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Property, Plant and Equipment, Net
 12 Months Ended
Dec. 31, 2019
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment, Net Property, Plant and Equipment, Net

The following table details our property, plant and equipment, net:

 
 
December 31,
 
 
Successor
 
Predecessor
(in millions)
 
2019
 
2018
Land
 
$
4.1

 
$
3.9

Buildings and improvements
 
8.1

 
7.0

Machinery and equipment
 
13.0

 
15.0

Other property and equipment
 
6.7

 
8.7

Converting machines
 
105.9

 
112.4

Property, plant and equipment
 
137.8

 
147.0

Accumulated depreciation and amortization
 
(15.3
)
 
(74.0
)
Property, plant and equipment, net
 
$
122.5

 
$
73.0


The following table details our depreciation expense for property, plant and equipment:

 
 
Successor
 
Predecessor
 
 
June 3, through December 31,
 
January 1, through June 2,
 
December 31,
 (in millions)
 
2019
 
2019
 
2018
 
2017
Cost of sales
 
$
14.6

 
$
8.9

 
$
21.2

 
$
19.2

Selling, general and administrative
 
0.8

 
0.7

 
1.6

 
1.1

Total depreciation
 
$
15.4

 
$
9.6

 
$
22.8

 
$
20.3


The Company did not capitalize any interest from January 1, 2019 through June 2, 2019; June 3, 2019 through December 31, 2019, and for the years ended December 31, 2018 and 2017.

There were no material impairments of property, plant and equipment from January 1, 2019 through June 2, 2019; June 3, 2019 through December 31, 2019, and for the years ended December 31, 2018 and 2017.

The Company has recorded asset retirement obligations related to its plants and equipment on a consolidated basis. These retirement obligations were recorded at a present value of approximately $0.7 million as part of the fair value adjustments recorded for the Ranpak Business Combination. During the successor period, Ranpak, accreted $21.0 thousand as interest expense.