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Property, Plant and Equipment
 12 Months Ended
Dec. 31, 2022
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment

NOTE 8 - PROPERTY, PLANT AND EQUIPMENT

 

 

 

December 31,
2022

 

 

December 31,
2021

 

(Dollars in thousands)

 

 

 

 

 

 

Land and buildings

 

$

144,870

 

 

$

129,826

 

Machinery and equipment

 

 

887,222

 

 

 

861,097

 

Leasehold improvements and others

 

 

4,993

 

 

 

9,831

 

Construction in progress

 

 

80,263

 

 

 

67,529

 

 

 

 

1,117,348

 

 

 

1,068,283

 

Accumulated depreciation

 

 

(643,388

)

 

 

(573,882

)

Property, plant and equipment, net

 

$

473,960

 

 

$

494,401

 

 

Depreciation expense was $70.2 million and $73.3 million for the years ended December 31, 2022 and 2021, respectively.