Property, Plant, and Equipment

12 Months Ended

Sep. 30, 2021

Property Plant And Equipment Net [Abstract]

Property, Plant and Equipment

Note 12.  Property, plant, and equipment

	September 30, 2021			September 30, 2020
Land and land improvements	$	86,051		$	83,095
Buildings and building improvements		553,693			551,540
Leasehold improvements		19,159			18,610
Machinery and production equipment		795,128			776,884
Computer equipment and software		124,444			123,903
Office furniture and equipment		39,987			41,177
Other		20,012			19,814
Construction in progress		38,317			36,367
		1,676,791			1,651,390
Less accumulated depreciation		(726,222	)		(653,975	)
Property, plant, and equipment, net	$	950,569		$	997,415

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, and in fiscal year 2019, finalized the relocation.  On December 30, 2019, the Company closed on the sale of one of two parcels of real property at the Duarte facility and recorded a pre-tax gain on sale of assets of $13,522.  On August 11, 2020, the Company closed on the sale of the final parcel of real property at the Duarte facility and recorded a pre-tax gain on sale of assets of $8,801.

During the three-months ended December 31, 2019, Woodward determined that the approved plan to divest of the disposal group represented a triggering event requiring the long-lived assets attributable to the disposal group be assessed for impairment.  Given the facts and circumstances at that time, Woodward determined that the remaining value of the plant, property and equipment of the disposal group was not recoverable, and a $13,421 non-cash impairment charge was recorded during fiscal year 2020.

On September 25, 2020 the Company closed on the sale of its Loveland, Colorado campus with a concurrent purchase of a new property in Windsor, Colorado for future operations, resulting in recognition of a pre-tax gain on sale of assets of $2,330.

For the fiscal years ended September 30, 2021, 2020, and 2019, Woodward had depreciation expense as follows:

	Year Ended September 30,
	2021		2020		2019
Depreciation expense	$	87,631	$	91,700	$	85,982