PROPERTY, PLANT AND EQUIPMENT

3 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT

The following table details the components of property, plant and equipment, net:

	At December 31, 2023		At September 30, 2023
Land, building and building improvements	$	145,321	$	169,923
Machinery and equipment	456,968		447,972
Leasehold improvements	34,043		33,740
	636,332		651,635
Accumulated depreciation	(367,203)		(372,417)
Total	$	269,129	$	279,218

Depreciation expense for property, plant and equipment was $9,267 and $11,489 for the quarters ended December 31, 2023 and 2022, respectively. Depreciation included in Selling, general and administrative ("SG&A") expenses was $3,999 and $4,239 for the quarters ended December 31, 2023 and 2022, respectively. Remaining components of depreciation, attributable to manufacturing operations, are included in Cost of goods and services.

In connection with the expansion of CPP's global sourcing strategy announced on May 3, 2023, certain owned manufacturing locations which ceased operations have met the criteria to be classified as held for sale as of December 31, 2023. The net book value of these properties as of December 31, 2023 totaled $15,010.

Except as described in Note 16, Restructuring Charges, no event or indicator of impairment occurred during the three months ended December 31, 2023 which would require additional impairment testing of property, plant and equipment.