As part of the AECOM Sale Transactions, assumed the Legacy Projects and backlog that were started under AECOM. Legacy Projects revenue was $(2)M , a decline of $44M as the company works to complete these projects. As part of a settlement of a claim on a large Legacy Loss Project, we made a non-cash adjustment to revenue of $23M to reflect the settlement amount. See Recent Developments for additional details. Gross margin was $(34)M a decrease of $32M as compared to the three months ended June 30, 2023, primarily as a result of the $30 million impact of the settlement, projects winding down and additional cost overruns on a subset of these projects that have experienced significant cost overruns due to the COVID pandemic, design issues, legal costs and other factors.
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