SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Sep. 30, 2015

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of computation of basic and diluted EPS

Basic and diluted EPS are computed as follows (amounts in thousands, except per share data):

	Year Ended September 30,
	2015		2014		2013
Net income attributable to Cubic	$	22,885	$	69,491	$	25,086
Weighted average shares - basic	26,872		26,787		26,736
Effect of dilutive securities	66		58		24
Weighted average shares - diluted	26,938		26,845		26,760
Net income per share attributable to Cubic, basic	$	0.85	$	2.59	$	0.94
Effect of dilutive securities	—		—		—
Net income per share attributable to Cubic, diluted	$	0.85	$	2.59	$	0.94
Anti-dilutive employee share-based awards	—		—		—

Schedule of impact of correcting the errors (overstated) understated

The impact of correcting these errors (overstated) understated the following amounts in the quarter ended December 31, 2014 and the year ended September 30, 2015 (in thousands):

	Audit Committee
	Investigation
	Error		Other Errors			Total Errors
Net sales:
Products	$	747	$	517		$	1,264
Costs and expenses:
Products	—		138			138
Services	—		438			438
Selling, general and administrative	—		(1,385		)	(1,385		)
	—		(809		)	(809		)
Operating income	747		1,326			2,073
Income before income taxes	747		1,326			2,073
Income taxes	299		490			789
Net income attributable to Cubic	$	448	$	836		$	1,284