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Segment Information | 9 Months Ended
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Jun. 30, 2024
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, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Segment external net sales: |  |  |  |  |  |  |  |  |  |  |  |
Aerospace |  | $ | 517,560 |  |  | $ | 480,531 |  |  | $ | 1,475,828 |  |  | $ | 1,313,233 |
Industrial |  |  | 330,128 |  |  |  | 320,132 |  |  |  | 993,933 |  |  |  | 824,263 |
Total consolidated net sales |  | $ | 847,688 |  |  | $ | 800,663 |  |  | $ | 2,469,761 |  |  | $ | 2,137,496 |
Segment earnings: |  |  |  |  |  |  |  |  |  |  |  |
Aerospace |  | $ | 101,842 |  |  | $ | 83,075 |  |  | $ | 279,295 |  |  | $ | 211,823 |
Industrial |  |  | 59,717 |  |  |  | 58,197 |  |  |  | 191,842 |  |  |  | 107,170 |
Nonsegment expenses |  |  | (29,675 | ) |  |  | (23,875 | ) |  |  | (88,709 | ) |  |  | (106,493 | )
Interest expense, net |  |  | (9,788 | ) |  |  | (11,659 | ) |  |  | (29,988 | ) |  |  | (34,772 | )
Consolidated earnings before income taxes |  | $ | 122,096 |  |  | $ | 105,738 |  |  | $ | 352,440 |  |  | $ | 177,728 |
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, 2024 |  |  | September 30, 2023 |
Segment assets: |  |  |  |  |  |
Aerospace |  | $ | 1,913,483 |  |  | $ | 1,829,410 |
Industrial |  |  | 1,487,143 |  |  |  | 1,490,341 |
Unallocated corporate property, plant, and equipment, net |  |  | 119,330 |  |  |  | 104,962 |
Other unallocated assets |  |  | 800,353 |  |  |  | 585,490 |
Consolidated total assets |  | $ | 4,320,309 |  |  | $ | 4,010,203 |

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- Definition The entire disclosure for reporting segments including data and tables. 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