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Other Comprehensive Income (Loss) | 6 Months Ended
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Jun. 30, 2023
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] |
Other Comprehensive Income (Loss) | Other Comprehensive Income (Loss) The components of OCI follow:
|  | 3ME June 30, 2023 |  | 3ME June 30, 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 |  | $ | 19 |  |  | $ | — |  |  | $ | 19 |  |  | $ | (33) |  |  | $ | — |  |  | $ | (33) |
Ownership share of equity method investees’ OCI |  | (4) |  |  | 1 |  |  | (3) |  |  | 21 |  |  | (4) |  |  | 17 |
Other |  | 1 |  |  | — |  |  | 1 |  |  | (1) |  |  | — |  |  | (1) |
Total OCI |  | 16 |  |  | 1 |  |  | 17 |  |  | (13) |  |  | (4) |  |  | (17) |
Less: OCI attributable to NCI |  | — |  |  | — |  |  | — |  |  | 1 |  |  | — |  |  | 1 |
OCI attributable to Fluor |  | $ | 16 |  |  | $ | 1 |  |  | $ | 17 |  |  | $ | (14) |  |  | $ | (4) |  |  | $ | (18) |
|  | 6ME June 30, 2023 |  | 6ME June 30, 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 |  | $ | 65 |  |  | $ | — |  |  | $ | 65 |  |  | $ | (4) |  |  | $ | — |  |  | $ | (4) |
Ownership share of equity method investees’ OCI |  | (5) |  |  | 1 |  |  | (4) |  |  | 21 |  |  | (3) |  |  | 18 |
Other |  | 2 |  |  | — |  |  | 2 |  |  | (3) |  |  | 1 |  |  | (2) |
Total OCI |  | 62 |  |  | 1 |  |  | 63 |  |  | 14 |  |  | (2) |  |  | 12 |
Less: OCI attributable to NCI |  | — |  |  | — |  |  | — |  |  | 1 |  |  | — |  |  | 1 |
OCI attributable to Fluor |  | $ | 62 |  |  | $ | 1 |  |  | $ | 63 |  |  | $ | 13 |  |  | $ | (2) |  |  | $ | 11 |
The changes in AOCI balances follow:
(in millions) | Foreign Currency Translation |  | Ownership Share of Equity Method Investees’ OCI |  |  |  |  |  | Other |  | AOCI, Net
Attributable to Fluor: |  |  |  |  |  |  |  |  |  |  |
Balance as of March 31, 2023 | $ | (282) |  |  | $ | (26) |  |  |  |  |  |  | $ | (11) |  |  | $ | (319) |
OCI before reclassifications | 19 |  |  | (3) |  |  |  |  |  |  | — |  |  | 16 |
Amounts reclassified from AOCI | — |  |  | — |  |  |  |  |  |  | 1 |  |  | 1 |
Net OCI | 19 |  |  | (3) |  |  |  |  |  |  | 1 |  |  | 17 |
Balance as of June 30, 2023 | $ | (263) |  |  | $ | (29) |  |  |  |  |  |  | $ | (10) |  |  | $ | (302) |
|  |  |  |  |  |  |  |  | 0 |  |
Attributable to NCI: |  |  |  |  |  |  |  |  | 0 |  |
Balance as of March 31, 2023 | $ | (2) |  |  | $ | — |  |  |  |  |  |  | $ | — |  |  | $ | (2) |
OCI before reclassifications | — |  |  | — |  |  |  |  |  |  | — |  |  | — |
Amounts reclassified from AOCI | — |  |  | — |  |  |  |  |  |  | — |  |  | — |
Net OCI | — |  |  | — |  |  |  |  |  |  | — |  |  | — |
Balance as of June 30, 2023 | $ | (2) |  |  | $ | — |  |  |  |  |  |  | $ | — |  |  | $ | (2) |
(in millions) | Foreign Currency Translation |  | Ownership Share of Equity Method Investees’ OCI |  |  |  |  |  | Other |  | AOCI, Net
Attributable to Fluor: |  |  |  |  |  |  |  |  |  |  |
Balance as of December 31, 2022 | $ | (328) |  |  | $ | (25) |  |  |  |  |  |  | $ | (12) |  |  | $ | (365) |
OCI before reclassifications | 65 |  |  | (4) |  |  |  |  |  |  | — |  |  | 61 |
Amounts reclassified from AOCI | — |  |  | — |  |  |  |  |  |  | 2 |  |  | 2 |
Net OCI | 65 |  |  | (4) |  |  |  |  |  |  | 2 |  |  | 63 |
Balance as of June 30, 2023 | $ | (263) |  |  | $ | (29) |  |  |  |  |  |  | $ | (10) |  |  | $ | (302) |
|  |  |  |  |  |  |  |  | 0 |  |
Attributable to NCI: |  |  |  |  |  |  |  |  | 0 |  |
Balance as of December 31, 2022 | $ | (2) |  |  | $ | — |  |  |  |  |  |  | $ | — |  |  | $ | (2) |
OCI before reclassifications | — |  |  | — |  |  |  |  |  |  | — |  |  | — |
Amounts reclassified from AOCI | — |  |  | — |  |  |  |  |  |  | — |  |  | — |
Net OCI | — |  |  | — |  |  |  |  |  |  | — |  |  | — |
Balance as of June 30, 2023 | $ | (2) |  |  | $ | — |  |  |  |  |  |  | $ | — |  |  | $ | (2) |
(in millions) | Foreign Currency Translation |  | Ownership Share of Equity Method Investees’ OCI |  |  |  |  |  | Other |  | AOCI, Net
Attributable to Fluor: |  |  |  |  |  |  |  |  |  |  |
Balance as of March 31, 2022 | $ | (271) |  |  | $ | (55) |  |  |  |  |  |  | $ | (11) |  |  | $ | (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 | $ | (305) |  |  | $ | (38) |  |  |  |  |  |  | $ | (12) |  |  | $ | (355) |
|  |  |  |  |  |  |  |  | 0 |  |
Attributable to NCI: |  |  |  |  |  |  |  | 0 |  |
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 |  |  |  |  |  | Other |  | AOCI, Net
Attributable to Fluor: |  |  |  |  |  |  |  |  |  |  |
Balance as of December 31, 2021 | $ | (300) |  |  | $ | (56) |  |  |  |  |  |  | $ | (10) |  |  | $ | (366) |
OCI before reclassifications | (5) |  |  | 10 |  |  |  |  |  |  | (1) |  |  | 4 |
Amounts reclassified from AOCI | — |  |  | 8 |  |  |  |  |  |  | (1) |  |  | 7 |
Net OCI | (5) |  |  | 18 |  |  |  |  |  |  | (2) |  |  | 11 |
Balance as of June 30, 2022 | $ | (305) |  |  | $ | (38) |  |  |  |  |  |  | $ | (12) |  |  | $ | (355) |
|  |  |  |  |  |  |  |  | 0 |  |
Attributable to NCI: |  |  |  |  |  |  |  | 0 |  |
Balance as of December 31, 2021 | $ | (3) |  |  | $ | — |  |  |  |  |  |  | $ | — |  |  | $ | (3) |
OCI before reclassifications | 1 |  |  | — |  |  |  |  |  |  | — |  |  | 1 |
Amounts reclassified from AOCI | — |  |  | — |  |  |  |  |  |  | — |  |  | — |
Net other comprehensive income (loss) | 1 |  |  | — |  |  |  |  |  |  | — |  |  | 1 |
Balance as of June 30, 2022 | $ | (2) |  |  | $ | — |  |  |  |  |  |  | $ | — |  |  | $ | (2) |
The reclassifications out of AOCI follow:
|  | Location in Statement of Operations |  | 3ME June 30, |  | 6ME June 30,
(in millions) |  |  | 2023 |  | 2022 |  | 2023 |  | 2022
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) |
Unrealized gain (loss) on foreign currency contracts |  | Cost of revenue |  | $ | (1) |  |  | $ | (4) |  |  | $ | (2) |  |  | $ | 1 |
Income tax benefit |  | Income tax expense (benefit) |  | — |  |  | 1 |  |  | — |  |  | — |
Net of tax |  |  |  | $ | (1) |  |  | $ | (3) |  |  | $ | (2) |  |  | $ | 1 |

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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/disclosureRef -Topic 944 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(19)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(21)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(23)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//220/tableOfContent + Details
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