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Kbr, Inc. (KBR) SEC Filing 10-K Annual Report for the fiscal year ending Saturday, December 31, 2022

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CIK: 1783879 Ticker: KBR

EXHIBIT 99.1

KBR Announces Fourth Quarter and Fiscal 2022 Financial Results; Issues Fiscal 2023 Guidance

Delivered Strong Q4 and Fiscal 2022 Results
Earnings Momentum Drives Fiscal 2023 Guidance Outlook
Board Approves 12.5% Increase to Regular Dividend

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HOUSTON, TX - February 16, 2023
- KBR, Inc. (NYSE: KBR) today announced its fourth quarter and fiscal 2022 financial results and issued its fiscal 2023 financial guidance.

“We had an excellent 2022 and finished the year strong. Our incredible people do things that matter every single day, and I wish to thank them for all that they do. Once again they delivered outstanding results across all key metrics. Our safety performance was another highlight achieving Zero Harm 91% of all days throughout 2022,” said Stuart Bradie, KBR President and CEO.

“We saw organic revenue growth in line with our targets, but the real story was quality of earnings, outstanding operational performance leading to enhanced margins and cash conversion above expectations. We have been carbon neutral since 2019 and continue to make good progress on our 2030 operational net-zero carbon target. We also strengthened unique synergies across our business that enable us to seamlessly deploy our deep domain expertise and differentiated innovations and capabilities in key areas of global importance such as national security, energy security and transition, and space. As a result, we are well positioned in strategic end markets with favorable tailwinds. In 2022, we had annual bookings and options of $8.2 billion and move into 2023 with 70%+ of work already under contract. Sustainable Technology Solutions is significantly ahead of pace, and this is expected to continue into next year and beyond.

Looking ahead, we believe we are primed to continue driving growth and stakeholder value, with ever-growing confidence in our 2025 targets, and we are pleased to announce our fiscal 2023 earnings and cash guidance.”

