Property, Plant and Equipment, Net

6 Months Ended

Jun. 30, 2020

Property, Plant and Equipment [Abstract]

Property, plant and equipment, net, is comprised of the following at the dates indicated (in millions):


	June 30, 2020		December 31, 2019
Land	$	82	$	86
Buildings and improvements	644		641
Machinery and equipment	2,176		2,151
	2,902		2,878
Less: Accumulated depreciation	(1,784)		(1,723)
	$	1,118	$	1,155

Depreciation expense for continuing operations was $46 million and $41 million for the three months ended June 30, 2020 and 2019, respectively, and $94 million and $81 million for the six months ended June 30, 2020 and 2019, respectively. Depreciation expense for discontinued operations was nil for the three and six months ended June 30, 2019, as the Company ceased depreciating property, plant and equipment relating to businesses which satisfied the criteria to be classified as held for sale.

During the first quarter of 2020, the Company concluded that a triggering event had occurred for all of its reporting units as a result of the COVID-19 pandemic. Pursuant to the authoritative accounting literature, the Company compared the sum of the undiscounted future cash flows attributable to the asset or group of assets (the lowest level for which identifiable cash flows are available) to their respective carrying amount. As a result of the impairment testing performed in connection with the triggering event, the Company recorded a non-cash fixed asset impairment charge of approximately $1 million during the six months ended June 30, 2020, in the Home Solutions segment associated with its Yankee Candle retail store business. The impairment charge was calculated by subtracting the estimated fair value of the asset group from its carrying value. See Footnote 1 for further information.