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Fluor Corp (FLR) SEC Filing 10-K Annual report for the fiscal year ending Saturday, December 31, 2016

SEC Filings

Fluor Corp

CIK: 1124198 Ticker: FLR

Exhibit 99.1

 

Fluor Corporation

Brian Mershon / Brett Turner

6700 Las Colinas Blvd

Media Relations

Irving, Texas 75039

469.398.7621 / 864-281-6976 tel

 

 

469.398.7000 main tel

Geoff Telfer / Jason Landkamer

 

Investor Relations

 

469.398.7070 / 469.398.7222 tel

 

 

News Release

 

FLUOR REPORTS FOURTH QUARTER AND FULL YEAR 2016 RESULTS

 

IRVING, TEXAS — February 17, 2017 — Fluor Corporation (NYSE: FLR) today announced financial results for its fiscal year ended December 31, 2016. Including adverse fourth quarter tax effects of $45 million, or $0.32 per diluted share, primarily as a result of new IRS regulations approved on December 7, 2016, earnings from continuing operations attributable to Fluor for full year 2016 were $281 million, or $2.00 per diluted share. Excluding these adverse tax effects, the company reported a net profit from continuing operations of $326 million, or $2.32 per diluted share. This compares to 2015 earnings from continuing operations attributable to Fluor of $418 million, or $2.85 per diluted share. Consolidated segment profit for the year was $744 million, compared to $1.0 billion a year ago. Revenue of $19.0 billion in 2016 compares to $18.1 billion in the prior year. As described in the pre-announcement release dated February 10, 2017, the adverse tax effects of $45 million relate to the inability to deduct or otherwise benefit certain foreign losses.

 

Full year new awards were $21 billion, including $8.4 billion in Energy, Chemicals & Mining, $6.2 billion in Industrial, Infrastructure & Power, $4.6 billion in Government and $1.8 billion in Maintenance, Modification & Asset Integrity. This compares to $21.8 billion in new awards in 2015. Consolidated backlog at year-end was $45 billion, compared with $44.7 billion a year ago, reflecting growth in the Government and Industrial, Infrastructure & Power segments.

 


