Property, Plant and Equipment

12 Months Ended

Dec. 31, 2021

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)	2021		2020
Land and improvements	$	24,804	$	22,589
Buildings and improvements	163,920		155,669
Machinery and equipment	322,653		324,773
Office equipment	57,156		59,001
Property plant and equipment, gross	568,533		562,032
Accumulated depreciation	(367,850)		(365,844)
Property, plant and equipment, net	200,683		196,188
Equipment in process	126,284		76,190
Total property, plant and equipment, net	$	326,967	$	272,378

Depreciation expense was $29.0 million, $29.3 million and $31.4 million in 2021, 2020 and 2019, respectively.