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v3.22.2.2

Other Comprehensive Income (Loss) (Tables) | 9 Months Ended
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Sep. 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 September 30, 2022 |  | 3ME September 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 |  | $ | (32) |  |  | $ | — |  |  | $ | (32) |  |  | $ | (19) |  |  | $ | — |  |  | $ | (19) |
Ownership share of equity method investees’ OCI |  | 19 |  |  | (5) |  |  | 14 |  |  | (1) |  |  | (2) |  |  | (3) |
DB plan adjustments |  | — |  |  | — |  |  | — |  |  | 1 |  |  | — |  |  | 1 |
Unrealized gain (loss) on hedges |  | (7) |  |  | 2 |  |  | (5) |  |  | (2) |  |  | — |  |  | (2) |
Total OCI |  | (20) |  |  | (3) |  |  | (23) |  |  | (21) |  |  | (2) |  |  | (23) |
Less: OCI attributable to NCI |  | — |  |  | — |  |  | — |  |  | 2 |  |  | — |  |  | 2 |
OCI attributable to Fluor |  | $ | (20) |  |  | $ | (3) |  |  | $ | (23) |  |  | $ | (23) |  |  | $ | (2) |  |  | $ | (25) |
|  | 9ME September 30, 2022 |  | 9ME September 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 |  | $ | (35) |  |  | $ | — |  |  | $ | (35) |  |  | $ | (17) |  |  | $ | — |  |  | $ | (17) |
Ownership share of equity method investees’ OCI |  | 40 |  |  | (9) |  |  | 31 |  |  | (4) |  |  | (1) |  |  | (5) |
DB plan adjustments |  | — |  |  | — |  |  | — |  |  | 4 |  |  | — |  |  | 4 |
Unrealized gain (loss) on hedges |  | (12) |  |  | 4 |  |  | (8) |  |  | (4) |  |  | (1) |  |  | (5) |
Total OCI |  | (7) |  |  | (5) |  |  | (12) |  |  | (21) |  |  | (2) |  |  | (23) |
Less: OCI attributable to NCI |  | — |  |  | — |  |  | — |  |  | 2 |  |  | — |  |  | 2 |
OCI attributable to Fluor |  | $ | (7) |  |  | $ | (5) |  |  | $ | (12) |  |  | $ | (23) |  |  | $ | (2) |  |  | $ | (25) |
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 June 30, 2022 | $ | (304) |  |  | $ | (38) |  |  | $ | (17) |  |  | $ | 4 |  |  | $ | (355) |
OCI before reclassifications | (32) |  |  | 14 |  |  | — |  |  | (5) |  |  | (23) |
Amounts reclassified from AOCI | — |  |  | — |  |  | — |  |  | — |  |  | — |
Net OCI | (32) |  |  | 14 |  |  | — |  |  | (5) |  |  | (23) |
Balance as of September 30, 2022 | $ | (336) |  |  | $ | (24) |  |  | $ | (17) |  |  | $ | (1) |  |  | $ | (378) |
Attributable to NCI: |  |  |  |  |  |  |  |  |
Balance as of June 30, 2022 | $ | (2) |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (2) |
OCI before reclassifications | — |  |  | — |  |  | — |  |  | — |  |  | — |
Amounts reclassified from AOCI | — |  |  | — |  |  | — |  |  | — |  |  | — |
Net OCI | — |  |  | — |  |  | — |  |  | — |  |  | — |
Balance as of September 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 | (37) |  |  | 24 |  |  | 1 |  |  | (7) |  |  | (19) |
Amounts reclassified from AOCI | — |  |  | 8 |  |  | — |  |  | (1) |  |  | 7 |
Net OCI | (37) |  |  | 32 |  |  | 1 |  |  | (8) |  |  | (12) |
Balance as of September 30, 2022 | $ | (336) |  |  | $ | (24) |  |  | $ | (17) |  |  | $ | (1) |  |  | $ | (378) |
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 September 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 June 30, 2021 | $ | (259) |  |  | $ | (56) |  |  | $ | (116) |  |  | $ | 14 |  |  | $ | (417) |
