Note 7. Property, Plant, and Equipment

12 Months Ended

Dec. 31, 2021

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, 2021		December 31, 2020
	(in millions)
Manufacturing/Corporate:
Land	$	17.4	$	19.6
Buildings and improvements	377.4		393.3
Machinery and other	415.1		418.8
Construction in progress	18.1		41.9
	828.0		873.6
Less: accumulated depreciation	(478.7)		(506.7)
	349.3		366.9
Leasing:
Wholly-owned subsidiaries:
Machinery and other	20.7		19.5
Equipment on lease	7,061.3		7,010.6
	7,082.0		7,030.1
Less: accumulated depreciation	(1,375.9)		(1,234.2)
	5,706.1		5,795.9
Partially-owned subsidiaries:
Equipment on lease	2,242.9		2,248.2
Less: accumulated depreciation	(672.3)		(621.9)
	1,570.6		1,626.3
Deferred profit on railcars sold to the Leasing Group	(1,047.3)		(1,064.7)
Less: accumulated amortization	268.2		244.4
	(779.1)		(820.3)
	$	6,846.9	$	6,968.8

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 2021 and 2020.

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, 2021, we had non-operating plants with a net book value of $6.3 million.

See Note 1 for more information regarding assets classified as held for sale as of December 31, 2021 and 2020.