Company Quick10K Filing
Quick10K
Woodward
Closing Price ($) Shares Out (MM) Market Cap ($MM)
$108.97 62 $6,770
10-Q 2019-03-31 Quarter: 2019-03-31
10-Q 2018-12-31 Quarter: 2018-12-31
10-K 2018-09-30 Annual: 2018-09-30
10-Q 2018-06-30 Quarter: 2018-06-30
10-Q 2018-03-31 Quarter: 2018-03-31
10-Q 2017-12-31 Quarter: 2017-12-31
10-K 2017-09-30 Annual: 2017-09-30
10-Q 2017-06-30 Quarter: 2017-06-30
10-Q 2017-03-31 Quarter: 2017-03-31
10-Q 2016-12-31 Quarter: 2016-12-31
10-K 2016-09-30 Annual: 2016-09-30
10-Q 2016-06-30 Quarter: 2016-06-30
10-Q 2016-03-31 Quarter: 2016-03-31
10-Q 2015-12-31 Quarter: 2015-12-31
10-K 2015-09-30 Annual: 2015-09-30
10-Q 2015-06-30 Quarter: 2015-06-30
10-Q 2015-03-31 Quarter: 2015-03-31
10-Q 2014-12-31 Quarter: 2014-12-31
10-K 2014-09-30 Annual: 2014-09-30
10-Q 2014-06-30 Quarter: 2014-06-30
10-Q 2014-03-31 Quarter: 2014-03-31
10-Q 2013-12-31 Quarter: 2013-12-31
8-K 2019-06-19 Enter Agreement, Off-BS Arrangement
8-K 2019-05-01 Other Events, Exhibits
8-K 2019-04-29 Earnings, Exhibits
8-K 2019-02-19 Officers, Exhibits
8-K 2019-01-30 Other Events, Exhibits
8-K 2019-01-30 Shareholder Vote, Exhibits
8-K 2019-01-28 Earnings, Exhibits
8-K 2019-01-28 Earnings, Exhibits
8-K 2019-01-02 Officers, Exhibits
8-K 2018-11-07 Earnings, Exhibits
8-K 2018-09-18 Other Events, Exhibits
8-K 2018-07-30 Earnings, Exhibits
8-K 2018-07-25 Other Events, Exhibits
8-K 2018-05-31 Enter Agreement, M&A, Off-BS Arrangement, Regulation FD, Exhibits
8-K 2018-04-25 Other Events, Exhibits
8-K 2018-04-23 Earnings, Exhibits
8-K 2018-04-08 Enter Agreement, Regulation FD, Exhibits
8-K 2018-01-29 Exit Costs, Exhibits
8-K 2018-01-24 Other Events, Exhibits
8-K 2018-01-22 Earnings, Exhibits
Z Zillow Group 7,020
HOG Harley Davidson 5,720
ARGX Argenx Se 4,560
CC Chemours 4,460
MDP Meredith 2,670
STC Stewart Information Services 1,000
HCCI Heritage-Crystal Clean 640
CWBC Community West Bancshares 86
NSPR Inspiremd 6
SGYP Synergy Pharmaceuticals 0
WWD 2019-03-31
Part I – Financial Information
Item 1.Financial Statements
Note 1. Basis of Presentation
Note 2. New Accounting Standards
Note 3. Revenue
Note 4. Earnings per Share
Note 5. Business Acquisition
Note 6. Joint Venture
Note 7. Financial Instruments and Fair Value Measurements
Note 8. Derivative Instruments and Hedging Activities
Note 9. Supplemental Statement of Cash Flows Information
Note 10. Inventories
Note 11. Property, Plant, and Equipment
Note 12. Goodwill
Note 13. Intangible Assets, Net
Note 14. Credit Facilities, Short-Term Borrowings and Long-Term Debt
Note 15. Accrued Liabilities
Note 16. Other Liabilities
Note 17. Other (Income) Expense, Net
Note 18. Income Taxes
Note 19. Retirement Benefits
Note 20. Stockholders’ Equity
Note 21. Commitments and Contingencies
Note 22. Segment Information
Note 23. Subsequent Events
Item 2.Management’S Discussion and Analysis of Financial Condition and Results of Operations (Amounts in Thousands, Except per Share Amounts)
Item 3.Quantitative and Qualitative Disclosures About Market Risk
Item 4.Controls and Procedures
Part II – Other Information
Item 1. Legal Proceedings
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Item 6.Exhibits
EX-10.1 wwd-20190331xex10_1.htm
EX-31.1 wwd-20190331xex31_1.htm
EX-31.2 wwd-20190331xex31_2.htm
EX-32.1 wwd-20190331xex32_1.htm

