Woodward (WWD) 10-Q 3 May 24 2024 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Mar. 31, 2024	May 02, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Document Transition Report	false
Entity File Number	000-08408
Entity Registrant Name	WOODWARD, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	36-1984010
Entity Address, Address Line One	1081 Woodward Way
Entity Address, City or Town	Fort Collins
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80524
City Area Code	970
Local Phone Number	482-5811
Title of 12(b) Security	Common Stock, par value $0.001455 per share
Trading Symbol	WWD
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		60,919,845
Amendment Flag	false
Entity Central Index Key	0000108312
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--09-30
Document Fiscal Year Focus	2024

Condensed Consolidated Statemen

Condensed Consolidated Statements of Earnings - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Income Statement [Abstract]
Net sales	$ 835,343	$ 718,214	$ 1,622,073	$ 1,336,833
Costs and expenses:
Cost of goods sold	600,954	559,149	1,183,335	1,051,812
Selling, general and administrative expenses	81,447	75,578	155,958	138,765
Research and development costs	36,465	37,777	67,259	66,411
Restructuring charges		5,172		5,172
Interest expense	11,530	12,845	22,966	23,987
Interest income	(1,293)	(508)	(2,766)	(874)
Other (income) expense, net	(14,384)	(12,040)	(35,023)	(20,430)
Total costs and expenses	714,719	677,973	1,391,729	1,264,843
Earnings before income taxes	120,624	40,241	230,344	71,990
Income tax expense	23,068	4,730	42,744	6,873
Net earnings	$ 97,556	$ 35,511	$ 187,600	$ 65,117
Earnings per share:
Basic earnings per share	$ 1.61	$ 0.59	$ 3.12	$ 1.09
Diluted earnings per share	$ 1.56	$ 0.58	$ 3.02	$ 1.07
Weighted Average Common Shares Outstanding:
Basic	60,427	59,807	60,223	59,736
Diluted	62,365	61,227	62,106	61,083

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Earnings - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Condensed Consolidated Statements of Comprehensive Earnings
Net earnings	$ 97,556	$ 35,511	$ 187,600	$ 65,117
Other comprehensive earnings:
Foreign currency translation adjustments	(11,759)	8,495	12,082	38,722
Net gain (loss) on foreign currency transactions designated as hedges of net investments in foreign subsidiaries	978	(807)	(888)	(4,432)
Taxes on changes in foreign currency translation adjustments	108	928	(179)	2,272
Foreign currency translation and transactions adjustments, net of tax	(10,673)	8,616	11,015	36,562
Unrealized gain (loss) on fair value adjustment of derivative instruments	7,349	(2,096)	(11,161)	(34,684)
Reclassification of net realized gain loss on derivatives to earnings	(8,875)	7,620	9,024	45,806
Taxes on changes in derivative transactions	414	(221)	414	(334)
Derivative adjustments, net of tax	(1,112)	5,303	(1,723)	10,788
Amortization of pension and other postretirement plan:
Net prior service cost	180	181	360	360
Net (gain)	(254)	(204)	(504)	(403)
Foreign currency exchange rate changes on pension and other postretirement benefit plan liabilities	(243)	70	79	511
Taxes on changes in pension and other postretirement benefit plan liability adjustments, net of foreign currency exchange rate changes	85	48	43	127
Pension and other postretirement benefit plan adjustments, net of tax	(232)	95	(22)	595
Total comprehensive earnings	$ 85,539	$ 49,525	$ 196,870	$ 113,062

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2024	Sep. 30, 2023
Current assets:
Cash and cash equivalents	$ 316,932	$ 137,447
Accounts receivable, less allowance for uncollectible amounts of $7,126 and $5,847, respectively	831,777	749,859
Inventories	580,377	517,843
Income taxes receivable	32,816	14,120
Other current assets	50,072	50,183
Total current assets	1,811,974	1,469,452
Property, plant and equipment, net	921,355	913,094
Goodwill	796,706	791,468
Intangible assets, net	443,414	452,363
Deferred income tax assets	58,911	58,550
Other assets	333,899	325,276
Total assets	4,366,259	4,010,203
Current liabilities:
Short-term debt	141,300
Current portion of long-term debt	699	75,817
Accounts payable	258,670	234,328
Income taxes payable	54,242	44,435
Accrued liabilities	236,944	262,616
Total current liabilities	691,855	617,196
Long-term debt, less current portion	649,039	645,709
Deferred income tax liabilities	135,022	132,819
Other liabilities	560,930	543,490
Total liabilities	2,036,846	1,939,214
Commitments and contingencies (Note 21)
Stockholders' equity:
Preferred stock, par value $0.003 per share,10,000 shares authorized, no shares issued
Common stock, par value $0.001455 per share,150,000 shares authorized, 72,960 shares issued	106	106
Additional paid-in capital	374,278	327,941
Accumulated other comprehensive losses	(61,401)	(70,671)
Deferred compensation	3,032	2,776
Retained earnings	3,067,847	2,908,574
Stockholders' equity	3,383,862	3,168,726
Treasury stock at cost, 12,185 shares and 13,070 shares, respectively	(1,051,417)	(1,094,961)
Treasury stock held for deferred compensation, at cost, 53 shares and 55 shares, respectively	(3,032)	(2,776)
Total stockholders' equity	2,329,413	2,070,989
Total liabilities and stockholders' equity	$ 4,366,259	$ 4,010,203

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2024	Sep. 30, 2023
Current assets:
Allowance, accounts receivable	$ 7,126	$ 5,847
Stockholders' equity:
Preferred stock, par value	$ 0.003	$ 0.003
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Common stock, par value	$ 0.001455	$ 0.001455
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	72,960,000	72,960,000
Treasury stock, shares	12,185,000	13,070,000
Treasury stock held for deferred compensation, shares	53,000	55,000

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash flows from operating activities:
Net earnings	$ 187,600	$ 65,117
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	58,050	59,257
Net (gain) loss on sales of assets and businesses	(872)	890
Stock-based compensation	19,903	15,538
Deferred income taxes	43	545
Changes in operating assets and liabilities:
Trade accounts receivable	(40,619)	(26,467)
Unbilled receivables (contract assets)	(39,289)	(18,015)
Costs to fulfill a contract	(7,572)	(4,193)
Inventories	(59,841)	(42,408)
Accounts payable and accrued liabilities	12,131	5,426
Contract liabilities	26,748	9,769
Income taxes	(14,210)	(34,886)
Retirement benefit obligations	(1,240)	(615)
Other	3,286	10,192
Net cash provided by operating activities	144,118	40,150
Cash flows from investing activities:
Payments for purchase of property, plant, and equipment	(56,301)	(44,046)
Proceeds from sale of assets	51	199
Proceeds from business divestiture	600
Business acquisition, net of cash acquired		878
Payments for short-term investments	(3,723)
Proceeds from sales of short-term investments	9,732	7,733
Net cash (used in) investing activities	(49,641)	(35,236)
Cash flows from financing activities:
Cash dividends paid	(28,327)	(24,537)
Proceeds from sales of treasury stock	43,087	14,067
Payments for repurchases of common stock		(26,369)
Borrowings on revolving lines of credit and short-term borrowings	1,539,100	1,031,800
Payments on revolving lines of credit and short-term borrowings	(1,397,800)	(968,100)
Payments of debt financing costs		(2,236)
Payments of long-term debt and finance lease obligations	(75,472)	(288)
Net cash provided by financing activities	80,588	24,337
Effect of exchange rate changes on cash and cash equivalents	4,420	(7,668)
Net change in cash and cash equivalents	179,485	21,583
Cash and cash equivalents at beginning of year	137,447	107,844
Cash and cash equivalents at end of period	$ 316,932	$ 129,427

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Foreign Currency Translation Adjustments [Member]	Unrealized Derivative Gains (Losses) [Member]	Minimum Retirement Benefit Liability Adjustments [Member]	Total Accumulated Other Comprehensive (Loss) Earnings [Member]	Deferred Compensation [Member]	Retained Earnings [Member]	Treasury Stock at Cost [Member]	Treasury Stock Held for Deferred Compensaton [Member]
Balances at Sep. 30, 2022	$ 1,901,122	$ 106	$ 293,540	$ (86,494)	$ (6,215)	$ 146	$ (92,563)	$ 6,781	$ 2,727,233	$ (1,027,194)	$ (6,781)
Net earnings	65,117								65,117
Other comprehensive earnings (loss), net of tax	47,945			36,562	10,788	595	47,945
Cash dividends paid	(24,537)								(24,537)
Sales of treasury stock	13,771		1,420							12,351
Common shares issued for benefit plans	19,467		10,943							8,524
Purchases of treasury stock	(26,369)									(26,369)
Stock-based compensation	15,538		15,538
Purchases of stock by/ deferred compensation								112			(112)
Distribution of stock from deferred compensation								(3,574)			3,574
Balances at Mar. 31, 2023	2,012,054	106	321,441	(49,932)	4,573	741	(44,618)	3,319	2,767,813	(1,032,688)	(3,319)
Balances at Dec. 31, 2022	1,939,435	106	305,100	(58,548)	(730)	646	(58,632)	5,975	2,745,484	(1,052,623)	(5,975)
Net earnings	35,511								35,511
Other comprehensive earnings (loss), net of tax	14,014			8,616	5,303	95	14,014
Cash dividends paid	(13,182)								(13,182)
Sales of treasury stock	12,747		1,259							11,488
Common shares issued for benefit plans	19,307		10,860							8,447
Stock-based compensation	4,222		4,222
Purchases of stock by/ deferred compensation								42			(42)
Distribution of stock from deferred compensation								(2,698)			2,698
Balances at Mar. 31, 2023	2,012,054	106	321,441	(49,932)	4,573	741	(44,618)	3,319	2,767,813	(1,032,688)	(3,319)
Balances at Sep. 30, 2023	2,070,989	106	327,941	(67,393)	(9,719)	6,441	(70,671)	2,776	2,908,574	(1,094,961)	(2,776)
Net earnings	187,600								187,600
Other comprehensive earnings (loss), net of tax	9,270			11,015	(1,723)	(22)	9,270
Cash dividends paid	(28,327)								(28,327)
Sales of treasury stock	48,091		12,468							35,623
Common shares issued for benefit plans	21,887		13,966							7,921
Stock-based compensation	19,903		19,903
Purchases of stock by/ deferred compensation								79			(79)
Distribution of stock from deferred compensation								177			(177)
Balances at Mar. 31, 2024	2,329,413	106	374,278	(56,378)	(11,442)	6,419	(61,401)	3,032	3,067,847	(1,051,417)	(3,032)
Balances at Dec. 31, 2023	2,190,062	106	337,038	(45,705)	(10,330)	6,651	(49,384)	3,049	2,985,409	(1,083,107)	(3,049)
Net earnings	97,556								97,556
Other comprehensive earnings (loss), net of tax	(12,017)			(10,673)	(1,112)	(232)	(12,017)
Cash dividends paid	(15,118)								(15,118)
Sales of treasury stock	32,077		8,308							23,769
Common shares issued for benefit plans	21,887		13,966							7,921
Stock-based compensation	14,966		14,966
Purchases of stock by/ deferred compensation								47			(47)
Distribution of stock from deferred compensation								(64)			64
Balances at Mar. 31, 2024	$ 2,329,413	$ 106	$ 374,278	$ (56,378)	$ (11,442)	$ 6,419	$ (61,401)	$ 3,032	$ 3,067,847	$ (1,051,417)	$ (3,032)

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Statement of Stockholders' Equity [Abstract]
Cash dividends per share	$ 0.25	$ 0.22	$ 0.47	$ 0.41

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 97,556	$ 35,511	$ 187,600	$ 65,117

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	6 Months Ended
	Mar. 31, 2024	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false	false
Non-Rule 10b5-1 Arrangement Adopted	false	false
Rule 10b5-1 Arrangement Terminated	false	false
Non-Rule 10b5-1 Arrangement Terminated	false	false

Basis of Presentation

Basis of Presentation	6 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Note 1. Basis of presentation The Condensed Consolidated Financial Statements of Woodward, Inc. (“Woodward” or the “Company”) as of March 31, 2024 and for the three and six months ended March 31, 2024 and 2023, included herein, have not been audited by an independent registered public accounting firm. These unaudited 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, 2024, 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, 2024 and 2023 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 unaudited Condensed Consolidated Financial Statements are in thousands, except per share amounts, unless otherwise noted. The unaudited 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. Accordingly, 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 unaudited Condensed Consolidated Financial Statements included herein. Significant estimates in these unaudited Condensed Consolidated Financial Statements include allowances for credit losses; net realizable value of inventories; variable consideration including customer rebates earned and payable and early payment discounts; warranty reserves; useful lives of property and identifiable intangible assets; the evaluation of impairments of property, intangible assets, and goodwill; the provision for income tax and related valuation reserves; the valuation of derivative instruments; 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, board members and any other eligible recipients; estimates of incremental borrowing rates used when estimating the present value of future lease payments; assumptions used when including renewal options or non-exercise of termination options in lease terms; estimates of total lifetime sales used in the recognition of revenue of deferred material rights and balance sheet classification of the related contract liability; estimates of total sales contract costs when recognizing revenue under the cost-to-cost method; and contingencies. Actual results could vary from Woodward’s estimates.

New Accounting Standards

New Accounting Standards	6 Months Ended
	Mar. 31, 2024
Accounting Standards Update and Change in Accounting Principle [Abstract]
New Accounting Standards	Note 2. New accounting standards From time to time, the Financial Accounting Standards Board (“FASB”) or other standards setting bodies issue new accounting pronouncements. Updates to the FASB Accounting Standards Codification (“ASC”) are communicated through issuance of an Accounting Standards Update (“ASU”). In November 2023, the FASB issued ASU 2023-07, "Improvements to Reportable Segment Disclosures." The purpose of ASU 2023-07 is to provide enhanced disclosures about significant segment expenses. The amendments in ASU 2023-07 are effective for fiscal years beginning after December 15, 2023 (fiscal year 2025 for Woodward), and interim periods within fiscal years beginning after December 15, 2024 (fiscal year 2026 for Woodward), with early adoption permitted, and are to be applied on a retrospective basis to all periods presented. Woodward is currently assessing the impact on its segment reporting disclosures. In December 2023, the FASB issued ASU 2023-09, "Improvements to Income Tax Disclosures." The purpose of ASU 2023-09 is to provide enhanced disclosures surrounding income taxes by requiring consistent categories and greater disaggregation of information in the rate reconciliation, the disaggregation of income taxes paid by jurisdiction, as well as several other changes to the income tax disclosure. The amendments in ASU 2023-09 are effective for fiscal years beginning after December 15, 2024 (fiscal year 2026 for Woodward), with early adoption permitted, and is required to be applied prospectively with the option of retrospective application. Woodward is currently assessing the impact on its income tax disclosures.

Revenue

Revenue	6 Months Ended
	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Revenue	Note 3. Revenue The amount of revenue recognized as point in time or over time follows: Three Months Ended March 31, 2024 Three Months Ended March 31, 2023 Aerospace Industrial Consolidated Aerospace Industrial Consolidated Point in time $ 229,171 $ 203,232 $ 432,403 $ 188,248 $ 177,660 $ 365,908 Over time 268,341 134,599 402,940 248,769 103,537 352,306 Total net sales $ 497,512 $ 337,831 $ 835,343 $ 437,017 $ 281,197 $ 718,214 Six Months Ended March 31, 2024 Six Months Ended March 31, 2023 Aerospace Industrial Consolidated Aerospace Industrial Consolidated Point in time $ 417,674 $ 389,862 $ 807,536 $ 358,088 $ 317,499 $ 675,587 Over time 540,594 273,943 814,537 474,614 186,632 661,246 Total net sales $ 958,268 $ 663,805 $ 1,622,073 $ 832,702 $ 504,131 $ 1,336,833 Accounts Receivable Accounts receivable consisted of the following: March 31, 2024 September 30, 2023 Billed receivables Trade accounts receivable $ 478,207 $ 434,287 Other (Chinese financial institutions) 51,920 50,940 Total billed receivables 530,127 485,227 Current unbilled receivables (contract assets) 308,776 270,479 Total accounts receivable 838,903 755,706 Less: Allowance for uncollectible amounts ( 7,126 ) ( 5,847 ) Total accounts receivable, net $ 831,777 $ 749,859 As of March 31, 2024, “Other assets” on the Condensed Consolidated Balance Sheets includes $ 8,953 of unbilled receivables not expected to be invoiced and collected within a period of twelve months, compared to $ 7,332 as of September 30, 2023. Accounts receivable in Woodward’s Condensed Consolidated Financial Statements represent the net amount expected to be collected, and an allowance for uncollectible amounts related to credit losses is established based on expected losses. Expected losses are estimated by reviewing specific customer accounts, taking into consideration accounts receivable aging, credit risk of the customers, and historical payment history, as well as current and forecasted economic conditions and other relevant factors. The allowance for uncollectible amounts and change in expected credit losses for trade accounts receivable and unbilled receivables (contract assets) consisted of the following: Three Months Ended March 31, Six Months Ended March 31, 2024 2023 2024 2023 Balance, beginning $ 5,777 $ 4,203 $ 5,847 $ 3,922 Changes in estimates 1,398 6,042 1,696 6,470 Write-offs ( 16 ) ( 247 ) ( 475 ) ( 330 ) Other 1 ( 33 ) ( 49 ) 58 ( 113 ) Balance, ending $ 7,126 $ 9,949 $ 7,126 $ 9,949 (1) Includes effects of foreign exchange rate changes during the period. Contract liabilities Contract liabilities consisted of the following: March 31, 2024 September 30, 2023 Current Noncurrent Current Noncurrent Deferred revenue from material rights from GE joint venture formation $ 6,364 $ 235,837 $ 6,147 $ 233,997 Deferred revenue from advanced invoicing and/or prepayments from customers 17,414 4,333 6,868 2,196 Liability related to customer supplied inventory 17,941 — 14,543 — Deferred revenue from material rights related to engineering and development funding 7,102 186,640 6,190 178,464 Net contract liabilities $ 48,821 $ 426,810 $ 33,748 $ 414,657 Woodward recognized revenue of $ 8,232 in the three months and $ 21,265 in the six months ended March 31, 2024 from contract liabilities balances recorded as of October 1, 2023, compared to $ 5,299 in the three months and $ 14,184 in the six months ended March 31, 2023 from contract liabilities balances recorded as of October 1, 2022. Remaining performance obligations Remaining performance obligations related to the aggregate amount of the total contract transaction price of firm orders for which the performance obligation has not yet been recognized in revenue as of March 31, 2024 was $ 2,376,029 , compared to $ 2,325,533 as of September 30, 2023 , the majority of which relates to Woodward’s Aerospace segment in both periods. Woodward expects to recognize almost all of these remaining performance obligations within two years after March 31, 2024. Remaining performance obligations related to material rights that have not yet been recognized in revenue as of March 31, 2024 was $ 519,887 of which $ 8,471 is expected to be recognized in the rem ainder of fiscal year 2024 , $ 15,986 is expected to be rec ognized in fiscal year 2025 , and the remaining balance is expected to be recognized thereafter. Woodward expects to recognize revenue from performance obligations related to material rights over the life of the underlying programs, which may be as long as forty years . Disaggregation of Revenue Woodward designs, produces, and services reliable, efficient, low-emission, and high-performance energy control products for diverse applications in markets throughout the world. Woodward reports financial results for each of its Aerospace and Industrial reportable segments. Woodward further disaggregates its revenue from contracts with customers by primary market as Woodward believes this best depicts how the nature, amount, timing, and uncertainty of its revenue and cash flows are affected by economic factors. Revenue by primary market for the Aerospace reportable segment was as follows: Three Months Ended March 31, Six Months Ended March 31, 2024 2023 2024 2023 Commercial OEM $ 183,517 $ 159,271 $ 354,871 $ 298,146 Commercial aftermarket 163,886 139,445 301,430 266,088 Defense OEM 91,017 87,807 184,442 177,569 Defense aftermarket 59,092 50,494 117,525 90,899 Total Aerospace segment net sales $ 497,512 $ 437,017 $ 958,268 $ 832,702 Revenue by primary market for the Industrial reportable segment was as follows: Three Months Ended March 31, Six Months Ended March 31, 2024 2023 2024 2023 Power generation $ 106,811 $ 94,013 $ 204,917 $ 175,590 Transportation 173,786 118,777 348,255 207,692 Oil and gas 57,234 68,407 110,633 120,849 Total Industrial segment net sales $ 337,831 $ 281,197 $ 663,805 $ 504,131 During fiscal year 2023, for purposes of how we assess performance, we determined that certain revenue was better aligned with our markets consisting of power generation, transportation, and oil and gas, rather than the reciprocating engines and industrial turbines, as previously reported. For comparability, we have reclassified revenue for the three months and six months ended March 31, 2023 to conform to the new presentation. This reclassification of revenue had no impact on our consolidated financial results. The customers who each account for approximately 10% or more of net sales of each of Woodward’s reportable segments are as follows: Three Months Ended March 31, 2024 Three Months Ended March 31, 2023 Aerospace RTX Corporation, General Electric Company RTX Corporation, General Electric Company, The Boeing Company Industrial Weichai Westport, Rolls-Royce PLC Rolls-Royce PLC, Caterpillar, Inc. Six Months Ended March 31, 2024 Six Months Ended March 31, 2023 Aerospace General Electric Company, RTX Corporation, The Boeing Company RTX Corporation, General Electric Company, The Boeing Company Industrial Weichai Westport, Rolls-Royce PLC Rolls-Royce PLC, Caterpillar, Inc., Wartsila

Earnings Per Share

Earnings Per Share	6 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Earnings Per Share	Note 4. 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 March 31, Six Months Ended March 31, 2024 2023 2024 2023 Numerator: Net earnings $ 97,556 $ 35,511 $ 187,600 $ 65,117 Denominator: Basic shares outstanding 60,427 59,807 60,223 59,736 Dilutive effect of stock options, restricted units, and performance units 1,938 1,420 1,883 1,347 Diluted shares outstanding 62,365 61,227 62,106 61,083 Income per common share: Basic earnings per share $ 1.61 $ 0.59 $ 3.12 $ 1.09 Diluted earnings per share $ 1.56 $ 0.58 $ 3.02 $ 1.07 The following stock option grants were outstanding but were excluded from the computation of diluted earnings per share because their inclusion would have been anti-dilutive: Three Months Ended March 31, Six Months Ended March 31, 2024 2023 2024 2023 Options 14 1,560 37 1,592 Weighted-average option price $ 122.38 $ 102.01 $ 131.03 $ 101.95 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 March 31, Six Months Ended March 31, 2024 2023 2024 2023 Weighted-average treasury stock shares held for deferred compensation obligations 54 94 54 109

Leases

Leases	6 Months Ended
	Mar. 31, 2024
Leases [Abstract]
Lease	Note 5. Leases Lessee arrangements Woodward has entered into operating leases for certain facilities and equipment with terms in excess of one year under agreements that expire at various dates. Some leases require the payment of property taxes, insurance, maintenance costs, or other similar costs in addition to rental payments. Woodward has also entered into finance leases for equipment with terms in excess of one year under agreements that expire at various dates. Lease-related assets and liabilities were as follows: Classification on the Condensed Consolidated Balance Sheets March 31, 2024 September 30, 2023 Assets: Operating lease Other assets $ 23,326 $ 24,680 Finance lease Property, plant, and equipment, net 2,863 3,337 Total lease assets 26,189 28,017 Current liabilities: Operating lease Accrued liabilities 4,567 4,594 Finance lease Current portion of long-term debt 699 817 Noncurrent liabilities: Operating lease Other liabilities 19,202 20,685 Finance lease Long-term debt, less current portion 2,380 2,733 Total lease liabilities $ 26,848 $ 28,829 Lease-related expenses were as follows: Three Months Ended March 31, Six Months Ended March 31, 2024 2023 2024 2023 Operating lease expense $ 1,656 $ 1,586 $ 3,288 $ 3,073 Amortization of finance lease assets 222 156 470 412 Interest on finance lease liabilities 32 40 73 74 Variable lease expense 301 245 529 455 Short-term lease expense 45 51 83 108 Total lease expense $ 2,256 $ 2,078 $ 4,443 $ 4,122 Lease-related supplemental cash flow information was as follows: Six Months Ended March 31, 2024 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 2,660 $ 2,621 Operating cash flows for finance leases 73 74 Financing cash flows for finance leases 472 284 Right-of-use assets obtained in exchange for recorded lease obligations: Operating leases 966 714 Finance leases — 43 Lessor arrangements Woodward has assessed its manufacturing contracts and concluded that certain of the contracts for the manufacture of customer products met the criteria to be considered a leasing arrangement (“embedded leases”) with Woodward as the lessor. The specific manufacturing contracts that met the criteria were those that utilized Woodward property, plant, and equipment and which are substantially (more than 90%) dedicated to the manufacturing of the product(s) for a single customer. Woodward has dedicated manufacturing lines with four of its customers representing embedded leases, all of which qualified as operating leases with undefined quantities of future customer purchase commitments. Although Woodward expects to allocate some portion of future net sales to these customers to embedded lessor arrangements, it cannot provide expected future undiscounted lease payments from property, plant, and equipment leased to customers as of March 31, 2024. If, in the future, customers reduce purchases of related products from Woodward, the Company believes it will derive additional value from the underlying equipment by repurposing its use to support other customer arrangements. Revenue from contracts with customers that included embedded operating leases, which is included in “Net sales” in the Condensed Consolidated Statements of Earnings, was $ 1,365 for the three months and $ 2,729 for the six months ended March 31, 2024, compared to $ 1,398 for the three months and $ 2,786 for the six months ended March 31, 2023. The carrying amount of property, plant, and equipment leased to others through embedded leasing arrangements, included in “Property, plant, and equipment, net” on the Condensed Consolidated Balance Sheets, follows: March 31, 2024 September 30, 2023 Property, plant, and equipment $ 46,544 $ 45,766 Less accumulated depreciation ( 29,981 ) ( 28,128 ) Property, plant, and equipment, net $ 16,563 $ 17,638

Joint Venture

Joint Venture	6 Months Ended
	Mar. 31, 2024
Equity Method Investments and Joint Ventures [Abstract]
Joint Venture	Note 6. Joint venture In fiscal year 2016, Woodward and General Electric Company (“GE”), acting through its GE Aviation business unit at the time, consummated the formation of a strategic joint venture between Woodward and GE (the “JV”) to develop, manufacture, and support fuel systems for specified existing and all future GE commercial aircraft engines that produce thrust in excess of fifty thousand pounds. Unamortized deferred revenue from material rights in connection with the JV formation included: March 31, 2024 September 30, 2023 Accrued liabilities $ 6,364 $ 6,147 Other liabilities 235,837 233,997 Amortization of the deferred revenue (material right) recognized as an increase to sales was $ 1,502 for the three months and $ 2,837 for the six months ended March 31, 2024, and $ 1,203 for the three months and $ 2,034 for the six months ended March 31, 2023. As part of the JV formation, GE pays contingent consideration to Woodward consisting of fifteen annual payments of $ 4,894 per year, which began in the second quarter of fiscal year 2017, subject to certain claw-back conditions. Woodward received its annual payments of $ 4,894 during the three-months ended March 31, 2024 and 2023, which were recorded as deferred income and included in “Net cash provided by operating activities” on the Condensed Consolidated Statements of Cash Flows. Other income related to Woodward’s equity interest in the earnings of the JV was as follows: Three Months Ended March 31, Six Months Ended March 31, 2024 2023 2024 2023 Other income $ 8,701 $ 8,468 $ 18,856 $ 13,041 Cash distributions to Woodward from the JV, recognized in “Other, net” in “Net cash provided by operating activities” on the Condensed Consolidated Statements of Cash Flows, were as follows: Three Months Ended March 31, Six Months Ended March 31, 2024 2023 2024 2023 Cash distributions $ 12,000 $ 5,500 $ 18,500 $ 10,000 Net sales to the JV were as follows: Three Months Ended March 31, Six Months Ended March 31, 2024 2023 2024 2023 Net sales 1 $ 22,080 $ 7,320 $ 42,352 $ 13,797 (1) Net sales included a reduction of $ 14,992 for the three months and $ 29,531 for the six months ended March 31, 2024 related to royalties owed to the JV by Woodward on sales by Woodward directly to third party aftermarket customers, compared to a reduction to sales of $ 12,888 for the three months and $ 20,458 for the six months ended March 31, 2023 . The Condensed Consolidated Balance Sheets include “Accounts receivable” related to amounts the JV owed Woodward, “Accounts payable” related to amounts Woodward owed the JV, and “Other assets” related to Woodward’s net investment in the JV, as follows: March 31, 2024 September 30, 2023 Accounts receivable $ 5,279 $ 3,666 Accounts payable 7,324 6,276 Other assets 16,384 16,028

Financial Instruments and Fair

Financial Instruments and Fair Value Measurements	6 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Financial Instruments and Fair Value Measurements	Note 7. Financial instruments and fair value measurements The table below presents information about Woodward’s financial assets and liabilities 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 as defined by the U.S. GAAP fair value hierarchy. At March 31, 2024 At September 30, 2023 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Financial assets: Investments in banks and financial institutions $ 204,724 $ — $ — $ 204,724 $ 28,560 $ — $ — $ 28,560 Equity securities 29,902 — — 29,902 24,913 — — 24,913 Cross-currency interest rate swaps — — — — — 5,389 — 5,389 Total financial assets $ 234,626 $ — $ — $ 234,626 $ 53,473 $ 5,389 $ — $ 58,862 Financial liabilities: Cross-currency interest rate swaps $ — $ 4,968 $ — $ 4,968 $ — $ — $ — $ — Total financial liabilities $ — $ 4,968 $ — $ 4,968 $ — $ — $ — $ — Investments in banks and financial institutions: Woodward and its 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. Cross-currency interest rate swaps: Woodward holds cross-currency interest rate swaps, which are accounted for at fair value. The swaps in an asset position are included in “Other current assets” and “Other assets,” and swaps in a liability position are included in “Accrued liabilities” and “Other liabilities” in the Condensed Consolidated Balance Sheets. The fair values of Woodward’s cross-currency interest rate swaps are determined using a market approach that is based on observable inputs other than quoted market prices, including contract terms, interest rates, currency rates, and other market factors. Cash, trade 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, 2024 At September 30, 2023 Fair Value Estimated Carrying Estimated Carrying Assets: Notes receivable from municipalities 2 $ 7,859 $ 7,410 $ 7,794 $ 7,688 Investments in short-term time deposits 2 88 88 6,095 6,107 Liabilities: Long-term debt 2 612,200 650,754 661,507 722,671 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 its corporate headquarters in Fort Collins, Colorado, Woodward received long-term notes from municipalities within the states of Illinois and 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 Woodward 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 2.6 % at March 31, 2024 and 3.6 % at September 30, 2023. 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 were 5.9 % at March 31, 2024 and 6.8 % at September 30, 2023. The fair value of long-term debt was estimated based on the prices of debt of comparable type and maturity available to Woodward at the end of the period, 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 5.2 % at March 31, 2024 and 5.9 % at September 30, 2023. Woodward does not have expected credit losses related to any financial assets that are not required to be remeasured at fair value.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	6 Months Ended
	Mar. 31, 2024
Derivative Instruments and Hedges, Assets [Abstract]
Derivative Instruments and Hedging Activities	Note 8. Derivative instruments and hedging activities Derivative instruments not designated or qualifying as hedging instruments In May 2020, Woodward entered into a floating-rate cross-currency interest rate swap (the “2020 Floating-Rate Cross-Currency Swap”), with a notional value of $ 45,000 , and five fixed-rate cross-currency interest rate swap agreements (the “2020 Fixed-Rate Cross-Currency Swaps”), with an aggregate notional value of $ 400,000 , which effectively reduced the interest rates on the underlying fixed and floating-rate debt, respectively, under the 2018 Notes (as defined in Note 15, Credit Facilities, short-term borrowings and long-term debt, in the Notes to the Consolidated Financial Statements included in Part II, Item 8 of Woodward’s most recently filed Form 10-K) and Woodward’s then existing revolving credit agreement. The net interest income of the cross-currency interest rate swaps is recorded as a reduction to “Interest expense” in Woodward’s Condensed Consolidated Statements of Earnings. The 2020 Floating-Rate Cross-Currency Swap expired on May 31, 2023 and, as such, is no longer recorded on the Condensed Consolidated Balance Sheets. As of March 31, 2024 , the total notional value of the 2020 Fixed-Rate Cross-Currency Swaps was $ 400,000 . See Note 7, Financial Instruments and fair value measurements for the related fair value of the derivative instruments as of March 31, 2024. Derivatives instruments in fair value hedging relationships In May 2020, Woodward entered into a US dollar denominated intercompany loan payable with identical terms and notional value as the 2020 Floating-Rate Cross-Currency Swap, together with a reciprocal intercompany floating-rate cross-currency interest rate swap. The agreements were entered into by Woodward Barbados Euro Financing SRL (“Euro Barbados”), a wholly owned subsidiary of Woodward. The US dollar denominated intercompany loan and reciprocal intercompany floating-rate cross-currency interest rate swap are designated as a fair value hedge under the criteria prescribed in ASC 815. The objective of the derivative instrument is to hedge against the foreign currency exchange risk attributable to the spot remeasurement of the US dollar denominated intercompany loan, as Euro Barbados maintains a Euro functional currency. For each floating-rate intercompany cross-currency interest rate swap, only the change in the fair value related to the cross-currency basis spread, or excluded component, of the derivative instrument is recognized in accumulated other comprehensive income (“OCI”). The remaining change in the fair value of the derivative instrument is recognized in foreign currency transaction gain or loss included in “Selling, general and administrative costs” in Woodward’s Condensed Consolidated Statements of Earnings. The change in the fair value of the derivative instrument in foreign currency transaction gain or loss offsets the change in the spot remeasurement of the intercompany Euro and US dollar denominated loans. Hedge effectiveness is assessed based on the fair value changes of the derivative instrument, after excluding any fair value changes related to the cross-currency basis spread. The initial cost of the cross-currency basis spread is recorded in earnings each period through the swap accrual process. There are no credit-risk-related contingent features associated with the intercompany floating-rate cross-currency interest rate swap. Derivative instruments in cash flow hedging relationships In May 2020, Woodward entered into five US dollar intercompany loans payable, with identical terms and notional values of each tranche of the 2020 Fixed-Rate Cross-Currency Swaps, together with reciprocal fixed-rate intercompany cross-currency interest rate swaps. The agreements were entered into by Euro Barbados and are designated as cash flow hedges under the criteria prescribed in ASC 815. The objective of these derivative instruments is to hedge the risk of variability in cash flows attributable to the foreign currency exchange risk of cash flows for future principal and interest payments associated with the US dollar denominated intercompany loans over a thirteen-year period, as Euro Barbados maintains a Euro functional currency. For each of the fixed-rate intercompany cross-currency interest rate swaps, changes in the fair values of the derivative instruments are recognized in accumulated OCI and reclassified to foreign currency transaction gain or loss included in “Selling, general and administrative costs” in Woodward’s Condensed Consolidated Statements of Earnings. Reclassifications out of accumulated OCI of the change in fair value occur each reporting period based upon changes in the spot rate remeasurement of the Euro and US dollar denominated intercompany loans, including associated interest. Hedge effectiveness is assessed based on the fair value changes of the derivative instruments and such hedges are deemed to be highly effective in offsetting exposure to variability in foreign exchange rates. There are no credit-risk-related contingent features associated with these fixed-rate cross-currency interest rate swaps. Derivatives instruments in net investment hedging relationships 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. Related to the Series M Notes, included in foreign currency translation adjustments within total comprehensive (losses) earnings is a net foreign exchange gain of $ 978 for the three months and a foreign exchange loss of $ 888 for the six months ended March 31, 2024, compared to foreign exchange losses of $ 807 for the three months and $ 4,432 for the six months ended March 31, 2023. Impact of derivative instruments designated as qualifying hedging instruments The following table discloses the amount of (income) expense recognized in earnings on derivative instruments designated as qualifying hedging instruments: Three months ended March 31, Six months ended March 31, Derivatives in: Location 2024 2023 2024 2023 Cross-currency interest rate swap agreement designated as fair value hedges Selling, general and administrative expenses $ — $ 36 $ — $ 937 Cross-currency interest rate swap agreements designated as cash flow hedges Selling, general and administrative expenses ( 8,875 ) 7,584 9,024 44,869 $ ( 8,875 ) $ 7,620 $ 9,024 $ 45,806 The following table discloses the amount of (gain) loss recognized in accumulated OCI on derivative instruments designated as qualifying hedging instruments: Three months ended March 31, Six months ended March 31, Derivatives in: Location 2024 2023 2024 2023 Cross-currency interest rate swap agreement designated as fair value hedges Selling, general and administrative expenses $ — $ 21 $ — $ 917 Cross-currency interest rate swap agreements designated as cash flow hedges Selling, general and administrative expenses ( 7,349 ) 2,075 11,161 33,767 $ ( 7,349 ) $ 2,096 $ 11,161 $ 34,684 The following table discloses the amount of (gain) loss reclassified from accumulated OCI into earnings on derivative instruments designated as qualifying hedging instruments: Three months ended March 31, Six months ended March 31, Derivatives in: Location 2024 2023 2024 2023 Cross-currency interest rate swap agreement designated as fair value hedges Selling, general and administrative expenses $ — $ 36 $ — $ 937 Cross-currency interest rate swap agreements designated as cash flow hedges Selling, general and administrative expenses ( 8,875 ) 7,584 9,024 44,869 $ ( 8,875 ) $ 7,620 $ 9,024 $ 45,806 The remaining unrecognized gains and losses in Woodward’s Condensed Consolidated Balance Sheets associated with derivative instruments that were previously entered into by Woodward, which are classified in accumulated OCI, were net losses of $ 11,838 as of March 31, 2024 and $ 9,701 as of September 30, 2023 .

Supplemental Statement of Cash

Supplemental Statement of Cash Flows Information	6 Months Ended
	Mar. 31, 2024
Supplemental Cash Flow Information [Abstract]
Supplemental Statement of Cash Flows Information	Note 9. Supplemental statement of cash flows information Six Months Ended March 31, 2024 2023 Interest paid, net of amounts capitalized $ 18,068 $ 17,689 Income taxes paid 59,677 44,589 Income tax refunds received 3,662 1,392 Non-cash activities: Purchases of property, plant and equipment on account 2,127 3,743 Common shares issued from treasury to settle benefit obligations 21,887 19,467

Inventories

Inventories	6 Months Ended
	Mar. 31, 2024
Inventory, Net [Abstract]
Inventories	Note 10. Inventories March 31, 2024 September 30, 2023 Raw materials $ 159,355 $ 133,699 Work in progress 140,322 127,438 Component parts (1) 352,269 327,522 Finished goods 88,978 74,594 Customer supplied inventory 17,941 14,543 On-hand inventory for which control has transferred to the customer ( 178,488 ) ( 159,953 ) $ 580,377 $ 517,843 (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	6 Months Ended
	Mar. 31, 2024
Property, Plant and Equipment, Net [Abstract]
Property, Plant and Equipment	Note 11. Property, plant, and equipment March 31, 2024 September 30, 2023 Land and land improvements $ 89,899 $ 89,352 Buildings and building improvements 591,225 589,735 Leasehold improvements 21,445 21,079 Machinery and production equipment 808,980 807,244 Computer equipment and software 117,694 120,290 Office furniture and equipment 41,303 41,943 Other 38,253 20,073 Construction in progress 64,847 55,487 1,773,646 1,745,203 Less accumulated depreciation ( 852,291 ) ( 832,109 ) Property, plant, and equipment, net $ 921,355 $ 913,094 Woodward had depreciation expense as follows: Three Months Ended March 31, Six Months Ended March 31, 2024 2023 2024 2023 Depreciation expense $ 20,607 $ 20,535 $ 40,833 $ 40,661

Goodwill

Goodwill	6 Months Ended
	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	Note 12. Goodwill September 30, Effects of Foreign March 31, Aerospace $ 455,423 $ — $ 455,423 Industrial 336,045 5,238 341,283 Consolidated $ 791,468 $ 5,238 $ 796,706 Woodward tests goodwill for impairment during the fourth quarter of each fiscal year and at any time there is an indication that goodwill is more-likely-than-not impaired (commonly referred to as a triggering event). Woodward’s goodwill impairment test in the fourth quarter of fiscal year 2023 resulted in no impairment.

Intangible Assets, Net

Intangible Assets, Net	6 Months Ended
	Mar. 31, 2024
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Intangible Assets, Net	Note 13. Intangible assets, net March 31, 2024 September 30, 2023 Gross Accumulated Net Gross Accumulated Net Intangible assets with finite lives: Customer relationships and contracts: Aerospace $ 281,683 $ ( 241,513 ) $ 40,170 $ 281,683 $ ( 236,143 ) $ 45,540 Industrial 386,267 ( 101,363 ) 284,904 378,804 ( 90,084 ) 288,720 Total $ 667,950 $ ( 342,876 ) $ 325,074 $ 660,487 $ ( 326,227 ) $ 334,260 Intellectual property: Aerospace $ — $ — $ — $ — $ — $ — Industrial 3,139 ( 3,139 ) — 3,139 ( 3,139 ) — Total $ 3,139 $ ( 3,139 ) $ — $ 3,139 $ ( 3,139 ) $ — Process technology: Aerospace $ 44,570 $ ( 40,026 ) $ 4,544 $ 44,570 $ ( 39,551 ) $ 5,019 Industrial 84,877 ( 33,676 ) 51,201 83,456 ( 31,709 ) 51,747 Total $ 129,447 $ ( 73,702 ) $ 55,745 $ 128,026 $ ( 71,260 ) $ 56,766 Other intangibles: Aerospace $ — $ — $ — $ — $ — $ — Industrial 561 ( 561 ) — 554 ( 524 ) 30 Total $ 561 $ ( 561 ) $ — $ 554 $ ( 524 ) $ 30 Intangible asset with indefinite life: Trade name: Aerospace $ — $ — $ — $ — $ — $ — Industrial 62,595 — 62,595 61,307 — 61,307 Total $ 62,595 $ — $ 62,595 $ 61,307 $ — $ 61,307 Total intangibles: Aerospace $ 326,253 $ ( 281,539 ) $ 44,714 $ 326,253 $ ( 275,694 ) $ 50,559 Industrial 537,439 ( 138,739 ) 398,700 527,260 ( 125,456 ) 401,804 Consolidated Total $ 863,692 $ ( 420,278 ) $ 443,414 $ 853,513 $ ( 401,150 ) $ 452,363 Woodward tests the indefinite lived trade name intangible asset for impairment during the fourth quarter of each fiscal year and at any time there is an indication the indefinite lived trade name intangible asset is more-likely-than-not impaired (commonly referred to as a triggering event). Woodward’s impairment test for the indefinite lived trade name intangible asset in the fourth quarter of fiscal year 2023 resulted in no impairment. Woodward recorded amortization expense associated with intangibles of the following: Three Months Ended March 31, Six Months Ended March 31, 2024 2023 2024 2023 Amortization expense $ 8,618 $ 9,418 $ 17,217 $ 18,596 Future amortization expense associated with intangibles is expected to be: Year Ending September 30: 2024 (remaining) $ 16,305 2025 28,293 2026 28,283 2027 28,232 2028 27,636 Thereafter 252,070 $ 380,819

Credit Facilities, Short-term B

Credit Facilities, Short-term Borrowings and Long-term Debt	6 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Credit Facilities, Short-term Borrowings and Long-term Debt	Note 14. 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, which provides for the option to increase available borrowings up to $ 1,500,000 , subject to lenders’ participation (as amended in October 2022, the “Second Amended and Restated Revolving Credit Agreement”). Borrowings under the Second Amended and Restated 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 the Euro Interbank Offered Rate (“Euribor”), Sterling Overnight Index Average (“SONIA”), Tokyo Interbank Offered Rate (“TIBOR”), and Secured Overnight Financing Rate (“SOFR”) base rates plus 0.875 % to 1.75 %. The Revolving Credit Agreement matures on October 21, 2027. Under the Second Amended and Restated Revolving Credit Agreement, there were $ 141,300 in principal amount of borrowings outstanding as of March 31, 2024 at an effective interest rate of 6.46 % as compared to no borrowings outstanding as of September 30, 2023. As of March 31, 2024, all of the borrowings outstanding were classified as short-term borrowings 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 on Woodward’s foreign lines of credit and foreign overdraft facilities as of March 31, 2024 and September 30, 2023. The Notes On November 15, 2023, Woodward paid the entire principal balance of $ 75,000 on the Series H and K Notes using proceeds from borrowings under its existing revolving credit facility.

Accrued Liabilities

Accrued Liabilities	6 Months Ended
	Mar. 31, 2024
Accrued Liabilities, Current [Abstract]
Accrued Liabilities	Note 15. Accrued liabilities March 31, 2024 September 30, 2023 Salaries and other member benefits $ 98,019 $ 146,713 Product warranties and related liabilities 19,800 18,162 Interest payable 12,199 13,611 Accrued retirement benefits 2,844 2,822 Net current contract liabilities 48,821 33,748 Taxes, other than income 18,981 13,436 Other 36,280 34,124 $ 236,944 $ 262,616 Product warranties and related liabilities Provisions of Woodward’s sales agreements include product warranties customary to these types of agreements. Accruals are established for specifically identified warranty issues and related liabilities for which are probable to result in future costs. Warranty costs are accrued because revenue is recognized on a non-specific basis whenever past experience indicates a normal and predictable pattern exists. Changes in accrued product warranties and related liabilities were as follows: Three Months Ended March 31, Six Months Ended March 31, 2024 2023 2024 2023 Beginning of period $ 21,802 $ 49,526 $ 18,162 $ 40,042 Additions, net of recoveries 4,653 3,413 9,959 20,423 Reductions for settlement ( 6,579 ) ( 6,501 ) ( 8,406 ) ( 14,203 ) Foreign currency exchange rate changes ( 76 ) 54 85 230 End of period $ 19,800 $ 46,492 $ 19,800 $ 46,492 Restructuring charges In fiscal year 2022, the Company determined to implement a streamlined Aerospace and Industrial organizational and leadership structure designed to enhance the sales experience for customers, simplify operations, and increase profitability through improved execution. In connection with leadership changes arising from such reorganization, we recorded $ 1,083 of restructuring charges as nonsegment expenses, which were paid as of December 31, 2022. During the second quarter of fiscal year 2023, the Company committed to a cost reduction plan ("Cost Reduction Plan") to better align the cost structure and recorded $ 5,172 of restructuring charges. The charges recognized under the Cost Reduction Plan consist of workforce management costs primarily related to aligning the cost structure of the Company's Industrial segment with the current market conditions. All of the restructuring charges were recorded as nonsegment expenses. As of March 31, 2023, $ 2,836 was paid and the remaining restructuring charges were paid within the next twelve months.

Other Liabilities

Other Liabilities	6 Months Ended
	Mar. 31, 2024
Other Liabilities, Noncurrent [Abstract]
Other Liabilities	Note 16. Other liabilities March 31, 2024 September 30, 2023 Net accrued retirement benefits, less amounts recognized within accrued liabilities $ 78,464 $ 72,570 Total unrecognized tax benefits 9,351 8,020 Noncurrent income taxes payable 5,894 10,714 Deferred economic incentives (1) 5,151 5,797 Noncurrent operating lease liabilities 19,202 20,685 Net noncurrent contract liabilities 426,810 414,657 Cross-currency swap derivative liability 4,968 — Other 11,090 11,047 $ 560,930 $ 543,490 (1) 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.

Other (Income) Expense, Net

Other (Income) Expense, Net	6 Months Ended
	Mar. 31, 2024
Nonoperating Income (Expense) [Abstract]
Other (Income) Expense, Net	Note 17. Other (income) expense, net Three Months Ended March 31, Six Months Ended March 31, 2024 2023 2024 2023 Equity interest in the earnings of the JV $ ( 8,701 ) $ ( 8,468 ) $ ( 18,856 ) $ ( 13,041 ) Net (gain) loss on sales of assets and businesses ( 863 ) 857 ( 872 ) 890 Gain on non-recurring matter related to a previous acquisition — — ( 4,803 ) — Rent income ( 88 ) ( 93 ) ( 170 ) ( 181 ) Net gain on investments in deferred compensation program ( 1,785 ) ( 1,679 ) ( 4,394 ) ( 2,870 ) Other components of net periodic pension and other postretirement benefit, excluding service cost and interest expense ( 2,947 ) ( 2,675 ) ( 5,866 ) ( 5,160 ) Other — 18 ( 62 ) ( 68 ) $ ( 14,384 ) $ ( 12,040 ) $ ( 35,023 ) $ ( 20,430 )

Income Taxes

Income Taxes	6 Months Ended
	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Note 18. Income taxes The determination of the estimated annual effective tax rate is based upon a number of significant estimates and judgments. 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, issuance of future guidance, interpretation, and rule-making, and other factors that cannot be predicted with certainty. As such, there can be significant volatility in interim tax provisions. The following table sets forth the tax expense and the effective tax rate for Woodward’s earnings before income taxes: Three Months Ended March 31, Six Months Ended March 31, 2024 2023 2024 2023 Earnings before income taxes $ 120,624 $ 40,241 $ 230,344 $ 71,990 Income tax expense 23,068 4,730 42,744 6,873 Effective tax rate 19.1 % 11.8 % 18.6 % 9.5 % The increase in the effective tax rate for the second quarter as compared to the same period of the prior fiscal year is primarily attributable to higher projected full-year earnings taxed at statutory rates ranging between approximately 19 % and 35 %. These higher projected earnings and higher actual quarterly earnings resulted in lower current quarter tax benefits as a percent of earnings when compared to the prior quarter. Additionally, the increase is attributable to projected future withholding taxes on unremitted foreign earnings. The increase in the effective tax rate for the first half of fiscal year 2024 as compared to the same period of the prior fiscal year is primarily attributable to higher projected full-year earnings taxed at statutory rates ranging between approximately 19 % and 35 %. These higher projected earnings and higher actual year-to-date earnings resulted in lower current year-to-date tax benefits as a percent of earnings when compared to the prior year. Additionally, the increase is attributable to projected future withholding taxes on unremitted foreign earnings and the release of uncertain tax positions that did not recur in the current fiscal year. Gross unrecognized tax benefits were $ 12,715 as of March 31, 2024 , and $ 11,112 as of September 30, 2023. At March 31, 2024 , the amount of the liability for unrecognized tax benefits that, if recognized, would impact Woodward’s effective tax rate was $ 8,110 . Woodward believes it is reasonably possible that the liability for unrecognized tax benefits will decrease by as much as $ 2,178 in the next twelve months due to the completion of review by tax authorities, lapses of statutes, and the settlement of tax positions. Woodward’s tax expense includes accruals for potential interest and penalties related to unrecognized tax benefits and all other interest and penalties related to tax payments. 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 limitation may result in changes to tax expense. Generally, Woodward’s fiscal years remaining open to examination for U.S. Federal income taxes include fiscal years 2020 and thereafter. Woodward’s fiscal years remaining open to examination for significant U.S. state income tax jurisdictions include fiscal years 2019 and thereafter. Woodward’s fiscal years remaining open to examination in significant foreign jurisdictions include 2018 and thereafter.

Retirement Benefits

Retirement Benefits	6 Months Ended
	Mar. 31, 2024
Retirement Benefits [Abstract]
Retirement Benefits	Note 19. 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 "Retirement Savings Plan"). The Retirement Savings 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 non-U.S. employees are also eligible to participate in similar non-U.S. plans. Woodward's U.S. employees 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 159 shares of common stock for a value of $ 21,887 in the second quarter of fiscal year 2024, compared to a total of 187 shares of common stock for a value of $ 19,307 in the second quarter of fiscal year 2023. The amount of expense associated with defined contribution plans was as follows: Three Months Ended March 31, Six Months Ended March 31, 2024 2023 2024 2023 Company costs $ 12,902 $ 11,838 $ 24,077 $ 21,940 Defined benefit plans Woodward has defined benefit plans that provide pension benefits for certain retired employees in the United States, the United Kingdom, Japan, and Germany. 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, their covered dependents, and beneficiaries in the United States. Life insurance benefits are provided to certain retirees in the United States under frozen plans, which are no longer available to current employees. A September 30 measurement date is utilized to value plan assets and obligations for all of Woodward’s defined benefit pension and other postretirement benefit plans. U.S. GAAP requires that, for obligations outstanding as of September 30, 2023, 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. The components of the net periodic retirement pension costs recognized are as follows: Three Months Ended March 31, United States Other Countries Total 2024 2023 2024 2023 2024 2023 Service cost $ 194 $ 224 $ 312 $ 332 $ 506 $ 556 Interest cost 1,900 1,825 803 778 2,703 2,603 Expected return on plan assets ( 2,271 ) ( 2,075 ) ( 602 ) ( 573 ) ( 2,873 ) ( 2,648 ) Amortization of: Net actuarial loss (gain) 56 73 ( 171 ) ( 153 ) ( 115 ) ( 80 ) Prior service cost 175 175 5 6 180 181 Net periodic retirement pension cost $ 54 $ 222 $ 347 $ 390 $ 401 $ 612 Contributions paid $ — $ — $ 746 $ 736 $ 746 $ 736 Six Months Ended March 31, United States Other Countries Total 2024 2023 2024 2023 2024 2023 Service cost $ 388 $ 447 $ 621 $ 652 $ 1,009 $ 1,099 Interest cost 3,799 3,649 1,596 1,528 5,395 5,177 Expected return on plan assets ( 4,542 ) ( 4,149 ) ( 1,194 ) ( 1,124 ) ( 5,736 ) ( 5,273 ) Amortization of: Net actuarial loss (gain) 113 146 ( 339 ) ( 301 ) ( 226 ) ( 155 ) Prior service cost 349 349 11 11 360 360 Net periodic retirement pension cost $ 107 $ 442 $ 695 $ 766 $ 802 $ 1,208 Contributions paid $ — $ — $ 1,339 $ 1,298 $ 1,339 $ 1,298 The components of net periodic retirement pension costs other than the service cost and interest cost components are included in the line item “Other (income) expense, net”, and the interest component is included in the line item “Interest expense” in the Condensed Consolidated Statements of Earnings. The components of the net periodic other postretirement benefit costs recognized are as follows: Three Months Ended March 31, Six Months Ended March 31, 2024 2023 2024 2023 Interest cost $ 225 $ 226 $ 451 $ 452 Amortization of: Net actuarial gain ( 139 ) ( 124 ) ( 278 ) ( 248 ) Net periodic other postretirement cost $ 86 $ 102 $ 173 $ 204 Contributions paid $ 413 $ 444 $ 825 $ 885 The components of net periodic other postretirement benefit costs other than the service cost and interest cost components are included in the line item “Other (income) expense, net”, and the interest cost component is included in the line item “Interest expense” in the Condensed Consolidated Statements of Earnings. The amount of cash contributions made to these plans in any year is dependent upon a number of factors, including minimum funding requirements in the jurisdictions in which Woodward operates and arrangements made with trustees of certain foreign plans. As a result, the actual funding in fiscal year 2024 may differ from the current estimate. Woodward estimates its remaining cash contributions in fiscal year 2024 will be as follows: Retirement pension benefits: United States $ — United Kingdom 558 Japan — Germany 493 Other postretirement benefits 1,851

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Stockholders' Equity	Note 20. Stockholders’ equity Common stock and treasury stock Activity in common stock and treasury stock share are as follows: Common Stock Treasury Stock Treasury stock held for deferred compensation Balances as of January 1, 2023 72,960 ( 13,460 ) ( 122 ) Sales of treasury stock — 251 — Common shares issued for benefit plans — 187 — Purchases of stock by deferred compensation — — — Distribution of stock from deferred compensation — — 55 Balances as of March 31, 2023 72,960 ( 13,022 ) ( 67 ) Balances as of January 1, 2024 72,960 ( 12,823 ) ( 54 ) Sales of treasury stock — 479 — Common shares issued for benefit plans — 159 — Purchases of stock by deferred compensation — — — Distribution of stock from deferred compensation — — 1 Balances as of March 31, 2024 72,960 ( 12,185 ) ( 53 ) Common Stock Treasury Stock Treasury stock held for deferred compensation Balances as of September 30, 2022 72,960 ( 13,207 ) ( 139 ) Sales of treasury stock — 270 — Purchase of treasury stock — ( 274 ) — Common shares issued for benefit plans — 189 — Purchases of stock by deferred compensation — — ( 1 ) Distribution of stock from deferred compensation — — 73 Balances as of March 31, 2023 72,960 ( 13,022 ) ( 67 ) Balances as of September 30, 2023 72,960 ( 13,070 ) ( 55 ) Sales of treasury stock — 726 — Common shares issued for benefit plans — 159 — Purchases of stock by deferred compensation — — ( 1 ) Distribution of stock from deferred compensation — — 3 Balances as of March 31, 2024 72,960 ( 12,185 ) ( 53 ) Stock repurchase program In January 2022, the Woodward board of directors (the "Board") authorized a program for the repurchase of up to $ 800,000 of Woodward’s outstanding shares of common stock on the open market or in privately negotiated transactions over a two-year period ending in January 2024 (the “2022 Authorization”). During the first six months of fiscal year 2023, Woodward repurchased 274 shares of its common stock for $ 26,369 . In January 2024, the Board terminated the 2022 Authorization, which was nearing expiration, and concurrently authorized a new program for the repurchase of up to $ 600,000 of Woodward’s outstanding shares of common stock on the open market or in privately negotiated transactions over a three-year period ending in January 2027 (the “2024 Authorization”). During the first six months of fiscal year 2024, Woodward repurchased no shares of its common stock. Stock-based compensation Provisions governing outstanding stock option awards, restricted stock units ("RSUs"), and performance restricted stock units ("PSUs") are included in the 2017 Omnibus Incentive Plan, as amended from time to time (the “2017 Plan”) and, with respect to outstanding stock options awarded in or prior to 2016, the 2006 Omnibus Incentive Plan (the “2006 Plan”). The 2017 Plan was first approved by Woodward’s stockholders in January 2017 and is the successor plan to the 2006 Plan. The Board has delegated authority to administer the 2017 Plan to the Compensation Committee of the Board, including, but not limited to, the power to determine the recipients of awards and the terms of those awards. On January 25, 2023, Woodward’s stockholders approved an additional 500 shares of Woodward’s common stock to be made available for future grants. Under the 2017 Plan, there were approximately 2,209 shares of Woodward’s common stock available for future grants as of March 31, 2024 and 2,689 shares as of September 30, 2023. Stock options 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 have 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. 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. The following is a summary of the activity for stock option awards: Three Months Ended March 31, 2024 Six Months Ended March 31, 2024 Number of options Weighted-Average Exercise Price per Share Number of options Weighted-Average Exercise Price per Share Beginning balance 4,611 $ 80.99 4,842 $ 80.48 Granted 81 137.76 87 137.36 Exercised ( 475 ) 67.93 ( 710 ) 69.19 Forfeited ( 4 ) 91.51 ( 6 ) 91.84 Ending balance 4,213 $ 83.54 4,213 $ 83.54 Changes in non-vested stock options were as follows: Three Months Ended March 31, 2024 Six Months Ended March 31, 2024 Number of options Weighted-Average Grant Date Fair Value per Share Number of options Weighted-Average Grant Date Fair Value Per Share Beginning balance 858 $ 35.37 1,393 $ 33.96 Granted 81 58.15 87 58.34 Vested ( 9 ) 31.78 ( 549 ) 32.01 Forfeited ( 4 ) 35.54 ( 5 ) 35.24 Ending balance 926 $ 37.40 926 $ 37.40 Information about stock options that have vested, or are expected to vest, and are exercisable at March 31, 2024 was as follows: Number of options Weighted-Average Exercise Price Weighted-Average Remaining Life in Years Aggregate Intrinsic Value Options outstanding 4,213 $ 83.54 5.5 $ 297,376 Options vested and exercisable 3,287 79.53 4.8 245,191 Options vested and expected to vest 4,177 83.37 5.5 295,556 R estricted stock units The Company generally grants RSUs to eligible employees under its form RSU agreement for employees (the “Standard Form RSU Agreement”). RSUs granted under the Standard Form RSU Agreement prior to November 14, 2023, generally have a four-year vesting schedule at a rate of 25 % per year, and RSUs granted after November 14, 2023 have a three-year vesting schedule at a rate of 33.3 % per year, in each case generally subject to continued employment. The Company has also granted RSUs to certain employees under its form attraction and retention RSU agreement (the “Form Attraction and Retention RSU Agreement”), which has from time to time been used for new hires and specific retention purposes. RSUs granted under the Form Attraction and Retention Agreement are generally scheduled to fully vest on the third or fourth anniversary of the respective grant dates, and in each case, subject to continued employment. A summary of the activity for RSUs: Three Months Ended March 31, 2024 Six Months Ended March 31, 2024 Number of units Weighted-Average Grant Date Fair Value Number of units Weighted-Average Grant Date Fair Value Beginning balance 170 $ 96.95 177 $ 93.46 Granted 155 137.76 167 137.33 Released ( 5 ) 89.03 ( 24 ) 86.59 Forfeited ( 1 ) 111.78 ( 1 ) 108.48 Ending balance 319 $ 116.90 319 $ 116.90 Performance restricted stock units In November 2023, the Company granted PSUs to certain employees under its form PSU agreement that generally will vest subject to a market condition and a service condition through the performance period. The market condition associated with the awards is based on the Company's relative total shareholder return ("TSR") compared to the TSR generated by the other companies that comprise the S&P 400 Midcap Index over a three-year performance period. Performance at target will result in vesting and issuance of the number of PSUs granted, equal to 100 % payout. Performance below or above target can result in an issuance of between 0 % - 150 % of the target number of PSUs granted. Expense is recognized based on the weighted average grant date fair value on a straight line basis over the service period, irrespective as to whether the market condition is achieved. The fair value of the PSUs for the November 2023 grant was determined based upon a Monte Carlo valuation method. The assumptions used in the Monte Carlo method to value the PSUs granted, which includes the grant date fair value outcome from the Monte Carlo method, were as follows: March 31, 2024 Expected volatility 30.2 % Risk free interest rate 4.5 % Expected life 3 years Grant date fair value $ 146.47 The PSUs granted receive dividend equivalent units; therefore, no discount was applied for Woodward’s dividends. A summary of the activity for PSUs: Three Months Ended March 31, 2024 Six Months Ended March 31, 2024 Number of units Weighted-Average Grant Date Fair Value Number of units Weighted-Average Grant Date Fair Value Beginning balance 66 $ 146.47 — $ — Granted — — 66 146.47 Forfeited — — — — Ending balance 66 $ 146.47 66 $ 146.47 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, form RSU agreements, and form PSU agreements used by the Company, with terms approved by the administrator of the applicable plan, the requisite service period can be less than the vesting period defined in the applicable award agreement based on grantee’s retirement eligibility. As such, the recognition of stock-based compensation expense associated with some stock option grants, RSU grants, and PSU grants can be accelerated to a period of less than the vesting period, including immediate recognition of stock-based compensation expense on the date of grant. In connection with an executive separation and release agreement entered into by the Company during the second quarter of fiscal year 2024, Woodward recognized an additional $ 1,682 of stock compensation expense, before tax. At March 31, 2024 , there was approximately $ 39,926 of total unrecognized compensation expense related to non-vested stock-based compensation arrangements, including stock options, RSUs, and PSUs. The pre-vesting forfeiture rates for purposes of determining stock-based compensation expense recognized were estimated to be 0.0 % for members of the Board and 7.3 % for all others. The remaining unrecognized compensation cost is expected to be recognized over a weighted-average period of approximately 1.6 years.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 21. 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 reviews 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. Under the Company’s severance and change in control agreements with its current corporate officers, Woodward would be required to pay termination benefits to any such officer if such officer’s employment is terminated without Cause or for Good Reason (as each term is defined therein). The amount of such benefits would vary depending on whether such termination occurs during a specified period within a change of control.

Segment Information

Segment Information	6 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
Segment Information	Note 22. 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 March 31, Six Months Ended March 31, 2024 2023 2024 2023 Segment external net sales: Aerospace $ 497,512 $ 437,017 $ 958,268 $ 832,702 Industrial 337,831 281,197 663,805 504,131 Total consolidated net sales $ 835,343 $ 718,214 $ 1,622,073 $ 1,336,833 Segment earnings: Aerospace $ 98,451 $ 73,314 $ 177,453 $ 128,748 Industrial 65,244 37,571 132,125 48,973 Nonsegment expenses ( 32,834 ) ( 58,307 ) ( 59,034 ) ( 82,618 ) Interest expense, net ( 10,237 ) ( 12,337 ) ( 20,200 ) ( 23,113 ) Consolidated earnings before income taxes $ 120,624 $ 40,241 $ 230,344 $ 71,990 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, 2024 September 30, 2023 Segment assets: Aerospace $ 1,890,089 $ 1,829,410 Industrial 1,563,424 1,490,341 Unallocated corporate property, plant, and equipment, net 120,202 104,962 Other unallocated assets 792,544 585,490 Consolidated total assets $ 4,366,259 $ 4,010,203

Subsequent Events

Subsequent Events	6 Months Ended
	Mar. 31, 2024
Subsequent Events [Abstract]
Subsequent Events	Note 23. Subsequent events On April 23, 2024, the Board approved a cash dividend of $ 0.25 per share for the quarter, payable on June 5, 2024 , for stockholders of record as of May 22, 2024 .

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Revenue Recognition Time	The amount of revenue recognized as point in time or over time follows: Three Months Ended March 31, 2024 Three Months Ended March 31, 2023 Aerospace Industrial Consolidated Aerospace Industrial Consolidated Point in time $ 229,171 $ 203,232 $ 432,403 $ 188,248 $ 177,660 $ 365,908 Over time 268,341 134,599 402,940 248,769 103,537 352,306 Total net sales $ 497,512 $ 337,831 $ 835,343 $ 437,017 $ 281,197 $ 718,214 Six Months Ended March 31, 2024 Six Months Ended March 31, 2023 Aerospace Industrial Consolidated Aerospace Industrial Consolidated Point in time $ 417,674 $ 389,862 $ 807,536 $ 358,088 $ 317,499 $ 675,587 Over time 540,594 273,943 814,537 474,614 186,632 661,246 Total net sales $ 958,268 $ 663,805 $ 1,622,073 $ 832,702 $ 504,131 $ 1,336,833
Schedule of Accounts Receivable	Accounts receivable consisted of the following: March 31, 2024 September 30, 2023 Billed receivables Trade accounts receivable $ 478,207 $ 434,287 Other (Chinese financial institutions) 51,920 50,940 Total billed receivables 530,127 485,227 Current unbilled receivables (contract assets) 308,776 270,479 Total accounts receivable 838,903 755,706 Less: Allowance for uncollectible amounts ( 7,126 ) ( 5,847 ) Total accounts receivable, net $ 831,777 $ 749,859
Schedule of Uncollectible Amounts And Change in Expected Allowance for Credit Losses for Trade Accounts Receivable and Unbilled Receivables	The allowance for uncollectible amounts and change in expected credit losses for trade accounts receivable and unbilled receivables (contract assets) consisted of the following: Three Months Ended March 31, Six Months Ended March 31, 2024 2023 2024 2023 Balance, beginning $ 5,777 $ 4,203 $ 5,847 $ 3,922 Changes in estimates 1,398 6,042 1,696 6,470 Write-offs ( 16 ) ( 247 ) ( 475 ) ( 330 ) Other 1 ( 33 ) ( 49 ) 58 ( 113 ) Balance, ending $ 7,126 $ 9,949 $ 7,126 $ 9,949 (1) Includes effects of foreign exchange rate changes during the period.
Schedule of Contract Liability	Contract liabilities consisted of the following: March 31, 2024 September 30, 2023 Current Noncurrent Current Noncurrent Deferred revenue from material rights from GE joint venture formation $ 6,364 $ 235,837 $ 6,147 $ 233,997 Deferred revenue from advanced invoicing and/or prepayments from customers 17,414 4,333 6,868 2,196 Liability related to customer supplied inventory 17,941 — 14,543 — Deferred revenue from material rights related to engineering and development funding 7,102 186,640 6,190 178,464 Net contract liabilities $ 48,821 $ 426,810 $ 33,748 $ 414,657
Schedule of Disaggregation of Revenue	Revenue by primary market for the Aerospace reportable segment was as follows: Three Months Ended March 31, Six Months Ended March 31, 2024 2023 2024 2023 Commercial OEM $ 183,517 $ 159,271 $ 354,871 $ 298,146 Commercial aftermarket 163,886 139,445 301,430 266,088 Defense OEM 91,017 87,807 184,442 177,569 Defense aftermarket 59,092 50,494 117,525 90,899 Total Aerospace segment net sales $ 497,512 $ 437,017 $ 958,268 $ 832,702 Revenue by primary market for the Industrial reportable segment was as follows: Three Months Ended March 31, Six Months Ended March 31, 2024 2023 2024 2023 Power generation $ 106,811 $ 94,013 $ 204,917 $ 175,590 Transportation 173,786 118,777 348,255 207,692 Oil and gas 57,234 68,407 110,633 120,849 Total Industrial segment net sales $ 337,831 $ 281,197 $ 663,805 $ 504,131 The customers who each account for approximately 10% or more of net sales of each of Woodward’s reportable segments are as follows: Three Months Ended March 31, 2024 Three Months Ended March 31, 2023 Aerospace RTX Corporation, General Electric Company RTX Corporation, General Electric Company, The Boeing Company Industrial Weichai Westport, Rolls-Royce PLC Rolls-Royce PLC, Caterpillar, Inc. Six Months Ended March 31, 2024 Six Months Ended March 31, 2023 Aerospace General Electric Company, RTX Corporation, The Boeing Company RTX Corporation, General Electric Company, The Boeing Company Industrial Weichai Westport, Rolls-Royce PLC Rolls-Royce PLC, Caterpillar, Inc., Wartsila

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Reconciliation of Net Earnings to Net Earnings Per Share Basic and Diluted	The following is a reconciliation of net earnings to basic earnings per share and diluted earnings per share: Three Months Ended March 31, Six Months Ended March 31, 2024 2023 2024 2023 Numerator: Net earnings $ 97,556 $ 35,511 $ 187,600 $ 65,117 Denominator: Basic shares outstanding 60,427 59,807 60,223 59,736 Dilutive effect of stock options, restricted units, and performance units 1,938 1,420 1,883 1,347 Diluted shares outstanding 62,365 61,227 62,106 61,083 Income per common share: Basic earnings per share $ 1.61 $ 0.59 $ 3.12 $ 1.09 Diluted earnings per share $ 1.56 $ 0.58 $ 3.02 $ 1.07
Anti-dilutive Stock Options Excluded from Computation of Earnings Per Share	The following stock option grants were outstanding but were excluded from the computation of diluted earnings per share because their inclusion would have been anti-dilutive: Three Months Ended March 31, Six Months Ended March 31, 2024 2023 2024 2023 Options 14 1,560 37 1,592 Weighted-average option price $ 122.38 $ 102.01 $ 131.03 $ 101.95
Schedule of Treasury Stock Shares Held for Deferred Compensation Included in Basic and Diluted Shares Outstanding	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 March 31, Six Months Ended March 31, 2024 2023 2024 2023 Weighted-average treasury stock shares held for deferred compensation obligations 54 94 54 109

