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Property, Plant and Equipment
 12 Months Ended
Jun. 30, 2017
Property Plant And Equipment [Abstract]  
Property, Plant and Equipment

Note 4.

Property, Plant and Equipment

Property, plant and equipment consist of the following:

 

June 30,

 

2017

 

 

2016

 

($000)

 

 

 

 

 

 

 

 

Land and land improvements

 

$

5,667

 

 

$

4,990

 

Buildings and improvements

 

 

144,293

 

 

 

110,219

 

Machinery and equipment

 

 

492,042

 

 

 

409,551

 

Construction in progress

 

 

88,458

 

 

 

34,602

 

 

 

 

730,460

 

 

 

559,362

 

Less accumulated depreciation

 

 

(362,732

)

 

 

(316,505

)

 

 

$

367,728

 

 

$

242,857

 

 

During the quarter ended March 31, 2017, the Company sold its manufacturing facility located in Newport Ritchey, Florida. The Company received $1.7 million, net of customary closing costs and a $0.3 million reserve held in escrow for environmental purposes. The gain on sale of $0.3 million was recorded in other expense (income), net in the Consolidated Statement of Earnings.

Depreciation expense was $50.9 million, $44.3 million and $41.1 million for the fiscal years ended June 30, 2017, 2016 and 2015, respectively.

Included in the cost and accumulated depreciation of property, plant and equipment is the effect of foreign currency translation on the portion relating to the Company’s foreign subsidiaries.