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Quarterly Financial Information-Unaudited

12 Months Ended

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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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.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef



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-Name Accounting Standards Codification



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