Woodward (WWD) 10-Q 25 Jan 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Dec. 31, 2016	Jan. 23, 2017
Document and Entity Information
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Dec. 31, 2016
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Entity Registrant Name	WOODWARD, INC.
Entity Central Index Key	108,312
Current Fiscal Year End Date	--09-30
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		61,439,846
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes

Consolidated Statements of Earn

Consolidated Statements of Earnings - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Consolidated Statements of Earnings
Net sales	$ 442,894	$ 445,110
Costs and expenses:
Cost of goods sold	327,194	333,377
Selling, general and administrative expenses	33,796	40,782
Research and development costs	26,540	31,597
Amortization of intangible assets	6,458	6,946
Interest expense	6,840	6,908
Interest income	(405)	(447)
Other (income) expense, net (Note 15)	(4,588)	(2,009)
Total costs and expenses	395,835	417,154
Earnings before income taxes	47,059	27,956
Income tax expense	511	2,136
Net earnings	$ 46,548	$ 25,820
Earnings per share (Note 3):
Basic earnings per share	$ 0.76	$ 0.41
Diluted earnings per share	$ 0.73	$ 0.40
Weighted Average Common Shares Outstanding (Note 3):
Basic	61,559	63,054
Diluted	63,671	64,452
Cash dividends per share paid to Woodward common stockholders	$ 0.11	$ 0.10

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Earnings - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Comprehensive earnings
Net earnings	$ 46,548	$ 25,820
Other comprehensive earnings:
Foreign currency translation adjustments	(18,635)	(10,254)
Gain on foreign currency transactions designated as hedges of net investments in a foreign subsidiaries	3,830	862
Taxes on changes in foreign currency translation adjustments	(306)	306
Foreign currency translation and transactions adjustments, net of tax	(15,111)	(9,086)
Reclassification of net realized (gains) losses on derivatives to earnings	(18)	29
Taxes on changes in derivative transactions	7	(11)
Derivative adjustments, net of tax	(11)	18
Minimum retirement benefit liability adjustments:
Amortization of net prior service cost (benefit)	56	56
Amortization of net loss	641	427
Foreign currency exchange rate changes on minimum retirement benefit liabilities	1,255	284
Taxes on changes on minimum retirement benefit liability adjustments, net of foreign currency exchange rate changes	(693)	(286)
Pension and other postretirement benefit plan adjustments, net of tax	1,259	481
Total comprehensive earnings	$ 32,685	$ 17,233

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2016	Sep. 30, 2016
Current assets:
Cash and cash equivalents	$ 80,885	$ 81,090
Accounts receivable, less allowance for uncollectible amounts of $2,641 and $2,540, respectively	252,761	343,768
Inventories	493,764	461,683
Income taxes receivable	23,129	20,358
Other current assets	34,257	37,525
Total current assets	884,796	944,424
Property, plant and equipment, net	877,077	876,350
Goodwill	553,300	555,684
Intangible assets, net	190,933	197,650
Deferred income tax assets	18,963	20,194
Other assets	51,146	48,060
Total assets	2,576,215	2,642,362
Current liabilities:
Short-term borrowings and current portion of long-term debt	150,000	150,000
Accounts payable	149,280	169,439
Income taxes payable	1,374	4,547
Accrued liabilities	115,823	156,627
Total current liabilities	416,477	480,613
Long-term debt, less current portion	569,878	577,153
Deferred income tax liabilities	9,063	3,777
Other liabilities	358,429	368,224
Total liabilities	1,353,847	1,429,767
Commitments and contingencies (Note 19)
Stockholders' equity:
Preferred stock, par value $0.003 per share, 10,000 shares authorized, no shares issued	0	0
Common stock, par value $0.001455 per share, 150,000 shares authorized, 72,960 shares issued	106	106
Additional paid-in capital	142,664	141,570
Accumulated other comprehensive losses	(79,568)	(65,705)
Deferred compensation	6,889	5,089
Retained earnings	1,689,275	1,649,506
Stockholders' equity excluding treasury stock	1,759,366	1,730,566
Treasury stock at cost, 11,559 shares and 11,374 shares, respectively	(530,109)	(512,882)
Treasury stock held for deferred compensation, at cost, 183 shares and 157 shares, respectively	(6,889)	(5,089)
Total Stockholders' Equity	1,222,368	1,212,595
Total liabilities and stockholders' equity	$ 2,576,215	$ 2,642,362

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2016	Sep. 30, 2016
Current assets:
Allowance, accounts receivable	$ 2,641	$ 2,540
Stockholders' equity:
Preferred stock, par value	$ 0.003	$ 0.003
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Common stock, par value	$ 0.001455	$ 0.001455
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	72,960,000	72,960,000
Treasury stock, shares	11,374,000	11,374,000
Treasury stock held for deferred compensation, shares	157,000	157,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Cash flows from operating activities:
Net earnings	$ 46,548	$ 25,820
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	18,913	17,062
Net (gain) loss on sales of assets	(3,699)	(1,602)
Stock-based compensation	1,261	8,451
Deferred income taxes	4,777	9,768
(Gain) loss on derivatives reclassified from accumulated comprehensive earnings into earnings	(18)	29
Changes in operating assets and liabilities:
Accounts receivable	87,615	74,717
Inventories	(37,632)	(25,091)
Accounts payable and accrued liabilities	(54,563)	(56,816)
Current income taxes	(5,731)	(10,517)
Retirement benefit obligations	(897)	(874)
Other	(4,223)	(3,587)
Net cash provided by operating activities	52,351	37,360
Cash flows from investing activities:
Payments for purchase of property, plant and equipment	(21,058)	(33,131)
Net proceeds from sale of assets	3,682	1,852
Proceeds from sales of short-term investments	758	0
Net cash used in investing activities	(16,618)	(31,279)
Cash flows from financing activities:
Cash dividends paid	(6,779)	(6,321)
Proceeds from sales of treasury stock	4,843	1,252
Payments for repurchases of common stock	(24,004)	(30,712)
Borrowings on revolving lines of credit and short-term borrowings	316,650	220,000
Payments on revolving lines of credit and short-term borrowings	(312,800)	(135,598)
Payments of long-term debt and capital lease obligations	(102)	(50,000)
Net cash provided by (used in) financing activities	(22,192)	(1,379)
Effect of exchange rate changes on cash and cash equivalents	(13,746)	(2,482)
Net change in cash and cash equivalents	(205)	2,220
Cash and cash equivalents at beginning of year	81,090	82,202
Cash and cash equivalents at end of period	$ 80,885	$ 84,422

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total stockholders equity	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Total Accumulated Other Comprehensive (Loss) Earnings [Member]	Foreign Currency Translation Adjustments [Member]	Unrealized Derivative Gains (Losses) [Member]	Minimum Retirement Benefit Liability Adjustments [Member]	Deferred Compensation in Equity [Member]	Retained Earnings [Member]	Treasury Stock at Cost [Member]	Treasury Stock Held for Deferred Compensaton [Member]	Total
Balances at Sep. 30, 2015	$ 1,153,104		$ 106	$ 131,231	$ (51,458)	$ (21,610)	$ 166	$ (30,014)	$ 4,322	$ 1,495,274	$ (422,049)	$ (4,322)
Balance, Preferred Stock, shares at Sep. 30, 2015		0
Balance, Common Stock, shares at Sep. 30, 2015			72,960,000
Balance, Treasury Stock, shares at Sep. 30, 2015											(9,763,000)
Balance, Treasury stock held for deferred compensation, Shares at Sep. 30, 2015												(173,000)
Net earnings	25,820									25,820			$ 25,820
Other comprehensive income (loss), net of tax	(8,587)				(8,587)	(9,086)	18	481
Cash dividends paid	(6,321)									(6,321)
Purchases of treasury stock	(30,712)										$ (30,712)
Purchases of treasury stock, shares											(624,000)
Sales of treasury stock	1,252			(406)							$ 1,658
Sales of treasury stock, shares											49,000
Common shares issued from treasury stock to settle employee liabilities													0
Stock-based compensation	8,451			8,451
Purchases of stock by deferred compensation plan									1,027			$ (1,027)
Purchases of stock by deferred compensation plan, shares												(21,000)
Distribution of stock from deferred compensation plan									(4)			$ 4
Distribution of stock from deferred compensation plan, shares												(1,000)
Balances at Dec. 31, 2015	1,143,007		$ 106	139,276	(60,045)	(30,696)	184	(29,533)	5,345	1,514,773	$ (451,103)	$ (5,345)
Balance, Preferred Stock, shares at Dec. 31, 2015		0
Balance, Common Stock, shares at Dec. 31, 2015			72,960,000
Balance, Treasury Stock, shares at Dec. 31, 2015											(10,338,000)
Balance, Treasury stock held for deferred compensation, Shares at Dec. 31, 2015												(195,000)
Balances at Sep. 30, 2016	1,212,595		$ 106	141,570	(65,705)	(25,971)	179	(39,913)	5,089	1,649,506	$ (512,882)	$ (5,089)	$ 1,212,595
Balance, Preferred Stock, shares at Sep. 30, 2016		0											0
Balance, Common Stock, shares at Sep. 30, 2016			72,960,000										72,960,000
Balance, Treasury Stock, shares at Sep. 30, 2016											(11,374,000)		(11,374,000)
Balance, Treasury stock held for deferred compensation, Shares at Sep. 30, 2016												(157,000)	(157,000)
Net earnings	46,548									46,548			$ 46,548
Other comprehensive income (loss), net of tax	(13,863)				(13,863)	(15,111)	(11)	1,259
Cash dividends paid	(6,779)									(6,779)
Purchases of treasury stock	(24,004)										$ (24,004)
Purchases of treasury stock, shares											(350,000)
Sales of treasury stock	4,843			(907)							$ 5,750
Sales of treasury stock, shares											139,000
Common shares issued from treasury stock to settle employee liabilities	1,767			740					1,767		$ 1,027	$ (1,767)	1,767
Common shares issued from treasury stock to settle employee liabilities, shares											26,000	(26,000)
Stock-based compensation	1,261			1,261
Purchases of stock by deferred compensation plan									37			$ (37)
Distribution of stock from deferred compensation plan									(4)			$ 4
Distribution of stock from deferred compensation plan, shares												0
Balances at Dec. 31, 2016	$ 1,222,368		$ 106	$ 142,664	$ (79,568)	$ (41,082)	$ 168	$ (38,654)	$ 6,889	$ 1,689,275	$ (530,109)	$ (6,889)	$ 1,222,368
Balance, Preferred Stock, shares at Dec. 31, 2016		0											0
Balance, Common Stock, shares at Dec. 31, 2016			72,960,000										72,960,000
Balance, Treasury Stock, shares at Dec. 31, 2016											(11,559,000)		(11,374,000)
Balance, Treasury stock held for deferred compensation, Shares at Dec. 31, 2016												(183,000)	(157,000)

Consolidated Statement of Stock

Consolidated Statement of Stockholders' Equity (Parenthetical) - $ / shares	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Stockholders Equity [Abstract]
Common Stock, Dividends, Per Share, Cash Paid	$ 0.11	$ 0.10

Basis of Presentation

Basis of Presentation	3 Months Ended
	Dec. 31, 2016
Basis of Presentation
Basis of Presentation	WOODWARD, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (In thousands, except per share amounts) (Unaudited)  Note 1. Basis of presentation The Condensed Consolidated Financial Statements of Woodward, Inc. (“Woodward” or the “Company”) as of December 31, 2016 and for the three-months ended December 31, 2016 and December 31, 2015, included herein, have not been audited by an independent registered public accounting firm. These Condensed Consolidated Financial Statements reflect all normal recurring adjustments that, in the opinion of management, are necessary to present fairly Woodward’s financial position as of December 31, 2016, and the statements of earnings, comprehensive earnings, cash flows, and changes in stockholders’ equity for the periods presented herein. The results of operations for the three-months ended December 31, 2016 are not necessarily indicative of the operating results to be expected for other interim periods or for the full fiscal year. Dollar and share amounts contained in these Condensed Consolidated Financial Statements are in thousands, except per share amounts. The Condensed Consolidated Financial Statements included herein have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim reporting. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been condensed or omitted pursuant to such rules and regulations. These unaudited Condensed Consolidated Financial Statements should be read in conjunction with the audited Consolidated Financial Statements and Notes thereto included in Woodward’s most recent Annual Report on Form 10-K filed with the SEC and other financial information filed with the SEC. Management is required to use estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements, the reported revenues and expenses recognized during the reporting period, and certain financial statement disclosures, in the preparation of the Condensed Consolidated Financial Statements included herein. Significant estimates in these Condensed Consolidated Financial Statements include allowances for uncollectible amounts, net realizable value of inventories, customer rebates earned and payable, warranty reserves, useful lives of property and identifiable intangible assets, the evaluation of impairments of property, the provision for income tax and related valuation reserves, assumptions used in the determination of the funded status and annual expense of pension and postretirement employee benefit plans, the valuation of stock compensation instruments granted to employees and board members, and contingencies. Actual results could vary from Woodward’s estimates.  

