Intangible Assets, Net

9 Months Ended

Jun. 30, 2017

Intangible Assets, Net

Intangible Assets, Net

Note 12.  Intangible assets, net

	June 30, 2017						September 30, 2016
	Gross Carrying Value		Accumulated Amortization		Net Carrying Amount		Gross Carrying Value		Accumulated Amortization		Net Carrying Amount
Customer relationships and contracts:
Aerospace	$	282,225	$	(146,905)	$	135,320	$	282,225	$	(134,158)	$	148,067
Industrial		41,003		(34,214)		6,789		40,969		(33,509)		7,460
Total	$	323,228	$	(181,119)	$	142,109	$	323,194	$	(167,667)	$	155,527
Intellectual property:
Aerospace	$	-	$	-	$	-	$	-	$	-	$	-
Industrial		19,344		(18,047)		1,297		19,435		(17,876)		1,559
Total	$	19,344	$	(18,047)	$	1,297	$	19,435	$	(17,876)	$	1,559
Process technology:
Aerospace	$	76,605	$	(47,651)	$	28,954	$	76,605	$	(43,229)	$	33,376
Industrial		23,043		(17,433)		5,610		22,965		(16,200)		6,765
Total	$	99,648	$	(65,084)	$	34,564	$	99,570	$	(59,429)	$	40,141
Other intangibles:
Aerospace	$	-	$	-	$	-	$	-	$	-	$	-
Industrial		1,270		(903)		367		1,246		(823)		423
Total	$	1,270	$	(903)	$	367	$	1,246	$	(823)	$	423
Total intangibles:
Aerospace	$	358,830	$	(194,556)	$	164,274	$	358,830	$	(177,387)	$	181,443
Industrial		84,660		(70,597)		14,063		84,615		(68,408)		16,207
Consolidated Total	$	443,490	$	(265,153)	$	178,337	$	443,445	$	(245,795)	$	197,650

For the three and nine-months ended June 30, 2017 and 2016, Woodward recorded amortization expense associated with intangibles of the following:

	Three-Months Ended				Nine-Months Ended
	June 30,				June 30,
	2017		2016		2017		2016
Amortization expense	$	6,439	$	6,887	$	19,328	$	20,759

Future amortization expense associated with intangibles is expected to be:

Year Ending September 30:
2017 (remaining)	$	6,450
2018		25,002
2019		23,166
2020		20,367
2021		18,401
Thereafter		84,951
	$	178,337