AECOM (ACM) 10-Q 8 Feb 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Dec. 31, 2016	Feb. 01, 2017
Document and Entity Information
Entity Registrant Name	AECOM
Entity Central Index Key	868,857
Document Type	10-Q
Document Period End Date	Dec. 31, 2016
Amendment Flag	false
Current Fiscal Year End Date	--09-30
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		155,315,517
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2016	Sep. 30, 2016
CURRENT ASSETS:
Cash and cash equivalents	$ 560,513	$ 588,644
Cash in consolidated joint ventures	137,204	103,501
Total cash and cash equivalents	697,717	692,145
Accounts receivable-net	4,538,396	4,531,460
Prepaid expenses and other current assets	707,738	730,101
Income taxes receivable	41,250	47,065
TOTAL CURRENT ASSETS	5,985,101	6,000,771
PROPERTY AND EQUIPMENT-NET	634,916	644,992
DEFERRED TAX ASSETS-NET	136,442	171,508
INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES	343,874	330,485
GOODWILL	5,784,423	5,823,843
INTANGIBLE ASSETS-NET	449,785	479,439
OTHER NON-CURRENT ASSETS	174,455	218,898
TOTAL ASSETS	13,508,996	13,669,936
CURRENT LIABILITIES:
Short-term debt	14,785	26,303
Accounts payable	1,967,051	1,910,915
Accrued expenses and other current liabilities	2,168,508	2,384,815
Income taxes payable	10,774	10,774
Billings in excess of costs on uncompleted contracts	660,266	631,928
Current portion of long-term debt	343,944	340,021
TOTAL CURRENT LIABILITIES	5,165,328	5,304,756
OTHER LONG-TERM LIABILITIES	358,755	403,364
DEFERRED TAX LIABILITY-NET	12,887	13,097
PENSION BENEFIT OBLIGATIONS	660,797	694,073
LONG-TERM DEBT	3,751,342	3,702,157
TOTAL LIABILITIES	9,949,109	10,117,447
COMMITMENTS AND CONTINGENCIES (Note 14)
AECOM STOCKHOLDERS' EQUITY:
Common stock-authorized, 300,000,000 shares of $0.01 par value as of December 31 and September 30, 2016; issued and outstanding 155,143,497 and 153,901,500 shares as of December 31 and September 30, 2016, respectively	1,551	1,539
Additional paid-in capital	3,620,291	3,604,519
Accumulated other comprehensive loss	(912,858)	(857,582)
Retained earnings	669,429	618,445
TOTAL AECOM STOCKHOLDERS' EQUITY	3,378,413	3,366,921
Noncontrolling interests	181,474	185,568
TOTAL STOCKHOLDERS' EQUITY	3,559,887	3,552,489
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 13,508,996	$ 13,669,936

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2016	Sep. 30, 2016
Consolidated Balance Sheets
Common stock, authorized shares	300,000,000	300,000,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, issued shares	155,143,497	153,901,500
Common stock, outstanding shares	155,143,497	153,901,500

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Consolidated Statements of Operations
Revenue	$ 4,358,349	$ 4,297,651
Cost of revenue	4,188,376	4,156,793
Gross profit	169,973	140,858
Equity in earnings of joint ventures	21,471	25,263
General and administrative expenses	(32,639)	(28,639)
Acquisition and integration expenses	(15,412)	(41,038)
Loss on disposal activities		(41,053)
Income from operations	143,393	55,391
Other income	860	3,042
Interest expense	(53,637)	(59,518)
Income (loss) before income tax expense	90,616	(1,085)
Income tax expense (benefit)	24,838	(682)
Net income (loss)	65,778	(403)
Noncontrolling interests in income of consolidated subsidiaries, net of tax	(18,599)	(19,964)
Net income (loss) attributable to AECOM	$ 47,179	$ (20,367)
Net income (loss) attributable to AECOM per share:
Basic (in dollars per share)	$ 0.31	$ (0.13)
Diluted (in dollars per share)	$ 0.30	$ (0.13)
Weighted average shares outstanding:
Basic (in shares)	154,255	153,619
Diluted (in shares)	157,993	153,619

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Consolidated Statements of Comprehensive Income (Loss)
Net income (loss)	$ 65,778	$ (403)
Other comprehensive income (loss), net of tax:
Net unrealized gain on derivatives, net of tax	1,367	5,323
Foreign currency translation adjustments	(73,924)	(97,694)
Pension adjustments, net of tax	16,973	689
Other comprehensive loss, net of tax	(55,584)	(91,682)
Comprehensive income (loss), net of tax	10,194	(92,085)
Noncontrolling interests in comprehensive (loss) of consolidated subsidiaries, net of tax	(18,291)	(18,337)
Comprehensive income (loss), attributable to AECOM, net of tax	$ (8,097)	$ (110,422)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ 65,778	$ (403)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	66,916	111,018
Equity in earnings of unconsolidated joint ventures	(21,471)	(25,263)
Distribution of earnings from unconsolidated joint ventures	24,370	39,370
Non-cash stock compensation	21,337	21,500
Excess tax benefit from share-based payment		(3,324)
Foreign currency translation	(15,387)	(54,312)
Pension curtailment and settlement gains		(7,818)
Loss on disposal activities		41,053
Other	(3,077)	2,892
Changes in operating assets and liabilities, net of effects of acquisitions:
Accounts receivable	47,064	29,119
Prepaid expenses and other current and non-current assets	(14,728)	(6,075)
Accounts payable	55,460	53,522
Accrued expenses and other current liabilities	(144,301)	(140,765)
Billings in excess of costs on uncompleted contracts	26,019	18,068
Other long-term liabilities	(30,473)	(527)
Net cash provided by operating activities	77,507	78,055
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from disposal of businesses		37,567
Net investment in unconsolidated joint ventures	(18,133)	(7,724)
Proceeds from sales of investments	300	11,201
Payments for purchase of investments		(214)
Proceeds from disposal of property and equipment	2,557	21,940
Payments for capital expenditures	(23,584)	(22,783)
Net cash (used in) provided by investing activities	(38,860)	39,987
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from borrowings under credit agreements	1,634,781	1,222,663
Repayments of borrowings under credit agreements	(1,607,380)	(1,304,882)
Cash paid for debt and equity issuance costs		(1,178)
Proceeds from issuance of common stock	9,875	6,894
Proceeds from exercise of stock options	2,067	3,013
Payments to repurchase common stock	(17,494)	(17,343)
Excess tax benefit from share-based payment		3,324
Net distributions to noncontrolling interests	(21,938)	(37,785)
Other financing activities	(26,280)	(12,950)
Net cash (used in) financing activities	(26,369)	(138,244)
EFFECT OF EXCHANGE RATE CHANGES ON CASH	(6,706)	(5,647)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	5,572	(25,849)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR	692,145	683,893
CASH AND CASH EQUIVALENTS AT END OF YEAR	$ 697,717	$ 658,044

Basis of Presentation

Basis of Presentation	3 Months Ended
	Dec. 31, 2016
Basis of Presentation
Basis of Presentation	1. Basis of Presentation Effective January 5, 2015, the official name of the Company changed from AECOM Technology Corporation to AECOM. The accompanying consolidated financial statements of AECOM (the Company) are unaudited and, in the opinion of management, include all adjustments, including all normal recurring items necessary for a fair statement of the Company’s financial position and results of operations for the periods presented. All inter-company balances and transactions are eliminated in consolidation. The consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Form 10-K for the fiscal year ended September 30, 2016 (the Annual Report). The accompanying unaudited consolidated financial statements and related notes have been prepared in accordance with generally accepted accounting principles (GAAP) in the U.S. for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. Certain immaterial reclassifications were made to the prior year to conform to current year presentation. The consolidated financial statements included in this report have been prepared consistently with the accounting policies described in the Annual Report and should be read together with the Annual Report. The results of operations for the three months ended December 31, 2016 are not necessarily indicative of the results to be expected for the fiscal year ending September 30, 2017. The Company reports its annual results of operations based on 52 or 53-week periods ending on the Friday nearest September 30. The Company reports its quarterly results of operations based on periods ending on the Friday nearest December 31, March 31, and June 30. For clarity of presentation, all periods are presented as if the periods ended on September 30, December 31, March 31, and June 30.

New Accounting Pronouncements a

New Accounting Pronouncements and Changes in Accounting	3 Months Ended
	Dec. 31, 2016
New Accounting Pronouncements and Changes in Accounting
New Accounting Pronouncements and Changes in Accounting	2. New Accounting Pronouncements and Changes in Accounting In May 2014, the Financial Accounting Standards Board (FASB) issued new accounting guidance which amended the existing accounting standards for revenue recognition. The new accounting guidance establishes principles for recognizing revenue upon the transfer of promised goods or services to customers, in an amount that reflects the expected consideration received in exchange for those goods or services. The amendments may be applied retrospectively to each prior period presented or retrospectively with the cumulative effect recognized as of the date of initial application. The Company continues to evaluate the impact and method of the adoption of the new accounting guidance on its consolidated financial statements and expects to adopt the new guidance on October 1, 2018. In February 2015, the FASB issued amended guidance to the consolidation standard which updates the analysis that a reporting entity must perform to determine whether it should consolidate certain types of legal entities. The amendment modifies the evaluation of whether limited partnerships and similar legal entities are variable interest entities (VIEs) or voting interest entities and affects the consolidation analysis of reporting entities that are involved with VIEs, particularly those that have fee arrangements and related party relationships, among other provisions. This amended guidance was effective for the Company’s fiscal year beginning October 1, 2016. The adoption of this guidance did not have a material impact on the Company’s financial statements. In April 2015, the FASB issued new accounting guidance which requires debt issuance costs to be presented in the balance sheet as a direct deduction from the carrying value of the associated debt liability, consistent with the presentation of a debt discount. Prior to the issuance of the standard, debt issuance costs were required to be presented in the balance sheet as an asset. The guidance requires retrospective application and represents a change in accounting principle. This guidance was effective for the Company’s fiscal year beginning October 1, 2016, which resulted in the reclassifications of $54.0 million and $56.8 million of unamortized debt issuance costs at December 31 and September 30, 2016, respectively, from other non-current assets to long-term debt. In April 2015, the FASB issued new accounting guidance which provides the use of a practical expedient that permits the entity to measure defined benefit plans assets and obligations using the month-end date that is closest to the entity’s fiscal year-end date and apply that practical expedient consistently from year to year. This guidance was effective for the Company’s fiscal year beginning October 1, 2016 and did not have a material impact on its consolidated financial statements. In February 2016, the FASB issued new accounting guidance which changes accounting for leases. The new guidance requires lessees to recognize the assets and liabilities arising from all leases, including those classified as operating leases under previous accounting guidance, on the balance sheet. It also requires disclosure of key information about leasing arrangements to increase transparency and comparability among organizations. The guidance will be effective for the Company’s fiscal year beginning October 1, 2019 with early adoption permitted. The new guidance must be adopted using a modified retrospective transition approach and provides for certain practical expedients. The Company is currently evaluating the impact that the new guidance will have on its consolidated financial statements. In March 2016, the FASB issued new accounting guidance which simplifies the accounting for employee share-based payments. The new guidance requires all income tax effects of awards to be recognized in the statement of operations when the awards vest or are settled. It will also allow an employer to repurchase more of an employee’s shares for tax withholding purposes without triggering liability accounting and to make a policy election to account for forfeitures as they occur. The Company has elected early adoption of this standard in the first quarter of fiscal year 2017. The adoption of this guidance did not have a material impact on the Company’s consolidated financial statements. In June 2016, the FASB issued a new credit loss standard that changes the impairment model for most financial assets and certain other instruments. The new guidance will replace the current “incurred loss” approach with an “expected loss” model for instruments measured at amortized cost. It also simplifies the accounting model for purchased credit-impaired debt securities and loans. The guidance will be effective for the Company’s fiscal year starting October 1, 2020. The Company is currently evaluating the impact that the new guidance will have on its consolidated financial statements. In August 2016, the FASB issued new guidance clarifying how entities should classify certain cash receipts and cash payments on the statement of cash flows. The guidance also clarifies how the predominance principle should be applied when cash receipts and cash payments have aspects of more than one class of cash flows. The guidance will be effective for the Company in its fiscal year beginning October 1, 2018, and early adoption is permitted. The Company is currently evaluating the impact that the new guidance will have on its consolidated statement of cash flows.

Business Acquisitions, Goodwill

Business Acquisitions, Goodwill and Intangible Assets	3 Months Ended
	Dec. 31, 2016
Business Acquisitions, Goodwill and Intangible Assets
Business Acquisitions, Goodwill and Intangible Assets	3. Business Acquisitions, Goodwill and Intangible Assets The Company completed one acquisition during the year ended September 30, 2016 for total consideration of $5.5 million. The business combination did not meet the quantitative thresholds to require separate disclosures based on the Company’s consolidated net assets, investments and net income. The acquisition was accounted for under the purchase method of accounting. As such, the purchase consideration was allocated to acquired tangible and intangible assets and liabilities based upon their fair values. The determination of fair values of assets and liabilities acquired requires the Company to make estimates and use valuation techniques when market value is not readily available. Transaction costs associated with business acquisitions are expensed as they are incurred. On October 17, 2014, the Company completed the acquisition of the U.S. headquartered URS Corporation (URS), an international provider of engineering, construction, and technical services, by purchasing 100% of the outstanding shares of URS common stock. The Company paid total consideration of approximately $2.3 billion in cash and issued approximately $1.6 billion of AECOM common stock to the former stockholders and certain equity award holders of URS. In connection with the acquisition, the Company also assumed URS’s senior notes totaling $0.4 billion, net of Company repayments. The Company repaid in full URS’s $0.6 billion 2011 term loan and $0.1 billion of URS’s revolving line of credit. The Company acquired backlog and customer relationship intangible assets valued at $973.8 million representing the fair value of existing contracts and the underlying customer relationships, and have lives ranging from 1 to 11 years (weighted average lives of approximately 3 years) in connection with the URS acquisition. Acquired accrued expenses and other current liabilities include URS project liabilities and approximately $240 million related to estimated URS legal settlements and uninsured legal damages; see Note 14, Commitments and Contingencies, including legal matters related to former URS affiliates. Amortization of intangible assets relating to URS, included in cost of revenue, was $20.9 million and $59.0 million during the three months ended December 31, 2016 and 2015, respectively. Additionally, included in equity in earnings of joint ventures and noncontrolling interests was intangible amortization expense of $2.0 million and ($2.1) million, respectively, during the three months ended December 31, 2016 and $9.7 million and ($5.7) million, respectively, during the three months ended December 31, 2015 related to joint venture fair value adjustments. Billings in excess of costs on uncompleted contracts includes a margin fair value liability associated with long-term contracts acquired in connection with the acquisition of URS. This margin fair value liability was $149.1 million at the acquisition date and its carrying value was $13.3 million at December 31, 2016, and is recognized as revenue on a percentage-of-completion basis as the applicable projects progress. The majority of this liability was recognized over the first two years from the acquisition date. Revenue and the related income from operations related to the margin fair value liability recognized during the three months ended December 31, 2016 and 2015 was $1.6 million and $15.1 million, respectively. Acquisition and integration expenses, relating to the acquisition of URS, in the accompanying consolidated statements of operations comprised of the following (in millions): Three months ended Dec 31, 2016 2015 Severance and personnel costs $ $ Professional service, real estate-related, and other expenses Total $ $ Included in severance and personnel costs for the three months ended December 31, 2016 and 2015 was $8.7 million and $6.6 million of severance expenses, respectively, of which $0 and $4.3 million was paid as of December 31, 2016 and 2015, respectively. All acquisition and integration expenses are classified within the Corporate segment, as presented in Note 15. Interest expense in the consolidated statements of operations for the three months ended December 31, 2016 and 2015 included acquisition related financing expenses of $2.8 million and $4.1 million, respectively. Loss on disposal activities of $41.0 million in the accompanying Statements of Operations for the three months ended December 31, 2015 included losses on the disposition of non-core energy related businesses, equipment and other assets acquired with URS and reported within the Construction Services segment. Net assets related to the loss on disposal activities were $99.6 million. Income from operations included losses incurred by non-core businesses of $7.1 million during the three months ended December 31, 2015. The changes in the carrying value of goodwill by reportable segment for the three months ended December 31, 2016 were as follows: September 30, Post- Foreign Disposed December 31, (in millions) Design and Consulting Services $ $ — $ ) $ — $ Construction Services — ) — Management Services — ) — Total $ $ — $ ) $ — $ The gross amounts and accumulated amortization of the Company’s acquired identifiable intangible assets with finite useful lives as of December 31 and September 30, 2016, included in intangible assets—net, in the accompanying consolidated balance sheets, were as follows: December 31, 2016 September 30, 2016 Gross Accumulated Intangible Gross Accumulated Intangible Amortization (in millions) (years) Backlog and customer relationships $ $ ) $ $ $ ) $ 1 – 11 Trademark / tradename ) — ) — 0.3 - 2 Total $ $ ) $ $ $ ) $ Amortization expense of acquired intangible assets included within cost of revenue was $25.4 million and $65.1 million for the three months ended December 31, 2016 and 2015, respectively. The following table presents estimated amortization expense of existing intangible assets for the remainder of fiscal 2017 and for the succeeding years: Fiscal Year (in millions) 2017 (nine months remaining) $ 2018 2019 2020 2021 Thereafter Total $

Accounts Receivable - Net

Accounts Receivable - Net	3 Months Ended
	Dec. 31, 2016
Accounts Receivable - Net
Accounts Receivable - Net	4. Accounts Receivable—Net Net accounts receivable consisted of the following: December 31, September 30, (in millions) Billed $ $ Unbilled Contract retentions Total accounts receivable—gross Allowance for doubtful accounts ) ) Total accounts receivable—net $ $ Billed accounts receivable represents amounts billed to clients that have yet to be collected. Unbilled accounts receivable represents contract revenue recognized but not yet billed pursuant to contract terms or accounts billed after the period end. Substantially all unbilled receivables as of December 31, 2016 and September 30, 2016 are expected to be billed and collected within twelve months. Contract retentions represent amounts invoiced to clients where payments have been withheld pending the completion of certain milestones, or other contractual conditions, or upon the completion of a project. These retention agreements vary from project to project and could be outstanding for several months or years. Allowances for doubtful accounts have been determined through specific identification of amounts considered to be uncollectible and potential write-offs, plus a non-specific allowance for other amounts for which some potential loss has been determined to be probable based on current and past experience. Other than the U.S. government, no single client accounted for more than 10% of the Company’s outstanding receivables at December 31, 2016 and September 30, 2016. The Company sold trade receivables to financial institutions, of which $375.1 million and $356.3 million were outstanding as of December 31, 2016 and September 30, 2016, respectively. The Company does not retain financial or legal obligations for these receivables that would result in material losses. The Company’s ongoing involvement is limited to the remittance of customer payments to the financial institutions with respect to the sold trade receivables.

Joint Ventures and Variable Int

Joint Ventures and Variable Interest Entities	3 Months Ended
	Dec. 31, 2016
Joint Ventures and Variable Interest Entities
Joint Ventures and Variable Interest Entities	5. Joint Ventures and Variable Interest Entities The Company’s joint ventures provide architecture, engineering, program management, construction management and operations and maintenance services. Joint ventures, the combination of two or more partners, are generally formed for a specific project. Management of the joint venture is typically controlled by a joint venture executive committee, comprised of representatives from the joint venture partners. The joint venture executive committee normally provides management oversight and controls decisions which could have a significant impact on the joint venture. Some of the Company’s joint ventures have no employees and minimal operating expenses. For these joint ventures, the Company’s employees perform work for the joint venture, which is then billed to a third-party customer by the joint venture. These joint ventures function as pass through entities to bill the third-party customer. For consolidated joint ventures of this type, the Company records the entire amount of the services performed and the costs associated with these services, including the services provided by the other joint venture partners, in the Company’s result of operations. For certain of these joint ventures where a fee is added by an unconsolidated joint venture to client billings, the Company’s portion of that fee is recorded in equity in earnings of joint ventures. The Company also has joint ventures that have their own employees and operating expenses, and to which the Company generally makes a capital contribution. The Company accounts for these joint ventures either as consolidated entities or equity method investments based on the criteria further discussed below. The Company follows guidance on the consolidation of variable interest entities (VIEs) that requires companies to utilize a qualitative approach to determine whether it is the primary beneficiary of a VIE. The process for identifying the primary beneficiary of a VIE requires consideration of the factors that indicate a party has the power to direct the activities that most significantly impact the joint ventures’ economic performance, including powers granted to the joint venture’s program manager, powers contained in the joint venture governing board and, to a certain extent, a company’s economic interest in the joint venture. The Company analyzes its joint ventures and classifies them as either: · a VIE that must be consolidated because the Company is the primary beneficiary or the joint venture is not a VIE and the Company holds the majority voting interest with no significant participative rights available to the other partners; or · a VIE that does not require consolidation and is treated as an equity method investment because the Company is not the primary beneficiary or the joint venture is not a VIE and the Company does not hold the majority voting interest. As part of the above analysis, if it is determined that the Company has the power to direct the activities that most significantly impact the joint venture’s economic performance, the Company considers whether or not it has the obligation to absorb losses or rights to receive benefits of the VIE that could potentially be significant to the VIE. Contractually required support provided to the Company’s joint ventures is further discussed in Note 14. Summary of unaudited financial information of the consolidated joint ventures is as follows: December 31, September 30, (in millions) Current assets $ $ Non-current assets Total assets $ $ Current liabilities $ $ Non-current liabilities Total liabilities Total AECOM equity Noncontrolling interests Total owners’ equity Total liabilities and owners’ equity $ $ Total revenue of the consolidated joint ventures was $456.9 million and $485.2 million for the three months ended December 31, 2016 and 2015, respectively. The assets of the Company’s consolidated joint ventures are restricted for use only by the particular joint venture and are not available for the general operations of the Company. Summary of unaudited financial information of the unconsolidated joint ventures is as follows: December 31, September 30, (in millions) Current assets $ $ Non-current assets Total assets $ $ Current liabilities $ $ Non-current liabilities Total liabilities Joint ventures’ equity Total liabilities and joint ventures’ equity $ $ AECOM’s investment in joint ventures $ $ Three Months Ended December 31, December 31, (in millions) Revenue $ $ Cost of revenue Gross profit $ $ Net income $ $ Summary of AECOM’s equity in earnings of unconsolidated joint ventures is as follows: Three Months Ended December 31, December 31, (in millions) Pass through joint ventures $ $ Other joint ventures Total $ $

Pension Benefit Obligations

Pension Benefit Obligations	3 Months Ended
	Dec. 31, 2016
Pension Benefit Obligations
Pension Benefit Obligations	6. Pension Benefit Obligations In the U.S., the Company sponsors various qualified defined benefit pension plans. The legacy AECOM defined benefit plan covers substantially all permanent AECOM employees hired as of March 31, 1998. Benefits under these plans generally are based on the employee’s years of creditable service and compensation. The Company adopted an amendment to freeze benefits under the URS Federal Services, Inc. Employees Retirement Plan during the three months ended December 31, 2015, which resulted in the curtailment gain listed below. All U.S. defined benefit plans are closed to new participants and have frozen accruals. The Company also sponsors various non-qualified plans in the U.S.; all of these plans are frozen. Outside the U.S., the Company sponsors various pension plans, which are appropriate to the country in which the Company operates, some of which are government mandated. The following table details the components of net periodic cost for the Company’s pension plans for the three months ended December 31, 2016 and 2015: Three Months Ended December 31, 2016 December 31, 2015 U.S. Int’l U.S. Int’l (in millions) Components of net periodic (benefit) cost: Service costs $ $ $ $ Interest cost on projected benefit obligation Expected return on plan assets ) ) ) ) Amortization of prior service cost — ) — ) Amortization of net loss Curtailment gain recognized — — ) — Settlement (gain) loss recognized — — ) Net periodic (benefit) cost $ ) $ $ ) $ ) The total amounts of employer contributions paid for the three months ended December 31, 2016 were $2.6 million for U.S. plans and $5.7 million for non-U.S. plans. The expected remaining scheduled annual employer contributions for the fiscal year ending September 30, 2017 are $7.2 million for U.S. plans and $18.3 million for non-U.S. plans.

Debt

Debt	3 Months Ended
	Dec. 31, 2016
Debt
Debt	7. Debt Debt consisted of the following: December 31, September 30, (in millions) 2014 Credit Agreement $ $ 2014 Senior Notes URS Senior Notes Other debt Total debt Less: Current portion of debt and short-term borrowings ) ) Less: Unamortized debt issuance costs ) ) Long-term debt $ $ The following table presents, in millions, scheduled maturities of the Company’s debt as of December 31, 2016: Fiscal Year 2017 (nine months remaining) $ 2018 2019 2020 2021 Thereafter Total $ 2014 Credit Agreement The Company entered into a credit agreement (Credit Agreement) on October 17, 2014, as amended, consisting of (i) a term loan A facility in an aggregate principal amount of $1.925 billion, (ii) a term loan B facility in an aggregate principal amount of $0.76 billion, and (iii) a revolving credit facility in an aggregate principal amount of $1.05 billion. These facilities under the Credit Agreement may be increased by an additional amount of up to $500 million. The Credit Agreement’s term extends to September 29, 2021 with respect to the revolving credit facility and the term loan A facility and October 17, 2021 with respect to the term loan B facility. Some subsidiaries of the Company (Guarantors) have guaranteed the obligations of the borrowers under the Credit Agreement. The borrowers’ obligations under the Credit Agreement are secured by a lien on substantially all of the assets of the Company and the Guarantors pursuant to a security and pledge agreement (Security Agreement). The collateral under the Security Agreement is subject to release upon fulfillment of certain conditions specified in the Credit Agreement and Security Agreement. The Credit Agreement contains covenants that limit the Company’s ability and certain of its subsidiaries to, among other things: (i) create, incur, assume, or suffer to exist liens; (ii) incur or guarantee indebtedness; (iii) pay dividends or repurchase stock; (iv) enter into transactions with affiliates; (v) consummate asset sales, acquisitions or mergers; (vi) enter into certain types of burdensome agreements; or (vii) make investments. On July 1, 2015, the Credit Agreement was amended to revise the definition of “Consolidated EBITDA” to increase the allowance for acquisition and integration expenses related to the acquisition of URS. On December 22, 2015, the Credit Agreement was amended to further revise the definition of “Consolidated EBITDA” by further increasing the allowance for acquisition and integration expenses related to the acquisition of URS and to allow for an internal corporate restructuring primarily involving its international subsidiaries. On September 29, 2016, the Credit Agreement and the Security Agreement were amended to (1) lower the applicable interest rate margins for the term loan A and the revolving credit facilities, and lower the applicable letter of credit fees and commitment fees to the revised consolidated leverage levels; (2) extend the term of the term loan A and the revolving credit facility to September 29, 2021; (3) add a new delayed draw term loan A facility tranche in the amount of $185.0 million; (4) replace the then existing $500 million performance letter of credit facility with a $500 million basket to enter into secured letters of credit outside the Credit Agreement; and (5) revise certain covenants, including the Maximum Consolidated Leverage Ratio so that the step down from a 5.00 to a 4.75 leverage ratio is effective as of March 31, 2017 as well as the investment basket for its AECOM Capital business. Under the Credit Agreement, the Company is subject to a maximum consolidated leverage ratio and minimum consolidated interest coverage ratio at the end of each fiscal quarter. The Company’s Consolidated Leverage Ratio was 4.4 at December 31, 2016. The Company’s Consolidated Interest Coverage Ratio was 4.6 at December 31, 2016. As of December 31, 2016, the Company was in compliance with the covenants of the Credit Agreement. At December 31, 2016 and September 30, 2016, outstanding standby letters of credit totaled $51.4 million and $92.3 million, respectively, under the Company’s revolving credit facilities. As of December 31, 2016 and September 30, 2016, the Company had $862.1 million and $888.4 million, respectively, available under its revolving credit facility. 2014 Senior Notes On October 6, 2014, the Company completed a private placement offering of $800,000,000 aggregate principal amount of its 5.750% Senior Notes due 2022 (2022 Notes) and $800,000,000 aggregate principal amount of its 5.875% Senior Notes due 2024 (the 2024 Notes and, together with the 2022 Notes, the 2014 Senior Notes or Notes). As of December 31, 2016, the estimated fair value of its 2014 Senior Notes was approximately $842.0 million for the 2022 Notes and $848.0 million for the 2024 Notes. The fair value of the Notes as of December 31, 2016 was derived by taking the mid-point of the trading prices from an observable market input (Level 2) in the secondary bond market and multiplying it by the outstanding balance of its Notes. At any time prior to October 15, 2017, the Company may redeem all or part of the 2022 Notes, at a redemption price equal to 100% of their principal amount, plus a “make whole” premium as of the redemption date, and accrued and unpaid interest (subject to the rights of holders of record on the relevant record date to receive interest due on the relevant interest payment date). In addition, at any time prior to October 15, 2017, the Company may redeem up to 35% of the original aggregate principal amount of the 2022 Notes with the proceeds of one or more equity offerings, at a redemption price equal to 105.750%, plus accrued and unpaid interest. Furthermore, at any time on or after October 15, 2017, the Company may redeem the 2022 Notes, in whole or in part, at once or over time, at the specified redemption prices plus accrued and unpaid interest thereon to the redemption date. At any time prior to July 15, 2024, the Company may redeem on one or more occasions all or part of the 2024 Notes at a redemption price equal to the sum of (i) 100% of the principal amount thereof, plus (ii) a “make-whole” premium as of the date of the redemption, plus any accrued and unpaid interest to the date of redemption. In addition, on or after July 15, 2024, the 2024 Notes may be redeemed at a redemption price of 100% of the principal amount thereof, plus accrued and unpaid interest to the date of redemption. The indenture pursuant to which the 2014 Senior Notes were issued contains customary events of default, including, among other things, payment default, exchange default, failure to provide certain notices thereunder and certain provisions related to bankruptcy events. The indenture also contains customary negative covenants. In connection with the offering of the Notes, the Company and the Guarantors entered into a Registration Rights Agreement, dated as of October 6, 2014 to exchange the Notes for registered notes having terms substantially identical in all material respects (except certain transfer restrictions, registration rights and additional interest provisions relating to the Notes will not apply to the registered notes). The Company filed a registration statement on Form S-4 with the SEC on July 6, 2015 that was declared effective by the SEC on September 29, 2015. On November 2, 2015, the Company completed its exchange offer which exchanged the Notes for the registered notes, as well as all related guarantees. The Company was in compliance with the covenants relating to the Notes as of December 31, 2016. URS Senior Notes In connection with the URS acquisition, the Company assumed URS’s 3.85% Senior Notes due 2017 (2017 URS Senior Notes) and its 5.00% Senior Notes due 2022 (2022 URS Senior Notes), totaling $1.0 billion (URS Senior Notes). The URS acquisition triggered change in control provisions in the URS Senior Notes that allowed the holders of the URS Senior Notes to redeem their URS Senior Notes at a cash price equal to 101% of the principal amount and, accordingly, the Company redeemed $572.3 million of the URS Senior Notes on October 24, 2014. The URS Senior Notes are general unsecured senior obligations of AECOM Global II, LLC (as successor in interest to URS) and URS Fox US LP and are fully and unconditionally guaranteed on a joint-and-several basis by certain former URS domestic subsidiary guarantors. As of December 31, 2016, the estimated fair value of the URS Senior Notes was approximately $179.2 million for the 2017 URS Senior Notes and $251.0 million for the 2022 URS Senior Notes. The carrying value of the URS Senior Notes on the Company’s Consolidated Balance Sheets as of December 31, 2016 was $179.7 million for the 2017 URS Senior Notes and $247.6 million for the 2022 URS Senior Notes. The fair value of the URS Senior Notes as of December 31, 2016 was derived by taking the mid-point of the trading prices from an observable market input (Level 2) in the secondary bond market and multiplying it by the outstanding balance of the URS Senior Notes. As of December 31, 2016, the Company was in compliance with the covenants relating to the URS Senior Notes. Other Debt Other debt consists primarily of obligations under capital leases and loans, and unsecured credit facilities. The Company’s unsecured credit facilities are primarily used for standby letters of credit issued for payment of performance guarantees. At December 31, 2016 and September 30, 2016, these outstanding standby letters of credit totaled $413.5 million and $382.2 million, respectively. As of December 31, 2016, the Company had $534.9 million available under these unsecured credit facilities. Effective Interest Rate The Company’s average effective interest rate on its total debt, including the effects of the interest rate swap agreements, during the three months ended December 31, 2016 and 2015 was 4.2% and 4.2%, respectively.

Derivative Financial Instrument

Derivative Financial Instruments and Fair Value Measurements	3 Months Ended
	Dec. 31, 2016
Derivative Financial Instruments and Fair Value Measurements
Derivative Financial Instruments and Fair Value Measurements	8. Derivative Financial Instruments and Fair Value Measurements The Company uses certain interest rate derivative contracts to hedge interest rate exposures on the Company’s variable rate debt. The Company enters into foreign currency derivative contracts with financial institutions to reduce the risk that its cash flows and earnings will be adversely affected by foreign currency exchange rate fluctuations. The Company’s hedging program is not designated for trading or speculative purposes. The Company recognizes derivative instruments as either assets or liabilities on the accompanying consolidated balance sheets at fair value. The Company records changes in the fair value (i.e., gains or losses) of the derivatives that have been designated as accounting hedges in the accompanying consolidated statements of operations as cost of revenue, interest expense or to accumulated other comprehensive loss in the accompanying consolidated balance sheets. Cash Flow Hedges The Company uses interest rate swap agreements designated as cash flow hedges to fix the variable interest rates on portions of the Company’s debt. The Company also uses foreign currency contracts designated as cash flow hedges to hedge forecasted revenue transactions denominated in currencies other than the U.S. dollar. The Company initially reports any gain on the effective portion of a cash flow hedge as a component of accumulated other comprehensive loss. Depending on the type of cash flow hedge, the gain is subsequently reclassified to either interest expense when the interest expense on the variable rate debt is recognized, or to cost of revenue when the hedged revenues are recorded. If the hedged transaction becomes probable of not occurring, any gain or loss related to interest rate swap agreements or foreign currency contracts would be recognized in other income (expense). Further, the Company excludes the change in the time value of the foreign currency contracts from the assessment of hedge effectiveness. The Company records the premium paid or time value of a contract on the date of purchase as an asset. Thereafter, the Company recognizes any change to this time value in cost of revenue. The notional principal, fixed rates and related expiration dates of the Company’s outstanding interest rate swap agreements were as follows: December 31, 2016 Notional Amount Fixed Expiration $ % June 2018 % September 2018 September 30, 2016 Notional Amount Fixed Expiration $ % June 2018 % September 2018 The notional principal of outstanding foreign currency forward contracts to purchase Australian dollars (AUD) was AUD 44.1 million (or $32.9 million) and AUD 58.6 million (or $43.4 million) at December 31, 2016 and September 30, 2016, respectively. Other Foreign Currency Forward Contracts The Company uses foreign currency forward contracts which are not designated as accounting hedges to hedge intercompany transactions and other monetary assets or liabilities denominated in currencies other than the functional currency of a subsidiary. Gains and losses on these contracts were not material for the three months ended December 31, 2016 and 2015. Fair Value Measurements The Company’s non-pension financial assets and liabilities recorded at fair values relate to derivative instruments and were not material at December 31, 2016 or 2015. See Note 13 for accumulated balances and reporting period activities of derivatives related to reclassifications out of accumulated other comprehensive income or loss for the three months ended December 31, 2016 and 2015. Amounts recognized in accumulated other comprehensive loss from the Company’s foreign currency contracts were immaterial for all periods presented. Amounts reclassified from accumulated other comprehensive loss into income from the foreign currency contracts were immaterial for all periods presented. Additionally, there were no losses recognized in income due to amounts excluded from effectiveness testing from the Company’s interest rate swap agreements. During the year ended September 30, 2015, the Company entered into a contingent consideration arrangement in connection with a business acquisition. Under the arrangement, the Company agreed to pay cash to the sellers if certain financial performance thresholds are achieved in the future. The fair value of the contingent consideration liability, net of amounts paid, as of December 31, 2016 and September 30, 2016 was $22 million and $39 million, respectively, which decreased due to payments during the three months ended December 31, 2016. This liability is a Level 3 fair value measurement recorded within other accrued liabilities, and was valued based on estimated future net cash flows. After the initial recording of this liability as a part of purchase accounting, there were no material subsequent changes in fair value through December 31, 2016. Any future changes in the fair value of this contingent consideration liability will be recognized in earnings during the applicable period.

Share-based Payments

Share-based Payments	3 Months Ended
	Dec. 31, 2016
Share-Based Payments
Share-Based Payments	9. Share-based Payments The fair value of the Company’s employee stock option awards is estimated on the date of grant. The expected term of awards granted represents the period of time the awards are expected to be outstanding. The risk-free interest rate is based on U.S. Treasury bond rates with maturities equal to the expected term of the option on the grant date. The Company uses historical data as a basis to estimate the probability of forfeitures. Stock option activity for the three months ended December 31 was as follows: 2016 2015 Shares of stock Weighted average Shares of stock Weighted average (in millions) (in millions) Outstanding at September 30 $ $ Options granted — — — — Options exercised ) ) Options forfeited or expired — — — — Outstanding at December 31 Vested and expected to vest in the future as of December 31 $ $ The Company grants stock units to employees under its Performance Earnings Program (PEP), whereby units are earned and issued dependent upon meeting established performance or market objectives and vest over a three-year service period. Additionally, the Company issues restricted stock units to employees which are earned based on service conditions. The grant date fair value of PEP awards and restricted stock unit awards is that day’s closing market price of the Company’s common stock. The weighted average grant date fair value of PEP awards were $38.16 and $29.92 during the three months ended December 31, 2016 and 2015, respectively. The weighted average grant date fair value of restricted stock unit awards were $38.08 and $29.92 during the three months ended December 31, 2016 and 2015, respectively. Total compensation expense related to share-based payments including stock options was $21.3 million and $21.5 million during the three months ended December 31, 2016 and 2015, respectively. Unrecognized compensation expense related to total share-based payments outstanding as of December 31, 2016 and September 30, 2016 was $149.8 million and $91.8 million, respectively, to be recognized on a straight-line basis over the awards’ respective vesting periods which are generally three years.

Income Taxes

Income Taxes	3 Months Ended
	Dec. 31, 2016
Income Taxes
Income Taxes	10. Income Taxes The Company’s effective tax rate from continuing operations was 27.4% and 62.9% for the three months ended December 31, 2016 and 2015, respectively. The most significant items contributing to the difference between the statutory U.S. federal income tax rate of 35% and the Company’s effective tax rate for the three month period ended December 31, 2016 were a $4.1 million benefit of the effect of the favorable tax impacts of changes in the geographical mix of income and a benefit related to non-controlling interests partially offset by an increase in valuation allowances regarding the realizability of certain current year foreign losses. These items are expected to have a continuing impact on the effective tax rate for the remainder of the fiscal year. The Company is utilizing the annual effective tax rate method under ASC 740 to compute its interim tax provision. The Company’s effective tax rate fluctuates from quarter to quarter due to various factors including the change in the mix of global income and expenses, outcomes of administrative audits, changes in the assessment of valuation allowances due to management’s consideration of new positive or negative evidence during the quarter, and changes in enacted tax laws and their interpretations which upon enactment include possible tax reform contemplated in the United States and other jurisdictions around the world arising from the result of the base erosion and profit shifting project undertaken by the Organisation for Economic Co-operation Development which, if finalized and adopted, could have a material impact on the Company’s income tax expense and deferred tax balances. The Company believes the outcomes which are reasonably possible within the next twelve months, including lapses in statutes of limitations, will not result in a material change in the liability for uncertain tax positions. Generally, the Company does not provide for U.S. taxes or foreign withholding taxes on gross book-tax differences in its non-U.S. subsidiaries because such basis differences of approximately $1.6 billion are able to and intended to be reinvested indefinitely. If these basis differences were distributed, foreign tax credits could become available under current law to partially or fully reduce the resulting U.S. income tax liability. There may also be additional U.S. or foreign income tax liability upon repatriation, although the calculation of such additional taxes is not practicable. The Company has a deferred tax liability in the amount of $113.2 million relating to certain foreign subsidiaries for which the undistributed earnings are not intended to be reinvested indefinitely.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Dec. 31, 2016
Earnings Per Share
Earnings Per Share	11. Earnings Per Share Basic earnings per share (EPS) excludes dilution and is computed by dividing net income attributable to AECOM by the weighted average number of common shares outstanding for the period. Diluted EPS is computed by dividing net income attributable to AECOM by the weighted average number of common shares outstanding and potential common shares for the period. The Company includes as potential common shares the weighted average dilutive effects of equity awards using the treasury stock method. For the three months ended December 31, 2016, equity awards excluded from the calculation of potential common shares were not significant. The computation of diluted loss per share for the three months ended December 31, 2015 excluded 1.2 million of potential common shares due to their antidilutive effect. The following table sets forth a reconciliation of the denominators for basic and diluted earnings per share: Three Months Ended December 31, December 31, (in millions) Denominator for basic earnings per share Potential common shares — Denominator for diluted earnings per share

Other Financial Information

Other Financial Information	3 Months Ended
	Dec. 31, 2016
Other Financial Information
Other Financial Information	12. Other Financial Information Accrued expenses and other current liabilities consist of the following: December 31, September 30, (in millions) Accrued salaries and benefits $ $ Accrued contract costs Other accrued expenses $ $ Accrued contract costs above include balances related to professional liability accruals of $574.5 million and $611.0 million as of December 31, 2016 and September 30, 2016, respectively. The remaining accrued contract costs primarily relate to costs for services provided by subcontractors and other non-employees. Liabilities recorded related to accrued contract losses were not material as of December 31, 2016 and September 30, 2016. The Company did not have material revisions to estimates for contracts where revenue is recognized using the percentage-of-completion method during the three months ended December 31, 2016. During the twelve months ended September 30, 2016, the Company recorded revenue related to the expected accelerated recovery of a pension related entitlement from the federal government of approximately $50 million, which is included in accounts receivable-net at December 31, 2016. The actual amount of reimbursement may vary from the Company’s expectation.

Reclassifications out of Accumu

Reclassifications out of Accumulated Other Comprehensive Loss	3 Months Ended
	Dec. 31, 2016
Reclassifications out of Accumulated Other Comprehensive Loss
Reclassifications out of Accumulated Other Comprehensive Loss	13. Reclassifications out of Accumulated Other Comprehensive Loss The accumulated balances and reporting period activities for the three months ended December 31, 2016 and 2015 related to reclassifications out of accumulated other comprehensive loss are summarized as follows (in millions): Pension Foreign Loss on Accumulated Balances at September 30, 2016 $ ) $ ) $ ) $ ) Other comprehensive (loss) income before reclassification ) ) Amounts reclassified from accumulated other comprehensive loss: Actuarial losses, net of tax — — Cash flow hedge losses, net of tax — — Balances at December 31, 2016 $ ) $ ) $ ) $ ) Pension Foreign Loss on Accumulated Balances at September 30, 2015 $ ) $ ) $ ) $ ) Other comprehensive income (loss) before reclassification ) ) ) Amounts reclassified from accumulated other comprehensive loss: Actuarial losses, net of tax — — Cash flow hedge losses, net of tax — — Balances at December 31, 2015 $ ) $ ) $ ) $ )

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Dec. 31, 2016
Commitments and Contingencies
Commitments and Contingencies	14. Commitments and Contingencies The Company records amounts representing its probable estimated liabilities relating to claims, guarantees, litigation, audits and investigations. The Company relies in part on qualified actuaries to assist it in determining the level of reserves to establish for insurance-related claims that are known and have been asserted against it, and for insurance-related claims that are believed to have been incurred based on actuarial analysis, but have not yet been reported to the Company’s claims administrators as of the respective balance sheet dates. The Company includes any adjustments to such insurance reserves in its consolidated results of operations. The Company’s reasonably possible loss disclosures are presented on a gross basis prior to the consideration of insurance recoveries. The Company does not record gain contingencies until they are realized. In the ordinary course of business, the Company may not be aware that it or its affiliates are under investigation and may not be aware of whether or not a known investigation has been concluded. In the ordinary course of business, the Company may enter into various arrangements providing financial or performance assurance to clients, lenders, or partners. Such arrangements include standby letters of credit, surety bonds, and corporate guarantees to support the creditworthiness or the project execution commitments of its affiliates, partnerships and joint ventures. Performance arrangements typically have various expiration dates ranging from the completion of the project contract and extending beyond contract completion in certain circumstances such as for warranties. The Company may also guarantee that a project, when complete, will achieve specified performance standards. If the project subsequently fails to meet guaranteed performance standards, the Company may incur additional costs, pay liquidated damages or be held responsible for the costs incurred by the client to achieve the required performance standards. The potential payment amount of an outstanding performance arrangement is typically the remaining cost of work to be performed by or on behalf of third parties. Generally, under joint venture arrangements, if a partner is financially unable to complete its share of the contract, the other partner(s) may be required to complete those activities. At December 31, 2016 and September 30, 2016, the Company was contingently liable in the amount of approximately $464.9 million and $474.5 million, respectively, in issued standby letters of credit and $3.6 billion and $3.3 billion, respectively, in issued surety bonds primarily to support project execution. In the ordinary course of business, the Company enters into various agreements providing financial or performance assurances to clients on behalf of certain unconsolidated partnerships, joint ventures and other jointly executed contracts. These agreements are entered into primarily to support the project execution commitments of these entities. In addition, in connection with the investment activities of AECOM Capital, the Company provides guarantees of certain obligations, including guarantees for completion of projects, repayment of debt, environmental indemnity obligations and acts of willful misconduct. DOE Deactivation, Demolition, and Removal Project Washington Group International, an Ohio company (WGI Ohio), an affiliate of URS, executed a cost-reimbursable task order with the Department of Energy (DOE) in 2007 to provide deactivation, demolition and removal services at a New York State project site that, during 2010, experienced contamination and performance issues and remains uncompleted. In February 2011, WGI Ohio and the DOE executed a Task Order Modification that changed some cost-reimbursable contract provisions to at-risk. The Task Order Modification, including subsequent amendments, requires the DOE to pay all project costs up to $106 million, requires WGI Ohio and the DOE to equally share in all project costs incurred from $106 million to $146 million, and requires WGI Ohio to pay all project costs exceeding $146 million. Due to unanticipated requirements and permitting delays by federal and state agencies, as well as delays and related ground stabilization activities caused by Hurricane Irene in 2011, WGI Ohio has been required to perform work outside the scope of the Task Order Modification. In December 2014, WGI Ohio submitted claims against the DOE pursuant to the Contracts Disputes Acts seeking recovery of $103 million, including additional fees on changed work scope. Due to significant delays and uncertainties about responsibilities for the scope of remaining work, final project completion costs and other associated costs may exceed $100 million over the contracted amounts. In addition, WGI Ohio assets and liabilities, including the value of the above costs and claims, were also measured at their fair value on October 17, 2014, the date AECOM acquired WGI Ohio’s parent company, see Note 3, which has been reevaluated to account for developments pertaining to this matter. WGI Ohio can provide no certainty that it will recover the DOE claims and fees submitted in December 2014, as well as any other project costs after December 2014 that WGI Ohio may be obligated to incur including the remaining project completion costs, which could have a material adverse effect on the Company’s results of operations. DOE Hanford Nuclear Reservation URS Energy and Construction, Washington River Protection Solutions LLC and Washington Closure Hanford LLC (collectively the URS Affiliates) perform services under multiple contracts (including under the Waste Treatment Plant contract, the Tank Farm contract and the River Corridor contract) at the DOE’s Hanford nuclear reservation that have been subject to various government investigations or litigation matters: · Waste Treatment Plant government investigation and litigation: The federal government has conducted an investigation into the Company’s affiliate, URS Energy & Construction, a subcontractor on the Waste Treatment Plant, regarding contractual compliance and various technical issues in the design, development and construction of the Waste Treatment Plant. On November 23, 2016, a qui tam civil lawsuit entitled United States ex rel. Brunson, Busche, and Tamosaitis v. Bechtel National, Inc., Bechtel Corp., URS Corp., and URS Energy & Construction was unsealed against Bechtel and URS Energy & Construction in the U.S. District Court for the Eastern District of Washington alleging false statements and claims related to the design, development and construction of the Waste Treatment Plant from January 2001 until June 2013, a period which occurred before AECOM’s acquisition of URS Corporation and its affiliates in October 17, 2014. URS Energy & Construction is a subcontractor to Bechtel, the prime contractor of the Waste Treatment Plant contract. On November 22, 2016, Bechtel and URS Energy & Construction settled with the federal government to fully resolve the dispute without admitting liability, with URS Energy & Construction agreeing to pay $57.5 million (plus accrued interest and the relators attorneys’ fees). As a result of this settlement, the Company recorded a net benefit of approximately $35 million, which is reflected as a reduction in cost of revenue. · Tank Farms government investigation: The federal government conducted an investigation of the Company’s joint venture, Washington River Protection Solutions LLC, regarding the failure to comply with time keeping and internal audit requirements. On January 23, 2017, Washington River Protection Solutions LLC settled this matter without admitting liability for $5.3 million, which did not have a material impact to the financial statements. · River Corridor litigation: The federal government has partially intervened with a relator in a qui tam complaint filed in the Eastern District of Washington in December 2013 against the Company’s joint venture, Washington Closure Hanford LLC, alleging that its contracting procedures under the Small Business Act violated the False Claims Act. On October 2015, Washington Closure Hanford LLC’s motion to dismiss the claim was partially denied. Prior to the commencement of discovery, the matter was stayed pending the United States Supreme Court’s decision in Universal Health Services v. United States ex rel. Escobar, which was rendered in June 2016. The matter resumed in November of 2016, and is now in discovery. The URS Affiliates periodically reevaluate the estimated fair value of liabilities assumed from URS Corporation, including the legal related liabilities described above and in Note 3, to account for developments related to the Hanford matters. Washington Closure Hanford LLC disputes the River Corridor matter and intends to continue to defend this ongoing matter vigorously. Washington Closure Hanford LLC cannot provide assurances that it will be successful in its defense efforts. The potential range of loss and any difference from the current accrual cannot be reasonably estimated at this time, primarily because the matter involves complex and unique regulatory issues; the matter contains multiple parties; the matter involves conflicts of law between local, state and federal regulations; there is substantial uncertainty regarding any alleged damages; and the matter is in an intermediary stage of litigation. Securities Litigation Matter On September 1, 2016, an AECOM stockholder, filed a securities class action complaint in the United States District Court for the Central District of California alleging that the Company and its senior executives made materially false and misleading statements in violation of the federal securities laws. The Company believes the complaint is without merit and intends to vigorously defend against it. While no assurance can be given as to the ultimate outcome of this action, the Company believes that the final resolution of this action will not have a material adverse effect on its consolidated financial position, results of operations, cash flows or ability to conduct business. World Bank Review - Asia The World Bank has conducted inspections of the accounts and records of two of our affiliates in connection with World Bank-financed contracts awarded to those affiliates in Asia. The affiliates have provided information and cooperation to the World Bank and are engaged in discussions with the World Bank to resolve issues arising out of the inspections. No assurance can be given as to the outcome of this matter, and it could result in sanctions against our affiliates.

Reportable Segments

Reportable Segments	3 Months Ended
	Dec. 31, 2016
Reportable Segments
Reportable Segments	15. Reportable Segments The Company’s operations are organized into three reportable segments: Design and Consulting Services (DCS), Construction Services (CS), and Management Services (MS). The Company’s DCS reportable segment delivers planning, consulting, architectural, environmental, and engineering design services to commercial and government clients worldwide. The Company’s CS reportable segment provides construction services primarily in the Americas. The Company’s MS reportable segment provides program and facilities management and maintenance, training, logistics, consulting, and technical assistance and systems integration services, primarily for agencies of the U.S. government. These reportable segments are organized by the types of services provided, the differing specialized needs of the respective clients, and how the Company manages its business. The Company has aggregated various operating segments into its reportable segments based on their similar characteristics, including similar long term financial performance, the nature of services provided, internal processes for delivering those services, and types of customers. During the first quarter of fiscal year 2017, an operation and maintenance related entity previously reported within the CS segment was realigned within the MS segment to reflect present management oversight. Accordingly, approximately $33 million of revenue and $32 million of cost of revenue was reclassified for the quarter ended December 31, 2015 to conform to the current period presentation. The following tables set forth summarized financial information concerning the Company’s reportable segments: Reportable Segments: Design and Construction Management Corporate Total (in millions) Three Months Ended December 31, 2016: Revenue $ $ $ $ — $ Gross profit — Equity in earnings of joint ventures — General and administrative expenses — — — ) ) Acquisition and integration expenses — — — ) ) Operating income ) Gross profit as a % of revenue % % % — % Three Months Ended December 31, 2015: Revenue $ $ $ $ — $ Gross profit — Equity in earnings of joint ventures — General and administrative expenses — — — ) ) Acquisition and integration expenses — — — ) ) Loss on disposal activities — ) — — ) Operating income ) ) Gross profit as a % of revenue % % % — % Reportable Segments: Total assets December 31, 2016 $ $ $ $ $ September 30, 2016

Condensed Consolidating Financi

Condensed Consolidating Financial Information	3 Months Ended
	Dec. 31, 2016
Condensed Consolidating Financial Information
Condensed Consolidating Financial Information	16. Condensed Consolidating Financial Information As discussed in Note 7, on October 6, 2014, AECOM issued $800.0 million aggregate principal amount of its 2022 Notes and $800.0 million aggregate principal amount of its 2024 Notes in a transaction exempt from the registration requirements of the Securities Act of 1933, as amended (the Securities Act). AECOM filed a Registration Statement on Form S-4 relating to the offer to exchange the Notes for new 5.75% Senior Notes due 2022 and 5.875% Senior Notes due 2024 that was declared effective by the SEC on September 29, 2015. The Notes are fully and unconditionally guaranteed on a joint and several basis by certain of AECOM’s directly and indirectly 100% owned subsidiaries (the Subsidiary Guarantors). Other than customary restrictions imposed by applicable statutes, there are no restrictions on the ability of the Subsidiary Guarantors to transfer funds to AECOM in the form of cash dividends, loans or advances. In connection with the registration of the exchange offer, AECOM became subject to the requirements of Rule 3-10 of Regulation S-X regarding financial statements of guarantors and issuers of guaranteed securities registered or being registered with the Securities and Exchange Commission. The following condensed consolidating financial information, which is presented for AECOM, the Subsidiary Guarantors on a combined basis and AECOM’s non-guarantor subsidiaries on a combined basis, is provided to satisfy the disclosure requirements of Rule 3-10 of Regulation S-X. Condensed Consolidating Balance Sheets (unaudited — in millions) December 31, 2016 Parent Guarantor Non- Eliminations Total ASSETS CURRENT ASSETS: Total cash and cash equivalents $ $ $ $ — $ Accounts receivable—net — — Intercompany receivable ) — Prepaid expenses and other current assets — Income taxes receivable — TOTAL CURRENT ASSETS ) PROPERTY AND EQUIPMENT—NET — DEFERRED TAX ASSETS—NET — ) INVESTMENTS IN CONSOLIDATED SUBSIDIARIES ) — INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES — GOODWILL — — INTANGIBLE ASSETS—NET — — OTHER NON-CURRENT ASSETS — TOTAL ASSETS $ $ $ $ ) $ LIABILITIES AND STOCKHOLDERS’ EQUITY CURRENT LIABILITIES: Short-term debt $ $ $ $ — $ Accounts payable — Accrued expenses and other current liabilities — Accrued taxes payable — — Intercompany payable ) — Billings in excess of costs on uncompleted contracts — — Current portion of long-term debt — TOTAL CURRENT LIABILITIES ) OTHER LONG-TERM LIABILITIES — DEFERRED TAX LIABILITY — NET — — ) NOTE PAYABLE INTERCOMPANY—NON CURRENT — — ) — LONG-TERM DEBT — TOTAL LIABILITIES ) TOTAL AECOM STOCKHOLDERS’ EQUITY ) Noncontrolling interests — — — TOTAL STOCKHOLDERS’ EQUITY ) TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ $ $ $ ) $ Condensed Consolidating Balance Sheets (unaudited - in millions) September 30, 2016 Parent Guarantor Non- Eliminations Total ASSETS CURRENT ASSETS: Total cash and cash equivalents $ $ $ $ — $ Accounts receivable—net — — Intercompany receivable ) — Prepaid expenses and other current assets — Income taxes receivable — — TOTAL CURRENT ASSETS ) PROPERTY AND EQUIPMENT—NET — DEFERRED TAX ASSETS—NET — ) INVESTMENTS IN CONSOLIDATED SUBSIDIARIES ) — INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES — GOODWILL — — INTANGIBLE ASSETS—NET — — OTHER NON-CURRENT ASSETS — TOTAL ASSETS $ $ $ $ ) $ LIABILITIES AND STOCKHOLDERS’ EQUITY CURRENT LIABILITIES: Short-term debt $ $ $ $ — $ Accounts payable — Accrued expenses and other current liabilities — Accrued taxes payable — — — Intercompany payable ) — Billings in excess of costs on uncompleted contracts — — Current portion of long-term debt — TOTAL CURRENT LIABILITIES ) OTHER LONG-TERM LIABILITIES — DEFERRED TAX LIABILITY — NET — — ) NOTE PAYABLE INTERCOMPANY—NON CURRENT — — ) — LONG-TERM DEBT — TOTAL LIABILITIES ) TOTAL AECOM STOCKHOLDERS’ EQUITY ) Noncontrolling interests — — — TOTAL STOCKHOLDERS’ EQUITY ) TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ $ $ $ ) $ Condensed Consolidating Statements of Operations (unaudited - in millions) For the three months ended December 31, 2016 Parent Guarantor Non-Guarantor Eliminations Total Revenue $ — $ $ $ ) $ Cost of Revenue — ) Gross Profit — — Equity in earnings from subsidiaries ) ) — Equity in earnings of joint ventures — — General and administrative expenses ) — — — ) Acquisition and integration expenses ) — — — ) Income from operations ) Other income ) Interest expense ) ) ) ) Income before income tax (benefit) expense ) Income tax (benefit) expense ) — Net income ) Noncontrolling interest in income of consolidated subsidiaries, net of tax — — ) — ) Net income attributable to AECOM $ $ $ $ ) $ For the three months ended December 31, 2015 Parent Guarantor Non-Guarantor Eliminations Total Revenue $ — $ $ $ ) $ Cost of Revenue — ) Gross Profit — — Equity in earnings from subsidiaries ) ) — Equity in earnings of joint ventures — — General and administrative expenses ) ) — — ) Acquisition and integration expenses ) — — — ) Loss on disposal activities — — ) — ) (Loss) income from operations ) ) Other income ) Interest expense ) ) ) ) (Loss) income before income tax (benefit) expense ) ) ) Income tax (benefit) expense ) ) Net (loss) income ) ) ) Noncontrolling interest in income of consolidated subsidiaries, net of tax — — ) — ) Net (loss) income attributable to AECOM $ ) $ $ $ ) $ ) Consolidating Statements of Comprehensive Income (Loss) (unaudited - in millions) For the three months ended December 31, 2016 Parent Guarantor Non-Guarantor Eliminations Total Net income $ $ $ $ ) $ Other comprehensive income (loss), net of tax: Net unrealized gain (loss) on derivatives, net of tax — ) — Foreign currency translation adjustments — — ) — ) Pension adjustments, net of tax — — Other comprehensive income (loss), net of tax — ) — ) Comprehensive income (loss), net of tax ) ) Noncontrolling interests in comprehensive income of consolidated subsidiaries, net of tax — — ) — ) Comprehensive income (loss) attributable to AECOM, net of tax $ $ $ ) $ ) $ ) For the three months ended December 31, 2015 Parent Guarantor Non-Guarantor Eliminations Total Net (loss) income $ ) $ $ $ ) $ ) Other comprehensive income (loss), net of tax: Net unrealized gain on derivatives, net of tax — — Foreign currency translation adjustments — — ) — ) Pension adjustments, net of tax ) — Other comprehensive income (loss), net of tax ) ) — ) Comprehensive loss, net of tax ) ) ) ) ) Noncontrolling interests in comprehensive income of consolidated subsidiaries, net of tax — — ) — ) Comprehensive loss attributable to AECOM, net of tax $ ) $ ) $ ) $ ) $ ) Condensed Consolidating Statements of Cash Flows (unaudited - in millions) For the three months ended December 31, 2016 Parent Guarantor Non-Guarantor Eliminations Total CASH FLOWS FROM OPERATING ACTIVITIES $ ) $ $ $ — $ CASH FLOWS FROM INVESTING ACTIVITIES: Net investment in unconsolidated joint ventures — ) ) — ) Net purchase of investments — — — Payments for capital expenditures, net of disposals ) ) ) — ) Net investment in intercompany notes ) ) ) — Other intercompany investing activities — ) — Net cash provided by (used in) investing activities ) ) ) ) CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from borrowings under credit agreements — — Repayments of borrowings under credit agreements ) ) ) — ) Proceeds from issuance of common stock — — — Proceeds from exercise of stock options — — — Payments to repurchase common stock ) — — — ) Net distributions to noncontrolling interests — — ) — ) Other financing activities ) ) — ) Net borrowings on intercompany notes — ) — Other intercompany financing activities — ) ) — Net cash provided by (used in) financing activities ) ) EFFECT OF EXCHANGE RATE CHANGES ON CASH — — ) — ) NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS ) — CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR — CASH AND CASH EQUIVALENTS AT END OF YEAR $ $ $ $ — $ For the three months ended December 31, 2015 Parent Guarantor Non-Guarantor Eliminations Total CASH FLOWS FROM OPERATING ACTIVITIES $ ) $ $ $ — $ CASH FLOWS FROM INVESTING ACTIVITIES: Proceeds from disposal of businesses and property — — — Net investment in unconsolidated joint ventures — ) ) — ) Net sales of investments — — — Payments for capital expenditures, net of disposals ) ) — ) Receipts from intercompany notes receivable — ) — Other intercompany investing activities — ) — Net cash used in investing activities ) CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from borrowings under credit agreements — — Repayments of borrowings under credit agreements ) ) ) — ) Cash paid for debt and equity issuance costs ) — — — ) Proceeds from issuance of common stock — — — Proceeds from exercise of stock options — — — Payments to repurchase common stock ) — — — ) Excess tax benefit from share-based payment — — — Net distributions to noncontrolling interests — — ) — ) Other financing activities ) ) — ) Intercompany notes repayments — — ) — Other intercompany financing activities — ) ) — Net cash used in financing activities ) ) ) ) EFFECT OF EXCHANGE RATE CHANGES ON CASH — — ) — ) NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS ) — ) CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR — CASH AND CASH EQUIVALENTS AT END OF YEAR $ $ $ $ — $

Business Acquisitions, Goodwi23

Business Acquisitions, Goodwill and Intangible Assets (Tables)	3 Months Ended
	Dec. 31, 2016
Business Acquisitions, Goodwill and Intangible Assets
Schedule of acquisition and integration expenses	`Acquisition and integration expenses, relating to the acquisition of URS, in the accompanying consolidated statements of operations comprised of the following (in millions): Three months ended Dec 31, 2016 2015 Severance and personnel costs $ $ Professional service, real estate-related, and other expenses Total $ $
Schedule of changes in the carrying value of goodwill by reportable segment	September 30, Post- Foreign Disposed December 31, (in millions) Design and Consulting Services $ $ — $ ) $ — $ Construction Services — ) — Management Services — ) — Total $ $ — $ ) $ — $
Schedule of finite-lived intangible assets by major class	December 31, 2016 September 30, 2016 Gross Accumulated Intangible Gross Accumulated Intangible Amortization (in millions) (years) Backlog and customer relationships $ $ ) $ $ $ ) $ 1 – 11 Trademark / tradename ) — ) — 0.3 - 2 Total $ $ ) $ $ $ ) $
Schedule of estimated future amortization expense of intangible assets	Fiscal Year (in millions) 2017 (nine months remaining) $ 2018 2019 2020 2021 Thereafter Total $

Accounts Receivable - Net (Tabl

Accounts Receivable - Net (Tables)	3 Months Ended
	Dec. 31, 2016
Accounts Receivable - Net
Schedule of net accounts receivable	December 31, September 30, (in millions) Billed $ $ Unbilled Contract retentions Total accounts receivable—gross Allowance for doubtful accounts ) ) Total accounts receivable—net $ $

Joint Ventures and Variable I25

Joint Ventures and Variable Interest Entities (Tables)	3 Months Ended
	Dec. 31, 2016
Joint Ventures and Variable Interest Entities
Summary of unaudited financial information of the consolidated joint ventures	December 31, September 30, (in millions) Current assets $ $ Non-current assets Total assets $ $ Current liabilities $ $ Non-current liabilities Total liabilities Total AECOM equity Noncontrolling interests Total owners’ equity Total liabilities and owners’ equity $ $
Summary of unaudited financial information of the unconsolidated joint ventures	December 31, September 30, (in millions) Current assets $ $ Non-current assets Total assets $ $ Current liabilities $ $ Non-current liabilities Total liabilities Joint ventures’ equity Total liabilities and joint ventures’ equity $ $ AECOM’s investment in joint ventures $ $ Three Months Ended December 31, December 31, (in millions) Revenue $ $ Cost of revenue Gross profit $ $ Net income $ $
Summary of AECOM's equity in earnings of unconsolidated joint ventures	Three Months Ended December 31, December 31, (in millions) Pass through joint ventures $ $ Other joint ventures Total $ $

Pension Benefit Obligations (Ta

Pension Benefit Obligations (Tables)	3 Months Ended
	Dec. 31, 2016
Pension Benefit Obligations
Components of net periodic cost for the Company's pension and post-retirement plans	Three Months Ended December 31, 2016 December 31, 2015 U.S. Int’l U.S. Int’l (in millions) Components of net periodic (benefit) cost: Service costs $ $ $ $ Interest cost on projected benefit obligation Expected return on plan assets ) ) ) ) Amortization of prior service cost — ) — ) Amortization of net loss Curtailment gain recognized — — ) — Settlement (gain) loss recognized — — ) Net periodic (benefit) cost $ ) $ $ ) $ )

Debt (Tables)

Debt (Tables)	3 Months Ended
	Dec. 31, 2016
Debt
Schedule of debt	December 31, September 30, (in millions) 2014 Credit Agreement $ $ 2014 Senior Notes URS Senior Notes Other debt Total debt Less: Current portion of debt and short-term borrowings ) ) Less: Unamortized debt issuance costs ) ) Long-term debt $ $
Schedule of maturities of debt	The following table presents, in millions, scheduled maturities of the Company’s debt as of December 31, 2016: Fiscal Year 2017 (nine months remaining) $ 2018 2019 2020 2021 Thereafter Total $

Derivative Financial Instrume28

Derivative Financial Instruments and Fair Value Measurements (Tables)	3 Months Ended
	Dec. 31, 2016
Derivative Financial Instruments and Fair Value Measurements
Notional principle, fixed rates and related expiration dates of outstanding interest rate swap agreements	December 31, 2016 Notional Amount Fixed Expiration $ % June 2018 % September 2018 September 30, 2016 Notional Amount Fixed Expiration $ % June 2018 % September 2018

Share-Based Payments (Tables)

Share-Based Payments (Tables)	3 Months Ended
	Dec. 31, 2016
Share-Based Payments
Schedule of stock option activity	2016 2015 Shares of stock Weighted average Shares of stock Weighted average (in millions) (in millions) Outstanding at September 30 $ $ Options granted — — — — Options exercised ) ) Options forfeited or expired — — — — Outstanding at December 31 Vested and expected to vest in the future as of December 31 $ $

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Dec. 31, 2016
Earnings Per Share
Reconciliation of the denominators for basic and diluted EPS	Three Months Ended December 31, December 31, (in millions) Denominator for basic earnings per share Potential common shares — Denominator for diluted earnings per share

Other Financial Information (Ta

Other Financial Information (Tables)	3 Months Ended
	Dec. 31, 2016
Other Financial Information
Schedule of accrued expenses and other current liabilities	December 31, September 30, (in millions) Accrued salaries and benefits $ $ Accrued contract costs Other accrued expenses $ $

Reclassifications out of Accu32

Reclassifications out of Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Dec. 31, 2016
Reclassifications out of Accumulated Other Comprehensive Loss
Schedule of accumulated balances and reporting period activities related to reclassifications out of accumulated other comprehensive loss	The accumulated balances and reporting period activities for the three months ended December 31, 2016 and 2015 related to reclassifications out of accumulated other comprehensive loss are summarized as follows (in millions): Pension Foreign Loss on Accumulated Balances at September 30, 2016 $ ) $ ) $ ) $ ) Other comprehensive (loss) income before reclassification ) ) Amounts reclassified from accumulated other comprehensive loss: Actuarial losses, net of tax — — Cash flow hedge losses, net of tax — — Balances at December 31, 2016 $ ) $ ) $ ) $ ) Pension Foreign Loss on Accumulated Balances at September 30, 2015 $ ) $ ) $ ) $ ) Other comprehensive income (loss) before reclassification ) ) ) Amounts reclassified from accumulated other comprehensive loss: Actuarial losses, net of tax — — Cash flow hedge losses, net of tax — — Balances at December 31, 2015 $ ) $ ) $ ) $ )

Reportable Segments (Tables)

Reportable Segments (Tables)	3 Months Ended
	Dec. 31, 2016
Reportable Segments
Summarized financial information concerning the Company's reportable segments	Reportable Segments: Design and Construction Management Corporate Total (in millions) Three Months Ended December 31, 2016: Revenue $ $ $ $ — $ Gross profit — Equity in earnings of joint ventures — General and administrative expenses — — — ) ) Acquisition and integration expenses — — — ) ) Operating income ) Gross profit as a % of revenue % % % — % Three Months Ended December 31, 2015: Revenue $ $ $ $ — $ Gross profit — Equity in earnings of joint ventures — General and administrative expenses — — — ) ) Acquisition and integration expenses — — — ) ) Loss on disposal activities — ) — — ) Operating income ) ) Gross profit as a % of revenue % % % — % Reportable Segments: Total assets December 31, 2016 $ $ $ $ $ September 30, 2016

Condensed Consolidating Finan34

Condensed Consolidating Financial Information (Tables)	3 Months Ended
	Dec. 31, 2016
Condensed Consolidating Financial Information
Schedule of Condensed Consolidating Balance Sheets	Condensed Consolidating Balance Sheets (unaudited — in millions) December 31, 2016 Parent Guarantor Non- Eliminations Total ASSETS CURRENT ASSETS: Total cash and cash equivalents $ $ $ $ — $ Accounts receivable—net — — Intercompany receivable ) — Prepaid expenses and other current assets — Income taxes receivable — TOTAL CURRENT ASSETS ) PROPERTY AND EQUIPMENT—NET — DEFERRED TAX ASSETS—NET — ) INVESTMENTS IN CONSOLIDATED SUBSIDIARIES ) — INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES — GOODWILL — — INTANGIBLE ASSETS—NET — — OTHER NON-CURRENT ASSETS — TOTAL ASSETS $ $ $ $ ) $ LIABILITIES AND STOCKHOLDERS’ EQUITY CURRENT LIABILITIES: Short-term debt $ $ $ $ — $ Accounts payable — Accrued expenses and other current liabilities — Accrued taxes payable — — Intercompany payable ) — Billings in excess of costs on uncompleted contracts — — Current portion of long-term debt — TOTAL CURRENT LIABILITIES ) OTHER LONG-TERM LIABILITIES — DEFERRED TAX LIABILITY — NET — — ) NOTE PAYABLE INTERCOMPANY—NON CURRENT — — ) — LONG-TERM DEBT — TOTAL LIABILITIES ) TOTAL AECOM STOCKHOLDERS’ EQUITY ) Noncontrolling interests — — — TOTAL STOCKHOLDERS’ EQUITY ) TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ $ $ $ ) $ Condensed Consolidating Balance Sheets (unaudited - in millions) September 30, 2016 Parent Guarantor Non- Eliminations Total ASSETS CURRENT ASSETS: Total cash and cash equivalents $ $ $ $ — $ Accounts receivable—net — — Intercompany receivable ) — Prepaid expenses and other current assets — Income taxes receivable — — TOTAL CURRENT ASSETS ) PROPERTY AND EQUIPMENT—NET — DEFERRED TAX ASSETS—NET — ) INVESTMENTS IN CONSOLIDATED SUBSIDIARIES ) — INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES — GOODWILL — — INTANGIBLE ASSETS—NET — — OTHER NON-CURRENT ASSETS — TOTAL ASSETS $ $ $ $ ) $ LIABILITIES AND STOCKHOLDERS’ EQUITY CURRENT LIABILITIES: Short-term debt $ $ $ $ — $ Accounts payable — Accrued expenses and other current liabilities — Accrued taxes payable — — — Intercompany payable ) — Billings in excess of costs on uncompleted contracts — — Current portion of long-term debt — TOTAL CURRENT LIABILITIES ) OTHER LONG-TERM LIABILITIES — DEFERRED TAX LIABILITY — NET — — ) NOTE PAYABLE INTERCOMPANY—NON CURRENT — — ) — LONG-TERM DEBT — TOTAL LIABILITIES ) TOTAL AECOM STOCKHOLDERS’ EQUITY ) Noncontrolling interests — — — TOTAL STOCKHOLDERS’ EQUITY ) TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ $ $ $ ) $
Schedule of Condensed Consolidating Statements of Operations	Condensed Consolidating Statements of Operations (unaudited - in millions) For the three months ended December 31, 2016 Parent Guarantor Non-Guarantor Eliminations Total Revenue $ — $ $ $ ) $ Cost of Revenue — ) Gross Profit — — Equity in earnings from subsidiaries ) ) — Equity in earnings of joint ventures — — General and administrative expenses ) — — — ) Acquisition and integration expenses ) — — — ) Income from operations ) Other income ) Interest expense ) ) ) ) Income before income tax (benefit) expense ) Income tax (benefit) expense ) — Net income ) Noncontrolling interest in income of consolidated subsidiaries, net of tax — — ) — ) Net income attributable to AECOM $ $ $ $ ) $ For the three months ended December 31, 2015 Parent Guarantor Non-Guarantor Eliminations Total Revenue $ — $ $ $ ) $ Cost of Revenue — ) Gross Profit — — Equity in earnings from subsidiaries ) ) — Equity in earnings of joint ventures — — General and administrative expenses ) ) — — ) Acquisition and integration expenses ) — — — ) Loss on disposal activities — — ) — ) (Loss) income from operations ) ) Other income ) Interest expense ) ) ) ) (Loss) income before income tax (benefit) expense ) ) ) Income tax (benefit) expense ) ) Net (loss) income ) ) ) Noncontrolling interest in income of consolidated subsidiaries, net of tax — — ) — ) Net (loss) income attributable to AECOM $ ) $ $ $ ) $ )
Schedule of Consolidating Statements of Comprehensive Income (Loss)	Consolidating Statements of Comprehensive Income (Loss) (unaudited - in millions) For the three months ended December 31, 2016 Parent Guarantor Non-Guarantor Eliminations Total Net income $ $ $ $ ) $ Other comprehensive income (loss), net of tax: Net unrealized gain (loss) on derivatives, net of tax — ) — Foreign currency translation adjustments — — ) — ) Pension adjustments, net of tax — — Other comprehensive income (loss), net of tax — ) — ) Comprehensive income (loss), net of tax ) ) Noncontrolling interests in comprehensive income of consolidated subsidiaries, net of tax — — ) — ) Comprehensive income (loss) attributable to AECOM, net of tax $ $ $ ) $ ) $ ) For the three months ended December 31, 2015 Parent Guarantor Non-Guarantor Eliminations Total Net (loss) income $ ) $ $ $ ) $ ) Other comprehensive income (loss), net of tax: Net unrealized gain on derivatives, net of tax — — Foreign currency translation adjustments — — ) — ) Pension adjustments, net of tax ) — Other comprehensive income (loss), net of tax ) ) — ) Comprehensive loss, net of tax ) ) ) ) ) Noncontrolling interests in comprehensive income of consolidated subsidiaries, net of tax — — ) — ) Comprehensive loss attributable to AECOM, net of tax $ ) $ ) $ ) $ ) $ )
Schedule on Condensed Consolidating Statements of Cash Flows	Condensed Consolidating Statements of Cash Flows (unaudited - in millions) For the three months ended December 31, 2016 Parent Guarantor Non-Guarantor Eliminations Total CASH FLOWS FROM OPERATING ACTIVITIES $ ) $ $ $ — $ CASH FLOWS FROM INVESTING ACTIVITIES: Net investment in unconsolidated joint ventures — ) ) — ) Net purchase of investments — — — Payments for capital expenditures, net of disposals ) ) ) — ) Net investment in intercompany notes ) ) ) — Other intercompany investing activities — ) — Net cash provided by (used in) investing activities ) ) ) ) CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from borrowings under credit agreements — — Repayments of borrowings under credit agreements ) ) ) — ) Proceeds from issuance of common stock — — — Proceeds from exercise of stock options — — — Payments to repurchase common stock ) — — — ) Net distributions to noncontrolling interests — — ) — ) Other financing activities ) ) — ) Net borrowings on intercompany notes — ) — Other intercompany financing activities — ) ) — Net cash provided by (used in) financing activities ) ) EFFECT OF EXCHANGE RATE CHANGES ON CASH — — ) — ) NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS ) — CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR — CASH AND CASH EQUIVALENTS AT END OF YEAR $ $ $ $ — $ For the three months ended December 31, 2015 Parent Guarantor Non-Guarantor Eliminations Total CASH FLOWS FROM OPERATING ACTIVITIES $ ) $ $ $ — $ CASH FLOWS FROM INVESTING ACTIVITIES: Proceeds from disposal of businesses and property — — — Net investment in unconsolidated joint ventures — ) ) — ) Net sales of investments — — — Payments for capital expenditures, net of disposals ) ) — ) Receipts from intercompany notes receivable — ) — Other intercompany investing activities — ) — Net cash used in investing activities ) CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from borrowings under credit agreements — — Repayments of borrowings under credit agreements ) ) ) — ) Cash paid for debt and equity issuance costs ) — — — ) Proceeds from issuance of common stock — — — Proceeds from exercise of stock options — — — Payments to repurchase common stock ) — — — ) Excess tax benefit from share-based payment — — — Net distributions to noncontrolling interests — — ) — ) Other financing activities ) ) — ) Intercompany notes repayments — — ) — Other intercompany financing activities — ) ) — Net cash used in financing activities ) ) ) ) EFFECT OF EXCHANGE RATE CHANGES ON CASH — — ) — ) NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS ) — ) CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR — CASH AND CASH EQUIVALENTS AT END OF YEAR $ $ $ $ — $

Basis of Presentation - Length

Basis of Presentation - Length of Fiscal Year (Details)	3 Months Ended
	Dec. 31, 2016
Minimum
Length of fiscal year	364 days
Maximum
Length of fiscal year	371 days

New Accounting Pronouncements36

New Accounting Pronouncements and Changes in Accounting (Details) - Accounting Standards Update April 2015 - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016
Recent Accounting Pronouncements
Unamortized debt issuance costs (noncurrent assets)	$ (54)	$ (56.8)
Unamortized debt issuance costs (long term debt)	$ 54	$ 56.8

Business Acquisitions, Goodwi37

Business Acquisitions, Goodwill and Intangible Assets - Acquisitions (Details) $ in Thousands	Oct. 17, 2014USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Sep. 30, 2016USD ($)item
Business acquisition
Number of acquisition | item				1
Consideration paid in cash				$ 5,500
Acquisition and integration expenses
Total		$ 15,412	$ 41,038
Loss on disposal activities			(41,053)
Trademark / tradename | Minimum
Business acquisition
Useful life		3 months 18 days
Trademark / tradename | Maximum
Business acquisition
Useful life		2 years
URS Corporation
Business acquisition
Consideration paid in cash	$ 2,300,000
Percentage of ownership acquired	100.00%
Consideration paid by issuing stock	$ 1,600,000
Senior notes assumed in acquisition as part of consideration net of repayments	400,000
Repayment of acquiree term loan as part of consideration	600,000
Repayment of acquiree line of credit as part of consideration	100,000
Accrued expenses and other current liabilities	240,000
Amortization of intangible assets of acquiree since acquisition date		$ 20,900	59,000
Fair value adjustment of joint ventures		2,000	9,700
Fair value adjustment of noncontrolling interests		(2,100)	(5,700)
Fair value of margin liability	149,100
Billings in excess of costs on uncompleted contracts		$ 13,300
Years the majority liability will be recognized		2 years
Revenue and related income from operations		$ 1,600	15,100
Acquisition and integration expenses
Severance and personnel costs		11,500	6,600
Professional service, real estate-related, and other expenses		3,900	34,400
Total		15,400	41,000
Severance expense		8,700	6,600
Severance expense paid		0	4,300
Financing-related expenses		2,800	$ 4,100
URS Corporation | Non-core
Acquisition and integration expenses
Loss on disposal activities		(41,000)
Net assets related to the loss on disposal activities		99,600
Income from continuing operations of acquiree since acquisition date		$ (7,100)
URS Corporation | Customer relationships, contracts and backlog
Business acquisition
Acquired backlog and customer relationship assets	$ 973,800
URS Corporation | Customer relationships, contracts and backlog | Minimum
Business acquisition
Useful life	1 year
URS Corporation | Customer relationships, contracts and backlog | Maximum
Business acquisition
Useful life	11 years
URS Corporation | Customer relationships, contracts and backlog | Weighted Average
Business acquisition
Useful life	3 years

Business Acquisitions, Goodwi38

Business Acquisitions, Goodwill and Intangible Assets - Goodwill (Details) $ in Thousands	3 Months Ended
	Dec. 31, 2016USD ($)
Changes in the carrying value of goodwill by reporting segment
Goodwill at the beginning of the period	$ 5,823,843
Foreign Exchange Impact	(39,400)
Goodwill at the end of the period	5,784,423
Design and Consulting Services
Changes in the carrying value of goodwill by reporting segment
Goodwill at the beginning of the period	3,198,200
Foreign Exchange Impact	(22,100)
Goodwill at the end of the period	3,176,100
Construction Services
Changes in the carrying value of goodwill by reporting segment
Goodwill at the beginning of the period	915,200
Foreign Exchange Impact	(4,900)
Goodwill at the end of the period	910,300
Management Services
Changes in the carrying value of goodwill by reporting segment
Goodwill at the beginning of the period	1,710,400
Foreign Exchange Impact	(12,400)
Goodwill at the end of the period	$ 1,698,000

Business Acquisitions, Goodwi39

Business Acquisitions, Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Sep. 30, 2016
Identifiable intangible assets with finite useful lives
Gross Amount	$ 1,259,300		$ 1,263,500
Accumulated Amortization	(809,500)		(784,100)
Intangible Assets, Net	449,785		479,439
Amortization expense	25,400	$ 65,100
Estimated amortization expense of intangible assets for the remainder of fiscal 2017 and for the succeeding years
2017 (nine months remaining)	72,100
2,018	81,500
2,019	76,300
2,020	64,400
2,021	54,600
Thereafter	100,900
Intangible Assets, Net	449,785		479,439
Backlog and customer relationships
Identifiable intangible assets with finite useful lives
Gross Amount	1,242,900		1,247,100
Accumulated Amortization	(793,100)		(767,700)
Intangible Assets, Net	449,800		479,400
Estimated amortization expense of intangible assets for the remainder of fiscal 2017 and for the succeeding years
Intangible Assets, Net	$ 449,800		479,400
Backlog and customer relationships | Minimum
Identifiable intangible assets with finite useful lives
Amortization Period	1 year
Backlog and customer relationships | Maximum
Identifiable intangible assets with finite useful lives
Amortization Period	11 years
Trademark / tradename
Identifiable intangible assets with finite useful lives
Gross Amount	$ 16,400		16,400
Accumulated Amortization	$ (16,400)		$ (16,400)
Trademark / tradename | Minimum
Identifiable intangible assets with finite useful lives
Amortization Period	3 months 18 days
Trademark / tradename | Maximum
Identifiable intangible assets with finite useful lives
Amortization Period	2 years

Accounts Receivable - Net (Deta

Accounts Receivable - Net (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016
Billed	$ 2,200,500	$ 2,267,600
Unbilled	1,941,800	1,890,200
Contract retentions	456,000	434,100
Total accounts receivable-gross	4,598,300	4,591,900
Allowance for doubtful accounts	(59,900)	(60,400)
Total accounts receivable-net	$ 4,538,396	$ 4,531,460
Period in which unbilled receivables are expected to be billed and collected	12 months	12 months
Total receivables sold that remain outstanding	$ 375,100	$ 356,300
Outstanding Receivables
Number of Customers	0	0
Percentage of the Company's outstanding receivables, as a percent	10.00%	10.00%

Joint Ventures and Variable I41

Joint Ventures and Variable Interest Entities (Details) $ in Thousands	3 Months Ended
	Dec. 31, 2016USD ($)employeeitem	Dec. 31, 2015USD ($)	Sep. 30, 2016USD ($)
Financial information
Minimum number of partners required to form joint ventures | item	2
Number of employees in some joint ventures | employee	0
Current assets	$ 5,985,101		$ 6,000,771
TOTAL ASSETS	13,508,996		13,669,936
Current liabilities	5,165,328		5,304,756
TOTAL LIABILITIES	9,949,109		10,117,447
Total AECOM equity	3,378,413		3,366,921
Noncontrolling interests	181,474		185,568
TOTAL STOCKHOLDERS' EQUITY	3,559,887		3,552,489
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	13,508,996		13,669,936
AECOM's investment in joint ventures	343,874		330,485
Joint ventures summarized financial information
Revenue	4,358,349	$ 4,297,651
Cost of revenue	4,188,376	4,156,793
Gross profit	169,973	140,858
Net income	65,778	(403)
Summary of AECOM's equity in earnings of unconsolidated joint ventures:
Total	21,471	25,263
Consolidated Joint Ventures
Financial information
Current assets	591,600		684,100
Non-current assets	236,100		230,800
TOTAL ASSETS	827,700		914,900
Current liabilities	386,300		407,400
Non-current liabilities	12,400		12,400
TOTAL LIABILITIES	398,700		419,800
Total AECOM equity	255,600		318,000
Noncontrolling interests	173,400		177,100
TOTAL STOCKHOLDERS' EQUITY	429,000		495,100
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	827,700		914,900
Joint ventures summarized financial information
Revenue	456,900	485,200
Unconsolidated Joint Ventures
Financial information
Current assets	1,417,600		1,407,000
Non-current assets	513,600		499,400
TOTAL ASSETS	1,931,200		1,906,400
Current liabilities	1,021,200		977,300
Non-current liabilities	162,300		146,200
TOTAL LIABILITIES	1,183,500		1,123,500
TOTAL STOCKHOLDERS' EQUITY	747,700		782,900
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	1,931,200		1,906,400
AECOM's investment in joint ventures	343,900		$ 330,500
Joint ventures summarized financial information
Revenue	1,142,000	1,228,100
Cost of revenue	1,085,800	1,169,200
Gross profit	56,200	58,900
Net income	54,300	48,900
Summary of AECOM's equity in earnings of unconsolidated joint ventures:
Pass through joint ventures	7,500	4,800
Other joint ventures	13,900	20,400
Total	$ 21,400	$ 25,200

Pension Benefit Obligations (De

Pension Benefit Obligations (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
United States Pension Plan of US Entity, Defined Benefit
Components of net periodic (benefit) cost:
Service costs	$ 1.1	$ 1.8
Interest cost on projected benefit obligation	4.8	5.7
Expected return on plan assets	(7.8)	(7.8)
Amortization of net loss	1.1	1
Curtailment gain recognized		(6.8)
Settlement (gain) loss recognized		(1)
Net periodic (benefit) cost	(0.8)	(7.1)
Change in benefit obligation:
Employer contributions	2.6
Expected remaining scheduled annual employer contributions for the current fiscal year	7.2
Foreign Pension Plan, Defined Benefit
Components of net periodic (benefit) cost:
Service costs	0.3	0.3
Interest cost on projected benefit obligation	7	10.5
Expected return on plan assets	(10.2)	(12.8)
Amortization of prior service credits	(0.1)	(0.1)
Amortization of net loss	3.2	1.4
Settlement (gain) loss recognized		0.1
Net periodic (benefit) cost	0.2	$ (0.6)
Change in benefit obligation:
Employer contributions	5.7
Expected remaining scheduled annual employer contributions for the current fiscal year	$ 18.3

Debt - Agreements (Details)

Debt - Agreements (Details) $ in Thousands	Sep. 29, 2016USD ($)	Sep. 28, 2016	Oct. 17, 2014USD ($)	Dec. 31, 2016USD ($)	Sep. 30, 2016USD ($)
Debt
Total debt				$ 4,164,000	$ 4,125,300
Less: Current portion of debt and short-term borrowings				(358,700)	(366,300)
Less: Unamortized debt issuance costs				(54,000)	(56,800)
Long-term debt				3,751,342	3,702,157
Scheduled maturities of debt:
2017 (nine months remaining)				324,800
2,018				128,600
2,019				119,600
2,020				114,200
2,021				1,524,500
Thereafter				1,952,300
Total debt				$ 4,164,000	4,125,300
Line of Credit
Debt agreements
Maximum increase in borrowing capacity			$ 500,000
Maximum consolidated leverage ratio	4.75	5
Consolidated leverage ratio				4.4
Consolidated interest coverage ratio				4.6
Outstanding letters of credit				$ 51,400	92,300
Remaining borrowing capacity under the credit facility				862,100	888,400
Secured Debt
Debt
Total debt				1,996,100	1,954,900
Scheduled maturities of debt:
Total debt				1,996,100	1,954,900
Revolving Credit Facility
Debt agreements
Borrowing capacity			1,050,000
Letter of Credit
Debt agreements
Borrowing capacity	$ 500,000
URS Corporation
Debt agreements
Senior notes assumed in acquisition as part of consideration net of repayments			400,000
Notes
Debt
Total debt				1,600,000	1,600,000
Scheduled maturities of debt:
Total debt				1,600,000	1,600,000
Other Debt
Debt
Total debt				140,600	142,700
Scheduled maturities of debt:
Total debt				140,600	142,700
Debt agreements
Outstanding letters of credit				413,500	382,200
Senior Notes | URS Corporation
Debt
Total debt			1,000,000	427,300	427,700
Scheduled maturities of debt:
Total debt			1,000,000	$ 427,300	$ 427,700
Term Loan A | Secured Debt
Debt agreements
Borrowing capacity	$ 185,000		1,925,000
Term Loan B | Secured Debt
Debt agreements
Borrowing capacity			$ 760,000

Debt - Redemption (Details)

