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Segment Information
 6 Months Ended
Mar. 31, 2013
Segment Information  
Segment Information

Note 20.  Segment information

Woodward serves the aerospace market and the energy market through its two reportable segments - Aerospace and Energy.  Woodward uses reportable segment information internally to manage its business, including the assessment of business segment performance and decisions for the allocation of resources between 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 excludes matters such as charges for restructuring costs, interest income and expense, and certain gains and losses from asset dispositions. 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three-Months Ended

 

Six-Months Ended

 

 

March 31,

 

March 31,

 

 

2013

 

2012

 

2013

 

2012

Segment external net sales:

 

 

 

 

 

 

 

 

 

 

 

 

Aerospace

 

$
270,493 

 

$
224,337 

 

$
481,882 

 

$
417,563 

Energy

 

 
215,020 

 

 
244,456 

 

 
411,970 

 

 
459,126 

Total consolidated net sales

 

$
485,513 

 

$
468,793 

 

$
893,852 

 

$
876,689 

Segment earnings:

 

 

 

 

 

 

 

 

 

 

 

 

Aerospace

 

$
41,223 

 

$
33,681 

 

$
72,791 

 

$
60,741 

Energy

 

 
24,235 

 

 
34,334 

 

 
48,143 

 

 
61,059 

Total segment earnings

 

 
65,458 

 

 
68,015 

 

 
120,934 

 

 
121,800 

Nonsegment expenses

 

 
(8,174)

 

 
(7,509)

 

 
(18,725)

 

 
(14,936)

Interest expense, net

 

 
(6,948)

 

 
(6,468)

 

 
(13,336)

 

 
(12,650)

Consolidated earnings before income taxes

 

$
50,336 

 

$
54,038 

 

$
88,873 

 

$
94,214 

 

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:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

March 31, 2013

 

September 30, 2012

Segment assets:

 

 

 

 

 

 

Aerospace

 

$
1,290,025 

 

$
1,059,754 

Energy

 

 
586,118 

 

 
605,842 

Total segment assets

 

 
1,876,143 

 

 
1,665,596 

Unallocated corporate property, plant and equipment, net

 

 
30,909 

 

 
15,763 

Other unallocated assets

 

 
197,514 

 

 
178,605 

Consolidated total assets

 

$
2,104,566 

 

$
1,859,964