Property, plant and equipment consists of the following as of June 30, 2022 and 2021 (in thousands):


	As of June 30, 2022
	Cost		Accumulated Depreciation		Net
Land	$	1,009	$	—	$	1,009
Buildings and building improvements	29,424		(17,242)		12,182
Machinery and equipment	110,469		(86,544)		23,925
Total	$	140,902	$	(103,786)	$	37,116


	As of June 30, 2021
	Cost		Accumulated Depreciation		Net
Land	$	1,012	$	—	$	1,012
Buildings and building improvements	29,599		(17,085)		12,514
Machinery and equipment	107,649		(85,183)		22,466
Total	$	138,260	$	(102,268)	$	35,992

Any finance leases as of June 30, 2022 and June 30, 2021 are de minimis. Depreciation expense was $5.3 million, $5.1 million and $5.2 million for the years ended June 30, 2022, 2021 and 2020, respectively.