Property, Plant and Equipment

12 Months Ended

Jun. 30, 2016

Property Plant And Equipment [Abstract]

Property, Plant and Equipment

Note 4. Property, Plant and Equipment

Property, plant and equipment consist of the following:

June 30,	2016			2015
($000)
Land and land improvements	$	4,990		$	4,566
Buildings and improvements		110,219			91,171
Machinery and equipment		409,551			366,560
Construction in progress		34,602			17,749
		559,362			480,046
Less accumulated depreciation		(316,505	)		(276,234	)
	$	242,857		$	203,812

During the quarter ended March 31, 2016, the Company’s one year timeframe to sell its manufacturing facility in New Port Ritchey, Florida under U.S. GAAP accounting for assets held for sale expired. The Company reclassified the carrying value of the land and building of approximately $1.2 million from Prepaid and other current assets to Property, plant & equipment in the Consolidated Balance Sheet at June 30, 2016. The Company cumulatively adjusted suspended depreciation for the period in which the asset was classified as held for sale. The depreciation adjustment was insignificant.

Depreciation expense was $44.3 million, $41.1 million and $41.8 million for the fiscal years ended June 30, 2016, 2015 and 2014, respectively.

Included in the cost and accumulated depreciation of property, plant and equipment is the effect of foreign currency translation on the portion relating to the Company’s foreign subsidiaries.