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Sale of Assets
 9 Months Ended
Sep. 30, 2016
Property, Plant and Equipment [Abstract]  
Sale of Assets
Property, Plant and Equipment
The components of property, plant and equipment are as follows:
(in thousands)
September 30,
2016
 
December 31,
2015
 
September 30,
2015
Land
$
28,473

 
$
29,928

 
$
30,285

Land improvements and leasehold improvements
82,908

 
77,191

 
76,414

Buildings and storage facilities
319,950

 
303,482

 
301,125

Machinery and equipment
393,178

 
375,028

 
368,338

Construction in progress
21,284

 
32,871

 
21,044

 
845,793

 
818,500

 
797,206

Less: accumulated depreciation
385,546

 
363,240

 
354,884

 
$
460,247

 
$
455,260

 
$
442,322


Depreciation expense on property, plant and equipment was $35.7 million and $34.1 million for the nine months ended September 30, 2016 and 2015, respectively. Additionally, Depreciation expense on property, plant and equipment was $12.0 million and $11.9 million for the three months ended September 30, 2016 and 2015, respectively. Capitalized software has been reclassified from property, plant, and equipment, and is now presented as a component of other intangible assets. Prior year balance sheets have been recast to conform with the current period presentation.
Rail Group Assets
The components of Rail Group assets leased to others are as follows:
(in thousands)
September 30,
2016
 
December 31,
2015
 
September 30,
2015
Rail Group assets leased to others
$
438,211

 
$
434,051

 
$
441,267

Less: accumulated depreciation
103,810

 
95,940

 
94,167

 
$
334,401

 
$
338,111

 
$
347,100


Depreciation expense on Rail Group assets leased to others amounted to $14.0 million and $12.9 million for the nine months ended September 30, 2016 and 2015, respectively. Additionally, depreciation expense on Rail Group assets leased to others amounted to $4.7 million and $4.6 million for the three months ended September 30, 2016 and 2015, respectively.
Sale of Assets

On April 5, 2016 the Company's Board of Directors approved the sale of eight grain and agronomy locations in Iowa to MaxYield Cooperative of West Bend, Iowa. The Andersons acquired these locations as a part of its 2012 acquisition from Green Plains Grain Company. The Tennessee assets acquired during that same transaction will remain a part of the Company.


This transaction closed on May 2, 2016.

Total cash received was $54.3 million and a nominal gain was recognized on the sale.