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Condensed Consolidating Financial Information (Tables) | 9 Months Ended
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Jun. 30, 2017
Condensed Consolidating Financial Information |
Schedule of Condensed Consolidating Balance Sheets | Condensed Consolidating Balance Sheets (unaudited — in millions) June 30, 2017
|  | Parent |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Total |
ASSETS |  |  |  |  |  |  |  |  |  |  |
CURRENT ASSETS: |  |  |  |  |  |  |  |  |  |  |
Total cash and cash equivalents |  | $ | 27.8 |  | $ | 191.8 |  | $ | 592.8 |  | $ | — |  | $ | 812.4 |
Accounts receivable—net |  | — |  | 2,098.3 |  | 2,661.0 |  | — |  | 4,759.3 |
Intercompany receivable |  | 738.6 |  | 79.1 |  | 148.8 |  | (966.5 | ) | — |
Prepaid expenses and other current assets |  | 54.4 |  | 348.3 |  | 316.0 |  | — |  | 718.7 |
Income taxes receivable |  | 5.1 |  | — |  | 37.8 |  | — |  | 42.9 |
TOTAL CURRENT ASSETS |  | 825.9 |  | 2,717.5 |  | 3,756.4 |  | (966.5 | ) | 6,333.3 |
PROPERTY AND EQUIPMENT—NET |  | 169.4 |  | 218.3 |  | 215.6 |  | — |  | 603.3 |
DEFERRED TAX ASSETS—NET |  | 374.6 |  | — |  | 140.3 |  | (320.9 | ) | 194.0 |
INVESTMENTS IN CONSOLIDATED SUBSIDIARIES |  | 6,262.5 |  | 2,773.8 |  | — |  | (9,036.3 | ) | — |
INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES |  | 1.7 |  | 45.4 |  | 292.2 |  | — |  | 339.3 |
GOODWILL |  | — |  | 3,318.6 |  | 2,521.9 |  | — |  | 5,840.5 |
INTANGIBLE ASSETS—NET |  | — |  | 287.7 |  | 122.6 |  | — |  | 410.3 |
OTHER NON-CURRENT ASSETS |  | 8.8 |  | 24.5 |  | 82.2 |  | — |  | 115.5 |
TOTAL ASSETS |  | $ | 7,642.9 |  | $ | 9,385.8 |  | $ | 7,131.2 |  | $ | (10,323.7 | ) | $ | 13,836.2 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |  |  |
CURRENT LIABILITIES: |  |  |  |  |  |  |  |  |  |  |
Short-term debt |  | $ | 1.6 |  | $ | — |  | $ | 0.1 |  | $ | — |  | $ | 1.7 |
Accounts payable |  | 30.3 |  | 1,005.1 |  | 1,130.1 |  | — |  | 2,165.5 |
Accrued expenses and other current liabilities |  | 94.6 |  | 964.5 |  | 1,047.5 |  | — |  | 2,106.6 |
Accrued taxes payable |  | — |  | — |  | 21.3 |  | — |  | 21.3 |
Intercompany payable |  | 123.8 |  | 813.6 |  | 148.2 |  | (1,085.6 | ) | — |
Billings in excess of costs on uncompleted contracts |  | — |  | 283.6 |  | 455.4 |  | — |  | 739.0 |
Current portion of long-term debt |  | 111.0 |  | 36.9 |  | 7.6 |  | — |  | 155.5 |
TOTAL CURRENT LIABILITIES |  | 361.3 |  | 3,103.7 |  | 2,810.2 |  | (1,085.6 | ) | 5,189.6 |
OTHER LONG-TERM LIABILITIES |  | 110.1 |  | 311.3 |  | 539.1 |  | — |  | 960.5 |
DEFERRED TAX LIABILITY — NET |  | — |  | 336.9 |  | — |  | (320.9 | ) | 16.0 |
NOTE PAYABLE INTERCOMPANY—NON CURRENT |  | — |  | — |  | 585.9 |  | (585.9 | ) | — |
LONG-TERM DEBT |  | 3,466.3 |  | 271.2 |  | 16.3 |  | — |  | 3,753.8 |
TOTAL LIABILITIES |  | 3,937.7 |  | 4,023.1 |  | 3,951.5 |  | (1,992.4 | ) | 9,919.9 |
TOTAL AECOM STOCKHOLDERS’ EQUITY |  | 3,705.2 |  | 5,362.7 |  | 2,972.0 |  | (8,331.3 | ) | 3,708.6 |
Noncontrolling interests |  | — |  | — |  | 207.7 |  | — |  | 207.7 |
