KBR (KBR) 10-Q 30 Jul 18 2018 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2018	Jul. 12, 2018
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2018
Entity Registrant Name	KBR, Inc.
Entity Central Index Key	1,357,615
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		140,698,716
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Income Statement [Abstract]
Revenues	$ 1,267	$ 1,094	$ 2,305	$ 2,200
Cost of revenues	(1,137)	(986)	(2,094)	(2,010)
Gross profit	130	108	211	190
Equity in earnings of unconsolidated affiliates	10	32	33	41
General and administrative expenses	(41)	(38)	(76)	(70)
Acquisition and integration related costs	(1)	0	(4)	0
Gain on disposition of assets	0	1	0	5
Gain on consolidation of Aspire entities	0	0	115	0
Operating income	98	103	279	166
Interest expense	(17)	(5)	(23)	(10)
Other non-operating (loss) income	(1)	2	(3)	(5)
Income before income taxes and noncontrolling interests	80	100	253	151
Provision for income taxes	18	(21)	(52)	(34)
Net income	62	79	201	117
Net income attributable to noncontrolling interests	20	(2)	(21)	(3)
Net income attributable to KBR	$ 42	$ 77	$ 180	$ 114
Net income attributable to KBR per share:
Basic (usd per share)	$ 0.30	$ 0.54	$ 1.28	$ 0.80
Diluted (usd per share)	$ 0.30	$ 0.54	$ 1.27	$ 0.80
Basic weighted average common shares outstanding (shares)	140	141	140	142
Diluted weighted average common shares outstanding (shares)	141	141	141	142
Cash dividends declared per share (usd per share)	$ 0.08	$ 0.08	$ 0.16	$ 0.16

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Statement of Comprehensive Income [Abstract]
Net income	$ 62	$ 79	$ 201	$ 117
Foreign currency translation adjustments:
Foreign currency translation adjustments, net of tax	(26)	(9)	(28)	5
Reclassification adjustment included in net income	0	0	5	0
Foreign currency translation adjustments, net of taxes of $(2), $1, $(3) and $5	(26)	(9)	(23)	5
Pension and post-retirement benefits, net of tax:
Actuarial losses, net of tax	0	0	0	0
Reclassification adjustment included in net income	7	7	13	13
Pension and post-retirement benefits, net of taxes of $(1), $(2), $(2) and $(3)	7	7	13	13
Changes in fair value of derivatives:
Changes in fair value of derivatives, net of tax	(4)	0	(4)	0
Reclassification adjustment included in net income	0	0	0	0
Changes in fair value of derivatives, net of taxes of $0, $0, $0 and $0	(4)	0	(4)	0
Other comprehensive (loss) income, net of tax	(23)	(2)	(14)	18
Comprehensive income	39	77	187	135
Less: Comprehensive income attributable to noncontrolling interests	(20)	0	(21)	(1)
Comprehensive income attributable to KBR	$ 19	$ 77	$ 166	$ 134

Condensed Consolidated Stateme4

Condensed Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Statement of Comprehensive Income [Abstract]
Foreign currency translation, tax	$ (2)	$ 1	$ (3)	$ 5
Pension and post-retirement benefits, tax	(1)	(2)	(2)	(3)
Changes in fair value of derivatives, tax	$ 0	$ 0	$ 0	$ 0

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Current assets:
Cash and equivalents	$ 519	$ 439
Accounts receivable, net of allowance for doubtful accounts of $13 and $12	779	510
Contract assets	248	383
Other current assets	117	93
Total current assets	1,663	1,425
Claims and accounts receivable	104	101
Property, plant, and equipment, net of accumulated depreciation of $355 and $329 (including net PPE of $40 and $34 owned by a variable interest entity)	133	130
Goodwill	1,271	968
Intangible assets, net of accumulated amortization of $137 and $122	544	239
Equity in and advances to unconsolidated affiliates	622	387
Deferred income taxes	215	300
Other assets	158	124
Total assets	4,710	3,674
Current liabilities:
Accounts payable	445	350
Contract liabilities	465	368
Accrued salaries, wages and benefits	216	186
Nonrecourse project debt	10	10
Other current liabilities	161	157
Total current liabilities	1,297	1,071
Pension obligations	349	391
Employee compensation and benefits	104	118
Income tax payable	85	85
Deferred income taxes	17	18
Nonrecourse project debt	22	28
Revolving credit agreement	115	470
Long term debt	928	0
Deferred income from unconsolidated affiliates	0	101
Other liabilities	183	171
Total liabilities	3,100	2,453
KBR shareholders’ equity:
Preferred stock, $0.001 par value, 50,000,000 shares authorized, 0 shares issued and outstanding	0	0
Common stock, $0.001 par value 300,000,000 shares authorized,177,257,918 and 176,638,882 shares issued, and 140,696,510 and 140,166,589 shares outstanding	0	0
Paid-in capital in excess of par (PIC)	2,171	2,091
Accumulated other comprehensive loss	(935)	(921)
Retained earnings	1,179	877
Treasury stock, 36,561,408 shares and 36,472,293 shares, at cost	(819)	(818)
Total KBR shareholders’ equity	1,596	1,229
Noncontrolling interests	14	(8)
Total shareholders’ equity	1,610	1,221
Total liabilities and shareholders’ equity	$ 4,710	$ 3,674

Condensed Consolidated Balance6

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Receivables:
Allowance for doubtful accounts	$ 13	$ 12
Property, plant, and equipment:
Accumulated depreciation	355	329
PP&E owned by a VIE, net	40	34
Intangibles:
Accumulated amortization	$ 137	$ 122
KBR shareholders’ equity:
Preferred stock, par value (usd per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (shares)	50,000,000	50,000,000
Preferred stock, shares issued (shares)	0	0
Preferred stock, shares outstanding (shares)	0	0
Common stock, par value (usd per share)	$ 0.001	$ 0.001
Common stock, shares authorized (shares)	300,000,000	300,000,000
Common stock, shares issued (shares)	177,257,918	176,638,882
Common stock, shares outstanding (shares)	140,696,510	140,166,589
Treasury stock, shares (shares)	36,561,408	36,472,293

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Cash flows from operating activities:
Net income	$ 201	$ 117
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	30	27
Equity in earnings of unconsolidated affiliates	(33)	(41)
Deferred income tax expense (benefit)	34	(85)
Gain on consolidation of Aspire entities	(115)	0
Other	6	11
Changes in operating assets and liabilities:
Accounts receivable, net of allowance for doubtful accounts	(70)	70
Contract assets	(38)	41
Claims receivable	0	400
Accounts payable	36	(126)
Contract liabilities	(58)	(167)
Accrued salaries, wages and benefits	4	2
Reserve for loss on uncompleted contracts	(5)	(35)
Payments from unconsolidated affiliates, net	6	5
Distributions of earnings from unconsolidated affiliates	9	30
Income taxes payable	7	(5)
Pension funding	(19)	(18)
Net settlement of derivative contracts	1	1
Other assets and liabilities	(32)	(17)
Total cash flows (used in) provided by operating activities	(36)	210
Cash flows from investing activities:
Purchases of property, plant and equipment	(11)	(6)
Proceeds from sale of assets or investments	1	2
Investments in equity method joint ventures	(162)	0
Acquisition of businesses, net of cash acquired	(357)	2
Increase in cash due to consolidation of Aspire entities	197	0
Other	0	(1)
Total cash flows used in investing activities	(332)	(3)
Cash flows from financing activities:
Payments to reacquire common stock	(3)	(52)
Acquisition of remaining ownership interest in joint ventures	(56)	0
Distributions to noncontrolling interests	0	(1)
Payments of dividends to shareholders	(23)	(23)
Net proceeds from issuance of common stock	1	0
Borrowings on revolving credit agreements	250	0
Borrowings on long term debt	959	0
Payments on revolving credit agreements	(605)	(180)
Payments on short-term and long-term borrowings	(5)	(5)
Debt issuance costs	(46)	0
Total cash flows provided by (used in) financing activities	472	(261)
Effect of exchange rate changes on cash	(24)	9
Increase (decrease) in cash and equivalents	80	(45)
Cash and equivalents at beginning of period	439	536
Cash and equivalents at end of period	519	491
Supplemental disclosure of cash flows information:
Cash paid for interest	18	11
Cash paid for income taxes (net of refunds)	16	125
Noncash financing activities
Dividends declared	$ 11	$ 11

Description of Company And Sign

Description of Company And Significant Accounting Policies	6 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
Description of Company and Significant Accounting Policies	Description of Company and Significant Accounting Policies KBR, Inc., a Delaware corporation, was formed on March 21, 2006 and is headquartered in Houston, Texas. KBR, Inc. and its wholly owned and majority-owned subsidiaries (collectively referred to herein as "KBR", the "Company", "we", "us" or "our") is a global provider of differentiated, professional services and technologies across the asset and program life-cycle within the government services and hydrocarbons industries. Our capabilities include research and development, feasibility and solutions development, specialized technical consulting, systems integration, engineering and design service, process technologies, program management, construction services, commissioning and startup services, highly specialized mission and logistics support solutions, and asset operations and maintenance services and other support services to a diverse customer base, including government and military organizations of the U.S., U.K. and Australia and a wide range of customers across the hydrocarbons value chain. Principles of Consolidation Our condensed consolidated financial statements have been prepared in accordance with U.S. GAAP and include the accounts of KBR and our wholly owned and majority-owned subsidiaries and VIEs of which we are the primary beneficiary. We account for investments over which we have significant influence but not a controlling financial interest using the equity method of accounting. See Note 12 to our condensed consolidated financial statements for further discussion on our equity investments and VIEs. The cost method is used when we do not have the ability to exert significant influence. All material intercompany balances and transactions are eliminated in consolidation. Amounts classified as "Costs and estimated earnings in excess of billings on uncompleted contracts" and "Billings in excess of costs and estimated earnings on uncompleted contracts" on the consolidated balance sheets of our Annual Report on Form 10-K for the year ended December 31, 2017 have been reclassified as "Contract assets" and "Contract liabilities" on the condensed consolidated balance sheets. We have evaluated all events and transactions occurring after the balance sheet date but before the financial statements were issued and have included the appropriate disclosures. Segment Reorganization We changed the name of our Engineering & Construction segment to the "Hydrocarbons Services" segment. This change reflects strategic shifts we have made in this business over recent years to evolve to more recurring and reimbursable engineering, consulting and industrial maintenance services, coupled with our de-emphasis in engaging in fixed price EPC projects except for those that fit within our commercial discipline. Effective January 1, 2018, we changed the structure of our internal organization in a manner that caused our consulting business to be moved from the Technology & Consulting business segment to the Hydrocarbons Services (formerly E&C) business segment. As of January 1, 2018, our segments consist of the following five reportable segments: • Government Services • Technology • Hydrocarbons Services • Non-Strategic Business • Other See Note 3 to our condensed consolidated financial statements for further discussion on our segments. We have presented our segment results reflecting these changes for all periods presented. In conjunction with the change in segments, the Company evaluated its goodwill associated with the technology and consulting reporting units using Level 3 fair value inputs, and no impairment indicators were identified. Use of Estimates The preparation of our condensed consolidated financial statements in conformity with U.S. GAAP requires us to make estimates, assumptions and judgments that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Areas requiring significant estimates and assumptions by our management include but are not limited to the following: • project revenues, costs and profits on engineering and construction contracts, including recognition of estimated losses on uncompleted contracts • project revenues, award fees, costs and profits on government services contracts • provisions for uncollectible receivables • provisions for client claims and recoveries of costs from subcontractors, vendors and others • provisions for income taxes and related valuation allowances and tax uncertainties • recoverability of goodwill • recoverability of other intangibles and long-lived assets and related estimated lives • recoverability of equity method and cost method investments • valuation of pension obligations and pension assets • accruals for estimated liabilities, including litigation accruals • consolidation of VIEs • valuation of share-based compensation • valuation of assets and liabilities acquired in business combinations In accordance with normal practice in the construction industry, we include in current assets and current liabilities certain amounts related to construction contracts realizable and payable over a period in excess of one year. If the underlying estimates and assumptions upon which the financial statements are based change in the future, actual amounts may differ from those included in the accompanying condensed consolidated financial statements. Adoption of New Accounting Standards ASU 2014-09, Revenue from Contracts with Customers , codified as ASC Topic 606. On January 1, 2018, we adopted ASC Topic 606 and the related amendments ("ASC 606") using the modified retrospective method applied to those contracts which were not completed as of December 31, 2017. Results for operating periods beginning after January 1, 2018 are presented under ASC 606, while comparative information has not been restated and continues to be reported in accordance with the accounting standards in effect for those periods. See Note 2 for a description of our accounting policy resulting from adoption of ASC 606. We recognized the cumulative effect of initially applying ASC 606 as an adjustment to retained earnings in the balance sheet as of January 1, 2018 as follows: Balance at Adjustments Due to Balance at Dollars in millions December 31, 2017 ASC 606 January 1, 2018 Assets Accounts receivable $ 510 $ 157 $ 667 Contract assets 383 (191 ) 192 Other current assets 93 5 98 Equity in and advances to unconsolidated affiliates 387 87 474 Deferred income taxes 300 (6 ) 294 Other assets 124 1 125 Liabilities Contract liabilities 368 9 377 Deferred income from unconsolidated affiliates 101 (101 ) — Other liabilities 171 1 172 Equity Retained Earnings 877 144 1,021 The impact of adoption on our consolidated statement of operations, balance sheet and cash flows for the period ended June 30, 2018 was as follows: Three Months Ended June 30, 2018 As Balances Without Effect of Change Dollars in millions Reported Adoption of ASC 606 Higher/(Lower) Statement of Operations Revenues $ 1,267 $ 1,258 $ 9 Income before income taxes and noncontrolling interests 80 71 9 Net income 62 54 8 EPS Basic $ 0.30 $ 0.24 $ 0.06 Diluted $ 0.30 $ 0.24 $ 0.06 Six Months Ended June 30, 2018 As Balances Without Effect of Change Dollars in millions Reported Adoption of ASC 606 Higher/(Lower) Statement of Operations Revenues $ 2,305 $ 2,294 $ 11 Income before income taxes and noncontrolling interests 253 243 10 Net income 201 192 9 EPS Basic $ 1.28 $ 1.21 $ 0.07 Diluted $ 1.27 $ 1.21 $ 0.06 As of June 30, 2018 As Balances Without Effect of Change Dollars in millions Reported Adoption of ASC 606 Higher/(Lower) Assets Accounts receivable $ 779 $ 571 $ 208 Contract assets 248 463 (215 ) Other current assets 117 112 5 Equity in and advances to unconsolidated affiliates 622 617 5 Deferred income taxes 215 222 (7 ) Liabilities Contract liabilities 465 519 (54 ) Deferred income from unconsolidated affiliates — 99 (99 ) Equity Retained earnings 1,179 1,026 153 Accumulated other comprehensive loss (935 ) (931 ) (4 ) Six Months Ended June 30, 2018 As Balances Without Effect of Change Dollars in millions Reported Adoption of ASC 606 Higher/(Lower) Cash flows from operating activities Net income $ 201 $ 192 $ 9 Adjustments to reconcile net income to net cash provided by operating activities: Equity in earnings of unconsolidated affiliates (33 ) (32 ) (1 ) Deferred income tax (benefit) expense 34 33 1 Changes in operating assets and liabilities, net of acquired businesses: Accounts receivable, net of allowances for doubtful accounts (70 ) 138 (208 ) Contract assets (38 ) (254 ) 216 Contract liabilities (58 ) (41 ) (17 ) Total cash flows used in operating activities (36 ) (36 ) — The impacts of adoption were primarily related to: (1) conforming our contracts recorded over time from previously acceptable methods to the cost-to-cost percentage of completion methodology, (2) combining certain deliverables that were previously considered separate deliverables into a single performance obligation as defined by ASC 606, and (3) separating certain contracts that were previously considered one deliverable into multiple performance obligations. The impacts of adoption on our opening balance sheet were primarily related to: reclassification of amounts between "Accounts receivable, net of allowance for doubtful accounts" and "Contract assets" based on whether an unconditional right to consideration has been established or not, and the deferral of costs incurred and payments received to fulfill a contract which were previously recorded in income in the period incurred or received but under the new standard will generally be capitalized and amortized over the period of contract performance. In connection with the consolidation of certain previously unconsolidated VIEs associated with the Aspire Defence project in the first quarter of 2018, we elected to early adopt ASC 606 for each of the Aspire Defence project joint ventures effective January 1, 2018. As a result of the adoption by the Aspire Defence Limited joint ventures, we identified multiple performance obligations associated with the project deliverables that were previously accounted for as a single deliverable under its contract with the MoD. In addition to the above impacts of adoption on revenue and gross margin, the cumulative effect of the adoption by Aspire Defence Limited resulted in sufficient additional income that had been previously recorded as "Deferred income from unconsolidated affiliates" on our condensed consolidated balance sheets in the amount of $101 million which was reversed and included in the cumulative effect adjustment. Also, deferred construction income in the amount of $87 million previously recorded in "Equity in and advance to unconsolidated affiliates" was reversed and included in the cumulative effect adjustment as a result of the early adoption of ASC 606 by the Aspire Defence project joint ventures. Except for the Aspire Defence project joint ventures, we have availed the SEC exemption relating to deferring the application of ASC Topic 606 to our remaining unconsolidated joint ventures until January 1, 2019. Additional Balance Sheet Information Other Current Liabilities The components of "Other current liabilities" on our condensed consolidated balance sheets as of June 30, 2018 and December 31, 2017 are presented below: June 30, December 31, Dollars in millions 2018 2017 Current maturities of long-term debt $ 12 $ — Reserve for estimated losses on uncompleted contracts (a) 10 15 Retainage payable 31 30 Income taxes payable 16 17 Restructuring reserve 6 9 Taxes payable not based on income 8 11 Value-added tax payable 31 13 Insurance payable 4 9 Dividend payable 11 11 Other miscellaneous liabilities 32 42 Total other current liabilities $ 161 $ 157 (a) See Note 3 to our condensed consolidated financial statements for further discussion on significant reserves for estimated losses on uncompleted contracts. Other Liabilities Included in "Other liabilities" on our condensed consolidated balance sheets as of June 30, 2018 and December 31, 2017 is noncurrent deferred rent of $96 million and $99 million , respectively. Also included in "Other liabilities" is a payable to our former parent of $5 million as of June 30, 2018 and December 31, 2017

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Our significant accounting policies are detailed in "Note 1. Description of Company and Significant Accounting Policies" of our Annual Report on Form 10-K for the year ended December 31, 2017. The following section represents revisions to those accounting policies due to the adoption of ASC Topic 606 and the separate presentation of acquisition and integration related costs. Revenue Recognition Revenue is measured based on the amount of consideration specified in a contract with a customer. Revenue is recognized when and as our performance obligations under the terms of the contract are satisfied which generally occurs with the transfer of control of the goods or services to the customer. To determine the proper revenue recognition method for contracts, we evaluate whether two or more contracts should be combined and accounted for as one single contract and whether the combined or single contract should be accounted for as more than one performance obligation. This evaluation requires significant judgment and the decision to combine a group of contracts or separate a combined or single contract into multiple performance obligations could change the amount of revenue and profit recorded in a given period. Contracts are considered to have a single performance obligation if the promise to transfer the individual goods or services is not separately identifiable from other promises in the contracts, which is mainly because we provide a significant service of integrating a complex set of tasks and components into a single project or capability. Contracts that cover multiple phases of the product lifecycle (development, construction and maintenance & support) are typically considered to have multiple performance obligations even when they are part of a single contract. For contracts with multiple performance obligations, we allocate the transaction price to each performance obligation using our best estimate of the standalone selling price of each distinct good or service in the contract. In cases where we do not provide the distinct good or service on a standalone basis, the primary method used to estimate standalone selling price is the expected cost plus a margin approach, under which we forecast our expected costs of satisfying a performance obligation and then add an appropriate margin for that distinct good or service. We provide product warranties to customers that are included in the sale and are not priced or sold separately or do not provide customers with a service in addition to assurance of compliance with agreed-upon specifications. We do not consider these types of warranties to be separate performance obligations. The following is a description of the principal activities from which we generate revenues by reportable segment: Government Services For most of government services, the customer contracts with us to provide support solutions to defense, space, aviation and other programs and missions through long-term service contracts. The performance obligations related to these long-term service contracts are primarily created through the issuance of task orders by the customer because a service contract generally does not meet the criteria to be considered a contract under ASC 606 since it does not obligate the customer to issue any task orders and could be canceled without substantive penalty under termination for convenience clauses. Accordingly, each task order releases us to perform specific portions of the overall scope in the service contract and is typically accounted for as a separate contract because the task order establishes the enforceable rights and obligations, and payment terms. Task orders can include option periods that may be approved by the customer at a later date depending on the customer's future needs and budget availability. Many of our government services contracts include variable consideration consisting of base fees (a profit percentage applied to our target cost) or award fees (additional consideration based on performance criteria, subject to final customer approval). Variable consideration can also arise from modifications to the scope of services resulting in unapproved change orders or customer claims. Variable consideration is included in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur once the uncertainty associated with the variable consideration is resolved. Our estimates of variable consideration and determination of whether to include such amounts in the transaction price are based largely on our assessment of legal enforceability, performance and any other information (historical, current, and forecasted) that is reasonably available to us. Many of our government services contracts are for labor at agreed hourly rates on a cost reimbursable basis to the customer. These contracts are accounted for as a series of distinct services because (a) the labor is provided as a continuous service, (b) each time increment of labor provided is distinct, (c) the nature of the services provided is substantially the same, and (d) the pattern of transfer is the same. In these types of contracts, the entire amount of consideration is recognized as labor is provided. We also enter into base operations support contracts to provide the resources to operate bases, installations, camps, and stations of military departments. Our base operations support contracts are either fixed price contracts or cost reimbursable contracts. For fixed price contracts, we bill the customer a fixed monthly fee and recognize revenue over time on a straight-line basis where our level of effort remains substantially the same from month to month or where that is not the case, using a cost-to-cost input measure of progress as services are provided. For cost reimbursable contracts, we bill the customer all direct costs incurred each month plus an agreed provisional rate for overhead and fee which are finalized at a later date. Revenue for cost reimbursable contracts is recognized as the direct costs are incurred and billed because the base operations represent a series of distinct services and the direct costs are consistent with our level of effort each month. For the purpose of revenue recognition of the variable elements of the contracts, we apply the variable consideration considerations described above. Revenue on our other types of government services contracts is primarily recognized over time using the cost-to-cost input measure (e.g., costs incurred to date relative to total estimated costs at completion) to measure progress because it best depicts the transfer of assets to the customer which occurs as we incur costs on the contracts. Contract costs include actual direct project costs incurred and an allocation of our indirect costs. Under the typical payment terms of our government services contracts, amounts are billed as work progresses in accordance with agreed-upon contractual terms, either at periodic intervals (e.g., biweekly or monthly) or upon achievement of contractual milestones. Hydrocarbons Services For most of our hydrocarbons services projects, the customer contracts with us to provide a significant service of integrating a complex set of tasks and components into a single project or capability and are therefore accounted for as single performance obligations. It is common for our hydrocarbons services contracts to contain incentive fees, performance bonuses, penalties (liquidated damages) or other provisions, including claims and change orders, that may either increase or decrease the transaction price. Incentives and other performance bonuses generally are awarded upon achievement of certain performance metrics, program milestones or cost targets. Liquidated damage penalties in our contracts are generally capped at a percentage of the total contract value. Liquidated damages may be related to schedule delays, (typically calculated based on a daily rate), or tied to performance guarantees. Substantially all of our performance obligations related to hydrocarbons services contracts are satisfied over time as work progresses due to the continuous transfer of control to the customer. Typically, revenue is recognized over time using the cost-to-cost input measure to measure progress because it best depicts the transfer of goods and services to the customer which occurs as we incur costs on our contracts. Contract costs include all direct material and labor costs and those indirect costs related to contract performance. Indirect costs, included in cost of revenues, include charges for such items as facilities, engineering, project management, quality control, bids and proposals and procurement. Under the typical payment terms of our hydrocarbons services contracts, the customer makes advance payments as well as interim payments as work progresses. The advance payment generally is not considered a significant financing component as we normally expect to recognize the advance payments in revenue within a year of receipt as work progresses on the related performance obligation. Technology Our technology contracts consist primarily of licensing, basic engineering design (together, the "LBED"), proprietary equipment ("PEQ") or catalyst contracts. LBED contracts are combined into one performance obligation as they are entered into at the same time and the licensed technology requires engineering and design. We may further combine LBED and PEQ contracts into one performance obligation if the contracts were negotiated as a package with a single commercial objective, and the customer contracts with us to provide a significant service of integrating these distinct goods and services into a single project or capability. It is common for our technology contracts to contain variable consideration including contingent milestone payments and penalties (liquidated damages) that may increase or decrease the transaction price. Contingent milestone payments are primarily related to decisions made by the customer after the LBED has been completed, such as go or no-go decision on the project. Liquidated damage penalties in our technology contracts are typically calculated based on a weekly rate and are capped at a percentage of the total contract value. Substantially all of our performance obligations related to technology contracts are satisfied over time as work progresses. Typically, revenue is recognized over time using the cost-to-cost input measure to measure progress because it best depicts the transfer of assets to the customer which occurs as we incur costs on our contracts. Contract costs include all direct material and labor costs and those indirect costs related to contract performance and are recognized as the performance obligation is satisfied. Under the typical payment terms of our technology contracts, the customer makes advance payments as well as interim payments as work progresses and certain progress milestones are met. The advance payment generally is not considered a significant financing component as we normally expect to recognize the advance payments in revenue within a year of receipt as work progresses on the related performance obligation. Contract Estimates Contract Modifications Due to the nature of the work required to be performed on many of our performance obligations, the estimation of total revenue and cost at completion is complex, subject to many variables and requires significant judgment. As a significant change in one or more of these estimates could affect the profitability of our contracts, we review and update our contract-related estimates regularly through a Company-wide disciplined project review process in which management reviews the progress and execution of our performance obligations and the estimate at completion (EAC). As part of this process, management reviews information including, but not limited to, any outstanding key contract matters, progress towards completion and the related program schedule and the related changes in estimates of revenues and costs. Management must make assumptions and estimates regarding labor productivity and availability, the complexity of the work to be performed, the cost and availability of materials, the performance of subcontractors, and the availability and timing of funding from the customer, among other variables. We recognize adjustments in estimated profit on contracts under the cumulative catch-up method. Under this method, the impact of the adjustment on profit recorded to date is recognized in the period the adjustment is identified. Revenue and profit in future periods of contract performance is recognized using the adjusted estimate. If at any time the estimate of contract profitability indicates an anticipated loss on the contract, we recognize the total loss in the period it is identified. Contracts are often modified to account for changes in contract specifications and requirements. We consider contract modifications to exist when the modification either creates new or changes the existing enforceable rights and obligations. Most of our contract modifications are for goods or services that are not distinct from existing contracts due to the significant integration provided in the context of the contract and are accounted for as if they were part of the original contract. The effect of a contract modification on the transaction price and our measure of progress for the performance obligation to which it relates, is recognized as an adjustment to revenue (either as an increase in or a reduction of revenue) on a cumulative catch-up basis. We account for contract modifications as a separate contract when the modification results in the promise to deliver additional goods or services that are distinct and the increase in price of the contract is for the same amount as the stand-alone selling price of the additional goods or services included in the modification. We estimate variable consideration at the most likely amount to which we expect to be entitled. Any variable consideration is included in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur once the uncertainty associated with the variable consideration is resolved. Our estimates of variable consideration and determination of whether to include such amounts in the transaction price are based largely on our assessment of legal enforceability, performance and any other information (historical, current, and forecasted) that is reasonably available to us. We allocate variable consideration entirely to a performance obligation or to a distinct good or service within a performance obligation if it relates specifically to our efforts to satisfy the performance obligation or transfer the distinct good or service, and the allocation depicts the amount of consideration to which we expect to be entitled. Claims Against Vendors and Subcontractors We include claims to vendors, subcontractors and others as a receivable and a reduction in recognized costs when enforceability of the claim is established by the contract and the amounts are reasonably estimable and probable of being recovered. Reductions in recognized costs are recognized to the extent of the lesser of the amounts management expects to recover or to costs incurred. Accounts receivable Accounts receivable are recorded based on contracted prices when we obtain an unconditional right to payment under the terms of our contracts. We establish an allowance for doubtful accounts based on the assessment of our clients' willingness and ability to pay. In addition to such allowances, there are often items in dispute or being negotiated that may require us to make an estimate as to the ultimate outcome. Past due receivable balances are written off when our internal collection efforts have been unsuccessful in collecting the amounts due. Contract assets and liabilities Billing practices are governed by the contract terms of each project based upon costs incurred, achievement of milestones or pre-agreed schedules. Billings do not necessarily correlate with revenue recognized using the cost-to-cost method of revenue recognition. Contract assets include unbilled amounts typically resulting from revenue under long-term contracts when the cost-to-cost method of revenue recognition is utilized and revenue recognized exceeds the amount billed to the customer, and right to payment is not unconditional. Contract liabilities consist of advance payments and billings in excess of revenue recognized and deferred revenue. Retainage, included in contract assets, represents the amounts withheld from billings by our clients pursuant to provisions in the contracts and may not be paid to us until the completion of specific tasks or the completion of the project and, in some instances, for even longer periods. Retainage may also be subject to restrictive conditions such as performance guarantees. Our contract assets and liabilities are reported in a net position on a contract-by-contract basis at the end of each reporting period. We classify contract liabilities as current or noncurrent based on the timing of when we expect to recognize revenue. The noncurrent portion of contract liabilities is included in "Other liabilities" in our condensed consolidated balance sheets. Acquisition and integration related costs

