Property, Plant and Equipment

12 Months Ended

Dec. 31, 2014

Property, Plant and Equipment [Abstract]

5 Property, Plant and Equipment

Property, plant and equipment consist of the following (in thousands):

		December 31,
		2014		2013
Land and land improvements		$	39,688	$	37,156
Buildings and leasehold improvements			256,603		205,638
Production and other equipment			367,716		336,135
Construction in progress			20,606		80,420
	Total property, plant and equipment		684,613		659,349
Less: accumulated depreciation and amortization			(363,030)		(334,417)
	Property, plant and equipment, net	$	321,583	$	324,932

During 2014, the Company recorded a $5 million impairment charge related to a write-down in the fair value of a building in the U.K. The building is currently classified as held-for-sale and recorded in other current assets in the consolidated balance sheet as of December 31, 2014 at a fair value of $4 million, which was determined based on a real estate market analysis. During 2014, 2013 and 2012, the Company retired and disposed of approximately $10 million, $19 million and $6 million of property, plant and equipment, respectively, most of which was fully depreciated and no longer in use. Gains on disposal were $1 million during the year ended December 31, 2014 and were immaterial for both 2013 and 2012.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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