Property, Plant, Equipment and Mineral Rights and Reserves

12 Months Ended

Dec. 31, 2013

Property, Plant, Equipment and Mineral Rights and Reserves [Abstract]

Property, Plant, Equipment and Mineral Rights and Reserves

(7)	Property, Plant, Equipment and Mineral Rights and Reserves

Property, plant, equipment and mineral rights and reserves consisted of the following:

	December 31,
	2013		2012
Mineral rights and reserves	$	5.0	$	48.6
Land		10.7		13.0
Buildings and improvements		87.9		104.9
Machinery and equipment		437.4		414.5
Construction in progress		47.9		32.6
		588.9		613.6

During the year ended December 31, 2013, we recorded an impairment charge of $36.0 and $16.3 relating to our South African chromite operations’ mineral rights and other depreciable assets, respectively. See Note 5 for further details.

The range of useful lives to depreciate plant and equipment is as follows:


Buildings and improvements	3-50 years
Machinery and equipment	1-24 years

Depreciation and depletion were charged to income as follows:

	2013		2012		2011
Depreciation expense	$	44.1	$	39.3	$	35.0
Depletion expense		1.5		1.6		2.6
		45.6		40.9		37.6

- 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.

+ References+ Details