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Condensed Consolidating Financial Information (Tables) | 6 Months Ended
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Mar. 31, 2018
Condensed Consolidating Financial Information |
Schedule of Condensed Consolidating Balance Sheets | Condensed Consolidating Balance Sheets (unaudited — in millions) March 31, 2018
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total |
ASSETS |  |  |  |  |  |  |  |  |  |  |
CURRENT ASSETS: |  |  |  |  |  |  |  |  |  |  |
Total cash and cash equivalents |  | $ | 4.6 |  | $ | 262.3 |  | $ | 600.3 |  | $ | — |  | $ | 867.2 |
Accounts receivable—net |  | — |  | 2,556.0 |  | 2,652.9 |  | — |  | 5,208.9 |
Intercompany receivable |  | 735.9 |  | 78.0 |  | 135.3 |  | (949.2 | ) | — |
Prepaid expenses and other current assets |  | 66.8 |  | 332.8 |  | 249.0 |  | — |  | 648.6 |
Current assets held for sale |  | — |  | — |  | 116.8 |  | — |  | 116.8 |
Income taxes receivable |  | 30.1 |  | — |  | 52.4 |  | — |  | 82.5 |
TOTAL CURRENT ASSETS |  | 837.4 |  | 3,229.1 |  | 3,806.7 |  | (949.2 | ) | 6,924.0 |
PROPERTY AND EQUIPMENT—NET |  | 176.5 |  | 225.3 |  | 181.6 |  | — |  | 583.4 |
DEFERRED TAX ASSETS—NET |  | 149.9 |  | 56.0 |  | 172.6 |  | (158.6 | ) | 219.9 |
INVESTMENTS IN CONSOLIDATED SUBSIDIARIES |  | 6,797.7 |  | 2,280.9 |  | — |  | (9,078.6 | ) | — |
INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES |  | 10.9 |  | 60.1 |  | 313.9 |  | — |  | 384.9 |
GOODWILL |  | — |  | 3,392.7 |  | 2,549.9 |  | — |  | 5,942.6 |
INTANGIBLE ASSETS—NET |  | — |  | 243.3 |  | 124.9 |  | — |  | 368.2 |
OTHER NON-CURRENT ASSETS |  | 50.3 |  | 49.3 |  | 94.7 |  | — |  | 194.3 |
TOTAL ASSETS |  | $ | 8,022.7 |  | $ | 9,536.7 |  | $ | 7,244.3 |  | $ | (10,186.4 | ) | $ | 14,617.3 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |  |  |
CURRENT LIABILITIES: |  |  |  |  |  |  |  |  |  |  |
Short-term debt |  | $ | 9.8 |  | $ | — |  | $ | — |  | $ | — |  | $ | 9.8 |
Accounts payable |  | 31.1 |  | 1,368.9 |  | 886.2 |  | — |  | 2,286.2 |
Accrued expenses and other current liabilities |  | 56.7 |  | 1,052.0 |  | 1,059.0 |  | — |  | 2,167.7 |
Income taxes payable |  | — |  | — |  | 28.4 |  | — |  | 28.4 |
Intercompany payable |  | 93.4 |  | 777.0 |  | 164.9 |  | (1,035.3 | ) | — |
Billings in excess of costs on uncompleted contracts |  | 2.4 |  | 350.3 |  | 626.7 |  | — |  | 979.4 |
Current liabilities held for sale |  | — |  | — |  | 46.5 |  | — |  | 46.5 |
Current portion of long-term debt |  | 36.5 |  | 26.2 |  | 61.2 |  | — |  | 123.9 |
TOTAL CURRENT LIABILITIES |  | 229.9 |  | 3,574.4 |  | 2,872.9 |  | (1,035.3 | ) | 5,641.9 |
OTHER LONG-TERM LIABILITIES |  | 138.8 |  | 264.7 |  | 485.9 |  | — |  | 889.4 |
DEFERRED TAX LIABILITY—NET |  | — |  | — |  | 165.0 |  | (158.6 | ) | 6.4 |
