Description of Business

12 Months Ended

Dec. 31, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Fluor Corporation (“we”, “us”, “our” or “the company”) is a holding company that owns the stock of a number of subsidiaries, as well as interests in joint ventures. Acting through these entities, we are one of the largest professional services firms providing engineering, procurement, construction, fabrication and modularization, operations, maintenance and asset integrity, as well as project management services, on a global basis. We provide services to our clients in a diverse set of industries worldwide including oil and gas, chemicals and petrochemicals, mining and metals, infrastructure, life sciences, advanced manufacturing and advanced technologies. We are also a service provider to the U.S. federal government and governments abroad; and, we perform operations, maintenance and asset integrity activities globally for major industrial clients.

The Energy & Chemicals segment focuses on opportunities in the upstream, midstream, downstream, chemical, petrochemical, offshore and onshore oil and gas production, liquefied natural gas and pipeline markets. This segment has long served a broad spectrum of industries offering a full range of design, engineering, procurement, construction, fabrication and project management services.

The Mining & Industrial segment provides design, engineering, procurement, construction and project management services to the mining and metals, life sciences, advanced manufacturing and advanced technologies sectors.

The Infrastructure & Power segment provides design, engineering, procurement, construction and project management services to the transportation and power sectors.

The Diversified Services segment provides a wide array of asset maintenance, asset integrity and staffing services. These services are provided around the world during both the project delivery phases as well as to new or existing client production assets. Most of the operating results of the company’s AMECO equipment business are now included in discontinued operations. Certain operations of AMECO, primarily in Mexico, are in the process of being liquidated and did not meet the qualifications of discontinued operations. These retained operations will remain in the Diversified Services segment until liquidation is complete.

Other includes the operations of NuScale, as well as two lump-sum, loss projects that were being excluded from the planned sale of the government business, which we decided to retain in the first quarter of 2020, including a plant for which the company serves as a subcontractor to a commercial client (the "Radford" project) and a weapons storage and maintenance facility (the "Warren" project).

During 2019, management committed to a plan to sell substantially all of our government and AMECO equipment businesses, while retaining two lump-sum projects previously included in the government segment and a few small international components of AMECO. These disposal groups meet the held for sale criteria, and as a result, the underlying assets and liabilities have been classified as held for sale for all periods presented. The operations of the disposal groups also qualify for discontinued operations, and therefore their results have been presented as earnings from discontinued operations, net of tax, for all periods presented. In the first quarter of 2020, we decided to retain our government business, which will no longer be reported as discontinued operations in 2020.

Also during 2019, management reviewed our business lines, markets and geographies and changed the composition of our reportable segments to align them with the manner in which the chief executive officer manages the business and allocates resources. The Mining, Industrial, Infrastructure & Power segment was separated into a Mining & Industrial segment and an Infrastructure & Power segment. The operations of NuScale, as well as the two government projects discussed above, were combined into a newly created segment called Other. At December 31, 2019, we reported our operating results in the following five reportable segments:


•	Energy & Chemicals


•	Mining & Industrial


•	Infrastructure & Power


•	Diversified Services

•

Other