Property, Plant and Equipment

12 Months Ended

Dec. 31, 2013

Property, Plant and Equipment [Abstract]

The components of property, plant and equipment are as follows:



	December 31,
(in thousands)	2013		2012
Land	$	21,801	$	22,258
Land improvements and leasehold improvements	67,153		63,013
Buildings and storage facilities	231,976		214,919
Machinery and equipment	308,215		287,896
Software	13,351		12,901
Construction in progress	48,135		34,965
	690,631		635,952
Less: accumulated depreciation and amortization	303,173		277,074
	$	387,458	$	358,878

Depreciation expense on property, plant and equipment amounted to $37.5 million, $27.4 million and

$20.4 million for the years ended 2013, 2012 and 2011, respectively.

The Company recorded charges totaling $4.4 million for asset impairment, primarily due to the write down of asset values in Retail. The Company wrote down the value of these assets to the extent their carrying amounts exceeded fair value. The Company classified the significant assumptions used to determine the fair value of the impaired assets, which was not material, as Level 3 in the fair value hierarchy.

Railcars

The components of Railcar assets leased to others are as follows:



	December 31,
(in thousands)	2013		2012
Railcar assets leased to others	$	317,750	$	310,614
Less: accumulated depreciation	77,129		82,284
	$	240,621	$	228,330

Depreciation expense on railcar assets leased to others amounted to $14.7 million, $15.9 million and $13.8 million for the years ended 2013, 2012 and 2011, respectively.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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