Property, Plant, and Equipment, Net

12 Months Ended

Sep. 30, 2013

Note 9. Property, plant, and equipment



	September 30,		September 30,
	2013		2012
Land and land improvements	$	57,562	$	27,794
Buildings and improvements		195,008		189,458
Leasehold improvements		18,924		20,821
Machinery and production equipment		305,692		284,494
Computer equipment and software		97,538		89,565
Office furniture and equipment		24,400		23,272
Other		14,197		2,444
Construction in progress		81,428		27,643
		794,749		665,491
Less accumulated depreciation		(444,701)		(430,986)
Property, plant and equipment, net	$	350,048	$	234,505

Woodward is developing a second campus in the greater-Rockford, Illinois area for its aerospace business in order to address the growth expected over the next ten years and beyond and to support a substantial number of recently awarded new system platforms, particularly on narrow-body aircraft. During fiscal year 2013, $1,809 was recorded to land and land improvements in connection with this development. Included in construction in progress at September 30, 2013 are $15,691 of costs associated with the construction of the second campus, including $444 of capitalized interest.

Woodward is also developing a new campus at its corporate headquarters in Fort Collins, Colorado to support the continued growth of our energy business by supplementing its existing Colorado manufacturing facilities and corporate headquarters. During fiscal year 2013, $9,302 was recorded to land and land improvements in connection with this development. Included in construction in progress at September 30, 2013 are $10,514 of costs associated with the construction of the new campus, including $394 of capitalized interest.

In addition, in September 2013, Woodward invested $25,602 on a building site in Niles, Illinois, of which $13,535 was recorded to land and land improvements. The remaining $12,067 is included in construction in progress at September 30, 2013. Woodward intends to build a new facility on this site for its aerospace business and will relocate some of its operations currently residing in Skokie, Illinois to this new facility.



	Year Ended September 30,
	2013		2012		2011
Depreciation expense	$	37,254	$	35,808	$	40,400

For the fiscal years ended September 30, 2013, 2012 and 2011, Woodward had capitalized interest that would have otherwise been included in interest expense of the following:



	Year Ended September 30,
	2013		2012		2011
Capitalized interest	$	1,215	$	658	$	1,354

- 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.

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