Leases (Tables)

9 Months Ended

Jun. 30, 2021

Leases [Abstract]

Lease-Related Assets and Liabilities

Lease-related assets and liabilities follows:

	Classification on the Condensed Consolidated Balance Sheets	June 30, 2021		September 30, 2020
Assets:
Operating lease assets	Other assets	$	21,220	$	18,918
Finance lease assets	Property, plant and equipment, net		886		1,201
Total lease assets			22,106		20,119
Current liabilities:
Operating lease liabilities	Accrued liabilities		5,571		4,925
Finance lease liabilities	Current portion of long-term debt		1,050		1,634
Noncurrent liabilities:
Operating lease liabilities	Other liabilities		16,342		14,569
Finance lease liabilities	Long-term debt, less current portion		556		1,173
Total lease liabilities		$	23,519	$	22,301

Lease-Related Expenses

Lease-related expenses were as follows:

	Three-Months Ended June 30,						Nine-Months Ended June 30,
	2021			2020			2021			2020
Operating lease expense	$	1,729		$	1,511		$	4,897		$	4,562
Amortization of finance lease assets		102			110			322			358
Interest on finance lease liabilities		13			25			48			65
Variable lease expense		282			192			1,100			787
Short-term lease expense		75			63			233			400
Sublease income1		(104	)		(236	)		(486	)		(561	)
Total lease expense	$	2,097		$	1,665		$	6,114		$	5,611

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

Lease-Related Supplemental Cash Flow Information

Lease-related supplemental cash flow information was as follows:

	Nine-Months Ended June 30,
	2021		2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	4,229	$	3,622
Operating cash flows for finance leases		48		65
Financing cash flows for finance leases		1,236		1,187
Right-of-use assets obtained in exchange for recorded lease obligations:
Operating leases		6,759		4,825
Finance leases		35		1,243

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

The carrying amount of property, plant and equipment leased to others through embedded leasing arrangements, included in “Property, plant and equipment, net” on the Condensed Consolidated Balance Sheets, follows:

	June 30, 2021			September 30, 2020
Property, plant and equipment leased to others through embedded leasing arrangements	$	77,859		$	76,655
Less accumulated depreciation		(34,327	)		(29,819	)
Property, plant and equipment leased to others through embedded leasing arrangements, net	$	43,532		$	46,836