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Property and Equipment, net
12 Months Ended
Dec. 31, 2016
Property Plant And Equipment [Abstract]  
Property and Equipment, net

Note 6 Property and Equipment, net

The following table details our property and equipment.

 

 

 

December 31,

 

 

December 31,

 

(In millions)

 

2016

 

 

2015(1)

 

Land and improvements

 

$

88.3

 

 

$

86.7

 

Buildings

 

 

665.0

 

 

 

606.2

 

Machinery and equipment(2)

 

 

2,183.9

 

 

 

2,141.3

 

Other property and equipment

 

 

151.2

 

 

 

139.9

 

Construction-in-progress(2)

 

 

227.5

 

 

 

190.7

 

Property and equipment, gross

 

 

3,315.9

 

 

 

3,164.8

 

Accumulated depreciation and amortization(3)

 

 

(2,255.6

)

 

 

(2,219.1

)

Property and equipment, net

 

$

1,060.3

 

 

$

945.7

 

 

 

(1)

Amounts related to asset retirement obligations were recorded as of December 31, 2015. This resulted in an increase to property and equipment, net and other non-current liabilities of $15.0 million.

(2)

As of December 31, 2015, amounts related to fixed assets in North America remained in construction-in-progress after the assets had been capitalized. As a result, $4.2 million should have been reclassified from construction-in-progress to machinery and equipment.

(3)

As of December 31, 2016, this amount includes $0.5 million related to the accelerated depreciation and amortization of fixed assets related to ceasing operations in Venezuela. See Note 2, “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” under the Impact of Inflation and Currency Fluctuation  section of the Notes to Consolidated Financial Statements for further details.

The following table details our interest cost capitalized and depreciation and amortization expense for property and equipment for the years ended December 31.

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31,

 

(In millions)

 

2016

 

 

2015

 

 

2014

 

Interest cost capitalized

 

$

11.0

 

 

$

5.4

 

 

$

6.2

 

Depreciation and amortization expense for property and equipment

 

$

120.5

 

 

$

124.6

 

 

$

147.8