Property, Plant and Equipment

9 Months Ended

Jun. 30, 2021

Property Plant And Equipment [Abstract]

Property, Plant and Equipment

10. Property, Plant and Equipment

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

	June 30, 2021			September 30, 2020
Land and land improvements	$	66.6		$	63.9
Buildings		394.8			377.1
Machinery and equipment		713.5			723.7
Software and related costs		187.0			175.6
Equipment on operating lease to others		21.6			21.7
Construction in progress		39.4			35.0
		1,422.9			1,397.0
Less accumulated depreciation		(859.5	)		(831.1	)
	$	563.4		$	565.9

Depreciation expense was $20.7 million and $20.3 million for the three months ended June 30, 2021 and 2020, respectively. Depreciation expense was $66.0 million (including $3.6 million of accelerated depreciation) and $61.0 million for the nine months ended June 30, 2021 and 2020, 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 at June 30, 2021 and September 30, 2020 was $18.0 million and $18.9 million, respectively.