The following information was filed by Fluor Corp (FLR) on Friday, February 17, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Fluor Corp's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheet
Consolidated Balance Sheet (parenthetical)
Consolidated Statement Of Cash Flows
Consolidated Statement Of Cash Flows (parenthetical)
Consolidated Statement Of Changes In Equity
Consolidated Statement Of Changes In Equity (parenthetical)
Consolidated Statement Of Comprehensive Income
Consolidated Statement Of Earnings
Acquisitions Of Stork Holding B.v.
Acquisitions Of Stork Holding B.v. (tables)
Acquisitions Of Stork Holding B.v. - Acquired Intangible Assets (details)
Acquisitions Of Stork Holding B.v. - Additional Purchase Price Allocation Information (details)
Acquisitions Of Stork Holding B.v. - Purchase Consideration, Assumed Debt Obligations And Redemption Of Assumed Stork Notes (details)
Acquisitions Of Stork Holding B.v. - Purchase Price Allocation (details)
Acquisitions Of Stork Holding B.v. - Revenue And Earnings, Costs Expensed And Pro Forma Financial Information (details)
Consolidated Statement Of Cash Flows
Consolidated Statement Of Cash Flows (details)
Consolidated Statement Of Cash Flows (tables)
Contingencies And Commitments
Contingencies And Commitments (details)
Derivatives And Hedging
Derivatives And Hedging (tables)
Derivatives And Hedging - Derivative Contracts Not Designated As Hedging Instruments (details)
Derivatives And Hedging - Gains (losses) Associated With Fair Value And Cash Flow Hedges (details)
Derivatives And Hedging - Notional Amounts And Fair Values (details)
Discontinued Operations
Discontinued Operations (details)
Earnings Per Share
Earnings Per Share (details)
Earnings Per Share (tables)
Fair Value Measurements - Financial Instruments Not Required To Be Measured At Fair Value (details)
Fair Value Measurements - Recurring Basis (details)
Fair Value Of Financial Instruments
Fair Value Of Financial Instruments (tables)
Financing Arrangements
Financing Arrangements (tables)
Financing Arrangements - Consolidated Debt (details)
Financing Arrangements - Credit Facilities (details)
Financing Arrangements - Other Borrowings (details)
Financing Arrangements - Senior Notes And Debt Related To Stork (details)
Guarantees
Guarantees (details)
Income Taxes
Income Taxes (tables)
Income Taxes - Deferred Tax Assets And Liabilities (details)
Income Taxes - Differences In Year-over-year Earnings From Continuing Operations (details)
Income Taxes - Income Tax Examinations (details)
Income Taxes - Income Tax Expense (benefit) (details)
Income Taxes - Net Operating Loss Carryforwards (details)
Income Taxes - U.s. And Foreign Earnings From Continuing Operations Before Taxes (details)
Income Taxes - U.s. Statutory Federal Reconciliation (details)
Income Taxes - Unrecognized Tax Benefits (details)
Income Taxes - Valuation Allowance (details)
Lease Obligations
Lease Obligations (tables)
Lease Obligations - Rent Expense And Future Minimum Rentals (details)
Lease Obligations - Sale And Lease Back Of Buildings (details)
Major Accounting Policies
Major Accounting Policies (policies)
Major Accounting Policies (tables)
Major Accounting Policies - Changes In Aoci Balances By Component (details)
Major Accounting Policies - Engineering And Construction Contracts (details)
Major Accounting Policies - Goodwill (details)
Major Accounting Policies - Intangible Assets (details)
Major Accounting Policies - Property, Plant And Equipment (details)
Major Accounting Policies - Recent Accounting Pronouncements (details)
Major Accounting Policies - Research And Development (details)
Major Accounting Policies - Significant Items Reclassified Out Of Aoci (details)
Major Accounting Policies - Tax Effects Of Components Of Other Comprehensive Income (loss) (details)
Noncontrolling Interests
Noncontrolling Interests (details)
Operations By Business Segment And Geographic Area
Operations By Business Segment And Geographic Area (tables)
Operations By Business Segment And Geographic Area - Additional Operating Information (details)
Operations By Business Segment And Geographic Area - Concentrations (details)
Operations By Business Segment And Geographic Area - Depreciation And Amortization Of Fixed Assets And Capital Expenditures (details)
Operations By Business Segment And Geographic Area - External Revenue And Segment Profit (details)
Operations By Business Segment And Geographic Area - External Revenue And Total Assets By Geographic Area (details)
Operations By Business Segment And Geographic Area - Non-operating (income ) Expense (details)
Operations By Business Segment And Geographic Area - Reconciliation To Consolidated Amounts (details)
Operations By Business Segment And Geographic Area - Reportable Segments (details)
Operations By Business Segment And Geographic Area - Total Assets And Goodwill (details)
Other Noncurrent Liabilities
Other Noncurrent Liabilities (details)
Partial Sale Of A Subsidiary
Partial Sale Of A Subsidiary (details)
Partnerships And Joint Ventures
Partnerships And Joint Ventures - Joint Venture Investment Agreement (details)
Partnerships And Joint Ventures - Ownership And Receivables (details)
Partnerships And Joint Ventures - Projects (details)
Partnerships And Joint Ventures - Unconsolidated Partnerships And Joint Ventures And Equity Method Investments (details)
Partnerships And Joint Ventures - Variable Interest Entities (details)
Quarterly Financial Data (unaudited)
Quarterly Financial Data (unaudited) (tables)
Quarterly Financial Data (unaudited) - Quarterly Charges And Items Affecting Comparability (details)
Quarterly Financial Data (unaudited) - Summary Of Quarterly Results Of Operations (details)
Retirement Benefits
Retirement Benefits (tables)
Retirement Benefits - Assumptions For Determining Projected Benefit Obligation And Net Periodic Cost Of Defined Benefit Pension Plans (details)
Retirement Benefits - Change In Projected Benefit Obligation And Plan Assets And Funded Status Of Defined Benefit Pension Plans (details)
Retirement Benefits - Defined Benefit Pension Plan Amendments And Settlement (details)
Retirement Benefits - Defined Contribution Retirement Plans (details)
Retirement Benefits - Fair Value Measurements And Expected Benefit Payments For Defined Benefit Pension Plans (details)
Retirement Benefits - Multiemployer Pension Plans (details)
Retirement Benefits - Net Periodic Pension Expense For Defined Benefit Pension Plans (details)
Retirement Benefits - Target And Weighted Average Actual Allocations And Benefit Pension Plans (details)
Stock-based Plans
Stock-based Plans (tables)
Stock-based Plans - Range Of Exercise Prices And Intrinsic Value Related To Options Outstanding (details)
Stock-based Plans - Recorded Compensation Cost (details)
Stock-based Plans - Restricted Stock, Restricted Stock Unit And Stock Option Activity, Terms And Significant Assumptions For Options (details)
Stock-based Plans - Vdi Units (details)
Ticker: FLR
CIK: 1124198
Form Type: 10-K Annual Report
Accession Number: 0001047469-17-000724
Submitted to the SEC: Fri Feb 17 2017 7:58:44 AM EST
Accepted by the SEC: Fri Feb 17 2017
Period: Saturday, December 31, 2016
Industry: Heavy Construction Other Than Bldg Const Contractors

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