Other Comprehensive Income (Loss) (Tables)

3 Months Ended

Mar. 31, 2021

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Schedule of Components of Other Comprehensive Income (Loss) and Related Tax Effects

The components of other comprehensive income (loss) and the related tax effects for the three months ended March 31, 2021 and 2020 were as follows:

	Three Months Ended March 31, 2021						Three Months Ended March 31, 2020
(in thousands)	Before-Tax Amount		Tax (Expense) Benefit		Net-of-Tax Amount		Before-Tax Amount		Tax (Expense) Benefit		Net-of-Tax Amount
Other comprehensive income (loss):
Defined benefit pension plan adjustments	$	683	$	(191)	$	492	$	591	$	(168)	$	423
Foreign currency translation adjustments	402		(30)		372		(4,927)		914		(4,013)
Unrealized (loss) gain in fair value of investments	(1,550)		367		(1,183)		757		(215)		542
Total other comprehensive income (loss)	(465)		146		(319)		(3,579)		531		(3,048)
Less: Other comprehensive income (loss) attributable to noncontrolling interests(a)	296		—		296		(2,020)		—		(2,020)
Total other comprehensive income (loss) attributable to Tutor Perini Corporation	$	(761)	$	146	$	(615)	$	(1,559)	$	531	$	(1,028)

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(a)The only component of other comprehensive income (loss) attributable to noncontrolling interests is foreign currency translation.

Schedule of Changes in AOCI Balances by Component (After-Tax)

The changes in AOCI balances by component (after tax) attributable to Tutor Perini Corporation during the three months ended March 31, 2021 were as follows:

	Three Months Ended March 31, 2021
(in thousands)	Defined Benefit Pension Plan		Foreign Currency Translation		Unrealized Gain (Loss) in Fair Value of Investments, Net		Accumulated Other Comprehensive Income (Loss)
Attributable to Tutor Perini Corporation:
Balance as of December 31, 2020	$	(44,087)	$	(5,322)	$	2,668	$	(46,741)
Other comprehensive income (loss) before reclassifications	—		76		(1,060)		(984)
Amounts reclassified from AOCI	492		—		(123)		369
Total other comprehensive income (loss)	492		76		(1,183)		(615)
Balance as of March 31, 2021	$	(43,595)	$	(5,246)	$	1,485	$	(47,356)

The changes in AOCI balances by component (after tax) attributable to Tutor Perini Corporation during the three months ended March 31, 2020 were as follows:

	Three Months Ended March 31, 2020
(in thousands)	Defined Benefit Pension Plan		Foreign Currency Translation		Unrealized Gain (Loss) in Fair Value of Investments, Net		Accumulated Other Comprehensive Income (Loss)
Attributable to Tutor Perini Corporation:
Balance as of December 30, 2019	$	(37,826)	$	(5,371)	$	1,097	$	(42,100)
Other comprehensive income (loss) before reclassifications	—		(1,993)		546		(1,447)
Amounts reclassified from AOCI	423		—		(4)		419
Total other comprehensive income (loss)	423		(1,993)		542		(1,028)
Balance as of March 31, 2020	$	(37,403)	$	(7,364)	$	1,639	$	(43,128)

The significant items reclassified out of AOCI and the corresponding location and impact on the Consolidated Statements of Income during the three months ended March 31, 2021 and 2020 were as follows:

	Location in Consolidated	Three Months Ended March 31,
(in thousands)	Statements of Income	2021		2020
Component of AOCI:
Defined benefit pension plan adjustments	Other income, net	$	683	$	591
Income tax benefit	Income tax expense	(191)		(168)
Net of tax		$	492	$	423
Unrealized gain in fair value of investment adjustments	Other income, net	$	(156)	$	(5)
Income tax expense	Income tax expense	33		1
Net of tax		$	(123)	$	(4)