XML 52 R32.htm IDEA: XBRL DOCUMENT
v3.2.0.727

Condensed Consolidated Financial Statements | 12 Months Ended
--- | ---
Sep. 30, 2014
Condensed Consolidating Financial Information |
Condensed Consolidated Financial Statements | 25. Condensed Consolidating Financial Information As discussed in Note 24, Subsequent Events, on October 6, 2014, AECOM issued $800.0 million aggregate principal amount of its 2022 Notes and $800.0 million aggregate principal amount of its 2024 Notes in a transaction exempt from the registration requirements of the Securities Act of 1933, as amended (the Securities Act). AECOM is filing a Registration Statement on Form S-4 relating to an offer to exchange the Notes for new 5.75% Senior Notes due 2022 and 5.875% Senior Notes due 2024 that will be registered under the Securities Act. The Notes are, and the new registered notes will be, fully and unconditionally guaranteed on a joint and several basis by certain of AECOM’s directly and indirectly 100% owned subsidiaries (the Subsidiary Guarantors). Other than customary restrictions imposed by applicable statutes, there are no restrictions on the ability of the Subsidiary Guarantors to transfer funds to AECOM in the form of cash dividends, loans or advances. In connection with the exchange offer, AECOM and the Subsidiary Guarantors will become subject to the requirements of Rule 3-10 of Regulation S-X regarding financial statements of guarantors and issuers of guaranteed securities registered or being registered with the Securities and Exchange Commission. The following condensed consolidating financial information, which is presented for AECOM, the Subsidiary Guarantors on a combined basis and AECOM’s non-guarantor subsidiaries on a combined basis, is provided to satisfy the disclosure requirements of Rule 3-10 of Regulation S-X. Condensed Consolidating Balance Sheets (in millions) September 30, 2014
|  | Parent |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Total |
ASSETS |  |  |  |  |  |  |  |  |  |  |
CURRENT ASSETS: |  |  |  |  |  |  |  |  |  |  |
Total cash and cash equivalents |  | $ | 33.4 |  | $ | 85.8 |  | $ | 455.0 |  | $ | — |  | $ | 574.2 |
Accounts receivable—net |  | — |  | 907.4 |  | 1,747.6 |  | — |  | 2,655.0 |
Intercompany receivable |  | 363.8 |  | 107.8 |  | 211.1 |  | (682.7 | ) | — |
Prepaid expenses and other current assets |  | 19.7 |  | 20.5 |  | 137.3 |  | — |  | 177.5 |
Income taxes receivable |  | — |  | — |  | 1.7 |  | (0.2 | ) | 1.5 |
Deferred tax assets—net |  | 42.0 |  | — |  | 45.1 |  | (61.2 | ) | 25.9 |
TOTAL CURRENT ASSETS |  | 458.9 |  | 1,121.5 |  | 2,597.8 |  | (744.1 | ) | 3,434.1 |
PROPERTY AND EQUIPMENT—NET |  | 53.6 |  | 90.6 |  | 137.8 |  | — |  | 282.0 |
DEFERRED TAX ASSETS—NET |  | 36.1 |  | 42.3 |  | 64.1 |  | (24.5 | ) | 118.0 |
INVESTMENTS IN CONSOLIDATED SUBS |  | 3,001.3 |  | 440.8 |  | — |  | (3,442.1 | ) | — |
INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES |  | — |  | 31.9 |  | 111.0 |  | — |  | 142.9 |
