JOINT VENTURES (TABLES)

6 Months Ended

Jul. 04, 2014

Consolidated Joint Ventures [Abstract]

Schedule of consolidated joint ventures [Table Text Block]

			July 4,		January 3,
(In millions)			2014		2014
Cash and cash equivalents			$	89	$	89
Net accounts receivable				215		200
Other current assets				2		3
Noncurrent assets				148		143
		Total assets	$	454	$	435

Accounts and subcontractors payable			$	108	$	94
Billings in excess of costs and accrued earnings on contracts				5		15
Accrued expenses and other				34		40
Noncurrent liabilities				14		12
	Total liabilities			161		161

Total URS equity				148		128
Noncontrolling interests				145		146
	Total owners’ equity			293		274
		Total liabilities and owners’ equity	$	454	$	435

Unconsolidated Joint Ventures [Abstract]

Schedule of unconsolidated joint ventures [Table Text Block]

	Unconsolidated
(In millions)	VIEs
July 4, 2014
Current assets	$	676
Noncurrent assets	$	31
Current liabilities	$	449
Noncurrent liabilities	$	30

January 3, 2014
Current assets	$	616
Noncurrent assets	$	37
Current liabilities	$	433
Noncurrent liabilities	$	7

Three months ended July 4, 2014⁽¹⁾
Revenues	$	522
Cost of revenues	$	(469)
Income from continuing operations before tax	$	53
Net income	$	49

Three months ended June 28, 2013⁽¹⁾
Revenues	$	566
Cost of revenues	$	(507)
Income from continuing operations before tax	$	59
Net income	$	54

Six months ended July 4, 2014⁽¹⁾
Revenues	$	1,046
Cost of revenues	$	(941)
Income from continuing operations before tax	$	105
Net income	$	96

Six months ended June 28, 2013⁽¹⁾
Revenues	$	1,112
Cost of revenues	$	(994)
Income from continuing operations before tax	$	118
Net income	$	110

Income from unconsolidated U.S. joint ventures is generally not taxable in most tax jurisdictions in the U.S. The tax expenses on our other unconsolidated joint ventures are primarily related to foreign taxes.

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

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