The components of property, plant and equipment at June 30, 2020 and December 31, 2019 were as follows:

	June 30, 2020			December 31, 2019
Land	$	45.0		$	47.8
Buildings		369.6			379.9
Machinery and equipment		1,684.0			1,704.7
		2,098.6			2,132.4
Less: Accumulated depreciation		(1,639.4	)		(1,632.4	)
Total property, plant and equipment-net	$	459.2		$	500.0

During the three and six months ended June 30, 2020 depreciation expense was $25.5 million and $53.7 million, respectively. During the three and six months ended June 30, 2019 depreciation expense was $26.9 million and $55.2 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 June 30, 2020, we have received 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 June 30, 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 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. Our contract with the buyer requires them to pay the final installment in 2022 even if the government’s approval is further delayed. If the buyer fails to comply with terms of the agreement or terminates for any reason, the Company is entitled to retain 30% of the purchase price as liquidated damages.