Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2019

Stockholders' Equity Note [Abstract]

The components of OCI follow:



										As Restated
	Year Ended December 31,
	2019									2018									2017
(in thousands)	Before-Tax Amount			Tax (Expense) Benefit			Net-of-Tax Amount			Before-Tax Amount			Tax (Expense) Benefit			Net-of-Tax Amount			Before-Tax Amount			Tax (Expense) Benefit			Net-of-Tax Amount
OCI:
Foreign currency translation adjustments	$	101,096		$	(35,596	)	$	65,500		$	(116,775	)	$	16,214		$	(100,561	)	$	109,990		$	(35,867	)	$	74,123
Ownership share of equity method investees' OCI	(15,630		)	3,846			(11,784		)	12,118			(3,176		)	8,942			(1,163		)	462			(701		)
Defined benefit pension and postretirement plan adjustments	150,427			(44,975		)	105,452			(59,920		)	7,329			(52,591		)	22,052			(6,443		)	15,609
Unrealized gain (loss) on derivative contracts	4,734			(1,594		)	3,140			1,490			(1,216		)	274			7,593			(2,850		)	4,743
Unrealized gain (loss) on available-for-sale securities	—			—			—			1,134			(425		)	709			(711		)	267			(444		)
Total OCI	240,627			(78,319		)	162,308			(161,953		)	18,726			(143,227		)	137,761			(44,431		)	93,330
Less: OCI attributable to NCI	(1,350		)	—			(1,350		)	(2,239		)	—			(2,239		)	(796		)	—			(796		)
OCI attributable to Fluor Corporation	$	241,977		$	(78,319	)	$	163,658		$	(159,714	)	$	18,726		$	(140,988	)	$	138,557		$	(44,431	)	$	94,126

The changes in AOCI balances follow:



(in thousands)	Foreign Currency Translation			Ownership Share of Equity Method Investees' OCI			Defined Benefit Pension and Postretirement Plans			Unrealized Gain (Loss) on Derivative Contracts			Unrealized Gain (Loss) on Available- for-Sale Securities		Accumulated OCI, Net
Attributable to Fluor Corporation:
Balance as of December 31, 2018 (As restated)	$	(309,800	)	$	(23,672	)	$	(204,649	)	$	(5,410	)	$	—	$	(543,531	)
OCI before reclassifications	19,957			(12,304		)	4,006			1,503			—		13,162
Amounts reclassified from AOCI	46,893			520			101,446			1,637			—		150,496
Net OCI	66,850			(11,784		)	105,452			3,140			—		163,658
Balance as of December 31, 2019	$	(242,950	)	$	(35,456	)	$	(99,197	)	$	(2,270	)	$	—	$	(379,873	)
Attributable to NCI:
Balance as of December 31, 2018	$	(3,701	)	$	—		$	—		$	—		$	—	$	(3,701	)
OCI before reclassifications	(1,350		)	—			—			—			—		(1,350		)
Amount reclassified from AOCI	—			—			—			—			—		—
Net OCI	(1,350		)	—			—			—			—		(1,350		)
Balance as of December 31, 2019	$	(5,051	)	$	—		$	—		$	—		$	—	$	(5,051	)



	As Restated															As Restated
(in thousands)	Foreign Currency Translation			Ownership Share of Equity Method Investees' OCI			Defined Benefit Pension and Postretirement Plans			Unrealized Gain (Loss) on Derivative Contracts			Unrealized Gain (Loss) on Available- for-Sale Securities			Accumulated OCI, Net
Attributable to Fluor Corporation:
Balance as of December 31, 2017	$	(211,478	)	$	(32,614	)	$	(152,058	)	$	(5,684	)	$	(709	)	$	(402,543	)
OCI before reclassifications	(98,322		)	7,986			(77,209		)	(5,207		)	—			(172,752		)
Amounts reclassified from AOCI	—			956			24,618			5,481			709			31,764
Net OCI	(98,322		)	8,942			(52,591		)	274			709			(140,988		)
Balance as of December 31, 2018	$	(309,800	)	$	(23,672	)	$	(204,649	)	$	(5,410	)	$	—		$	(543,531	)
Attributable to NCI:
Balance as of December 31, 2017	$	(1,462	)	$	—		$	—		$	—		$	—		$	(1,462	)
OCI before reclassifications	(2,239		)	—			—			—			—			(2,239		)
Amount reclassified from AOCI	—			—			—			—			—			—
Net OCI	(2,239		)	—			—			—			—			(2,239		)
Balance as of December 31, 2018	$	(3,701	)	$	—		$	—		$	—		$	—		$	(3,701	)



