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Other Comprehensive Income (Loss) (Tables) | 9 Months Ended
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Sep. 30, 2021
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] |
Schedule of Components of Other Comprehensive Income (Loss) and Related Tax Effects | The components of other comprehensive income (loss) and the related tax effects for the three and nine months ended September 30, 2021 and 2020 were as follows:
| Three Months Ended September 30, 2021 |  | Three Months Ended September 30, 2020
(in thousands) | Before-Tax Amount | Tax (Expense) Benefit | Net-of-Tax Amount |  | Before-Tax Amount | Tax (Expense) Benefit | Net-of-Tax Amount
Other comprehensive income (loss): |  |  |  |  |  |  |
Defined benefit pension plan adjustments | $ | 683 |  | $ | (191) |  | $ | 492 |  |  | $ | 592 |  | $ | (168) |  | $ | 424 |
Foreign currency translation adjustments | (1,389) |  | 264 |  | (1,125) |  |  | 1,333 |  | (231) |  | 1,102 |
Unrealized loss in fair value of investments | (581) |  | 133 |  | (448) |  |  | (281) |  | 56 |  | (225) |
Total other comprehensive income (loss) | (1,287) |  | 206 |  | (1,081) |  |  | 1,644 |  | (343) |  | 1,301 |
Less: Other comprehensive income (loss) attributable to noncontrolling interests(a) | (447) |  | — |  | (447) |  |  | 520 |  | — |  | 520 |
Total other comprehensive income (loss) attributable to Tutor Perini Corporation | $ | (840) |  | $ | 206 |  | $ | (634) |  |  | $ | 1,124 |  | $ | (343) |  | $ | 781 |
____________________________________________________________________________________________________ (a)The only component of other comprehensive income (loss) attributable to noncontrolling interests is foreign currency translation.
| Nine Months Ended September 30, 2021 |  | Nine Months Ended September 30, 2020
(in thousands) | Before-Tax Amount | Tax (Expense) Benefit | Net-of-Tax Amount |  | Before-Tax Amount | Tax (Expense) Benefit | Net-of-Tax Amount
Other comprehensive income (loss): |  |  |  |  |  |  |
Defined benefit pension plan adjustments | $ | 2,049 |  | $ | (574) |  | $ | 1,475 |  |  | $ | 1,775 |  | $ | (504) |  | $ | 1,271 |
Foreign currency translation adjustments | (541) |  | 188 |  | (353) |  |  | (1,621) |  | 365 |  | (1,256) |
Unrealized gain (loss) in fair value of investments | (1,828) |  | 416 |  | (1,412) |  |  | 2,078 |  | (455) |  | 1,623 |
Total other comprehensive income (loss) | (320) |  | 30 |  | (290) |  |  | 2,232 |  | (594) |  | 1,638 |
Less: Other comprehensive income (loss) attributable to noncontrolling interests(a) | 129 |  | — |  | 129 |  |  | (646) |  | — |  | (646) |
Total other comprehensive income (loss) attributable to Tutor Perini Corporation | $ | (449) |  | $ | 30 |  | $ | (419) |  |  | $ | 2,878 |  | $ | (594) |  | $ | 2,284 |
____________________________________________________________________________________________________ (a)The only component of other comprehensive income (loss) attributable to noncontrolling interests is foreign currency translation.
Schedule of Changes in AOCI Balances by Component (After-Tax) | The changes in AOCI balances by component (after tax) attributable to Tutor Perini Corporation during the three and nine months ended September 30, 2021 were as follows:
| Three Months Ended September 30, 2021
(in thousands) | Defined Benefit Pension Plan | Foreign Currency Translation | Unrealized Gain (Loss) in Fair Value of Investments, Net | Accumulated Other Comprehensive Income (Loss)
Attributable to Tutor Perini Corporation: |  |  |  |
Balance as of June 30, 2021 | $ | (43,104) |  | $ | (5,126) |  | $ | 1,704 |  | $ | (46,526) |
Other comprehensive loss before reclassifications | — |  | (678) |  | (391) |  | (1,069) |
Amounts reclassified from AOCI | 492 |  | — |  | (57) |  | 435 |
Total other comprehensive income (loss) | 492 |  | (678) |  | (448) |  | (634) |
Balance as of September 30, 2021 | $ | (42,612) |  | $ | (5,804) |  | $ | 1,256 |  | $ | (47,160) |
| Nine Months Ended September 30, 2021
(in thousands) | Defined Benefit Pension Plan | Foreign Currency Translation | Unrealized Gain (Loss) in Fair Value of Investments, Net | Accumulated Other Comprehensive Income (Loss)
Attributable to Tutor Perini Corporation: |  |  |  |
Balance as of December 31, 2020 | $ | (44,087) |  | $ | (5,322) |  | $ | 2,668 |  | $ | (46,741) |
Other comprehensive loss before reclassifications | — |  | (482) |  | (1,218) |  | (1,700) |
Amounts reclassified from AOCI | 1,475 |  | — |  | (194) |  | 1,281 |
Total other comprehensive income (loss) | 1,475 |  | (482) |  | (1,412) |  | (419) |
Balance as of September 30, 2021 | $ | (42,612) |  | $ | (5,804) |  | $ | 1,256 |  | $ | (47,160) |
The changes in AOCI balances by component (after tax) attributable to Tutor Perini Corporation during the three and nine months ended September 30, 2020 were as follows:
| Three Months Ended September 30, 2020
(in thousands) | Defined Benefit Pension Plan | Foreign Currency Translation | Unrealized Gain (Loss) in Fair Value of Investments, Net | Accumulated Other Comprehensive Income (Loss)
Attributable to Tutor Perini Corporation: |  |  |  |
Balance as of June 30, 2020 | $ | (36,979) |  | $ | (6,563) |  | $ | 2,945 |  | $ | (40,597) |
Other comprehensive income (loss) before reclassifications | — |  | 582 |  | (3) |  | 579 |
Amounts reclassified from AOCI | 424 |  | — |  | (222) |  | 202 |
Total other comprehensive income (loss) | 424 |  | 582 |  | (225) |  | 781 |
Balance as of September 30, 2020 | $ | (36,555) |  | $ | (5,981) |  | $ | 2,720 |  | $ | (39,816) |
| Nine Months Ended September 30, 2020
(in thousands) | Defined Benefit Pension Plan | Foreign Currency Translation | Unrealized Gain (Loss) in Fair Value of Investments, Net | Accumulated Other Comprehensive Income (Loss)
Attributable to Tutor Perini Corporation: |  |  |  |
Balance as of December 31, 2019 | $ | (37,826) |  | $ | (5,371) |  | $ | 1,097 |  | $ | (42,100) |
Other comprehensive income (loss) before reclassifications | — |  | (610) |  | 1,878 |  | 1,268 |
Amounts reclassified from AOCI | 1,271 |  | — |  | (255) |  | 1,016 |
Total other comprehensive income (loss) | 1,271 |  | (610) |  | 1,623 |  | 2,284 |
Balance as of September 30, 2020 | $ | (36,555) |  | $ | (5,981) |  | $ | 2,720 |  | $ | (39,816) |
The significant items reclassified out of AOCI and the corresponding location and impact on the Consolidated Statements of Income during the three and nine months ended September 30, 2021 and 2020 were as follows:
| Location in Consolidated | Three Months Ended September 30, |  | Nine Months Ended September 30,
(in thousands) | Statements of Income | 2021 | 2020 |  | 2021 | 2020
Component of AOCI: |  |  |  |  |  |
Defined benefit pension plan adjustments | Other income (expense) | $ | 683 |  | $ | 592 |  |  | $ | 2,049 |  | $ | 1,775 |
Income tax benefit | Income tax expense | (191) |  | (168) |  |  | (574) |  | (504) |
Net of tax |  | $ | 492 |  | $ | 424 |  |  | $ | 1,475 |  | $ | 1,271 |
Unrealized gain in fair value of investment adjustments | Other income (expense) | $ | (73) |  | $ | (281) |  |  | $ | (246) |  | $ | (323) |
Income tax expense | Income tax expense | 16 |  | 59 |  |  | 52 |  | 68 |
Net of tax |  | $ | (57) |  | $ | (222) |  |  | $ | (194) |  | $ | (255) |

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- Definition Tabular disclosure of the components of accumulated other comprehensive income (loss). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 830 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6450520&loc=d3e32583-110901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 14A -URI http://asc.fasb.org/extlink&oid=124509347&loc=SL7669686-108580 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 830 -SubTopic 30 -Section 45 -Paragraph 20 -URI http://asc.fasb.org/extlink&oid=118261656&loc=d3e32211-110900 + Details
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- Definition Tabular disclosure of components of comprehensive income (loss). Includes, but is not limited to, foreign currency translation adjustments, foreign currency transactions designated as economic hedges of a net investment in foreign entity, gain (loss) and prior service cost (credit) for pension plans and other postretirement benefit plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=124509347&loc=d3e526-108580 + Details
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