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EARNINGS PER SHARE
 9 Months Ended
Sep. 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
September 30,		      Nine Months Ended
September 30,		  
     2013     2012      2013     2012  
    

(Unaudited)

(In thousands)

  

Income (loss) from continuing operations less noncontrolling interests

    $ (64,070 )    $ 50,612       $ (192,940 )    $ 162,612   

Income from discontinued operations, net of tax

      —          —           —          3,497   
  

 

 

    

 

 

     

 

 

    

 

 

  

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

    $ (64,070 )    $ 50,612       $ (192,940 )    $ 166,109   
  

 

 

    

 

 

     

 

 

    

 

 

  

Weighted average common shares (basic)

      236,257,920        235,817,203         236,132,847        235,568,889   

Effect of dilutive securities:

          

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

      —          2,049,797         —          1,984,574   
  

 

 

    

 

 

     

 

 

    

 

 

  

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

      236,257,920        237,867,000         236,132,847        237,553,463   
  

 

 

    

 

 

     

 

 

    

 

 

  

Basic earnings (loss) per share

          

Income (loss) from continuing operations less noncontrolling interests

      (0.27 )      0.21         (0.82 )      0.69   

Income from discontinued operations, net of tax

      —          —           —          0.01   

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

      (0.27 )      0.21         (0.82 )      0.70   

Diluted earnings (loss) per share:

          

Income (loss) from continuing operations less noncontrolling interests

      (0.27 )      0.21         (0.82 )      0.68   

Income from discontinued operations, net of tax

      —          —           —          0.01   

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

      (0.27 )      0.21         (0.82 )      0.69   

 

(1) Approximately 3.1 million and 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 nine months ended September 30, 2013. Approximately 1.7 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 and nine months ended September 30, 2012, respectively.