Property, Plant and Equipment, Net

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment, Net

(7) Property, Plant and Equipment, Net

A summary of property, plant and equipment, net is as follows (in thousands):

	December 31, 2023			December 31, 2022
Machinery and equipment	$	422,071		$	378,907
Buildings, improvements and leasehold improvements		66,746			70,816
Automobiles, trucks, tractors and trailers		8,106			6,376
Furniture and fixtures		22,746			19,373
Construction-in-progress		8,195			5,185
Land		25,654			26,695
Oil and gas producing assets		28,984			11,714
Total		582,502			519,066
Accumulated depreciation and depletion		(287,542	)		(236,690	)
Property, plant and equipment, net	$	294,960		$	282,376

We had $6.0 million and $7.1 million of leasehold improvements at December 31, 2023 and 2022, respectively. These leasehold improvements are depreciated over the shorter of the life of the asset or the term of the lease using the straight line method. Oil and gas producing assets include capitalized asset retirement costs associated with our oil and gas property, which are being depreciated over the remaining life of the underlying reserves. In December 2023, revisions to our decommissioning cost estimates resulted in the recognition of $16.0 million in additional capitalized asset retirement costs.

A summary of depreciation and depletion expense associated with our property, plant and equipment is as follows:

	For the Year Ended
	December 31,
	2023		2022
Depreciation	$	68,100	$	84,005
Depletion		2,305		3,615
Total depreciation and depletion	$	70,405	$	87,620