The components of property, plant and equipment at March 31, 2020 and December 31, 2019 were as follows:

	March 31, 2020			December 31, 2019
Land	$	47.2		$	47.8
Buildings		375.3			379.9
Machinery and equipment		1,683.1			1,704.7
		2,105.6			2,132.4
Less: Accumulated depreciation		(1,629.8	)		(1,632.4	)
Total property, plant and equipment-net	$	475.8		$	500.0

During the three months ended March 31, 2020 and 2019 depreciation expense was $28.2 million and $28.3 million, respectively.

During the fourth quarter of 2017, we entered into an agreement to sell a printing facility in Shenzhen, China and transfer the related land use rights. As of March 31, 2020, we have received non-refundable deposits in accordance with the terms of the agreement of approximately $98.2 million which is recorded in Other noncurrent liabilities on the Consolidated Balance Sheets. As of March 31, 2020, the carrying cost of the building and land use rights is recorded in Other noncurrent assets and is not material. Additional deposits will be paid to us in accordance with the agreement. Gross proceeds from the sale, including non-refundable deposits, are expected to be approximately $250.0 million, subject to changes in the exchange rate, and we expect the transaction to close in 2022 after closing conditions are satisfied and government approvals are obtained.