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Segment Information | 6 Months Ended
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Mar. 31, 2020
Segment Information [Abstract] |
Segment Information | Note 23. 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. 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 |  | Six-Months Ended
|  | March 31, |  | March 31,
|  | 2020 |  | 2019 |  | 2020 |  | 2019
Segment external net sales: |  |  |  |  |  |  |  |  |  |  |  |
Aerospace |  | $ | 474,236 |  | $ | 482,954 |  | $ | 948,161 |  | $ | 875,841
Industrial |  |  | 245,984 |  |  | 275,890 |  |  | 492,414 |  |  | 535,814
Total consolidated net sales |  | $ | 720,220 |  | $ | 758,844 |  | $ | 1,440,575 |  | $ | 1,411,655
Segment earnings: |  |  |  |  |  |  |  |  |  |  |  |
Aerospace |  | $ | 117,638 |  | $ | 101,722 |  | $ | 210,549 |  | $ | 174,576
Industrial |  |  | 25,972 |  |  | 27,128 |  |  | 54,202 |  |  | 56,297
Nonsegment expenses |  |  | (28,131) |  |  | (27,496) |  |  | (79,202) |  |  | (56,497)
Interest expense, net |  |  | (8,280) |  |  | (11,186) |  |  | (16,802) |  |  | (22,693)
Consolidated earnings before income taxes |  | $ | 107,199 |  | $ | 90,168 |  | $ | 168,747 |  | $ | 151,683
Segment assets consist of accounts receivable, inventories, property, plant, and equipment, net, goodwill, and other intangibles, net. A summary of consolidated total assets follows:
|  | March 31, 2020 |  | September 30, 2019
Segment assets: |  |  |  |  |  |
Aerospace |  | $ | 1,892,325 |  | $ | 1,900,657
Industrial |  |  | 1,541,137 |  |  | 1,561,441
Unallocated corporate property, plant and equipment, net |  |  | 105,881 |  |  | 114,887
Other unallocated assets |  |  | 520,933 |  |  | 379,541
Consolidated total assets |  | $ | 4,060,276 |  | $ | 3,956,526

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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