Property, Plant, and Equipment

9 Months Ended

Sep. 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):


	September 30,			December 31,
	2023			2022
Land and land improvements	$	196.9		$	192.4
Buildings		1,069.2			1,023.6
Machinery and equipment		6,925.5			6,709.3
Construction in progress		362.5			440.2
Other		175.3			146.9
Property, plant and equipment, at cost		8,729.4			8,512.4
Less accumulated depreciation		(4,866.0	)		(4,612.4	)
Property, plant, and equipment, net	$	3,863.4		$	3,900.0

Depreciation expense for the three months ended September 30, 2023 and 2022 was $118.6 million and $103.2 million, respectively. During the nine months ended September 30, 2023 and 2022, depreciation expense was $354.9 million and $305.3 million, respectively. During the nine months ended September 30, 2023, we recognized $11.9 million of incremental depreciation expense as a result of Jackson mill conversion-related activities and closure costs related to corrugated products facilities and design centers. We recognized $3.1 million of incremental depreciation expense during the nine months ended September 30, 2022 as a result of Jackson mill conversion-related activities and closure costs related to corrugated products facilities.

At September 30, 2023 and December 31, 2022, purchases of property, plant, and equipment included in accounts payable were $40.2 million and $43.7 million, respectively.