Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Sep. 30, 2014 | Nov. 05, 2014 | Mar. 31, 2014 | |
Document and Entity Information [Abstract] | ' | ' | ' |
Trading Symbol | 'BRKS | ' | ' |
Entity Registrant Name | 'BROOKS AUTOMATION INC | ' | ' |
Entity Central Index Key | '0000933974 | ' | ' |
Current Fiscal Year End Date | '--09-30 | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Document Type | '10-K | ' | ' |
Document Period End Date | 30-Sep-14 | ' | ' |
Document Fiscal Year Focus | '2014 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Amendment Flag | 'false | ' | ' |
Entity Well-known Seasoned Issuer | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 66,927,388 | ' |
Entity Public Float | ' | ' | $706,764,000 |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||
Current assets | ' | ' |
Cash and cash equivalents | $94,114 | $82,971 |
Restricted cash | 0 | 177 |
Marketable securities | 68,130 | 45,900 |
Accounts receivable, net | 80,106 | 77,483 |
Inventories | 93,567 | 94,411 |
Deferred tax assets | 19,009 | 16,839 |
Assets held for sale | 0 | 27,778 |
Prepaid expenses and other current assets | 19,387 | 9,030 |
Total current assets | 374,313 | 354,589 |
Property, plant and equipment, net | 50,183 | 47,506 |
Long-term marketable securities | 83,212 | 44,491 |
Long-term deferred tax assets | 67,563 | 99,146 |
Goodwill | 109,501 | 97,924 |
Intangible assets, net | 59,550 | 60,088 |
Equity method investments | 28,944 | 25,687 |
Other assets | 4,772 | 7,332 |
Total assets | 778,038 | 736,763 |
Current liabilities | ' | ' |
Accounts payable | 33,740 | 35,392 |
Capital lease obligation | 881 | 0 |
Deferred revenue | 26,279 | 19,610 |
Accrued warranty and retrofit costs | 6,499 | 7,260 |
Accrued compensation and benefits | 21,663 | 14,225 |
Accrued restructuring costs | 3,475 | 1,412 |
Accrued income taxes payable | 1,808 | 1,058 |
Deferred tax liabilities | 808 | 19 |
Liabilities held for sale | 0 | 132 |
Accrued expenses and other current liabilities | 18,688 | 13,453 |
Total current liabilities | 113,841 | 92,561 |
Long-term capital lease obligation | 7,417 | 0 |
Long-term tax reserves | 5,708 | 6,115 |
Long-term deferred tax liabilities | 2,567 | 921 |
Long-term pension liability | 1,774 | 815 |
Other long-term liabilities | 3,842 | 3,695 |
Total liabilities | 135,149 | 104,107 |
Commitments and contingencies (Note 22) | ' | ' |
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, 80,375,777 shares issued and 66,913,908 shares outstanding at September 30, 2014, 80,039,104 shares issued and 66,577,235 shares outstanding at September 30, 2013 | 804 | 800 |
Additional paid-in capital | 1,834,619 | 1,825,499 |
Accumulated other comprehensive income | 15,687 | 22,604 |
Treasury stock at cost, 13,461,869 shares | -200,956 | -200,956 |
Total Brooks Automation, Inc. stockholders’ equity | -1,007,265 | -1,015,991 |
Total Brooks Automation, Inc. stockholders’ equity | 642,889 | 631,956 |
Noncontrolling interest in subsidiaries | 0 | 700 |
Total equity | 642,889 | 632,656 |
Total liabilities and equity | $778,038 | $736,763 |
CONSOLIDATED_BALANCE_SHEETS_Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
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 | 80,375,777 | 80,039,104 |
Common stock, shares outstanding | 66,913,908 | 66,577,235 |
Treasury stock, shares | 13,461,869 | 13,461,869 |
CONSOLIDATED_STATEMENTS_OF_OPE
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Revenue | ' | ' | ' |
Product | $387,032 | $335,011 | $402,505 |
Services | 95,816 | 87,429 | 86,478 |
Total revenue | 482,848 | 422,440 | 488,983 |
Cost of revenue | ' | ' | ' |
Product | 252,688 | 229,411 | 267,448 |
Services | 62,823 | 60,722 | 62,082 |
Total cost of revenue | 315,511 | 290,133 | 329,530 |
Gross profit | 167,337 | 132,307 | 159,453 |
Operating expenses | ' | ' | ' |
Research and development | 52,649 | 46,209 | 44,717 |
Selling, general and administrative | 111,098 | 96,516 | 97,978 |
Restructuring and other charges | 6,289 | 6,380 | 3,153 |
Pension settlement | 0 | 0 | 8,937 |
In-process research and development | 0 | 0 | 3,026 |
Total operating expenses | 170,036 | 149,105 | 157,811 |
Operating income (loss) | -2,699 | -16,798 | 1,642 |
Interest income | 950 | 1,032 | 1,213 |
Interest expense | -202 | -2 | -14 |
Other income, net | 256 | 1,227 | 660 |
Income (loss) before income taxes and equity in earnings of equity method investments | -1,695 | -14,541 | 3,501 |
Income tax benefit | -1,980 | -4,985 | -126,201 |
Income (loss) before equity in earnings of equity method investments | 285 | -9,556 | 129,702 |
Equity in earnings of equity method investments | 1,235 | 2,442 | 2,133 |
Income (loss) from continuing operations | 1,520 | -7,114 | 131,835 |
Income from discontinued operations, net of tax | 30,002 | 4,964 | 5,000 |
Net income (loss) | 31,522 | -2,150 | 136,835 |
Net income attributable to noncontrolling interests | -161 | -65 | -46 |
Net income (loss) attributable to Brooks Automation, Inc. | $31,361 | ($2,215) | $136,789 |
Basic net income (loss) per share attributable to Brooks Automation, Inc. common stockholders: | ' | ' | ' |
Income (loss) from continuing operations (USD per share) | $0.02 | ($0.11) | $2.02 |
Income from discontinued operations, net of tax (USD per share) | $0.45 | $0.08 | $0.08 |
Basic net income (loss) per share attributable to Brooks Automation, Inc. (USD per share) | $0.47 | ($0.03) | $2.10 |
Earnings Per Share, Diluted [Abstract] | ' | ' | ' |
Income (loss) from continuing operations (USD per share) | $0.02 | ($0.11) | $2.01 |
Income from discontinued operations, net of tax (USD per share) | $0.44 | $0.08 | $0.08 |
Diluted net income (loss) per share attributable to Brooks Automation, Inc. common stockholders (USD per share) | $0.46 | ($0.03) | $2.08 |
Dividend declared per share (USD per share) | $0.34 | $0.32 | $0.32 |
Weighted-average shares used in computing earnings (loss) per share: | ' | ' | ' |
Basic (shares) | 66,648 | 65,912 | 65,128 |
Diluted (shares) | 67,644 | 65,912 | 65,722 |
CONSOLIDATED_STATEMENTS_OF_COM
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Statement of Comprehensive Income [Abstract] | ' | ' | ' |
Net income (loss) | $31,522 | ($2,150) | $136,835 |
Change in cumulative translation adjustment | -6,296 | -2,113 | -2,406 |
Change in unrealized gain (loss) on marketable securities | -104 | -135 | 393 |
Change in fair value on cash flow hedges | -14 | 14 | 0 |
Actuarial gain (loss) | -503 | 1,109 | -606 |
Pension settlement | 0 | 87 | 8,937 |
Comprehensive income (loss), net of tax | 24,605 | -3,188 | 143,153 |
Comprehensive income attributable to noncontrolling interests | -161 | -65 | -46 |
Comprehensive income (loss) attributable to Brooks Automation, Inc., net of tax | $24,444 | ($3,253) | $143,107 |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Cash flows from operating activities | ' | ' | ' |
Net income (loss) | $31,522 | ($2,150) | $136,835 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ' | ' | ' |
Depreciation and amortization | 23,459 | 24,155 | 21,620 |
Impairment of intangible assets | 398 | 1,960 | 0 |
Impairment of other assets | 2,621 | 0 | 0 |
Stock-based compensation | 10,912 | 7,757 | 8,647 |
Amortization of premium on marketable securities | 1,255 | 1,274 | 2,401 |
Undistributed earnings of joint ventures | -1,235 | -2,442 | -2,133 |
Deferred income tax benefit | -1,779 | -2,936 | -122,136 |
Pension settlement | 0 | 87 | 8,937 |
Gain on disposal of businesses | -27,444 | 0 | 0 |
Loss (gain) on disposal of long-lived assets | 13 | -1,394 | -63 |
Changes in operating assets and liabilities, net of acquisitions and disposals: | ' | ' | ' |
Accounts receivable | 12,098 | 6,422 | -784 |
Inventories | 9,598 | 15,490 | 5,874 |
Prepaid expenses and other current assets | -12,325 | 4,359 | 5,801 |
Accounts payable | -11,924 | 3,123 | -11,182 |
Deferred revenue | 5,900 | 8,971 | -4,684 |
Accrued warranty and retrofit costs | -1,102 | -1,806 | -123 |
Accrued compensation and benefits | 6,783 | -2,625 | -4,878 |
Accrued restructuring costs | 2,161 | -972 | 1,930 |
Accrued pension | 997 | -950 | -5,772 |
Net cash provided by operating activities | 1,873 | -3,934 | -4,252 |
Net cash provided by operating activities | 53,781 | 54,389 | 36,038 |
Cash flows from investing activities | ' | ' | ' |
Purchases of property, plant and equipment | -5,518 | -3,635 | -8,653 |
Purchases of marketable securities | -174,287 | -91,740 | -132,015 |
Sale/maturity of marketable securities | 112,085 | 145,023 | 131,317 |
Proceeds from divestitures | 85,369 | 0 | 0 |
Acquisitions, net of cash acquired | -35,625 | -68,331 | -9,216 |
Decrease in restricted cash | 177 | 586 | 530 |
Other investment | 0 | 0 | -3,000 |
Proceeds from the sale of property, plant and equipment | 0 | 14,082 | 0 |
Payment of deferred leasing cost | 0 | -3,134 | 0 |
Net cash used in investing activities | -17,799 | -7,149 | -21,037 |
Cash flows from financing activities | ' | ' | ' |
Proceeds from issuance of common stock, net of issuance costs | 1,838 | 1,851 | 1,705 |
Repayment of capital lease obligations | -239 | 0 | 0 |
Acquisition of noncontrolling interest | -3,189 | 0 | 0 |
Common stock dividend paid | -22,875 | -21,328 | -20,953 |
Net cash used in financing activities | -24,465 | -19,477 | -19,248 |
Effects of exchange rate changes on cash and cash equivalents | -374 | 569 | 53 |
Net increase (decrease) in cash and cash equivalents | 11,143 | 28,332 | -4,194 |
Cash and cash equivalents, beginning of year | 82,971 | 54,639 | 58,833 |
Cash and cash equivalents, end of year | 94,114 | 82,971 | 54,639 |
Supplemental disclosures: | ' | ' | ' |
Cash paid during the year for interest | 202 | 2 | 14 |
Cash paid (refunded) during the year for income taxes, net | 1,084 | -762 | 4,282 |
Acquisition of buildings and land through capital lease | $8,537 | $0 | $0 |
CONSOLIDATED_STATEMENTS_OF_CHA
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (USD $) | 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 |
In Thousands, unless otherwise specified | ||||||||
Beginning Balance at Sep. 30, 2011 | $518,936 | $797 | $1,809,287 | $17,324 | ($1,108,105) | ($200,956) | $518,347 | $589 |
Beginning Balance (in shares) at Sep. 30, 2011 | ' | 79,737,189 | ' | ' | ' | ' | ' | ' |
Shares issued under stock option, restricted stock and purchase plans, net (in shares) | ' | 53,368 | ' | ' | ' | ' | ' | ' |
Shares issued under stock option, restricted stock and purchase plans, net | -227 | 1 | -228 | ' | ' | ' | -227 | ' |
Stock-based compensation | 8,647 | ' | 8,647 | ' | ' | ' | 8,647 | ' |
Common stock dividend declared | -21,208 | ' | ' | ' | -21,208 | ' | -21,208 | ' |
Comprehensive income (loss): | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) | 136,835 | ' | ' | ' | 136,789 | ' | 136,789 | 46 |
Currency translation adjustments | -2,406 | ' | ' | -2,406 | ' | ' | -2,406 | ' |
Change in unrealized gain (loss) on marketable securities | 393 | ' | ' | 393 | ' | ' | 393 | ' |
Actuarial gain (loss) arising in the year | -606 | ' | ' | -606 | ' | ' | -606 | ' |
Recognition of pension settlement in earnings | 8,937 | ' | ' | 8,937 | ' | ' | 8,937 | ' |
Ending Balance at Sep. 30, 2012 | 649,301 | 798 | 1,817,706 | 23,642 | -992,524 | -200,956 | 648,666 | 635 |
Ending Balance (in shares) at Sep. 30, 2012 | ' | 79,790,557 | ' | ' | ' | ' | ' | ' |
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 gain (loss) on marketable securities | -135 | ' | ' | -135 | ' | ' | -135 | ' |
Actuarial gain (loss) arising in the year | 1,109 | ' | ' | 1,109 | ' | ' | 1,109 | ' |
Changes in unrealized gain on cash flow hedges | 14 | ' | ' | 14 | ' | ' | 14 | ' |
Recognition of pension settlement in earnings | 87 | ' | ' | 87 | ' | ' | 87 | ' |
Ending Balance at Sep. 30, 2013 | 632,656 | 800 | 1,825,499 | 22,604 | -1,015,991 | -200,956 | 631,956 | 700 |
Ending Balance (in shares) at Sep. 30, 2013 | ' | 80,039,104 | ' | ' | ' | ' | ' | ' |
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 gain (loss) on marketable securities | -104 | ' | ' | -104 | ' | ' | -104 | ' |
Actuarial gain (loss) arising in the year | -503 | ' | ' | -503 | ' | ' | -503 | ' |
Changes in unrealized gain on cash flow hedges | -14 | ' | ' | -14 | ' | ' | -14 | ' |
Ending Balance at Sep. 30, 2014 | $642,889 | $804 | $1,834,619 | $15,687 | ($1,007,265) | ($200,956) | $642,889 | $0 |
Ending Balance (in shares) at Sep. 30, 2014 | ' | 80,375,777 | ' | ' | ' | ' | ' | ' |
CONSOLIDATED_STATEMENTS_OF_CHA1
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY Statements of Changes in Equity (Phantom) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Changes in unrealized loss on marketable securities, tax | $79 | $62 |
Changes in unrealized gain or loss on cash flow hedges, tax | 9 | 9 |
Actuarial gain or loss arising in the year, tax | $360 | $471 |
Nature_of_the_Business
Nature of the Business | 12 Months Ended |
Sep. 30, 2014 | |
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 manufacturing and life sciences. 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 and through product development initiatives and strategic business acquisitions, Brooks has expanded its products and services to meet the needs of customers in the life science markets and in technology markets adjacent to semiconductor. | |
In the second quarter of fiscal year 2014, the Company determined that its Granville-Phillips Gas Analysis & Vacuum Measurement ("Granville-Phillips") business met the criteria to be 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. Assets and liabilities identifiable within the Granville-Phillips business are reported as "Assets held for sale" and "Liabilities held for sale," respectively, in the Consolidated Balance Sheets. 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. The discussion in the notes to these consolidated financial statements, unless otherwise noted, relate solely to the Company's continuing operations. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended | |||||||||||
Sep. 30, 2014 | ||||||||||||
Accounting Policies [Abstract] | ' | |||||||||||
Summary of Significant Accounting Policies | ' | |||||||||||
Summary of Significant Accounting Policies | ||||||||||||
Principles of Consolidation and Basis of Presentation | ||||||||||||
The consolidated financial statements include the accounts of the Company and all majority-owned subsidiaries. All intercompany accounts and transactions are eliminated. Equity investments in which the Company exercises significant influence but does not control and is not the primary beneficiary are accounted for using the equity method of accounting. | ||||||||||||
Use of Estimates | ||||||||||||
The preparation of financial statements in conformity with generally accepted accounting principles in the United States ("GAAP") 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 and the reported amounts of revenue and expenses during the reporting period. Significant estimates are associated with accounts receivable, inventories, intangible assets other than goodwill, goodwill, long-lived assets, derivative financial instruments, deferred income taxes, warranty obligations, revenue recognized using the percentage of completion method, pension obligations and stock-based compensation expense. Although the Company regularly assesses these estimates, actual results could differ from those estimates. Changes in estimates are recorded in the period in which they become known. | ||||||||||||
Foreign Currency Translation | ||||||||||||
Some transactions of the Company and its subsidiaries are made in currencies different from their functional currency. Foreign currency gains (losses) on these transactions or balances are recorded in “Other income, net” when incurred. Net foreign currency transaction losses totaled $1.2 million, $0.9 million and $0.4 million for the fiscal years ended September 30, 2014, 2013 and 2012, respectively. For non-U.S. subsidiaries, assets and liabilities are translated at period-end exchange rates, and statements of operations items are translated at the average exchange rates for the period. The local currency is considered to be the functional currency for all of the Company's foreign subsidiaries and, accordingly, translation adjustments are reported in “Accumulated other comprehensive income.” Foreign currency translation adjustments are one of the components of comprehensive income (loss). | ||||||||||||
Derivative Financial Instruments | ||||||||||||
All derivatives, whether designated in a hedging relationship or not, are recorded on 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 further, on the type of hedging relationship. For those derivative instruments that are designated and qualify as hedging instruments, the Company must designate the hedging instrument, based on the exposure being hedged, as a fair value hedge, cash flow hedge or a hedge of a net investment in a foreign operation. 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 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 are 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 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 and losses consistent with the classification of the underlying risk. | ||||||||||||
Cash and Cash Equivalents | ||||||||||||
Cash and cash equivalents include cash and highly liquid investments with original maturities of three months or less. At September 30, 2014 and 2013, cash equivalents were $6.4 million and $7.8 million, respectively. Cash equivalents are held at cost which approximates fair value due to their short-term maturities and varying interest rates. | ||||||||||||
Concentration of Credit Risk | ||||||||||||
Financial instruments, which potentially subject the Company to concentrations of credit risk, are 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 required for use in operations in high credit quality securities based on the Company's investment policy. The Company's investment policy provides guidelines and limits regarding credit quality, investment concentration, investment type, and maturity that the Company believes will provide liquidity and reduce risk of loss of capital. The Company’s customers are concentrated in the semiconductor industry, and relatively few customers account for a significant portion of the Company’s revenue. 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 account for approximately 37%, 40% and 45% of revenue for the fiscal years ended September 30, 2014, 2013 and 2012, respectively. One of the Company's customers accounted for 11% of revenue for the fiscal year ended September 30, 2014. At September 30, 2014, no single customer represented 10% of the Company’s accounts receivable. | ||||||||||||
Fair Value of Financial Instruments | ||||||||||||
The Company's financial instruments include cash and cash equivalents, restricted cash, marketable securities, derivative instruments, accounts receivable, note receivable and accounts payable. In the case of marketable securities and derivative instruments, measurement is based on quoted market prices for identical or similar securities or instruments which represent fair value. The carrying amounts of other financial instruments reported in the Consolidated Balance Sheets approximate their fair value because of their short-term nature. | ||||||||||||
Accounts Receivable and Allowance for Doubtful Accounts and Sales Returns | ||||||||||||
Trade accounts receivable are recorded at the invoiced amount and do not bear interest. The allowance for doubtful accounts is the Company's best estimate of the amount of probable credit losses in its existing accounts receivable. The Company determines the allowance based on a number of factors, including an evaluation of customer credit worthiness, the age of the outstanding receivable, economic trends and historical experience. The Company reviews its allowance for doubtful accounts on a quarterly basis and changes in estimates are reflected in the period in which they become known. Accounts receivable balances are written-off against the allowance for doubtful accounts when the Company determines that the receivable is not recoverable. Provisions for doubtful accounts are recorded in "Selling, general and administrative expenses" in the Consolidated Statements of Operations. The allowance for sales returns is the Company's best estimate of probable returns from its customers. 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 being determined using a standard costing system which approximates cost based on a first-in, first-out method. The Company provides inventory 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 less accumulated depreciation. Depreciation is computed using the straight-line method. Depreciable lives are summarized below: | ||||||||||||
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 term of the respective leases. Equipment used for demonstrations to customers is included in machinery and equipment and is depreciated over its estimated useful life. Repair and maintenance costs are expensed as incurred. | ||||||||||||
The Company has developed software for internal use. Internal and external labor costs incurred during the application development stage of a project are capitalized. Costs incurred prior to application development and post implementation are expensed as incurred. Training and data conversion costs are also expensed as incurred. | ||||||||||||
When an asset is retired, the cost of the asset disposed of and the related accumulated depreciation are removed from the accounts, and any resulting gain or loss is included in the determination of operating income (loss). | ||||||||||||
As a result of the Company's acquisitions, the Company has identified finite-lived intangible assets other than goodwill. Finite-lived intangible assets are valued based on estimates of future cash flows and amortized over their estimated useful life using 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. When the Company determines that indicators of potential impairment exist, the next step of the impairment test requires that the potentially impaired long-lived asset group is tested for recoverability. The test for recoverability compares the undiscounted future cash flows of the long-lived asset group 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 values of the long-lived asset group exceed the future cash flows, the assets are considered to be potentially impaired. The next step in the impairment process is to determine the fair value of the individual net assets within the long-lived asset group. If the aggregate fair values of the individual net assets of the group are less than their carrying values, an impairment is recorded equal to the excess of the aggregate carrying value of the group over the aggregate fair value. The loss is allocated to each asset within the group based on their relative carrying values, with no asset reduced below its fair value. | ||||||||||||
The amortizable lives of intangible assets, including those identified as a result of purchase accounting, are summarized as follows: | ||||||||||||
Patents | 7 - 15 years | |||||||||||
Completed technology | 5 - 10 years | |||||||||||
Customer relationships | 5 - 13 years | |||||||||||
Goodwill | ||||||||||||
Goodwill represents the excess of purchase price over the fair value of net tangible and identifiable intangible assets of the businesses the Company acquired. The Company performs an annual impairment test of its goodwill on September 30 of each fiscal year unless interim indicators of impairment exist. Management's judgments are based on market and operational conditions at the time of the evaluation and can include management's best estimate of future business activity, which in turn drives estimates of future cash flows from these assets and the reporting units with 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 value. Future business conditions and/or activity could differ materially from the projections made by management causing the need for additional adjustments and impairment charges. | ||||||||||||
The testing of goodwill for impairment is performed at a level referred to as a reporting unit. A reporting unit is either the “operating segment level” or one level below, which is referred to as a “component.” The level at which the impairment test is performed requires an assessment as to whether the operations below the operating segment constitute a self-sustaining business, in which case testing is generally required to be performed at this level. The Company currently has four reporting units that have goodwill, including two components that are part of the Brooks Product Solutions operating segment, one reporting unit that is the Brooks Global Services operating segment and one reporting unit that is the Brooks Life Science Systems operating segment. | ||||||||||||
The Company determines the fair value of its reporting units using an Income Approach, specifically the Discounted Cash Flow Method (“DCF Method”). The DCF Method includes future cash flow projections, which are discounted to present value, and an estimate of terminal values, which are also discounted to present value. Terminal values represent the present value an investor would pay today for the rights to the cash flows of the business for the fiscal years subsequent to the discrete cash flow projection period. The Company considers the DCF Method to be the most appropriate valuation indicator as the DCF analyses are based on management's long-term financial projections. Given the dynamic nature of the cyclical semiconductor equipment market, management's projections as of the valuation date are considered more objective than comparisons to market metrics for peer companies, which fluctuate over the cycle. However, the Company also uses market-based valuation techniques to test the reasonableness of the reporting unit fair values determined by the DCF Method and compares the aggregate fair value of its reporting units plus its net corporate assets to its overall market capitalization. | ||||||||||||
Goodwill impairment testing is a two-step process. The first step of the goodwill impairment test, used to identify potential impairment, compares the fair value of each reporting unit to its respective carrying amount, including goodwill. 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 the fair value, the second step of the goodwill impairment test must be completed to measure the amount of the impairment loss, if any. The second step compares the implied fair value of goodwill with the carrying value of goodwill. The implied fair value is determined by allocating the fair value of the reporting unit to all of the assets and liabilities of that unit, the excess of the fair value over amounts assigned to its assets and liabilities is the implied fair value of goodwill. The implied fair value of goodwill determined in this step is compared to the carrying value of goodwill. If the implied fair value of goodwill is less than the carrying value of goodwill, an impairment loss is recognized equal to the difference. | ||||||||||||
Pension Plans | ||||||||||||
The cost and obligations of the Company's defined benefit pension plans are calculated using many assumptions to estimate the benefits that the employee earns while working, the amount of which cannot be completely determined until the benefit payments cease. Major assumptions used in the 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 service. 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 the following criteria have been met: persuasive evidence of an arrangement exists with the customer; delivery of the specified products has occurred or services have been rendered; fees are fixed or determinable; and collection of the related receivable is reasonably assured. The arrangements for the sale of certain of the Company's products include customer acceptance provisions. These provisions are included in these arrangements to ensure that the product delivered to the customer meets published specifications. Prior to shipment of its products, the Company typically inspects the product, tests its functionality and documents that it meets the published specifications. In general, the Company's inspections and testing replicate the testing that will be performed at the customer site prior to final acceptance by the customer. In situations where the Company has sufficient history of objectively demonstrating that the acceptance criteria in the arrangement has been achieved prior to delivery, which are typically for products with limited customization, revenue is recognized in advance of final customer acceptance because there are no remaining substantive contingencies. Arrangements with certain customers also 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 that the Company recognizes 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 part of a multiple-element arrangement. When significant on-site customer acceptance provisions are present in the arrangement, or the Company is not able to objectively demonstrate that the acceptance criteria have been met, revenue is recognized upon receiving acceptance from the customer. | ||||||||||||
Revenue from product sales that include significant customization, which primarily include life science automation systems, is recorded using the percentage of completion method. Under the percentage of completion method revenue is recorded 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 accrued in the same period the Company determines that the loss is probable. If the Company determines that a loss is probable, it estimates the amount of the loss by comparing total estimated contract revenue to the total estimated contract costs. Significant judgment is required when 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 arrangements for products with significant customization that include contractual terms that prohibit use of the percentage of completion method. In some circumstances, percentage of completion is not appropriate, as it relates to the contractual rights of the customer, and in these cases the Company uses the completed-contract method. Under the completed-contract method, income is recognized only when a contract is completed or substantially completed. | ||||||||||||
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 upon the shipment of the repaired item back to the customer. In instances where the repair or upgrade includes installation, revenue is recognized when the installation is completed. | ||||||||||||
A portion of the revenue arrangements for the Company's products, particularly in sales of life science automation systems, are multiple element arrangements that can include product, service and other elements. For revenue arrangements with multiple elements, arrangement consideration is allocated to each element based upon their relative selling price using vendor-specific objective evidence (“VSOE”), or third-party evidence (“TPE”) or based upon the relative selling price using estimated selling prices if VSOE or TPE does not exist. The Company relies primarily on estimated selling prices because it generally does not have VSOE or TPE. The Company recognizes revenue on each element of the arrangement in accordance with its policies for revenue recognition. The fair value of any undelivered elements is deferred until the undelivered element is delivered and all other criteria for revenue recognition have been met. | ||||||||||||
