SEC Filings

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

 

AECOM
Regulation G Information
(in millions, except per share data)

 

 

 

Three Months Ended

 

Six Months Ended

 

 

 

Mar 31,
2017

 

Dec 31,
2017

 

Mar 31,
2018

 

Mar 31,
2017

 

Mar 31,
2018

 

 

 

 

 

 

 

 

 

 

 

 

 

Reconciliation of Income from Operations to Adjusted Income from Operations

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from operations

 

$

140.9

 

$

131.2

 

$

(44.1

)

$

284.3

 

$

87.1

 

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 activities

 

(0.6

)

 

 

(0.6

)

 

Amortization of intangible assets

 

27.7

 

26.9

 

33.7

 

55.1

 

60.6

 

Adjusted income from operations

 

$

188.5

 

$

158.1

 

$

179.0

 

$

376.7

 

$

337.1

 

 

 

 

 

 

 

 

 

 

 

 

 

Reconciliation of Income Before Income Taxes to Adjusted Income Before Income Taxes

 

 

 

 

 

 

 

 

 

 

 

Income (loss) before income tax benefit

 

$

80.4

 

$

77.3

 

$

(132.1

)

$

171.0

 

$

(54.8

)

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 activities

 

(0.6

)

 

 

(0.6

)

 

Amortization of intangible assets

 

27.7

 

26.9

 

33.7

 

55.1

 

60.6

 

FX gain from forward currency contract

 

 

 

(9.1

)

 

(9.1

)

Financing charges in interest expense

 

8.7

 

2.9

 

44.2

 

11.5

 

47.1

 

Adjusted income before income tax (benefit) expense

 

$

136.7

 

$

107.1

 

$

126.1

 

$

274.9

 

$

233.2

 

 

 

 

 

 

 

 

 

 

 

 

 

Reconciliation of Income Taxes to Adjusted Income Taxes

 

 

 

 

 

 

 

 

 

 

 

Income tax benefit

 

$

(35.4

)

$

(47.1

)

$

(24.4

)

$

(10.6

)

$

(71.5

)

Tax effect of the above adjustments

 

15.5

 

5.4

 

26.6

 

24.3

 

32.0

 

Revaluation of deferred taxes and one-time tax repatriation charges associated with U.S. tax reform

 

 

41.7

 

 

 

41.7

 

Adjusted income tax (benefit) expense

 

$

(19.9

)

$

 

$

2.2

 

$

13.7

 

$

2.2

 

 


  Adjusts the income tax expense (benefit) during the period to exclude the impact on our effective tax rate of the pre-tax adjustments shown above and the impact of the tax reform changes.

 

 

Reconciliation of Noncontrolling Interests to Adjusted Noncontrolling Interests

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Noncontrolling interests in income of consolidated subsidiaries, net of tax

 

$

(13.4

)

$

(13.1

)

$

(12.0

)

$

(32.0

)

$

(25.1

)

Amortization of intangible assets included in NCI, net of tax

 

(2.4

)

(2.5

)

(3.3

)

(4.8

)

(5.8

)

Adjusted noncontrolling interests in income of consolidated subsidiaries, net of tax

 

$

(15.8

)

$

(15.6

)

$

(15.3

)

$

(36.8

)

$

(30.9

)

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) attributable to AECOM

 

$

102.4

 

$

111.3

 

$

(119.7

)

$

149.6

 

$

(8.4

)

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 activities

 

(0.6

)

 

 

(0.6

)

 

Amortization of intangible assets

 

27.7

 

26.9

 

33.7

 

55.1

 

60.6

 

FX gain from forward currency contract

 

 

 

(9.1

)

 

(9.1

)

Financing charges in interest expense

 

8.7

 

2.9

 

44.2

 

11.5

 

47.1

 

Tax effect of the above adjustments

 

(15.6

)

(5.4

)

(26.6

)

(24.4

)

(32.0

)

Revaluation of deferred taxes and one-time tax repatriation charges associated with U.S. tax reform

 

 

(41.7

)

 

 

(41.7

)

Amortization of intangible assets included in NCI, net of tax

 

(2.4

)

(2.5

)

(3.3

)

(4.8

)

(5.8

)

Adjusted net income attributable to AECOM

 

$

140.7

 

$

91.5

 

$

108.6

 

$

224.3

 

$

200.1

 

 

8