AECOM (ACM) 10-Q 8 May 19 2019 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Mar. 31, 2019	May 01, 2019
Document and Entity Information
Entity Registrant Name	AECOM
Entity Central Index Key	0000868857
Document Type	10-Q
Document Period End Date	Mar. 31, 2019
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		157,343,802
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2019	Sep. 30, 2018
CURRENT ASSETS:
Cash and cash equivalents	$ 592,731	$ 642,168
Cash in consolidated joint ventures	234,147	244,565
Total cash and cash equivalents	826,878	886,733
Accounts receivable-net	3,285,939	3,307,851
Contract assets	2,426,892	2,160,970
Prepaid expenses and other current assets	592,189	585,152
Current assets held for sale	55,000	59,800
Income taxes receivable	53,742	126,816
TOTAL CURRENT ASSETS	7,240,640	7,127,322
PROPERTY AND EQUIPMENT-NET	596,374	614,062
DEFERRED TAX ASSETS-NET	163,707	159,396
INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES	338,431	310,661
GOODWILL	5,908,248	5,921,116
INTANGIBLE ASSETS-NET	277,208	319,892
OTHER NON-CURRENT ASSETS	212,415	228,682
TOTAL ASSETS	14,737,023	14,681,131
CURRENT LIABILITIES:
Short-term debt	48,377	8,353
Accounts payable	2,581,347	2,726,047
Accrued expenses and other current liabilities	2,135,122	2,267,046
Income taxes payable	36,305	39,802
Contract liabilities	962,101	931,431
Current liabilities held for sale	17,000	22,300
Current portion of long-term debt	109,935	134,698
TOTAL CURRENT LIABILITIES	5,890,187	6,129,677
OTHER LONG-TERM LIABILITIES	321,348	329,457
DEFERRED TAX LIABILITY-NET	8,343	47,273
PENSION BENEFIT OBLIGATIONS	388,629	412,604
LONG-TERM DEBT	3,733,642	3,483,746
TOTAL LIABILITIES	10,342,149	10,402,757
COMMITMENTS AND CONTINGENCIES (Note 14)
AECOM STOCKHOLDERS' EQUITY:
Common stock-authorized, 300,000,000 shares of $0.01 par value as of March 31, 2019 and September 30, 2018; issued and outstanding 157,338,763 and 156,983,356 shares as of March 31, 2019 and September 30, 2018, respectively	1,573	1,570
Additional paid-in capital	3,904,298	3,846,392
Accumulated other comprehensive loss	(711,021)	(703,330)
Retained earnings	1,005,086	948,148
TOTAL AECOM STOCKHOLDERS' EQUITY	4,199,936	4,092,780
Noncontrolling interests	194,938	185,594
TOTAL STOCKHOLDERS' EQUITY	4,394,874	4,278,374
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 14,737,023	$ 14,681,131

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2019	Sep. 30, 2018
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	157,338,763	156,983,356
Common stock, outstanding shares	157,338,763	156,983,356

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
Consolidated Statements of Operations
Revenue	$ 5,040,022	$ 4,790,910	$ 10,077,517	$ 9,701,742
Cost of revenue	4,844,660	4,649,638	9,711,542	9,424,318
Gross profit	195,362	141,272	365,975	277,424
Equity in earnings of joint ventures	25,963	13,038	38,467	42,758
General and administrative expenses	(37,426)	(30,217)	(73,333)	(64,887)
Restructuring costs	(15,875)		(79,170)
Impairment of assets held for sale, including goodwill		(168,178)		(168,178)
Income (loss) from operations	168,024	(44,085)	251,939	87,117
Other income	4,266	12,507	7,863	14,790
Interest expense	(57,828)	(100,577)	(113,854)	(156,742)
Income (loss) before income tax expense (benefit)	114,462	(132,155)	145,948	(54,835)
Income tax expense (benefit)	20,943	(24,400)	(12,657)	(71,493)
Net income (loss)	93,519	(107,755)	158,605	16,658
Noncontrolling interests in income of consolidated subsidiaries, net of tax	(15,674)	(11,978)	(29,241)	(25,077)
Net income (loss) attributable to AECOM	$ 77,845	$ (119,733)	$ 129,364	$ (8,419)
Net income (loss) attributable to AECOM per share:
Basic (in dollars per share)	$ 0.50	$ (0.75)	$ 0.83	$ (0.05)
Diluted (in dollars per share)	$ 0.49	$ (0.75)	$ 0.81	$ (0.05)
Weighted average shares outstanding:
Basic (in shares)	156,621	159,495	156,519	158,702
Diluted (in shares)	158,416	159,495	159,010	158,702

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2019	Mar. 31, 2018
Consolidated Statements of Comprehensive Income
Net income (loss)	$ 93,519	$ 65,086	$ (107,755)	$ 124,413	$ 158,605	$ 16,658
Other comprehensive income (loss), net of tax:
Net unrealized loss on derivatives, net of tax	(4,058)		(1,625)		(10,356)	(840)
Foreign currency translation adjustments	22,754		15,496		965	9,513
Pension adjustments, net of tax	(3,427)		(16,103)		1,903	(13,635)
Other comprehensive income (loss), net of tax	15,269	$ (22,757)	(2,232)	$ (2,730)	(7,488)	(4,962)
Comprehensive income (loss), net of tax	108,788		(109,987)		151,117	11,696
Noncontrolling interests in comprehensive income of consolidated subsidiaries, net of tax	(15,819)		(12,562)		(29,444)	(26,454)
Comprehensive income (loss) attributable to AECOM, net of tax	$ 92,969		$ (122,549)		$ 121,673	$ (14,758)

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total AECOM Stockholders' Equity	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Loss	Retained Earnings	Non-Controlling Interests	Total
BALANCE at Sep. 30, 2017	$ 3,996,126	$ 1,575	$ 3,733,572	$ (700,661)	$ 961,640	$ 218,560	$ 4,214,686
Increase (Decrease) in Stockholders' Equity
Net income	111,314				111,314	13,099	124,413
Other comprehensive income (loss)	(3,523)			(3,523)		793	(2,730)
Issuance of stock	9,930	22	9,908				9,930
Repurchases of stock	(28,328)	(7)	(28,321)				(28,328)
Proceeds from exercise of options	2,310	1	2,309				2,310
Stock based compensation	16,540		16,540				16,540
Other transactions with noncontrolling interests						10,755	10,755
Contributions from noncontrolling interests						4,565	4,565
Distributions to noncontrolling interests						(21,360)	(21,360)
BALANCE at Dec. 31, 2017	4,104,369	1,591	3,734,008	(704,184)	1,072,954	226,412	4,330,781
BALANCE at Sep. 30, 2017	3,996,126	1,575	3,733,572	(700,661)	961,640	218,560	4,214,686
Increase (Decrease) in Stockholders' Equity
Net income							16,658
Other comprehensive income (loss)							(4,962)
BALANCE at Mar. 31, 2018	4,040,752	1,602	3,792,929	(707,000)	953,221	223,873	4,264,625
BALANCE at Dec. 31, 2017	4,104,369	1,591	3,734,008	(704,184)	1,072,954	226,412	4,330,781
Increase (Decrease) in Stockholders' Equity
Net income	(119,733)				(119,733)	11,978	(107,755)
Other comprehensive income (loss)	(2,816)			(2,816)		584	(2,232)
Issuance of stock	38,381	12	38,369				38,381
Repurchases of stock	(545)	(1)	(544)				(545)
Proceeds from exercise of options	440		440				440
Stock based compensation	20,656		20,656				20,656
Other transactions with noncontrolling interests						(7,838)	(7,838)
Contributions from noncontrolling interests						2,976	2,976
Distributions to noncontrolling interests						(10,239)	(10,239)
BALANCE at Mar. 31, 2018	4,040,752	1,602	3,792,929	(707,000)	953,221	223,873	4,264,625
BALANCE at Sep. 30, 2018	4,092,780	1,570	3,846,392	(703,330)	948,148	185,594	4,278,374
Increase (Decrease) in Stockholders' Equity
Net income	51,519				51,519	13,567	65,086
Cumulative effect of accounting standard adoption	(12,453)				(12,453)		(12,453)
Other comprehensive income (loss)	(22,815)			(22,815)		58	(22,757)
Issuance of stock	5,485	24	5,461				5,485
Repurchases of stock	(52,347)	(24)	(22,339)		(29,984)		(52,347)
Stock based compensation	15,631		15,631				15,631
Other transactions with noncontrolling interests						2,187	2,187
Contributions from noncontrolling interests						3,150	3,150
Distributions to noncontrolling interests						(31,927)	(31,927)
BALANCE at Dec. 31, 2018	4,077,800	1,570	3,845,145	(726,145)	957,230	172,629	4,250,429
BALANCE at Sep. 30, 2018	4,092,780	1,570	3,846,392	(703,330)	948,148	185,594	4,278,374
Increase (Decrease) in Stockholders' Equity
Net income							158,605
Other comprehensive income (loss)							(7,488)
BALANCE at Mar. 31, 2019	4,199,936	1,573	3,904,298	(711,021)	1,005,086	194,938	4,394,874
BALANCE at Dec. 31, 2018	4,077,800	1,570	3,845,145	(726,145)	957,230	172,629	4,250,429
Increase (Decrease) in Stockholders' Equity
Net income	77,845				77,845	15,674	93,519
Other comprehensive income (loss)	15,124			15,124		145	15,269
Issuance of stock	43,232	14	43,218				43,232
Repurchases of stock	(30,227)	(11)	(227)		(29,989)		(30,227)
Stock based compensation	16,162		16,162				16,162
Other transactions with noncontrolling interests						13,735	13,735
Distributions to noncontrolling interests						(7,245)	(7,245)
BALANCE at Mar. 31, 2019	$ 4,199,936	$ 1,573	$ 3,904,298	$ (711,021)	$ 1,005,086	$ 194,938	$ 4,394,874

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 158,605	$ 16,658
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Depreciation and amortization	128,716	133,483
Equity in earnings of unconsolidated joint ventures	(38,467)	(42,758)
Distribution of earnings from unconsolidated joint ventures	31,222	72,513
Non-cash stock compensation	31,793	37,196
Prepayment premium on redemption of unsecured senior notes		34,504
Impairment of assets held for sale, including goodwill		168,178
Foreign currency translation	(2,565)	(27,414)
Write-off of debt issuance costs		7,048
Other	4,391	1,245
Changes in operating assets and liabilities, net of effects of acquisitions:
Accounts receivable and contract assets	(232,881)	(159,872)
Prepaid expenses and other assets	10,393	(54,408)
Accounts payable	(131,286)	49,305
Accrued expenses and other current liabilities	(18,915)	(53,028)
Contract liabilities	31,670	69,033
Other long-term liabilities	(65,620)	(80,860)
Net cash (used in) provided by operating activities	(92,944)	170,823
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from purchase price adjustment to business acquisition		2,203
Cash acquired from consolidation of joint venture		7,630
Investment in unconsolidated joint ventures	(77,303)	(66,034)
Return of investment in unconsolidated joint ventures	14,002	10,442
Proceeds from sale of investments	5,626	161
Payments for purchase of investments	(3,223)
Proceeds from disposal of property and equipment	5,372	13,499
Payments for capital expenditures	(49,817)	(55,701)
Net cash used in investing activities	(105,343)	(87,800)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from borrowings under credit agreements	4,504,215	5,713,366
Repayments of borrowings under credit agreements	(4,269,095)	(4,836,488)
Redemption of unsecured senior notes		(800,000)
Prepayment premium on redemption of unsecured senior notes		(34,504)
Cash paid for debt and equity issuance costs	(104)	(10,386)
Proceeds from issuance of common stock	14,542	15,570
Proceeds from exercise of stock options		3,194
Payments to repurchase common stock	(82,574)	(27,237)
Net distributions to noncontrolling interests	(36,022)	(24,058)
Other financing activities	7,674	(23,722)
Net cash provided by (used in) financing activities	138,636	(24,265)
EFFECT OF EXCHANGE RATE CHANGES ON CASH	(204)	6,105
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS	(59,855)	64,863
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	886,733	802,362
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$ 826,878	$ 867,225

Basis of Presentation

Basis of Presentation	6 Months Ended
	Mar. 31, 2019
Basis of Presentation
Basis of Presentation	1. Basis of Presentation 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 intercompany 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, 2018 (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 United States (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. The consolidated financial statements included in this report have been prepared consistently with the accounting policies described in the Annual Report, except as noted, and should be read together with the Annual Report. The results of operations for the three and six months ended March 31, 2019 are not necessarily indicative of the results to be expected for the fiscal year ending September 30, 2019. 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	6 Months Ended
	Mar. 31, 2019
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 Company adopted the new standard on October 1, 2018, using the modified retrospective method, which resulted in an adjustment to retained earnings of $7.0 million, net of tax. Detailed disclosures regarding the adoption and other required disclosures can be found in Note 4. In February 2016, the FASB issued new accounting guidance which changes accounting requirements 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 new 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 some practical expedients. The Company is currently evaluating the impact that the new guidance will have on its consolidated financial statements. In June 2016, the FASB issued a new credit loss standard that changes the impairment model for most financial assets and some 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 accounting guidance clarifying how entities should classify cash receipts and cash payments on the statement of cash flows. The new 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 Company adopted the new standard on October 1, 2018 and the adoption of the standard did not have a material impact on its statement of cash flows. In October 2016, the FASB issued additional guidance regarding accounting for intra-entity transfers of assets other than inventory. The new guidance will require companies to account for the income tax consequences of intra-entity transfers of assets other than inventory in the period the transfer occurs. The Company adopted this guidance on October 1, 2018, and the adoption resulted in a $5.5 million reduction to other non-current assets and retained earnings. In January 2017, the FASB issued new accounting guidance that changes the definition of a business to assist companies with evaluating when a set of transferred assets and activities is a business. This guidance requires the buyer to evaluate if substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or group of assets. The Company elected to adopt this guidance on July 1, 2018 and the adoption of this guidance did not have a material impact on the Company’s consolidated financial statements. In January 2017, the FASB issued new accounting guidance to simplify the test for goodwill impairment. This guidance eliminates step two from the goodwill impairment test. Under the new guidance, an entity should recognize an impairment charge for the amount by which the carrying amount of a reporting unit exceeds its fair value. However, the loss recognized should not exceed the total amount of goodwill allocated to the reporting unit. The Company early adopted the new guidance on January 1, 2018 and the adoption of this guidance did not have a material impact on the Company’s consolidated financial statements. In March 2017, the FASB issued new guidance on how employers that sponsor defined benefit pension or other postretirement benefit plans present the net periodic benefit cost in the income statement. Under the new guidance, employers will present the service cost component of net periodic benefit cost in the same income statement line items as other employee compensation costs. The new guidance was effective for the Company on October 1, 2018. Adoption of the new guidance did not have a material impact on the Company’s consolidated financial statements. In August 2017, the FASB issued new accounting guidance on derivatives and hedging. This guidance better aligns an entity’s risk management activities and financial reporting for hedging relationships through change to both the designation and measurement guidance for qualifying hedging relationships and the presentation of hedging results. The Company early adopted the guidance on January 1, 2018 and the adoption of this guidance did not have a material impact on the Company’s consolidated financial statements.

Business Acquisitions, Goodwill

Business Acquisitions, Goodwill and Intangible Assets	6 Months Ended
	Mar. 31, 2019
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, 2018 for a total consideration of $5.6 million, which was accounted for under the acquisition method. Acquired tangible and intangible assets and liabilities were recognized on the acquisition date 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. In the second quarter of fiscal 2018, management approved a plan to sell non-core oil and gas assets in North America, included in the Company’s Construction Services segment (the Disposal Group). The Company classified the related assets and liabilities of the Disposal Group as held for sale in the consolidated balance sheet. In the third quarter of fiscal 2018, the Company sold a portion of the assets in the Disposal Group and recognized a $2.1 million loss on disposal. The remaining unsold portion of the Disposal Group remains classified as held for sale. The Company recorded losses related to the remeasurement of the Disposal Group based on estimated fair value less costs to sell resulting in total asset impairments of $168.2 million, recorded in Impairment of assets held for sale, including goodwill in the second quarter of fiscal 2018. Fair value was estimated using Level 3 inputs, such as forecasted cash flows, and Level 2 inputs, including bid prices from potential buyers. In connection with the classification of the Disposal Group as held for sale, the Company tested the amount of goodwill and other intangible assets allocated to the Disposal Group for impairment. The Company recorded an impairment of goodwill during the year ended September 30, 2018 of $125.4 million and an impairment of intangible and other noncurrent assets of $42.8 million. As of March 31, 2019, current assets held for sale were primarily comprised of accounts receivable of $37.2 million and property, plant and equipment of $17.5 million. As of March 31, 2019, current liabilities held for sale were primarily comprised of accounts payable of $17.0 million. The Company expects to complete the sale of the remaining Disposal Group assets within the next quarter. The changes in the carrying value of goodwill by reportable segment for the six months ended March 31, 2019 were as follows: Foreign September 30, Exchange March 31, 2018 Impact 2019 (in millions) Design and Consulting Services $ 3,189.2 $ (9.1) $ 3,180.1 Construction Services 1,008.9 (4.0) 1,004.9 Management Services 1,723.0 0.2 1,723.2 Total $ 5,921.1 $ (12.9) $ 5,908.2 The gross amounts and accumulated amortization of the Company’s acquired identifiable intangible assets with finite useful lives as of March 31, 2019 and September 30, 2018, included in intangible assets—net, in the accompanying consolidated balance sheets, were as follows: March 31, 2019 September 30, 2018 Gross Accumulated Intangible Gross Accumulated Intangible Amortization Amount Amortization Assets, Net Amount Amortization Assets, Net Period (in millions) (years) Backlog and customer relationships $ 1,285.7 $ (1,009.1) $ 276.6 $ 1,285.1 $ (966.0) $ 319.1 1 - 11 Trademark / tradename 18.3 (17.7) 0.6 18.3 (17.5) 0.8 0.3 - 2 Total $ 1,304.0 $ (1,026.8) $ 277.2 $ 1,303.4 $ (983.5) $ 319.9 Amortization expense of acquired intangible assets included within cost of revenue was $43.3 million and $50.8 million for the six months ended March 31, 2019 and 2018, respectively. The following table presents estimated amortization expense of existing intangible assets for the remainder of fiscal 2019 and for the succeeding years: Fiscal Year (in millions) 2019 (six months remaining) $ 41.5 2020 69.6 2021 56.6 2022 43.9 2023 39.5 Thereafter 26.1 Total $ 277.2

Revenue Recognition

Revenue Recognition	6 Months Ended
	Mar. 31, 2019
Revenue Recognition
Revenue Recognition	4. Revenue Recognition On October 1, 2018, the Company adopted FASB Accounting Standards Codification (ASC) 606 on a modified retrospective basis, which amended the accounting standards for revenue recognition. As a result, the new guidance was applied retrospectively to contracts which were not completed as of October 1, 2018. Contracts completed prior to October 1, 2018 were accounted for using the guidance in effect at that time. The cumulative effect of applying the new guidance was recorded as a reduction to retained earnings at October 1, 2018 of $7.0 million, net of tax. Consistent with the modified retrospective transition approach, the comparative period was not adjusted to conform with current period presentation. The adjustment was primarily related to segmenting or combining contracts by performance obligations identified under the criteria of the new standard. Revenue recognized during the six months ended March 31, 2019 increased $3.3 million, net of tax, due to the adoption of the new standard primarily in the Construction Services segment. The new accounting guidance establishes principles for recognizing revenue upon the transfer of control of promised goods or services to customers, in an amount that reflects the expected consideration received in exchange for those goods or services. The Company generally recognizes revenues over time as performance obligations are satisfied. The Company generally measures its progress to completion using an input measure of total costs incurred divided by total costs expected to be incurred. In the course of providing its services, the Company routinely subcontracts for services and incurs other direct costs on behalf of its clients. These costs are passed through to clients and, in accordance with GAAP, are included in the Company’s revenue and cost of revenue. Recognition of revenue and profit is dependent upon a number of factors, including the accuracy of a variety of estimates made at the balance sheet date, such as engineering progress, material quantities, the achievement of milestones, penalty provisions, labor productivity and cost estimates. Additionally, the Company is required to make estimates for the amount of consideration to be received, including bonuses, awards, incentive fees, claims, unpriced change orders, penalties, and liquidated damages. Variable consideration is included in the estimate of the transaction price only to the extent that a significant reversal would not be probable. Management continuously monitors factors that may affect the quality of its estimates, and material changes in estimates are disclosed accordingly. The following summarizes the Company’s major contract types: Cost Reimbursable Contracts Cost reimbursable contracts include cost-plus fixed fee, cost-plus fixed rate, and time-and-materials price contracts. Under cost-plus contracts, the Company charges clients for its costs, including both direct and indirect costs, plus a negotiated fee or rate. The Company recognizes revenue based on actual direct costs incurred and the applicable fixed rate or portion of the fixed fee earned as of the balance sheet date. Under time-and-materials price contracts, the Company negotiates hourly billing rates and charges its clients based on the actual time that it expends on a project. In addition, clients reimburse the Company for materials and other direct incidental expenditures incurred in connection with its performance under the contract. The Company may apply a practical expedient to recognize revenue in the amount in which it has the right to invoice if its right to consideration is equal to the value of performance completed to date. Guaranteed Maximum Price Contracts (GMP) GMP contracts share many of the same contract provisions as cost-plus and fixed-price contracts. As with cost-plus contracts, clients are provided a disclosure of all the project costs, and a lump sum or percentage fee is separately identified. The Company provides clients with a guaranteed price for the overall project (adjusted for change orders issued by clients) and a schedule including the expected completion date. Cost overruns or costs associated with project delays in completion could generally be the Company’s responsibility. For many of the Company’s commercial or residential GMP contracts, the final price is generally not established until the Company has subcontracted a substantial percentage of the trade contracts with terms consistent with the master contract, and it has negotiated additional contractual limitations, such as waivers of consequential damages as well as aggregate caps on liabilities and liquidated damages. Revenue is recognized for GMP contracts as project costs are incurred relative to total estimated project costs. Fixed-Price Contracts Fixed price contracts include both lump-sum and fixed-unit price contracts. Under lump-sum contracts, the Company performs all the work under the contract for a specified fee. Lump-sum contracts are typically subject to price adjustments if the scope of the project changes or unforeseen conditions arise. Under fixed-unit price contracts, the Company performs a number of units of work at an agreed price per unit with the total payment under the contract determined by the actual number of units delivered. Revenue is recognized for fixed-price contracts using the input method measured on a cost-to-cost basis. The following tables present the Company’s revenues disaggregated by revenue sources: Three months ended Six months ended March 31, March 31, March 31, March 31, 2019 2018 2019 2018 (in millions) Cost reimbursable $ 2,567.9 $ 2,251.7 $ 5,139.5 $ 4,608.9 Guaranteed maximum price 1,003.6 1,149.8 2,027.6 2,328.4 Fixed price 1,468.5 1,389.4 2,910.4 2,764.4 Total revenue $ 5,040.0 $ 4,790.9 $ 10,077.5 $ 9,701.7 Three months ended Six months ended March 31, March 31, March 31, March 31, 2019 2018 2019 2018 (in millions) Americas $ 4,025.7 $ 3,784.8 $ 8,096.1 $ 7,713.5 Europe, Middle East, Africa 577.1 632.4 1,127.2 1,221.7 Asia Pacific 437.2 373.7 854.2 766.5 Total revenue $ 5,040.0 $ 4,790.9 $ 10,077.5 $ 9,701.7 Revenues in Europe, Middle East, Africa and Asia Pacific are primarily reported in the Company's DCS segment. As of March 31, 2019, the Company had allocated $22.9 billion of transaction price to unsatisfied or partially satisfied performance obligations, of which approximately 55% is expected to be satisfied within the next twelve months. The Company’s timing of revenue recognition may not be consistent with its rights to bill and collect cash from its clients. Those rights are generally dependent upon advance billing terms, milestone billings based on the completion of certain phases of work or when services are performed. The Company’s accounts receivable represent amounts billed to clients that have yet to be collected and represent an unconditional right to cash from its clients. Contract assets represent the amount of contract revenue recognized but not yet billed pursuant to contract terms or accounts billed after the balance sheet date. Contract liabilities represent billings as of the balance sheet date, as allowed under the terms of a contract, but not yet recognized as contract revenue pursuant to the Company’s revenue recognition policy. Net accounts receivable consisted of the following: March 31, September 30, 2019 2018 (in millions) Billed $ 2,685.1 $ 2,697.7 Contract retentions 652.4 661.7 Total accounts receivable—gross 3,337.5 3,359.4 Allowance for doubtful accounts (51.6) (51.6) Total accounts receivable—net $ 3,285.9 $ 3,307.8 Substantially all contract assets as of March 31, 2019 and September 30, 2018 are expected to be billed and collected within twelve months, except for claims. Significant claims recorded in contract assets and other non-current assets were approximately $360 million and $266 million as of March 31 , 2019 and September 30, 2018, respectively, and included amounts related to the DOE Deactivation, Demolition, and Removal Project and Refinery Turnaround Project discussed further in Note 14. Contract retentions represent amounts invoiced to clients where payments have been withheld from progress payments until the contracted work has been completed and approved by the client. 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 March 31, 2019 and September 30, 2018. The Company sold trade receivables to financial institutions, of which $357.8 million and $334.2 million were outstanding as of March 31, 2019 and September 30, 2018, 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	6 Months Ended
	Mar. 31, 2019
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, operations and maintenance services, and invest in real estate projects. 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 some 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 venture’s economic performance, including powers granted to the joint venture’s program manager, powers contained in the joint venture governing board and 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 financial information of the consolidated joint ventures is as follows: March 31, 2019 September 30, (unaudited) 2018 (in millions) Current assets $ 961.5 $ 1,013.7 Non-current assets 181.2 192.7 Total assets $ 1,142.7 $ 1,206.4 Current liabilities $ 683.2 $ 724.2 Non-current liabilities 12.5 12.7 Total liabilities 695.7 736.9 Total AECOM equity 252.8 284.2 Noncontrolling interests 194.2 185.3 Total owners’ equity 447.0 469.5 Total liabilities and owners’ equity $ 1,142.7 $ 1,206.4 Total revenue of the consolidated joint ventures was $1,244.4 million and $1,202.6 million for the six months ended March 31, 2019 and 2018, 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, as derived from their unaudited financial statements, is as follows: March 31, September 30, 2019 2018 (in millions) Current assets $ 1,790.4 $ 1,903.3 Non-current assets 1,008.5 938.3 Total assets $ 2,798.9 $ 2,841.6 Current liabilities $ 1,551.8 $ 1,658.5 Non-current liabilities 246.5 224.3 Total liabilities 1,798.3 1,882.8 Joint ventures’ equity 1,000.6 958.8 Total liabilities and joint ventures’ equity $ 2,798.9 $ 2,841.6 AECOM’s investment in joint ventures $ 338.4 $ 310.7 Six Months Ended March 31, March 31, 2019 2018 (in millions) Revenue $ 2,404.9 $ 2,814.8 Cost of revenue 2,313.3 2,683.0 Gross profit $ 91.6 $ 131.8 Net income $ 90.5 $ 127.7 Summary of AECOM’s equity in earnings of unconsolidated joint ventures is as follows: Six Months Ended March 31, March 31, 2019 2018 (in millions) Pass through joint ventures $ 16.0 $ 20.2 Other joint ventures 22.4 22.6 Total $ 38.4 $ 42.8

Pension Benefit Obligations

Pension Benefit Obligations	6 Months Ended
	Mar. 31, 2019
Pension Benefit Obligations
Pension Benefit Obligations	6. Pension Benefit Obligations In the U.S., the Company sponsors various qualified defined benefit pension plans. Benefits under these plans generally are based on the employee’s years of creditable service and compensation; however, 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 components of net periodic benefit cost other than the service cost component are included in other income (expense) in the consolidated statement of operations. The following table details the components of net periodic benefit cost for the Company’s pension plans for the three and six months ended March 31, 2019 and 2018: Three Months Ended Six Months Ended March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 U.S. Int’l U.S. Int’l U.S. Int’l U.S. Int’l (in millions) Components of net periodic benefit cost: Service costs $ — $ 0.1 $ 1.2 $ 0.3 $ — $ 0.2 $ 2.4 $ 0.6 Interest cost on projected benefit obligation 6.0 7.7 5.2 8.3 11.9 15.1 10.4 16.2 Expected return on plan assets (6.9) (9.8) (7.8) (11.1) (13.7) (19.3) (15.7) (21.8) Amortization of prior service cost — (0.1) — (0.1) — (0.1) — (0.1) Amortization of net loss 0.9 1.1 1.0 2.2 1.8 2.1 2.0 4.2 Settlement loss recognized 0.1 — — 0.1 0.1 0.1 — 0.2 Net periodic benefit cost $ 0.1 $ (1.0) $ (0.4) $ (0.3) $ 0.1 $ (1.9) $ (0.9) $ (0.7) The total amounts of employer contributions paid for the six months ended March 31, 2019 were $4.9 million for U.S. plans and $14.9 million for non-U.S. plans. The expected remaining scheduled annual employer contributions for the fiscal year ending September 30, 2019 are $9.4 million for U.S. plans and $12.4 million for non-U.S. plans. In the first quarter of fiscal 2019, the United Kingdom High Court ruled that the formulas used to determine guaranteed minimum pension benefits violated gender pay equality laws. As a result, the Company may be required to retroactively increase benefit levels for plan participants, which would be initially recognized in other comprehensive income as an increase to prior service cost. The Company is in the process of seeking actuarial and legal advice to understand the impact of this ruling.

Debt

Debt	6 Months Ended
	Mar. 31, 2019
Debt
Debt	7. Debt Debt consisted of the following: March 31, September 30, 2019 2018 (in millions) 2014 Credit Agreement $ 1,669.0 $ 1,433.8 2014 Senior Notes 800.0 800.0 2017 Senior Notes 1,000.0 1,000.0 URS Senior Notes 247.9 247.9 Other debt 216.9 191.8 Total debt 3,933.8 3,673.5 Less: Current portion of debt and short-term borrowings (158.3) (143.1) Less: Unamortized debt issuance costs (41.9) (46.7) Long-term debt $ 3,733.6 $ 3,483.7 The following table presents, in millions, scheduled maturities of the Company’s debt as of March 31, 2019 : Fiscal Year 2019 (six months remaining) $ 100.9 2020 104.9 2021 344.9 2022 310.1 2023 736.2 Thereafter 2,336.8 Total $ 3,933.8 2014 Credit Agreement The Company entered into a credit agreement (Credit Agreement) on October 17, 2014, which, as amended to date, consists of (i) a term loan A facility that includes a $510 million (US) term loan A facility with a term expiring on March 13, 2021 and a $500 million Canadian dollar (CAD) term loan A facility and a $250 million Australian dollar (AUD) term loan A facility, each with terms expiring on March 13, 2023; (ii) a $600 million term loan B facility with a term expiring on March 13, 2025; and (iii) a revolving credit facility in an aggregate principal amount of $1.35 billion with a term expiring on March 13, 2023. 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 conditions specified in the Credit Agreement and Security Agreement. The Credit Agreement contains covenants that limit the ability of the Company and the ability of some 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 various 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 Company’s acquisition of URS Corporation (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 the Company’s 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 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 the Company’s AECOM Capital business. On March 31, 2017, the Credit Agreement was amended to (1) expand the ability of restricted subsidiaries to borrow under “Incremental Term Loans;” (2) revise the definition of “Working Capital” as used in “Excess Cash Flow;” (3) revise the definitions for “Consolidated EBITDA” and “Consolidated Funded Indebtedness” to reflect the expected gain and debt repayment of an AECOM Capital disposition, which disposition was completed on April 28, 2017; and (4) amend provisions relating to the Company’s ability to undertake internal restructuring steps to accommodate changes in tax laws. On March 13, 2018, the Credit Agreement was amended to (1) refinance the existing term loan A facility to include a $510 million (US) term loan A facility with a term expiring on March 13, 2021 and a $500 million CAD term loan A facility and a $250 million AUD term loan A facility each with terms expiring on March 13, 2023; (2) issue a new $600 million term loan B facility to institutional investors with a term expiring on March 13, 2025; (3) increase the capacity of the Company’s revolving credit facility from $1.05 billion to $1.35 billion and extend its term until March 13, 2023; (4) reduce the Company’s interest rate borrowing costs as follows: (a) the term loan B facility, at the Company’s election, Base Rate (as defined in the Credit Agreement) plus 0.75% or Eurocurrency Rate (as defined in the Credit Agreement) plus 1.75%, (b) the (US) term loan A facility, at the Company’s election, Base Rate plus 0.50% or Eurocurrency Rate plus 1.50%, and (c) the Canadian (CAD) term loan A facility, the Australian (AUD) term loan A facility, and the revolving credit facility, an initial rate of, at the Company’s election, Base Rate plus 0.75% or Eurocurrency Rate plus 1.75%, and after the end of the Company’s fiscal quarter ended June 30, 2018, Base Rate loans plus a margin ranging from 0.25% to 1.00% or Eurocurrency Rate plus a margin from 1.25% to 2.00%, based on the Consolidated Leverage Ratio (as defined in the Credit Agreement); and (5) revise covenants including increasing the amounts available under the restricted payment negative covenant and revising the Maximum Consolidated Leverage Ratio (as defined in the Credit Agreement) to include a 4.5 leverage ratio through September 30, 2019 after which the leverage ratio steps down to 4.0. On November 13, 2018, the Credit Agreement was amended to revise the definition of "Consolidated EBITDA" to increase corporate restructuring allowances and provide for additional flexibility under the covenants for non-core asset dispositions, among other changes. 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 4.1 at March 31, 2019. The Company’s Consolidated Interest Coverage Ratio was 4.6 at March 31, 2019. As of March 31, 2019, the Company was in compliance with the covenants of the Credit Agreement. At March 31, 2019 and September 30, 2018, outstanding standby letters of credit totaled $25.6 million and $28.7 million, respectively, under the Company’s revolving credit facilities. As of March 31, 2019 and September 30, 2018, the Company had $1,039.3 million and $1,321.3 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 the unsecured 5.750% Senior Notes due 2022 (2022 Notes) and $800,000,000 aggregate principal amount of the unsecured 5.875% Senior Notes due 2024 (the 2024 Notes and, together with the 2022 Notes, the 2014 Senior Notes). On November 2, 2015, the Company completed an exchange offer to exchange the unregistered 2014 Senior Notes for registered notes, as well as all related guarantees. On March 16, 2018, the Company redeemed all of the 2022 Notes at a redemption price that was 104.313% of the principal amount outstanding plus accrued and unpaid interest. The March 16, 2018 redemption resulted in a $34.5 million prepayment premium, which was included in interest expense. As of March 31, 2019 , the estimated fair value of the 2024 Notes was approximately $844.0 million. The fair value of the 2024 Notes as of March 31, 2019 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 2024 Notes. 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 2024 Notes were issued contains customary events of default, including, among other things, payment default, exchange default, failure to provide notices thereunder and provisions related to bankruptcy events. The indenture also contains customary negative covenants. The Company was in compliance with the covenants relating to the 2024 Notes as of March 31, 2019. 2017 Senior Notes On February 21, 2017, the Company completed a private placement offering of $1,000,000,000 aggregate principal amount of its unsecured 5.125% Senior Notes due 2027 (the 2017 Senior Notes) and used the proceeds to immediately retire the remaining $127.6 million outstanding on the then existing term loan B facility as well as repay $600 million of the term loan A facility and $250 million of the revolving credit facility under its Credit Agreement. On June 30, 2017, the Company completed an exchange offer to exchange the unregistered 2017 Senior Notes for registered notes, as well as related guarantees. As of March 31, 2019, the estimated fair value of the 2017 Senior Notes was approximately $965.0 million. The fair value of the 2017 Senior Notes as of March 31, 2019 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 2017 Senior Notes. Interest is payable on the 2017 Senior Notes at a rate of 5.125% per annum. Interest on the 2017 Senior Notes is payable semi-annually on March 15 and September 15 of each year, commencing on September 15, 2017. The 2017 Senior Notes will mature on March 15, 2027. At any time and from time to time prior to December 15, 2026, the Company may redeem all or part of the 2017 Senior 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 to the redemption date. In addition, at any time and from time to time prior to March 15, 2020, the Company may redeem up to 35% of the original aggregate principal amount of the 2017 Senior Notes with the proceeds of one or more qualified equity offerings, at a redemption price equal to 105.125%, plus accrued and unpaid interest. Furthermore, at any time on or after December 15, 2026, the Company may redeem on one or more occasions all or part of the 2017 Senior Notes at a redemption price equal to 100% of their principal amount, plus accrued and unpaid interest. The indenture pursuant to which the 2017 Senior Notes were issued contains customary events of default, including, among other things, payment default, exchange default, failure to provide notices thereunder and provisions related to bankruptcy events. The indenture also contains customary negative covenants. The Company was in compliance with the covenants relating to the 2017 Senior Notes as of March 31, 2019. URS Senior Notes In connection with the acquisition of URS on October 17, 2014, the Company assumed the URS 3.85% Senior Notes due 2017 (2017 URS Senior Notes) and the URS 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 remaining 2017 URS Senior Notes matured and were fully redeemed on April 3, 2017 for $179.2 million using proceeds from a $185 million delayed draw term loan A facility tranche under the Credit Agreement. The 2022 URS Senior Notes are general unsecured senior obligations of AECOM Global II, LLC as successor in interest to URS and are fully and unconditionally guaranteed on a joint-and-several basis by some former URS domestic subsidiary guarantors. As of March 31, 2019 , the estimated fair value of the 2022 URS Senior Notes was approximately $252.2 million. The carrying value of the 2022 URS Senior Notes on the Company’s Consolidated Balance Sheets as of March 31, 2019 was $247.9 million. The fair value of the 2022 URS Senior Notes as of March 31, 2019 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 2022 URS Senior Notes. As of March 31, 2019 , the Company was in compliance with the covenants relating to the 2022 URS Senior Notes. Other Debt and Other Items 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 in connection with general and professional liability insurance programs and for contract performance guarantees. At March 31, 2019 and September 30, 2018, these outstanding standby letters of credit totaled $486.3 million and $486.4 million, respectively. As of March 31, 2019 , the Company had $499.1 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 six months ended March 31, 2019 and 2018 was 4.7% and 4.7%, respectively. Interest expense in the consolidated statements of operations included amortization of deferred debt issuance costs for the three and six months ended March 31, 2019 of $2.4 million and $4.8 million, respectively, and for the three and six months ended March 31, 2018 of $9.8 million and $12.6 million, respectively.

Derivative Financial Instrument

Derivative Financial Instruments and Fair Value Measurements	6 Months Ended
	Mar. 31, 2019
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 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 in U.S. dollar (USD), Canadian dollar (CAD), and Australian dollar (AUD), fixed rates and related expiration dates of the Company’s outstanding interest rate swap agreements were as follows: March 31, 2019 Notional Amount Notional Amount Fixed Expiration Currency (in millions) Rate Date AUD 200.0 2.19 % February 2021 CAD 400.0 2.49 % September 2022 USD 200.0 2.60 % February 2023 September 30, 2018 Notional Amount Notional Amount Fixed Expiration Currency (in millions) Rate Date AUD 200.0 2.19 % February 2021 CAD 400.0 2.49 % September 2022 USD 200.0 2.60 % February 2023 The notional principal of outstanding foreign currency contracts to purchase AUD was AUD 41.5 million (or $31.3 million) and AUD 65.2 million (or $49.1 million) at March 31, 2019 and September 30, 2018, 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 six months ended March 31, 2019 and 2018. Fair Value Measurements The Company’s non-pension financial assets and liabilities recorded at fair value relate to derivative instruments and were not material at March 31, 2019 or September 30, 2018. See Note 13 for accumulated balances and reporting period activities of derivatives related to reclassifications out of accumulated other comprehensive loss for the six months ended March 31, 2019 and 2018. 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 options were immaterial for all periods presented. Additionally, there were no material 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 financial performance thresholds are achieved in the future. The fair value of the contingent consideration liability, net of amounts paid, as of March 31, 2019 and September 30, 2018 was $11 million and $11 million, respectively. This liability is a Level 3 fair value measurement recorded within other accrued liabilities, and was valued based on estimated future net cash flows. 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	6 Months Ended
	Mar. 31, 2019
Share-based Payments
Share-based Payments	9. Share-based Payments The fair value of an outstanding employee stock option award is estimated on the date of grant. The expected term of the stock option granted represents the period of time the stock option is 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 stock option on the grant date. The Company uses historical data as a basis to estimate the probability of forfeitures. Stock option activity for the six months ended March 31 was as follows: 2019 2018 Shares of stock Weighted average Shares of stock Weighted average under options exercise price under options exercise price (in millions) (in millions) Outstanding at September 30 0.6 $ 31.62 0.7 $ 31.11 Options granted — — — — Options exercised — — (0.1) 27.79 Options forfeited or expired (0.5) 31.62 — — Outstanding at March 31 0.1 31.62 0.6 31.62 Vested and expected to vest in the future as of March 31 0.1 $ 31.62 0.6 $ 31.62 The Company grants stock units to employees under its Performance Earnings Program (PEP), whereby units are earned and issued dependent upon meeting established cumulative performance 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 was $27.51 and $37.69 during the six months ended March 31, 2019 and 2018, respectively. The weighted average grant date fair value of restricted stock unit awards was $27.67 and $36.91 during the six months ended March 31, 2019 and 2018, respectively. Total compensation expense related to these share-based payments including stock options was $31.8 million and $37.2 million during the six months ended March 31, 2019 and 2018, respectively. Unrecognized compensation expense related to total share-based payments outstanding as of March 31, 2019 and September 30, 2018 was $109.0 million and $94.3 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	6 Months Ended
	Mar. 31, 2019
Income Taxes
Income Taxes	10. Income Taxes The Company's effective tax rate was (8.7)% and 130.4% for the six months ended March 31, 2019 and 2018, respectively. The most significant items contributing to the difference between the statutory U.S. federal income tax rate of 21.0% and the Company's effective tax rate for the six-month period ended March 31, 2019 was a $38.1 million benefit related to the release of a valuation allowance on foreign tax credits during the first quarter of fiscal 2019 and a $12.3 million benefit related to income tax credits and incentives, partially offset by state income tax expense of $7.4 million. These items are expected to have a continuing impact on the effective tax rate for the remainder of the fiscal year, except for the benefit related to the release of the valuation allowance. The most significant items contributing to the difference between the statutory U.S. federal income tax rate of 24.5% and the Company’s effective tax rate for the six-month period ended March 31, 2018 were a $41.7 million net benefit related to one-time U.S. federal tax law changes, benefits of $36.0 million related to changes in uncertain tax positions primarily in the U.S. and Canada, and a benefit of $13.7 million related to income tax credits and incentives, partially offset by tax expense of $33.9 million related to the goodwill impairment charge, which was non-deductible for tax purposes. During the first quarter of fiscal 2019, a valuation allowance in the amount of $38.1 million related to foreign tax credits was released due to sufficient positive evidence obtained during the quarter. The positive evidence included the issuance of regulations during the quarter related to the Tax Cuts and Jobs Act (Tax Act) and forecasting the utilization of the foreign tax credits within the foreseeable future. The Company evaluated the new positive evidence against any negative evidence to determine the valuation allowance was no longer needed. During the second quarter of fiscal 2018, the Company recorded an income tax benefit of $26.2 million primarily as a result of a favorable settlement of uncertain tax positions in the U.S. related to R&D credits for tax years 2012, 2013 and 2014 and the remeasurement of its U.S. R&D credit uncertain tax positions for future years based on the favorable outcome of the examination. During the first quarter of fiscal 2018, President Trump signed the Tax Act into law. The Tax Act reduced the Company’s U.S. federal corporate tax rate from 35% to 21%, required companies to pay a one-time transition tax on accumulated earnings of foreign subsidiaries, created new taxes on certain foreign sourced earnings, and eliminated or reduced certain deductions. Other significant provisions included a base erosion anti-abuse tax (BEAT) on excessive amounts paid to foreign related parties and a minimum tax on global intangible low-taxed income (GILTI). The Company has made an accounting policy election to recognize the current tax impact of GILTI as a period cost and has included the impact in the estimated annual effective tax rate as of March 31, 2019. Given the significance of the Tax Act, the SEC staff issued Staff Accounting Bulletin No. 118 (SAB 118), which allowed registrants to record provisional amounts during a one year “measurement period” similar to that used when accounting for business combinations. The Company completed its accounting for the tax effects of enactment of the Tax Act during the first quarter of fiscal 2019. 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 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 is currently under tax audit in several jurisdictions and believes the outcomes which are reasonably possible within the next twelve months, including lapses in statutes of limitations, could result in adjustments, but 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 $1.8 billion are able to and intended to be reinvested indefinitely. The Company has determined it will continue to indefinitely reinvest the earnings of certain foreign subsidiaries and therefore will continue to account for these undistributed earnings based on existing accounting under ASC 740 and not accrue additional tax outside of the one-time transition tax described above. There may also be additional U.S. or foreign income tax liability upon repatriation, although the calculation of such additional taxes is not practicable.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Mar. 31, 2019
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 and six months ended March 31, 2019 , equity awards excluded from the calculation of potential common shares were not significant . The computation of diluted loss per share for the three and six months ended March 31, 2018 excludes 2.7 million and 3.3 million, respectively, of potential common shares due to their anti-dilutive effect. The following table sets forth a reconciliation of the denominators for basic and diluted earnings per share: Three Months Ended Six Months Ended March 31, March 31, March 31, March 31, 2019 2018 2019 2018 (in millions) Denominator for basic earnings per share 156.6 159.5 156.5 158.7 Potential common shares 1.8 — 2.5 — Denominator for diluted earnings per share 158.4 159.5 159.0 158.7

Other Financial Information

Other Financial Information	6 Months Ended
	Mar. 31, 2019
Other Financial Information
Other Financial Information	12. Other Financial Information Accrued expenses and other current liabilities consist of the following: March 31, September 30, 2019 2018 (in millions) Accrued salaries and benefits $ 878.6 $ 1,035.9 Accrued contract costs 872.1 861.0 Other accrued expenses 384.4 370.1 $ 2,135.1 $ 2,267.0 Accrued contract costs above include balances related to professional liability accruals of $468.3 million and $519.5 million as of March 31, 2019 and September 30, 2018, 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 March 31, 2019 and September 30, 2018. The Company did not have material revisions to estimates for contracts where revenue is recognized using the percentage-of-completion method during the six months ended March 31, 2019 and 2018. In the first quarter of fiscal 2019, the Company commenced a restructuring plan to improve profitability. The Company expects to incur restructuring costs of $80 million to $90 million in fiscal 2019 primarily related to personnel and real estate costs. During the first half of fiscal 2019, the Company incurred restructuring expenses of $79.2 million, including personnel and other costs of $57.1 million and real estate costs of $22.1 million, of which $39.9 million was accrued and unpaid at March 31, 2019. The Company incurred $25.6 million of severance expenses relating to restructuring activities during the six months ended March 31, 2018. 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 March 31, 2019. The entitlement resulted from pension costs that are reimbursable through government contracts in accordance with Cost Accounting Standards. The accelerated recognition resulted from an amendment to freeze pension benefits under URS Federal Services, Inc. Employees Retirement Plan. The actual amount of reimbursement may vary from the Company’s expectation.

Reclassifications out of Accumu

Reclassifications out of Accumulated Other Comprehensive Loss	6 Months Ended
	Mar. 31, 2019
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 and six months ended March 31, 2019 and 2018 related to reclassifications out of accumulated other comprehensive loss are summarized as follows (in millions): Foreign Accumulated Pension Currency Loss on Other Related Translation Derivative Comprehensive Adjustments Adjustments Instruments Loss Balances at December 31, 2018 $ (197.0) $ (524.0) $ (5.1) $ (726.1) Other comprehensive (loss) income before reclassification (5.0) 22.5 (4.6) 12.9 Amounts reclassified from accumulated other comprehensive loss 1.6 — 0.6 2.2 Balances at March 31, 2019 $ (200.4) $ (501.5) $ (9.1) $ (711.0) Foreign Accumulated Pension Currency Gain (Loss) on Other Related Translation Derivative Comprehensive Adjustments Adjustments Instruments Loss Balances at December 31, 2017 $ (279.4) $ (425.2) $ 0.4 $ (704.2) Other comprehensive (loss) income before reclassification (18.8) 15.0 (1.6) (5.4) Amounts reclassified from accumulated other comprehensive loss 2.7 — (0.1) 2.6 Balances at March 31, 2018 $ (295.5) $ (410.2) $ (1.3) $ (707.0) Foreign Accumulated Pension Currency Gain/ (Loss) on Other Related Translation Derivative Comprehensive Adjustments Adjustments Instruments Loss Balances at September 30, 2018 $ (202.3) $ (502.2) $ 1.2 $ (703.3) Other comprehensive (loss) income before reclassification (1.2) 0.7 (11.4) (11.9) Amounts reclassified from accumulated other comprehensive loss 3.1 — 1.1 4.2 Balances at March 31, 2019 $ (200.4) $ (501.5) $ (9.1) $ (711.0) Foreign Accumulated Pension Currency Loss on Other Related Translation Derivative Comprehensive Adjustments Adjustments Instruments Loss Balances at September 30, 2017 $ (281.9) $ (418.4) $ (0.4) $ (700.7) Other comprehensive (loss) income before reclassification (18.8) 8.2 (1.1) (11.7) Amounts reclassified from accumulated other comprehensive loss 5.2 — 0.2 5.4 Balances at March 31, 2018 $ (295.5) $ (410.2) $ (1.3) $ (707.0)

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Mar. 31, 2019
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 some 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 March 31, 2019, the Company was contingently liable in the amount of approximately $511.9 million in issued standby letters of credit and $5.4 billion 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 contractual obligations, including guarantees for completion of projects, repayment of debt, environmental indemnity obligations and other lender required guarantees. The Company’s investment adviser jointly manages, sponsors and owns equity interest in the AECOM-Canyon Equity Fund, L.P. (the “Fund”), in which the Company has an ongoing capital commitment to fund investments. At March 31, 2019, the Company had capital commitments of $35 million to the Fund over the next 10 years. DOE Deactivation, Demolition, and Removal Project Washington Group International, an Ohio company, the former name of one of the Company’s wholly-owned subsidiaries (AECOM E&C) 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, AECOM E&C 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 AECOM E&C and the DOE to equally share in all project costs incurred from $106 million to $146 million, and requires AECOM E&C 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, AECOM E&C has been required to perform work outside the scope of the Task Order Modification. In December 2014, AECOM E&C submitted claims against the DOE pursuant to the Contracts Disputes Acts seeking recovery of $103 million, including additional fees on changed work scope. AECOM E&C has incurred additional project costs outside the scope of the contract as a result of differing site and ground conditions and intends to submit additional formal claims against the DOE. Due to significant delays and uncertainties about responsibilities for the scope of remaining work, final project completion costs and other associated costs have exceeded $100 million over the contracted and claimed amounts. AECOM E&C assets and liabilities, including the value of the above costs and claims, were measured at their fair value on October 17, 2014, the date AECOM acquired AECOM E&C’s parent company, which measurement has been reevaluated to account for developments pertaining to this matter. Deconstruction and decommissioning activities are completed and site restoration activities are nearing completion. AECOM E&C increased its receivable during the quarter ended June 30, 2018. AECOM E&C can provide no certainty that it will recover the claims submitted against the DOE in December 2014, any future claims or any other project costs after December 2014 that AECOM E&C may be obligated to incur, which could have a material adverse effect on the Company’s results of operations. SR-91 One of the Company’s wholly-owned subsidiaries, URS Corporation, a Nevada corporation, entered into a partial fixed cost and partial time and material design agreement in 2012 with a design build contractor for a state route highway construction project in Riverside County and Orange County, California. On April 1, 2017, URS Corporation filed an $8.2 million amended complaint in the Superior Court of California against the design build contractor for its failure to pay for services performed under the design agreement. On July 3, 2017, the design build contractor filed an amended cross-complaint against URS Corporation and AECOM in Superior Court alleging breaches of contract, negligent interference and professional negligence pertaining to URS Corporation’s performance of design services under the design agreement, seeking purported damages of $70 million. Subsequent discovery responses indicate that the design build contractor is seeking damages of $95 million. On May 4, 2018, the design build contractor dismissed its claims for negligent interference. On May 24, 2018, URS Corporation filed an $11.9 million second amended complaint in Superior Court against the design build contractor for its failure to pay for services performed under the design agreement. URS Corporation and AECOM cannot provide assurances that URS Corporation will be successful in the recovery of the amounts owed to it under the design agreement or in their defense against the amounts alleged under the cross-complaint that they believe are without merit and that they intend to vigorously defend against. The potential range of loss in excess of any current accrual cannot be reasonably estimated at this time primarily because the matter involves complex factual and legal issues; there is substantial uncertainty regarding any alleged damages, including due to liability of and payments, by third parties; and the matter is at a discovery stage of litigation. New York Department of Environmental Conservation The following separate matters pertain to government environmental allegations against one of the Company’s wholly-owned subsidiaries, AECOM USA, Inc. · In September 2017, AECOM USA, Inc. was advised by the New York State Department of Environmental Conservation (DEC) of allegations that it committed environmental permit violations pursuant to the New York Environmental Conservation Law (ECL) associated with AECOM USA, Inc.’s oversight of a stream restoration project for Schoharie County which could result in substantial penalties if calculated under the ECL’s maximum civil penalty provisions. AECOM USA, Inc. disputes this claim and intends to continue to defend this matter vigorously; however, AECOM USA, Inc. cannot provide assurances that it will be successful in these efforts. The potential range of loss in excess of any current accrual cannot be reasonably estimated at this time primarily because the matter involves complex and unique environmental and regulatory issues; the project site involves the oversight and involvement of various local, state and federal government agencies; there is substantial uncertainty regarding any alleged damages; and the matter is in its preliminary stage of the government’s claims and any negotiations of a consent order or other resolution. · In December 2018, AECOM USA, Inc. was advised by DEC of allegations that, during AECOM USA, Inc.’s oversight of a remedial construction project in Poughkeepsie, New York, sheen escaped a containment boom line near the east bank of the Hudson River without proper notification to DEC and an unapproved dispersant was sprayed onto the Hudson River to control odors in violation of ECL. AECOM USA, Inc. denies these allegations but is working cooperatively with DEC to resolve the matter. Illinois Power Generating Company Advatech, LLC, a joint venture 60% owned by AECOM E&C executed a fixed-cost engineering, procurement and construction contract for a flue-gas-desulfurization system at a coal-fired power plant owned by Illinois Power Generating Company, a wholly-owned subsidiary of Dynegy, Inc. (Genco). On September 2, 2016, Genco terminated Advatech's contract for convenience and Advatech subsequently submitted its final contractual invoice of approximately $81 million. Advatech filed and perfected a mechanics lien on the Genco power plant property on October 17, 2016. On December 9, 2016, Genco filed a voluntary petition under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas and its plan of reorganization was approved by the Bankruptcy Court on January 25, 2017 (the Bankruptcy Plan). Advatech's contractual invoice and mechanics lien were not extinguished per the terms of the Bankruptcy Plan and remain outstanding claims. On March 15, 2017, Advatech filed a demand for arbitration and on July 21, 2017 submitted a Statement of Claim seeking reimbursement of approximately $81 million for Genco's breach of contract and failure to reimburse Advatech for all of the cost of work performed under the contract. Arbitration proceedings occurred in October 2018. On March 25, 2019, an interim award was issued ordering Genco to pay Advatech $41 million including pre-judgment interest through March 30, 2019, plus additional interest through the date of the final award and is expected to include an attorney fee award. Refinery Turnaround Project AECOM E&C entered an agreement to perform turnaround maintenance services during a planned shutdown at a refinery in Montana. The project was completed in February 2019. Due to circumstances outside of AECOM E&C’s control, including client directed changes and delays and the refinery’s condition, AECOM E&C performed additional work outside of the original contract approximating $90 million for which AECOM E&C is pursuing recovery from the refinery owner. On March 26, 2019, the refinery owner sent a letter to AECOM E&C alleging it incurred substantial damages due to AECOM E&C’s project performance. AECOM E&C filed and perfected a $132 million construction lien against the refinery owner in April 2019 for unpaid labor and materials costs. AECOM E&C intends to vigorously prosecute and defend this matter; however, AECOM E&C cannot provide assurance that it will be successful in these efforts. The resolution of this matter and any potential range of loss in excess of any current accrual cannot be reasonably determined or estimated at this time, primarily because the matter raises complex legal issues that AECOM E&C is continuing to assess.

Reportable Segments

Reportable Segments	6 Months Ended
	Mar. 31, 2019
Reportable Segments
Reportable Segments	15. Reportable Segments The Company’s operations are organized into four reportable segments: Design and Consulting Services (DCS), Construction Services (CS), Management Services (MS), and AECOM Capital (ACAP). 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, technical assistance, and systems integration and information technology services, primarily for agencies of the U.S. government. The Company’s ACAP segment invests in real estate and public-private partnership (P3) projects. 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. The following tables set forth summarized financial information concerning the Company’s reportable segments: Design and Consulting Construction Management AECOM Reportable Segments: Services Services Services Capital Corporate Total (in millions) Three Months Ended March 31, 2019: Revenue $ 2,100.8 $ 1,917.8 $ 1,019.9 $ 1.5 $ — $ 5,040.0 Gross profit 129.8 16.7 47.4 1.5 — 195.4 Equity in earnings of joint ventures 5.5 6.8 3.9 9.7 — 25.9 General and administrative expenses — — — (1.7) (35.7) (37.4) Restructuring costs — — — — (15.9) (15.9) Operating income 135.3 23.5 51.3 9.5 (51.6) 168.0 Gross profit as a % of revenue 6.2 % 0.9 % 4.6 % — — 3.9 % Three Months Ended March 31, 2018: Revenue $ 2,004.7 $ 1,888.3 $ 897.9 $ — $ — $ 4,790.9 Gross profit (loss) 120.3 (13.3) 34.2 — — 141.2 Equity in earnings of joint ventures 2.8 1.2 9.1 — — 13.1 General and administrative expenses — — — (2.9) (27.3) (30.2) Impairment of assets held for sale, including goodwill — (168.2) — — — (168.2) Operating income (loss) 123.1 (180.3) 43.3 (2.9) (27.3) (44.1) Gross profit (loss) as a % of revenue 6.0 % (0.7) % 3.8 % — — 2.9 % Six Months Ended March 31, 2019: Revenue $ 4,130.5 $ 3,932.3 $ 2,009.3 $ 5.4 $ — $ 10,077.5 Gross profit 245.5 19.9 95.2 5.4 — 366.0 Equity in earnings of joint ventures 9.3 14.7 7.2 7.2 — 38.4 General and administrative expenses — — — (3.4) (69.9) (73.3) Restructuring costs — — — — (79.2) (79.2) Operating income 254.8 34.6 102.4 9.2 (149.1) 251.9 Gross profit as a % of revenue 5.9 % 0.5 % 4.7 % — — 3.6 % Six Months Ended March 31, 2018: Revenue $ 3,946.6 $ 4,013.8 $ 1,741.3 $ — $ — $ 9,701.7 Gross profit 198.1 13.8 65.5 — — 277.4 Equity in earnings of joint ventures 10.3 14.6 17.9 — — 42.8 General and administrative expenses — — — (5.5) (59.4) (64.9) Impairment of assets held for sale, including goodwill — (168.2) — — — (168.2) Operating income (loss) 208.4 (139.8) 83.4 (5.5) (59.4) 87.1 Gross profit as a % of revenue 5.0 % 0.3 % 3.8 % — — 2.9 % Reportable Segments: Total assets March 31, 2019 $ 7,127.8 $ 4,211.6 $ 2,683.2 $ 165.7 $ 548.7 $ 14,737.0 September 30, 2018 7,013.8 4,212.0 2,701.2 140.6 613.5 14,681.1

Condensed Consolidating Financi

Condensed Consolidating Financial Information	6 Months Ended
	Mar. 31, 2019
Condensed Consolidating Financial Information
Condensed Consolidating Financial Information	16. Condensed Consolidating Financial Information In connection with the registration of the Company’s 2014 Senior Notes that were declared effective by the SEC on September 29, 2015, AECOM became subject to the requirements of Rule 3-10 of Regulation S-X regarding financial statements of guarantors and issuers of guaranteed securities. Both the 2014 Senior Notes and the 2017 Senior Notes are fully and unconditionally guaranteed on a joint and several basis by some 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. 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) March 31, 2019 Guarantor Non-Guarantor Parent Subsidiaries Subsidiaries Eliminations Total ASSETS CURRENT ASSETS: Total cash and cash equivalents $ 1.6 $ 283.9 $ 541.4 $ — $ 826.9 Accounts receivable and contract assets—net — 2,653.6 3,059.2 — 5,712.8 Intercompany receivable 1,006.8 119.9 185.8 (1,312.5) — Prepaid expenses and other current assets 71.0 260.2 261.0 — 592.2 Current assets held for sale — — 55.0 — 55.0 Income taxes receivable 11.5 — 42.2 — 53.7 TOTAL CURRENT ASSETS 1,090.9 3,317.6 4,144.6 (1,312.5) 7,240.6 PROPERTY AND EQUIPMENT—NET 203.6 202.9 189.9 — 596.4 DEFERRED TAX ASSETS—NET 172.1 8.0 147.2 (163.6) 163.7 INVESTMENTS IN CONSOLIDATED SUBSIDIARIES 6,703.7 2,050.3 — (8,754.0) — INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES 7.6 39.3 291.5 — 338.4 GOODWILL — 3,392.7 2,515.5 — 5,908.2 INTANGIBLE ASSETS—NET — 195.4 81.8 — 277.2 OTHER NON-CURRENT ASSETS 35.5 44.8 132.2 — 212.5 TOTAL ASSETS $ 8,213.4 $ 9,251.0 $ 7,502.7 $ (10,230.1) $ 14,737.0 LIABILITIES AND STOCKHOLDERS’ EQUITY CURRENT LIABILITIES: Short-term debt $ 18.4 $ — $ 30.0 $ — $ 48.4 Accounts payable 31.1 1,597.1 953.2 — 2,581.4 Accrued expenses and other current liabilities 62.5 920.6 1,152.0 — 2,135.1 Income taxes payable 15.2 — 21.1 — 36.3 Intercompany payable 111.1 868.1 553.0 (1,532.2) — Contract liabilities — 313.8 648.3 — 962.1 Current liabilities held for sale — — 17.0 — 17.0 Current portion of long-term debt 43.5 14.6 51.8 — 109.9 TOTAL CURRENT LIABILITIES 281.8 3,714.2 3,426.4 (1,532.2) 5,890.2 OTHER LONG-TERM LIABILITIES 118.6 242.8 348.6 — 710.0 DEFERRED TAX LIABILITY–NET — 63.0 108.9 (163.6) 8.3 NOTE PAYABLE INTERCOMPANY–NON CURRENT 811.7 — 498.6 (1,310.3) — LONG-TERM DEBT 2,902.4 292.2 539.0 — 3,733.6 TOTAL LIABILITIES 4,114.5 4,312.2 4,921.5 (3,006.1) 10,342.1 TOTAL AECOM STOCKHOLDERS’ EQUITY 4,098.9 4,938.8 2,386.3 (7,224.0) 4,200.0 Noncontrolling interests — — 194.9 — 194.9 TOTAL STOCKHOLDERS’ EQUITY 4,098.9 4,938.8 2,581.2 (7,224.0) 4,394.9 TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 8,213.4 $ 9,251.0 $ 7,502.7 $ (10,230.1) $ 14,737.0 Condensed Consolidating Balance Sheets (in millions) September 30, 2018 Guarantor Non-Guarantor Parent Subsidiaries Subsidiaries Eliminations Total ASSETS CURRENT ASSETS: Total cash and cash equivalents $ 22.0 $ 270.9 $ 593.8 $ — $ 886.7 Accounts receivable and contract assets—net — 2,544.7 2,924.1 — 5,468.8 Intercompany receivable 951.1 84.9 157.9 (1,193.9) — Prepaid expenses and other current assets 52.9 331.6 200.7 — 585.2 Current assets held for sale — — 59.8 — 59.8 Income taxes receivable 84.6 — 42.2 — 126.8 TOTAL CURRENT ASSETS 1,110.6 3,232.1 3,978.5 (1,193.9) 7,127.3 PROPERTY AND EQUIPMENT—NET 202.6 217.3 194.2 — 614.1 DEFERRED TAX ASSETS—NET 134.0 — 150.0 (124.6) 159.4 INVESTMENTS IN CONSOLIDATED SUBSIDIARIES 6,364.1 1,912.0 — (8,276.1) — INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES 13.4 49.6 247.7 — 310.7 GOODWILL — 3,392.7 2,528.4 — 5,921.1 INTANGIBLE ASSETS–NET — 218.6 101.3 — 319.9 OTHER NON-CURRENT ASSETS 49.9 45.6 133.1 — 228.6 TOTAL ASSETS $ 7,874.6 $ 9,067.9 $ 7,333.2 $ (9,594.6) $ 14,681.1 LIABILITIES AND STOCKHOLDERS’ EQUITY CURRENT LIABILITIES: Short-term debt $ 8.4 $ — $ — $ — $ 8.4 Accounts payable 53.6 1,616.7 1,055.7 — 2,726.0 Accrued expenses and other current liabilities 58.8 1,035.6 1,172.7 — 2,267.1 Income taxes payable 10.4 — 29.4 — 39.8 Intercompany payable 105.5 830.8 416.9 (1,353.2) — Contract liabilities 1.5 316.1 613.8 — 931.4 Current liabilities held for sale — — 22.3 — 22.3 Current portion of long-term debt 43.3 27.0 64.4 — 134.7 TOTAL CURRENT LIABILITIES 281.5 3,826.2 3,375.2 (1,353.2) 6,129.7 OTHER LONG-TERM LIABILITIES 131.6 249.0 361.5 — 742.1 DEFERRED TAX LIABILITY—NET — 63.1 108.9 (124.7) 47.3 NOTE PAYABLE INTERCOMPANY—NON CURRENT 800.9 — 487.5 (1,288.4) — LONG-TERM DEBT 2,627.8 291.4 564.5 — 3,483.7 TOTAL LIABILITIES 3,841.8 4,429.7 4,897.6 (2,766.3) 10,402.8 TOTAL AECOM STOCKHOLDERS’ EQUITY 4,032.8 4,638.2 2,250.1 (6,828.3) 4,092.8 Noncontrolling interests — — 185.5 — 185.5 TOTAL STOCKHOLDERS’ EQUITY 4,032.8 4,638.2 2,435.6 (6,828.3) 4,278.3 TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 7,874.6 $ 9,067.9 $ 7,333.2 $ (9,594.6) $ 14,681.1 Condensed Consolidating Statements of Operations (unaudited - in millions) For the three months ended March 31, 2019 Guarantor Non-Guarantor Parent Subsidiaries Subsidiaries Eliminations Total Revenue $ — $ 2,724.1 $ 2,342.1 $ (26.2) $ 5,040.0 Cost of revenue — 2,604.6 2,266.2 (26.2) 4,844.6 Gross profit — 119.5 75.9 — 195.4 Equity in earnings from subsidiaries 162.3 150.5 — (312.8) — Equity in earnings of joint ventures — (7.6) 33.5 — 25.9 General and administrative expenses (35.7) — (1.7) — (37.4) Restructuring costs (15.9) — — — (15.9) Income from operations 110.7 262.4 107.7 (312.8) 168.0 Other income 1.1 12.5 5.1 (14.4) 4.3 Interest expense (52.3) (5.6) (14.4) 14.4 (57.9) Income before income tax (benefit) expense 59.5 269.3 98.4 (312.8) 114.4 Income tax (benefit) expense (18.5) 23.3 16.1 — 20.9 Net income 78.0 246.0 82.3 (312.8) 93.5 Noncontrolling interests in income of consolidated subsidiaries, net of tax — — (15.6) — (15.6) Net income attributable to AECOM $ 78.0 $ 246.0 $ 66.7 $ (312.8) $ 77.9 For the three months ended March 31, 2018 Guarantor Non-Guarantor Parent Subsidiaries Subsidiaries Eliminations Total Revenue $ — $ 2,690.7 $ 2,130.0 $ (29.8) $ 4,790.9 Cost of revenue — 2,610.4 2,069.1 (29.8) 4,649.7 Gross profit — 80.3 60.9 — 141.2 Equity in earnings from subsidiaries (18.2) (120.2) — 138.4 — Equity in earnings of joint ventures — 6.8 6.3 — 13.1 General and administrative expenses (27.3) — (2.9) — (30.2) Impairment of assets held for sale, including goodwill — — (168.2) — (168.2) Loss from operations (45.5) (33.1) (103.9) 138.4 (44.1) Other income 10.2 5.1 4.0 (6.8) 12.5 Interest expense (93.0) (4.3) (10.0) 6.8 (100.5) Loss before income tax (benefit) expense (128.3) (32.3) (109.9) 138.4 (132.1) Income tax (benefit) expense (8.6) (17.6) 1.8 — (24.4) Net loss (119.7) (14.7) (111.7) 138.4 (107.7) Noncontrolling interest in income of consolidated subsidiaries, net of tax — — (12.0) — (12.0) Net loss attributable to AECOM $ (119.7) $ (14.7) $ (123.7) $ 138.4 $ (119.7) Condensed Consolidating Statements of Operations (unaudited - in millions) For the six months ended March 31, 2019 Guarantor Non-Guarantor Parent Subsidiaries Subsidiaries Eliminations Total Revenue $ — $ 5,427.7 $ 4,696.9 $ (47.1) $ 10,077.5 Cost of revenue — 5,206.0 4,552.6 (47.1) 9,711.5 Gross profit — 221.7 144.3 — 366.0 Equity in earnings from subsidiaries 315.8 98.1 — (413.9) — Equity in earnings of joint ventures — 2.3 36.1 — 38.4 General and administrative expenses (69.9) — (3.4) — (73.3) Restructuring costs (79.2) — — — (79.2) Income from operations 166.7 322.1 177.0 (413.9) 251.9 Other income 2.3 24.4 8.9 (27.7) 7.9 Interest expense (101.8) (10.6) (29.2) 27.7 (113.9) Income before income tax (benefit) expense 67.2 335.9 156.7 (413.9) 145.9 Income tax (benefit) expense (62.2) 29.1 20.4 — (12.7) Net income 129.4 306.8 136.3 (413.9) 158.6 Noncontrolling interests in income of consolidated subsidiaries, net of tax — — (29.2) — (29.2) Net income attributable to AECOM $ 129.4 $ 306.8 $ 107.1 $ (413.9) $ 129.4 For the six months ended March 31, 2018 Guarantor Non-Guarantor Parent Subsidiaries Subsidiaries Eliminations Total Revenue $ — $ 5,412.0 $ 4,331.5 $ (41.8) $ 9,701.7 Cost of revenue — 5,218.2 4,247.9 (41.8) 9,424.3 Gross profit — 193.8 83.6 — 277.4 Equity in earnings from subsidiaries 187.9 63.0 — (250.9) — Equity in earnings of joint ventures — 24.0 18.8 — 42.8 General and administrative expenses (59.4) — (5.5) — (64.9) Impairment of assets held for sale, including goodwill — — (168.2) — (168.2) Income (loss) from operations 128.5 280.8 (71.3) (250.9) 87.1 Other income 10.4 10.5 6.7 (12.8) 14.8 Interest expense (145.3) (8.9) (15.3) 12.8 (156.7) (Loss) income before income tax expense (benefit) (6.4) 282.4 (79.9) (250.9) (54.8) Income tax expense (benefit) 2.0 94.9 (168.4) — (71.5) Net (loss) income (8.4) 187.5 88.5 (250.9) 16.7 Noncontrolling interest in income of consolidated subsidiaries, net of tax — — (25.1) — (25.1) Net (loss) income attributable to AECOM $ (8.4) $ 187.5 $ 63.4 $ (250.9) $ (8.4) Consolidating Statements of Comprehensive Income (Loss) (unaudited - in millions) For the three months ended March 31, 2019 Guarantor Non-Guarantor Parent Subsidiaries Subsidiaries Eliminations Total Net income $ 78.0 $ 246.0 $ 82.3 $ (312.8) $ 93.5 Other comprehensive (loss) income, net of tax: Net unrealized loss on derivatives, net of tax (1.7) — (2.4) — (4.1) Foreign currency translation adjustments — — 22.8 — 22.8 Pension adjustments, net of tax 0.7 (1.2) (2.9) — (3.4) Other comprehensive (loss) income, net of tax (1.0) (1.2) 17.5 — 15.3 Comprehensive income, net of tax 77.0 244.8 99.8 (312.8) 108.8 Noncontrolling interests in comprehensive income of consolidated subsidiaries, net of tax — — (15.8) — (15.8) Comprehensive income attributable to AECOM, net of tax $ 77.0 $ 244.8 $ 84.0 $ (312.8) $ 93.0 For the three months ended March 31, 2018 Guarantor Non-Guarantor Parent Subsidiaries Subsidiaries Eliminations Total Net loss $ (119.7) $ (14.7) $ (111.7) $ 138.4 $ (107.7) Other comprehensive income (loss), net of tax: Net unrealized loss on derivatives, net of tax (0.1) — (1.6) — (1.7) Foreign currency translation adjustments — — 15.5 — 15.5 Pension adjustments, net of tax 0.7 — (16.8) — (16.1) Other comprehensive income (loss), net of tax 0.6 — (2.9) — (2.3) Comprehensive loss , net of tax (119.1) (14.7) (114.6) 138.4 (110.0) Noncontrolling interests in comprehensive income of consolidated subsidiaries, net of tax — — (12.6) — (12.6) Comprehensive loss attributable to AECOM, net of tax $ (119.1) $ (14.7) $ (127.2) $ 138.4 $ (122.6) Consolidating Statements of Comprehensive Income (Loss) (unaudited - in millions) For the six months ended March 31, 2019 Guarantor Non-Guarantor Parent Subsidiaries Subsidiaries Eliminations Total Net income $ 129.4 $ 306.8 $ 136.3 $ (413.9) $ 158.6 Other comprehensive loss, net of tax: Net unrealized loss on derivatives, net of tax (4.1) — (6.3) — (10.4) Foreign currency translation adjustments — — 1.0 — 1.0 Pension adjustments, net of tax 1.4 (1.2) 1.7 — 1.9 Other comprehensive loss, net of tax (2.7) (1.2) (3.6) — (7.5) Comprehensive income, net of tax 126.7 305.6 132.7 (413.9) 151.1 Noncontrolling interests in comprehensive income of consolidated subsidiaries, net of tax — — (29.4) — (29.4) Comprehensive income attributable to AECOM, net of tax $ 126.7 $ 305.6 $ 103.3 $ (413.9) $ 121.7 For the six months ended March 31, 2018 Guarantor Non-Guarantor Parent Subsidiaries Subsidiaries Eliminations Total Net (loss) income $ (8.4) $ 187.5 $ 88.5 $ (250.9) $ 16.7 Other comprehensive income (loss), net of tax: Net unrealized gain (loss) on derivatives, net of tax 0.6 — (1.5) — (0.9) Foreign currency translation adjustments — — 9.5 — 9.5 Pension adjustments, net of tax 1.5 — (15.1) — (13.6) Other comprehensive income (loss), net of tax 2.1 — (7.1) — (5.0) Comprehensive (loss) income, net of tax (6.3) 187.5 81.4 (250.9) 11.7 Noncontrolling interests in comprehensive income of consolidated subsidiaries, net of tax — — (26.5) — (26.5) Comprehensive (loss) income attributable to AECOM, net of tax $ (6.3) $ 187.5 $ 54.9 $ (250.9) $ (14.8) Condensed Consolidating Statements of Cash Flows (unaudited - in millions) For the six months ended March 31, 2019 Non- Guarantor Guarantor Parent Subsidiaries Subsidiaries Eliminations Total CASH FLOWS FROM OPERATING ACTIVITIES $ (47.1) $ 120.3 $ (166.1) $ — $ (92.9) CASH FLOWS FROM INVESTING ACTIVITIES: Net investment in unconsolidated joint ventures (1.9) (9.3) (52.1) — (63.3) Net proceeds from sale of investment securities — — 2.4 — 2.4 Payments for capital expenditures, net of disposals (20.5) (11.3) (12.6) — (44.4) Net investment in intercompany notes (40.8) (22.0) (19.3) 82.1 — Other intercompany investing activities (131.9) (62.5) — 194.4 — Net cash used in investing activities (195.1) (105.1) (81.6) 276.5 (105.3) CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from borrowings under credit agreements 4,426.4 — 77.8 — 4,504.2 Repayments of borrowings under credit agreements (4,167.2) (21.2) (80.7) — (4,269.1) Cash paid for debt and equity issuance costs (0.1) — — — (0.1) Proceeds from issuance of common stock 14.5 — — — 14.5 Payments to repurchase common stock (82.6) — — — (82.6) Net distributions to noncontrolling interests — — (36.0) — (36.0) Other financing activities 19.4 (19.1) 7.4 — 7.7 Net borrowings on intercompany notes 11.4 19.5 51.2 (82.1) — Other intercompany financing activities — 18.6 175.8 (194.4) — Net cash provided by (used in) financing activities 221.8 (2.2) 195.5 (276.5) 138.6 EFFECT OF EXCHANGE RATE CHANGES ON CASH — — (0.2) — (0.2) NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (20.4) 13.0 (52.4) — (59.8) CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 22.0 270.9 593.8 — 886.7 CASH AND CASH EQUIVALENTS AT END OF YEAR $ 1.6 $ 283.9 $ 541.4 $ — $ 826.9 Condensed Consolidating Statements of Cash Flows (unaudited - in millions) For the six months ended March 31, 2018 Non- Guarantor Guarantor Parent Subsidiaries Subsidiaries Eliminations Total CASH FLOWS FROM OPERATING ACTIVITIES $ (149.6) $ 121.0 $ 199.4 $ — $ 170.8 CASH FLOWS FROM INVESTING ACTIVITIES: Proceeds from purchase price adjustment to business acquisition — — 2.2 — 2.2 Cash acquired from consolidation of joint venture — — 7.6 — 7.6 Net investment in unconsolidated joint ventures (3.7) (9.3) (42.6) — (55.6) Proceeds from sale of investments — — 0.2 — 0.2 Payments for capital expenditures, net of disposals (6.7) (26.6) (8.9) — (42.2) Net investment in intercompany notes (1.7) (611.1) (61.9) 674.7 — Other intercompany investing activities 5.9 627.3 — (633.2) — Net cash used in investing activities (6.2) (19.7) (103.4) 41.5 (87.8) CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from borrowings under credit agreements 5,049.0 — 664.4 — 5,713.4 Repayments of borrowings under credit agreements (4,743.9) (9.5) (83.1) — (4,836.5) Redemption of unsecured senior notes (800.0) — — — (800.0) Prepayment premium on redemption of unsecured senior notes (34.5) — — — (34.5) Cash paid for debt issuance costs (10.4) — — — (10.4) Proceeds from issuance of common stock 15.5 — — — 15.5 Proceeds from exercise of stock options 3.2 — — — 3.2 Payments to repurchase common stock (27.2) — — — (27.2) Net distributions to noncontrolling interests — — (24.1) — (24.1) Other financing activities 6.2 (48.0) 18.1 — (23.7) Net borrowings (repayments) on intercompany notes 669.9 (16.7) 21.5 (674.7) — Other intercompany financing activities — (19.7) (613.5) 633.2 — Net cash provided by (used in) financing activities 127.8 (93.9) (16.7) (41.5) (24.3) EFFECT OF EXCHANGE RATE CHANGES ON CASH — — 6.1 — 6.1 NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (28.0) 7.4 85.4 — 64.8 CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 32.6 254.9 514.9 — 802.4 CASH AND CASH EQUIVALENTS AT END OF YEAR $ 4.6 $ 262.3 $ 600.3 $ — $ 867.2

Business Acquisitions, Goodwi_2

Business Acquisitions, Goodwill and Intangible Assets (Tables)	6 Months Ended
	Mar. 31, 2019
Business Acquisitions, Goodwill and Intangible Assets
Schedule of changes in the carrying value of goodwill by reportable segment	Foreign September 30, Exchange March 31, 2018 Impact 2019 (in millions) Design and Consulting Services $ 3,189.2 $ (9.1) $ 3,180.1 Construction Services 1,008.9 (4.0) 1,004.9 Management Services 1,723.0 0.2 1,723.2 Total $ 5,921.1 $ (12.9) $ 5,908.2
Schedule of finite-lived intangible assets by major class	March 31, 2019 September 30, 2018 Gross Accumulated Intangible Gross Accumulated Intangible Amortization Amount Amortization Assets, Net Amount Amortization Assets, Net Period (in millions) (years) Backlog and customer relationships $ 1,285.7 $ (1,009.1) $ 276.6 $ 1,285.1 $ (966.0) $ 319.1 1 - 11 Trademark / tradename 18.3 (17.7) 0.6 18.3 (17.5) 0.8 0.3 - 2 Total $ 1,304.0 $ (1,026.8) $ 277.2 $ 1,303.4 $ (983.5) $ 319.9
Schedule of estimated future amortization expense of intangible assets	Fiscal Year (in millions) 2019 (six months remaining) $ 41.5 2020 69.6 2021 56.6 2022 43.9 2023 39.5 Thereafter 26.1 Total $ 277.2

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Mar. 31, 2019
Revenue Recognition
Schedule of revenues disaggregated by revenue sources	Three months ended Six months ended March 31, March 31, March 31, March 31, 2019 2018 2019 2018 (in millions) Cost reimbursable $ 2,567.9 $ 2,251.7 $ 5,139.5 $ 4,608.9 Guaranteed maximum price 1,003.6 1,149.8 2,027.6 2,328.4 Fixed price 1,468.5 1,389.4 2,910.4 2,764.4 Total revenue $ 5,040.0 $ 4,790.9 $ 10,077.5 $ 9,701.7 Three months ended Six months ended March 31, March 31, March 31, March 31, 2019 2018 2019 2018 (in millions) Americas $ 4,025.7 $ 3,784.8 $ 8,096.1 $ 7,713.5 Europe, Middle East, Africa 577.1 632.4 1,127.2 1,221.7 Asia Pacific 437.2 373.7 854.2 766.5 Total revenue $ 5,040.0 $ 4,790.9 $ 10,077.5 $ 9,701.7
Schedule of net accounts receivable	March 31, September 30, 2019 2018 (in millions) Billed $ 2,685.1 $ 2,697.7 Contract retentions 652.4 661.7 Total accounts receivable—gross 3,337.5 3,359.4 Allowance for doubtful accounts (51.6) (51.6) Total accounts receivable—net $ 3,285.9 $ 3,307.8

Joint Ventures and Variable I_2

Joint Ventures and Variable Interest Entities (Tables)	6 Months Ended
	Mar. 31, 2019
Joint Ventures and Variable Interest Entities
Summary of financial information of the consolidated joint ventures	March 31, 2019 September 30, (unaudited) 2018 (in millions) Current assets $ 961.5 $ 1,013.7 Non-current assets 181.2 192.7 Total assets $ 1,142.7 $ 1,206.4 Current liabilities $ 683.2 $ 724.2 Non-current liabilities 12.5 12.7 Total liabilities 695.7 736.9 Total AECOM equity 252.8 284.2 Noncontrolling interests 194.2 185.3 Total owners’ equity 447.0 469.5 Total liabilities and owners’ equity $ 1,142.7 $ 1,206.4
Summary of financial information of the unconsolidated joint ventures, as derived from their unaudited financial statements	March 31, September 30, 2019 2018 (in millions) Current assets $ 1,790.4 $ 1,903.3 Non-current assets 1,008.5 938.3 Total assets $ 2,798.9 $ 2,841.6 Current liabilities $ 1,551.8 $ 1,658.5 Non-current liabilities 246.5 224.3 Total liabilities 1,798.3 1,882.8 Joint ventures’ equity 1,000.6 958.8 Total liabilities and joint ventures’ equity $ 2,798.9 $ 2,841.6 AECOM’s investment in joint ventures $ 338.4 $ 310.7 Six Months Ended March 31, March 31, 2019 2018 (in millions) Revenue $ 2,404.9 $ 2,814.8 Cost of revenue 2,313.3 2,683.0 Gross profit $ 91.6 $ 131.8 Net income $ 90.5 $ 127.7
Summary of AECOM's equity in earnings of unconsolidated joint ventures	Six Months Ended March 31, March 31, 2019 2018 (in millions) Pass through joint ventures $ 16.0 $ 20.2 Other joint ventures 22.4 22.6 Total $ 38.4 $ 42.8

Pension Benefit Obligations (Ta

Pension Benefit Obligations (Tables)	6 Months Ended
	Mar. 31, 2019
Pension Benefit Obligations
Components of net periodic cost for the Company's pension and post-retirement plans	Three Months Ended Six Months Ended March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 U.S. Int’l U.S. Int’l U.S. Int’l U.S. Int’l (in millions) Components of net periodic benefit cost: Service costs $ — $ 0.1 $ 1.2 $ 0.3 $ — $ 0.2 $ 2.4 $ 0.6 Interest cost on projected benefit obligation 6.0 7.7 5.2 8.3 11.9 15.1 10.4 16.2 Expected return on plan assets (6.9) (9.8) (7.8) (11.1) (13.7) (19.3) (15.7) (21.8) Amortization of prior service cost — (0.1) — (0.1) — (0.1) — (0.1) Amortization of net loss 0.9 1.1 1.0 2.2 1.8 2.1 2.0 4.2 Settlement loss recognized 0.1 — — 0.1 0.1 0.1 — 0.2 Net periodic benefit cost $ 0.1 $ (1.0) $ (0.4) $ (0.3) $ 0.1 $ (1.9) $ (0.9) $ (0.7)

Debt (Tables)

Debt (Tables)	6 Months Ended
	Mar. 31, 2019
Debt
Schedule of debt	March 31, September 30, 2019 2018 (in millions) 2014 Credit Agreement $ 1,669.0 $ 1,433.8 2014 Senior Notes 800.0 800.0 2017 Senior Notes 1,000.0 1,000.0 URS Senior Notes 247.9 247.9 Other debt 216.9 191.8 Total debt 3,933.8 3,673.5 Less: Current portion of debt and short-term borrowings (158.3) (143.1) Less: Unamortized debt issuance costs (41.9) (46.7) Long-term debt $ 3,733.6 $ 3,483.7
Schedule of maturities of debt	The following table presents, in millions, scheduled maturities of the Company’s debt as of March 31, 2019 : Fiscal Year 2019 (six months remaining) $ 100.9 2020 104.9 2021 344.9 2022 310.1 2023 736.2 Thereafter 2,336.8 Total $ 3,933.8

Derivative Financial Instrume_2

Derivative Financial Instruments and Fair Value Measurements (Tables)	6 Months Ended
	Mar. 31, 2019
Derivative Financial Instruments and Fair Value Measurements
Notional principle, fixed rates and related expiration dates of outstanding interest rate swap agreements	March 31, 2019 Notional Amount Notional Amount Fixed Expiration Currency (in millions) Rate Date AUD 200.0 2.19 % February 2021 CAD 400.0 2.49 % September 2022 USD 200.0 2.60 % February 2023 September 30, 2018 Notional Amount Notional Amount Fixed Expiration Currency (in millions) Rate Date AUD 200.0 2.19 % February 2021 CAD 400.0 2.49 % September 2022 USD 200.0 2.60 % February 2023

Share-based Payments (Tables)

Share-based Payments (Tables)	6 Months Ended
	Mar. 31, 2019
Share-based Payments
Schedule of stock option activity	2019 2018 Shares of stock Weighted average Shares of stock Weighted average under options exercise price under options exercise price (in millions) (in millions) Outstanding at September 30 0.6 $ 31.62 0.7 $ 31.11 Options granted — — — — Options exercised — — (0.1) 27.79 Options forfeited or expired (0.5) 31.62 — — Outstanding at March 31 0.1 31.62 0.6 31.62 Vested and expected to vest in the future as of March 31 0.1 $ 31.62 0.6 $ 31.62

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Mar. 31, 2019
Earnings Per Share
Reconciliation of the denominators for basic and diluted EPS	Three Months Ended Six Months Ended March 31, March 31, March 31, March 31, 2019 2018 2019 2018 (in millions) Denominator for basic earnings per share 156.6 159.5 156.5 158.7 Potential common shares 1.8 — 2.5 — Denominator for diluted earnings per share 158.4 159.5 159.0 158.7

Other Financial Information (Ta

Other Financial Information (Tables)	6 Months Ended
	Mar. 31, 2019
Other Financial Information
Schedule of accrued expenses and other current liabilities	March 31, September 30, 2019 2018 (in millions) Accrued salaries and benefits $ 878.6 $ 1,035.9 Accrued contract costs 872.1 861.0 Other accrued expenses 384.4 370.1 $ 2,135.1 $ 2,267.0

Reclassifications out of Accu_2

Reclassifications out of Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
	Mar. 31, 2019
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 and six months ended March 31, 2019 and 2018 related to reclassifications out of accumulated other comprehensive loss are summarized as follows (in millions): Foreign Accumulated Pension Currency Loss on Other Related Translation Derivative Comprehensive Adjustments Adjustments Instruments Loss Balances at December 31, 2018 $ (197.0) $ (524.0) $ (5.1) $ (726.1) Other comprehensive (loss) income before reclassification (5.0) 22.5 (4.6) 12.9 Amounts reclassified from accumulated other comprehensive loss 1.6 — 0.6 2.2 Balances at March 31, 2019 $ (200.4) $ (501.5) $ (9.1) $ (711.0) Foreign Accumulated Pension Currency Gain (Loss) on Other Related Translation Derivative Comprehensive Adjustments Adjustments Instruments Loss Balances at December 31, 2017 $ (279.4) $ (425.2) $ 0.4 $ (704.2) Other comprehensive (loss) income before reclassification (18.8) 15.0 (1.6) (5.4) Amounts reclassified from accumulated other comprehensive loss 2.7 — (0.1) 2.6 Balances at March 31, 2018 $ (295.5) $ (410.2) $ (1.3) $ (707.0) Foreign Accumulated Pension Currency Gain/ (Loss) on Other Related Translation Derivative Comprehensive Adjustments Adjustments Instruments Loss Balances at September 30, 2018 $ (202.3) $ (502.2) $ 1.2 $ (703.3) Other comprehensive (loss) income before reclassification (1.2) 0.7 (11.4) (11.9) Amounts reclassified from accumulated other comprehensive loss 3.1 — 1.1 4.2 Balances at March 31, 2019 $ (200.4) $ (501.5) $ (9.1) $ (711.0) Foreign Accumulated Pension Currency Loss on Other Related Translation Derivative Comprehensive Adjustments Adjustments Instruments Loss Balances at September 30, 2017 $ (281.9) $ (418.4) $ (0.4) $ (700.7) Other comprehensive (loss) income before reclassification (18.8) 8.2 (1.1) (11.7) Amounts reclassified from accumulated other comprehensive loss 5.2 — 0.2 5.4 Balances at March 31, 2018 $ (295.5) $ (410.2) $ (1.3) $ (707.0)

Reportable Segments (Tables)

Reportable Segments (Tables)	6 Months Ended
	Mar. 31, 2019
Reportable Segments
Summarized financial information concerning the Company's reportable segments	Design and Consulting Construction Management AECOM Reportable Segments: Services Services Services Capital Corporate Total (in millions) Three Months Ended March 31, 2019: Revenue $ 2,100.8 $ 1,917.8 $ 1,019.9 $ 1.5 $ — $ 5,040.0 Gross profit 129.8 16.7 47.4 1.5 — 195.4 Equity in earnings of joint ventures 5.5 6.8 3.9 9.7 — 25.9 General and administrative expenses — — — (1.7) (35.7) (37.4) Restructuring costs — — — — (15.9) (15.9) Operating income 135.3 23.5 51.3 9.5 (51.6) 168.0 Gross profit as a % of revenue 6.2 % 0.9 % 4.6 % — — 3.9 % Three Months Ended March 31, 2018: Revenue $ 2,004.7 $ 1,888.3 $ 897.9 $ — $ — $ 4,790.9 Gross profit (loss) 120.3 (13.3) 34.2 — — 141.2 Equity in earnings of joint ventures 2.8 1.2 9.1 — — 13.1 General and administrative expenses — — — (2.9) (27.3) (30.2) Impairment of assets held for sale, including goodwill — (168.2) — — — (168.2) Operating income (loss) 123.1 (180.3) 43.3 (2.9) (27.3) (44.1) Gross profit (loss) as a % of revenue 6.0 % (0.7) % 3.8 % — — 2.9 % Six Months Ended March 31, 2019: Revenue $ 4,130.5 $ 3,932.3 $ 2,009.3 $ 5.4 $ — $ 10,077.5 Gross profit 245.5 19.9 95.2 5.4 — 366.0 Equity in earnings of joint ventures 9.3 14.7 7.2 7.2 — 38.4 General and administrative expenses — — — (3.4) (69.9) (73.3) Restructuring costs — — — — (79.2) (79.2) Operating income 254.8 34.6 102.4 9.2 (149.1) 251.9 Gross profit as a % of revenue 5.9 % 0.5 % 4.7 % — — 3.6 % Six Months Ended March 31, 2018: Revenue $ 3,946.6 $ 4,013.8 $ 1,741.3 $ — $ — $ 9,701.7 Gross profit 198.1 13.8 65.5 — — 277.4 Equity in earnings of joint ventures 10.3 14.6 17.9 — — 42.8 General and administrative expenses — — — (5.5) (59.4) (64.9) Impairment of assets held for sale, including goodwill — (168.2) — — — (168.2) Operating income (loss) 208.4 (139.8) 83.4 (5.5) (59.4) 87.1 Gross profit as a % of revenue 5.0 % 0.3 % 3.8 % — — 2.9 % Reportable Segments: Total assets March 31, 2019 $ 7,127.8 $ 4,211.6 $ 2,683.2 $ 165.7 $ 548.7 $ 14,737.0 September 30, 2018 7,013.8 4,212.0 2,701.2 140.6 613.5 14,681.1

Condensed Consolidating Finan_2

Condensed Consolidating Financial Information (Tables)	6 Months Ended
	Mar. 31, 2019
Condensed Consolidating Financial Information
Schedule of Condensed Consolidating Balance Sheets	Condensed Consolidating Balance Sheets (unaudited - in millions) March 31, 2019 Guarantor Non-Guarantor Parent Subsidiaries Subsidiaries Eliminations Total ASSETS CURRENT ASSETS: Total cash and cash equivalents $ 1.6 $ 283.9 $ 541.4 $ — $ 826.9 Accounts receivable and contract assets—net — 2,653.6 3,059.2 — 5,712.8 Intercompany receivable 1,006.8 119.9 185.8 (1,312.5) — Prepaid expenses and other current assets 71.0 260.2 261.0 — 592.2 Current assets held for sale — — 55.0 — 55.0 Income taxes receivable 11.5 — 42.2 — 53.7 TOTAL CURRENT ASSETS 1,090.9 3,317.6 4,144.6 (1,312.5) 7,240.6 PROPERTY AND EQUIPMENT—NET 203.6 202.9 189.9 — 596.4 DEFERRED TAX ASSETS—NET 172.1 8.0 147.2 (163.6) 163.7 INVESTMENTS IN CONSOLIDATED SUBSIDIARIES 6,703.7 2,050.3 — (8,754.0) — INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES 7.6 39.3 291.5 — 338.4 GOODWILL — 3,392.7 2,515.5 — 5,908.2 INTANGIBLE ASSETS—NET — 195.4 81.8 — 277.2 OTHER NON-CURRENT ASSETS 35.5 44.8 132.2 — 212.5 TOTAL ASSETS $ 8,213.4 $ 9,251.0 $ 7,502.7 $ (10,230.1) $ 14,737.0 LIABILITIES AND STOCKHOLDERS’ EQUITY CURRENT LIABILITIES: Short-term debt $ 18.4 $ — $ 30.0 $ — $ 48.4 Accounts payable 31.1 1,597.1 953.2 — 2,581.4 Accrued expenses and other current liabilities 62.5 920.6 1,152.0 — 2,135.1 Income taxes payable 15.2 — 21.1 — 36.3 Intercompany payable 111.1 868.1 553.0 (1,532.2) — Contract liabilities — 313.8 648.3 — 962.1 Current liabilities held for sale — — 17.0 — 17.0 Current portion of long-term debt 43.5 14.6 51.8 — 109.9 TOTAL CURRENT LIABILITIES 281.8 3,714.2 3,426.4 (1,532.2) 5,890.2 OTHER LONG-TERM LIABILITIES 118.6 242.8 348.6 — 710.0 DEFERRED TAX LIABILITY–NET — 63.0 108.9 (163.6) 8.3 NOTE PAYABLE INTERCOMPANY–NON CURRENT 811.7 — 498.6 (1,310.3) — LONG-TERM DEBT 2,902.4 292.2 539.0 — 3,733.6 TOTAL LIABILITIES 4,114.5 4,312.2 4,921.5 (3,006.1) 10,342.1 TOTAL AECOM STOCKHOLDERS’ EQUITY 4,098.9 4,938.8 2,386.3 (7,224.0) 4,200.0 Noncontrolling interests — — 194.9 — 194.9 TOTAL STOCKHOLDERS’ EQUITY 4,098.9 4,938.8 2,581.2 (7,224.0) 4,394.9 TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 8,213.4 $ 9,251.0 $ 7,502.7 $ (10,230.1) $ 14,737.0 Condensed Consolidating Balance Sheets (in millions) September 30, 2018 Guarantor Non-Guarantor Parent Subsidiaries Subsidiaries Eliminations Total ASSETS CURRENT ASSETS: Total cash and cash equivalents $ 22.0 $ 270.9 $ 593.8 $ — $ 886.7 Accounts receivable and contract assets—net — 2,544.7 2,924.1 — 5,468.8 Intercompany receivable 951.1 84.9 157.9 (1,193.9) — Prepaid expenses and other current assets 52.9 331.6 200.7 — 585.2 Current assets held for sale — — 59.8 — 59.8 Income taxes receivable 84.6 — 42.2 — 126.8 TOTAL CURRENT ASSETS 1,110.6 3,232.1 3,978.5 (1,193.9) 7,127.3 PROPERTY AND EQUIPMENT—NET 202.6 217.3 194.2 — 614.1 DEFERRED TAX ASSETS—NET 134.0 — 150.0 (124.6) 159.4 INVESTMENTS IN CONSOLIDATED SUBSIDIARIES 6,364.1 1,912.0 — (8,276.1) — INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES 13.4 49.6 247.7 — 310.7 GOODWILL — 3,392.7 2,528.4 — 5,921.1 INTANGIBLE ASSETS–NET — 218.6 101.3 — 319.9 OTHER NON-CURRENT ASSETS 49.9 45.6 133.1 — 228.6 TOTAL ASSETS $ 7,874.6 $ 9,067.9 $ 7,333.2 $ (9,594.6) $ 14,681.1 LIABILITIES AND STOCKHOLDERS’ EQUITY CURRENT LIABILITIES: Short-term debt $ 8.4 $ — $ — $ — $ 8.4 Accounts payable 53.6 1,616.7 1,055.7 — 2,726.0 Accrued expenses and other current liabilities 58.8 1,035.6 1,172.7 — 2,267.1 Income taxes payable 10.4 — 29.4 — 39.8 Intercompany payable 105.5 830.8 416.9 (1,353.2) — Contract liabilities 1.5 316.1 613.8 — 931.4 Current liabilities held for sale — — 22.3 — 22.3 Current portion of long-term debt 43.3 27.0 64.4 — 134.7 TOTAL CURRENT LIABILITIES 281.5 3,826.2 3,375.2 (1,353.2) 6,129.7 OTHER LONG-TERM LIABILITIES 131.6 249.0 361.5 — 742.1 DEFERRED TAX LIABILITY—NET — 63.1 108.9 (124.7) 47.3 NOTE PAYABLE INTERCOMPANY—NON CURRENT 800.9 — 487.5 (1,288.4) — LONG-TERM DEBT 2,627.8 291.4 564.5 — 3,483.7 TOTAL LIABILITIES 3,841.8 4,429.7 4,897.6 (2,766.3) 10,402.8 TOTAL AECOM STOCKHOLDERS’ EQUITY 4,032.8 4,638.2 2,250.1 (6,828.3) 4,092.8 Noncontrolling interests — — 185.5 — 185.5 TOTAL STOCKHOLDERS’ EQUITY 4,032.8 4,638.2 2,435.6 (6,828.3) 4,278.3 TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 7,874.6 $ 9,067.9 $ 7,333.2 $ (9,594.6) $ 14,681.1
Schedule of Condensed Consolidating Statements of Operations	Condensed Consolidating Statements of Operations (unaudited - in millions) For the three months ended March 31, 2019 Guarantor Non-Guarantor Parent Subsidiaries Subsidiaries Eliminations Total Revenue $ — $ 2,724.1 $ 2,342.1 $ (26.2) $ 5,040.0 Cost of revenue — 2,604.6 2,266.2 (26.2) 4,844.6 Gross profit — 119.5 75.9 — 195.4 Equity in earnings from subsidiaries 162.3 150.5 — (312.8) — Equity in earnings of joint ventures — (7.6) 33.5 — 25.9 General and administrative expenses (35.7) — (1.7) — (37.4) Restructuring costs (15.9) — — — (15.9) Income from operations 110.7 262.4 107.7 (312.8) 168.0 Other income 1.1 12.5 5.1 (14.4) 4.3 Interest expense (52.3) (5.6) (14.4) 14.4 (57.9) Income before income tax (benefit) expense 59.5 269.3 98.4 (312.8) 114.4 Income tax (benefit) expense (18.5) 23.3 16.1 — 20.9 Net income 78.0 246.0 82.3 (312.8) 93.5 Noncontrolling interests in income of consolidated subsidiaries, net of tax — — (15.6) — (15.6) Net income attributable to AECOM $ 78.0 $ 246.0 $ 66.7 $ (312.8) $ 77.9 For the three months ended March 31, 2018 Guarantor Non-Guarantor Parent Subsidiaries Subsidiaries Eliminations Total Revenue $ — $ 2,690.7 $ 2,130.0 $ (29.8) $ 4,790.9 Cost of revenue — 2,610.4 2,069.1 (29.8) 4,649.7 Gross profit — 80.3 60.9 — 141.2 Equity in earnings from subsidiaries (18.2) (120.2) — 138.4 — Equity in earnings of joint ventures — 6.8 6.3 — 13.1 General and administrative expenses (27.3) — (2.9) — (30.2) Impairment of assets held for sale, including goodwill — — (168.2) — (168.2) Loss from operations (45.5) (33.1) (103.9) 138.4 (44.1) Other income 10.2 5.1 4.0 (6.8) 12.5 Interest expense (93.0) (4.3) (10.0) 6.8 (100.5) Loss before income tax (benefit) expense (128.3) (32.3) (109.9) 138.4 (132.1) Income tax (benefit) expense (8.6) (17.6) 1.8 — (24.4) Net loss (119.7) (14.7) (111.7) 138.4 (107.7) Noncontrolling interest in income of consolidated subsidiaries, net of tax — — (12.0) — (12.0) Net loss attributable to AECOM $ (119.7) $ (14.7) $ (123.7) $ 138.4 $ (119.7) Condensed Consolidating Statements of Operations (unaudited - in millions) For the six months ended March 31, 2019 Guarantor Non-Guarantor Parent Subsidiaries Subsidiaries Eliminations Total Revenue $ — $ 5,427.7 $ 4,696.9 $ (47.1) $ 10,077.5 Cost of revenue — 5,206.0 4,552.6 (47.1) 9,711.5 Gross profit — 221.7 144.3 — 366.0 Equity in earnings from subsidiaries 315.8 98.1 — (413.9) — Equity in earnings of joint ventures — 2.3 36.1 — 38.4 General and administrative expenses (69.9) — (3.4) — (73.3) Restructuring costs (79.2) — — — (79.2) Income from operations 166.7 322.1 177.0 (413.9) 251.9 Other income 2.3 24.4 8.9 (27.7) 7.9 Interest expense (101.8) (10.6) (29.2) 27.7 (113.9) Income before income tax (benefit) expense 67.2 335.9 156.7 (413.9) 145.9 Income tax (benefit) expense (62.2) 29.1 20.4 — (12.7) Net income 129.4 306.8 136.3 (413.9) 158.6 Noncontrolling interests in income of consolidated subsidiaries, net of tax — — (29.2) — (29.2) Net income attributable to AECOM $ 129.4 $ 306.8 $ 107.1 $ (413.9) $ 129.4 For the six months ended March 31, 2018 Guarantor Non-Guarantor Parent Subsidiaries Subsidiaries Eliminations Total Revenue $ — $ 5,412.0 $ 4,331.5 $ (41.8) $ 9,701.7 Cost of revenue — 5,218.2 4,247.9 (41.8) 9,424.3 Gross profit — 193.8 83.6 — 277.4 Equity in earnings from subsidiaries 187.9 63.0 — (250.9) — Equity in earnings of joint ventures — 24.0 18.8 — 42.8 General and administrative expenses (59.4) — (5.5) — (64.9) Impairment of assets held for sale, including goodwill — — (168.2) — (168.2) Income (loss) from operations 128.5 280.8 (71.3) (250.9) 87.1 Other income 10.4 10.5 6.7 (12.8) 14.8 Interest expense (145.3) (8.9) (15.3) 12.8 (156.7) (Loss) income before income tax expense (benefit) (6.4) 282.4 (79.9) (250.9) (54.8) Income tax expense (benefit) 2.0 94.9 (168.4) — (71.5) Net (loss) income (8.4) 187.5 88.5 (250.9) 16.7 Noncontrolling interest in income of consolidated subsidiaries, net of tax — — (25.1) — (25.1) Net (loss) income attributable to AECOM $ (8.4) $ 187.5 $ 63.4 $ (250.9) $ (8.4)
Schedule of Consolidating Statements of Comprehensive Income	Consolidating Statements of Comprehensive Income (Loss) (unaudited - in millions) For the three months ended March 31, 2019 Guarantor Non-Guarantor Parent Subsidiaries Subsidiaries Eliminations Total Net income $ 78.0 $ 246.0 $ 82.3 $ (312.8) $ 93.5 Other comprehensive (loss) income, net of tax: Net unrealized loss on derivatives, net of tax (1.7) — (2.4) — (4.1) Foreign currency translation adjustments — — 22.8 — 22.8 Pension adjustments, net of tax 0.7 (1.2) (2.9) — (3.4) Other comprehensive (loss) income, net of tax (1.0) (1.2) 17.5 — 15.3 Comprehensive income, net of tax 77.0 244.8 99.8 (312.8) 108.8 Noncontrolling interests in comprehensive income of consolidated subsidiaries, net of tax — — (15.8) — (15.8) Comprehensive income attributable to AECOM, net of tax $ 77.0 $ 244.8 $ 84.0 $ (312.8) $ 93.0 For the three months ended March 31, 2018 Guarantor Non-Guarantor Parent Subsidiaries Subsidiaries Eliminations Total Net loss $ (119.7) $ (14.7) $ (111.7) $ 138.4 $ (107.7) Other comprehensive income (loss), net of tax: Net unrealized loss on derivatives, net of tax (0.1) — (1.6) — (1.7) Foreign currency translation adjustments — — 15.5 — 15.5 Pension adjustments, net of tax 0.7 — (16.8) — (16.1) Other comprehensive income (loss), net of tax 0.6 — (2.9) — (2.3) Comprehensive loss , net of tax (119.1) (14.7) (114.6) 138.4 (110.0) Noncontrolling interests in comprehensive income of consolidated subsidiaries, net of tax — — (12.6) — (12.6) Comprehensive loss attributable to AECOM, net of tax $ (119.1) $ (14.7) $ (127.2) $ 138.4 $ (122.6) Consolidating Statements of Comprehensive Income (Loss) (unaudited - in millions) For the six months ended March 31, 2019 Guarantor Non-Guarantor Parent Subsidiaries Subsidiaries Eliminations Total Net income $ 129.4 $ 306.8 $ 136.3 $ (413.9) $ 158.6 Other comprehensive loss, net of tax: Net unrealized loss on derivatives, net of tax (4.1) — (6.3) — (10.4) Foreign currency translation adjustments — — 1.0 — 1.0 Pension adjustments, net of tax 1.4 (1.2) 1.7 — 1.9 Other comprehensive loss, net of tax (2.7) (1.2) (3.6) — (7.5) Comprehensive income, net of tax 126.7 305.6 132.7 (413.9) 151.1 Noncontrolling interests in comprehensive income of consolidated subsidiaries, net of tax — — (29.4) — (29.4) Comprehensive income attributable to AECOM, net of tax $ 126.7 $ 305.6 $ 103.3 $ (413.9) $ 121.7 For the six months ended March 31, 2018 Guarantor Non-Guarantor Parent Subsidiaries Subsidiaries Eliminations Total Net (loss) income $ (8.4) $ 187.5 $ 88.5 $ (250.9) $ 16.7 Other comprehensive income (loss), net of tax: Net unrealized gain (loss) on derivatives, net of tax 0.6 — (1.5) — (0.9) Foreign currency translation adjustments — — 9.5 — 9.5 Pension adjustments, net of tax 1.5 — (15.1) — (13.6) Other comprehensive income (loss), net of tax 2.1 — (7.1) — (5.0) Comprehensive (loss) income, net of tax (6.3) 187.5 81.4 (250.9) 11.7 Noncontrolling interests in comprehensive income of consolidated subsidiaries, net of tax — — (26.5) — (26.5) Comprehensive (loss) income attributable to AECOM, net of tax $ (6.3) $ 187.5 $ 54.9 $ (250.9) $ (14.8)
Schedule on Condensed Consolidating Statements of Cash Flows	Condensed Consolidating Statements of Cash Flows (unaudited - in millions) For the six months ended March 31, 2019 Non- Guarantor Guarantor Parent Subsidiaries Subsidiaries Eliminations Total CASH FLOWS FROM OPERATING ACTIVITIES $ (47.1) $ 120.3 $ (166.1) $ — $ (92.9) CASH FLOWS FROM INVESTING ACTIVITIES: Net investment in unconsolidated joint ventures (1.9) (9.3) (52.1) — (63.3) Net proceeds from sale of investment securities — — 2.4 — 2.4 Payments for capital expenditures, net of disposals (20.5) (11.3) (12.6) — (44.4) Net investment in intercompany notes (40.8) (22.0) (19.3) 82.1 — Other intercompany investing activities (131.9) (62.5) — 194.4 — Net cash used in investing activities (195.1) (105.1) (81.6) 276.5 (105.3) CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from borrowings under credit agreements 4,426.4 — 77.8 — 4,504.2 Repayments of borrowings under credit agreements (4,167.2) (21.2) (80.7) — (4,269.1) Cash paid for debt and equity issuance costs (0.1) — — — (0.1) Proceeds from issuance of common stock 14.5 — — — 14.5 Payments to repurchase common stock (82.6) — — — (82.6) Net distributions to noncontrolling interests — — (36.0) — (36.0) Other financing activities 19.4 (19.1) 7.4 — 7.7 Net borrowings on intercompany notes 11.4 19.5 51.2 (82.1) — Other intercompany financing activities — 18.6 175.8 (194.4) — Net cash provided by (used in) financing activities 221.8 (2.2) 195.5 (276.5) 138.6 EFFECT OF EXCHANGE RATE CHANGES ON CASH — — (0.2) — (0.2) NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (20.4) 13.0 (52.4) — (59.8) CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 22.0 270.9 593.8 — 886.7 CASH AND CASH EQUIVALENTS AT END OF YEAR $ 1.6 $ 283.9 $ 541.4 $ — $ 826.9 Condensed Consolidating Statements of Cash Flows (unaudited - in millions) For the six months ended March 31, 2018 Non- Guarantor Guarantor Parent Subsidiaries Subsidiaries Eliminations Total CASH FLOWS FROM OPERATING ACTIVITIES $ (149.6) $ 121.0 $ 199.4 $ — $ 170.8 CASH FLOWS FROM INVESTING ACTIVITIES: Proceeds from purchase price adjustment to business acquisition — — 2.2 — 2.2 Cash acquired from consolidation of joint venture — — 7.6 — 7.6 Net investment in unconsolidated joint ventures (3.7) (9.3) (42.6) — (55.6) Proceeds from sale of investments — — 0.2 — 0.2 Payments for capital expenditures, net of disposals (6.7) (26.6) (8.9) — (42.2) Net investment in intercompany notes (1.7) (611.1) (61.9) 674.7 — Other intercompany investing activities 5.9 627.3 — (633.2) — Net cash used in investing activities (6.2) (19.7) (103.4) 41.5 (87.8) CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from borrowings under credit agreements 5,049.0 — 664.4 — 5,713.4 Repayments of borrowings under credit agreements (4,743.9) (9.5) (83.1) — (4,836.5) Redemption of unsecured senior notes (800.0) — — — (800.0) Prepayment premium on redemption of unsecured senior notes (34.5) — — — (34.5) Cash paid for debt issuance costs (10.4) — — — (10.4) Proceeds from issuance of common stock 15.5 — — — 15.5 Proceeds from exercise of stock options 3.2 — — — 3.2 Payments to repurchase common stock (27.2) — — — (27.2) Net distributions to noncontrolling interests — — (24.1) — (24.1) Other financing activities 6.2 (48.0) 18.1 — (23.7) Net borrowings (repayments) on intercompany notes 669.9 (16.7) 21.5 (674.7) — Other intercompany financing activities — (19.7) (613.5) 633.2 — Net cash provided by (used in) financing activities 127.8 (93.9) (16.7) (41.5) (24.3) EFFECT OF EXCHANGE RATE CHANGES ON CASH — — 6.1 — 6.1 NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (28.0) 7.4 85.4 — 64.8 CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 32.6 254.9 514.9 — 802.4 CASH AND CASH EQUIVALENTS AT END OF YEAR $ 4.6 $ 262.3 $ 600.3 $ — $ 867.2

Basis of Presentation (Details)

Basis of Presentation (Details)	6 Months Ended
	Mar. 31, 2019
Minimum
Length of fiscal year	364 days
Maximum
Length of fiscal year	371 days

New Accounting Pronouncements_2

New Accounting Pronouncements and Changes in Accounting (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Oct. 01, 2018	Sep. 30, 2018
New Accounting Pronouncements and Changes in Accounting
Other non-current assets	$ 212,415		$ 228,682
Retained earnings	$ 1,005,086		$ 948,148
Accounting Standards Update 2014-09
New Accounting Pronouncements and Changes in Accounting
Retained earnings		$ 7,000
Accounting Standards Update 2016-16
New Accounting Pronouncements and Changes in Accounting
Other non-current assets		(5,500)
Retained earnings		$ (5,500)

Business Acquisitions, Goodwi_3

Business Acquisitions, Goodwill and Intangible Assets (Details) $ in Millions	12 Months Ended
	Sep. 30, 2018USD ($)item
Business Acquisitions, Goodwill and Intangible Assets
Number of acquisitions | item	1
Total consideration | $	$ 5.6

Business Acquisitions, Goodwi_4

Business Acquisitions, Goodwill and Intangible Assets - Disposal Group (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended	12 Months Ended
	Jun. 30, 2018	Mar. 31, 2018	Mar. 31, 2018	Sep. 30, 2018	Mar. 31, 2019
Classification of related assets and liabilities of the Disposal Group as held for sale in the consolidated balance sheet
Impairment of assets held for sale, including goodwill		$ 168,178	$ 168,178
Construction Services
Classification of related assets and liabilities of the Disposal Group as held for sale in the consolidated balance sheet
Impairment of assets held for sale, including goodwill		168,200	$ 168,200
Construction Services
Classification of related assets and liabilities of the Disposal Group as held for sale in the consolidated balance sheet
Impairment of assets held for sale, including goodwill		$ 168,200
Construction Services | Disposal Group as held for sale
Classification of related assets and liabilities of the Disposal Group as held for sale in the consolidated balance sheet
Loss on disposal of portion of assets in the disposal group	$ 2,100
Impairment of goodwill				$ 125,400
Impairment of intangible and other noncurrent assets				$ 42,800
Accounts receivable included in Current assets held for sale					$ 37,200
Property plant and equipment included in Current assets held for sale					17,500
Accounts payable included in Current liabilities held for sale					$ 17,000

Business Acquisitions, Goodwi_5

Business Acquisitions, Goodwill and Intangible Assets - Goodwill (Details) $ in Thousands	6 Months Ended
	Mar. 31, 2019USD ($)
Changes in the carrying value of goodwill by reporting segment
Goodwill at the beginning of the period	$ 5,921,116
Foreign Exchange Impact	(12,900)
Goodwill at the end of the period	5,908,248
Design and Consulting Services
Changes in the carrying value of goodwill by reporting segment
Goodwill at the beginning of the period	3,189,200
Foreign Exchange Impact	(9,100)
Goodwill at the end of the period	3,180,100
Construction Services
Changes in the carrying value of goodwill by reporting segment
Goodwill at the beginning of the period	1,008,900
Foreign Exchange Impact	(4,000)
Goodwill at the end of the period	1,004,900
Management Services
Changes in the carrying value of goodwill by reporting segment
Goodwill at the beginning of the period	1,723,000
Foreign Exchange Impact	200
Goodwill at the end of the period	$ 1,723,200

Business Acquisitions, Goodwi_6

Business Acquisitions, Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Mar. 31, 2019	Sep. 30, 2018
Identifiable intangible assets with finite useful lives
Gross Amount	$ 1,304,000	$ 1,303,400
Accumulated Amortization	(1,026,800)	(983,500)
Intangible Assets, Net	277,208	319,892
Backlog and customer relationships
Identifiable intangible assets with finite useful lives
Gross Amount	1,285,700	1,285,100
Accumulated Amortization	(1,009,100)	(966,000)
Intangible Assets, Net	$ 276,600	$ 319,100
Backlog and customer relationships | Minimum
Identifiable intangible assets with finite useful lives
Amortization Period	1 year	1 year
Backlog and customer relationships | Maximum
Identifiable intangible assets with finite useful lives
Amortization Period	11 years	11 years
Trademark / tradename
Identifiable intangible assets with finite useful lives
Gross Amount	$ 18,300	$ 18,300
Accumulated Amortization	(17,700)	(17,500)
Intangible Assets, Net	$ 600	$ 800
Trademark / tradename | Minimum
Identifiable intangible assets with finite useful lives
Amortization Period	3 months 18 days	3 months 18 days
Trademark / tradename | Maximum
Identifiable intangible assets with finite useful lives
Amortization Period	2 years	2 years

Business Acquisitions, Goodwi_7

Business Acquisitions, Goodwill and Intangible Assets - Amortization Expense (Details) - USD ($) $ in Thousands	6 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Sep. 30, 2018
Business Acquisitions, Goodwill and Intangible Assets
Amortization expense	$ 43,300	$ 50,800
Estimated amortization expense for the succeeding years
2019 (six months remaining)	41,500
2020	69,600
2021	56,600
2022	43,900
2023	39,500
Thereafter	26,100
Intangible Assets, Net	$ 277,208		$ 319,892

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018	Oct. 01, 2018	Sep. 30, 2018
Revenue Recognition
Retained earnings	$ 1,005,086		$ 1,005,086			$ 948,148
Revenue	5,040,022	$ 4,790,910	10,077,517	$ 9,701,742
Construction Services
Revenue Recognition
Revenue	$ 1,917,800	$ 1,888,300	3,932,300	$ 4,013,800
Accounting Standards Update 2014-09
Revenue Recognition
Retained earnings					$ 7,000
Accounting Standards Update 2014-09 | Construction Services
Revenue Recognition
Revenue			$ 3,300

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregated revenues (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
Revenue Recognition
Revenue	$ 5,040,022	$ 4,790,910	$ 10,077,517	$ 9,701,742
Cost reimbursable
Revenue Recognition
Revenue	2,567,900	2,251,700	5,139,500	4,608,900
Guaranteed maximum price
Revenue Recognition
Revenue	1,003,600	1,149,800	2,027,600	2,328,400
Fixed price
Revenue Recognition
Revenue	1,468,500	1,389,400	2,910,400	2,764,400
Americas
Revenue Recognition
Revenue	4,025,700	3,784,800	8,096,100	7,713,500
Europe, Middle East, Africa
Revenue Recognition
Revenue	577,100	632,400	1,127,200	1,221,700
Asia Pacific
Revenue Recognition
Revenue	$ 437,200	$ 373,700	$ 854,200	$ 766,500

Revenue Recognition - Performan

Revenue Recognition - Performance obligations (Details) $ in Billions	Mar. 31, 2019USD ($)
Revenue Recognition
Performance obligation	$ 22.9
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-04-01
Revenue Recognition
Percentage of remaining performance obligation expected to be recognized in period	55.00%
Revenue, remaining performance obligations
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	12 months

Revenue Recognition - Accounts

Revenue Recognition - Accounts receivable, net (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Mar. 31, 2019	Sep. 30, 2018
Billed	$ 2,685,100	$ 2,697,700
Contract retentions	652,400	661,700
Total accounts receivable-gross	3,337,500	3,359,400
Allowance for doubtful accounts	(51,600)	(51,600)
Total accounts receivable-net	$ 3,285,939	$ 3,307,851
Additional disclosures
Unbilled receivables are expected to be billed and collected (in months)	12 months	12 months
Significant claims recorded in contract assets and other non-current assets	$ 360,000	$ 266,000
Trade receivables sold, outstanding	$ 357,800	$ 334,200
Other than U.S government outstanding receivables
Additional disclosures
Number of clients	0	0
Outstanding receivables (as a percent)	10.00%	10.00%

Joint Ventures and Variable I_3

Joint Ventures and Variable Interest Entities - Consolidated (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2019USD ($)employee	Mar. 31, 2018USD ($)	Mar. 31, 2019USD ($)employee	Mar. 31, 2018USD ($)	Dec. 31, 2018USD ($)	Sep. 30, 2018USD ($)	Dec. 31, 2017USD ($)	Sep. 30, 2017USD ($)
Financial Information
Minimum number of employees | employee	0		0
Current assets	$ 7,240,640		$ 7,240,640			$ 7,127,322
TOTAL ASSETS	14,737,023		14,737,023			14,681,131
Current liabilities	5,890,187		5,890,187			6,129,677
TOTAL LIABILITIES	10,342,149		10,342,149			10,402,757
Total AECOM equity	4,199,936		4,199,936			4,092,780
Noncontrolling interests	194,938		194,938			185,594
TOTAL STOCKHOLDERS' EQUITY	4,394,874	$ 4,264,625	4,394,874	$ 4,264,625	$ 4,250,429	4,278,374	$ 4,330,781	$ 4,214,686
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	14,737,023		14,737,023			14,681,131
Joint ventures summarized financial information
Revenue	5,040,022	$ 4,790,910	10,077,517	9,701,742
Consolidated Joint Ventures
Financial Information
Current assets	961,500		961,500			1,013,700
Non-current assets	181,200		181,200			192,700
TOTAL ASSETS	1,142,700		1,142,700			1,206,400
Current liabilities	683,200		683,200			724,200
Non-current liabilities	12,500		12,500			12,700
TOTAL LIABILITIES	695,700		695,700			736,900
Total AECOM equity	252,800		252,800			284,200
Noncontrolling interests	194,200		194,200			185,300
TOTAL STOCKHOLDERS' EQUITY	447,000		447,000			469,500
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 1,142,700		1,142,700			$ 1,206,400
Joint ventures summarized financial information
Revenue			$ 1,244,400	$ 1,202,600

Joint Ventures and Variable I_4

Joint Ventures and Variable Interest Entities - Unconsolidated (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2019	Mar. 31, 2018	Sep. 30, 2018	Sep. 30, 2017
Financial Information
Current assets	$ 7,240,640				$ 7,240,640		$ 7,127,322
TOTAL ASSETS	14,737,023				14,737,023		14,681,131
Current liabilities	5,890,187				5,890,187		6,129,677
TOTAL LIABILITIES	10,342,149				10,342,149		10,402,757
Joint ventures' equity	4,394,874	$ 4,250,429	$ 4,264,625	$ 4,330,781	4,394,874	$ 4,264,625	4,278,374	$ 4,214,686
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	14,737,023				14,737,023		14,681,131
AECOM's investment in joint ventures	338,431				338,431		310,661
Joint ventures summarized financial information
Revenue	5,040,022		4,790,910		10,077,517	9,701,742
Cost of revenue	4,844,660		4,649,638		9,711,542	9,424,318
Gross profit	195,362		141,272		365,975	277,424
Net income	93,519	$ 65,086	$ (107,755)	$ 124,413	158,605	16,658
Unconsolidated Joint Ventures
Financial Information
Current assets	1,790,400				1,790,400		1,903,300
Non-current assets	1,008,500				1,008,500		938,300
TOTAL ASSETS	2,798,900				2,798,900		2,841,600
Current liabilities	1,551,800				1,551,800		1,658,500
Non-current liabilities	246,500				246,500		224,300
TOTAL LIABILITIES	1,798,300				1,798,300		1,882,800
Joint ventures' equity	1,000,600				1,000,600		958,800
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	2,798,900				2,798,900		2,841,600
AECOM's investment in joint ventures	$ 338,400				338,400		$ 310,700
Joint ventures summarized financial information
Revenue					2,404,900	2,814,800
Cost of revenue					2,313,300	2,683,000
Gross profit					91,600	131,800
Net income					$ 90,500	$ 127,700

Joint Ventures and Variable I_5

Joint Ventures and Variable Interest Entities - Equity in Earnings (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
Financial Information
Equity in earnings of joint ventures	$ 25,963	$ 13,038	$ 38,467	$ 42,758
Unconsolidated Joint Ventures | Pass through joint ventures
Financial Information
Equity in earnings of joint ventures			16,000	20,200
Unconsolidated Joint Ventures | Other joint ventures
Financial Information
Equity in earnings of joint ventures			$ 22,400	$ 22,600

