Property and Equipment, Net (Tables)

9 Months Ended

Sep. 30, 2023

Property, Plant and Equipment [Abstract]

Property and Equipment

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

	September 30, 2023		December 31, 2022
Land and land improvements	$	32,620	$	15,220
Buildings	98,760		90,910
Machinery and equipment	480,740		461,480
	612,120		567,610
Less: Accumulated depreciation	295,430		289,860
Property and equipment, net	$	316,690	$	277,750

Depreciation Expense

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

	Three months ended September 30,				Nine months ended September 30,
	2023		2022		2023		2022
Depreciation expense, included in cost of sales	$	9,080	$	7,980	$	29,150	$	24,550
Depreciation expense, included in selling, general and administrative expenses	210		210		680		790
Total depreciation expense	$	9,290	$	8,190	$	29,830	$	25,340