Intangible Assets, Net

6 Months Ended

Mar. 31, 2020

Intangible Assets, Net [Abstract]

Intangible Assets, Net

Note 14. Intangible assets, net

	March 31, 2020						September 30, 2019
	Gross Carrying Value		Accumulated Amortization		Net Carrying Amount		Gross Carrying Value		Accumulated Amortization		Net Carrying Amount
Intangible assets with finite lives:
Customer relationships and contracts:
Aerospace	$	281,683	$	(189,258)	$	92,425	$	281,683	$	(181,995)	$	99,688
Industrial		406,087		(47,589)		358,498		407,683		(43,986)		363,697
Total	$	687,770	$	(236,847)	$	450,923	$	689,366	$	(225,981)	$	463,385
Intellectual property:
Aerospace	$	-	$	-	$	-	$	-	$	-	$	-
Industrial		15,703		(15,513)		190		19,201		(18,705)		496
Total	$	15,703	$	(15,513)	$	190	$	19,201	$	(18,705)	$	496
Process technology:
Aerospace	$	76,371	$	(61,933)	$	14,438	$	76,371	$	(59,913)	$	16,458
Industrial		86,537		(19,996)		66,541		92,820		(24,926)		67,894
Total	$	162,908	$	(81,929)	$	80,979	$	169,191	$	(84,839)	$	84,352
Backlog:
Aerospace	$	-	$	-	$	-	$	-	$	-	$	-
Industrial		40,860		(40,860)		-		40,500		(40,500)		-
Total	$	40,860	$	(40,860)	$	-	$	40,500	$	(40,500)	$	-
Other intangibles:
Aerospace	$	-	$	-	$	-	$	-	$	-	$	-
Industrial		205		(141)		64		1,541		(1,249)		292
Total	$	205	$	(141)	$	64	$	1,541	$	(1,249)	$	292
Intangible asset with indefinite life:
Tradename:
Aerospace	$	-	$	-	$	-	$	-	$	-	$	-
Industrial		64,034		-		64,034		63,467		-		63,467
Total	$	64,034	$	-	$	64,034	$	63,467	$	-	$	63,467
Total intangibles:
Aerospace	$	358,054	$	(251,191)	$	106,863	$	358,054	$	(241,908)	$	116,146
Industrial		613,426		(124,099)		489,327		625,212		(129,366)		495,846
Consolidated Total	$	971,480	$	(375,290)	$	596,190	$	983,266	$	(371,274)	$	611,992

Woodward tests the indefinite lived tradename intangible asset for impairment during the fourth quarter of each fiscal year, or at any time there is an indication the indefinite lived tradename intangible asset is more-likely-than-not impaired, commonly referred to as triggering events.

In the first quarter of fiscal year 2020, Woodward determined that the approved plan to divest of the disposal groups (see Note 10, Impairment of assets held for sale) represented a triggering event requiring the long-lived assets attributable to the disposal groups be assessed for impairment. Given the current facts and circumstances, Woodward determined that the remaining value of the intangible assets of the disposal groups was not recoverable and a $392 non-cash impairment charge was recorded for the six-months ended March 31, 2020.

For the three and six-months ended March 31, 2020 and 2019, Woodward recorded amortization expense associated with intangibles of the following:

	Three-Months Ended				Six-Months Ended
	March 31,				March 31,
	2020		2019		2020		2019
Amortization expense	$	9,848	$	16,693	$	19,753	$	34,165

Future amortization expense associated with intangibles is expected to be:

Year Ending September 30:
2020 (remaining)	$	19,284
2021		40,133
2022		38,025
2023		36,974
2024		33,197
Thereafter		364,543
	$	532,156