New Accounting Standards

New Accounting Standards	3 Months Ended
	Dec. 31, 2016
Recent Accounting Pronouncements
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	Note 2. New accounting standards From time to time, the Financial Accounting Standards Board (“FASB”) or other standards setting bodies issue new accounting pronouncements. Updates to the FASB Accounting Standards Codification (“ASC”) are communicated through issuance of an Accounting Standards Update (“ASU”). In October 2016, the FASB issued ASU 2016-16, “Accounting for Income Taxes: Intra-Entity Asset Transfers of Assets Other than Inventory.” ASU 2016-16 eliminates the current U.S. GAAP exception deferring the tax effects of intercompany asset transfers (other than inventory) until the transferred asset is sold to a third party or otherwise recovered through use. After adoption of ASU 2016-16, Woodward will recognize the tax consequences of intercompany asset transfers in the buyer’s and seller’s tax jurisdictions when the transfer occurs, even though the pre-tax effects of these transactions are eliminated in consolidation. ASU 2016-16 is effective for fiscal years beginning after December 15, 2017 (fiscal year 2019 for Woodward), including interim periods within the year of adoption. Early adoption is allowed only in the first quarter of fiscal year 2017 or the first quarter of fiscal year 2018. Modified retrospective adoption is required with any cumulative-effect adjustment recorded to retained earnings as of the beginning of the period of adoption. Woodward is currently assessing the impact this guidance may have on its Condensed Consolidated Financial Statements. In June 2016, the FASB issued ASU 2016-13, “Measurement of Credit Los ses on Financial Instruments.” ASU 2016-13 adds a current expected credit loss (“CECL”) impairment model to U.S. GAAP that is based on expected losses rather than incurred losses. ASU 2016-13 is effective for fiscal years beginning after December 15, 2019 (fiscal year 2021 for Woodward), including interim periods within the year of adoption. Early adoption is permitted for fiscal years beginning after December 15, 2018 (fiscal year 2020 for Woodward), including interim periods within those fiscal years. Woodward has not determined in which period it will adopt the new guidance but does not expect the application of the CECL impairment model to have a significant impact on Woodward’s allowance for uncollectible amounts for accounts receivable and notes receivable from municipalities.   In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842).” The purpose of ASU 2016-02 is to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. ASU 2016-02 is effective for fiscal years beginning after December 15, 2018 (fiscal year 2020 for Woodward), including interim periods within the year of adoption. In transition, Woodward will be required to recognize and measure leases beginning in the earliest period presented using a modified retrospective approach; therefore, Woodward anticipates restating its Consolidated Financial Statements for the two fiscal years prior to the year of adoption. Early adoption is permitted. Woodward has not determined in which period it will adopt the new guidance and is currently assessing the impact this guidance may have on its Consolidated Financial Statements, including which of its existing operating leases will be impacted by the new guidance. Rent expense for all operating leases in fiscal year 2016, none of which was recognized on the balance sheet , was $7,359 . As of September 30, 2016, f uture minimum rental payments required under operating leases, none of which were recognized on the balance sheet, were $15,612 . In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers” and has subsequently issued several supplemental and/or clarifying ASUs (collectively “ASC 606”). ASC 606 prescribes a single common revenue standard that replaces most existing U.S. GAAP revenue recognition guidance. ASC 606 outlines a five-step model, under which Woodward will recognize revenue as performance obligations within a c ustomer contract are satisfied. ASC 606 is intended to provide more consistent interpretation and application of the principles outlined in the standard across filers in multiple industries and within the same industries compared to current practices, whic h should improve comparability. Adoption of ASC 606 is required for annual reporting periods beginning after December 15, 2017 (fiscal year 2019 for Woodward), including interim perio ds within the reporting period. Woodward may elect to adopt ASC 606 in fiscal year 2018 , but does not expect to do so. Upon adoption, Woodward must elect to adopt either retrospectively to each prior reporting period presented or using the cumulative effect transition method with the cumulative effect of initial adoption recognized at t he date of initial application. Woodward has not determined what transition method it will use. Woodward is currently assessing the impact that the future adoption of ASC 606 may have on its Consolidated Financial Statements by analyzing its current portfolio of customer contracts, including a review of historical accounting policies and practices to identify potential differences in applying the guidance of ASC 606. Based on Woodward’s preliminary review of its customer contracts, Woodward expects that revenue on the majority of its customer contracts will continue to be recognized at a point in time, generally upon shipment of products, consistent with Woodward’s current revenue recognition model. Upon adoption of ASC 606, however, Woodward also believes some of its revenue s from sales of products and services to customers will be recognized over time, rather than at a point in time, due to the terms of certain customer contracts . Related to recognizing some revenue over time, inventory levels and accounts receivable balances will be impacted . As such, Woodward believes the adoption of ASC 606 may have an impact on both the timing of revenue recognition and various line items within the Consolidated Balance Sheet. 

Earnings Per Share

Earnings Per Share	3 Months Ended
	Dec. 31, 2016
Earnings Per Share
Earnings Per Share	Note 3. Earnings per share Basic earnings per share is computed by dividing net earnings available to common stockholders by the weighted-average number of shares of common stock outstanding for the period. Diluted earnings per share reflects the weighted-average number of shares outstanding after consideration of the dilutive effect of stock options and restricted stock. The following is a reconciliation of net earnings to basic earnings per share and diluted earnings per share:       Three-Months Ended  December 31,  2016 2015  Numerator:  Net earnings $ 46,548 $ 25,820  Denominator:  Basic shares outstanding 61,559 63,054  Dilutive effect of stock options and restricted stock 2,112 1,398  Diluted shares outstanding 63,671 64,452  Income per common share:  Basic earnings per share $ 0.76 $ 0.41  Diluted earnings per share $ 0.73 $ 0.40 There were no stock option grants outstanding during the three-months ended December 3 1 , 2016 or 2015 that were excluded from the computation of diluted earnings per share because their inclusion would have been anti-dilutive .    The weighted-average shares of common stock outstanding for basic and diluted earnings per share included the weighted-average treasury stock shares held for deferred compensation obligations of the following:        Three-Months Ended  December 31,  2016 2015  Weighted-average treasury stock shares held for deferred compensation obligations 170 184  

Joint Venture

Joint Venture	3 Months Ended
	Dec. 31, 2016
Equity Method Investments and Joint Ventures [Abstract]
Joint Venture	Note 4. Joint venture On January 4, 2016, Woodward and General Electric Company (“GE”), acting through its GE Aviation business unit, consummated the formation of a strategic joint venture between Woodward and GE (the “JV”). The JV designs, develops and sources the fuel system for specified existing and all future GE commercial aircraft engines that produce thrust in excess of fifty thousand pounds. As part of the JV formation, Woodward contributed to the JV certain contractual rights and intellectual property applicable to the existing GE commercial aircraft engine programs within the scope of the JV. Woodward has no initial cost basis in the JV because Woodward had no cost basis in the contractual rights and intellectual property contributed to the JV. GE purchased from Woodward a 50% ownership interest in the JV for a $250,000 cash payment to Woodward. In addition, GE will pay contingent consideration to Woodward consisting of fifteen annual payments of $4,894 per year beginning January 4, 2017 subject to certain claw-back conditions. Neither Woodward nor GE contributed any tangible assets to the JV. Woodward determined that the JV formation was not the culmination of an earnings event because Woodward has significant performance obligations to support the future operations of the JV. Therefore, Woodward recorded the $250,000 consideration received from GE , in January of 2016, for its purchase of a 50% equity interest in the JV as deferred income. The $250,000 deferred income will be recognized as an increase to net sales in proportion to revenue realized on sales of applicable fuel systems within the scope of the JV in a particular period as a percentage of total revenue expected to be realized by Woodward over the estimated remaining lives of the underlying commercial aircraft engine programs assigned to the JV. Unamortized deferred income realized upon the JV formation included accrued liabilities o f $6,452 as of December 31, 2016 and $6,552 as of September 30, 2016 , and other liabilities of $236,791 as of December 31, 2016 and $238,187 as of September 30, 2016. Amortization of the deferred income recognized as an increase to sales was $1,496 for the three-months ended December 31, 2016. Woodward and GE jointly manage the JV and any significant decisions and/or actions of the JV require the mutual consent of both parties. Neither Woodward nor GE has a controlling financial interest in the JV, but both Woodward and GE do have the ability to significantly influence the operating and financial decisions of the JV. Therefore, Woodward is accounting for its 50% ownership interest in the JV using the equity method of accounting. The JV is a related party to Woodward. Other income includes $68 4 for the three -months ended December 3 1 , 2016 related to Woodward’s equity interest in the earnings of the JV. During the three -months ended December 31 , 2016, Woodward received no cash distributions from the JV . Woodward’s net investment in the JV , which is included in other assets, was $6,888 as of December 3 1 , 2016. During the three -months ended December 3 1 , 2016, Woodward ’s n et sales include $15,302 of sales to the JV and a reduction to sales of $5,403 related to royalties paid to the JV by Woodward on sales by Woodward directly to third party aftermarket customers. The Condensed Consolidated Balance Sheets , included “Accounts receivable” of $5,145 a t December 3 1, 2016 and $5,326 at September 30, 2016 related to amounts the JV owed Woodward , and included “Accounts payable” of $5,012 at December 31, 2016 and $3,926 at September 30, 2016 related to amounts Woodward owed the JV. 

Financial Instruments and Fair

Financial Instruments and Fair Value Measurements	3 Months Ended
	Dec. 31, 2016
Financial Instruments and Fair Value Measurments
Financial Instruments and Fair Value Measurements	Note 5. Financial instruments and fair value measurements Financial assets and liabilities recorded at fair value in the Condensed Consolidated Balance Sheets are categorized based upon a fair value hierarchy established by U.S. GAAP, which prioritizes the inputs used to measure fair value into the following levels: Level 1: Inputs based on quoted market prices in active markets for identical assets or liabilities at the measurement date. Level 2: Quoted prices included in Level 1, such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable and can be corroborated by observable market data. Level 3: Inputs that reflect management’s best estimates and assumptions of what market participants would use in pricing the asset or liability at the measurement date. The inputs are unobservable in the market and significant to the valuation of the instruments. The table below presents information about Woodward’s financial assets that are measured at fair value on a recurring basis and indicates the fair value hierarchy of the valuation techniques Woodward utilized to determine such fair value. Woodward had no financial liabilities required to be measured at fair value on a recurring basis as of December 3 1 , 2016 or September 30, 201 6 .     At December 31, 2016 At September 30, 2016  Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total  Financial assets:  Cash $ 71,894 $ - $ - $ 71,894 $ 80,959 $ - $ - $ 80,959  Investments in money market funds - - - - 48 - - 48  Investments in reverse repurchase agreements 313 - - 313 83 - - 83  Investments in term deposits with foreign banks 8,678 - - 8,678 7,136 - - 7,136  Equity securities 14,603 - - 14,603 12,491 - - 12,491  Total financial assets $ 95,488 $ - $ - $ 95,488 $ 100,717 $ - $ - $ 100,717  Investments in money market funds: Woodward sometimes invests excess cash in money market funds not insured by the Federal Depository Insurance Corporation (“FDIC”). Woodward believes that the investments in money market funds are on deposit with creditworthy financial institutions and that the funds are highly liquid. The investments in money market funds are reported in “Cash and cash equivalents” at fair value, with realized gains from interest income recognized in earnings . The fair values of Woodward’s investments in money market funds are based on the quoted market prices for the net asset value of the various money market funds. Investments in reverse repurchase agreements: Woodward sometimes invests excess cash in reverse repurchase agreements. Under the terms of Woodward’s reverse repurchase agreements, Woodward purchases an interest in a pool of securities and is granted a security interest in those securities by the counterparty to the reverse repurchase agreement. At an agreed upon date, generally the next business day, the counterparty repurchases Woodward’s interest in the pool of securities at a price equal to what Woodward paid to the counterparty plus a rate of return determined daily per the terms of the reverse repurchase agreement. Woodward believes that the investments in these reverse repurchase agreements are with creditworthy financial institutions and that the funds invested are highly liquid. The investments in reverse repurchase agreements are reported at fair value, with realized gains from interest income recognized in earnings, and are included in “Cash and cash equivalents.” Since the investments are generally overnight, the carrying value is considered to be equal to the fair value as the amount is deemed to be a cash deposit with no risk of change in value as of the end of each fiscal quarter. Investments in term deposits with foreign banks : Woodward ’s foreign subsidiaries sometimes invest excess cash in various highly liquid financial instruments that Woodward believes are wit h creditworthy financial institutions. Such investments are reported in “Cash and cash equivalents” at fair value, with realized gains from inter est income recognized in earnings. The carrying value of Woodward’s investments in term deposits with foreign banks are considered equal to the fair value given the highly liquid nature of the investments . Equity securities: Woodward holds marketable equity securities, through investments in various mutual funds, related to its deferred compensation program. Based on Woodward’s intentions regarding these instruments, marketable equity securities are classified as trading securities. The trading securities are reported at fair value, with realized gains and losses recognized in “Other (income) expense, net.” The trading securities are included in “Other assets.” The fair values of Woodward’s trading securities are based on the quoted market prices for the net asset value of the various mutual funds. Accounts receivable, accounts payable, the current portion of long-term debt, and short-term debt are not remeasured to fair value, as the carrying cost of each approximates its respective fair value. The estimated fair values and carrying costs of other financial instruments that are not required to be remeasured at fair value in the Condensed Consolidated Balance Sheets were as follows:      At December 31, 2016 At September 30, 2016  Fair Value Hierarchy Level Estimated Fair Value Carrying Cost Estimated Fair Value Carrying Cost  Assets:  Notes receivable from municipalities 2 $ 16,201 $ 15,229 $ 17,501 $ 15,849  Investments in short-term time deposits 2 4,065 4,084 4,882 4,918  Liabilities:  Short-term borrowings 2 (150,000) (150,000) (150,000) (150,000)  Long-term debt, excluding current portion 2 $ (590,556) $ (571,852) $ (617,857) $ (579,244)  In fiscal years 2014 and 2013, Woodward received lon g-term notes from municipalities within the state s of Illinois and Colorado in connection with certain economic incentives related to Woodward’s development of a second campus in the greater-Rockford, Illinois area for its Aerospace segment and Woodward’s development of a new campus at its corporate headquarters in Fort Collins, Colorado. The fair value of the long-term notes was estimated based on a model that discounted future principal and interest payments received at an interest rate available to the Company at the end of the period for similarly rated municipal notes of similar maturity, which is a level 2 input as defined by the U.S. GAAP fair value hierarchy. The interest rates used to estimate the fair value of the long-term notes were 2.9 % at December 31, 2016 and 2.2% at September 30, 2016. From time to time, certain of Woodward’s foreign subsidiaries will invest excess cash in short-term time deposits with a fixed maturity date of longer than three months but less than one year from the date of the deposit. Woodward believes that the investments are with creditworthy financial institutions. The fair value of the investments in short-term time deposits was estimated based on a model that discounted future principal and interest payments to be received at an interest rate available to the foreign subsidiary entering into the investment fo r similar short-term time deposits of similar maturity. This is determined to be a level 2 input as defined by the U.S. GAAP fair valu e hierarchy. The interest rate used to estimate the fair value of the short-term time deposits was 6.6% at December 31, 2016 and 6.9 % at September 30, 2016 . The fair value of long-term debt was estimated based on a model that discounted future principal and interest payments at interest rates available to the Company at the end of the period for similar debt of the same maturity, which is a level 2 input as defined by the U.S. GAAP fair value hierarchy. The weighted-average interest rates used to estimate the fair value of long-term debt were 2.4 % at December 31, 2016 and 1.9% at September 30, 2016 .

