Quarterly report pursuant to Section 13 or 15(d)

Property, plant, and equipment

v3.22.2
Property, plant, and equipment
3 Months Ended
Mar. 31, 2022
Property Plant And Equipment [Abstract]  
Property, plant, and equipment

5. Property, plant, and equipment

The following table summarizes the components of our property, plant, and equipment, net as of March 31, 2022, and December 31, 2021:

 

(In thousands)

 

March 31,

2022

 

 

December 31,

2021

 

Machinery and equipment

 

$

1,018,221

 

 

$

760,829

 

Mining property and mine development

 

 

35,491

 

 

 

34,809

 

Office equipment, software and other

 

 

13,876

 

 

 

5,550

 

Buildings and leasehold improvements

 

 

16,091

 

 

 

15,947

 

Total

 

 

1,083,679

 

 

 

817,135

 

Less: accumulated depreciation and depletion

 

 

(506,831

)

 

 

(464,178

)

Construction in progress

 

 

42,923

 

 

 

10,730

 

Property, plant, and equipment, net

 

$

619,771

 

 

$

363,687

 

 

Depreciation expense for the three months ended March 31, 2022 and 2021, was $44.2 million and $35.5 million, respectively. Major classifications of property, plant, and equipment and their respective useful lives are as follows:

 

Machinery and equipment

 

2 years—10 years

Office equipment, software, and other

 

3 years—7 years

Buildings and leasehold improvements

 

2 years—40 years