Property, Plant, and Equipment

12 Months Ended

Dec. 31, 2023

Property, Plant, and Equipment

Property, Plant, and Equipment

Note 7 — Property, Plant, and Equipment

Property, plant, and equipment, net, consist of the following:

	December 31,		December 31,
	2023		2022		Average Useful Life
	(in thousands)
Land	$	5,061	$	5,061	N/A
Building and improvements		61,679		64,198	10 – 40 years
Machinery and equipment (1)		181,180		155,533	3 – 10 years
Leasehold improvements		52,913		54,764	3 – 17 years
Gross property, plant, and equipment		300,833		279,556
Less: accumulated depreciation and amortization		182,374		172,275
Net property, plant, and equipment	$	118,459	$	107,281

(1) Machinery and equipment also includes software, furniture, and fixtures

Depreciation expense was $16.5 million, $15.6 million, and $13.8 million for the years ended December 31, 2023, 2022, and 2021, respectively.