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	3 Months Ended
	Dec. 31, 2016
Derivative Instruments and Hedging Activities
Derivative Instruments and Hedging Activities	Note 6. Derivative instruments and hedging activities Woodward has exposures related to global market risks, including the effect of changes in interest rates, foreign currency exchange rates, changes in certain commodity prices and fluctuations in various producer indices. From time to time, Woodward enters into derivative instruments for risk management purposes only, including derivatives designated as accounting hedges and/or those utilized as economic hedges. Woodward uses interest rate related derivative instruments to manage its exposure to fluctuations of interest rates. Woodward does not enter into or issue derivatives for trading or speculative purposes. By using derivative and/or hedging instruments to manage its risk exposure, Woodward is subject, from time to time, to credit risk and market risk on those derivative instruments. Credit risk arises from the potential failure of the counterparty to perform under the terms of the derivative and/or hedging instrument. When the fair value of a derivative contract is positive, the counterparty owes Woodward, which creates credit risk for Woodward. Woodward mitigates this credit risk by entering into transactions with only creditworthy counterparties. Market risk arises from the potential adverse effects on the value of derivative and/or hedging instruments that result from a change in interest rates, commodity prices, or foreign currency exchange rates. Woodward minimizes this market risk by establishing and monitoring parameters that limit the types and degree of market risk that may be undertaken. Woodward did not enter into any derivatives or hedging transactions during the three-months ended December 31, 2016. The remaining unrecognized gains and losses in Woodward’s Condensed Consolidated Balance Sheets associated with derivative instruments that were previously entered into by Woodward, which are classified in accumulated other comprehensive ( losses ) earnings (“accumulated OCI”), were net gains of $27 2 as of December 3 1 , 2016 and $290 as of September 30, 2016 . The following table discloses the impact of derivative instruments in cash flow hedging relationships on Woodward’s Condensed Consolidated Statements of Earnings, recognized in interest expense:       Three-Months Ended December 31,  2016 2015  Amount of (income) expense recognized in earnings on derivative $ (18) $ 29  Amount of (gain) loss recognized in accumulated OCI on derivative - -  Amount of (gain) loss reclassified from accumulated OCI into earnings (18) 29  Based on the carrying value of the realized but unrecognized gains on terminated derivative instruments designated as cash flow hedges as of December 3 1 , 2016, Woodward expects to reclassify $ 72 of net unrecognized gains on terminated derivative instruments from accumulated other comprehensive (losses) earnings to earnings during the next twelve months. On September 23, 2016 , Woodward and Woodward International Holding B.V., a wholly owned subsidiary of Woodward organized under the laws of The Netherlands (the “BV Subsidiary”), each entered into a note purchase agreement (the “2016 Note Purchase Agreements”) relating to the sale by Woodward and the BV Subsidiary of an aggregate principal amount of €160,000 of senior unsecured notes in a series of private placement transactions. Woodward issued €40,000 aggregate principal amount of Woodward’s Series M Senior Notes due September 23, 2026. Woodward designated the €40,000 Series M Notes as a hedge of a foreign currency exposure of Woodward’s net investment in its Euro denominated functional currency subsidiaries. A foreign exchange gain on the Series M Notes of $2,814 for the three-months ended December 31, 2016 is included in foreign currency translation adjustments within total comprehensive (losses) earnings. In June 2015, Woodward designated an intercompany loan of 160,000 Renminbi (“ RMB ”) between two wholly owned subsidiaries as a hedge of a foreign currency exposure of the net investment of the borrower in the lender. Unrealized foreign exchange gains on the loan of $862 is included in foreign currency translation adjustments within total comprehensive earnings for the three-months ended December 31, 2015. In June 2016, the intercompany loan was repaid . In July 2016, Woodward designated a new intercompany loan of 160,000 RMB between two wholly owned subsidiaries as a hedge of a foreign currency exposure of the net investment of the borrower in the lender. Unrealized f oreign exchange gains on the loan of $1,016 for the three-months ended December 3 1 , 2016 are included in foreign currency translation adjustments within total comprehensive (losses) earnings.

Supplemental Statements of Cash

Supplemental Statements of Cash Flows Information	3 Months Ended
	Dec. 31, 2016
Supplemental Statements of Cash Flows Information
Supplemental Statements of Cash Flows Information	Note 7. Supplemental statement of cash flows information       Three-Months Ended December 31,  2016 2015  Interest paid, net of amounts capitalized $ 10,317 $ 14,878  Income taxes paid 6,047 3,667  Income tax refunds received 59 913  Non-cash activities:  Purchases of property, plant and equipment on account 6,130 26,666  Common shares issued from treasury to settle employee liabilities 1,767 -  

Inventories

Inventories	3 Months Ended
	Dec. 31, 2016
Inventories
Inventories	Note 8 . Inventories      December 31, September 30,  2016 2016  Raw materials $ 58,064 $ 54,246  Work in progress 111,908 109,756  Component parts (1) 269,456 249,307  Finished goods 54,336 48,374  $ 493,764 $ 461,683 (1) Component parts include items that can be sold separately as finished goods or included in the manufacture of other products.

Property, Plant, and Equipment,

Property, Plant, and Equipment, Net	3 Months Ended
	Dec. 31, 2016
Property, Plant, and Equipment, Net
Property, Plant and Equipment, Net	Note 9. Property, plant, and equipment       December 31, September 30,  2016 2016  Land and land improvements $ 87,294 $ 87,696  Buildings and building improvements 525,710 527,704  Leasehold improvements 14,662 15,213  Machinery and production equipment 481,041 484,315  Computer equipment and software 122,418 117,984  Office furniture and equipment 29,133 29,344  Other 19,121 18,969  Construction in progress 92,516 88,909  1,371,895 1,370,134  Less accumulated depreciation (494,818) (493,784)  Property, plant, and equipment, net $ 877,077 $ 876,350  I ncluded in “Office furniture and equipment” and “Other” is $1,653 at December 31, 2016 and September 30, 2016, of gross a ssets acquired on capital leases, and accumulated depreciation included $425 at December 31, 2016 and $322 at September 30, 2016 of amortization associated with the capital lease assets. In fiscal year 2015, Woodward completed and placed into service a manufacturing and office building on a second campus in the greater-Rockford, Illinois area and has occupied the new facility in anticipation of beginning serial production of new narrow-body product lines beginning in fiscal year 2017 for its Aerospace segment. This campus is intended to support Woodward’s expected growth in its Aerospace segment over the next ten years and beyond, required as a result of Woodward being awarded a substantial number of new system platforms, particularly on narrow-body aircraft. Included in “Construction in progress” are costs of $34,207 at December 3 1 , 201 6 and $26,741 at September 30, 2016 associated with new equipment purchases for the second campus. For the three-months ended December 3 1 , 2016 and 201 5 , Woodward had depreciation expense as follows:     Three-Months Ended  December 31,  2016 2015  Depreciation expense $ 12,455 $ 10,116  F or the three-months ended December 3 1 , 2016 and 201 5 , Woodward capitalized interest that would have otherwise been included in interest expense of the following:     Three-Months Ended  December 31,  2016 2015  Capitalized interest $ 472 $ 1,873  

Goodwill

Goodwill	3 Months Ended
	Dec. 31, 2016
Goodwill Disclosure
Goodwill	Note 1 0 . Goodwill     September 30, 2016 Effects of Foreign Currency Translation December 31, 2016  Aerospace $ 455,423 $ - $ 455,423  Industrial 100,261 (2,384) 97,877  Consolidated $ 555,684 $ (2,384) $ 553,300    Woodward tests goodwill for impairment at the reporting unit level on an annual basis and more often if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. Woodward completed its annual goodwill imp airment test as of July 31, 2016 during the quarter e nded September 30, 2016. Woodward determined it was appropriate to aggregate certain components of the same operating segment into a single reporting unit. The fair value of each of Woodward’s reporting units was determined using a discounted cash flow method. This method represents a level 3 input and incorporates various estimates and assumptions, the most significant being projected revenue growth rates, earnings margins, future tax rates, and the present value, based on an estimated weighted-average cost of capital (or the discount rate) and terminal growth rate, of forecasted cash flows. Management projects revenue growth rates, earnings margins and cash flows based on each reporting unit’s current operational results, expected performance and operational strategies over a ten-year period. These projections are adjusted to reflect current economic conditions and demand for certain products, and require considerable management judgment. Forecasted cash flows used in the July 31, 2016 impairment test were discounted using weighted-average cost of capital assumptions ranging from 8.91% to 11.49% . The terminal values of the forecasted cash flows were calculated using the Gordon Growth Model and assumed an annual compound growth rate after ten years of 3.71% . These inputs, which are unobservable in the market, represent management’s best estimate of what market participants would use in determining the present value of the Company’s forecasted cash flows. Changes in these estimates and assumptions can have a significant impact on the fair value of forecasted cash flows. Woodward evaluated the reasonableness of the reporting units’ resulting fair values utilizing a market multiple method. The results of Woodward’s goodwill impairment tests performed as of July 31, 2016 did not indicate impairment of any of Woodward’s reporting units.

Intangible Assets, Net

Intangible Assets, Net	3 Months Ended
	Dec. 31, 2016
Intangible Assets, Net
Intangible Assets, Net	Note 11 . Intangible assets, net    December 31, 2016 September 30, 2016  Gross Carrying Value Accumulated Amortization Net Carrying Amount Gross Carrying Value Accumulated Amortization Net Carrying Amount  Customer relationships and contracts:  Aerospace $ 282,225 $ (138,408) $ 143,817 $ 282,225 $ (134,158) $ 148,067  Industrial 40,693 (33,530) 7,163 40,969 (33,509) 7,460  Total $ 322,918 $ (171,938) $ 150,980 $ 323,194 $ (167,667) $ 155,527   Intellectual property:  Aerospace $ - $ - $ - $ - $ - $ -  Industrial 19,156 (17,734) 1,422 19,435 (17,876) 1,559  Total $ 19,156 $ (17,734) $ 1,422 $ 19,435 $ (17,876) $ 1,559   Process technology:  Aerospace $ 76,605 $ (44,703) $ 31,902 $ 76,605 $ (43,229) $ 33,376  Industrial 22,596 (16,344) 6,252 22,965 (16,200) 6,765  Total $ 99,201 $ (61,047) $ 38,154 $ 99,570 $ (59,429) $ 40,141   Other intangibles:  Aerospace $ - $ - $ - $ - $ - $ -  Industrial 1,168 (791) 377 1,246 (823) 423  Total $ 1,168 $ (791) $ 377 $ 1,246 $ (823) $ 423   Total intangibles:  Aerospace $ 358,830 $ (183,111) $ 175,719 $ 358,830 $ (177,387) $ 181,443  Industrial 83,613 (68,399) 15,214 84,615 (68,408) 16,207  Consolidated Total $ 442,443 $ (251,510) $ 190,933 $ 443,445 $ (245,795) $ 197,650  For the three-months ended December 31, 2016 and 2015, Woodward recorded amortization expense associated with intangibles of the following:        Three-Months Ended  December 31,  2016 2015  Amortization expense $ 6,458 $ 6,946  Future amortization expense associated with intangibles is expected to be:       Year Ending September 30:  2017 (remaining) $ 19,279  2018 24,907  2019 23,071  2020 20,332  2021 18,393  Thereafter 84,951  $ 190,933  

Credit Facilities, Short-term B

Credit Facilities, Short-term Borrowings and Long-term Debt	3 Months Ended
	Dec. 31, 2016
Debt Disclosure
Credit Facilities, Short-term Borrowings and Long-term Debt	Note 12. Credit facilities, short-term borrowings and long-term debt Revolving credit facility Woodward maintains a $1,000,000 revolving credit facility established under a revolving credit agreement among Woodward, a syndicate of lenders and Wells Fargo Bank, National Association, as administrative agent (the “Revolving Credit Agreement”). The Revolving Credit Agreement provides for the option to increase available borrowings to up to $1,200,000 , subject to lenders’ participation. Borrowings under the Revolving Credit Agreement generally bear interest at LIBOR plus 0.85% to 1.65% . The Revolving Credit Agreement matures in April 2020 . Under the Revolving Credit Agreement, there were $160,550 in principal amount of borrowings outstanding as of December 3 1 , 2016, at an effective interest rate of 1.66% and $156,700 in principal amount of borrowings outstanding as of September 3 0 , 201 6 , at an effective interest rate of 1.77% . As of December 3 1 , 2016, $150,000 of the borrowings under the Revolving Credit Agreement were classified as short-term based on Woodward’s intent and ability to pay this amount in the next twelve months. Short-term borrowings As of December 31, 2016, a Chinese subsidiary of Woodward has a local uncommitted credit facility with the Hong Kong and Shanghai Banking Company under which it has the ability to borrow up to either $ 22,700 , or the local currency equivalent of $22,700 , up to the amount of a parent guarantee from Woodward. The Chinese subsidiary may utilize the local facility for cash borrowings to support its operating cash needs. Local currency borrowings on the Chinese credit facility are charged interest at the prevailing interest rate offered by the People’s Bank of China on the date of borrowing, plus a margin equal to 15% of that prevailing rate . U.S. dollar borrowings on the credit facility are charged interest at the lender’s cost of borrowing rate at the date of borrowing, plus 3% . The Chinese subsidiary had no outstanding cash borrowings against the local credit facility at December 31, 2016 and September 30, 2016. A s of December 31, 2016, the Brazilian s ubsidiary of Woodward had a local uncommitted credit facility with the Banco J.P . Morgan S.A. under which it had the ability to borrow up to 52,000 Brazilian Real. Any cash borrowings under the local Brazilian credit facility are secured by a parent guarantee from Woodward. The Brazilian subsidiary may utilize the local facility to support its operating cash needs. Local currency borrowings on the Brazilian credit facility are charged interest at the lender’s cost of borrowing rate at the date of borrowing, plus 1.75% . On January 5, 2017, the Brazilian subsidiary of Woodward entered into an amendment to the original credit facility to extend the maturity date until July 14, 2017 and decrease the maximum borrowing capacity to 1,000 Brazilian Real. The Brazilian subsidiary had no outstanding cash borrowings against the local credit facility at December 31, 2016 and September 30, 2016. Woodward also has other foreign lines of credit and foreign overdraft facilities at various financial institutions, which are generally reviewed annually for renewal and are subject to the usual terms and conditions applied by the financial institutions. Pursuant to the terms of the related facility agreements, Woodward’s foreign performance guarantee facilities are limited in use to providing performance guarantees to third parties. There were no borrowings outstanding as of December 31, 2016 and September 30, 2016 on Woodward’s other foreign lines of credit and foreign overdraft facilities. Long-term debt    December 31, September 30,  2016 2016  Revolving credit facility - Floating rate (LIBOR plus 0.85% - 1.65% ), due April 2020 , unsecured $ 160,550 $ 156,700  Series D notes – 6.39%, due October 2018; unsecured 100,000 100,000  Series F notes – 8.24%, due April 2019; unsecured 43,000 43,000  Series G notes – 3.42%, due November 2020; unsecured 50,000 50,000  Series H notes – 4.03%, due November 2023; unsecured 25,000 25,000  Series I notes – 4.18%, due November 2025; unsecured 25,000 25,000  Series J notes – Floating rate (LIBOR plus 1.25%), due November 2020; unsecured 50,000 50,000  Series K notes – 4.03%, due November 2023; unsecured 50,000 50,000  Series L notes – 4.18%, due November 2025; unsecured 50,000 50,000  Series M notes – 1.12% due September 2026; unsecured 42,076 44,886  Series N notes – 1.31% due September 2028; unsecured 80,995 86,406  Series O notes – 1.57% due September 2031; unsecured 45,231 48,252  Total debt 721,852 729,244  Less: Current portion of long-term debt (150,000) (150,000)  Unamortized debt issuance costs (1,974) (2,091)  Long-term debt, less current portion $ 569,878 $ 577,153 The Notes In October 2008 , Woodward entered into a note purchase agreement relating to the Series D Notes (the “2008 Notes”). In April 2009 , Woodward entered into a note purchase agreement relating to the Series F Notes (the “2009 Notes”). On October 1, 2013 , Woodward entered into a note purchase agreement relating to the sale by Woodward of an aggregate principal amount of $250,000 of its senior unsecured notes in a series of pr ivate placement transactions. Woodward issued the Series G, H and I Notes (the “First Closing Notes”) on October 1, 2013 . Woodward issued the Series J, K and L Notes (the “Second Closing Notes” , and together with the 2008 Notes, 2009 Notes and the First Closing Notes, the “USD Notes”) on November 15, 2013 . On September 23, 2016 , Woodward and the BV Subsidiary each entered into note purchase agreements relating to the sale by Woodward and the BV Subsidiary of an aggregate principal amount of €160,000 of senior unsecured notes in a series of private placement transactions. Woodward issued €40,000 aggregate principal amount of Woodward’s Series M Senior Notes (the “Series M Notes”). The BV Subsidiary issued (a) €77,000 aggregate principal amount of the BV Subsidiary’s Series N Senior Notes (the “Series N Notes”) and (b) €43,000 aggregate principal amount of the BV Subsidiary’s Series O Senior Notes (the “Series O Notes” and together with the Series M Notes and the Series N Notes, the “2016 Notes”, and together with the USD Notes, collectively, the “Notes”). Interest on the 2008 Notes, the First Closing Notes, and the Series K and L Notes is payable semi-annually on April 1 and October 1 of each year until all principal is paid. Interest on the 2009 Notes is payable semi-annually on April 15 and October 15 of each year until all principal is paid. Interest on the 2016 Notes will be payable semi-annually on March 23 and September 23 of each year, commencing on March 23, 2017, until all principal is paid. Interest on the Series J Notes is payable quarterly on January 1, April 1, July 1 and October 1 of each year until al l principal is paid. As of December 3 1 , 2016, the Series J Notes bore interest at an effective rate of 2.16% . Debt Issuance Costs Unamortized debt issuance costs associated with the Notes of $1,974 as of December 31, 2016 and $2,091 as of September 30, 2016 were recorded as a reduction in “Long-term debt, less current portion” in the Condensed Consolidated Balance Sheets. Unamortized debt issuance costs of $2,915 associated with the Revolving Credit Agreement as of December 31, 2016 and $3,134 as of September 30, 2016 were recorded as “Other assets” in the Condensed Consolidated Balance Sheets. Amortization of debt issuance costs is included in operating activities in the Condensed Consolidated Statements of Cash Flows.

