Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Sep. 30, 2015 | Oct. 30, 2015 | Mar. 31, 2015 | |
Document and Entity Information [Abstract] | |||
Trading Symbol | BRKS | ||
Entity Registrant Name | BROOKS AUTOMATION INC | ||
Entity Central Index Key | 933,974 | ||
Current Fiscal Year End Date | --09-30 | ||
Entity Filer Category | Large Accelerated Filer | ||
Document Type | 10-K | ||
Document Period End Date | Sep. 30, 2015 | ||
Document Fiscal Year Focus | 2,015 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Common Stock, Shares Outstanding | 67,644,663 | ||
Entity Public Float | $ 772,150,000 |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Sep. 30, 2015 | Sep. 30, 2014 |
Current assets | ||
Cash and cash equivalents | $ 80,722 | $ 94,114 |
Marketable securities | 70,021 | 68,130 |
Accounts receivable, net | 86,448 | 80,106 |
Inventories | 100,619 | 93,567 |
Deferred tax assets | 17,609 | 19,009 |
Assets held for sale | 2,900 | 0 |
Prepaid expenses and other current assets | 15,158 | 19,387 |
Total current assets | 373,477 | 374,313 |
Property, plant and equipment, net | 41,855 | 50,183 |
Long-term marketable securities | 63,287 | 83,212 |
Long-term deferred tax assets | 70,476 | 67,563 |
Goodwill | 121,408 | 109,501 |
Intangible assets, net | 55,446 | 59,550 |
Equity method investments | 24,308 | 28,944 |
Other assets | 9,397 | 4,772 |
Total assets | 759,654 | 778,038 |
Current liabilities | ||
Accounts payable | 44,890 | 33,740 |
Capital lease obligation | 0 | 881 |
Deferred revenue | 17,886 | 26,279 |
Accrued warranty and retrofit costs | 6,089 | 6,499 |
Accrued compensation and benefits | 20,401 | 21,663 |
Accrued restructuring costs | 2,073 | 3,475 |
Accrued income taxes payable | 6,111 | 1,808 |
Deferred tax liabilities | 1,251 | 808 |
Accrued expenses and other current liabilities | 15,550 | 18,688 |
Total current liabilities | 114,251 | 113,841 |
Long-term capital lease obligation | 0 | 7,417 |
Long-term tax reserves | 3,644 | 5,708 |
Long-term deferred tax liabilities | 3,196 | 2,567 |
Long-term pension liability | 3,118 | 1,774 |
Other long-term liabilities | 3,400 | 3,842 |
Total liabilities | $ 127,609 | $ 135,149 |
Commitments and contingencies (Note 21) | ||
Equity | ||
Preferred stock, $0.01 par value- 1,000,000 shares authorized, no shares issued or outstanding | $ 0 | $ 0 |
Common stock, $0.01 par value- 125,000,000 shares authorized, 81,093,052 shares issued and 67,631,183 shares outstanding at September 30, 2015, 80,375,777 shares issued and 66,913,908 shares outstanding at September 30, 2014 | 811 | 804 |
Additional paid-in capital | 1,846,357 | 1,834,619 |
Accumulated other comprehensive income | 5,898 | 15,687 |
Treasury stock at cost, 13,461,869 shares | (200,956) | (200,956) |
Total Brooks Automation, Inc. stockholders’ equity | (1,020,065) | (1,007,265) |
Total equity | 632,045 | 642,889 |
Total liabilities and equity | $ 759,654 | $ 778,038 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares | Sep. 30, 2015 | Sep. 30, 2014 |
Statement of Financial Position [Abstract] | ||
Preferred stock, par value (USD per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value (USD per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 125,000,000 | 125,000,000 |
Common stock, shares issued | 81,093,052 | 80,375,777 |
Common stock, shares outstanding | 67,631,183 | 66,913,908 |
Treasury stock, shares | 13,461,869 | 13,461,869 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
Revenue | |||
Product | $ 457,411 | $ 387,032 | $ 335,011 |
Services | 95,297 | 95,816 | 87,429 |
Total revenue | 552,708 | 482,848 | 422,440 |
Cost of revenue | |||
Product | 307,865 | 252,688 | 229,411 |
Services | 55,738 | 62,823 | 60,722 |
Total cost of revenue | 363,603 | 315,511 | 290,133 |
Gross profit | 189,105 | 167,337 | 132,307 |
Operating expenses | |||
Research and development | 52,232 | 52,649 | 46,209 |
Selling, general and administrative | 115,270 | 111,098 | 96,516 |
Restructuring and other charges | 4,713 | 6,289 | 6,380 |
Total operating expenses | 172,215 | 170,036 | 149,105 |
Operating income (loss) | 16,890 | (2,699) | (16,798) |
Interest income | 899 | 950 | 1,032 |
Interest expense | (395) | (202) | (2) |
Other income, net | 421 | 256 | 1,227 |
Income (loss) before income taxes and earnings (losses) of equity method investments | 17,815 | (1,695) | (14,541) |
Income tax provision (benefit) | 3,430 | (1,980) | (4,985) |
Income (loss) before earnings (losses) of equity method investments | 14,385 | 285 | (9,556) |
Equity in (losses) earnings of equity method investments | (164) | 1,235 | 2,442 |
Income (loss) from continuing operations | 14,221 | 1,520 | (7,114) |
Income from discontinued operations, net of tax | 0 | 30,002 | 4,964 |
Net income (loss) | 14,221 | 31,522 | (2,150) |
Net income attributable to noncontrolling interests | 0 | (161) | (65) |
Net income (loss) attributable to Brooks Automation, Inc. | $ 14,221 | $ 31,361 | $ (2,215) |
Basic net income (loss) per share attributable to Brooks Automation, Inc. common stockholders: | |||
Income (loss) from continuing operations (USD per share) | $ 0.21 | $ 0.02 | $ (0.11) |
Income from discontinued operations, net of tax (USD per share) | 0 | 0.45 | 0.08 |
Basic net income (loss) per share attributable to Brooks Automation, Inc. (USD per share) | 0.21 | 0.47 | (0.03) |
Earnings Per Share, Diluted [Abstract] | |||
Income (loss) from continuing operations (USD per share) | 0.21 | 0.02 | (0.11) |
Income from discontinued operations, net of tax (USD per share) | 0 | 0.44 | 0.08 |
Diluted net income (loss) per share attributable to Brooks Automation, Inc. common stockholders (USD per share) | 0.21 | 0.46 | (0.03) |
Dividend declared per share (USD per share) | $ 0.40 | $ 0.34 | $ 0.32 |
Weighted-average shares used in computing earnings (loss) per share: | |||
Basic (shares) | 67,411 | 66,648 | 65,912 |
Diluted (shares) | 68,549 | 67,644 | 65,912 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
Statement of Comprehensive Income [Abstract] | |||
Net income (loss) | $ 14,221 | $ 31,522 | $ (2,150) |
Change in cumulative foreign currency translation adjustments, net of tax effects of $21, ($580), and $376 for fiscal years 2015, 2014 and 2013 | (9,557) | (6,296) | (2,113) |
Change in unrealized gains (losses) on available for sale securities, net of tax effects of $(83), $62, and $79 for fiscal years 2015, 2014 and 2013 | 141 | (104) | (135) |
Change in fair value of cash flow hedges, net of tax impact of $9 and ($9) for fiscal years 2014 and 2013 | 0 | (14) | 14 |
Actuarial (losses) gains, net of tax effects of $115, $471, and ($360) for fiscal years 2015, 2014 and 2013 | (605) | (503) | 1,109 |
Pension settlement | 232 | 0 | 87 |
Comprehensive income (loss), net of tax | 4,432 | 24,605 | (3,188) |
Comprehensive income attributable to noncontrolling interests | 0 | (161) | (65) |
Comprehensive income (loss) attributable to Brooks Automation, Inc., net of tax | $ 4,432 | $ 24,444 | $ (3,253) |
CONSOLIDATED STATEMENTS OF COM6
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) Parenthetical - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
Statement of Comprehensive Income [Abstract] | |||
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax | $ (21) | $ 580 | $ (376) |
Changes in unrealized loss on marketable securities, tax | 83 | (62) | (79) |
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Tax | (9) | 9 | |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Unamortized Gain (Loss) Arising During Period, Tax | $ (115) | $ (471) | $ 360 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
Cash flows from operating activities | |||
Net income (loss) | $ 14,221 | $ 31,522 | $ (2,150) |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||
Depreciation and amortization | 25,160 | 23,459 | 24,155 |
Impairment of intangible assets | 0 | 398 | 1,960 |
Impairment of other assets | 0 | 2,621 | 0 |
Stock-based compensation | 12,159 | 10,912 | 7,757 |
Amortization of premium on marketable securities | 1,193 | 1,255 | 1,274 |
Undistributed losses (earnings) of equity method investments | 164 | (1,235) | (2,442) |
Deferred income tax benefit | (2,173) | (1,779) | (2,936) |
Loss on write-downs of assets held for sale | 1,944 | 0 | 0 |
Pension settlement | 232 | 0 | 87 |
Gain on disposal of businesses | (85) | (27,444) | 0 |
Loss (gain) on disposal of long-lived assets | 0 | 13 | (1,394) |
Changes in operating assets and liabilities, net of acquisitions and disposals: | |||
Accounts receivable | (5,134) | 12,098 | 6,422 |
Inventories | (5,919) | 9,598 | 15,490 |
Prepaid expenses and other current assets | (2,875) | (12,325) | 4,359 |
Accounts payable | 8,358 | (11,924) | 3,123 |
Deferred revenue | (6,779) | 5,900 | 8,971 |
Accrued warranty and retrofit costs | (407) | (1,102) | (1,806) |
Accrued compensation and benefits | (1,148) | 6,783 | (2,625) |
Accrued restructuring costs | (1,247) | 2,161 | (972) |
Accrued pension costs | 812 | 997 | (950) |
Accrued expenses and other current liabilities | 5,251 | 1,873 | (3,934) |
Net cash provided by operating activities | 43,727 | 53,781 | 54,389 |
Cash flows from investing activities | |||
Purchases of property, plant and equipment | (16,146) | (5,518) | (3,635) |
Purchases of marketable securities | (87,333) | (174,287) | (91,740) |
Sales and maturities of marketable securities | 104,008 | 112,085 | 145,023 |
Proceeds from divestitures | 0 | 85,369 | 0 |
Proceeds from liquidation of joint venture | 1,778 | 0 | 0 |
Acquisitions, net of cash acquired | (14,450) | (35,625) | (68,331) |
Decrease in restricted cash | 0 | 177 | 586 |
Other investments | (5,500) | 0 | 0 |
Proceeds from the sale of property, plant and equipment | 6 | 0 | 14,082 |
Payments of deferred leasing costs | 0 | 0 | (3,134) |
Net cash used in investing activities | (17,637) | (17,799) | (7,149) |
Cash flows from financing activities | |||
Proceeds from issuance of common stock, net of issuance costs | 1,807 | 1,838 | 1,851 |
Principal repayments of capital lease obligations | 0 | (239) | 0 |
Acquisitions of noncontrolling interest | 0 | (3,189) | 0 |
Repayment of debt assumed in business acquisition | (8,829) | 0 | 0 |
Common stock dividends paid | (26,992) | (22,875) | (21,328) |
Net cash used in financing activities | (34,014) | (24,465) | (19,477) |
Effects of exchange rate changes on cash and cash equivalents | (5,468) | (374) | 569 |
Net (decrease) increase in cash and cash equivalents | (13,392) | 11,143 | 28,332 |
Cash and cash equivalents, beginning of year | 94,114 | 82,971 | 54,639 |
Cash and cash equivalents, end of year | 80,722 | 94,114 | 82,971 |
Supplemental disclosures: | |||
Cash paid for interest | 395 | 202 | 2 |
Cash paid (refunded) for income taxes, net | 3,883 | 1,084 | (762) |
Supplemental disclosure of non-cash investing and financing activities: | |||
Acquisition of buildings and land through capital lease | 0 | 8,537 | 0 |
Derecognition of a capital lease obligation and the related assets | $ 7,804 | $ 0 | $ 0 |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Thousands | Total | Common Stock | Additional Paid-In Capital | Accumulated Other Comprehensive Income (Loss) | Accumulated Deficit | Treasury Stock | Total Brooks Automation, Inc. Stockholders' Equity | Noncontrolling Interests in Subsidiaries |
Beginning Balance (in shares) at Sep. 30, 2012 | 79,790,557 | |||||||
Beginning Balance at Sep. 30, 2012 | $ 649,301 | $ 798 | $ 1,817,706 | $ 23,642 | $ (992,524) | $ (200,956) | $ 648,666 | $ 635 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Shares issued under stock option, restricted stock and purchase plans, net (in shares) | 248,547 | |||||||
Shares issued under stock option, restricted stock and purchase plans, net | 188 | $ 2 | 186 | 188 | ||||
Stock-based compensation | 7,607 | 7,607 | 7,607 | |||||
Common stock dividend declared | (21,252) | (21,252) | (21,252) | |||||
Comprehensive income (loss): | ||||||||
Net income (loss) | (2,150) | (2,215) | (2,215) | 65 | ||||
Currency translation adjustments | (2,113) | (2,113) | (2,113) | |||||
Change in unrealized gains (losses) on available for sale securities, net of tax effects of $(83), $62, and $79 for fiscal years 2015, 2014 and 2013 | (135) | (135) | (135) | |||||
Changes in unrealized gain on cash flow hedges | 14 | 14 | 14 | |||||
Actuarial gain (loss) arising in the year | 1,109 | 1,109 | 1,109 | |||||
Recognition of pension settlement in earnings | 87 | 87 | 87 | |||||
Ending Balance (in shares) at Sep. 30, 2013 | 80,039,104 | |||||||
Ending Balance at Sep. 30, 2013 | 632,656 | $ 800 | 1,825,499 | 22,604 | (1,015,991) | (200,956) | 631,956 | 700 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Shares issued under stock option, restricted stock and purchase plans, net (in shares) | 336,673 | |||||||
Shares issued under stock option, restricted stock and purchase plans, net | 390 | $ 4 | 386 | 390 | ||||
Stock-based compensation | 11,062 | 11,062 | 11,062 | |||||
Common stock dividend declared | (22,635) | (22,635) | (22,635) | |||||
Acquisition of noncontrolling interest | (3,189) | (2,328) | (2,328) | (861) | ||||
Comprehensive income (loss): | ||||||||
Net income (loss) | 31,522 | 31,361 | 31,361 | 161 | ||||
Currency translation adjustments | (6,296) | (6,296) | (6,296) | |||||
Change in unrealized gains (losses) on available for sale securities, net of tax effects of $(83), $62, and $79 for fiscal years 2015, 2014 and 2013 | (104) | (104) | (104) | |||||
Changes in unrealized gain on cash flow hedges | (14) | (14) | (14) | |||||
Actuarial gain (loss) arising in the year | (503) | (503) | (503) | |||||
Ending Balance (in shares) at Sep. 30, 2014 | 80,375,777 | |||||||
Ending Balance at Sep. 30, 2014 | 642,889 | $ 804 | 1,834,619 | 15,687 | (1,007,265) | (200,956) | 642,889 | $ 0 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Shares issued under stock option, restricted stock and purchase plans, net (in shares) | 717,275 | |||||||
Shares issued under stock option, restricted stock and purchase plans, net | (414) | $ 7 | (421) | (414) | ||||
Stock-based compensation | 12,159 | 12,159 | 12,159 | |||||
Common stock dividend declared | (27,021) | (27,021) | (27,021) | |||||
Comprehensive income (loss): | ||||||||
Net income (loss) | 14,221 | 14,221 | 14,221 | |||||
Currency translation adjustments | (9,557) | (9,557) | (9,557) | |||||
Change in unrealized gains (losses) on available for sale securities, net of tax effects of $(83), $62, and $79 for fiscal years 2015, 2014 and 2013 | 141 | 141 | 141 | |||||
Actuarial gain (loss) arising in the year | (605) | (605) | (605) | |||||
Recognition of pension settlement in earnings | 232 | 232 | 232 | |||||
Ending Balance (in shares) at Sep. 30, 2015 | 81,093,052 | |||||||
Ending Balance at Sep. 30, 2015 | $ 632,045 | $ 811 | $ 1,846,357 | $ 5,898 | $ (1,020,065) | $ (200,956) | $ 632,045 | $ 0 |
CONSOLIDATED STATEMENTS OF CHA9
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY Statements of Changes in Equity (Phantom) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2015 | Sep. 30, 2014 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax | $ (376) | $ (21) | $ 580 |
Changes in unrealized loss on marketable securities, tax | (79) | 83 | (62) |
Changes in unrealized gain or loss on cash flow hedges, tax | 9 | (9) | |
Actuarial gain or loss arising in the year, tax | $ 360 | $ (115) | $ (471) |
Nature of the Business
Nature of the Business | 12 Months Ended |
Sep. 30, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Nature of the Business | Nature of the Business Brooks Automation, Inc. (“Brooks”, or the “Company”) is a leading worldwide provider of automation and cryogenic solutions for multiple markets, including semiconductor capital equipment and life sciences biological sample management and storage. The Company's technologies, engineering competencies and global service capabilities provide customers speed to market and ensure high uptime and rapid response, which equate to superior value in their mission-critical controlled environments. Since 1978, the Company has been a leading partner to the global semiconductor manufacturing markets. The Company has expanded its products and services through product development initiatives and strategic business acquisitions to meet the needs of customers in the life science and technology markets adjacent to semiconductor. In the second quarter of fiscal year 2014, the Company determined that its Granville-Phillips Gas Analysis & Vacuum Measurement, or Granville-Phillips, business met the criteria of being reported as a discontinued operation. As a result, the Company’s historical financial statements have been revised to present the operating results of the Granville-Phillips business as a discontinued operation. The results of operations from the Granville-Phillips business are presented as “Income from discontinued operations, net of tax” in the Consolidated Statements of Operations. The Company has not separated cash flows of the Granville-Phillips business from those of its continuing operations and has not revised its historical statements of cash flows. Unless otherwise noted, the discussion in the notes to these consolidated financial statements relates solely to the Company's continuing operations. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Sep. 30, 2015 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies Principles of Consolidation and Basis of Presentation The accompanying consolidated financial statements include the accounts of the Company and its majority-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. The Company applies equity method of accounting to investments that provide it with ability to exercise significant influence over the entities in which it lacks controlling financial interest and is not a primary beneficiary. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenue and expenses during the reporting period. Significant estimates are associated with recording accounts receivable, inventories, goodwill, intangible assets other than goodwill, long-lived assets, derivative financial instruments, deferred income taxes, warranty and pension obligations, revenue recognized in accordance with the percentage of completion method, and stock-based compensation expense. The Company assesses the estimates on an ongoing basis and records changes in estimates in the period they occur and become known. Actual results could differ from these estimates. Business Combinations The Company accounts for business acquisitions using the purchase method of accounting, in accordance with which assets acquired and liabilities assumed are recorded at their respective fair values at the acquisition date. The fair value of the consideration paid, including contingent consideration, is assigned to the assets acquired and liabilities assumed based on their respective fair values. Goodwill represents excess of the purchase price over the estimated fair values of the assets acquired and liabilities assumed. Significant judgments are used in determining fair values of assets acquired and liabilities assumed, as well as intangibles and their estimated useful lives. Fair value and useful life determinations are based on, among other factors, estimates of future expected cash flows, royalty cost savings and appropriate discount rates used in computing present values. These judgments may materially impact the estimates used in allocating acquisition date fair values to assets acquired and liabilities assumed, as well as the Company's current and future operating results. Actual results may vary from these estimates which may result in adjustments to goodwill and acquisition date fair values of assets and liabilities during a measurement period or upon a final determination of asset and liability fair values, whichever occurs first. Adjustments to fair values of assets and liabilities made after the end of the measurement period are recorded within the Company's operating results. Changes in the fair value of a contingent consideration resulting from a change in the underlying inputs are recognized in results of operations until the arrangement is settled. Foreign Currency Translation Certain transactions of the Company and its subsidiaries are denominated in currencies other than their functional currency. Foreign currency exchange gains (losses) generated from the settlement and remeasurement of these transactions are recognized in earnings and presented within “Other income, net” in the Company's Consolidated Statements of Operations. Net foreign currency transaction and remeasurement gains (losses) totaled $0.5 million , $(1.2) million and $(0.9) million for the fiscal years ended September 30, 2015, 2014 and 2013, respectively. The determination of the functional currency of the Company's subsidiaries is based on their financial and operational environment and is the local currency of all of the Company's foreign subsidiaries. The subsidiaries' assets and liabilities are translated into the reporting currency at period-end exchange rates, while revenue, expenses, gains and losses are translated at the average exchange rates during the period. Gains and losses from foreign currency translations are recorded in accumulated other comprehensive income in the Company's Consolidated Balance Sheets and presented as a component of comprehensive income (loss) in the Company's Consolidated Statements of Comprehensive Income (Loss). Derivative Financial Instruments All derivatives, whether designated as a hedging relationship or not, are recorded in the Consolidated Balance Sheets at fair value. The accounting for changes in fair value of a derivative instrument depends on whether it has been designated and qualifies as part of a hedging relationship and the type of hedging relationship. For those derivative instruments that are designated and qualify as hedging instruments, the Company must designate the hedging instrument as a fair value hedge, cash flow hedge or a hedge of a net investment in a foreign operation based on the exposure being hedged. Certain derivatives held by the Company are not designated as hedges but are used in managing exposure to changes in foreign exchange rates. A fair value hedge is a derivative instrument designated for the purpose of hedging the exposure of changes in fair value of an asset or a liability resulting from a particular risk. If the derivative is designated as a fair value hedge, the changes in the fair value of the derivative and of the hedged item attributable to the hedged risk are both recognized in the results of operations and presented in the same caption in the Consolidated Statements of Operations and Consolidated Statements of Comprehensive Income (Loss). A cash flow hedge is a derivative instrument designated for the purpose of hedging the exposure to variability in future cash flows resulting from a particular risk. If the derivative is designated as a cash flow hedge, the effective portions of changes in the fair value of the derivative are recorded in accumulated other comprehensive income and recognized in the results of operations when the hedged item affects earnings. Ineffective portions of changes in the fair value of cash flow hedges are recognized in the results of operations. A hedge of a net investment in a foreign operation is achieved through a derivative instrument designated for the purpose of hedging the exposure of changes in value of investments in foreign subsidiaries. If the derivative is designated as a hedge of a net investment in a foreign operation, the effective portions of changes in the fair value of the derivative are recorded in other comprehensive income as a part of the foreign currency translation adjustment. Ineffective portions of net investment hedges are recognized in the results of operations. For derivative instruments not designated as hedging instruments, changes in fair value are recognized in the Consolidated Statements of Operations as gains or losses consistent with the classification of the underlying risk. Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash deposits and cash equivalents, marketable securities, derivative instruments and accounts receivable. All of the Company’s cash, cash equivalents, marketable securities and derivative instruments are maintained by major financial institutions. The Company invests cash not used in operations in investment grade, high credit quality securities in accordance with the Company's investment policy which provides guidelines and limits regarding investments type, concentration, credit quality and maturity terms aimed at maintaining liquidity and reducing risk of capital loss. A majority of the Company’s customers is concentrated in the semiconductor industry. The Company regularly monitors the creditworthiness of its customers and believes that it has adequately provided for exposure to potential credit losses. The Company's top ten largest customers accounted for approximately 38% , 37% and 40% of its consolidated revenue for the fiscal years ended September 30, 2015, 2014 and 2013, respectively. One customer accounted for approximately 12% , 11% , and 11% , respectively, in the fiscal years ended September 30, 2015, 2014 and 2013. Fair Value of Financial Instruments The Company's financial instruments consist of cash and cash equivalents, marketable securities, derivative instruments, accounts receivable, note receivable, convertible debt securities, stock warrants and accounts payable. Marketable securities and derivative instruments are measured at fair value based on quoted market prices for identical or similar assets or liabilities. Convertible debt securities are measured at fair value based on the probability-weighted expected return method utilizing various scenarios for the expected payout of the instrument covering the full range of the potential outcomes. Fair value of the asset securities is based upon the present value of the probability of each future outcome becoming available to the asset and the economic rights and preferences of each asset. Stock warrants are measured at fair value based on the Black-Scholes model which incorporates the constant price variation of the underlying asset, the time value of money, the warrant’s strike price and the time to the warrant’s expiration date. Note receivable is measured at fair value on non-recurring basis. The Company considers the subordination features of the note and the fair value of the collateral determined based on valuation techniques, principally the discounted cash flow method. The fair value of the note receivable could be different under different conditions or different assumptions, including the varying assumptions regarding future cash flows of the Borrower or discount rates. The carrying amounts of cash, cash equivalent, accounts receivable and accounts payable approximate their fair value due to their short-term nature. Cash and Cash Equivalents Cash and cash equivalents consist of cash and highly liquid investments with original maturities of three months or less. At September 30, 2015 and 2014, cash equivalents were $11.6 million and $6.4 million , respectively. Cash equivalents are reported at cost which approximates their fair value due to their short-term nature and varying interest rates. Accounts Receivable and Allowance for Doubtful Accounts and Sales Returns Trade accounts receivable do not bear interest and are recorded at the invoiced amount. The Company maintains an allowance for doubtful accounts representing its best estimate of probable credit losses related to its existing accounts receivable and their net realizable value. The Company determines the allowance based on a number of factors, including an evaluation of customer credit worthiness, the age of the outstanding receivables, economic trends and historical experience. The Company reviews its allowance for doubtful accounts on a quarterly basis and adjusts the balance based on the Company's estimates of the receivables' recoverability in the period the changes in estimates occur and become known. Accounts receivable balances are written-off against the allowance for doubtful accounts when the Company determines that the balances are not recoverable. Provisions for doubtful accounts are recorded in "Selling, general and administrative expenses" in the Consolidated Statements of Operations. The Company determines the allowance for sales returns based on its best estimate of probable customer returns. Provisions for sales returns are recorded in "Revenue" in the Consolidated Statements of Operations. The Company does not have any off-balance-sheet credit exposure related to its customers. Inventories Inventories are stated at the lower of cost or market. Cost is determined based on standard cost which approximates actual cost on a first-in, first-out basis. The Company reports inventories at their net realizable value and provides reserves for excess, obsolete or damaged inventory based on changes in customer demand, technology and other economic factors. Fixed Assets, Intangible Assets and Impairment of Long-lived Assets Property, plant and equipment are stated at cost, net of accumulated depreciation. Depreciation expense is computed based on the straight-line method and charged to results of operations to allocate the cost of the assets over their estimated useful lives, as follows: Buildings 20 - 40 years Computer equipment and software 2 - 7 years Machinery and equipment 2 - 10 years Furniture and fixtures 3 - 10 years Leasehold improvements are amortized over the shorter of their estimated useful lives or the remaining terms of the respective leases. Equipment used for demonstrations to customers is included in machinery and equipment and depreciated over its estimated useful life. Repair and maintenance costs are expensed as incurred. The Company develops software for its internal use. Internal and external labor costs incurred during the application development stage are capitalized. Training and data conversion costs, as well as costs incurred prior to the application development stage and during the post-implementation stage are expensed as incurred. Cost of disposed assets upon their retirement and the associated accumulated depreciation are derecognized at the time of disposal, and the resulting gain or loss is included in the Company's results of operations as a component of operating income (loss). The Company identified finite-lived intangible assets other than goodwill as a result of acquisitions. Finite-lived intangible assets are valued based on estimated future cash flows and amortized over their estimated useful lives based on methods that approximate the pattern in which the economic benefits are expected to be realized. Finite-lived intangibles assets and fixed assets are tested for impairment when indicators of impairment are present. For purposes of this test, long-lived assets are grouped with other assets and liabilities at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities. If the Company determines that indicators of potential impairment are present, it assesses the recoverability of long-lived asset group by comparing its undiscounted future cash flows to its carrying value. The future cash flow period is based on the future service life of the primary asset within the long-lived asset group. If the carrying value of the long-lived asset group exceeds its future cash flows, the Company determines fair values of the individual net assets within the long-lived asset group to assess potential impairment. If the aggregate fair values of the individual net assets of the group are less than their carrying values, an impairment loss is recognized for an amount in excess of the group's aggregate carrying value over its fair value. The loss is allocated to the assets within the group based on their relative carrying values, with no asset reduced below its fair value. Finite-lived intangible assets are amortized over their useful lives, as follows: Patents 7 - 15 years Completed technology 5 - 10 years Customer relationships 5 - 13 years Goodwill Goodwill represents the excess of a purchase price over the fair value of net tangible and identifiable intangible assets of the businesses acquired by the Company. Goodwill is tested for impairment annually or more often if impairment indicators are present, at the reporting unit level. Prior to fiscal year 2015, the Company conducted its annual goodwill impairment test as of its fiscal year end, or September 30th. Beginning with fiscal year 2015, the Company changed the date of its annual goodwill impairment test from September 30th to April 1st to align more closely with its annual strategic planning process. This change did not delay, accelerate, or avoid an impairment charge and did not result in adjustments to the Company's consolidated financial statements when applied retrospectively. The Company completed the annual goodwill impairment test during fiscal year 2015 and determined that no adjustment to goodwill was necessary since the fair value of all reporting units substantially exceeded their respective carrying values. The change in the annual impairment test date did not have an impact on the Company's financial position and results of operations during the fiscal year ended September 30, 2015. No triggering events indicating goodwill impairment occurred subsequent to the test date. Application of the goodwill impairment test requires significant judgment based on market and operational conditions at the time of the evaluation, including management's best estimate of future business activity and the related estimates of future cash flows from the assets and the reporting units that include the associated goodwill. These periodic evaluations could cause management to conclude that impairment factors exist, requiring an adjustment of these assets to their then-current fair market values. Future business conditions and/or activity could differ materially from the projections made by management which could result in additional adjustments and impairment charges. The goodwill impairment test is performed at the reporting unit level. A reporting unit is either an operating segment or one level below it, which is referred to as a “component”. The level at which the impairment test is performed requires an assessment of whether the operations below an operating segment constitute a self-sustaining business, in which case testing is generally performed at this level. The Company currently has six reporting units that have goodwill, including three components that are part of our Brooks Product Solutions operating segment and sole reporting units that are our Brooks Global Services and Brooks Life Science Systems operating segments. Goodwill impairment testing involves a two-step process. The Company first compares the fair value of each reporting unit to its respective carrying amount, including goodwill, to assess whether potential goodwill impairment exists. If the fair value of the reporting unit exceeds its carrying amount, goodwill of the reporting unit is not considered impaired. If the reporting unit’s carrying amount exceeds its fair value, the Company performs the second step of the goodwill impairment test to measure the potential impairment loss amount by comparing the implied fair value of goodwill with its carrying amount. The implied fair value of goodwill is determined by allocating the fair value of the reporting unit to all of its assets and liabilities and assigning the excess amount to goodwill. If the implied fair value of goodwill is less than its carrying amount, an impairment loss is recognized for difference between the carrying amount of goodwill and its implied fair value. The Company determines fair values of its reporting units based on an Income Approach in accordance with the Discounted Cash Flow Method, or DCF Method. The DCF Method is based on projected future cash flows and terminal value estimates discounted to their present values. Terminal value represents a present value an investor would pay on the valuation date for the rights to the cash flows of the business for the years subsequent to the discrete cash flow projection period. The Company considers the DCF Method to be the most appropriate valuation technique since it is based on management’s long-term financial projections. Due to the cyclical nature of the semiconductor equipment market, management’s projections as of the valuation date are considered more objective since market metrics of peer companies fluctuate during the cycle. In addition, the Company also compares aggregate values of its net corporate assets and reporting unit fair values to its overall market capitalization and uses certain market-based valuation techniques to test the reasonableness of the reporting unit fair values determined in accordance with the DCF Method. Warranty Obligations The Company offers warranties on the sales of certain of its products and records warranty obligations for estimated future claims at the time revenue is recognized. Warranty obligations are estimated based on historical experience and management's estimate of the level of future claims. Defined Benefit Pension Plans The cost and obligations of the Company's defined benefit pension plans are calculated based on certain assumptions related to estimated benefits that employees earn while working, the amount of which cannot be completely determined until the benefit payments cease. Key assumptions used in accounting for these employee benefit plans include the discount rate, expected return on plan assets and rate of increase in employee compensation levels. Assumptions are determined based on Company data and appropriate market indicators in consultation with third-party actuaries, and are evaluated each year as of the plans’ measurement date. Revenue Recognition Product revenue is associated with the sale of hardware systems, components and spare parts, as well as product license revenue. Service revenue is associated with service contracts, repairs, upgrades and field services. Shipping and handling fees billed to customers, if any, are recognized as revenue. The related shipping and handling costs are recognized in cost of revenue. The Company recognizes revenue when all four revenue recognition criteria have been met: persuasive evidence of an arrangement exists; delivery has occurred or services have been rendered; seller’s price to buyer is fixed or determinable; and collectibility is probable. The revenue recognition policy generally results in revenue recognition at the following points: (1) for all transactions where legal title passes to the customer upon shipment or delivery, revenue is recognized upon passage of title for all products that have been demonstrated to meet product specifications prior to shipment; the portion of revenue associated with certain installation-related tasks is deferred, and that revenue is recognized upon completion of the installation-related tasks; (2) for products that have not been demonstrated to meet product specifications prior to shipment, revenue is recognized at customer technical acceptance; (3) for transactions where legal title does not pass at shipment or delivery, revenue is recognized when legal title passes to the customer, which is generally at customer technical acceptance; and (4) for arrangements containing multiple elements, revenue for delivered elements that have a stand alone value is recognized at the time of delivery, provided all other revenue recognition criteria are met. Revenue related to the undelivered elements is deferred using the relative selling price method utilizing estimated sales prices until delivery of the deferred elements has occurred. Arrangements with certain customers include contingent revenue provisions, in which a portion of the selling price of a delivered item is contingent on the delivery of other items or on the delivered items meeting specified performance criteria. In arrangements that include contingent revenue, the amount of revenue recognized is limited to the lower of either: the amount billed that is not contingent on acceptance; or the value of the arrangement consideration allocated to the delivered elements if the product is a part of a multiple-element arrangement. In cases when products sold have been demonstrated to meet product specifications prior to shipment, which the Company believes is at the time of delivery, it has an enforceable claim to amounts recognized as revenue. Spare parts revenue is generally recognized upon shipment, and services revenue is generally recognized over the period that the services are provided. Revenue from product sales that include significant customization, which primarily include life science automation systems, is recognized using the percentage of completion method. In accordance with the percentage of completion method, revenue is recognized as work progresses based on a percentage that incurred labor effort to date bears to total projected labor effort. Profit estimates on long-term contracts are revised periodically based on changes in circumstances, and any losses on contracts are recognized in the period in which they are deemed to be probable. If the Company determines that a loss is probable, it estimates the loss amount by comparing total estimated contract revenue to the total estimated contract costs. Significant judgment is required in estimating total labor costs and progress to completion on these arrangements, as well as whether a loss is expected to be incurred on the contract due to several factors, including the degree of customization required and the customer’s existing environment. The Company uses historical experience, project plans, and an assessment of the risks and uncertainties inherent in the arrangement to establish these estimates. Uncertainties in these arrangements include implementation delays or performance issues that may or may not be within the Company's control. The Company also has certain product arrangements with significant customization that include contractual terms and customer rights disallowing the use of the percentage of completion method. The Company accounts for these arrangements in accordance with the completed-contract method and recognizes income only when a contract is completed or substantially completed. Generally, the terms of long-term contracts provide for progress billings based on completion of milestones or other defined phases of work. In certain instances, payments collected from customers in advance of recognizing the related revenue are recorded as deferred revenue. Revenue associated with service agreements is generally recognized ratably over the term of the contract, with payments from customers being recorded as deferred revenue. Revenue from repair services or upgrades of customer-owned equipment is recognized upon completion of the repair effort and the shipment of the repaired item back to the customer. If the repair or the upgrade include installation, revenue is recognized when the installation is completed. A portion of the revenue arrangements for our products, particularly in sales of life science automation systems and contamination control solutions, are multiple element arrangements that can include product, service and other elements. For multiple element revenue arrangements, arrangement consideration is allocated to each element based upon their relative selling price using vendor-specific objective evidence, or VSOE, or third-party evidence, or TPE, or based upon the relative selling price using estimated selling prices if VSOE or TPE do not exist. The Company relies primarily on estimated selling prices since it generally does not have VSOE or TPE. The Company recognizes revenue for each element of the arrangement in accordance with its revenue recognition policies. The fair value of any undelivered elements is deferred until the elements are delivered and all other revenue recognition criteria have been met. Research and Development Expense Research and development costs are expensed as incurred. Stock-Based Compensation Expense The Company measures stock-based compensation cost at fair value on the grant date and recognizes the expense over the service period for the awards expected to vest. The fair value of restricted stock units is determined based on the number of shares granted and the closing price of the Company's common stock quoted on NASDAQ on the date of grant. Fair value of stock options is determined based on the Black-Scholes valuation model. The Company recognizes stock-based compensation expense on a straight-line basis, net of estimated forfeitures, over the requisite service period. The Company makes estimates of stock award forfeitures and a number of awards expected to vest which requires significant judgment. The Company considers many factors in developing forfeiture estimates, including award types, employee classes and historical experience. The Company assesses the likelihood of achieving the performance goals for stock-based awards that vest upon the satisfaction of these goals. Current estimates may differ from actual results and future changes in estimates. The following table reflects stock-based compensation expense, excluding amounts related to discontinued operations, recorded during the fiscal years ended September 30, 2015, 2014 and 2013 (in thousands): Year ended September 30, 2015 2014 2013 Restricted stock $ 11,696 $ 10,469 $ 7,112 Employee stock purchase plan 463 445 496 Total stock-based compensation expense $ 12,159 $ 10,914 $ 7,608 Valuation Assumptions for an Employee Stock Purchase Plan The fair value of shares issued under the employee stock purchase plan is estimated on the commencement date of each offering period using the Black-Scholes option-pricing model with the following assumptions for the fiscal years ended September 30, 2015, 2014 and 2013: Year ended September 30, 2015 2014 2013 Risk-free interest rate 0.1 % 0.1 % 0.1 % Volatility 31 % 25 % 32 % Expected life 6 months 6 months 6 months Dividend yield 3.40 % 3.40 % 3.30 - 3.40 The risk-free rate is based on the U.S. Treasury yield curve for notes with terms approximating the expected life of the shares granted. The expected stock price volatility is determined based on the Company's historic stock prices over a period commensurate with the expected life of the shares granted. The expected life represents the weighted average period over which the shares are expected to be purchased. Dividend yields are projected based on the Company's history of dividend declarations and management's intention for future dividend declarations. Income Taxes The Company records income taxes using the asset and liability method. Deferred income tax assets and liabilities are recognized for the future tax differences between the financial statement carrying amounts of existing assets and liabilities and their respective income tax bases, as well as operating loss and tax credit carryforwards. The Company's consolidated financial statements contain certain deferred tax assets that were recorded as a result of operating losses, as well as other temporary differences between financial and tax accounting. A valuation allowance is established against deferred tax assets if, based upon the evaluation of positive and negative evidence and the extent to which that evidence is objectively verifiable, it is more likely than not that some or all of the deferred tax assets will not be realized. Significant management judgment is required in determining the Company's income tax provision, the Company's deferred tax assets and liabilities and any valuation allowance recorded against those net deferred tax assets. The Company evaluates the weight of all available evidence to determine whether it is more likely than not that some portion or all of the net deferred income tax assets will not be realized. The calculation of the Company's tax liabilities involves dealing with uncertainties in the application of complex tax regulations. The Company recognizes liabilities for uncertain tax positions based on a two-step process. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained upon an audit or an examination conducted by taxing authorities, including resolution of related appeals or litigation processes, if any. If the Company determines that a tax position will more likely than not be sustained, the second step requires the Company to estimate and measure the tax benefit as the largest amount that is more likely than not to be realized upon ultimate settlement. It is inherently difficult and subjective to estimate such amounts, as the Company has to determine the probability of various possible outcomes. The Company re-evaluates these uncertain tax positions on a quarterly basis. This evaluation is based on factors, such as changes in facts or circumstances, tax law, new audit activity and effectively settled issues. Determining whether an uncertain tax position is effectively settled requires judgment. A change in recognition or measurement may result in the recognition of a tax benefit or an additional charge to the tax provision. Earnings |
Discontinued Operations
Discontinued Operations | 12 Months Ended |
Sep. 30, 2015 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Discontinued Operations | Discontinued Operations The Granville-Phillips business unit developed, manufactured, sold and serviced vacuum measurement and gas analysis instrumentation to semiconductor and non-semiconductor customers. In March 2014, the Company entered into an agreement to sell this business for $87.0 million in cash. The sale was completed on May 30, 2014. The Company’s historical financial statements have been revised to present the operating results of the Granville-Phillips business as a discontinued operation. Summarized results of the discontinued operation are as follows for the fiscal years ended September 30, 2014 and 2013 (in thousands): Year Ended September 30, 2014 2013 Revenue $ 18,921 $ 28,512 Income from discontinued operations 4,888 $ 7,779 Gain on the sale of the discontinued operations 56,804 — Income tax provision 31,690 2,815 Income from discontinued operations, net of tax $ 30,002 $ 4,964 The operating results of the Granville-Phillips business were historically included in the results of operations for the Brooks Product Solutions segment, except for revenues and expenses associated with support and repair services that were included in the Brooks Global Services segment. The presentation of the Granville-Phillips business as a discontinued operation had no impact on previously reported net income (loss) or stockholders' equity. |
Acquisitions and Divestiture
Acquisitions and Divestiture | 12 Months Ended |
Sep. 30, 2015 | |
Business Combinations [Abstract] | |
Acquisitions | Acquisitions Acquisitions Completed in 2015 Acquisition of Contact Co., Ltd. On August 14, 2015, the Company acquired all of the outstanding stock of Contact Co., Ltd., or Contact, a Japanese-based provider of automated cleaner products for wafer carrier devices used in the global semiconductor markets. The acquisition of Contact expands the Company's offerings of contamination control solutions within its Brooks Product Solutions segment, strengthens its current capabilities and technology used in its contamination control solutions business and enhances its long-term strategy of gaining share in our core semiconductor markets. The aggregate purchase price of $6.8 million , net of cash acquired, consisted of a cash payment of $1.9 million , the assumption of the seller's debt of $8.8 million , seller's cash of $4.8 million and a contingent consideration of 0.8 million payable upon achievement of certain specified targets and events. The entire debt amount was fully repaid as of September 30, 2015. The Company recorded the assets acquired and liabilities assumed related to Contact at their fair values as of the acquisition date. The preliminary amounts recorded were as follows (in thousands): Fair Value of Assets and Liabilities Accounts receivable $ 42 Inventories 2,020 Prepaid expenses and other current assets 484 Property, plant and equipment 1,130 Completed technology 2,290 Goodwill 3,144 Other assets 1,410 Accounts payable (1,089 ) Accrued liabilities (1,823 ) Long-term deferred tax liabilities (774 ) Total purchase price, net of cash acquired $ 6,834 The purchase price was allocated based on the fair value of the identified assets acquired and liabilities assumed as of the acquisition date from a market participant’s perspective. At September 30, 2015, the Company has not yet completed the final allocation of the consideration in connection with the acquisition of Contact, but expects to do so during the measurement period. Fair value of the contingent consideration of $0.8 million was determined based on a probability-weighted average discounted cash flow model and recorded in "Accrued expenses and other current liabilities" in the Company's Consolidated Balance Sheets. The Company remeasures the fair value of the contingent consideration at each reporting date until the arrangement is settled. Please refer to Note 6 “Fair Value Measurements” for further information on the fair value measurement of the contingent consideration. At September 30, 2015, the Company had $1.5 million in escrow account which consisted of $750,000 payable to the sellers upon termination of a certain third-party arrangement and $750,000 related to potential working capital adjustments and the sellers' satisfaction of general representations and warranties. Fair value of the completed technology intangible assets was estimated based on the income approach in accordance with the excess-earnings method. In accordance with the excess-earnings method, the value of the intangible asset is equal to the present value of the after-tax cash flows attributable to the intangible asset only. The weighted average amortization period for the completed technology intangible assets acquired in the Contact acquisition is 5.0 years. The intangible assets acquired are amortized using an accelerated depreciation method which approximates the pattern in which the economic benefits are expected to be realized. Goodwill represents the excess of the consideration transferred over the fair value of the net assets acquired and has been assigned to the Company's Brooks Product Solutions segment. Goodwill is primarily the result of expected synergies from combining the operations of Contact with the Company and is not deductible for tax purposes. The operating results of Contact are insignificant and have been included in the results of operations for the Brooks Product Solutions segment from the date of the acquisition. The Company did not present a pro forma information summary for its consolidated results of operations for the fiscal years ended September 30, 2015 and 2014 as if the acquisition of Contact occurred on October 1, 2013 because such results were insignificant. Acquisition of FluidX Ltd. On October 1, 2014, the Company acquired all of the outstanding stock of FluidX Ltd., or FluidX, a UK-based provider of biological sample storage tubes and complementary bench-top instruments. The Company paid, in cash, aggregate merger consideration of $15.5 million , net of cash acquired. The acquisition of FluidX provided the Company with the opportunity to enhance its existing capabilities with respect to biobanking solutions in the Brooks Life Science Systems segment. The Company recorded the following amounts for the assets acquired and liabilities assumed related to FluidX at their fair values as of the acquisition date (in thousands): Fair Values of Assets and Liabilities Accounts receivable $ 1,980 Inventory 2,857 Prepaid and other current assets 213 Property, plant and equipment 101 Completed technology 1,230 Trademarks and trade names 750 Customer relationships 4,810 Goodwill 8,247 Accounts payable (2,079 ) Deferred revenue (72 ) Accrued liabilities (992 ) Long-term deferred tax liabilities (1,540 ) Total purchase price, net of cash acquired $ 15,505 The purchase price was allocated based on the fair value of the identified assets acquired and liabilities assumed as of the acquisition date from a market participant’s perspective. On January 23, 2015, the Company reached a settlement with respect to certain working capital adjustments with the sellers of FluidX stock. On February 3, 2015, the Company paid such proceeds to the sellers, which increased the purchase price by $0.1 million . At September 30, 2015, the Company had $1.5 million in a general escrow account held by the unrelated third party. The Company finalized the purchase price allocation for FluidX acquisition within the measurement period. Adjustments to the initial purchase price allocation recorded during the measurement period were not material to the Company's financial position. Fair values of the trademarks and the existing technology acquired were estimated based on the income approach in accordance with the relief-from-royalty method. In accordance with the relief-from-royalty method, the value of an intangible asset is equal to the present value of the after-tax royalty savings attributable to owning that intangible asset. Fair value of customer relationships acquired was estimated based on the income approach in accordance with the excess-earnings method. The weighted average amortization periods for intangible assets acquired in the FluidX acquisition are 5.0 years for each of completed technology, trademarks, and customer relationships. The intangible assets acquired are amortized using an accelerated amortization method which approximates the pattern in which the economic benefits are expected to be realized. Goodwill represents the excess of the consideration transferred over the fair value of the net assets acquired and has been assigned to the Company's Brooks Life Science Systems segment. Goodwill is primarily the result of expected synergies from combining the operations of FluidX with the Company and is not deductible for tax purposes. The operating results of FluidX have been included in the results of operations for the Brooks Life Science Systems segment from the date of the acquisition. Revenue and net loss attributable to FluidX for fiscal year 2015 were $15.0 million and $0.6 million , respectively. The net loss for fiscal year 2015 included charges of $1.0 million related to the step-up in value of the acquired inventories and amortization expense of $1.4 million related to the acquired intangible assets. The Company incurred $0.5 million and $0.2 million , respectively, during fiscal years 2015 and 2014 in non-recurring transaction costs with respect to the FluidX acquisition which were recorded in "Selling, general and administrative" expenses within the Consolidated Statements of Operations. The Company did not present a pro forma information summary for its consolidated results of operations for the fiscal year ended September 30, 2014 as if the acquisition of FluidX occurred on October 1, 2013 because such results were insignificant. Acquisitions Completed in 2014 On April 30, 2014, the Company acquired all the outstanding stock of Dynamic Micro Systems Semiconductor Equipment GmbH, or DMS, a German provider of automated contamination control solutions for front opening unified pod, or FOUP, carriers and reticle storage targeted at improving yield of semiconductor processes at semiconductor fabrication plants. The Company paid, in cash, aggregate merger consideration of 31.6 million , net of cash acquired. The acquisition of DMS expanded the Company’s capabilities at semiconductor fabrication plants for yield improvement on new technology nodes. The Company recorded the assets acquired and the liabilities assumed related to DMS at their fair values as of the acquisition date. The amounts recorded were as follows (in thousands): Fair Values of Assets and Liabilities Accounts receivable $ 15,262 Inventory 10,051 Prepaid and other current assets 2,727 Property, plant and equipment 2,049 Completed technology 3,610 Customer relationships 7,100 Goodwill 11,638 Accounts payable (10,393 ) Accrued liabilities (5,522 ) Deferred revenue (1,309 ) Long-term deferred tax liabilities (3,588 ) Total purchase price, net of cash acquired $ 31,625 The purchase price was allocated based on the fair value of the identified assets acquired and liabilities assumed as of the acquisition date from a market participant’s perspective. The Company finalized the purchase price allocation for this acquisition within the measurement period. Adjustments to the initial purchase price allocation recorded during the measurement period were not material to the Company's financial position. The Company reached a settlement with respect to certain working capital adjustments and other issues with the sellers of DMS' stock in the fourth quarter of fiscal year 2014. As a result of this settlement, the Company received $2.2 million in the first quarter of fiscal year 2015 from certain escrow accounts established at the date of acquisition and held by the unrelated third party. At September 30, 2015, $2.8 million remained in escrow related to potential future claims against the sellers of DMS' stock. On October 30, 2015, the Company remitted $2.8 million to the sellers upon expiration of the escrow period. The Company used the relief-from-royalty method to estimate the fair value of the completed technology and the excess-earnings method to estimate the fair value of the customer relationships. The weighted average amortization periods for intangible assets acquired in the DMS acquisition are 5.0 years for completed technologies and 8.0 years for customer relationships. The intangible assets acquired are amortized using variable declining balance and straight-line methods that approximate the pattern in which the economic benefits are expected to be realized. Goodwill represents the excess of the consideration transferred over the net assets acquired and has been assigned to the Company's Brooks Product Solutions segment. Goodwill is primarily the result of expected synergies from combining the operations of DMS with the Company and is not deductible for tax purposes. In the first quarter of fiscal year 2015, the Company increased the opening goodwill balance by $0.3 million as a result of a fair value adjustment recorded to inventory. The operating results of DMS have been included in the results of operations for the Brooks Product Solutions segment from the date of the acquisition. Revenue from DMS was $44.0 million and $5.5 million for fiscal years 2015 and 2014, respectively. Net income attributable to DMS was $3.1 million for fiscal year 2015 and included charges of $0.6 million related to the step-up in values of the acquired inventories, $2.2 million of amortization expense and $0.1 million of restructuring charges during the period then ended. Net loss attributable to DMS was $4.5 million for fiscal year 2014 and included charges of $1.9 million related to the step-up in values of the acquired inventories, $0.9 million of amortization expense and $0.3 million of restructuring charges during the period then ended. The Company incurred $0.4 million during fiscal year 2014 in non-recurring transaction costs with respect to the DMS acquisition which were recorded in "Selling, general and administrative" expenses within the Consolidated Statements of Operations. Acquisitions Completed in 2013 In August 2013, the Company acquired certain assets and assumed certain liabilities of Matrical, Inc.’s, or Matrical, life science businesses (collectively “the Matrical Assets”) for cash consideration of approximately $9.3 million , net of cash acquired. Matrical was a Spokane, Washington-based, privately held company that provided biological sample preparation, management and storage solutions to customers in agricultural biotechnology, biotechnology, life science sample management and pharmaceutical markets. The acquisition of the Matrical Assets provided the Company with the opportunity to enhance its existing product offerings in biobanking and sample management for the Brooks Life Science Systems segment. In October 2012, the Company acquired all the outstanding stock of Crossing Automation Inc., or Crossing, a Fremont, California-based provider of automation solutions and services primarily to global semiconductor front-end markets. The Company paid, in cash, an aggregate merger consideration of $59.0 million , net of cash acquired. The acquisition of Crossing provided the Company with the opportunity to enhance its existing capabilities with respect to manufacturing of atmospheric and vacuum automation solutions within the semiconductor front-end market. The Company recorded the assets and liabilities associated with the purchase of the Matrical Assets and Crossing at their fair values as of their respective acquisition dates. The amounts recorded were as follows (in thousands): Matrical Assets Crossing Accounts receivable $ 636 $ 5,356 Inventory 2,095 8,668 Prepaid and other current assets 103 1,968 Property, plant and equipment 534 2,270 Completed technology 500 10,530 Customer relationships 1,500 20,010 Goodwill 7,076 26,453 Other long-term assets — 885 Debt (902 ) — Accounts payable (294 ) (3,024 ) Deferred revenue (351 ) (319 ) Customer deposits (1,249 ) — Other current liabilities (322 ) (5,560 ) Other long-term liabilities — (8,232 ) Total purchase price, net of cash acquired $ 9,326 $ 59,005 The purchase prices were allocated based upon the fair value of the identified assets acquired and liabilities assumed as of the acquisition date from a market participant’s perspective. The Company finalized the purchase price allocations for these acquisitions within the measurement periods. Subsequent adjustments to the initially reported purchase price allocations were not material to the Company's financial position. The Company used the relief-from-royalty method to estimate the fair value of the completed technology and the excess-earnings method to estimate the fair value of the customer relationships. The weighted-average amortization periods for the intangible assets acquired in connection with the Matrical Assets are 4.6 years for completed technologies and 7.0 years for customer relationships. The intangible assets acquired are amortized using the straight-line method that approximates the pattern in which the economic benefits are expected to be realized. The weighted-average amortization periods for intangible assets acquired in the Crossing acquisition are 7.7 years for completed technologies and 8.0 years for customer relationships. The intangible assets acquired are amortized using the variable declining balance and straight-line methods that approximate the pattern in which the economic benefits are expected to be realized. Goodwill represents the excess of the purchase price over the fair values of the net tangible and intangible assets acquired and is primarily the result of expected synergies from combining the acquired products with the Company’s existing products and integrating the operations of the acquired businesses into those of the Company. The goodwill resulting from the acquisition of the Matrical Assets has been allocated to the Brooks Life Science Systems segment, while goodwill resulting from the Crossing acquisition has been allocated to the Brooks Product Solutions and Brooks Global Services segments. Goodwill from the acquisition of the Matrical Assets is deductible for tax purposes. Goodwill from the acquisition of Crossing is not deductible for tax purposes. |
Marketable Securities
Marketable Securities | 12 Months Ended |
Sep. 30, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Marketable Securities | Marketable Securities The Company invests in marketable securities that are classified as available-for-sale and recorded at fair value in the Company's Consolidated Balance Sheets. Marketable securities reported as current assets represent investments that mature within one year from the balance sheet date. Long-term marketable securities represent investments with maturity dates greater than one year from the balance sheet date. Unrealized gains and losses are excluded from earnings and reported as a separate component of accumulated other comprehensive income until the security is sold or matures. Gains or losses realized from sales of marketable securities are computed based on the specific identification method and recognized in the results of operations as a component of operating income (loss). The following is a summary of the amortized cost and the fair value, including accrued interest receivable, as well as unrealized holding gains (losses) on the short-term and long-term marketable securities as of September 30, 2015 and 2014 (in thousands): Amortized Gross Gross Fair Value September 30, 2015: U.S. Treasury securities and obligations of U.S. government agencies $ 30,343 $ 39 $ — $ 30,382 Corporate securities 54,725 13 (48 ) 54,690 Mortgage-backed securities 857 27 884 Other debt securities 5,056 3 5,059 Municipal securities 30,258 18 (9 ) 30,267 Bank certificate of deposits 12,024 2 12,026 $ 133,263 $ 102 $ (57 ) $ 133,308 September 30, 2014: U.S. Treasury securities and obligations of U.S. government agencies $ 26,052 $ 1 $ (39 ) $ 26,014 Corporate securities 74,614 23 (174 ) 74,463 Mortgage-backed securities 964 36 — 1,000 Other debt securities 7,358 — (10 ) 7,348 Municipal securities 15,888 1 (16 ) 15,873 Bank certificate of deposits 26,645 2 (3 ) 26,644 $ 151,521 $ 63 $ (242 ) $ 151,342 Gross realized gains on sales of available-for-sale marketable securities were approximately $2,000 , $35,000 and $57,000 , respectively, for the fiscal years ended September 30, 2015, 2014 and 2013. Gross realized losses on sales of available-for-sale marketable securities were approximately $5,000 , $8,000 and $36,000 for the fiscal years ended September 30, 2015, 2014 and 2013, respectively. Gross realized gains and losses were included as a component of "Other income, net" in the accompanying Consolidated Statements of Operations. Unrealized net holding (losses) gains on available-for-sale marketable securities of approximately $ (3,000) , $ 26,000 and $ 21,000 , respectively, were reclassified from Accumulated Other Comprehensive Income into the results of operations at the time of the securities' sale during fiscal years ended September 30, 2015, 2014 and 2013. Please refer to Note 15, "Stockholders' Equity", for further information on these reclassifications and their impact on the Accumulated Other Comprehensive Income and Other Comprehensive Income for the fiscal years ended September 30, 2015, 2014 and 2013. The fair values of the marketable securities by contractual maturities at September 30, 2015 are presented below (in thousands). Expected maturities could differ from contractual maturities because the security issuers may have the right to prepay obligations without prepayment penalties. Fair Value Due in one year or less $ 70,021 Due after one year through five years 60,156 Due after ten years 3,131 $ 133,308 The Company reviews the marketable securities for impairment at each reporting period to determine if any of the securities have experienced an other-than-temporary decline in fair value. The Company considers factors, such as the length of time and extent to which the market value has been less than the cost, the financial condition and near-term prospects of the issuer, the Company's intent to sell, or whether it is more likely than not it will be required to sell the investment before recovery of its amortized cost basis. If the Company believes that an other-than-temporary decline in fair value has occurred, it writes down the investment to fair value and recognizes the credit loss in earnings and the non-credit loss in accumulated other comprehensive income. During fiscal years 2015 and 2014, the marketable securities were not considered other-than-temporarily impaired and, as such, the Company did not recognize impairment losses during the periods then ended. Unrealized losses are attributable to changes in interest rates. |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Sep. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Fair Value Measurements The fair value measurement guidance establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The following levels of inputs may be used to measure fair value: Level 1 Inputs: Quoted prices in active markets for identical assets or liabilities as of the reporting date. Active markets are those in which transactions for the asset and liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 2 Inputs: Observable inputs other than prices included in Level 1, including quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 Inputs: Unobservable inputs that are significant to the fair value of the assets or liabilities and reflect an entity's own assumptions in pricing assets or liabilities since they are supported by little or no market activity. The following tables summarize assets and liabilities measured and recorded at fair value on a recurring basis in the accompanying Consolidated Balance Sheets as of September 30, 2015 and 2014 (in thousands): Fair Value Measurements at Reporting Date Using Description September 30, Quoted Prices in Significant Other Significant Assets: Cash equivalents $ 11,628 $ 10,133 $ 1,495 $ — Available-for-sale securities 133,308 — 133,308 — Foreign exchange contracts 89 89 — Convertible debt securities $ 5,337 $ — $ — $ 5,337 Stock warrants 59 — — 59 Total Assets $ 150,421 $ 10,133 $ 134,892 $ 5,396 Liabilities: Contingent consideration $ 811 $ — $ — $ 811 Foreign exchange contracts 36 — 36 — Total Liabilities $ 847 $ — $ 36 $ 811 The convertible debt securities and stock warrants are included in "Other assets" in the accompanying Consolidated Balance Sheets as of September 30, 2015 and 2014. Please refer to Note 9, "Equity Method Investments" for further information on the convertible debt securities and stock warrants. Fair Value Measurements at Reporting Date Using Description September 30, Quoted Prices in Significant Other Significant Assets: Cash equivalents $ 6,404 $ 5,166 $ 1,238 $ — Available-for-sale securities 151,342 — 151,342 — Total Assets $ 157,746 $ 5,166 $ 152,580 $ — Liabilities: Foreign exchange contracts $ 58 $ — $ 58 $ — Cash Equivalents Cash equivalents of $10.1 million and $5.2 million at September 30, 2015 and 2014, respectively, consist of Money Market Funds and are classified within Level 1 of the fair value hierarchy because they are valued using quoted market prices in active markets. Cash equivalents of $1.5 million and $1.2 million at September 30, 2015 and 2014, respectively, consist primarily of Bank Certificate of Deposits and are classified within Level 2 of the fair value hierarchy because they are not actively traded. Available-For-Sale Securities Available-for-sale securities of $133.3 million and $151.3 million at September 30, 2015 and 2014, respectively, consist of Municipal Securities, Bank Certificate of Deposits, Commercial Paper, Mortgage-Backed Securities, as well as U.S. Treasury Securities and Obligations of U.S. Government Agencies. The securities are valued using matrix pricing and benchmarking and classified within Level 2 of the fair value hierarchy because they are not actively traded. Matrix pricing is a mathematical technique used to value securities by relying on the securities’ relationship to other benchmark quoted prices. Foreign Exchange Contracts Foreign exchange contract assets and liabilities amount to $ 89,000 and $36,000 , respectively, at September 30, 2015. Foreign exchange contract liabilities amount to $0.1 million at September 30, 2014. Foreign exchange contract assets and liabilities are measured and reported at fair value based on observable market inputs and classified within Level 2 of the fair value hierarchy due to a lack of an active market for these contracts. Contingent Consideration Contingent consideration liability of 0.8 million at September 30, 2015 is classified within Level 3 of the fair value hierarchy and measured at fair value based on the probability-weighted average discounted cash flow model utilizing potential outcomes related to achievement of certain specified targets and events. The fair value measurement of the contingent consideration is based on probabilities assigned to each potential outcome and the discount rate. The Company remeasures the fair value of the contingent consideration at each reporting date and recognizes the corresponding fair value change related to the underlying inputs in the operating expenses. Please refer to Note 4 “Acquisitions” for further information on the contingent consideration liability. Convertible Debt Securities Convertible debt securities of $5.3 million at September 30, 2015 are classified within Level 3 of the fair value hierarchy and measured at fair value based on the probability-weighted expected return method, or PWERM, utilizing various scenarios for the expected payout of the instrument covering the full range of the potential outcomes. The PWERM determines the value of an asset based upon an analysis of future values for the subject asset and full range of its potential values. The asset value is based upon the present value of the probability of each future outcome becoming available to the asset and the economic rights and preferences of each asset. Stock Warrants Stock warrants of $0.1 million at September 30, 2015 are classified within Level 3 of the fair value hierarchy and measured at fair value based on the Black-Scholes model. The Black-Scholes model applied to a warrant incorporates the constant price variation of the underlying asset, the time value of money, the warrant’s strike price and the time until the warrant’s expiration date. The fair value of the warrants was determined utilizing a five year equity volatility percentage based on an average equity volatility derived from comparable public companies. The carrying amounts of cash, cash equivalent, accounts receivable and accounts payable approximate their fair value due to their short-term nature. The following table presents the reconciliation of the assets measured and recorded at fair value on a recurring basis using significant unobservable inputs (Level 3) (in thousands): Convertible Debt Securities Stock Warrants Contingent Consideration Total Balance at September 30, 2014 $ — $ — $ — $ — Additions (1) 4,934 75 811 5,820 Change in fair value 403 (16 ) — 387 Balance at September 30, 2015 $ 5,337 $ 59 $ 811 $ 6,207 _________________ (1) Please refer to Note 9, "Equity Method Investments". Nonrecurring Fair Value Measurements Note receivable of $1.0 million at September 30, 2015 is recorded at carrying value in the accompanying Consolidated Balance Sheets. During fiscal year 2014, the Company evaluated the recoverability of the note receivable from its strategic partner, or Borrower, and adjusted the note to fair value of $1.0 million as of September 30, 2014. The Company considered the fair value of the collateral determined based on valuation techniques, principally the discounted cash flow method, and the subordination of the note to the debt provided by the new lender. Fair value measurement was classified within Level 3 of the fair value hierarchy since it was based on unobservable inputs and required significant management judgment. The fair value of the note receivable could be different under different conditions or different assumptions, including the varying assumptions regarding future cash flows of the Borrower or discount rates. Please refer to Note 11, "Note Receivable" for further information on the note. As of September 30, 2015, the building and the underlying land located in Oberdiessbach, Switzerland were presented at fair value of $2.9 million as "Assets Held for Sale" in the accompanying Consolidated Balance Sheets. The Company determined fair value of the assets held for sale based on indication of value resulting from marketing the building and the land to prospective buyers. Fair value measurement is classified within Level 3 of the fair value hierarchy since it is based on unobservable inputs. Certain non-financial assets, including goodwill, finite-lived intangible assets and other long-lived assets, are measured at fair value on a non-recurring basis in accordance with the income approach when there is an indication of impairment. Please refer to Note 2, "Summary of Significant Accounting Policies" for further information on the valuation techniques used in developing these measurements. |
Property, Plant and Equipment
Property, Plant and Equipment | 12 Months Ended |
Sep. 30, 2015 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment | Property, Plant and Equipment Property, plant and equipment were as follows as of September 30, 2015 and 2014 (in thousands): September 30, 2015 2014 Buildings and land $ 43,765 $ 47,639 Computer equipment and software 58,715 59,962 Machinery and equipment 43,185 42,104 Furniture and fixtures 5,310 4,774 Leasehold improvements 13,617 17,771 Capital projects in progress 4,427 1,528 169,019 173,778 Less accumulated depreciation and amortization (127,164 ) (123,595 ) Property, plant and equipment, net $ 41,855 $ 50,183 Depreciation expense, excluding amounts related to the discontinued operations, was $12.3 million , $12.7 million and $13.7 million for the fiscal years ended September 30, 2015, 2014 and 2013, respectively. During fiscal year 2015, the Company was leasing one of the buildings in Chelmsford, Massachusetts which was purchased for a total price of $ 8.4 million on September 30, 2015. Please refer to Note 21, "Commitments and Contingencies" for further information on this transaction. During fiscal year 2013, the Company sold an underutilized building and the related land located on its Chelmsford, Massachusetts campus to a real estate investment trust for $11.3 million . This property was leased to an unrelated third party prior to the sale. Direct transaction costs, consisting of broker commissions and legal fees, and unamortized deferred costs of $3.7 million , consisting primarily of commissions and tenant allowances, were written off and included in the determination of the gain on the sale. The components of the gain on the sale recognized in fiscal year 2013 are as follows (in thousands): Amount Sale proceeds $ 11,275 Net book value of building and land (6,095 ) Deferred leasing costs and other (3,718 ) Direct transaction costs (437 ) Gain on the sale of building and land $ 1,025 In addition, the Company sold certain buildings in Oberdiessbach, Switzerland during fiscal year 2013 for total proceeds of $3.2 million . The sale of these buildings resulted in a gain of $0.2 million which was recognized in the Company's results of operations during fiscal year 2013. Gains related to the sale of these buildings are recorded as a component of "Other income, net" in the accompanying Consolidated Statements of Operations. As of September 30, 2015, the building and the underlying land with a carrying value of $ 4.8 million located in Oberdiessbach, Switzerland were presented as "Assets Held for Sale" in the accompanying Consolidated Balance Sheets. The Company determined fair value of the assets held for sale based on indication of value resulting from marketing the building and the land to prospective buyers. The Company recognized a loss of $1.9 million in its results of operations during fiscal year 2015 for the difference between the assets' fair value of $2.9 million and the carrying value of $ 4.8 million . |
Goodwill and Intangible Assets
Goodwill and Intangible Assets | 12 Months Ended |
Sep. 30, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets | Goodwill and Intangible Assets The components of the Company’s goodwill by an operating segment at September 30, 2015 and 2014 are as follows (in thousands): Brooks Brooks Brooks Other Total Gross goodwill, at September 30, 2013 $ 482,637 $ 156,792 $ 47,439 $ 26,014 $ 712,882 Accumulated goodwill impairments (437,706 ) (151,238 ) — (26,014 ) (614,958 ) Goodwill, net of accumulated impairments, at September 30, 2013 44,931 5,554 47,439 — 97,924 Acquisitions and adjustments 11,638 — (61 ) — 11,577 Gross goodwill, at September 30, 2014 494,275 156,792 47,378 26,014 724,459 Accumulated goodwill impairments (437,706 ) (151,238 ) — (26,014 ) (614,958 ) Goodwill, net of accumulated impairments, at September 30, 2014 56,569 5,554 47,378 — 109,501 Acquisitions and adjustments 3,660 — 8,247 — 11,907 Gross goodwill, at September 30, 2015 497,935 156,792 55,625 26,014 736,366 Accumulated goodwill impairments (437,706 ) (151,238 ) — (26,014 ) (614,958 ) Goodwill, net of accumulated impairments, at September 30, 2015 $ 60,229 $ 5,554 $ 55,625 $ — $ 121,408 Goodwill is tested for impairment annually or more often if impairment indicators are present, at the reporting unit level. Prior to fiscal year 2015, the Company conducted its annual goodwill impairment test as of its fiscal year end, or September 30th. Beginning with fiscal year 2015, the Company changed the date of its annual goodwill impairment test from September 30th to April 1st to align more closely with its annual strategic planning process. This change did not delay, accelerate, or avoid an impairment charge and did not result in adjustments to the Company's consolidated financial statements when applied retrospectively. During fiscal year 2015, the Company completed the annual goodwill impairment test and determined that no adjustment to goodwill was necessary since the fair value of all reporting units substantially exceeded their respective carrying values. The change in the annual impairment test date did not have an impact on the Company's financial position and results of operations during the fiscal year ended September 30, 2015. No triggering events indicating goodwill impairment occurred subsequent to the test date. The Company determines fair values of its reporting units based on an Income Approach in accordance with the DCF Method. The observable inputs used in the DCF Method include discount rates set above the Company's weighted-average cost of capital. The Company derives discount rates that are commensurate with the risks and uncertainties inherent in the respective businesses and its internally developed projections of future cash flows. Please refer to Note 2, "Summary of Significant Accounting Policies" for a detailed description of the Company's goodwill impairment testing process and the valuation techniques used in developing the related fair value measurements. The Company tests certain long-lived assets when impairment indicators are present. During fiscal year 2013, the Company determined that impairment indicators were present for the finite-lived intangible assets related to the Celigo product line. The assets were tested for recoverability by comparing the sum of the undiscounted cash flows directly attributable to the assets to their carrying values, which resulted in the conclusion that the carrying amounts of the assets were not recoverable. The fair values of the assets were determined based primarily on market-based valuation techniques, and an impairment loss of $2.0 million was recognized during fiscal year 2013. The loss amount was allocated to the long-lived assets in the impaired asset group based on the carrying value of each asset, with no asset reduced below its respective fair value. The Company revised its estimate of the fair value of these assets in fiscal year 2014 and recorded an additional impairment loss of $0.4 million within cost of revenue in its Consolidated Statements of Operations for the fiscal years ended September 30, 2014. The impairment loss was recorded in the Brooks Life Science Systems segment. The Company completed the sale of the Celigo product line during fiscal year 2014 which did not have a material impact on the Company's financial position or results of operations for the period then ended. The components of the Company’s identifiable intangible assets as of September 30, 2015 and 2014 are as follows (in thousands): September 30, 2015 September 30, 2014 Cost Accumulated Net Book Cost Accumulated Net Book Patents $ 7,808 $ 7,394 $ 414 $ 7,808 $ 7,300 $ 508 Completed technology 60,748 46,718 14,030 57,155 41,539 15,616 Trademarks and trade names 4,241 3,604 637 3,496 3,496 — Customer relationships 77,716 37,351 40,365 73,389 29,963 43,426 $ 150,513 $ 95,067 $ 55,446 $ 141,848 $ 82,298 $ 59,550 Amortization expense for intangible assets, excluding amounts related to the discontinued operations, was $12.9 million , $10.6 million and $9.8 million for the fiscal years ended September 30, 2015, 2014 and 2013, respectively. Estimated future amortization expense for the intangible assets as of September 30, 2015 is as follows (in thousands): Year ended September 30, 2016 $ 12,180 2017 11,037 2018 8,677 2019 7,945 2020 7,224 Thereafter 8,383 $ 55,446 |
Equity Method Investments and O
Equity Method Investments and Other Investments | 12 Months Ended |
Sep. 30, 2015 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Equity Method Investments and Other Investments | Equity Method and Other Investments The Company accounts for certain of its investments using the equity method of accounting and records its proportionate share of the investee's earnings (losses) in its results of operations with a corresponding increase (decrease) in the carrying value of the investment. BioCision, LLC In March 2014, the Company acquired a 22% equity interest in BioCision, LLC, or BioCision, a privately-held company based in Larkspur, California, for $4.0 million . During fiscal year 2015, the Company's equity investment was diluted from 22% to 20% as a result of stock options granted to new employees. BioCision develops, manufactures and markets cell cryopreservation products used to improve and standardize the tools and methods for biomaterial sample handling. The Company determined that BioCision represented a variable interest entity since the level of equity investment at risk was not sufficient to finance its activities without additional financial support. However, the Company does not qualify as a primary beneficiary since it does not have the power to direct BioCision's product research, development, selling and marketing activities that have the most significant impact on its economic performance. The Company's loss exposure is limited to the amount of its investment since it has no future contractual funding commitments to BioCision. As such, the Company concluded that BioCision should not be consolidated in its financial statements. During the fiscal years ended September 30, 2015 and 2014, the Company recorded a loss of $1.0 million and $0.3 million , respectively, representing its proportional share in the BioCision's losses. The carrying value of the investment in BioCision is $2.7 million and $3.7 million , respectively, at September 30, 2015 and 2014. The Company purchased BioCision's five -year convertible debt securities with a warrant agreement to purchase preferred units of BioCision for $2.5 million on December 22, 2014 and February 2, 2015 for a total purchase price of $5.0 million . The convertible debt securities were recorded at fair value and accounted for in accordance with the fair value method. The warrants were recorded at fair value and accounted for as a derivative. At September 30, 2015, the fair values of the convertible debt securities and warrants are $5.3 million and $0.1 million , respectively. For further information regarding the convertible debt securities and warrants, please refer to Note 6, “Fair Value Measurements”. The Company re-measures the fair values of the BioCision convertible debt securities and warrants during each reporting period and recognizes the respective gains or losses in its results of operations. The Company recognized remeasurement gains of $0.4 million during fiscal year ended September 30, 2015. Interest accrues on the convertible debt securities at a rate of 9% per annum, and is due with the principal at maturity. As a result of providing the additional funding to BioCision, the Company reconsidered whether BioCision represents a variable interest entity subject to consolidation. The Company concluded that BioCision remains a variable interest entity since the level of equity investment at risk is not sufficient to finance its activities without additional financial support. However, the Company does not qualify as a primary beneficiary since it does not have the power to direct BioCision's product research, development, selling and marketing activities that have the most significant impact on its economic performance. As such, the Company concluded that BioCision should not be consolidated in its financial statements. ULVAC Cryogenics, Inc. The Company participates in a 50% joint venture, ULVAC Cryogenics, Inc., or UCI, with ULVAC Corporation of Chigasaki, Japan. UCI manufactures and sells cryogenic vacuum pumps, principally to ULVAC Corporation. The carrying value of the investment in UCI is $21.5 million and $22.6 million , respectively, at September 30, 2015 and 2014. During the fiscal years ended September 30, 2015, 2014 and 2013, the Company recorded an income of $1.4 million , $1.6 million and $2.6 million , respectively, representing its proportionate share of the UCI's earnings. Management fee payments received by the Company from UCI were $0.6 million during each fiscal year ended September 30, 2015, 2014 and 2013, respectively. During the fiscal years ended September 30, 2015, 2014 and 2013, the Company incurred charges from UCI for products or services of $0.4 million , $0.4 million and $0.5 million , respectively. At September 30, 2015 and 2014, the Company owed UCI $54,000 and $79,000 , respectively, in connection with accounts payable for unpaid products and services. During the fiscal years ended September 30, 2015 and 2014, the Company received $0.6 million and $0.9 million , respectively, of cash dividends from UCI which reduced the carrying value of the Company's investment. Yaskawa Brooks Automation, Inc. The Company participated in a 50% joint venture with Yaskawa Electric Corporation, or Yaskawa, called Yaskawa Brooks Automation, Inc., or YBA, which came to closure in March 2015 and was liquidated on September 3, 2015. YBA exclusively marketed and sold Yaskawa’s semiconductor robotics products and Brooks’ automation hardware products to semiconductor customers in Japan. During the first quarter of fiscal year 2015, the Company and Yaskawa agreed in principle to dissolve the joint venture. On January 22, 2015, the Company entered into an agreement with YBA to facilitate the acquisition of certain assets and liabilities by the Company’s subsidiary in Japan. In accordance with provisions of the joint venture's agreement, on March 20, 2015, the Company purchased the net assets of YBA for cash consideration of approximately $ 1.8 million . The Company recorded the assets received and liabilities assumed from YBA at fair value as of the acquisition date. As a result of the transaction, the Company recorded $ 0.2 million of goodwill, representing the excess of the consideration transferred over the fair value of the net assets acquired. The Company received a final dividend of $1.8 million upon liquidation of YBA and incurred liquidation costs of $ 0.2 million during fiscal year 2015. During fiscal year 2015, YBA assessed the recoverability of assets held by the joint venture in connection with its planned dissolution and notified its equity partners of the asset impairment. As a result, the Company recorded an impairment charge of $0.7 million during fiscal year 2015 to write down the carrying value of its equity investment in YBA to its fair value. During the fiscal years ended September 30, 2015, 2014 and 2013, the Company recorded a loss of $ (0.6) million , $(0.1) million and $(0.2) million , respectively, representing its proportionate share of the YBA's losses. The carrying value of the investment in YBA was $2.6 million at September 30, 2014. During the fiscal years ended September 30, 2015, 2014 and 2013, revenue earned by the Company from YBA was $ 2.5 million , $7.4 million and $6.3 million , respectively. During the fiscal years ended September 30, 2015, 2014 and 2013, the Company incurred charges from YBA for products or services of $ 0.7 million , $0.7 million and $0.5 million , respectively. There were no amounts receivable by the Company from YBA or owed by the Company to YBA at September 30, 2015. At September 30, 2014, the Company had a balance of $2.1 million , respectively, receivable from YBA which was included in accounts receivable in the accompanying Consolidated Balance Sheets. At September 30, 2014, the Company owed YBA $0.1 million , respectively, in connection with accounts payable for unpaid products and services. |
Earnings per Share
Earnings per Share | 12 Months Ended |
Sep. 30, 2015 | |
Earnings Per Share [Abstract] | |
Earnings per Share | Earnings per Share The calculations of basic and diluted net income (loss) per share and basic and diluted weighted average shares outstanding are as follows for the fiscal years ended September 30, 2015, 2014 and 2013 (in thousands, except per share data): Year ended September 30, 2015 2014 2013 Income (loss) from continuing operations $ 14,221 $ 1,520 $ (7,114 ) Income from discontinued operations, net of tax — 30,002 4,964 Net income (loss) 14,221 31,522 (2,150 ) Net income attributable to noncontrolling interests — (161 ) (65 ) Net income (loss) attributable to Brooks Automation, Inc. $ 14,221 $ 31,361 $ (2,215 ) Weighted average common shares outstanding used in computing basic earnings per share 67,411 66,648 65,912 Dilutive common stock options and restricted stock units 1,138 996 — Weighted average common shares outstanding used in computing diluted earnings per share 68,549 67,644 65,912 Basic net income (loss) per share attributable to Brooks Automation, Inc. common stockholders: Income (loss) from continuing operations $ 0.21 $ 0.02 $ (0.11 ) Income from discontinued operations, net of tax — 0.45 0.08 Basic net income (loss) per share attributable to Brooks Automation, Inc. $ 0.21 $ 0.47 $ (0.03 ) Diluted net income (loss) per share attributable to Brooks Automation, Inc. common stockholders: Income (loss) from continuing operations $ 0.21 $ 0.02 $ (0.11 ) Income from discontinued operations, net of tax — 0.44 0.08 Diluted net income (loss) per share attributable to Brooks Automation, Inc. common stockholders $ 0.21 $ 0.46 $ (0.03 ) Approximately 120,000 shares of unvested restricted stock units were excluded from the computation of diluted earnings per share for the fiscal year ended September 30, 2015 as their effect would be anti-dilutive based on the treasury stock method. Options to purchase approximately 11,000 shares of common stock were excluded from the computation of diluted earnings per share attributable to Brooks Automation, Inc. common stockholders for the fiscal years ended September 30, 2014 as their effect would be anti-dilutive based on the treasury stock method. There were no anti-dilutive restricted stock awards for the fiscal year ended September 2014. Options to purchase approximately 43,000 shares of common stock and 3,006,000 shares of unvested restricted stock units were excluded from the computation of diluted earnings per share for the fiscal year ended September 30, 2013 as a result of the net loss for that period. On November 4, 2015 , the Company's compensation committee and Board of Directors authorized and approved the annual grant of 1,204,000 restricted stock units with a grant date of November 4, 2015 . |
Note Receivable
Note Receivable | 12 Months Ended |
Sep. 30, 2015 | |
Receivables [Abstract] | |
Note Receivable | Note Receivable In fiscal year 2012, the Company provided a strategic partner, or the Borrower, a loan of $3.0 million to support the Borrower's future product development and other working capital requirements. The loan initially bore a stated interest rate of 9% , and the outstanding principal and interest were initially due in May 2015. The Company also received a warrant to purchase the Borrower's common stock in the event of an equity offering by the Borrower and certain other rights related to conversion of the loan, including the first refusal to acquire the Borrower and a redemption premium. The loan was initially secured by a security agreement granting the Company a first-priority security interest in all of the Borrower's assets. The Company determined that the Borrower represented a variable interest entity since the level of equity investment at risk was not sufficient for the entity to finance its activities without additional financial support. However, the Company does not qualify as the primary beneficiary since it would not absorb the majority of the expected losses from the Borrower and does not have the power to direct the Borrower's product research, development and marketing activities that have the most significant impact on its economic performance. The Company has no future contractual funding commitments to the Borrower and, as a result, the Company's exposure to loss is limited to the outstanding principal and interest due on the loan. During the third quarter of fiscal year 2014, the Borrower informed the Company of its intent to secure additional funding from an investment program funded by the Commonwealth of Massachusetts designed to support early-stage companies. In connection with the Borrower’s efforts to secure additional financing, the Company agreed to subordinate its security interest in the assets of the Borrower to the new lender. Additionally, the Company agreed to extend the due date of its loan by approximately 5 years , to September 2019, in order to coincide with the due date of the new loan. The amended loan has a stated interest rate of 10% . In connection with its efforts to secure additional financial support, the Borrower developed revised assumptions about its future cash flows. Based on the information provided by the Borrower and the subordination of the loan to the new lender, the Company determined it was probable that it would not recover all amounts due from the loan and recorded an impairment charge of $2.6 million during the third quarter of fiscal year 2014. The impairment charge included the warrant write-off and was recorded in the selling, general and administrative expenses in the Company's Consolidated Statements of Operations. The fair value of the loan was determined by considering the fair value of the collateral using valuation techniques, principally the discounted cash flow method, reduced by the amounts committed to the new lender. The observable inputs used in the Company's analysis were limited primarily to the discount rate, which was based on a rate commensurate with the risks and uncertainties of the Borrower. As a result, the fair value of the loan could vary under different conditions or assumptions, including the varying assumptions regarding future cash flows of the Borrower or discount rates. At September 30, 2015 and 2014, the carrying value of the note receivable was $ 1.0 million . No triggering events indicating impairment of the note receivable occurred during the fiscal year ended September 30, 2015. |
Derivative Instruments
Derivative Instruments | 12 Months Ended |
Sep. 30, 2015 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Instruments | Derivative Instruments Prior to fiscal year 2014, the Company was a party to foreign exchange contracts to reduce its exposure to changes in foreign exchange rates associated with an order for multiple automated sample management systems. The Company concluded that these foreign currency contracts met the criteria to qualify as a cash flow hedge. Accordingly, the Company reflected changes in the fair value of the effective portion of these foreign currency contracts in accumulated other comprehensive income. In the third quarter of fiscal year 2014, the Company reclassified the realized gain of $0.1 million on these contracts from accumulated other comprehensive income into revenue to coincide with recognition of the hedged transaction. Please refer to Note 15, "Stockholders' Equity", for further information on this reclassification and its impact on the accumulated other comprehensive income and other comprehensive income for the fiscal year 2014. The Company did not recognize any amounts related to hedging ineffectiveness of these contracts in the results of operations for the fiscal year ended September 30, 2014. As of September 30, 2014, the Company did not have any notional amounts outstanding under foreign currency contracts that qualified for cash flow hedge accounting. The Company has transactions and balances denominated in currencies other than the U.S. dollar. Most of these transactions or balances are denominated in Euros, British Pounds and a variety of Asian currencies. These transactions and balances, including short-term advances between the Company and its subsidiaries, subject the Company's operations to exposure from exchange rate fluctuations. The impact of currency exchange rate movement can be positive or negative in any period. The Company mitigates the impact of potential currency translation gains and losses on short-term intercompany advances through timely settlement of each transaction, generally within 30 days. The Company also enters into foreign exchange contracts to reduce its exposure to currency fluctuations. Under forward contract arrangements, the Company typically agrees to purchase a fixed amount of U.S. dollars in exchange for a fixed amount of a foreign currency on specified dates with maturities of three months or less. These transactions do not qualify for hedge accounting. Net gains and losses related to these contracts are recorded as a component of "Other income, net" in the accompanying Consolidated Statements of Operations and are as follows for the fiscal years ended September 30, 2015, 2014 and 2013 (in thousands): Years Ended September 30, 2015 2014 2013 Realized gains on derivatives not designated as hedging instruments $ 628 $ 185 $ 123 The Company had the following notional amounts outstanding under foreign currency contracts that do not qualify for hedge accounting at September 30, 2015 and 2015 (in thousands): September 30, 2015: Buy Currency Notional Amount Sell Currency Maturity Notional Amount Fair Value of Fair Value of U.S. Dollar 1,543 Korean Won October 2015 1,852,000 $ — $ (6 ) British Pound 2,157 Euro October 2015 1,600 — (29 ) U.S. Dollar 1,336 Japanese Yen December 2015 160,000 2 — U.S. Dollar 662 Taiwan Dollar October 2015 22,000 (1 ) U.S. Dollar 4,308 British Pound October 2015 6,520 32 — U.S. Dollar 5,177 Chinese Yuan October 2015 33,000 15 — Euro 9,300 U.S. Dollar October 2015 8,253 40 — U.S. Dollar 425 Japanese Yen October 2015 51,000 — — U.S. Dollar 457 Israeli Shekel October 2015 1,800 — — 89 (36 ) September 30, 2014: Buy Currency Notional Amount Sell Currency Maturity Notional Amount Fair Value of Fair Value of U.S. dollar 1,736 Japanese yen October 2014 to December 2014 190,000 $ — $ 11 U.S. dollar 1,395 Euro October 2014 1,100 — 16 U.S. dollar 656 Taiwan dollar October 2014 20,000 — 5 U.S. dollar 650 British pound October 2014 400 — 5 U.S. dollar 731 Israeli shekel October 2014 2,700 — 5 U.S. dollar 76 Korean won October 2014 80,000 — 1 British pound 3,513 Euro October 2014 4,500 — 15 $ — $ 58 The fair values of the forward contracts described above are recorded in the Company's Consolidated Balance Sheets as prepaid expenses and other current assets and accrued expenses and other current liabilities. Stock Warrants The BioCision warrant agreements contain net share settlement provisions, which permit the Company to pay the warrant exercise price using shares issuable under the warrants (“cashless exercise”). The value of the stock warrants fluctuates primarily in relation to the value of BioCision's underlying securities, either providing an appreciation in value or potentially expiring with no value. Gains and losses on the revaluation of the stock warrants are recognized as a component of "Other income, net" in the accompanying Consolidated Statements of Operations. Please refer to Note 6 “Fair Value Measurements” for further information regarding the fair value of the stock warrants. |
Income Taxes
Income Taxes | 12 Months Ended |
Sep. 30, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes The components of the income tax provision (benefit), excluding amounts related to the discontinued operations, for the fiscal years ended September 30, 2015, 2014 and 2013 are as follows (in thousands): Year Ended September 30, 2015 2014 2013 Current income tax provision: Federal $ 10 $ 15 $ 15 State 56 177 70 Foreign 5,537 1,417 681 Total current income tax provision 5,603 1,609 766 Deferred income tax benefit: Federal (1,773 ) (2,276 ) (5,245 ) State (104 ) (35 ) (183 ) Foreign (296 ) (1,278 ) (323 ) Total deferred income tax benefit (2,173 ) (3,589 ) (5,751 ) Income tax provision (benefit) $ 3,430 $ (1,980 ) $ (4,985 ) The components of income (loss) before income taxes and equity in earnings (losses) of equity method investments for the fiscal years ended September 30, 2015, 2014 and 2013 are as follows (in thousands): Year Ended September 30, 2015 2014 2013 Domestic $ (1,321 ) $ (7,338 ) $ (14,747 ) Foreign 19,136 5,643 206 $ 17,815 $ (1,695 ) $ (14,541 ) The differences between the income tax provision (benefit) and income taxes computed using the applicable U.S. statutory federal tax rate for the fiscal years ended September 30, 2015, 2014 and 2013 are as follows (in thousands): Year Ended September 30, 2015 2014 2013 Income tax provision (benefit) computed at federal statutory rate $ 6,177 $ (217 ) $ (4,257 ) State income taxes, net of federal benefit 243 (12 ) (101 ) Foreign income taxed at different rates (938 ) (596 ) 493 Dividends (1,069 ) (1,373 ) 115 Change in deferred tax asset valuation allowance (36 ) 453 523 Reduction in uncertain tax positions (1,207 ) (1,236 ) (1,022 ) Nondeductible compensation 1,325 1,064 474 Tax credits (1,741 ) (704 ) (2,002 ) Travel and entertainment 314 220 124 Merger costs 228 187 251 Other 134 234 417 Income tax provision (benefit) $ 3,430 $ (1,980 ) $ (4,985 ) The Company has not provided for U.S. income taxes on the unremitted earnings of certain foreign subsidiaries as these earnings are considered to be indefinitely reinvested. These earnings amounted to approximately $40.3 million , $25.2 million and $17.5 million , at September 30, 2015, 2014 and 2013, respectively. It is not practicable to compute the estimated deferred tax liability on these earnings as they depend on numerous factors and vary based on the timing of future remittances and the future results of various foreign operations. The significant components of the net deferred tax assets and liabilities as of September 30, 2015 and 2014 are as follows (in thousands): September 30, 2015 2014 Accruals and reserves not currently deductible $ 9,602 $ 12,456 Federal, state and foreign tax credits 22,115 20,434 Other assets 5,939 3,523 Net operating loss carryforwards 63,569 67,380 Inventory reserves and valuation 10,598 9,956 Deferred tax assets 111,823 113,749 Depreciation and intangible amortization 9,388 12,198 Deferred tax liabilities 9,388 12,198 Valuation allowance (18,797 ) (18,354 ) Net deferred tax asset $ 83,638 $ 83,197 Management has considered the weight of all available evidence in determining whether a valuation allowance should be established against its deferred tax assets at September 30, 2015. Based on the consideration of both positive and negative evidence, management has concluded that it is more likely than not that a substantial portion of its deferred tax assets will be realized. The positive evidence considered included three year U.S. historical cumulative profitability, projected future taxable income and length of carry-forward periods of net operating losses and tax credits. The primary negative evidence considered was the volatility of the semiconductor industry in which the Company operates. The Company maintains a valuation allowance in the United States against certain tax credits and state net operating losses due to the uncertainty of their realization based on long-term Company forecasts and the expiration dates on these attributes. The Company also maintains a valuation allowance in certain jurisdictions that have not generated historical cumulative profitability. It is reasonably possible that the valuation allowance may change in future periods if future operating results of the U.S. or foreign jurisdictions deviate from the Company's expectations, which would result, in whole or in part, in a non-cash income tax expense or benefit recognized during the period of change. As of September 30, 2015, the Company had federal, state and foreign net operating loss carryforwards of approximately $133.6 million , $101.1 million and $23.6 million , respectively, and federal and state research and development tax credit carryforwards of approximately $23.8 million available to reduce future tax liabilities, which expire at various dates through 2035 . The net operating loss carryforward includes excess deductions related to stock compensation in the amount of $13.0 million which have not been recognized for financial statement purposes. The benefits of these tax deductions will be credited to additional paid-in capital upon being realized. The Company has performed studies to determine if there are any annual limitations on the federal net operating losses under the Section 382 of the Internal Revenue Code of 1986, as amended, or the Internal Revenue Code. As a result of these studies, the Company has determined that ownership changes have occurred primarily in connection with acquisitions when the Company has issued stock to the sellers, as well as ownership changes in the subsidiaries acquired by the Company. Certain limitations have been calculated, and the benefits of the net operating losses that will expire before utilization have not been recorded as deferred tax assets in the accompanying Consolidated Balance Sheets. The Company's U.S. net operating losses expire at various dates through 2030 . A reconciliation of the beginning and ending amount of the consolidated liability for unrecognized income tax benefits during the fiscal years ended September 30, 2015, 2014 and 2013 is as follows (in thousands): Unrecognized Tax Interest Total Balance at October 1, 2012 $ 5,961 $ 1,644 $ 7,605 Additions for tax positions of prior years — 228 228 Additions for tax positions related to acquired entities 116 — 116 Reductions from lapses in statutes of limitations (944 ) (78 ) (1,022 ) Foreign exchange rate adjustment 14 — 14 Balance at September 30, 2013 5,147 1,794 6,941 Additions for tax positions of prior years — 286 286 Reductions from lapses in statutes of limitations (861 ) (375 ) (1,236 ) Foreign exchange rate adjustment (24 ) — (24 ) Balance at September 30, 2014 4,262 1,705 5,967 Additions for tax positions of prior years — 221 221 Reductions from settlements with taxing authorities (1,304 ) — (1,304 ) Reductions from lapses in statutes of limitations (734 ) (473 ) (1,207 ) Foreign exchange rate adjustment (33 ) — (33 ) Balance at September 30, 2015 $ 2,191 $ 1,453 $ 3,644 As of September 30, 2015, all of the Company's unrecognized tax benefits, if recognized, would affect the effective tax rate. The Company recognizes interest related to unrecognized benefits as a component of income tax provision (benefit), of which $0.2 million , $0.3 million and $0.2 million was recognized for the fiscal years ended September 30, 2015, 2014 and 2013, respectively. The Company is subject to U.S. federal income tax and various state, local and international income taxes in various jurisdictions. The amount of income taxes paid is subject to the Company's interpretation of applicable tax laws in the jurisdictions in which it files. In the normal course of business, the Company is subject to examination by taxing authorities throughout the world. The statute of limitations lapsed on several uncertain tax positions in the foreign jurisdictions during fiscal year 2015 that resulted in a $1.2 million reduction in gross unrecognized tax benefits that impacted the effective tax rate. The Company is subject to income tax audits in various global jurisdictions in which it operates. The years subject to examination vary for the U.S. and international jurisdictions, with the earliest tax year being 2009 . Based on the outcome of these examinations or the expiration of statutes of limitations for specific jurisdictions, it is reasonably possible that the related unrecognized tax benefits could change from those recorded in the Company's Consolidated Balance Sheets. The Company currently anticipates that it is reasonably possible that the unrecognized tax benefits will be reduced by approximately $1.3 million . |
Postretirement Benefits
Postretirement Benefits | 12 Months Ended |
Sep. 30, 2015 | |
Compensation and Retirement Disclosure [Abstract] | |
Postretirement Benefits | Postretirement Benefits Defined Benefit Pension Plans The Company has two active defined benefit pension plans (collectively, the “Plans”). The Plans cover substantially all of the Company’s employees in Switzerland and Taiwan. Retirement benefits are generally earned based on years of service and the level of compensation during active employment; however, the level of benefits varies within the Plans. Eligibility is determined in accordance with local statutory requirements. The Company uses September 30th as a measurement date to determine net periodic benefit costs, benefit obligations and the value of plan assets for all plans. The following tables set forth the funded status and amounts recognized in the Company’s Consolidated Balance Sheets as of September 30, 2015 and 2014 (in thousands): September 30, 2015 2014 Benefit obligation at beginning of fiscal year $ 8,213 $ 7,107 Service cost 482 406 Interest cost 124 154 Actuarial loss 733 968 Benefits paid (209 ) (141 ) Employee contributions 444 — Settlements paid (1,795 ) — Foreign currency translation (331 ) (281 ) Benefit obligation at end of fiscal year $ 7,661 $ 8,213 Fair value of assets at beginning of fiscal year $ 6,131 $ 5,996 Actual return on plan assets 112 98 Disbursements (334 ) (264 ) Employer contributions 306 302 Employee contributions 642 200 Settlements paid (1,795 ) — Foreign currency translation (224 ) (201 ) Fair value of assets at end of fiscal year $ 4,838 $ 6,131 Accrued benefit obligation $ 2,823 $ 2,082 The accumulated benefit obligation of the Plans is $6.9 million and $7.3 million at September 30, 2015 and 2014, respectively. Both Plans have an accumulated benefit obligation and projected benefit obligation in excess of plans' assets at September 30, 2015 and 2014. The following table provides pension-related amounts and their classification within the accompanying Consolidated Balance Sheets as of September 30, 2015 and 2014 (in thousands): September 30, 2015 2014 Accrued compensation and benefits $ 298 $ 308 Long-term pension liability 2,525 1,774 2,823 2,082 Accumulated other comprehensive income at September 30, 2015 and 2014 includes unrecognized net actuarial (losses) gains of $(0.2) million and $0.3 million , respectively, and cumulative unrecognized investment losses of $(0.8) million during each fiscal year, respectively. The components of the Company’s net pension cost for the fiscal years ended September 30, 2015, 2014 and 2013 are as follows (in thousands): Year ended September 30, 2015 2014 2013 Service cost $ 482 $ 406 $ 604 Interest cost 124 154 148 Expected return on plan assets (210 ) (214 ) (247 ) Amortization of losses 2 2 4 Other — — 160 Net periodic pension cost 398 348 669 Settlement loss 232 — 87 Total pension cost $ 630 $ 348 $ 756 The following changes in Plans' assets and benefit obligations were recognized in other comprehensive income (loss) as of September 30, 2015 and 2014 (in thousands): September 30, 2015 2014 Net loss $ 722 $ 961 Amortization of net loss (2 ) (2 ) Settlement loss (232 ) — Total recognized in other comprehensive income (loss) 488 959 Total recognized in net periodic pension cost and other comprehensive income (loss) $ 886 $ 1,307 Settlement loss of $(0.2) million was reclassified from accumulated other comprehensive income (loss) into the results of operations during the fiscal year ended September 30, 2015. Please refer to Note 15, "Stockholders' Equity", for further information on this reclassification and its impact on the accumulated other comprehensive income and other comprehensive income for the period then ended. Weighted-average assumptions used to determine the projected benefit obligation for the fiscal years ended September 30, 2015, 2014 and 2013 are as follows: Year Ended September 30, 2015 2014 2013 Discount rate 0.92 % 1.55 % 2.15 % Expected return on plan assets 1.78 % 2.18 % 2.17 % Expected rate of compensation increases 1.65 % 1.87 % 1.89 % In selecting the appropriate discount rates for the Plans, the Company uses country-specific information, adjusted to reflect the duration of the particular plan. The expected return on plan assets is based on an evaluation of fixed income yield curves and equity return assumption studies applied to the Plans' asset allocations. The Company bases its determination of pension expense (benefit) on a market-related valuation of assets, which reduces year-to-year volatility. This market-related valuation recognizes investment gains or losses over a five -year period from the year in which they occur. Investment gains or losses represent the difference between the expected return calculated using the market-related value of assets and the actual return on assets. Since the market-related value of assets recognizes gains or losses over a five-year period, the future value of assets will be impacted as previously deferred gains or losses are recognized. At September 30, 2015, the Company had cumulative unrecognized investment losses of approximately $0.8 million under the Plans which remain to be recognized in the calculation of the market-related values of assets. At September 30, 2015, the Company had cumulative other actuarial gains of (0.2) million which are amortized into net periodic benefit cost over the average remaining service period of active Plans' participants. Plan Assets The fair value of plan assets for the Switzerland Plan and Taiwan Plan were $4.3 million and $0.5 million , respectively, at September 30, 2015. The assets are invested in a collective fund with multiple employers through a Swiss insurance company, which is a customary practice for Swiss pension plans. The Company does not have any rights or an investment authority over the Plan's assets which are invested primarily in highly rated debt securities. The assets of the Taiwan Plan are invested with a trustee selected by the Taiwan government, and the Company has no investment authority over the Plan's assets. The allocation of the Plans' assets at September 30, 2015 is as follows: September 30, 2015 Cash 72 % Debt securities 8 Equity securities 7 Other 13 100 % The fair values of pension assets by asset category and by level at September 30, 2015 are as follows (in thousands): As of September 30, 2015 Level 1 Level 2 Level 3 Total Swiss Life collective foundation $ — $ 4,347 $ — $ 4,347 Taiwan collective trust — 491 — 491 Total $ — $ 4,838 $ — $ 4,838 The fair values of pension assets by asset category and by level at September 30, 2014 are as follows (in thousands): As of September 30, 2014 Level 1 Level 2 Level 3 Total Swiss Life collective foundation $ — $ 5,608 $ — $ 5,608 Taiwan collective trust — 523 — 523 Total $ — $ 6,131 $ — $ 6,131 Please refer to Note 6, "Fair Value Measurements" for a description of the levels of inputs used to determine fair value measurements. Benefit payments expected to be paid over the next five fiscal years and thereafter are as follows (in thousands): 2016 $ 218 2017 52 2018 53 2019 54 2020 112 Thereafter (through 2025) 748 The Company expects to contribute $0.3 million to the Plans in fiscal year 2016 to meet the minimum funding requirements of the Plans. Defined Contribution Plans The Company sponsors a defined contribution plan that meets the requirements of Section 401(k) of the Internal Revenue Code. All United States employees who meet minimum age and service requirements are eligible to participate in the plans. The plans allow employees to invest, on a pre-tax basis, a percentage of their annual salary and bonus subject to statutory limitations. The Company matches a portion of their contributions on a pre-tax basis up to a maximum amount of 4.5% of deferred pay. The expense recognized for the defined contribution plans was $3.0 million , $3.5 million and $3.2 million , respectively, for the fiscal years ended September 30, 2015, 2014 and 2013. |
Stockholders' Equity
Stockholders' Equity | 12 Months Ended |
Sep. 30, 2015 | |
Equity [Abstract] | |
Stockholders' Equity | Stockholders’ Equity Preferred Stock Total number of shares of preferred stock authorized for issuance was 1,000,000 shares at September 30, 2015 and 2014, respectively. Preferred stock has a par value of $0.01 per share and may be issued at the discretion of the Board of Directors without stockholder approval with such designations, rights and preferences as the Board of Directors may determine. There were no shares of preferred stock issued or outstanding at September 30, 2015 or 2014, respectively. Accumulated Other Comprehensive Income The following is a summary of the components of accumulated other comprehensive income, net of tax, at September 30, 2015, 2014 and 2013 (in thousands): Currency Translation Adjustments Unrealized Gains (Losses) on Available-for-Sale Securities Unrealized Gains (Losses) on Cash Flow Hedges Pension Liability Adjustments Total Balance at September 30, 2012 $ 24,511 $ 201 $ — $ (1,070 ) $ 23,642 Other comprehensive (loss) income before reclassifications (2,113 ) (114 ) 14 1,109 (1,104 ) Amounts reclassified from accumulated other comprehensive income — (21 ) — 87 66 Balance at September 30, 2013 22,398 66 14 126 22,604 Other comprehensive (loss) income before reclassifications (6,296 ) (78 ) 79 (503 ) (6,798 ) Amounts reclassified from accumulated other comprehensive income — (26 ) (93 ) — (119 ) Balance at September 30, 2014 16,102 (38 ) — (377 ) 15,687 Other comprehensive income before reclassifications (9,426 ) 144 — (605 ) (9,887 ) Amounts reclassified from accumulated other comprehensive income (131 ) (3 ) — 232 98 Balance at September 30, 2015 $ 6,545 $ 103 $ — $ (750 ) $ 5,898 Unrealized net holding gains (losses) on available-for-sale marketable securities are reclassified from accumulated other comprehensive income, or AOCI, into results of operations at the time of the securities' sale, as described in Note 5, "Marketable Securities.” Losses on settlements of cash flow hedges are reclassified from AOCI into results of operations at the time of the settlement, as described in Note 12, "Derivative Instruments.” Losses related to defined benefit pension plan settlements are reclassified from AOCI into results of operations at the time of the settlement, as described in Note 14, "Postretirement Benefits.” Losses related to currency translation adjustments were reclassified from AOCI into results of operations upon liquidation of YBA joint venture, as described in Note 9, "Equity Method Investments". Noncontrolling Interests Noncontrolling interests represents the minority shareholders’ proportionate share of the equity in the Company’s majority owned subsidiary, Brooks Automation Asia, Ltd., or BAA. The Company has historically consolidated the financial position and results of operations from BAA and presented the portion of the income attributable to the minority shareholders as “Net income attributable to noncontrolling interests” in the Consolidated Statements of Operations. In September 2014, the Company acquired the remaining interest in BAA from the minority shareholders for $3.2 million . Increases in ownership of a consolidated subsidiary are accounted for as equity transactions and as a result, no additional assets or liabilities are recognized upon acquiring additional interest. As of the date of the acquisition, 100% of BAA’s pre-tax income was reflected in the Company’s results of operations. The increase in the Company's proportional share of BAA's results of operations was not material to the Company's results of operations for the fiscal year ended September 30, 2014. The payment to the minority shareholders was classified as a financing activity in the Consolidated Statements of Cash Flows. As a result of this transaction, the Company does not have noncontrolling interests as of September 30, 2015 and 2014, respectively. |
Equity Incentive Plans
Equity Incentive Plans | 12 Months Ended |
Sep. 30, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Equity Incentive Plans | Equity Incentive Plans The Company's equity incentive plans are intended to attract and retain employees and provide an incentive for them to contribute to the Company's long-term growth and achievement of its long-range performance goals. The equity incentive plans consist of plans under which employees may be granted options to purchase shares of the Company's stock, restricted stock and other equity incentives. Stock options generally had a 4 year vesting period and were exercisable for a period not to exceed 10 years from the date of issuance. Restricted stock awards generally have a 3 year vesting period. At September 30, 2015, there were no options outstanding, and a total of 4,928,870 shares were reserved and available for future issuance under the equity incentive plans. Amended and Restated 2000 Equity Incentive Plan The primary purpose of the Amended and Restated 2000 Equity Incentive Plan, or the “2000 Plan, is to attract and retain employees and provide an incentive for them to contribute to the Company's long-term growth and achievement of its long-range performance goals. In accordance with the 2000 Plan provisions, the Company may grant (i) options intended to qualify as incentive stock options under Section 422 of the Internal Revenue Code, (ii) options that are not qualified as incentive stock options, or the nonqualified stock options, and (iii) stock appreciation rights, performance awards and restricted stock. All employees of the Company or any affiliate of the Company, independent directors, consultants and advisors are eligible to participate in the 2000 Plan. Options granted out of the 2000 Plan generally vested over four years and expired within ten years from the date of grant. The 2000 Plan provided for the issuance of a maximum of 9,000,000 shares of common stock. The 2000 Plan expired on March 31, 2015. Stock option and restricted stock awards granted out of the 2000 Plan that were canceled or forfeited after February 5, 2015 were available for grant under the 2015 Equity Incentive Plan. 2015 Equity Incentive Plan The primary purpose of the 2015 Equity Incentive Plan, or the “2015 Plan, is to attract and retain employees and provide an incentive for them to contribute to the Company's long-term growth and achievement of its long-range performance goals. In accordance with the 2015 Plan provisions, the Company may grant (i) stock appreciation rights, performance awards and restricted stock, (ii) options that are not qualified as incentive stock options, or nonqualified stock options, and (iii) options intended to qualify as incentive stock options under Section 422 of the Internal Revenue Code. All employees of the Company or any affiliate of the Company, independent directors, consultants and advisors are eligible to participate in the 2015 Plan. The 2015 Plan provides for the issuance of a maximum of 5,000,000 shares of common stock in addition to the stock option and restricted stock awards granted out of the 2000 Plan that were canceled or forfeited after February 5, 2015. Stock Option Activity The following table summarizes stock option activity for all the aforementioned plans for the fiscal year ended September 30, 2015: 2015 Shares Weighted- Weighted Aggregate Outstanding at September 30, 2014 5,550 0.3 years $ 13.20 Forfeited / Expired (5,550 ) $ 13.20 Outstanding at September 30, 2015 — 0.0 years $ — Vested at September 30, 2015 — 0.0 years $ — Exercisable at September 30, 2015 — 0.0 years $ — Prior to fiscal year 2014, the Company assumed the outstanding options of multiple stock option plans in connection with the acquisition of Helix Technology Corporation, or Helix. At acquisition, 689,622 options to purchase shares of Helix common stock were outstanding and converted into 765,480 options to purchase shares of the Company’s common stock. As of September 30, 2014, a total of 5,550 vested options were outstanding which expired in fiscal year 2015. As of September 30, 2015, no options were outstanding and no shares were available for grant out of the Helix plans. Options outstanding as of September 30, 2014 had no intrinsic value based on the Company’s closing stock price of $10.51 as of that date. The total intrinsic value of options exercised was $0 during fiscal year 2013. Cash proceeds received from option exercises were $0 during fiscal year 2013. The Company settled option exercises with newly issued shares of common stock. There were no options exercised during fiscal years 2015 and 2014, respectively. As of September 30, 2015, the Company had no future unrecognized stock-based compensation expense related to stock options. Restricted Stock Activity The following table summarizes restricted stock activity for the fiscal year ended September 30, 2015: 2014 Shares Weighted Outstanding at September 30, 2014 2,726,485 $ 11.05 Granted 1,513,281 $ 11.89 Vested (709,619 ) $ 9.40 Forfeited (272,734 ) $ 10.40 Outstanding at September 30, 2015 3,257,413 $ 9.95 The weighted average grant date fair value of restricted stock granted during fiscal years 2015, 2014 and 2013 was $11.89 , $9.49 and $9.33 per share, respectively. The fair value of restricted stock units vested during fiscal years 2015, 2014 and 2013 was $8.4 million , $5.6 million and $7.3 million , respectively. As of September 30, 2015, the future unrecognized stock-based compensation expense related to restricted stock units expected to vest is $11.2 million and is expected to be recognized over an estimated weighted average amortization period of 1.7 years. The Company issues restricted stock units which vest upon the satisfaction of certain performance conditions and / or service conditions. In addition, the Company issues shares to participating employees pursuant to an employee stock purchase plan. The Company grants restricted stock units that vest over a required service period and awards for which vesting is dependent upon achieving certain operating performance goals. Restricted stock units granted with performance goals have a required service period. The following table reflects restricted stock units granted, including 8,500 of time-based awards related to the discontinued operation, during fiscal years ended September 30, 2015, 2014 and 2013: Total Units Time-Based Units Stock Grants Performance-Based Units Year ended September 30, 2015 1,513,281 597,250 69,281 846,750 Year ended September 30, 2014 1,517,057 596,212 82,095 838,750 Year ended September 30, 2013 1,471,977 716,625 77,977 677,375 Time-Based Grants Units granted with a required service period typically have three year vesting schedules in accordance with which one-third of awards vest at the first anniversary of the grant date, one-third vest at the second anniversary of the grant date and one-third vest at the third anniversary of the grant date, subject to the award holders meeting service requirements. The Company granted 69,281 shares, 82,095 shares and 77,977 shares, respectively, during fiscal years 2015, 2014 and 2013 to the Company’s Board of Directors that vested immediately. Performance-Based Grants Performance-based units are earned based on the achievement of performance criteria established by the Company’s Human Resources, Compensation Committee and the Board of Directors. The criteria for performance-based awards are weighted and have threshold, target and maximum performance goals. Performance-based awards granted in fiscal years 2014 and 2013 included provisions that allowed participants to earn 100% of the targeted number of performance-based awards if the Company’s performance met targets, and up to a maximum of 200% of the performance-based awards if the Company’s performance significantly exceeded the targets. Performance below the minimum threshold resulted in award forfeitures. The measurement of achievement against the performance goals for performance-based units granted in fiscal year 2014 and 2013 occurred at the end of each fiscal year to determine the number of earned units eligible for subsequent vesting. One-half of the earned units vest at the second anniversary of the grant date and one-half of the earned units vest at the third anniversary of the grant date, subject to the award holders meeting service requirements. The Company significantly exceeded the fiscal year 2014 financial goals associated with the performance-based awards granted in fiscal year 2014. In accordance with the award terms, a total of 1,297,546 units, or 154.7% , were eligible for subsequent vesting, subject to award holders satisfying the service requirements, which resulted in an increase of 458,796 units over the target grant amount of 838,750 units. Units granted to the employees of the Granville-Phillips business were forfeited upon completion of the sale. The Company performed below the target levels relative to the criteria outlined in the awards granted in fiscal year 2013. As a result, 460,615 units, or 68.0% , of performance-based awards granted in fiscal year 2013 were eligible for subsequent vesting, subject to award holders satisfying the service requirements, which resulted in a decrease of 216,760 units under the target grant amount of 716,625 units. Performance-based awards granted in fiscal year 2015 include provisions similar to fiscal 2014 awards and allow participants to earn threshold, target and maximum award amounts ranging from 0% of the award for performance below the minimum threshold, 100% of the award for performance at target amount and up to a maximum of 200% of the award if the Company’s performance significantly exceeds the target goals. Sixty percent of the performance-based units granted in fiscal year 2015 had certain performance goals that were measured at the end of fiscal year 2015 to determine the number of earned units eligible for subsequent vesting. The Company performed below the target levels relative to the performance criteria for these awards and as a result these awards were not eligible for subsequent vesting, which resulted in a a decrease of 508,050 units from the target grant amount of 846,750 units. Forty percent of the performance-based units granted in fiscal year 2015 have certain performance goals to be measured over a three year period at the end of fiscal year 2017 to determine the number of earned units eligible for subsequent vesting. Earned units vest on the third anniversary of the grant date, subject to award holders satisfying the service requirements. 338,700 units, or 40.0% , of performance-based awards granted in fiscal year 2015 are eligible for subsequent vesting, subject to award holders satisfying the service requirements. 1995 Employee Stock Purchase Plan On February 22, 1996, the stockholders approved the 1995 Employee Stock Purchase Plan, or the 1995 Plan, which enables eligible employees to purchase shares of the Company’s common stock. Under the 1995 Plan, eligible employees may purchase up to an aggregate of 3,000,000 shares during six-month offering periods commencing on February 1 and August 1 of each year at a share price of 85% of the lower of the Company’s closing stock price on the first or last day of each six-month offering period. On February 8, 2012, the stockholders approved an amendment to the 1995 Plan to increase the number of shares of the Company’s common stock available for issuance by 1,000,000 shares, from 3,000,000 to 4,000,000 shares. Participating employees may elect to have up to 10% of their base pay withheld and applied toward the purchase of such shares. The rights of participating employees under the 1995 Plan terminate upon voluntary withdrawal from the plan at any time or upon termination of employment. As of September 30, 2015, 3,551,345 shares of common stock have been purchased under the 1995 Plan and 448,655 shares remain available for purchase. |
Restructuring and Other Charges
Restructuring and Other Charges | 12 Months Ended |
Sep. 30, 2015 | |
Restructuring and Related Activities [Abstract] | |
Restructuring and Other Charges | Restructuring and Other Charges Fiscal Year 2015 Activities The Company recorded restructuring charges of $ 4.7 million in fiscal year 2015, which included severance costs of $ 3.4 million and facility-related costs of $ 1.3 million as a result of actions taken to reduce the workforce in order to improve the cost structure and ongoing cost discipline. These costs resulted from the consolidation of certain administrative functions in the Brooks Life Science Systems segment, the on-going transition of manufacturing certain products to a third party contract manufacturer and actions taken to reduce the workforce in order to improve the Company's cost structure and ongoing cost discipline. Severance costs of $ 3.4 million related to the reduction in workforce reductions of approximately 93 positions across all of the Company's reportable segments and its corporate function. Total severance costs included charges related to the outsourcing of certain manufacturing operation along with certain products from the DMS business and Brooks Life Sciences Systems segment, as well as workforce reductions related to the integration of acquisitions and other cost reduction initiatives. Facility exit costs of $ 1.3 million which consisted of lease payments and fixed asset write-offs associated with the Company's efforts to reduce the space used in its operations. Fiscal Year 2014 Activities The Company recorded restructuring charges of $6.3 million in fiscal year 2014. These charges were related primarily to the Company's decision to discontinue certain product lines in the Brooks Life Science Systems and Brooks Product Solutions segments, the on-going transition of manufacturing cryochillers and compressors within the Company's Polycold product line to a third party contract manufacturer and other global programs designed to improve the Company’s cost structure. Restructuring charges of $6.3 million recorded in fiscal year 2014 consisted of $5.7 million of severance costs and $0.6 million of facility-related costs. Severance costs of $5.7 million included charges related to the outsourcing of the Polycold manufacturing operation and workforce-related charges resulting from reductions of approximately 70 positions. Severance charges incurred during fiscal year 2014 by the Brooks Product Solutions segment, the Brooks Global Services segment and the Brooks Life Science Systems segment amounted to $2.4 million , $0.4 million and $1.6 million , respectively. In addition to these severance charges, the Brooks Life Science Systems segment recorded a charge of $1.3 million related to the reduction of positions within the corporate and sales functions. Total severance charges related to the outsourcing of the Polycold manufacturing operation were $1.2 million and consisted of severance and retention fees. The charge for this program was recorded ratably over the period from notification of the closing in October 2012 to the actual service end date in September 2014. Facility-related costs of $0.6 million consisted of lease payments and fixed asset write-offs associated with the Company's efforts to reduce the space used in its operations. In addition to the workforce and facility-related charges described above, the Company recorded $0.3 million of inventory write-offs associated with discontinuing certain product lines. Inventory write-offs are included in cost of revenue in the accompanying Consolidated Statements of Operations. Fiscal Year 2013 Activities The Company recorded a restructuring charge of $ 6.4 million in fiscal year 2013. These charges were related primarily to workforce reductions implemented to consolidate the operations of Crossing into the Company's operations, the transition of manufacturing cryochillers and compressors within the Company's Polycold product line to a third party contract manufacturer and other programs designed to improve the Company's cost structure. Restructuring costs of $ 6.4 million recorded in fiscal year 2013 consisted of $5.5 million of severance costs and $ 0.8 million of facility-related costs. Severance costs incurred in fiscal year 2013 were related to the workforce reduction of approximately 200 positions. Severance charges incurred during fiscal year 2013 by the Brooks Product Solutions segment, the Brooks Global Services segment and the Brooks Life Science Systems segment amounted to $2.5 million , $1.1 million and $1.5 million , respectively, and were related primarily to the reduction of corporate positions. In addition to these severance charges, the Brooks Life Science Systems segment recorded a charge of $0.4 million related to the consolidation of positions within its administrative function. In addition to the workforce and facility-related charges described above, the Company recorded a charge of $0.1 million related to a partial settlement of a defined benefit pension plan covering substantially all of the Company’s Swiss employees. The following is a summary of activity related to the Company’s restructuring and other charges, excluding amounts related to the discontinued operations, for the fiscal years ended September 30, 2015, 2014 and 2013 (in thousands): Fiscal Year 2015 Activity Balance Expenses Payments Balance Facility and other contract termination costs $ 71 $ 1,204 $ (842 ) $ 433 Workforce-related termination benefits 3,404 3,213 (4,977 ) 1,640 $ 3,475 $ 4,417 $ (5,819 ) $ 2,073 Fiscal Year 2014 Activity Balance Expenses Payments Balance Facility and other contract termination costs $ 155 $ 583 $ (667 ) $ 71 Workforce-related termination benefits 1,257 5,706 (3,559 ) 3,404 $ 1,412 $ 6,289 $ (4,226 ) $ 3,475 Fiscal Year 2013 Activity Balance Expenses Payments Balance Facility and other contract termination costs $ — $ 818 $ (663 ) $ 155 Workforce-related termination benefits $ 2,098 $ 5,475 $ (6,316 ) 1,257 $ 2,098 $ 6,293 $ (6,979 ) $ 1,412 Accrued restructuring costs of $2.1 million as of September 30, 2015 are expected to be paid during fiscal year 2016. |
Segment and Geographic Informat
Segment and Geographic Information | 12 Months Ended |
Sep. 30, 2015 | |
Segment Reporting [Abstract] | |
Segment and Geographic Information | Segment and Geographic Information Operating segments are defined as components of an enterprise that engage in business activities for which discrete financial information is available and regularly reviewed by the chief operating decision maker in deciding how to allocate resources and to assess performance. Chief Executive Officer is the Company's chief operating decision maker. The Company reports its financial results for three operating and reportable segments: (i) Brooks Product Solutions, (ii) Brooks Global Services and (iii) Brooks Life Science Systems. The Brooks Product Solutions segment provides a variety of products and solutions that enable improved throughput and yield in controlled operating environments. Those products include atmospheric and vacuum robots, robotic modules and tool automation systems that provide precision handling and clean wafer environments, as well as vacuum pumping and thermal management solutions used to create and control critical process vacuum applications. The Brooks Global Services segment provides an extensive range of support services, including repair services, diagnostic support services and installation services in support of the products from the Company's Brooks Product Solutions segment, which enable its customers to maximize process tool uptime and productivity. This segment also provides end-user customers with spare parts to maximize customer tool productivity. The Brooks Life Science Systems segment provides automated cold sample management systems for compound and biological sample storage, equipment for sample preparation and handling, consumables, as well as parts and support services to a wide range of life science customers, including pharmaceutical companies, biotechnology companies, biobanks, national laboratories, research institutes and research universities. The Company evaluates the performance of its segments and allocates resources to them based on their revenue, operating income (loss) and returns on invested assets. Operating income (loss) for each segment includes selling, general and administrative expenses directly attributable to the segment. Amortization of acquired intangible assets (excluding completed technology), restructuring and other charges, pension settlement, in-process research and development, as well as other unallocated corporate expenses are excluded from the segments’ operating income (loss). The Company’s indirect overhead costs, which include various general and administrative expenses, are allocated among the segments based upon multiple cost drivers associated with the respective administrative function, including segment revenue, headcount, or benefits that each segment derives from a specific administrative function. Segment assets exclude cash, cash equivalents, restricted cash, marketable securities, deferred tax assets, assets held for sale and equity method investments. The following is the summary of the financial information for the Company’s operating and reportable segments, excluding amounts related to the discontinued operations, for the fiscal years ended September 30, 2015, 2014 and 2013 (in thousands): Brooks Brooks Brooks Total Fiscal year ended September 30, 2015: Revenue Product $ 389,425 $ 17,154 $ 50,832 $ 457,411 Services 703 77,355 17,239 95,297 Segment revenue $ 390,128 $ 94,509 $ 68,071 $ 552,708 Gross profit $ 138,446 $ 32,933 $ 17,726 $ 189,105 Segment operating income (loss) 35,780 13,915 (19,580 ) 30,115 Depreciation expense 3,832 480 1,295 5,607 Assets 260,011 57,058 110,910 427,979 Fiscal year ended September 30, 2014: Revenue Product $ 325,639 $ 14,978 $ 46,415 $ 387,032 Services — 79,083 16,733 95,816 Segment revenue $ 325,639 $ 94,061 $ 63,148 $ 482,848 Gross profit $ 111,746 $ 32,168 $ 23,423 $ 167,337 Segment operating income (loss) 10,836 12,451 (8,431 ) 14,856 Depreciation expense 8,316 2,361 2,022 12,699 Assets 252,944 58,678 103,498 415,120 Fiscal year ended September 30, 2013: Revenue Product $ 290,523 $ 13,152 $ 31,336 $ 335,011 Services — 75,477 11,952 87,429 Segment revenue $ 290,523 $ 88,629 $ 43,288 $ 422,440 Gross profit $ 91,255 $ 26,912 $ 14,140 $ 132,307 Segment operating income (loss) 1,116 9,592 (12,380 ) (1,672 ) Depreciation expense 8,698 2,746 2,256 13,700 Assets 226,759 59,762 105,221 391,742 The following is a reconciliation of the Company’s operating and reportable segments' operating income (loss) and segment assets to the corresponding amounts presented in the accompanying Consolidated Balance Sheets and Consolidated Statements of Operations for the fiscal years ended September 30, 2015, 2014 and 2013 (in thousands): As of and for the Year Ended 2015 2014 2013 Segment operating income (loss) $ 30,115 $ 14,856 $ (1,672 ) Other unallocated corporate expenses 856 5,096 3,002 Amortization of acquired intangible assets 7,656 6,170 5,694 Impairment of acquired intangible assets — — 50 Restructuring and other charges 4,713 6,289 6,380 Total operating income (loss) $ 16,890 $ (2,699 ) $ (16,798 ) Segment assets $ 427,979 $ 415,120 Cash, cash equivalents and marketable securities 214,030 245,456 Deferred tax assets 89,959 86,572 Assets held for sale 2,900 — Equity method investments 24,286 28,944 Other unallocated corporate net assets 500 1,946 Total assets $ 759,654 $ 778,038 Revenue from external customers is attributed to geographic areas based on locations in which customer orders are placed. Net revenue by geographic area for the fiscal years ended September 30, 2015, 2014 and 2013 are as follows (in thousands): Year Ended September 30, 2015 2014 2013 North America $ 199,103 $ 174,343 $ 177,779 Asia / Pacific 121,765 198,695 154,358 Europe 231,840 109,810 90,303 $ 552,708 $ 482,848 $ 422,440 The majority of our net revenue in North America is generated in the United States. Property, plant and equipment by geographic area as of September 30, 2015 and 2014 are as follows (in thousands): September 30, 2015 2014 North America $ 36,402 $ 40,232 Asia / Pacific 2,104 870 Europe 3,349 9,081 $ 41,855 $ 50,183 |
Significant Customers
Significant Customers | 12 Months Ended |
Sep. 30, 2015 | |
Risks and Uncertainties [Abstract] | |
Significant Customers | Significant Customers The Company had one customer that accounted for more than 10% of its consolidated revenue, at 12% , 11% , and 11% , respectively, in the fiscal years ended September 30, 2015, 2014 and 2013. The Company did not have any customers that accounted for more than 10% of its accounts receivable balance at September 30, 2015 or 2014. For purposes of determining the percentage of revenue generated from any of the Company's original equipment manufacturer, or OEM, customers, the Company does not include revenue from products sold to contract manufacturer customers who in turn sell to the OEM's. If the Company included revenue from products sold to contract manufacturer customers supporting the Company's OEM customers, the percentage of the Company's total revenue derived from certain OEM customers would be higher. |
Supplementary Balance Sheet Inf
Supplementary Balance Sheet Information | 12 Months Ended |
Sep. 30, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Supplementary Balance Sheet Information | Supplementary Balance Sheet Information The following is a summary of accounts receivable at September 30, 2015 and 2014 (in thousands): September 30, 2015 2014 Accounts receivable $ 87,582 $ 81,270 Less allowance for doubtful accounts (1,019 ) (1,031 ) Less allowance for sales returns (115 ) (133 ) $ 86,448 $ 80,106 The allowance for doubtful accounts activity for the fiscal years ended September 30, 2015, 2014 and 2013 is as follows (in thousands): Description Balance at Provisions Reversals of Write-offs and Balance at 2015 Allowance for doubtful accounts $ 1,031 $ — $ — $ 12 $ 1,019 2014 Allowance for doubtful accounts 863 438 (315 ) 45 1,031 2013 Allowance for doubtful accounts 851 48 (143 ) 107 863 As part of the acquisition of Crossing in fiscal year 2013, the Company acquired a contract in which a certain customer has a right of return on the purchase of spare parts. The allowance for returns activity for the fiscal years ended September 30, 2015, 2014 and 2013 is as follows (in thousands): Description Balance at Provisions Write-offs and Balance at 2015 Allowance for sales returns $ 133 $ (18 ) $ — $ 115 2014 Allowance for sales returns 114 19 — 133 2013 Allowance for sales returns — 72 42 114 The following is a summary of inventories at September 30, 2015 and 2014, excluding amounts related to discontinued operations (in thousands): September 30, 2015 2014 Inventories Raw materials and purchased parts $ 62,441 $ 57,250 Work-in-process 21,563 20,068 Finished goods 16,615 16,249 $ 100,619 $ 93,567 Reserves for excess and obsolete inventory, excluding amounts related to discontinued operations, were $23.8 million , $26.0 million , $24.2 million and $23.2 million , respectively, at September 30, 2015, 2014, 2013 and 2012. The Company recorded charges to reserves for excess and obsolete inventory of $7.9 million , $6.9 million and $5.4 million , respectively, in fiscal years 2015, 2014 and 2013. Reductions of the reserves for excess and obsolete inventory were related to inventory disposals and amounted to $10.3 million , $5.1 million and $4.3 million , respectively, in fiscal years 2015, 2014 and 2013. The Company establishes reserves for estimated cost of product warranties developed based on historical information. Product warranty reserves are recorded at the time product revenue is recognized, and retrofit accruals are recorded at the time retrofit programs are established. The Company’s warranty obligation is affected by product failure rates, utilization levels, material usage, service delivery costs incurred in correcting a product failure and supplier warranties on parts delivered to the Company. The following is a summary of product warranty and retrofit activity on a gross basis, excluding amounts related to discontinued operations, for the fiscal years ended September 30, 2015, 2014 and 2013 (in thousands): Amount Balance at September 30, 2012 $ 7,246 Adjustments for acquisitions and divestitures 1,187 Accruals for warranties during the year 9,968 Costs incurred during the year (11,141 ) Balance at September 30, 2013 7,260 Adjustments for acquisitions and divestitures 364 Accruals for warranties during the year 9,969 Costs incurred during the year (11,094 ) Balance at September 30, 2014 6,499 Adjustments for acquisitions and divestitures 81 Accruals for warranties during the year 9,917 Costs incurred during the year (10,408 ) Balance at September 30, 2015 $ 6,089 |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Sep. 30, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies Capital Lease Obligation During fiscal year 2015, the Company was leasing the building and the related land on its Chelmsford, Massachusetts campus. The Company began leasing the building in fiscal year 2002 and exercised a renewal option in March 2014 to extend the lease term until March 2018 and purchase the building at the end of the lease period. During fiscal year 2014, the Company recorded the assets and the associated capital lease obligation at the net present value of the minimum lease payments in its Consolidated Balance Sheets. The net present value of the minimum lease payments was allocated to the building and the land based on their relative fair values. As of September 30, 2014, the cost of the building and the land under the capital lease was $6.4 million and $2.1 million , respectively. On September 30, 2015, the Company purchased the building and the related land for a total price of $ 8.4 million and derecognized the associated capital lease obligation of $7.8 million . The difference of $0.6 million between the purchase price of $8.4 million and the capital lease obligation of $7.8 million was recorded an adjustment to the acquisition cost of the building and land of $6.6 million and $2.3 million , respectively, which were classified as property, plant and equipment in the accompanying Consolidated Balance Sheets as of September 30, 2015. Depreciation expense related to the building is computed using the straight-line method over the estimated useful life of the asset. Accumulated amortization related to the building was $0.2 million and $0.1 million , respectively, at September 30, 2015 and 2014. Operating Leases Commitments The Company leases manufacturing and office facilities and certain equipment under non-cancelable operating leases that expire throughout 2020. Rent expense under the operating leases, excluding costs recorded as a component of restructuring charges, was $6.5 million , $8.2 million and $8.4 million , respectively, for the fiscal years ended September 30, 2015, 2014 and 2013. Future minimum lease commitments on non-cancelable operating leases as of September 30, 2015 are as follows (in thousands): Year ended September 30, Amount 2016 $ 3,097 2017 2,012 2018 1,309 2019 638 2020 86 Thereafter — $ 7,142 The Company utilizes a third party to manage its manufacturing operations in Mexico. As a part of this arrangement, the Company makes and guarantees the monthly payments for a lease of its Mexico facility which expires in January 2018. The remaining payments under the lease were approximately $1.0 million at September 30, 2015. Letters of Credit At September 30, 2015, the Company had $3.5 million of letters of credit outstanding related primarily to customer advances and other performance obligations. These arrangements guarantee the refund of advance payments received from our customers in the event that the product is not delivered or warranty obligations are not fulfilled in accordance with the contract terms. These obligations could be called by the beneficiaries at any time before the expiration date of the particular letter of credit if the Company fails to meet certain contractual requirements. None of these obligations were called in fiscal year 2015, and the Company currently does not anticipate any of these obligations to be called in the near future. Purchase Commitments The Company has non-cancelable contracts and purchase orders for inventory of $77.2 million at September 30, 2015. Contingencies The Company is subject to various legal proceedings, both asserted and unasserted, that arise in the ordinary course of business. The Company cannot predict the ultimate outcome of such legal proceedings or in certain instances provide reasonable ranges of potential losses. However, as of the date of this report, the Company believes that none of these claims will have a material adverse effect on its consolidated financial position or results of operations. In the event of unexpected subsequent developments and given the inherent unpredictability of these legal proceedings, there can be no assurance that the Company's assessment of any claim will reflect the ultimate outcome, and an adverse outcome in certain matters could, from time to time, have a material adverse effect on the Company's consolidated financial position or results of operations in particular quarterly or annual periods. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Sep. 30, 2015 | |
Subsequent Events [Abstract] | |
Subsequent Events | Subsequent Events On November 4, 2015 , the Company entered into an agreement and plan of merger with BioStorage Technologies, Inc. (“BioStorage”), pursuant to which the Company has agreed to acquire all the outstanding capital stock of BioStorage for an aggregate purchase price of $ 127.0 million , subject to adjustment for working capital and other items. The transaction is expected to close in first quarter of fiscal year 2016 and is subject to customary closing conditions, including regulatory approvals. The acquisition is expected to enhance the Company’s ability to offer its customers a full solution for biological sample storage. On November 4, 2015 , the Company’s Board of Directors declared a cash dividend of $0.10 per share payable on December 22, 2015 to common stockholders of record as of December 4, 2015 . Dividends are declared at the discretion of the Company’s Board of Directors and depend on the Company's actual cash flow from operations, its financial condition and capital requirements, as well as any other factors the Company’s Board of Directors may consider relevant. Future dividend declarations, as well as the record and payment dates for such dividends, will be determined by the Company’s Board of Directors on a quarterly basis. |
Summary of Significant Accoun32
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Sep. 30, 2015 | |
Accounting Policies [Abstract] | |
Principles of Consolidation and Basis of Presentation | Principles of Consolidation and Basis of Presentation The accompanying consolidated financial statements include the accounts of the Company and its majority-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. The Company applies equity method of accounting to investments that provide it with ability to exercise significant influence over the entities in which it lacks controlling financial interest and is not a primary beneficiary. |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenue and expenses during the reporting period. Significant estimates are associated with recording accounts receivable, inventories, goodwill, intangible assets other than goodwill, long-lived assets, derivative financial instruments, deferred income taxes, warranty and pension obligations, revenue recognized in accordance with the percentage of completion method, and stock-based compensation expense. The Company assesses the estimates on an ongoing basis and records changes in estimates in the period they occur and become known. Actual results could differ from these estimates. |
Business Combinations | Business Combinations The Company accounts for business acquisitions using the purchase method of accounting, in accordance with which assets acquired and liabilities assumed are recorded at their respective fair values at the acquisition date. The fair value of the consideration paid, including contingent consideration, is assigned to the assets acquired and liabilities assumed based on their respective fair values. Goodwill represents excess of the purchase price over the estimated fair values of the assets acquired and liabilities assumed. Significant judgments are used in determining fair values of assets acquired and liabilities assumed, as well as intangibles and their estimated useful lives. Fair value and useful life determinations are based on, among other factors, estimates of future expected cash flows, royalty cost savings and appropriate discount rates used in computing present values. These judgments may materially impact the estimates used in allocating acquisition date fair values to assets acquired and liabilities assumed, as well as the Company's current and future operating results. Actual results may vary from these estimates which may result in adjustments to goodwill and acquisition date fair values of assets and liabilities during a measurement period or upon a final determination of asset and liability fair values, whichever occurs first. Adjustments to fair values of assets and liabilities made after the end of the measurement period are recorded within the Company's operating results. Changes in the fair value of a contingent consideration resulting from a change in the underlying inputs are recognized in results of operations until the arrangement is settled. |
Foreign Currency Translation | Foreign Currency Translation Certain transactions of the Company and its subsidiaries are denominated in currencies other than their functional currency. Foreign currency exchange gains (losses) generated from the settlement and remeasurement of these transactions are recognized in earnings and presented within “Other income, net” in the Company's Consolidated Statements of Operations. Net foreign currency transaction and remeasurement gains (losses) totaled $0.5 million , $(1.2) million and $(0.9) million for the fiscal years ended September 30, 2015, 2014 and 2013, respectively. |
Derivative Financial Instruments | Derivative Financial Instruments All derivatives, whether designated as a hedging relationship or not, are recorded in the Consolidated Balance Sheets at fair value. The accounting for changes in fair value of a derivative instrument depends on whether it has been designated and qualifies as part of a hedging relationship and the type of hedging relationship. For those derivative instruments that are designated and qualify as hedging instruments, the Company must designate the hedging instrument as a fair value hedge, cash flow hedge or a hedge of a net investment in a foreign operation based on the exposure being hedged. Certain derivatives held by the Company are not designated as hedges but are used in managing exposure to changes in foreign exchange rates. A fair value hedge is a derivative instrument designated for the purpose of hedging the exposure of changes in fair value of an asset or a liability resulting from a particular risk. If the derivative is designated as a fair value hedge, the changes in the fair value of the derivative and of the hedged item attributable to the hedged risk are both recognized in the results of operations and presented in the same caption in the Consolidated Statements of Operations and Consolidated Statements of Comprehensive Income (Loss). A cash flow hedge is a derivative instrument designated for the purpose of hedging the exposure to variability in future cash flows resulting from a particular risk. If the derivative is designated as a cash flow hedge, the effective portions of changes in the fair value of the derivative are recorded in accumulated other comprehensive income and recognized in the results of operations when the hedged item affects earnings. Ineffective portions of changes in the fair value of cash flow hedges are recognized in the results of operations. A hedge of a net investment in a foreign operation is achieved through a derivative instrument designated for the purpose of hedging the exposure of changes in value of investments in foreign subsidiaries. If the derivative is designated as a hedge of a net investment in a foreign operation, the effective portions of changes in the fair value of the derivative are recorded in other comprehensive income as a part of the foreign currency translation adjustment. Ineffective portions of net investment hedges are recognized in the results of operations. For derivative instruments not designated as hedging instruments, changes in fair value are recognized in the Consolidated Statements of Operations as gains or losses consistent with the classification of the underlying risk. |
Cash and Cash Equivalents | Cash and Cash Equivalents Cash and cash equivalents consist of cash and highly liquid investments with original maturities of three months or less. |
Concentration of Credit Risk | Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash deposits and cash equivalents, marketable securities, derivative instruments and accounts receivable. All of the Company’s cash, cash equivalents, marketable securities and derivative instruments are maintained by major financial institutions. The Company invests cash not used in operations in investment grade, high credit quality securities in accordance with the Company's investment policy which provides guidelines and limits regarding investments type, concentration, credit quality and maturity terms aimed at maintaining liquidity and reducing risk of capital loss. A majority of the Company’s customers is concentrated in the semiconductor industry. The Company regularly monitors the creditworthiness of its customers and believes that it has adequately provided for exposure to potential credit losses. The Company's top ten largest customers accounted for approximately 38% , 37% and 40% of its consolidated revenue for the fiscal years ended September 30, 2015, 2014 and 2013, respectively. One customer accounted for approximately 12% , 11% , and 11% , respectively, in the fiscal years ended September 30, 2015, 2014 and 2013. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments The Company's financial instruments consist of cash and cash equivalents, marketable securities, derivative instruments, accounts receivable, note receivable, convertible debt securities, stock warrants and accounts payable. Marketable securities and derivative instruments are measured at fair value based on quoted market prices for identical or similar assets or liabilities. Convertible debt securities are measured at fair value based on the probability-weighted expected return method utilizing various scenarios for the expected payout of the instrument covering the full range of the potential outcomes. Fair value of the asset securities is based upon the present value of the probability of each future outcome becoming available to the asset and the economic rights and preferences of each asset. Stock warrants are measured at fair value based on the Black-Scholes model which incorporates the constant price variation of the underlying asset, the time value of money, the warrant’s strike price and the time to the warrant’s expiration date. Note receivable is measured at fair value on non-recurring basis. The Company considers the subordination features of the note and the fair value of the collateral determined based on valuation techniques, principally the discounted cash flow method. The fair value of the note receivable could be different under different conditions or different assumptions, including the varying assumptions regarding future cash flows of the Borrower or discount rates. The carrying amounts of cash, cash equivalent, accounts receivable and accounts payable approximate their fair value due to their short-term nature. |
Accounts Receivable and Allowance for Doubtful Accounts | Accounts Receivable and Allowance for Doubtful Accounts and Sales Returns Trade accounts receivable do not bear interest and are recorded at the invoiced amount. The Company maintains an allowance for doubtful accounts representing its best estimate of probable credit losses related to its existing accounts receivable and their net realizable value. The Company determines the allowance based on a number of factors, including an evaluation of customer credit worthiness, the age of the outstanding receivables, economic trends and historical experience. The Company reviews its allowance for doubtful accounts on a quarterly basis and adjusts the balance based on the Company's estimates of the receivables' recoverability in the period the changes in estimates occur and become known. Accounts receivable balances are written-off against the allowance for doubtful accounts when the Company determines that the balances are not recoverable. Provisions for doubtful accounts are recorded in "Selling, general and administrative expenses" in the Consolidated Statements of Operations. The Company determines the allowance for sales returns based on its best estimate of probable customer returns. Provisions for sales returns are recorded in "Revenue" in the Consolidated Statements of Operations. The Company does not have any off-balance-sheet credit exposure related to its customers. |
Inventories | Inventories Inventories are stated at the lower of cost or market. Cost is determined based on standard cost which approximates actual cost on a first-in, first-out basis. The Company reports inventories at their net realizable value and provides reserves for excess, obsolete or damaged inventory based on changes in customer demand, technology and other economic factors. |
Fixed Assets, Intangible Assets and Impairment of Long-lived Assets | Fixed Assets, Intangible Assets and Impairment of Long-lived Assets Property, plant and equipment are stated at cost, net of accumulated depreciation. Depreciation expense is computed based on the straight-line method and charged to results of operations to allocate the cost of the assets over their estimated useful lives, as follows: Buildings 20 - 40 years Computer equipment and software 2 - 7 years Machinery and equipment 2 - 10 years Furniture and fixtures 3 - 10 years Leasehold improvements are amortized over the shorter of their estimated useful lives or the remaining terms of the respective leases. Equipment used for demonstrations to customers is included in machinery and equipment and depreciated over its estimated useful life. Repair and maintenance costs are expensed as incurred. The Company develops software for its internal use. Internal and external labor costs incurred during the application development stage are capitalized. Training and data conversion costs, as well as costs incurred prior to the application development stage and during the post-implementation stage are expensed as incurred. Cost of disposed assets upon their retirement and the associated accumulated depreciation are derecognized at the time of disposal, and the resulting gain or loss is included in the Company's results of operations as a component of operating income (loss). The Company identified finite-lived intangible assets other than goodwill as a result of acquisitions. Finite-lived intangible assets are valued based on estimated future cash flows and amortized over their estimated useful lives based on methods that approximate the pattern in which the economic benefits are expected to be realized. Finite-lived intangibles assets and fixed assets are tested for impairment when indicators of impairment are present. For purposes of this test, long-lived assets are grouped with other assets and liabilities at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities. If the Company determines that indicators of potential impairment are present, it assesses the recoverability of long-lived asset group by comparing its undiscounted future cash flows to its carrying value. The future cash flow period is based on the future service life of the primary asset within the long-lived asset group. If the carrying value of the long-lived asset group exceeds its future cash flows, the Company determines fair values of the individual net assets within the long-lived asset group to assess potential impairment. If the aggregate fair values of the individual net assets of the group are less than their carrying values, an impairment loss is recognized for an amount in excess of the group's aggregate carrying value over its fair value. The loss is allocated to the assets within the group based on their relative carrying values, with no asset reduced below its fair value. Finite-lived intangible assets are amortized over their useful lives, as follows: Patents 7 - 15 years Completed technology 5 - 10 years Customer relationships 5 - 13 years |
Goodwill | Goodwill Goodwill represents the excess of a purchase price over the fair value of net tangible and identifiable intangible assets of the businesses acquired by the Company. Goodwill is tested for impairment annually or more often if impairment indicators are present, at the reporting unit level. Prior to fiscal year 2015, the Company conducted its annual goodwill impairment test as of its fiscal year end, or September 30th. Beginning with fiscal year 2015, the Company changed the date of its annual goodwill impairment test from September 30th to April 1st to align more closely with its annual strategic planning process. This change did not delay, accelerate, or avoid an impairment charge and did not result in adjustments to the Company's consolidated financial statements when applied retrospectively. The Company completed the annual goodwill impairment test during fiscal year 2015 and determined that no adjustment to goodwill was necessary since the fair value of all reporting units substantially exceeded their respective carrying values. The change in the annual impairment test date did not have an impact on the Company's financial position and results of operations during the fiscal year ended September 30, 2015. No triggering events indicating goodwill impairment occurred subsequent to the test date. Application of the goodwill impairment test requires significant judgment based on market and operational conditions at the time of the evaluation, including management's best estimate of future business activity and the related estimates of future cash flows from the assets and the reporting units that include the associated goodwill. These periodic evaluations could cause management to conclude that impairment factors exist, requiring an adjustment of these assets to their then-current fair market values. Future business conditions and/or activity could differ materially from the projections made by management which could result in additional adjustments and impairment charges. The goodwill impairment test is performed at the reporting unit level. A reporting unit is either an operating segment or one level below it, which is referred to as a “component”. The level at which the impairment test is performed requires an assessment of whether the operations below an operating segment constitute a self-sustaining business, in which case testing is generally performed at this level. The Company currently has six reporting units that have goodwill, including three components that are part of our Brooks Product Solutions operating segment and sole reporting units that are our Brooks Global Services and Brooks Life Science Systems operating segments. Goodwill impairment testing involves a two-step process. The Company first compares the fair value of each reporting unit to its respective carrying amount, including goodwill, to assess whether potential goodwill impairment exists. If the fair value of the reporting unit exceeds its carrying amount, goodwill of the reporting unit is not considered impaired. If the reporting unit’s carrying amount exceeds its fair value, the Company performs the second step of the goodwill impairment test to measure the potential impairment loss amount by comparing the implied fair value of goodwill with its carrying amount. The implied fair value of goodwill is determined by allocating the fair value of the reporting unit to all of its assets and liabilities and assigning the excess amount to goodwill. If the implied fair value of goodwill is less than its carrying amount, an impairment loss is recognized for difference between the carrying amount of goodwill and its implied fair value. |
Pension Plans | Pension Plans The cost and obligations of the Company's defined benefit pension plans are calculated |
Revenue Recognition | Revenue Recognition Product revenue is associated with the sale of hardware systems, components and spare parts, as well as product license revenue. Service revenue is associated with service contracts, repairs, upgrades and field services. Shipping and handling fees billed to customers, if any, are recognized as revenue. The related shipping and handling costs are recognized in cost of revenue. The Company recognizes revenue when all four revenue recognition criteria have been met: persuasive evidence of an arrangement exists; delivery has occurred or services have been rendered; seller’s price to buyer is fixed or determinable; and collectibility is probable. The revenue recognition policy generally results in revenue recognition at the following points: (1) for all transactions where legal title passes to the customer upon shipment or delivery, revenue is recognized upon passage of title for all products that have been demonstrated to meet product specifications prior to shipment; the portion of revenue associated with certain installation-related tasks is deferred, and that revenue is recognized upon completion of the installation-related tasks; (2) for products that have not been demonstrated to meet product specifications prior to shipment, revenue is recognized at customer technical acceptance; (3) for transactions where legal title does not pass at shipment or delivery, revenue is recognized when legal title passes to the customer, which is generally at customer technical acceptance; and (4) for arrangements containing multiple elements, revenue for delivered elements that have a stand alone value is recognized at the time of delivery, provided all other revenue recognition criteria are met. Revenue related to the undelivered elements is deferred using the relative selling price method utilizing estimated sales prices until delivery of the deferred elements has occurred. Arrangements with certain customers include contingent revenue provisions, in which a portion of the selling price of a delivered item is contingent on the delivery of other items or on the delivered items meeting specified performance criteria. In arrangements that include contingent revenue, the amount of revenue recognized is limited to the lower of either: the amount billed that is not contingent on acceptance; or the value of the arrangement consideration allocated to the delivered elements if the product is a part of a multiple-element arrangement. In cases when products sold have been demonstrated to meet product specifications prior to shipment, which the Company believes is at the time of delivery, it has an enforceable claim to amounts recognized as revenue. Spare parts revenue is generally recognized upon shipment, and services revenue is generally recognized over the period that the services are provided. Revenue from product sales that include significant customization, which primarily include life science automation systems, is recognized using the percentage of completion method. In accordance with the percentage of completion method, revenue is recognized as work progresses based on a percentage that incurred labor effort to date bears to total projected labor effort. Profit estimates on long-term contracts are revised periodically based on changes in circumstances, and any losses on contracts are recognized in the period in which they are deemed to be probable. If the Company determines that a loss is probable, it estimates the loss amount by comparing total estimated contract revenue to the total estimated contract costs. Significant judgment is required in estimating total labor costs and progress to completion on these arrangements, as well as whether a loss is expected to be incurred on the contract due to several factors, including the degree of customization required and the customer’s existing environment. The Company uses historical experience, project plans, and an assessment of the risks and uncertainties inherent in the arrangement to establish these estimates. Uncertainties in these arrangements include implementation delays or performance issues that may or may not be within the Company's control. The Company also has certain product arrangements with significant customization that include contractual terms and customer rights disallowing the use of the percentage of completion method. The Company accounts for these arrangements in accordance with the completed-contract method and recognizes income only when a contract is completed or substantially completed. Generally, the terms of long-term contracts provide for progress billings based on completion of milestones or other defined phases of work. In certain instances, payments collected from customers in advance of recognizing the related revenue are recorded as deferred revenue. Revenue associated with service agreements is generally recognized ratably over the term of the contract, with payments from customers being recorded as deferred revenue. Revenue from repair services or upgrades of customer-owned equipment is recognized upon completion of the repair effort and the shipment of the repaired item back to the customer. If the repair or the upgrade include installation, revenue is recognized when the installation is completed. A portion of the revenue arrangements for our products, particularly in sales of life science automation systems and contamination control solutions, are multiple element arrangements that can include product, service and other elements. For multiple element revenue arrangements, arrangement consideration is allocated to each element based upon their relative selling price using vendor-specific objective evidence, or VSOE, or third-party evidence, or TPE, or based upon the relative selling price using estimated selling prices if VSOE or TPE do not exist. The Company relies primarily on estimated selling prices since it generally does not have VSOE or TPE. The Company recognizes revenue for each element of the arrangement in accordance with its revenue recognition policies. The fair value of any undelivered elements is deferred until the elements are delivered and all other revenue recognition criteria have been met. |
Warranty Obligations | Warranty Obligations The Company offers warranties on the sales of certain of its products and records warranty obligations for estimated future claims at the time revenue is recognized. Warranty obligations are estimated based on historical experience and management's estimate of the level of future claims. |
Research and Development Expenses | Research and Development Expense Research and development costs are expensed as incurred. |
Stock-Based Compensation | Stock-Based Compensation Expense The Company measures stock-based compensation cost at fair value on the grant date and recognizes the expense over the service period for the awards expected to vest. The fair value of restricted stock units is determined based on the number of shares granted and the closing price of the Company's common stock quoted on NASDAQ on the date of grant. Fair value of stock options is determined based on the Black-Scholes valuation model. The Company recognizes stock-based compensation expense on a straight-line basis, net of estimated forfeitures, over the requisite service period. The Company makes estimates of stock award forfeitures and a number of awards expected to vest which requires significant judgment. The Company considers many factors in developing forfeiture estimates, including award types, employee classes and historical experience. The Company assesses the likelihood of achieving the performance goals for stock-based awards that vest upon the satisfaction of these goals. Current estimates may differ from actual results and future changes in estimates. The following table reflects stock-based compensation expense, excluding amounts related to discontinued operations, recorded during the fiscal years ended September 30, 2015, 2014 and 2013 (in thousands): Year ended September 30, 2015 2014 2013 Restricted stock $ 11,696 $ 10,469 $ 7,112 Employee stock purchase plan 463 445 496 Total stock-based compensation expense $ 12,159 $ 10,914 $ 7,608 |
Valuation Assumptions for Stock Options and Employee Stock Purchase Plans | Valuation Assumptions for an Employee Stock Purchase Plan The fair value of shares issued under the employee stock purchase plan is estimated on the commencement date of each offering period using the Black-Scholes option-pricing model with the following assumptions for the fiscal years ended September 30, 2015, 2014 and 2013: Year ended September 30, 2015 2014 2013 Risk-free interest rate 0.1 % 0.1 % 0.1 % Volatility 31 % 25 % 32 % Expected life 6 months 6 months 6 months Dividend yield 3.40 % 3.40 % 3.30 - 3.40 The risk-free rate is based on the U.S. Treasury yield curve for notes with terms approximating the expected life of the shares granted. The expected stock price volatility is determined based on the Company's historic stock prices over a period commensurate with the expected life of the shares granted. The expected life represents the weighted average period over which the shares are expected to be purchased. Dividend yields are projected based on the Company's history of dividend declarations and management's intention for future dividend declarations. |
Income Taxes | Income Taxes The Company records income taxes using the asset and liability method. Deferred income tax assets and liabilities are recognized for the future tax differences between the financial statement carrying amounts of existing assets and liabilities and their respective income tax bases, as well as operating loss and tax credit carryforwards. The Company's consolidated financial statements contain certain deferred tax assets that were recorded as a result of operating losses, as well as other temporary differences between financial and tax accounting. A valuation allowance is established against deferred tax assets if, based upon the evaluation of positive and negative evidence and the extent to which that evidence is objectively verifiable, it is more likely than not that some or all of the deferred tax assets will not be realized. Significant management judgment is required in determining the Company's income tax provision, the Company's deferred tax assets and liabilities and any valuation allowance recorded against those net deferred tax assets. The Company evaluates the weight of all available evidence to determine whether it is more likely than not that some portion or all of the net deferred income tax assets will not be realized. The calculation of the Company's tax liabilities involves dealing with uncertainties in the application of complex tax regulations. The Company recognizes liabilities for uncertain tax positions based on a two-step process. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained upon an audit or an examination conducted by taxing authorities, including resolution of related appeals or litigation processes, if any. If the Company determines that a tax position will more likely than not be sustained, the second step requires the Company to estimate and measure the tax benefit as the largest amount that is more likely than not to be realized upon ultimate settlement. It is inherently difficult and subjective to estimate such amounts, as the Company has to determine the probability of various possible outcomes. The Company re-evaluates these uncertain tax positions on a quarterly basis. This evaluation is based on factors, such as changes in facts or circumstances, tax law, new audit activity and effectively settled issues. Determining whether an uncertain tax position is effectively settled requires judgment. A change in recognition or measurement may result in the recognition of a tax benefit or an additional charge to the tax provision. |
