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Property, Plant and Equipment | 9 Months Ended
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Sep. 30, 2021
Property Plant And Equipment [Abstract] |
Property, Plant and Equipment | 5. Property, Plant and Equipment Property, plant and equipment consisted of the following (in thousands):
|  | September 30, 2021 |  |  | December 31, 2020 |
Land |  | $ | 326,337 |  |  | $ | 206,321 |
Buildings and improvements |  |  | 545,417 |  |  |  | 386,922 |
Machinery and equipment |  |  | 872,534 |  |  |  | 517,543 |
Furniture, fixtures and information technology |  |  | 129,653 |  |  |  | 102,309 |
Construction in progress |  |  | 84,386 |  |  |  | 16,568 |
Finance lease right-of-use assets |  |  | 6,054 |  |  |  | 43,256 |
Property, plant and equipment |  |  | 1,964,381 |  |  |  | 1,272,919 |
Less: accumulated depreciation |  |  | 627,491 |  |  |  | 523,789 |
Property, plant and equipment, net |  | $ | 1,336,890 |  |  | $ | 749,130 |
Depreciation expense was $47.7 million and $24.0 million, of which $11.0 million and $5.3 million was included in cost of sales, for the three months ended September 30, 2021 and 2020, respectively. Depreciation expense was $139.9 million and $70.6 million, of which $31.9 million and $15.3 million was included in cost of sales, for the nine months ended September 30, 2021 and 2020, respectively. Included in property, plant and equipment are certain assets held under other finance obligations. These assets are recorded at the present value of the lease payments and include land, buildings and equipment. Amortization charges associated with assets held under other finance obligations are included in depreciation expense. The following balances held under other finance obligations are included on the accompanying condensed consolidated balance sheets (in thousands):
|  | September 30, 2021 |  |  | December 31, 2020 |
Land |  | $ | 110,953 |  |  | $ | 116,638 |
Buildings and improvements |  |  | 119,660 |  |  |  | 131,390 |
Assets held under other finance obligations |  |  | 230,613 |  |  |  | 248,028 |
Less: accumulated amortization |  |  | 23,649 |  |  |  | 25,015 |
Assets held under other finance obligations, net |  | $ | 206,964 |  |  | $ | 223,013 |

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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://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=120429125&loc=d3e99893-112916 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=120429125&loc=SL120174063-112916 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 1 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120429125&loc=d3e99779-112916 + Details
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