Woodward (WWD) 10-Q 25 Apr 18 2018 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Mar. 31, 2018	Apr. 20, 2018
Document and Entity Information
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2
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		61,519,613

Consolidated Statements of Earn

Consolidated Statements of Earnings - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017
Consolidated Statements of Earnings
Net sales	$ 548,249	$ 500,381	$ 1,018,397	$ 943,275
Costs and expenses:
Cost of goods sold	401,331	367,099	748,115	696,247
Selling, general and administrative expenses	39,486	47,660	85,762	85,960
Research and development costs	37,169	30,385	71,955	56,925
Restructuring Charges	17,013	0	17,013	0
Interest expense	6,687	6,790	13,437	13,630
Interest income	(471)	(474)	(834)	(879)
Other (income) expense, net (Note 16)	(1,613)	(1,315)	(3,185)	(5,903)
Total costs and expenses	499,602	450,145	932,263	845,980
Earnings before income taxes	48,647	50,236	86,134	97,295
Income tax expense	10,158	12,131	29,385	12,642
Net earnings	$ 38,489	$ 38,105	$ 56,749	$ 84,653
Earnings per share (Note 3):
Basic earnings per share	$ 0.63	$ 0.62	$ 0.93	$ 1.38
Diluted earnings per share	$ 0.60	$ 0.60	$ 0.89	$ 1.33
Weighted Average Common Shares Outstanding (Note 3):
Basic	61,401	61,310	61,323	61,436
Diluted	63,750	63,499	63,730	63,593
Cash dividends per share paid to Woodward common stockholders	$ 0.1425	$ 0.1250	$ 0.2675	$ 0.2350

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Earnings - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017
Comprehensive earnings
Net earnings	$ 38,489	$ 38,105	$ 56,749	$ 84,653
Other comprehensive earnings:
Foreign currency translation adjustments	9,584	7,741	14,687	(10,894)
Net gain (loss) on foreign currency transactions designated as hedges of net investments in a foreign subsidiaries	(1,268)	(945)	(2,011)	2,885
Taxes on changes in foreign currency translation adjustments	(450)	(180)	(263)	(486)
Foreign currency translation and transactions adjustments, net of tax	7,866	6,616	12,413	(8,495)
Reclassification of net realized (gains) losses on derivatives to earnings	(18)	(18)	(36)	(36)
Taxes on changes in derivative transactions	6	7	13	14
Derivative adjustments, net of tax	(12)	(11)	(23)	(22)
Minimum retirement benefit liability adjustments:
Loss (gain) due to settlement or curtailment arising during the period	0	0	59	0
Amortization of net prior service cost (benefit)	139	57	276	113
Amortization of net loss	248	640	494	1,281
Foreign currency exchange rate changes on pension and other postretirement benefit plan liabilities	(583)	(312)	(682)	943
Taxes on changes in pension and other postretirement benefit plan liability, net of foreign currency exchange rate changes	60	(152)	(72)	(845)
Pension and other postretirement benefit plan adjustments, net of tax	(136)	233	75	1,492
Total comprehensive earnings	$ 46,207	$ 44,943	$ 69,214	$ 77,628

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2018	Sep. 30, 2017
Current assets:
Cash and cash equivalents	$ 100,147	$ 87,552
Accounts receivable, less allowance for uncollectible amounts of $3,675 and $3,776, respectively	365,351	402,182
Inventories	508,971	473,505
Income taxes receivable	24,269	19,376
Other current assets	30,512	38,574
Total current assets	1,029,250	1,021,189
Property, plant and equipment, net	943,433	922,043
Goodwill	557,981	556,545
Intangible assets, net	159,448	171,882
Deferred income tax assets	20,705	19,950
Other assets	74,934	65,500
Total assets	2,785,751	2,757,109
Current liabilities:
Short-term borrowings and current portion of long-term debt	41,930	32,600
Accounts payable	195,917	232,788
Income taxes payable	2,691	6,774
Accrued liabilities	111,442	155,072
Total current liabilities	351,980	427,234
Long-term debt, less current portion	588,461	580,286
Deferred income tax liabilities	22,254	33,408
Other liabilities	366,146	344,798
Total liabilities	1,328,841	1,385,726
Commitments and contingencies (Note 20)
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	185,598	163,836
Accumulated other comprehensive losses	(40,721)	(53,186)
Deferred compensation	8,222	7,135
Retained earnings	1,860,595	1,820,268
Stockholders' equity excluding treasury stock	2,013,800	1,938,159
Treasury stock at cost, 11,440 shares and 11,739 shares, respectively	(548,668)	(559,641)
Treasury stock held for deferred compensation, at cost, 200 shares and 186 shares, respectively	(8,222)	(7,135)
Total Stockholders' Equity	1,456,910	1,371,383
Total liabilities and stockholders' equity	$ 2,785,751	$ 2,757,109

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Mar. 31, 2018	Sep. 30, 2017
Current assets:
Allowance, accounts receivable	$ 3,675	$ 3,776
Stockholders' equity:
Preferred stock, par value	$ 0.003	$ 0.003
Preferred stock, shares authorized	10,000	10,000
Preferred stock, shares issued	0	0
Common stock, par value	$ 0.001455	$ 0.001455
Common stock, shares authorized	150,000	150,000
Common stock, shares issued	72,960	72,960
Treasury stock, shares	11,440	11,739
Treasury stock held for deferred compensation, shares	200	186

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash flows from operating activities:
Net earnings	$ 56,749	$ 84,653
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	43,082	39,007
Loss (gain) due to settlements or curtailments of postretirement plan	(330)	0
Net (gain) loss on sales of assets	(454)	(3,662)
Stock-based compensation	14,434	13,763
Deferred income taxes	(11,686)	4,589
(Gain) loss on derivatives reclassified from accumulated comprehensive earnings into earnings	(36)	(36)
Changes in operating assets and liabilities:
Accounts receivable	42,391	61,324
Inventories	(32,346)	(48,022)
Accounts payable and accrued liabilities	(63,673)	(23,834)
Income taxes	14,836	3,339
Retirement benefit obligations	(2,712)	(1,715)
Other	(3,537)	588
Net cash provided by operating activities	56,718	129,994
Cash flows from investing activities:
Payments for purchase of property, plant and equipment	(58,478)	(43,053)
Proceeds from sale of assets	1,198	3,682
Proceeds from sales of short-term investments	8,970	4,994
Payments for purchases of short-term investments	(808)	0
Net cash used in investing activities	(49,118)	(34,377)
Cash flows from financing activities:
Cash dividends paid	(16,422)	(14,415)
Proceeds from sales of treasury stock	3,560	11,223
Payments for repurchases of common stock	0	(61,782)
Borrowings on revolving lines of credit and short-term borrowings	809,680	684,200
Payments on revolving lines of credit and short-term borrowings	(800,350)	(706,600)
Payments of long-term debt and capital lease obligations	(210)	(204)
Net cash used in financing activities	(3,742)	(87,578)
Effect of exchange rate changes on cash and cash equivalents	8,737	(10,176)
Net change in cash and cash equivalents	12,595	(2,137)
Cash and cash equivalents at beginning of year	87,552	81,090
Cash and cash equivalents at end of period	$ 100,147	$ 78,953

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ 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, 2016	$ 1,212,595		$ 106	$ 141,570	$ (65,705)	$ (25,971)	$ 179	$ (39,913)	$ 5,089	$ 1,649,506	$ (512,882)	$ (5,089)
Balance, Preferred Stock, shares at Sep. 30, 2016		0
Balance, Common Stock, shares at Sep. 30, 2016			72,960
Balance, Treasury Stock, shares at Sep. 30, 2016											(11,374)
Balance, Treasury stock held for deferred compensation, Shares at Sep. 30, 2016												(157)
Net earnings	84,653									84,653			$ 84,653
Other comprehensive income (loss), net of tax	(7,025)				(7,025)	(8,495)	(22)	1,492
Cash dividends paid	(14,415)									(14,415)
Purchases of treasury stock	(63,255)										$ (63,255)
Purchases of treasury stock, shares											(915)
Sales of treasury stock	12,695			(2,015)							$ 14,710
Sales of treasury stock, shares											376
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	(26)
Common shares issued from treasury stock for benefit plans	14,014			6,501							$ 7,513		$ 14,014
Common shares issued from treasury stock for benefit plans, shares											199		199
Stock-based compensation	13,763			13,763
Distribution of stock from deferred compensation plan									(7)			$ 7
Balances at Mar. 31, 2017	1,254,792		$ 106	160,559	(72,730)	(34,466)	157	(38,421)	7,060	1,719,744	$ (552,887)	$ (7,060)
Balance, Preferred Stock, shares at Mar. 31, 2017		0
Balance, Common Stock, shares at Mar. 31, 2017			72,960
Balance, Treasury Stock, shares at Mar. 31, 2017											(11,688)
Balance, Treasury stock held for deferred compensation, Shares at Mar. 31, 2017												(186)
Balances at Sep. 30, 2017	1,371,383		$ 106	163,836	(53,186)	(27,280)	135	(26,041)	7,135	1,820,268	$ (559,641)	$ (7,135)	$ 1,371,383
Balance, Preferred Stock, shares at Sep. 30, 2017		0											0
Balance, Common Stock, shares at Sep. 30, 2017			72,960										72,960
Balance, Treasury Stock, shares at Sep. 30, 2017											(11,739)		(11,739)
Balance, Treasury stock held for deferred compensation, Shares at Sep. 30, 2017												(186)	(186)
Net earnings	56,749									56,749			$ 56,749
Other comprehensive income (loss), net of tax	12,465				12,465	12,413	(23)	75
Cash dividends paid	(16,422)									(16,422)
Sales of treasury stock	3,560			171							$ 3,389
Sales of treasury stock, shares											97
Common shares issued from treasury stock to settle employee liabilities													0
Common shares issued from treasury stock for benefit plans	14,741			7,157							$ 7,584		$ 14,741
Common shares issued from treasury stock for benefit plans, shares											202		202
Stock-based compensation	14,434			14,434
Purchases of stock by deferred compensation plan									1,093			$ (1,093)
Purchases of stock by deferred compensation plan, shares												(14)
Distribution of stock from deferred compensation plan									(6)			$ 6
Balances at Mar. 31, 2018	$ 1,456,910		$ 106	$ 185,598	$ (40,721)	$ (14,867)	$ 112	$ (25,966)	$ 8,222	$ 1,860,595	$ (548,668)	$ (8,222)	$ 1,456,910
Balance, Preferred Stock, shares at Mar. 31, 2018		0											0
Balance, Common Stock, shares at Mar. 31, 2018			72,960										72,960
Balance, Treasury Stock, shares at Mar. 31, 2018											(11,440)		(11,440)
Balance, Treasury stock held for deferred compensation, Shares at Mar. 31, 2018												(200)	(200)

Consolidated Statement of Stock

Consolidated Statement of Stockholders' Equity (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017
Stockholders Equity [Abstract]
Common Stock, Dividends, Per Share, Cash Paid	$ 0.1425	$ 0.1250	$ 0.2675	$ 0.2350

Basis of Presentation

Basis of Presentation	6 Months Ended
	Mar. 31, 2018
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 March 31, 2018 and for the three and six-months ended March 31, 2018 and March 3 1 , 2017 , 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 March 31, 2018 , 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 and six- months ended March 31, 2018 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. As disclosed in Note 1, Operations and summary of significant accounting policies in the Notes to the Consolidated Financial Statements in Part II, Item 8 of Woodward’s most recent Annual Report on Form 10-K, the amortization of intangible assets has been reclassified from a separate line in the Condensed Consolidated Statement of Earnings for the three and six-months ended March 31, 2017 to an allocated expense/cost component of cost of goods sold and selling, general and administrative expenses based on the nature of the intangible asset that is being amortized. The reclassification of these amounts conforms to the current period presentation.

New Accounting Standards

New Accounting Standards	6 Months Ended
	Mar. 31, 2018
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”). I n March 2018, the FASB issued ASU 2018-05, “Amendments to SEC Paragraphs Pursuant to SEC Staff Acc ounting Bulletin No. 118.” ASU 2018-05 formally amended ASC Topic 740, Income Taxes (“ASC 740”) for the guidance previously provided by SEC Staff Accounting Bulletin 118 (“SAB 118”). SAB 118 expressed views of the SEC regarding ASC 740 in the reporting period that includes the enactment date of H.R.1, “An Act to Provide for Reconciliation Pursuant to Titles II and V of the Concurrent Resolution on the Budget for Fiscal Year 2018” (the “Tax Act”) (previously known as “The Tax Cuts and Jobs Act”) . The Company adopted SAB 118 in the first quarter of fiscal year 2018 and therefore, the Company’s subsequent adoption of ASU 2018-05 in the second quarter of fiscal year 2018 had no impact on its accounting for income taxes in the second quarter or first half of fiscal year 2018. In February 2018, the FASB issued ASU 2018-02, “Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income.” ASU 2018-02 allows a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the enactment of tax reform under the Tax Act and provides guidance on the disclosure requirements regarding the stranded tax effects. The amendments in ASU 2018-02 are effective for all entities for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption is permitted. The amendments in ASU 2018-02 should be applied retrospectively in the period of adoption to all periods in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Act is recognized. Woodward is currently assessing the impact of the adoption of the new guidance. When adopted, if Woodward elects to reclassify under ASU 2018-02, a portion of accumulated other comprehensive earnings would be reclassified to retained earnings. In August 2017, the FASB issued ASU 2017-12, “Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities.” ASU 2017-12 is intended to more closely align the financial statement reporting of hedging relationships with the economic results of an entity’s risk management activities and to make certain targeted improvements to simplify the application of hedge accounting guidance in current U.S. GAAP. ASU 2017-12 is also intended to increase standardization of financial statement disclosures including requiring a tabular disclosure of the income statement effects of fair value and cash flow hedges. Woodward early a dopt ed the new guidance in the first quarter of fiscal year 2018 . T he application of the new guidance did not have any impact on Woodward’s current hedging arrangements or on the disclosures related to such arrangements . In March 2017, the FASB issued ASU 2017-07, “Compensation – Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost.” ASU 2017-07 requires that the service cost component of net periodic benefit costs from defined benefit and other postretirement benefit plans be included in the same statement of e arnings captions as other compensation costs arising from services rendered by the covered employees during the period. The other components of net benefit cost will be presented in the statement of e arnings separately from service costs. ASU 2017-07 is effective for fiscal years beginning after December 31, 2017 (fiscal year 2019 for Woodward). Following adoption, only service costs will be eligible for capitalization into manufactured inventories, which should reduce diversity in practice. The amendments of ASU 2017-07 should be applied retrospectively for the presentation of the service cost component and the other components of net periodic benefit costs from defined benefit and other postretirement benefit plans in the statement of earnings and prospectively, on and after the effective date, for the capitalization of the service cost component into manufactured inventories. Early adoption is permitted as of the beginning of Woodward’s fiscal year 2018. Woodward will adopt the new guidance in fiscal year 2019, and expects changes to earnings before income taxes to be insignificant in the year of adoption. 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 wit hin the year of adoption. Early adoption is permitted as of the beginning of Woodward’s fiscal year 2018. Woodward will adopt the new guidance in fiscal year 2019 . Modified retrospective adoption is required with any cumulative-effect adjustment recorded to retained earnings as of the beginning of the period of adoption. Woodward has not determined in which period it will adopt the new guidance. Woodward c urrently anticipates the adoption of ASU 2016-16 will result in balance sheet reclassifications, but based on Woodward’s current transactional activity, such adjustments are not expected to be significant. In June 2016, the FASB issued ASU 2016-13, “Measurement of Credit Losses 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. Modified retrospective adoption is required with any cumulative-effect adjustment recorded to retained earnings as of the beginning of the period of adoption. 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. In addition, ASU 2016-02 modifies the definition of a lease to clarify that an arrangement contains a lease when such arrangement conveys the right to control the use of an identified asset. 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. However, during December 2017, the FASB proposed amending ASU 2016-02 such that restatem ent of fiscal years 2018 and 201 9 would not be required upon adoption . Although early adoption is permitted, Woodward expects to adopt the new guidance in fiscal year 2020 and is currently assessing the impact this guidance may have on its Consolidated Financial Statements, including which of its existing lease arrangements will be impacted by the new guidance and whether other arrangements not currently classified as leases may become subject to the guidance of ASU 2016-02 . Rent expense for all operating leases in fiscal year 2017, none of which was recognized on the balance sheet, was $8,302 . As of September 30, 2017, future minimum rental payments required under operating leases, none of which were recognized on the balance sheet, were $23,215 . 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 customer 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, which 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 periods within the reporting period. Woodward has determined it will elect to adopt using the c umulative effect transition method with the cumulative effect of initial adoption recognized at the date of initial application. Further, under the cumulative effect transition method, Woodward will disclose the impact of changes to financial statement line items as a result of applying ASC 606 (rather than previous U.S. GAAP) and include an explanation of the reasons for significant changes. 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. Woodward is also performing a comprehensive review of its current processes and systems to determine and implement changes required to support the adoption of ASC 606 on October 1, 2018, the first day of Woodward’s fiscal year 2019. As part of this review process, Woodward is implementing new software solutions to support revenue reporting after adoption. Based on Woodward’s review of its customer contracts, Woodward has determined 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 revenues from sales of products and services to customers will be recognized over time, rather than at a point in time, due primarily to the terms of certain customer contracts. As a result of recognizing some revenue over time, various balance sheet line items will be impacted. As such, Woodward believes the adoption of ASC 606 will have an impact on both the timing of revenue recognition and various line items within the Consolidated Balance Sheet. Woodward generally expenses costs as incurred for the engineering and development of new products. Customer funding received for such engineering and development efforts is currently recognized as revenue when earned, with the corresponding costs recognized as cost of sales. ASC 606 requires customer funding of product engineering and development to be deferred and recognized as revenue as the related products are delivered to the customer. ASC 606 also requires product engineering and development costs to be capitalized as contract fulfillment costs, to the extent recoverable from the deferred customer funding, and subsequently amortized as the related products are delivered to the customer. Therefore, under ASC 606, Woodward expects to record both contract assets and contract liabilities related to such funded engineering and development efforts, which are expected to become material over time. Recognized revenues and research and development costs are both expected to decrease in the year of adoption and for at least several years thereafter, due to the recognition of these contract assets and liabilities. However, recognition of these contract assets and liabilities are expected to have an immaterial impact on pre-tax earnings in future periods. In addition, ASC 606 will require more comprehensive disclosures about revenue streams and contracts with customers, including significant judgments required. Woodward is currently implementing changes to its processes for preparing required disclosures and to information systems that support the financial reporting process. Woodward is also evaluating implications to the Company’s system of internal controls, relative to revenue recognition and the related revenue disclosures, which are based on the criteria outlined in the Committee of Sponsoring Organizations of the Treadway Commission’s 2013 Internal Control – Integrated Framework.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Mar. 31, 2018
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 Six-Months Ended  March 31, March 31,  2018 2017 2018 2017  Numerator:  Net earnings $ 38,489 $ 38,105 $ 56,749 $ 84,653  Denominator:  Basic shares outstanding 61,401 61,310 61,323 61,436  Dilutive effect of stock options and restricted stock 2,349 2,189 2,407 2,157  Diluted shares outstanding 63,750 63,499 63,730 63,593  Income per common share:  Basic earnings per share $ 0.63 $ 0.62 $ 0.93 $ 1.38  Diluted earnings per share $ 0.60 $ 0.60 $ 0.89 $ 1.33 The following stock option grants were outstanding during the three and six -months ended March 31, 2018 and 2017 , but were excluded from the computation of diluted earnings per share because their inclusion would have been anti-dilutive.     Three-Months Ended Six-Months Ended  March 31, March 31,  2018 2017 2018 2017  Options 764 67 759 2  Weighted-average option price $ 78.73 $ 62.98 $ 78.74 $ 70.39 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 Six-Months Ended  March 31, March 31,  2018 2017 2018 2017  Weighted-average treasury stock shares held for deferred compensation obligations 200 185 195 175 

Joint Venture

Joint Venture	6 Months Ended
	Mar. 31, 2018
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”) to design, develop and source fuel systems 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 had 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 , which began on January 4, 2017 , subject to certain claw-back conditions. D uring the three-months ended March 31, 2018 , Woodward received its second annual payment of $4,894 , which was recorded as deferred income and included in Net cash provided by operating activities under the caption “Other” on the Condensed Consolidated Statement of Cash Flows . 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 as deferred income the $250,000 consideration receive d from GE in January of 2016 for its purchase of a 50% equity inter est in the JV . 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 recorded in connection with the JV formation included accrued liabilities of $6,427 as of March 31, 2018 and $6,451 as of September 30, 2017 , and other liabilities of $239,275 as of March 31, 2018 and $236,896 as of September 30, 2017. Amortization of the deferred income recognized as an increase to sales was $1,486 for the three-months and $2,539 for the six-months ended March 31, 2018 , and $1,632 for the three -months and $3,128 for the six-months ended March 3 1 , 2017 . 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 income of $1,006 for the three-months and $1,602 for the six-months ended March 31, 2018 , and income of $382 for the three -months and $1,066 for the six-months ended March 3 1 , 2017 related to Woodward’s equity interest in the earnings of the JV. Woodward received no cash distributions from the JV in the three and six-months ended March 31, 2018, compared to a $2,500 cash distribution from the JV during the three and six-months ended March 31, 2017, which was included in Net cash provided by operating activities under the caption “Other” on the Condensed Consolidated Statement of Cash Flows. Woodward’s net investment in the JV, which is i ncluded in other assets, was $7,874 as of March 31, 2018 and $6,272 as of September 30, 201 7 . Woodward’s net sales include $17,077 for the three-months and $30,052 for the six-months ended March 31, 2018 of sales to the JV, compared to $18,415 for the three -months and $33,717 for the six-months ended March 3 1 , 2017 . Woodward recorded a reduction to sales of $6,922 for the three-months and $12,330 for the six-months ended March 31, 2018 related to royalties paid to the JV by Woodward on sales by Woodward directly to third party aftermarket customers, compared to $5,674 for the three -months and $11,077 for the six-months ended March 3 1 , 2017 . The Condensed Consolidated Balance Sheets include “Accounts receivable” of $9,755 at March 31, 2018, and $8,554 at September 30, 2017, related to amounts the JV owed Woodward, and include “Accounts payable” of $6,420 at March 31, 2018, and $6,741 at September 30, 2017, related to amounts Woodward owed the JV.

Financial Instruments and Fair

Financial Instruments and Fair Value Measurements	6 Months Ended
	Mar. 31, 2018
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 March 31, 2018 or September 30, 2017.      At March 31, 2018 At September 30, 2017  Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total  Financial assets:  Cash $ 98,646 $ - $ - $ 98,646 $ 79,822 $ - $ - $ 79,822  Investments in reverse repurchase agreements 557 - - 557 1 - - 1  Investments in term deposits with foreign banks 944 - - 944 7,729 - - 7,729  Equity securities 19,050 - - 19,050 16,600 - - 16,600  Total financial assets $ 119,197 $ - $ - $ 119,197 $ 104,152 $ - $ - $ 104,152 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” in the Condensed Consolidated Balance Sheets. 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 with creditworthy financial institutions. Such investments are reported in “Cash and cash equivalents” at fair value, with realized gains from interest 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” on the Condensed Consolidated Statements of Earnings. The trading securities are included in “Other assets” in the Condensed Consolidated Balance Sheets. 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, and short-term borrowings 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 March 31, 2018 At September 30, 2017  Fair Value Hierarchy Level Estimated Fair Value Carrying Cost Estimated Fair Value Carrying Cost  Assets:  Notes receivable from municipalities 2 $ 14,506 $ 14,346 $ 15,848 $ 14,507  Investments in short-term time deposits 2 - - 8,227 8,223  Liabilities:  Long-term debt 2 $ (588,701) $ (590,115) $ (592,317) $ (582,080)  In fiscal years 2014 and 2013, Woodward received long-term notes from municipalities within the states 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 2.8 % at March 31, 2018 and 2.6% at September 30, 2017. 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 for similar short-term time deposits of similar maturity. This was determined to be 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 short-term time deposits was 5.3% at September 30, 2017. There were no investments in short-term time deposits at March 31, 2018. 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 2.8% at March 31, 2018 and 2.4% at September 30, 2017.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	6 Months Ended
	Mar. 31, 2018
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 counterparties that are believed to be creditworthy. 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 or six-months ended March 31, 2018 or 2017 . The remaini ng unrecognized gains 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 $182 as of March 31, 2018 and $218 as of September 30, 2017. 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 March 31, Six-Months Ended March 31,  2018 2017 2018 2017  Amount of income recognized in earnings on derivative $ (18) $ (18) $ (36) $ (36)  Amount of (gain) loss recognized in accumulated OCI on derivative - - - -  Amount of gain reclassified from accumulated OCI into earnings (18) (18) (36) (36)  Based on the carrying value of the realized but unrecognized gains on terminated derivative instruments designated as cash flow hedges as of March 31, 2018 , 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 Agreement”) 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 (the “Series M Notes”). Woodward designated the Series M Notes as a hedge of a foreign currency exposure of Woodward’s net investment in its Euro denominated functional currency subsidiaries. On the Series M Notes, included in foreign currency translation adjustments within total comprehensive (losses) earnings are net foreign exchange losses of $1,268 for the three-months an d $2,011 for the six-months end ed March 31, 2018, compared to net foreign exchange loss es of $664 for the three-months and net foreign exchange gain s of $2,150 for the six-months ended March 31, 2017. In July 2016, Woodward designated a n intercompany loan of 160,000 renminbi between two wholly owned subsidiaries as a hedge of a foreign currency exposure of the net investment of the borrower in the lender. Related to the intercompany loan, unrealized foreign exchange losses of $281 for the three-months and unrealized foreign exchange gains of $735 for the six-months ended March 31, 2017 are included in foreign currency translation adjustments within total comprehensive (losses) earnings. T he intercompany loan was repaid i n July 2017 .

Supplemental Statements of Cash

Supplemental Statements of Cash Flows Information	6 Months Ended
	Mar. 31, 2018
Supplemental Statements of Cash Flows Information
Supplemental Statements of Cash Flows Information	Note 7. Supplemental statement of cash flows information          Six-Months Ended March 31,  2018 2017  Interest paid, net of amounts capitalized $ 14,032 $ 13,999  Income taxes paid 28,592 9,160  Income tax refunds received 1,841 90  Non-cash activities:  Purchases of property, plant and equipment on account 9,051 7,621  Common shares issued from treasury to settle employee liabilities - 1,767  Common shares issued from treasury to settle benefit obligations (Note 18) 14,741 14,014  Cashless exercise of stock options - 1,473 

Accounts Receivable

Accounts Receivable	6 Months Ended
	Mar. 31, 2018
Accounts Receivable Disclosure
Accounts Receivable	Note 8. Accounts receivable Almost all of Woodward’s sales are made on credit and result in accounts receivable, which are recorded at the amount invoiced and are generally not collateralized. In the normal course of business, not all accounts receivable are collected and, therefore, an allowance for uncollectible amounts is provided equal to the amount that Woodward believes ultimately will not be collected. In establishing the amount of the allowance related to the credit risk of accounts receivable, customer-specific information is considered related to delinquent accounts, past loss experience, bankruptcy filings, deterioration in the customer’s operating results or financial position, and current economic conditions. Accounts receivable losses are deducted from the allowance, and the related accounts receivable balances are written off when the receivables are deemed uncollectible. Recoveries of accounts receivable previously written off are recognized when received. In addition, an allowance associated with anticipated future sales returns is also established and is included in the allowance for uncollectible amounts. Consistent with common business practice in China, Woodward’s Chinese subsidiary accepts from Chinese customers, in settlement of certain customer accounts receivable, bankers’ acceptance notes issued by Chinese banks that are believed to be creditworthy. Bankers’ acceptance notes are financial instruments issued by Chinese financial institutions as part of financing arrangements between the financial institution and a customer of the financial institution. Bankers’ acceptance notes represent a commitment by the issuing financial institution to pay a certain amount of money at a specified future maturity date to the legal owner of the bankers’ acceptance note as of the maturity date. The maturity date of bankers’ acceptance notes varies, but it is Woodward’s policy to only accept bankers’ acceptance notes with maturity dates no more than 180 days from the date of Woodward’s receipt of such draft. The issuing financial institution is the obligor, not Woodward’s customers. Upon Woodward’s acceptance of a banker’s acceptance note from a customer, such customer has no further obligation to pay Woodward for the related accounts receivable balance. Woodward only accepts bankers’ acceptance notes issued by banks that are believed to be creditworthy and to which the credit risks associated with the bankers’ acceptance notes are believed to be minimal. The composition of Woodward’s accounts receivable at March 31, 2018 and September 30, 201 7 follows:          March 31, September 30,  2018 2017  Accounts receivable from:  Customers $ 326,057 $ 367,715  Other (Chinese financial institutions) 42,969 38,243  Allowance for uncollectible customer amounts (3,675) (3,776)  $ 365,351 $ 402,182 

Inventories

Inventories	6 Months Ended
	Mar. 31, 2018
Inventories
Inventories	Note 9 . Inventories     March 31, September 30,  2018 2017  Raw materials $ 59,171 $ 59,034  Work in progress 111,775 103,790  Component parts (1) 283,489 262,755  Finished goods 54,536 47,926  $ 508,971 $ 473,505 (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	6 Months Ended
	Mar. 31, 2018
Property, Plant, and Equipment, Net
Property, Plant and Equipment, Net	N ote 10 . Property, plant, and equipment       March 31, September 30,  2018 2017  Land and land improvements $ 88,595 $ 88,326  Buildings and building improvements 516,687 514,453  Leasehold improvements 18,303 16,142  Machinery and production equipment 575,695 543,641  Computer equipment and software 122,663 124,723  Office furniture and equipment 24,661 24,308  Other 19,397 19,393  Construction in progress 115,551 111,910  1,481,552 1,442,896  Less accumulated depreciation (538,119) (520,853)  Property, plant, and equipment, net $ 943,433 $ 922,043  In the second quarter of fiscal year 2018, the Company announced its decision to relocate its Duarte, California operations to the Company’s newly renovated Drake Ca mpus in Fort Collins, Colorado. I ncluded in “Land and land improvements” and “Buildings and improv ements” are assets held for use of $7,604 at March 31, 2018, which relate to the land, building and building improvements at the Duarte facility . The assets held for use are included in the Company’s Aerospace segment . The Company had no assets held for use recorded as of September 30, 2017. The Company has not yet determined which of the remaining assets at the Duarte facility, consisting mainly of machinery and equipment, will be sold or relocated to the renovated Drake Campus and therefore, has continued to depreciate these assets until a determination is made. The carrying value of the remaining assets at the Duarte facility was approximately $13,200 as of March 31, 2018. The Company assessed whether the decision to relocate from its Duarte facility could indicate a potential impairment of the assets at the Duarte facility and concluded that the assets were not impaired as of March 31, 2018. Included in “Office furniture and equipment” and “Other” is $1,653 at each of March 31, 2018 and September 30, 201 7 , of gross assets acquired on capital leases, and accumulated depreciation included $948 at March 31, 2018 and $739 at September 30, 2017 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 for its Aerospace segment. This campus is intended to support Woodward’s expected growth in its Aerospace segment 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 $40, 792 at March 31, 2018 and $49,347 at September 30, 2017 associated with new equipment purchases for the greater-Rockford campus and costs of $29,644 at March 31, 2018 and $15,584 at September 30, 2017 associated with the renovation of the Drake Campus . For the three and six-months ended March 31, 2018 and 2017 , Woodward had depreciation expense as follows:      Three-Months Ended Six-Months Ended  March 31, March 31,  2018 2017 2018 2017  Depreciation expense $ 15,754 $ 13,663 $ 30,581 $ 26,118 For the three and six-months ended March 31, 2018 and 2017 , Woodward capitalized interest that would have otherwise been included in interest expense of the following:      Three-Months Ended Six-Months Ended  March 31, March 31,  2018 2017 2018 2017  Capitalized interest $ 633 $ 481 $ 1,234 $ 953  

Goodwill

Goodwill	6 Months Ended
	Mar. 31, 2018
Goodwill Disclosure
Goodwill	Note 1 1 . Goodwill      September 30, 2017 Effects of Foreign Currency Translation March 31, 2018  Aerospace $ 455,423 $ - $ 455,423  Industrial 101,122 1,436 102,558  Consolidated $ 556,545 $ 1,436 $ 557,981 Woodward tests goodwill for impairment during the fourth quarter of each fiscal year, or at any time there is an indication goodwill is more-likely-than-not impaired, commonly referred to as triggering events. There have been no such triggering events during any of the periods presented and Woodward’s fourth quarter of fiscal year 2017 impairment test resulted in no impairment.

Intangible Assets, Net

Intangible Assets, Net	6 Months Ended
	Mar. 31, 2018
Intangible Assets, Net
Intangible Assets, Net	Note 12 . Intangible assets, net     March 31, 2018 September 30, 2017  Gross Carrying Value Accumulated Amortization Net Carrying Amount Gross Carrying Value Accumulated Amortization Net Carrying Amount  Customer relationships and contracts:  Aerospace $ 281,683 $ (158,666) $ 123,017 $ 282,225 $ (151,155) $ 131,070  Industrial 41,185 (35,064) 6,121 40,962 (34,407) 6,555  Total $ 322,868 $ (193,730) $ 129,138 $ 323,187 $ (185,562) $ 137,625   Intellectual property:  Aerospace $ - $ - $ - $ - $ - $ -  Industrial 19,723 (18,657) 1,066 19,422 (18,196) 1,226  Total $ 19,723 $ (18,657) $ 1,066 $ 19,422 $ (18,196) $ 1,226   Process technology:  Aerospace $ 76,372 $ (51,881) $ 24,491 $ 76,605 $ (49,124) $ 27,481  Industrial 23,062 (18,635) 4,427 22,950 (17,756) 5,194  Total $ 99,434 $ (70,516) $ 28,918 $ 99,555 $ (66,880) $ 32,675   Other intangibles:  Aerospace $ - $ - $ - $ - $ - $ -  Industrial 1,478 (1,152) 326 1,312 (956) 356  Total $ 1,478 $ (1,152) $ 326 $ 1,312 $ (956) $ 356   Total intangibles:  Aerospace $ 358,055 $ (210,547) $ 147,508 $ 358,830 $ (200,279) $ 158,551  Industrial 85,448 (73,508) 11,940 84,646 (71,315) 13,331  Consolidated Total $ 443,503 $ (284,055) $ 159,448 $ 443,476 $ (271,594) $ 171,882  For the three and six-months ended March 31, 2018 and 2017 , Woodward recorded amortization expense associated with intangibles of the following:      Three-Months Ended Six-Months Ended  March 31, March 31,  2018 2017 2018 2017  Amortization expense $ 6,258 $ 6,431 $ 12,501 $ 12,889  Future amortization expense associated with intangibles is expected to be:             Year Ending September 30:  2018 (remaining) $ 12,513  2019 23,165  2020 20,407  2021 18,405  2022 16,253  Thereafter 68,705  $ 159,448 

Credit Facilities, Short-term B

Credit Facilities, Short-term Borrowings and Long-term Debt	6 Months Ended
	Mar. 31, 2018
Debt Disclosure
Credit Facilities, Short-term Borrowings and Long-term Debt	 Note 1 3 . 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 can be made by Woodward and certain of its foreign subsidiaries in U.S dollars or in foreign currencies other than the U.S. dollar and 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 $ 41,930 in principal amount of borrowings outstanding as of March 31, 2018 , at an effective interest rate of 3.28 % , and $32,600 in principal amount of borrowings outstanding as of September 30, 2017, at an ef fective interest rate of 2.29% . As of March 31, 2018 and September 30, 2017, all 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 Woodward 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 March 31, 2018 and September 30, 2017 on Woodward’s foreign lines of credit and foreign overdraft facilities. Long-term debt     March 31, September 30,  2018 2017  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 49,279 47,270  Series N notes – 1.31% due September 2028; unsecured 94,861 90,995  Series O notes – 1.57% due September 2031; unsecured 52,975 50,815  Unamortized debt issuance costs (1,654) (1,794)  Total long-term debt 588,461 580,286  Less: Current portion of long-term debt - -  Long-term debt, less current portion $ 588,461 $ 580,286 The Notes In October 2008 , Woodward entered into a note purchase agreement relating to the S eries D Notes . The Series D Notes mature and are payable in October 2018. As of March 31, 2018, the entire amount of debt under the Series D Notes has been classified as long-term based on Woodward’s intent and ability to refinance this debt using cash proceeds from its existing revolving credit facility which, in turn, is expected to be repaid beyond the next twelve months. In April 2009 , Woodward entered into a note purchase agreement relating to the S eries F 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 private 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 Series D Notes, the Series F 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 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 Se ries N Notes, the “2016 Notes,” and, together with the USD Notes, collectively, the “Notes”). Interest on the Series D 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 p aid. Interest on the Series F Notes is payable semi-annually on April 15 and October 15 of each year until all principal is paid. Interest on the 2016 Notes is payable semi-annually on March 23 and September 23 of each year, 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 all principal is paid. As of March 31, 2018 , the Series J Notes bore interest at an effective rate of 3.12 % . Debt Issuance Costs Unamortized debt issuance costs associated with the Notes of $1,654 as of March 31, 2018 and $1,794 as of September 30, 201 7 were recorded as a reduction in “Long-term debt, less current portion” in the Condensed Consolidated Balance Sheets. Unamortized debt issuance costs of $1,822 associated with the Revolving Credit Agreement as of March 31, 2018 and $2,259 as of September 30, 201 7 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	6 Months Ended
	Mar. 31, 2018
Accrued Liabilities
Accrued Liabilities	Note 1 4 . Accrued liabilities      March 31, September 30,  2018 2017  Salaries and other member benefits $ 27,986 $ 91,285  Warranties 13,283 13,597  Interest payable 9,697 9,626  Current portion of acquired performance obligations and unfavorable contracts (1) 1,627 1,627  Accrued retirement benefits 2,379 2,413  Current portion of loss reserve on contractual lease commitments 1,245 1,343  Current portion of deferred income from JV formation (Note 4) 6,427 6,451  Deferred revenues 3,372 4,625  Restructuring charges 17,013 -  Taxes, other than income 17,890 14,401  Other 10,523 9,704  $ 111,442 $ 155,072  (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” in the Condensed Consolidated Balance Sheets.  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 March 31, Six-Months Ended March 31,  2018 2017 2018 2017  Warranties, beginning of period $ 13,017 $ 15,528 $ 13,597 $ 15,993  Expense, net of recoveries 2,334 2,139 304 4,062  Reductions for settling warranties (2,209) (2,750) (832) (4,782)  Foreign currency exchange rate changes 141 124 214 (232)  Warranties, end of period $ 13,283 $ 15,041 $ 13,283 $ 15,041    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 and recognize d a loss reserve against the estimated remaining contractual lease commitments, less anticipated sublease income. Changes in the loss reserve were as follows:      Three-Months Ended March 31, Six-Months Ended March 31,  2018 2017 2018 2017  Loss reserve on contractual lease commitments, beginning of period $ 4,717 $ 8,840 $ 5,270 $ 9,242  Payments, net of sublease income (239) (445) (792) (847)  Loss reserve on contractual lease commitments, end of period $ 4,478 $ 8,395 $ 4,478 $ 8,395 Other liabilities included $3,233 and $3,927 of accrued loss reserve on contractual lease commitments as of March 31, 2018 and September 30, 2017, respectively, which are not expected to be settled or paid within twelve months of the respective balance sheet date. Restructuring charges In the second quarter of fiscal 2018, the Company recorded restructuring charges totaling $17,013, the majority of which relate to the Company’s decision to relocate its Duarte, California operations to the Company’s newly renovated Drake Campus in Fort Collins, Colorado. The Duarte facility, which manufactures thrust reverser actuation systems, is part of the Company’s Aerospace segment. Included in the $17,013 of restructuring charges for the three and six-months ended March 31, 2018, is $12,504 of workforce management costs associated with the transfer of the business from Duarte to Fort Collins. The remaining restructuring charges recognized in the three and six-months ended March 31, 2018 is $4,509 of workforce management costs related to aligning the Company’s industrial turbomachinery business, which is part of the Company’s Industrial segment, with current market conditions. All of the restructuring charges recorded in the second quarter and first half of fiscal 2018 were recorded as nonsegment expenses. All of the restructuring charges recorded as of March 31, 2018 are expected to be paid within one year of the balance sheet date . In addition to the restructuring charges recognized in the second quarter of fiscal year 2018 , the Company anticipates incurring additional costs associated with the Duarte relocation such as expenses associated with equipment relocation , employee training, accelerated depreciation, and increased labor e xpenses over the coming year. The Company anticipate s these additional expenses will vary by quarter, but are expected to be approximately $12,000 in total. Although the Company plans to sell the Duarte facility’s land, building and building improvements, it is currently still occupying the Duarte facility and has recorded these as assets held for use as of March 31, 2018 (see Note 10, Property, plant and equipment ).

Other Liabilities

Other Liabilities	6 Months Ended
	Mar. 31, 2018
Other Liabilities
Other Liabilities	Note 15 . Other liabilities      March 31, September 30,  2018 2017  Net accrued retirement benefits, less amounts recognized within accrued liabilities $ 53,234 $ 52,211  Noncurrent portion of deferred income from JV formation (1) 239,275 236,896  Total unrecognized tax benefits 20,684 20,949  Noncurrent income taxes payable (2) 23,920 -  Acquired unfavorable contracts (3) 1,149 2,076  Deferred economic incentives (4) 13,801 14,574  Loss reserve on contractual lease commitments (5) 3,233 3,927  Other 10,850 14,165  $ 366,146 $ 344,798   (1) See Note 4, Joint venture for more information on the deferred income from JV formation. (2) See Note 17, Income taxes for more information on the noncurrent income taxes payable. (3) In connection with 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. The long-term portion of the acquired unfavorable contracts is included in Other liabilities. (4) 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. (5) See Note 14, Accrued liabilities for more information on the loss reserve on contractual lease commitments .

Other (Income) Expense, Net

Other (Income) Expense, Net	6 Months Ended
	Mar. 31, 2018
Other (Income) Expense, Net
Other (Income) Expense, Net	Note 16 . Other (income) expense, net       Three-Months Ended Six-Months Ended  March 31, March 31,  2018 2017 2018 2017  Equity interest in the earnings of the JV (Note 4) $ (1,006) $ (382) $ (1,602) $ (1,066)  Net (gain) loss on sales of assets (396) 37 (454) (3,662)  Rent income (17) (70) (71) (143)  Net gain on investments in deferred compensation program (46) (705) (700) (729)  Other (148) (195) (358) (303)  $ (1,613) $ (1,315) $ (3,185) $ (5,903)

