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  "documentTitle": "Fluor Corporation (FLR)",
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  "notes": "The calculation is presented as a simple arithmetic bridge: Market Cap * Ownership = Value.",
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      "text": "Post-Tax Market Value of Fluor's Stake: ~$4 Billion",
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      "text": "Fluor's 39% Ownership",
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      "text": "NuScale Market Capitalization: $13 Billion",
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      "text": "market value of stake: ~$4 Billion",
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      "text": "Fluor owns ~39% of NuScale Power Corporation (\"NuScale\" or \"SMR\"), a leading maker of next generation small modular nuclear reactors, a key technology necessary to power the global infrastructure and data center boom.",
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      "text": "Source: Public company filings, company websites, Capital IQ. Market data as of October 17, 2025. (1) Calculated as NuScale's closing share price of $44.25 multiplied by Fluor's ownership of 111.4mm shares minus $1,035mm in taxes (assuming a 21% tax rate) offset by approximately $75mm of deferred tax attributes.",
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      "text": "Fluor Has a 39% Minority Stake in NuScale, a Publicly Traded Small Modular Nuclear Reactor Company",
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