Property, Plant and Equipment Property, Plant and Equipment

6 Months Ended

Jun. 30, 2017

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 $1,511.4 million and $1,439.3 million as of June 30, 2017 and December 31, 2016, respectively.

Solothurn, Switzerland Facility

During the first quarter of 2016 we purchased land in Solothurn, Switzerland for 64.4 million Swiss Francs (approximately $62.5 million), where we are building a biologics manufacturing facility over the next several years. As of June 30, 2017 and December 31, 2016, we had $798.1 million and $481.5 million, respectively, capitalized as construction in progress related to the construction of this facility. As of June 30, 2017, we had contractual commitments of approximately $258.2 million for the construction of this facility.