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Operating Information by Segment and Geographic Area | 9 Months Ended
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Sep. 30, 2021
Segment Reporting [Abstract] |
Operating Information by Segment and Geographic Area | Operating Information by Segment and Geographic Area During the first quarter of 2021, we changed the composition of our segments to implement our new strategy and to pursue opportunities in our designated markets. We now report our operating results as follows: Energy Solutions, Urban Solutions, Mission Solutions and Other. Segment operating information and assets for 2020 have been recast to conform to these changes. Energy Solutions focuses on energy transition, chemicals, LNG, and traditional oil and gas opportunities. The segment is pursuing new opportunities emerging in the energy transition market including carbon capture, green chemicals, hydrogen, biofuels and other low carbon energy sources. The segment also continues to provide EPC services for the oil, gas and petrochemical industries. Urban Solutions focuses on mining, metals, advanced technologies, manufacturing, life sciences, infrastructure and professional staffing services. Mission Solutions focuses on federal agencies across the U.S. government and select international opportunities. These include, among others, the DOE, the Department of Defense, the Federal Emergency Management Agency and intelligence agencies. Mission Solutions includes the Radford and Warren projects which were previously reported in the Other segment. Other now includes only the operations of NuScale.
|  | 3ME September 30, |  | 9ME September 30,
(in millions) |  | 2021 |  | 2020 |  | 2021 |  | 2020
Revenue |  |  |  |  |  |  |  |
Energy Solutions |  | $ | 1,365.4 |  |  | $ | 1,337.9 |  |  | $ | 3,675.4 |  |  | $ | 4,195.2 |
Urban Solutions |  | 1,014.7 |  |  | 1,329.4 |  |  | 3,419.2 |  |  | 4,434.2 |
Mission Solutions |  | 723.0 |  |  | 789.6 |  |  | 2,183.4 |  |  | 2,260.2 |
Total revenue |  | $ | 3,103.1 |  |  | $ | 3,456.9 |  |  | $ | 9,278.0 |  |  | $ | 10,889.6 |
Segment profit (loss) |  |  |  |  |  |  |  |
Energy Solutions |  | $ | 72.5 |  |  | $ | 96.2 |  |  | $ | 183.9 |  |  | $ | 133.0 |
Urban Solutions |  | 17.8 |  |  | 29.3 |  |  | (20.8) |  |  | 119.2 |
Mission Solutions |  | 27.9 |  |  | 24.5 |  |  | 116.5 |  |  | 66.3 |
Other |  | (8.2) |  |  | (21.6) |  |  | (42.4) |  |  | (62.9) |
Total segment profit (loss) |  | $ | 110.0 |  |  | $ | 128.4 |  |  | $ | 237.2 |  |  | $ | 255.6 |
G&A |  | (42.4) |  |  | (36.7) |  |  | (139.4) |  |  | (112.9) |
Impairment, restructuring and other exit costs |  | — |  |  | — |  |  | (26.4) |  |  | (106.2) |
Foreign currency gain (loss) |  | 37.5 |  |  | (29.8) |  |  | (4.2) |  |  | 16.2 |
Interest income (expense), net |  | (31.4) |  |  | (11.9) |  |  | (59.3) |  |  | (26.9) |
Earnings (loss) from Cont Ops attributable to NCI |  | (3.5) |  |  | 4.2 |  |  | 21.5 |  |  | 19.7 |
Earnings (loss) from Cont Ops before taxes |  | $ | 70.2 |  |  | $ | 54.2 |  |  | $ | 29.4 |  |  | $ | 45.5 |
Intercompany revenue for our professional staffing business, excluded from revenue above |  | $ | 60.4 |  |  | $ | 60.6 |  |  | $ | 198.9 |  |  | $ | 199.7 |
The following describes material changes to estimates impacting segment results: Energy Solutions. Segment profit for the 2021 Period included forecast revisions resulting from the negotiation of change orders, scope increases and cost improvements across numerous projects. Urban Solutions. Segment profit for the 2021 Quarter and 2021 Period included forecast revisions for schedule delays and productivity on a light rail project. Segment profit for the 2021 Period also included forecast revisions for procurement and subcontractor cost growth, delays and disruptions in schedule of a legacy infrastructure project, resulting in a charge of $138 million (or $0.72 per share). We believe that these cost growth factors may be at least partially recoverable under the contract. However, we expect that it will require several quarters to analyze recoverability and negotiate with our client before recognizing incremental revenue for these factors. Mission Solutions. Segment profit for the 2021 Period included forecast revisions for higher than anticipated performance-based fees and the release of COVID cost reserves. Other. During the 2021 Period, NuScale received $193 million in capital contributions from outside investors. As of September 30, 2021, Fluor had an approximate 80% ownership in NuScale. Fluor and its advisors continue to engage with potential investors and capital providers to fund NuScale's path to commercialization. NuScale expenses included in the determination of segment loss were as follows:
|  | 3ME September 30, |  | 9ME September 30,
(in millions) |  | 2021 |  | 2020 |  | 2021 |  | 2020
NuScale expenses |  | $ | (42.9) |  |  | $ | (43.3) |  |  | $ | (122.6) |  |  | $ | (119.2) |
Less: DOE reimbursable expenses |  | 18.1 |  |  | 20.4 |  |  | 49.9 |  |  | 53.8 |
NuScale expenses, net |  | (24.8) |  |  | (22.9) |  |  | (72.7) |  |  | (65.4) |
Less: Attributable to NCI |  | 16.6 |  |  | 1.3 |  |  | 30.3 |  |  | 2.5 |
Fluor segment loss |  | $ | (8.2) |  |  | $ | (21.6) |  |  | $ | (42.4) |  |  | $ | (62.9) |
Total assets by segment are as follows:
(in millions) |  | September 30, 2021 |  | December 31, 2020
Energy Solutions |  | $ | 1,196.2 |  |  | $ | 1,010.9 |
Urban Solutions |  | 1,110.4 |  |  | 1,122.5 |
Mission Solutions |  | 629.0 |  |  | 575.8 |
Other |  | 38.5 |  |  | 37.8 |
Revenue by project location follows:
|  | 3ME September 30, |  | 9ME September 30,
(in millions) |  | 2021 |  | 2020 |  | 2021 |  | 2020
North America |  | $ | 2,023.6 |  |  | $ | 2,320.6 |  |  | $ | 6,058.9 |  |  | $ | 7,079.8 |
Asia Pacific (includes Australia) |  | 255.3 |  |  | 329.5 |  |  | 1,001.4 |  |  | 980.9 |
Europe |  | 417.7 |  |  | 491.3 |  |  | 1,052.3 |  |  | 1,594.4 |
Central and South America |  | 337.4 |  |  | 190.9 |  |  | 904.8 |  |  | 823.7 |
Middle East and Africa |  | 69.1 |  |  | 124.6 |  |  | 260.6 |  |  | 410.8 |
Total revenue |  | $ | 3,103.1 |  |  | $ | 3,456.9 |  |  | $ | 9,278.0 |  |  | $ | 10,889.6 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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