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Condensed Consolidating Financial Information (Tables) | 3 Months Ended
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Dec. 31, 2018
Condensed Consolidating Financial Information |
Schedule of Condensed Consolidating Balance Sheets | Condensed Consolidating Balance Sheets (unaudited - in millions) December 31, 2018
|  |  |  |  | Guarantor |  | Non-Guarantor |  |  |  |  |  |
|  | Parent |  | Subsidiaries |  | Subsidiaries |  | Eliminations |  | Total
ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CURRENT ASSETS: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total cash and cash equivalents |  | $ | 1.7 |  | $ | 315.0 |  | $ | 521.6 |  | $ | — |  |  | 838.3
Accounts receivable and contract assets—net |  |  | — |  |  | 2,580.0 |  |  | 2,965.6 |  |  | — |  |  | 5,545.6
Intercompany receivable |  |  | 954.6 |  |  | 119.5 |  |  | 153.2 |  |  | (1,227.3) |  |  | —
Prepaid expenses and other current assets |  |  | 91.1 |  |  | 327.6 |  |  | 262.7 |  |  | — |  |  | 681.4
Current assets held for sale |  |  | — |  |  | — |  |  | 58.7 |  |  | — |  |  | 58.7
Income taxes receivable |  |  | 83.4 |  |  | — |  |  | 42.3 |  |  | — |  |  | 125.7
TOTAL CURRENT ASSETS |  |  | 1,130.8 |  |  | 3,342.1 |  |  | 4,004.1 |  |  | (1,227.3) |  |  | 7,249.7
PROPERTY AND EQUIPMENT—NET |  |  | 206.0 |  |  | 208.3 |  |  | 186.7 |  |  | — |  |  | 601.0
DEFERRED TAX ASSETS—NET |  |  | 172.1 |  |  | 16.3 |  |  | 147.1 |  |  | (167.6) |  |  | 167.9
INVESTMENTS IN CONSOLIDATED SUBSIDIARIES |  |  | 6,658.6 |  |  | 1,993.7 |  |  | — |  |  | (8,652.3) |  |  | —
INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES |  |  | 6.6 |  |  | 49.3 |  |  | 285.1 |  |  | — |  |  | 341.0
GOODWILL |  |  | — |  |  | 3,392.7 |  |  | 2,500.8 |  |  | — |  |  | 5,893.5
INTANGIBLE ASSETS—NET |  |  | — |  |  | 207.0 |  |  | 89.7 |  |  | — |  |  | 296.7
OTHER NON-CURRENT ASSETS |  |  | 38.5 |  |  | 45.3 |  |  | 134.1 |  |  | — |  |  | 217.9
TOTAL ASSETS |  | $ | 8,212.6 |  | $ | 9,254.7 |  | $ | 7,347.6 |  | $ | (10,047.2) |  |  | 14,767.7
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CURRENT LIABILITIES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Short-term debt |  | $ | 16.1 |  | $ | — |  | $ | 30.0 |  | $ | — |  |  | 46.1
Accounts payable |  |  | 65.9 |  |  | 1,564.4 |  |  | 994.3 |  |  | — |  |  | 2,624.6
Accrued expenses and other current liabilities |  |  | 64.1 |  |  | 981.6 |  |  | 1,135.1 |  |  | — |  |  | 2,180.8
Income taxes payable |  |  | 19.7 |  |  | — |  |  | 28.4 |  |  | — |  |  | 48.1
Intercompany payable |  |  | 107.6 |  |  | 832.3 |  |  | 435.9 |  |  | (1,375.8) |  |  | —
Contract liabilities |  |  | — |  |  | 333.9 |  |  | 674.3 |  |  | — |  |  | 1,008.2
Current liabilities held for sale |  |  | — |  |  | — |  |  | 18.4 |  |  | — |  |  | 18.4
Current portion of long-term debt |  |  | 43.6 |  |  | 27.3 |  |  | 43.8 |  |  | — |  |  | 114.7
TOTAL CURRENT LIABILITIES |  |  | 317.0 |  |  | 3,739.5 |  |  | 3,360.2 |  |  | (1,375.8) |  |  | 6,040.9
OTHER LONG-TERM LIABILITIES |  |  | 118.1 |  |  | 247.9 |  |  | 346.5 |  |  | — |  |  | 712.5
