RECLASSIFICATIONS

9 Months Ended

Jun. 30, 2016

Organization, Consolidation and Presentation of Financial Statements [Abstract]

3. RECLASSIFICATIONS

In the accompanying consolidated statements of income, the Company has reported revenues for the quarter and the nine months ended June 30, 2016 and 2015 net of sales taxes and other revenue related taxes, due to a change in accounting policy. Previously, the Company had included these taxes in expense. The reclassifications amounted to $2.3 million and $2.3 million for the quarters and $7.0 million and $7.0 million and nine months ended June 30, 2016 and 2015, respectively.

In the accompanying consolidated balance sheet, the Company has reported deferred tax assets and liabilities and assets as of June 30, 2016 and September 30, 2015 as a net item in accordance with ASU 2015-17 explained above. Previously, these balance sheet accounts had been reported gross as assets and liabilities. This change resulted in a reclassification of $2.8 million and $3.4 million from current assets to long-term liabilities as of June 30, 2016 and September 30, 2015, respectively.

In the accompanying consolidated balance sheet, the Company has reported deferred debt issue costs as a reduction of long-term debt as of June 30, 2016 and September 30, 2015, in accordance with ASU 2015-03 explained above. Previously these balance sheet accounts had been reported as other assets. This change resulted in a reclassification of $412,887 and $339,856 from long-term assets to long-term liabilities as of June 30, 2016 and September 30, 2015, respectively.