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Property, Plant and Equipment
 9 Months Ended
Sep. 30, 2020
Property Plant And Equipment [Abstract]  
Property, Plant and Equipment

NOTE 7 - PROPERTY, PLANT AND EQUIPMENT

 

 

 

September 30,

2020

 

 

December 31,

2019

 

(Dollars in thousands)

 

 

 

 

 

 

 

 

Land and buildings

 

$

168,758

 

 

$

158,907

 

Machinery and equipment

 

 

829,983

 

 

 

856,961

 

Leasehold improvements and others

 

 

11,176

 

 

 

12,173

 

Construction in progress

 

 

44,045

 

 

 

30,179

 

 

 

 

1,053,962

 

 

 

1,058,220

 

Accumulated depreciation

 

 

(546,925

)

 

 

(528,938

)

Property, plant and equipment, net

 

$

507,037

 

 

$

529,282

 

 

Depreciation expense for the three and nine months ended September 30, 2020 was $18.3 million and $54.4 million, respectively. Depreciation expense for the three and nine months ended September 30, 2019 was $24.2 million and $57.4 million, respectively. Depreciation expense for the three months ended September 30, 2019 included accelerated depreciation of $7.6 million related to excess equipment arising from the plan to reduce production at our Fayetteville, Arkansas manufacturing facility (refer to Note 19, “Restructuring”).