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Reportable Segments
 9 Months Ended
Jun. 30, 2017
Reportable Segments  
Reportable Segments

 

15.Reportable Segments

 

The Company’s operations are organized into four reportable segments: Design and Consulting Services (DCS), Construction Services (CS), Management Services (MS), and AECOM Capital (ACAP). During the third quarter of fiscal 2017, operating activities of ACAP achieved a level of significance sufficient to warrant disclosure as a separate reportable segment. Prior to the third quarter of fiscal 2017, ACAP’s operating results were included in the corporate segement, and comparable periods were reclassified to reflect the change. The Company’s DCS reportable segment delivers planning, consulting, architectural, environmental, and engineering design services to commercial and government clients worldwide. The Company’s CS reportable segment provides construction services primarily in the Americas. The Company’s MS reportable segment provides program and facilities management and maintenance, training, logistics, consulting, technical assistance, and systems integration and information technology services, primarily for agencies of the U.S. government. The Company’s ACAP segment invests in private-sector real estate, public-private partnership (P3) and infrastructure projects. These reportable segments are organized by the types of services provided, the differing specialized needs of the respective clients, and how the Company manages its business. The Company has aggregated various operating segments into its reportable segments based on their similar characteristics, including similar long term financial performance, the nature of services provided, internal processes for delivering those services, and types of customers.

 

During the first quarter of fiscal year 2017, an operation and maintenance related entity previously reported within the CS segment was realigned within the MS segment to reflect present management oversight. Accordingly, for the three and nine months ended June 30, 2016, approximately $33.0 million and $99.3 million of revenue, respectively, and $31.6 million and $94.5 million of cost of revenue, respectively, were reclassified to conform to the current period presentation.

 

The following tables set forth summarized financial information concerning the Company’s reportable segments:

 

Reportable Segments:

 

DCS

 

CS

 

MS

 

ACAP

 

Corporate

 

Total

 

 

 

(in millions)

 

Three Months Ended June 30, 2017:

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

$

1,863.5

 

$
1,841.7

 

$
856.3

 

$

—

 

$

—

 

$
4,561.5

 

Gross profit

 
91.2

 
26.2

 
57.8

 

—

 

—

 
175.2

 

Equity in earnings of joint ventures

 
2.5

 
7.0

 
8.6

 
48.4

 

—

 
66.5

 

General and administrative expenses

 

—

 

—

 

—

 
(2.1

)
(31.9

)
(34.0

)

Acquisition and integration expenses

 

—

 

—

 

—

 

—

 

—

 

—

 

Gain on disposal activities

 

—

 

—

 

—

 

—

 

—

 

—

 

Operating income

 
93.7

 
33.2

 
66.4

 
46.3

 
(31.9

)
207.7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross profit as a % of revenue

 
4.9

%
1.4

%
6.7

%

—

 

—

 
3.8

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended June 30, 2016:

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

$
1,920.6

 

$
1,650.8

 

$
837.4

 

$

—

 

$

—

 

$
4,408.8

 

Gross profit

 
122.9

 
7.7

 
40.7

 

—

 

—

 
171.3

 

Equity in earnings of joint ventures

 
1.0

 
3.5

 
14.0

 

—

 

—

 
18.5

 

General and administrative expenses

 

—

 

—

 

—

 
(1.6

)
(27.1

)
(28.7

)

Acquisition and integration expenses

 

—

 

—

 

—

 

—

 
(50.7

)
(50.7

)

Operating income

 
123.9

 
11.2

 
54.7

 
(1.6

)
(77.8

)
110.4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross profit as a % of revenue

 
6.4

%
0.5

%
4.9

%

—

 

—

 
3.9

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine Months Ended June 30, 2017:

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

$
5,571.8

 

$
5,324.6

 

$
2,450.6

 

$

—

 

$

—

 

$
13,347.0

 

Gross profit

 
292.5

 
60.4

 
160.7

 

—

 

—

 
513.6

 

Equity in earnings of joint ventures

 
12.6

 
16.6

 
32.1

 
48.4

 

—

 
109.7

 

General and administrative expenses

 

—

 

—

 

—

 
(6.6

)
(89.9

)
(96.5

)

Acquisition and integration expenses

 

—

 

—

 

—

 

—

 
(35.4

)
(35.4

)

Gain on disposal activities

 
0.6

 

—

 

—

 

—

 

—

 
0.6

 

Operating income

 
305.7

 
77.0

 
192.8

 
41.8

 
(125.3

)
492.0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross profit as a % of revenue

 
5.2

%
1.1

%
6.6

%

—

 

—

 
3.8

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine Months Ended June 30, 2016:

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

$
5,748.9

 

$
4,842.5

 

$
2,496.3

 

$

—

 

$

—

 

$
13,087.7

 

Gross profit

 
299.4

 
23.0

 
173.2

 

—

 

—

 
495.6

 

Equity in earnings of joint ventures

 
6.2

 
8.9

 
67.7

 

—

 

—

 
82.8

 

General and administrative expenses

 

—

 

—

 

—

 
(4.6

)
(82.3

)
(86.9

)

Acquisition and integration expenses

 

—

 

—

 

—

 

—

 
(142.4

)
(142.4

)

Loss on disposal activities

 

—

 
(42.6

)

—

 

—

 

—

 
(42.6

)

Operating income

 
305.6

 
(10.7

)
240.9

 
(4.6

)
(224.7

)
306.5

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross profit as a % of revenue

 
5.2

%
0.5

%
6.9

%

—

 

—

 
3.8

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Reportable Segments:

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 

 

 

 

 

 

 

 

 

 

 

 

 

June 30, 2017

 

$
6,691.1

 

$
3,744.5

 

$
2,638.7

 

$
190.8

 

$
571.1

 

$
13,836.2

 

September 30, 2016

 
6,655.7

 
3,556.2

 
2,692.7

 
179.1

 
586.2

 
13,669.9