Esterline Technologies 10-Q 5 May 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Mar. 31, 2017	May 02, 2017
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Trading Symbol	ESL
Entity Registrant Name	ESTERLINE TECHNOLOGIES CORP
Entity Central Index Key	33,619
Current Fiscal Year End Date	--09-29
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		29,773,809

CONSOLIDATED BALANCE SHEET (Una

CONSOLIDATED BALANCE SHEET (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2017	Sep. 30, 2016
Current Assets
Cash and cash equivalents	$ 253,475	$ 258,520
Cash in escrow	0	1,125
Accounts receivable, net of allowances of $18,073 and $17,028	398,793	422,073
Inventories
Raw materials and purchased parts	183,441	177,069
Work in progress	176,757	171,515
Finished goods	105,390	101,622
Inventories	465,588	450,206
Income tax refundable	6,046	5,183
Prepaid expenses	21,470	17,909
Other current assets	5,433	5,322
Current assets of businesses held for sale	3,659	15,450
Total Current Assets	1,154,464	1,175,788
Property, Plant and Equipment	812,392	795,790
Accumulated depreciation	478,647	457,756
Total Property, Plant and Equipment	333,745	338,034
Other Non-Current Assets
Goodwill	1,000,806	1,024,667
Intangibles, net	359,179	393,035
Deferred income tax benefits	73,961	75,409
Other assets	14,177	13,698
Non-current assets of businesses held for sale	10,144	11,400
Total Assets	2,946,476	3,032,031
Current Liabilities
Accounts payable	123,608	121,816
Accrued liabilities	232,976	238,163
Current maturities of long-term debt	14,168	16,774
Federal and foreign income taxes	4,700	10,932
Current liabilities of businesses held for sale	1,069	10,813
Total Current Liabilities	376,521	398,498
Long-Term Liabilities
Credit facilities	90,000	155,000
Long-term debt, net of current maturities	674,205	698,796
Deferred income tax liabilities	42,039	53,798
Pension and post-retirement obligations	90,962	92,520
Other liabilities	20,178	21,968
Non-current liabilities of businesses held for sale	1,685	320
Shareholders' Equity
Common stock, par value $.20 per share, authorized 60,000,000 shares, issued 32,909,736 and 32,564,252 shares	6,582	6,513
Additional paid-in capital	724,702	702,610
Treasury stock at cost, repurchased 3,135,927 and 3,135,927 shares	(308,514)	(308,514)
Retained earnings	1,600,962	1,548,805
Accumulated other comprehensive loss	(383,565)	(348,857)
Total Esterline Shareholders' Equity	1,640,167	1,600,557
Noncontrolling interests	10,719	10,574
Total Shareholders' Equity	1,650,886	1,611,131
Total Liabilities and Shareholders' Equity	$ 2,946,476	$ 3,032,031

CONSOLIDATED BALANCE SHEET (Par

CONSOLIDATED BALANCE SHEET (Parenthetical) (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2017	Sep. 30, 2016
Statement Of Financial Position [Abstract]
Accounts receivable, allowances	$ 18,073	$ 17,028
Common stock, par value	$ 0.20	$ 0.20
Common stock, shares authorized	60,000,000	60,000,000
Common stock, shares issued	32,909,736	32,564,252
Treasury stock, shares repurchased	3,135,927	3,135,927

CONSOLIDATED STATEMENT OF OPERA

CONSOLIDATED STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Apr. 01, 2016	Mar. 31, 2017	Apr. 01, 2016
Income Statement [Abstract]
Net Sales	$ 509,182	$ 490,310	$ 966,915	$ 931,787
Cost of Sales	333,263	334,137	646,949	637,895
Gross Profit	175,919	156,173	319,966	293,892
Expenses
Selling, general & administrative	97,083	102,423	192,716	196,514
Research, development and engineering	26,808	24,974	47,846	50,549
Restructuring charges	0	940	0	1,871
Insurance recovery	(5,189)	0	(7,789)	0
Total Expenses	118,702	128,337	232,773	248,934
Operating Earnings from Continuing Operations	57,217	27,836	87,193	44,958
Interest Income	(100)	(94)	(196)	(181)
Interest Expense	7,458	7,294	15,346	14,510
Earnings from Continuing Operations Before Income Taxes	49,859	20,636	72,043	30,629
Income Tax Expense (Benefit)	14,160	3,416	14,580	3,383
Earnings from Continuing Operations Including Noncontrolling Interests	35,699	17,220	57,463	27,246
Earnings Attributable to Noncontrolling Interests	(552)	(224)	(791)	(386)
Earnings from Continuing Operations Attributable to Esterline, Net of Tax	35,147	16,996	56,672	26,860
Loss from Discontinued Operations Attributable to Esterline, Net of Tax	(34)	(2,023)	(5,370)	(6,803)
Net Earnings Attributable to Esterline	$ 35,113	$ 14,973	$ 51,302	$ 20,057
Earnings (Loss) Per Share Attributable to Esterline - Basic:
Continuing operations	$ 1.18	$ 0.58	$ 1.91	$ 0.91
Discontinued operations	0	(0.07)	(0.18)	(0.23)
Earnings (Loss) Per Share - Basic	1.18	0.51	1.73	0.68
Earnings (Loss) Per Share Attributable to Esterline - Diluted:
Continuing operations	1.17	0.57	1.90	0.90
Discontinued operations	0	(0.07)	(0.18)	(0.23)
Earnings (Loss) Per Share - Diluted	$ 1.17	$ 0.50	$ 1.72	$ 0.67
Net Earnings	$ 35,113	$ 14,973	$ 51,302	$ 20,057
Change in Fair Value of Derivative Financial Instruments	5,604	20,274	(695)	16,101
Income Tax Expense (Benefit)	1,428	5,779	(481)	4,494
Change in Fair Value of Derivative Financial Instruments, Net of Tax	4,176	14,495	(214)	11,607
Change in Pension and Post-Retirement Obligations	1,063	(87)	3,596	2,188
Income Tax Expense (Benefit)	260	83	1,252	840
Change in Pension and Post-Retirement Obligations, Net of Tax	803	(170)	2,344	1,348
Foreign Currency Translation Adjustment	16,189	31,246	(36,838)	(8,215)
Comprehensive Income (Loss)	$ 56,281	$ 60,544	$ 16,594	$ 24,797

CONSOLIDATED STATEMENT OF CASH

CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Mar. 31, 2017	Apr. 01, 2016
Cash Flows Provided (Used) by Operating Activities
Net earnings including noncontrolling interests	$ 52,093	$ 20,443
Adjustments to reconcile net earnings including noncontrolling interests to net cash provided (used) by operating activities:
Depreciation and amortization	51,169	48,736
Deferred income taxes	(8,311)	(10,094)
Share-based compensation	7,352	7,578
Excess tax benefits from share-based compensation	0	(496)
Gain on sale of discontinued operations	(1,188)	0
Loss on assets held for sale	4,409	3,572
Working capital changes:
Accounts receivable	17,129	7,700
Inventories	(24,572)	(7,275)
Prepaid expenses	(3,807)	1,120
Other current assets	(271)	624
Accounts payable	2,861	1,439
Accrued liabilities	(6,927)	917
Federal and foreign income taxes	(6,361)	(690)
Other liabilities	996	(1,345)
Other, net	6,773	7,159
Net Cash Provided (Used) by Operating Activities	91,345	79,388
Cash Flows Provided (Used) by Investing Activities
Purchase of capital assets	(29,077)	(42,506)
Escrow deposit	0	(1,125)
Proceeds from sale of discontinued operations	600	0
Net Cash Provided (Used) by Investing Activities	(28,477)	(43,631)
Cash Flows Provided (Used) by Financing Activities
Proceeds provided by stock issuance under employee stock plans	16,795	3,985
Withholding taxes on restricted stock units vested	(1,072)	0
Excess tax benefits from share-based compensation	0	496
Shares repurchased	0	(12,076)
Repayment of long-term credit facilities	(70,000)	(10,000)
Repayment of long-term debt	(9,433)	(6,158)
Proceeds from issuance of long-term credit facilities	5,000	15,000
Net Cash Provided (Used) by Financing Activities	(58,710)	(8,753)
Effect of Foreign Exchange Rates on Cash and Cash Equivalents	(9,203)	912
Net Increase (Decrease) in Cash and Cash Equivalents	(5,045)	27,916
Cash and Cash Equivalents - Beginning of Year	258,520	191,355
Cash and Cash Equivalents - End of Period	253,475	219,271
Supplemental Cash Flow Information:
Cash paid for interest	14,384	13,314
Cash paid for taxes	$ 25,323	$ 6,654

Basis of Presentation

Basis of Presentation	6 Months Ended
	Mar. 31, 2017
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Basis of Presentation	Note 1 – Basis of Presentation The consolidated balance sheet as of March 31, 2017, the consolidated statement of operations and comprehensive income (loss) for the three and six month periods ended March 31, 2017, and April 1, 2016, and the consolidated statement of cash flows for the six month periods ended March 31, 2017, and April 1, 2016, are unaudited but, in the opinion of management, all of the necessary adjustments, consisting of normal recurring accruals, have been made to present fairly the financial statements referred to above in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, the above statements do not include all of the footnotes required for complete financial statements. The results of operations and cash flows for the interim periods presented are not necessarily indicative of results that can be expected for the full year. The notes to the consolidated financial statements in the Company’s Annual Report on Form 10-K for the fiscal year ended September 30, 2016, provide a summary of significant accounting policies and additional financial information that should be read in conjunction with this Form 10-Q. The timing of the Company’s revenues is impacted by the purchasing patterns of customers and, as a result, revenues are not generated evenly throughout the year. Moreover, the Company’s first fiscal quarter, October through December, includes significant holiday periods in both Europe and North America, resulting in fewer business days.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	6 Months Ended
	Mar. 31, 2017
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Recent Accounting Pronouncements	Note 2 – Recent Accounting Pronouncements In March 2017, the Financial Accounting Standards Board (FASB) issued new guidance on the presentation of the net periodic cost of postretirement benefit programs. The new standard requires sponsors of defined benefit postretirement plans to present the non-service cost components of net periodic benefit cost separate from the service cost component on the income statement. The new standard also requires that the non-service cost components of net periodic benefit cost no longer be capitalized within assets. The Company is evaluating the effects the standard will have on the Company's consolidated financial statements and related disclosures beyond the change in income statement presentation. This new standard is effective for the Company in fiscal year 2019, with early adoption permitted. In January 2017, FASB issued new guidance regarding the goodwill impairment test. The new guidance eliminates the Step 2 valuation test, when evaluating goodwill for impairment. The new guidance requires that an entity performs its annual or interim goodwill test by comparing the fair value of the reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. The loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. The Company is evaluating the effect the updated standard will have on the Company’s consolidated financial statements and related disclosures. The guidance will be effective for the company in fiscal year 2021, with early adoption permitted. In October 2016, FASB issued new guidance regarding income taxes. The new guidance will require the tax effects of intercompany transactions, other than sales of inventory, to be recognized currently, eliminating an exception under current Generally Accepted Accounting Principles (GAAP) in which the tax effects of intra-entity asset transfers are deferred until the transferred asset is sold to a third party or otherwise recovered through use. The Company is evaluating the effect the updated standard will have on the Company’s consolidated financial statements and related disclosures. The guidance will be effective for the Company in fiscal year 2019, with early adoption permitted. In August 2016, the FASB issued new guidance addressing how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The Company is evaluating the effect the updated standard will have on the Company’s consolidated financial statements and related disclosures. The guidance will be effective for the Company in fiscal year 2019, with early adoption permitted. In June 2016, the FASB issued a new standard on the measurement of credit losses, which will impact the Company’s measurement of trade receivables. The new standard replaces the current incurred loss model with a forward-looking expected loss model that is likely to result in earlier recognition of losses. The Company is evaluating the effect the updated standard will have on the Company’s consolidated financial statements and related disclosures. The new standard is effective for the Company in fiscal year 2021, with early adoption permitted, but not earlier than in fiscal year 2020. In March 2016, the FASB issued new guidance simplifying certain aspects of accounting for share-based payments. The key provision of the new standard requires that excess tax benefits and shortfalls be recorded as income tax benefit or expense in the income statement, rather than in equity. The Company adopted the new guidance during the first six months of fiscal 2017, which resulted in a $1.0 million benefit to income tax expense and a favorable impact to operating cash flows of $1.0 million. The Company has also elected to account for forfeitures as they occur, rather than estimate expected forfeitures, which resulted in a positive cumulative effect on retained earnings of $0.9 million and a reduction of additional paid-in capital of $0.9 million. In February 2016, the FASB issued a new lease accounting standard, which provides revised guidance on accounting for lease arrangements by both lessors and lessees. The central requirement of the new standard is that lessees must recognize lease related assets and liabilities for all leases with a term longer than 12 months. The Company is evaluating the effect the standard will have on the Company’s consolidated financial statements and related disclosures. The new standard is effective for the Company in fiscal year 2020, with early adoption permitted. In May 2014, the FASB amended requirements for an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The updated standard will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective, and permits the use of either the retrospective or cumulative effect transition method. The Company is evaluating the effect the updated standard will have on the Company’s consolidated financial statements and related disclosures. The updated standard becomes effective for the Company in the first quarter of fiscal 2019, with early adoption permitted. Anticipated changes under the new standard include accounting for development costs and associated customer funding related to certain contracts and increased use of over time revenue recognition based on costs incurred for certain contracts. The new standard also significantly enhances required disclosures regarding revenue and related assets and liabilities. The Company continues to evaluate the impacts associated with the new standard and estimated impacts of adoption on the financial statements and related disclosures. The Company is in the process of evaluating changes to business processes, systems and internal controls required to implement the new accounting standard.

Earnings Per Share and Sharehol

Earnings Per Share and Shareholders Equity	6 Months Ended
	Mar. 31, 2017
Earnings Per Share [Abstract]
Earnings Per Share and Shareholders Equity	Note 3 – Earnings Per Share and Shareholders’ Equity Basic earnings per share is computed on the basis of the weighted average number of shares outstanding during the year. Diluted earnings per share includes the dilutive effect of stock options, restricted stock units and share units related to the Company’s performance share plan to the extent that performance share plan objectives are met. Common shares issuable from stock options excluded from the calculation of diluted earnings per share because they were anti-dilutive were 740,575 and 775,225 in the three and six month periods ending March 31, 2017. Common shares issuable from stock options excluded from the calculation of diluted earnings per share because they were anti-dilutive were 766,500 and 688,600 in the three and six month periods ending April 1, 2016. Shares used for calculating earnings per share are disclosed in the following table: In Thousands Three Months Ended Six Months Ended March 31, April 1, March 31, April 1, 2017 2016 2017 2016 Shares used for basic earnings per share 29,719 29,588 29,633 29,585 Shares used for diluted earnings per share 29,959 29,825 29,895 29,882 The authorized capital stock of the Company consists of 25,000 shares of preferred stock ($100 par value), 475,000 shares of serial preferred stock ($1.00 par value), each issuable in series, and 60,000,000 shares of common stock ($.20 par value). As of March 31, 2017, and September 30, 2016, there were no shares of preferred stock or serial preferred stock outstanding. On June 19, 2014, the Company’s board of directors approved a $200 million share repurchase program. In March 2015, the Company’s board of directors approved an additional $200 million for the share repurchase program. Under the program, the Company is authorized to repurchase up to $400 million of outstanding shares of common stock from time to time, depending on market conditions, share price and other factors. Repurchases may be made in the open market or through private transactions, in accordance with SEC requirements. The Company may enter into a Rule 10(b)5-1 plan designed to facilitate the repurchase of all or a portion of the repurchase amount. The program does not require the Company to acquire a specific number of shares. Common stock repurchased can be reissued, and accordingly, the Company accounts for repurchased stock under the cost method of accounting. There were no shares repurchased during the six months ended March 31, 2017. There were 202,310 shares repurchased during the six months ended April 1, 2016. Since the program began, the Company has repurchased 3,135,927 shares for an aggregate purchase price of $308.5 million, leaving $91.5 million in shares available for repurchase in the future. Changes in issued and outstanding common shares are summarized as follows: Six Months Ended Year Ended March 31, September 30, 2017 2016 Shares Issued: Balance, beginning of year 32,564,252 32,378,185 Shares issued under share-based compensation plans 345,484 186,067 Balance, end of current period 32,909,736 32,564,252 Treasury Stock: Balance, beginning of year (3,135,927 ) (2,831,350 ) Shares purchased - (304,577 ) Balance, end of current period (3,135,927 ) (3,135,927 ) Shares outstanding, end of period 29,773,809 29,428,325 The components of Accumulated Other Comprehensive Gain (Loss): In Thousands March 31, September 30, 2017 2016 Unrealized gain (loss) on derivative contracts $ (5,242 ) $ (4,547 ) Tax effect 1,558 1,077 (3,684 ) (3,470 ) Pension and post-retirement obligations (112,750 ) (116,346 ) Tax effect 38,552 39,804 (74,198 ) (76,542 ) Foreign currency translation adjustment (305,683 ) (268,845 ) Accumulated other comprehensive gain (loss) $ (383,565 ) $ (348,857 )

Retirement Benefits

Retirement Benefits	6 Months Ended
	Mar. 31, 2017
Compensation And Retirement Disclosure [Abstract]
Retirement Benefits	Note 4 – Retirement Benefits The Company’s pension plans principally include a U.S. pension plan maintained by Esterline and a non-U.S. plan maintained by CMC Electronics, Inc. (CMC). The Company also sponsors a number of other non-U.S. defined benefit pension plans, primarily in Belgium, France and Germany. Components of periodic pension cost consisted of the following: In Thousands Three Months Ended Six Months Ended March 31, April 1, March 31, April 1, 2017 2016 2017 2016 Components of Net Periodic Cost Service cost $ 3,368 $ 2,945 $ 6,725 $ 5,902 Interest cost 3,734 4,247 7,455 8,640 Expected return on plan assets (6,290 ) (5,993 ) (12,555 ) (11,904 ) Amortization of prior service cost 115 112 229 226 Amortization of actuarial (gain) loss 1,638 1,577 3,401 3,059 Net periodic cost (benefit) $ 2,565 $ 2,888 $ 5,255 $ 5,923 The Company amortizes prior service cost and actuarial gains and losses from accumulated other comprehensive income to expense over the remaining service period.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Mar. 31, 2017
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 5 – Fair Value Measurements Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A fair value hierarchy has been established that prioritizes the inputs to valuation techniques used to measure fair value. An asset’s or liability’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The hierarchy of fair value measurements is described below: Level 1 – Valuations are based on quoted prices that the Company has the ability to obtain in actively traded markets for identical assets and liabilities. Since valuations are based on quoted prices that are readily and regularly available in an active market or exchange traded market, a valuation of these instruments does not require a significant degree of judgment. Level 2 – Valuations are based on quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market. Level 3 – Valuations are based on model-based techniques for which some or all of the assumptions are not observable and therefore obtained from indirect market information that is significant to the overall fair value measurement and which require a significant degree of management judgment. The following table sets forth the Company’s financial assets and liabilities that were measured at fair value on a recurring basis by level within the fair value hierarchy at March 31, 2017, and September 30, 2016. In Thousands Level 2 March 31, September 30, 2017 2016 Assets: Derivative contracts designated as hedging instruments $ 1,809 $ 2,948 Derivative contracts not designated as hedging instruments 219 143 Embedded derivatives 2,125 2,485 Liabilities: Derivative contracts designated as hedging instruments $ 7,052 $ 7,828 Derivative contracts not designated as hedging instruments 5,863 6,720 Embedded derivatives 661 985 In Thousands Level 3 March 31, September 30, 2017 2016 Assets: Estimated value of assets held for sale $ 13,803 $ 26,850 Liabilities: Estimated value of liabilities held for sale $ 2,754 $ 11,133 The Company’s embedded derivatives are the result of entering into sales or purchase contracts that are denominated in a currency other than the Company’s functional currency or the supplier’s or customer’s functional currency. The fair value is determined by calculating the difference between quoted exchange rates at the time the contract was entered into and the period-end exchange rate. These contracts are categorized as Level 2 in the fair value hierarchy. The Company’s derivative contracts consist of foreign currency exchange contracts and, from time to time, interest rate swap agreements. These derivative contracts are over the counter, and their fair value is determined using modeling techniques that include market inputs such as interest rates, yield curves, and currency exchange rates. These contracts are categorized as Level 2 in the fair value hierarchy. In fiscal 2014, the Company’s board of directors approved the plan to sell certain non-core business units. Based upon the estimated fair values, the Company adjusted the carrying value of the assets and liabilities of the businesses to fair value. Principle assumptions used in measuring the estimated value of assets and liabilities held for sale included estimated selling price of the discontinued business, discount rates, industry growth rates, and pricing of comparable transactions in the market. The change in the estimated value of assets and liabilities held for sale is due to disposing of a business with assets held for sale of $10.5 million and liabilities held for sale of $7.4 million at September 30, 2016. In addition, the estimated selling price of the remaining business held for sale was reduced by $4.4 million during fiscal year 2017. The valuations are categorized as Level 3 in the fair value hierarchy.

