Property and Equipment, Net

3 Months Ended

Mar. 31, 2023

Property, Plant and Equipment [Abstract]

Property and Equipment, Net

Property and Equipment, Net

Property and equipment consists of the following components (dollars in thousands):

	March 31, 2023		December 31, 2022
Land and land improvements	$	19,850	$	15,220
Buildings	96,030		90,910
Machinery and equipment	478,720		461,480
	594,600		567,610
Less: Accumulated depreciation	299,380		289,860
Property and equipment, net	$	295,220	$	277,750

Depreciation expense as included in the accompanying consolidated statement of income is as follows (dollars in thousands):

	Three months ended March 31,
	2023		2022
Depreciation expense, included in cost of sales	$	8,560	$	8,170
Depreciation expense, included in selling, general and administrative expenses	200		300
Total depreciation expense	$	8,760	$	8,470