v2.4.0.8

Comprehensive Income | 9 Months Ended
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Sep. 30, 2013
Comprehensive Income |
Comprehensive Income | (3) 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 |
In the first quarter of 2013, the company adopted ASU 2013-02, “Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income (“AOCI”),” which requires an entity to disclose additional information about reclassification adjustments, including (a) changes in AOCI balances by component and (b) significant items reclassified out of AOCI. 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 |
The significant items reclassified out of AOCI and the corresponding location in and impact on the Condensed Consolidated Statement of Earnings are as follows:
|  | 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 The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=28358780&loc=d3e637-108580 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 14 -URI http://asc.fasb.org/extlink&oid=28358780&loc=d3e681-108580 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=28358780&loc=d3e689-108580 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=28358780&loc=SL7669619-108580 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=28358780&loc=d3e640-108580 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 17 -URI http://asc.fasb.org/extlink&oid=28358780&loc=d3e716-108580 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 16 -URI http://asc.fasb.org/extlink&oid=28358780&loc=d3e709-108580 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Reclassification Adjustments -URI http://asc.fasb.org/extlink&oid=6522872 + Details
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