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Property, Plant and Equipment
 9 Months Ended
Dec. 31, 2011
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment

7. Property, Plant and Equipment

Property, plant and equipment are carried at cost. Depreciation is calculated using the straight-line method over the estimated useful lives of each asset. Estimated useful lives for significant classes of assets are as follows: buildings and improvements 10 to 39 years, and machinery and equipment 3 to 25 years. Repairs and maintenance charges are expensed as incurred. Property, plant and equipment consist of the following (in thousands):

 

      September 30,       September 30,  
    December 31,     March 31,  
    2011     2011  

Property, plant and equipment, at cost:

                

Land

   $ 21,106     $ 16,046  

Buildings and improvements

     25,102       19,672  

Machinery and equipment

     15,434       11,453  
   

 

 

    

 

 

  
      61,642       47,171  
     

Accumulated depreciation

     (10,944 )      (11,178 ) 
   

 

 

    

 

 

  

Property, plant and equipment, net

   $ 50,698     $ 35,993  
   

 

 

    

 

 

  

During the nine months ended December 31, 2011, property, plant and equipment with a cost of $3.2 million and accumulated depreciation of $1.8 million was reclassified from property, plant and equipment to assets held for sale related to the anticipated sale of an idled manufacturing facility located in Phoenix, Arizona. As of the date of filing, the Company had entered into an agreement to sell the property, but the transaction has not yet closed. During the nine months ended December 31, 2011, assets held for sale of $1.8 million, consisting of land located in Millersburg, Oregon, was reclassified to property, plant and equipment.