Property, Plant and Equipment

12 Months Ended

Dec. 31, 2020

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

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)	2020		2019
Land and improvements	$	22,589	$	21,697
Buildings and improvements	155,669		165,968
Machinery and equipment	324,773		281,771
Office equipment	59,001		68,349
Property plant and equipment, gross	562,032		537,785
Accumulated depreciation	(365,844)		(341,119)
Property, plant and equipment, net	196,188		196,666
Equipment in process	76,190		63,580
Total property, plant and equipment, net	$	272,378	$	260,246

Depreciation expense was $29.3 million in 2020, $31.4 million in 2019 and $33.5 million in 2018.