Cover
| Cover - shares | 3 Months Ended | |
| Mar. 31, 2021 | Apr. 30, 2021 | |
| Cover [Abstract] | ||
| Document Type | 10-Q | |
| Document Quarterly Report | true | |
| Document Period End Date | Mar. 31, 2021 | |
| Document Transition Report | false | |
| Entity File Number | 1-16129 | |
| Entity Registrant Name | FLUOR CORPORATION | |
| Entity Incorporation, State or Country Code | DE | |
| Entity Tax Identification Number | 33-0927079 | |
| Entity Address, Address Line One | 6700 Las Colinas Boulevard | |
| Entity Address, City or Town | Irving, | |
| Entity Address, State or Province | TX | |
| Entity Address, Postal Zip Code | 75039 | |
| City Area Code | 469 | |
| Local Phone Number | 398-7000 | |
| Title of 12(b) Security | Common Stock, $.01 par value per share | |
| Trading Symbol | FLR | |
| Security Exchange Name | NYSE | |
| Entity Current Reporting Status | Yes | |
| Entity Interactive Data Current | Yes | |
| Entity Filer Category | Large Accelerated Filer | |
| Entity Small Business | false | |
| Entity Emerging Growth Company | false | |
| Entity Shell Company | false | |
| Entity Common Stock, Shares Outstanding | 141,339,543 | |
| Entity Central Index Key | 0001124198 | |
| Amendment Flag | false | |
| Current Fiscal Year End Date | --12-31 | |
| Document Fiscal Year Focus | 2021 | |
| Document Fiscal Period Focus | Q1 |
CONDENSED CONSOLIDATED STATEMEN
| CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS - Unaudited - USD ($) $ in Thousands | 3 Months Ended | |
| Mar. 31, 2021 | Mar. 31, 2020 | |
| Income Statement [Abstract] | ||
| Revenue | $ 2,938,526 | $ 3,697,694 |
| Cost of revenue | 2,845,750 | 3,633,848 |
| Gross profit | 92,776 | 63,846 |
| Corporate G&A | (65,594) | (33,558) |
| Impairment, restructuring and other exit costs | (26,392) | (102,365) |
| Foreign currency gain (loss) | (11,270) | 45,162 |
| Operating profit | (10,480) | (26,915) |
| Interest expense | (20,724) | (16,551) |
| Interest income | 3,649 | 11,925 |
| Earnings (loss) from Cont Ops before taxes | (27,555) | (31,541) |
| Income tax expense (benefit) | 598 | (62,281) |
| Net earnings (loss) from Cont Ops | (28,153) | 30,740 |
| Net earnings (loss) from Disc Ops | (25,759) | (287,190) |
| Net earnings (loss) | (53,912) | (256,450) |
| Less: Net earnings (loss) attributable to NCI from Cont Ops | 32,819 | 9,132 |
| Net earnings (loss) attributable to Fluor from Cont Ops | (60,972) | 21,608 |
| Less: Net earnings (loss) attributable to NCI from Disc Ops | 293 | 377 |
| Net earnings (loss) attributable to Fluor from Disc Ops | (26,052) | (287,567) |
| Net earnings (loss) attributable to Fluor | $ (87,024) | $ (265,959) |
| Basic earnings (loss) per share attributable to Fluor | ||
| Earnings (loss) from Cont Ops (in dollars per share) | $ (0.43) | $ 0.15 |
| Earnings (loss) from Disc Ops (in dollars per share) | (0.19) | (2.05) |
| Net earnings (loss) (in dollars per share) | (0.62) | (1.90) |
| Diluted earnings (loss) per share attributable to Fluor | ||
| Earnings (loss) from Cont Ops (in dollars per share) | (0.43) | 0.15 |
| Earnings (loss) from Disc Ops (in dollars per share) | (0.19) | (2.05) |
| Net earnings (loss) (in dollars per share) | $ (0.62) | $ (1.90) |
CONDENSED CONSOLIDATED STATEM_2
| CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (LOSS) - Unaudited - USD ($) $ in Thousands | 3 Months Ended | |
| Mar. 31, 2021 | Mar. 31, 2020 | |
| Statement of Comprehensive Income [Abstract] | ||
| Net earnings (loss) | $ (53,912) | $ (256,450) |
| OCI, net of tax: | ||
| Foreign currency translation adjustment | 2,699 | (111,101) |
| Ownership share of equity method investees’ OCI | (2,064) | (8,172) |
| DB plan adjustments | 1,651 | 1,046 |
| Unrealized gain (loss) on hedges | (3,051) | (5,470) |
| Total OCI, net of tax | (765) | (123,697) |
| Comprehensive income (loss) | (54,677) | (380,147) |
| Less: Comprehensive income (loss) attributable to NCI | 32,910 | 5,292 |
| Comprehensive income (loss) attributable to Fluor | $ (87,587) | $ (385,439) |
CONDENSED CONSOLIDATED BALANCE
| CONDENSED CONSOLIDATED BALANCE SHEET - Unaudited - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
| Current assets | ||
| Cash and cash equivalents ($608,448 and $654,852 related to VIEs) | $ 1,937,800 | $ 2,198,781 |
| Marketable securities ($66 related to VIEs in both periods) | 18,698 | 23,345 |
| Accounts and notes receivable, net ($219,061 and $238,376 related to VIEs) | 862,305 | 935,676 |
| Contract assets | 1,007,283 | 859,675 |
| Other current assets ($27,914 and $29,408 related to VIEs) | 385,359 | 378,043 |
| Current assets held for sale | 958,092 | 638,489 |
| Total current assets | 5,169,537 | 5,034,009 |
| Noncurrent assets | ||
| Property, plant and equipment ($36,830 and $34,847 related to VIEs) | 456,733 | 463,827 |
| Goodwill | 206,958 | 207,369 |
| Investments | 520,995 | 527,416 |
| Deferred taxes | 81,376 | 77,915 |
| Deferred compensation trusts | 313,659 | 350,427 |
| Other assets ($40,919 and $40,829 related to VIEs) | 271,657 | 269,610 |
| Noncurrent assets held for sale | 0 | 379,239 |
| Total noncurrent assets | 1,851,378 | 2,275,803 |
| Total assets | 7,020,915 | 7,309,812 |
| Current liabilities | ||
| Accounts payable ($290,920 and $328,940 related to VIEs) | 1,102,174 | 1,115,625 |
| Short-term borrowings | 4,704 | 4,890 |
| Contract liabilities ($253,006 and $262,811 related to VIEs) | 1,035,932 | 1,093,761 |
| Accrued salaries, wages and benefits ($24,702 and $28,381 related to VIEs) | 506,654 | 578,827 |
| Other accrued liabilities ($27,553 and $36,646 related to VIEs) | 296,357 | 376,451 |
| Current liabilities related to assets held for sale | 495,524 | 402,483 |
| Total current liabilities | 3,441,345 | 3,572,037 |
| Long-term debt | 1,678,496 | 1,701,098 |
| Deferred taxes | 77,583 | 80,745 |
| Other noncurrent liabilities ($9,264 and $9,164 related to VIEs) | 578,834 | 593,765 |
| Noncurrent liabilities related to assets held for sale | 0 | 98,940 |
| Contingencies and commitments | ||
| Shareholders’ equity | ||
| Preferred stock — authorized 20,000,000 shares ($0.01 par value); none issued | 0 | 0 |
| Common stock — authorized 375,000,000 shares ($0.01 par value); issued and outstanding — 141,339,543 and 140,715,205 shares in 2021 and 2020, respectively | 1,410 | 1,404 |
| Additional paid-in capital | 236,923 | 195,940 |
| AOCI | (417,469) | (416,906) |
| Retained earnings | 1,162,790 | 1,249,809 |
| Total shareholders’ equity | 983,654 | 1,030,247 |
| NCI | 261,003 | 232,980 |
| Total equity | 1,244,657 | 1,263,227 |
| Total liabilities and equity | $ 7,020,915 | $ 7,309,812 |
CONSOLIDATED BALANCE SHEET - Un
| CONSOLIDATED BALANCE SHEET - Unaudited (Parenthetical) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
| CURRENT ASSETS, VIEs | ||
| Cash and cash equivalents | $ 1,937,800 | $ 2,198,781 |
| Marketable securities, current | 18,698 | 23,345 |
| Accounts and Financing Receivable, after Allowance for Credit Loss, Current | 862,305 | 935,676 |
| Contract assets | 1,007,283 | 859,675 |
| Other Assets, Current | 385,359 | 378,043 |
| NONCURRENT ASSETS, VIEs | ||
| Property, Plant and Equipment, Net | 456,733 | 463,827 |
| Other Assets, Noncurrent | 271,657 | 269,610 |
| Liabilities, Current [Abstract] | ||
| Accounts Payable, Current | 1,102,174 | 1,115,625 |
| Contract liabilities | 1,035,932 | 1,093,761 |
| Employee-related Liabilities, Current | 506,654 | 578,827 |
| Other accrued liabilities | 296,357 | 376,451 |
| Other noncurrent liabilities | $ 578,834 | $ 593,765 |
| Stockholders' Equity Attributable to Parent [Abstract] | ||
| Preferred Stock, Shares Authorized | 20,000,000 | 20,000,000 |
| Preferred Stock, Par or Stated Value Per Share | $ 0.01 | $ 0.01 |
| Preferred Stock, Shares Issued | 0 | 0 |
| Common Stock, Shares Authorized | 375,000,000 | 375,000,000 |
| Common Stock, Par or Stated Value Per Share | $ 0.01 | $ 0.01 |
| Common Stock, Shares, Issued | 141,339,543 | 140,715,205 |
| Common Stock, Shares, Outstanding | 141,339,543 | 140,715,205 |
| Variable Interest Entity, Primary Beneficiary | ||
| CURRENT ASSETS, VIEs | ||
| Cash and cash equivalents | $ 608,448 | $ 654,852 |
| Marketable securities, current | 66 | 66 |
| Accounts and Financing Receivable, after Allowance for Credit Loss, Current | 219,061 | 238,376 |
| Contract assets | 364,234 | 237,923 |
| Other Assets, Current | 27,914 | 29,408 |
| NONCURRENT ASSETS, VIEs | ||
| Property, Plant and Equipment, Net | 36,830 | 34,847 |
| Other Assets, Noncurrent | 40,919 | 40,829 |
| Liabilities, Current [Abstract] | ||
| Accounts Payable, Current | 290,920 | 328,940 |
| Contract liabilities | 253,006 | 262,811 |
| Employee-related Liabilities, Current | 24,702 | 28,381 |
| Other accrued liabilities | 27,553 | 36,646 |
| Other noncurrent liabilities | $ 9,264 | $ 9,164 |
CONDENSED CONSOLIDATED STATEM_3
| CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - Unaudited - USD ($) $ in Thousands | 3 Months Ended | |
| Mar. 31, 2021 | Mar. 31, 2020 | |
| OPERATING CASH FLOW | ||
| Net earnings (loss) | $ (53,912) | $ (256,450) |
| Adjustments to reconcile net earnings (loss) to operating cash flow: | ||
| Impairment expense - Cont Ops | 26,392 | 102,365 |
| Impairment expense - Disc Ops | 20,500 | 295,239 |
| Depreciation | 23,720 | 26,528 |
| Amortization of intangibles | 280 | 2,189 |
| (Earnings) loss from equity method investments, net of distributions | 922 | 1,354 |
| (Gain) loss on sales of assets | 1,729 | (948) |
| Stock-based compensation | 10,193 | 5,977 |
| Deferred taxes | (5,494) | (5,055) |
| Net retirement plan expense (contributions) | (9,406) | (5,833) |
| Changes in assets and liabilities | (229,525) | (232,102) |
| Other | (15,952) | 2,993 |
| Operating cash flow | (230,553) | (63,743) |
| INVESTING CASH FLOW | ||
| Purchases of marketable securities | (6,335) | (6,115) |
| Proceeds from the sales and maturities of marketable securities | 11,066 | 6,921 |
| Capital expenditures | (30,141) | (30,094) |
| Proceeds from sales of property, plant and equipment | 8,301 | 13,465 |
| Investments in partnerships and joint ventures | (47,829) | (5,971) |
| Other | 433 | 56 |
| Investing cash flow | (64,505) | (21,738) |
| FINANCING CASH FLOW | ||
| Dividends paid | 0 | (14,700) |
| Other borrowings | 3,264 | 22,203 |
| Distributions paid to NCI | (8,418) | (2,751) |
| Capital contributions by NCI | 42,101 | 19,968 |
| Taxes paid on vested restricted stock | (4,037) | (1,208) |
| Other | (4,520) | (884) |
| Financing cash flow | 28,390 | 22,628 |
| Effect of exchange rate changes on cash | 5,687 | (63,472) |
| Increase (decrease) in cash and cash equivalents | (260,981) | (126,325) |
| Cash and cash equivalents at beginning of period | 2,198,781 | 1,997,199 |
| Cash and cash equivalents at end of period | $ 1,937,800 | $ 1,870,874 |
CONDENSED CONSOLIDATED STATEM_4
| CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY - Unaudited - USD ($) shares in Thousands, $ in Thousands | Total | Cumulative Effect, Period of Adoption, Adjustment | Total Shareholders' Equity | Total Shareholders' EquityCumulative Effect, Period of Adoption, Adjustment | Common Stock | Additional Paid-In Capital | AOCI | Retained Earnings | Retained EarningsCumulative Effect, Period of Adoption, Adjustment | NCI |
| BALANCE, beginning of year (in shares) at Dec. 31, 2019 | 140,174 | |||||||||
| Balance, beginning of year at Dec. 31, 2019 | $ 1,584,092 | $ (1,977) | $ 1,487,752 | $ (1,977) | $ 1,399 | $ 165,314 | $ (379,873) | $ 1,700,912 | $ (1,977) | $ 96,340 |
| Increase (Decrease) in Shareholders' Equity | ||||||||||
| Net earnings (loss) | (256,450) | (265,959) | (265,959) | 9,509 | ||||||
| OCI | (123,697) | (119,480) | (119,480) | (4,217) | ||||||
| Dividends | (14,131) | (14,131) | 0 | (14,131) | ||||||
| Distributions to NCI | (2,751) | (2,751) | ||||||||
| Capital contributions by NCI | 19,968 | 19,968 | ||||||||
| Other NCI transactions | 343 | 672 | 672 | (329) | ||||||
| Stock-based compensation (in shares) | 359 | |||||||||
| Stock-based compensation | 4,768 | 4,768 | $ 4 | 4,764 | ||||||
| BALANCE, end of year (in shares) at Mar. 31, 2020 | 140,533 | |||||||||
| Balance, end of year at Mar. 31, 2020 | 1,210,165 | 1,091,645 | $ 1,403 | 170,750 | (499,353) | 1,418,845 | 118,520 | |||
| BALANCE, beginning of year (in shares) at Dec. 31, 2020 | 140,715 | |||||||||
| Balance, beginning of year at Dec. 31, 2020 | 1,263,227 | 1,030,247 | $ 1,404 | 195,940 | (416,906) | 1,249,809 | 232,980 | |||
| Increase (Decrease) in Shareholders' Equity | ||||||||||
| Net earnings (loss) | (53,912) | (87,024) | (87,024) | 33,112 | ||||||
| OCI | (765) | (563) | (563) | (202) | ||||||
| Distributions to NCI | (8,418) | (8,418) | ||||||||
| Capital contributions by NCI | 42,101 | 42,101 | ||||||||
| Other NCI transactions | (4,227) | 34,343 | 34,343 | (38,570) | ||||||
| Stock-based compensation (in shares) | 625 | |||||||||
| Stock-based compensation | 6,651 | 6,651 | $ 6 | 6,640 | 5 | |||||
| BALANCE, end of year (in shares) at Mar. 31, 2021 | 141,340 | |||||||||
| Balance, end of year at Mar. 31, 2021 | $ 1,244,657 | $ 983,654 | $ 1,410 | $ 236,923 | $ (417,469) | $ 1,162,790 | $ 261,003 |
CONSOLIDATED STATEMENT OF CHANG
| CONSOLIDATED STATEMENT OF CHANGES IN EQUITY - Unaudited (Parenthetical) - $ / shares | 3 Months Ended | 12 Months Ended |
| Mar. 31, 2020 | Dec. 31, 2019 | |
| Statement of Stockholders' Equity [Abstract] | ||
| Accounting Standards Update [Extensible List] | us-gaap:AccountingStandardsUpdate201904Member | |
| Dividends (in dollars per share) | $ 0.10 |
Principles of Consolidation
| Principles of Consolidation | 3 Months Ended |
| Mar. 31, 2021 | |
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
| Principles of Consolidation | Principles of Consolidation These financial statements do not include footnotes and certain financial information normally presented annually under GAAP, and therefore, should be read in conjunction with our 2020 10-K. Accounting measurements at interim dates inherently involve greater reliance on estimates than at year-end. Although such estimates are based on management’s most recent assessment of the underlying facts and circumstances utilizing the most current information available, our reported results of operations may not necessarily be indicative of results that we expect for the full year. The financial statements included herein are unaudited. In management's opinion, they contain all adjustments of a normal recurring nature which are necessary to present fairly our financial position and our operating results as of and for the interim periods presented. All significant intercompany transactions of consolidated subsidiaries are eliminated. Certain amounts in 2020 have been reclassified to conform to the 2021 presentation, which includes the segregation of Disc Ops and assets and liabilities held for sale. Segment operating information for 2020 has been recast to reflect changes in the composition of our reportable segments during 2021. Certain amounts in tables may not total or agree back to the financial statements due to immaterial rounding differences. Management has evaluated all material events occurring subsequent to March 31, 2021 through the filing date of this Q1 2021 10-Q. Quarters are typically 13 weeks in length but, due to our fiscal year ending on December 31, the number of weeks in a reporting period may vary slightly during the year and for comparable prior year periods. We report our quarterly results of operations based on periods ending on the Sunday nearest March 31, June 30 and September 30, allowing for a 13-week quarter. For clarity of presentation, all periods are presented as if the periods ended on March 31, June 30 and September 30. |
Recent Accounting Pronouncement
| Recent Accounting Pronouncements | 3 Months Ended |
| Mar. 31, 2021 | |
| Accounting Standards Update and Change in Accounting Principle [Abstract] | |
| Recent Accounting Pronouncements | Recent Accounting Pronouncements Accounting pronouncements that were implemented by us during the 2021 Quarter In the first quarter of 2021, we adopted ASU 2020-06, “Accounting for Convertible Instruments and Contracts in an Entity's Own Equity,” which simplifies accounting for convertible instruments and the application of the derivatives scope exception for contracts in our own equity. ASU 2020-06 eliminates two of the three models in the current guidance that require separating embedded conversion features from convertible instruments and also eliminates some of the requirements for equity classification. ASU 2020-06 also addresses how convertible instruments are accounted for in the diluted EPS calculation. The adoption did not have any impact on our financial statements. |
