XML 53 R39.htm IDEA: XBRL DOCUMENT v3.25.2

Other Comprehensive Income (Loss) (Tables)

6 Months Ended

Jun. 30, 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 and six months ended June 30, 2025 and 2024 were as follows:

			Three Months Ended June 30, 2025												Three Months Ended June 30, 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			$	395		$	(106)		$	289					$	438		$	(117)		$	321
Foreign currency translation adjustments			2,477			(333)			2,144						(869)			166			(703)
Unrealized gain in fair value of investments			1,033			(204)			829						153			(28)			125
Total other comprehensive income (loss)			3,905			(643)			3,262						(278)			21			(257)
Less: Other comprehensive income (loss) attributable to noncontrolling interests			1,316			—			1,316						(193)			—			(193)
Total other comprehensive income (loss) attributable to Tutor Perini Corporation			$	2,589		$	(643)		$	1,946					$	(85)		$	21		$	(64)

			Six Months Ended June 30, 2025												Six Months Ended June 30, 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			$	808		$	(217)		$	591					$	875		$	(233)		$	642
Foreign currency translation adjustments			3,264			(451)			2,813						(1,951)			321			(1,630)
Unrealized gain (loss) in fair value of investments			2,677			(543)			2,134						(148)			37			(111)
Total other comprehensive income (loss)			6,749			(1,211)			5,538						(1,224)			125			(1,099)
Less: Other comprehensive income (loss) attributable to noncontrolling interests			1,794			—			1,794						(660)			—			(660)
Total other comprehensive income (loss) attributable to Tutor Perini Corporation			$	4,955		$	(1,211)		$	3,744					$	(564)		$	125		$	(439)

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 and six months ended June 30, 2025 and 2024 were as follows:

			Three Months Ended June 30, 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 March 31, 2025			$	(23,270)		$	(8,344)		$	(576)		$	(32,190)
Other comprehensive income before reclassifications			—			914			743			1,657
Amounts reclassified from AOCI			289			—			—			289
Total other comprehensive income			289			914			743			1,946
Balance as of June 30, 2025			$	(22,981)		$	(7,430)		$	167		$	(30,244)
Attributable to Noncontrolling Interests:
Balance as of March 31, 2025			$	—		$	(2,067)		$	62		$	(2,005)
Other comprehensive income			—			1,230			86			1,316
Balance as of June 30, 2025			$	—		$	(837)		$	148		$	(689)

			Six Months Ended June 30, 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			—			1,227			1,944			3,171
Amounts reclassified from AOCI			591			—			(18)			573
Total other comprehensive income			591			1,227			1,926			3,744
Balance as of June 30, 2025			$	(22,981)		$	(7,430)		$	167		$	(30,244)
Attributable to Noncontrolling Interests:
Balance as of December 31, 2024			$	—		$	(2,423)		$	(60)		$	(2,483)
Other comprehensive income			—			1,586			208			1,794
Balance as of June 30, 2025			$	—		$	(837)		$	148		$	(689)

			Three Months Ended June 30, 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 March 31, 2024			$	(29,033)		$	(7,321)		$	(3,808)		$	(40,162)
Other comprehensive income (loss) before reclassifications			—			(463)			108			(355)
Amounts reclassified from AOCI			321			—			(30)			291
Total other comprehensive income (loss)			321			(463)			78			(64)
Balance as of June 30, 2024			$	(28,712)		$	(7,784)		$	(3,730)		$	(40,226)
Attributable to Noncontrolling Interests:
Balance as of March 31, 2024			$	—		$	(811)		$	(387)		$	(1,198)
Other comprehensive income (loss)			—			(240)			47			(193)
Balance as of June 30, 2024			$	—		$	(1,051)		$	(340)		$	(1,391)

			Six Months Ended June 30, 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			—			(891)			(205)			(1,096)
Amounts reclassified from AOCI			642			—			15			657
Total other comprehensive income (loss)			642			(891)			(190)			(439)
Balance as of June 30, 2024			$	(28,712)		$	(7,784)		$	(3,730)		$	(40,226)
Attributable to Noncontrolling Interests:
Balance as of December 31, 2023			$	—		$	(312)		$	(419)		$	(731)
Other comprehensive income (loss)			—			(739)			79			(660)
Balance as of June 30, 2024			$	—		$	(1,051)		$	(340)		$	(1,391)

The significant items reclassified out of AOCI and the corresponding location and impact on the Condensed Consolidated Statements of Income during the three and six months ended June 30, 2025 and 2024 were as follows:

			Three Months Ended June 30,									Six Months Ended June 30,
(in thousands)			2025			2024						2025			2024
Component of AOCI:
Defined benefit pension plan adjustments(a)			$	395		$	438					$	808		$	875
Income tax benefit(b)			(106)			(117)						(217)			(233)
Net of tax			$	289		$	321					$	591		$	642
Unrealized (gain) loss in fair value of investment adjustments(a)			$	—		$	(38)					$	(23)		$	19
Income tax expense (benefit)(b)			—			8						5			(4)
Net of tax			$	—		$	(30)					$	(18)		$	15

___________________________________________________________________________________________________

(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