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Property and Equipment, Net (Tables)
6 Months Ended
Jun. 30, 2023
Property, Plant and Equipment [Abstract]  
Property and Equipment
Property and equipment consists of the following components (dollars in thousands):
 June 30,
2023
December 31,
2022
Land and land improvements$32,780 $15,220 
Buildings103,180 90,910 
Machinery and equipment491,000 461,480 
626,960 567,610 
Less: Accumulated depreciation308,330 289,860 
Property and equipment, net$318,630 $277,750 
Depreciation Expense
Depreciation expense as included in the accompanying consolidated statement of income is as follows (dollars in thousands):
Three months ended June 30,Six months ended June 30,
2023202220232022
Depreciation expense, included in cost of sales$11,510 $8,400 $20,070 $16,570 
Depreciation expense, included in selling, general and administrative expenses270 280 470 580 
Total depreciation expense$11,780 $8,680 $20,540 $17,150