Business Segment Information

Business Segment Information	6 Months Ended
	Jun. 30, 2018
Segment Reporting [Abstract]
Business Segment Information	Business Segment Information We are organized into three core business segments and two non-core business segments. Our three core business segments focus on our core strengths in technical services relating to government services, technology, and hydrocarbons services. Our two non-core business segments are our Non-strategic Business segment, which includes businesses we intend to exit upon completion of existing contracts because they are no longer a part of our future strategic focus, and "Other," which includes our corporate expenses and general and administrative expenses not allocated to the other business segments. Our business segments are described below: Government Services. Our GS business segment provides full life-cycle support solutions to defense, space, aviation and other programs and missions for military and other government agencies in the U.S., U.K. and Australia. As program management integrator, KBR covers the full spectrum of defense, space, aviation and other government programs and missions from research and development; through systems engineering, test and evaluation, systems integration and program management; to operations support, maintenance and field logistics. Our recent acquisitions, as described in Note 5 to our condensed consolidated financial statements, have been combined with our existing U.S. operations within this business segment and operate under the single "KBRwyle" brand. Technology. Our Technology business segment combines KBR's proprietary technologies, equipment and catalyst supply and associated knowledge-based services into a global business for refining, petrochemicals, inorganic and specialty chemicals as well as gasification, syngas, ammonia, nitric acid and fertilizers. From early planning through scope definition, advanced technologies and project lifecycle support, KBR's Technology segment works closely with customers to provide the optimal approach to maximize their return on investment. Hydrocarbons Services. Our HS business segment provides comprehensive project and program delivery capability globally. Our key capabilities leverage our operational and technical excellence as a global provider of EPC for onshore oil and gas; LNG/GTL; oil refining; petrochemicals; chemicals; fertilizers; offshore oil and gas (shallow-water, deep-water and subsea); floating solutions (FPUs, FPSO, FLNG & FSRU); maintenance services (via the “Brown & Root Industrial Services” brand); and consulting services provided under our three specialist consulting brands, Granherne, Energo and GVA. Non-strategic Business. Our Non-strategic Business segment represents the operations or activities that we intend to exit upon completion of existing contracts. All Non-Strategic Business projects are substantially complete. We continue to finalize project close-out activities and negotiate the settlement of claims and various other matters associated with these projects. Other. Our Other business segment includes corporate expenses and general and administrative expenses not allocated to the business segments above. The following table presents revenues, gross profit (loss), equity in earnings of unconsolidated affiliates, and operating income (loss) by reporting segment. The prior year balances have been recast to reflect the change in segments as described in Note 1 to our condensed consolidated financial statements. Operations by Reportable Segment Three Months Ended Six Months Ended June 30, June 30, Dollars in millions 2018 2017 2018 2017 Revenues: Government Services $ 868 $ 543 $ 1,545 $ 1,058 Technology 72 70 134 136 Hydrocarbons Services 327 474 626 973 Subtotal 1,267 1,087 2,305 2,167 Non-strategic Business — 7 — 33 Total revenues $ 1,267 $ 1,094 $ 2,305 $ 2,200 Gross profit (loss): Government Services $ 71 $ 37 $ 123 $ 74 Technology 22 17 38 31 Hydrocarbons Services 37 55 52 88 Subtotal 130 109 213 193 Non-strategic Business — (1 ) (2 ) (3 ) Total gross profit $ 130 $ 108 $ 211 $ 190 Equity in earnings of unconsolidated affiliates: Government Services $ 6 $ 18 $ 14 $ 27 Hydrocarbons Services 4 14 19 14 Subtotal 10 32 33 41 Non-strategic Business — — — — Total equity in earnings of unconsolidated affiliates $ 10 $ 32 $ 33 $ 41 General and administrative expenses: Government Services $ (12 ) $ (6 ) $ (18 ) $ (12 ) Technology — (1 ) (1 ) (2 ) Hydrocarbons Services (8 ) (8 ) (15 ) (13 ) Other (21 ) (23 ) (42 ) (43 ) Subtotal (41 ) (38 ) (76 ) (70 ) Non-strategic Business — — — — Total general and administrative expenses $ (41 ) $ (38 ) $ (76 ) $ (70 ) Acquisition and integration related costs: Government Services $ (1 ) $ — $ (4 ) $ — Technology — — — — Hydrocarbons Services — — — — Other — — — — Subtotal (1 ) — (4 ) — Non-strategic Business — — — — Total acquisition and integration related costs $ (1 ) $ — $ (4 ) $ — Gain on disposition of assets: Government Services $ — $ — $ — $ — Technology — — — — Hydrocarbons Services — 1 — 5 Other — — — — Subtotal — 1 — 5 Non-strategic Business — — — — Total gain on disposition of assets $ — $ 1 $ — $ 5 Gain on consolidation of Aspire entities: Government Services $ — $ — $ 120 $ — Technology — — — — Hydrocarbons Services — — — — Other — — (5 ) — Subtotal — — 115 — Non-strategic Business — — — — Total gain on consolidation of Aspire entities $ — $ — $ 115 $ — Segment operating income (loss): Government Services $ 64 $ 48 $ 236 $ 88 Technology 21 16 36 29 Hydrocarbons Services 34 63 57 95 Other (21 ) (23 ) (48 ) (43 ) Subtotal 98 104 281 169 Non-strategic Business — (1 ) (2 ) (3 ) Total segment operating income (loss) $ 98 $ 103 $ 279 $ 166 Changes in Project-related Estimates There are many factors that may affect the accuracy of our cost estimates and ultimately our future profitability. These include, but are not limited to, the availability and costs of resources (such as labor, materials and equipment), productivity and weather, and for unit rate and construction service contracts, the availability and detail of customer supplied engineering drawings. With a portfolio of more than one thousand contracts, we sometimes realize both lower and higher than expected margins on projects in any given period. We recognize revisions of revenues and costs in the period in which the revisions are known. This may result in the recognition of costs before the recognition of related revenue recovery, if any. Changes in project-related estimates by business segment which significantly impacted operating income were as follows: Hydrocarbons Services We recognized changes to equity in earnings as a result of various changes to estimates on the Ichthys LNG project during the three and six months ended June 30, 2017 . See Notes 9 and 18 for a discussion of the matters impacting this project during the three and six months ended June 30, 2018 . In the second quarter of 2018, we recognized a favorable change in estimated revenues and net income associated with variable consideration recognized as a result of successful completion and performance testing of a major Hydrocarbons Services project. The PEMEX and PEP arbitration settlement (see Note 17 to our condensed consolidated financial statements) resulted in additional revenues and gross profit of $35 million during the three and six months ended June 30, 2017

Revenue

Revenue	6 Months Ended
	Jun. 30, 2018
Revenue from Contract with Customer [Abstract]
Revenue	Revenue We disaggregate our revenue from customers by type of service, geographic destination and contract type for each of our segments, as we believe it best depicts how the nature, amount, timing and uncertainty of our revenue and cash flows are affected by economic factors. See details in the tables below. Revenue by Service/Product line was as follows: Three Months Ended Six Months Ended June 30, June 30, Dollars in millions 2018 2018 By Service / Product Types Government Services Science and Space $ 169 $ 247 Engineering 302 554 Logistics 397 744 Total Government Services 868 1,545 Hydrocarbons Technology 72 134 Hydrocarbons Services Onshore 266 504 Offshore 25 49 Industrial Services 18 41 Consulting 18 32 Total Hydrocarbons Services 327 626 Total Hydrocarbons 399 760 Total net revenue $ 1,267 $ 2,305 Government Services revenue earned from key U.S. Government customers including U.S. DoD agencies and NASA was $637 million and $1.1 billion for the three and six months ended June 30, 2018 , respectively. Government Services revenue earned from non-U.S. Government customers including the U.K. MoD, the Australian Defence Force and others was $231 million and $416 million for the three and six months end June 30, 2018 , respectively. Revenue by geographic destination was as follows: Three Months Ended June 30, 2018 Hydrocarbons Total by Countries/Regions Dollars in millions Government Services Technology Hydrocarbons Services Total United States $ 431 $ 4 $ 125 $ 560 Middle East 183 4 31 218 Europe 208 13 52 273 Australia 15 — 95 110 Canada — — 4 4 Africa 20 5 4 29 China — 14 — 14 Other countries 11 32 16 59 Total net revenue $ 868 $ 72 $ 327 $ 1,267 Six Months Ended June 30, 2018 Hydrocarbons Total by Countries/Regions Dollars in millions Government Services Technology Hydrocarbons Services Total United States $ 745 $ 10 $ 251 $ 1,006 Middle East 348 11 61 420 Europe 364 21 98 483 Australia 28 1 167 196 Canada — 2 15 17 Africa 38 12 6 56 China — 35 — 35 Other countries 22 42 28 92 Total net revenue $ 1,545 $ 134 $ 626 $ 2,305 Many of our contracts contain both fixed price and cost reimbursable components. We define contract type based on the component that represents the majority of the contract. Revenue by contract type was as follows: Three Months Ended June 30, 2018 Hydrocarbons Dollars in millions Government Services Technology Hydrocarbons Services Total Fixed Price $ 283 $ 68 $ 48 $ 399 Cost Reimbursable 585 4 279 868 Total net revenue $ 868 $ 72 $ 327 $ 1,267 Six Months Ended June 30, 2018 Hydrocarbons Dollars in millions Government Services Technology Hydrocarbons Services Total Fixed Price $ 501 $ 127 $ 104 $ 732 Cost Reimbursable 1,044 7 522 1,573 Total net revenue $ 1,545 $ 134 $ 626 $ 2,305 We recognized revenue of $30 million and $31 million from performance obligations satisfied in previous periods for the three and six month periods ended June 30, 2018 , respectively. On June 30, 2018 , we had $10.1 billion of transaction price allocated to remaining performance obligations. We expect to recognize approximately 31% of our remaining performance obligations as revenue within one year , 23% in years two through five , and 46% thereafter. Revenue associated with our remaining performance obligations to be recognized beyond one year includes performance obligations related to Aspire Defence and Fasttrax projects, which have contract terms extending through 2041 and 2023, respectively. The balance of remaining performance obligations does not include variable consideration that was determined to be constrained as of June 30, 2018

Acquisitions, Dispositions and

Acquisitions, Dispositions and Other Transactions	6 Months Ended
	Jun. 30, 2018
Business Combinations [Abstract]
Acquisitions, Dispositions and Other Transactions	Acquisitions, Dispositions and Other Transactions Stinger Ghaffarian Technologies Acquisition On April 25, 2018, we acquired 100% of the outstanding stock of Stinger Ghaffarian Technologies ("SGT"). SGT is a leading provider of high-value engineering, mission operations, scientific and IT software solutions in the government services market. We accounted for this transaction using the acquisition method under ASC 805, Business Combinations. The acquisition is reported within our GS business segment. Aggregate base consideration for the acquisition was $355 million , plus $13 million of working capital and other purchase price adjustments set forth in the purchase agreement. We initially recognized goodwill of $260 million arising from the acquisition, which primarily relates to future growth opportunities based on an expanded service offering and other expected synergies from the combined operations. Approximately $240 million of the goodwill is deductible for tax purposes. The intangible assets recognized were comprised of customer relationships and backlog. These intangibles will be amortized over a weighted-average period of 19 years. The final settlement of the working capital adjustment is expected in the third quarter of 2018. Accordingly, adjustments to the initial purchase accounting will likely be completed during the second half of 2018. We funded the acquisition with borrowings under our new Senior Credit Facility that were entered into concurrently with the acquisition. See Note 14 to our condensed consolidated financial statements for information related to our new Senior Secured Credit Facilities. We recognized direct, incremental costs related to this acquisition of $1 million and $3 million during the three and six months ended June 30, 2018 , respectively, which are included in "Acquisition and integration related costs" on the condensed consolidated statements of operations. The following table summarizes the consideration paid for this acquisition and the fair value of the assets acquired and liabilities assumed as of the acquisition date. Dollars in millions SGT Fair value of total consideration transferred $ 368 Recognized amounts of identifiable assets acquired and liabilities assumed: Cash and equivalents 11 Accounts receivable 52 Contract assets 21 Other current assets 2 Total current assets 86 Property, plant and equipment, net 2 Equity in and advances to unconsolidated affiliates 2 Intangible assets 74 Deferred income taxes 6 Other assets 8 Total assets 178 Accounts payable 27 Contract liabilities 6 Accrued salaries, wages and benefits 28 Other current liabilities 5 Total current liabilities 66 Employee compensation and benefits 2 Other liabilities 2 Total liabilities 70 Goodwill $ 260 The acquired SGT business contributed $90 million of revenues and $7 million of gross profit for the period from April 25, 2018 through June 30, 2018. Aspire Defence Subcontracting Joint Ventures On January 15, 2018, Carillion plc ("Carillion"), our U.K. partner in the joint ventures that provide the construction and related support services to Aspire Defence Limited, entered into compulsory liquidation. Carillion no longer performs any of the services for the project, as we have stepped in to deliver both construction and support services without disruption. In accordance with the commercial arrangements of the project company and its lenders, Carillion was excluded from future business and benefit from its interest in the project and we have assumed operational management of the subcontracting joint ventures. During the first quarter of 2018, we evaluated our rights and obligations under the joint venture agreements and other commercial arrangements of the project company and its lenders. We concluded Carillion's liquidation was a reconsideration event for KBR to reevaluate the primary beneficiary of the subcontracting joint ventures in which we were partners. We concluded KBR is the primary beneficiary as it has the power to direct activities having the most significant impact on the economic performance of the subcontracting joint ventures. Consequently, KBR consolidated these entities in its financial statements effective January 15, 2018. Prior to obtaining control of these entities, we accounted for our 50% investment in each of the subcontracting joint ventures under the equity method of accounting. The balance of our net equity investments in these entities was approximately $5 million as of January 15, 2018. As a result of obtaining control of the subcontracting joint ventures, we accounted for these transactions under the acquisition method of accounting for business combination in accordance with ASC 805. Consequently, we remeasured our equity interests in each of the subcontracting joint ventures to fair value which resulted in a gain of approximately $115 million recognized in the first quarter of 2018 and included in "Gain on consolidation of Aspire entities" in our condensed consolidated statements of operations. The fair value of each of the subcontracting joint ventures was determined using a discounted cash flow model with future cash flows based on internal forecasts of revenue and expenses over the remaining life of the subcontract agreement. To arrive at our future cash flows, we used estimates of economic and market assumptions, including growth rates in revenues, costs, estimates of future expected changes in operating margins, tax rates and cash expenditures. The estimated cash flows were discounted using a weighted-average cost of capital that reflected current market conditions and risk profile for each of the subcontracting joint ventures. We recognized goodwill of approximately $45 million which was primarily related to the deferred tax liabilities associated with the contract-related intangible assets acquired in the transaction. None of the goodwill is deductible for tax purposes. The contract-related intangible assets have estimated useful lives ranging 4 to 23 years . During the second quarter of 2018, we made immaterial adjustments and reclassifications to the previously reported assets acquired and liabilities assumed upon obtaining control of the subcontracting joint ventures including a reduction to cash and equivalents of $8 million and increase to intangible assets of approximately $10 million . Certain data necessary to complete the purchase price allocation is not yet available and primarily relates to the final determination of certain working capital balances and the fair value of the acquired intangibles as well as the final tax returns that provide the underlying tax basis of the assets and liabilities. The following table summarizes the fair value of the assets acquired and liabilities assumed as of the date we obtained control of the subcontracting joint ventures. Dollars in millions Aspire Fair value of Aspire Defence subcontracting entities $ 240 Recognized amounts of identifiable assets acquired and liabilities assumed: Cash and equivalents 197 Accounts receivable 4 Other current assets 12 Total current assets 213 Property, plant and equipment, net 9 Intangible assets 253 Other assets — Total assets 475 Accounts payable 52 Contract liabilities 161 Accrued salaries, wages and benefits 1 Other current liabilities 21 Total current liabilities 235 Deferred income taxes 43 Other liabilities 2 Total liabilities 280 Goodwill $ 45 On April 18, 2018, we completed the acquisition of Carillion's interests in the subcontracting entities for $50 million pursuant to a share and business purchase agreement and approval by Aspire Defence Limited, the Aspire Defence Limited project lenders and the MoD. We accounted for the change in KBR's interest as an equity transaction. The difference between the noncontrolling interests of $124 million in the subcontracting entities at the date of acquisition and the cash consideration paid to Carillion was recognized as a net increase to "PIC" of $74 million for the six month period ended June 30, 2018. We incurred $0 million and $1 million of acquisition-related costs for the three and six months ended June 30, 2018 , which were recorded in "Acquisition and integration related costs" on our condensed consolidated statements of operations. The results of operations of the subcontracting entities have been included in our condensed consolidated statements of operations for periods subsequent to obtaining control on January 15, 2018. The acquired subcontracting joint ventures contributed $144 million and $249 million of revenues and $15 million and $28 million of gross profit for the three and six month periods ended June 30, 2018 , respectively, within our GS business segment. The following supplemental pro forma condensed consolidated results of operations assume that SGT and the Aspire Defence subcontracting joint ventures had been acquired as of January 1, 2017. The supplemental pro forma information was prepared based on the historical financial information of SGT and the Aspire Defence subcontracting joint ventures and has been adjusted to give effect to pro forma adjustments that are both directly attributable to the transaction and factually supportable. Pro forma adjustments were primarily related to the amortization of intangibles, interest on borrowings related to the acquisitions, and the reclassification of the gain on consolidation of the Aspire entities to January 1, 2017. 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, 2017, nor is it indication of future results of operations. Three Months Ended June 30, Six Months Ended June 30, Dollars in millions 2018 2017 2018 2017 Revenue $ 1,291 $ 1,319 $ 2,453 $ 2,644 Net income attributable to KBR 42 87 86 207 Diluted earnings per share $ 0.30 $ 0.62 $ 0.61 $ 1.46 Sigma Bravo Pty Ltd Acquisition During the fourth quarter of 2017, we acquired 100% of the outstanding common shares of Sigma Bravo Pty Ltd ("Sigma Bravo"). Sigma Bravo provides information management, technical support and training services as well as operational support to the Australian Defence Force. The aggregate purchase price of the acquisition was $9 million . We recognized goodwill of $1 million

Cash and Equivalents

Cash and Equivalents	6 Months Ended
	Jun. 30, 2018
Cash and Cash Equivalents [Abstract]
Cash and Equivalents	Cash and Equivalents We consider all highly liquid investments with an original maturity of three months or less to be cash equivalents. Cash and equivalents include cash balances held by our wholly owned subsidiaries as well as cash held by joint ventures that we consolidate. Joint venture and the Aspire project cash balances are limited to specific project activities and are not available for other projects, general cash needs or distribution to us without approval of the board of directors of the respective entities. We expect to use this cash for project costs and distributions of earnings. However, some of the earnings distributions may be paid to other KBR entities where the cash can be used for general corporate needs. The components of our cash and equivalents balance are as follows: June 30, 2018 Dollars in millions International (a) Domestic (b) Total Operating cash and equivalents $ 106 $ 87 $ 193 Short-term investments (c) 15 9 24 Cash and equivalents held in consolidated joint ventures and Aspire project entities 300 2 302 Total $ 421 $ 98 $ 519 December 31, 2017 Dollars in millions International (a) Domestic (b) Total Operating cash and equivalents $ 112 $ 124 $ 236 Short-term investments (c) 82 60 142 Cash and equivalents held in consolidated joint ventures 59 2 61 Total $ 253 $ 186 $ 439 (a) Includes deposits held in non-U.S. operating accounts. (b) Includes U.S. dollar and foreign currency deposits held in operating accounts that constitute onshore cash for tax purposes but may reside either in the U.S. or in a foreign country. (c)

Accounts Receivable

Accounts Receivable	6 Months Ended
	Jun. 30, 2018
Receivables [Abstract]
Accounts Receivable	Accounts Receivable The components of our accounts receivable, net of allowance for doubtful accounts balance, are as follows: June 30, 2018 Dollars in millions Unbilled Trade & Other Total Government Services $ 198 $ 279 $ 477 Technology — 41 41 Hydrocarbons Services 65 192 257 Subtotal 263 512 775 Non-strategic Business — 4 4 Total $ 263 $ 516 $ 779 As a result of the adoption of ASC 606 on January 1, 2018, unbilled accounts receivable is classified in "Accounts receivable" in our condensed consolidated balance sheets as it represents the amounts that have been recorded in revenue based on contracted prices for which we have obtained an unconditional right to payment under the terms of our contracts. Retainage is now recorded in "Contract Assets" in our condensed consolidated balance sheets when the right to payment of the retainage is conditional under the terms of our contracts. Prior to the adoption of ASC 606, unbilled accounts receivables were classified as "Costs and estimated earnings in excess of billings on uncompleted contracts" and retainage was classified within "Accounts receivable". December 31, 2017 Dollars in millions Retainage Trade & Other Total Government Services $ 6 $ 189 $ 195 Technology — 72 72 Hydrocarbons Services 53 186 239 Subtotal 59 447 506 Non-strategic Business 4 — 4 Total $ 63 $ 447 $ 510

Contract assets and contract li

Contract assets and contract liabilities	6 Months Ended
	Jun. 30, 2018
Contractors [Abstract]
Contract assets and contract liabilities	Contract Assets and Contract Liabilities The timing of revenue recognition, billings and cash collections results in accounts receivable, contract assets, and contract liabilities on the condensed consolidated balance sheets. Our contract assets by business segment are as follows: June 30, December 31, Dollars in millions 2018 2017 $ Change % Change Government Services $ 159 $ 274 $ (115 ) (42 )% Technology 31 39 (8 ) (21 )% Hydrocarbons Services 58 70 (12 ) (17 )% Subtotal 248 383 (135 ) (35 )% Non-strategic Business — — — N/A Total $ 248 $ 383 $ (135 ) (35 )% The decrease in contract assets was primarily caused by the initial adjustment due to the adoption of ASC 606, offset by normal business operations and the acquisition of $21 million of contract assets from the purchase of SGT as described in Note 5 to our condensed consolidated financial statements. Our contract liabilities by business segment are as follows: June 30, December 31, Dollars in millions 2018 2017 $ Change % Change Government Services $ 250 $ 85 165 194 % Technology 90 62 28 45 % Hydrocarbons Services 118 213 (95 ) (45 )% Subtotal 458 360 98 27 % Non-strategic Business 7 8 (1 ) (13 )% Total $ 465 $ 368 97 26 % The increase in contract liabilities was primarily related to the acquisition of $161 million of contract liabilities associated with the Aspire Defence project joint ventures, partially offset by normal business operations and the recognition of the incentive fee associated with an Australian LNG project. Revenue recognized for the six months ended June 30, 2018 , that was included in the contract liability balance at December 31, 2017 was $181 million

Unapproved Change Orders, Claim

Unapproved Change Orders, Claims and Estimated Recoveries of Claims Against Suppliers and Subcontractors	6 Months Ended
	Jun. 30, 2018
Contractors [Abstract]
Unapproved Change Orders, Claims and Estimated Recoveries of Claims Against Suppliers and Subcontractors	Unapproved Change Orders, Claims, and Estimated Recoveries of Claims Against Suppliers and Subcontractors The amounts of unapproved change orders, claims and estimated recoveries of claims against suppliers and subcontractors included in determining the profit or loss on contracts are as follows: Dollars in millions 2018 2017 Amounts included in project estimates-at-completion at January 1, $ 924 $ 294 Increase (decrease), net of foreign currency effect 10 280 Approved change orders, net of foreign currency effect (1 ) (3 ) Amounts included in project estimates-at-completion at June 30, $ 933 $ 571 Amounts recognized over time based on progress at June 30, $ 887 $ 490 As of June 30, 2018 , most of the change orders, customer claims and estimated recoveries of claims against suppliers and subcontractors above relate to our proportionate share of unapproved change orders and claims associated with our 30% ownership interest in JKC, which has contracted to perform the engineering, procurement, supply, construction and commissioning of onshore LNG facilities for a client in Darwin, Australia (the "Ichthys LNG Project"). The contract between JKC and its client is a hybrid contract containing both cost-reimbursable and fixed-price (including unit-rate) scopes. Further, there are additional claims we believe that we or our joint ventures are entitled to recover from clients which have been excluded from estimated revenues and profit at completion as appropriate under U.S. GAAP. These commercial matters may not be resolved in the near term. Our current estimates for the above unapproved change orders, customer claims and estimated recoveries of claims against suppliers and subcontractors may prove inaccurate and could result in significant changes to the estimated revenue, costs and profits at completion on the underlying projects. Significant contingencies related to JKC are discussed further in Note 18 to our condensed consolidated financial statements. Liquidated damages Some of our hydrocarbons services contracts have schedule dates and performance obligations that, if not met, could subject us to penalties for liquidated damages. These generally relate to specified activities that must be completed by a set contractual date or by achievement of a specified level of output or throughput. Each contract defines the conditions under which a customer may make a claim for liquidated damages. However, in some instances, liquidated damages are not asserted by the customer, but the potential to do so is used in negotiating or settling claims and closing out the contract. Any accrued liquidated damages are recognized as a reduction in revenues in our condensed consolidated statements of operations. In addition to the accrued liquidated damages, it is possible that liquidated damages that have not been included in our estimates at completion in determining project income related to several projects totaling $9 million and $9 million at June 30, 2018 and December 31, 2017

Claims and Accounts Receivable

Claims and Accounts Receivable	6 Months Ended
	Jun. 30, 2018
Receivables [Abstract]
Claims and Accounts Receivable	Claims and Accounts Receivable Our claims and accounts receivable balance not expected to be collected within the next 12 months was $104 million and $101 million as of June 30, 2018 and December 31, 2017 , respectively. Claims and accounts receivable primarily reflects claims filed with the U.S. government related to payments not yet received for costs incurred under various U.S. government cost reimbursable contracts within our GS business segment. These claims relate to disputed costs or contracts where our costs have exceeded the U.S. government's funded value on the task order. Included in the amount is $77 million as of June 30, 2018 and $79 million as of December 31, 2017 , respectively, related to Form 1s issued by the U.S. government questioning or objecting to costs billed to them. See Note 16 of our condensed consolidated financial statements for additional discussions. The amount also includes $27 million and $22 million as of June 30, 2018 and December 31, 2017

Restructuring

Restructuring	6 Months Ended
	Jun. 30, 2018
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring In connection with our long-term strategic reorganization, we announced that beginning in the fourth quarter of 2014 we would undertake a restructuring, which would include actions such as reducing the amount of real estate we utilized and significantly reducing our workforce. There were additional actions undertaken in 2015 and 2016, including staff reductions to support current business levels. The employees affected by these reductions were eligible for separation benefits upon termination dates which occurred through 2017. The table below provides a rollforward of one-time charges associated with employee terminations based on the fair value of the termination benefits. These amounts are included in "Other current liabilities" on our condensed consolidated balance sheets. Dollars in millions Severance Accrual Balance at December 31, 2017 $ 1 Payments (1 ) Balance at June 30, 2018 $ — Balance at December 31, 2016 $ 8 Payments (5 ) Balance at June 30, 2017 $ 3

Equity Method Investments And V

Equity Method Investments And Variable Interest Entities	6 Months Ended
	Jun. 30, 2018
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments And Variable Interest Entities	Equity Method Investments and Variable Interest Entities We conduct some of our operations through joint ventures, which operate through partnership, corporation, undivided interest and other business forms and are principally accounted for using the equity method of accounting. Additionally, the majority of our joint ventures are VIEs. The following table presents a rollforward of our equity in and advances to unconsolidated affiliates: June 30, December 31, Dollars in millions 2018 2017 Beginning balance $ 387 $ 369 Cumulative effect of change in accounting policy (a) 87 — Adjusted balance at January 1, 2018 474 369 Equity in earnings of unconsolidated affiliates 33 72 Distribution of earnings of unconsolidated affiliates (b) (9 ) (62 ) Advances (receipts) (6 ) (11 ) Investments (c) 162 — Foreign currency translation adjustments (11 ) 12 Other (21 ) 5 Balance before reclassification $ 622 $ 385 Reclassification of excess distributions (b) — 11 Recognition of excess distributions (b) — (9 ) Ending balance $ 622 $ 387 (a) As further discussed in Note 1 to our condensed consolidated financial statements, deferred construction income in the amount of $87 million previously recorded in "Equity in and advance to unconsolidated affiliates" was reversed and included in the cumulative effect adjustment as a result of the early adoption of ASC 606 by the Aspire Defence project joint ventures. (b) From 2014 through 2017, we received cash dividends in excess of the carrying value of one of our unconsolidated joint ventures. We have no obligation to return any portion of the cash dividends received. We record excess dividends as "Deferred income from unconsolidated affiliates" on our condensed consolidated balance sheets and recognize these dividends as earnings are generated by the investment. As further discussed in Note 1 to our condensed consolidated financial statements, the adoption of ASC Topic 606 by this unconsolidated joint venture resulted in the reversal of the "Deferred income from unconsolidated affiliates" balance of $101 million in our condensed consolidated balance sheets as of December 31, 2017 in the cumulative effect adjustment of the change in accounting policy. (c) In 2018, investments included a $162 million investment to fund JKC. Unconsolidated Variable Interest Entities For the VIEs in which we participate, our maximum exposure to loss consists of our equity investment in the VIE and any amounts owed to us for services we may have provided to the VIE, reduced by any unearned revenues on the project. Our maximum exposure to loss may also include our obligation to fund our proportionate share of any future losses incurred. As of June 30, 2018, we do not project any losses related to these joint venture projects. Where our performance and financial obligations are joint and several to the client with our joint venture partners, we may be further exposed to losses above our ownership interest in the joint venture. In addition: • The Affinity, Aspire Defence and U.K. Road joint venture projects are further exposed to the risks of construction and insurance losses, if any, on a joint and several basis. Any losses may be limited to the extent that these joint ventures become insolvent as the joint venture customer does not have recourse against the joint venture partners. • JKC is further exposed to certain losses to the extent our joint venture partners are unable to meet their obligations, as we have joint and several liability to the customer. JKC has recorded significant unapproved change orders and claims with the client as well as estimated recoveries of claims against suppliers and subcontractors arising from issues related to changes to the work scope, delays and lower than planned subcontractor activity. During the six months ended June 30, 2018, we made additional investments in the joint venture of approximately $162 million to fund our proportionate share of the ongoing project execution activities. We anticipate making additional investments in the joint venture of approximately $140 million to $240 million over the next 12 months. See Notes 9 and 18 to our condensed consolidated financial statements for further discussion regarding contingencies related to the Ichthys JV. 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. The Aspire Defence joint venture amounts for 2017 reflect all joint ventures related to the Aspire Defence project. June 30, 2018 Dollars in millions Total assets Total liabilities Affinity joint venture (U.K. MFTS project) $ 19 $ 3 Aspire Defence Limited $ 76 $ 6 JKC joint venture (Ichthys LNG project) $ 293 $ 27 U.K. Road project joint ventures $ 37 $ 10 Middle East Petroleum Corporation (EBIC Ammonia project) $ 40 $ 1 December 31, 2017 Dollars in millions Total assets Total liabilities Affinity joint venture (U.K. MFTS project) $ 26 $ 10 Aspire Defence joint ventures (Aspire Defence project) $ 10 $ 125 JKC joint venture (Ichthys LNG project) $ 140 $ 25 U.K. Road project joint ventures $ 36 $ 10 Middle East Petroleum Corporation (EBIC Ammonia project) $ 38 $ 1 Related Party Transactions We often provide engineering, construction management and other subcontractor services to our joint ventures and our revenues include amounts related to these services. For the six months ended June 30, 2018 and 2017 , our revenues included $105 million and $38 million , respectively, related to the services we provided to our joint ventures, primarily the Ichthys JV within our HS business segment. Under the terms of an alliance agreement with our EPIC joint venture, EPIC provides certain pipe fabrication services to KBR. EPIC provided no services to KBR under the agreement in the six months ended June 30, 2018 and $3 million of services to KBR under the agreement in the six months ended June 30, 2017 . Under the terms of our TSA with Brown & Root Industrial Services joint venture, we collect cash from customers and make payments to vendors and employees on behalf of the joint venture. For the six months ended June 30, 2018 and 2017 , we incurred approximately $1 million and $3 million , respectively, of reimbursable costs under the TSA. Amounts included in our condensed consolidated balance sheets related to services we provided to our unconsolidated joint ventures as of June 30, 2018 and December 31, 2017 are as follows: June 30, December 31, Dollars in millions 2018 2017 Accounts receivable, net of allowance for doubtful accounts (a) $ 12 $ 28 Contract assets (b) $ 2 $ 2 Contract liabilities (b) $ 33 $ 27 Accounts payable $ 2 $ — (a) Includes a $0 million and $4 million net receivable from the Brown & Root Industrial Services joint venture at June 30, 2018 and December 31, 2017 , respectively. (b) Reflects contract assets and contract liabilities primarily related to joint ventures within our HS business segment as discussed above. Consolidated Variable Interest Entities We consolidate VIEs if we determine we are the primary beneficiary of the project entity because we control the activities that most significantly impact the economic performance of the entity. The following is a summary of the significant VIEs where we are the primary beneficiary: Dollars in millions June 30, 2018 Total assets Total liabilities KJV-G joint venture (Gorgon LNG project) $ 14 $ 19 JKS joint venture (Escravos Gas-to-Liquids project) $ 8 $ 13 Fasttrax Limited (Fasttrax project) $ 55 $ 42 Aspire Defence Works/Services entities (Aspire Defence project) $ 575 $ 313 Dollars in millions December 31, 2017 Total assets Total liabilities KJV-G joint venture (Gorgon LNG project) $ 15 $ 48 JKS joint venture (Escravos Gas-to-Liquids project) $ 8 $ 13 Fasttrax Limited (Fasttrax project) $ 57 $ 47

Pension Plans

Pension Plans	6 Months Ended
	Jun. 30, 2018
Retirement Benefits [Abstract]
Pension Plans	Pension Plans The components of net periodic benefit cost related to pension benefits for the three and six months ended June 30, 2018 and 2017 were as follows: Three Months Ended June 30, 2018 2017 Dollars in millions United States Int’l United States Int’l Components of net periodic benefit cost Interest cost — 13 — 13 Expected return on plan assets (1 ) (20 ) (1 ) (19 ) Recognized actuarial loss 1 7 1 7 Net periodic benefit cost $ — $ — $ — $ 1 Six Months Ended June 30, 2018 2017 Dollars in millions United States Int’l United States Int’l Components of net periodic benefit cost Interest cost 1 26 1 26 Expected return on plan assets (2 ) (41 ) (2 ) (37 ) Recognized actuarial loss 1 14 1 15 Net periodic benefit cost $ — $ (1 ) $ — $ 4 For the six months ended June 30, 2018 , we have contributed approximately $19 million of the $40 million we expect to contribute to our plans in 2018

Debt And Other Credit Facilitie

Debt And Other Credit Facilities	6 Months Ended
	Jun. 30, 2018
Debt Disclosure [Abstract]
Debt and Other Credit Facilities	Debt and Other Credit Facilities Our outstanding debt consisted of the following at the dates indicated: Dollars in millions June 30, 2018 December 31, 2017 Revolving credit agreement, terminated April 2018 $ — $ 470 Revolver 115 — Term Loan A 163 — Term Loan B 800 — Unamortized debt issuance costs - Term Loan A (4 ) — Unamortized debt issuance costs and discount - Term Loan B (19 ) — Total long-term debt 1,055 470 Less: current portion 12 — Total long-term debt, net of current portion $ 1,043 $ 470 Senior Credit Facility On April 25, 2018, the Company refinanced its $1 billion Credit Agreement due September 2020. The new senior secured credit facility ("Senior Credit Facility") consists of a $500 million revolving credit facility ("Revolver"), a $500 million performance letter of credit facility ("PLOC"), a $350 million Delayed Draw Term Loan A, ("Term Loan A") and an $800 million Term Loan B ("Term Loan B"). The Revolver, PLOC and Term Loan A mature in April 2023 and the Term Loan B matures in April 2025. The Term Loan A may be drawn upon until the earlier of becoming fully drawn or June 30, 2019 (the "Availability Period"). Borrowings under the Term Loan A may only be used to fund investments in JKC. See Note 18 to our condensed consolidated financial statements for a discussion on JKC. The interest rate with respect to the Term Loan B is LIBOR plus 3.75% .The interest rates with respect to the Revolver and Term Loan A are based on, at the Company's option, adjusted LIBOR plus an additional margin or base rate plus additional margin. The Senior Credit Facility provides for fees on letters of credit issued under the PLOC at varying rates, as shown below. Additionally, there is a commitment fee with respect to the Revolver, PLOC and Term Loan A. The details of the applicable margins and commitment fees are based on the Company's consolidated leverage ratio as follows: Revolver and Term Loan A Consolidated Leverage Ratio LIBOR Margin Base Rate Margin Performance Letter of Credit Fee Commitment Fee Greater than or equal to 4.00 to 1.00 3.25 % 2.25 % 1.95 % 0.450 % Less than 4.00 to 1.00 but greater than or equal to 3.00 to 1.00 3.00 % 2.00 % 1.80 % 0.400 % Less than 3.00 to 1.00 but greater than or equal to 2.00 to 1.00 2.75 % 1.75 % 1.65 % 0.375 % Less than 2.00 to 1.00 2.50 % 1.50 % 1.50 % 0.350 % The Term Loan A provides for quarterly principal payments of 2.50% of the aggregate principal amount commencing with the fiscal quarter ending June 30, 2019. The Term Loan B provides for quarterly principal payments of 0.25% of the initial aggregate principal amounts commencing with the fiscal quarter ending September 30, 2018. The Senior Credit Facility contains customary restrictive covenants, subject to certain permitted amounts and exceptions, including covenants limiting our ability to incur additional liens and indebtedness, enter into asset sales, repurchase our equity shares and make certain types of investments. The Revolver, PLOC, and Term Loan A contain financial maintenance covenants of a maximum consolidated leverage ratio and a consolidated interest coverage ratio (as such terms are defined in the Senior Credit Facility). Our consolidated leverage ratio as of the last day of any fiscal quarter, commencing with the fiscal quarter ending June 30, 2018, may not exceed 4.50 to 1 and reducing gradually during 2019 and 2020 to 3.50 to 1. Our consolidated interest coverage ratio as of the last day of any fiscal quarter, commencing with the fiscal quarter ending June 30, 2018 and thereafter, may not be less than 3.00 to 1. As of June 30, 2018 , we were in compliance with our financial covenants. Nonrecourse Project Debt Fasttrax Limited, a joint venture in which we indirectly own a 50% equity interest with an unrelated partner, was awarded a concession contract in 2001 with the U.K. MoD to provide a Heavy Equipment Transporter Service to the British Army. Under the terms of the arrangement, Fasttrax Limited operates and maintains 91 HETs for a term of 22 years. The purchase of the HETs by the joint venture was financed through two series of bonds secured by the assets of Fasttrax Limited and a bridge loan totaling approximately £84.9 million (approximately $120 million at the exchange rate on the date of the transaction). The secured bonds are an obligation of Fasttrax Limited and are not a debt obligation of KBR as they are nonrecourse to the joint venture partners. Accordingly, in the event of a default on the notes, the lenders may only look to the assets of Fasttrax Limited for repayment. The bridge loan of approximately £12.2 million (approximately $17 million at the exchange rate on the date of the transaction) was replaced when we and the other joint venture partners funded the joint venture with equity and subordinated notes in 2005. The secured bonds were issued in two classes consisting of Class A 3.5% Index Linked Bonds in the amount of £56 million (approximately $79 million at the exchange rate on the date of the transaction) and Class B 5.9% Fixed Rate Bonds in the amount of £16.7 million (approximately $24 million at the exchange rate on the date of the transaction). Semi-annual payments on both classes of bonds commenced in March 2005 and will continue through maturity in 2021. The subordinated notes payable to each of the partners initially bear interest at 11.25% increasing to 16%

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The effective tax rate was approximately 22% and 20% for the three and six months ended June 30, 2018 , respectively. The effective tax rate was approximately 21% and 23% for the three and six months ended June 30, 2017 , respectively. The effective tax rate for the six months ended June 30, 2018 was impacted by a discrete tax expense as a result of obtaining control of the Aspire Defence project subcontracting joint ventures, that was recorded at a lower rate than our estimated annual tax rate for 2018. Our estimated annual effective tax rate for 2018 is 23% excluding the impact of obtaining control of the Aspire Defence project subcontracting joint ventures. Our estimated annual effective rate is subject to change based on the actual jurisdictions where our 2018 earnings are generated. On December 22, 2017, the U.S. enacted comprehensive tax legislation commonly referred to as the Tax Cuts and Jobs Act (the "Tax Act") making broad and complex changes to the U.S. tax code. SEC Staff Accounting Bulletin (SAB) 118 provides a measurement period that should not extend beyond one year from the Tax Act enactment date for companies to complete the accounting under ASC 740. In January and April of 2018, the Internal Revenue Service ("IRS") issued guidance which provides additional clarification on certain aspects of the Deemed Repatriation Transition Tax ("Transition Tax") calculation. We applied this guidance which impacted certain tax elections, increasing our estimated Transition Tax liability by approximately $77 million resulting in a total estimated Transition Tax liability of approximately $223 million which was fully offset by foreign tax credits generated by the deemed repatriation as well as foreign tax credit carryforwards available for use. We anticipate additional IRS guidance relative to the Transition Tax and other aspects of the Tax Act to be forthcoming throughout the remainder of 2018. As of June 30, 2018 , we have not yet completed our accounting for the income tax effects of the Tax Act and will continue to revise our provisional amounts as additional guidance becomes available. The valuation allowance for deferred tax assets as of June 30, 2018 and December 31, 2017 was $149 million and $217 million , respectively. The change in the valuation allowance was a decrease of $67 million and decrease of $16 million for the three months ended June 30, 2018 and 2017 , respectively, and a decrease of $68 million and decrease of $19 million for the six months ended June 30, 2018 and 2017 , respectively. The decrease in valuation allowance primarily related to changes in foreign tax credit carryforwards due to the refinement of provisional impacts recorded related to the Transition Tax. The valuation allowance is primarily related to foreign tax credit carryforwards and foreign and state net operating loss carryforwards that, in the judgment of management, are not more likely than not to be realized. The ultimate realization of deferred tax assets is dependent on the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities (including the impact of available carryback and carryforward periods), projected future taxable income and tax-planning strategies in making this assessment. The reserve for uncertain tax positions included in "Other liabilities" and "Deferred income taxes" on our condensed consolidated balance sheets as of June 30, 2018 and December 31, 2017 was $105 million and $184 million , respectively. The change in the reserve for uncertain tax positions primarily relates to a settlement with a tax authority during the six months ended June 30, 2018

