Table of Contents

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 11-K

 

(Mark One)

 

x

 

ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

 

 

 

 

For the fiscal year ended December 31, 2015

 

OR

 

o

 

TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

 

 

 

 

For the transition period from                    to                    

 

Commission file number 1-33447

 

A.            Full title of the plan and the address of the plan, if different from that of the issuer named below:

 

AECOM RETIREMENT & SAVINGS PLAN

 

B.            Name of issuer of the securities held pursuant to the plan and the address to its principal executive office:

 

AECOM

1999 Avenue of the Stars

Los Angeles, California 90067

 

 

 



Table of Contents

 

AECOM Retirement & Savings Plan

 

Financial Statements as of

December 31, 2015 and 2014

and for the Year Ended December 31, 2015,

Supplemental Schedule as of December 31, 2015 and

Reports of Independent Registered Public Accounting Firms

 



Table of Contents

 

AECOM RETIREMENT & SAVINGS PLAN

 

TABLE OF CONTENTS

 

 

Page

 

 

REPORTS OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRMS

1

 

 

FINANCIAL STATEMENTS:

 

 

 

Statements of Net Assets Available for Benefits as of December 31, 2015 and 2014

3

 

 

Statement of Changes in Net Assets Available for Benefits for the Year Ended December 31, 2015

4

 

 

Notes to Financial Statements

5

 

 

SUPPLEMENTAL SCHEDULE:

 

 

 

Schedule H, Part IV, Line 4i, Schedule of Assets (Held at End of Year) as of December 31, 2015

13

 

 

EXHIBIT INDEX

23

 



Table of Contents

 

Report of Independent Registered Public Accounting Firm

 

To the Americas Benefits Administration Committee

AECOM Retirement & Savings Plan

 

We have audited the accompanying statement of net assets available for benefits of the AECOM Retirement & Savings Plan (the Plan) as of December 31, 2015 and the related statement of changes in net assets available for benefits for the year then ended. These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on these financial statements based on our audit. The Plan’s financial statements as of and for the year ended December 31, 2014 were audited by other auditors whose report dated June 29, 2015, included an explanatory paragraph on the retrospective application of the recently adopted accounting pronouncement as discussed in Note B.

 

We conducted our audit in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation.  We believe that our audit provides a reasonable basis for our opinion.

 

In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2015, and the changes in net assets available for benefits for the year then ended, in conformity with accounting principles generally accepted in the United States of America.

 

Our audit was conducted for the purpose of forming an opinion on the financial statements as of and for the year ended December 31, 2015 as a whole.  The supplemental information is presented for the purpose of additional analysis and is not a required part of the financial statements but is supplemental information required by the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. Such information is the responsibility of the Plan’s management and was derived from and relates directly to the underlying accounting and other records used to prepare the financial statements. The information has been subjected to the auditing procedures applied in the audit of the financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the financial statements or to the financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In forming our opinion on the supplemental information in the accompanying schedule, we evaluated whether the supplemental information, including its form and content, is presented in conformity with the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental information is fairly stated in all material respects in relation to the financial statements as a whole.

 

As discussed in Note B to the financial statements, as of and for the year ended December 31, 2015, the Plan implemented Accounting Standards Update No. 2015-12 (ASU 2015-12).  We also have audited the adjustments to the 2014 financial statements to retrospectively apply the implementation of ASU 2015-12, as described in Note B.  In our opinion, such adjustments are appropriate and have been properly applied. We were not engaged to audit, review, or apply any procedures to the 2014 financial statements of the Plan other than with respect to the adjustments and, accordingly, we do not express an opinion or any other form of assurance on the 2014 financial statements taken as a whole.

 

/s/ Vasquez & Company LLP

 

Los Angeles, CA

June 28, 2016

 

1



Table of Contents

 

Report of Independent Registered Public Accounting Firm

 

To the Americas Retirement Plan Investment Committee

AECOM Retirement & Savings Plan

 

We have audited the accompanying statement of net assets available for benefits of AECOM Retirement & Savings Plan (the Plan) as of December 31, 2014. This financial statement is the responsibility of the Plan’s management. Our responsibility is to express an opinion on this financial statement based on our audit.

 

Except as discussed in the following paragraph, we conducted our audit in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statement is free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statement. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

 

We were not engaged to audit the retrospective application of the recently adopted accounting pronouncements and related information reflected on the statement of net assets available for benefits as of December 31, 2014 and the related footnote disclosures, as discussed in Note B to the financial statement.

 

In our opinion, except for effects of such adjustments, if any, as might have been determined to be necessary had we been engaged to audit the Plan’s retroactive application of the recently adopted accounting pronouncements, the financial statement referred to above presents fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2014, in conformity with accounting principles generally accepted in the United States of America.

 

 

/s/ RSM US LLP

Los Angeles, California

June 29, 2015

 

2



Table of Contents

 

AECOM RETIREMENT & SAVINGS PLAN

 

STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS

DECEMBER 31, 2015 AND 2014

 

 

 

2015

 

2014

 

 

 

(expressed in thousands)

 

ASSETS:

 

 

 

 

 

Investments—at fair value (Notes B and C)

 

$

1,780,182

 

$

1,915,767

 

Cash

 

54,154

 

 

 

 

 

 

 

 

Receivables:

 

 

 

 

 

Notes from participants (Note A)

 

14,673

 

14,889

 

Participant contributions

 

3,041

 

 

Employer contributions

 

1,663

 

180

 

Accrued income

 

575

 

221

 

Other

 

51

 

49

 

Total receivables

 

20,003

 

15,339

 

 

 

 

 

 

 

Total assets

 

1,854,339

 

1,931,106

 

 

 

 

 

 

 

LIABILITIES:

 

 

 

 

 

Payables:

 

 

 

 

 

Accrued expenses

 

535

 

452

 

Total payables

 

535

 

452

 

 

 

 

 

 

 

Net Assets Available for Benefits

 

$

1,853,804

 

$

1,930,654

 

 

See notes to financial statements.

 

3



Table of Contents

 

AECOM RETIREMENT & SAVINGS PLAN

 

STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS

YEAR ENDED DECEMBER 31, 2015

 

 

 

2015

 

 

 

(expressed in
thousands)

 

ADDITIONS (DEDUCTIONS) TO NET ASSETS ATTRIBUTED TO:

 

 

 

INVESTMENT INCOME (LOSS)

 

 

 

Net depreciation in fair value of investments

 

$

(45,128

)

Interest and dividends

 

45,932

 

Net investment income

 

804

 

 

 

 

 

INTEREST INCOME ON NOTES RECEIVABLE FROM PARTICIPANTS

 

594

 

 

 

 

 

CONTRIBUTIONS:

 

 

 

Participants

 

91,208

 

Employer

 

24,151

 

Total contributions

 

115,359

 

 

 

 

 

Total additions

 

116,757

 

 

 

 

 

DEDUCTIONS FROM NET ASSETS ATTRIBUTED TO:

 

 

 

Benefits paid to participants (Note D)

 

(191,576

)

Administrative expenses (Note E)

 

(2,031

)

 

 

 

 

Total deductions

 

(193,607

)

 

 

 

 

NET DECREASE

 

(76,850

)

 

 

 

 

NET ASSETS AVAILABLE FOR BENEFITS:

 

 

 

Beginning of year

 

1,930,654 

 

 

 

 

 

End of year

 

$

 1,853,804

 

 

 

 

 

 

See notes to financial statements.

 

4



Table of Contents

 

AECOM RETIREMENT & SAVINGS PLAN

 

NOTES TO FINANCIAL STATEMENTS

 

A.                           DESCRIPTION OF THE PLAN

 

The following brief description of AECOM Retirement & Savings Plan (the “Plan”) (formerly the AECOM Technology Corporation Retirement & Savings Plan) is provided for general information purposes only.  Participants should refer to the Plan document and the Summary Plan Description for more complete information.

 

General — The Plan is a defined contribution plan that was established to provide benefits to eligible employees of AECOM (“AECOM” or the “Company”) and various subsidiaries meeting certain employment requirements.  The Plan is administered by the Americas Benefits Administration Committee as authorized by AECOM.  The Plan is subject to the applicable provisions of the Employee Retirement Income Security Act of 1974 (“ERISA”), as amended.

