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Fluor Corp (FLR) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021

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FLR Annual Reports

Fluor Corp

CIK: 1124198 Ticker: FLR


Fluor CorporationBrian MershonExhibit 99.1
6700 Las Colinas BlvdMedia Relations
Irving, Texas 75039469.398.7621 tel
469.398.7000 main telJason Landkamer
Investor Relations
469.398.7222 tel

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News Release

FLUOR REPORTS FOURTH QUARTER AND FULL YEAR 2021 RESULTS

Full year new awards of $8.8 billion; ending backlog $18.9 billion
Year-end cash and marketable securities balance of $2.3 billion
2021 cost optimization program resulted in run-rate savings to date of $52 million
2022 adjusted earnings per share (EPS) guidance established at a range of $1.15 to $1.40
IRVING, TX (February 22, 2022)
- Fluor Corporation (NYSE: FLR) announced today its financial results for its year ended December 31, 2021. Revenue for 2021 was $12.4 billion and net income from continuing operations resulted in a loss of $144 million, or $1.46 per diluted share. Excluding $198 million in pre-tax expenses related to the Dutch defined benefit pension settlement in the fourth quarter and certain other adjustments outlined in the table at the end of this release, adjusted earnings per diluted share for 2021 were $0.94. Consolidated segment profit for the year was $374 million compared to $333 million in 2020.


Full year new awards were $8.8 billion compared to $7.5 billion a year ago. Ending consolidated backlog for 2021 was $18.9 billion. Corporate G&A expenses for 2021 were $216 million, up from $202 million a year ago due to the impact of performance and stock price-driven incentive compensation. Fluor’s cash and marketable securities at the end of the year improved to $2.3 billion.

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The following information was filed by Fluor Corp (FLR) on Tuesday, February 22, 2022 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

