Property, Plant and Equipment

3 Months Ended

Dec. 31, 2013

Property, Plant and Equipment [Abstract]

Property, plant and equipment consisted of the following (in millions):



	December 31,			September 30,
	2013			2013
Land and land improvements	$	47.4		$	47.8
Buildings	245.9			242.6
Machinery and equipment	587.5			583.1
Equipment on operating lease to others	28.9			19.6
	909.7			893.1
Less accumulated depreciation	(545.0		)	(530.9		)
	$	364.7		$	362.2

Depreciation expense recorded in continuing operations was $15.7 million and $15.8 million for the three months ended December 31, 2013 and 2012, respectively. Capitalized interest was insignificant for all reported periods.

Equipment on operating lease to others represents the cost of equipment shipped to customers for whom the Company has guaranteed the residual value and equipment on short-term leases. These transactions are accounted for as operating leases with the related assets capitalized and depreciated over their estimated economic lives of five to ten years. Cost less accumulated depreciation for equipment on operating lease to others at December 31, 2013 and September 30, 2013 was $22.5 million and $14.0 million, respectively.

- 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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