Pension Benefit Obligations (De

Pension Benefit Obligations (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
United States
Components of net periodic benefit cost:
Service costs		$ 1.2		$ 2.4
Interest cost on projected benefit obligation	$ 6	5.2	$ 11.9	10.4
Expected return on plan assets	(6.9)	(7.8)	(13.7)	(15.7)
Amortization of net loss	0.9	1	1.8	2
Settlement loss recognized	0.1		0.1
Net periodic benefit cost	0.1	(0.4)	0.1	(0.9)
Change in benefit obligation:
Employer contributions			4.9
Expected remaining scheduled annual employer contributions for the current fiscal year	9.4		9.4
Foreign Pension Plan, Defined Benefit
Components of net periodic benefit cost:
Service costs	0.1	0.3	0.2	0.6
Interest cost on projected benefit obligation	7.7	8.3	15.1	16.2
Expected return on plan assets	(9.8)	(11.1)	(19.3)	(21.8)
Amortization of prior service costs	(0.1)	(0.1)	(0.1)	(0.1)
Amortization of net loss	1.1	2.2	2.1	4.2
Settlement loss recognized		0.1	0.1	0.2
Net periodic benefit cost	(1)	$ (0.3)	(1.9)	$ (0.7)
Change in benefit obligation:
Employer contributions			14.9
Expected remaining scheduled annual employer contributions for the current fiscal year	$ 12.4		$ 12.4

Debt (Details)

Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Sep. 30, 2018	Oct. 17, 2014
Debt
Total debt	$ 3,933,800	$ 3,673,500
Less: Current portion of debt and short-term borrowings	(158,300)	(143,100)
Less: Unamortized debt issuance costs	(41,900)	(46,700)
Long-term debt	3,733,642	3,483,746
2014 Credit Agreement
Debt
Total debt	1,669,000	1,433,800
2014 Senior Notes
Debt
Total debt	800,000	800,000
2017 Senior Notes
Debt
Total debt	1,000,000	1,000,000
URS Senior Notes
Debt
Total debt	247,900	247,900	$ 1,000,000
Other Debt
Debt
Total debt	$ 216,900	$ 191,800

Debt - Scheduled Maturities (De

Debt - Scheduled Maturities (Details) - USD ($) $ in Millions	Mar. 31, 2019	Sep. 30, 2018
Scheduled maturities of debt:
2019 (six months remaining)	$ 100.9
2020	104.9
2021	344.9
2022	310.1
2023	736.2
Thereafter	2,336.8
Total debt	$ 3,933.8	$ 3,673.5

Debt - 2014 Credit Agreement (D

Debt - 2014 Credit Agreement (Details) $ in Millions, $ in Millions, $ in Millions	Oct. 01, 2019	Jul. 01, 2018	Mar. 13, 2018USD ($)	Mar. 31, 2017	Sep. 29, 2016USD ($)	Oct. 17, 2014USD ($)	Mar. 31, 2019USD ($)	Sep. 30, 2018USD ($)	Mar. 13, 2018CAD ($)	Mar. 13, 2018AUD ($)	Mar. 13, 2018USD ($)
Term loan A
Debt agreements
Borrowing capacity					$ 185
2014 Credit Agreement | Minimum | Base Rate
Debt agreements
Interest rate, basis spread (as a percent)		0.25%
2014 Credit Agreement | Minimum | Euro currency rate
Debt agreements
Interest rate, basis spread (as a percent)		1.25%
2014 Credit Agreement | Maximum | Base Rate
Debt agreements
Interest rate, basis spread (as a percent)		1.00%
2014 Credit Agreement | Maximum | Euro currency rate
Debt agreements
Interest rate, basis spread (as a percent)		2.00%
2014 Credit Agreement | Term loan A
Debt agreements
Borrowing capacity									$ 500	$ 250	$ 510
2014 Credit Agreement | Term loan A | Base Rate | USD
Debt agreements
Interest rate, basis spread (as a percent)			0.50%
2014 Credit Agreement | Term loan A | Euro currency rate
Debt agreements
Interest rate, basis spread (as a percent)			1.50%
2014 Credit Agreement | Term loan B
Debt agreements
Borrowing capacity											$ 600
2014 Credit Agreement | Term loan B | Base Rate
Debt agreements
Interest rate, basis spread (as a percent)			0.75%
2014 Credit Agreement | Term loan B | Euro currency rate
Debt agreements
Interest rate, basis spread (as a percent)			1.75%
2014 Credit Agreement | Revolving credit facility
Debt agreements
Increase in borrowing capacity			$ 1,350			$ 1,050
Outstanding letters of credit							$ 25.6	$ 28.7
Remaining borrowing capacity under credit facility							$ 1,039.3	$ 1,321.3
2014 Credit Agreement | Revolving credit facility | Base Rate
Debt agreements
Interest rate, basis spread (as a percent)			0.75%
2014 Credit Agreement | Revolving credit facility | Euro currency rate
Debt agreements
Interest rate, basis spread (as a percent)			1.75%
2014 Credit Agreement | Line of credit
Debt agreements
Borrowing capacity					$ 500
Consolidated leverage ratio	4		4.5	4.75	5		4.1
Consolidated interest coverage ratio							4.6

Debt - 2014 Senior Notes (Detai

Debt - 2014 Senior Notes (Details) - USD ($)	Mar. 16, 2018	Oct. 06, 2014	Mar. 31, 2019
The 2022 Notes
Debt
Redemption price equal to principal amount (in percent)	104.313%
Prepayment premium redemption	$ 34,500,000
2014 Senior Notes | The 2022 Notes
Debt
Principal amount		$ 800,000,000
Interest rate (as a percent)		5.75%
2014 Senior Notes | The 2024 Notes
Debt
Principal amount		$ 800,000,000
Interest rate (as a percent)		5.875%
Fair value of debt instrument			$ 844,000,000
2014 Senior Notes | The 2024 Notes | Prior to July 15 2024
Debt
Redemption price equal to principal amount (in percent)		100.00%
2014 Senior Notes | The 2024 Notes | On or after July 15, 2024
Debt
Redemption price equal to principal amount (in percent)		100.00%

Debt - 2017 Senior Notes (Detai

Debt - 2017 Senior Notes (Details) - USD ($)	Feb. 21, 2017	Mar. 31, 2019
Term loan B
Debt
Amount of debt redeemed	$ 127,600,000
Term loan A
Debt
Amount of debt redeemed	600,000,000
Revolving credit facility
Debt
Amount of debt redeemed	250,000,000
2017 Senior Notes
Debt
Principal amount	$ 1,000,000,000
Fair value of debt instrument		$ 965,000,000
Interest rate (as a percent)	5.125%
2017 Senior Notes | At any time and from time to time prior to December 15, 2026
Debt
Redemption price equal to principal amount (in percent)	100.00%
2017 Senior Notes | At any time and from time to time prior to March 15, 2020
Debt
Maximum principal amount that can be redeemed using proceeds from equity offerings(in percent)	35.00%
Redemption price equal to principal using proceeds from equity offerings (in percent)	105.125%
2017 Senior Notes | At any time on or after December 15, 2026
Debt
Redemption price equal to principal amount (in percent)	100.00%

Debt - URS Senior Notes (Detail

Debt - URS Senior Notes (Details) - USD ($) $ in Millions	Oct. 24, 2014	Mar. 31, 2019	Sep. 30, 2018	Apr. 03, 2017	Feb. 21, 2017	Sep. 29, 2016	Oct. 17, 2014
Debt
Debt		$ 3,933.8	$ 3,673.5
Term loan A
Debt
Amount of debt redeemed					$ 600
Borrowing capacity						$ 185
URS Senior Notes
Debt
Debt		247.9	$ 247.9				$ 1,000
Redemption price equal to principal using proceeds from equity offerings (in percent)	101.00%
Amount of debt redeemed	$ 572.3
URS Senior Notes | 2017 URS Senior Notes
Debt
Interest rate (as a percent)							3.85%
Amount of debt redeemed				$ 179.2
URS Senior Notes | 2022 URS Senior Notes
Debt
Interest rate (as a percent)							5.00%
Debt		247.9
Fair value of debt instrument		$ 252.2

Debt - Other Debt and Other Ite

Debt - Other Debt and Other Items (Details) - Other Debt - Standby letter of credit - USD ($) $ in Millions	Mar. 31, 2019	Sep. 30, 2018
Debt
Outstanding letters of credit	$ 486.3	$ 486.4
Remaining borrowing capacity under credit facility	$ 499.1

Debt - Effective Interest Rate

Debt - Effective Interest Rate (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
Debt
Effective interest rate including effects of interest rate swap agreements			4.7%	4.7%
Amortization of deferred debt issuance costs	$ 2.4	$ 9.8	$ 4.8	$ 12.6

Derivative Financial Instrume_3

Derivative Financial Instruments and Fair Value Measurements - Cash Flow Hedges (Details) - Designated as Hedging Instrument - Cash Flow Hedging $ in Millions, $ in Millions	Mar. 31, 2019AUD ($)	Mar. 31, 2019USD ($)	Sep. 30, 2018AUD ($)	Sep. 30, 2018USD ($)
Interest Rate Swap February 2021 | AUD
Derivative financial instruments
Notional Amount		$ 200		$ 200
Fixed Rate (as a percent)	2.19%	2.19%	2.19%	2.19%
Interest Rate Swap September 2022 | CAD
Derivative financial instruments
Notional Amount		$ 400		$ 400
Fixed Rate (as a percent)	2.49%	2.49%	2.49%	2.49%
Interest Rate Swap February 2023 | USD
Derivative financial instruments
Notional Amount		$ 200		$ 200
Fixed Rate (as a percent)	2.60%	2.60%	2.60%	2.60%
Foreign currency contracts
Derivative financial instruments
Notional Amount	$ 41.5	$ 31.3	$ 65.2	$ 49.1

Derivative Financial Instrume_4

Derivative Financial Instruments and Fair Value Measurements - Fair Value Measurements (Details) - USD ($)	6 Months Ended
	Mar. 31, 2019	Sep. 30, 2018
Level 3
Derivative financial instruments
Fair value of contingent consideration liability	$ 11,000,000	$ 11,000,000
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

Share-based Payments (Details)

Share-based Payments (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	6 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Sep. 30, 2018
Stock options, Weighted Average Exercise Price
Vesting period	3 years		3 years
Recognized compensation expense	$ 31.8	$ 37.2
Unrecognized compensation expense	$ 109		$ 94.3
Employee Stock Option
Shares of stock under options
Balance at the beginning of the period (in shares)	0.6	0.7	0.7
Options exercised (in shares)		(0.1)
Options forfeited or expired ( in shares)	(0.5)
Balance at the end of the period (in shares)	0.1	0.6	0.6
Vested and expected to vest in the future at the end of the period (in shares)	0.1	0.6
Stock options, Weighted Average Exercise Price
Balance at the beginning of the period (in dollars per share)	$ 31.62	$ 31.11	$ 31.11
Options exercised (in dollars per share)		27.79
Options forfeited or expired (in dollars per share)	31.62
Balance at the end of the period (in dollars per share)	31.62	31.62	$ 31.62
Vested and expected to vest in the future at the end of the period (in dollars per share)	$ 31.62	31.62
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)	$ 27.51	37.69
Restricted Stock Units (RSUs)
Stock options, Weighted Average Exercise Price
Weighted average grant-date fair value of stock options granted (in dollars per share)	$ 27.67	$ 36.91

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Dec. 31, 2018	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018	Sep. 30, 2018
Income Taxes
Effective tax rate (as a percent)			(8.70%)	130.40%
Net benefit from Tax Cuts and Jobs Acts of 2017				$ 41.7
Benefits from change in uncertain tax positions in US and Canada				36
Income tax credits and incentives			$ 12.3	13.7
State income tax expense			$ 7.4
Goodwill impairment charge				$ 33.9
Federal statutory rate (as a percent)			21.00%	24.50%	35.00%
Valuation allowance on foreign tax credits	$ 38.1		$ 38.1
Amount of uncertain tax positions for future years		$ 26.2
Gross book-tax differences from non-U.S. subsidiaries			$ 1,800

Earnings Per Share (Details)

Earnings Per Share (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
Earnings Per Share
Antidilutive potential common shares excluded in computation of diluted loss per share		2,700		3,300
Denominator for basic earnings per share (in shares)	156,621	159,495	156,519	158,702
Potential common shares (in shares)	1,800		2,500
Denominator for diluted earnings per share (in shares)	158,416	159,495	159,010	158,702

Other Financial Information (De

Other Financial Information (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Mar. 31, 2019	Mar. 31, 2019	Mar. 31, 2018	Sep. 30, 2018
Accrued expenses and other current liabilities
Accrued salaries and benefits	$ 878,600	$ 878,600		$ 1,035,900
Accrued contract costs	872,100	872,100		861,000
Other accrued expenses	384,400	384,400		370,100
Total accrued expenses	2,135,122	2,135,122		2,267,046
Accounts receivable-net	3,285,939	3,285,939		3,307,851
Restructuring costs	15,875	79,170
Accrued restructuring expenses	39,900	39,900
Severance expense			$ 25,600
Minimum
Accrued expenses and other current liabilities
Estimated restructuring costs	80,000	80,000
Maximum
Accrued expenses and other current liabilities
Estimated restructuring costs	90,000	90,000
Severance and personnel costs
Accrued expenses and other current liabilities
Restructuring costs		57,100
Real estate costs
Accrued expenses and other current liabilities
Restructuring costs		22,100
Accelerated recovery of pension entitlement
Accrued expenses and other current liabilities
Accounts receivable-net	50,000	50,000
Professional liability accrual
Accrued expenses and other current liabilities
Accrued contract costs	$ 468,300	$ 468,300		$ 519,500

Reclassifications out of Accu_3

Reclassifications out of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
Accumulated balances
Balance at the beginning of the period	$ (726,100)	$ (704,200)	$ (703,330)	$ (700,700)
Other comprehensive (loss) income before reclassification	12,900	(5,400)	(11,900)	(11,700)
Amounts reclassified from accumulated other comprehensive loss	2,200	2,600	4,200	5,400
Balance at the end of the period	(711,021)	(707,000)	(711,021)	(707,000)
Pension Related Adjustments
Accumulated balances
Balance at the beginning of the period	(197,000)	(279,400)	(202,300)	(281,900)
Other comprehensive (loss) income before reclassification	(5,000)	(18,800)	(1,200)	(18,800)
Amounts reclassified from accumulated other comprehensive loss	1,600	2,700	3,100	5,200
Balance at the end of the period	(200,400)	(295,500)	(200,400)	(295,500)
Foreign Currency Translation Adjustments
Accumulated balances
Balance at the beginning of the period	(524,000)	(425,200)	(502,200)	(418,400)
Other comprehensive (loss) income before reclassification	22,500	15,000	700	8,200
Balance at the end of the period	(501,500)	(410,200)	(501,500)	(410,200)
Gain(/Loss) on Derivative Instruments
Accumulated balances
Balance at the beginning of the period	(5,100)	400	1,200	(400)
Other comprehensive (loss) income before reclassification	(4,600)	(1,600)	(11,400)	(1,100)
Amounts reclassified from accumulated other comprehensive loss	600	(100)	1,100	200
Balance at the end of the period	$ (9,100)	$ (1,300)	$ (9,100)	$ (1,300)

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	Mar. 25, 2019	May 24, 2018	Jul. 21, 2017	Jul. 03, 2017	Apr. 01, 2017	Dec. 31, 2014	Mar. 31, 2019	Apr. 30, 2019	Sep. 02, 2016
Advatech LLC
Commitments and Contingencies
Percentage of ownership in joint venture							60.00%
Advatech LLC | Genco
Commitments and Contingencies
Damages claimed, value			$ 81
Damages paid, value	$ 41
Invoice amount									$ 81
DOE Deactivation, Demolition, And Removal Project | Department of Energy | Maximum
Commitments and Contingencies
Cost-reimbursement at risk							$ 106
DOE Deactivation, Demolition, And Removal Project | AECOM E&C and DOE | Minimum
Commitments and Contingencies
Cost-reimbursement at risk							106
DOE Deactivation, Demolition, And Removal Project | AECOM E&C and DOE | Maximum
Commitments and Contingencies
Cost-reimbursement at risk							146
DOE Deactivation, Demolition, And Removal Project | AECOM E&C
Commitments and Contingencies
Claim to DOE, including additional fees						$ 103
Possible costs which may exceed contracted amounts						$ 100
DOE Deactivation, Demolition, And Removal Project | AECOM E&C | Minimum
Commitments and Contingencies
Cost-reimbursement at risk							146
Refinery Turnaround Project | AECOM E&C
Commitments and Contingencies
Recoverable from refinery owner							90
Loss contingency, receivable amount								$ 132
AECOM-Canyon Equity Fund, L.P
Commitments and Contingencies
Capital commitments							$ 35
Term of capital commitments							10 years
URS | Design build contractor
Commitments and Contingencies
Damages claimed, value		$ 11.9		$ 70	$ 8.2
Subsequent damages claimed, value				$ 95
Standby letter of credit
Commitments and Contingencies
Contingency liability							$ 511.9
Surety Bond
Commitments and Contingencies
Surety bonds issued							$ 5,400

Reportable Segments (Details)

Reportable Segments (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2019USD ($)	Mar. 31, 2018USD ($)	Mar. 31, 2019USD ($)segment	Mar. 31, 2018USD ($)	Sep. 30, 2018USD ($)
Summarized financial information concerning the Company's reportable segments
Number of reportable segments | segment			4
Revenue	$ 5,040,022	$ 4,790,910	$ 10,077,517	$ 9,701,742
Gross profit (loss)	195,362	141,272	365,975	277,424
Equity in earnings of joint ventures	25,963	13,038	38,467	42,758
General and administrative expenses	(37,426)	(30,217)	(73,333)	(64,887)
Restructuring costs	(15,875)		(79,170)
Impairment on assets held for sale, including goodwill		(168,178)		(168,178)
Operating income (loss)	168,024	$ (44,085)	251,939	$ 87,117
Total assets	$ 14,737,023		$ 14,737,023		$ 14,681,131
Gross profit (loss) as a % of revenue	3.90%	2.90%	3.60%	2.90%
Corporate
Summarized financial information concerning the Company's reportable segments
General and administrative expenses	$ (35,700)	$ (27,300)	$ (69,900)	$ (59,400)
Restructuring costs	(15,900)		(79,200)
Operating income (loss)	(51,600)	(27,300)	(149,100)	(59,400)
Total assets	548,700		548,700		613,500
Design and Consulting Services
Summarized financial information concerning the Company's reportable segments
Revenue	2,100,800	2,004,700	4,130,500	3,946,600
Gross profit (loss)	129,800	120,300	245,500	198,100
Equity in earnings of joint ventures	5,500	2,800	9,300	10,300
Operating income (loss)	135,300	$ 123,100	254,800	$ 208,400
Total assets	$ 7,127,800		$ 7,127,800		7,013,800
Gross profit (loss) as a % of revenue	6.20%	6.00%	5.90%	5.00%
Construction Services
Summarized financial information concerning the Company's reportable segments
Revenue	$ 1,917,800	$ 1,888,300	$ 3,932,300	$ 4,013,800
Gross profit (loss)	16,700	(13,300)	19,900	13,800
Equity in earnings of joint ventures	6,800	1,200	14,700	14,600
Impairment on assets held for sale, including goodwill		(168,200)		(168,200)
Operating income (loss)	23,500	$ (180,300)	34,600	$ (139,800)
Total assets	$ 4,211,600		$ 4,211,600		4,212,000
Gross profit (loss) as a % of revenue	0.90%	(0.70%)	0.50%	0.30%
Management Services
Summarized financial information concerning the Company's reportable segments
Revenue	$ 1,019,900	$ 897,900	$ 2,009,300	$ 1,741,300
Gross profit (loss)	47,400	34,200	95,200	65,500
Equity in earnings of joint ventures	3,900	9,100	7,200	17,900
Operating income (loss)	51,300	$ 43,300	102,400	$ 83,400
Total assets	$ 2,683,200		$ 2,683,200		2,701,200
Gross profit (loss) as a % of revenue	4.60%	3.80%	4.70%	3.80%
AECOM Capital
Summarized financial information concerning the Company's reportable segments
Revenue	$ 1,500		$ 5,400
Gross profit (loss)	1,500		5,400
Equity in earnings of joint ventures	9,700		7,200
General and administrative expenses	(1,700)	$ (2,900)	(3,400)	$ (5,500)
Operating income (loss)	9,500	$ (2,900)	9,200	$ (5,500)
Total assets	$ 165,700		$ 165,700		$ 140,600

Condensed Consolidating Finan_3

Condensed Consolidating Financial Information - Debt (Details)	Oct. 06, 2014
Condensed Consolidating Financial Information
Ownership of directly and indirectly owned subsidiaries (as a percent)	100.00%

