XML 36 R21.htm IDEA: XBRL DOCUMENT v3.22.1
Intangible Assets, Net
 6 Months Ended
Mar. 31, 2022
Intangible Assets Net Excluding Goodwill [Abstract]  
Intangible Assets, Net

Note 13.  Intangible assets, net

 

 

 

March 31, 2022

 

 

September 30, 2021

 

 

 

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

 

 

$

(216,973

)

 

$

64,710

 

 

$

281,683

 

 

$

(210,380

)

 

$

71,303

 

Industrial

 

 

389,757

 

 

 

(64,511

)

 

 

325,246

 

 

 

404,179

 

 

 

(56,515

)

 

 

347,664

 

Total

 

$

671,440

 

 

$

(281,484

)

 

$

389,956

 

 

$

685,862

 

 

$

(266,895

)

 

$

418,967

 

Intellectual property:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Aerospace

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Industrial

 

 

12,466

 

 

 

(12,466

)

 

 

—

 

 

 

15,806

 

 

 

(15,806

)

 

 

—

 

Total

 

$

12,466

 

 

$

(12,466

)

 

$

—

 

 

$

15,806

 

 

$

(15,806

)

 

$

—

 

Process technology:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Aerospace

 

$

76,370

 

 

$

(68,324

)

 

$

8,046

 

 

$

76,370

 

 

$

(67,177

)

 

$

9,193

 

Industrial

 

 

87,220

 

 

 

(27,438

)

 

 

59,782

 

 

 

90,008

 

 

 

(26,124

)

 

 

63,884

 

Total

 

$

163,590

 

 

$

(95,762

)

 

$

67,828

 

 

$

166,378

 

 

$

(93,301

)

 

$

73,077

 

Intangible asset with indefinite life:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tradename:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Aerospace

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Industrial

 

 

64,718

 

 

 

—

 

 

 

64,718

 

 

 

67,245

 

 

 

—

 

 

 

67,245

 

Total

 

$

64,718

 

 

$

—

 

 

$

64,718

 

 

$

67,245

 

 

$

—

 

 

$

67,245

 

Total intangibles:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Aerospace

 

$

358,053

 

 

$

(285,297

)

 

$

72,756

 

 

$

358,053

 

 

$

(277,557

)

 

$

80,496

 

Industrial

 

 

554,161

 

 

 

(104,415

)

 

 

449,746

 

 

 

577,238

 

 

 

(98,445

)

 

 

478,793

 

Consolidated Total

 

$

912,214

 

 

$

(389,712

)

 

$

522,502

 

 

$

935,291

 

 

$

(376,002

)

 

$

559,289

 

 

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, such indications commonly referred to as triggering events.  Woodward’s impairment test for the indefinite lived tradename intangible asset in the fourth quarter of fiscal year 2021 resulted in no impairment.  

For the three and six-months ended March 31, 2022 and 2021, Woodward recorded amortization expense associated with intangibles of the following:

 

 

 

Three-Months Ended March 31,

 

 

Six-Months Ended March 31,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Amortization expense

 

$

9,587

 

 

$

10,560

 

 

$

19,275

 

 

$

21,029

 

 

Future amortization expense associated with intangibles is expected to be:

 

Year Ending September 30:

 

 

 

 

2022 (remaining)

 

$

19,109

 

2023

 

 

36,892

 

2024

 

 

33,141

 

2025

 

 

27,926

 

2026

 

 

27,916

 

Thereafter

 

 

312,800

 

 

 

$

457,784