SEC Filings

8-K
AECOM filed this Form 8-K on 02/05/2019
Entire Document
 

 

AECOM

Regulation G Information

($ in millions)

 

Reconciliation of Revenue to Amounts Provided by Acquired Companies

 

 

 

Three Months Ended Dec 31, 2018

 

 

 

Total

 

Provided by
Acquired
Companies

 

Excluding Effect
of Acquired
Companies

 

Revenue:

 

 

 

 

 

 

 

AECOM Consolidated

 

$

5,037.5

 

$

35.8

 

$

5,001.7

 

Design & Consulting Services

 

2,029.7

 

 

2,029.7

 

Construction Services

 

2,014.5

 

35.8

 

1,978.7

 

Management Services

 

989.4

 

 

989.4

 

AECOM Capital

 

3.9

 

 

3.9

 

 

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

 

 

 

Three months ended

 

 

 

Dec 31,
2017

 

Sep 30,
2018

 

Dec 31,
2018

 

Net income attributable to AECOM

 

$

111.3

 

$

84.0

 

$

51.5

 

Income tax (benefit) expense

 

(47.1

)

18.8

 

(33.6

)

Income attributable to AECOM before income taxes

 

64.2

 

102.8

 

17.9

 

Depreciation and amortization expense(1)

 

63.5

 

68.5

 

64.3

 

Interest income(2)

 

(1.8

)

(2.1

)

(2.7

)

Interest expense(3)

 

53.3

 

52.5

 

53.5

 

EBITDA

 

179.2

 

221.7

 

133.0

 

Non-core operating losses

 

 

17.5

 

15.0

 

Acquisition and integration related items

 

 

(4.4

)

(3.9

)

Restructuring costs

 

 

 

63.3

 

Loss on disposal activity

 

 

0.8

 

 

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

 

 

(2.2

)

(0.2

)

Adjusted EBITDA

 

$

179.2

 

$

233.4

 

$

207.2

 

 

 

 

Fiscal Years Ended Sep 30,

 

 

 

2016

 

2017

 

2018

 

Net income attributable to AECOM

 

$

96.1

 

$

339.4

 

$

136.5

 

Income tax (benefit) expense

 

(37.9

)

7.7

 

(19.6

)

Income attributable to AECOM before income taxes

 

58.2

 

347.1

 

116.9

 

Depreciation and amortization expense(1)

 

414.5

 

280.0

 

281.0

 

Interest income(2)

 

(4.3

)

(5.5

)

(9.6

)

Interest expense(3)

 

225.8

 

212.4

 

249.4

 

EBITDA

 

694.2

 

834.0

 

637.7

 

Non-core operating losses

 

36.9

 

9.4

 

57.4

 

Loss on assets held for sale, including goodwill

 

 

 

168.2

 

Acquisition and integration related items

 

213.6

 

38.7

 

(10.9

)

Loss (gain) on disposal activity

 

42.6

 

(0.6

)

2.9

 

FX gain from forward currency contract

 

 

 

(9.1

)

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

 

(28.8

)

(0.8

)

(9.7

)

Adjusted EBITDA

 

$

958.5

 

$

880.7

 

$

836.5

 

 


(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

 

 

 

Dec 31,
2017

 

Sep 30,
2018

 

Dec 31,
2018

 

Short-term debt

 

$

2.4

 

$

8.4

 

$

46.1

 

Current portion of long-term debt

 

160.9

 

134.7

 

114.7

 

Long-term debt, gross

 

3,788.4

 

3,530.4

 

3,803.7

 

Total debt, excluding unamortized debt issuance costs

 

3,951.7

 

3,673.5

 

3,964.5

 

Less: Total cash and cash equivalents

 

813.2

 

886.7

 

838.3

 

Net Debt

 

$

3,138.5

 

$

2,786.8

 

$

3,126.2

 

 

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

 

 

 

Three Months Ended

 

 

 

Dec 31,
2017

 

Sep 30,
2018

 

Dec 31,
2018

 

Net cash provided by (used in) operating activities

 

$

52.4

 

$

531.9

 

$

(200.4

)

Capital expenditures, net

 

(18.5

)

(21.2

)

(21.9

)

Free Cash Flow

 

$

33.9

 

$

510.7

 

$

(222.3

)

 

 

 

Fiscal Years Ended Sep 30,

 

 

 

2015

 

2016

 

2017

 

2018

 

Net cash provided by operating activities

 

$

764.4

 

$

814.2

 

$

696.7

 

$

774.6

 

Capital expenditures, net

 

(69.4

)

(136.8

)

(78.5

)

(86.9

)

Free Cash Flow

 

$

695.0

 

$

677.4

 

$

618.2

 

$

687.7

 

 

7