Condensed Consolidating Finan_4

Condensed Consolidating Financial Information - Balance Sheets (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017
CURRENT ASSETS:
Total cash and cash equivalents	$ 826,878		$ 886,733
Accounts receivable and contract assets-net	5,712,800		5,468,800
Prepaid expenses and other current assets	592,189		585,152
Current assets held for sale	55,000		59,800
Income taxes receivable	53,742		126,816
TOTAL CURRENT ASSETS	7,240,640		7,127,322
PROPERTY AND EQUIPMENT-NET	596,374		614,062
DEFERRED TAX ASSETS-NET	163,707		159,396
INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES	338,431		310,661
GOODWILL	5,908,248		5,921,116
INTANGIBLE ASSETS-NET	277,208		319,892
OTHER NON-CURRENT ASSETS	212,415		228,682
TOTAL ASSETS	14,737,023		14,681,131
CURRENT LIABILITIES:
Short-term debt	48,377		8,353
Accounts payable	2,581,347		2,726,047
Accrued expenses and other current liabilities	2,135,122		2,267,046
Income taxes payable	36,305		39,802
Contract liabilities	962,101		931,431
Current liabilities held for sale	17,000		22,300
Current portion of long-term debt	109,935		134,698
TOTAL CURRENT LIABILITIES	5,890,187		6,129,677
OTHER LONG-TERM LIABILITIES	710,000		742,100
DEFERRED TAX LIABILITY-NET	8,343		47,273
LONG-TERM DEBT	3,733,642		3,483,746
TOTAL LIABILITIES	10,342,149		10,402,757
TOTAL AECOM STOCKHOLDERS' EQUITY	4,199,936		4,092,780
Noncontrolling interests	194,938		185,594
TOTAL STOCKHOLDERS' EQUITY	4,394,874	$ 4,250,429	4,278,374	$ 4,264,625	$ 4,330,781	$ 4,214,686
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	14,737,023		14,681,131
Eliminations
CURRENT ASSETS:
Intercompany receivable	(1,312,500)		(1,193,900)
TOTAL CURRENT ASSETS	(1,312,500)		(1,193,900)
DEFERRED TAX ASSETS-NET	(163,600)		(124,600)
INVESTMENTS IN CONSOLIDATED SUBSIDIARIES	(8,754,000)		(8,276,100)
TOTAL ASSETS	(10,230,100)		(9,594,600)
CURRENT LIABILITIES:
Intercompany payable	(1,532,200)		(1,353,200)
TOTAL CURRENT LIABILITIES	(1,532,200)		(1,353,200)
DEFERRED TAX LIABILITY-NET	(163,600)		(124,700)
NOTE PAYABLE INTERCOMPANY-NON CURRENT	(1,310,300)		(1,288,400)
TOTAL LIABILITIES	(3,006,100)		(2,766,300)
TOTAL AECOM STOCKHOLDERS' EQUITY	(7,224,000)		(6,828,300)
TOTAL STOCKHOLDERS' EQUITY	(7,224,000)		(6,828,300)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	(10,230,100)		(9,594,600)
Parent | Reportable Legal Entities
CURRENT ASSETS:
Total cash and cash equivalents	1,600		22,000
Intercompany receivable	1,006,800		951,100
Prepaid expenses and other current assets	71,000		52,900
Income taxes receivable	11,500		84,600
TOTAL CURRENT ASSETS	1,090,900		1,110,600
PROPERTY AND EQUIPMENT-NET	203,600		202,600
DEFERRED TAX ASSETS-NET	172,100		134,000
INVESTMENTS IN CONSOLIDATED SUBSIDIARIES	6,703,700		6,364,100
INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES	7,600		13,400
OTHER NON-CURRENT ASSETS	35,500		49,900
TOTAL ASSETS	8,213,400		7,874,600
CURRENT LIABILITIES:
Short-term debt	18,400		8,400
Accounts payable	31,100		53,600
Accrued expenses and other current liabilities	62,500		58,800
Income taxes payable	15,200		10,400
Intercompany payable	111,100		105,500
Contract liabilities			1,500
Current portion of long-term debt	43,500		43,300
TOTAL CURRENT LIABILITIES	281,800		281,500
OTHER LONG-TERM LIABILITIES	118,600		131,600
NOTE PAYABLE INTERCOMPANY-NON CURRENT	811,700		800,900
LONG-TERM DEBT	2,902,400		2,627,800
TOTAL LIABILITIES	4,114,500		3,841,800
TOTAL AECOM STOCKHOLDERS' EQUITY	4,098,900		4,032,800
TOTAL STOCKHOLDERS' EQUITY	4,098,900		4,032,800
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	8,213,400		7,874,600
Guarantor Subsidiaries | Reportable Legal Entities
CURRENT ASSETS:
Total cash and cash equivalents	283,900		270,900
Accounts receivable and contract assets-net	2,653,600		2,544,700
Intercompany receivable	119,900		84,900
Prepaid expenses and other current assets	260,200		331,600
TOTAL CURRENT ASSETS	3,317,600		3,232,100
PROPERTY AND EQUIPMENT-NET	202,900		217,300
DEFERRED TAX ASSETS-NET	8,000
INVESTMENTS IN CONSOLIDATED SUBSIDIARIES	2,050,300		1,912,000
INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES	39,300		49,600
GOODWILL	3,392,700		3,392,700
INTANGIBLE ASSETS-NET	195,400		218,600
OTHER NON-CURRENT ASSETS	44,800		45,600
TOTAL ASSETS	9,251,000		9,067,900
CURRENT LIABILITIES:
Accounts payable	1,597,100		1,616,700
Accrued expenses and other current liabilities	920,600		1,035,600
Intercompany payable	868,100		830,800
Contract liabilities	313,800		316,100
Current portion of long-term debt	14,600		27,000
TOTAL CURRENT LIABILITIES	3,714,200		3,826,200
OTHER LONG-TERM LIABILITIES	242,800		249,000
DEFERRED TAX LIABILITY-NET	63,000		63,100
LONG-TERM DEBT	292,200		291,400
TOTAL LIABILITIES	4,312,200		4,429,700
TOTAL AECOM STOCKHOLDERS' EQUITY	4,938,800		4,638,200
TOTAL STOCKHOLDERS' EQUITY	4,938,800		4,638,200
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	9,251,000		9,067,900
Non-Guarantor Subsidiaries | Reportable Legal Entities
CURRENT ASSETS:
Total cash and cash equivalents	541,400		593,800
Accounts receivable and contract assets-net	3,059,200		2,924,100
Intercompany receivable	185,800		157,900
Prepaid expenses and other current assets	261,000		200,700
Current assets held for sale	55,000		59,800
Income taxes receivable	42,200		42,200
TOTAL CURRENT ASSETS	4,144,600		3,978,500
PROPERTY AND EQUIPMENT-NET	189,900		194,200
DEFERRED TAX ASSETS-NET	147,200		150,000
INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES	291,500		247,700
GOODWILL	2,515,500		2,528,400
INTANGIBLE ASSETS-NET	81,800		101,300
OTHER NON-CURRENT ASSETS	132,200		133,100
TOTAL ASSETS	7,502,700		7,333,200
CURRENT LIABILITIES:
Short-term debt	30,000
Accounts payable	953,200		1,055,700
Accrued expenses and other current liabilities	1,152,000		1,172,700
Income taxes payable	21,100		29,400
Intercompany payable	553,000		416,900
Contract liabilities	648,300		613,800
Current liabilities held for sale	17,000		22,300
Current portion of long-term debt	51,800		64,400
TOTAL CURRENT LIABILITIES	3,426,400		3,375,200
OTHER LONG-TERM LIABILITIES	348,600		361,500
DEFERRED TAX LIABILITY-NET	108,900		108,900
NOTE PAYABLE INTERCOMPANY-NON CURRENT	498,600		487,500
LONG-TERM DEBT	539,000		564,500
TOTAL LIABILITIES	4,921,500		4,897,600
TOTAL AECOM STOCKHOLDERS' EQUITY	2,386,300		2,250,100
Noncontrolling interests	194,900		185,500
TOTAL STOCKHOLDERS' EQUITY	2,581,200		2,435,600
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 7,502,700		$ 7,333,200

Condensed Consolidating Finan_5

Condensed Consolidating Financial Information - Operations (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2019	Mar. 31, 2018
Condensed Consolidating Statements of Operations
Revenue	$ 5,040,022		$ 4,790,910		$ 10,077,517	$ 9,701,742
Cost of revenue	4,844,660		4,649,638		9,711,542	9,424,318
Gross profit	195,362		141,272		365,975	277,424
Equity in earnings of joint ventures	25,963		13,038		38,467	42,758
General and administrative expenses	(37,426)		(30,217)		(73,333)	(64,887)
Impairment on assets held for sale, including goodwill			(168,178)			(168,178)
Restructuring costs	(15,875)				(79,170)
Income (loss) from operations	168,024		(44,085)		251,939	87,117
Other income	4,266		12,507		7,863	14,790
Interest expense	(57,828)		(100,577)		(113,854)	(156,742)
Income (loss) before income tax expense (benefit)	114,462		(132,155)		145,948	(54,835)
Income tax (benefit) expense	20,943		(24,400)		(12,657)	(71,493)
Net income (loss)	93,519	$ 65,086	(107,755)	$ 124,413	158,605	16,658
Noncontrolling interests in income of consolidated subsidiaries, net of tax	(15,674)		(11,978)		(29,241)	(25,077)
Net income (loss) attributable to AECOM	77,845		(119,733)		129,364	(8,419)
Eliminations
Condensed Consolidating Statements of Operations
Revenue	(26,200)		(29,800)		(47,100)	(41,800)
Cost of revenue	(26,200)		(29,800)		(47,100)	(41,800)
Equity in earnings from subsidiaries	(312,800)		138,400		(413,900)	(250,900)
Income (loss) from operations	(312,800)		138,400		(413,900)	(250,900)
Other income	(14,400)		(6,800)		(27,700)	(12,800)
Interest expense	14,400		6,800		27,700	12,800
Income (loss) before income tax expense (benefit)	(312,800)		138,400		(413,900)	(250,900)
Net income (loss)	(312,800)		138,400		(413,900)	(250,900)
Net income (loss) attributable to AECOM	(312,800)		138,400		(413,900)	(250,900)
Parent | Reportable Legal Entities
Condensed Consolidating Statements of Operations
Equity in earnings from subsidiaries	162,300		(18,200)		315,800	187,900
General and administrative expenses	(35,700)		(27,300)		(69,900)	(59,400)
Restructuring costs	(15,900)				(79,200)
Income (loss) from operations	110,700		(45,500)		166,700	128,500
Other income	1,100		10,200		2,300	10,400
Interest expense	(52,300)		(93,000)		(101,800)	(145,300)
Income (loss) before income tax expense (benefit)	59,500		(128,300)		67,200	(6,400)
Income tax (benefit) expense	(18,500)		(8,600)		(62,200)	2,000
Net income (loss)	78,000		(119,700)		129,400	(8,400)
Net income (loss) attributable to AECOM	78,000		(119,700)		129,400	(8,400)
Guarantor Subsidiaries | Reportable Legal Entities
Condensed Consolidating Statements of Operations
Revenue	2,724,100		2,690,700		5,427,700	5,412,000
Cost of revenue	2,604,600		2,610,400		5,206,000	5,218,200
Gross profit	119,500		80,300		221,700	193,800
Equity in earnings from subsidiaries	150,500		(120,200)		98,100	63,000
Equity in earnings of joint ventures	(7,600)		6,800		2,300	24,000
Income (loss) from operations	262,400		(33,100)		322,100	280,800
Other income	12,500		5,100		24,400	10,500
Interest expense	(5,600)		(4,300)		(10,600)	(8,900)
Income (loss) before income tax expense (benefit)	269,300		(32,300)		335,900	282,400
Income tax (benefit) expense	23,300		(17,600)		29,100	94,900
Net income (loss)	246,000		(14,700)		306,800	187,500
Net income (loss) attributable to AECOM	246,000		(14,700)		306,800	187,500
Non-Guarantor Subsidiaries | Reportable Legal Entities
Condensed Consolidating Statements of Operations
Revenue	2,342,100		2,130,000		4,696,900	4,331,500
Cost of revenue	2,266,200		2,069,100		4,552,600	4,247,900
Gross profit	75,900		60,900		144,300	83,600
Equity in earnings of joint ventures	33,500		6,300		36,100	18,800
General and administrative expenses	(1,700)		(2,900)		(3,400)	(5,500)
Impairment on assets held for sale, including goodwill			(168,200)			(168,200)
Income (loss) from operations	107,700		(103,900)		177,000	(71,300)
Other income	5,100		4,000		8,900	6,700
Interest expense	(14,400)		(10,000)		(29,200)	(15,300)
Income (loss) before income tax expense (benefit)	98,400		(109,900)		156,700	(79,900)
Income tax (benefit) expense	16,100		1,800		20,400	(168,400)
Net income (loss)	82,300		(111,700)		136,300	88,500
Noncontrolling interests in income of consolidated subsidiaries, net of tax	(15,600)		(12,000)		(29,200)	(25,100)
Net income (loss) attributable to AECOM	$ 66,700		$ (123,700)		$ 107,100	$ 63,400

Condensed Consolidating Finan_6

Condensed Consolidating Financial Information - Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2019	Mar. 31, 2018
Consolidated Statements of Comprehensive Income
Net income	$ 93,519	$ 65,086	$ (107,755)	$ 124,413	$ 158,605	$ 16,658
Other comprehensive (loss) income, net of tax:
Net unrealized loss on derivatives, net of tax	(4,058)		(1,625)		(10,356)	(840)
Foreign currency translation adjustments	22,754		15,496		965	9,513
Pension adjustments, net of tax	(3,427)		(16,103)		1,903	(13,635)
Other comprehensive income (loss), net of tax	15,269	$ (22,757)	(2,232)	$ (2,730)	(7,488)	(4,962)
Comprehensive income (loss), net of tax	108,788		(109,987)		151,117	11,696
Noncontrolling interests in comprehensive income of consolidated subsidiaries, net of tax	(15,819)		(12,562)		(29,444)	(26,454)
Comprehensive income (loss) attributable to AECOM, net of tax	92,969		(122,549)		121,673	(14,758)
Eliminations
Consolidated Statements of Comprehensive Income
Net income	(312,800)		138,400		(413,900)	(250,900)
Other comprehensive (loss) income, net of tax:
Comprehensive income (loss), net of tax	(312,800)		138,400		(413,900)	(250,900)
Comprehensive income (loss) attributable to AECOM, net of tax	(312,800)		138,400		(413,900)	(250,900)
Parent | Reportable Legal Entities
Consolidated Statements of Comprehensive Income
Net income	78,000		(119,700)		129,400	(8,400)
Other comprehensive (loss) income, net of tax:
Net unrealized loss on derivatives, net of tax	(1,700)		(100)		(4,100)	600
Pension adjustments, net of tax	700		700		1,400	1,500
Other comprehensive income (loss), net of tax	(1,000)		600		(2,700)	2,100
Comprehensive income (loss), net of tax	77,000		(119,100)		126,700	(6,300)
Comprehensive income (loss) attributable to AECOM, net of tax	77,000		(119,100)		126,700	(6,300)
Guarantor Subsidiaries | Reportable Legal Entities
Consolidated Statements of Comprehensive Income
Net income	246,000		(14,700)		306,800	187,500
Other comprehensive (loss) income, net of tax:
Pension adjustments, net of tax	(1,200)				(1,200)
Other comprehensive income (loss), net of tax	(1,200)				(1,200)
Comprehensive income (loss), net of tax	244,800		(14,700)		305,600	187,500
Comprehensive income (loss) attributable to AECOM, net of tax	244,800		(14,700)		305,600	187,500
Non-Guarantor Subsidiaries | Reportable Legal Entities
Consolidated Statements of Comprehensive Income
Net income	82,300		(111,700)		136,300	88,500
Other comprehensive (loss) income, net of tax:
Net unrealized loss on derivatives, net of tax	(2,400)		(1,600)		(6,300)	(1,500)
Foreign currency translation adjustments	22,800		15,500		1,000	9,500
Pension adjustments, net of tax	(2,900)		(16,800)		1,700	(15,100)
Other comprehensive income (loss), net of tax	17,500		(2,900)		(3,600)	(7,100)
Comprehensive income (loss), net of tax	99,800		(114,600)		132,700	81,400
Noncontrolling interests in comprehensive income of consolidated subsidiaries, net of tax	(15,800)		(12,600)		(29,400)	(26,500)
Comprehensive income (loss) attributable to AECOM, net of tax	$ 84,000		$ (127,200)		$ 103,300	$ 54,900

Condensed Consolidating Finan_7

Condensed Consolidating Financial Information - Cash Flows (Details) - USD ($) $ in Thousands	6 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Condensed Consolidating Statements of Cash Flows
CASH FLOWS FROM OPERATING ACTIVITIES	$ (92,944)	$ 170,823
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from purchase price adjustment to business acquisition		2,203
Cash acquired from consolidation of joint venture		7,630
Net investment in unconsolidated joint ventures	(63,300)	(55,600)
Net proceeds from sale of investment securities	2,400	200
Payments for capital expenditures, net of disposals	(44,400)	(42,200)
Net cash used in investing activities	(105,343)	(87,800)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from borrowings under credit agreements	4,504,215	5,713,366
Repayments of borrowings under credit agreements	(4,269,095)	(4,836,488)
Cash paid for debt and equity issuance costs	(104)	(10,386)
Redemption of unsecured senior notes		(800,000)
Prepayment premium on redemption of unsecured senior notes		(34,504)
Proceeds from issuance of common stock	14,542	15,570
Proceeds from exercise of stock options		3,194
Payments to repurchase common stock	(82,574)	(27,237)
Net distributions to noncontrolling interests	(36,022)	(24,058)
Other financing activities	7,674	(23,722)
Net cash provided by (used in) financing activities	138,636	(24,265)
EFFECT OF EXCHANGE RATE CHANGES ON CASH	(204)	6,105
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(59,855)	64,863
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	886,733	802,362
CASH AND CASH EQUIVALENTS AT END OF PERIOD	826,878	867,225
Eliminations
CASH FLOWS FROM INVESTING ACTIVITIES:
Net investment in intercompany notes	82,100	674,700
Other intercompany investing activities	194,400	(633,200)
Net cash used in investing activities	276,500	41,500
CASH FLOWS FROM FINANCING ACTIVITIES:
Net borrowings (repayments) on intercompany notes	(82,100)	(674,700)
Other intercompany financing activities	(194,400)	633,200
Net cash provided by (used in) financing activities	(276,500)	(41,500)
Parent | Reportable Legal Entities
Condensed Consolidating Statements of Cash Flows
CASH FLOWS FROM OPERATING ACTIVITIES	(47,100)	(149,600)
CASH FLOWS FROM INVESTING ACTIVITIES:
Net investment in unconsolidated joint ventures	(1,900)	(3,700)
Payments for capital expenditures, net of disposals	(20,500)	(6,700)
Net investment in intercompany notes	(40,800)	(1,700)
Other intercompany investing activities	(131,900)	5,900
Net cash used in investing activities	(195,100)	(6,200)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from borrowings under credit agreements	4,426,400	5,049,000
Repayments of borrowings under credit agreements	(4,167,200)	(4,743,900)
Cash paid for debt and equity issuance costs	(100)
Redemption of unsecured senior notes		(800,000)
Prepayment premium on redemption of unsecured senior notes		(34,500)
Cash paid for debt issuance costs		(10,400)
Proceeds from issuance of common stock	14,500	15,500
Proceeds from exercise of stock options		3,200
Payments to repurchase common stock	(82,600)	(27,200)
Other financing activities	19,400	6,200
Net borrowings (repayments) on intercompany notes	11,400	669,900
Net cash provided by (used in) financing activities	221,800	127,800
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(20,400)	(28,000)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	22,000	32,600
CASH AND CASH EQUIVALENTS AT END OF PERIOD	1,600	4,600
Guarantor Subsidiaries | Reportable Legal Entities
Condensed Consolidating Statements of Cash Flows
CASH FLOWS FROM OPERATING ACTIVITIES	120,300	121,000
CASH FLOWS FROM INVESTING ACTIVITIES:
Net investment in unconsolidated joint ventures	(9,300)	(9,300)
Payments for capital expenditures, net of disposals	(11,300)	(26,600)
Net investment in intercompany notes	(22,000)	(611,100)
Other intercompany investing activities	(62,500)	627,300
Net cash used in investing activities	(105,100)	(19,700)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments of borrowings under credit agreements	(21,200)	(9,500)
Other financing activities	(19,100)	(48,000)
Net borrowings (repayments) on intercompany notes	19,500	(16,700)
Other intercompany financing activities	18,600	(19,700)
Net cash provided by (used in) financing activities	(2,200)	(93,900)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	13,000	7,400
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	270,900	254,900
CASH AND CASH EQUIVALENTS AT END OF PERIOD	283,900	262,300
Non-Guarantor Subsidiaries | Reportable Legal Entities
Condensed Consolidating Statements of Cash Flows
CASH FLOWS FROM OPERATING ACTIVITIES	(166,100)	199,400
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from purchase price adjustment to business acquisition		2,200
Cash acquired from consolidation of joint venture		7,600
Net investment in unconsolidated joint ventures	(52,100)	(42,600)
Net proceeds from sale of investment securities	2,400	200
Payments for capital expenditures, net of disposals	(12,600)	(8,900)
Net investment in intercompany notes	(19,300)	(61,900)
Net cash used in investing activities	(81,600)	(103,400)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from borrowings under credit agreements	77,800	664,400
Repayments of borrowings under credit agreements	(80,700)	(83,100)
Net distributions to noncontrolling interests	(36,000)	(24,100)
Other financing activities	7,400	18,100
Net borrowings (repayments) on intercompany notes	51,200	21,500
Other intercompany financing activities	175,800	(613,500)
Net cash provided by (used in) financing activities	195,500	(16,700)
EFFECT OF EXCHANGE RATE CHANGES ON CASH	(200)	6,100
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(52,400)	85,400
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	593,800	514,900
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$ 541,400	$ 600,300