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Share Repurchases

6 Months Ended

Jun. 30, 2021

Equity [Abstract]

Share Repurchases

Share Repurchases

Authorized Share Repurchase Program

        On February 25, 2014, our Board of Directors authorized a plan to repurchase up to $350 million of our outstanding shares of common stock, which replaced and terminated the August 26, 2011 share repurchase program. As of December 31, 2019, $160 million remained available under this authorization. On February 19, 2020, our Board of Directors authorized an increase of approximately $190 million to our share repurchase program, returning the authorization level to $350 million. As of June 30, 2021, $275 million remains available for repurchase under this authorization. The authorization does not obligate the Company to acquire any particular number of shares of common stock and may be commenced, suspended or discontinued without prior notice. The share repurchases are intended to be funded through the Company's current and future cash flows and the authorization does not have an expiration date.

Withheld to Cover Program

We have in place a "withheld to cover" program, which allows us to withhold common shares from employees in connection with the settlement of income tax and related benefit withholding obligations arising from the issuance of share-based equity awards under the KBR, Inc. 2006 Stock and Incentive Plan.

The table below presents information on our share repurchases activity under this program:

			Three Months Ended																		Six Months Ended
			June 30, 2021																		June 30, 2021
			Number of Shares						Average Price per Share						Dollars in Millions						Number of Shares						Average Price per Share						Dollars in Millions
Repurchases under the $350 million authorized share repurchase program			681,284						$	40.89					$	28					681,284						$	40.89					$	28
Withheld to cover shares			11,873						$	40.97					—						141,249						$	31.90					$	4
Total			693,157						$	40.89					$	28					822,533						$	39.35					$	32
			Three Months Ended																		Six Months Ended
			June 30, 2020																		June 30, 2020
			Number of Shares						Average Price per Share						Dollars in Millions						Number of Shares						Average Price per Share						Dollars in Millions
Repurchases under the $350 million authorized share repurchase program			—						$	—					$	—					—						$	—					$	—
Withheld to cover shares			11,008						$	22.79					—						160,132						$	25.74					$	4
Total			11,008						$	22.79					$	—					160,132						$	25.74					$	4

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- References

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- Definition

The entire disclosure for treasury stock, including, but not limited to, average cost per share, description of share repurchase program, shares repurchased, shares held for each class of treasury stock.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 30
-URI http://asc.fasb.org/subtopic&trid=2208821

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