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Segment Information
 9 Months Ended
Jun. 30, 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

 

Nine-Months Ended

 

 

June 30,

 

June 30,

 

 

2013

 

2012

 

2013

 

2012

Segment external net sales:

 

 

 

 

 

 

 

 

 

 

 

 

Aerospace

 

$
272,218 

 

$
214,474 

 

$
754,100 

 

$
632,037 

Energy

 

 
211,541 

 

 
245,767 

 

 
623,511 

 

 
704,893 

Total consolidated net sales

 

$
483,759 

 

$
460,241 

 

$
1,377,611 

 

$
1,336,930 

Segment earnings:

 

 

 

 

 

 

 

 

 

 

 

 

Aerospace

 

$
38,949 

 

$
21,536 

 

$
111,740 

 

$
82,277 

Energy

 

 
12,430 

 

 
31,205 

 

 
60,573 

 

 
92,264 

Total segment earnings

 

 
51,379 

 

 
52,741 

 

 
172,313 

 

 
174,541 

Nonsegment expenses

 

 
(9,227)

 

 
(8,687)

 

 
(27,952)

 

 
(23,623)

Interest expense, net

 

 
(6,655)

 

 
(6,346)

 

 
(19,991)

 

 
(18,996)

Consolidated earnings before income taxes

 

$
35,497 

 

$
37,708 

 

$
124,370 

 

$
131,922 

 

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:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

June 30, 2013

 

September 30, 2012

Segment assets:

 

 

 

 

 

 

Aerospace

 

$
1,297,134 

 

$
1,059,754 

Energy

 

 
578,748 

 

 
605,842 

Total segment assets

 

 
1,875,882 

 

 
1,665,596 

Unallocated corporate property, plant and equipment, net

 

 
42,053 

 

 
15,763 

Other unallocated assets

 

 
203,413 

 

 
178,605 

Consolidated total assets

 

$
2,121,348 

 

$
1,859,964