New Business Awards
Backlog and options for the quarter totaled $19.8 billion. Delivered 1.2x trailing-twelve-months book-to-bill1 as of December 31, 2022, including $1.5 billion of awards and options in the quarter, as follows:
•Won two contracts totaling over $120 million to support strategic space system acquisitions through advanced analytics, modeling, estimation, research, integrated program management, acquisition technical assistance, architecture trade studies, data science, and data management.
•Granted a $157 million task order to support capabilities assessment and enhancements for the U.S. Army's Utility Helicopter 60 Variant fleet.
•Received a $69 million task order to deliver critical airborne manned reconnaissance aircraft systems for the Naval Surface Warfare Center Crane and the Naval Air Systems Command.
•Partnered with Deepak Fertilizers and Petrochemicals Corporation Ltd. to help lower emissions and increase production capacity at three plants.
•Engaged to provide front-end engineering design of the baseload power hub for an innovative energy storage project off the coast of the Netherlands.
•Proprietary Vinyl Acetate Monomer technology, offered in alliance with Showa Denko K.K., selected for a 100,00 ton per annum production facility in India.
•In addition, the Court of Federal Claims upheld the Global Household Goods contract award to our joint venture, HomeSafe Alliance, by U.S. Transportation Command with a contract ceiling value of $20 billion
1 Consistent with our practice, book-to-bill excludes long-term UK PFIs 1
The following information was filed by Kbr, Inc. (KBR) on Thursday, February 16, 2023 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Kbr, Inc.'s 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Audit Information
Cover Page
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income (Loss)
Consolidated Statements Of Operations
Consolidated Statements Of Shareholders' Equity
Consolidated Statements Of Shareholders' Equity (Parenthetical)
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss (Accumulated Other Comprehensive Income (Loss)) (Details)
Accumulated Other Comprehensive Loss (Reclassification Out Of Aoci) (Details)
Accumulated Other Comprehensive Loss (Tables)
Acquisitions
Acquisitions (Centauri Platform Holdings, Llc) (Details)
Acquisitions (Fair Value Of The Assets Acquired And Liabilities) (Details)
Acquisitions (Frazer-Nash Consultancy Limited) (Details)
Acquisitions (Harmonic Limited) (Details)
Acquisitions (Pro Forma Information) (Details)
Acquisitions (Schedule Of Intangible Assets Acquired) (Details)
Acquisitions (Scientific Management Associates (Operations) Pty Ltd) (Details)
Acquisitions (Tables)
Acquisitions (Vima Group) (Details)
Business Segment Information
Business Segment Information (Narrative) (Details)
Business Segment Information (Schedule Of Balance Sheet Information By Reportable Segment) (Details)
Business Segment Information (Schedule Of Operations By Reportable Segment) (Details)
Business Segment Information (Schedule Of Selected Geographic Information) (Details)
Business Segment Information (Tables)
Cash And Cash Equivalents
Cash And Cash Equivalents (Details)
Cash And Cash Equivalents (Tables)
Claims And Accounts Receivable
Claims And Accounts Receivable (Details)
Commitments And Contingencies
Commitments And Contingencies (Details)
Debt And Other Credit Facilities
Debt And Other Credit Facilities (Consolidated Leverage Ratio) (Details)
Debt And Other Credit Facilities (Convertible Senior Notes) (Details)
Debt And Other Credit Facilities (Letters Of Credit, Surety Bonds And Guarantees) (Details)
Debt And Other Credit Facilities (Schedule Of Outstanding Debt) (Details)
Debt And Other Credit Facilities (Senior Credit Facility) (Details)
Debt And Other Credit Facilities (Senior Notes) (Details)
Debt And Other Credit Facilities (Tables)
Equity Method Investments And Variable Interest Entities
Equity Method Investments And Variable Interest Entities (Balance Sheet Amounts Related To Services Provided) (Details)
Equity Method Investments And Variable Interest Entities (Consolidated Summarized Financial Information - Balance Sheet) (Details)
Equity Method Investments And Variable Interest Entities (Consolidated Summarized Financial Information - Statements Of Operations) (Details)
Equity Method Investments And Variable Interest Entities (Narrative) (Details)
Equity Method Investments And Variable Interest Entities (Schedule Of Equity In Earnings Of Unconsolidated Affiliates) (Details)
Equity Method Investments And Variable Interest Entities (Schedule Of Variable Interest Entities) (Details)
Equity Method Investments And Variable Interest Entities (Tables)
Fair Value Of Financial Instruments And Risk Management
Fair Value Of Financial Instruments And Risk Management (Carrying Value And Fair Value) (Details)
Fair Value Of Financial Instruments And Risk Management (Credit Losses) (Details)
Fair Value Of Financial Instruments And Risk Management (Foreign Currency Risk) (Details)
Fair Value Of Financial Instruments And Risk Management (Interest Rate Risk) (Details)
Fair Value Of Financial Instruments And Risk Management (Other Investments) (Details)
Fair Value Of Financial Instruments And Risk Management (Sale Of Receivables - Third-Party Financial Institutions) (Details)
Fair Value Of Financial Instruments And Risk Management (Sale Of Receivables) (Details)