Leases (Tables)

Leases (Tables)	6 Months Ended
	Mar. 31, 2024
Leases [Abstract]
Lease-Related Assets and Liabilities	Lease-related assets and liabilities were as follows: Classification on the Condensed Consolidated Balance Sheets March 31, 2024 September 30, 2023 Assets: Operating lease Other assets $ 23,326 $ 24,680 Finance lease Property, plant, and equipment, net 2,863 3,337 Total lease assets 26,189 28,017 Current liabilities: Operating lease Accrued liabilities 4,567 4,594 Finance lease Current portion of long-term debt 699 817 Noncurrent liabilities: Operating lease Other liabilities 19,202 20,685 Finance lease Long-term debt, less current portion 2,380 2,733 Total lease liabilities $ 26,848 $ 28,829
Lease-Related Expenses	Lease-related expenses were as follows: Three Months Ended March 31, Six Months Ended March 31, 2024 2023 2024 2023 Operating lease expense $ 1,656 $ 1,586 $ 3,288 $ 3,073 Amortization of finance lease assets 222 156 470 412 Interest on finance lease liabilities 32 40 73 74 Variable lease expense 301 245 529 455 Short-term lease expense 45 51 83 108 Total lease expense $ 2,256 $ 2,078 $ 4,443 $ 4,122
Lease-Related Supplemental Cash Flow Information	Lease-related supplemental cash flow information was as follows: Six Months Ended March 31, 2024 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 2,660 $ 2,621 Operating cash flows for finance leases 73 74 Financing cash flows for finance leases 472 284 Right-of-use assets obtained in exchange for recorded lease obligations: Operating leases 966 714 Finance leases — 43
Property, Plant and Equipment Leased to Others through Embedded Leasing Arrangements	The carrying amount of property, plant, and equipment leased to others through embedded leasing arrangements, included in “Property, plant, and equipment, net” on the Condensed Consolidated Balance Sheets, follows: March 31, 2024 September 30, 2023 Property, plant, and equipment $ 46,544 $ 45,766 Less accumulated depreciation ( 29,981 ) ( 28,128 ) Property, plant, and equipment, net $ 16,563 $ 17,638

Joint Venture (Tables)

Joint Venture (Tables)	6 Months Ended
	Mar. 31, 2024
Equity Method Investments and Joint Ventures [Abstract]
Unamortized Deferred Revenue from JV	Unamortized deferred revenue from material rights in connection with the JV formation included: March 31, 2024 September 30, 2023 Accrued liabilities $ 6,364 $ 6,147 Other liabilities 235,837 233,997
Other Income Related JV	Other income related to Woodward’s equity interest in the earnings of the JV was as follows: Three Months Ended March 31, Six Months Ended March 31, 2024 2023 2024 2023 Other income $ 8,701 $ 8,468 $ 18,856 $ 13,041
Cash Distribution from JV	Cash distributions to Woodward from the JV, recognized in “Other, net” in “Net cash provided by operating activities” on the Condensed Consolidated Statements of Cash Flows, were as follows: Three Months Ended March 31, Six Months Ended March 31, 2024 2023 2024 2023 Cash distributions $ 12,000 $ 5,500 $ 18,500 $ 10,000
Net Sales to the JV	Net sales to the JV were as follows: Three Months Ended March 31, Six Months Ended March 31, 2024 2023 2024 2023 Net sales 1 $ 22,080 $ 7,320 $ 42,352 $ 13,797 (1) Net sales included a reduction of $ 14,992 for the three months and $ 29,531 for the six months ended March 31, 2024 related to royalties owed to the JV by Woodward on sales by Woodward directly to third party aftermarket customers, compared to a reduction to sales of $ 12,888 for the three months and $ 20,458 for the six months ended March 31, 2023 .
Accounts Receivable, Accounts Payable, and Other Assets Related to JV	The Condensed Consolidated Balance Sheets include “Accounts receivable” related to amounts the JV owed Woodward, “Accounts payable” related to amounts Woodward owed the JV, and “Other assets” related to Woodward’s net investment in the JV, as follows: March 31, 2024 September 30, 2023 Accounts receivable $ 5,279 $ 3,666 Accounts payable 7,324 6,276 Other assets 16,384 16,028

Financial Instruments and Fai_2

Financial Instruments and Fair Value Measurements (Tables)	6 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Financial Assets and Liabilities that are Measured at Fair Value on a Recurring Basis	The table below presents information about Woodward’s financial assets and liabilities 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 as defined by the U.S. GAAP fair value hierarchy. At March 31, 2024 At September 30, 2023 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Financial assets: Investments in banks and financial institutions $ 204,724 $ — $ — $ 204,724 $ 28,560 $ — $ — $ 28,560 Equity securities 29,902 — — 29,902 24,913 — — 24,913 Cross-currency interest rate swaps — — — — — 5,389 — 5,389 Total financial assets $ 234,626 $ — $ — $ 234,626 $ 53,473 $ 5,389 $ — $ 58,862 Financial liabilities: Cross-currency interest rate swaps $ — $ 4,968 $ — $ 4,968 $ — $ — $ — $ — Total financial liabilities $ — $ 4,968 $ — $ 4,968 $ — $ — $ — $ —
Estimated Fair Values of Financial Instruments	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, 2024 At September 30, 2023 Fair Value Estimated Carrying Estimated Carrying Assets: Notes receivable from municipalities 2 $ 7,859 $ 7,410 $ 7,794 $ 7,688 Investments in short-term time deposits 2 88 88 6,095 6,107 Liabilities: Long-term debt 2 612,200 650,754 661,507 722,671

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Tables)	6 Months Ended
	Mar. 31, 2024
Derivative Instruments and Hedges, Assets [Abstract]
Impact of Derivative Instruments on Earnings	The following table discloses the amount of (income) expense recognized in earnings on derivative instruments designated as qualifying hedging instruments: Three months ended March 31, Six months ended March 31, Derivatives in: Location 2024 2023 2024 2023 Cross-currency interest rate swap agreement designated as fair value hedges Selling, general and administrative expenses $ — $ 36 $ — $ 937 Cross-currency interest rate swap agreements designated as cash flow hedges Selling, general and administrative expenses ( 8,875 ) 7,584 9,024 44,869 $ ( 8,875 ) $ 7,620 $ 9,024 $ 45,806 The following table discloses the amount of (gain) loss recognized in accumulated OCI on derivative instruments designated as qualifying hedging instruments: Three months ended March 31, Six months ended March 31, Derivatives in: Location 2024 2023 2024 2023 Cross-currency interest rate swap agreement designated as fair value hedges Selling, general and administrative expenses $ — $ 21 $ — $ 917 Cross-currency interest rate swap agreements designated as cash flow hedges Selling, general and administrative expenses ( 7,349 ) 2,075 11,161 33,767 $ ( 7,349 ) $ 2,096 $ 11,161 $ 34,684 The following table discloses the amount of (gain) loss reclassified from accumulated OCI into earnings on derivative instruments designated as qualifying hedging instruments: Three months ended March 31, Six months ended March 31, Derivatives in: Location 2024 2023 2024 2023 Cross-currency interest rate swap agreement designated as fair value hedges Selling, general and administrative expenses $ — $ 36 $ — $ 937 Cross-currency interest rate swap agreements designated as cash flow hedges Selling, general and administrative expenses ( 8,875 ) 7,584 9,024 44,869 $ ( 8,875 ) $ 7,620 $ 9,024 $ 45,806

Supplemental Statement of Cas_2

Supplemental Statement of Cash Flows Information (Tables)	6 Months Ended
	Mar. 31, 2024
Supplemental Cash Flow Information [Abstract]
Schedule of Supplemental Statement of Cash Flows Information	Six Months Ended March 31, 2024 2023 Interest paid, net of amounts capitalized $ 18,068 $ 17,689 Income taxes paid 59,677 44,589 Income tax refunds received 3,662 1,392 Non-cash activities: Purchases of property, plant and equipment on account 2,127 3,743 Common shares issued from treasury to settle benefit obligations 21,887 19,467

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Mar. 31, 2024
Inventory, Net [Abstract]
Schedule of Inventories	March 31, 2024 September 30, 2023 Raw materials $ 159,355 $ 133,699 Work in progress 140,322 127,438 Component parts (1) 352,269 327,522 Finished goods 88,978 74,594 Customer supplied inventory 17,941 14,543 On-hand inventory for which control has transferred to the customer ( 178,488 ) ( 159,953 ) $ 580,377 $ 517,843 (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 (Tables)	6 Months Ended
	Mar. 31, 2024
Property, Plant and Equipment, Net [Abstract]
Schedule of Property Plant and Equipment, Net	March 31, 2024 September 30, 2023 Land and land improvements $ 89,899 $ 89,352 Buildings and building improvements 591,225 589,735 Leasehold improvements 21,445 21,079 Machinery and production equipment 808,980 807,244 Computer equipment and software 117,694 120,290 Office furniture and equipment 41,303 41,943 Other 38,253 20,073 Construction in progress 64,847 55,487 1,773,646 1,745,203 Less accumulated depreciation ( 852,291 ) ( 832,109 ) Property, plant, and equipment, net $ 921,355 $ 913,094
Schedule of Depreciation Expense	Woodward had depreciation expense as follows: Three Months Ended March 31, Six Months Ended March 31, 2024 2023 2024 2023 Depreciation expense $ 20,607 $ 20,535 $ 40,833 $ 40,661

Goodwill (Tables)

Goodwill (Tables)	6 Months Ended
	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	September 30, Effects of Foreign March 31, Aerospace $ 455,423 $ — $ 455,423 Industrial 336,045 5,238 341,283 Consolidated $ 791,468 $ 5,238 $ 796,706

Intangible Assets, Net (Tables)

Intangible Assets, Net (Tables)	6 Months Ended
	Mar. 31, 2024
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Schedule of Finite-lived and Indefinite-lived Intangible Assets by Major Class	March 31, 2024 September 30, 2023 Gross Accumulated Net Gross Accumulated Net Intangible assets with finite lives: Customer relationships and contracts: Aerospace $ 281,683 $ ( 241,513 ) $ 40,170 $ 281,683 $ ( 236,143 ) $ 45,540 Industrial 386,267 ( 101,363 ) 284,904 378,804 ( 90,084 ) 288,720 Total $ 667,950 $ ( 342,876 ) $ 325,074 $ 660,487 $ ( 326,227 ) $ 334,260 Intellectual property: Aerospace $ — $ — $ — $ — $ — $ — Industrial 3,139 ( 3,139 ) — 3,139 ( 3,139 ) — Total $ 3,139 $ ( 3,139 ) $ — $ 3,139 $ ( 3,139 ) $ — Process technology: Aerospace $ 44,570 $ ( 40,026 ) $ 4,544 $ 44,570 $ ( 39,551 ) $ 5,019 Industrial 84,877 ( 33,676 ) 51,201 83,456 ( 31,709 ) 51,747 Total $ 129,447 $ ( 73,702 ) $ 55,745 $ 128,026 $ ( 71,260 ) $ 56,766 Other intangibles: Aerospace $ — $ — $ — $ — $ — $ — Industrial 561 ( 561 ) — 554 ( 524 ) 30 Total $ 561 $ ( 561 ) $ — $ 554 $ ( 524 ) $ 30 Intangible asset with indefinite life: Trade name: Aerospace $ — $ — $ — $ — $ — $ — Industrial 62,595 — 62,595 61,307 — 61,307 Total $ 62,595 $ — $ 62,595 $ 61,307 $ — $ 61,307 Total intangibles: Aerospace $ 326,253 $ ( 281,539 ) $ 44,714 $ 326,253 $ ( 275,694 ) $ 50,559 Industrial 537,439 ( 138,739 ) 398,700 527,260 ( 125,456 ) 401,804 Consolidated Total $ 863,692 $ ( 420,278 ) $ 443,414 $ 853,513 $ ( 401,150 ) $ 452,363
Schedule of Finite-Lived Intangible Assets Amortization Expense	Woodward recorded amortization expense associated with intangibles of the following: Three Months Ended March 31, Six Months Ended March 31, 2024 2023 2024 2023 Amortization expense $ 8,618 $ 9,418 $ 17,217 $ 18,596
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	Future amortization expense associated with intangibles is expected to be: Year Ending September 30: 2024 (remaining) $ 16,305 2025 28,293 2026 28,283 2027 28,232 2028 27,636 Thereafter 252,070 $ 380,819

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	6 Months Ended
	Mar. 31, 2024
Accrued Liabilities, Current [Abstract]
Accrued Liabilities	March 31, 2024 September 30, 2023 Salaries and other member benefits $ 98,019 $ 146,713 Product warranties and related liabilities 19,800 18,162 Interest payable 12,199 13,611 Accrued retirement benefits 2,844 2,822 Net current contract liabilities 48,821 33,748 Taxes, other than income 18,981 13,436 Other 36,280 34,124 $ 236,944 $ 262,616
Changes in Accrued Product Warranties and Related Liabilities	Changes in accrued product warranties and related liabilities were as follows: Three Months Ended March 31, Six Months Ended March 31, 2024 2023 2024 2023 Beginning of period $ 21,802 $ 49,526 $ 18,162 $ 40,042 Additions, net of recoveries 4,653 3,413 9,959 20,423 Reductions for settlement ( 6,579 ) ( 6,501 ) ( 8,406 ) ( 14,203 ) Foreign currency exchange rate changes ( 76 ) 54 85 230 End of period $ 19,800 $ 46,492 $ 19,800 $ 46,492

Other Liabilities (Tables)

Other Liabilities (Tables)	6 Months Ended
	Mar. 31, 2024
Other Liabilities, Noncurrent [Abstract]
Schedule of Other Liabilities	March 31, 2024 September 30, 2023 Net accrued retirement benefits, less amounts recognized within accrued liabilities $ 78,464 $ 72,570 Total unrecognized tax benefits 9,351 8,020 Noncurrent income taxes payable 5,894 10,714 Deferred economic incentives (1) 5,151 5,797 Noncurrent operating lease liabilities 19,202 20,685 Net noncurrent contract liabilities 426,810 414,657 Cross-currency swap derivative liability 4,968 — Other 11,090 11,047 $ 560,930 $ 543,490 (1) 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.

Other (Income) Expense, Net (Ta

Other (Income) Expense, Net (Tables)	6 Months Ended
	Mar. 31, 2024
Nonoperating Income (Expense) [Abstract]
Schedule of Other (Income) Expense, Net	Three Months Ended March 31, Six Months Ended March 31, 2024 2023 2024 2023 Equity interest in the earnings of the JV $ ( 8,701 ) $ ( 8,468 ) $ ( 18,856 ) $ ( 13,041 ) Net (gain) loss on sales of assets and businesses ( 863 ) 857 ( 872 ) 890 Gain on non-recurring matter related to a previous acquisition — — ( 4,803 ) — Rent income ( 88 ) ( 93 ) ( 170 ) ( 181 ) Net gain on investments in deferred compensation program ( 1,785 ) ( 1,679 ) ( 4,394 ) ( 2,870 ) Other components of net periodic pension and other postretirement benefit, excluding service cost and interest expense ( 2,947 ) ( 2,675 ) ( 5,866 ) ( 5,160 ) Other — 18 ( 62 ) ( 68 ) $ ( 14,384 ) $ ( 12,040 ) $ ( 35,023 ) $ ( 20,430 )

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Tax Expense and 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 March 31, Six Months Ended March 31, 2024 2023 2024 2023 Earnings before income taxes $ 120,624 $ 40,241 $ 230,344 $ 71,990 Income tax expense 23,068 4,730 42,744 6,873 Effective tax rate 19.1 % 11.8 % 18.6 % 9.5 %

Retirement Benefits (Tables)

Retirement Benefits (Tables)	6 Months Ended
	Mar. 31, 2024
Defined Benefit Plan Disclosure [Line Items]
Schedule of Amount of Expense Associated with Defined Contribution Plans	The amount of expense associated with defined contribution plans was as follows: Three Months Ended March 31, Six Months Ended March 31, 2024 2023 2024 2023 Company costs $ 12,902 $ 11,838 $ 24,077 $ 21,940
Schedule of Estimated Remaining Cash Contributions	Woodward estimates its remaining cash contributions in fiscal year 2024 will be as follows: Retirement pension benefits: United States $ — United Kingdom 558 Japan — Germany 493 Other postretirement benefits 1,851
Defined Benefit Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Schedule of Net Periodic Benefit Costs	The components of the net periodic retirement pension costs recognized are as follows: Three Months Ended March 31, United States Other Countries Total 2024 2023 2024 2023 2024 2023 Service cost $ 194 $ 224 $ 312 $ 332 $ 506 $ 556 Interest cost 1,900 1,825 803 778 2,703 2,603 Expected return on plan assets ( 2,271 ) ( 2,075 ) ( 602 ) ( 573 ) ( 2,873 ) ( 2,648 ) Amortization of: Net actuarial loss (gain) 56 73 ( 171 ) ( 153 ) ( 115 ) ( 80 ) Prior service cost 175 175 5 6 180 181 Net periodic retirement pension cost $ 54 $ 222 $ 347 $ 390 $ 401 $ 612 Contributions paid $ — $ — $ 746 $ 736 $ 746 $ 736 Six Months Ended March 31, United States Other Countries Total 2024 2023 2024 2023 2024 2023 Service cost $ 388 $ 447 $ 621 $ 652 $ 1,009 $ 1,099 Interest cost 3,799 3,649 1,596 1,528 5,395 5,177 Expected return on plan assets ( 4,542 ) ( 4,149 ) ( 1,194 ) ( 1,124 ) ( 5,736 ) ( 5,273 ) Amortization of: Net actuarial loss (gain) 113 146 ( 339 ) ( 301 ) ( 226 ) ( 155 ) Prior service cost 349 349 11 11 360 360 Net periodic retirement pension cost $ 107 $ 442 $ 695 $ 766 $ 802 $ 1,208 Contributions paid $ — $ — $ 1,339 $ 1,298 $ 1,339 $ 1,298
Other Postretirement Benefit Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Schedule of Net Periodic Benefit Costs	The components of the net periodic other postretirement benefit costs recognized are as follows: Three Months Ended March 31, Six Months Ended March 31, 2024 2023 2024 2023 Interest cost $ 225 $ 226 $ 451 $ 452 Amortization of: Net actuarial gain ( 139 ) ( 124 ) ( 278 ) ( 248 ) Net periodic other postretirement cost $ 86 $ 102 $ 173 $ 204 Contributions paid $ 413 $ 444 $ 825 $ 885

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Mar. 31, 2024
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Summary of Activity in Common Stock and Treasury Stock Share	Activity in common stock and treasury stock share are as follows: Common Stock Treasury Stock Treasury stock held for deferred compensation Balances as of January 1, 2023 72,960 ( 13,460 ) ( 122 ) Sales of treasury stock — 251 — Common shares issued for benefit plans — 187 — Purchases of stock by deferred compensation — — — Distribution of stock from deferred compensation — — 55 Balances as of March 31, 2023 72,960 ( 13,022 ) ( 67 ) Balances as of January 1, 2024 72,960 ( 12,823 ) ( 54 ) Sales of treasury stock — 479 — Common shares issued for benefit plans — 159 — Purchases of stock by deferred compensation — — — Distribution of stock from deferred compensation — — 1 Balances as of March 31, 2024 72,960 ( 12,185 ) ( 53 ) Common Stock Treasury Stock Treasury stock held for deferred compensation Balances as of September 30, 2022 72,960 ( 13,207 ) ( 139 ) Sales of treasury stock — 270 — Purchase of treasury stock — ( 274 ) — Common shares issued for benefit plans — 189 — Purchases of stock by deferred compensation — — ( 1 ) Distribution of stock from deferred compensation — — 73 Balances as of March 31, 2023 72,960 ( 13,022 ) ( 67 ) Balances as of September 30, 2023 72,960 ( 13,070 ) ( 55 ) Sales of treasury stock — 726 — Common shares issued for benefit plans — 159 — Purchases of stock by deferred compensation — — ( 1 ) Distribution of stock from deferred compensation — — 3 Balances as of March 31, 2024 72,960 ( 12,185 ) ( 53 )
Summary of Activity for RSUs	A summary of the activity for RSUs: Three Months Ended March 31, 2024 Six Months Ended March 31, 2024 Number of units Weighted-Average Grant Date Fair Value Number of units Weighted-Average Grant Date Fair Value Beginning balance 170 $ 96.95 177 $ 93.46 Granted 155 137.76 167 137.33 Released ( 5 ) 89.03 ( 24 ) 86.59 Forfeited ( 1 ) 111.78 ( 1 ) 108.48 Ending balance 319 $ 116.90 319 $ 116.90
Stock Options [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Summary of Activity for Stock Option Awards	The following is a summary of the activity for stock option awards: Three Months Ended March 31, 2024 Six Months Ended March 31, 2024 Number of options Weighted-Average Exercise Price per Share Number of options Weighted-Average Exercise Price per Share Beginning balance 4,611 $ 80.99 4,842 $ 80.48 Granted 81 137.76 87 137.36 Exercised ( 475 ) 67.93 ( 710 ) 69.19 Forfeited ( 4 ) 91.51 ( 6 ) 91.84 Ending balance 4,213 $ 83.54 4,213 $ 83.54
Changes in Non-vested Stock Options	Changes in non-vested stock options were as follows: Three Months Ended March 31, 2024 Six Months Ended March 31, 2024 Number of options Weighted-Average Grant Date Fair Value per Share Number of options Weighted-Average Grant Date Fair Value Per Share Beginning balance 858 $ 35.37 1,393 $ 33.96 Granted 81 58.15 87 58.34 Vested ( 9 ) 31.78 ( 549 ) 32.01 Forfeited ( 4 ) 35.54 ( 5 ) 35.24 Ending balance 926 $ 37.40 926 $ 37.40
Stock Options Vested, or Expected to Vest and Exercisable	Information about stock options that have vested, or are expected to vest, and are exercisable at March 31, 2024 was as follows: Number of options Weighted-Average Exercise Price Weighted-Average Remaining Life in Years Aggregate Intrinsic Value Options outstanding 4,213 $ 83.54 5.5 $ 297,376 Options vested and exercisable 3,287 79.53 4.8 245,191 Options vested and expected to vest 4,177 83.37 5.5 295,556 R
Performance Restricted Stock Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Schedule of Assumptions to Value PSUs Granted	The fair value of the PSUs for the November 2023 grant was determined based upon a Monte Carlo valuation method. The assumptions used in the Monte Carlo method to value the PSUs granted, which includes the grant date fair value outcome from the Monte Carlo method, were as follows: March 31, 2024 Expected volatility 30.2 % Risk free interest rate 4.5 % Expected life 3 years Grant date fair value $ 146.47
Summary of Activity for PSUs	A summary of the activity for PSUs: Three Months Ended March 31, 2024 Six Months Ended March 31, 2024 Number of units Weighted-Average Grant Date Fair Value Number of units Weighted-Average Grant Date Fair Value Beginning balance 66 $ 146.47 — $ — Granted — — 66 146.47 Forfeited — — — — Ending balance 66 $ 146.47 66 $ 146.47

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
Summary of Consolidated Net Sales and Earnings by Segment	A summary of consolidated net sales and earnings by segment follows: Three Months Ended March 31, Six Months Ended March 31, 2024 2023 2024 2023 Segment external net sales: Aerospace $ 497,512 $ 437,017 $ 958,268 $ 832,702 Industrial 337,831 281,197 663,805 504,131 Total consolidated net sales $ 835,343 $ 718,214 $ 1,622,073 $ 1,336,833 Segment earnings: Aerospace $ 98,451 $ 73,314 $ 177,453 $ 128,748 Industrial 65,244 37,571 132,125 48,973 Nonsegment expenses ( 32,834 ) ( 58,307 ) ( 59,034 ) ( 82,618 ) Interest expense, net ( 10,237 ) ( 12,337 ) ( 20,200 ) ( 23,113 ) Consolidated earnings before income taxes $ 120,624 $ 40,241 $ 230,344 $ 71,990
Summary of Consolidated Total Assets by Segment	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, 2024 September 30, 2023 Segment assets: Aerospace $ 1,890,089 $ 1,829,410 Industrial 1,563,424 1,490,341 Unallocated corporate property, plant, and equipment, net 120,202 104,962 Other unallocated assets 792,544 585,490 Consolidated total assets $ 4,366,259 $ 4,010,203

Revenue (Schedule of Revenue Re

Revenue (Schedule of Revenue Recognition Time) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Disaggregation Of Revenue [Line Items]
Net sales	$ 835,343	$ 718,214	$ 1,622,073	$ 1,336,833
Aerospace [Member]
Disaggregation Of Revenue [Line Items]
Net sales	497,512	437,017	958,268	832,702
Industrial [Member]
Disaggregation Of Revenue [Line Items]
Net sales	337,831	281,197	663,805	504,131
Point In Time [Member]
Disaggregation Of Revenue [Line Items]
Net sales	432,403	365,908	807,536	675,587
Point In Time [Member] | Aerospace [Member]
Disaggregation Of Revenue [Line Items]
Net sales	229,171	188,248	417,674	358,088
Point In Time [Member] | Industrial [Member]
Disaggregation Of Revenue [Line Items]
Net sales	203,232	177,660	389,862	317,499
Over Time [Member]
Disaggregation Of Revenue [Line Items]
Net sales	402,940	352,306	814,537	661,246
Over Time [Member] | Aerospace [Member]
Disaggregation Of Revenue [Line Items]
Net sales	268,341	248,769	540,594	474,614
Over Time [Member] | Industrial [Member]
Disaggregation Of Revenue [Line Items]
Net sales	$ 134,599	$ 103,537	$ 273,943	$ 186,632

Revenue (Schedule of Accounts R

Revenue (Schedule of Accounts Receivable) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Sep. 30, 2023
Contract With Customer Asset [Line Items]
Total billed receivables	$ 530,127	$ 485,227
Current unbilled receivables (contract assets)	308,776	270,479
Total accounts receivable	838,903	755,706
Less: Allowance for uncollectible amounts	(7,126)	(5,847)
Total accounts receivable, net	831,777	749,859
Trade Accounts Receivable [Member]
Contract With Customer Asset [Line Items]
Billed receivables	478,207	434,287
Other (Chinese Financial Institutions) [Member]
Contract With Customer Asset [Line Items]
Billed receivables	$ 51,920	$ 50,940

Revenue (Narrative) (Details)

Revenue (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Noncurrent unbilled receivables	$ 8,953		$ 8,953		$ 7,332
Revenue from contract liabilities	$ 8,232	$ 5,299	$ 21,265	$ 14,184

Revenue (Schedule of Uncollecti

Revenue (Schedule of Uncollectible Amounts And Change in Expected Allowance for Credit Losses for Trade Accounts Receivable and Unbilled Receivables) (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Balance, beginning		$ 5,777	$ 4,203	$ 5,847	$ 3,922
Changes in estimates		1,398	6,042	1,696	6,470
Write-offs		(16)	(247)	(475)	(330)
Other	[1]	(33)	49	58	(113)
Balance, ending		$ 7,126	$ 9,949	$ 7,126	$ 9,949
[1] Includes effects of foreign exchange rate changes during the period.

Revenue (Schedule of Contract L

Revenue (Schedule of Contract Liability) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Sep. 30, 2023
Contract With Customer Liability [Line Items]
Current contract liabilities	$ 48,821	$ 33,748
Noncurrent contract liabilities	426,810	414,657
Deferred Revenue From Material Rights From GE Joint Venture Formation [Member]
Contract With Customer Liability [Line Items]
Current contract liabilities	6,364	6,147
Noncurrent contract liabilities	235,837	233,997
Deferred Revenue From Advance Invoicing And/Or Prepayments From Customers [Member]
Contract With Customer Liability [Line Items]
Current contract liabilities	17,414	6,868
Noncurrent contract liabilities	4,333	2,196
Liability Related To Customer Supplied Inventory [Member]
Contract With Customer Liability [Line Items]
Current contract liabilities	17,941	14,543
Deferred Revenue From Material Rights Related To Engineering And Development Funding [Member]
Contract With Customer Liability [Line Items]
Current contract liabilities	7,102	6,190
Noncurrent contract liabilities	$ 186,640	$ 178,464

Revenue (Narrative - Performanc

Revenue (Narrative - Performance Obligations) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Sep. 30, 2023
Remaining performance obligation amount	$ 2,376,029	$ 2,325,533
Material Rights [Member]
Remaining performance obligation amount	$ 519,887

Revenue (Narrative - Performa_2

Revenue (Narrative - Performance Obligations) (Details1) - USD ($) $ in Thousands	Mar. 31, 2024	Sep. 30, 2023
Remaining performance obligation amount	$ 2,376,029	$ 2,325,533
Material Rights [Member]
Remaining performance obligation amount	$ 519,887
Material Rights [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2024-01-01
Period of remaining performance obligation, expected timing of satisfaction	6 months
Remaining performance obligation amount	$ 8,471
Material Rights [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2024-04-01
Remaining performance obligation, expected timing of satisfaction, year	2024
Material Rights [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2024-10-01
Period of remaining performance obligation, expected timing of satisfaction	1 year
Remaining performance obligation amount	$ 15,986
Remaining performance obligation, expected timing of satisfaction, year	2025
Aerospace [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2024-01-01
Period of remaining performance obligation, expected timing of satisfaction	2 years
Maximum [Member] | Material Rights [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2025-10-01
Period of remaining performance obligation, expected timing of satisfaction	40 years

Revenue (Schedule of Disaggrega

Revenue (Schedule of Disaggregation of Revenue) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Disaggregation Of Revenue [Line Items]
Total net sales	$ 835,343	$ 718,214	$ 1,622,073	$ 1,336,833
Aerospace [Member]
Disaggregation Of Revenue [Line Items]
Total net sales	497,512	437,017	958,268	832,702
Aerospace [Member] | Commercial OEM [Member]
Disaggregation Of Revenue [Line Items]
Total net sales	183,517	159,271	354,871	298,146
Aerospace [Member] | Commercial Aftermarket [Member]
Disaggregation Of Revenue [Line Items]
Total net sales	163,886	139,445	301,430	266,088
Aerospace [Member] | Defense OEM [Member]
Disaggregation Of Revenue [Line Items]
Total net sales	91,017	87,807	184,442	177,569
Aerospace [Member] | Defense Aftermarket [Member]
Disaggregation Of Revenue [Line Items]
Total net sales	59,092	50,494	117,525	90,899
Industrial [Member]
Disaggregation Of Revenue [Line Items]
Total net sales	337,831	281,197	663,805	504,131
Industrial [Member] | Power Generation [Member]
Disaggregation Of Revenue [Line Items]
Total net sales	106,811	94,013	204,917	175,590
Industrial [Member] | Transportation [Member]
Disaggregation Of Revenue [Line Items]
Total net sales	173,786	118,777	348,255	207,692
Industrial [Member] | Oil and Gas [Member]
Disaggregation Of Revenue [Line Items]
Total net sales	$ 57,234	$ 68,407	$ 110,633	$ 120,849

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, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Numerator:
Net earnings	$ 97,556	$ 35,511	$ 187,600	$ 65,117
Denominator:
Basic shares outstanding	60,427	59,807	60,223	59,736
Dilutive effect of stock options and restricted stock	1,938	1,420	1,883	1,347
Diluted shares outstanding	62,365	61,227	62,106	61,083
Income per common share:
Basic earnings per share	$ 1.61	$ 0.59	$ 3.12	$ 1.09
Diluted earnings per share	$ 1.56	$ 0.58	$ 3.02	$ 1.07

Earnings Per Share (Anti-diluti

Earnings Per Share (Anti-dilutive Stock Options Excluded from Computation of Earnings Per Share) (Details) - Stock Options [Member] - $ / shares shares in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Options	14	1,560	37	1,592
Weighted-average option price	$ 122.38	$ 102.01	$ 131.03	$ 101.95

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, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Earnings Per Share [Abstract]
Weighted-average treasury stock shares held for deferred compensation obligations	54	94	54	109

Leases (Lease-Related Assets an

Leases (Lease-Related Assets and Liabilities) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Sep. 30, 2023
Assets:
Operating lease	$ 23,326	$ 24,680
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other Assets, Noncurrent	Other Assets, Noncurrent
Finance lease	$ 2,863	$ 3,337
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Property, Plant and Equipment, Net	Property, Plant and Equipment, Net
Total lease assets	$ 26,189	$ 28,017
Current liabilities:
Operating lease	$ 4,567	$ 4,594
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued Liabilities, Current	Accrued Liabilities, Current
Finance lease	$ 699	$ 817
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Long-Term Debt, Current Maturities	Long-Term Debt, Current Maturities
Noncurrent liabilities:
Operating lease	$ 19,202	$ 20,685
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Noncurrent	Other Liabilities, Noncurrent
Finance lease	$ 2,380	$ 2,733
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Long-Term Debt, Excluding Current Maturities	Long-Term Debt, Excluding Current Maturities
Total lease liabilities	$ 26,848	$ 28,829

Leases (Lease-Related Expenses)

Leases (Lease-Related Expenses) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Leases [Abstract]
Operating lease expense	$ 1,656	$ 1,586	$ 3,288	$ 3,073
Amortization of finance lease assets	222	156	470	412
Interest on finance lease liabilities	32	40	73	74
Variable lease expense	301	245	529	455
Short-term lease expense	45	51	83	108
Total lease expense	$ 2,256	$ 2,078	$ 4,443	$ 4,122

Leases (Lease-Related Supplemen

Leases (Lease-Related Supplemental Cash Flow Information) (Details) - USD ($) $ in Thousands	6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Leases [Abstract]
Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases	$ 2,660	$ 2,621
Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for finance leases	73	74
Cash paid for amounts included in the measurement of lease liabilities: Financing cash flows for finance leases	472	284
Right-of-use assets obtained in exchange for recorded lease obligations: Operating leases	$ 966	714
Right-of-use assets obtained in exchange for recorded lease obligations: Finance leases		$ 43

Leases (Narrative) (Details)

Leases (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Leases [Abstract]
Revenue included embedded operating leases	$ 1,365	$ 1,398	$ 2,729	$ 2,786

Leases (Property, Plant and Equ

Leases (Property, Plant and Equipment Leased to Others through Embedded Leasing Arrangements) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Sep. 30, 2023
Leases [Abstract]
Property, plant, and equipment	$ 46,544	$ 45,766
Less accumulated depreciation	(29,981)	(28,128)
Property, plant, and equipment, net	$ 16,563	$ 17,638

Joint Venture (Unamortized Defe

Joint Venture (Unamortized Deferred Revenue from JV) (Details) - Woodward and General Electric Joint Venture [Member] - USD ($) $ in Thousands	Mar. 31, 2024	Sep. 30, 2023
Schedule Of Equity Method Investments [Line Items]
Accrued liabilities	$ 6,364	$ 6,147
Other liabilities	$ 235,837	$ 233,997

Joint Venture (Narrative) (Deta

Joint Venture (Narrative) (Details) - Woodward and General Electric Joint Venture [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Schedule Of Equity Method Investments [Line Items]
Cash received annually from formation of joint venture	$ 4,894	$ 4,894	$ 4,894
Sales [Member]
Schedule Of Equity Method Investments [Line Items]
Amortization of deferred income recognized as an increase to sales	1,502	1,203	2,837	$ 2,034
Reduction to sales related to royalties owed to joint venture	$ 14,992	$ 12,888	$ 29,531	$ 20,458

Joint Venture (Other Income Rel

Joint Venture (Other Income Related JV) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Schedule Of Equity Method Investments [Line Items]
Other income	$ 8,701	$ 8,468	$ 18,856	$ 13,041
Woodward and General Electric Joint Venture [Member]
Schedule Of Equity Method Investments [Line Items]
Other income	$ 8,701	$ 8,468	$ 18,856	$ 13,041

Joint Venture (Cash Distributio

Joint Venture (Cash Distribution from JV) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Woodward and General Electric Joint Venture [Member]
Schedule Of Equity Method Investments [Line Items]
Cash distributions	$ 12,000	$ 5,500	$ 18,500	$ 10,000

Joint Venture (Net Sales to the

Joint Venture (Net Sales to the JV) (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Woodward and General Electric Joint Venture [Member] | Related Party [Member]
Schedule Of Equity Method Investments [Line Items]
Net sales	[1]	$ 22,080	$ 7,320	$ 42,352	$ 13,797
[1] Net sales included a reduction of $ 14,992 for the three months and $ 29,531 for the six months ended March 31, 2024 related to royalties owed to the JV by Woodward on sales by Woodward directly to third party aftermarket customers, compared to a reduction to sales of $ 12,888 for the three months and $ 20,458 for the six months ended March 31, 2023 .

Joint Venture (Accounts Receiva

Joint Venture (Accounts Receivable, Accounts Payable, and Other Assets Related to JV) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Sep. 30, 2023
Schedule Of Equity Method Investments [Line Items]
Accounts receivable	$ 530,127	$ 485,227
Accounts payable	258,670	234,328
Woodward and General Electric Joint Venture [Member]
Schedule Of Equity Method Investments [Line Items]
Other assets	16,384	16,028
Woodward and General Electric Joint Venture [Member] | Related Party [Member]
Schedule Of Equity Method Investments [Line Items]
Accounts receivable	5,279	3,666
Accounts payable	$ 7,324	$ 6,276

Financial Instruments and Fai_3

Financial Instruments and Fair Value Measurements (Financial Assets and Liabilities that are Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Sep. 30, 2023
Financial assets:
Total financial assets	$ 234,626	$ 58,862
Financial liabilities:
Cross-currency interest rate swaps	4,968
Cross Currency Interest Rate Swaps [Member]
Financial assets:
Cross-currency interest rate swaps		5,389
Financial liabilities:
Cross-currency interest rate swaps	4,968
Level 1 [Member]
Financial assets:
Total financial assets	234,626	53,473
Level 2 [Member]
Financial assets:
Total financial assets		5,389
Financial liabilities:
Cross-currency interest rate swaps	4,968
Level 2 [Member] | Cross Currency Interest Rate Swaps [Member]
Financial assets:
Cross-currency interest rate swaps		5,389
Financial liabilities:
Cross-currency interest rate swaps	4,968
Investments in Banks and Financial Institutions [Member]
Financial assets:
Investments	204,724	28,560
Investments in Banks and Financial Institutions [Member] | Level 1 [Member]
Financial assets:
Investments	204,724	28,560
Equity Securities [Member]
Financial assets:
Equity securities	29,902	24,913
Equity Securities [Member] | Level 1 [Member]
Financial assets:
Equity securities	$ 29,902	$ 24,913

Financial Instruments and Fai_4

Financial Instruments and Fair Value Measurements (Estimated Fair Values of Financial Instruments) (Details) - Level 2 [Member] - USD ($) $ in Thousands	Mar. 31, 2024	Sep. 30, 2023
ASSETS
Investments in short-term time deposits, Estimated Fair Value	$ 88	$ 6,095
Liabilities:
Long-term debt, Estimated Fair Value	612,200	661,507
Investments in short-term time deposits, Carrying Cost	88	6,107
Long-term debt, Carrying Cost	650,754	722,671
Long Term Notes Receivable from Municipalities [Member]
ASSETS
Notes receivable, Estimated Fair Value	7,859	7,794
Liabilities:
Notes receivable, Carrying Cost	$ 7,410	$ 7,688

Financial Instruments and Fai_5

Financial Instruments and Fair Value Measurements (Narrative) (Details) - Measurement Input, Discount Rate [Member]	Mar. 31, 2024	Sep. 30, 2023
Long-Term Debt [Member] | Weighted Average [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Interest rate used to measure long-term debt	5.2	5.9
Long Term Notes Receivable from Municipalities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Interest rate used to measure municipal notes	2.6	3.6
Investments in Short-Term Time Deposits [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Interest rate used to measure short-term time deposits	5.9	6.8

Derivative Instruments and He_3

Derivative Instruments and Hedging Activities (Narrative) (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2024 USD ($)	Mar. 31, 2023 USD ($)	Mar. 31, 2024 USD ($)	Mar. 31, 2023 USD ($)	Sep. 30, 2023 USD ($)	May 31, 2020 USD ($) Swap Loan	Sep. 23, 2016 EUR (€)
Derivative Instruments Gain Loss [Line Items]
Remaining unrecognized gains (losses) associated with derivative instruments included in AOCI	$ (11,838)		$ (11,838)		$ (9,701)
2016 Note Purchase Agreements [Member]
Derivative Instruments Gain Loss [Line Items]
Issuance date			Sep. 23, 2016
Face amount | €							€ 160,000,000
Series M Notes [Member]
Derivative Instruments Gain Loss [Line Items]
Face amount | €							€ 40,000,000
Maturity date			Sep. 23, 2026
Gain (Loss) on foreign currency transaction designated as a hedge of a net investment in a foreign subsidiary	(978)	$ 807	$ 888	$ 4,432
2020 Fixed-Rate Cross-Currency Swaps [Member]
Derivative Instruments Gain Loss [Line Items]
Derivative, notional amount	$ 400,000		$ 400,000			$ 400,000
2020 Fixed-Rate Cross-Currency Swaps [Member] | Not Designated as Hedging Instrument, Economic Hedge [Member]
Derivative Instruments Gain Loss [Line Items]
Derivative, number of instruments | Swap						5
2020 Floating-Rate Cross-Currency Swap [Member]
Derivative Instruments Gain Loss [Line Items]
Derivative, notional amount						$ 45,000
Fixed-Rate Cross Currency Interest Rate Contract [Member] | Designated as Hedging Instrument | Cash Flow Hedging
Derivative Instruments Gain Loss [Line Items]
Derivative, number of instruments | Loan						5

Derivative Instruments and He_4

Derivative Instruments and Hedging Activities (Impact of Derivative Instruments on Earnings) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Derivative Instruments Gain Loss [Line Items]
Amount of (Income) Expense Recognized in Earnings on Derivative	$ 8,875	$ 7,620	$ 9,024	$ 45,806
Amount of (Gain) Loss Recognized in Accumulated OCI on Derivative	(7,349)	2,096	11,161	34,684
Amount of (Gain) Loss Reclassified from Accumulated OCI into Earnings	$ (8,875)	7,620	$ 9,024	45,806
Floating-Rate Cross Currency Interest Rate Contract [Member] | Derivatives in Fair Value Hedging Relationships [Member]
Derivative Instruments Gain Loss [Line Items]
Amount of (Income) Expense Recognized in Earnings on Derivative		$ 36		$ 937
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Selling, General and Administrative Expense	Selling, General and Administrative Expense	Selling, General and Administrative Expense	Selling, General and Administrative Expense
Amount of (Gain) Loss Recognized in Accumulated OCI on Derivative		$ 21		$ 917
Derivative Instrument, Gain (Loss) Reclassified from AOCI into Income, Effective Portion, Statement of Income or Comprehensive Income [Extensible Enumeration]	Selling, General and Administrative Expense	Selling, General and Administrative Expense	Selling, General and Administrative Expense	Selling, General and Administrative Expense
Amount of (Gain) Loss Reclassified from Accumulated OCI into Earnings		$ 36		$ 937
Fixed-Rate Cross Currency Interest Rate Contract [Member] | Cash Flow Hedging
Derivative Instruments Gain Loss [Line Items]
Amount of (Income) Expense Recognized in Earnings on Derivative	$ 8,875	$ 7,584	$ 9,024	$ 44,869
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Selling, General and Administrative Expense	Selling, General and Administrative Expense	Selling, General and Administrative Expense	Selling, General and Administrative Expense
Amount of (Gain) Loss Recognized in Accumulated OCI on Derivative	$ (7,349)	$ 2,075	$ 11,161	$ 33,767
Derivative Instrument, Gain (Loss) Reclassified from AOCI into Income, Effective Portion, Statement of Income or Comprehensive Income [Extensible Enumeration]	Selling, General and Administrative Expense	Selling, General and Administrative Expense	Selling, General and Administrative Expense	Selling, General and Administrative Expense
Amount of (Gain) Loss Reclassified from Accumulated OCI into Earnings	$ (8,875)	$ 7,584	$ 9,024	$ 44,869

Supplemental Statement of Cas_3

Supplemental Statement of Cash Flows Information (Schedule of Supplemental Statement of Cash Flows Information) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Supplemental Cash Flow Information [Abstract]
Interest paid, net of amounts capitalized			$ 18,068	$ 17,689
Income taxes paid			59,677	44,589
Income tax refunds received			3,662	1,392
Non-cash activities:
Purchases of property, plant and equipment on account			2,127	3,743
Common shares issued from treasury to settle benefit obligations	$ 21,887	$ 19,307	$ 21,887	$ 19,467

Acquisitions (Narrative) (Detai

Acquisitions (Narrative) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Sep. 30, 2023
Business Acquisition [Line Items]
Goodwill	$ 796,706	$ 791,468
Future amortization expense associated with the acquired intangibles for fiscal year ended September 30, 2023	16,305
Future amortization expense associated with the acquired intangibles for fiscal year ended September 30, 2024	28,293
Future amortization expense associated with the acquired intangibles for fiscal year ended September 30, 2025	28,283
Future amortization expense associated with the acquired intangibles for fiscal year ended September 30, 2026	28,232
Future amortization expense associated with the acquired intangibles for fiscal year ended September 30, 2027	$ 27,636

Acquisitions (Schedule of Purch

Acquisitions (Schedule of Purchase Price Consideration) (Details) $ in Thousands	6 Months Ended
	Mar. 31, 2023 USD ($)
Business Acquisition [Line Items]
Total purchase price	$ (878)

Acquisitions (Schedule of Asset

Acquisitions (Schedule of Assets Acquired and Liabilities Assumed) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Sep. 30, 2023
Business Acquisition [Line Items]
Goodwill	$ 796,706	$ 791,468

Inventories (Schedule of Invent

Inventories (Schedule of Inventories) (Details) - USD ($) $ in Thousands		Mar. 31, 2024	Sep. 30, 2023
Inventory, Net [Abstract]
Raw materials		$ 159,355	$ 133,699
Work in progress		140,322	127,438
Component parts	[1]	352,269	327,522
Finished goods		88,978	74,594
Customer supplied inventory		17,941	14,543
On-hand inventory for which control has transferred to the customer		(178,488)	(159,953)
Inventory, net		$ 580,377	$ 517,843
[1] Component parts include items that can be sold separately as finished goods or included in the manufacture of other products.

Property, Plant, and Equipmen_2

Property, Plant, and Equipment (Schedule of Property Plant and Equipment, Net) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Sep. 30, 2023
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	$ 1,773,646	$ 1,745,203
Less accumulated depreciation	(852,291)	(832,109)
Property, plant, and equipment, net	921,355	913,094
Land and Land Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	89,899	89,352
Building and Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	591,225	589,735
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	21,445	21,079
Machinery and Production Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	808,980	807,244
Computer Equipment and Software [Member]
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	117,694	120,290
Office Furniture and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	41,303	41,943
Other [Member]
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	38,253	20,073
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	$ 64,847	$ 55,487

Property, Plant, and Equipmen_3

Property, Plant, and Equipment (Schedule of Depreciation Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Property, Plant and Equipment, Net [Abstract]
Depreciation expense	$ 20,607	$ 20,535	$ 40,833	$ 40,661

Goodwill (Schedule of Goodwill)

Goodwill (Schedule of Goodwill) (Details) $ in Thousands	6 Months Ended
	Mar. 31, 2024 USD ($)
Goodwill [Line Items]
Goodwill, Beginning Balance	$ 791,468
Effects of Foreign Currency Translation	5,238
Goodwill, Ending Balance	796,706
Aerospace [Member]
Goodwill [Line Items]
Goodwill, Beginning Balance	455,423
Goodwill, Ending Balance	455,423
Industrial [Member]
Goodwill [Line Items]
Goodwill, Beginning Balance	336,045
Effects of Foreign Currency Translation	5,238
Goodwill, Ending Balance	$ 341,283

Intangible Assets, Net (Schedul

Intangible Assets, Net (Schedule of Finite-Lived and Indefinite-Lived Intangible Assets by Major Class) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Sep. 30, 2023
Finite-Lived Intangible Assets [Line Items]
Accumulated Amortization of Finite-Lived Intangible	$ 420,278	$ (401,150)
Net Carrying Amount - Finite-Lived Intangible	380,819
Intangible Assets, Gross, Total	863,692	853,513
Intangible Assets, Net, Total	443,414	452,363
Customer Relationships And Contracts [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value - Finite-Lived Intangible	667,950	660,487
Accumulated Amortization of Finite-Lived Intangible	(342,876)	(326,227)
Net Carrying Amount - Finite-Lived Intangible	325,074	334,260
Intellectual Property [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value - Finite-Lived Intangible	3,139	3,139
Accumulated Amortization of Finite-Lived Intangible	(3,139)	3,139
Process Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value - Finite-Lived Intangible	129,447	128,026
Accumulated Amortization of Finite-Lived Intangible	(73,702)	(71,260)
Net Carrying Amount - Finite-Lived Intangible	55,745	56,766
Other [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value - Finite-Lived Intangible	561	554
Accumulated Amortization of Finite-Lived Intangible	(561)	(524)
Net Carrying Amount - Finite-Lived Intangible		30
Trade Name [Member]
Finite-Lived Intangible Assets [Line Items]
Indefinite-Lived Intangible Assets	62,595	61,307
Intangible Assets, Net, Total	62,595
Aerospace [Member]
Finite-Lived Intangible Assets [Line Items]
Accumulated Amortization of Finite-Lived Intangible	(281,539)	(275,694)
Intangible Assets, Gross, Total	326,253	326,253
Intangible Assets, Net, Total	44,714	50,559
Aerospace [Member] | Customer Relationships And Contracts [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value - Finite-Lived Intangible	281,683	281,683
Accumulated Amortization of Finite-Lived Intangible	(241,513)	236,143
Net Carrying Amount - Finite-Lived Intangible	40,170	45,540
Aerospace [Member] | Process Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value - Finite-Lived Intangible	44,570	44,570
Accumulated Amortization of Finite-Lived Intangible	(40,026)	(39,551)
Net Carrying Amount - Finite-Lived Intangible	4,544	5,019
Industrial [Member]
Finite-Lived Intangible Assets [Line Items]
Accumulated Amortization of Finite-Lived Intangible	(138,739)	125,456
Intangible Assets, Gross, Total	537,439	527,260
Intangible Assets, Net, Total	398,700	401,804
Industrial [Member] | Customer Relationships And Contracts [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value - Finite-Lived Intangible	386,267	378,804
Accumulated Amortization of Finite-Lived Intangible	(101,363)	90,084
Net Carrying Amount - Finite-Lived Intangible	284,904	288,720
Industrial [Member] | Intellectual Property [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value - Finite-Lived Intangible	3,139	3,139
Accumulated Amortization of Finite-Lived Intangible	(3,139)	(3,139)
Industrial [Member] | Process Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value - Finite-Lived Intangible	84,877	83,456
Accumulated Amortization of Finite-Lived Intangible	(33,676)	(31,709)
Net Carrying Amount - Finite-Lived Intangible	51,201	51,747
Industrial [Member] | Other [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value - Finite-Lived Intangible	561	554
Accumulated Amortization of Finite-Lived Intangible	(561)	(524)
Net Carrying Amount - Finite-Lived Intangible		30
Industrial [Member] | Trade Name [Member]
Finite-Lived Intangible Assets [Line Items]
Indefinite-Lived Intangible Assets	62,595	$ 61,307
Intangible Assets, Net, Total	$ 62,595

Intangible Assets, Net (Narrati

Intangible Assets, Net (Narrative) (Details) $ in Thousands	3 Months Ended
	Sep. 30, 2023 USD ($)
Disposal Group [Member]
Intangible Assets, Net [Line Items]
Impairment of intangible assets, Indefinite-lived	$ 0

Intangible Assets, Net (Sched_2

Intangible Assets, Net (Schedule of Finite-Lived Intangible Assets Amortization Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Amortization expense	$ 8,618	$ 9,418	$ 17,217	$ 18,596

Intangible Assets, Net (Sched_3

Intangible Assets, Net (Schedule of Finite-Lived Intangible Assets, Future Amortization Expense) (Details) $ in Thousands	Mar. 31, 2024 USD ($)
Intangible Assets, Net (Excluding Goodwill) [Abstract]
2024 (remaining)	$ 16,305
2025	28,293
2026	28,283
2027	28,232
2028	27,636
Thereafter	252,070
Net Carrying Amount - Finite-Lived Intangible	$ 380,819

Credit Facilities, Short-term_2

Credit Facilities, Short-term Borrowings and Long-term Debt (Narrative) (Details) - USD ($) $ in Thousands		6 Months Ended
	Nov. 15, 2023	Mar. 31, 2024
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity		$ 1,000,000
Line of credit facility, maximum borrowing capacity extension		1,500,000
Principal amount borrowing outstanding		$ 141,300
Effective interest rate		0.0646
Minimum [Member] | SOFR [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Basis spread on variable rate		0.875%
Maximum [Member] | SOFR [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Basis spread on variable rate		1.75%
Series H and K Notes [Member]
Debt Instrument [Line Items]
Payment of principal balance	$ 75,000

Accrued Liabilities (Accrued Li

Accrued Liabilities (Accrued Liabilities) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022
Accrued Liabilities, Current [Abstract]
Salaries and other member benefits	$ 98,019		$ 146,713
Product warranties and related liabilities	19,800	$ 21,802	18,162	$ 46,492	$ 49,526	$ 40,042
Interest payable	12,199		13,611
Accrued retirement benefits	2,844		2,822
Net current contract liabilities	48,821		33,748
Taxes, other than income	18,981		13,436
Other	36,280		34,124
Accrued liabilities	$ 236,944		$ 262,616

Accrued Liabilities (Changes in

Accrued Liabilities (Changes in Accrued Product Warranties and Related Liabilities) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Accrued Liabilities, Current [Abstract]
Beginning of period	$ 21,802	$ 49,526	$ 18,162	$ 40,042
Additions, net of recoveries	4,653	3,413	9,959	20,423
Reductions for settlement	(6,579)	(6,501)	(8,406)	(14,203)
Foreign currency exchange rate changes	(76)	54	85	230
End of period	$ 19,800	$ 46,492	$ 19,800	$ 46,492

Accrued Liabilities (Narrative)

Accrued Liabilities (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2023	Sep. 30, 2022
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 5,172	$ 5,172
Hydraulics Systems and Engine Systems [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	5,172		$ 1,083
Paid for restructuring charges	$ 2,836

Other Liabilities (Schedule of

Other Liabilities (Schedule of Other Liabilities) (Details) - USD ($) $ in Thousands		Mar. 31, 2024	Sep. 30, 2023
Other Liabilities, Noncurrent [Abstract]
Net accrued retirement benefits, less amounts recognized within accrued liabilities		$ 78,464	$ 72,570
Total unrecognized tax benefits		9,351	8,020
Noncurrent income taxes payable		5,894	10,714
Deferred economic incentives	[1]	5,151	5,797
Noncurrent operating lease liabilities		19,202	20,685
Net noncurrent contract liabilities		426,810	414,657
Cross-currency swap derivative liability		4,968
Other		11,090	11,047
Other liabilities		$ 560,930	$ 543,490
[1] 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.

Other (Income) Expense, Net (Sc

Other (Income) Expense, Net (Schedule of Other (Income) Expense, Net) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Equity interest in the earnings of the JV	$ (8,701)	$ (8,468)	$ (18,856)	$ (13,041)
Net (gain) loss on sales of assets and businesses	(863)	857	(872)	890
Gain on non-recurring matter related to a previous acquisition			(4,803)
Rent income	(88)	(93)	(170)	(181)
Other components of net periodic pension and other postretirement benefit, excluding service cost and interest expense	(2,947)	(2,675)	(5,866)	(5,160)
Other		18	(62)	(68)
Other (income) expense, net	(14,384)	(12,040)	(35,023)	(20,430)
Gain on Investments in Deferred Compensation Program [Member]
Net gain on investments in deferred compensation program	$ (1,785)	$ (1,679)	$ (4,394)	$ (2,870)

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, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Earnings before income taxes	$ 120,624	$ 40,241	$ 230,344	$ 71,990
Income tax expense	$ 23,068	$ 4,730	$ 42,744	$ 6,873
Effective tax rate	19.10%	11.80%	18.60%	9.50%

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023	Sep. 30, 2023
Income Taxes [Line Items]
Statutory rates	19.10%	11.80%	18.60%	9.50%
Gross unrecognized tax benefits	$ 12,715		$ 12,715		$ 11,112
Unrecognized tax benefits that, if recognized, would affect the effective tax rate	8,110		8,110
Possible decrease in unrecognized tax benefits liability	$ 2,178		$ 2,178
Minimum [Member]
Income Taxes [Line Items]
Statutory rates	19%	19%
Maximum [Member]
Income Taxes [Line Items]
Statutory rates	35%	35%
Domestic Tax Authority [Member]
Income Taxes [Line Items]
Year remaining open to tax examination			2020
State and Local Jurisdiction [Member]
Income Taxes [Line Items]
Year remaining open to tax examination			2019
Foreign Jurisdiction [Member]
Income Taxes [Line Items]
Year remaining open to tax examination			2018

Retirement Benefits (Narrative)

Retirement Benefits (Narrative) (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Defined Benefit Plan Disclosure [Line Items]
Percentage of annual contribution equal to eligible prior year wages			5%
Common shares issued from treasury to settle benefit obligations	$ 21,887	$ 19,307	$ 21,887	$ 19,467
Treasury Stock [Member]
Defined Benefit Plan Disclosure [Line Items]
Common shares issued from treasury stock for benefit plans, shares	159	187	159	189
Common shares issued from treasury to settle benefit obligations	$ 7,921	$ 8,447	$ 7,921	$ 8,524

Retirement Benefits (Schedule o

Retirement Benefits (Schedule of Amount of Expense Associated with Defined Contribution Plans) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Retirement Benefits [Abstract]
Company costs	$ 12,902	$ 11,838	$ 24,077	$ 21,940

Retirement Benefits (Schedule_2

Retirement Benefits (Schedule of Net Periodic Benefit Costs) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 506	$ 556	$ 1,009	$ 1,099
Interest cost	2,703	2,603	5,395	5,177
Expected return on plan assets	(2,873)	(2,648)	(5,736)	(5,273)
Amortization of: Net actuarial loss (gain)	(115)	(80)	(226)	(155)
Amortization of: Prior service cost	180	181	360	360
Net periodic retirement pension cost	401	612	802	1,208
Contributions paid	746	736	1,339	1,298
Other Postretirement Benefit Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Interest cost	225	226	451	452
Amortization of: Net actuarial loss (gain)	139	(124)	278	248
Net periodic retirement pension cost	86	102	173	204
Contributions paid - other postretirement plans	413	444	825	885
United States [Member] | Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	194	224	388	447
Interest cost	1,900	1,825	3,799	3,649
Expected return on plan assets	(2,271)	(2,075)	(4,542)	(4,149)
Amortization of: Net actuarial loss (gain)	56	73	113	146
Amortization of: Prior service cost	175	175	349	349
Net periodic retirement pension cost	54	222	107	442
Other Countries [Member] | Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	312	332	621	652
Interest cost	803	778	1,596	1,528
Expected return on plan assets	(602)	(573)	(1,194)	(1,124)
Amortization of: Net actuarial loss (gain)	(171)	(153)	(339)	(301)
Amortization of: Prior service cost	5	6	11	11
Net periodic retirement pension cost	347	390	695	766
Contributions paid	$ 746	$ 736	$ 1,339	$ 1,298

Retirement Benefits (Schedule_3

Retirement Benefits (Schedule of Estimated Remaining Cash Contributions) (Details) - Other Postretirement Benefit Plans [Member] $ in Thousands	Mar. 31, 2024 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Estimated future employer contributions in the current fiscal year	$ 1,851
United Kingdom [Member]
Defined Benefit Plan Disclosure [Line Items]
Estimated future employer contributions in the current fiscal year	558
Japan
Defined Benefit Plan Disclosure [Line Items]
Estimated future employer contributions in the current fiscal year	$ 493

Stockholders' Equity (Summary o

Stockholders' Equity (Summary of Activity in Common Stock and Treasury Stock Share) (Details) - shares	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Balance, Common Stock, shares			72,960,000
Balance, Treasury Stock, shares			(13,070,000)
Balance, Treasury stock held for deferred compensation, shares			(55,000)
Balance, Common Stock, shares	72,960,000		72,960,000
Balance, Treasury Stock, shares	(12,185,000)		(12,185,000)
Balance, Treasury stock held for deferred compensation, shares	(53,000)		(53,000)
Common Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Balance, Common Stock, shares	72,960,000	72,960,000	72,960,000	72,960,000
Balance, Common Stock, shares	72,960,000	72,960,000	72,960,000	72,960,000
Treasury Stock at Cost [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Balance, Common Stock, shares	(12,823,000)
Balance, Treasury Stock, shares		(13,460,000)	(13,070,000)	(13,207,000)
Sales of treasury stock, shares	479,000	251,000	726,000	270,000
Purchase of treasury stock, shares				(274,000)
Common shares issued for benefit plans, shares	159,000	187,000	159,000	189,000
Balance, Common Stock, shares	(12,185,000)		(12,185,000)
Balance, Treasury Stock, shares	(12,185,000)	(13,022,000)	(12,185,000)	(13,022,000)
Treasury Stock Held for Deferred Compensaton [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Balance, Common Stock, shares	(54,000)
Balance, Treasury stock held for deferred compensation, shares		(122,000)	(55,000)	(139,000)
Purchases of stock by deferred compensation, shares			(1,000)	(1,000)
Distribution of stock from deferred compensation, shares	1,000	55,000	3,000	73,000
Balance, Common Stock, shares	(53,000)		(53,000)
Balance, Treasury stock held for deferred compensation, shares	(53,000)	(67,000)	(53,000)	(67,000)

Stockholders' Equity (Narrative

Stockholders' Equity (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands				1 Months Ended	3 Months Ended	6 Months Ended
	Jan. 31, 2024	Jan. 25, 2023	Jan. 31, 2022	Nov. 30, 2023	Mar. 31, 2024	Mar. 31, 2024	Sep. 30, 2023	Mar. 31, 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of additional shares available for future grants		500,000
Total unrecognized compensation cost related to non-vested stock-based compensation arrangements					$ 39,926	$ 39,926
Forfeiture rate, Board of Directors					0%	0%
Forfeiture rate, non-Board of Directors					7.30%	7.30%
Unrecognized compensation cost is expected to be recognized over a weighted-average period						1 year 7 months 6 days
Executive Separation and Release Agreement [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense, before tax					$ 1,682
Stock Options [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vested contractual term, in years						10 years
Vesting period, in years						4 years
Weighted-average exercise price					$ 137.76	$ 137.36
Stock Options [Member] | RSU Agreement prior to November 14, 2023 [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting rate						25%
Restricted Stock Units (RSUs) [Member] | RSU Agreement prior to November 14, 2023 [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period, in years						4 years
Vesting rate						25%
Restricted Stock Units (RSUs) [Member] | RSUs Granted after November 14, 2023 [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period, in years						3 years
Vesting rate						33.30%
Performance Restricted Stock Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award performance period (in years)				3 years
Performance based criteria plan payout percentage, target				100%
Discount for dividends						0%
Performance Restricted Stock Units [Member] | Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Performance based criteria plan payout percentage				150%
Performance Restricted Stock Units [Member] | Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Performance based criteria plan payout percentage				0%
2022 Authorization [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock repurchase program authorized amount			$ 800,000					$ 26,369
Repurchase period in years			2 years
Stock repurchase program, number of shares authorized to be repurchased								274,000
2017 Authorization [Member] | 2017 Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares available for future grants					2,209,000	2,209,000	2,689,000
2024 Authorization [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock repurchase program authorized amount	$ 600,000
Repurchase period in years	3 years
Stock repurchase program, number of shares authorized to be repurchased					0	0

Stockholders' Equity (Summary_2

Stockholders' Equity (Summary of Activity for Stock Option Awards) (Details) - Stock Options [Member] - $ / shares shares in Thousands	3 Months Ended	6 Months Ended
	Mar. 31, 2024	Mar. 31, 2024
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of options, Beginning balance	4,611	4,842
Granted, Number of options	81	87
Exercised, Number of options	(475)	(710)
Forfeited, Number of options	(4)	(6)
Number of options, Ending balance	4,213	4,213
Weighted Average Exercise Price Per Share, Beginning balance	$ 80.99	$ 80.48
Granted, Weighted Average Exercise Price Per Share	137.76	137.36
Exercised, Weighted Average Exercise Price Per Share	67.93	69.19
Forfeited, Weighted Average Exercise Price Per Share	91.51	91.84
Weighted Average Exercise Price Per Share, Ending balance	$ 83.54	$ 83.54

Stockholders' Equity (Changes i

Stockholders' Equity (Changes in Non-vested Stock Options) (Details) - Stock Options [Member] - $ / shares shares in Thousands	3 Months Ended	6 Months Ended
	Mar. 31, 2024	Mar. 31, 2024
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Options, Beginning balance	858	1,393
Granted, Number of options	81	87
Vested, Number of options	(9)	(549)
Forfeited, Number of options	(4)	(5)
Number of Options, Ending balance	926	926
Weighted-Average Grant Date Fair Value Per Share, Beginning balance	$ 35.37	$ 33.96
Granted, Weighted-Average Grant Date Fair Value Per Share	58.15	58.34
Vested, Weighted Average Exercise Price Per Share	31.78	32.01
Forfeited, Weighted-Average Grant Date Fair Value Per Share	35.54	35.24
Weighted-Average Grant Date Fair Value Per Share, Ending balance	$ 37.4	$ 37.4

Stockholders' Equity (Stock Opt

Stockholders' Equity (Stock Options Vested, or Expected to Vest and Exercisable) (Details) - Stock Options [Member] - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	6 Months Ended
	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options outstanding, Number of options	4,213	4,611	4,842
Options vested and exercisable, Number of options	3,287
Options vested and expected to vest, Number of options	4,177
Options outstanding, Weighted-Average Exercise Price	$ 83.54	$ 80.99	$ 80.48
Options vested and exercisable, Weighted-Average Exercise Price Per Share	79.53
Options vested and expected to vest, Weighted-Average Exercise Price Per Share	$ 83.37
Options outstanding, Weighted-Average Remaining Life in Years	5 years 6 months
Options vested and exercisable, Weighted-Average Remaining Life in Years	4 years 9 months 18 days
Options vested and expected to vest, Weighted-Average Remaining Life in Years	5 years 6 months
Options outstanding, Aggregate Intrinsic Value	$ 297,376
Options vested and exercisable, Aggregate Intrinsic Value	245,191
Options vested and expected to vest, Aggregate Intrinsic Value	$ 295,556

Stockholders' Equity (Summary_3

Stockholders' Equity (Summary of Activity for RSUs) (Details) - Restricted Stock Units (RSUs) [Member] - $ / shares shares in Thousands	3 Months Ended	6 Months Ended
	Mar. 31, 2024	Mar. 31, 2024
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of units, Beginning balance	170	177
Granted, Number of units	155	167
Released, Number of units	(5)	(24)
Forfeited, Number of units	(1)	(1)
Number of units, Ending balance	319	319
Weighted-Average Grant Date Fair Value, Beginning balance	$ 96.95	$ 93.46
Granted, Weighted-Average Grant Date Fair Value	137.76	137.33
Released, Weighted-Average Grant Date Fair Value	89.03	86.59
Forfeited, Weighted-Average Grant Date Fair Value	111.78	108.48
Weighted-Average Grant Date Fair Value, Ending balance	$ 116.9	$ 116.9

Stockholders' Equity (Schedule

Stockholders' Equity (Schedule of Assumptions to Value PSUs Granted) (Details) - Performance Restricted Stock Units [Member]	6 Months Ended
	Mar. 31, 2024 $ / shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected volatility	30.20%
Risk free interest rate	4.50%
Expected life	3 years
Grant date fair value	$ 146.47

Stockholders' Equity (Summary_4

Stockholders' Equity (Summary of Activity for PSUs) (Details) - Performance Restricted Stock Units [Member] - $ / shares shares in Thousands	3 Months Ended	6 Months Ended
	Mar. 31, 2024	Mar. 31, 2024
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of units, Beginning balance	66
Granted, Number of units		66
Number of units, Ending balance	66	66
Weighted-Average Grant Date Fair Value, Beginning balance	$ 146.47
Granted, Weighted-Average Grant Date Fair Value		$ 146.47
Weighted-Average Grant Date Fair Value, Ending balance	$ 146.47	$ 146.47

Segment Information (Narrative)

Segment Information (Narrative) (Details)	6 Months Ended
	Mar. 31, 2024 Segment
Segment Reporting [Abstract]
Number of Reportable Segments	2

Segment Information (Summary of

Segment Information (Summary of Consolidated Net Sales and Earnings by Segment) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Segment Reporting Information [Line Items]
Total net sales	$ 835,343	$ 718,214	$ 1,622,073	$ 1,336,833
Interest expense, net	(10,237)	(12,337)	(20,200)	(23,113)
Consolidated earnings before income taxes	120,624	40,241	230,344	71,990
Aerospace [Member]
Segment Reporting Information [Line Items]
Total net sales	497,512	437,017	958,268	832,702
Industrial [Member]
Segment Reporting Information [Line Items]
Total net sales	337,831	281,197	663,805	504,131
Operating Segments [Member] | Aerospace [Member]
Segment Reporting Information [Line Items]
Total net sales	497,512	437,017	958,268	832,702
Segment earnings (loss)	98,451	73,314	177,453	128,748
Operating Segments [Member] | Industrial [Member]
Segment Reporting Information [Line Items]
Total net sales	337,831	37,571	663,805	504,131
Segment earnings (loss)	65,244	281,197	132,125	48,973
Unallocated Corporate [Member]
Segment Reporting Information [Line Items]
Segment earnings (loss)	$ (32,834)	$ (58,307)	$ (59,034)	$ (82,618)

Segment Information (Summary _2

Segment Information (Summary of Consolidated Total Assets by Segment) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Sep. 30, 2023
Segment Reporting Information [Line Items]
Consolidated total assets	$ 4,366,259	$ 4,010,203
Property, plant and equipment, net	921,355	913,094
Unallocated Corporate [Member]
Segment Reporting Information [Line Items]
Property, plant and equipment, net	120,202	104,962
Other assets	792,544	585,490
Aerospace [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Consolidated total assets	1,890,089	1,829,410
Industrial [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Consolidated total assets	$ 1,563,424	$ 1,490,341

Subsequent Events (Narrative) (

Subsequent Events (Narrative) (Details) - Subsequent Event [Member]	Apr. 23, 2024 $ / shares
Subsequent Event [Line Items]
Dividend per share	$ 0.25
Dividend, payable date	Jun. 05, 2024
Dividend, record date	May 22, 2024