XML 24 R11.htm IDEA: XBRL DOCUMENT v3.23.1
Operating Information by Segment and Geographic Area
 3 Months Ended
Mar. 31, 2023
Segment Reporting [Abstract]  
Operating Information by Segment and Geographic Area Operating Information by Segment and Geographic Area
We have decided to retain Stork's North American operations, which largely consists of our operations and maintenance business owned by Fluor prior to our acquisition of Stork. Beginning in the 2023 Quarter, this business line, renamed Plant & Facility Services, is included in our Urban Solutions segment for all periods presented.
3ME
March 31,
(in millions)20232022
Revenue
Energy Solutions$1,612 $1,174 
Urban Solutions1,208 1,061 
Mission Solutions649 593 
Other283 294 
Total revenue$3,752 $3,122 
Segment profit (loss) 
Energy Solutions$88 $54 
Urban Solutions(20)17 
Mission Solutions7 58 
Other(90)(14)
Total segment profit (loss)$(15)$115 
G&A(62)(71)
Impairment — 63 
Foreign currency loss(41)(19)
Interest income (expense), net41 (9)
Earnings (loss) attributable to NCI (23)8 
Earnings (loss) before taxes$(100)$87 
Energy Solutions. Segment profit in the 2023 Quarter included a favorable foreign currency remeasurement effect totaling $22 million (or $0.09 per share) on a project with multiple currencies. Segment profit in the 2023 Quarter and 2022 Quarter included expense of $39 million and $13 million, respectively, related to embedded foreign currency derivatives.
Urban Solutions. Segment profit in the 2023 Quarter included a $59 million (or $0.34 per share) charge for rework associated with subcontractor design errors, related schedule impacts and system integration testing timelines on the LAX Automated People Mover project. Intercompany revenue for our professional staffing business, excluded from the amounts shown above, was $69 million and $60 million for the 2023 Quarter and 2022 Quarter, respectively.
Mission Solutions. Segment profit in the 2023 Quarter included a $21 million (or $0.12 per share) charge for cost growth resulting from government directed change orders and the associated schedule delays on a weapons facility project.
Other. Segment profit (loss) for NuScale, Stork and AMECO follows:
3ME
March 31,
(in millions)20232022
NuScale(1)
$(29)$(21)
Stork1 4 
AMECO(62)3 
Segment profit (loss)$(90)$(14)
(1) As of March 31, 2023, we had an approximate 56% ownership in NuScale.
In March 2023, we sold our AMECO South America business, which included operations in Chile and Peru. This transaction marks the completion of the AMECO divestiture for total proceeds of $144 million, including $17 million during the 2023 Quarter. Previous AMECO divestitures included assets in Africa, the Caribbean, Mexico and North America. Upon the sale of AMECO South America in the 2023 Quarter, we recognized a $60 million negative earnings impact, including $35 million for foreign currency translation.
Total assets by segment are as follows:
(in millions)March 31,
2023		December 31,
2022
Energy Solutions$1,021 $967 
Urban Solutions1,215 1,170 
Mission Solutions572 485 
Other516 583 
Corporate3,306 3,622 
Total assets$6,630 $6,827 
Revenue by project location follows:
3ME
March 31,
(in millions)20232022
North America$2,651 $1,908 
Asia Pacific (including Australia)324 249 
Europe512 549 
Central and South America221 351 
Middle East and Africa44 65 
Total revenue$3,752 $3,122