Accrued Liabilities

Accrued Liabilities	3 Months Ended
	Dec. 31, 2016
Accrued Liabilities
Accrued Liabilities	Note 1 3 . Accrued liabilities          December 31, September 30,  2016 2016  Salaries and other member benefits $ 47,677 $ 87,197  Warranties 15,528 15,993  Interest payable 5,789 9,071  Current portion of acquired performance obligations and unfavorable contracts (1) 2,910 2,910  Accrued retirement benefits 2,503 2,505  Current portion of loss reserve on contractual lease commitments 1,840 1,840  Current portion of deferred income from JV formation (Note 4) 6,452 6,552  Deferred revenues 7,577 5,779  Taxes, other than income 9,289 14,580  Other 16,258 10,200  $ 115,823 $ 156,627  (1) In connection with Woodward’s acquisition of GE Aviation Systems LLC’s (the “Seller”) thrust reverser actuation systems business located in Duarte, California (the “Duarte Acquisition”) in fiscal year 2013, Woodward assumed current and long-term performance obligations for contractual commitments that are expected to result in future economic losses. In addition, Woodward assumed current and long-term performance obligations for services to be provided to the Seller and others, partially offset by current and long-term assets related to contractual payments due from the Seller. The current portion of both obligations is included in Accrued liabilities.  Warranties Provisions of Woodward’s sales agreements include product warranties customary to these types of agreements. Accruals are established for specifically identified warranty issues that are probable to result in future costs. Warranty costs are accrued on a non-specific basis whenever past experience indicates a normal and predictable pattern exists. Changes in accrued product warranties were as follows:       Three-Months Ended December 31,  2016 2015  Warranties, beginning of period $ 15,993 $ 13,741  Expense, net of recoveries 1,923 3,236  Reductions for settling warranties (2,032) (3,469)  Foreign currency exchange rate changes (356) (138)  Warranties, end of period $ 15,528 $ 13,370  Loss reserve on contractual lease commitments In connection with the construction of a new production facility in Niles, Illinois, Woodward vacated a leased facility in Skokie, Illinois. During the first quarter of fiscal year 2016 Woodward fully vacated the Skokie facility and therefore recorded a charge of $8,165 to recognize a loss reserve against the estimated remaining contractual lease commitments, less anticipated sublease income. The summary for the activity in the loss reserve during the three -months ended December 3 1 , 2016 is as follows:        Three-Months Ended December 31,  2016 2015  Loss reserve on contractual lease commitments, beginning of period $ 9,242 $ 2,464  Additions - 8,165  Payments (402) -  Loss reserve on contractual lease commitments, end of period $ 8,840 $ 10,629 Other liabilities included $7,000 of accrued loss reserve on contractual lease commitments that are not expected to be settled or paid within twelve months as of December 3 1 , 2016.

Other Liabilities

Other Liabilities	3 Months Ended
	Dec. 31, 2016
Other Liabilities
Other Liabilities	Note 14 . Other liabilities      December 31, September 30,  2016 2016  Net accrued retirement benefits, less amounts recognized within accrued liabilities $ 70,549 $ 70,479  Noncurrent portion of deferred income from JV formation (1) 236,791 238,187  Total unrecognized tax benefits, net of offsetting adjustments (Note 16) 12,541 17,239  Acquired unfavorable contracts (2) 2,859 3,148  Deferred economic incentives (3) 15,685 16,196  Loss reserve on contractual lease commitments (4) 7,000 7,402  Other 13,004 15,573  $ 358,429 $ 368,224   (1) See Note 4, Joint venture for more information on the deferred income from JV formation. (2) In connection with the Duarte business acquisition in fiscal year 2013, Woodward assumed current and long-term performance obligations for contractual commitments that are expected to result in future economic losses. The long-term portion of the acquired unfavorable contracts is included in Other liabilities. (3) Woodward receives certain economic incentives from various state and local authorities related to capital expansion projects. Such amounts are initially recorded as deferred credits and are being recognized as a reduction to pre-tax expense over the economic lives of the related capital expansion projects. (4) See Note 13, Accrued liabilit i es for more information on the loss reserve on contractual lease commitments.

Other (Income) Expense, Net

Other (Income) Expense, Net	3 Months Ended
	Dec. 31, 2016
Other (Income) Expense, Net
Other (Income) Expense, Net	Note 15 . Other (income) expense, net      Three-Months Ended  December 31,  2016 2015  Equity interest in the earnings of the JV (Note 4) $ (684) $ -  Net gain on sales of assets (3,699) (1,602)  Rent income (73) (101)  Net gains on investments in deferred compensation program (24) (304)  Other (108) (2)  $ (4,588) $ (2,009)  

Income Taxes

Income Taxes	3 Months Ended
	Dec. 31, 2016
Income Taxes
Income Taxes	Note 1 6 . Income taxes U.S. GAAP requires that the interim period tax provision be determined as follows: · At the end of each quarter, Woodward estimates the tax that will be provided for the current fiscal year stated as a percentage of estimated “ordinary income.” The term ordinary income refers to earnings from continuing operations before income taxes, excluding significant unusual or infrequently occurring items.  The estimated annual effective rate is applied to the year-to-date ordinary income at the end of each quarter to compute the estimated year-to-date tax applicable to ordinary income. The tax expense or benefit related to ordinary income in each quarter is the difference between the most recent year-to-date and the prior quarter year-to-date computations.  · The tax effects of significant unusual or infrequently occurring items are recognized as discrete items in the interim period in which the events occur. The impact of changes in tax laws or rates on deferred tax amounts, the effects of changes in judgment about beginning of the year valuation allowances, and changes in tax reserves resulting from the finalization of tax audits or reviews are examples of significant unusual or infrequently occurring items that are recognized as discrete items in the interim period in which the event occurs. The determination of the annual effective tax rate is based upon a number of significant estimates and judgments, including the estimated annual pretax income of Woodward in each tax jurisdiction in which it operates, and the development of tax planning strategies during the year. In addition, as a global commercial enterprise, Woodward’s tax expense can be impacted by changes in tax rates or laws, the finalization of tax audits and reviews, changes in the estimate of the amount of undistributed foreign earnings that Woodward considers indefinitely reinvested, and other factors that cannot be predicted with certainty. As such, there can be significant volatility in interim tax provisions. On December 7, 2016, the U.S. Treasury issued regulations under Internal Revenue Code Section 9 87 (“Section 987 Regulations”) which clarify how companies calculate foreign currency translation gains and losses for income tax purposes for branches whose accounting records are kept in a currency other than the currency of the company . The issuance of these Section 987 Regulations had no significant impact on Woodward’s Condensed Consolidated Financial Statements for the three months ended December 31, 2016. The following table sets forth the tax expense and the effective tax rate for Woodward’s earnings before income taxes:     Three-Months Ended  December 31,  2016 2015  Earnings before income taxes $ 47,059 $ 27,956  Income tax expense 511 2,136  Effective tax rate 1.1% 7.6% The decrease in the year-over-year effective tax rate for the three-months ended December 31, 2016 is primarily attributable to the impact in the quarter of the repatriation to the U.S. of certain net foreign profits and losses. The U.S. foreign tax credits available as a result of the repatriation of the foreign net earnings is greater than the U.S. taxes payable on these net foreign earnings. The excess U.S. foreign tax credits are expected to be used to offset U.S. taxes on other foreign source income. The decrease in the year-over-year effective tax rate caused by the repatriated earnings was partially offset by the retroactive benefit of the U.S. research and experimentation credit (“R&E credit”) pursuant to the December 18, 2015 enactment of the Protecting Americans from Tax Hikes (PATH) Act of 2015, which was included in the effective tax rate for the first quarter of fiscal year 2016 but did not repeat in the first quarter of fiscal year 2017. Gross unrecognized tax benefits were $18,579 as of December 31, 2016, and $23,526 as of September 30, 2016. Included in the balance of unrecognized tax benefits were $11,460 as of December 31, 2016 and $11,426 as of September 30, 2016 of tax benefits that, if recognized, would affect the effective tax rate. At this time, Woodward estimates that it is reasonably possible that the liability for unrecognized tax benefits will decrease by as much as $3,373 in the next twelve months due to the completion of reviews by tax authorities , lapses of statutes, and the settlement of tax positions. Woodward accrues for potential interest and penalties related to unrecognized tax benefits and all other interest and penalties related to tax payments in tax expense. Woodward had accrued gross interest and penalties of $1,460 as of December 31, 2016 and $1,273 as of September 30, 2016. Woodward’s tax returns are subject to audits by U.S. federal, state, and foreign tax authorities, and these audits are at various stages of completion at any given time. Reviews of tax matters by authorities and lapses of the applicable statutes of limitations may result in changes to tax expense. Fiscal years remaining open to examination in significant foreign jurisdictions include 2008 and thereafter. Woodward’s fiscal years remaining open to examination in the United States include fiscal years 2013 and thereafter . Woodward is currently under examination by the Internal Revenue Service for fiscal year 2014 . Woodward has concluded U.S. federal income tax examinations through fiscal year 2012. Woodward is generally subject to U.S. state income tax examinations for fiscal years 2012 and the periods thereafter.

Retirement Benefits

Retirement Benefits	3 Months Ended
	Dec. 31, 2016
Retirement Benefits - General
Retirement Benefits	Note 1 7 . Retirement benefits Woodward provides various retirement benefits to eligible members of the Company, including contributions to various defined contribution plans, pension benefits associated with defined benefit plans, postretirement medical benefits and postretirement life insurance benefits. Eligibility requirements and benefit levels vary depending on employee location. Defined contribution plans Most of the Company’s U.S. employees are eligible to participate in the U.S. defined contribution plan. The U.S. defined contribution plan allows employees to defer part of their annual income for income tax purposes into their personal 401(k) accounts. The Company makes matching contributions to eligible employee accounts, which are also deferred for employee personal income tax purposes. Certain foreign employees are also eligible to participate in foreign plans. The amount of expense associated with defined contribution plans was as follows:         Three-Months Ended  December 31,  2016 2015  Company costs $ 7,249 $ 8,004  Defined benefit plans Woodward has defined benefit plans that provide pension benefits for certain retired employees in the United States, the United Kingdom, and Japan. Woodward also provides other postretirement benefits to its employees including postretirement medical benefits and life insurance benefits. Postretirement medical benefits are provided to certain current and retired employees and their covered dependents and beneficiaries in the United States and the United Kingdom. Life insurance benefits are provided to certain retirees in the United States under frozen plans, which are no longer available to current employees. A September 30 measurement date is utilized to value plan assets and obligations for all of Woodward’s defined benefit pension and other postretirement benefit plans. U.S. GAAP requires that, for obligations outstanding as of September 30, 2016, the funded status reported in interim periods shall be the same asset or liability recognized in the previous year end statement of financial position adjusted for (a) subsequent accruals of net periodic benefit cost that exclude the amortization of amounts previously recognized in other comprehensive income (for example, subsequent accruals of service cost, interest cost, and return on plan assets) and (b) contributions to a funded plan or benefit payments. During the third quarter of fiscal year 2016, Woodward opened a lump-sum buy-out window for certain former U.S. employees and/or their dependents eligible to receive postretirement defined benefit pension payments for past employment services to the Company. Eligible pension plan participants may elect to receive a one-time lump-sum payment or an immediate annuity in lieu of future pension benefit payments. Pension benefit payments paid from available pension plan assets under the lump-sum buy-out options were $ 670 during the first quarter of fiscal year 2017. Woodward expects to make no further pension benefit payments under the lump-sum buy-out options. The components of the net periodic retirement pension costs recognized are as follows:     Three-Months Ended December 31,  United States Other Countries Total  2016 2015 2016 2015 2016 2015  Service cost $ 419 $ 674 $ 192 $ 186 $ 611 $ 860  Interest cost 1,439 1,317 296 435 1,735 1,752  Expected return on plan assets (2,632) (2,542) (641) (697) (3,273) (3,239)  Amortization of:  Net actuarial loss 464 323 127 65 591 388  Prior service cost 96 96 - - 96 96  Net periodic retirement pension benefit $ (214) $ (132) $ (26) $ (11) $ (240) $ (143)  Contributions paid $ - $ - $ 365 $ 389 $ 365 $ 389 The components of the net periodic other postretirement benefit costs recognized are as follows:     Three-Months Ended  December 31,  2016 2015  Service cost $ 4 $ 5  Interest cost 311 262  Amortization of:  Net actuarial loss 50 39  Prior service benefit (40) (40)  Net periodic other postretirement cost $ 325 $ 266  Contributions paid $ 615 $ 381 The amount of cash contributions made to these plans in any year is dependent upon a number of factors, including minimum funding requirements in the jurisdictions in which Woodward operates and arrangements made with trustees of certain foreign plans. As a result, the actual funding in fiscal year 2017 may differ from the current estimate. Woodward estimates its remaining cash contributions in fiscal year 2017 will be as follows:      Retirement pension benefits:  United States $ -  United Kingdom 323  Japan -  Other postretirement benefits 3,424     Multiemployer defined benefit plans Woodward operates two multiemployer defined benefit plans for certain employees in the Netherlands and Japan. The amounts of contributions associated with the multiemployer plans were as follows:         Three-Months Ended  December 31,  2016 2015  Company contributions $ 68 $ 130             

