2017 Form 8-K Financial Statement

#000135761518000193 Filed on October 30, 2018

View on sec.gov

Income Statement

Concept 2017 2016 Q4 2016 Q3
Revenue $4.171B $1.190B $1.073B
YoY Change -2.27% 10.19% -10.51%
Cost Of Revenue $3.732B $1.184B $1.109B
YoY Change -10.2% 20.08% -0.27%
Gross Profit $439.0M $6.000M -$36.00M
YoY Change 291.96% -93.62% -141.38%
Gross Profit Margin 10.53% 0.5% -3.36%
Selling, General & Admin $244.0M $32.00M $43.00M
YoY Change 70.63% -11.11% 13.16%
% of Gross Profit 55.58% 533.33%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $48.00M $14.00M $12.00M
YoY Change 6.67% 40.0% 20.0%
% of Gross Profit 10.93% 233.33%
Operating Expenses $244.0M $32.00M $43.00M
YoY Change 70.63% -11.11% 13.16%
Operating Profit $264.0M -$33.00M -$67.00M
YoY Change 1289.47% -144.0% -189.33%
Interest Expense $21.00M $10.00M $3.000M
YoY Change 61.54% -61.54% -91.43%
% of Operating Profit 7.95%
Other Income/Expense, Net $4.000M $4.000M $2.000M
YoY Change -77.78% -300.0% -33.33%
Pretax Income $247.0M -$29.00M -$68.00M
YoY Change 929.17% -139.73% -187.18%
Income Tax -$193.0M $57.00M -$11.00M
% Of Pretax Income -78.14%
Net Earnings $432.0M -$87.00M -$63.00M
YoY Change -717.14% -307.14% -214.55%
Net Earnings / Revenue 10.36% -7.31% -5.87%
Basic Earnings Per Share $3.05 -$0.61 -$0.44
Diluted Earnings Per Share $3.05 -$0.61 -$0.44
COMMON SHARES
Basic Shares Outstanding 141.0M shares 142.7M shares 142.0M shares
Diluted Shares Outstanding 141.0M shares 142.0M shares

Balance Sheet

Concept 2017 2016 Q4 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $439.0M $536.0M $569.0M
YoY Change -18.1% -39.3% -25.91%
Cash & Equivalents $439.0M $536.0M $569.0M
Short-Term Investments
Other Short-Term Assets $82.00M $103.0M $123.0M
YoY Change -20.39% -5.5% -13.99%
Inventory
Prepaid Expenses $56.00M
Receivables $893.0M $1.408B $1.098B
Other Receivables $11.00M $0.00 $0.00
Total Short-Term Assets $1.425B $2.047B $1.790B
YoY Change -30.39% 11.01% -8.77%
LONG-TERM ASSETS
Property, Plant & Equipment $130.0M $145.0M $165.0M
YoY Change -10.34% -14.2% -16.67%
Goodwill $959.0M $953.0M
YoY Change 195.99% 194.14%
Intangibles $248.0M $257.0M
YoY Change 608.57% 576.32%
Long-Term Investments $387.0M $369.0M $327.0M
YoY Change 4.88% 31.32% 25.29%
Other Assets $424.0M $127.0M $128.0M
YoY Change 73.06% -5.22% -10.49%
Total Long-Term Assets $2.249B $2.097B $2.452B
YoY Change 7.25% 33.74% 45.17%
TOTAL ASSETS
Total Short-Term Assets $1.425B $2.047B $1.790B
Total Long-Term Assets $2.249B $2.097B $2.452B
Total Assets $3.674B $4.144B $4.242B
YoY Change -11.34% 21.45% 16.19%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $350.0M $535.0M $568.0M
YoY Change -34.58% 22.15% 17.11%
Accrued Expenses $210.0M $171.0M $203.0M
YoY Change 4.48% -1.16% 15.34%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $10.00M $9.000M $9.000M
YoY Change 11.11% -10.0% -10.0%
Total Short-Term Liabilities $1.071B $1.559B $1.550B
YoY Change -31.3% 11.92% 2.24%
LONG-TERM LIABILITIES
Long-Term Debt $498.0M $684.0M $690.0M
YoY Change -27.19% 1241.18% 1132.14%
Other Long-Term Liabilities $866.0M $200.0M $208.0M
YoY Change -14.0% -2.91% 3.48%
Total Long-Term Liabilities $1.364B $200.0M $208.0M
YoY Change -19.34% -2.91% 3.48%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.071B $1.559B $1.550B
Total Long-Term Liabilities $1.364B $200.0M $208.0M
Total Liabilities $2.445B $3.399B $3.145B
YoY Change -27.81% 44.03% 17.48%
SHAREHOLDERS EQUITY
Retained Earnings $488.0M $587.0M
YoY Change -17.98% 3.89%
Common Stock $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $769.0M $767.0M
YoY Change 0.0% 5.21%
Treasury Stock Shares 33.10M shares 33.02M shares
Shareholders Equity $1.229B $757.0M $1.111B
YoY Change
Total Liabilities & Shareholders Equity $3.674B $4.144B $4.242B
YoY Change -11.34% 21.45% 16.19%

Cashflow Statement

Concept 2017 2016 Q4 2016 Q3
OPERATING ACTIVITIES
Net Income $432.0M -$87.00M -$63.00M
YoY Change -717.14% -307.14% -214.55%
Depreciation, Depletion And Amortization $48.00M $14.00M $12.00M
YoY Change 6.67% 40.0% 20.0%
Cash From Operating Activities $193.0M $53.00M $20.00M
YoY Change 216.39% -59.85% -62.96%
INVESTING ACTIVITIES
Capital Expenditures -$8.000M -$3.000M -$2.000M
YoY Change -27.27% 50.0% -50.0%
Acquisitions $4.000M
YoY Change -99.56%
Other Investing Activities $2.000M -$56.00M -$893.0M
