SEC Filings

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

 

AECOM

Regulation G Information

($ in millions, except per share data)

 

 

 

Three Months Ended

 

 

 

Dec 31,
2017

 

Sep 30,
2018

 

Dec 31,
2018

 

Reconciliation of Income from Operations to Adjusted Income from Operations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from operations

 

$

131.2

 

$

177.0

 

$

83.9

 

Non-core operating losses

 

 

17.5

 

15.0

 

Acquisition and integration related items

 

 

(4.8

)

(4.3

)

Restructuring costs

 

 

 

63.3

 

Loss on disposal activity

 

 

0.8

 

 

Amortization of intangible assets

 

26.9

 

27.4

 

25.7

 

Adjusted income from operations

 

$

158.1

 

$

217.9

 

$

183.6

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income before income tax (benefit) expense

 

$

77.3

 

$

124.1

 

$

31.5

 

Non-core operating losses

 

 

17.4

 

15.0

 

Acquisition and integration related items

 

 

(4.8

)

(4.3

)

Restructuring costs

 

 

 

63.3

 

Loss on disposal activity

 

 

0.8

 

 

Amortization of intangible assets

 

26.9

 

27.4

 

25.7

 

Financing charges in interest expense

 

2.9

 

2.9

 

2.4

 

Adjusted income before income tax (benefit) expense

 

$

107.1

 

$

167.8

 

$

133.6

 

 

 

 

 

 

 

 

 

Reconciliation of Income Taxes to Adjusted Income Taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income tax (benefit) expense

 

$

(47.1

)

$

18.7

 

$

(33.6

)

Tax effect of the above adjustments*

 

5.4

 

9.4

 

28.5

 

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

 

41.7

 

6.1

 

1.5

 

Valuation allowances and other tax only items

 

 

(25.0

)

32.1

 

Adjusted income tax expense

 

$

 

$

9.2

 

$

28.5

 

 

 

 

 

 

 

 

 

Reconciliation of Noncontrolling Interest to Adjusted Noncontrolling Interests

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Noncontrolling interests in income of consolidated subsidiaries, net of tax

 

$

(13.1

)

$

(21.4

)

$

(13.6

)

Acquisition and integration related items, net of tax

 

 

0.4

 

0.4

 

Amortization of intangible assets included in NCI, net of tax

 

(2.5

)

(3.3

)

(3.0

)

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

 

$

(15.6

)

$

(24.3

)

$

(16.2

)

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income attributable to AECOM

 

$

111.3

 

$

84.0

 

$

51.5

 

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

 

 

Amortization of intangible assets

 

26.9

 

27.4

 

25.7

 

Financing charges in interest expense

 

2.9

 

2.9

 

2.4

 

Tax effect of the above adjustments*

 

(5.4

)

(9.4

)

(28.5

)

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

 

(41.7

)

(6.1

)

(1.5

)

Valuation allowances and other tax only items

 

 

25.0

 

(32.1

)

Amortization of intangible assets included in NCI, net of tax

 

(2.5

)

(3.3

)

(3.0

)

Adjusted net income attributable to AECOM

 

$

91.5

 

$

134.4

 

$

88.9

 

 

 

 

 

 

 

 

 

Reconciliation of Net Income per Diluted Share to Adjusted Net Income per Diluted Share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income attributable to AECOM - per diluted share

 

$

0.69

 

$

0.52

 

$

0.32

 

Per diluted share adjustments:

 

 

 

 

 

 

 

Non-core operating losses

 

 

0.11

 

0.09

 

Acquisition and integration related expenses

 

 

(0.03

)

(0.02

)

Restructuring costs

 

 

 

0.40

 

Amortization of intangible assets

 

0.17

 

0.17

 

0.16

 

Financing charges in interest expense

 

0.02

 

0.02

 

0.02

 

Tax effect of the above adjustments*

 

(0.03

)

(0.06

)

(0.18

)

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

 

(0.26

)

(0.03

)

(0.01

)

Valuation allowances and other tax only items

 

 

0.15

 

(0.20

)

Amortization of intangible assets included in NCI, net of tax

 

(0.02

)

(0.02

)

(0.02

)

Adjusted net income attributable to AECOM - per diluted shares

 

$

0.57

 

$

0.83

 

$

0.56

 

 

 

 

 

 

 

 

 

Weighted average shares outstanding - diluted

 

161.8

 

161.8

 

159.6

 

 


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

 

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