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Retirement Benefits (Tables) | 12 Months Ended
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Jan. 02, 2026
Retirement Benefits [Abstract] |
Schedule of Change in Projected Benefit Obligations | Plan assets, expenses and obligations for our defined benefit pension plans are presented in the following tables.
| Overfunded |  | Underfunded
| United States |  | International |  | United States |  | International
Dollars in millions | Fiscal 2025
Change in projected benefit obligations: |  |  |  |  |  |  |
Projected benefit obligations at beginning of period | $ | 47 |  |  | $ | 1,111 |  |  | $ | 8 |  |  | $ | 4 |
Service cost | — |  |  | 1 |  |  | — |  |  | — |
Interest cost | 2 |  |  | 63 |  |  | 1 |  |  | — |
Foreign currency exchange rate changes | — |  |  | 84 |  |  | — |  |  | — |
Actuarial (gain) loss(1) | 1 |  |  | (12) |  |  | — |  |  | — |
Benefits paid | (4) |  |  | (70) |  |  | (1) |  |  | — |
Other | — |  |  | (1) |  |  | — |  |  | — |
Projected benefit obligations at end of period | $ | 46 |  |  | $ | 1,176 |  |  | $ | 8 |  |  | $ | 4 |
Change in plan assets: |  |  |  |  |  |  |
Fair value of plan assets at beginning of period | $ | 46 |  |  | $ | 1,193 |  |  | $ | 8 |  |  | $ | — |
Actual return on plan assets | 6 |  |  | 48 |  |  | 1 |  |  | — |
Employer contributions | 2 |  |  | 1 |  |  | — |  |  | — |
Foreign currency exchange rate changes | — |  |  | 91 |  |  | — |  |  | — |
Benefits paid | (4) |  |  | (70) |  |  | (1) |  |  | — |
Other | (1) |  |  | (1) |  |  | — |  |  | — |
Fair value of plan assets at end of period | $ | 49 |  |  | $ | 1,262 |  |  | $ | 8 |  |  | $ | — |
Funded status | $ | 3 |  |  | $ | 86 |  |  | $ | — |  |  | $ | (4) |
(1) Actuarial (gains) losses primarily driven by inflation.
| Overfunded |  | Underfunded
| United States |  | International |  | United States |  | International
Dollars in millions | Fiscal 2024
Change in projected benefit obligations: |  |  |  |  |  |  |
Projected benefit obligations at beginning of period | $ | — |  |  | $ | 1,301 |  |  | $ | 58 |  |  | $ | 4 |
Service cost | — |  |  | 1 |  |  | — |  |  | — |
Interest cost | — |  |  | 61 |  |  | 3 |  |  | — |
Foreign currency exchange rate changes | — |  |  | (23) |  |  | — |  |  | — |
Actuarial gain(1) | — |  |  | (162) |  |  | (1) |  |  | — |
Benefits paid | — |  |  | (67) |  |  | (5) |  |  | — |
Projected benefit obligations at end of period | $ | — |  |  | $ | 1,111 |  |  | $ | 55 |  |  | $ | 4 |
Change in plan assets: |  |  |  |  |  |  |
Fair value of plan assets at beginning of period | $ | — |  |  | $ | 1,295 |  |  | $ | 53 |  |  | $ | — |
Actual return on plan assets | — |  |  | (72) |  |  | 5 |  |  | — |
Employer contributions | — |  |  | 61 |  |  | 1 |  |  | — |
Foreign currency exchange rate changes | — |  |  | (24) |  |  | — |  |  | — |
Benefits paid | — |  |  | (67) |  |  | (5) |  |  | — |
Fair value of plan assets at end of period | $ | — |  |  | $ | 1,193 |  |  | $ | 54 |  |  | $ | — |
Funded status | $ | — |  |  | $ | 82 |  |  | $ | (1) |  |  | $ | (4) |
(1) Actuarial gains primarily driven by change in discount rates.
Schedule of Amounts Recognized on Consolidated Balance Sheet |
| United States |  | International |  | United States |  | International
Dollars in millions | Fiscal 2025 |  | Fiscal 2024
Amounts recognized on the consolidated balance sheets |  |  |  |  |  |  |
Pension assets | $ | 3 |  |  | $ | 86 |  |  | $ | — |  |  | $ | 82 |
Other liabilities | $ | — |  |  | $ | (4) |  |  | $ | (1) |  |  | $ | (4) |
Schedule of Components of Net Periodic Benefit Cost | Net periodic pension cost for our defined benefit plans included the following components:
| United States |  | International |  | United States |  | International |  | United States |  | International
Dollars in millions | Fiscal 2025 |  | Fiscal 2024 |  | Fiscal 2023
Components of net periodic benefit cost |  |  |  |  |  |  |  |  |  |  |
Service cost | $ | — |  |  | $ | 1 |  |  | $ | — |  |  | $ | 1 |  |  | $ | — |  |  | $ | 1 |
Interest cost | 3 |  |  | 63 |  |  | 3 |  |  | 61 |  |  | 3 |  |  | 61 |
Expected return on plan assets | (3) |  |  | (112) |  |  | (3) |  |  | (113) |  |  | (3) |  |  | (102) |
Prior service cost amortization | — |  |  | 1 |  |  | — |  |  | 1 |  |  | — |  |  | 1 |
Recognized actuarial loss | 1 |  |  | 4 |  |  | 1 |  |  | 3 |  |  | 1 |  |  | — |
Net periodic (benefit) cost | $ | 1 |  |  | $ | (43) |  |  | $ | 1 |  |  | $ | (47) |  |  | $ | 1 |  |  | $ | (39) |
Schedule of Accumulated Other Comprehensive Loss | The amounts in accumulated other comprehensive loss that have not yet been recognized as components of net periodic benefit cost at January 2, 2026 and January 3, 2025, net of tax were as follows:
| United States |  | International |  | United States |  | International
Dollars in millions | Fiscal 2025 |  | Fiscal 2024
Unrecognized actuarial loss, net of tax of $6 and $238, $6 and $226, respectively | $ | 10 |  |  | $ | 678 |  |  | $ | 12 |  |  | $ | 643 |
Total in accumulated other comprehensive loss | $ | 10 |  |  | $ | 678 |  |  | $ | 12 |  |  | $ | 643 |
Schedule of Weighted-Average Assumptions | The weighted-average assumptions used to determine net periodic benefit cost were as follows:
| United States |  | International |  | United States |  | International |  | United States |  | International
| Fiscal 2025 |  | Fiscal 2024 |  | Fiscal 2023
Discount rate | 5.32 | % |  | 5.54 | % |  | 4.70 | % |  | 4.79 | % |  | 4.91 | % |  | 5.00 | %
Expected return on plan assets | 6.64 | % |  | 6.80 | % |  | 6.64 | % |  | 6.70 | % |  | 6.63 | % |  | 5.92 | %
The weighted-average assumptions used to determine benefit obligations at the measurement date were as follows:
| United States |  | International |  | United States |  | International
| Fiscal 2025 |  | Fiscal 2024
Discount rate | 4.97 | % |  | 5.60 | % |  | 5.32 | % |  | 5.54 | %
Schedule of Allocation of Plan Assets | The target asset allocation for our U.S. and International plans for fiscal 2026 is as follows:
| Fiscal 2026 Targeted
| United States |  | International
Equity funds and securities | 52 | % |  | 37 | %
Fixed income funds and securities | 39 | % |  | 46 | %
Real estate funds | 1 | % |  | 7 | %
Other | 8 | % |  | 10 | %
Total | 100 | % |  | 100 | %
The range of targeted asset allocations for our International plans for fiscal 2026 and fiscal 2025, by asset class, are as follows:
International Plans | Fiscal 2026 Targeted Percentage Range |  | Fiscal 2025 Targeted Percentage Range
| Minimum |  | Maximum |  | Minimum |  | Maximum
Equity funds and securities | 29 | % |  | 45 | % |  | 36 | % |  | 55 | %
Fixed income funds and securities | 37 | % |  | 55 | % |  | 28 | % |  | 42 | %
Real estate funds | 6 | % |  | 8 | % |  | 6 | % |  | 10 | %
Other | 8 | % |  | 12 | % |  | 10 | % |  | 15 | %
The range of targeted asset allocations for our U.S. plans for fiscal 2026 and fiscal 2025, by asset class, are as follows:
Domestic Plans | Fiscal 2026 Targeted Percentage Range |  | Fiscal 2025 Targeted Percentage Range
| Minimum |  | Maximum |  | Minimum |  | Maximum
Equity funds and securities | 41 | % |  | 62 | % |  | 41 | % |  | 62 | %
Fixed income funds and securities | 31 | % |  | 47 | % |  | 31 | % |  | 47 | %
Real estate funds | 1 | % |  | 1 | % |  | 1 | % |  | 1 | %
Other | 7 | % |  | 10 | % |  | 7 | % |  | 10 | %
A summary of total investments for KBR’s defined benefit pension plan assets measured at fair value is presented below.
| Fair Value Measurements at Reporting Date |  |
Dollars in millions | Total |  | Level 1 |  | Level 2 |  | Level 3 |  |
Asset Category at January 2, 2026 |  |  |  |  |  |  |  |  |
United States plan assets |  |  |  |  |  |  |  |  |
Investments measured at net asset value (a) | $ | 57 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  |
Total United States plan assets | $ | 57 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  |
International plan assets |  |  |  |  |  |  |  |  |
Equities | $ | 413 |  |  | $ | — |  |  | $ | 356 |  |  | $ | 57 |  |  |
Fixed income | 606 |  |  | — |  |  | 606 |  |  | — |  |  |
Real estate | 2 |  |  | — |  |  | — |  |  | 2 |  |  |
Cash and cash equivalents | 99 |  |  | 99 |  |  | — |  |  | — |  |  |
Other | 56 |  |  | — |  |  | — |  |  | 56 |  |  |
Investments measured at net asset value (a) | 86 |  |  | — |  |  | — |  |  | — |  |  |
Total international plan assets | $ | 1,262 |  |  | $ | 99 |  |  | $ | 962 |  |  | $ | 115 |  |  |
Total plan assets at January 2, 2026 | $ | 1,319 |  |  | $ | 99 |  |  | $ | 962 |  |  | $ | 115 |  |  |
| Fair Value Measurements at Reporting Date |  |
Dollars in millions | Total |  | Level 1 |  | Level 2 |  | Level 3 |  |
Asset Category at January 3, 2025 |  |  |  |  |  |  |  |  |
United States plan assets |  |  |  |  |  |  |  |  |
Investments measured at net asset value (a) | $ | 54 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  |
Total United States plan assets | $ | 54 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  |
International plan assets |  |  |  |  |  |  |  |  |
Equities | $ | 433 |  |  | $ | — |  |  | $ | 379 |  |  | $ | 54 |  |  |
Fixed income | 564 |  |  | — |  |  | 564 |  |  | — |  |  |
Real estate | 1 |  |  | — |  |  | — |  |  | 1 |  |  |
Cash and cash equivalents | 39 |  |  | 39 |  |  | — |  |  | — |  |  |
Other | 56 |  |  | — |  |  | — |  |  | 56 |  |  |
Investments measured at net asset value (a) | 100 |  |  | — |  |  | — |  |  | — |  |  |
Total international plan assets | $ | 1,193 |  |  | $ | 39 |  |  | $ | 943 |  |  | $ | 111 |  |  |
Total plan assets at January 3, 2025 | $ | 1,247 |  |  | $ | 39 |  |  | $ | 943 |  |  | $ | 111 |  |  |
(a) Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the consolidated balance sheet.
Schedule of Fair Value Measurement of Plan Assets | The fair value measurement of plan assets using significant unobservable inputs (Level 3) changed each year due to the following:
Dollars in millions | Total |  | Equities |  | Fixed Income |  | Real Estate |  | Other
International plan assets |  |  |  |  |  |  |  |  |
Balance as of December 29, 2023 | $ | 114 |  |  | $ | 51 |  |  | $ | — |  |  | $ | 1 |  |  | $ | 62 |
Return on assets held at end of year | 6 |  |  | 8 |  |  | — |  |  | — |  |  | (2) |
Purchases, sales and settlements, net | (7) |  |  | (4) |  |  | — |  |  | — |  |  | (3) |
Foreign exchange impact | (2) |  |  | (1) |  |  | — |  |  | — |  |  | (1) |
Balance as of January 3, 2025 | $ | 111 |  |  | $ | 54 |  |  | $ | — |  |  | $ | 1 |  |  | $ | 56 |
Return on assets held at end of year | (6) |  |  | 2 |  |  | 1 |  |  | — |  |  | (9) |
Return on assets sold during the year | — |  |  | (1) |  |  | (1) |  |  | — |  |  | 2 |
Purchases, sales and settlements, net | 1 |  |  | (2) |  |  | — |  |  | — |  |  | 3 |
Foreign exchange impact | 9 |  |  | 4 |  |  | — |  |  | 1 |  |  | 4 |
Balance as of January 2, 2026 | $ | 115 |  |  | $ | 57 |  |  | $ | — |  |  | $ | 2 |  |  | $ | 56 |
Schedule of Expected Benefit Payments | Benefit payments. The following table presents the expected benefit payments over the next 10 years.
| Pension Benefits
Dollars in millions | United States |  | International
Fiscal 2026 | $ | 6 |  |  | $ | 73 |
Fiscal 2027 | $ | 5 |  |  | $ | 75 |
Fiscal 2028 | $ | 5 |  |  | $ | 78 |
Fiscal 2029 | $ | 5 |  |  | $ | 80 |
Fiscal 2030 | $ | 5 |  |  | $ | 81 |
Fiscals 2031-2035 | $ | 20 |  |  | $ | 417 |

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