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Segment Information | 12 Months Ended
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Sep. 30, 2014
Segment Information |
Segment Information | Note 20. Segment information Woodward serves the aerospace market and the energy market through its two reportable segments - Aerospace and Energy. Woodward’s reportable segments are aggregations of Woodward’s operating segments. Woodward use s reportable segment information internally to manage its business, including the assessment of business segment performance and decisions for the allocation of resources between segments. The accounting policies of the reportable segments are the same as those of the Company. Woodward evaluates segment profit or loss based on internal performance measures for each segment in a given period. In connection with that assessment, Woodward excludes matters such as charges for restructuring costs, interest income and expense, and certain gains and losses from asset dispositions. A summary of consolidated net sales and earnings by segment follows:
| Year Ended September 30,
| 2014 |  | 2013 |  | 2012
Segment external net sales: |  |  |  |  |  |  |  |
Aerospace | $ | 1,084,025 |  | $ | 1,061,477 |  | $ | 896,083
Energy |  | 917,215 |  |  | 874,499 |  |  | 969,544
Total consolidated net sales | $ | 2,001,240 |  | $ | 1,935,976 |  | $ | 1,865,627
Segment earnings: |  |  |  |  |  |  |  |
Aerospace | $ | 159,200 |  | $ | 166,122 |  | $ | 130,192
Energy |  | 134,278 |  |  | 98,940 |  |  | 126,441
Total segment earnings |  | 293,478 |  |  | 265,062 |  |  | 256,633
Nonsegment expenses |  | (43,701) |  |  | (39,061) |  |  | (33,365)
Interest expense, net |  | (22,533) |  |  | (26,430) |  |  | (25,461)
Consolidated earnings before income taxes | $ | 227,244 |  | $ | 199,571 |  | $ | 197,807
Segment assets consist of accounts receivable, inventories, property, plant, and equipment, net, goodwill, and other intangibles, net. A summary of consolidated total assets, consolidated depreciation and amortization and consolidated capital expenditures follows:
| Year Ended September 30,
| 2014 |  | 2013 |  | 2012
Segment assets: |  |  |  |  |  |  |  |
Aerospace | $ | 1,440,355 |  | $ | 1,361,861 |  | $ | 1,059,754
Energy |  | 610,345 |  |  | 599,007 |  |  | 605,842
Total segment assets |  | 2,050,700 |  |  | 1,960,868 |  |  | 1,665,596
Unallocated corporate property, plant and equipment, net |  | 72,992 |  |  | 50,115 |  |  | 15,763
Other unallocated assets |  | 273,510 |  |  | 207,535 |  |  | 178,605
Consolidated total assets | $ | 2,397,202 |  | $ | 2,218,518 |  | $ | 1,859,964
Segment depreciation and amortization: |  |  |  |  |  |  |  |
Aerospace | $ | 46,895 |  | $ | 49,887 |  | $ | 43,840
Energy |  | 22,672 |  |  | 20,890 |  |  | 21,738
Total segment depreciation and amortization |  | 69,567 |  |  | 70,777 |  |  | 65,578
Unallocated corporate amounts |  | 7,786 |  |  | 3,456 |  |  | 3,039
Consolidated depreciation and amortization | $ | 77,353 |  | $ | 74,233 |  | $ | 68,617
Segment capital expenditures: |  |  |  |  |  |  |  |
Aerospace | $ | 134,307 |  | $ | 74,964 |  | $ | 32,244
Energy |  | 55,780 |  |  | 28,137 |  |  | 22,590
Total segment capital expenditures |  | 190,087 |  |  | 103,101 |  |  | 54,834
Unallocated corporate amounts |  | 17,019 |  |  | 38,499 |  |  | 10,066
Consolidated capital expenditures | $ | 207,106 |  | $ | 141,600 |  | $ | 64,900
Sales to General Electric were made by all of Woodward’s reportable segments and totaled approximately 15% of net sales in fiscal year 2014, 15% of net sales in fiscal year 2013, and 14% of net sales in fiscal year 2012. Accounts receivable from General Electric totaled approximately 12% of accounts receivable at September 30, 2014 and 11% of accounts receivable at September 30, 2013. U.S. Government related sales from Woodward’s reportable segments were as follows:
| Direct U.S. Government Sales |  | Indirect U.S. Government Sales |  | Total U.S. Government Related Sales
Fiscal year ended September 30, 2014 |  |  |  |  |  |  |  |
Aerospace | $ | 76,982 |  | $ | 254,806 |  | $ | 331,788
Energy |  | 2,517 |  |  | 5,588 |  |  | 8,105
Total net external sales | $ | 79,499 |  | $ | 260,394 |  | $ | 339,893
Percentage of total net sales |  | 4% |  |  | 13% |  |  | 17%
Fiscal year ended September 30, 2013 |  |  |  |  |  |  |  |
Aerospace | $ | 104,410 |  | $ | 289,197 |  | $ | 393,607
Energy |  | 3,649 |  |  | 8,106 |  |  | 11,755
Total net external sales | $ | 108,059 |  | $ | 297,303 |  | $ | 405,362
Percentage of total net sales |  | 6% |  |  | 15% |  |  | 21%
Fiscal year ended September 30, 2012 |  |  |  |  |  |  |  |
Aerospace | $ | 78,075 |  | $ | 254,636 |  | $ | 332,711
Energy |  | 3,904 |  |  | 7,228 |  |  | 11,132
Total net external sales | $ | 81,979 |  | $ | 261,864 |  | $ | 343,843
Percentage of total net sales |  | 4% |  |  | 14% |  |  | 18%
Accounts receivable from the U.S. Government totaled approximately 2% of accounts receivable at September 30, 2014 and 4% of accounts receivable at September 30, 2013. The customers who account for approximately 10% or more of sales to each of Woodward’s reporting segments for the fiscal year ended September 30, 2014 follow:
|  | Customer
Aerospace |  | United Technologies, Boeing, General Electric
Energy |  | General Electric, Weichai Westport
Net sales by geographical area, as determined by the location of the customer invoiced, were as follows:
| Year Ended September 30,
| 2014 |  | 2013 |  | 2012
United States | $ | 1,025,149 |  | $ | 1,058,912 |  | $ | 927,345
Europe (1) |  | 519,721 |  |  | 480,922 |  |  | 542,753
Asia |  | 299,755 |  |  | 287,742 |  |  | 288,738
Other countries |  | 156,615 |  |  | 108,400 |  |  | 106,791
Consolidated net sales | $ | 2,001,240 |  | $ | 1,935,976 |  | $ | 1,865,627
| (1) |  | As a percentage of consolidated net sales, net sales to customers in Germany accounted for 9% for the year ended September 30, 2014, 9% for the year ended September 30, 2013 and 13% for the year ended September 30, 2012.
Property, plant, and equipment, net by geographical area, as determined by the physical location of the assets, were as follows:
| At September 30,
| 2014 |  | 2013
United States | $ | 457,563 |  | $ | 285,038
Germany |  | 26,898 |  |  | 29,619
Other countries |  | 28,818 |  |  | 35,391
Consolidated property, plant and equipment, net | $ | 513,279 |  | $ | 350,048

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 + Details
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