Property, Plant and Equipment

12 Months Ended

Sep. 30, 2018

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

Property, Plant and Equipment

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

	September 30,
	2018			2017
Land and land improvements	$	54.2		$	58.5
Buildings	297.6			298.5
Machinery and equipment	673.0			652.2
Software and related costs	164.4			149.6
Equipment on operating lease to others	22.1			30.0
Construction in progress	11.4			—
	1,222.7			1,188.8
Less accumulated depreciation	(741.6		)	(718.9		)
	$	481.1		$	469.9

Depreciation expense was $79.8 million, $81.5 million and $73.3 million in fiscal 2018, 2017 and 2016, respectively. The Company recognized a long-lived asset impairment charge of $26.9 million during fiscal 2016. 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 September 30, 2018 and 2017 was $17.2 million and $21.6 million, respectively.