Property, Plant and Equipment

9 Months Ended

Sep. 30, 2013

8. Property, Plant and Equipment

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

Land	$	79.2		$	82.6
Buildings	963.5			934.3
Machinery and equipment	3,541.1			3,407.6
Construction-in-progress	283.2			240.6
	4,867.0			4,665.1
Accumulated depreciation	(2,506.9		)	(2,376.5		)
	$	2,360.1		$	2,288.6

Property, plant and equipment are stated at historical or acquired cost. Depreciation expense amounted to $66.8 million and $194.9 million for the three and nine months ended September 30, 2013, respectively, and $64.4 million and $190.2 million for the comparable periods in 2012, respectively.

- 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.

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