Property, Plant, and Equipment |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Property, Plant and Equipment [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Property, Plant, and Equipment | 8. Property, Plant, and Equipment The components of property, plant, and equipment were as follows (dollars in millions):
Depreciation expense for the three months ended June 30, 2025 and 2024 was $130.8 million and $118.7 million, respectively. During the six months ended June 30, 2025 and 2024, depreciation expense was $258.9 million and $236.8 million, respectively. During the six months ended June 30, 2025, we recognized $3.6 million of incremental depreciation expense as a result of closure costs related to corrugated products facilities. We recognized $1.5 million of incremental depreciation expense during the six months ended June 30, 2024 as a result of Jackson mill conversion-related activities. At June 30, 2025 and December 31, 2024, purchases of property, plant, and equipment included in accounts payable were $64.8 million and $33.8 million, respectively. |