Quarterly report pursuant to Section 13 or 15(d)

Property, Plant, and Equipment

v3.21.2
Property, Plant, and Equipment
6 Months Ended
Jun. 30, 2021
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment PROPERTY, PLANT AND EQUIPMENT
The following table presents details related to our property, plant and equipment, net:

June 30,
2021
December 31,
2020
Land $ 10.6  $ 10.6 
Buildings 83.1  81.8 
Machinery and equipment 442.7  458.9 
Computer software 17.0  15.9 
Construction in progress 11.6  16.4 
Less: accumulated depreciation and amortization (327.5) (336.7)
Total property, plant and equipment, net $ 237.5  $ 246.9 

Three Months Ended
June 30,
      Six Months Ended June 30,
2021 2020 2021 2020
Depreciation expense $ 11.4  $ 8.6  $ 19.5  $ 17.4 

On March 10, 2021 the Company sold its South Gate Facility, previously classified as assets held-for-sale, for a purchase price of $76.7 million. The Company received proceeds of $65.3 million, net of fees, expenses and certain amounts held in an environmental-related escrow account. The Company realized a gain of $46.0 million during the three months ended March 31, 2021 on the sale. At December 31, 2020, the Company had classified as Assets held-for-sale, $17.8 million of primarily land and buildings related to the South Gate Facility that met all related criteria under U.S. GAAP.

During the three months ended June 30, 2021, the Company accelerated $3.3 million of depreciation expense for property, plant and equipment for which no future alternative use was identified as part of the Company's business transformation initiatives.