Property, plant and equipment as of December 31, 2022 and 2021 was comprised of the following:


	2022			2021
Land and land improvements	$	9,887		$	10,377
Buildings		62,102			63,166
Machinery and equipment		339,134			345,118
Construction-in-process		16,005			11,019
Other		6,706			6,798
		433,834			436,478
Accumulated depreciation		(278,836	)		(277,915	)
Property, plant and equipment, net	$	154,998		$	158,563

The land and building of Union Electric Steel UK Limited, an indirect subsidiary of the Corporation (“UES-UK”), equal to approximately $2,565 (£2,122) at December 31, 2022, are held as collateral by the trustees of the UES-UK defined benefit pension plan (see Note 11). Machinery and equipment purchased with proceeds from the equipment financing facility (see Note 9), equal to $6,388 at December 31, 2022, are included in construction-in-process and pledged as collateral for the facility. The remaining assets, other than real property, are pledged as collateral for the Corporation’s revolving credit facility (see Note 9).

Certain land and land improvements and buildings were included in the sale and leaseback financing transactions (see Note 9). Title to these assets lie with the lender; however, since the transactions qualified as financing transactions, versus sales, the assets remain recorded on the Corporation’s consolidated balance sheet.

The gross value of assets under finance leases and the related accumulated amortization approximated $3,917 and $1,577 as of December 31, 2022, respectively, and $3,882 and $1,263 as of December 31, 2021, respectively. Depreciation expense approximated $17,040 and $17,336, including depreciation of assets under finance leases of approximately $496 and $473, for the years ended December 31, 2022 and 2021, respectively.

The potential significant change brought about by the Russia-Ukraine conflict resulting in the European energy crisis was deemed to be a triggering event under ASC 360, Property, Plant and Equipment, causing the Corporation to evaluate whether the property, plant and equipment of an asset group within the FCEP segment was deemed to be impaired. Accordingly, in connection with preparation of its 2023 business plan in the fourth quarter of 2022, the Corporation completed a quantitative analysis of the long-lived assets for the asset group and determined the assets were not impaired. The Corporation continues to evaluate the uncertainty associated with the Russia-Ukraine conflict and, at December 31, 2022, there were no additional triggering events identified. Additionally, there have been no triggering events for the asset groups within the ALP segment.