NOTE PAYABLE INTERCOMPANY—NON CURRENT |  | 671.4 |  | — |  | 477.3 |  | (1,148.7 | ) | — |
LONG-TERM DEBT |  | 2,949.3 |  | 277.1 |  | 588.6 |  | — |  | 3,815.0 |
TOTAL LIABILITIES |  | 3,989.4 |  | 4,116.2 |  | 4,589.7 |  | (2,342.6 | ) | 10,352.7 |
TOTAL AECOM STOCKHOLDERS’ EQUITY |  | 4,033.3 |  | 5,420.5 |  | 2,430.7 |  | (7,843.8 | ) | 4,040.7 |
Noncontrolling interests |  | — |  | — |  | 223.9 |  | — |  | 223.9 |
TOTAL STOCKHOLDERS’ EQUITY |  | 4,033.3 |  | 5,420.5 |  | 2,654.6 |  | (7,843.8 | ) | 4,264.6 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY |  | $ | 8,022.7 |  | $ | 9,536.7 |  | $ | 7,244.3 |  | $ | (10,186.4 | ) | $ | 14,617.3 |
Condensed Consolidating Balance Sheets (unaudited - in millions) September 30, 2017
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total |
ASSETS |  |  |  |  |  |  |  |  |  |  |
CURRENT ASSETS: |  |  |  |  |  |  |  |  |  |  |
Total cash and cash equivalents |  | $ | 32.6 |  | $ | 254.9 |  | $ | 514.9 |  | $ | — |  | $ | 802.4 |
Accounts receivable—net |  | — |  | 2,426.4 |  | 2,701.3 |  | — |  | 5,127.7 |
Intercompany receivable |  | 723.6 |  | 89.0 |  | 183.4 |  | (996.0 | ) | — |
Prepaid expenses and other current assets |  | 67.5 |  | 366.5 |  | 262.7 |  | — |  | 696.7 |
Income taxes receivable |  | 4.3 |  | — |  | 51.1 |  | — |  | 55.4 |
TOTAL CURRENT ASSETS |  | 828.0 |  | 3,136.8 |  | 3,713.4 |  | (996.0 | ) | 6,682.2 |
PROPERTY AND EQUIPMENT—NET |  | 160.2 |  | 215.0 |  | 246.2 |  | — |  | 621.4 |
DEFERRED TAX ASSETS—NET |  | 239.7 |  | 61.7 |  | 164.5 |  | (294.6 | ) | 171.3 |
INVESTMENTS IN CONSOLIDATED SUBSIDIARIES |  | 6,606.2 |  | 2,812.8 |  | — |  | (9,419.0 | ) | — |
INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES |  | 7.2 |  | 69.7 |  | 287.3 |  | — |  | 364.2 |
GOODWILL |  | — |  | 3,392.7 |  | 2,600.2 |  | — |  | 5,992.9 |
INTANGIBLE ASSETS—NET |  | — |  | 271.6 |  | 143.5 |  | — |  | 415.1 |
OTHER NON-CURRENT ASSETS |  | 8.7 |  | 47.4 |  | 93.8 |  | — |  | 149.9 |
TOTAL ASSETS |  | $ | 7,850.0 |  | $ | 10,007.7 |  | $ | 7,248.9 |  | $ | (10,709.6 | ) | $ | 14,397.0 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |  |  |
CURRENT LIABILITIES: |  |  |  |  |  |  |  |  |  |  |
Short-term debt |  | $ | 1.1 |  | $ | — |  | $ | 0.1 |  | $ | — |  | $ | 1.2 |
Accounts payable |  | 33.8 |  | 1,301.7 |  | 914.4 |  | — |  | 2,249.9 |
Accrued expenses and other current liabilities |  | 92.2 |  | 1,171.8 |  | 981.5 |  | — |  | 2,245.5 |
Income taxes payable |  | — |  | 8.1 |  | 30.1 |  | — |  | 38.2 |
Intercompany payable |  | 149.2 |  | 789.5 |  | 159.6 |  | (1,098.3 | ) | — |
Billings in excess of costs on uncompleted contracts |  | 3.4 |  | 341.7 |  | 557.7 |  | — |  | 902.8 |
Current portion of long-term debt |  | 110.9 |  | 14.9 |  | 15.0 |  | — |  | 140.8 |