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Dec. 31, 2016
Stockholders' Equity and Stock-Based Compensation [Abstract]
Stockholders' Equity	Note 18 . Stockholders’ equity Stock repurchase program In the first quarter of fiscal year 2017, Woodward’s Board of Directors terminated the Company’s prior stock repurchase program and replaced it with a new program for the repurchase of up to $500,000 of Woodward’s outstanding shares of common stock on the open market or in privately negotiated transactions over a three -year period that will end in 2019 (the “2016 Authorization”). Under the 2016 Authorization, i n the first quarter of fiscal year 2017, Woodward purchased 350 shares of its common stock for $24,004 pursuant to a 10b5-1 plan. In the first quarter of fiscal year 2016, Woodward executed a 10b5-1 plan to repurchase up to $125,000 of its common stock for a period that ended on April 20, 2016. During the first quarter of fiscal year 2016, Woodward purchased 624 shares of its common stock for $30,712 pursuant to the 10b5-1 plan under the prior stock repurchase program, which was terminated in November 2016 . Stock -based compensation Provisions governing outstanding stock option awards are included in the 2006 Omnibus Incentive Plan (the “2006 Plan”) and the 2002 Stock Option Plan (the “2002 Plan”). The 2002 Plan provided that no further grants would be made after December 31, 2006. The 2006 Plan, which was approved by Woodward’s stockholders and became effective January 25, 2006, expired in fiscal year 2016. No further grants will be made under either the 2002 Plan or the 2006 Plan. Woodward’s stockholders approved a successor plan to the 2006 Plan (the “2017 Plan”) at the January 25, 2017 Annual Stockholder Meeting. As of September 14, 2016 , the effective date of the 2017 Plan, Board of Directors delegated authority to administer the 2017 Plan to the compensation committee of the board (the “Committee”), including, but not limited to, the power to determine the recipients of awards and the terms of those awards. The Committee approved issuance of options under the 2017 Plan, with an award date of October 3, 2016 conditional and subject to approval of the 2017 Plan by the stockholders. The stock options conditionally awarded under the 2017 Plan were not granted or outstanding for accounting purposes prior to stockholder approval of the 2017 Plan, and as such no stock based compensation expense was recognized on these stock options during the three months ended December 31, 2016. As of December 31, 2016, 773 stock options awards were approved but not granted. Stock options Woodward granted no stock options in the first quarter of fiscal year 2017. Previous stock options granted under the 2006 Plan were granted with an exercise price equal to the market price of Woodward’s stock at the date of grant, a ten - year term, and generally a four -year vesting schedule at a rate of 25 % per year.  The following is a summary of the activity for stock option awards during the three-months ended December 3 1 , 2016:          Three-Months Ended  December 31, 2016  Number of options Weighted-Average Exercise Price per Share  Options, beginning balance 4,944 $ 35.35  Options granted - n/a  Options exercised (139) 34.83  Options forfeited (13) 42.19  Options, ending balance 4,792 35.35 Changes in non-vested stock options during the three-months ended December 3 1 , 2016 were as follows:     Three-Months Ended  December 31, 2016  Number of options Weighted-Average Grant Date Fair Value Per Share  Options outstanding, beginning balance 2,075 $ 14.90  Options granted - n/a  Options vested (758) 15.24  Options forfeited (13) 14.47  Options outstanding, ending balance 1,304 14.70     Information about stock options that have vested, or are expected to vest, and are exercisable at December 31 , 2016 was as follows:      Number Weighted- Average Exercise Price Weighted- Average Remaining Life in Years Aggregate Intrinsic Value  Options outstanding 4,792 $ 35.35 5.9 $ 161,511  Options vested and exercisable 3,488 32.83 5.0 126,348  Options vested and expected to vest 4,719 35.25 5.8 159,525 Restricted Stock In the first quarter of fiscal year 2014, Woodward granted an award of 24 shares of restricted stock to its Chief Executive Officer and President, Thomas A. Gendron. Subject to Mr. Gendron’s continued employment by the Company, 100% of these shares of restricted stock will vest following the end of the Company’s fiscal year 2017 if a specified cumulative earnings per share (“EPS”) target is met or exceeded for fiscal years 2014 through 2017 . If this EPS target is not met, all shares of restricted stock will be forfeited by Mr. Gendron. The shares of restricted stock were awarded to Mr. Gendron pursuant to a form restricted stock agreement approved by Woodward’s Compensation Committee of the Board of Directors. A summary of the activity for restricted stock awards in the three-months ended December 3 1 , 2016 follows:         Three-Months Ended  December 31, 2016  Number Fair Value per Share  Beginning balance 24 $ 39.43  Shares granted - n/a  Shares vested - n/a  Shares forfeited - n/a  Ending balance 24 39.43 Stock-based compensation cost Woodward recognizes stock compensation expense on a straight-line basis over the requisite service period. Pursuant to form stock option agreements used by the Company, the requisite service period can be less than the four-year vesting period based on grantee’s retirement eligibility . As such, the recognition of stock-based compensation expense associated with some stock option grants can be accelerated to a period of less than four years, including immediate recognition of stock-based compensation on the date of grant. At December 31 , 2016, there was approximately $6,820 of total unrecognized compensation cost related to non-vested stock-based compensation arrangements, both stock options and restricted stock awards, granted under the 2002 Plan and the 2006 Plan (for which no further grants will be made under either plan). The pre-vesting forfeiture rates for purposes of determining stock-based compensation cost recognized were estimated to be 0% for members of Woodward’s board of directors and 9% for all others. The remaining unrecognized compensation cost is expected to be recognized over a weighted-average period of approximately 2.1 years.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Dec. 31, 2016
Commitments and Contingencies Disclosure
Commitments and Contingencies	Note 19. Commitments and contingencies Woodward is currently involved in claims, pending or threatened litigation or other legal proceedings, investigations and/or regulatory proceedings arising in the normal course of business, including, among others, those relating to product liability claims, employment matters, worker’s compensation claims, contractual disputes, product warranty claims and alleged violations of various laws and regulations. Woodward accrues for known individual matters where it believes that it is probable the matter will result in a loss when ultimately resolved using estimates of the most likely amount of loss. Legal costs are expensed as incurred and are classified in “Selling, general and administrative expenses” on the Condensed Consolidated Statements of Earnings. Woodward is partially self-insured in the United States for healthcare and worker’s compensation up to predetermined amounts, above which third party insurance applies. Management regularly reviews the probable outcome of these claims and proceedings, the expenses expected to be incurred, the availability and limits of the insurance coverage, and the established accruals for liabilities. While the outcome of pending claims, legal and regulatory proceedings, and investigations cannot be predicted with certainty, management believes that any liabilities that may result from these claims, proceedings and investigations will not have a material effect on Woodward's liquidity, financial condition, or results of operations. In the event of a change in control of Woodward, as defined in change-in-control agreements with its current corporate officers, Woodward may be required to pay termination benefits to such officers. 

Segment Information

Segment Information	3 Months Ended
	Dec. 31, 2016
Segment Information
Segment Information	Note 20 . Segment information Woodward serves the aerospace, industrial and energy 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 costs, 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,  2016 2015  Segment external net sales:  Aerospace $ 266,680 $ 268,599  Industrial 176,214 176,511  Total consolidated net sales $ 442,894 $ 445,110  Segment earnings:  Aerospace $ 46,877 $ 43,486  Industrial 17,998 21,551  Total segment earnings 64,875 65,037  Nonsegment expenses (11,381) (30,620)  Interest expense, net (6,435) (6,461)  Consolidated earnings before income taxes $ 47,059 $ 27,956 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, 2016 September 30, 2016  Segment assets:  Aerospace $ 1,611,306 $ 1,637,522  Industrial 663,886 705,169  Total segment assets 2,275,192 2,342,691  Unallocated corporate property, plant and equipment, net 89,990 89,988  Other unallocated assets 211,033 209,683  Consolidated total assets $ 2,576,215 $ 2,642,362 

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Dec. 31, 2016
Earnings Per Share
Reconciliation of Net Earnings to Net Earnings Per Share Basic and Diluted	   Three-Months Ended  December 31,  2016 2015  Numerator:  Net earnings $ 46,548 $ 25,820  Denominator:  Basic shares outstanding 61,559 63,054  Dilutive effect of stock options and restricted stock 2,112 1,398  Diluted shares outstanding 63,671 64,452  Income per common share:  Basic earnings per share $ 0.76 $ 0.41  Diluted earnings per share $ 0.73 $ 0.40 
Schedule of Treasury Stock Shares Held for Deferred Compensation Included in Basic and Diluted Shares Outstanding	   Three-Months Ended  December 31,  2016 2015  Weighted-average treasury stock shares held for deferred compensation obligations 170 184 

Financial Instruments and Fai30

Financial Instruments and Fair Value Measurements (Tables)	3 Months Ended
	Dec. 31, 2016
Financial Instruments and Fair Value Measurments
Financial Assets that are Measured at Fair Value on a Recurring Basis	   At December 31, 2016 At September 30, 2016  Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total  Financial assets:  Cash $ 71,894 $ - $ - $ 71,894 $ 80,959 $ - $ - $ 80,959  Investments in money market funds - - - - 48 - - 48  Investments in reverse repurchase agreements 313 - - 313 83 - - 83  Investments in term deposits with foreign banks 8,678 - - 8,678 7,136 - - 7,136  Equity securities 14,603 - - 14,603 12,491 - - 12,491  Total financial assets $ 95,488 $ - $ - $ 95,488 $ 100,717 $ - $ - $ 100,717 
Estimated Fair Values of Financial Instruments	   At December 31, 2016 At September 30, 2016  Fair Value Hierarchy Level Estimated Fair Value Carrying Cost Estimated Fair Value Carrying Cost  Assets:  Notes receivable from municipalities 2 $ 16,201 $ 15,229 $ 17,501 $ 15,849  Investments in short-term time deposits 2 4,065 4,084 4,882 4,918  Liabilities:  Short-term borrowings 2 (150,000) (150,000) (150,000) (150,000)  Long-term debt, excluding current portion 2 $ (590,556) $ (571,852) $ (617,857) $ (579,244) 

Derivative Instruments and He31

Derivative Instruments and Hedging Activities (Tables)	3 Months Ended
	Dec. 31, 2016
Derivative Instruments and Hedging Activities
Impact of Derivative Instruments on Earnings	   Three-Months Ended December 31,  2016 2015  Amount of (income) expense recognized in earnings on derivative $ (18) $ 29  Amount of (gain) loss recognized in accumulated OCI on derivative - -  Amount of (gain) loss reclassified from accumulated OCI into earnings (18) 29 

Supplemental Statements of Ca32

Supplemental Statements of Cash Flows Information (Tables)	3 Months Ended
	Dec. 31, 2016
Supplemental Statements of Cash Flows Information
Schedule of Cash Flow Supplemental Disclosures	   Three-Months Ended December 31,  2016 2015  Interest paid, net of amounts capitalized $ 10,317 $ 14,878  Income taxes paid 6,047 3,667  Income tax refunds received 59 913  Non-cash activities:  Purchases of property, plant and equipment on account 6,130 26,666  Common shares issued from treasury to settle employee liabilities 1,767 - 

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Dec. 31, 2016
Inventories
Schedule of Inventories	   December 31, September 30,  2016 2016  Raw materials $ 58,064 $ 54,246  Work in progress 111,908 109,756  Component parts (1) 269,456 249,307  Finished goods 54,336 48,374  $ 493,764 $ 461,683 

Property, Plant, and Equipmen34

Property, Plant, and Equipment, Net (Tables)	3 Months Ended
	Dec. 31, 2016
Property, Plant, and Equipment, Net
Schedule of Property Plant and Equipment, Net	   December 31, September 30,  2016 2016  Land and land improvements $ 87,294 $ 87,696  Buildings and building improvements 525,710 527,704  Leasehold improvements 14,662 15,213  Machinery and production equipment 481,041 484,315  Computer equipment and software 122,418 117,984  Office furniture and equipment 29,133 29,344  Other 19,121 18,969  Construction in progress 92,516 88,909  1,371,895 1,370,134  Less accumulated depreciation (494,818) (493,784)  Property, plant, and equipment, net $ 877,077 $ 876,350 
Schedule of Depreciation Expense	   Three-Months Ended  December 31,  2016 2015  Depreciation expense $ 12,455 $ 10,116 
Schedule of Capitalized Interest	   Three-Months Ended  December 31,  2016 2015  Capitalized interest $ 472 $ 1,873 

Goodwill (Tables)

Goodwill (Tables)	3 Months Ended
	Dec. 31, 2016
Goodwill Disclosure
Schedule of Goodwill	   September 30, 2016 Effects of Foreign Currency Translation December 31, 2016  Aerospace $ 455,423 $ - $ 455,423  Industrial 100,261 (2,384) 97,877  Consolidated $ 555,684 $ (2,384) $ 553,300  

Intangible Assets, Net (Tables)

Intangible Assets, Net (Tables)	3 Months Ended
	Dec. 31, 2016
Intangible Assets, Net
Schedule of Finite-Lived Intangible Assets by Major Class	   December 31, 2016 September 30, 2016  Gross Carrying Value Accumulated Amortization Net Carrying Amount Gross Carrying Value Accumulated Amortization Net Carrying Amount  Customer relationships and contracts:  Aerospace $ 282,225 $ (138,408) $ 143,817 $ 282,225 $ (134,158) $ 148,067  Industrial 40,693 (33,530) 7,163 40,969 (33,509) 7,460  Total $ 322,918 $ (171,938) $ 150,980 $ 323,194 $ (167,667) $ 155,527   Intellectual property:  Aerospace $ - $ - $ - $ - $ - $ -  Industrial 19,156 (17,734) 1,422 19,435 (17,876) 1,559  Total $ 19,156 $ (17,734) $ 1,422 $ 19,435 $ (17,876) $ 1,559   Process technology:  Aerospace $ 76,605 $ (44,703) $ 31,902 $ 76,605 $ (43,229) $ 33,376  Industrial 22,596 (16,344) 6,252 22,965 (16,200) 6,765  Total $ 99,201 $ (61,047) $ 38,154 $ 99,570 $ (59,429) $ 40,141   Other intangibles:  Aerospace $ - $ - $ - $ - $ - $ -  Industrial 1,168 (791) 377 1,246 (823) 423  Total $ 1,168 $ (791) $ 377 $ 1,246 $ (823) $ 423   Total intangibles:  Aerospace $ 358,830 $ (183,111) $ 175,719 $ 358,830 $ (177,387) $ 181,443  Industrial 83,613 (68,399) 15,214 84,615 (68,408) 16,207  Consolidated Total $ 442,443 $ (251,510) $ 190,933 $ 443,445 $ (245,795) $ 197,650 
Schedule of Finite-Lived Intangible Assets Amortization Expense	   Three-Months Ended  December 31,  2016 2015  Amortization expense $ 6,458 $ 6,946 
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	   Year Ending September 30:  2017 (remaining) $ 19,279  2018 24,907  2019 23,071  2020 20,332  2021 18,393  Thereafter 84,951  $ 190,933 

