Condensed Consolidating Financial Information (Tables)

3 Months Ended

Dec. 31, 2015

Condensed Consolidating Financial Information

Schedule of Condensed Consolidating Balance Sheet

Condensed Consolidating Balance Sheets

(unaudited — in millions)

December 31, 2015

	Parent		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Total
ASSETS
CURRENT ASSETS:
Total cash and cash equivalents	$	2.2	$	132.3	$	523.5	$	—		$	658.0
Accounts receivable - net	—		2,144.1		2,663.8		—			4,807.9
Intercompany receivable	756.8		149.4		232.4		(1,138.6		)	—
Prepaid expenses and other current assets	50.9		120.2		215.0		—			386.1
Income taxes receivable	8.3		—		36.3		—			44.6

TOTAL CURRENT ASSETS	818.2		2,546.0		3,671.0		(1,138.6		)	5,896.6
PROPERTY AND EQUIPMENT - NET	95.9		230.0		275.9		—			601.8
DEFERRED TAX ASSETS - NET	48.8		—		194.0		(117.3		)	125.5
INVESTMENTS IN CONSOLIDATED SUBSIDIARIES	6,567.1		1,261.8		64.9		(7,893.8		)	—
INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES	0.8		50.3		263.3		—			314.4
GOODWILL	—		3,290.3		2,462.9		—			5,753.2
INTANGIBLE ASSETS - NET	—		416.9		174.7		—			591.6
OTHER NON - CURRENT ASSETS	83.1		21.0		142.2		—			246.3

TOTAL ASSETS	$	7,613.9	$	7,816.3	$	7,248.9	$	(9,149.7	)	$	13,529.4


LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES:
Short-term debt	$	0.8	$	—	$	2.4	$	—		$	3.2
Accounts payable	36.8		895.3		972.9		—			1,905.0
Accrued expenses and other current liabilities	129.0		963.9		928.8		—			2,021.7
Intercompany payable	87.2		946.2		277.7		(1,311.1		)	—
Billings in excess of costs on uncompleted contracts	—		255.6		416.3		—			671.9
Current portion of long-term debt	105.3		23.1		24.9		—			153.3

TOTAL CURRENT LIABILITIES	359.1		3,084.1		2,623.0		(1,311.1		)	4,755.1
OTHER LONG-TERM LIABILITIES	88.6		301.2		466.6		—			856.4
DEFERRED TAX LIABILITY - NET	—		104.3		45.6		(117.3		)	32.6
NOTE PAYABLE INTERCOMPANY - NON CURRENT	—		—		648.1		(648.1		)	—
LONG-TERM DEBT	3,852.9		477.9		35.6		—			4,366.4

TOTAL LIABILITIES	4,300.6		3,967.5		3,818.9		(2,076.5		)	10,010.5
TOTAL AECOM STOCKHOLDERS’ EQUITY	3,313.3		3,848.8		3,225.7		(7,073.2		)	3,314.6
Noncontrolling interests	—		—		204.3		—			204.3

TOTAL STOCKHOLDERS’ EQUITY	3,313.3		3,848.8		3,430.0		(7,073.2		)	3,518.9

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	7,613.9	$	7,816.3	$	7,248.9	$	(9,149.7	)	$	13,529.4

Condensed Consolidating Balance Sheets

(unaudited - in millions)

September 30, 2015

	Parent		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Total
ASSETS
CURRENT ASSETS:
Total cash and cash equivalents	$	1.3	$	162.5	$	520.1	$	—		$	683.9
Accounts receivable—net	—		2,165.5		2,675.9		—			4,841.4
Intercompany receivable	771.3		187.3		262.7		(1,221.3		)	—
Prepaid expenses and other current assets	36.7		127.4		224.9		—			389.0
Income taxes receivable	68.7		—		12.5		—			81.2
Deferred tax assets—net	36.6		—		276.9		(62.9		)	250.6

TOTAL CURRENT ASSETS	914.6		2,642.7		3,973.0		(1,284.2		)	6,246.1
PROPERTY AND EQUIPMENT—NET	93.4		240.0		365.9		—			699.3
DEFERRED TAX ASSETS—NET	27.1		—		7.3		(34.4		)	—
INVESTMENTS IN CONSOLIDATED SUBSIDIARIES	6,739.4		1,343.7		67.4		(8,150.5		)	—
INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES	0.8		73.4		247.4		—			321.6
GOODWILL	—		3,291.1		2,529.6		—			5,820.7
INTANGIBLE ASSETS—NET	—		459.4		200.0		—			659.4
OTHER NON-CURRENT ASSETS	88.7		26.8		151.7		—			267.2

TOTAL ASSETS	$	7,864.0	$	8,077.1	$	7,542.3	$	(9,469.1	)	$	14,014.3


LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES:
Short-term debt	$	2.3	$	—	$	0.5	$	—		$	2.8
Accounts payable	28.0		834.1		991.9		—			1,854.0
Accrued expenses and other current liabilities	229.5		1,001.6		936.7		—			2,167.8
Intercompany payable	119.9		960.3		319.8		(1,400.0		)	—
Billings in excess of costs on uncompleted contracts	—		255.7		398.2		—			653.9
Deferred tax liability — net	—		62.9		—		(62.9		)	—
Current portion of long-term debt	105.6		24.5		27.5		—			157.6

TOTAL CURRENT LIABILITIES	485.3		3,139.1		2,674.6		(1,462.9		)	4,836.1
OTHER LONG-TERM LIABILITIES	63.6		299.5		507.6		—			870.7
DEFERRED TAX LIABILITY — NET	—		122.6		141.9		(34.4		)	230.1
NOTE PAYABLE INTERCOMPANY—NON CURRENT	—		—		669.1		(669.1		)	—
LONG-TERM DEBT	3,914.0		482.7		49.8		—			4,446.5

TOTAL LIABILITIES	4,462.9		4,043.9		4,043.0		(2,166.4		)	10,383.4
TOTAL AECOM STOCKHOLDERS’ EQUITY	3,401.1		4,033.2		3,276.1		(7,302.7		)	3,407.7
Noncontrolling interests	—		—		223.2		—			223.2

TOTAL STOCKHOLDERS’ EQUITY	3,401.1		4,033.2		3,499.3		(7,302.7		)	3,630.9

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	7,864.0	$	8,077.1	$	7,542.3	$	(9,469.1	)	$	14,014.3

Schedule of Condensed Consolidating Statements of Operations

Condensed Consolidating Statements of Operations

(unaudited - in millions)

	For the three months ended December 31, 2015
	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Total
Revenue	$	—		$	2,236.3		$	2,094.2		$	(32.8	)	$	4,297.7
Cost of Revenue	—			2,182.5			2,007.1			(32.8		)	4,156.8

Gross Profit	—			53.8			87.1			—			140.9
Equity in earnings from subsidiaries	54.9			(40.3		)	0.8			(15.4		)	—
Equity in earnings of joint ventures	—			4.5			20.7			—			25.2
General and administrative expenses	(27.6		)	(1.1		)	—			—			(28.7		)
Acquisition and integration expenses	(41.0		)	—			—			—			(41.0		)

(Loss) income from operations	(13.7		)	16.9			108.6			(15.4		)	96.4
Loss on disposal activity	—			—			(41.0		)	—			(41.0		)
Other income	0.8			8.9			2.5			(9.2		)	3.0
Interest expense	(53.3		)	(5.7		)	(9.7		)	9.2			(59.5		)

(Loss) income before income tax (benefit) expense	(66.2		)	20.1			60.4			(15.4		)	(1.1		)
Income tax (benefit) expense	(45.8		)	18.1			14.2			12.8			(0.7		)

Net (loss) income	(20.4		)	2.0			46.2			(28.2		)	(0.4		)
Noncontrolling interest in income of consolidated subsidiaries, net of tax	—			—			(20.0		)	—			(20.0		)

Net (loss) income attributable to AECOM	$	(20.4	)	$	2.0		$	26.2		$	(28.2	)	$	(20.4	)

	For the three months ended December 31, 2014
	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Total
Revenue	$	—		$	2,036.7		$	2,268.6		$	(94.8	)	$	4,210.5
Cost of revenue	—			1,956.5			2,214.1			(94.8		)	4,075.8

Gross profit	—			80.2			54.5			—			134.7
Equity in earnings from subsidiaries	25.6			0.6			1.4			(27.6		)	—
Equity in earnings of joint ventures	—			(2.0		)	25.9			—			23.9
General and administrative expenses	(33.0		)	(1.2		)	—			—			(34.2		)
Acquisition and integration expenses	(115.9		)	(22.6		)	—			—			(138.5		)

(Loss) income from operations	(123.3		)	55.0			81.8			(27.6		)	(14.1		)
Other income	0.9			8.4			0.9			(7.7		)	2.5
Interest expense	(113.4		)	(4.7		)	(8.3		)	7.7			(118.7		)

(Loss) income before income tax (benefit) expense	(235.8		)	58.7			74.4			(27.6		)	(130.3		)
Income tax (benefit) expense	(96.8		)	15.2			3.8			65.6			(12.2		)

Net (loss) income	(139.0		)	43.5			70.6			(93.2		)	(118.1		)
Noncontrolling interests in income of consolidated subsidiaries, net of tax	—			—			(20.9		)	—			(20.9		)

Net (loss) income attributable to AECOM	$	(139.0	)	$	43.5		$	49.7		$	(93.2	)	$	(139.0	)

Schedule of Consolidating Statements of Comprehensive Income (Loss)

Consolidating Statements of Comprehensive Income (Loss)

(unaudited - in millions)

	For the three months ended December 31, 2015
	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Total
Net (loss) income	$	(20.4	)	$	2.0		$	46.2		$	(28.2	)	$	(0.4	)
Other comprehensive income (loss), net of tax:
Net unrealized gain on derivatives, net of tax	3.9			—			1.4			—			5.3
Foreign currency translation adjustments	—			—			(97.7		)	—			(97.7		)
Pension adjustments, net of tax	0.6			(4.7		)	4.8			—			0.7

Other comprehensive income (loss), net of tax	4.5			(4.7		)	(91.5		)	—			(91.7		)

Comprehensive loss net of tax	(15.9		)	(2.7		)	(45.3		)	(28.2		)	(92.1		)
Noncontrolling interests in comprehensive income of consolidated subsidiaries, net of tax	—			—			(18.3		)	—			(18.3		)

Comprehensive loss attributable to AECOM, net of tax	$	(15.9	)	$	(2.7	)	$	(63.6	)	$	(28.2	)	$	(110.4	)

	For the three months ended December 31, 2014
	Parent			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Total
Net (loss) income	$	(139.0	)	$	43.5	$	70.6		$	(93.2	)	$	(118.1	)
Other comprehensive (loss) income, net of tax:
Net unrealized loss on derivatives, net of tax	(1.0		)	—		—			—			(1.0		)
Foreign currency translation adjustments	—			—		(128.1		)	—			(128.1		)
Pension adjustments, net of tax	0.7			—		7.3			—			8.0

Other comprehensive loss, net of tax	(0.3		)	—		(120.8		)	—			(121.1		)

Comprehensive (loss) income, net of tax	(139.3		)	43.5		(50.2		)	(93.2		)	(239.2		)
Noncontrolling interests in comprehensive income of consolidated subsidiaries, net of tax	—			—		(18.9		)	—			(18.9		)

Comprehensive (loss) income attributable to AECOM, net of tax	$	(139.3	)	$	43.5	$	(69.1	)	$	(93.2	)	$	(258.1	)

Schedule on Condensed Consolidating Statements of Cash Flow

Condensed Consolidating Statements of Cash Flows

(unaudited - in millions)

	For the three months ended December 31, 2015
	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Total

CASH FLOWS FROM OPERATING ACTIVITIES	$	(265.1	)	$	295.0		$	48.1		$	—		$	78.0
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from disposal of businesses and property	—			—			37.6			—			37.6
Net investment in unconsolidated joint ventures	—			(0.5		)	(7.2		)	—			(7.7		)
Net sales of investments	—			—			11.0			—			11.0
Payments for capital expenditures, net of disposals	(5.3		)	(9.0		)	13.4			—			(0.9		)
Receipts from intercompany notes receivable	7.0			39.7			—			(46.7		)	—
Other intercompany investing activities	342.4			21.9			—			(364.3		)	—

Net cash used in investing activities	344.1			52.1			54.8			(411.0		)	40.0

CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from borrowings under credit agreements	1,220.7			—			2.0			—			1,222.7
Repayments of borrowings under credit agreements	(1,283.8		)	(5.8		)	(15.3		)	—			(1,304.9		)
Cash paid for debt and equity issuance costs	(1.2		)	—			—			—			(1.2		)
Proceeds from issuance of common stock	6.9			—			—			—			6.9
Proceeds from exercise of stock options	3.0			—			—			—			3.0
Payments to repurchase common stock	(17.3		)	—			—			—			(17.3		)
Excess tax benefit from share-based payment	3.3			—			—			—			3.3
Net distributions to noncontrolling interests	—			—			(37.8		)	—			(37.8		)
Other financing activities	(9.7		)	(31.7		)	28.4			—			(13.0		)
Intercompany notes repayments	—			—			(46.7		)	46.7			—
Other intercompany financing activities	—			(339.7		)	(24.6		)	364.3			—

Net cash used in financing activities	(78.1		)	(377.2		)	(94.0		)	411.0			(138.3		)

EFFECT OF EXCHANGE RATE CHANGES ON CASH	—			—			(5.6		)	—			(5.6		)
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS	0.9			(30.1		)	3.3			—			(25.9		)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR	1.3			162.4			520.2			—			683.9

CASH AND CASH EQUIVALENTS AT END OF YEAR	$	2.2		$	132.3		$	523.5		$	—		$	658.0

	For the three months ended December 31, 2014
	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Total

CASH FLOWS FROM OPERATING ACTIVITIES	$	(114.1	)	$	249.0		$	147.7		$	—		$	282.6
CASH FLOWS FROM INVESTING ACTIVITIES:
Payments for business acquisitions, net of cash acquired	(3,562.3		)	114.1			171.1			—			(3,277.1		)
Net investment in unconsolidated joint ventures	—			(0.8		)	(8.3		)	—			(9.1		)
Net purchases of investments	(1.3		)	—			(6.8		)	—			(8.1		)
Payments for capital expenditures, net of disposals	(5.9		)	(7.5		)	(11.7		)	—			(25.1		)
Receipts from intercompany notes receivable	32.7			39.7			—			(72.4		)	—
Other intercompany investing activities	376.4			40.6			—			(417.0		)	—

Net cash used in investing activities	(3,160.4		)	186.1			144.3			(489.4		)	(3,319.4		)

CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from borrowings under credit agreements	3,811.9			4.4			42.3			—			3,858.6
Repayments of borrowings under credit agreements	(2,030.5		)	(5.4		)	(17.7		)	—			(2,053.6		)
Issuance of unsecured senior notes	1,600.0			—			—			—			1,600.0
Prepayment penalty on Unsecured Senior Notes	(55.6		)	—			—			—			(55.6		)
Cash paid for debt and equity issuance costs	(86.2		)	—			—			—			(86.2		)
Proceeds from issuance of common stock	3.6			—			—			—			3.6
Proceeds from exercise of stock options	2.4			—			—			—			2.4
Payments to repurchase common stock	(11.0		)	—			—			—			(11.0		)
Excess tax benefit from share-based payment	2.5			—			—			—			2.5
Net distributions to noncontrolling interests	—			—			(34.7		)	—			(34.7		)
Other financing activities	5.8			(21.5		)	(4.2		)	—			(19.9		)
Intercompany notes repayments	—			—			(72.4		)	72.4			—
Other intercompany financing activities	—			(381.0		)	(36.0		)	417.0			—

Net cash used in financing activities	3,242.9			(403.5		)	(122.7		)	489.4			3,206.1

EFFECT OF EXCHANGE RATE CHANGES ON CASH	—			—			(8.9		)	—			(8.9		)
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS	(31.6		)	31.6			160.4			—			160.4
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR	33.4			85.8			455.0			—			574.2

CASH AND CASH EQUIVALENTS AT END OF YEAR	$	1.8		$	117.4		$	615.4		$	—		$	734.6