YoY Change -201.82% -2806.06%
Cash From Investing Activities -$12.00M -$59.00M -$895.0M
YoY Change -98.78% -211.32% -3186.21%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $53.00M
YoY Change 1225.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$290.0M -16.00M 638.0M
YoY Change -149.66% -75.0% -2226.67%
NET CHANGE
Cash From Operating Activities $193.0M 53.00M 20.00M
Cash From Investing Activities -$12.00M -59.00M -895.0M
Cash From Financing Activities -$290.0M -16.00M 638.0M
Net Change In Cash -$97.00M -22.00M -237.0M
YoY Change -71.13% -118.18% -547.17%
FREE CASH FLOW
Cash From Operating Activities $193.0M $53.00M $20.00M
Capital Expenditures -$8.000M -$3.000M -$2.000M
Free Cash Flow $201.0M $56.00M $22.00M
YoY Change 179.17% -58.21% -62.07%

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3250000000 USD
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100000000 USD
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122000000 USD
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117000000 USD
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14000000 USD
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9000000 USD
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10000000 USD
CY2017Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
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14000000 USD
CY2017Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
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14000000 USD
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ForeignIncomeTaxExpenseBenefitContinuingOperations
77000000 USD
CY2016 us-gaap Foreign Income Tax Expense Benefit Continuing Operations
ForeignIncomeTaxExpenseBenefitContinuingOperations
87000000 USD
CY2017 us-gaap Foreign Income Tax Expense Benefit Continuing Operations
ForeignIncomeTaxExpenseBenefitContinuingOperations
30000000 USD
CY2015 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
61000000 USD
CY2016 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
7000000 USD
CY2017 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
5000000 USD
CY2017 us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
35000000 USD
CY2015 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
155000000 USD
CY2016 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
143000000 USD
CY2017 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
147000000 USD
CY2015Q4 us-gaap Goodwill
Goodwill
324000000 USD
CY2016Q4 us-gaap Goodwill
Goodwill
959000000 USD
CY2017Q4 us-gaap Goodwill
Goodwill
968000000 USD
CY2016 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
638000000 USD
CY2017 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
1000000 USD
CY2016 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-3000000 USD
CY2017 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
4000000 USD
CY2015Q4 us-gaap Goodwill Gross
GoodwillGross
948000000 USD
CY2016Q4 us-gaap Goodwill Gross
GoodwillGross
1583000000 USD
CY2017Q4 us-gaap Goodwill Gross
GoodwillGross
1592000000 USD
CY2015Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
624000000 USD
CY2016Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
624000000 USD
CY2017Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
624000000 USD
CY2016 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
CY2017 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
CY2017 us-gaap Goodwill Purchase Accounting Adjustments
GoodwillPurchaseAccountingAdjustments
4000000 USD
CY2015 us-gaap Gross Profit
GrossProfit
325000000 USD
CY2016Q1 us-gaap Gross Profit
GrossProfit
68000000 USD
CY2016Q2 us-gaap Gross Profit
GrossProfit
74000000 USD
CY2016Q3 us-gaap Gross Profit
GrossProfit
-36000000 USD
CY2016Q4 us-gaap Gross Profit
GrossProfit
6000000 USD
CY2016 us-gaap Gross Profit
GrossProfit
112000000 USD
CY2017Q1 us-gaap Gross Profit
GrossProfit
82000000 USD
CY2017Q2 us-gaap Gross Profit
GrossProfit
108000000 USD
CY2017Q3 us-gaap Gross Profit
GrossProfit
87000000 USD
CY2017Q4 us-gaap Gross Profit
GrossProfit
65000000 USD
CY2017 us-gaap Gross Profit
GrossProfit
342000000 USD
CY2015 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-35000000 USD
CY2016 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-250000000 USD
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
