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Condensed Consolidating Financial Information (Tables) | 9 Months Ended
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Jun. 30, 2018
Condensed Consolidating Financial Information |
Schedule of Condensed Consolidating Balance Sheets | Condensed Consolidating Balance Sheets (unaudited — in millions) June 30, 2018
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total |
ASSETS |  |  |  |  |  |  |  |  |  |  |
CURRENT ASSETS: |  |  |  |  |  |  |  |  |  |  |
Total cash and cash equivalents |  | $ | 2.0 |  | $ | 302.8 |  | $ | 496.6 |  | $ | — |  | $ | 801.4 |
Accounts receivable—net |  | — |  | 2,628.1 |  | 2,819.9 |  | — |  | 5,448.0 |
Intercompany receivable |  | 812.7 |  | 82.8 |  | 242.5 |  | (1,138.0 | ) | — |
Prepaid expenses and other current assets |  | 82.7 |  | 339.7 |  | 229.4 |  | — |  | 651.8 |
Current assets held for sale |  | — |  | — |  | 63.3 |  | — |  | 63.3 |
Income taxes receivable |  | 27.9 |  | — |  | 51.4 |  | — |  | 79.3 |
TOTAL CURRENT ASSETS |  | 925.3 |  | 3,353.4 |  | 3,903.1 |  | (1,138.0 | ) | 7,043.8 |
PROPERTY AND EQUIPMENT—NET |  | 201.8 |  | 221.3 |  | 184.1 |  | — |  | 607.2 |
DEFERRED TAX ASSETS—NET |  | 127.8 |  | 56.2 |  | 156.2 |  | (158.6 | ) | 181.6 |
INVESTMENTS IN CONSOLIDATED SUBSIDIARIES |  | 6,699.7 |  | 2,236.3 |  | — |  | (8,936.0 | ) | — |
INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES |  | 12.4 |  | 55.4 |  | 330.3 |  | — |  | 398.1 |
GOODWILL |  | — |  | 3,392.7 |  | 2,535.3 |  | — |  | 5,928.0 |
INTANGIBLE ASSETS—NET |  | — |  | 229.3 |  | 113.9 |  | — |  | 343.2 |
OTHER NON-CURRENT ASSETS |  | 53.7 |  | 46.3 |  | 125.5 |  | — |  | 225.5 |
TOTAL ASSETS |  | $ | 8,020.7 |  | $ | 9,590.9 |  | $ | 7,348.4 |  | $ | (10,232.6 | ) | $ | 14,727.4 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |  |  |
CURRENT LIABILITIES: |  |  |  |  |  |  |  |  |  |  |
Short-term debt |  | $ | 6.7 |  | $ | — |  | $ | 40.7 |  | $ | — |  | $ | 47.4 |
Accounts payable |  | 51.1 |  | 1,503.2 |  | 962.9 |  | — |  | 2,517.2 |
Accrued expenses and other current liabilities |  | 80.3 |  | 1,017.6 |  | 1,086.8 |  | — |  | 2,184.7 |
Income taxes payable |  | — |  | — |  | 28.5 |  | — |  | 28.5 |
Intercompany payable |  | 180.2 |  | 830.7 |  | 307.7 |  | (1,318.6 | ) | — |
Billings in excess of costs on uncompleted contracts |  | 2.0 |  | 359.1 |  | 607.7 |  | — |  | 968.8 |
Current liabilities held for sale |  | — |  | — |  | 17.9 |  | — |  | 17.9 |
Current portion of long-term debt |  | 41.7 |  | 26.7 |  | 57.2 |  | — |  | 125.6 |
TOTAL CURRENT LIABILITIES |  | 362.0 |  | 3,737.3 |  | 3,109.4 |  | (1,318.6 | ) | 5,890.1 |
OTHER LONG-TERM LIABILITIES |  | 140.0 |  | 268.5 |  | 447.0 |  | — |  | 855.5 |
DEFERRED TAX LIABILITY—NET |  | — |  | — |  | 173.0 |  | (158.6 | ) | 14.4 |
NOTE PAYABLE INTERCOMPANY—NON CURRENT |  | 675.8 |  | — |  | 482.3 |  | (1,158.1 | ) | — |
LONG-TERM DEBT |  | 2,856.3 |  | 284.8 |  | 566.2 |  | — |  | 3,707.3 |
TOTAL LIABILITIES |  | 4,034.1 |  | 4,290.6 |  | 4,777.9 |  | (2,635.3 | ) | 10,467.3 |
TOTAL AECOM STOCKHOLDERS’ EQUITY |  | 3,986.6 |  | 5,300.3 |  | 2,388.1 |  | (7,597.3 | ) | 4,077.7 |
Noncontrolling interests |  | — |  | — |  | 182.4 |  | — |  | 182.4 |
