Income Statement

  Year Ending Dec 2019 (Update) Year Ending Dec 2018 (Restated) Year Ending Dec 2017 (Restated) Year Ending Dec 2016 (Update) Year Ending Dec 2015 (Update)
Net Sales 14,348.02 15,172.45 14,806.51 19,036.53 18,114.05
Revenue 14,348.02 15,172.45 14,806.51 19,036.53 18,114.05
Total Revenue 14,348.02 15,172.45 14,806.51 19,036.53 18,114.05
Cost of Revenue 14,775.40 14,803.23 14,528.78 18,246.21 17,019.35
Cost of Revenue, Total 14,775.40 14,803.23 14,528.78 18,246.21 17,019.35
Gross Profit -427.38 369.22 277.73 790.32 1,094.70
Selling/General/Administrative Expense 159.09 118.43 183.70 188.19 163.14
Selling/General/Administrative Expenses, Total 159.09 118.43 183.70 188.19 163.14
Interest Expense - Operating 74.10 77.14 67.46 69.69 44.77
Interest Expense, Net - Operating 74.10 77.14 67.46 69.69 44.77
Interest Income - Operating -54.37 -36.25 -27.42 -17.05 -16.69
Investment Income - Operating -- -- -- 2.89 5.19
Interest/Investment Income - Operating -54.37 -36.25 -27.42 -14.16 -11.50
Interest Expense (Income), Net-Operating, Total 19.73 40.89 40.04 55.53 33.27
Restructuring Charge 240.00 -- -- -- --
Impairment-Assets Held for Use 35.80 -- -- -- --
Impairment-Assets Held for Sale 256.80 -- -- -- --
Loss (Gain) on Sale of Assets - Operating -- -- -- 0.00 -68.16
Other Unusual Expense (Income) 137.90 21.90 0.18 0.00 239.90
Unusual Expense (Income) 670.50 21.90 0.18 0.00 171.73
Total Operating Expense 15,624.72 14,984.45 14,752.70 18,489.93 17,387.50
Operating Income -1,276.70 188.00 53.81 546.60 726.55
Net Income Before Taxes -1,276.70 188.00 53.81 546.60 726.55
Income Tax – Total 440.98 133.62 -36.62 219.15 245.89
Income After Tax -1,717.68 54.38 90.43 327.45 480.66
Minority Interest 41.45 -46.56 -64.53 -46.05 -62.49
Net Income Before Extraordinary Items -1,676.23 7.82 25.90 281.40 418.17
Discontinued Operations 154.07 164.27 180.75 0.00 -5.66
Extraordinary Item 0.00 1.37 -52.98 -- --
Total Extraordinary Items 154.07 165.65 127.77 0.00 -5.66
Net Income -1,522.16 173.47 153.67 281.40 412.51
Income Available to Common Excluding Extraordinary Items -1,676.23 7.82 25.90 281.40 418.17
Income Available to Common Stocks Including Extraordinary Items -1,522.16 173.47 153.67 281.40 412.51
Basic Weighted Average Shares 140.06 140.41 139.76 139.17 144.81
Basic EPS Excluding Extraordinary Items -11.97 0.06 0.19 2.02 2.89
Basic EPS Including Extraordinary Items -10.87 1.24 1.10 2.02 2.85
Dilution Adjustment -- -- -- -- --
Diluted Net Income -1,522.16 173.47 153.67 281.40 412.51
Diluted Weighted Average Shares 140.06 141.27 139.76 140.91 146.72
Diluted EPS Excluding Extraordinary Items -11.97 0.06 0.19 2.00 2.85
Diluted EPS Including Extraordinary Items -10.87 1.23 1.10 2.00 2.81
DPS - Common Stock Primary Issue 0.73 0.84 0.84 0.84 0.84
Gross Dividends - Common Stock 103.25 118.27 118.60 118.27 122.61
(Gain) Loss on Sale of Assets, Supplemental -- -- -- -- --
Other Unusual Expense (Income), Supplemental -- -- -- -- --
Non-Recurring Items, Total -- -- -- -- --
Total Special Items 670.50 21.90 0.18 0.00 171.73
Normalized Income Before Taxes -606.20 209.90 53.99 546.60 898.29
Effect of Special Items on Income Taxes 234.67 7.67 0.06 0.00 58.12
Income Taxes Excluding Impact of Special Items 675.66 141.29 -36.56 219.15 304.01
Normalized Income After Taxes -1,281.86 68.61 90.55 327.45 594.28
Normalized Income Available to Common -1,240.41 22.06 26.02 281.40 531.78
Basic Normalized EPS -8.86 0.16 0.19 2.02 3.67
Diluted Normalized EPS -8.86 0.16 0.19 2.00 3.62
Amortization of Intangibles, Supplemental 15.88 19.07 19.16 14.82 1.04
Depreciation, Supplemental 154.60 197.59 206.11 211.10 188.70
Interest Expense, Supplemental 74.17 77.14 67.46 69.69 44.77
Rental Expense, Supplemental 85.73 -- -- 152.00 169.00
Stock-Based Compensation, Supplemental 54.49 -22.27 52.62 29.32 -6.85
Minority Interest, Supplemental 41.45 -46.56 -64.53 -46.05 -62.49
Audit-Related Fees, Supplemental -- -- -- 8.30 8.20
Audit-Related Fees -- -- -- 0.70 0.90
Tax Fees, Supplemental -- -- -- 0.50 0.70
All Other Fees Paid to Auditor, Supplemental -- -- -- 0.00 0.00
Gross Margin -2.98 2.43 1.88 4.15 6.04
Operating Margin -8.90 1.24 0.36 2.87 4.01
Pretax Margin -8.90 1.24 0.36 2.87 4.01
Effective Tax Rate -- 71.08 -68.06 40.09 33.84
Net Profit Margin -11.68 0.05 0.17 1.48 2.31
Normalized EBIT -586.47 250.79 94.03 602.13 931.56
Normalized EBITDA -415.99 467.45 319.30 828.04 1,121.30
Current Tax - Domestic -36.59 -70.05 -180.71 120.80 22.47
Current Tax - Foreign 160.97 113.99 143.50 95.20 203.13
Current Tax - Local 4.30 8.78 -5.74 11.07 15.62
Current Tax - Total 128.67 52.73 -42.95 227.06 241.21
Deferred Tax - Domestic 288.90 31.30 -76.00 58.60 8.87
Deferred Tax - Foreign 9.59 55.21 75.98 -65.66 -5.63
Deferred Tax - Local 13.82 -5.61 6.34 -0.86 1.44
Deferred Tax - Total 312.31 80.90 6.32 -7.91 4.68
Income Tax - Total 440.98 133.62 -36.62 219.15 245.89
Interest Cost - Domestic -- -- -- 0.00 16.12
Service Cost - Domestic -- -- -- 0.00 6.80
Prior Service Cost - Domestic -- -- -- 0.00 0.87
Expected Return on Assets - Domestic -- -- -- 0.00 -19.71
Actuarial Gains and Losses - Domestic -- -- -- 0.00 9.71
Curtailments & Settlements - Domestic -- -- -- -- --
Domestic Pension Plan Expense -- -- -- 0.00 13.79
Interest Cost - Foreign 19.62 -- -- 26.44 26.51
Service Cost - Foreign 15.75 -- -- 19.51 20.52
Prior Service Cost - Foreign -0.89 -- -- -0.81 -0.81
Expected Return on Assets - Foreign -32.65 -- -- -39.54 -49.07
Actuarial Gains and Losses - Foreign 10.30 -- -- 8.82 7.68
Curtailments & Settlements - Foreign 137.90 -- -- 0.40 0.00
Foreign Pension Plan Expense 150.04 -- -- 14.81 4.83
Interest Cost - Post-Retirement -- -- -- -- --
Service Cost - Post-Retirement -- -- -- -- --
Prior Service Cost - Post-Retirement -- -- -- -- --
Expected Return on Assets - Post-Retirement -- -- -- -- --
Actuarial Gains and Losses - Post-Retirement -- -- -- -- 0.04
Other Post-Retirement, Net -- -- -- -- --
Post-Retirement Plan Expense -- -- -- -- 0.04
Defined Contribution Expense - Domestic -- -- -- -- --
Total Pension Expense 150.04 -- -- 14.81 18.66
Discount Rate - Domestic 1.80 -- -- 1.90 2.20
Discount Rate - Foreign -- -- -- -- --
Expected Rate of Return - Domestic 1.80 -- -- 4.30 4.90
Expected Rate of Return - Foreign 7.00 -- -- 7.00 8.00
Compensation Rate - Domestic 2.25 -- -- 2.25 2.25
Compensation Rate - Foreign 8.20 -- -- 7.00 7.00
Total Plan Interest Cost 19.62 -- -- 26.44 42.63
Total Plan Service Cost 15.75 -- -- 19.51 27.32
Total Plan Expected Return -32.65 -- -- -39.54 -68.78
Total Plan Other Expense -- -- -- -- --

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