15. Reportable Segments

The Company’s operations are organized into four reportable segments: Design and Consulting Services (DCS), Construction Services (CS), Management Services (MS), and AECOM Capital (ACAP). The Company’s DCS reportable segment delivers planning, consulting, architectural, environmental, and engineering design services to commercial and government clients worldwide. The Company’s CS reportable segment provides construction services primarily in the Americas. The Company’s MS reportable segment provides program and facilities management and maintenance, training, logistics, consulting, technical assistance, and systems integration and information technology services, primarily for agencies of the U.S. government. The Company’s ACAP segment invests in real estate and public-private partnership (P3) projects. These reportable segments are organized by the types of services provided, the differing specialized needs of the respective clients, and how the Company manages its business. The Company has aggregated various operating segments into its reportable segments based on their similar characteristics, including similar long term financial performance, the nature of services provided, internal processes for delivering those services, and types of customers.

The following tables set forth summarized financial information concerning the Company’s reportable segments:


	Design and
	Consulting			Construction			Management			AECOM
Reportable Segments:	Services			Services			Services			Capital		Corporate		Total
	(in millions)
Three Months Ended March 31, 2019:
Revenue	$	2,100.8		$	1,917.8		$	1,019.9		$	1.5	$	—	$	5,040.0
Gross profit		129.8			16.7			47.4			1.5		—		195.4
Equity in earnings of joint ventures		5.5			6.8			3.9			9.7		—		25.9
General and administrative expenses		—			—			—			(1.7)		(35.7)		(37.4)
Restructuring costs		—			—			—			—		(15.9)		(15.9)
Operating income		135.3			23.5			51.3			9.5		(51.6)		168.0

Gross profit as a % of revenue		6.2	%		0.9	%		4.6	%		—		—		3.9	%

Three Months Ended March 31, 2018:
Revenue	$	2,004.7		$	1,888.3		$	897.9		$	—	$	—	$	4,790.9
Gross profit (loss)		120.3			(13.3)			34.2			—		—		141.2
Equity in earnings of joint ventures		2.8			1.2			9.1			—		—		13.1
General and administrative expenses		—			—			—			(2.9)		(27.3)		(30.2)
Impairment of assets held for sale, including goodwill		—			(168.2)			—			—		—		(168.2)
Operating income (loss)		123.1			(180.3)			43.3			(2.9)		(27.3)		(44.1)

Gross profit (loss) as a % of revenue		6.0	%		(0.7)	%		3.8	%		—		—		2.9	%


Six Months Ended March 31, 2019:
Revenue	$	4,130.5		$	3,932.3		$	2,009.3		$	5.4	$	—	$	10,077.5
Gross profit		245.5			19.9			95.2			5.4		—		366.0
Equity in earnings of joint ventures		9.3			14.7			7.2			7.2		—		38.4
General and administrative expenses		—			—			—			(3.4)		(69.9)		(73.3)
Restructuring costs		—			—			—			—		(79.2)		(79.2)
Operating income		254.8			34.6			102.4			9.2		(149.1)		251.9

Gross profit as a % of revenue		5.9	%		0.5	%		4.7	%		—		—		3.6	%

Six Months Ended March 31, 2018:
Revenue	$	3,946.6		$	4,013.8		$	1,741.3		$	—	$	—	$	9,701.7
Gross profit		198.1			13.8			65.5			—		—		277.4
Equity in earnings of joint ventures		10.3			14.6			17.9			—		—		42.8
General and administrative expenses		—			—			—			(5.5)		(59.4)		(64.9)
Impairment of assets held for sale, including goodwill		—			(168.2)			—			—		—		(168.2)
Operating income (loss)		208.4			(139.8)			83.4			(5.5)		(59.4)		87.1

Gross profit as a % of revenue		5.0	%		0.3	%		3.8	%		—		—		2.9	%


Reportable Segments:
Total assets
March 31, 2019	$	7,127.8	$	4,211.6	$	2,683.2	$	165.7	$	548.7	$	14,737.0
September 30, 2018		7,013.8		4,212.0		2,701.2		140.6		613.5		14,681.1