XML 38 R17.htm IDEA: XBRL DOCUMENT v3.25.0.1
Property, Plant and Equipment
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Property, Plant and Equipment
Property, plant and equipment consist of the following:
December 31,
20242023
(In thousands)
Land$246,953 $212,722 
Buildings and improvements2,239,481 2,080,589 
Machinery and equipment7,389,787 7,022,614 
Finance lease assets274,302 209,506 
Furniture, fixtures and other equipment18,652 22,655 
Software and computer equipment215,031 200,362 
Construction in progress185,351 223,332 
Total property, plant and equipment10,569,557 9,971,780 
Accumulated depreciation and amortization(6,993,409)(6,672,335)
Total property, plant and equipment, net$3,576,148 $3,299,445 

During 2024, we acquired land for the Arizona Facility with a total fair market value of $36.9 million. We anticipate beginning construction of the new facility in the second half of 2025.

The following table summarizes our depreciation expense:
For the Year Ended December 31,
 202420232022
 (In thousands)
Depreciation expense$594,141 $630,941 $612,105 

The extension in the estimated useful lives of test equipment (Note 1) reduced depreciation expense by approximately $59 million in 2024. This benefited net income by approximately $49 million and diluted earnings per share by $0.20.