XML 32 R25.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

Accrued Liabilities | 6 Months Ended
--- | ---
Mar. 31, 2024
Accrued Liabilities, Current [Abstract] |
Accrued Liabilities | Note 15. Accrued liabilities
|  | March 31, 2024 |  |  | September 30, 2023 |
Salaries and other member benefits |  | $ | 98,019 |  |  | $ | 146,713 |
Product warranties and related liabilities |  |  | 19,800 |  |  |  | 18,162 |
Interest payable |  |  | 12,199 |  |  |  | 13,611 |
Accrued retirement benefits |  |  | 2,844 |  |  |  | 2,822 |
Net current contract liabilities |  |  | 48,821 |  |  |  | 33,748 |
Taxes, other than income |  |  | 18,981 |  |  |  | 13,436 |
Other |  |  | 36,280 |  |  |  | 34,124 |
|  | $ | 236,944 |  |  | $ | 262,616 |
Product warranties and related liabilities Provisions of Woodward’s sales agreements include product warranties customary to these types of agreements. Accruals are established for specifically identified warranty issues and related liabilities for which are probable to result in future costs. Warranty costs are accrued because revenue is recognized on a non-specific basis whenever past experience indicates a normal and predictable pattern exists. Changes in accrued product warranties and related liabilities were as follows:
|  | Three Months Ended March 31, |  |  | Six Months Ended March 31, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Beginning of period |  | $ | 21,802 |  |  | $ | 49,526 |  |  | $ | 18,162 |  |  | $ | 40,042 |
Additions, net of recoveries |  |  | 4,653 |  |  |  | 3,413 |  |  |  | 9,959 |  |  |  | 20,423 |
Reductions for settlement |  |  | (6,579 | ) |  |  | (6,501 | ) |  |  | (8,406 | ) |  |  | (14,203 | )
Foreign currency exchange rate changes |  |  | (76 | ) |  |  | 54 |  |  |  | 85 |  |  |  | 230 |
End of period |  | $ | 19,800 |  |  | $ | 46,492 |  |  | $ | 19,800 |  |  | $ | 46,492 |
Restructuring charges In fiscal year 2022, the Company determined to implement a streamlined Aerospace and Industrial organizational and leadership structure designed to enhance the sales experience for customers, simplify operations, and increase profitability through improved execution. In connection with leadership changes arising from such reorganization, we recorded $1,083 of restructuring charges as nonsegment expenses, which were paid as of December 31, 2022. During the second quarter of fiscal year 2023, the Company committed to a cost reduction plan ("Cost Reduction Plan") to better align the cost structure and recorded $5,172 of restructuring charges. The charges recognized under the Cost Reduction Plan consist of workforce management costs primarily related to aligning the cost structure of the Company's Industrial segment with the current market conditions. All of the restructuring charges were recorded as nonsegment expenses. As of March 31, 2023, $2,836 was paid and the remaining restructuring charges were paid within the next twelve months.

X
- Definition The entire disclosure for accounts payable and accrued liabilities at the end of the reporting period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(a),20,24) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1 + Details
Name: | us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_AccruedLiabilitiesCurrentAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration