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1、Delivering Today and More Tomorrow2022 Annual ReportLower Manhattan Coastal Resiliency ProgramUnited StatesAECOM is leading the multi-disciplinary coastal protection initiative that spans landscape architecture,planning policy,urban design,architecture and engineering.The 3.5-mile-long project aims
2、to improve access to the waterfront and increase community green space for health and leisure activities.We believe infrastructure creates opportunity for everyone uplifting communities,improving access and sustaining our planet.By bringing together the best people,ideas and technical expertise,we p
3、artner with clients to turn their ambitions into action,and we embrace our core valuesDeliver,Collaborate,Innovate,Sustain,Thrive and Safeguardin everything we do.Our VisionOur PurposeDelivering a Better World 1AECOM2022 Annual ReportOur ValuesWe grow our business through relentless client focus,ope
4、rational excellence and exceptional project execution.DeliverCollaborateInnovateWe connect unrivaled expertise from around the world to anticipate and solve our clients most pressing challenges.We think without limits and embrace new ideas,shaping digital solutions to help clients address current an
5、d future challenges.SustainThriveSafeguardWe take action to make a positive impact on the planet,enrich the communities we touch and build legacies for future generations.We build diverse teams,create an inclusive workplace and provide opportunities where each one of our people can reach their full
6、potential.We operate ethically and with integrity,while prioritizing safety and security in all that we do.AECOM2022 Annual ReportLetter from the CEO.3Strength and Recognition.4Accolades.5Work Highlights.6Our Think and Act Globally Strategy.8Investing in Our People.10Transforming How We Work.16Exten
7、ding Client Relationships.20Leading in ESG.24Corporate Governance.28ContentsFiscal 2022 was a transformational year for AECOM.Our success is a reflection of the strength of our employees,and I want to thank them for their unwavering dedication to our clients and to our purpose of delivering a better
8、 world.As ever,our teams remain our greatest asset.Their ingenuity,technical excellence and agility continue to differentiate us as the leader in our industry.I am extremely proud of where our organization stands today.Our consistently strong performance is expanding our competitive advantage and th
9、e long-term earnings power of the business to deliver growth into the future.With our teams collaborating and innovating more than ever before,we achieved numerous milestones throughout the year,including the following highlights:Our financial results extended our track record of delivering on all o
10、ur targets for the year.We also produced another year of industry-leading margins and cash flow,while investing in our growth and our professionals.We delivered record wins in the design business and,with a near record backlog,we are positioned for continued growth.Through the implementation of our
11、strategy,we are prioritizing our time and capital on the highest returning opportunities,winning what matters,and expanding our addressable market.We are seeing the success of this strategy through several marquee wins,including our appointment as program manager for the California High-Speed Rail a
12、nd our multi-year NAVFAC Atlantic contract by the U.S.Navy.As a result of our strong performance,we are able to invest in our employees through our enhanced 2023 U.S.healthcare and well-being benefits that will set a new standard in the industry and reduce the financial burden on our professionals.I
13、n addition,we are driving global collaboration via our Technical Practice Network to createand deliverthe best solutions for our clients challenges,and are strengthening our professional development programs to further foster talent and build strong careers.We furthered our commitment to expanding t
14、he breadth and impact of our Digital AECOM capabilities,a key element of our strategy.These efforts include launching our PlanEngage product on Microsofts Azure marketplace,releasing PlanSpend Fund Navigator to help our U.S.clients meet rigorous Infrastructure Investment and Jobs Act(IIJA)grant requ
15、irements,and accelerating water inspections and enhancing defect detection through our PipeInsights product.In partnership with our collaborative delivery centers that provide access to our global talent pool,our investment in digital is changing how our professionals engage with clients and creatin
16、g new ways of delivering and solving the worlds most challenging problems.We also extended our leadership position in ESG through our Sustainable Legacies strategy,including launching our ESG Advisory practice built around addressing our clients climate,sustainability and resilience priorities.We be
17、came one of the first companies globally to set new and more rigorous net zero targets approved by the Science-Based Targets initiative,and implemented our new global Social Value policy and annually-required ESG training program.I am proud of all we accomplished in fiscal 2022,and am confident in t
18、he strength of our business going forward.We are committed to the success of our professionals,of our clients,and of the communities we serve,and to delivering strong shareholder value.As such,we continued to deliver on our returns-focused capital allocation policy during the year.This included retu
19、rning nearly$500 million of capital to our shareholders through share repurchases and dividends.In addition,we recently announced a 20%increase to our quarterly dividend program,and we remain committed to increasing our per share dividend on a double-digit basis annually.As we look ahead,we are well
20、-positioned to capitalize on three secular growth drivers that will reshape the future of infrastructure over the coming decades.These include the global infrastructure renaissance,continued investments in sustainability and resilience initiatives,and supply chain and resource adaptation to a post-C
21、OVID normal.We are ranked number one by ENR in many of these markets,including transportation design,facilities design,green design,environmental engineering,and we hold several leadership positions in the water sector.This is a very exciting time to be at AECOM.We thank you for your continued suppo
22、rt and look forward to a bright year ahead.Troy Rudd,Chief Executive OfficerTroy RuddChief Executive OfficerDear Stockholders:“We delivered another year of strong performance,furthered our competitive advantages and won transformational projects that expand the earnings potential of the business,all
23、 while investing in our employees more than ever before.”3AECOM2022 Annual ReportStrength and RecognitionOur fiscal 2022 results were an extension of our track record of delivering on all financial targets.In the fourth quarter,9%organic net service revenue1 growth in the design business was the hig
24、hest quarterly growth rate in more than a decade,while our design backlog increased by 8%2,reflecting a record win rate,full-year wins and pipeline of opportunities.By winning what matters,we are creating a more valuable backlog position.Our success in the market is transforming the trajectory and l
25、ong-term earnings power of our business.The actions we have taken to deliver on our strategy,to expand our addressable market,to prioritize our resources to the highest returning growth opportunities,and to invest in digital capabilities and our people have allowed us to perform despite several mark
26、et headwinds,and created a sustained long-term advantage going into 2023.Fiscal 2022 Financial Performance Performance Highlights+40bps13.8%14.2%Exceeded Our Full Year GuidanceFY 21FY 21FY 21FY 22FY 22FY 22Record Segment Adjusted3 Operating Margin4+26%$2.82$3.47Adjusting for Foreign Exchange Impact
27、to FY22 resultsAdjusted3 EPS$830M$900M+10%Adjusting for Foreign Exchange Impact to FY22 resultsDouble-Digit Adjusted3 EBITDA54+8%2Total Design Backlog A near record,representing 90%of our profitability+9%Q422 Organic Design NSR1 GrowthHighest in more than a decade+18%Double-Digit Bids Summited and P
28、roposalsFrom the prior yearFortune Worlds Most Admired CompaniesNamed to Fortune magazines“Worlds Most Admired Companies”eight years in a row,and No.1 in our industry Ethisphere Worlds Most Ethical CompaniesNamed by Ethisphere one of 2022 Worlds Most Ethical Companies for its commitment to integrity
29、 and making a positive impact Human Rights Campaign Foundation100%rating on Corporate Equality Index and designated a Best Place to Work for LGBTQ+Equality for a fifth yearWe were recognized for multiple industry leadership awards that reflect our continued commitment to excellence.A leader in helpi
30、ng our clients deliver their most challenging projects#1#2#3#5#6Transportation Design FirmFacilities Design FirmEnvironmental Engineering FirmEnvironmental Science FirmGreen Design Firm AirportsHighwaysDams and ReservoirsEducationEnvironmental Firm Water SupplyWater Treatment Lines and AqueductsWast
31、ewater Treatment PlantsHazardous WasteChemical RemediationMass TransitBridgesWater Design FirmMarine and PortsSewer and WasteWater Treatment and DesalinationHealthcareWind PowerClean Air ComplianceSite Assessment and Compliance Program ManagementGreen ContractorAccolades5AECOM2022 Annual Report54378
32、2196Work Highlights1.California High-Speed RailAECOM is providing program management support for the nations first dedicated high-speed rail system that will provide frequent train service exceeding 200 miles per hour,and that is poised to become one of the most transformative infrastructure investm
33、ents in U.S.history.2.East County Advanced Water Purification ProgramUsing state-of-the-art technology to purify East Countys recycled water,AECOM is providing services to create a new,local,sustainable,drought-proof drinking water supply.3.Faro Mine Remediation ProgramAECOM is delivering environmen
34、tal remediation services for one of the most complex abandoned mine clean-up projects in Canada.4.North Shore WaterAECOM is deepening client relationships to complete the design of the LEED Gold-certified treatment facility that will serve approximately 250,000 residents in the Vancouver area.5.Onta
35、rio Line SouthServing on the Ontario Transit Group team,AECOM is providing design services to form part of the 15.6-kilometer,15-stop Ontario Line rapid transit line intended to create faster,easier connections between dozens of Toronto neighborhoods.6.JFK International Airport Terminal 1AECOM is he
36、lping transform JFK International Airport into a world-class airport by providing design services on one of its largest international terminals.7.Natural Capital LaboratoryAECOM is conducting a five-year living experiment that will document the rewilding of the 100-acre sites natural environment and
37、 reintroduce extinct species in the Scottish Highlands.8.Net Zero Teesside PowerAECOM is helping make a net zero future possible for the industrial northeast of England through our involvement in this first-of-a-kind fully integrated gas-fired power and carbon capture projecta key driving force behi
38、nd plans to make Teesside the UKs first decarbonized industrial cluster.9.AIUIa ProgramsAECOMs program management team is implementing Phase 1 of the$15-billion masterplan development that will accelerate regeneration in AIUIas core 20-kilometer historical area.10.King Khalid International AirportAE
39、COM is providing services to redevelop and expand the architecturally complex,40-year-old airport to meet a future annual capacity of 30 million passengers.11.Northern MetropolisThe Northern Metropolis is a landmark megaproject that will transform the northern part of Hong Kong into a thriving metro
40、politan area of 2.5 million people.Were proud to deliver planning and engineering,urban and landscape design,civil infrastructure works and construction activities across all phases of the project.12.Melbourne Airport RailAECOM is helping deliver a new 30-minute rail connection between central Melbo
41、urne and Melbourne Airport that will greatly enhance connectivity in and beyond Victoria,Australia.1011 126510273849161171210AECOM2022 Annual Report7Our Think and Act Globally StrategyWe are at our best when we think and act globally.Launched in 2020,our strategy integrates four key pillars focused
42、on developing our people and teams expertise and impact on each of our projects around the world,deepening our client relationships,transforming the way we deliver our work globally through technology and digital platforms,and enhancing our position as a leading Environmental,Social&Governance(ESG)c
43、ompany.The advancement of this strategy has set us up for continued growth,while setting new standards for excellence in our industry.89AECOM2022 Annual ReportWe are making AECOM the best place to be in our industry a place where you are welcomed,trusted and empowered to solve our clients most compl
44、ex challenges.We are driving growth in our core and emerging markets by leveraging our global talent and unrivaled technical expertise to nurture long-term client relationships.We are using technology to design more flexible ways of working,and to further enable digital project delivery that improve
45、s the client experience and increases efficiency.We are leading the change toward a more sustainable and equitable future through our own operational commitments,and by helping our clients.Investing in Our PeopleInvesting in Our PeopleExtending Client RelationshipsTransforming How We WorkLeading in
46、ESGExtending Client RelationshipsTransforming How We WorkLeading in ESGInvesting in Our People10We are attracting top talent and inspiring our people through a culture of collaboration and opportunity.This includes investing in our people and programs that enrich our employees experience and success
47、.Throughout the year we enhanced our culture of equity,diversity and inclusion,while advancing our flexible work program,employee healthcare benefits,and personal and professional development programs.11AECOM2022 Annual ReportWe are continuing to make AECOM the best place to be for the most talented
48、 in our industry.Our approximately 50,000 employees are trusted and empowered to reach their full potential.Our Freedom to Grow framework empowers employees with the work-life flexibility they need to focus on their team,deliver for their clients and prioritize what matters most.Significant investme
49、nts in U.S.healthcare benefits Building a culture of flexibility,trust and performance through Freedom to GrowWe proudly took a lead position in our industry with our comprehensive healthcare benefits and well-being programs in the U.S.by making a significant investment in our healthcare benefits fo
50、r our people.We prioritized bringing down costs for those who need it most and cut our employees monthly premiums by up to 80%depending on the choice of plan.Even with U.S.healthcare costs continuing to rise significantly,our employees premiums were reduced across all medical plansmeaning more money
51、 in their wallets to make the best choices for themselves and their families.Freedom to Grow is our work-life balance framework designed to support the flexibility our people need to thrive and deliver their best for their team and clients.Employees and managers work together to evaluate work schedu
52、les and locations to align on a flexible work arrangement that includes three days a week in an AECOM office or client siteone which prioritizes client and team responsibilities while supporting individual needs.We further expanded this framework to include our new Flexible Time Off policy for eligi
53、ble employees in the U.S.and Canada.We eliminated time off limitations and are ensuring our people have the flexibility and opportunity to take time off to support their needs and well-being throughout the year.Unlike any firm in our industry,flexibility at AECOM goes far beyond just when and where
54、we work.We consider our holistic experience,respecting diversity in work,communication and thinking styles,and what makes each of our employees unique.Our ability to deliver excellence and a high level of service to our clients requires attracting and retaining the industrys best,diverse talent.Weve
55、 made significant investments to support the learning and development of our people so they can build their skills and rewarding careers with us,provide competitive pay and benefits so they can make the best choices for themselves and their families,and are building a culture of flexibility,trust an
56、d performance so they can be at their best.Freedom to GrowAdvancements in Equity,Diversity and InclusionWe are committed to advancing equity,diversity and inclusion(ED&I)in our organization and within our industry.Creating a respectful,inclusive culture requires us to be open-minded and accepting of
57、 various points of viewdiversity of thought and ideas is what ultimately contributes to better outcomes for our clients and the communities we serve.In 2022,we introduced global training for hiring managers designed to build more diverse teams through talent acquisition,and to hold leaders accountab
58、le to help foster our inclusive culture.The training enables our hiring managers to apply inclusive practices in sourcing and interviewing candidates,and in making hiring decisions.We also measured against our established targets within each of our regions to advance our ED&I goals.Across our compan
59、y,we improved the diversity of our workforce with women comprising more than 19%of our leaders,which puts us closer to achieving our near-term target of 20%.In Europe and India,we received our first ED&I accreditation with the Clear Company,a recognized Inclusion Standard that provides clarity and d
60、irection to continually improve our inclusive and fair work practices.AECOM also sponsored the ESG Launchpad,a program run by The Land Collective,a social enterprise that aims to connect young people from diverse backgrounds with the built environment sector.In Australia,we launched our Innovate Rec
61、onciliation Action Plana framework of commitments to develop and strengthen relationships with Aboriginal and Torres Strait Islander peoples,and to increase First Nations participation,collaboration and inclusion in our business.In New Zealand,senior leaders graduated from the Maurea Consulting Te K
62、aa Program to build knowledge,appreciation forand practice of Mori culture to help expand understanding and inclusivity.Employee Resource GroupsEmployee resource groups(ERGs)help strengthen the connections between us and the communities we serve.They provide rich opportunities for the exchange of id
63、eas and powerful dialogue,professional networking and development,talent attraction and philanthropic impact.Our Americas ERG program was recognized with a Business Achievement Award from the Environmental Business Journal.The award acknowledged the ERG program for creating a sense of belonging and
64、generating an inclusive environment at AECOM in support of our ED&I pledge:When we feel free to be ourselves,we thrive.BeBOLD,our Americas ERG for Black employees and allies,continued its sponsorship of CityLab,a Dallas high school for underrepresented communities that introduces students to archite
65、cture,urban planning and environmental sustainability.Our Ethnic Diversity Network ERG received a“highly commended”recognition for Outstanding Employee Resource Group in the European Diversity Awards,which recognize individuals and organizations whose outstanding leadership has made a genuine differ
66、ence to the equality,diversity and inclusion agenda.Fostering a Welcoming and Respectful EnvironmentWe are advancing efforts globally in four key areas:Building Diverse TalentEnsuring,through our recruitment efforts,that our teams reflect the diversity of the communities we serve,building leadership
67、 accountability,and partnering with nonprofit organizations and universities to build the talent pipeline for the future.Enriching CommunitiesEnriching communities through pro-bono work,volunteerism,philanthropy and strategic partnerships.Expanding UnderstandingExpanding understanding and empathy am
68、ong employees through employee resource groups,ED&I events and celebrations,unconscious bias training,and family-friendly benefit policies.Thinking Without LimitsThinking without limits by prioritizing social equity and impact in every project we pursue and in every innovative solution we deliver.12
69、Purpose and ImpactAs the worlds trusted infrastructure consulting firm and a leader in ESG,we are determined and well positioned to deliver positive,impactful and Sustainable Legacies for our company,our communities and our planet.Blueprint for a Better World,our corporate responsibility platform,is
70、 focused on delivering access to safe and secure infrastructure to those who need it most via strategic nonprofit partnerships,pro-bono work,skills-based volunteering and philanthropy.We are creating opportunity for the leaders of tomorrow,and protecting our planet so our company can fulfill its pur
71、pose to deliver a better world.As part of the Blueprint pro-bono program,our technical experts partnered with nonprofit organizations in their local communities to provide critical design,engineering and infrastructure solutions.In addition,we have maintained our commitment to our enterprise strateg
72、ic nonprofit partners Engineers Without Borders and Water for People.Demonstrating our commitment to a better world,our teams in Romania,Poland and surrounding areas immediately responded following Russias unlawful invasion of Ukraine.They made meaningful impact through local aid and relief activiti
73、es,including volunteering at border reception stations,collecting goods,helping with translation and hosting families.Inspired by our people,we also launched a global employee match campaign that donated$200,000 in support for dedicated Ukraine relief funds of the American National Red Cross and Sav
74、e the Children Foundation.Veterans Alliance“Many veterans from across the globe are excited about the prospects of joining a new team but can find it challenging to transition to the commercial side after serving in the military.Veterans Alliance provides a forum to assist,engage and inform our vete
75、ran community and connect with those who would like to help and learn more.We want to be inclusive and share a safe space for vets to express their challenges and desires and help everyone grow and make AECOM a great place to thrive.”Anthony C.Funkhouser VP,Army Client Account Director President,Vet
76、erans AllianceEthnic Diversity Network“I remain dedicated to creating a safe space for ethnically diverse colleagues to come together and collaborate to drive tangible change.In under two years the group has grown to a network of over 400 members who are all passionate about championing ED&I.We cant
77、 do this alone and it takes all of us to make a change.I couldnt be prouder!”Robert Hewitt Principal Landscape Architect Chair,Ethnic Diversity NetworkWomens Leadership Alliance“The programming that the Womens Leadership Alliance and its committees have put forward this past year have encouraged gre
78、ater networking,provided information and resources,helped build confidence and skills,and fostered a diverse forum for engagement both within the membership and beyond.We want to continue to learn as we grow so that we can meet our members where they are and help to make AECOM a great place to work.