TOTAL STOCKHOLDERS’ EQUITY |  | 3,986.6 |  | 5,300.3 |  | 2,570.5 |  | (7,597.3 | ) | 4,260.1 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY |  | $ | 8,020.7 |  | $ | 9,590.9 |  | $ | 7,348.4 |  | $ | (10,232.6 | ) | $ | 14,727.4 |
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 June 30, 2018 |
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total |
Revenue |  | $ | — |  | $ | 2,818.1 |  | $ | 2,356.8 |  | $ | (26.9 | ) | $ | 5,148.0 |
Cost of revenue |  | — |  | 2,731.8 |  | 2,257.9 |  | (26.9 | ) | 4,962.8 |
Gross profit |  | — |  | 86.3 |  | 98.9 |  | — |  | 185.2 |
Equity in earnings from subsidiaries |  | 84.8 |  | 40.8 |  | — |  | (125.6 | ) | — |
Equity in earnings of joint ventures |  | — |  | 6.9 |  | 5.9 |  | — |  | 12.8 |
General and administrative expenses |  | (31.4 | ) | — |  | (3.7 | ) | — |  | (35.1 | )
Loss on disposal activities |  | — |  | — |  | (2.1 | ) | — |  | (2.1 | )
Income from operations |  | 53.4 |  | 134.0 |  | 99.0 |  | (125.6 | ) | 160.8 |
Other income |  | 0.4 |  | 9.6 |  | 3.2 |  | (10.5 | ) | 2.7 |
Interest expense |  | (49.0 | ) | (5.6 | ) | (11.2 | ) | 10.5 |  | (55.3 | )
Income before income tax (benefit) expense |  | 4.8 |  | 138.0 |  | 91.0 |  | (125.6 | ) | 108.2 |
Income tax (benefit) expense |  | (56.1 | ) | 54.5 |  | 34.7 |  | — |  | 33.1 |
Net income |  | 60.9 |  | 83.5 |  | 56.3 |  | (125.6 | ) | 75.1 |
Noncontrolling interest in income of consolidated subsidiaries, net of tax |  | — |  | — |  | (14.2 | ) | — |  | (14.2 | )
Net income attributable to AECOM |  | $ | 60.9 |  | $ | 83.5 |  | $ | 42.1 |  | $ | (125.6 | ) | $ | 60.9 |
|  | For the three months ended June 30, 2017 |
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total |
Revenue |  | $ | — |  | $ | 2,604.2 |  | $ | 2,005.4 |  | $ | (48.1 | ) | $ | 4,561.5 |
Cost of revenue |  | — |  | 2,526.4 |  | 1,908.0 |  | (48.1 | ) | 4,386.3 |
Gross profit |  | — |  | 77.8 |  | 97.4 |  | — |  | 175.2 |
Equity in earnings from subsidiaries |  | 112.5 |  | 18.1 |  | — |  | (130.6 | ) | — |
Equity in earnings of joint ventures |  | — |  | 12.5 |  | 54.0 |  | — |  | 66.5 |
General and administrative expenses |  | (31.9 | ) | — |  | (2.1 | ) | — |  | (34.0 | )
Income from operations |  | 80.6 |  | 108.4 |  | 149.3 |  | (130.6 | ) | 207.7 |
Other income |  | 0.8 |  | 7.6 |  | 2.4 |  | (8.7 | ) | 2.1 |
Interest expense |  | (52.6 | ) | (6.7 | ) | (11.0 | ) | 8.7 |  | (61.6 | )
Income before income tax (benefit) expense |  | 28.8 |  | 109.3 |  | 140.7 |  | (130.6 | ) | 148.2 |
Income tax (benefit) expense |  | (72.4 | ) | 37.4 |  | 47.1 |  | — |  | 12.1 |
Net income |  | 101.2 |  | 71.9 |  | 93.6 |  | (130.6 | ) | 136.1 |
Noncontrolling interest in income of consolidated subsidiaries, net of tax |  | — |  | — |  | (34.8 | ) | — |  | (34.8 | )
Net income attributable to AECOM |  | $ | 101.2 |  | $ | 71.9 |  | $ | 58.8 |  | $ | (130.6 | ) | $ | 101.3 |
Condensed Consolidating Statements of Operations (unaudited - in millions)
|  | For the nine months ended June 30, 2018 |
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total |
Revenue |  | $ | — |  | $ | 8,230.1 |  | $ | 6,688.3 |  | $ | (68.7 | ) | $ | 14,849.7 |
Cost of revenue |  | — |  | 7,950.0 |  | 6,505.8 |  | (68.7 | ) | 14,387.1 |
Gross profit |  | — |  | 280.1 |  | 182.5 |  | — |  | 462.6 |
Equity in earnings from subsidiaries |  | 272.7 |  | 103.8 |  | — |  | (376.5 | ) | — |
Equity in earnings of joint ventures |  | — |  | 30.9 |  | 24.7 |  | — |  | 55.6 |
General and administrative expenses |  | (90.8 | ) | — |  | (9.2 | ) | — |  | (100.0 | )
Impairment of assets held for sale, including goodwill |  | — |  | — |  | (168.2 | ) | — |  | (168.2 | )
Loss on disposal activities |  | — |  | — |  | (2.1 | ) | — |  | (2.1 | )
Income from operations |  | 181.9 |  | 414.8 |  | 27.7 |  | (376.5 | ) | 247.9 |
Other income |  | 10.8 |  | 20.1 |  | 9.9 |  | (23.3 | ) | 17.5 |
Interest expense |  | (194.3 | ) | (14.5 | ) | (26.5 | ) | 23.3 |  | (212.0 | )
(Loss) income before income tax (benefit) expense |  | (1.6 | ) | 420.4 |  | 11.1 |  | (376.5 | ) | 53.4 |
Income tax (benefit) expense |  | (54.1 | ) | 149.4 |  | (133.7 | ) | — |  | (38.4 | )
Net income |  | 52.5 |  | 271.0 |  | 144.8 |  | (376.5 | ) | 91.8 |
Noncontrolling interest in income of consolidated subsidiaries, net of tax |  | — |  | — |  | (39.3 | ) | — |  | (39.3 | )
Net income attributable to AECOM |  | $ | 52.5 |  | $ | 271.0 |  | $ | 105.5 |  | $ | (376.5 | ) | $ | 52.5 |
|  | For the nine months ended June 30, 2017 |
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total |
Revenue |  | $ | — |  | $ | 7,699.4 |  | $ | 5,699.9 |  | $ | (52.3 | ) | $ | 13,347.0 |
Cost of revenue |  | — |  | 7,410.3 |  | 5,475.4 |  | (52.3 | ) | 12,833.4 |
Gross profit |  | — |  | 289.1 |  | 224.5 |  | — |  | 513.6 |
Equity in earnings from subsidiaries |  | 396.1 |  | 149.3 |  | — |  | (545.4 | ) | — |
Equity in earnings of joint ventures |  | — |  | 34.5 |  | 75.2 |  | — |  | 109.7 |
General and administrative expenses |  | (89.9 | ) | — |  | (6.6 | ) | — |  | (96.5 | )
Acquisition and integration expenses |  | (35.4 | ) | — |  | — |  | — |  | (35.4 | )
Gain on disposal activities |  | — |  | — |  | 0.6 |  | — |  | 0.6 |
Income from operations |  | 270.8 |  | 472.9 |  | 293.7 |  | (545.4 | ) | 492.0 |
Other income |  | 1.7 |  | 23.6 |  | 6.8 |  | (27.9 | ) | 4.2 |
Interest expense |  | (155.5 | ) | (18.3 | ) | (31.1 | ) | 27.9 |  | (177.0 | )
Income before income tax (benefit) expense |  | 117.0 |  | 478.2 |  | 269.4 |  | (545.4 | ) | 319.2 |
Income tax (benefit) expense |  | (133.8 | ) | 114.8 |  | 20.5 |  | — |  | 1.5 |
Net income |  | 250.8 |  | 363.4 |  | 248.9 |  | (545.4 | ) | 317.7 |
Noncontrolling interest in income of consolidated subsidiaries, net of tax |  | — |  | — |  | (66.8 | ) | — |  | (66.8 | )
Net income attributable to AECOM |  | $ | 250.8 |  | $ | 363.4 |  | $ | 182.1 |  | $ | (545.4 | ) | $ | 250.9 |
Schedule of Consolidating Statements of Comprehensive Income (Loss) | Consolidating Statements of Comprehensive Income (Loss) (unaudited - in millions)
|  | For the three months ended June 30, 2018 |
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total |
Net income |  | $ | 60.9 |  | $ | 83.5 |  | $ | 56.3 |  | $ | (125.6 | ) | $ | 75.1 |
Other comprehensive income (loss), net of tax: |  |  |  |  |  |  |  |  |  |  |
Net unrealized gain (loss) on derivatives, net of tax |  | 0.9 |  | — |  | (0.2 | ) | — |  | 0.7 |
Foreign currency translation adjustments |  | — |  | — |  | (67.2 | ) | — |  | (67.2 | )
Pension adjustments, net of tax |  | 0.3 |  | — |  | 14.8 |  | — |  | 15.1 |
Other comprehensive income (loss), net of tax |  | 1.2 |  | — |  | (52.6 | ) | — |  | (51.4 | )
Comprehensive income, net of tax |  | 62.1 |  | 83.5 |  | 3.7 |  | (125.6 | ) | 23.7 |
Noncontrolling interests in comprehensive income of consolidated subsidiaries, net of tax |  | — |  | — |  | (14.0 | ) | — |  | (14.0 | )
Comprehensive income (loss) attributable to AECOM, net of tax |  | $ | 62.1 |  | $ | 83.5 |  | $ | (10.3 | ) | $ | (125.6 | ) | $ | 9.7 |
|  | For the three months ended June 30, 2017 |
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total |
Net income |  | $ | 101.2 |  | $ | 71.9 |  | $ | 93.6 |  | $ | (130.6 | ) | $ | 136.1 |
Other comprehensive income, 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 |  | 102.3 |  | 71.9 |  | 132.7 |  | (130.6 | ) | 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 |  | $ | 102.3 |  | $ | 71.9 |  | $ | 97.6 |  | $ | (130.6 | ) | $ | 141.2 |
Consolidating Statements of Comprehensive Income (Loss) (unaudited - in millions)
|  | For the nine months ended June 30, 2018 |
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total |
Net income |  | $ | 52.5 |  | $ | 271.0 |  | $ | 144.8 |  | $ | (376.5 | ) | $ | 91.8 |
Other comprehensive income (loss), net of tax: |  |  |  |  |  |  |  |  |  |  |
Net unrealized gain (loss) on derivatives, net of tax |  | 1.5 |  | — |  | (1.7 | ) | — |  | (0.2 | )
Foreign currency translation adjustments |  | — |  | — |  | (57.7 | ) | — |  | (57.7 | )
Pension adjustments, net of tax |  | 1.8 |  | — |  | (0.3 | ) | — |  | 1.5 |
Other comprehensive income (loss), net of tax |  | 3.3 |  | — |  | (59.7 | ) | — |  | (56.4 | )
Comprehensive income, net of tax |  | 55.8 |  | 271.0 |  | 85.1 |  | (376.5 | ) | 35.4 |
Noncontrolling interests in comprehensive income of consolidated subsidiaries, net of tax |  | — |  | — |  | (40.5 | ) | — |  | (40.5 | )
Comprehensive income (loss) attributable to AECOM, net of tax |  | $ | 55.8 |  | $ | 271.0 |  | $ | 44.6 |  | $ | (376.5 | ) | $ | (5.1 | )
|  | For the nine months ended June 30, 2017 |
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total |
Net income |  | $ | 250.8 |  | $ | 363.4 |  | $ | 248.9 |  | $ | (545.4 | ) | $ | 317.7 |
Other comprehensive income, 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 |  | 257.3 |  | 363.4 |  | 268.7 |  | (545.4 | ) | 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 |  | $ | 257.3 |  | $ | 363.4 |  | $ | 201.5 |  | $ | (545.4 | ) | $ | 276.8 |
Schedule on Condensed Consolidating Statements of Cash Flows | Condensed Consolidating Statements of Cash Flows (unaudited - in millions)
|  | For the nine months ended June 30, 2018 |
|  | Parent |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Total |
CASH FLOWS FROM OPERATING ACTIVITIES |  | $ | (59.9 | ) | $ | 257.3 |  | $ | 45.3 |  | $ | — |  | $ | 242.7 |
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 |
Proceeds from disposal of business, net of cash disposed |  | — |  | — |  | 19.5 |  | — |  | 19.5 |
Net investment in unconsolidated joint ventures |  | (5.2 | ) | (9.4 | ) | (48.7 | ) | — |  | (63.3 | )
Net payments for purchase of investments |  | — |  | — |  | (17.5 | ) | — |  | (17.5 | )
Payments for capital expenditures, net of disposals |  | (19.8 | ) | (34.2 | ) | (11.6 | ) | — |  | (65.6 | )
Net investment in intercompany notes |  | (85.4 | ) | (545.3 | ) | (73.8 | ) | 704.5 |  | — |
Other intercompany investing activities |  | 109.9 |  | 504.9 |  | — |  | (614.8 | ) | — |
Net cash used in investing activities |  | (0.5 | ) | (84.0 | ) | (122.3 | ) | 89.7 |  | (117.1 | )
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |  |  |  |  |  |  |
Proceeds from borrowings under credit agreements |  | 6,701.2 |  | — |  | 737.9 |  | — |  | 7,439.1 |
Repayments of borrowings under credit agreements |  | (6,509.5 | ) | (14.0 | ) | (131.4 | ) | — |  | (6,654.9 | )
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 |  | (10.7 | ) | — |  | — |  | — |  | (10.7 | )
Proceeds from issuance of common stock |  | 27.3 |  | — |  | — |  | — |  | 27.3 |
Proceeds from exercise of stock options |  | 3.2 |  | — |  | — |  | — |  | 3.2 |
Payments to repurchase common stock |  | (29.3 | ) | — |  | — |  | — |  | (29.3 | )
Net distributions to noncontrolling interests |  | — |  | — |  | (72.7 | ) | — |  | (72.7 | )
Other financing activities |  | 8.8 |  | (26.6 | ) | 26.5 |  | — |  | 8.7 |
Net borrowings (repayments) on intercompany notes |  | 673.3 |  | (4.8 | ) | 36.0 |  | (704.5 | ) | — |
Other intercompany financing activities |  | — |  | (80.0 | ) | (534.8 | ) | 614.8 |  | — |
Net cash provided by (used in) financing activities |  | 29.8 |  | (125.4 | ) | 61.5 |  | (89.7 | ) | (123.8 | )
EFFECT OF EXCHANGE RATE CHANGES ON CASH |  | — |  | — |  | (2.8 | ) | — |  | (2.8 | )
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS |  | (30.6 | ) | 47.9 |  | (18.3 | ) | — |  | (1.0 | )
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR |  | 32.6 |  | 254.9 |  | 514.9 |  | — |  | 802.4 |
CASH AND CASH EQUIVALENTS AT END OF YEAR |  | $ | 2.0 |  | $ | 302.8 |  | $ | 496.6 |  | $ | — |  | $ | 801.4 |
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 | ) | $ | 548.3 |  | $ | 20.1 |  | $ | — |  | $ | 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 |  | — |  | 0.3 |  | (11.1 | ) | — |  | (10.8 | )
Net proceeds from sale of investments |  | — |  | — |  | 0.7 |  | — |  | 0.7 |
Payments for capital expenditures, net of disposals |  | (17.8 | ) | (24.5 | ) | (16.2 | ) | — |  | (58.5 | )
Net investment in intercompany notes |  | (2.1 | ) | (16.0 | ) | (7.0 | ) | 25.1 |  | — |
Other intercompany investing activities |  | 118.4 |  | (68.4 | ) | — |  | (50.0 | ) | — |
Net cash provided by (used in) investing activities |  | 98.5 |  | (108.6 | ) | (33.1 | ) | (24.9 | ) | (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 | )
Proceeds from issuance of unsecured senior notes |  | 1,000.0 |  | — |  | — |  | — |  | 1,000.0 |
Redemption of unsecured senior notes |  | — |  | (179.2 | ) | — |  | — |  | (179.2 | )
Cash paid for debt 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 |  | — |  | (149.2 | ) | 99.2 |  | 50.0 |  | — |
Net cash provided by (used in) financing activities |  | 50.5 |  | (437.1 | ) | 104.9 |  | 24.9 |  | (256.8 | )
EFFECT OF EXCHANGE RATE CHANGES ON CASH |  | — |  | — |  | (0.2 | ) | — |  | (0.2 | )
NET INCREASE IN CASH AND CASH EQUIVALENTS |  | 26.0 |  | 2.6 |  | 91.7 |  | — |  | 120.3 |
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR |  | 1.8 |  | 196.3 |  | 494.0 |  | — |  | 692.1 |
CASH AND CASH EQUIVALENTS AT END OF YEAR |  | $ | 27.8 |  | $ | 198.9 |  | $ | 585.7 |  | $ | — |  | $ | 812.4 |

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