Source document: cubic-corp_2019

Question: What is Deltenna?
Facts: a wireless infrastructure company specializing in the design and delivery of radio and antenna communication solutions
Answer: a wireless infrastructure company specializing in the design and delivery of radio and antenna communication solutions

Question: What is the first step of the test for goodwill impairment?
Facts: comparing the fair value of each reporting unit to its carrying amount, including recorded goodwill
Answer: comparing the fair value of each reporting unit to its carrying amount, including recorded goodwill

Question: Which reporting units are analyzed by the company in their annual goodwill impairment test?
Facts: Cubic Global Defense; Cubic Mission Solutions; Cubic Transportation Systems
Answer: Cubic Transportation Systems; Cubic Mission Solutions; Cubic Global Defense

Question: In which business segment was the net balances at September 30, 2018 the largest?
Facts: Cubic Global Defense
Derivation: 145,713>138,127>49,786
Answer: Cubic Global Defense

Question: What is the difference between the amount of net balances at September 30, 2019 between Cubic Mission Solutions and Cubic Global Defense?
Facts: 142,081; 181,424
Derivation: 181,424-142,081
Answer: 39343 thousand

Question: What is the average of the amount of net balances at September 30, 2019 for Cubic Transportation Systems, Cubic Mission Solutions and Cubic Global Defense?
Facts: 142,081; 181,424; 254,592
Derivation: (254,592+181,424+142,081)/3
Answer: 192699 thousand

Question: What is the company paid on a cost-plus type contract?
Facts: 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
Answer: 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

Question: What is the amount of total sales in 2019?
Facts: $1,496.5
Answer: $1,496.5 million

Question: What are the contract types?
Facts: cost-plus type; fixed-price type; time-and-material type
Answer: fixed-price type; cost-plus type; time-and-material type

Question: In which year is the amount of total sales the largest?
Facts: 2019
Derivation: 1,496.5>1,202.9>1,107.7
Answer: 2019

Question: What is the change in Other in 2019 from 2018?
Facts: 44.1; 56.7
Derivation: 44.1-56.7
Answer: -12.6 million

Question: What is the percentage change in Other in 2019 from 2018?
Facts: 44.1; 56.7
Derivation: (44.1-56.7)/56.7
Answer: -22.22 percent

Question: What is the company's ongoing involvement limited to?
Facts: the remittance of customer payments to the financial institutions with respect to the sold trade receivables
Answer: the remittance of customer payments to the financial institutions with respect to the sold trade receivables

Question: What has the component of accounts receivable that consisted of unbilled contract receivables as reported under ASC 605 been reclassified to? 
Facts: contract assets under ASC 606
Answer: contract assets under ASC 606

Question: What types of accounts receivable are there?
Facts: Billed; Unbilled
Answer: Billed; Unbilled

Question: In which year was the billed accounts receivable larger?
Facts: 2018
Derivation: 156,948>127,406
Answer: 2018

Question: What is the sum of amounts billed due on U.S. federal government contracts in 2018 and 2019?
Facts: 60.3; 80.5
Derivation: 60.3+80.5
Answer: 140.8 million

Question: What is the average annual amount of current accounts receivable in 2018 and 2019?
Facts: 126,014; 392,367
Derivation: (126,014+392,367)/2
Answer: 259190.5 thousand

Question: What are the impacts of significant revisions in contract estimates?
Facts: materially affect our results of operations and cash flows, and in some cases result in liabilities to complete contracts in a loss position
Answer: materially affect our results of operations and cash flows, and in some cases result in liabilities to complete contracts in a loss position

Question: What could result in the 2019 operating income increasing or decreasing by approximately $6.5 million?
Facts: if underlying assumptions were to change such that our estimated profit rate at completion for all fixed-price contracts accounted for under the cost-to-cost percentage-of-completion method was higher or lower by one percentage point
Answer: if underlying assumptions were to change such that our estimated profit rate at completion for all fixed-price contracts accounted for under the cost-to-cost percentage-of-completion method was higher or lower by one percentage point

Question: For which periods is the aggregate impact of net changes in contract estimates presented in the table?
Facts: 2017; 2018; 2019
Answer: 2019; 2018; 2017

Question: In which year is the diluted earnings per share the lowest?
Facts: 2018
Derivation: 0.12>-0.08>-0.19
Answer: 2018

Question: What is the change in operating income (loss) in 2019 from 2018?
Facts: 2,235; 6,986
Derivation: -2,235-(-6,986)
Answer: 4751 thousand

Question: What is the average operating income (loss) across 2017, 2018 and 2019?
Facts: 2,235; 5,737; 6,986
Derivation: (-2,235+(-6,986)+5,737)/3
Answer: -1161.33 thousand

Question: What is the percentage change in CMS Adjusted EBITDA in 2019?
Facts: 31%
Answer: 31%

Question: What resulted in the improvement in operating results?
Facts: primarily from higher sales from expeditionary satellite communications products and secure networks products
Answer: primarily from higher sales from expeditionary satellite communications products and secure networks products

Question: For which year(s) is the amortization of purchased intangibles included in the CMS results recorded?
Facts: 2018; 2019
Answer: 2019; 2018

Question: In which year is the amortization of purchased intangibles included in the CMS results larger?
Facts: 2018
Derivation: 20.8>19.5
Answer: 2018

Question: What is the change in sales in 2019?
Facts: 207.0; 328.8
Derivation: 328.8-207.0
Answer: 121.8 million

Question: What is the average adjusted EBITDA in 2018 and 2019?
Facts: 26.2; 34.4
Derivation: (34.4+26.2)/2
Answer: 30.3 million

Question: What was the forfeiture rate estimated to be?
Facts: 12.5% per year as of September 30, 2019
Answer: 12.5% per year as of September 30, 2019

Question: What is total non-cash compensation expense related to stock-based awards in 2019?
Facts: $15,488
Answer: $15,488 thousand

Question: For which years is the amount of non-cash compensation expense related to stock-based awards recorded?
Facts: 2017; 2018; 2019
Answer: 2019; 2018; 2017

Question: In which year was the amount of cost of sales the largest?
Facts: 2019
Derivation: 1,766>1,096>338
Answer: 2019

Question: What is the change in cost of sales in 2019 from 2018?
Facts: 1,096; 1,766
Derivation: 1,766-1,096
Answer: 670 thousand

Question: What is the percentage change in cost of sales in 2019 from 2018?
Facts: 1,096; 1,766
Derivation: (1,766-1,096)/1,096
Answer: 61.13 percent

Question: What is the percentage increase in CMS sales in 2018?
Facts: 23%
Answer: 23%

Question: What is the decrease in amortization expense related to?
Facts: purchased intangible assets that are amortized based upon accelerated methods
Answer: purchased intangible assets that are amortized based upon accelerated methods

Question: What did the increase in expeditionary satellite communications products, tactical networking products, C2ISR products and services result in?
Facts: increase in sales; increased profits
Answer: increase in sales; increased profits

Question: In which year is the amount of amortization of purchased intangibles included in the CMS results larger?
Facts: 2017
Derivation: 23.6>20.8
Answer: 2017

Question: What is the change in sales in 2018?
Facts: 168.9; 207.0
Derivation: 207.0-168.9
Answer: 38.1 million

Question: What is the average adjusted EBITDA in 2018 and 2017?
Facts: 14.4; 26.2
Derivation: (26.2+14.4)/2
Answer: 20.3 million

Question: What did the restructuring charges incurred by the CTS and CGD segments in 2019 consist primarily of?
Facts: consisting primarily of employee severance costs related to headcount reductions initiated to optimize our cost positions
Answer: consisting primarily of employee severance costs related to headcount reductions initiated to optimize our cost positions

Question: What did the restructuring activities in 2017 include?
Facts: corporate efforts to increase the centralization and efficiency of our manufacturing processes, as well as restructuring charges incurred by our CGD businesses related to the elimination of a level of management in the CGD simulator business
Answer: corporate efforts to increase the centralization and efficiency of our manufacturing processes, as well as restructuring charges incurred by our CGD businesses related to the elimination of a level of management in the CGD simulator business

Question: What are the years included in the table?
Facts: 2017; 2018; 2019
Answer: 2019; 2018; 2017

Question: In which year was the restructuring costs incurred by Cubic Global Defense the lowest?
Facts: 2017
Derivation: 0.9<1.3<3.3
Answer: 2017

Question: What is the change in the amount of total restructuring costs in 2019 from 2018?
Facts: 15.4; 5.0
Derivation: 15.4-5.0
Answer: 10.4 million

Question: What is the percentage change in the amount of total restructuring costs in 2019 from 2018?
Facts: 15.4; 5.0
Derivation: (15.4-5.0)/5.0
Answer: 208 percent

Question: What does goodwill represent?
Facts: the purchase price paid in excess of the fair value of net tangible and intangible assets acquired
Answer: the purchase price paid in excess of the fair value of net tangible and intangible assets acquired

Question: How are estimates of fair value primarily determined?
Facts: using discounted cash flows and market multiples from publicly traded comparable companies
Answer: using discounted cash flows and market multiples from publicly traded comparable companies

Question: Which reporting units are considered under the goodwill balances in the table?
Facts: Cubic Global Defense; Cubic Mission Solutions; Cubic Transportation Systems
Answer: Cubic Transportation Systems; Cubic Mission Solutions; Cubic Global Defense

Question: In which year was the goodwill balance for  Cubic Transportation Systems the lowest?
Facts: 2018
Derivation: 49.8<50.9<254.6
Answer: 2018

Question: What is the change in the amount of total goodwill in 2019 from 2018?
Facts: 333.6; 578.1
Derivation: 578.1-333.6
Answer: 244.5 million

Question: What is the percentage change in the amount of total goodwill in 2019 from 2018?
Facts: 333.6; 578.1
Derivation: (578.1-333.6)/333.6
Answer: 73.29 percent

Question: What is the balance at end of year for 2019?
Facts: $18,575
Answer: $18,575 thousand

Question: What is the cash amount paid for income taxes, net of refunds received in 2019?
Facts: $28.7 million
Answer: $28.7 million

Question: In the table of aggregate changes in the total gross amount of unrecognized tax benefits, which items concern Additions?
Facts: Additions (reductions) for tax positions taken in prior years; Additions for tax positions related to the current year
Answer: Additions (reductions) for tax positions taken in prior years; Additions for tax positions related to the current year

Question: What is the total cash amounts paid for income taxes, net of refunds received in 2017, 2018 and 2019?
Facts: 1.6; 15.7; 28.7
Derivation: 28.7+15.7+1.6
Answer: 46 million

Question: What is the percentage change in additions for tax positions related to the current year in 2019 from 2018?
Facts: 713; 951
Derivation: (951-713)/713
Answer: 33.38 percent

Question: In which year was the amount of unrecognized tax benefits higher?
Facts: 2018
Derivation: 1.8>0.7
Answer: 2018

Question: Which markets does the company target?
Facts: markets that have the potential for above-average growth and profit margins where domain expertise, innovation, technical competency and contracting dynamics can help to create meaningful barriers to entry.
Answer: markets that have the potential for above-average growth and profit margins where domain expertise, innovation, technical competency and contracting dynamics can help to create meaningful barriers to entry.

Question: Where will the company strategically reinvest their cash?
Facts: in key program captures, internal research and development (R&D), and acquisitions to target priority markets and help ensure market leading positions to drive long-term shareholder return
Answer: in key program captures, internal research and development (R&D), and acquisitions to target priority markets and help ensure market leading positions to drive long-term shareholder return

Question: What are the types of company-sponsored R&D activities in the table?
Facts: Cubic Global Defense; Cubic Mission Solutions; Cubic Transportation Systems; Unallocated corporate expenses
Answer: Cubic Transportation Systems; Cubic Mission Solutions; Cubic Global Defense; Unallocated corporate expenses

Question: How many types of company-sponsored R&D activities are there in the table?
Facts: Cubic Global Defense; Cubic Mission Solutions; Cubic Transportation Systems; Unallocated corporate expenses
Derivation: Cubic Transportation Systems##Cubic Mission Solutions##Cubic Global Defense##Unallocated corporate expenses
Answer: 4