 

The Plan is intended to qualify as a defined contribution plan (and an eligible individual account plan, as defined in Section 407(d)(3) of ERISA) which is qualified and exempt from taxation under Section 401(a) and 501(a) of the Internal Revenue Service Code (the “Code”) and is intended to qualify as a profit sharing plan which may invest in shares of stock of the Company which meet the requirements for “qualifying employer securities” under Section 407(d)(5) of ERISA.  Assets of the Plan, except for assets in certain separately managed accounts, are held by Bank of America, N.A., the trustee and record keeper (the “Trustee”), and assets in the separately managed accounts are held by Northern Trust Corporation (the “Custodian”).

 

Each participant is entitled to exercise voting rights attributable to the Company shares allocated to his or her account and is notified by the Trustee prior to the time that such rights are to be exercised.  The Trustee, at its discretion, is permitted to vote for any share for which instructions have not been given by a participant.

 

Eligibility — Employees become eligible to participate in the Plan on the first day of the second calendar month of service.  If the employee decides not to participate when they are first eligible, they may begin participating anytime, provided they are an eligible employee of the Company on that date.  “Eligible employee” shall mean a person who is an employee of the Company, excluding (i) any leased employee described in Section 414(n) of the Code, (ii) any employee who is covered by a collective bargaining agreement between employee representatives and the Company unless such bargaining agreement specifically provides otherwise, (iii) any employee who is compensated on an hourly rate or other rate basis if such employee is not included in a designated eligible payroll classification code so designated by the Company, and (iv) any person who is a non-resident alien who receives no earned income (within the meaning of Code Section 911(b)) from sources within the United States.

 

Employee Contributions:

 

After-Tax Contributions — Participants may elect to make after-tax contributions in percentages from 0.5% to 50% of compensation.

 

Tax-Deferred Contributions — Participants may elect to make tax-deferred contributions in percentages from 0.5% to 50% of eligible compensation limited to a maximum annual amount specified by the Code ($18,000 in 2015).

 

Roth Contributions — Participants may elect to make Roth contributions in percentages from 0.5% to 50% of eligible compensation limited to a maximum annual amount specified by the Code ($18,000 in 2015).

 

The total of all participant contributions is limited to 50% of employee compensation.

 

Catch-Up Contributions — Participants who have attained age 50 before the end of the Plan year are eligible to make catch-up contributions (limited to $6,000 in 2015).

 

Participants may also contribute amounts representing rollovers from other qualified plans.

 

Participant Accounts — Each participant’s account is credited with the participant’s contributions and rollovers and Company contributions which are directly made to a participant’s account and allocations of Plan investment earnings or losses. Allocations are based on participant earnings or account balances, as defined by the Plan document. Certain administration fees are paid from the participant’s account. The benefit to which a participant is entitled is the benefit that may be provided from the participant’s vested account.

 

5



Table of Contents

 

AECOM RETIREMENT & SAVINGS PLAN

 

NOTES TO FINANCIAL STATEMENTS

 

A.                           DESCRIPTION OF THE PLAN (Concluded)

 

Employer Contributions — The participants’ pre-tax, Roth, and after-tax contributions made to the Plan are matched 50% by the Company up to 6% of eligible compensation.  The Company’s match is allocated 50% to the participant’s selected investment allocations and 50% to Company common stock, which is acquired on the open market.  Participants can transfer their investment in AECOM common stock to other investment options and make withdrawals, subject to certain Plan and legal restrictions, out of the Plan at any time.

 

Vesting — Participants’ contributions and rollovers, and the earnings thereon, are at all times vested in such participants’ accounts.  A participant is 100% vested in any Company matching contributions after three years of credited service (0% prior to three years) or upon attaining age 65, becoming disabled or deceased while employed at the Company.  Vesting of Company contributions and earnings thereon are based on years of continuous service.  The portion of a participant’s account balance that is not vested upon termination of employment is forfeited at the time the participant receives a distribution or as of the end of the Plan year in which the participant incurs five consecutive breaks in service, as defined in the Plan document, whichever occurs first.  These unvested forfeited Company contributions are accumulated in the forfeiture account and are available to reduce subsequent Company contributions or pay Plan expenses.  The balance in the forfeiture account was $3.6 million and $1.7 million at December 31, 2015 and 2014, respectively.  Forfeitures used to reduce the Company’s contributions or Plan expenses for the year ended December 31, 2015 were not significant.

 

Notes Receivable from Participants — Active participants may obtain loans from the Plan with the consent of the Plan Administrator.  The minimum loan amount permitted is $1,000; the maximum is the lesser of $50,000 or 50% of the participant’s vested account balance.  The interest rates are no less than 1% over the prime rate as provided by Merrill Lynch Investments.  Notes receivable from participants bear interest at rates that range from 4.25% to 9.50% at December 31, 2015 and 2014.  The repayment period of such loans cannot exceed five years, unless the proceeds are used to buy the participant’s principal residence, in which case longer terms, up to 20 years, are allowed.  These loans are secured by a promissory note from the participant and his or her vested interest in the Plan. The notes are recorded at cost plus accrued interest.

 

Accounting principles generally accepted in the United States of America require that the participant loans be classified as notes receivable from participants, which are segregated from plan investments.  Notes receivable from participants have been classified as an investment asset for the Form 5500 reporting purposes.

 

Distributions — Generally, distributions are made upon a participant’s election after a participant terminates employment, becomes disabled, dies, or turns age 59-1/2 (in the event of death, payment shall be made to his or her beneficiary or, if none, to his or her legal representatives).  Distributions are made in one single lump-sum in the form of cash or in-kind distribution.  Installments and annuity distribution options for members of certain acquired companies, provided in previously merged plans, were grandfathered in as a protected benefit.  Certified hardship withdrawals are permitted on vested amounts for certain substantiated financial reasons.  If the participant takes a hardship withdrawal, the participant will be suspended from making further contributions to the Plan for a six-month period.

 

B.                           SIGNIFICANT ACCOUNTING POLICIES

 

Basis of Accounting — The accompanying financial statements have been prepared on the accrual basis in accordance with accounting principles generally accepted in the United States of America.

 

Investment contracts held by a defined contribution plan are required to be reported at fair value, except for fully benefit-responsive investment contracts.  Contract value is the relevant measurement attribute for that portion of the net assets available for benefits of a defined contribution plan attributable to fully benefit-responsive investment contracts because contract value is the amount participants would receive if they were to initiate permitted transactions under the terms of the Plan.  The Plan invests in these investment contracts indirectly through a collective investment trust.

 

6



Table of Contents

 

AECOM RETIREMENT & SAVINGS PLAN

 

NOTES TO FINANCIAL STATEMENTS

 

B.                           SIGNIFICANT ACCOUNTING POLICIES (Continued)

 

Due to a clarification in application of Topic 946 to employee benefit plan accounting, contract value of indirect investments in fully benefit-responsive contracts is understood to be the fair value.  Therefore, the adjustment from fair value to contract value from the previously presented December 31, 2014 Statement of Net Assets Available for Benefits has been reclassified and presented as part of Investments—at fair value.

 

Use of Estimates — The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires the Plan’s management to make estimates and assumptions that affect certain reported amounts and disclosures.  Accordingly, actual results could differ from those estimates.

 

Investment Valuation and Income Recognition —Investments held by the Plan are reported at fair value.  Fair value of AECOM common stock and other shares of common stock is based on publicly quoted market prices.  Fair value of mutual funds is based on quoted market prices.  Investments in collective investment trusts are stated at net asset value of the applicable fund as determined by the administrator of the collective trust.  The cost of investments sold or distributed is determined on the basis of average cost for each participant.  Purchases and sales of securities are reflected on the trade date.  Transactions pending clearing with brokers not settled at year-end are recorded as other receivables or payables on the Statements of Net Assets Available for Benefits.  Dividends are recorded on the ex-dividend date.  Interest income is recorded as earned.  Net appreciation or depreciation in fair value of investments includes the Plan’s gains and losses on investments bought and sold as well as held during the year.

 

Payment of Benefits — Benefits are recorded when paid by the Plan.

