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Accrued Liabilities (Tables)
 9 Months Ended
Jun. 30, 2017
Accrued Liabilities





 

 

 

 

 



 

 

 

 

 



June 30,

 

September 30,



2017

 

2016

Salaries and other member benefits

$

 72,709 

 

$

 87,197 

Warranties

 

 14,298 

 

 

 15,993 

Interest payable

 

 5,264 

 

 

 9,071 

Current portion of acquired performance obligations and unfavorable contracts (1)

 

 1,393 

 

 

 2,910 

Accrued retirement benefits

 

 2,505 

 

 

 2,505 

Current portion of loss reserve on contractual lease commitments

 

 1,840 

 

 

 1,840 

Current portion of deferred income from JV formation (Note 4)

 

 6,252 

 

 

 6,552 

Deferred revenues

 

 5,120 

 

 

 5,779 

Taxes, other than income

 

 10,100 

 

 

 14,580 

Other 

 

 10,789 

 

 

 10,200 



$

 130,270 

 

$

 156,627 



(1)

In connection with Woodward’s acquisition of GE Aviation Systems LLC’s (the “Seller”) thrust reverser actuation systems business located in Duarte, California (the “Duarte Acquisition”) in fiscal year 2013, Woodward assumed current and long-term performance obligations for contractual commitments that are expected to result in future economic losses.  In addition, Woodward assumed current and long-term performance obligations for services to be provided to the Seller and others, partially offset by current and long-term assets related to contractual payments due from the Seller.  The current portion of both obligations is included in Accrued liabilities.
Warranties



 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 



Three-Months Ended June 30,

 

Nine-Months Ended June 30,



 

2017

 

 

2016

 

 

2017

 

 

2016

Warranties, beginning of period

$

 15,041 

 

$

 15,553 

 

$

 15,993 

 

$

 13,741 

Expense, net of recoveries

 

 2,746 

 

 

 951 

 

 

 6,808 

 

 

 7,362 

Reductions for settling warranties

 

 (3,746)

 

 

 (1,272)

 

 

 (8,528)

 

 

 (6,015)

Foreign currency exchange rate changes 

 

 257 

 

 

 (49)

 

 

 25 

 

 

 95 

Warranties, end of period

$

 14,298 

 

$

 15,183 

 

$

 14,298 

 

$

 15,183 



Loss Reserve On Contractual Lease Commitments [Member]  
Loss Reserve Activity



 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 



Three-Months Ended June 30,

 

Nine-Months Ended June 30,



 

2017

 

 

2016

 

 

2017

 

 

2016

Loss reserve on contractual lease commitments, beginning of period

$

 8,395 

 

$

 9,772 

 

$

 9,242 

 

$

 2,464 

Additions

 

 -

 

 

 -

 

 

 -

 

 

 8,165 

Payments

 

 (382)

 

 

 (168)

 

 

 (1,229)

 

 

 (1,025)

Non-cash adjustments

 

 (2,322)

 

 

 -

 

 

 (2,322)

 

 

 -

Loss reserve on contractual lease commitments, end of period

$

 5,691 

 

$

 9,604 

 

$

 5,691 

 

$

 9,604