Property, Plant and Equipment

9 Months Ended

May 31, 2014

Property, Plant and Equipment [Abstract]

Property, plant and equipment is stated at cost, net of accumulated depreciation and consists of the following:



(In thousands)	May 31, 2014			August 31, 2013
Land	$	738		$	757
Buildings and building improvements	47,132			50,297
Machinery and equipment	91,412			88,280
Software	3,554			2,944
Transportation	9,063			9,044
Total property, plant and equipment, gross	151,899			151,322
Less accumulated depreciation	(129,234		)	(131,056		)
Total property, plant and equipment, net	$	22,665		$	20,266

In the second quarter of Fiscal 2014, 3M exercised an option to purchase warehouse facilities that they had leased from us since 1980. Net proceeds from the sale were $2.3 million, resulting in a gain of $629,000. We received lease payments of $860,000 and recorded depreciation charges of $148,000 in Fiscal 2013 related to these warehouse facilities.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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