Property, Plant and Equipment, Net

12 Months Ended

Nov. 30, 2016

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment, Net

Property, Plant and Equipment, Net

	November 30,
	2016			2015
	(Dollars in millions)
Land	$	16.8		$	16.5
Building and improvements	146.8			140.7
Machinery and equipment	429.0			425.5
Construction in progress	14.4			16.1
	607.0			598.8
Accumulated depreciation	(401.2		)	(383.9		)
Property, Plant, and Equipment, Net	$	205.8		$	214.9

As of November 30, 2016, included in Land and Buildings and improvements are $3.0 million and $11.9 million (net of accumulated depreciation of $1.2 million), respectively, of assets under capital leases.

Depreciation expense was $26.8 million, $30.3 million, and $29.5 million in 2016, 2015, and 2014, respectively. Included in depreciation expense is $22.3 million, $26.0 million, and $23.4 million in 2016, 2015, and 2014, respectively, related to depreciation of manufacturing facilities and equipment.

As of November 30, 2016 and 2015, the Company had $3.9 million and $2.8 million, respectively, of unamortized software costs included in machinery and equipment, primarily related to an Enterprise Resource Program (ERP) system. Depreciation expense of software costs was $1.6 million, $1.0 million, and $0.6 million in 2016, 2015, and 2014, respectively. The Company is depreciating these costs over five years.

Included in depreciation expense is $3.0 million in 2016 and $5.8 million in 2015 of accelerated depreciation expense related to the conversion of the plant in Calhoun, Georgia to a distribution center and the transfer of styrene butadiene capacity in Mogadore, Ohio to the Green Bay, Wisconsin plant. The Calhoun, Georgia and Mogadore, Ohio assets are fully depreciated as of November 30, 2016.