KBR’s Liabilities As of September 30, 2017, KBR, Inc. (KBR) had a total debt of $2.7 billion against $3.4 billion at the end of fiscal 2016. Out of the $2.7 billion, nearly $1.2 billion is currently payable. KBR’s current liabilities are primarily accounts payable and BIE (Billings In Excess of costs and estimated earnings on uncompleted contracts). Accounts PayableFactors affecting accounts payable include timing of receipts of invoices from vendors and subcontractors apart from payments on these invoices. The company had accounts payable of $535 million in 2016 compared to $438 million in 2015. The accounts payable in 2016 was more primarily due to a U.S. government project and other projects from Wyle and KTS acquired within GS business segment as well as the timing of invoicing and payments within the normal course of business.Billings in excess of costs and estimated earnings on uncompleted contracts (or BIE)Billing practices are governed by the contract terms of each project based upon costs incurred, achievement of milestones or pre-agreed schedules. The company had BIE of $552 million in 2016 compared to $509 million in 2015.BIE is associated with KBR’s fixed price projects, which is affected by the timing of achievement of billing of milestones and payments received from customers in advance of incurring project costs. The increase in BIE is due primarily to gains associated with E business segments two EPC ammonia projects in the U.S. The rise was partly offset by declines from various projects in the T business segment and a power project in the Non-strategic business unit.Current RatioLiquidity and leverage ratios measure a company’s ability to meet short-term obligations and longer-term debts. KBR has a current ratio of 1.31 compared to industry (XLI) average of 1.62. Jacobs Engineering (JEC) has a current ratio of 1.56 while Fluor (FLR) has 1.47. Chicago Bridge & Iron (CBI) has a current ratio of 0.56, implying difficulty in meeting debt obligations. CBI’s interest expenses have been increasing since 2014.