79、”Wendy LauRisk Management Sr.Manager,US WestPresident,Womens Leadership AllianceBeBold:Americas Black CommunityMOSAIC:Americas Asian Pacific Islander CommunityEthnic Diversity Network:Europe and India Community for Ethnic MinoritiesPride:Americas,Europe,Australia and New Zealand LGBTQ+CommunityGende
80、r Alliance:Europe and India Community for Gender EmpowermentVeterans Alliance:Americas Veterans CommunityJUNTOS:Americas Hispanic/Latinx CommunityWomens Leadership Alliance:Americas Community for Gender Equality13AECOM2022 Annual ReportOur people are supported with resources to build connections thr
81、oughout our organization and explore the opportunities that inspire them whether that be a new Career Path framework and philosophy that help guide informed decisions about career progression within AECOM,enhanced Global Business Line Technical Academies that provide high-quality,structured technica
82、l learning,or other professional development programs that suit specific needs at each career level.Expanded Career Paths Framework and PhilosophyTo help navigate the virtually limitless opportunities at AECOM,we introduced a new career progression framework with four broad career paths.Employees ar
83、e encouraged and empowered to develop their core skillset and capabilities and then explore different areas of our business to broaden their experience and perspectives.Building Meaningful and Rewarding CareersStrengthened Technical Skill Building and Professional Development Programs To help our pe
84、ople continue to develop their technical expertise,we built upon the success of our Water Academy which celebrated its tenth anniversary in 2022 to launch six new Global Business Line Technical Academies.Technical ExcellenceDeliver our core design and consulting services;career advancement could inc
85、lude practice leadership,or an AECOM Fellowship,which recognizes thought leaders in our industry who make significant contributions to our company,clients,and communities.Growth and Client ManagementWork closely with clients,building strong relationships and developing new business opportunities as
86、part of our growth strategy.Project and Program ManagementWork closely with clients on planning,executing and overseeing activities across the project lifecycle or on large-scale and complex portfolio of projects.Business Area Leadership Leading our business and workforce overseeing a geographic are
87、a,business line,or function.Sustainable Legacies Academy14Buildings+Places AcademyEnvironment AcademyProgram Management AcademyTransportation AcademyWater AcademyWith course content developed by AECOMs own subject matter experts,these academies provide employees with high-quality,structured learning
88、 and development opportunities that build knowledge and networks,extend technical skills and foster a culture of technical excellence and quality.Fostered Leadership at all LevelsLeadership at All Levels is our full range of professional development programs,delivered at the regional and global leve
89、l,designed to cultivate innovative thinkers,supportive managers,and effective leaders.The programs develop the skills our employees needtailored to each career levelto have leadership skills and capabilities no matter where they are in their career journey.These development programs complement our g
90、lobal Technical Practice Network,which connects our people and capabilities across regions and business lines and is a thriving community of 81 Technical Practice Groups,Tool Channels and other Functional Groups that provide insights,resources,technical standards,and support.Throughout 2022,we comme
91、nced a process to better align our Technical Practice Groups with areas of business growth,and launched consolidated,digital-focused groups supporting Building Information Modeling,and GIS.Nearly 20,000 of our people across all business lines and regions have joined at least one Technical Practice G
92、roup,complementing additional self-directed,personalized learning available via LinkedIn Learning,Autodesk and Bentley through AECOM University,and our global Business Line Technical Academies.Aligned our Technical Practice Network for the future15AECOM2022 Annual ReportTransforming How We Work16We
93、are collaborating more than ever before to capture the full power of our industry-leading capabilities,while expanding our addressable market in program management and advisory services to complement our technical expertise,and investing in digital and cutting-edge solutions to enhance the way we de
94、liver work for our clients.These initiatives are allowing us to advance our clients most challenging infrastructure and ESG-related initiatives.At the heart of AECOMs evolution is digital transformation.Progressive hybrid working approaches powered by investments in enabling technology,the adoption
95、of new digital tools and processes,and the ongoing creation of a culture where good ideas can be developed and implemented are driving new and more efficient ways of working breaking down geographic and organizational boundaries and creating a competitive advantage.Digital AECOM brings together our
96、global digital-focused consulting services,hosted services products,and digital tools that enhance the delivery of core engineering and design services to help clients accelerate their digital journeys and achieve better project outcomes.As a key enabler of our Sustainable Legacies ESG strategy,we l
97、everage the strengths of more than 2,500 integrated digital practitioners and data scientists globally with proven capability to connect data,projects,and communities to help us deliver a better world.PipeInsightsPowering the delivery of superior rehabilitation and maintenance outcomes for sewer sys
98、tems,the digital PipeInsights platform augments conventional CCTV inspections using advanced machine learning algorithms to provide automated defect detection and recommend optimal maintenance decisions.By seamlessly integrating footage and results into a simple geographic information system(GIS)int
99、erface,users can manage multiple sewer programs simultaneously while enhancing the understanding of overall sewer system health.To date,PipeInsights has been used on real-world inspections and captured images of hundreds of thousands of defects as it continues to learn.The platform enables secure ac
100、cess to inspections from any mobile device,allowing users to visualize and share the health of their systems from the office or the field.17AECOM2022 Annual ReportWe are improving the planning stakeholder engagement process,and driving better and more cost-effective project decisions,through our dig
101、ital PlanEngage platform.Enabling teams to create,edit,and publish highly visual and interactive communications for projects including videos,360-degree project progress images,visualizations,project dashboards,and more PlanEngage has inbuilt feedback capture and reporting,supporting communication c
102、onsistency,enhanced collaboration,regulatory compliance,improved accessibility and social license.AECOM utilized PlanEngage to create an interactive Final Tier 1 Environmental Impact Statement(EIS)for the Federal Highway Administration(FHWA)and Arizona Department of Transportations(ADOT)Interstate 1
103、1 Corridor project,facilitating an alternative method for virtual public involvement and helping achieve an important milestone for the proposed corridor.Infrastructure owners can now access this interactive solution through the trusted Azure cloud platform with streamlined deployment and management
104、.Combining artificial intelligence,geospatial analytics,capital planning and stakeholder management in a multi-stage digital solution,(PlanSpend)Fund Navigator is helping our U.S.clients meet rigorous Infrastructure Investment and Jobs Act(IIJA)grant requirements,allowing them to thoroughly conceptu
105、alize their grant and program management,capital planning,electrification assessment modeling,and compliance reporting and prepare for the next generation of infrastructure challenges and opportunities.Wisconsins first PFAS filtration facility From firefighting foam to food wrappers,per-and polyfluo
106、roalkyl substances(PFAS)are everywhereand can pose serious health risks.Increasingly,they end up where they dont belong:in our drinking water.Were leveraging our world-class PFAS remediation expertise to help tackle this environmental crisis through an array of services.In the case of Madison,Wiscon
107、sin,were delivering what will become a major milestone in the states fight against these“forever chemicals.”A regional urban center and state capital,Madison recently identified two municipal wells harboring dangerously high levels of PFAS.Our team is working with the city to renovate its filtration
108、 facilities and bring these wells back online.Were leveraging our digital and capital planning experience,tailoring the final design to rigorous Infrastructure Investment and Jobs Act(IIJA)and Wisconsin Safe Drinking Water Loan Program funding requirements.Upon completion,that design will become Wis
109、consins first municipal PFAS treatment facilitya critical step in addressing contamination throughout the state and region.18An Innovative Approach to Waste ManagementTo best support one of the largest state transportation authorities in the United States with an ambitious net zero mandate,in April
110、2022,we launched a solution to help reduce construction and demolition waste through the matching of requestors and suppliers via an intuitive digital interface.This proprietary digital solution supports the circular economy and improves re-useability and sustainability,reducing both the costs of ma
111、terials procurement and carbon emissions.DE-FLUOROOur multi-year,global collaboration and investment to develop and commercialize on-site PFAS destruction technology DE-FLUORO continues to garner interest from clients and industry.As the impacts of PFAS“forever chemicals”are better understood,and th
112、e race to remediate PFAS contamination accelerates around the world,we continue to evaluate sites and partner with our clients to investigate and understand the scale of their PFAS challenges.In the U.S.,we are undertaking both full-scale on-site DE-FLUORO demonstration and pilot programs on behalf
113、of Federal and industry clients,including evaluation studies in the Industrial and Water sectors.In Australia,meanwhile,DE-FLUORO has commenced commercial programs in both the Defense and Oil&Gas sectors,alongside efforts to develop and enhance the technology to open up further opportunities across
114、the Water,Industrial and Aviation sectors.Ahead of U.S.legislative changes that may increase usage of non-incineration technologies such as DE-FLUORO,we will commission the manufacture of additional and enhanced DE-FLUORO systems to commence commercial programs in the United States.In fiscal 2022,we
115、 made significant progress in breaking down organizational silos and solving operational challenges,making us even more agile and competitive in the market.We brought together our global expertise to align with project demand,addressing acute talent and skill shortages by helping project managers an
116、d leaders access available talent across our regions and within Enterprise Capabilities(EC).Fundamental to our Think and Act Globally strategy and digital adoption,EC is AECOMs primary vehicle for work sharing.Operating across geographic boundaries and time zones,EC partners with regional and Global
117、 Business Line project teams to provide technical expertise,accelerate delivery and keep AECOM competitive in the industry.With offices in seven countries,and a team of over 2,000 technical professionals,EC delivers high-quality specialist services that help fill capability gaps,resourcing needs and
118、 technical constraints on projects of all scopes.Harnessing digital tools that enable remote collaboration,EC has extended its service offerings to support regional project teams in more complex engagements and to supplement project staffwhere and when its needed the most.From monumental programs su
119、ch as NEOM in the Middle East to critical transportation infrastructure in the UK,EC teamed with regional project teams to add value to project delivery during every stage of the project lifecycle.EC also established the Rail Systems Capability Center to better support the delivery of global transit
120、 projects,and the Digital Adoption Hub(DAH),a cross-regional team helping to strengthen our core engineering and design offering through the adoption of global digital solutions.With a team of over 100 multidisciplinary professionals working from most of AECOMs regions,the DAH is driving the adoptio
121、n of global digital solutions in our core design and engineering business to improve quality,and automate and streamline workflows and data-driven decision making.Advancing Our Approach to Work Sharing 19AECOM2022 Annual ReportExtending Client RelationshipsWe are collaborating more than ever before.
