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v3.23.1

Other Comprehensive Income (Loss) - (Tables) | 3 Months Ended
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Mar. 31, 2023
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 March 31, 2023 |  | 3ME March 31, 2022
(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 |  | $ | 46 |  |  | $ | — |  |  | $ | 46 |  |  | $ | 29 |  |  | $ | — |  |  | $ | 29 |
Ownership share of equity method investees’ OCI |  | (1) |  |  | — |  |  | (1) |  |  | — |  |  | 1 |  |  | 1 |
DB plan adjustments |  | 1 |  |  | — |  |  | 1 |  |  | 1 |  |  | — |  |  | 1 |
Unrealized gain (loss) on hedges |  | — |  |  | — |  |  | — |  |  | (2) |  |  | — |  |  | (2) |
Total OCI |  | 46 |  |  | — |  |  | 46 |  |  | 28 |  |  | 1 |  |  | 29 |
Less: OCI attributable to NCI |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
OCI attributable to Fluor |  | $ | 46 |  |  | $ | — |  |  | $ | 46 |  |  | $ | 28 |  |  | $ | 1 |  |  | $ | 29 |
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 December 31, 2022 | $ | (328) |  |  | $ | (25) |  |  | $ | (13) |  |  | $ | 1 |  |  | $ | (365) |
OCI before reclassifications | 11 |  |  | (1) |  |  | 1 |  |  | (1) |  |  | 11 |
Amounts reclassified from AOCI | 35 |  |  | — |  |  | — |  |  | 1 |  |  | 35 |
Net OCI | 46 |  |  | (1) |  |  | 1 |  |  | — |  |  | 46 |
Balance as of March 31, 2023 | $ | (282) |  |  | $ | (26) |  |  | $ | (12) |  |  | $ | 1 |  |  | $ | (319) |
Attributable to NCI: |  |  |  |  |  |  |  |  |
Balance as of December 31, 2022 | $ | (2) |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (2) |
OCI before reclassifications | — |  |  | — |  |  | — |  |  | — |  |  | — |
Amounts reclassified from AOCI | — |  |  | — |  |  | — |  |  | — |  |  | — |
Net OCI | — |  |  | — |  |  | — |  |  | — |  |  | — |
Balance as of March 31, 2023 | $ | (2) |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (2) |
Attributable to Fluor: |  |  |  |  |  |  |  |  |
Balance as of December 31, 2021 | $ | (300) |  |  | $ | (56) |  |  | $ | (18) |  |  | $ | 8 |  |  | $ | (366) |
OCI before reclassifications | 29 |  |  | 1 |  |  | 1 |  |  | 2 |  |  | 33 |
Amounts reclassified from AOCI | — |  |  | — |  |  | — |  |  | (4) |  |  | (4) |
Net OCI | 29 |  |  | 1 |  |  | 1 |  |  | (2) |  |  | 29 |
Balance as of March 31, 2022 | $ | (271) |  |  | $ | (55) |  |  | $ | (17) |  |  | $ | 6 |  |  | $ | (337) |
Attributable to NCI: |  |  |  |  |  |  |  |  |
Balance as of December 31, 2021 | $ | (3) |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (3) |
OCI before reclassifications | — |  |  | — |  |  | — |  |  | — |  |  | — |
Amounts reclassified from AOCI | — |  |  | — |  |  | — |  |  | — |  |  | — |
Net OCI | — |  |  | — |  |  | — |  |  | — |  |  | — |
Balance as of March 31, 2022 | $ | (3) |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (3) |
Schedule of Significant Items Reclassified Out of Aoci and Corresponding Location and Impact | The reclassifications out of AOCI follow:
|  | Location in Statement of Operations |  | 3ME March 31,
(in thousands) |  |  | 2023 |  | 2022
Component of AOCI: |  |  |  |  |  |
Foreign currency translation adjustment |  | Cost of revenue |  | $ | (35) |  |  | $ | — |
Income tax benefit |  | Income tax expense (benefit) |  | — |  |  | — |
Net of tax |  |  |  | $ | (35) |  |  | $ | — |
Unrealized gain (loss) on derivative contracts: |  |  |  |  |  |
Foreign currency contracts |  | Cost of revenue |  | $ | (1) |  |  | $ | 5 |
Income tax expense |  | Income tax expense (benefit) |  | — |  |  | (1) |
Net of tax |  |  |  | $ | (1) |  |  | $ | 4 |

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