Earnings Per Share
| Earnings Per Share | 3 Months Ended |
| Mar. 31, 2021 | |
| Earnings Per Share [Abstract] | |
| Earnings Per Share | Earnings Per Share Potentially dilutive securities include stock options, RSUs, restricted stock and performance-based award units. Diluted EPS reflects the assumed exercise or conversion of all dilutive securities using the treasury stock method. Three Months Ended (in thousands, except per share amounts) 2021 2020 Amounts attributable to Fluor: Net earnings (loss) from Cont Ops $ (60,972) $ 21,608 Net earnings (loss) from Disc Ops (26,052) (287,567) Net earnings (loss) $ (87,024) $ (265,959) Basic EPS attributable to Fluor: Weighted average common shares outstanding 140,900 140,262 Net earnings (loss) from Cont Ops $ (0.43) $ 0.15 Net earnings (loss) from Disc Ops (0.19) (2.05) Net earnings (loss) $ (0.62) $ (1.90) Diluted EPS attributable to Fluor: Weighted average common shares outstanding 140,900 140,262 Dilutive effects: Stock options, RSUs, restricted stock and performance-based award units (1) — — Weighted average diluted shares outstanding 140,900 140,262 Net earnings (loss) from Cont Ops $ (0.43) $ 0.15 Net earnings (loss) from Disc Ops (0.19) (2.05) Net earnings (loss) $ (0.62) $ (1.90) (1) Anti-dilutive securities not included in shares outstanding 1,900 438 |
Operating Information by Segmen
| Operating Information by Segment and Geographic Area | 3 Months Ended |
| Mar. 31, 2021 | |
| Segment Reporting [Abstract] | |
| Operating Information by Segment and Geographic Area | Operating Information by Segment and Geographic Area During the first quarter of 2021, we changed the composition of our segments to implement our new strategy and to pursue opportunities in our designated markets. We now report our operating results as follows: Energy Solutions, Urban Solutions, Mission Solutions and Other. Segment operating information and assets for 2020 have been recast to conform to these changes. Energy Solutions focuses on energy transition, chemicals, LNG, and traditional oil and gas opportunities. The segment is pursuing new opportunities emerging in the energy transition market including carbon capture, green chemicals, hydrogen, biofuels and other low carbon energy sources. The segment also continues to provide EPC services for the oil, gas and petrochemical industries. Urban Solutions focuses on mining, metals, advanced technologies, manufacturing, life sciences, infrastructure and professional staffing services. Mission Solutions focuses on federal agencies across the U.S. government and select international opportunities. These include, among others, the DOE, the Department of Defense, the Federal Emergency Management Agency and intelligence agencies. Mission Solutions includes the Radford and Warren projects which were previously reported in the Other segment. Other now includes only the operations of NuScale. Three Months Ended (in millions) 2021 2020 Revenue Energy Solutions $ 991.0 $ 1,359.3 Urban Solutions 1,194.2 1,592.2 Mission Solutions 753.3 746.2 Total revenue $ 2,938.5 $ 3,697.7 Segment profit (loss) Energy Solutions $ 2.2 $ (5.9) Urban Solutions 29.8 51.3 Mission Solutions 43.6 32.1 Other (15.7) (22.8) Total segment profit (loss) $ 59.9 $ 54.7 Corporate G&A (65.5) (33.6) Impairment, restructuring and other exit costs (26.4) (102.4) Foreign currency gain (loss) (11.3) 45.2 Interest income (expense), net (17.1) (4.6) Earnings (loss) attributable to NCI from Cont Ops 32.8 9.1 Earnings (loss) from Cont Ops before taxes $ (27.6) $ (31.6) Energy Solutions. Segment profit in the 2021 Quarter included an expense of $29 million related to an embedded foreign currency derivative. Segment profit in the 2020 Quarter included the adverse impacts of the recognition of reserves totaling $55 million for expected credit losses associated with certain joint venture clients, as well as margin diminution on a percentage-of-completion basis resulting from project positions taken with respect to COVID-19 related schedule delays and associated cost growth. Urban Solutions. Intercompany revenue for our professional staffing business, excluded from the amounts shown above, was $69 million and $77 million for the 2021 Quarter and 2020 Quarter, respectively. Other . NuScale expenses included in the determination of segment loss are reported net of qualified reimbursable expenses of $15 million and $13 million during the 2021 Quarter and 2020 Quarter, respectively. During the 2021 Quarter, JGC Holdings Corporation invested $40 million in NuScale. We and our advisors continue to engage with potential investors and capital providers to fund NuScale's path to commercialization. Total assets by segment are as follows: (in millions) March 31, December 31, Energy Solutions $ 1,017.6 $ 1,010.9 Urban Solutions 1,134.0 1,122.5 Mission Solutions 620.9 575.8 Other 37.8 37.8 Corporate 3,281.9 3,574.7 Disc Ops - Assets held for sale 928.7 988.1 Total assets $ 7,020.9 $ 7,309.8 Revenue by project location follows: Three Months Ended (in millions) 2021 2020 North America $ 1,971.6 $ 2,328.5 Asia Pacific (including Australia) 336.7 308.7 Europe 254.9 476.9 Central and South America 264.7 423.7 Middle East and Africa 110.6 159.9 Total revenue $ 2,938.5 $ 3,697.7 |
Impairment, Restructuring and O
| Impairment, Restructuring and Other Exit Costs | 3 Months Ended |
| Mar. 31, 2021 | |
| Restructuring and Related Activities [Abstract] | |
| Impairment, Restructuring and Other Exit Costs | Impairment, Restructuring and Other Exit Costs Impairment Impairment expense is summarized as follows: Three Months Ended (in thousands) 2021 2020 Impairment expense: Energy Solutions' equity method investments $ 26,392 $ 86,096 Information technology assets — 16,269 Total impairment expense $ 26,392 $ 102,365 Our business has been adversely affected by the economic impacts of the outbreak of COVID-19 and the steep decline in oil prices that occurred in the early part of 2020. These events have created significant uncertainty and economic volatility and disruption, which have impacted and may continue to impact our business. We have experienced, and may continue to experience, reductions in demand for certain of our services and the delay or abandonment of ongoing or anticipated projects due to our clients’, suppliers’ and other third parties’ diminished financial condition or financial distress, as well as governmental budget constraints. These impacts may continue or worsen under prolonged stay-at-home, social distancing, travel restrictions and other similar orders or restrictions. Significant uncertainty still exists concerning the magnitude of the impact and duration of these events. Because of these events, we performed interim impairment testing of our goodwill, intangible assets and investments during the 2020 Quarter. We recognized the above impairment expense on equity method investments and IT assets. We also recognized impairment expense on goodwill and intangible assets associated with the Stork business, now included in Disc Ops. The valuation of our equity method investments utilized unobservable Level 3 inputs based on the investee's forecast of anticipated volumes and overhead absorption in a cyclical business. Restructuring and Other Exit Costs During 2019, we initiated a restructuring plan designed to optimize costs and improve operational efficiency. These efforts primarily related to the rationalization of resources, investments, real estate and overhead across various geographies. Our recognition of costs for the planned restructuring activities was substantially completed by the end of 2020. The company did not recognize any material restructuring costs during the 2021 and 2020 Quarters. A reconciliation of our restructuring liability follows: (in thousands) Severance Lease Exit Costs Total Balance as of December 31, 2019 $ 30,479 $ 564 $ 31,043 Restructuring charges accrued during the period 3,720 334 4,054 Cash payments / settlements during the period (18,858) (793) (19,651) Currency translation 1,140 1 1,141 Balance as of December 31, 2020 $ 16,481 $ 106 $ 16,587 Cash payments / settlements during the period $ (6,332) $ — $ (6,332) Currency translation (650) — (650) Balance as of March 31, 2021 $ 9,499 $ 106 $ 9,605 |
Income Taxes
| Income Taxes | 3 Months Ended |
| Mar. 31, 2021 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Income Taxes The effective tax rate on earnings (loss) from Cont Ops for the 2021 Quarter was (2.2)% compared to 197.5% for the 2020 Quarter. The effective tax rate in 2021 was unfavorably impacted by the increase in the valuation allowances against certain deferred benefits, primarily related to US net operating losses. The effective tax rate in 2020 was favorably impacted by the effect of the CARES Act on us. This 2020 benefit was offset by an increase in the valuation allowance against foreign tax credit carryforwards and certain foreign losses, as well as a small addition to uncertain tax benefits. Earnings attributable to NCI from Cont Ops, for which income taxes are not typically our responsibility, favorably impacted the effective tax rate for the 2021 Quarter. |
Cash Paid for Interest and Taxe
| Cash Paid for Interest and Taxes | 3 Months Ended |
| Mar. 31, 2021 | |
| Supplemental Cash Flow Information [Abstract] | |
| Cash Paid for Interest and Taxes | Cash Paid for Interest and Taxes Three Months Ended March 31, (in thousands) 2021 2020 Cash paid for: Interest $ 29,784 $ 26,624 Income taxes (net of refunds) 31,794 7,486 |
Partnerships and Joint Ventures
| Partnerships and Joint Ventures | 3 Months Ended |
| Mar. 31, 2021 | |
| Equity Method Investments and Joint Ventures [Abstract] | |
| Partnerships and Joint Ventures | Partnerships and Joint Ventures In the normal course of business, we form partnerships or joint ventures primarily for the execution of single contracts or projects. The majority of these partnerships or joint ventures are characterized by a 50 percent or less noncontrolling ownership or participation interest with decision making and distribution of expected gains and losses typically being proportionate to the ownership or participation interest. Many of the partnership and joint venture agreements provide for capital calls to fund operations, as necessary. Accounts receivable related to work performed for unconsolidated partnerships and joint ventures included in “Accounts and notes receivable, net” was $215 million and $207 million as of March 31, 2021 and December 31, 2020, respectively. One of our more significant joint ventures is COOEC Fluor, in which we have a 49% ownership interest. COOEC Fluor owns, operates and manages the Zhuhai Fabrication Yard in China’s Guangdong province. We made a capital contribution of $26 million to the joint venture during the 2021 Quarter, which satisfied our contractual funding requirements. Variable Interest Entities We assess our partnerships and joint ventures at inception to determine if any meet the qualifications of a VIE. We consider a partnership or joint venture a VIE if it has any of the following characteristics: (a) the total equity investment is not sufficient to permit the entity to finance its activities without additional subordinated financial support, (b) characteristics of a controlling financial interest are missing (either the ability to make decisions through voting or other rights, the obligation to absorb the expected losses of the entity or the right to receive the expected residual returns of the entity), or (c) the voting rights of the equity holders are not proportional to their obligations to absorb the expected losses of the entity and/or their rights to receive the expected residual returns of the entity, and substantially all of the entity's activities either involve or are conducted on behalf of an investor that has disproportionately few voting rights. Upon the occurrence of certain events, we reassess our initial determination of whether the partnership or joint venture is a VIE. The majority of our partnerships and joint ventures qualify as VIEs because the total equity investment is typically nominal and not sufficient to permit the entity to finance its activities without additional subordinated financial support. We also perform a qualitative assessment of each VIE to determine if we are its primary beneficiary. We conclude that we are the primary beneficiary and consolidate the VIE if we have both: (a) the power to direct the economically significant activities of the entity and (b) the obligation to absorb losses of, or the right to receive benefits from, the entity that could potentially be significant to the VIE. We consider the contractual agreements that define the ownership structure, distribution of profits and losses, risks, responsibilities, indebtedness, voting rights and board representation of the respective parties in determining if we are the primary beneficiary. We also consider all parties that have direct or implicit variable interests when determining whether we are the primary beneficiary. Management's assessment of whether we are the primary beneficiary of a VIE is continuously performed. The aggregate carrying value of unconsolidated VIEs (classified under both "Investments” and “Other accrued liabilities”) was a net asset of $182 million and $174 million as of March 31, 2021 and December 31, 2020, respectively. Some of our VIEs have debt; however, such debt is typically non-recourse in nature. Our maximum exposure to loss as a result of our investments in unconsolidated VIEs is typically limited to the aggregate of the carrying value of the investment and future funding necessary to satisfy the contractual obligations of the VIE. Future funding commitments as of March 31, 2021 for the unconsolidated VIEs were $57 million. In some cases, we are required to consolidate certain VIEs. As of March 31, 2021, the carrying values of the assets and liabilities associated with the operations of the consolidated VIEs were $1.3 billion and $630 million, respectively. As of December 31, 2020, the carrying values of the assets and liabilities associated with the operations of the consolidated VIEs were $1.2 billion and $688 million, respectively. The assets of a VIE are restricted for use only for the particular VIE and are not available for our general operations. We have agreements with certain VIEs to provide financial or performance assurances to clients, as discussed elsewhere. |
Guarantees
| Guarantees | 3 Months Ended |
| Mar. 31, 2021 | |
| Guarantees [Abstract] | |
| Guarantees | GuaranteesIn the ordinary course of business, we enter into various agreements providing performance assurances and guarantees to our clients on behalf of certain unconsolidated and consolidated partnerships, joint ventures and other jointly executed contracts. These agreements are entered into primarily to support project execution commitments. Performance guarantees have various expiration dates ranging from mechanical completion of the project to a period extending beyond contract completion. The maximum potential amount of future payments that we could be required to make under outstanding performance guarantees, which represents the remaining cost of work to be performed, was estimated to be $16 billion as of March 31, 2021. For cost reimbursable contracts, amounts that may become payable pursuant to guarantee provisions are normally recoverable from the client for work performed. For lump-sum contracts, the performance guarantee amount is the cost to complete the contracted work, less amounts remaining to be billed to the client under the contract. Remaining billable amounts could be greater or less than the cost to complete. In those cases where costs exceed the remaining amounts payable under the contract, we may have recourse to third parties, such as owners, partners, subcontractors or vendors for claims. The performance guarantee obligation was not material as of March 31, 2021 and December 31, 2020. |
Contingencies and Commitments
| Contingencies and Commitments | 3 Months Ended |
| Mar. 31, 2021 | |
