Joint Venture (Tables)

9 Months Ended

Jun. 30, 2024

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:

	June 30, 2024		September 30, 2023
Accrued liabilities	$	6,472	$	6,147
Other liabilities		234,159		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 June 30,				Nine Months Ended June 30,
	2024		2023		2024		2023
Other income	$	10,788	$	8,836	$	29,644	$	21,877

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 June 30,				Nine Months Ended June 30,
	2024		2023		2024		2023
Cash distributions	$	8,000	$	9,000	$	26,500	$	19,000

Net Sales to the JV

Net sales to the JV were as follows:

	Three Months Ended June 30,				Nine Months Ended June 30,
	2024		2023		2024		2023
Net sales1	$	19,465	$	11,568	$	61,817	$	25,365

(1)Net sales included a reduction of $14,606 for the three months and $44,137 for the nine months ended June 30, 2024 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 $14,396 for the three months and $34,854 for the nine months ended June 30, 2023.

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:

	June 30, 2024		September 30, 2023
Accounts receivable	$	4,510	$	3,666
Accounts payable		6,777		6,276
Other assets		19,172		16,028