XML 38 R27.htm IDEA: XBRL DOCUMENT v3.3.1.900
Segment Information
 3 Months Ended
Dec. 31, 2015
Segment Information  
Segment Information

Note 20.  Segment information

Woodward serves the aerospace, industrial and energy markets through its two reportable segments - Aerospace and Industrial.  Woodward’s reportable segments are aggregations of Woodward’s operating segments.  Woodward uses operating segment information internally to manage its business, including the assessment of operating segment performance and decisions for the allocation of resources between operating segments.

Woodward has changed the name of its Energy segment to Industrial.  The term “energy” is largely viewed as “oil and gas” and therefore was not representative of the broader markets Woodward serves in this segment.

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 certain charges for restructuring costs, interest income and expense, certain gains and losses from asset dispositions, or other non-recurring and/or non-operationally related expenses. 

A summary of consolidated net sales and earnings by segment follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three-Months Ended

 

 

December 31,

 

 

2015

 

2014

Segment external net sales:

 

 

 

 

 

 

Aerospace

 

$

 268,599 

 

$

 255,770 

Industrial

 

 

 176,511 

 

 

 231,876 

Total consolidated net sales

 

$

 445,110 

 

$

 487,646 

Segment earnings:

 

 

 

 

 

 

Aerospace

 

$

 43,486 

 

$

 35,793 

Industrial

 

 

 21,551 

 

 

 39,268 

Total segment earnings

 

 

 65,037 

 

 

 75,061 

Nonsegment expenses

 

 

 (30,620)

 

 

 (12,167)

Interest expense, net

 

 

 (6,461)

 

 

 (5,822)

Consolidated earnings before income taxes

 

$

 27,956 

 

$

 57,072 

 

 

Segment assets consist of accounts receivable; inventories; property, plant, and equipment, net; goodwill; and other intangibles, net.  A summary of consolidated total assets by segment follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2015

 

September 30, 2015

Segment assets:

 

 

 

 

 

 

Aerospace

 

$

 1,539,165 

 

$

 1,566,421 

Industrial

 

 

 640,248 

 

 

 653,848 

Total segment assets

 

 

 2,179,413 

 

 

 2,220,269 

Unallocated corporate property, plant and equipment, net

 

 

 89,004 

 

 

 85,834 

Other unallocated assets

 

 

 247,694 

 

 

 233,862 

Consolidated total assets

 

$

 2,516,111 

 

$

 2,539,965