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Earnings Per Share (Tables) | 9 Months Ended
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Sep. 30, 2024
Earnings Per Share [Abstract] |
Schedule of Calculations of Basic and Diluted EPS |
|  | 3ME September 30, |  | 9ME September 30,
(in millions, except per share amounts) |  | 2024 |  | 2023 |  | 2024 |  | 2023
Net earnings attributable to Fluor |  | $ | 54 |  |  | $ | 206 |  |  | $ | 282 |  |  | $ | 161 |
Less: Dividends on CPS |  | — |  |  | 10 |  |  | — |  |  | 29 |
Less: Make-whole payment on conversion of CPS |  | — |  |  | 27 |  |  | — |  |  | 27 |
Net earnings available to Fluor common stockholders |  | 54 |  |  | 169 |  |  | 282 |  |  | 105 |
Weighted average common shares outstanding |  | 171 |  |  | 144 |  |  | 171 |  |  | 143 |
Diluted effect: |  |  |  |  |  |  |  |
CPS |  | — |  | — |  | — |  | —
Stock options, RSUs and performance-based award units |  | 3 |  | 3 |  | 3 |  | 3
Convertible debt (1) |  | — |  | — |  | — |  | —
Weighted average diluted shares outstanding |  | 174 |  |  | 147 |  |  | 174 |  |  | 146 |
Basic EPS available to Fluor common stockholders |  | $ | 0.32 |  |  | $ | 1.18 |  |  | $ | 1.65 |  |  | $ | 0.73 |
Diluted EPS available to Fluor common stockholders |  | $ | 0.31 |  |  | $ | 1.15 |  |  | $ | 1.63 |  |  | $ | 0.72 |
Anti-dilutive securities not included in shares outstanding: |  |  |  |  |  |  |  |
CPS |  | — |  |  | 26 |  |  | — |  |  | 27 |
Stock options, RSUs and performance-based award units |  | 1 |  |  | 2 |  |  | 2 |  |  | 2 |
Stock delivered under capped call options (2) |  | — |  |  | — |  |  | — |  |  | — |
(1) Holders of our 2029 Notes may convert their notes at a conversion price of $45.37 per share when the stock price exceeds $58.98 for 20 of the last 30 days preceding quarter end. Upon conversion, we will repay the principal amount of the notes in cash and may elect to convey the conversion premium in cash, shares of our common stock or a combination of both. The conversion feature of our 2029 Notes has a dilutive impact on EPS when the average market price of our common stock exceeds the conversion price of $45.37 per share for the quarter. During the 2024 Quarter, the weighted average price per share of our common stock was $47.17 which resulted in the addition of 484,208 shares to diluted shares outstanding during the 2024 Quarter. (2) Diluted shares outstanding does not include the impact of the capped call options we entered into concurrently with the issuance of the 2029 Notes, as the effect is always anti-dilutive. If shares are delivered to us under the capped calls, those shares will offset the dilutive effect of the shares that we would issue upon conversion of the 2029 Notes.

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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 + Details
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