GOODWILL |  | — |  | 1,011.8 |  | 925.5 |  | — |  | 1,937.3 |
INTANGIBLE ASSETS—NET |  | — |  | 29.0 |  | 61.2 |  | — |  | 90.2 |
OTHER NON-CURRENT ASSETS |  | 15.6 |  | 3.0 |  | 100.3 |  | — |  | 118.9 |
TOTAL ASSETS |  | $ | 3,565.5 |  | $ | 2,770.9 |  | $ | 3,997.7 |  | $ | (4,210.7 | ) | $ | 6,123.4 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |  |  |
CURRENT LIABILITIES: |  |  |  |  |  |  |  |  |  |  |
Short-term debt |  | $ | 9.9 |  | $ | 1.0 |  | $ | 13.0 |  | $ | — |  | $ | 23.9 |
Accounts payable |  | 26.3 |  | 405.1 |  | 615.8 |  | — |  | 1,047.2 |
Accrued expenses and other current liabilities |  | 136.2 |  | 265.8 |  | 562.8 |  | (0.2 | ) | 964.6 |
Intercompany payables and notes |  | 157.7 |  | 460.0 |  | 73.1 |  | (690.8 | ) | — |
Billings in excess of costs on uncompleted contracts |  | — |  | 87.0 |  | 292.6 |  | — |  | 379.6 |
Deferred tax liability — net |  | — |  | 61.2 |  | — |  | (61.2 | ) | — |
Current portion of long-term debt |  | 37.5 |  | — |  | 3.0 |  | — |  | 40.5 |
TOTAL CURRENT LIABILITIES |  | 367.6 |  | 1,280.1 |  | 1,560.3 |  | (752.2 | ) | 2,455.8 |
OTHER LONG-TERM LIABILITIES |  | 80.5 |  | 48.0 |  | 327.0 |  | — |  | 455.5 |
DEFERRED TAX LIABILITY — NET |  | — |  | — |  | 24.5 |  | (24.5 | ) | — |
LONG-TERM DEBT |  | 938.9 |  | — |  | 0.7 |  | — |  | 939.6 |
TOTAL LIABILITIES |  | 1,387.0 |  | 1,328.1 |  | 1,912.5 |  | (776.7 | ) | 3,850.9 |
TOTAL AECOM STOCKHOLDERS’ EQUITY |  | 2,178.5 |  | 1,442.8 |  | 1,999.2 |  | (3,434.0 | ) | 2,186.5 |
Noncontrolling interests |  | — |  | — |  | 86.0 |  | — |  | 86.0 |
TOTAL STOCKHOLDERS’ EQUITY |  | 2,178.5 |  | 1,442.8 |  | 2,085.2 |  | (3,434.0 | ) | 2,272.5 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY |  | $ | 3,565.5 |  | $ | 2,770.9 |  | $ | 3,997.7 |  | $ | (4,210.7 | ) | $ | 6,123.4 |
Condensed Consolidating Balance Sheets (in millions) September 30, 2013
|  | Parent |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Total |
ASSETS |  |  |  |  |  |  |  |  |  |  |
CURRENT ASSETS: |  |  |  |  |  |  |  |  |  |  |
Total cash and cash equivalents |  | $ | 4.4 |  | $ | 80.2 |  | $ | 516.1 |  | $ | — |  | $ | 600.7 |
Accounts receivable—net |  | — |  | 976.6 |  | 1,365.7 |  | — |  | 2,342.3 |
Intercompany receivable |  | 321.1 |  | 142.0 |  | 258.4 |  | (721.5 | ) | — |
Prepaid expenses and other current assets |  | 7.8 |  | 18.6 |  | 142.3 |  | — |  | 168.7 |
Deferred tax assets—net |  | 51.5 |  | — |  | 34.3 |  | (65.9 | ) | 19.9 |
TOTAL CURRENT ASSETS |  | 384.8 |  | 1,217.4 |  | 2,316.8 |  | (787.4 | ) | 3,131.6 |
PROPERTY AND EQUIPMENT—NET |  | 42.3 |  | 96.4 |  | 132.0 |  | — |  | 270.7 |
DEFERRED TAX ASSETS—NET |  | 29.1 |  | 44.1 |  | 70.3 |  | — |  | 143.5 |
INVESTMENTS IN CONSOLIDATED SUBS |  | 3,136.8 |  | 521.8 |  | — |  | (3,658.6 | ) | — |
INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES |  | — |  | 47.7 |  | 58.7 |  | — |  | 106.4 |
GOODWILL |  | — |  | 1,011.8 |  | 800.0 |  | — |  | 1,811.8 |
INTANGIBLE ASSETS—NET |  | — |  | 39.5 |  | 43.6 |  | — |  | 83.1 |
OTHER NON-CURRENT ASSETS |  | 9.0 |  | 4.1 |  | 105.4 |  | — |  | 118.5 |
TOTAL ASSETS |  | $ | 3,602.0 |  | $ | 2,982.8 |  | $ | 3,526.8 |  | $ | (4,446.0 | ) | $ | 5,665.6 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |  |  |
CURRENT LIABILITIES: |  |  |  |  |  |  |  |  |  |  |
Short-term debt |  | $ | 29.4 |  | $ | 0.2 |  | $ | — |  | $ | — |  | $ | 29.6 |
Accounts payable |  | 11.3 |  | 394.5 |  | 319.6 |  | — |  | 725.4 |
Accrued expenses and other current liabilities |  | 173.0 |  | 250.3 |  | 498.0 |  | — |  | 921.3 |
Intercompany payables and notes |  | 192.6 |  | 400.9 |  | 140.0 |  | (733.5 | ) | — |
Billings in excess of costs on uncompleted contracts |  | — |  | 89.3 |  | 233.2 |  | — |  | 322.5 |
Deferred tax liability - net |  | — |  | 65.9 |  | — |  | (65.9 | ) | — |
Current portion of long-term debt |  | 37.5 |  | 15.8 |  | 1.4 |  | — |  | 54.7 |
TOTAL CURRENT LIABILITIES |  | 443.8 |  | 1,216.9 |  | 1,192.2 |  | (799.4 | ) | 2,053.5 |
OTHER LONG-TERM LIABILITIES |  | 61.4 |  | 52.8 |  | 334.7 |  | — |  | 448.9 |
LONG-TERM DEBT |  | 1,087.4 |  | — |  | 1.7 |  | — |  | 1,089.1 |
TOTAL LIABILITIES |  | 1,592.6 |  | 1,269.7 |  | 1,528.6 |  | (799.4 | ) | 3,591.5 |
TOTAL AECOM STOCKHOLDERS’ EQUITY |  | 2,009.4 |  | 1,713.1 |  | 1,945.5 |  | (3,646.6 | ) | 2,021.4 |
Noncontrolling interests |  | — |  | — |  | 52.7 |  | — |  | 52.7 |
TOTAL STOCKHOLDERS’ EQUITY |  | 2,009.4 |  | 1,713.1 |  | 1,998.2 |  | (3,646.6 | ) | 2,074.1 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY |  | $ | 3,602.0 |  | $ | 2,982.8 |  | $ | 3,526.8 |  | $ | (4,446.0 | ) | $ | 5,665.6 |
Condensed Consolidating Statements of Income (in millions)
|  | For the Fiscal Year Ended September 30, 2014 |
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total |
Revenue |  | $ | — |  | $ | 3,609.4 |  | $ | 4,781.9 |  | $ | (34.5 | ) | $ | 8,356.8 |
Cost of revenue |  | — |  | 3,451.6 |  | 4,536.5 |  | (34.5 | ) | 7,953.6 |
Gross profit |  | — |  | 157.8 |  | 245.4 |  | — |  | 403.2 |
Equity in earnings from subsidiaries |  | 346.7 |  | 40.9 |  | — |  | (387.6 | ) | — |
Equity in earnings of joint ventures |  | — |  | 15.0 |  | 42.9 |  | — |  | 57.9 |
General and administrative expenses |  | (80.9 | ) | — |  | — |  | — |  | (80.9 | )
Acquisition and integration expenses |  | (27.3 | ) | — |  | — |  | — |  | (27.3 | )
Income from operations |  | 238.5 |  | 213.7 |  | 288.3 |  | (387.6 | ) | 352.9 |
Other income |  | 0.5 |  | 0.9 |  | 2.0 |  | (0.7 | ) | 2.7 |
Interest expense |  | (37.7 | ) | (0.7 | ) | (3.1 | ) | 0.7 |  | (40.8 | )
Income before income tax expense |  | 201.3 |  | 213.9 |  | 287.2 |  | (387.6 | ) | 314.8 |
Income tax (benefit) expense |  | (28.6 | ) | 34.3 |  | 69.5 |  | 6.8 |  | 82.0 |
Net income |  | 229.9 |  | 179.6 |  | 217.7 |  | (394.4 | ) | 232.8 |
Noncontrolling interests in income of consolidated subsidiaries, net of tax |  | — |  | — |  | (2.9 | ) | — |  | (2.9 | )
