Other Comprehensive Income (Loss) (Tables)

9 Months Ended

Sep. 30, 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 and nine months ended September 30, 2022 and 2021 were as follows:

	Three Months Ended September 30, 2022						Three Months Ended September 30, 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 loss:
Defined benefit pension plan adjustments	$	639	$	(181)	$	458	$	683	$	(191)	$	492
Foreign currency translation adjustments	(3,016)		489		(2,527)		(1,389)		264		(1,125)
Unrealized loss in fair value of investments	(3,188)		678		(2,510)		(581)		133		(448)
Total other comprehensive loss	(5,565)		986		(4,579)		(1,287)		206		(1,081)
Less: Other comprehensive loss attributable to noncontrolling interests	(1,525)		—		(1,525)		(447)		—		(447)
Total other comprehensive loss attributable to Tutor Perini Corporation	$	(4,040)	$	986	$	(3,054)	$	(840)	$	206	$	(634)

	Nine Months Ended September 30, 2022						Nine Months Ended September 30, 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 loss:
Defined benefit pension plan adjustments	$	1,916	$	(543)	$	1,373	$	2,049	$	(574)	$	1,475
Foreign currency translation adjustments	(4,458)		798		(3,660)		(541)		188		(353)
Unrealized loss in fair value of investments	(11,086)		2,314		(8,772)		(1,828)		416		(1,412)
Total other comprehensive loss	(13,628)		2,569		(11,059)		(320)		30		(290)
Less: Other comprehensive income (loss) attributable to noncontrolling interests	(2,677)		—		(2,677)		129		—		129
Total other comprehensive loss attributable to Tutor Perini Corporation	$	(10,951)	$	2,569	$	(8,382)	$	(449)	$	30	$	(419)

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 and nine months ended September 30, 2022 were as follows:

	Three Months Ended September 30, 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 June 30, 2022	$	(36,951)	$	(6,568)	$	(5,444)	$	(48,963)
Other comprehensive loss before reclassifications	—		(1,238)		(2,337)		(3,575)
Amounts reclassified from AOCI	458		—		63		521
Total other comprehensive income (loss)	458		(1,238)		(2,274)		(3,054)
Balance as of September 30, 2022	$	(36,493)	$	(7,806)	$	(7,718)	$	(52,017)
Attributable to Noncontrolling Interests:
Balance as of June 30, 2022	$	—	$	190	$	(800)	$	(610)
Other comprehensive loss	—		(1,289)		(236)		(1,525)
Balance as of September 30, 2022	$	—	$	(1,099)	$	(1,036)	$	(2,135)

	Nine Months Ended September 30, 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	—		(2,019)		(7,832)		(9,851)
Amounts reclassified from AOCI	1,373		—		96		1,469
Total other comprehensive income (loss)	1,373		(2,019)		(7,736)		(8,382)
Balance as of September 30, 2022	$	(36,493)	$	(7,806)	$	(7,718)	$	(52,017)
Attributable to Noncontrolling Interests:
Balance as of December 31, 2021	$	—	$	542	$	—	$	542
Other comprehensive loss	—		(1,641)		(1,036)		(2,677)
Balance as of September 30, 2022	$	—	$	(1,099)	$	(1,036)	$	(2,135)

The changes in AOCI balances by component (after tax) attributable to Tutor Perini Corporation and attributable to noncontrolling interests during the three and nine months ended September 30, 2021 were as follows:

	Three Months Ended September 30, 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 June 30, 2021	$	(43,104)	$	(5,126)	$	1,704	$	(46,526)
Other comprehensive loss before reclassifications	—		(678)		(391)		(1,069)
Amounts reclassified from AOCI	492		—		(57)		435
Total other comprehensive income (loss)	492		(678)		(448)		(634)
Balance as of September 30, 2021	$	(42,612)	$	(5,804)	$	1,256	$	(47,160)
Attributable to Noncontrolling Interests:
Balance as of June 30, 2021	$	—	$	978	$	—	$	978
Other comprehensive loss	—		(447)		—		(447)
Balance as of September 30, 2021	$	—	$	531	$	—	$	531

	Nine Months Ended September 30, 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 loss before reclassifications	—		(482)		(1,218)		(1,700)
Amounts reclassified from AOCI	1,475		—		(194)		1,281
Total other comprehensive income (loss)	1,475		(482)		(1,412)		(419)
Balance as of September 30, 2021	$	(42,612)	$	(5,804)	$	1,256	$	(47,160)
Attributable to Noncontrolling Interests:
Balance as of December 31, 2020	$	—	$	402	$	—	$	402
Other comprehensive income	—		129		—		129
Balance as of September 30, 2021	$	—	$	531	$	—	$	531

The significant items reclassified out of AOCI and the corresponding location and impact on the Condensed Consolidated Statements of Operations during the three and nine months ended September 30, 2022 and 2021 were as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2022		2021		2022		2021
Component of AOCI:
Defined benefit pension plan adjustments(a)	$	639	$	683	$	1,916	$	2,049
Income tax benefit(b)	(181)		(191)		(543)		(574)
Net of tax	$	458	$	492	$	1,373	$	1,475
Unrealized (gain) loss in fair value of investment adjustments(a)	$	79	$	(73)	$	121	$	(246)
Income tax expense (benefit)(b)	(16)		16		(25)		52
Net of tax	$	63	$	(57)	$	96	$	(194)

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

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