Warranty | ||||||||||||
The Company offers warranties on the sales of certain of its products and records an accrual for estimated future claims. Such accruals are based upon historical experience and management's estimate of the level of future claims. | ||||||||||||
Research and Development Expenses | ||||||||||||
Research and development costs are charged to expense when incurred. | ||||||||||||
Stock-Based Compensation | ||||||||||||
The Company measures compensation cost for all employee stock awards at fair value on the date of grant and recognizes compensation expense over the service period for awards expected to vest. The fair value of restricted stock 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, and the fair value of stock options is determined using the Black-Scholes valuation model. Such value is recognized as expense ratably over the service period, net of estimated forfeitures. The estimation of stock awards that will ultimately vest requires significant judgment. The Company considers many factors when estimating expected forfeitures, including types of awards, employee class, and historical experience. In addition, for stock-based awards where vesting is dependent upon achieving certain operating performance goals, the Company estimates the likelihood of achieving the performance goals. Actual results, and future changes in estimates, may differ substantially from the Company's current estimates. | ||||||||||||
The following table reflects stock-based compensation expense, excluding amounts related to discontinued operations, recorded during the fiscal years ended September 30, 2014, 2013 and 2012 (in thousands): | ||||||||||||
Year ended September 30, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Restricted stock | $ | 10,469 | $ | 7,112 | $ | 7,949 | ||||||
Employee stock purchase plan | 445 | 496 | 549 | |||||||||
$ | 10,914 | $ | 7,608 | $ | 8,498 | |||||||
Valuation Assumptions for Employee Stock Purchase Plan | ||||||||||||
The fair value of shares issued under the employee stock purchase plan was 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, 2014, 2013 and 2012: | ||||||||||||
Year ended September 30, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Risk-free interest rate | 0.1 | % | 0.1 | % | 0.1 | % | ||||||
Volatility | 25 | % | 32 | % | 45 | % | ||||||
Expected life | 6 months | 6 months | 6 months | |||||||||
Dividend yield | 3.40% | 3.30% - 3.40% | 2.75% - 3.30% | |||||||||
The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of grant for periods corresponding with the expected life of the share; expected volatilities are based on historical volatilities of the Company's common stock; and the expected life represents the weighted average period of time that employee stock purchase plan shares are expected to be purchased. Dividend yields are projected based on the Company's history of dividends declared, and management's intention for future dividend declarations. | ||||||||||||
Equity Incentive Plans | ||||||||||||
The Company's equity incentive plans are intended to attract and retain employees and to provide an incentive for them to assist the Company to achieve long-range performance goals and to enable them to participate in the long-term growth of the Company. 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 vesting period of 4 years and are exercisable for a period not to exceed 10 years from the date of issuance. Restricted stock awards generally vest over 3 years. At September 30, 2014, a total of 2,486,983 shares were reserved and available for the issuance of awards under the plans. | ||||||||||||
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 consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective income tax bases, and operating loss and tax credit carryforwards. The Company's consolidated financial statements contain certain deferred tax assets which have arisen primarily as a result of operating losses, as well as other temporary differences between financial and tax accounting. A valuation allowance is established if the likelihood of realization of the deferred tax assets is not considered more likely than not based on an evaluation of positive and negative evidence and the extent to which that evidence is objectively verifiable. Significant management judgment is required in determining the Company's provision for income taxes, 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 on audit, 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 on audit, the second step requires the Company to estimate and measure the tax benefit as the largest amount that is more than 50% likely 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, changes in tax law, new audit activity, and effectively settled issues. Determining whether an uncertain tax position is effectively settled requires judgment. Such a change in recognition or measurement would result in the recognition of a tax benefit or an additional charge to the tax provision. | ||||||||||||
Earnings Per Share | ||||||||||||
Basic earnings per share is calculated based on the weighted average number of common shares outstanding during the period. Diluted earnings per share is calculated based on the weighted average number of common shares and dilutive common equivalent shares assumed outstanding during the period. Shares used to compute diluted earnings per share exclude common share equivalents if their inclusion would have an anti-dilutive effect. | ||||||||||||
Recent Accounting Pronouncements | ||||||||||||
In July 2013, the Financial Accounting Standards Board ("FASB") issued an amendment to the accounting guidance for presentation of unrecognized tax benefits. The prior guidance related to unrecognized tax benefits did not explicitly address financial statement presentation of unrecognized tax benefits when a net operating loss carryforward, a similar tax loss or a tax credit carryforward exists. The amended guidance eliminates the existing diversity in practice in the presentation of unrecognized tax benefits in these instances. Under the amended guidance, an unrecognized tax benefit, or a portion of an unrecognized tax benefit, will be presented in the financial statements as a reduction of a deferred tax asset when an operating loss carryforward, a similar tax loss or a tax credit carryforward exists, with limited exceptions. This amended guidance is effective for fiscal years beginning on or after December 15, 2013. The adoption of this guidance will not have a material impact on the Company's financial position or results of operations. | ||||||||||||
In April 2014, the FASB issued an amendment to the accounting guidance for reporting discontinued operations. The amended guidance raises the threshold for disposals to qualify as a discontinued operation by requiring a component of an entity that is held for sale, or has been disposed of by sale, to represent a strategic shift that has or will have a major effect on operations and financial results. Under the amended guidance, a strategic shift could include the disposal of a major line of business, a major geographical area, a major equity method investment or other major parts of an entity. In addition, the new guidance allows companies to have significant continuing involvement and continuing cash flows with the discontinued operation. The amended guidance is effective for fiscal years beginning on or after December 15, 2014. Early adoption is permitted but not required for disposals, or classifications as held for sale, that have not been previously reported in financial statements. The Company has elected not to adopt this amended guidance in regard to the Granville-Phillips discontinued operation. | ||||||||||||
In May 2014, the FASB issued new accounting guidance for reporting revenue recognition. The guidance recognizes 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. The five step process may make it possible that more judgment and estimation will be required within the revenue recognition process than required under existing 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. This guidance is effective for fiscal years beginning after December 15, 2016. Early adoption is not permitted. The Company is evaluating the impact that the adoption of this guidance will have on its financial position and results of operations. |
Discontinued_Operations
Discontinued Operations | 12 Months Ended | |||||||||||
Sep. 30, 2014 | ||||||||||||
Discontinued Operations and Disposal Groups [Abstract] | ' | |||||||||||
Discontinued Operations | ' | |||||||||||
Discontinued Operations | ||||||||||||
The Granville-Phillips business unit develops, manufactures, sells and services 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, 2013 and 2012 (in thousands): | ||||||||||||
Year Ended September 30, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Revenue | $ | 18,921 | $ | 28,512 | $ | 30,468 | ||||||
Income from discontinued operations | $ | 4,888 | $ | 7,779 | $ | 7,919 | ||||||
Gain on the sale of the discontinued operations | 56,804 | — | — | |||||||||
Income tax provision | 31,690 | 2,815 | 2,919 | |||||||||
Income from discontinued operations, net of tax | $ | 30,002 | $ | 4,964 | $ | 5,000 | ||||||
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. | ||||||||||||
Assets and liabilities identifiable within the Granville-Phillips business are reported as "Assets held for sale" and "Liabilities held for sale," respectively, in the Consolidated Balance Sheets. The major classes of assets and liabilities of the discontinued operation as of September 30, 2013 is as follows (in thousands): | ||||||||||||
September 30, | ||||||||||||
2013 | ||||||||||||
Inventory | $ | 3,308 | ||||||||||
Property, plant and equipment | 364 | |||||||||||
Goodwill | 24,106 | |||||||||||
Assets held for sale | $ | 27,778 | ||||||||||
Deferred revenue | $ | 43 | ||||||||||
Accrued warranty and retrofit costs | 89 | |||||||||||
Liabilities held for sale | $ | 132 | ||||||||||
Acquisitions_and_Divestiture
Acquisitions and Divestiture | 12 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Business Combinations [Abstract] | ' | |||||||
Acquisitions | ' | |||||||
Acquisitions | ||||||||
Acquisitions Completed in 2014 | ||||||||
On April 30, 2014, the Company acquired all the outstanding stock of Dynamic Micro Systems Semiconductor Equipment GmbH (“DMS”), a German provider of automated contamination control solutions for front opening unified pod, or "FOUP," carriers and reticle storage, which are 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 expands the Company’s capabilities at semiconductor fabrication plants for yield improvement on new technology nodes. | ||||||||
The Company recorded the assets and liabilities associated with DMS at their fair values as of the acquisition date. The preliminary amounts recorded were as follows (in thousands): | ||||||||
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 reached settlement on certain working capital adjustments with the sellers of DMS' stock in the fourth quarter of fiscal year 2014. As a result of this settlement, the Company will receive a refund of approximately $2.2 million from certain escrows established at the date of acquisition. The amount to be received is reflected in the allocation presented above as a reduction in the consideration transferred. At September 30, 2014, $3.2 million remained in escrow related to potential future claims against the sellers of DMS' stock. The Company has not yet completed the final allocation of the consideration paid in connection with the acquisition of DMS with respect to matters associated with the balances held in escrow and the potential impact of these matters on deferred tax liabilities. However, the Company expects to complete the final allocation within the measurement period. | ||||||||
The Company used the relief-from-royalty method, a form of the income approach, to value the completed technology acquired. The principle behind this method is that the value of an intangible asset is equal to the present value of the after-tax royalty savings attributable to owning that intangible asset. The Company used the excess-earnings method, a form of the income approach, to value the customer relationship acquired. The principle behind this method is that 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 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 will be amortized using methods that approximate the pattern in which the economic benefits are expected to be realized, including variable declining balance and straight-line methods. | ||||||||
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. Goodwill arising from the acquisition of DMS is not deductible for tax purposes. | ||||||||
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 for the fiscal year ended September 30, 2014 was $5.5 million and the net loss was $4.5 million. The net loss includes charges to expense of $1.9 million related to the step-up in value of the acquired inventories, $0.9 million of amortization expense and $0.3 million of restructuring charges. | ||||||||
The following pro forma summary presents consolidated information of the Company for the fiscal years ended September 30, 2014 and 2013, as if the acquisition of DMS occurred on October 1, 2012 (in thousands): | ||||||||
Year ended September 30, | ||||||||
2014 | 2013 | |||||||
Revenue | $ | 501,951 | $ | 456,588 | ||||
Income (loss) from continuing operations | (4,788 | ) | (10,678 | ) | ||||
Net income (loss) attributable to Brooks Automation, Inc. | 25,053 | (5,779 | ) | |||||
The pro forma income (loss) from continuing operations and net income (loss) attributable to Brooks Automation, Inc. have been adjusted to reflect additional amortization from adjustments to intangible assets as if those adjustments had been applied as of October 1, 2012. | ||||||||
Acquisitions Completed in 2013 | ||||||||
In August 2013, the Company acquired certain assets and assumed certain liabilities of Matrical, Inc.’s (“Matrical”) life science businesses (collectively “the Matrical Assets”) for cash consideration of approximately $9.3 million, net of cash acquired. Matrical is a Spokane, Washington-based, privately held company that provided biological sample preparation, management and storage solutions to customers in agricultural biotechnology, biotechnology, life science and pharmaceutical markets. The acquisition of the Matrical Assets provides 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. (“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 provides 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. | ||||||||
The Company used the relief-from-royalty method to value the completed technology and the excess-earnings method to value 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 and are being amortized using the straight-line method because it 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 and are being amortized using methods that approximate the pattern in which the economic benefits are expected to be realized, including variable declining balance and straight-line methods. | ||||||||
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 and 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. | ||||||||
Acquisitions Completed in 2012 | ||||||||
In March 2012, the Company acquired assets, consisting primarily of intellectual property, from Intevac, Inc. for $3.0 million. Management evaluated this asset purchase to determine if this acquisition would be considered an acquisition of a business. Since only limited assets were acquired, management concluded that the inputs and processes required to meet the definition of a business were not acquired, and therefore, this transaction was treated as the purchase of an asset group. The Company expensed essentially all of this asset purchase as an in-process research and development cost in 2012. | ||||||||
In December 2011, the Company acquired the Celigo® automated Cell Cytometer product line (“Celigo”) from Cyntellect, Inc., for $8.7 million in cash, plus a deferred cash payment of $0.5 million that was paid in July 2012. The Celigo product line provided life science customers with cellular imaging in a high-throughput and easy-to-use platform. The Celigo product line was part of the Brooks Life Science Systems segment and provided a complementary analysis tool for customers currently using the Company’s automated sample management systems. | ||||||||
The Company completed the sale of the Celigo product line in the second quarter of fiscal year 2014. The Company has recorded impairment charges totaling $2.4 million related to long-lived assets acquired with the Celigo product line in connection with the sale. The impairment charge is described more fully in “Note 8. Goodwill and Intangible Assets." |
Marketable_Securities
Marketable Securities | 12 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | |||||||||||||||
Marketable Securities | ' | |||||||||||||||
Marketable Securities | ||||||||||||||||
The Company invests in marketable securities and classifies them as available-for-sale. The Company records these securities at fair value. 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. At the time that the maturity dates of these investments become one year or less, the securities are reclassified to current assets. 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. At the time of sale, any gains or losses, calculated by the specific identification method, will be recognized as a component of operating results. | ||||||||||||||||
The following is a summary of marketable securities (included in short and long-term marketable securities in the Consolidated Balance Sheets), including accrued interest receivable, as of September 30, 2014 and 2013 (in thousands): | ||||||||||||||||
Amortized | Gross | Gross | Fair Value | |||||||||||||
Cost | Unrealized | Unrealized | ||||||||||||||
Gains | Losses | |||||||||||||||
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 | ||||||||
September 30, 2013: | ||||||||||||||||
U.S. Treasury securities and obligations of U.S. government agencies | $ | 19,528 | $ | 6 | $ | (13 | ) | $ | 19,521 | |||||||
Corporate securities | 35,045 | 11 | (47 | ) | 35,009 | |||||||||||
Mortgage-backed securities | 1,093 | 25 | (1 | ) | 1,117 | |||||||||||
Other debt securities | 88 | — | — | 88 | ||||||||||||
Municipal securities | 25,199 | 15 | (7 | ) | 25,207 | |||||||||||
Bank certificate of deposits | 9,451 | — | (2 | ) | 9,449 | |||||||||||
$ | 90,404 | $ | 57 | $ | (70 | ) | $ | 90,391 | ||||||||
Gross realized gains on sales of available-for-sale marketable securities included in “Other income, net” in the Consolidated Statements of Operations was $35,000, $57,000 and $15,000 for the fiscal years ended September 30, 2014, 2013 and 2012, respectively. Gross realized losses of $8,000 and $36,000 for the fiscal years ended September 30, 2014 and 2013, respectively, were also recorded in "Other income, net." There were no gross realized losses for the fiscal year ended September 30, 2012. | ||||||||||||||||
The fair value of the marketable securities at September 30, 2014 by contractual maturity, are shown below (in thousands). Expected maturities could differ from contractual maturities because the issuers of the securities may have the right to prepay obligations without prepayment penalties. | ||||||||||||||||
Fair Value | ||||||||||||||||
Due in one year or less | $ | 68,130 | ||||||||||||||
Due after one year through five years | 79,885 | |||||||||||||||
Due after ten years | 3,327 | |||||||||||||||
$ | 151,342 | |||||||||||||||
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
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 standard describes three levels of inputs that may be used to measure fair value: | |||||||||||||||||
Level 1: 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: Observable inputs other than Level 1 prices, such as 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: Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. | |||||||||||||||||
Assets and liabilities of the Company measured at fair value on a recurring basis as of September 30, 2014 and 2013 are summarized as follows (in thousands): | |||||||||||||||||
Fair Value Measurements at Reporting Date Using | |||||||||||||||||
Description | September 30, | Quoted Prices in | Significant Other | Significant | |||||||||||||
2014 | Active Markets for | Observable Inputs | Unobservable Inputs | ||||||||||||||
Identical Assets | (Level 2) | (Level 3) | |||||||||||||||
(Level 1) | |||||||||||||||||
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 Measurements at Reporting Date Using | |||||||||||||||||
Description | September 30, | Quoted Prices in | Significant Other | Significant | |||||||||||||
2013 | Active Markets for | Observable Inputs | Unobservable Inputs | ||||||||||||||
Identical Assets | (Level 2) | (Level 3) | |||||||||||||||
(Level 1) | |||||||||||||||||
Assets | |||||||||||||||||
Cash equivalents | $ | 7,754 | $ | 6,152 | $ | 1,602 | $ | — | |||||||||
Available-for-sale securities | 90,391 | 2,199 | 88,192 | — | |||||||||||||
Foreign exchange contracts | 31 | — | 31 | — | |||||||||||||
Total Assets | $ | 98,176 | $ | 8,351 | $ | 89,825 | $ | — | |||||||||
Liabilities | |||||||||||||||||
Foreign exchange contracts | $ | 5 | $ | — | $ | 5 | $ | — | |||||||||
Cash Equivalents | |||||||||||||||||
Cash equivalents of $5.2 million and $6.2 million at September 30, 2014 and 2013, respectively, consisting of Money Market Funds, are classified within Level 1 of the fair value hierarchy because they are valued using quoted market prices in active markets. Cash equivalents of $1.2 million and $1.6 million at September 30, 2014 and 2013, respectively, consisting primarily of Bank Certificate of Deposits, are classified within Level 2 of the hierarchy because they are not actively traded. | |||||||||||||||||
Available-For-Sale Securities | |||||||||||||||||
Available-for-sale securities of $2.2 million at September 30, 2013 consisting of highly rated Corporate Bonds, are classified within Level 1 of the fair value hierarchy because they are valued using quoted market prices in active markets of identical assets or liabilities. Available-for-sale securities of $151.3 million and $88.2 million at September 30, 2014 and 2013, respectively, consisting of Municipal Securities, Bank Certificate of Deposits, Commercial Paper, U.S. Treasury Securities and Obligations of U.S. Government Agency Securities, and Mortgage-Backed Securities are classified within Level 2 of the fair value hierarchy because they are not actively traded and are valued using matrix pricing and benchmarking. 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 are classified within Level 2 of the fair value hierarchy because there may not be an active market for each contract. However, the inputs used to calculate the value of the contract were obtained from an active market. | |||||||||||||||||
Nonrecurring Fair Value Measurements | |||||||||||||||||
In addition to the assets and liabilities recorded at fair value on a recurring basis, the Company has a note receivable that is measured at fair value on a nonrecurring basis. During the third quarter of fiscal year 2014, the Company evaluated the recoverability of a loan provided to a strategic partner (the "Borrower") and adjusted its value based on fair value methods. The loan is represented by a note receivable, which is classified as a Level 3 instrument, as the inputs used in the analysis are unobservable and required significant management judgment. 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, and the subordination of the Company’s note to debt provided by a new lender as described in "Note 11. Note Receivable." The fair value of the loan, which the Company currently estimates to be $1.0 million, could be different under different conditions or different assumptions, including the varying assumptions regarding future cash flows of the Borrower or discount rates. |
Property_Plant_and_Equipment
Property, Plant and Equipment | 12 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||
Property, Plant and Equipment | ' | |||||||
Property, Plant and Equipment | ||||||||
Property, plant and equipment as of September 30, 2014 and 2013, excluding amounts related to the discontinued operations, were as follows (in thousands): | ||||||||
September 30, | ||||||||
2014 | 2013 | |||||||
Buildings and land | $ | 47,639 | $ | 38,539 | ||||
Computer equipment and software | 59,962 | 72,240 | ||||||
Machinery and equipment | 42,104 | 49,947 | ||||||
Furniture and fixtures | 4,774 | 9,456 | ||||||
Leasehold improvements | 17,771 | 13,937 | ||||||
Capital projects in progress | 1,528 | 2,042 | ||||||
173,778 | 186,161 | |||||||
Less accumulated depreciation and amortization | (123,595 | ) | (138,655 | ) | ||||
Property, plant and equipment, net | $ | 50,183 | $ | 47,506 | ||||
Depreciation expense, excluding amounts related to the discontinued operations, was $12.7 million, $13.7 million and $13.1 million for the fiscal years ended September 30, 2014, 2013 and 2012, respectively. |
Goodwill_and_Intangible_Assets
Goodwill and Intangible Assets | 12 Months Ended | |||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||||||||||||||
Goodwill and Intangible Assets | ' | |||||||||||||||||||||||
Goodwill and Intangible Assets | ||||||||||||||||||||||||
The Company performed its goodwill impairment test as of September 30, 2014 and 2013, and determined that no adjustment to goodwill was necessary. As of September 30, 2014, the fair value of all reporting units substantially exceeded the respective carrying values. The observable inputs used in the Company's DCF Method for the reporting units include discount rates at our 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. In addition, the Company determined the terminal value using the Gordon growth method which assumes that the reporting unit will grow and generate free cash flow at a constant rate. The Company believes that the Gordon growth method is the most appropriate method for determining the terminal value because the terminal value is calculated at the point in which the Company has assumed that the reporting units have reached stable growth rates. | ||||||||||||||||||||||||
The components of the Company’s goodwill, excluding amounts related to the discontinued operations, by business segment at September 30, 2014 and 2013 are as follows (in thousands): | ||||||||||||||||||||||||
Brooks | Brooks | Brooks | Other | Total | ||||||||||||||||||||
Product | Global | Life Science | ||||||||||||||||||||||
Solutions | Services | Systems | ||||||||||||||||||||||
Gross goodwill at September 30, 2012 | $ | 461,738 | $ | 151,238 | $ | 40,302 | $ | 26,014 | $ | 679,292 | ||||||||||||||
Acquisitions and adjustments during fiscal year 2013 | 20,899 | 5,554 | 7,137 | — | 33,590 | |||||||||||||||||||
Gross goodwill at September 30, 2013 | 482,637 | 156,792 | 47,439 | 26,014 | 712,882 | |||||||||||||||||||
Acquisitions and adjustments during fiscal year 2014 | 11,638 | — | (61 | ) | — | 11,577 | ||||||||||||||||||
Gross goodwill at September 30, 2014 | $ | 494,275 | $ | 156,792 | $ | 47,378 | $ | 26,014 | $ | 724,459 | ||||||||||||||
Accumulated goodwill impairments at September 30, 2012 | $ | (437,706 | ) | $ | (151,238 | ) | $ | — | $ | (26,014 | ) | $ | (614,958 | ) | ||||||||||
Impairments recorded during fiscal year 2013 | — | — | — | — | — | |||||||||||||||||||
Accumulated goodwill impairments at September 30, 2013 | (437,706 | ) | (151,238 | ) | — | (26,014 | ) | (614,958 | ) | |||||||||||||||
Impairments recorded during fiscal year 2014 | — | — | — | — | — | |||||||||||||||||||
Accumulated goodwill impairments at September 30, 2014 | $ | (437,706 | ) | $ | (151,238 | ) | $ | — | $ | (26,014 | ) | $ | (614,958 | ) | ||||||||||
Goodwill, less accumulated impairments at September 30, 2013 | $ | 44,931 | $ | 5,554 | $ | 47,439 | $ | — | $ | 97,924 | ||||||||||||||
Goodwill, less accumulated impairments at September 30, 2014 | $ | 56,569 | $ | 5,554 | $ | 47,378 | $ | — | $ | 109,501 | ||||||||||||||
The Company is required to test certain long-lived assets when indicators of impairment are present. The Company determined that impairment indicators were present for the long-lived assets related to the Celigo product line as of September 30, 2013. The long-lived assets in question 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 then evaluated to determine the amount of the impairment, if any. The fair value of the assets was based primarily on market-based valuation techniques. As a result of this analysis, management determined that an impairment loss of $2.0 million had occurred as of September 30, 2013, and allocated the loss amount 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 the first fiscal quarter of 2014 and determined that an additional impairment loss of $0.4 million, representing the remaining carrying value of the long-lived assets, was required. These impairment losses were recorded in the Brooks Life Science Systems segment. The impairment charge was allocated in the Consolidated Statements of Operations for the fiscal years ended September 30, 2014 and 2013 as follows (in thousands): | ||||||||||||||||||||||||
Year Ended September 30, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Reported as cost of revenue: | ||||||||||||||||||||||||
Completed technology intangible asset impairment | $ | 398 | $ | 1,910 | ||||||||||||||||||||
Reported as selling, general and administrative expense: | ||||||||||||||||||||||||
Trademarks and trade name intangible asset impairment | — | 50 | ||||||||||||||||||||||
Total impairment charges | $ | 398 | $ | 1,960 | ||||||||||||||||||||
The Company completed the sale of the Celigo product line in the second quarter of fiscal year 2014. The sale of the Celigo product line did not have a material impact on the Company's financial position or result of operations. | ||||||||||||||||||||||||
Components of the Company’s identifiable intangible assets, excluding amounts related to the discontinued operations, as of September 30, 2014 and 2013 are as follows (in thousands): | ||||||||||||||||||||||||
30-Sep-14 | 30-Sep-13 | |||||||||||||||||||||||
Cost | Accumulated | Net Book | Cost | Accumulated | Net Book | |||||||||||||||||||
Amortization | Value | Amortization | Value | |||||||||||||||||||||
Patents | $ | 7,808 | $ | 7,300 | $ | 508 | $ | 7,808 | $ | 7,196 | $ | 612 | ||||||||||||
Completed technology | 57,155 | 41,539 | 15,616 | 57,050 | 40,354 | 16,696 | ||||||||||||||||||
Trademarks and trade names | 3,496 | 3,496 | — | 3,564 | 3,554 | 10 | ||||||||||||||||||
Customer relationships | 73,389 | 29,963 | 43,426 | 66,687 | 23,917 | 42,770 | ||||||||||||||||||
$ | 141,848 | $ | 82,298 | $ | 59,550 | $ | 135,109 | $ | 75,021 | $ | 60,088 | |||||||||||||
Amortization expense, excluding amounts related to the discontinued operations, for intangible assets was $10.6 million, $9.8 million and $6.7 million for the fiscal years ended September 30, 2014, 2013 and 2012, respectively. | ||||||||||||||||||||||||
Estimated future amortization expense for the intangible assets recorded by the Company as of September 30, 2014 is as follows (in thousands): | ||||||||||||||||||||||||
Year ended September 30, | ||||||||||||||||||||||||
2015 | $ | 11,555 | ||||||||||||||||||||||
2016 | 10,240 | |||||||||||||||||||||||
2017 | 9,536 | |||||||||||||||||||||||
2018 | 7,229 | |||||||||||||||||||||||
2019 | 6,660 | |||||||||||||||||||||||
Thereafter | 14,330 | |||||||||||||||||||||||
$ | 59,550 | |||||||||||||||||||||||
Investment_in_Affiliates
Investment in Affiliates | 12 Months Ended |
Sep. 30, 2014 | |
Equity Method Investments and Joint Ventures [Abstract] | ' |
Equity Method Investments | ' |
Investments | |
The Company accounts for certain of its investments using the equity method of accounting. Under this method of accounting, the Company records in income its proportionate share of the earnings (losses) of the investee 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 (“BioCision”), a privately-held company based in Larkspur, California, for $4.0 million. 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 the level of equity investment at risk was not sufficient for BioCision to finance its activities without additional financial support and as a result, represented a variable interest entity. However, the Company does not have the power to direct the activities that most significantly impact BioCision’s economic performance and would not absorb the majority of the expected losses, and therefore does not qualify as the primary beneficiary. The Company has no future contractual funding commitments to BioCision and as a result, the Company's exposure to loss was limited to the amount of its investment. | |
For the fiscal year ended September 30, 2014, the Company recorded a loss of $0.3 million representing its proportional share in the losses of BioCision. At September 30, 2014, the carrying value of the investment in BioCision in the Company’s Consolidated Balance Sheet was $3.7 million. | |
ULVAC Cryogenics, Inc. | |
The Company participates in a 50% joint venture, ULVAC Cryogenics, Inc. (“UCI”) with ULVAC Corporation of Chigasaki, Japan. UCI manufactures and sells cryogenic vacuum pumps, principally to ULVAC Corporation. At September 30, 2014 and 2013, the carrying value of UCI in the Company's Consolidated Balance Sheet was $22.6 million and $22.7 million, respectively. For the fiscal years ended September 30, 2014, 2013 and 2012, the Company recorded income associated with UCI of $1.6 million, $2.6 million and $2.0 million, respectively. For the fiscal years ended September 30, 2014, 2013 and 2012, management fee payments received by the Company from UCI were $0.6 million, $0.6 million and $1.0 million, respectively. For the fiscal years ended September 30, 2014, 2013 and 2012, the Company incurred charges from UCI for products or services of $0.4 million, $0.5 million and $0.8 million, respectively. At September 30, 2014 and 2013, the Company owed UCI $79,000 and $26,000, respectively, in connection with accounts payable for unpaid products and services. During the fiscal years ended September 30, 2014 and 2013, the Company received $0.9 million and $5.0 million, respectively, of cash dividends from UCI which reduced the carrying value of the Company's investment. | |
Yaskawa Brooks Automation, Inc. | |
The Company participates in a 50% joint venture with Yaskawa Electric Corporation (“Yaskawa”) called Yaskawa Brooks Automation, Inc. (“YBA”) to exclusively market and sell Yaskawa's semiconductor robotics products and Brooks' automation hardware products to semiconductor customers in Japan. At September 30, 2014 and 2013, the carrying value of YBA in the Company's Consolidated Balance Sheet was $2.6 million and $3.0 million, respectively. For the fiscal years ended September 30, 2014, 2013 and 2012, the Company recorded income (expense) associated with YBA of $(0.1) million, $(0.2) million and $0.1 million, respectively. For the fiscal years ended September 30, 2014, 2013 and 2012, the Company earned revenue for sales to YBA of $7.4 million, $6.3 million and $8.0 million, respectively. The amount due from YBA included in accounts receivable at September 30, 2014 and 2013 was $2.1 million and $2.3 million, respectively. For the fiscal years ended September 30, 2014, 2013 and 2012, the Company incurred charges from YBA for products or services of $0.7 million, $0.5 million and $0.5 million, respectively. At September 30, 2014 and 2013 the Company owed YBA $133,000 and $47,000, respectively, in connection with accounts payable for unpaid products and services. |
Earnings_per_Share
Earnings per Share | 12 Months Ended | |||||||||||
Sep. 30, 2014 | ||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||
Earnings per Share | ' | |||||||||||
Earnings per Share | ||||||||||||
Below is a reconciliation of weighted average common shares outstanding for purposes of calculating basic and diluted earnings per share for the fiscal years ended September 30, 2014, 2013 and 2012 (in thousands, except per share data): | ||||||||||||
Year ended September 30, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Income (loss) from continuing operations | $ | 1,520 | $ | (7,114 | ) | $ | 131,835 | |||||
Income from discontinued operations, net of tax | 30,002 | 4,964 | 5,000 | |||||||||
Net income (loss) | 31,522 | (2,150 | ) | 136,835 | ||||||||
Net income attributable to noncontrolling interests | (161 | ) | (65 | ) | (46 | ) | ||||||
Net income (loss) attributable to Brooks Automation, Inc. | $ | 31,361 | $ | (2,215 | ) | $ | 136,789 | |||||
Weighted average common shares outstanding used in computing basic earnings per share | 66,648 | 65,912 | 65,128 | |||||||||
Dilutive common stock options and restricted stock units | 996 | — | 594 | |||||||||
Weighted average common shares outstanding for purposes of computing diluted earnings per share | 67,644 | 65,912 | 65,722 | |||||||||
Basic net income (loss) per share attributable to Brooks Automation, Inc. common stockholders: | ||||||||||||
Income (loss) from continuing operations | $ | 0.02 | $ | (0.11 | ) | $ | 2.02 | |||||
Income from discontinued operations, net of tax | 0.45 | 0.08 | 0.08 | |||||||||
Basic net income (loss) per share attributable to Brooks Automation, Inc. | $ | 0.47 | $ | (0.03 | ) | $ | 2.1 | |||||
Diluted net income (loss) per share attributable to Brooks Automation, Inc. common stockholders: | ||||||||||||
Income (loss) from continuing operations | $ | 0.02 | $ | (0.11 | ) | $ | 2.01 | |||||
Income from discontinued operations, net of tax | 0.44 | 0.08 | 0.08 | |||||||||
Diluted net income (loss) per share attributable to Brooks Automation, Inc. common stockholders | $ | 0.46 | $ | (0.03 | ) | $ | 2.08 | |||||
Options to purchase approximately 11,000 and 238,000 shares of common stock and 0 and 2,000 restricted stock units 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 and 2012, respectively, as their effect would be anti-dilutive. Outstanding stock options of 43,000 shares and 3,006,000 of unvested shares of 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. |
Investment_in_Variable_Interes
Investment in Variable Interest Entity | 12 Months Ended |
Sep. 30, 2014 | |
Receivables [Abstract] | ' |
Note Receivable | ' |
Note Receivable | |
In 2012, the Company provided the Borrower a loan of $3.0 million to support the Borrower's future product development and other working capital requirements. The loan had a stated interest rate of 9% and the outstanding principal and interest was payable 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, first refusal to acquire the Borrower and a redemption premium. The loan was secured by a security agreement granting the Company a first-priority security interest in all of the assets of the Borrower. | |
The Company determined that the level of equity investment at risk was not sufficient for the entity to finance its activities without additional financial support and as a result, represented a variable interest entity. However, the Company does not have the power to direct the activities that most significantly impact the Borrower's economic performance and would not absorb the majority of the expected losses from the Borrower, and therefore does not qualify as the primary beneficiary. The Company has no future contractual funding commitments to the Borrower and as a result, the Company's exposure to loss was limited to the outstanding principal and interest under 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 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 in the third quarter of fiscal year 2014. The impairment charge was recorded in the Consolidated Statements of Operations in selling, general and administrative expenses. | |
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, less amounts committed by 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 at September 30, 2014, which the Company currently estimates to be $1.0 million, could be different under different conditions or different assumptions, including the varying assumptions regarding future cash flows of the Borrower or discount rates. |
Derivative_Instruments
Derivative Instruments | 12 Months Ended | ||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||||
Derivative Instruments | ' | ||||||||||||||||||
Derivative Instruments | |||||||||||||||||||
In June 2013, the Company entered into 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 into revenue to coincide with recognition of the hedged transaction. The Company did not recognize any amounts related to ineffectiveness in the results of operations for the fiscal years ended September 30, 2014 or 2013 with respect to these contracts. The Company did not have any notional amounts outstanding under foreign currency contracts that qualify for cash flow hedge accounting at September 30, 2014. | |||||||||||||||||||
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 translation. 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 recorded as a component of "Other income, net" in the Consolidated Statements of Operations related to these contracts is as follows for the fiscal years ended September 30, 2014, 2013 and 2012 (in thousands): | |||||||||||||||||||
Year ended September 30, | |||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||
Realized gains (losses) on derivative instruments not designated as hedging instruments | $ | 185 | $ | 123 | $ | (151 | ) | ||||||||||||
The Company had the following notional amounts outstanding under foreign currency contracts that do not qualify for hedge accounting at September 30, 2014 and 2013 (in thousands): | |||||||||||||||||||
September 30, 2014: | |||||||||||||||||||
Buy Currency | Notional Amount | Sell Currency | Maturity | Notional Amount | Fair Value of | Fair Value of | |||||||||||||
of Buy Currency | of Sell Currency | Assets | Liabilities | ||||||||||||||||
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 | ||||||||||||||||
September 30, 2013: | |||||||||||||||||||
Buy Currency | Notional Amount | Sell Currency | Maturity | Notional Amount | Fair Value of | Fair Value of | |||||||||||||
of Buy Currency | of Sell Currency | Assets | Liabilities | ||||||||||||||||
U.S. dollar | 2,762 | Japanese yen | October 2013 to December 2013 | 273,000 | $ | 8 | $ | — | |||||||||||
Korean won | 740,000 | U.S. dollar | October 2013 | 688 | — | 2 | |||||||||||||
U.S. dollar | 304 | Israeli shekel | October 2013 | 1,075 | — | 3 | |||||||||||||
U.S. dollar | 231 | Singapore dollar | October 2013 | 290 | — | — | |||||||||||||
$ | 8 | $ | 5 | ||||||||||||||||
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. |
Income_Taxes
Income Taxes | 12 Months Ended | |||||||||||
Sep. 30, 2014 | ||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||
Income Taxes | ' | |||||||||||
Income Taxes | ||||||||||||
The components of the income tax benefit, excluding amounts related to the discontinued operations, for the fiscal years ended September 30, 2014, 2013 and 2012 are as follows (in thousands): | ||||||||||||
Year Ended September 30, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Current income tax provision (benefit): | ||||||||||||
Federal | $ | 15 | $ | 15 | $ | 15 | ||||||
State | 177 | 70 | 213 | |||||||||
Foreign | 1,417 | 681 | (1,374 | ) | ||||||||
Total current income tax provision (benefit) | 1,609 | 766 | (1,146 | ) | ||||||||
Deferred income tax benefit: | ||||||||||||
Federal | (2,276 | ) | (5,245 | ) | (121,203 | ) | ||||||
State | (35 | ) | (183 | ) | (439 | ) | ||||||
Foreign | (1,278 | ) | (323 | ) | (3,413 | ) | ||||||
Total deferred income tax benefit | (3,589 | ) | (5,751 | ) | (125,055 | ) | ||||||
Income tax benefit | $ | (1,980 | ) | $ | (4,985 | ) | $ | (126,201 | ) | |||
The components of income (loss) before income taxes and equity in earnings of equity method investments for the fiscal years ended September 30, 2014, 2013 and 2012 are as follows (in thousands): | ||||||||||||
Year Ended September 30, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Domestic | $ | (7,338 | ) | $ | (14,747 | ) | $ | (5,715 | ) | |||
Foreign | 5,643 | 206 | 9,216 | |||||||||
$ | (1,695 | ) | $ | (14,541 | ) | $ | 3,501 | |||||
The differences between the income tax benefit and income taxes computed using the applicable U.S. statutory federal tax rate for the fiscal years ended September 30, 2014, 2013 and 2012 are as follows (in thousands): | ||||||||||||
Year Ended September 30, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Income tax provision (benefit) computed at federal statutory rate | $ | (217 | ) | $ | (4,257 | ) | $ | 1,957 | ||||
State income taxes, net of federal benefit | (12 | ) | (101 | ) | 112 | |||||||
Foreign income taxed at different rates | (596 | ) | 493 | (832 | ) | |||||||
Dividends | (1,373 | ) | 115 | 956 | ||||||||
Change in deferred tax asset valuation allowance | 453 | 523 | (125,479 | ) | ||||||||
Reduction in uncertain tax positions | (1,236 | ) | (1,022 | ) | (3,732 | ) | ||||||
Nondeductible compensation | 1,064 | 474 | 1,339 | |||||||||
Tax credits | (704 | ) | (2,002 | ) | (1,195 | ) | ||||||
Travel and entertainment | 220 | 124 | 139 | |||||||||
Merger costs | 187 | 251 | — | |||||||||
Other | 234 | 417 | 534 | |||||||||
Income tax benefit | $ | (1,980 | ) | $ | (4,985 | ) | $ | (126,201 | ) | |||
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 $25.2 million at September 30, 2014. It is not practicable to compute the estimated deferred tax liability on these earnings as they vary with a high dependence on numerous factors including the timing of such future remittance and the future results of various foreign operations. | ||||||||||||
The significant components of the net deferred tax assets and liabilities as of September 30, 2014 and 2013 are as follows (in thousands): | ||||||||||||
September 30, | ||||||||||||
2014 | 2013 | |||||||||||
Accruals and reserves not currently deductible | $ | 12,456 | $ | 11,050 | ||||||||
Federal, state and foreign tax credits | 20,434 | 20,084 | ||||||||||
Other assets | 3,523 | 1,859 | ||||||||||
Net operating loss carryforwards | 67,380 | 101,717 | ||||||||||
Inventory reserves and valuation | 9,956 | 9,052 | ||||||||||
Deferred tax assets | 113,749 | 143,762 | ||||||||||
Depreciation and intangible amortization | 12,198 | 12,208 | ||||||||||
Deferred tax liabilities | 12,198 | 12,208 | ||||||||||
Valuation allowance | (18,354 | ) | (16,509 | ) | ||||||||
Net deferred tax asset | $ | 83,197 | $ | 115,045 | ||||||||
The net deferred tax assets, including current and noncurrent, decreased from $115.0 million to $83.2 million during the fiscal year ended September 30, 2014. The decrease of $31.8 million was primarily driven by a tax provision of $29.9 million related to the taxable gain on the sale of discontinued operations. When the business was sold, the Company realized a higher gain on a tax basis than the gain reported on a GAAP basis. The higher taxable gain resulted in an effective tax rate on the sale of 52.6% when calculated on GAAP results. The gain on sale of discontinued operations was reported net of the tax effect in the Consolidated Statements of Operations. | ||||||||||||
Management has considered the weight of all available evidence in determining whether a valuation allowance is required against its deferred tax assets at September 30, 2014. After 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 was 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 is the volatile semiconductor industry in which the Company operates. | ||||||||||||
The Company recorded a tax benefit of $121.8 million resulting from the reduction in the valuation allowance during the fiscal year ended September 30, 2012. The Company has continued to maintain 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 has also continued to maintain a valuation allowance in certain jurisdictions that have not generated historical cumulative profitability. | ||||||||||||
If future operating results of the U.S. or these foreign jurisdictions deviate from expectations, it is reasonably possible that there could be a further change in the valuation allowance in the future. A change in the valuation allowance, in whole or in part, would result in a non-cash income tax expense or benefit during the period of change. | ||||||||||||
As of September 30, 2014, the Company had federal, state and foreign net operating loss carryforwards of approximately $143.5 million, $97.9 million and $29.5 million, respectively, and federal and state research and development tax credit carryforwards of approximately $24.4 million available to reduce future tax liabilities, which expire at various dates through 2034. The net operating loss carryforward includes excess deductions related to stock compensation in the amount of $11.7 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 section 382 of the Internal Revenue Code of 1986, as amended (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 financial statements. 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, 2014, 2013 and 2012 is as follows (in thousands): | ||||||||||||
Unrecognized Tax | Interest | Total | ||||||||||
Benefit | and | |||||||||||
Penalties | ||||||||||||
Balance at October 1, 2011 | $ | 9,011 | $ | 1,989 | $ | 11,000 | ||||||
Additions for tax positions of prior years | 242 | 247 | 489 | |||||||||
Reductions from lapses in statutes of limitations | (3,125 | ) | (607 | ) | (3,732 | ) | ||||||
Foreign exchange rate adjustment | (167 | ) | 15 | (152 | ) | |||||||
Balance at September 30, 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 | ||||||
As of September 30, 2014, 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 tax expense, of which $0.3 million, $0.2 million and $0.2 million was recognized for the fiscal years ended September 30, 2014, 2013 and 2012, 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 2014 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. In the Company's U.S. and international jurisdictions, the years that may be examined vary, with the earliest tax year being 2008. 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 statement of financial position. The Company currently anticipates that it is reasonably possible that the unrecognized tax benefit will be reduced by an amount in the range between $1.2 million and $2.3 million during the next twelve months primarily as the result of statutes of limitations expiring. |
Postretirement_Benefits
Postretirement Benefits | 12 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
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 compensation during active employment; however, the level of benefits varies within the Plans. Eligibility is determined in accordance with local statutory requirements. | ||||||||||||||||
The Company previously had a defined benefit pension plan that covered certain employees in the United States. The Company settled its pension obligation with the participants of this plan in the fourth quarter of fiscal year 2012 which resulted in accelerated cash payments to the participants of approximately $6.4 million. In addition, the settlement resulted in a charge of $8.9 million for accelerated amortization of prior pension losses. The charge related to the settlement is included as a pension settlement charge in the Consolidated Statements of Operations. | ||||||||||||||||
The Company uses a September 30th measurement date in the determination of 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, 2014 and 2013 (in thousands): | ||||||||||||||||
September 30, | ||||||||||||||||
2014 | 2013 | |||||||||||||||
Benefit obligation at beginning of fiscal year | $ | 7,107 | $ | 10,181 | ||||||||||||
Service cost | 406 | 604 | ||||||||||||||
Interest cost | 154 | 148 | ||||||||||||||
Actuarial loss (gain) | 968 | (670 | ) | |||||||||||||
Benefits paid | (141 | ) | (1,421 | ) | ||||||||||||
Settlements paid | — | (1,383 | ) | |||||||||||||
Curtailment gain | — | (500 | ) | |||||||||||||
Foreign currency translation | (281 | ) | 148 | |||||||||||||
Benefit obligation at end of fiscal year | $ | 8,213 | $ | 7,107 | ||||||||||||
Fair value of assets at beginning of fiscal year | $ | 5,996 | $ | 8,015 | ||||||||||||
Actual return on plan assets | 98 | 304 | ||||||||||||||
Disbursements | (264 | ) | (1,573 | ) | ||||||||||||
Employer contributions | 302 | 292 | ||||||||||||||
Employee contributions | 200 | 194 | ||||||||||||||
Settlements paid | — | (1,383 | ) | |||||||||||||
Foreign currency translation | (201 | ) | 147 | |||||||||||||
Fair value of assets at end of fiscal year | $ | 6,131 | $ | 5,996 | ||||||||||||
Accrued benefit obligation | $ | 2,082 | $ | 1,111 | ||||||||||||
The accumulated benefit obligation of the Plans is $7.3 million and $6.3 million at September 30, 2014 and 2013, respectively. All of the Plans have an accumulated benefit obligation and projected benefit obligation in excess of assets of the respective Plan at September 30, 2014 and 2013. | ||||||||||||||||
The following table provides pension amounts recorded within the account line items of the Company’s Consolidated Balance Sheets as of September 30, 2014 and 2013 (in thousands): | ||||||||||||||||
September 30, | ||||||||||||||||
2014 | 2013 | |||||||||||||||
Accrued compensation and benefits | $ | 308 | $ | 296 | ||||||||||||
Long-term pension liability | 1,774 | 815 | ||||||||||||||
In addition, accumulated other comprehensive income at September 30, 2014 and 2013 includes unrecognized net actuarial gains (losses) of $(0.5) million and $0.5 million, respectively. | ||||||||||||||||
The components of the Company’s net pension cost for the fiscal years ended September 30, 2014, 2013 and 2012 is as follows (in thousands): | ||||||||||||||||
Year ended September 30, | ||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||
Service cost | $ | 406 | $ | 604 | $ | 787 | ||||||||||
Interest cost | 154 | 148 | 984 | |||||||||||||
Expected return on plan assets | (214 | ) | (247 | ) | (1,072 | ) | ||||||||||
Amortization of losses | 2 | 4 | 620 | |||||||||||||
Other | — | 160 | — | |||||||||||||
Net periodic pension cost | 348 | 669 | 1,319 | |||||||||||||
Settlement loss | — | 87 | 8,937 | |||||||||||||
Total pension cost | $ | 348 | $ | 756 | $ | 10,256 | ||||||||||
Other changes in Plan assets and benefit obligations recognized in other comprehensive loss as of September 30, 2014 and 2013 is as follows (in thousands): | ||||||||||||||||
September 30, | ||||||||||||||||
2014 | 2013 | |||||||||||||||
Net loss (gain) | $ | 961 | $ | (791 | ) | |||||||||||
Amortization of net loss | (2 | ) | (3 | ) | ||||||||||||
Curtailment loss | — | (675 | ) | |||||||||||||
Settlement loss | — | (87 | ) | |||||||||||||
Total recognized in other comprehensive income (loss) | 959 | (1,556 | ) | |||||||||||||
Total recognized in net periodic pension cost and other comprehensive income (loss) | $ | 1,307 | $ | (887 | ) | |||||||||||
Weighted-average assumptions used to determine the projected benefit obligation for the fiscal years ended September 30, 2014, 2013 and 2012 are as follows: | ||||||||||||||||
Year Ended September 30, | ||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||
Discount rate | 1.55 | % | 2.15 | % | 3.51 | % | ||||||||||
Expected return on plan assets | 2.18 | % | 2.17 | % | 2.18 | % | ||||||||||
Expected rate of compensation increases | 1.87 | % | 1.89 | % | 1.84 | % | ||||||||||
In selecting the appropriate discount rate 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 asset allocation of the Plans. | ||||||||||||||||
The Company bases its determination of pension expense or 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 for this purpose are 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. As of September 30, 2014, under the Plans, the Company had cumulative investment losses of approximately $0.8 million, which remain to be recognized in the calculation of the market-related value of assets. The Company also had cumulative other actuarial gains of $0.3 million at September 30, 2014, which are amortized into net periodic benefit costs over the average remaining service period of active participants in the Plans. | ||||||||||||||||
Plan Assets | ||||||||||||||||
The fair value of plan assets for the Switzerland Plan and Taiwan Plan were $5.6 million and $0.5 million, respectively, at September 30, 2014. As is customary with Swiss pension plans, the assets are invested in a collective fund with multiple employers through a Swiss insurance company. The Company does not have any rights to the assets of this Plan. Investment holdings are primarily in highly rated debt securities. The assets of the Taiwan Plan are invested with a trustee that has been selected by the Taiwan government. The Company has no investment authority over the assets of either the Switzerland Plan or the Taiwan Plan. The asset allocation of the plan assets at September 30, 2014 was as follows: | ||||||||||||||||
Debt securities | 73 | % | ||||||||||||||
Equity securities | 6 | |||||||||||||||
Cash | 2 | |||||||||||||||
Other | 19 | |||||||||||||||
100 | % | |||||||||||||||
The fair value of pension assets by asset category and by level at September 30, 2014 were as follows (in thousands): | ||||||||||||||||
As of September 30, 2014 | ||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | |||||||||||||
Swiss Life collective foundation | $ | 5,608 | $ | — | $ | 5,608 | $ | — | ||||||||
Taiwan collective trust | 523 | — | 523 | — | ||||||||||||
Total | $ | 6,131 | $ | — | $ | 6,131 | $ | — | ||||||||
See "Note 6. Fair Value Measurements" for a description of the levels of inputs used to determine fair value measurements. | ||||||||||||||||
Expected benefit payments over the next ten fiscal years are anticipated to be paid as follows (in thousands): | ||||||||||||||||
2015 | $ | 231 | ||||||||||||||
2016 | 54 | |||||||||||||||
2017 | 55 | |||||||||||||||
2018 | 56 | |||||||||||||||
2019 | 57 | |||||||||||||||
2020-2024 | 664 | |||||||||||||||
The Company expects to contribute $0.3 million to its plans in fiscal year 2015 in order to meet the minimum funding targets. | ||||||||||||||||
Defined Contribution Plans | ||||||||||||||||
The Company sponsors defined contribution plans that meet the requirements of Section 401(k) of the Internal Revenue Code. All United States employees of the Company who meet minimum age and service requirements are eligible to participate in the plan. The plan allows employees to invest, on a pre-tax basis, a percentage of their annual salary subject to statutory limitations. The Company’s contribution expense for this United States defined contribution plan was $3.5 million, $3.2 million and $3.1 million for the fiscal years ended September 30, 2014, 2013 and 2012, respectively. |
Stockholders_Equity
Stockholders' Equity | 12 Months Ended | ||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||
Equity [Abstract] | ' | ||||||||||||||||||||
Stockholders' Equity | ' | ||||||||||||||||||||
Stockholders’ Equity | |||||||||||||||||||||
Preferred Stock | |||||||||||||||||||||
At September 30, 2014 and 2013 there were one million shares of preferred stock, $0.01 par value per share authorized; no shares were issued or outstanding at September 30, 2014 or 2013. Preferred stock 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. | |||||||||||||||||||||
Accumulated Other Comprehensive Income | |||||||||||||||||||||
The following is a summary of the components of accumulated other comprehensive income, net of tax, at September 30, 2014, 2013 and 2012 (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, 2011 | $ | 26,917 | $ | (192 | ) | $ | — | $ | (9,401 | ) | $ | 17,324 | |||||||||
Other comprehensive income before reclassifications | (2,406 | ) | 408 | — | (606 | ) | (2,604 | ) | |||||||||||||
Amounts reclassified from accumulated other comprehensive income | — | (15 | ) | — | 8,937 | 8,922 | |||||||||||||||
Balance at September 30, 2012 | 24,511 | 201 | — | (1,070 | ) | 23,642 | |||||||||||||||
Other comprehensive 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 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 | |||||||||
Reclassifications from accumulated other comprehensive income, or AOCI, to net income related to available-for-sale securities result from sale of these securities as described in “Note 5. Marketable Securities.” Reclassifications from AOCI to net income related to cash flow hedges result from the settlement of this instrument as described in “Note 12. Derivative Instruments.” Reclassifications from AOCI to net income related to the Company’s pension plans relate to settlement losses under defined benefit pension plans as described in “Note 14. Postretirement Benefits.” | |||||||||||||||||||||
Noncontrolling Interests | |||||||||||||||||||||
Noncontrolling interests represents the minority shareholders’ proportionate share of the equity in the Company’s majority owned subsidiary, Brooks Automation Asia, Ltd. (“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 were recognized related to the additional interest acquired. As of the date of acquisition, 100% of BAA’s pre-tax income has been reflected in the Company’s results of operations. The increase in the Company's proportional share of BAA's results were not material to the Company's results of operations for the fiscal year ended September 30, 2014. In addition, the Company will no longer report a noncontrolling interest in its Consolidated Balance Sheets. The payment to the minority shareholders has been classified as a financing activity on the Consolidated Statements of Cash Flows. |
Stock_Plans
Stock Plans | 12 Months Ended | ||||||||||||
Sep. 30, 2014 | |||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||
Stock Plans | ' | ||||||||||||
Stock Plans | |||||||||||||
Amended and Restated 2000 Equity Incentive Plan | |||||||||||||
The purposes of the Amended and Restated 2000 Equity Incentive Plan (the “2000 Plan”), are to attract and retain employees and to provide an incentive for them to assist the Company to achieve long-range performance goals and to enable them to participate in the long-term growth of the Company. Under the 2000 Plan the Company may grant (i) options intended to qualify as incentive stock options under Section 422 of the Internal Revenue Code, and (ii) options that are not qualified as incentive stock options (“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 under the 2000 Plan generally vest over four years and expire within ten years from the date of grant. A total of 9,000,000 shares of common stock was reserved for issuance under the 2000 Plan. As of September 30, 2014, no options are outstanding and 2,486,983 shares remain available for grant under the 2000 Plan. | |||||||||||||
Stock Options of Acquired Companies | |||||||||||||
In connection with the acquisition of Helix Technology Corporation ("Helix") on October 26, 2005, the Company assumed the outstanding options of multiple stock option plans that were adopted by 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. A total of 5,550 options are outstanding and no shares remain available for grant under the Helix plans as of September 30, 2014. | |||||||||||||
Stock Option Activity | |||||||||||||
The following table summarizes stock option activity for all the above plans for the fiscal year ended September 30, 2014: | |||||||||||||
2014 | |||||||||||||
Shares | Weighted- | Weighted | Aggregate | ||||||||||
Average | Average Price | Intrinsic Value | |||||||||||
Remaining | (In Thousands) | ||||||||||||
Contractual Term | |||||||||||||
Options outstanding at September 30, 2013 | 15,540 | $ | 15.86 | ||||||||||
Forfeited/expired | (9,990 | ) | $ | 17.34 | |||||||||
Options outstanding at September 30, 2014 | 5,550 | 0.3 years | $ | 13.2 | $ | — | |||||||
Vested at September 30, 2014 | 5,550 | 0.3 years | $ | 13.2 | $ | — | |||||||
Options exercisable at September 30, 2014 | 5,550 | 0.3 years | $ | 13.2 | $ | — | |||||||
Shares available for future grant | 2,486,983 | ||||||||||||
Based on the Company’s closing stock price of $10.51 as of September 30, 2014, there was no intrinsic value to the option holders. | |||||||||||||
No stock options were granted in fiscal years 2014, 2013 or 2012. The total intrinsic value of options exercised during fiscal years 2014, 2013 or 2012 was $0, $19,000 and $56,000, respectively. The total cash received from participants as a result of stock option exercises during fiscal years 2014, 2013 or 2012 was $0, $67,000 and $103,000, respectively. | |||||||||||||
As of September 30, 2014, there was no future compensation cost related to stock options as all outstanding stock options have vested. | |||||||||||||
The Company settles employee stock option exercises with newly issued common shares. | |||||||||||||
Restricted Stock Activity | |||||||||||||
A summary of the status of the Company’s restricted stock as of September 30, 2014 and changes during the fiscal year is as follows: | |||||||||||||
2014 | |||||||||||||
Shares | Weighted | ||||||||||||
Average | |||||||||||||
Grant-Date | |||||||||||||
Fair Value | |||||||||||||
Outstanding at September 30, 2013 | 2,915,413 | $ | 11.25 | ||||||||||
Awards granted | 1,517,057 | $ | 9.49 | ||||||||||
Awards vested | (592,857 | ) | $ | 9.48 | |||||||||
Awards canceled | (1,113,128 | ) | $ | 10.28 | |||||||||
Outstanding at September 30, 2014 | 2,726,485 | $ | 11.05 | ||||||||||
The weighted average grant date fair value of restricted stock granted during fiscal years 2013 and 2012 was $9.33 and $11.80 per share, respectively. The fair value of restricted stock units vested during fiscal years 2014, 2013 and 2012 was $5.6 million, $7.3 million and $5.6 million, respectively. | |||||||||||||
As of September 30, 2014, the unrecognized compensation cost related to restricted stock units that is expected to vest is $17.2 million and will be recognized over an estimated weighted average amortization period of 1.7 years. | |||||||||||||
The Company grants restricted stock units that vest over a required service period and awards where vesting is dependent upon achieving certain operating performance goals. Restricted stock units granted with performance goals also have a required service period. The following table reflects restricted stock units granted, including awards related to the discontinued operation, during the years ended September 30, 2014, 2013 and 2012: | |||||||||||||
Total Units | Time-Based Units | Performance-Based Units | |||||||||||
Year ended September 30, 2014 | 1,517,057 | 678,307 | 838,750 | ||||||||||
Year ended September 30, 2013 | 1,471,977 | 794,602 | 677,375 | ||||||||||
Year ended September 30, 2012 | 1,887,419 | 767,169 | 1,120,250 | ||||||||||
Units granted with a required service period typically have three year vesting schedules in which one-third vest at the first anniversary of the date of grant, one-third vest at the second anniversary of the date of grant and one-third vest at the third anniversary of the date of grant, except that time-based awards granted to the Company’s Board of Directors vest immediately. Performance-based units have performance criteria established by the Company’s Human Resources and Compensation Committee and the Board of Directors. | |||||||||||||
The criteria in performance-based awards are weighted and have minimum performance thresholds, which if not met result in no vesting as to that metric’s weighted percentage. Performance-based awards granted in fiscal year 2014 and 2013 included provisions where participants could achieve up to 200% of the targeted number of performance-based awards if the Company’s performance exceeds the target thresholds. The measurement of achievement against performance-based units granted in fiscal year 2014 and 2013 occurred at the end of the fiscal year in which the units were granted. The performance-based units granted in fiscal year 2012 had performance criteria to be measured over a three year period ending on September 30, 2014. The service requirements of the performance-based units are three years from date of grant. Performance-based units granted in fiscal 2014 and 2013 have three year vesting schedules in which one-half vest at the second anniversary of the date of grant and one-half vest at the third anniversary of the date of grant. The performance-based units granted in fiscal year 2012 had a three year vesting schedule in which all of the awards vested at the third anniversary of the date of grant. | |||||||||||||
In fiscal year 2014, the Company exceeded the financial objectives associated with the performance-based awards granted in fiscal year 2014. Under the terms of the award, a total of 1,297,546 shares could vest, subject to award holders satisfying the service requirement, which is an increase of 458,796 shares over of the target grant. The Company performed below target levels relative to the criteria outlined in awards granted in fiscal years 2013 and 2012. As a result, 460,615 shares of performance-based awards granted in fiscal year 2013 could vest, subject to award holders satisfying the service requirement, which is a decrease of 216,760 shares under the target grant. None of the performance-based awards granted in fiscal year 2012 will vest. | |||||||||||||
1995 Employee Stock Purchase Plan | |||||||||||||
On February 22, 1996, the stockholders approved the 1995 Employee Stock Purchase Plan (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 price per share of 85% of the lower of the fair market value price per share 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, 2014, 3,350,645 shares of common stock have been purchased under the 1995 Plan and 649,355 shares remain available for purchase. |
Restructuring_and_Other_Charge
Restructuring and Other Charges | 12 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Restructuring and Related Activities [Abstract] | ' | |||||||||||||||
Restructuring and Other Charges | ' | |||||||||||||||
Restructuring and Other Charges | ||||||||||||||||
Fiscal Year 2014 Activities | ||||||||||||||||
The Company recorded restructuring charges of $6.3 million for fiscal year 2014. These charges relate primarily to the Company's decision to discontinue certain product lines in the Brooks Life Science Systems and Brooks Product Solutions segments, the transition of manufacturing certain of the Company’s line of Polycold cryochillers and compressors to a third party contract manufacturer and other global programs designed to improve the Company’s cost structure. | ||||||||||||||||
Total severance charges related to the outsourcing of the Polycold manufacturing operation were $1.2 million, consisting 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. | ||||||||||||||||
Restructuring costs recorded in fiscal year 2014 consist of $5.7 million of severance costs and $0.6 million of facility related costs. Severance costs incurred in fiscal year 2014 relate to workforce reductions of approximately 70 positions. The Brooks Product Solutions segment incurred a severance charge of $2.4 million; the Brooks Global Services segment incurred a severance charge of $0.4 million; the Brooks Life Science Systems segment incurred severance charges of $1.6 million and $1.3 million was related to the reduction of positions in corporate and sales. Facility-related costs of $0.6 million consist of lease payments and fixed asset write-offs associated with our efforts to reduce the space used in our 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 Consolidated Statements of Operations. | ||||||||||||||||
Fiscal Year 2013 Activities | ||||||||||||||||
The Company recorded a restructuring charge of $6.4 million for fiscal year 2013. These charges related primarily to workforce reductions implemented to consolidate the operations of Crossing and the Company, to transition internal manufacturing of the Polycold product line to a third party contract manufacturer and other programs designed to improve the Company’s cost structure. Restructuring charges also included facility related costs incurred in connection with the consolidation of Crossing facilities with the Company’s facilities. | ||||||||||||||||
Restructuring costs 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 related to the workforce reduction of approximately 200 positions. The Brooks Product Solutions segment incurred a severance charge of $2.5 million; the Brooks Global Services segment incurred a severance charge of $1.1 million; and the Company incurred $1.5 million related to the reduction of corporate positions. The Brooks Life Science Systems segment incurred severance charges of $0.4 million, mainly due to the consolidation of administrative functions. Restructuring and other charges recorded in fiscal year 2013 also included $0.1 million related to a partial settlement of a defined benefit pension plan that covered substantially all of the Company’s Swiss employees. | ||||||||||||||||
Fiscal Year 2012 Activities | ||||||||||||||||
The Company recorded a restructuring charge of $3.2 million for fiscal year 2012. These charges were related primarily to a series of workforce reductions implemented to improve the Company’s cost structure by eliminating 118 employees. The Brooks Product Solutions segment incurred a severance charge of $1.2 million; the Brooks Global Services segment incurred a severance charge of $1.0 million; and the Company incurred $0.7 million to reduce corporate support positions. The Brooks Life Science Systems segment incurred severance charges of $0.3 million to eliminate 14 positions, mainly due to the consolidation of administrative functions. | ||||||||||||||||
The activity related to the Company’s restructuring and other charges, excluding amounts related to the discontinued operations, for the fiscal years ended September 30, 2014, 2013 and 2012 are summarized below (in thousands): | ||||||||||||||||
Fiscal Year 2014 Activity | ||||||||||||||||
Balance | Expense | Utilization | Balance | |||||||||||||
September 30, | September 30, | |||||||||||||||
2013 | 2014 | |||||||||||||||
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 | Expense | Utilization | Balance | |||||||||||||
September 30, | September 30, | |||||||||||||||
2012 | 2013 | |||||||||||||||
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 | ||||||||
Fiscal Year 2012 Activity | ||||||||||||||||
Balance | Expense | Utilization | Balance | |||||||||||||
September 30, | September 30, | |||||||||||||||
2011 | 2012 | |||||||||||||||
Workforce-related termination benefits | $ | 293 | $ | 3,153 | $ | (1,348 | ) | $ | 2,098 | |||||||
Accrued restructuring costs of $3.5 million as of September 30, 2014 are expected to be paid during fiscal year 2015. |
Segment_and_Geographic_Informa
Segment and Geographic Information | 12 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||
Segment and Geographic Information | ' | |||||||||||||||
Segment and Geographic Information | ||||||||||||||||
The Company reports financial results in three segments: Brooks Product Solutions, Brooks Global Services and 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 base equipment installed by 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 bio sample storage, equipment for sample preparation and handling, consumables, and 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, and allocates resources to, each of its segments based on their revenues, 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. Other unallocated corporate expenses, amortization of acquired intangible assets (excluding completed technology) and restructuring and other charges, pension settlement and in-process research and development 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, segment headcount, or an analysis of the segments that benefit 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. | ||||||||||||||||
Financial information for the Company’s business segments, excluding amounts related to the discontinued operations, for the fiscal years ended September 30, 2014, 2013 and 2012 are as follows (in thousands): | ||||||||||||||||
Brooks | Brooks | Brooks | Total | |||||||||||||
Product | Global | Life Science | ||||||||||||||
Solutions | Services | Systems | ||||||||||||||
Year ended September 30, 2014 | ||||||||||||||||
Revenue | ||||||||||||||||
Product | $ | 325,639 | $ | 14,978 | $ | 46,415 | $ | 387,032 | ||||||||
Services | — | 79,083 | 16,733 | 95,816 | ||||||||||||
$ | 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 | ||||||||
Year ended September 30, 2013 | ||||||||||||||||
Revenue | ||||||||||||||||
Product | $ | 290,523 | $ | 13,152 | $ | 31,336 | $ | 335,011 | ||||||||
Services | — | 75,477 | 11,952 | 87,429 | ||||||||||||
$ | 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 | ||||||||
Year ended September 30, 2012 | ||||||||||||||||
Revenue | ||||||||||||||||
Product | $ | 351,432 | $ | 11,324 | $ | 39,749 | $ | 402,505 | ||||||||
Services | — | 73,616 | 12,862 | 86,478 | ||||||||||||
$ | 351,432 | $ | 84,940 | $ | 52,611 | $ | 488,983 | |||||||||
Gross profit | $ | 113,945 | $ | 25,093 | $ | 20,415 | $ | 159,453 | ||||||||
Segment operating income (loss) | $ | 13,330 | $ | 8,898 | $ | (3,139 | ) | $ | 19,089 | |||||||
Depreciation expense | $ | 8,600 | $ | 2,344 | $ | 2,111 | $ | 13,055 | ||||||||
A reconciliation of the Company’s reportable segment operating income (loss) and segment assets to the corresponding consolidated amounts as of and for the fiscal years ended September 30, 2014, 2013 and 2012 is as follows (in thousands): | ||||||||||||||||
As of and for the Year Ended | ||||||||||||||||
September 30, | ||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||
Segment operating income (loss) | $ | 14,856 | $ | (1,672 | ) | $ | 19,089 | |||||||||
Other unallocated corporate expenses (1) | 5,096 | 3,002 | (1,833 | ) | ||||||||||||
Amortization of acquired intangible assets | 6,170 | 5,694 | 4,164 | |||||||||||||
Impairment of acquired intangible assets | — | 50 | — | |||||||||||||
Restructuring and other charges | 6,289 | 6,380 | 3,153 | |||||||||||||
Pension settlement | — | — | 8,937 | |||||||||||||
In-process research and development | — | — | 3,026 | |||||||||||||
Total operating income (loss) | $ | (2,699 | ) | $ | (16,798 | ) | $ | 1,642 | ||||||||
Segment assets | $ | 415,120 | $ | 391,742 | ||||||||||||
Cash, cash equivalents, restricted cash and marketable securities | 245,456 | 173,539 | ||||||||||||||
Deferred tax assets | 86,572 | 115,985 | ||||||||||||||
Assets held for sale | — | 27,778 | ||||||||||||||
Equity method investments | 28,944 | 25,687 | ||||||||||||||
Other unallocated corporate net assets | 1,946 | 2,032 | ||||||||||||||
Total assets | $ | 778,038 | $ | 736,763 | ||||||||||||
______________ | ||||||||||||||||
-1 | Other unallocated corporate expenses for the fiscal year ended September 30, 2012 includes a credit of $3.3 million related to insurance proceeds received as reimbursement of litigation costs previously incurred. | |||||||||||||||
Net revenue based upon the source of the order by geographic area for the fiscal years ended September 30, 2014, 2013 and 2012 are as follows (in thousands): | ||||||||||||||||
Year Ended September 30, | ||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||
North America | $ | 174,343 | $ | 177,779 | $ | 214,060 | ||||||||||
Asia/Pacific | 198,695 | 154,358 | 183,406 | |||||||||||||
Europe | 109,810 | 90,303 | 91,517 | |||||||||||||
$ | 482,848 | $ | 422,440 | $ | 488,983 | |||||||||||
Property, plant and equipment by geographic area as of September 30, 2014 and 2013 are as follows (in thousands): | ||||||||||||||||
September 30, | ||||||||||||||||
2014 | 2013 | |||||||||||||||
North America | $ | 40,232 | $ | 38,505 | ||||||||||||
Asia/Pacific | 870 | 1,646 | ||||||||||||||
Europe | 9,081 | 7,355 | ||||||||||||||
$ | 50,183 | $ | 47,506 | |||||||||||||
Significant_Customers
Significant Customers | 12 Months Ended |
Sep. 30, 2014 | |
Risks and Uncertainties [Abstract] | ' |
Significant Customers | ' |
Significant Customers | |
The Company had one customer that accounted for more than 10% of revenue, at 11%, 11%, and 13%, in the fiscal years ended September 30, 2014, 2013 and 2012, respectively. The Company did not have any customers that accounted for more than 10% of its accounts receivable balance at September 30, 2014 or 2013. | |
For purposes of determining the percentage of revenue from any original equipment manufacturer ("OEM") customer, the Company does not include revenue from products sold to a contract manufacturer customer which in turn sells to the OEM. 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. |
Other_Balance_Sheet_Informatio
Other Balance Sheet Information | 12 Months Ended | ||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | ||||||||||||||||||||
Other Balance Sheet Information | ' | ||||||||||||||||||||
Other Balance Sheet Information | |||||||||||||||||||||
The following is a summary of accounts receivable at September 30, 2014 and 2013 (in thousands): | |||||||||||||||||||||
September 30, | |||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
Accounts receivable | $ | 81,270 | $ | 78,460 | |||||||||||||||||
Less allowance for doubtful accounts | (1,031 | ) | (863 | ) | |||||||||||||||||
Less allowance for sales returns | (133 | ) | (114 | ) | |||||||||||||||||
$ | 80,106 | $ | 77,483 | ||||||||||||||||||
The allowance for doubtful accounts activity for the fiscal years ended September 30, 2014, 2013 and 2012 was as follows (in thousands): | |||||||||||||||||||||
Description | Balance at | Provisions | Reversals of | Write-offs and | Balance at | ||||||||||||||||
Beginning of | Bad Debt | Adjustments | End of | ||||||||||||||||||
Period | Expense | Period | |||||||||||||||||||
2014 Allowance for doubtful accounts | $ | 863 | $ | 438 | $ | (315 | ) | $ | 45 | $ | 1,031 | ||||||||||
2013 Allowance for doubtful accounts | 851 | 48 | (143 | ) | 107 | 863 | |||||||||||||||
2012 Allowance for doubtful accounts | 617 | 367 | (130 | ) | (3 | ) | 851 | ||||||||||||||
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, 2014 and 2013 was as follows (in thousands): | |||||||||||||||||||||
Description | Balance at | Provisions | Write-offs and | Balance at | |||||||||||||||||
Beginning of | Adjustments | End of | |||||||||||||||||||
Period | Period | ||||||||||||||||||||
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, 2014 and 2013, excluding amounts related to discontinued operations (in thousands): | |||||||||||||||||||||
September 30, | |||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
Inventories | |||||||||||||||||||||
Raw materials and purchased parts | $ | 57,250 | $ | 57,678 | |||||||||||||||||
Work-in-process | 20,068 | 19,991 | |||||||||||||||||||
Finished goods | 16,249 | 16,742 | |||||||||||||||||||
$ | 93,567 | $ | 94,411 | ||||||||||||||||||
Reserves for excess and obsolete inventory were $26.0 million and $24.2 million, excluding amounts related to discontinued operations, at September 30, 2014 and 2013, respectively. The Company recorded charges to reserves for excess and obsolete inventory of $6.9 million, $5.4 million and $4.3 million in fiscal years 2014, 2013 and 2012, respectively. The Company reduced the reserves for excess and obsolete inventory by $5.1 million, $4.3 million and $5.8 million, in fiscal years 2014, 2013 and 2012, respectively, for disposals of inventory. | |||||||||||||||||||||
The Company provides for the estimated cost of product warranties, primarily from historical information, at the time product revenue is recognized and retrofit accruals 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. Product warranty and retrofit activity on a gross basis for the fiscal years ended September 30, 2014, 2013 and 2012, excluding amounts related to discontinued operations, is as follows (in thousands): | |||||||||||||||||||||
Balance at September 30, 2011 | $ | 7,438 | |||||||||||||||||||
Adjustments for acquisitions and divestitures | 7 | ||||||||||||||||||||
Accruals for warranties during the year | 13,551 | ||||||||||||||||||||
Costs incurred during the year | (13,750 | ) | |||||||||||||||||||
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 | |||||||||||||||||||
Sale_of_Building_and_Land
Sale of Building and Land | 12 Months Ended | |||
Sep. 30, 2014 | ||||
Real Estate [Abstract] | ' | |||
Sale of Building and Land | ' | |||
Sale of Building and Land | ||||
On September 27, 2013, the Company completed a Purchase and Sale Agreement ("Agreement") to sell a portion of its Chelmsford, Massachusetts campus to a real estate investment trust for $11.3 million. The property sold was an underutilized building and the related land. The components of the gain on the sale is as follows (in thousands): | ||||
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 December 2012, the Company entered into an agreement to lease this property to an unrelated third party. 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. Direct transaction costs, consisting of broker commissions and legal fees were also included in the determination of the gain on the sale. | ||||
In addition, in fiscal year 2013, the Company sold certain buildings in Oberdiessbach, Switzerland for total proceeds of $3.2 million. The sale of these assets resulted in a gain of $0.2 million. | ||||
Gains related to the sale of these buildings are recorded in the Company's Consolidated Statements of Operations as a component of other income, net. |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | |||
Sep. 30, 2014 | ||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||
Commitments and Contingencies | ' | |||
Commitments and Contingencies | ||||
Capital Lease Obligation | ||||
In March 2014, the Company exercised an option to renew the lease of a building and the related land on the Company's Chelmsford, Massachusetts campus. The Company has leased this building since 2002. By exercising this option, the Company has also contracted to purchase the building at the end of the lease period. The assets acquired under the lease were recorded at the net present value of the minimum lease payments which was then allocated to the building and the land based on their relative fair values. The cost of the building and the land under the capital lease are included in the Consolidated Balance Sheets as property, plant and equipment at $6.4 million and $2.1 million, respectively. 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 lease was $0.1 million at September 30, 2014. | ||||
The obligation related to the capital lease is recorded as a short-term or long-term obligation in the Consolidated Balance Sheets depending on when payments are due. The future minimum lease payments required under the capital lease and the present value of the net minimum lease payments, as of September 30, 2014, are as follows (in thousands): | ||||
Year ended September 30, | ||||
2015 | $ | 881 | ||
2016 | 881 | |||
2017 | 881 | |||
2018 | 6,901 | |||
Total minimum lease payments | 9,544 | |||
Less amounts representing interest | 1,246 | |||
Total capital lease obligation | 8,298 | |||
Less current portion of capital lease obligation | 881 | |||
Long-term capital lease obligation | $ | 7,417 | ||
Operating Leases Commitments | ||||
The Company leases manufacturing and office facilities and certain equipment under operating leases that expire through 2019. Rental expense under operating leases, excluding expense recorded as a component of restructuring, for the fiscal years ended September 30, 2014, 2013 and 2012 was $8.2 million, $8.4 million and $4.8 million, respectively. Future minimum lease commitments on non-cancelable operating leases as of September 30, 2014 are as follows (in thousands): | ||||
Year ended September 30, 2015 | $ | 5,140 | ||
2016 | 3,384 | |||
2017 | 1,748 | |||
2018 | 1,401 | |||
2019 | 706 | |||
Thereafter | 93 | |||
$ | 12,472 | |||
The Company is a guarantor on a lease in Mexico that expires in January 2018. As of September 30, 2014, the remaining payments under this lease are approximately $1.4 million. | ||||
Letters of Credit | ||||
At September 30, 2014, the Company had $21.1 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 customers in the event that the product is not delivered or warranty obligations are not fulfilled in compliance with the terms of the contract. While the Company does not anticipate that these obligations will be called, they could be called by the beneficiaries at any time before the expiration date of the particular letter of credit should the Company fail to meet certain contractual requirements. | ||||
Purchase Commitments | ||||
The Company has non-cancelable contracts and purchase orders for inventory of $71.0 million at September 30, 2014. | ||||
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 condition 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 condition or results of operations in particular quarterly or annual periods. |
Subsequent_Events
Subsequent Events | 12 Months Ended |
Sep. 30, 2014 | |
Subsequent Events [Abstract] | ' |
Subsequent Events | ' |
Subsequent Events | |
On October 1, 2014, the Company acquired all of the outstanding stock of FluidX Ltd. (“FluidX”), a UK based provider of biological sample storage tubes and complementary bench-top instruments. The Company agreed to a purchase price of approximately $16.0 million of cash, subject to a working capital adjustment. The acquisition of FluidX provides the Company with the opportunity to enhance its existing capabilities with respect to biobanking solutions in the Life Science Systems segment. | |
On November 5, 2014, the Company’s Board of Directors declared a cash dividend of $0.10 per share payable on December 26, 2014 to common stockholders of record on December 5, 2014. Dividends are declared at the discretion of the Company’s Board of Directors and depend on actual cash from operations, the Company’s financial condition and capital requirements and 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_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Accounting Policies [Abstract] | ' | ||||||||
Principles of Consolidation and Basis of Presentation | ' | ||||||||
Principles of Consolidation and Basis of Presentation | |||||||||
The consolidated financial statements include the accounts of the Company and all majority-owned subsidiaries. All intercompany accounts and transactions are eliminated. Equity investments in which the Company exercises significant influence but does not control and is not the primary beneficiary are accounted for using the equity method of accounting. | |||||||||
Use of Estimates | ' | ||||||||
Use of Estimates | |||||||||
The preparation of financial statements in conformity with generally accepted accounting principles in the United States ("GAAP") 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 and the reported amounts of revenue and expenses during the reporting period. Significant estimates are associated with accounts receivable, inventories, intangible assets other than goodwill, goodwill, long-lived assets, derivative financial instruments, deferred income taxes, warranty obligations, revenue recognized using the percentage of completion method, pension obligations and stock-based compensation expense. Although the Company regularly assesses these estimates, actual results could differ from those estimates. Changes in estimates are recorded in the period in which they become known. | |||||||||
Foreign Currency Translation | ' | ||||||||
Foreign Currency Translation | |||||||||
Some transactions of the Company and its subsidiaries are made in currencies different from their functional currency. Foreign currency gains (losses) on these transactions or balances are recorded in “Other income, net” when incurred. Net foreign currency transaction losses totaled $1.2 million, $0.9 million and $0.4 million for the fiscal years ended September 30, 2014, 2013 and 2012, respectively. For non-U.S. subsidiaries, assets and liabilities are translated at period-end exchange rates, and statements of operations items are translated at the average exchange rates for the period. The local currency is considered to be the functional currency for all of the Company's foreign subsidiaries and, accordingly, translation adjustments are reported in “Accumulated other comprehensive income.” Foreign currency translation adjustments are one of the components of comprehensive income (loss). | |||||||||
Derivative Financial Instruments | ' | ||||||||
Derivative Financial Instruments | |||||||||
All derivatives, whether designated in a hedging relationship or not, are recorded on 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 further, on the type of hedging relationship. For those derivative instruments that are designated and qualify as hedging instruments, the Company must designate the hedging instrument, based on the exposure being hedged, as a fair value hedge, cash flow hedge or a hedge of a net investment in a foreign operation. 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 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 are 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 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 and losses consistent with the classification of the underlying risk. | |||||||||
Cash and Cash Equivalents | ' | ||||||||
Cash and Cash Equivalents | |||||||||
Cash and cash equivalents include cash and highly liquid investments with original maturities of three months or less. At September 30, 2014 and 2013, cash equivalents were $6.4 million and $7.8 million, respectively. Cash equivalents are held at cost which approximates fair value due to their short-term maturities and varying interest rates. | |||||||||
