Joint Venture (Tables)

3 Months Ended

Dec. 31, 2023

Equity Method Investments and Joint Ventures [Abstract]

Unamortized Deferred Revenue from JV

Unamortized deferred revenue from material rights in connection with the JV formation included:

	December 31, 2023		September 30, 2023
Accrued liabilities	$	6,255	$	6,147
Other liabilities		232,553		233,997

Other Income Related JV

Other income related to Woodward’s equity interest in the earnings of the JV was as follows:

	Three Months Ended December 31,
	2023		2022
Other income	$	10,155	$	4,573

Cash Distribution from JV

Cash distributions to Woodward from the JV, recognized in “Other, net” in “Net cash provided by operating activities” on the Condensed Consolidated Statements of Cash Flows, were as follows:

	Three Months Ended December 31,
	2023		2022
Cash distributions	$	6,500	$	4,500

Net Sales to the JV

Net sales to the JV were as follows:

	Three Months Ended December 31,
	2023		2022
Net sales1	$	20,272	$	6,477

(1)Net sales included a reduction of $14,539 for the three months ended December 31, 2023 related to royalties owed to the JV by Woodward on sales by Woodward directly to third party aftermarket customers, compared to a reduction to sales of $7,570 for the three months ended December 31, 2022.

Accounts Receivable, Accounts Payable, and Other Assets Related to JV

The Condensed Consolidated Balance Sheets include “Accounts receivable” related to amounts the JV owed Woodward, “Accounts payable” related to amounts Woodward owed the JV, and “Other assets” related to Woodward’s net investment in the JV, as follows:

	December 31, 2023		September 30, 2023
Accounts receivable	$	3,978	$	3,666
Accounts payable		8,025		6,276
Other assets		19,683		16,028