XML 50 R23.htm IDEA: XBRL DOCUMENT v3.23.3
PROPERTY, PLANT AND EQUIPMENT
12 Months Ended
Sep. 30, 2023
Property, Plant and Equipment [Abstract]  
PROPERTY PLANT AND EQUIPMENT PROPERTY, PLANT AND EQUIPMENT
Property, plant and equipment as of September 30, 2023 and 2022 consist of the following:
(in millions)
20232022
Land, buildings and improvements
$83.4 $75.7 
Machinery, tooling and equipment
330.1 312.4 
Computer software136.2 81.7 
Finance leases136.9 139.8 
Construction in progress
18.1 54.7 
Property, plant and equipment
$704.7 $664.3 
Accumulated depreciation
(429.6)(400.5)
Property, plant and equipment, net
$275.1 $263.8 
Depreciation expense from property, plant and equipment for the years ended September 30, 2023, 2022 and 2021 was $48.9 million, $49.0 million, and $51.9 million, respectively.
During the year ended September 30, 2023, the Company completed the sale of two facilities in its EMEA region, primarily consisting of office space supporting the GPC segment, with total proceeds of $5.2 million and resulting in a gain on sale of $2.7 million, included as General and Administrative Expense on the Consolidated Statements of Income for the year ended September 30, 2023.
During the year ended September 30, 2023, the Company recognized a $3.9 million impairment charge on idle equipment associated with the early exit of a GPC warehouse lease, included as Selling Expense on the Consolidated Statements of Income for the year ended September 30, 2023.