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Acquisition of Citizen Engagement Centers Business (Tables)
6 Months Ended
Mar. 31, 2019
Business Combinations [Abstract]  
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed At this time, we are in the process of finalizing our valuation of the acquired assets and assumed liabilities, including our analysis of the value of the intangible assets acquired and the tax effects of the acquisition. In addition, we continue to look for potential assets or liabilities which existed at the acquisition date. Our current estimate of the allocation of the purchase price, updated from December 31, 2018, is shown below.
(dollars in thousands)Estimated purchase price allocation at December 31, 2018AdjustmentsEstimated purchase price allocation at March 31, 2019
Estimated cash consideration$429,335 $1,238 $430,573 
Billed and unbilled receivables$145,319 $(3,450)$141,869 
Property and equipment6,454 — 6,454 
Other assets681 3,412 4,093 
Intangible assets122,300 — 122,300 
Total identifiable assets acquired274,754 (38)274,716 
Accounts payable and other liabilities33,296 (1,091)32,205 
Net identifiable assets acquired241,458 1,053 242,511 
Goodwill187,877 185 188,062 
Net assets acquired$429,335 $1,238 $430,573 
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination
(dollars in thousands)Useful lifeFair value
Customer relationships - all contracts except U.S. Census10 years$85,300 
Customer relationships - U.S. Census2 years37,000 
Total intangible assets$122,300 
Schedule of Business Acquisition, Pro Forma Information
 Pro forma results for the three months ended March 31,Pro forma results for the six months ended March 31,
(dollars in thousands, except per share amounts)2019 2018 2019 2018 
Revenue$736,520 $770,590 $1,499,568 $1,592,723 
Net income61,766 56,803 120,962 119,991 
Basic earnings per share attributable to MAXIMUS0.96 0.87 1.88 1.81 
Diluted earnings per share attributed to MAXIMUS0.96 0.86 1.87 1.80 
Schedule of the contribution of acquired business
The contribution of the acquired business for the three and six months ended March 31, 2019, is shown below.


Acquisition Contribution for
(dollars in thousands)Three Months Ended
March 31, 2019
Six Months Ended
March 31, 2019
Revenue$176,003 $277,266 
Gross profit32,672 51,620 
Schedule of Goodwill
Changes in goodwill for the six months ended March 31, 2019, were as follows:
(dollars in thousands)U.S. Health & Human ServicesU.S. Federal ServicesOutside the United StatesTotal
Balance as of September 30, 2018$139,588 $228,148 $32,146 $399,882 
Estimated effect of the acquisition of citizen engagement centers business20,071 165,498 2,493 188,062 
Foreign currency translation— — (193)(193)
Balance as of March 31, 2019$159,659 $393,646 $34,446 $587,751 
Schedule of Finite-Lived Intangible Assets
The following table sets forth the components of intangible assets (in thousands):
 As of March 31, 2019As of September 30, 2018
(dollars in thousands)CostAccumulated
Amortization
Intangible
Assets, net
CostAccumulated
Amortization
Intangible
Assets, net
Customer contracts and relationships$248,770 $54,838 $193,932 $129,113 $42,683 $86,430 
Technology based intangible assets5,648 4,267 1,381 5,750 4,212 1,538 
Trademarks and trade names4,480 4,439 41 4,496 4,429 67 
Total$258,898 $63,544 $195,354 $139,359 $51,324 $88,035 
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense The estimated future amortization expense for the remainder of the current fiscal year and the next five fiscal years for the intangible assets held by the Company as of March 31, 2019, is as follows (in thousands):
Six months ended September 30, 2019$18,044 
2020 35,307 
2021 18,258 
2022 15,884 
2023 15,785 
2024 15,662