KBR, INC.

Listed Company

KBRCIK 0001357615NYSELarge AcceleratedHeavy Construction Other Than Bldg Const - ContractorsDelawareFY ends Jan 1

Period

FY 2025

Revenue

$7.79B

Net Income

$415.00M

Total Assets

$6.58B

Equity

$1.50B

Shares Out

126.47M

Op. Cash Flow

$557.00M

Business

KBR, Inc. delivers science, technology, engineering and logistics support solutions to government and commercial clients worldwide, focusing on mission-critical and sustainability-driven programs. It offers systems engineering, advanced prototyping, test and evaluation, data analytics, digital and AI/ML solutions, space and C5ISR capabilities, scientific research, proprietary process technologies, engineering and project management, advisory services, and lifecycle logistics and sustainment. The company operates through two core segments—Government Solutions (Mission Technology Solutions) and Sustainable Technology Solutions—and a non-core Corporate segment. Its work is delivered primarily to U.S., U.K. and Australian government agencies and to commercial and industrial customers globally through direct contracts and joint ventures.

Summary from filing dated 2025-02-25

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenues	7,786	7,710	6,956	6,564	7,339
Cost of revenues	−6,636	−6,611	−5,979	−5,736	−6,533
Gross profit	1,150	1,099	977	828	806
Equity in earnings of unconsolidated affiliates	210	107	114	−80	−170
Selling, general and administrative expenses	−578	−543	−487	−420	−393
Legal settlement of legacy matter	0	0	−144	0	0
Other	−4	−4	−11	−4	—
Operating income	778	659	449	343	231
Interest expense	−158	−144	−115	−87	—
Charges associated with Convertible Notes	0	0	−494	0	0
Other non-operating expense	−6	−7	−5	12	−9
Income (loss) from continuing operations before income taxes	614	508	−165	284	146
Provision for income taxes	−156	−129	−95	−92	−111
Net income (loss) from continuing operations	458	379	−260	—	—
Net income (loss) from discontinued operations, net of tax	−55	2	−1	—	—
Net income (loss)	403	381	−261	192	35
Less: Net income attributable to noncontrolling interests included in continuing operations	7	5	4	—	—
Less: Net income (loss) attributable to noncontrolling interests included in discontinued operations	−19	1	0	—	—
Net income (loss) attributable to KBR	415	375	−265	190	27
Basic earnings (loss) per share from continuing operations (in usd per share)	3.49	2.78	−1.96	—	—
Basic earnings (loss) per share from discontinued operations (in usd per share)	−0.28	0.01	0	—	—
Basic earnings (loss) per share attributable to KBR (in usd per share)	3.21	2.79	−1.96	1.36	0.19
Diluted earnings (loss) per share from continuing operations (in usd per share)	3.49	2.78	−1.96	—	—
Diluted earnings (loss) per share from discontinued operations (in usd per share)	−0.28	0.01	0	—	—
Diluted earnings (loss) per share attributable to KBR (in usd per share)	3.21	2.79	−1.96	1.26	0.19
Basic weighted average common shares outstanding (in shares)	129	134	135	139	140
Diluted weighted average common shares outstanding (in shares)	129	134	135	156	141
Cash dividends declared per share ( in usd per share)	0.66	0.6	0.54	0.48	0.44