Earnings Per Share | Earnings Per Share Basic income (loss) per share is determined by dividing net income (loss) by the weighted average common shares outstanding during the period. Diluted income (loss) per share is determined by dividing net income (loss) by diluted weighted average shares outstanding during the period. Diluted weighted average shares reflect the dilutive effect, if any, of potential common shares. To the extent their effect is dilutive, employee equity awards and other commitments to be settled in common stock are included in the calculation of diluted income (loss) per share based on the treasury stock method. Potential common shares are excluded from the calculation of dilutive weighted average shares outstanding if their effect would be anti-dilutive at the balance sheet date. |
Recent Accounting Pronouncements | Recently Issued Accounting Pronouncements In February 2015, the FASB issued an amendment to the accounting guidance for consolidations of financial statements by changing the analysis that a reporting entity must perform to determine whether it should consolidate certain types of legal entities. The guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015. Early adoption is permitted. The guidance can be adopted either via a full retrospective approach or a modified retrospective approach by recording a cumulative-effect adjustment to beginning equity in the period of adoption. The Company will adopt the guidance during the first quarter of fiscal year 2017. The Company is currently evaluating the impact of the guidance on its financial position and results of operations. In January 2015, the FASB issued new accounting guidance to simplify income statement classification by removing the concept of extraordinary items from Generally Accepted Accounting Principles ("GAAP"). As a result, items that are both unusual in nature and infrequent in occurrence will no longer be separately reported net of tax after the results of continuing operations. The guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015 and can be adopted retrospectively or prospectively based on an entity's election. Early adoption is permitted. The Company will adopt the guidance during the first quarter of fiscal year 2017. The adoption of the guidance is not expected to have a material impact on the Company's financial position and results of operations. In May 2014, the FASB issued new accounting guidance for reporting revenue recognition. The guidance provides for the recognition of revenue when promised goods or services are transferred to customers in an amount that reflects the consideration that is expected to be received for those goods or services. A five-step process set forth in the guidance may require more judgment and estimation within the revenue recognition process than the current GAAP, including identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. The guidance was initially effective for fiscal years, and interim periods within those years, beginning after December 15, 2016. In August 2015, the FASB issued an amendment deferring the effective date of the guidance by one year. The guidance should be adopted retrospectively either for each reporting period presented or via recognizing the cumulative effect at the date of the initial application. Early adoption is permitted only as of annual reporting periods, including the interim periods, beginning after December 15, 2016. The Company will adopt the guidance during the first quarter of fiscal year 2019. The Company is currently evaluating the impact of this guidance on its financial position and results of operations. |
Summary of Significant Accoun33
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Sep. 30, 2015 | |
Accounting Policies [Abstract] | |
Summary of Depreciable Lives | Property, plant and equipment are stated at cost, net of accumulated depreciation. Depreciation expense is computed based on the straight-line method and charged to results of operations to allocate the cost of the assets over their estimated useful lives, as follows: Buildings 20 - 40 years Computer equipment and software 2 - 7 years Machinery and equipment 2 - 10 years Furniture and fixtures 3 - 10 years |
Summary of Amortizable Lives of Intangible Assets | Patents 7 - 15 years Completed technology 5 - 10 years Customer relationships 5 - 13 years |
Compensation Expense | The following table reflects stock-based compensation expense, excluding amounts related to discontinued operations, recorded during the fiscal years ended September 30, 2015, 2014 and 2013 (in thousands): Year ended September 30, 2015 2014 2013 Restricted stock $ 11,696 $ 10,469 $ 7,112 Employee stock purchase plan 463 445 496 Total stock-based compensation expense $ 12,159 $ 10,914 $ 7,608 |
Fair Value of Shares Issued under Employee Stock Purchase Plan Estimated using Black-Scholes Option Pricing Model | The fair value of shares issued under the employee stock purchase plan is estimated on the commencement date of each offering period using the Black-Scholes option-pricing model with the following assumptions for the fiscal years ended September 30, 2015, 2014 and 2013: Year ended September 30, 2015 2014 2013 Risk-free interest rate 0.1 % 0.1 % 0.1 % Volatility 31 % 25 % 32 % Expected life 6 months 6 months 6 months Dividend yield 3.40 % 3.40 % 3.30 - 3.40 |
Discontinued Operations (Tables
Discontinued Operations (Tables) | 12 Months Ended |
Sep. 30, 2015 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Schedules of Discontinued Operations | Summarized results of the discontinued operation are as follows for the fiscal years ended September 30, 2014 and 2013 (in thousands): Year Ended September 30, 2014 2013 Revenue $ 18,921 $ 28,512 Income from discontinued operations 4,888 $ 7,779 Gain on the sale of the discontinued operations 56,804 — Income tax provision 31,690 2,815 Income from discontinued operations, net of tax $ 30,002 $ 4,964 |
Acquisitions (Tables)
Acquisitions (Tables) | 12 Months Ended |
Sep. 30, 2015 | |
Business Combinations [Abstract] | |
Amounts of Assets and Liabilities at Fair Value as of Acquisition Date | The Company recorded the assets and liabilities associated with the purchase of the Matrical Assets and Crossing at their fair values as of their respective acquisition dates. The amounts recorded were as follows (in thousands): Matrical Assets Crossing Accounts receivable $ 636 $ 5,356 Inventory 2,095 8,668 Prepaid and other current assets 103 1,968 Property, plant and equipment 534 2,270 Completed technology 500 10,530 Customer relationships 1,500 20,010 Goodwill 7,076 26,453 Other long-term assets — 885 Debt (902 ) — Accounts payable (294 ) (3,024 ) Deferred revenue (351 ) (319 ) Customer deposits (1,249 ) — Other current liabilities (322 ) (5,560 ) Other long-term liabilities — (8,232 ) Total purchase price, net of cash acquired $ 9,326 $ 59,005 The Company recorded the assets acquired and the liabilities assumed related to DMS at their fair values as of the acquisition date. The amounts recorded were as follows (in thousands): Fair Values of Assets and Liabilities Accounts receivable $ 15,262 Inventory 10,051 Prepaid and other current assets 2,727 Property, plant and equipment 2,049 Completed technology 3,610 Customer relationships 7,100 Goodwill 11,638 Accounts payable (10,393 ) Accrued liabilities (5,522 ) Deferred revenue (1,309 ) Long-term deferred tax liabilities (3,588 ) Total purchase price, net of cash acquired $ 31,625 The Company recorded the assets acquired and liabilities assumed related to Contact at their fair values as of the acquisition date. The preliminary amounts recorded were as follows (in thousands): Fair Value of Assets and Liabilities Accounts receivable $ 42 Inventories 2,020 Prepaid expenses and other current assets 484 Property, plant and equipment 1,130 Completed technology 2,290 Goodwill 3,144 Other assets 1,410 Accounts payable (1,089 ) Accrued liabilities (1,823 ) Long-term deferred tax liabilities (774 ) Total purchase price, net of cash acquired $ 6,834 The Company recorded the following amounts for the assets acquired and liabilities assumed related to FluidX at their fair values as of the acquisition date (in thousands): Fair Values of Assets and Liabilities Accounts receivable $ 1,980 Inventory 2,857 Prepaid and other current assets 213 Property, plant and equipment 101 Completed technology 1,230 Trademarks and trade names 750 Customer relationships 4,810 Goodwill 8,247 Accounts payable (2,079 ) Deferred revenue (72 ) Accrued liabilities (992 ) Long-term deferred tax liabilities (1,540 ) Total purchase price, net of cash acquired $ 15,505 |
Marketable Securities (Tables)
Marketable Securities (Tables) | 12 Months Ended |
Sep. 30, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Summary of Marketable Securities Including Accrued Interest Receivable | The following is a summary of the amortized cost and the fair value, including accrued interest receivable, as well as unrealized holding gains (losses) on the short-term and long-term marketable securities as of September 30, 2015 and 2014 (in thousands): Amortized Gross Gross Fair Value September 30, 2015: U.S. Treasury securities and obligations of U.S. government agencies $ 30,343 $ 39 $ — $ 30,382 Corporate securities 54,725 13 (48 ) 54,690 Mortgage-backed securities 857 27 884 Other debt securities 5,056 3 5,059 Municipal securities 30,258 18 (9 ) 30,267 Bank certificate of deposits 12,024 2 12,026 $ 133,263 $ 102 $ (57 ) $ 133,308 September 30, 2014: U.S. Treasury securities and obligations of U.S. government agencies $ 26,052 $ 1 $ (39 ) $ 26,014 Corporate securities 74,614 23 (174 ) 74,463 Mortgage-backed securities 964 36 — 1,000 Other debt securities 7,358 — (10 ) 7,348 Municipal securities 15,888 1 (16 ) 15,873 Bank certificate of deposits 26,645 2 (3 ) 26,644 $ 151,521 $ 63 $ (242 ) $ 151,342 |
Fair Value of Marketable Securities by Contractual Maturity | The fair values of the marketable securities by contractual maturities at September 30, 2015 are presented below (in thousands). Expected maturities could differ from contractual maturities because the security issuers may have the right to prepay obligations without prepayment penalties. Fair Value Due in one year or less $ 70,021 Due after one year through five years 60,156 Due after ten years 3,131 $ 133,308 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 12 Months Ended |
Sep. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ssets and liabilities measured and recorded at fair value on a recurring basis in the accompanying Consolidated Balance Sheets as of September 30, 2015 and 2014 (in thousands): Fair Value Measurements at Reporting Date Using Description September 30, Quoted Prices in Significant Other Significant Assets: Cash equivalents $ 11,628 $ 10,133 $ 1,495 $ — Available-for-sale securities 133,308 — 133,308 — Foreign exchange contracts 89 89 — Convertible debt securities $ 5,337 $ — $ — $ 5,337 Stock warrants 59 — — 59 Total Assets $ 150,421 $ 10,133 $ 134,892 $ 5,396 Liabilities: Contingent consideration $ 811 $ — $ — $ 811 Foreign exchange contracts 36 — 36 — Total Liabilities $ 847 $ — $ 36 $ 811 The convertible debt securities and stock warrants are included in "Other assets" in the accompanying Consolidated Balance Sheets as of September 30, 2015 and 2014. Please refer to Note 9, "Equity Method Investments" for further information on the convertible debt securities and stock warrants. Fair Value Measurements at Reporting Date Using Description September 30, Quoted Prices in Significant Other Significant Assets: Cash equivalents $ 6,404 $ 5,166 $ 1,238 $ — Available-for-sale securities 151,342 — 151,342 — Total Assets $ 157,746 $ 5,166 $ 152,580 $ — Liabilities: Foreign exchange contracts $ 58 $ — $ 58 $ — |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation | The following table presents the reconciliation of the assets measured and recorded at fair value on a recurring basis using significant unobservable inputs (Level 3) (in thousands): Convertible Debt Securities Stock Warrants Contingent Consideration Total Balance at September 30, 2014 $ — $ — $ — $ — Additions (1) 4,934 75 811 5,820 Change in fair value 403 (16 ) — 387 Balance at September 30, 2015 $ 5,337 $ 59 $ 811 $ 6,207 _________________ (1) Please refer to Note 9, "Equity Method Investments". |
Property, Plant and Equipment (
Property, Plant and Equipment (Tables) | 12 Months Ended |
Sep. 30, 2015 | |
Property, Plant and Equipment [Abstract] | |
Schedule of Realized Gain on Sale of Building and Land | The components of the gain on the sale recognized in fiscal year 2013 are as follows (in thousands): Amount Sale proceeds $ 11,275 Net book value of building and land (6,095 ) Deferred leasing costs and other (3,718 ) Direct transaction costs (437 ) Gain on the sale of building and land $ 1,025 |
Property, Plant and Equipment | Property, plant and equipment were as follows as of September 30, 2015 and 2014 (in thousands): September 30, 2015 2014 Buildings and land $ 43,765 $ 47,639 Computer equipment and software 58,715 59,962 Machinery and equipment 43,185 42,104 Furniture and fixtures 5,310 4,774 Leasehold improvements 13,617 17,771 Capital projects in progress 4,427 1,528 169,019 173,778 Less accumulated depreciation and amortization (127,164 ) (123,595 ) Property, plant and equipment, net $ 41,855 $ 50,183 |
Goodwill and Intangible Assets
Goodwill and Intangible Assets (Tables) | 12 Months Ended |
Sep. 30, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Components of Goodwill By Business Segment | The components of the Company’s goodwill by an operating segment at September 30, 2015 and 2014 are as follows (in thousands): Brooks Brooks Brooks Other Total Gross goodwill, at September 30, 2013 $ 482,637 $ 156,792 $ 47,439 $ 26,014 $ 712,882 Accumulated goodwill impairments (437,706 ) (151,238 ) — (26,014 ) (614,958 ) Goodwill, net of accumulated impairments, at September 30, 2013 44,931 5,554 47,439 — 97,924 Acquisitions and adjustments 11,638 — (61 ) — 11,577 Gross goodwill, at September 30, 2014 494,275 156,792 47,378 26,014 724,459 Accumulated goodwill impairments (437,706 ) (151,238 ) — (26,014 ) (614,958 ) Goodwill, net of accumulated impairments, at September 30, 2014 56,569 5,554 47,378 — 109,501 Acquisitions and adjustments 3,660 — 8,247 — 11,907 Gross goodwill, at September 30, 2015 497,935 156,792 55,625 26,014 736,366 Accumulated goodwill impairments (437,706 ) (151,238 ) — (26,014 ) (614,958 ) Goodwill, net of accumulated impairments, at September 30, 2015 $ 60,229 $ 5,554 $ 55,625 $ — $ 121,408 |
Components of Identifiable Intangible Assets | omponents of the Company’s identifiable intangible assets as of September 30, 2015 and 2014 are as follows (in thousands): September 30, 2015 September 30, 2014 Cost Accumulated Net Book Cost Accumulated Net Book Patents $ 7,808 $ 7,394 $ 414 $ 7,808 $ 7,300 $ 508 Completed technology 60,748 46,718 14,030 57,155 41,539 15,616 Trademarks and trade names 4,241 3,604 637 3,496 3,496 — Customer relationships 77,716 37,351 40,365 73,389 29,963 43,426 $ 150,513 $ 95,067 $ 55,446 $ 141,848 $ 82,298 $ 59,550 |
Estimated Future Amortization Expense for Intangible Assets | Estimated future amortization expense for the intangible assets as of September 30, 2015 is as follows (in thousands): Year ended September 30, 2016 $ 12,180 2017 11,037 2018 8,677 2019 7,945 2020 7,224 Thereafter 8,383 $ 55,446 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 12 Months Ended |
Sep. 30, 2015 | |
Earnings Per Share [Abstract] | |
Reconciliation of Weighted Average Shares Outstanding for Calculating Basic and Diluted Earnings Per Share | for the fiscal years ended September 30, 2015, 2014 and 2013 (in thousands, except per share data): Year ended September 30, 2015 2014 2013 Income (loss) from continuing operations $ 14,221 $ 1,520 $ (7,114 ) Income from discontinued operations, net of tax — 30,002 4,964 Net income (loss) 14,221 31,522 (2,150 ) Net income attributable to noncontrolling interests — (161 ) (65 ) Net income (loss) attributable to Brooks Automation, Inc. $ 14,221 $ 31,361 $ (2,215 ) Weighted average common shares outstanding used in computing basic earnings per share 67,411 66,648 65,912 Dilutive common stock options and restricted stock units 1,138 996 — Weighted average common shares outstanding used in computing diluted earnings per share 68,549 67,644 65,912 Basic net income (loss) per share attributable to Brooks Automation, Inc. common stockholders: Income (loss) from continuing operations $ 0.21 $ 0.02 $ (0.11 ) Income from discontinued operations, net of tax — 0.45 0.08 Basic net income (loss) per share attributable to Brooks Automation, Inc. $ 0.21 $ 0.47 $ (0.03 ) Diluted net income (loss) per share attributable to Brooks Automation, Inc. common stockholders: Income (loss) from continuing operations $ 0.21 $ 0.02 $ (0.11 ) Income from discontinued operations, net of tax — 0.44 0.08 Diluted net income (loss) per share attributable to Brooks Automation, Inc. common stockholders $ 0.21 $ 0.46 $ (0.03 ) |
Derivative Instruments (Tables)
Derivative Instruments (Tables) | 12 Months Ended |
Sep. 30, 2015 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Net Gains and Losses Recorded | Net gains and losses related to these contracts are recorded as a component of "Other income, net" in the accompanying Consolidated Statements of Operations and are as follows for the fiscal years ended September 30, 2015, 2014 and 2013 (in thousands): Years Ended September 30, 2015 2014 2013 Realized gains on derivatives not designated as hedging instruments $ 628 $ 185 $ 123 |
Notional Amounts Outstanding under Foreign Currency Contracts | The Company had the following notional amounts outstanding under foreign currency contracts that do not qualify for hedge accounting at September 30, 2015 and 2015 (in thousands): September 30, 2015: Buy Currency Notional Amount Sell Currency Maturity Notional Amount Fair Value of Fair Value of U.S. Dollar 1,543 Korean Won October 2015 1,852,000 $ — $ (6 ) British Pound 2,157 Euro October 2015 1,600 — (29 ) U.S. Dollar 1,336 Japanese Yen December 2015 160,000 2 — U.S. Dollar 662 Taiwan Dollar October 2015 22,000 (1 ) U.S. Dollar 4,308 British Pound October 2015 6,520 32 — U.S. Dollar 5,177 Chinese Yuan October 2015 33,000 15 — Euro 9,300 U.S. Dollar October 2015 8,253 40 — U.S. Dollar 425 Japanese Yen October 2015 51,000 — — U.S. Dollar 457 Israeli Shekel October 2015 1,800 — — 89 (36 ) September 30, 2014: Buy Currency Notional Amount Sell Currency Maturity Notional Amount Fair Value of Fair Value of U.S. dollar 1,736 Japanese yen October 2014 to December 2014 190,000 $ — $ 11 U.S. dollar 1,395 Euro October 2014 1,100 — 16 U.S. dollar 656 Taiwan dollar October 2014 20,000 — 5 U.S. dollar 650 British pound October 2014 400 — 5 U.S. dollar 731 Israeli shekel October 2014 2,700 — 5 U.S. dollar 76 Korean won October 2014 80,000 — 1 British pound 3,513 Euro October 2014 4,500 — 15 $ — $ 58 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Sep. 30, 2015 | |
Income Tax Disclosure [Abstract] | |
Components of Income Tax Provision (Benefit) | The components of the income tax provision (benefit), excluding amounts related to the discontinued operations, for the fiscal years ended September 30, 2015, 2014 and 2013 are as follows (in thousands): Year Ended September 30, 2015 2014 2013 Current income tax provision: Federal $ 10 $ 15 $ 15 State 56 177 70 Foreign 5,537 1,417 681 Total current income tax provision 5,603 1,609 766 Deferred income tax benefit: Federal (1,773 ) (2,276 ) (5,245 ) State (104 ) (35 ) (183 ) Foreign (296 ) (1,278 ) (323 ) Total deferred income tax benefit (2,173 ) (3,589 ) (5,751 ) Income tax provision (benefit) $ 3,430 $ (1,980 ) $ (4,985 ) |
Components of Income Before Income Taxes and Equity in Earnings of Joint Ventures | The components of income (loss) before income taxes and equity in earnings (losses) of equity method investments for the fiscal years ended September 30, 2015, 2014 and 2013 are as follows (in thousands): Year Ended September 30, 2015 2014 2013 Domestic $ (1,321 ) $ (7,338 ) $ (14,747 ) Foreign 19,136 5,643 206 $ 17,815 $ (1,695 ) $ (14,541 ) |
Differences between Income Tax Provision (benefit) and Income Taxes Computed using Applicable U.S. Statutory Federal Tax Rate | The differences between the income tax provision (benefit) and income taxes computed using the applicable U.S. statutory federal tax rate for the fiscal years ended September 30, 2015, 2014 and 2013 are as follows (in thousands): Year Ended September 30, 2015 2014 2013 Income tax provision (benefit) computed at federal statutory rate $ 6,177 $ (217 ) $ (4,257 ) State income taxes, net of federal benefit 243 (12 ) (101 ) Foreign income taxed at different rates (938 ) (596 ) 493 Dividends (1,069 ) (1,373 ) 115 Change in deferred tax asset valuation allowance (36 ) 453 523 Reduction in uncertain tax positions (1,207 ) (1,236 ) (1,022 ) Nondeductible compensation 1,325 1,064 474 Tax credits (1,741 ) (704 ) (2,002 ) Travel and entertainment 314 220 124 Merger costs 228 187 251 Other 134 234 417 Income tax provision (benefit) $ 3,430 $ (1,980 ) $ (4,985 ) |
Significant Components of Net Deferred Tax Assets and Liabilities | The significant components of the net deferred tax assets and liabilities as of September 30, 2015 and 2014 are as follows (in thousands): September 30, 2015 2014 Accruals and reserves not currently deductible $ 9,602 $ 12,456 Federal, state and foreign tax credits 22,115 20,434 Other assets 5,939 3,523 Net operating loss carryforwards 63,569 67,380 Inventory reserves and valuation 10,598 9,956 Deferred tax assets 111,823 113,749 Depreciation and intangible amortization 9,388 12,198 Deferred tax liabilities 9,388 12,198 Valuation allowance (18,797 ) (18,354 ) Net deferred tax asset $ 83,638 $ 83,197 |
Reconciliation of Beginning and Ending Amount of Consolidated Liability for Unrecognized Income Tax Benefits | A reconciliation of the beginning and ending amount of the consolidated liability for unrecognized income tax benefits during the fiscal years ended September 30, 2015, 2014 and 2013 is as follows (in thousands): Unrecognized Tax Interest Total Balance at October 1, 2012 $ 5,961 $ 1,644 $ 7,605 Additions for tax positions of prior years — 228 228 Additions for tax positions related to acquired entities 116 — 116 Reductions from lapses in statutes of limitations (944 ) (78 ) (1,022 ) Foreign exchange rate adjustment 14 — 14 Balance at September 30, 2013 5,147 1,794 6,941 Additions for tax positions of prior years — 286 286 Reductions from lapses in statutes of limitations (861 ) (375 ) (1,236 ) Foreign exchange rate adjustment (24 ) — (24 ) Balance at September 30, 2014 4,262 1,705 5,967 Additions for tax positions of prior years — 221 221 Reductions from settlements with taxing authorities (1,304 ) — (1,304 ) Reductions from lapses in statutes of limitations (734 ) (473 ) (1,207 ) Foreign exchange rate adjustment (33 ) — (33 ) Balance at September 30, 2015 $ 2,191 $ 1,453 $ 3,644 |
Postretirement Benefits (Tables
Postretirement Benefits (Tables) | 12 Months Ended |
Sep. 30, 2015 | |
Compensation and Retirement Disclosure [Abstract] | |
Funded Status and Amounts Recognized in Consolidated Balance Sheet | The Company uses September 30th as a measurement date to determine net periodic benefit costs, benefit obligations and the value of plan assets for all plans. The following tables set forth the funded status and amounts recognized in the Company’s Consolidated Balance Sheets as of September 30, 2015 and 2014 (in thousands): September 30, 2015 2014 Benefit obligation at beginning of fiscal year $ 8,213 $ 7,107 Service cost 482 406 Interest cost 124 154 Actuarial loss 733 968 Benefits paid (209 ) (141 ) Employee contributions 444 — Settlements paid (1,795 ) — Foreign currency translation (331 ) (281 ) Benefit obligation at end of fiscal year $ 7,661 $ 8,213 Fair value of assets at beginning of fiscal year $ 6,131 $ 5,996 Actual return on plan assets 112 98 Disbursements (334 ) (264 ) Employer contributions 306 302 Employee contributions 642 200 Settlements paid (1,795 ) — Foreign currency translation (224 ) (201 ) Fair value of assets at end of fiscal year $ 4,838 $ 6,131 Accrued benefit obligation $ 2,823 $ 2,082 |
Pension Amounts Recorded Within Account Line Items of Consolidated Balance Sheets | The following table provides pension-related amounts and their classification within the accompanying Consolidated Balance Sheets as of September 30, 2015 and 2014 (in thousands): September 30, 2015 2014 Accrued compensation and benefits $ 298 $ 308 Long-term pension liability 2,525 1,774 2,823 2,082 |
Net Periodic Pension Cost | The components of the Company’s net pension cost for the fiscal years ended September 30, 2015, 2014 and 2013 are as follows (in thousands): Year ended September 30, 2015 2014 2013 Service cost $ 482 $ 406 $ 604 Interest cost 124 154 148 Expected return on plan assets (210 ) (214 ) (247 ) Amortization of losses 2 2 4 Other — — 160 Net periodic pension cost 398 348 669 Settlement loss 232 — 87 Total pension cost $ 630 $ 348 $ 756 |
Other changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Loss | changes in Plans' assets and benefit obligations were recognized in other comprehensive income (loss) as of September 30, 2015 and 2014 (in thousands): September 30, 2015 2014 Net loss $ 722 $ 961 Amortization of net loss (2 ) (2 ) Settlement loss (232 ) — Total recognized in other comprehensive income (loss) 488 959 Total recognized in net periodic pension cost and other comprehensive income (loss) $ 886 $ 1,307 |
Weighted-Average Assumptions Used to Determine Net Cost or Pension Obligation | Weighted-average assumptions used to determine the projected benefit obligation for the fiscal years ended September 30, 2015, 2014 and 2013 are as follows: Year Ended September 30, 2015 2014 2013 Discount rate 0.92 % 1.55 % 2.15 % Expected return on plan assets 1.78 % 2.18 % 2.17 % Expected rate of compensation increases 1.65 % 1.87 % 1.89 % |
Asset Allocation of Plan Assets | The allocation of the Plans' assets at September 30, 2015 is as follows: September 30, 2015 Cash 72 % Debt securities 8 Equity securities 7 Other 13 100 % |
Fair Value of Pension Assets by Asset Category and by Level | The fair values of pension assets by asset category and by level at September 30, 2015 are as follows (in thousands): As of September 30, 2015 Level 1 Level 2 Level 3 Total Swiss Life collective foundation $ — $ 4,347 $ — $ 4,347 Taiwan collective trust — 491 — 491 Total $ — $ 4,838 $ — $ 4,838 The fair values of pension assets by asset category and by level at September 30, 2014 are as follows (in thousands): As of September 30, 2014 Level 1 Level 2 Level 3 Total Swiss Life collective foundation $ — $ 5,608 $ — $ 5,608 Taiwan collective trust — 523 — 523 Total $ — $ 6,131 $ — $ 6,131 |
Expected Benefit Payments over the Next Ten Years | enefit payments expected to be paid over the next five fiscal years and thereafter are as follows (in thousands): 2016 $ 218 2017 52 2018 53 2019 54 2020 112 Thereafter (through 2025) 748 |
Stockholders' Equity (Tables)
Stockholders' Equity (Tables) | 12 Months Ended |
Sep. 30, 2015 | |
Equity [Abstract] | |
Schedule of Accumulated Other Comprehensive Income (Loss) | The following is a summary of the components of accumulated other comprehensive income, net of tax, at September 30, 2015, 2014 and 2013 (in thousands): Currency Translation Adjustments Unrealized Gains (Losses) on Available-for-Sale Securities Unrealized Gains (Losses) on Cash Flow Hedges Pension Liability Adjustments Total Balance at September 30, 2012 $ 24,511 $ 201 $ — $ (1,070 ) $ 23,642 Other comprehensive (loss) income before reclassifications (2,113 ) (114 ) 14 1,109 (1,104 ) Amounts reclassified from accumulated other comprehensive income — (21 ) — 87 66 Balance at September 30, 2013 22,398 66 14 126 22,604 Other comprehensive (loss) income before reclassifications (6,296 ) (78 ) 79 (503 ) (6,798 ) Amounts reclassified from accumulated other comprehensive income — (26 ) (93 ) — (119 ) Balance at September 30, 2014 16,102 (38 ) — (377 ) 15,687 Other comprehensive income before reclassifications (9,426 ) 144 — (605 ) (9,887 ) Amounts reclassified from accumulated other comprehensive income (131 ) (3 ) — 232 98 Balance at September 30, 2015 $ 6,545 $ 103 $ — $ (750 ) $ 5,898 |
Equity Incentive Plans (Tables)
Equity Incentive Plans (Tables) | 12 Months Ended |
Sep. 30, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock Option Activity | The following table summarizes stock option activity for all the aforementioned plans for the fiscal year ended September 30, 2015: 2015 Shares Weighted- Weighted Aggregate Outstanding at September 30, 2014 5,550 0.3 years $ 13.20 Forfeited / Expired (5,550 ) $ 13.20 Outstanding at September 30, 2015 — 0.0 years $ — Vested at September 30, 2015 — 0.0 years $ — Exercisable at September 30, 2015 — 0.0 years $ — |
Restricted Stock Activity | 2014 Shares Weighted Outstanding at September 30, 2014 2,726,485 $ 11.05 Granted 1,513,281 $ 11.89 Vested (709,619 ) $ 9.40 Forfeited (272,734 ) $ 10.40 Outstanding at September 30, 2015 3,257,413 $ 9.95 |
Restricted Stock Grants | Total Units Time-Based Units Stock Grants Performance-Based Units Year ended September 30, 2015 1,513,281 597,250 69,281 846,750 Year ended September 30, 2014 1,517,057 596,212 82,095 838,750 Year ended September 30, 2013 1,471,977 716,625 77,977 677,375 |
Restructuring and Other Charg46
Restructuring and Other Charges (Tables) | 12 Months Ended |
Sep. 30, 2015 | |
Restructuring and Related Activities [Abstract] | |
Activity Related to Restructuring Accruals | The following is a summary of activity related to the Company’s restructuring and other charges, excluding amounts related to the discontinued operations, for the fiscal years ended September 30, 2015, 2014 and 2013 (in thousands): Fiscal Year 2015 Activity Balance Expenses Payments Balance Facility and other contract termination costs $ 71 $ 1,204 $ (842 ) $ 433 Workforce-related termination benefits 3,404 3,213 (4,977 ) 1,640 $ 3,475 $ 4,417 $ (5,819 ) $ 2,073 Fiscal Year 2014 Activity Balance Expenses Payments Balance Facility and other contract termination costs $ 155 $ 583 $ (667 ) $ 71 Workforce-related termination benefits 1,257 5,706 (3,559 ) 3,404 $ 1,412 $ 6,289 $ (4,226 ) $ 3,475 Fiscal Year 2013 Activity Balance Expenses Payments Balance Facility and other contract termination costs $ — $ 818 $ (663 ) $ 155 Workforce-related termination benefits $ 2,098 $ 5,475 $ (6,316 ) 1,257 $ 2,098 $ 6,293 $ (6,979 ) $ 1,412 |
Segment and Geographic Inform47
Segment and Geographic Information (Tables) | 12 Months Ended |
Sep. 30, 2015 | |
Segment Reporting [Abstract] | |
Financial Information for Business Segments | The following is the summary of the financial information for the Company’s operating and reportable segments, excluding amounts related to the discontinued operations, for the fiscal years ended September 30, 2015, 2014 and 2013 (in thousands): Brooks Brooks Brooks Total Fiscal year ended September 30, 2015: Revenue Product $ 389,425 $ 17,154 $ 50,832 $ 457,411 Services 703 77,355 17,239 95,297 Segment revenue $ 390,128 $ 94,509 $ 68,071 $ 552,708 Gross profit $ 138,446 $ 32,933 $ 17,726 $ 189,105 Segment operating income (loss) 35,780 13,915 (19,580 ) 30,115 Depreciation expense 3,832 480 1,295 5,607 Assets 260,011 57,058 110,910 427,979 Fiscal year ended September 30, 2014: Revenue Product $ 325,639 $ 14,978 $ 46,415 $ 387,032 Services — 79,083 16,733 95,816 Segment revenue $ 325,639 $ 94,061 $ 63,148 $ 482,848 Gross profit $ 111,746 $ 32,168 $ 23,423 $ 167,337 Segment operating income (loss) 10,836 12,451 (8,431 ) 14,856 Depreciation expense 8,316 2,361 2,022 12,699 Assets 252,944 58,678 103,498 415,120 Fiscal year ended September 30, 2013: Revenue Product $ 290,523 $ 13,152 $ 31,336 $ 335,011 Services — 75,477 11,952 87,429 Segment revenue $ 290,523 $ 88,629 $ 43,288 $ 422,440 Gross profit $ 91,255 $ 26,912 $ 14,140 $ 132,307 Segment operating income (loss) 1,116 9,592 (12,380 ) (1,672 ) Depreciation expense 8,698 2,746 2,256 13,700 Assets 226,759 59,762 105,221 391,742 |
Reconciliation of Reportable Segment Operating Income to Corresponding Consolidated Amounts | The following is a reconciliation of the Company’s operating and reportable segments' operating income (loss) and segment assets to the corresponding amounts presented in the accompanying Consolidated Balance Sheets and Consolidated Statements of Operations for the fiscal years ended September 30, 2015, 2014 and 2013 (in thousands): As of and for the Year Ended 2015 2014 2013 Segment operating income (loss) $ 30,115 $ 14,856 $ (1,672 ) Other unallocated corporate expenses 856 5,096 3,002 Amortization of acquired intangible assets 7,656 6,170 5,694 Impairment of acquired intangible assets — — 50 Restructuring and other charges 4,713 6,289 6,380 Total operating income (loss) $ 16,890 $ (2,699 ) $ (16,798 ) |
Reconciliation of Reportable Segment Assets to Corresponding Consolidated Amounts | Segment assets $ 427,979 $ 415,120 Cash, cash equivalents and marketable securities 214,030 245,456 Deferred tax assets 89,959 86,572 Assets held for sale 2,900 — Equity method investments 24,286 28,944 Other unallocated corporate net assets 500 1,946 Total assets $ 759,654 $ 778,038 |
Net Revenues by Geographic Area | Net revenue by geographic area for the fiscal years ended September 30, 2015, 2014 and 2013 are as follows (in thousands): Year Ended September 30, 2015 2014 2013 North America $ 199,103 $ 174,343 $ 177,779 Asia / Pacific 121,765 198,695 154,358 Europe 231,840 109,810 90,303 $ 552,708 $ 482,848 $ 422,440 |
Long-Lived Assets, Consisting of Property, Plant and Equipment by Geographic Area | Property, plant and equipment by geographic area as of September 30, 2015 and 2014 are as follows (in thousands): September 30, 2015 2014 North America $ 36,402 $ 40,232 Asia / Pacific 2,104 870 Europe 3,349 9,081 $ 41,855 $ 50,183 |
Supplementary Balance Sheet I48
Supplementary Balance Sheet Information (Tables) | 12 Months Ended |
Sep. 30, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Summary of Accounts Receivable | The following is a summary of accounts receivable at September 30, 2015 and 2014 (in thousands): September 30, 2015 2014 Accounts receivable $ 87,582 $ 81,270 Less allowance for doubtful accounts (1,019 ) (1,031 ) Less allowance for sales returns (115 ) (133 ) $ 86,448 $ 80,106 |
Allowance for Doubtful Accounts Activity | The allowance for doubtful accounts activity for the fiscal years ended September 30, 2015, 2014 and 2013 is as follows (in thousands): Description Balance at Provisions Reversals of Write-offs and Balance at 2015 Allowance for doubtful accounts $ 1,031 $ — $ — $ 12 $ 1,019 2014 Allowance for doubtful accounts 863 438 (315 ) 45 1,031 2013 Allowance for doubtful accounts 851 48 (143 ) 107 863 As part of the acquisition of Crossing in fiscal year 2013, the Company acquired a contract in which a certain customer has a right of return on the purchase of spare parts. The allowance for returns activity for the fiscal years ended September 30, 2015, 2014 and 2013 is as follows (in thousands): Description Balance at Provisions Write-offs and Balance at 2015 Allowance for sales returns $ 133 $ (18 ) $ — $ 115 2014 Allowance for sales returns 114 19 — 133 2013 Allowance for sales returns — 72 42 114 |
Summary of Inventories | The following is a summary of inventories at September 30, 2015 and 2014, excluding amounts related to discontinued operations (in thousands): September 30, 2015 2014 Inventories Raw materials and purchased parts $ 62,441 $ 57,250 Work-in-process 21,563 20,068 Finished goods 16,615 16,249 $ 100,619 $ 93,567 |
Product Warranty and Retrofit Activity on a Gross Basis | The Company establishes reserves for estimated cost of product warranties developed based on historical information. Product warranty reserves are recorded at the time product revenue is recognized, and retrofit accruals are recorded at the time retrofit programs are established. The Company’s warranty obligation is affected by product failure rates, utilization levels, material usage, service delivery costs incurred in correcting a product failure and supplier warranties on parts delivered to the Company. The following is a summary of product warranty and retrofit activity on a gross basis, excluding amounts related to discontinued operations, for the fiscal years ended September 30, 2015, 2014 and 2013 (in thousands): Amount Balance at September 30, 2012 $ 7,246 Adjustments for acquisitions and divestitures 1,187 Accruals for warranties during the year 9,968 Costs incurred during the year (11,141 ) Balance at September 30, 2013 7,260 Adjustments for acquisitions and divestitures 364 Accruals for warranties during the year 9,969 Costs incurred during the year (11,094 ) Balance at September 30, 2014 6,499 Adjustments for acquisitions and divestitures 81 Accruals for warranties during the year 9,917 Costs incurred during the year (10,408 ) Balance at September 30, 2015 $ 6,089 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Sep. 30, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Future Minimum Lease Payments | Future minimum lease commitments on non-cancelable operating leases as of September 30, 2015 are as follows (in thousands): Year ended September 30, Amount 2016 $ 3,097 2017 2,012 2018 1,309 2019 638 2020 86 Thereafter — $ 7,142 |
Summary of Significant Accoun50
Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
Accounting Policies [Abstract] | |||
Cash equivalents | $ 11.6 | $ 6.4 | |
Concentration Risk [Line Items] | |||
Percentage of revenues by customer | 12.00% | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Foreign Currency Transaction Gain (Loss), before Tax | $ 0.5 | $ (1.2) | $ (0.9) |
Top Ten Largest Customers | |||
Concentration Risk [Line Items] | |||
Percentage of revenues by customer | 38.00% | 37.00% | 40.00% |
Customer 1 | |||
Concentration Risk [Line Items] | |||
Percentage of revenues by customer | 12.00% | 11.00% | 11.00% |
Summary of Significant Accoun51
Summary of Significant Accounting Policies - Summary of Depreciable Lives (Detail) | 12 Months Ended |
Sep. 30, 2015 | |
Buildings | Minimum | |
Property, Plant and Equipment [Line Items] | |
Depreciable lives | 20 years |
Buildings | Maximum | |
Property, Plant and Equipment [Line Items] | |
Depreciable lives | 40 years |
Computer equipment and software | Minimum | |
Property, Plant and Equipment [Line Items] | |
Depreciable lives | 2 years |
Computer equipment and software | Maximum | |
Property, Plant and Equipment [Line Items] | |
Depreciable lives | 7 years |
Machinery and equipment | Minimum | |
Property, Plant and Equipment [Line Items] | |
Depreciable lives | 2 years |
Machinery and equipment | Maximum | |
Property, Plant and Equipment [Line Items] | |
Depreciable lives | 10 years |
Furniture and fixtures | Minimum | |
Property, Plant and Equipment [Line Items] | |
Depreciable lives | 3 years |
Furniture and fixtures | Maximum | |
Property, Plant and Equipment [Line Items] | |
Depreciable lives | 10 years |
Summary of Significant Accoun52
Summary of Significant Accounting Policies - Summary of Amortizable Lives of Intangible Assets (Detail) | 12 Months Ended |
Sep. 30, 2015 | |
Patents | Minimum | |
Finite-Lived Intangible Assets [Line Items] | |
Amortizable lives | 7 years |
Patents | Maximum | |
Finite-Lived Intangible Assets [Line Items] | |
Amortizable lives | 15 years |
Completed technology | Minimum | |
Finite-Lived Intangible Assets [Line Items] | |
Amortizable lives | 5 years |
Completed technology | Maximum | |
Finite-Lived Intangible Assets [Line Items] | |
Amortizable lives | 10 years |
Customer relationships | Minimum | |
Finite-Lived Intangible Assets [Line Items] | |
Amortizable lives | 5 years |
Customer relationships | Maximum | |
Finite-Lived Intangible Assets [Line Items] | |
Amortizable lives | 13 years |
Summary of Significant Accoun53
Summary of Significant Accounting Policies - Compensation Expense (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||
Stock-based compensation | $ 12,159 | $ 10,914 | $ 7,608 |
Restricted stock | |||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||
Stock-based compensation | 11,696 | 10,469 | 7,112 |
Employee stock purchase plan | |||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||
Stock-based compensation | $ 463 | $ 445 | $ 496 |
Summary of Significant Accoun54
Summary of Significant Accounting Policies - Fair Value of Shares Issued under Employee Stock Purchase Plan Estimated using Black-Scholes Option Pricing Model (Detail) | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Risk-free interest rate | 0.10% | 0.10% | 0.10% |
Volatility | 31.00% | 25.00% | 32.00% |
Expected life | 6 months | 6 months | 6 months |
Dividend yield | 3.40% | 3.40% | |
Minimum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Dividend yield | 3.30% | ||
Maximum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Dividend yield | 3.40% |
Discontinued Operations - Narra
Discontinued Operations - Narrative (Details) - USD ($) $ in Thousands | Mar. 19, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||
Proceeds from divestitures | $ 0 | $ 85,369 | $ 0 | |
Granville-Phillips [Member] | ||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||
Proceeds from divestitures | $ 87,000 |
Discontinued Operations - Resul
Discontinued Operations - Results of Operations (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Income from discontinued operations, net of tax | $ 0 | $ 30,002 | $ 4,964 |
Granville-Phillips [Member] | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Revenue | 18,921 | 28,512 | |
Income from discontinued operations | 4,888 | 7,779 | |
Gain on the sale of the discontinued operations | 56,804 | 0 | |
Income tax provision | 31,690 | 2,815 | |
Income from discontinued operations, net of tax | $ 30,002 | $ 4,964 |
Acquisitions - Additional Infor
Acquisitions - Additional Information (Detail) - USD ($) $ in Thousands | Aug. 14, 2015 | Feb. 03, 2015 | Oct. 01, 2014 | Apr. 30, 2014 | Aug. 01, 2013 | Oct. 29, 2012 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | Oct. 30, 2015 |
Business Acquisition [Line Items] | |||||||||||||
Payments to Acquire Businesses, Net of Cash Acquired | $ 14,450 | $ 35,625 | $ 68,331 | ||||||||||
Net income (loss) | 14,221 | 31,522 | (2,150) | ||||||||||
Amortization expense for intangible assets | 12,900 | 10,600 | 9,800 | ||||||||||
Restructuring charges | 4,417 | 6,289 | 6,293 | ||||||||||
Impairment loss | $ 614,958 | 614,958 | 614,958 | $ 614,958 | |||||||||
Contact Co [Member] | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Payments to Acquire Businesses, Net of Cash Acquired | $ 6,834 | ||||||||||||
Escrow reserve | 1,500 | ||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other | 750 | ||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Contingent Liability | 750 | ||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Long-term Debt | 8,800 | ||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents | (4,800) | ||||||||||||
Business acquisition, cash payment | $ 1,900 | ||||||||||||
Contingent consideration | 800 | ||||||||||||
Contact Co [Member] | Completed technology | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Amortizable lives | 5 years | ||||||||||||
FluidX [Member] | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Payments to Acquire Businesses, Net of Cash Acquired | $ 15,505 | ||||||||||||
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Equity Interests | $ 100 | ||||||||||||
Escrow reserve | 1,500 | ||||||||||||
Revenue of acquiree | 15,000 | ||||||||||||
Net loss of acquiree | 600 | ||||||||||||
Inventory step up | 1,000 | ||||||||||||
Amortization expense for intangible assets | 1,400 | ||||||||||||
Business Acquisition, Transaction Costs | 500 | 200 | |||||||||||
FluidX [Member] | Trademarks [Member] | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Amortizable lives | 5 years | ||||||||||||
FluidX [Member] | Completed technology | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Amortizable lives | 5 years | ||||||||||||
FluidX [Member] | Customer relationships | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Amortizable lives | 5 years | ||||||||||||
Dynamic Micro Systems | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Payments to Acquire Businesses, Net of Cash Acquired | $ 31,625 | ||||||||||||
Merger consideration, net of cash | $ 31,625 | ||||||||||||
Escrow refund | $ 2,200 | ||||||||||||
Escrow reserve | 2,800 | ||||||||||||
Goodwill, Period Increase (Decrease) | $ 300 | ||||||||||||
Revenues | 44,000 | ||||||||||||
Revenue of acquiree | 5,500 | ||||||||||||
Net income (loss) | 3,100 | 4,500 | |||||||||||
Inventory step up | $ 1,900 | 600 | |||||||||||
Amortization expense for intangible assets | 900 | 2,200 | |||||||||||
Business Acquisition, Transaction Costs | $ 400 | ||||||||||||
Restructuring charges | $ 300 | $ 100 | |||||||||||
Dynamic Micro Systems | Completed technology | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Amortizable lives | 5 years | ||||||||||||
Dynamic Micro Systems | Customer relationships | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Amortizable lives | 8 years | ||||||||||||
Matrical | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Merger consideration, net of cash | $ 9,326 | ||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other | 322 | ||||||||||||
Business acquisition, cash payment | 9,300 | ||||||||||||
Matrical | Completed technology | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Amortizable lives | 4 years 7 months | ||||||||||||
Matrical | Customer relationships | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Amortizable lives | 7 years | ||||||||||||
Crossing Automation Inc | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Payments to Acquire Businesses, Net of Cash Acquired | $ 59,000 | ||||||||||||
Merger consideration, net of cash | 59,005 | ||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other | $ 5,560 | ||||||||||||
Crossing Automation Inc | Completed technology | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Amortizable lives | 7 years 8 months | ||||||||||||
Crossing Automation Inc | Customer relationships | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Amortizable lives | 8 years | ||||||||||||
Subsequent Event | Dynamic Micro Systems | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Escrow reserve | $ 2,800 |
Acquisitions - Amounts of Asset
Acquisitions - Amounts of Assets and Liabilities at Fair Value as of Acquisition Date (Detail) - USD ($) $ in Thousands | Aug. 14, 2015 | Oct. 01, 2014 | Apr. 30, 2014 | Oct. 29, 2012 | Jun. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | Aug. 01, 2013 |
Business Acquisition [Line Items] | |||||||||
Net income (loss) | $ 14,221 | $ 31,522 | $ (2,150) | ||||||
Goodwill | 121,408 | 109,501 | 97,924 | ||||||
Amortization of Intangible Assets | 12,900 | 10,600 | 9,800 | ||||||
Restructuring charges | 4,417 | 6,289 | 6,293 | ||||||
Payments to Acquire Businesses, Net of Cash Acquired | 14,450 | 35,625 | $ 68,331 | ||||||
FluidX [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Business Combination, Acquired Receivables, Gross Contractual Amount | $ 1,980 | ||||||||
Revenue of acquiree | 15,000 | ||||||||
Inventory | 2,857 | ||||||||
Prepaid and other current assets | 213 | ||||||||
Property, plant and equipment | 101 | ||||||||
Goodwill | 8,247 | ||||||||
Accounts payable | (2,079) | ||||||||
Accrued liabilities | (992) | ||||||||
Deferred revenue | (72) | ||||||||
Long-term deferred tax liabilities | (1,540) | ||||||||
Net loss of acquiree | 600 | ||||||||
Inventory step up | 1,000 | ||||||||
Amortization of Intangible Assets | 1,400 | ||||||||
Payments to Acquire Businesses, Net of Cash Acquired | 15,505 | ||||||||
FluidX [Member] | Completed technology | |||||||||
Business Acquisition [Line Items] | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 1,230 | ||||||||
FluidX [Member] | Customer relationships | |||||||||
Business Acquisition [Line Items] | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 4,810 | ||||||||
FluidX [Member] | Trademarks [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 750 | ||||||||
Contact Co [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Business Combination, Acquired Receivables, Gross Contractual Amount | $ 42 | ||||||||
Inventory | $ 2,020 | ||||||||
Prepaid and other current assets | 484 | ||||||||
Property, plant and equipment | 1,130 | ||||||||
Goodwill | 3,144 | ||||||||
Other long term assets | 1,410 | ||||||||
Accounts payable | (1,089) | ||||||||
Accrued liabilities | (1,823) | ||||||||
Other current liabilities | (750) | ||||||||
Long-term deferred tax liabilities | (774) | ||||||||
Payments to Acquire Businesses, Net of Cash Acquired | 6,834 | ||||||||
Contact Co [Member] | Completed technology | |||||||||
Business Acquisition [Line Items] | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | $ 2,290 | ||||||||
Dynamic Micro Systems | |||||||||
Business Acquisition [Line Items] | |||||||||
Revenues | 44,000 | ||||||||
Revenue of acquiree | 5,500 | ||||||||
Net income (loss) | 3,100 | $ 4,500 | |||||||
Accounts receivable | $ 15,262 | ||||||||
Inventory | 10,051 | ||||||||
Prepaid and other current assets | 2,727 | ||||||||
Property, plant and equipment | 2,049 | ||||||||
Goodwill | 11,638 | ||||||||
Accounts payable | (10,393) | ||||||||
Accrued liabilities | (5,522) | ||||||||
Deferred revenue | (1,309) | ||||||||
Long-term deferred tax liabilities | (3,588) | ||||||||
Total purchase price, net of cash acquired | 31,625 | ||||||||
Inventory step up | $ 1,900 | 600 | |||||||
Amortization of Intangible Assets | 900 | 2,200 | |||||||
Restructuring charges | $ 300 | $ 100 | |||||||
Payments to Acquire Businesses, Net of Cash Acquired | 31,625 | ||||||||
Dynamic Micro Systems | Completed technology | |||||||||
Business Acquisition [Line Items] | |||||||||
Identifiable intangible assets | 3,610 | ||||||||
Dynamic Micro Systems | Customer relationships | |||||||||
Business Acquisition [Line Items] | |||||||||
Identifiable intangible assets | $ 7,100 | ||||||||
Matrical | |||||||||
Business Acquisition [Line Items] | |||||||||
Accounts receivable | $ 636 | ||||||||
Inventory | 2,095 | ||||||||
Prepaid and other current assets | 103 | ||||||||
Property, plant and equipment | 534 | ||||||||
Goodwill | 7,076 | ||||||||
Other long term assets | 0 | ||||||||
Debt | (902) | ||||||||
Accounts payable | (294) | ||||||||
Deferred revenue | (351) | ||||||||
Customer deposits | (1,249) | ||||||||
Other current liabilities | (322) | ||||||||
Other long-term liabilities | 0 | ||||||||
Total purchase price, net of cash acquired | 9,326 | ||||||||
Matrical | Completed technology | |||||||||
Business Acquisition [Line Items] | |||||||||
Identifiable intangible assets | 500 | ||||||||
Matrical | Customer relationships | |||||||||
Business Acquisition [Line Items] | |||||||||
Identifiable intangible assets | 1,500 | ||||||||
Crossing Automation Inc | |||||||||
Business Acquisition [Line Items] | |||||||||
Accounts receivable | 5,356 | ||||||||
Inventory | 8,668 | ||||||||
Prepaid and other current assets | 1,968 | ||||||||
Property, plant and equipment | 2,270 | ||||||||
Goodwill | 26,453 | ||||||||
Other long term assets | 885 | ||||||||
Debt | 0 | ||||||||
Accounts payable | (3,024) | ||||||||
Deferred revenue | (319) | ||||||||
Customer deposits | 0 | ||||||||
Other current liabilities | (5,560) | ||||||||
Other long-term liabilities | (8,232) | ||||||||
Total purchase price, net of cash acquired | 59,005 | ||||||||
Payments to Acquire Businesses, Net of Cash Acquired | $ 59,000 | ||||||||
Crossing Automation Inc | Completed technology | |||||||||
Business Acquisition [Line Items] | |||||||||
Identifiable intangible assets | 10,530 | ||||||||
Crossing Automation Inc | Customer relationships | |||||||||
Business Acquisition [Line Items] | |||||||||
Identifiable intangible assets | $ 20,010 |
Marketable Securities - Summary
Marketable Securities - Summary of Marketable Securities Including Accrued Interest Receivable (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Sep. 30, 2014 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $ 133,263 | $ 151,521 |
Gross Unrealized Gains | 102 | 63 |
Gross Unrealized Losses | (57) | (242) |
Fair Value | 133,308 | 151,342 |
U.S. Treasury securities and obligations of U.S. government agencies | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 30,343 | 26,052 |
Gross Unrealized Gains | 39 | 1 |
Gross Unrealized Losses | 0 | (39) |
Fair Value | 30,382 | 26,014 |
Corporate securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 54,725 | 74,614 |
Gross Unrealized Gains | 13 | 23 |
Gross Unrealized Losses | (48) | (174) |
Fair Value | 54,690 | 74,463 |
Mortgage-backed securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 857 | 964 |
Gross Unrealized Gains | $ 27 | 36 |
Gross Unrealized Losses | 0 | |
Fair Value | $ 884 | 1,000 |
Other debt securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 5,056 | 7,358 |
Gross Unrealized Gains | $ 3 | 0 |
Gross Unrealized Losses | (10) | |
Fair Value | $ 5,059 | 7,348 |
Municipal securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 30,258 | 15,888 |
Gross Unrealized Gains | 18 | 1 |
Gross Unrealized Losses | (9) | (16) |
Fair Value | 30,267 | 15,873 |
Bank certificate of deposits | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 12,024 | 26,645 |
Gross Unrealized Gains | $ 2 | 2 |
Gross Unrealized Losses | (3) | |
Fair Value | $ 12,026 | $ 26,644 |
Marketable Securities - Additio
Marketable Securities - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
Investments, Debt and Equity Securities [Abstract] | |||
Gross realized gains on sales of available-for-sale marketable securities | $ 2 | $ 35 | $ 57 |
Gross realized losses on sales of available-for-sale marketable securities | 5 | 8 | 36 |
Available-for-sale Securities, Gross Unrealized Gain (Loss) | $ (3) | $ 26 | $ 21 |
Marketable Securities - Fair Va
Marketable Securities - Fair Value of Marketable Securities by Contractual Maturity (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Sep. 30, 2014 |
Investments, Debt and Equity Securities [Abstract] | ||
Due in one year or less | $ 70,021 | |
Due after one year through five years | 60,156 | |
Due after ten years | 3,131 | |
Fair Value | $ 133,308 | $ 151,342 |
Fair Value Measurements - Asset
Fair Value Measurements - Assets and Liabilities Measured at Fair Value (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Sep. 30, 2014 |
Assets | ||
Available-for-sale securities | $ 133,308 | $ 151,342 |
Fair Value, Measurements, Recurring | ||
Assets | ||
Cash equivalents | 11,628 | 6,404 |
Available-for-sale securities | 133,308 | 151,342 |
Foreign exchange contracts | 89 | |
Convertible debt securities | 5,337 | |
Stock warrants | 59 | |
Total Assets | 150,421 | 157,746 |
Liabilities | ||
Contingent consideration | 811 | |
Foreign exchange contracts | 36 | 58 |
Total Liabilities | 847 | |
Fair Value, Measurements, Recurring | Level 1 | ||
Assets | ||
Cash equivalents | 10,133 | 5,166 |
Available-for-sale securities | 0 | 0 |
Convertible debt securities | 0 | |
Stock warrants | 0 | |
Total Assets | 10,133 | 5,166 |
Liabilities | ||
Contingent consideration | 0 | |
Foreign exchange contracts | 0 | 0 |
Total Liabilities | 0 | |
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | ||
Assets | ||
Cash equivalents | 1,495 | 1,238 |
Available-for-sale securities | 133,308 | 151,342 |
Foreign exchange contracts | 89 | |
Convertible debt securities | 0 | |
Stock warrants | 0 | |
Total Assets | 134,892 | 152,580 |
Liabilities | ||
Contingent consideration | 0 | |
Foreign exchange contracts | 36 | 58 |
Total Liabilities | 36 | |
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | ||
Assets | ||
Cash equivalents | 0 | 0 |
Available-for-sale securities | 0 | 0 |
Foreign exchange contracts | 0 | |
Convertible debt securities | 5,337 | |
Stock warrants | 59 | |
Total Assets | 5,396 | 0 |
Liabilities | ||
Contingent consideration | 811 | |
Foreign exchange contracts | 0 | $ 0 |
Total Liabilities | $ 811 |
Fair Value Measurements - Addit
Fair Value Measurements - Additional Information (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Sep. 30, 2014 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | $ 133,308 | $ 151,342 |
Assets held for sale | 2,900 | 0 |
Fair Value, Measurements, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value of Liabilities | 36 | 58 |
Convertible Debt, Fair Value Disclosures | (5,337) | |
Cash equivalents | 11,628 | 6,404 |
Available-for-sale securities | 133,308 | 151,342 |
Foreign exchange contracts | 89 | |
Warrants Not Settleable in Cash, Fair Value Disclosure | (59) | |
Fair Value, Measurements, Recurring | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value of Liabilities | 0 | 0 |
Convertible Debt, Fair Value Disclosures | 0 | |
Cash equivalents | 10,133 | 5,166 |
Available-for-sale securities | 0 | 0 |
Warrants Not Settleable in Cash, Fair Value Disclosure | 0 | |
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value of Liabilities | 36 | 58 |
Convertible Debt, Fair Value Disclosures | 0 | |
Cash equivalents | 1,495 | 1,238 |
Available-for-sale securities | 133,308 | 151,342 |
Foreign exchange contracts | 89 | |
Warrants Not Settleable in Cash, Fair Value Disclosure | 0 | |
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value of Liabilities | 0 | 0 |
Contingent consideration | 811 | |
Convertible Debt, Fair Value Disclosures | (5,337) | |
Cash equivalents | 0 | 0 |
Available-for-sale securities | 0 | $ 0 |
Foreign exchange contracts | 0 | |
Warrants Not Settleable in Cash, Fair Value Disclosure | (59) | |
Assets held for sale | 2,900 | |
Fair Value, Measurements, Nonrecurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | $ 1,000 |
Fair Value Measurements Stock W
Fair Value Measurements Stock Warrant (Details) $ in Thousands | 12 Months Ended |
Sep. 30, 2015USD ($) | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Additions | $ 5,820 |
Change in fair value | 387 |
Balance at September 30, 2015 | 6,207 |
Convertible Debt Securities [Member] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Balance at September 30, 2014 | 0 |
Additions | 4,934 |
Change in fair value | 403 |
Balance at September 30, 2015 | 5,337 |
Warrant [Member] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Balance at September 30, 2014 | 0 |
Additions | 75 |
Change in fair value | (16) |
Balance at September 30, 2015 | 59 |
Contingent Consideration Classified as Equity [Member] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Balance at September 30, 2014 | 0 |
Additions | 811 |
Change in fair value | 0 |
Balance at September 30, 2015 | $ 811 |
Property, Plant and Equipment -
Property, Plant and Equipment - Schedule (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Sep. 30, 2014 |
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | $ 169,019 | $ 173,778 |
Less accumulated depreciation and amortization | (127,164) | (123,595) |
Property, plant and equipment, net | 41,855 | 50,183 |
Buildings and land | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 43,765 | 47,639 |
Computer equipment and software | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 58,715 | 59,962 |
Machinery and equipment | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 43,185 | 42,104 |
Furniture and fixtures | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 5,310 | 4,774 |
Leasehold improvements | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 13,617 | 17,771 |
Capital projects in progress | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | $ 4,427 | $ 1,528 |
Property, Plant and Equipment66
Property, Plant and Equipment - Additional Information (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 |
Property, Plant and Equipment [Line Items] | ||||
Assets held for sale | $ 2,900 | $ 2,900 | $ 0 | |
Loss on Write-down, Assets Held-for-sale | 1,900 | |||
Depreciation expense | 12,300 | $ 12,700 | $ 13,700 | |
Property, Plant and Equipment, Additions | 8,400 | |||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring | ||||
Property, Plant and Equipment [Line Items] | ||||
Assets held for sale | 2,900 | 2,900 | ||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring | Buildings and land | ||||
Property, Plant and Equipment [Line Items] | ||||
Assets held for sale | $ 4,800 | $ 4,800 |
Property, Plant and Equipment C
Property, Plant and Equipment Components of the Gain on the Sale (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2014 | Sep. 30, 2015 | |
Real Estate Properties [Line Items] | ||
Property, plant and equipment, net | $ (50,183) | $ (41,855) |
Chelmsford, Massachusetts Campus | ||
Real Estate Properties [Line Items] | ||
Sale proceeds | 11,275 | |
Property, plant and equipment, net | (6,095) | |
Deferred leasing costs and other | (3,718) | |
Direct transaction costs | (437) | |
Gain on the sale of building and land | 1,025 | |
Oberdiessbach, Switzerland | ||
Real Estate Properties [Line Items] | ||
Sale proceeds | 3,200 | |
Gain on the sale of building and land | $ 200 |
Goodwill and Intangible Asset68
Goodwill and Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
Goodwill and Intangible Assets Disclosure [Line Items] | |||
Impairment loss | $ 0 | $ 398 | $ 1,960 |
Amortization expense for intangible assets | $ 12,900 | 10,600 | 9,800 |
CeligoCell Cytometer product line | |||
Goodwill and Intangible Assets Disclosure [Line Items] | |||
Impairment loss | $ 400 | $ 2,000 |
Goodwill and Intangible Asset69
Goodwill and Intangible Assets - Components of Goodwill by Business Segment (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
Goodwill [Roll Forward] | |||
Gross goodwill, period start | $ 724,459 | $ 712,882 | |
Acquisitions and adjustments during fiscal year | 11,907 | 11,577 | |
Gross goodwill, period end | 736,366 | 724,459 | |
Accumulated goodwill impairments, beginning balance | (614,958) | (614,958) | |
Accumulated goodwill impairments, ending balance | (614,958) | (614,958) | |
Goodwill, less accumulated impairments | 121,408 | 109,501 | $ 97,924 |
Brooks Product Solutions | |||
Goodwill [Roll Forward] | |||
Gross goodwill, period start | 494,275 | 482,637 | |
Acquisitions and adjustments during fiscal year | 3,660 | 11,638 | |
Gross goodwill, period end | 497,935 | 494,275 | |
Accumulated goodwill impairments, beginning balance | (437,706) | (437,706) | |
Accumulated goodwill impairments, ending balance | (437,706) | (437,706) | |
Goodwill, less accumulated impairments | 60,229 | 56,569 | 44,931 |
Brooks Global Services | |||
Goodwill [Roll Forward] | |||
Gross goodwill, period start | 156,792 | 156,792 | |
Acquisitions and adjustments during fiscal year | 0 | 0 | |
Gross goodwill, period end | 156,792 | 156,792 | |
Accumulated goodwill impairments, beginning balance | (151,238) | (151,238) | |
Accumulated goodwill impairments, ending balance | (151,238) | (151,238) | |
Goodwill, less accumulated impairments | 5,554 | 5,554 | 5,554 |
Brooks Life Science Systems | |||
Goodwill [Roll Forward] | |||
Gross goodwill, period start | 47,378 | 47,439 | |
Acquisitions and adjustments during fiscal year | 8,247 | (61) | |
Gross goodwill, period end | 55,625 | 47,378 | |
Accumulated goodwill impairments, beginning balance | 0 | 0 | |
Accumulated goodwill impairments, ending balance | 0 | 0 | |
Goodwill, less accumulated impairments | 55,625 | 47,378 | 47,439 |
Other | |||
Goodwill [Roll Forward] | |||
Gross goodwill, period start | 26,014 | 26,014 | |
Acquisitions and adjustments during fiscal year | 0 | 0 | |
Gross goodwill, period end | 26,014 | 26,014 | |
Accumulated goodwill impairments, beginning balance | (26,014) | (26,014) | |
Accumulated goodwill impairments, ending balance | (26,014) | (26,014) | |
Goodwill, less accumulated impairments | $ 0 | $ 0 | $ 0 |
Goodwill and Intangible Asset70
Goodwill and Intangible Assets - Components of Impaired Intangible Assets (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
Finite-Lived Intangible Assets [Line Items] | |||
Impairment loss | $ 0 | $ 398 | $ 1,960 |
CeligoCell Cytometer product line | |||
Finite-Lived Intangible Assets [Line Items] | |||
Impairment loss | $ 400 | $ 2,000 |
Goodwill and Intangible Asset71
Goodwill and Intangible Assets - Components of Identifiable Intangible Assets (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Sep. 30, 2014 |
Finite-Lived Intangible Assets [Line Items] | ||
Cost | $ 150,513 | $ 141,848 |
Accumulated Amortization | 95,067 | 82,298 |
Net Book Value | 55,446 | 59,550 |
Patents | ||
Finite-Lived Intangible Assets [Line Items] | ||
Cost | 7,808 | 7,808 |
Accumulated Amortization | 7,394 | 7,300 |
Net Book Value | 414 | 508 |
Completed technology | ||
Finite-Lived Intangible Assets [Line Items] | ||
Cost | 60,748 | 57,155 |
Accumulated Amortization | 46,718 | 41,539 |
Net Book Value | 14,030 | 15,616 |
Trademarks and trade names | ||
Finite-Lived Intangible Assets [Line Items] | ||
Cost | 4,241 | 3,496 |
Accumulated Amortization | 3,604 | 3,496 |
Net Book Value | 637 | 0 |
Customer relationships | ||
Finite-Lived Intangible Assets [Line Items] | ||
Cost | 77,716 | 73,389 |
Accumulated Amortization | 37,351 | 29,963 |
Net Book Value | $ 40,365 | $ 43,426 |
Goodwill and Intangible Asset72
Goodwill and Intangible Assets - Estimated Future Amortization Expense for Intangible Assets (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Sep. 30, 2014 |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
2,015 | $ 12,180 | |
2,016 | 11,037 | |
2,017 | 8,677 | |
2,018 | 7,945 | |
2,019 | 7,224 | |
Thereafter | 8,383 | |
Net Book Value | $ 55,446 | $ 59,550 |
Equity Method Investments and73
Equity Method Investments and Other Investments - Additional information (Detail) - USD ($) | Sep. 11, 2015 | Mar. 20, 2015 | Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 22, 2014 | Mar. 31, 2014 |
Schedule of Equity Method Investments [Line Items] | |||||||
Equity in (losses) earnings of equity method investments | $ 164,000 | $ (1,235,000) | $ (2,442,000) | ||||
Equity method investments | $ 24,308,000 | 28,944,000 | $ 2,500,000 | ||||
Debt Instrument, Term | 5 years | ||||||
Goodwill | $ 121,408,000 | 109,501,000 | 97,924,000 | ||||
Equity Method Investment, Additional Financing | $ 5,000,000 | ||||||
Debt Conversion, Converted Instrument, Rate | 9.00% | ||||||
Gain (Loss) on Disposition of Business | $ 85,000 | 27,444,000 | 0 | ||||
BioCision, LLC | |||||||
Schedule of Equity Method Investments [Line Items] | |||||||
Joint venture interest, percentage | 20.00% | 22.00% | |||||
Equity investment cost | $ 4,000,000 | ||||||
Equity in (losses) earnings of equity method investments | $ 1,000,000 | 300,000 | |||||
Equity method investments | 2,700,000 | 3,700,000 | |||||
Convertible Debt, Fair Value Disclosures | 5,300,000 | ||||||
Warrants Aggregate Fair Value | 100,000 | ||||||
Gain (Loss) on Convertible Debt Securities and Warrants Recognized in Earnings | $ 400,000 | ||||||
ULVAC Cryogenics, Inc. | |||||||
Schedule of Equity Method Investments [Line Items] | |||||||
Joint venture interest, percentage | 50.00% | ||||||
Equity in (losses) earnings of equity method investments | $ (1,400,000) | (1,600,000) | (2,600,000) | ||||
Equity method investments | 21,500,000 | 22,600,000 | |||||
Management fee payments received | 600,000 | 0 | 0 | ||||
Charges for products or services | 400,000 | 400,000 | 500,000 | ||||
Accounts payable for unpaid products and services | 54,000 | 79,000 | |||||
Cash dividend received | $ 600,000 | 900,000 | |||||
Yaskawa Brooks Automation, Inc. | |||||||
Schedule of Equity Method Investments [Line Items] | |||||||
Joint venture interest, percentage | 50.00% | ||||||
Equity in (losses) earnings of equity method investments | $ 600,000 | 100,000 | 200,000 | ||||
Equity method investments | 2,600,000 | ||||||
Charges for products or services | 700,000 | 700,000 | 500,000 | ||||
Accounts payable for unpaid products and services | 100,000 | ||||||
Revenues earned from joint ventures | 2,500,000 | 7,400,000 | $ 6,300,000 | ||||
Due from joint venture | 0 | $ 2,100,000 | |||||
Business acquisition, cash payment | $ 1,800,000 | ||||||
Goodwill | $ 200,000 | ||||||
Dividends | $ 1,800,000 | ||||||
Gain (Loss) on Disposition of Business | 200,000 | ||||||
Equity Method Investment, Other than Temporary Impairment | $ 700,000 | ||||||
Stock Compensation Plan | |||||||
Schedule of Equity Method Investments [Line Items] | |||||||
Vesting period | 4 years | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Terms of Award | P10Y |
Earnings per Share - Reconcilia
Earnings per Share - Reconciliation of Weighted Average Common Shares Outstanding for Purposes of Calculating Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
Earnings Per Share [Abstract] | |||
Income (loss) from continuing operations | $ 14,221 | $ 1,520 | $ (7,114) |
Income from discontinued operations, net of tax | 0 | 30,002 | 4,964 |
Net income (loss) | 14,221 | 31,522 | (2,150) |
Net income attributable to noncontrolling interests | 0 | (161) | (65) |
Net income (loss) attributable to Brooks Automation, Inc. | $ 14,221 | $ 31,361 | $ (2,215) |
Weighted average common shares outstanding used in computing basic earnings per share | 67,411 | 66,648 | 65,912 |
Dilutive common stock options and restricted stock awards | 1,138 | 996 | 0 |
Weighted average common shares outstanding for purposes of computing diluted earnings per share | 68,549 | 67,644 | 65,912 |
Basic net income (loss) per share attributable to Brooks Automation, Inc. common stockholders: | |||
Income (loss) from continuing operations (USD per share) | $ 0.21 | $ 0.02 | $ (0.11) |
Income from discontinued operations, net of tax (USD per share) | 0 | 0.45 | 0.08 |
Basic net income (loss) per share attributable to Brooks Automation, Inc. (USD per share) | 0.21 | 0.47 | (0.03) |
Diluted net income (loss) per share attributable to Brooks Automation, Inc. common stockholders: | |||
Income (loss) from continuing operations (USD per share) | 0.21 | 0.02 | (0.11) |
Income from discontinued operations, net of tax (USD per share) | 0 | 0.44 | 0.08 |
Diluted net income (loss) per share attributable to Brooks Automation, Inc. common stockholders (USD per share) | $ 0.21 | $ 0.46 | $ (0.03) |
Earnings per Share - Additional
Earnings per Share - Additional Information (Detail) - shares | Nov. 04, 2015 | Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Restricted stocks granted | 1,513,281 | 1,517,057 | 1,471,977 | |
Stock options | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Anti-dilutive securities excluded from computation of diluted earnings per share | 11,000 | 43,000 | ||
Restricted stock | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Anti-dilutive securities excluded from computation of diluted earnings per share | 120,000 | 3,006,000 | ||
Restricted stock | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Restricted stocks granted | 1,513,281 | |||
Restricted stock | Subsequent Event | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Restricted stocks granted | 1,204,000 |
Note Receivable - Additional In
Note Receivable - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||
Sep. 30, 2014 | Jun. 30, 2012 | Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
Variable Interest Entity [Line Items] | |||||
Loan provided to borrower | $ 5,500 | $ 0 | $ 0 | ||
Fair value estimate | $ 0 | $ 1,000 | $ 0 | ||
Variable Interest Entity | |||||
Variable Interest Entity [Line Items] | |||||
Loan provided to borrower | $ 3,000 | ||||
Term extension | 5 years | ||||
Loans Receivable, Interest Rate | 9.00% | 10.00% | |||
Variable Interest Entity | Selling, General and Administrative Expenses | |||||
Variable Interest Entity [Line Items] | |||||
Impairment charge | $ 2,600 |
Derivative Instruments - Additi
Derivative Instruments - Additional Information (Details) $ in Millions | 3 Months Ended |
Jun. 30, 2014USD ($) | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Net gains related to foreign currency contracts | $ 0.1 |
Derivative Instruments - Net Ga
Derivative Instruments - Net Gains and Losses Recorded (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||
Realized gains on derivatives not designated as hedging instruments | $ 628 | $ 185 | $ 123 |
Derivative Instruments - Notion
Derivative Instruments - Notional Amounts Outstanding under Foreign Currency Contracts (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Sep. 30, 2014 |
Buy Currency, British Pound; Sell Currency, Euro | ||
Derivative [Line Items] | ||
Fair Value of Assets | $ 0 | |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | ||
Derivative [Line Items] | ||
Fair Value of Assets | 89 | $ 0 |
Fair Value of Liabilities | (36) | 58 |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Buy Currency, U.S. Dollar; Sell Currency, Japanese Yen | ||
Derivative [Line Items] | ||
Fair Value of Assets | 2 | 0 |
Fair Value of Liabilities | $ 0 | 11 |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Buy Currency, U.S. Dollar; Sell Currency, Euro | ||
Derivative [Line Items] | ||
Fair Value of Assets | 0 | |
Fair Value of Liabilities | 16 | |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Buy Currency, U.S. Dollar; Sell Currency, Taiwan Dollar | ||
Derivative [Line Items] | ||
Fair Value of Assets | 0 | |
Fair Value of Liabilities | $ (1) | 5 |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Buy Currency, U.S. Dollar; Sell Currency, British Pound | ||
Derivative [Line Items] | ||
Fair Value of Assets | 32 | 0 |
Fair Value of Liabilities | 0 | 5 |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Buy Currency, U.S. Dollar; Sell Currency, Chinese Yuan | ||
Derivative [Line Items] | ||
Fair Value of Assets | 15 | |
Fair Value of Liabilities | 0 | |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Buy Currency, Euro; Sell Currency, U.S. Dollar | ||
Derivative [Line Items] | ||
Fair Value of Assets | 40 | |
Fair Value of Liabilities | 0 | |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Buy Currency, U.S. Dollar; Sell Currency, Israeli Shekel | ||
Derivative [Line Items] | ||
Fair Value of Assets | 0 | 0 |
Fair Value of Liabilities | 0 | 5 |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Buy Currency, U.S. Dollar; Sell Currency, Korean Won | ||
Derivative [Line Items] | ||
Fair Value of Assets | 0 | 0 |
Fair Value of Liabilities | (6) | 1 |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Buy Currency, British Pound; Sell Currency, Euro | ||
Derivative [Line Items] | ||
Fair Value of Assets | 0 | |
Fair Value of Liabilities | (29) | 15 |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Buy Currency, U.S. Dollar; Sell Currency, Japanese Yen | ||
Derivative [Line Items] | ||
Fair Value of Assets | 0 | |
Fair Value of Liabilities | 0 | |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Long [Member] | Buy Currency, U.S. Dollar; Sell Currency, Japanese Yen | ||
Derivative [Line Items] | ||
Notional Amount | 1,336 | 1,736 |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Long [Member] | Buy Currency, U.S. Dollar; Sell Currency, Euro | ||
Derivative [Line Items] | ||
Notional Amount | 1,395 | |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Long [Member] | Buy Currency, U.S. Dollar; Sell Currency, Taiwan Dollar | ||
Derivative [Line Items] | ||
Notional Amount | 662 | 656 |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Long [Member] | Buy Currency, U.S. Dollar; Sell Currency, British Pound | ||
Derivative [Line Items] | ||
Notional Amount | 4,308 | 650 |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Long [Member] | Buy Currency, U.S. Dollar; Sell Currency, Chinese Yuan | ||
Derivative [Line Items] | ||
Notional Amount | 5,177 | |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Long [Member] | Buy Currency, Euro; Sell Currency, U.S. Dollar | ||
Derivative [Line Items] | ||
Notional Amount | 9,300 | |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Long [Member] | Buy Currency, U.S. Dollar; Sell Currency, Israeli Shekel | ||
Derivative [Line Items] | ||
Notional Amount | 457 | 731 |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Long [Member] | Buy Currency, U.S. Dollar; Sell Currency, Korean Won | ||
Derivative [Line Items] | ||
Notional Amount | 1,543 | 76 |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Long [Member] | Buy Currency, British Pound; Sell Currency, Euro | ||
Derivative [Line Items] | ||
Notional Amount | 2,157 | 3,513 |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Long [Member] | Buy Currency, U.S. Dollar; Sell Currency, Japanese Yen | ||
