Property and Equipment, Net

3 Months Ended

Mar. 31, 2019

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



	March 31, 2019		December 31, 2018
Land and land improvements	$	16,260	$	15,580
Buildings	78,690		74,110
Machinery and equipment	326,220		318,860
	421,170		408,550
Less: Accumulated depreciation	224,080		220,750
Property and equipment, net	$	197,090	$	187,800

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



	Three months ended March 31,
	2019		2018
Depreciation expense, included in cost of sales	$	5,890	$	5,810
Depreciation expense, included in selling, general and administrative expenses	340		520
Total depreciation expense	$	6,230	$	6,330