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Operating Information by Segment and Geographic Area
9 Months Ended
Sep. 30, 2022
Segment Reporting [Abstract]  
Operating Information by Segment and Geographic Area Operating Information by Segment and Geographic Area
3ME
September 30,
9ME
September 30,
(in millions)2022202120222021
Revenue
Energy Solutions$1,592 $1,365 $4,097 $3,675 
Urban Solutions982 1,015 2,946 3,419 
Mission Solutions639 723 1,779 2,184 
Other399 400 1,212 1,256 
Total revenue$3,612 $3,503 $10,034 $10,534 
Segment profit (loss)
Energy Solutions$59 $72 $177 $184 
Urban Solutions(54)18 (31)(21)
Mission Solutions29 28 115 117 
Other(3)(2)(8)(8)
Total segment profit (loss)$31 $116 $253 $272 
G&A(30)(44)(146)(144)
Impairment— (5)63 (153)
Foreign currency gain (loss)34 37 51 (4)
Interest income (expense), net14 (33)(63)
Earnings (loss) from Cont Ops attributable to NCI(46)(3)(31)22 
Earnings (loss) from Cont Ops before taxes$$68 $194 $(70)
Energy Solutions. Segment profit in the 2022 Quarter and 2022 Period included losses of $5 million and $1 million, respectively, related to an embedded foreign currency derivative. Segment profit in the 2021 Quarter and 2021 Period included a gain of $18 million and a loss of $30 million, respectively, related to the embedded derivative.
Urban Solutions. Segment profit for the 2022 Quarter included a $64 million (or $0.37 per share) charge for additional rework and schedule delays on a highway project, a $22 million (or $0.09 per share) charge for cost growth and delay mitigation costs on an international bridge project and a $21 million (or $0.12 per share) charge for subcontractor cost escalation and productivity estimates on an automated people mover project. Segment profit for the 2021 Quarter included forecast revisions for schedule delays and productivity on a light rail project. Segment profit for the 2022 Period included a $86 million (or $0.50 per share) charge for additional rework and schedule delays on a highway project, a $54 million (or $0.23 per share) charge for cost growth and delay mitigation costs on an international bridge project and a $35 million (or $0.20 per share) charge for subcontractor cost escalation and productivity estimates on an automated people mover project. Segment profit for the 2021 Period included a project charge of $138 million (or $0.72 per share) related to procurement and subcontractor cost growth, delays and disruptions in the schedule of the international bridge project. We continue to analyze the recoverability of these costs as claims, which could be material.
Other. Segment profit (loss) for NuScale, Stork and AMECO follows:
3ME
September 30,
9ME
September 30,
(in millions)2022202120222021
NuScale$(15)$(8)$(44)$(43)
Stork26 26 
AMECO(2)10 
Segment profit (loss)$(3)$(2)$(8)$(8)
In April 2022, we sold approximately 5% of the ownership of NuScale to Japan NuScale Innovation, LLC for $107 million, subject to CFIUS review. The sale did not trigger any recognition of gain or loss because we control and consolidate NuScale before and after the sale. We have recorded $107 million as temporary APIC on our balance sheet as of September 30, 2022, which would become permanent APIC upon CFIUS approval. If CFIUS does not approve the sale, then these amounts will be repaid to the buyer. We expect CFIUS review to be completed in the fourth quarter of 2022 or early 2023.
Total assets by segment are as follows:
(in millions)September 30,
2022
December 31,
2021
Energy Solutions$979 $1,158 
Urban Solutions1,052 906 
Mission Solutions500 764 
Other679 667 
Corporate3,660 3,594 
Total assets$6,870 $7,089 
Revenue by project location follows:
3ME
September 30,
9ME
September 30,
(in millions)2022202120222021
North America$2,317 $2,106 $6,326 $6,361 
Asia Pacific (includes Australia)351 273 803 1,053 
Europe559 602 1,704 1,620 
Central and South America327 449 1,034 1,228 
Middle East and Africa58 73 167 272 
Total revenue$3,612 $3,503 $10,034 $10,534