 

Administrative Expenses — The Plan incurs monthly recordkeeping and administrative expenses.  Specific participant transaction expenses are deducted from participant accounts directly.  Plan expenses that cannot be directly charged to a specific participant transaction may be paid, in whole or in part, from revenue sharing payments that the Plan receives from certain participating funds.  For the year ended December 31, 2015, the Plan incurred $2.0 million of recordkeeping and administrative expenses.

 

Fair Value Measurements — The Plan’s investments, which are stated at fair value are disclosed in accordance with the established framework and disclosure requirements described in the FASB ASC No. 820-10, “Fair Value Measurements and Disclosures” (ASC 820-10), which defines fair value, establishes a framework for measuring fair value under current accounting pronouncements that require or permit fair value measurement and enhances disclosures about fair value measurements.  ASC 820-10 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction value hierarchy which requires an entity to maximize the use of observable inputs when measuring fair value.

 

The standard describes three levels of inputs that may be used to measure fair value:

 

Level 1 — Inputs to the valuation methodology are quoted prices available in active markets for identical investments as of the reporting date;

 

Level 2 — Inputs to the valuation methodology include:

 

·            quoted prices for similar assets or liabilities in active markets;

·           quoted prices for identical or similar assets or liabilities in inactive markets;

·           inputs other than quoted prices that are observable for the asset or liability;

·           inputs that are derived principally from or corroborated by observable market data by correlation or other means.

 

If the asset or liability has a specified (contractual) term, the Level 2 input must be observable for substantially the full term of the asset or liability.

 

Level 3 — Inputs to the valuation methodology are unobservable inputs in situations where there is little or no market activity for the asset or liability and the reporting entity makes estimates and assumptions related to the pricing of the asset or liability including assumptions regarding risk.

 

7



Table of Contents

 

AECOM RETIREMENT & SAVINGS PLAN

 

NOTES TO FINANCIAL STATEMENTS

 

B.                           SIGNIFICANT ACCOUNTING POLICIES (Continued)

 

A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement.

 

The following is a description of the valuation methodologies used for instruments measured at fair value, including the general classification of such instruments pursuant to the valuation hierarchy.

 

AECOM Common Stock

 

AECOM common stock is valued at the closing price reported on the New York Stock Exchange (“NYSE”) Composite Listing and is classified within Level 1 of the valuation hierarchy.

 

Mutual Funds

 

A mutual fund is an investment company registered under the Investment Company Act of 1940 that pools the capital of many investors and invests it in stocks, bonds, short-term money market instruments, and/or other securities.  These investments are public investment vehicles valued using the Net Asset Value (“NAV”) provided by the administrator of the fund.  The NAV is based on the value of the underlying assets owned by the fund, minus its liabilities, and then divided by the number of shares outstanding.  The NAV is a quoted price in an active market and classified within Level 1 of the valuation hierarchy.

 

Collective Investment Trusts

 

A collective investment trust is a trust for the collective investment and reinvestment of assets contributed from employee benefit plans maintained by more than one plan.  These investments are valued using the NAV provided by the administrator of the collective trust.  The NAV is based on the value of the underlying assets owned by the fund, minus its liabilities, and then divided by the number of shares outstanding.  The NAV is used as a practical expedient to estimate fair value.  The Plan also invests in a Stable Value Collective Investment Trust, which contains fully benefit-responsive investment contracts (“FBRIC”).  These FBRIC’s are valued at contract value. Because the Plan’s investment in FBRIC is an indirect investment through a collective investment trust, the contract value of the indirect investment is understood to be the fair value of the investment.  The collective investment trusts are classified within Level 2 of the valuation hierarchy because the NAV’s unit price is quoted on a private market that is not active.

 

Separately Managed Accounts

 

Separately managed accounts are not mutual funds registered under the Investment Company Act of 1940, but instead are individual managed investment accounts managed by an investment adviser.  The underlying investments include investments in publicly traded common stock and bonds, in both domestic and foreign markets, and in money market funds.  The fair values of the underlying assets of the separately managed accounts are priced by the investment advisor using the last quoted sale price listed or regularly traded on a securities exchange or in the over-the-counter market or, for certain markets, the official closing price at the time the valuations are made. Because the underlying assets are valued using quoted prices available in active markets, they are classified within Level 1.

 

The preceding methods described may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values.  Furthermore, although Plan management believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date.

 

Transfers Between Levels — The availability of observable market data is monitored to assess the appropriate classification of financial instruments within the fair value hierarchy.  Changes in economic conditions of model-based valuation techniques may require the transfer of financial instruments from one fair value level to another.  In such instances, the transfer is reported at the beginning of the reporting period.  We evaluate the significance of transfers between levels based on the nature of the financial instruments’ size or the transfer relative to total net assets available for benefits.  For the years ended December 31, 2015 and 2014, there were no transfers between levels.

 

8



Table of Contents

 

AECOM RETIREMENT & SAVINGS PLAN

 

NOTES TO FINANCIAL STATEMENTS

 

B.                           SIGNIFICANT ACCOUNTING POLICIES (Concluded)

 

Recent Accounting Pronouncements — In May 2015, the FASB issued Accounting Standards Update (“ASU”) No. 2015-07, Disclosures for Investment in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent) (“ASU 2015-07”).  ASU 2015-07 seeks to eliminate diversity in practice surrounding how investments measured at net asset value under the practical expedient with future redemption dates have been categorized in the fair value hierarchy.  It is effective for annual reporting periods beginning after December 15, 2015.  The Plan’s management is currently in the process of evaluating the impact of the adoption of the new accounting guidance on its Plan financial statements.

 

In July 2015, the FASB issued ASU No. 2015-12, Plan Accounting:  Defined Benefit Pension Plans (Topic 960), Defined Contribution Pension Plan (Topic 962), Health and Welfare Benefit Plans (Topic 965) :  (Part I) Fully Benefit-Responsive Investment Contracts, (Part II) Plan Investment Disclosures, and (Part III) Measurement Date Practical Expedient (a consensus of the FASB Emerging Issues Task Force ) (“Update”).  The purpose of this Update is to simplify plan accounting.  The amendments in Part I of this update designate contract value as the only required measure for direct investments in fully benefit-responsive investment contracts.  Fully benefit-responsive investment contracts will be presented at the contract value; accordingly, there will no longer be an adjustment from fair value to contract value on the face of the financial statements.  The amendments in Part II of the Update will eliminate the requirements for plans to disclose (1) individual investments that represent 5 percent or more of net assets available for benefits and (2) the net appreciation or depreciation for investments by general type for both participant-directed investments and nonparticipant-directed investments.  The net appreciation or depreciation in investments for the period will still be required to be presented in aggregate.  The amendments in Part III of the Update reduce complexity in employee benefit plan accounting by providing a practical expedient that permits plans to measure investments and investment-related accounts as of a month-end date that is closest to the plan’s fiscal year-end, when the fiscal period does not coincide with month-end.  The Update may be adopted in whole or by part (I, II, and III), as applicable.  The amendments in this Update are effective for fiscal years beginning after December 15, 2015.  The Plan early adopted this Update, and it resulted in the reclassification of $1.4 million from the “Adjustment from fair value to contract value for interest in a collective investment trust relating to fully benefit-responsive investment contracts” to “Investments—at fair value” within the Statement of Net Assets Available for Benefits as of December 31, 2014, as discussed above in Basis of Accounting. Disclosures of individual investments that comprised 5 percent or more of net assets available for benefits, as well as the net appreciation or depreciation of fair value by investment type have been eliminated as a result of the early adoption of this Update.  There were no other significant impacts on the Statements of Net Assets Available for Benefits as of December 31, 2015 and 2014, and the Statement of Changes in Net Assets Available for Benefits for the year ended December 31, 2015 for early adopting this Update.

 

C.                           FAIR VALUE MEASUREMENTS

 

Below are the Plan’s investments carried at fair value on a recurring basis by the ASC 820-10 fair value hierarchy levels described in Note B.

 

 

 

As of December 31, 2015

 

 

 

Quoted Prices in
Active Markets for
Identical Assets
(Level 1)

 

Significant
Observable
Inputs
(Level 2)

 

Significant
Unobservable
Inputs
(Level 3)

 

Total
Fair Value

 

 

 

(expressed in thousands)

 

AECOM common stock

 

$

199,241

 

$

 

$

 

$

199,241

 

Mutual funds

 

749,627

 

 

 

749,627

 

Collective investment trusts

 

 

477,673

 

 

477,673

 

Separately managed accounts

 

217,495

 

 

 

217,495

 

Self-directed brokerage accounts

 

136,146

 

 

 

136,146

 

 

 

 

 

 

 

 

 

 

 

Total investments

 

$

1,302,509

 

$

477,673

 

$

 

$

1,780,182

 

 

9



Table of Contents

 

AECOM RETIREMENT & SAVINGS PLAN

 

NOTES TO FINANCIAL STATEMENTS

 

C.                           FAIR VALUE MEASUREMENTS (Concluded)

 

 

 

As of December 31, 2014

 

 

 

Quoted Prices in
Active Markets for
Identical Assets
(Level 1)

 

Significant
Observable
Inputs
(Level 2)

 

Significant
Unobservable
Inputs
(Level 3)

 

Total
Fair Value

 

 

 

(expressed in thousands)

 

AECOM common stock

 

$

212,508

 

$

 

$

 

$

212,508

 

Mutual funds

 

1,340,251

 

 

 

1,340,251

 

Collective investment trust

 

 

96,157

 

 

96,157

 

Separately managed accounts

 

133,168

 

 

 

133,168

 

Self-directed brokerage accounts

 

133,683

 

 

 

133,683

 

 

 

 

 

 

 

 

 

 

 

Total investments

 

$

1,819,610

 

$

96,157

 

$

 

$

1,915,767

 

 

Net Asset Value per Share — The following tables summarize Level 2 investments measured at fair value based on NAV per share as of December 31, 2015 and 2014, respectively.

 

December 31, 2015

 

Fair Value
(in $000)

 

Unfunded
Commitment

 

Redemption
Frequency (if
Currently
Eligible)

 

Redemption
Notice Period

 

AECOM Stable Value Fund (a)

 

$

149,900

 

n/a

 

Daily

 

None

 

Vanguard Employee Benefit Index (b)

 

112,111

 

n/a

 

Daily

 

None

 

Vanguard Target Trust Select Income (c)

 

 9,114

 

n/a

 

Daily

 

None

 

Vanguard Trust Select 2010 Fund (d)

 

 9,696

 

n/a

 

Daily

 

None

 

Vanguard Trust Select 2015 Fund (d)

 

 17,008

 

n/a

 

Daily

 

None

 

Vanguard Trust Select 2020 Fund (d)

 

 63,086

 

n/a

 

Daily

 

None

 

Vanguard Trust Select 2025 Fund (d)

 

 7,154

 

n/a

 

Daily

 

None

 

Vanguard Trust Select 2030 Fund (d)

 

 55,862

 

n/a

 

Daily

 

None

 

Vanguard Trust Select 2035 Fund (d)

 

 3,751

 

n/a

 

Daily

 

None

 

Vanguard Trust Select 2040 Fund (d)

 

 34,784

 

n/a

 

Daily

 

None

 

Vanguard Trust Select 2045 Fund (d)

 

 2,401

 

n/a

 

Daily

 

None

 

Vanguard Trust Select 2050 Fund (d)

 

10,201

 

n/a

 

Daily

 

None

 

Vanguard Trust Select 2055 Fund (d)

 

 1,873

 

n/a

 

Daily

 

None

 

Principal Diversified Real Asset Fund (e)

 

732

 

n/a

 

Daily

 

None

 

 

December 31, 2014

 

Fair Value
(in $000)

 

Unfunded
Commitment

 

Redemption
Frequency (if
Currently
Eligible)

 

Redemption
Notice Period

 

Fidelity Managed Income Portfolio II Class IV Fund (a)

 

$

96,157

 

n/a

 

Daily

 

None

 

 


(a)              Fund invests primarily in the Fidelity Managed Income Portfolio II, which seeks the preservation of capital and to provide a competitive level of income over time that is consistent with the preservation of capital.

(b)             Fund seeks to provide long-term capital appreciation through investments in stocks of small companies.

(c)              Fund seeks to provide current income and some capital appreciation through investment in five Vanguard index funds.

(d)             Funds invest in a diversified portfolio which seeks to invest in assets of an appropriate risk level for average investors at various stages in their working lives.

(e)              Fund seeks long-term total return in excess of inflation through investments primarily in assets related to real assets and real asset companies.

 

10



Table of Contents

 

AECOM RETIREMENT & SAVINGS PLAN

 

NOTES TO FINANCIAL STATEMENTS

 

D.                           BENEFITS PAYABLE

 

Net assets available for benefits at December 31, 2015 and 2014 include $2.6 and $2.4 million, respectively, for participants who have withdrawn from the Plan and have requested distribution of benefits, but have not yet been paid.

 

E.                           RELATED PARTY TRANSACTIONS

 

Certain Plan investments are shares of common stock of AECOM.  In addition, AECOM charges the Plan for certain administrative labor costs.  The total cost of administrative labor charged to the Plan by AECOM during the year ended December 31, 2015 was $209,000.  AECOM is the Plan sponsor as defined by the Plan and, therefore, these transactions qualify as party-in-interest transactions.  The Plan holds self-directed brokerage accounts and investments managed by Bank of America, N.A. and their affiliates, and these transactions qualify as party-in-interest transactions.  The Plan also holds common stock in Northern Trust Corporation and investments managed by Northern Trust Corporation, and these transactions also qualify as party-in-interest transactions.

 

F.                            PLAN TERMINATION

 

Although it has not expressed any intent to do so, AECOM has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions of ERISA.  In the event of the Plan’s termination, participants will become 100% vested in their accounts.

 

G.                          TAX STATUS

 

The Plan received its latest determination letter on February 2, 2016, in which the Internal Revenue Service (“IRS”) indicated that the form of the Plan complies with the applicable requirements of the Internal Revenue Code. The Plan was amended since receiving the determination letter.  The Plan administrator and the Plan’s tax counsel believe that the Plan is designed and is currently being operated in compliance with the applicable requirements of the Code and therefore believe that the Plan continues to be qualified and the related trust is tax-exempt.

 

Accounting principles generally accepted in the United States of America require plan management to evaluate tax positions taken by the Plan and recognize a tax liability (or asset) if the Plan has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS.  The Plan administrator has analyzed the tax positions taken by the Plan, and has concluded that as of December 31, 2015, there are no uncertain positions taken or expected to be taken that would require recognition of liability (or asset) or disclosure in the financial statements.

 

H.                          RISKS AND UNCERTAINTIES

 

The Plan invests in various investment securities.  Investment securities are exposed to various risks such as interest rate, market and credit risks.  Due to the level of risk associated with certain investment securities, it is at least reasonably possible that changes in the value of investment securities will occur in the near term, and that such change could materially affect participant’s account balances and the amounts reported in the financial statements.  The Plan’s exposure to a concentration of risk is limited by the diversification of investments across various participant-directed investment options.  Additionally, the investments within each participant-directed investment option are further diversified into varied financial instruments, with the exception of AECOM common stock, which is a single security.

 

11



Table of Contents

 

AECOM RETIREMENT & SAVINGS PLAN

 

NOTES TO FINANCIAL STATEMENTS

 

I.                               RECONCILIATION OF FINANCIAL STATEMENTS TO FORM 5500

 

The following is a reconciliation of net assets available for benefits per the financial statements at December 31, 2015 and 2014 to Form 5500:

 

 

 

2015

 

2014

 

 

 

(expressed in thousands)

 

Net assets available for benefits per the financial statements

 

$

1,853,804

 

$

1,930,654

 

 

 

 

 

 

 

Adjustment from contract value to fair value for interest in a collective investment trust fund relating to fully-benefit responsive investment contracts

 

 

1,404

 

 

 

 

 

 

 

Amounts allocated to withdrawing participants

 

(2,578

)

(2,412

)

 

 

 

 

 

 

Net assets available for benefits per Form 5500

 

$

1,851,226

 

$

1,929,646

 

 

The following is a reconciliation of the total net decrease per the financial statement for the year ended December 31, 2015 to Form 5500:

 

 

 

2015

 

 

 

(expressed in
thousands)

 

Total net decrease per financial statements

 

$

(76,850

)

 

 

 

 

 

Net change in adjustment from contract value to fair value for interest in a collective investment trust fund relating to fully-benefit responsive investment contracts

 

 

(1,404

)

 

 

 

 

Net change in amounts allocated to withdrawing participants

 

(166

)

 

 

 

 

Total net decrease per Form 5500

 

$

(78,420

)

 

J.                             SUBSEQUENT EVENTS

 

Certain Plan provisions changed effective January 1, 2016.  The significant changes consisted of:

 

·                  Eligibility — All employees who meet the eligibility requirements of the Plan, including new hires, are eligible to participate in the Plan with no waiting period. Part-time and temporary employees are also eligible to participate.