122、Through prioritizing strategic opportunities and leveraging our advisory and program management business,we are winning what matters and nurturing long-term client relationships across our core and emerging markets.20By bringing together our best talent,leveraging our greatest strengths and resource
123、s,and prioritizing technical excellence,we are providing value that is unmatched and that is extending our largest client relationships.In fiscal 2022,we made tremendous progress in strengthening key relationships while continuing to deliver world-class technical and advisory services.Reflecting the
124、 deep value we bring to clients and an increasing focus on collaborating globally on our highest returning growth opportunities,we were successful on all ten of our critical,“must win”pursuits identified at the start of the year.In addition,our net promoter scores continue to set new records and com
125、fortably exceed established benchmarks for professional services organizations.21AECOM2022 Annual ReportNetwork Rail,UKOur appointment to support Network Rails operations in the UK through its Commercial Services framework continues AECOMs long-standing relationship with the region as we deliver tec
126、hnical,innovative and sustainable solutions to benefit both Network Rail and passengers.AECOMs Commercial Services Framework is supporting the North West and Central region of the UKs rail network,the backbone of Britain and economic spine linking some of the countrys main cities.Through this framew
127、ork,AECOM is supporting Network Rail to connect workers with jobs,people with loved ones and goods to market,adding social value and economic opportunities to the regions.We are also responsible for advising on more than 20,000 miles of track and 2,500 stations as part of Network Rails strategy for
128、achieving science-based net zero by 2050.With its work on Northern Powerhouse Rail,High Speed 2 and the Transpennine Route Upgrade,this project adds to the extensive footprint AECOM has across the region.NAVFAC AtlanticExpanding our long track record with the U.S.Navy,AECOM is leading a joint ventur
129、e with EnSafe to deliver architecture and engineering services for the Naval Facilities Engineering Systems Command(NAVFAC).The joint venture is performing environmental studies,investigations,and designs that address pressing environmental challenges on its Comprehensive Long-Term Environmental Act
130、ion Navy(CLEAN)program.This multi-year contract now provides us with the greatest value exposure to this clients environmental programs.As part of the U.S.Navys critical work,we are providing compliance with restoration programs and regulations to help address key environmental challenges.Our world-
131、class specialists consistently deliver high-quality,cost-effective environmental services that drive innovation,deliver vital programs and help achieve our clients goals.22AECOM provides consistent,high expertise in environmental investigations with a large resource base of environmental professiona
132、ls.”Baltimore Corps of Engineers I would recommend AECOM because of their global and broad range of services delivered professionally and proactively,often in complex circumstances.”Shell plcAECOMs thought process into programs and projects makes it one of the industrys leading consultancies.”Heathr
133、ow Airport Ltd.23AECOM2022 Annual ReportCalifornia High-Speed Rail Today,transport between Californias megaregions is both time and carbon intensive,with travelers limited to either car or plane.California High-Speed Rail promises to change that.AECOM is proud to lead the delivery of this once-in-a-
134、generation project,which is poised to become one of the most transformative infrastructure investments in U.S.history.Our joint venture with some of the nations leading rail delivery specialists positions us to realize its timely delivery.As the nations first dedicated high-speed rail system,Califor
135、nia High-Speed Rail will transform mobility in the state with frequent,200 mile per hour electrified train services.The result will be dramatically reduced travel timesless than three hours between San Francisco and Los Angelesand a new conduit for sustainable mobility statewide.Even before its full
136、,800-mile build-out,the program will provide far more than swifter intercity travel.A core element of its delivery includes concurrent statewide transportation investments to provide mobility,economic and environmental benefits at the earliest possible time.The program will engage 730 small business
137、es and create almost 9,000 jobs with nearly 60%of expenditures in disadvantaged communitieswith further benefits to come.Hamad International AirportAECOM is supporting the infrastructure expansion plans to develop important facilities at Hamad International Airport,which will prepare it for future g
138、rowth and triple the airports overall cargo capacity.The project will enhance the delivery and processing of supplies and important cargo to Qatar,helping to meet the demands of its growing economy while significantly enhancing its global freight operations.As part of the expansion,AECOM will provid
139、e program management services for Cargo Terminal 2 and Amiri Flight Facilities.We will also provide project management and construction management of the new cargo terminals ancillary supporting buildings that include a veterinary inspection center,central utility plant and infrastructure diversions
140、.Program ManagementOur program management and advisory business provides the structure,tools,techniques and processes to deliver on our vision and manage our clients most challenging infrastructure needs.By connecting our expertise and collaborating across services,markets,and geographies,we manage
141、outcome-driven projects that deliver social,economic and environmental value.Throughout the year,we grew our world-class program management business by over 30%and are on track to double the size of the business.We remain committed to the legacies of the programs we manage,and offer ongoing engageme
142、nt through the program lifecycle,from day zero to delivery and beyond.Leadingin ESG24Our leading ESG services solve our clients most complex projects today and into the future,leaving positive impacts for generations to come.Sustainable development and resilience are embedded across all of our work.
143、Over the year,we launched our ESG Advisory practice,set more ambitious science-based net zero targets,developed our global Social Value policy,developed digital tools to help our clients meet their ESG principles,and implemented new ESG training programs.25AECOM2022 Annual ReportAchieving Net Zero C
144、arbon Emissions with Science-Based Targets Initiative To ensure we continue to keep up with the latest best practices and climate science,we have set an updated 2040 net zero target that has been validated by the Science-Based Targets initiative(SBTi),making AECOM one of the first companies globally
145、 to achieve this.As part of our updated,more ambitious net zero commitment we are also targeting:Reducing Scope 1 and 2 emissions by 60%by 2030(compared with 2018)Globally we reduced Scope 1 and 2 emissions,covering fleet vehicles and office energy respectively,by 61%from our fiscal 2018 baseline ye
146、ar using key travel and real estate initiatives.We made progress against this commitment in various ways including by right-sizing our office space,and implementing sustainability guidelines for future office refurbishments and relocations.Some of this reduction also has been due to reduced activity
147、 since the pandemic,which we will need to maintain.Reducing Scope 3 emissions by 50%by 2030(compared with 2018)Reducing our Scope 3 emissions means focusing on our supply chain emissions and business travel.We have driven an 8%decline in our supply chain emissions,including a 62%reduction in busines
148、s travel,since 2018,and are looking to build on this progress through initiatives such as our supplier engagement program,through which we are reaching out to over 7,000 of our top suppliers to support them in setting targets and their own decarbonization efforts.Reducing all emissions by 90%by 2040
149、(compared with 2018)and offsetting remaining emissions in 2040 through high-quality carbon removal projectsachieving this long-term reduction target will mean building on the initiatives across all Scopes put in place for our 2030 targets.We have initiated work on our own pilot natural climate solut
150、ion projects for carbon offsetting.60%50%90%Reduction in Scope 1 and Scope 2 emissions by 2030Reduction in Scope 3 emissions by 2030in total emissions by 2040Sustainable Legacies Pillars Our approach to leading in ESG comes to life through our Sustainable Legacies strategy,which is organized around
151、the following four pillars:Achieve net zero carbon emissions by 2040:We have furthered our own carbon emissions goals by achieving operational net zero for fiscal 2021,while also committing to reach science-based net zero carbon emissions by 2040.Embed sustainable development and resilience across o
152、ur work:We introduced ScopeX,a first-of-its-kind approach with the goal of reducing carbon impact on major projects by at least 50%.We will also embed net zero,resilience and social value targets into our client account management program.Improve social outcomes:We believe equity,diversity and inclu
153、sion enable better outcomes for clients,a deeper understanding of community challenges and more innovative solutions that propel the industry forward.As part of this pledge,we have set an industry-leading,near-term target of women comprising at least 20%of senior leadership roles and at least 35%of
154、the overall workforce.In addition,we have implemented new required unconscious bias training and set specific targets within each of our regions to advance our equity,diversity and inclusion goals.Enhance governance:To better assess ESG risk factors in potential projects,we have deployed an enterpri
155、se framework supported by leadership accountability and advocacy through the audit of specific ESG targets and metrics on an annual basis.Committed to achieving 1.5C aligned science-based targets by 2040We also maintained our operational net zero status in 2022 and commit to maintaining operational
156、net zero status annually.We achieved operational net zero through reduction of Scope 1 and 2 emissions in line with climate science and offsetting remaining emissions.FY 18 FY 22 Category tCO2e/yr tCO2e/yr%ReductionScope 1+2 138,025 53,706-61%Scope 3-Supply chain 2,740,482 2,515,999 -8%Scope 3-Busin
157、ess travel 158,182 60,287 -62%Totals 3,036,689 2,629,992 -13%1.Launched ESG advisory practice26Perhaps our greatest milestone this year has been the launch of our ESG Advisory practice,which deploys our expertise to help our clients navigate this rapidly evolving space and realize their ambitious vi
158、sions.Our specialists are applying their industry-leading skills and experience to develop institutional know-how and service offerings that put us at the forefront of ESG advisory.Working with organizations at the forefront of the global green transition,including the United Kingdoms Network Rail a
159、nd Airport Authority Hong Kong,our Advisory Services are mitigating risk,building trust and improving long-term outcomes.3.Social Value policyWe believe that investing in local communities to create positive social and economic outcomes is at the heart of generating social value.We work with our cli
160、ents,partners and suppliers to link the opportunities presented by our projects to the needs of the local communities we operate in,driving the creation of positive,lasting legacies.Social value is critical to achieving our ESG strategy and making sure that no one is left behind.In fiscal 2022 we pu
161、blished our first Global Social Value Policy,recognizing the importance AECOM,our clients and workforces place on delivering positive outcomes through our operations.We have developed a set of overarching commitments that set a clear strategic direction and allow our regional teams to apply as appro
162、priate within their local context and setting.2.Advanced ScopeX initiativesThe goal of our Sustainable Legacies strategy is straightforward:to ensure that the work we do in partnership with our clients leaves a positive,lasting impact for communities and our planet.One example of embedding ESG princ
163、iples into everything we do is our ScopeX approach,which considers materials,site locations,logistics,and construction methods to reduce and eliminate a projects impact on the natural environment.We minimize energy use,optimize sources of renewable power and,where feasible,work with and enhance natu
