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Other Comprehensive Income (Loss) (Tables)

6 Months Ended

Jun. 30, 2022

Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]

Schedule of tax effects of components of other comprehensive income (loss)

The components of OCI follow:

						3ME June 30, 2022																		3ME June 30, 2021
(in millions)						Before-Tax Amount						Tax Benefit (Expense)						Net-of-Tax Amount						Before-Tax Amount						Tax Benefit (Expense)						Net-of-Tax Amount
OCI:
Foreign currency translation adjustments						$	(33)					$	—					$	(33)					$	(1)					$	—					$	(1)
Ownership share of equity method investees’ OCI						21						(4)						17						(1)						1						—
DB plan adjustments						—						—						—						1						—						1
Unrealized gain (loss) on hedges						(1)						—						(1)						1						(1)						—
Total OCI						(13)						(4)						(17)						—						—						—
Less: OCI attributable to NCI						1						—						1						—						—						—
OCI attributable to Fluor						$	(14)					$	(4)					$	(18)					$	—					$	—					$	—

						6ME June 30, 2022																		6ME June 30, 2021
(in millions)						Before-Tax Amount						Tax Benefit (Expense)						Net-of-Tax Amount						Before-Tax Amount						Tax Benefit (Expense)						Net-of-Tax Amount
OCI:
Foreign currency translation adjustments						$	(4)					$	—					$	(4)					$	1					$	—					$	1
Ownership share of equity method investees’ OCI						21						(3)						18						(3)						1						(2)
DB plan adjustments						1						—						1						2						1						3
Unrealized gain (loss) on hedges						(4)						1						(3)						(2)						—						(2)
Total OCI						14						(2)						12						(2)						2						—
Less: OCI attributable to NCI						1						—						1						—						—						—
OCI attributable to Fluor						$	13					$	(2)					$	11					$	(2)					$	2					$	—

Schedule of changes in accumulated other comprehensive income balances by component (after-tax)

The changes in AOCI balances follow:

(in millions)			Foreign Currency Translation						Ownership Share of Equity Method Investees’ OCI						DB Plans						Unrealized Gain (Loss) on Hedges						AOCI, Net
Attributable to Fluor:
Balance as of March 31, 2022			$	(270)					$	(55)					$	(17)					$	5					$	(337)
OCI before reclassifications			(34)						10						—						(4)						(28)
Amounts reclassified from AOCI			—						7						—						3						10
Net OCI			(34)						17						—						(1)						(18)
Balance as of June 30, 2022			$	(304)					$	(38)					$	(17)					$	4					$	(355)
Attributable to NCI:
Balance as of March 31, 2022			$	(3)					$	—					$	—					$	—					$	(3)
OCI before reclassifications			1						—						—						—						1
Amounts reclassified from AOCI			—						—						—						—						—
Net OCI			1						—						—						—						1
Balance as of June 30, 2022			$	(2)					$	—					$	—					$	—					$	(2)

(in millions)			Foreign Currency Translation						Ownership Share of Equity Method Investees’ OCI						DB Plans						Unrealized Gain (Loss) on Hedges						AOCI, Net
Attributable to Fluor:
Balance as of December 31, 2021			$	(299)					$	(56)					$	(18)					$	7					$	(366)
OCI before reclassifications			(5)						10						1						(2)						4
Amounts reclassified from AOCI			—						8						—						(1)						7
Net OCI			(5)						18						1						(3)						11
Balance as of June 30, 2022			$	(304)					$	(38)					$	(17)					$	4					$	(355)
Attributable to NCI:
Balance as of December 31, 2021			$	(3)					$	—					$	—					$	—					$	(3)
OCI before reclassifications			1						—						—						—						1
Amounts reclassified from AOCI			—						—						—						—						—
Net OCI			1						—						—						—						1
Balance as of June 30, 2022			$	(2)					$	—					$	—					$	—					$	(2)

(in millions)			Foreign Currency Translation						Ownership Share of Equity Method Investees’ OCI						DB Plans						Unrealized Gain (Loss) on Hedges						AOCI, Net
Attributable to Fluor:
Balance as of March 31, 2021			$	(258)					$	(56)					$	(117)					$	14					$	(417)
OCI before reclassifications			(1)						—						—						5						4
Amounts reclassified from AOCI			—						—						1						(5)						(4)
Net OCI			(1)						—						1						—						—
Balance as of June 30, 2021			$	(259)					$	(56)					$	(116)					$	14					$	(417)
Attributable to NCI:
Balance as of March 31, 2021			$	(4)					$	—					$	—					$	—					$	(4)
OCI before reclassifications			(1)						—						—						—						(1)
Amounts reclassified from AOCI			—						—						—						—						—
Net OCI			(1)						—						—						—						(1)
Balance as of June 30, 2021			$	(5)					$	—					$	—					$	—					$	(5)

(in millions)			Foreign Currency Translation						Ownership Share of Equity Method Investees’ OCI						DB Plans						Unrealized Gain (Loss) on Hedges						AOCI, Net
Attributable to Fluor:
Balance as of December 31, 2020			$	(261)					$	(54)					$	(119)					$	17					$	(417)
OCI before reclassifications			2						(2)						—						6						6
Amounts reclassified from AOCI			—						—						3						(9)						(6)
Net OCI			2						(2)						3						(3)						—
Balance as of June 30, 2021			$	(259)					$	(56)					$	(116)					$	14					$	(417)
Attributable to NCI:
Balance as of December 31, 2020			$	(4)					$	—					$	—					$	—					$	(4)
OCI before reclassifications			(1)						—						—						—						(1)
Amounts reclassified from AOCI			—						—						—						—						—
Net other comprehensive income (loss)			(1)						—						—						—						(1)
Balance as of June 30, 2021			$	(5)					$	—					$	—					$	—					$	(5)

Schedule of significant items reclassified out of AOCI and corresponding location and impact

Information about reclassifications out of AOCI follows:

												3ME June 30,												6ME June 30,
(in millions)						Location in Statement of Operations						2022						2021						2022						2021
Component of AOCI:
Ownership share of equity method investees’ OCI						Cost of revenue						$	(7)					$	—					$	(8)					$	—
Income tax benefit						Income tax expense (benefit)						—						—						—						—
Net of tax												$	(7)					$	—					$	(8)					$	—
DB plan adjustments						G&A						$	—					$	(1)					$	—					$	(2)
Income tax benefit						Income tax expense (benefit)						—						—						—						(1)
Net of tax												$	—					$	(1)					$	—					$	(3)
Unrealized gain (loss) on derivative contracts:
Commodity and foreign currency contracts						Various accounts(1)						$	(4)					$	7					$	1					$	12
Interest rate contracts						Interest expense						—						—						—						(1)
Income tax benefit						Income tax expense (benefit)						1						(2)						—						(2)
Net of tax												$	(3)					$	5					$	1					$	9

(1)Gains and losses on commodity and foreign currency derivative contracts were reclassified to "Cost of revenue" and "G&A"

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Tabular disclosure of information about items reclassified out of accumulated other comprehensive income (loss).

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Tabular disclosure of the components of accumulated other comprehensive income (loss).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6450520&loc=d3e32583-110901

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 14A
-URI https://asc.fasb.org/extlink&oid=126968391&loc=SL7669686-108580

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 45
-Paragraph 20
-URI https://asc.fasb.org/extlink&oid=118261656&loc=d3e32211-110900

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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=126968391&loc=d3e526-108580

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