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Revenue (Tables) | 9 Months Ended
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Jun. 30, 2024
Revenue from Contract with Customer [Abstract] |
Schedule of Revenue Recognition Time | The amount of revenue recognized as point in time or over time follows:
|  | Three Months Ended June 30, 2024 |  |  | Three Months Ended June 30, 2023 |
|  | Aerospace |  |  | Industrial |  |  | Consolidated |  |  | Aerospace |  |  | Industrial |  |  | Consolidated |
Point in time |  | $ | 219,318 |  |  | $ | 206,746 |  |  | $ | 426,064 |  |  | $ | 194,807 |  |  | $ | 208,597 |  |  | $ | 403,404 |
Over time |  |  | 298,242 |  |  |  | 123,382 |  |  |  | 421,624 |  |  |  | 285,724 |  |  |  | 111,535 |  |  |  | 397,259 |
Total net sales |  | $ | 517,560 |  |  | $ | 330,128 |  |  | $ | 847,688 |  |  | $ | 480,531 |  |  | $ | 320,132 |  |  | $ | 800,663 |
|  | Nine Months Ended June 30, 2024 |  |  | Nine Months Ended June 30, 2023 |
|  | Aerospace |  |  | Industrial |  |  | Consolidated |  |  | Aerospace |  |  | Industrial |  |  | Consolidated |
Point in time |  | $ | 636,992 |  |  | $ | 596,608 |  |  | $ | 1,233,600 |  |  | $ | 552,895 |  |  | $ | 526,096 |  |  | $ | 1,078,991 |
Over time |  |  | 838,836 |  |  |  | 397,325 |  |  |  | 1,236,161 |  |  |  | 760,338 |  |  |  | 298,167 |  |  |  | 1,058,505 |
Total net sales |  | $ | 1,475,828 |  |  | $ | 993,933 |  |  | $ | 2,469,761 |  |  | $ | 1,313,233 |  |  | $ | 824,263 |  |  | $ | 2,137,496 |
Schedule of Accounts Receivable | Accounts receivable consisted of the following:
|  | June 30, 2024 |  |  | September 30, 2023 |
Billed receivables |  |  |  |  |  |
Trade accounts receivable |  | $ | 441,007 |  |  | $ | 434,287 |
Other (Chinese financial institutions) |  |  | 957 |  |  |  | 50,940 |
Total billed receivables |  |  | 441,964 |  |  |  | 485,227 |
Current unbilled receivables (contract assets) |  |  | 325,007 |  |  |  | 270,479 |
Total accounts receivable |  |  | 766,971 |  |  |  | 755,706 |
Less: Allowance for uncollectible amounts |  |  | (6,961 | ) |  |  | (5,847 | )
Total accounts receivable, net |  | $ | 760,010 |  |  | $ | 749,859 |
Schedule of Uncollectible Amounts And Change in Expected Allowance for Credit Losses for Trade Accounts Receivable and Unbilled Receivables | The allowance for uncollectible amounts and change in expected credit losses for trade accounts receivable and unbilled receivables (contract assets) consisted of the following:
|  | Three Months Ended June 30, |  |  | Nine Months Ended June 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Balance, beginning |  | $ | 7,126 |  |  | $ | 9,949 |  |  | $ | 5,847 |  |  | $ | 3,922 |
Changes in estimates |  |  | 835 |  |  |  | 77 |  |  |  | 2,531 |  |  |  | 6,463 |
Write-offs |  |  | (13 | ) |  |  | (1,271 | ) |  |  | (488 | ) |  |  | (1,601 | )
Other 1 |  |  | (987 | ) |  |  | (55 | ) |  |  | (929 | ) |  |  | (84 | )
Balance, ending |  | $ | 6,961 |  |  | $ | 8,700 |  |  | $ | 6,961 |  |  | $ | 8,700 |
(1) Includes effects of foreign exchange rate changes during the period.
Schedule of Contract Liability | Contract liabilities consisted of the following:
|  | June 30, 2024 |  |  | September 30, 2023 |
|  | Current |  |  | Noncurrent |  |  | Current |  |  | Noncurrent |
Deferred revenue from material rights from GE joint venture formation |  | $ | 6,472 |  |  | $ | 234,159 |  |  | $ | 6,147 |  |  | $ | 233,997 |
Deferred revenue from advanced invoicing and/or prepayments from customers |  |  | 18,454 |  |  |  | 3,258 |  |  |  | 6,868 |  |  |  | 2,196 |
Liability related to customer supplied inventory |  |  | 19,198 |  |  |  | — |  |  |  | 14,543 |  |  |  | — |
Deferred revenue from material rights related to engineering and development funding |  |  | 5,541 |  |  |  | 182,911 |  |  |  | 6,190 |  |  |  | 178,464 |
Net contract liabilities |  | $ | 49,665 |  |  | $ | 420,328 |  |  | $ | 33,748 |  |  | $ | 414,657 |
Schedule of Disaggregation of Revenue | Revenue by primary market for the Aerospace reportable segment was as follows:
|  | Three Months Ended June 30, |  |  | Nine Months Ended June 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Commercial OEM |  | $ | 189,697 |  |  | $ | 186,173 |  |  | $ | 544,568 |  |  | $ | 484,319 |
Commercial aftermarket |  |  | 165,718 |  |  |  | 139,518 |  |  |  | 467,148 |  |  |  | 405,606 |
Defense OEM |  |  | 96,557 |  |  |  | 101,008 |  |  |  | 280,999 |  |  |  | 278,577 |
Defense aftermarket |  |  | 65,588 |  |  |  | 53,832 |  |  |  | 183,113 |  |  |  | 144,731 |
Total Aerospace segment net sales |  | $ | 517,560 |  |  | $ | 480,531 |  |  | $ | 1,475,828 |  |  | $ | 1,313,233 |
Revenue by primary market for the Industrial reportable segment was as follows:
|  | Three Months Ended June 30, |  |  | Nine Months Ended June 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Power generation |  | $ | 109,583 |  |  | $ | 101,387 |  |  | $ | 314,500 |  |  | $ | 276,977 |
Transportation |  |  | 163,310 |  |  |  | 158,039 |  |  |  | 511,565 |  |  |  | 365,731 |
Oil and gas |  |  | 57,235 |  |  |  | 60,706 |  |  |  | 167,868 |  |  |  | 181,555 |
Total Industrial segment net sales |  | $ | 330,128 |  |  | $ | 320,132 |  |  | $ | 993,933 |  |  | $ | 824,263 |
The customers who each account for approximately 10% or more of net sales of each of Woodward’s reportable segments are as follows:
|  | Three Months Ended June 30, 2024 |  | Three Months Ended June 30, 2023
Aerospace |  | RTX Corporation, GE Aerospace, The Boeing Company |  | RTX Corporation, General Electric Company, The Boeing Company
Industrial |  | Weichai Westport, Rolls-Royce PLC, GE Vernova, Inc. |  | Weichai Westport, Rolls-Royce PLC, Caterpillar, Inc.
|  | Nine Months Ended June 30, 2024 |  | Nine Months Ended June 30, 2023
Aerospace |  | RTX Corporation, The Boeing Company, General Electric Company |  | RTX Corporation, General Electric Company, The Boeing Company
Industrial |  | Weichai Westport, Rolls-Royce PLC |  | Rolls-Royce PLC, Caterpillar, Inc.

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