Business Segment Information (Tables)

12 Months Ended

Sep. 30, 2019

Business Segment Information

Schedule of business segment financial data

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

	Years Ended September 30,
	2019		2018		2017
Sales:
Cubic Transportation Systems	$	849.8	$	670.7	$	578.6
Cubic Mission Solutions		328.8		207.0		168.9
Cubic Global Defense		317.9		325.2		360.2
Total sales	$	1,496.5	$	1,202.9	$	1,107.7
Operating income (loss):
Cubic Transportation Systems	$	77.2	$	60.4	$	39.8
Cubic Mission Solutions		7.8		(0.1)		(9.3)
Cubic Global Defense		23.0		16.6		28.1
Unallocated corporate expenses		(21.8)		(52.5)		(56.0)
Total operating income	$	86.2	$	24.4	$	2.6
Assets:
Cubic Transportation Systems	$	825.8	$	390.2	$	335.1
Cubic Mission Solutions		437.9		352.9		390.5
Cubic Global Defense		394.2		360.1		280.1
Corporate		189.3		201.7		156.4
Discontinued Operations		—		—		174.2
Total assets	$	1,847.2	$	1,304.9	$	1,336.3
Depreciation and amortization:
Cubic Transportation Systems	$	30.7	$	12.0	$	8.8
Cubic Mission Solutions		23.3		22.4		23.8
Cubic Global Defense		6.8		8.5		10.4
Corporate		3.9		3.7		5.0
Total depreciation and amortization	$	64.7	$	46.6	$	48.0
Capital expenditures:
Cubic Transportation Systems	$	6.6	$	3.2	$	6.9
Cubic Mission Solutions		11.1		2.1		1.7
Cubic Global Defense		4.5		9.4		5.9
Corporate		26.9		17.0		22.4
Total expenditures for long-lived assets	$	49.1	$	31.7	$	36.9

Schedule of long-lived assets by country

Years ended September 30,	2019		2018		2017
Long-lived assets, net:
United States	$	128.4	$	106.7	$	100.6
United Kingdom		5.9		5.7		11.7
Other foreign countries		10.7		12.0		7.3
Total long-lived assets, net	$	145.0	$	124.4	$	119.6

Schedule of Disaggregation of Total Net Sales

Disaggregation of Total Net Sales: We disaggregate our sales from contracts with customers by end customer, contract type, deliverable type and revenue recognition method for each of our segments, as we believe these factors affect the nature, amount, timing, and uncertainty of our revenue and cash flows.

Sales by Geographic Region (in millions):

	Years Ended September 30,
	2019		2018		2017
United States	$	956.6	$	627.8	$	522.8
United Kingdom		218.2		240.7		219.4
Australia		163.5		166.7		175.6
Far East/Middle East		74.0		86.4		112.7
Other		84.2		81.3		77.2
Total sales	$	1,496.5	$	1,202.9	$	1,107.7

Sales by End Customer:  We are the prime contractor for the vast majority of our sales. The table below presents total net sales disaggregated by end customer (in millions):

	Years Ended September 30,
	2019		2018		2017
U.S. Federal Government and State and Local Municipalities	$	938.8	$	639.5	$	522.6
Other		557.7		563.4		585.1
Total sales	$	1,496.5	$	1,202.9	$	1,107.7

Sales by Contract Type: Substantially all of our contracts are fixed-price type contracts. Sales included in Other contract types represent cost plus and time and material type contracts.

On a fixed-price type contract, we agree to perform the contractual statement of work for a predetermined sales price. On a cost-plus type contract, we are paid our allowable incurred costs plus a profit which can be fixed or variable depending on the contract’s fee arrangement up to predetermined funding levels determined by the customer. On a time-and-material type contract, we are paid on the basis of direct labor hours expended at specified fixed-price hourly rates (that include wages, overhead, allowable general and administrative expenses and profit) and materials at cost. The table below presents total net sales disaggregated by contract type (in millions):

	Years Ended September 30,
	2019		2018		2017
Fixed Price	$	1,452.4	$	1,146.2	$	1,036.9
Other		44.1		56.7		70.8
Total sales	$	1,496.5	$	1,202.9	$	1,107.7

Sales by Deliverable Type: The table below presents total net sales disaggregated by the type of deliverable, which is determined by us at the performance obligation level (in millions):

	Years Ended September 30,
	2019		2018		2017
Product	$	1,011.1	$	704.9	$	681.6
Service		485.4		498.0		426.1
Total sales	$	1,496.5	$	1,202.9	$	1,107.7

Revenue Recognition Method: The table below presents total net sales disaggregated based on the revenue recognition method applied (in millions):

	September 30,
	2019
Point in Time	$	347.4
Over Time		1,149.1
Total sales	$	1,496.5