Warranty Accrual Cost and Estimated Earnings on Uncompleted Contracts Property, Plant and Equipment U.S. Revolver 34 The interest rate for amounts outstanding under the Amended  Credit Agreement for the U.S. Revolver is a floating rate based upon  the higher of the Federal Funds Rate plus 0.5%, or the bank’s prime  rate. Once the applicable rate is determined, a margin ranging up to  1.75%, as determined by our consolidated leverage ratio, is added  to the applicable rate.  In June 2013, we amended our existing credit agreement (Amended  Credit Agreement) with a major domestic bank. We amended  our credit facility in order to increase the dollar limit on capital  expenditures related to the construction of our new facilities in  Houston, Texas and Acheson, Alberta, Canada. The Amended  Credit Agreement provides for a $75.0 million revolving credit facility  (U.S. Revolver). Obligations are collateralized by the stock of certain  of our subsidiaries.  Included in property and equipment are assets under capital lease of  $0.5 million and $1.8 million at September 30, 2013 and 2012, with  related accumulated depreciation of $0.5 million and $1.0 million,  respectively. Depreciation expense, including the depreciation of  capital leases, was $8.5 million, $10.5 million and $10.6 million for  fiscal years 2013, 2012 and 2011, respectively. The increases in buildings and construction in process are primarily  the result of construction of the new facilities in Houston, Texas, and  Acheson, Alberta, Canada. Property, plant and equipment are summarized below (in thousands):  The annual maturities of long-term debt as of September 30, 2013,  were as follows (in thousands): Long-term debt consisted of the following (in thousands):  G. LONG-TERM DEBT Activity in our product warranty accrual consisted of the following  (in thousands): The components of costs and estimated earnings and related  amounts billed on uncompleted contracts are summarized below  (in thousands): Included in the accompanying balance sheets under the following  captions:  September 30, 2013 2012 Costs incurred on uncompleted  contracts  $ 6 97,76 0 $ 635,714 Estimated earnings 177,921 168,480 875,681 804,194 Less: Billings to date 849,261 754,604 Net underbilled position  $ 26,420 $  49,590 September 30, 2013 2012 Balance at beginning of year $ 5,714 $ 4,603 Increase to warranty expense 4,060 3,624 Deductions for warranty charges (4,359) (2,323) Increase (decrease) due to foreign currency translation 35 (190) Balance at end of year $ 5,450 $ 5,714 Costs and estimated earnings in excess  of billings on uncompleted contracts –  underbilled  $ 86,621 $ 86,734 Billings in excess of costs and  estimated earnings on uncompleted  contracts – overbilled (60,201) (37,144) Net underbilled position  $ 26,420 $  49,590 September 30, 2013 2012 Industrial development revenue bonds  $ 3,600 $ 4,000 Capital lease obligations 16 355 Subtotal long-term debt and capital lease  obligations 3,616 4,355 Less current portion (416) (725) Total long-term debt and capital lease  obligations  $ 3,200 $  3,630 September 30, 2013 2012 Range of  Asset  Lives Land $ 24,022  $ 24,766  — Buildings and  improvements 79,746 55,431 3 - 39 Years Machinery and  equipment 72,217 67,0 07 3 - 15 Years Furniture and fixtures 2,964 2,940 3 - 10 Years Construction in  process 48,300 7,224  — 227,249 157,3 6 8 Less: Accumulated  depreciation (82,660) (78,716) Total property, plant  and equipment, net $144,589 $  78,652 Year Ending September 30, Long-Term  Debt Maturities 2014 $ 416 2015 400 2016 400 2017 400 2018 400 Thereafter 1,600 Total long-term debt maturities $  3,616