AECOM reports first quarter fiscal year 2017 results

^{*When there is a net loss, basic and dilutive GAAP EPS calculations use the same share count to avoid any antidilutive effect; however, the adjusted EPS includes the dilutive shares excluded in the GAAP EPS.}

AECOM

Regulation G Information

($ in millions)


Reconciliation of Amounts Provided by Acquired Companies

	Three Months Ended Dec 31, 2016
	Total		Provided by Acquired Companies		Excluding Effect of Acquired Companies

Revenue:
AECOM Consolidated	$	4,358.3	$	50.8	$	4,307.5
Design & Consulting Services		1,840.8		-		1,840.8
Construction Services		1,750.2		50.8		1,699.4
Management Services		767.3		-		767.3


Reconciliation of Net Income Attributable to AECOM to EBITDA

	Three months ended
	Dec 31, 2015			Sep 30, 2016			Dec 31, 2016
Net (loss) income attributable to AECOM	$	(20.4	)	$	7.2		$	47.2
Income tax (benefit) expense		(0.7	)		(14.3	)		24.8
(Loss) income attributable to AECOM before income taxes		(21.1	)		(7.1	)		72.0
Depreciation and amortization expense¹		114.3			92.1			66.5
Interest income²		(1.0	)		(1.3	)		(0.7	)
Interest expense³		55.1			55.4			50.4
EBITDA	$	147.3		$	139.1		$	188.2
^{1 Includes the amount for noncontrolling interests in consolidated subsidiaries 2 Included in other income 3 Excludes related amortization}


Reconciliation of Total Debt to Net Debt

	Balances at
	Dec 31, 2015		Sep 30, 2016		Dec 31, 2016
Short-term debt	$	3.2	$	26.3	$	14.8
Current portion of long-term debt		153.3		340.0		343.9
Long-term debt excluding unamortized debt issuance costs		4,366.4		3,759.0		3,805.3
Total debt excluding unamortized debt issuance costs		4,522.9		4,125.3		4,164.0
Less: Total cash and cash equivalents		658.0		692.1		697.7
Net Debt	$	3,864.9	$	3,433.2	$	3,466.3


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

	Three Months Ended
	Dec 31, 2015		Sep 30, 2016		Dec 31, 2016
Net cash provided by operating activities	$	78.0	$	362.9	$	77.5
Capital expenditures, net		(0.8)		(36.9)		(21.0)
Free Cash Flow	$	77.2	$	326.0	$	56.5


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

Reconciliation of Reported Amounts to Adjusted Amounts Excluding Acquisition and Integration Related Expenses, Financing Charges in Interest Expense, the Amortization of Intangible Assets and the Financial Impacts Associated with Dispositions of Non-core Businesses and Assets

	Three Months Ended
	Dec 31, 2015			Sep 30, 2016			Dec 31, 2016

EBITDA ⁽¹⁾	$	147.3		$	139.1		$	188.2
Non-core operating losses		7.1			9.9			2.0
Acquisition and integration expenses		41.0			71.2			15.4
Loss on disposal activities		41.1			-			-
Depreciation expense included in acquisition and integration expense line above		(5.9	)		(9.0	)		(0.3	)
Adjusted EBITDA	$	230.6		$	211.2		$	205.3
Other expense		(3.0	)		(2.9	)		(0.8	)
Interest income ⁽²⁾		1.0			1.3			0.7
Depreciation ⁽³⁾		(35.6	)		(30.7	)		(38.0	)
Noncontrolling interests in income of consolidated subsidiaries, net of tax		20.0			5.7			18.6
Amortization of intangible assets included in NCI, net of tax		6.5			2.2			2.4
Adjusted income from operations	$	219.5		$	186.8		$	188.2
⁽¹⁾ ^{See Reconciliation of Net Income Attributable to AECOM to EBITDA.} ⁽²⁾ ^{Included in other income.} ⁽³⁾ ^{Excluding acquisition and integration related expenses.}


Segment Income from Operations ^‡
Design & Consulting Services Segment:
Income from operations	$	82.3		$	85.7		$	99.3
Non-core operating losses		1.9			9.9			2.0
Amortization of intangible assets		36.9			6.9			7.0
Adjusted income from operations	$	121.1		$	102.5		$	108.3

Construction Services Segment:
(Loss) income from operations	$	(26.9	)	$	11.7		$	18.1
Non-core operating losses		5.2			-			-
Loss on disposal activities		41.0			-			-
Amortization of intangible assets		10.9			10.0			7.3
Adjusted income from operations	$	30.2		$	21.7		$	25.4

Management Services Segment:
Income from operations	$	69.7		$	71.1		$	74.0
Amortization of intangible assets		27.1			19.7			13.1
Adjusted income from operations	$	96.8		$	90.8		$	87.1

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