Note 7. Property, Plant, and Equipment

12 Months Ended

Dec. 31, 2020

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

Note 7. Property, Plant, and Equipment

The following table summarizes the components of property, plant, and equipment:

	December 31, 2020		December 31, 2019
	(in millions)
Manufacturing/Corporate:
Land	$	23.2	$	28.4
Buildings and improvements	428.6		402.2
Machinery and other	485.1		546.7
Construction in progress	42.5		63.1
	979.4		1,040.4
Less accumulated depreciation	(577.9)		(631.6)
	401.5		408.8
Leasing:
Wholly-owned subsidiaries:
Machinery and other	19.5		13.7
Equipment on lease	7,010.6		6,944.2
	7,030.1		6,957.9
Less accumulated depreciation	(1,234.2)		(1,139.0)
	5,795.9		5,818.9
Partially-owned subsidiaries:
Equipment on lease	2,248.2		2,410.0
Less accumulated depreciation	(621.9)		(623.3)
	1,626.3		1,786.7
Deferred profit on railcars sold to the Leasing Group	(1,064.7)		(1,135.8)
Less accumulated amortization	244.4		232.0
	(820.3)		(903.8)
	$	7,003.4	$	7,110.6

In early 2020, we finalized an assessment of the estimated useful lives and salvage value assumptions for the railcars in our lease fleet. This resulted in a revision to the useful lives and salvage values of certain railcar types in our lease fleet. See Note 1 for further information.

We lease certain equipment and facilities under operating leases. See Note 1 for future operating lease obligations on non-Leasing Group leases. See Note 1 and Note 6 for information related to the lease agreements, future operating lease obligations, and future minimum rental revenues associated with the Leasing Group.

We capitalized an insignificant amount of interest expense as part of the construction of facilities and equipment during 2020. We did not capitalize any interest expense during 2019.

We estimate the fair market value of properties no longer in use based on the location and condition of the properties, the fair market value of similar properties in the area, and our experience selling similar properties in the past. As of December 31, 2020, we had non-operating plants with a net book value of $12.4 million. See Note 11 for further information regarding impairment of long-lived assets recorded in the year ended December 31, 2020, as well as asset impairment charges related to non-operating plants that were recorded during the year ended D