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Property, Plant, and Equipment | 9 Months Ended
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Sep. 30, 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):
|  | September 30, |  |  | December 31, |
|  | 2024 |  |  | 2023 |
Land and land improvements |  | $ | 199.6 |  |  | $ | 197.8 |
Buildings |  |  | 1,132.7 |  |  |  | 1,090.4 |
Machinery and equipment |  |  | 7,249.2 |  |  |  | 7,006.7 |
Construction in progress |  |  | 401.7 |  |  |  | 335.8 |
Other |  |  | 196.9 |  |  |  | 177.0 |
Property, plant and equipment, at cost |  |  | 9,180.1 |  |  |  | 8,807.7 |
Less accumulated depreciation |  |  | (5,197.8 | ) |  |  | (4,943.9 | )
Property, plant, and equipment, net |  | $ | 3,982.3 |  |  | $ | 3,863.8 |
Depreciation expense for the three months ended September 30, 2024 and 2023 wa s $122.7 million a nd $118.6 million, respectively. During the nine months ended September 30, 2024 and 2023, depreciation expense was $359.5 million and $354.9 million, respectively. During the nine months ended September 30, 2024, we recognized $1.7 million of incremental depreciation expense as a result of Jackson mill conversion-related activities and closure costs related to corrugated products facilities. We recognized $11.9 million of incremental depreciation expense during the nine months ended September 30, 2023 as a result of Jackson mill conversion-related activities and closure costs related to corrugated products facilities and design centers. At September 30, 2024 and December 31, 2023, purchases of property, plant, and equipment included in accounts payable were $45.7 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/1943274/2147477798/958-360-50-6 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/1943274/2147477798/958-360-50-1 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/1943274/2147477798/958-360-50-7 + Details
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