Concentration of Credit Risk | ' | ||||||||
Concentration of Credit Risk | |||||||||
Financial instruments, which potentially subject the Company to concentrations of credit risk, are 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 required for use in operations in high credit quality securities based on the Company's investment policy. The Company's investment policy provides guidelines and limits regarding credit quality, investment concentration, investment type, and maturity that the Company believes will provide liquidity and reduce risk of loss of capital. The Company’s customers are concentrated in the semiconductor industry, and relatively few customers account for a significant portion of the Company’s revenue. 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 account for approximately 37%, 40% and 45% of revenue for the fiscal years ended September 30, 2014, 2013 and 2012, respectively. One of the Company's customers accounted for 11% of revenue for the fiscal year ended September 30, 2014. At September 30, 2014, no single customer represented 10% of the Company’s accounts receivable. | |||||||||
Fair Value of Financial Instruments | ' | ||||||||
Fair Value of Financial Instruments | |||||||||
The Company's financial instruments include cash and cash equivalents, restricted cash, marketable securities, derivative instruments, accounts receivable, note receivable and accounts payable. In the case of marketable securities and derivative instruments, measurement is based on quoted market prices for identical or similar securities or instruments which represent fair value. The carrying amounts of other financial instruments reported in the Consolidated Balance Sheets approximate their fair value because of their short-term nature. | |||||||||
Accounts Receivable and Allowance for Doubtful Accounts | ' | ||||||||
Accounts Receivable and Allowance for Doubtful Accounts and Sales Returns | |||||||||
Trade accounts receivable are recorded at the invoiced amount and do not bear interest. The allowance for doubtful accounts is the Company's best estimate of the amount of probable credit losses in its existing accounts receivable. The Company determines the allowance based on a number of factors, including an evaluation of customer credit worthiness, the age of the outstanding receivable, economic trends and historical experience. The Company reviews its allowance for doubtful accounts on a quarterly basis and changes in estimates are reflected in the period in which they become known. Accounts receivable balances are written-off against the allowance for doubtful accounts when the Company determines that the receivable is not recoverable. Provisions for doubtful accounts are recorded in "Selling, general and administrative expenses" in the Consolidated Statements of Operations. The allowance for sales returns is the Company's best estimate of probable returns from its customers. 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 being determined using a standard costing system which approximates cost based on a first-in, first-out method. The Company provides inventory 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 less accumulated depreciation. Depreciation is computed using the straight-line method. Depreciable lives are summarized below: | |||||||||
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 term of the respective leases. Equipment used for demonstrations to customers is included in machinery and equipment and is depreciated over its estimated useful life. Repair and maintenance costs are expensed as incurred. | |||||||||
The Company has developed software for internal use. Internal and external labor costs incurred during the application development stage of a project are capitalized. Costs incurred prior to application development and post implementation are expensed as incurred. Training and data conversion costs are also expensed as incurred. | |||||||||
When an asset is retired, the cost of the asset disposed of and the related accumulated depreciation are removed from the accounts, and any resulting gain or loss is included in the determination of operating income (loss). | |||||||||
As a result of the Company's acquisitions, the Company has identified finite-lived intangible assets other than goodwill. Finite-lived intangible assets are valued based on estimates of future cash flows and amortized over their estimated useful life using 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. When the Company determines that indicators of potential impairment exist, the next step of the impairment test requires that the potentially impaired long-lived asset group is tested for recoverability. The test for recoverability compares the undiscounted future cash flows of the long-lived asset group 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 values of the long-lived asset group exceed the future cash flows, the assets are considered to be potentially impaired. The next step in the impairment process is to determine the fair value of the individual net assets within the long-lived asset group. If the aggregate fair values of the individual net assets of the group are less than their carrying values, an impairment is recorded equal to the excess of the aggregate carrying value of the group over the aggregate fair value. The loss is allocated to each asset within the group based on their relative carrying values, with no asset reduced below its fair value. | |||||||||
The amortizable lives of intangible assets, including those identified as a result of purchase accounting, are summarized as follows: | |||||||||
Patents | 7 - 15 years | ||||||||
Completed technology | 5 - 10 years | ||||||||
Customer relationships | 5 - 13 years | ||||||||
Goodwill | ' | ||||||||
Goodwill | |||||||||
Goodwill represents the excess of purchase price over the fair value of net tangible and identifiable intangible assets of the businesses the Company acquired. The Company performs an annual impairment test of its goodwill on September 30 of each fiscal year unless interim indicators of impairment exist. Management's judgments are based on market and operational conditions at the time of the evaluation and can include management's best estimate of future business activity, which in turn drives estimates of future cash flows from these assets and the reporting units with 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 value. Future business conditions and/or activity could differ materially from the projections made by management causing the need for additional adjustments and impairment charges. | |||||||||
The testing of goodwill for impairment is performed at a level referred to as a reporting unit. A reporting unit is either the “operating segment level” or one level below, which is referred to as a “component.” The level at which the impairment test is performed requires an assessment as to whether the operations below the operating segment constitute a self-sustaining business, in which case testing is generally required to be performed at this level. The Company currently has four reporting units that have goodwill, including two components that are part of the Brooks Product Solutions operating segment, one reporting unit that is the Brooks Global Services operating segment and one reporting unit that is the Brooks Life Science Systems operating segment. | |||||||||
The Company determines the fair value of its reporting units using an Income Approach, specifically the Discounted Cash Flow Method (“DCF Method”). The DCF Method includes future cash flow projections, which are discounted to present value, and an estimate of terminal values, which are also discounted to present value. Terminal values represent the present value an investor would pay today for the rights to the cash flows of the business for the fiscal years subsequent to the discrete cash flow projection period. The Company considers the DCF Method to be the most appropriate valuation indicator as the DCF analyses are based on management's long-term financial projections. Given the dynamic nature of the cyclical semiconductor equipment market, management's projections as of the valuation date are considered more objective than comparisons to market metrics for peer companies, which fluctuate over the cycle. However, the Company also uses market-based valuation techniques to test the reasonableness of the reporting unit fair values determined by the DCF Method and compares the aggregate fair value of its reporting units plus its net corporate assets to its overall market capitalization. | |||||||||
Goodwill impairment testing is a two-step process. The first step of the goodwill impairment test, used to identify potential impairment, compares the fair value of each reporting unit to its respective carrying amount, including goodwill. 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 the fair value, the second step of the goodwill impairment test must be completed to measure the amount of the impairment loss, if any. The second step compares the implied fair value of goodwill with the carrying value of goodwill. The implied fair value is determined by allocating the fair value of the reporting unit to all of the assets and liabilities of that unit, the excess of the fair value over amounts assigned to its assets and liabilities is the implied fair value of goodwill. The implied fair value of goodwill determined in this step is compared to the carrying value of goodwill. If the implied fair value of goodwill is less than the carrying value of goodwill, an impairment loss is recognized equal to the difference. | |||||||||
Pension Plans | ' | ||||||||
Pension Plans | |||||||||
The cost and obligations of the Company's defined benefit pension plans are calculated using many assumptions to estimate the benefits that the employee earns while working, the amount of which cannot be completely determined until the benefit payments cease. Major assumptions used in the 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 | ' | ||||||||
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 service. 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 the following criteria have been met: persuasive evidence of an arrangement exists with the customer; delivery of the specified products has occurred or services have been rendered; fees are fixed or determinable; and collection of the related receivable is reasonably assured. The arrangements for the sale of certain of the Company's products include customer acceptance provisions. These provisions are included in these arrangements to ensure that the product delivered to the customer meets published specifications. Prior to shipment of its products, the Company typically inspects the product, tests its functionality and documents that it meets the published specifications. In general, the Company's inspections and testing replicate the testing that will be performed at the customer site prior to final acceptance by the customer. In situations where the Company has sufficient history of objectively demonstrating that the acceptance criteria in the arrangement has been achieved prior to delivery, which are typically for products with limited customization, revenue is recognized in advance of final customer acceptance because there are no remaining substantive contingencies. Arrangements with certain customers also 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 that the Company recognizes 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 part of a multiple-element arrangement. When significant on-site customer acceptance provisions are present in the arrangement, or the Company is not able to objectively demonstrate that the acceptance criteria have been met, revenue is recognized upon receiving acceptance from the customer. | |||||||||
Revenue from product sales that include significant customization, which primarily include life science automation systems, is recorded using the percentage of completion method. Under the percentage of completion method revenue is recorded 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 accrued in the same period the Company determines that the loss is probable. If the Company determines that a loss is probable, it estimates the amount of the loss by comparing total estimated contract revenue to the total estimated contract costs. Significant judgment is required when 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 arrangements for products with significant customization that include contractual terms that prohibit use of the percentage of completion method. In some circumstances, percentage of completion is not appropriate, as it relates to the contractual rights of the customer, and in these cases the Company uses the completed-contract method. Under the completed-contract method, income is recognized only when a contract is completed or substantially completed. | |||||||||
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 upon the shipment of the repaired item back to the customer. In instances where the repair or upgrade includes installation, revenue is recognized when the installation is completed. | |||||||||
A portion of the revenue arrangements for the Company's products, particularly in sales of life science automation systems, are multiple element arrangements that can include product, service and other elements. For revenue arrangements with multiple elements, arrangement consideration is allocated to each element based upon their relative selling price using vendor-specific objective evidence (“VSOE”), or third-party evidence (“TPE”) or based upon the relative selling price using estimated selling prices if VSOE or TPE does not exist. The Company relies primarily on estimated selling prices because it generally does not have VSOE or TPE. The Company recognizes revenue on each element of the arrangement in accordance with its policies for revenue recognition. The fair value of any undelivered elements is deferred until the undelivered element is delivered and all other criteria for revenue recognition have been met. | |||||||||
Warranty | ' | ||||||||
Warranty | |||||||||
The Company offers warranties on the sales of certain of its products and records an accrual for estimated future claims. Such accruals are based upon historical experience and management's estimate of the level of future claims. | |||||||||
Research and Development Expenses | ' | ||||||||
Research and Development Expenses | |||||||||
Research and development costs are charged to expense when incurred. | |||||||||
Stock-Based Compensation | ' | ||||||||
Stock-Based Compensation | |||||||||
The Company measures compensation cost for all employee stock awards at fair value on the date of grant and recognizes compensation expense over the service period for awards expected to vest. The fair value of restricted stock 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, and the fair value of stock options is determined using the Black-Scholes valuation model. Such value is recognized as expense ratably over the service period, net of estimated forfeitures. The estimation of stock awards that will ultimately vest requires significant judgment. The Company considers many factors when estimating expected forfeitures, including types of awards, employee class, and historical experience. In addition, for stock-based awards where vesting is dependent upon achieving certain operating performance goals, the Company estimates the likelihood of achieving the performance goals. Actual results, and future changes in estimates, may differ substantially from the Company's current estimates. | |||||||||
Valuation Assumptions for Stock Options and Employee Stock Purchase Plans | ' | ||||||||
Valuation Assumptions for Employee Stock Purchase Plan | |||||||||
The fair value of shares issued under the employee stock purchase plan was 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, 2014, 2013 and 2012: | |||||||||
Year ended September 30, | |||||||||
2014 | 2013 | 2012 | |||||||
Risk-free interest rate | 0.1 | % | 0.1 | % | 0.1 | % | |||
Volatility | 25 | % | 32 | % | 45 | % | |||
Expected life | 6 months | 6 months | 6 months | ||||||
Dividend yield | 3.40% | 3.30% - 3.40% | 2.75% - 3.30% | ||||||
The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of grant for periods corresponding with the expected life of the share; expected volatilities are based on historical volatilities of the Company's common stock; and the expected life represents the weighted average period of time that employee stock purchase plan shares are expected to be purchased. Dividend yields are projected based on the Company's history of dividends declared, and management's intention for future dividend declarations. | |||||||||
Equity Incentive Plans | ' | ||||||||
Equity Incentive Plans | |||||||||
The Company's equity incentive plans are intended to attract and retain employees and to provide an incentive for them to assist the Company to achieve long-range performance goals and to enable them to participate in the long-term growth of the Company. 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 vesting period of 4 years and are exercisable for a period not to exceed 10 years from the date of issuance. Restricted stock awards generally vest over 3 years. At September 30, 2014, a total of 2,486,983 shares were reserved and available for the issuance of awards under the plans. | |||||||||
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 consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective income tax bases, and operating loss and tax credit carryforwards. The Company's consolidated financial statements contain certain deferred tax assets which have arisen primarily as a result of operating losses, as well as other temporary differences between financial and tax accounting. A valuation allowance is established if the likelihood of realization of the deferred tax assets is not considered more likely than not based on an evaluation of positive and negative evidence and the extent to which that evidence is objectively verifiable. Significant management judgment is required in determining the Company's provision for income taxes, 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 on audit, 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 on audit, the second step requires the Company to estimate and measure the tax benefit as the largest amount that is more than 50% likely 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, changes in tax law, new audit activity, and effectively settled issues. Determining whether an uncertain tax position is effectively settled requires judgment. Such a change in recognition or measurement would result in the recognition of a tax benefit or an additional charge to the tax provision. | |||||||||
Earnings Per Share | ' | ||||||||
Earnings Per Share | |||||||||
Basic earnings per share is calculated based on the weighted average number of common shares outstanding during the period. Diluted earnings per share is calculated based on the weighted average number of common shares and dilutive common equivalent shares assumed outstanding during the period. Shares used to compute diluted earnings per share exclude common share equivalents if their inclusion would have an anti-dilutive effect. | |||||||||
Recent Accounting Pronouncements | ' | ||||||||
Recent Accounting Pronouncements | |||||||||
In July 2013, the Financial Accounting Standards Board ("FASB") issued an amendment to the accounting guidance for presentation of unrecognized tax benefits. The prior guidance related to unrecognized tax benefits did not explicitly address financial statement presentation of unrecognized tax benefits when a net operating loss carryforward, a similar tax loss or a tax credit carryforward exists. The amended guidance eliminates the existing diversity in practice in the presentation of unrecognized tax benefits in these instances. Under the amended guidance, an unrecognized tax benefit, or a portion of an unrecognized tax benefit, will be presented in the financial statements as a reduction of a deferred tax asset when an operating loss carryforward, a similar tax loss or a tax credit carryforward exists, with limited exceptions. This amended guidance is effective for fiscal years beginning on or after December 15, 2013. The adoption of this guidance will not have a material impact on the Company's financial position or results of operations. | |||||||||
In April 2014, the FASB issued an amendment to the accounting guidance for reporting discontinued operations. The amended guidance raises the threshold for disposals to qualify as a discontinued operation by requiring a component of an entity that is held for sale, or has been disposed of by sale, to represent a strategic shift that has or will have a major effect on operations and financial results. Under the amended guidance, a strategic shift could include the disposal of a major line of business, a major geographical area, a major equity method investment or other major parts of an entity. In addition, the new guidance allows companies to have significant continuing involvement and continuing cash flows with the discontinued operation. The amended guidance is effective for fiscal years beginning on or after December 15, 2014. Early adoption is permitted but not required for disposals, or classifications as held for sale, that have not been previously reported in financial statements. The Company has elected not to adopt this amended guidance in regard to the Granville-Phillips discontinued operation. | |||||||||
In May 2014, the FASB issued new accounting guidance for reporting revenue recognition. The guidance recognizes 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. The five step process may make it possible that more judgment and estimation will be required within the revenue recognition process than required under existing 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. This guidance is effective for fiscal years beginning after December 15, 2016. Early adoption is not permitted. The Company is evaluating the impact that the adoption of this guidance will have on its financial position and results of operations. |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Tables) | 12 Months Ended | |||||||||||
Sep. 30, 2014 | ||||||||||||
Accounting Policies [Abstract] | ' | |||||||||||
Summary of Depreciable Lives | ' | |||||||||||
Property, plant and equipment are stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method. Depreciable lives are summarized below: | ||||||||||||
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 | ' | |||||||||||
The amortizable lives of intangible assets, including those identified as a result of purchase accounting, are summarized as follows: | ||||||||||||
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, 2014, 2013 and 2012 (in thousands): | ||||||||||||
Year ended September 30, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Restricted stock | $ | 10,469 | $ | 7,112 | $ | 7,949 | ||||||
Employee stock purchase plan | 445 | 496 | 549 | |||||||||
$ | 10,914 | $ | 7,608 | $ | 8,498 | |||||||
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 was 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, 2014, 2013 and 2012: | ||||||||||||
Year ended September 30, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Risk-free interest rate | 0.1 | % | 0.1 | % | 0.1 | % | ||||||
Volatility | 25 | % | 32 | % | 45 | % | ||||||
Expected life | 6 months | 6 months | 6 months | |||||||||
Dividend yield | 3.40% | 3.30% - 3.40% | 2.75% - 3.30% | |||||||||
Discontinued_Operations_Tables
Discontinued Operations (Tables) | 12 Months Ended | |||||||||||
Sep. 30, 2014 | ||||||||||||
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, 2013 and 2012 (in thousands): | ||||||||||||
Year Ended September 30, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Revenue | $ | 18,921 | $ | 28,512 | $ | 30,468 | ||||||
Income from discontinued operations | $ | 4,888 | $ | 7,779 | $ | 7,919 | ||||||
Gain on the sale of the discontinued operations | 56,804 | — | — | |||||||||
Income tax provision | 31,690 | 2,815 | 2,919 | |||||||||
Income from discontinued operations, net of tax | $ | 30,002 | $ | 4,964 | $ | 5,000 | ||||||
The major classes of assets and liabilities of the discontinued operation as of September 30, 2013 is as follows (in thousands): | ||||||||||||
September 30, | ||||||||||||
2013 | ||||||||||||
Inventory | $ | 3,308 | ||||||||||
Property, plant and equipment | 364 | |||||||||||
Goodwill | 24,106 | |||||||||||
Assets held for sale | $ | 27,778 | ||||||||||
Deferred revenue | $ | 43 | ||||||||||
Accrued warranty and retrofit costs | 89 | |||||||||||
Liabilities held for sale | $ | 132 | ||||||||||
Acquisitions_Tables
Acquisitions (Tables) | 12 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
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 and liabilities associated with DMS at their fair values as of the acquisition date. The preliminary amounts recorded were as follows (in thousands): | ||||||||
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 | ||||||
Pro Forma Information | ' | |||||||
The following pro forma summary presents consolidated information of the Company for the fiscal years ended September 30, 2014 and 2013, as if the acquisition of DMS occurred on October 1, 2012 (in thousands): | ||||||||
Year ended September 30, | ||||||||
2014 | 2013 | |||||||
Revenue | $ | 501,951 | $ | 456,588 | ||||
Income (loss) from continuing operations | (4,788 | ) | (10,678 | ) | ||||
Net income (loss) attributable to Brooks Automation, Inc. | 25,053 | (5,779 | ) | |||||
Marketable_Securities_Tables
Marketable Securities (Tables) | 12 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | |||||||||||||||
Summary of Marketable Securities Including Accrued Interest Receivable | ' | |||||||||||||||
The following is a summary of marketable securities (included in short and long-term marketable securities in the Consolidated Balance Sheets), including accrued interest receivable, as of September 30, 2014 and 2013 (in thousands): | ||||||||||||||||
Amortized | Gross | Gross | Fair Value | |||||||||||||
Cost | Unrealized | Unrealized | ||||||||||||||
Gains | Losses | |||||||||||||||
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 | ||||||||
September 30, 2013: | ||||||||||||||||
U.S. Treasury securities and obligations of U.S. government agencies | $ | 19,528 | $ | 6 | $ | (13 | ) | $ | 19,521 | |||||||
Corporate securities | 35,045 | 11 | (47 | ) | 35,009 | |||||||||||
Mortgage-backed securities | 1,093 | 25 | (1 | ) | 1,117 | |||||||||||
Other debt securities | 88 | — | — | 88 | ||||||||||||
Municipal securities | 25,199 | 15 | (7 | ) | 25,207 | |||||||||||
Bank certificate of deposits | 9,451 | — | (2 | ) | 9,449 | |||||||||||
$ | 90,404 | $ | 57 | $ | (70 | ) | $ | 90,391 | ||||||||
Fair Value of Marketable Securities by Contractual Maturity | ' | |||||||||||||||
The fair value of the marketable securities at September 30, 2014 by contractual maturity, are shown below (in thousands). Expected maturities could differ from contractual maturities because the issuers of the securities may have the right to prepay obligations without prepayment penalties. | ||||||||||||||||
Fair Value | ||||||||||||||||
Due in one year or less | $ | 68,130 | ||||||||||||||
Due after one year through five years | 79,885 | |||||||||||||||
Due after ten years | 3,327 | |||||||||||||||
$ | 151,342 | |||||||||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ' | ||||||||||||||||
Assets and liabilities of the Company measured at fair value on a recurring basis as of September 30, 2014 and 2013 are summarized as follows (in thousands): | |||||||||||||||||
Fair Value Measurements at Reporting Date Using | |||||||||||||||||
Description | September 30, | Quoted Prices in | Significant Other | Significant | |||||||||||||
2014 | Active Markets for | Observable Inputs | Unobservable Inputs | ||||||||||||||
Identical Assets | (Level 2) | (Level 3) | |||||||||||||||
(Level 1) | |||||||||||||||||
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 Measurements at Reporting Date Using | |||||||||||||||||
Description | September 30, | Quoted Prices in | Significant Other | Significant | |||||||||||||
2013 | Active Markets for | Observable Inputs | Unobservable Inputs | ||||||||||||||
Identical Assets | (Level 2) | (Level 3) | |||||||||||||||
(Level 1) | |||||||||||||||||
Assets | |||||||||||||||||
Cash equivalents | $ | 7,754 | $ | 6,152 | $ | 1,602 | $ | — | |||||||||
Available-for-sale securities | 90,391 | 2,199 | 88,192 | — | |||||||||||||
Foreign exchange contracts | 31 | — | 31 | — | |||||||||||||
Total Assets | $ | 98,176 | $ | 8,351 | $ | 89,825 | $ | — | |||||||||
Liabilities | |||||||||||||||||
Foreign exchange contracts | $ | 5 | $ | — | $ | 5 | $ | — | |||||||||
Property_Plant_and_Equipment_T
Property, Plant and Equipment (Tables) | 12 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||
Property, Plant and Equipment | ' | |||||||
Property, plant and equipment as of September 30, 2014 and 2013, excluding amounts related to the discontinued operations, were as follows (in thousands): | ||||||||
September 30, | ||||||||
2014 | 2013 | |||||||
Buildings and land | $ | 47,639 | $ | 38,539 | ||||
Computer equipment and software | 59,962 | 72,240 | ||||||
Machinery and equipment | 42,104 | 49,947 | ||||||
Furniture and fixtures | 4,774 | 9,456 | ||||||
Leasehold improvements | 17,771 | 13,937 | ||||||
Capital projects in progress | 1,528 | 2,042 | ||||||
173,778 | 186,161 | |||||||
Less accumulated depreciation and amortization | (123,595 | ) | (138,655 | ) | ||||
Property, plant and equipment, net | $ | 50,183 | $ | 47,506 | ||||
Goodwill_and_Intangible_Assets1
Goodwill and Intangible Assets (Tables) | 12 Months Ended | |||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||||||||||||||
Components of Goodwill By Business Segment | ' | |||||||||||||||||||||||
The components of the Company’s goodwill, excluding amounts related to the discontinued operations, by business segment at September 30, 2014 and 2013 are as follows (in thousands): | ||||||||||||||||||||||||
Brooks | Brooks | Brooks | Other | Total | ||||||||||||||||||||
Product | Global | Life Science | ||||||||||||||||||||||
Solutions | Services | Systems | ||||||||||||||||||||||
Gross goodwill at September 30, 2012 | $ | 461,738 | $ | 151,238 | $ | 40,302 | $ | 26,014 | $ | 679,292 | ||||||||||||||
Acquisitions and adjustments during fiscal year 2013 | 20,899 | 5,554 | 7,137 | — | 33,590 | |||||||||||||||||||
Gross goodwill at September 30, 2013 | 482,637 | 156,792 | 47,439 | 26,014 | 712,882 | |||||||||||||||||||
Acquisitions and adjustments during fiscal year 2014 | 11,638 | — | (61 | ) | — | 11,577 | ||||||||||||||||||
Gross goodwill at September 30, 2014 | $ | 494,275 | $ | 156,792 | $ | 47,378 | $ | 26,014 | $ | 724,459 | ||||||||||||||
Accumulated goodwill impairments at September 30, 2012 | $ | (437,706 | ) | $ | (151,238 | ) | $ | — | $ | (26,014 | ) | $ | (614,958 | ) | ||||||||||
Impairments recorded during fiscal year 2013 | — | — | — | — | — | |||||||||||||||||||
