On November 15, 2024, Woodward entered into a definitive agreement to sell the Industrial heavy duty gas turbine combustion parts product line located in Greenville, South Carolina to GE Vernova. The sale of the product line is expected to result in a gain and close later in fiscal year 2025.

The following table presents balance sheet information of the heavy duty gas turbine combustion parts product line as of December 31, 2024:


	December 31, 2024
Assets:
Inventories	$	18,316
Property, plant, and equipment		3,198
Goodwill		5,772
Intangible assets		2,269
Other assets		2,492
Total assets held for sale		32,047

Liabilities:
Accrued liabilities		1,979
Other noncurrent liabilities		2,343
Total liabilities held for sale	$	4,322

On December 19, 2024, Woodward entered into a definitive agreement to acquire the Safran Electronics & Defense electromechanical actuation business based in the United States, Mexico, and Canada. The acquisition includes intellectual property, operations assets, talent, and long-term customer agreements for Horizontal Stabilizer Trim Actuation (HSTA) systems for aircraft stabilization to support safe and efficient flight, notably used for the Airbus A350. The acquisition is expected to close later in fiscal year 2025.

The Company periodically reviews its business and from time to time may sell businesses, assets, or product lines as part of business rationalization. Any gain or loss recognized due to divestitures is recorded within the line item “Other (income) expense, net” in the Condensed Consolidated Statements of Earnings.

In connection with certain product rationalization activities, during the three months ended December 31, 2024, the Company sold certain product lines of its Industrial segment. The Company received cash proceeds of $1,438 and receivables of $9,213 included in “Other current assets” and “Other assets,” in the Condensed Consolidated Balance Sheets and recognized a pretax gain of $9,361.