Property, Plant and Equipment

3 Months Ended

Mar. 31, 2013

Note 12—Property, Plant and Equipment

The components of property, plant and equipment at March 31, 2013 and December 31, 2012 were as follows:

	March 31,			December 31,
(in millions)	2013			2012
Land	$	45.2		$	45.8
Buildings and leasehold improvements	313.3			311.9
Machinery and equipment	851.8			845.2
Projects in progress	81.5			69.9
	1,291.8			1,272.8
Accumulated depreciation	(650.3		)	(635.7		)
Property, plant and equipment, net	$	641.5		$	637.1

Property, plant and equipment at December 31, 2012 includes assets acquired from Thermax/Raydex and Hertalan recorded at estimated fair value based on preliminary valuation studies. See Note 4 for further information regarding these acquisitions.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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