U.S. Government Matters

U.S. Government Matters	6 Months Ended
	Jun. 30, 2018
United States Government Contract Work [Abstract]
U.S. Government Matters	U.S. Government Matters We provide services to various U.S. governmental agencies, which include the U.S. DoD and the Department of State. We may have disagreements or experience performance issues on our U.S. government contracts. When performance issues arise under any of these contracts, the U.S. government retains the right to pursue various remedies, including challenges to expenditures, suspension of payments, fines and suspensions or debarment from future business with the U.S. government. The negotiation, administration and settlement of our contracts are subject to audit by the DCAA. The DCAA serves in an advisory role to the DCMA, and the DCMA is responsible for the administration of the majority of our contracts. The scope of these audits include, among other things, the validity of direct and indirect incurred costs, provisional approval of annual billing rates, approval of annual overhead rates, compliance with the FAR and CAS, compliance with certain unique contract clauses and audits of certain aspects of our internal control systems. Based on the information received to date, we do not believe the completed or ongoing government audits will have a material adverse impact on our results of operations, financial position or cash flows. Legacy U.S. Government Matters Between 2002 and 2011, we provided significant support to the U.S. Army and other U.S. government agencies in support of the war in Iraq under the LogCAP III contract. We continue to support the U.S. government around the world under the LogCAP IV and other contracts. We have been in the process of closeout of the LogCAP III contract since 2011, and we expect the closeout process to continue through at least 2019. As a result of our work under LogCAP III, there are claims and disputes pending between us and the U.S. government which need to be resolved in order to close the contract. The closeout process includes resolving objections raised by the U.S. government through a billing dispute process referred to as Form 1s and MFRs. We continue to work with the U.S. government to resolve these issues and are engaged in efforts to reach mutually acceptable resolution of these outstanding matters. However, for certain of these matters, we have filed claims with the ASBCA or the COFC. We also have matters related to ongoing litigation or investigations involving U.S. government contracts. We anticipate billing additional labor, vendor resolution and litigation costs as we resolve the open matters. At this time, we cannot determine the timing or net amounts to be collected or paid to close out these contracts. Form 1s The U.S. government has issued Form 1s questioning or objecting to costs we billed to them under cost reimbursable contracts primarily related to (1) our use of private security and our provision of containerized housing under the LogCAP III contract discussed above and (2) our provision of emergency construction services primarily to U.S. government facilities damaged by Hurricanes Katrina and Wilma, under our CONCAP III contract with the U.S. Navy. As a consequence of the issuance of the Form 1s, the U.S. government has withheld payment to us on outstanding invoices, pending resolution of these matters. The U.S. government has issued and has outstanding Form 1s questioning $171 million of billed costs as of June 30, 2018 . They had previously paid us $88 million of the questioned costs related to our services on these contracts. The remaining balance of $83 million as of June 30, 2018 is included on our condensed balance sheet in “Claims and accounts receivable", "Contract assets" and "Accounts Receivable" in the amounts of $77 million , $4 million , and $2 million respectively. In addition, we have withheld $26 million from our subcontractors at June 30, 2018 related to these questioned costs. While we continue to believe that the amounts we have invoiced the U.S. government are in compliance with our contract terms and that recovery is probable, we also continue to evaluate our ability to recover these amounts as new information becomes known. As is common in the industry, negotiating and resolving these matters is often an involved and lengthy process, which sometimes necessitates the filing of claims or other legal action as discussed above. Concurrent with our continued negotiations with the U.S. government, we await the rulings on the filed claims. We are unable to predict when the rulings will be issued or when the matters will be settled or resolved with the U.S. government. As a result of the Form 1s, and claims discussed above as well as open audits, we have accrued a reserve for unallowable costs at June 30, 2018 and December 31, 2017 of $55 million and $51 million , respectively, as a reduction to "Claims and accounts receivable" and in "Other liabilities" on our condensed consolidated balance sheets. Private Security Contractors. Starting in February 2007, we received a series of Form 1s from the DCAA informing us of the U.S. government's intent to deny reimbursement to us under the LogCAP III cost reimbursable contract for amounts related to the use of PSCs by KBR and a subcontractor in connection with its work for KBR providing dining facility services in Iraq between 2003 and 2006. The government challenged $56 million in billings. The government had previously paid $11 million and has withheld payments of $45 million , which as of June 30, 2018 we have recorded as due from the government related to this matter in "Claims and accounts receivable" on our condensed consolidated balance sheets. On June 16, 2014, we received a decision from the ASBCA which agreed with KBR's position (i) that the LogCAP III contract did not prohibit the use of PSCs to provide force protection to KBR or subcontractor personnel, (ii) that there was a need for force protection and (iii) that the costs were reasonable. The ASBCA also found that the Army breached its obligation to provide force protection. Accordingly, we believe that we are entitled to reimbursement by the Army for the amounts charged by our subcontractors, even if they incurred costs for PSCs. The Army appealed the decision. On June 12, 2017, we received a second ruling from the ASBCA that we are entitled to recover the withheld costs in the approximate amount of $45 million plus interest related to the use of PSCs. The Army filed a notice of appeal on October 12, 2017 and filed its brief on April 10, 2018. We responded and the Army filed its final brief in June. Oral arguments are expected to occur later this year. At this time, we believe the likelihood that we will incur a loss related to this matter is remote, and therefore we have not accrued any loss provisions related to this matter. Investigations, Qui Tams and Litigation The following matters relate to ongoing litigation or federal investigations involving U.S. government contracts. Many of these matters involve allegations of violations of the FCA, which prohibits in general terms fraudulent billings to the U.S. government. Suits brought by private individuals are called "qui tams." We believe the costs of litigation and any damages that may be awarded in the FKTC and Burn Pit matters described below are billable under the LogCAP III contract and that any such costs or damages awarded in the Sodium Dichromate matter, which is now resolved and is described in our 2017 Annual Report on Form 10-K, are billable under the RIO contract and a related indemnity agreement with the U.S. government. All costs billed under LogCAP III or RIO are subject to audit by the DCAA for reasonableness. First Kuwaiti Trading Company arbitration. In April 2008, FKTC, one of our LogCAP III subcontractors providing housing containers, filed for arbitration with the American Arbitration Association all its claims under various LogCAP III subcontracts. After complete hearings on all claims, the arbitration panel awarded FKTC $17 million plus interest for claims involving damages on lost or unreturned vehicles. In addition, we determined that we owe FKTC $32 million in connection with other subcontracts. We paid FKTC $19 million and will pay $4 million on pay-when-paid terms in the contract. We have accrued amounts we believe are payable to FKTC in "Accounts payable" and "Other current liabilities" on our condensed consolidated balance sheets. The remaining $26 million owed to FKTC under the contract has not been billed to the government and we will not do so until the related claims and disputes between KBR and the government over the FKTC living container contract are resolved (see KBR Contract Claim on FKTC containers below). At this time, we believe the likelihood that we would incur a loss related to this matter in excess of the amounts we have accrued is remote. Burn Pit litigation. Since November 2008, KBR has been served with more than 60 lawsuits in various states alleging exposure to toxic materials resulting from the operation of burn pits in Iraq or Afghanistan in connection with services provided by KBR under the LogCAP III contract. These suits were consolidated in U.S. Federal District Court in Greenbelt, Maryland. The plaintiffs claimed unspecified damages. On January 13, 2017, KBR filed a renewed motion to dismiss and for summary judgment. On July 19, 2017, the trial court issued its ruling granting KBR’s motions to dismiss on jurisdictional ground and for summary judgment. In lengthy fact findings, the Court concluded that the military made all the relevant decisions about the use, location and operation of burn pits. The plaintiffs filed a notice of appeal, and the cases are now pending before the U.S. Court of Appeals for the Fourth Circuit. All briefing has been filed and oral argument took place on May 9, 2018. On June 20, 2018, the Fourth Circuit Court of Appeals affirmed the District Court's dismissal. We anticipate that plaintiffs will consider filing an application for writ of certiorari to the U.S. Supreme Court. At this time, we believe the likelihood that we would incur a loss related to this matter is remote. As of June 30, 2018, no amounts have been accrued. Qui tams. We have two qui tam or FCA cases pending, one of which has been joined by the U.S. government (see DOJ False Claims Act complaint - Iraq Subcontractor below) and one qui tam case that was concluded in the first quarter. At this time, we believe the likelihood that we would incur a loss in the qui tams the U.S. government has not joined is remote and as of June 30, 2018 , no amounts have been accrued. Costs incurred in defending the qui tams cannot be billed to the U.S. government until those matters are successfully resolved in our favor. If successfully resolved, we can bill 80% of the costs to the U.S. government under federal regulations. As of June 30, 2018 , we have incurred and expensed $4 million in legal costs incurred in defending ourselves in qui tams. These cases are discussed below: Barko qui tam. Relator Harry Barko, a KBR subcontracts administrator in Iraq for a year in 2004/2005, filed a qui tam lawsuit in June 2005 in the U.S. District Court for the District of Columbia, alleging violations of the FCA by KBR and its subcontractors Daoud & Partners and Eamar Combined for General Trading and Contracting. The DOJ investigated Barko's allegations and elected not to intervene. The claim was unsealed in March of 2009. On March 14, 2017, the Court granted KBR's motion for summary judgment and dismissed the case. The plaintiff filed a notice of appeal and oral argument on the appeal took place in early December 2017. On December 27, 2017, the Court of Appeals issued its decision confirming the trial court's granting of KBR's motion for summary judgment. The Relator did not file an application for writ of certiorari to the U.S. Supreme Court and the time for such a filing has expired. The resolution of this matter did not have a material impact to our condensed consolidated financial statements. Howard qui tam. In March 2011, Geoffrey Howard and Zella Hemphill filed a complaint in the U.S. District Court for the Central District of Illinois alleging that KBR mischarged the U.S. government $628 million for unnecessary materials and equipment. In October 2014, the DOJ declined to intervene and the case was partially unsealed. Discovery is ongoing in this case and is expected to continue into 2019. As of June 30, 2018, no amounts have been accrued. DOJ False Claims Act complaint - Iraq Subcontractor. In January 2014, the DOJ filed a complaint in the U.S. District Court for the Central District of Illinois against KBR and two former KBR subcontractors, including FKTC, alleging that three former KBR employees were offered and accepted kickbacks from these subcontractors in exchange for favorable treatment in the award and performance of subcontracts to be awarded during the course of KBR's performance of the LogCAP III contract in Iraq. The complaint alleges that as a result of the kickbacks, KBR submitted invoices with inflated or unjustified subcontract prices, resulting in alleged violations of the FCA and the Anti-Kickback Act. The DOJ's investigation dates back to 2004. We self-reported most of the violations and tendered credits to the U.S. government as appropriate. On May 22, 2014, FKTC filed a motion to dismiss, which the U.S. government opposed. Following the submission of our answer in April 2014, the U.S. government was granted a Motion to Strike certain affirmative defenses in March 2015. We do not believe this limits KBR's ability to fully defend all allegations in this matter. As of June 30, 2018 , we have accrued our best estimate of probable loss related to an unfavorable settlement of this matter in "Other liabilities" on our condensed consolidated balance sheets. At this time, we believe the likelihood that we would incur a loss related to this matter in excess of the amounts we have accrued is remote. Discovery in the case has been extended to October 2018 and no trial date has been set. Other matters KBR Contract Claim on FKTC containers.

Other Commitments And Contingen

Other Commitments And Contingencies	6 Months Ended
	Jun. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Other Commitments and Contingencies	Other Commitments and Contingencies Litigation and regulatory matters related to the Company’s restatement of its 2013 annual financial statements Butorin v. Blount et al , is a May 2014 shareholder derivative complaint pending in the U.S. District Court of Delaware and filed on behalf of the Company naming certain current and former members of the Company's board of directors as defendants and the Company as a nominal defendant. The complaint alleges that the named directors breached their fiduciary duties by permitting the Company's internal controls to be inadequate. KBR has filed a Motion to Dismiss, to which the derivative plaintiff has responded. At this time, we are not yet able to determine the likelihood of loss, if any, arising from this matter. We also received requests for information and a subpoena for documents from the SEC in 2014 regarding the restatement of our 2013 annual financial statements. We reached a settlement with the SEC in July 2018 which was accrued in "Other current liabilities" on our condensed consolidated balance sheets as of June 30, 2018. The settlement did not have a material impact on our financial statements. Other matters Unaoil Investigation. The DOJ, SEC, and the SFO are conducting investigations of Unaoil, a Monaco based company, in relation to international projects involving several global companies, including KBR, whose interactions with Unaoil are a subject of those investigations. KBR believes it is cooperating with the DOJ, SEC, and the SFO in their investigations, including through the voluntary submission of information and responding to formal document requests. In re KBR, Inc. Securities Litigation. On October 20, 2017, lead plaintiffs filed an amended consolidated complaint asserting violations of the federal securities laws in connection with KBR's disclosures associated with the U.K. Serious Fraud Office's ("SFO") investigations of KBR and its affiliates relating to Unaoil. The Company and individual defendants filed a motion to dismiss the lawsuit on December 4, 2017. Briefing on the motion to dismiss was completed on February 19, 2018. At this time we are not yet able to determine the likelihood of loss, if any, arising from this matter. Tisnado vs DuPont, et al. In May 2016, KBR was served with a Fourth Amended Petition in Intervention and was brought into a lawsuit which was originally filed on November 14, 2014, in the 11th Judicial District Court of Harris County, Texas. This suit was brought by the family members of persons who died in an incident at the DuPont plant in LaPorte, Texas. We reached a settlement with the plaintiffs in 2018. This settlement was covered by insurance and did not have a material impact to our financial statements. This matter is now resolved. PEMEX and PEP arbitration On April 6, 2017, we entered into a settlement agreement with PEMEX and PEP related to a dispute from 2004. The settlement provided for a cash payment to Commisa of $435 million , payment by PEP of all VAT related to the settlement amount and mutual dismissals and releases of all claims related to the EPC 1 project. This matter is resolved and all amounts were paid by PEP in April 2017. As a result of the final settlement, we recognized additional revenues and gross profit of $35 million for the three and six months ended June 30, 2017

Ichthys LNG Project

Ichthys LNG Project	6 Months Ended
	Jun. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Ichthys LNG Project	Ichthys LNG Project We have a 30% interest in the JKC JV, which has contracted to perform the engineering, procurement, supply, construction and commissioning of onshore LNG facilities for a client in Darwin, Australia the Ichthys LNG Project. The contract between JKC and its client is a hybrid contract containing both cost-reimbursable and fixed-price (including unit-rate) scopes. JKC has entered into commercial contracts with multiple suppliers and subcontractors to execute various scopes of work on the project. Certain of these suppliers and subcontractors have made contract claims against JKC for recovery of costs and extensions of time in order to progress the works under the scope of their respective contracts due to a variety of issues related to changes to the scope of work, delays and lower than planned subcontractor productivity. In addition, JKC has incurred costs related to scope increases and other factors, and has made claims to its client for matters for which JKC believes reimbursement is entitled under the contract. As discussed below, the additional costs associated with these various claims and related issues have been included in determining estimated profit at completion. Estimated recoveries associated with the additional change orders, customer claims, and claims against suppliers and subcontractors have also been included in determining estimated profit at completion. Further, there are additional claims we believe our joint venture is entitled to recover from the client and subcontractors related to additional project costs which have been excluded from estimated revenues at completion as appropriate under U.S. GAAP. Cost Reimbursable Scope JKC believes any amounts paid or payable to the suppliers and subcontractors in settlement of their contract claims related to cost-reimbursable scope are an adjustment to the contract price, and accordingly JKC has made claims for contract price adjustments under the reimbursable portion of the contract between JKC and its client. However, the client has disputed some of these contract price adjustments and change orders. Those disputed change orders remain unapproved. In order to facilitate the continuation of work under the contract while we work to resolve this dispute, the client agreed to a contractual mechanism (“Deed of Settlement”) in 2016 providing funding in the form of an interim contract price adjustment to JKC for settlement of subcontractor claims as of that date related to the cost-reimbursable scope. While the client reserved its rights under this funding mechanism, those unapproved change orders have accordingly been paid by the client. JKC in turn settled these subcontractor claims which have been funded through the Deed of Settlement by the client. If JKC's claims against its client which were funded under the Deed of Settlement remain unresolved by December 31, 2020, JKC will be required to refund sums funded by the client under the terms of the Deed of Settlement. We, along with our joint venture partners, are jointly and severally liable to the client for any amounts required to be refunded. While JKC continues to pursue settlement of these disputes with the client, JKC has initiated proceedings and is planning other arbitrations against the client to resolve these open reimbursable supplier and subcontractor claims prior to December 31, 2020. Our proportionate share of the total amount of the contract price adjustments under the Deed of Settlement, included in the unapproved change orders and claims related to our unconsolidated affiliates discussed above is $168 million and $177 million as of June 30, 2018 and December 31, 2017 , respectively. In September and October 2017, additional change orders pertaining to suppliers and subcontractors under the cost reimbursable portion of the contract were presented to the client. The client funded these change orders, but did not formally approve them as contract price adjustments and have reserved its rights. JKC in turn settled these change orders with the associated suppliers and subcontractors. The formal contract price adjustment for these settlements remained pending at June 30, 2018 , but there is no requirement to refund these amounts to the client by a date certain, unlike amounts funded under the Deed of Settlement. There has been deterioration of paint on certain exterior areas of the plant. The client has requested, and is funding, paint remediation for a portion of the facilities. JKC and its client have not yet resolved the portions of other affected areas that may need to be remediated. JKC’s profit estimate at completion includes those revenues and costs for remediation activities that it has been directed to perform and are being funded by the client. JKC is entitled to an amount of profit and overhead (“TRC Fee”) which is a fixed percentage of the target reimbursable costs ("TRC") under the reimbursable component of the contract which was to be agreed by JKC and its client. At the time of the contract, JKC and its client agreed to postpone the fixing of the TRC until after a specific milestone in the project had been achieved. Although the milestone was achieved, JKC and its client have been unable to reach agreement on the TRC. This matter was taken to arbitration in 2017. A decision was issued in December 2017 which provided some basis for determination of the TRC amount and the TRC Fee. JKC has included an estimate for the TRC Fee in its determination of profit at completion at December 31, 2017 based on the contract provisions and the decision from the December 2017 arbitration. If the above matters are not resolved for the amounts recorded, or to the extent JKC is unsuccessful in retaining amounts paid to it under the Deed of Settlement and other funding mechanisms used by the client, we would be responsible for our pro-rata portion of any additional costs and refunded sums in excess of the final adjusted contract price, which could have a material adverse effect on our results of operations, financial position and cash flows. Additionally, to the extent the client does not continue to provide adequate funding for project activities prior to resolution of these matters, the joint venture partners will be required to fund working capital requirements of JKC in the near term which could have a material adverse effect on our financial position and cash flows. Fixed-Price Scope Pursuant to JKC's fixed-price scope of its contract with its client, JKC awarded a fixed-price EPC contract to a subcontractor for the design, construction and commissioning of a combined cycle power plant ("Power Plant"). The subcontractor was a consortium consisting of General Electric and GE Electrical International Inc. and a joint venture between UGL Infrastructure Pty Limited and CH2M Hill (collectively, the "Consortium"). On January 25, 2017, JKC received a Notice of Termination from the Consortium, and the Consortium ceased work on the Power Plant. JKC believes the Consortium breached its contract and repudiated its obligation to complete the Power Plant, plus undertook actions making it more difficult and more costly for the works to be completed by others after the Consortium abandoned the site. Subsequently, the Consortium filed a request for arbitration with the ICC asserting that JKC was in repudiatory breach of the contract. JKC has responded to this request, denying JKC committed any breach of its contract with the Consortium and restated its claim that the Consortium breached and repudiated its contract with JKC and is furthermore liable to JKC for all costs to complete the Power Plant. JKC prevailed in a legal action against the Consortium requiring the return of materials, drawings and tools following their unauthorized removal from the site. JKC discovered incomplete and defective engineering designs, defective workmanship on the site, missing, underreported and defective materials; and the improper termination of key vendors/suppliers. As a result, project progress claimed by the Consortium was over reported. JKC has evaluated the cost to complete the Consortium's work, which significantly exceeds the awarded fixed-price subcontract value. JKC cost to complete the Power Plant includes re-design efforts, additional materials and significant re-work represent estimated recoveries of claims against suppliers and subcontractors and have been included in JKC's estimate to complete the Consortium's remaining obligations. JKC is pursuing recourse against the Consortium to recover all of the costs to complete the Power Plant, plus the additional interest, liquidated damages and other related costs, by means inclusive of calling parent guarantees provided by the Consortium partners. In April 2018, JKC prevailed in its legal action to call the Consortium's bank guarantees (bonds) and received the funds. Each of the Consortium partners has joint and several liability with respect to all obligations under the subcontract. Estimated costs to complete the Power Plant that have been determined to be probable of recovery from the Consortium under U.S. GAAP have been included as a reduction of cost in our estimate of profit at completion. The estimated recoveries exclude interest, liquidated damages and other related costs which JKC intends to pursue recovery from the Consortium. On November 30, 2017, JKC made a notification of claim to the Consortium in the amount of $1.7 billion for recovery of these expected costs. The arbitration hearing has been set for October 2019 and we expect a decision in the first half of 2020. To the extent JKC is unsuccessful in prevailing in the Arbitration and in recovering costs to complete the Power Plant, we would be responsible for our pro-rata portion of unrecovered costs from the Consortium. This could have a material adverse impact on the profit at completion of the contract and thus on our consolidated statements of operations, financial position and cash flow. Additionally, to the extent JKC does not resolve this matter with the Consortium in the near term, the joint venture partners will be required to fund JKC's completion of the combined cycle power plant which could have a material adverse effect on our financial position and cash flows. Our proportionate share of unapproved change orders, customer claims and estimated recoveries of claims against suppliers and subcontractors related to JKC included in determining estimated profit at completion of the contract are included in the amounts disclosed in Note 9 to our consolidated financial statements.

Shareholders' Equity

Shareholders' Equity	6 Months Ended
	Jun. 30, 2018
Equity [Abstract]
Shareholders' Equity	Shareholders’ Equity The following tables summarize our activity in shareholders’ equity: Dollars in millions Total PIC Retained Earnings Treasury Stock AOCL NCI Balance at December 31, 2017 $ 1,221 $ 2,091 $ 877 $ (818 ) $ (921 ) $ (8 ) Cumulative effect of change in accounting policy, net of tax of $6 144 — 144 — — — Adjusted balance at January 1, 2018 1,365 2,091 1,021 (818 ) (921 ) (8 ) Consolidation and acquisition of noncontrolling in Aspire entities (see Note 5) 74 74 — — — — Share-based compensation 6 6 — — — — Dividends declared to shareholders (22 ) — (22 ) — — — Repurchases of common stock (3 ) — — (3 ) — — Issuance of ESPP shares 2 — — 2 — — Other noncontrolling interests activity 1 — — — — 1 Net income 201 — 180 — — 21 Other comprehensive income, net of tax (14 ) — — — (14 ) — Balance at June 30, 2018 $ 1,610 $ 2,171 $ 1,179 $ (819 ) $ (935 ) $ 14 Dollars in millions Total PIC Retained Treasury AOCL NCI Balance at December 31, 2016 $ 745 $ 2,088 $ 488 $ (769 ) $ (1,050 ) $ (12 ) Share-based compensation 5 5 — — — — Dividends declared to shareholders (22 ) — (22 ) — — — Repurchases of common stock (52 ) — — (52 ) — — Issuance of ESPP shares 1 — — 1 — — Distributions to noncontrolling interests (1 ) — — — — (1 ) Net income 117 — 114 — — 3 Other comprehensive income, net of tax 18 — — — 20 (2 ) Balance at June 30, 2017 $ 811 $ 2,093 $ 580 $ (820 ) $ (1,030 ) $ (12 ) Accumulated other comprehensive loss, net of tax June 30, Dollars in millions 2018 2017 Accumulated foreign currency translation adjustments, net of tax of $1 and $3 $ (281 ) $ (255 ) Pension and post-retirement benefits, net of tax of $225 and $251 (647 ) (772 ) Fair value of derivatives, net of tax of $0 and $0 (7 ) (3 ) Total accumulated other comprehensive loss $ (935 ) $ (1,030 ) Changes in accumulated other comprehensive loss, net of tax, by component Dollars in millions Accumulated foreign currency translation adjustments Accumulated pension liability adjustments Changes in fair value of derivatives Total Balance at December 31, 2017 $ (258 ) $ (660 ) $ (3 ) $ (921 ) Other comprehensive income adjustments before reclassifications (28 ) — (4 ) (32 ) Amounts reclassified from accumulated other comprehensive income 5 13 — 18 Balance at June 30, 2018 $ (281 ) $ (647 ) $ (7 ) $ (935 ) Dollars in millions Accumulated foreign currency translation adjustments Accumulated pension liability adjustments Changes in fair value of derivatives Total Balance at December 31, 2016 $ (262 ) $ (785 ) $ (3 ) $ (1,050 ) Other comprehensive income adjustments before reclassifications 7 — — 7 Amounts reclassified from accumulated other comprehensive income — 13 — 13 Balance at June 30, 2017 $ (255 ) $ (772 ) $ (3 ) $ (1,030 ) Reclassifications out of accumulated other comprehensive loss, net of tax, by component Six Months Ended June 30, Dollars in millions 2018 2017 Affected line item on the Condensed Consolidated Statements of Operations Accumulated pension liability adjustments Amortization of actuarial loss (a) $ (15 ) $ (16 ) See (a) below Tax benefit 2 3 Provision for income taxes Net pension and post-retirement benefits $ (13 ) $ (13 ) Net of tax (a) This item is included in the computation of net periodic pension cost. See Note 13 to our condensed consolidated financial statements for further discussion. Six Months Ended June 30, Dollars in millions 2018 2017 Affected line item on the Condensed Consolidated Statements of Operations Accumulated foreign currency adjustments Reclassification of foreign currency adjustments $ (5 ) $ — Gain on consolidation of Aspire entities Tax benefit — — Provision for income taxes Net accumulated foreign currency $ (5 ) $ — Net of tax

Share Repurchases

Share Repurchases	6 Months Ended
	Jun. 30, 2018
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 common shares, which replaced and terminated the August 26, 2011 share repurchase program. The authorization does not obligate the Company to acquire any particular number of common shares 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 and the authorization does not have an expiration date. Withheld to Cover Program In addition to the plans above, we also 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 these programs: Three Months Ended Six Months Ended June 30, 2018 June 30, 2018 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 16,321 $ 18.14 — 170,606 $ 15.69 3 Total 16,321 $ 18.14 $ — 170,606 $ 15.69 $ 3 Three Months Ended Six Months Ended June 30, 2017 June 30, 2017 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 3,345,366 $ 14.93 $ 50 3,345,366 $ 14.93 $ 50 Withheld to cover shares 15,475 $ 14.45 — 165,143 $ 15.08 2 Total 3,360,841 $ 14.92 $ 50 3,510,509 $ 14.93 $ 52

