Leases (Tables)

6 Months Ended

Mar. 31, 2020

Leases [Abstract]

Lease-Related Assets and Liabilities

	Classification on the Condensed Consolidated Balance Sheets	March 31, 2020
Assets:
Operating lease assets	Other assets	$	20,507
Finance lease assets	Property, plant and equipment, net		1,467
Total lease assets			21,974
Current liabilities:
Operating lease liabilities	Accrued liabilities		4,757
Finance lease liabilities	Current portion of long-term debt		1,643
Noncurrent liabilities:
Operating lease liabilities	Other liabilities		15,706
Finance lease liabilities	Long-term debt, less current portion		1,974
Total lease liabilities		$	24,080

Supplemental Lease-Related Information

	March 31, 2020
Weighted average remaining lease term
Operating leases		6.1	years
Finance leases		2.5	years
Weighted average discount rate
Operating leases		3.4	%
Finance leases		3.0	%

Lease-Related Expenses

	Three-Months Ended		Six-Months Ended
	March 31, 2020		March 31, 2020
Operating lease expense	$	1,532	$	3,051
Amortization of financing lease assets		101		248
Interest on financing lease liabilities		20		40
Variable lease expense		288		595
Short-term lease expense		162		337
Sublease income1		(200)		(325)
Total lease expense	$	1,903	$	3,946

1)Relates to two separate subleases Woodward has entered into for a leased manufacturing building in Niles, Illinois.

Lease-Related Supplemental Cash Flow Information

	Six-Months Ended
	March 31, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	2,701
Operating cash flows for finance leases		40
Financing cash flows for finance leases		787
Right-of-use assets obtained in exchange for recorded lease obligations:
Operating leases		5,345
Finance leases		1,244

Maturities of Lease Liabilities

Year Ending September 30:	Operating Leases		Finance Leases
2020 (remaining)		2,509		853
2021		5,078		1,687
2022		3,904		738
2023		3,084		325
2024		2,397		137
Thereafter		6,184		-
Total lease payments		23,156		3,740
Less: imputed interest		(2,693)		(123)
Total lease obligations	$	20,463	$	3,617

Future Minimum Lease Payments

Year Ending September 30:	Operating Leases		Finance Leases
2020 (full twelve months)	$	6,667	$	213
2021		5,119		98
2022		3,823		33
2023		2,899		3
2024		2,378		-
Thereafter		6,033		-
Total minimum lease payments under ASC 840	$	26,919	$	347

Property, Plant and Equipment Leased to Others through Embedded Leasing Arrangements

	March 31, 2020
Property, plant and equipment leased to others through embedded leasing arrangements	$	67,941
Less accumulated depreciation		(25,454)
Property, plant and equipment leased to others through embedded leasing arrangements, net	$	42,487