Other Comprehensive Income (Loss) (Tables)

3 Months Ended

Mar. 31, 2022

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, 2022 and 2021 were as follows:

	Three Months Ended March 31, 2022						Three Months Ended March 31, 2021
(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	$	639	$	(181)	$	458	$	683	$	(191)	$	492
Foreign currency translation adjustments	256		1		257		402		(30)		372
Unrealized loss in fair value of investments	(5,514)		1,310		(4,204)		(1,550)		367		(1,183)
Total other comprehensive income (loss)	(4,619)		1,130		(3,489)		(465)		146		(319)
Less: Other comprehensive income (loss) attributable to noncontrolling interests	(379)		—		(379)		296		—		296
Total other comprehensive income (loss) attributable to Tutor Perini Corporation	$	(4,240)	$	1,130	$	(3,110)	$	(761)	$	146	$	(615)

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

The changes in AOCI balances by component (after tax) attributable to Tutor Perini Corporation and attributable to noncontrolling interests during the three months ended March 31, 2022 and 2021 were as follows:

	Three Months Ended March 31, 2022
(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, 2021	$	(37,866)	$	(5,787)	$	18	$	(43,635)
Other comprehensive loss before reclassifications	—		(9)		(3,568)		(3,577)
Amounts reclassified from AOCI	458		—		9		467
Total other comprehensive income (loss)	458		(9)		(3,559)		(3,110)
Balance as of March 31, 2022	$	(37,408)	$	(5,796)	$	(3,541)	$	(46,745)
Attributable to Noncontrolling Interests:
Balance as of December 31, 2021	$	—	$	542	$	—	$	542
Other comprehensive income (loss)	—		266		(645)		(379)
Balance as of March 31, 2022	$	—	$	808	$	(645)	$	163

	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)
Attributable to Noncontrolling Interests:
Balance as of December 31, 2020	$	—	$	402	$	—	$	402
Other comprehensive income	—		296		—		296
Balance as of March 31, 2021	$	—	$	698	$	—	$	698

The significant items reclassified out of AOCI and the corresponding location and impact on the Condensed Consolidated Statements of Operations during the three months ended March 31, 2022 and 2021 were as follows:

	Three Months Ended March 31,
(in thousands)	2022		2021
Component of AOCI:
Defined benefit pension plan adjustments(a)	$	639	$	683
Income tax benefit(b)	(181)		(191)
Net of tax	$	458	$	492
Unrealized (gain) loss in fair value of investment adjustments(a)	$	11	$	(156)
Income tax expense (benefit)(b)	(2)		33
Net of tax	$	9	$	(123)

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(a)Amount included in other income, net on the Condensed Consolidated Statements of Operations.

(b)Amounts included in income tax (expense) benefit on the Condensed Consolidated Statements of Operations.