XML 55 R27.htm IDEA: XBRL DOCUMENT v2.4.0.6
Acquisitions (Details) (USD $)
3 Months Ended 6 Months Ended 0 Months Ended 1 Months Ended 3 Months Ended 6 Months Ended 0 Months Ended 0 Months Ended 3 Months Ended 6 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Mar. 31, 2013
Mar. 31, 2012
Sep. 30, 2012
Dec. 14, 2012
NEK Special Programs Group LLC (NEK)
Dec. 31, 2012
NEK Special Programs Group LLC (NEK)
Mar. 31, 2013
NEK Special Programs Group LLC (NEK)
Mar. 31, 2012
NEK Special Programs Group LLC (NEK)
Mar. 31, 2013
NEK Special Programs Group LLC (NEK)
Mar. 31, 2012
NEK Special Programs Group LLC (NEK)
Dec. 14, 2012
NEK Special Programs Group LLC (NEK)
Minimum
item
Dec. 14, 2012
NEK Special Programs Group LLC (NEK)
Maximum
Dec. 14, 2012
NEK Special Programs Group LLC (NEK)
Customer relationships
Dec. 14, 2012
NEK Special Programs Group LLC (NEK)
Corporate trade names
Dec. 14, 2012
NEK Special Programs Group LLC (NEK)
Non-compete agreements
Jan. 24, 2013
Next Bus
Mar. 31, 2013
Next Bus
Mar. 31, 2012
Next Bus
Mar. 31, 2013
Next Bus
Mar. 31, 2012
Next Bus
Jan. 31, 2013
Next Bus
Jan. 24, 2013
Next Bus
Customer relationships
Jan. 24, 2013
Next Bus
Corporate trade names
Jan. 24, 2013
Next Bus
Acquired technology
Jan. 24, 2013
Next Bus
Backlog
Acquisitions                                                    
Number of employees hired                       200                            
Net sales $ 364,305,000 $ 339,645,000 $ 677,676,000 $ 656,411,000       $ 9,100,000   $ 9,600,000               $ 1,500,000   $ 1,500,000            
Net loss after taxes 27,210,000 23,448,000 39,729,000 44,187,000       (300,000)   (300,000)               (300,000)   (300,000)            
Transaction related costs               400,000   400,000               200,000   200,000            
Cost of acquisition net           52,000,000                     20,700,000                  
Fair value of consideration transferred           52,600,000                     20,000,000                  
Cash paid for acquisition             33,100,000                             20,700,000        
Current asset recorded 704,850,000   704,850,000   712,726,000                                 700,000        
Estimated current liability of additional cash consideration             19,500,000                                      
Additional cash consideration accelerated if certain event occurs             7,800,000                                      
Fair value of additional contingent cash consideration             11,700,000                                      
Period within which contingent consideration will be paid                       6 months 9 months                          
Purchase price allocation                                                    
Amortizable intangible assets                           13,300,000 4,900,000 200,000             8,800,000 1,000,000 1,300,000 1,700,000
Accounts receivable - billed           3,100,000                                        
Accounts receivable - unbilled           7,700,000                                        
Accounts receivable, net                                 2,200,000                  
Accounts payable and accrued expenses           (3,000,000)                     (1,200,000)                  
Deferred tax liabilities, net                                 (4,700,000)                  
Other net liabilities assumed           (400,000)                     (1,400,000)                  
Net identifiable assets acquired           25,800,000                     7,700,000                  
Goodwill           26,800,000                     12,300,000                  
Total           52,600,000                     20,000,000                  
Weighted average useful life of intangible assets               4 years                       5 years            
Estimated amortization expense related to the intangible assets                                                    
2013               3,000,000   3,000,000               1,200,000   1,200,000            
2014               3,400,000   3,400,000               1,600,000   1,600,000            
2015               2,900,000   2,900,000               1,500,000   1,500,000            
2016               2,400,000   2,400,000               1,400,000   1,400,000            
2017               1,900,000   1,900,000               1,300,000   1,300,000            
Unaudited pro forma information                                                    
Net sales               364,700,000 351,400,000 691,000,000 680,600,000             364,700,000 351,400,000 691,000,000 680,600,000          
Net income attributable to Cubic               $ 24,200,000 $ 23,900,000 $ 37,000,000 $ 45,100,000             $ 26,900,000 $ 23,900,000 $ 40,300,000 $ 45,100,000