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Revenue (Tables)

9 Months Ended

Jun. 30, 2021

Revenue From Contract With Customer [Abstract]

The amount of revenue recognized as point in time or over time follows:

	Three-Months Ended June 30, 2021						Three-Months Ended June 30, 2020
	Aerospace		Industrial		Consolidated		Aerospace		Industrial		Consolidated
Point in time	$	114,947	$	128,868	$	243,815	$	98,228	$	138,504	$	236,732
Over time		225,965		86,895		312,860		208,266		78,828		287,094
Total net sales	$	340,912	$	215,763	$	556,675	$	306,494	$	217,332	$	523,826

	Nine-Months Ended June 30, 2021						Nine-Months Ended June 30, 2020
	Aerospace		Industrial		Consolidated		Aerospace		Industrial		Consolidated
Point in time	$	336,477	$	414,305	$	750,782	$	464,068	$	463,498	$	927,566
Over time		690,808		234,025		924,833		790,587		246,248		1,036,835
Total net sales	$	1,027,285	$	648,330	$	1,675,615	$	1,254,655	$	709,746	$	1,964,401

Schedule of Accounts Receivable

Accounts receivable consisted of the following:

	June 30, 2021			September 30, 2020
Billed receivables
Trade accounts receivable	$	273,951		$	307,914
Other (Chinese financial institutions)		87,766			56,640
Total billed receivables		361,717			364,554
Current unbilled receivables (contract assets)		214,057			181,792
Total accounts receivable		575,774			546,346
Less: Allowance for uncollectible amounts		(3,831	)		(8,359	)
Total accounts receivable, net	$	571,943		$	537,987

Schedule of Uncollectible Amounts And Change in Expected Allowance for Credit Losses for Trade Accounts Receivable and Unbilled Receivables

The allowance for uncollectible amounts and change in expected credit losses for trade accounts receivable and unbilled receivables (contract assets) consisted of the following:

	Three-Months Ended			Nine-Months Ended
	June 30, 2021			June 30, 2021
Balance, beginning	$	7,522		$	8,359
Charged to costs and expenses, or sales allowance		581			1,709
Deductions		(4,367	)		(6,375	)
Other additions¹		95			138
Balance, ending	$	3,831		$	3,831

(1)

Includes effects of foreign exchange rate changes during the period.

Schedule of Contract Liability

Contract liabilities consisted of the following:

	June 30, 2021				September 30, 2020
	Current		Noncurrent		Current		Noncurrent
Deferred revenue from material rights from GE joint venture formation	$	4,595	$	235,463	$	4,066	$	234,240
Deferred revenue from advanced invoicing and/or prepayments from customers		3,227		513		3,239		85
Liability related to customer supplied inventory		17,456		—		14,955		—
Deferred revenue from material rights related to engineering and development funding		4,244		146,013		2,360		132,317
Net contract liabilities	$	29,522	$	381,989	$	24,620	$	366,642

Schedule of Disaggregation of Revenue

Revenue by primary market for the Aerospace reportable segment was as follows:

	Three-Months Ended June 30,				Nine-Months Ended June 30,
	2021		2020		2021		2020
Commercial OEM	$	96,290	$	63,804	$	274,278	$	367,080
Commercial aftermarket		75,508		68,332		218,602		328,302
Defense OEM		117,204		111,667		384,097		392,494
Defense aftermarket		51,910		62,691		150,308		166,779
Total Aerospace segment net sales	$	340,912	$	306,494	$	1,027,285	$	1,254,655

Revenue by primary market for the Industrial reportable segment was as follows:

	Three-Months Ended June 30,				Nine-Months Ended June 30,
	2021		2020		2021		2020
Reciprocating engines	$	166,143	$	158,804	$	494,099	$	497,012
Industrial turbines		49,620		53,486		154,231		164,663
Renewables¹		—		5,042		—		48,071
Total Industrial segment net sales	$	215,763	$	217,332	$	648,330	$	709,746

(1)

Sales in the renewables market were discontinued as of May 1, 2020 following the closing of the divestiture of the renewable power systems business and other related businesses (as described more fully in Note 10, Sale of businesses, and defined therein as the “disposal group”).

The customers who each account for approximately 10% or more of net sales of each of Woodward’s reportable segments are as follows:

Three-Months Ended June 30, 2021

Nine-Months Ended June 30, 2021

Aerospace

The Boeing Company, General Electric Company, Raytheon Technologies

Industrial

Rolls-Royce PLC, Weichai Westport

Rolls-Royce PLC, Weichai Westport,

General Electric Company