KBR INC
For the period ended Jun 28, 2024. Filed Jul 24, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 28, 2024 · Filed Jul 24, 2024
KBR$38.90+0.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
(In millions)
| Six Months Ended | ||
|---|---|---|
| June 28, | June 30, | |
| 2024 | 2023 | |
| Cash flows from operating activities: | ||
| Net income (loss) | $201 | $(264) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
| Charges associated with Convertible Notes | — | 314 |
| Legal settlement of legacy matter | — | 144 |
| Depreciation and amortization | 71 | 70 |
| Equity in earnings of unconsolidated affiliates | (70) | (46) |
| Deferred income tax | 18 | 19 |
| Gain on disposition of assets | (6) | — |
| Other | 23 | 13 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable, net of allowance for credit losses | (15) | (72) |
| Contract assets | (41) | 22 |
| Accounts payable | 77 | 77 |
| Contract liabilities | (5) | 50 |
| Accrued salaries, wages and benefits | 23 | 6 |
| Payments on operating lease obligation | (32) | (29) |
| Payments from unconsolidated affiliates, net | 5 | 6 |
| Distributions of earnings from unconsolidated affiliates | 99 | 37 |
| Pension funding | (18) | (9) |
| Other assets and liabilities | (69) | (50) |
| Total cash flows provided by operating activities | $261 | $288 |
| Cash flows from investing activities: | ||
| Purchases of property, plant and equipment | $(35) | $(38) |
| Proceeds from sale of assets or investments | 6 | — |
| Return of (investments in) equity method joint ventures, net | 36 | 61 |
| Funding in other investment | — | (39) |
| Other | 1 | (5) |
| Total cash flows provided by (used in) investing activities | $8 | $(21) |
| Cash flows from financing activities: | ||
| Borrowings on long-term debt | $24 | $— |
| Borrowings on Revolver | 168 | 330 |
| Payments on short-term and long-term debt | (81) | (8) |
| Payments on Revolver | (13) | (75) |
| Payments on settlement of warrants | (33) | (101) |
| Proceeds from the settlement of note hedge | — | 150 |
| Payments to settle Convertible Notes | — | (250) |
| Debt issuance costs | (16) | — |
| Payments of dividends to shareholders | (39) | (35) |
| Payments to reacquire common stock | (158) | (137) |
| Other | (10) | — |
| Total cash flows used in financing activities | $(158) | $(126) |
| Effect of exchange rate changes on cash | (1) | 9 |
| Increase in cash and cash equivalents | 110 | 150 |
| Cash and cash equivalents at beginning of period | 304 | 389 |
| Cash and cash equivalents at end of period | $414 | $539 |
| Supplemental disclosure of cash flows information: | ||
| Noncash financing activities | ||
| Dividends declared | $20 | $18 |
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