84000000 USD
CY2015 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
312000000 USD
CY2016 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
33000000 USD
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
249000000 USD
CY2015 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
347000000 USD
CY2016 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
283000000 USD
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
165000000 USD
CY2015 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
312000000 USD
CY2016 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
33000000 USD
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
249000000 USD
CY2015 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
149000000 USD
CY2016Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
29000000 USD
CY2016Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
33000000 USD
CY2016Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
19000000 USD
CY2016Q4 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
10000000 USD
CY2016 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
91000000 USD
CY2017Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
9000000 USD
CY2017Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
32000000 USD
CY2017Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
23000000 USD
CY2017Q4 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
8000000 USD
CY2017 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
72000000 USD
CY2017Q4 us-gaap Income Tax Examination Liability Refund Adjustment From Settlement With Taxing Authority
IncomeTaxExaminationLiabilityRefundAdjustmentFromSettlementWithTaxingAuthority
-14000000 USD
CY2015 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
86000000 USD
CY2016 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
84000000 USD
CY2017 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-193000000 USD
CY2015 us-gaap Income Tax Expense Benefit Intraperiod Tax Allocation
IncomeTaxExpenseBenefitIntraperiodTaxAllocation
111000000 USD
CY2016 us-gaap Income Tax Expense Benefit Intraperiod Tax Allocation
IncomeTaxExpenseBenefitIntraperiodTaxAllocation
42000000 USD
CY2017 us-gaap Income Tax Expense Benefit Intraperiod Tax Allocation
IncomeTaxExpenseBenefitIntraperiodTaxAllocation
-172000000 USD
CY2015 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
66000000 USD
CY2016 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
49000000 USD
CY2017 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
144000000 USD
CY2015 us-gaap Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
0 USD
CY2016 us-gaap Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
0 USD
CY2017 us-gaap Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
-400000000 USD
CY2015 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-274000000 USD
CY2016 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-6000000 USD
CY2017 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-193000000 USD
CY2015 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-41000000 USD
CY2016 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-121000000 USD
CY2017 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-92000000 USD
CY2015 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
26000000 USD
CY2016 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-52000000 USD
CY2017 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
0 USD
CY2015 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-2000000 USD
CY2016 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
33000000 USD
CY2017 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-198000000 USD
CY2015 us-gaap Increase Decrease In Derivative Assets And Liabilities
IncreaseDecreaseInDerivativeAssetsAndLiabilities
44000000 USD
CY2016 us-gaap Increase Decrease In Derivative Assets And Liabilities
IncreaseDecreaseInDerivativeAssetsAndLiabilities
9000000 USD
CY2017 us-gaap Increase Decrease In Derivative Assets And Liabilities
IncreaseDecreaseInDerivativeAssetsAndLiabilities
-3000000 USD
CY2015 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-8000000 USD
CY2016 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-50000000 USD
CY2017 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
14000000 USD
CY2016 us-gaap Increase Decrease In Fair Value Of Hedged Item In Interest Rate Fair Value Hedge1
IncreaseDecreaseInFairValueOfHedgedItemInInterestRateFairValueHedge1
27000000 USD
CY2017 us-gaap Increase Decrease In Fair Value Of Hedged Item In Interest Rate Fair Value Hedge1
IncreaseDecreaseInFairValueOfHedgedItemInInterestRateFairValueHedge1
-16000000 USD
CY2015 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-17000000 USD
CY2016 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-68000000 USD
CY2017 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
57000000 USD
CY2015 us-gaap Increase Decrease In Retainage Payable
IncreaseDecreaseInRetainagePayable
-2000000 USD
CY2016 us-gaap Increase Decrease In Retainage Payable
IncreaseDecreaseInRetainagePayable
-2000000 USD
CY2017 us-gaap Increase Decrease In Retainage Payable
IncreaseDecreaseInRetainagePayable
-16000000 USD
CY2015 us-gaap Increase Decrease In Unbilled Receivables
IncreaseDecreaseInUnbilledReceivables
-224000000 USD
CY2016 us-gaap Increase Decrease In Unbilled Receivables
IncreaseDecreaseInUnbilledReceivables
-8000000 USD
CY2017 us-gaap Increase Decrease In Unbilled Receivables
IncreaseDecreaseInUnbilledReceivables
-40000000 USD
CY2015 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2016 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2017 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2016Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
348000000 USD
CY2017Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
361000000 USD
CY2016Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
248000000 USD
CY2017Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
239000000 USD
CY2015 us-gaap Interest Expense
InterestExpense
11000000 USD
CY2016 us-gaap Interest Expense
InterestExpense
13000000 USD
CY2017 us-gaap Interest Expense
InterestExpense
21000000 USD
CY2015 us-gaap Interest Paid
InterestPaid
10000000 USD
CY2016 us-gaap Interest Paid
InterestPaid
12000000 USD
CY2017 us-gaap Interest Paid
InterestPaid
21000000 USD
CY2016 us-gaap Interest Rate Cash Flow Hedge Gain Loss Reclassified To Earnings Net
InterestRateCashFlowHedgeGainLossReclassifiedToEarningsNet
20000000 USD
CY2017 us-gaap Interest Rate Cash Flow Hedge Gain Loss Reclassified To Earnings Net
InterestRateCashFlowHedgeGainLossReclassifiedToEarningsNet
-11000000 USD
CY2016Q4 us-gaap Interest Rate Derivatives At Fair Value Net
InterestRateDerivativesAtFairValueNet
-7000000 USD
CY2017Q4 us-gaap Interest Rate Derivatives At Fair Value Net
InterestRateDerivativesAtFairValueNet
5000000 USD
CY2016Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
369000000 USD
CY2017Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
387000000 USD
CY2016Q4 us-gaap Liabilities
Liabilities
3399000000 USD
CY2017Q4 us-gaap Liabilities
Liabilities
2453000000 USD
CY2016Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
4144000000 USD
CY2017Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
3674000000 USD
CY2016Q4 us-gaap Liabilities Current
LiabilitiesCurrent
1559000000 USD
CY2017Q4 us-gaap Liabilities Current
LiabilitiesCurrent
1071000000 USD
CY2017 us-gaap Line Of Credit Facility Interest Rate Description
LineOfCreditFacilityInterestRateDescription
Amounts drawn under the Credit Agreement will bear interest at variable rates, per annum, based either on (i) the London interbank offered rate ("LIBOR") plus an applicable margin of 1.375% to 1.75%, or (ii) a base rate plus an applicable margin of 0.375% to 0.75%, with the base rate equal to the highest of (a) reference bank’s publicly announced base rate, (b) the Federal Funds Rate plus 0.5%, or (c) LIBOR plus 1%. The amount of the applicable margin to be applied will be determined by the Company’s ratio of consolidated debt to consolidated EBITDA for the prior four fiscal quarters, as defined in the Credit Agreement. The Credit Agreement provides for fees on letters of credit issued under the Credit Agreement at a rate equal to the applicable margin for LIBOR-based loans, except for performance letters of credit, which are priced at 50% of such applicable margin. KBR pays an annual issuance fee of 0.125% of the face amount of a letter of credit and pays a commitment fee of 0.225% to 0.25%, per annum, on any unused portion of the commitment under the Credit Agreement based on the Company's consolidated leverage ratio.