Income Taxes

Income Taxes	6 Months Ended
	Mar. 31, 2018
Income Taxes
Income Taxes	Note 17. Income taxes On December 22, 2017, the United States (“U.S.”) enacted significant changes to the U.S. tax law following the passage and signing of the Tax Act. The Tax Act included significant changes to existing tax law, including a permanent reduction to the U.S. federal corporate income tax rate from 35% to 21%, a one-time repatriation tax on deferred foreign income (“Transition Tax”), deductions, credits and business-related exclusions. 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. Enactment of the Tax Act during December 2017 resulted in a provisional discrete net charge to Woodward’s income tax expense in the amount of $14,778, which was recorded in the first quarter of fiscal year 2018. The re were no provisional adjustments recorded to income tax expense in the three-months ended March 31, 2018. 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. The permanent reduction to the U.S. federal corporate income tax rate from 35 % to 21 % is effective January 1, 2018 (the “Effective Date”). When a U.S. federal tax rate change occurs during a taxpayer’s fiscal year, taxpayers are required to compute a weighted daily average rate for the fiscal year of enactment. As a result of the Tax Act, Woodward has calculated a U.S. federal statutory corporate income tax rate of 24.5% for the fiscal year ending September 30, 2018 and applied this rate in computing the income tax provision for the three and six-months ended March 31, 2018. The U.S. federal statutory corporate income tax rate of 24.5% is the weighted daily average rate between the pre-enactment U.S. federal statutory tax rate of 35% applicable to Woodward’s 2018 fiscal year prior to the Effective Date and the post-enactment U.S. federal statutory tax rate of 21% applicable to the 2018 fiscal year thereafter. Woodward expects the U.S. federal statutory rate to be 21% for fiscal years beginning after September 30, 2018. On December 22, 2017, the SEC issued SAB 118 . SAB 118 expresses views of the SEC regarding ASC 740 in the reporting period that includes the enactment date of the Tax Act. Subsequent to the issuance of SAB 118, in March 2018, the FASB issued ASU 2018-05 , which formally amended ASC 740 for the guidance previously provided by SAB 118. The SEC staff issuing SAB 118 (the “Staff”) recognized that a registrant’s review of certain income tax effects of the Tax Act may be incomplete at the time financial statements are issued for the reporting period that includes the enactment date, including interim periods therein. The Staff’s view of the enactment of the Tax Act has been developed considering the principles of ASC Topic 805, Business Combinations , which addresses the accounting for certain items in a business combination for which the accounting is incomplete upon issuance of the financial statements that include the reporting period in which the business combination occurs. Specifically, the Staff provides that the accounting guidance in ASC Topic 805 may be analogized to the accounting for impacts of the Tax Act. If a company does not have the necessary information available, prepared or analyzed for certain income tax effects of the Tax Act, SAB 118 allows a company to report provisional numbers and adjust those amounts during the measurement period not to extend beyond one year. For the three and six-months ended March 31, 2018, Woodward has recorded all known and estimable impacts of the Tax Act that are effective for fiscal year 2018. Future adjustments to the provisional numbers will be recorded as discrete adjustments to income tax expense in the period in which those adjustments become estimable and/or are finalized. Accordingly, Woodward’s income tax provision for the three and six-months ended March 31, 2018 reflects (i) the current year impacts of the Tax Act on the estimated annual effective tax rate and (ii) discrete items , if any, resulting directly from the enactment of the Tax Act based on the information available, prepared, or analyzed (including computations) in reasonable detail. There were no changes in the discrete impact from the enactment of the Tax Act for the three-months ended March 31, 2018.     Six-Months Ended  March 31, 2018  Transition tax (provisional) $ 26,000  Net impact on U.S. deferred tax assets and liabilities (provisional) (16,260)  Net changes in deferred tax liability associated with anticipated repatriation taxes (provisional) 5,038  Net discrete impacts of the enactment of the Tax Act $ 14,778 Woodward determined that the Transition Tax is provisional because various components of the computation are unknown as of March 31, 2018, including the following significant items: the exchange rates for fiscal year 2018, the actual aggregate foreign cash position and the earnings and profits of the foreign entities as of September 30, 2018, the interpretation and identification of cash positions as of September 30, 2018, and incomplete computations of accumulated earnings and profits balances as of November 2, 2017 and December 31, 2017 . Consistent with provisions allowed under the Tax Act, the $26,000 estimated Transition Tax liability will be paid over an eight year period beginning in fiscal year 2019. As of March 31, 2018, the current portion of the estimated Transition Tax liability in the amount of $2,080 has been included in “Income taxes receivable , net ” , and the noncurrent portion in the amount of $23,920 has been included in “Other liabilities” in the Condensed Consolidated Balance Sheets. Woodward also determined that the impact of the U.S. federal corporate income tax rate change on the U.S. deferred tax assets and liabilities is provisional because the number cannot be calculated until the underlying timing differences are known rather than estimated. Given the Tax Act’s significant changes and potential opportunities to repatriate cash tax free, Woodward is in the process of evaluating its current indefinite assertions. As a result of the Tax Act, Woodward now expects to repatriate certain earnings which will be subject to withholding taxes. These additional withholding taxes were recorded as an additional deferred tax liability associated with the basis difference in such jurisdictions. The uncertainty related to the taxation of such withholding taxes on distributions under the Tax Act and finalization of the cash repatriation plan makes the deferred tax liability a provisional amount. Woodward continues to review the anticipated impacts of the global intangible low taxed income (“GILTI”) and base erosion anti-abuse tax (“BEAT”) on Woodward, which are not effective until fiscal year 2019. Woodward has not recorded any impact associated with either GILTI or BE AT in the tax rate as of the second quarter of fiscal year 2018. Within the calculation of Woodward’s annual effective tax rate Woodward has used assumptions and estimates that may change as a result of future guidance, interpretation, and rule-making from the Internal Revenue Service, the SEC, and the FASB and/or various other taxing jurisdictions. For example, Woodward anticipates that the state jurisdictions will continue to determine and announce their conformity to the Tax Act which could have an impact on the annual effective tax rate. The following table sets forth the tax expense and the effective tax rate for Woodward’s earnings before income taxes:      Three-Months Ended Six-Months Ended  March 31, March 31,  2018 2017 2018 2017  Earnings before income taxes $ 48,647 $ 50,236 $ 86,134 $ 97,295  Income tax expense 10,158 12,131 29,385 12,642  Effective tax rate 20.9% 24.1% 34.1% 13.0% The decrease in the year-over-year effective tax rate for the three-months ended March 31, 2018 is primarily attributable to the benefits of the current year effect of the U.S. federal corporate tax rate reduction in connection with the enactment of the Tax Act on the estimated annual effective tax rate , partially offset by a smaller favorable adjustment for the net excess income tax benefits from stock-based compensation, less foreign earnings taxed at lower tax rate s and fewer favorable resolutions of tax matters in the current quarter. The increase in the effective tax rate for the six-months ended March 31, 2018 compared to the six-months ended March 31, 2017 is primarily attributable to the $14,778 discrete net unfavorable impact in the first quarter of fiscal year 2018 resulting from the enactment of the Tax Act partially offset by benefits of the current year effect of the U.S. federal corporate tax rate reduction in connection with the enactment of the Tax Act on the estimated ann ual effective tax rate. In addition , the effective tax rate for the six-months ended March 31 , 201 7 included the impact of the repatriation to the U.S. of certain net foreign profits and losses. In the first quarter of fiscal year 2017, the U.S. foreign tax credits available as a result of the repatriation of the fo reign net earnings were greater than the U.S. taxes payable on these foreign net earnings. Gross unrecognized tax benefits were $19,574 as of March 31, 2018, and $20,132 as of September 30, 2017. Included in the balance of unrecognized tax benefits were $9,176 as of March 31, 2018 and $9,677 as of September 30, 2017 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 $8,901 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 $1,372 as of March 31, 2018 and $1,123 as of September 30, 2017. 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 2014 and thereafter. Woodward is currently under examination by the Internal Revenue Service for fiscal years 2016, 2015 and 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	6 Months Ended
	Mar. 31, 2018
Retirement Benefits - General
Retirement Benefits	Note 18. 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 similar foreign plans. Most of Woodward’s U.S. employees with at least two years of service receive an annual contribution of Woodward stock, equal to 5% of their eligible prior year wages, to their personal Woodward Retirement Savings Plan accounts. Woodward fulfilled its annual Woodward stock contribution obligation using shares held in treasury stock by issuing a total of 202 shares of common stock for a value of $14,741 in the second quarter of fiscal year 2018, compared to a total of 199 shares of com mon stock for a value of $14,014 in the second quarter of fiscal year 2017 . The amount of expense associated with defined contribution plans was as follows:      Three-Months Ended Six-Months Ended  March 31, March 31,  2018 2017 2018 2017  Company costs $ 8,716 $ 8,502 $ 16,595 $ 15,751  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 outs tanding as of September 30, 2017 , 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, which closed in the fourth quarter of fiscal year 2016 and was fully settled during the first quarter of fiscal year 2017, 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 were provided the opportunity to 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 and first half of fiscal year 2017. Woodward made 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 March 31,  United States Other Countries Total  2018 2017 2018 2017 2018 2017  Service cost $ 411 $ 418 $ 165 $ 187 $ 576 $ 605  Interest cost 1,501 1,439 344 296 1,845 1,735  Expected return on plan assets (2,903) (2,633) (717) (638) (3,620) (3,271)  Amortization of:  Net actuarial loss 149 463 75 126 224 589  Prior service cost 178 96 - - 178 96  Net periodic retirement pension benefit $ (664) $ (217) $ (133) $ (29) $ (797) $ (246)  Contributions paid $ - $ - $ 119 $ 101 $ 119 $ 101    Six-Months Ended March 31,  United States Other Countries Total  2018 2017 2018 2017 2018 2017  Service cost $ 822 $ 837 $ 323 $ 379 $ 1,145 $ 1,216  Interest cost 3,002 2,878 673 592 3,675 3,470  Expected return on plan assets (5,807) (5,265) (1,403) (1,279) (7,210) (6,544)  Amortization of:  Net actuarial loss 299 927 147 253 446 1,180  Prior service cost 355 192 - - 355 192  Net periodic retirement pension benefit $ (1,329) $ (431) $ (260) $ (55) $ (1,589) $ (486)  Contributions paid $ - $ - $ 431 $ 466 $ 431 $ 466  The components of the net periodic other postretirement benefit costs recognized are as follows:       Three-Months Ended Six-Months Ended  March 31, March 31,  2018 2017 2018 2017  Service cost $ 2 $ 3 $ 4 $ 7  Interest cost 291 311 583 622  Amortization of:  Net actuarial loss 24 51 48 101  Prior service benefit (39) (39) (79) (79)  Curtailment gain - - (330) -  Net periodic other postretirement cost $ 278 $ 326 $ 226 $ 651  Contributions paid $ 1,009 $ 804 $ 1,235 $ 1,419  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 ac tual funding in fiscal year 2018 may differ from the current estimate. Woodward estimates its remaining cash c ontributions in fiscal year 2018 will be as follows:        Retirement pension benefits:  United States $ -  United Kingdom 219  Japan -  Other postretirement benefits 2,636 Multiemployer defined benefit plans Woodward operates multiemployer defined benefit plans for certain employees in both the Netherlands and Japan. The amounts of contributions associated with the multiemployer plans were as follows:      Three-Months Ended Six-Months Ended  March 31, March 31,  2018 2017 2018 2017  Company contributions $ 87 $ 79 $ 167 $ 147 

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Mar. 31, 2018
Stockholders' Equity and Stock-Based Compensation [Abstract]
Stockholders' Equity	Note 19. Stockholders’ equity Stock repurchase program In the first quarter o f fiscal year 2017, Woodward’s board of d irectors 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 November 2019 (the “2017 Authorization”). I n the first half of fiscal year 2017, Woodward purchased, under the 2017 Authorization, 886 shares of its common stock for $61,229 , of which 350 shares were purchased pursuant to a 10b5-1 plan and 536 shares were purchased pursuant to a 10b-18 plan. Woodward repurchased no common stock under a stock repurchase program in the first half of fiscal year 2018. Stock-based compensation Provisions governing outstanding stock option awards are included in the 2017 Omnibus Incentive Plan (the “2017 Plan”), 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. No further grants will be made under the 2006 Plan , which expired in fiscal year 2016 . Woodward has reserved a total of 2,000 shares of Woodward’s common stock for issuance under the 2017 Plan , which was approved by Woodward’s stockholders in January 2017 and is a successor plan to the 2006 Plan. Stock options To date , equity awards under the 2017 Plan have consisted of grants of stock opti ons to Woodward’s employees and directors. Woodward believes that these stock options align the interests of its employees and directors with the interests of its stockholders. Stock option awards are granted with an exercise price equal to the market price of Woodward’s stock at the date the grants are awarded, a ten -year term, and generally a four -year vesting schedule at a rate of 25% per year. The fair value of options granted is estimated as of the grant date using the Black-Scholes-Merton option-valuation model using the assumptions in the following table. Woodward calculates the expected term, which represents the average period of time that stock options granted are expected to be outstanding, based upon historical experience of plan participants. Expected volatility is based on historical volatility using daily stock price observations. The estimated dividend yield is based upon Woodward’s historical dividend practice and the market value of its common stock. The risk-free rate is based on the U.S. treasury yield curve, for periods within the contractual life of the stock option, at the time of grant.       Three-Months Ended Six-Months Ended  March 31, March 31,  2018 2017 2018 2017  Weighted-average exercise price per share $ 72.01 $ 62.64 $ 78.91 $ 62.64  Weighted-average grant date market value of Woodward stock $ 72.01 $ 69.45 $ 78.91 $ 69.45  Expected term (years) 6.4 6.0 - 8.7 6.4 - 8.7 6.0 - 8.7  Estimated volatility 29.1% 31.5% - 33.7% 29.1% - 32.7% 31.5% - 33.7%  Estimated dividend yield 0.8% 0.7% 0.6% - 0.8% 0.7%  Risk-free interest rate 2.7% - 2.8% 2.2% - 2.5% 2.1% - 2.8% 2.2% - 2.5%  The following is a summary of the activity for stock option awards during the three and six- months ended March 31, 2018 :       Three-Months Ended Six-Months Ended  March 31, 2018 March 31, 2018  Number of options Weighted-Average Exercise Price per Share Number of options Weighted-Average Exercise Price per Share  Options, beginning balance 5,937 $ 44.48 5,236 $ 39.58  Options granted 6 72.01 750 78.91  Options exercised (63) 34.54 (97) 36.84  Options forfeited - - (9) 55.61  Options, ending balance 5,880 44.62 5,880 44.62 Changes in non-vested stock options during the three and six -months ended March 31, 2018 were as follows:       Three-Months Ended Six-Months Ended  March 31, 2018 March 31, 2018  Number of options Weighted-Average Grant Date Fair Value per Share Number of options Weighted-Average Grant Date Fair Value Per Share  Options outstanding, beginning balance 2,020 $ 21.63 2,072 $ 18.61  Options granted 6 22.82 750 25.66  Options vested (4) 23.10 (791) 17.57  Options forfeited - - (9) 19.82  Options outstanding, ending balance 2,022 21.63 2,022 21.63  Information about stock options that have vested, or are expected to vest, and are exercisable at March 31, 2018 was as follows:      Number Weighted- Average Exercise Price Weighted- Average Remaining Life in Years Aggregate Intrinsic Value  Options outstanding 5,880 $ 44.62 5.9 $ 155,908  Options vested and exercisable 3,858 35.68 4.6 132,401  Options vested and expected to vest 5,782 44.25 5.9 155,118 Stock-based compensation expense Woodward recognizes stock-based compensation expense on a straight-line basis over the requisite service period. Pursuant to form stock option agreements used by the Company, with terms approved by the administrator of the applicable plan, 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 expense on the date of grant. Upon approving the 2017 Plan, Woodward’s board of d irectors delegated authority to administer the 2017 Plan to the compensation committe e of the board , including, but not limited to, the power to determine the recipients of awards and the terms of those awards. The compensation c ommittee approved issuance of options in the first quarter of fiscal year 2017 under the 2017 Plan, with an award date of October 3, 2016 conditional upon 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 related to such awards was recognized on these stock options , during the three-months ended December 31, 2016, but rather the expense was recognized in the three-months ended March 31, 2017 . Options granted in the three-months ended December 31, 2017 were not conditionally granted and, therefore, stock-based compensation expense related to those awards was recognized during the three-months ended December 31, 2017. Total stock-based compensation expense was $2,011 for the three-months and $14,434 for the six-months ended March 31, 2018, and $12,502 for the three-months and $13,763 for the six-months ended March 31, 2017. At March 31, 2018 , there was approximately $12,695 of total unrecognized compensation expense related to non-vested stock-based com pensation arrangements. The pre-vesting forfeiture rates for purposes of determining stock-based compensation expense 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 2.2 years.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Mar. 31, 2018
Commitments and Contingencies Disclosure
Commitments and Contingencies	Note 20. 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 using estimates of the most likely amount of loss where it believes that it is probable the matter will result in a loss when ultimately resolved and such loss is reasonably estimable . 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 revie ws the probable outcome of related 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 any such officer if such officer’s employment is terminated within two years following the change of control .

