Other Comprehensive Income (Loss) - (Tables)

3 Months Ended

Mar. 31, 2020

Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]

Schedule of tax effects of components of other comprehensive income (loss)

The components of OCI follow:

	Three Months Ended March 31, 2020									Three Months Ended March 31, 2019
(in thousands)	Before-Tax Amount			Tax Benefit (Expense)			Net-of-Tax Amount			Before-Tax Amount			Tax Benefit (Expense)			Net-of-Tax Amount
OCI:
Foreign currency translation adjustments	$	(111,101	)	$	—		$	(111,101	)	$	44,210		$	(2,014	)	$	42,196
Ownership share of equity method investees’ OCI	(2,519		)	(5,653		)	(8,172		)	(3,495		)	1,173			(2,322		)
Defined benefit pension and postretirement plan adjustments	1,002			44			1,046			2,210			(146		)	2,064
Unrealized gain (loss) on derivative contracts	(5,874		)	404			(5,470		)	4,634			(1,177		)	3,457
Total OCI	(118,492		)	(5,205		)	(123,697		)	47,559			(2,164		)	45,395
Less: OCI attributable to NCI	(4,217		)	—			(4,217		)	485			—			485
OCI attributable to Fluor Corporation	$	(114,275	)	$	(5,205	)	$	(119,480	)	$	47,074		$	(2,164	)	$	44,910

Schedule of changes in accumulated other comprehensive income balances by component (after-tax)

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			Accumulated OCI, Net
Attributable to Fluor Corporation:
Balance as of December 31, 2019	$	(242,950	)	$	(35,456	)	$	(99,197	)	$	(2,270	)	$	(379,873	)
OCI before reclassifications	(106,884		)	(8,313		)	—			(5,251		)	(120,448		)
Amounts reclassified from AOCI	—			141			1,046			(219		)	968
Net OCI	(106,884		)	(8,172		)	1,046			(5,470		)	(119,480		)
Balance as of March 31, 2020	$	(349,834	)	$	(43,628	)	$	(98,151	)	$	(7,740	)	$	(499,353	)
Attributable to NCI:
Balance as of December 31, 2019	$	(5,051	)	$	—		$	—		$	—		$	(5,051	)
OCI before reclassifications	(4,217		)	—			—			—			(4,217		)
Amounts reclassified from AOCI	—			—			—			—			—
Net OCI	(4,217		)	—			—			—			(4,217		)
Balance as of March 31, 2020	$	(9,268	)	$	—		$	—		$	—		$	(9,268	)
Attributable to Fluor Corporation:
Balance as of December 31, 2018	$	(309,800	)	$	(23,672	)	$	(204,649	)	$	(5,410	)	$	(543,531	)
OCI before reclassifications	41,711			(2,464		)	—			2,696			41,943
Amounts reclassified from AOCI	—			142			2,064			761			2,967
Net OCI	41,711			(2,322		)	2,064			3,457			44,910
Balance as of March 31, 2019	$	(268,089	)	$	(25,994	)	$	(202,585	)	$	(1,953	)	$	(498,621	)
Attributable to NCI:
Balance as of December 31, 2018	$	(3,701	)	$	—		$	—		$	—		$	(3,701	)
OCI before reclassifications	485			—			—			—			485
Amounts reclassified from AOCI	—			—			—			—			—
Net OCI	485			—			—			—			485
Balance as of March 31, 2019	$	(3,216	)	$	—		$	—		$	—		$	(3,216	)

Schedule of significant items reclassified out of AOCI and corresponding location and impact

The reclassifications out of AOCI follow:

	Location in Statement of Operations	Three Months Ended March 31,
(in thousands)		2020			2019
Component of AOCI:
Ownership share of equity method investees’ OCI	Cost of revenue	$	(188	)	$	(189	)
Income tax benefit	Income tax expense (benefit)	47			47
Net of tax		$	(141	)	$	(142	)
Defined benefit pension plan adjustments	Corporate G&A	$	(1,002	)	$	(2,210	)
Income tax benefit (expense)	Income tax expense (benefit)	(44		)	146
Net of tax		$	(1,046	)	$	(2,064	)
Unrealized gain (loss) on derivative contracts:
Commodity and foreign currency contracts	Various accounts(1)	$	642		$	(845	)
Interest rate contracts	Interest expense	(419		)	(420		)
Income tax benefit (expense)	Income tax expense (benefit)	(4		)	504
Net of tax		$	219		$	(761	)

(1)

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