XML 48 R36.htm IDEA: XBRL DOCUMENT
v3.21.2

Equity Method Investments and Variable Interest Entities (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2021
Equity Method Investments and Joint Ventures [Abstract] |
Schedule of equity in earnings of unconsolidated affiliates | The following table presents a rollforward of our equity in and advances to unconsolidated affiliates:
| Six Months Ended June 30, |  | Year Ended December 31,
| 2021 |  | 2020
Dollars in millions |  |  |
Beginning balance at January 1, | $ | 881 |  |  | $ | 846 |
Equity in earnings (losses) of unconsolidated affiliates | (174) |  |  | 30 |
Distributions of earnings of unconsolidated affiliates | (26) |  |  | (38) |
Advances to (payments from) unconsolidated affiliates, net | (10) |  |  | (15) |
Investments (a) | 7 |  |  | 26 |
Impairment of equity method investments (b) | — |  |  | (19) |
Foreign currency translation adjustments | (23) |  |  | 50 |
Other | 7 |  |  | 1 |
Ending balance | $ | 662 |  |  | $ | 881 |
(a)Investments include $7 million and $24 million in funding contributions to JKC for the six months ended June 30, 2021, and the year ended December 31, 2020, respectively. (b)During the year ended December 31, 2020, we recognized an impairment of $13 million associated with our investment in a joint venture project located in the Middle East, and a $6 million impairment related to other equity method investments.
Schedule of consolidated summarized financial information | The following summarizes the total assets and total liabilities as reflected in our condensed consolidated balance sheets related to our unconsolidated VIEs in which we have a significant variable interest but are not the primary beneficiary.
| June 30, 2021
Dollars in millions | Total Assets |  | Total Liabilities |  |
Affinity joint venture (U.K. MFTS project) | $ | 10 |  |  | $ | 9 |  |  |
Aspire Defence Limited | $ | 68 |  |  | $ | 5 |  |  |
JKC joint venture (Ichthys LNG project) | $ | 375 |  |  | $ | 6 |  |  |
U.K. Roads project joint ventures | $ | 54 |  |  | $ | — |  |  |
Middle East Petroleum Corporation (EBIC ammonia project) | $ | 38 |  |  | $ | 1 |  |  |
| December 31, 2020
Dollars in millions | Total Assets |  | Total Liabilities |  |
Affinity joint venture (U.K. MFTS project) | $ | 11 |  |  | $ | 9 |  |  |
Aspire Defence Limited | $ | 68 |  |  | $ | 5 |  |  |
JKC joint venture (Ichthys LNG project) | $ | 606 |  |  | $ | 44 |  |  |
U.K. Roads project joint ventures | $ | 59 |  |  | $ | — |  |  |
Middle East Petroleum Corporation (EBIC ammonia project) | $ | 31 |  |  | $ | 1 |  |  |
Schedule of services provided to unconsolidated JV's | Amounts included in our condensed consolidated balance sheets related to services we provided to our unconsolidated joint ventures as of June 30, 2021, and December 31, 2020 are as follows:
| June 30, |  | December 31,
Dollars in millions | 2021 |  | 2020
Accounts receivable, net of allowance for credit losses | $ | 53 |  |  | $ | 83 |
Contract assets (a) | $ | 1 |  |  | $ | 2 |
Contract liabilities (a) | $ | 11 |  |  | $ | 53 |
(a)Reflects contract assets and contract liabilities related to joint ventures within our GS and STS business segments.
Summary of the significant VIEs | The following is a summary of the significant VIEs where we are the primary beneficiary:
Dollars in millions | June 30, 2021
Total Assets |  | Total Liabilities
Fasttrax Limited (Fasttrax project) | $ | 30 |  |  | $ | 3 |
Aspire Defence subcontracting entities (Aspire Defence project) | $ | 447 |  |  | $ | 214 |
Dollars in millions | December 31, 2020
Total Assets |  | Total Liabilities
Fasttrax Limited (Fasttrax project) | $ | 45 |  |  | $ | 18 |
Aspire Defence subcontracting entities (Aspire Defence project) | $ | 448 |  |  | $ | 205 |

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: | dtr-types: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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571 + Details
Name: | us-gaap_EquityMethodInvestmentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types: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: | dtr-types: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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 5A -URI http://asc.fasb.org/extlink&oid=123419778&loc=SL6759159-111685 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=123419778&loc=d3e5747-111685 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=123419778&loc=SL6228884-111685 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=123419778&loc=d3e5710-111685 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=123419778&loc=d3e5728-111685 + Details
Name: | us-gaap_ScheduleOfVariableInterestEntitiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration