Property, Plant and Equipment

12 Months Ended

Dec. 31, 2021

Property Plant And Equipment [Abstract]

4. Property, Plant and Equipment

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

	2021		2020
	(in thousands)
Land	$	329,354	$	206,321
Buildings and improvements		565,546		386,922
Machinery and equipment		937,648		517,543
Furniture, fixtures and information technology		138,115		102,309
Construction in progress		80,500		16,568
Finance lease right-of-use assets		6,054		43,256
Property, plant and equipment		2,057,217		1,272,919
Less: accumulated depreciation		671,776		523,789
Property, plant and equipment, net	$	1,385,441	$	749,130

Depreciation expense was $189.3 million, $94.5 million and $84.0 million, of which $43.5 million, $20.8 million, and $19.7 million was included in cost of sales, for the years ended December 31, 2021, 2020, and 2019, 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 consolidated balance sheet as of December 31:

	2021		2020
	(in thousands)
Land	$	110,878	$	116,638
Buildings and improvements		119,240		131,390
Assets held under other finance obligations		230,118		248,028
Less: accumulated amortization		24,309		25,015
Assets held under other finance obligations, net	$	205,809	$	223,013