TOTAL STOCKHOLDERS’ EQUITY |  | 3,705.2 |  | 5,362.7 |  | 3,179.7 |  | (8,331.3 | ) | 3,916.3 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY |  | $ | 7,642.9 |  | $ | 9,385.8 |  | $ | 7,131.2 |  | $ | (10,323.7 | ) | $ | 13,836.2 |
Condensed Consolidating Balance Sheets ( in millions) September 30, 2016
|  | Parent |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Total |
ASSETS |  |  |  |  |  |  |  |  |  |  |
CURRENT ASSETS: |  |  |  |  |  |  |  |  |  |  |
Total cash and cash equivalents |  | $ | 1.8 |  | $ | 183.7 |  | $ | 506.6 |  | $ | — |  | $ | 692.1 |
Accounts receivable—net |  | — |  | 2,034.0 |  | 2,497.5 |  | — |  | 4,531.5 |
Intercompany receivable |  | 760.7 |  | 151.7 |  | 152.0 |  | (1,064.4 | ) | — |
Prepaid expenses and other current assets |  | 98.7 |  | 336.2 |  | 295.2 |  | — |  | 730.1 |
Income taxes receivable |  | 28.7 |  | — |  | 18.4 |  | — |  | 47.1 |
TOTAL CURRENT ASSETS |  | 889.9 |  | 2,705.6 |  | 3,469.7 |  | (1,064.4 | ) | 6,000.8 |
PROPERTY AND EQUIPMENT—NET |  | 169.3 |  | 236.5 |  | 239.2 |  | — |  | 645.0 |
DEFERRED TAX ASSETS—NET |  | 265.2 |  | — |  | 129.8 |  | (223.5 | ) | 171.5 |
INVESTMENTS IN CONSOLIDATED SUBSIDIARIES |  | 6,031.7 |  | 2,681.5 |  | — |  | (8,713.2 | ) | — |
INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES |  | 0.7 |  | 48.6 |  | 281.2 |  | — |  | 330.5 |
GOODWILL |  | — |  | 3,286.6 |  | 2,537.2 |  | — |  | 5,823.8 |
INTANGIBLE ASSETS—NET |  | — |  | 334.0 |  | 145.4 |  | — |  | 479.4 |
OTHER NON-CURRENT ASSETS |  | 8.2 |  | 71.5 |  | 139.2 |  | — |  | 218.9 |
TOTAL ASSETS |  | $ | 7,365.0 |  | $ | 9,364.3 |  | $ | 6,941.7 |  | $ | (10,001.1 | ) | $ | 13,669.9 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |  |  |
CURRENT LIABILITIES: |  |  |  |  |  |  |  |  |  |  |
Short-term debt |  | $ | 3.1 |  | $ | 7.3 |  | $ | 15.9 |  | $ | — |  | $ | 26.3 |
Accounts payable |  | 45.8 |  | 907.0 |  | 958.1 |  | — |  | 1,910.9 |
Accrued expenses and other current liabilities |  | 201.2 |  | 1,137.1 |  | 1,046.5 |  | — |  | 2,384.8 |
Accrued taxes payable |  | — |  | — |  | 10.8 |  | — |  | 10.8 |
Intercompany payable |  | 114.1 |  | 857.9 |  | 208.8 |  | (1,180.8 | ) | — |
Billings in excess of costs on uncompleted contracts |  | — |  | 237.5 |  | 394.4 |  | — |  | 631.9 |
Current portion of long-term debt |  | 108.2 |  | 222.1 |  | 9.7 |  | — |  | 340.0 |
TOTAL CURRENT LIABILITIES |  | 472.4 |  | 3,368.9 |  | 2,644.2 |  | (1,180.8 | ) | 5,304.7 |
OTHER LONG-TERM LIABILITIES |  | 115.7 |  | 349.3 |  | 632.4 |  | — |  | 1,097.4 |
DEFERRED TAX LIABILITY — NET |  | — |  | 236.6 |  | — |  | (223.5 | ) | 13.1 |
NOTE PAYABLE INTERCOMPANY—NON CURRENT |  | — |  | — |  | 563.5 |  | (563.5 | ) | — |
LONG-TERM DEBT |  | 3,411.2 |  | 273.4 |  | 17.6 |  | — |  | 3,702.2 |
TOTAL LIABILITIES |  | 3,999.3 |  | 4,228.2 |  | 3,857.7 |  | (1,967.8 | ) | 10,117.4 |
TOTAL AECOM STOCKHOLDERS’ EQUITY |  | 3,365.7 |  | 5,136.1 |  | 2,898.4 |  | (8,033.3 | ) | 3,366.9 |
Noncontrolling interests |  | — |  | — |  | 185.6 |  | — |  | 185.6 |
TOTAL STOCKHOLDERS’ EQUITY |  | 3,365.7 |  | 5,136.1 |  | 3,084.0 |  | (8,033.3 | ) | 3,552.5 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY |  | $ | 7,365.0 |  | $ | 9,364.3 |  | $ | 6,941.7 |  | $ | (10,001.1 | ) | $ | 13,669.9 |
