FLUOR CORP Earnings Per Share Disclosure
| Year Ended December 31, | |||||||||||
| (in millions, except per share amounts) | 2025 | 2024 | 2023 | ||||||||
Net earnings (loss) attributable to Fluor | $ | (51) | $ | 2,145 | $ | 139 | |||||
| Less: Dividends on CPS | — | — | 29 | ||||||||
Less: Make-whole payment on conversion of CPS | — | — | 27 | ||||||||
Net earnings (loss) available to Fluor common stockholders | $ | (51) | $ | 2,145 | $ | 83 | |||||
| Weighted average common shares outstanding | 164 | 172 | 150 | ||||||||
| Dilutive effect: | |||||||||||
Performance-based award units, RSUs and stock options | — | 2 | 3 | ||||||||
Convertible debt (1) | — | — | — | ||||||||
| Weighted average diluted shares outstanding | 164 | 174 | 153 | ||||||||
Basic EPS available to Fluor common stockholders | $ | (0.31) | $ | 12.48 | $ | 0.55 | |||||
Diluted EPS available to Fluor common stockholders | $ | (0.31) | $ | 12.30 | $ | 0.54 | |||||
| Anti-dilutive securities not included in shares outstanding: | |||||||||||
CPS | — | — | 20 | ||||||||
Performance-based award units, RSUs and stock options | 3 | 1 | 2 | ||||||||
Stock delivered under capped call options (2) | — | — | — | ||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 17, 2026 | Showing above |
| 2024 | Feb 18, 2025 | |
| 2023 | Feb 20, 2024 | |
| 2022 | Feb 21, 2023 | |
| 2021 | Feb 22, 2022 | |
| 2020 | Feb 26, 2021 | |
| 2019 | Sep 25, 2020 | |
| 2018 | Feb 21, 2019 | |
| 2017 | Feb 20, 2018 | |
| 2016 | Feb 17, 2017 | |
| 2015 | Feb 18, 2016 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.