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Operating Information by Segment and Geographic Area | 3 Months Ended
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Mar. 31, 2024
Segment Reporting [Abstract] |
Operating Information by Segment and Geographic Area | Operating Information by Segment and Geographic Area
|  | 3ME March 31,
(in millions) |  | 2024 |  | 2023
Revenue |  |  |  |
Energy Solutions |  | $ | 1,432 |  |  | $ | 1,612 |
Urban Solutions |  | 1,479 |  |  | 1,208 |
Mission Solutions |  | 601 |  |  | 649 |
Other |  | 222 |  |  | 283 |
Total revenue |  | $ | 3,734 |  |  | $ | 3,752 |
Segment profit (loss) |  |  |  |
Energy Solutions |  | $ | 68 |  |  | $ | 88 |
Urban Solutions |  | 50 |  |  | (20) |
Mission Solutions |  | 22 |  |  | 7 |
Other |  | (22) |  |  | (90) |
Total segment profit (loss) |  | $ | 118 |  |  | $ | (15) |
G&A |  | (59) |  |  | (62) |
Foreign currency gain (loss) |  | 12 |  |  | (41) |
Interest income (expense), net |  | 39 |  |  | 41 |
Earnings (loss) attributable to NCI |  | (19) |  |  | (23) |
Earnings (loss) before taxes |  | $ | 91 |  |  | $ | (100) |
Intercompany revenue for our professional staffing business, excluded from revenue above |  | $ | 81 |  |  | $ | 69 |
Energy Solutions. Segment profit in the 2024 Quarter was adversely impacted by $29 million (or $0.12 per share) in cost growth for delays, craft labor and material escalation on a construction only subcontract executed by our joint venture entity in Mexico. Segment profit in the 2023 Quarter included a favorable foreign currency remeasurement effect totaling $22 million (or $0.09 per share) on a project with multiple currencies. Segment profit in the 2024 Quarter included a gain of $7 million on embedded foreign currency derivatives compared to a loss of $39 million in the 2023 Quarter. Urban Solutions. Segment profit in the 2024 Quarter significantly improved due to the ramp up of execution activities on several recently awarded projects while segment profit in the 2023 Quarter included a $59 million (or $0.34 per share) charge for rework associated with subcontractor design errors on the LAX Automated People Mover project. Mission Solutions. Segment profit improved in the 2024 Quarter compared to the 2023 Quarter that included a $21 million (or $0.12 per share) charge for cost growth on a weapons facility project. Other. Segment profit (loss) for NuScale, Stork and AMECO follows:
| 3ME March 31,
(in millions) | 2024 |  | 2023
NuScale(1) | $ | (33) |  |  | $ | (29) |
Stork | 11 |  |  | 1 |
AMECO | — |  |  | (62) |
Segment profit (loss) | $ | (22) |  |  | $ | (90) |
(1) As of March 31, 2024, we had an approximate 55% ownership in NuScale. In March 2024, we completed the sale of Stork's operations in continental Europe for $67 million, including a second payment of $38 million that was received in April 2024. During the 2024 Quarter, we recognized a gain on sale of $11 million including de-recognition of Stork's net assets and cumulative foreign currency translation. During April 2024, we also entered into a definitive sale agreement for Stork's U.K. operations, which could close as early as the second quarter of 2024. The financial statement effects for this proposed U.K. sale did not meet the requirements for held-for-sale reporting as of March 31, 2024. The transaction, as agreed to, is not expected to have a material earnings impact when recognized. In March 2023, we sold our AMECO South America business, which included operations in Chile and Peru. This transaction marked the completion of the AMECO divestiture. Upon the sale of AMECO South America in the 2023 Quarter, we recognized a $60 million negative earnings impact, including $35 million associated with foreign currency translation. Total assets by segment are as follows:
(in millions) |  | March 31, 2024 |  | December 31, 2023
Energy Solutions |  | $ | 1,085 |  |  | $ | 1,053 |
Urban Solutions |  | 1,350 |  |  | 1,211 |
Mission Solutions |  | 573 |  |  | 577 |
Other |  | 267 |  |  | 509 |
Corporate |  | 3,425 |  |  | 3,623 |
Total assets |  | $ | 6,700 |  |  | $ | 6,973 |
Revenue by project location follows:
|  | 3ME March 31,
(in millions) |  | 2024 |  | 2023
North America |  | $ | 2,372 |  |  | $ | 2,651 |
Asia Pacific (includes Australia) |  | 443 |  |  | 324 |
Europe |  | 772 |  |  | 512 |
Central and South America |  | 67 |  |  | 221 |
Middle East and Africa |  | 80 |  |  | 44 |
Total revenue |  | $ | 3,734 |  |  | $ | 3,752 |

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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 -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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