XML 39 R30.htm IDEA: XBRL DOCUMENT v3.22.2
Segment Information
 9 Months Ended
Jun. 30, 2022
Segment Reporting [Abstract]  
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.  

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 June 30,

 

 

Nine-Months Ended June 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Segment external net sales:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Aerospace

 

$

401,712

 

 

$

340,912

 

 

$

1,110,904

 

 

$

1,027,285

 

Industrial

 

 

212,620

 

 

 

215,763

 

 

 

631,853

 

 

 

648,330

 

Total consolidated net sales

 

$

614,332

 

 

$

556,675

 

 

$

1,742,757

 

 

$

1,675,615

 

Segment earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Aerospace

 

$

56,566

 

 

$

53,167

 

 

$

167,458

 

 

$

168,641

 

Industrial

 

 

21,102

 

 

 

27,166

 

 

 

62,029

 

 

 

87,925

 

Nonsegment expenses

 

 

(19,201

)

 

 

(13,546

)

 

 

(63,816

)

 

 

(47,331

)

Interest expense, net

 

 

(8,180

)

 

 

(8,089

)

 

 

(23,542

)

 

 

(24,466

)

Consolidated earnings before income taxes

 

$

50,287

 

 

$

58,698

 

 

$

142,129

 

 

$

184,769

 

 

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, 2022

 

 

September 30, 2021

 

Segment assets:

 

 

 

 

 

 

 

 

Aerospace

 

$

1,754,600

 

 

$

1,698,833

 

Industrial

 

 

1,404,383

 

 

 

1,453,423

 

Unallocated corporate property, plant and equipment, net

 

 

109,777

 

 

 

106,014

 

Other unallocated assets

 

 

487,029

 

 

 

832,734

 

Consolidated total assets

 

$

3,755,789

 

 

$

4,091,004