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PROPERTY:

12 Months Ended

Dec. 31, 2014

NOTE 5-PROPERTY:

	As of December 31,
(in millions)	2014			2013
Buildings and equipment	$	9,173.7		$	8,107.2
Construction in progress	2,755.9			2,567.0
Mine development	255.0			250.7
Land, other than mineral	100.1			61.8
Total property	12,284.7			10,986.7
Accumulated depreciation, amortization and depletion	(4,848.3		)	(4,510.5		)
Total property, net	$	7,436.4		$	6,476.2

Construction in progress increased in 2014 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, 2014, 2013 and 2012, amounted to $443.0 million, $393.6 million and $323.6 million, respectively.

- 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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