Property, Plant and Equipment

3 Months Ended

Dec. 31, 2020

Property Plant And Equipment [Abstract]

10.	Property, Plant and Equipment

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

	December 31, 2020			September 30, 2020
Land and land improvements	$	65.1		$	63.9
Buildings		382.5			377.1
Machinery and equipment		712.7			723.7
Software and related costs		179.8			175.6
Equipment on operating lease to others		21.3			21.7
Construction in progress		30.4			35.0
		1,391.8			1,397.0
Less accumulated depreciation		(836.6	)		(831.1	)
	$	555.2		$	565.9

Depreciation expense was $23.8 million (including $2.8 million of accelerated depreciation related to restructuring actions) and $20.3 million for the three months ended December 31, 2020 and 2019, 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 December 31, 2020 and September 30, 2020 was $18.1 million and $18.9 million, respectively.