8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 14, 2016

FLUOR CORPORATION

(Exact name of registrant as specified in its charter)

Delaware	001-16129	33-0927079
(State or other jurisdiction of incorporation or organization)	(Commission File Number)	(IRS Employer Identification Number)

6700 Las Colinas Blvd. Irving, Texas	75039
(Address of principal executive offices)	(Zip Code)

(469) 398-7000

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

oWritten communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

oSoliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

oPre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

oPre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02.  Results of Operations and Financial Condition.

On April 14, 2016, Fluor Corporation (the “Company”) announced that it will change the reporting of its financial results to better reflect the diverse end markets the Company serves.  Starting with first quarter results that will be released on May 5, 2016, the Company will report its financial results based on the following business segments:

·Energy, Chemicals & Mining: This commodity-related segment will focus on opportunities in the upstream, downstream, chemical, petrochemical, offshore, LNG, pipeline and mining markets.

·Industrial, Infrastructure & Power: This segment includes the markets of infrastructure, power and life sciences & advanced manufacturing, which predominately contract on a fixed-price basis.

·Maintenance, Modification & Asset Integrity: This services-related segment, which is heavily focused on operating expense (OpEx) related spending, includes the activities associated with the recent acquisition of Stork Holding B.V. combined with the Company’s existing operations and maintenance activities, its equipment rental-related company (AMECO), its temporary staffing organization (TRS), and Power Services.

·Government: The Government segment remains unchanged.

Unaudited segment information by quarter and year for 2014 and 2015 under the new reporting structure is included in exhibits to this Form 8-K.  “Segment profit” is calculated as revenue less cost of revenue and earnings attributable to noncontrolling interests excluding: corporate general and administrative expense; interest expense; interest income; domestic and foreign income taxes; other non-operating income and expense items; and loss from discontinued operations.

The Company includes backlog and new awards data in the exhibits.  Backlog is a measure of the total dollar value of work to be performed on contracts awarded and in progress.  Although backlog reflects business that is considered to be firm, cancellations, deferrals or scope adjustments may occur.  Backlog is adjusted to reflect any known project cancellations, revisions to project scope and cost, and deferrals, as appropriate.  New awards is a measure of the total dollar value of work to be performed on contracts awarded in the period.  Backlog and new awards measures are regularly reported in the construction industry.

The information in this Current Report on Form 8-K, including the exhibits, shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to liabilities of that section.  Furthermore, this Current Report on Form 8-K, including the exhibits, shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934.

Item 9.01.  Financial Statements and Exhibits.

(d)Exhibits.

Exhibit Number	Description
99.1	Press Release issued by Fluor Corporation on April 14, 2016 announcing new reporting segments.
99.2	Annual and Quarterly Recast Segment Information (unaudited).
99.3	Annual and Quarterly Recast Backlog and New Awards By Segment.

2

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

April 14, 2016	FLUOR CORPORATION
	By:	/s/ Biggs C. Porter
		Biggs C. Porter
		Executive Vice President and Chief
		Financial Officer

3

FLUOR CORPORATION

INDEX OF EXHIBITS

Exhibit Number	Description
99.1	Press Release issued by Fluor Corporation on April 14, 2016 announcing new reporting segments.
99.2	Annual and Quarterly Recast Segment Information (unaudited).
99.3	Annual and Quarterly Recast Backlog and New Awards By Segment.

4

EX-99.1

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 ANNOUNCES NEW REPORTING SEGMENTS

IRVING, TEXAS — April 14, 2016 — Fluor Corporation (NYSE: FLR) today announced that it will change the reporting of its financial results to better reflect the diverse end markets Fluor serves.  Starting with first quarter results that will be released on May 5, 2016, the company will report its financial results based on the following business segments:

·Energy, Chemicals & Mining: This commodity-related segment will focus on opportunities in the upstream, downstream, chemical, petrochemical, offshore, LNG, pipeline and mining markets.

·Industrial, Infrastructure & Power: This segment includes the markets of infrastructure, power and life sciences & advanced manufacturing, which predominately contract on a fixed-price basis.

·Maintenance, Modification & Asset Integrity: This services-related segment, which is heavily focused on operating expense (OpEx) related spending, includes the activities associated with the recent acquisition of Stork combined with Fluor’s existing operations and maintenance activities, its equipment rental-related company (AMECO), its temporary staffing organization (TRS), and Power Services.