Segment Information

Segment Information	6 Months Ended
	Mar. 31, 2018
Segment Information
Segment Information	Note 21. Segment information Woodward serves the aerospace and industrial markets through its two reportable segments - Aerospace and Industrial. When appropriate, Woodward’s reportable segments are aggregations of Woodward’s operating segments. Woodward uses operating segment information internally to manage its business, including the assessment of operating segment performance and decisions for the allocation of resources between operating segments. The accounting policies of the reportable segments are the same as those of the Company. Woodward evaluates segment profit or loss based on internal performance measures for each segment in a given period. In connection with that assessment, Woodward generally excludes matters such as certain charges for restructuring , interest income and expense, certain gains and losses from asset dispositions, or other non-recurring and/or non-operationally related expenses. A summary of consolidated net sales and earnings by segment follows:      Three-Months Ended Six-Months Ended  March 31, March 31,  2018 2017 2018 2017  Segment external net sales:  Aerospace $ 386,343 $ 320,526 $ 692,248 $ 587,206  Industrial 161,906 179,855 326,149 356,069  Total consolidated net sales $ 548,249 $ 500,381 $ 1,018,397 $ 943,275  Segment earnings:  Aerospace $ 72,969 $ 58,227 $ 116,522 $ 105,104  Industrial 10,237 17,089 29,581 35,087  Nonsegment expenses (1) (28,343) (18,764) (47,366) (30,145)  Interest expense, net (6,216) (6,316) (12,603) (12,751)  Consolidated earnings before income taxes $ 48,647 $ 50,236 $ 86,134 $ 97,295 (1) Nonsegment expenses for the three and six-months ended March 31, 2018 includes restructuring charges of $17,013 . See Note 14, Accrued liabilities for further details. 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:      March 31, 2018 September 30, 2017  Segment assets:  Aerospace $ 1,723,472 $ 1,722,789  Industrial 686,329 695,264  Unallocated corporate property, plant and equipment, net 121,216 104,755  Other unallocated assets 254,734 234,301  Consolidated total assets $ 2,785,751 $ 2,757,109 

Subsequent Events

Subsequent Events	6 Months Ended
	Mar. 31, 2018
Subsequent Events [Abstract]
Subsequent Events	  Note 2 2 . Subsequent events On April 9, 2018 , the Company announced that it had signed an agreement to acquire L’Orange GmbH and its related operations located in Germany, the United States and China (“L’Orange”), for total consideration (including cash payments and the assumption of debt and other specified financial obligations) of €700,000 (the “L’Orange Acquisition”). L’Orange is part of Rolls-Royce, specifically its Rolls-Royce Power Systems business. The Company expects to finance the L’Orange Acquisition with borrowings from its revolving credit facility, or debt proceeds from a private placement, or a combination of both. Transaction costs of $1,136 for the three and six-months ending March 31, 2018 are included in selling, general and administrative expenses. L’Orange is a supplier of fuel injection systems for industrial diesel, heavy fuel oil and dual-fuel engines. L’Orange supplies fuel injection technology for engines that power a wide range of industrial applications including marine power and propulsion systems, special-application vehicles, locomotives, oil and gas processing, and power generation. L’Orange serves some of the world’s best known specialist diesel engine manufacturers, including Rol ls-Royce Power Systems’ subsidiaries, MTU Friedrichshafen (“MTU”) and Bergen Engines (“Bergen”) , and other low to high speed engine builders . L’Orange, which will be renamed Woodward L’Orange, will be integrated into the Company’s Industrial segment. L’Orange will remain an important partner and supplier for MTU and Bergen in the future through long-term supply agreements, with an initial term of 15 years . Pending regulatory approval, the L’Orange Acquisition is expected to close in the third quarter of fiscal year 2018. Accordingly, the initial accounti ng for the business combination, including pro forma revenues and earnings of the combined entity , is expected to be included in the Company ’s Form 10-Q for the third fiscal quarter ending June 30, 2018 . On April 18, 2018 , the Company entered into an at-the-money- forward option (the “Forward Option”) at a cost of $5,543 whereby, on May 30, 2018 , the Company has the ability to exercise its op tion to purchase €490,000 on June 1, 2018 using U.S. dollars at a fixed exchange rate of 1.2432 . If the spot rate is below 1.2432 on May 30, 2018, the Company will choose not to exercise the option and any loss on the Forward Option will be limited to $5,543, which is the cost of the instrument . If the spot rate is above 1.2432 on May 30, 2018 , the Company will choose to exercise the option and the gain on the Forward Option will be offset by the cost of the instrument and will be reflected in the Company’s Condensed Consolidated Statement of E arnings in the third fiscal quarter ending June 30, 2018 . The Company is not committed to purchase Euros if the spot rate is below 1.2432 on May 30, 2018 . The Company entered into the Forward Option to manage its exposure to fluctuations in the Euro prior to the anticipated clos e of the L’Orange Acquisition. The Company did not enter into the Forward Option for trading or speculative purposes. 

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Mar. 31, 2018
Earnings Per Share
Reconciliation of Net Earnings to Net Earnings Per Share Basic and Diluted	   Three-Months Ended Six-Months Ended  March 31, March 31,  2018 2017 2018 2017  Numerator:  Net earnings $ 38,489 $ 38,105 $ 56,749 $ 84,653  Denominator:  Basic shares outstanding 61,401 61,310 61,323 61,436  Dilutive effect of stock options and restricted stock 2,349 2,189 2,407 2,157  Diluted shares outstanding 63,750 63,499 63,730 63,593  Income per common share:  Basic earnings per share $ 0.63 $ 0.62 $ 0.93 $ 1.38  Diluted earnings per share $ 0.60 $ 0.60 $ 0.89 $ 1.33 
Anti-dilutive Stock Options Excluded from Computation of Earnings Per Share	   Three-Months Ended Six-Months Ended  March 31, March 31,  2018 2017 2018 2017  Options 764 67 759 2  Weighted-average option price $ 78.73 $ 62.98 $ 78.74 $ 70.39 
Schedule of Treasury Stock Shares Held for Deferred Compensation Included in Basic and Diluted Shares Outstanding	   Three-Months Ended Six-Months Ended  March 31, March 31,  2018 2017 2018 2017  Weighted-average treasury stock shares held for deferred compensation obligations 200 185 195 175 

Financial Instruments and Fai32

Financial Instruments and Fair Value Measurements (Tables)	6 Months Ended
	Mar. 31, 2018
Financial Instruments and Fair Value Measurments
Financial Assets that are Measured at Fair Value on a Recurring Basis	   At March 31, 2018 At September 30, 2017  Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total  Financial assets:  Cash $ 98,646 $ - $ - $ 98,646 $ 79,822 $ - $ - $ 79,822  Investments in reverse repurchase agreements 557 - - 557 1 - - 1  Investments in term deposits with foreign banks 944 - - 944 7,729 - - 7,729  Equity securities 19,050 - - 19,050 16,600 - - 16,600  Total financial assets $ 119,197 $ - $ - $ 119,197 $ 104,152 $ - $ - $ 104,152 
Estimated Fair Values of Financial Instruments	   At March 31, 2018 At September 30, 2017  Fair Value Hierarchy Level Estimated Fair Value Carrying Cost Estimated Fair Value Carrying Cost  Assets:  Notes receivable from municipalities 2 $ 14,506 $ 14,346 $ 15,848 $ 14,507  Investments in short-term time deposits 2 - - 8,227 8,223  Liabilities:  Long-term debt 2 $ (588,701) $ (590,115) $ (592,317) $ (582,080) 

Derivative Instruments and He33

Derivative Instruments and Hedging Activities (Tables)	6 Months Ended
	Mar. 31, 2018
Derivative Instruments and Hedging Activities
Impact of Derivative Instruments on Earnings	   Three-Months Ended March 31, Six-Months Ended March 31,  2018 2017 2018 2017  Amount of income recognized in earnings on derivative $ (18) $ (18) $ (36) $ (36)  Amount of (gain) loss recognized in accumulated OCI on derivative - - - -  Amount of gain reclassified from accumulated OCI into earnings (18) (18) (36) (36) 

Supplemental Statements of Ca34

Supplemental Statements of Cash Flows Information (Tables)	6 Months Ended
	Mar. 31, 2018
Supplemental Statements of Cash Flows Information
Schedule of Cash Flow Supplemental Disclosures	   Six-Months Ended March 31,  2018 2017  Interest paid, net of amounts capitalized $ 14,032 $ 13,999  Income taxes paid 28,592 9,160  Income tax refunds received 1,841 90  Non-cash activities:  Purchases of property, plant and equipment on account 9,051 7,621  Common shares issued from treasury to settle employee liabilities - 1,767  Common shares issued from treasury to settle benefit obligations (Note 18) 14,741 14,014  Cashless exercise of stock options - 1,473 

Accounts Receivable (Tables)

Accounts Receivable (Tables)	6 Months Ended
	Mar. 31, 2018
Accounts Receivable Disclosure
Schedule of Accounts Receivable	   March 31, September 30,  2018 2017  Accounts receivable from:  Customers $ 326,057 $ 367,715  Other (Chinese financial institutions) 42,969 38,243  Allowance for uncollectible customer amounts (3,675) (3,776)  $ 365,351 $ 402,182 

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Mar. 31, 2018
Inventories
Schedule of Inventories	   March 31, September 30,  2018 2017  Raw materials $ 59,171 $ 59,034  Work in progress 111,775 103,790  Component parts (1) 283,489 262,755  Finished goods 54,536 47,926  $ 508,971 $ 473,505 

Property, Plant, and Equipmen37

Property, Plant, and Equipment, Net (Tables)	6 Months Ended
	Mar. 31, 2018
Property, Plant, and Equipment, Net
Schedule of Property Plant and Equipment, Net	   March 31, September 30,  2018 2017  Land and land improvements $ 88,595 $ 88,326  Buildings and building improvements 516,687 514,453  Leasehold improvements 18,303 16,142  Machinery and production equipment 575,695 543,641  Computer equipment and software 122,663 124,723  Office furniture and equipment 24,661 24,308  Other 19,397 19,393  Construction in progress 115,551 111,910  1,481,552 1,442,896  Less accumulated depreciation (538,119) (520,853)  Property, plant, and equipment, net $ 943,433 $ 922,043 
Schedule of Depreciation Expense	   Three-Months Ended Six-Months Ended  March 31, March 31,  2018 2017 2018 2017  Depreciation expense $ 15,754 $ 13,663 $ 30,581 $ 26,118 
Schedule of Capitalized Interest	   Three-Months Ended Six-Months Ended  March 31, March 31,  2018 2017 2018 2017  Capitalized interest $ 633 $ 481 $ 1,234 $ 953 

Goodwill (Tables)

Goodwill (Tables)	6 Months Ended
	Mar. 31, 2018
Goodwill Disclosure
Schedule of Goodwill	   September 30, 2017 Effects of Foreign Currency Translation March 31, 2018  Aerospace $ 455,423 $ - $ 455,423  Industrial 101,122 1,436 102,558  Consolidated $ 556,545 $ 1,436 $ 557,981 

Intangible Assets, Net (Tables)

Intangible Assets, Net (Tables)	6 Months Ended
	Mar. 31, 2018
Intangible Assets, Net
Schedule of Finite-Lived Intangible Assets by Major Class	   March 31, 2018 September 30, 2017  Gross Carrying Value Accumulated Amortization Net Carrying Amount Gross Carrying Value Accumulated Amortization Net Carrying Amount  Customer relationships and contracts:  Aerospace $ 281,683 $ (158,666) $ 123,017 $ 282,225 $ (151,155) $ 131,070  Industrial 41,185 (35,064) 6,121 40,962 (34,407) 6,555  Total $ 322,868 $ (193,730) $ 129,138 $ 323,187 $ (185,562) $ 137,625   Intellectual property:  Aerospace $ - $ - $ - $ - $ - $ -  Industrial 19,723 (18,657) 1,066 19,422 (18,196) 1,226  Total $ 19,723 $ (18,657) $ 1,066 $ 19,422 $ (18,196) $ 1,226   Process technology:  Aerospace $ 76,372 $ (51,881) $ 24,491 $ 76,605 $ (49,124) $ 27,481  Industrial 23,062 (18,635) 4,427 22,950 (17,756) 5,194  Total $ 99,434 $ (70,516) $ 28,918 $ 99,555 $ (66,880) $ 32,675   Other intangibles:  Aerospace $ - $ - $ - $ - $ - $ -  Industrial 1,478 (1,152) 326 1,312 (956) 356  Total $ 1,478 $ (1,152) $ 326 $ 1,312 $ (956) $ 356   Total intangibles:  Aerospace $ 358,055 $ (210,547) $ 147,508 $ 358,830 $ (200,279) $ 158,551  Industrial 85,448 (73,508) 11,940 84,646 (71,315) 13,331  Consolidated Total $ 443,503 $ (284,055) $ 159,448 $ 443,476 $ (271,594) $ 171,882 
Schedule of Finite-Lived Intangible Assets Amortization Expense	   Three-Months Ended Six-Months Ended  March 31, March 31,  2018 2017 2018 2017  Amortization expense $ 6,258 $ 6,431 $ 12,501 $ 12,889 
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	   Year Ending September 30:  2018 (remaining) $ 12,513  2019 23,165  2020 20,407  2021 18,405  2022 16,253  Thereafter 68,705  $ 159,448 

Credit Facilities, Short-term40

Credit Facilities, Short-term Borrowings and Long-term Debt (Tables)	6 Months Ended
	Mar. 31, 2018
Debt Disclosure
Schedule of Long-term Debt	   March 31, September 30,  2018 2017  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 49,279 47,270  Series N notes – 1.31% due September 2028; unsecured 94,861 90,995  Series O notes – 1.57% due September 2031; unsecured 52,975 50,815  Unamortized debt issuance costs (1,654) (1,794)  Total long-term debt 588,461 580,286  Less: Current portion of long-term debt - -  Long-term debt, less current portion $ 588,461 $ 580,286 

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	6 Months Ended
	Mar. 31, 2018
Accrued Liabilities [Line Items]
Accrued Liabilities	    March 31, September 30,  2018 2017  Salaries and other member benefits $ 27,986 $ 91,285  Warranties 13,283 13,597  Interest payable 9,697 9,626  Current portion of acquired performance obligations and unfavorable contracts (1) 1,627 1,627  Accrued retirement benefits 2,379 2,413  Current portion of loss reserve on contractual lease commitments 1,245 1,343  Current portion of deferred income from JV formation (Note 4) 6,427 6,451  Deferred revenues 3,372 4,625  Restructuring charges 17,013 -  Taxes, other than income 17,890 14,401  Other 10,523 9,704  $ 111,442 $ 155,072  (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” in the Condensed Consolidated Balance Sheets.
Warranties	   Three-Months Ended March 31, Six-Months Ended March 31,  2018 2017 2018 2017  Warranties, beginning of period $ 13,017 $ 15,528 $ 13,597 $ 15,993  Expense, net of recoveries 2,334 2,139 304 4,062  Reductions for settling warranties (2,209) (2,750) (832) (4,782)  Foreign currency exchange rate changes 141 124 214 (232)  Warranties, end of period $ 13,283 $ 15,041 $ 13,283 $ 15,041 
Loss Reserve On Contractual Lease Commitments [Member]
Accrued Liabilities [Line Items]
Loss Reserve Activity	   Three-Months Ended March 31, Six-Months Ended March 31,  2018 2017 2018 2017  Loss reserve on contractual lease commitments, beginning of period $ 4,717 $ 8,840 $ 5,270 $ 9,242  Payments, net of sublease income (239) (445) (792) (847)  Loss reserve on contractual lease commitments, end of period $ 4,478 $ 8,395 $ 4,478 $ 8,395 

Other Liabilities (Tables)

Other Liabilities (Tables)	6 Months Ended
	Mar. 31, 2018
Other Liabilities
Schedule of Other Liabilities	   March 31, September 30,  2018 2017  Net accrued retirement benefits, less amounts recognized within accrued liabilities $ 53,234 $ 52,211  Noncurrent portion of deferred income from JV formation (1) 239,275 236,896  Total unrecognized tax benefits 20,684 20,949  Noncurrent income taxes payable (2) 23,920 -  Acquired unfavorable contracts (3) 1,149 2,076  Deferred economic incentives (4) 13,801 14,574  Loss reserve on contractual lease commitments (5) 3,233 3,927  Other 10,850 14,165  $ 366,146 $ 344,798 

Other (Income) Expense, Net (Ta

Other (Income) Expense, Net (Tables)	6 Months Ended
	Mar. 31, 2018
Other (Income) Expense, Net
Schedule of Other (Income) Expense, Net	   Three-Months Ended Six-Months Ended  March 31, March 31,  2018 2017 2018 2017  Equity interest in the earnings of the JV (Note 4) $ (1,006) $ (382) $ (1,602) $ (1,066)  Net (gain) loss on sales of assets (396) 37 (454) (3,662)  Rent income (17) (70) (71) (143)  Net gain on investments in deferred compensation program (46) (705) (700) (729)  Other (148) (195) (358) (303)  $ (1,613) $ (1,315) $ (3,185) $ (5,903) 

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Mar. 31, 2018
Income Taxes
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	   Six-Months Ended  March 31, 2018  Transition tax (provisional) $ 26,000  Net impact on U.S. deferred tax assets and liabilities (provisional) (16,260)  Net changes in deferred tax liability associated with anticipated repatriation taxes (provisional) 5,038  Net discrete impacts of the enactment of the Tax Act $ 14,778 
Tax Expense and Effective Tax Rate	   Three-Months Ended Six-Months Ended  March 31, March 31,  2018 2017 2018 2017  Earnings before income taxes $ 48,647 $ 50,236 $ 86,134 $ 97,295  Income tax expense 10,158 12,131 29,385 12,642  Effective tax rate 20.9% 24.1% 34.1% 13.0% 

Retirement Benefits (Tables)

