Knife River Corp
For the period ended Dec 31, 2023. Filed Feb 27, 2024.
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FY2023 · Filed Feb 27, 2024
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5. Property, Plant and Equipment
Note 5 –Property, Plant and Equipment
Property, plant and equipment at December 31 was as follows:
| 2023 | 2022 | Weighted Average Depreciable Life in Years | |
|---|---|---|---|
| (In thousands) | |||
| Land | $154,475 | $150,809 | — |
| Aggregate reserves | 589,034 | 592,097 | * |
| Buildings and improvements | 216,473 | 165,833 | 22.32 |
| Machinery, vehicles and equipment | 1,590,908 | 1,492,506 | 11.68 |
| Construction in progress | 28,844 | 88,163 | — |
| Less: accumulated depreciation and depletion | 1,264,687 | 1,174,195 | |
| Net property, plant and equipment | $1,315,047 | $1,315,213 | |
*Depleted on the units-of-production method based on proven and probable aggregate reserves.
Total depreciation and depletion expense was $119.2 million, $113.6 million and $93.9 million for the years ended December 31, 2023, 2022 and 2021, respectively.
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