Fluor (FLR) 10-Q 6 May 22 2022 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2022	Apr. 29, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
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		142,008,804
Entity Central Index Key	0001124198
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS - Unaudited - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Statement [Abstract]
Revenue	$ 3,122	$ 3,347
Cost of revenue	(2,999)	(3,254)
Gross profit	123	93
G&A	(71)	(67)
Impairment	63	(47)
Foreign currency gain (loss)	(19)	(11)
Operating profit (loss)	96	(32)
Interest expense	(16)	(22)
Interest income	7	4
Earnings (loss) from Cont Ops before taxes	87	(50)
Income tax (expense) benefit	(31)	(3)
Net earnings (loss) from Cont Ops	56	(53)
Less: Net earnings (loss) from Cont Ops attributable to NCI	8	33
Net earnings (loss) from Cont Ops attributable to Fluor	48	(86)
Net earnings (loss) from Disc Ops attributable to Fluor	0	(1)
Net earnings (loss) attributable to Fluor	48	(87)
Less: Dividends on CPS	10	0
Net earnings (loss) available to Fluor common stockholders	$ 38	$ (87)
Basic EPS available to Fluor common stockholders
Earnings (loss) from Cont Ops (in dollars per share)	$ 0.27	$ (0.61)
Earnings (loss) from Disc Ops (in dollars per share)	0	(0.01)
Diluted EPS available to Fluor common stockholders
Earnings (loss) from Cont Ops (in dollars per share)	0.27	(0.61)
Earnings (loss) from Disc Ops (in dollars per share)	$ 0	$ (0.01)

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (LOSS) - Unaudited - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Net earnings (loss) from Cont Ops	$ 56	$ (53)
Net earnings (loss) from Disc Ops	0	(1)
Net earnings (loss)	56	(54)
OCI, net of tax:
Foreign currency translation adjustment	29	3
Ownership share of equity method investees’ OCI	1	(2)
DB plan adjustments	1	2
Unrealized gain (loss) on hedges	(2)	(3)
Total OCI, net of tax	29	0
Comprehensive income (loss)	85	(54)
Less: Comprehensive income (loss) attributable to NCI	8	33
Comprehensive income (loss) attributable to Fluor	$ 77	$ (87)

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEET - Unaudited - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Current assets
Cash and cash equivalents ($509 and $630 related to VIEs)	$ 1,913	$ 2,209
Marketable securities ($166 and $90 related to VIEs)	203	127
Accounts receivable, net ($171 and $173 related to VIEs)	998	1,171
Contract assets	1,011	1,066
Other current assets ($34 and $28 related to VIEs)	432	608
Total current assets	4,557	5,181
Noncurrent assets
PP&E, net ($47 and $46 related to VIEs)	501	456
Investments	543	517
Deferred taxes	55	51
Deferred compensation trusts	267	330
Goodwill	251	249
Other assets ($44 and $45 related to VIEs)	318	305
Total noncurrent assets	1,935	1,908
Total assets	6,492	7,089
Current liabilities
Accounts payable ($266 and $261 related to VIEs)	1,002	1,220
Short-term borrowings	214	18
Contract liabilities ($308 and $351 related to VIEs)	805	945
Accrued salaries, wages and benefits ($21 and $27 related to VIEs)	580	629
Other accrued liabilities ($37 and $33 related to VIEs)	594	802
Total current liabilities	3,195	3,614
Long-term debt	982	1,174
Deferred taxes	70	67
Other noncurrent liabilities ($13 related to VIEs in both periods)	600	667
Contingencies and commitments
Shareholders’ equity
Preferred stock — authorized 20,000,000 shares ($0.01 par value); issued and outstanding —600,000 shares in 2022 and 2021	0	0
Common stock — authorized 375,000,000 shares ($0.01 par value); issued and outstanding — 142,008,804 and 141,434,771 shares in 2022 and 2021, respectively	1	1
Additional paid-in capital	976	967
AOCI	(337)	(366)
Retained earnings	829	791
Total shareholders’ equity	1,469	1,393
NCI	176	174
Total equity	1,645	1,567
Total liabilities and equity	$ 6,492	$ 7,089

CONSOLIDATED BALANCE SHEET - Un

CONSOLIDATED BALANCE SHEET - Unaudited (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
CURRENT ASSETS, VIEs
Cash and cash equivalents	$ 1,913	$ 2,209
Marketable securities, current	203	127
Accounts and Financing Receivable, after Allowance for Credit Loss, Current	998	1,171
Contract with Customer, Asset, after Allowance for Credit Loss, Current	1,011	1,066
Other Assets, Current	432	608
NONCURRENT ASSETS, VIEs
Property, Plant and Equipment, Net	501	456
Other Assets, Noncurrent	318	305
Liabilities, Current [Abstract]
Accounts Payable, Current	1,002	1,220
Contract liabilities	805	945
Employee-related Liabilities, Current	580	629
Other Accrued Liabilities, Current	594	802
Other noncurrent liabilities	$ 600	$ 667
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	600,000	600,000
Preferred Stock, Shares Outstanding	600,000	600,000
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	142,008,804	141,434,771
Common Stock, Shares, Outstanding	142,008,804	141,434,771
Variable Interest Entity, Primary Beneficiary
CURRENT ASSETS, VIEs
Cash and cash equivalents	$ 509	$ 630
Marketable securities, current	166	90
Accounts and Financing Receivable, after Allowance for Credit Loss, Current	171	173
Contract with Customer, Asset, after Allowance for Credit Loss, Current	227	223
Other Assets, Current	34	28
NONCURRENT ASSETS, VIEs
Property, Plant and Equipment, Net	47	46
Other Assets, Noncurrent	44	45
Liabilities, Current [Abstract]
Accounts Payable, Current	266	261
Contract liabilities	308	351
Employee-related Liabilities, Current	21	27
Other Accrued Liabilities, Current	37	33
Other noncurrent liabilities	$ 13	$ 13

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - Unaudited - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
OPERATING CASH FLOW
Net earnings (loss)	$ 56	$ (54)
Adjustments to reconcile net earnings (loss) to operating cash flow:
Impairment	(63)	47
Depreciation and amortization	15	24
(Earnings) loss from equity method investments, net of distributions	(3)	1
(Gain) loss on sales of assets	0	2
Stock-based compensation	13	10
Deferred taxes	1	(5)
Net contributions to employee pension plans	0	(9)
Changes in assets and liabilities	(203)	(230)
Other	(4)	(16)
Operating cash flow	(188)	(230)
INVESTING CASH FLOW
Purchases of marketable securities	(158)	(6)
Proceeds from the sales and maturities of marketable securities	82	11
Capital expenditures	(10)	(30)
Proceeds from sales of assets	3	8
Investments in partnerships and joint ventures	(24)	(48)
Other	2	0
Investing cash flow	(105)	(65)
FINANCING CASH FLOW
Dividends paid on CPS	(10)	0
Other borrowings (debt repayments)	7	3
Distributions paid to NCI	(7)	(8)
Capital contributions by NCI	0	42
Taxes paid on vested restricted stock	(5)	(4)
Other	(1)	(5)
Financing cash flow	(16)	28
Effect of exchange rate changes on cash	13	6
Increase (decrease) in cash and cash equivalents	(296)	(261)
Cash and cash equivalents at beginning of period	2,209	2,199
Cash and cash equivalents at end of period	1,913	1,938
Cash paid for interest	20	30
Cash paid for income taxes (net of refunds)	$ 14	$ 32