Retirement Benefits (Tables)	6 Months Ended
	Mar. 31, 2018
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Schedule of Estimated Remaining Cash Contributions	   Retirement pension benefits:  United States $ -  United Kingdom 219  Japan -  Other postretirement benefits 2,636 
Defined Benefit Pension Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Schedule of Net Periodic Benefit Costs	   Three-Months Ended March 31,  United States Other Countries Total  2018 2017 2018 2017 2018 2017  Service cost $ 411 $ 418 $ 165 $ 187 $ 576 $ 605  Interest cost 1,501 1,439 344 296 1,845 1,735  Expected return on plan assets (2,903) (2,633) (717) (638) (3,620) (3,271)  Amortization of:  Net actuarial loss 149 463 75 126 224 589  Prior service cost 178 96 - - 178 96  Net periodic retirement pension benefit $ (664) $ (217) $ (133) $ (29) $ (797) $ (246)  Contributions paid $ - $ - $ 119 $ 101 $ 119 $ 101    Six-Months Ended March 31,  United States Other Countries Total  2018 2017 2018 2017 2018 2017  Service cost $ 822 $ 837 $ 323 $ 379 $ 1,145 $ 1,216  Interest cost 3,002 2,878 673 592 3,675 3,470  Expected return on plan assets (5,807) (5,265) (1,403) (1,279) (7,210) (6,544)  Amortization of:  Net actuarial loss 299 927 147 253 446 1,180  Prior service cost 355 192 - - 355 192  Net periodic retirement pension benefit $ (1,329) $ (431) $ (260) $ (55) $ (1,589) $ (486)  Contributions paid $ - $ - $ 431 $ 466 $ 431 $ 466 
Defined Contribution Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Schedule of Costs of Retirement Plans	   Three-Months Ended Six-Months Ended  March 31, March 31,  2018 2017 2018 2017  Company costs $ 8,716 $ 8,502 $ 16,595 $ 15,751 
Other Postretirement Benefit Plans [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Schedule of Net Periodic Benefit Costs	   Three-Months Ended Six-Months Ended  March 31, March 31,  2018 2017 2018 2017  Service cost $ 2 $ 3 $ 4 $ 7  Interest cost 291 311 583 622  Amortization of:  Net actuarial loss 24 51 48 101  Prior service benefit (39) (39) (79) (79)  Curtailment gain - - (330) -  Net periodic other postretirement cost $ 278 $ 326 $ 226 $ 651  Contributions paid $ 1,009 $ 804 $ 1,235 $ 1,419 
Multiemployer Plans, Pension [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Schedule of Costs of Retirement Plans	   Three-Months Ended Six-Months Ended  March 31, March 31,  2018 2017 2018 2017  Company contributions $ 87 $ 79 $ 167 $ 147 

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Mar. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	   Three-Months Ended Six-Months Ended  March 31, March 31,  2018 2017 2018 2017  Weighted-average exercise price per share $ 72.01 $ 62.64 $ 78.91 $ 62.64  Weighted-average grant date market value of Woodward stock $ 72.01 $ 69.45 $ 78.91 $ 69.45  Expected term (years) 6.4 6.0 - 8.7 6.4 - 8.7 6.0 - 8.7  Estimated volatility 29.1% 31.5% - 33.7% 29.1% - 32.7% 31.5% - 33.7%  Estimated dividend yield 0.8% 0.7% 0.6% - 0.8% 0.7%  Risk-free interest rate 2.7% - 2.8% 2.2% - 2.5% 2.1% - 2.8% 2.2% - 2.5% 
Activity for Stock Option Awards	   Three-Months Ended Six-Months Ended  March 31, 2018 March 31, 2018  Number of options Weighted-Average Exercise Price per Share Number of options Weighted-Average Exercise Price per Share  Options, beginning balance 5,937 $ 44.48 5,236 $ 39.58  Options granted 6 72.01 750 78.91  Options exercised (63) 34.54 (97) 36.84  Options forfeited - - (9) 55.61  Options, ending balance 5,880 44.62 5,880 44.62 
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 5,880 $ 44.62 5.9 $ 155,908  Options vested and exercisable 3,858 35.68 4.6 132,401  Options vested and expected to vest 5,782 44.25 5.9 155,118 
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Changes in Nonvested Stock Options	   Three-Months Ended Six-Months Ended  March 31, 2018 March 31, 2018  Number of options Weighted-Average Grant Date Fair Value per Share Number of options Weighted-Average Grant Date Fair Value Per Share  Options outstanding, beginning balance 2,020 $ 21.63 2,072 $ 18.61  Options granted 6 22.82 750 25.66  Options vested (4) 23.10 (791) 17.57  Options forfeited - - (9) 19.82  Options outstanding, ending balance 2,022 21.63 2,022 21.63 

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Mar. 31, 2018
Segment Information
Consolidated Net Sales and Earnings by Segment	   Three-Months Ended Six-Months Ended  March 31, March 31,  2018 2017 2018 2017  Segment external net sales:  Aerospace $ 386,343 $ 320,526 $ 692,248 $ 587,206  Industrial 161,906 179,855 326,149 356,069  Total consolidated net sales $ 548,249 $ 500,381 $ 1,018,397 $ 943,275  Segment earnings:  Aerospace $ 72,969 $ 58,227 $ 116,522 $ 105,104  Industrial 10,237 17,089 29,581 35,087  Nonsegment expenses (1) (28,343) (18,764) (47,366) (30,145)  Interest expense, net (6,216) (6,316) (12,603) (12,751)  Consolidated earnings before income taxes $ 48,647 $ 50,236 $ 86,134 $ 97,295 
Consolidated Total Assets by Segment	   March 31, 2018 September 30, 2017  Segment assets:  Aerospace $ 1,723,472 $ 1,722,789  Industrial 686,329 695,264  Unallocated corporate property, plant and equipment, net 121,216 104,755  Other unallocated assets 254,734 234,301  Consolidated total assets $ 2,785,751 $ 2,757,109 

Recent Accounting Pronouncement

Recent Accounting Pronouncements (Narrative) (Details) $ in Thousands	12 Months Ended
	Sep. 30, 2017USD ($)
Recent Accounting Pronouncements
Rent expense for all operating leases	$ 8,302
Future minimum rental payments required under operating leases	$ 23,215

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		6 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017
Earnings Per Share
Net earnings	$ 38,489	$ 38,105	$ 56,749	$ 84,653
Basic shares outstanding	61,401	61,310	61,323	61,436
Dilutive effect of stock options and restricted stock	2,349	2,189	2,407	2,157
Diluted shares outstanding	63,750	63,499	63,730	63,593
Basic earnings per share	$ 0.63	$ 0.62	$ 0.93	$ 1.38
Diluted earnings per share	$ 0.60	$ 0.60	$ 0.89	$ 1.33

Earnings Per Share (Anti-diluti

Earnings Per Share (Anti-dilutive Stock Options Excluded from Computation of Earnings Per Share) (Details) - $ / shares shares in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017
Earnings Per Share
Options	764	67	759	2
Weighted-average option price	$ 78.73	$ 62.98	$ 78.74	$ 70.39

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		6 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017
Earnings Per Share
Weighted-average treasury stock shares held for deferred compensation obligations	200	185	195	175

Joint Ventures (Narrative) (Det

Joint Ventures (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017	Sep. 30, 2016	Sep. 30, 2017	Jan. 04, 2016
Schedule of Equity Method Investments [Line Items]
Current portion of deferred income recorded in connection with joint venture	$ 6,427		$ 6,427			$ 6,451
Noncurrent portion of deferred income recorded in connection with joint venture	239,275		239,275			236,896
Equity interest in earnings (losses) of joint venture	$ 1,006	$ 382	$ 1,602	$ 1,066
Woodward and General Electric Joint Venture [Member]
Schedule of Equity Method Investments [Line Items]
Agreement to Form Joint Venture, Execution Date					Jan. 4, 2016
Equity Method Investment, Ownership Percentage	50.00%		50.00%
Cash received from formation of joint venture					$ 250,000
Cash 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	6,427		$ 6,427			6,451
Noncurrent portion of deferred income recorded in connection with joint venture	239,275		239,275			236,896
Equity interest in earnings (losses) of joint venture	1,006	382	1,602	1,066
Cash distributions from joint venture			0	2,500
Net investment in joint venture	7,874		7,874			6,272
Accounts receivable from related party	9,755		9,755			8,554
Accounts payable to related party	6,420		6,420			$ 6,741
Woodward and General Electric Joint Venture [Member] | Sales [Member]
Schedule of Equity Method Investments [Line Items]
Amortization of deferred income recognized as an increase to sales	1,486	1,632	2,539	3,128
Sales to related party	17,077	18,415	30,052	33,717
Reduction to sales related to royalties paid to joint venture	6,922	$ 5,674	$ 12,330	$ 11,077
Woodward and General Electric Joint Venture [Member] | Scenario, Forecast [Member]
Schedule of Equity Method Investments [Line Items]
Cash received annually from formation of joint venture	$ 4,894

Financial Instruments and Fai53

Financial Instruments and Fair Value Measurements (Narrative) (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Mar. 31, 2018	Sep. 30, 2017
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Financial liability on recurring basis	$ 0
Investments in Short-Term Time Deposits [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Interest rate used to estimate fair value		5.30%
Long Term Notes Receivable From Municipalities [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Interest rate used to estimate fair value	2.80%	2.60%
Long-Term Debt [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Interest rate used to estimate fair value	2.80%	2.40%

Financial Instruments and Fai54

Financial Instruments and Fair Value Measurements (Financial Assets that are Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Sep. 30, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financial assets	$ 119,197	$ 104,152
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financial assets	119,197	104,152
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financial assets	0	0
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financial assets	0	0
Cash [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	98,646	79,822
Cash [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	98,646	79,822
Cash [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Cash [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Investments in Reverse Repurchase Agreements [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	557	1
Investments in Reverse Repurchase Agreements [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	557	1
Investments in Reverse Repurchase Agreements [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Investments in Reverse Repurchase Agreements [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Investments in Term Deposits with Foreign Banks [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	944	7,729
Investments in Term Deposits with Foreign Banks [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	944	7,729
Investments in Term Deposits with Foreign Banks [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Investments in Term Deposits with Foreign Banks [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	19,050	16,600
Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	19,050	16,600
Equity Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Equity Securities [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	$ 0	$ 0

Financial Instruments and Fai55

Financial Instruments and Fair Value Measurements (Estimated Fair Values of Financial Instruments) (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Sep. 30, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes receivable from municipalities, Carrying Cost	$ 14,346	$ 14,507
Investments in short-term time deposits, Carrying Cost	0	8,223
Long-term debt, excluding current portion, Carrying Cost	(590,115)	(582,080)
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes receivable from municipalities, Estimated Fair Value	14,506	15,848
Investments in short-term time deposits, Estimated Fair Value	0	8,227
Long-term debt, excluding current portion, Estimated Fair Value	$ (588,701)	$ (592,317)

Derivative Instruments and He56

Derivative Instruments and Hedging Activities (Narrative) (Details) € in Thousands, ¥ in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2018USD ($)	Mar. 31, 2017USD ($)	Mar. 31, 2018USD ($)	Mar. 31, 2017USD ($)	Mar. 31, 2018EUR (€)	Sep. 30, 2017CNY (¥)	Sep. 30, 2017USD ($)
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Accumulated OCI on Derivative	$ 0	$ 0	$ 0	$ 0
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
Face Amount | €					€ 160,000
EUR Denominated Loan [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on foreign currency transaction designated as a hedge of a net investment in a foreign subsidiary	$ (1,268)	(664)	(2,011)	$ 2,150
Intercompany Loan [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on foreign currency transaction designated as a hedge of a net investment in a foreign subsidiary		$ 281	735
Value of Net Investment Hedging Instruments Used | ¥						¥ 160,000
Total Accumulated Other Comprehensive (Loss) Earnings [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Unrecognized gains (loss)	$ 182		$ 182				$ 218
Series D Notes [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Issuance Date			Oct. 1, 2008
Series F Notes [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Issuance Date			Apr. 1, 2009
2013 Note Purchase Agreement [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Issuance Date	Oct. 1, 2013
Face Amount	$ 250,000		$ 250,000
First Closing Notes [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Issuance Date			Oct. 1, 2013
Second Closing Notes [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Issuance Date			Nov. 15, 2013
2016 Note Purchase Agreements [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Issuance Date	Sep. 23, 2016		Sep. 23, 2016
Face Amount | €					160,000
Series M Notes [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Face Amount | €					40,000
Series N Notes [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Face Amount | €					77,000
Series O Notes [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Face Amount | €					€ 43,000

Derivative Instruments and He57

Derivative Instruments and Hedging Activities (Impact of Derivative Instruments on Earnings) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017
Derivative Instruments and Hedging Activities
Amount of (Income) Expense Recognized in Earnings on Derivative	$ (18)	$ (18)	$ (36)	$ (36)
Amount of (Gain) Loss Recognized in Accumulated OCI on Derivative	0	0	0	0
Amount of (Gain) Loss Reclassified from Accumulated OCI into Earnings	$ (18)	$ (18)	$ (36)	$ (36)

Supplemental Statements of Ca58

Supplemental Statements of Cash Flows Information (Schedule of Cash Flow Supplemental Disclosures) (Details) - USD ($) $ in Thousands	6 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Supplemental Statements of Cash Flows Information
Interest paid, net of amounts capitalized	$ 14,032	$ 13,999
Income taxes paid	28,592	9,160
Income tax refunds received	1,841	90
Purchases of property, plant and equipment on account	9,051	7,621
Common shares issued from treasury stock to settle employee liabilities	0	1,767
Common shares issued from treasury stock for benefit plans	14,741	14,014
Cashless exercise of stock options	$ 0	$ 1,473

Accounts Receivable (Schedule o

Accounts Receivable (Schedule of Accounts Receivable) (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Sep. 30, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for uncollectible customer amounts	$ (3,675)	$ (3,776)
Accounts receivable	365,351	402,182
Trade Accounts Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, Gross	326,057	367,715
Accounts Receivable from Chinese Financial Institution [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, Gross	$ 42,969	$ 38,243

Inventories (Schedule of Invent

Inventories (Schedule of Inventories) (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Sep. 30, 2017
Inventories
Raw Materials	$ 59,171	$ 59,034
Work in progress	111,775	103,790
Component Parts	283,489	262,755
Finished Goods	54,536	47,926
Inventory, net	$ 508,971	$ 473,505

Property, Plant, and Equipmen61

Property, Plant, and Equipment, Net (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017	Sep. 30, 2017
Property, Plant and Equipment [Line Items]
Land, land improvements, and building improvements held for use	$ 7,604		$ 7,604		$ 0
Property, plant and equipment remaining	13,200		13,200
Depreciation expense	15,754	$ 13,663	30,581	$ 26,118
Second Campus Rockford Illinois [Member]
Property, Plant and Equipment [Line Items]
Construction in progress	40,792		40,792		49,347
Drake Campus Fort Collins Colorado Member
Property, Plant and Equipment [Line Items]
Construction in progress	29,644		29,644		15,584
Office furniture and equipment [Member]
Property, Plant and Equipment [Line Items]
Gross assets acquired on capital leases	1,653		1,653
Accumulated depreciation on capital lease assets	$ 948		$ 948		$ 739

