Segment Information

3 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Segment Information

Note 23. Segment information

Woodward serves the aerospace and industrial markets through its two reportable segments – Aerospace and Industrial. When appropriate, Woodward’s reportable segments are aggregations of Woodward’s operating segments. Woodward uses operating segment information internally to manage its business, including the assessment of operating segment performance and decisions for the allocation of resources between operating segments.

The accounting policies of the reportable segments are the same as those of the Company. Woodward evaluates segment profit or loss based on internal performance measures for each segment in a given period. In connection with that assessment, Woodward generally excludes matters such as certain charges for restructuring, interest income and expense, certain gains and losses from asset dispositions, or other non-recurring and/or non-operationally related expenses.

A summary of consolidated net sales and earnings by segment follows:

	Three Months Ended December 31,
	2024			2023
Segment external net sales:
Aerospace	$	493,882		$	460,756
Industrial		278,843			325,974
Total consolidated net sales	$	772,725		$	786,730
Segment earnings:
Aerospace	$	94,725		$	79,002
Industrial		40,197			66,881
Nonsegment expenses		(22,104	)		(26,200	)
Interest expense, net		(10,964	)		(9,963	)
Consolidated earnings before income taxes	$	101,854		$	109,720

Segment assets consist of accounts receivable, inventories, property, plant, and equipment, net, goodwill, and other intangibles, net. A summary of consolidated total assets by segment follows:

	December 31, 2024		September 30, 2024
Segment assets:
Aerospace	$	1,921,228	$	1,936,507
Industrial		1,394,947		1,509,495
Unallocated corporate property, plant, and equipment, net		120,266		120,946
Other unallocated assets		844,941		801,967
Consolidated total assets	$	4,281,382	$	4,368,915