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Property, Plant and Equipment | 12 Months Ended
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Dec. 31, 2018
Property, Plant and Equipment [Abstract] |
Property, Plant and Equipment | Property, Plant and Equipment The components of property, plant and equipment are as follows:
| December 31,
(in thousands) | 2018 |  | 2017
Land | $ | 29,739 |  |  | $ | 22,388 |
Land improvements and leasehold improvements | 68,826 |  |  | 69,127 |
Buildings and storage facilities | 284,998 |  |  | 284,820 |
Machinery and equipment | 393,640 |  |  | 373,127 |
Construction in progress | 102,394 |  |  | 7,502 |
| 879,597 |  |  | 756,964 |
Less: accumulated depreciation | 402,886 |  |  | 372,287 |
| $ | 476,711 |  |  | $ | 384,677 |
Capitalized interest totaled $1.7 million for the year ended December 31, 2018. Depreciation expense on property, plant and equipment amounted to $46.5 million, $48.3 million and $48.9 million for the years ended 2018, 2017 and 2016, respectively. In June 2018, the Company recorded charges totaling $1.6 million for impairment of property, plant and equipment in the Grain segment related to assets that were reclassified as assets held for sale at June 30, 2018 and were sold in the third quarter. In December 2017, the Company recorded charges totaling $10.9 million for impairment of property, plant and equipment in the Grain segment, of which $5.6 million relates to assets that were deemed held and used and $5.3 million related to assets that had been reclassified as assets held for sale at December 31, 2017. These assets were then sold during 2018. In December 2016, the Company recorded charges totaling $6.0 million for impairment of property, plant and equipment in the Retail segment. This does not include $0.5 million of impairment charges related to software. The Company also recorded charges totaling $2.3 million for impairment of property, plant and equipment in the Plant Nutrient segment due to the closing of a cob facility. Rail Group Assets The components of the Rail Group assets leased to others are as follows:
| December 31,
(in thousands) | 2018 |  | 2017
Rail Group assets leased to others | $ | 640,349 |  |  | $ | 531,391 |
Less: accumulated depreciation | 118,564 |  |  | 107,948 |
| $ | 521,785 |  |  | $ | 423,443 |
Depreciation expense on Rail Group assets leased to others amounted to $24.7 million, $20.0 million and $18.6 million for the years ended 2018, 2017 and 2016, respectively. In June 2018, the Company recorded charges totaling $4.7 million for impairment of Rail Group assets leased to others that had been reclassified as assets held for sale at June 30, 2018. These assets were sold during the second half of 2018.Sale of Assets The Company sold its grain elevators in Humboldt, Kenton and Dyer, Tennessee for $19.5 million plus working capital during the second quarter of 2018 and its Como location for $1.3 million plus working capital during the third quarter of 2018. During the third quarter of 2018, the Company also sold one of its convertible preferred security investments for $6.4 million and recorded a pre-tax gain of $3.9 million in Other income, net. The Company also sold fifty barge vessels for $26.9 million and recorded a pre-tax gain of $2.4 million in Other income, net. During the fourth quarter of 2018, the Company sold its final retail property for $4.9 million and recorded a nominal gain. During 2017, the Company sold three of its retail properties for $14.7 million and recorded a $8.6 million gain in Other income, net. Additionally, the Company recorded a $1.2 million gain in Other income, net for the sales of fixtures. The Company also sold four farm center locations in Florida for $17.4 million and recorded a $4.7 million gain, net of transaction costs in Other income, net. In 2016 the Company sold eight grain and agronomy locations in Iowa for $54.3 million and recorded a nominal gain.

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- Definition The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 + Details
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