The components of property, plant and equipment at September 30, 2021 and December 31, 2020 were as follows:

	September 30, 2021			December 31, 2020
Land	$	35.5		$	38.2
Buildings		361.2			361.0
Machinery and equipment		1,676.2			1,703.1
		2,072.9			2,102.3
Less: Accumulated depreciation		(1,664.6	)		(1,663.5	)
Total property, plant and equipment-net	$	408.3		$	438.8

During the three and nine months ended September 30, 2021 depreciation expense was $22.0 million and $68.0 million, respectively. During the three and nine months ended September 30, 2020 depreciation expense was $24.1 million and $77.8 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 September 30, 2021, we have received deposits in accordance with the terms of the agreement of approximately $123.3 million which are recorded in other noncurrent liabilities on the Condensed Consolidated Balance Sheets. As of September 30, 2021, the carrying value of the building and land use rights is recorded in other noncurrent assets and is not material. In accordance with the agreement, additional scheduled deposits are required to be paid to us with the final payment due in 2022. Gross proceeds from the sale are expected to be approximately $250.0 million, subject to changes in the exchange rate. 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.

In the third quarter of 2021, the buyer missed the required scheduled deposit payment. As a result, we are taking necessary actions to preserve our rights under the agreement which may include terminating the agreement.