164、ral habitats to eliminate carbon emissions.We believe that ScopeX will be our biggest contribution to help end the climate emergency.By decarbonizing the built environment and supporting our clients to achieve their net-zero agendas,were striving to improve the cities and communities we serve,and de
165、livering a better world.4.Sustainable Legacies trainingIn fiscal 2022 we launched training on our Sustainable Legacies strategy to all employees globally,achieving a 100%completion rate.This training was followed by the development of the Sustainable Legacies Academy,a technical training academy cov
166、ering nine lessons on climate mitigation and climate adaptation issues.We also developed bite-size modules on key topics such as ScopeX,improving social outcomes,ESG risk and our science-based net zero targets.Our emissions data has been verified in accordance with ISO 14064-3:2019 against the requi
167、rements of the WRI GHG ProtocolCorporate Accounting Standard and The Greenhouse Gas ProtocolCorporate Value Chain(Scope 3)StandardProgress Against Our ESG StrategyHS2 InterchangeThe U.K.s High Speed 2(HS2)railway is Europes largest infrastructure project and is on the way to becoming one of the worl
168、ds most sustainable and technologically sophisticated high-speed rail networks.By connecting the UKs urban centers and creating much needed capacity,HS2 is designed to create economic stimulus,enabling the mobility of people and goods,and delivering a legacy of skills and societal benefits by enhanc
169、ing the environment and communities around its station hubs.Within this state-of-the-art network,one station stands out:Interchange Station.Weve been selected by Laing ORourke as the designer for this new ultra-low energy station.As a multimodal hub,Interchange Station lives up to its name.It will s
170、erve the West Midlands region as well as Birmingham International Airport,making it a key interchange for rail and air passengers alike.Our ESG strategy,Sustainable Legacies,aligns with the goals of HS2 in delivering a design,which focuses on positive outcomes for users and the local community while
171、 minimizing carbon with a BREEAM Outstanding design.San Diego Gas&ElectricThe year-round threat of wildfires and the escalating impacts of climate change require major investments in technology and energy infrastructure.AECOM is helping to provide program management services in support of San Diego
172、Gas&Electrics(SDG&E)wildfire mitigation and public safety power shutoff risk reduction efforts during extreme weather conditions.As part of the Strategic Undergrounding Program,we will assist in the conversion of hundreds of miles of overhead electric lines in San Diego over the next decade.In addit
173、ion to accelerating the pace and scope of the undergrounding program,we are helping to minimize community disruption and costs and improve efficiencies by implementing sustainable solutions and innovative approaches to pre-construction and construction activities.27AECOM2022 Annual ReportCase Studie
174、sLost Workday Case Rate Trend0.070.060.050.040.030.020.010FY 21FY 220.030.03FY 200.03FY 190.05FY 180.06Total Recordable Incident Rate Trend0.200.160.120.080.040FY 210.09FY 200.11FY 190.16FY 180.15Reduction in LWCR since FY 18Reduction in TRIR since FY 18Corporate GovernanceSafeguarding our people an
175、d operations remains a core priority at AECOM.Fostering an exceptional safety culture based on equity,diversity and inclusion,and where communication,collaboration,and consultation enable ownership for the well-being of self and others continued to be a critical focus in fiscal 2022.50%40%FY 220.092
176、8SafetyAECOMs Safety for Life program,driven by demonstrated leadership commitment and empowered employees,has delivered industry-leading performance and subsequent recognition.AECOM was awarded the Royal Society for the Prevention of Accidents(RoSPA)Presidents Award for having achieved 13 consecuti
177、ve annual Gold Awards.RoSPA defines Gold Award winners as having achieved a very high level of performance,demonstrating well-developed occupational health and safety management systems and culture,outstanding control of risk and very low levels of error,harm and loss.The previous year produced many
178、 events,both world and local,that presented the potential to distract employees,negatively impact their well-being,and prevent them from being mentally present in the workplace.Aligned with AECOMs Safety for Life program,various events,tools,and communications were delivered in fiscal year 2022 to f
179、urther support employee engagement and well-being.Events included our second annual Safeguard 360 virtual conference,allowing our global employees to engage interactively with various resources designed to increase awareness of how our Safeguard core value is executed across our functions.Our focus
180、on emphasizing the critical importance of mindfulness and situational awareness before taking action,and of pre-planning,was initiated in fiscal year 2022 through our“Take a Moment”campaign,which continues to be cascaded globally through our various communication channels.These examples are part of
181、our continuous improvement efforts and further strengthen our Safety for Life program.AECOM is committed to maintaining the physical,psychological,and social well-being of our employees,stakeholders,and global communities through appropriate risk management strategies.AECOMs Culture of Caring and Sa
182、fety for Life program enables us to proactively and aggressively identify,manage and eliminate hazards,and reduce risk in our workplaces.These incident prevention efforts have continued to advance our journey toward a“zero”incident culture,with our incident rates remaining superior to the industry a
183、verage.Within fiscal year 2022,our Total Recordable Incident Rate(TRIR)in our Professional Services businesses reflects an improvement of 40%over the previous five fiscal years while our Lost Workday Case Rate(LWCR)improved by 50%over the same period.AECOM applies the U.S.Occupational Safety and Hea
184、lth Administration(OSHA)recordable injury and illness definition to our global operations,allowing for a standard record-keeping approach across all regions.AECOM metrics include injury and illness incidents associated with AECOM employees and do not include contractor data.TRIR=total number of reco
185、rdable incidents X 200,000 hours Total hours worked LWCR=total number of lost time incidents X 200,000 hours Total hours worked 29AECOM2022 Annual Report30Data SecurityWe recognize the threats to our information technology systems,including unauthorized access,computer hackers,computer viruses,malic
186、ious code,cyberattacks,phishing,and other cybersecurity problems and system disruptions,including possible unauthorized access to our and our clients proprietary information.which received 100%completion in fiscal 2022.We also provide supplemental training on ethics and compliance issues throughout
187、the year and incorporate ethics and compliance principles in our training for new employees and new managers.Furthermore,we have a comprehensive cross-functional ethics and compliance program focused on preventing issues from occurring,detecting them if they happen,effectively and expediently resolv
188、ing issues,and capturing and communicating lessons learned to prevent them from repeating.As a result,we have been recognized six times by Ethisphere as a Worlds Most Ethical Company.In response,we have developed an Information Security Program comprised of robust policies,procedures and standards g
189、overning data privacy and information security of the companys information and assets.We have a structured unified security framework,aligned to industry-leading standards and safeguards,including,but not limited to,ISO 27001,NIST CSF,and NIST 800-53.Security measures are taken to guard against unau
190、thorized access to,alteration,disclosure,or destruction of data and systems.Ethics and ComplianceAt AECOM we believe good ethics is good business.We are committed to always prioritizing ethics and integrity,not simply because its the right thing to do,but also because it helps safeguard our people a
191、nd our company from potential wrongdoing while strengthening our brand and reputation around the world.Our Code of Conduct outlines the legal guidelines we must follow and general ethical principles to help each of us make the right decisions when conducting business worldwide.Leaders at AECOM promo
192、te ethical behavior through a global ethics committee as well as through regional ethics committees.Our employees take part in annual Code of Conduct training,Human Rights CommitmentAECOM is a signatory to the U.N.Global Compact and adheres to the International Bill of Rights and International Labor
193、 Organizations Declaration of Fundamental Principles and Rights at Work,which underscores our commitment to abiding by and promoting international human rights.AECOMs Human Rights Statement and Modern Slavery Act Statement provide more detail on our policies and commitments related to ensuring funda
194、mental rights at work,such as reasonable working conditions and wages and the right to collective bargaining,and combatting human rights abuses,such as modern slavery and child labor.31Troy RuddChief Executive OfficerShirley AdamsChief Human Resources OfficerTodd BattleyChief Strategy OfficerDavid G
195、anChief Legal OfficerGaurav KapoorChief Financial OfficerLara PoloniPresidentBradley W.BussDirectorLydia KennardDirectorKristy Pipes DirectorDouglas W.Stotlar Director,Chairman of the BoardTroy Rudd Director and Chief Executive Officer Daniel R.Tishman DirectorGen.Janet C.WolfenbargerDirectorSander
196、van t Noordende DirectorAECOM LEADERSHIPBOARD OF DIRECTORS*As nominated for election at the 2023 Annual Meeting.AECOM2022 Annual ReportAECOMs common stock trades on the New York Stock Exchange under the symbol ACM.Investor Materials AECOMs Investor Relations website contains background on our compan
197、y and our services,financial information,frequently asked questions and our online annual report,as well as other useful information.For investor information,including additional copies of our Annual Report,Form 10-K,Form 10-Q or other financial literature,please visit our website at .Copies of AECO
198、Ms Form 10-K may be obtained free of charge by contacting William Gabrielski in our Investor Relations department via email at AECOMInvestorR or via phone at(212)973-2982.Independent registered public accounting firm Ernst&Young LLP,Los Angeles,California,USA Transfer Agent Computershare P.O.Box 301
199、70 College Junction,TX 77842(800)368-5948 Scope of ReportThe sustainability data and activities included in this report cover the past several years to provide a clearer picture of our performance.This report covers our owned or operated businesses and does not address the performance of our supplie
200、rs,contractors or partners unless otherwise noted.We have prepared the information and case studies solely to provide a general overview of our sustainability activities,and this report should not be used by anyone making an investment decision.In addition,the information in this report is summarize
201、d and is not a complete description of all of our activities;therefore,we have made qualitative judgements as to certain information to include that could be determined to be inaccurate or incomplete.We did not employ any third party firm to audit this report.Forward-looking Information This report
202、contains forward-looking statements relating to the manner in which we intend to conduct our activities based on our current plans and expectations.These statements are not promises of our future conduct or policy and are subject to a variety of uncertainties and other factors,many of which are beyo
203、nd our control.Therefore,the actual conduct of our activities,including the development,implementation or continuation of any program,policy or initiative discussed in this report,may differ materially in the future.The statements of intention in this report speak only as of the date of this report,
204、and we do not undertake to publicly update any statements in this report.As used in this report,the term“AECOM”and such terms as“the company,”“our,”“its,”“we,”and“us”may refer to one or more of AECOMs consolidated subsidiaries or affiliates or to all of them taken as a whole.All these terms are used
205、 for convenience only and are not intended as a precise description of any of the separate entities,each of which manages its own affairs.1 Revenue,less pass-through revenue;growth rates are presented on a constant-currency basis.2 On a constant-currency basis.3 Excludes the impact of certain items,