Audit Information
Cover Page
Consolidated Balance Sheet
Consolidated Balance Sheet (Parenthetical)
Consolidated Statement Of Cash Flows
Consolidated Statement Of Changes In Equity
Consolidated Statement Of Changes In Equity (Parenthetical)
Consolidated Statement Of Comprehensive Income (Loss)
Consolidated Statement Of Operations
Contingencies And Commitments
Contingencies And Commitments (Details)
Contract Assets And Liabilities
Contract Assets And Liabilities (Details)
Debt And Letters Of Credit
Debt And Letters Of Credit (Tables)
Debt And Letters Of Credit - Narrative (Details)
Debt And Letters Of Credit - Schedule Of Debt (Details)
Derivatives And Hedging
Derivatives And Hedging (Tables)
Derivatives And Hedging - Gains (Losses) Associated With Cash Flow Hedges (Details)
Derivatives And Hedging - Narrative (Details)
Derivatives And Hedging - Notional Amounts And Fair Values (Details)
Description Of Business
Description Of Business (Details)
Discontinued Operations
Discontinued Operations (Tables)
Discontinued Operations - Assets And Liabilities Held For Sale (Details)
Discontinued Operations - Consolidated Statements Of Cash Flows For The Discontinued Operations (Details)
Discontinued Operations - Earnings From Discontinued Operations (Details)
Discontinued Operations - Narrative (Details)
Discontinued Operations - Schedule Of Impairment Expense (Details)
Earnings Per Share
Earnings Per Share (Details)
Earnings Per Share (Tables)
Earnings Per Share - Antidilutive Securities Excluded From Computation Of Eps (Details)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Financial Instruments Not Required To Be Measured At Fair Value (Details)
Fair Value Measurements - Recurring Basis (Details)
Guarantees
Guarantees (Details)
Impairment, Restructuring And Other Exit Costs
Impairment, Restructuring And Other Exit Costs (Tables)
Impairment, Restructuring And Other Exit Costs - Restructuring Costs (Details)
Impairment, Restructuring And Other Exit Costs - Restructuring Liability (Details)
Impairment, Restructuring And Other Exit Costs - Schedule Of Impairment (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Deferred Tax Assets And Liabilities (Details)
Income Taxes - Income Tax Expense (Benefit) (Details)
Income Taxes - Narrative (Details)
Income Taxes - Tax Credit Carryforward (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)
Leases
Leases (Tables)
Leases - Components Of Lease Expense (Details)
Leases - Information Related To Right-Of-Use Assets And Lease Liabilities (Details)
Leases - Remaining Lease Payments (Details)
Leases - Supplemental Information Related To Leases (Details)
Operating Information By Segment And Geographic Area
Operating Information By Segment And Geographic Area (Tables)
Operating Information By Segment And Geographic Area - External Revenue And Segment Profit (Loss) (Details)
Operating Information By Segment And Geographic Area - External Revenue And Total Assets By Geographic Area (Details)
Operating Information By Segment And Geographic Area - Narrative (Details)
Other Comprehensive Income (Loss)
Other Comprehensive Income (Loss) (Tables)
Other Comprehensive Income (Loss) - Changes In Aoci Balances By Component (Details)
Other Comprehensive Income (Loss) - Significant Items Reclassified Out Of Aoci (Details)
Other Comprehensive Income (Loss) - Tax Effects Of Components Of Other Comprehensive Income (Loss) (Details)
Other Noncurrent Liabilities
Other Noncurrent Liabilities (Details)
Partnerships And Joint Ventures
Partnerships And Joint Ventures (Tables)
Partnerships And Joint Ventures - Narrative (Details)
Partnerships And Joint Ventures - Summary Of Aggregate Financial Information (Details)
Partnerships And Joint Ventures - Variable Interest Entities (Details)
Preferred Stock
Preferred Stock (Details)
Property, Plant And Equipment
Property, Plant And Equipment (Details)
Property, Plant And Equipment (Tables)
Quarterly Financial Data (Unaudited)
Quarterly Financial Data (Unaudited) (Tables)
Quarterly Financial Data (Unaudited) - Narrative (Details)
Quarterly Financial Data (Unaudited) - Summary Of Quarterly Results Of Operations (Details)
Recent Accounting Pronouncements
Remaining Unsatisfied Performance Obligations
Remaining Unsatisfied Performance Obligations (Tables)
Remaining Unsatisfied Performance Obligations - Schedule Of Remaining Performance Obligation (Details)
Retirement Benefits (Tables)
Retirement Plans
Retirement Plans - Assumptions For Determining Projected Benefit Obligation And Net Periodic Cost Of Defined Benefit Pension Plans (Details)
Retirement Plans - Change In Projected Benefit Obligation And Plan Assets And Funded Status Of Defined Benefit Pension Plans (Details)
Retirement Plans - Defined Contribution Retirement Plans (Details)
Retirement Plans - Fair Value Measurements And Expected Benefit Payments For Defined Benefit Pension Plans (Details)
Retirement Plans - Multiemployer Pension Plans (Details)
Retirement Plans - Net Periodic Pension Expense For Defined Benefit Pension Plans (Details)
Retirement Plans - Target And Weighted Average Actual Allocations And Benefit Pension Plans (Details)
Revenue From Contract With Customer (Tables)
Significant Accounting Policies
Significant Accounting Policies (Policies)
Significant Accounting Policies (Tables)
Significant Accounting Policies - Revenue Recognition (Details)
Significant Accounting Policies - Schedule Of Useful Lives (Details)
Stock-Based Compensation
Stock-Based Compensation (Tables)
Stock-Based Compensation - Fair Value Of Options On Grant Date (Details)
Stock-Based Compensation - Narrative (Details)
Stock-Based Compensation - Range Of Exercise Prices And Intrinsic Value Related To Options Outstanding (Details)
Stock-Based Compensation - Restricted Stock, Restricted Stock Unit And Stock Option Activity, Terms And Significant Assumptions For Options (Details)
Stock-Based Compensation - Vdi Units Granted (Details)
Supplemental Cash Flow Information
Supplemental Cash Flow Information (Details)
Supplemental Cash Flow Information (Tables)
Ticker: FLR
CIK: 1124198
Form Type: 10-K Annual Report
Accession Number: 0001628280-22-003231
Submitted to the SEC: Tue Feb 22 2022 7:04:53 AM EST
Accepted by the SEC: Tue Feb 22 2022
Period: Friday, December 31, 2021
Industry: Heavy Construction Other Than Bldg Const Contractors

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