Property and Equipment, Net

9 Months Ended

Sep. 30, 2016

Property and equipment consists of the following components (dollars in thousands):



	September 30, 2016		December 31, 2015
Land and land improvements	$	15,040	$	14,820
Buildings	69,390		67,790
Machinery and equipment	286,580		274,650
	371,010		357,260
Less: Accumulated depreciation	189,010		176,130
Property and equipment, net	$	182,000	$	181,130

Depreciation expense as included in the accompanying consolidated statement of income is as follows (dollars in thousands):



	Three months ended September 30,				Nine months ended September 30,
	2016		2015		2016		2015
Depreciation expense, included in cost of sales	$	5,120	$	4,950	$	15,590	$	14,330
Depreciation expense, included in selling, general and administrative expenses	610		650		2,120		2,100
Total depreciation expense	$	5,730	$	5,600	$	17,710	$	16,430