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Equity Method Investments and Variable Interest Entities (Tables)

12 Months Ended

Jan. 02, 2026

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:

Dollars in millions			January 2, 2026						January 3, 2025
Balance at beginning of fiscal year			$	192					$	206
Equity in earnings of unconsolidated affiliates			210						107
Distributions of earnings of unconsolidated affiliates (a)			(165)						(202)
Payments from unconsolidated affiliates, net			(9)						(9)
Return of equity method investments, net (b)			(82)						(36)
Foreign currency translation adjustments			4						(2)
Other (c)			(43)						128
Balance at end of fiscal year			$	107					$	192

(a)In the normal course of business, our joint ventures will declare a distribution in the current quarter that is not paid until the subsequent quarter. As such, the distributions declared during the current quarter may not agree to the distributions of earnings from unconsolidated affiliates on our consolidated statements of cash flows. Joint ventures within our STS segment declared a distribution of earnings of $34 million in the fourth quarter of fiscal 2025 that was not received by KBR until fiscal 2026. A joint venture within our STS segment declared a distribution of earnings of $39 million in the fourth quarter of fiscal 2024 that was not received by KBR until fiscal 2025.

(b)During fiscal 2025, we received a return of investment from BRIS of approximately $82 million. On October 6, 2025, our joint venture partner in BRIS sold its ownership interest to a third party. Prior to the closing of this sale, funds were distributed by BRIS during fiscal 2025 to return capital to its owners. Of the funds distributed, KBR received $79 million which has been reflected as a "return of equity method investment, net" within the investing section of our consolidated statements of cash flows. During fiscal 2024, we received a return of investment from JKC of approximately $36 million related to our proportionate share of a tax refund.

(c)During fiscal 2025, Other included a reduction to the net liability position of $43 million related to a joint venture within our STS business segment. During fiscal 2024, Other included the reclassification of the net liability position of $128 million related to joint ventures within our STS business segment.

Schedule of Consolidated Summarized Financial Information

Summarized financial information for all jointly owned operations including VIEs that are accounted for using the equity method of accounting is as follows:

Balance Sheets

Dollars in millions			January 2, 2026						January 3, 2025
Current assets			$	1,624					$	3,142
Noncurrent assets			1,475						1,473
Total assets			$	3,099					$	4,615
Current liabilities			$	1,493					$	3,173
Noncurrent liabilities			1,874						1,628
Total liabilities			$	3,367					$	4,801

Statements of Operations

			Year ended
Dollars in millions			January 2, 2026						January 3, 2025						December 29, 2023
Revenues			$	4,737					$	8,657					$	5,873
Operating income			$	453					$	217					$	264
Net income			$	443					$	221					$	242

The following table summarizes the total assets and total liabilities recorded on our consolidated balance sheets related to our unconsolidated VIEs in which we have a significant variable interest but are not the primary beneficiary.

			January 2, 2026
Dollars in millions			Total Assets						Total Liabilities
Affinity joint venture (U.K. MFTS project)			$	7					$	1
Aspire Defence Limited			$	94					$	9
JKC joint venture (Ichthys LNG project)			$	—					$	81
Plaquemines LNG project			$	—					$	35
			January 3, 2025
Dollars in millions			Total Assets						Total Liabilities
Affinity joint venture (U.K. MFTS project)			$	6					$	1
Aspire Defence Limited			$	84					$	7
JKC joint venture (Ichthys LNG project)			$	—					$	80
Plaquemines LNG project			$	48					$	94

Schedule of Services Provided to Unconsolidated JV's

Amounts included in our consolidated balance sheets related to services we provided to our unconsolidated joint ventures as of January 2, 2026 and January 3, 2025 are as follows:

Dollars in millions			January 2, 2026						January 3, 2025
Accounts receivable, net of allowance for credit losses (a)			$	59					$	96
Contract liabilities (a)			$	41					$	68

(a)Accounts receivable and contract liabilities primarily related to the Aspire Defence Limited joint venture within our MTS business segment and a joint venture within our STS business segment.

Schedule of Significant VIEs

The following is a summary of the significant VIE where we are the primary beneficiary:

			January 2, 2026
Dollars in millions			Total Assets						Total Liabilities
Aspire Defence subcontracting entities (Aspire Defence project)			$	338					$	149
			January 3, 2025
Dollars in millions			Total Assets						Total Liabilities
Aspire Defence subcontracting entities (Aspire Defence project)			$	372					$	197

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