Property and Equipment, net

9 Months Ended

Sep. 30, 2018

Property, Plant and Equipment [Abstract]

Property and equipment, net consisted of the following:



	September 30, 2018			December 31, 2017
Land	$	20.4		$	35.7
Buildings and leasehold improvements	125.6			183.6
Gaming and lottery machinery and equipment	1,029.7			962.2
Furniture and fixtures	30.3			33.2
Construction in progress	22.2			27.7
Other property and equipment	245.9			236.9
Less: accumulated depreciation	(931.7		)	(911.1		)
Total property and equipment, net	$	542.4		$	568.2

Depreciation expense is excluded from Cost of services, Cost of product sales, Cost of instant products and Other operating expenses and is separately presented within D&A.



	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2018		2017		2018		2017
Depreciation expense	$	51.2	$	69.0	$	159.0	$	205.9

Assets Held For Sale

As of September 30, 2018, we had $55.1 million of assets held for sale, and none as of December 31, 2017. Assets held for sale primarily relate to our Gaming business segment and consist of certain properties in Las Vegas and Chicago that are actively being marketed for sale as a result of recent facility rationalization and integration activities. These assets are included within Prepaid expenses, deposits and other current assets and are reported at the lower of the carrying value or fair market value, less expected costs to sell. We measured the fair value of assets held for sale under a market approach and have categorized such measurements as Level 3 in the fair value hierarchy. Based on our fair value measurement during the first quarter of 2018, the book value related to our assets held for sale was reduced by approximately $19.0 million, which was recorded within D&A, with no material changes to such fair value through the third quarter of 2018. Subsequent to September 30, 2018, we sold certain of our properties held for sale with net cash proceeds of approximately $40.0 million.