Credit Facilities, Short-term37

Credit Facilities, Short-term Borrowings and Long-term Debt (Tables)	3 Months Ended
	Dec. 31, 2016
Debt Disclosure
Schedule of Long-term Debt	   December 31, September 30,  2016 2016  Revolving credit facility - Floating rate (LIBOR plus 0.85% - 1.65% ), due April 2020 , unsecured $ 160,550 $ 156,700  Series D notes – 6.39%, due October 2018; unsecured 100,000 100,000  Series F notes – 8.24%, due April 2019; unsecured 43,000 43,000  Series G notes – 3.42%, due November 2020; unsecured 50,000 50,000  Series H notes – 4.03%, due November 2023; unsecured 25,000 25,000  Series I notes – 4.18%, due November 2025; unsecured 25,000 25,000  Series J notes – Floating rate (LIBOR plus 1.25%), due November 2020; unsecured 50,000 50,000  Series K notes – 4.03%, due November 2023; unsecured 50,000 50,000  Series L notes – 4.18%, due November 2025; unsecured 50,000 50,000  Series M notes – 1.12% due September 2026; unsecured 42,076 44,886  Series N notes – 1.31% due September 2028; unsecured 80,995 86,406  Series O notes – 1.57% due September 2031; unsecured 45,231 48,252  Total debt 721,852 729,244  Less: Current portion of long-term debt (150,000) (150,000)  Unamortized debt issuance costs (1,974) (2,091)  Long-term debt, less current portion $ 569,878 $ 577,153 

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	3 Months Ended
	Dec. 31, 2016
Accrued Liabilities	   December 31, September 30,  2016 2016  Salaries and other member benefits $ 47,677 $ 87,197  Warranties 15,528 15,993  Interest payable 5,789 9,071  Current portion of acquired performance obligations and unfavorable contracts (1) 2,910 2,910  Accrued retirement benefits 2,503 2,505  Current portion of loss reserve on contractual lease commitments 1,840 1,840  Current portion of deferred income from JV formation (Note 4) 6,452 6,552  Deferred revenues 7,577 5,779  Taxes, other than income 9,289 14,580  Other 16,258 10,200  $ 115,823 $ 156,627 
Warranties	   Three-Months Ended December 31,  2016 2015  Warranties, beginning of period $ 15,993 $ 13,741  Expense, net of recoveries 1,923 3,236  Reductions for settling warranties (2,032) (3,469)  Foreign currency exchange rate changes (356) (138)  Warranties, end of period $ 15,528 $ 13,370 
Loss Reserve On Contractual Lease Commitments [Member]
Loss Reserve Activity	   Three-Months Ended December 31,  2016 2015  Loss reserve on contractual lease commitments, beginning of period $ 9,242 $ 2,464  Additions - 8,165  Payments (402) -  Loss reserve on contractual lease commitments, end of period $ 8,840 $ 10,629 

Other Liabilities (Tables)

Other Liabilities (Tables)	3 Months Ended
	Dec. 31, 2016
Other Liabilities
Schedule of Other Liabilities	   December 31, September 30,  2016 2016  Net accrued retirement benefits, less amounts recognized within accrued liabilities $ 70,549 $ 70,479  Noncurrent portion of deferred income from JV formation (1) 236,791 238,187  Total unrecognized tax benefits, net of offsetting adjustments (Note 16) 12,541 17,239  Acquired unfavorable contracts (2) 2,859 3,148  Deferred economic incentives (3) 15,685 16,196  Loss reserve on contractual lease commitments (4) 7,000 7,402  Other 13,004 15,573  $ 358,429 $ 368,224 

Other (Income) Expense, Net (Ta

Other (Income) Expense, Net (Tables)	3 Months Ended
	Dec. 31, 2016
Other (Income) Expense, Net
Schedule of Other (Income) Expense, Net	   Three-Months Ended  December 31,  2016 2015  Equity interest in the earnings of the JV (Note 4) $ (684) $ -  Net gain on sales of assets (3,699) (1,602)  Rent income (73) (101)  Net gains on investments in deferred compensation program (24) (304)  Other (108) (2)  $ (4,588) $ (2,009) 

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Dec. 31, 2016
Income Taxes
Tax Expense and Effective Tax Rate	   Three-Months Ended  December 31,  2016 2015  Earnings before income taxes $ 47,059 $ 27,956  Income tax expense 511 2,136  Effective tax rate 1.1% 7.6% 

Retirement Benefits (Tables)

Retirement Benefits (Tables)	3 Months Ended
	Dec. 31, 2016
Schedule of Estimated Remaining Cash Contributions	   Retirement pension benefits:  United States $ -  United Kingdom 323  Japan -  Other postretirement benefits 3,424 
Pension Plans, Defined Benefit [Member]
Schedule of Net Periodic Benefit Costs	   Three-Months Ended December 31,  United States Other Countries Total  2016 2015 2016 2015 2016 2015  Service cost $ 419 $ 674 $ 192 $ 186 $ 611 $ 860  Interest cost 1,439 1,317 296 435 1,735 1,752  Expected return on plan assets (2,632) (2,542) (641) (697) (3,273) (3,239)  Amortization of:  Net actuarial loss 464 323 127 65 591 388  Prior service cost 96 96 - - 96 96  Net periodic retirement pension benefit $ (214) $ (132) $ (26) $ (11) $ (240) $ (143)  Contributions paid $ - $ - $ 365 $ 389 $ 365 $ 389 
Multiemployer Plan [Member]
Schedule of Costs of Retirement Plans	   Three-Months Ended  December 31,  2016 2015  Company contributions $ 68 $ 130 
Defined Contribution Plan [Member]
Schedule of Costs of Retirement Plans	   Three-Months Ended  December 31,  2016 2015  Company costs $ 7,249 $ 8,004 
Other Postretirement Benefit Plans, Defined Benefit [Member]
Schedule of Net Periodic Benefit Costs	   Three-Months Ended  December 31,  2016 2015  Service cost $ 4 $ 5  Interest cost 311 262  Amortization of:  Net actuarial loss 50 39  Prior service benefit (40) (40)  Net periodic other postretirement cost $ 325 $ 266  Contributions paid $ 615 $ 381 

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Dec. 31, 2016
Activity for Stock Option Awards	   Three-Months Ended  December 31, 2016  Number of options Weighted-Average Exercise Price per Share  Options, beginning balance 4,944 $ 35.35  Options granted - n/a  Options exercised (139) 34.83  Options forfeited (13) 42.19  Options, ending balance 4,792 35.35 
Stock Options Vested, Or Expected to Vest and Are Exercisable	   Number Weighted- Average Exercise Price Weighted- Average Remaining Life in Years Aggregate Intrinsic Value  Options outstanding 4,792 $ 35.35 5.9 $ 161,511  Options vested and exercisable 3,488 32.83 5.0 126,348  Options vested and expected to vest 4,719 35.25 5.8 159,525 
Changes in Restricted Stock Awards	   Three-Months Ended  December 31, 2016  Number Fair Value per Share  Beginning balance 24 $ 39.43  Shares granted - n/a  Shares vested - n/a  Shares forfeited - n/a  Ending balance 24 39.43 
Stock Options [Member]
Changes in Nonvested Stock Options	   Three-Months Ended  December 31, 2016  Number of options Weighted-Average Grant Date Fair Value Per Share  Options outstanding, beginning balance 2,075 $ 14.90  Options granted - n/a  Options vested (758) 15.24  Options forfeited (13) 14.47  Options outstanding, ending balance 1,304 14.70 

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Dec. 31, 2016
Segment Information
Consolidated Net Sales and Earnings by Segment	   Three-Months Ended  December 31,  2016 2015  Segment external net sales:  Aerospace $ 266,680 $ 268,599  Industrial 176,214 176,511  Total consolidated net sales $ 442,894 $ 445,110  Segment earnings:  Aerospace $ 46,877 $ 43,486  Industrial 17,998 21,551  Total segment earnings 64,875 65,037  Nonsegment expenses (11,381) (30,620)  Interest expense, net (6,435) (6,461)  Consolidated earnings before income taxes $ 47,059 $ 27,956 
Consolidated Total Assets by Segment	   December 31, 2016 September 30, 2016  Segment assets:  Aerospace $ 1,611,306 $ 1,637,522  Industrial 663,886 705,169  Total segment assets 2,275,192 2,342,691  Unallocated corporate property, plant and equipment, net 89,990 89,988  Other unallocated assets 211,033 209,683  Consolidated total assets $ 2,576,215 $ 2,642,362 

Recent Accounting Pronouncement

Recent Accounting Pronouncements (Narrative) (Details) $ in Thousands	12 Months Ended
	Sep. 30, 2016USD ($)
Recent Accounting Pronouncements
Rent expense for all operating leases	$ 7,359
Future minimum rental payments required under operating leases	$ 15,612

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Details) shares in Thousands	15 Months Ended
	Dec. 31, 2016shares
Stock Options [Member]
Options	0

Earnings Per Share (Reconciliat

Earnings Per Share (Reconciliation of Net Earnings to Net Earnings Per Share Basic and Diluted) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Earnings Per Share
Net earnings	$ 46,548	$ 25,820
Basic shares outstanding	61,559	63,054
Dilutive effect of stock options and restricted stock	2,112	1,398
Diluted shares outstanding	63,671	64,452
Basic earnings per share	$ 0.76	$ 0.41
Diluted earnings per share	$ 0.73	$ 0.40

Earnings Per Share (Schedule of

Earnings Per Share (Schedule of Treasury Stock Shares Held for Deferred Compensation Included in Basic and Diluted Shares Outstanding) (Details) - shares shares in Thousands	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Earnings Per Share
Weighted-average treasury stock shares held for deferred compensation obligations	170	184

Joint Ventures (Narrative) (Det

Joint Ventures (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2016	Jan. 04, 2016
Current portion of deferred income recorded in connection with joint venture		$ 6,452			$ 6,552
Noncurrent portion of deferred income recorded in connection with joint venture		236,791			238,187
Income taxes payable		1,374			$ 4,547
Equity interest in earnings of joint venture		684		$ 0
Woodward and General Electric Joint Venture [Member]
Equity Method Investment, Ownership Percentage					50.00%
Cash received from formation of joint venture			$ 250,000
Cash to be received annually from formation of joint venture	$ 4,894
Amount of deferred income recorded in connection with joint venture						$ 250,000
Current portion of deferred income recorded in connection with joint venture		6,452			$ 6,552
Noncurrent portion of deferred income recorded in connection with joint venture		236,791			238,187
Equity interest in earnings of joint venture		684
Cash distributions from joint venture		0
Net investment in joint venture		6,888
Accounts receivable from related party		5,145			5,326
Accounts payable to related party		5,012			$ 3,926
Woodward and General Electric Joint Venture [Member] | Sales [Member]
Amortization of deferred income recognized as an increase to sales		1,496
Sales to related party		15,302
Reduction to sales related to royalties paid to joint venture		$ 5,403

Financial Instruments and Fai50

Financial Instruments and Fair Value Measurements (Narrative) (Details) - USD ($)	3 Months Ended	12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016
Financial liability on recurring basis	$ 0	$ 0
Investments in Short-Term Time Deposits [Member]
Interest rate used to estimate fair value	6.60%	6.90%
Long Term Notes Receivable From Municipalities [Member]
Interest rate used to estimate fair value	2.90%	2.20%
Borrowings [Member]
Interest rate used to estimate fair value	2.40%	1.90%

Financial Instruments and Fai51

Financial Instruments and Fair Value Measurements (Financial Assets that are Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Sep. 30, 2016
Total financial assets	$ 95,488	$ 100,717
Fair Value, Inputs, Level 1 [Member]
Total financial assets	95,488	100,717
Fair Value, Inputs, Level 2 [Member]
Total financial assets	0	0
Fair Value, Inputs, Level 3 [Member]
Total financial assets	0	0
Cash [Member]
Cash and cash equivalents	71,894	80,959
Cash [Member] | Fair Value, Inputs, Level 1 [Member]
Cash and cash equivalents	71,894	80,959
Cash [Member] | Fair Value, Inputs, Level 2 [Member]
Cash and cash equivalents	0	0
Cash [Member] | Fair Value, Inputs, Level 3 [Member]
Cash and cash equivalents	0	0
Investments in Money Market Funds [Member]
Cash and cash equivalents	0	48
Investments in Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member]
Cash and cash equivalents	0	48
Investments in Money Market Funds [Member] | Fair Value, Inputs, Level 2 [Member]
Cash and cash equivalents	0	0
Investments in Money Market Funds [Member] | Fair Value, Inputs, Level 3 [Member]
Cash and cash equivalents	0	0
Investments in Reverse Repurchase Agreements [Member]
Cash and cash equivalents	313	83
Investments in Reverse Repurchase Agreements [Member] | Fair Value, Inputs, Level 1 [Member]
Cash and cash equivalents	313	83
Investments in Reverse Repurchase Agreements [Member] | Fair Value, Inputs, Level 2 [Member]
Cash and cash equivalents	0	0
Investments in Reverse Repurchase Agreements [Member] | Fair Value, Inputs, Level 3 [Member]
Cash and cash equivalents	0	0
Investments in Term Deposits with Foreign Banks [Member]
Cash and cash equivalents	8,678	7,136
Investments in Term Deposits with Foreign Banks [Member] | Fair Value, Inputs, Level 1 [Member]
Cash and cash equivalents	8,678	7,136
Investments in Term Deposits with Foreign Banks [Member] | Fair Value, Inputs, Level 2 [Member]
Cash and cash equivalents	0	0
Investments in Term Deposits with Foreign Banks [Member] | Fair Value, Inputs, Level 3 [Member]
Cash and cash equivalents	0	0
Equity Securities [Member]
Equity securities	14,603	12,491
Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Equity securities	14,603	12,491
Equity Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Equity securities	0	0
Equity Securities [Member] | Fair Value, Inputs, Level 3 [Member]
Equity securities	$ 0	$ 0

