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Property, Plant, and Equipment, Net | 12 Months Ended
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Sep. 30, 2017
Property, Plant, and Equipment, Net |
Property, Plant and Equipment, Net | Note 9. Property, plant, and equipment ﻿ ﻿
﻿ |  |  |  |  |  |
﻿ |  |  |  |  |  |
﻿ |  | September 30, |  | September 30,
﻿ |  | 2017 |  | 2016
﻿Land and land improvements |  | $ | 88,326 |  | $ | 87,696
﻿Buildings and building improvements |  |  | 514,453 |  |  | 527,704
﻿Leasehold improvements |  |  | 16,142 |  |  | 15,213
﻿Machinery and production equipment |  |  | 543,641 |  |  | 484,315
﻿Computer equipment and software |  |  | 124,723 |  |  | 117,984
﻿Office furniture and equipment |  |  | 24,308 |  |  | 29,344
﻿Other |  |  | 19,393 |  |  | 18,969
﻿Construction in progress |  |  | 111,910 |  |  | 88,909
﻿ |  |  | 1,442,896 |  |  | 1,370,134
﻿Less accumulated depreciation |  |  | (520,853) |  |  | (493,784)
﻿Property, plant, and equipment, net |  | $ | 922,043 |  | $ | 876,350
﻿ I ncluded in “Office furniture and equipment” and “Other” is $1,653 at each of September 30, 2017 and September 30, 2016, of gross a ssets acquired on capital leases, and accumulated depreciation included $739 at September 30, 2017 and $322 at September 30, 2016 of amortization associated with the capital lease assets. In fiscal year 2015, Woodward completed and placed into service a manufacturing and office building on a second campus in the greater-Rockford, Illinois area and has occupied the new facility for its Aerospace segment. This campus is intended to support Woodward’s expected growth in its Aerospace segment over the next ten years and beyond, required as a result of Woodward being awarded a substantial number of new system platforms, particularly on narrow-body aircraft. Included in “Construction in progress” are costs of $49,347 at September 30, 201 7 and $26,741 at September 30, 2016 associated with new equipment purchases for the second campus. Concurrent with and in relation to Woodward’s significant investment in three new campuses and related equipment in the greater-Rockford, Illinois area, the new campus at its corporate headquarters in Fort Collins, Colorado (both discussed above), and the new campus in Niles, Illinois that was completed in fiscal year 2015, Woodward initiated a comprehensive review of its depreciation lives as required by U.S. GAAP to evaluate the estimates of the useful lives of Woodward assets. This review resulted in estimates of the useful lives of both existing and new assets generally in excess of those utilized prior to fiscal year 2016. The revised estimates were used in fiscal year 2016 and will be used going forward and result in a downward adjustment of depreciation on existing assets of approximately $12,000 for fiscal year 2016. For the fiscal years ended September 30, 201 7, 2016, and 20 15, Woodward had depreciation expense as follows: ﻿
﻿ |  |  |  |  |  |  |  |  |
﻿ |  |  |  |  |  |  |  |  |
﻿ |  | Year Ended September 30,
﻿ |  | 2017 |  | 2016 |  | 2015
﻿Depreciation expense |  | $ | 55,140 |  | $ | 41,550 |  | $ | 45,994
﻿ F or the fiscal years ended September 30, 201 7, 2016, and 20 15, Woodward capitalized interest that would have otherwise been included in interest expense of the following: ﻿
﻿ |  |  |  |  |  |  |  |  |
﻿ |  |  |  |  |  |  |  |  |
﻿ |  | Year Ended September 30,
﻿ |  | 2017 |  | 2016 |  | 2015
﻿Capitalized interest |  | $ | 2,008 |  | $ | 5,455 |  | $ | 8,995

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- Definition The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 + Details
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