Property, Plant, and Equipmen62

Property, Plant, and Equipment, Net (Property, Plant, and Equipment - Net) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017	Sep. 30, 2017
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 1,481,552		$ 1,481,552		$ 1,442,896
Less accumulated depreciation	(538,119)		(538,119)		(520,853)
Property, Plant and Equipment, Net, Total	943,433		943,433		922,043
Depreciation expense	15,754	$ 13,663	30,581	$ 26,118
Capitalized interest	633	$ 481	1,234	$ 953
Land and Land Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	88,595		88,595		88,326
Building and Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	516,687		516,687		514,453
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	18,303		18,303		16,142
Machinery and Equipment, Excluding Computer and Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	575,695		575,695		543,641
Computer Equipment and Software [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	122,663		122,663		124,723
Office furniture and equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	24,661		24,661		24,308
Other Capitalized Property Plant and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	19,397		19,397		19,393
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 115,551		$ 115,551		$ 111,910

Goodwill (Goodwill) (Details)

Goodwill (Goodwill) (Details) $ in Thousands	6 Months Ended
	Mar. 31, 2018USD ($)
Goodwill [Line Items]
Goodwill, Beginning Balance	$ 556,545
Effects of Currency Translation	1,436
Goodwill, Ending Balance	557,981
Aerospace [Member]
Goodwill [Line Items]
Goodwill, Beginning Balance	455,423
Effects of Currency Translation	0
Goodwill, Ending Balance	455,423
Industrial [Member]
Goodwill [Line Items]
Goodwill, Beginning Balance	101,122
Effects of Currency Translation	1,436
Goodwill, Ending Balance	$ 102,558

Intangible Assets, Net (Schedul

Intangible Assets, Net (Schedule of Finite-Lived Intangible Assets by Major Class) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017	Sep. 30, 2017
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 443,503		$ 443,503		$ 443,476
Accumulated Amortization	(284,055)		(284,055)		(271,594)
Net Carrying Amount	159,448		159,448		171,882
Amortization expense	6,258	$ 6,431	12,501	$ 12,889
Process Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	99,434		99,434		99,555
Accumulated Amortization	(70,516)		(70,516)		(66,880)
Net Carrying Amount	28,918		28,918		32,675
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	322,868		322,868		323,187
Accumulated Amortization	(193,730)		(193,730)		(185,562)
Net Carrying Amount	129,138		129,138		137,625
Intellectual Property [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	19,723		19,723		19,422
Accumulated Amortization	(18,657)		(18,657)		(18,196)
Net Carrying Amount	1,066		1,066		1,226
Other Intangibles [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	1,478		1,478		1,312
Accumulated Amortization	(1,152)		(1,152)		(956)
Net Carrying Amount	326		326		356
Aerospace [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	358,055		358,055		358,830
Accumulated Amortization	(210,547)		(210,547)		(200,279)
Net Carrying Amount	147,508		147,508		158,551
Aerospace [Member] | Process Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	76,372		76,372		76,605
Accumulated Amortization	(51,881)		(51,881)		(49,124)
Net Carrying Amount	24,491		24,491		27,481
Aerospace [Member] | Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	281,683		281,683		282,225
Accumulated Amortization	(158,666)		(158,666)		(151,155)
Net Carrying Amount	123,017		123,017		131,070
Aerospace [Member] | Intellectual Property [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	0		0		0
Accumulated Amortization	0		0		0
Net Carrying Amount	0		0		0
Aerospace [Member] | Other Intangibles [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	0		0		0
Accumulated Amortization	0		0		0
Net Carrying Amount	0		0		0
Industrial [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	85,448		85,448		84,646
Accumulated Amortization	(73,508)		(73,508)		(71,315)
Net Carrying Amount	11,940		11,940		13,331
Industrial [Member] | Process Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	23,062		23,062		22,950
Accumulated Amortization	(18,635)		(18,635)		(17,756)
Net Carrying Amount	4,427		4,427		5,194
Industrial [Member] | Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	41,185		41,185		40,962
Accumulated Amortization	(35,064)		(35,064)		(34,407)
Net Carrying Amount	6,121		6,121		6,555
Industrial [Member] | Intellectual Property [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	19,723		19,723		19,422
Accumulated Amortization	(18,657)		(18,657)		(18,196)
Net Carrying Amount	1,066		1,066		1,226
Industrial [Member] | Other Intangibles [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	1,478		1,478		1,312
Accumulated Amortization	(1,152)		(1,152)		(956)
Net Carrying Amount	$ 326		$ 326		$ 356

Intangible Assets, Net (Sched65

Intangible Assets, Net (Schedule of Finite-Lived Intangible Assets, Future Amortization Expense) (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Sep. 30, 2017
Intangible Assets, Net
Future Amortization Expense, Remainder of Fiscal Year	$ 12,513
2,019	23,165
2,020	20,407
2,021	18,405
2,022	16,253
Thereafter	68,705
Finite-Lived Intangible Assets, Net, Total	$ 159,448	$ 171,882

Credit Facilities and Short-ter

Credit Facilities and Short-term Borrowings (Narrative) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Sep. 30, 2017
Foreign Lines of Credit And Overdraft Facilities [Member]
Debt And Line Of Credit Facility [Line Items]
Outstanding borrowings	$ 0
Revolving Credit Agreement [Member]
Debt And Line Of Credit Facility [Line Items]
Maximum borrowing capacity	1,000,000,000
Option to increase maximum borrowings to this amount	$ 1,200,000,000
Line of Credit Facility, Expiration Date	Apr. 1, 2020
Variable Rate Basis	LIBOR
Credit facility effective interest rate on outstanding borrowing	3.28%	2.29%
Outstanding borrowings	$ 41,930,000	$ 32,600,000
Minimum [Member] | Revolving Credit Agreement [Member]
Debt And Line Of Credit Facility [Line Items]
Basis Spread On Variable Rate	0.85%
Maximum [Member] | Revolving Credit Agreement [Member]
Debt And Line Of Credit Facility [Line Items]
Basis Spread On Variable Rate	1.65%

Long-term Debt (Narrative) (Det

Long-term Debt (Narrative) (Details) € in Thousands	3 Months Ended	6 Months Ended
	Mar. 31, 2018USD ($)	Mar. 31, 2018USD ($)	Mar. 31, 2018EUR (€)	Sep. 30, 2017USD ($)
Debt Instrument [Line Items]
Face Amount | €			€ 160,000
Balance of unamortized debt issuance costs	$ 1,654,000	$ 1,654,000		$ 1,794,000
The Notes [Member]
Debt Instrument [Line Items]
Balance of unamortized debt issuance costs	$ 1,654,000	1,654,000		1,794,000
2013 Note Purchase Agreement [Member]
Debt Instrument [Line Items]
Issuance Date	Oct. 1, 2013
Face Amount	$ 250,000,000	$ 250,000,000
Series J Notes [Member]
Debt Instrument [Line Items]
Variable interest rate	3.12%	3.12%	3.12%
First Closing Notes [Member]
Debt Instrument [Line Items]
Issuance Date		Oct. 1, 2013
Second Closing Notes [Member]
Debt Instrument [Line Items]
Issuance Date		Nov. 15, 2013
Series D Notes [Member]
Debt Instrument [Line Items]
Issuance Date		Oct. 1, 2008
Series F Notes [Member]
Debt Instrument [Line Items]
Issuance Date		Apr. 1, 2009
2016 Note Purchase Agreements [Member]
Debt Instrument [Line Items]
Issuance Date	Sep. 23, 2016	Sep. 23, 2016
Face Amount | €			€ 160,000
Series M Notes [Member]
Debt Instrument [Line Items]
Face Amount | €			40,000
Series N Notes [Member]
Debt Instrument [Line Items]
Face Amount | €			77,000
Series O Notes [Member]
Debt Instrument [Line Items]
Face Amount | €			€ 43,000
Foreign Lines of Credit And Overdraft Facilities [Member]
Debt Instrument [Line Items]
Outstanding borrowings	$ 0	$ 0
Revolving Credit Agreement [Member]
Debt Instrument [Line Items]
Variable Rate Basis	LIBOR
Line of Credit Facility, Expiration Date	Apr. 1, 2020
Line of Credit Facility, Maximum Borrowing Capacity	$ 1,000,000,000	1,000,000,000
Outstanding borrowings	$ 41,930,000	$ 41,930,000		$ 32,600,000
Credit facility effective interest rate on outstanding borrowing	3.28%	3.28%	3.28%	2.29%
Revolving Credit Agreement [Member] | Minimum [Member]
Debt Instrument [Line Items]
Basis Spread On Variable Rate	0.85%
Revolving Credit Agreement [Member] | Maximum [Member]
Debt Instrument [Line Items]
Basis Spread On Variable Rate	1.65%

Long-term Debt (Schedule of Lon

Long-term Debt (Schedule of Long-term Debt) (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2018	Sep. 30, 2017
Debt Instrument [Line Items]
Unamortized debt issuance costs	$ (1,654)	$ (1,654)	$ (1,794)
Long-term debt, excluding current portion	588,461	588,461	580,286
Notes Payable to Banks [Member]
Debt Instrument [Line Items]
Long-term Debt	588,461	588,461	580,286
Current portion of long-term debt	0	0	0
Long-term debt, excluding current portion	$ 588,461	$ 588,461	$ 580,286
Series D Notes [Member] | Notes Payable to Banks [Member]
Debt Instrument [Line Items]
Interest rate	6.39%	6.39%	6.39%
Maturity date		Oct. 1, 2018	Oct. 1, 2018
Long-term Debt	$ 100,000	$ 100,000	$ 100,000
Series F Notes [Member] | Notes Payable to Banks [Member]
Debt Instrument [Line Items]
Interest rate	8.24%	8.24%	8.24%
Maturity date		Apr. 3, 2019	Apr. 3, 2019
Long-term Debt	$ 43,000	$ 43,000	$ 43,000
Series J Notes [Member]
Debt Instrument [Line Items]
Variable interest rate	3.12%	3.12%
Variable interest rate	3.12%	3.12%
Series J Notes [Member] | Notes Payable to Banks [Member]
Debt Instrument [Line Items]
Basis Spread On Variable Rate		1.25%	1.25%
Maturity date		Nov. 15, 2020	Nov. 15, 2020
Long-term Debt	$ 50,000	$ 50,000	$ 50,000
Series G Notes [Member] | Notes Payable to Banks [Member]
Debt Instrument [Line Items]
Interest rate	3.42%	3.42%	3.42%
Maturity date		Nov. 15, 2020	Nov. 15, 2020
Long-term Debt	$ 50,000	$ 50,000	$ 50,000
Series H Notes [Member] | Notes Payable to Banks [Member]
Debt Instrument [Line Items]
Interest rate	4.03%	4.03%	4.03%
Maturity date		Nov. 15, 2023	Nov. 15, 2023
Long-term Debt	$ 25,000	$ 25,000	$ 25,000
Series I Notes [Member] | Notes Payable to Banks [Member]
Debt Instrument [Line Items]
Interest rate	4.18%	4.18%	4.18%
Maturity date		Nov. 15, 2025	Nov. 15, 2025
Long-term Debt	$ 25,000	$ 25,000	$ 25,000
Series K Notes [Member] | Notes Payable to Banks [Member]
Debt Instrument [Line Items]
Interest rate	4.03%	4.03%	4.03%
Maturity date		Nov. 15, 2023	Nov. 15, 2023
Long-term Debt	$ 50,000	$ 50,000	$ 50,000
Series L Notes [Member] | Notes Payable to Banks [Member]
Debt Instrument [Line Items]
Interest rate	4.18%	4.18%	4.18%
Maturity date		Nov. 15, 2025	Nov. 15, 2025
Long-term Debt	$ 50,000	$ 50,000	$ 50,000
Series M Notes [Member] | Notes Payable to Banks [Member]
Debt Instrument [Line Items]
Interest rate	1.12%	1.12%	1.12%
Maturity date		Sep. 23, 2026	Sep. 23, 2026
Long-term Debt	$ 49,279	$ 49,279	$ 47,270
Series N Notes [Member] | Notes Payable to Banks [Member]
Debt Instrument [Line Items]
Interest rate	1.31%	1.31%	1.31%
Maturity date		Sep. 23, 2028	Sep. 23, 2028
Long-term Debt	$ 94,861	$ 94,861	$ 90,995
Series O Notes [Member] | Notes Payable to Banks [Member]
Debt Instrument [Line Items]
Interest rate	1.57%	1.57%	1.57%
Maturity date		Sep. 23, 2031	Sep. 23, 2031
Long-term Debt	$ 52,975	$ 52,975	$ 50,815
Revolving Credit Agreement [Member]
Debt Instrument [Line Items]
Variable Rate Basis	LIBOR
Revolving Credit Agreement [Member] | Minimum [Member]
Debt Instrument [Line Items]
Basis Spread On Variable Rate	0.85%
Revolving Credit Agreement [Member] | Maximum [Member]
Debt Instrument [Line Items]
Basis Spread On Variable Rate	1.65%

Accrued Liabilities (Narrative)

Accrued Liabilities (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017	Sep. 30, 2018	Sep. 30, 2017
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	$ 17,013	$ 0	$ 17,013	$ 0
Loss Reserve On Contractual Lease Commitments [Member]
Restructuring Cost and Reserve [Line Items]
Loss reserve, noncurrent portion	$ 3,233		3,233			$ 3,927
Duarte Relocation Restructuring Charges
Restructuring Cost and Reserve [Line Items]
Restructuring Charges			12,504
Restructuring and Related Cost, Expected Cost Remaining					$ 12,000
Industrial Restructuring Charges
Restructuring Cost and Reserve [Line Items]
Restructuring Charges			$ 4,509

Accrued Liabilities (Accrued Li

Accrued Liabilities (Accrued Liabilities) (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016
Accrued Liabilities [Line Items]
Salaries and other member benefits	$ 27,986		$ 91,285
Warranties	13,283	$ 13,017	13,597	$ 15,041	$ 15,528	$ 15,993
Interest payable	9,697		9,626
Current portion of acquired performance obligations and unfavorable contracts	1,627		1,627
Accrued retirement benefits	2,379		2,413
Restructuring Reserve, Current	17,013
Current portion of deferred income from JV formation (Note 4)	6,427		6,451
Deferred revenues	3,372		4,625
Taxes, other than income	17,890		14,401
Other	10,523		9,704
Accrued liabilities	111,442		155,072
Loss Reserve On Contractual Lease Commitments [Member]
Accrued Liabilities [Line Items]
Restructuring Reserve, Current	$ 1,245		$ 1,343

Accrued Liabilities (Warranties

Accrued Liabilities (Warranties) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017
Accrued Liabilities
Warranties, beginning of period	$ 13,017	$ 15,528	$ 13,597	$ 15,993
Warranty Expense, net of recoveries	2,334	2,139	304	4,062
Reductions for settling warranties	(2,209)	(2,750)	(832)	(4,782)
Foreign currency exchange rate changes	141	124	214	(232)
Warranties, end of period	$ 13,283	$ 15,041	$ 13,283	$ 15,041

Accrued Liabilities (Loss Reser

Accrued Liabilities (Loss Reserve Activity) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017	Sep. 30, 2017
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	$ 17,013	$ 0	$ 17,013	$ 0
Loss Reserve On Contractual Lease Commitments [Member]
Restructuring Cost and Reserve [Line Items]
Loss reserve on contractual lease commitments, beginning of period	4,717	8,840	5,270	9,242
Payments, net of sublease income	(239)	(445)	(792)	(847)
Loss reserve on contractual lease commitments, end of period	4,478	$ 8,395	4,478	$ 8,395
Loss reserve, noncurrent portion	$ 3,233		$ 3,233		$ 3,927

Other Liabilities (Details)

Other Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Sep. 30, 2017
Other Liabilities [Line Items]
Net accrued retirement benefits, less amounts recognized within accrued liabilities	$ 53,234	$ 52,211
Noncurrent portion of deferred income from JV formation	239,275	236,896
Total unrecognized tax benefits, net of offsetting adjustments	20,684	20,949
Noncurrent income taxes payable	23,920	0
Acquired unfavorable contracts	1,149	2,076
Deferred economic incentives	13,801	14,574
Other	10,850	14,165
Other liabilities	366,146	344,798
Loss Reserve On Contractual Lease Commitments [Member]
Other Liabilities [Line Items]
Loss reserve	$ 3,233	$ 3,927

