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REVENUE (Tables) | 12 Months Ended
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Sep. 30, 2019
Revenue from Contract with Customer [Abstract] |
Cumulative Effect For Adoption of New Accounting Pronouncement | The cumulative effect of the changes made to the Company's Consolidated October 1, 2018 Balance Sheet for the adoption of ASC 606 is as follows:
Balance Sheet | As Reported at September 30, 2018 | Adjustments | Balance as of October 1, 2018
CURRENT ASSETS |  |  |  |
Contract costs and recognized income not yet billed, net of progress payments | $ | 121,803 |  | $ | (20,982 | ) | $ | 100,821 |
Inventories | 398,359 |  | 22,025 |  | 420,384 |
Total Current Assets | 912,874 |  | 1,043 |  | 913,917 |
Total Assets | 2,084,890 |  | 1,043 |  | 2,085,933 |
CURRENT LIABILITIES |  |  |  |
Accounts payable | 233,658 |  | 8,282 |  | 241,940 |
Billings in excess of costs (1) | 17,559 |  | 8,282 |  | 25,841 |
Total Current Liabilities | 393,071 |  | 8,282 |  | 401,353 |
OTHER LIABILITIES | 106,710 |  | (1,621 | ) | 105,089 |
Total Liabilities | 1,610,499 |  | 6,661 |  | 1,617,160 |
SHAREHOLDERS' EQUITY |  |  |
Retained Earnings | 550,523 |  | (5,618 | ) | 544,905 |
Total Shareholders' Equity | 474,391 |  | (5,618 | ) | 468,773 |
Total Liabilities and Shareholders’ Equity | $ | 2,084,890 |  | $ | 1,043 |  | $ | 2,085,933 |
(1) Billings in excess of costs is reported in Accounts payable on the Company's Consolidated Balance Sheets. The impact to the Company's Consolidated Statement of Operations for the year ended September 30, 2019 and to the Company's Balance Sheet as of September 30, 2019 was as follows:
| For the Year Ended September 30, 2019
Income Statement | As Reported | Balances Without Adoption of ASC 606 | Effect of Adoption Higher/(Lower)
Net sales | $ | 2,209,289 |  | $ | 2,202,544 |  | $ | 6,745 |
Cost of goods and services | 1,614,020 |  | 1,609,807 |  | 4,213 |
Income before taxes from continuing operations | 72,178 |  | 69,646 |  | 2,532 |
Provision (benefit) from income taxes | 26,556 |  | 26,004 |  | 552 |
Income from continuing operations | 45,622 |  | 43,642 |  | 1,980 |
| As of September 30, 2019
Balance Sheet | As Reported | Balances Without Adoption of ASC 606 | Effect of Adoption Higher/(Lower)
CURRENT ASSETS |  |  |  |
Contract costs and recognized income not yet billed, net of progress payments | $ | 105,111 |  | $ | 119,348 |  | $ | (14,237 | )
Inventories | 442,121 |  | 424,309 |  | 17,812 |
Total Current Assets | 925,179 |  | 921,604 |  | 3,575 |
Total Assets | 2,074,939 |  | 2,071,364 |  | 3,575 |
CURRENT LIABILITIES |  |  |  |
Accounts payable | 250,576 |  | 242,294 |  | 8,282 |
Billings in excess of costs | 26,259 |  | 17,977 |  | 8,282 |
Total Current Liabilities | 390,099 |  | 381,817 |  | 8,282 |
OTHER LIABILITIES | 109,997 |  | 111,066 |  | (1,069 | )
Total Liabilities | 1,597,176 |  | 1,589,963 |  | 7,213 |
SHAREHOLDERS' EQUITY |  |  |
Retained Earnings | 568,516 |  | 572,154 |  | (3,638 | )
Total Shareholders' Equity | 477,763 |  | 481,401 |  | (3,638 | )
Total Liabilities and Shareholders’ Equity | $ | 2,074,939 |  | $ | 2,071,364 |  | $ | 3,575 |

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