Condensed Consolidating Financial Information

Schedule of Condensed Consolidating Statements of Operations

Condensed Consolidating Statements of Operations

(in millions)


	For the Fiscal Year Ended September 30, 2019
			Guarantor		Non-Guarantor
	Parent		Subsidiaries		Subsidiaries		Eliminations		Total
Revenue	$	—	$	10,978.7	$	9,282.4	$	(87.8)	$	20,173.3
Cost of revenue		—		10,594.7		8,853.0		(87.8)		19,359.9
Gross profit		—		384.0		429.4		—		813.4
Equity in earnings from subsidiaries		82.0		(54.4)		—		(27.6)		—
Equity in earnings of joint ventures		—		3.6		77.4		—		81.0
General and administrative expenses		(143.3)		—		(4.8)		—		(148.1)
Restructuring costs		(95.4)		—		—		—		(95.4)
Loss on disposal activities		(6.6)		—		(3.8)		—		(10.4)
Impairment of long-lived assets, including goodwill		(9.6)		(200.2)		(405.6)		—		(615.4)
(Loss) income from operations		(172.9)		133.0		92.6		(27.6)		25.1
Other income		5.0		48.4		20.4		(57.0)		16.8
Interest expense		(202.8)		(22.0)		(58.2)		57.0		(226.0)
(Loss) income before income tax (benefit) expense		(370.7)		159.4		54.8		(27.6)		(184.1)
Income tax (benefit) expense		(109.6)		92.1		17.4		—		(0.1)
Net (loss) income		(261.1)		67.3		37.4		(27.6)		(184.0)
Noncontrolling interests in income of consolidated subsidiaries, net of tax		—		—		(77.1)		—		(77.1)
Net (loss) income attributable to AECOM	$	(261.1)	$	67.3	$	(39.7)	$	(27.6)	$	(261.1)


	For the Fiscal Year Ended September 30, 2018
			Guarantor		Non-Guarantor
	Parent		Subsidiaries		Subsidiaries		Eliminations		Total
Revenue	$	—	$	11,052.9	$	9,212.9	$	(110.3)	$	20,155.5
Cost of revenue		—		10,757.2		8,858.0		(110.3)		19,504.9
Gross profit		—		295.7		354.9		—		650.6
Equity in earnings from subsidiaries		460.9		207.2		—		(668.1)		—
Equity in earnings of joint ventures		—		37.2		43.9		—		81.1
General and administrative expenses		(124.4)		—		(11.3)		—		(135.7)
Impairment on assets held for sale, including goodwill		—		—		(168.2)		—		(168.2)
Loss on disposal activities		—		—		(2.9)		—		(2.9)
Income from operations		336.5		540.1		216.4		(668.1)		424.9
Other income		12.0		34.5		12.7		(39.1)		20.1
Interest expense		(242.9)		(25.1)		(38.6)		39.1		(267.5)
Income before income tax (benefit) expense		105.6		549.5		190.5		(668.1)		177.5
Income tax (benefit) expense		(31.1)		98.8		(87.4)		—		(19.7)
Net income		136.7		450.7		277.9		(668.1)		197.2
Noncontrolling interests in income of consolidated subsidiaries, net of tax		—		—		(60.7)		—		(60.7)
Net income attributable to AECOM	$	136.7	$	450.7	$	217.2	$	(668.1)	$	136.5

Condensed Consolidating Statements of Operations

(in millions)


