PROPERTY, PLANT AND EQUIPMENT

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment at December 31, 2023 and 2022 are summarized as follows:

	2023		2022
Land	$	11,787	$	11,415
Building	104,363		90,644
Equipment	312,704		278,851
Construction in progress	59,981		79,928
	488,835		460,838
Less: Accumulated depreciation	212,796		189,483
Property, plant and equipment, net	$	276,039	$	271,355

Geographic Area Data - Long-Lived Assets (excluding intangible assets):

	2023		2022
United States	$	203,692	$	211,588
Foreign Countries	72,347		59,767
Total	$	276,039	$	271,355

Depreciation expense was $26,373, $24,033 and $23,295 for the years ended December 31, 2023, 2022 and 2021, respectively.

In accordance with Topic 360, the Company reviews long-lived assets for impairment on an annual basis and also whenever events indicate that the carrying amount of the assets may not be fully recoverable. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized by the amount by which the carrying amount of the asset exceeds the fair value of the asset, which is generally based on discounted cash flows. Included in “General and administrative expenses” were restructuring-related impairment and asset disposal charges of $7,764 related to building, equipment, and construction in progress mainly in the Human Nutrition and Health and the Animal Nutrition and Health segments, for the year ended December 31, 2023. Such expenses for the year ended December 31, 2022 were not material.