Property and Equipment, Net

3 Months Ended

Mar. 31, 2017

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



	March 31, 2017		December 31, 2016
Land and land improvements	$	15,000	$	14,910
Buildings	70,880		71,100
Machinery and equipment	288,620		281,180
	374,500		367,190
Less: Accumulated depreciation	190,500		188,030
Property and equipment, net	$	184,000	$	179,160

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



	Three months ended March 31,
	2017		2016
Depreciation expense, included in cost of sales	$	5,200	$	5,230
Depreciation expense, included in selling, general and administrative expenses	600		710
Total depreciation expense	$	5,800	$	5,940