| Property and Equipment, Net |
Property and Equipment, Net Property and equipment consists of the following components (dollars in thousands): | | | | | | | | | | | | | | | | | | June 30, 2025 | | December 31, 2024 | | Land and land improvements | | $ | 30,470 | | | $ | 30,810 | | | Buildings | | 92,530 | | | 93,780 | | | Machinery and equipment | | 559,950 | | | 524,390 | | | | 682,950 | | | 648,980 | | | Less: Accumulated depreciation | | 345,690 | | | 330,330 | | | Property and equipment, net | | $ | 337,260 | | | $ | 318,650 | |
Depreciation expense as included in the accompanying consolidated statement of income is as follows (dollars in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended June 30, | | Six months ended June 30, | | | 2025 | | 2024 | | 2025 | | 2024 | | Depreciation expense, included in cost of sales | | $ | 9,780 | | | $ | 9,740 | | | $ | 19,160 | | | $ | 19,490 | | | Depreciation expense, included in selling, general and administrative expenses | | 230 | | | 280 | | | 490 | | | 510 | | | Total depreciation expense | | $ | 10,010 | | | $ | 10,020 | | | $ | 19,650 | | | $ | 20,000 | |
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