福陆 2025年度报告

☒ANNUAL REPORT PURSUANT TO SECTION13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF1934 or FLUOR CORPORATION (Exact name of registrant as specified in its charter) Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule405 of the Securities Act.YesNo Indicate by check mark if the registrant is not required tofile reports pursuant to Section13 or Section15(d) of the Exchange Act.YesNo Indicate by check mark whether the registrant (1)hasfiled all reports required to befiled by Section13 or 15(d) of the Exchange Act during the preceding12months (or for such shorter period that the registrant was required tofile such reports), and (2)has been subject to suchfiling requirements for the past90days.YesNo Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule405 ofRegulationS-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit suchfiles).YesNo Indicate by check mark whether the registrant is a large acceleratedfiler, an acceleratedfiler, a non-acceleratedfiler, a smaller reporting company or an emerginggrowth company. See the definitions of "large acceleratedfiler," "acceleratedfiler," "smaller reporting company" and "emerging growth company" in Rule12b-2 ofthe Exchange Act. Large acceleratedfilerAcceleratedfilerNon-acceleratedfilerSmallerreportingcompany☐Emerginggrowthcompany☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new orrevisedfinancial accounting standards provided pursuant to Section13(a) of the Exchange Act. Indicate by check mark whether the registrant hasfiled a report on and attestation to its management's assessment of the effectiveness of its internal control overfinancial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accountingfirm that prepared or issued its auditreport.☑ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether thefinancial statements of the registrant included in thefilingreflect the correction of an error to previously issuedfinancial statements. Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by anyof the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). As of June30, 2025, the aggregate market value of the registrant's common stock held by non-affiliates of the registrant was approximately $8.2 billion based onthe closing sale price as reported on the New York Stock Exchange.As of January 31, 2026, 146,564,673 shares of the registrant’s common stock, $0.01par value per share, were outstanding. DOCUMENTS INCORPORATED BY REFERENCE Portions of the Proxy Statement for the 2026 Annual Meeting of Stockholders are incorporated by reference into Part III of this Form 10-K. FLUOR CORPORATION INDEX TO ANNUAL REPORT ON FORM 10-K For the Fiscal Year Ended December31, 2025 Glossary of TermsForward-Looking InformationPART IItem1.BusinessItem1A.Risk FactorsItem1B.Unresolved StaffCommentsItem 1C.CybersecurityItem2.PropertiesItem3.Legal ProceedingsItem4.Mine Safety DisclosuresPART IIItem5.Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity SecuritiesItem6.[Reserved]Item7.Management's Discussion and Analysis of Financial Condition and Results of OperationsItem7A.Quantitative and Qualitative Disclosures About Market RiskItem8.Financial Statements and Supplementary DataItem9.Changes in and Disagreements with Accountants on Accounting and Financial DisclosureItem9A.Controls and ProceduresItem9B.Other InformationItem9C.Disclosure Regarding Foreign Jurisdictions that Prevent InspectionsPART IIIItem10.Directors, Executive Officers and Corporate GovernanceItem11.Executive CompensationItem12.Security Ownership of Certain Beneficial Owners and Management and Related Stockholder MattersItem13.Certain Relationships and Related Transactions, and Director IndependenceItem14.Principal Accountant Fees and ServicesPART IVItem15.Exhibits and Financial Statement SchedulesItem16.Form10-K SummarySignatures Glossary of Terms Forward-Looking Information From time to time, we make certain comments and disclosures in reports and statements, including this 202510-K, or statements aremade by our officers or directors, that, while based on reasonable assumptions, may be forward-looking in nature. Under the Private SecuritiesLitigation Reform Act of 1995, a "safe harbor" may be provided to us for certain of these forward-looking statements. We caution readers thatforward-looking statements, including disclosures which use words such as "will," "may," "could," "should," "believes," "anticipates," "