EARNINGS PER SHARE (Tables)

12 Months Ended

Dec. 31, 2011

Computation of Basic and Diluted Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share:

	Year Ended December 31,
	2011			2010			2009
	(In thousands, except shares and per share amounts)
Basic:
Income from continuing operations less noncontrolling interest	$	151,542		$	236,566		$	206,158
Income (loss) from discontinued operations, net of tax		(12,812	)		(34,900	)		180,898
Net income attributable to McDermott International, Inc.	$	138,730		$	201,666		$	387,056
Weighted average common shares		234,598,901			232,173,362			229,471,020
Basic earnings per common share:
Income from continuing operations less noncontrolling interest		0.65			1.02			0.90
Income (loss) from discontinued operations, net of tax		(0.05	)		(0.15	)		0.79
Net income attributable to McDermott International, Inc.		0.59			0.87			1.69
Diluted:
Income from continuing operations less noncontrolling interest	$	151,542		$	236,566		$	206,158
Income (loss) from discontinued operations, net of tax		(12,812	)		(34,900	)		180,898
Net income attributable to McDermott International, Inc.	$	138,730		$	201,666		$	387,056
Weighted average common shares (basic)		234,598,901			232,173,362			229,471,020
Effect of dilutive securities:
Stock options, restricted stock and performance shares		2,441,606			3,448,667			4,155,856
Adjusted weighted average common shares		237,040,507			235,622,029			233,626,876
Diluted earnings per common share:
Income from continuing operations less noncontrolling interest		0.64			1.00			0.88
Income (loss) from discontinued operations, net of tax		(0.05	)		(0.15	)		0.78
Net income attributable to McDermott International, Inc.		0.59			0.85			1.66