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Quarterly Financial Information-Unaudited | 12 Months Ended
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Sep. 30, 2015
Quarterly Financial Information-Unaudited |
Quarterly Financial Information-Unaudited | 22. Quarterly Financial Information—Unaudited In the opinion of management, the following unaudited quarterly data reflects all adjustments necessary for a fair statement of the results of operations. All such adjustments are of a normal recurring nature.
Fiscal Year 2015: |  | First Quarter |  | Second Quarter |  | Third Quarter |  | Fourth Quarter |
|  | (in millions, except per share data) |
Revenue |  | $ | 4,210.5 |  | $ | 4,506.2 |  | $ | 4,549.5 |  | $ | 4,723.7 |
Cost of revenue |  |  | 4,075.7 |  |  | 4,403.0 |  |  | 4,422.9 |  |  | 4,553.1 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Gross profit |  |  | 134.8 |  |  | 103.2 |  |  | 126.6 |  |  | 170.6 |
Equity in earnings of joint ventures |  |  | 23.9 |  |  | 24.7 |  |  | 27.7 |  |  | 29.9 |
General and administrative expenses |  |  | (34.3 | ) |  | (29.8 | ) |  | (24.4 | ) |  | (25.5 | )
Acquisition and integration expenses |  |  | (138.5 | ) |  | (91.6 | ) |  | (88.5 | ) |  | (79.8 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Income from operations |  |  | (14.1 | ) |  | 6.5 |  |  | 41.4 |  |  | 95.2 |
Other income (expenses) |  |  | 2.6 |  |  | (1.0 | ) |  | 10.1 |  |  | 7.4 |
Interest expense |  |  | (118.7 | ) |  | (60.7 | ) |  | (60.2 | ) |  | (60.0 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(Loss) income before income tax expense |  |  | (130.2 | ) |  | (55.2 | ) |  | (8.7 | ) |  | 42.6 |
Income tax (benefit) expense |  |  | (12.1 | ) |  | (75.8 | ) |  | (8.5 | ) |  | 16.1 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net (loss) income |  |  | (118.1 | ) |  | 20.6 |  |  | (0.2 | ) |  | 26.5 |
Noncontrolling interest in income of consolidated subsidiaries, net of tax |  |  | (20.9 | ) |  | (20.3 | ) |  | (17.0 | ) |  | (25.4 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net (loss) income attributable to AECOM |  | $ | (139.0 | ) | $ | 0.3 |  | $ | (17.2 | ) | $ | 1.1 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net (loss) income attributable to AECOM per share: |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | (0.98 | ) | $ | — |  | $ | (0.11 | ) | $ | 0.01 |
Diluted |  | $ | (0.98 | ) | $ | — |  | $ | (0.11 | ) | $ | 0.01 |
Weighted average common shares outstanding: |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  |  | 141.9 |  |  | 151.1 |  |  | 151.7 |  |  | 153.8 |
Diluted |  |  | 141.9 |  |  | 152.8 |  |  | 151.7 |  |  | 155.2 |
During the three months ended March 31, 2015, the Company updated certain provisional amounts reflected in the preliminary purchase price allocation of URS. These measurement period adjustments require the revision of comparative financial information for the quarter ended December 31, 2014, and are reflected in the above results of operations. The adjustments to intangible assets increased amortization expense for the three months ended December 31, 2014 by $53.9 million. The adjustments to the margin fair value liability increased revenue for the three months ended December 31, 2014 by $24.5 million. The net effect of these adjustments to noncontrolling interests was a decrease of $2.3 million for the three months ended December 31, 2014. See also Note 4, Business Acquisitions, Goodwill, and Intangible Assets.
Fiscal Year 2014: |  | First Quarter |  | Second Quarter |  | Third Quarter |  | Fourth Quarter |
|  | (in millions, except per share data) |
Revenue |  | $ | 1,953.9 |  | $ | 1,872.2 |  | $ | 1,968.2 |  | $ | 2,562.5 |
Cost of revenue |  |  | 1,875.7 |  |  | 1,784.8 |  |  | 1,859.7 |  |  | 2,433.4 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Gross profit |  |  | 78.2 |  |  | 87.4 |  |  | 108.5 |  |  | 129.1 |
Equity in earnings of joint ventures |  |  | 36.1 |  |  | 7.4 |  |  | 6.0 |  |  | 8.4 |
General and administrative expenses |  |  | (23.9 | ) |  | (26.4 | ) |  | (15.1 | ) |  | (15.5 | )
Acquisition and integration expenses |  |  | — |  |  | — |  |  | (7.8 | ) |  | (19.5 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Income from operations |  |  | 90.4 |  |  | 68.4 |  |  | 91.6 |  |  | 102.5 |
Other income (expenses) |  |  | — |  |  | (0.2 | ) |  | 1.0 |  |  | 1.9 |
Interest expense |  |  | (10.4 | ) |  | (10.5 | ) |  | (9.8 | ) |  | (10.1 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Income before income tax expense |  |  | 80.0 |  |  | 57.7 |  |  | 82.8 |  |  | 94.3 |
Income tax expense |  |  | 23.5 |  |  | 15.2 |  |  | 13.7 |  |  | 29.6 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net income |  |  | 56.5 |  |  | 42.5 |  |  | 69.1 |  |  | 64.7 |
Noncontrolling interest in income of consolidated subsidiaries, net of tax |  |  | (0.1 | ) |  | (2.3 | ) |  | 0.1 |  |  | (0.6 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net income attributable to AECOM |  | $ | 56.4 |  | $ | 40.2 |  | $ | 69.2 |  | $ | 64.1 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net income attributable to AECOM per share: |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.59 |  | $ | 0.41 |  | $ | 0.71 |  | $ | 0.65 |
Diluted |  | $ | 0.58 |  | $ | 0.41 |  | $ | 0.70 |  | $ | 0.64 |
Weighted average common shares outstanding: |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  |  | 96.3 |  |  | 97.0 |  |  | 97.5 |  |  | 98.1 |
Diluted |  |  | 97.6 |  |  | 98.3 |  |  | 99.0 |  |  | 99.7 |

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- Definition The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e765-108305 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a)-(j) -URI http://asc.fasb.org/extlink&oid=35737889&loc=d3e1280-108306 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e725-108305 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 6 -Section G -Subsection 1 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 302 -Paragraph a + Details
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