Net income attributable to AECOM |  | $ | 229.9 |  | $ | 179.6 |  | $ | 214.8 |  | $ | (394.4 | ) | $ | 229.9 |
|  | For the Fiscal Year Ended September 30, 2013 |
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total |
Revenue |  | $ | — |  | $ | 3,784.1 |  | $ | 4,410.5 |  | $ | (41.1 | ) | $ | 8,153.5 |
Cost of revenue |  | — |  | 3,617.5 |  | 4,127.1 |  | (41.1 | ) | 7,703.5 |
Gross profit |  | — |  | 166.6 |  | 283.4 |  | — |  | 450.0 |
Equity in earnings from subsidiaries |  | 334.3 |  | 51.1 |  | — |  | (385.4 | ) | — |
Equity in earnings of joint ventures |  | — |  | 12.7 |  | 11.6 |  | — |  | 24.3 |
General and administrative expenses |  | (97.3 | ) | — |  | — |  | — |  | (97.3 | )
Income from operations |  | 237.0 |  | 230.4 |  | 295.0 |  | (385.4 | ) | 377.0 |
Other income |  | 1.4 |  | — |  | 2.4 |  | (0.3 | ) | 3.5 |
Interest expense |  | (43.2 | ) | (0.1 | ) | (1.7 | ) | 0.3 |  | (44.7 | )
Income before income tax expense |  | 195.2 |  | 230.3 |  | 295.7 |  | (385.4 | ) | 335.8 |
Income tax (benefit) expense |  | (44.1 | ) | 51.5 |  | 78.4 |  | 6.8 |  | 92.6 |
Net income |  | 239.3 |  | 178.8 |  | 217.3 |  | (392.2 | ) | 243.2 |
Noncontrolling interests in income of consolidated subsidiaries, net of tax |  | — |  | — |  | (4.0 | ) | — |  | (4.0 | )
Net income attributable to AECOM |  | $ | 239.3 |  | $ | 178.8 |  | $ | 213.3 |  | $ | (392.2 | ) | $ | 239.2 |
Condensed Consolidating Statements of Income (in millions)
|  | For the Fiscal Year Ended September 30, 2012 |
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total |
Revenue |  | $ | — |  | $ | 3,959.4 |  | $ | 4,310.0 |  | $ | (51.2 | ) | $ | 8,218.2 |
Cost of revenue |  | — |  | 3,850.8 |  | 3,996.7 |  | (51.2 | ) | 7,796.3 |
Gross profit |  | — |  | 108.6 |  | 313.3 |  | — |  | 421.9 |
Equity in earnings from subsidiaries |  | 42.4 |  | 57.6 |  | — |  | (100.0 | ) | — |
Equity in earnings of joint ventures |  | — |  | 32.5 |  | 16.1 |  | — |  | 48.6 |
General and administrative expenses |  | (80.9 | ) | — |  | — |  | — |  | (80.9 | )
Goodwill impairment |  | — |  | (181.0 | ) | (155.0 | ) | — |  | (336.0 | )
(Loss) income from operations |  | (38.5 | ) | 17.7 |  | 174.4 |  | (100.0 | ) | 53.6 |
Other income |  | 2.0 |  | 0.8 |  | 9.7 |  | (1.9 | ) | 10.6 |
Interest expense |  | (44.4 | ) | (0.4 | ) | (3.8 | ) | 1.9 |  | (46.7 | )
(Loss) income before income tax expense |  | (80.9 | ) | 18.1 |  | 180.3 |  | (100.0 | ) | 17.5 |
Income tax (benefit) expense |  | (22.4 | ) | 4.9 |  | 82.2 |  | 9.7 |  | 74.4 |
Net (loss) income |  | (58.5 | ) | 13.2 |  | 98.1 |  | (109.7 | ) | (56.9 | )
Noncontrolling interests in income of consolidated subsidiaries, net of tax |  | — |  | — |  | (1.7 | ) | — |  | (1.7 | )
Net (loss) income attributable to AECOM |  | $ | (58.5 | ) | $ | 13.2 |  | $ | 96.4 |  | $ | (109.7 | ) | $ | (58.6 | )
Consolidating Statements of Comprehensive Income (Loss) (in millions)
