PLANT, PROPERTY AND EQUIPMENT, NET

3 Months Ended

Mar. 31, 2018

Property, Plant and Equipment [Abstract]

PLANT, PROPERTY AND EQUIPMENT, NET

PLANT, PROPERTY AND EQUIPMENT, NET

	March 31, 2018				December 31, 2017
Land and improvements		$	29.2			$	28.7
Machinery and equipment		1,062.3				1,039.9
Buildings and improvements		266.6				262.5
Furniture, fixtures and office equipment		75.1				74.5
Construction work in progress		66.1				58.4
Other		11.1				10.9
Plant, property and equipment, gross		1,510.4				1,474.9
Less: Accumulated depreciation		(983.8		)		(953.2		)
Plant, property and equipment, net		$	526.6			$	521.7

Depreciation expense of $20.7 and $18.3 was recognized in the three months ended March 31, 2018 and 2017, 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 within three months from the date of this filing. At closing, the Company will receive the cash proceeds and is expected to record a gain of approximately $38 to $40.