206、such as restructuring costs,amortization of intangible assets and other items.See Regulation G Information for a reconciliation of non-GAAP measures to the comparable GAAP measures.4 Reflects segment operating performance,excluding AECOM Capital and G&A.5 Net income before interest expense,tax expen
207、se,depreciation and amortization.AECOM ON NYSEFOOTNOTESDISCLAIMERS321 Includes Russia-related exit costs in fiscal 2022.REGULATION G INFORMATION33AECOM2022 Annual ReportReconciliation of NSRTwelve Months EndedSep 30,2021Sep 30,2022AmericasRevenue$10,226.3$9,939.3 Less:Pass-through revenue 6,629.46,2
208、28.2 Net service revenue$3,596.9$3,711.1International Revenue$3,112.6$3,206.7Less:Pass-through revenue 603.1609.0Net service revenue$2,509.5$2,597.72Segment Performance(excludes ACAP)Revenue$13,338.9$13,146.0Less:Pass-through revenue 7,232.56,837.2Net service revenue$6,106.4$6,308.8Consolidated Reve
209、nue$13,340.9$13,148.2Less:Pass-through revenue 7,232.56,837.2Net service revenue$6,108.4$6,311.0Reconciliation of Adjusted Operating Income Twelve Months EndedSep 30,2021Sep 30,2022Americas Segment:Income from operations$643.0$653.8Amortization of intangible assets17.417.4 Adjusted income from opera
210、tions$660.4$671.2 International Segment:Income from operations$177.0$221.2Amortization of intangible assets5.2 1.4 Adjusted income from operations$182.2$222.6 Segment Performance(excludes ACAP)Income from operations$820.0$875.0 Amortization of intangible assets22.6 18.8 Adjusted income from operatio
211、ns$842.6$893.8 Reconciliation of Adjusted EPS Twelve Months EndedSep 30,2021Sep 30,2022Net income attributable to AECOM from continuing operationsper diluted share$1.97$2.73 Per diluted share adjustments:Restructuring costs1 0.330.75 Amortization of intangible assets 0.150.13Prepayment premium on de
212、bt 0.79Financing charges in interest expense 0.080.03Tax effect of the above adjustments*(0.35)(0.17)Valuation allowances and other tax only items(0.15)Adjusted net income attributable to AECOM from continuing operations per diluted share$2.82$3.47 Reconciliation of Adjusted EBITDATwelve Months Ende
213、dSep 30,2021Sep 30,2022Net income attributable to AECOM from continuing operations$294.7$389.1 Income tax expense 89.0136.1 Depreciation and amortization 176.9 170.2 Interest income included in other income(6.7)(8.2)Interest expense 238.3 110.3 Amortized bank fees included in interest expense(11.4)(
214、4.8)EBITDA$780.8$792.7 Restructuring costs148.9 107.6 Adjusted EBITDA$829.7$900.3 Reconciliation of Net Cash Provided by Operating Activities to Free Cash FlowTwelve Months EndedSep 30,2021Sep 30,2022Net cash provided by operating activities$704.7$713.7 Capital expenditures,net(121.5)(128.1)Free cas
215、h flow$583.2$585.6 About AECOMAECOM(NYSE:ACM)is the worlds trusted infrastructure consulting firm,delivering professional services throughout the project lifecycle from advisory,planning,design and engineering to program and construction management.On projects spanning transportation,buildings,water
216、,new energy and the environment,our public-and private-sector clients trust us to solve their most complex challenges.Our teams are driven by a common purpose to deliver a better world through our unrivaled technical and digital expertise,a culture of equity,diversity and inclusion,and a commitment
217、to environmental,social and governance priorities.AECOM is a Fortune 500 firm and its Professional Services business had revenue of$13.1 billion in fiscal year 2022.See how we are delivering sustainable legacies for generations to come at and AECOM.UNITED STATES SECURITIES AND EXCHANGE COMMISSION WA
218、SHINGTON,D.C.20549 FORM 10-K (Mark one)ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED SEPTEMBER 30,2022 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commissi
219、on file number 000-52423 AECOM(Exact name of Registrant as specified in its charter)Delaware State or Other Jurisdiction Of Incorporation or Organization 61-1088522 I.R.S.Employer Identification Number 13355 Noel Road Dallas,Texas 75240 Address of Principal Executive Offices Zip Code (972)788-1000 R
220、egistrants Telephone Number,Including Area Code Former Name,Former Address and Former Fiscal Year,if Changed Since Last Report Securities registered pursuant to Section 12(b)of the Act:Title of each class Trading Symbol(s)Name of each exchange on which registered Common Stock,$0.01 par value ACM New
221、 York Stock Exchange Indicate by check mark if the registrant is a well-known seasoned issuer,as defined in Rule 405 of the Securities Act.Yes No Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d)of the Act.Yes No Indicate by check mark w
222、hether the registrant(1)has filed all reports required to be filed by Section 13 or 15(d)of the Securities Exchange Act of 1934 during the preceding 12 months(or for such shorter period that the registrant was required to file such reports),and(2)has been subject to such filing requirements for the
223、past 90 days.Yes No Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T(232.405 of this chapter)during the preceding 12 months(or for such shorter period that the registrant was require
224、d to submit such files).Yes No Indicate by check mark whether the registrant is a large accelerated filer,an accelerated filer,a non-accelerated filer,a smaller reporting company,or an emerging growth company.See the definitions of“large accelerated filer,”“accelerated filer,”“smaller reporting comp
225、any,”and“emerging growth company”in Rule 12b-2 of the Exchange Act.Large accelerated filer Accelerated filer Non-accelerated filer Smaller reporting company Emerging growth company If an emerging growth company,indicate by check mark if the registrant has elected not to use the extended transition p
226、eriod for complying with any new or revised financial accounting standards provided pursuant to Section 13(a)of the Exchange Act.Indicate by check mark whether the registrant has filed a report on and attestation to its managements assessment of the effectiveness of its internal control over financi
227、al reporting under Section 404(b)of the Sarbanes-Oxley Act(15 U.S.C.7262(b)by the registered public accounting firm that prepared or issued its audit report.Indicate by check mark whether the registrant is a shell company(as defined in Rule 12b-2 of the Act).Yes No The aggregate market value of regi
228、strants common stock held by non-affiliates on April 1,2022(the last business day of the registrants most recently completed second fiscal quarter),based upon the closing price of a share of the registrants common stock on such date as reported on the New York Stock Exchange was approximately$10.9 b
229、illion.Number of shares of the registrants common stock outstanding as of November 10,2022:138,650,280 DOCUMENTS INCORPORATED BY REFERENCE Part III incorporates information by reference from the registrants definitive proxy statement for the 2023 Annual Meeting of Stockholders,to be filed within 120
230、 days of the registrants fiscal 2022 year-end.2 TABLE OF CONTENTS Page ITEM 1.BUSINESS.3ITEM 1A.RISK FACTORS.16ITEM 1B.UNRESOLVED STAFF COMMENTS.31ITEM 2.PROPERTIES.31ITEM 3.LEGAL PROCEEDINGS.31ITEM 4.MINE SAFETY DISCLOSURE.31ITEM 5.MARKET FOR REGISTRANTS COMMON EQUITY,RELATED STOCKHOLDER MATTERS AN
231、D ISSUER PURCHASES OF EQUITY SECURITIES.32ITEM 6.RESERVED.33ITEM 7.MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.34ITEM 7A.QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.54ITEM 8.FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA.56ITEM 9.CHANGES IN AND DI
232、SAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE.99ITEM 9A.CONTROLS AND PROCEDURES.99ITEM 9B.OTHER INFORMATION.100ITEM 9C.DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS.100ITEM 10.DIRECTORS,EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE.100ITEM 11.EXECUTIVE COMPE
233、NSATION.100ITEM 12.SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS.100ITEM 13.CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS,AND DIRECTOR INDEPENDENCE.100ITEM 14.PRINCIPAL ACCOUNTANT FEES AND SERVICES.100ITEM 15.EXHIBITS AND FINANCIAL STATEMENT SCHEDULE
234、S.101ITEM 16.FORM 10-K SUMMARY.104 3 PART I ITEM 1.BUSINESS In this report,we use the terms“the Company,”“we,”“us”and“our”to refer to AECOM and its consolidated subsidiaries.Unless otherwise noted,references to years are for fiscal years.Our fiscal year consists of 52 or 53 weeks,ending on the Frida
235、y closest to September 30.For clarity of presentation,we present all periods as if the year ended on September 30.We refer to the fiscal year ended September 30,2021 as“fiscal 2021”and the fiscal year ended September 30,2022 as“fiscal 2022.”Overview We are a leading global provider of professional i
236、nfrastructure consulting services for governments,businesses and organizations throughout the world.We provide advisory,planning,consulting,architectural and engineering design,construction and program management services,and investment and development services to commercial and government clients w
237、orldwide in major end markets such as transportation,facilities,water,environmental,and new energy.According to Engineering News-Records(ENRs)2022 Design Survey,we are the second largest general architectural and engineering design firm in the world,ranked by 2021 design revenue,and we are ranked as
238、 the largest environmental and transportation engineering and environmental science firm in the world.In addition,we are ranked by ENR as the leading firm in a number of design end markets,including several water infrastructure-related markets,as well as the number one green design firm and the numb
239、er six green contractor in the world.We utilize our scale and the strength of our workforce to create innovative solutions for our clients,including investments to accelerate the expansion of our digital services and solutions and to create innovative ways of solving the worlds most complex challeng
240、es.Clients are turning to us to create solutions to achieve their Environmental,Social,and Governance(ESG)objectives with a focus on sustainability and resilience,such as supporting the advancement of more efficient energy infrastructure.With our market leading capabilities,we are uniquely well suit
241、ed to address these challenges.4 Our business focuses primarily on providing fee-based knowledge-based services.We primarily derive income from our ability to generate revenue and collect cash from our clients through the billing of our employees time spent on client projects and our ability to mana
242、ge our costs.AECOM Capital primarily derives its income from real estate development sales and management fees.During the first quarter of fiscal 2020,we reorganized our operating and reporting structure to better align with our ongoing professional services business.This reorganization better refle
243、cted our continuing operations after the sale of our Management Services segment,the sale of our self-perform at-risk civil infrastructure and power construction businesses,and the sale of our oil&gas construction business.Our Management Services and self-perform at-risk construction businesses were
244、 part of our former Management Services segment and represented a substantial portion of the revenue of our former Construction Services segment,respectively.These businesses are classified as discontinued operations in all periods presented.We report our continuing business through three segments,e
245、ach of which is described in further detail below:Americas,International,and AECOM Capital(ACAP).Such segments are organized by the differing specialized needs of the respective clients and how we manage the business.We have aggregated various operating segments into our reportable segments based on
246、 their similar characteristics,including similar long-term financial performance,the nature of services provided,internal processes for delivering those services,and types of customers.Americas:Planning,consulting,architectural and engineering design,and construction and program management services
247、to commercial and government clients in the United States,Canada,and Latin America in major end markets such as transportation,facilities,water,government,environmental,and energy.International:Planning,consulting,architectural and engineering design services and program management to commercial and
248、 government clients in Europe,the Middle East,India,Africa,and the Asia-Australia-Pacific regions in major end markets such as transportation,facilities,water,government,environmental,and energy.AECOM Capital(ACAP):Invests primarily in and develops real estate projects.Our Americas and International
249、 Segments Our Americas and International segments comprise a broad array of services,generally provided on a fee-for-service basis.These services include advisory,planning,consulting,architectural and engineering design,program management and construction management for industrial,commercial,institu
250、tional and government clients worldwide.For each of these services,our technical expertise includes civil,structural,process,mechanical,geotechnical systems and electrical engineering,architectural,landscape and interior design,urban and regional planning,project economics,cost consulting and enviro
251、nmental,health and safety work.Our Americas segment provides services generally in the United States,Canada and Latin America.Our International segment provides similar services generally in Europe,the Middle East,India,Africa and the Asia-Australia-Pacific regions.With our technical,advisory and pr
252、ogram management expertise,we are able to provide our clients a broad spectrum of services.For example,within our environmental service offerings,we provide remediation,regulatory compliance planning and management,environmental modeling,climate adaptation and resilience,environmental and social imp
253、act assessment and environmental permitting for major capital/infrastructure projects.In addition,our industry is undergoing a digital transformation,and we are investing in digital capabilities to extend our advantages,improve overall delivery,and create distinct solutions for clients that differen
254、tiate us from competitors.Clients are asking for innovative and more advanced solutions to increasingly complex challenges,where our digital suite of products and investments in innovation are creating a more holistic approach to our work.For example,in fiscal 2022,we launched PipeInsights,which is
255、a digital pipe inspection tool that accelerates the time and reduces the cost of inspection with a high degree of accuracy with embedded Machine Learning capabilities.Our services may be sequenced over multiple phases.For example,in the area of program management and construction management services
256、,our work for a client may begin with a small consulting or planning contract,and may later develop into an overall management role for the project or a series of projects,which we refer to as a program.Program and construction management contracts may employ small or large project teams and,in many
257、 cases,operate as an outsourcing arrangement with our staff located at the project site.5 We provide the services in these segments both directly and through joint ventures or similar arrangements to the following end markets or business sectors:Transportation.Transit and Rail.Light rail,heavy rail(
258、including highspeed,commuter and freight)and multimodal transit projects.Marine,Ports and Harbors.Wharf facilities and container port facilities for private and public port operators.Highways,Bridges and Tunnels.Interstate,primary and secondary urban and rural highway systems and bridge projects.Avi
259、ation.Landside terminal and airside facilities,runways,and taxiways.Facilities.Government.Emergency response services for the U.S.Department of Homeland Security,including the Federal Emergency Management Agency and engineering and program management services for agencies of the Department of Defens
260、e and Department of Energy.Industrial.Industrial facilities for a variety of niche end markets such as manufacturing,distribution,aviation,aerospace,communications,media,pharmaceuticals,renewable energy,chemical,and food and beverage facilities.Urban Master Planning/Design.Strategic planning and mas
261、ter planning services for new cities and major mixed-use developments in locations such as India,China,Southeast Asia,the Middle East,North Africa,the United Kingdom,and the United States.Commercial and Leisure Facilities.Corporate headquarters,high-rise office towers,historic buildings,hotels,leisu
262、re,sports and entertainment facilities,and corporate campuses.Educational.College and university campuses and other educational facilities.Health Care.Private and public health facilities.6 Environmental.Water and Wastewater.Treatment facilities as well as supply,distribution and collection systems,
263、stormwater management,desalinization,and other water reuse technologies.Environmental Management.Remediation,waste handling,testing and monitoring of environmental conditions,and environmental construction management.Water Resources.Regional-scale floodplain mapping and analysis for public agencies,
264、along with the analysis and development of protected groundwater resources for companies in the bottled water industry.New Energy.Demand Side Management.Public K12 schools and universities,health care facilities,and courthouses and other public buildings,as well as energy conservation systems for ut
265、ilities.Transmission and Distribution.Power stations and electric transmissions and distribution and cogeneration systems.Alternative/Renewable Energy.Production facilities such as ethanol plants,onshore and offshore wind farms and micro hydropower,and geothermal subsections of regional power grids.
266、Hydropower/Dams.Hydroelectric power stations,dams,spillways,and flood control systems.Solar.Solar photovoltaic projects and environmental permitting services.Construction Management We provide program and construction management services for large scale building facility construction projects primar
267、ily in the Americas including:Sports arenas.Modern office and residential towers.Hotel and gaming facilities.Meeting and exhibition spaces.Performance venues.Aviation.Education facilities.Mass transit terminals.Data centers.7 Our AECOM Capital Segment ACAP typically partners with investors and exper
268、ienced developers as co-general partners.ACAP may,but is not required to,enter into contracts with our other AECOM affiliates to provide design,owners engineer,construction management,development and operations and maintenance services for ACAP funded projects.ACAP development activity is conducted
269、through joint ventures or subsidiaries that may be consolidated or unconsolidated for financial reporting purposes depending on the extent and nature of our ownership interest.In addition,in connection with the investment activities of ACAP,AECOM or an affiliate may provide guarantees of certain fin
270、ancial obligations,including guarantees for completion of projects,repayment of debt,environmental indemnity obligations,and other lender required guarantees.ACAP focuses on investing in co-general partner equity opportunities with high quality partners,primarily targeting“build-to-core”investments
271、in the top U.S.markets across all property types.Thinking and Acting Globally AECOM is at its best when we think and act globally.Our strategy is focused on setting a new standard of excellence in the professional services industry.First,our operating structure promotes greater connectivity and coll
272、aboration across our seven regions and five global business lines.We drive growth by prioritizing our core markets,leaning into our greatest strengths and ensuring our best talent and resources are focused on nurturing client relationships.We are transforming the way we deliver work through technolo
273、gy and digital platforms improving the client experience and increasing efficiency.Lastly,we are building upon our position as a leading ESG company,unified by our purpose to deliver a better world.Environmental,Social and Governance Matters We are committed to being a leader in environmental sustai
274、nability,social responsibility,and corporate governance.We embrace sustainability by striving to make a positive,lasting impact on society and the environment.Sustainability is at the core of what we do and how we operate focusing on the environmental,social and governance impact of our business.Thr
275、ough our projects and our operations,we have both a significant opportunity and a responsibility to protect,enhance and restore the worlds natural and social systems.8 We are committed to addressing the effects of climate change as a key priority for our sustainability program by improving resilienc
276、e and working to advance increasingly ambitious greenhouse gas emissions reduction targets.To this point,in fiscal 2022,we were among the first companies globally to have set net zero emissions reduction targets approved by the Science Based Targets Initiative(SBTi),which are designed to exceed the
277、goals of the Paris Agreement on climate change.These net zero emissions reduction goals include a near-term target to reduce Scope 1,2 and 3 emissions by 50%by 2030 and a long-term target to reduce total emissions by 90%by 2040.These commitments build upon our commitments as a signatory to the UN Gl
278、obal Compact.In addition,we continue to invest in proprietary innovations and digital solutions.This includes a solution to combat globally pervasive emerging contaminants,such as our proprietary DE-FLUOROTM water treatment solution to destroy per and polyfluoroalkyl substances(PFAS)on-site.In addit
279、ion,we are leading on decarbonization measurement,biodiversity impact and re-wilding through our innovative work at the National Capital Laboratory(NCL)in the U.K.,where we are restoring 100 acres of forest and reintroducing lost species.Our work at the NCL won the 2022 Verdantix Innovation Excellen
280、ce Award for Sustainability Strategy Implementation for success in analyzing and measuring biodiversity impact.We maintain an internal Global ESG Council to coordinate and drive our ESG initiatives across AECOM worldwide,and our Board has oversight over ESG matters.Additional information regarding o
281、ur ESG initiatives is located on the investor relations section of our website,at https:/ Capital Management Our principal asset is our employees,and large percentages of our employees have technical and professional backgrounds and undergraduate and/or advanced degrees.At the end of our fiscal 2022
282、,we employed approximately 50,000 persons,of whom approximately 18,000 were employed in the United States.Over 450 of our domestic employees are covered by collective bargaining agreements or by specific labor agreements,which expire upon completion of the relevant project.We believe that the qualit
283、y and level of service that our professionals deliver are among the highest in our industry.We are committed to enhancing our position as a leading employer in our industry.The foundation of our continuing success is our ability to attract,recruit and retain the industrys best,diverse talent by offe
284、ring a compelling employee value proposition that promises competitive pay and benefits,flexibility and a foundation of learning and career growth,an inclusive culture that supports well-being and encourages collaboration and innovation,and a shared commitment to our values and purpose.This understa
285、nding informs our approach to managing our human capital resources.Our human capital objectives and initiatives are overseen by our Board as per our Corporate Governance Guidelines.Health and Safety.Core to our corporate values is safeguarding our people and fostering a culture of caring that promot
286、es the wellbeing of our employees,contractors and business partners.We safeguard our people,projects and reputation by striving for zero employee injuries and illnesses,while operating and delivering our work responsibly and sustainably.We maintain our industrys best-in-class lost workday case and r
287、ecordable incident rates,and our safety performance is consistently recognized by key clients across the regions where we work as well as by recognized safety organizations.AECOM supports community uptake of approved Covid-19 vaccines as the most effective measure to end the global pandemic and we s
288、trongly encourage that employees receive an approved vaccine.Employees supporting clients through site visits and face-to-face meetings abide by client-worksite Covid-19 protocols,which may include documentation establishing proof of immunization or proof of negative Covid-19 test.We have taken and
289、will continue to take critical steps to keep our people,clients and communities safe from Covid-19.Equity,diversity and inclusion.We are committed to advancing equity,diversity and inclusion in our organization and within our industry.We build safe and respectful work environments where our employee
290、s are invited to bring their talents,backgrounds and expertise to bear on some of the worlds most complex problems and where every person has the opportunity to thrive personally and professionally.We are advancing efforts globally in four key areas:1)Building a workforce reflective of the communiti