| Commitments and Contingencies Disclosure [Abstract] | |
| Contingencies and Commitments | Contingencies and Commitments We and certain of our subsidiaries are subject to litigation, claims and other commitments and contingencies arising in the ordinary course of business. Although the asserted value of these matters may be significant, we currently do not expect that the ultimate resolution of any open matters will have a material adverse effect on our financial position or results of operations. Since May 2018, purported shareholders have filed various complaints against Fluor and certain of its current and former executives in the U.S. District Court for the Northern District of Texas. The plaintiffs purport to represent a class of shareholders who purchased or otherwise acquired Fluor common stock from August 14, 2013 through February 14, 2020, and seek to recover damages arising from alleged violations of federal securities laws. These claims are based on statements concerning Fluor’s internal and disclosure controls, risk management, revenue recognition, and Fluor’s gas-fired power business, which plaintiffs assert were materially misleading . As of May 26, 2020, these complaints have been consolidated into one matter. We filed a motion to dismiss the matter on July 1, 2020. The motion was granted in part on May 5, 2021, and as a result the Court dismissed with prejudice all allegations except those relating to a single statement made in 2015 about one gas-fired power project. While no assurance can be given as to the ultimate outcome of this matter, we do not believe it is probable that a loss will be incurred. Accordingly, we have not recorded any liability as a result of this action. Since September 2018, ten separate purported shareholders' derivative actions were filed against current and former members of the Board of Directors, as well as certain of Fluor’s current and former executives. Fluor is named as a nominal defendant in the actions. These derivative actions purport to assert claims on behalf of Fluor and make substantially the same factual allegations as the securities class action matter discussed above and seek various forms of monetary and injunctive relief. These actions are pending in Texas state court (District Court for Dallas County), the U.S. District Court for the District of Delaware, the U.S. District Court for the Northern District of Texas, and the Court of Chancery of the State of Delaware. Certain of these actions were consolidated and stayed, at least while our motion to dismiss was pending in the securities class action matter. We anticipate seeking a further stay until final resolution of the securities class action. While no assurance can be given as to the ultimate outcome of this matter, we do not believe it is probable that a loss will be incurred. Accordingly, we have not recorded any liability as a result of these actions. Fluor Australia Ltd., our wholly-owned subsidiary (“Fluor Australia”), completed a cost reimbursable engineering, procurement and construction management services project for Santos Ltd. (“Santos”) involving a large network of natural gas gathering and processing facilities in Queensland, Australia. On December 13, 2016, Santos filed an action in Queensland Supreme Court against Fluor Australia, asserting various causes of action and seeking damages and/or a refund of contract proceeds paid of approximately AUD $1.47 billion. Santos has joined Fluor to the matter on the basis of a parent company guarantee issued for the project. We believe that the claims asserted by Santos are without merit and we are vigorously defending these claims. While no assurance can be given as to the ultimate outcome of this matter, we do not believe it is probable that a loss will be incurred. Accordingly, we have not recorded any liability as a result of this action. Fluor Limited, our wholly-owned subsidiary (“Fluor Limited”), and Fluor Arabia Limited, a partially-owned subsidiary (“Fluor Arabia”), completed cost reimbursable engineering, procurement and construction management services for Sadara Chemical Company (“Sadara”) involving a large petrochemical facility in Jubail, Kingdom of Saudi Arabia. On August 23, 2019, Fluor Limited and Fluor Arabia Limited commenced arbitration proceedings against Sadara after it refused to pay invoices totaling approximately $100 million due under the contracts. As part of the arbitration proceedings, Sadara has asserted various counterclaims for damages and/or a refund of contract proceeds paid totaling approximately $636 million against Fluor Limited and Fluor Arabia Limited. We believe that the counterclaims asserted by Sadara are without merit and are vigorously defending these claims. While no assurance can be given as to the ultimate outcome of the counterclaims, we do not believe it is probable that a loss will be incurred in excess of amounts reserved for this matter. Accordingly, we have not recorded any further liability as a result of the counterclaims. Various wholly-owned subsidiaries of Fluor, in conjunction with a partner, TECHINT, (“Fluor/TECHINT”) performed engineering, procurement and construction management services on a cost reimbursable basis for Barrick Gold Corporation involving a gold mine and ore processing facility on a site straddling the border between Argentina and Chile. In 2013 Barrick terminated the Fluor/TECHINT agreements for convenience and not due to the performance of Fluor/TECHINT. On August 12, 2016, Barrick filed a notice of arbitration against Fluor/TECHINT, demanding damages and/or a refund of contract proceeds paid of not less than $250 million under various claims relating to Fluor/TECHINT’s alleged performance. Proceedings were suspended while the parties explored a possible settlement. In August 2019, Barrick drew down $36 million of letters of credit from Fluor/TECHINT ($24 million from Fluor and $12 million from TECHINT). Thereafter, Barrick proceeded to reactivate the arbitration. In December 2020, Barrick and Fluor/TECHINT exchanged detailed statements of claim and counterclaim pursuant to which Barrick's claim against Fluor/TECHINT now totals approximately $330 million. We believe that the claims asserted by Barrick are without merit and are vigorously defending these claims. While no assurance can be given as to the ultimate outcome of this matter, we do not believe it is probable that a loss will be incurred. Accordingly, we have not recorded any liability as a result of these claims. Other Matters We periodically evaluate our positions and the amounts recognized with respect to all our claims and back charges. As of both March 31, 2021 and December 31, 2020, we had recorded $216 million of claim revenue for costs incurred to date. Additional costs, which will increase the claim revenue balance over time, are expected to be incurred in future periods. We had no material disputed back charges to suppliers or subcontractors as of March 31, 2021 and December 31, 2020. From time to time, we enter into contracts with the U.S. government and its agencies. Government contracts are subject to audits and investigations by government representatives with respect to our compliance with various restrictions and regulations applicable to government contractors, including but not limited to the allowability of costs incurred under reimbursable contracts. In connection with performing government contracts, we maintain reserves for estimated exposures associated with these matters. Our operations are subject to and affected by federal, state and local laws and regulations regarding the protection of the environment. We maintain reserves for potential future environmental cost where such obligations are either known or considered probable, and can be reasonably estimated. We believe that our reserves with respect to future environmental cost are adequate and such future cost will not have a material effect on our consolidated financial position or results of operations. |
Contract Assets and Liabilities
| Contract Assets and Liabilities | 3 Months Ended |
| Mar. 31, 2021 | |
| Revenue from Contract with Customer [Abstract] | |
| Contract Assets and Liabilities | Contract Assets and Liabilities The following summarizes information about our contract assets and liabilities: (in millions) March 31, December 31, Information about contract assets: Contract assets Unbilled receivables - reimbursable contracts $ 641 $ 590 Contract work in progress - lump-sum contracts 366 270 Contract assets $ 1,007 $ 860 Advance billings deducted from contract assets $ 266 $ 308 Three Months Ended (in millions) 2021 2020 Information about contract liabilities: Revenue recognized that was included in contract liabilities as of January 1 $ 494 $ 488 We estimate that our RUPO will be satisfied over the following periods: (in millions) March 31, 2021 Within 1 year $ 10,783 1 to 2 years 6,438 Thereafter 6,029 Total RUPO $ 23,250 |
Remaining Unsatisfied Performan
| Remaining Unsatisfied Performance Obligations | 3 Months Ended |
| Mar. 31, 2021 | |
| Revenue from Contract with Customer [Abstract] | |
| Remaining Unsatisfied Performance Obligations | Contract Assets and Liabilities The following summarizes information about our contract assets and liabilities: (in millions) March 31, December 31, Information about contract assets: Contract assets Unbilled receivables - reimbursable contracts $ 641 $ 590 Contract work in progress - lump-sum contracts 366 270 Contract assets $ 1,007 $ 860 Advance billings deducted from contract assets $ 266 $ 308 Three Months Ended (in millions) 2021 2020 Information about contract liabilities: Revenue recognized that was included in contract liabilities as of January 1 $ 494 $ 488 We estimate that our RUPO will be satisfied over the following periods: (in millions) March 31, 2021 Within 1 year $ 10,783 1 to 2 years 6,438 Thereafter 6,029 Total RUPO $ 23,250 |
Debt and Lines of Credit
| Debt and Lines of Credit | 3 Months Ended |
| Mar. 31, 2021 | |
| Debt Disclosure [Abstract] | |
| Debt and Lines of Credit | Debt and Lines of Credit Debt consisted of the following: (in thousands) March 31, 2021 December 31, 2020 Borrowings under credit facility $ — $ — Current: Other borrowings $ 4,704 $ 4,890 Long-term: Senior Notes 2023 Notes $ 588,050 $ 611,250 Unamortized discount on 2023 Notes (242) (283) Unamortized deferred financing costs (1,043) (1,203) 2024 Notes 500,000 500,000 Unamortized discount on 2024 Notes (1,996) (2,130) Unamortized deferred financing costs (1,564) (1,670) 2028 Notes 600,000 600,000 Unamortized discount on 2028 Notes (950) (981) Unamortized deferred financing costs (3,759) (3,885) Total long-term $ 1,678,496 $ 1,701,098 Credit Facility As of March 31, 2021, letters of credit totaling $414 million were outstanding under our $1.65 billion credit facility, which matures in February 2023. The credit facility contains customary financial covenants, including a debt-to-capitalization ratio that cannot exceed 0.65 to 1.0, a limitation on the aggregate amount of debt of the greater of $750 million or €750 million for our subsidiaries, and a minimum liquidity threshold of $1.5 billion, defined in the amended credit facility, which may be reduced to $1.25 billion upon the repayment of debt. The credit facility also contains provisions that will require us to provide collateral to secure the facility should we be downgraded to BB by S&P and Ba2 by Moody's, such collateral consisting broadly of our U.S. assets. Borrowings under the facility, which may be denominated in USD, EUR, GBP or CAD, bear interest at a base rate, plus an applicable borrowing margin. As of March 31, 2021, our financial covenants limited our further borrowings to approximately $869 million, although no amounts were drawn. Uncommitted Lines of Credit As of March 31, 2021, letters of credit totaling $927 million were outstanding under uncommitted lines of credit, although no amounts were drawn. |
Fair Value Measurements
| Fair Value Measurements | 3 Months Ended |
| Mar. 31, 2021 | |
| Fair Value Disclosures [Abstract] | |
| Fair Value Measurements | Fair Value Measurements The following table delineates assets and liabilities that are measured at fair value on a recurring basis: March 31, 2021 December 31, 2020 Fair Value Hierarchy Fair Value Hierarchy (in thousands) Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Assets: Deferred compensation trusts (1) $ 10,168 $ 10,168 $ — $ — $ 9,626 $ 9,626 $ — $ — Derivative assets (2) Foreign currency 22,987 — 22,987 — 22,667 — 22,667 — Commodity 2,211 — 2,211 — 806 — 806 — Liabilities: Derivative liabilities (2) Foreign currency $ 4,928 $ — $ 4,928 $ — $ 2,571 $ — $ 2,571 $ — Commodity 2,715 — 2,715 — 5,059 — 5,059 — _________________________________________________________ (1) Consists of registered money market funds and an equity index fund. These investments, which are trading securities, represent the net asset value as of the close of business at the end of the period based on the last trade or official close of an active market or exchange. (2) Foreign currency and commodity derivatives are estimated using pricing models with market-based inputs, which take into account the present value of estimated future cash flows. We have measured assets and liabilities held for sale and certain other impaired assets at fair value on a nonrecurring basis. The following summarizes information about our financial instruments that are not required to be measured at fair value: March 31, 2021 December 31, 2020 (in thousands) Fair Value Carrying Fair Carrying Fair Assets: Cash (1) Level 1 $ 1,101,980 $ 1,101,980 $ 1,180,024 $ 1,180,024 Cash equivalents (2) Level 2 835,820 835,820 1,018,757 1,018,757 Marketable securities (2) Level 2 18,698 18,698 23,345 23,345 Notes receivable, including noncurrent portion (3) Level 3 26,485 26,485 28,488 28,488 Liabilities: 2023 Senior Notes (4) Level 2 $ 586,765 $ 580,035 $ 609,764 $ 578,554 2024 Senior Notes (4) Level 2 496,440 514,620 496,200 494,045 2028 Senior Notes (4) Level 2 595,291 610,236 595,134 599,220 Other borrowings (5) Level 2 4,704 4,704 4,890 4,890 _________________________________________________________ (1) Cash consists of bank deposits. Carrying amounts approximate fair value. (2) The carrying amounts of these time deposits approximate fair value because of the short-term maturity of these instruments. Amortized cost is not materially different from the fair value. (3) Notes receivable are carried at net realizable value which approximates fair value. Factors considered in determining the fair value include the credit worthiness of the borrower, current interest rates, the term of the note and any collateral pledged as security. Notes receivable are periodically assessed for impairment. (4) The fair value of the Senior Notes was estimated based on the quoted market prices and Level 2 inputs. (5) Other borrowings represent bank loans and other financing arrangements which mature within one year. The carrying amount of borrowings under these arrangements approximates fair value because of the short-term maturity. |
Stock-Based Compensation
| Stock-Based Compensation | 3 Months Ended |
| Mar. 31, 2021 | |
| Share-based Payment Arrangement [Abstract] | |