Derivative Financial Instrument

Derivative Financial Instruments	6 Months Ended
	Mar. 31, 2017
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Note 6 – Derivative Financial Instruments The Company uses derivative financial instruments in the form of foreign currency forward exchange contracts and interest rate swap contracts for the purpose of minimizing exposure to changes in foreign currency exchange rates on business transactions and interest rates, respectively. The Company’s policy is to execute such instruments with banks the Company believes to be creditworthy and not to enter into derivative financial instruments for speculative purposes. These derivative financial instruments do not subject the Company to undue risk, as gains and losses on these instruments generally offset gains and losses on the underlying assets, liabilities, or anticipated transactions that are being hedged. All derivative financial instruments are recorded at fair value in the Consolidated Balance Sheet. For a derivative that has not been designated as an accounting hedge, the change in the fair value is recognized immediately through earnings. For a derivative that has been designated as an accounting hedge of an existing asset or liability (a fair value hedge), the change in the fair value of both the derivative and underlying asset or liability is recognized immediately through earnings. For a derivative designated as an accounting hedge of an anticipated transaction (a cash flow hedge), the change in the fair value is recorded on the Consolidated Balance Sheet in Accumulated Other Comprehensive Income (AOCI) to the extent the derivative is effective in mitigating the exposure related to the anticipated transaction. The change in the fair value related to the ineffective portion of the hedge, if any, is immediately recognized in earnings. The amount recorded within AOCI is reclassified into earnings in the same period during which the underlying hedged transaction affects earnings. The fair value of derivative instruments is presented on a gross basis, as the Company does not have any derivative contracts which are subject to master netting arrangements. The Company did not have any hedges with credit-risk-related contingent features or that required the posting of collateral as of March 31, 2017, and September 30, 2016. The cash flows from derivative contracts are recorded in operating activities in the Consolidated Statement of Cash Flows. Foreign Currency Forward Exchange Contracts The Company transacts business in various foreign currencies, which subjects the Company’s cash flows and earnings to exposure related to changes in foreign currency exchange rates. These exposures arise primarily from purchases or sales of products and services from third parties. Foreign currency forward exchange contracts provide for the purchase or sale of foreign currencies at specified future dates at specified exchange rates, and are used to offset changes in the fair value of certain assets or liabilities or forecasted cash flows resulting from transactions denominated in foreign currencies. At March 31, 2017, and September 30, 2016, the Company had outstanding foreign currency forward exchange contracts principally to sell U.S. dollars with notional amounts of $392.0 million and $450.9 million, respectively. These notional values consist primarily of contracts for the European euro, British pound sterling and Canadian dollar, and are stated in U.S. dollar equivalents at spot exchange rates at the respective dates. Interest Rate Swaps The Company manages its exposure to interest rate risk by maintaining an appropriate mix of fixed and variable rate debt, which over time should moderate the costs of debt financing. When considered necessary, the Company may use financial instruments in the form of interest rate swaps to help meet this objective. Embedded Derivative Instruments The Company’s embedded derivatives are the result of entering into sales or purchase contracts that are denominated in a currency other than the Company’s functional currency or the supplier’s or customer’s functional currency. Net Investment Hedge In April 2015, the Company issued €330.0 million in 3.625% Senior Notes due April 2023 (2023 Notes) and requiring semi-annual interest payments in April and October each year until maturity. The Company designated the 2023 Notes and accrued interest as a hedge of the investment of certain foreign business units. The foreign currency gain or loss that is effective as a hedge is reported as a component of other comprehensive income (loss) in shareholders’ equity. To the extent that this hedge is ineffective, the foreign currency gain or loss is recorded in earnings. There was no ineffectiveness of the hedge since inception. Fair Value of Derivative Instruments Fair value of derivative instruments in the Consolidated Balance Sheet at March 31, 2017, and September 30, 2016, consisted of: In Thousands Fair Value March 31, September 30, Classification 2017 2016 Foreign Currency Forward Exchange Contracts: Other current assets $ 1,817 $ 1,757 Other assets 211 1,334 Accrued liabilities 10,519 11,168 Other liabilities 2,396 3,380 Embedded Derivative Instruments: Other current assets $ 1,598 $ 1,864 Other assets 527 621 Accrued liabilities 651 866 Other liabilities 10 119 The effect of derivative instruments on the Consolidated Statement of Operations and Comprehensive Income (Loss) for the six month periods ended March 31, 2017, and April 1, 2016, consisted of: Fair Value Hedges and Embedded Derivatives The Company recognized the following gains (losses) on contracts designated as fair value hedges and embedded derivatives: In Thousands Three Months Ended Six Months Ended Gain (Loss) March 31, April 1, March 31, April 1, 2017 2016 2017 2016 Embedded derivatives: Recognized in sales $ (518 ) $ (4,708 ) $ (265 ) $ (3,607 ) Cash Flow Hedges The Company recognized the following gains (losses) on contracts designated as cash flow hedges: In Thousands Three Months Ended Six Months Ended Gain (Loss) March 31, April 1, March 31, April 1, 2017 2016 2017 2016 Foreign currency forward exchange contracts: Recognized in AOCI (effective portion) $ 9,050 $ 25,688 $ 7,176 $ 28,574 Reclassified from AOCI into sales (3,446 ) (5,414 ) (7,871 ) (12,473 ) Net Investment Hedges The Company recognized the following gains (losses) on contracts designated as net investment hedges: In Thousands Three Months Ended Six Months Ended Gain (Loss) March 31, April 1, March 31, April 1, 2017 2016 2017 2016 2023 Notes and Accrued Interest: Recognized in AOCI $ (4,534 ) $ (17,785 ) $ 19,379 $ (6,252 ) During the second quarter of fiscal 2017 and 2016, the Company recorded a gain of $2.4 million and a loss of $0.9 million, respectively, on foreign currency forward exchange contracts that have not been designated as accounting hedges. During the first six months of fiscal 2017 and 2016, the Company recorded losses of $0.3 million and $2.7 million, respectively, on foreign currency forward exchange contracts that have not been designated as accounting hedges. These foreign currency exchange gains and losses are included in selling, general and administrative expense. There was no significant impact to the Company’s earnings related to the ineffective portion of any hedging instruments during the first six months of fiscal 2017 and 2016. In addition, there was no significant impact to the Company’s earnings when a hedged firm commitment no longer qualified as a fair value hedge or when a hedged forecasted transaction no longer qualified as a cash flow hedge during the first six months of fiscal 2017 and 2016. Amounts included in AOCI are reclassified into earnings when the hedged transaction settles. The Company expects to reclassify approximately $4.6 million of net loss into earnings over the next 12 months. The maximum duration of the Company’s foreign currency cash flow hedge contracts at March 31, 2017, is 24 months.

Income Taxes

Income Taxes	6 Months Ended
	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Income Taxes	Note 7 – Income Taxes The income tax rate was 28.4% in the second quarter of fiscal 2017 compared with 16.6% in the prior-year period. In the second quarter of fiscal 2017, the income tax rate reflects U.K. tax law changes limiting interest expense deductions. The income tax rate differed from the statutory rate in the second quarter of fiscal 2017 and 2016, as both years benefited from various tax credits and certain foreign interest expense deductions. The income tax rate was 20.2% and 11.0% for the first six months of fiscal 2017 and 2016, respectively. The income tax rate in the current period was higher primarily due to U.K. limitations on interest deductions. In the first six months of 2017, the Company recognized $5.4 million of discrete tax benefits primarily related to a reduction of the income tax rate in France for fiscal year 2020 and the early adoption of the accounting standard update for employee share-based payment awards. In the first six months of 2016, the Company recognized approximately $2.2 million of discrete tax benefits principally related to the enactment of tax laws reducing the U.K. statutory income tax rate, and the retroactive extension of the U.S. federal research and development credits. During the next 12 months, it is reasonably possible that approximately $1.4 million of tax benefits that are currently unrecognized could be recognized as a result of settlement of examinations and/or the expiration of applicable statutes of limitations. The Company recognizes interest related to unrecognized tax benefits in income tax expense.

Debt

Debt	6 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Debt	Note 8 – Debt Long-term debt at March 31, 2017 and September 30, 2016, consisted of the following: In Thousands March 31, September 30, 2017 2016 U.S. credit facility $ 90,000 $ 155,000 U.S. Term Loan, due April 2020 231,250 237,500 3.625% Senior Notes, due April 2023 351,648 370,920 Government refundable advances 42,139 44,994 Debt issuance costs (5,132 ) (5,609 ) Obligation under capital leases 68,468 67,765 778,373 870,570 Less current maturities 14,168 16,774 Carrying amount of long-term debt $ 764,205 $ 853,796 U.S. Credit Facility On April 9, 2015, the Company amended its secured credit facility to extend the maturity to April 9, 2020, increase the amount available for borrowing under the secured revolving credit facility to $500 million, and provide for a delayed-draw term loan facility of $250 million. The Company recorded $2.3 million in debt issuance costs. The credit facility is secured by substantially all the Company’s assets, and interest is based on standard inter-bank offering rates. The interest rate ranges from LIBOR plus 1.25% to LIBOR plus 2.00% depending on leverage ratios at the time the funds are drawn. The Company had $90.0 million outstanding under the secured credit facility at an interest rate of LIBOR plus 1.75%. At March 31, 2017, the weighted average interest rate was 2.45%. U.S. Term Loan, due April 2020 On August 3, 2015, the Company borrowed $250 million under the U.S. Term Loan, due 2020, provided for under the amended secured credit facility (U.S. Term Loan, due 2020). The interest rate on the U.S. Term Loan, due 2020, ranges from LIBOR plus 1.25% to LIBOR plus 2.00%. At March 31, 2017, the interest rate was LIBOR plus 1.75%, which equaled 2.49%. The loan amortizes at 1.25% of the original principal balance quarterly through March 2020, with the remaining balance due in April 2020. 3.625% Senior Notes, due April 2023 In April 2015, the Company issued €330.0 million in 3.625% Notes, due 2023 requiring semi-annual interest payments in April and October of each year until maturity. The net proceeds from the sale of the notes, after deducting $5.9 million of debt issuance costs, were $350.8 million. The 2023 Notes are general unsecured senior obligations of the Company. The 2023 Notes are unconditionally guaranteed on a senior basis by the Company and certain subsidiaries of the Company that are guarantors under the Company’s existing secured credit facility. The 2023 Notes are subject to redemption at the option of the Company at any time prior to April 15, 2018, at a price equal to 100% of the principal amount, plus any accrued interest to the date of redemption and a make-whole provision. The Company may also redeem up to 35% of the 2023 Notes before April 15, 2018, with the net cash proceeds from equity offerings. The 2023 Notes are also subject to redemption at the option of the Company, in whole or in part, on or after April 15, 2018, at redemption prices starting at 102.719% of the principal amount plus accrued interest during the period beginning April 15, 2018, and declining annually to 100% of principal and accrued interest on or after April 15, 2021. Based on quoted market prices, the fair value of the Company’s 2023 Notes was $357.8 million and $365.3 million as of March 31, 2017, and September 30, 2016, respectively. The carrying amount of the secured credit facility and the U.S. Term Loan, due 2020, approximate fair value. The estimate of fair value for the 2023 Notes is based on Level 2 inputs as defined in the fair value hierarchy described in Note 5. Government Refundable Advances Government refundable advances consist of payments received from the Canadian government to assist in research and development related to commercial aviation. The requirement to repay this advance is solely based on year-over-year commercial aviation revenue growth at CMC beginning in 2014. Imputed interest on the advance was 2.3% at March 31, 2017. The debt recognized was $42.1 million and $45.0 million as of March 31, 2017, and September 30, 2016, respectively. Obligation Under Capital Lease The Company leases building and equipment under capital leases. The present value of the minimum capital lease payments, net of the current portion, totaled $66.6 million and $66.2 million as of March 31, 2017, and September 30, 2016, respectively.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Mar. 31, 2017
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 9 – Commitments and Contingencies The Company is party to various lawsuits and claims, both as a plaintiff and defendant, and has contingent liabilities arising from the conduct of business, none of which, in the opinion of management, is expected to have a material effect on the Company’s financial position or results of operations. The Company believes that it has made appropriate and adequate provisions for contingent liabilities. As of March 31, 2017, and September 30, 2016, the Company had a liability of $0.3 million and $0.8 million, respectively, related to environmental remediation at a previously sold business for which the Company provided indemnification. On March 5, 2014, the Company entered into a Consent Agreement with the U.S. Department of State’s Directorate of Defense Trade Controls Office of Defense Trade Controls Compliance (DTCC) to resolve alleged International Traffic in Arms Regulations (ITAR) civil violations. The Consent Agreement settled the pending ITAR compliance matter with the DTCC previously reported by the Company that resulted from voluntary reports the Company filed with DTCC that disclosed possible technical and administrative violations of the ITAR. The Consent Agreement has a three-year term and provides for: (i) a payment of $20 million, $10 million of which is suspended and eligible for offset credit based on verified expenditures for past and future remedial compliance measures; (ii) the appointment of an external Special Compliance Official to oversee compliance with the Consent Agreement and the ITAR; (iii) two external audits of the Company’s ITAR compliance program; and (iv) continued implementation of ongoing remedial compliance measures and additional remedial compliance measures related to automated systems and ITAR compliance policies, procedures and training. The Company expects to be released from the Consent Agreement in fiscal 2017, depending upon the Company’s satisfactory completion of the remaining requirements under the agreement and the timing of final approval by the DTCC. The $10 million portion of the settlement that was not subject to suspension was paid in installments, with $8 million paid over fiscal years 2014, 2015 and 2016. The remaining $2 million was paid in February 2017. In fiscal 2016, the DTCC approved costs the Company incurred to implement compliance measures to fully offset the $10 million suspended payment. During the second quarter of fiscal 2017, the Company received a $5.2 million insurance recovery due to an energetic incident at one of its countermeasure operations, which occurred in the third quarter of fiscal 2016. The insurance recovery from this incident was $7.8 million for the first six months of 2017 and was $5 million in fiscal 2016.