|  | For the Fiscal Year Ended September 30, 2014 |
|  | Parent |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Total |
Net income |  | $ | 229.9 |  | $ | 179.6 |  | $ | 217.7 |  | $ | (394.4 | ) | $ | 232.8 |
Other comprehensive income (loss), net of tax: |  |  |  |  |  |  |  |  |  |  |
Net unrealized gain on derivatives, net of tax |  | 0.3 |  | — |  | — |  | — |  | 0.3 |
Foreign currency translation adjustments |  | — |  | — |  | (72.7 | ) | — |  | (72.7 | )
Pension adjustments, net of tax |  | (9.9 | ) | — |  | (14.3 | ) | — |  | (24.2 | )
Other comprehensive loss, net of tax |  | (9.6 | ) | — |  | (87.0 | ) | — |  | (96.6 | )
Comprehensive income, net of tax |  | 220.3 |  | 179.6 |  | 130.7 |  | (394.4 | ) | 136.2 |
Noncontrolling interests in comprehensive income of consolidated subsidiaries, net of tax |  | — |  | — |  | (1.6 | ) | — |  | (1.6 | )
Comprehensive income attributable to AECOM, net of tax |  | $ | 220.3 |  | $ | 179.6 |  | $ | 129.1 |  | $ | (394.4 | ) | $ | 134.6 |
|  | For the Fiscal Year Ended September 30, 2013 |
|  | Parent |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Total |
Net income |  | $ | 239.3 |  | $ | 178.8 |  | $ | 217.3 |  | $ | (392.2 | ) | $ | 243.2 |
Other comprehensive income (loss), net of tax: |  |  |  |  |  |  |  |  |  |  |
Net unrealized gain on derivatives, net of tax |  | 1.6 |  | — |  | — |  | — |  | 1.6 |
Foreign currency translation adjustments |  | — |  | — |  | (70.5 | ) | — |  | (70.5 | )
Pension adjustments, net of tax |  | 19.1 |  | — |  | (33.7 | ) | — |  | (14.6 | )
Other comprehensive income (loss), net of tax |  | 20.7 |  | — |  | (104.2 | ) | — |  | (83.5 | )
Comprehensive income, net of tax |  | 260.0 |  | 178.8 |  | 113.1 |  | (392.2 | ) | 159.7 |
Noncontrolling interests in comprehensive income of consolidated subsidiaries, net of tax |  | — |  | — |  | (2.6 | ) | — |  | (2.6 | )
Comprehensive income attributable to AECOM, net of tax |  | $ | 260.0 |  | $ | 178.8 |  | $ | 110.5 |  | $ | (392.2 | ) | $ | 157.1 |
Consolidating Statements of Comprehensive Income (Loss) (in millions)
|  | For the Fiscal Year Ended September 30, 2012 |
|  | Parent |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Total |
Net income (loss) |  | $ | (58.5 | ) | $ | 13.2 |  | $ | 98.1 |  | $ | (109.7 | ) | $ | (56.9 | )
Other comprehensive income (loss), net of tax: |  |  |  |  |  |  |  |  |  |  |
Net unrealized loss on derivatives, net of tax |  | (3.7 | ) | — |  | — |  | — |  | (3.7 | )
Foreign currency translation adjustments |  | — |  | — |  | 53.9 |  | — |  | 53.9 |
Pension adjustments, net of tax |  | (9.8 | ) | — |  | (32.0 | ) | — |  | (41.8 | )
Other comprehensive income (loss), net of tax |  | (13.5 | ) | — |  | 21.9 |  | — |  | 8.4 |
Comprehensive income (loss), net of tax |  | (72.0 | ) | 13.2 |  | 120.0 |  | (109.7 | ) | (48.5 | )
Noncontrolling interests in comprehensive income of consolidated subsidiaries, net of tax |  | — |  | — |  | (1.7 | ) | — |  | (1.7 | )