DEFERRED TAX LIABILITY–NET |  |  | — |  |  | 63.0 |  |  | 108.9 |  |  | (167.5) |  |  | 4.4
NOTE PAYABLE INTERCOMPANY–NON CURRENT |  |  | 806.4 |  |  | — |  |  | 492.8 |  |  | (1,299.2) |  |  | —
LONG-TERM DEBT |  |  | 2,934.0 |  |  | 293.8 |  |  | 531.7 |  |  | — |  |  | 3,759.5
TOTAL LIABILITIES |  |  | 4,175.5 |  |  | 4,344.2 |  |  | 4,840.1 |  |  | (2,842.5) |  |  | 10,517.3
TOTAL AECOM STOCKHOLDERS’ EQUITY |  |  | 4,037.1 |  |  | 4,910.5 |  |  | 2,334.9 |  |  | (7,204.7) |  |  | 4,077.8
Noncontrolling interests |  |  | — |  |  | — |  |  | 172.6 |  |  | — |  |  | 172.6
TOTAL STOCKHOLDERS’ EQUITY |  |  | 4,037.1 |  |  | 4,910.5 |  |  | 2,507.5 |  |  | (7,204.7) |  |  | 4,250.4
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY |  | $ | 8,212.6 |  | $ | 9,254.7 |  | $ | 7,347.6 |  | $ | (10,047.2) |  | $ | 14,767.7
Condensed Consolidating Balance Sheets (in millions) September 30, 2018
|  |  |  |  | Guarantor |  | Non-Guarantor |  |  |  |  |  |
|  | Parent |  | Subsidiaries |  | Subsidiaries |  | Eliminations |  | Total
ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CURRENT ASSETS: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total cash and cash equivalents |  | $ | 22.0 |  | $ | 270.9 |  | $ | 593.8 |  | $ | — |  | $ | 886.7
Accounts receivable and contract assets—net |  |  | — |  |  | 2,544.7 |  |  | 2,924.1 |  |  | — |  |  | 5,468.8
Intercompany receivable |  |  | 951.1 |  |  | 84.9 |  |  | 157.9 |  |  | (1,193.9) |  |  | —
Prepaid expenses and other current assets |  |  | 52.9 |  |  | 331.6 |  |  | 200.7 |  |  | — |  |  | 585.2
Current assets held for sale |  |  | — |  |  | — |  |  | 59.8 |  |  | — |  |  | 59.8
Income taxes receivable |  |  | 84.6 |  |  | — |  |  | 42.2 |  |  | — |  |  | 126.8
TOTAL CURRENT ASSETS |  |  | 1,110.6 |  |  | 3,232.1 |  |  | 3,978.5 |  |  | (1,193.9) |  |  | 7,127.3
PROPERTY AND EQUIPMENT—NET |  |  | 202.6 |  |  | 217.3 |  |  | 194.2 |  |  | — |  |  | 614.1
DEFERRED TAX ASSETS—NET |  |  | 134.0 |  |  | — |  |  | 150.0 |  |  | (124.6) |  |  | 159.4
INVESTMENTS IN CONSOLIDATED SUBSIDIARIES |  |  | 6,364.1 |  |  | 1,912.0 |  |  | — |  |  | (8,276.1) |  |  | —
INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES |  |  | 13.4 |  |  | 49.6 |  |  | 247.7 |  |  | — |  |  | 310.7
GOODWILL |  |  | — |  |  | 3,392.7 |  |  | 2,528.4 |  |  | — |  |  | 5,921.1
INTANGIBLE ASSETS—NET |  |  | — |  |  | 218.6 |  |  | 101.3 |  |  | — |  |  | 319.9
OTHER NON-CURRENT ASSETS |  |  | 49.9 |  |  | 45.6 |  |  | 133.1 |  |  | — |  |  | 228.6
TOTAL ASSETS |  | $ | 7,874.6 |  | $ | 9,067.9 |  | $ | 7,333.2 |  | $ | (9,594.6) |  | $ | 14,681.1
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CURRENT LIABILITIES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Short-term debt |  | $ | 8.4 |  | $ | — |  | $ | — |  | $ | — |  | $ | 8.4
Accounts payable |  |  | 53.6 |  |  | 1,616.7 |  |  | 1,055.7 |  |  | — |  |  | 2,726.0
Accrued expenses and other current liabilities |  |  | 58.8 |  |  | 1,035.6 |  |  | 1,172.7 |  |  | — |  |  | 2,267.1
Income taxes payable |  |  | 10.4 |  |  | — |  |  | 29.4 |  |  | — |  |  | 39.8
