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Property, Plant and Equipment
 12 Months Ended
Dec. 31, 2021
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Property, Plant and Equipment
The components of property, plant and equipment at December 31, 2021 and 2020, were as follows:
20212020
Land$73.6 $97.6 
Buildings658.4 780.3 
Machinery and equipment2,883.7 3,094.1 
Other(1)
181.9 183.2 
Construction in progress25.1 33.0 
Property, plant and equipment—gross3,822.7 4,188.2 
Less: accumulated depreciation(3,095.7)(3,304.0)
Property, plant and equipment—net$727.0 $884.2 
______________________________
(1)Other consists of computer equipment, vehicles, furniture and fixtures, leasehold improvements and communication related equipment.

The Company recorded impairment charges of $2.8 million and $64.1 million during the years ended December 31, 2021 and 2020, respectively, to reduce the carrying amounts of certain property, plant and equipment no longer utilized in production, or due to other capacity reduction and strategic divestiture activities, to fair value (see Note 5, “Restructuring, Impairment and Transaction-Related Charges,” for further discussion on impairment charges).

The Company recognized depreciation expense for continuing operations of $125.8 million and $142.5 million for the years ended December 31, 2021 and 2020, respectively.

Assets Held for Sale from Continuing Operations

The Company considered certain closed facilities for held for sale classification in the consolidated balance sheets. Assets held for sale are carried at the lesser of original cost or fair value, less the estimated costs to sell. There were no assets held for sale as of December 31, 2021, and assets held for sale were $4.9 million as of December 31, 2020. The fair values were determined by the Company to be Level 3 under the fair value hierarchy (see Note 15, “Financial Instruments and Fair Value Measurements,” for the definition of Level 3 inputs) and were estimated based on quoted market prices where available and independent appraisals, as appropriate. Assets held for sale were included in prepaid expenses and other current assets in the consolidated balance sheets.

Gains from Sale and Leaseback

On June 29, 2021, the Company executed a sale and leaseback of its Chalfont, Pennsylvania facility for net proceeds of $20.0 million, which resulted in a $13.7 million gain. The leaseback is for a term of seven years and was determined to be an operating lease. The leaseback resulted in a $9.4 million asset included in the operating lease right of use assets - net, current operating lease obligation of $1.1 million and operating lease obligation of $8.3 million in the consolidated balance sheet as of December 31, 2021.

On September 28, 2021, the Company executed a sale and leaseback of its West Allis, Wisconsin facility for net proceeds of $31.9 million, which resulted in a $10.8 million gain. The leaseback is for a term of ten years and was determined to be an operating lease. The leaseback resulted in a $22.7 million asset included in the operating lease right of use assets - net, current operating lease obligation of $1.6 million and operating lease obligation of $21.1 million in the consolidated balance sheet as of December 31, 2021.