OCI before reclassifications | (21) |  |  | (3) |  |  | — |  |  | 2 |  |  | (22) |
Amounts reclassified from AOCI | — |  |  | — |  |  | 1 |  |  | (4) |  |  | (3) |
Net OCI | (21) |  |  | (3) |  |  | 1 |  |  | (2) |  |  | (25) |
Balance as of September 30, 2021 | $ | (280) |  |  | $ | (59) |  |  | $ | (115) |  |  | $ | 12 |  |  | $ | (442) |
Attributable to NCI: |  |  |  |  |  |  |  |
Balance as of June 30, 2021 | $ | (5) |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (5) |
OCI before reclassifications | 3 |  |  | — |  |  | — |  |  | — |  |  | 3 |
Amounts reclassified from AOCI | — |  |  | — |  |  | — |  |  | — |  |  | — |
Net OCI | 3 |  |  | — |  |  | — |  |  | — |  |  | 3 |
Balance as of September 30, 2021 | $ | (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, 2020 | $ | (261) |  |  | $ | (54) |  |  | $ | (119) |  |  | $ | 17 |  |  | $ | (417) |
OCI before reclassifications | (19) |  |  | (5) |  |  | — |  |  | 8 |  |  | (16) |
Amounts reclassified from AOCI | — |  |  | — |  |  | 4 |  |  | (13) |  |  | (9) |
Net OCI | (19) |  |  | (5) |  |  | 4 |  |  | (5) |  |  | (25) |
Balance as of September 30, 2021 | $ | (280) |  |  | $ | (59) |  |  | $ | (115) |  |  | $ | 12 |  |  | $ | (442) |
Attributable to NCI: |  |  |  |  |  |  |  |
Balance as of December 31, 2020 | $ | (4) |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (4) |
OCI before reclassifications | 2 |  |  | — |  |  | — |  |  | — |  |  | 2 |
Amounts reclassified from AOCI | — |  |  | — |  |  | — |  |  | — |  |  | — |
Net other comprehensive income (loss) | 2 |  |  | — |  |  | — |  |  | — |  |  | 2 |
Balance as of September 30, 2021 | $ | (2) |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (2) |
Schedule of significant items reclassified out of AOCI and corresponding location and impact | Information about reclassifications out of AOCI follows:
|  |  |  | 3ME September 30, |  | 9ME September 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 |  | $ | — |  |  | $ | — |  |  | $ | (8) |  |  | $ | — |
Income tax benefit |  | Income tax expense (benefit) |  | — |  |  | — |  |  | — |  |  | — |
Net of tax |  |  |  | $ | — |  |  | $ | — |  |  | $ | (8) |  |  | $ | — |
DB plan adjustments |  | G&A |  | $ | — |  |  | $ | (1) |  |  | $ | — |  |  | $ | (4) |
Income tax benefit |  | Income tax expense (benefit) |  | — |  |  | — |  |  | — |  |  | — |
Net of tax |  |  |  | $ | — |  |  | $ | (1) |  |  | $ | — |  |  | $ | (4) |
Unrealized gain (loss) on derivative contracts: |  |  |  |  |  |  |  |  |  |
Commodity and foreign currency contracts |  | Various accounts(1) |  | $ | — |  |  | $ | 4 |  |  | $ | 1 |  |  | $ | 16 |
Interest rate contracts |  | Interest expense |  | — |  |  | — |  |  | — |  |  | (1) |
Income tax benefit |  | Income tax expense (benefit) |  | — |  |  | — |  |  | — |  |  | (2) |
Net of tax |  |  |  | $ | — |  |  | $ | 4 |  |  | $ | 1 |  |  | $ | 13 |
(1)Gains and losses on commodity and foreign currency derivative contracts were reclassified to "Cost of revenue" and "G&A"

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