Comprehensive income (loss) attributable to AECOM, net of tax |  | $ | (72.0 | ) | $ | 13.2 |  | $ | 118.3 |  | $ | (109.7 | ) | $ | (50.2 | )
Condensed Consolidating Statements of Cash Flows (in millions)
|  | For the Fiscal Year Ended September 30, 2014 |
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total |
CASH FLOWS FROM OPERATING ACTIVITIES |  | $ | (33.3 | ) | $ | 206.5 |  | $ | 187.4 |  | $ | — |  | $ | 360.6 |
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |  |  |  |  |  |  |
Payments for business acquisitions, net of cash acquired |  | — |  | (55.0 | ) | 1.9 |  | — |  | (53.1 | )
Cash acquired from consolidation of joint venture |  | — |  | — |  | 19.0 |  | — |  | 19.0 |
Proceeds from disposal of businesses and property |  | — |  | — |  | 3.6 |  | — |  | 3.6 |
Net investment in unconsolidated joint ventures |  | — |  | 9.4 |  | (61.6 | ) | — |  | (52.2 | )
Sales (purchases) of investments |  | — |  | — |  | 2.7 |  | — |  | 2.7 |
Payments for capital expenditures |  | (14.3 | ) | (17.8 | ) | (30.7 | ) | — |  | (62.8 | )
Receipts from intercompany notes receivable |  | 146.7 |  | — |  | — |  | (146.7 | ) | — |
Other intercompany investing activities |  | 116.7 |  | 55.7 |  | — |  | (172.4 | ) | — |
Net cash provided by (used in) investing activities |  | 249.1 |  | (7.7 | ) | (65.1 | ) | (319.1 | ) | (142.8 | )
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |  |  |  |  |  |  |
Proceeds from borrowings under credit agreements |  | 1,769.3 |  | — |  | 39.9 |  | — |  | 1,809.2 |
Repayments of borrowings under credit agreements |  | (1,918.6 | ) | (15.8 | ) | (42.0 | ) | — |  | (1,976.4 | )
Cash paid for debt and equity issuance costs |  | (8.1 | ) | — |  | — |  | — |  | (8.1 | )
Net change in overdrafts |  | (22.5 | ) | 0.8 |  | 0.3 |  | — |  | (21.4 | )
Proceeds from issuance of common stock |  | 13.9 |  | — |  | — |  | — |  | 13.9 |
Proceeds from exercise of stock options |  | 13.4 |  | — |  | — |  | — |  | 13.4 |
Payments to repurchase common stock |  | (34.9 | ) | — |  | — |  | — |  | (34.9 | )
Excess tax benefit from share-based payment |  | 0.7 |  | — |  | — |  | — |  | 0.7 |
Net distributions to noncontrolling interests |  | — |  | — |  | (30.2 | ) | — |  | (30.2 | )
Intercompany notes repayments |  | — |  | — |  | (146.7 | ) | 146.7 |  | — |
Other intercompany financing activities |  | — |  | (178.2 | ) | 5.8 |  | 172.4 |  | — |
Net cash used in financing activities |  | (186.8 | ) | (193.2 | ) | (172.9 | ) | 319.1 |  | (233.8 | )
EFFECT OF EXCHANGE RATE CHANGES ON CASH |  | — |  | — |  | (10.5 | ) | — |  | (10.5 | )
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS |  | 29.0 |  | 5.6 |  | (61.1 | ) | — |  | (26.5 | )
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR |  | 4.4 |  | 80.2 |  | 516.1 |  | — |  | 600.7 |
CASH AND CASH EQUIVALENTS AT END OF YEAR |  | $ | 33.4 |  | $ | 85.8 |  | $ | 455.0 |  | $ | — |  | $ | 574.2 |
