v2.4.0.8

Comprehensive Income (Tables) | 9 Months Ended
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Sep. 30, 2013
Comprehensive Income |
Schedule of tax effects of the components of other comprehensive income | The tax effects of the components of other comprehensive income (loss) (“OCI”) for the three months ended September 30, 2013 and 2012 are as follows:
|  | Three Months Ended |  | Three Months Ended |
|  | September 30, 2013 |  | September 30, 2012 |
|  |  |  | Tax |  |  |  |  |  |  |  |  |
|  | Before-Tax |  | Benefit |  | Net-of-Tax |  | Before-Tax |  | Tax |  | Net-of-Tax |
(in thousands) |  | Amount |  | (Expense) |  | Amount |  | Amount |  | Expense |  | Amount |
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation adjustment |  | $ | 42,074 |  | $ | (15,882 | ) | $ | 26,192 |  | $ | 38,768 |  | $ | (14,600 | ) | $ | 24,168 |
Ownership share of equity method investees’ other comprehensive income |  | 3,118 |  | (856 | ) | 2,262 |  | 165 |  | (32 | ) | 133 |
Defined benefit pension and postretirement plan adjustments |  | (6,472 | ) | 2,427 |  | (4,045 | ) | 1,643 |  | (616 | ) | 1,027 |
Unrealized gain on derivative contracts |  | 1,700 |  | (685 | ) | 1,015 |  | 693 |  | (281 | ) | 412 |
Unrealized gain on debt securities |  | 585 |  | (220 | ) | 365 |  | 630 |  | (237 | ) | 393 |
Total other comprehensive income |  | 41,005 |  | (15,216 | ) | 25,789 |  | 41,899 |  | (15,766 | ) | 26,133 |
Less: Other comprehensive loss attributable to noncontrolling interests |  | (403 | ) | — |  | (403 | ) | (250 | ) | — |  | (250 | )
Other comprehensive income attributable to Fluor Corporation |  | $ | 41,408 |  | $ | (15,216 | ) | $ | 26,192 |  | $ | 42,149 |  | $ | (15,766 | ) | $ | 26,383 |
The tax effects of the components of OCI for the nine months ended September 30, 2013 and 2012 are as follows:
|  | Nine Months Ended |  | Nine Months Ended |
|  | September 30, 2013 |  | September 30, 2012 |
|  |  |  | Tax |  |  |  |  |  |  |  |  |
|  | Before-Tax |  | Benefit |  | Net-of-Tax |  | Before-Tax |  | Tax |  | Net-of-Tax |
(in thousands) |  | Amount |  | (Expense) |  | Amount |  | Amount |  | Expense |  | Amount |
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation adjustment |  | $ | (48,753 | ) | $ | 18,198 |  | $ | (30,555 | ) | $ | 43,922 |  | $ | (16,506 | ) | $ | 27,416 |
Ownership share of equity method investees’ other comprehensive income (loss) |  | 11,471 |  | (3,118 | ) | 8,353 |  | (1,138 | ) | (218 | ) | (1,356 | )
Defined benefit pension and postretirement plan adjustments |  | 7,648 |  | (2,868 | ) | 4,780 |  | 10,187 |  | (3,820 | ) | 6,367 |
Unrealized gain (loss) on derivative contracts |  | (1,247 | ) | 420 |  | (827 | ) | 3,465 |  | (1,464 | ) | 2,001 |
Unrealized gain (loss) on debt securities |  | (1,170 | ) | 438 |  | (732 | ) | 456 |  | (171 | ) | 285 |
Total other comprehensive income (loss) |  | (32,051 | ) | 13,070 |  | (18,981 | ) | 56,892 |  | (22,179 | ) | 34,713 |
Less: Other comprehensive loss attributable to noncontrolling interests |  | (350 | ) | — |  | (350 | ) | (587 | ) | — |  | (587 | )
Other comprehensive income (loss) attributable to Fluor Corporation |  | $ | (31,701 | ) | $ | 13,070 |  | $ | (18,631 | ) | $ | 57,479 |  | $ | (22,179 | ) | $ | 35,300 |
Schedule of changes in AOCI balances by component (after-tax) | The changes in AOCI balances by component (after-tax) for the three months ended September 30, 2013 are as follows:
(in thousands) |  | Foreign Currency Translation |  | Ownership Share of Equity Method Investees’ Other Comprehensive Income (Loss) |  | Defined Benefit Pension and Postretirement Plans |  | Unrealized Gain (Loss) on Derivative Contracts |  | Unrealized Gain (Loss) on Available- for-Sale Securities |  | Accumulated Other Comprehensive Income (Loss), Net |
Attributable to Fluor Corporation: |  |  |  |  |  |  |  |  |  |  |  |  |
Balance as of June 30, 2013 |  | $ | (10,902 | ) | $ | (36,928 | ) | $ | (243,899 | ) | $ | (10,801 | ) | $ | (143 | ) | $ | (302,673 | )
Other comprehensive income (loss) before reclassifications |  | 26,471 |  | 2,262 |  | (6,057 | ) | (443 | ) | 367 |  | 22,600 |
Amounts reclassified from AOCI |  | — |  | — |  | 2,012 |  | 1,582 |  | (2 | ) | 3,592 |
Net other comprehensive income (loss) |  | 26,471 |  | 2,262 |  | (4,045 | ) | 1,139 |  | 365 |  | 26,192 |
Balance as of September 30, 2013 |  | $ | 15,569 |  | $ | (34,666 | ) | $ | (247,944 | ) | $ | (9,662 | ) | $ | 222 |  | $ | (276,481 | )
Attributable to Noncontrolling Interests: |  |  |  |  |  |  |  |  |  |  |  |  |
