Plant, Property and Equipment, Net

12 Months Ended

Dec. 31, 2017

Property, Plant and Equipment [Abstract]

Plant, Property and Equipment, Net

PLANT, PROPERTY AND EQUIPMENT, NET

	2017			2016
Machinery and equipment	$	1,039.9		$	898.6
Buildings and improvements	262.5			244.6
Furniture, fixtures and office equipment	74.5			68.0
Construction work in progress	58.4			68.5
Land and improvements	28.7			28.2
Other	10.9			5.3
Plant, property and equipment, gross	1,474.9			1,313.2
Less: accumulated depreciation	(953.2		)	(848.7		)
Plant, property and equipment, net	$	521.7		$	464.5

Depreciation expense of $78.3, $74.1 and $70.7 was recognized in 2017, 2016 and 2015, respectively.

During 2017 the Company entered into an agreement to sell excess property for a cash purchase price of approximately $41. The purchaser’s due diligence period has ended, however there are remaining conditions to closing which are anticipated to be finalized in the first half of 2018. At closing, the Company will receive the cash proceeds and is expected to record a gain of approximately $38 to $40.