Fair Value Of Financial Instruments And Risk Management (Summary Of Changes In Fair Value Of Balance Sheet Hedges) (Details)
Fair Value Of Financial Instruments And Risk Management (Tables)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Amortization Expense Of Intangible Assets) (Details)
Goodwill And Intangible Assets (Cost And Accumulated Amortization Of Intangible Assets) (Details)
Goodwill And Intangible Assets (Expected Amortization Expense Of Intangibles) (Details)
Goodwill And Intangible Assets (Narrative) (Details)
Goodwill And Intangible Assets (Summary Of Goodwill By Reportable Segments) (Details)
Goodwill And Intangible Assets (Tables)
Income (Loss) Per Share And Certain Related Information
Income (Loss) Per Share And Certain Related Information (Narrative) (Details)
Income (Loss) Per Share And Certain Related Information (Schedule Of Basic And Diluted Net Income (Loss) Per Share Calculation) (Details)
Income (Loss) Per Share And Certain Related Information (Shares Of Common Stock) (Details)
Income (Loss) Per Share And Certain Related Information (Shares Of Treasury Stock) (Details)
Income (Loss) Per Share And Certain Related Information (Tables)
Income Taxes
Income Taxes (Components Of Deferred Tax Assets And Liabilities And Related Valuation Allowances) (Details)
Income Taxes (Components Of Foreign Income Tax Provision) (Details)
Income Taxes (Components Of Income (Loss) Before Income Tax) (Details)
Income Taxes (Components Of Provision For Income Taxes) (Details)
Income Taxes (Loss And Credit Carryforwards) (Details)
Income Taxes (Narrative) (Details)
Income Taxes (Reconciliation Of Unrecognized Tax Benefits) (Details)
Income Taxes (Reconciliations) (Details)
Income Taxes (Summary Of Taxes On Financial Statements) (Details)
Income Taxes (Summary Of Valuation Allowance) (Details)
Income Taxes (Tables)
Leases
Leases (Narrative) (Details)
Leases (Schedule Of Lease Maturity) (Details)
Leases (Schedule Of Leasing Activity) (Details)
Leases (Tables)
Property, Plant And Equipment
Property, Plant And Equipment (Details)
Property, Plant And Equipment (Tables)
Recent Accounting Pronouncements
Restructuring Charges And Asset Impairments
Restructuring Charges And Asset Impairments (Details)
Restructuring Charges And Asset Impairments (Narrative) (Details)
Restructuring Charges And Asset Impairments (Tables)
Retirement Benefits
Retirement Benefits (Components Of Net Periodic Benefit Cost) (Details)
Retirement Benefits (Narrative) (Details)
Retirement Benefits (Schedule Of Accumulated Other Comprehensive Loss) (Details)
Retirement Benefits (Schedule Of Amounts Recognized On Consolidated Balance Sheet) (Details)
Retirement Benefits (Schedule Of Changes In Projected Benefit Obligations) (Details)
Retirement Benefits (Schedule Of Expected Benefit Payments) (Details)
Retirement Benefits (Schedule Of Fair Value Measurement Of Plan Assets Using Significant Unobservable Inputs) (Details)
Retirement Benefits (Schedule Of Pension Plan Assets Measured At Fair Value) (Details)
Retirement Benefits (Schedule Of Target Plan Allocation) (Details)
Retirement Benefits (Schedule Of Weighted-Average Assumptions) (Details)
Retirement Benefits (Tables)
Revenue
Revenue (Accounts Receivable) (Details)
Revenue (Narrative) (Details)
Revenue (Performance Obligation) (Details)
Revenue (Revenue By Contract Type) (Details)
Revenue (Revenue By Geographic Destination) (Details)
Revenue (Tables)
Share Repurchases
Share Repurchases (Details)
Share Repurchases (Narrative) (Details)
Share Repurchases (Tables)
Share-Based Compensation And Incentive Plans
Share-Based Compensation And Incentive Plans (Narrative) (Details)
Share-Based Compensation And Incentive Plans (Summary Of Stock Option Activity) (Details)
Share-Based Compensation And Incentive Plans (Summary Of Vested And Unvested Rsus) (Details)
Share-Based Compensation And Incentive Plans (Tables)
Significant Accounting Policies
Significant Accounting Policies (Balance Sheet) (Details)
Significant Accounting Policies (Cash Flows) (Details)
Significant Accounting Policies (Components Of Other Current Liabilities) (Details)
Significant Accounting Policies (Income Statement) (Details)
Significant Accounting Policies (Narrative) (Details)
Significant Accounting Policies (Policies)
Significant Accounting Policies (Schedule Of Other Current Assets) (Details)
Significant Accounting Policies (Schedule Of Revenue And Receivables From Major Customers) (Details)
Significant Accounting Policies (Tables)
U.S. Government Matters
U.S. Government Matters (Narrative) (Details)
Unapproved Change Orders And Claims Against Clients And Estimated Recoveries Of Claims Against Suppliers And Subcontractors
Unapproved Change Orders And Claims Against Clients And Estimated Recoveries Of Claims Against Suppliers And Subcontractors (Narrative) (Details)
Unapproved Change Orders And Claims Against Clients And Estimated Recoveries Of Claims Against Suppliers And Subcontractors (Schedule Of Unapproved Change Orders And Claims) (Details)
Unapproved Change Orders And Claims Against Clients And Estimated Recoveries Of Claims Against Suppliers And Subcontractors (Tables)
Ticker: KBR
CIK: 1357615
Form Type: 10-K Annual Report
Accession Number: 0001357615-23-000030
Submitted to the SEC: Fri Feb 17 2023 5:14:54 PM EST
Accepted by the SEC: Fri Feb 17 2023
Period: Saturday, December 31, 2022
Industry: Heavy Construction Other Than Bldg Const Contractors

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