291、es we serve through our recruitment efforts,building leadership accountability,and partnering with nonprofit organizations and universities to build the talent pipeline for the future;2)Enriching communities through pro-bono work,volunteerism,philanthropy and strategic partnerships;3)Expanding under
292、standing and empathy among employees through employee resource groups,ED&I events and celebrations,and family-friendly benefit policies;and 4)Prioritizing social equity and impact in every project we pursue and the innovative solutions we deliver.9 Freedom to Grow.As we move beyond the pandemic,we a
293、re continuing to evolve the way we work and offer our employees more freedom of movement and more choices in their personal and professional lives.Freedom to Grow is our global framework designed to support employees in finding the balance and flexibility they need to be their best and deliver for c
294、lients,and a key factor in our ability to attract and retain talent.Employees and managers can evaluate work schedules and locations and align on an arrangement that prioritizes client and team responsibilities while supporting individual needs and includes two-to-three days a week in the office as
295、an expectation.Our Freedom to Grow program goes far beyond just when and where we work.We consider our peoples holistic experience,respecting diversity in work,communication and thinking styles.Workplace of the future.Drawing on the experiences of our teams and our clients during the pandemic,we dev
296、eloped a space and technology framework that allows for seamless connectivity between home offices,company offices and client sites,and a new global workplace design that accounts for reduced capacity requirements and prioritizes sustainability,collaboration and engagement.We are also advancing init
297、iatives to enable the digital delivery of our work by establishing best practices and governance protocols for the digital reuse of core elements of the design process.10 Technical and professional development.We continue to invest in our people and programs that enrich our employees experience,fost
298、er a culture of collaboration and opportunity with an emphasis on global connectivity and leader effectiveness,and position AECOM as the best place to work in our industry.These efforts include offering competitive employee health and well-being programs to support employees and their families,expan
299、ding access to and developing professional and technical training programs,delivering new digital tools to enhance connectivity,networking and collaborations among employees,introducing four distinct career paths.Our digital learning platform,AECOM University,delivers self-directed,personalized lear
300、ning experiences for critical skill building,technical certification and continued education.We also provide high-quality,structured training programs through our Global Business Line Technical Academies,which are created by our global experts and business line leaders to deliver the latest technica
301、l training courses on key global topics,practices and markets that are relevant to our global business.A full range of professional development programs called Leadership at all Levels cultivates innovative thinkers,supportive managers,and impactful leaders through coaching and skill building at eve
302、ry career level.These programs are based on our four pillars of Leadership Capabilities,which outline the behaviors we want our leaders to demonstrate and exemplify for the collective success as an organization.Purpose and impact.As the worlds trusted infrastructure consulting firm and a leader in e
303、nvironmental,social and corporate governance(ESG),we are determined and well-positioned to deliver positive,impactful and Sustainable Legacies for our company,our communities and our planet.Through strategic nonprofit partnerships,pro-bono work,skills-based volunteering and philanthropy,and Blueprin
304、t for a Better World,our corporate responsibility platform,we are focused on delivering access to safe and secure infrastructure to those who need it most,creating opportunity for the leaders of tomorrow and protecting our planet so that our company can fulfill its purpose to deliver a better world.
305、As part of the Blueprint pro-bono program,our technical experts partnered with nonprofit organizations in their local communities to provide critical design,engineering and infrastructure solutions.In addition,we have maintained our commitment to our enterprise strategic nonprofit partners Engineers
306、 Without Borders and Water for People.11 Our Clients Our clients consist primarily of national,state,regional and local governments,public and private institutions and major corporations.The following table sets forth our total revenue attributable to these categories of clients for each of the peri
307、ods indicated:Year Ended September 30,($in millions)2022 2021 2020 U.S.Federal Government.$821.3 6%$1,026.6 8%$1,027.8 8%U.S.State and Local Governments.2,824.0 21 2,797.9 21 2,709.7 20 Non-U.S.Governments.1,800.6 14 1,896.8 14 1,869.0 14 Subtotal Governments.5,445.9 41 5,721.3 43 5,606.5 42 Private
308、 Entities(worldwide).7,702.3 59 7,619.6 57 7,633.5 58 Total.$13,148.2 100%$13,340.9 100%$13,240.0 100%No single client accounted for 10%or more of our revenue in any of the past five fiscal years.Approximately 6%,8%,and 8%of our revenue was derived through direct contracts with agencies of the U.S.f
309、ederal government in the years ended September 30,2022,2021,and 2020,respectively.Contracts The price provisions of the contracts we undertake can be grouped into several broad categories:cost-reimbursable contracts,guaranteed maximum price contracts,and fixed-price contracts.For the year ended Sept
310、ember 30,2022,our revenue was comprised of 41%,33%,and 26%cost-reimbursable,guaranteed maximum price,and fixed-price contracts,respectively.Cost-Reimbursable Contracts Cost-reimbursable contracts include cost-plus fixed fee,cost-plus fixed rate,and time-and-materials price contracts.Under cost-plus
311、contracts,we charge clients for our costs,including both direct and indirect costs,plus a negotiated fee or rate.We recognize revenues 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 co
312、ntracts,we negotiate hourly billing rates and charge clients based on the actual time we expend on the project.In addition,clients reimburse us for materials and other direct incidental expenditures,including payments to subcontractors,incurred in connection with our performance under the contract.T
313、ime-and-material price contracts may also have a fixed-price element in the form of not-to-exceed or guaranteed maximum price provisions.Some cost-plus contracts provide for award fees or a penalty based on performance criteria in lieu of a fixed fee or fixed rate.Other contracts include a base fee
314、component plus a performance-based award fee.In addition,we may share award fees with subcontractors.We generally recognize revenue to the extent of costs actually incurred plus a proportionate amount of the fee expected to be earned.We take the award fee or penalty on contracts into consideration w
315、hen estimating revenue and profit rates,and record revenue related to the award fees when there is sufficient information to assess anticipated contract performance and a significant reversal of the award fee is not probable.Once an award is received,the estimated or accrued fees are adjusted to the
316、 actual award amount.Some cost-plus contracts provide for incentive fees based on performance against contractual milestones.The amount of the incentive fees varies,depending on whether we achieve above,at,or below target results.We originally recognize revenue on these contracts based upon expected
317、 results.These estimates are revised when necessary based upon additional information that becomes available as the contract progresses.12 Guaranteed Maximum Price Contracts Guaranteed maximum price(GMP)contracts share many of the same contract provisions as cost-plus and fixed-price contracts.As wi
318、th cost-plus contracts,clients are provided a disclosure of all project costs,and a lump sum percentage fee is separately identified.We provide clients with a guaranteed price for the overall project(adjusted for change orders issued by clients)and a schedule including the expected completion date.C
319、ost overruns or costs associated with project delays in completion could generally be our responsibility.For many of our commercial or residential GMP contracts,the final price is generally not established until we have subcontracted a substantial percentage of the trade contracts with terms consist
320、ent with the master contract,and we have negotiated additional contract 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
321、.Fixed-Price Contracts Fixed-price contracts include both lump-sum and fixed-unit price contracts.Under lump-sum contracts,we perform all the work under the contract for a specified price.Lump-sum contracts are typically subject to price adjustments if the scope of the project changes or unforeseen
322、conditions arise.Under fixed-unit price contracts,we perform 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
323、-cost basis.Some of our fixed-price contracts require us to provide surety bonds or parent company guarantees to assure our clients that their project will be completed in accordance with the terms of the contracts as further disclosed in Note 18Commitments and Contingencies.In such cases,we may req
324、uire our primary subcontractors to provide similar performance bonds and guarantees and to be adequately insured,and we may flow down the terms and conditions set forth in our agreement on to our subcontractors.There may be risks associated with completing these projects profitably if we are not abl
325、e to perform our services within the fixed-price contract terms.Joint Ventures Some of our larger contracts may operate under joint ventures or other arrangements under which we team with other reputable companies,typically companies with which we have worked for many years.This is often done where
326、the scale of the project dictates such an arrangement or when we want to strengthen either our market position or our technical skills.13 Backlog Backlog represents revenue we expect to realize for work completed by our consolidated subsidiaries and our proportionate share of work to be performed by
327、 unconsolidated joint ventures.Backlog is expressed in terms of gross revenue and,therefore,may include significant estimated amounts of third party or pass-through costs to subcontractors and other parties.We report transaction price allocated to remaining unsatisfied performance obligations(RUPO)o
328、f$20.8 billion,as described in Note 4,Revenue Recognition,in the notes to our consolidated financial statements.The most significant differences between our backlog and RUPO are backlog contains revenue we expect to record in the future where we have been awarded the work,but the contractual agreeme
329、nt has not yet been signed,unconsolidated joint venture backlog where we expect to realize income through equity earnings rather than revenue,and revenue related to service contracts that extend beyond the termination provision of those contracts,where RUPO requires us to assume the contract will be
330、 terminated at its earliest convenience.Accordingly,RUPO is$19.4 billion lower than backlog.For non-government contracts,our backlog includes future revenue at contract rates,excluding contract renewals or extensions that are at the discretion of the client.For contracts with a not-to-exceed maximum
331、 amount,we include revenue from such contracts in backlog to the extent of the remaining estimated amount.We calculate backlog without regard to possible project reductions or expansions or potential cancellations until such changes or cancellations occur.No assurance can be given that we will ultim
332、ately realize our full backlog.Backlog fluctuates due to the timing of when contracts are awarded and contracted and when contract revenue is recognized.Many of our contracts require us to provide services over more than one year.Our backlog for the year ended September 30,2022 increased$1.6 billion
333、,or 4.1%,to$40.2 billion as compared to$38.6 billion for the corresponding period last year,primarily due to an increase in our Americas design and construction management business.The following summarizes backlog(in billions):September 30,2022 2021 Backlog:Americas segment.$35.1$33.4 International segment.5.1 5.2 Total backlog.$40.2$38.6 Competition The markets we serve are highly fragmented and
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