Property and Equipment, Net

9 Months Ended

Sep. 30, 2017

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



	September 30, 2017		December 31, 2016
Land and land improvements	$	15,180	$	14,910
Buildings	72,770		71,100
Machinery and equipment	295,500		281,180
	383,450		367,190
Less: Accumulated depreciation	197,650		188,030
Property and equipment, net	$	185,800	$	179,160

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,
	2017		2016		2017		2016
Depreciation expense, included in cost of sales	$	5,440	$	5,120	$	17,380	$	15,590
Depreciation expense, included in selling, general and administrative expenses	400		610		1,510		2,120
Total depreciation expense	$	5,840	$	5,730	$	18,890	$	17,710