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Segment Information | 12 Months Ended
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Sep. 30, 2017
Segment Information |
Segment Information | Note 20. Segment information Woodward serves the a erospace and industrial markets through its two reportable segments – Aerospace and Industrial. When appropriate, 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. 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 generally 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: ﻿
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﻿ | Year Ended September 30,
﻿ | 2017 |  | 2016 |  | 2015
﻿Segment external net sales: |  |  |  |  |  |  |  |
﻿Aerospace | $ | 1,342,339 |  | $ | 1,233,176 |  | $ | 1,160,883
﻿Industrial |  | 756,346 |  |  | 789,902 |  |  | 877,420
﻿Total consolidated net sales | $ | 2,098,685 |  | $ | 2,023,078 |  | $ | 2,038,303
﻿Segment earnings: |  |  |  |  |  |  |  |
﻿Aerospace | $ | 257,813 |  | $ | 232,166 |  | $ | 187,747
﻿Industrial |  | 78,991 |  |  | 82,237 |  |  | 126,641
﻿Nonsegment expenses |  | (58,352) |  |  | (63,166) |  |  | (49,362)
﻿Interest expense, net |  | (25,705) |  |  | (24,751) |  |  | (24,077)
﻿Consolidated earnings before income taxes | $ | 252,747 |  | $ | 226,486 |  | $ | 240,949
﻿ |  |  |  |  |  |  |  |
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: ﻿
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﻿ |  |  |  |  |  |  |  |
﻿ | Year Ended September 30,
﻿ | 2017 |  | 2016 |  | 2015
﻿Segment assets: |  |  |  |  |  |  |  |
﻿Aerospace | $ | 1,722,789 |  | $ | 1,637,522 |  | $ | 1,566,421
﻿Industrial |  | 695,264 |  |  | 705,169 |  |  | 653,848
﻿Unallocated corporate property, plant and equipment, net |  | 104,755 |  |  | 89,988 |  |  | 85,834
﻿Other unallocated assets |  | 234,301 |  |  | 209,683 |  |  | 206,301
﻿Consolidated total assets | $ | 2,757,109 |  | $ | 2,642,362 |  | $ | 2,512,404
﻿ |  |  |  |  |  |  |  |
﻿Segment depreciation and amortization: |  |  |  |  |  |  |  |
﻿Aerospace | $ | 47,277 |  | $ | 40,825 |  | $ | 46,488
﻿Industrial |  | 24,421 |  |  | 20,412 |  |  | 20,768
﻿Unallocated corporate amounts |  | 9,219 |  |  | 7,799 |  |  | 7,979
﻿Consolidated depreciation and amortization | $ | 80,917 |  | $ | 69,036 |  | $ | 75,235
﻿ |  |  |  |  |  |  |  |
﻿Segment capital expenditures: |  |  |  |  |  |  |  |
﻿Aerospace | $ | 62,812 |  | $ | 90,749 |  | $ | 150,021
﻿Industrial |  | 12,189 |  |  | 62,065 |  |  | 113,292
﻿Unallocated corporate amounts |  | 17,335 |  |  | 22,878 |  |  | 23,299
﻿Consolidated capital expenditures | $ | 92,336 |  | $ | 175,692 |  | $ | 286,612
Sales to General Electric Company were made by both of Woodward’s reportable segm ents and totaled approximately 16% of net sales in fiscal year 201 7, 17% of net sales in fiscal year 201 6, and 1 8% of net sales in fiscal year 20 15. Sales to The Boeing Company were made by Woodward’s Aerospace segment and totaled approximately 11% of net sales in fiscal year 2017, 8% of net sales in fiscal year 2016, and 7% of net sales in fiscal year 2015. Accounts receivable from General Electric Company totaled approximately 10% of accounts receivable at September 30, 20 17 and 1 4% of accounts receivable at September 30, 201 6. Accounts receivable from Weichai Westport, Inc. totaled approximately 14% of accounts receivable at September 30, 2017 and 3% of accounts receivable at September 30, 2016. U.S. Government related sales from Woodward’s reportable segments were as follows: ﻿
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﻿ | Direct U.S. Government Sales |  | Indirect U.S. Government Sales |  | Total U.S. Government Related Sales
﻿Fiscal year ended September 30, 2017 |  |  |  |  |  |  |  |
﻿Aerospace | $ | 106,685 |  | $ | 362,536 |  | $ | 469,221
﻿Industrial |  | 3,726 |  |  | 10,814 |  |  | 14,540
﻿Total net external sales | $ | 110,411 |  | $ | 373,350 |  | $ | 483,761
﻿Percentage of total net sales |  | 5% |  |  | 18% |  |  | 23%
﻿ |  |  |  |  |  |  |  |
﻿Fiscal year ended September 30, 2016 |  |  |  |  |  |  |  |
﻿Aerospace | $ | 103,026 |  | $ | 310,952 |  | $ | 413,978
﻿Industrial |  | 6,550 |  |  | 9,845 |  |  | 16,395
﻿Total net external sales | $ | 109,576 |  | $ | 320,797 |  | $ | 430,373
﻿Percentage of total net sales |  | 5% |  |  | 16% |  |  | 21%
﻿ |  |  |  |  |  |  |  |
﻿Fiscal year ended September 30, 2015 |  |  |  |  |  |  |  |
﻿Aerospace | $ | 92,322 |  | $ | 258,391 |  | $ | 350,713
﻿Industrial |  | 4,836 |  |  | 8,839 |  |  | 13,675
﻿Total net external sales | $ | 97,158 |  | $ | 267,230 |  | $ | 364,388
﻿Percentage of total net sales |  | 5% |  |  | 13% |  |  | 18%
﻿ |  |  |  |  |  |  |  |
Accounts receivable from the U.S. Government totaled approximately 3% of accounts receivable at September 30, 2017 and 2% of accounts receivable at September 30, 2016. The customers who account for approximately 10% or more of sales to each of Woodward’s reportable segments for the fiscal year ended September 30, 2017 follow: ﻿
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﻿ |  |
﻿ |  | Customer
﻿Aerospace |  | The Boeing Company, United Technologies Corporation, General Electric Company
﻿Industrial |  | General Electric Company
Net sales by geographical area, as determined by the location of the customer invoiced, were as follows:
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﻿ | Year Ended September 30,
﻿ | 2017 |  | 2016 |  | 2015
﻿United States | $ | 1,211,902 |  | $ | 1,118,833 |  | $ | 1,054,895
﻿Europe (1) |  | 478,725 |  |  | 537,901 |  |  | 569,322
﻿Asia |  | 288,252 |  |  | 228,683 |  |  | 241,875
﻿Other countries |  | 119,806 |  |  | 137,661 |  |  | 172,211
﻿Consolidated net sales | $ | 2,098,685 |  | $ | 2,023,078 |  | $ | 2,038,303
﻿ |  |  |  |  |  |  |  |
| (1) |  | As a percentage of consolidated net sales, net sales to customers in Germany accounted for 8% for the year ended September 30, 2017, 10% for the year ended September 30, 2016 and 10% for the year ended September 30, 2015.
Property, plant, and equipment, net by geographical area, as determined by the physical location of the assets, were as follows: ﻿ ﻿
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﻿ | At September 30,
﻿ | 2017 |  | 2016
﻿United States | $ | 872,947 |  | $ | 826,225
﻿Germany |  | 24,541 |  |  | 24,468
﻿Other countries |  | 24,555 |  |  | 25,657
﻿Consolidated property, plant and equipment, net | $ | 922,043 |  | $ | 876,350
﻿

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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 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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