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Segment Information | 9 Months Ended
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Jun. 30, 2018
Segment Information |
Segment Information | Note 22. Segment information Woodward serves the aerospace 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. L’Orange has been included in Woodward’s Industrial segment results since the Closing. 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, 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 |  | Nine-Months Ended
﻿ |  | June 30, |  | June 30,
﻿ |  | 2018 |  | 2017 |  | 2018 |  | 2017
﻿Segment external net sales: |  |  |  |  |  |  |  |  |  |  |  |
﻿Aerospace |  | $ | 404,612 |  | $ | 355,992 |  | $ | 1,096,860 |  | $ | 943,198
﻿Industrial |  |  | 183,505 |  |  | 192,630 |  |  | 509,654 |  |  | 548,699
﻿Total consolidated net sales |  | $ | 588,117 |  | $ | 548,622 |  | $ | 1,606,514 |  | $ | 1,491,897
﻿Segment earnings: |  |  |  |  |  |  |  |  |  |  |  |
﻿Aerospace |  | $ | 82,199 |  | $ | 67,173 |  | $ | 198,721 |  | $ | 172,277
﻿Industrial |  |  | 10,450 |  |  | 20,870 |  |  | 40,031 |  |  | 55,957
﻿Nonsegment expenses |  |  | (30,696) |  |  | (12,945) |  |  | (78,062) |  |  | (43,090)
﻿Interest expense, net |  |  | (7,536) |  |  | (6,411) |  |  | (20,139) |  |  | (19,162)
﻿Consolidated earnings before income taxes |  | $ | 54,417 |  | $ | 68,687 |  | $ | 140,551 |  | $ | 165,982
| (1) |  | Nonsegment expenses for the nine-months ended June 30, 2018 includes restructuring charges of $17,013. See Note 15, Accrued liabilities for further details.
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: ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿
﻿ |  |  |  |  |  |
﻿ |  |  |  |  |  |
﻿ |  | June 30, 2018 |  | September 30, 2017
﻿Segment assets: |  |  |  |  |  |
﻿Aerospace |  | $ | 1,744,825 |  | $ | 1,722,789
﻿Industrial |  |  | 1,677,724 |  |  | 695,264
﻿Unallocated corporate property, plant and equipment, net |  |  | 126,537 |  |  | 104,755
﻿Other unallocated assets |  |  | 254,978 |  |  | 234,301
﻿Consolidated total assets |  | $ | 3,804,064 |  | $ | 2,757,109
﻿ ﻿

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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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