Question: What is the change in the total company-sponsored research and development expense in 2019 from 2018?
Facts: 50,132; 52,398
Derivation: 50,132-52,398
Answer: -2266 thousand

Question: What is the percentage change in Cubic Mission Solutions in 2019 from 2018?
Facts: 22,745; 27,111
Derivation: (27,111-22,745)/22,745
Answer: 19.2 percent

Question: Where is the restructuring liability included within?
Facts: accrued compensation and other current liabilities within our Consolidated Balance Sheet, (in millions)
Answer: accrued compensation and other current liabilities within our Consolidated Balance Sheet, (in millions)

Question: What is the  Balance as of October 1, 2017 for Restructuring Liability Employee Separation and other?
Facts: $ 1.0
Answer: $ 1.0 million

Question: Which elements of restructuring liability are considered in the table?
Facts: Consulting Costs; Employee Separation and other
Answer: Employee Separation and other; Consulting Costs

Question: What is the change in balance as of September 30, 2019 from September 30, 2018 for Restructuring Liability Consulting Costs?
Facts: 0.3; 0.8
Derivation: 0.8-0.3
Answer: 0.5 million

Question: What is the change in balance as of September 30, 2019 from September 30, 2018 for Restructuring Liability Employee Separation and other?
Facts: 0.6; 2.0
Derivation: 2.0-0.6
Answer: 1.4 million

Question: What is the percentage change in balance as of September 30, 2019 from September 30, 2018 for Restructuring Liability Consulting Costs?
Facts: 0.3; 0.8
Derivation: (0.8-0.3)/0.3
Answer: 166.67 percent

Question: What is the change in total backlog in 2019?
Facts: decreased $663.5 million
Answer: decreased $663.5 million

Question: What led to the decrease in backlog?
Facts: impact of the adoption of ASC 606; primarily due to progression of work in 2019 on four large contracts awarded to CTS in fiscal 2018
Answer: primarily due to progression of work in 2019 on four large contracts awarded to CTS in fiscal 2018; impact of the adoption of ASC 606

Question: What are the segments under Total Backlog in the table?
Facts: Cubic Global Defense; Cubic Mission Solutions; Cubic Transportation Systems
Answer: Cubic Transportation Systems; Cubic Mission Solutions; Cubic Global Defense

Question: How many segments are there under Total Backlog?
Facts: Cubic Global Defense; Cubic Mission Solutions; Cubic Transportation Systems
Derivation: Cubic Transportation Systems##Cubic Mission Solutions##Cubic Global Defense
Answer: 3

Question: What is the change in the backlog for Cubic Mission Solutions in 2019?
Facts: 103.7; 77
Derivation: 103.7-77
Answer: 26.7 million

Question: What is the percentage change in the backlog for Cubic Mission Solutions in 2019?
Facts: 103.7; 77
Derivation: (103.7-77)/77
Answer: 34.68 percent

Question: What is the maturity of long-term debt for 2021?
Facts: $35.7 million
Answer: $35.7 million

Question: What are the different series of senior unsecured notes payable to a group of insurance companies?
Facts: Series A; Series B; Series C; Series D
Answer: Series A; Series B; Series C; Series D

Question: What are the different interest rates for the different senior unsecured notes payable to a group of insurance companies?
Facts: 3.35%; 3.70%; 3.93%
Answer: 3.35%; 3.70%; 3.93%

Question: Which series of senior unsecured notes payable to a group of insurance companies is fixed at the largest interest rate?
Facts: Series D
Derivation: 3.93%>3.70%>3.35%
Answer: Series D

Question: What is the change in the total amount of long-term debt in 2019 from 2018?
Facts: 189,111; 199,793
Derivation: 189,111-199,793
Answer: -10682 thousand

Question: What is the percentage change in the total amount of long-term debt in 2019 from 2018?
Facts: 189,111; 199,793
Derivation: (189,111-199,793)/199,793
Answer: -5.35 percent

Question: The Securities and Exchange Commission issued guidance in SAB 118 provided what form of clarification?
Facts: the accounting for income taxes under ASC 740 if certain information was not yet available, prepared or analyzed in reasonable detail to complete the accounting for income tax effects of the Tax Act
Answer: the accounting for income taxes under ASC 740 if certain information was not yet available, prepared or analyzed in reasonable detail to complete the accounting for income tax effects of the Tax Act

