Fluor 2014 Annual Report Download - page 107

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FLUOR CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
The changes in AOCI balances by component (after-tax) attributable to Fluor Corporation for the
year ended December 31, 2012 are as follows:
Ownership
Share of Equity Defined Unrealized
Method Benefit Unrealized Gain on Accumulated
Foreign Investees’ Other Pension and Gain (Loss) Available- Other
Currency Comprehensive Postretirement on Derivative for-Sale Comprehensive
(in thousands) Translation Income (Loss) Plans Contracts Securities Loss, Net
Balance as of December 31, 2011 $15,770 $(43,582) $(161,569) $(10,780) $869 $(199,292)
Current-period other
comprehensive income (loss) 30,129 563 (91,155) 1,820 85 (58,558)
Balance as of December 31, 2012 $45,899 $(43,019) $(252,724) $ (8,960) $954 $(257,850)
During 2014 and 2013, functional currency exchange rates for most of the company’s international
operations weakened against the U.S. dollar, resulting in unrealized translation losses. During 2012,
functional currency exchange rates for most of the company’s international operations strengthened
against the U.S. dollar, resulting in unrealized translation gains.
The significant items reclassified out of AOCI and the corresponding location and impact on the
Consolidated Statement of Earnings are as follows:
Year Ended
December 31,
Location in Consolidated
(in thousands) Statements of Earnings 2014 2013
Component of AOCI:
Ownership share of equity method investees’
other comprehensive loss Total cost of revenue $(15,662) $ —
Income tax benefit Income tax expense 5,866 —
Net of tax $ (9,796) $ —
Defined benefit pension plan adjustments Various accounts(1) $(12,922) $(12,931)
Income tax benefit Income tax expense 4,846 4,849
Net of tax $ (8,076) $ (8,082)
Unrealized gain (loss) on derivative contracts:
Commodity and foreign currency contracts Total cost of revenue $ 255 $ (4,502)
Interest rate contracts Interest expense (1,678) (1,678)
Income tax benefit (net) Income tax expense 541 2,322
Net of tax: (882) (3,858)
Less: Noncontrolling interests Net earnings attributable
to noncontrolling interests (43) (4)
Net of tax and noncontrolling interests $ (839) $ (3,854)
Unrealized gain on available-for-sale securities Corporate general and
administrative expense $ 140 $ 202
Income tax expense Income tax expense (52) (76)
Net of tax $ 88 $ 126
(1) Defined benefit pension plan adjustments were reclassified primarily to total cost of revenue and
corporate general and administrative expense.
F-14