| Stock-Based Compensation | Stock-Based Compensation Our executive and director stock-based compensation plans are described more fully in the 2020 10-K. In the 2021 Quarter, RSUs totaling 545,527 were granted to executives at a weighted-average grant date fair value of $18.13 per share. RSUs granted to executive officers in 2021 and 2020 generally vest over three years. The fair value of RSUs represents the closing price of our common stock on the date of grant. Stock options for the purchase of 481,626 shares at a weighted-average exercise price of $17.96 per share were awarded to executives during the 2021 Quarter. The exercise price of options represents the closing price of our common stock on the date of grant. The options granted in 2021 and 2020 generally vest over three years and generally expire ten years after the grant date. Performance-based award units totaling 613,868 were awarded to executive officers during the 2021 Quarter. These awards generally vest after a period of 3 years and contain annual performance conditions for each of the 3 years of the vesting period. Under GAAP, performance-based awards are not deemed granted until the performance targets have been established. The performance targets for each year are generally established in the first quarter. Accordingly, only one-third of the units awarded in any given year are deemed to be granted each year of the 3 year vesting periods. During 2021, the following units were granted: Performance-based Award Units Granted in 2021 Weighted Average 2021 Performance Award Plan 204,623 $20.49 2020 Performance Award Plan 385,455 $19.98 2019 Performance Award Plan 116,844 $20.18 The number of units are adjusted at the end of each performance period based on achievement of certain performance targets and market conditions, as defined in the award agreements. The grant date fair value is determined by adjusting the closing price of our common stock on the date of grant for the effect of the market condition. Units granted under the 2021, 2020 and 2019 performance award plans can only be settled in our stock and are accounted for as equity awards under GAAP. There were no RSUs, options or performance-based award units awarded to executives during the 2020 Quarter. Instead, RSUs, options and performance-based award units were awarded to executives in September 2020 following the filing of our 2019 10-K. |
Retirement Plans
| Retirement Plans | 3 Months Ended |
| Mar. 31, 2021 | |
| Retirement Benefits [Abstract] | |
| Retirement Plans | Retirement Plans Net periodic pension expense for our DB plans includes the following components: Three Months Ended (in thousands) Location of Component 2021 2020 Service cost Cost of revenue $ 4,393 $ 4,205 Interest cost Corporate G&A 1,778 2,240 Expected return on assets Corporate G&A (7,239) (6,304) Amortization of prior service credit Corporate G&A (218) (218) Recognized net actuarial loss Corporate G&A 1,437 1,138 Net periodic pension expense $ 151 $ 1,061 We currently expect to contribute up to $16 million into our DB plans during 2021, which we expect to be in excess of the minimum funding required. During the three months ended March 31, 2021, we made contributions of approximately $10 million. |
Derivatives and Hedging
| Derivatives and Hedging | 3 Months Ended |
| Mar. 31, 2021 | |
| Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
| Derivatives and Hedging | Derivatives and Hedging We attempt to limit foreign currency exposure in most of our contracts by denominating contract revenue in the currencies in which cost is incurred. Certain financial exposure, which includes currency and commodity price risk associated with engineering and construction contracts and currency risk associated with monetary assets and liabilities denominated in nonfunctional currencies, may subject us to earnings volatility. We may implement a hedging strategy utilizing derivatives instruments or hedging instruments to mitigate such risk. Our hedging instruments are designated as either fair value or cash flow hedges. We formally document our hedge relationships at inception, including identification of the hedging instruments and the hedged items, our risk management objectives and strategies for undertaking the hedge transaction, and the initial quantitative assessment of the hedging instrument's effectiveness in offsetting changes in the fair value of the hedged items. We subsequently assess hedge effectiveness qualitatively, unless the hedge relationship is no longer highly effective. All hedging instruments are recorded at fair value. For fair value hedges, the change in fair value is offset against the change in the fair value of the underlying asset or liability through earnings. For cash flow hedges, the change in fair value is recorded as a component of AOCI and is reclassified into earnings when the hedged item settles. For derivatives that are not designated or do not qualify as hedging instruments, the change in the fair value of the derivative is offset against the change in the fair value of the underlying asset or liability through earnings. In certain limited circumstances, foreign currency payment provisions could be deemed embedded derivatives. If an embedded foreign currency derivative is identified, the derivative is bifurcated from the host contract and the change in fair value is recognized through earnings. We maintain master netting arrangements with certain counterparties to facilitate the settlement of derivative instruments; however, we report the fair value of derivatives on a gross basis. Derivatives Designated as Hedges As of March 31, 2021, we had total gross notional amounts of $656 million of foreign currency contracts outstanding (primarily related to the Canadian Dollar, Chinese Yuan, British Pound, Euro, Indian Rupee and Philippine Peso) that were designated as hedges. These foreign currency contracts are of varying duration, none of which extend beyond December 2024. There were no commodity contracts outstanding that were designated as hedges as of March 31, 2021. The fair values of derivatives designated as hedging instruments follows: Asset Derivatives Liability Derivatives (in thousands) Balance Sheet March 31, December 31, Balance Sheet March 31, December 31, Foreign currency contracts Other current assets $ 16,789 $ 20,004 Other accrued liabilities $ 1,244 $ 4 Foreign currency contracts Other assets 2,795 2,184 Noncurrent liabilities 49 25 Total $ 19,584 $ 22,188 $ 1,293 $ 29 The after-tax amount of gain (loss) recognized in OCI and reclassified from AOCI into earnings associated with derivative instruments designated as cash flow hedges follows: After-Tax Amount of Gain (Loss) Recognized in OCI After-Tax Amount of Gain (Loss) Reclassified from AOCI into Earnings Three Months Ended Three Months Ended Cash Flow Hedges (in thousands) 2021 2020 Location of Gain (Loss) 2021 2020 Foreign currency contracts $ 872 $ (5,140) Cost of revenue $ 4,342 $ 626 Commodity contracts — (111) Cost of revenue — 12 Interest rate contracts — — Interest expense (419) (419) Total $ 872 $ (5,251) $ 3,923 $ 219 Derivatives Not Designated as Hedges |
Other Comprehensive Income (Los
| Other Comprehensive Income (Loss) | 3 Months Ended |
| Mar. 31, 2021 | |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] | |
| Other Comprehensive Income (Loss) | Other Comprehensive Income (Loss) The components of OCI follow: Three Months Ended Three Months Ended (in thousands) Before-Tax Tax Net-of-Tax Before-Tax Tax Net-of-Tax OCI: Foreign currency translation adjustments $ 2,710 $ (11) $ 2,699 $ (111,101) $ — $ (111,101) Ownership share of equity method investees’ OCI (2,439) 375 (2,064) (2,519) (5,653) (8,172) DB plan adjustments 1,200 451 1,651 1,002 44 1,046 Unrealized gain (loss) on hedges (3,449) 398 (3,051) (5,874) 404 (5,470) Total OCI (1,978) 1,213 (765) (118,492) (5,205) (123,697) Less: OCI attributable to NCI (202) — (202) (4,217) — (4,217) OCI attributable to Fluor $ (1,776) $ 1,213 $ (563) $ (114,275) $ (5,205) $ (119,480) The changes in AOCI balances follow: (in thousands) Foreign Ownership DB Plans Unrealized AOCI, Net Attributable to Fluor: Balance as of December 31, 2020 $ (260,960) $ (53,984) $ (118,589) $ 16,627 $ (416,906) OCI before reclassifications 2,901 (2,203) — 872 1,570 Amounts reclassified from AOCI — 139 1,651 (3,923) (2,133) Net OCI 2,901 (2,064) 1,651 (3,051) (563) Balance as of March 31, 2021 $ (258,059) $ (56,048) $ (116,938) $ 13,576 $ (417,469) Attributable to NCI: Balance as of December 31, 2020 $ (4,168) $ — $ — $ — $ (4,168) OCI before reclassifications (202) — — — (202) Amounts reclassified from AOCI — — — — — Net OCI (202) — — — (202) Balance as of March 31, 2021 $ (4,370) $ — $ — $ — $ (4,370) Attributable to Fluor: 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) The reclassifications out of AOCI follow: Location in Statement of Operations Three Months Ended (in thousands) 2021 2020 Component of AOCI: Ownership share of equity method investees’ OCI Cost of revenue $ (186) $ (188) Income tax benefit Income tax expense (benefit) 47 47 Net of tax $ (139) $ (141) DB plan adjustments Corporate G&A $ (1,200) $ (1,002) Income tax expense Income tax expense (benefit) (451) (44) Net of tax $ (1,651) $ (1,046) Unrealized gain (loss) on derivative contracts: Commodity and foreign currency contracts Various accounts (1) $ 5,218 $ 642 Interest rate contracts Interest expense (419) (419) Income tax expense Income tax expense (benefit) (876) (4) Net of tax $ 3,923 $ 219 (1) Gains and losses on commodity and foreign currency derivative contracts were reclassified to "Cost of revenue" and "Corporate G&A". |
Discontinued Operations
| Discontinued Operations | 3 Months Ended |
| Mar. 31, 2021 | |
| Discontinued Operations and Disposal Groups [Abstract] | |
| Discontinued Operations | Discontinued Operations In the first quarter of 2021, we committed to a plan to sell our Stork business, which had previously represented the majority of operations from our former diversified services segment. Our plan to sell the AMECO equipment business remains unchanged. Impairment expense, included in Disc Ops, is summarized as follows: Three Months Ended Three Months Ended March 31, 2020 (in thousands) Stork Stork AMECO Total Impairment expense: Goodwill $ 12,700 $ 168,568 $ 12,300 $ 180,868 Intangible customer relationships — 26,671 — 26,671 Fair value adjustment and expected costs associated with sale 7,800 — 87,700 87,700 Total impairment expense $ 20,500 $ 195,239 $ 100,000 $ 295,239 As part of our assessment of goodwill, the fair value of the reporting unit was determined using an income based approach that utilized unobservable Level 3 inputs, including significant management assumptions such as expected awards, forecasted revenue and operating margins, weighted average cost of capital, working capital assumptions and general market trends and conditions. The customer relationships' valuation approach utilized unobservable Level 3 inputs including ranges of assumptions of long-term revenue growth from 2% to 5.5% with a weighted average of 2.4%, weighted average cost of capital of 12% and a customer attrition factor of 10%. The fair value of the AMECO assets were determined using a combination of observable level 2 inputs, including indicative offers and ongoing negotiations for the related assets. Disc Ops information follows: Three Months Ended Three Months Ended (in thousands) Stork AMECO Other Total Stork AMECO Other Total Revenue $ 384,252 $ 40,716 $ — $ 424,968 $ 420,012 $ 61,387 $ — $ 481,399 Cost of revenue 381,083 43,970 1,050 426,103 418,818 49,094 5,696 473,608 Gross Profit 3,169 (3,254) (1,050) (1,135) 1,194 12,293 (5,696) 7,791 Corporate G&A (378) — — (378) — (14) (7) (21) Impairment expense (20,500) — — (20,500) (195,239) (100,000) — (295,239) Foreign currency gain (loss) 10 832 — 842 (1,146) (72) — (1,218) Operating profit (17,699) (2,422) (1,050) (21,171) (195,191) (87,793) (5,703) (288,687) Interest (expense) income, net (1,353) 104 — (1,249) (1,645) 50 — (1,595) Earnings (loss) before taxes from Disc Ops (19,052) (2,318) (1,050) (22,420) (196,836) (87,743) (5,703) (290,282) Income tax expense (benefit) 2,624 715 — 3,339 (4,550) 1,458 — (3,092) Net earnings (loss) from Disc Ops (21,676) (3,033) (1,050) (25,759) (192,286) (89,201) (5,703) (287,190) Less: Net earnings (loss) attributable to NCI from Disc Ops 294 (1) — 293 377 — — 377 Net earnings (loss) attributable to Fluor from Disc Ops $ (21,970) $ (3,032) $ (1,050) $ (26,052) $ (192,663) $ (89,201) $ (5,703) $ (287,567) The following summarized information related to assets and liabilities classified as held for sale: March 31, 2021 December 31, 2020 (in thousands) Stork AMECO Other Total from Disc Ops Other Assets and Liabilities from Cont Ops Total Stork AMECO Other Total from Disc Ops Other Assets and Liabilities from Cont Ops Total Accounts and notes receivable, net $ 208,151 $ 42,649 $ 10,476 $ 261,276 $ — $ 261,276 $ 245,105 $ 42,797 $ 10,475 $ 298,377 $ — $ 298,377 Contract assets 128,215 1,913 — 130,128 — 130,128 108,152 2,188 — 110,340 — 110,340 Other current assets 43,483 51,528 — 95,011 — 95,011 45,384 73,618 — 119,002 — 119,002 Current assets held for sale 379,849 96,090 10,476 486,415 — 486,415 398,641 118,603 10,475 527,719 — 527,719 Property, plant and equipment, net 90,686 82,190 — 172,876 24,508 197,384 97,258 67,380 — 164,638 24,538 189,176 Goodwill 121,374 — — 121,374 — 121,374 141,889 — — 141,889 — 141,889 Investments 4,240 — — 4,240 4,861 9,101 4,649 — — 4,649 5,064 9,713 Other assets 123,384 20,434 — 143,818 — 143,818 135,421 13,810 — 149,231 — 149,231 Noncurrent assets held for sale (1) 339,684 102,624 — 442,308 29,369 471,677 379,217 81,190 — 460,407 29,602 490,009 Total assets held for sale $ 719,533 $ 198,714 $ 10,476 $ 928,723 $ 29,369 $ 958,092 $ 777,858 $ 199,793 $ 10,475 $ 988,126 $ 29,602 $ 1,017,728 Accounts payable $ 119,177 $ 13,823 $ — $ 133,000 $ — $ 133,000 $ 116,580 $ 17,388 $ 13 $ 133,981 $ — $ 133,981 Short-term borrowings 22,115 — — 22,115 — 22,115 20,525 — — 20,525 — 20,525 Contract liabilities 41,252 784 — 42,036 — 42,036 46,997 782 — 47,779 — 47,779 Accrued salaries, wages and benefits 63,396 6,542 — 69,938 — 69,938 57,626 7,152 — 64,778 — 64,778 Other accrued liabilities 111,358 14,127 — 125,485 — 125,485 113,965 11,977 — 125,942 — 125,942 Current liabilities held for sale 357,298 35,276 — 392,574 — 392,574 355,693 37,299 13 393,005 — 393,005 Noncurrent liabilities held for sale (1) 89,913 13,037 — 102,950 — 102,950 98,940 9,478 — 108,418 — 108,418 Total liabilities held for sale $ 447,211 $ 48,313 $ — $ 495,524 $ — $ 495,524 $ 454,633 $ 46,777 $ 13 $ 501,423 $ — $ 501,423 (1) Noncurrent assets and liabilities held for sale as of March 31, 2021 were classified as current given the expected timing of the sale. Our cash flow information for the 2021 and 2020 Quarters included the following activities related to Disc Ops: Three Months Ended March 31, 2021 Three Months Ended March 31, 2020 (in thousands) Stork AMECO Total Stork AMECO Total Capital expenditures (3,344) (10,832) (14,176) (6,415) (8,073) (14,488) |
Recent Accounting Pronounceme_2
| Recent Accounting Pronouncements - (Policies) | 3 Months Ended |
| Mar. 31, 2021 | |
| Accounting Standards Update and Change in Accounting Principle [Abstract] | |
| Recent Accounting Pronouncements | Accounting pronouncements that were implemented by us during the 2021 QuarterIn the first quarter of 2021, we adopted ASU 2020-06, “Accounting for Convertible Instruments and Contracts in an Entity's Own Equity,” which simplifies accounting for convertible instruments and the application of the derivatives scope exception for contracts in our own equity. ASU 2020-06 eliminates two of the three models in the current guidance that require separating embedded conversion features from convertible instruments and also eliminates some of the requirements for equity classification. ASU 2020-06 also addresses how convertible instruments are accounted for in the diluted EPS calculation. The adoption did not have any impact on our financial statements |
Earnings Per Share - (Tables)
| Earnings Per Share - (Tables) | 3 Months Ended |
| Mar. 31, 2021 | |
| Earnings Per Share [Abstract] | |
| Schedule of calculations of basic and diluted EPS | Three Months Ended (in thousands, except per share amounts) 2021 2020 Amounts attributable to Fluor: Net earnings (loss) from Cont Ops $ (60,972) $ 21,608 Net earnings (loss) from Disc Ops (26,052) (287,567) Net earnings (loss) $ (87,024) $ (265,959) Basic EPS attributable to Fluor: Weighted average common shares outstanding 140,900 140,262 Net earnings (loss) from Cont Ops $ (0.43) $ 0.15 Net earnings (loss) from Disc Ops (0.19) (2.05) Net earnings (loss) $ (0.62) $ (1.90) Diluted EPS attributable to Fluor: Weighted average common shares outstanding 140,900 140,262 Dilutive effects: Stock options, RSUs, restricted stock and performance-based award units (1) — — Weighted average diluted shares outstanding 140,900 140,262 Net earnings (loss) from Cont Ops $ (0.43) $ 0.15 Net earnings (loss) from Disc Ops (0.19) (2.05) Net earnings (loss) $ (0.62) $ (1.90) (1) Anti-dilutive securities not included in shares outstanding 1,900 438 |
Operating Information by Segm_2
| Operating Information by Segment and Geographic Area - (Tables) | 3 Months Ended |
| Mar. 31, 2021 | |
| Segment Reporting [Abstract] | |
| Schedule of operating information and assets by reportable segment | Three Months Ended (in millions) 2021 2020 Revenue Energy Solutions $ 991.0 $ 1,359.3 Urban Solutions 1,194.2 1,592.2 Mission Solutions 753.3 746.2 Total revenue $ 2,938.5 $ 3,697.7 Segment profit (loss) Energy Solutions $ 2.2 $ (5.9) Urban Solutions 29.8 51.3 Mission Solutions 43.6 32.1 Other (15.7) (22.8) Total segment profit (loss) $ 59.9 $ 54.7 Corporate G&A (65.5) (33.6) Impairment, restructuring and other exit costs (26.4) (102.4) Foreign currency gain (loss) (11.3) 45.2 Interest income (expense), net (17.1) (4.6) Earnings (loss) attributable to NCI from Cont Ops 32.8 9.1 Earnings (loss) from Cont Ops before taxes $ (27.6) $ (31.6) Total assets by segment are as follows: (in millions) March 31, December 31, Energy Solutions $ 1,017.6 $ 1,010.9 Urban Solutions 1,134.0 1,122.5 Mission Solutions 620.9 575.8 Other 37.8 37.8 Corporate 3,281.9 3,574.7 Disc Ops - Assets held for sale 928.7 988.1 Total assets $ 7,020.9 $ 7,309.8 |
| Schedule of Revenues from External Customers and Assets by Geographical Areas | Revenue by project location follows: Three Months Ended (in millions) 2021 2020 North America $ 1,971.6 $ 2,328.5 Asia Pacific (including Australia) 336.7 308.7 Europe 254.9 476.9 Central and South America 264.7 423.7 Middle East and Africa 110.6 159.9 Total revenue $ 2,938.5 $ 3,697.7 |
Impairment, Restructuring and_2
| Impairment, Restructuring and Other Exit Costs - (Tables) | 3 Months Ended |
| Mar. 31, 2021 | |
| Restructuring and Related Activities [Abstract] | |
| Schedule of impairment expense | Impairment expense is summarized as follows: Three Months Ended (in thousands) 2021 2020 Impairment expense: Energy Solutions' equity method investments $ 26,392 $ 86,096 Information technology assets — 16,269 Total impairment expense $ 26,392 $ 102,365 Impairment expense, included in Disc Ops, is summarized as follows: Three Months Ended Three Months Ended March 31, 2020 (in thousands) Stork Stork AMECO Total Impairment expense: Goodwill $ 12,700 $ 168,568 $ 12,300 $ 180,868 Intangible customer relationships — 26,671 — 26,671 Fair value adjustment and expected costs associated with sale 7,800 — 87,700 87,700 Total impairment expense $ 20,500 $ 195,239 $ 100,000 $ 295,239 |
| Restructuring Liability | A reconciliation of our restructuring liability follows: (in thousands) Severance Lease Exit Costs Total Balance as of December 31, 2019 $ 30,479 $ 564 $ 31,043 Restructuring charges accrued during the period 3,720 334 4,054 Cash payments / settlements during the period (18,858) (793) (19,651) Currency translation 1,140 1 1,141 Balance as of December 31, 2020 $ 16,481 $ 106 $ 16,587 Cash payments / settlements during the period $ (6,332) $ — $ (6,332) Currency translation (650) — (650) Balance as of March 31, 2021 $ 9,499 $ 106 $ 9,605 |
Cash Paid for Interest and Ta_2
| Cash Paid for Interest and Taxes (Tables) | 3 Months Ended |
| Mar. 31, 2021 | |
| Supplemental Cash Flow Information [Abstract] | |
| Schedule of Cash Paid for Interest and Taxes | Three Months Ended March 31, (in thousands) 2021 2020 Cash paid for: Interest $ 29,784 $ 26,624 Income taxes (net of refunds) 31,794 7,486 |
Contract Assets and Liabiliti_2
| Contract Assets and Liabilities (Tables) | 3 Months Ended |
| Mar. 31, 2021 | |
| Revenue from Contract with Customer [Abstract] | |
| Contract Assets and Liabilities | The following summarizes information about our contract assets and liabilities: (in millions) March 31, December 31, Information about contract assets: Contract assets Unbilled receivables - reimbursable contracts $ 641 $ 590 Contract work in progress - lump-sum contracts 366 270 Contract assets $ 1,007 $ 860 Advance billings deducted from contract assets $ 266 $ 308 Three Months Ended (in millions) 2021 2020 Information about contract liabilities: Revenue recognized that was included in contract liabilities as of January 1 $ 494 $ 488 |
Remaining Unsatisfied Perform_2
| Remaining Unsatisfied Performance Obligations - (Tables) | 3 Months Ended |
| Mar. 31, 2021 | |
| Revenue from Contract with Customer [Abstract] | |
| Schedule of remaining performance obligation | We estimate that our RUPO will be satisfied over the following periods: (in millions) March 31, 2021 Within 1 year $ 10,783 1 to 2 years 6,438 Thereafter 6,029 Total RUPO $ 23,250 |
Debt and Lines of Credit (Table
| Debt and Lines of Credit (Tables) | 3 Months Ended |
| Mar. 31, 2021 | |
| Debt Disclosure [Abstract] | |
| Schedule of Debt | Debt consisted of the following: (in thousands) March 31, 2021 December 31, 2020 Borrowings under credit facility $ — $ — Current: Other borrowings $ 4,704 $ 4,890 Long-term: Senior Notes 2023 Notes $ 588,050 $ 611,250 Unamortized discount on 2023 Notes (242) (283) Unamortized deferred financing costs (1,043) (1,203) 2024 Notes 500,000 500,000 Unamortized discount on 2024 Notes (1,996) (2,130) Unamortized deferred financing costs (1,564) (1,670) 2028 Notes 600,000 600,000 Unamortized discount on 2028 Notes (950) (981) Unamortized deferred financing costs (3,759) (3,885) Total long-term $ 1,678,496 $ 1,701,098 |
Fair Value Measurements - (Tabl
| Fair Value Measurements - (Tables) | 3 Months Ended |
| Mar. 31, 2021 | |
| Fair Value Disclosures [Abstract] | |
| Schedule of assets and liabilities measured at fair value on a recurring basis | The following table delineates assets and liabilities that are measured at fair value on a recurring basis: March 31, 2021 December 31, 2020 Fair Value Hierarchy Fair Value Hierarchy (in thousands) Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Assets: Deferred compensation trusts (1) $ 10,168 $ 10,168 $ — $ — $ 9,626 $ 9,626 $ — $ — Derivative assets (2) Foreign currency 22,987 — 22,987 — 22,667 — 22,667 — Commodity 2,211 — 2,211 — 806 — 806 — Liabilities: Derivative liabilities (2) Foreign currency $ 4,928 $ — $ 4,928 $ — $ 2,571 $ — $ 2,571 $ — Commodity 2,715 — 2,715 — 5,059 — 5,059 — _________________________________________________________ (1) Consists of registered money market funds and an equity index fund. These investments, which are trading securities, represent the net asset value as of the close of business at the end of the period based on the last trade or official close of an active market or exchange. (2) |
| Schedule of carrying values and estimated fair values of financial instruments not required to be measured at fair value | The following summarizes information about our financial instruments that are not required to be measured at fair value: March 31, 2021 December 31, 2020 (in thousands) Fair Value Carrying Fair Carrying Fair Assets: Cash (1) Level 1 $ 1,101,980 $ 1,101,980 $ 1,180,024 $ 1,180,024 Cash equivalents (2) Level 2 835,820 835,820 1,018,757 1,018,757 Marketable securities (2) Level 2 18,698 18,698 23,345 23,345 Notes receivable, including noncurrent portion (3) Level 3 26,485 26,485 28,488 28,488 Liabilities: 2023 Senior Notes (4) Level 2 $ 586,765 $ 580,035 $ 609,764 $ 578,554 2024 Senior Notes (4) Level 2 496,440 514,620 496,200 494,045 2028 Senior Notes (4) Level 2 595,291 610,236 595,134 599,220 Other borrowings (5) Level 2 4,704 4,704 4,890 4,890 _________________________________________________________ (1) Cash consists of bank deposits. Carrying amounts approximate fair value. (2) The carrying amounts of these time deposits approximate fair value because of the short-term maturity of these instruments. Amortized cost is not materially different from the fair value. (3) Notes receivable are carried at net realizable value which approximates fair value. Factors considered in determining the fair value include the credit worthiness of the borrower, current interest rates, the term of the note and any collateral pledged as security. Notes receivable are periodically assessed for impairment. (4) The fair value of the Senior Notes was estimated based on the quoted market prices and Level 2 inputs. (5) Other borrowings represent bank loans and other financing arrangements which mature within one year. The carrying amount of borrowings under these arrangements approximates fair value because of the short-term maturity. |
Stock-Based Compensation (Table
| Stock-Based Compensation (Tables) | 3 Months Ended |
| Mar. 31, 2021 | |
| Share-based Payment Arrangement [Abstract] | |
| Share-based Payment Arrangement, Activity | During 2021, the following units were granted: Performance-based Award Units Granted in 2021 Weighted Average 2021 Performance Award Plan 204,623 $20.49 2020 Performance Award Plan 385,455 $19.98 2019 Performance Award Plan 116,844 $20.18 |
Retirement Plans - (Tables)
| Retirement Plans - (Tables) | 3 Months Ended |
| Mar. 31, 2021 | |
| Retirement Benefits [Abstract] | |
| Schedule of components of net periodic pension expense | Net periodic pension expense for our DB plans includes the following components: Three Months Ended (in thousands) Location of Component 2021 2020 Service cost Cost of revenue $ 4,393 $ 4,205 Interest cost Corporate G&A 1,778 2,240 Expected return on assets Corporate G&A (7,239) (6,304) Amortization of prior service credit Corporate G&A (218) (218) Recognized net actuarial loss Corporate G&A 1,437 1,138 Net periodic pension expense $ 151 $ 1,061 |
Derivatives and Hedging - (Tabl
| Derivatives and Hedging - (Tables) | 3 Months Ended |
| Mar. 31, 2021 | |
| Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
| Schedule of fair values of derivatives designated as hedging instruments under ASC 815 | The fair values of derivatives designated as hedging instruments follows: Asset Derivatives Liability Derivatives (in thousands) Balance Sheet March 31, December 31, Balance Sheet March 31, December 31, Foreign currency contracts Other current assets $ 16,789 $ 20,004 Other accrued liabilities $ 1,244 $ 4 Foreign currency contracts Other assets 2,795 2,184 Noncurrent liabilities 49 25 Total $ 19,584 $ 22,188 $ 1,293 $ 29 |
| Schedule of derivative instrument gain (loss) | The after-tax amount of gain (loss) recognized in OCI and reclassified from AOCI into earnings associated with derivative instruments designated as cash flow hedges follows: After-Tax Amount of Gain (Loss) Recognized in OCI After-Tax Amount of Gain (Loss) Reclassified from AOCI into Earnings Three Months Ended Three Months Ended Cash Flow Hedges (in thousands) 2021 2020 Location of Gain (Loss) 2021 2020 Foreign currency contracts $ 872 $ (5,140) Cost of revenue $ 4,342 $ 626 Commodity contracts — (111) Cost of revenue — 12 Interest rate contracts — — Interest expense (419) (419) Total $ 872 $ (5,251) $ 3,923 $ 219 |
Other Comprehensive Income (L_2
| Other Comprehensive Income (Loss) - (Tables) | 3 Months Ended |
| Mar. 31, 2021 | |
| 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 Three Months Ended (in thousands) Before-Tax Tax Net-of-Tax Before-Tax Tax Net-of-Tax OCI: Foreign currency translation adjustments $ 2,710 $ (11) $ 2,699 $ (111,101) $ — $ (111,101) Ownership share of equity method investees’ OCI (2,439) 375 (2,064) (2,519) (5,653) (8,172) DB plan adjustments 1,200 451 1,651 1,002 44 1,046 Unrealized gain (loss) on hedges (3,449) 398 (3,051) (5,874) 404 (5,470) Total OCI (1,978) 1,213 (765) (118,492) (5,205) (123,697) Less: OCI attributable to NCI (202) — (202) (4,217) — (4,217) OCI attributable to Fluor $ (1,776) $ 1,213 $ (563) $ (114,275) $ (5,205) $ (119,480) |
| Schedule of changes in accumulated other comprehensive income balances by component (after-tax) | The changes in AOCI balances follow: (in thousands) Foreign Ownership DB Plans Unrealized AOCI, Net Attributable to Fluor: Balance as of December 31, 2020 $ (260,960) $ (53,984) $ (118,589) $ 16,627 $ (416,906) OCI before reclassifications 2,901 (2,203) — 872 1,570 Amounts reclassified from AOCI — 139 1,651 (3,923) (2,133) Net OCI 2,901 (2,064) 1,651 (3,051) (563) Balance as of March 31, 2021 $ (258,059) $ (56,048) $ (116,938) $ 13,576 $ (417,469) Attributable to NCI: Balance as of December 31, 2020 $ (4,168) $ — $ — $ — $ (4,168) OCI before reclassifications (202) — — — (202) Amounts reclassified from AOCI — — — — — Net OCI (202) — — — (202) Balance as of March 31, 2021 $ (4,370) $ — $ — $ — $ (4,370) Attributable to Fluor: 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) |
| 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 (in thousands) 2021 2020 Component of AOCI: Ownership share of equity method investees’ OCI Cost of revenue $ (186) $ (188) Income tax benefit Income tax expense (benefit) 47 47 Net of tax $ (139) $ (141) DB plan adjustments Corporate G&A $ (1,200) $ (1,002) Income tax expense Income tax expense (benefit) (451) (44) Net of tax $ (1,651) $ (1,046) Unrealized gain (loss) on derivative contracts: Commodity and foreign currency contracts Various accounts (1) $ 5,218 $ 642 Interest rate contracts Interest expense (419) (419) Income tax expense Income tax expense (benefit) (876) (4) Net of tax $ 3,923 $ 219 (1) Gains and losses on commodity and foreign currency derivative contracts were reclassified to "Cost of revenue" and "Corporate G&A". |
Discontinued Operations - (Tabl
| Discontinued Operations - (Tables) | 3 Months Ended |
| Mar. 31, 2021 | |
| Discontinued Operations and Disposal Groups [Abstract] | |
| Schedule of impairment expense | Impairment expense is summarized as follows: Three Months Ended (in thousands) 2021 2020 Impairment expense: Energy Solutions' equity method investments $ 26,392 $ 86,096 Information technology assets — 16,269 Total impairment expense $ 26,392 $ 102,365 Impairment expense, included in Disc Ops, is summarized as follows: Three Months Ended Three Months Ended March 31, 2020 (in thousands) Stork Stork AMECO Total Impairment expense: Goodwill $ 12,700 $ 168,568 $ 12,300 $ 180,868 Intangible customer relationships — 26,671 — 26,671 Fair value adjustment and expected costs associated with sale 7,800 — 87,700 87,700 Total impairment expense $ 20,500 $ 195,239 $ 100,000 $ 295,239 |
| Earnings from discontinued operations, net of tax | Disc Ops information follows: Three Months Ended Three Months Ended (in thousands) Stork AMECO Other Total Stork AMECO Other Total Revenue $ 384,252 $ 40,716 $ — $ 424,968 $ 420,012 $ 61,387 $ — $ 481,399 Cost of revenue 381,083 43,970 1,050 426,103 418,818 49,094 5,696 473,608 Gross Profit 3,169 (3,254) (1,050) (1,135) 1,194 12,293 (5,696) 7,791 Corporate G&A (378) — — (378) — (14) (7) (21) Impairment expense (20,500) — — (20,500) (195,239) (100,000) — (295,239) Foreign currency gain (loss) 10 832 — 842 (1,146) (72) — (1,218) Operating profit (17,699) (2,422) (1,050) (21,171) (195,191) (87,793) (5,703) (288,687) Interest (expense) income, net (1,353) 104 — (1,249) (1,645) 50 — (1,595) Earnings (loss) before taxes from Disc Ops (19,052) (2,318) (1,050) (22,420) (196,836) (87,743) (5,703) (290,282) Income tax expense (benefit) 2,624 715 — 3,339 (4,550) 1,458 — (3,092) Net earnings (loss) from Disc Ops (21,676) (3,033) (1,050) (25,759) (192,286) (89,201) (5,703) (287,190) Less: Net earnings (loss) attributable to NCI from Disc Ops 294 (1) — 293 377 — — 377 Net earnings (loss) attributable to Fluor from Disc Ops $ (21,970) $ (3,032) $ (1,050) $ (26,052) $ (192,663) $ (89,201) $ (5,703) $ (287,567) |
| Assets and liabilities held for sale | The following summarized information related to assets and liabilities classified as held for sale: March 31, 2021 December 31, 2020 (in thousands) Stork AMECO Other Total from Disc Ops Other Assets and Liabilities from Cont Ops Total Stork AMECO Other Total from Disc Ops Other Assets and Liabilities from Cont Ops Total Accounts and notes receivable, net $ 208,151 $ 42,649 $ 10,476 $ 261,276 $ — $ 261,276 $ 245,105 $ 42,797 $ 10,475 $ 298,377 $ — $ 298,377 Contract assets 128,215 1,913 — 130,128 — 130,128 108,152 2,188 — 110,340 — 110,340 Other current assets 43,483 51,528 — 95,011 — 95,011 45,384 73,618 — 119,002 — 119,002 Current assets held for sale 379,849 96,090 10,476 486,415 — 486,415 398,641 118,603 10,475 527,719 — 527,719 Property, plant and equipment, net 90,686 82,190 — 172,876 24,508 197,384 97,258 67,380 — 164,638 24,538 189,176 Goodwill 121,374 — — 121,374 — 121,374 141,889 — — 141,889 — 141,889 Investments 4,240 — — 4,240 4,861 9,101 4,649 — — 4,649 5,064 9,713 Other assets 123,384 20,434 — 143,818 — 143,818 135,421 13,810 — 149,231 — 149,231 Noncurrent assets held for sale (1) 339,684 102,624 — 442,308 29,369 471,677 379,217 81,190 — 460,407 29,602 490,009 Total assets held for sale $ 719,533 $ 198,714 $ 10,476 $ 928,723 $ 29,369 $ 958,092 $ 777,858 $ 199,793 $ 10,475 $ 988,126 $ 29,602 $ 1,017,728 Accounts payable $ 119,177 $ 13,823 $ — $ 133,000 $ — $ 133,000 $ 116,580 $ 17,388 $ 13 $ 133,981 $ — $ 133,981 Short-term borrowings 22,115 — — 22,115 — 22,115 20,525 — — 20,525 — 20,525 Contract liabilities 41,252 784 — 42,036 — 42,036 46,997 782 — 47,779 — 47,779 Accrued salaries, wages and benefits 63,396 6,542 — 69,938 — 69,938 57,626 7,152 — 64,778 — 64,778 Other accrued liabilities 111,358 14,127 — 125,485 — 125,485 113,965 11,977 — 125,942 — 125,942 Current liabilities held for sale 357,298 35,276 — 392,574 — 392,574 355,693 37,299 13 393,005 — 393,005 Noncurrent liabilities held for sale (1) 89,913 13,037 — 102,950 — 102,950 98,940 9,478 — 108,418 — 108,418 Total liabilities held for sale $ 447,211 $ 48,313 $ — $ 495,524 $ — $ 495,524 $ 454,633 $ 46,777 $ 13 $ 501,423 $ — $ 501,423 (1) Noncurrent assets and liabilities held for sale as of March 31, 2021 were classified as current given the expected timing of the sale. |
