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Acquisition of Citizen Engagement Centers Business (Tables) | 9 Months Ended
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Jun. 30, 2019
Business Combinations [Abstract] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | Our current estimate of the allocation of the purchase price, updated from March 31, 2019, is shown below.
(dollars in thousands) |  | Estimated purchase price allocation at March 31, 2019 |  | Adjustments |  | Estimated purchase price allocation at June 30, 2019 |  |
Cash consideration |  | $ | 430,573 |  | $ | 126 |  | $ | 430,699 |  |
Billed and unbilled receivables |  | 141,869 |  | 296 |  | 142,165 |  |
Property and equipment |  | 6,454 |  | 2,520 |  | 8,974 |  |
Other assets |  | 4,093 |  | 415 |  | 4,508 |  |
Intangible assets |  | 122,300 |  | — |  | 122,300 |  |
Total identifiable assets acquired |  | 274,716 |  | 3,231 |  | 277,947 |  |
Accounts payable and other liabilities |  | 32,205 |  | (343) |  | 31,862 |  |
Net identifiable assets acquired |  | 242,511 |  | 3,574 |  | 246,085 |  |
Goodwill |  | 188,062 |  | (3,448) |  | 184,614 |  |
Net assets acquired |  | $ | 430,573 |  | $ | 126 |  | $ | 430,699 |  |
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination |
(dollars in thousands) |  | Useful life |  | Fair value
Customer relationships - all contracts except U.S. Census |  | 10 years |  | $ | 85,300
Customer relationships - U.S. Census |  | 2 years |  | 37,000
Total intangible assets |  |  |  | $ | 122,300
Schedule of the contribution of acquired business | The contribution of the acquired business for the three and nine months ended June 30, 2019, is shown below. Given the integration of the acquired business into our cost structure, it is impracticable to calculate the effect of the acquisition on operating income.
|  |  |  |  |  | Acquisition Contribution for |  |
(dollars in thousands) |  |  |  |  |  | Three Months Ended June 30, 2019 |  | Nine Months Ended June 30, 2019
Revenue |  |  |  |  |  | $ | 163,381 |  | $ | 440,647
Gross profit |  |  |  |  |  | 31,943 |  | 83,563
Schedule of Business Acquisition, Pro Forma Information |
|  | Pro forma results for the three months ended June 30, |  |  |  | Pro forma results for the nine months ended June 30, |  |
(dollars in thousands, except per share amounts) |  | 2019 |  | 2018 |  | 2019 |  | 2018
Revenue |  | $ | 730,710 |  | $ | 731,755 |  | $ | 2,230,278 |  | $ | 2,324,478
Net income |  | 62,965 |  | 56,886 |  | 183,927 |  | 176,877
Basic earnings per share attributable to MAXIMUS |  | 0.98 |  | 0.86 |  | 2.85 |  | 2.68
Diluted earnings per share attributed to MAXIMUS |  | 0.97 |  | 0.86 |  | 2.84 |  | 2.66
Schedule of Goodwill | Changes in goodwill for the nine months ended June 30, 2019, were as follows:
(dollars in thousands) |  | U.S. Health & Human Services |  | U.S. Federal Services |  | Outside the United States |  | Total
Balance as of September 30, 2018 |  | $ | 139,588 |  | $ | 228,148 |  | $ | 32,146 |  | $ | 399,882
Estimated effect of the acquisition of citizen engagement centers business |  | 19,703 |  | 162,465 |  | 2,446 |  | 184,614
Foreign currency translation |  | — |  | — |  | (793) |  | (793)
Balance as of June 30, 2019 |  | $ | 159,291 |  | $ | 390,613 |  | $ | 33,799 |  | $ | 583,703
Schedule of Finite-Lived Intangible Assets | The following table sets forth the components of intangible assets:
|  | As of June 30, 2019 |  |  |  |  |  | As of September 30, 2018 |  |  |  |
(dollars in thousands) |  | Cost |  | Accumulated Amortization |  | Intangible Assets, net |  | Cost |  | Accumulated Amortization |  | Intangible Assets, net
Customer contracts and relationships |  | $ | 248,324 |  | $ | 63,684 |  | $ | 184,640 |  | $ | 129,113 |  | $ | 42,683 |  | $ | 86,430
Technology based intangible assets |  | 5,680 |  | 4,385 |  | 1,295 |  | 5,750 |  | 4,212 |  | 1,538
Trademarks and trade names |  | 4,489 |  | 4,459 |  | 30 |  | 4,496 |  | 4,429 |  | 67
Total |  | $ | 258,493 |  | $ | 72,528 |  | $ | 185,965 |  | $ | 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 future fiscal years for the intangible assets held by the Company as of June 30, 2019, is as follows (in thousands):
Nine months ended September 30, 2019 | $ | 8,984
2020 | 35,279
2021 | 18,230
2022 | 15,857
2023 | 15,760

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