AECOM 2025年季度报告

Item 1.Financial Statements PART I. FINANCIAL INFORMATIONItem 1. Financial StatementsAECOMConsolidated Balance Sheets(unaudited - in thousands, except share data)ASSETSCURRENT ASSETS:Cash and cash equivalentsCash in consolidated joint venturesTotal cash and cash equivalentsAccounts receivable—netContract assetsPrepaid expenses and other current assetsCurrent assets held for saleIncome taxes receivableTOTAL CURRENT ASSETSPROPERTY AND EQUIPMENT—NETDEFERRED TAX ASSETS—NETINVESTMENTS IN UNCONSOLIDATED JOINT VENTURESINTANGIBLE ASSETS—NETOTHER NON-CURRENT ASSETSOPERATING LEASE RIGHT-OF-USE ASSETSNON - CURRENT ASSETS HELD FOR SALETOTAL ASSETSLIABILITIES AND STOCKHOLDERS’ EQUITYCURRENT LIABILITIES:Short-term debtAccounts payableAccrued expenses and other current liabilities TOTAL LIABILITIESCOMMITMENTS AND CONTINGENCIES (Note 15) 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 March31, 2025 are not necessarily indicative of the results to be expected Cash and cash equivalentsReceivables and contract assets Investment in unconsolidated joint venture Write-down of assets to fair value less cost to sellNon-current assets held for sale Accounts payable and accrued expenses$—$ 8 The following table represents summarized income statement information of discontinued operations (in millions): 202520242025 Cost of revenue51.145.0101.4Gross profit (loss)3.91.5(3.8)Equity in losses of joint ventures(6.0)(3.4)(6.0) Other expense—(0.5)(0.4)Loss before taxes(14.0)(112.2)(27.0) The significant components included in our Consolidated Statement of Cash Flows for the discontinued operations are as follows (in Three Months EndedSix Months EndedMarch 31,March 31,March 31,March 31, Noncash increase in noncurrent assets held for saledue to deconsolidation of a joint venture41.6—41.6Noncash decrease in noncontrolling interest due todeconsolidation of a joint venture$(13.8)$—$(13.8)$ 2024ImpactAcquired2025(in millions)$2,625.7$(9.7)$—$ 9 Amortization expense of acquired intangible assets included within cost of revenue was $1.5million and $9.4million for the sixmonths ended March31, 2025 and 2024, respectively.The following table presents estimated amortization expense of existing intangible assetsfor the remainder of fiscal 2025 and for the succeeding years:(in millions) $ The Company follows accounting principles for recognizing revenue upon the transfer of control of promised goods or services tocustomers, in an amount that reflects the expected consideration received in exchange for those goods or services. The Company generallyrecognizes revenues over time as performance obligations are satisfied. The Company generally measures its progress to completion using aninput measure of total costs incurred divided by total costs expected to be incurred, which it believes to be the best measure of progress towards $4.3billion, respectively.Recognition of revenue and profit is dependent upon a number of factors, including the accuracy of a variety of estimates made at thebalance sheet date, such as engineering progress, material quantities, the achievement of milestones, penalty provisions, labor productivity andcost estimates. Additionally, the Company is required to make estimates for the amount of consideration to be received, including bonuses, Disaggregated RevenueThe following tables present the Company’s revenues disaggregated by revenue sources: $1,938.4$Contract retentions665.6Total accounts receivable—gross2,604.0 projections of credit losses based on historical trends, and collection history and credit quality of its clients. Negative macroeconomic trends ordelays in payment of outstanding receivables could result in an increase in the estimated credit losses. The Company sold trade receivables to financial institutions, of which $340.5million and $319.5million were outstanding as ofMarch31, 2025 and September30, 2024, respectively. The Company does not retain financial or legal obligations for these receivables thatwould result in material losses. The Company’s ongoing involvement is limited to the remittance of customer payments to the financial Company’s result of operations. For certain of these joint ventures where a fee is added by an unconsolidated joint venture to client billings, theCompany’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 generallymakes a capital contribution. The Company accounts for these joint ventures either as consolidated entities or equity method investments basedon the criteria further discussed below. The Company follows guidance on the consolidation of variable interest entities (VIEs) that requires companies to utilize a qualitativeapproach to determine whether it is the primary beneficiary of a VIE. The process for identifying the