Financial Instruments and Fai52

Financial Instruments and Fair Value Measurements (Estimated Fair Values of Financial Instruments) (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Sep. 30, 2016
Notes receivable from municipalities, Carrying Cost	$ 15,229	$ 15,849
Investments in short-term time deposits, Carrying Cost	4,084	4,918
Short-term borrowings, Carrying Cost	(150,000)	(150,000)
Long-term debt, excluding current portion, Carrying Cost	(571,852)	(579,244)
Fair Value, Inputs, Level 2 [Member]
Notes receivable from municipalities, Estimated Fair Value	16,201	17,501
Investments in short-term time deposits, Estimated Fair Value	4,065	4,882
Short-term borrowings, Estimated Fair Value	(150,000)	(150,000)
Long-term debt, excluding current portion, Estimated Fair Value	$ (590,556)	$ (617,857)

Derivative Instruments and He53

Derivative Instruments and Hedging Activities (Narrative) (Details) € in Thousands, ¥ in Thousands, $ in Thousands	3 Months Ended
	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2016CNY (¥)	Dec. 31, 2016EUR (€)	Dec. 31, 2016USD ($)	Sep. 30, 2016USD ($)	Jun. 30, 2016CNY (¥)
Net unrecognized gains on terminated derivative instruments expected to be reclassified to earnings	$ 72
Term of gain or loss recognition in interest expense on terminated derivatives recorded in OCI	12 months
EUR Denominated Loan [Member]
Gain (loss) on foreign currency transaction designated as a hedge of a net investment in a foreign subsidiary	$ 2,814
Intercompany Loan [Member]
Gain (loss) on foreign currency transaction designated as a hedge of a net investment in a foreign subsidiary	1,016	$ 862
Value of Net Investment Hedging Instruments Used | ¥			¥ 160,000				¥ 160,000
Derivatives in Cash Flow Hedging Relationships [Member]
Amount of Gain (Loss) Recognized in Accumulated OCI on Derivative	$ 0	$ 0
Total Accumulated Other Comprehensive (Loss) Earnings [Member]
Unrecognized gains (loss)					$ 272	$ 290
2008 Note Purchase Agreement [Member]
Issuance Date	Oct. 1, 2008
2009 Note Purchase Agreement [Member]
Issuance Date	Apr. 1, 2009
2013 Note Purchase Agreement [Member]
Issuance Date	Oct. 1, 2013
Face Amount					$ 250,000
First Closing Notes [Member]
Issuance Date	Oct. 1, 2013
Second Closing Notes [Member]
Issuance Date	Nov. 15, 2013	Nov. 15, 2013
2016 Note Purchase Agreements [Member]
Issuance Date	Sep. 23, 2016
Face Amount | €				€ 160,000
Series O Notes [Member]
Face Amount | €				43,000
Series N Notes [Member]
Face Amount | €				77,000
Series M Notes [Member]
Value of Net Investment Hedging Instruments Used | €				40,000
Face Amount | €				€ 40,000

Derivative Instruments and He54

Derivative Instruments and Hedging Activities (Impact of Derivative Instruments on Earnings) (Details) - Derivatives in Cash Flow Hedging Relationships [Member] - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Amount of (Income) Expense Recognized in Earnings on Derivative	$ (18)	$ 29
Amount of (Gain) Loss Recognized in Accumulated OCI on Derivative	0	0
Amount of (Gain) Loss Reclassified from Accumulated OCI into Earnings	$ (18)	$ 29

Supplemental Statements of Ca55

Supplemental Statements of Cash Flows Information (Schedule of Cash Flow Supplemental Disclosures) (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Supplemental Statements of Cash Flows Information
Interest paid, net of amounts capitalized	$ 10,317	$ 14,878
Income taxes paid	6,047	3,667
Income tax refunds received	59	913
Purchases of property, plant and equipment on account	6,130	26,666
Common shares issued from treasury stock to settle employee liabilities	$ 1,767	$ 0

Inventories (Schedule of Invent

Inventories (Schedule of Inventories) (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Sep. 30, 2016
Inventories
Raw Materials	$ 58,064	$ 54,246
Work in progress	111,908	109,756
Component Parts	269,456	249,307
Finished Goods	54,336	48,374
Inventory, net	$ 493,764	$ 461,683

Property, Plant, and Equipmen57

Property, Plant, and Equipment, Net (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Sep. 30, 2016
Construction in progress	$ 92,516		$ 88,909
Depreciation expense	12,455	$ 10,116
Second Campus Rockford Illinois [Member]
Construction in progress	34,207		26,741
Office furniture and equipment [Member]
Gross assets acquired on capital leases	1,653
Accumulated depreciation on capital lease assets	$ 425		$ 322

Property, Plant, and Equipmen58

Property, Plant, and Equipment, Net (Property, Plant, and Equipment - Net) (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Sep. 30, 2016
Property, Plant, and Equipment, Net
Land and Land Improvements	$ 87,294		$ 87,696
Buildings and improvements	525,710		527,704
Leasehold improvements	14,662		15,213
Machinery and production equipment	481,041		484,315
Computer equipment and software	122,418		117,984
Office furniture and equipment	29,133		29,344
Other	19,121		18,969
Construction in progress	92,516		88,909
Property, Plant and Equipment, Gross, Total	1,371,895		1,370,134
Less accumulated depreciation	(494,818)		(493,784)
Property, Plant and Equipment, Net, Total	877,077		$ 876,350
Depreciation expense	12,455	$ 10,116
Capitalized interest	$ 472	$ 1,873

Goodwill (Narrative) (Details)

Goodwill (Narrative) (Details)	3 Months Ended
	Dec. 31, 2016
Assumed annual compound growth rate after five or ten years	3.71%
Minimum [Member]
Weighted average cost of capital assumption	8.91%
Maximum [Member]
Weighted average cost of capital assumption	11.49%

Goodwill (Goodwill) (Details)

Goodwill (Goodwill) (Details) $ in Thousands	3 Months Ended
	Dec. 31, 2016USD ($)
Goodwill, Beginning Balance	$ 555,684
Effects of Currency Translation	(2,384)
Goodwill, Ending Balance	553,300
Aerospace [Member]
Goodwill, Beginning Balance	455,423
Effects of Currency Translation	0
Goodwill, Ending Balance	455,423
Industrial [Member]
Goodwill, Beginning Balance	100,261
Effects of Currency Translation	(2,384)
Goodwill, Ending Balance	$ 97,877

Intangible Assets, Net (Schedul

Intangible Assets, Net (Schedule of Finite-Lived Intangible Assets by Major Class) (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Sep. 30, 2016
Gross Carrying Value	$ 442,443		$ 443,445
Accumulated Amortization	(251,510)		(245,795)
Net Carrying Amount	190,933		197,650
Amortization expense	6,458	$ 6,946
Process Technology [Member]
Gross Carrying Value	99,201		99,570
Accumulated Amortization	(61,047)		(59,429)
Net Carrying Amount	38,154		40,141
Customer Relationships [Member]
Gross Carrying Value	322,918		323,194
Accumulated Amortization	(171,938)		(167,667)
Net Carrying Amount	150,980		155,527
Intellectual Property [Member]
Gross Carrying Value	19,156		19,435
Accumulated Amortization	(17,734)		(17,876)
Net Carrying Amount	1,422		1,559
Other Intangibles [Member]
Gross Carrying Value	1,168		1,246
Accumulated Amortization	(791)		(823)
Net Carrying Amount	377		423
Aerospace [Member]
Gross Carrying Value	358,830		358,830
Accumulated Amortization	(183,111)		(177,387)
Net Carrying Amount	175,719		181,443
Aerospace [Member] | Process Technology [Member]
Gross Carrying Value	76,605		76,605
Accumulated Amortization	(44,703)		(43,229)
Net Carrying Amount	31,902		33,376
Aerospace [Member] | Customer Relationships [Member]
Gross Carrying Value	282,225		282,225
Accumulated Amortization	(138,408)		(134,158)
Net Carrying Amount	143,817		148,067
Aerospace [Member] | Intellectual Property [Member]
Gross Carrying Value	0		0
Accumulated Amortization	0		0
Net Carrying Amount	0		0
Aerospace [Member] | Other Intangibles [Member]
Gross Carrying Value	0		0
Accumulated Amortization	0		0
Net Carrying Amount	0		0
Industrial [Member]
Gross Carrying Value	83,613		84,615
Accumulated Amortization	(68,399)		(68,408)
Net Carrying Amount	15,214		16,207
Industrial [Member] | Process Technology [Member]
Gross Carrying Value	22,596		22,965
Accumulated Amortization	(16,344)		(16,200)
Net Carrying Amount	6,252		6,765
Industrial [Member] | Customer Relationships [Member]
Gross Carrying Value	40,693		40,969
Accumulated Amortization	(33,530)		(33,509)
Net Carrying Amount	7,163		7,460
Industrial [Member] | Intellectual Property [Member]
Gross Carrying Value	19,156		19,435
Accumulated Amortization	(17,734)		(17,876)
Net Carrying Amount	1,422		1,559
Industrial [Member] | Other Intangibles [Member]
Gross Carrying Value	1,168		1,246
Accumulated Amortization	(791)		(823)
Net Carrying Amount	$ 377		$ 423

Intangible Assets, Net (Sched62

Intangible Assets, Net (Schedule of Finite-Lived Intangible Assets, Future Amortization Expense) (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Sep. 30, 2016
Intangible Assets, Net
2017 Remaining	$ 19,279
2,018	24,907
2,019	23,071
2,020	20,332
2,021	18,393
Thereafter	84,951
Finite-Lived Intangible Assets, Net, Total	$ 190,933	$ 197,650

Credit Facilities, Short-term63

Credit Facilities, Short-term Borrowings and Long-term Debt (Narrative) (Details) € in Thousands, BRL in Thousands, $ in Thousands	Jan. 23, 2017BRL	Dec. 31, 2016USD ($)	Dec. 31, 2015	Sep. 30, 2016USD ($)	Dec. 31, 2016BRL	Dec. 31, 2016EUR (€)	Dec. 31, 2016USD ($)
Short-term borrowings				$ 150,000			$ 150,000
Balance of unamortized debt issuance costs				$ 2,091			1,974
Other Foreign Short-term Borrowings [Member]
Outstanding borrowings							0
Revolving Credit Agreement [Member]
Maximum borrowing capacity							1,000,000
Option to increase maximum borrowings to this amount							$ 1,200,000
Line of Credit Facility, Expiration Date		Apr. 1, 2020
Variable Rate Basis		LIBOR
Credit facility effective interest rate on outstanding borrowing				1.77%	1.66%	1.66%	1.66%
Outstanding borrowings				$ 156,700			$ 160,550
Current portion of outstanding borrowings		$ 150,000		150,000
Balance of unamortized debt issuance costs, line of credit				3,134			2,915
Chinese Credit Facility [Member]
Maximum borrowing capacity				$ 22,700			22,700
Outstanding borrowings							0
Chinese Credit Facility, RMB Denominated Loan [Member]
Variable Rate Basis		prevailing interest rate offered by the People's Bank of China on the date of borrowing, plus a margin equal to 15% of that prevailing rate		interest at the prevailing interest rate offered by the People's Bank of China on the date of borrowing, plus a margin equal to 15% of that prevailing rate
Chinese Credit Facility, USD Denominated Loan [Member]
Variable Rate Basis		lender's cost of borrowing rate at the date of borrowing, plus 3%		interest at the lender's cost of borrowing rate at the date of borrowing, plus 3%
Brazil Credit Facility BRL Denominated Loan [Member]
Maximum borrowing capacity | BRL	BRL 1,000				BRL 52,000
Line of Credit Facility, Expiration Date	Jul. 14, 2017
Variable Rate Basis				interest at the lender's cost of borrowing rate at the date of borrowing, plus 1.75%
Basis Spread On Variable Rate		1.75%
Outstanding borrowings							0
Minimum [Member] | Revolving Credit Agreement [Member]
Basis Spread On Variable Rate		0.85%
Maximum [Member] | Revolving Credit Agreement [Member]
Basis Spread On Variable Rate		1.65%
The Notes [Member]
Balance of unamortized debt issuance costs				$ 2,091			1,974
2008 Note Purchase Agreement [Member]
Issuance Date		Oct. 1, 2008
2009 Note Purchase Agreement [Member]
Issuance Date		Apr. 1, 2009
2013 Note Purchase Agreement [Member]
Issuance Date		Oct. 1, 2013
Face Amount							$ 250,000
First Closing Notes [Member]
Issuance Date		Oct. 1, 2013
Second Closing Notes [Member]
Issuance Date		Nov. 15, 2013	Nov. 15, 2013
Series J Notes [Member]
Variable interest rate					2.16%	2.16%	2.16%
2016 Note Purchase Agreements [Member]
Issuance Date		Sep. 23, 2016
Face Amount | €						€ 160,000
Series M Notes [Member]
Face Amount | €						40,000
Series N Notes [Member]
Face Amount | €						77,000
Series O Notes [Member]
Face Amount | €						€ 43,000

Long-term Debt (Schedule of Lon

Long-term Debt (Schedule of Long-term Debt) (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016
Total debt	$ 721,852	$ 729,244
Current portion of long-term debt	(150,000)	(150,000)
Unamortized debt issuance costs	(1,974)	(2,091)
Long-term debt, less current portion	$ 569,878	$ 577,153
Series D Notes [Member] | Notes Payable to Banks [Member]
Interest rate	6.39%	6.39%
Maturity date	Oct. 1, 2018	Oct. 1, 2018
Total debt	$ 100,000	$ 100,000
Series F Notes [Member] | Notes Payable to Banks [Member]
Interest rate	8.24%	8.24%
Maturity date	Apr. 3, 2019	Apr. 3, 2019
Total debt	$ 43,000	$ 43,000
Series J Notes [Member]
Variable interest rate	2.16%
Series J Notes [Member] | Notes Payable to Banks [Member]
Basis Spread On Variable Rate	1.25%	1.25%
Maturity date	Nov. 15, 2020	Nov. 15, 2020
Total debt	$ 50,000	$ 50,000
Series G Notes [Member] | Notes Payable to Banks [Member]
Interest rate	3.42%	3.42%
Maturity date	Nov. 15, 2020	Nov. 15, 2020
Total debt	$ 50,000	$ 50,000
Series H Notes [Member] | Notes Payable to Banks [Member]
Interest rate	4.03%	4.03%
Maturity date	Nov. 15, 2023	Nov. 15, 2023
Total debt	$ 25,000	$ 25,000
Series I Notes [Member] | Notes Payable to Banks [Member]
Interest rate	4.18%	4.18%
Maturity date	Nov. 15, 2025	Nov. 15, 2025
Total debt	$ 25,000	$ 25,000
Series K Notes [Member] | Notes Payable to Banks [Member]
Interest rate	4.03%	4.03%
Maturity date	Nov. 15, 2023	Nov. 15, 2023
Total debt	$ 50,000	$ 50,000
Series L Notes [Member] | Notes Payable to Banks [Member]
Interest rate	4.18%	4.18%
Maturity date	Nov. 15, 2025	Nov. 15, 2025
Total debt	$ 50,000	$ 50,000
Series M Notes [Member] | Notes Payable to Banks [Member]
Interest rate	1.12%	1.12%
Maturity date	Sep. 23, 2026	Sep. 23, 2026
Total debt	$ 42,076	$ 44,886
Series N Notes [Member] | Notes Payable to Banks [Member]
Interest rate	1.31%	1.31%
Maturity date	Sep. 23, 2028	Sep. 23, 2028
Total debt	$ 80,995	$ 86,406
Series O Notes [Member] | Notes Payable to Banks [Member]
Interest rate	1.57%	1.57%
Maturity date	Sep. 23, 2031	Sep. 23, 2031
Total debt	$ 45,231	$ 48,252
Revolving Credit Agreement [Member]
Variable Rate Basis	LIBOR
Credit facility effective interest rate on outstanding borrowing	1.66%	1.77%
Revolving Credit Agreement [Member] | Domestic Line Of Credit [Member]
Total debt	$ 160,550	$ 156,700
Revolving Credit Agreement [Member] | Minimum [Member]
Basis Spread On Variable Rate	0.85%
Revolving Credit Agreement [Member] | Maximum [Member]
Basis Spread On Variable Rate	1.65%
Chinese Credit Facility, RMB Denominated Loan [Member]
Variable Rate Basis	prevailing interest rate offered by the People's Bank of China on the date of borrowing, plus a margin equal to 15% of that prevailing rate	interest at the prevailing interest rate offered by the People's Bank of China on the date of borrowing, plus a margin equal to 15% of that prevailing rate
Chinese Credit Facility, USD Denominated Loan [Member]
Variable Rate Basis	lender's cost of borrowing rate at the date of borrowing, plus 3%	interest at the lender's cost of borrowing rate at the date of borrowing, plus 3%

