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PROPERTY:

12 Months Ended

Dec. 31, 2013

NOTE 5-PROPERTY:

	As of December 31,
(in millions)	2013			2012
Buildings and equipment	$	8,107.2		$	7,497.3
Construction in progress	2,567.0			1,617.6
Mine development	250.7			250.7
Land, other than mineral	61.8			46.7
Total property	10,986.7			9,412.3
Accumulated depreciation, amortization and depletion	(4,510.5		)	(4,255.6		)
Total property, net	$	6,476.2		$	5,156.7

Construction in progress increased significantly in 2013 as a result of spending on the Company’s expansion projects. For more detailed information, please see Item 7, Management Discussion and Analysis of Financial Condition and Results of Operations — “Capital Investment Program.”

Depreciation and depletion expense for the years ended December 31, 2013, 2012 and 2011, amounted to $393.6 million, $323.6 million and $286.0 million, respectively.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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