Question: How may the determination of the Tax Act's income tax effects change?
Facts: following future legislation or further interpretation of the Tax Act based on the publication of recently proposed U.S. Treasury regulations and guidance from the Internal Revenue Service and state tax authorities
Answer: following future legislation or further interpretation of the Tax Act based on the publication of recently proposed U.S. Treasury regulations and guidance from the Internal Revenue Service and state tax authorities

Question: What are the components recorded under income (loss) from continuing operations before income taxes?
Facts: Foreign; United States
Answer: United States; Foreign

Question: In which year was the amount under Foreign the smallest?
Facts: 2019
Derivation: 52,881<59,484<65,935
Answer: 2019

Question: What is the change in the amount under Foreign in 2019 from 2018?
Facts: 52,881; 65,935
Derivation: 52,881-65,935
Answer: -13054 thousand

Question: What is the percentage change in the amount under Foreign in 2019 from 2018?
Facts: 52,881; 65,935
Derivation: (52,881-65,935)/65,935
Answer: -19.8 percent

Question: How does the company disaggregate its sales from contracts with customers?
Facts: by end customer, contract type, deliverable type and revenue recognition method for each of our segments
Answer: by end customer, contract type, deliverable type and revenue recognition method for each of our segments

Question: What is the amount of total sales in 2017?
Facts: $1,107.7
Answer: $1,107.7 million

Question: What are the different geographic regions in the table?
Facts: Australia; Far East/Middle East; Other; United Kingdom; United States
Answer: United States; United Kingdom; Australia; Far East/Middle East; Other

Question: In which year was the amount of sales in Other the largest?
Facts: 2019
Derivation: 84.2>81.3>77.2
Answer: 2019

Question: What is the change in the amount of Other in 2019 from 2018?
Facts: 81.3; 84.2
Derivation: 84.2-81.3
Answer: 2.9 million

Question: What is the percentage change in the amount of Other in 2019 from 2018?
Facts: 81.3; 84.2
Derivation: (84.2-81.3)/81.3
Answer: 3.57 percent

Question: What does the table show?
Facts: reconciliation of income tax computed at the U.S. federal statutory tax rate to income tax expense
Answer: reconciliation of income tax computed at the U.S. federal statutory tax rate to income tax expense

Question: What is the Tax expense at U.S. statutory rate for 2019?
Facts: $ 10,992
Answer: $ 10,992 thousand

Question: For which years was the reconciliation of income tax computed at the U.S. federal statutory tax rate to income tax expense provided?
Facts: 2017; 2018; 2019
Answer: 2019; 2018; 2017

Question: In which year was the provision for income taxes the largest?
Facts: 2017
Derivation: 14,658>11,040>7,093
Answer: 2017

Question: What is the change in nondeductible expenses in 2019 from 2018?
Facts: 1,186; 1,720
Derivation: 1,720-1,186
Answer: 534 thousand

Question: What is the percentage change in nondeductible expenses in 2019 from 2018?
Facts: 1,186; 1,720
Derivation: (1,720-1,186)/1,186
Answer: 45.03 percent

Question: What do the costs incurred in the development of internal-use software and software applications include?
Facts: external direct costs of materials and services and applicable compensation costs of employees devoted to specific software development
Answer: external direct costs of materials and services and applicable compensation costs of employees devoted to specific software development

Question: What is the amount that was capitalized in 2017 for qualifying software development costs as internal-use software development in progress?
Facts: $16.7 million
Answer: $16.7 million

Question: In which years were the incurred costs related to the purchase and development of the ERP system recorded?
Facts: 2017; 2018; 2019
Answer: 2019; 2018; 2017

Question: In which year was the total amount of property, plant and equipment larger?
Facts: 2019
Derivation: 144,969>117,546
Answer: 2019

Question: What is the change in leasehold improvements from 2018 to 2019?
Facts: 11,991; 17,064
Derivation: 17,064-11,991
Answer: 5073 thousand