CY2017Q2 us-gaap Litigation Settlement Amount Awarded From Other Party
LitigationSettlementAmountAwardedFromOtherParty
435000000 USD
CY2016Q4 us-gaap Long Term Debt
LongTermDebt
650000000 USD
CY2017Q4 us-gaap Long Term Debt
LongTermDebt
470000000 USD
CY2011Q1 us-gaap Loss Contingency Estimate Of Possible Loss
LossContingencyEstimateOfPossibleLoss
628000000 USD
CY2017 us-gaap Maximum Length Of Time Hedged In Cash Flow Hedge1
MaximumLengthOfTimeHedgedInCashFlowHedge1
P31M
CY2016Q4 us-gaap Minority Interest
MinorityInterest
-12000000 USD
CY2017Q4 us-gaap Minority Interest
MinorityInterest
-8000000 USD
CY2015 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
28000000 USD
CY2016 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
9000000 USD
CY2017 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
4000000 USD
CY2015 us-gaap Minority Interest Decrease From Redemptions
MinorityInterestDecreaseFromRedemptions
40000000 USD
CY2017 us-gaap Minority Interest Decrease From Redemptions
MinorityInterestDecreaseFromRedemptions
8000000 USD
CY2015Q4 us-gaap Minority Interest Ownership Percentage By Noncontrolling Owners
MinorityInterestOwnershipPercentageByNoncontrollingOwners
0.25
CY2015 us-gaap Multiemployer Plan Contributions By Employer
MultiemployerPlanContributionsByEmployer
8000000 USD
CY2016 us-gaap Multiemployer Plan Contributions By Employer
MultiemployerPlanContributionsByEmployer
1000000 USD
CY2017 us-gaap Multiemployer Plan Contributions By Employer
MultiemployerPlanContributionsByEmployer
3000000 USD
CY2015 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-192000000 USD
CY2016 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
584000000 USD
CY2017 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-290000000 USD
CY2015 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
101000000 USD
CY2016 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-981000000 USD
CY2017 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-12000000 USD
CY2015 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
47000000 USD
CY2016 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
61000000 USD
CY2017 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
193000000 USD
CY2015 us-gaap Net Income Loss
NetIncomeLoss
203000000 USD
CY2016Q1 us-gaap Net Income Loss
NetIncomeLoss
42000000 USD
CY2016Q2 us-gaap Net Income Loss
NetIncomeLoss
47000000 USD
CY2016Q3 us-gaap Net Income Loss
NetIncomeLoss
-63000000 USD
CY2016Q4 us-gaap Net Income Loss
NetIncomeLoss
-87000000 USD
CY2016 us-gaap Net Income Loss
NetIncomeLoss
-61000000 USD
CY2017Q1 us-gaap Net Income Loss
NetIncomeLoss
37000000 USD
CY2017Q2 us-gaap Net Income Loss
NetIncomeLoss
77000000 USD
CY2017Q3 us-gaap Net Income Loss
NetIncomeLoss
45000000 USD
CY2017Q4 us-gaap Net Income Loss
NetIncomeLoss
275000000 USD
CY2017 us-gaap Net Income Loss
NetIncomeLoss
434000000 USD
CY2015 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
23000000 USD
CY2016Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
3000000 USD
CY2016Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
0 USD
CY2016Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
6000000 USD
CY2016Q4 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1000000 USD
CY2016 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
10000000 USD
CY2017Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1000000 USD
CY2017Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
2000000 USD
CY2017Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
2000000 USD
CY2017Q4 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
3000000 USD
CY2017 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
8000000 USD
CY2016Q4 us-gaap Non Recourse Debt
NonRecourseDebt
34000000 USD
CY2017Q4 us-gaap Non Recourse Debt
NonRecourseDebt
28000000 USD
CY2015Q1 us-gaap Noncontrolling Interest In Variable Interest Entity
NoncontrollingInterestInVariableInterestEntity
40000000 USD
CY2017Q4 us-gaap Noncontrolling Interest In Variable Interest Entity
NoncontrollingInterestInVariableInterestEntity
8000000 USD
CY2017 us-gaap Noncontrolling Interest Increase From Subsidiary Equity Issuance
NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance
1000000 USD
CY2016Q4 us-gaap Notes And Loans Receivable Net Current
NotesAndLoansReceivableNetCurrent
592000000 USD
CY2017Q4 us-gaap Notes And Loans Receivable Net Current
NotesAndLoansReceivableNetCurrent
510000000 USD
CY2015 us-gaap Operating Income Loss
OperatingIncomeLoss
310000000 USD
CY2016Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
65000000 USD
CY2016Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
63000000 USD
CY2016Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-67000000 USD
CY2016Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
-33000000 USD
CY2016 us-gaap Operating Income Loss
OperatingIncomeLoss
28000000 USD
CY2017Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
63000000 USD
CY2017Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
103000000 USD
CY2017Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
73000000 USD
CY2017Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
27000000 USD
