Quarterly Data (Unaudited)

Summarized quarterly financial data for the years ended December 31, 2015 and 2014 is presented in the following table. In the following table, the sum of basic and diluted “Net income (loss) attributable to KBR per share” for the four quarters may differ from the annual amounts due to the required method of computing weighted average number of shares in the respective periods. Additionally, due to the effect of rounding, the sum of the individual quarterly earnings per share amounts may not equal the calculated year earnings per share amount.



(Dollars in millions, except per share amounts)	First			Second			Third			Fourth			Year
2015
Total revenues	$	1,436		$	1,381		$	1,199		$	1,080		$	5,096
Gross profit	70			74			87			94			325
Equity in earnings of unconsolidated affiliates	35			53			35			26			149
Operating income	64			96			75			75			310
Net income	51			68			59			48			226
Net income attributable to noncontrolling interests	(7		)	(6		)	(4		)	(6		)	(23		)
Net income attributable to KBR	44			62			55			42			203
Net income attributable to KBR per share:
Net income attributable to KBR per share—Basic	$	0.30		$	0.43		$	0.38		$	0.29		$	1.40
Net income attributable to KBR per share—Diluted	$	0.30		$	0.43		$	0.38		$	0.29		$	1.40


(Dollars in millions, except per share amounts)	First			Second			Third			Fourth			Year
2014
Total revenues	$	1,633		$	1,659		$	1,657		$	1,417		$	6,366
Gross profit (loss) (a)	39			28			30			(162		)	(65		)
Equity in earnings of unconsolidated affiliates	31			49			38			45			163
Operating income (loss) (b)	10			25			10			(839		)	(794		)
Net income (loss) (c)	(20		)	8			45			(1,231		)	(1,198		)
Net income attributable to noncontrolling interests	(23		)	(16		)	(15		)	(10		)	(64		)
Net income (loss) attributable to KBR	(43		)	(8		)	30			(1,241		)	(1,262		)
Net income (loss) attributable to KBR per share:
Net income (loss) attributable to KBR per share—Basic	$	(0.29	)	$	(0.06	)	$	0.21		$	(8.57	)	$	(8.66	)
Net income (loss) attributable to KBR per share—Diluted	$	(0.29	)	$	(0.06	)	$	0.21		$	(8.57	)	$	(8.66	)


(a)	The losses in gross profit in the fourth quarter of 2014 reflect changes in cost estimates increasing the loss provision by $80 million on two power projects in our Non-strategic Business segment and changes in estimates of $53 million in our E&C business segment. See Note 2 to our consolidated financial statements.


(b)	Included in the operating loss of the fourth quarter of 2014 is a goodwill impairment charge of $446 million as well as asset impairment and restructuring charges of $214 million. See Notes 8 and 9 for our discussion on these charges.


(c)	Net loss for the fourth quarter of 2014 includes $391 million of provision for income taxes primarily from an increase in our valuation allowance on deferred tax assets.