Employee Stock Plans

Employee Stock Plans	6 Months Ended
	Mar. 31, 2017
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Employee Stock Plans	Note 10 – Employee Stock Plans As of March 31, 2017, the Company had three share-based compensation plans, which are described below. The compensation cost that has been charged against income for those plans was $7.4 million and $7.6 million for the first six months of fiscal 2017 and 2016, respectively. During the first six months of fiscal 2017 and 2016, the Company issued 345,484 and 103,629 shares, respectively, under its share-based compensation plans. Employee Stock Purchase Plan (ESPP) The ESPP is a “safe-harbor” designed plan whereby shares are purchased by participants at a discount of 5% of the market value on the purchase date and, therefore, compensation cost is not recorded. Employee Sharesave Scheme The Company offers shares under its employee sharesave scheme for U.K. employees. This plan allows participants the option to purchase shares at a 5% discount of the market price of the stock as of the beginning of the offering period. The term of these options is three years. The sharesave scheme is not a “safe-harbor” design, and therefore, compensation cost is recognized on this plan. Under the sharesave scheme, option exercise prices are equal to the fair market value of the Company’s common stock on the date of grant. There were no grants in the six month periods ended March 31, 2017, and April 1, 2016. Equity Incentive Plan Under the equity incentive plan, option exercise prices are equal to the fair market value of the Company’s common stock on the date of grant. The Company granted 234,700 and 218,200 options to purchase shares in the six month periods ended March 31, 2017, and April 1, 2016, respectively. The weighted-average grant date fair value of options granted during the six month periods ended March 31, 2017, and April 1, 2016, was $32.60 and $35.84 per share, respectively. The fair value of each option granted by the Company was estimated using a Black-Scholes pricing model, which uses the assumptions noted in the following table. The Company uses historical data to estimate volatility of the Company’s common stock and option exercise and employee termination assumptions. The risk-free rate for the contractual life of the option is based on the U.S. Treasury zero coupon issues in effect at the time of the grant. Six Months Ended March 31, April 1, 2017 2016 Volatility 34.97 - 35.42% 33.06 - 40.52% Risk-free interest rate 1.98 - 2.51% 1.61 - 2.24% Expected life (years) 5 - 9 5 - 9 Dividends 0 0 The Company granted 37,100 and 36,000 restricted stock units in the six month periods ended March 31, 2017, and April 1, 2016, respectively. The weighted-average grant date fair value of restricted stock units granted during the six month periods ended March 31, 2017, and April 1, 2016, was $76.83 and $85.33 per share, respectively. The fair value of each restricted stock unit granted by the Company is equal to the fair market value of the Company’s common stock on the date of grant. The Company granted 42,600 and 55,300 performance share plan (PSP) shares in the six month periods ended March 31, 2017, and April 1, 2016, respectively. PSP shares will be paid out in shares of Esterline common stock at the end of the three year performance period. The PSP shares granted in each period equaled the number of shares participants would receive if the Company achieves target performance over the relevant period. The actual number of shares that will be paid out upon completion of the performance period is based on actual performance and may range from 0% to 300% of the target number of shares.

Discontinued Operations

Discontinued Operations	6 Months Ended
	Mar. 31, 2017
Discontinued Operations And Disposal Groups [Abstract]
Discontinued Operations	Note 11 – Discontinued Operations The Company’s board of directors previously approved the plan to sell certain non-core business units including Wallop Defence Systems, Ltd. (Wallop), a manufacturer of flare countermeasure devices; a small distribution business; and a small manufacturing business. On May 4, 2016, the Company sold certain assets of Wallop for 2.5 million British pounds and contingent consideration of up to a maximum payment of 9 million British pounds. The contingent consideration is payable based upon receipt of acceptable orders during a three year period ending May 3, 2019, and is equal to the amount of the acceptable order multiplied by a specified percentage ranging from 26.5% to 31%. The contingent consideration amount was estimated to be 5.6 million British pounds at March 31, 2017. On March 28, 2017, the Company sold a small manufacturing business for $0.6 million and a note receivable of $2.4 million, resulting in a gain on sale of the business of $1.2 million. The note receivable is due March 28, 2021, with an interest rate of 2.05%. The Company incurred no loss from discontinued operations in the second quarter of fiscal 2017 compared to $2.0 million loss from discontinued operations in the second quarter of fiscal 2016. During the first six months of fiscal 2017 and 2016, the Company incurred a loss from discontinued operations of $5.4 million and $6.8 million, respectively. Included in the loss of $5.4 million for the first six months of fiscal 2017 was a $4.3 million loss on Wallop assets held for sale, principally due to a reduction in the estimated sale price and the effect of changes in foreign currency exchange rates. There was no significant change to the estimated sale price in the second quarter of fiscal 2017. The operating results of the discontinued operations for the three month period ended March 31, 2017, consisted of the following: In Thousands Avionics & Sensors & Advanced Controls Systems Materials Other Total Net Sales $ 2,268 $ - $ - $ - $ 2,268 Operating earnings (loss) 752 (2 ) (1,269 ) (289 ) (808 ) Tax expense (benefit) (191 ) - (482 ) (101 ) (774 ) Income (loss) from discontinued operations $ 943 $ (2 ) $ (787 ) $ (188 ) $ (34 ) Included in Operating Earnings (Loss): Gain (loss) on net assets held for sale $ 54 $ - $ 265 $ - $ 319 Gain on sale of discontinued operation 1,188 - - - 1,188 The operating results of the discontinued operations for the six month period ended March 31, 2017, consisted of the following: In Thousands Avionics & Sensors & Advanced Controls Systems Materials Other Total Net Sales $ 4,964 $ - $ - $ - $ 4,964 Operating earnings (loss) (119 ) 893 (6,616 ) (893 ) (6,735 ) Tax expense (benefit) (430 ) - (623 ) (312 ) (1,365 ) Income (loss) from discontinued operations $ 311 $ 893 $ (5,993 ) $ (581 ) $ (5,370 ) Included in Operating Earnings (Loss): Gain (loss) on net assets held for sale $ (86 ) $ - $ (4,323 ) $ - $ (4,409 ) Gain on sale of discontinued operation 1,188 - - - 1,188 The operating results of the discontinued operations for the three month period ended April 1, 2016, consisted of the following: In Thousands Avionics & Sensors & Advanced Controls Systems Materials Other Total Net Sales $ 4,479 $ - $ 2,289 $ - $ 6,768 Operating earnings (loss) 1,072 (151 ) (2,874 ) (7 ) (1,960 ) Tax expense (benefit) 273 - (210 ) - 63 Income (loss) from discontinued operations $ 799 $ (151 ) $ (2,664 ) $ (7 ) $ (2,023 ) Included in Operating Earnings (Loss): Gain (loss) on net assets held for sale $ 326 $ - $ (1,381 ) $ - $ (1,055 ) The operating results of the discontinued operations for the six month period ended April 1, 2016, consisted of the following: In Thousands Avionics & Sensors & Advanced Controls Systems Materials Other Total Net Sales $ 10,061 $ - $ 4,773 $ - $ 14,834 Operating earnings (loss) 1,969 (307 ) (8,867 ) (11 ) (7,216 ) Tax expense (benefit) 686 - (1,099 ) - (413 ) Income (loss) from discontinued operations $ 1,283 $ (307 ) $ (7,768 ) $ (11 ) $ (6,803 ) Included in Operating Earnings (Loss): Gain (loss) on net assets held for sale $ 56 $ - $ (3,628 ) $ - $ (3,572 ) Assets and Liabilities Held for Sale within the Consolidated Balance Sheet at March 31, 2017, are comprised of the following: In Thousands Avionics & Sensors & Advanced Controls Systems Materials Total Other current assets $ - $ - $ 3,659 $ 3,659 Current Assets of Businesses Held for Sale - - 3,659 3,659 Net property, plant and equipment 5,262 - - 5,262 Other assets - - 4,882 4,882 Non-Current Assets of Businesses Held for Sale 5,262 - 4,882 10,144 Accounts payable - - 231 231 Accrued liabilities - - 838 838 Current Liabilities of Businesses Held for Sale - - 1,069 1,069 Deferred income tax liabilities - - 1,365 1,365 Other liabilities - - 320 320 Non-Current Liabilities of Businesses Held for Sale - - 1,685 1,685 Net Assets of Businesses Held for Sale $ 5,262 $ - $ 5,787 $ 11,049 Assets and Liabilities Held for Sale within the Consolidated Balance Sheet at September 30, 2016, were comprised of the following: In Thousands Avionics & Sensors & Advanced Controls Systems Materials Total Accounts receivable, net $ 2,588 $ - $ 4,093 $ 6,681 Inventories 8,070 - 398 8,468 Prepaid expenses 127 - 103 230 Income tax refundable - - 71 71 Current Assets of Businesses Held for Sale 10,785 - 4,665 15,450 Net property, plant and equipment 5,368 - 2,869 8,237 Intangibles, net - - 1,856 1,856 Deferred income tax benefits (392 ) - 400 8 Other assets - - 1,299 1,299 Non-Current Assets of Businesses Held for Sale 4,976 - 6,424 11,400 Accounts payable 441 - 1,463 1,904 Accrued liabilities 7,000 - 1,909 8,909 Current Liabilities of Businesses Held for Sale 7,441 - 3,372 10,813 Other liabilities - - 320 320 Non-Current Liabilities of Businesses Held for Sale - - 320 320 Net Assets of Businesses Held for Sale $ 8,320 $ - $ 7,397 $ 15,717

Business Segment Information

Business Segment Information	6 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
Business Segment Information	Note 12 – Business Segment Information Business segment information for continuing operations includes the segments of Avionics & Controls, Sensors & Systems and Advanced Materials. In Thousands Three Months Ended Six Months Ended March 31, April 1, March 31, April 1, 2017 2016 2017 2016 Sales Avionics & Controls $ 213,593 $ 198,665 $ 406,275 $ 384,910 Sensors & Systems 182,478 176,069 349,551 328,499 Advanced Materials 113,111 115,576 211,089 218,378 $ 509,182 $ 490,310 $ 966,915 $ 931,787 Earnings from Continuing Operations Before Income Taxes Avionics & Controls $ 21,761 $ 2,649 $ 39,678 $ 12,062 Sensors & Systems 27,156 20,944 47,102 33,728 Advanced Materials 28,322 23,208 38,202 36,198 Segment Earnings 77,239 46,801 124,982 81,988 Corporate expense (20,022 ) (18,965 ) (37,789 ) (37,030 ) Interest income 100 94 196 181 Interest expense (7,458 ) (7,294 ) (15,346 ) (14,510 ) $ 49,859 $ 20,636 $ 72,043 $ 30,629

Recent Accounting Pronounceme18

Recent Accounting Pronouncements (Policies)	6 Months Ended
	Mar. 31, 2017
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Recent Accounting Pronouncements	In March 2017, the Financial Accounting Standards Board (FASB) issued new guidance on the presentation of the net periodic cost of postretirement benefit programs. The new standard requires sponsors of defined benefit postretirement plans to present the non-service cost components of net periodic benefit cost separate from the service cost component on the income statement. The new standard also requires that the non-service cost components of net periodic benefit cost no longer be capitalized within assets. The Company is evaluating the effects the standard will have on the Company's consolidated financial statements and related disclosures beyond the change in income statement presentation. This new standard is effective for the Company in fiscal year 2019, with early adoption permitted. In January 2017, FASB issued new guidance regarding the goodwill impairment test. The new guidance eliminates the Step 2 valuation test, when evaluating goodwill for impairment. The new guidance requires that an entity performs its annual or interim goodwill test by comparing the fair value of the reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. The loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. The Company is evaluating the effect the updated standard will have on the Company’s consolidated financial statements and related disclosures. The guidance will be effective for the company in fiscal year 2021, with early adoption permitted. In October 2016, FASB issued new guidance regarding income taxes. The new guidance will require the tax effects of intercompany transactions, other than sales of inventory, to be recognized currently, eliminating an exception under current Generally Accepted Accounting Principles (GAAP) in which the tax effects of intra-entity asset transfers are deferred until the transferred asset is sold to a third party or otherwise recovered through use. The Company is evaluating the effect the updated standard will have on the Company’s consolidated financial statements and related disclosures. The guidance will be effective for the Company in fiscal year 2019, with early adoption permitted. In August 2016, the FASB issued new guidance addressing how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The Company is evaluating the effect the updated standard will have on the Company’s consolidated financial statements and related disclosures. The guidance will be effective for the Company in fiscal year 2019, with early adoption permitted. In June 2016, the FASB issued a new standard on the measurement of credit losses, which will impact the Company’s measurement of trade receivables. The new standard replaces the current incurred loss model with a forward-looking expected loss model that is likely to result in earlier recognition of losses. The Company is evaluating the effect the updated standard will have on the Company’s consolidated financial statements and related disclosures. The new standard is effective for the Company in fiscal year 2021, with early adoption permitted, but not earlier than in fiscal year 2020. In March 2016, the FASB issued new guidance simplifying certain aspects of accounting for share-based payments. The key provision of the new standard requires that excess tax benefits and shortfalls be recorded as income tax benefit or expense in the income statement, rather than in equity. The Company adopted the new guidance during the first six months of fiscal 2017, which resulted in a $1.0 million benefit to income tax expense and a favorable impact to operating cash flows of $1.0 million. The Company has also elected to account for forfeitures as they occur, rather than estimate expected forfeitures, which resulted in a positive cumulative effect on retained earnings of $0.9 million and a reduction of additional paid-in capital of $0.9 million. In February 2016, the FASB issued a new lease accounting standard, which provides revised guidance on accounting for lease arrangements by both lessors and lessees. The central requirement of the new standard is that lessees must recognize lease related assets and liabilities for all leases with a term longer than 12 months. The Company is evaluating the effect the standard will have on the Company’s consolidated financial statements and related disclosures. The new standard is effective for the Company in fiscal year 2020, with early adoption permitted. In May 2014, the FASB amended requirements for an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The updated standard will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective, and permits the use of either the retrospective or cumulative effect transition method. The Company is evaluating the effect the updated standard will have on the Company’s consolidated financial statements and related disclosures. The updated standard becomes effective for the Company in the first quarter of fiscal 2019, with early adoption permitted. Anticipated changes under the new standard include accounting for development costs and associated customer funding related to certain contracts and increased use of over time revenue recognition based on costs incurred for certain contracts. The new standard also significantly enhances required disclosures regarding revenue and related assets and liabilities. The Company continues to evaluate the impacts associated with the new standard and estimated impacts of adoption on the financial statements and related disclosures. The Company is in the process of evaluating changes to business processes, systems and internal controls required to implement the new accounting standard.

Earnings Per Share and Shareh19

Earnings Per Share and Shareholders Equity (Tables)	6 Months Ended
	Mar. 31, 2017
Earnings Per Share [Abstract]
Shares Used for Calculating Earnings Per Share	Shares used for calculating earnings per share are disclosed in the following table: In Thousands Three Months Ended Six Months Ended March 31, April 1, March 31, April 1, 2017 2016 2017 2016 Shares used for basic earnings per share 29,719 29,588 29,633 29,585 Shares used for diluted earnings per share 29,959 29,825 29,895 29,882
Schedule of Changes in Issued and Outstanding Common Shares and Treasury Stock	Changes in issued and outstanding common shares are summarized as follows: Six Months Ended Year Ended March 31, September 30, 2017 2016 Shares Issued: Balance, beginning of year 32,564,252 32,378,185 Shares issued under share-based compensation plans 345,484 186,067 Balance, end of current period 32,909,736 32,564,252 Treasury Stock: Balance, beginning of year (3,135,927 ) (2,831,350 ) Shares purchased - (304,577 ) Balance, end of current period (3,135,927 ) (3,135,927 ) Shares outstanding, end of period 29,773,809 29,428,325
Schedule of Components of Accumulated Other Comprehensive Loss	The components of Accumulated Other Comprehensive Gain (Loss): In Thousands March 31, September 30, 2017 2016 Unrealized gain (loss) on derivative contracts $ (5,242 ) $ (4,547 ) Tax effect 1,558 1,077 (3,684 ) (3,470 ) Pension and post-retirement obligations (112,750 ) (116,346 ) Tax effect 38,552 39,804 (74,198 ) (76,542 ) Foreign currency translation adjustment (305,683 ) (268,845 ) Accumulated other comprehensive gain (loss) $ (383,565 ) $ (348,857 )

Retirement Benefits (Tables)

Retirement Benefits (Tables)	6 Months Ended
	Mar. 31, 2017
Compensation And Retirement Disclosure [Abstract]
Schedule of Net Periodic Pension Cost	The Company’s pension plans principally include a U.S. pension plan maintained by Esterline and a non-U.S. plan maintained by CMC Electronics, Inc. (CMC). The Company also sponsors a number of other non-U.S. defined benefit pension plans, primarily in Belgium, France and Germany. Components of periodic pension cost consisted of the following: In Thousands Three Months Ended Six Months Ended March 31, April 1, March 31, April 1, 2017 2016 2017 2016 Components of Net Periodic Cost Service cost $ 3,368 $ 2,945 $ 6,725 $ 5,902 Interest cost 3,734 4,247 7,455 8,640 Expected return on plan assets (6,290 ) (5,993 ) (12,555 ) (11,904 ) Amortization of prior service cost 115 112 229 226 Amortization of actuarial (gain) loss 1,638 1,577 3,401 3,059 Net periodic cost (benefit) $ 2,565 $ 2,888 $ 5,255 $ 5,923

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Mar. 31, 2017
Fair Value Disclosures [Abstract]
Schedule of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis	The following table sets forth the Company’s financial assets and liabilities that were measured at fair value on a recurring basis by level within the fair value hierarchy at March 31, 2017, and September 30, 2016. In Thousands Level 2 March 31, September 30, 2017 2016 Assets: Derivative contracts designated as hedging instruments $ 1,809 $ 2,948 Derivative contracts not designated as hedging instruments 219 143 Embedded derivatives 2,125 2,485 Liabilities: Derivative contracts designated as hedging instruments $ 7,052 $ 7,828 Derivative contracts not designated as hedging instruments 5,863 6,720 Embedded derivatives 661 985 In Thousands Level 3 March 31, September 30, 2017 2016 Assets: Estimated value of assets held for sale $ 13,803 $ 26,850 Liabilities: Estimated value of liabilities held for sale $ 2,754 $ 11,133

Derivative Financial Instrume22

Derivative Financial Instruments (Tables)	6 Months Ended
	Mar. 31, 2017
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Fair Value of Derivative Instruments In Consolidated Balance Sheet	Fair value of derivative instruments in the Consolidated Balance Sheet at March 31, 2017, and September 30, 2016, consisted of: In Thousands Fair Value March 31, September 30, Classification 2017 2016 Foreign Currency Forward Exchange Contracts: Other current assets $ 1,817 $ 1,757 Other assets 211 1,334 Accrued liabilities 10,519 11,168 Other liabilities 2,396 3,380 Embedded Derivative Instruments: Other current assets $ 1,598 $ 1,864 Other assets 527 621 Accrued liabilities 651 866 Other liabilities 10 119
Effect of Derivative Instruments on Consolidated Statement of Operations	The effect of derivative instruments on the Consolidated Statement of Operations and Comprehensive Income (Loss) for the six month periods ended March 31, 2017, and April 1, 2016, consisted of: Fair Value Hedges and Embedded Derivatives The Company recognized the following gains (losses) on contracts designated as fair value hedges and embedded derivatives: In Thousands Three Months Ended Six Months Ended Gain (Loss) March 31, April 1, March 31, April 1, 2017 2016 2017 2016 Embedded derivatives: Recognized in sales $ (518 ) $ (4,708 ) $ (265 ) $ (3,607 ) Cash Flow Hedges The Company recognized the following gains (losses) on contracts designated as cash flow hedges: In Thousands Three Months Ended Six Months Ended Gain (Loss) March 31, April 1, March 31, April 1, 2017 2016 2017 2016 Foreign currency forward exchange contracts: Recognized in AOCI (effective portion) $ 9,050 $ 25,688 $ 7,176 $ 28,574 Reclassified from AOCI into sales (3,446 ) (5,414 ) (7,871 ) (12,473 ) Net Investment Hedges The Company recognized the following gains (losses) on contracts designated as net investment hedges: In Thousands Three Months Ended Six Months Ended Gain (Loss) March 31, April 1, March 31, April 1, 2017 2016 2017 2016 2023 Notes and Accrued Interest: Recognized in AOCI $ (4,534 ) $ (17,785 ) $ 19,379 $ (6,252 )

Debt (Tables)

Debt (Tables)	6 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Long-Term Debt	Long-term debt at March 31, 2017 and September 30, 2016, consisted of the following: In Thousands March 31, September 30, 2017 2016 U.S. credit facility $ 90,000 $ 155,000 U.S. Term Loan, due April 2020 231,250 237,500 3.625% Senior Notes, due April 2023 351,648 370,920 Government refundable advances 42,139 44,994 Debt issuance costs (5,132 ) (5,609 ) Obligation under capital leases 68,468 67,765 778,373 870,570 Less current maturities 14,168 16,774 Carrying amount of long-term debt $ 764,205 $ 853,796

Employee Stock Plans (Tables)

Employee Stock Plans (Tables)	6 Months Ended
	Mar. 31, 2017
Equity Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Fair Value of Option Granted using Black-Scholes Pricing Model	The fair value of each option granted by the Company was estimated using a Black-Scholes pricing model, which uses the assumptions noted in the following table. Six Months Ended March 31, April 1, 2017 2016 Volatility 34.97 - 35.42% 33.06 - 40.52% Risk-free interest rate 1.98 - 2.51% 1.61 - 2.24% Expected life (years) 5 - 9 5 - 9 Dividends 0 0

Discontinued Operations (Tables

Discontinued Operations (Tables)	6 Months Ended
	Mar. 31, 2017
Discontinued Operations And Disposal Groups [Abstract]
Schedule of Discontinued Operations	The operating results of the discontinued operations for the three month period ended March 31, 2017, consisted of the following: In Thousands Avionics & Sensors & Advanced Controls Systems Materials Other Total Net Sales $ 2,268 $ - $ - $ - $ 2,268 Operating earnings (loss) 752 (2 ) (1,269 ) (289 ) (808 ) Tax expense (benefit) (191 ) - (482 ) (101 ) (774 ) Income (loss) from discontinued operations $ 943 $ (2 ) $ (787 ) $ (188 ) $ (34 ) Included in Operating Earnings (Loss): Gain (loss) on net assets held for sale $ 54 $ - $ 265 $ - $ 319 Gain on sale of discontinued operation 1,188 - - - 1,188 The operating results of the discontinued operations for the six month period ended March 31, 2017, consisted of the following: In Thousands Avionics & Sensors & Advanced Controls Systems Materials Other Total Net Sales $ 4,964 $ - $ - $ - $ 4,964 Operating earnings (loss) (119 ) 893 (6,616 ) (893 ) (6,735 ) Tax expense (benefit) (430 ) - (623 ) (312 ) (1,365 ) Income (loss) from discontinued operations $ 311 $ 893 $ (5,993 ) $ (581 ) $ (5,370 ) Included in Operating Earnings (Loss): Gain (loss) on net assets held for sale $ (86 ) $ - $ (4,323 ) $ - $ (4,409 ) Gain on sale of discontinued operation 1,188 - - - 1,188 The operating results of the discontinued operations for the three month period ended April 1, 2016, consisted of the following: In Thousands Avionics & Sensors & Advanced Controls Systems Materials Other Total Net Sales $ 4,479 $ - $ 2,289 $ - $ 6,768 Operating earnings (loss) 1,072 (151 ) (2,874 ) (7 ) (1,960 ) Tax expense (benefit) 273 - (210 ) - 63 Income (loss) from discontinued operations $ 799 $ (151 ) $ (2,664 ) $ (7 ) $ (2,023 ) Included in Operating Earnings (Loss): Gain (loss) on net assets held for sale $ 326 $ - $ (1,381 ) $ - $ (1,055 ) The operating results of the discontinued operations for the six month period ended April 1, 2016, consisted of the following: In Thousands Avionics & Sensors & Advanced Controls Systems Materials Other Total Net Sales $ 10,061 $ - $ 4,773 $ - $ 14,834 Operating earnings (loss) 1,969 (307 ) (8,867 ) (11 ) (7,216 ) Tax expense (benefit) 686 - (1,099 ) - (413 ) Income (loss) from discontinued operations $ 1,283 $ (307 ) $ (7,768 ) $ (11 ) $ (6,803 ) Included in Operating Earnings (Loss): Gain (loss) on net assets held for sale $ 56 $ - $ (3,628 ) $ - $ (3,572 ) Assets and Liabilities Held for Sale within the Consolidated Balance Sheet at March 31, 2017, are comprised of the following: In Thousands Avionics & Sensors & Advanced Controls Systems Materials Total Other current assets $ - $ - $ 3,659 $ 3,659 Current Assets of Businesses Held for Sale - - 3,659 3,659 Net property, plant and equipment 5,262 - - 5,262 Other assets - - 4,882 4,882 Non-Current Assets of Businesses Held for Sale 5,262 - 4,882 10,144 Accounts payable - - 231 231 Accrued liabilities - - 838 838 Current Liabilities of Businesses Held for Sale - - 1,069 1,069 Deferred income tax liabilities - - 1,365 1,365 Other liabilities - - 320 320 Non-Current Liabilities of Businesses Held for Sale - - 1,685 1,685 Net Assets of Businesses Held for Sale $ 5,262 $ - $ 5,787 $ 11,049 Assets and Liabilities Held for Sale within the Consolidated Balance Sheet at September 30, 2016, were comprised of the following: In Thousands Avionics & Sensors & Advanced Controls Systems Materials Total Accounts receivable, net $ 2,588 $ - $ 4,093 $ 6,681 Inventories 8,070 - 398 8,468 Prepaid expenses 127 - 103 230 Income tax refundable - - 71 71 Current Assets of Businesses Held for Sale 10,785 - 4,665 15,450 Net property, plant and equipment 5,368 - 2,869 8,237 Intangibles, net - - 1,856 1,856 Deferred income tax benefits (392 ) - 400 8 Other assets - - 1,299 1,299 Non-Current Assets of Businesses Held for Sale 4,976 - 6,424 11,400 Accounts payable 441 - 1,463 1,904 Accrued liabilities 7,000 - 1,909 8,909 Current Liabilities of Businesses Held for Sale 7,441 - 3,372 10,813 Other liabilities - - 320 320 Non-Current Liabilities of Businesses Held for Sale - - 320 320 Net Assets of Businesses Held for Sale $ 8,320 $ - $ 7,397 $ 15,717

Business Segment Information (T

Business Segment Information (Tables)	6 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
Business Segment Information for Continuing Operations	Business segment information for continuing operations includes the segments of Avionics & Controls, Sensors & Systems and Advanced Materials. In Thousands Three Months Ended Six Months Ended March 31, April 1, March 31, April 1, 2017 2016 2017 2016 Sales Avionics & Controls $ 213,593 $ 198,665 $ 406,275 $ 384,910 Sensors & Systems 182,478 176,069 349,551 328,499 Advanced Materials 113,111 115,576 211,089 218,378 $ 509,182 $ 490,310 $ 966,915 $ 931,787 Earnings from Continuing Operations Before Income Taxes Avionics & Controls $ 21,761 $ 2,649 $ 39,678 $ 12,062 Sensors & Systems 27,156 20,944 47,102 33,728 Advanced Materials 28,322 23,208 38,202 36,198 Segment Earnings 77,239 46,801 124,982 81,988 Corporate expense (20,022 ) (18,965 ) (37,789 ) (37,030 ) Interest income 100 94 196 181 Interest expense (7,458 ) (7,294 ) (15,346 ) (14,510 ) $ 49,859 $ 20,636 $ 72,043 $ 30,629

Recent Accounting Pronounceme27

Recent Accounting Pronouncements - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Apr. 01, 2016	Mar. 31, 2017	Apr. 01, 2016
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Tax expense (benefit)	$ 14,160	$ 3,416	$ 14,580	$ 3,383
Favorable impact to operating cash flows			91,345	$ 79,388
New Guidance | Early Adoption
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Tax expense (benefit)			(1,000)
Favorable impact to operating cash flows			1,000
Positive cumulative effect on retained earnings			900
Reduction of additional paid in capital			$ (900)

Earnings Per Share and Shareh28

Earnings Per Share and Shareholders Equity - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended	33 Months Ended
	Mar. 31, 2017	Apr. 01, 2016	Mar. 31, 2017	Apr. 01, 2016	Sep. 30, 2016	Mar. 31, 2017	Jul. 01, 2016	Mar. 31, 2015	Jun. 19, 2014
Earnings Per Share And Shareholders Equity [Line Items]
Anti-dilutive shares excluded from computation of earnings per share	740,575	766,500	775,225	688,600
Preferred stock shares authorized	25,000		25,000			25,000
Preferred stock, par value	$ 100		$ 100			$ 100
Common stock, shares authorized	60,000,000		60,000,000		60,000,000	60,000,000
Common stock, par value	$ 0.20		$ 0.20		$ 0.20	$ 0.20
Preferred stock shares outstanding	0		0		0	0
Approved and authorized amount under the stock repurchase program								$ 400,000,000	$ 200,000,000
Additional approved and authorized amount under the stock repurchase program								$ 200,000,000
Stock repurchased during period, shares			0	202,310	304,577	3,135,927
Aggregate value of repurchased stock						$ 308,500,000
Stock repurchase program, remaining authorized amount available for repurchase in future							$ 91,500,000
Series B Preferred Stock
Earnings Per Share And Shareholders Equity [Line Items]
Preferred stock shares authorized	475,000		475,000			475,000
Preferred stock, par value	$ 1		$ 1			$ 1
Preferred stock shares outstanding	0		0		0	0

Shares Used for Calculating Ear

Shares Used for Calculating Earnings Per Share (Detail) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Apr. 01, 2016	Mar. 31, 2017	Apr. 01, 2016
Earnings Per Share [Abstract]
Shares used for basic earnings per share	29,719	29,588	29,633	29,585
Shares used for diluted earnings per share	29,959	29,825	29,895	29,882

Schedule of Changes in Issued a

Schedule of Changes in Issued and Outstanding Common Shares and Treasury Stock (Detail) - shares	6 Months Ended		12 Months Ended	33 Months Ended
	Mar. 31, 2017	Apr. 01, 2016	Sep. 30, 2016	Mar. 31, 2017
Equity [Abstract]
Balance, beginning of year	32,564,252	32,378,185	32,378,185
Shares issued under share-based compensation plans	345,484		186,067
Balance, end of current period	32,909,736		32,564,252	32,909,736
Balance, beginning of year	(3,135,927)	(2,831,350)	(2,831,350)
Shares purchased	0	(202,310)	(304,577)	(3,135,927)
Balance, end of current period	(3,135,927)		(3,135,927)	(3,135,927)
Shares outstanding, end of period	29,773,809		29,428,325	29,773,809

