21. Quarterly Financial Information—Unaudited

In the opinion of management, the following unaudited quarterly data reflects all adjustments necessary for a fair statement of the results of operations. All such adjustments are of a normal recurring nature.


	First		Second		Third		Fourth
Fiscal Year 2018:	Quarter		Quarter		Quarter		Quarter
	(in millions, except per share data)
Revenue	$	4,910.8	$	4,790.9	$	5,148.0	$	5,305.8
Cost of revenue		4,774.6		4,649.7		4,962.8		5,117.8
Gross profit		136.2		141.2		185.2		188.0
Equity in earnings of joint ventures		29.7		13.1		12.8		25.5
General and administrative expenses		(34.7)		(30.2)		(35.1)		(35.7)
Impairment of assets held for sale, including goodwill		—		(168.2)		—		—
Loss on disposal activities		—		—		(2.1)		(0.8)
Income (loss) from operations		131.2		(44.1)		160.8		177.0
Other income		2.3		12.5		2.7		2.6
Interest expense		(56.2)		(100.5)		(55.3)		(55.5)
Income (loss) before income tax (benefit) expense		77.3		(132.1)		108.2		124.1
Income tax (benefit) expense		(47.1)		(24.4)		33.1		18.7
Net income (loss)		124.4		(107.7)		75.1		105.4
Noncontrolling interest in income of consolidated subsidiaries, net of tax		(13.1)		(12.0)		(14.2)		(21.4)
Net income (loss) attributable to AECOM	$	111.3	$	(119.7)	$	60.9	$	84.0
Net income (loss) attributable to AECOM per share:
Basic	$	0.70	$	(0.75)	$	0.38	$	0.53
Diluted	$	0.69	$	(0.75)	$	0.37	$	0.52
Weighted average common shares outstanding:
Basic		157.9		159.5		160.4		158.6
Diluted		161.8		159.5		163.2		161.8


	First		Second		Third		Fourth
Fiscal Year 2017:	Quarter		Quarter		Quarter		Quarter
	(in millions, except per share data)
Revenue	$	4,358.3	$	4,427.2	$	4,561.5	$	4,856.4
Cost of revenue		4,188.3		4,258.8		4,386.3		4,686.3
Gross profit		170.0		168.4		175.2		170.1
Equity in earnings of joint ventures		21.4		21.8		66.5		31.9
General and administrative expenses		(32.6)		(29.9)		(34.0)		(36.9)
Acquisition and integration expenses		(15.4)		(20.0)		—		(3.3)
Gain on disposal activities		—		0.6		—		—
Income from operations		143.4		140.9		207.7		161.8
Other income		0.8		1.3		2.1		2.5
Interest expense		(53.6)		(61.8)		(61.6)		(54.3)
Income before income tax expense (benefit)		90.6		80.4		148.2		110.0
Income tax expense (benefit)		24.8		(35.4)		12.1		6.2
Net income		65.8		115.8		136.1		103.8
Noncontrolling interest in income of consolidated subsidiaries, net of tax		(18.6)		(13.4)		(34.8)		(15.3)
Net income attributable to AECOM	$	47.2	$	102.4	$	101.3	$	88.5
Net income attributable to AECOM per share:
Basic	$	0.31	$	0.66	$	0.65	$	0.56
Diluted	$	0.30	$	0.65	$	0.64	$	0.55
Weighted average common shares outstanding:
Basic		154.3		155.4		155.8		157.5
Diluted		158.0		158.7		158.8		161.1