Income per Share

Income per Share	6 Months Ended
	Jun. 30, 2018
Earnings Per Share [Abstract]
Income per Share	Income per Share Basic income per share is based upon the weighted average number of common shares outstanding during the period. Dilutive income per share includes additional common shares that would have been outstanding if potential common shares with a dilutive effect had been issued using the treasury stock method. A reconciliation of the number of shares used for the basic and diluted income per share calculations is as follows: Three Months Ended June 30, Six Months Ended June 30, Shares in millions 2018 2017 2018 2017 Basic weighted average common shares outstanding 140 141 140 142 Stock options and restricted shares 1 — 1 — Diluted weighted average common shares outstanding 141 141 141 142 For purposes of applying the two-class method in computing income per share, there were $0.3 million and $1.1 million net earnings allocated to participating securities, or a negligible amount per share and $0.01 per share, for the three and six months ended June 30, 2018 , respectively. Net earnings allocated to participating securities for the three and six months ended June 30, 2017 were $0.6 million and $0.8 million , or a negligible amount per share, respectively. The diluted income per share calculation did not include 1.7 million and 1.7 million antidilutive weighted average shares for the three and six months ended June 30, 2018 , respectively. The diluted income per share calculation did not include 2.3 million and 2.4 million antidilutive weighted average shares for the three and six months ended June 30, 2017

Financial Instruments And Risk

Financial Instruments And Risk Management	6 Months Ended
	Jun. 30, 2018
Fair Value Disclosures [Abstract]
Financial Instruments And Risk Management	Financial Instruments and Risk Management Foreign currency risk. We conduct business globally in numerous currencies and are therefore exposed to foreign currency fluctuations. We may use derivative instruments to reduce the volatility of earnings and cash flows associated with changes in foreign currency exchange rates. We do not use derivative instruments for speculative trading purposes. We generally utilize foreign exchange forwards and currency option contracts to hedge exposures associated with forecasted future cash flows and to hedge exposures present on our balance sheet. As of June 30, 2018 , the gross notional value of our foreign currency exchange forwards and option contracts used to hedge balance sheet exposures was $69 million , all of which had durations of 11 days or less. We also had approximately $181 million (gross notional value) of cash flow hedges which had durations of approximately 25 months or less. The cash flow hedges are primarily related to the British Pound and Australian Dollar. The Australian Dollar hedges are primarily utilized to reduce the volatility of cash flows associated with the forecasted funding of JKC in Australian Dollars. The fair value of our balance sheet and cash flow hedges included in "Other current assets" and "Other current liabilities" on our condensed consolidated balance sheets was immaterial at June 30, 2018 and December 31, 2017 . The fair values of these derivatives are considered Level 2 under ASC 820, Fair Value Measurement, as they are based on quoted prices directly observable in active markets. The following table summarizes the recognized changes in fair value of our balance sheet hedges offset by remeasurement of balance sheet positions. These amounts are recognized in our condensed consolidated statements of operations for the periods presented. The net of our changes in fair value of hedges and the remeasurement of our assets and liabilities is included in "Other non-operating income (expense)" on our condensed consolidated statements of operations. Three Months Ended Six Months Ended June 30, June 30, Gains (losses) dollars in millions 2018 2017 2018 2017 Balance sheet hedges - fair value $ (1 ) $ 3 $ 1 $ 4 Balance sheet position - remeasurement 2 (4 ) (6 ) (11 ) Net $ 1 $ (1 ) $ (5 ) $ (7 )

Recent Accounting Pronouncement

Recent Accounting Pronouncements	6 Months Ended
	Jun. 30, 2018
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements In August 2017, the FASB issued ASU No. 2017-12, Derivatives and Hedging (Topic 815) - Targeted Improvements to Accounting for Hedge Activities. This ASU is intended to improve and simplify accounting rules around hedge accounting. This ASU is effective for annual periods beginning after December 15, 2018 and interim periods within those annual periods. Early adoption is permitted. We do not expect adoption of this ASU to be material to our ongoing financial reporting or on known trends, demand, uncertainties and events in our business. In January 2017, the FASB issued ASU No. 2017-04, Intangibles - Goodwill and Other (Topic 350) - Simplifying the Test for Goodwill Impairment. This ASU eliminates Step 2 from the goodwill impairment test. In addition, income tax effects from any tax deductible goodwill on the carrying amount of the reporting unit should be considered when measuring the goodwill impairment loss, if applicable. The amendments also eliminate the requirements for any reporting unit with a zero or negative carrying amount to perform a qualitative assessment and, if it fails that qualitative test, to perform Step 2 of the goodwill impairment test. An entity still has the option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary. This ASU is effective for annual periods beginning after December 15, 2019 and interim periods within those annual periods. Early adoption is permitted, for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. We do not expect adoption of this ASU to be material to our ongoing financial reporting or on known trends, demands, uncertainties and events in our business. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326) - Measurement of Credit Losses on Financial Instruments. This ASU requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable supportable forecast and is effective for annual periods beginning after December 15, 2019 and interim periods within those annual periods. Early adoption is permitted for annual periods after December 15, 2018, including interim periods within those annual periods. We are currently in the process of assessing the impact of this ASU on our financial statements. We have not yet determined the effect of the standard on our ongoing financial reporting or the future impact of adoption on known trends, demands, uncertainties and events in our business.

Significant Accounting Polici31

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
Principles of consolidation	Principles of Consolidation Our condensed consolidated financial statements have been prepared in accordance with U.S. GAAP and include the accounts of KBR and our wholly owned and majority-owned subsidiaries and VIEs of which we are the primary beneficiary. We account for investments over which we have significant influence but not a controlling financial interest using the equity method of accounting. See Note 12 to our condensed consolidated financial statements for further discussion on our equity investments and VIEs. The cost method is used when we do not have the ability to exert significant influence. All material intercompany balances and transactions are eliminated in consolidation. Amounts classified as "Costs and estimated earnings in excess of billings on uncompleted contracts" and "Billings in excess of costs and estimated earnings on uncompleted contracts" on the consolidated balance sheets of our Annual Report on Form 10-K for the year ended December 31, 2017 have been reclassified as "Contract assets" and "Contract liabilities" on the condensed consolidated balance sheets.
Use of estimates	Use of Estimates The preparation of our condensed consolidated financial statements in conformity with U.S. GAAP requires us to make estimates, assumptions and judgments that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Areas requiring significant estimates and assumptions by our management include but are not limited to the following: • project revenues, costs and profits on engineering and construction contracts, including recognition of estimated losses on uncompleted contracts • project revenues, award fees, costs and profits on government services contracts • provisions for uncollectible receivables • provisions for client claims and recoveries of costs from subcontractors, vendors and others • provisions for income taxes and related valuation allowances and tax uncertainties • recoverability of goodwill • recoverability of other intangibles and long-lived assets and related estimated lives • recoverability of equity method and cost method investments • valuation of pension obligations and pension assets • accruals for estimated liabilities, including litigation accruals • consolidation of VIEs • valuation of share-based compensation • valuation of assets and liabilities acquired in business combinations
Revenue Recognition	Revenue Recognition Revenue is measured based on the amount of consideration specified in a contract with a customer. Revenue is recognized when and as our performance obligations under the terms of the contract are satisfied which generally occurs with the transfer of control of the goods or services to the customer. To determine the proper revenue recognition method for contracts, we evaluate whether two or more contracts should be combined and accounted for as one single contract and whether the combined or single contract should be accounted for as more than one performance obligation. This evaluation requires significant judgment and the decision to combine a group of contracts or separate a combined or single contract into multiple performance obligations could change the amount of revenue and profit recorded in a given period. Contracts are considered to have a single performance obligation if the promise to transfer the individual goods or services is not separately identifiable from other promises in the contracts, which is mainly because we provide a significant service of integrating a complex set of tasks and components into a single project or capability. Contracts that cover multiple phases of the product lifecycle (development, construction and maintenance & support) are typically considered to have multiple performance obligations even when they are part of a single contract. For contracts with multiple performance obligations, we allocate the transaction price to each performance obligation using our best estimate of the standalone selling price of each distinct good or service in the contract. In cases where we do not provide the distinct good or service on a standalone basis, the primary method used to estimate standalone selling price is the expected cost plus a margin approach, under which we forecast our expected costs of satisfying a performance obligation and then add an appropriate margin for that distinct good or service. We provide product warranties to customers that are included in the sale and are not priced or sold separately or do not provide customers with a service in addition to assurance of compliance with agreed-upon specifications. We do not consider these types of warranties to be separate performance obligations. The following is a description of the principal activities from which we generate revenues by reportable segment: Government Services For most of government services, the customer contracts with us to provide support solutions to defense, space, aviation and other programs and missions through long-term service contracts. The performance obligations related to these long-term service contracts are primarily created through the issuance of task orders by the customer because a service contract generally does not meet the criteria to be considered a contract under ASC 606 since it does not obligate the customer to issue any task orders and could be canceled without substantive penalty under termination for convenience clauses. Accordingly, each task order releases us to perform specific portions of the overall scope in the service contract and is typically accounted for as a separate contract because the task order establishes the enforceable rights and obligations, and payment terms. Task orders can include option periods that may be approved by the customer at a later date depending on the customer's future needs and budget availability. Many of our government services contracts include variable consideration consisting of base fees (a profit percentage applied to our target cost) or award fees (additional consideration based on performance criteria, subject to final customer approval). Variable consideration can also arise from modifications to the scope of services resulting in unapproved change orders or customer claims. Variable consideration is included in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur once the uncertainty associated with the variable consideration is resolved. Our estimates of variable consideration and determination of whether to include such amounts in the transaction price are based largely on our assessment of legal enforceability, performance and any other information (historical, current, and forecasted) that is reasonably available to us. Many of our government services contracts are for labor at agreed hourly rates on a cost reimbursable basis to the customer. These contracts are accounted for as a series of distinct services because (a) the labor is provided as a continuous service, (b) each time increment of labor provided is distinct, (c) the nature of the services provided is substantially the same, and (d) the pattern of transfer is the same. In these types of contracts, the entire amount of consideration is recognized as labor is provided. We also enter into base operations support contracts to provide the resources to operate bases, installations, camps, and stations of military departments. Our base operations support contracts are either fixed price contracts or cost reimbursable contracts. For fixed price contracts, we bill the customer a fixed monthly fee and recognize revenue over time on a straight-line basis where our level of effort remains substantially the same from month to month or where that is not the case, using a cost-to-cost input measure of progress as services are provided. For cost reimbursable contracts, we bill the customer all direct costs incurred each month plus an agreed provisional rate for overhead and fee which are finalized at a later date. Revenue for cost reimbursable contracts is recognized as the direct costs are incurred and billed because the base operations represent a series of distinct services and the direct costs are consistent with our level of effort each month. For the purpose of revenue recognition of the variable elements of the contracts, we apply the variable consideration considerations described above. Revenue on our other types of government services contracts is primarily recognized over time using the cost-to-cost input measure (e.g., costs incurred to date relative to total estimated costs at completion) to measure progress because it best depicts the transfer of assets to the customer which occurs as we incur costs on the contracts. Contract costs include actual direct project costs incurred and an allocation of our indirect costs. Under the typical payment terms of our government services contracts, amounts are billed as work progresses in accordance with agreed-upon contractual terms, either at periodic intervals (e.g., biweekly or monthly) or upon achievement of contractual milestones. Hydrocarbons Services For most of our hydrocarbons services projects, the customer contracts with us to provide a significant service of integrating a complex set of tasks and components into a single project or capability and are therefore accounted for as single performance obligations. It is common for our hydrocarbons services contracts to contain incentive fees, performance bonuses, penalties (liquidated damages) or other provisions, including claims and change orders, that may either increase or decrease the transaction price. Incentives and other performance bonuses generally are awarded upon achievement of certain performance metrics, program milestones or cost targets. Liquidated damage penalties in our contracts are generally capped at a percentage of the total contract value. Liquidated damages may be related to schedule delays, (typically calculated based on a daily rate), or tied to performance guarantees. Substantially all of our performance obligations related to hydrocarbons services contracts are satisfied over time as work progresses due to the continuous transfer of control to the customer. Typically, revenue is recognized over time using the cost-to-cost input measure to measure progress because it best depicts the transfer of goods and services to the customer which occurs as we incur costs on our contracts. Contract costs include all direct material and labor costs and those indirect costs related to contract performance. Indirect costs, included in cost of revenues, include charges for such items as facilities, engineering, project management, quality control, bids and proposals and procurement. Under the typical payment terms of our hydrocarbons services contracts, the customer makes advance payments as well as interim payments as work progresses. The advance payment generally is not considered a significant financing component as we normally expect to recognize the advance payments in revenue within a year of receipt as work progresses on the related performance obligation. Technology Our technology contracts consist primarily of licensing, basic engineering design (together, the "LBED"), proprietary equipment ("PEQ") or catalyst contracts. LBED contracts are combined into one performance obligation as they are entered into at the same time and the licensed technology requires engineering and design. We may further combine LBED and PEQ contracts into one performance obligation if the contracts were negotiated as a package with a single commercial objective, and the customer contracts with us to provide a significant service of integrating these distinct goods and services into a single project or capability. It is common for our technology contracts to contain variable consideration including contingent milestone payments and penalties (liquidated damages) that may increase or decrease the transaction price. Contingent milestone payments are primarily related to decisions made by the customer after the LBED has been completed, such as go or no-go decision on the project. Liquidated damage penalties in our technology contracts are typically calculated based on a weekly rate and are capped at a percentage of the total contract value. Substantially all of our performance obligations related to technology contracts are satisfied over time as work progresses. Typically, revenue is recognized over time using the cost-to-cost input measure to measure progress because it best depicts the transfer of assets to the customer which occurs as we incur costs on our contracts. Contract costs include all direct material and labor costs and those indirect costs related to contract performance and are recognized as the performance obligation is satisfied. Under the typical payment terms of our technology contracts, the customer makes advance payments as well as interim payments as work progresses and certain progress milestones are met. The advance payment generally is not considered a significant financing component as we normally expect to recognize the advance payments in revenue within a year of receipt as work progresses on the related performance obligation. Contract Estimates Contract Modifications Due to the nature of the work required to be performed on many of our performance obligations, the estimation of total revenue and cost at completion is complex, subject to many variables and requires significant judgment. As a significant change in one or more of these estimates could affect the profitability of our contracts, we review and update our contract-related estimates regularly through a Company-wide disciplined project review process in which management reviews the progress and execution of our performance obligations and the estimate at completion (EAC). As part of this process, management reviews information including, but not limited to, any outstanding key contract matters, progress towards completion and the related program schedule and the related changes in estimates of revenues and costs. Management must make assumptions and estimates regarding labor productivity and availability, the complexity of the work to be performed, the cost and availability of materials, the performance of subcontractors, and the availability and timing of funding from the customer, among other variables. We recognize adjustments in estimated profit on contracts under the cumulative catch-up method. Under this method, the impact of the adjustment on profit recorded to date is recognized in the period the adjustment is identified. Revenue and profit in future periods of contract performance is recognized using the adjusted estimate. If at any time the estimate of contract profitability indicates an anticipated loss on the contract, we recognize the total loss in the period it is identified. Contracts are often modified to account for changes in contract specifications and requirements. We consider contract modifications to exist when the modification either creates new or changes the existing enforceable rights and obligations. Most of our contract modifications are for goods or services that are not distinct from existing contracts due to the significant integration provided in the context of the contract and are accounted for as if they were part of the original contract. The effect of a contract modification on the transaction price and our measure of progress for the performance obligation to which it relates, is recognized as an adjustment to revenue (either as an increase in or a reduction of revenue) on a cumulative catch-up basis. We account for contract modifications as a separate contract when the modification results in the promise to deliver additional goods or services that are distinct and the increase in price of the contract is for the same amount as the stand-alone selling price of the additional goods or services included in the modification. We estimate variable consideration at the most likely amount to which we expect to be entitled. Any variable consideration is included in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur once the uncertainty associated with the variable consideration is resolved. Our estimates of variable consideration and determination of whether to include such amounts in the transaction price are based largely on our assessment of legal enforceability, performance and any other information (historical, current, and forecasted) that is reasonably available to us. We allocate variable consideration entirely to a performance obligation or to a distinct good or service within a performance obligation if it relates specifically to our efforts to satisfy the performance obligation or transfer the distinct good or service, and the allocation depicts the amount of consideration to which we expect to be entitled.
Account receivable	Accounts receivable Accounts receivable are recorded based on contracted prices when we obtain an unconditional right to payment under the terms of our contracts.
Contract assets and liabilities	Contract assets and liabilities Billing practices are governed by the contract terms of each project based upon costs incurred, achievement of milestones or pre-agreed schedules. Billings do not necessarily correlate with revenue recognized using the cost-to-cost method of revenue recognition. Contract assets include unbilled amounts typically resulting from revenue under long-term contracts when the cost-to-cost method of revenue recognition is utilized and revenue recognized exceeds the amount billed to the customer, and right to payment is not unconditional. Contract liabilities consist of advance payments and billings in excess of revenue recognized and deferred revenue. Retainage, included in contract assets, represents the amounts withheld from billings by our clients pursuant to provisions in the contracts and may not be paid to us until the completion of specific tasks or the completion of the project and, in some instances, for even longer periods. Retainage may also be subject to restrictive conditions such as performance guarantees.
Acquisition and integration related costs	Acquisition and integration related costs

Description of Company And Si32

Description of Company And Significant Accounting Policies Additional Balance Sheet Disclosure (Tables)	6 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
Schedule of impact of adoption on our consolidated statement of operations, balance sheet and cash flows	We recognized the cumulative effect of initially applying ASC 606 as an adjustment to retained earnings in the balance sheet as of January 1, 2018 as follows: Balance at Adjustments Due to Balance at Dollars in millions December 31, 2017 ASC 606 January 1, 2018 Assets Accounts receivable $ 510 $ 157 $ 667 Contract assets 383 (191 ) 192 Other current assets 93 5 98 Equity in and advances to unconsolidated affiliates 387 87 474 Deferred income taxes 300 (6 ) 294 Other assets 124 1 125 Liabilities Contract liabilities 368 9 377 Deferred income from unconsolidated affiliates 101 (101 ) — Other liabilities 171 1 172 Equity Retained Earnings 877 144 1,021 The impact of adoption on our consolidated statement of operations, balance sheet and cash flows for the period ended June 30, 2018 was as follows: Three Months Ended June 30, 2018 As Balances Without Effect of Change Dollars in millions Reported Adoption of ASC 606 Higher/(Lower) Statement of Operations Revenues $ 1,267 $ 1,258 $ 9 Income before income taxes and noncontrolling interests 80 71 9 Net income 62 54 8 EPS Basic $ 0.30 $ 0.24 $ 0.06 Diluted $ 0.30 $ 0.24 $ 0.06 Six Months Ended June 30, 2018 As Balances Without Effect of Change Dollars in millions Reported Adoption of ASC 606 Higher/(Lower) Statement of Operations Revenues $ 2,305 $ 2,294 $ 11 Income before income taxes and noncontrolling interests 253 243 10 Net income 201 192 9 EPS Basic $ 1.28 $ 1.21 $ 0.07 Diluted $ 1.27 $ 1.21 $ 0.06 As of June 30, 2018 As Balances Without Effect of Change Dollars in millions Reported Adoption of ASC 606 Higher/(Lower) Assets Accounts receivable $ 779 $ 571 $ 208 Contract assets 248 463 (215 ) Other current assets 117 112 5 Equity in and advances to unconsolidated affiliates 622 617 5 Deferred income taxes 215 222 (7 ) Liabilities Contract liabilities 465 519 (54 ) Deferred income from unconsolidated affiliates — 99 (99 ) Equity Retained earnings 1,179 1,026 153 Accumulated other comprehensive loss (935 ) (931 ) (4 ) Six Months Ended June 30, 2018 As Balances Without Effect of Change Dollars in millions Reported Adoption of ASC 606 Higher/(Lower) Cash flows from operating activities Net income $ 201 $ 192 $ 9 Adjustments to reconcile net income to net cash provided by operating activities: Equity in earnings of unconsolidated affiliates (33 ) (32 ) (1 ) Deferred income tax (benefit) expense 34 33 1 Changes in operating assets and liabilities, net of acquired businesses: Accounts receivable, net of allowances for doubtful accounts (70 ) 138 (208 ) Contract assets (38 ) (254 ) 216 Contract liabilities (58 ) (41 ) (17 ) Total cash flows used in operating activities (36 ) (36 ) —
Components of other current liabilities on our condensed consolidated balance sheets	The components of "Other current liabilities" on our condensed consolidated balance sheets as of June 30, 2018 and December 31, 2017 are presented below: June 30, December 31, Dollars in millions 2018 2017 Current maturities of long-term debt $ 12 $ — Reserve for estimated losses on uncompleted contracts (a) 10 15 Retainage payable 31 30 Income taxes payable 16 17 Restructuring reserve 6 9 Taxes payable not based on income 8 11 Value-added tax payable 31 13 Insurance payable 4 9 Dividend payable 11 11 Other miscellaneous liabilities 32 42 Total other current liabilities $ 161 $ 157 (a) See Note 3 to our condensed consolidated financial statements for further discussion on significant reserves for estimated losses on uncompleted contracts.

Business Segment Information (T

Business Segment Information (Tables)	6 Months Ended
	Jun. 30, 2018
Segment Reporting [Abstract]
Schedule of operations by reportable segment	The following table presents revenues, gross profit (loss), equity in earnings of unconsolidated affiliates, and operating income (loss) by reporting segment. The prior year balances have been recast to reflect the change in segments as described in Note 1 to our condensed consolidated financial statements. Operations by Reportable Segment Three Months Ended Six Months Ended June 30, June 30, Dollars in millions 2018 2017 2018 2017 Revenues: Government Services $ 868 $ 543 $ 1,545 $ 1,058 Technology 72 70 134 136 Hydrocarbons Services 327 474 626 973 Subtotal 1,267 1,087 2,305 2,167 Non-strategic Business — 7 — 33 Total revenues $ 1,267 $ 1,094 $ 2,305 $ 2,200 Gross profit (loss): Government Services $ 71 $ 37 $ 123 $ 74 Technology 22 17 38 31 Hydrocarbons Services 37 55 52 88 Subtotal 130 109 213 193 Non-strategic Business — (1 ) (2 ) (3 ) Total gross profit $ 130 $ 108 $ 211 $ 190 Equity in earnings of unconsolidated affiliates: Government Services $ 6 $ 18 $ 14 $ 27 Hydrocarbons Services 4 14 19 14 Subtotal 10 32 33 41 Non-strategic Business — — — — Total equity in earnings of unconsolidated affiliates $ 10 $ 32 $ 33 $ 41 General and administrative expenses: Government Services $ (12 ) $ (6 ) $ (18 ) $ (12 ) Technology — (1 ) (1 ) (2 ) Hydrocarbons Services (8 ) (8 ) (15 ) (13 ) Other (21 ) (23 ) (42 ) (43 ) Subtotal (41 ) (38 ) (76 ) (70 ) Non-strategic Business — — — — Total general and administrative expenses $ (41 ) $ (38 ) $ (76 ) $ (70 ) Acquisition and integration related costs: Government Services $ (1 ) $ — $ (4 ) $ — Technology — — — — Hydrocarbons Services — — — — Other — — — — Subtotal (1 ) — (4 ) — Non-strategic Business — — — — Total acquisition and integration related costs $ (1 ) $ — $ (4 ) $ — Gain on disposition of assets: Government Services $ — $ — $ — $ — Technology — — — — Hydrocarbons Services — 1 — 5 Other — — — — Subtotal — 1 — 5 Non-strategic Business — — — — Total gain on disposition of assets $ — $ 1 $ — $ 5 Gain on consolidation of Aspire entities: Government Services $ — $ — $ 120 $ — Technology — — — — Hydrocarbons Services — — — — Other — — (5 ) — Subtotal — — 115 — Non-strategic Business — — — — Total gain on consolidation of Aspire entities $ — $ — $ 115 $ — Segment operating income (loss): Government Services $ 64 $ 48 $ 236 $ 88 Technology 21 16 36 29 Hydrocarbons Services 34 63 57 95 Other (21 ) (23 ) (48 ) (43 ) Subtotal 98 104 281 169 Non-strategic Business — (1 ) (2 ) (3 ) Total segment operating income (loss) $ 98 $ 103 $ 279 $ 166

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2018
Revenue from Contract with Customer [Abstract]
Schedule of disaggregation of revenue	Revenue by Service/Product line was as follows: Three Months Ended Six Months Ended June 30, June 30, Dollars in millions 2018 2018 By Service / Product Types Government Services Science and Space $ 169 $ 247 Engineering 302 554 Logistics 397 744 Total Government Services 868 1,545 Hydrocarbons Technology 72 134 Hydrocarbons Services Onshore 266 504 Offshore 25 49 Industrial Services 18 41 Consulting 18 32 Total Hydrocarbons Services 327 626 Total Hydrocarbons 399 760 Total net revenue $ 1,267 $ 2,305 Government Services revenue earned from key U.S. Government customers including U.S. DoD agencies and NASA was $637 million and $1.1 billion for the three and six months ended June 30, 2018 , respectively. Government Services revenue earned from non-U.S. Government customers including the U.K. MoD, the Australian Defence Force and others was $231 million and $416 million for the three and six months end June 30, 2018 , respectively. Revenue by geographic destination was as follows: Three Months Ended June 30, 2018 Hydrocarbons Total by Countries/Regions Dollars in millions Government Services Technology Hydrocarbons Services Total United States $ 431 $ 4 $ 125 $ 560 Middle East 183 4 31 218 Europe 208 13 52 273 Australia 15 — 95 110 Canada — — 4 4 Africa 20 5 4 29 China — 14 — 14 Other countries 11 32 16 59 Total net revenue $ 868 $ 72 $ 327 $ 1,267 Six Months Ended June 30, 2018 Hydrocarbons Total by Countries/Regions Dollars in millions Government Services Technology Hydrocarbons Services Total United States $ 745 $ 10 $ 251 $ 1,006 Middle East 348 11 61 420 Europe 364 21 98 483 Australia 28 1 167 196 Canada — 2 15 17 Africa 38 12 6 56 China — 35 — 35 Other countries 22 42 28 92 Total net revenue $ 1,545 $ 134 $ 626 $ 2,305 Many of our contracts contain both fixed price and cost reimbursable components. We define contract type based on the component that represents the majority of the contract. Revenue by contract type was as follows: Three Months Ended June 30, 2018 Hydrocarbons Dollars in millions Government Services Technology Hydrocarbons Services Total Fixed Price $ 283 $ 68 $ 48 $ 399 Cost Reimbursable 585 4 279 868 Total net revenue $ 868 $ 72 $ 327 $ 1,267 Six Months Ended June 30, 2018 Hydrocarbons Dollars in millions Government Services Technology Hydrocarbons Services Total Fixed Price $ 501 $ 127 $ 104 $ 732 Cost Reimbursable 1,044 7 522 1,573 Total net revenue $ 1,545 $ 134 $ 626 $ 2,305 We recognized revenue of $30 million and $31 million from performance obligations satisfied in previous periods for the three and six month periods ended June 30, 2018 , respectively. On June 30, 2018 , we had $10.1 billion of transaction price allocated to remaining performance obligations. We expect to recognize approximately 31% of our remaining performance obligations as revenue within one year , 23% in years two through five , and 46% thereafter. Revenue associated with our remaining performance obligations to be recognized beyond one year includes performance obligations related to Aspire Defence and Fasttrax projects, which have contract terms extending through 2041 and 2023, respectively. The balance of remaining performance obligations does not include variable consideration that was determined to be constrained as of June 30, 2018

Acquisitions, Dispositions an35

Acquisitions, Dispositions and Other Transactions (Tables)	6 Months Ended
	Jun. 30, 2018
Business Combinations [Abstract]
Schedule of Fair Value of Assets Acquired and Liabilities Assumed	The following table summarizes the consideration paid for this acquisition and the fair value of the assets acquired and liabilities assumed as of the acquisition date. Dollars in millions SGT Fair value of total consideration transferred $ 368 Recognized amounts of identifiable assets acquired and liabilities assumed: Cash and equivalents 11 Accounts receivable 52 Contract assets 21 Other current assets 2 Total current assets 86 Property, plant and equipment, net 2 Equity in and advances to unconsolidated affiliates 2 Intangible assets 74 Deferred income taxes 6 Other assets 8 Total assets 178 Accounts payable 27 Contract liabilities 6 Accrued salaries, wages and benefits 28 Other current liabilities 5 Total current liabilities 66 Employee compensation and benefits 2 Other liabilities 2 Total liabilities 70 Goodwill $ 260 Dollars in millions Aspire Fair value of Aspire Defence subcontracting entities $ 240 Recognized amounts of identifiable assets acquired and liabilities assumed: Cash and equivalents 197 Accounts receivable 4 Other current assets 12 Total current assets 213 Property, plant and equipment, net 9 Intangible assets 253 Other assets — Total assets 475 Accounts payable 52 Contract liabilities 161 Accrued salaries, wages and benefits 1 Other current liabilities 21 Total current liabilities 235 Deferred income taxes 43 Other liabilities 2 Total liabilities 280 Goodwill $ 45
Schedule of Pro Forma Information	The following supplemental pro forma condensed consolidated results of operations assume that SGT and the Aspire Defence subcontracting joint ventures had been acquired as of January 1, 2017. The supplemental pro forma information was prepared based on the historical financial information of SGT and the Aspire Defence subcontracting joint ventures and has been adjusted to give effect to pro forma adjustments that are both directly attributable to the transaction and factually supportable. Pro forma adjustments were primarily related to the amortization of intangibles, interest on borrowings related to the acquisitions, and the reclassification of the gain on consolidation of the Aspire entities to January 1, 2017. 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, 2017, nor is it indication of future results of operations. Three Months Ended June 30, Six Months Ended June 30, Dollars in millions 2018 2017 2018 2017 Revenue $ 1,291 $ 1,319 $ 2,453 $ 2,644 Net income attributable to KBR 42 87 86 207 Diluted earnings per share $ 0.30 $ 0.62 $ 0.61 $ 1.46

Cash and Equivalents (Tables)

Cash and Equivalents (Tables)	6 Months Ended
	Jun. 30, 2018
Cash and Cash Equivalents [Abstract]
The components of our cash and equivalents balance	The components of our cash and equivalents balance are as follows: June 30, 2018 Dollars in millions International (a) Domestic (b) Total Operating cash and equivalents $ 106 $ 87 $ 193 Short-term investments (c) 15 9 24 Cash and equivalents held in consolidated joint ventures and Aspire project entities 300 2 302 Total $ 421 $ 98 $ 519 December 31, 2017 Dollars in millions International (a) Domestic (b) Total Operating cash and equivalents $ 112 $ 124 $ 236 Short-term investments (c) 82 60 142 Cash and equivalents held in consolidated joint ventures 59 2 61 Total $ 253 $ 186 $ 439 (a) Includes deposits held in non-U.S. operating accounts. (b) Includes U.S. dollar and foreign currency deposits held in operating accounts that constitute onshore cash for tax purposes but may reside either in the U.S. or in a foreign country. (c)

Accounts Receivable (Tables)

Accounts Receivable (Tables)	6 Months Ended
	Jun. 30, 2018
Receivables [Abstract]
The components of our accounts receivable, net of allowance for doubtful accounts balance	The components of our accounts receivable, net of allowance for doubtful accounts balance, are as follows: June 30, 2018 Dollars in millions Unbilled Trade & Other Total Government Services $ 198 $ 279 $ 477 Technology — 41 41 Hydrocarbons Services 65 192 257 Subtotal 263 512 775 Non-strategic Business — 4 4 Total $ 263 $ 516 $ 779 As a result of the adoption of ASC 606 on January 1, 2018, unbilled accounts receivable is classified in "Accounts receivable" in our condensed consolidated balance sheets as it represents the amounts that have been recorded in revenue based on contracted prices for which we have obtained an unconditional right to payment under the terms of our contracts. Retainage is now recorded in "Contract Assets" in our condensed consolidated balance sheets when the right to payment of the retainage is conditional under the terms of our contracts. Prior to the adoption of ASC 606, unbilled accounts receivables were classified as "Costs and estimated earnings in excess of billings on uncompleted contracts" and retainage was classified within "Accounts receivable". December 31, 2017 Dollars in millions Retainage Trade & Other Total Government Services $ 6 $ 189 $ 195 Technology — 72 72 Hydrocarbons Services 53 186 239 Subtotal 59 447 506 Non-strategic Business 4 — 4 Total $ 63 $ 447 $ 510

Percentage-Of-Completion Contra

Percentage-Of-Completion Contracts (Tables)	6 Months Ended
	Jun. 30, 2018
Contractors [Abstract]
Schedule of contact assets and liabilities	Our contract assets by business segment are as follows: June 30, December 31, Dollars in millions 2018 2017 $ Change % Change Government Services $ 159 $ 274 $ (115 ) (42 )% Technology 31 39 (8 ) (21 )% Hydrocarbons Services 58 70 (12 ) (17 )% Subtotal 248 383 (135 ) (35 )% Non-strategic Business — — — N/A Total $ 248 $ 383 $ (135 ) (35 )% The decrease in contract assets was primarily caused by the initial adjustment due to the adoption of ASC 606, offset by normal business operations and the acquisition of $21 million of contract assets from the purchase of SGT as described in Note 5 to our condensed consolidated financial statements. Our contract liabilities by business segment are as follows: June 30, December 31, Dollars in millions 2018 2017 $ Change % Change Government Services $ 250 $ 85 165 194 % Technology 90 62 28 45 % Hydrocarbons Services 118 213 (95 ) (45 )% Subtotal 458 360 98 27 % Non-strategic Business 7 8 (1 ) (13 )% Total $ 465 $ 368 97 26 % The increase in contract liabilities was primarily related to the acquisition of $161 million of contract liabilities associated with the Aspire Defence project joint ventures, partially offset by normal business operations and the recognition of the incentive fee associated with an Australian LNG project. Revenue recognized for the six months ended June 30, 2018 , that was included in the contract liability balance at December 31, 2017 was $181 million

Unapproved Change Orders, Cla39

Unapproved Change Orders, Claims and Estimated Recoveries of Claims Against Suppliers and Subcontractors (Tables)	6 Months Ended
	Jun. 30, 2018
Contractors [Abstract]
Schedule of unapproved claims and change orders	The amounts of unapproved change orders, claims and estimated recoveries of claims against suppliers and subcontractors included in determining the profit or loss on contracts are as follows: Dollars in millions 2018 2017 Amounts included in project estimates-at-completion at January 1, $ 924 $ 294 Increase (decrease), net of foreign currency effect 10 280 Approved change orders, net of foreign currency effect (1 ) (3 ) Amounts included in project estimates-at-completion at June 30, $ 933 $ 571 Amounts recognized over time based on progress at June 30, $ 887 $ 490

Restructuring (Tables)

Restructuring (Tables)	6 Months Ended
	Jun. 30, 2018
Restructuring and Related Activities [Abstract]
Schedule of restructuring reserve by type of cost	The table below provides a rollforward of one-time charges associated with employee terminations based on the fair value of the termination benefits. These amounts are included in "Other current liabilities" on our condensed consolidated balance sheets. Dollars in millions Severance Accrual Balance at December 31, 2017 $ 1 Payments (1 ) Balance at June 30, 2018 $ — Balance at December 31, 2016 $ 8 Payments (5 ) Balance at June 30, 2017 $ 3

Equity Method Investments And41

Equity Method Investments And Variable Interest Entities (Related Part Disclosures) (Tables)	6 Months Ended
	Jun. 30, 2018
Equity Method Investments and Joint Ventures [Abstract]
Equity In earnings of unconsolidated affiliates	The following table presents a rollforward of our equity in and advances to unconsolidated affiliates: June 30, December 31, Dollars in millions 2018 2017 Beginning balance $ 387 $ 369 Cumulative effect of change in accounting policy (a) 87 — Adjusted balance at January 1, 2018 474 369 Equity in earnings of unconsolidated affiliates 33 72 Distribution of earnings of unconsolidated affiliates (b) (9 ) (62 ) Advances (receipts) (6 ) (11 ) Investments (c) 162 — Foreign currency translation adjustments (11 ) 12 Other (21 ) 5 Balance before reclassification $ 622 $ 385 Reclassification of excess distributions (b) — 11 Recognition of excess distributions (b) — (9 ) Ending balance $ 622 $ 387 (a) As further discussed in Note 1 to our condensed consolidated financial statements, deferred construction income in the amount of $87 million previously recorded in "Equity in and advance to unconsolidated affiliates" was reversed and included in the cumulative effect adjustment as a result of the early adoption of ASC 606 by the Aspire Defence project joint ventures. (b) From 2014 through 2017, we received cash dividends in excess of the carrying value of one of our unconsolidated joint ventures. We have no obligation to return any portion of the cash dividends received. We record excess dividends as "Deferred income from unconsolidated affiliates" on our condensed consolidated balance sheets and recognize these dividends as earnings are generated by the investment. As further discussed in Note 1 to our condensed consolidated financial statements, the adoption of ASC Topic 606 by this unconsolidated joint venture resulted in the reversal of the "Deferred income from unconsolidated affiliates" balance of $101 million in our condensed consolidated balance sheets as of December 31, 2017 in the cumulative effect adjustment of the change in accounting policy. (c) In 2018, investments included a $162 million investment to fund JKC.
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. The Aspire Defence joint venture amounts for 2017 reflect all joint ventures related to the Aspire Defence project. June 30, 2018 Dollars in millions Total assets Total liabilities Affinity joint venture (U.K. MFTS project) $ 19 $ 3 Aspire Defence Limited $ 76 $ 6 JKC joint venture (Ichthys LNG project) $ 293 $ 27 U.K. Road project joint ventures $ 37 $ 10 Middle East Petroleum Corporation (EBIC Ammonia project) $ 40 $ 1 December 31, 2017 Dollars in millions Total assets Total liabilities Affinity joint venture (U.K. MFTS project) $ 26 $ 10 Aspire Defence joint ventures (Aspire Defence project) $ 10 $ 125 JKC joint venture (Ichthys LNG project) $ 140 $ 25 U.K. Road project joint ventures $ 36 $ 10 Middle East Petroleum Corporation (EBIC Ammonia project) $ 38 $ 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, 2018 and December 31, 2017 are as follows: June 30, December 31, Dollars in millions 2018 2017 Accounts receivable, net of allowance for doubtful accounts (a) $ 12 $ 28 Contract assets (b) $ 2 $ 2 Contract liabilities (b) $ 33 $ 27 Accounts payable $ 2 $ — (a) Includes a $0 million and $4 million net receivable from the Brown & Root Industrial Services joint venture at June 30, 2018 and December 31, 2017 , respectively. (b)
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, 2018 Total assets Total liabilities KJV-G joint venture (Gorgon LNG project) $ 14 $ 19 JKS joint venture (Escravos Gas-to-Liquids project) $ 8 $ 13 Fasttrax Limited (Fasttrax project) $ 55 $ 42 Aspire Defence Works/Services entities (Aspire Defence project) $ 575 $ 313 Dollars in millions December 31, 2017 Total assets Total liabilities KJV-G joint venture (Gorgon LNG project) $ 15 $ 48 JKS joint venture (Escravos Gas-to-Liquids project) $ 8 $ 13 Fasttrax Limited (Fasttrax project) $ 57 $ 47

Pension Plans Pension (Tables)

Pension Plans Pension (Tables)	6 Months Ended
	Jun. 30, 2018
Retirement Benefits [Abstract]
Schedule of net benefit costs	The components of net periodic benefit cost related to pension benefits for the three and six months ended June 30, 2018 and 2017 were as follows: Three Months Ended June 30, 2018 2017 Dollars in millions United States Int’l United States Int’l Components of net periodic benefit cost Interest cost — 13 — 13 Expected return on plan assets (1 ) (20 ) (1 ) (19 ) Recognized actuarial loss 1 7 1 7 Net periodic benefit cost $ — $ — $ — $ 1 Six Months Ended June 30, 2018 2017 Dollars in millions United States Int’l United States Int’l Components of net periodic benefit cost Interest cost 1 26 1 26 Expected return on plan assets (2 ) (41 ) (2 ) (37 ) Recognized actuarial loss 1 14 1 15 Net periodic benefit cost $ — $ (1 ) $ — $ 4

Debt And Other Credit Facilit43

Debt And Other Credit Facilities (Tables)	6 Months Ended
	Jun. 30, 2018
Debt Disclosure [Abstract]
Debt details	The details of the applicable margins and commitment fees are based on the Company's consolidated leverage ratio as follows: Revolver and Term Loan A Consolidated Leverage Ratio LIBOR Margin Base Rate Margin Performance Letter of Credit Fee Commitment Fee Greater than or equal to 4.00 to 1.00 3.25 % 2.25 % 1.95 % 0.450 % Less than 4.00 to 1.00 but greater than or equal to 3.00 to 1.00 3.00 % 2.00 % 1.80 % 0.400 % Less than 3.00 to 1.00 but greater than or equal to 2.00 to 1.00 2.75 % 1.75 % 1.65 % 0.375 % Less than 2.00 to 1.00 2.50 % 1.50 % 1.50 % 0.350 % Dollars in millions June 30, 2018 December 31, 2017 Revolving credit agreement, terminated April 2018 $ — $ 470 Revolver 115 — Term Loan A 163 — Term Loan B 800 — Unamortized debt issuance costs - Term Loan A (4 ) — Unamortized debt issuance costs and discount - Term Loan B (19 ) — Total long-term debt 1,055 470 Less: current portion 12 — Total long-term debt, net of current portion $ 1,043 $ 470

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2018
Equity [Abstract]
Shareholders' equity activities	The following tables summarize our activity in shareholders’ equity: Dollars in millions Total PIC Retained Earnings Treasury Stock AOCL NCI Balance at December 31, 2017 $ 1,221 $ 2,091 $ 877 $ (818 ) $ (921 ) $ (8 ) Cumulative effect of change in accounting policy, net of tax of $6 144 — 144 — — — Adjusted balance at January 1, 2018 1,365 2,091 1,021 (818 ) (921 ) (8 ) Consolidation and acquisition of noncontrolling in Aspire entities (see Note 5) 74 74 — — — — Share-based compensation 6 6 — — — — Dividends declared to shareholders (22 ) — (22 ) — — — Repurchases of common stock (3 ) — — (3 ) — — Issuance of ESPP shares 2 — — 2 — — Other noncontrolling interests activity 1 — — — — 1 Net income 201 — 180 — — 21 Other comprehensive income, net of tax (14 ) — — — (14 ) — Balance at June 30, 2018 $ 1,610 $ 2,171 $ 1,179 $ (819 ) $ (935 ) $ 14 Dollars in millions Total PIC Retained Treasury AOCL NCI Balance at December 31, 2016 $ 745 $ 2,088 $ 488 $ (769 ) $ (1,050 ) $ (12 ) Share-based compensation 5 5 — — — — Dividends declared to shareholders (22 ) — (22 ) — — — Repurchases of common stock (52 ) — — (52 ) — — Issuance of ESPP shares 1 — — 1 — — Distributions to noncontrolling interests (1 ) — — — — (1 ) Net income 117 — 114 — — 3 Other comprehensive income, net of tax 18 — — — 20 (2 ) Balance at June 30, 2017 $ 811 $ 2,093 $ 580 $ (820 ) $ (1,030 ) $ (12 )
Accumulated other comprehensive income (loss)	Changes in accumulated other comprehensive loss, net of tax, by component Dollars in millions Accumulated foreign currency translation adjustments Accumulated pension liability adjustments Changes in fair value of derivatives Total Balance at December 31, 2017 $ (258 ) $ (660 ) $ (3 ) $ (921 ) Other comprehensive income adjustments before reclassifications (28 ) — (4 ) (32 ) Amounts reclassified from accumulated other comprehensive income 5 13 — 18 Balance at June 30, 2018 $ (281 ) $ (647 ) $ (7 ) $ (935 ) Dollars in millions Accumulated foreign currency translation adjustments Accumulated pension liability adjustments Changes in fair value of derivatives Total Balance at December 31, 2016 $ (262 ) $ (785 ) $ (3 ) $ (1,050 ) Other comprehensive income adjustments before reclassifications 7 — — 7 Amounts reclassified from accumulated other comprehensive income — 13 — 13 Balance at June 30, 2017 $ (255 ) $ (772 ) $ (3 ) $ (1,030 ) June 30, Dollars in millions 2018 2017 Accumulated foreign currency translation adjustments, net of tax of $1 and $3 $ (281 ) $ (255 ) Pension and post-retirement benefits, net of tax of $225 and $251 (647 ) (772 ) Fair value of derivatives, net of tax of $0 and $0 (7 ) (3 ) Total accumulated other comprehensive loss $ (935 ) $ (1,030 )
Reclassification out of accumulated other comprehensive income	Reclassifications out of accumulated other comprehensive loss, net of tax, by component Six Months Ended June 30, Dollars in millions 2018 2017 Affected line item on the Condensed Consolidated Statements of Operations Accumulated pension liability adjustments Amortization of actuarial loss (a) $ (15 ) $ (16 ) See (a) below Tax benefit 2 3 Provision for income taxes Net pension and post-retirement benefits $ (13 ) $ (13 ) Net of tax (a) This item is included in the computation of net periodic pension cost. See Note 13 to our condensed consolidated financial statements for further discussion. Six Months Ended June 30, Dollars in millions 2018 2017 Affected line item on the Condensed Consolidated Statements of Operations Accumulated foreign currency adjustments Reclassification of foreign currency adjustments $ (5 ) $ — Gain on consolidation of Aspire entities Tax benefit — — Provision for income taxes Net accumulated foreign currency $ (5 ) $ — Net of tax

Share Repurchases (Tables)

Share Repurchases (Tables)	6 Months Ended
	Jun. 30, 2018
Equity [Abstract]
Schedule of shares repurchased	The table below presents information on our share repurchases activity under these programs: Three Months Ended Six Months Ended June 30, 2018 June 30, 2018 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 16,321 $ 18.14 — 170,606 $ 15.69 3 Total 16,321 $ 18.14 $ — 170,606 $ 15.69 $ 3 Three Months Ended Six Months Ended June 30, 2017 June 30, 2017 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 3,345,366 $ 14.93 $ 50 3,345,366 $ 14.93 $ 50 Withheld to cover shares 15,475 $ 14.45 — 165,143 $ 15.08 2 Total 3,360,841 $ 14.92 $ 50 3,510,509 $ 14.93 $ 52

Income Per Share (Tables)

Income Per Share (Tables)	6 Months Ended
	Jun. 30, 2018
Earnings Per Share [Abstract]
Schedule of reconciliation of the number of shares used for the basic and diluted income per share calculations	A reconciliation of the number of shares used for the basic and diluted income per share calculations is as follows: Three Months Ended June 30, Six Months Ended June 30, Shares in millions 2018 2017 2018 2017 Basic weighted average common shares outstanding 140 141 140 142 Stock options and restricted shares 1 — 1 — Diluted weighted average common shares outstanding 141 141 141 142

Financial Instruments and Ris47

Financial Instruments and Risk Management (Tables)	6 Months Ended
	Jun. 30, 2018
Fair Value Disclosures [Abstract]
Schedule of derivatives instruments statements of financial performance and financial position, location	The following table summarizes the recognized changes in fair value of our balance sheet hedges offset by remeasurement of balance sheet positions. These amounts are recognized in our condensed consolidated statements of operations for the periods presented. The net of our changes in fair value of hedges and the remeasurement of our assets and liabilities is included in "Other non-operating income (expense)" on our condensed consolidated statements of operations. Three Months Ended Six Months Ended June 30, June 30, Gains (losses) dollars in millions 2018 2017 2018 2017 Balance sheet hedges - fair value $ (1 ) $ 3 $ 1 $ 4 Balance sheet position - remeasurement 2 (4 ) (6 ) (11 ) Net $ 1 $ (1 ) $ (5 ) $ (7 )

Description of Company And Si48

Description of Company And Significant Accounting Policies (Narrative) (Details) $ in Millions	6 Months Ended
	Jun. 30, 2018USD ($)segment	Jan. 01, 2018USD ($)	Dec. 31, 2017USD ($)
Accounting Policies [Abstract]
Number of reportable segments | segment	5
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Deferred income from unconsolidated affiliates	$ 0	$ 0	$ (101)
Equity in and advances to unconsolidated affiliates	622	474	$ 387
Accounting Standards Update 2014-09 | Difference between Revenue Guidance in Effect before and after Topic 606
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Deferred income from unconsolidated affiliates	99	101
Equity in and advances to unconsolidated affiliates	$ 5	$ 87

Description of Company And Si49

Description of Company And Significant Accounting Policies (Contract Revenue) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Mar. 31, 2018	Jan. 01, 2018	Dec. 31, 2017
Assets
Accounts receivable	$ 779		$ 779			$ 667	$ 510
Contract assets	248		248			192
Other current assets	117		117			98	93
Equity in and advances to unconsolidated affiliates	622		622			474	387
Deferred income taxes	215		215			294	300
Other assets	158		158		$ 158	125	124
Liabilities
Contract liabilities	465		465			377
Deferred income from unconsolidated affiliates	0		0			0	101
Other liabilities	183		183			172	171
Equity
Retained earnings	1,179		1,179			1,021	877
Accumulated other comprehensive loss	(935)	$ (1,030)	(935)	$ (1,030)			(921)
Statement of Operations
Revenues	1,267	1,094	2,305	2,200
Cost of revenues	(1,137)	(986)	(2,094)	(2,010)
Income before income taxes and noncontrolling interests	80	100	253	151
Provision for income taxes	18	(21)	(52)	(34)
Net income	$ 62	$ 79	$ 201	$ 117
EPS
Basic (usd per share)	$ 0.30	$ 0.54	$ 1.28	$ 0.80
Diluted (usd per share)	$ 0.30	$ 0.54	$ 1.27	$ 0.80
Cash flows from operating activities
Equity in earnings of unconsolidated affiliates	$ 10	$ 32	$ 33	$ 41
Deferred income tax (benefit) expense			34	(85)
Changes in operating assets and liabilities:
Accounts receivable, net of allowances for doubtful accounts			(70)	70
Contract assets			(38)
Contract liabilities			(58)
Other assets and liabilities			(32)	(17)
Total cash flows used in operating activities			(36)	$ 210
Calculated under Revenue Guidance in Effect before Topic 606
Assets
Accounts receivable	571		571				510
Contract assets	463		463				383
Other current assets	112		112				93
Equity in and advances to unconsolidated affiliates	617		617				387
Deferred income taxes	222		222				300
Other assets					158		124
Liabilities
Contract liabilities	519		519				368
Deferred income from unconsolidated affiliates	99		99				101
Other liabilities							171
Equity
Retained earnings	1,026		1,026				$ 877
Accumulated other comprehensive loss	(931)		(931)
Statement of Operations
Revenues	1,258		2,294
Income before income taxes and noncontrolling interests	71		243
Net income	$ 54		$ 192
EPS
Basic (usd per share)	$ 0.24		$ 1.21
Diluted (usd per share)	$ 0.24		$ 1.21
Cash flows from operating activities
Equity in earnings of unconsolidated affiliates			$ 32
Deferred income tax (benefit) expense			33
Changes in operating assets and liabilities:
Accounts receivable, net of allowances for doubtful accounts			138
Contract assets			(254)
Contract liabilities			(41)
Other assets and liabilities			(32)
Total cash flows used in operating activities			(36)
Accounting Standards Update 2014-09 | Difference between Revenue Guidance in Effect before and after Topic 606
Assets
Accounts receivable	$ 208		208			157
Contract assets	(215)		(215)			(191)
Other current assets	5		5			5
Equity in and advances to unconsolidated affiliates	5		5			87
Deferred income taxes	(7)		(7)			(6)
Other assets					$ 0	1
Liabilities
Contract liabilities	(54)		(54)			9
Deferred income from unconsolidated affiliates	(99)		(99)			(101)
Other liabilities						1
Equity
Retained earnings	153		153			$ 144
Accumulated other comprehensive loss	(4)		(4)
Statement of Operations
Revenues	9		11
Income before income taxes and noncontrolling interests	9		10
Net income	$ 8		$ 9
EPS
Basic (usd per share)	$ 0.06		$ 0.07
Diluted (usd per share)	$ 0.06		$ 0.06
Cash flows from operating activities
Equity in earnings of unconsolidated affiliates			$ 1
Deferred income tax (benefit) expense			1
Changes in operating assets and liabilities:
Accounts receivable, net of allowances for doubtful accounts			(208)
Contract assets			216
Contract liabilities			(17)
Other assets and liabilities			0
Total cash flows used in operating activities			$ 0

Description of Company And Si50

Description of Company And Significant Accounting Policies (Balance Sheet Additional Disclosure) (Details) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Accounting Policies [Abstract]
Long-term Debt, Current Maturities	$ 12	$ 0
Reserve for estimated losses on uncompleted contracts	10	15
Retainage payable	31	30
Income taxes payable	16	17
Restructuring reserve	6	9
Taxes payable not based on income	8	11
Value-added tax payable	31	13
Insurance payable	4	9
Dividend payable	11	11
Other miscellaneous liabilities	32	42
Total other current liabilities	161	157
Noncurrent deferred rent	96	99
Due to former parent upon receipt from IRS	$ 5	$ 5

Significant Accounting Polici51

Significant Accounting Policies (Details) $ in Billions	6 Months Ended
	Jun. 30, 2018USD ($)
Accounting Policies [Abstract]
Revenue, remaining performance obligation	$ 10.1
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected to be satisfied in one year, percentage	31.00%
Revenue, remaining performance obligation, expected timing of satisfaction (year)	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected to be satisfied in one year, percentage	23.00%
Revenue, remaining performance obligation, expected timing of satisfaction (year)	4 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected to be satisfied in one year, percentage	46.00%
Revenue, remaining performance obligation, expected timing of satisfaction (year)

Business Segment Information (N

Business Segment Information (Narrative) (Details)	6 Months Ended
	Jun. 30, 2018Contractsbrandsegment
Segment Reporting [Abstract]
Core business segments, number	3
Non-core business segments, number	2
Number of specialist consulting brands | brand	3
Number of contracts | Contracts	1,000

Business Segment Information (S

Business Segment Information (Schedule of Operations by Reportable Segment) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Segment Reporting Information [Line Items]
Total revenues	$ 1,267	$ 1,094	$ 2,305	$ 2,200
Total gross profit	130	108	211	190
Total equity in earnings of unconsolidated affiliates	10	32	33	41
General and administrative expenses	(41)	(38)	(76)	(70)
Acquisition and integration related costs	(1)	0	(4)	0
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property	0	1	0	5
Gain on consolidation of Aspire entities	0	0	115	0
Total segment operating income (loss)	98	103	279	166
Subtotal
Segment Reporting Information [Line Items]
Total revenues	1,267	1,087	2,305	2,167
Total gross profit	130	109	213	193
Total equity in earnings of unconsolidated affiliates	10	32	33	41
General and administrative expenses	(41)	(38)	(76)	(70)
Acquisition and integration related costs	(1)	0	(4)	0
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property	0	1	0	5
Gain on consolidation of Aspire entities	0	0	115	0
Total segment operating income (loss)	98	104	281	169
Government Services
Segment Reporting Information [Line Items]
Total revenues	868	543	1,545	1,058
Total gross profit	71	37	123	74
Total equity in earnings of unconsolidated affiliates	6	18	14	27
General and administrative expenses	(12)	(6)	(18)	(12)
Acquisition and integration related costs	(1)	0	(4)	0
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property	0	0	0	0
Gain on consolidation of Aspire entities	0	0	120	0
Total segment operating income (loss)	64	48	236	88
Technology
Segment Reporting Information [Line Items]
Total revenues	72	70	134	136
Total gross profit	22	17	38	31
General and administrative expenses	0	(1)	(1)	(2)
Acquisition and integration related costs	0	0	0	0
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property	0	0	0	0
Gain on consolidation of Aspire entities	0	0	0	0
Total segment operating income (loss)	21	16	36	29
Hydrocarbons Services
Segment Reporting Information [Line Items]
Total revenues	327	474	626	973
Total gross profit	37	55	52	88
Total equity in earnings of unconsolidated affiliates	4	14	19	14
General and administrative expenses	(8)	(8)	(15)	(13)
Acquisition and integration related costs	0	0	0	0
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property	0	1	0	5
Gain on consolidation of Aspire entities	0	0	0	0
Total segment operating income (loss)	34	63	57	95
Other
Segment Reporting Information [Line Items]
General and administrative expenses	(21)	(23)	(42)	(43)
Acquisition and integration related costs	0	0	0	0
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property	0	0	0	0
Gain on consolidation of Aspire entities	0	0	(5)	0
Total segment operating income (loss)	(21)	(23)	(48)	(43)
Non-strategic Business
Segment Reporting Information [Line Items]
Total revenues	0	7	0	33
Total gross profit	0	(1)	(2)	(3)
Total equity in earnings of unconsolidated affiliates	0	0	0	0
General and administrative expenses	0	0	0	0
Acquisition and integration related costs	0	0	0	0
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property	0	0	0	0
Gain on consolidation of Aspire entities	0	0	0	0
Total segment operating income (loss)	$ 0	$ (1)	$ (2)	$ (3)

Business Segment Information 54

Business Segment Information (Schedule of Changes in Estimates) (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2017
Change in Accounting Estimate [Line Items]
Gain from litigation settlement	$ 35	$ 35

Revenue (Details)

Revenue (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2018
Disaggregation of Revenue [Line Items]
Revenues	$ 1,267	$ 2,305
Fixed Price
Disaggregation of Revenue [Line Items]
Revenues	399	732
Cost Reimbursable
Disaggregation of Revenue [Line Items]
Revenues	868	1,573
United States
Disaggregation of Revenue [Line Items]
Revenues	560	1,006
Middle East
Disaggregation of Revenue [Line Items]
Revenues	218	420
Europe
Disaggregation of Revenue [Line Items]
Revenues	273	483
Australia
Disaggregation of Revenue [Line Items]
Revenues	110	196
Canada
Disaggregation of Revenue [Line Items]
Revenues	4	17
Africa
Disaggregation of Revenue [Line Items]
Revenues	29	56
China
Disaggregation of Revenue [Line Items]
Revenues	14	35
Other countries
Disaggregation of Revenue [Line Items]
Revenues	59	92
Hydrocarbons
Disaggregation of Revenue [Line Items]
Revenues	399	760
Government Services
Disaggregation of Revenue [Line Items]
Revenues	868	1,545
Government Services | Fixed Price
Disaggregation of Revenue [Line Items]
Revenues	283	501
Government Services | Cost Reimbursable
Disaggregation of Revenue [Line Items]
Revenues	585	1,044
Government Services | United States
Disaggregation of Revenue [Line Items]
Revenues	431	745
Government Services | Middle East
Disaggregation of Revenue [Line Items]
Revenues	183	348
Government Services | Europe
Disaggregation of Revenue [Line Items]
Revenues	208	364
Government Services | Australia
Disaggregation of Revenue [Line Items]
Revenues	15	28
Government Services | Canada
Disaggregation of Revenue [Line Items]
Revenues	0	0
Government Services | Africa
Disaggregation of Revenue [Line Items]
Revenues	20	38
Government Services | China
Disaggregation of Revenue [Line Items]
Revenues	0	0
Government Services | Other countries
Disaggregation of Revenue [Line Items]
Revenues	11	22
Government Services | Science and Space
Disaggregation of Revenue [Line Items]
Revenues	169	247
Government Services | Engineering
Disaggregation of Revenue [Line Items]
Revenues	302	554
Government Services | Logistics
Disaggregation of Revenue [Line Items]
Revenues	397	744
Technology | Hydrocarbons
Disaggregation of Revenue [Line Items]
Revenues	72	134
Technology | Hydrocarbons | Fixed Price
Disaggregation of Revenue [Line Items]
Revenues	68	127
Technology | Hydrocarbons | Cost Reimbursable
Disaggregation of Revenue [Line Items]
Revenues	4	7
Technology | Hydrocarbons | United States
Disaggregation of Revenue [Line Items]
Revenues	4	10
Technology | Hydrocarbons | Middle East
Disaggregation of Revenue [Line Items]
Revenues	4	11
Technology | Hydrocarbons | Europe
Disaggregation of Revenue [Line Items]
Revenues	13	21
Technology | Hydrocarbons | Australia
Disaggregation of Revenue [Line Items]
Revenues	0	1
Technology | Hydrocarbons | Canada
Disaggregation of Revenue [Line Items]
Revenues	0	2
Technology | Hydrocarbons | Africa
Disaggregation of Revenue [Line Items]
Revenues	5	12
Technology | Hydrocarbons | China
Disaggregation of Revenue [Line Items]
Revenues	14	35
Technology | Hydrocarbons | Other countries
Disaggregation of Revenue [Line Items]
Revenues	32	42
Hydrocarbons Services | Hydrocarbons
Disaggregation of Revenue [Line Items]
Revenues	327	626
Hydrocarbons Services | Hydrocarbons | Fixed Price
Disaggregation of Revenue [Line Items]
Revenues	48	104
Hydrocarbons Services | Hydrocarbons | Cost Reimbursable
Disaggregation of Revenue [Line Items]
Revenues	279	522
Hydrocarbons Services | Hydrocarbons | United States
Disaggregation of Revenue [Line Items]
Revenues	125	251
Hydrocarbons Services | Hydrocarbons | Middle East
Disaggregation of Revenue [Line Items]
Revenues	31	61
Hydrocarbons Services | Hydrocarbons | Europe
Disaggregation of Revenue [Line Items]
Revenues	52	98
Hydrocarbons Services | Hydrocarbons | Australia
Disaggregation of Revenue [Line Items]
Revenues	95	167
Hydrocarbons Services | Hydrocarbons | Canada
Disaggregation of Revenue [Line Items]
Revenues	4	15
Hydrocarbons Services | Hydrocarbons | Africa
Disaggregation of Revenue [Line Items]
Revenues	4	6
Hydrocarbons Services | Hydrocarbons | China
Disaggregation of Revenue [Line Items]
Revenues	0	0
Hydrocarbons Services | Hydrocarbons | Other countries
Disaggregation of Revenue [Line Items]
Revenues	16	28
Hydrocarbons Services | Onshore
Disaggregation of Revenue [Line Items]
Revenues	266	504
Hydrocarbons Services | Offshore
Disaggregation of Revenue [Line Items]
Revenues	25	49
Hydrocarbons Services | Industrial Services
Disaggregation of Revenue [Line Items]
Revenues	18	41
Hydrocarbons Services | Consulting
Disaggregation of Revenue [Line Items]
Revenues	18	32
Key U.S. Government Customers | Government Services
Disaggregation of Revenue [Line Items]
Revenues	637	1,100
Non U.S. Government Customers | Government Services
Disaggregation of Revenue [Line Items]
Revenues	$ 231	$ 416

Revenue (Remaining Performance

Revenue (Remaining Performance Obligation) (Details) $ in Billions	6 Months Ended
	Jun. 30, 2018USD ($)
Revenue, Remaining Performance Obligation [Abstract]
Revenue, remaining performance obligation	$ 10.1
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected to be satisfied in one year, percentage	31.00%
Revenue, remaining performance obligation, expected timing of satisfaction (year)	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected to be satisfied in one year, percentage	23.00%
Revenue, remaining performance obligation, expected timing of satisfaction (year)	4 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected to be satisfied in one year, percentage	46.00%
Revenue, remaining performance obligation, expected timing of satisfaction (year)

Acquisitions, Dispositions an57

Acquisitions, Dispositions and Other Transactions (Details) - USD ($) $ in Millions	Apr. 25, 2018	Apr. 18, 2018	Jan. 15, 2018	Jun. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Business Acquisition [Line Items]
Acquisition related costs					$ 1			$ 0	$ 4	$ 0
Goodwill				$ 1,271	1,271		$ 968		1,271
Government Services
Business Acquisition [Line Items]
Acquisition related costs					1			$ 0	4	$ 0
Aspire Defence Subcontracting Joint Ventures
Business Acquisition [Line Items]
Equity method investment, ownership percentage							50.00%
Equity method investments			$ 5
Gain from remeasurement of equity interests						$ 115
Stinger Ghaffarian Technologies
Business Acquisition [Line Items]
Voting interests acquired (percentage)	100.00%
Aggregate base consideration	$ 355
Adjustments to consideration transferred	13
Goodwill deductible for tax purposes	$ 240
Useful life of intangible acquired (in years)	19 years
Acquisition related costs					1				3
Revenues contributed by acquiree				90
Gross profit contributed by acquiree				$ 7
Fair value of total consideration transferred	$ 368
Cash and equivalents	11
Accounts receivable	52
Contract assets	21
Other current assets	2
Total current assets	86
Property, plant and equipment, net	2
Equity in and advances to unconsolidated affiliates	2
Intangible assets	74
Deferred income taxes	6
Other assets	8
Total assets	178
Accounts payable	27
Contract liabilities	6
Accrued salaries, wages and benefits	28
Other current liabilities	5
Total current liabilities	66
Employee compensation and benefits	2
Other liabilities	2
Total liabilities	70
Goodwill	$ 260
Aspire Defence Subcontracting Joint Ventures
Business Acquisition [Line Items]
Goodwill deductible for tax purposes			0
Acquisition related costs					0				1
Revenues contributed by acquiree					144				249
Gross profit contributed by acquiree					15				28
Fair value of total consideration transferred		$ 50	240
Difference in noncontrolling interests									124
Net increase to PIC resulting from the difference between noncontrolling interests and cash consideration paid in the acquisition									$ 74
Cash and equivalents			197
Accounts receivable			4
Other current assets			12
Total current assets			213
Property, plant and equipment, net			9
Intangible assets			253
Other assets			0
Total assets			475
Accounts payable			52
Contract liabilities			161
Other current liabilities			21
Total current liabilities			235
Employee compensation and benefits			43
Other liabilities			2
Total liabilities			280
Goodwill			45
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Financial Assets					(8)
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Intangibles					$ 10
Aspire Defence Subcontracting Joint Ventures | Accrued Liabilities [Member]
Business Acquisition [Line Items]
Total current liabilities			$ 1
Sigma Bravo Pty Ltd
Business Acquisition [Line Items]
Voting interests acquired (percentage)							100.00%
Fair value of total consideration transferred							$ 9
Goodwill							$ 1
Contract-Related Intangible Assets | Minimum
Business Acquisition [Line Items]
Finite-lived intangibles, useful life			4 years
Contract-Related Intangible Assets | Maximum
Business Acquisition [Line Items]
Finite-lived intangibles, useful life			23 years

Acquisitions, Dispositions an58

Acquisitions, Dispositions and Other Transactions (Pro Forma Information) (Details) - SGT and the Aspire Defence - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Business Acquisition [Line Items]
Revenue	$ 1,291	$ 1,319	$ 2,453	$ 2,644
Net income attributable to KBR	$ 42	$ 87	$ 86	$ 207
Diluted earnings per share (usd per share)	$ 0.30	$ 0.62	$ 0.61	$ 1.46

Cash and Equivalents (Details)

Cash and Equivalents (Details) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017	Jun. 30, 2017	Dec. 31, 2016
Cash and Cash Equivalents [Line Items]
Cash and equivalents	$ 519	$ 439	$ 491	$ 536
Operating cash and equivalents
Cash and Cash Equivalents [Line Items]
Cash and equivalents	193	236
Short-term investments
Cash and Cash Equivalents [Line Items]
Cash and equivalents	24	142
Cash and equivalents held in consolidated joint ventures
Cash and Cash Equivalents [Line Items]
Cash and equivalents	302	61
International
Cash and Cash Equivalents [Line Items]
Cash and equivalents	421	253
International | Operating cash and equivalents
Cash and Cash Equivalents [Line Items]
Cash and equivalents	106	112
International | Short-term investments
Cash and Cash Equivalents [Line Items]
Cash and equivalents	15	82
International | Cash and equivalents held in consolidated joint ventures
Cash and Cash Equivalents [Line Items]
Cash and equivalents	300	59
Domestic
Cash and Cash Equivalents [Line Items]
Cash and equivalents	98	186
Domestic | Operating cash and equivalents
Cash and Cash Equivalents [Line Items]
Cash and equivalents	87	124
Domestic | Short-term investments
Cash and Cash Equivalents [Line Items]
Cash and equivalents	9	60
Domestic | Cash and equivalents held in consolidated joint ventures
Cash and Cash Equivalents [Line Items]
Cash and equivalents	$ 2	$ 2

Accounts Receivable (Details)

Accounts Receivable (Details) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Account receivable, current	$ 779	$ 510
Retainage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Account receivable, current		63
Trade & Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Account receivable, current	516	447
Subtotal
Accounts, Notes, Loans and Financing Receivable [Line Items]
Account receivable, current	775	506
Subtotal | Retainage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Account receivable, current		59
Subtotal | Trade & Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Account receivable, current	512	447
Government Services
Accounts, Notes, Loans and Financing Receivable [Line Items]
Account receivable, current	477	195
Government Services | Retainage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Account receivable, current		6
Government Services | Trade & Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Account receivable, current	279	189
Technology
Accounts, Notes, Loans and Financing Receivable [Line Items]
Account receivable, current	41	72
Technology | Retainage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Account receivable, current		0
Technology | Trade & Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Account receivable, current	41	72
Hydrocarbons Services
Accounts, Notes, Loans and Financing Receivable [Line Items]
Account receivable, current	257	239
Hydrocarbons Services | Retainage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Account receivable, current		53
Hydrocarbons Services | Trade & Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Account receivable, current	192	186
Non-strategic Business
Accounts, Notes, Loans and Financing Receivable [Line Items]
Account receivable, current	4	4
Non-strategic Business | Retainage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Account receivable, current		4
Non-strategic Business | Trade & Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Account receivable, current	4	$ 0
Unbilled
Accounts, Notes, Loans and Financing Receivable [Line Items]
Account receivable, current	263
Unbilled | Subtotal
Accounts, Notes, Loans and Financing Receivable [Line Items]
Account receivable, current	263
Unbilled | Government Services
Accounts, Notes, Loans and Financing Receivable [Line Items]
Account receivable, current	198
Unbilled | Technology
Accounts, Notes, Loans and Financing Receivable [Line Items]
Account receivable, current	0
Unbilled | Hydrocarbons Services
Accounts, Notes, Loans and Financing Receivable [Line Items]
Account receivable, current	65
Unbilled | Non-strategic Business
Accounts, Notes, Loans and Financing Receivable [Line Items]
Account receivable, current	$ 0

Contract assets and contract 61

Contract assets and contract liabilities (Contract asset) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
Contract assets	$ 248	$ 383
$ Change	$ (135)
% Change	(35.00%)
Subtotal
Contract assets	$ 248	383
$ Change	$ (135)
% Change	(35.00%)
Government Services
Contract assets	$ 159	274
$ Change	$ (115)
% Change	(42.00%)
Technology
Contract assets	$ 31	39
$ Change	$ (8)
% Change	(21.00%)
Hydrocarbons Services
Contract assets	$ 58	70
$ Change	$ (12)
% Change	(17.00%)
Non-strategic Business
Contract assets	$ 0	$ 0
$ Change	$ 0

Contract assets and contract 62

Contract assets and contract liabilities (Contract liability) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2018	Jan. 15, 2018	Dec. 31, 2017
Contract liabilities	$ 465		$ 368
$ Change	$ 97
% Change	26.00%
Aspire Defence Subcontracting Joint Ventures
Contract liabilities		$ 161
Subtotal
Contract liabilities	$ 458		360
$ Change	$ 98
% Change	27.00%
Government Services
Contract liabilities	$ 250		85
$ Change	$ 165
% Change	194.00%
Technology
Contract liabilities	$ 90		62
$ Change	$ 28
% Change	45.00%
Hydrocarbons Services
Contract liabilities	$ 118		213
$ Change	$ (95)
% Change	(45.00%)
Non-strategic Business
Contract liabilities	$ 7		$ 8
$ Change	$ (1)
% Change	(13.00%)

Contract assets and contract 63

Contract assets and contract liabilities (Narrative) (Details) $ in Millions	6 Months Ended
	Jun. 30, 2018USD ($)
Contractors [Abstract]
Contract liability, revenue recognized	$ 181

Unapproved Change Orders, Cla64

Unapproved Change Orders, Claims and Estimated Recoveries of Claims Against Suppliers and Subcontractors (Roll-forward) (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Unapproved Change Orders [Roll Forward]
Amounts included in project estimates-at-completion at beginning of period	$ 924	$ 294	$ 294
Increase (decrease)	10	280
Approved change orders	(1)	(3)
Amounts included in project estimates-at-completion at end of period	933	571	$ 924
Amounts recognized over time based on progress at end of period	$ 887	$ 490

Unapproved Change Orders, Cla65

Unapproved Change Orders, Claims and Estimated Recoveries of Claims Against Suppliers and Subcontractors (Narrative) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
Increases in Unapproved Change Orders and Claims [Line Items]
Liquidated damages	$ 9	$ 9
JKC joint venture (Ichthys LNG project)
Increases in Unapproved Change Orders and Claims [Line Items]
Ownership percentage	30.00%

Claims and Accounts Receivable

Claims and Accounts Receivable (Details) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Claims and accounts receivable	$ 104	$ 101
Government contract receivable	77	79
Government Services
Accounts, Notes, Loans and Financing Receivable [Line Items]
Government contract receivable	83
Disputed costs	$ 27	$ 22

Restructuring (Severance Costs)

Restructuring (Severance Costs) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Restructuring Reserve [Roll Forward]
Restructuring Reserve	$ 9
Restructuring Reserve	6
Employee Severance
Restructuring Reserve [Roll Forward]
Restructuring Reserve	1	$ 8
Payments	(1)	(5)
Restructuring Reserve	$ 0	$ 3

Equity Method Investments and68

Equity Method Investments and Variable Interest Entities (Schedule of Equity in Earnings of Unconsolidated Affiliates) (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017	Jan. 01, 2018	Dec. 31, 2016
Equity Method Investment [Roll Forward]
Cumulative effect of change in accounting policy			$ 144
Distribution of earnings of unconsolidated affiliates	$ (9)	$ (30)
Investments	162	0
Equity in and advances to unconsolidated affiliates	622		387	$ 474
Deferred income from unconsolidated affiliates	0		(101)	0
Equity Method Investments
Equity Method Investment [Roll Forward]
Beginning balance	387	$ 369	369
Cumulative effect of change in accounting policy			87		$ 0
Equity Method Investments, Adjusted Balance			474		$ 369
Equity in earnings of unconsolidated affiliates	33		72
Distribution of earnings of unconsolidated affiliates	(9)		(62)
Advances (receipts)	(6)		(11)
Investments	162		0
Foreign currency translation adjustments	(11)		12
Other	(21)		5
Balance before reclassification	622		385
Reclassification of excess distributions	0		11
Recognition of excess distributions	0		(9)
Ending balance	622		$ 387
Accounting Standards Update 2014-09 | Difference between Revenue Guidance in Effect before and after Topic 606
Equity Method Investment [Roll Forward]
Equity in and advances to unconsolidated affiliates	5			87
Deferred income from unconsolidated affiliates	$ 99			$ 101

Pension Plans (Components Of Ne

Pension Plans (Components Of Net Periodic Benefit Cost) (Details) - Pension Plan - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Defined Benefit Plan Disclosure [Line Items]
Contributions by employer			$ 19
Estimated future employer contributions in next fiscal year					$ 40
United States
Defined Benefit Plan Disclosure [Line Items]
Interest cost	$ 0	$ 0	1	$ 1
Expected return on plan assets	(1)	(1)	(2)	(2)
Recognized actuarial loss	1	1	1	1
Net periodic benefit cost	0	0	0	0
Int’l
Defined Benefit Plan Disclosure [Line Items]
Interest cost	13	13	26	26
Expected return on plan assets	(20)	(19)	(41)	(37)
Recognized actuarial loss	7	7	14	15
Net periodic benefit cost	$ 0	$ 1	$ (1)	$ 4

Equity Method Investments And70

Equity Method Investments And Variable Interest Entities (Schedule of Variable Interest Entities) (Details) - USD ($) $ in Millions	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017
Variable Interest Entity, Not Primary Beneficiary | Aspire Defence Limited
Schedule of Equity Method Investments [Line Items]
Unconsolidated VIEs, Total assets	$ 19		$ 26
Unconsolidated VIEs, Total liabilities	3		10
Variable Interest Entity, Not Primary Beneficiary | Aspire Defence Limited
Schedule of Equity Method Investments [Line Items]
Unconsolidated VIEs, Total assets	76		10
Unconsolidated VIEs, Total liabilities	6		125
Variable Interest Entity, Not Primary Beneficiary | JKC joint venture (Ichthys LNG project)
Schedule of Equity Method Investments [Line Items]
Unconsolidated VIEs, Total assets	293		140
Unconsolidated VIEs, Total liabilities	27		25
Variable Interest Entity, Not Primary Beneficiary | U.K. Road project joint ventures
Schedule of Equity Method Investments [Line Items]
Unconsolidated VIEs, Total assets	37		36
Unconsolidated VIEs, Total liabilities	10		10
Variable Interest Entity, Not Primary Beneficiary | Middle East Petroleum Corporation (EBIC Ammonia project)
Schedule of Equity Method Investments [Line Items]
Unconsolidated VIEs, Total assets	40		38
Unconsolidated VIEs, Total liabilities	$ 1		1
Variable Interest Entity, Primary Beneficiary | Aspire Defence Limited
Schedule of Equity Method Investments [Line Items]
Consolidated VIEs, Total assets		$ 575
Consolidated VIEs, Total liabilities		313
Variable Interest Entity, Primary Beneficiary | KJV-G joint venture (Gorgon LNG project)
Schedule of Equity Method Investments [Line Items]
Consolidated VIEs, Total assets		14	15
Consolidated VIEs, Total liabilities		19	48
Variable Interest Entity, Primary Beneficiary | JKS joint venture (Escravos Gas-to-Liquids project)
Schedule of Equity Method Investments [Line Items]
Consolidated VIEs, Total assets		8	8
Consolidated VIEs, Total liabilities		13	13
Variable Interest Entity, Primary Beneficiary | Fasttrax Limited (Fasttrax project)
Schedule of Equity Method Investments [Line Items]
Consolidated VIEs, Total assets		55	57
Consolidated VIEs, Total liabilities		$ 42	$ 47

Equity Method Investments And71

Equity Method Investments And Variable Interest Entities (Narrative) (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended	6 Months Ended
	Apr. 30, 2006	Mar. 31, 2018	Jun. 30, 2018	Jun. 30, 2017
Schedule of Equity Method Investments [Line Items]
Investments			$ 162	$ 0
Transactions with Related Parties
Schedule of Equity Method Investments [Line Items]
Revenue from related parties			105	38
EPIC Piping LLC
Schedule of Equity Method Investments [Line Items]
Related parties amount in cost of sales			0	3
Brown & Root JV
Schedule of Equity Method Investments [Line Items]
Revenue from related parties			1	$ 3
Allenby Connaught Project
Schedule of Equity Method Investments [Line Items]
Term of contracted services portion of project	35 years
Construction program, term (in years)	9 years
Minimum | JKC joint venture (Ichthys LNG project)
Schedule of Equity Method Investments [Line Items]
Payments to affiliates, remainder of the year, expected			140
Maximum | JKC joint venture (Ichthys LNG project)
Schedule of Equity Method Investments [Line Items]
Payments to affiliates, remainder of the year, expected			$ 240
Carillion Plc
Schedule of Equity Method Investments [Line Items]
Useful life of intangible acquired (in years)		23 years

Equity Method Investments and72

Equity Method Investments and Variable Interest Entities (Related Party Disclosures) (Details) - USD ($) $ in Millions	Jun. 30, 2018	Jan. 01, 2018	Dec. 31, 2017
Schedule of Related Party Transactions Included In Our Consolidated Balance Sheets [Line Items]
Accounts receivable, net of allowance for doubtful accounts	$ 12		$ 28
Contract assets	248	$ 192
Transactions with Related Parties
Schedule of Related Party Transactions Included In Our Consolidated Balance Sheets [Line Items]
Contract assets	2		2
Contract liabilities	33		27
Accounts payable	2		0
Brown & Root JV
Schedule of Related Party Transactions Included In Our Consolidated Balance Sheets [Line Items]
Due from (to) related party	$ 0		$ 4

Debt And Other Credit Facilit73

Debt And Other Credit Facilities (Outstanding Debt Balances) (Details) - USD ($) $ in Millions	Jun. 30, 2018	Apr. 25, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Total long-term debt	$ 1,055		$ 470
Long-term Debt, Current Maturities	12		0
Total long-term debt, net of current portion	1,043		470
Revolving Credit Agreement, Terminated April 2018
Debt Instrument [Line Items]
Long-term debt	0		470
Revolving Credit Facility
Debt Instrument [Line Items]
Long-term debt	115		0
Term Loan A
Debt Instrument [Line Items]
Unamortized debt issuance costs	(4)		0
Term Loan B
Debt Instrument [Line Items]
Unamortized debt issuance costs	(19)		0
Secured Debt | Term Loan A
Debt Instrument [Line Items]
Long-term debt	163		0
Total long-term debt		$ 350
Secured Debt | Term Loan B
Debt Instrument [Line Items]
Long-term debt	$ 800		$ 0
Total long-term debt		$ 800

Debt And Other Credit Facilit74

Debt And Other Credit Facilities (Senior Credit Facilities) (Details)	Apr. 25, 2018USD ($)	Jun. 30, 2018USD ($)	Apr. 12, 2018	Dec. 31, 2017USD ($)
Line of Credit Facility [Line Items]
Revolving credit agreement		$ 1,055,000,000		$ 470,000,000
Basis spread on variable rate (percentage)	3.75%
Greater than or equal to 4.00 to 1.00
Line of Credit Facility [Line Items]
Commitment Fee (percentage)		0.45%
Less than 4.00 to 1.00 but greater than or equal to 3.00 to 1.00
Line of Credit Facility [Line Items]
Commitment Fee (percentage)		0.40%
Less than 3.00 to 1.00 but greater than or equal to 2.00 to 1.00
Line of Credit Facility [Line Items]
Commitment Fee (percentage)		0.375%
Less than 2.00 to 1.00
Line of Credit Facility [Line Items]
Commitment Fee (percentage)		0.35%
Line of Credit
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 1,000,000,000
Line of Credit | Revolving Credit Facility
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	500,000,000
Line of Credit | Letter of Credit
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	500,000,000
Line of Credit | Letter of Credit | Greater than or equal to 4.00 to 1.00
Line of Credit Facility [Line Items]
Performance Letter of Credit Fee (percentage)		1.95%
Line of Credit | Letter of Credit | Less than 4.00 to 1.00 but greater than or equal to 3.00 to 1.00
Line of Credit Facility [Line Items]
Performance Letter of Credit Fee (percentage)		1.80%
Line of Credit | Letter of Credit | Less than 3.00 to 1.00 but greater than or equal to 2.00 to 1.00
Line of Credit Facility [Line Items]
Performance Letter of Credit Fee (percentage)		1.65%
Line of Credit | Letter of Credit | Less than 2.00 to 1.00
Line of Credit Facility [Line Items]
Performance Letter of Credit Fee (percentage)		1.50%
Secured Debt | Term Loan A
Line of Credit Facility [Line Items]
Revolving credit agreement	$ 350,000,000
Debt instrument, periodic payment, percentage of aggregate principal (percentage)	2.50%
Debt instrument, covenant, leverage ratio	3.50
Debt instrument, covenant, interest coverage ratio			3
Secured Debt | Term Loan A | Maximum
Line of Credit Facility [Line Items]
Debt instrument, covenant, leverage ratio	4.50
Secured Debt | Term Loan B
Line of Credit Facility [Line Items]
Revolving credit agreement	$ 800,000,000
Debt instrument, periodic payment, percentage of aggregate principal (percentage)	0.25%
Line of Credit and Secured Debt | Greater than or equal to 4.00 to 1.00 | LIBOR Margin
Line of Credit Facility [Line Items]
Basis spread on variable rate (percentage)		3.25%
Line of Credit and Secured Debt | Greater than or equal to 4.00 to 1.00 | Base Rate Margin
Line of Credit Facility [Line Items]
Basis spread on variable rate (percentage)		2.25%
Line of Credit and Secured Debt | Less than 4.00 to 1.00 but greater than or equal to 3.00 to 1.00 | LIBOR Margin
Line of Credit Facility [Line Items]
Basis spread on variable rate (percentage)		3.00%
Line of Credit and Secured Debt | Less than 4.00 to 1.00 but greater than or equal to 3.00 to 1.00 | Base Rate Margin
Line of Credit Facility [Line Items]
Basis spread on variable rate (percentage)		2.00%
Line of Credit and Secured Debt | Less than 3.00 to 1.00 but greater than or equal to 2.00 to 1.00 | LIBOR Margin
Line of Credit Facility [Line Items]
Basis spread on variable rate (percentage)		2.75%
Line of Credit and Secured Debt | Less than 3.00 to 1.00 but greater than or equal to 2.00 to 1.00 | Base Rate Margin
Line of Credit Facility [Line Items]
Basis spread on variable rate (percentage)		1.75%
Line of Credit and Secured Debt | Less than 2.00 to 1.00 | LIBOR Margin
Line of Credit Facility [Line Items]
Basis spread on variable rate (percentage)		2.50%
Line of Credit and Secured Debt | Less than 2.00 to 1.00 | Base Rate Margin
Line of Credit Facility [Line Items]
Basis spread on variable rate (percentage)		1.50%

Debt And Other Credit Facilit75

Debt And Other Credit Facilities (Nonrecourse Project Debt) (Details) £ in Millions, $ in Millions	6 Months Ended
	Jun. 30, 2018USD ($)	Jun. 30, 2018GBP (£)	Dec. 31, 2017USD ($)
Debt Instrument [Line Items]
Nonrecourse project debt	$ 22		$ 28
Class A 3.5% Index Linked Bond
Debt Instrument [Line Items]
Guaranteed secured bonds, percentage	3.50%	3.50%
Class B 5.9% Fixed Rate Bonds
Debt Instrument [Line Items]
Guaranteed secured bonds, percentage	5.90%	5.90%
Minimum
Debt Instrument [Line Items]
Subordinated notes payable, interest rate	11.25%
Maximum
Debt Instrument [Line Items]
Subordinated notes payable, interest rate	16.00%
United Kingdom, Pounds
Debt Instrument [Line Items]
Nonrecourse project debt | £		£ 84.9
United Kingdom, Pounds | Class A 3.5% Index Linked Bond
Debt Instrument [Line Items]
Secured bonds | £		56
United Kingdom, Pounds | Class B 5.9% Fixed Rate Bonds
Debt Instrument [Line Items]
Secured bonds | £		£ 16.7
United States of America, Dollars | Class A 3.5% Index Linked Bond
Debt Instrument [Line Items]
Secured bonds	$ 79
United States of America, Dollars | Class B 5.9% Fixed Rate Bonds
Debt Instrument [Line Items]
Secured bonds	$ 24
Nonrecourse Project Finance Debt
Debt Instrument [Line Items]
Ownership percentage	50.00%	50.00%
Number of heavy equipment transporters	91
Number of heavy equipment transporters term period (years)	22 years
Nonrecourse Project Finance Debt | United Kingdom, Pounds
Debt Instrument [Line Items]
Non recourse debt bridge financing | £		£ 12.2
Fasttrax Limited (Fasttrax project) | Nonrecourse Project Finance Debt | United States of America, Dollars
Debt Instrument [Line Items]
Nonrecourse project debt	$ 120
Non recourse debt bridge financing	$ 17

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Mar. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Effective tax rate on income from operations (percentage)	22.00%	21.00%	20.00%	23.00%
Effective income tax rate, estimated (percentage)			23.00%
Transition tax for the period			$ 77
Transition tax, liability					$ 223
Deferred tax assets, valuation allowance	$ 149		149			$ 217
Change in valuation allowance	(67)	$ (16)	(68)	$ (19)
Liabilities for uncertain tax positions	$ 105		$ 105			$ 184

U.S. Government Matters (Detail

U.S. Government Matters (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018USD ($)lawsuitsclaim	Jun. 30, 2017USD ($)	Jun. 30, 2018USD ($)lawsuitssubcontractordefendentclaim	Jun. 30, 2017USD ($)	Dec. 31, 2017USD ($)	Jun. 12, 2017USD ($)	Mar. 31, 2011USD ($)
Form 1's [Abstract]
Revenues	$ 1,267	$ 1,094	$ 2,305	$ 2,200
Government contract receivable	77		77		$ 79
Government Services
Form 1's [Abstract]
Outstanding Form 1's questioning	171		171
Revenues			88
Government contract receivable	83		83
Amount withheld from subcontractors	26		26
Reserve For Potentially Disallowable Costs Incurred Under Government Contracts
Form 1's [Abstract]
Accrued reserve for unallowable costs	55		55		$ 51
Private Security
Form 1's [Abstract]
Outstanding Form 1's questioning	56		56
Revenues			11
Government contract receivable	45		45			$ 45
First Kuwaiti Trading Company Arbitration
First Kuwaiti Trading Company Arbitration [Abstract]
Damages awarded, value			17
Amount owed to subcontractor	32		32
Payments on contract Work			19
Payable on contract work	$ 26		$ 26
qui tams
Qui Tams [Abstract]
Number of active claims | claim	2		2
Number of cases pending | lawsuits	1		1
Percent of legal fees billable to the U.S. government			80.00%
Legal fees			$ 4
Howard qui tam
Qui Tams [Abstract]
Estimate of possible loss							$ 628
DOJFCA
Qui Tams [Abstract]
Number of Subcontractors | subcontractor			2
DOJ False Claims Act Complaint [Abstract]
Number of defendants | defendent			3
Minimum | Burn Pit Litigation
Burn Pitt Litigation [Abstract]
Pending claims, number | lawsuits	60		60
Pay-When-Paid Terms | First Kuwaiti Trading Company Arbitration
First Kuwaiti Trading Company Arbitration [Abstract]
Payments on contract Work			$ 4
Claims Receivable | Government Services
Form 1's [Abstract]
Government contract receivable	$ 77		77
Contract Assets | Government Services
Form 1's [Abstract]
Government contract receivable	4		4
Accounts Receivable | Government Services
Form 1's [Abstract]
Government contract receivable	$ 2		$ 2

Other Commitments and Conting78

Other Commitments and Contingencies (Details) - USD ($) $ in Millions	Apr. 06, 2017	Jun. 30, 2017	Jun. 30, 2017
Gain Contingencies [Line Items]
Gain from litigation settlement		$ 35	$ 35
Litigation Case with PEMEX and PEP
Gain Contingencies [Line Items]
Payment of settlement amount	$ 435

Ichthys LNG Project (Details)

Ichthys LNG Project (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017	Nov. 30, 2017
Other Commitments [Line Items]
Amounts recognized over time based on progress at end of period	$ 887	$ 490
Changes in estimates at completion	10	$ 280
Commitments, estimated recovery				$ 1,700
Cost Reimbursable
Other Commitments [Line Items]
Amounts recognized over time based on progress at end of period	$ 168
Changes in estimates at completion			$ 177
JKC joint venture (Ichthys LNG project)
Other Commitments [Line Items]
Ownership percentage	30.00%

Shareholders' Equity (Sharehold

Shareholders' Equity (Shareholders' Equity Activities) (Details) - USD ($) $ in Millions	Jan. 01, 2018	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	$ 1,221			$ 1,221	$ 745
Cumulative effect of change in accounting policy, net of tax of $6						$ 144
Adjusted balance						1,365
Consolidation and acquisition of noncontrolling in Aspire entities (see Note 5)				74
Share-based compensation				6	5
Common stock issued upon exercise of stock options				0
Dividends declared to shareholders				(22)	(22)
Repurchases of common stock				(3)	(52)
Issuance of ESPP shares				2	1
Distributions to noncontrolling interests					(1)
Other noncontrolling interests activity				1
Net income		$ 62	$ 79	201	117
Other comprehensive (loss) income, net of tax		(23)	(2)	(14)	18
Ending Balance		1,610	811	1,610	811
Cumulative effect of change in accounting policy, tax	6
PIC
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	2,091			2,091	2,088
Cumulative effect of change in accounting policy, net of tax of $6						0
Adjusted balance						2,091
Consolidation and acquisition of noncontrolling in Aspire entities (see Note 5)				74
Share-based compensation				6	5
Common stock issued upon exercise of stock options				0
Dividends declared to shareholders				0	0
Repurchases of common stock				0	0
Issuance of ESPP shares				0	0
Distributions to noncontrolling interests					0
Other noncontrolling interests activity				0
Net income				0	0
Other comprehensive (loss) income, net of tax				0	0
Ending Balance		2,171	2,093	2,171	2,093
Retained Earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	877			877	488
Cumulative effect of change in accounting policy, net of tax of $6						144
Adjusted balance						1,021
Consolidation and acquisition of noncontrolling in Aspire entities (see Note 5)				0
Share-based compensation				0	0
Common stock issued upon exercise of stock options				0
Dividends declared to shareholders				(22)	(22)
Repurchases of common stock				0	0
Issuance of ESPP shares				0	0
Distributions to noncontrolling interests					0
Other noncontrolling interests activity				0
Net income				180	114
Other comprehensive (loss) income, net of tax				0	0
Ending Balance		1,179	580	1,179	580
Treasury Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	(818)			(818)	(769)
Cumulative effect of change in accounting policy, net of tax of $6						0
Adjusted balance						(818)
Consolidation and acquisition of noncontrolling in Aspire entities (see Note 5)				0
Share-based compensation				0	0
Common stock issued upon exercise of stock options				0
Dividends declared to shareholders				0	0
Repurchases of common stock				(3)	(52)
Issuance of ESPP shares				2	1
Distributions to noncontrolling interests					0
Other noncontrolling interests activity				0
Net income				0	0
Other comprehensive (loss) income, net of tax				0	0
Ending Balance		(819)	(820)	(819)	(820)
AOCL
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	(921)			(921)	(1,050)
Cumulative effect of change in accounting policy, net of tax of $6						0
Adjusted balance						(921)
Consolidation and acquisition of noncontrolling in Aspire entities (see Note 5)				0
Share-based compensation				0	0
Common stock issued upon exercise of stock options				0
Dividends declared to shareholders				0	0
Repurchases of common stock				0	0
Issuance of ESPP shares				0	0
Distributions to noncontrolling interests					0
Other noncontrolling interests activity				0
Net income				0	0
Other comprehensive (loss) income, net of tax				(14)	20
Ending Balance		(935)	(1,030)	(935)	(1,030)
NCI
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	$ (8)			(8)	(12)
Cumulative effect of change in accounting policy, net of tax of $6						0
Adjusted balance						$ (8)
Consolidation and acquisition of noncontrolling in Aspire entities (see Note 5)				0
Share-based compensation				0	0
Common stock issued upon exercise of stock options				0
Dividends declared to shareholders				0	0
Repurchases of common stock				0	0
Issuance of ESPP shares				0	0
Distributions to noncontrolling interests					(1)
Other noncontrolling interests activity				1
Net income				21	3
Other comprehensive (loss) income, net of tax				0	(2)
Ending Balance		$ 14	$ (12)	$ 14	$ (12)

Shareholders' Equity (Accumulat

Shareholders' Equity (Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss (AOCL)	$ (935)	$ (1,030)	$ (921)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance	1,221	745
Ending Balance	1,610	811
Accumulated foreign currency translation adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss (AOCL)	(281)	(255)
Accumulated other comprehensive income, tax	1	3
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance	(258)	(262)
Other comprehensive income adjustments before reclassifications	28	(7)
Amounts reclassified from accumulated other comprehensive income	5	0
Ending Balance	(281)	(255)
Accumulated pension liability adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss (AOCL)	(647)	(772)
Accumulated other comprehensive income, tax	225	251
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance	(660)	(785)
Other comprehensive income adjustments before reclassifications	0	0
Amounts reclassified from accumulated other comprehensive income	13	13
Ending Balance	(647)	(772)
Changes in fair value of derivatives
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss (AOCL)	(7)	(3)
Accumulated other comprehensive income, tax	0	0
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance	(3)	(3)
Other comprehensive income adjustments before reclassifications	4	0
Amounts reclassified from accumulated other comprehensive income	0	0
Ending Balance	(7)	(3)
AOCL
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance	(921)	(1,050)
Other comprehensive income adjustments before reclassifications	32	(7)
Amounts reclassified from accumulated other comprehensive income	18	13
Ending Balance	$ (935)	$ (1,030)

Shareholders' Equity (Reclassif

Shareholders' Equity (Reclassification out of AOCI) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Accumulated foreign currency adjustments
Gain on consolidation of Aspire entities	$ 0	$ 0	$ 115	$ 0
Provision for income taxes	(18)	21	52	34
Net income	$ 62	$ 79	201	117
Accumulated pension liability adjustments
Accumulated pension liability adjustments
Amortization of actuarial loss			(15)	(16)
Tax benefit			2	3
Net pension and post-retirement benefits			(13)	(13)
Reclassification out of Accumulated Other Comprehensive Income | Accumulated foreign currency adjustments
Accumulated foreign currency adjustments
Gain on consolidation of Aspire entities			(5)	0
Provision for income taxes			0	0
Net income			$ (5)	$ 0

Share Repurchases (Details)

Share Repurchases (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Feb. 25, 2014
Equity, Class of Treasury Stock [Line Items]
Number of Shares	16,321	3,360,841	170,606	3,510,509
Average Price per Share (usd per share)	$ 18.14	$ 14.92	$ 15.69	$ 14.93
Dollars	$ 0	$ 50,000,000	$ 3,000,000	$ 52,000,000
Repurchases under the $350 million authorized share repurchase program
Equity, Class of Treasury Stock [Line Items]
Shares authorized, amount					$ 350,000,000
Number of Shares	0	3,345,366	0	3,345,366
Average Price per Share (usd per share)	$ 0	$ 14.93	$ 0	$ 14.93
Dollars	$ 0	$ 50,000,000	$ 0	$ 50,000,000
Withheld to cover shares
Equity, Class of Treasury Stock [Line Items]
Number of Shares	16,321	15,475	170,606	165,143
Average Price per Share (usd per share)	$ 18.14	$ 14.45	$ 15.69	$ 15.08
Dollars	$ 0	$ 0	$ 3,000,000	$ 2,000,000

Income Per Share (Schedule Of B

Income Per Share (Schedule Of Basic And Diluted Weighted Average Common Shares Outstanding) (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Earnings Per Share [Abstract]
Basic weighted average common shares outstanding (shares)	140	141	140	142
Stock options and restricted shares (shares)	1	0	1	0
Diluted weighted average common shares outstanding (shares)	141	141	141	142

Income per Share (Narrative) (D

Income per Share (Narrative) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Earnings Per Share [Abstract]
Earnings Per Share, Basic, Undistributed	$ 0.01		$ 0.01
Undistributed earnings (loss) allocated to participating securities, diluted	$ 0.3	$ 0.6	$ 1.1	$ 0.8
Antidilutive weighted average shares (shares)	1.7	2.3	1.7	2.4

Financial Instruments And Ris86

Financial Instruments And Risk Management (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Risks Inherent in Servicing Assets and Servicing Liabilities [Line Items]
Maximum length of time hedged in balance sheet hedge			11 years
Maximum length of time hedged in cash flow hedge			25 years
Balance sheet hedges - fair value	$ (1)	$ 3	$ 1	$ 4
Balance sheet position - remeasurement	2	(4)	(6)	(11)
Net	1	$ (1)	(5)	$ (7)
Balance Sheet Hedge
Risks Inherent in Servicing Assets and Servicing Liabilities [Line Items]
Derivative, notional amount	69		69
Cash Flow Hedging
Risks Inherent in Servicing Assets and Servicing Liabilities [Line Items]
Cash flow hedge	$ 181		$ 181