Accumulated goodwill impairments at September 30, 2013 | (437,706 | ) | (151,238 | ) | — | (26,014 | ) | (614,958 | ) | |||||||||||||||
Impairments recorded during fiscal year 2014 | — | — | — | — | — | |||||||||||||||||||
Accumulated goodwill impairments at September 30, 2014 | $ | (437,706 | ) | $ | (151,238 | ) | $ | — | $ | (26,014 | ) | $ | (614,958 | ) | ||||||||||
Goodwill, less accumulated impairments at September 30, 2013 | $ | 44,931 | $ | 5,554 | $ | 47,439 | $ | — | $ | 97,924 | ||||||||||||||
Goodwill, less accumulated impairments at September 30, 2014 | $ | 56,569 | $ | 5,554 | $ | 47,378 | $ | — | $ | 109,501 | ||||||||||||||
Schedule of Impaired Intangible Assets | ' | |||||||||||||||||||||||
The impairment charge was allocated in the Consolidated Statements of Operations for the fiscal years ended September 30, 2014 and 2013 as follows (in thousands): | ||||||||||||||||||||||||
Year Ended September 30, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Reported as cost of revenue: | ||||||||||||||||||||||||
Completed technology intangible asset impairment | $ | 398 | $ | 1,910 | ||||||||||||||||||||
Reported as selling, general and administrative expense: | ||||||||||||||||||||||||
Trademarks and trade name intangible asset impairment | — | 50 | ||||||||||||||||||||||
Total impairment charges | $ | 398 | $ | 1,960 | ||||||||||||||||||||
Components of Identifiable Intangible Assets | ' | |||||||||||||||||||||||
Components of the Company’s identifiable intangible assets, excluding amounts related to the discontinued operations, as of September 30, 2014 and 2013 are as follows (in thousands): | ||||||||||||||||||||||||
30-Sep-14 | 30-Sep-13 | |||||||||||||||||||||||
Cost | Accumulated | Net Book | Cost | Accumulated | Net Book | |||||||||||||||||||
Amortization | Value | Amortization | Value | |||||||||||||||||||||
Patents | $ | 7,808 | $ | 7,300 | $ | 508 | $ | 7,808 | $ | 7,196 | $ | 612 | ||||||||||||
Completed technology | 57,155 | 41,539 | 15,616 | 57,050 | 40,354 | 16,696 | ||||||||||||||||||
Trademarks and trade names | 3,496 | 3,496 | — | 3,564 | 3,554 | 10 | ||||||||||||||||||
Customer relationships | 73,389 | 29,963 | 43,426 | 66,687 | 23,917 | 42,770 | ||||||||||||||||||
$ | 141,848 | $ | 82,298 | $ | 59,550 | $ | 135,109 | $ | 75,021 | $ | 60,088 | |||||||||||||
Estimated Future Amortization Expense for Intangible Assets | ' | |||||||||||||||||||||||
Estimated future amortization expense for the intangible assets recorded by the Company as of September 30, 2014 is as follows (in thousands): | ||||||||||||||||||||||||
Year ended September 30, | ||||||||||||||||||||||||
2015 | $ | 11,555 | ||||||||||||||||||||||
2016 | 10,240 | |||||||||||||||||||||||
2017 | 9,536 | |||||||||||||||||||||||
2018 | 7,229 | |||||||||||||||||||||||
2019 | 6,660 | |||||||||||||||||||||||
Thereafter | 14,330 | |||||||||||||||||||||||
$ | 59,550 | |||||||||||||||||||||||
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 12 Months Ended | |||||||||||
Sep. 30, 2014 | ||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||
Reconciliation of Weighted Average Shares Outstanding for Calculating Basic and Diluted Earnings Per Share | ' | |||||||||||
Below is a reconciliation of weighted average common shares outstanding for purposes of calculating basic and diluted earnings per share for the fiscal years ended September 30, 2014, 2013 and 2012 (in thousands, except per share data): | ||||||||||||
Year ended September 30, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Income (loss) from continuing operations | $ | 1,520 | $ | (7,114 | ) | $ | 131,835 | |||||
Income from discontinued operations, net of tax | 30,002 | 4,964 | 5,000 | |||||||||
Net income (loss) | 31,522 | (2,150 | ) | 136,835 | ||||||||
Net income attributable to noncontrolling interests | (161 | ) | (65 | ) | (46 | ) | ||||||
Net income (loss) attributable to Brooks Automation, Inc. | $ | 31,361 | $ | (2,215 | ) | $ | 136,789 | |||||
Weighted average common shares outstanding used in computing basic earnings per share | 66,648 | 65,912 | 65,128 | |||||||||
Dilutive common stock options and restricted stock units | 996 | — | 594 | |||||||||
Weighted average common shares outstanding for purposes of computing diluted earnings per share | 67,644 | 65,912 | 65,722 | |||||||||
Basic net income (loss) per share attributable to Brooks Automation, Inc. common stockholders: | ||||||||||||
Income (loss) from continuing operations | $ | 0.02 | $ | (0.11 | ) | $ | 2.02 | |||||
Income from discontinued operations, net of tax | 0.45 | 0.08 | 0.08 | |||||||||
Basic net income (loss) per share attributable to Brooks Automation, Inc. | $ | 0.47 | $ | (0.03 | ) | $ | 2.1 | |||||
Diluted net income (loss) per share attributable to Brooks Automation, Inc. common stockholders: | ||||||||||||
Income (loss) from continuing operations | $ | 0.02 | $ | (0.11 | ) | $ | 2.01 | |||||
Income from discontinued operations, net of tax | 0.44 | 0.08 | 0.08 | |||||||||
Diluted net income (loss) per share attributable to Brooks Automation, Inc. common stockholders | $ | 0.46 | $ | (0.03 | ) | $ | 2.08 | |||||
Derivative_Instruments_Tables
Derivative Instruments (Tables) | 12 Months Ended | ||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||||
Net Gains and Losses Recorded | ' | ||||||||||||||||||
Net gains and losses recorded as a component of "Other income, net" in the Consolidated Statements of Operations related to these contracts is as follows for the fiscal years ended September 30, 2014, 2013 and 2012 (in thousands): | |||||||||||||||||||
Year ended September 30, | |||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||
Realized gains (losses) on derivative instruments not designated as hedging instruments | $ | 185 | $ | 123 | $ | (151 | ) | ||||||||||||
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, 2014 and 2013 (in thousands): | |||||||||||||||||||
September 30, 2014: | |||||||||||||||||||
Buy Currency | Notional Amount | Sell Currency | Maturity | Notional Amount | Fair Value of | Fair Value of | |||||||||||||
of Buy Currency | of Sell Currency | Assets | Liabilities | ||||||||||||||||
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 | ||||||||||||||||
September 30, 2013: | |||||||||||||||||||
Buy Currency | Notional Amount | Sell Currency | Maturity | Notional Amount | Fair Value of | Fair Value of | |||||||||||||
of Buy Currency | of Sell Currency | Assets | Liabilities | ||||||||||||||||
U.S. dollar | 2,762 | Japanese yen | October 2013 to December 2013 | 273,000 | $ | 8 | $ | — | |||||||||||
Korean won | 740,000 | U.S. dollar | October 2013 | 688 | — | 2 | |||||||||||||
U.S. dollar | 304 | Israeli shekel | October 2013 | 1,075 | — | 3 | |||||||||||||
U.S. dollar | 231 | Singapore dollar | October 2013 | 290 | — | — | |||||||||||||
$ | 8 | $ | 5 | ||||||||||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||||||
Sep. 30, 2014 | ||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||
Components of Income Tax Provision (Benefit) | ' | |||||||||||
The components of the income tax benefit, excluding amounts related to the discontinued operations, for the fiscal years ended September 30, 2014, 2013 and 2012 are as follows (in thousands): | ||||||||||||
Year Ended September 30, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Current income tax provision (benefit): | ||||||||||||
Federal | $ | 15 | $ | 15 | $ | 15 | ||||||
State | 177 | 70 | 213 | |||||||||
Foreign | 1,417 | 681 | (1,374 | ) | ||||||||
Total current income tax provision (benefit) | 1,609 | 766 | (1,146 | ) | ||||||||
Deferred income tax benefit: | ||||||||||||
Federal | (2,276 | ) | (5,245 | ) | (121,203 | ) | ||||||
State | (35 | ) | (183 | ) | (439 | ) | ||||||
Foreign | (1,278 | ) | (323 | ) | (3,413 | ) | ||||||
Total deferred income tax benefit | (3,589 | ) | (5,751 | ) | (125,055 | ) | ||||||
Income tax benefit | $ | (1,980 | ) | $ | (4,985 | ) | $ | (126,201 | ) | |||
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 of equity method investments for the fiscal years ended September 30, 2014, 2013 and 2012 are as follows (in thousands): | ||||||||||||
Year Ended September 30, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Domestic | $ | (7,338 | ) | $ | (14,747 | ) | $ | (5,715 | ) | |||
Foreign | 5,643 | 206 | 9,216 | |||||||||
$ | (1,695 | ) | $ | (14,541 | ) | $ | 3,501 | |||||
Differences between Income Tax Provision (benefit) and Income Taxes Computed using Applicable U.S. Statutory Federal Tax Rate | ' | |||||||||||
The differences between the income tax benefit and income taxes computed using the applicable U.S. statutory federal tax rate for the fiscal years ended September 30, 2014, 2013 and 2012 are as follows (in thousands): | ||||||||||||
Year Ended September 30, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Income tax provision (benefit) computed at federal statutory rate | $ | (217 | ) | $ | (4,257 | ) | $ | 1,957 | ||||
State income taxes, net of federal benefit | (12 | ) | (101 | ) | 112 | |||||||
Foreign income taxed at different rates | (596 | ) | 493 | (832 | ) | |||||||
Dividends | (1,373 | ) | 115 | 956 | ||||||||
Change in deferred tax asset valuation allowance | 453 | 523 | (125,479 | ) | ||||||||
Reduction in uncertain tax positions | (1,236 | ) | (1,022 | ) | (3,732 | ) | ||||||
Nondeductible compensation | 1,064 | 474 | 1,339 | |||||||||
Tax credits | (704 | ) | (2,002 | ) | (1,195 | ) | ||||||
Travel and entertainment | 220 | 124 | 139 | |||||||||
Merger costs | 187 | 251 | — | |||||||||
Other | 234 | 417 | 534 | |||||||||
Income tax benefit | $ | (1,980 | ) | $ | (4,985 | ) | $ | (126,201 | ) | |||
Significant Components of Net Deferred Tax Assets and Liabilities | ' | |||||||||||
The significant components of the net deferred tax assets and liabilities as of September 30, 2014 and 2013 are as follows (in thousands): | ||||||||||||
September 30, | ||||||||||||
2014 | 2013 | |||||||||||
Accruals and reserves not currently deductible | $ | 12,456 | $ | 11,050 | ||||||||
Federal, state and foreign tax credits | 20,434 | 20,084 | ||||||||||
Other assets | 3,523 | 1,859 | ||||||||||
Net operating loss carryforwards | 67,380 | 101,717 | ||||||||||
Inventory reserves and valuation | 9,956 | 9,052 | ||||||||||
Deferred tax assets | 113,749 | 143,762 | ||||||||||
Depreciation and intangible amortization | 12,198 | 12,208 | ||||||||||
Deferred tax liabilities | 12,198 | 12,208 | ||||||||||
Valuation allowance | (18,354 | ) | (16,509 | ) | ||||||||
Net deferred tax asset | $ | 83,197 | $ | 115,045 | ||||||||
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, 2014, 2013 and 2012 is as follows (in thousands): | ||||||||||||
Unrecognized Tax | Interest | Total | ||||||||||
Benefit | and | |||||||||||
Penalties | ||||||||||||
Balance at October 1, 2011 | $ | 9,011 | $ | 1,989 | $ | 11,000 | ||||||
Additions for tax positions of prior years | 242 | 247 | 489 | |||||||||
Reductions from lapses in statutes of limitations | (3,125 | ) | (607 | ) | (3,732 | ) | ||||||
Foreign exchange rate adjustment | (167 | ) | 15 | (152 | ) | |||||||
Balance at September 30, 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 | ||||||
Postretirement_Benefits_Tables
Postretirement Benefits (Tables) | 12 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | |||||||||||||||
Funded Status and Amounts Recognized in Consolidated Balance Sheet | ' | |||||||||||||||
The Company uses a September 30th measurement date in the determination of 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, 2014 and 2013 (in thousands): | ||||||||||||||||
September 30, | ||||||||||||||||
2014 | 2013 | |||||||||||||||
Benefit obligation at beginning of fiscal year | $ | 7,107 | $ | 10,181 | ||||||||||||
Service cost | 406 | 604 | ||||||||||||||
Interest cost | 154 | 148 | ||||||||||||||
Actuarial loss (gain) | 968 | (670 | ) | |||||||||||||
Benefits paid | (141 | ) | (1,421 | ) | ||||||||||||
Settlements paid | — | (1,383 | ) | |||||||||||||
Curtailment gain | — | (500 | ) | |||||||||||||
Foreign currency translation | (281 | ) | 148 | |||||||||||||
Benefit obligation at end of fiscal year | $ | 8,213 | $ | 7,107 | ||||||||||||
Fair value of assets at beginning of fiscal year | $ | 5,996 | $ | 8,015 | ||||||||||||
Actual return on plan assets | 98 | 304 | ||||||||||||||
Disbursements | (264 | ) | (1,573 | ) | ||||||||||||
Employer contributions | 302 | 292 | ||||||||||||||
Employee contributions | 200 | 194 | ||||||||||||||
Settlements paid | — | (1,383 | ) | |||||||||||||
Foreign currency translation | (201 | ) | 147 | |||||||||||||
Fair value of assets at end of fiscal year | $ | 6,131 | $ | 5,996 | ||||||||||||
Accrued benefit obligation | $ | 2,082 | $ | 1,111 | ||||||||||||
Pension Amounts Recorded Within Account Line Items of Consolidated Balance Sheets | ' | |||||||||||||||
The following table provides pension amounts recorded within the account line items of the Company’s Consolidated Balance Sheets as of September 30, 2014 and 2013 (in thousands): | ||||||||||||||||
September 30, | ||||||||||||||||
2014 | 2013 | |||||||||||||||
Accrued compensation and benefits | $ | 308 | $ | 296 | ||||||||||||
Long-term pension liability | 1,774 | 815 | ||||||||||||||
Net Periodic Pension Cost | ' | |||||||||||||||
The components of the Company’s net pension cost for the fiscal years ended September 30, 2014, 2013 and 2012 is as follows (in thousands): | ||||||||||||||||
Year ended September 30, | ||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||
Service cost | $ | 406 | $ | 604 | $ | 787 | ||||||||||
Interest cost | 154 | 148 | 984 | |||||||||||||
Expected return on plan assets | (214 | ) | (247 | ) | (1,072 | ) | ||||||||||
Amortization of losses | 2 | 4 | 620 | |||||||||||||
Other | — | 160 | — | |||||||||||||
Net periodic pension cost | 348 | 669 | 1,319 | |||||||||||||
Settlement loss | — | 87 | 8,937 | |||||||||||||
Total pension cost | $ | 348 | $ | 756 | $ | 10,256 | ||||||||||
Other changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Loss | ' | |||||||||||||||
Other changes in Plan assets and benefit obligations recognized in other comprehensive loss as of September 30, 2014 and 2013 is as follows (in thousands): | ||||||||||||||||
September 30, | ||||||||||||||||
2014 | 2013 | |||||||||||||||
Net loss (gain) | $ | 961 | $ | (791 | ) | |||||||||||
Amortization of net loss | (2 | ) | (3 | ) | ||||||||||||
Curtailment loss | — | (675 | ) | |||||||||||||
Settlement loss | — | (87 | ) | |||||||||||||
Total recognized in other comprehensive income (loss) | 959 | (1,556 | ) | |||||||||||||
Total recognized in net periodic pension cost and other comprehensive income (loss) | $ | 1,307 | $ | (887 | ) | |||||||||||
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, 2014, 2013 and 2012 are as follows: | ||||||||||||||||
Year Ended September 30, | ||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||
Discount rate | 1.55 | % | 2.15 | % | 3.51 | % | ||||||||||
Expected return on plan assets | 2.18 | % | 2.17 | % | 2.18 | % | ||||||||||
Expected rate of compensation increases | 1.87 | % | 1.89 | % | 1.84 | % | ||||||||||
Asset Allocation of Plan Assets | ' | |||||||||||||||
The asset allocation of the plan assets at September 30, 2014 was as follows: | ||||||||||||||||
Debt securities | 73 | % | ||||||||||||||
Equity securities | 6 | |||||||||||||||
Cash | 2 | |||||||||||||||
Other | 19 | |||||||||||||||
100 | % | |||||||||||||||
Fair Value of Pension Assets by Asset Category and by Level | ' | |||||||||||||||
The fair value of pension assets by asset category and by level at September 30, 2014 were as follows (in thousands): | ||||||||||||||||
As of September 30, 2014 | ||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | |||||||||||||
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 | ' | |||||||||||||||
Expected benefit payments over the next ten fiscal years are anticipated to be paid as follows (in thousands): | ||||||||||||||||
2015 | $ | 231 | ||||||||||||||
2016 | 54 | |||||||||||||||
2017 | 55 | |||||||||||||||
2018 | 56 | |||||||||||||||
2019 | 57 | |||||||||||||||
2020-2024 | 664 | |||||||||||||||
Stockholders_Equity_Stockholde
Stockholders' Equity Stockholders' Equity (Tables) | 12 Months Ended | ||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||
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, 2014, 2013 and 2012 (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, 2011 | $ | 26,917 | $ | (192 | ) | $ | — | $ | (9,401 | ) | $ | 17,324 | |||||||||
Other comprehensive income before reclassifications | (2,406 | ) | 408 | — | (606 | ) | (2,604 | ) | |||||||||||||
Amounts reclassified from accumulated other comprehensive income | — | (15 | ) | — | 8,937 | 8,922 | |||||||||||||||
Balance at September 30, 2012 | 24,511 | 201 | — | (1,070 | ) | 23,642 | |||||||||||||||
Other comprehensive 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 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 | |||||||||
Stock_Plans_Tables
Stock Plans (Tables) | 12 Months Ended | ||||||||||||
Sep. 30, 2014 | |||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||
Stock Option Activity | ' | ||||||||||||
The following table summarizes stock option activity for all the above plans for the fiscal year ended September 30, 2014: | |||||||||||||
2014 | |||||||||||||
Shares | Weighted- | Weighted | Aggregate | ||||||||||
Average | Average Price | Intrinsic Value | |||||||||||
Remaining | (In Thousands) | ||||||||||||
Contractual Term | |||||||||||||
Options outstanding at September 30, 2013 | 15,540 | $ | 15.86 | ||||||||||
Forfeited/expired | (9,990 | ) | $ | 17.34 | |||||||||
Options outstanding at September 30, 2014 | 5,550 | 0.3 years | $ | 13.2 | $ | — | |||||||
Vested at September 30, 2014 | 5,550 | 0.3 years | $ | 13.2 | $ | — | |||||||
Options exercisable at September 30, 2014 | 5,550 | 0.3 years | $ | 13.2 | $ | — | |||||||
Shares available for future grant | 2,486,983 | ||||||||||||
Restricted Stock Activity | ' | ||||||||||||
A summary of the status of the Company’s restricted stock as of September 30, 2014 and changes during the fiscal year is as follows: | |||||||||||||
2014 | |||||||||||||
Shares | Weighted | ||||||||||||
Average | |||||||||||||
Grant-Date | |||||||||||||
Fair Value | |||||||||||||
Outstanding at September 30, 2013 | 2,915,413 | $ | 11.25 | ||||||||||
Awards granted | 1,517,057 | $ | 9.49 | ||||||||||
Awards vested | (592,857 | ) | $ | 9.48 | |||||||||
Awards canceled | (1,113,128 | ) | $ | 10.28 | |||||||||
Outstanding at September 30, 2014 | 2,726,485 | $ | 11.05 | ||||||||||
Restricted Stock Grants | ' | ||||||||||||
The following table reflects restricted stock units granted, including awards related to the discontinued operation, during the years ended September 30, 2014, 2013 and 2012: | |||||||||||||
Total Units | Time-Based Units | Performance-Based Units | |||||||||||
Year ended September 30, 2014 | 1,517,057 | 678,307 | 838,750 | ||||||||||
Year ended September 30, 2013 | 1,471,977 | 794,602 | 677,375 | ||||||||||
Year ended September 30, 2012 | 1,887,419 | 767,169 | 1,120,250 | ||||||||||
Restructuring_and_Other_Charge1
Restructuring and Other Charges (Tables) | 12 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Restructuring and Related Activities [Abstract] | ' | |||||||||||||||
Activity Related to Restructuring Accruals | ' | |||||||||||||||
The activity related to the Company’s restructuring and other charges, excluding amounts related to the discontinued operations, for the fiscal years ended September 30, 2014, 2013 and 2012 are summarized below (in thousands): | ||||||||||||||||
Fiscal Year 2014 Activity | ||||||||||||||||
Balance | Expense | Utilization | Balance | |||||||||||||
September 30, | September 30, | |||||||||||||||
2013 | 2014 | |||||||||||||||
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 | Expense | Utilization | Balance | |||||||||||||
September 30, | September 30, | |||||||||||||||
2012 | 2013 | |||||||||||||||
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 | ||||||||
Fiscal Year 2012 Activity | ||||||||||||||||
Balance | Expense | Utilization | Balance | |||||||||||||
September 30, | September 30, | |||||||||||||||
2011 | 2012 | |||||||||||||||
Workforce-related termination benefits | $ | 293 | $ | 3,153 | $ | (1,348 | ) | $ | 2,098 | |||||||
Segment_and_Geographic_Informa1
Segment and Geographic Information (Tables) | 12 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||
Financial Information for Business Segments | ' | |||||||||||||||
Financial information for the Company’s business segments, excluding amounts related to the discontinued operations, for the fiscal years ended September 30, 2014, 2013 and 2012 are as follows (in thousands): | ||||||||||||||||
Brooks | Brooks | Brooks | Total | |||||||||||||
Product | Global | Life Science | ||||||||||||||
Solutions | Services | Systems | ||||||||||||||
Year ended September 30, 2014 | ||||||||||||||||
Revenue | ||||||||||||||||
Product | $ | 325,639 | $ | 14,978 | $ | 46,415 | $ | 387,032 | ||||||||
Services | — | 79,083 | 16,733 | 95,816 | ||||||||||||
$ | 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 | ||||||||
Year ended September 30, 2013 | ||||||||||||||||
Revenue | ||||||||||||||||
Product | $ | 290,523 | $ | 13,152 | $ | 31,336 | $ | 335,011 | ||||||||
Services | — | 75,477 | 11,952 | 87,429 | ||||||||||||
$ | 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 | ||||||||
Year ended September 30, 2012 | ||||||||||||||||
Revenue | ||||||||||||||||
Product | $ | 351,432 | $ | 11,324 | $ | 39,749 | $ | 402,505 | ||||||||
Services | — | 73,616 | 12,862 | 86,478 | ||||||||||||
$ | 351,432 | $ | 84,940 | $ | 52,611 | $ | 488,983 | |||||||||
Gross profit | $ | 113,945 | $ | 25,093 | $ | 20,415 | $ | 159,453 | ||||||||
Segment operating income (loss) | $ | 13,330 | $ | 8,898 | $ | (3,139 | ) | $ | 19,089 | |||||||
Depreciation expense | $ | 8,600 | $ | 2,344 | $ | 2,111 | $ | 13,055 | ||||||||
Reconciliation of Reportable Segment Operating Income to Corresponding Consolidated Amounts | ' | |||||||||||||||
As of and for the Year Ended | ||||||||||||||||
September 30, | ||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||
Segment operating income (loss) | $ | 14,856 | $ | (1,672 | ) | $ | 19,089 | |||||||||
Other unallocated corporate expenses (1) | 5,096 | 3,002 | (1,833 | ) | ||||||||||||
Amortization of acquired intangible assets | 6,170 | 5,694 | 4,164 | |||||||||||||
Impairment of acquired intangible assets | — | 50 | — | |||||||||||||
Restructuring and other charges | 6,289 | 6,380 | 3,153 | |||||||||||||
Pension settlement | — | — | 8,937 | |||||||||||||
In-process research and development | — | — | 3,026 | |||||||||||||
Total operating income (loss) | $ | (2,699 | ) | $ | (16,798 | ) | $ | 1,642 | ||||||||
Reconciliation of Reportable Segment Assets to Corresponding Consolidated Amounts | ' | |||||||||||||||
Segment assets | $ | 415,120 | $ | 391,742 | ||||||||||||
Cash, cash equivalents, restricted cash and marketable securities | 245,456 | 173,539 | ||||||||||||||
Deferred tax assets | 86,572 | 115,985 | ||||||||||||||
Assets held for sale | — | 27,778 | ||||||||||||||
Equity method investments | 28,944 | 25,687 | ||||||||||||||
Other unallocated corporate net assets | 1,946 | 2,032 | ||||||||||||||
Total assets | $ | 778,038 | $ | 736,763 | ||||||||||||
Net Revenues by Geographic Area | ' | |||||||||||||||
Net revenue based upon the source of the order by geographic area for the fiscal years ended September 30, 2014, 2013 and 2012 are as follows (in thousands): | ||||||||||||||||
Year Ended September 30, | ||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||
North America | $ | 174,343 | $ | 177,779 | $ | 214,060 | ||||||||||
Asia/Pacific | 198,695 | 154,358 | 183,406 | |||||||||||||
Europe | 109,810 | 90,303 | 91,517 | |||||||||||||
$ | 482,848 | $ | 422,440 | $ | 488,983 | |||||||||||
Long-Lived Assets, Consisting of Property, Plant and Equipment by Geographic Area | ' | |||||||||||||||
roperty, plant and equipment by geographic area as of September 30, 2014 and 2013 are as follows (in thousands): | ||||||||||||||||
September 30, | ||||||||||||||||
2014 | 2013 | |||||||||||||||
North America | $ | 40,232 | $ | 38,505 | ||||||||||||
Asia/Pacific | 870 | 1,646 | ||||||||||||||
Europe | 9,081 | 7,355 | ||||||||||||||
$ | 50,183 | $ | 47,506 | |||||||||||||
Other_Balance_Sheet_Informatio1
Other Balance Sheet Information (Tables) | 12 Months Ended | ||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | ||||||||||||||||||||
Summary of Accounts Receivable | ' | ||||||||||||||||||||
The following is a summary of accounts receivable at September 30, 2014 and 2013 (in thousands): | |||||||||||||||||||||
September 30, | |||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
Accounts receivable | $ | 81,270 | $ | 78,460 | |||||||||||||||||
Less allowance for doubtful accounts | (1,031 | ) | (863 | ) | |||||||||||||||||
Less allowance for sales returns | (133 | ) | (114 | ) | |||||||||||||||||
$ | 80,106 | $ | 77,483 | ||||||||||||||||||
Allowance for Doubtful Accounts Activity | ' | ||||||||||||||||||||
The allowance for doubtful accounts activity for the fiscal years ended September 30, 2014, 2013 and 2012 was as follows (in thousands): | |||||||||||||||||||||
Description | Balance at | Provisions | Reversals of | Write-offs and | Balance at | ||||||||||||||||
Beginning of | Bad Debt | Adjustments | End of | ||||||||||||||||||
Period | Expense | Period | |||||||||||||||||||
2014 Allowance for doubtful accounts | $ | 863 | $ | 438 | $ | (315 | ) | $ | 45 | $ | 1,031 | ||||||||||
2013 Allowance for doubtful accounts | 851 | 48 | (143 | ) | 107 | 863 | |||||||||||||||
2012 Allowance for doubtful accounts | 617 | 367 | (130 | ) | (3 | ) | 851 | ||||||||||||||
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, 2014 and 2013 was as follows (in thousands): | |||||||||||||||||||||
Description | Balance at | Provisions | Write-offs and | Balance at | |||||||||||||||||
Beginning of | Adjustments | End of | |||||||||||||||||||
Period | Period | ||||||||||||||||||||
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, 2014 and 2013, excluding amounts related to discontinued operations (in thousands): | |||||||||||||||||||||
September 30, | |||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
Inventories | |||||||||||||||||||||
Raw materials and purchased parts | $ | 57,250 | $ | 57,678 | |||||||||||||||||
Work-in-process | 20,068 | 19,991 | |||||||||||||||||||
Finished goods | 16,249 | 16,742 | |||||||||||||||||||
$ | 93,567 | $ | 94,411 | ||||||||||||||||||
Product Warranty and Retrofit Activity on a Gross Basis | ' | ||||||||||||||||||||
The Company provides for the estimated cost of product warranties, primarily from historical information, at the time product revenue is recognized and retrofit accruals 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. Product warranty and retrofit activity on a gross basis for the fiscal years ended September 30, 2014, 2013 and 2012, excluding amounts related to discontinued operations, is as follows (in thousands): | |||||||||||||||||||||
Balance at September 30, 2011 | $ | 7,438 | |||||||||||||||||||
Adjustments for acquisitions and divestitures | 7 | ||||||||||||||||||||
Accruals for warranties during the year | 13,551 | ||||||||||||||||||||
Costs incurred during the year | (13,750 | ) | |||||||||||||||||||
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 | |||||||||||||||||||
Sale_of_Building_and_Land_Tabl
Sale of Building and Land (Tables) | 12 Months Ended | |||
Sep. 30, 2014 | ||||
Real Estate [Abstract] | ' | |||
Schedule of Realized Gain on Sale of Building and Land | ' | |||
On September 27, 2013, the Company completed a Purchase and Sale Agreement ("Agreement") to sell a portion of its Chelmsford, Massachusetts campus to a real estate investment trust for $11.3 million. The property sold was an underutilized building and the related land. The components of the gain on the sale is as follows (in thousands): | ||||
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 | ||
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | |||
Sep. 30, 2014 | ||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||
Schedule of Future Minimum Lease Payments | ' | |||
The future minimum lease payments required under the capital lease and the present value of the net minimum lease payments, as of September 30, 2014, are as follows (in thousands): | ||||
Year ended September 30, | ||||
2015 | $ | 881 | ||
2016 | 881 | |||
2017 | 881 | |||
2018 | 6,901 | |||
Total minimum lease payments | 9,544 | |||
Less amounts representing interest | 1,246 | |||
Total capital lease obligation | 8,298 | |||
Less current portion of capital lease obligation | 881 | |||
Long-term capital lease obligation | $ | 7,417 | ||
Future Minimum Lease Commitments on Non-cancelable Operating Leases, Lease Income and Sublease Income | ' | |||
Future minimum lease commitments on non-cancelable operating leases as of September 30, 2014 are as follows (in thousands): | ||||
Year ended September 30, 2015 | $ | 5,140 | ||
2016 | 3,384 | |||
2017 | 1,748 | |||
2018 | 1,401 | |||
2019 | 706 | |||
Thereafter | 93 | |||
$ | 12,472 | |||
Summary_of_Significant_Account3
Summary of Significant Accounting Policies - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Accounting Policies [Abstract] | ' | ' | ' |
Net foreign currency transaction losses | $1.20 | $0.90 | $0.40 |
Cash equivalents | $6.40 | $7.80 | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Percentage of revenues by customer | 11.00% | 11.00% | 13.00% |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Shares available for grant | 2,486,983 | ' | ' |
Stock Compensation Plan | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Vesting period | '4 years | ' | ' |
Term of award | 'P10Y | ' | ' |
Restricted stock | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Vesting period | '3 years | ' | ' |
Top Ten Largest Customers | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Percentage of revenues by customer | 37.00% | 40.00% | 45.00% |
Customer 1 | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Percentage of revenues by customer | 11.00% | ' | ' |
Summary_of_Significant_Account4
Summary of Significant Accounting Policies - Summary of Depreciable Lives (Detail) | 12 Months Ended |
Sep. 30, 2014 | |
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_Account5
Summary of Significant Accounting Policies - Summary of Amortizable Lives of Intangible Assets (Detail) | 12 Months Ended |
Sep. 30, 2014 | |
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_Account6
Summary of Significant Accounting Policies - Compensation Expense (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Stock-based compensation | $10,914 | $7,608 | $8,498 |
Restricted stock | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Stock-based compensation | 10,469 | 7,112 | 7,949 |
Employee stock purchase plan | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Stock-based compensation | $445 | $496 | $549 |
Summary_of_Significant_Account7
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, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Risk-free interest rate | 0.10% | 0.10% | 0.10% |
Volatility | 25.00% | 32.00% | 45.00% |
Expected life | '6 months | '6 months | '6 months |
Dividend yield | 3.40% | ' | ' |