Schedule of Condensed Consolidating Statements of Operations | Condensed Consolidating Statements of Operations (unaudited - in millions)
|  | For the three months ended June 30, 2017 |
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total |
Revenue |  | $ | — |  | $ | 2,279.3 |  | $ | 2,301.2 |  | $ | (19.0 | ) | $ | 4,561.5 |
Cost of revenue |  | — |  | 2,198.5 |  | 2,206.8 |  | (19.0 | ) | 4,386.3 |
Gross profit |  | — |  | 80.8 |  | 94.4 |  | — |  | 175.2 |
Equity in earnings from subsidiaries |  | 108.1 |  | 17.5 |  | — |  | (125.6 | ) | — |
Equity in earnings of joint ventures |  | — |  | 6.2 |  | 60.3 |  | — |  | 66.5 |
General and administrative expenses |  | (27.3 | ) | — |  | (6.7 | ) | — |  | (34.0 | )
Acquisition and integration expenses |  | — |  | — |  | — |  | — |  | — |
Gain on disposal activity |  | — |  | — |  | — |  | — |  | — |
Income from operations |  | 80.8 |  | 104.5 |  | 148.0 |  | (125.6 | ) | 207.7 |
Other income |  | 0.7 |  | 7.7 |  | 2.4 |  | (8.7 | ) | 2.1 |
Interest expense |  | (52.6 | ) | (6.7 | ) | (11.0 | ) | 8.7 |  | (61.6 | )
Income before income tax (benefit) expense |  | 28.9 |  | 105.5 |  | 139.4 |  | (125.6 | ) | 148.2 |
Income tax (benefit) expense |  | (72.4 | ) | 34.5 |  | 50.0 |  | — |  | 12.1 |
Net income |  | 101.3 |  | 71.0 |  | 89.4 |  | (125.6 | ) | 136.1 |
Noncontrolling interest in income of consolidated subsidiaries, net of tax |  | — |  | — |  | (34.8 | ) | — |  | (34.8 | )
Net income attributable to AECOM |  | $ | 101.3 |  | $ | 71.0 |  | $ | 54.6 |  | $ | (125.6 | ) | $ | 101.3 |
|  | For the three months ended June 30, 2016 |
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total |
Revenue |  | $ | — |  | $ | 2,321.6 |  | $ | 2,095.2 |  | $ | (8.0 | ) | $ | 4,408.8 |
Cost of revenue |  | — |  | 2,255.5 |  | 1,990.0 |  | (8.0 | ) | 4,237.5 |
Gross profit |  | — |  | 66.1 |  | 105.2 |  | — |  | 171.3 |
Equity in earnings from subsidiaries |  | 150.7 |  | 81.5 |  | — |  | (232.2 | ) | — |
Equity in earnings of joint ventures |  | — |  | 10.2 |  | 8.3 |  | — |  | 18.5 |
General and administrative expenses |  | (28.9 | ) | 0.2 |  | — |  | — |  | (28.7 | )
Acquisition and integration expenses |  | (50.7 | ) | — |  | — |  | — |  | (50.7 | )
Income from operations |  | 71.1 |  | 158.0 |  | 113.5 |  | (232.2 | ) | 110.4 |
Other income |  | 1.4 |  | 9.4 |  | 2.2 |  | (11.5 | ) | 1.5 |
Interest expense |  | (55.6 | ) | (6.2 | ) | (12.3 | ) | 11.5 |  | (62.6 | )
Income before income tax (benefit) expense |  | 16.9 |  | 161.2 |  | 103.4 |  | (232.2 | ) | 49.3 |
Income tax (benefit) expense |  | (50.5 | ) | 31.7 |  | 4.0 |  | (20.3 | ) | (35.1 | )
Net income |  | 67.4 |  | 129.5 |  | 99.4 |  | (211.9 | ) | 84.4 |
Noncontrolling interest in income of consolidated subsidiaries, net of tax |  | — |  | — |  | (17.0 | ) | — |  | (17.0 | )
Net income attributable to AECOM |  | $ | 67.4 |  | $ | 129.5 |  | $ | 82.4 |  | $ | (211.9 | ) | $ | 67.4 |
Condensed Consolidating Statements of Operations (unaudited - in millions)
|  | For the nine months ended June 30, 2017 |
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total |
Revenue |  | $ | — |  | $ | 6,850.6 |  | $ | 6,548.7 |  | $ | (52.3 | ) | $ | 13,347.0 |
Cost of revenue |  | — |  | 6,554.0 |  | 6,331.7 |  | (52.3 | ) | 12,833.4 |
Gross profit |  | — |  | 296.6 |  | 217.0 |  | — |  | 513.6 |
Equity in earnings from subsidiaries |  | 396.2 |  | 145.6 |  | — |  | (541.8 | ) | — |
Equity in earnings of joint ventures |  | — |  | 21.1 |  | 88.6 |  | — |  | 109.7 |
General and administrative expenses |  | (89.8 | ) | — |  | (6.7 | ) | — |  | (96.5 | )
Acquisition and integration expenses |  | (35.4 | ) | — |  | — |  | — |  | (35.4 | )
Gain on disposal activity |  | — |  | — |  | 0.6 |  | — |  | 0.6 |
Income from operations |  | 271.0 |  | 463.3 |  | 299.5 |  | (541.8 | ) | 492.0 |
Other income |  | 1.6 |  | 23.6 |  | 6.9 |  | (27.9 | ) | 4.2 |
Interest expense |  | (155.5 | ) | (18.5 | ) | (30.9 | ) | 27.9 |  | (177.0 | )
Income before income tax (benefit) expense |  | 117.1 |  | 468.4 |  | 275.5 |  | (541.8 | ) | 319.2 |
Income tax (benefit) expense |  | (133.8 | ) | 108.6 |  | 26.7 |  | — |  | 1.5 |
Net income |  | 250.9 |  | 359.8 |  | 248.8 |  | (541.8 | ) | 317.7 |
Noncontrolling interest in income of consolidated subsidiaries, net of tax |  | — |  | — |  | (66.8 | ) | — |  | (66.8 | )
Net income attributable to AECOM |  | $ | 250.9 |  | $ | 359.8 |  | $ | 182.0 |  | $ | (541.8 | ) | $ | 250.9 |
|  | For the nine months ended June 30, 2016 |
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total |
Revenue |  | $ | — |  | $ | 6,915.6 |  | $ | 6,221.8 |  | $ | (49.7 | ) | $ | 13,087.7 |
Cost of revenue |  | — |  | 6,652.1 |  | 5,989.7 |  | (49.7 | ) | 12,592.1 |
Gross profit |  | — |  | 263.5 |  | 232.1 |  | — |  | 495.6 |
Equity in earnings from subsidiaries |  | 330.7 |  | 147.7 |  | — |  | (478.4 | ) | — |
Equity in earnings of joint ventures |  | — |  | 21.9 |  | 60.9 |  | — |  | 82.8 |
General and administrative expenses |  | (85.9 | ) | (1.0 | ) | — |  | — |  | (86.9 | )
Acquisition and integration expenses |  | (142.4 | ) | — |  | — |  | — |  | (142.4 | )
Loss on disposal activities |  | — |  | — |  | (42.6 | ) | — |  | (42.6 | )
Income from operations |  | 102.4 |  | 432.1 |  | 250.4 |  | (478.4 | ) | 306.5 |
Other income |  | 4.4 |  | 27.2 |  | 3.8 |  | (30.1 | ) | 5.3 |
Interest expense |  | (164.8 | ) | (17.3 | ) | (32.8 | ) | 30.1 |  | (184.8 | )
(Loss) income before income tax (benefit) expense |  | (58.0 | ) | 442.0 |  | 221.4 |  | (478.4 | ) | 127.0 |
Income tax (benefit) expense |  | (146.9 | ) | 116.0 |  | 13.9 |  | (6.6 | ) | (23.6 | )
Net income |  | 88.9 |  | 326.0 |  | 207.5 |  | (471.8 | ) | 150.6 |
Noncontrolling interest in income of consolidated subsidiaries, net of tax |  | — |  | — |  | (61.7 | ) | — |  | (61.7 | )
Net income attributable to AECOM |  | $ | 88.9 |  | $ | 326.0 |  | $ | 145.8 |  | $ | (471.8 | ) | $ | 88.9 |
Schedule of Consolidating Statements of Comprehensive Income | Consolidating Statements of Comprehensive Income (unaudited - in millions)
|  | For the three months ended June 30, 2017 |
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total |
Net income |  | $ | 101.3 |  | $ | 71.0 |  | $ | 89.4 |  | $ | (125.6 | ) | $ | 136.1 |