Intercompany payable |  |  | 105.5 |  |  | 830.8 |  |  | 416.9 |  |  | (1,353.2) |  |  | —
Contract liabilities |  |  | 1.5 |  |  | 316.1 |  |  | 613.8 |  |  | — |  |  | 931.4
Current liabilities held for sale |  |  | — |  |  | — |  |  | 22.3 |  |  | — |  |  | 22.3
Current portion of long-term debt |  |  | 43.3 |  |  | 27.0 |  |  | 64.4 |  |  | — |  |  | 134.7
TOTAL CURRENT LIABILITIES |  |  | 281.5 |  |  | 3,826.2 |  |  | 3,375.2 |  |  | (1,353.2) |  |  | 6,129.7
OTHER LONG-TERM LIABILITIES |  |  | 131.6 |  |  | 249.0 |  |  | 361.5 |  |  | — |  |  | 742.1
DEFERRED TAX LIABILITY–NET |  |  | — |  |  | 63.1 |  |  | 108.9 |  |  | (124.7) |  |  | 47.3
NOTE PAYABLE INTERCOMPANY–NON CURRENT |  |  | 800.9 |  |  | — |  |  | 487.5 |  |  | (1,288.4) |  |  | —
LONG-TERM DEBT |  |  | 2,627.8 |  |  | 291.4 |  |  | 564.5 |  |  | — |  |  | 3,483.7
TOTAL LIABILITIES |  |  | 3,841.8 |  |  | 4,429.7 |  |  | 4,897.6 |  |  | (2,766.3) |  |  | 10,402.8
TOTAL AECOM STOCKHOLDERS’ EQUITY |  |  | 4,032.8 |  |  | 4,638.2 |  |  | 2,250.1 |  |  | (6,828.3) |  |  | 4,092.8
Noncontrolling interests |  |  | — |  |  | — |  |  | 185.5 |  |  | — |  |  | 185.5
TOTAL STOCKHOLDERS’ EQUITY |  |  | 4,032.8 |  |  | 4,638.2 |  |  | 2,435.6 |  |  | (6,828.3) |  |  | 4,278.3
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY |  | $ | 7,874.6 |  | $ | 9,067.9 |  | $ | 7,333.2 |  | $ | (9,594.6) |  | $ | 14,681.1
Schedule of Condensed Consolidating Statements of Operations | Condensed Consolidating Statements of Operations (unaudited - in millions)
|  | For the three months ended December 31, 2018
|  |  |  |  | Guarantor |  | Non-Guarantor |  |  |  |  |  |
|  | Parent |  | Subsidiaries |  | Subsidiaries |  | Eliminations |  | Total
Revenue |  | $ | — |  | $ | 2,703.6 |  | $ | 2,354.8 |  | $ | (20.9) |  | $ | 5,037.5
Cost of revenue |  |  | — |  |  | 2,601.4 |  |  | 2,286.4 |  |  | (20.9) |  |  | 4,866.9
Gross profit |  |  | — |  |  | 102.2 |  |  | 68.4 |  |  | — |  |  | 170.6
Equity in earnings from subsidiaries |  |  | 153.5 |  |  | (52.4) |  |  | — |  |  | (101.1) |  |  | —
Equity in earnings of joint ventures |  |  | — |  |  | 9.9 |  |  | 2.6 |  |  | — |  |  | 12.5
General and administrative expenses |  |  | (34.2) |  |  | — |  |  | (1.7) |  |  | — |  |  | (35.9)
Restructuring costs |  |  | (63.3) |  |  | — |  |  | — |  |  | — |  |  | (63.3)
Income from operations |  |  | 56.0 |  |  | 59.7 |  |  | 69.3 |  |  | (101.1) |  |  | 83.9
Other income |  |  | 1.2 |  |  | 11.9 |  |  | 3.8 |  |  | (13.3) |  |  | 3.6
Interest expense |  |  | (49.5) |  |  | (5.0) |  |  | (14.8) |  |  | 13.3 |  |  | (56.0)
Income before income tax (benefit) expense |  |  | 7.7 |  |  | 66.6 |  |  | 58.3 |  |  | (101.1) |  |  | 31.5
Income tax (benefit) expense |  |  | (43.7) |  |  | 5.8 |  |  | 4.3 |  |  | — |  |  | (33.6)
Net income |  |  | 51.4 |  |  | 60.8 |  |  | 54.0 |  |  | (101.1) |  |  | 65.1
Noncontrolling interests in income of consolidated subsidiaries, net of tax |  |  | — |  |  | — |  |  | (13.6) |  |  | — |  |  | (13.6)
