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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Revenues $ 849,801 $ 627,144 $ 1,749,041 $ 1,132,026
Costs and Expenses:        
Cost of operations 703,805 475,839 1,451,030 855,045
Gain on asset disposals and impairments - net (71) (226) (296) (2,306)
Selling, general and administrative expenses 60,412 52,674 115,781 103,812
Total costs and expenses 764,146 528,287 1,566,515 956,551
Equity in Income (Loss) of Unconsolidated Affiliates (1,876) (715) 1,551 (4,146)
Operating Income 83,779 98,142 184,077 171,329
Other Income (Expense):        
Interest income 292 335 741 825
Interest expense (263) (2,117) (263) (2,279)
Other income (expense) - net 1,255 722 (4,148) (728)
Total other income (expense) 1,284 (1,060) (3,670) (2,182)
Income from continuing operations before provision for income taxes and noncontrolling interests 85,063 97,082 180,407 169,147
Provision for Income Taxes 17,237 12,905 39,816 25,144
Income from continuing operations before noncontrolling interests 67,826 84,177 140,591 144,003
Loss on disposal of discontinued operations   (66,218)   (90,420)
Income from discontinued operations, net of tax 3,610 63,561 5,272 96,142
Total Income (loss) from discontinued operations, net of tax 3,610 (2,657) 5,272 5,722
Net Income 71,436 81,520 145,863 149,725
Less: Net Income Attributable to Noncontrolling Interests 4,108 5,486 8,115 13,750
Net income attributable to McDermott International, Inc. $ 67,328 $ 76,034 $ 137,748 $ 135,975
Basic:        
Income from continuing operations, less noncontrolling interests $ 0.27 $ 0.34 $ 0.57 $ 0.56
Income (loss) from discontinued operations, net of tax $ 0.02 $ (0.01) $ 0.02 $ 0.02
Net income attributable to McDermott International, Inc. $ 0.29 $ 0.33 $ 0.59 $ 0.59
Diluted:        
Income from continuing operations, less noncontrolling interests $ 0.27 $ 0.34 $ 0.56 $ 0.56
Income (loss) from discontinued operations, net of tax $ 0.02 $ (0.01) $ 0.02 $ 0.02
Net income attributable to McDermott International, Inc. $ 0.28 $ 0.32 $ 0.58 $ 0.58
Shares used in the computation of earnings per share (Note 8):        
Basic 234,573,031 231,847,145 234,207,053 231,335,723
Diluted 237,544,674 234,423,546 237,145,126 234,588,291