Schedule of Amount of Expense Associated with Defined Contribution Plans

The amount of expense associated with defined contribution plans was as follows:


	Year Ended September 30,
	2023		2022		2021
Company costs	$	44,202	$	40,898	$	33,717

Defined Benefit Plan Disclosure [Line Items]

Schedule of Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan

The following tables provide a reconciliation of the changes in the projected benefit obligation and fair value of assets for the defined benefit pension plans:


	At or for the Year Ended September 30,
	United States						Other Countries						Total
	2023			2022			2023			2022			2023			2022
Changes in projected benefit obligation:
Projected benefit obligation at beginning of year	$	132,444		$	177,346		$	65,477		$	122,018		$	197,921		$	299,364
Service cost		893			1,554			1,333			2,339			2,226			3,893
Interest cost		7,297			5,281			3,137			1,612			10,434			6,893
Net actuarial gains		(4,946	)		(43,639	)		(4,442	)		(40,968	)		(9,388	)		(84,607	)
Contribution by participants		—			—			11			10			11			10
Benefits paid		(8,466	)		(8,098	)		(3,365	)		(3,487	)		(11,831	)		(11,585	)
Foreign currency exchange rate changes		—			—			5,112			(16,047	)		5,112			(16,047	)
Projected benefit obligation at end of year	$	127,222		$	132,444		$	67,263		$	65,477		$	194,485		$	197,921
Changes in fair value of plan assets:
Fair value of plan assets at beginning of year	$	154,481		$	221,263		$	47,579		$	69,844		$	202,060		$	291,107
Actual return on plan assets		9,355			(58,684	)		573			(9,822	)		9,928			(68,506	)
Contributions by the Company		—			—			2,322			2,370			2,322			2,370
Contributions by plan participants		—			—			11			10			11			10
Benefits paid		(8,466	)		(8,098	)		(3,365	)		(3,487	)		(11,831	)		(11,585	)
Foreign currency exchange rate changes		—			—			3,655			(11,336	)		3,655			(11,336	)
Fair value of plan assets at end of year	$	155,370		$	154,481		$	50,775		$	47,579		$	206,145		$	202,060
Net over/(under) funded status at end of year	$	28,148		$	22,037		$	(16,488	)	$	(17,898	)	$	11,660		$	4,139

Schedule of Amounts Recognized in Balance Sheet and Accumulated Other Comprehensive (Earnings) Losses

The following tables provide the amounts recognized in the statement of financial position and accumulated other comprehensive (earnings) losses for the defined benefit pension plans:


	Year Ended September 30,
	United States						Other Countries						Total
	2023			2022			2023			2022			2023			2022
Amounts recognized in statement of financial position consist of:
Other non-current assets	$	29,172		$	24,159		$	14,167		$	9,892		$	43,339		$	34,051
Accrued liabilities		—			—			(1,084	)		(976	)		(1,084	)		(976	)
Other non-current liabilities		(1,024	)		(2,122	)		(29,571	)		(26,814	)		(30,595	)		(28,936	)
Net over/(under) funded status at end of year	$	28,148		$	22,037		$	(16,488	)	$	(17,898	)	$	11,660		$	4,139
Amounts recognized in accumulated other comprehensive (earnings) losses consist of:
Unrecognized net prior service cost	$	2,777		$	3,475		$	487		$	462		$	3,264		$	3,937
Unrecognized net losses (gains)		8,527			14,822			(7,847	)		(5,459	)		680			9,363
Total amounts recognized		11,304			18,297			(7,360	)		(4,997	)		3,944			13,300
Deferred taxes		(6,101	)		(7,801	)		808			(697	)		(5,293	)		(8,498	)
Amounts recognized in accumulated other comprehensive (earnings) losses	$	5,203		$	10,496		$	(6,552	)	$	(5,694	)	$	(1,349	)	$	4,802

Schedule of Expected Benefit Payments

Pension benefit payments are made from the assets of the pension plans. The German pension plans are unfunded; therefore, benefit payments are made from Company contributions into these plans as required to meet the payment obligations. Using foreign exchange rates as of September 30, 2023 and expected future service assumptions, it is anticipated that the future benefit payments will be as follows:


Year Ending September 30,	United States		Other Countries		Total
2024	$	9,358	$	3,292	$	12,650
2025		9,737		3,333		13,070
2026		10,008		3,375		13,383
2027		10,253		3,476		13,729
2028		10,443		3,742		14,185
2029-2033		53,023		21,530		74,553

Schedule of Allocation of Plan Assets, Fair Value Hierarchy

The following tables present Woodward’s pension plan assets using the fair value hierarchy established by U.S. GAAP:


	At September 30, 2023
	Level 1				Level 2				Level 3
	United States		Other Countries		United States		Other Countries		United States		Other Countries		Total
Asset Category:
Cash and cash equivalents	$	2,385	$	149	$	—	$	—	$	—	$	—	$	2,534
Mutual funds:
U.S. corporate bond fund		103,401		—		—		—		—		—		103,401
U.S. equity large cap fund		31,136		—		—		—		—		—		31,136
International equity large cap growth fund		18,448		—		—		—		—		—		18,448
Pooled funds:
Japanese equity securities		—		—		—		1,830		—		—		1,830
International equity securities		—		—		—		1,600		—		—		1,600
Japanese fixed income securities		—		—		—		3,785		—		—		3,785
International fixed income securities		—		—		—		1,287		—		—		1,287
Global target return equity/bond fund		—		—		—		8,719		—		—		8,719
Index linked U.K. corporate bonds fund		—		—		—		14,319		—		—		14,319
Index linked U.K. government securities fund		—		—		—		14,601		—		—		14,601
Index linked U.K. long-term government securities fund		—		—		—		4,485		—		—		4,485
Total assets	$	155,370	$	149	$	—	$	50,626	$	—	$	—	$	206,145


	At September 30, 2022
	Level 1				Level 2				Level 3
	United States		Other Countries		United States		Other Countries		United States		Other Countries		Total
Asset Category:
Cash and cash equivalents	$	2,265	$	467	$	—	$	—	$	—	$	—	$	2,732
Mutual funds:
U.S. corporate bond fund		106,653		—		—		—		—		—		106,653
U.S. equity large cap fund		28,088		—		—		—		—		—		28,088
International equity large cap growth fund		17,475		—		—		—		—		—		17,475
Pooled funds:
Japanese equity securities		—		—		—		1,775		—		—		1,775
International equity securities		—		—		—		1,610		—		—		1,610
Japanese fixed income securities		—		—		—		3,875		—		—		3,875
International fixed income securities		—		—		—		1,325		—		—		1,325
Global target return equity/bond fund		—		—		—		11,533		—		—		11,533
Index linked U.K. equity fund		—		—		—		2,253		—		—		2,253
Index linked international equity fund		—		—		—		4,271		—		—		4,271
Index linked U.K. corporate bonds fund		—		—		—		12,124		—		—		12,124
Index linked U.K. government securities fund		—		—		—		3,701		—		—		3,701
Index linked U.K. long-term government securities fund		—		—		—		4,645		—		—		4,645
Total assets	$	154,481	$	467	$	—	$	47,112	$	—	$	—	$	202,060

Defined Benefit Plan Disclosure [Line Items]

Schedule of Net Periodic Benefit Costs

Net periodic benefit costs consist of the following components reflected as expense in Woodward’s Consolidated Statements of Earnings:


	Year Ended September 30,
	2023			2022			2021
Service cost	$	1		$	1		$	1
Interest cost		904			577			599
Amortization of:
Net (gain) loss		(495	)		(94	)		30
Net prior service cost (benefit)		—			—			1
Net periodic cost	$	410		$	484		$	631

Schedule of Amounts Recognized in Balance Sheet and Accumulated Other Comprehensive (Earnings) Losses

The following tables provide the amounts recognized in the statement of financial position and accumulated other comprehensive (earnings) losses for the postretirement plans:


	Year Ended September 30,
	2023			2022
Amounts recognized in statement of financial position consist of:
Accrued liabilities	$	(1,739	)	$	(1,803	)
Other non-current liabilities		(13,597	)		(14,994	)
Funded status at end of year	$	(15,336	)	$	(16,797	)
Amounts recognized in accumulated other comprehensive income consist of:
Unrecognized net prior service cost (benefit)	$	—		$	—
Unrecognized net gains		(6,412	)		(6,225	)
Total amounts recognized		(6,412	)		(6,225	)
Deferred taxes		1,292			1,247
Amounts recognized in accumulated other comprehensive (earnings)	$	(5,120	)	$	(4,978	)

Schedule of Health Care Cost Trend Rates

Assumed healthcare cost trend rates at September 30, were as follows:


	2023			2022
Health care cost trend rate assumed for next year		6.00	%		6.00	%
Rate to which the cost trend rate is assumed to decline
(the ultimate trend rate)		5.00	%		5.00	%
Year that the rate reaches the ultimate trend rate	2030			2027

Schedule of Actuarial Assumptions Used

The actuarial assumptions used in measuring the net periodic benefit cost and plan obligations of retirement pension benefits were as follows:


	At September 30,
	2023		2022		2021
United States:
Weighted-average assumptions to determine benefit obligation:
Discount rate	6.20%		5.70%		3.05%
Weighted-average assumptions to determine periodic benefit costs:
Discount rate		5.70		3.05		2.75
Long-term rate of return on plan assets		5.53		5.00		7.15

Defined Benefit Plan Disclosure [Line Items]

Schedule of Actuarial Assumptions Used


	At September 30,
	2023		2022		2021
Japan:
Weighted-average assumptions to determine benefit obligation:
Discount rate	2.01%		1.60%		0.92%
Rate of compensation increase		2.00		2.00		2.00
Weighted-average assumptions to determine periodic benefit costs:
Discount rate - service cost		1.78		1.13		1.33
Discount rate - interest cost		1.17		0.65		0.74
Rate of compensation increase		2.00		2.25		2.00
Long-term rate of return on plan assets		2.75		2.00		2.00

Defined Benefit Plan Disclosure [Line Items]