Segment Information

6 Months Ended

Mar. 31, 2016

Segment Information

Segment Information

Note 12 — Segment Information

Business segment financial data is as follows (in millions):

	Six Months Ended				Three Months Ended
	March 31,				March 31,
	2016		2015		2016		2015
Sales:
Cubic Transportation Systems	$	274.5	$	278.2	$	148.7	$	146.7
Cubic Global Defense Systems		212.2		192.6		116.3		94.6
Cubic Global Defense Services		193.1		186.5		101.0		97.5
Total sales	$	679.8	$	657.3	$	366.0	$	338.8
Operating income (loss):
Cubic Transportation Systems	$	23.4	$	39.1	$	19.8	$	27.0
Cubic Global Defense Systems		(24.6)		(0.4)		(21.2)		2.3
Cubic Global Defense Services		4.5		1.1		4.3		1.1
Unallocated corporate expenses and other		(20.5)		(9.4)		(12.0)		(7.2)
Total operating income (loss)	$	(17.2)	$	30.4	$	(9.1)	$	23.2
Depreciation and amortization:
Cubic Transportation Systems	$	4.2	$	5.7	$	1.7	$	2.6
Cubic Global Defense Systems		11.0		9.4		6.9		6.2
Cubic Global Defense Services		3.0		4.3		1.0		1.9
Corporate and other		0.8		0.7		0.4		0.4
Total depreciation and amortization	$	19.0	$	20.1	$	10.0	$	11.1

Unallocated corporate expenses include expense related to the development of our ERP system for costs that did not meet the requirements for capitalization of $6.9 million and $12.2 million for the three and six months ended March 31, 2016, respectively compared to $0.3 million and $1.9 million for the three and six months ended March 31, 2015, respectively.

Changes in estimates on contracts for which revenue is recognized using the cost-to-cost-percentage-of-completion method decreased operating income by $0.3 million and $2.4 million for the three and six months ended March 31, 2016, respectively, and had no impact on operating income for the three months ended March 31, 2015 and decreased operating income by $13.5 million for the six months ended March 31, 2015.

These adjustments decreased net income by $0.2 million ($0.01 per share) and $1.4 million ($0.05 per share) for the three and six months ended March 31, 2016, and had no impact on net income (loss) for the three months ended March 31, 2015 and increased net loss by $8.3 million ($0.31 per share) for the six months ended March 31, 2015, respectively.