XML 60 R41.htm IDEA: XBRL DOCUMENT v3.19.1
Implementation of the New Revenue Recognition Standard - Effect on Statement of Operations (Details) - USD ($)
$ / shares in Units, $ in Thousands
3 Months Ended 6 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Mar. 31, 2019
Mar. 31, 2018
Net sales:        
Net sales $ 337,339 $ 278,586 $ 642,598 $ 526,977
Costs and expenses:        
Selling, general and administrative expenses 66,195 63,773 129,181 125,453
Research and development 13,754 14,202 25,766 26,179
Amortization of purchased intangibles 12,395 6,484 22,960 13,835
Restructuring costs 1,757 256 3,749 1,751
Total costs and expenses 343,880 280,265 649,705 540,558
Operating loss (6,541) (1,679) (7,107) (13,581)
Other income (expenses):        
Interest and dividend income 1,413 625 2,647 1,107
Interest expense (4,531) (2,911) (8,563) (5,585)
Other income (expense), net (3,602) 2,028 (8,355) 1,950
Loss from continuing operations before income taxes (13,261) (1,937) (21,378) (16,109)
Income tax (benefit) provision (3,831) 1,409 (1,334) (1,328)
Net income (loss) from continuing operations (9,430) (3,346) (20,044) (14,781)
Net loss from discontinued operations (1,339) 1,335 (1,339) 2,984
Net loss (10,769) (2,011) (21,383) (11,797)
Less noncontrolling interest in loss of VIE (1,377)   (5,404)  
Net loss attributable to Cubic (9,392) (2,011) (15,979) (11,797)
Amounts attributable to Cubic:        
Net loss from continuing operations (8,053) (3,346) (14,640) (14,781)
Net loss from discontinued operations (1,339) 1,335 (1,339) 2,984
Net loss attributable to Cubic $ (9,392) $ (2,011) $ (15,979) $ (11,797)
Basic        
Basic earnings per share attributable to Cubic (in dollars per share) $ (0.30) $ (0.07) $ (0.54) $ (0.43)
Diluted        
Diluted earnings per share attributable to Cubic (in dollars per share) $ (0.30) $ (0.07) $ (0.54) $ (0.43)
ASC 605 | ASU 2014-09        
Net sales:        
Net sales $ 309,635   $ 586,459  
Costs and expenses:        
Selling, general and administrative expenses 66,295   129,118  
Research and development 13,754   25,766  
Amortization of purchased intangibles 12,395   22,960  
Restructuring costs 1,757   3,749  
Total costs and expenses 321,569   602,290  
Operating loss (11,934)   (15,831)  
Other income (expenses):        
Interest and dividend income 74   130  
Interest expense (4,531)   (8,563)  
Other income (expense), net (3,602)   (8,355)  
Loss from continuing operations before income taxes (19,993)   (32,619)  
Income tax (benefit) provision (4,053)   (1,580)  
Net income (loss) from continuing operations (15,940)   (31,039)  
Net loss from discontinued operations (1,339)   (1,339)  
Net loss (17,279)   (32,378)  
Less noncontrolling interest in loss of VIE (3,885)   (9,866)  
Net loss attributable to Cubic (13,394)   (22,512)  
Amounts attributable to Cubic:        
Net loss from continuing operations (12,055)   (21,173)  
Net loss from discontinued operations (1,339)   (1,339)  
Net loss attributable to Cubic $ (13,394)   $ (22,512)  
Basic        
Basic earnings per share attributable to Cubic (in dollars per share) $ (0.43)   $ (0.75)  
Diluted        
Diluted earnings per share attributable to Cubic (in dollars per share) $ (0.43)   $ (0.75)  
ASC 606 | ASU 2014-09        
Net sales:        
Net sales $ 27,704   $ 56,139  
Costs and expenses:        
Selling, general and administrative expenses (100)   63  
Total costs and expenses 22,311   47,415  
Operating loss 5,393   8,724  
Other income (expenses):        
Interest and dividend income 1,339   2,517  
Loss from continuing operations before income taxes 6,732   11,241  
Income tax (benefit) provision 222   246  
Net income (loss) from continuing operations 6,510   10,995  
Net loss 6,510   10,995  
Less noncontrolling interest in loss of VIE 2,508   4,462  
Net loss attributable to Cubic 4,002   6,533  
Amounts attributable to Cubic:        
Net loss from continuing operations 4,002   6,533  
Net loss attributable to Cubic $ 4,002   $ 6,533  
Basic        
Basic earnings per share attributable to Cubic (in dollars per share) $ 0.13   $ 0.22  
Diluted        
Diluted earnings per share attributable to Cubic (in dollars per share) $ 0.13   $ 0.22  
Products        
Net sales:        
Net sales $ 222,744 $ 157,445 $ 404,997 $ 289,188
Costs and expenses:        
Costs 167,567 117,093 293,052 208,666
Products | ASC 605 | ASU 2014-09        
Net sales:        
Net sales 195,588   348,150  
Costs and expenses:        
Costs 145,156   245,700  
Products | ASC 606 | ASU 2014-09        
Net sales:        
Net sales 27,156   56,847  
Costs and expenses:        
Costs 22,411   47,352  
Services        
Net sales:        
Net sales 114,595 121,141 237,601 237,789
Costs and expenses:        
Costs 82,212 $ 78,457 174,997 $ 164,674
Services | ASC 605 | ASU 2014-09        
Net sales:        
Net sales 114,047   238,309  
Costs and expenses:        
Costs 82,212   174,997  
Services | ASC 606 | ASU 2014-09        
Net sales:        
Net sales $ 548   $ (708)