Condensed Consolidated Financial Statements (Tables)

12 Months Ended

Sep. 30, 2014

Condensed Consolidating Financial Information

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

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)

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

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