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Joint Venture (Tables)
12 Months Ended
Sep. 30, 2025
Equity Method Investments and Joint Ventures [Abstract]  
Unamortized Deferred Revenue from JV

Unamortized deferred revenue from material rights in connection with the JV formation included:

 

 

September 30, 2025

 

 

September 30, 2024

 

Accrued liabilities

 

$

7,298

 

 

$

6,580

 

Other liabilities

 

 

229,878

 

 

 

232,164

 

Other Income Related JV

Other income related to Woodward’s equity interest in the earnings of the JV were as follows:

 

 

For the Year Ended September 30,

 

 

 

2025

 

 

2024

 

 

2023

 

Other income

 

$

45,850

 

 

$

41,191

 

 

$

36,846

 

Cash Distribution from JV

Cash distributions to Woodward from the JV, recognized in "Other, net" in Net cash provided by operating activities on the Consolidated Statements of Cash Flows, were as follows:

 

 

Year Ended September 30,

 

 

 

2025

 

 

2024

 

 

2023

 

Cash distributions

 

$

42,000

 

 

$

38,000

 

 

$

29,000

 

Net Sales to the JV

Net sales to the JV were as follows:

 

 

For the Year Ended September 30,

 

 

 

2025

 

 

2024

 

 

2023

 

Net sales

 

$

97,576

 

 

$

80,708

 

 

$

47,607

 

 

Woodward net sales include a reduction of $71,030 for the fiscal year ended September 30, 2025, $63,794 for the fiscal year ended September 30, 2024, and $49,624 for the fiscal year ended September 30, 2023 related to royalties owed to the JV by Woodward on sales by Woodward directly to third-party commercial services customers.

Accounts Receivable, Accounts Payable, and Other Assets Related to JV

The Consolidated Balance Sheets include “Accounts receivable” related to amounts the JV owed Woodward, “Accounts payable” related to amounts Woodward owed the JV, and “Other assets” related to Woodward’s net investment in the JV, as follows:

 

 

September 30, 2025

 

 

September 30, 2024

 

Accounts receivable

 

$

5,377

 

 

$

5,205

 

Accounts payable

 

 

8,370

 

 

 

11,378

 

Other assets

 

 

23,069

 

 

 

19,219

 

Contract Liabilities and Costs to Fulfill a Contract Contract liabilities and costs to fulfill a contract were as follows:

 

 

September 30, 2025

 

 

September 30, 2024

 

Contract liabilities

 

$

78,985

 

 

$

78,226

 

Costs to fulfill a contract

 

 

78,985

 

 

 

78,226