Property, Plant, and Equipment, Net

12 Months Ended

Dec. 31, 2024

Property, Plant and Equipment [Abstract]

Property, plant and equipment, net as of December 31 was as follows:


	2024		2023		Estimated Useful Life
	(In thousands)				(In years)
Land	$	8,662	$	8,662	—
Buildings and improvements	54,936		52,667		5 to 33
Machinery and equipment	86,689		78,019		4 to 12
Vehicles	133,437		113,783		5 to 8
Other	7,963		6,718		3 to 7
Property, plant and equipment, gross	291,687		259,849
Less: accumulated depreciation	157,278		143,831
Property, plant and equipment, net	$	134,409	$	116,018

For the years ended December 31, 2024, 2023 and 2022, depreciation expense was $23.4 million, $21.1 million and $19.2 million, respectively.

Depreciation expense is recognized in Cost of sales and Selling, general and administrative expenses on the consolidated statements of income.

The components of certain equipment leased to third parties under operating leases, which are included within Property, plant and equipment, net in the consolidated balance sheets, were as follows as of December 31;


	2024		2023
	(In thousands)
Machinery and equipment	$	59,549	$	56,186
Less: accumulated depreciation	29,687		29,134
Property, plant and equipment, net	$	29,862	$	27,052