Property, Plant, and Equipment

12 Months Ended

Dec. 31, 2021

Property, Plant, and Equipment

Property, Plant, and Equipment

Note 6 — Property, Plant, and Equipment

Property, plant, and equipment, net, consist of the following:

	December 31,		December 31,
	2021		2020		Average Useful Life
	(in thousands)
Land	$	5,061	$	5,061	N/A
Building and improvements		63,946		62,865	10 – 40 years
Machinery and equipment (1)		145,656		140,493	3 – 10 years
Leasehold improvements		45,979		6,671	3 – 17 years
Gross property, plant, and equipment		260,642		215,090
Less: accumulated depreciation and amortization		160,899		149,819
Net property, plant, and equipment	$	99,743	$	65,271

(1) Machinery and equipment also includes software, furniture, and fixtures

Depreciation expense was $13.8 million, $15.4 million, and $17.3 million for the years ended December 31, 2021, 2020, and 2019, respectively. During the year ended December 31, 2019, the Company classified vacant land in St. Paul,

Minnesota as held for sale, and subsequently sold the land for approximately $0.6 million, which approximated its carrying value.