PROPERTY, PLANT AND EQUIPMENT, NET

9 Months Ended

Sep. 30, 2014

5. PROPERTY, PLANT AND EQUIPMENT, NET

As of September 30, 2014 and December 31, 2013, property, plant and equipment consisted of the following:

*(In millions)*	September 30, 2014		December 31, 2013

Chemical manufacturing plants	$	1,407.5	$	1,361.7
Machinery and equipment		1,145.0		1,070.4
Buildings		205.1		214.4
Land and land improvements		175.7		195.3
Construction-in-progress		109.9		116.9


Property, plant and equipment, at cost		3,043.2		2,958.7
Less: accumulated depreciation		1,382.5		1,300.0


Property, plant and equipment, net	$	1,660.7	$	1,658.7

- 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.

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