Other (Income) Expense, Net (De

Other (Income) Expense, Net (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017
Other (Income) Expense, Net
Equity interest in losses (earnings) of the JV (Note 4)	$ (1,006)	$ (382)	$ (1,602)	$ (1,066)
Net (gain) loss on sales of assets	(396)	37	(454)	(3,662)
Rent income	(17)	(70)	(71)	(143)
Net (gain) loss on investments in deferred compensation program	(46)	(705)	(700)	(729)
Other	(148)	(195)	(358)	(303)
Other (income) expense, net	$ (1,613)	$ (1,315)	$ (3,185)	$ (5,903)

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2018	Sep. 30, 2018	Sep. 30, 2018	Sep. 30, 2017
Income Taxes [Line Items]
Net discrete impacts of the enactment of the Tax Act	$ 0	$ 14,778	$ 14,778
Total Accrued Transition Tax Liability	26,000		26,000
Current Accrued Transition Tax Liability	2,080		2,080
Noncurrent Accrued Transition Tax Liability	23,920		23,920
Noncurrent income taxes payable	23,920		23,920			$ 0
Statutory tax rate		35.00%		21.00%	24.50%
Unrecognized Tax Benefits	19,574		19,574			20,132
Estimated decrease in liability for unrecognized tax benefits	8,901		8,901
Unrecognized tax benefits that, if recognized, would affect the effective tax rate	9,176		9,176			9,677
Accrued interest and penalties	$ 1,372		$ 1,372			$ 1,123
Scenario, Forecast [Member]
Income Taxes [Line Items]
Statutory tax rate			21.00%

Income Taxes (Tax Expense and E

Income Taxes (Tax Expense and Effective Tax Rate) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017
Income Taxes
Earnings before income taxes	$ 48,647	$ 50,236	$ 86,134	$ 97,295
Income tax expense	$ 10,158	$ 12,131	$ 29,385	$ 12,642
Effective tax rate	20.90%	24.10%	34.10%	13.00%

Income Taxes (Net Discrete Impa

Income Taxes (Net Discrete Impact of Tax Act) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2018
Income Taxes
Transition Tax			$ 26,000
Impact on U.S. deferred tax assets and liabilities			(16,260)
Net changes in deferred tax liability associated with anticipated repatriation taxes			5,038
Net discrete impacts of the enactment of the Tax Act	$ 0	$ 14,778	$ 14,778

Retirement Benefits (Narrative)

Retirement Benefits (Narrative) (Details) - USD ($) shares in Thousands	3 Months Ended	6 Months Ended
	Mar. 31, 2018	Mar. 31, 2018	Mar. 31, 2017
Defined Benefit Plan Disclosure [Line Items]
Value of Company Stock Contributed to Defined Contribution Benefit Plans		$ 14,741,000	$ 14,014,000
Treasury Stock Issued During Period, Shares, Employee Benefit Plans		202	199
Total stockholders equity
Defined Benefit Plan Disclosure [Line Items]
Value of Company Stock Contributed to Defined Contribution Benefit Plans		$ 14,741,000	$ 14,014,000
Treasury Stock at Cost [Member]
Defined Benefit Plan Disclosure [Line Items]
Value of Company Stock Contributed to Defined Contribution Benefit Plans		$ 7,584,000	$ 7,513,000
Treasury Stock Issued During Period, Shares, Employee Benefit Plans		202	199
Duarte Plan, Defined Benefit [Member] | Defined Benefit Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit, Lump Sum Buyout Benefits Paid, Current Year			$ 670,000
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		6 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017
Retirement Benefits [Abstract]
Company Costs - Defined Contribution	$ 8,716	$ 8,502	$ 16,595	$ 15,751
Company Contributions - Multiemployer plan	$ 87	$ 79	$ 167	$ 147

Retirement Benefits (Schedule80

Retirement Benefits (Schedule of Net Periodic Benefit Costs) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017
Other Postretirement Benefit Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 2	$ 3	$ 4	$ 7
Interest cost	291	311	583	622
Amortization of: Net (gains) losses	24	51	48	101
Amortization of: Prior service (benefit) cost	(39)	(39)	(79)	(79)
Curtailment (gain) loss			(330)
Net periodic retirement (benefit) cost	278	326	226	651
Contributions paid - other postretirement plans	1,009	804	1,235	1,419
Defined Benefit Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	576	605	1,145	1,216
Interest cost	1,845	1,735	3,675	3,470
Expected return on plan assets	(3,620)	(3,271)	(7,210)	(6,544)
Amortization of: Net (gains) losses	224	589	446	1,180
Amortization of: Prior service (benefit) cost	178	96	355	192
Net periodic retirement (benefit) cost	(797)	(246)	(1,589)	(486)
Contributions paid - pensions	119	101	431	466
Defined Benefit Pension Plan [Member] | UNITED STATES
Defined Benefit Plan Disclosure [Line Items]
Service cost	411	418	822	837
Interest cost	1,501	1,439	3,002	2,878
Expected return on plan assets	(2,903)	(2,633)	(5,807)	(5,265)
Amortization of: Net (gains) losses	149	463	299	927
Amortization of: Prior service (benefit) cost	178	96	355	192
Net periodic retirement (benefit) cost	(664)	(217)	(1,329)	(431)
Contributions paid - pensions	0	0	0	0
Defined Benefit Pension Plan [Member] | Foreign Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	165	187	323	379
Interest cost	344	296	673	592
Expected return on plan assets	(717)	(638)	(1,403)	(1,279)
Amortization of: Net (gains) losses	75	126	147	253
Amortization of: Prior service (benefit) cost	0	0	0	0
Net periodic retirement (benefit) cost	(133)	(29)	(260)	(55)
Contributions paid - pensions	$ 119	$ 101	$ 431	$ 466

Retirement Benefits (Schedule81

Retirement Benefits (Schedule of estimated remaining cash contributions) (Details) $ in Thousands	Mar. 31, 2018USD ($)
Other Postretirement Benefit Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Estimated future employer contributions in the currect fiscal year	$ 2,636
UNITED STATES | Defined Benefit Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Estimated future employer contributions in the currect fiscal year	0
UNITED KINGDOM | Defined Benefit Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Estimated future employer contributions in the currect fiscal year	219
JAPAN | Defined Benefit Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Estimated future employer contributions in the currect fiscal year	$ 0

Stockholders' Equity (Narrative

Stockholders' Equity (Narrative) (Details) - USD ($) $ / shares in Units, shares in Thousands	3 Months Ended			6 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017	Sep. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payments for repurchases of common stock				$ 0	$ 61,782,000
Exercise prices of stock options outstanding	$ 44.62			$ 44.62		$ 44.48	$ 39.58
Total unrecognized compensation cost related to non-vested stock-based compensation arrangements	$ 12,695,000			$ 12,695,000
Unrecognized compensation cost is expected to be recognized over a weighted-average period	2 years 2 months 12 days
Forfeiture rate, Board of Directors	0.00%			0.00%
Forfeiture rate, non-Board of Directors	9.00%			9.00%
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation award conditionally awarded date			Oct. 3, 2016
Stock-based compensation award conditionally awarded date approved			Jan. 25, 2017
Vested contractual term, in years				10 years
Vesting rate				25.00%
Employee stock-based compensation expense	$ 2,011,000	$ 12,502,000		$ 14,434,000	13,763,000
Vesting period, in years				4 years
2017 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock shares authorized for grants	2,000			2,000
Employee stock-based compensation expense			$ 0
2017 Authorization [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized repurchase amount	$ 500,000,000			$ 500,000,000
Payments for repurchases of common stock				$ 0	$ 61,229,000
Repurchase period in years	3 years
Purchases of treasury stock, number of shares					886
10b5-1 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Purchases of treasury stock, number of shares					350
10b-18 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Purchases of treasury stock, number of shares					536

Stockholders' Equity (Schedule

Stockholders' Equity (Schedule of Assumptions Used in Estimate of Fair Value of Stock Option Awards) (Details) - Stock Options [Member] - $ / shares	3 Months Ended		6 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average grant date market value of Woodward stock	$ 72.01	$ 69.45	$ 78.91	$ 69.45
Weighted-average exercise price per share	$ 72.01	$ 62.64	$ 78.91	$ 62.64
Estimated dividend yield	0.80%	0.70%		0.70%
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term		6 years	6 years 4 months 24 days	6 years
Estimated volatility		31.50%	29.10%	31.50%
Estimated dividend yield			0.60%
Risk-free interest rate	2.70%	2.20%	2.10%	2.20%
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term	6 years 4 months 24 days	8 years 8 months 12 days	8 years 8 months 12 days	8 years 8 months 12 days
Estimated volatility	29.10%	33.70%	32.70%	33.70%
Estimated dividend yield			0.80%
Risk-free interest rate	2.80%	2.50%	2.80%	2.50%

Stockholders' Equity (Activity

Stockholders' Equity (Activity for Stock Option Awards) (Details) - $ / shares shares in Thousands	3 Months Ended	6 Months Ended
	Mar. 31, 2018	Mar. 31, 2018
Stock-Based Compensation
Number of options, beginning balance	5,937	5,236
Weighted Average Exercise Price Per Share, beginning balance	$ 44.48	$ 39.58
Options granted, Number of options	6	750
Options granted, Weighted Average Exercise Price Per Share	$ 72.01	$ 78.91
Options exercised, Number of options	(63)	(97)
Options exercised, Weighted Average Exercise Price Per Share	$ 34.54	$ 36.84
Options forfeited, Number of options	0	(9)
Options forfeited, Weighted Average Exercise Price Per Share	$ 0	$ 55.61
Number of options, ending balance	5,880	5,880
Weighted Average Exercise Price Per Share, ending balance	$ 44.62	$ 44.62

Stockholders' Equity (Changes i

Stockholders' Equity (Changes in Nonvested Stock Options) (Details) - $ / shares shares in Thousands	3 Months Ended	6 Months Ended
	Mar. 31, 2018	Mar. 31, 2018
Stock-Based Compensation
Number of Options, beginning balance	2,020	2,072
Weighted-Average Grant Date Fair Value Per Share, beginning balance	$ 21.63	$ 18.61
Options granted, Number of options	6	750
Options granted, Weighted-Average Grant Date Fair Value Per Share	$ 22.82	$ 25.66
Options vested, Number of options	(4)	(791)
Options vested, Weighted-Average Grant Date Fair Value Per Share	$ 23.10	$ 17.57
Options forfeited, Number of options	0	(9)
Options forfeited, Weighted-Average Grant Date Fair Value Per Share	$ 0	$ 19.82
Number of Options, ending balance	2,022	2,022
Weighted-Average Grant Date Fair Value Per Share, ending balance	$ 21.63	$ 21.63

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	6 Months Ended
	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017
Stock-Based Compensation
Options outstanding, Number of options	5,880	5,937	5,236
Options outstanding, Weighted-Average Exercise Price	$ 44.62	$ 44.48	$ 39.58
Options outstanding, Weighted-Average Remaining Life in Years	5 years 10 months 24 days
Options outstanding, Aggregate Intrinsic Value	$ 155,908
Options vested and exercisable, Number of options	3,858
Options vested and exercisable, Weighted-Average Exercise Price Per Share	$ 35.68
Options vested and exercisable, Weighted-Average Remaining Life in Years	4 years 7 months 6 days
Options vested and exercisable, Aggregate Intrinsic Value	$ 132,401
Options vested and expected to vest, Number of options	5,782
Options vested and expected to vest, Weighted-Average Exercise Price Per Share	$ 44.25
Options vested and to expected vest, Weighted-Average Remaining Life in Years	5 years 10 months 24 days
Options vested and expected to vest, Aggregate Intrinsic Value	$ 155,118

Segment Information (Narrative)

Segment Information (Narrative) (Details) $ in Thousands	6 Months Ended
	Mar. 31, 2018USD ($)segment
Segment Information
Number of Reportable Segments | segment	2
Restructuring Costs | $	$ 17,013

Segment Information (Consolidat

Segment Information (Consolidated Net Sales and Earnings by Segment) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017
Segment Reporting Information [Line Items]
Net sales	$ 548,249	$ 500,381	$ 1,018,397	$ 943,275
Interest expense, net	(6,216)	(6,316)	(12,603)	(12,751)
Consolidated earnings before income taxes	48,647	50,236	86,134	97,295
Aerospace [Member]
Segment Reporting Information [Line Items]
Net sales	386,343	320,526	692,248	587,206
Segment earnings (loss)	72,969	58,227	116,522	105,104
Industrial [Member]
Segment Reporting Information [Line Items]
Net sales	161,906	179,855	326,149	356,069
Segment earnings (loss)	10,237	17,089	29,581	35,087
Unallocated Corporate [Member]
Segment Reporting Information [Line Items]
Segment earnings (loss)	$ (28,343)	$ (18,764)	$ (47,366)	$ (30,145)

Segment Information (Consolid89

Segment Information (Consolidated Total Assets by Segment) (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Sep. 30, 2017
Segment Reporting Information [Line Items]
Assets	$ 2,785,751	$ 2,757,109
Other unallocated assets	254,734	234,301
Property, plant and equipment, net	943,433	922,043
Aerospace [Member]
Segment Reporting Information [Line Items]
Assets	1,723,472	1,722,789
Industrial [Member]
Segment Reporting Information [Line Items]
Assets	686,329	695,264
Unallocated Corporate [Member]
Segment Reporting Information [Line Items]
Property, plant and equipment, net	$ 121,216	$ 104,755

Subsequent Events (Narrative) (

Subsequent Events (Narrative) (Details) € in Thousands, $ in Thousands	Jun. 01, 2018	May 30, 2018	Apr. 18, 2018USD ($)	Apr. 09, 2018EUR (€)	Mar. 31, 2018USD ($)	Apr. 18, 2018EUR (€)
Subsequent Event [Line Items]
Subsequent Event, Date			Apr. 16, 2018	Apr. 9, 2018
Date of Acquisition Agreement				Apr. 9, 2018
Acquisition total consideration | €				€ 700,000
Transaction costs | $					$ 1,136
Name of entity to be acquired				L'Orange GmbH
Not Designated as Hedging Instrument, Economic Hedge [Member] | Foreign Exchange Option [Member]
Subsequent Event [Line Items]
Derivative, Inception Date			Apr. 18, 2018
Derivative, Maturity Date	Jun. 1, 2018
Derivative, Exercise Date		May 30, 2018
Derivative, Cost of Hedge | $			$ 5,543
Derivative, Currency Bought			Euros
Derivative, Notional Amount | €						€ 490,000
Derivative, Forward Exchange Rate						1.2432

Uncategorized Items - wwd-20180

Label	Element	Value
Treasury Stock Held For Deferred Compensaton [Member]
Purchase of stock by deferred compensation plan	wwd_PurchaseOfStockByDeferredCompensationPlan	$ (211,000)
Purchase Of Stock Shares By Deferred Compensation Plan	wwd_PurchaseOfStockSharesByDeferredCompensationPlan	3,000
Deferred Compensation In Equity [Member]
Purchase of stock by deferred compensation plan	wwd_PurchaseOfStockByDeferredCompensationPlan	$ 211,000
Revolving Credit Agreement [Member]
Debt Issuance Costs, Line of Credit Arrangements, Net	us-gaap_DebtIssuanceCostsLineOfCreditArrangementsNet	2,259,000
Debt Issuance Costs, Line of Credit Arrangements, Net	us-gaap_DebtIssuanceCostsLineOfCreditArrangementsNet	$ 1,822,000