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Pension and Postretirement Plans (Tables) | 12 Months Ended
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Dec. 31, 2015
Defined Benefit Plan Disclosure [Line Items] |
Schedule of Obligations under the deferred compensation plan | The following table presents our obligations under our employee deferred compensation plan included in "employee compensation and benefits" in our consolidated balance sheets.
| December 31,
Dollars in millions | 2015 |  | 2014
Deferred compensation plans obligations | $ | 70 |  |  | $ | 71 |
Pension Benefits [Member] |
Defined Benefit Plan Disclosure [Line Items] |
Schedule Of Changes In Projected Benefit Obligations | Plan assets, expenses and obligations for retirement plans are presented in the following tables.
| United States |  | Int’l |  | United States |  | Int’l
Dollars in millions | 2015 |  | 2014
Change in projected benefit obligations: |  |  |  |  |  |  |
Projected benefit obligations at beginning of period | $ | 87 |  |  | $ | 2,138 |  |  | $ | 79 |  |  | $ | 2,048 |
Service cost | — |  |  | 2 |  |  | — |  |  | 2 |
Interest cost | 2 |  |  | 76 |  |  | 3 |  |  | 90 |
Foreign currency exchange rate changes | (3 | ) |  | (174 | ) |  | — |  |  | (123 | )
Actuarial (gain) loss | — |  |  | (112 | ) |  | 11 |  |  | 191 |
Other | — |  |  | — |  |  | — |  |  | (4 | )
Benefits paid | (11 | ) |  | (81 | ) |  | (6 | ) |  | (66 | )
Projected benefit obligations at end of period | $ | 75 |  |  | $ | 1,849 |  |  | $ | 87 |  |  | $ | 2,138 |
Change in plan assets: |  |  |  |  |  |  |
Fair value of plan assets at beginning of period | $ | 66 |  |  | $ | 1,652 |  |  | $ | 70 |  |  | $ | 1,580 |
Actual return on plan assets | (1 | ) |  | 8 |  |  | — |  |  | 194 |
Employer contributions | 5 |  |  | 43 |  |  | 2 |  |  | 46 |
Foreign currency exchange rate changes | — |  |  | (90 | ) |  | — |  |  | (98 | )
Benefits paid | (11 | ) |  | (81 | ) |  | (6 | ) |  | (66 | )
Other | — |  |  | — |  |  | — |  |  | (4 | )
Fair value of plan assets at end of period | $ | 59 |  |  | $ | 1,532 |  |  | $ | 66 |  |  | $ | 1,652 |
Funded status | $ | (16 | ) |  | $ | (317 | ) |  | $ | (21 | ) |  | $ | (486 | )
Schedule Of Amounts Recognized On Consolidated Balance Sheet |
| United States |  | Int’l |  | United States |  | Int’l
Dollars in millions | 2015 |  | 2014
Amounts recognized on the consolidated balance sheets |  |  |  |  |  |  |
Other current liabilities (a) | $ | — |  |  | $ | — |  |  | $ | (5 | ) |  | $ | — |
Pension obligations | (16 | ) |  | (317 | ) |  | (16 | ) |  | (486 | )
Total | $ | (16 | ) |  | $ | (317 | ) |  | $ | (21 | ) |  | $ | (486 | )
(a) | In 2015, we made a $5 million contribution to fund settlement of our terminated U.S. pension plan.
Components Of Net Periodic Benefit Cost | Net periodic cost
| United States |  | Int’l |  | United States |  | Int’l |  | United States |  | Int’l
Dollars in millions | 2015 |  | 2014 |  | 2013
Components of net periodic benefit cost |  |  |  |  |  |  |  |  |  |  |
Service cost | $ | — |  |  | $ | 2 |  |  | $ | — |  |  | $ | 2 |  |  | $ | — |  |  | $ | 2 |
Interest cost | 2 |  |  | 76 |  |  | 3 |  |  | 90 |  |  | 3 |  |  | 79 |
Expected return on plan assets | (3 | ) |  | (97 | ) |  | (4 | ) |  | (102 | ) |  | (5 | ) |  | (86 | )
Settlements/curtailments | — |  |  | — |  |  | 1 |  |  | — |  |  | 2 |  |  | — |
Recognized actuarial loss | 5 |  |  | 43 |  |  | 3 |  |  | 39 |  |  | 2 |  |  | 33 |
Net periodic benefit cost | $ | 4 |  |  | $ | 24 |  |  | $ | 3 |  |  | $ | 29 |  |  | $ | 2 |  |  | $ | 28 |
Schedule Of Amounts In Accumulated Other Comprehensive Income (Loss) |
| United States |  | Int’l |  | United States |  | Int’l |  | United States |  | Int’l
Dollars in millions | 2015 |  | 2014 |  | 2013
Components of net periodic benefit cost |  |  |  |  |  |  |  |  |  |  |
Service cost | $ | — |  |  | $ | 2 |  |  | $ | — |  |  | $ | 2 |  |  | $ | — |  |  | $ | 2 |
Interest cost | 2 |  |  | 76 |  |  | 3 |  |  | 90 |  |  | 3 |  |  | 79 |
Expected return on plan assets | (3 | ) |  | (97 | ) |  | (4 | ) |  | (102 | ) |  | (5 | ) |  | (86 | )
Settlements/curtailments | — |  |  | — |  |  | 1 |  |  | — |  |  | 2 |  |  | — |
Recognized actuarial loss | 5 |  |  | 43 |  |  | 3 |  |  | 39 |  |  | 2 |  |  | 33 |
Net periodic benefit cost | $ | 4 |  |  | $ | 24 |  |  | $ | 3 |  |  | $ | 29 |  |  | $ | 2 |  |  | $ | 28 |
The amounts in accumulated other comprehensive loss that have not yet been recognized as components of net periodic benefit cost at December 31, 2015, net of tax were as follows:
| United States |  | Int’l |  | United States |  | Int’l
Dollars in millions | 2015 |  | 2014
Unrecognized actuarial loss, net of tax of $11 and $198, and $9 and $222, respectively | $ | 25 |  |  | $ | 535 |  |  | $ | 31 |  |  | $ | 639 |
Total in accumulated other comprehensive loss | $ | 25 |  |  | $ | 535 |  |  | $ | 31 |  |  | $ | 639 |
Schedule Of Amounts In Accumulated Other Comprehensive Income To Be Amortized Into Net Periodic Benefit Cost In 2014 | Estimated amounts that will be amortized from accumulated other comprehensive income, net of tax, into net periodic benefit cost in 2016 are as follows:
Dollars in millions | United States |  | International
Actuarial loss | $ | 1 |  |  | $ | 24 |
Total | $ | 1 |  |  | $ | 24 |
Schedule Of Weighted-Average Assumptions |
Weighted-average assumptions used to determine net periodic benefit cost |
| United States |  | Int'l |  | United States |  | Int'l |  | United States |  | Int'l
| 2015 |  | 2014 |  | 2013
Discount rate | 2.89 | % |  | 3.65 | % |  | 3.38 | % |  | 4.45 | % |  | 3.09 | % |  | 4.50 | %
Expected return on plan assets | 4.81 | % |  | 6.25 | % |  | 5.28 | % |  | 6.45 | % |  | 7.00 | % |  | 6.15 | %
Weighted-average assumptions used to determine benefit obligations at measurement date |
| United States |  | Int'l |  | United States |  | Int'l
| 2015 |  | 2014
Discount rate | 3.42 | % |  | 3.75 | % |  | 2.89 | % |  | 3.65 | %
Schedule Of Allocation Of Plan Assets | The target asset allocation for our U.S. and International plans for 2016 is as follows:
Asset Allocation | 2016 Targeted
| United States |  | Int'l
Cash and cash equivalents | 19 | % |  | — | %
Equity funds and securities | 49 | % |  | 20 | %
Fixed income funds and securities | 32 | % |  | 37 | %
Hedge funds | — | % |  | 22 | %
Real estate funds | — | % |  | 5 | %
Other | — | % |  | 16 | %
Total | 100 | % |  | 100 | %
A summary of total investments for KBR’s pension plan assets measured at fair value is presented below.
| Fair Value Measurements at Reporting Date
Dollars in millions | Total |  | Level 1 |  | Level 2 |  | Level 3
Asset Category at December 31, 2015 |  |  |  |  |  |  |
United States plan assets |  |  |  |  |  |  |
Investments measured at net asset value (a) | $ | 59 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Total United States plan assets | $ | 59 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
International plan assets |  |  |  |  |  |  |
Equities | 66 |  |  | 54 |  |  | — |  |  | 12 |
Fixed income | 14 |  |  | — |  |  | — |  |  | 14 |
Real estate | 6 |  |  | — |  |  | — |  |  | 6 |
Cash and cash equivalents | 10 |  |  | 10 |  |  | — |  |  | — |
Other | 13 |  |  | — |  |  | — |  |  | 13 |
Investments measured at net asset value (a) | 1,423 |  |  | — |  |  | — |  |  | — |
Total international plan assets | $ | 1,532 |  |  | $ | 64 |  |  | $ | — |  |  | $ | 45 |
Total plan assets at December 31, 2015 | $ | 1,591 |  |  | $ | 64 |  |  | $ | — |  |  | $ | 45 |
| Fair Value Measurements at Reporting Date
Dollars in millions | Total |  | Level 1 |  | Level 2 |  | Level 3
Asset Category at December 31, 2014 |  |  |  |  |  |  |
United States plan assets |  |  |  |  |  |  |
Investments measured at net asset value (a) | $ | 66 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Total United States plan assets | $ | 66 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
International plan assets |  |  |  |  |  |  |
Equities | 61 |  |  | 53 |  |  | 2 |  |  | 6 |
Fixed income | 11 |  |  | — |  |  | — |  |  | 11 |
Real estate | 12 |  |  | — |  |  | — |  |  | 12 |
Cash and cash equivalents | 9 |  |  | 9 |  |  | — |  |  | — |
Other | 13 |  |  | — |  |  | — |  |  | 13 |
Investments measured at net asset value (a) | 1,546 |  |  | — |  |  | — |  |  | — |
Total international plan assets | $ | 1,652 |  |  | $ | 62 |  |  | $ | 2 |  |  | $ | 42 |
Total plan assets at December 31, 2014 | $ | 1,718 |  |  | $ | 62 |  |  | $ | 2 |  |  | $ | 42 |
Schedule Of Expected Benefit Payments | Benefit payments. The following table presents the expected benefit payments over the next 10 years.
| Pension Benefits
Dollars in millions | United States |  | Int’l
2016 | $ | 15 |  |  | $ | 79 |
2017 | $ | 4 |  |  | $ | 81 |
2018 | $ | 4 |  |  | $ | 83 |
2019 | $ | 4 |  |  | $ | 85 |
2020 | $ | 4 |  |  | $ | 87 |
Years 2021 – 2025 | $ | 22 |  |  | $ | 471 |
United States Pension Benefits [Member] |
Defined Benefit Plan Disclosure [Line Items] |
Schedule Of Allocation Of Plan Assets | The range of targeted asset allocations for our U.S. plans for 2016 and 2015, by asset class, are as follows:
Domestic Plans | 2016 Targeted |  | 2015 Targeted
| Percentage Range |  | Percentage Range
| Minimum |  | Maximum |  | Minimum |  | Maximum
Cash and cash equivalents | 19 | % |  | 19 | % |  | 22 | % |  | 22 | %
Equity funds, securities and other | 49 | % |  | 49 | % |  | 47 | % |  | 47 | %
Fixed income funds and securities | 32 | % |  | 32 | % |  | 31 | % |  | 31 | %
International Pension Benefits [Member] |
Defined Benefit Plan Disclosure [Line Items] |
Schedule Of Allocation Of Plan Assets | The range of targeted asset allocations for our International plans for 2016 and 2015, by asset class, are as follows:
International Plans | 2016 Targeted |  | 2015 Targeted
| Percentage Range |  | Percentage Range
| Minimum |  | Maximum |  | Minimum |  | Maximum
Equity funds and securities | — | % |  | 60 | % |  | — | % |  | 51 | %
Fixed income funds and securities | — | % |  | 100 | % |  | — | % |  | 100 | %
Hedge funds | — | % |  | 35 | % |  | — | % |  | 20 | %
Real estate funds | — | % |  | 10 | % |  | — | % |  | 10 | %
Other | — | % |  | 20 | % |  | — | % |  | 35 | %
Schedule Of Fair Value Measurement Of Plan Assets Using Significant Unobservable Inputs | The fair value measurement of plan assets using significant unobservable inputs (Level 3) changed each year due to the following: Level 3 fair value measurement rollforward
Dollars in millions | Total |  | Equities |  | Fixed Income |  | Real Estate |  | Other
International plan assets |  |  |  |  |  |  |  |  |
Balance as of December 31, 2013 | $ | 24 |  |  | $ | 1 |  |  | $ | 6 |  |  | $ | 5 |  |  | $ | 12 |
Return on assets held at end of year | 5 |  |  | — |  |  | (1 | ) |  | 4 |  |  | 2 |
Return on assets sold during the year | — |  |  | — |  |  | — |  |  | — |  |  | — |
Purchases, sales and settlements | 15 |  |  | 5 |  |  | 7 |  |  | 3 |  |  | — |
Foreign exchange impact | (2 | ) |  | — |  |  | (1 | ) |  | — |  |  | (1 | )
Balance as of December 31, 2014 | $ | 42 |  |  | $ | 6 |  |  | $ | 11 |  |  | $ | 12 |  |  | $ | 13 |
Return on assets held at end of year | 2 |  |  | 1 |  |  | — |  |  | (2 | ) |  | 3 |
Return on assets sold during the year | 5 |  |  | — |  |  | — |  |  | 5 |  |  | — |
Purchases, sales and settlements, net | (1 | ) |  | 5 |  |  | 4 |  |  | (8 | ) |  | (2 | )
Foreign exchange impact | (3 | ) |  | — |  |  | (1 | ) |  | (1 | ) |  | (1 | )
Balance as of December 31, 2015 | $ | 45 |  |  | $ | 12 |  |  | $ | 14 |  |  | $ | 6 |  |  | $ | 13 |

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