Debt - Redemption (Details) - USD ($)	Oct. 24, 2014	Oct. 06, 2014	Dec. 31, 2016	Dec. 31, 2015	Sep. 30, 2016	Oct. 17, 2014
Debt
Total debt			$ 4,164,000,000		$ 4,125,300,000
Average effective interest rate on total borrowings, including the effects of swaps (as a percent)			4.20%	4.20%
Other Debt
Debt
Total debt			$ 140,600,000		142,700,000
Outstanding letters of credit			413,500,000		382,200,000
Unsecured Credit Facilities
Debt
Remaining borrowing capacity under the credit facility			534,900,000
Notes
Debt
Total debt			1,600,000,000		1,600,000,000
The 2022 Notes
Debt
Principal amount		$ 800,000,000
Interest rate (as a percent)		5.75%
Fair value of debt instrument			842,000,000
The 2022 Notes | Redemption period one
Debt
Redemption period, end date		Oct. 15, 2017
Redemption price percentage		105.75%
Percentage price of original principal amount of note, excluding required premium, at which note can be redeemed		100.00%
The 2024 Notes
Debt
Principal amount		$ 800,000,000
Interest rate (as a percent)		5.875%
Fair value of debt instrument			848,000,000
The 2024 Notes | Redemption period two
Debt
Redemption period, end date		Jul. 15, 2024
Percentage price of original principal amount of note, excluding required premium, at which note can be redeemed		100.00%
The 2024 Notes | Redemption period three
Debt
Redemption price percentage		100.00%
Redemption period, start date		Jul. 15, 2024
Senior Notes | URS Corporation
Debt
Redemption price percentage	101.00%
Total debt			427,300,000		$ 427,700,000	$ 1,000,000,000
Senior Notes 3.85% due 2017 | URS Corporation
Debt
Interest rate (as a percent)						3.85%
Fair value of long term debt			179,200,000
Total debt			179,700,000
Senior Notes 5.00% due 2022 | URS Corporation
Debt
Interest rate (as a percent)						5.00%
Fair value of long term debt			251,000,000
Total debt			$ 247,600,000
Maximum | The 2022 Notes | Redemption period one
Debt
Percentage of principal amount that can be redeemed		35.00%

Derivative Financial Instrume45

Derivative Financial Instruments and Fair Value Measurements (Details) AUD in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2016USD ($)	Sep. 30, 2015item	Dec. 31, 2016AUD	Dec. 31, 2016USD ($)	Sep. 30, 2016AUD	Sep. 30, 2016USD ($)
Derivative financial instruments
Number of contingent consideration arrangements | item		1
Material subsequent changes in fair value	$ 0
Level 3
Derivative financial instruments
Fair value of contingent consideration liability				$ 22,000,000		$ 39,000,000
Designated as Hedging Instrument | Cash Flow Hedging | Interest rate swap agreements
Derivative financial instruments
Losses Recognized in Income on Derivatives (Amount Excluded from Effectiveness Testing and Ineffective Portion)	$ 0
Designated as Hedging Instrument | Cash Flow Hedging | Interest Rate Swap June 2018
Derivative financial instruments
Notional Amount				$ 300,000,000		$ 300,000,000
Fixed Rate (as a percent)			1.63%	1.63%	1.63%	1.63%
Designated as Hedging Instrument | Cash Flow Hedging | Interest Rate Swap September 2018
Derivative financial instruments
Notional Amount				$ 300,000,000		$ 300,000,000
Fixed Rate (as a percent)			1.54%	1.54%	1.54%	1.54%
Designated as Hedging Instrument | Cash Flow Hedging | Foreign currency forward contracts
Derivative financial instruments
Notional principal of derivative exchange contracts			AUD 44.1	$ 32,900,000	AUD 58.6	$ 43,400,000

Share-based Payments (Details)

Share-based Payments (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Sep. 30, 2016
Stock options, weighted average exercise price
Unrecognized compensation expense	$ 149.8		$ 91.8
Recognized compensation expense	$ 21.3	$ 21.5
Vesting period	3 years
Employee Stock Option
Shares of stock under options
Balance at the beginning of the period (in shares)	0.9	1.3
Exercised (in shares)	(0.1)	(0.2)
Balance at the end of the period (in shares)	0.8	1.1
Vested and expected to vest in the future at the end of the period (in shares)	0.8	1.1
Stock options, weighted average exercise price
Balance at the beginning of the period (in dollars per share)	$ 30.36	$ 28.26
Exercised (in dollars per share)	25.46	23.94
Balance at the end of the period (in dollars per share)	30.86	28.92
Vested and expected to vest in the future at the end of the period (in dollars per share)	$ 30.86	28.92
Performance Earnings Program
Stock options, weighted average exercise price
Vesting period	3 years
Weighted average grant-date fair value of stock options granted (in dollars per share)	$ 38.16	29.92
Restricted Stock Units (RSUs)
Stock options, weighted average exercise price
Weighted average grant-date fair value of stock options granted (in dollars per share)	$ 38.08	$ 29.92

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Income Taxes
Effective tax rate (as a percent)	27.40%	62.90%
Federal statutory rate (as a percent)	35.00%
Favorable tax impact driven by changes in geographical mix	$ 4.1
Gross Book Tax Differences of Foreign Subsidiaries	1,600
Undistributed earnings related to foreign subsidiaries	$ 113.2

Earnings Per Share (Details)

Earnings Per Share (Details) - shares shares in Thousands	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Earnings Per Share
Antidilutive potential common shares excluded in computation of diluted loss per share		1,200
Denominator for basic earnings per share (in shares)	154,255	153,619
Potential common shares (in shares)	3,700
Denominator for diluted earnings per share (in shares)	157,993	153,619

Other Financial Information (De

Other Financial Information (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Sep. 30, 2016
Accrued expenses
Accrued salaries and benefits	$ 887,500	$ 964,900
Accrued contract costs	991,600	1,009,800
Other accrued expenses	289,400	410,100
Total accrued expenses	2,168,508	2,384,815
Accrued contract costs related to professional liability accruals	$ 574,500	611,000
Noncurrent asset related to recovery of pension related entitlement		$ 50,000

Reclassifications out of Accu50

Reclassifications out of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Accumulated balances
Balance at the beginning of the period	$ (857,582)	$ (635,100)
Other comprehensive (loss) income before reclassification	(59,100)	(93,100)
Amounts reclassified from accumulated other comprehensive loss, actuarial (gains) losses, net of tax	3,200	1,700
Amounts reclassified from accumulated other comprehensive loss, cash flow hedge (gains) losses, net of tax	600	1,300
Balance at the end of the period	(912,858)	(725,200)
Actuarial losses/Pension Related Adjustments
Accumulated balances
Balance at the beginning of the period	(368,900)	(204,000)
Other comprehensive (loss) income before reclassification	13,700	(1,000)
Amounts reclassified from accumulated other comprehensive loss, actuarial (gains) losses, net of tax	3,200	1,700
Balance at the end of the period	(352,000)	(203,300)
Foreign Currency Translation Adjustments
Accumulated balances
Balance at the beginning of the period	(483,700)	(420,100)
Other comprehensive (loss) income before reclassification	(73,500)	(96,100)
Balance at the end of the period	(557,200)	(516,200)
Cash flow hedges/Loss on Derivative Instruments
Accumulated balances
Balance at the beginning of the period	(5,000)	(11,000)
Other comprehensive (loss) income before reclassification	700	4,000
Amounts reclassified from accumulated other comprehensive loss, cash flow hedge (gains) losses, net of tax	600	1,300
Balance at the end of the period	$ (3,700)	$ (5,700)

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	Jan. 23, 2017USD ($)	Nov. 22, 2016USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2016USD ($)item	Sep. 30, 2016USD ($)
Commitments and Contingencies
Number of affiliates for which inspections occurred on accounts and records by World Bank | item				2
DOE Hanford Nuclear Reservation
Commitments and Contingencies
Payments for legal settlements		$ 57.5
Net benefit of settlement		$ 35
DOE Hanford Nuclear Reservation | Subsequent Event
Commitments and Contingencies
Payments for legal settlements	$ 5.3
Standby Letters of Credit
Commitments and Contingencies
Contingency liability of general and professional liability insurance programs and for payment and performance guarantees				$ 464.9	$ 474.5
Surety Bond
Commitments and Contingencies
Surety bonds issued				3,600	$ 3,300
DOE Deactivation Demolition And Removal Project | URS Corporation | Washington Group International
Commitments and Contingencies
Projects costs, maximum				146
DOE Deactivation Demolition And Removal Project | Department of Energy
Commitments and Contingencies
Projects costs, minimum				106
DOE Deactivation Demolition And Removal Project | Department of Energy | URS Corporation | Washington Group International
Commitments and Contingencies
Projects costs, minimum				106
Projects costs, maximum				$ 146
Amount recovery (including additional Fees)			$ 103
Minimum cost to complete the project and promised amenities			$ 100

Reportable Segments and Geograp

Reportable Segments and Geographic Information - Segments (Details) $ in Thousands	3 Months Ended
	Dec. 31, 2016USD ($)segment	Dec. 31, 2015USD ($)	Sep. 30, 2016USD ($)
Summarized financial information concerning the Company's reportable segments
Number of reportable segments | segment	3
Cost of revenue	$ 4,188,376	$ 4,156,793
Revenue	4,358,349	4,297,651
Gross profit	169,973	140,858
Equity in earnings of joint ventures	21,471	25,263
General and administrative expenses	(32,639)	(28,639)
Acquisition and integration expenses	(15,412)	(41,038)
Loss on disposal activities		(41,053)
Operating income (loss)	143,393	$ 55,391
Segment assets	$ 13,508,996		$ 13,669,936
Gross profit as a % of revenue	3.90%	3.30%
Corporate
Summarized financial information concerning the Company's reportable segments
General and administrative expenses	$ (32,600)	$ (28,700)
Acquisition and integration expenses	(15,400)	(41,000)
Operating income (loss)	(48,000)	(69,700)
Segment assets	714,900		765,300
Design and Consulting Services
Summarized financial information concerning the Company's reportable segments
Revenue	1,840,800	1,862,100
Gross profit	95,200	79,300
Equity in earnings of joint ventures	4,100	3,000
Operating income (loss)	99,300	$ 82,300
Segment assets	$ 6,646,100		6,655,700
Gross profit as a % of revenue	5.20%	4.30%
Construction Services
Summarized financial information concerning the Company's reportable segments
Revenue	$ 1,750,200	$ 1,678,600
Gross profit	13,800	11,400
Equity in earnings of joint ventures	4,300	2,600
Loss on disposal activities		(41,000)
Operating income (loss)	18,100	$ (27,000)
Segment assets	$ 3,516,100		3,556,200
Gross profit as a % of revenue	0.80%	0.70%
Management Services
Summarized financial information concerning the Company's reportable segments
Revenue	$ 767,300	$ 757,000
Gross profit	61,000	50,200
Equity in earnings of joint ventures	13,000	19,600
Operating income (loss)	74,000	$ 69,800
Segment assets	$ 2,631,900		$ 2,692,700
Gross profit as a % of revenue	7.90%	6.60%
Management Services | Restatement Adjustment
Summarized financial information concerning the Company's reportable segments
Cost of revenue		$ 32,000
Revenue		$ 33,000

Condensed Consolidating Finan53

Condensed Consolidating Financial Information - Debt (Details) - USD ($) $ in Millions	Sep. 29, 2015	Oct. 06, 2014
The new 2022 Notes
Principal amount		$ 800
Interest rate (as a percent)	5.75%
The new 2024 Notes
Principal amount		$ 800
Interest rate (as a percent)	5.875%

Condensed Consolidating Finan54

Condensed Consolidating Financial Information - Balance Sheets (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Sep. 30, 2016	Dec. 31, 2015	Sep. 30, 2015
CURRENT ASSETS:
Total cash and cash equivalents	$ 697,717	$ 692,145	$ 658,044	$ 683,893
Accounts receivable-net	4,538,396	4,531,460
Prepaid expenses and other current assets	707,738	730,101
Income taxes receivable	41,250	47,065
TOTAL CURRENT ASSETS	5,985,101	6,000,771
PROPERTY AND EQUIPMENT-NET	634,916	644,992
DEFERRED TAX ASSETS-NET	136,442	171,508
INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES	343,874	330,485
GOODWILL	5,784,423	5,823,843
INTANGIBLE ASSETS-NET	449,785	479,439
OTHER NON-CURRENT ASSETS	174,455	218,898
TOTAL ASSETS	13,508,996	13,669,936
CURRENT LIABILITIES:
Short-term debt	14,785	26,303
Accounts payable	1,967,051	1,910,915
Accrued Liabilities, Current	2,168,508	2,384,815
Accrued taxes payable	10,774	10,774
Billings in excess of costs on uncompleted contracts	660,266	631,928
Current portion of long-term debt	343,944	340,021
TOTAL CURRENT LIABILITIES	5,165,328	5,304,756
OTHER LONG-TERM LIABILITIES	1,019,600	1,097,400
DEFERRED TAX LIABILITY-NET	12,887	13,097
LONG-TERM DEBT	3,751,342	3,702,157
TOTAL LIABILITIES	9,949,109	10,117,447
TOTAL AECOM STOCKHOLDERS' EQUITY	3,378,413	3,366,921
Noncontrolling interests	181,474	185,568
TOTAL STOCKHOLDERS' EQUITY	3,559,887	3,552,489
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	13,508,996	13,669,936
Reportable Legal Entities | Parent
CURRENT ASSETS:
Total cash and cash equivalents	22,000	1,800	2,200	1,300
Intercompany receivable	737,900	760,700
Prepaid expenses and other current assets	77,400	98,700
Income taxes receivable	12,000	28,700
TOTAL CURRENT ASSETS	849,300	889,900
PROPERTY AND EQUIPMENT-NET	170,100	169,300
DEFERRED TAX ASSETS-NET	282,800	265,200
INVESTMENTS IN CONSOLIDATED SUBSIDIARIES	5,976,300	6,031,700
INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES	700	700
OTHER NON-CURRENT ASSETS	8,400	8,400
TOTAL ASSETS	7,287,600	7,365,200
CURRENT LIABILITIES:
Short-term debt	1,900	3,100
Accounts payable	39,200	45,800
Accrued Liabilities, Current	105,800	201,200
Intercompany payable	88,200	114,100
Current portion of long-term debt	108,400	108,200
TOTAL CURRENT LIABILITIES	343,500	472,400
OTHER LONG-TERM LIABILITIES	112,300	115,700
LONG-TERM DEBT	3,455,000	3,411,200
TOTAL LIABILITIES	3,910,800	3,999,300
TOTAL AECOM STOCKHOLDERS' EQUITY	3,376,800	3,365,900
TOTAL STOCKHOLDERS' EQUITY	3,376,800	3,365,900
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	7,287,600	7,365,200
Reportable Legal Entities | Guarantor Subsidiaries
CURRENT ASSETS:
Total cash and cash equivalents	159,500	183,700	132,300	162,400
Accounts receivable-net	2,081,900	2,034,000
Intercompany receivable	105,000	151,700
Prepaid expenses and other current assets	346,300	336,200
TOTAL CURRENT ASSETS	2,692,700	2,705,600
PROPERTY AND EQUIPMENT-NET	241,400	236,500
INVESTMENTS IN CONSOLIDATED SUBSIDIARIES	1,289,200	1,408,400
INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES	52,700	48,600
GOODWILL	3,318,600	3,286,600
INTANGIBLE ASSETS-NET	317,200	334,000
OTHER NON-CURRENT ASSETS	28,400	71,400
TOTAL ASSETS	7,940,200	8,091,100
CURRENT LIABILITIES:
Short-term debt	7,300	7,300
Accounts payable	932,800	907,000
Accrued Liabilities, Current	1,074,900	1,137,100
Intercompany payable	837,000	857,900
Billings in excess of costs on uncompleted contracts	239,400	237,500
Current portion of long-term debt	221,000	222,100
TOTAL CURRENT LIABILITIES	3,312,400	3,368,900
OTHER LONG-TERM LIABILITIES	321,500	349,300
DEFERRED TAX LIABILITY-NET	271,700	236,600
LONG-TERM DEBT	278,700	273,400
TOTAL LIABILITIES	4,184,300	4,228,200
TOTAL AECOM STOCKHOLDERS' EQUITY	3,755,900	3,862,900
TOTAL STOCKHOLDERS' EQUITY	3,755,900	3,862,900
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	7,940,200	8,091,100
Reportable Legal Entities | Non-Guarantor Subsidiaries
CURRENT ASSETS:
Total cash and cash equivalents	516,200	506,600	$ 523,500	$ 520,200
Accounts receivable-net	2,456,500	2,497,500
Intercompany receivable	135,500	152,000
Prepaid expenses and other current assets	284,000	295,200
Income taxes receivable	18,700	18,400
TOTAL CURRENT ASSETS	3,410,900	3,469,700
PROPERTY AND EQUIPMENT-NET	223,400	239,200
DEFERRED TAX ASSETS-NET	112,400	129,800
INVESTMENTS IN CONSOLIDATED SUBSIDIARIES	58,100	58,400
INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES	290,500	281,200
GOODWILL	2,465,800	2,537,200
INTANGIBLE ASSETS-NET	132,600	145,400
OTHER NON-CURRENT ASSETS	137,700	139,100
TOTAL ASSETS	6,831,400	7,000,000
CURRENT LIABILITIES:
Short-term debt	5,600	15,900
Accounts payable	995,100	958,100
Accrued Liabilities, Current	987,800	1,046,500
Accrued taxes payable	100	10,800
Intercompany payable	171,100	208,800
Billings in excess of costs on uncompleted contracts	420,900	394,400
Current portion of long-term debt	14,500	9,700
TOTAL CURRENT LIABILITIES	2,595,100	2,644,200
OTHER LONG-TERM LIABILITIES	585,800	632,400
NOTE PAYABLE INTERCOMPANY-NON CURRENT	572,400	563,500
LONG-TERM DEBT	17,600	17,600
TOTAL LIABILITIES	3,770,900	3,857,700
TOTAL AECOM STOCKHOLDERS' EQUITY	2,879,000	2,956,700
Noncontrolling interests	181,500	185,600
TOTAL STOCKHOLDERS' EQUITY	3,060,500	3,142,300
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	6,831,400	7,000,000
Eliminations
CURRENT ASSETS:
Intercompany receivable	(978,400)	(1,064,400)
Income taxes receivable	10,600
TOTAL CURRENT ASSETS	(967,800)	(1,064,400)
DEFERRED TAX ASSETS-NET	(258,800)	(223,500)
INVESTMENTS IN CONSOLIDATED SUBSIDIARIES	(7,323,600)	(7,498,500)
TOTAL ASSETS	(8,550,200)	(8,786,400)
CURRENT LIABILITIES:
Accrued taxes payable	10,600
Intercompany payable	(1,096,300)	(1,180,800)
TOTAL CURRENT LIABILITIES	(1,085,700)	(1,180,800)
DEFERRED TAX LIABILITY-NET	(258,800)	(223,500)
NOTE PAYABLE INTERCOMPANY-NON CURRENT	(572,400)	(563,500)
TOTAL LIABILITIES	(1,916,900)	(1,967,800)
TOTAL AECOM STOCKHOLDERS' EQUITY	(6,633,300)	(6,818,600)
TOTAL STOCKHOLDERS' EQUITY	(6,633,300)	(6,818,600)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ (8,550,200)	$ (8,786,400)