| Schedule of cash flow, supplemental disclosures | Our cash flow information for the 2021 and 2020 Quarters included the following activities related to Disc Ops: Three Months Ended March 31, 2021 Three Months Ended March 31, 2020 (in thousands) Stork AMECO Total Stork AMECO Total Capital expenditures (3,344) (10,832) (14,176) (6,415) (8,073) (14,488) |
Earnings Per Share (Details)
| Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | |
| Mar. 31, 2021 | Mar. 31, 2020 | |
| Amounts attributable to Fluor: | ||
| Net earnings (loss) from Cont Ops | $ (60,972) | $ 21,608 |
| Net earnings (loss) from Disc Ops | (26,052) | (287,567) |
| Net earnings (loss) attributable to Fluor | $ (87,024) | $ (265,959) |
| Basic EPS attributable to Fluor: | ||
| Weighted average common shares outstanding (shares) | 140,900 | 140,262 |
| Net earnings (loss) from Cont Ops (in dollars per share) | $ (0.43) | $ 0.15 |
| Net earnings (loss) from Disc Ops (in dollars per share) | (0.19) | (2.05) |
| Net earnings (loss) (in dollars per share) | $ (0.62) | $ (1.90) |
| Diluted EPS attributable to Fluor: | ||
| Weighted average common shares outstanding (shares) | 140,900 | 140,262 |
| Dilutive effects: | ||
| Stock options, RSU's, Restricted stock and performance-based award units (in shares) | 0 | 0 |
| Weighted average diluted shares outstanding (in shares) | 140,900 | 140,262 |
| Net earnings (loss) from Cont Ops (in dollars per share) | $ (0.43) | $ 0.15 |
| Net earnings (loss) from Disc Ops (in dollars per share) | (0.19) | (2.05) |
| Net earnings (loss) (in dollars per share) | $ (0.62) | $ (1.90) |
| Anti-dilutive securities not in shares outstanding (in shares) | 1,900 | 438 |
Operating Information by Segm_3
| Operating Information by Segment and Geographic Area - Narrative (Details) - USD ($) $ in Thousands | 3 Months Ended | |
| Mar. 31, 2021 | Mar. 31, 2020 | |
| Segment reporting information | ||
| Revenue | $ 2,938,526 | $ 3,697,694 |
| Capital contributions by NCI | 42,101 | 19,968 |
| Energy Solutions | ||
| Segment reporting information | ||
| Expense from embedded foreign currency derivatives | 29,000 | |
| Equity method investments | 26,392 | 86,096 |
| Energy Solutions | Credit Losses Associated with Clients Affected by Impacts of COVID-19 | ||
| Segment reporting information | ||
| Impact of the recognition of reserves | 55,000 | |
| Urban Solutions | Reportable segments | ||
| Segment reporting information | ||
| Revenue | 69,000 | 77,000 |
| Other | Nu Scale Power | Reportable segments | ||
| Segment reporting information | ||
| Qualified expenses reimbursed | 15,000 | $ 13,000 |
| Other | Nu Scale Power | JGC Holdings Corporation | Reportable segments | ||
| Segment reporting information | ||
| Capital contributions by NCI | $ 40,000 | |
Operating Information by Segm_4
| Operating Information by Segment and Geographic Area - Reportable Segments (Details) - USD ($) $ in Thousands | 3 Months Ended | |
| Mar. 31, 2021 | Mar. 31, 2020 | |
| Segment Reporting Information [Line Items] | ||
| Revenue | $ 2,938,526 | $ 3,697,694 |
| Segment profit (loss) | (10,480) | (26,915) |
| Corporate G&A | (65,594) | (33,558) |
| Impairment, restructuring and other exit costs | (26,392) | (102,365) |
| Foreign currency gain (loss) | (11,270) | 45,162 |
| Earnings (loss) from Cont Ops before taxes | (27,555) | (31,541) |
| Urban Solutions | Reportable segments | ||
| Segment Reporting Information [Line Items] | ||
| Revenue | 69,000 | 77,000 |
| Continuing Operations | ||
| Segment Reporting Information [Line Items] | ||
| Corporate G&A | (65,500) | (33,600) |
| Impairment, restructuring and other exit costs | (26,400) | (102,400) |
| Foreign currency gain (loss) | (11,300) | 45,200 |
| Interest income (expense), net | (17,100) | (4,600) |
| Earnings (loss) attributable to NCI from Cont Ops | 32,800 | 9,100 |
| Earnings (loss) from Cont Ops before taxes | (27,600) | (31,600) |
| Continuing Operations | Reportable segments | ||
| Segment Reporting Information [Line Items] | ||
| Revenue | 2,938,500 | 3,697,700 |
| Segment profit (loss) | 59,900 | 54,700 |
| Continuing Operations | Energy Solutions | Reportable segments | ||
| Segment Reporting Information [Line Items] | ||
| Revenue | 991,000 | 1,359,300 |
| Segment profit (loss) | 2,200 | (5,900) |
| Continuing Operations | Urban Solutions | Reportable segments | ||
| Segment Reporting Information [Line Items] | ||
| Revenue | 1,194,200 | 1,592,200 |
| Segment profit (loss) | 29,800 | 51,300 |
| Continuing Operations | Mission Solutions | Reportable segments | ||
| Segment Reporting Information [Line Items] | ||
| Revenue | 753,300 | 746,200 |
| Segment profit (loss) | 43,600 | 32,100 |
| Continuing Operations | Other | Reportable segments | ||
| Segment Reporting Information [Line Items] | ||
| Segment profit (loss) | $ (15,700) | $ (22,800) |
Operating Information by Segm_5
| Operating Information by Segment and Geographic Area - Total Assets (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
| Segment reporting information | ||
| Total assets | $ 7,020,915 | $ 7,309,812 |
| Disc Ops - Assets held for sale | ||
| Segment reporting information | ||
| Total assets | 928,700 | 988,100 |
| Reportable segments | Energy Solutions | ||
| Segment reporting information | ||
| Total assets | 1,017,600 | 1,010,900 |
| Reportable segments | Urban Solutions | ||
| Segment reporting information | ||
| Total assets | 1,134,000 | 1,122,500 |
| Reportable segments | Mission Solutions | ||
| Segment reporting information | ||
| Total assets | 620,900 | 575,800 |
| Reportable segments | Other | ||
| Segment reporting information | ||
| Total assets | 37,800 | 37,800 |
| Corporate | ||
| Segment reporting information | ||
| Total assets | $ 3,281,900 | $ 3,574,700 |
Operating Information by Segm_6
| Operating Information by Segment and Geographic Area - External Revenue and Total Assets by Geographic Area (Details) - USD ($) $ in Thousands | 3 Months Ended | |
| Mar. 31, 2021 | Mar. 31, 2020 | |
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||
| Revenue | $ 2,938,526 | $ 3,697,694 |
| North America | ||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||
| Revenue | 1,971,600 | 2,328,500 |
| Asia Pacific (including Australia) | ||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||
| Revenue | 336,700 | 308,700 |
| Europe | ||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||
| Revenue | 254,900 | 476,900 |
| Central and South America | ||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||
| Revenue | 264,700 | 423,700 |
| Middle East and Africa | ||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||
| Revenue | $ 110,600 | $ 159,900 |
Impairment, Restructuring and_3
| Impairment, Restructuring and Other Exit Costs - Schedule of Impairment (Details) - USD ($) $ in Thousands | 3 Months Ended | |
| Mar. 31, 2021 | Mar. 31, 2020 | |
| Restructuring [Line Items] | ||
| Total impairment expense | $ 26,392 | $ 102,365 |
| Technology-Based Intangible Assets | ||
| Restructuring [Line Items] | ||
| Information technology assets | 0 | 16,269 |
| Energy Solutions | ||
| Restructuring [Line Items] | ||
| Energy Solutions' equity method investments | $ 26,392 | $ 86,096 |
Impairment, Restructuring and_4
| Impairment, Restructuring and Other Exit Costs - Restructuring Liability (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
| Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |
| Restructuring Reserve [Roll Forward] | |||
| Restructuring charges accrued during the period | $ 26,392 | $ 102,365 | |
| Severance | |||
| Restructuring Reserve [Roll Forward] | |||
| Restructuring reserve balance at the beginning of the period | 16,481 | 30,479 | $ 30,479 |
| Restructuring charges accrued during the period | 3,720 | ||
| Cash payments / settlements during the period | (6,332) | (18,858) | |
| Currency translation | (650) | 1,140 | |
| Restructuring reserve balance at the end of the period | 9,499 | 16,481 | |
| Lease Exit Costs | |||
| Restructuring Reserve [Roll Forward] | |||
| Restructuring reserve balance at the beginning of the period | 106 | 564 | 564 |
| Restructuring charges accrued during the period | 334 | ||
| Cash payments / settlements during the period | 0 | (793) | |
| Currency translation | 0 | 1 | |
| Restructuring reserve balance at the end of the period | 106 | 106 | |
| Total | |||
| Restructuring Reserve [Roll Forward] | |||
| Restructuring reserve balance at the beginning of the period | 16,587 | $ 31,043 | 31,043 |
| Restructuring charges accrued during the period | 4,054 | ||
| Cash payments / settlements during the period | (6,332) | (19,651) | |
| Currency translation | (650) | 1,141 | |
| Restructuring reserve balance at the end of the period | $ 9,605 | $ 16,587 | |
Income Taxes - Narrative (Detai
| Income Taxes - Narrative (Details) | 3 Months Ended | |
| Mar. 31, 2021 | Mar. 31, 2020 | |
| Income Tax Disclosure [Abstract] | ||
| Effective tax rate, continuing operations (as a percent) | (2.20%) | 197.50% |
Cash Paid for Interest and Ta_3
| Cash Paid for Interest and Taxes (Details) - USD ($) $ in Thousands | 3 Months Ended | |
| Mar. 31, 2021 | Mar. 31, 2020 | |
| Cash paid during the year for: | ||
| Interest | $ 29,784 | $ 26,624 |
| Income taxes (net of refunds) | $ 31,794 | $ 7,486 |
Partnerships and Joint Ventur_2
| Partnerships and Joint Ventures - Narrative (Details) - USD ($) $ in Millions | 3 Months Ended | |
| Mar. 31, 2021 | Dec. 31, 2020 | |
| Cooec Fluor Heavy Industries Co. Limited | ||
| Variable interest entity information | ||
| Commitment amount | $ 26 | |
| Cooec Fluor Heavy Industries Co. Limited | ||
| Variable interest entity information | ||
| Ownership percentage | 49.00% | |
| Variable Interest Entity, Not Primary Beneficiary | Accounts and notes receivable, net | ||
| Variable interest entity information | ||
| Receivables related to work performed for unconsolidated partnerships and joint ventures | $ 215 | $ 207 |
| Minority Interest Ownership Percentage by Parent | Majority | Partnership | ||
| Variable interest entity information | ||
| Entity's interest in partnership or joint venture (as a percent) | 50.00% |
Partnerships and Joint Ventur_3
| Partnerships and Joint Ventures - Variable Interest Entities (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
| Variable interest entity information | ||
| Carrying value of assets | $ 7,020,915 | $ 7,309,812 |
| Variable Interest Entity, Not Primary Beneficiary | ||
| Variable interest entity information | ||
| Net Assets | 182,000 | 174,000 |
| Variable Interest Entity, Not Primary Beneficiary | Future funding commitment | ||
| Variable interest entity information | ||
| Commitment amount | 57,000 | |
| Variable Interest Entity, Primary Beneficiary | ||
| Variable interest entity information | ||
| Carrying value of assets | 1,300,000 | 1,200,000 |
| Carrying value of liabilities | $ 630,000 | $ 688,000 |
Guarantees - Narrative (Details
| Guarantees - Narrative (Details) $ in Billions | Mar. 31, 2021USD ($) |
| Performance Guarantee | |
| Guarantor Obligations [Line Items] | |
| Estimated performance guarantees outstanding | $ 16 |
Contingencies and Commitments -
| Contingencies and Commitments - Narrative (Details) $ in Millions | Aug. 23, 2019AUD ($) | Dec. 13, 2016AUD ($) | Sep. 30, 2018action | Mar. 31, 2021USD ($) | Dec. 31, 2020USD ($) | Aug. 31, 2019USD ($) | Aug. 23, 2019USD ($) | Aug. 12, 2016USD ($) |
| Loss Contingencies [Line Items] | ||||||||
| Number of actions filed | action | 10 | |||||||
| Contracts receivable | $ 216,000,000 | $ 216,000,000 | ||||||
| Pending Litigation | ||||||||
| Loss Contingencies [Line Items] | ||||||||
| Damages sought | $ 1,470 | |||||||
| Sadara Chemical Company | Pending Litigation | ||||||||
| Loss Contingencies [Line Items] | ||||||||
| Damages sought | $ 100 | |||||||
| Estimate of possible loss | $ 636,000,000 | |||||||
| Fluor/TECHINT | Pending Litigation | ||||||||
| Loss Contingencies [Line Items] | ||||||||
| Estimate of possible loss | $ 330,000,000 | $ 250,000,000 | ||||||
| Barrick | Fluor/TECHINT | ||||||||
| Loss Contingencies [Line Items] | ||||||||
| Letters of credit outstanding, amount | $ 36,000,000 | |||||||
| Parent Company | Barrick | Fluor/TECHINT | ||||||||
| Loss Contingencies [Line Items] | ||||||||
| Letters of credit outstanding, amount | 24,000,000 | |||||||
| Partnership Interest | Barrick | Fluor/TECHINT | ||||||||
| Loss Contingencies [Line Items] | ||||||||
| Letters of credit outstanding, amount | $ 12,000,000 |
Contract Assets and Liabiliti_3
| Contract Assets and Liabilities (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
| Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |
| Contract assets | |||
| Unbilled receivables - reimbursable contracts | $ 641,000 | $ 590,000 | |
| Contract work in progress - lump-sum contracts | 366,000 | 270,000 | |
| Contract assets | 1,007,283 | 859,675 | |
| Advance billings deducted from contract assets | 266,000 | $ 308,000 | |
| Information about contract liabilities: | |||
| Revenue recognized that was included in contract liabilities as of January 1 | $ 494,000 | $ 488,000 | |
Remaining Unsatisfied Perform_3
| Remaining Unsatisfied Performance Obligations - Schedule of remaining performance obligation (Details) $ in Millions | Mar. 31, 2021USD ($) |
| Revenue from Contract with Customer [Abstract] | |
| Remaining unsatisfied performance obligation | $ 23,250 |
| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-04-01 | |
| Revenue from Contract with Customer [Abstract] | |
| Remaining unsatisfied performance obligation | $ 10,783 |
| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
| Remaining unsatisfied performance obligation ( in years ) | 9 months |
| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | |
| Revenue from Contract with Customer [Abstract] | |
| Remaining unsatisfied performance obligation | $ 6,438 |
| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
| Remaining unsatisfied performance obligation ( in years ) | 1 year |
| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | |
| Revenue from Contract with Customer [Abstract] | |
| Remaining unsatisfied performance obligation | $ 6,029 |
| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
| Remaining unsatisfied performance obligation ( in years ) |
Remaining Unsatisfied Perform_4
| Remaining Unsatisfied Performance Obligations - Narrative (Details) $ in Billions | 3 Months Ended |
| Mar. 31, 2021USD ($) | |
| Energy Solutions | North America | |
| Segment Reporting Information [Line Items] | |
| Decrease in remaining unsatisfied performance obligation from cancelled project | $ 1 |
Debt and Lines of Credit - Sche
| Debt and Lines of Credit - Schedule of Debt (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
| Financing Arrangements | ||
| Long-term debt | $ 1,678,496 | $ 1,701,098 |
| Long-term Debt, Gross | 1,678,496 | 1,701,098 |
| 1.750% Senior Notes | ||
| Financing Arrangements | ||
| Long-term debt | 588,050 | 611,250 |
| Unamortized discount | (242) | (283) |
| Unamortized deferred financing costs | (1,043) | (1,203) |
| 3.5% Senior Notes | ||
| Financing Arrangements | ||
| Long-term debt | 500,000 | 500,000 |
| Unamortized discount | (1,996) | (2,130) |
| Unamortized deferred financing costs | (1,564) | (1,670) |
| Senior Notes 4.25 Percent Due15 September2028 | ||
| Financing Arrangements | ||
| Long-term debt | 600,000 | 600,000 |
| Unamortized discount | (950) | (981) |
| Unamortized deferred financing costs | $ (3,759) | $ (3,885) |
