Annual report pursuant to Section 13 and 15(d)

Business combinations (Tables)

v3.3.0.814
Business combinations (Tables)
12 Months Ended
Sep. 30, 2015
Acentia  
Business combinations  
Schedule of assets and liabilities recorded in the Company's financial statements at their fair values at the acquisition date

 

        We have completed the process of allocating the acquisition price to the fair value of the assets and liabilities of Acentia at the acquisition date with the exception of balances relating to current and deferred taxes (in thousands).

                                                                                                                                                                                    

 

 

 

Updated through
June 30, 2015

 

Adjustments

 

Updated through
September 30, 2015

 

Cash consideration, net of cash acquired

 

$

292,815

 

$

689

 

$

293,504

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Accounts receivable and unbilled receivables

 

$

35,060

 

$

273

 

$

35,333

 

Other current assets

 

 

5,151

 

 

(101

)

 

5,050

 

Property and equipment

 

 

1,619

 

 

521

 

 

2,140

 

Intangible assets—customer relationships

 

 

69,900

 

 

 

 

69,900

 

​  

​  

​  

​  

​  

​  

Total identifiable assets acquired

 

 

111,730

 

 

693

 

 

112,423

 

​  

​  

​  

​  

​  

​  

Accounts payable and other liabilities

 

 

32,619

 

 

(193

)

 

32,426

 

Deferred revenue

 

 

251

 

 

 

 

251

 

Capital lease obligations

 

 

 

 

567

 

 

567

 

​  

​  

​  

​  

​  

​  

Total liabilities assumed

 

 

32,870

 

 

374

 

 

33,244

 

​  

​  

​  

​  

​  

​  

Net identifiable assets acquired

 

 

78,860

 

 

319

 

 

79,179

 

Goodwill

 

 

213,955

 

 

370

 

 

214,325

 

​  

​  

​  

​  

​  

​  

Net assets acquired

 

$

292,815

 

$

689

 

$

293,504

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

 

Schedule of unaudited pro forma information

The pro forma results presented below include amortization charges for acquired intangible assets and adjustments to interest expense incurred and exclude related acquisition expenses (in thousands, except per share data).

 

                                                                                                                                                                                    

 

 

 

Unaudited
pro forma
results for the
year ended
September 30,

 

 

 

2015

 

2014

 

Revenue

 

$

2,203,347 

 

$

1,912,423 

 

Net income

 

 

165,822 

 

 

155,589 

 

Basic earnings per share attributable to MAXIMUS

 

$

2.48 

 

$

2.30 

 

Diluted earnings per share attributable to MAXIMUS

 

$

2.44 

 

$

2.25 

 

 

HML  
Business combinations  
Schedule of assets and liabilities recorded in the Company's financial statements at their fair values at the acquisition date

 

        The assets and liabilities of HML recorded in our financial statements at the acquisition date are summarized below (in thousands):

 

                                                                                                                                                                                    

 

 

 

HML balance sheet on
HML acquisition date

 

Cash consideration, net of cash acquired

 

$

71,435 

 

Stock consideration

 

 

6,425 

 

​  

​  

Purchase consideration, net of cash acquired

 

$

77,860 

 

​  

​  

​  

​  

Accounts receivable and unbilled receivables

 

$

7,671 

 

Other current assets

 

 

1,382 

 

Property and equipment

 

 

2,752 

 

Intangible assets

 

 

20,542 

 

​  

​  

Total identifiable assets acquired

 

 

32,347 

 

​  

​  

Accounts payable and other liabilities

 

 

6,228 

 

Deferred revenue

 

 

1,149 

 

Current income tax liability

 

 

756 

 

Deferred tax liability

 

 

4,701 

 

​  

​  

Total liabilities assumed

 

 

12,834 

 

​  

​  

Net identifiable assets acquired

 

 

19,513 

 

Goodwill

 

 

58,347 

 

​  

​  

Net assets acquired

 

$

77,860 

 

​  

​  

​  

​  

 

Summary of valuation of the intangible assets acquired

 

        The valuation of the intangible assets acquired is summarized below (in thousands).

                                                                                                                                                                                    

 

 

 

Useful life

 

Fair value

 

Customer relationships

 

20 years

 

$

19,933 

 

Technology-based intangible assets

 

2 years

 

 

609 

 

​  

​  

Total intangible assets

 

 

 

$

20,542 

 

​  

​  

​  

​  

 

DeltaWare  
Business combinations  
Summary of effect on the financial statements

 

        The effect on the financial statements is summarized below (in thousands):

                                                                                                                                                                                    

 

 

 

Contingent
consideration

 

Balance at September 30, 2014

 

$

358

 

Reduction in estimate

 

 

(302

)

Foreign currency translation

 

 

(56

)

​  

​  

Balance at September 30, 2015

 

$

 

​  

​  

​  

​