PROPERTY, PLANT AND EQUIPMENT

12 Months Ended

Dec. 31, 2020

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT, AND EQUIPMENT

Depreciation expense, which is recorded in Cost of sales and General and administrative expenses in the Consolidated Statements of Operations, as appropriate, on property, plant and equipment was $24.0 million, $20.2 million, and $19.7 million in 2020, 2019, and 2018, respectively, and includes depreciation of assets recorded in connection with the Company’s finance lease agreements. As of December 31, 2020 and 2019, the assets related to the Company’s finance lease agreements are recorded within Property, plant and equipment, net in the Consolidated Balance Sheets in the amount of $2.8 million and $2.9 million, respectively, net of accumulated depreciation of $1.8 million and $1.7 million, respectively.

See Note 20 for information related to property, plant, and equipment sales during 2020.

Property, plant and equipment, net consist of the following (in thousands):


	December 31,
	2020		2019
Land	$	38,886	$	36,794
Buildings and building improvements	149,364		146,210
Machinery and equipment	309,063		287,332
Construction in progress	9,349		36,179
	506,662		506,515
Less: accumulated depreciation	(296,986)		(285,169)
	$	209,676	$	221,346