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Property, Plant and Equipment
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment
H.
PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment, net consisted of the following at December 31, 2024 and 2023:

 

 

 

2024

 

 

2023 (1)

 

 

 

(in thousands)

 

Land

 

$

19,409

 

 

$

19,487

 

Buildings

 

 

183,371

 

 

 

127,705

 

Machinery, equipment and software

 

 

1,157,784

 

 

 

1,047,235

 

Furniture and fixtures

 

 

28,432

 

 

 

28,093

 

Leasehold improvements

 

 

67,387

 

 

 

66,777

 

Construction in progress

 

 

5,678

 

 

 

54,799

 

 

 

1,462,061

 

 

 

1,344,096

 

Less: accumulated depreciation

 

 

953,890

 

 

 

898,604

 

 

$

508,171

 

 

$

445,492

 

 

(1)
Excludes $9.0 million of property, plant and equipment, net classified as assets held for sale. See Note E: "Dispositions" for additional information.

 

Depreciation of property, plant and equipment for the years ended December 31, 2024, 2023, and 2022 was $101.0 million, $92.1 million, and $90.8 million, respectively. As of December 31, 2024 and 2023, the gross book value included in machinery and equipment for internally manufactured test systems being leased by customers was $25.7 million and $5.1 million, respectively. As of December 31, 2024 and 2023, the accumulated depreciation on these test systems was $5.5 million and $4.9 million, respectively.