Condensed Consolidating Finan55

Condensed Consolidating Financial Information - Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Condensed Consolidating Statements of Operations
Revenue	$ 4,358,349	$ 4,297,651
Cost of revenue	4,188,376	4,156,793
Gross profit	169,973	140,858
Equity in earnings of joint ventures	21,471	25,263
General and administrative expenses	(32,639)	(28,639)
Acquisition and integration expenses	(15,412)	(41,038)
Loss on disposal activities		(41,053)
Income from operations	143,393	55,391
Other income (expense)	860	3,042
Interest (expense) income	(53,637)	(59,518)
Income (loss) before income tax expense	90,616	(1,085)
Income tax (benefit) expense	24,838	(682)
Net income (loss)	65,778	(403)
Noncontrolling interests in income of consolidated subsidiaries, net of tax	(18,599)	(19,964)
Net income (loss) attributable to AECOM	47,179	(20,367)
Reportable Legal Entities | Parent
Condensed Consolidating Statements of Operations
Equity in earnings from subsidiaries	120,300	54,900
General and administrative expenses	(32,600)	(27,600)
Acquisition and integration expenses	(15,400)	(41,000)
Income from operations	72,300	(13,700)
Other income (expense)	400	800
Interest expense	(47,800)	(53,300)
Income (loss) before income tax expense	24,900	(66,200)
Income tax (benefit) expense	(22,300)	(45,800)
Net income (loss)	47,200	(20,400)
Net income (loss) attributable to AECOM	47,200	(20,400)
Reportable Legal Entities | Guarantor Subsidiaries
Condensed Consolidating Statements of Operations
Revenue	2,281,500	2,236,300
Cost of revenue	2,161,300	2,182,500
Gross profit	120,200	53,800
Equity in earnings from subsidiaries	(100)	(40,300)
Equity in earnings of joint ventures	9,900	4,500
General and administrative expenses		(1,100)
Income from operations	130,000	16,900
Other income (expense)	7,600	8,900
Interest expense	(5,700)	(5,700)
Income (loss) before income tax expense	131,900	20,100
Income tax (benefit) expense	35,900	18,100
Net income (loss)	96,000	2,000
Net income (loss) attributable to AECOM	96,000	2,000
Reportable Legal Entities | Non-Guarantor Subsidiaries
Condensed Consolidating Statements of Operations
Revenue	2,090,100	2,094,200
Cost of revenue	2,040,300	2,007,100
Gross profit	49,800	87,100
Equity in earnings from subsidiaries	700	800
Equity in earnings of joint ventures	11,500	20,700
Loss on disposal activities		(41,000)
Income from operations	62,000	67,600
Other income (expense)	2,900	2,500
Interest expense	(10,200)	(9,700)
Income (loss) before income tax expense	54,700	60,400
Income tax (benefit) expense	11,200	14,200
Net income (loss)	43,500	46,200
Noncontrolling interests in income of consolidated subsidiaries, net of tax	(18,600)	(20,000)
Net income (loss) attributable to AECOM	24,900	26,200
Eliminations
Condensed Consolidating Statements of Operations
Revenue	(13,300)	(32,800)
Cost of revenue	(13,300)	(32,800)
Equity in earnings from subsidiaries	(120,900)	(15,400)
Income from operations	(120,900)	(15,400)
Other income (expense)	(10,100)	(9,200)
Interest expense	10,100	9,200
Income (loss) before income tax expense	(120,900)	(15,400)
Income tax (benefit) expense		12,800
Net income (loss)	(120,900)	(28,200)
Net income (loss) attributable to AECOM	$ (120,900)	$ (28,200)

Condensed Consolidating Finan56

Condensed Consolidating Financial Information - Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Consolidated Statements of Comprehensive Income (Loss)
Net income (loss)	$ 65,778	$ (403)
Other comprehensive income (loss), net of tax:
Net unrealized gain (loss) on derivatives, net of tax	1,367	5,323
Foreign currency translation adjustments	(73,924)	(97,694)
Pension adjustments, net of tax	16,973	689
Other comprehensive loss, net of tax	(55,584)	(91,682)
Comprehensive income (loss), net of tax	10,194	(92,085)
Noncontrolling interests in comprehensive (loss) of consolidated subsidiaries, net of tax	(18,291)	(18,337)
Comprehensive income (loss), attributable to AECOM, net of tax	(8,097)	(110,422)
Reportable Legal Entities | Parent
Consolidated Statements of Comprehensive Income (Loss)
Net income (loss)	47,200	(20,400)
Other comprehensive income (loss), net of tax:
Net unrealized gain (loss) on derivatives, net of tax	2,900	3,900
Pension adjustments, net of tax	600	600
Other comprehensive loss, net of tax	3,500	4,500
Comprehensive income (loss), net of tax	50,700	(15,900)
Comprehensive income (loss), attributable to AECOM, net of tax	50,700	(15,900)
Reportable Legal Entities | Guarantor Subsidiaries
Consolidated Statements of Comprehensive Income (Loss)
Net income (loss)	96,000	2,000
Other comprehensive income (loss), net of tax:
Pension adjustments, net of tax		(4,700)
Other comprehensive loss, net of tax		(4,700)
Comprehensive income (loss), net of tax	96,000	(2,700)
Comprehensive income (loss), attributable to AECOM, net of tax	96,000	(2,700)
Reportable Legal Entities | Non-Guarantor Subsidiaries
Consolidated Statements of Comprehensive Income (Loss)
Net income (loss)	43,500	46,200
Other comprehensive income (loss), net of tax:
Net unrealized gain (loss) on derivatives, net of tax	(1,500)	1,400
Foreign currency translation adjustments	(73,900)	(97,700)
Pension adjustments, net of tax	16,300	4,800
Other comprehensive loss, net of tax	(59,100)	(91,500)
Comprehensive income (loss), net of tax	(15,600)	(45,300)
Noncontrolling interests in comprehensive (loss) of consolidated subsidiaries, net of tax	(18,300)	(18,300)
Comprehensive income (loss), attributable to AECOM, net of tax	(33,900)	(63,600)
Eliminations
Consolidated Statements of Comprehensive Income (Loss)
Net income (loss)	(120,900)	(28,200)
Other comprehensive income (loss), net of tax:
Comprehensive income (loss), net of tax	(120,900)	(28,200)
Comprehensive income (loss), attributable to AECOM, net of tax	$ (120,900)	$ (28,200)

Condensed Consolidating Finan57

Condensed Consolidating Financial Information - Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Condensed Consolidating Statements of Cash Flows
CASH FLOWS FROM OPERATING ACTIVITIES	$ 77,507	$ 78,055
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from disposal of businesses and property		37,567
Net investment in unconsolidated joint ventures	(18,133)	(7,724)
Sales (purchases) of investments	300	11,000
Payments for capital expenditures, net of disposals	(21,000)	(900)
Net cash (used in) provided by investing activities	(38,860)	39,987
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from borrowings under credit agreements	1,634,781	1,222,663
Repayments of borrowings under credit agreements	(1,607,380)	(1,304,882)
Cash paid for debt and equity issuance costs		(1,178)
Proceeds from issuance of common stock	9,875	6,894
Proceeds from exercise of stock options	2,067	3,013
Payments to repurchase common stock	(17,494)	(17,343)
Excess tax benefit from share-based payment		3,324
Net distributions to noncontrolling interests	(21,938)	(37,785)
Other financing activities	(26,280)	(12,950)
Net cash (used in) financing activities	(26,369)	(138,244)
EFFECT OF EXCHANGE RATE CHANGES ON CASH	(6,706)	(5,647)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	5,572	(25,849)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR	692,145	683,893
CASH AND CASH EQUIVALENTS AT END OF YEAR	697,717	658,044
Reportable Legal Entities | Parent
Condensed Consolidating Statements of Cash Flows
CASH FLOWS FROM OPERATING ACTIVITIES	(27,000)	(265,100)
CASH FLOWS FROM INVESTING ACTIVITIES:
Payments for capital expenditures, net of disposals	(7,200)	(5,300)
Net receipts from (investment in) intercompany notes	(500)	7,000
Other intercompany investing activities	32,100	342,400
Net cash (used in) provided by investing activities	24,400	344,100
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from borrowings under credit agreements	1,634,200	1,220,700
Repayments of borrowings under credit agreements	(1,595,200)	(1,283,800)
Cash paid for debt and equity issuance costs		(1,200)
Proceeds from issuance of common stock	9,900	6,900
Proceeds from exercise of stock options	2,100	3,000
Payments to repurchase common stock	(17,500)	(17,300)
Excess tax benefit from share-based payment		3,300
Other financing activities	(10,700)	(9,700)
Net cash (used in) financing activities	22,800	(78,100)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	20,200	900
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR	1,800	1,300
CASH AND CASH EQUIVALENTS AT END OF YEAR	22,000	2,200
Reportable Legal Entities | Guarantor Subsidiaries
Condensed Consolidating Statements of Cash Flows
CASH FLOWS FROM OPERATING ACTIVITIES	83,200	295,000
CASH FLOWS FROM INVESTING ACTIVITIES:
Net investment in unconsolidated joint ventures	(800)	(500)
Payments for capital expenditures, net of disposals	(9,700)	(9,000)
Net receipts from (investment in) intercompany notes	(8,700)	39,700
Other intercompany investing activities	14,400	21,900
Net cash (used in) provided by investing activities	(4,800)	52,100
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments of borrowings under credit agreements	(6,400)	(5,800)
Other financing activities	(65,500)	(31,700)
Net borrowings (repayments) on intercompany notes	1,100
Other intercompany financing activities	(31,800)	(339,700)
Net cash (used in) financing activities	(102,600)	(377,200)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(24,200)	(30,100)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR	183,700	162,400
CASH AND CASH EQUIVALENTS AT END OF YEAR	159,500	132,300
Reportable Legal Entities | Non-Guarantor Subsidiaries
Condensed Consolidating Statements of Cash Flows
CASH FLOWS FROM OPERATING ACTIVITIES	21,300	48,100
CASH FLOWS FROM INVESTING ACTIVITIES:
Payments for business acquisitions, net of cash acquired		37,600
Net investment in unconsolidated joint ventures	(17,300)	(7,200)
Sales (purchases) of investments	300	11,000
Payments for capital expenditures, net of disposals	(4,100)	13,400
Net receipts from (investment in) intercompany notes	(1,200)
Net cash (used in) provided by investing activities	(22,300)	54,800
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from borrowings under credit agreements	600	2,000
Repayments of borrowings under credit agreements	(5,800)	(15,300)
Net distributions to noncontrolling interests	(21,900)	(37,800)
Other financing activities	49,800	28,400
Net borrowings (repayments) on intercompany notes	9,300	(46,700)
Other intercompany financing activities	(14,700)	(24,600)
Net cash (used in) financing activities	17,300	(94,000)
EFFECT OF EXCHANGE RATE CHANGES ON CASH	(6,700)	(5,600)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	9,600	3,300
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR	506,600	520,200
CASH AND CASH EQUIVALENTS AT END OF YEAR	516,200	523,500
Eliminations
CASH FLOWS FROM INVESTING ACTIVITIES:
Net receipts from (investment in) intercompany notes	10,400	(46,700)
Other intercompany investing activities	(46,500)	(364,300)
Net cash (used in) provided by investing activities	(36,100)	(411,000)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net borrowings (repayments) on intercompany notes	(10,400)	46,700
Other intercompany financing activities	46,500	364,300
Net cash (used in) financing activities	$ 36,100	$ 411,000