Property and Equipment, Net

9 Months Ended

Sep. 30, 2021

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


	September 30, 2021		December 31, 2020
Land and land improvements	$	19,730	$	20,040
Buildings	92,520		91,970
Machinery and equipment	404,450		384,010
	516,700		496,020
Less: Accumulated depreciation	262,370		242,960
Property and equipment, net	$	254,330	$	253,060

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


	Three months ended September 30,				Nine months ended September 30,
	2021		2020		2021		2020
Depreciation expense, included in cost of sales	$	7,660	$	6,680	$	22,890	$	20,870
Depreciation expense, included in selling, general and administrative expenses	250		250		850		830
Total depreciation expense	$	7,910	$	6,930	$	23,740	$	21,700