	As Restated															As Restated
(in thousands)	Foreign Currency Translation			Ownership Share of Equity Method Investees' OCI			Defined Benefit Pension and Postretirement Plans			Unrealized Gain (Loss) on Derivative Contracts			Unrealized Gain (Loss) on Available- for-Sale Securities			Accumulated OCI, Net
Attributable to Fluor Corporation:
Balance as of December 31, 2016	$	(286,449	)	$	(31,913	)	$	(167,667	)	$	(10,375	)	$	(265	)	$	(496,669	)
OCI before reclassifications	74,971			(2,001		)	11,456			5,499			(497		)	89,428
Amounts reclassified from AOCI	—			1,300			4,153			(808		)	53			4,698
Net OCI	74,971			(701		)	15,609			4,691			(444		)	94,126
Balance as of December 31, 2017	$	(211,478	)	$	(32,614	)	$	(152,058	)	$	(5,684	)	$	(709	)	$	(402,543	)
Attributable to NCI:
Balance as of December 31, 2016	$	(614	)	$	—		$	—		$	(52	)	$	—		$	(666	)
OCI before reclassifications	(848		)	—			—			13			—			(835		)
Amount reclassified from AOCI	—			—			—			39						39
Net OCI	(848		)	—			—			52			—			(796		)
Balance as of December 31, 2017	$	(1,462	)	$	—		$	—		$	—		$	—		$	(1,462	)

The reclassifications out of AOCI follow:



	Location in Consolidated Statement of Operations	Year Ended December 31,
(in thousands)	Location in Consolidated Statement of Operations	2019			2018			2017
Component of AOCI:
Foreign currency translation adjustment	Impairment, restructuring & other exit costs	$	(84,286	)	$	—		$	—
Income tax benefit	Income tax expense	37,393			—			—
Net of tax		$	(46,893	)	$	—		$	—

Ownership share of equity method investees' OCI	Cost of revenue	$	(695	)	$	(1,297	)	$	(1,713	)
Income tax benefit	Income tax expense	175			341			413
Net of tax		$	(520	)	$	(956	)	$	(1,300	)

Defined benefit pension plan adjustments	Various accounts⁽¹⁾	$	(146,579	)	$	(28,730	)	$	(6,638	)
Income tax benefit	Income tax expense	45,133			4,112			2,485
Net of tax		$	(101,446	)	$	(24,618	)	$	(4,153	)

Unrealized gain (loss) on derivative contracts:
Commodity and foreign currency contracts	Various accounts⁽²⁾	$	(1,370	)	$	(6,540	)	$	2,956
Interest rate contracts	Interest expense	(1,678		)	(1,678		)	(1,678		)
Income tax benefit (expense)	Income tax expense	1,411			2,737			(509		)
Net of tax:		(1,637		)	(5,481		)	769
Less: NCI	Net earnings attributable to NCI	—			—			(39		)
Net of tax and NCI		$	(1,637	)	$	(5,481	)	$	808

Unrealized loss on available-for-sale securities	Corporate G&A	$	—		$	(1,134	)	$	(85	)
Income tax benefit	Income tax expense	—			425			32
Net of tax		$	—		$	(709	)	$	(53	)


(1)	Defined benefit pension plan adjustments were reclassified to "Corporate G&A" and "Loss on pension settlement".


(2)	Gains and losses on commodity and foreign currency derivative contracts were reclassified to "Cost of revenue" and "Corporate G&A".

As a result of the Tax Cuts and Jobs Act, certain income tax effects related to items in AOCI have been stranded in AOCI, and we did not elect to reclassify these stranded tax effects to retained earnings. The tax effects remaining in AOCI are released only when all related units of account are liquidated, sold or extinguished (i.e., the portfolio approach).