Property, Plant, and Equipment, Net

6 Months Ended

Mar. 31, 2014

Note 10. Property, plant, and equipment



	March 31,		September 30,
	2014		2013
Land and land improvements	$	57,540	$	57,562
Buildings and improvements		199,314		195,008
Leasehold improvements		20,682		18,924
Machinery and production equipment		320,319		305,692
Computer equipment and software		101,726		97,538
Office furniture and equipment		24,399		24,400
Other		18,849		14,197
Construction in progress		125,761		81,428
		868,590		794,749
Less accumulated depreciation		(467,540)		(444,701)
Property, plant and equipment, net	$	401,050	$	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 March 31, 2014 and September 30, 2013 are $36,201 and $15,691, respectively, of costs associated with the construction of the second campus, including $1,262 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 March 31, 2014 and September 30, 2013 are $18,141 and $10,514, respectively, of costs associated with the construction of the new campus, including $864 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 March 31, 2014 and September 30, 2013 are $18,887 and $12,067, respectively, of costs associated with the construction of the new facility, including $365 and $0 respectively, of capitalized interest.

For the three and six-months ended March 31, 2014 and March 31, 2013, Woodward recorded depreciation expense of the following:



	Three-Months Ended				Six-Months Ended
	March 31,				March 31,
	2014		2013		2014		2013
Depreciation expense	$	11,062	$	10,139	$	21,694	$	20,412

For the three and six-months ended March 31, 2014 and March 31, 2013, Woodward had capitalized interest that would have otherwise been included in interest expense of the following:



	Three-Months Ended				Six-Months Ended
	March 31,				March 31,
	2014		2013		2014		2013
Capitalized interest	$	1,314	$	88	$	2,289	$	188

- 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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