Property, Plant and Equipment

12 Months Ended

Dec. 31, 2018

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. Components of property, plant and equipment, net are summarized as follows:

	As of December 31,
(In millions)	2018			2017
Land	$	144.5		$	141.2
Buildings	1,282.8			1,213.6
Leasehold improvements	94.4			80.6
Machinery and equipment	1,258.1			1,207.7
Computer software and hardware	798.7			767.1
Furniture and fixtures	61.6			55.3
Construction in progress	1,758.5			1,276.0
Total cost	5,398.6			4,741.5
Less: accumulated depreciation	(1,797.4		)	(1,559.1		)
Total property, plant and equipment, net	$	3,601.2		$	3,182.4

Depreciation expense totaled $269.4 million, $266.3 million and $309.3 million for 2018, 2017 and 2016, respectively.

For 2018, 2017 and 2016 we capitalized interest costs related to construction in progress totaling approximately $54.0 million, $30.7 million and $12.9 million, respectively. The increase in capitalized interest costs is primarily due to the construction of our large-scale biologics manufacturing facility in Solothurn, Switzerland, as discussed below.

Solothurn, Switzerland Manufacturing Facility

We are building a large-scale biologics manufacturing facility in Solothurn, Switzerland. We expect this facility to be operational by the end of 2020. Upon completion, the facility will include 393,000 square feet related to a large-scale biologics manufacturing facility, 290,000 square feet of warehouse, utilities and support space and 51,000 square feet of administrative space. As of December 31, 2018 and 2017, we had approximately $1.6 billion and $1.2 billion, respectively, capitalized as construction in progress related to this facility.