Fluor 2014 Annual Report Download - page 96

Download and view the complete annual report

Please find page 96 of the 2014 Fluor annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 144

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144

FLUOR CORPORATION
CONSOLIDATED STATEMENT OF EARNINGS
Year Ended December 31,
(in thousands, except per share amounts) 2014 2013 2012
TOTAL REVENUE $21,531,577 $27,351,573 $27,577,135
TOTAL COST OF REVENUE 20,132,544 25,986,382 26,692,138
OTHER (INCOME) AND EXPENSES
Corporate general and administrative expense 182,711 175,148 151,010
Interest expense 29,681 26,887 28,238
Interest income (18,268) (14,443) (27,756)
Total cost and expenses 20,326,668 26,173,974 26,843,630
EARNINGS FROM CONTINUING OPERATIONS
BEFORE TAXES 1,204,909 1,177,599 733,505
INCOME TAX EXPENSE 352,815 354,573 162,438
EARNINGS FROM CONTINUING OPERATIONS 852,094 823,026 571,067
LOSS FROM DISCONTINUED OPERATIONS, NET OF
TAX (204,551) — —
NET EARNINGS 647,543 823,026 571,067
LESS: NET EARNINGS ATTRIBUTABLE TO
NONCONTROLLING INTERESTS 136,634 155,315 114,737
NET EARNINGS ATTRIBUTABLE TO FLUOR
CORPORATION $ 510,909 $ 667,711 $ 456,330
AMOUNTS ATTRIBUTABLE TO FLUOR CORPORATION
Earnings from continuing operations $ 715,460 $ 667,711 $ 456,330
Loss from discontinued operations, net of tax (204,551) — —
Net earnings $ 510,909 $ 667,711 $ 456,330
BASIC EARNINGS (LOSS) PER SHARE ATTRIBUTABLE
TO FLUOR CORPORATION
Earnings from continuing operations $ 4.54 $ 4.11 $ 2.73
Loss from discontinued operations, net of tax (1.30) — —
Net earnings $ 3.24 $ 4.11 $ 2.73
DILUTED EARNINGS (LOSS) PER SHARE
ATTRIBUTABLE TO FLUOR CORPORATION
Earnings from continuing operations $ 4.48 $ 4.06 $ 2.71
Loss from discontinued operations, net of tax (1.28) — —
Net earnings $ 3.20 $ 4.06 $ 2.71
SHARES USED TO CALCULATE EARNINGS PER
SHARE
Basic 157,487 162,566 167,121
Diluted 159,616 164,354 168,491
DIVIDENDS DECLARED PER SHARE $ 0.84 $ 0.64 $ 0.64
See Notes to Consolidated Financial Statements.
F-3