TOTAL CURRENT LIABILITIES |  | 390.6 |  | 3,627.7 |  | 2,658.4 |  | (1,098.3 | ) | 5,578.4 |
OTHER LONG-TERM LIABILITIES |  | 102.3 |  | 290.7 |  | 488.3 |  | — |  | 881.3 |
DEFERRED TAX LIABILITY—NET |  | — |  | 0.6 |  | 314.5 |  | (294.6 | ) | 20.5 |
NOTE PAYABLE INTERCOMPANY—NON CURRENT |  | 0.1 |  | — |  | 467.2 |  | (467.3 | ) | — |
LONG-TERM DEBT |  | 3,366.9 |  | 281.6 |  | 53.6 |  | — |  | 3,702.1 |
TOTAL LIABILITIES |  | 3,859.9 |  | 4,200.6 |  | 3,982.0 |  | (1,860.2 | ) | 10,182.3 |
TOTAL AECOM STOCKHOLDERS’ EQUITY |  | 3,990.1 |  | 5,807.1 |  | 3,048.3 |  | (8,849.4 | ) | 3,996.1 |
Noncontrolling interests |  | — |  | — |  | 218.6 |  | — |  | 218.6 |
TOTAL STOCKHOLDERS’ EQUITY |  | 3,990.1 |  | 5,807.1 |  | 3,266.9 |  | (8,849.4 | ) | 4,214.7 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY |  | $ | 7,850.0 |  | $ | 10,007.7 |  | $ | 7,248.9 |  | $ | (10,709.6 | ) | $ | 14,397.0 |
Schedule of Condensed Consolidating Statements of Operations | Condensed Consolidating Statements of Operations (unaudited - in millions)
|  | For the three months ended March 31, 2018 |
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total |
Revenue |  | $ | — |  | $ | 2,690.7 |  | $ | 2,130.0 |  | $ | (29.8 | ) | $ | 4,790.9 |
Cost of revenue |  | — |  | 2,610.4 |  | 2,069.1 |  | (29.8 | ) | 4,649.7 |
Gross profit |  | — |  | 80.3 |  | 60.9 |  | — |  | 141.2 |
Equity in earnings from subsidiaries |  | (18.2 | ) | (120.2 | ) | — |  | 138.4 |  | — |
Equity in earnings of joint ventures |  | — |  | 6.8 |  | 6.3 |  | — |  | 13.1 |
General and administrative expenses |  | (27.3 | ) | — |  | (2.9 | ) | — |  | (30.2 | )
Impairment of assets held for sale, including goodwill |  | — |  | — |  | (168.2 | ) | — |  | (168.2 | )
Loss from operations |  | (45.5 | ) | (33.1 | ) | (103.9 | ) | 138.4 |  | (44.1 | )
Other income |  | 10.2 |  | 5.1 |  | 4.0 |  | (6.8 | ) | 12.5 |
Interest expense |  | (93.0 | ) | (4.3 | ) | (10.0 | ) | 6.8 |  | (100.5 | )
Loss before income tax (benefit) expense |  | (128.3 | ) | (32.3 | ) | (109.9 | ) | 138.4 |  | (132.1 | )
Income tax (benefit) expense |  | (8.6 | ) | (17.6 | ) | 1.8 |  | — |  | (24.4 | )
Net loss |  | (119.7 | ) | (14.7 | ) | (111.7 | ) | 138.4 |  | (107.7 | )
Noncontrolling interest in income of consolidated subsidiaries, net of tax |  | — |  | — |  | (12.0 | ) | — |  | (12.0 | )
Net loss attributable to AECOM |  | $ | (119.7 | ) | $ | (14.7 | ) | $ | (123.7 | ) | $ | 138.4 |  | $ | (119.7 | )
|  | For the three months ended March 31, 2017 |
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total |
Revenue |  | $ | — |  | $ | 2,562.5 |  | $ | 1,855.6 |  | $ | 9.1 |  | $ | 4,427.2 |
Cost of revenue |  | — |  | 2,467.9 |  | 1,781.8 |  | 9.1 |  | 4,258.8 |
Gross profit |  | — |  | 94.6 |  | 73.8 |  | — |  | 168.4 |
Equity in earnings from subsidiaries |  | 166.0 |  | 102.0 |  | — |  | (268.0 | ) | — |
Equity in earnings of joint ventures |  | — |  | 9.1 |  | 12.7 |  | — |  | 21.8 |
General and administrative expenses |  | (28.1 | ) | — |  | (1.8 | ) | — |  | (29.9 | )
Acquisition and integration expenses |  | (20.0 | ) | — |  | — |  | — |  | (20.0 | )
Gain on disposal activity |  | — |  | — |  | 0.6 |  | — |  | 0.6 |
Income from operations |  | 117.9 |  | 205.7 |  | 85.3 |  | (268.0 | ) | 140.9 |
Other income |  | 0.5 |  | 8.4 |  | 1.5 |  | (9.1 | ) | 1.3 |
Interest expense |  | (55.1 | ) | (6.0 | ) | (9.8 | ) | 9.1 |  | (61.8 | )
Income before income tax (benefit) expense |  | 63.3 |  | 208.1 |  | 77.0 |  | (268.0 | ) | 80.4 |
Income tax (benefit) expense |  | (39.1 | ) | 41.4 |  | (37.7 | ) | — |  | (35.4 | )
Net income |  | 102.4 |  | 166.7 |  | 114.7 |  | (268.0 | ) | 115.8 |
Noncontrolling interest in income of consolidated subsidiaries, net of tax |  | — |  | — |  | (13.4 | ) | — |  | (13.4 | )
Net income attributable to AECOM |  | $ | 102.4 |  | $ | 166.7 |  | $ | 101.3 |  | $ | (268.0 | ) | $ | 102.4 |
Condensed Consolidating Statements of Operations (unaudited - in millions)
|  | For the six months ended March 31, 2018 |
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total |
Revenue |  | $ | — |  | $ | 5,412.0 |  | $ | 4,331.5 |  | $ | (41.8 | ) | $ | 9,701.7 |
Cost of revenue |  | — |  | 5,218.2 |  | 4,247.9 |  | (41.8 | ) | 9,424.3 |
Gross profit |  | — |  | 193.8 |  | 83.6 |  | — |  | 277.4 |
Equity in earnings from subsidiaries |  | 187.9 |  | 63.0 |  | — |  | (250.9 | ) | — |
Equity in earnings of joint ventures |  | — |  | 24.0 |  | 18.8 |  | — |  | 42.8 |
General and administrative expenses |  | (59.4 | ) | — |  | (5.5 | ) | — |  | (64.9 | )
Impairment of assets held for sale, including goodwill |  | — |  | — |  | (168.2 | ) | — |  | (168.2 | )
Income/(loss) from operations |  | 128.5 |  | 280.8 |  | (71.3 | ) | (250.9 | ) | 87.1 |
Other income |  | 10.4 |  | 10.5 |  | 6.7 |  | (12.8 | ) | 14.8 |
Interest expense |  | (145.3 | ) | (8.9 | ) | (15.3 | ) | 12.8 |  | (156.7 | )
(Loss) income before income tax expense (benefit) |  | (6.4 | ) | 282.4 |  | (79.9 | ) | (250.9 | ) | (54.8 | )
Income tax expense (benefit) |  | 2.0 |  | 94.9 |  | (168.4 | ) | — |  | (71.5 | )
Net (loss) income |  | (8.4 | ) | 187.5 |  | 88.5 |  | (250.9 | ) | 16.7 |
Noncontrolling interest in income of consolidated subsidiaries, net of tax |  | — |  | — |  | (25.1 | ) | — |  | (25.1 | )
Net (loss) income attributable to AECOM |  | $ | (8.4 | ) | $ | 187.5 |  | $ | 63.4 |  | $ | (250.9 | ) | $ | (8.4 | )
|  | For the six months ended March 31, 2017 |
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total |
Revenue |  | $ | — |  | $ | 5,095.2 |  | $ | 3,694.5 |  | $ | (4.2 | ) | $ | 8,785.5 |
Cost of revenue |  | — |  | 4,883.9 |  | 3,567.4 |  | (4.2 | ) | 8,447.1 |
Gross profit |  | — |  | 211.3 |  | 127.1 |  | — |  | 338.4 |
Equity in earnings from subsidiaries |  | 283.6 |  | 131.2 |  | — |  | (414.8 | ) | — |
Equity in earnings of joint ventures |  | — |  | 22.0 |  | 21.2 |  | — |  | 43.2 |
General and administrative expenses |  | (58.0 | ) | — |  | (4.5 | ) | — |  | (62.5 | )
Acquisition and integration expenses |  | (35.4 | ) | — |  | — |  | — |  | (35.4 | )
Gain on disposal activity |  | — |  | — |  | 0.6 |  | — |  | 0.6 |
Income from operations |  | 190.2 |  | 364.5 |  | 144.4 |  | (414.8 | ) | 284.3 |
Other income |  | 0.9 |  | 16.0 |  | 4.4 |  | (19.2 | ) | 2.1 |
Interest expense |  | (102.9 | ) | (11.6 | ) | (20.1 | ) | 19.2 |  | (115.4 | )
Income before income tax (benefit) expense |  | 88.2 |  | 368.9 |  | 128.7 |  | (414.8 | ) | 171.0 |
Income tax (benefit) expense |  | (61.4 | ) | 77.4 |  | (26.6 | ) | — |  | (10.6 | )
Net income |  | 149.6 |  | 291.5 |  | 155.3 |  | (414.8 | ) | 181.6 |
Noncontrolling interest in income of consolidated subsidiaries, net of tax |  | — |  | — |  | (32.0 | ) | — |  | (32.0 | )
Net income attributable to AECOM |  | $ | 149.6 |  | $ | 291.5 |  | $ | 123.3 |  | $ | (414.8 | ) | $ | 149.6 |
Schedule of Consolidating Statements of Comprehensive Income (Loss) | Consolidating Statements of Comprehensive Income (Loss) (unaudited - in millions)
|  | For the three months ended March 31, 2018 |
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total |
Net loss |  | $ | (119.7 | ) | $ | (14.7 | ) | $ | (111.7 | ) | $ | 138.4 |  | $ | (107.7 | )
Other comprehensive income (loss), net of tax: |  |  |  |  |  |  |  |  |  |  |
Net unrealized loss on derivatives, net of tax |  | (0.1 | ) | — |  | (1.6 | ) | — |  | (1.7 | )
Foreign currency translation adjustments |  | — |  | — |  | 15.5 |  | — |  | 15.5 |
Pension adjustments, net of tax |  | 0.7 |  | — |  | (16.8 | ) | — |  | (16.1 | )
Other comprehensive income (loss), net of tax |  | 0.6 |  | — |  | (2.9 | ) | — |  | (2.3 | )
Comprehensive loss, net of tax |  | (119.1 | ) | (14.7 | ) | (114.6 | ) | 138.4 |  | (110.0 | )
Noncontrolling interests in comprehensive income of consolidated subsidiaries, net of tax |  | — |  | — |  | (12.6 | ) | — |  | (12.6 | )
Comprehensive loss attributable to AECOM, net of tax |  | $ | (119.1 | ) | $ | (14.7 | ) | $ | (127.2 | ) | $ | 138.4 |  | $ | (122.6 | )
|  | For the three months ended March 31, 2017 |
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total |
Net income |  | $ | 102.4 |  | $ | 166.7 |  | $ | 114.7 |  | $ | (268.0 | ) | $ | 115.8 |
Other comprehensive income (loss), net of tax: |  |  |  |  |  |  |  |  |  |  |
Net unrealized gain on derivatives, net of tax |  | 1.2 |  | — |  | 1.1 |  | — |  | 2.3 |
Foreign currency translation adjustments |  | — |  | — |  | 40.9 |  | — |  | 40.9 |
Pension adjustments, net of tax |  | 0.7 |  | — |  | (2.2 | ) | — |  | (1.5 | )
Other comprehensive income, net of tax |  | 1.9 |  | — |  | 39.8 |  | — |  | 41.7 |
Comprehensive income, net of tax |  | 104.3 |  | 166.7 |  | 154.5 |  | (268.0 | ) | 157.5 |
Noncontrolling interests in comprehensive income of consolidated subsidiaries, net of tax |  | — |  | — |  | (13.8 | ) | — |  | (13.8 | )
Comprehensive income attributable to AECOM, net of tax |  | $ | 104.3 |  | $ | 166.7 |  | $ | 140.7 |  | $ | (268.0 | ) | $ | 143.7 |
Consolidating Statements of Comprehensive Income (Loss) (unaudited - in millions)
|  | For the six months ended March 31, 2018 |
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total |
Net income (loss) |  | $ | (8.4 | ) | $ | 187.5 |  | $ | 88.5 |  | $ | (250.9 | ) | $ | 16.7 |
Other comprehensive income (loss), net of tax: |  |  |  |  |  |  |  |  |  |  |
Net unrealized gain (loss) on derivatives, net of tax |  | 0.6 |  | — |  | (1.5 | ) | — |  | (0.9 | )
Foreign currency translation adjustments |  | — |  | — |  | 9.5 |  | — |  | 9.5 |
Pension adjustments, net of tax |  | 1.5 |  | — |  | (15.1 | ) | — |  | (13.6 | )
Other comprehensive income (loss), net of tax |  | 2.1 |  | — |  | (7.1 | ) | — |  | (5.0 | )
Comprehensive (loss) income, net of tax |  | (6.3 | ) | 187.5 |  | 81.4 |  | (250.9 | ) | 11.7 |
Noncontrolling interests in comprehensive income of consolidated subsidiaries, net of tax |  | — |  | — |  | (26.5 | ) | — |  | (26.5 | )
Comprehensive loss attributable to AECOM, net of tax |  | $ | (6.3 | ) | $ | 187.5 |  | $ | 54.9 |  | $ | (250.9 | ) | $ | (14.8 | )
|  | For the six months ended March 31, 2017 |
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total |
Net income |  | $ | 149.6 |  | $ | 291.5 |  | $ | 155.3 |  | $ | (414.8 | ) | $ | 181.6 |
Other comprehensive income (loss), net of tax: |  |  |  |  |  |  |  |  |  |  |
Net unrealized gain (loss) on derivatives, net of tax |  | 4.1 |  | — |  | (0.4 | ) | — |  | 3.7 |
Foreign currency translation adjustments |  | — |  | — |  | (33.0 | ) | — |  | (33.0 | )
Pension adjustments, net of tax |  | 1.3 |  | — |  | 14.1 |  | — |  | 15.4 |
Other comprehensive income (loss), net of tax |  | 5.4 |  | — |  | (19.3 | ) | — |  | (13.9 | )
Comprehensive income, net of tax |  | 155.0 |  | 291.5 |  | 136.0 |  | (414.8 | ) | 167.7 |
Noncontrolling interests in comprehensive income of consolidated subsidiaries, net of tax |  | — |  | — |  | (32.1 | ) | — |  | (32.1 | )
Comprehensive income attributable to AECOM, net of tax |  | $ | 155.0 |  | $ | 291.5 |  | $ | 103.9 |  | $ | (414.8 | ) | $ | 135.6 |
Schedule on Condensed Consolidating Statements of Cash Flows | Condensed Consolidating Statements of Cash Flows (unaudited - in millions)
|  | For the six months ended March 31, 2018 |
|  | Parent |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Total |
CASH FLOWS FROM OPERATING ACTIVITIES |  | $ | (149.6 | ) | $ | 121.0 |  | $ | 199.4 |  | $ | — |  | $ | 170.8 |
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |  |  |  |  |  |  |
Proceeds from purchase price adjustment to business acquisition |  | — |  | — |  | 2.2 |  | — |  | 2.2 |
Cash acquired from consolidation of joint venture |  | — |  | — |  | 7.6 |  | — |  | 7.6 |
Net investment in unconsolidated joint ventures |  | (3.7 | ) | (9.3 | ) | (42.6 | ) | — |  | (55.6 | )
Proceeds from sales of investments |  | — |  | — |  | 0.2 |  | — |  | 0.2 |
Payments for capital expenditures, net of disposals |  | (6.7 | ) | (26.6 | ) | (8.9 | ) | — |  | (42.2 | )
Net investment in intercompany notes |  | (1.7 | ) | (611.1 | ) | (61.9 | ) | 674.7 |  | — |
Other intercompany investing activities |  | 5.9 |  | 627.3 |  | — |  | (633.2 | ) | — |
Net cash used in investing activities |  | (6.2 | ) | (19.7 | ) | (103.4 | ) | 41.5 |  | (87.8 | )
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |  |  |  |  |  |  |
Proceeds from borrowings under credit agreements |  | 5,049.0 |  | — |  | 664.4 |  | — |  | 5,713.4 |
Repayments of borrowings under credit agreements |  | (4,743.9 | ) | (9.5 | ) | (83.1 | ) | — |  | (4,836.5 | )
Redemption of unsecured senior notes |  | (800.0 | ) | — |  | — |  | — |  | (800.0 | )
Prepayment premium on redemption of unsecured senior notes |  | (34.5 | ) | — |  | — |  | — |  | (34.5 | )
Cash paid for debt issuance costs |  | (10.4 | ) | — |  | — |  | — |  | (10.4 | )
Proceeds from issuance of common stock |  | 15.5 |  | — |  | — |  | — |  | 15.5 |
Proceeds from exercise of stock options |  | 3.2 |  | — |  | — |  | — |  | 3.2 |
Payments to repurchase common stock |  | (27.2 | ) | — |  | — |  | — |  | (27.2 | )
Net distributions to noncontrolling interests |  | — |  | — |  | (24.1 | ) | — |  | (24.1 | )
Other financing activities |  | 6.2 |  | (48.0 | ) | 18.1 |  | — |  | (23.7 | )
Net borrowings (repayments) on intercompany notes |  | 669.9 |  | (16.7 | ) | 21.5 |  | (674.7 | ) | — |
Other intercompany financing activities |  | — |  | (19.7 | ) | (613.5 | ) | 633.2 |  | — |
Net cash provided by (used in) financing activities |  | 127.8 |  | (93.9 | ) | (16.7 | ) | (41.5 | ) | (24.3 | )
EFFECT OF EXCHANGE RATE CHANGES ON CASH |  | — |  | — |  | 6.1 |  | — |  | 6.1 |
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS |  | (28.0 | ) | 7.4 |  | 85.4 |  | — |  | 64.8 |
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR |  | 32.6 |  | 254.9 |  | 514.9 |  | — |  | 802.4 |
CASH AND CASH EQUIVALENTS AT END OF YEAR |  | $ | 4.6 |  | $ | 262.3 |  | $ | 600.3 |  | $ | — |  | $ | 867.2 |
Condensed Consolidating Statements of Cash Flows (unaudited - in millions)
|  | For the six months ended March 31, 2017 |
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total |
CASH FLOWS FROM OPERATING ACTIVITIES |  | $ | (137.5 | ) | $ | 117.3 |  | $ | 51.6 |  | $ | — |  | $ | 31.4 |
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |  |  |  |  |  |  |
Proceeds from disposal of business, net of cash disposed |  | — |  | — |  | 2.2 |  | — |  | 2.2 |
Net investment in unconsolidated joint ventures |  | — |  | (0.7 | ) | (21.3 | ) | — |  | (22.0 | )
Proceeds from sales of investments |  | — |  | — |  | 0.6 |  | — |  | 0.6 |
Payments for capital expenditures, net of disposals |  | (10.2 | ) | (18.0 | ) | (10.5 | ) | — |  | (38.7 | )
Net (investment in) receipts from intercompany notes |  | (6.8 | ) | (3.6 | ) | 20.5 |  | (10.1 | ) | — |
Other intercompany investing activities |  | 44.5 |  | (70.6 | ) | 0.1 |  | 26.0 |  | — |
Net cash provided by (used in) investing activities |  | 27.5 |  | (92.9 | ) | (8.4 | ) | 15.9 |  | (57.9 | )
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |  |  |  |  |  |  |
Proceeds from borrowings under credit agreements |  | 3,116.3 |  | — |  | 6.8 |  | — |  | 3,123.1 |
Repayments of borrowings under credit agreements |  | (3,979.0 | ) | (12.7 | ) | (11.3 | ) | — |  | (4,003.0 | )
Proceeds from issuance of unsecured senior notes |  | 1,000.0 |  | — |  | — |  | — |  | 1,000.0 |
Cash paid for debt issuance costs |  | (12.5 | ) | — |  | — |  | — |  | (12.5 | )
Proceeds from issuance of common stock |  | 14.3 |  | — |  | — |  | — |  | 14.3 |
Proceeds from exercise of stock options |  | 3.7 |  | — |  | — |  | — |  | 3.7 |
Payments to repurchase common stock |  | (18.0 | ) | — |  | — |  | — |  | (18.0 | )
Net distributions to noncontrolling interests |  | — |  | — |  | (33.4 | ) | — |  | (33.4 | )
Other financing activities |  | (11.3 | ) | (35.8 | ) | 37.0 |  | — |  | (10.1 | )
Net borrowings (repayments) on intercompany notes |  | 1.0 |  | (20.5 | ) | 9.4 |  | 10.1 |  | — |
Other intercompany financing activities |  | — |  | 60.2 |  | (34.2 | ) | (26.0 | ) | — |
Net cash provided by (used in) financing activities |  | 114.5 |  | (8.8 | ) | (25.7 | ) | (15.9 | ) | 64.1 |
EFFECT OF EXCHANGE RATE CHANGES ON CASH |  | — |  | — |  | (3.7 | ) | — |  | (3.7 | )
NET INCREASE IN CASH AND CASH EQUIVALENTS |  | 4.5 |  | 15.6 |  | 13.8 |  | — |  | 33.9 |
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR |  | 1.8 |  | 196.3 |  | 494.0 |  | — |  | 692.1 |
CASH AND CASH EQUIVALENTS AT END OF YEAR |  | $ | 6.3 |  | $ | 211.9 |  | $ | 507.8 |  | $ | — |  | $ | 726.0 |

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