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Interest Expense-net | 12 Months Ended
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Dec. 31, 2022
Interest [Abstract] |
Interest Expense-net | Interest Expense-net The following chart summarizes the interest incurred, capitalized, and paid in 2022, 2021, and 2020:
(Thousands) |  | 2022 |  | 2021 |  | 2020
Interest incurred, net |  | $ | 23,014 |  |  | $ | 5,277 |  |  | $ | 3,889 |
Less: Capitalized interest |  | 1,109 |  |  | 376 |  |  | 10 |
Total net expense |  | $ | 21,905 |  |  | $ | 4,901 |  |  | $ | 3,879 |
Interest paid |  | $ | 21,190 |  |  | $ | 3,652 |  |  | $ | 3,442 |
The increase in interest expense in 2022 versus 2021 was driven by increased borrowings under our revolving credit facility and new term loan during 2021 primarily to finance the acquisition of HCS-Electronic Materials. Amortization of deferred financing costs within interest expense was $1.7 million in 2022, $1.0 million in 2021, and $0.8 million in 2020.

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- Definition Interest. + References No definition available. + Details
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- Definition The entire disclosure for interest income and interest expense for enterprises that derive a significant portion of their revenue from interest collected on investments, loans, and securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04.1-12) -URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260 + Details
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