Schedule of Components of Accum

Schedule of Components of Accumulated Other Comprehensive Gain (Loss) (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Sep. 30, 2016
Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract]
Unrealized gain (loss) on derivative contracts	$ (5,242)	$ (4,547)
Tax effect	1,558	1,077
Unrealized gain (loss) on derivative contracts, Total	(3,684)	(3,470)
Pension and post-retirement obligations	(112,750)	(116,346)
Tax effect	38,552	39,804
Pension and post-retirement obligations, Total	(74,198)	(76,542)
Foreign currency translation adjustment	(305,683)	(268,845)
Accumulated other comprehensive gain (loss)	$ (383,565)	$ (348,857)

Schedule of Net Periodic Pensio

Schedule of Net Periodic Pension Cost (Detail) - Pension Plans, Defined Benefit - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Apr. 01, 2016	Mar. 31, 2017	Apr. 01, 2016
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 3,368	$ 2,945	$ 6,725	$ 5,902
Interest cost	3,734	4,247	7,455	8,640
Expected return on plan assets	(6,290)	(5,993)	(12,555)	(11,904)
Amortization of prior service cost	115	112	229	226
Amortization of actuarial (gain) loss	1,638	1,577	3,401	3,059
Net periodic cost (benefit)	$ 2,565	$ 2,888	$ 5,255	$ 5,923

Schedule of Financial Assets an

Schedule of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Sep. 30, 2016
Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative contracts designated as hedging instruments, Assets	$ 1,809	$ 2,948
Derivative contracts not designated as hedging instruments, Assets	219	143
Embedded derivatives, Assets	2,125	2,485
Derivative contracts designated as hedging instruments, Liabilities	7,052	7,828
Derivative contracts not designated as hedging instruments, Liabilities	5,863	6,720
Embedded derivatives, Liabilities	661	985
Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Estimated value of assets held for sale	13,803	26,850
Estimated value of liabilities held for sale	$ 2,754	$ 11,133

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($) $ in Millions	6 Months Ended
	Mar. 31, 2017	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Assets of disposal group		$ 10.5
Liabilities of disposal group		$ 7.4
Reduction in estimated selling price of remaining business held for sale	$ 4.4

Derivative Financial Instrume35

Derivative Financial Instruments - Additional Information (Detail) € in Millions, $ in Millions	1 Months Ended	3 Months Ended		6 Months Ended		12 Months Ended
	Apr. 30, 2015EUR (€)	Mar. 31, 2017USD ($)	Apr. 01, 2016USD ($)	Mar. 31, 2017USD ($)	Apr. 01, 2016USD ($)	Sep. 30, 2016USD ($)	Dec. 30, 2016USD ($)
Derivative [Line Items]
Gains (Losses) on foreign currency forward exchange contracts not designated as an accounting hedge		$ 2.4	$ (0.9)	$ (0.3)	$ (2.7)
Net Gain (Loss) expected to be reclassified into earnings over next 12 months							$ (4.6)
Maturities of forecasted transactions using forward exchange contracts				24 months
3.625% Senior Notes, Due April 2023
Derivative [Line Items]
Debt instrument, interest rate	3.625%	3.625%		3.625%		3.625%
Debt instruments maturity date	Apr. 30, 2023			Apr. 30, 2023		Apr. 30, 2023
3.625% Senior Notes, Due April 2023 | Net Investment Hedges
Derivative [Line Items]
Derivative notional amount | €	€ 330
Foreign Exchange Forward
Derivative [Line Items]
Derivative notional amount		$ 392		$ 392		$ 450.9

Fair Value of Derivative Instru

Fair Value of Derivative Instruments in Consolidated Balance Sheet (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Sep. 30, 2016
Foreign Exchange Forward | Other Current Assets
Derivatives Fair Value [Line Items]
Derivative Instruments, Assets	$ 1,817	$ 1,757
Foreign Exchange Forward | Other Assets
Derivatives Fair Value [Line Items]
Derivative Instruments, Assets	211	1,334
Foreign Exchange Forward | Other Liabilities
Derivatives Fair Value [Line Items]
Derivative Instruments, Liabilities	2,396	3,380
Foreign Exchange Forward | Accrued Liabilities
Derivatives Fair Value [Line Items]
Derivative Instruments, Liabilities	10,519	11,168
Embedded Derivative Financial Instruments | Other Current Assets
Derivatives Fair Value [Line Items]
Derivative Instruments, Assets	1,598	1,864
Embedded Derivative Financial Instruments | Other Assets
Derivatives Fair Value [Line Items]
Derivative Instruments, Assets	527	621
Embedded Derivative Financial Instruments | Other Liabilities
Derivatives Fair Value [Line Items]
Derivative Instruments, Liabilities	10	119
Embedded Derivative Financial Instruments | Accrued Liabilities
Derivatives Fair Value [Line Items]
Derivative Instruments, Liabilities	$ 651	$ 866

Effect of Derivative Instrument

Effect of Derivative Instruments on Consolidated Statement of Operations and Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Apr. 01, 2016	Mar. 31, 2017	Apr. 01, 2016
Net Investment Hedges | 2023 Notes and Accrued Interest
Derivative Instruments Gain Loss [Line Items]
Gain (Loss) Recognized in AOCI	$ (4,534)	$ (17,785)	$ 19,379	$ (6,252)
Embedded Derivatives | Fair Value Hedging | Sales
Derivative Instruments Gain Loss [Line Items]
Gain (Loss) Recognized in sales	(518)	(4,708)	(265)	(3,607)
Foreign Exchange Forward | Cash Flow Hedging
Derivative Instruments Gain Loss [Line Items]
Gain (Loss) Recognized in AOCI (effective portion)	9,050	25,688	7,176	28,574
Gain (Loss) Reclassified from AOCI into sales	$ (3,446)	$ (5,414)	$ (7,871)	$ (12,473)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Apr. 01, 2016	Mar. 31, 2017	Apr. 01, 2016
Income Taxes [Line Items]
Discrete tax benefits related to reduction of income tax rate	$ (14,160)	$ (3,416)	$ (14,580)	$ (3,383)
Change in unrecognized tax benefit within the next twelve months	$ 1,400		$ 1,400
New Guidance For Accounting Standard Update | Adjustments for New Accounting Principle, Early Adoption
Income Taxes [Line Items]
Income tax rate	28.40%	16.60%	20.20%	11.00%
Discrete tax benefits related to reduction of income tax rate			$ 1,000
Discrete tax benefits related to enactment of tax laws				$ 2,200
New Guidance For Accounting Standard Update | Adjustments for New Accounting Principle, Early Adoption | France
Income Taxes [Line Items]
Discrete tax benefits related to reduction of income tax rate			$ 5,400

Long-Term Debt (Detail)

Long-Term Debt (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Sep. 30, 2016
Debt Instrument [Line Items]
Credit facility	$ 90,000	$ 155,000
Government refundable advances	42,139	44,994
Debt issuance costs	(5,132)	(5,609)
Obligation under capital leases	68,468	67,765
Total long-term debt	778,373	870,570
Less current maturities	14,168	16,774
Carrying amount of long-term debt	764,205	853,796
U.S. Credit Facility
Debt Instrument [Line Items]
Credit facility	90,000	155,000
U.S. Term Loan, due April 2020
Debt Instrument [Line Items]
Term Loan	231,250	237,500
3.625% Senior Notes, due April 2023
Debt Instrument [Line Items]
Senior Notes	$ 351,648	$ 370,920

Long-Term Debt (Parenthetical)

Long-Term Debt (Parenthetical) (Detail)	1 Months Ended	6 Months Ended	12 Months Ended
	Apr. 30, 2015	Mar. 31, 2017	Sep. 30, 2016
3.625% Senior Notes, due April 2023
Debt Instrument [Line Items]
Long-term debt interest rate	3.625%	3.625%	3.625%
Debt instruments maturity date	Apr. 30, 2023	Apr. 30, 2023	Apr. 30, 2023
U.S. Term Loan, due April 2020
Debt Instrument [Line Items]
Debt instruments maturity date		Apr. 30, 2020	Apr. 30, 2020

Debt - Additional Information (

Debt - Additional Information (Detail) € in Millions	Aug. 03, 2015USD ($)	Apr. 09, 2015USD ($)	Apr. 30, 2015USD ($)	Mar. 31, 2017USD ($)	Sep. 30, 2016USD ($)	Apr. 30, 2015EUR (€)
Debt Instrument [Line Items]
Credit facilities				$ 90,000,000	$ 155,000,000
Imputed interest on advance				2.30%
Government refundable advances				$ 42,139,000	44,994,000
Present value of minimum lease payment				$ 66,600,000	$ 66,200,000
U.S. Term Loan, due April 2020
Debt Instrument [Line Items]
Funds borrowed under the delayed-draw term Loan	$ 250,000,000
Loan amortization rate				1.25%
Loan amortization end date				Mar. 31, 2020
Debt instruments maturity date				Apr. 30, 2020	Apr. 30, 2020
7% Senior Notes, due August 2020
Debt Instrument [Line Items]
Debt instruments maturity date				Apr. 30, 2020
3.625% Senior Notes, Due April 2023
Debt Instrument [Line Items]
Debt issuance costs			$ 5,900,000
Debt instruments maturity date			Apr. 30, 2023	Apr. 30, 2023	Apr. 30, 2023
Debt instrument, face amount | €						€ 330
Debt instrument, interest rate				3.625%	3.625%	3.625%
Net proceeds from issuance of debt			$ 350,800,000
Fair market value of long-term debt and short-term borrowings				$ 357,800,000	$ 365,300,000
3.625% Senior Notes, Due April 2023 | Debt Redemption Prior April 15, 2018
Debt Instrument [Line Items]
Debt instrument redemption price percentage plus accrued interest			100.00%
Debt instrument redemption allowed percentage of principal amount redeemed			35.00%
3.625% Senior Notes, Due April 2023 | Debt Redemption After April 15, 2018
Debt Instrument [Line Items]
Debt instrument redemption price percentage plus accrued interest			102.719%
3.625% Senior Notes, Due April 2023 | Debt Redemption After April 15, 2021
Debt Instrument [Line Items]
Debt instrument redemption price percentage plus accrued interest			100.00%
London Interbank Offered Rate (LIBOR) | U.S. Term Loan, due April 2020
Debt Instrument [Line Items]
Interest rate, basis spread on variable rate				1.75%
Interest rate				2.49%
London Interbank Offered Rate (LIBOR) | Minimum | U.S. Term Loan, due April 2020
Debt Instrument [Line Items]
Interest rate, basis spread on variable rate	1.25%
London Interbank Offered Rate (LIBOR) | Maximum | U.S. Term Loan, due April 2020
Debt Instrument [Line Items]
Interest rate, basis spread on variable rate	2.00%
Secured Debt
Debt Instrument [Line Items]
Credit facility maturity date		Apr. 9, 2020
Debt issuance costs		$ 2,300,000
Credit facilities				$ 90,000,000
Interest rate				2.45%
Secured Debt | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Interest rate, basis spread on variable rate				1.75%
Secured Debt | London Interbank Offered Rate (LIBOR) | Minimum
Debt Instrument [Line Items]
Interest rate, basis spread on variable rate		1.25%
Secured Debt | London Interbank Offered Rate (LIBOR) | Maximum
Debt Instrument [Line Items]
Interest rate, basis spread on variable rate		2.00%
Secured Debt | Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity		$ 500,000,000
Secured Debt | Delayed-Draw Term Loan Facility
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity		$ 250,000,000

