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Revenue (Schedule of Impact of the Adoption ASC 606 on Consolidated Balance Sheet) (Details) - USD ($)
$ in Thousands
Sep. 30, 2019
Oct. 01, 2018
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2016
Current assets:          
Cash and cash equivalents $ 99,073 $ 83,594 $ 83,594 $ 87,552 $ 81,090
Accounts receivable, net 591,529 567,671 [1],[2] 432,003 [1],[2]    
Inventories 516,836 475,990 [1],[2] 549,596 [1],[2]    
Income taxes receivable 8,099 5,150 [3] 6,397 [3]    
Other current assets 55,691 43,053 43,207    
Total current assets 1,271,228 1,175,458 1,114,797    
Property, plant and equipment, net 1,058,775 1,060,005 1,060,005    
Goodwill 797,853 813,250 813,250 556,545  
Intangible assets, net 611,992 698,364 [4] 700,883 [4]    
Deferred income tax assets 18,161 15,385 [3] 16,570 [3]    
Other assets 198,517 171,009 [1],[2],[5] 85,144 [1],[2],[5]    
Total assets 3,956,526 3,933,471 3,790,649 2,757,109  
Current liabilities:          
Short-term borrowings 220,000 153,635 153,635    
Accounts payable 240,460 226,285 226,285    
Income taxes payable 18,849 22,097 [3] 16,745 [3]    
Accrued liabilities 228,127 209,138 [2],[5] 194,513 [2],[5]    
Total current liabilities 707,436 611,155 591,178    
Long-term debt, less current portion 864,899 1,092,397 1,092,397    
Net deferred tax liabilities 151,362 176,430 [3] 170,915 [3]    
Other liabilities 506,088 476,685 [5] 398,055 [5]    
Total liabilities 2,229,785 2,356,667 2,252,545    
Stockholders' equity:          
Preferred stock      
Common stock 106 106 106    
Additional paid-in capital 207,120 185,705 185,705    
Accumulated other comprehensive losses (103,306) (74,987) (74,942)    
Deferred compensation 9,382 8,431 8,431    
Retained earnings 2,224,919 2,005,388 1,966,643    
Stockholders' equity 2,338,221 2,124,643 2,085,943    
Treasury stock at cost (602,098) (539,408) (539,408)    
Treasury stock held for deferred compensation (9,382) (8,431) (8,431)    
Total stockholders' equity 1,726,741 1,576,804 1,538,104 $ 1,371,383 $ 1,212,595
Total liabilities and stockholders' equity 3,956,526 $ 3,933,471 3,790,649    
Adjustments [Member] | ASC 606 [Member]          
Current assets:          
Accounts receivable, net 172,058   135,668 [1],[2]    
Inventories (98,105)   (73,606) [1],[2]    
Income taxes receivable (11,001)   (1,247) [3]    
Other current assets 1,026   (154)    
Total current assets 63,978   60,661    
Intangible assets, net [4]     (2,519)    
Deferred income tax assets (1,288)   (1,185) [3]    
Other assets 107,035   85,865 [1],[2],[5]    
Total assets 169,725   142,822    
Current liabilities:          
Income taxes payable 3,838   5,352 [3]    
Accrued liabilities 18,220   14,625 [2],[5]    
Total current liabilities 22,058   19,977    
Net deferred tax liabilities (2,159)   5,515 [3]    
Other liabilities 105,891   78,630 [5]    
Total liabilities 125,790   104,122    
Stockholders' equity:          
Preferred stock        
Accumulated other comprehensive losses (443)   (45)    
Retained earnings 44,378   38,745    
Stockholders' equity 43,935   38,700    
Total stockholders' equity 43,935   38,700    
Total liabilities and stockholders' equity 169,725   142,822    
Under Previous Standard [Member]          
Current assets:          
Cash and cash equivalents 99,073   $ 83,594    
Accounts receivable, net 419,471        
Inventories 614,941        
Income taxes receivable 19,100        
Other current assets 54,665        
Total current assets 1,207,250        
Property, plant and equipment, net 1,058,775        
Goodwill 797,853        
Intangible assets, net 611,992        
Deferred income tax assets 19,449        
Other assets 91,482        
Total assets 3,786,801        
Current liabilities:          
Short-term borrowings 220,000        
Accounts payable 240,460        
Income taxes payable 15,011        
Accrued liabilities 209,907        
Total current liabilities 685,378        
Long-term debt, less current portion 864,899        
Net deferred tax liabilities 153,521        
Other liabilities 400,197        
Total liabilities 2,103,995        
Stockholders' equity:          
Preferred stock        
Common stock 106        
Additional paid-in capital 207,120        
Accumulated other comprehensive losses (102,863)        
Deferred compensation 9,382        
Retained earnings 2,180,541        
Stockholders' equity 2,294,286        
Treasury stock at cost (602,098)        
Treasury stock held for deferred compensation (9,382)        
Total stockholders' equity 1,682,806        
Total liabilities and stockholders' equity $ 3,786,801        
[1] The adoption of ASC 606 changed the revenue recognition practices for a number of revenue generating activities across Woodward’s businesses, although the most significant impacts are concentrated in product being produced for customers that have no alternative use to Woodward and Woodward has an enforceable right to payment with a profit, and MRO. The revenue related to these activities, which previously was accounted for on a point in time basis, is now required to use an over time model because the associated contracts meet one or more of the mandatory criteria established in ASC 606, as described above, and are included as current unbilled receivables in “Accounts receivable” and noncurrent unbilled receivables in “Other assets.” The change in the timing of revenue recognized in connection with over time contracts similarly changed the timing of manufacturing cost recognition and certain engineering and development costs, which are reflected as a reduction to inventory.
[2] The value of noncash consideration in the form of exchanged products and other customer provided inventory is reflected in “Inventories,” and in contract liabilities, which are included in “Accrued liabilities.”
[3] The value of tax assets and tax liabilities was impacted by the change in timing of the recognition of assets and liabilities within tax jurisdictions. T
[4] The net book value of the backlog and customer relationships and contracts intangible assets was adjusted concurrent with the change in the timing of the associated revenue, resulting in a reduction in the net book value of these assets as of the date of adoption.
[5] Woodward recorded customer funding of product engineering and development identified as material rights as current and noncurrent deferred revenue contract liabilities included in “Accrued liabilities” and “Other liabilities.” The related customer funded product engineering and development costs were capitalized as costs to fulfill a contract, to the extent of the contractually committed customer funded payments, and are recorded as “Other assets.”