Property, Plant and Equipment

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

Property, Plant and Equipment

Property, plant and equipment consist of the following:

	December 31,
	2023		2022
	(In thousands)
Land	$	212,722	$	214,763
Buildings and improvements	2,080,589		1,817,135
Machinery and equipment	7,022,614		6,757,652
Finance lease assets	209,506		165,122
Furniture, fixtures and other equipment	22,655		23,240
Software and computer equipment	200,362		240,610
Construction in progress	223,332		152,809
Total property, plant and equipment	9,971,780		9,371,331
Accumulated depreciation and amortization	(6,672,335)		(6,235,717)
Total property, plant and equipment, net	$	3,299,445	$	3,135,614

The following table summarizes our depreciation expense:

	For the Year Ended December 31,
	2023		2022		2021
	(In thousands)
Depreciation expense	$	630,941	$	612,105	$	562,962

In October 2023, we completed the first phase of construction for our Vietnam Facility and transferred $244.3 million from construction in progress to buildings and improvements.