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Property, Plant and Equipment | 12 Months Ended
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Dec. 31, 2017
Property, Plant and Equipment [Abstract] |
Property, Plant and Equipment | Property, Plant and Equipment Property, plant and equipment are stated at cost, less accumulated depreciation. Interest is capitalized as a component of the cost of construction for large projects. Expenditures for betterments are capitalized whereas normal repairs and maintenance are expensed as incurred. Property, other than land, is depreciated on a straight-line basis for financial reporting purposes. When property is sold or retired, the cost of the property and the related accumulated depreciation are removed from the balance sheet, and any gain or loss on the transaction is normally included in cost of products sold. Property, plant and equipment (and related depreciable lives) consisted of the following ($ in millions):
| December 31,
| 2017 |  | 2016
Land and improvements | $ | 15.3 |  |  | $ | 11.2 |
Buildings and improvements (20 to 40 years or remaining life of relevant lease) | 145.1 |  |  | 118.5 |
Machinery and equipment (5 to 20 years) | 621.9 |  |  | 526.1 |
Construction in progress | 28.1 |  |  | 28.3 |
Gross property, plant and equipment | 810.4 |  |  | 684.1 |
Less: Accumulated depreciation | 448.5 |  |  | 376.7 |
Property, plant and equipment, net | $ | 361.9 |  |  | $ | 307.4 |
Depreciation expense was $35.7 million, $29.4 million and $30.7 million for the years ended December 31, 2017, 2016, and 2015, respectively. During 2015, the physical assets of our RTL facility in the Philippines were reclassified from Property, plant and equipment, net to Assets held for sale on our Consolidated Balance Sheets. At December 31, 2017, the net realizable value of these assets was $12.8 million.

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- 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 + Details
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