Segment Information

3 Months Ended

Dec. 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’s reportable segments are aggregations of Woodward’s operating segments.  Woodward usesreportable 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
	December 31,
	2013		2012
Segment external net sales:
Aerospace	$	229,872	$	211,389
Energy		199,170		196,950
Total consolidated net sales	$	429,042	$	408,339
Segment earnings:
Aerospace	$	22,549	$	31,568
Energy		27,071		23,908
Total segment earnings		49,620		55,476
Nonsegment expenses		(10,673)		(10,551)
Interest expense, net		(6,003)		(6,388)
Consolidated earnings before income taxes	$	32,944	$	38,537

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, 2013		September 30, 2013
Segment assets:
Aerospace	$	1,331,896	$	1,361,861
Energy		586,846		599,007
Total segment assets		1,918,742		1,960,868
Unallocated corporate property, plant and equipment, net		57,824		50,115
Other unallocated assets		223,607		207,535
Consolidated total assets	$	2,200,173	$	2,218,518