Minimum | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Dividend yield | ' | 3.30% | 2.75% |
Maximum | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Dividend yield | ' | 3.40% | 3.30% |
Discontinued_Operations_Narrat
Discontinued Operations - Narrative (Details) (Granville-Phillips [Member], USD $) | 0 Months Ended |
In Millions, unless otherwise specified | Mar. 19, 2014 |
Granville-Phillips [Member] | ' |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' |
Sales price | $87 |
Discontinued_Operations_Result
Discontinued Operations - Results of Operations (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' |
Income from discontinued operations, net of tax | $30,002 | $4,964 | $5,000 |
Granville-Phillips [Member] | ' | ' | ' |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' |
Revenue | 18,921 | 28,512 | 30,468 |
Income from discontinued operations | 4,888 | 7,779 | 7,919 |
Gain on the sale of the discontinued operations | 56,804 | 0 | 0 |
Income tax provision | 31,690 | 2,815 | 2,919 |
Income from discontinued operations, net of tax | $30,002 | $4,964 | $5,000 |
Discontinued_Operations_Schedu
Discontinued Operations - Schedule of Assets and Liabilities (Details) (Granville-Phillips [Member], USD $) | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |
Granville-Phillips [Member] | ' |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' |
Inventory | $3,308 |
Property, plant and equipment | 364 |
Goodwill | 24,106 |
Assets held for sale | 27,778 |
Deferred revenue | 43 |
Accrued warranty and retrofit costs | 89 |
Liabilities held for sale | $132 |
Acquisitions_Additional_Inform
Acquisitions - Additional Information (Detail) (USD $) | 12 Months Ended | 3 Months Ended | 3 Months Ended | 0 Months Ended | 12 Months Ended | 12 Months Ended | 3 Months Ended | 1 Months Ended | |||||||||||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2014 | Jun. 30, 2014 | Apr. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Aug. 01, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Aug. 01, 2013 | Oct. 29, 2012 | Sep. 30, 2014 | Sep. 30, 2014 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2014 | Dec. 30, 2011 | |
Dynamic Micro Systems | Dynamic Micro Systems | Dynamic Micro Systems | Dynamic Micro Systems | Dynamic Micro Systems | Matrical | Matrical | Matrical | Crossing Automation Inc | Crossing Automation Inc | Crossing Automation Inc | Crossing Automation Inc | Intevac, Inc. | CeligoCell Cytometer product line | CeligoCell Cytometer product line | CeligoCell Cytometer product line | ||||
Completed technology | Customer relationships | Completed technology | Customer relationships | Completed technology | Customer relationships | ||||||||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Merger consideration, net of cash | ' | ' | ' | ' | ' | $31,625,000 | ' | ' | $9,326,000 | ' | ' | $59,005,000 | $59,005,000 | ' | ' | ' | ' | ' | ' |
Escrow refund | ' | ' | ' | 2,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Escrow reserve | ' | ' | ' | 3,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortizable lives | ' | ' | ' | ' | ' | ' | '5 years | '8 years | ' | '4 years 7 months | '7 years | ' | ' | '7 years 8 months | '8 years | ' | ' | ' | ' |
Revenue of acquiree | ' | ' | ' | ' | 5,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net loss of acquiree | ' | ' | ' | ' | 4,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Inventory step up | ' | ' | ' | ' | 1,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization expense for intangible assets | 10,600,000 | 9,800,000 | 6,700,000 | ' | 900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restructuring charges | 6,289,000 | 6,293,000 | ' | ' | 300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business acquisition, cash payment | ' | ' | ' | ' | ' | ' | ' | ' | 9,300,000 | ' | ' | ' | ' | ' | ' | 3,000,000 | 8,700,000 | ' | ' |
Business acquisition deferred cash payable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500,000 |
Impairment loss | $614,958,000 | $614,958,000 | $614,958,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $2,400,000 | ' |
Acquisitions_Amounts_of_Assets
Acquisitions - Amounts of Assets and Liabilities at Fair Value as of Acquisition Date (Detail) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 | Apr. 30, 2014 | Apr. 30, 2014 | Apr. 30, 2014 | Aug. 01, 2013 | Aug. 01, 2013 | Aug. 01, 2013 | Aug. 01, 2013 | Oct. 29, 2012 | Aug. 01, 2013 | Aug. 01, 2013 |
In Thousands, unless otherwise specified | Dynamic Micro Systems | Dynamic Micro Systems | Dynamic Micro Systems | Matrical | Matrical | Matrical | Crossing Automation Inc | Crossing Automation Inc | Crossing Automation Inc | Crossing Automation Inc | ||
Completed technology | Customer relationships | Completed technology | Customer relationships | Completed technology | Customer relationships | |||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accounts receivable | ' | ' | $15,262 | ' | ' | $636 | ' | ' | $5,356 | ' | ' | ' |
Inventory | ' | ' | 10,051 | ' | ' | 2,095 | ' | ' | 8,668 | ' | ' | ' |
Prepaid and other current assets | ' | ' | 2,727 | ' | ' | 103 | ' | ' | 1,968 | ' | ' | ' |
Property, plant and equipment | ' | ' | 2,049 | ' | ' | 534 | ' | ' | 2,270 | ' | ' | ' |
Identifiable intangible assets | ' | ' | ' | 3,610 | 7,100 | ' | 500 | 1,500 | ' | ' | 10,530 | 20,010 |
Goodwill | 109,501 | 97,924 | 11,638 | ' | ' | 7,076 | ' | ' | 26,453 | ' | ' | ' |
Other long term assets | ' | ' | ' | ' | ' | 0 | ' | ' | 885 | ' | ' | ' |
Debt | ' | ' | ' | ' | ' | -902 | ' | ' | 0 | ' | ' | ' |
Accounts payable | ' | ' | -10,393 | ' | ' | -294 | ' | ' | -3,024 | ' | ' | ' |
Accrued liabilities | ' | ' | -5,522 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred revenue | ' | ' | -1,309 | ' | ' | -351 | ' | ' | -319 | ' | ' | ' |
Customer deposits | ' | ' | ' | ' | ' | -1,249 | ' | ' | 0 | ' | ' | ' |
Other current liabilities | ' | ' | ' | ' | ' | -322 | ' | ' | -5,560 | ' | ' | ' |
Long-term deferred tax liabilities | ' | ' | -3,588 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other long-term liabilities | ' | ' | ' | ' | ' | 0 | ' | ' | -8,232 | ' | ' | ' |
Total purchase price, net of cash acquired | ' | ' | $31,625 | ' | ' | $9,326 | ' | ' | $59,005 | $59,005 | ' | ' |
Acquisitions_Pro_Forma_Informa
Acquisitions - Pro Forma Information (Detail) (Dynamic Micro Systems, USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Dynamic Micro Systems | ' | ' |
Business Acquisition [Line Items] | ' | ' |
Revenue | $501,951 | $456,588 |
Income (loss) from continuing operations | -4,788 | -10,678 |
Net income (loss) attributable to Brooks Automation, Inc. | $25,053 | ($5,779) |
Marketable_Securities_Summary_
Marketable Securities - Summary of Marketable Securities Including Accrued Interest Receivable (Detail) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | $151,521 | $90,404 |
Gross Unrealized Gains | 63 | 57 |
Gross Unrealized Losses | -242 | -70 |
Fair Value | 151,342 | 90,391 |
U.S. Treasury securities and obligations of U.S. government agencies | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 26,052 | 19,528 |
Gross Unrealized Gains | 1 | 6 |
Gross Unrealized Losses | -39 | -13 |
Fair Value | 26,014 | 19,521 |
Corporate securities | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 74,614 | 35,045 |
Gross Unrealized Gains | 23 | 11 |
Gross Unrealized Losses | -174 | -47 |
Fair Value | 74,463 | 35,009 |
Mortgage-backed securities | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 964 | 1,093 |
Gross Unrealized Gains | 36 | 25 |
Gross Unrealized Losses | 0 | -1 |
Fair Value | 1,000 | 1,117 |
Other debt securities | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 7,358 | 88 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | -10 | 0 |
Fair Value | 7,348 | 88 |
Municipal securities | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 15,888 | 25,199 |
Gross Unrealized Gains | 1 | 15 |
Gross Unrealized Losses | -16 | -7 |
Fair Value | 15,873 | 25,207 |
Bank certificate of deposits | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 26,645 | 9,451 |
Gross Unrealized Gains | 2 | 0 |
Gross Unrealized Losses | -3 | -2 |
Fair Value | $26,644 | $9,449 |
Marketable_Securities_Addition
Marketable Securities - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | |
Investments, Debt and Equity Securities [Abstract] | ' | ' | ' |
Gross realized gains on sales of available-for-sale marketable securities | $35,000 | $57,000 | $15,000 |
Gross realized losses on sales of available-for-sale marketable securities | $8,000 | $36,000 | $0 |
Marketable_Securities_Fair_Val
Marketable Securities - Fair Value of Marketable Securities by Contractual Maturity (Detail) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||
Investments, Debt and Equity Securities [Abstract] | ' | ' |
Due in one year or less | $68,130 | ' |
Due after one year through five years | 79,885 | ' |
Due after ten years | 3,327 | ' |
Fair Value | $151,342 | $90,391 |
Fair_Value_Measurements_Assets
Fair Value Measurements - Assets and Liabilities Measured at Fair Value (Detail) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||
Assets | ' | ' |
Available-for-sale securities | $151,342 | $90,391 |
Fair Value, Measurements, Recurring | ' | ' |
Assets | ' | ' |
Cash equivalents | 6,404 | 7,754 |
Available-for-sale securities | 151,342 | 90,391 |
Foreign exchange contracts | ' | 31 |
Total Assets | 157,746 | 98,176 |
Liabilities | ' | ' |
Foreign exchange contracts | 58 | 5 |
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | ' | ' |
Assets | ' | ' |
Cash equivalents | 5,166 | 6,152 |
Available-for-sale securities | 0 | 2,199 |
Foreign exchange contracts | ' | 0 |
Total Assets | 5,166 | 8,351 |
Liabilities | ' | ' |
Foreign exchange contracts | ' | 0 |
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | ' | ' |
Assets | ' | ' |
Cash equivalents | 1,238 | 1,602 |
Available-for-sale securities | 151,342 | 88,192 |
Foreign exchange contracts | ' | 31 |
Total Assets | 152,580 | 89,825 |
Liabilities | ' | ' |
Foreign exchange contracts | 58 | 5 |
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | ' | ' |
Assets | ' | ' |
Cash equivalents | ' | 0 |
Available-for-sale securities | 0 | 0 |
Foreign exchange contracts | ' | 0 |
Total Assets | 0 | 0 |
Liabilities | ' | ' |
Foreign exchange contracts | 0 | 0 |
Fair Value, Measurements, Nonrecurring | Significant Unobservable Inputs (Level 3) | ' | ' |
Assets | ' | ' |
Note receivable | $1,007 | ' |
Fair_Value_Measurements_Additi
Fair Value Measurements - Additional Information (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | $151,342 | $90,391 |
Fair Value, Measurements, Recurring | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash equivalents | 6,404 | 7,754 |
Available-for-sale securities | 151,342 | 90,391 |
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash equivalents | 5,166 | 6,152 |
Available-for-sale securities | 0 | 2,199 |
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash equivalents | 1,238 | 1,602 |
Available-for-sale securities | 151,342 | 88,192 |
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash equivalents | ' | 0 |
Available-for-sale securities | 0 | 0 |
Fair Value, Measurements, Nonrecurring | Significant Unobservable Inputs (Level 3) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Note receivable | $1,007 | ' |
Property_Plant_and_Equipment_S
Property, Plant and Equipment - Schedule (Detail) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment, gross | $173,778 | $186,161 |
Less accumulated depreciation and amortization | -123,595 | -138,655 |
Property, plant and equipment, net | 50,183 | 47,506 |
Buildings and land | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment, gross | 47,639 | 38,539 |
Computer equipment and software | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment, gross | 59,962 | 72,240 |
Machinery and equipment | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment, gross | 42,104 | 49,947 |
Furniture and fixtures | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment, gross | 4,774 | 9,456 |
Leasehold improvements | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment, gross | 17,771 | 13,937 |
Capital projects in progress | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment, gross | $1,528 | $2,042 |
Property_Plant_and_Equipment_A
Property, Plant and Equipment - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Property, Plant and Equipment [Abstract] | ' | ' | ' |
Depreciation expense | $12.70 | $13.70 | $13.10 |
Goodwill_and_Intangible_Assets2
Goodwill and Intangible Assets - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | |
Goodwill and Intangible Assets Disclosure [Line Items] | ' | ' | ' |
Impairment loss | $398,000 | $1,960,000 | $0 |
Amortization expense for intangible assets | 10,600,000 | 9,800,000 | 6,700,000 |
CeligoCell Cytometer product line | ' | ' | ' |
Goodwill and Intangible Assets Disclosure [Line Items] | ' | ' | ' |
Impairment loss | $398,000 | $1,960,000 | ' |
Goodwill_and_Intangible_Assets3
Goodwill and Intangible Assets - Components of Goodwill by Business Segment (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Goodwill [Roll Forward] | ' | ' |
Gross goodwill, period start | $712,882 | $679,292 |
Acquisitions and adjustments during fiscal year | 11,577 | 33,590 |
Gross goodwill, period end | 724,459 | 712,882 |
Accumulated goodwill impairments, beginning balance | -614,958 | -614,958 |
Impairments recorded during fiscal year | 0 | 0 |
Accumulated goodwill impairments, ending balance | -614,958 | -614,958 |
Goodwill, less accumulated impairments | 109,501 | 97,924 |
Brooks Product Solutions | ' | ' |
Goodwill [Roll Forward] | ' | ' |
Gross goodwill, period start | 482,637 | 461,738 |
Acquisitions and adjustments during fiscal year | 11,638 | 20,899 |
Gross goodwill, period end | 494,275 | 482,637 |
Accumulated goodwill impairments, beginning balance | -437,706 | -437,706 |
Impairments recorded during fiscal year | 0 | 0 |
Accumulated goodwill impairments, ending balance | -437,706 | -437,706 |
Goodwill, less accumulated impairments | 56,569 | 44,931 |
Brooks Global Services | ' | ' |
Goodwill [Roll Forward] | ' | ' |
Gross goodwill, period start | 156,792 | 151,238 |
Acquisitions and adjustments during fiscal year | 0 | 5,554 |
Gross goodwill, period end | 156,792 | 156,792 |
Accumulated goodwill impairments, beginning balance | -151,238 | -151,238 |
Impairments recorded during fiscal year | 0 | 0 |
Accumulated goodwill impairments, ending balance | -151,238 | -151,238 |
Goodwill, less accumulated impairments | 5,554 | 5,554 |
Brooks Life Science Systems | ' | ' |
Goodwill [Roll Forward] | ' | ' |
Gross goodwill, period start | 47,439 | 40,302 |
Acquisitions and adjustments during fiscal year | -61 | 7,137 |
Gross goodwill, period end | 47,378 | 47,439 |
Accumulated goodwill impairments, beginning balance | 0 | 0 |
Impairments recorded during fiscal year | 0 | 0 |
Accumulated goodwill impairments, ending balance | 0 | 0 |
Goodwill, less accumulated impairments | 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 |
Impairments recorded during fiscal year | 0 | 0 |
Accumulated goodwill impairments, ending balance | -26,014 | -26,014 |
Goodwill, less accumulated impairments | $0 | $0 |
Goodwill_and_Intangible_Assets4
Goodwill and Intangible Assets - Components of Impaired Intangible Assets (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Impairment loss | $398 | $1,960 | $0 |
CeligoCell Cytometer product line | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Impairment loss | 398 | 1,960 | ' |
CeligoCell Cytometer product line | Cost of Revenue | Completed technology | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Impairment loss | 398 | 1,910 | ' |
CeligoCell Cytometer product line | Selling, General and Administrative Expenses | Trademarks and trade names | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Impairment loss | $0 | $50 | ' |
Goodwill_and_Intangible_Assets5
Goodwill and Intangible Assets - Components of Identifiable Intangible Assets (Detail) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Cost | $141,848 | $135,109 |
Accumulated Amortization | 82,298 | 75,021 |
Net Book Value | 59,550 | 60,088 |
Patents | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Cost | 7,808 | 7,808 |
Accumulated Amortization | 7,300 | 7,196 |
Net Book Value | 508 | 612 |
Completed technology | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Cost | 57,155 | 57,050 |
Accumulated Amortization | 41,539 | 40,354 |
Net Book Value | 15,616 | 16,696 |
Trademarks and trade names | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Cost | 3,496 | 3,564 |
Accumulated Amortization | 3,496 | 3,554 |
Net Book Value | 0 | 10 |
Customer relationships | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Cost | 73,389 | 66,687 |
Accumulated Amortization | 29,963 | 23,917 |
Net Book Value | $43,426 | $42,770 |
Goodwill_and_Intangible_Assets6
Goodwill and Intangible Assets - Estimated Future Amortization Expense for Intangible Assets (Detail) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ' |
2015 | $11,555 | ' |
2016 | 10,240 | ' |
2017 | 9,536 | ' |
2018 | 7,229 | ' |
2019 | 6,660 | ' |
Thereafter | 14,330 | ' |
Net Book Value | $59,550 | $60,088 |
Equity_Method_Investments_Addi
Equity Method Investments - Additional information (Detail) (USD $) | 12 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | |
Schedule of Equity Method Investments [Line Items] | ' | ' | ' |
Equity in earnings of equity method investments | $1,235,000 | $2,442,000 | $2,133,000 |
Equity method investments | 28,944,000 | 25,687,000 | ' |
BioCision, LLC | ' | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' | ' |
Joint venture interest, percentage | 22.00% | ' | ' |
Equity investment cost | 4,000,000 | ' | ' |
Equity in earnings of equity method investments | 300,000 | ' | ' |
Equity method investments | 3,700,000 | ' | ' |
ULVAC Cryogenics, Inc. | ' | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' | ' |
Joint venture interest, percentage | 50.00% | ' | ' |
Equity in earnings of equity method investments | 1,600,000 | 2,600,000 | 2,000,000 |
Equity method investments | 22,600,000 | 22,700,000 | ' |
Management fee payments received | 600,000 | 600,000 | 1,000,000 |
Charges for products or services | 400,000 | 500,000 | 800,000 |
Accounts payable for unpaid products and services | 79,000 | 26,000 | ' |
Cash dividend received | 900,000 | 5,000,000 | ' |
Yaskawa Brooks Automation, Inc. | ' | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' | ' |
Joint venture interest, percentage | 50.00% | ' | ' |
Equity in earnings of equity method investments | -100,000 | -200,000 | 100,000 |
Equity method investments | 2,600,000 | 3,000,000 | ' |
Charges for products or services | 700,000 | 500,000 | 500,000 |
Accounts payable for unpaid products and services | 133,000 | 47,000 | ' |
Revenues earned from joint ventures | 7,400,000 | 6,300,000 | 8,000,000 |
Due from joint venture | $2,100,000 | $2,300,000 | ' |
Earnings_per_Share_Reconciliat
Earnings per Share - Reconciliation of Weighted Average Common Shares Outstanding for Purposes of Calculating Basic and Diluted Earnings Per Share (Detail) (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Earnings Per Share [Abstract] | ' | ' | ' |
Income (loss) from continuing operations | $1,520 | ($7,114) | $131,835 |
Income from discontinued operations, net of tax | 30,002 | 4,964 | 5,000 |
Net income (loss) | 31,522 | -2,150 | 136,835 |
Net income attributable to noncontrolling interests | -161 | -65 | -46 |
Net income (loss) attributable to Brooks Automation, Inc. | $31,361 | ($2,215) | $136,789 |
Weighted average common shares outstanding used in computing basic earnings per share | 66,648 | 65,912 | 65,128 |
Dilutive common stock options and restricted stock awards | 996 | 0 | 594 |
Weighted average common shares outstanding for purposes of computing diluted earnings per share | 67,644 | 65,912 | 65,722 |
Basic net income (loss) per share attributable to Brooks Automation, Inc. common stockholders: | ' | ' | ' |
Income (loss) from continuing operations (USD per share) | $0.02 | ($0.11) | $2.02 |
Income from discontinued operations, net of tax (USD per share) | $0.45 | $0.08 | $0.08 |
Basic net income (loss) per share attributable to Brooks Automation, Inc. (USD per share) | $0.47 | ($0.03) | $2.10 |
Diluted net income (loss) per share attributable to Brooks Automation, Inc. common stockholders: | ' | ' | ' |
Income (loss) from continuing operations (USD per share) | $0.02 | ($0.11) | $2.01 |
Income from discontinued operations, net of tax (USD per share) | $0.44 | $0.08 | $0.08 |
Diluted net income (loss) per share attributable to Brooks Automation, Inc. common stockholders (USD per share) | $0.46 | ($0.03) | $2.08 |
Earnings_per_Share_Additional_
Earnings per Share - Additional Information (Detail) | 3 Months Ended | 12 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | |
Stock options | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Anti-dilutive securities excluded from computation of diluted earnings per share | 11,298 | 43,009 | 238,000 |
Restricted stock | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Anti-dilutive securities excluded from computation of diluted earnings per share | 0 | 3,006,231 | 2,000 |
Note_Receivable_Additional_Inf
Note Receivable - Additional Information (Detail) (USD $) | 12 Months Ended | 3 Months Ended | ||||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2014 | Jun. 30, 2012 | Sep. 30, 2014 | |
Variable Interest Entity | Variable Interest Entity | Variable Interest Entity | ||||
Selling, General and Administrative Expenses | ||||||
Variable Interest Entity [Line Items] | ' | ' | ' | ' | ' | ' |
Loan provided to borrower | $0 | $0 | $3,000,000 | ' | $3,000,000 | ' |
Stated interest rate | ' | ' | ' | 10.00% | 9.00% | ' |
Term extension | ' | ' | ' | '5 years | ' | ' |
Impairment charge | ' | ' | ' | ' | ' | 2,600,000 |
Fair value estimate | ' | ' | ' | $1,000,000 | ' | ' |
Derivative_Instruments_Additio
Derivative Instruments - Additional Information (Details) (USD $) | 3 Months Ended |
In Millions, unless otherwise specified | Jun. 30, 2014 |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' |
Net gains related to foreign currency contracts | $0.10 |
Derivative_Instruments_Net_Gai
Derivative Instruments - Net Gains and Losses Recorded (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ' | ' |
Realized gains (losses) on derivative instruments not designated as hedging instruments | $185 | $123 | ($151) |
Derivative_Instruments_Notiona
Derivative Instruments - Notional Amounts Outstanding under Foreign Currency Contracts (Detail) (Not Designated as Hedging Instrument [Member], Foreign Exchange Contract [Member], USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||
Derivative [Line Items] | ' | ' |
Fair Value of Assets | $0 | $8 |
Fair Value of Liabilities | 58 | 5 |
Buy Currency, U.S. Dollar; Sell Currency, Japanese Yen | ' | ' |
Derivative [Line Items] | ' | ' |
Fair Value of Assets | 0 | ' |
Fair Value of Liabilities | 11 | ' |
Buy Currency, U.S. Dollar; Sell Currency, Euro | ' | ' |
Derivative [Line Items] | ' | ' |
Fair Value of Assets | 0 | ' |
Fair Value of Liabilities | 16 | ' |
Buy Currency, U.S. Dollar; Sell Currency, Taiwan Dollar | ' | ' |
Derivative [Line Items] | ' | ' |
Fair Value of Assets | 0 | ' |
Fair Value of Liabilities | 5 | ' |
Buy Currency, U.S. Dollar; Sell Currency, British Pound | ' | ' |
Derivative [Line Items] | ' | ' |
Fair Value of Assets | 0 | ' |
Fair Value of Liabilities | 5 | ' |
Buy Currency, U.S. Dollar; Sell Currency, Israeli Shekel | ' | ' |
Derivative [Line Items] | ' | ' |
Fair Value of Assets | 0 | 0 |
Fair Value of Liabilities | 5 | 3 |
Buy Currency, U.S. Dollar; Sell Currency, Korean Won | ' | ' |
Derivative [Line Items] | ' | ' |
Fair Value of Assets | 0 | ' |
Fair Value of Liabilities | 1 | ' |
Buy Currency, British Pound; Sell Currency, Euro | ' | ' |
Derivative [Line Items] | ' | ' |
Fair Value of Assets | 0 | ' |
Fair Value of Liabilities | 15 | ' |
Buy Currency, U.S. Dollar; Sell Currency, Japanese Yen | ' | ' |
Derivative [Line Items] | ' | ' |
Fair Value of Assets | ' | 8 |
Fair Value of Liabilities | ' | 0 |
Buy Currency, Korean Won; Sell Currency, U.S. Dollar | ' | ' |
Derivative [Line Items] | ' | ' |
Fair Value of Assets | ' | 0 |
Fair Value of Liabilities | ' | 2 |
Buy Currency, U.S. Dollar; Sell Currency, Singapore Dollar | ' | ' |
Derivative [Line Items] | ' | ' |
Fair Value of Assets | ' | 0 |
Fair Value of Liabilities | ' | 0 |
Long [Member] | Buy Currency, U.S. Dollar; Sell Currency, Japanese Yen | ' | ' |
Derivative [Line Items] | ' | ' |
Notional Amount | 1,736 | ' |
Long [Member] | Buy Currency, U.S. Dollar; Sell Currency, Euro | ' | ' |
Derivative [Line Items] | ' | ' |
Notional Amount | 1,395 | ' |
Long [Member] | Buy Currency, U.S. Dollar; Sell Currency, Taiwan Dollar | ' | ' |
Derivative [Line Items] | ' | ' |
Notional Amount | 656 | ' |
Long [Member] | Buy Currency, U.S. Dollar; Sell Currency, British Pound | ' | ' |
Derivative [Line Items] | ' | ' |
Notional Amount | 650 | ' |
Long [Member] | Buy Currency, U.S. Dollar; Sell Currency, Israeli Shekel | ' | ' |
Derivative [Line Items] | ' | ' |
Notional Amount | 731 | 304 |
Long [Member] | Buy Currency, U.S. Dollar; Sell Currency, Korean Won | ' | ' |
Derivative [Line Items] | ' | ' |
Notional Amount | 76 | ' |
Long [Member] | Buy Currency, British Pound; Sell Currency, Euro | ' | ' |
Derivative [Line Items] | ' | ' |
Notional Amount | 3,513 | ' |
Long [Member] | Buy Currency, U.S. Dollar; Sell Currency, Japanese Yen | ' | ' |
Derivative [Line Items] | ' | ' |
Notional Amount | ' | 2,762 |
Long [Member] | Buy Currency, Korean Won; Sell Currency, U.S. Dollar | ' | ' |
Derivative [Line Items] | ' | ' |
Notional Amount | ' | 740,000 |
Long [Member] | Buy Currency, U.S. Dollar; Sell Currency, Singapore Dollar | ' | ' |
Derivative [Line Items] | ' | ' |
Notional Amount | ' | 231 |
Short [Member] | Buy Currency, U.S. Dollar; Sell Currency, Japanese Yen | ' | ' |
Derivative [Line Items] | ' | ' |
Notional Amount | 190,000 | ' |
Short [Member] | Buy Currency, U.S. Dollar; Sell Currency, Euro | ' | ' |
Derivative [Line Items] | ' | ' |
Notional Amount | 1,100 | ' |
Short [Member] | Buy Currency, U.S. Dollar; Sell Currency, Taiwan Dollar | ' | ' |
Derivative [Line Items] | ' | ' |
Notional Amount | 20,000 | ' |
Short [Member] | Buy Currency, U.S. Dollar; Sell Currency, British Pound | ' | ' |
Derivative [Line Items] | ' | ' |
Notional Amount | 400 | ' |
Short [Member] | Buy Currency, U.S. Dollar; Sell Currency, Israeli Shekel | ' | ' |
Derivative [Line Items] | ' | ' |
Notional Amount | 2,700 | 1,075 |
Short [Member] | Buy Currency, U.S. Dollar; Sell Currency, Korean Won | ' | ' |
Derivative [Line Items] | ' | ' |
Notional Amount | 80,000 | ' |
Short [Member] | Buy Currency, British Pound; Sell Currency, Euro | ' | ' |
Derivative [Line Items] | ' | ' |
Notional Amount | 4,500 | ' |
Short [Member] | Buy Currency, U.S. Dollar; Sell Currency, Japanese Yen | ' | ' |
Derivative [Line Items] | ' | ' |
Notional Amount | ' | 273,000 |
Short [Member] | Buy Currency, Korean Won; Sell Currency, U.S. Dollar | ' | ' |
Derivative [Line Items] | ' | ' |
Notional Amount | ' | 688 |
Short [Member] | Buy Currency, U.S. Dollar; Sell Currency, Singapore Dollar | ' | ' |
Derivative [Line Items] | ' | ' |
Notional Amount | ' | $290 |
Income_Taxes_Components_of_Inc
Income Taxes - Components of Income Tax Provision (Benefit) (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Current income tax provision (benefit): | ' | ' | ' |
Federal | $15 | $15 | $15 |
State | 177 | 70 | 213 |
Foreign | 1,417 | 681 | -1,374 |
Total current income tax provision (benefit) | 1,609 | 766 | -1,146 |
Deferred income tax (benefit): | ' | ' | ' |
Federal | -2,276 | -5,245 | -121,203 |
State | -35 | -183 | -439 |
Foreign | -1,278 | -323 | -3,413 |
Total deferred income tax (benefit) | -3,589 | -5,751 | -125,055 |
Income tax provision (benefit) | ($1,980) | ($4,985) | ($126,201) |
Income_Taxes_Components_of_Inc1
Income Taxes - Components of Income Before Income Taxes and Equity in Earnings of Joint Ventures (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Domestic | ($7,338) | ($14,747) | ($5,715) |
Foreign | 5,643 | 206 | 9,216 |
Income (loss) before income taxes and equity in earnings of equity method investments | ($1,695) | ($14,541) | $3,501 |
Income_Taxes_Differences_Betwe
Income Taxes - Differences Between Income Tax Provision (Benefit) and Income Taxes Computed using Applicable U.S. Statutory Federal Tax Rate (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Income tax provision computed at federal statutory rate | ($217) | ($4,257) | $1,957 |
State income taxes, net of federal benefit | -12 | -101 | 112 |
Foreign income taxed at different rates | -596 | 493 | -832 |
Dividends | -1,373 | 115 | 956 |
Change in deferred tax asset valuation allowance | 453 | 523 | -125,479 |
Reduction in uncertain tax positions | -1,236 | -1,022 | -3,732 |
Nondeductible compensation | 1,064 | 474 | 1,339 |
Tax credits generated | -704 | -2,002 | -1,195 |
Travel and entertainment | 220 | 124 | 139 |
Merger costs | 187 | 251 | 0 |
Other | 234 | 417 | 534 |
Income tax provision (benefit) | ($1,980) | ($4,985) | ($126,201) |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | |
Income Taxes [Line Items] | ' | ' | ' |
Undistributed earnings of foreign subsidiaries | $25,200,000 | ' | ' |
Deferred tax asset | 83,197,000 | 115,045,000 | ' |
Change in deferred tax asset | 31,800,000 | ' | ' |
Tax effect of gain on sale of operations | 29,900,000 | ' | ' |
Effective tax rate on sale of operations | 52.60% | ' | ' |
Deferred income tax benefit | ' | -121,800,000 | ' |
Federal and state research and development tax credit carryforwards | 24,400,000 | ' | ' |
Federal and state research and development tax credit carryforwards, expiration year | '2034 | ' | ' |
Net operating losses, expiration year | 30-Sep-30 | ' | ' |
Interest related to unrecognized benefits | 300,000 | 200,000 | 200,000 |
Reductions from lapses in statutes of limitations | -1,236,000 | -1,022,000 | -3,732,000 |
Minimum | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Anticipated unrecognized tax benefit reduction during next twelve months | 1,200,000 | ' | ' |
Maximum | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Anticipated unrecognized tax benefit reduction during next twelve months | 2,300,000 | ' | ' |
Federal | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Net operating loss carryforwards | 143,500,000 | ' | ' |
State | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Net operating loss carryforwards | 97,900,000 | ' | ' |
Foreign | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Net operating loss carryforwards | 29,500,000 | ' | ' |
Reductions from lapses in statutes of limitations | -1,200,000 | ' | ' |
Stock Compensation Plan | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Net operating loss carryforwards | $11,700,000 | ' | ' |
Income_Taxes_Significant_Compo
Income Taxes - Significant Components of Net Deferred Tax Assets and Liabilities (Detail) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||
Income Tax Disclosure [Abstract] | ' | ' |
Accruals and reserves not currently deductible | $12,456 | $11,050 |
