Equity Method Investments And Variable Interest Entities (Tables)

3 Months Ended

Mar. 31, 2015

Equity Method Investments and Joint Ventures [Abstract]

Amounts included in our condensed consolidated balance sheets related to services we provided to our unconsolidated joint ventures as of March 31, 2015 and December 31, 2014 are as follows:



	March 31,		December 31,
Dollars in millions	2015		2014
Accounts receivable, net of allowance for doubtful accounts	$	4	$	7
Costs and estimated earnings in excess of billings on uncompleted contracts	$	2	$	2
Billings in excess of costs and estimated earnings on uncompleted contracts	$	32	$	21

Equity In Earnings of Unconsolidated Affiliates [Table Text Block]

The following table presents a rollforward of our equity in and advances to unconsolidated affiliates:



	March 31,			December 31,
Dollars in millions	2015			2014
Beginning balance	$	151		$	156
Equity in earnings of unconsolidated affiliates	35			163
Distribution of earnings of unconsolidated affiliates	(37		)	(249		)
Advances	(6		)	(13		)
Foreign currency translation adjustments	(6		)	(1		)
Other	1			—
Balance before reclassification	$	138		$	56
Reclassification of excess distribution	9			102
Recognition of excess distributions	(3		)	(7		)
Ending balance	$	144		$	151

Consolidated Summarized Financial Information

The following summarizes the total assets and total liabilities as reflected in our condensed consolidated balances sheets as well as our maximum exposure to losses related to our unconsolidated VIEs in which we have a significant variable interest but are not the primary beneficiary. Generally, our maximum exposure to loss is limited to our equity investment in the joint venture and any amounts payable to us for services we provided to the joint venture reduced for any unearned revenues on the projects.



	March 31, 2015
Dollars in millions	Total assets		Total liabilities		Maximum exposure to loss
Aspire Defence project	$	16	$	121	$	16
Ichthys Liquefied Natural Gas project	$	49	$	42	$	49
U.K. Road projects	$	33	$	11	$	33
EBIC Ammonia project	$	40	$	2	$	25



Dollars in millions	December 31, 2014
Dollars in millions	Total assets		Total liabilities
Aspire Defence project	$	17	$	118
Ichthys Liquefied Natural Gas project	$	49	$	35
U.K. Road projects	$	34	$	11
EBIC Ammonia project	$	42	$	2

Schedule Of Variable Interest Entities

The following is a summary of the significant VIEs where we are the primary beneficiary:



Dollars in millions	March 31, 2015
Dollars in millions	Total assets		Total liabilities
Gorgon LNG project	$	212	$	236
Escravos Gas-to-Liquids project	$	14	$	30
Fasttrax Limited project	$	82	$	79



Dollars in millions	December 31, 2014
Dollars in millions	Total assets		Total liabilities
Gorgon LNG project	$	282	$	309
Escravos Gas-to-Liquids project	$	23	$	36
Fasttrax Limited project	$	83	$	81

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

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