Other Balance Sheet Information

The following is a summary of accounts receivable at March 31, 2016 and September 30, 2015 (in thousands):



	March 31, 2016			September 30, 2015
Accounts receivable	$	106,090		$	87,582
Less: allowance for doubtful accounts	(1,753		)	(1,019		)
Less: allowance for sales returns	(112		)	(115		)
Accounts receivable, net	$	104,225		$	86,448

The following is a summary of inventories at March 31, 2016 and September 30, 2015 (in thousands):



	March 31, 2016		September 30, 2015
Inventories:
Raw materials and purchased parts	$	58,112	$	62,441
Work-in-process	17,238		21,563
Finished goods	25,388		16,615
Total inventories	$	100,738	$	100,619

Reserves for excess and obsolete inventory were $24.1 million and $23.8 million at March 31, 2016 and September 30, 2015, respectively.

As of March 31, 2016 and September 30, 2015, the building and the underlying land located in Oberdiessbach, Switzerland were presented at fair value of $2.9 million as "Assets Held for Sale" in the accompanying unaudited Consolidated Balance Sheets. The Company determined fair value of the assets held for sale based on indication of value resulting from marketing the building and the land to prospective buyers. Please refer to Note 17, "Fair Value Measurements" for further information on such measurements.

The Company establishes reserves for estimated cost of product warranties based on historical information. Product warranty reserves are recorded at the time product revenue is recognized, and retrofit accruals are recorded at the time retrofit programs are established. The Company’s warranty obligation is affected by product failure rates, utilization levels, material usage, service delivery costs incurred in correcting a product failure and supplier warranties on parts delivered to the Company.

The following is a summary of product warranty and retrofit activity on a gross basis for the three and six months ended March 31, 2016 and 2015 (in thousands):



Activity - Three Months Ended March 31, 2016
Balance at December 31, 2015		Accruals		Costs Incurred			Balance at March 31, 2016
$	5,767	$	2,376	$	(2,408	)	$	5,735



Activity - Three months ended March 31, 2015
Balance at December 31, 2014		Accruals		Costs Incurred			Balance at March 31, 2015
$	6,255	$	2,428	$	(2,480	)	$	6,203



Activity - Six Months Ended March 31, 2016
Balance at September 30, 2015		Accruals		Costs Incurred			Balance at March 31, 2016
$	6,089	$	4,712	$	(5,066	)	$	5,735



Activity - Six Months Ended March 31, 2015
Balance at September 30, 2014		Adjustments for Acquisitions and Divestitures		Accruals		Costs Incurred			Balance at March 31, 2015
$	6,499	$	81	$	5,145	$	(5,522	)	$	6,203