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY - Unaudited - USD ($) shares in Millions, $ in Millions	Total	Preferred Stock	Common Stock	Additional Paid-In Capital	AOCI	Retained Earnings	Total Shareholders' Equity	NCI
BALANCE, beginning of year (in shares) at Dec. 31, 2020		0	141
Balance, beginning of year at Dec. 31, 2020	$ 1,263	$ 0	$ 1	$ 196	$ (417)	$ 1,250	$ 1,030	$ 233
Increase (Decrease) in Shareholders' Equity
Net earnings (loss)	(54)					(87)	(87)	33
OCI	0				0			0
Distributions to NCI	(8)							(8)
Capital contributions by NCI	42							42
Other NCI transactions	(5)			34			34	(39)
Stock-based compensation	7			7			7
BALANCE, end of year (in shares) at Mar. 31, 2021		0	141
Balance, end of year at Mar. 31, 2021	1,245	$ 0	$ 1	237	(417)	1,163	984	261
BALANCE, beginning of year (in shares) at Dec. 31, 2021		1	141
Balance, beginning of year at Dec. 31, 2021	1,567	$ 0	$ 1	967	(366)	791	1,393	174
Increase (Decrease) in Shareholders' Equity
Net earnings (loss)	56					48	48	8
OCI	29				29		29	0
Distributions to NCI	(7)							(7)
Other NCI transactions	2			1			1	1
Stock-based compensation (in shares)			1
Stock-based compensation	(2)			8		(10)	(2)
BALANCE, end of year (in shares) at Mar. 31, 2022		1	142
Balance, end of year at Mar. 31, 2022	$ 1,645	$ 0	$ 1	$ 976	$ (337)	$ 829	$ 1,469	$ 176

Principles of Consolidation

Principles of Consolidation	3 Months Ended
	Mar. 31, 2022
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 presented annually under GAAP, and therefore, should be read in conjunction with our 2021 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. We believe 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 periods presented. All significant intercompany transactions of consolidated subsidiaries are eliminated. 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, 2022 through the filing date of this Q1 2022 10-Q. Quarters are typically 13 weeks in length but, due to our December 31 year-end, 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 13-week interim reporting periods. For clarity of presentation, all periods are labeled as if the periods ended on March 31, June 30 and September 30. In the first quarter of 2022, we determined that our Stork business and remaining AMECO equipment business no longer met all of the requirements to be classified as Disc Ops as a result of uncertainties related to the timing of the planned sale. Therefore, both Stork and the remaining AMECO business are reported as Cont Ops for all periods presented and included in our Other segment. Further, we have remeasured the carrying value of these businesses under the held and used criteria and reversed $63 million of previously recorded impairment expense.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	3 Months Ended
	Mar. 31, 2022
Accounting Standards Update and Change in Accounting Principle [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements We did not implement any new accounting pronouncements during the 2022 Quarter. However, we are currently evaluating the impact of the future disclosures that may arise under recent SEC proposals

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Potentially dilutive securities include CPS, stock options, RSUs and performance-based award units. Diluted EPS reflects the assumed exercise or conversion of all dilutive securities using the if-converted and treasury stock methods. In computing diluted EPS, only securities that are actually dilutive are included. 3ME (in millions, except per share amounts) 2022 2021 Net earnings (loss) from Cont Ops attributable to Fluor $ 48 $ (86) Less: Dividends on CPS 10 — Net earnings (loss) from Cont Ops available to Fluor common stockholders 38 (86) Net earnings (loss) from Disc Ops attributable to Fluor — (1) Net earnings (loss) available to Fluor common stockholders $ 38 $ (87) Weighted average common shares outstanding 142 141 Dilutive effect: CPS — — Stock options, RSUs and performance-based award units — — Weighted average diluted shares outstanding 142 141 Basic EPS available to Fluor common stockholders: Net earnings (loss) from Cont Ops $ 0.27 $ (0.61) Net earnings (loss) from Disc Ops — (0.01) Diluted EPS available to Fluor common stockholders: Net earnings (loss) from Cont Ops $ 0.27 $ (0.61) Net earnings (loss) from Disc Ops — (0.01) Anti-dilutive securities not included in shares outstanding: CPS 27 N/A Stock options, RSUs and performance-based award units 2 2

Operating Information by Segmen

Operating Information by Segment and Geographic Area	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Operating Information by Segment and Geographic Area	Operating Information by Segment and Geographic Area 3ME (in millions) 2022 2021 Revenue Energy Solutions $ 1,174 $ 991 Urban Solutions 959 1,194 Mission Solutions 593 753 Other 396 409 Total revenue $ 3,122 $ 3,347 Segment profit (loss) Energy Solutions $ 54 $ 2 Urban Solutions 15 30 Mission Solutions 58 44 Other (12) (16) Total segment profit (loss) $ 115 $ 60 Corporate G&A (71) (67) Impairment 63 (47) Foreign currency gain (loss) (19) (11) Interest income (expense), net (9) (18) Earnings (loss) from Cont Ops attributable to NCI 8 33 Earnings (loss) from Cont Ops before taxes $ 87 $ (50) Energy Solutions. Segment profit in the 2022 Quarter and 2021 Quarter included an expense of $13 million and $29 million, respectively, related to an embedded foreign currency derivative. Urban Solutions. Intercompany revenue for our professional staffing business, excluded from the amounts shown above, was $60 million and $69 million for the 2022 Quarter and 2021 Quarter, respectively. Other . Segment profit (loss) for NuScale, Stork and AMECO follows: 3ME (in millions) 2022 2021 NuScale $ (21) $ (16) Stork 6 3 AMECO 3 (3) Segment profit (loss) $ (12) $ (16) Total assets by segment are as follows: (in millions) March 31, December 31, Energy Solutions $ 919 $ 1,158 Urban Solutions 950 906 Mission Solutions 612 764 Other 707 667 Corporate 3,304 3,594 Total assets $ 6,492 $ 7,089 Revenue by project location follows: 3ME (in millions) 2022 2021 North America $ 1,908 $ 2,068 Asia Pacific (including Australia) 249 353 Europe 549 437 Central and South America 351 375 Middle East and Africa 65 114 Total revenue $ 3,122 $ 3,347

Impairment

Impairment	3 Months Ended
	Mar. 31, 2022
Restructuring and Related Activities [Abstract]
Impairment	Impairment Impairment, included in Cont Ops, is summarized as follows: 3ME (in millions) 2022 2021 Impairment: Energy Solutions' equity method investment $ — $ 26 Goodwill — 13 Fair value adjustment of Stork and AMECO assets (63) 8 Total impairment $ (63) $ 47

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The effective tax rate on earnings (loss) from Cont Ops for the 2022 Quarter was 35.4% compared to (6.5)% for the 2021 Quarter. A reconciliation of U.S. statutory federal income tax expense (benefit) to income tax expense follows: (In millions) 3ME MARCH 31 2022 2021 U.S statutory federal income tax expense (benefit) $ 18 $ (10) Increase (decrease) in taxes resulting from: State and local income taxes 1 — Valuation allowance, net 16 10 Foreign tax impact 2 2 Noncontrolling interest (2) (6) Other (4) 7 Total income tax expense (benefit) $ 31 $ 3

Partnerships and Joint Ventures

Partnerships and Joint Ventures	3 Months Ended
	Mar. 31, 2022
Equity Method Investments and Joint Ventures [Abstract]
Partnerships and Joint Ventures	Partnerships and Joint Ventures Investments in a loss position of $243 million and $240 million were included in other accrued liabilities as of March 31, 2022 and December 31, 2021, respectively, and consisted primarily of provision for anticipated losses on a legacy infrastructure project. Accounts receivable related to work performed for unconsolidated partnerships and joint ventures included in “Accounts receivable, net” was $208 million and $205 million as of March 31, 2022 and December 31, 2021, respectively. Variable Interest Entities The aggregate carrying value of unconsolidated VIEs (classified under both "Investments” and “Other accrued liabilities”) was a net asset of $42 million and $33 million as of March 31, 2022 and December 31, 2021, 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, 2022 for the unconsolidated VIEs were $57 million. In some cases, we are required to consolidate certain VIEs. Assets and liabilities associated with the operations of our consolidated VIEs are presented on the balance sheet. 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, 2022
Guarantees [Abstract]
Guarantees	GuaranteesThe 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 $14 billion as of March 31, 2022. 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, 2022 and December 31, 2021.

