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Intangible Assets, Net
 9 Months Ended
Jun. 30, 2022
Intangible Assets Net Excluding Goodwill [Abstract]  
Intangible Assets, Net

Note 13.  Intangible assets, net

 

 

 

June 30, 2022

 

 

September 30, 2021

 

 

 

Gross

Carrying

Value

 

 

Accumulated

Amortization

 

 

Net

Carrying

Amount

 

 

Gross

Carrying

Value

 

 

Accumulated

Amortization

 

 

Net

Carrying

Amount

 

Intangible assets with finite lives:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Customer relationships and contracts:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Aerospace

 

$

281,683

 

 

$

(220,270

)

 

$

61,413

 

 

$

281,683

 

 

$

(210,380

)

 

$

71,303

 

Industrial

 

 

366,005

 

 

 

(65,751

)

 

 

300,254

 

 

 

404,179

 

 

 

(56,515

)

 

 

347,664

 

Total

 

$

647,688

 

 

$

(286,021

)

 

$

361,667

 

 

$

685,862

 

 

$

(266,895

)

 

$

418,967

 

Intellectual property:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Aerospace

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Industrial

 

 

12,414

 

 

 

(12,414

)

 

 

—

 

 

 

15,806

 

 

 

(15,806

)

 

 

—

 

Total

 

$

12,414

 

 

$

(12,414

)

 

$

—

 

 

$

15,806

 

 

$

(15,806

)

 

$

—

 

Process technology:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Aerospace

 

$

76,370

 

 

$

(68,899

)

 

$

7,471

 

 

$

76,370

 

 

$

(67,177

)

 

$

9,193

 

Industrial

 

 

82,627

 

 

 

(27,453

)

 

 

55,174

 

 

 

90,008

 

 

 

(26,124

)

 

 

63,884

 

Total

 

$

158,997

 

 

$

(96,352

)

 

$

62,645

 

 

$

166,378

 

 

$

(93,301

)

 

$

73,077

 

Intangible asset with indefinite life:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tradename:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Aerospace

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Industrial

 

 

60,555

 

 

 

—

 

 

 

60,555

 

 

 

67,245

 

 

 

—

 

 

 

67,245

 

Total

 

$

60,555

 

 

$

—

 

 

$

60,555

 

 

$

67,245

 

 

$

—

 

 

$

67,245

 

Total intangibles:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Aerospace

 

$

358,053

 

 

$

(289,169

)

 

$

68,884

 

 

$

358,053

 

 

$

(277,557

)

 

$

80,496

 

Industrial

 

 

521,601

 

 

 

(105,618

)

 

 

415,983

 

 

 

577,238

 

 

 

(98,445

)

 

 

478,793

 

Consolidated Total

 

$

879,654

 

 

$

(394,787

)

 

$

484,867

 

 

$

935,291

 

 

$

(376,002

)

 

$

559,289

 

 

Woodward tests the indefinite lived tradename intangible asset for impairment during the fourth quarter of each fiscal year, or at any time there is an indication the indefinite lived tradename intangible asset is more-likely-than-not impaired (commonly referred to as a triggering event).  Woodward’s impairment test for the indefinite lived tradename intangible asset in the fourth quarter of fiscal year 2021 resulted in no impairment.  

For the three and nine-months ended June 30, 2022 and 2021, Woodward recorded amortization expense associated with intangibles of the following:

 

 

 

Three-Months Ended June 30,

 

 

Nine-Months Ended June 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Amortization expense

 

$

9,309

 

 

$

10,526

 

 

$

28,584

 

 

$

31,555

 

 

Future amortization expense associated with intangibles is expected to be:

 

Year Ending September 30:

 

 

 

 

2022 (remaining)

 

$

9,208

 

2023

 

 

36,020

 

2024

 

 

32,269

 

2025

 

 

27,054

 

2026

 

 

27,044

 

Thereafter

 

 

292,717

 

 

 

$

424,312