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Property, Plant and Equipment
12 Months Ended
Dec. 31, 2014
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment
Property, Plant and Equipment
The components of property, plant and equipment are as follows:
 
December 31,
(in thousands)
2014
 
2013
Land
$
23,380

 
$
21,801

Land improvements and leasehold improvements
71,817

 
67,153

Buildings and storage facilities
275,059

 
231,976

Machinery and equipment
333,559

 
308,215

Software
55,436

 
13,351

Construction in progress
29,620

 
48,135

 
788,871

 
690,631

Less: accumulated depreciation and amortization
335,264

 
303,173

 
$
453,607

 
$
387,458



Depreciation expense on property, plant and equipment amounted to $44.3 million, $37.5 million and
$27.4 million for the years ended 2014, 2013 and 2012, respectively.

In December 2013, 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. 



Rail Group Assets
The components of the Rail Group assets leased to others are as follows:
 
December 31,
(in thousands)
2014
 
2013
Rail Group assets leased to others
$
384,958

 
$
317,750

Less: accumulated depreciation
87,211

 
77,129

 
$
297,747

 
$
240,621


Depreciation expense on Rail Group assets leased to others amounted to $14.2 million, $14.7 million and $15.9 million for the years ended 2014, 2013 and 2012, respectively.