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EARNINGS PER SHARE
 6 Months Ended
Jun. 30, 2013
Earnings Per Share [Abstract]  
EARNINGS PER SHARE

NOTE 8—EARNINGS PER SHARE

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

 

     Three Months Ended
June 30,		      Six Months Ended
June 30,		  
     2013     2012      2013     2012  
    

(Unaudited)

(In thousands)

  

Income (loss) from continuing operations less noncontrolling interests

    $ (149,423 )    $ 52,739       $ (128,870 )    $ 112,000   

Income from discontinued operations, net of tax

      —          —           —          3,497   
  

 

 

    

 

 

     

 

 

    

 

 

  

Net income (loss) attributable to McDermott International, Inc.

    $ (149,423 )    $ 52,739       $ (128,870 )    $ 115,497   
  

 

 

    

 

 

     

 

 

    

 

 

  

Weighted average common shares (basic)

    236,199,438      235,681,213       236,070,311      235,444,733   

Effect of dilutive securities:

          

Stock options, restricted stock and restricted stock units(1)

      —          1,779,552         —          1,951,964   
  

 

 

    

 

 

     

 

 

    

 

 

  

Adjusted weighted average common shares and assumed exercises of stock options and vesting of stock awards (diluted)

    236,199,438      237,460,765       236,070,311      237,396,697   
  

 

 

    

 

 

     

 

 

    

 

 

  

Basic earnings (loss) per share

          

Income (loss) from continuing operations less noncontrolling interests

      (0.63 )      0.22         (0.55 )      0.48   

Income from discontinued operations, net of tax

      —          —           —          0.01   

Net income (loss) attributable to McDermott International, Inc.

      (0.63 )      0.22         (0.55 )      0.49   

Diluted earnings (loss) per share:

          

Income (loss) from continuing operations less noncontrolling interests

      (0.63 )      0.22         (0.55 )      0.47   

Income from discontinued operations, net of tax

      —          —           —          0.01   

Net income (loss) attributable to McDermott International, Inc.

      (0.63 )      0.22         (0.55 )      0.49   

 

(1) Approximately 2.9 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 and six months ended June 30, 2013. Approximately 1.8 million and 3.6 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 and six months ended June 30, 2012, respectively.