Condensed Consolidating Statements of Cash Flows (in millions)
|  | For the Fiscal Year Ended September 30, 2013 |
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total |
CASH FLOWS FROM OPERATING ACTIVITIES |  | $ | (25.8 | ) | $ | 134.0 |  | $ | 300.4 |  | $ | — |  | $ | 408.6 |
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |  |  |  |  |  |  |
Payments for business acquisitions, net of cash acquired |  | — |  | — |  | (42.0 | ) | — |  | (42.0 | )
Cash acquired from consolidation of joint venture |  | — |  | — |  | — |  | — |  | — |
Proceeds from disposal of businesses and property |  | — |  | — |  | 2.7 |  | — |  | 2.7 |
Net investment in unconsolidated joint ventures |  | — |  | 2.6 |  | (26.4 | ) | — |  | (23.8 | )
Sales (purchases) of investments |  | — |  | — |  | (24.3 | ) | — |  | (24.3 | )
Payments for capital expenditures |  | (9.8 | ) | (17.5 | ) | (24.8 | ) | — |  | (52.1 | )
Receipts from intercompany notes receivable |  | 116.2 |  | — |  | — |  | (116.2 | ) | — |
Other intercompany investing activities |  | 120.9 |  | 48.7 |  | — |  | (169.6 | ) | — |
Net cash provided by (used in) investing activities |  | 227.3 |  | 33.8 |  | (114.8 | ) | (285.8 | ) | (139.5 | )
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |  |  |  |  |  |  |
Proceeds from borrowings under credit agreements |  | 2,234.5 |  | 15.8 |  | 0.4 |  | — |  | 2,250.7 |
Repayments of borrowings under credit agreements |  | (2,145.7 | ) | (2.5 | ) | (7.1 | ) | — |  | (2,155.3 | )
Cash paid for debt and equity issuance costs |  | (1.6 | ) | — |  | — |  | — |  | (1.6 | )
Net change in overdrafts |  | 29.4 |  | (0.5 | ) | (0.6 | ) | — |  | 28.3 |
Proceeds from issuance of common stock |  | 14.0 |  | — |  | — |  | — |  | 14.0 |
Proceeds from exercise of stock options |  | 14.4 |  | — |  | — |  | — |  | 14.4 |
Payments to repurchase common stock |  | (388.1 | ) | — |  | — |  | — |  | (388.1 | )
Excess tax benefit from share-based payment |  | 1.7 |  | — |  | — |  | — |  | 1.7 |
Net distributions to noncontrolling interests |  | — |  | — |  | (18.5 | ) | — |  | (18.5 | )
Intercompany notes repayments |  | — |  | — |  | (116.2 | ) | 116.2 |  | — |
Other intercompany financing activities |  | — |  | (147.8 | ) | (21.8 | ) | 169.6 |  | — |
Net cash used in financing activities |  | (241.4 | ) | (135.0 | ) | (163.8 | ) | 285.8 |  | (254.4 | )
EFFECT OF EXCHANGE RATE CHANGES ON CASH |  | — |  | — |  | (7.8 | ) | — |  | (7.8 | )
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS |  | (39.9 | ) | 32.8 |  | 14.0 |  | — |  | 6.9 |
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR |  | 44.3 |  | 47.4 |  | 502.1 |  | — |  | 593.8 |
CASH AND CASH EQUIVALENTS AT END OF YEAR |  | $ | 4.4 |  | $ | 80.2 |  | $ | 516.1 |  | $ | — |  | $ | 600.7 |
|  | For the Fiscal Year Ended September 30, 2012 |
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total |
CASH FLOWS FROM OPERATING ACTIVITIES |  | $ | (82.3 | ) | $ | 246.3 |  | $ | 269.4 |  | $ | — |  | $ | 433.4 |
