Property, Plant, and Equipment

3 Months Ended

Mar. 31, 2026

Property, Plant and Equipment [Abstract]

. Property, Plant, and Equipment

The components of property, plant, and equipment were as follows (dollars in millions):


	March 31,			December 31,
	2026			2025
Land and land improvements	$	239.4		$	258.0
Buildings		1,339.6			1,343.8
Machinery and equipment		8,223.6			8,271.7
Construction in progress		655.6			552.8
Other		218.9			217.0
Property, plant and equipment, at cost		10,677.1			10,643.3
Less accumulated depreciation		(5,681.7	)		(5,658.2	)
Property, plant, and equipment, net	$	4,995.4		$	4,985.1

Depreciation expense for the three months ended March 31, 2026 and 2025 was $206.0 million and $128.1 million, respectively. During the three months ended March 31, 2026, we recognized $50.6 million of incremental depreciation expense related to the announced discontinuation of the No. 2 paper machine and kraft pulping facilities at the Wallula, Washington containerboard mill. We recognized $3.1 million of incremental depreciation expense during the three months ended March 31, 2025 as a result of closure costs related to corrugated products facilities.

At March 31, 2026 and December 31, 2025, purchases of property, plant, and equipment included in accounts payable were $99.8 million and $50.4 million, respectively.

PACKAGING CORP OF AMERICA 10-Q