	For the Fiscal Year Ended September 30, 2017
			Guarantor		Non-Guarantor
	Parent		Subsidiaries		Subsidiaries		Eliminations		Total
Revenue	$	—	$	10,491.6	$	7,764.1	$	(52.3)	$	18,203.4
Cost of revenue		—		10,136.1		7,435.9		(52.3)		17,519.7
Gross profit		—		355.5		328.2		—		683.7
Equity in earnings from subsidiaries		439.3		222.4		—		(661.7)		—
Equity in earnings of joint ventures		—		43.8		97.8		—		141.6
General and administrative expenses		(124.7)		—		(8.7)		—		(133.4)
Acquisition and integration expenses		(38.7)		—		—		—		(38.7)
Gain on disposal activities		—		—		0.6		—		0.6
Income from operations		275.9		621.7		417.9		(661.7)		653.8
Other income		2.1		31.9		9.2		(36.5)		6.7
Interest expense		(203.7)		(31.1)		(33.0)		36.5		(231.3)
Income before income tax (benefit) expense		74.3		622.5		394.1		(661.7)		429.2
Income tax (benefit) expense		(264.9)		182.5		58.4		31.7		7.7
Net income		339.2		440.0		335.7		(693.4)		421.5
Noncontrolling interests in income of consolidated subsidiaries, net of tax		—		—		(82.1)		—		(82.1)
Net income attributable to AECOM	$	339.2	$	440.0	$	253.6	$	(693.4)	$	339.4

Schedule on Condensed Consolidating Statements of Cash Flows

Condensed Consolidating Statements of Cash Flows

(in millions)


	For the Fiscal Year Ended September 30, 2019
			Guarantor		Non-Guarantor
	Parent		Subsidiaries		Subsidiaries		Eliminations		Total
CASH FLOWS FROM OPERATING ACTIVITIES	$	(16.7)	$	572.7	$	221.6	$	—	$	777.6
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from disposal of business, net of cash disposed		11.7		(3.0)		37.8		—		46.5
Net investment in unconsolidated joint ventures		(4.2)		(25.8)		(89.0)		—		(119.0)
Net proceeds from sale of investment securities		—		—		9.1		—		9.1
Payments for capital expenditures, net of disposals		(32.9)		(24.3)		(26.2)		—		(83.4)
Net receipts from (investment in) intercompany notes		54.9		(52.4)		(29.7)		27.2		—
Other intercompany investing activities		291.9		211.0		—		(502.9)		—
Net cash provided by (used in) investing activities		321.4		105.5		(98.0)		(475.7)		(146.8)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from borrowings under credit agreements		7,524.0		—		176.8		—		7,700.8
Repayments of borrowings under credit agreements		(7,734.1)		(28.6)		(221.9)		—		(7,984.6)
Proceeds from issuance of common stock		30.4		—		—		—		30.4
Payments to repurchase common stock		(98.2)		—		—		—		(98.2)
Net distributions to noncontrolling interests		—		—		(70.0)		—		(70.0)
Other financing activities		4.8		(0.8)		(15.7)		—		(11.7)
Net borrowings (repayments) on intercompany notes		75.7		26.4		(74.9)		(27.2)		—
Other intercompany financing activities		—		(630.5)		127.6		502.9		—
Net cash used in financing activities		(197.4)		(633.5)		(78.1)		475.7		(433.3)
EFFECT OF EXCHANGE RATE CHANGES ON CASH		—		—		(3.8)		—		(3.8)
NET INCREASE IN CASH AND CASH EQUIVALENTS		107.3		44.7		41.7		—		193.7
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR		22.0		270.9		593.8		—		886.7
CASH AND CASH EQUIVALENTS AT END OF YEAR	$	129.3	$	315.6	$	635.5	$	—	$	1,080.4