Woodward Earnings 2019-03-31

WWD 10Q Quarterly Report

Balance SheetIncome StatementCash Flow

10-Q 1 wwd-20190331x10q.htm 10-Q wwd-20190331 Q2



UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

 QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2019

or

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _____ to _____



 



 



 

Commission file number 000-08408

WOODWARD, INC.

(Exact name of registrant as specified in its charter)



Delaware

 

36-1984010



(State or other jurisdiction of incorporation or organization)

 

(I.R.S. Employer Identification No.)



1081 Woodward Way, Fort Collins, Colorado

 

80524



(Address of principal executive offices)

 

(Zip Code)

(970) 482-5811



(Registrant’s telephone number, including area code)

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

Trading Symbol(s)

Name of exchange on which registered

Common Stock, par value $0.001455 per share

WWD

NASDAQ Global Select Market

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. 

Yes  No

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and such files).

Yes No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company.  See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer     Accelerated filer    Non-accelerated filer    Smaller reporting company

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes No

As of May 3, 2019, 62,116,558 shares of the registrant’s common stock with a par value of $0.001455 per share were outstanding.


 







 

 

TABLE OF CONTENTS



 

Page

PART I – FINANCIAL INFORMATION

Item 1.

Financial Statements



Condensed Consolidated Statements of Earnings



Condensed Consolidated Statements of Comprehensive Earnings



Condensed Consolidated Balance Sheets



Condensed Consolidated Statements of Cash Flows



Condensed Consolidated Statements of Stockholders’ Equity



Notes to Condensed Consolidated Financial Statements

Item 2.

Management’s Discussion and Analysis of Financial Condition and Results of Operations

45 



Forward Looking Statements

45 



Overview

48 



Results of Operations

52 



Liquidity and Capital Resources

58 

Item 3.

Quantitative and Qualitative Disclosures About Market Risk

65 

Item 4.

Controls and Procedures

65 

PART II – OTHER INFORMATION

Item 1.

Legal Proceedings

66 

Item 1A.

Risk Factors

66 

Item 2.

Unregistered Sales of Equity Securities and Use of Proceeds

66 

Item 6.

Exhibits

67 



Signatures

68 

1

 


 



PART I – FINANCIAL INFORMATION

Item 1.Financial Statements



WOODWARD, INC.

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS

(In thousands, except per share amounts)

(Unaudited)









 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 



Three-Months Ended

 

Six-Months Ended



March 31,

 

March 31,



2019

 

2018

 

2019

 

2018



 

 

 

 

 

 

 

 

 

 

 

Net sales

$

758,844 

 

$

548,249 

 

$

1,411,655 

 

$

1,018,397 

Costs and expenses:

 

 

 

 

 

 

 

 

 

 

 

    Cost of goods sold

 

566,841 

 

 

402,159 

 

 

1,059,015 

 

 

749,786 

    Selling, general and administrative expenses

 

54,857 

 

 

39,755 

 

 

106,784 

 

 

86,214 

    Research and development costs

 

43,831 

 

 

37,169 

 

 

82,698 

 

 

71,955 

    Restructuring charges

 

 -

 

 

17,013 

 

 

 -

 

 

17,013 

    Interest expense

 

11,480 

 

 

8,823 

 

 

23,358 

 

 

17,695 

    Interest income

 

(294)

 

 

(471)

 

 

(665)

 

 

(834)

    Other (income) expense, net (Note 17)

 

(8,039)

 

 

(4,846)

