XML 56 R34.htm IDEA: XBRL DOCUMENT v3.2.0.727
Acquisitions (Details) - USD ($)
$ in Thousands
1 Months Ended 3 Months Ended 6 Months Ended 9 Months Ended
Dec. 16, 2014
Feb. 28, 2014
Nov. 26, 2013
May. 31, 2014
Nov. 30, 2013
Jun. 30, 2015
Jun. 30, 2014
Mar. 31, 2015
Mar. 31, 2014
Jun. 30, 2015
Jun. 30, 2014
Acquisitions                      
Net sales           $ 347,806 $ 340,357     $ 1,005,128 $ 1,001,986
Net loss after taxes           (8,786) (12,216)     (2,937) (36,765)
Purchase price allocation                      
Goodwill           239,824   $ 184,141   184,141  
Changes in the carrying amount of goodwill                      
Balance at the beginning of the period               184,141   184,141  
Balance at the end of the period           239,824       239,824  
Unaudited pro forma information                      
Net sales           347,800 352,500     1,014,800 1,046,500
Net income attributable to Cubic           8,800 13,800     4,000 37,900
Adjustments made for transaction expenses                   0  
Transportation Systems                      
Acquisitions                      
Net sales           133,300 153,000     411,500 429,100
Cubic Global Defense Services                      
Acquisitions                      
Net sales           111,900 91,800     298,400 291,700
Cubic Global Defense Systems                      
Acquisitions                      
Net sales           102,600 95,600     295,200 281,200
DTECH LABS, Inc.                      
Acquisitions                      
Net sales           10,800       22,600  
Net loss after taxes           200       2,000  
Transaction and acquisition related costs                   800  
Cost of acquisition net $ 99,500                    
Contingent Amount 15,000                    
Fair value of consideration transferred 99,400                    
Cash consideration paid                   $ 91,000  
Current liability of additional cash consideration to be paid           8,900          
Additional cash consideration accelerated if certain event occurs 4,900                    
Fair value of the potential customer 4,500                    
Estimated fair value of the liability for contingent consideration           4,400          
Purchase price allocation                      
Cash 900                    
Deferred tax liabilities (3,300)                    
Accounts payable and accrued expenses (3,300)                    
Other net assets acquired 200                    
Net identifiable assets acquired 41,600                    
Goodwill 57,800                    
Net assets acquired 99,400                    
Accounts receivable 5,400                    
Inventory 4,200                    
Warranty obligation (400)                    
Weighted average useful life of intangible assets                   2 years  
Estimated amortization expense related to the intangible assets                      
2015 9,200                    
2016 8,000                    
2017 6,800                    
2018 5,500                    
2019 4,100                    
Thereafter 4,300                    
Changes in the carrying amount of goodwill                      
Balance at the end of the period 57,800                    
DTECH LABS, Inc. | Customer relationships                      
Purchase price allocation                      
Amortizable intangible assets 35,100                    
DTECH LABS, Inc. | Non-compete agreements                      
Purchase price allocation                      
Amortizable intangible assets 700                    
DTECH LABS, Inc. | Backlog                      
Purchase price allocation                      
Amortizable intangible assets $ 2,100                    
Intific Inc.                      
Acquisitions                      
Net sales           3,800 1,900     $ 10,600 2,700
Net loss after taxes           300 1,700     1,500 (3,800)
Transaction and acquisition related costs                     200
Compensation expense paid                     $ 3,700
Fair value of consideration transferred   $ 12,400                  
Cash consideration paid                   $ 11,200  
Current liability of additional cash consideration to be paid           1,200          
Purchase price allocation                      
Other intangible assets   200                  
Deferred tax liabilities   (1,500)                  
Accounts payable and accrued expenses   (600)                  
Other net assets acquired   500                  
Net identifiable assets acquired   5,000                  
Goodwill   7,400                  
Net assets acquired   12,400                  
Accounts receivable   1,500                  
Deferred tax assets   1,500                  
Weighted average useful life of intangible assets                   2 years  
Estimated amortization expense related to the intangible assets                      
2015   900                  
2016   700                  
2017   600                  
2018   500                  
2019   200                  
Thereafter   100                  
Changes in the carrying amount of goodwill                      
Balance at the end of the period   7,400                  
Intific Inc. | Customer relationships                      
Purchase price allocation                      
Amortizable intangible assets   2,000                  
Intific Inc. | Technology                      
Purchase price allocation                      
Amortizable intangible assets   700                  
Intific Inc. | Backlog                      
Purchase price allocation                      
Amortizable intangible assets   $ 700                  
ITMS                      
Acquisitions                      
Net sales           10,900 12,800 33,100 $ 30,100    
Net loss after taxes           600 $ 500 2,200 $ 200    
Transaction and acquisition related costs                   $ 500  
Fair value of consideration transferred     $ 72,200                
Cash consideration paid       $ 3,200 $ 69,000            
Purchase price allocation                      
Accounts receivable - billed     4,400                
Accounts receivable - unbilled     6,900                
Deferred tax liabilities     (200)                
Deferred revenue     (2,600)                
Accounts payable and accrued expenses     (4,600)                
Other net assets acquired     2,600                
Net identifiable assets acquired     31,400                
Goodwill     40,800     239,800   184,200   $ 184,200  
Net assets acquired     72,200                
Weighted average useful life of intangible assets                   2 years  
Estimated amortization expense related to the intangible assets                      
2015     5,900                
2016     4,900                
2017     3,900                
2018     2,900                
2019     900                
Thereafter     100                
Changes in the carrying amount of goodwill                      
Balance at the beginning of the period               184,200   $ 184,200  
Acquisitions                   57,800  
Foreign currency exchange rate changes                   (2,200)  
Balance at the end of the period     40,800     239,800       239,800  
ITMS | Transportation Systems                      
Purchase price allocation                      
Goodwill           57,600   59,200   59,200  
Changes in the carrying amount of goodwill                      
Balance at the beginning of the period               59,200   59,200  
Foreign currency exchange rate changes                   (1,600)  
Balance at the end of the period           57,600       57,600  
ITMS | Cubic Global Defense Services                      
Purchase price allocation                      
Goodwill           94,400   94,400   94,400  
Changes in the carrying amount of goodwill                      
Balance at the beginning of the period               94,400   94,400  
Balance at the end of the period           94,400       94,400  
ITMS | Cubic Global Defense Systems                      
Purchase price allocation                      
Goodwill           87,800   30,600   30,600  
Changes in the carrying amount of goodwill                      
Balance at the beginning of the period               $ 30,600   30,600  
Acquisitions                   57,800  
Foreign currency exchange rate changes                   (600)  
Balance at the end of the period           $ 87,800       $ 87,800  
ITMS | Customer relationships                      
Purchase price allocation                      
Amortizable intangible assets     15,700                
ITMS | Intellectual property                      
Purchase price allocation                      
Amortizable intangible assets     1,600                
ITMS | Backlog                      
Purchase price allocation                      
Amortizable intangible assets     5,700                
ITMS | Supplier relationships                      
Purchase price allocation                      
Amortizable intangible assets     600                
ITMS | Agreements with Seller                      
Purchase price allocation                      
Amortizable intangible assets     $ 1,300