Accrued Liabilities (Narrative)

Accrued Liabilities (Narrative) (Details) - Loss Reserve On Contractual Lease Commitments [Member] - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Sep. 30, 2016
Loss reserve against the estimated remaining contractual lease commitments, less anticipated sublease income	$ 0	$ 8,165
Loss reserve, noncurrent portion	$ 7,000		$ 7,402

Accrued Liabilities (Accrued Li

Accrued Liabilities (Accrued Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Sep. 30, 2016	Dec. 31, 2015	Sep. 30, 2015
Salaries and other member benefits	$ 47,677	$ 87,197
Warranties	15,528	15,993	$ 13,370	$ 13,741
Interest payable	5,789	9,071
Current portion of acquired performance obligations and unfavorable contracts	2,910	2,910
Accrued retirement benefits	2,503	2,505
Current portion of deferred income from JV formation (Note 4)	6,452	6,552
Deferred revenues	7,577	5,779
Taxes, other than income	9,289	14,580
Other	16,258	10,200
Accrued liabilities	115,823	156,627
Loss Reserve On Contractual Lease Commitments [Member]
Current portion of loss reserve	$ 1,840	$ 1,840

Accrued Liabilities (Warranties

Accrued Liabilities (Warranties) (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Accrued Liabilities
Warranties, beginning of period	$ 15,993	$ 13,741
Warranty Expense, net of recoveries	1,923	3,236
Reductions for settling warranties	(2,032)	(3,469)
Foreign currency exchange rate changes	(356)	(138)
Warranties, end of period	$ 15,528	$ 13,370

Accrued Liabilities (Loss Reser

Accrued Liabilities (Loss Reserve Activity) (Details) - Loss Reserve On Contractual Lease Commitments [Member] - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Loss reserve on contractual lease commitments, beginning of period	$ 9,242	$ 2,464
Additions	0	8,165
Payments	(402)	0
Loss reserve on contractual lease commitments, end of period	$ 8,840	$ 10,629

Other Liabilities (Details)

Other Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Sep. 30, 2016
Net accrued retirement benefits, less amounts recognized within accrued liabilities	$ 70,549	$ 70,479
Noncurrent portion of deferred income from JV formation	236,791	238,187
Total unrecognized tax benefits, net of offsetting adjustments	12,541	17,239
Acquired unfavorable contracts	2,859	3,148
Deferred economic incentives	15,685	16,196
Other	13,004	15,573
Other liabilities	358,429	368,224
Loss Reserve On Contractual Lease Commitments [Member]
Loss reserve	$ 7,000	$ 7,402

Other (Income) Expense, Net (De

Other (Income) Expense, Net (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Other (Income) Expense, Net
Equity interest in earnings of the JV (Note 4)	$ (684)	$ 0
Net (gain) loss on sales of assets	(3,699)	(1,602)
Rent income	(73)	(101)
Net (gain) loss on investments in deferred compensation program	(24)	(304)
Other	(108)	(2)
Other (income) expense, net	$ (4,588)	$ (2,009)

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Sep. 30, 2016
Income Taxes
Unrecognized Tax Benefits	$ 18,579	$ 23,526
Estimated decrease in liability for unrecognized tax benefits	3,373
Unrecognized tax benefits that, if recognized, would affect the effective tax rate	11,460	11,426
Accrued interest and penalties	$ 1,460	$ 1,273

Income Taxes (Tax Expense and E

Income Taxes (Tax Expense and Effective Tax Rate) (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Income Taxes
Earnings before income taxes	$ 47,059	$ 27,956
Income tax expense	$ 511	$ 2,136
Effective tax rate	1.10%	7.60%

Retirement Benefits (Narrative)

Retirement Benefits (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Pension Plans, Defined Benefit [Member]
Net periodic retirement (benefit) cost	$ (240)	$ (143)
United States Pension Plans of US Entity, Defined Benefit [Member]
Defined Benefit, Lump Sum Buyout Benefits Paid, Current Year	670
Net periodic retirement (benefit) cost	(214)	(132)
Foreign Pension Plans, Defined Benefit [Member]
Net periodic retirement (benefit) cost	(26)	(11)
Other Postretirement Benefit Plans, Defined Benefit [Member]
Net periodic retirement (benefit) cost	325	$ 266
Scenario, Forecast [Member] | United States Pension Plans of US Entity, Defined Benefit [Member]
Defined Benefit, Lump Sum Buyout Benefits Paid, Expected	$ 0

Retirement Benefits (Schedule o

Retirement Benefits (Schedule of Costs of Retirement Plans) (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Multiemployer Plan [Member]
Company Costs	$ 68	$ 130
Defined Contribution Plan [Member]
Company Costs	$ 7,249	$ 8,004

Retirement Benefits (Schedule75

Retirement Benefits (Schedule of Net Periodic Benefit Costs) (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Pension Plans, Defined Benefit [Member]
Service cost	$ 611	$ 860
Interest cost	1,735	1,752
Expected return on plan assets	(3,273)	(3,239)
Amortization of: Net (gains) losses	591	388
Amortization of: Prior service (benefit) cost	96	96
Net periodic retirement (benefit) cost	(240)	(143)
Contributions paid - pensions	365	389
United States Pension Plans of US Entity, Defined Benefit [Member]
Service cost	419	674
Interest cost	1,439	1,317
Expected return on plan assets	(2,632)	(2,542)
Amortization of: Net (gains) losses	464	323
Amortization of: Prior service (benefit) cost	96	96
Net periodic retirement (benefit) cost	(214)	(132)
Contributions paid - pensions	0	0
Foreign Pension Plans, Defined Benefit [Member]
Service cost	192	186
Interest cost	296	435
Expected return on plan assets	(641)	(697)
Amortization of: Net (gains) losses	127	65
Amortization of: Prior service (benefit) cost	0	0
Net periodic retirement (benefit) cost	(26)	(11)
Contributions paid - pensions	365	389
Other Postretirement Benefit Plans, Defined Benefit [Member]
Service cost	4	5
Interest cost	311	262
Amortization of: Net (gains) losses	50	39
Amortization of: Prior service (benefit) cost	(40)	(40)
Net periodic retirement (benefit) cost	325	266
Contributions paid - other postretirement plans	$ 615	$ 381

Retirement Benefits (Schedule76

Retirement Benefits (Schedule of estimated remaining cash contributions) (Details) $ in Thousands	3 Months Ended
	Dec. 31, 2016USD ($)
United States Pension Plans of US Entity, Defined Benefit [Member]
Estimated future employer contributions in the currect fiscal year	$ 0
United Kingdom Plan, Defined Benefit [Member]
Estimated future employer contributions in the currect fiscal year	323
Japan Plan, Defined Benefit [Member]
Estimated future employer contributions in the currect fiscal year	0
Other Postretirement Benefit Plans, Defined Benefit [Member]
Estimated future employer contributions in the currect fiscal year	$ 3,424

Stockholders' Equity (Narrative

Stockholders' Equity (Narrative) (Details) - USD ($) shares in Thousands, $ in Thousands	Jan. 25, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2013
Payments for repurchases of common stock		$ 24,004	$ 30,712
Total unrecognized compensation cost related to non-vested stock-based compensation arrangements		$ 6,820
Unrecognized compensation cost is expected to be recognized over a weighted-average period		2 years 1 month 6 days
Forfeiture rate, Board of Directors		0.00%
Forfeiture rate, non-Board of Directors		9.00%
Stock Options [Member]
Vested contractual term, in years		10 years
Vesting rate		25.00%
Shares granted, Number of Shares		0
Vesting period, in years		4 years
Restricted Stock Award [Member]
Shares granted, Number of Shares		0
Restricted stock awards granted				24
Vesting period, in years		4 years
Service period for restricted stock award		4 years
2017 Plan [Member]
Stock-based compensation award date		Oct. 3, 2016
Stock-based compensation effective date		Sep. 14, 2016
Stock-based compensation, number of shares awarded, not granted		773
Subsequent Event [Member] | 2017 Plan [Member]
Subsequent event, date	Jan. 25, 2017
2016 Authorization [Member]
Authorized repurchase amount		$ 500,000
Payments for repurchases of common stock		$ 24,004
Repurchase period in years		3 years
Purchases of treasury stock, number of shares		350
10b5-1 Plan [Member]
Authorized repurchase amount			125,000
Payments for repurchases of common stock			$ 30,712
Purchases of treasury stock, number of shares			624

Stockholders' Equity (Activity

Stockholders' Equity (Activity for Stock Option Awards) (Details) shares in Thousands	3 Months Ended
	Dec. 31, 2016$ / sharesshares
Stock-Based Compensation
Number of options, beginning balance	4,944
Weighted Average Exercise Price Per Share, beginning balance | $ / shares	$ 35.35
Options granted, Number of options	0
Options exercised, Number of options	(139)
Options exercised, Weighted Average Exercise Price Per Share | $ / shares	$ 34.83
Options forfeited, Number of options	(13)
Options forfeited, Weighted Average Exercise Price Per Share | $ / shares	$ 42.19
Number of options, ending balance	4,792
Weighted Average Exercise Price Per Share, ending balance | $ / shares	$ 35.35

Stockholders' Equity (Changes i

Stockholders' Equity (Changes in Nonvested Stock Options) (Details) shares in Thousands	3 Months Ended
	Dec. 31, 2016$ / sharesshares
Stock-Based Compensation
Number of Options, beginning balance	2,075
Weighted-Average Grant Date Fair Value Per Share, beginning balance | $ / shares	$ 14.90
Options granted, Number of options	0
Options vested, Number of options	(758)
Options vested, Weighted-Average Grant Date Fair Value Per Share | $ / shares	$ 15.24
Options forfeited, Number of options	(13)
Options forfeited, Weighted-Average Grant Date Fair Value Per Share | $ / shares	$ 14.47
Number of Options, ending balance	1,304
Weighted-Average Grant Date Fair Value Per Share, ending balance | $ / shares	$ 14.70

Stockholders' Equity (Stock Opt

Stockholders' Equity (Stock Options Vested, Or Expected to Vest and Are Exercisable) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Dec. 31, 2016	Sep. 30, 2016
Stock-Based Compensation
Options outstanding, Number of options	4,792	4,944
Options outstanding, Weighted-Average Exercise Price	$ 35.35	$ 35.35
Options outstanding, Weighted-Average Remaining Life in Years	5 years 10 months 24 days
Options outstanding, Aggregate Intrinsic Value	$ 161,511
Options vested and exercisable, Number of options	3,488
Options vested and exercisable, Weighted-Average Exercise Price Per Share	$ 32.83
Options vested and exercisable, Weighted-Average Remaining Life in Years	5 years
Options vested and exercisable, Aggregate Intrinsic Value	$ 126,348
Options vested and expected to vest, Number of options	4,719
Options vested and expected to vest, Weighted-Average Exercise Price Per Share	$ 35.25
Options vested and to expected vest, Weighted-Average Remaining Life in Years	5 years 9 months 18 days
Options vested and expected to vest, Aggregate Intrinsic Value	$ 159,525

Stockholders' Equity (Changes81

Stockholders' Equity (Changes in Restricted Stock Awards) (Details) shares in Thousands	3 Months Ended
	Dec. 31, 2016$ / sharesshares
Stock Options [Member]
Shares granted, Number of Shares	0
Restricted Stock Award [Member]
Number of shares, beginning balance	24
Weighted-Average Grant Date Fair Value Per Share, beginning balance | $ / shares	$ 39.43
Shares granted, Number of Shares	0
Shares vested, Number of Shares	0
Shares forfeited, Number of Shares	0
Number of shares, ending balance	24
Weighted-Average Grant Date Fair Value Per Share, ending balance | $ / shares	$ 39.43

Segment Information (Narrative)

Segment Information (Narrative) (Details)	3 Months Ended
	Dec. 31, 2016segment
Segment Information
Number of Reportable Segments	2

Segment Information (Consolidat

Segment Information (Consolidated Net Sales and Earnings by Segment) (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Net sales	$ 442,894	$ 445,110
Interest expense, net	(6,435)	(6,461)
Consolidated earnings before income taxes	47,059	27,956
Aerospace [Member]
Net sales	266,680	268,599
Segment earnings (loss)	46,877	43,486
Industrial [Member]
Net sales	176,214	176,511
Segment earnings (loss)	17,998	21,551
Total of Reporting Segments [Member]
Segment earnings (loss)	64,875	65,037
Unallocated Corporate [Member]
Segment earnings (loss)	$ (11,381)	$ (30,620)

Segment Information (Consolid84

Segment Information (Consolidated Total Assets by Segment) (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Sep. 30, 2016
Assets	$ 2,576,215	$ 2,642,362
Other unallocated assets	211,033	209,683
Property, plant and equipment, net	877,077	876,350
Aerospace [Member]
Assets	1,611,306	1,637,522
Industrial [Member]
Assets	663,886	705,169
Total of Reporting Segments [Member]
Assets	2,275,192	2,342,691
Unallocated Corporate [Member]
Property, plant and equipment, net	$ 89,990	$ 89,988