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Discontinued Operations, Goodwill and Intangible Assets (Tables)

6 Months Ended

Mar. 31, 2020

Discontinued Operations, Goodwill and Intangible Assets

Summarized results of the discontinued operation, included in the Company's results of operations

The following table represents summarized balance sheet information of assets and liabilities held for sale (in millions):

​

​	​	​	​	​	​	​
​		March 31,			September 30,
​	​	2020		​	2019
​	​	​	​	​	​	​
Cash and cash equivalents	​	$	131.3	​	$	194.7
Receivables and contract assets	​		646.5	​		1,326.6
Other	​		22.0	​		112.0
Current assets held for sale	​	$	799.8	​	$	1,633.3
​	​	​	​	​	​	​
Property and equipment, net	​	$	113.0	​	$	153.8
Goodwill	​		—	​		1,798.5
Other	​		225.7	​		364.7
Non-current assets held for sale	​	$	338.7	​	$	2,317.0
​	​	​	​	​	​	​
Accounts payable and accrued expenses	​	$	448.7	​	$	1,056.0
Contract liabilities	​		78.6	​		88.9
Other	​		24.6	​		18.8
Current liabilities held for sale	​	$	551.9	​	$	1,163.7
​	​	​	​	​	​	​
Long term liabilities held for sale	​	$	97.1	​	$	314.0

​

The following table represents summarized income statement information of discontinued operations (in millions):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three months ended

Six months ended

​

March 31,

March 31,

March 31,

March 31,

​

​

2020

​

2019

2020

​

2019

​

​

​

​

​

​

​

​

​

​

​

​

​

Revenue

​

$

811.5

​

$

1,627.4

​

$

2,314.3

​

$

3,308.6

Cost of revenue

​

882.5

​

1,576.9

​

​

2,356.0

​

​

3,210.9

Gross (loss) profit

​

(71.0)

​

50.5

​

​

(41.7)

​

​

97.7

Equity in earnings of joint ventures

​

(21.7)

​

9.4

​

​

(16.9)

​

​

15.3

Gain on disposal activities

​

​

147.0

​

​

—

​

​

147.0

​

​

—

Transaction costs

​

​

(41.4)

​

​

—

​

​

(41.4)

​

​

—

Impairment of goodwill and intangibles assets

​

​

(89.3)

​

​

—

​

​

(89.3)

​

​

—

(Loss) income from operations

​

(76.4)

​

59.9

​

​

(42.3)

​

​

113.0

Other income

​

0.4

​

0.4

​

​

1.8

​

​

1.2

Interest expense

​

(25.9)

​

(16.5)

​

​

(38.7)

​

​

(33.3)

(Loss) income before taxes

​

(101.9)

​

43.8

​

​

(79.2)

​

​

80.9

Income tax expense

​

28.8

​

8.6

​

​

33.4

​

​

17.5

Net (loss) income from discontinued operations

​

$

(130.7)

​

$

35.2

​

$

(112.6)

​

$

63.4

​

The significant components included in the Consolidated Statement of Cash Flows for the discontinued operations are as follows (in millions):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three months ended

Six months ended

​

March 31,

March 31,

March 31,

March 31,

​

​

2020

​

2019

2020

​

2019

​

​

​

​

​

​

​

​

​

​

​

​

​

Depreciation and amortization:

​

​

​

​

​

​

​

​

Property and equipment

​

$

—

​

$

6.0

​

$

4.6

​

$

13.7

Intangible assets and capitalized debt issuance costs

​

$

18.7

​

$

16.5

​

$

31.5

​

$

32.9

Payments for capital expenditures

​

$

(6.0)

​

$

(5.0)

​

$

(14.2)

​

$

(9.2)

​

Schedule of carrying value of goodwill by reportable segment

​

​	​	​	​	​	​	​	​	​	​
​		​	​		Foreign			​	​
​	​	September 30,		​	Exchange		​	March 31,
​	​	2019		​	Impact		​	2020
​	​	(in millions)
Americas	​	$	2,623.0	​	$	(9.9)	​	$	2,613.1
International	​		853.8	​		(20.0)	​		833.8
Total	​	$	3,476.8	​	$	(29.9)	​	$	3,446.9

Schedule of finite-lived intangible assets by major class

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

March 31, 2020

​

September 30, 2019

​

​

​

​

​

​

Gross

​

Accumulated

​

Intangible

​

Gross

​

Accumulated

​

Intangible

​

Amortization

​

Amount

Amortization

Assets, Net

Amount

Amortization

Assets, Net

Period

​

​

(in millions)

​

(years)

Backlog and customer relationships

​

$

661.7

​

$

(574.1)

​

$

87.6

​

$

661.4

​

$

(561.8)

​

$

99.6

1

-

11

Schedule of estimated future amortization expense of intangible assets

​

​	​	​	​
Fiscal Year		(in millions)
2020 (six months remaining)	​	$	11.3
2021	​		20.1
2022	​		19.3
2023	​		18.5
2024	​		17.4
Thereafter	​		1.0
Total	​	$	87.6

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