Property, Plant, and Equipment, Net

3 Months Ended

Dec. 31, 2013

Note 9. Property, plant, and equipment



	December 31,		September 30,
	2013		2013
Land and land improvements	$	57,441	$	57,562
Buildings and improvements		198,315		195,008
Leasehold improvements		20,614		18,924
Machinery and production equipment		316,552		305,692
Computer equipment and software		99,507		97,538
Office furniture and equipment		24,510		24,400
Other		17,781		14,197
Construction in progress		97,754		81,428
		832,474		794,749
Less accumulated depreciation		(456,885)		(444,701)
Property, plant and equipment, net	$	375,589	$	350,048

Woodward is developing a second campus in the greater-Rockford, Illinois area for its aerospace business in order to address the growth expected over the next ten years and beyond and to support a substantial number of recently awarded new system platforms, particularly on narrow-body aircraft. Included in construction in progress at December 31, 2013 and September 30, 2013 are $27,803 and $15,691, respectively, of costs associated with the construction of the second campus, including $737 and $444, respectively, of capitalized interest.

Woodward is also developing a new campus at its corporate headquarters in Fort Collins, Colorado to support the continued growth of its energy business by supplementing its existing Colorado manufacturing facilities and corporate headquarters. Included in construction in progress at December 31, 2013 and September 30, 2013 are $14,651 and $10,514, respectively, of costs associated with the construction of the new campus, including $532 and $394, respectively, of capitalized interest.

In addition, in September 2013, Woodward invested in a building site in Niles, Illinois. Woodward is building a new facility on this site for its aerospace business and will relocate some of its operations currently residing in nearby Skokie, Illinois to this new facility. Included in construction in progress at December 31, 2013 and September 30, 2013 are $15,322 and $12,067, respectively, of costs associated with the construction of the new facility, including $346 and $0 respectively, of capitalized interest.

For the three-months ended December 31, 2013 and December 31, 2012, Woodward recorded depreciation expense of the following:

For the three-months ended December 31, 2013 and December 31, 2012, Woodward had capitalized interest that would have otherwise been included in interest expense of the following:

- 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.

+ References+ Details

Three-Months Ended

December 31,

Depreciation expense