·                  Increased employee contribution limits — The combined limit that participants may elect to make after-tax, tax-deferred, and Roth increased from 50% to 75%.   Contribution elections can only be made in whole percentages.

·                  Vesting — Participants will vest in Company matching contributions over a three-year period based on the “elapsed time” method rather than “hours of service.”  A participant continues to be 100% vested in the participant’s contributions, rollovers, and earnings thereon.

·                  Auto enrollment — Newly eligible employees will be automatically enrolled as a participant at a deferral rate of 1% as of the first day of the pay period that is as soon as administratively feasible unless they affirmatively elect a different deferral percentage or elect not to participate in the Plan.

·                  Distribution —Terminated participants may elect to receive distribution of their account balances in monthly, quarterly, semi-annual or annual installments in addition to lump sum distributions.

·                  Company match — Participants must be employed on the last day of the Plan year (or employment discontinued due to death, disability or retirement at or after age 65) for them to receive Company matching contributions.   Participants will also receive the Company matching contribution if they terminate employment during the year with at least 30 years of service or after attainment of age 55 with 10 or more years of service, or due to a reduction in force, project loss, project completion, or participation in an approved voluntary severance program as determined by the Company.

 

12



Table of Contents

 

AECOM RETIREMENT & SAVINGS PLAN

 

EIN#: 61-1088522                                          PLAN#: 055

FORM 5500, SCHEDULE H, PART IV, LINE 4i

SCHEDULE OF ASSETS (HELD AT END OF YEAR)

DECEMBER 31, 2015

 

(a)

 

(b)
Identity of Issue, Borrower, Lessor, or Similar Party

 

(c)
Description of Investment, Including Maturity Date,
Rate of Interest, Collateral, Par or Maturity Value

 

(d)
Cost

 

(e)
Current Value

 

 

 

 

 

 

 

 

 

 

 

*

 

AECOM Common Stock

 

6,634,707 shares

 

**

 

$

199,240,263

 

 

 

 

 

 

 

 

 

 

 

 

 

Registered Investment Companies:

 

 

 

 

 

 

 

 

 

American EuroPacific Growth Fund Class R6

 

1,648,971 shares

 

**

 

74,731,386

 

 

 

BlackRock Advisors BIF Money Fund

 

2,577,669 shares

 

**

 

2,577,669

 

 

 

Dodge & Cox International Stock

 

1,542,263 shares

 

**

 

55,605,103

 

 

 

Fidelity Investments Balanced Fund

 

5,827,640 shares

 

**

 

123,662,535

 

 

 

Fidelity Investments Growth Company Fund

 

1,471,897 shares

 

**

 

201,561,589

 

 

 

Franklin Templeton Global Total Return Fund Class R6

 

383,113 shares

 

**

 

4,401,965

 

 

 

Morgan Stanley Global Real Estate Portfolio Fund Class IS Shares

 

3,820,519 shares

 

**

 

41,299,813

 

 

 

Oakmark Fund Class I

 

1,199,824 shares

 

**

 

75,420,932

 

 

 

Vanguard Explorer Fund Admiral Shares

 

398,815 shares

 

**

 

29,815,456

 

 

 

Vanguard Extended Market Index Fund

 

544,747 shares

 

**

 

85,465,393

 

 

 

Vanguard Prime Cap Core Fund

 

2,645,793 shares

 

**

 

55,085,409

 

 

 

 

 

 

 

 

 

749,627,250

 

 

 

 

 

 

 

 

 

 

 

 

 

Common/Collective Investment Trust Funds:

 

 

 

 

 

 

 

 

 

AECOM Stable Value Fund

 

149,900,456 shares

 

**

 

149,900,456

 

 

 

Vanguard Employee Benefit Index

 

1,121,109 shares

 

**

 

112,110,880

 

 

 

Vanguard Target Trust Select Income

 

307,590 shares

 

**

 

9,113,899

 

 

 

Vanguard Target Trust Select 2010 Fund

 

328,436 shares

 

**

 

9,695,440

 

 

 

Vanguard Target Trust Select 2015 Fund

 

581,855 shares

 

**

 

17,007,635

 

 

 

Vanguard Target Trust Select 2020 Fund

 

2,171,638 shares

 

**

 

63,086,077

 

 

 

Vanguard Target Trust Select 2025 Fund

 

247,620 shares

 

**

 

7,153,738

 

 

 

Vanguard Target Trust Select 2030 Fund

 

1,946,416 shares

 

**

 

55,862,149

 

 

 

Vanguard Target Trust Select 2035 Fund

 

131,488 shares

 

**

 

3,751,347

 

 

 

Vanguard Target Trust Select 2040 Fund

 

1,228,248 shares

 

**

 

34,783,977

 

 

 

Vanguard Target Trust Select 2045 Fund

 

84,806 shares

 

**

 

2,400,860

 

 

 

Vanguard Target Trust Select 2050 Fund

 

360,585 shares

 

**

 

10,200,945

 

 

 

Vanguard Target Trust Select 2055 Fund

 

66,255 shares

 

**

 

1,873,042

 

 

 

Principal Diversified Real Asset

 

79,345 shares

 

**

 

732,354

 

 

 

 

 

 

 

 

 

477,672,799

 

 

 

 

 

 

 

 

 

 

 

*

 

Assets in Bank of America, N.A. Self-Directed Brokerage Accounts

 

Various investments, including registered investment companies, common stocks, ETFs and money market funds

 

**

 

136,146,152

 

 

 

 

 

 

 

 

 

 

 

 

 

Separately Managed Account Fund Investments:

 

 

 

 

 

 

 

 

 

AECOM Small Cap Value Fund

 

 

 

 

 

 

 

 

 

Common Stock

 

 

 

 

 

 

 

 

 

#Reorg/Furmanite Corp Stock Merger Team Inc

 

20,938 shares

 

**

 

139,447

 

 

 

First Horizon National Corp

 

42,379 shares

 

**

 

615,343

 

 

 

Actuant Corp Cl A

 

8,145 shares

 

**

 

195,154

 

 

 

Allscripts Healthcare Solutions Inc.

 

15,856 shares

 

**

 

243,865

 

 

 

Altra Industrial Motion Corp

 

11,576 shares

 

**

 

290,326

 

 

 

American Eagle Outfitters Inc.

 

25,508 shares

 

**

 

395,374

 

 

 

Argo Group International Holdings

 

12,374 shares

 

**

 

740,460

 

 

 

Ascena Retail Group Inc.

 

20,783 shares

 

**

 

204,713

 

 

 

Aspen Insurance Holdings

 

13,438 shares

 

**

 

649,055

 

 

 

Beacon Roofing Supply Inc.

 

11,402 shares

 

**

 

469,534

 

 

(Continued)

 

13



Table of Contents

 

AECOM RETIREMENT & SAVINGS PLAN

 

EIN#: 61-1088522                                          PLAN#: 055

FORM 5500, SCHEDULE H, PART IV, LINE 4i

SCHEDULE OF ASSETS (HELD AT END OF YEAR)

DECEMBER 31, 2015

 

(a)

 

(b)
Identity of Issue, Borrower, Lessor, or Similar Party

 

(c)
Description of Investment, Including Maturity Date,
Rate of Interest, Collateral, Par or Maturity Value

 

(d)
Cost

 

(e)
Current Value

 

 

 

AECOM Small Cap Value Fund (Continued)

 

 

 

 

 

 

 

 

 

Common Stock (Continued)

 

 

 

 

 

 

 

 

 

Boise Cascade Co.