CY2017 us-gaap Operating Income Loss
OperatingIncomeLoss
266000000 USD
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
86000000 USD
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
41000000 USD
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
48000000 USD
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
57000000 USD
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
70000000 USD
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
263000000 USD
CY2015 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
155000000 USD
CY2016 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
154000000 USD
CY2017 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
139000000 USD
CY2015 us-gaap Other Asset Impairment Charges
OtherAssetImpairmentCharges
31000000 USD
CY2016 us-gaap Other Asset Impairment Charges
OtherAssetImpairmentCharges
17000000 USD
CY2017 us-gaap Other Asset Impairment Charges
OtherAssetImpairmentCharges
0 USD
CY2016Q4 us-gaap Other Assets Current
OtherAssetsCurrent
103000000 USD
CY2017Q4 us-gaap Other Assets Current
OtherAssetsCurrent
93000000 USD
CY2016Q4 us-gaap Other Assets Miscellaneous Current
OtherAssetsMiscellaneousCurrent
30000000 USD
CY2017Q4 us-gaap Other Assets Miscellaneous Current
OtherAssetsMiscellaneousCurrent
29000000 USD
CY2016Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
127000000 USD
CY2017Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
124000000 USD
CY2015 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax
71000000 USD
CY2016 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax
-249000000 USD
CY2017 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax
100000000 USD
CY2015 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-68000000 USD
CY2016 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
7000000 USD
CY2017 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
3000000 USD
CY2016 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-242000000 USD
CY2017 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
105000000 USD
CY2015 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
1000000 USD
CY2016 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
-1000000 USD
CY2017 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
0 USD
CY2015 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-64000000 USD
CY2016 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
7000000 USD
CY2017 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
3000000 USD
CY2015 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Reclassification Adjustment From Aoci Realized Upon Sale Or Liquidation Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationReclassificationAdjustmentFromAOCIRealizedUponSaleOrLiquidationNetOfTax
-4000000 USD
CY2016 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Reclassification Adjustment From Aoci Realized Upon Sale Or Liquidation Net Of Tax
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CY2016Q4 us-gaap Treasury Stock Shares
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21000000 USD
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5000000 USD
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35000000 USD
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10000000 USD
CY2017 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
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6000000 USD
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170000000 USD
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ValuationAllowanceDeferredTaxAssetChangeInAmount
-325000000 USD
CY2016Q4 us-gaap Value Added Tax Receivable Current
ValueAddedTaxReceivableCurrent
17000000 USD
CY2017Q4 us-gaap Value Added Tax Receivable Current
ValueAddedTaxReceivableCurrent
11000000 USD
CY2015 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
144000000 shares
CY2016 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
142000000 shares
CY2017 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
141000000 shares
CY2015 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
144000000 shares
CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
142000000 shares
CY2017 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
141000000 shares
CY2017 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;text-indent:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Concentration of Credit Risk </font></div><div style="line-height:120%;text-align:justify;text-indent:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Financial instruments which potentially subject our company to concentrations of credit risk consist principally of cash and cash equivalents, and trade receivables. Our cash is primarily held with major banks and financial institutions throughout the world. We believe the risk of any potential loss on deposits held in these institutions is minimal. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Contracts with clients usually contain standard provisions allowing the client to curtail or terminate contracts for convenience. Upon such a termination, we are generally entitled to recover costs incurred, settlement expenses and profit on work completed prior to termination and demobilization cost. </font></div></div>