Balance as of June 30, 2013 |  | $ | 8,777 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 8,777 |
Other comprehensive loss before reclassifications |  | (279 | ) | — |  | — |  | (124 | ) | — |  | (403 | )
Amounts reclassified from AOCI |  | — |  | — |  | — |  | — |  | — |  | — |
Net other comprehensive loss |  | (279 | ) | — |  | — |  | (124 | ) | — |  | (403 | )
Balance as of September 30, 2013 |  | $ | 8,498 |  | $ | — |  | $ | — |  | $ | (124 | ) | $ | — |  | $ | 8,374 |
The changes in AOCI balances by component (after-tax) for the nine months ended as of September 30, 2013 are as follows:
(in thousands) |  | Foreign Currency Translation |  | Ownership Share of Equity Method Investees’ Other Comprehensive Income (Loss) |  | Defined Benefit Pension and Postretirement Plans |  | Unrealized Gain (Loss) on Derivative Contracts |  | Unrealized Gain (Loss) on Available- for-Sale Securities |  | Accumulated Other Comprehensive Income (Loss), Net |
Attributable to Fluor Corporation: |  |  |  |  |  |  |  |  |  |  |  |  |
Balance as of December 31, 2012 |  | $ | 45,899 |  | $ | (43,019 | ) | $ | (252,724 | ) | $ | (8,960 | ) | $ | 954 |  | $ | (257,850 | )
Other comprehensive income (loss) before reclassifications |  | (30,330 | ) | 8,353 |  | (1,261 | ) | (2,883 | ) | (645 | ) | (26,766 | )
Amounts reclassified from AOCI |  | — |  | — |  | 6,041 |  | 2,181 |  | (87 | ) | 8,135 |
Net other comprehensive income (loss) |  | (30,330 | ) | 8,353 |  | 4,780 |  | (702 | ) | (732 | ) | (18,631 | )
Balance as of September 30, 2013 |  | $ | 15,569 |  | $ | (34,666 | ) | $ | (247,944 | ) | $ | (9,662 | ) | $ | 222 |  | $ | (276,481 | )
Attributable to Noncontrolling Interests: |  |  |  |  |  |  |  |  |  |  |  |  |
Balance as of December 31, 2012 |  | $ | 8,723 |  | $ | — |  | $ | — |  | $ | 1 |  | $ | — |  | $ | 8,724 |
Other comprehensive loss before reclassifications |  | (225 | ) | — |  | — |  | (124 | ) | — |  | (349 | )
Amounts reclassified from AOCI |  | — |  | — |  | — |  | (1 | ) | — |  | (1 | )
Net other comprehensive loss |  | (225 | ) | — |  | — |  | (125 | ) | — |  | (350 | )
Balance as of September 30, 2013 |  | $ | 8,498 |  | $ | — |  | $ | — |  | $ | (124 | ) | $ | — |  | $ | 8,374 |
Summary of significant items reclassified out of AOCI and the corresponding location and impact on the Condensed Consolidated Statement of Earnings |
|  | Location in Condensed |  | Three Months Ended |  | Nine Months Ended |
(in thousands) |  | Consolidated Statement of Earnings |  | September 30, 2013 |  | September 30, 2013 |
Component of AOCI: |  |  |  |  |  |  |
Defined benefit pension plan adjustments |  | Various accounts(1) |  | $ | (3,220 | ) | $ | (9,666 | )
Income tax benefit |  | Income tax expense |  | 1,208 |  | 3,625 |
Net of tax |  |  |  | $ | (2,012 | ) | $ | (6,041 | )
Unrealized loss on derivative contracts: |  |  |  |  |  |  |
Commodity contracts and foreign currency contracts |  | Total cost of revenue |  | $ | (2,112 | ) | $ | (2,237 | )
Interest rate contracts |  | Interest expense |  | (419 | ) | (1,258 | )
Income tax benefit |  | Income tax expense |  | 949 |  | 1,315 |
Net of tax |  |  |  | (1,582 | ) | (2,180 | )
Less: Noncontrolling interests |  | Net earnings attributable to noncontrolling interests |  | — |  | (1 | )
Net of tax and noncontrolling interests |  |  |  | $ | (1,582 | ) | $ | (2,181 | )
Unrealized gain on available-for-sale securities |  | Corporate general and administrative expense |  | $ | 3 |  | $ | 139 |
Income tax expense |  | Income tax expense |  | (1 | ) | (52 | )
Net of tax |  |  |  | $ | 2 |  | $ | 87 |
(1) Defined benefit pension plan adjustments were reclassified primarily to total cost of revenue and corporate general and administrative expense.

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- Definition Tabular disclosure of the components of accumulated other comprehensive income (loss). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 14A -URI http://asc.fasb.org/extlink&oid=28358780&loc=SL7669686-108580 + Details
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- Definition Tabular disclosure of components of comprehensive income (loss). Includes, but is not limited to, foreign currency translation adjustments, foreign currency transactions designated as economic hedges of a net investment in foreign entity, gain (loss) and prior service cost (credit) for pension plans and other postretirement benefit plans. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=28358780&loc=d3e526-108580 + Details
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