Segment Information

3 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Segment Information

Note 22.  Segment information

Woodward serves the aerospace and industrial markets through its two reportable segments – Aerospace and Industrial.  When appropriate, Woodward’s reportable segments are aggregations of Woodward’s operating segments.  Woodward uses operating segment information internally to manage its business, including the assessment of operating segment performance and decisions for the allocation of resources between operating segments.  

The accounting policies of the reportable segments are the same as those of the Company.  Woodward evaluates segment profit or loss based on internal performance measures for each segment in a given period.  In connection with that assessment, Woodward generally excludes matters such as certain charges for restructuring, interest income and expense, certain gains and losses from asset dispositions, or other non-recurring and/or non-operationally related expenses.  

A summary of consolidated net sales and earnings by segment follows:

	Three-Months Ended December 31,
	2021			2020
Segment external net sales:
Aerospace	$	336,435		$	321,667
Industrial		205,151			215,952
Total consolidated net sales	$	541,586		$	537,619
Segment earnings:
Aerospace	$	51,083		$	46,466
Industrial		23,693			32,888
Nonsegment expenses		(29,365	)		(23,359	)
Interest expense, net		(7,665	)		(8,411	)
Consolidated earnings before income taxes	$	37,746		$	47,584

Segment assets consist of accounts receivable; inventories; property, plant, and equipment, net; goodwill; and other intangibles, net.  A summary of consolidated total assets by segment follows:

	December 31, 2021		September 30, 2021
Segment assets:
Aerospace	$	1,680,730	$	1,698,833
Industrial		1,445,786		1,453,423
Unallocated corporate property, plant and equipment, net		104,813		106,014
Other unallocated assets		803,911		832,734
Consolidated total assets	$	4,035,240	$	4,091,004