*The adjusted tax expense differs from the GAAP tax expense based on the deductibility and tax rate applied to each of the adjustments.

FY18 GAAP Net Income Guidance based on Adjusted EBITDA Guidance
			Fiscal Year End 2018
(in millions)
GAAP Net Income Attributable to AECOM Guidance*			$404
Adjusted Net Income Attributable to AECOM Excludes:
Amortization of intangible assets, net of NCI			$90
Financing charges in interest expense			$17
Tax effect of the above items**			($30)
Revaluation of deferred taxes and one-time tax repatriation charges associated with U.S. tax reform			($42)
Adjusted Net Income Attributable to AECOM			$439
Adjusted EBITDA Excludes:
Interest Expense			$210
Interest Income			($4)
Depreciation			$150
Taxes			$113
Adjusted EBITDA Guidance			$910

*Calculated based on the mid-point of AECOM’s fiscal year 2018 EPS guidance.

**The adjusted tax expense differs from the GAAP tax expense based on the deductibility and tax rate applied to each of the adjustments.

Note: the components in this table may not sum to the total due to rounding.

FY18 GAAP Tax Rate Guidance based on Adjusted Tax Rate Guidance
			Fiscal Year End 2018
GAAP Tax Rate Guidance			8%
Tax rate impact from adjustments to GAAP earnings			10%
Tax rate impact from inclusion of NCI deduction			2%
Effective Tax Rate for Adjusted Earnings Guidance			20%

FY18 GAAP Interest Expense Guidance based on Adjusted Interest Expense Guidance
			Fiscal Year End 2018
(in millions)
GAAP Interest Expense Guidance			$227
Financing charge in interest expense			$17
Adjusted Interest Expense Guidance			$210

 

View source version on businesswire.com: http://www.businesswire.com/news/home/20180206005511/en/

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