Acquisitions (Tables)

6 Months Ended

Mar. 31, 2016

Acquisitions

Schedule of changes in the carrying amount of goodwill

Changes in goodwill for the six months ended March 31, 2016 were as follows (in millions):

			Cubic Global		Cubic Global
	Transportation		Defense		Defense
	Systems		Systems		Services		Total
Balances at September 30, 2015	$	56.0	$	87.5	$	94.4	$	237.9
Acquisitions		—		173.6		—		173.6
Foreign currency exchange rate changes		(2.3)		0.2		—		(2.1)
Balances at March 31, 2016	$	53.7	$	261.3	$	94.4	$	409.4

Schedule of unaudited pro forma information

The following unaudited pro forma information presents our consolidated results of operations as if GATR, TeraLogics, H4 Global and DTECH had been included in our consolidated results since October 1, 2014 (in millions):

	Six Months Ended				Three Months Ended
	March 31,				March 31,
	2016		2015		2016		2015
Net sales	$	699.9	$	694.7	$	367.3	$	352.1
Net income attributable to Cubic	$	3.8	$	(6.3)	$	9.5	$	(12.4)

GATR

Acquisitions

Schedule of estimated fair values of the assets acquired and liabilities assumed at the acquisition date

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the acquisition date (in millions):

Customer relationships	$	51.7
Backlog		3.4
Technology		10.7
Non-compete agreements		1.2
Trade name		4.7
Accounts receivable		10.6
Inventory		3.4
Income tax receivable		5.5
Accounts payable and accrued expenses		(2.4)
Deferred tax liabilities		(22.2)
Other net assets acquired (liabilities assumed)		(0.1)
Net identifiable assets acquired		66.5
Goodwill		154.7
Net assets acquired	$	221.2

Schedule of estimated amortization expense related to acquisition

The estimated amortization expense related to the intangible assets recorded in connection with our acquisition of GATR for fiscal years 2016 through 2020 and thereafter is as follows (in millions):

Year Ended
September 30,
2016	$	9.7
2017		12.7
2018		11.1
2019		9.8
2020		8.3
Thereafter		20.1

TeraLogics

Acquisitions

Schedule of estimated fair values of the assets acquired and liabilities assumed at the acquisition date

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the acquisition date (in millions):

Customer relationships	$	6.7
Backlog		5.6
Software		2.5
Non compete agreements		0.1
Accounts receivable		1.4
Accounts payable and accrued expenses		(0.5)
Other net assets acquired (liabilities assumed)		(0.1)
Net identifiable assets acquired		15.7
Goodwill		18.2
Net assets acquired	$	33.9

Schedule of estimated amortization expense related to acquisition

The estimated amortization expense amounts related to the intangible assets recorded in connection with our acquisition of TeraLogics for fiscal years 2016 through 2020 and thereafter is as follows (in millions):

Year Ended
September 30,
2016	$	3.0
2017		3.5
2018		2.8
2019		2.1
2020		1.4
Thereafter		2.1

DTECH

Acquisitions

Schedule of estimated fair values of the assets acquired and liabilities assumed at the acquisition date

The following table summarizes the fair values of the assets acquired and liabilities assumed at the acquisition date (in millions):

Customer relationships	$	35.1
Non-compete agreements		0.7
Backlog		2.1
Cash		0.9
Accounts receivable		5.4
Inventory		4.2
Warranty obligation		(0.4)
Tax liabilities		(3.3)
Accounts payable and accrued expenses		(3.4)
Other net assets acquired		0.2
Net identifiable assets acquired		41.5
Goodwill		57.9
Net assets acquired	$	99.4

Schedule of estimated amortization expense related to acquisition

The estimated amortization expense amounts related to the intangible assets recorded in connection with our acquisition of DTECH for fiscal years 2016 through 2020 and thereafter is as follows (in millions):

Year Ended September 30,
2016	$	8.0
2017		6.8
2018		5.5
2019		4.1
2020		2.8
Thereafter		1.5