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Property, Plant, and Equipment | 3 Months Ended
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Mar. 31, 2024
Property, Plant and Equipment [Abstract] |
Property, Plant, and Equipment | 8. Property, Plant, and Equipment The components of property, plant, and equipment were as follows (dollars in millions):
|  | March 31, |  |  | December 31, |
|  | 2024 |  |  | 2023 |
Land and land improvements |  | $ | 199.1 |  |  | $ | 197.8 |
Buildings |  |  | 1,091.3 |  |  |  | 1,090.4 |
Machinery and equipment |  |  | 7,021.3 |  |  |  | 7,006.7 |
Construction in progress |  |  | 395.9 |  |  |  | 335.8 |
Other |  |  | 178.6 |  |  |  | 177.0 |
Property, plant and equipment, at cost |  |  | 8,886.2 |  |  |  | 8,807.7 |
Less accumulated depreciation |  |  | (5,021.7 | ) |  |  | (4,943.9 | )
Property, plant, and equipment, net |  | $ | 3,864.5 |  |  | $ | 3,863.8 |
Depreciation expense for the three months ended March 31, 2024 and 2023 wa s $118.1 million a nd $118.8 million, respectively. During the three months ended March 31, 2024, we recognized $1.5 million of incremental depreciation expense as a result of Jackson mill conversion-related activities. We recognized $6.3 million of incremental depreciation expense during the three months ended March 31, 2023 as a result of corrugated products facilities and design center closures and Jackson mill conversion-related activities. At March 31, 2024 and December 31, 2023, purchases of property, plant, and equipment included in accounts payable were $69.9 million and $24.2 million, respectively.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-7 + Details
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