| 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, 2026 and 2025 were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, 2026 | | Three Months Ended March 31, 2025 | | (in thousands) | Before-Tax Amount | Tax (Expense) Benefit | Net-of-Tax Amount | | Before-Tax Amount | Tax Expense | Net-of-Tax Amount | Other comprehensive income (loss): | | | | | | | | | Defined benefit pension plan adjustments | $ | 431 | | $ | (118) | | $ | 313 | | | $ | 413 | | $ | (111) | | $ | 302 | | | Foreign currency translation adjustments | (577) | | 81 | | (496) | | | 787 | | (118) | | 669 | | Unrealized gain (loss) in fair value of investments | (2,567) | | 519 | | (2,048) | | | 1,644 | | (339) | | 1,305 | | | Total other comprehensive income (loss) | (2,713) | | 482 | | (2,231) | | | 2,844 | | (568) | | 2,276 | | | Less: Other comprehensive income (loss) attributable to noncontrolling interests | (442) | | — | | (442) | | | 478 | | — | | 478 | | Total other comprehensive income (loss) attributable to Tutor Perini Corporation | $ | (2,271) | | $ | 482 | | $ | (1,789) | | | $ | 2,366 | | $ | (568) | | $ | 1,798 | |
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| 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, 2026 and 2025 were as follows: | | | | | | | | | | | | | | | | Three Months Ended March 31, 2026 | | (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, 2025 | $ | (22,063) | | $ | (7,930) | | $ | 759 | | $ | (29,234) | | Other comprehensive loss before reclassifications | — | | (220) | | (1,869) | | (2,089) | | | Amounts reclassified from AOCI | 313 | | — | | (13) | | 300 | | Total other comprehensive income (loss) | 313 | | (220) | | (1,882) | | (1,789) | | | Balance as of March 31, 2026 | $ | (21,750) | | $ | (8,150) | | $ | (1,123) | | $ | (31,023) | | | Attributable to Noncontrolling Interests: | | | | | | Balance as of December 31, 2025 | $ | — | | $ | (1,151) | | $ | 208 | | $ | (943) | | Other comprehensive loss | — | | (276) | | (166) | | (442) | | | Balance as of March 31, 2026 | $ | — | | $ | (1,427) | | $ | 42 | | $ | (1,385) | |
| | | | | | | | | | | | | | | | Three Months Ended March 31, 2025 | | (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, 2024 | $ | (23,572) | | $ | (8,657) | | $ | (1,759) | | $ | (33,988) | | | Other comprehensive income before reclassifications | — | | 313 | | 1,201 | | 1,514 | | | Amounts reclassified from AOCI | 302 | | — | | (18) | | 284 | | | Total other comprehensive income | 302 | | 313 | | 1,183 | | 1,798 | | | Balance as of March 31, 2025 | $ | (23,270) | | $ | (8,344) | | $ | (576) | | $ | (32,190) | | | Attributable to Noncontrolling Interests: | | | | | | Balance as of December 31, 2024 | $ | — | | $ | (2,423) | | $ | (60) | | $ | (2,483) | | | Other comprehensive income | — | | 356 | | 122 | | 478 | | | Balance as of March 31, 2025 | $ | — | | $ | (2,067) | | $ | 62 | | $ | (2,005) | |
The significant items reclassified out of AOCI and the corresponding location and impact on the Condensed Consolidated Statements of Income during the three months ended March 31, 2026 and 2025 were as follows: | | | | | | | | | | | | | Three Months Ended
March 31, | | | | (in thousands) | 2026 | 2025 | | | | | Component of AOCI: | | | | | | Defined benefit pension plan adjustments(a) | $ | 431 | | $ | 413 | | | | | Income tax benefit(b) | (118) | | (111) | | | | | | Net of tax | $ | 313 | | $ | 302 | | | | | | | | | | | Unrealized gain in fair value of investment adjustments(a) | $ | (17) | | $ | (23) | | | | | Income tax expense(b) | 4 | | 5 | | | | | | Net of tax | $ | (13) | | $ | (18) | | | | |
___________________________________________________________________________________________________ (a)Amounts included in other income, net on the Condensed Consolidated Statements of Income. (b)Amounts included in income tax expense on the Condensed Consolidated Statements of Income.
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