SEC Filings

8-K
AECOM filed this Form 8-K on 05/08/2018
Entire Document
 

 

AECOM

Regulation G Information

($ in millions)

 

Reconciliation of Revenue to Amounts Provided by Acquired Companies

 

 

 

Three Months Ended March 31, 2018

 

Six Months Ended March 31, 2018

 

 

 

Total

 

Provided by
Acquired
Companies

 

Excluding
Effect of
Acquired
Companies

 

Total

 

Provided by
Acquired
Companies

 

Excluding
Effect of
Acquired
Companies

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

AECOM Consolidated

 

$

4,790.9

 

$

124.3

 

$

4,666.6

 

$

9,701.7

 

$

283.2

 

$

9,418.5

 

Design & Consulting Services

 

2,004.7

 

 

2,004.7

 

3,946.6

 

 

3,946.6

 

Construction Services

 

1,888.3

 

124.3

 

1,764.0

 

4,013.8

 

283.2

 

3,730.6

 

Management Services

 

897.9

 

 

897.9

 

1,741.3

 

 

1,741.3

 

 

Reconciliation of Net Income Attributable to AECOM to EBITDA and to Adjusted EBITDA

 

 

 

Three Months Ended

 

Six Months Ended

 

 

 

 

 

Mar 31,
2017

 

Dec 31,
2017

 

Mar 31,
2018

 

Mar 31,
2017

 

Mar 31,
2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) attributable to AECOM

 

$

102.4

 

$

111.3

 

$

(119.7

)

$

149.6

 

$

(8.4

)

 

 

Income tax benefit

 

(35.4

)

(47.1

)

(24.4

)

(10.6

)

(71.5

)

 

 

Income (loss) attributable to AECOM before income taxes

 

67.0

 

64.2

 

(144.1

)

139.0

 

(79.9

)

 

 

Depreciation and amortization expense(1)

 

72.1

 

63.5

 

81.0

 

138.6

 

144.5

 

 

 

Interest income(2)

 

(1.3

)

(1.8

)

(3.4

)

(2.0

)

(5.2

)

 

 

Interest expense(3)

 

52.7

 

53.3

 

90.9

 

103.1

 

144.2

 

 

 

EBITDA

 

$

190.5

 

$

179.2

 

$

24.4

 

$

378.7

 

$

203.6

 

 

 

Non-core operating losses

 

0.5

 

 

21.2

 

2.5

 

21.2

 

 

 

Impairment of assets held for sale, including goodwill

 

 

 

168.2

 

 

168.2

 

 

 

Acquisition and integration expenses

 

20.0

 

 

 

35.4

 

 

 

 

Gain on disposal

 

(0.6

)

 

 

(0.6

)

 

 

 

FX gain from forward currency contract

 

 

 

(9.1

)

 

(9.1

)

 

 

Depreciation expense included in non-core operating losses and acquisition and integration expenses above

 

(0.5

)

 

(3.8

)

(0.8

)

(3.8

)

 

 

Adjusted EBITDA

 

$

209.9

 

$

179.2

 

$

200.9

 

$

415.2

 

$

380.1

 

 

 

 


(1) Includes the amount for noncontrolling interests in consolidated subsidiaries; (2) Included in other income; (3) Excludes related amortization

 

Reconciliation of Total Debt to Net Debt

 

 

 

Balances at:

 

 

 

Mar 31, 2017

 

Dec 31, 2017

 

Mar 31, 2018

 

Short-term debt

 

$

21.4

 

$

2.4

 

$

9.8

 

Current portion of long-term debt

 

331.2

 

160.9

 

123.9

 

Long-term debt, gross

 

3,908.9

 

3,788.4

 

3,865.4

 

Total debt excluding unamortized debt issuance costs

 

4,261.5

 

3,951.7

 

3,999.1

 

Less: Total cash and cash equivalents

 

725.9

 

813.2

 

867.2

 

Net debt

 

$

3,535.6

 

$

3,138.5

 

$

3,131.9

 

 

Reconciliation of Net Cash Provided by Operating Activities to Free Cash Flow

 

 

 

Three Months Ended

 

 

 

Jun 30,
2016

 

Sep 30,
2016

 

Dec 31,
2016

 

Mar 31,
2017

 

Jun 30,
2017

 

Sep 30,
2017

 

Dec 31,
2017

 

Mar 31,
2018

 

Net cash provided by (used in) operating activities

 

$

260.1

 

$

362.9

 

$

77.5

 

$

(46.1

)

$

413.9

 

$

251.4

 

$

52.4

 

$

118.4

 

Capital expenditures, net

 

(68.8

)

(36.9

)

(21.0

)

(17.7

)

(19.8

)

(20.0

)

(18.5

)

(23.7

)

Free cash flow

 

$

191.3

 

$

326.0

 

$

56.5

 

$

(63.8

)

$

394.1

 

$

231.4

 

$

33.9

 

$

94.7

 

 

 

 

Fiscal Years Ended Sep 30,

 

 

 

2012

 

2013

 

2014

 

2015

 

2016

 

2017

 

Net cash provided by operating activities

 

$

433.4

 

$

408.6

 

$

360.6

 

$

764.4

 

$

814.2

 

$

696.7

 

Capital expenditures, net

 

(62.9

)

(52.1

)

(62.8

)

(69.4

)

(136.8

)

(78.5

)

Free cash flow

 

$

370.5

 

$

356.5

 

$

297.8

 

$

695.0

 

$

677.4

 

$

618.2

 

 

7