Derivative [Line Items] | ||
Notional Amount | 425 | |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Short [Member] | Buy Currency, U.S. Dollar; Sell Currency, Japanese Yen | ||
Derivative [Line Items] | ||
Notional Amount | 160,000 | 190,000 |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Short [Member] | Buy Currency, U.S. Dollar; Sell Currency, Euro | ||
Derivative [Line Items] | ||
Notional Amount | 1,100 | |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Short [Member] | Buy Currency, U.S. Dollar; Sell Currency, Taiwan Dollar | ||
Derivative [Line Items] | ||
Notional Amount | 22,000 | 20,000 |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Short [Member] | Buy Currency, U.S. Dollar; Sell Currency, British Pound | ||
Derivative [Line Items] | ||
Notional Amount | 6,520 | 400 |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Short [Member] | Buy Currency, U.S. Dollar; Sell Currency, Chinese Yuan | ||
Derivative [Line Items] | ||
Notional Amount | 33,000 | |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Short [Member] | Buy Currency, Euro; Sell Currency, U.S. Dollar | ||
Derivative [Line Items] | ||
Notional Amount | 8,253 | |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Short [Member] | Buy Currency, U.S. Dollar; Sell Currency, Israeli Shekel | ||
Derivative [Line Items] | ||
Notional Amount | 1,800 | 2,700 |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Short [Member] | Buy Currency, U.S. Dollar; Sell Currency, Korean Won | ||
Derivative [Line Items] | ||
Notional Amount | 1,852,000 | 80,000 |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Short [Member] | Buy Currency, British Pound; Sell Currency, Euro | ||
Derivative [Line Items] | ||
Notional Amount | 1,600 | $ 4,500 |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Short [Member] | Buy Currency, U.S. Dollar; Sell Currency, Japanese Yen | ||
Derivative [Line Items] | ||
Notional Amount | $ 51,000 |
Income Taxes - Components of In
Income Taxes - Components of Income Tax Provision (Benefit) (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
Current income tax provision (benefit): | |||
Federal | $ 10 | $ 15 | $ 15 |
State | 56 | 177 | 70 |
Foreign | 5,537 | 1,417 | 681 |
Total current income tax provision (benefit) | 5,603 | 1,609 | 766 |
Deferred income tax (benefit): | |||
Federal | (1,773) | (2,276) | (5,245) |
State | (104) | (35) | (183) |
Foreign | (296) | (1,278) | (323) |
Total deferred income tax (benefit) | (2,173) | (3,589) | (5,751) |
Income tax provision (benefit) | $ 3,430 | $ (1,980) | $ (4,985) |
Income Taxes - Components of 81
Income Taxes - Components of Income Before Income Taxes and Equity in Earnings of Joint Ventures (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
Income Tax Disclosure [Abstract] | |||
Domestic | $ (1,321) | $ (7,338) | $ (14,747) |
Foreign | 19,136 | 5,643 | 206 |
Income (loss) before income taxes and earnings (losses) of equity method investments | $ 17,815 | $ (1,695) | $ (14,541) |
Income Taxes - Differences Betw
Income Taxes - Differences Between Income Tax Provision (Benefit) and Income Taxes Computed using Applicable U.S. Statutory Federal Tax Rate (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
Income Tax Disclosure [Abstract] | |||
Income tax provision computed at federal statutory rate | $ 6,177 | $ (217) | $ (4,257) |
State income taxes, net of federal benefit | 243 | (12) | (101) |
Foreign income taxed at different rates | (938) | (596) | 493 |
Dividends | (1,069) | (1,373) | 115 |
Change in deferred tax asset valuation allowance | (36) | 453 | 523 |
Reduction in uncertain tax positions | (1,207) | (1,236) | (1,022) |
Nondeductible compensation | 1,325 | 1,064 | 474 |
Tax credits generated | (1,741) | (704) | (2,002) |
Travel and entertainment | 314 | 220 | 124 |
Merger costs | 228 | 187 | 251 |
Other | 134 | 234 | 417 |
Income tax provision (benefit) | $ 3,430 | $ (1,980) | $ (4,985) |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
Income Taxes [Line Items] | |||
Undistributed earnings of foreign subsidiaries | $ 40,300 | $ 25,200 | $ 17,500 |
Deferred tax asset | 83,638 | 83,197 | |
Federal and state research and development tax credit carryforwards | $ 23,800 | ||
Federal and state research and development tax credit carryforwards, expiration year | 2,035 | ||
Net operating losses, expiration year | Sep. 30, 2030 | ||
Interest related to unrecognized benefits | $ 200 | 300 | 200 |
Reductions from lapses in statutes of limitations | (1,207) | $ (1,236) | $ (1,022) |
Minimum | |||
Income Taxes [Line Items] | |||
Anticipated unrecognized tax benefit reduction during next twelve months | 1,300 | ||
Federal | |||
Income Taxes [Line Items] | |||
Net operating loss carryforwards | 133,600 | ||
State | |||
Income Taxes [Line Items] | |||
Net operating loss carryforwards | 101,100 | ||
Foreign | |||
Income Taxes [Line Items] | |||
Net operating loss carryforwards | 23,600 | ||
Stock Compensation Plan | |||
Income Taxes [Line Items] | |||
Net operating loss carryforwards | $ 13,000 |
Income Taxes - Significant Comp
Income Taxes - Significant Components of Net Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Sep. 30, 2014 |
Income Tax Disclosure [Abstract] | ||
Accruals and reserves not currently deductible | $ 9,602 | $ 12,456 |
Federal, state and foreign tax credits | 22,115 | 20,434 |
Other assets | 5,939 | 3,523 |
Net operating loss carryforwards | 63,569 | 67,380 |
Inventory reserves and valuation | 10,598 | 9,956 |
Deferred tax assets | 111,823 | 113,749 |
Depreciation and intangible amortization | 9,388 | 12,198 |
Deferred tax liabilities | 9,388 | 12,198 |
Valuation allowance | (18,797) | (18,354) |
Net deferred tax asset (liability) | $ 83,638 | $ 83,197 |
Income Taxes - Reconciliation o
Income Taxes - Reconciliation of Beginning and Ending Amount of Consolidated Liability for Unrecognized Income Tax Benefits (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Beginning Balance | $ 5,967 | $ 6,941 | $ 7,605 |
Additions for tax positions of prior years | 221 | 286 | 228 |
Additions for tax positions related to acquired entities | 116 | ||
Reductions from settlements with taxing authorities | (1,304) | ||
Reductions from lapses in statutes of limitations | (1,207) | (1,236) | (1,022) |
Foreign exchange rate adjustment | (33) | (24) | 14 |
Ending Balance | 3,644 | 5,967 | 6,941 |
Unrecognized Tax Benefits | |||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Beginning Balance | 4,262 | 5,147 | 5,961 |
Additions for tax positions of prior years | 0 | 0 | 0 |
Additions for tax positions related to acquired entities | 116 | ||
Reductions from settlements with taxing authorities | (1,304) | ||
Reductions from lapses in statutes of limitations | (734) | (861) | (944) |
Foreign exchange rate adjustment | (33) | (24) | 14 |
Ending Balance | 2,191 | 4,262 | 5,147 |
Interest and Penalties | |||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Beginning Balance | 1,705 | 1,794 | 1,644 |
Additions for tax positions of prior years | 221 | 286 | 228 |
Additions for tax positions related to acquired entities | 0 | ||
Reductions from settlements with taxing authorities | 0 | ||
Reductions from lapses in statutes of limitations | (473) | (375) | (78) |
Foreign exchange rate adjustment | 0 | 0 | 0 |
Ending Balance | $ 1,453 | $ 1,705 | $ 1,794 |
Postretirement Benefits - Addit
Postretirement Benefits - Additional Information (Detail) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2015USD ($)Plan | Sep. 30, 2014USD ($) | Sep. 30, 2013USD ($) | |
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Pension Plan, Number of Plans | Plan | 2 | ||
Defined Benefit Plan, Accumulated Other Comprehensive Income Settlement Gain (Loss), After Tax | $ 232 | $ 0 | |
Settlements paid | 1,795 | ||
Accumulated benefit obligation | 6,900 | 7,300 | |
Fair value of plan assets | 4,838 | 6,131 | $ 5,996 |
Expected contribution to the Plan to meet minimum funding targets | 300 | ||
Employer contributions | 306 | 302 | |
Nexus Plan | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 4,300 | ||
Taiwan Plan Assets | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 500 | ||
Market Related Valuation of Assets | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Unrecognized net actuarial gains (losses) | $ 800 | 800 | |
Investment gains or losses recognition period | 5 years | ||
Other actuarial losses | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Unrecognized net actuarial gains (losses) | $ (200) | (300) | |
Worldwide Defined Contribution Plans | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 4.50% | ||
Employer contributions | $ 3,000 | $ 3,500 | $ 3,200 |
Postretirement Benefits - Funde
Postretirement Benefits - Funded Status and Amounts Recognized in Consolidated Balance Sheet (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Benefit obligation at beginning of year | $ 8,213 | $ 7,107 | |
Service cost | 482 | 406 | $ 604 |
Interest cost | 124 | 154 | 148 |
Actuarial loss (gain) | 733 | 968 | |
Benefits paid | (209) | (141) | |
Employee contributions | 444 | 0 | |
Settlements paid | (1,795) | ||
Foreign currency translation | (331) | (281) | |
Benefit obligation at end of year | 7,661 | 8,213 | 7,107 |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair value of assets at beginning of year | 6,131 | 5,996 | |
Actual return on plan assets | 112 | 98 | |
Disbursements | (334) | (264) | |
Employer contributions | 306 | 302 | |
Employee contributions | 642 | 200 | |
Settlements paid | (1,795) | ||
Foreign currency translation | (224) | (201) | |
Fair value of assets at end of year | 4,838 | 6,131 | $ 5,996 |
Accrued benefit liability | $ 2,823 | $ 2,082 |
Postretirement Benefits - Pensi
Postretirement Benefits - Pension Amounts Recorded Within Account Line Items of Balance Sheet (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Sep. 30, 2014 |
Compensation and Retirement Disclosure [Abstract] | ||
Accrued compensation and benefits | $ 298 | $ 308 |
Long-term pension liability | 2,525 | 1,774 |
Pension and Other Postretirement Defined Benefit Plans, Liabilities | $ 2,823 | $ 2,082 |
Postretirement Benefits - Net P
Postretirement Benefits - Net Periodic Pension Cost (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
Compensation and Retirement Disclosure [Abstract] | |||
Service cost | $ 482 | $ 406 | $ 604 |
Interest cost | 124 | 154 | 148 |
Expected return on assets | (210) | (214) | (247) |
Amortization of losses | 2 | 2 | 4 |
Other | 0 | 0 | 160 |
Net periodic pension cost | 398 | 348 | 669 |
Settlement loss | 232 | 0 | 87 |
Total pension cost | $ 630 | $ 348 | $ 756 |
Postretirement Benefits - Other
Postretirement Benefits - Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Loss (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Compensation and Retirement Disclosure [Abstract] | ||
Net loss | $ 722 | $ 961 |
Amortization of net loss | (2) | (2) |
Settlement loss | (232) | 0 |
Total recognized in other comprehensive income (loss) | 488 | 959 |
Total recognized in net periodic pension cost and other comprehensive income (loss) | $ 886 | $ 1,307 |
Postretirement Benefits - Weigh
Postretirement Benefits - Weighted-Average Assumption Used to Determine Net Cost (Detail) | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
Compensation and Retirement Disclosure [Abstract] | |||
Discount rate | 0.92% | 1.55% | 2.15% |
Expected return on plan assets | 1.78% | 2.18% | 2.17% |
Rate of compensation increase | 1.65% | 1.87% | 1.89% |
Postretirement Benefits - Asset
Postretirement Benefits - Asset Allocation of Plan Assets of Non-U.S. Plans (Detail) - Non-U.S. Plans | Sep. 30, 2015 |
Defined Benefit Plan Disclosure [Line Items] | |
Percentage of Plan Assets | 100.00% |
Equity securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Percentage of Plan Assets | 7.00% |
Cash | |
Defined Benefit Plan Disclosure [Line Items] | |
Percentage of Plan Assets | 72.00% |
Debt Securities [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Percentage of Plan Assets | 8.00% |
Other Investments | |
Defined Benefit Plan Disclosure [Line Items] | |
Percentage of Plan Assets | 13.00% |
Postretirement Benefits - Fair
Postretirement Benefits - Fair Value of Pension Assets by Asset Category and by Level (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 |
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | $ 4,838 | $ 6,131 | $ 5,996 |
Other Investments | Swiss Life collective foundation | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 4,347 | 5,608 | |
Other Investments | Taiwan collective trust | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 491 | 523 | |
Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Level 1 | Other Investments | Swiss Life collective foundation | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Level 1 | Other Investments | Taiwan collective trust | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 4,838 | 6,131 | |
Level 2 | Other Investments | Swiss Life collective foundation | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 4,347 | 5,608 | |
Level 2 | Other Investments | Taiwan collective trust | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 491 | 523 | |
Fair Value, Inputs, Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Fair Value, Inputs, Level 3 [Member] | Other Investments | Swiss Life collective foundation | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Fair Value, Inputs, Level 3 [Member] | Other Investments | Taiwan collective trust | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | $ 0 | $ 0 |
Postretirement Benefits - Expec
Postretirement Benefits - Expected Benefit Payment Over Next Ten Years are Anticipated to be Paid (Detail) $ in Thousands | Sep. 30, 2015USD ($) |
Compensation and Retirement Disclosure [Abstract] | |
2,016 | $ 218 |
2,017 | 52 |
2,018 | 53 |
2,019 | 54 |
2,020 | 112 |
Thereafter (through 2025) | $ 748 |
Stockholders' Equity - Addition
Stockholders' Equity - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions | 1 Months Ended | |
Sep. 30, 2014 | Sep. 30, 2015 | |
Equity [Abstract] | ||
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Preferred stock, par value (USD per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Brooks Automation Asia | ||
Investment [Line Items] | ||
Payments to acquire ownership | $ 3.2 | |
Consolidating interest | 100.00% |
Stockholders' Equity - Accumula
Stockholders' Equity - Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward] | |||
Accumulated other comprehensive income (loss), net of tax, beginning of period | $ 15,687 | $ 22,604 | $ 23,642 |
Other comprehensive (loss) income before reclassifications | (9,887) | (6,798) | (1,104) |
Amounts reclassified from accumulated other comprehensive income | 98 | (119) | 66 |
Accumulated other comprehensive income (loss), net of tax, end of period | 5,898 | 15,687 | 22,604 |
Currency Translation Adjustments | |||
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward] | |||
Accumulated other comprehensive income (loss), net of tax, beginning of period | 16,102 | 22,398 | 24,511 |
Other comprehensive (loss) income before reclassifications | (9,426) | (6,296) | (2,113) |
Amounts reclassified from accumulated other comprehensive income | (131) | 0 | 0 |
Accumulated other comprehensive income (loss), net of tax, end of period | 6,545 | 16,102 | 22,398 |
Unrealized Gains (Losses) on Available-for-Sale Securities | |||
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward] | |||
Accumulated other comprehensive income (loss), net of tax, beginning of period | (38) | 66 | 201 |
Other comprehensive (loss) income before reclassifications | 144 | (78) | (114) |
Amounts reclassified from accumulated other comprehensive income | (3) | (26) | (21) |
Accumulated other comprehensive income (loss), net of tax, end of period | 103 | (38) | 66 |
Unrealized Gains (Losses) on Cash Flow Hedges | |||
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward] | |||
Accumulated other comprehensive income (loss), net of tax, beginning of period | 0 | 14 | 0 |
Other comprehensive (loss) income before reclassifications | 0 | 79 | 14 |
Amounts reclassified from accumulated other comprehensive income | 0 | (93) | 0 |
Accumulated other comprehensive income (loss), net of tax, end of period | 0 | 0 | 14 |
Pension Liability Adjustments | |||
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward] | |||
Accumulated other comprehensive income (loss), net of tax, beginning of period | (377) | 126 | (1,070) |
Other comprehensive (loss) income before reclassifications | (605) | (503) | 1,109 |
Amounts reclassified from accumulated other comprehensive income | 232 | 0 | 87 |
Accumulated other comprehensive income (loss), net of tax, end of period | $ (750) | $ (377) | $ 126 |
Equity Incentive Plans - Additi
Equity Incentive Plans - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands | Feb. 08, 2012 | Oct. 26, 2005 | Feb. 29, 1996 | Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | Feb. 12, 1996 |
Equity Incentive Plan [Line Items] | |||||||
Awards granted | 1,513,281 | 1,517,057 | 1,471,977 | ||||
Options outstanding | 0 | 5,550 | |||||
Closing stock price | $ 10.51 | ||||||
Total intrinsic value of options exercised | $ 0 | ||||||
Cash received from employee stock option exercises | $ 0 | ||||||
Restricted stock | |||||||
Equity Incentive Plan [Line Items] | |||||||
Awards granted | 1,513,281 | ||||||
Awards granted (USD per share) | $ 11.89 | $ 9.49 | $ 9.33 | ||||
Fair value of restricted stock awards vested | $ 8,400 | $ 5,600 | $ 7,300 | ||||
Unrecognized compensation cost | $ 11,200 | ||||||
Unrecognized compensation cost, estimated weighted average amortization period | 1 year 8 months 15 days | ||||||
Performance Based | |||||||
Equity Incentive Plan [Line Items] | |||||||
Awards granted | 69,281 | 82,095 | 77,977 | ||||
Maximum award over targeted number of awards | 100.00% | ||||||
Shares that could vest under terms of award | 460,615 | ||||||
Number of shares over the target grant | 338,700 | 1,297,546 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Potentially Vested Shares, Percentage | 40.00% | 154.70% | 68.00% | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Measurement Period | 3 years | ||||||
Performance Based | Maximum | |||||||
Equity Incentive Plan [Line Items] | |||||||
Maximum award over targeted number of awards | 200.00% | ||||||
Time Based | |||||||
Equity Incentive Plan [Line Items] | |||||||
Awards granted | 597,250 | 596,212 | 716,625 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Period Increase (Decrease) | 216,760 | ||||||
Performance Shares [Member] | |||||||
Equity Incentive Plan [Line Items] | |||||||
Awards granted | 838,750 | 677,375 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Period Increase (Decrease) | 458,796 | ||||||
Employee Stock Purchase Plan, 1995 Plan | |||||||
Equity Incentive Plan [Line Items] | |||||||
Employee stock purchase plan, offering period | 6 months | ||||||
Shares of common stock available for purchase | 448,655 | ||||||
Employee stock purchase plan, price per share percentage | 85.00% | ||||||
Additional shares of common stock available for purchase | 1,000,000 | ||||||
Maximum percentage of base pay withheld and applied toward the purchase of shares | 10.00% | ||||||
Stock purchase under employee stock purchase plan | 3,551,345 | ||||||
Employee Stock Purchase Plan, 1995 Plan | Before Amendment | |||||||
Equity Incentive Plan [Line Items] | |||||||
Shares of common stock available for purchase | 3,000,000 | ||||||
Employee Stock Purchase Plan, 1995 Plan | After Amendment | Maximum | |||||||
Equity Incentive Plan [Line Items] | |||||||
Shares of common stock available for purchase | 4,000,000 | ||||||
Equity Incentive Plan 2000 | |||||||
Equity Incentive Plan [Line Items] | |||||||
Shares of common stock reserved for issuance | 9,000,000 | ||||||
Options outstanding | 0 | ||||||
Shares available for grant | 4,928,870 | ||||||
Equity Incentive Plan 2000 | Restricted stock | |||||||
Equity Incentive Plan [Line Items] | |||||||
Vesting period | 3 years | ||||||
Equity incentive plan vesting in year one, percentage | 33.33% | ||||||
Equity incentive plan vesting in year two, percentage | 33.33% | ||||||
Equity incentive plan vesting in year three, percentage | 33.34% | ||||||
Equity Incentive Plan 2000 | Restricted stock | Share Vesting Over Three Year Period | |||||||
Equity Incentive Plan [Line Items] | |||||||
Equity incentive plan vesting in year one, percentage | |||||||
Equity incentive plan vesting in year two, percentage | 50.00% | ||||||
Equity incentive plan vesting in year three, percentage | 50.00% | ||||||
Equity Incentive Plan Two Thousand Fifteen | |||||||
Equity Incentive Plan [Line Items] | |||||||
Shares of common stock reserved for issuance | 5,000,000 | ||||||
Equity Incentive Plan Two Thousand Fifteen | Performance Based | |||||||
Equity Incentive Plan [Line Items] | |||||||
Awards granted | 846,750 | ||||||
Maximum award over targeted number of awards | 100.00% | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Potentially Vested Shares, Percentage | 60.00% | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Period Increase (Decrease) | 508,050 | ||||||
Equity Incentive Plan Two Thousand Fifteen | Performance Based | Maximum | |||||||
Equity Incentive Plan [Line Items] | |||||||
Maximum award over targeted number of awards | 200.00% | ||||||
Equity Incentive Plan Two Thousand Fifteen | Performance Based | Minimum | |||||||
Equity Incentive Plan [Line Items] | |||||||
Maximum award over targeted number of awards | 0.00% | ||||||
Helix Stock Options | |||||||
Equity Incentive Plan [Line Items] | |||||||
Options outstanding | 689,622 | 5,550 | |||||
Options to purchase Helix common stock | 765,480 | ||||||
Granville-Phillips [Member] | Time Based | |||||||
Equity Incentive Plan [Line Items] | |||||||
Awards granted | 8,500 | 8,500,000 | 8,500,000 |
Equity Incentive Plans - Stock
Equity Incentive Plans - Stock Option Activity (Detail) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Number of Stock Options | ||
Options outstanding at beginning of period (shares) | 5,550 | |
Forfeited/expired | (5,550) | |
Options outstanding at end of period (shares) | 0 | 5,550 |
Vested at end of year | 0 | |
Options exercisable at end of period (shares) | 0 | |
Weighted-Average Remaining Contractual Term | ||
Options outstanding at end of period | 0 months | 3 months |
Vested at end of period | 0 months | |
Options exercisable at end of period | 0 months | |
Weighted Average Exercise Price | ||
Options outstanding at beginning of period (USD per share) | $ 13.20 | |
Forfeited/expired (USD per share) | $ 13.20 | |
Options outstanding at end of year (USD per share) | $ 13.20 | |
Vested at end of period (USD per share) | ||
Options exercisable at end of period (USD per share) | ||
Aggregate Intrinsic Value | ||
Options outstanding at end of period | $ 0 | |
Vested at end of period | 0 | |
Options exercisable at end of period | $ 0 |
Equity Incentive Plans - Restri
Equity Incentive Plans - Restricted Stock Activity (Detail) - $ / shares | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
Shares | |||
Awards granted | 1,513,281 | 1,517,057 | 1,471,977 |
Restricted stock | |||
Shares | |||
Outstanding at beginning of year | 2,726,485 | ||
Awards granted | 1,513,281 | ||
Awards vested (shares) | (709,619) | ||
Awards canceled | (272,734) | ||
Outstanding at end of year | 3,257,413 | 2,726,485 | |
Weighted Average Grant-Date Fair Value | |||
Outstanding at beginning of period (USD per share) | $ 11.05 | ||
Awards granted (USD per share) | 11.89 | $ 9.49 | $ 9.33 |
Awards vested (USD per share) | 9.40 | ||
Awards canceled (USD per share) | 10.40 | ||
Outstanding at end of period (USD per share) | $ 9.95 | $ 11.05 | |
Time Based | |||
Shares | |||
Awards granted | 597,250 | 596,212 | 716,625 |
Performance Based | |||
Shares | |||
Awards granted | 69,281 | 82,095 | 77,977 |
Performance Shares [Member] | |||
Shares | |||
Awards granted | 838,750 | 677,375 |
Restructuring and Other Char100
Restructuring and Other Charges - Additional Information (Detail) $ in Thousands | 12 Months Ended | |||
Sep. 30, 2015USD ($)employee | Sep. 30, 2014USD ($)employee | Sep. 30, 2013USD ($)employee | Sep. 30, 2012USD ($) | |
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring charges | $ 4,417 | $ 6,289 | $ 6,293 | |
Restructuring and other charges | 4,713 | 6,289 | 6,380 | |
Restructuring reserve to be paid | 2,073 | 3,475 | 1,412 | $ 2,098 |
Workforce-related | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring charges | 3,213 | 5,706 | 5,475 | |
Restructuring reserve to be paid | 1,640 | 3,404 | 1,257 | 2,098 |
Facilities and other | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring charges | 1,204 | 583 | 818 | |
Restructuring reserve to be paid | 433 | 71 | 155 | $ 0 |
Fiscal Year 2015 Activities [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring charges | 4,700 | |||
Fiscal Year 2015 Activities [Member] | Workforce-related | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring charges | $ 3,400 | |||
Number of employees impacted by workforce reductions | employee | 93 | |||
Fiscal Year 2015 Activities [Member] | Facilities and other | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring charges | $ 1,300 | |||
Fiscal Year 2014 Activities [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring charges | 6,300 | |||
Fiscal Year 2014 Activities [Member] | Workforce-related | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring charges | $ 5,700 | |||
Number of employees impacted by workforce reductions | employee | 70 | |||
Fiscal Year 2014 Activities [Member] | Workforce-related | Polycold Manufacturing Operation | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring charges | $ 1,200 | |||
Fiscal Year 2014 Activities [Member] | Workforce-related | Brooks Product Solutions | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring charges | 2,400 | |||
Fiscal Year 2014 Activities [Member] | Workforce-related | Brooks Global Services | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring charges | 400 | |||
Fiscal Year 2014 Activities [Member] | Workforce-related | Brooks Life Science Systems | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring charges | 1,600 | |||
Fiscal Year 2014 Activities [Member] | Workforce-related | Corporate Support functions | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring charges | 1,300 | |||
Fiscal Year 2014 Activities [Member] | Facilities and other | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring charges | 600 | |||
Losses on write-downs on inventories | $ 300 | |||
Fiscal Year 2013 Activities [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring charges | 6,400 | |||
Fiscal Year 2013 Activities [Member] | Workforce-related | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring charges | $ 5,500 | |||
Number of employees impacted by workforce reductions | employee | 200 | |||
Fiscal Year 2013 Activities [Member] | Workforce-related | Brooks Product Solutions | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring charges | $ 2,500 | |||
Fiscal Year 2013 Activities [Member] | Workforce-related | Brooks Global Services | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring charges | 1,100 | |||
Fiscal Year 2013 Activities [Member] | Workforce-related | Brooks Life Science Systems | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring charges | 400 | |||
Partial settlement of defined pension plan | 100 | |||
Fiscal Year 2013 Activities [Member] | Workforce-related | Corporate Support functions | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring charges | 1,500 | |||
Fiscal Year 2013 Activities [Member] | Facilities and other | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring charges | $ 800 |
Restructuring and Other Char101
Restructuring and Other Charges - Activity Related to Restructuring Accruals (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
Restructuring Reserve [Roll Forward] | |||
Beginning Balance | $ 3,475 | $ 1,412 | $ 2,098 |
Expense | 4,417 | 6,289 | 6,293 |
Utilization | (5,819) | (4,226) | (6,979) |
Ending Balance | 2,073 | 3,475 | 1,412 |
Facilities and other | |||
Restructuring Reserve [Roll Forward] | |||
Beginning Balance | 71 | 155 | 0 |
Expense | 1,204 | 583 | 818 |
Utilization | (842) | (667) | (663) |
Ending Balance | 433 | 71 | 155 |
Workforce-related | |||
Restructuring Reserve [Roll Forward] | |||
Beginning Balance | 3,404 | 1,257 | 2,098 |
Expense | 3,213 | 5,706 | 5,475 |
Utilization | (4,977) | (3,559) | (6,316) |
Ending Balance | $ 1,640 | $ 3,404 | $ 1,257 |
Segment and Geographic Infor102
Segment and Geographic Information - Additional Information (Detail) | 12 Months Ended |
Sep. 30, 2015Segment | |
Segment Reporting [Abstract] | |
Number of reportable segments | 3 |
Segment and Geographic Infor103
Segment and Geographic Information - Financial Information for Business Segments (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
Revenue | |||
Product | $ 457,411 | $ 387,032 | $ 335,011 |
Services | 95,297 | 95,816 | 87,429 |
Total revenue | 552,708 | 482,848 | 422,440 |
Gross profit | 189,105 | 167,337 | 132,307 |
Segment operating income (loss) | 16,890 | (2,699) | (16,798) |
Depreciation expense | 12,300 | 12,700 | 13,700 |
Total assets | 759,654 | 778,038 | |
Brooks Product Solutions | |||
Revenue | |||
Product | 389,425 | 325,639 | 290,523 |
Services | 703 | 0 | 0 |
Total revenue | 390,128 | 325,639 | 290,523 |
Gross profit | 138,446 | 111,746 | 91,255 |
Segment operating income (loss) | 35,780 | 10,836 | 1,116 |
Depreciation expense | 3,832 | 8,316 | 8,698 |
Total assets | 260,011 | 252,944 | 226,759 |
Brooks Global Services | |||
Revenue | |||
Product | 17,154 | 14,978 | 13,152 |
Services | 77,355 | 79,083 | 75,477 |
Total revenue | 94,509 | 94,061 | 88,629 |
Gross profit | 32,933 | 32,168 | 26,912 |
Segment operating income (loss) | 13,915 | 12,451 | 9,592 |
Depreciation expense | 480 | 2,361 | 2,746 |
Total assets | 57,058 | 58,678 | 59,762 |
Brooks Life Science Systems | |||
Revenue | |||
Product | 50,832 | 46,415 | 31,336 |
Services | 17,239 | 16,733 | 11,952 |
Total revenue | 68,071 | 63,148 | 43,288 |
Gross profit | 17,726 | 23,423 | 14,140 |
Segment operating income (loss) | (19,580) | (8,431) | (12,380) |
Depreciation expense | 1,295 | 2,022 | 2,256 |
Total assets | 110,910 | 103,498 | 105,221 |
Operating Segments, Total | |||
Revenue | |||
Product | 457,411 | 387,032 | 335,011 |
Services | 95,297 | 95,816 | 87,429 |
Total revenue | 552,708 | 482,848 | 422,440 |
Gross profit | 189,105 | 167,337 | 132,307 |
Segment operating income (loss) | 30,115 | 14,856 | (1,672) |
Depreciation expense | 5,607 | 12,699 | 13,700 |
Total assets | $ 427,979 | $ 415,120 | $ 391,742 |
Segment and Geographic Infor104
Segment and Geographic Information - Reconciliation of Reportable Segment Operating Income and Segment Assets to Corresponding Consolidated Amounts (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
Income Reconciliation | |||
Segment operating income (loss) | $ 16,890 | $ (2,699) | $ (16,798) |
Other unallocated corporate expenses | 856 | 5,096 | 3,002 |
Amortization of acquired intangible assets | 7,656 | 6,170 | 5,694 |
Impairment of acquired intangible assets | 0 | 0 | 50 |
Restructuring and other charges | 4,713 | 6,289 | 6,380 |
Operating income (loss) | 16,890 | (2,699) | (16,798) |
Asset Reconciliation | |||
Segment Assets | 759,654 | 778,038 | |
Cash, cash equivalents, restricted cash and marketable securities | 214,030 | 245,456 | |
Deferred tax assets | 89,959 | 86,572 | |
Assets held for sale | 2,900 | 0 | |
Equity method investments | 24,286 | 28,944 | |
Other unallocated corporate net assets | 500 | 1,946 | |
Total assets | 759,654 | 778,038 | |
Operating Segments, Total | |||
Income Reconciliation | |||
Segment operating income (loss) | 30,115 | 14,856 | (1,672) |
Operating income (loss) | 30,115 | 14,856 | (1,672) |
Asset Reconciliation | |||
Segment Assets | 427,979 | 415,120 | 391,742 |
Total assets | $ 427,979 | $ 415,120 | $ 391,742 |
Segment and Geographic Infor105
Segment and Geographic Information - Net Revenues based upon Source of Order by Geographic Area (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Net Revenues | $ 552,708 | $ 482,848 | $ 422,440 |
North America | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Net Revenues | 199,103 | 174,343 | 177,779 |
Asia/Pacific | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Net Revenues | 121,765 | 198,695 | 154,358 |
Europe | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Net Revenues | $ 231,840 | $ 109,810 | $ 90,303 |
Segment and Geographic Infor106
Segment and Geographic Information - Long-Lived Assets, Consisting of Property, Plant and Equipment by Geographic Area (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Sep. 30, 2014 |
Long-Lived Assets by Geographical Areas [Line Items] | ||
Property, plant and equipment, net | $ 41,855 | $ 50,183 |
North America | ||
Long-Lived Assets by Geographical Areas [Line Items] | ||
Property, plant and equipment, net | 36,402 | 40,232 |
Asia/Pacific | ||
Long-Lived Assets by Geographical Areas [Line Items] | ||
Property, plant and equipment, net | 2,104 | 870 |
Europe | ||
Long-Lived Assets by Geographical Areas [Line Items] | ||
Property, plant and equipment, net | $ 3,349 | $ 9,081 |
Significant Customers - Additio
Significant Customers - Additional Information (Detail) | 12 Months Ended |
Sep. 30, 2015customer | |
Risks and Uncertainties [Abstract] | |
Number of major customer by revenue | 1 |
Percentage of revenues by customer | 12.00% |
Supplementary Balance Sheet 108
Supplementary Balance Sheet Information - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | |
Valuation and Qualifying Accounts Disclosure [Line Items] | ||||
Inventory Valuation Reserves | $ 23.8 | $ 26 | $ 24.2 | $ 23.2 |
Inventory Valuation Reserve | ||||
Valuation and Qualifying Accounts Disclosure [Line Items] | ||||
Charges/credits to reserves for excess and obsolete inventory | 7.9 | 6.9 | 5.4 | |
Reduction in reserves for excess and obsolete inventory | $ 10.3 | $ 5.1 | $ 4.3 |
Supplementary Balance Sheet 109
Supplementary Balance Sheet Information - Summary of Accounts Receivable (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Sep. 30, 2014 |
Accounts Receivable, Net [Abstract] | ||
Accounts receivable | $ 87,582 | $ 81,270 |
Accounts receivable, net | 86,448 | 80,106 |
Allowance for doubtful accounts | ||
Accounts Receivable, Net [Abstract] | ||
Less allowances | (1,019) | (1,031) |
Allowance for sales returns | ||
Accounts Receivable, Net [Abstract] | ||
Less allowances | $ (115) | $ (133) |
Supplementary Balance Sheet 110
Supplementary Balance Sheet Information - Allowance for Doubtful Accounts Activity (Detail) - Allowance for doubtful accounts - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Balance at Beginning of Period | $ 1,031 | $ 863 | $ 851 |
Provisions | 0 | 438 | 48 |
Reversals of Bad Debt Expense | 0 | (315) | (143) |
Write-offs and Adjustments | 12 | 45 | 107 |
Balance at End of Period | $ 1,019 | $ 1,031 | $ 863 |
Supplementary Balance Sheet 111
Supplementary Balance Sheet Information - Allowance for Sales Returns (Details) - Allowance for sales returns - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Balance at Beginning of Period | $ 133 | $ 114 | $ 0 |
Provisions | (18) | 19 | 72 |
Write-offs and Adjustments | 0 | 0 | 42 |
Balance at End of Period | $ 115 | $ 133 | $ 114 |
Supplementary Balance Sheet 112
Supplementary Balance Sheet Information - Summary of Inventories (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Sep. 30, 2014 |
Inventories | ||
Raw materials and purchased parts | $ 62,441 | $ 57,250 |
Work-in-process | 21,563 | 20,068 |
Finished goods | 16,615 | 16,249 |
Inventory, net | $ 100,619 | $ 93,567 |
Supplementary Balance Sheet 113
Supplementary Balance Sheet Information - Product Warranty and Retrofit Activity on Gross Basis (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||
Balance at beginning of year | $ 6,499 | $ 7,260 | $ 7,246 |
Adjustments for acquisitions and divestitures | 81 | 364 | 1,187 |
Accruals for warranties during the year | 9,917 | 9,969 | 9,968 |
Costs incurred | (10,408) | (11,094) | (11,141) |
Balance at end of year | $ 6,089 | $ 6,499 | $ 7,260 |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 |
Guarantor Obligations [Line Items] | ||||
Property, Plant and Equipment, Transfers and Changes | $ 600 | |||
Accumulated amortization | 200 | $ 200 | $ 100 | |
Rental expense under operating leases | 6,500 | 8,200 | $ 8,400 | |
Outstanding letters of credit | 3,500 | 3,500 | ||
Non-cancelable contracts and purchase orders for inventory | 77,200 | 77,200 | ||
Property, Plant and Equipment, Additions | 8,400 | |||
Capital Lease Obligations Incurred | (7,804) | $ 0 | $ 0 | |
Mexico | ||||
Guarantor Obligations [Line Items] | ||||
Remaining payments under lease guarantee | 1,000 | 1,000 | ||
Building [Member] | ||||
Guarantor Obligations [Line Items] | ||||
Capital leases included in balance sheet | 6,400 | 6,400 | ||
Property, Plant and Equipment, Additions | 6,600 | |||
Land [Member] | ||||
Guarantor Obligations [Line Items] | ||||
Capital leases included in balance sheet | 2,100 | $ 2,100 | ||
Property, Plant and Equipment, Additions | $ 2,300 |
Commitments and Contingencie115
Commitments and Contingencies - Future Minimum Capital Lease Commitments (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Sep. 30, 2014 |
Commitments and Contingencies Disclosure [Abstract] | ||
Less current portion of capital lease obligation | $ 0 | $ (881) |
Long-term capital lease obligation | $ 0 | $ 7,417 |
Commitments and Contingencie116
Commitments and Contingencies - Future Minimum Lease Commitments on Non-Cancelable Operating Leases, Lease Income and Sublease Income (Detail) $ in Thousands | Sep. 30, 2015USD ($) |
Operating Lease | |
2,016 | $ 3,097 |
2,017 | 2,012 |
2,018 | 1,309 |
2,019 | 638 |
2,020 | 86 |
Thereafter | 0 |
Future minimum lease commitments, total | $ 7,142 |
Subsequent Events - Additional
Subsequent Events - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions | Nov. 04, 2015 | Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 |
Subsequent Event [Line Items] | ||||
Dividend declared per share (USD per share) | $ 0.40 | $ 0.34 | $ 0.32 | |
Subsequent Event | ||||
Subsequent Event [Line Items] | ||||
Dividend declared per share (USD per share) | $ 0.1 | |||
BioStorage Technologies, Inc. [Member] | Subsequent Event | ||||
Subsequent Event [Line Items] | ||||
Business Combination, Consideration Transferred | $ 127 |