	For the Fiscal Year Ended September 30, 2018
			Guarantor		Non-Guarantor
	Parent		Subsidiaries		Subsidiaries		Eliminations		Total
CASH FLOWS FROM OPERATING ACTIVITIES	$	(205.5)	$	640.9	$	339.1	$	—	$	774.5
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		(6.1)		(9.1)		30.0		—		14.8
Net purchases of investments		—		—		(16.3)		—		(16.3)
Payments for capital expenditures, net of disposals		(29.3)		(39.1)		(18.5)		—		(86.9)
Net investment in intercompany notes		(54.3)		(778.8)		(5.6)		838.7		—
Other intercompany investing activities		528.2		1,022.1		—		(1,550.3)		—
Net cash provided by investing activities		438.5		195.1		18.9		(711.6)		(59.1)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from borrowings under credit agreements		7,770.4		0.2		758.4		—		8,529.0
Repayments of borrowings under credit agreements		(7,820.0)		(18.0)		(202.2)		—		(8,040.2)
Redemption of unsecured senior notes		(800.0)		—		—		—		(800.0)
Prepayment penalty on unsecured senior notes		(34.5)		—		—		—		(34.5)
Cash paid for debt issuance costs		(12.2)		—		—		—		(12.2)
Proceeds from issuance of common stock		35.2		—		—		—		35.2
Proceeds from exercise of stock options		2.8		—		—		—		2.8
Payments to repurchase common stock		(179.5)		—		—		—		(179.5)
Net distributions to noncontrolling interests		—		—		(89.8)		—		(89.8)
Other financing activities		(3.6)		(22.4)		(9.7)		—		(35.7)
Net borrowings on intercompany notes		797.8		5.9		35.0		(838.7)		—
Other intercompany financing activities		—		(785.7)		(764.6)		1,550.3		—
Net cash used in financing activities		(243.6)		(820.0)		(272.9)		711.6		(624.9)
EFFECT OF EXCHANGE RATE CHANGES ON CASH		—		—		(6.2)		—		(6.2)
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS		(10.6)		16.0		78.9		—		84.3
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR		32.6		254.9		514.9		—		802.4
CASH AND CASH EQUIVALENTS AT END OF YEAR	$	22.0	$	270.9	$	593.8	$	—	$	886.7

Condensed Consolidating Statements of Cash Flows

(in millions)


	For the Fiscal Year Ended September 30, 2017
			Guarantor		Non-Guarantor
	Parent		Subsidiaries		Subsidiaries		Eliminations		Total
CASH FLOWS FROM OPERATING ACTIVITIES	$	(5.9)	$	695.0	$	7.6	$	—	$	696.7
CASH FLOWS FROM INVESTING ACTIVITIES:
Payments for business acquisitions, net of cash acquired		—		—		(103.1)		—		(103.1)
Proceeds from disposal of business, net of cash disposed		—		—		2.2		—		2.2
Net investment in unconsolidated joint ventures		—		(2.7)		(21.6)		—		(24.3)
Net purchases of investments		—		—		0.9		—		0.9
Payments for capital expenditures, net of disposals		(21.7)		(30.6)		(26.1)		—		(78.4)
Net (investment in) receipts from intercompany notes		(4.6)		102.8		12.2		(110.4)		—
Other intercompany investing activities		139.0		(233.2)		—		94.2		—
Net cash provided by (used in) investing activities		112.7		(163.7)		(135.5)		(16.2)		(202.7)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from borrowings under credit agreements		5,903.5		13.1		36.6		—		5,953.2
Repayments of borrowings under credit agreements		(6,956.3)		(51.1)		(64.2)		—		(7,071.6)
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		(13.0)		—		—		—		(13.0)
Proceeds from issuance of common stock		30.1		—		—		—		30.1
Proceeds from exercise of stock options		4.9		—		—		—		4.9
Payments to repurchase common stock		(25.1)		—		—		—		(25.1)
Net distributions to noncontrolling interests		—		—		(59.0)		—		(59.0)
Other financing activities		(24.1)		(38.3)		35.6		—		(26.8)
Net borrowings (repayments) on intercompany notes		4.0		(16.3)		(98.1)		110.4		—
Other intercompany financing activities		—		(200.9)		295.1		(94.2)		—
Net cash provided by (used in) financing activities		(76.0)		(472.7)		146.0		16.2		(386.5)
EFFECT OF EXCHANGE RATE CHANGES ON CASH		—		—		2.8		—		2.8
NET INCREASE IN CASH AND CASH EQUIVALENTS		30.8		58.6		20.9		—		110.3
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR		1.8		196.3		494.0		—		692.1
CASH AND CASH EQUIVALENTS AT END OF YEAR	$	32.6	$	254.9	$	514.9	$	—	$	802.4