Property, Plant and Equipment

9 Months Ended

Sep. 30, 2013

Note 12—Property, Plant and Equipment

The components of property, plant and equipment at September 30, 2013 and December 31, 2012 were as follows:

	September 30,			December 31,
(in millions)	2013			2012

Land	$	49.0		$	45.8
Buildings and leasehold improvements	338.1			311.9
Machinery and equipment	880.0			845.2
Projects in progress	59.7			69.9

	1,326.8			1,272.8
Accumulated depreciation	(681.5		)	(635.7		)
Property, plant and equipment, net	$	645.3		$	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 used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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