Fluor 2014 Annual Report Download - page 105

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FLUOR CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
recognized over the required service period, or over a shorter period when employee retirement eligibility
is a factor. Certain awards that may be settled in cash or company stock are classified as liabilities and
remeasured at fair value at the end of each reporting period until the awards are settled.
Other Comprehensive Income (Loss)
ASC 220, ‘‘Comprehensive Income,’’ establishes standards for reporting and displaying
comprehensive income and its components in the consolidated financial statements. The company reports
the cumulative foreign currency translation adjustments, unrealized gains and losses on available-for-sale
securities and derivative contracts, ownership share of equity method investees’ other comprehensive
income (loss), and adjustments related to defined benefit pension and postretirement plans, as
components of accumulated other comprehensive income (loss).
The tax effects of the components of other comprehensive income (loss) are as follows:
Year Ended December 31,
2014 2013 2012
Tax Tax Ta x
Before-Tax (Expense) Net-of-Tax Before-Tax (Expense) Net-of-Tax Before-Tax (Expense) Net-of-Tax
(in thousands) Amount Benefit Amount Amount Benefit Amount Amount Benefit Amount
Other comprehensive income (loss):
Foreign currency translation
adjustment $(197,361) $ 71,552 $(125,809) $(74,538) $27,637 $(46,901) $ 47,780 $(18,077) $ 29,703
Ownership share of equity
method investees’ other
comprehensive income 5,892 (4,054) 1,838 13,117 (2,372) 10,745 1,487 (924) 563
Defined benefit pension and
postretirement plan adjustments (106,957) 40,109 (66,848) (8,917) 3,344 (5,573) (145,848) 54,693 (91,155)
Unrealized gain (loss) on
derivative contracts (2,837) 773 (2,064) 2,171 (787) 1,384 2,369 (1,071) 1,298
Unrealized gain (loss) on
available-for-sale securities (700) 263 (437) (1,244) 466 (778) 135 (50) 85
Total other comprehensive loss (301,963) 108, 643 (193,320) (69,411) 28,288 (41,123) (94,077) 34,571 (59,506)
Less: Other comprehensive loss
attributable to noncontrolling
interests (7,309) — (7,309) (772) — (772) (948) — (948)
Other comprehensive loss
attributable to Fluor Corporation $(294,654) $ 108,643 $(186,011) $(68,639) $28,288 $(40,351) $ (93,129) $ 34,571 $(58,558)
In the first quarter of 2013, the company adopted Accounting Standards Update (‘‘ASU’’) 2013-02,
‘‘Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income,’’ which requires
an entity to disclose additional information about reclassification adjustments, including (a) changes in
AOCI balances by component and (b) significant items reclassified out of AOCI.
F-12