Leases (Tables)

12 Months Ended

Sep. 30, 2024

Leases [Abstract]

Lease-Related Assets and Liabilities

Lease-related assets and liabilities follows:

	Classification on the Consolidated Balance Sheets	September 30, 2024		September 30, 2023
Assets:
Operating lease assets	Other assets	$	27,135	$	24,680
Finance lease assets	Property, plant, and equipment, net		2,516		3,337
Total lease assets			29,651		28,017
Current liabilities:
Operating lease liabilities	Accrued liabilities		5,029		4,594
Finance lease liabilities	Current portion of long-term debt		719		817
Noncurrent liabilities:
Operating lease liabilities	Other liabilities		22,670		20,685
Finance lease liabilities	Long-term debt, less current portion		2,017		2,733
Total lease liabilities		$	30,435	$	28,829

Supplemental Lease-Related Information

Supplemental lease-related information follows:

	September 30, 2024			September 30, 2023
Weighted average remaining lease term
Operating leases	8.1 years			8.6 years
Finance leases	3.8 years			4.6 years
Weighted average discount rate
Operating leases		4.4	%		4.0	%
Finance leases		4.6	%		4.6	%

Lease-Related Expenses

Lease-related expenses were as follows:

	Year Ended September 30,
	2024		2023		2022
Operating lease expense	$	6,804	$	6,213	$	6,335
Amortization of financing lease assets		820		914		454
Interest on financing lease liabilities		138		157		51
Variable lease expense		1,299		917		929
Short-term lease expense		164		196		190
Sublease income1		—		—		(192	)
Total lease expense	$	9,225	$	8,397	$	7,767

(1)Relates to two separate subleases Woodward has entered into for a leased manufacturing building in Niles, Illinois, each of which expired during fiscal year 2022.

Lease-Related Supplemental Cash Flow Information

Lease-related supplemental cash flow information was as follows:

	Year Ended September 30,
	2024		2023		2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	5,375	$	5,151	$	5,303
Operating cash flows for finance leases		138		157		51
Financing cash flows for finance leases		818		779		796
Right-of-use assets obtained in exchange for recorded lease obligations:
Operating leases		6,117		2,230		14,678
Finance leases		—		48		4,046

Maturities of Lease Liabilities

Maturities of lease liabilities were as follows:

Year Ending September 30:	Operating Leases			Finance Leases
2025	$	5,997		$	823
2026		5,255			824
2027		4,338			822
2028		3,962			234
2029		3,219			182
Thereafter		10,241			75
Total lease payments		33,012			2,960
Less: imputed interest		(5,313	)		(224	)
Total lease obligations	$	27,699		$	2,736

Property, Plant and Equipment Leased to Others through Embedded Leasing Arrangements

The carrying amount of property, plant, and equipment leased to others through embedded leasing arrangements, included in “Property, plant, and equipment, net” at the Consolidated Balance Sheets, was as follows:

	September 30, 2024			September 30, 2023
Property, plant, and equipment	$	48,495		$	45,766
Less accumulated depreciation		(32,994	)		(28,128	)
Property, plant, and equipment, net	$	15,501		$	17,638