 

9,908 shares

 

**

 

252,951

 

 

 

Boot Barn Holdings Inc.

 

9,674 shares

 

**

 

118,893

 

 

 

Brady Corp Class A

 

13,139 shares

 

**

 

301,934

 

 

 

Briggs & Stratton Corp

 

9,786 shares

 

**

 

169,298

 

 

 

Cabot Corp

 

5,701 shares

 

**

 

233,057

 

 

 

Career Education Corp

 

62,057 shares

 

**

 

225,267

 

 

 

Carrizo Oil & Gas Inc.

 

12,183 shares

 

**

 

360,373

 

 

 

Celadon Group Inc.

 

16,150 shares

 

**

 

159,724

 

 

 

Central Garden & Pet Co.

 

26,358 shares

 

**

 

358,469

 

 

 

Chicos FAS

 

25,576 shares

 

**

 

272,896

 

 

 

Ciber Inc.

 

56,213 shares

 

**

 

197,308

 

 

 

Cloud Peak Energy Inc

 

25,400 shares

 

**

 

52,832

 

 

 

Crocs Inc.

 

29,360 shares

 

**

 

300,646

 

 

 

Deckers Outdoor Corp

 

3,689 shares

 

**

 

174,121

 

 

 

DSW Inc.

 

6,573 shares

 

**

 

156,832

 

 

 

Eagle Materials Inc.

 

5,037 shares

 

**

 

304,386

 

 

 

Encore Wire Corp

 

6,789 shares

 

**

 

251,804

 

 

 

Endurance Specialty Holdings Ltd

 

8,558 shares

 

**

 

547,626

 

 

 

Fairchild Semiconductor International Inc.

 

21,954 shares

 

**

 

454,667

 

 

 

First Midwest Bancorp Inc.

 

30,414 shares

 

**

 

560,530

 

 

 

Flushing Financial Corp.

 

26,335 shares

 

**

 

569,889

 

 

 

Formfactor Inc.

 

21,591 shares

 

**

 

194,319

 

 

 

FTI Consulting Inc.

 

9,168 shares

 

**

 

317,763

 

 

 

Glatfelter

 

17,042 shares

 

**

 

314,254

 

 

 

Global Eagle Entertainment Inc.

 

21,199 shares

 

**

 

209,234

 

 

 

Harsco Corp

 

17,264 shares

 

**

 

136,040

 

 

 

HNI Corporation

 

9,793 shares

 

**

 

353,136

 

 

 

Ingram Micro Inc.

 

13,916 shares

 

**

 

422,768

 

 

 

Insight Enterprises Inc.

 

15,261 shares

 

**

 

383,356

 

 

 

Integrated Device Technology Inc.

 

7,429 shares

 

**

 

195,754

 

 

 

Investment Technology Group Inc.

 

26,017 shares

 

**

 

442,809

 

 

 

Itron Inc.

 

8,151 shares

 

**

 

294,903

 

 

 

Jabil Circuit Inc.

 

16,147 shares

 

**

 

376,064

 

 

 

James River Group Holdings

 

10,251 shares

 

**

 

343,819

 

 

 

Kraton Performance Polymers Inc.

 

18,053 shares

 

**

 

299,860

 

 

 

Lattice Semiconductor Corp

 

48,772 shares

 

**

 

315,555

 

 

 

LGI Homes Inc.

 

7,660 shares

 

**

 

186,368

 

 

 

Littelfuse Inc.

 

1,706 shares

 

**

 

182,559

 

 

 

LSB Industries Inc.

 

5,521 shares

 

**

 

40,027

 

 

 

Mack-Cali Realty Corp

 

11,699 shares

 

**

 

273,172

 

 

 

MDU Resources Group Inc.

 

14,225 shares

 

**

 

260,602

 

 

 

Merit Medical Systems Inc.

 

8,462 shares

 

**

 

157,309

 

 

 

Modine Manufacturing Co

 

44,360 shares

 

**

 

401,458

 

 

 

MRC Global Inc.

 

12,909 shares

 

**

 

166,526

 

 

 

MSA Safety Inc.

 

4,756 shares

 

**

 

206,743

 

 

 

Myriad Genetics Inc.

 

9,512 shares

 

**

 

410,538

 

 

 

National Retail Properties Inc.

 

11,384 shares

 

**

 

455,929

 

 

 

Navigators Group Inc.

 

9,537 shares

 

**

 

818,179

 

 

 

On Semiconductor Corp

 

45,412 shares

 

**

 

445,038

 

 

(Continued)

 

14



Table of Contents

 

AECOM RETIREMENT & SAVINGS PLAN

 

EIN#: 61-1088522                                          PLAN#: 055

FORM 5500, SCHEDULE H, PART IV, LINE 4i

SCHEDULE OF ASSETS (HELD AT END OF YEAR)

DECEMBER 31, 2015

 

(a)

 

(b)
Identity of Issue, Borrower, Lessor, or Similar Party

 

(c)
Description of Investment, Including Maturity Date,
Rate of Interest, Collateral, Par or Maturity Value

 

(d)
Cost

 

(e)
Current Value

 

 

 

AECOM Small Cap Value Fund (Continued)

 

 

 

 

 

 

 

 

 

Common Stock (Continued)

 

 

 

 

 

 

 

 

 

Piedmont Nat Gas Inc.

 

6,011 shares

 

**

 

342,747

 

 

 

Parkway Properties Inc.

 

23,345 shares

 

**

 

364,882

 

 

 

Popular Inc.

 

21,363 shares

 

**

 

605,427

 

 

 

Portland General Electric Co

 

15,592 shares

 

**

 

567,081

 

 

 

Primoris Services Corp

 

8,976 shares

 

**

 

197,741

 

 

 

QLogic Corp

 

39,628 shares

 

**

 

483,462

 

 

 

Renasant Corp

 

19,382 shares

 

**

 

666,935

 

 

 

Saia Inc.

 

7,799 shares

 

**

 

173,528

 

 

 

Selective Insurance Group Inc.

 

11,567 shares

 

**

 

388,420

 

 

 

Semtech Corp

 

11,563 shares

 

**

 

218,772

 

 

 

Skullcandy Inc.

 

26,565 shares

 

**

 

125,652

 

 

 

Southwest Gas Corp

 

5,404 shares

 

**

 

298,085

 

 

 

Ultratech Inc.

 

7,237 shares

 

**

 

143,437

 

 

 

Unitil Corp

 

9,719 shares

 

**

 

348,718

 

 

 

Washington Federal Inc.

 

18,371 shares

 

**

 

437,781

 

 

 

Wesco Aircraft Holdings Inc.

 

13,065 shares

 

**

 

156,388

 

 

 

Wesco International Inc.

 

3,066 shares

 

**

 

133,923

 

 

 

Westar Energy Inc.

 

13,561 shares

 

**

 

575,122

 

 

 

WSFS Financial Corp

 

24,203 shares

 

**

 

783,209

 

 

 

Securities in transit

 

 

 

 

 

(18,292

)

*

 

Northern Trust Company Coltv Short Term Investment Fund

 

303,306 shares

 

 

 

303,306

 

 

 

Total AECOM Small Cap Value Fund

 

 

 

 

 

25,867,180

 

 

 

 

 

 

 

 

 

 

 

 

 

AECOM Dividend Growth Fund

 

 

 

 

 

 

 

 

 

Common Stock

 

 

 

 

 

 

 

 

 

Canadian Natural Resources Ltd

 

27,700 shares

 

**

 

604,691

 

 

 

Nestle S A

 

9,800 shares

 

**

 

729,316

 

 

 

Diageo Plc Sponsored Adr

 

7,200 shares

 

**

 

785,304

 

 

 

#Reorg/Chubb Corp

 

10,400 shares

 

**

 

1,379,456

 

 

 

#Reorg/Dentsly Sirona Inc.

 

19,500 shares

 

**

 

1,186,575

 

 

 

#Reorg/S&P Global Inc.

 

5,000 shares

 

**

 

492,900

 

 

 

Fifth Third Bancorp

 

21,700 shares

 

**

 

436,170

 

 

 

Accenture Plc

 

13,400 shares

 

**

 

1,400,300

 

 

 

Agilent Technologies Inc.