Page 2 of 3

·Government: The Government segment remains unchanged.

The following table shows the new reporting segments compared to the prior reporting structure:

Old	New
Segment: Oil & Gas	Segment: Energy, Chemicals & Mining
Includes: Upstream, downstream, refining, chemical, petrochemical, offshore, LNG and pipeline	Includes: Upstream, downstream, refining, chemical, petrochemical, offshore, LNG, pipeline and mining
Segment: Industrial & Infrastructure	Segment: Industrial, Infrastructure & Power
Includes: Infrastructure, Mining, Industrial Services - Life Sciences & Advanced Manufacturing, Operations & Maintenance (Fluor legacy)	Includes: Infrastructure, Power EPC, NuScale, Life Sciences & Advanced Manufacturing
Segment: Power	Power EPC and NuScale included in Industrial, Infrastructure & Power
Includes: Power EPC, Power Services (Fluor legacy), NuScale	Power Services (Fluor legacy) included in MMAI
Segment: Global Services	Segment: Maintenance, Modification & Asset Integrity (MMAI)
Includes: AMECO, TRS	Includes: Stork (incl. Fluor legacy O&M), AMECO, TRS, Power Services (Fluor legacy),
Segment: Government	Segment: Government

Financial Information

Unaudited segment information by quarter and year for 2014 and 2015 under the new reporting structure will be available in an 8-K filed today and on the company’s web site at http://investor.fluor.com.

Page 3 of 3

About Fluor Corporation

Fluor Corporation (NYSE: FLR) is a global engineering, procurement, fabrication, construction and maintenance company that designs, builds and maintains capital-efficient facilities for its clients on six continents. For more than a century, Fluor has served clients by delivering innovative and integrated solutions for our clients across the globe. With headquarters in Irving, Texas, Fluor ranks 136 on the FORTUNE 500 list with revenue of $18.1 billion in 2015 and has 59,000 employees worldwide. For more information, please visit www.fluor.com or follow us on Twitter @FluorCorp.

EX-99.2

Exhibit 99.2

RECAST SEGMENT INFORMATION

($ in thousands) (Unaudited)

	2015										2014
	Full Year		Q4 12/31(1)		Q3 9/30(1)		Q2 6/30		Q1 3/31		Full Year		Q4 12/31		Q3 9/30		Q2 6/30		Q1 3/31
Energy, Chemicals & Mining
Revenue / Work Performed	11,865,382		2,818,200		2,801,362		3,263,070		2,982,750		14,563,003		3,524,015		3,713,117		3,568,433		3,757,438
Segment Profit	866,549		211,113		208,196		229,395		217,845		858,529		234,975		214,720		213,410		195,424
Segment Profit Margin (%)	7.30	%	7.49	%	7.43	%	7.03	%	7.30	%	5.90	%	6.67	%	5.78	%	5.98	%	5.20	%
New Awards	11,980,800		2,158,900		3,627,400		2,846,000		3,348,500		20,679,900		4,956,300		4,722,100		1,677,400		9,324,100
Backlog	29,363,400		29,363,400		30,051,300		30,039,500		29,742,000		30,528,500		30,528,500		29,955,600		27,676,100		30,106,000
Industrial, Infrastructure & Power
Revenue / Work Performed	2,263,993		540,251		596,114		580,939		546,689		2,854,763		798,391		761,243		683,366		611,763
Segment Profit (Loss)(2)	(44,906	)	(29,595	)	(29,355	)	4,301		9,743		158,128		33,824		57,348		43,618		23,338
Segment Profit (Loss) Margin (%)(2)	(1.98	)%	(5.48	)%	(4.92	)%	0.74	%	1.78	%	5.54	%	4.24	%	7.53	%	6.38	%	3.81	%
New Awards	7,064,700		5,161,000		1,281,400		92,500		529,800		2,347,100		515,800		411,800		973,400		446,100
Backlog	9,694,500		9,694,500		5,084,300		4,397,700		4,792,800		4,958,500		4,958,500		5,205,200		5,546,400		5,310,200
Government
Revenue / Work Performed	2,557,437		647,609		660,742		603,074		646,012		2,511,880		705,005		615,018		598,667		593,190
Segment Profit	83,128		21,152		29,971		17,215		14,790		92,691		36,668		29,604		13,905		12,514
Segment Profit Margin (%)	3.25	%	3.27	%	4.54	%	2.85	%	2.29	%	3.69	%	5.20	%	4.81	%	2.32	%	2.11	%
New Awards	1,428,900		352,000		277,300		725,800		73,800		4,693,200		157,500		699,500		3,088,000		748,200
Backlog	3,559,900		3,559,900		3,825,700		4,305,700		4,170,500		4,740,600		4,740,600		5,218,300		5,184,400		2,647,700
Maintenance, Modification & Asset Integrity
Revenue	1,427,236		364,621		326,394		363,023		373,198		1,601,931		427,785		350,703		401,198		422,245
Work Performed	928,094		240,751		206,226		237,585		243,532		1,020,762		272,349		210,602		257,631		280,180
Segment Profit	127,431		31,513		31,528		30,833		33,557		153,052		40,982		33,061		42,189		36,820
Segment Profit Margin (%)	8.93	%	8.64	%	9.66	%	8.49	%	8.99	%	9.55	%	9.58	%	9.43	%	10.52	%	8.72	%
New Awards(3)	1,371,800		163,900		108,200		604,100		495,600		1,110,900		658,500		178,000		124,300		150,100
Backlog(3)	2,108,300		2,108,300		2,732,000		2,849,100		2,489,500		2,253,900		2,253,900		1,890,700		1,921,300		2,098,700

(1) Segment profit (loss) for the Industrial, Infrastructure & Power segment in the third and fourth quarters of 2015 was adversely impacted by pre-tax losses of $21 million and $31 million, respectively, resulting from forecast revisions for a large gas-fired power plant in Brunswick County, Virginia.

(2) Segment profit (loss) for the Industrial, Infrastructure & Power segment includes research and development expenses associated with NuScale totaling $80 million and $46 million for the years ended December 31, 2015 and 2014, respectively.

(3) The equipment and temporary staffing business lines in the Maintenance, Modification & Asset Integrity segment do not report backlog or new awards.

EX-99.3

Exhibit 99.3

RECAST BACKLOG AND NEW AWARDS BY SEGMENT

($ in millions)

RECAST BACKLOG BY SEGMENT

										Total
		Energy, Chemicals		Industrial,				Maintenance, Modification		Fluor
		& Mining		Infrastructure & Power		Government		& Asset Integrity(1)		Corporation
Year	Period	$	%	$	%	$	%	$	%	$	%
2014	Q1	30,106	75	5,310	13	2,648	7	2,099	5	40,163	100
	Q2	27,676	68	5,547	14	5,184	13	1,921	5	40,328	100
	Q3	29,956	71	5,205	12	5,218	12	1,891	5	42,270	100
	Q4	30,529	72	4,958	12	4,741	11	2,254	5	42,482	100
2015(2)	Q1	29,742	72	4,793	12	4,171	10	2,489	6	41,195	100
	Q2	30,039	72	4,398	11	4,306	10	2,849	7	41,592	100
	Q3	30,051	72	5,084	12	3,826	9	2,732	7	41,693	100
	Q4	29,363	65	9,695	22	3,560	8	2,108	5	44,726	100

RECAST NEW AWARDS BY SEGMENT

										Total
		Energy, Chemicals		Industrial,				Maintenance, Modification		Fluor
		& Mining		Infrastructure & Power		Government		& Asset Integrity(1)		Corporation
Year	Period	$	%	$	%	$	%	$	%	$	%
2014	Q1	9,324	87	446	4	748	7	150	2	10,668	100
	Q2	1,678	29	973	16	3,088	53	124	2	5,863	100
	Q3	4,722	78	411	7	700	12	178	3	6,011	100
	Q4	4,956	79	517	8	157	3	659	10	6,289	100
	Full Year	20,680	72	2,347	8	4,693	16	1,111	4	28,831	100
2015	Q1	3,348	75	530	12	74	2	496	11	4,448	100
	Q2	2,846	67	92	2	726	17	604	14	4,268	100
	Q3	3,628	69	1,281	24	277	5	108	2	5,294	100
	Q4	2,159	28	5,161	66	352	4	164	2	7,836	100
	Full Year	11,981	55	7,064	33	1,429	6	1,372	6	21,846	100

(1) The equipment and temporary staffing business lines in the Maintenance, Modification & Asset Integrity segment do not report backlog or new awards.

(2) Backlog was negatively impacted by approximately $3.0 billion for the year ended December 31, 2015 due to a strengthening U.S. dollar compared to most major foreign currencies.