Property, Plant and Equipment

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

Note 5 – Property, Plant and Equipment

Our “Property, plant and equipment, net” line item in the consolidated statements of financial position consisted of the following:

	As of December 31,
(Dollars in thousands)	2019			2018
Land	$	21,697		$	21,525
Buildings and improvements	165,968			175,279
Machinery and equipment	281,771			256,301
Office equipment	68,349			64,886
Property plant and equipment, gross	537,785			517,991
Accumulated depreciation	(341,119		)	(317,414		)
Property, plant and equipment, net	196,666			200,577
Equipment in process	63,580			42,182
Total property, plant and equipment, net	$	260,246		$	242,759

Depreciation expense was $31.4 million in 2019, $33.5 million in 2018 and $29.3 million in 2017. Additionally, we recognized $1.5 million of impairment charges in both 2019 and 2018, respectively, primarily relating to certain assets from the Isola asset acquisition.