Net income attributable to AECOM |  | $ | 51.4 |  | $ | 60.8 |  | $ | 40.4 |  | $ | (101.1) |  | $ | 51.5
|  | For the three months ended December 31, 2017
|  |  |  |  | Guarantor |  | Non-Guarantor |  |  |  |  |
|  | Parent |  | Subsidiaries |  | Subsidiaries |  | Eliminations |  | Total
Revenue |  | $ | — |  | $ | 2,721.3 |  | $ | 2,201.5 |  | $ | (12.0) |  | $ | 4,910.8
Cost of revenue |  |  | — |  |  | 2,607.8 |  |  | 2,178.8 |  |  | (12.0) |  |  | 4,774.6
Gross profit |  |  | — |  |  | 113.5 |  |  | 22.7 |  |  | — |  |  | 136.2
Equity in earnings from subsidiaries |  |  | 206.1 |  |  | 183.2 |  |  | — |  |  | (389.3) |  |  | —
Equity in earnings of joint ventures |  |  | — |  |  | 17.2 |  |  | 12.5 |  |  | — |  |  | 29.7
General and administrative expenses |  |  | (32.1) |  |  | — |  |  | (2.6) |  |  | — |  |  | (34.7)
Income from operations |  |  | 174.0 |  |  | 313.9 |  |  | 32.6 |  |  | (389.3) |  |  | 131.2
Other income |  |  | 0.2 |  |  | 5.4 |  |  | 2.7 |  |  | (6.0) |  |  | 2.3
Interest expense |  |  | (52.3) |  |  | (4.6) |  |  | (5.3) |  |  | 6.0 |  |  | (56.2)
Income before income tax expense (benefit) |  |  | 121.9 |  |  | 314.7 |  |  | 30.0 |  |  | (389.3) |  |  | 77.3
Income tax expense (benefit) |  |  | 10.6 |  |  | 112.5 |  |  | (170.2) |  |  | — |  |  | (47.1)
Net income |  |  | 111.3 |  |  | 202.2 |  |  | 200.2 |  |  | (389.3) |  |  | 124.4
Noncontrolling interest in income of consolidated subsidiaries, net of tax |  |  | — |  |  | — |  |  | (13.1) |  |  | — |  |  | (13.1)
Net income attributable to AECOM |  | $ | 111.3 |  | $ | 202.2 |  | $ | 187.1 |  | $ | (389.3) |  | $ | 111.3
Schedule of Consolidating Statements of Comprehensive Income | Consolidating Statements of Comprehensive Income (unaudited - in millions)
|  | For the three months ended December 31, 2018
|  |  |  |  | Guarantor |  | Non-Guarantor |  |  |  |  |  |
|  | Parent |  | Subsidiaries |  | Subsidiaries |  | Eliminations |  | Total
Net income |  | $ | 51.4 |  | $ | 60.8 |  | $ | 54.0 |  | $ | (101.1) |  | $ | 65.1
Other comprehensive loss, net of tax: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net unrealized loss on derivatives, net of tax |  |  | (2.4) |  |  | — |  |  | (3.9) |  |  | — |  |  | (6.3)
Foreign currency translation adjustments |  |  | — |  |  | — |  |  | (21.8) |  |  | — |  |  | (21.8)
Pension adjustments, net of tax |  |  | 0.7 |  |  | — |  |  | 4.6 |  |  | — |  |  | 5.3
Other comprehensive loss, net of tax |  |  | (1.7) |  |  | — |  |  | (21.1) |  |  | — |  |  | (22.8)
Comprehensive income , net of tax |  |  | 49.7 |  |  | 60.8 |  |  | 32.9 |  |  | (101.1) |  |  | 42.3
Noncontrolling interests in comprehensive income of consolidated subsidiaries, net of tax |  |  | — |  |  | — |  |  | (13.6) |  |  | — |  |  | (13.6)
Comprehensive income attributable to AECOM, net of tax |  | $ | 49.7 |  | $ | 60.8 |  | $ | 19.3 |  | $ | (101.1) |  | $ | 28.7
|  | For the three months ended December 31, 2017
|  |  |  |  | Guarantor |  | Non-Guarantor |  |  |  |  |  |
|  | Parent |  | Subsidiaries |  | Subsidiaries |  | Eliminations |  | Total
Net income |  | $ | 111.3 |  | $ | 202.2 |  | $ | 200.2 |  | $ | (389.3) |  | $ | 124.4