Question: What is the percentage change in leasehold improvements from 2018 to 2019?
Facts: 11,991; 17,064
Derivation: (17,064-11,991)/11,991
Answer: 42.31 percent

Question: What is the percentage change in CGD sales in 2018?
Facts: decreased 10%
Answer: decreased 10%

Question: What is the increase in R&D expenditures indicative of?
Facts: the acceleration of our development of next generation live, virtual, constructive, and game-based training systems
Answer: the acceleration of our development of next generation live, virtual, constructive, and game-based training systems

Question: For which years is the amortization of purchased intangibles included in the CGD results recorded?
Facts: 2017; 2018
Answer: 2018; 2017

Question: In which year is the amortization of purchased intangibles included in the CGD results larger?
Facts: 2018
Derivation: 1.1>0.9
Answer: 2018

Question: What is the change in operating income from 2017 to 2018?
Facts: 16.6; 28.1
Derivation: 16.6-28.1
Answer: -11.5 million

Question: What is the average adjusted EBITDA in 2017 and 2018?
Facts: 26.3; 39.4
Derivation: (26.3+39.4)/2
Answer: 32.85 million

Question: How was the loss within discontinued operations in 2018 calculated?
Facts: the excess of the carrying value of the net assets of CGD Services less the estimated sales price in the stock purchase agreement less estimated selling costs
Answer: the excess of the carrying value of the net assets of CGD Services less the estimated sales price in the stock purchase agreement less estimated selling costs

Question: What is the eligibility to receive an additional cash payment of $3.0 million based on?
Facts: the achievement of pre-determined earn-out conditions related to the award of certain government contracts
Answer: the achievement of pre-determined earn-out conditions related to the award of certain government contracts

Question: What are the components under Costs and Expenses?
Facts: Amortization of purchased intangibles; Cost of sales; Other income; Restructuring costs; Selling, general and administrative expenses
Answer: Cost of sales; Selling, general and administrative expenses; Amortization of purchased intangibles; Restructuring costs; Other income

Question: How many components are there under Costs and Expenses?
Facts: Amortization of purchased intangibles; Cost of sales; Other income; Restructuring costs; Selling, general and administrative expenses
Derivation: Cost of sales##Selling, general and administrative expenses##Amortization of purchased intangibles##Restructuring costs##Other income
Answer: 5

Question: What is the change in net sales in 2018 from 2017?
Facts: 262,228; 378,152
Derivation: 262,228-378,152
Answer: -115924 thousand

Question: What is the percentage change in net sales in 2018 from 2017?
Facts: 262,228; 378,152
Derivation: (262,228-378,152)/378,152
Answer: -30.66 percent

Question: How is basic net income (loss) per share (EPS) computed?
Facts: by dividing the net income (loss) attributable to Cubic for the period by the weighted average number of common shares outstanding during the period, including vested RSUs
Answer: by dividing the net income (loss) attributable to Cubic for the period by the weighted average number of common shares outstanding during the period, including vested RSUs

Question: How are dilutive RSUs calculated?
Facts: based on the average share price for each fiscal period using the treasury stock method
Answer: based on the average share price for each fiscal period using the treasury stock method

Question: For which years was the weighted-average number of shares outstanding used to compute net income (loss) per common share recorded?
Facts: 2017; 2018; 2019
Answer: 2019; 2018; 2017

Question: Which year has the largest amount for the effect of dilutive securities?
Facts: 2018
Derivation: 122>111
Answer: 2018

Question: What is the change in weighted average shares - basic in 2019 from 2018?
Facts: 27,229; 30,495
Derivation: 30,495-27,229
Answer: 3266 thousand

Question: What is the percentage change in weighted average shares - basic in 2019 from 2018?
Facts: 27,229; 30,495
Derivation: (30,495-27,229)/27,229
Answer: 11.99 percent

Question: For the Adjusted EBITDA, where can the reconciliation of GAAP to non-GAAP financial measures tables be found?
Facts: Management’s Discussion and Analysis of Financial Condition and Results of Operations in the Form 10-K
Answer: Management’s Discussion and Analysis of Financial Condition and Results of Operations in the Form 10-K

Question: What is the cash dividend per share in 2019?
Facts: $0.27
Answer: $0.27

Question: What are the periods highlighted in the table?
Facts: 2017; 2018; 2019
Answer: 2019; 2018; 2017

Question: In which year is the adjusted earnings per share growth % larger?
Facts: 2019
Derivation: 43%>35%
Answer: 2019

Question: What is the change in the adjusted EBITDA growth % from 2018 to 2019?
Facts: 20; 40
Derivation: 40%-20%
Answer: 20 percent

Question: What is the percentage change in adjusted EBITDA in 2019 from 2018?
Facts: 104,561; 146,594
Derivation: (146,594-104,561)/104,561
Answer: 40.2 percent

Question: What does the table represent?
Facts: assets and liabilities of OpCo that are included in our Consolidated Balance Sheets at September 30, 2019 and 2018
Answer: assets and liabilities of OpCo that are included in our Consolidated Balance Sheets at September 30, 2019 and 2018

Question: What will Cubic's outstanding letter of credit be converted to?
Facts: a cash contribution upon completion of the design and build phase of the MBTA Contract
Answer: a cash contribution upon completion of the design and build phase of the MBTA Contract

Question: What are the items under Total assets?
Facts: Cash; Long-term capitalized contract costs; Long-term contracts financing receivable; Other current assets; Other noncurrent assets; Restricted cash
Answer: Cash; Restricted cash; Other current assets; Long-term capitalized contract costs; Long-term contracts financing receivable; Other noncurrent assets

Question: In which year is the amount of Cash larger?
Facts: 2018
Derivation: 374>347
Answer: 2018

Question: What is the change in total assets from 2018 to 2019?
Facts: 127,274; 45,002
Derivation: 127,274-45,002
Answer: 82272 thousand

Question: What is the percentage change in cash?
Facts: 347; 374
Derivation: (347-374)/374
Answer: -7.22 percent

Question: What is the percentage increase in CTS sales in 2018?
Facts: 16%
Answer: 16%

Question: What resulted in a higher operating income?
Facts: increased volumes of system development work and services, including work on new projects and change orders, primarily in North America and the U.K. Operating income was also higher due to operational efficiencies and reductions in R&D spending
Answer: increased volumes of system development work and services, including work on new projects and change orders, primarily in North America and the U.K. Operating income was also higher due to operational efficiencies and reductions in R&D spending

Question: What is the Sales for 2018?
Facts: $ 670.7
Answer: $ 670.7 million

Question: In which year was the amortization of purchased intangibles included in the CTS operating results lower?
Facts: 2018
Derivation: 5.2<5.7
Answer: 2018

Question: What is the change in CTS adjusted EBITDA?
Facts: 48.8; 73.3
Derivation: 73.3-48.8
Answer: 24.5 million

Question: What is the average operating income in 2017 and 2018?
Facts: 39.8; 60.4
Derivation: (60.4+39.8)/2
Answer: 50.1 million

Question: How are the deferred tax assets and liabilities calculated?
Facts: based on differences between financial reporting and tax bases of assets and liabilities and measure them using the enacted tax rates and laws that we expect will be in effect when the differences reverse
Answer: based on differences between financial reporting and tax bases of assets and liabilities and measure them using the enacted tax rates and laws that we expect will be in effect when the differences reverse

Question: What does the total change in deferred tax assets and liabilities in 2019 include?
Facts: changes that are recorded to other comprehensive income (loss), retained earnings and goodwill
Answer: changes that are recorded to other comprehensive income (loss), retained earnings and goodwill

Question: What are the items under deferred tax liabilities?
Facts: Debt obligation basis difference; Deferred revenue; Intangible assets; Other; Property, plant and equipment; Unremitted earnings
Answer: Debt obligation basis difference; Deferred revenue; Intangible assets; Property, plant and equipment; Unremitted earnings; Other

Question: How many items are there under deferred tax liabilities?
Facts: Debt obligation basis difference; Deferred revenue; Intangible assets; Other; Property, plant and equipment; Unremitted earnings
Derivation: Debt obligation basis difference##Deferred revenue##Intangible assets##Property, plant and equipment##Unremitted earnings##Other
Answer: 6