 

 

(11,218)

 

 

(9,566)

Total costs and expenses

 

668,676 

 

 

499,602 

 

 

1,259,972 

 

 

932,263 

Earnings before income taxes

 

90,168 

 

 

48,647 

 

 

151,683 

 

 

86,134 

Income tax expense

 

12,589 

 

 

10,158 

 

 

24,984 

 

 

29,385 

Net earnings

$

77,579 

 

$

38,489 

 

$

126,699 

 

$

56,749 



 

 

 

 

 

 

 

 

 

 

 

Earnings per share (Note 4):

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per share

$

1.25 

 

$

0.63 

 

$

2.04 

 

$

0.93 

Diluted earnings per share

$

1.20 

 

$

0.60 

 

$

1.97 

 

$

0.89 



 

 

 

 

 

 

 

 

 

 

 

Weighted Average Common Shares Outstanding (Note 4):

 

 

 

 

 

 

 

 

 

 

 

Basic

 

62,175 

 

 

61,401 

 

 

61,995 

 

 

61,323 

Diluted

 

64,564 

 

 

63,750 

 

 

64,307 

 

 

63,730 



See accompanying Notes to Condensed Consolidated Financial Statements

2

 


 



WOODWARD, INC.

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS

(In thousands)

(Unaudited)







































 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 



Three-Months Ended

 

Six-Months Ended



March 31,

 

March 31,



2019

 

2018

 

2019

 

2018



 

 

 

 

 

 

 

 

 

 

 

Net earnings

$

77,579 

 

$

38,489 

 

$

126,699 

 

$

56,749 



 

 

 

 

 

 

 

 

 

 

 

Other comprehensive earnings:

 

 

 

 

 

 

 

 

 

 

 

Foreign currency translation adjustments

 

323 

 

 

9,584 

 

 

(1,411)

 

 

14,687 

Net (loss) gain on foreign currency transactions designated as hedges of net investments in foreign subsidiaries (Note 8)

 

925 

 

 

(1,268)

 

 

1,574 

 

 

(2,011)

Taxes on changes in foreign currency translation adjustments

 

(280)

 

 

(450)

 

 

103 

 

 

(263)

Foreign currency translation and transactions adjustments, net of tax

 

968 

 

 

7,866 

 

 

266 

 

 

12,413 



 

 

 

 

 

 

 

 

 

 

 

Unrealized gain on fair value adjustment of derivative instruments (Note 8)

 

9,609 

 

 

 -

 

 

28,172 

 

 

 -

Reclassification of net realized gains on derivatives to earnings (Note 8)

 

(10,895)

 

 

(18)

 

 

(18,721)

 

 

(36)

Taxes on changes in derivative transactions

 

32 

 

 

 

 

(176)

 

 

13 

Derivative adjustments, net of tax

 

(1,254)

 

 

(12)

 

 

9,275 

 

 

(23)



 

 

 

 

 

 

 

 

 

 

 

Curtailment of postretirement benefit plan arising during the period

 

 -

 

 

 -

 

 

 -

 

 

59 



 

 

 

 

 

 

 

 

 

 

 

Amortization of pension and other postretirement plan:

 

 

 

 

 

 

 

 

 

 

 

Net prior service cost

 

176 

 

 

139 

 

 

352 

 

 

276 

Net loss

 

242 

 

 

248 

 

 

481 

 

 

494 

Foreign currency exchange rate changes on pension and other postretirement benefit plan liabilities

 

(301)

 

 

(583)

 

 

 

 

(682)

Taxes on changes in pension and other postretirement benefit plan liability adjustments, net of foreign currency exchange rate changes

 

 

 

60 

 

 

(203)

 

 

(72)

Pension and other postretirement benefit plan adjustments, net of tax

 

123 

 

 

(136)

 

 

632 

 

 

75 

Total comprehensive earnings

$

77,416 

 

$

46,207 

 

$

136,872 

 

$

69,214 



See accompanying Notes to Condensed Consolidated Financial Statements

3

 


 



WOODWARD, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except per share amounts)

(Unaudited)





