Property, Plant, and Equipment

6 Months Ended

Jun. 30, 2023

Property, Plant and Equipment [Abstract]

8. Property, Plant, and Equipment

The components of property, plant, and equipment were as follows (dollars in millions):


	June 30,			December 31,
	2023			2022
Land and land improvements	$	196.7		$	192.4
Buildings		1,056.9			1,023.6
Machinery and equipment		6,877.9			6,709.3
Construction in progress		358.1			440.2
Other		172.5			146.9
Property, plant and equipment, at cost		8,662.1			8,512.4
Less accumulated depreciation		(4,775.4	)		(4,612.4	)
Property, plant, and equipment, net	$	3,886.7		$	3,900.0

Depreciation expense for the three months ended June 30, 2023 and 2022 was $117.4 million and $103.5 million, respectively. During the six months ended June 30, 2023 and 2022, depreciation expense was $236.3 million and $202.1 million, respectively. During the six months ended June 30, 2023, we recognized $9.3 million of incremental depreciation expense as a result of corrugated products facilities and design center closures and Jackson mill conversion-related activities. We recognized $1.7 million of incremental depreciation expense during the six months ended June 30, 2022 as a result of Jackson mill conversion-related activities.

At June 30, 2023 and December 31, 2022, purchases of property, plant, and equipment included in accounts payable were $31.2 million and $43.7 million, respectively.