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Leases (Tables) | 12 Months Ended
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Sep. 30, 2021
Leases [Abstract] |
Lease-Related Assets and Liabilities | Lease-related assets and liabilities follows:
|  | Classification on Consolidated Balance Sheets |  | September 30, 2021 |  |  | September 30, 2020 |
Assets: |  |  |  |  |  |  |  |  |  |
Operating lease assets |  | Other assets |  | $ | 19,370 |  |  | $ | 18,918 |
Finance lease assets |  | Property, plant and equipment, net |  |  | 781 |  |  |  | 1,201 |
Total lease assets |  |  |  |  | 20,151 |  |  |  | 20,119 |
Current liabilities: |  |  |  |  |  |  |  |  |  |
Operating lease liabilities |  | Accrued liabilities |  |  | 5,260 |  |  |  | 4,925 |
Finance lease liabilities |  | Current portion of long-term debt |  |  | 728 |  |  |  | 1,634 |
Noncurrent liabilities: |  |  |  |  |  |  |  |  |  |
Operating lease liabilities |  | Other liabilities |  |  | 14,770 |  |  |  | 14,569 |
Finance lease liabilities |  | Long-term debt, less current portion |  |  | 475 |  |  |  | 1,173 |
Total lease liabilities |  |  |  | $ | 21,233 |  |  | $ | 22,301 |
Supplemental Lease-Related Information | Supplemental lease-related information follows:
|  | September 30, 2021 |  |  | September 30, 2020 |
Weighted average remaining lease term |  |  |  |  |  |  |  |
Operating leases |  | 4.3 years |  |  | 5.5 years |
Finance leases |  | 1.7 years |  |  | 2.1 years |
Weighted average discount rate |  |  |  |  |  |  |  |
Operating leases |  |  | 3.2 | % |  |  | 3.2 | %
Finance leases |  |  | 2.8 | % |  |  | 3.0 | %
Lease-Related Expenses | Lease-related expenses were as follows:
|  | Year Ended September 30, |
|  | 2021 |  |  | 2020 |
Operating lease expense |  | $ | 6,559 |  |  | $ | 6,164 |
Amortization of financing lease assets |  |  | 425 |  |  |  | 476 |
Interest on financing lease liabilities |  |  | 58 |  |  |  | 87 |
Variable lease expense |  |  | 1,495 |  |  |  | 1,101 |
Short-term lease expense |  |  | 283 |  |  |  | 466 |
Sublease income1 |  |  | (680 | ) |  |  | (697 | )
Total lease expense |  | $ | 8,140 |  |  | $ | 7,597 |
| (1) | Relates to two separate subleases Woodward has entered into for a leased manufacturing building in Niles, Illinois.
Lease-Related Supplemental Cash Flow Information | Lease-related supplemental cash flow information was as follows:
|  | Year Ended September 30, |
|  | 2021 |  |  | 2020 |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |  |
Operating cash flows for operating leases |  | $ | 5,707 |  |  | $ | 5,622 |
Operating cash flows for finance leases |  |  | 58 |  |  |  | 87 |
Financing cash flows for finance leases |  |  | 1,639 |  |  |  | 1,590 |
Right-of-use assets obtained in exchange for recorded lease obligations: |  |  |  |  |  |  |  |
Operating leases |  |  | 6,871 |  |  |  | 6,501 |
Finance leases |  |  | 35 |  |  |  | 1,244 |
Maturities of Lease Liabilities | Maturities of lease liabilities were as follows:
Year Ending September 30: |  | Operating Leases |  |  | Finance Leases |
2022 |  | $ | 5,759 |  |  | $ | 747 |
2023 |  |  | 4,470 |  |  |  | 334 |
2024 |  |  | 3,716 |  |  |  | 143 |
2025 |  |  | 3,048 |  |  |  | 5 |
2026 |  |  | 2,356 |  |  |  | 3 |
Thereafter |  |  | 2,155 |  |  |  | — |
Total lease payments |  |  | 21,504 |  |  |  | 1,232 |
Less: imputed interest |  |  | (1,474 | ) |  |  | (29 | )
Total lease obligations |  | $ | 20,030 |  |  | $ | 1,203 |
Property, Plant and Equipment Leased to Others through Embedded Leasing Arrangements | The carrying amount of property, plant and equipment leased to others through embedded leasing arrangements, included in “Property, plant and equipment, net” at the Consolidated Balance Sheets, follows:
|  | September 30, 2021 |  |  | September 30, 2020 |
Property, plant and equipment leased to others through embedded leasing arrangements |  | $ | 93,732 |  |  | $ | 76,655 |
Less accumulated depreciation |  |  | (35,733 | ) |  |  | (29,819 | )
Property, plant and equipment leased to others through embedded leasing arrangements, net |  | $ | 57,999 |  |  | $ | 46,836 |

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=123408670&loc=SL77918686-209980 + Details
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