KBR, INC.
For the period ended Jan 2, 2026. Filed Feb 26, 2026.
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FY2026 · Filed Feb 26, 2026
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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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
(In millions)
| Year ended | |||
|---|---|---|---|
| January 2, 2026 | January 3, 2025 | December 29, 2023 | |
| Cash flows from operating activities: | |||
| Net income (loss) | $403 | $381 | $(261) |
| Net (income) loss from discontinued operations, net of tax | 55 | (2) | 1 |
| Net income (loss) from continuing operations | 458 | 379 | (260) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||
| Charges associated with Convertible Notes | — | — | 494 |
| Depreciation and amortization | 169 | 156 | 141 |
| Equity in earnings of unconsolidated affiliates | (210) | (107) | (114) |
| Deferred income tax | 60 | 1 | 14 |
| Other | (1) | (11) | 12 |
| Changes in operating assets and liabilities, net of acquired businesses: | |||
| Accounts receivable, net of allowance for credit losses | (2) | 5 | (32) |
| Contract assets | (3) | (93) | 38 |
| Accounts payable | (70) | 147 | (53) |
| Contract liabilities | (16) | (29) | 76 |
| Accrued salaries, wages and benefits | (2) | (7) | 21 |
| Payments on operating lease liabilities | (81) | (71) | (65) |
| Payments from unconsolidated affiliates, net | 9 | 9 | 18 |
| Distributions of earnings from unconsolidated affiliates | 170 | 163 | 74 |
| Pension funding | (3) | (62) | (9) |
| Other assets and liabilities | 79 | (30) | (54) |
| Total cash flows provided by operating activities - continuing operations | $557 | $450 | $301 |
| Cash flows from investing activities: | |||
| Purchases of property, plant and equipment | $(42) | $(52) | $(62) |
| Proceeds from sale of assets or investments | 3 | 7 | — |
| Return of equity method investments, net | 82 | 36 | 60 |
| Acquisitions of businesses, net of cash acquired | (14) | (738) | — |
| Funding in other investment | (10) | (5) | (39) |
| Other | (3) | 1 | (11) |
| Total cash flows provided by (used in) investing activities - continuing operations | $16 | $(751) | $(52) |
| Year ended | |||
|---|---|---|---|
| January 2, 2026 | January 3, 2025 | December 29, 2023 | |
| Cash flows from financing activities: | |||
| Borrowings on short-term and long-term debt | $— | $574 | $— |
| Borrowings on Revolver | 555 | 393 | 785 |
| Payments on short-term and long-term debt | (36) | (124) | (17) |
| Payments on Revolver | (505) | (98) | (340) |
| Payments to repurchase common stock | (329) | (218) | (138) |
| Payments on settlement of warrants | — | (33) | (217) |
| Debt issuance costs | — | (18) | — |
| Proceeds from the settlement of note hedge | — | — | 493 |
| Payments to settle Convertible Notes | — | — | (843) |
| Acquisition of noncontrolling interest | — | (10) | — |
| Payments of dividends to shareholders | (84) | (79) | (72) |
| Other | (4) | (13) | (10) |
| 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 | — | — |
| Total cash flows from discontinued operations | $(33) | $(13) | $12 |
| Effect of exchange rate changes on cash | 18 | (14) | 13 |
| Increase (decrease) in cash and cash equivalents | 155 | 46 | (85) |
| Cash and cash equivalents at beginning of period | 350 | 304 | 389 |
| Cash and cash equivalents at end of period | $505 | $350 | $304 |
| Less: cash and cash equivalents of discontinued operations | 5 | 8 | 21 |
| Cash and cash equivalents at end of period for continuing operations | $500 | $342 | $283 |
| Supplemental disclosure of cash flows information: | |||
| Cash paid for interest | $141 | $124 | $102 |
| Cash paid for income taxes (net of refunds) | $83 | $82 | $52 |
| Noncash financing activities | |||
| Dividends declared | $21 | $20 | $18 |
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