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Property, Plant and Equipment
 12 Months Ended
Dec. 31, 2017
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment

Note 6.     Property, Plant and Equipment

 

Property, plant and equipment consists of the following:

 

(in millions)

    2017     2016  

Land

    $ 17.7     $ 7.2  

Buildings

      44.0       37.8  

Equipment

      249.4       192.6  

Work in progress

      16.1       14.2  
  

 

 

    

 

 

  
     327.2       251.8  

Less accumulated depreciation

      (131.2 )      (94.4 ) 
  

 

 

    

 

 

  
   $ 196.0     $ 157.4  
  

 

 

    

 

 

  

 

Following the Huntsman acquisition, we have recognized $2.8 million of asset retirement obligations as an increase in the value of the tangible assets acquired, which will be depreciated over the remaining useful economic life of those assets.

 

Of the total net book value of equipment at December 31, 2017 $6.2 million (2016 – $4.4 million) are in respect of assets held under finance leases.

 

Depreciation charges were $21.4 million, $13.5 million and $13.0 million in 2017, 2016 and 2015, respectively.

 

The estimated additional cost to complete work in progress is $2.3 million (2016 – $9.5 million).