XML 53 R38.htm IDEA: XBRL DOCUMENT
v3.25.1

Other Comprehensive Income (Loss) (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2025
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 months ended March 31, 2025 and 2024 were as follows:
| Three Months Ended March 31, 2025 |  | Three Months Ended March 31, 2024
(in thousands) | Before-Tax Amount | Tax Expense | Net-of-Tax Amount |  | Before-Tax Amount | Tax (Expense) Benefit | Net-of-Tax Amount
Other comprehensive income (loss): |  |  |  |  |  |  |
Defined benefit pension plan adjustments | $ | 413 |  | $ | (111) |  | $ | 302 |  |  | $ | 437 |  | $ | (116) |  | $ | 321 |
Foreign currency translation adjustments | 787 |  | (118) |  | 669 |  |  | (1,082) |  | 155 |  | (927) |
Unrealized gain (loss) in fair value of investments | 1,644 |  | (339) |  | 1,305 |  |  | (301) |  | 65 |  | (236) |
Total other comprehensive income (loss) | 2,844 |  | (568) |  | 2,276 |  |  | (946) |  | 104 |  | (842) |
Less: Other comprehensive income (loss) attributable to noncontrolling interests | 478 |  | — |  | 478 |  |  | (467) |  | — |  | (467) |
Total other comprehensive income (loss) attributable to Tutor Perini Corporation | $ | 2,366 |  | $ | (568) |  | $ | 1,798 |  |  | $ | (479) |  | $ | 104 |  | $ | (375) |
Schedule of Changes in AOCI Balances by Component (After-Tax) | The changes in AOCI balances by component (after tax) attributable to Tutor Perini Corporation and attributable to noncontrolling interests during the three months ended March 31, 2025 and 2024 were as follows:
| Three Months Ended March 31, 2025
(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, 2024 | $ | (23,572) |  | $ | (8,657) |  | $ | (1,759) |  | $ | (33,988) |
Other comprehensive income before reclassifications | — |  | 313 |  | 1,201 |  | 1,514 |
Amounts reclassified from AOCI | 302 |  | — |  | (18) |  | 284 |
Total other comprehensive income | 302 |  | 313 |  | 1,183 |  | 1,798 |
Balance as of March 31, 2025 | $ | (23,270) |  | $ | (8,344) |  | $ | (576) |  | $ | (32,190) |
Attributable to Noncontrolling Interests: |  |  |  |
Balance as of December 31, 2024 | $ | — |  | $ | (2,423) |  | $ | (60) |  | $ | (2,483) |
Other comprehensive income | — |  | 356 |  | 122 |  | 478 |
Balance as of March 31, 2025 | $ | — |  | $ | (2,067) |  | $ | 62 |  | $ | (2,005) |
| Three Months Ended March 31, 2024
(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, 2023 | $ | (29,354) |  | $ | (6,893) |  | $ | (3,540) |  | $ | (39,787) |
Other comprehensive loss before reclassifications | — |  | (428) |  | (313) |  | (741) |
Amounts reclassified from AOCI | 321 |  | — |  | 45 |  | 366 |
Total other comprehensive income (loss) | 321 |  | (428) |  | (268) |  | (375) |
Balance as of March 31, 2024 | $ | (29,033) |  | $ | (7,321) |  | $ | (3,808) |  | $ | (40,162) |
Attributable to Noncontrolling Interests: |  |  |  |
Balance as of December 31, 2023 | $ | — |  | $ | (312) |  | $ | (419) |  | $ | (731) |
Other comprehensive income (loss) | — |  | (499) |  | 32 |  | (467) |
Balance as of March 31, 2024 | $ | — |  | $ | (811) |  | $ | (387) |  | $ | (1,198) |
The significant items reclassified out of AOCI and the corresponding location and impact on the Condensed Consolidated Statements of Operations during the three months ended March 31, 2025 and 2024 were as follows:
| Three Months Ended March 31, |  |
(in thousands) | 2025 | 2024 |  |  |
Component of AOCI: |  |  |  |  |
Defined benefit pension plan adjustments(a) | $ | 413 |  | $ | 437 |  |  |  |
Income tax benefit(b) | (111) |  | (116) |  |  |  |
Net of tax | $ | 302 |  | $ | 321 |  |  |  |
Unrealized (gain) loss in fair value of investment adjustments(a) | $ | (23) |  | $ | 57 |  |  |  |
Income tax expense (benefit)(b) | 5 |  | (12) |  |  |  |
Net of tax | $ | (18) |  | $ | 45 |  |  |  |
___________________________________________________________________________________________________ (a)Amounts included in other income, net on the Condensed Consolidated Statements of Income. (b)Amounts included in income tax expense on the Condensed Consolidated Statements of Income.

X
- References No definition available. + Details
Name: | us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTaxAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of accumulated other comprehensive income (loss). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 14A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482790/220-10-45-14A Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 830 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481674/830-30-50-1 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 830 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 20 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481694/830-30-45-20 + Details
Name: | us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 1 -Section 45 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482790/220-10-45-1 + Details
Name: | us-gaap_ScheduleOfComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration