Property, plant and equipment | Useful Life | |
Buildings | 40 to 50 years | |
Leasehold improvements | Lesser of lease term or the life of the asset | |
Machinery, equipment and furniture | 3 to 10 years | |
Computer software | 5 to 10 years | |
December 31, | |||||||
(in millions of dollars) | 2017 | 2016 | |||||
Land and improvements | $ | 28.0 | $ | 18.9 | |||
Buildings and improvements to leaseholds | 152.6 | 119.1 | |||||
Machinery and equipment | 453.5 | 382.0 | |||||
Construction in progress | 11.1 | 8.0 | |||||
645.2 | 528.0 | ||||||
Less: accumulated depreciation | (366.7 | ) | (329.6 | ) | |||
Property, plant and equipment, net(1) | $ | 278.5 | $ | 198.4 | |||
(1) | Net property, plant and equipment as of December 31, 2017 and 2016 contained $42.1 million and $34.7 million of computer software assets, respectively, which are classified within machinery and equipment and construction in progress. Amortization expense for software was $7.1 million, $7.0 million and $6.1 million for the years ended December 31, 2017, 2016 and 2015, respectively. |