Property, Plant and Equipment

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

Property, Plant and Equipment

The components of property, plant and equipment are as follows:

	December 31,
(in thousands)	2022		2021
Land	$	38,689	$	39,162
Land improvements and leasehold improvements	92,084		91,122
Buildings and storage facilities	364,721		368,577
Machinery and equipment	980,159		936,476
Construction in progress	41,429		20,676
	1,517,082		1,456,013
Less: accumulated depreciation	(754,353)		(669,984)
Property, plant and equipment, net	$	762,729	$	786,029

Depreciation expense on property, plant and equipment amounted to $110.6 million, $126.9 million and $122.4 million for the years ended December 31, 2022, 2021 and 2020, respectively.

In December 2022, the Company recorded charges of $9.0 million for impairments of property, plant and equipment in the Trade segment related to a Nebraska grain asset.

In December 2021, the Company recorded charges of $7.7 million for impairments of property, plant and equipment in the Trade segment related to its frac sand assets in Oklahoma. The Company also recorded a $0.6 million impairment of property, plant and equipment in the Trade segment related to the shutdown of a facility in Texas.