Property, Plant and Equipment

6 Months Ended

Mar. 31, 2021

Property Plant And Equipment [Abstract]

10.	Property, Plant and Equipment

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

	March 31, 2021			September 30, 2020
Land and land improvements	$	65.6		$	63.9
Buildings		387.6			377.1
Machinery and equipment		711.3			723.7
Software and related costs		182.6			175.6
Equipment on operating lease to others		19.6			21.7
Construction in progress		41.6			35.0
		1,408.3			1,397.0
Less accumulated depreciation		(847.1	)		(831.1	)
	$	561.2		$	565.9

Depreciation expense was $20.2 million and $20.4 million for the three months ended March 31, 2021 and 2020, respectively. Depreciation expense was $41.7 million (including $2.8 million of accelerated depreciation related to restructuring actions) and $40.7 million for the six months ended March 31, 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 March 31, 2021 and September 30, 2020 was $16.4 million and $18.9 million, respectively.