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Property, Plant and Equipment

6 Months Ended

Jun. 30, 2019

Property Plant And Equipment [Abstract]

Property, Plant and Equipment

5.  Property, Plant and Equipment

The components of property, plant and equipment at June 30, 2019 and December 31, 2018 are summarized as follows:

		June 30, 2019				December 31, 2018
Land		$	24.1			$	24.1
Building and improvements			197.4				195.3
Machinery, equipment and tooling			269.0				269.4
Furniture and fixtures			16.9				16.4
Computer hardware and software			117.7				117.1
Rental cranes			81.7				84.0
Construction in progress			7.8				9.6
Total cost			714.6				715.9
Less accumulated depreciation			(431.1	)			(427.0	)
Property, plant and equipment — net		$	283.5			$	288.9

Assets Held for Sale

The Company has classified the Manitowoc, Wisconsin manufacturing buildings and land as held for sale on the Condensed Consolidated Balance Sheets as of June 30, 2019 and December 31, 2018. The net book value of assets held for sale were $8.8 million and $12.9 million as of June 30, 2019 and December 31, 2018, respectively, and are included in other current assets on the Condensed Consolidated Balance Sheets. During the first quarter of 2019, a portion of the manufacturing site was sold which resulted in a decrease in assets held for sale.  

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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-URI http://asc.fasb.org/topic&trid=2155823

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