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Acquisitions (Tables)

12 Months Ended

Dec. 31, 2021

Business Combination and Asset Acquisition [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the consideration paid for this acquisition and the fair value of assets and liabilities assumed as of the acquisition date as follows:

Dollars in millions			Frazer-Nash
Fair value of total consideration paid			$	392
Recognized amounts of identifiable assets acquired and liabilities assumed:
Cash and equivalents			7
Accounts receivable			33
Other current assets			5
Total current assets			45
Property, plant, and equipment, net			6
Operating lease right-of-use assets			6
Intangible assets, net			89
Total assets			146
Accounts payable			13
Other current liabilities			6
Total current liabilities			19
Deferred income taxes			21
Operating lease liabilities			6
Total liabilities			46
Net assets acquired			100
Goodwill			$	292

The following table summarizes the consideration paid for this acquisition and the fair value of assets and liabilities assumed as of the acquisition date as follows:

Dollars in millions			Centauri
Fair value of total consideration paid			$	830
Recognized amounts of identifiable assets acquired and liabilities assumed:
Cash and equivalents			7
Accounts receivable			78
Contract assets			19
Other current assets			1
Total current assets			105
Property, plant, and equipment, net			18
Operating lease right-of-use assets			36
Intangible assets, net			226
Other assets			1
Total assets			386
Accounts payable			29
Contract liabilities			2
Accrued salaries, wages and benefits			39
Operating lease liabilities			6
Total current liabilities			76
Deferred income taxes			19
Operating lease liabilities			30
Other liabilities			7
Total liabilities			132
Net assets acquired			254
Goodwill			$	576

Schedule of Intangible Assets and the Related Weighted-Average Useful Live

The following table summarizes the fair value of intangible assets and the related weighted-average useful lives:

Dollars in millions			Fair Value						Weighted Average Amortization Period (in years)
Backlog			$	10					1
Customer relationships			79						16
Total intangible assets			$	89					14

The following table summarizes the fair value of intangible assets and the related weighted-average useful lives:

Dollars in millions			Fair Value						Weighted Average Amortization Period (in years)
Funded backlog			$	28					1
Customer relationships			198						15
Total intangible assets			$	226					13

Schedule of Pro Forma Information

The following unaudited supplemental pro forma results of operations have been prepared from historical financial statements that have been adjusted to give effect to the acquisition of Frazer-Nash and Centauri as though they had been acquired on January 1, 2020 and January 1, 2019, respectively. Pro forma adjustments were primarily related to the amortization of intangibles, interest on borrowings related to the acquisitions, significant nonrecurring transactions and acquisition related transaction costs. Accordingly, this supplemental pro forma financial information is presented for informational purposes only and is not necessarily indicative of what the actual results of operations of the combined company would have been had the acquisitions occurred on January 1, 2020 and January 1, 2019, nor is it indicative of future results of operations.

			Year Ended December 31,
Dollars in millions			2021						2020						2019
			(Unaudited)
Revenue			$	7,465					$	6,317					$	6,137
Net income attributable to KBR			$	28					$	(64)					$	172
Diluted earnings per share			$	0.19					$	(0.45)					$	1.20

X

- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(2)
-URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(3)
-URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

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- Definition

Tabular disclosure of finite-lived intangible assets acquired as part of a business combination or through an asset purchase, by major class and in total, including the value of the asset acquired, any significant residual value (the expected value of the asset at the end of its useful life) and the weighted-average amortization period.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275

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- Definition

Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=123413009&loc=d3e4845-128472

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