WOODWARD, INC. AND SUBSIDIARIES

SCHEDULE II – VALUATION AND QUALIFYING ACCOUNTS

For the years ended September 30, 2015, 2014, and 2013

(in thousands)



Column A	Column B		Column C				Column D		Column E
			Additions
Description	Balance at Beginning of Year		Charged to Costs and Expenses		Charged to Other Accounts (a)		Deductions (b)		Balance at End of Year
Fiscal year 2015
Allowance for doubtful accounts	$	7,078	$	364	$	487	$	(4,088)	$	3,841
Deferred tax asset valuation allowance		9,486		209		-		(2,891)		6,804
Fiscal year 2014
Allowance for doubtful accounts		8,872		1,283		916		(3,993)		7,078
Deferred tax asset valuation allowance		11,783		271		-		(2,568)		9,486
Fiscal year 2013
Allowance for doubtful accounts		7,217		3,408		5		(1,758)		8,872
Deferred tax asset valuation allowance		2,752		9,031		-		-		11,783

Notes:

(a)

Includes recoveries of accounts previously written off.

(b)

Represents accounts receivable written off against the allowance for doubtful accounts and releases of valuation reserves to income tax expense. Also included are foreign currency exchange rate adjustments. Currency translation adjustments resulted in a decrease in the reserves of $934 in fiscal year 2015, a decrease in the reserve of $704 in fiscal year 2014, and an increase in the reserve of $155 in fiscal year 2013.