 

22,600 shares

 

**

 

944,906

 

 

 

Airgas Inc.

 

2,800 shares

 

**

 

387,296

 

 

 

American Express Co

 

11,900 shares

 

**

 

827,645

 

 

 

American Tower Corp

 

9,100 shares

 

**

 

882,245

 

 

 

Amerisourcebergen Corp

 

4,900 shares

 

**

 

508,179

 

 

 

Aon Plc

 

12,300 shares

 

**

 

1,134,183

 

 

 

Apple Inc.

 

8,300 shares

 

**

 

873,658

 

 

 

Ashland Inc.

 

4,100 shares

 

**

 

421,070

 

 

 

Atmos Energy Corp

 

15,000 shares

 

**

 

945,600

 

 

 

Automatic Data Processing Inc.

 

13,600 shares

 

**

 

1,152,192

 

 

 

Bank New York Mellon Corp

 

36,000 shares

 

**

 

1,483,920

 

 

 

Becton Dickinson & Co

 

12,700 shares

 

**

 

1,956,943

 

 

 

C H Robinson Worldwide Inc.

 

3,400 shares

 

**

 

210,868

 

 

 

Carnival Corp

 

13,200 shares

 

**

 

719,136

 

 

(Continued)

 

15



Table of Contents

 

AECOM RETIREMENT & SAVINGS PLAN

 

EIN#: 61-1088522                                          PLAN#: 055

FORM 5500, SCHEDULE H, PART IV, LINE 4i

SCHEDULE OF ASSETS (HELD AT END OF YEAR)

DECEMBER 31, 2015

 

(a)

 

(b)
Identity of Issue, Borrower, Lessor, or Similar Party

 

(c)
Description of Investment, Including Maturity Date,
Rate of Interest, Collateral, Par or Maturity Value

 

(d)
Cost

 

(e)
Current Value

 

 

 

AECOM Dividend Growth Fund (Continued)

 

 

 

 

 

 

 

 

 

Common Stock (Continued)

 

 

 

 

 

 

 

 

 

Cigna Corporation

 

4,000 shares

 

**

 

585,320

 

 

 

Cisco Systems Inc.

 

17,000 shares

 

**

 

461,635

 

 

 

Coca Cola Co

 

8,300 shares

 

**

 

356,568

 

 

 

Colgate-Palmolive Co

 

5,500 shares

 

**

 

366,410

 

 

 

Comcast Corp

 

30,300 shares

 

**

 

1,709,829

 

 

 

Comerica Inc.

 

7,700 shares

 

**

 

322,091

 

 

 

Costco Wholesale Corp

 

3,000 shares

 

**

 

484,500

 

 

 

Crown Castle International Corp

 

17,900 shares

 

**

 

1,547,455

 

 

 

Danaher Corp

 

26,177 shares

 

**

 

2,431,320

 

 

 

Dollar General Corp

 

10,200 shares

 

**

 

733,074

 

 

 

DTE Energy Co

 

3,400 shares

 

**

 

272,646

 

 

 

Ecolab Inc.

 

5,100 shares

 

**

 

583,338

 

 

 

Edison International

 

20,800 shares

 

**

 

1,231,568

 

 

 

EQT Corp

 

6,800 shares

 

**

 

354,484

 

 

 

Equifax Inc.

 

8,100 shares

 

**

 

902,097

 

 

 

Exxon Mobil Corp

 

12,400 shares

 

**

 

966,580

 

 

 

Fidelity National Information Services Inc.

 

10,200 shares

 

**

 

618,120

 

 

 

FirstEnergy Corp

 

21,500 shares

 

**

 

682,195

 

 

 

Flowserve Corp

 

10,900 shares

 

**

 

458,672

 

 

 

General Electric Company

 

89,300 shares

 

**

 

2,781,695

 

 

 

General Growth Properties Inc.

 

32,900 shares

 

**

 

895,209

 

 

 

General Mills Inc.

 

11,600 shares

 

**

 

668,856

 

 

 

Hilton Worldwide Holdings Inc.

 

22,700 shares

 

**

 

485,780

 

 

 

Home Depot Inc.

 

11,300 shares

 

**

 

1,494,425

 

 

 

Illinois Tool Works Inc.

 

10,400 shares

 

**

 

963,872

 

 

 

Iron Mountain Inc.

 

13,400 shares

 

**

 

361,934

 

 

 

Johnson & Johnson

 

9,200 shares

 

**

 

945,024

 

 

 

Johnson Control Inc.

 

17,700 shares

 

**

 

698,973

 

 

 

JPMorgan Chase & Co

 

31,400 shares

 

**

 

2,073,342

 

 

 

L Brands Inc.

 

8,700 shares

 

**

 

833,634

 

 

 

Marriott Intl Inc.

 

7,200 shares

 

**

 

482,688

 

 

 

Marsh & McLennan Co

 

24,100 shares

 

**

 

1,336,345

 

 

 

Mattel Inc.

 

22,400 shares

 

**

 

608,608

 

 

 

McCormick & Co Inc.

 

4,600 shares

 

**

 

393,576

 

 

 

McDonalds Corp

 

4,400 shares

 

**

 

519,816

 

 

 

McKesson Corp

 

7,200 shares

 

**

 

1,420,056

 

 

 

Medtronic Plc

 

19,890 shares

 

**

 

1,529,939

 

 

 

Merck & Co Inc.

 

23,000 shares

 

**

 

1,214,860

 

 

 

MGM Resorts International

 

23,300 shares

 

**

 

529,376

 

 

 

Microchip Technology Inc.

 

7,900 shares

 

**

 

367,666

 

 

 

Microsoft Corp Com

 

43,600 shares

 

**

 

2,418,928

 

 

 

Mondelez International Inc.

 

19,800 shares

 

**

 

887,832

 

 

 

Morgan Stanley

 

26,000 shares

 

**

 

827,060

 

 

 

Nike Inc.

 

8,400 shares

 

**

 

525,000

 

 

 

Norfolk Southern Corp

 

2,000 shares

 

**

 

169,180

 

 

 

Northern Trust Corp

 

7,200 shares

 

**

 

519,048

 

 

 

Occidental Petroleum Corp

 

16,200 shares

 

**

 

1,095,282

 

 

 

Omnicom Group Inc.

 

14,800 shares

 

**

 

1,119,768

 

 

 

PepsiCo Inc.

 

21,600 shares

 

**

 

2,158,272

 

 

(Continued)

 

16



Table of Contents

 

AECOM RETIREMENT & SAVINGS PLAN

 

EIN#: 61-1088522                                          PLAN#: 055

FORM 5500, SCHEDULE H, PART IV, LINE 4i

SCHEDULE OF ASSETS (HELD AT END OF YEAR)

DECEMBER 31, 2015

 

(a)

 

(b)
Identity of Issue, Borrower, Lessor, or Similar Party

 

(c)
Description of Investment, Including Maturity Date,
Rate of Interest, Collateral, Par or Maturity Value

 

(d)
Cost

 

(e)
Current Value

 

 

 

AECOM Dividend Growth Fund (Continued)

 

 

 

 

 

 

 

 

 

Common Stock (Continued)

 

 

 

 

 

 

 

 

 

Pfizer Inc.

 

75,500 shares

 

**

 

2,437,140

 

 

 

Philip Morris International

 

17,200 shares

 

**

 

1,512,052

 

 

 

Praxair Inc.

 

3,400 shares

 

**

 

348,160

 

 

 

Procter & Gamble

 

3,400 shares

 

**

 

269,994

 

 

 

Rockwell Collins Inc.

 

4,600 shares

 

**

 

424,580

 

 

 

Roper Technologies, Inc.

 

9,000 shares

 

**

 

1,708,110

 

 

 

Ross Stores Inc.

 

23,700 shares

 

**

 

1,275,297

 

 

 

RPM International Inc.

 

22,000 shares

 

**

 

969,320

 

 

 

Schlumberger Ltd

 

3,900 shares

 

**

 

272,025

 

 

 

Sempra Energy Inc.

 

1,400 shares

 

**

 

131,614

 

 

 

Sherwin-Williams Co

 

1,300 shares

 

**

 

337,480

 

 

 

Spectra Energy Corp

 

10,300 shares

 

**

 

246,582

 

 

 

Stanley Black & Decker Inc.

 

2,500 shares

 

**

 

266,825

 

 

 

State Street Corp

 

17,200 shares

 

**

 

1,141,392

 

 

 

Stryker Corp

 

9,000 shares

 

**

 

836,460

 

 

 

TDAmeritrade Holding Corp

 

9,798 shares

 

**

 

340,089

 

 

 

TE Connectivity Ltd

 

9,800 shares

 

**

 

633,178

 

 

 

Texas Instruments Inc

 

21,900 shares

 

**

 

1,200,339

 

 

 

Thermo Fisher Corp

 

13,200 shares

 

**

 

1,872,420

 

 

 

Time Warner Inc.

 

7,100 shares

 

**

 

459,157

 

 

 

Tractor Supply Co

 

5,600 shares

 

**

 

478,800

 

 

 

Tyco International Plc

 

34,800 shares

 

**

 

1,109,772

 

 

 

Union Pacific Corp

 

5,100 shares

 

**

 

398,820

 

 

 

United Parcel Svc Inc.

 

7,000 shares

 

**

 

673,610

 

 

 

United Technologies Corp

 

6,000 shares

 

**

 

576,420

 

 

 

UnitedHealth Group Inc.

 

17,400 shares

 

**

 

2,046,936

 

 

 

US Bancorp

 

23,200 shares

 

**

 

989,944

 

 

 

Visa Inc.

 

29,700 shares

 

**

 

2,303,235

 

 

 

Walgreens Boots Alliance Inc.

 

14,200 shares

 

**

 

1,209,201

 

 

 

Walt Disney Co

 

10,600 shares

 

**

 

1,113,848

 

 

 

WEC Energy Group Inc.

 

5,700 shares

 

**

 

292,467

 

 

 

Wells Fargo & Co

 

25,100 shares

 

**

 

1,364,436

 

 

 

Xilinx Inc

 

9,800 shares

 

**

 

460,306

 

 

 

Xl Group Plc

 

24,600 shares

 

**

 

963,828

 

 

 

Zoetis Inc.

 

17,100 shares

 

**

 

819,432

 

 

 

Securities in transit

 

 

 

 

 

(66,004

)

 

 

Reserve Investment Funds, Inc.

 

3,519,509 shares

 

**

 

3,519,509

 

*

 

Northern Trust Company Coltv Short Term Investment Fund

 

434,410 shares

 

**

 

434,411

 

 

Total AECOM Dividend Growth Fund

 

 

 

 

 

100,227,684

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

AECOM Fixed Income Fund

 

 

 

 

 

 

 

 

 

 

 

 

 

Bonds

 

 

 

 

 

 

 

 

 

 

 

 

 

United States Treasury Notes

 

1.63

%

11/30/2020

 

4,685,000 shares

 

**

 

4,657,180

 

 

 

United States Treasury Notes Dtd 10/31/2012

 

0.75

%

10/31/2017

 

8,385,000 shares

 

**

 

8,340,459

 

 

 

United States Treasury Nts Dtd 10/31/2015

 

1.38

%

10/31/2020

 

4,820,000 shares

 

**

 

4,734,898

 

 

 

United States Treasury Nts Dtd 11/15/2015

 

2.25

%

11/15/2025

 

4,385,000 shares

 

**

 

4,375,235

 

 

 

United States Treasury Nts Dtd 11/30/2015

 

0.88

%

11/30/2017

 

1,120,000 shares

 

**

 

1,116,762

 

 

 

US Treasury N/B

 

3.00

%

11/15/2045

 

1,290,000 shares

 

**

 

1,286,120

 

 

 

FNMA FLTG RT 10-05-2017

 

0.28

%

10/5/2017

 

950,000 shares

 

**

 

948,174

 

 

(Continued)

 

17



Table of Contents

 

AECOM RETIREMENT & SAVINGS PLAN

 

EIN#: 61-1088522                                          PLAN#: 055

FORM 5500, SCHEDULE H, PART IV, LINE 4i

SCHEDULE OF ASSETS (HELD AT END OF YEAR)

DECEMBER 31, 2015

 

(a)

 

(b)
Identity of Issue, Borrower, Lessor, or Similar Party

 

(c)
Description of Investment, Including Maturity Date,
Rate of Interest, Collateral, Par or Maturity Value

 

(d)
Cost

 

(e)
Current Value

 

 

 

AECOM Fixed Income Fund (Continued)

 

 

 

 

 

 

 

 

 

 

 

 

 

Bonds (Continued)

 

 

 

 

 

 

 

 

 

 

 

 

 

New York NY City Transitional Finance

 

5.51

%

8/1/2037

 

200,000 shares

 

**

 

240,420

 

 

 

University California Revs

 

3.93

%

5/15/2045

 

175,000 shares

 

**

 

170,436

 

 

 

Pvtpl Cr Suisse Group Fdg Guernsey Ltd

 

3.80

%

9/15/2022

 

140,000 shares

 

**

 

139,890

 

 

 

Pvtpl Ubs Group Fdg Jersey Ltd

 

4.13

%

9/24/2025

 

95,000 shares

 

**

 

94,901

 

 

 

UBS Ag, Stamford

 

1.38

%

6/1/2017

 

350,000 shares

 

**

 

348,332

 

 

 

Barclays Plc

 

5.25

%

8/17/2045

 

95,000 shares

 

**

 

95,692

 

 

 

Pvtpl Lloyds Banking Group Plc

 

5.30

%

12/1/2045

 

245,000 shares

 

**

 

248,619

 

 

 

Royal Bank Scotland

 

4.38

%

3/16/2016

 

400,000 shares

 

**

 

402,610

 

 

 

Shell International Financial

 

4.38

%

5/11/2045

 

95,000 shares

 

**

 

89,686

 

 

 

Abbvie Inc

 

1.80

%

5/14/2018

 

300,000 shares

 

**

 

298,619

 

 

 

Actavis Fdg Scs

 

4.75

%

3/15/2045

 

130,000 shares

 

**

 

126,756

 

 

 

Amgen Inc

 

4.40

%

5/1/2045

 

125,000 shares

 

**

 

115,815

 

 

 

Appalachian Power Company

 

5.95

%

5/15/2033

 

300,000 shares

 

**

 

326,540

 

 

 

AT&T Inc.

 

4.75

%

5/15/2046

 

245,000 shares

 

**

 

224,321

 

 

 

AT&T Inc, Sr Note Floating Rate

 

0.74

%

2/12/2016

 

150,000 shares

 

**

 

149,934

 

 

 

Bank America Corp

 

4.75

%

4/21/2045

 

200,000 shares

 

**

 

192,233

 

 

 

Baylor Scott

 

4.19

%

11/15/2045

 

200,000 shares

 

**

 

189,138

 

 

 

Berkshire Hathaway

 

4.40

%

5/15/2042

 

260,000 shares

 

**

 

257,432

 

 

 

Biogen Inc.

 

5.20

%

9/15/2045

 

142,000 shares

 

**

 

142,054

 

 

 

Biomed Realty L P

 

3.85

%

4/15/2016

 

450,000 shares

 

**

 

451,380

 

 

 

Bank America N A Charlotte N C

 

5.30

%

3/15/2017

 

550,000 shares

 

**

 

572,151

 

 

 

Capital 1 Bank USA National

 

1.20

%

2/13/2017

 

300,000 shares

 

**

 

298,522

 

 

 

Celgene Corp

 

5.00

%

8/15/2045

 

150,000 shares

 

**

 

150,583

 

 

 

Chase Manhattan Corp

 

0.95

%

8/1/2028

 

250,000 shares

 

**

 

211,250

 

 

 

CVS Health Corp

 

3.88

%

7/20/2025

 

140,000 shares

 

**

 

142,881

 

 

 

Developers

 

9.63

%

3/15/2016

 

200,000 shares

 

**

 

203,123

 

 

 

Duke Energy

 

4.25

%

12/15/2041

 

300,000 shares

 

**

 

299,025

 

 

 

Energy Transfer

 

4.90

%

3/15/2035

 

300,000 shares

 

**

 

218,133

 

 

 

Energy Transfer

 

5.50

%

6/1/2027

 

45,000 shares

 

**

 

34,200

 

 

 

Energy