Debt and Lines of Credit - Narr
| Debt and Lines of Credit - Narrative (Details) - Lines of credit € in Millions | 3 Months Ended | ||
| Mar. 31, 2021USD ($) | Mar. 31, 2020 | Mar. 31, 2021EUR (€) | |
| Committed Line of Credit | |||
| Financing Arrangements | |||
| Amount outstanding under credit facilities | $ 414,000,000 | ||
| Current borrowing capacity | 869,000,000 | ||
| Committed Line of Credit | Revolving Loan And Letter Of Credit Facility Agreement | |||
| Financing Arrangements | |||
| Maximum borrowing capacity | 1,650,000,000 | ||
| Committed Line of Credit | Revolving Loan And Letter Of Credit Facility Agreement | Subsidiaries | |||
| Financing Arrangements | |||
| Covenant minimum liquidity | 1,500,000,000 | ||
| Covenant minimum liquidity, after repayments of debt | 1,250,000,000 | ||
| Committed Line of Credit | Revolving Loan And Letter Of Credit Facility Agreement | Minimum | |||
| Financing Arrangements | |||
| Ratio of consolidated debt to tangible net worth (as a percent) | 65.00% | ||
| Committed Line of Credit | Revolving Loan And Letter Of Credit Facility Agreement | Maximum | |||
| Financing Arrangements | |||
| Ratio of consolidated debt to tangible net worth (as a percent) | 100.00% | ||
| Committed Line of Credit | Revolving Loan And Letter Of Credit Facility Agreement | Maximum | Subsidiaries | |||
| Financing Arrangements | |||
| Aggregate amount of debt | 750,000,000 | € 750 | |
| Uncommitted Line of Credit | |||
| Financing Arrangements | |||
| Amount outstanding under credit facilities | $ 927,000,000 | ||
Fair Value Measurements - Recur
| Fair Value Measurements - Recurring Basis (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
| Fair value of assets and liabilities measured on recurring basis | ||
| Derivative assets | $ 19,584 | $ 22,188 |
| Derivative liabilities | 1,293 | 29 |
| Fair Value, Measurements, Recurring | ||
| Fair value of assets and liabilities measured on recurring basis | ||
| Deferred compensation trusts | 10,168 | 9,626 |
| Fair Value, Measurements, Recurring | Foreign currency contracts | ||
| Fair value of assets and liabilities measured on recurring basis | ||
| Derivative assets | 22,987 | 22,667 |
| Derivative liabilities | 4,928 | 2,571 |
| Fair Value, Measurements, Recurring | Commodity | ||
| Fair value of assets and liabilities measured on recurring basis | ||
| Derivative assets | 2,211 | 806 |
| Derivative liabilities | 2,715 | 5,059 |
| Fair Value, Measurements, Recurring | Level 1 | ||
| Fair value of assets and liabilities measured on recurring basis | ||
| Deferred compensation trusts | 10,168 | 9,626 |
| Fair Value, Measurements, Recurring | Level 2 | Foreign currency contracts | ||
| Fair value of assets and liabilities measured on recurring basis | ||
| Derivative assets | 22,987 | 22,667 |
| Derivative liabilities | 4,928 | 2,571 |
| Fair Value, Measurements, Recurring | Level 2 | Commodity | ||
| Fair value of assets and liabilities measured on recurring basis | ||
| Derivative assets | 2,211 | 806 |
| Derivative liabilities | $ 2,715 | $ 5,059 |
Fair Value Measurements - Finan
| Fair Value Measurements - Financial Instruments Not Required to be Measured at Fair Value (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
| Carrying Value | Level 2 | ||
| Estimated fair values of the company's financial instruments that are not measured at fair value on a recurring basis | ||
| Marketable securities, current | $ 18,698 | $ 23,345 |
| Carrying Value | Level 2 | 1.750% Senior Notes | ||
| Estimated fair values of the company's financial instruments that are not measured at fair value on a recurring basis | ||
| Debt | 586,765 | 609,764 |
| Carrying Value | Level 2 | 3.375% Senior Notes | ||
| Estimated fair values of the company's financial instruments that are not measured at fair value on a recurring basis | ||
| Debt | 496,440 | 496,200 |
| Carrying Value | Level 2 | 3.5% Senior Notes | ||
| Estimated fair values of the company's financial instruments that are not measured at fair value on a recurring basis | ||
| Debt | 595,291 | 595,134 |
| Carrying Value | Level 2 | Other borrowings | ||
| Estimated fair values of the company's financial instruments that are not measured at fair value on a recurring basis | ||
| Debt | 4,704 | 4,890 |
| Carrying Value | Level 3 | ||
| Estimated fair values of the company's financial instruments that are not measured at fair value on a recurring basis | ||
| Notes receivable, including noncurrent portion | 26,485 | 28,488 |
| Fair Value | Level 2 | ||
| Estimated fair values of the company's financial instruments that are not measured at fair value on a recurring basis | ||
| Marketable securities, current | 18,698 | 23,345 |
| Fair Value | Level 2 | 1.750% Senior Notes | ||
| Estimated fair values of the company's financial instruments that are not measured at fair value on a recurring basis | ||
| Debt | 580,035 | 578,554 |
| Fair Value | Level 2 | 3.375% Senior Notes | ||
| Estimated fair values of the company's financial instruments that are not measured at fair value on a recurring basis | ||
| Debt | 514,620 | 494,045 |
| Fair Value | Level 2 | 3.5% Senior Notes | ||
| Estimated fair values of the company's financial instruments that are not measured at fair value on a recurring basis | ||
| Debt | 610,236 | 599,220 |
| Fair Value | Level 2 | Other borrowings | ||
| Estimated fair values of the company's financial instruments that are not measured at fair value on a recurring basis | ||
| Debt | 4,704 | 4,890 |
| Fair Value | Level 3 | ||
| Estimated fair values of the company's financial instruments that are not measured at fair value on a recurring basis | ||
| Notes receivable, including noncurrent portion | 26,485 | 28,488 |
| Cash | Carrying Value | Level 1 | ||
| Estimated fair values of the company's financial instruments that are not measured at fair value on a recurring basis | ||
| Cash and cash equivalents | 1,101,980 | 1,180,024 |
| Cash | Fair Value | Level 1 | ||
| Estimated fair values of the company's financial instruments that are not measured at fair value on a recurring basis | ||
| Cash and cash equivalents | 1,101,980 | 1,180,024 |
| Cash equivalents | Carrying Value | Level 2 | ||
| Estimated fair values of the company's financial instruments that are not measured at fair value on a recurring basis | ||
| Cash and cash equivalents | 835,820 | 1,018,757 |
| Cash equivalents | Fair Value | Level 2 | ||
| Estimated fair values of the company's financial instruments that are not measured at fair value on a recurring basis | ||
| Cash and cash equivalents | $ 835,820 | $ 1,018,757 |
Stock-Based Compensation - Narr
| Stock-Based Compensation - Narrative (Details) - $ / shares | 3 Months Ended | |
| Mar. 31, 2021 | Mar. 31, 2020 | |
| Restricted stock units | Executives | ||
| Stock-Based Plans | ||
| Granted (in shares) | 545,527 | 0 |
| Granted, weighted average grant date fair value (in dollars per share) | $ 18.13 | |
| Vesting period ( in years ) | 3 years | 3 years |
| Stock options | ||
| Stock-Based Plans | ||
| Vesting period ( in years ) | 3 years | |
| Expiration period (in years) | 10 years | |
| Stock options | Executives | ||
| Stock-Based Plans | ||
| Options granted (in shares) | 481,626 | 0 |
| Options granted weighted-average exercise price, per share (in dollars per share) | $ 17.96 | |
| Performance-based awards | Executives | ||
| Stock-Based Plans | ||
| Granted (in shares) | 613,868 | 0 |
| Vesting period ( in years ) | 3 years | |
| Post-vest holding period ( in years ) | 3 years | |
Stock-Based Compensation - Sche
| Stock-Based Compensation - Schedule of Performance-Based Awards Granted (Details) | 3 Months Ended |
| Mar. 31, 2021$ / sharesshares | |
| 2021 Performance Award Plan | |
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
| Performance-based Award Units Granted (in shares) | shares | 204,623 |
| Weighted Average Grant Date Fair Value Per Share (in dollars per share) | $ / shares | $ 20.49 |
| 2020 Performance Award Plan | |
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
| Performance-based Award Units Granted (in shares) | shares | 385,455 |
| Weighted Average Grant Date Fair Value Per Share (in dollars per share) | $ / shares | $ 19.98 |
| 2019 Performance Award Plan | |
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
| Performance-based Award Units Granted (in shares) | shares | 116,844 |
| Weighted Average Grant Date Fair Value Per Share (in dollars per share) | $ / shares | $ 20.18 |
Retirement Plans - Net Periodic
| Retirement Plans - Net Periodic Pension Expense and Narrative (Details) - Defined Benefit Pension Plans - USD ($) $ in Thousands | 3 Months Ended | |
| Mar. 31, 2021 | Mar. 31, 2020 | |
| Net periodic pension expense for defined benefit pension plans | ||
| Service cost | $ 4,393 | $ 4,205 |
| Interest cost | 1,778 | 2,240 |
| Expected return on assets | (7,239) | (6,304) |
| Amortization of prior service credit | (218) | (218) |
| Recognized net actuarial loss | 1,437 | 1,138 |
| Net periodic pension expense | 151 | $ 1,061 |
| Company contributions | 10,000 | |
| Maximum | ||
| Net periodic pension expense for defined benefit pension plans | ||
| Expected contributions during next fiscal year | $ 16,000 | |
Derivatives and Hedging - Narra
| Derivatives and Hedging - Narrative (Details) $ in Millions | Mar. 31, 2021USD ($) |
| Foreign currency contracts | |
| Derivatives, Fair Value [Line Items] | |
| Gross notional amounts | $ 656 |
| Foreign currency contracts | Not Designated as Hedging Instrument | |
| Derivatives, Fair Value [Line Items] | |
| Gross notional amounts | 197 |
| Commodity Contract | Not Designated as Hedging Instrument | |
| Derivatives, Fair Value [Line Items] | |
| Gross notional amounts | 28 |
| Commodity Contract | Designated as Hedging Instrument | |
| Derivatives, Fair Value [Line Items] | |
| Gross notional amounts | $ 0 |
Derivatives and Hedging - Notio
| Derivatives and Hedging - Notional Amounts and Fair Values (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
| Derivatives, Fair Value [Line Items] | ||
| Asset Derivatives | $ 19,584 | $ 22,188 |
| Liability Derivatives | 1,293 | 29 |
| Foreign currency contracts | Other current assets | ||
| Derivatives, Fair Value [Line Items] | ||
| Asset Derivatives | 16,789 | 20,004 |
| Foreign currency contracts | Other assets | ||
| Derivatives, Fair Value [Line Items] | ||
| Asset Derivatives | 2,795 | 2,184 |
| Foreign currency contracts | Other accrued liabilities | ||
| Derivatives, Fair Value [Line Items] | ||
| Liability Derivatives | 1,244 | 4 |
| Foreign currency contracts | Noncurrent liabilities | ||
| Derivatives, Fair Value [Line Items] | ||
| Liability Derivatives | $ 49 | $ 25 |
Derivatives and Hedging - Gains
| Derivatives and Hedging - Gains (Losses) Associated with Fair Value and Cash Flow Hedges (Details) - USD ($) $ in Thousands | 3 Months Ended | |
| Mar. 31, 2021 | Mar. 31, 2020 | |
| Derivative Instruments, Gain (Loss) | ||
| After-Tax Amount of Gain (Loss) Recognized in OCI | $ 872 | $ (5,251) |
| After-Tax Amount of Gain (Loss) Reclassified from AOCI into Earnings | 3,923 | 219 |
| Foreign currency contracts | Cost of revenue | ||
| Derivative Instruments, Gain (Loss) | ||
| After-Tax Amount of Gain (Loss) Recognized in OCI | 872 | (5,140) |
| After-Tax Amount of Gain (Loss) Reclassified from AOCI into Earnings | 4,342 | 626 |
| Commodity Contract | ||
| Derivative Instruments, Gain (Loss) | ||
| After-Tax Amount of Gain (Loss) Recognized in OCI | 0 | (111) |
| Commodity Contract | Cost of revenue | ||
| Derivative Instruments, Gain (Loss) | ||
| After-Tax Amount of Gain (Loss) Reclassified from AOCI into Earnings | 0 | 12 |
| Interest rate contracts | Interest expense | ||
| Derivative Instruments, Gain (Loss) | ||
| After-Tax Amount of Gain (Loss) Recognized in OCI | 0 | 0 |
| After-Tax Amount of Gain (Loss) Reclassified from AOCI into Earnings | $ (419) | $ (419) |
Other Comprehensive Income (L_3
| Other Comprehensive Income (Loss) - Tax Effects of Components of Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
| Mar. 31, 2021 | Mar. 31, 2020 | |
| Other comprehensive income (loss), Before-Tax Amount: | ||
| Before-Tax Amount | $ (1,978) | $ (118,492) |
| Other comprehensive income (loss), Tax Benefit (Expense): | ||
| Tax Benefit (Expense) | 1,213 | (5,205) |
| Other comprehensive income (loss), Net-of-Tax Amount: | ||
| Total OCI, net of tax | (765) | (123,697) |
| Foreign currency translation adjustments | ||
| Other comprehensive income (loss), Before-Tax Amount: | ||
| Before-Tax Amount | 2,710 | (111,101) |
| Other comprehensive income (loss), Tax Benefit (Expense): | ||
| Tax Benefit (Expense) | (11) | 0 |
| Other comprehensive income (loss), Net-of-Tax Amount: | ||
| Total OCI, net of tax | 2,699 | (111,101) |
| Ownership share of equity method investees’ OCI | ||
| Other comprehensive income (loss), Before-Tax Amount: | ||
| Before-Tax Amount | (2,439) | (2,519) |
| Other comprehensive income (loss), Tax Benefit (Expense): | ||
| Tax Benefit (Expense) | 375 | (5,653) |
| Other comprehensive income (loss), Net-of-Tax Amount: | ||
| Total OCI, net of tax | (2,064) | (8,172) |
| DB plan adjustments | ||
| Other comprehensive income (loss), Before-Tax Amount: | ||
| Before-Tax Amount | 1,200 | 1,002 |
| Other comprehensive income (loss), Tax Benefit (Expense): | ||
| Tax Benefit (Expense) | 451 | 44 |
| Other comprehensive income (loss), Net-of-Tax Amount: | ||
| Total OCI, net of tax | 1,651 | 1,046 |
| Unrealized gain (loss) on hedges | ||
| Other comprehensive income (loss), Before-Tax Amount: | ||
| Before-Tax Amount | (3,449) | (5,874) |
| Other comprehensive income (loss), Tax Benefit (Expense): | ||
| Tax Benefit (Expense) | 398 | 404 |
| Other comprehensive income (loss), Net-of-Tax Amount: | ||
| Total OCI, net of tax | (3,051) | (5,470) |
| Less: OCI attributable to NCI | ||
| Other comprehensive income (loss), Before-Tax Amount: | ||
| Before-Tax Amount | (202) | (4,217) |
| Other comprehensive income (loss), Tax Benefit (Expense): | ||
| Tax Benefit (Expense) | 0 | 0 |
| Other comprehensive income (loss), Net-of-Tax Amount: | ||
| Total OCI, net of tax | (202) | (4,217) |
| AOCI | ||
| Other comprehensive income (loss), Before-Tax Amount: | ||
| Before-Tax Amount | (1,776) | (114,275) |
| Other comprehensive income (loss), Tax Benefit (Expense): | ||
| Tax Benefit (Expense) | 1,213 | (5,205) |
| Other comprehensive income (loss), Net-of-Tax Amount: | ||
| Total OCI, net of tax | $ (563) | $ (119,480) |
Other Comprehensive Income (L_4
| Other Comprehensive Income (Loss) - Changes in AOCI Balances by Component (Details) - USD ($) $ in Thousands | 3 Months Ended | |
| Mar. 31, 2021 | Mar. 31, 2020 | |
| Changes in AOCI balances by component (after-tax) | ||
| Balance, beginning of year | $ 1,263,227 | $ 1,584,092 |
| Total OCI, net of tax | (765) | (123,697) |
| Balance, end of year | 1,244,657 | 1,210,165 |
| AOCI, Net | ||
| Changes in AOCI balances by component (after-tax) | ||
| Balance, beginning of year | (416,906) | (379,873) |
| Other comprehensive income (loss) before reclassifications | 1,570 | (120,448) |
| Amounts reclassified from AOCI | (2,133) | 968 |
| Total OCI, net of tax | (563) | (119,480) |
| Balance, end of year | (417,469) | (499,353) |
| Foreign Currency Translation | ||
| Changes in AOCI balances by component (after-tax) | ||
| Balance, beginning of year | (260,960) | (242,950) |
| Other comprehensive income (loss) before reclassifications | 2,901 | (106,884) |
| Amounts reclassified from AOCI | 0 | 0 |
| Total OCI, net of tax | 2,901 | (106,884) |
| Balance, end of year | (258,059) | (349,834) |
| Ownership Share of Equity Method Investees’ OCI | ||
| Changes in AOCI balances by component (after-tax) | ||
| Balance, beginning of year | (53,984) | (35,456) |
| Other comprehensive income (loss) before reclassifications | (2,203) | (8,313) |
| Amounts reclassified from AOCI | 139 | 141 |
| Total OCI, net of tax | (2,064) | (8,172) |
| Balance, end of year | (56,048) | (43,628) |
| DB Plans | ||
| Changes in AOCI balances by component (after-tax) | ||
| Balance, beginning of year | (118,589) | (99,197) |
| Other comprehensive income (loss) before reclassifications | 0 | 0 |
| Amounts reclassified from AOCI | 1,651 | 1,046 |
| Total OCI, net of tax | 1,651 | 1,046 |
| Balance, end of year | (116,938) | (98,151) |