CY2017 us-gaap Revenue Recognition Percentage Of Completion Method
RevenueRecognitionPercentageOfCompletionMethod
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;text-indent:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Revenue Recognition</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Government Contracts</font></div><div style="line-height:120%;text-align:justify;text-indent:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain services provided to the United States ("U.S.") government are performed on cost-reimbursable contracts. Generally, these contracts may contain base fees (a fixed profit percentage applied to our estimates of costs to complete the work) and award fees (a variable profit percentage applied to definitized costs, which is subject to our customer's discretion and tied to specific performance measures defined in the contract, such as adherence to schedule, health and safety, quality of work, responsiveness, cost performance and business management). </font></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Revenues are recognized at the time services are performed, and such revenues include base fees, actual direct project costs incurred and an allocation of indirect costs. Indirect costs are applied using rates approved by our government customers. The general, administrative and overhead cost reimbursement rates are estimated periodically in accordance with government contract accounting regulations and may change based on actual costs incurred or based upon the volume of work performed. Award fees are recognized when such fees are probable and estimable. Estimates of the total fee to be earned are made based on contract provisions, prior experience with similar contracts or clients and management&#8217;s evaluation of the performance on such contracts. Revenues are reduced for our estimate of costs that either are in dispute with our customer or have been identified as potentially unallowable pursuant to the terms of the contract or the federal acquisition regulations.</font></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Engineering and Construction Contracts</font></div><div style="line-height:120%;text-align:justify;text-indent:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Contracts. </font><font style="font-family:inherit;font-size:10pt;">Revenues from contracts to provide construction, engineering, design or similar services are recognized using the percentage-of-completion method of accounting in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") 605 - Revenue Recognition. Depending on the type of job, progress is generally measured based upon costs incurred to date to total estimated costs at completion, man-hours expended to date to total man-hours estimated at completion or physical progress. Changes in total estimated contract costs and losses, if any, are provided for in the period they are determined. Claims and change orders that are in the process of negotiation with customers for additional work or changes in the scope of work are included in contract value when the value can be reliably estimated and the amount is probable of collection.</font></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Our work is performed under three general types of contracts: fixed-price contracts, cost-reimbursable plus a fee or mark-up contracts and "hybrid" contracts containing cost-reimbursable and fixed-price scopes. All contract types may be modified by cost escalation provisions or other risk sharing mechanisms and incentive and penalty provisions. During the term of a project, the contract or components of the contract may be renegotiated to include characteristics of a different contract type. When we negotiate any type of contract, we frequently are required to accomplish the scope of work and meet certain performance criteria within a specified time frame; otherwise, we could be assessed damages, which in some cases are agreed-upon liquidated damages. We include an estimate of liquidated damages in our estimates as a reduction of total contract value when it is probable that they will be assessed. Profit is recorded based upon the product of estimated contract profit-at-completion times the current percentage-complete for the contract.</font></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Fixed-price contracts, which include unit-rate contracts (essentially a fixed-price contract with the only variable being units of work performed), are for a fixed sum to cover all costs and any profit element for a defined scope of work. Fixed-price contracts entail significant risk to us because they require us to predetermine the work to be performed, the project execution schedule and the costs associated with the work. As a result, we may benefit or be penalized for cost variations from our original estimates. However, these contract prices may be adjusted for changes in scope of work, new or changing laws and regulations and other negotiated events.