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Supplemental Balance Sheet Information | 6 Months Ended
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Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Supplemental Balance Sheet Information | Supplemental Balance Sheet Information Accounts Receivable Accounts receivable consist of the following (in millions):
| June 30, 2018 |  | December 31, 2017
Accounts receivable | $ | 190.4 |  |  | $ | 204.9 |
Allowances and doubtful accounts | (1.2 | ) |  | (1.9 | )
Accounts receivable, net | $ | 189.2 |  |  | $ | 203.0 |
Allowances and doubtful accounts includes allowances of $0.9 million and $0.9 million for doubtful accounts, $0.2 million and $0.8 million for sales discounts, and $0.1 million and $0.2 million for sales returns as of June 30, 2018 and December 31, 2017, respectively. Inventories Inventories at the lower of cost (determined on the LIFO/FIFO or weighted-average cost methods) or market consist of the following (in millions):
| June 30, 2018 |  | December 31, 2017
| LIFO |  | Non- LIFO |  | Total |  | LIFO |  | Non- LIFO |  | Total
Raw materials | $ | 37.3 |  |  | $ | 1.2 |  |  | $ | 38.5 |  |  | $ | 26.6 |  |  | $ | 1.5 |  |  | $ | 28.1 |
Work in process | 25.6 |  |  | 0.4 |  |  | 26.0 |  |  | 20.4 |  |  | 0.3 |  |  | 20.7 |
Finished goods | 40.0 |  |  | 10.3 |  |  | 50.3 |  |  | 40.0 |  |  | 9.6 |  |  | 49.6 |
Supplies and other | — |  |  | 5.9 |  |  | 5.9 |  |  | — |  |  | 5.7 |  |  | 5.7 |
| 102.9 |  |  | 17.8 |  |  | 120.7 |  |  | 87.0 |  |  | 17.1 |  |  | 104.1 |
Excess of FIFO or weighted-average cost over LIFO cost | (12.9 | ) |  | — |  |  | (12.9 | ) |  | (13.0 | ) |  | — |  |  | (13.0 | )
Total | $ | 90.0 |  |  | $ | 17.8 |  |  | $ | 107.8 |  |  | $ | 74.0 |  |  | $ | 17.1 |  |  | $ | 91.1 |
Property, Plant and Equipment Property, plant and equipment consists of the following (in millions):
| June 30, 2018 |  | December 31, 2017
Land | $ | 0.9 |  |  | $ | 1.0 |
Buildings | 41.9 |  |  | 41.0 |
Machinery and equipment | 130.8 |  |  | 124.4 |
Construction in progress | 30.1 |  |  | 21.5 |
| 203.7 |  |  | 187.9 |
Less accumulated depreciation | (80.2 | ) |  | (78.0 | )
Total | $ | 123.5 |  |  | $ | 109.9 |
Construction in progress includes $10.7 million of costs capitalized in connection with migration to a new IT platform and enhancements to our IT environment. See Note 3 for further discussion of our IT-related restructuring and enhancement activities. Depreciation expense was $3.2 million and $6.4 million for the three and six months ended June 30, 2018 compared to $5.1 million and $10.0 million for the three and six months ended June 30, 2017, respectively. Goodwill and Intangible Assets The changes in the carrying amount of goodwill by business segment are as follows (in millions):
| Goodwill
Balance at December 31, 2017 | $ | 764.7 |
Currency translation adjustment | (0.9 | )
Balance at June 30, 2018 | $ | 763.8 |
Intangible assets subject to amortization consist of the following (in millions):
| June 30, 2018 |  | December 31, 2017
| Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Trademarks | $ | 76.4 |  |  | $ | (50.0 | ) |  | $ | 26.4 |  |  | $ | 125.9 |  |  | $ | (97.6 | ) |  | $ | 28.3 |
Patents and acquired technologies | 237.1 |  |  | (136.9 | ) |  | 100.2 |  |  | 253.0 |  |  | (146.1 | ) |  | 106.9 |
Other | 38.0 |  |  | (30.8 | ) |  | 7.2 |  |  | 43.1 |  |  | (35.1 | ) |  | 8.0 |
Total | $ | 351.5 |  |  | $ | (217.7 | ) |  | $ | 133.8 |  |  | $ | 422.0 |  |  | $ | (278.8 | ) |  | $ | 143.2 |
As of each period ended June 30, 2018 and December 31, 2017, we had $5.7 million of acquired in-process research and development projects. Amortization expense for intangible assets was $4.7 million and $9.2 million for the three and six months ended June 30, 2018 compared to $5.1 million and $10.4 million for the three and six months ended June 30, 2017, respectively. We estimate amortization expense for the remainder of 2018 and the following four years and beyond will be as follows (in millions):
For the years ending December 31, |  |
2018 |  | $ | 8.8 |
2019 |  | 15.3 |
2020 |  | 13.1 |
2021 |  | 10.9 |
2022 |  | 10.4 |
Thereafter |  | 75.3 |
Total |  | $ | 133.8 |
Accrued Expenses Accrued expenses consist of the following (in millions):
| June 30, 2018 |  | December 31, 2017
Accrued rebates | $ | 33.4 |  |  | $ | 64.4 |
Accrued salaries and wages | 23.6 |  |  | 44.5 |
Accrued taxes - income and other | 87.9 |  |  | 6.8 |
Other | 31.0 |  |  | 29.2 |
Total | $ | 175.9 |  |  | $ | 144.9 |
Accrued rebates represents amounts accrued for estimated incentives earned by customers. Other Long-Term Liabilities Other long-term liabilities consist of the following (in millions):
| June 30, 2018 |  | December 31, 2017
Taxes payable | $ | 9.4 |  |  | $ | 10.0 |
Accrued compensation benefits | 4.9 |  |  | 4.6 |
Other | 15.3 |  |  | 17.2 |
Total | $ | 29.6 |  |  | $ | 31.8 |

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- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -URI http://asc.fasb.org/topic&trid=2122208 + Details
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