| Unrealized Gain (Loss) on Hedges | ||
| Changes in AOCI balances by component (after-tax) | ||
| Balance, beginning of year | 16,627 | (2,270) |
| Other comprehensive income (loss) before reclassifications | 872 | (5,251) |
| Amounts reclassified from AOCI | (3,923) | (219) |
| Total OCI, net of tax | (3,051) | (5,470) |
| Balance, end of year | 13,576 | (7,740) |
| Accumulated Other Comprehensive Income (Loss), Net Attributable to Noncontrolling Interests | ||
| Changes in AOCI balances by component (after-tax) | ||
| Balance, beginning of year | (4,168) | (5,051) |
| Balance, end of year | (4,370) | (9,268) |
| Foreign Currency Translation | ||
| Changes in AOCI balances by component (after-tax) | ||
| Balance, beginning of year | (4,168) | (5,051) |
| Other comprehensive income (loss) before reclassifications | (202) | (4,217) |
| Amounts reclassified from AOCI | 0 | 0 |
| Total OCI, net of tax | (202) | (4,217) |
| Balance, end of year | (4,370) | (9,268) |
| Ownership Share of Equity Method Investees’ Other Comprehensive Income (Loss) | ||
| Changes in AOCI balances by component (after-tax) | ||
| Balance, beginning of year | 0 | 0 |
| Other comprehensive income (loss) before reclassifications | 0 | 0 |
| Amounts reclassified from AOCI | 0 | 0 |
| Total OCI, net of tax | 0 | 0 |
| Balance, end of year | 0 | 0 |
| Defined Benefit Pension and Postretirement Plans | ||
| Changes in AOCI balances by component (after-tax) | ||
| Balance, beginning of year | 0 | 0 |
| Other comprehensive income (loss) before reclassifications | 0 | 0 |
| Amounts reclassified from AOCI | 0 | 0 |
| Total OCI, net of tax | 0 | 0 |
| Balance, end of year | 0 | 0 |
| Unrealized Gain (Loss) on Derivative Contracts | ||
| Changes in AOCI balances by component (after-tax) | ||
| Balance, beginning of year | 0 | 0 |
| Other comprehensive income (loss) before reclassifications | 0 | 0 |
| Amounts reclassified from AOCI | 0 | 0 |
| Total OCI, net of tax | 0 | 0 |
| Balance, end of year | 0 | 0 |
| NCI | ||
| Changes in AOCI balances by component (after-tax) | ||
| Balance, beginning of year | 232,980 | 96,340 |
| Other comprehensive income (loss) before reclassifications | (202) | (4,217) |
| Amounts reclassified from AOCI | 0 | 0 |
| Total OCI, net of tax | (202) | (4,217) |
| Balance, end of year | $ 261,003 | $ 118,520 |
Other Comprehensive Income (L_5
| Other Comprehensive Income (Loss) - Significant Items Reclassified Out of AOCI (Details) - USD ($) $ in Thousands | 3 Months Ended | |
| Mar. 31, 2021 | Mar. 31, 2020 | |
| Reclassifications out of accumulated other comprehensive income (loss) | ||
| Cost of revenue | $ (2,845,750) | $ (3,633,848) |
| Income tax expense (benefit) | (598) | 62,281 |
| Interest expense | (20,724) | (16,551) |
| Net earnings (loss) | (53,912) | (256,450) |
| Ownership Share of Equity Method Investees’ OCI | Reclassified out of AOCI | ||
| Reclassifications out of accumulated other comprehensive income (loss) | ||
| Cost of revenue | (186) | (188) |
| Income tax expense (benefit) | 47 | 47 |
| Net of tax | (139) | (141) |
| DB Plans | Reclassified out of AOCI | ||
| Reclassifications out of accumulated other comprehensive income (loss) | ||
| Income tax expense (benefit) | (451) | (44) |
| Corporate G&A | (1,200) | (1,002) |
| Net of tax | (1,651) | (1,046) |
| AOCI, Net | Reclassified out of AOCI | ||
| Reclassifications out of accumulated other comprehensive income (loss) | ||
| Income tax expense (benefit) | (876) | (4) |
| Net earnings (loss) | 3,923 | 219 |
| AOCI, Net | Reclassified out of AOCI | Commodity and foreign currency contracts | ||
| Reclassifications out of accumulated other comprehensive income (loss) | ||
| Cost of revenue | 5,218 | 642 |
| AOCI, Net | Reclassified out of AOCI | Interest rate contracts | ||
| Reclassifications out of accumulated other comprehensive income (loss) | ||
| Interest expense | $ (419) | $ (419) |
Discontinued Operations - Sched
| Discontinued Operations - Schedule of Impairment Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | |
| Mar. 31, 2021 | Mar. 31, 2020 | |
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
| Impairment expense | $ 20,500 | $ 295,239 |
| Discontinued Operations | ||
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
| Impairment expense | 295,239 | |
| Discontinued Operations | Stork | ||
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
| Impairment expense | 20,500 | 195,239 |
| Discontinued Operations | AMECO | ||
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
| Impairment expense | 100,000 | |
| Discontinued Operations | Goodwill | ||
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
| Impairment expense | 180,868 | |
| Discontinued Operations | Goodwill | Stork | ||
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
| Impairment expense | 12,700 | 168,568 |
| Discontinued Operations | Goodwill | AMECO | ||
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
| Impairment expense | 12,300 | |
| Discontinued Operations | Intangible customer relationships | ||
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
| Impairment expense | 26,671 | |
| Discontinued Operations | Intangible customer relationships | Stork | ||
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
| Impairment expense | 0 | 26,671 |
| Discontinued Operations | Intangible customer relationships | AMECO | ||
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
| Impairment expense | 0 | |
| Discontinued Operations | Fair value adjustment and expected costs associated with sale | ||
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
| Impairment expense | 87,700 | |
| Discontinued Operations | Fair value adjustment and expected costs associated with sale | Stork | ||
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
| Impairment expense | $ 7,800 | 0 |
| Discontinued Operations | Fair value adjustment and expected costs associated with sale | AMECO | ||
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
| Impairment expense | $ 87,700 | |
Discontinued Operations - Narra
| Discontinued Operations - Narrative (Details) - Level 3 - Customer Relationships | Mar. 31, 2021 |
| Weighted Average Long-term Revenue Growth Rate | |
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
| Intangible assets, measurement input | 2.40% |
| Weighted Average Cost of Capital | |
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
| Intangible assets, measurement input | 12.00% |
| Customer Attrition Factor | |
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
| Intangible assets, measurement input | 10.00% |
| Minimum | Long-term Revenue Growth Rate | |
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
| Intangible assets, measurement input | 2.00% |
| Maximum | Long-term Revenue Growth Rate | |
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
| Intangible assets, measurement input | 5.50% |
Discontinued Operations - Finan
| Discontinued Operations - Financial Information of Discontinued Operations (Details) - USD ($) $ in Thousands | 3 Months Ended | |
| Mar. 31, 2021 | Mar. 31, 2020 | |
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
| Less: Net earnings (loss) attributable to NCI from Disc Ops | $ 293 | $ 377 |
| Net earnings (loss) attributable to Fluor from Disc Ops | (26,052) | (287,567) |
| Discontinued Operations | ||
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
| Revenue | 424,968 | 481,399 |
| Cost of revenue | 426,103 | 473,608 |
| Gross profit | (1,135) | 7,791 |
| Corporate G&A | (378) | (21) |
| Impairment expense | (20,500) | (295,239) |
| Foreign currency gain (loss) | 842 | (1,218) |
| Operating profit | (21,171) | (288,687) |
| Interest (expense) income, net | (1,249) | (1,595) |
| Earnings (loss) before taxes from Disc Ops | (22,420) | (290,282) |
| Income tax expense (benefit) | 3,339 | (3,092) |
| Net earnings (loss) from Disc Ops | (25,759) | (287,190) |
| Less: Net earnings (loss) attributable to NCI from Disc Ops | 293 | 377 |
| Net earnings (loss) attributable to Fluor from Disc Ops | (26,052) | (287,567) |
| Discontinued Operations | Stork | ||
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
| Revenue | 384,252 | 420,012 |
| Cost of revenue | 381,083 | 418,818 |
| Gross profit | 3,169 | 1,194 |
| Corporate G&A | (378) | 0 |
| Impairment expense | (20,500) | (195,239) |
| Foreign currency gain (loss) | 10 | (1,146) |
| Operating profit | (17,699) | (195,191) |
| Interest (expense) income, net | (1,353) | (1,645) |
| Earnings (loss) before taxes from Disc Ops | (19,052) | (196,836) |
| Income tax expense (benefit) | 2,624 | (4,550) |
| Net earnings (loss) from Disc Ops | (21,676) | (192,286) |
| Less: Net earnings (loss) attributable to NCI from Disc Ops | 294 | 377 |
| Net earnings (loss) attributable to Fluor from Disc Ops | (21,970) | (192,663) |
| Discontinued Operations | AMECO | ||
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
| Revenue | 40,716 | 61,387 |
| Cost of revenue | 43,970 | 49,094 |
| Gross profit | (3,254) | 12,293 |
| Corporate G&A | 0 | (14) |
| Impairment expense | 0 | (100,000) |
| Foreign currency gain (loss) | 832 | (72) |
| Operating profit | (2,422) | (87,793) |
| Interest (expense) income, net | 104 | 50 |
| Earnings (loss) before taxes from Disc Ops | (2,318) | (87,743) |
| Income tax expense (benefit) | 715 | 1,458 |
| Net earnings (loss) from Disc Ops | (3,033) | (89,201) |
| Less: Net earnings (loss) attributable to NCI from Disc Ops | (1) | 0 |
| Net earnings (loss) attributable to Fluor from Disc Ops | (3,032) | (89,201) |
| Discontinued Operations | Other | ||
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
| Revenue | 0 | 0 |
| Cost of revenue | 1,050 | 5,696 |
| Gross profit | (1,050) | (5,696) |
| Corporate G&A | 0 | (7) |
| Impairment expense | 0 | 0 |
| Foreign currency gain (loss) | 0 | 0 |
| Operating profit | (1,050) | (5,703) |
| Interest (expense) income, net | 0 | 0 |
| Earnings (loss) before taxes from Disc Ops | (1,050) | (5,703) |
| Income tax expense (benefit) | 0 | 0 |
| Net earnings (loss) from Disc Ops | (1,050) | (5,703) |
| Less: Net earnings (loss) attributable to NCI from Disc Ops | 0 | 0 |
| Net earnings (loss) attributable to Fluor from Disc Ops | $ (1,050) | $ (5,703) |
Discontinued Operations - Asset
| Discontinued Operations - Assets and Liabilities Held for Sale (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
| Contract assets | $ 1,007,283 | $ 859,675 |
| Short-term borrowings | 4,704 | 4,890 |
| Other accrued liabilities | 296,357 | 376,451 |
| Discontinued Operations | ||
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
| Accounts and notes receivable, net | 261,276 | 298,377 |
| Contract assets | 130,128 | 110,340 |
| Other current assets | 95,011 | 119,002 |
| Current assets held for sale | 486,415 | 527,719 |
| Property, plant and equipment, net | 172,876 | 164,638 |
| Goodwill | 121,374 | 141,889 |
| Investments | 4,240 | 4,649 |
| Other assets | 143,818 | 149,231 |
| Noncurrent assets held for sale | 442,308 | 460,407 |
| Total assets held for sale | 928,723 | 988,126 |
| Accounts payable | 133,000 | 133,981 |
| Short-term borrowings | 22,115 | 20,525 |
| Contract liabilities | 42,036 | 47,779 |
| Accrued salaries, wages and benefits | 69,938 | 64,778 |
| Other accrued liabilities | 125,485 | 125,942 |
| Current liabilities held for sale | 392,574 | 393,005 |
| Noncurrent liabilities held for sale | 102,950 | 108,418 |
| Total liabilities held for sale | 495,524 | 501,423 |
| Discontinued Operations | Stork | ||
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
| Accounts and notes receivable, net | 208,151 | 245,105 |
| Contract assets | 128,215 | 108,152 |
| Other current assets | 43,483 | 45,384 |
| Current assets held for sale | 379,849 | 398,641 |
| Property, plant and equipment, net | 90,686 | 97,258 |
| Goodwill | 121,374 | 141,889 |
| Investments | 4,240 | 4,649 |
| Other assets | 123,384 | 135,421 |
| Noncurrent assets held for sale | 339,684 | 379,217 |
| Total assets held for sale | 719,533 | 777,858 |
| Accounts payable | 119,177 | 116,580 |
| Short-term borrowings | 22,115 | 20,525 |
| Contract liabilities | 41,252 | 46,997 |
| Accrued salaries, wages and benefits | 63,396 | 57,626 |
| Other accrued liabilities | 111,358 | 113,965 |
| Current liabilities held for sale | 357,298 | 355,693 |
| Noncurrent liabilities held for sale | 89,913 | 98,940 |
| Total liabilities held for sale | 447,211 | 454,633 |
| Discontinued Operations | AMECO | ||
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
| Accounts and notes receivable, net | 42,649 | 42,797 |
| Contract assets | 1,913 | 2,188 |
| Other current assets | 51,528 | 73,618 |
| Current assets held for sale | 96,090 | 118,603 |
| Property, plant and equipment, net | 82,190 | 67,380 |
| Goodwill | 0 | 0 |
| Investments | 0 | 0 |
| Other assets | 20,434 | 13,810 |
| Noncurrent assets held for sale | 102,624 | 81,190 |
| Total assets held for sale | 198,714 | 199,793 |
| Accounts payable | 13,823 | 17,388 |
| Short-term borrowings | 0 | 0 |
| Contract liabilities | 784 | 782 |
| Accrued salaries, wages and benefits | 6,542 | 7,152 |
| Other accrued liabilities | 14,127 | 11,977 |
| Current liabilities held for sale | 35,276 | 37,299 |
| Noncurrent liabilities held for sale | 13,037 | 9,478 |
| Total liabilities held for sale | 48,313 | 46,777 |
| Discontinued Operations | Other | ||
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
| Accounts and notes receivable, net | 10,476 | 10,475 |
| Contract assets | 0 | 0 |
| Other current assets | 0 | 0 |
| Current assets held for sale | 10,476 | 10,475 |
| Property, plant and equipment, net | 0 | 0 |
| Goodwill | 0 | 0 |
| Investments | 0 | 0 |
| Other assets | 0 | 0 |
| Noncurrent assets held for sale | 0 | 0 |
| Total assets held for sale | 10,476 | 10,475 |
| Accounts payable | 0 | 13 |
| Short-term borrowings | 0 | 0 |
| Contract liabilities | 0 | 0 |
| Accrued salaries, wages and benefits | 0 | 0 |
| Other accrued liabilities | 0 | 0 |
| Current liabilities held for sale | 0 | 13 |
| Noncurrent liabilities held for sale | 0 | 0 |
| Total liabilities held for sale | 0 | 13 |
| Continuing Operations | ||
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
| Accounts and notes receivable, net | 0 | 0 |
| Contract assets | 0 | 0 |
| Other current assets | 0 | 0 |
| Current assets held for sale | 0 | 0 |
| Property, plant and equipment, net | 24,508 | 24,538 |
| Goodwill | 0 | 0 |
| Investments | 4,861 | 5,064 |
| Other assets | 0 | 0 |
| Noncurrent assets held for sale | 29,369 | 29,602 |
| Total assets held for sale | 29,369 | 29,602 |
| Accounts payable | 0 | 0 |
| Short-term borrowings | 0 | 0 |
| Contract liabilities | 0 | 0 |
| Accrued salaries, wages and benefits | 0 | 0 |
| Other accrued liabilities | 0 | 0 |
| Current liabilities held for sale | 0 | 0 |
| Noncurrent liabilities held for sale | 0 | 0 |
| Total liabilities held for sale | 0 | 0 |
| Total | ||
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
| Accounts and notes receivable, net | 261,276 | 298,377 |
| Contract assets | 130,128 | 110,340 |
| Other current assets | 95,011 | 119,002 |
| Current assets held for sale | 486,415 | 527,719 |
| Property, plant and equipment, net | 197,384 | 189,176 |
| Goodwill | 121,374 | 141,889 |
| Investments | 9,101 | 9,713 |
| Other assets | 143,818 | 149,231 |
| Noncurrent assets held for sale | 471,677 | 490,009 |
| Total assets held for sale | 958,092 | 1,017,728 |
| Accounts payable | 133,000 | 133,981 |
| Short-term borrowings | 22,115 | 20,525 |
| Contract liabilities | 42,036 | 47,779 |
| Accrued salaries, wages and benefits | 69,938 | 64,778 |
| Other accrued liabilities | 125,485 | 125,942 |
| Current liabilities held for sale | 392,574 | 393,005 |
| Noncurrent liabilities held for sale | 102,950 | 108,418 |
| Total liabilities held for sale | $ 495,524 | $ 501,423 |
Discontinued Operations - Cash
| Discontinued Operations - Cash Flows information Related to Discontinued Operations (Details) - Discontinued Operations - USD ($) $ in Thousands | 3 Months Ended | |
| Mar. 31, 2021 | Mar. 31, 2020 | |
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
| Capital expenditures | $ (14,176) | $ (14,488) |
| Stork | ||
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
| Capital expenditures | (3,344) | (6,415) |
| AMECO | ||
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
| Capital expenditures | $ (10,832) | $ (8,073) |