EARNINGS PER SHARE (Tables)

3 Months Ended

Mar. 31, 2013

Computation of Basic and Diluted Earnings Per Share

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

	Three Months Ended March 31,
	2013		2012
	(Unaudited)
	(In thousands, except share and per share amounts)
Income from continuing operations less noncontrolling interests	$	20,553	$	59,261
Income from discontinued operations, net of tax		—		3,497
Net income attributable to McDermott International, Inc.	$	20,553	$	62,758
Weighted average common shares (basic)		235,941,185		235,208,252
Effect of dilutive securities:
Stock options, restricted stock and restricted stock units(1)		3,258,696		2,124,375
Adjusted weighted average common shares and assumed exercises of stock options and vesting of stock awards (diluted)		239,199,881		237,332,627
Basic earnings per share:
Income from continuing operations less noncontrolling interests		0.09		0.25
Income from discontinued operations, net of tax		—		0.01
Net income attributable to McDermott International, Inc.		0.09		0.27
Diluted earnings per share:
Income from continuing operations less noncontrolling interests		0.09		0.25
Income from discontinued operations, net of tax		—		0.01
Net income attributable to McDermott International, Inc.		0.09		0.26

(1) Approximately 2.9 million and 1.8 million shares underlying outstanding stock-based awards were excluded from the computation of diluted earnings per share because they were antidilutive for the three months ended March 31, 2013 and 2012, respectively.