Property, Plant, and Equipment

12 Months Ended

Sep. 30, 2022

Property Plant And Equipment Net [Abstract]

Property, Plant and Equipment

Note 12.  Property, plant, and equipment

	September 30, 2022			September 30, 2021
Land and land improvements	$	84,057		$	86,051
Buildings and building improvements		555,387			553,693
Leasehold improvements		19,392			19,159
Machinery and production equipment		779,514			795,128
Computer equipment and software		122,670			124,444
Office furniture and equipment		39,749			39,987
Other		20,162			20,012
Construction in progress		58,789			38,317
		1,679,720			1,676,791
Less accumulated depreciation		(769,248	)		(726,222	)
Property, plant, and equipment, net	$	910,472		$	950,569

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.

In the first quarter of fiscal year 2020, Woodward determined that the approved plan to divest of the disposal group (see Note 10, Acquisitions and Divestitures) 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, 2022, 2021, and 2020, Woodward had depreciation expense as follows:

	Year Ended September 30,
	2022		2021		2020
Depreciation expense	$	83,019	$	87,631	$	91,700