Accrued Liabilities

9 Months Ended

Jun. 30, 2024

Accrued Liabilities, Current [Abstract]

Note 15. Accrued liabilities


	June 30, 2024		September 30, 2023
Salaries and other member benefits	$	115,758	$	146,713
Product warranties and related liabilities		21,221		18,162
Interest payable		4,155		13,611
Accrued retirement benefits		2,836		2,822
Net current contract liabilities		49,665		33,748
Taxes, other than income		19,511		13,436
Other		35,294		34,124
	$	248,440	$	262,616

Product warranties and related liabilities

Provisions of Woodward’s sales agreements include product warranties customary to these types of agreements. Accruals are established for specifically identified warranty issues and related liabilities for which are probable to result in future costs. Warranty costs are accrued because revenue is recognized on a non-specific basis whenever past experience indicates a normal and predictable pattern exists.

Changes in accrued product warranties and related liabilities were as follows:


	Three Months Ended June 30,						Nine Months Ended June 30,
	2024			2023			2024			2023
Beginning of period	$	19,800		$	46,492		$	18,162		$	40,042
Additions, net of recoveries		3,808			2,424			13,767			22,847
Reductions for settlement		(2,333	)		(9,433	)		(10,739	)		(23,636	)
Foreign currency exchange rate changes		(54	)		(59	)		31			171
End of period	$	21,221		$	39,424		$	21,221		$	39,424

Restructuring charges

In fiscal year 2022, the Company determined to implement a streamlined Aerospace and Industrial organizational and leadership structure designed to enhance the sales experience for customers, simplify operations, and increase profitability through improved execution. In connection with leadership changes arising from such reorganization, we recorded $1,083 of restructuring charges as nonsegment expenses, which were paid as of December 31, 2022.

During the second quarter of fiscal year 2023, the Company committed to a cost reduction plan ("Cost Reduction Plan") to better align the cost structure and recorded $5,172 of restructuring charges. The charges recognized under the Cost Reduction Plan consisted of workforce management costs primarily related to aligning the cost structure of the Company's

Industrial segment with the then current market conditions. All of the restructuring charges were recorded as nonsegment expenses and as of June 30, 2023, $3,594 was paid and the remaining restructuring charges were paid within the subsequent twelve months.