Property, Plant and Equipment

12 Months Ended

Sep. 30, 2017

Property, Plant and Equipment [Abstract]

5. Property, Plant and Equipment

Property, plant and equipment were as follows as of September 30, 2017 and 2016 (in thousands):


	September 30,
	2017		2016
Buildings and land	$	46,641	$	45,772
Computer equipment and software		56,544		65,989
Machinery and equipment		61,173		54,896
Furniture and fixtures		4,376		5,704
Leasehold improvements		18,938		17,128
Capital projects in progress		3,013		5,428
		190,685		194,917
Less accumulated depreciation and amortization		(132,223)		(140,032)
Property, plant and equipment, net	$	58,462	$	54,885

Depreciation expense was $11.0 million, $13.1 million and $12.3 million, respectively, for the fiscal years ended September 30, 2017, 2016 and 2015. The Company recorded $0.7 million of additions to property, plant and equipment for which cash payments had not yet been made as of September 30, 2017.

As of September 30, 2015, the building and the underlying land with a carrying value of $4.8 million located in Oberdiessbach, Switzerland were presented as "Assets Held for Sale" in the 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. The Company recognized a loss of $1.9 million in fiscal year 2015 for the difference between the assets’ fair value of $2.9 million and the carrying value of $4.8 million. The loss of $1.9 million was recognized as a component of "Other (expense) income, net" in the accompanying Consolidated Statements of Operations. During fiscal year 2016, the Company sold the building and the underlying land to an unrelated third party for a total price of $2.8 million and remeasured the fair value of the assets. The corresponding impact of this remeasurement on the Company’s results of operations for fiscal year 2016 was insignificant.