Federal, state and foreign tax credits | 20,434 | 20,084 |
Other assets | 3,523 | 1,859 |
Net operating loss carryforwards | 67,380 | 101,717 |
Inventory reserves and valuation | 9,956 | 9,052 |
Deferred tax assets | 113,749 | 143,762 |
Depreciation and intangible amortization | 12,198 | 12,208 |
Deferred tax liabilities | 12,198 | 12,208 |
Valuation allowance | -18,354 | -16,509 |
Net deferred tax asset (liability) | $83,197 | $115,045 |
Income_Taxes_Reconciliation_of
Income Taxes - Reconciliation of Beginning and Ending Amount of Consolidated Liability for Unrecognized Income Tax Benefits (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | ' | ' | ' |
Beginning Balance | $6,941 | $7,605 | $11,000 |
Additions for tax positions of prior years | 286 | 228 | 489 |
Additions for tax positions related to acquired entities | ' | 116 | ' |
Reductions from lapses in statutes of limitations | -1,236 | -1,022 | -3,732 |
Foreign exchange rate adjustment | -24 | 14 | -152 |
Ending Balance | 5,967 | 6,941 | 7,605 |
Unrecognized Tax Benefits | ' | ' | ' |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | ' | ' | ' |
Beginning Balance | 5,147 | 5,961 | 9,011 |
Additions for tax positions of prior years | 0 | 0 | 242 |
Additions for tax positions related to acquired entities | ' | 116 | ' |
Reductions from lapses in statutes of limitations | -861 | -944 | -3,125 |
Foreign exchange rate adjustment | -24 | 14 | -167 |
Ending Balance | 4,262 | 5,147 | 5,961 |
Interest and Penalties | ' | ' | ' |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | ' | ' | ' |
Beginning Balance | 1,794 | 1,644 | 1,989 |
Additions for tax positions of prior years | 286 | 228 | 247 |
Additions for tax positions related to acquired entities | ' | 0 | ' |
Reductions from lapses in statutes of limitations | -375 | -78 | -607 |
Foreign exchange rate adjustment | 0 | 0 | 15 |
Ending Balance | $1,705 | $1,794 | $1,644 |
Postretirement_Benefits_Additi
Postretirement Benefits - Additional Information (Detail) (USD $) | 12 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 12 Months Ended | |||||||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2010 | |
Nexus Plan | Nexus Plan | Helix Plan | Taiwan Plan Assets | Market Related Valuation of Assets | Other actuarial losses | Worldwide Defined Contribution Plans | Worldwide Defined Contribution Plans | Worldwide Defined Contribution Plans | ||||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Settlements paid | $0 | $1,383,000 | ' | ' | ' | $6,400,000 | ' | ' | ' | ' | ' | ' |
Accelerated amortization of prior pension losses | ' | ' | ' | 100,000 | ' | 8,900,000 | ' | ' | ' | ' | ' | ' |
Accumulated benefit obligation | 7,300,000 | 6,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrecognized net actuarial gains (losses) | -500,000 | 500,000 | ' | ' | ' | ' | ' | -800,000 | 300,000 | ' | ' | ' |
Investment gains or losses recognition period | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' |
Fair value of plan assets | 6,131,000 | 5,996,000 | 8,015,000 | ' | 5,600,000 | ' | 500,000 | ' | ' | ' | ' | ' |
Expected contribution to the Plan to meet minimum funding targets | 300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employer contributions | $302,000 | $292,000 | ' | ' | ' | ' | ' | ' | ' | $3,500,000 | $3,200,000 | $3,100,000 |
Postretirement_Benefits_Funded
Postretirement Benefits - Funded Status and Amounts Recognized in Consolidated Balance Sheet (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | ' | ' | ' |
Benefit obligation at beginning of year | $7,107 | $10,181 | ' |
Service cost | 406 | 604 | 787 |
Interest cost | 154 | 148 | 984 |
Actuarial loss (gain) | 968 | -670 | ' |
Benefits paid | -141 | -1,421 | ' |
Settlements paid | 0 | -1,383 | ' |
Curtailment gain | 0 | -500 | ' |
Foreign currency translation | -281 | 148 | ' |
Benefit obligation at end of year | 8,213 | 7,107 | 10,181 |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
Fair value of assets at beginning of year | 5,996 | 8,015 | ' |
Actual return on plan assets | 98 | 304 | ' |
Disbursements | -264 | -1,573 | ' |
Employer contributions | 302 | 292 | ' |
Employee contributions | 200 | 194 | ' |
Settlements paid | 0 | -1,383 | ' |
Foreign currency translation | -201 | 147 | ' |
Fair value of assets at end of year | 6,131 | 5,996 | 8,015 |
Accrued benefit liability | $2,082 | $1,111 | ' |
Postretirement_Benefits_Pensio
Postretirement Benefits - Pension Amounts Recorded Within Account Line Items of Balance Sheet (Detail) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||
Compensation and Retirement Disclosure [Abstract] | ' | ' |
Accrued compensation and benefits | $308 | $296 |
Long-term pension liability | $1,774 | $815 |
Postretirement_Benefits_Net_Pe
Postretirement Benefits - Net Periodic Pension Cost (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Compensation and Retirement Disclosure [Abstract] | ' | ' | ' |
Service cost | $406 | $604 | $787 |
Interest cost | 154 | 148 | 984 |
Expected return on assets | -214 | -247 | -1,072 |
Amortization of losses | 2 | 4 | 620 |
Other | 0 | 160 | 0 |
Net periodic pension cost | 348 | 669 | 1,319 |
Settlement loss | 0 | 87 | 8,937 |
Total pension cost | $348 | $756 | $10,256 |
Postretirement_Benefits_Other_
Postretirement Benefits - Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Loss (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Compensation and Retirement Disclosure [Abstract] | ' | ' |
Net loss (gain) | $961 | ($791) |
Amortization of net loss | -2 | -3 |
Curtailment loss | 0 | -675 |
Settlement loss | 0 | -87 |
Total recognized in other comprehensive income (loss) | 959 | -1,556 |
Total recognized in net periodic pension cost and other comprehensive income (loss) | $1,307 | ($887) |
Postretirement_Benefits_Weight
Postretirement Benefits - Weighted-Average Assumption Used to Determine Net Cost (Detail) | 12 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | |
Compensation and Retirement Disclosure [Abstract] | ' | ' | ' |
Discount rate | 1.55% | 2.15% | 3.51% |
Expected return on plan assets | 2.18% | 2.17% | 2.18% |
Rate of compensation increase | 1.87% | 1.89% | 1.84% |
Postretirement_Benefits_Asset_
Postretirement Benefits - Asset Allocation of Plan Assets of Non-U.S. Plans (Detail) (Non-U.S. Plans) | Sep. 30, 2014 |
Defined Benefit Plan Disclosure [Line Items] | ' |
Percentage of Plan Assets | 100.00% |
Debt Securities | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Percentage of Plan Assets | 73.00% |
Equity securities | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Percentage of Plan Assets | 6.00% |
Cash | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Percentage of Plan Assets | 2.00% |
Other Investments | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Percentage of Plan Assets | 19.00% |
Postretirement_Benefits_Fair_V
Postretirement Benefits - Fair Value of Pension Assets by Asset Category and by Level (Detail) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | |||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | $6,131 | $5,996 | $8,015 |
Other Investments | Swiss Life collective foundation | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 5,608 | ' | ' |
Other Investments | Taiwan collective trust | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 523 | ' | ' |
Level 2 | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 6,131 | ' | ' |
Level 2 | Other Investments | Swiss Life collective foundation | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | 5,608 | ' | ' |
Level 2 | Other Investments | Taiwan collective trust | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | $523 | ' | ' |
Postretirement_Benefits_Expect
Postretirement Benefits - Expected Benefit Payment Over Next Ten Years are Anticipated to be Paid (Detail) (USD $) | Sep. 30, 2014 |
In Thousands, unless otherwise specified | |
Compensation and Retirement Disclosure [Abstract] | ' |
2015 | $231 |
2016 | 54 |
2017 | 55 |
2018 | 56 |
2019 | 57 |
2020-2024 | $664 |
Stockholders_Equity_Additional
Stockholders' Equity - Additional Information (Detail) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 |
In Millions, except Share data, unless otherwise specified | Brooks Automation Asia | ||
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 | ' |
Investment [Line Items] | ' | ' | ' |
Payments to acquire ownership | ' | ' | $3.20 |
Consolidating interest | ' | ' | 100.00% |
Stockholders_Equity_Accumulate
Stockholders' Equity - Accumulated Other Comprehensive Income (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward] | ' | ' | ' |
Accumulated other comprehensive income (loss), net of tax, beginning of period | $22,604 | $23,642 | $17,324 |
Other comprehensive income before reclassifications | -6,798 | -1,104 | -2,604 |
Amounts reclassified from accumulated other comprehensive income | -119 | 66 | 8,922 |
Accumulated other comprehensive income (loss), net of tax, end of period | 15,687 | 22,604 | 23,642 |
Currency Translation Adjustments | ' | ' | ' |
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward] | ' | ' | ' |
Accumulated other comprehensive income (loss), net of tax, beginning of period | 22,398 | 24,511 | 26,917 |
Other comprehensive income before reclassifications | -6,296 | -2,113 | -2,406 |
Amounts reclassified from accumulated other comprehensive income | 0 | 0 | 0 |
Accumulated other comprehensive income (loss), net of tax, end of period | 16,102 | 22,398 | 24,511 |
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 | 66 | 201 | -192 |
Other comprehensive income before reclassifications | -78 | -114 | 408 |
Amounts reclassified from accumulated other comprehensive income | -26 | -21 | -15 |
Accumulated other comprehensive income (loss), net of tax, end of period | -38 | 66 | 201 |
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 | 14 | 0 | 0 |
Other comprehensive income before reclassifications | 79 | 14 | 0 |
Amounts reclassified from accumulated other comprehensive income | -93 | 0 | 0 |
Accumulated other comprehensive income (loss), net of tax, end of period | 0 | 14 | 0 |
Pension Liability Adjustments | ' | ' | ' |
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward] | ' | ' | ' |
Accumulated other comprehensive income (loss), net of tax, beginning of period | 126 | -1,070 | -9,401 |
Other comprehensive income before reclassifications | -503 | 1,109 | -606 |
Amounts reclassified from accumulated other comprehensive income | 0 | 87 | 8,937 |
Accumulated other comprehensive income (loss), net of tax, end of period | ($377) | $126 | ($1,070) |
Stock_Plans_Additional_Informa
Stock Plans - Additional Information (Detail) (USD $) | 12 Months Ended | 0 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | 0 Months Ended | |||||||||||||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Feb. 08, 2012 | Feb. 29, 1996 | Sep. 30, 2014 | Feb. 12, 1996 | Feb. 08, 2012 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Oct. 26, 2005 | Sep. 30, 2014 | |
Restricted stock | Restricted stock | Restricted stock | Performance Based | Performance Based | Performance Based | Employee Stock Purchase Plan, 1995 Plan | Employee Stock Purchase Plan, 1995 Plan | Employee Stock Purchase Plan, 1995 Plan | Employee Stock Purchase Plan, 1995 Plan | Employee Stock Purchase Plan, 1995 Plan | Equity Incentive Plan 2000 | Equity Incentive Plan 2000 | Equity Incentive Plan 2000 | Helix Stock Options | Helix Stock Options | ||||
Before Amendment | After Amendment | Restricted stock | Restricted stock | ||||||||||||||||
Maximum | Share Vesting Over Three Year Period | ||||||||||||||||||
Equity Incentive Plan [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Vesting period | ' | ' | ' | '3 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years | ' | ' | ' |
Shares of common stock reserved for issuance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,000,000 | ' | ' | ' | ' |
Options outstanding | 5,550 | 15,540 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | 689,622 | 5,550 |
Shares available for grant | 2,486,983 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,486,983 | ' | ' | ' | 0 |
Options to purchase Helix common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 765,480 | ' |
Closing stock price | $10.51 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total intrinsic value of options exercised | $0 | $19,000 | $56,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash received from employee stock option exercises | 0 | 67,000 | 103,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Awards granted (USD per share) | ' | ' | ' | $9.49 | $9.33 | $11.80 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of restricted stock awards vested | ' | ' | ' | 5,600,000 | 7,300,000 | 5,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrecognized compensation cost | ' | ' | ' | $17,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrecognized compensation cost, estimated weighted average amortization period | ' | ' | ' | '1 year 8 months 12 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity incentive plan vesting in year one, percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 33.33% | ' | ' | ' |
Equity incentive plan vesting in year two, percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 33.33% | 50.00% | ' | ' |
Equity incentive plan vesting in year three, percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 33.34% | 50.00% | ' | ' |
Employee stock purchase plan, offering period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '6 months | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum award over targeted number of awards | ' | ' | ' | ' | ' | ' | 200.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares that could vest under terms of award | ' | ' | ' | ' | ' | ' | 1,297,546 | 460,615 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares over the target grant | ' | ' | ' | ' | ' | ' | 458,796 | -216,760 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares of common stock available for purchase | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 649,355 | 3,000,000 | 4,000,000 | ' | ' | ' | ' | ' |
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 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,350,645 | ' | ' | ' | ' | ' | ' | ' |
Stock_Plans_Stock_Option_Activ
Stock Plans - Stock Option Activity (Detail) (USD $) | 12 Months Ended |
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2014 |
Number of Stock Options | ' |
Options outstanding at beginning of period (shares) | 15,540 |
Forfeited/expired | -9,990 |
Options outstanding at end of period (shares) | 5,550 |
Vested at end of year | 5,550 |
Options exercisable at end of period (shares) | 5,550 |
Options available for future grant | 2,486,983 |
Weighted-Average Remaining Contractual Term | ' |
Options outstanding at end of period | '4 months |
Vested at end of period | '4 months |
Options exercisable at end of period | '4 months |
Weighted Average Exercise Price | ' |
Options outstanding at beginning of period (USD per share) | $15.86 |
Forfeited/expired (USD per share) | $17.34 |
Options outstanding at end of year (USD per share) | $13.20 |
Vested at end of period (USD per share) | $13.20 |
Options exercisable at end of period (USD per share) | $13.20 |
Aggregate Intrinsic Value | ' |
Options outstanding at end of period | $0 |
Vested at end of period | 0 |
Options exercisable at end of period | $0 |
Stock_Plans_Restricted_Stock_A
Stock Plans - Restricted Stock Activity (Detail) (USD $) | 12 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | |
Shares | ' | ' | ' |
Awards granted | 1,517,057 | 1,471,977 | 1,887,419 |
Restricted stock | ' | ' | ' |
Shares | ' | ' | ' |
Outstanding at beginning of year | 2,915,413 | ' | ' |
Awards granted | 1,517,057 | ' | ' |
Awards vested (shares) | -592,857 | ' | ' |
Awards canceled | -1,113,128 | ' | ' |
Outstanding at end of year | 2,726,485 | 2,915,413 | ' |
Weighted Average Grant-Date Fair Value | ' | ' | ' |
Outstanding at beginning of period (USD per share) | 11.25 | ' | ' |
Awards granted (USD per share) | 9.49 | 9.33 | 11.8 |
Awards vested (USD per share) | 9.48 | ' | ' |
Awards canceled (USD per share) | 10.28 | ' | ' |
Outstanding at end of period (USD per share) | 11.05 | 11.25 | ' |
Time Based | ' | ' | ' |
Shares | ' | ' | ' |
Awards granted | 678,307 | 794,602 | 767,169 |
Performance Based | ' | ' | ' |
Shares | ' | ' | ' |
Awards granted | 838,750 | 677,375 | 1,120,250 |
Restructuring_and_Other_Charge2
Restructuring and Other Charges - Additional Information (Detail) (USD $) | 12 Months Ended | |||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | |
employee | employee | Employee | ||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Restructuring charges | $6,289,000 | $6,293,000 | ' | ' |
Restructuring and other charges | 6,289,000 | 6,380,000 | 3,153,000 | ' |
Restructuring reserve to be paid | 3,475,000 | 1,412,000 | 2,098,000 | ' |
Nexus Plan | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Partial settlement of defined pension plan | ' | 100,000 | ' | ' |
Workforce-related | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Restructuring charges | 5,706,000 | 5,475,000 | 3,153,000 | ' |
Number of employees impacted by workforce reductions | 70 | 200 | 0 | ' |
Restructuring reserve to be paid | 3,404,000 | 1,257,000 | 2,098,000 | 293,000 |
Workforce-related | Polycold Manufacturing Operation | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Restructuring charges | 1,200,000 | ' | ' | ' |
Workforce-related | Brooks Product Solutions | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Restructuring charges | 2,400,000 | 2,500,000 | 1,200,000 | ' |
Workforce-related | Brooks Global Services | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Restructuring charges | 400,000 | 1,100,000 | 1,000,000 | ' |
Workforce-related | Brooks Life Science Systems | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Restructuring charges | 1,600,000 | 400,000 | 300,000 | ' |
Number of employees impacted by workforce reductions | ' | ' | 0 | ' |
Workforce-related | Corporate Support functions | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Restructuring charges | 1,300,000 | 1,500,000 | 700,000 | ' |
Facilities and other | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Restructuring charges | 583,000 | 818,000 | ' | ' |
Inventory Write-down | 300,000 | ' | ' | ' |
Restructuring reserve to be paid | $71,000 | $155,000 | $0 | ' |
Restructuring_and_Other_Charge3
Restructuring and Other Charges - Activity Related to Restructuring Accruals (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Restructuring Reserve [Roll Forward] | ' | ' | ' |
Beginning Balance | $1,412 | $2,098 | ' |
Expense | 6,289 | 6,293 | ' |
Utilization | -4,226 | -6,979 | ' |
Ending Balance | 3,475 | 1,412 | ' |
Facilities and other | ' | ' | ' |
Restructuring Reserve [Roll Forward] | ' | ' | ' |
Beginning Balance | 155 | 0 | ' |
Expense | 583 | 818 | ' |
Utilization | -667 | -663 | ' |
Ending Balance | 71 | 155 | ' |
Workforce-related | ' | ' | ' |
Restructuring Reserve [Roll Forward] | ' | ' | ' |
Beginning Balance | 1,257 | 2,098 | 293 |
Expense | 5,706 | 5,475 | 3,153 |
Utilization | -3,559 | -6,316 | -1,348 |
Ending Balance | $3,404 | $1,257 | $2,098 |
Segment_and_Geographic_Informa2
Segment and Geographic Information - Additional Information (Detail) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2014 |
Segment | |
Segment Reporting [Abstract] | ' |
Number of reportable segments | 3 |
Securities Litigation | ' |
Segment Reporting Information [Line Items] | ' |
Insurance Recoveries | 3.3 |
Segment_and_Geographic_Informa3
Segment and Geographic Information - Financial Information for Business Segments (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Revenue | ' | ' | ' |
Product | $387,032 | $335,011 | $402,505 |
Services | 95,816 | 87,429 | 86,478 |
Total revenue | 482,848 | 422,440 | 488,983 |
Gross profit | 167,337 | 132,307 | 159,453 |
Segment operating income (loss) | -2,699 | -16,798 | 1,642 |
Depreciation expense | 12,700 | 13,700 | 13,100 |
Total assets | 778,038 | 736,763 | ' |
Brooks Product Solutions | ' | ' | ' |
Revenue | ' | ' | ' |
Product | 325,639 | 290,523 | 351,432 |
Services | 0 | 0 | 0 |
Total revenue | 325,639 | 290,523 | 351,432 |
Gross profit | 111,746 | 91,255 | 113,945 |
Segment operating income (loss) | 10,836 | 1,116 | 13,330 |
Depreciation expense | 8,316 | 8,698 | 8,600 |
Total assets | 252,944 | 226,759 | ' |
Brooks Global Services | ' | ' | ' |
Revenue | ' | ' | ' |
Product | 14,978 | 13,152 | 11,324 |
Services | 79,083 | 75,477 | 73,616 |
Total revenue | 94,061 | 88,629 | 84,940 |
Gross profit | 32,168 | 26,912 | 25,093 |
Segment operating income (loss) | 12,451 | 9,592 | 8,898 |
Depreciation expense | 2,361 | 2,746 | 2,344 |
Total assets | 58,678 | 59,762 | ' |
Brooks Life Science Systems | ' | ' | ' |
Revenue | ' | ' | ' |
Product | 46,415 | 31,336 | 39,749 |
Services | 16,733 | 11,952 | 12,862 |
Total revenue | 63,148 | 43,288 | 52,611 |
Gross profit | 23,423 | 14,140 | 20,415 |
Segment operating income (loss) | -8,431 | -12,380 | -3,139 |
Depreciation expense | 2,022 | 2,256 | 2,111 |
Total assets | 103,498 | 105,221 | ' |
Operating Segments, Total | ' | ' | ' |
Revenue | ' | ' | ' |
Product | 387,032 | 335,011 | 402,505 |
Services | 95,816 | 87,429 | 86,478 |
Total revenue | 482,848 | 422,440 | 488,983 |
Gross profit | 167,337 | 132,307 | 159,453 |
Segment operating income (loss) | 14,856 | -1,672 | 19,089 |
Depreciation expense | 12,699 | 13,700 | 13,055 |
Total assets | $415,120 | $391,742 | ' |
Segment_and_Geographic_Informa4
Segment and Geographic Information - Reconciliation of Reportable Segment Operating Income and Segment Assets to Corresponding Consolidated Amounts (Detail) (USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | |||
Income Reconciliation | ' | ' | ' | |||
Segment operating income (loss) | ($2,699) | ($16,798) | $1,642 | |||
Other unallocated corporate expenses | 5,096 | [1] | 3,002 | [1] | -1,833 | [1] |
Amortization of acquired intangible assets | 6,170 | 5,694 | 4,164 | |||
Impairment of acquired intangible assets | 0 | 50 | 0 | |||
Restructuring and other charges | 6,289 | 6,380 | 3,153 | |||
Pension settlement | 0 | 0 | 8,937 | |||
In-process research and development | 0 | 0 | 3,026 | |||
Operating income (loss) | -2,699 | -16,798 | 1,642 | |||
Asset Reconciliation | ' | ' | ' | |||
Segment Assets | 778,038 | 736,763 | ' | |||
Cash, cash equivalents, restricted cash and marketable securities | 245,456 | 173,539 | ' | |||
Deferred tax assets | 86,572 | 115,985 | ' | |||
Assets held for sale | 0 | 27,778 | ' | |||
Equity method investments | 28,944 | 25,687 | ' | |||
Other unallocated corporate net assets | 1,946 | 2,032 | ' | |||
Total assets | 778,038 | 736,763 | ' | |||
Operating Segments, Total | ' | ' | ' | |||
Income Reconciliation | ' | ' | ' | |||
Segment operating income (loss) | 14,856 | -1,672 | 19,089 | |||
Operating income (loss) | 14,856 | -1,672 | 19,089 | |||
Asset Reconciliation | ' | ' | ' | |||
Segment Assets | 415,120 | 391,742 | ' | |||
Total assets | $415,120 | $391,742 | ' | |||
[1] | Other unallocated corporate expenses for the fiscal year ended September 30, 2012 includes a credit of $3.3 million related to insurance proceeds received as reimbursement of litigation costs previously incurred. |
Segment_and_Geographic_Informa5
Segment and Geographic Information - Net Revenues based upon Source of Order by Geographic Area (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' |
Net Revenues | $482,848 | $422,440 | $488,983 |
North America | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' |
Net Revenues | 174,343 | 177,779 | 214,060 |
Asia/Pacific | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' |
Net Revenues | 198,695 | 154,358 | 183,406 |
Europe | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' |
Net Revenues | $109,810 | $90,303 | $91,517 |
Segment_and_Geographic_Informa6
Segment and Geographic Information - Long-Lived Assets, Consisting of Property, Plant and Equipment by Geographic Area (Detail) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||
Long-Lived Assets by Geographical Areas [Line Items] | ' | ' |
Property, plant and equipment, net | $50,183 | $47,506 |
North America | ' | ' |
Long-Lived Assets by Geographical Areas [Line Items] | ' | ' |
Property, plant and equipment, net | 40,232 | 38,505 |
Asia/Pacific | ' | ' |
Long-Lived Assets by Geographical Areas [Line Items] | ' | ' |
Property, plant and equipment, net | 870 | 1,646 |
Europe | ' | ' |
Long-Lived Assets by Geographical Areas [Line Items] | ' | ' |
Property, plant and equipment, net | $9,081 | $7,355 |
Significant_Customers_Addition
Significant Customers - Additional Information (Detail) | 12 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | |
customer | |||
Risks and Uncertainties [Abstract] | ' | ' | ' |
Number of major customer by revenue | 1 | ' | ' |
Percentage of revenues by customer | 11.00% | 11.00% | 13.00% |
Other_Balance_Sheet_Informatio2
Other Balance Sheet Information - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | |
Valuation and Qualifying Accounts Disclosure [Line Items] | ' | ' | ' |
Inventory Valuation Reserves | $26,000,000 | $24,200,000 | ' |
Inventory Valuation Reserve | ' | ' | ' |
Valuation and Qualifying Accounts Disclosure [Line Items] | ' | ' | ' |
Charges/credits to reserves for excess and obsolete inventory | 6,900,000 | 5,400,000 | 4,300,000 |
Reduction in reserves for excess and obsolete inventory | $5,100,000 | $4,300,000 | $5,800,000 |
Other_Balance_Sheet_Informatio3
Other Balance Sheet Information - Summary of Accounts Receivable (Detail) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||
Accounts Receivable, Net [Abstract] | ' | ' |
Accounts receivable | $81,270 | $78,460 |
Accounts receivable, net | 80,106 | 77,483 |
Allowance for doubtful accounts | ' | ' |
Accounts Receivable, Net [Abstract] | ' | ' |
Less allowances | -1,031 | -863 |
Allowance for sales returns | ' | ' |
Accounts Receivable, Net [Abstract] | ' | ' |
Less allowances | ($133) | ($114) |
Other_Balance_Sheet_Informatio4
Other Balance Sheet Information - Allowance for Doubtful Accounts Activity (Detail) (Allowance for doubtful accounts, USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Allowance for doubtful accounts | ' | ' | ' |
Valuation and Qualifying Accounts Disclosure [Line Items] | ' | ' | ' |
Balance at Beginning of Period | $863 | $851 | $617 |
Provisions | 438 | 48 | 367 |
Reversals of Bad Debt Expense | -315 | -143 | -130 |
Write-offs and Adjustments | 45 | 107 | -3 |
Balance at End of Period | $1,031 | $863 | $851 |
Other_Balance_Sheet_Informatio5
Other Balance Sheet Information - Allowance for Sales Returns (Details) (Allowance for sales returns, USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Allowance for sales returns | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Balance at Beginning of Period | $114 | $0 |
Provisions | 19 | 72 |
Write-offs and Adjustments | 0 | 42 |
Balance at End of Period | $133 | $114 |
Other_Balance_Sheet_Informatio6
Other Balance Sheet Information - Summary of Inventories (Detail) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||
Inventories | ' | ' |
Raw materials and purchased parts | $57,250 | $57,678 |
Work-in-process | 20,068 | 19,991 |
Finished goods | 16,249 | 16,742 |
Inventory, net | $93,567 | $94,411 |
Other_Balance_Sheet_Informatio7
Other Balance Sheet Information - Product Warranty and Retrofit Activity on Gross Basis (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | ' | ' |
Balance at beginning of year | $7,260 | $7,246 | $7,438 |
Adjustments for acquisitions and divestitures | 364 | 1,187 | 7 |
Accruals for warranties during the year | 9,969 | 9,968 | 13,551 |
Costs incurred | -11,094 | -11,141 | -13,750 |
Balance at end of year | $6,499 | $7,260 | $7,246 |
Sale_of_Building_and_Land_Addi
Sale of Building and Land - Additional Information (Detail) (USD $) | 0 Months Ended | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 27, 2013 | Sep. 27, 2013 | Sep. 30, 2014 |
Chelmsford, Massachusetts Campus | Chelmsford, Massachusetts Campus | Oberdiessbach, Switzerland | |
Real Estate Properties [Line Items] | ' | ' | ' |
Proceeds from sale of buildings | $11,275 | ' | $3,200 |
Unamortized deferred leasing costs | ' | 3,718 | ' |
Gain on sale of assets | $1,025 | ' | $200 |
Sale_of_Building_and_Land_Sche
Sale of Building and Land - Schedule of realized gain on sale of building and land (Detail) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 27, 2013 | Sep. 27, 2013 | Sep. 27, 2013 |
In Thousands, unless otherwise specified | Chelmsford, Massachusetts Campus | Chelmsford, Massachusetts Campus | Chelmsford, Massachusetts Campus | ||
Buildings and land | |||||
Real Estate Properties [Line Items] | ' | ' | ' | ' | ' |
Sale proceeds | ' | ' | $11,275 | ' | ' |
Net book value of building and land | -50,183 | -47,506 | ' | ' | -6,095 |
Amortization of Deferred Leasing Fees | ' | ' | ' | -3,718 | ' |
Direct transaction costs | ' | ' | -437 | ' | ' |
Gain on the sale of building and land | ' | ' | $1,025 | ' | ' |
Commitments_and_Contingencies_1
Commitments and Contingencies - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Guarantor Obligations [Line Items] | ' | ' | ' |
Accumulated amortization | $0.10 | ' | ' |
Rental expense under operating leases | 8.2 | 8.4 | 4.8 |
Outstanding letters of credit | 21.1 | ' | ' |
Non-cancelable contracts and purchase orders for inventory | 71 | ' | ' |
Mexico | ' | ' | ' |
Guarantor Obligations [Line Items] | ' | ' | ' |
Remaining payments under lease guarantee | 1.4 | ' | ' |
Building [Member] | ' | ' | ' |
Guarantor Obligations [Line Items] | ' | ' | ' |
Capital leases included in balance sheet | 6.4 | ' | ' |
Land [Member] | ' | ' | ' |
Guarantor Obligations [Line Items] | ' | ' | ' |
Capital leases included in balance sheet | $2.10 | ' | ' |
Commitments_and_Contingencies_2
Commitments and Contingencies - Future Minimum Capital Lease Commitments (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||
Commitments and Contingencies Disclosure [Abstract] | ' | ' |
2015 | $881 | ' |
2016 | 881 | ' |
2017 | 881 | ' |
2018 | 6,901 | ' |
Total minimum lease payments | 9,544 | ' |
Less amounts representing interest | 1,246 | ' |
Total capital lease obligation | 8,298 | ' |
Less current portion of capital lease obligation | -881 | 0 |
Long-term capital lease obligation | $7,417 | $0 |
Commitments_and_Contingencies_3
Commitments and Contingencies - Future Minimum Lease Commitments on Non-Cancelable Operating Leases, Lease Income and Sublease Income (Detail) (USD $) | Sep. 30, 2014 |
In Thousands, unless otherwise specified | |
Operating Lease | ' |
Year ended September 30, 2014 | $5,140 |
2015 | 3,384 |
2016 | 1,748 |
2017 | 1,401 |
2018 | 706 |
Thereafter | 93 |
Future minimum lease commitments, total | $12,472 |
Subsequent_Events_Additional_I
Subsequent Events - Additional Information (Detail) (USD $) | 12 Months Ended | 0 Months Ended | |||
In Millions, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Nov. 05, 2014 | Oct. 01, 2014 |
Subsequent Event | FluidX [Member] | ||||
Subsequent Event | |||||
Subsequent Event [Line Items] | ' | ' | ' | ' | ' |
Payment price | ' | ' | ' | ' | $16 |
Dividend declared per share (USD per share) | $0.34 | $0.32 | $0.32 | $0.10 | ' |