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Segment Information
 6 Months Ended
Mar. 31, 2017
Segment Information  
Segment Information

Note 21.  Segment information

Woodward serves the aerospace, industrial and energy 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:





 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 



 

Three-Months Ended

 

Six-Months Ended



 

March 31,

 

March 31,



 

2017

 

2016

 

2017

 

2016

Segment external net sales:

 

 

 

 

 

 

 

 

 

 

 

 

Aerospace

 

$

 320,526 

 

$

 290,690 

 

$

 587,206 

 

$

 559,289 

Industrial

 

 

 179,855 

 

 

 188,692 

 

 

 356,069 

 

 

 365,203 

Total consolidated net sales

 

$

 500,381 

 

$

 479,382 

 

$

 943,275 

 

$

 924,492 

Segment earnings:

 

 

 

 

 

 

 

 

 

 

 

 

Aerospace

 

$

 58,227 

 

$

 50,578 

 

$

 105,104 

 

$

 94,064 

Industrial

 

 

 17,089 

 

 

 19,469 

 

 

 35,087 

 

 

 41,020 

Nonsegment expenses

 

 

 (18,764)

 

 

 (9,888)

 

 

 (30,145)

 

 

 (40,508)

Interest expense, net

 

 

 (6,316)

 

 

 (5,793)

 

 

 (12,751)

 

 

 (12,254)

Consolidated earnings before income taxes

 

$

 50,236 

 

$

 54,366 

 

$

 97,295 

 

$

 82,322 



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:





 

 

 

 

 

 



 

 

 

 

 

 



 

March 31, 2017

 

September 30, 2016

Segment assets:

 

 

 

 

 

 

Aerospace

 

$

 1,655,431 

 

$

 1,637,522 

Industrial

 

 

 681,722 

 

 

 705,169 

Unallocated corporate property, plant and equipment, net

 

 

 91,904 

 

 

 89,988 

Other unallocated assets

 

 

 178,103 

 

 

 209,683 

Consolidated total assets

 

$

 2,607,160 

 

$

 2,642,362