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Property, Plant, and Equipment | 6 Months Ended
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Mar. 31, 2019
Property, Plant, and Equipment |
Property, Plant and Equipment | Note 11. Property, plant, and equipment ﻿ ﻿
﻿ |  |  |  |  |  |
﻿ |  |  |  |  |  |
﻿ |  | March 31, |  | September 30,
﻿ |  | 2019 |  | 2018
﻿Land and land improvements |  | $ | 93,859 |  | $ | 94,146
﻿Buildings and building improvements |  |  | 579,057 |  |  | 565,065
﻿Leasehold improvements |  |  | 17,974 |  |  | 17,954
﻿Machinery and production equipment |  |  | 688,136 |  |  | 668,986
﻿Computer equipment and software |  |  | 120,612 |  |  | 124,788
﻿Office furniture and equipment |  |  | 36,205 |  |  | 31,533
﻿Other |  |  | 19,351 |  |  | 19,366
﻿Construction in progress |  |  | 99,235 |  |  | 103,036
﻿ |  |  | 1,654,429 |  |  | 1,624,874
﻿Less accumulated depreciation |  |  | (590,041) |  |  | (564,869)
﻿Property, plant, and equipment, net |  | $ | 1,064,388 |  | $ | 1,060,005
﻿ In the second quarter of fiscal year 2018, the Company announced its decision to relocate its Duarte, California operations to the Company’s newly renovated Drake Campus in Fort Collins, Colorado. The carrying value of the assets at the Duarte facility was $12,872 as of March 31, 2019, of which the Company has identified assets held for sale with a carrying value of $8,474. At September 30, 2018, the Company identified assets held for sale of $8,306. The majority of the assets held for sale are included in “Land and land improvements” and “Buildings and buildings improvements” which relate to the land, building and building improvements, and other assets at the Duarte facility. The assets held for sale are included in the Company’s Aerospace segment. Based on current market conditions, the Company expects to record a gain on the eventual sale of these assets. The Company has identified approximately $60 that is planned to be disposed of as a result of the relocation. The Company assessed whether the decision to relocate from its Duarte facility could indicate a potential impairment of the assets at the Duarte facility and concluded that the assets were not impaired as of March 31, 2019. 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 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 $27,716 at March 31, 2019 and $32,248 at September 30, 2018 associated with new equipment purchases for the greater-Rockford, Illinois campus and costs of $9,853 at March 31, 2019 and $3,967 at September 30, 2018 associated with new equipment purchases and the renovation of the Drake Campus. Included in “Office furniture and equipment” and “Other” is $1,627 at March 31, 2019 and $1,650 at September 30, 2018, of gross assets acquired on capital leases, and accumulated depreciation included $1,339 at March 31, 2019 and $1,158 at September 30, 2018 of amortization associated with the capital lease assets. For the three and six-months ended March 31, 2019 and 2018, Woodward had depreciation expense as follows: ﻿
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﻿ |  |  |  |  |  |  |  |  |  |  |  |
﻿ |  | Three-Months Ended |  | Six-Months Ended
﻿ |  | March 31, |  | March 31,
﻿ |  | 2019 |  | 2018 |  | 2019 |  | 2018
﻿Depreciation expense |  | $ | 20,164 |  | $ | 15,754 |  | $ | 41,333 |  | $ | 30,581
For the three and six-months ended March 31, 2019 and 2018, Woodward capitalized interest that would have otherwise been included in interest expense of the following: ﻿ ﻿ ﻿ ﻿ ﻿
﻿ |  |  |  |  |  |  |  |  |  |  |  |
﻿ |  |  |  |  |  |  |  |  |  |  |  |
﻿ |  | Three-Months Ended |  | Six-Months Ended
﻿ |  | March 31, |  | March 31,
﻿ |  | 2019 |  | 2018 |  | 2019 |  | 2018
﻿Capitalized interest |  | $ | 208 |  | $ | 633 |  | $ | 435 |  | $ | 1,234
﻿ ﻿

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 + Details
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- References No definition available. + Details
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