Other comprehensive income (loss), net of tax: |  |  |  |  |  |  |  |  |  |  |
Net unrealized gain on derivatives, net of tax |  | 0.5 |  | — |  | 0.1 |  | — |  | 0.6 |
Foreign currency translation adjustments |  | — |  | — |  | 46.2 |  | — |  | 46.2 |
Pension adjustments, net of tax |  | 0.6 |  | — |  | (7.2 | ) | — |  | (6.6 | )
Other comprehensive income, net of tax |  | 1.1 |  | — |  | 39.1 |  | — |  | 40.2 |
Comprehensive income, net of tax |  | 102.4 |  | 71.0 |  | 128.5 |  | (125.6 | ) | 176.3 |
Noncontrolling interests in comprehensive income of consolidated subsidiaries, net of tax |  | — |  | — |  | (35.1 | ) | — |  | (35.1 | )
Comprehensive income attributable to AECOM, net of tax |  | $ | 102.4 |  | $ | 71.0 |  | $ | 93.4 |  | $ | (125.6 | ) | $ | 141.2 |
|  | For the three months ended June 30, 2016 |
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total |
Net income |  | $ | 67.4 |  | $ | 129.5 |  | $ | 99.4 |  | $ | (211.9 | ) | $ | 84.4 |
Other comprehensive (loss) income, net of tax: |  |  |  |  |  |  |  |  |  |  |
Net unrealized loss on derivatives, net of tax |  | (0.7 | ) | — |  | (0.7 | ) | — |  | (1.4 | )
Foreign currency translation adjustments |  | — |  | — |  | (3.7 | ) | — |  | (3.7 | )
Pension adjustments, net of tax |  | 0.6 |  | — |  | 9.6 |  | — |  | 10.2 |
Other comprehensive (loss) income, net of tax |  | (0.1 | ) | — |  | 5.2 |  | — |  | 5.1 |
Comprehensive income, net of tax |  | 67.3 |  | 129.5 |  | 104.6 |  | (211.9 | ) | 89.5 |
Noncontrolling interests in comprehensive income of consolidated subsidiaries, net of tax |  | — |  | — |  | (16.6 | ) | — |  | (16.6 | )
Comprehensive income attributable to AECOM, net of tax |  | $ | 67.3 |  | $ | 129.5 |  | $ | 88.0 |  | $ | (211.9 | ) | $ | 72.9 |
Consolidating Statements of Comprehensive Income (unaudited - in millions)
|  | For the nine months ended June 30, 2017 |
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total |
Net income |  | $ | 250.9 |  | $ | 359.8 |  | $ | 248.8 |  | $ | (541.8 | ) | $ | 317.7 |
Other comprehensive income (loss), net of tax: |  |  |  |  |  |  |  |  |  |  |
Net unrealized gain (loss) on derivatives, net of tax |  | 4.6 |  | — |  | (0.3 | ) | — |  | 4.3 |
Foreign currency translation adjustments |  | — |  | — |  | 13.2 |  | — |  | 13.2 |
Pension adjustments, net of tax |  | 1.9 |  | — |  | 6.9 |  | — |  | 8.8 |
Other comprehensive income, net of tax |  | 6.5 |  | — |  | 19.8 |  | — |  | 26.3 |
Comprehensive income, net of tax |  | 257.4 |  | 359.8 |  | 268.6 |  | (541.8 | ) | 344.0 |
Noncontrolling interests in comprehensive income of consolidated subsidiaries, net of tax |  | — |  | — |  | (67.2 | ) | — |  | (67.2 | )
Comprehensive income attributable to AECOM, net of tax |  | $ | 257.4 |  | $ | 359.8 |  | $ | 201.4 |  | $ | (541.8 | ) | $ | 276.8 |
|  | For the nine months ended June 30, 2016 |
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total |
Net income |  | $ | 88.9 |  | $ | 326.0 |  | $ | 207.5 |  | $ | (471.8 | ) | $ | 150.6 |
Other comprehensive income (loss), net of tax: |  |  |  |  |  |  |  |  |  |  |
Net unrealized gain on derivatives, net of tax |  | 0.6 |  | — |  | 2.8 |  | — |  | 3.4 |
Foreign currency translation adjustments |  | — |  | — |  | (33.6 | ) | — |  | (33.6 | )
Pension adjustments, net of tax |  | 1.8 |  | (4.7 | ) | 20.3 |  | — |  | 17.4 |
Other comprehensive income (loss), net of tax |  | 2.4 |  | (4.7 | ) | (10.5 | ) | — |  | (12.8 | )
Comprehensive income, net of tax |  | 91.3 |  | 321.3 |  | 197.0 |  | (471.8 | ) | 137.8 |
Noncontrolling interests in comprehensive income of consolidated subsidiaries, net of tax |  | — |  | — |  | (59.7 | ) | — |  | (59.7 | )
Comprehensive income attributable to AECOM, net of tax |  | $ | 91.3 |  | $ | 321.3 |  | $ | 137.3 |  | $ | (471.8 | ) | $ | 78.1 |
Schedule on Condensed Consolidating Statements of Cash Flows | Condensed Consolidating Statements of Cash Flows (unaudited - in millions)
|  | For the nine months ended June 30, 2017 |
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total |
CASH FLOWS FROM OPERATING ACTIVITIES |  | $ | (123.0 | ) | $ | 571.9 |  | $ | (3.5 | ) | $ | — |  | $ | 445.4 |
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |  |  |  |  |  |  |
Payment for business acquisitions, net of cash acquired |  | — |  | — |  | (1.7 | ) | — |  | (1.7 | )
Proceeds from disposal of business, net of cash disposed |  | — |  | — |  | 2.2 |  | — |  | 2.2 |
Net investment in unconsolidated joint ventures |  | — |  | 0.7 |  | (11.5 | ) | — |  | (10.8 | )
Net purchases of investments |  | — |  | — |  | 0.7 |  | — |  | 0.7 |
Payments for capital expenditures, net of disposals |  | (17.8 | ) | (23.7 | ) | (17.0 | ) | — |  | (58.5 | )
Net investment in intercompany notes |  | (2.1 | ) | (16.0 | ) | (7.0 | ) | 25.1 |  | — |
Other intercompany investing activities |  | 118.4 |  | (48.0 | ) | — |  | (70.4 | ) | — |
Net cash provided by (used in) investing activities |  | 98.5 |  | (87.0 | ) | (34.3 | ) | (45.3 | ) | (68.1 | )
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |  |  |  |  |  |  |
Proceeds from borrowings under credit agreements |  | 4,630.3 |  | — |  | 8.4 |  | — |  | 4,638.7 |
Repayments of borrowings under credit agreements |  | (5,580.0 | ) | (25.9 | ) | (29.3 | ) | — |  | (5,635.2 | )
Issuance of unsecured senior notes |  | 1,000.0 |  | — |  | — |  | — |  | 1,000.0 |
Redemption of unsecured senior notes |  | — |  | (179.2 | ) | — |  | — |  | (179.2 | )
Cash paid for debt and equity issuance costs |  | (13.1 | ) | — |  | — |  | — |  | (13.1 | )
Proceeds from issuance of common stock |  | 24.7 |  | — |  | — |  | — |  | 24.7 |
Proceeds from exercise of stock options |  | 3.6 |  | — |  | — |  | — |  | 3.6 |
Payments to repurchase common stock |  | (22.3 | ) | — |  | — |  | — |  | (22.3 | )
Net distributions to noncontrolling interests |  | — |  | — |  | (44.6 | ) | — |  | (44.6 | )
Other financing activities |  | (17.0 | ) | (65.4 | ) | 53.0 |  | — |  | (29.4 | )
Net borrowings (repayments) on intercompany notes |  | 24.3 |  | (17.4 | ) | 18.2 |  | (25.1 | ) | — |
Other intercompany financing activities |  | — |  | (188.9 | ) | 118.5 |  | 70.4 |  | — |
Net cash provided by (used in) financing activities |  | 50.5 |  | (476.8 | ) | 124.2 |  | 45.3 |  | (256.8 | )
EFFECT OF EXCHANGE RATE CHANGES ON CASH |  | — |  | — |  | (0.2 | ) | — |  | (0.2 | )
NET INCREASE IN CASH AND CASH EQUIVALENTS |  | 26.0 |  | 8.1 |  | 86.2 |  | — |  | 120.3 |
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR |  | 1.8 |  | 183.7 |  | 506.6 |  | — |  | 692.1 |
CASH AND CASH EQUIVALENTS AT END OF YEAR |  | $ | 27.8 |  | $ | 191.8 |  | $ | 592.8 |  | $ | — |  | $ | 812.4 |
Condensed Consolidating Statements of Cash Flows (unaudited - in millions)
|  | For the nine months ended June 30, 2016 |
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total |
CASH FLOWS FROM OPERATING ACTIVITIES |  | $ | (288.0 | ) | $ | 507.2 |  | $ | 232.1 |  | $ | — |  | $ | 451.3 |
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |  |  |  |  |  |  |
Payments for business acquisitions, net of cash acquired |  | — |  | (1.0 | ) | — |  | — |  | (1.0 | )
Proceeds from disposal of businesses and property |  | — |  | — |  | 39.7 |  | — |  | 39.7 |
Net investment in unconsolidated joint ventures |  | — |  | (3.7 | ) | (58.5 | ) | — |  | (62.2 | )
Net sales of investments |  | — |  | — |  | 11.4 |  | — |  | 11.4 |
Payments for capital expenditures, net of disposals |  | (68.6 | ) | (35.3 | ) | 4.1 |  | — |  | (99.8 | )
Net (investment in) receipts from intercompany notes |  | 2.5 |  | 142.4 |  | (11.7 | ) | (133.2 | ) | — |
Other intercompany investing activities |  | 645.9 |  | 112.2 |  | — |  | (758.1 | ) | — |
Net cash provided by (used in) investing activities |  | 579.8 |  | 214.6 |  | (15.0 | ) | (891.3 | ) | (111.9 | )
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |  |  |  |  |  |  |
Proceeds from borrowings under credit agreements |  | 3,421.5 |  | 8.3 |  | 16.4 |  | — |  | 3,446.2 |
Repayments of borrowings under credit agreements |  | (3,714.6 | ) | (16.8 | ) | (30.0 | ) | — |  | (3,761.4 | )
Cash paid for debt and equity issuance costs |  | (2.0 | ) | — |  | — |  | — |  | (2.0 | )
Proceeds from issuance of common stock |  | 23.0 |  | — |  | — |  | — |  | 23.0 |
Proceeds from exercise of stock options |  | 8.7 |  | — |  | — |  | — |  | 8.7 |
Payments to repurchase common stock |  | (25.6 | ) | — |  | — |  | — |  | (25.6 | )
Excess tax benefit from share-based payment |  | 3.8 |  | — |  | — |  | — |  | 3.8 |
Net distributions to noncontrolling interests |  | — |  | — |  | (75.4 | ) | — |  | (75.4 | )
Other financing activities |  | (7.2 | ) | (20.7 | ) | 19.8 |  | — |  | (8.1 | )
Net borrowings (repayments) on intercompany notes |  | 1.0 |  | 10.7 |  | (144.9 | ) | 133.2 |  | — |
Other intercompany financing activities |  | — |  | (687.5 | ) | (70.6 | ) | 758.1 |  | — |
Net cash used in financing activities |  | (291.4 | ) | (706.0 | ) | (284.7 | ) | 891.3 |  | (390.8 | )
EFFECT OF EXCHANGE RATE CHANGES ON CASH |  | — |  | — |  | (4.5 | ) | — |  | (4.5 | )
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS |  | 0.4 |  | 15.8 |  | (72.1 | ) | — |  | (55.9 | )
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR |  | 1.3 |  | 162.5 |  | 520.1 |  | — |  | 683.9 |
CASH AND CASH EQUIVALENTS AT END OF YEAR |  | $ | 1.7 |  | $ | 178.3 |  | $ | 448.0 |  | $ | — |  | $ | 628.0 |

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