For the year ending 2025-12-31, FLR had -$694M decrease in cash & cash equivalents over the period. -$437M in free cash flow.
| Cash Flow | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Net earnings (loss) | -62 | 2,084 | 79 | 73 |
| Impairment | - | - | 0 | -24 |
| Equity method earnings, net of taxes | 302 | 2,105 | - | - |
| Impairment expense - disc ops | - | - | - | 0 |
| Impairment | - | 0 | - | - |
| Gain on pension settlement | - | 0 | 0 | -42 |
| Depreciation and amortization | 68 | 73 | 74 | 73 |
| (earnings) loss from equity method investments, net of distributions | - | - | 9 | 15 |
| (gain) loss on sales of assets | 7 | 14 | -150 | 35 |
| (gain) loss on debt repurchases | - | - | - | 0 |
| Stock-based compensation | 30 | 31 | 48 | 19 |
| Deferred taxes | -511 | 418 | -13 | 17 |
| Net contributions to employee pension plans | - | - | - | -2 |
| Changes in assets and liabilities | -402 | -347 | 114 | 46 |
| Other | 5 | 6 | 3 | -13 |
| Operating cash flow | -387 | 828 | 212 | 31 |
| Gain on the fair value of the forward sale contract of nuscale shares | 605 | - | - | - |
| Purchases of marketable securities | 146 | 205 | 426 | 428 |
| Proceeds from sales and maturities of marketable securities | 221 | 145 | 285 | 364 |
| Capital expenditures | 50 | 164 | 106 | 75 |
| Nuscale cash deconsolidated | 0 | 131 | - | - |
| Proceeds from sales of assets incl. ameco-north america | - | - | - | 95 |
| Proceeds from sales of assets (net of cash divested) | 63 | 82 | -5 | - |
| Investments in partnerships and joint ventures | 278 | 93 | 33 | 53 |
| Return of capital from partnerships and joint ventures | 22 | 34 | - | - |
| Other | 0 | - | -8 | -19 |
| Investing cash flow | 437 | -333 | -277 | -78 |
| Repurchase of common stock | 754 | 125 | - | - |
| Proceeds from issuance of 2029 notes, net of issuance costs | 0 | 0 | 560 | - |
| Capped call transactions related to 2029 notes | 0 | 0 | 73 | - |
| Purchases and retirement of debt | 37 | 57 | 249 | - |
| Proceeds from nuscale de-spac transaction | - | 0 | 0 | 341 |
| Proceeds from nuscale share issuance (net of issuance fees) | 0 | 80 | 0 | 107 |
| Proceeds from issuance of cps | - | - | 0 | 0 |
| Purchases and retirement of debt | - | - | - | 41 |
| Debt extinguishment costs | - | - | - | 0 |
| Dividends paid on cps | 0 | 0 | 29 | 39 |
| Other borrowings (debt repayments) | - | - | - | -4 |
| Make-whole payment on conversion of cps | 0 | 0 | 27 | - |
| Distributions paid to nci | 64 | 14 | 53 | 60 |
| Capital contributions by nci | 65 | 0 | 10 | 21 |
| Other | -7 | 0 | -12 | -10 |
| Financing cash flow | -797 | -116 | 127 | 315 |
| Effect of exchange rate changes on cash | 53 | -69 | 18 | -38 |
| Increase (decrease) in cash and cash equivalents | -694 | 310 | 80 | 230 |
| Cash and cash equivalents at beginning of period | 2,829 | 2,519 | 2,439 | 2,209 |
| Cash and cash equivalents at end of period | 2,135 | 2,829 | 2,519 | 2,439 |
FLUOR CORP (FLR)
FLUOR CORP (FLR)