Property, Plant and Equipment Property, Plant and Equipment

3 Months Ended

Mar. 31, 2016

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

Property, Plant and Equipment

Property, plant and equipment are recorded at historical cost, net of accumulated depreciation. Accumulated depreciation on property, plant and equipment was $1,394.4 million and $1,330.1 million as of March 31, 2016 and December 31, 2015, respectively.

Solothurn, Switzerland Facility

On December 1, 2015, we purchased land in Solothurn, Switzerland for 64.4 million Swiss Francs (approximately $62.5 million). We are building a biologics manufacturing facility on this land in the Commune of Luterbach over the next several years. As of March 31, 2016 and December 31, 2015, we had approximately $158.0 million and $99.0 million, respectively, capitalized as construction in progress related to the construction of this facility.