Other comprehensive income (loss), net of tax: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net unrealized gain on derivatives, net of tax |  |  | 0.7 |  |  | — |  |  | 0.1 |  |  | — |  |  | 0.8
Foreign currency translation adjustments |  |  | — |  |  | — |  |  | (6.0) |  |  | — |  |  | (6.0)
Pension adjustments, net of tax |  |  | 0.8 |  |  | — |  |  | 1.7 |  |  | — |  |  | 2.5
Other comprehensive income (loss), net of tax |  |  | 1.5 |  |  | — |  |  | (4.2) |  |  | — |  |  | (2.7)
Comprehensive income , net of tax |  |  | 112.8 |  |  | 202.2 |  |  | 196.0 |  |  | (389.3) |  |  | 121.7
Noncontrolling interests in comprehensive income of consolidated subsidiaries, net of tax |  |  | — |  |  | — |  |  | (13.9) |  |  | — |  |  | (13.9)
Comprehensive income attributable to AECOM, net of tax |  | $ | 112.8 |  | $ | 202.2 |  | $ | 182.1 |  | $ | (389.3) |  | $ | 107.8
Schedule on Condensed Consolidating Statements of Cash Flows | Condensed Consolidating Statements of Cash Flows (unaudited - in millions)
|  | For the three months ended December 31, 2018
|  |  |  |  |  | Non- |  |  |  |  |  |
|  |  |  | Guarantor |  | Guarantor |  |  |  |  |  |
|  | Parent |  | Subsidiaries |  | Subsidiaries |  | Eliminations |  | Total
CASH FLOWS FROM OPERATING ACTIVITIES |  | $ | (57.3) |  | $ | (22.2) |  | $ | (120.9) |  | $ | — |  | $ | (200.4)
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net investment in unconsolidated joint ventures |  |  | (0.9) |  |  | (6.8) |  |  | (30.7) |  |  | — |  |  | (38.4)
Net proceeds from sale of investments |  |  | — |  |  | — |  |  | 0.6 |  |  | — |  |  | 0.6
Payments for capital expenditures, net of disposals |  |  | (9.8) |  |  | (5.7) |  |  | (6.4) |  |  | — |  |  | (21.9)
Net receipts from (investment in) intercompany notes |  |  | 19.3 |  |  | 61.9 |  |  | (8.4) |  |  | (72.8) |  |  | —
Other intercompany investing activities |  |  | (227.2) |  |  | (287.2) |  |  | — |  |  | 514.4 |  |  | —
Net cash used in investing activities |  |  | (218.6) |  |  | (237.8) |  |  | (44.9) |  |  | 441.6 |  |  | (59.7)
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from borrowings under credit agreements |  |  | 2,254.8 |  |  | — |  |  | 35.6 |  |  | — |  |  | 2,290.4
Repayments of borrowings under credit agreements |  |  | (1,959.7) |  |  | (4.7) |  |  | (34.7) |  |  | — |  |  | (1,999.1)
Proceeds from issuance of common stock |  |  | 5.4 |  |  | — |  |  | — |  |  | — |  |  | 5.4
Payments to repurchase common stock |  |  | (52.3) |  |  | — |  |  | — |  |  | — |  |  | (52.3)
Net distributions to noncontrolling interests |  |  | — |  |  | — |  |  | (28.8) |  |  | — |  |  | (28.8)
Other financing activities |  |  | 1.4 |  |  | (9.1) |  |  | 5.3 |  |  | — |  |  | (2.4)
Net (repayments) borrowings on intercompany notes |  |  | 6.0 |  |  | 7.9 |  |  | (86.7) |  |  | 72.8 |  |  | —
Other intercompany financing activities |  |  | — |  |  | 310.0 |  |  | 204.4 |  |  | (514.4) |  |  | —
Net cash provided by financing activities |  |  | 255.6 |  |  | 304.1 |  |  | 95.1 |  |  | (441.6) |  |  | 213.2
EFFECT OF EXCHANGE RATE CHANGES ON CASH |  |  | — |  |  | — |  |  | (1.5) |  |  | — |  |  | (1.5)
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS |  |  | (20.3) |  |  | 44.1 |  |  | (72.2) |  |  | — |  |  | (48.4)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR |  |  | 22.0 |  |  | 270.9 |  |  | 593.8 |  |  | — |  |  | 886.7
CASH AND CASH EQUIVALENTS AT END OF YEAR |  | $ | 1.7 |  | $ | 315.0 |  | $ | 521.6 |  | $ | — |  | $ | 838.3
Condensed Consolidating Statements of Cash Flows (unaudited - in millions)
|  | For the three months ended December 31, 2017
|  |  |  |  |  | Non- |  |  |  |  |  |
|  |  |  | Guarantor |  | Guarantor |  |  |  |  |  |
|  | Parent |  | Subsidiaries |  | Subsidiaries |  | Eliminations |  | Total
CASH FLOWS FROM OPERATING ACTIVITIES |  | $ | (62.8) |  | $ | 28.1 |  | $ | 87.1 |  | $ | — |  | $ | 52.4
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 |  |  | — |  |  | (3.6) |  |  | (15.4) |  |  | — |  |  | (19.0)
Proceeds from sale of investments |  |  | — |  |  | — |  |  | 0.2 |  |  | — |  |  | 0.2
Payments for capital expenditures, net of disposals |  |  | 3.4 |  |  | (17.5) |  |  | (4.4) |  |  | — |  |  | (18.5)
Net receipts from (investment in) intercompany notes |  |  | 0.6 |  |  | (5.1) |  |  | 28.8 |  |  | (24.3) |  |  | —
Other intercompany investing activities |  |  | (5.8) |  |  | 67.2 |  |  | — |  |  | (61.4) |  |  | —
Net cash (used in) provided by investing activities |  |  | (1.8) |  |  | 41.0 |  |  | 19.0 |  |  | (85.7) |  |  | (27.5)
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from borrowings under credit agreements |  |  | 1,240.8 |  |  | — |  |  | 35.7 |  |  | — |  |  | 1,276.5
Repayments of borrowings under credit agreements |  |  | (1,187.4) |  |  | (4.7) |  |  | (44.1) |  |  | — |  |  | (1,236.2)
Proceeds from issuance of common stock |  |  | 9.5 |  |  | — |  |  | — |  |  | — |  |  | 9.5
Proceeds from exercise of stock options |  |  | 2.7 |  |  | — |  |  | — |  |  | — |  |  | 2.7
Payments to repurchase common stock |  |  | (26.7) |  |  | — |  |  | — |  |  | — |  |  | (26.7)
Net distributions to noncontrolling interests |  |  | — |  |  | — |  |  | (16.8) |  |  | — |  |  | (16.8)
Other financing activities |  |  | 0.9 |  |  | (36.8) |  |  | 9.9 |  |  | — |  |  | (26.0)
Net (repayments) borrowings on intercompany notes |  |  | (3.7) |  |  | (25.1) |  |  | 4.5 |  |  | 24.3 |  |  | —
Other intercompany financing activities |  |  | — |  |  | (34.7) |  |  | (26.7) |  |  | 61.4 |  |  | —
Net cash provided by (used in) financing activities |  |  | 36.1 |  |  | (101.3) |  |  | (37.5) |  |  | 85.7 |  |  | (17.0)
EFFECT OF EXCHANGE RATE CHANGES ON CASH |  |  | — |  |  | — |  |  | 2.9 |  |  | — |  |  | 2.9
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS |  |  | (28.5) |  |  | (32.2) |  |  | 71.5 |  |  | — |  |  | 10.8
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR |  |  | 32.6 |  |  | 254.9 |  |  | 514.9 |  |  | — |  |  | 802.4
CASH AND CASH EQUIVALENTS AT END OF YEAR |  | $ | 4.1 |  | $ | 222.7 |  | $ | 586.4 |  | $ | — |  | $ | 813.2

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