 

 

 

 

 



 

 

 

 

 



March 31,

 

September 30,



2019

 

2018

ASSETS

 

 

 

 

 

Current assets:

 

 

 

 

 

Cash and cash equivalents, including restricted cash of $0 and $3,635, respectively

$

65,303 

 

$

83,594 

Accounts receivable, less allowance for uncollectible amounts of $4,033 and $3,938, respectively

 

592,336 

 

 

432,003 

Inventories

 

534,320 

 

 

549,596 

Income taxes receivable

 

13,968 

 

 

6,397 

Other current assets

 

38,165 

 

 

43,207 

Total current assets

 

1,244,092 

 

 

1,114,797 

Property, plant and equipment, net

 

1,064,388 

 

 

1,060,005 

Goodwill

 

804,461 

 

 

813,250 

Intangible assets, net

 

646,094 

 

 

700,883 

Deferred income tax assets

 

15,194 

 

 

16,570 

Other assets

 

191,720 

 

 

85,144 

Total assets

$

3,965,949 

 

$

3,790,649 

LIABILITIES AND STOCKHOLDERS' EQUITY

 

 

 

 

 

Current liabilities:

 

 

 

 

 

Short-term borrowings

$

160,000 

 

$

153,635 

Accounts payable

 

259,665 

 

 

226,285 

Income taxes payable

 

18,361 

 

 

16,745 

Accrued liabilities

 

204,586 

 

 

194,513 

Total current liabilities

 

642,612 

 

 

591,178 

Long-term debt, less current portion

 

1,000,468 

 

 

1,092,397 

Deferred income tax liabilities

 

162,831 

 

 

170,915 

Other liabilities

 

467,187 

 

 

398,055 

Total liabilities

 

2,273,098 

 

 

2,252,545 

Commitments and contingencies (Note 21)

 

 

 

 

 

Stockholders' equity:

 

 

 

 

 

Preferred stock, par value $0.003 per share, 10,000 shares authorized, no shares issued

 

 -

 

 

 -

Common stock, par value $0.001455 per share, 150,000 shares authorized, 72,960 shares issued

 

106 

 

 

106 

Additional paid-in capital

 

204,892 

 

 

185,705 

Accumulated other comprehensive losses

 

(64,811)

 

 

(74,942)

Deferred compensation

 

8,876 

 

 

8,431 

Retained earnings

 

2,102,350 

 

 

1,966,643 



 

2,251,413 

 

 

2,085,943 

Treasury stock at cost, 10,757 shares and 11,203 shares, respectively

 

(549,686)

 

 

(539,408)

Treasury stock held for deferred compensation, at cost, 206 shares and 202 shares, respectively

 

(8,876)

 

 

(8,431)

Total stockholders' equity

 

1,692,851 

 

 

1,538,104 

Total liabilities and stockholders' equity

$

3,965,949 

 

$

3,790,649 



 

 

 

 

 

See accompanying Notes to Condensed Consolidated Financial Statements.

4

 


 



WOODWARD, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(Unaudited)





 

 

 

 

 



 

 

 

 

 



Six-Months Ended March 31,



2019

 

2018



 

 

 

 

 

Net cash provided by operating activities

$

140,954 

 

$

56,718 



 

 

 

 

 

Cash flows from investing activities:

 

 

 

 

 

Payments for purchase of property, plant, and equipment

 

(54,341)

 

 

(58,478)

Proceeds from sale of assets

 

271 

 

 

1,198 

Proceeds from sales of short-term investments

 

10,259 

 

 

8,970 

Payments for purchases of short-term investments

 

(970)

 

 

(808)

Net cash used in investing activities

 

(44,781)

 

 

(49,118)



 

 

 

 

 

Cash flows from financing activities:

 

 

 

 

 

Cash dividends paid

 

(18,914)

 

 

(16,422)

Proceeds from sales of treasury stock

 

24,150 

 

 

3,560 

Payments for repurchases of common stock

 

(39,049)

 

 

 -

Borrowings on revolving lines of credit and short-term borrowings

 

865,617 

 

 

809,680 

Payments on revolving lines of credit and short-term borrowings

 

(844,262)

 

 

(800,350)

Payments of long-term debt and capital lease obligations

 

(100,265)

 

 

(210)

Net cash used in financing activities

 

(112,723)

 

 

(3,742)

Effect of exchange rate changes on cash and cash equivalents

 

(1,741)

 

 

8,737 

Net change in cash and cash equivalents

 

(18,291)

 

 

12,595 

Cash and cash equivalents at beginning of year

 

83,594 

 

 

87,552 

Cash and cash equivalents, including restricted cash, at end of period

$

65,303 

 

$

100,147 



 

 

 

 

 



See accompanying Notes to Condensed Consolidated Financial Statements







 

5

 


 



WOODWARD, INC.

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY

(In thousands)

(Unaudited)







 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

Number of shares

 

Stockholders' equity



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated other comprehensive (loss) earnings

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

Preferred
stock

 

Common
stock

 

Treasury
stock

 

Treasury
stock held for
deferred
compensation

 

Common
stock

 

Additional
 paid-in
capital

 

Foreign
currency
translation
adjustments

 

Unrealized
derivative
gains
(losses)

 

Minimum
retirement
benefit
liability
adjustments

 

Total
accumulated
other
comprehensive
(loss) earnings

 

Deferred compensation

 

Retained
earnings

 

Treasury
 stock at
cost

 

Treasury
stock held for
deferred
compensation

 

Total stockholders'
equity



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balances as of January 1, 2018

 

 -

 

72,960 

 

(11,706)

 

(200)

 

$

106 

 

$

176,473 

 

$

(22,733)

 

$

124 

 

$

(25,830)

 

$

(48,439)

 

$

8,173 

 

$

1,830,872 

 

$

(558,466)

 

$

(8,173)

 

$

1,400,546 

Net earnings

 

 -

 

 -

 

 -

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

38,489 

 

 

 -

 

 

 -

 

 

38,489 

Other comprehensive earnings (loss), net of tax

 

 -

 

 -

 

 -

 

 -

 

 

 -

 

 

 -

 

 

7,866 

 

 

(12)

 

 

(136)

 

 

7,718 

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

7,718 

Cash dividends paid ($0.1425 per share)

 

 -

 

 -

 

 -

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

(8,766)

 

 

 -

 

 

 -

 

 

(8,766)

Sales of treasury stock

   

 -

 

 -

 

64 

 

 -

 

 

 -

 

 

(43)

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

2,214 

 

 

 -

 

 

2,171 

Common shares issued from treasury stock for benefit plans

 

 -

 

 -

 

202 

 

 -

 

 

 -

 

 

7,157 

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

7,584 

 

 

 -

 

 

14,741 

Stock-based compensation

 

 -

 

 -

 

 -

 

 -

 

 

 -

 

 

2,011 

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

2,011 

Purchases and transfers of stock by/to deferred compensation plan

 

 -

 

 -

 

 -

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

52 

 

 

 -

 

 

 -

 

 

(52)

 

 

 -

Distribution of stock from deferred compensation plan

 

 -

 

 -

 

 -

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

(3)

 

 

 -

 

 

 -

 

 

 

 

 -

Balances as of March 31, 2018

 

 -

 

72,960 

 

(11,440)

 

(200)

 

$

106 

 

$

185,598 

 

$

(14,867)

 

$

112 

 

$

(25,966)

 

$

(40,721)

 

$

8,222 

 

$

1,860,595 

 

$

(548,668)

 

$

(8,222)

 

$

1,456,910 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balances as of January 1, 2019

 

 -

 

72,960 

 

(11,096)

 

(209)

 

$

106 

 

$

195,894 

 

$

(40,538)

 

$

(10,413)

 

$

(13,697)

 

$

(64,648)

 

$

9,015 

 

$

2,034,877 

 

$

(535,362)

 

$

(9,015)

 

$

1,630,867 

Net earnings

 

 -

 

 -

 

 -

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

77,579 

 

 

 -

 

 

 -

 

 

77,579 

Other comprehensive earnings (loss), net of tax

 

 -

 

 -

 

 -

 

 -

 

 

 -

 

 

 -

 

 

968 

 

 

(1,254)

 

 

123 

 

 

(163)

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

(163)

Cash dividends paid ($0.1625 per share)

 

 -

 

 -

 

 -

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

(10,106)

 

 

 -

 

 

 -

 

 

(10,106)

Purchases of treasury stock

 

 -

 

 -

 

(457)

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

(43,253)

 

 

 -

 

 

(43,253)

Sales of treasury stock

 

 -

 

 -

 

638 

 

 -

 

 

 -

 

 

(2,489)

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

23,256 

 

 

 -

 

 

20,767 

Common shares issued from treasury stock for benefit plans

 

 -

 

 -

 

158 

 

 -

 

 

 -

 

 

9,173 

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

5,673 

 

 

 -

 

 

14,846 

Stock-based compensation

 

 -

 

 -

 

 -

 

 -

 

 

 -

 

 

2,314 

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

2,314 

Purchases and transfers of stock by/to deferred compensation plan

 

 -

 

 -

 

 -

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

34 

 

 

 -

 

 

 -

 

 

(34)

 

 

 -

Distribution of stock from deferred compensation plan

 

 -

 

 -

 

 -

 

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

(173)

 

 

 -

 

 

 -

 

 

173 

 

 

 -

Balances as of March 31, 2019

 

 -

 

72,960 

 

(10,757)

 

(206)

 

$

106 

 

$

204,892 

 

$

(39,570)

 

$

(11,667)

 

$

(13,574)

 

$

(64,811)

 

$

8,876 

 

$

2,102,350 

 

$

(549,686)

 

$

(8,876)

 

$

1,692,851 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

See accompanying Notes to Condensed Consolidated Financial Statements

6

 


 

WOODWARD, INC.

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY

(In thousands)

(Unaudited)







 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

Number of shares

 

Stockholders' equity



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated other comprehensive (loss) earnings

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

Preferred
stock

 

Common
stock

 

Treasury
stock

 

Treasury
stock held for
deferred
compensation

 

Common
stock

 

Additional
 paid-in
capital

 

Foreign
currency
translation
adjustments

 

Unrealized
derivative
gains
(losses)

 

Minimum
retirement
benefit
liability
adjustments

 

Total
accumulated
other
comprehensive
(loss) earnings

 

Deferred compensation

 

Retained
earnings

 

Treasury
 stock at
cost

 

Treasury
stock held for
deferred
compensation

 

Total stockholders'
equity



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balances as of September 30, 2017

 

 -

 

72,960 

 

(11,739)

 

(186)

 

$

106 

 

$

163,836 

 

$

(27,280)

 

$

135 

 

$

(26,041)

 

$

(53,186)

 

$

7,135 

 

$

1,820,268 

 

$

(559,641)

 

$

(7,135)

 

$

1,371,383 

Net earnings

 

 -

 

 -

 

 -

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

56,749 

 

 

 -

 

 

 -

 

 

56,749 

Other comprehensive earnings (loss), net of tax

 

 -

 

 -

 

 -

 

 -

 

 

 -

 

 

 -

 

 

12,413 

 

 

(23)

 

 

75 

 

 

12,465 

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

12,465 

Cash dividends paid ($0.2675 per share)

 

 -

 

 -

 

 -

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

(16,422)

 

 

 -

 

 

 -

 

 

(16,422)

Sales of treasury stock

   

 -

 

 -

 

97 

 

 -

 

 

 -

 

 

171 

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

3,389 

 

 

 -

 

 

3,560 

Common shares issued from treasury stock for benefit plans

 

 -

 

 -

 

202 

 

 -

 

 

 -

 

 

7,157 

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

7,584 

 

 

 -

 

 

14,741 

Stock-based compensation

 

 -

 

 -

 

 -

 

 -

 

 

 -

 

 

14,434 

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

14,434 

Purchases and transfers of stock by/to deferred compensation plan

 

 -

 

 -

 

 -

 

(14)