</font></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Cost-reimbursable contracts include contracts where the price is variable based upon our actual costs incurred for time and materials. Profit on cost-reimbursable contracts may be a fixed amount, a mark-up applied to costs incurred or a combination of the two. Cost-reimbursable contracts are generally less risky than fixed-price contracts because the owner/customer retains many of the project risks.</font></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Unapproved Change Orders and Claims.</font><font style="font-family:inherit;font-size:10pt;"> Revenues and gross profit on contracts can be significantly affected by change orders and claims that may not be approved by the customer until the later stages of a contract or subsequent to the date a project is completed. If it is not probable that the costs will be recovered through a change in contract price, the costs attributable to unapproved change orders and claims are treated as contract costs without incremental revenue. For certain contracts where it is probable that the costs will be recovered through a change order or resolution of a claim, total estimated contract revenue is increased by the lesser of the amounts management expects to recover or the costs expected to be incurred.</font></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">When estimating the amount of total gross profit or loss on a contract, we include unapproved change orders or claims to our clients as adjustments to revenues. We include claims to vendors, subcontractors and others as adjustments to total estimated costs. If we have a reasonable legal basis and collectability of amounts are probable, claims against vendors, subcontractors and others are recorded up to the extent of the lesser of the amounts management expects to recover or to costs incurred and include no profit until such time as they are finalized and approved. See Note </font><font style="font-family:inherit;font-size:10pt;">7</font><font style="font-family:inherit;font-size:10pt;"> to our consolidated financial statements for our discussion on unapproved change orders and claims.</font></div></div>
CY2017 us-gaap Revenue Recognition Sales Of Services
RevenueRecognitionSalesOfServices
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Services Contracts</font></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Revenues for our services contracts are recorded as the services are rendered and the amounts are deemed realized or realizable and earned. Revenues are recognized when persuasive evidence of a customer arrangement exists, delivery has occurred or services have been rendered, the price to the customer is fixed and determinable, and collection of revenues is reasonably assured. Revenues associated with incentive fees for these contracts are recognized when earned. </font></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></div>
CY2017 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;text-indent:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;text-align:justify;text-indent:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of our consolidated financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the 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 the following: </font></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">project revenues, costs and profits on engineering and construction contracts, including recognition of estimated losses on uncompleted contracts </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">project revenues, award fees, costs and profits on government services contracts</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">provisions for uncollectible receivables and client claims and recoveries of costs from subcontractors, vendors and others</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">provisions for income taxes and related valuation allowances and tax uncertainties</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">recoverability of goodwill</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">recoverability of other intangibles and long-lived assets and related estimated lives</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">recoverability of equity method and cost method investments</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">valuation of pension obligations and pension assets</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">accruals for estimated liabilities, including litigation accruals</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">consolidation of VIEs</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">valuation of share-based compensation</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">valuation of assets and liabilities acquired in business combinations</font></div></td></tr></table><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In accordance with normal practice in the construction industry, we include in current assets and current liabilities 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 consolidated financial statements.</font></div></div>

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