Question: What is the change in the amount of prepaid and accrued expenses from 2018 to 2019?
Facts: 1,229; 1,816
Derivation: 1,816-1,229
Answer: 587 thousand

Question: What is the percentage change in the amount of prepaid and accrued expenses from 2018 to 2019?
Facts: 1,229; 1,816
Derivation: (1,816-1,229)/1,229
Answer: 47.76 percent

Question: What is the amount of finished products in 2019?
Facts: $10,905
Answer: $10,905 thousand

Question: What do the costs incurred for certain U.S. federal government contracts include?
Facts: general and administrative costs as allowed by government cost accounting standards
Answer: general and administrative costs as allowed by government cost accounting standards

Question: What are the components that make up the net inventories?
Facts: Customer advances; Finished products; Materials and purchased parts; Work in process and inventoried costs under long-term contracts
Answer: Finished products; Work in process and inventoried costs under long-term contracts; Materials and purchased parts; Customer advances

Question: In which year is the value of finished products higher?
Facts: 2019
Derivation: 10,905>7,099
Answer: 2019

Question: What is the change in materials and purchased parts from 2018 to 2019?
Facts: 23,710; 48,938
Derivation: 48,938-23,710
Answer: 25228 thousand

Question: What is the percentage change in net inventories from 2018 to 2019?
Facts: 106,794; 84,199
Derivation: (106,794-84,199)/84,199
Answer: 26.84 percent

Question: What is the percentage increase in CGD operating income in 2019?
Facts: 39%
Answer: 39%

Question: What resulted in the improvement in operating profits?
Facts: increased sales of ground combat training system sales; primarily due to the results of cost reduction efforts, including headcount reductions designed to optimize our cost position, and reduced R&D expenditures
Answer: primarily due to the results of cost reduction efforts, including headcount reductions designed to optimize our cost position, and reduced R&D expenditures; increased sales of ground combat training system sales

Question: For which fiscal year(s) is the amount of amortization of purchased intangibles included in the CGD results recorded?
Facts: 2018; 2019
Answer: 2019; 2018

Question: In which year was the amount of amortization of purchased intangibles included in the CGD results larger?
Facts: 2018
Derivation: 0.6<1.1
Answer: 2018

Question: What is the change in the amount of sales from 2018 to 2019?
Facts: 317.9; 325.2
Derivation: 317.9-325.2
Answer: -7.3 million

Question: What is the average amount of adjusted EBITDA in 2018 and 2019?
Facts: 26.3; 32.8
Derivation: (32.8+26.3)/2
Answer: 29.55 million

Question: What does the long-term rate of return assumption represent?
Facts: the expected average rate of earnings on the funds invested or to be invested to provide for the benefits included in the benefit obligations
Answer: the expected average rate of earnings on the funds invested or to be invested to provide for the benefits included in the benefit obligations

Question: How is the long-term rate of return assumption determined?
Facts: based on a number of factors, including historical market index returns, the anticipated long-term asset allocation of the plans, historical plan return data, plan expenses, and the potential to outperform market index returns
Answer: based on a number of factors, including historical market index returns, the anticipated long-term asset allocation of the plans, historical plan return data, plan expenses, and the potential to outperform market index returns

Question: What are the components under the Weighted-average assumptions used to determine benefit obligation at September 30?
Facts: Discount rate; Rate of compensation increase
Answer: Discount rate; Rate of compensation increase

Question: For the weighted-average assumptions used to determine benefit obligation at September 30, which year has the largest rate of compensation increase?
Facts: 2018
Derivation: 3.3%>3.2%>3.1%
Answer: 2018

Question: For the weighted-average assumptions used to determine benefit obligation at September 30, what is the change in the discount rate in 2019 from 2018?
Facts: 2.5; 3.6
Derivation: 2.5%-3.6%
Answer: -1.1 percent

Question: For the weighted-average assumptions used to determine benefit obligation at September 30, what is the average discount rate across 2017, 2018 and 2019?
Facts: 2.5; 3; 3.3; 3.6
Derivation: (2.5%+3.6%+3.3%)/3
Answer: 3.13 percent