Contingencies and Commitments

Contingencies and Commitments	3 Months Ended
	Mar. 31, 2022
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. The following disclosures for commitments and contingencies have been updated since the matter was presented in the 2021 10-K. 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 contracts, which plaintiffs assert were materially misleading. In May 2020, these complaints were consolidated into one matter. We filed a motion to dismiss the matter in July 2020. The motion was granted in part on May 5, 2021, and as a result the Court dismissed with prejudice all allegations except those related to a single statement made in 2015 about one gas-fired power contract. During 2021, we recorded a liability for the estimated resolution of the matter and we also recognized the effects of expected insurance coverage. In the first quarter 2022, we reached a proposed settlement with the plaintiffs that is subject to and is pending Court approval. No additional liability or insurance recovery has been recognized in 2022. There have been no substantive changes to the disclosures for the following commitments and contingencies since the matter was presented in the 2021 10-K. Since September 2018, eleven 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 these matters, 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 $574 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. Barrick and Fluor/TECHINT have exchanged detailed statements of claim and counterclaim pursuant to which Barrick's claim against Fluor/TECHINT now totals approximately $364 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, 2022 and December 31, 2021, we had recorded $215 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, 2022 and December 31, 2021. 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 financial position or results of operations. In February 2020, we announced that the SEC is conducting an investigation and has requested documents and information related to projects for which we recorded charges in the second quarter of 2019. In April 2020 and January 2022, Fluor received subpoenas from the U.S. Department of Justice (“DOJ”) seeking documents and information related to the second quarter 2019 charges; certain of the projects associated with those charges; and certain project accounting, financial reporting and governance matters. Such inquiries are ongoing, and we have continued to respond to the SEC and DOJ and cooperate in these investigations.

Contract Assets and Liabilities

Contract Assets and Liabilities	3 Months Ended
	Mar. 31, 2022
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 $ 775 $ 822 Contract work in progress - lump-sum contracts 236 244 Contract assets $ 1,011 $ 1,066 Advance billings deducted from contract assets $ 223 $ 208 3ME (in millions) 2022 2021 Information about contract liabilities: Revenue recognized that was included in contract liabilities as of January 1 $ 531 $ 540 We estimate that our RUPO will be satisfied over the following periods: (in millions) March 31, 2022 Within 1 year $ 10,166 1 to 2 years 5,079 Thereafter 2,572 Total RUPO $ 17,817

Remaining Unsatisfied Performan

Remaining Unsatisfied Performance Obligations	3 Months Ended
	Mar. 31, 2022
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 $ 775 $ 822 Contract work in progress - lump-sum contracts 236 244 Contract assets $ 1,011 $ 1,066 Advance billings deducted from contract assets $ 223 $ 208 3ME (in millions) 2022 2021 Information about contract liabilities: Revenue recognized that was included in contract liabilities as of January 1 $ 531 $ 540 We estimate that our RUPO will be satisfied over the following periods: (in millions) March 31, 2022 Within 1 year $ 10,166 1 to 2 years 5,079 Thereafter 2,572 Total RUPO $ 17,817

Debt and Lines of Credit

Debt and Lines of Credit	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Debt and Lines of Credit	Debt and Lines of Credit Debt consisted of the following: (in millions) March 31, 2022 December 31, 2021 Borrowings under credit facility $ — $ — Current: 2023 Notes $ 187 $ — Other borrowings 27 18 Total current $ 214 $ 18 Long-term: Senior Notes 2023 Notes $ — $ 193 2024 Notes 381 381 Unamortized discount on 2024 Notes (1) (1) Unamortized deferred financing costs (1) (1) 2028 Notes 600 600 Unamortized discount on 2028 Notes (1) (1) Unamortized deferred financing costs (3) (3) Other long-term borrowings 7 6 Total long-term $ 982 $ 1,174 Credit Facility As of March 31, 2022, letters of credit totaling $393 million were outstanding under our $1.8 billion credit facility, which matures in February 2025. The credit facility contains customary financial covenants, including a debt-to-capitalization ratio that cannot exceed 0.60 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 $1.25 billion, defined in the amended credit facility, which may be reduced to $1.00 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, 2022, our credit agreement limited our borrowings under the facility to $806 million. Uncommitted Lines of Credit As of March 31, 2022, letters of credit totaling $863 million were outstanding under uncommitted lines of credit.

Convertible Preferred Stock

Convertible Preferred Stock	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Convertible Preferred Stock	Convertible Preferred Stock Cumulative cash dividends on the preferred stock are payable at an annual rate of 6.5% quarterly in arrears on February 15, May 15, August 15 and November 15, upon declaration of the dividend by our Board of Directors. Dividends accumulate from the most recent date on which dividends have been paid. First quarter CPS dividends of $10 million were paid in February 2022. In April 2022, our Board of Directors approved the payment of second quarter CPS dividends of $10 million, payable in May 2022. Each share of CPS is convertible at the holder's option at any time into 44.9585 shares of our common stock per share of preferred stock. The conversion rate is subject to certain customary adjustments, but no payment or adjustment for accumulated but unpaid dividends will be made upon conversion, subject to certain limited exceptions. The preferred stock may not be redeemed by us; however, we may, at any time on or after May 20, 2022, elect to cause all outstanding shares of preferred stock to be converted into shares of our common stock at the conversion rate, subject to certain conditions (and, if such conversion occurs prior to May 20, 2024, the payment of a cash make-whole premium). The most significant condition to our ability to force a conversion prior to May 2024 is the requirement that our common stock trade above $28.92 for 20 consecutive trading days. We estimate that the cash make-whole payment would be $101 million on May 20, 2022 and would be $72 million at December 31, 2022 (assuming we minimally exceed the minimum trading price to invoke the conversion). If a make-whole fundamental change, as defined in the certificate of designations for the preferred stock, occurs, we will in certain circumstances be required to increase the conversion rate for a holder who elects to convert shares of preferred stock in connection with such make-whole fundamental change.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2022
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, 2022 December 31, 2021 Fair Value Hierarchy Fair Value Hierarchy (in millions) Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Assets: Deferred compensation trusts (1) $ 11 $ 11 $ — $ — $ 12 $ 12 $ — $ — Derivative assets (2) Foreign currency 14 — 14 — 15 — 15 — Commodity 12 — 12 — 5 — 5 — Liabilities: Derivative liabilities (2) Foreign currency $ 9 $ — $ 9 $ — $ 7 $ — $ 7 $ — _________________________________________________________ (1) Consists of registered money market funds and an equity index fund. These investments, which are trading securities, represent the net asset value at the close of business 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 financial instruments that are not required to be measured at fair value: March 31, 2022 December 31, 2021 (in millions) Fair Value Carrying Fair Carrying Fair Assets: Cash (1) Level 1 $ 1,194 $ 1,194 $ 1,295 $ 1,295 Cash equivalents (2) Level 2 719 719 914 914 Marketable securities (2) Level 2 203 203 127 127 Notes receivable, including noncurrent portion (3) Level 3 11 11 11 11 Liabilities: 2023 Senior Notes (4) Level 2 $ 187 $ 189 $ 193 $ 196 2024 Senior Notes (4) Level 2 379 381 379 399 2028 Senior Notes (4) Level 2 596 592 596 630 Other borrowings, including noncurrent portion (5) Level 2 34 34 24 24 _________________________________________________________ (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, 2022
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 2021 10-K. In the 2022 and 2021 Quarters, RSUs totaling 367,380 and 545,527, respectively, were granted to executives at a weighted-average grant date fair value of $21.90 and $18.13 per share, respectively, and generally vest over three years. Stock options for the purchase of 250,656 and 481,626 shares at a weighted-average exercise price of $21.90 and $17.96 per share were awarded to executives during the 2022 and 2021 Quarters, respectively. The options granted in 2022 and 2021 generally vest over three years and expire ten years after the grant date. Performance-based award units totaling 426,957 and 613,868 were awarded to Section 16 officers during the 2022 and 2021 Quarters, respectively. These awards generally cliff vest after 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 2022, the following units were granted based upon the establishment of performance targets: Performance-based Award Units Granted in 2022 Weighted Average 2022 Performance Award Plan 142,319 $24.07 2021 Performance Award Plan 204,623 $24.48 2020 Performance Award Plan 385,455 $22.04 For awards granted under the 2022, 2021 and 2020 performance award plans, 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. SGI awards granted to executives vest and become payable at a rate of one-third of the total award each year. Compensation expense of $10 million and $32 million related to SGI awards was included in G&A in the 2022 and 2021 quarters, respectively. Liabilities associated with SGI awards were $57 million and $73 million as of March 31, 2022 and December 31, 2021, respectively.

Other Comprehensive Income (Los

Other Comprehensive Income (Loss)	3 Months Ended
	Mar. 31, 2022
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Other Comprehensive Income (Loss)	Other Comprehensive Income (Loss) The components of OCI follow: 3ME 3ME (in millions) Before-Tax Tax Net-of-Tax Before-Tax Tax Net-of-Tax OCI: Foreign currency translation adjustments $ 29 $ — $ 29 $ 3 $ — $ 3 Ownership share of equity method investees’ OCI — 1 1 (2) — (2) DB plan adjustments 1 — 1 1 1 2 Unrealized gain (loss) on hedges (2) — (2) (3) — (3) Total OCI 28 1 29 (1) 1 — Less: OCI attributable to NCI — — — — — — OCI attributable to Fluor $ 28 $ 1 $ 29 $ (1) $ 1 $ — The changes in AOCI balances follow: (in millions) Foreign Ownership DB Plans Unrealized AOCI, Net Attributable to Fluor: Balance as of December 31, 2021 $ (299) $ (56) $ (18) $ 7 $ (366) OCI before reclassifications 29 1 1 2 33 Amounts reclassified from AOCI — — — (4) (4) Net OCI 29 1 1 (2) 29 Balance as of March 31, 2022 $ (270) $ (55) $ (17) $ 5 $ (337) Attributable to NCI: Balance as of December 31, 2021 $ (3) $ — $ — $ — $ (3) OCI before reclassifications — — — — — Amounts reclassified from AOCI — — — — — Net OCI — — — — — Balance as of March 31, 2022 $ (3) $ — $ — $ — $ (3) Attributable to Fluor: Balance as of December 31, 2020 $ (261) $ (54) $ (119) $ 17 $ (417) OCI before reclassifications 3 (2) — 1 2 Amounts reclassified from AOCI — — 2 (4) (2) Net OCI 3 (2) 2 (3) — Balance as of March 31, 2021 $ (258) $ (56) $ (117) $ 14 $ (417) Attributable to NCI: Balance as of December 31, 2020 $ (4) $ — $ — $ — $ (4) OCI before reclassifications — — — — — Amounts reclassified from AOCI — — — — — Net OCI — — — — — Balance as of March 31, 2021 $ (4) $ — $ — $ — $ (4) The reclassifications out of AOCI follow: Location in Statement of Operations 3ME (in thousands) 2022 2021 Component of AOCI: DB plan adjustments Corporate G&A $ — $ (2) Income tax expense Income tax expense (benefit) — — Net of tax $ — $ (2) Unrealized gain (loss) on derivative contracts: Commodity and foreign currency contracts Various accounts (1) $ 5 $ 5 Income tax expense Income tax expense (benefit) (1) (1) Net of tax $ 4 $ 4 (1) Gains and losses on commodity and foreign currency derivative contracts were reclassified to "Cost of revenue" and "G&A".

Discontinued Operations

Discontinued Operations	3 Months Ended
	Mar. 31, 2022
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	Discontinued Operations In May 2021, we sold the North American operations of the AMECO equipment business for $71 million and recognized a loss on the sale of $27 million. The results for the sold operations are reported in Disc Ops in the 2021 Quarter. Disc Ops information follows: 3ME (in millions) AMECO Revenue $ 16 Cost of revenue (17) Gross Profit (1) Corporate G&A — Impairment expense — Foreign currency gain (loss) — Operating profit (1) Interest (expense) income, net — Earnings (loss) before taxes from Disc Ops (1) Income tax (expense) benefit — Net earnings (loss) from Disc Ops (1) Less: Net earnings (loss) from Disc Ops attributable to NCI — Net earnings (loss) from Disc Ops attributable to Fluor $ (1) Our cash flow information for the 2021 Quarter included the following activities related to Disc Ops: 3ME (in millions) AMECO Capital expenditures (11) In our 2021 10-K, we reported additional AMECO operations and Stork operations in Disc Ops. These operations are still being marketed but no longer qualify for all Disc Ops criteria. They are now reported in Cont Ops, until such time that they re-qualify for Disc Ops.

Recent Accounting Pronounceme_2

Recent Accounting Pronouncements - (Policies)	3 Months Ended
	Mar. 31, 2022
Accounting Standards Update and Change in Accounting Principle [Abstract]
Recent Accounting Pronouncements	We did not implement any new accounting pronouncements during the 2022 Quarter. However, we are currently evaluating the impact of the future disclosures that may arise under recent SEC proposals.

Earnings Per Share - (Tables)

Earnings Per Share - (Tables)	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Schedule of calculations of basic and diluted EPS	3ME (in millions, except per share amounts) 2022 2021 Net earnings (loss) from Cont Ops attributable to Fluor $ 48 $ (86) Less: Dividends on CPS 10 — Net earnings (loss) from Cont Ops available to Fluor common stockholders 38 (86) Net earnings (loss) from Disc Ops attributable to Fluor — (1) Net earnings (loss) available to Fluor common stockholders $ 38 $ (87) Weighted average common shares outstanding 142 141 Dilutive effect: CPS — — Stock options, RSUs and performance-based award units — — Weighted average diluted shares outstanding 142 141 Basic EPS available to Fluor common stockholders: Net earnings (loss) from Cont Ops $ 0.27 $ (0.61) Net earnings (loss) from Disc Ops — (0.01) Diluted EPS available to Fluor common stockholders: Net earnings (loss) from Cont Ops $ 0.27 $ (0.61) Net earnings (loss) from Disc Ops — (0.01) Anti-dilutive securities not included in shares outstanding: CPS 27 N/A Stock options, RSUs and performance-based award units 2 2

Operating Information by Segm_2

Operating Information by Segment and Geographic Area - (Tables)	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Schedule of operating information and assets by reportable segment	3ME (in millions) 2022 2021 Revenue Energy Solutions $ 1,174 $ 991 Urban Solutions 959 1,194 Mission Solutions 593 753 Other 396 409 Total revenue $ 3,122 $ 3,347 Segment profit (loss) Energy Solutions $ 54 $ 2 Urban Solutions 15 30 Mission Solutions 58 44 Other (12) (16) Total segment profit (loss) $ 115 $ 60 Corporate G&A (71) (67) Impairment 63 (47) Foreign currency gain (loss) (19) (11) Interest income (expense), net (9) (18) Earnings (loss) from Cont Ops attributable to NCI 8 33 Earnings (loss) from Cont Ops before taxes $ 87 $ (50) Other . Segment profit (loss) for NuScale, Stork and AMECO follows: 3ME (in millions) 2022 2021 NuScale $ (21) $ (16) Stork 6 3 AMECO 3 (3) Segment profit (loss) $ (12) $ (16) Total assets by segment are as follows: (in millions) March 31, December 31, Energy Solutions $ 919 $ 1,158 Urban Solutions 950 906 Mission Solutions 612 764 Other 707 667 Corporate 3,304 3,594 Total assets $ 6,492 $ 7,089
Schedule of Revenues from External Customers and Assets by Geographical Areas	Revenue by project location follows: 3ME (in millions) 2022 2021 North America $ 1,908 $ 2,068 Asia Pacific (including Australia) 249 353 Europe 549 437 Central and South America 351 375 Middle East and Africa 65 114 Total revenue $ 3,122 $ 3,347

Impairment - (Tables)

Impairment - (Tables)	3 Months Ended
	Mar. 31, 2022
Restructuring and Related Activities [Abstract]
Schedule of impairment expense	Impairment, included in Cont Ops, is summarized as follows: 3ME (in millions) 2022 2021 Impairment: Energy Solutions' equity method investment $ — $ 26 Goodwill — 13 Fair value adjustment of Stork and AMECO assets (63) 8 Total impairment $ (63) $ 47

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Schedule of Effective Income Tax Rate Reconciliation	A reconciliation of U.S. statutory federal income tax expense (benefit) to income tax expense follows: (In millions) 3ME MARCH 31 2022 2021 U.S statutory federal income tax expense (benefit) $ 18 $ (10) Increase (decrease) in taxes resulting from: State and local income taxes 1 — Valuation allowance, net 16 10 Foreign tax impact 2 2 Noncontrolling interest (2) (6) Other (4) 7 Total income tax expense (benefit) $ 31 $ 3

Contract Assets and Liabiliti_2

Contract Assets and Liabilities (Tables)	3 Months Ended
	Mar. 31, 2022
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 $ 775 $ 822 Contract work in progress - lump-sum contracts 236 244 Contract assets $ 1,011 $ 1,066 Advance billings deducted from contract assets $ 223 $ 208 3ME (in millions) 2022 2021 Information about contract liabilities: Revenue recognized that was included in contract liabilities as of January 1 $ 531 $ 540

Remaining Unsatisfied Perform_2

Remaining Unsatisfied Performance Obligations - (Tables)	3 Months Ended
	Mar. 31, 2022
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, 2022 Within 1 year $ 10,166 1 to 2 years 5,079 Thereafter 2,572 Total RUPO $ 17,817

Debt and Lines of Credit (Table

Debt and Lines of Credit (Tables)	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Schedule of Debt	Debt consisted of the following: (in millions) March 31, 2022 December 31, 2021 Borrowings under credit facility $ — $ — Current: 2023 Notes $ 187 $ — Other borrowings 27 18 Total current $ 214 $ 18 Long-term: Senior Notes 2023 Notes $ — $ 193 2024 Notes 381 381 Unamortized discount on 2024 Notes (1) (1) Unamortized deferred financing costs (1) (1) 2028 Notes 600 600 Unamortized discount on 2028 Notes (1) (1) Unamortized deferred financing costs (3) (3) Other long-term borrowings 7 6 Total long-term $ 982 $ 1,174

Fair Value Measurements - (Tabl

Fair Value Measurements - (Tables)	3 Months Ended
	Mar. 31, 2022
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, 2022 December 31, 2021 Fair Value Hierarchy Fair Value Hierarchy (in millions) Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Assets: Deferred compensation trusts (1) $ 11 $ 11 $ — $ — $ 12 $ 12 $ — $ — Derivative assets (2) Foreign currency 14 — 14 — 15 — 15 — Commodity 12 — 12 — 5 — 5 — Liabilities: Derivative liabilities (2) Foreign currency $ 9 $ — $ 9 $ — $ 7 $ — $ 7 $ — _________________________________________________________ (1) Consists of registered money market funds and an equity index fund. These investments, which are trading securities, represent the net asset value at the close of business 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 financial instruments that are not required to be measured at fair value: March 31, 2022 December 31, 2021 (in millions) Fair Value Carrying Fair Carrying Fair Assets: Cash (1) Level 1 $ 1,194 $ 1,194 $ 1,295 $ 1,295 Cash equivalents (2) Level 2 719 719 914 914 Marketable securities (2) Level 2 203 203 127 127 Notes receivable, including noncurrent portion (3) Level 3 11 11 11 11 Liabilities: 2023 Senior Notes (4) Level 2 $ 187 $ 189 $ 193 $ 196 2024 Senior Notes (4) Level 2 379 381 379 399 2028 Senior Notes (4) Level 2 596 592 596 630 Other borrowings, including noncurrent portion (5) Level 2 34 34 24 24 _________________________________________________________ (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, 2022
Share-based Payment Arrangement [Abstract]
Share-based Payment Arrangement, Activity	During 2022, the following units were granted based upon the establishment of performance targets: Performance-based Award Units Granted in 2022 Weighted Average 2022 Performance Award Plan 142,319 $24.07 2021 Performance Award Plan 204,623 $24.48 2020 Performance Award Plan 385,455 $22.04

Other Comprehensive Income (L_2

Other Comprehensive Income (Loss) - (Tables)	3 Months Ended
	Mar. 31, 2022
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: 3ME 3ME (in millions) Before-Tax Tax Net-of-Tax Before-Tax Tax Net-of-Tax OCI: Foreign currency translation adjustments $ 29 $ — $ 29 $ 3 $ — $ 3 Ownership share of equity method investees’ OCI — 1 1 (2) — (2) DB plan adjustments 1 — 1 1 1 2 Unrealized gain (loss) on hedges (2) — (2) (3) — (3) Total OCI 28 1 29 (1) 1 — Less: OCI attributable to NCI — — — — — — OCI attributable to Fluor $ 28 $ 1 $ 29 $ (1) $ 1 $ —
Schedule of changes in accumulated other comprehensive income balances by component (after-tax)	The changes in AOCI balances follow: (in millions) Foreign Ownership DB Plans Unrealized AOCI, Net Attributable to Fluor: Balance as of December 31, 2021 $ (299) $ (56) $ (18) $ 7 $ (366) OCI before reclassifications 29 1 1 2 33 Amounts reclassified from AOCI — — — (4) (4) Net OCI 29 1 1 (2) 29 Balance as of March 31, 2022 $ (270) $ (55) $ (17) $ 5 $ (337) Attributable to NCI: Balance as of December 31, 2021 $ (3) $ — $ — $ — $ (3) OCI before reclassifications — — — — — Amounts reclassified from AOCI — — — — — Net OCI — — — — — Balance as of March 31, 2022 $ (3) $ — $ — $ — $ (3) Attributable to Fluor: Balance as of December 31, 2020 $ (261) $ (54) $ (119) $ 17 $ (417) OCI before reclassifications 3 (2) — 1 2 Amounts reclassified from AOCI — — 2 (4) (2) Net OCI 3 (2) 2 (3) — Balance as of March 31, 2021 $ (258) $ (56) $ (117) $ 14 $ (417) Attributable to NCI: Balance as of December 31, 2020 $ (4) $ — $ — $ — $ (4) OCI before reclassifications — — — — — Amounts reclassified from AOCI — — — — — Net OCI — — — — — Balance as of March 31, 2021 $ (4) $ — $ — $ — $ (4)
Schedule of significant items reclassified out of AOCI and corresponding location and impact	The reclassifications out of AOCI follow: Location in Statement of Operations 3ME (in thousands) 2022 2021 Component of AOCI: DB plan adjustments Corporate G&A $ — $ (2) Income tax expense Income tax expense (benefit) — — Net of tax $ — $ (2) Unrealized gain (loss) on derivative contracts: Commodity and foreign currency contracts Various accounts (1) $ 5 $ 5 Income tax expense Income tax expense (benefit) (1) (1) Net of tax $ 4 $ 4 (1) Gains and losses on commodity and foreign currency derivative contracts were reclassified to "Cost of revenue" and "G&A".

Discontinued Operations - (Tabl

Discontinued Operations - (Tables)	3 Months Ended
	Mar. 31, 2022
Discontinued Operations and Disposal Groups [Abstract]
Earnings from discontinued operations, net of tax	Disc Ops information follows: 3ME (in millions) AMECO Revenue $ 16 Cost of revenue (17) Gross Profit (1) Corporate G&A — Impairment expense — Foreign currency gain (loss) — Operating profit (1) Interest (expense) income, net — Earnings (loss) before taxes from Disc Ops (1) Income tax (expense) benefit — Net earnings (loss) from Disc Ops (1) Less: Net earnings (loss) from Disc Ops attributable to NCI — Net earnings (loss) from Disc Ops attributable to Fluor $ (1)
Schedule of cash flow, supplemental disclosures	Our cash flow information for the 2021 Quarter included the following activities related to Disc Ops: 3ME (in millions) AMECO Capital expenditures (11)

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Amounts Attributable to Parent, Disclosures [Abstract]
Net earnings (loss) from Cont Ops attributable to Fluor	$ 48	$ (86)
Less: Dividends on CPS	10	0
Net earnings (loss) from Cont Ops available to Fluor common stockholders	38	(86)
Net earnings (loss) from Disc Ops attributable to Fluor	0	(1)
Net earnings (loss) available to Fluor common stockholders	$ 38	$ (87)
Weighted average common shares outstanding (shares)	142	141
Dilutive effect:
CPS (in shares)	0	0
Stock options, RSU's, Restricted stock and performance-based award units (in shares)	0	0
Weighted average diluted shares outstanding (in shares)	142	141
Basic EPS available to Fluor common stockholders:
Net earnings (loss) from Cont Ops (in dollars per share)	$ 0.27	$ (0.61)
Net earnings (loss) from Disc Ops (in dollars per share)	0	(0.01)
Diluted EPS available to Fluor common stockholders:
Net earnings (loss) from Cont Ops (in dollars per share)	0.27	(0.61)
Net earnings (loss) from Disc Ops (in dollars per share)	$ 0	$ (0.01)

Earnings Per Share - Antidiluti

Earnings Per Share - Antidilutive Securities Excluded from Computation of EPS (Details) - shares shares in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
CPS
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities not in shares outstanding (in shares)	27
All Others
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities not in shares outstanding (in shares)	2	2

Operating Information by Segm_3

Operating Information by Segment and Geographic Area - Reportable Segments (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Segment Reporting Information [Line Items]
Revenue	$ 3,122	$ 3,347
Segment profit (loss)	96	(32)
Corporate G&A	(71)	(67)
Impairment	63	(47)
Foreign currency gain (loss)	(19)	(11)
Earnings (loss) from Cont Ops before taxes	87	(50)
Reportable segments | Urban Solutions
Segment Reporting Information [Line Items]
Revenue	60	69
Continuing Operations
Segment Reporting Information [Line Items]
Corporate G&A	(71)	(67)
Impairment	63	(47)
Foreign currency gain (loss)	(19)	(11)
Interest income (expense), net	(9)	(18)
Earnings (loss) from Cont Ops attributable to NCI	8	33
Earnings (loss) from Cont Ops before taxes	87	(50)
Continuing Operations | Reportable segments
Segment Reporting Information [Line Items]
Revenue	3,122	3,347
Segment profit (loss)	115	60
Continuing Operations | Reportable segments | Energy Solutions
Segment Reporting Information [Line Items]
Revenue	1,174	991
Segment profit (loss)	54	2
Continuing Operations | Reportable segments | Urban Solutions
Segment Reporting Information [Line Items]
Revenue	959	1,194
Segment profit (loss)	15	30
Continuing Operations | Reportable segments | Mission Solutions
Segment Reporting Information [Line Items]
Revenue	593	753
Segment profit (loss)	58	44
Continuing Operations | Reportable segments | Other
Segment Reporting Information [Line Items]
Revenue	396	409
Segment profit (loss)	$ (12)	$ (16)

Operating Information by Segm_4

Operating Information by Segment and Geographic Area - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Segment reporting information
Revenue	$ 3,122	$ 3,347
Capital contributions by NCI	0	42
Energy Solutions
Segment reporting information
Expense from embedded foreign currency derivatives	13	29
Urban Solutions | Reportable segments
Segment reporting information
Revenue	$ 60	$ 69

Operating Information by Segm_5

Operating Information by Segment and Geographic Area - Other Segment Profit (Loss) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Segment Reporting Information [Line Items]
Operating profit (loss)	$ 96	$ (32)
Reportable segments | Continuing Operations
Segment Reporting Information [Line Items]
Operating profit (loss)	115	60
Reportable segments | Other | Continuing Operations
Segment Reporting Information [Line Items]
Operating profit (loss)	(12)	(16)
Reportable segments | Other | Continuing Operations | NuScale
Segment Reporting Information [Line Items]
Operating profit (loss)	(21)	(16)
Reportable segments | Other | Continuing Operations | Stork
Segment Reporting Information [Line Items]
Operating profit (loss)	6	3
Reportable segments | Other | Continuing Operations | AMECO
Segment Reporting Information [Line Items]
Operating profit (loss)	$ 3	$ (3)

Operating Information by Segm_6

Operating Information by Segment and Geographic Area - Total Assets (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Segment reporting information
Total assets	$ 6,492	$ 7,089
Reportable segments | Energy Solutions
Segment reporting information
Total assets	919	1,158
Reportable segments | Urban Solutions
Segment reporting information
Total assets	950	906
Reportable segments | Mission Solutions
Segment reporting information
Total assets	612	764
Reportable segments | Other
Segment reporting information
Total assets	707	667
Corporate
Segment reporting information
Total assets	$ 3,304	$ 3,594

Operating Information by Segm_7

Operating Information by Segment and Geographic Area - External Revenue and Total Assets by Geographic Area (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 3,122	$ 3,347
North America
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	1,908	2,068
Asia Pacific (including Australia)
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	249	353
Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	549	437
Central and South America
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	351	375
Middle East and Africa
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 65	$ 114

Impairment - Schedule of Impair

Impairment - Schedule of Impairment (Details) - Energy Solutions - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Restructuring [Line Items]
Energy Solutions' equity method investment	$ 0	$ 26
Goodwill	0	13
Fair value adjustment of Stork and AMECO assets	63	(8)
Total impairment	(63)	$ 47
Stork and AMECO
Restructuring [Line Items]
Fair value adjustment of Stork and AMECO assets	$ 63

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Effective tax rate, continuing operations (as a percent)	35.40%	(6.50%)
U.S statutory federal income tax expense (benefit)	$ 18	$ (10)
Increase (decrease) in taxes resulting from:
State and local income taxes	1	0
Valuation allowance, net	16	10
Foreign tax impact	2	2
Noncontrolling interest	(2)	(6)
Other	(4)	7
Income tax (expense) benefit	$ 31	$ 3

Partnerships and Joint Ventur_2

Partnerships and Joint Ventures - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Accrued Liabilities
Variable interest entity information
Investments in loss position, included in other accrued liabilities	$ 243	$ 240
Variable Interest Entity, Not Primary Beneficiary
Variable interest entity information
Net assets	42	33
Variable Interest Entity, Not Primary Beneficiary | Future funding commitment
Variable interest entity information
Commitment amount	57
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	$ 208	$ 205

Guarantees - Narrative (Details

Guarantees - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Guarantor Obligations [Line Items]
Performance guarantee obligation not material	$ 0	$ 0
Performance Guarantee
Guarantor Obligations [Line Items]
Estimated performance guarantees outstanding	$ 14,000

Contingencies and Commitments -

Contingencies and Commitments - Narrative (Details) $ in Millions	Aug. 23, 2019AUD ($)	Dec. 13, 2016AUD ($)	Mar. 31, 2022USD ($)action	Dec. 31, 2021USD ($)	Aug. 31, 2019USD ($)	Aug. 23, 2019USD ($)	Aug. 12, 2016USD ($)
Loss Contingencies [Line Items]
Number of actions filed | action			11
Contracts receivable			$ 215,000,000	$ 215,000,000
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						$ 574,000,000
Fluor/TECHINT | Pending Litigation
Loss Contingencies [Line Items]
Estimate of possible loss			$ 364,000,000				$ 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 Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Contract assets
Unbilled receivables - reimbursable contracts	$ 775		$ 822
Contract work in progress - lump-sum contracts	236		244
Contract assets	1,011		1,066
Advance billings deducted from contract assets	223		$ 208
Information about contract liabilities:
Revenue recognized that was included in contract liabilities as of January 1	$ 531	$ 540

Remaining Unsatisfied Perform_3

Remaining Unsatisfied Performance Obligations - Schedule of remaining performance obligation (Details) $ in Millions	Mar. 31, 2022USD ($)
Revenue from Contract with Customer [Abstract]
Remaining unsatisfied performance obligation	$ 17,817
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-04-01
Revenue from Contract with Customer [Abstract]
Remaining unsatisfied performance obligation	$ 10,166
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]: 2023-01-01
Revenue from Contract with Customer [Abstract]
Remaining unsatisfied performance obligation	$ 5,079
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]: 2024-01-01
Revenue from Contract with Customer [Abstract]
Remaining unsatisfied performance obligation	$ 2,572
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining unsatisfied performance obligation (in years)

Debt and Lines of Credit - Sche

Debt and Lines of Credit - Schedule of Debt (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Financing Arrangements
Borrowings under credit facility	$ 0	$ 0
Short-term borrowings	214	18
Long-term debt	982	1,174
Other long-term borrowings	7	6
Total long-term	982	1,174
2023 Notes
Financing Arrangements
Short-term borrowings	187	0
Long-term debt	0	193
Other Debt Obligations
Financing Arrangements
Short-term borrowings	27	18
2024 Notes
Financing Arrangements
Long-term debt	381	381
Unamortized discount	(1)	(1)
Unamortized deferred financing costs	(1)	(1)
2028 Notes
Financing Arrangements
Long-term debt	600	600
Unamortized discount	(1)	(1)
Unamortized deferred financing costs	$ (3)	$ (3)

Debt and Lines of Credit - Narr

Debt and Lines of Credit - Narrative (Details) - 3 months ended Mar. 31, 2022 - Lines of credit € in Millions, $ in Millions	USD ($)	EUR (€)
Committed Line of Credit
Financing Arrangements
Amount outstanding under credit facilities	$ 393
Current borrowing capacity	806
Committed Line of Credit | Revolving Loan And Letter Of Credit Facility Agreement
Financing Arrangements
Maximum borrowing capacity	1,800
Committed Line of Credit | Revolving Loan And Letter Of Credit Facility Agreement | Subsidiaries
Financing Arrangements
Covenant minimum liquidity	1,250
Covenant minimum liquidity, after repayments of debt	$ 1,000
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)	60.00%
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	€ 750
Uncommitted Line of Credit
Financing Arrangements
Amount outstanding under credit facilities	$ 863

Convertible Preferred Stock (De

Convertible Preferred Stock (Details) $ / shares in Units, $ in Millions	1 Months Ended		3 Months Ended
	Apr. 30, 2022USD ($)	Feb. 28, 2022USD ($)	Mar. 31, 2022segment$ / shares	Dec. 31, 2022USD ($)	May 20, 2022USD ($)
Class of Stock [Line Items]
Preferred stock dividends paid		$ 10
Preferred stock, convertible, conversion rate (in shares)			44.9585
Subsequent Event
Class of Stock [Line Items]
Preferred stock dividends declared amount	$ 10
Convertible Preferred Stock
Class of Stock [Line Items]
Preferred stock, dividend rate			6.50%
Force conversion required minimum common stock trade price (in dollars per share) | $ / shares			$ 28.92
Preferred stock, conversion feature, threshold consecutive trading days (in days) | segment			20
Convertible Preferred Stock | Forecast
Class of Stock [Line Items]
Preferred stock, liquidation preference, make-whole payment amount					$ 101
Preferred stock, estimated make-whole payment estimate				$ 72

Fair Value Measurements - Recur

Fair Value Measurements - Recurring Basis (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Fair value of assets and liabilities measured on recurring basis
Deferred compensation trusts	$ 11	$ 12
Foreign currency contracts
Fair value of assets and liabilities measured on recurring basis
Derivative assets	14	15
Derivative liabilities	9	7
Commodity
Fair value of assets and liabilities measured on recurring basis
Derivative assets	12	5
Level 1
Fair value of assets and liabilities measured on recurring basis
Deferred compensation trusts	11	12
Level 2 | Foreign currency contracts
Fair value of assets and liabilities measured on recurring basis
Derivative assets	14	15
Derivative liabilities	9	7
Level 2 | Commodity
Fair value of assets and liabilities measured on recurring basis
Derivative assets	$ 12	$ 5

Fair Value Measurements - Finan

Fair Value Measurements - Financial Instruments Not Required to be Measured at Fair Value (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
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	$ 203	$ 127
Carrying Value | Level 2 | 2023 Notes
Estimated fair values of the company's financial instruments that are not measured at fair value on a recurring basis
Debt	187	193
Carrying Value | Level 2 | 2024 Notes
Estimated fair values of the company's financial instruments that are not measured at fair value on a recurring basis
Debt	379	379
Carrying Value | Level 2 | 2028 Notes
Estimated fair values of the company's financial instruments that are not measured at fair value on a recurring basis
Debt	596	596
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	34	24
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	11	11
Carrying Value | Cash | 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	1,194	1,295
Carrying Value | Cash equivalents | 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	719	914
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	203	127
Fair Value | Level 2 | 2023 Notes
Estimated fair values of the company's financial instruments that are not measured at fair value on a recurring basis
Debt	189	196
Fair Value | Level 2 | 2024 Notes
Estimated fair values of the company's financial instruments that are not measured at fair value on a recurring basis
Debt	381	399
Fair Value | Level 2 | 2028 Notes
Estimated fair values of the company's financial instruments that are not measured at fair value on a recurring basis
Debt	592	630
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	34	24
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	11	11
Fair Value | Cash | 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	1,194	1,295
Fair Value | Cash equivalents | 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	$ 719	$ 914

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Restricted stock units | Executives
Stock-Based Plans
Granted (in shares)	367,380	545,527
Granted, weighted average grant date fair value (in dollars per share)	$ 21.90	$ 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)	250,656	481,626
Options granted weighted-average exercise price, per share (in dollars per share)	$ 21.90	$ 17.96
Performance-based awards | Executives
Stock-Based Plans
Granted (in shares)	426,957	613,868
Vesting period ( in years )	3 years
Post-vest holding period ( in years )	3 years
Liabilities associated with SGI awards	$ 57		$ 73
Performance-based awards | Executives | General and Administrative Expense
Stock-Based Plans
Share-based compensation expense	$ 10	$ 32

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Performance-Based Awards Granted (Details)	3 Months Ended
	Mar. 31, 2022$ / sharesshares
2022 Performance Award Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance-based Award Units Granted (in shares) | shares	142,319
Weighted Average Grant Date Fair Value Per Share (in dollars per share) | $ / shares	$ 24.07
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	$ 24.48
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	$ 22.04

Other Comprehensive Income (L_3

Other Comprehensive Income (Loss) - Tax Effects of Components of Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Other comprehensive income (loss), Before-Tax Amount:
Before-Tax Amount	$ 28	$ (1)
Other comprehensive income (loss), Tax Benefit (Expense):
Tax Benefit (Expense)	1	1
Other comprehensive income (loss), Net-of-Tax Amount:
Total OCI, net of tax	29	0
Foreign currency translation adjustments
Other comprehensive income (loss), Before-Tax Amount:
Before-Tax Amount	29	3
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	29	3
Ownership share of equity method investees’ OCI
Other comprehensive income (loss), Before-Tax Amount:
Before-Tax Amount	0	(2)
Other comprehensive income (loss), Tax Benefit (Expense):
Tax Benefit (Expense)	1	0
Other comprehensive income (loss), Net-of-Tax Amount:
Total OCI, net of tax	1	(2)
DB plan adjustments
Other comprehensive income (loss), Before-Tax Amount:
Before-Tax Amount	1	1
Other comprehensive income (loss), Tax Benefit (Expense):
Tax Benefit (Expense)	0	1
Other comprehensive income (loss), Net-of-Tax Amount:
Total OCI, net of tax	1	2
Unrealized gain (loss) on hedges
Other comprehensive income (loss), Before-Tax Amount:
Before-Tax Amount	(2)	(3)
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	(2)	(3)
Less: OCI attributable to NCI
Other comprehensive income (loss), Before-Tax Amount:
Before-Tax Amount	0	0
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	0	0
AOCI
Other comprehensive income (loss), Before-Tax Amount:
Before-Tax Amount	28	(1)
Other comprehensive income (loss), Tax Benefit (Expense):
Tax Benefit (Expense)	1	1
Other comprehensive income (loss), Net-of-Tax Amount:
Total OCI, net of tax	$ 29	$ 0

Other Comprehensive Income (L_4

Other Comprehensive Income (Loss) - Changes in AOCI Balances by Component (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Changes in AOCI balances by component (after-tax)
Balance, beginning of year	$ 1,567	$ 1,263
Total OCI, net of tax	29	0
Balance, end of year	1,645	1,245
AOCI, Net
Changes in AOCI balances by component (after-tax)
Balance, beginning of year	(366)	(417)
Other comprehensive income (loss) before reclassifications	33	2
Amounts reclassified from AOCI	(4)	(2)
Total OCI, net of tax	29	0
Balance, end of year	(337)	(417)
Foreign Currency Translation
Changes in AOCI balances by component (after-tax)
Balance, beginning of year	(299)	(261)
Other comprehensive income (loss) before reclassifications	29	3
Amounts reclassified from AOCI	0	0
Total OCI, net of tax	29	3
Balance, end of year	(270)	(258)
Ownership Share of Equity Method Investees’ OCI
Changes in AOCI balances by component (after-tax)
Balance, beginning of year	(56)	(54)
Other comprehensive income (loss) before reclassifications	1	(2)
Amounts reclassified from AOCI	0	0
Total OCI, net of tax	1	(2)
Balance, end of year	(55)	(56)
DB Plans
Changes in AOCI balances by component (after-tax)
Balance, beginning of year	(18)	(119)
Other comprehensive income (loss) before reclassifications	1	0
Amounts reclassified from AOCI	0	2
Total OCI, net of tax	1	2
Balance, end of year	(17)	(117)
Unrealized Gain (Loss) on Hedges
Changes in AOCI balances by component (after-tax)
Balance, beginning of year	7	17
Other comprehensive income (loss) before reclassifications	2	1
Amounts reclassified from AOCI	(4)	(4)
Total OCI, net of tax	(2)	(3)
Balance, end of year	5	14
Accumulated Other Comprehensive Income (Loss), Net Attributable to Noncontrolling Interests
Changes in AOCI balances by component (after-tax)
Balance, beginning of year	(3)	(4)
Balance, end of year	(3)	(4)
Foreign Currency Translation
Changes in AOCI balances by component (after-tax)
Balance, beginning of year	(3)	(4)
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	(3)	(4)
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	174	233
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	$ 176	$ 261

Other Comprehensive Income (L_5

Other Comprehensive Income (Loss) - Significant Items Reclassified Out of AOCI (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Reclassifications out of accumulated other comprehensive income (loss)
Income tax (expense) benefit	$ (31,000)	$ (3,000)
Net earnings (loss)	56,000	(54,000)
Reclassified out of AOCI | DB Plans
Reclassifications out of accumulated other comprehensive income (loss)
Corporate G&A	0	(2,000)
Income tax (expense) benefit	0	0
Net earnings (loss)	0	(2,000)
Reclassified out of AOCI | Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent
Reclassifications out of accumulated other comprehensive income (loss)
Income tax (expense) benefit	(1,000)	(1,000)
Net earnings (loss)	4,000	4,000
Reclassified out of AOCI | Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent | Commodity and foreign currency contracts
Reclassifications out of accumulated other comprehensive income (loss)
Cost of Revenue	$ 5,000	$ 5,000

Discontinued Operations - Narra

Discontinued Operations - Narrative (Details) - AMECO - Discontinued Operations $ in Millions	1 Months Ended
	May 31, 2021USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sales of business	$ 71
Loss on disposal	$ 27

Discontinued Operations - Finan

Discontinued Operations - Financial Information of Discontinued Operations (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net earnings (loss) from Disc Ops attributable to Fluor	$ 0	$ (1)
Discontinued Operations | AMECO
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenue		16
Cost of revenue		(17)
Gross profit		(1)
Corporate G&A		0
Impairment expense		0
Foreign currency gain (loss)		0
Operating profit (loss)		(1)
Interest (expense) income, net		0
Earnings (loss) before taxes from Disc Ops		(1)
Income tax (expense) benefit		0
Net earnings (loss) from Disc Ops		(1)
Less: Net earnings (loss) from Disc Ops attributable to NCI		0
Net earnings (loss) from Disc Ops attributable to Fluor		$ (1)

Discontinued Operations - Cash

Discontinued Operations - Cash Flows information Related to Discontinued Operations (Details) $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)
Discontinued Operations | AMECO
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Capital expenditures	$ (11)