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Interest Expense-net
 12 Months Ended
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)202220212020
Interest incurred, net$23,014 $5,277 $3,889 
Less: Capitalized interest1,109 376 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.