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	500	342	304	389	370
Accounts receivable, net of allowance for credit losses of $6 and $9, respectively	1,086	1,066	981	942	1,411
Contract assets	280	271	177	252	224
Other current assets	166	173	189	164	147
Current assets of discontinued operations	19	21	—	—	—
Total current assets	2,051	1,873	1,651	1,747	2,152
Pension assets	89	82	0	46	1
Property, plant and equipment, net of accumulated depreciation of $506 and $474 (including net PPE of $5 and $5 owned by a variable interest entity), respectively	232	237	239	182	136
Operating lease right-of-use assets	217	203	138	164	158
Goodwill	2,677	2,630	2,109	2,087	2,060
Intangible assets, net of accumulated amortization of $501 and $427, respectively	727	763	618	645	708
Equity in and advances to unconsolidated affiliates	107	192	206	188	576
Deferred income taxes	162	209	239	213	231
Other assets	322	396	365	294	152
Non-current assets of discontinued operations	0	78	—	—	—
Total assets	6,584	6,663	5,565	5,566	6,204
Accounts payable	712	772	593	637	1,026
Contract liabilities	331	328	359	275	313
Accrued salaries, wages and benefits	342	351	340	325	317
Current maturities of long-term debt	49	36	31	364	16
Other current liabilities	235	280	249	220	162
Current liabilities of discontinued operations	19	15	—	—	—
Total current liabilities	1,688	1,782	1,572	1,821	1,875
Employee compensation and benefits	144	135	120	105	111
Income tax payable	83	122	106	117	95
Deferred income taxes	95	83	106	92	70
Long-term debt	2,547	2,533	1,801	1,376	1,875
Operating lease liabilities	236	228	176	193	188
Other liabilities	279	244	290	230	219
Non-current liabilities of discontinued operations	0	69	—	—	—
Total liabilities	5,072	5,196	4,171	3,934	4,521
Commitments and Contingencies (Notes 6, 13 and 14)	—	—	—	—	—
Preferred stock, $0.001 par value, 50,000,000 shares authorized, none issued	0	0	0	0	0
Common stock, $0.001 par value 300,000,000 shares authorized, 182,891,428 and 182,469,230 shares issued, and 126,454,289 and 132,435,609 shares outstanding, respectively	0	0	0	0	0
PIC	2,552	2,526	2,505	2,235	2,206
Retained earnings	1,697	1,367	1,072	1,410	1,287
Treasury stock, 56,437,139 shares and 50,033,621 shares, at cost, respectively	−1,818	−1,494	−1,279	−1,143	−943
AOCL	−928	−946	−915	−882	−881
Total KBR shareholders' equity	1,503	1,453	1,383	1,620	1,669
Noncontrolling interests	9	14	11	12	14
Total shareholders' equity	1,512	1,467	1,394	1,632	1,683
Total liabilities and shareholders equity	6,584	6,663	5,565	5,566	6,204

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	169	156	141	137	146
Deferred income tax	60	1	14	37	47
Other	−1	−11	12	33	50
Accounts receivable, net of allowance for credit losses	−2	5	−32	455	−476
Contract assets	−3	−93	38	−30	−48
Accounts payable	−70	147	−53	−376	447
Contract liabilities	−16	−29	76	−25	−17
Accrued salaries, wages and benefits	−2	−7	21	16	38
Payments on operating lease liabilities	−81	−71	−65	−63	−59
Payments from unconsolidated affiliates, net	9	9	18	14	17
Distributions of earnings from unconsolidated affiliates	170	163	74	66	47
Pension funding	−3	−62	−9	−74	−46
Other assets and liabilities	79	−30	−54	−31	−41
Total cash flows provided by operating activities - continuing operations	557	450	301	—	—
Purchases of property, plant and equipment	−42	−52	−62	−71	−30
Proceeds from sale of assets or investments	3	7	0	47	44
Return of equity method investments, net	82	36	60	198	—
Acquisitions of businesses, net of cash acquired	−14	−738	0	−73	−399
Funding in other investment	−10	−5	−39	−61	−7
Other	−3	1	−11	−3	−7
Total cash flows provided by (used in) investing activities - continuing operations	16	−751	−52	—	—
Borrowings on short-term and long-term debt	0	574	0	0	290
Borrowings on Revolver	555	393	785	58	126
Payments on short-term and long-term debt	−36	−124	−17	−16	−15
Payments on Revolver	−505	−98	−340	−158	−16
Payments to repurchase common stock	−329	−218	−138	−203	−82
Payments on settlement of warrants	0	−33	−217	0	0
Debt issuance costs	0	−18	0	−6	−3
Proceeds from the settlement of note hedge	0	0	493	0	0
Payments to settle Convertible Notes	0	0	−843	0	0
Acquisition of noncontrolling interest	0	−10	0	0	—
Payments of dividends to shareholders	−84	−79	−72	−66	−61
Other	−4	−13	−10	−8	−15
Total cash flows provided by (used in) financing activities - continuing operations	−403	374	−359	—	—
Total operating cash flows from discontinued operations	−33	12	30	—	—
Total investing cash flows from discontinued operations	−12	−25	−18	—	—
Total financing cash flows from discontinued operations	12	0	0	—	—
Total cash flows from discontinued operations	−33	−13	12	—	—
Effect of exchange rate changes on cash	18	−14	13	−15	−3
Increase (decrease) in cash and cash equivalents	155	46	−85	19	−66
Cash paid for interest	141	124	102	66	63
Cash paid for income taxes (net of refunds)	83	82	52	47	49

Filings

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