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Organization and Basis of Presentation (Tables) | 9 Months Ended
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Jun. 30, 2019
Accounting Standards Update 2014-09 |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] |
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 statement of operations for the three and nine months ended June 30, 2019.
|  | Three months ended June 30, 2019 |  |  |  |  |  | Nine months ended June 30, 2019 |  |  |  |
(dollars in thousands) |  | Balance under previous accounting guidance |  | Adjustments due to adoption of new standard |  | Balance as reported |  | Balance under previous accounting guidance |  | Adjustments due to adoption of new standard |  | Balance as reported
Revenue |  | $ | 728,420 |  | $ | 2,290 |  | $ | 730,710 |  | $ | 2,127,792 |  | $ | 4,057 |  | $ | 2,131,849
Income before income taxes |  | 81,440 |  | 2,290 |  | 83,730 |  | 235,908 |  | 4,057 |  | 239,965
Provision for income taxes |  | 20,031 |  | 734 |  | 20,765 |  | 58,008 |  | 1,503 |  | 59,511
Net income |  | 61,409 |  | 1,556 |  | 62,965 |  | 177,900 |  | 2,554 |  | 180,454
(Loss)/income attributable to noncontrolling interests |  | (91) |  | 158 |  | 67 |  | (929) |  | 648 |  | (281)
Net income attributable to MAXIMUS |  | $ | 61,500 |  | $ | 1,398 |  | $ | 62,898 |  | $ | 178,829 |  | $ | 1,906 |  | $ | 180,735
The effect on our balance sheet would have been as follows:
(dollars in thousands) |  | Balance at June 30, 2019 under previous accounting guidance |  | Adjustments due to adoption of new standard |  | Balance at June 30, 2019 as reported
Assets |  |  |  |  |  |
Accounts receivable - unbilled |  | $ | 56,341 |  | $ | 37,761 |  | $ | 94,102
Deferred income taxes |  | 7,199 |  | (6,582) |  | 617
Liabilities and shareholders' equity |  |  |  |  |  |
Deferred revenue - current |  | 53,032 |  | (12,081) |  | 40,951
Deferred income taxes - long-term |  | 37,195 |  | 7,574 |  | 44,769
Common stock |  | 501,983 |  | 1,201 |  | 503,184
Accumulated other comprehensive loss |  | (40,112) |  | (998) |  | (41,110)
Retained earnings |  | 716,887 |  | 35,483 |  | 752,370
Noncontrolling interests |  | 455 |  | — |  | 455
Accounting Standards Update 2016-15 |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles | Accordingly, we have presented our consolidated statement of cash flows using the new rules for all periods shown. Our balances for cash, cash equivalents and restricted cash are as follows:
|  | Balance as of |  |  |  |  |  |
(dollars in thousands) |  | June 30, 2019 |  | September 30, 2018 |  | June 30, 2018 |  | September 30, 2017
Cash and cash equivalents |  | $ | 71,084 |  | $ | 349,245 |  | $ | 229,021 |  | $ | 166,252
Restricted cash (recorded within "other current assets") |  | 7,885 |  | 7,314 |  | 13,323 |  | 13,475
Cash, cash equivalents and restricted cash |  | $ | 78,969 |  | $ | 356,559 |  | $ | 242,344 |  | $ | 179,727

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