Property, Plant, and Equipment, Net

9 Months Ended

Jun. 30, 2014

Note 10. Property, plant, and equipment



	June 30,		September 30,
	2014		2013
Land and land improvements	$	57,586	$	57,562
Buildings and improvements		199,593		195,008
Leasehold improvements		20,926		18,924
Machinery and production equipment		325,916		305,692
Computer equipment and software		104,972		97,538
Office furniture and equipment		24,433		24,400
Other		18,889		14,197
Construction in progress		159,733		81,428
		912,048		794,749
Less accumulated depreciation		(475,574)		(444,701)
Property, plant and equipment, net	$	436,474	$	350,048

Woodward is developing a second campus in the greater-Rockford, Illinois area for its Aerospace segment 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. Included in construction in progress at June 30, 2014 and September 30, 2013 are $52,410 and $15,691, respectively, of costs associated with the construction of the second campus, including $1,870 and $444, respectively, of capitalized interest.

Woodward is also developing a new campus at its corporate headquarters in Fort Collins, Colorado to support the continued growth of its Energy segment by supplementing its existing Colorado manufacturing facilities and corporate headquarters. Included in construction in progress at June 30, 2014 and September 30, 2013 are $23,401 and $10,514, respectively, of costs associated with the construction of the new campus, including $1,246 and $394, respectively, of capitalized interest.

In addition, in September 2013, Woodward invested in a building site in Niles, Illinois. Woodward is building a new facility on this site for its Aerospace segment and will relocate some of its operations currently residing in nearby Skokie, Illinois to this new facility. Included in construction in progress at June 30, 2014 and September 30, 2013 are $34,130 and $12,067, respectively, of costs associated with the construction of the new facility, including $1,095 and $0 respectively, of capitalized interest.

For the three and nine-months ended June 30, 2014 and June 30, 2013, Woodward recorded depreciation expense of the following:



	Three-Months Ended				Nine-Months Ended
	June 30,				June 30,
	2014		2013		2014		2013
Depreciation expense	$	10,489	$	8,559	$	32,183	$	28,971

For the three and nine-months ended June 30, 2014 and June 30, 2013, Woodward had capitalized interest that would have otherwise been included in interest expense of the following:



	Three-Months Ended				Nine-Months Ended
	June 30,				June 30,
	2014		2013		2014		2013
Capitalized interest	$	1,676	$	322	$	3,965	$	510

- 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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