Property, Plant and Equipment

12 Months Ended

Sep. 30, 2020

Property Plant And Equipment [Abstract]

Property, Plant and Equipment

10.    Property, Plant and Equipment

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

	September 30,
	2020			2019
Land and land improvements	$	63.9		$	55.8
Buildings		377.1			325.8
Machinery and equipment		723.7			701.0
Software and related costs		175.6			181.2
Equipment on operating lease to others		21.7			39.5
Construction in progress		35.0			57.6
		1,397.0			1,360.9
Less accumulated depreciation		(831.1	)		(787.3	)
	$	565.9		$	573.6

Depreciation expense was $89.1 million (including $6.9 million of accelerated depreciation related to restructuring actions), $76.7 million and $79.8 million in fiscal 2020, 2019 and 2018, 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 September 30, 2020 and 2019 was $18.9 million and $31.3 million, respectively.