PROPERTY AND EQUIPMENT

12 Months Ended

Mar. 31, 2013

4. PROPERTY AND EQUIPMENT

Property and equipment are stated at cost, net of accumulated depreciation. The costs of major renewals and betterments are capitalized; repairs and maintenance costs are expensed when incurred. Depreciation of property and equipment is computed using the straight-line method over the estimated useful lives of the various classes of assets.

The following is a summary of the Company’s property and equipment and their estimated useful lives:

	March 31						Estimated Life
Description	2013			2012			in Years

Land	$	16,264		$	15,717		—
Buildings and leasehold improvements	146,407			134,297			5-30
Machinery and equipment	614,890			610,770			3-20
Computer equipment and software	54,097			58,182			2-5
Furniture, fixtures and other	14,596			21,738			2-7
	846,254			840,704
Less—accumulated depreciation	(502,422		)	(463,649		)
	$	343,832		$	377,055

Depreciation expense related to the Company’s property and equipment totaled $69,213 in 2013, $68,855 in 2012 and $65,323 in 2011.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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