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |  |  |  |  |  |  |
Payments for business acquisitions, net of cash acquired |  | — |  | — |  | (12.6 | ) | — |  | (12.6 | )
Cash acquired from consolidation of joint venture |  | — |  | — |  | — |  | — |  | — |
Proceeds from disposal of businesses and property |  | — |  | 2.6 |  | — |  | — |  | 2.6 |
Net investment in unconsolidated joint ventures |  | — |  | (0.7 | ) | (2.1 | ) | — |  | (2.8 | )
Sales (purchases) of investments |  | 2.0 |  |  |  | (0.1 | ) | — |  | 1.9 |
Payments for capital expenditures |  | (11.7 | ) | (20.3 | ) | (30.9 | ) | — |  | (62.9 | )
Receipts from intercompany notes receivable |  | 137.2 |  | — |  | — |  | (137.2 | ) | — |
Other intercompany investing activities |  | 210.3 |  | (5.7 | ) | — |  | (204.6 | ) | — |
Net cash provided by (used in) investing activities |  | 337.8 |  | (24.1 | ) | (45.7 | ) | (341.8 | ) | (73.8 | )
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |  |  |  |  |  |  |
Proceeds from borrowings under credit agreements |  | 1,435.2 |  | 2.5 |  | 8.7 |  | — |  | 1,446.4 |
Repayments of borrowings under credit agreements |  | (1,513.6 | ) | (11.7 | ) | (12.0 | ) | — |  | (1,537.3 | )
Cash paid for debt and equity issuance costs |  | — |  | — |  | — |  | — |  | — |
Net change in overdrafts |  | (5.2 | ) | (0.2 | ) | 0.2 |  | — |  | (5.2 | )
Proceeds from issuance of common stock |  | 13.8 |  | — |  | — |  | — |  | 13.8 |
Proceeds from exercise of stock options |  | 4.5 |  | — |  | — |  | — |  | 4.5 |
Payments to repurchase common stock |  | (159.8 | ) | — |  | — |  | — |  | (159.8 | )
Excess tax benefit from share-based payment |  | 1.3 |  | — |  | — |  | — |  | 1.3 |
Net distributions to noncontrolling interests |  | — |  | — |  | (1.3 | ) | — |  | (1.3 | )
Intercompany notes repayments |  | — |  | — |  | (137.2 | ) | 137.2 |  | — |
Other intercompany financing activities |  | — |  | (210.3 | ) | 5.7 |  | 204.6 |  | — |
Net cash used in financing activities |  | (223.8 | ) | (219.7 | ) | (135.9 | ) | 341.8 |  | (237.6 | )
EFFECT OF EXCHANGE RATE CHANGES ON CASH |  | — |  | — |  | 14.9 |  | — |  | 14.9 |
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS |  | 31.7 |  | 2.5 |  | 102.7 |  | — |  | 136.9 |
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR |  | 12.6 |  | 44.9 |  | 399.4 |  | — |  | 456.9 |
CASH AND CASH EQUIVALENTS AT END OF YEAR |  | $ | 44.3 |  | $ | 47.4 |  | $ | 502.1 |  | $ | — |  | $ | 593.8 |

X
- References No definition available. + Details
Name: | us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=7656940&loc=d3e5283-111683 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph c -Article 5 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 06 -Article 9 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 12 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 05 -Paragraph c -Article 7 + Details
Name: | us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration