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v3.19.1

Condensed Consolidating Financial Information (Tables) | 6 Months Ended
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Mar. 31, 2019
Condensed Consolidating Financial Information |
Schedule of Condensed Consolidating Balance Sheets | Condensed Consolidating Balance Sheets (unaudited - in millions) March 31, 2019
|  |  |  |  | Guarantor |  | Non-Guarantor |  |  |  |  |  |
|  | Parent |  | Subsidiaries |  | Subsidiaries |  | Eliminations |  | Total
ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CURRENT ASSETS: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total cash and cash equivalents |  | $ | 1.6 |  | $ | 283.9 |  | $ | 541.4 |  | $ | — |  | $ | 826.9
Accounts receivable and contract assets—net |  |  | — |  |  | 2,653.6 |  |  | 3,059.2 |  |  | — |  |  | 5,712.8
Intercompany receivable |  |  | 1,006.8 |  |  | 119.9 |  |  | 185.8 |  |  | (1,312.5) |  |  | —
Prepaid expenses and other current assets |  |  | 71.0 |  |  | 260.2 |  |  | 261.0 |  |  | — |  |  | 592.2
Current assets held for sale |  |  | — |  |  | — |  |  | 55.0 |  |  | — |  |  | 55.0
Income taxes receivable |  |  | 11.5 |  |  | — |  |  | 42.2 |  |  | — |  |  | 53.7
TOTAL CURRENT ASSETS |  |  | 1,090.9 |  |  | 3,317.6 |  |  | 4,144.6 |  |  | (1,312.5) |  |  | 7,240.6
PROPERTY AND EQUIPMENT—NET |  |  | 203.6 |  |  | 202.9 |  |  | 189.9 |  |  | — |  |  | 596.4
DEFERRED TAX ASSETS—NET |  |  | 172.1 |  |  | 8.0 |  |  | 147.2 |  |  | (163.6) |  |  | 163.7
INVESTMENTS IN CONSOLIDATED SUBSIDIARIES |  |  | 6,703.7 |  |  | 2,050.3 |  |  | — |  |  | (8,754.0) |  |  | —
INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES |  |  | 7.6 |  |  | 39.3 |  |  | 291.5 |  |  | — |  |  | 338.4
GOODWILL |  |  | — |  |  | 3,392.7 |  |  | 2,515.5 |  |  | — |  |  | 5,908.2
INTANGIBLE ASSETS—NET |  |  | — |  |  | 195.4 |  |  | 81.8 |  |  | — |  |  | 277.2
OTHER NON-CURRENT ASSETS |  |  | 35.5 |  |  | 44.8 |  |  | 132.2 |  |  | — |  |  | 212.5
TOTAL ASSETS |  | $ | 8,213.4 |  | $ | 9,251.0 |  | $ | 7,502.7 |  | $ | (10,230.1) |  | $ | 14,737.0
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CURRENT LIABILITIES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Short-term debt |  | $ | 18.4 |  | $ | — |  | $ | 30.0 |  | $ | — |  | $ | 48.4
Accounts payable |  |  | 31.1 |  |  | 1,597.1 |  |  | 953.2 |  |  | — |  |  | 2,581.4
Accrued expenses and other current liabilities |  |  | 62.5 |  |  | 920.6 |  |  | 1,152.0 |  |  | — |  |  | 2,135.1
Income taxes payable |  |  | 15.2 |  |  | — |  |  | 21.1 |  |  | — |  |  | 36.3
Intercompany payable |  |  | 111.1 |  |  | 868.1 |  |  | 553.0 |  |  | (1,532.2) |  |  | —
Contract liabilities |  |  | — |  |  | 313.8 |  |  | 648.3 |  |  | — |  |  | 962.1
Current liabilities held for sale |  |  | — |  |  | — |  |  | 17.0 |  |  | — |  |  | 17.0
Current portion of long-term debt |  |  | 43.5 |  |  | 14.6 |  |  | 51.8 |  |  | — |  |  | 109.9
TOTAL CURRENT LIABILITIES |  |  | 281.8 |  |  | 3,714.2 |  |  | 3,426.4 |  |  | (1,532.2) |  |  | 5,890.2
OTHER LONG-TERM LIABILITIES |  |  | 118.6 |  |  | 242.8 |  |  | 348.6 |  |  | — |  |  | 710.0
DEFERRED TAX LIABILITY–NET |  |  | — |  |  | 63.0 |  |  | 108.9 |  |  | (163.6) |  |  | 8.3
NOTE PAYABLE INTERCOMPANY–NON CURRENT |  |  | 811.7 |  |  | — |  |  | 498.6 |  |  | (1,310.3) |  |  | —
LONG-TERM DEBT |  |  | 2,902.4 |  |  | 292.2 |  |  | 539.0 |  |  | — |  |  | 3,733.6
TOTAL LIABILITIES |  |  | 4,114.5 |  |  | 4,312.2 |  |  | 4,921.5 |  |  | (3,006.1) |  |  | 10,342.1
TOTAL AECOM STOCKHOLDERS’ EQUITY |  |  | 4,098.9 |  |  | 4,938.8 |  |  | 2,386.3 |  |  | (7,224.0) |  |  | 4,200.0
Noncontrolling interests |  |  | — |  |  | — |  |  | 194.9 |  |  | — |  |  | 194.9
TOTAL STOCKHOLDERS’ EQUITY |  |  | 4,098.9 |  |  | 4,938.8 |  |  | 2,581.2 |  |  | (7,224.0) |  |  | 4,394.9
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY |  | $ | 8,213.4 |  | $ | 9,251.0 |  | $ | 7,502.7 |  | $ | (10,230.1) |  | $ | 14,737.0
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 March 31, 2019
|  |  |  |  | Guarantor |  | Non-Guarantor |  |  |  |  |  |
|  | Parent |  | Subsidiaries |  | Subsidiaries |  | Eliminations |  | Total
Revenue |  | $ | — |  | $ | 2,724.1 |  | $ | 2,342.1 |  | $ | (26.2) |  | $ | 5,040.0
Cost of revenue |  |  | — |  |  | 2,604.6 |  |  | 2,266.2 |  |  | (26.2) |  |  | 4,844.6
Gross profit |  |  | — |  |  | 119.5 |  |  | 75.9 |  |  | — |  |  | 195.4
Equity in earnings from subsidiaries |  |  | 162.3 |  |  | 150.5 |  |  | — |  |  | (312.8) |  |  | —
Equity in earnings of joint ventures |  |  | — |  |  | (7.6) |  |  | 33.5 |  |  | — |  |  | 25.9
General and administrative expenses |  |  | (35.7) |  |  | — |  |  | (1.7) |  |  | — |  |  | (37.4)
Restructuring costs |  |  | (15.9) |  |  | — |  |  | — |  |  | — |  |  | (15.9)
Income from operations |  |  | 110.7 |  |  | 262.4 |  |  | 107.7 |  |  | (312.8) |  |  | 168.0
Other income |  |  | 1.1 |  |  | 12.5 |  |  | 5.1 |  |  | (14.4) |  |  | 4.3
Interest expense |  |  | (52.3) |  |  | (5.6) |  |  | (14.4) |  |  | 14.4 |  |  | (57.9)
Income before income tax (benefit) expense |  |  | 59.5 |  |  | 269.3 |  |  | 98.4 |  |  | (312.8) |  |  | 114.4
Income tax (benefit) expense |  |  | (18.5) |  |  | 23.3 |  |  | 16.1 |  |  | — |  |  | 20.9
Net income |  |  | 78.0 |  |  | 246.0 |  |  | 82.3 |  |  | (312.8) |  |  | 93.5
Noncontrolling interests in income of consolidated subsidiaries, net of tax |  |  | — |  |  | — |  |  | (15.6) |  |  | — |  |  | (15.6)
Net income attributable to AECOM |  | $ | 78.0 |  | $ | 246.0 |  | $ | 66.7 |  | $ | (312.8) |  | $ | 77.9
|  | For the three months ended March 31, 2018
|  |  |  |  | Guarantor |  | Non-Guarantor |  |  |  |  |
|  | Parent |  | Subsidiaries |  | 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)
Condensed Consolidating Statements of Operations (unaudited - in millions)
|  | For the six months ended March 31, 2019
|  |  |  | Guarantor |  | Non-Guarantor |  |  |  |  |  |
|  | Parent |  | Subsidiaries |  | Subsidiaries |  | Eliminations | Total
Revenue |  | $ | — |  | $ | 5,427.7 |  | $ | 4,696.9 |  | $ | (47.1) |  | $ | 10,077.5
Cost of revenue |  |  | — |  |  | 5,206.0 |  |  | 4,552.6 |  |  | (47.1) |  |  | 9,711.5
Gross profit |  |  | — |  |  | 221.7 |  |  | 144.3 |  |  | — |  |  | 366.0
Equity in earnings from subsidiaries |  |  | 315.8 |  |  | 98.1 |  |  | — |  |  | (413.9) |  |  | —
Equity in earnings of joint ventures |  |  | — |  |  | 2.3 |  |  | 36.1 |  |  | — |  |  | 38.4
General and administrative expenses |  |  | (69.9) |  |  | — |  |  | (3.4) |  |  | — |  |  | (73.3)
Restructuring costs |  |  | (79.2) |  |  | — |  |  | — |  |  | — |  |  | (79.2)
Income from operations |  |  | 166.7 |  |  | 322.1 |  |  | 177.0 |  |  | (413.9) |  |  | 251.9
Other income |  |  | 2.3 |  |  | 24.4 |  |  | 8.9 |  |  | (27.7) |  |  | 7.9
Interest expense |  |  | (101.8) |  |  | (10.6) |  |  | (29.2) |  |  | 27.7 |  |  | (113.9)
Income before income tax (benefit) expense |  |  | 67.2 |  |  | 335.9 |  |  | 156.7 |  |  | (413.9) |  |  | 145.9
Income tax (benefit) expense |  |  | (62.2) |  |  | 29.1 |  |  | 20.4 |  |  | — |  |  | (12.7)
Net income |  |  | 129.4 |  |  | 306.8 |  |  | 136.3 |  |  | (413.9) |  |  | 158.6
Noncontrolling interests in income of consolidated subsidiaries, net of tax |  |  | — |  |  | — |  |  | (29.2) |  |  | — |  |  | (29.2)
Net income attributable to AECOM |  | $ | 129.4 |  | $ | 306.8 |  | $ | 107.1 |  | $ | (413.9) |  | $ | 129.4
|  | For the six months ended March 31, 2018
|  |  |  |  | Guarantor |  | Non-Guarantor |  |  |  |  |  |
|  | Parent |  | Subsidiaries |  | 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)
Schedule of Consolidating Statements of Comprehensive Income | Consolidating Statements of Comprehensive Income (Loss) (unaudited - in millions)
|  | For the three months ended March 31, 2019
|  |  |  |  | Guarantor |  | Non-Guarantor |  |  |  |  |  |
|  | Parent |  | Subsidiaries |  | Subsidiaries |  | Eliminations |  | Total
Net income |  | $ | 78.0 |  | $ | 246.0 |  | $ | 82.3 |  | $ | (312.8) |  | $ | 93.5
Other comprehensive (loss) income, net of tax: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net unrealized loss on derivatives, net of tax |  |  | (1.7) |  |  | — |  |  | (2.4) |  |  | — |  |  | (4.1)
Foreign currency translation adjustments |  |  | — |  |  | — |  |  | 22.8 |  |  | — |  |  | 22.8
Pension adjustments, net of tax |  |  | 0.7 |  |  | (1.2) |  |  | (2.9) |  |  | — |  |  | (3.4)
Other comprehensive (loss) income, net of tax |  |  | (1.0) |  |  | (1.2) |  |  | 17.5 |  |  | — |  |  | 15.3
Comprehensive income, net of tax |  |  | 77.0 |  |  | 244.8 |  |  | 99.8 |  |  | (312.8) |  |  | 108.8
Noncontrolling interests in comprehensive income of consolidated subsidiaries, net of tax |  |  | — |  |  | — |  |  | (15.8) |  |  | — |  |  | (15.8)
Comprehensive income attributable to AECOM, net of tax |  | $ | 77.0 |  | $ | 244.8 |  | $ | 84.0 |  | $ | (312.8) |  | $ | 93.0
|  | For the three months ended March 31, 2018
|  |  |  |  | Guarantor |  | Non-Guarantor |  |  |  |  |  |
|  | Parent |  | Subsidiaries |  | 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)
Consolidating Statements of Comprehensive Income (Loss) (unaudited - in millions)
|  | For the six months ended March 31, 2019
|  |  |  | Guarantor |  | Non-Guarantor |  |  |  |  |  |
|  | Parent |  | Subsidiaries |  | Subsidiaries |  | Eliminations | Total
Net income |  | $ | 129.4 |  | $ | 306.8 |  | $ | 136.3 |  | $ | (413.9) |  | $ | 158.6
Other comprehensive loss, net of tax: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net unrealized loss on derivatives, net of tax |  |  | (4.1) |  |  | — |  |  | (6.3) |  |  | — |  |  | (10.4)
Foreign currency translation adjustments |  |  | — |  |  | — |  |  | 1.0 |  |  | — |  |  | 1.0
Pension adjustments, net of tax |  |  | 1.4 |  |  | (1.2) |  |  | 1.7 |  |  | — |  |  | 1.9
Other comprehensive loss, net of tax |  |  | (2.7) |  |  | (1.2) |  |  | (3.6) |  |  | — |  |  | (7.5)
Comprehensive income, net of tax |  |  | 126.7 |  |  | 305.6 |  |  | 132.7 |  |  | (413.9) |  |  | 151.1
Noncontrolling interests in comprehensive income of consolidated subsidiaries, net of tax |  |  | — |  |  | — |  |  | (29.4) |  |  | — |  |  | (29.4)
Comprehensive income attributable to AECOM, net of tax |  | $ | 126.7 |  | $ | 305.6 |  | $ | 103.3 |  | $ | (413.9) |  | $ | 121.7
|  | For the six months ended March 31, 2018
|  |  |  |  | Guarantor |  | Non-Guarantor |  |  |  |  |  |
|  | Parent |  | Subsidiaries |  | Subsidiaries |  | Eliminations |  | Total
Net (loss) income |  | $ | (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) income attributable to AECOM, net of tax |  | $ | (6.3) |  | $ | 187.5 |  | $ | 54.9 |  | $ | (250.9) |  | $ | (14.8)
Schedule on Condensed Consolidating Statements of Cash Flows | Condensed Consolidating Statements of Cash Flows (unaudited - in millions)
|  | For the six months ended March 31, 2019
|  |  |  |  |  | Non- |  |  |  |  |  |
|  |  |  | Guarantor |  | Guarantor |  |  |  |  |  |
|  | Parent |  | Subsidiaries |  | Subsidiaries |  | Eliminations |  | Total
CASH FLOWS FROM OPERATING ACTIVITIES |  | $ | (47.1) |  | $ | 120.3 |  | $ | (166.1) |  | $ | — |  | $ | (92.9)
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net investment in unconsolidated joint ventures |  |  | (1.9) |  |  | (9.3) |  |  | (52.1) |  |  | — |  |  | (63.3)
Net proceeds from sale of investment securities |  |  | — |  |  | — |  |  | 2.4 |  |  | — |  |  | 2.4
Payments for capital expenditures, net of disposals |  |  | (20.5) |  |  | (11.3) |  |  | (12.6) |  |  | — |  |  | (44.4)
Net investment in intercompany notes |  |  | (40.8) |  |  | (22.0) |  |  | (19.3) |  |  | 82.1 |  |  | —
Other intercompany investing activities |  |  | (131.9) |  |  | (62.5) |  |  | — |  |  | 194.4 |  |  | —
Net cash used in investing activities |  |  | (195.1) |  |  | (105.1) |  |  | (81.6) |  |  | 276.5 |  |  | (105.3)
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from borrowings under credit agreements |  |  | 4,426.4 |  |  | — |  |  | 77.8 |  |  | — |  |  | 4,504.2
Repayments of borrowings under credit agreements |  |  | (4,167.2) |  |  | (21.2) |  |  | (80.7) |  |  | — |  |  | (4,269.1)
Cash paid for debt and equity issuance costs |  |  | (0.1) |  |  | — |  |  | — |  |  | — |  |  | (0.1)
Proceeds from issuance of common stock |  |  | 14.5 |  |  | — |  |  | — |  |  | — |  |  | 14.5
Payments to repurchase common stock |  |  | (82.6) |  |  | — |  |  | — |  |  | — |  |  | (82.6)
Net distributions to noncontrolling interests |  |  | — |  |  | — |  |  | (36.0) |  |  | — |  |  | (36.0)
Other financing activities |  |  | 19.4 |  |  | (19.1) |  |  | 7.4 |  |  | — |  |  | 7.7
Net borrowings on intercompany notes |  |  | 11.4 |  |  | 19.5 |  |  | 51.2 |  |  | (82.1) |  |  | —
Other intercompany financing activities |  |  | — |  |  | 18.6 |  |  | 175.8 |  |  | (194.4) |  |  | —
Net cash provided by (used in) financing activities |  |  | 221.8 |  |  | (2.2) |  |  | 195.5 |  |  | (276.5) |  |  | 138.6
EFFECT OF EXCHANGE RATE CHANGES ON CASH |  |  | — |  |  | — |  |  | (0.2) |  |  | — |  |  | (0.2)
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS |  |  | (20.4) |  |  | 13.0 |  |  | (52.4) |  |  | — |  |  | (59.8)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR |  |  | 22.0 |  |  | 270.9 |  |  | 593.8 |  |  | — |  |  | 886.7
CASH AND CASH EQUIVALENTS AT END OF YEAR |  | $ | 1.6 |  | $ | 283.9 |  | $ | 541.4 |  | $ | — |  | $ | 826.9
Condensed Consolidating Statements of Cash Flows (unaudited - in millions)
|  | For the six months ended March 31, 2018
|  |  |  |  |  | Non- |  |  |  |  |  |
|  |  |  | Guarantor |  | Guarantor |  |  |  |  |  |
|  | Parent |  | Subsidiaries |  | 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 sale 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

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