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Mar. 31, 2017	Apr. 01, 2016	Mar. 31, 2017	Apr. 01, 2016	Sep. 30, 2016	Mar. 05, 2014
Commitments And Contingencies Disclosure [Abstract]
Environmental Exit Costs, Assets Previously Disposed, Liability for Remediation	$ 300		$ 300		$ 800
Consent agreement term			The Consent Agreement has a three-year term and provides for: (i) a payment of $20 million, $10 million of which is suspended and eligible for offset credit based on verified expenditures for past and future remedial compliance measures; (ii) the appointment of an external Special Compliance Official to oversee compliance with the Consent Agreement and the ITAR; (iii) two external audits of the Company’s ITAR compliance program; and (iv) continued
Total penalty proposed by DDTC Office of Compliance						$ 20,000
Penalty suspended and eligible for offset credit						$ 10,000
Estimated and recorded charge	10,000		$ 10,000
Paid and recorded over fiscal years 2014, 2015, and 2016	8,000		8,000
Remaining amount paid in February 2017	2,000		2,000
Penalty suspended and approved for offset credit	10,000		10,000
Insurance recovery received	$ 5,189	$ 0	$ 7,789	$ 0	$ 5,000

Employee Stock Plans - Addition

Employee Stock Plans - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Mar. 31, 2017	Apr. 01, 2016
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation	$ 7,352	$ 7,578
Shares issued under share-based compensation plans	345,484	103,629
Restricted Stock Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted	37,100	36,000
Weighted Average Grant Date Fair Value	$ 76.83	$ 85.33
Performance Share Plan Shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted	42,600	55,300
Performance Share Plan Shares | Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of the target number of shares paid out	0.00%
Performance Share Plan Shares | Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of the target number of shares paid out	300.00%
Employee Share-save Scheme
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Discount rate of market value on purchase date	5.00%
The term of options, years	3 years
Number of options granted	0	0
Equity Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of options granted	234,700	218,200
Weighted-average grant date fair value of options granted	$ 32.60	$ 35.84
Employee Stock Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Discount rate of market value on purchase date	5.00%

Schedule of Fair Value of Optio

Schedule of Fair Value of Option Granted using Black-Scholes Pricing Model (Detail) - Equity Incentive Plan - USD ($)	6 Months Ended
	Mar. 31, 2017	Apr. 01, 2016
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Volatility, minimum	34.97%	33.06%
Volatility, maximum	35.42%	40.52%
Risk-free interest rate, minimum	1.98%	1.61%
Risk-free interest rate, maximum	2.51%	2.24%
Dividends	$ 0	$ 0
Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected life (years)	5 years	5 years
Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected life (years)	9 years	9 years

Discontinued Operations - Addit

Discontinued Operations - Additional Information (Detail) $ in Thousands, £ in Millions	Mar. 28, 2017USD ($)	May 04, 2016GBP (£)	Mar. 31, 2017USD ($)	Apr. 01, 2016USD ($)	Mar. 31, 2017USD ($)	Apr. 01, 2016USD ($)	Mar. 31, 2017GBP (£)	Sep. 30, 2016USD ($)
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Proceeds from sale of discontinued operations					$ 600	$ 0
Discontinued operation, note receivable								$ 6,681
Gain on sale of discontinued operation			$ 1,188		1,188	0
Loss from Discontinued Operations Attributable to Esterline, Net of Tax			(34)	$ (2,023)	(5,370)	(6,803)
Loss on net assets held for sale			$ 319	$ (1,055)	(4,409)	$ (3,572)
Wallop
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Proceeds from sale of discontinued operations | £		£ 2.5
Contingent consideration receivable term		3 years
Contingent consideration receivable period end date		May 3, 2019
Estimated contingent consideration receivable | £							£ 5.6
Loss on net assets held for sale					$ 4,300
Wallop | Maximum
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Contingent consideration, receivable | £		£ 9
Contingent consideration receivable acceptable orders multiplier percentage		31.00%
Wallop | Minimum
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Contingent consideration receivable acceptable orders multiplier percentage		26.50%
Small Manufacturing Business
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Proceeds from sale of discontinued operations	$ 600
Discontinued operation, note receivable	2,400
Gain on sale of discontinued operation	$ 1,200
Discontinued operation, note receivable due date	Mar. 28, 2021
Discontinued operation ,note receivable interest rate	2.05%

Discontinued Operations Income

Discontinued Operations Income (Loss) Net of Tax (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Apr. 01, 2016	Mar. 31, 2017	Apr. 01, 2016
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Net Sales	$ 2,268	$ 6,768	$ 4,964	$ 14,834
Operating earnings (loss)	(808)	(1,960)	(6,735)	(7,216)
Tax expense (benefit)	(774)	63	(1,365)	(413)
Income (loss) from discontinued operations	(34)	(2,023)	(5,370)	(6,803)
Included in Operating Earnings (Loss):
Gain (loss) on net assets held for sale	319	(1,055)	(4,409)	(3,572)
Gain on sale of discontinued operation	1,188		1,188	0
Avionics & Controls
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Net Sales	2,268	4,479	4,964	10,061
Operating earnings (loss)	752	1,072	(119)	1,969
Tax expense (benefit)	(191)	273	(430)	686
Income (loss) from discontinued operations	943	799	311	1,283
Included in Operating Earnings (Loss):
Gain (loss) on net assets held for sale	54	326	(86)	56
Gain on sale of discontinued operation	1,188		1,188
Sensors & Systems
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Net Sales	0	0	0	0
Operating earnings (loss)	(2)	(151)	893	(307)
Tax expense (benefit)	0	0	0	0
Income (loss) from discontinued operations	(2)	(151)	893	(307)
Included in Operating Earnings (Loss):
Gain (loss) on net assets held for sale	0	0	0	0
Gain on sale of discontinued operation	0		0
Advanced Materials
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Net Sales	0	2,289	0	4,773
Operating earnings (loss)	(1,269)	(2,874)	(6,616)	(8,867)
Tax expense (benefit)	(482)	(210)	(623)	(1,099)
Income (loss) from discontinued operations	(787)	(2,664)	(5,993)	(7,768)
Included in Operating Earnings (Loss):
Gain (loss) on net assets held for sale	265	(1,381)	(4,323)	(3,628)
Gain on sale of discontinued operation	0		0
Other
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Net Sales	0	0	0	0
Operating earnings (loss)	(289)	(7)	(893)	(11)
Tax expense (benefit)	(101)	0	(312)	0
Income (loss) from discontinued operations	(188)	(7)	(581)	(11)
Included in Operating Earnings (Loss):
Gain (loss) on net assets held for sale	0	$ 0	0	$ 0
Gain on sale of discontinued operation	$ 0		$ 0

Discontinued Operations Assets

Discontinued Operations Assets and Liabilities Held for Sale (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Sep. 30, 2016
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Other current assets	$ 3,659
Accounts receivable, net		$ 6,681
Inventories		8,468
Prepaid expenses		230
Income tax refundable		71
Current Assets of Businesses Held for Sale	3,659	15,450
Net property, plant and equipment	5,262	8,237
Intangibles, net		1,856
Deferred income tax benefits		8
Other assets	4,882	1,299
Non-Current Assets of Businesses Held for Sale	10,144	11,400
Accounts payable	231	1,904
Accrued liabilities	838	8,909
Current Liabilities of Businesses Held for Sale	1,069	10,813
Deferred income tax liabilities	1,365
Other liabilities	320	320
Non-Current Liabilities of Businesses Held for Sale	1,685	320
Net Assets of Businesses Held for Sale	11,049	15,717
Avionics & Controls
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Other current assets	0
Accounts receivable, net		2,588
Inventories		8,070
Prepaid expenses		127
Income tax refundable		0
Current Assets of Businesses Held for Sale	0	10,785
Net property, plant and equipment	5,262	5,368
Intangibles, net		0
Deferred income tax benefits		(392)
Other assets	0	0
Non-Current Assets of Businesses Held for Sale	5,262	4,976
Accounts payable	0	441
Accrued liabilities	0	7,000
Current Liabilities of Businesses Held for Sale	0	7,441
Deferred income tax liabilities	0
Other liabilities	0	0
Non-Current Liabilities of Businesses Held for Sale	0	0
Net Assets of Businesses Held for Sale	5,262	8,320
Sensors & Systems
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Other current assets	0
Accounts receivable, net		0
Inventories		0
Prepaid expenses		0
Income tax refundable		0
Current Assets of Businesses Held for Sale	0	0
Net property, plant and equipment	0	0
Intangibles, net		0
Deferred income tax benefits		0
Other assets	0	0
Non-Current Assets of Businesses Held for Sale	0	0
Accounts payable	0	0
Accrued liabilities	0	0
Current Liabilities of Businesses Held for Sale	0	0
Deferred income tax liabilities	0
Other liabilities	0	0
Non-Current Liabilities of Businesses Held for Sale	0	0
Net Assets of Businesses Held for Sale	0	0
Advanced Materials
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Other current assets	3,659
Accounts receivable, net		4,093
Inventories		398
Prepaid expenses		103
Income tax refundable		71
Current Assets of Businesses Held for Sale	3,659	4,665
Net property, plant and equipment	0	2,869
Intangibles, net		1,856
Deferred income tax benefits		400
Other assets	4,882	1,299
Non-Current Assets of Businesses Held for Sale	4,882	6,424
Accounts payable	231	1,463
Accrued liabilities	838	1,909
Current Liabilities of Businesses Held for Sale	1,069	3,372
Deferred income tax liabilities	1,365
Other liabilities	320	320
Non-Current Liabilities of Businesses Held for Sale	1,685	320
Net Assets of Businesses Held for Sale	$ 5,787	$ 7,397

Business Segment Information fo

Business Segment Information for Continuing Operations (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Apr. 01, 2016	Mar. 31, 2017	Apr. 01, 2016
Segment Reporting Information [Line Items]
Sales	$ 509,182	$ 490,310	$ 966,915	$ 931,787
Interest income	100	94	196	181
Interest expense	(7,458)	(7,294)	(15,346)	(14,510)
Earnings from Continuing Operations Before Income Taxes	49,859	20,636	72,043	30,629
Avionics & Controls
Segment Reporting Information [Line Items]
Sales	213,593	198,665	406,275	384,910
Sensors & Systems
Segment Reporting Information [Line Items]
Sales	182,478	176,069	349,551	328,499
Advanced Materials
Segment Reporting Information [Line Items]
Sales	113,111	115,576	211,089	218,378
Operating Segments
Segment Reporting Information [Line Items]
Segment Earnings	77,239	46,801	124,982	81,988
Operating Segments | Avionics & Controls
Segment Reporting Information [Line Items]
Segment Earnings	21,761	2,649	39,678	12,062
Operating Segments | Sensors & Systems
Segment Reporting Information [Line Items]
Segment Earnings	27,156	20,944	47,102	33,728
Operating Segments | Advanced Materials
Segment Reporting Information [Line Items]
Segment Earnings	28,322	23,208	38,202	36,198
Corporate Non Segment
Segment Reporting Information [Line Items]
Corporate expense	$ (20,022)	$ (18,965)	$ (37,789)	$ (37,030)