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Business and summary of significant accounting policies (Tables)

12 Months Ended

Sep. 30, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of New Accounting Pronouncements and Changes in Accounting Principles

The adoption of Topic 606 resulted in the following changes to our opening balance sheet:

(dollars in thousands)						Balance at September 30, 2018						Adjustments due to adoption of new standard						Opening balance at October 1, 2018
Assets
Accounts receivable - unbilled						$	31,536					$	35,414					$	66,950
Deferred income taxes						6,834						(6,625)						209
Liabilities and shareholders' equity
Deferred revenue - current						51,182						(11,767)						39,415
Deferred income taxes - long-term						26,377						7,074						33,451
Retained earnings						633,281						32,929						666,210
Noncontrolling interests						2,552						553						3,105

The table below shows the effects of the adoption of Topic 606 on our consolidated statements of operations for the year ended September 30, 2019.

						Twelve months ended September 30, 2019
(dollars in thousands, except per share data)						Balance under previous accounting guidance						Adjustments due to adoption of new standard						Balance as reported
Revenue						$	2,883,697					$	3,118					$	2,886,815
Income before income taxes						314,202						3,118						317,320
Provision for income taxes						75,539						1,286						76,825
Net income						238,663						1,832						240,495
(Loss)/income attributable to noncontrolling interests						(977)						648						(329)
Net income attributable to MAXIMUS						$	239,640					$	1,184					$	240,824
Basic earnings per share attributable to MAXIMUS						$	3.72					$	0.01					$	3.73
Diluted earnings per share attributable to MAXIMUS						$	3.70					$	0.02					$	3.72

The effect on our balance sheet would have been as follows:

(dollars in thousands)						Balance at September 30, 2019 under previous accounting guidance						Adjustments due to adoption of new standard						Balance at September 30, 2019 as reported
Assets
Accounts receivable - unbilled						$	88,390					$	35,494					$	123,884
Deferred income taxes						8,065						(7,879)						186
Liabilities and shareholders' equity
Deferred revenue - current						54,834						(11,490)						43,344
Deferred income taxes - long-term						41,055						5,505						46,560
Common stock						497,232						1,201						498,433
Accumulated other comprehensive loss						(43,018)						(2,362)						(45,380)
Retained earnings						759,978						34,761						794,739

Schedule of Cash and Cash Equivalents

Our balances for cash, cash equivalents and restricted cash are as follows:

						Balance as of
(dollars in thousands)						September 30, 2019						September 30, 2018						September 30, 2017						September 30, 2016
Cash and cash equivalents						$	105,565					$	349,245					$	166,252					$	66,199
Restricted cash (recorded within "other current assets")						10,927						7,314						13,475						14,094
Cash, cash equivalents and restricted cash						$	116,492					$	356,559					$	179,727					$	80,293

Restrictions on Cash and Cash Equivalents

Our balances for cash, cash equivalents and restricted cash are as follows:

						Balance as of
(dollars in thousands)						September 30, 2019						September 30, 2018						September 30, 2017						September 30, 2016
Cash and cash equivalents						$	105,565					$	349,245					$	166,252					$	66,199
Restricted cash (recorded within "other current assets")						10,927						7,314						13,475						14,094
Cash, cash equivalents and restricted cash						$	116,492					$	356,559					$	179,727					$	80,293

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