XML 56 R41.htm IDEA: XBRL DOCUMENT
v3.3.1.900

Equity Method Investments And Variable Interest Entities (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2015
Equity Method Investments and Joint Ventures [Abstract] |
Schedule of Related Party Transactions [Table Text Block] | Amounts included in our consolidated balance sheets related to services we provided to our unconsolidated joint ventures for the years ended December 31, 2015 and 2014 are as follows:
| December 31,
Dollars in millions | 2015 |  | 2014
Accounts receivable, net of allowance for doubtful accounts | $ | 7 |  |  | $ | 7 |
Costs and estimated earnings in excess of billings on uncompleted contracts | $ | 5 |  |  | $ | 2 |
Billings in excess of costs and estimated earnings on uncompleted contracts | $ | 55 |  |  | $ | 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:
Dollars in millions | 2015 |  | 2014
Beginning balance | $ | 151 |  |  | $ | 156 |
Equity in earnings of unconsolidated affiliates | 149 |  |  | 163 |
Distributions of earnings of unconsolidated affiliates (a) | (92 | ) |  | (249 | )
Advances | (10 | ) |  | (13 | )
Investments (b) | 80 |  |  | — |
Foreign currency translation adjustments | (9 | ) |  | (1 | )
Other | 1 |  |  | — |
Balance before reclassification | 270 |  |  | 56 |
Reclassification of excess distributions (a) | 16 |  |  | 102 |
Recognition of excess distributions (a) | (5 | ) |  | (7 | )
Ending balance | $ | 281 |  |  | $ | 151 |
(a) | During 2014, we received cash dividends of $102 million in excess of the carrying value of one of our investments. We have no obligation to return any portion of the cash dividends received. We recorded the excess dividend amount as "deferred income from unconsolidated affiliates" on our consolidated balance sheets and will recognize these dividends as earnings are generated by the investment. We recognized $7 million of the excess dividends during 2014. During 2015, we received an additional $16 million of cash dividends in excess of the carrying value of our investment and recognized $5 million of excess dividends. We do not consider these dividends as a return of our investment.
(b) | Investments include a $58 million investment in the Brown & Root Industrial Services joint venture and a $24 million investment in EPIC Piping LLC ("EPIC"), offset by prior quarter dispositions of a joint venture related to the Building Group. See below for further discussion related to joint venture formations and investments.
Consolidated Summarized Financial Information | Summarized financial information for all jointly owned operations including VIEs that are accounted for using the equity method of accounting is as follows: Balance Sheets
| December 31,
Dollars in millions | 2015 |  | 2014
Current assets | $ | 2,331 |  |  | $ | 3,098 |
Noncurrent assets | 3,435 |  |  | 4,069 |
Total assets | $ | 5,766 |  |  | $ | 7,167 |
Current liabilities | $ | 1,501 |  |  | $ | 2,969 |
Noncurrent liabilities | 3,742 |  |  | 4,090 |
Total liabilities | $ | 5,243 |  |  | $ | 7,059 |
Statements of Operations
| Years ended December 31,
Dollars in millions | 2015 |  | 2014 |  | 2013
Revenues | $ | 3,717 |  |  | $ | 6,439 |  |  | $ | 4,800 |
Operating income | $ | 635 |  |  | $ | 659 |  |  | $ | 660 |
Net income | $ | 476 |  |  | $ | 419 |  |  | $ | 355 |
Unconsolidated Variable Interest Entities The following summarizes the total assets and total liabilities as reflected in our consolidated balance 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.
| December 31, 2015
Dollars in millions | Total assets |  | Total liabilities |  | Maximum exposure to loss
Aspire Defence project | $ | 17 |  |  | $ | 121 |  |  | $ | 17 |
Ichthys LNG project | $ | 87 |  |  | $ | 63 |  |  | $ | 87 |
U.K. Road projects | $ | 34 |  |  | $ | 11 |  |  | $ | 34 |
EBIC Ammonia plant (65% interest) | $ | 36 |  |  | $ | 2 |  |  | $ | 22 |
Dollars in millions | December 31, 2014
Total assets |  | Total liabilities |  | Maximum exposure to loss
Aspire Defence project | $ | 17 |  |  | $ | 118 |  |  | $ | 17 |
Ichthys LNG project | $ | 49 |  |  | $ | 35 |  |  | $ | 49 |
U.K. Road projects | $ | 34 |  |  | $ | 11 |  |  | $ | 34 |
EBIC Ammonia plant (65% interest) | $ | 42 |  |  | $ | 2 |  |  | $ | 26 |
Schedule Of Variable Interest Entities | The following is a summary of the significant VIEs where we are the primary beneficiary:
Dollars in millions | December 31, 2015
Total assets |  | Total liabilities
Gorgon LNG project | $ | 117 |  |  | $ | 145 |
Escravos Gas-to-Liquids project | $ | 16 |  |  | $ | 33 |
Fasttrax Limited project | $ | 74 |  |  | $ | 70 |
Dollars in millions | December 31, 2014
Total assets |  | Total liabilities
Gorgon LNG project | $ | 282 |  |  | $ | 309 |
Escravos Gas-to-Liquids project | $ | 23 |  |  | $ | 36 |
Fasttrax Limited project | $ | 83 |  |  | $ | 81 |

X
- Definition [Table Text Block] for Equity In Earnings of Unconsolidated Affiliates [Table] + References No definition available. + Details
Name: | kbr_EquityInEarningsofUnconsolidatedAffiliatesTableTextBlock
Namespace Prefix: | kbr_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6382943&loc=d3e33918-111571 + Details
Name: | us-gaap_EquityMethodInvestmentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of related party transactions. Examples of related party transactions include, but are not limited to, transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners and (d) affiliates. + References No definition available. + Details
Name: | us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=52262685&loc=d3e5747-111685 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=52262685&loc=SL6228884-111685 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=52262685&loc=d3e5728-111685 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Variable Interest Entity -URI http://asc.fasb.org/extlink&oid=6528138 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 5A -URI http://asc.fasb.org/extlink&oid=52262685&loc=SL6759159-111685 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=52262685&loc=d3e5710-111685 + Details
Name: | us-gaap_ScheduleOfVariableInterestEntitiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration