Fluor 2014 Annual Report Download - page 27

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2014 ANNUAL REPORT 25
Selected Financial Data
Selected Financial Data
CONSOLIDATED OPERATING RESULTS
Year Ended December 31 2014 2013 2012 2011 2010
(in millions, except per share and employee information)
Total revenue $ 21,531.6 $ 27,351.6 $ 27,577.1 $ 23,381.4 $ 20,849.3
Earnings from continuing operations before taxes 1,204.9 1,177.6 733.5 1,001.8 559.6
Amounts attributable to Fluor Corporation:
Earnings from continuing operations $ 715.5 $ 667.7 $ 456.3 $ 593.7 $ 357.5
Loss from discontinued operations, net of taxes (204.6) — — — —
Net earnings $ 510.9 $ 667.7 $ 456.3 $ 593.7 $ 357.5
Basic earnings (loss) per share attributable
to Fluor Corporation:
Earnings from continuing operations $ 4.54 $ 4.11 $ 2.73 $ 3.44 $ 2.01
Loss from discontinued operations, net of taxes (1.30) — — — —
Net earnings $ 3.24 $ 4.11 $ 2.73 $ 3.44 $ 2.01
Diluted earnings (loss) per share attributable
to Fluor Corporation:
Earnings from continuing operations $4.48 $ 4.06 $ 2.71 $ 3.40 $ 1.98
Loss from discontinued operations, net of taxes (1.28) — — — —
Net earnings $ 3.20 $ 4.06 $ 2.71 $ 3.40 $ 1.98
Cash dividends per common share declared $0.84 $ 0.64 $ 0.64 $ 0.50 $ 0.50
Return on average shareholders’ equity 20.1% 18.6% 13.0% 17.4% 10.4%
CONSOLIDATED FINANCIAL POSITION
Current assets $ 5,758.0 $ 6,003.7 $ 6,094.1 $ 5,878.7 $ 5,561.8
Current liabilities 3,330.9 3,407.2 3,887.1 3,838.2 3,522.4
Working capital 2,427.1 2,596.5 2,207.0 2,040.5 2,039.4
Property, plant and equipment, net 980.3 967.0 951.3 921.6 866.3
Total assets 8,194.4 8,323.9 8,276.0 8,268.4 7,613.9
Capitalization
3.375% Senior Notes 497.0 496.6 496.2 495.7 —
3.5% Senior Notes 494.6 — — — —
1.5% Convertible Senior Notes 18.3 18.4 18.5 19.5 96.7
Other debt obligations 10.4 11.4 26.3 17.8 17.8
Shareholders’ equity 3,110.9 3,757.0 3,341.3 3,395.5 3,497.0
Total capitalization 4,131.2 4,283.4 3,882.3 3,928.5 3,611.5
Total debt as a percent of total capitalization 24.7% 12.3% 13.9% 13.6% 3.2%
Shareholders’ equity per common share $20.93 $ 23.29 $ 20.58 $ 20.09 $ 19.82
Common shares outstanding at year end 148.6 161.3 162.4 169.0 176.4
OTHER DATA
New awards $ 28,831.1 $ 25,085.6 $ 27,129.2 $
26,896
.1 $ 27,362.9
Backlog at year end 42,481.5 34,907.1 38,199.4 39,483.7 34,908.7
Capital expenditures 324.7 288.5 254.7 338.2 265.4
Cash provided by operating activities 642.6 788.9 603.8 889.7 550.9
Cash provided (utilized) by investing activities (199.1) (234.6) (13.7) (436.4) 218.4
Cash utilized by financing activities (666.4) (369.6) (616.6) (395.8) (389.9)
Employees at year end
Salaried employees 27,643 29,425 32,592 33,252 29,159
Craft/hourly employees 9,865 8,704 8,601 9,835 10,070
Total employees 37,508 38,129 41,193 43,087 39,229
Net earnings attributable to Fluor Corporation in 2014 included an after-tax loss from discontinued operations of $205 million (or $1.28 per diluted share) in connection with
the reassessment of estimated loss contingencies related to the previously divested lead business of St. Joe Minerals Corporation and The Doe Run Company in Herculaneum,
Missouri. The tax effect associated with this loss was $112 million. Net earnings attributable to Fluor Corporation in 2013 included pre-tax income of $57 million (or $0.22 per diluted
share) resulting from the favorable resolution of various issues with the U.S. government related to 2001 – 2013. Of this amount, $31 million was the result of resolving challenges as
to the reimbursability of certain costs, $11 million was the result of a favorable court ruling that resolved certain disputed items and $15 million was related to the closeout and final
disposition of other matters.
See page 24 of our Form 10-K for all explanatory footnotes relating to this selected financial data.