Property and Equipment, Net (Notes)

3 Months Ended

Mar. 31, 2024

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, 2024		December 31, 2023
Land and land improvements	$	32,730	$	32,840
Buildings	99,550		99,230
Machinery and equipment	511,110		502,090
	643,390		634,160
Less: Accumulated depreciation	311,300		304,170
Property and equipment, net	$	332,090	$	329,990

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

	Three months ended March 31,
	2024		2023
Depreciation expense, included in cost of sales	$	9,750	$	8,560
Depreciation expense, included in selling, general and administrative expenses	230		200
Total depreciation expense	$	9,980	$	8,760