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Ensuring Proper Financial Controls & Transparency

“Clear accounting makes good friends.”

SPANISH PROVERB

    Accurate, Full and Fair Disclosure

    As a publicly traded company, Fluor’s financial results must comply with generally accepted accounting principles and always be accurate, complete, fair, timely and understandable.

    The accuracy of our financial reports depends on every employee properly recording information such as time charges, change orders, project estimates, sales, expenses, costs, bills, payroll, and regulatory data. As an employee, you must properly verify that any financial information for which you are responsible is accurate, complete and timely.

    Because many projects take months or years to complete, our company uses trained financial estimators to determine how much revenue and profit can be recognized for reporting financial results. These estimates depend on the accuracy of information provided by project managers and personnel. Managers must take responsibility that adequate resources and oversight are devoted to properly implementing and following financial controls on all projects, at all locations, and at all times.

    PRESSURE TO MEET THE NUMBERS

    At Fluor, while we take job performance extremely seriously, we never let pressure to “meet the numbers” compromise our integrity.

    • Never alter financial or other data to meet targets, to help boost Fluor’s financial figures or stock price, to “save jobs,” to meet incentives or bonus plan targets, or for any other reason not related to actual financial performance.
    • Never delay reporting negative financial results to management until the last minute. All financial information—whether positive or negative—needs to be reported accurately and timely.
    • Never inappropriately hold back reserves, profits or other contingencies when a project is doing well to protect against possible bad numbers at a later time.
    • Never pressure or ask another employee to inappropriately alter, delay or hide financial results or other information.
    Common Questions

      You should first try to explain your concern to your project manager to make sure he or she understands the problem. If this does not resolve the problem, you should report the matter to one of the resources listed in “Getting Help and Reporting Concerns.” Don’t fear retaliation for making a report in good faith.

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      Does your work involve the U.S. Government?

      If your work involves projects in which the U.S. Government or its funds are involved, there are additional guidelines for Time Charging and Unallowable Costs

        Insider Trading is Prohibited

        You may come across inside information about our company, clients or partners through your work with Fluor. Buying or selling the securities of a company while you are aware of inside information about that company is considered “insider trading.” This is illegal, and so is “tipping,” or advising others to buy or sell securities based on inside information.

        “Inside information” is material information that is not available to the public that a reasonable investor would likely consider important in making a decision to buy or sell a security. Remember that even information about events or actions that are not certain to happen, such as the possible new award or signing of a joint venture award, can be considered inside information.

        Examples of inside information may include:

        • Financial information or data such as earnings or forecasts
        • Winning or losing a significant new or existing award
        • Financial liquidity problems
        • Changes in senior management
        • Significant or expected developments in litigation or government investigations
        • Mergers, acquisitions, divestitures or joint ventures
        • Changes in a company’s outside auditor or notification from auditors regarding financial statements

        WHEN CAN I TRADE?

        Once material information has been disclosed publicly to the marketplace through established channels, and the public has had enough time to absorb the information, you may trade in Fluor’s or the related company’s stock. Fluor’s policy allows trading on and after the start of the third business day after material information is disclosed.

        Some Fluor officers and other employees are designated company “insiders” because of their regular access to material inside information. These insiders can only trade during specified trading windows and only with the pre-approval of the Chief Legal Officer.

        Common Questions

          No. You have come across inside information through your work for our company. Insider trading laws prohibit trading the securities of our company or any other company involved on the basis of such inside information. You should check with the Law Department for further guidance.

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            Outside Inquiries and Presentations

            You may have access to information about financial results—Fluor’s and other companies’—on a routine basis that is not available to the public. You must exercise caution not to reveal this information when responding to outside inquiries or giving presentations to outside groups.

            Only designated Fluor spokespersons may speak about our company’s financial status. Fluor’s policy is never to comment on market rumors. If a member of the media or a stock market analyst contacts you for information, you should direct them immediately to the Fluor Corporate Affairs or Investor Relations Departments.

            If your job requires that you make presentations to outside groups, such as at professional conferences and training seminars, you must be particularly cautious. Any presentations that contain nonpublic financial or proprietary information or processes must be approved in advance by the Law Department.

            Common Questions

              Only designated spokespersons may speak about the company’s financial status. Fluor’s policy is never to comment on market rumors. You should politely tell the analyst you are prohibited from speaking about such matters and direct them immediately to the Investor Relations Department.

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              Relevant Policies & Resources

              IMPORTANT NOTICE - DISCLAIMER

              THE FOLLOWING COMPANY POLICIES ARE A GUIDE TO GENERAL EMPLOYMENT PROCEDURES AND POLICIES OF THE COMPANY.  THE POLICIES ARE FOR INFORMATION ONLY, AND IS NOT A CONTRACT OF EMPLOYMENT.  ANY COMPANY PROCEDURE OR POLICY MAY BE MODIFIED, AMENDED, INCREASED, DECREASED, OR DELETED BY THE COMPANY AT ANY TIME, WITH OR WITHOUT NOTICE.

              THESE POLICIES ARE NOT AND IS NOT INTENDED TO ADDRESS EVERY POSSIBLE EMPLOYMENT/EMPLOYEE SITUATION.  THE COMPANY RESERVES THE RIGHT TO TAKE ACTION OR MAKE A DECISION WHICH IS INCONSISTENT WITH THE POLICIES TO ADDRESS UNIQUE SITUATIONS, ON A CASE-BY-CASE BASIS, IN THE COMPANY'S SOLE DISCRETION.

              NEITHER THESE POLICIES NOR ANY OTHER MANUAL, POLICY, OR OTHER DOCUMENT ALTERS, IN ANY WAY, THE AT-WILL EMPLOYMENT STATUS OF THE COMPANY'S EMPLOYEES.  AT-WILL EMPLOYMENT MEANS THAT EITHER YOU OR COMPANY CAN TERMINATE THE EMPLOYMENT RELATIONSHIP AT ANY TIME, FOR ANY OR NO REASON, WITH OR WITHOUT CAUSE, AND WITH OR WITHOUT NOTICE, SUBJECT TO RESTRICTIONS UNDER ANY APPLICABLE LAW.  THE AT-WILL EMPLOYMENT STATUS OF EACH EMPLOYEE CANNOT BE ALTERED BY ANY ORAL STATEMENT OR ALLEGED ORAL AGREEMENT,  IT CAN ONLY BE CHANGED BY A LEGALLY BINDING, WRITTEN CONTRACT COVERING EMPLOYMENT STATUS. 

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              Can't find what you are looking for?

              Our Compliance and Ethics team here at Fluor are here for you. Please reach out if you are unsure or have any questions about our Code of Conduct or your responsibilities as a team member.

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