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PROPERTY, PLANT AND EQUIPMENT, NET
12 Months Ended
Dec. 31, 2023
PROPERTY, PLANT AND EQUIPMENT, NET.  
PROPERTY, PLANT AND EQUIPMENT, NET

4. PROPERTY, PLANT AND EQUIPMENT, NET

Property, plant and equipment, net, consist of the following:

December 31, 

    

2022

    

2023

Buildings and plant

$

555,712

$

906,293

Machinery and equipment

 

1,094,834

 

2,020,209

Furniture, fixtures and equipment

 

79,593

 

124,283

Motor vehicles

 

2,140

 

3,219

Less: Accumulated depreciation

 

405,412

 

535,159

Property, plant and equipment, net

$

1,326,867

$

2,518,845

Construction in process

 

1,278,328

 

1,107,578

Total

$

2,605,195

$

3,626,423

Depreciation expense was $77.4 million, $107.1 million and $148.9 million for the years ended December 31, 2021, 2022 and 2023, respectively.