OUR BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

Jan. 01, 2021


PP&E Lives						Estimated Useful Lives
						(years)
Land improvements						10
Buildings and improvements						5 to 40
Machinery and equipment						3 to 10
Furniture and fixtures						3 to 7
Software						3 to 10

A summary of property, plant and equipment and accumulated depreciation at period end follows:


Property, Plant and Equipment	January 1, 2021		September 30, 2020
(in thousands)
Land and improvements	$	788	$	788
Buildings and improvements	7,789		7,430
Buildings under finance lease	27,709		7,750
Machinery and equipment	34,486		34,095
Furniture and fixtures	8,579		8,113
Software	5,215		5,215
Construction in progress	12,289		6,079
Total property, plant and equipment, at cost	96,855		69,470
Accumulated depreciation	(46,987)		(45,883)
Property, plant and equipment, net	$	49,868	$	23,587

In November 2020, the Company commenced a lease for certain property located in Newark, New York, which includes a new state-of-the art manufacturing facility and administrative offices having approximately 153,000 square feet (the “Property”). The lease for the Property has an initial term of 15 years with one renewal option of 10 years resulting in a right of use asset of $19.1 million.

In October 2020, the Company acquired an industrial and office building and certain equipment located at 50 Jetview Drive, Rochester, New York (“Jetview building”). The value of the Jetview building is recorded at $5.4 million in the construction in progress section of the above schedule for the three months ended January 1, 2021.

Depreciation expense during the three months ended January 1, 2021 and December 27, 2019 follows:


	Three Months Ended
Depreciation Expense	January 1, 2021		December 27, 2019
(in thousands)
Depreciation expense	$	1,103	$	757