EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2014

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,
	2014			2013			2014			2013
	(In thousands, except share and per share amounts)
Net loss attributable to McDermott International, Inc.	$	(10,830	)	$	(149,423	)	$	(60,783	)	$	(128,870	)
Weighted average common shares (basic)		237,395,580			236,199,438			237,178,369			236,070,311
Effect of dilutive securities:
Stock options, restricted stock and restricted stock units		—			—			—			—
Adjusted weighted average common shares and assumed exercises of stock options and vesting of stock awards (diluted)		237,395,580			236,199,438			237,178,369			236,070,311
Basic loss per share
Net loss attributable to McDermott International, Inc.		(0.05	)		(0.63	)		(0.26	)		(0.55	)
Diluted earnings loss per share:
Net loss attributable to McDermott International, Inc.		(0.05	)		(0.63	)		(0.26	)		(0.55	)

Approximately 2.9 million and 3.0 million shares underlying outstanding stock-based awards were excluded from the computation of diluted earnings per share because they were anti-dilutive for the three months and six months ended June 30, 2014, respectively. Approximately 2.9 million shares underlying outstanding stock-based awards were excluded from the computation of diluted earnings per share because they were anti-dilutive for the three months and six months ended June 30, 2013.

Potential dilutive common shares for the settlement of the common stock purchase contracts totaling 40.9 million and 20.4 million shares were considered in the calculation of diluted weighted-average shares for three months and six months ended June 30, 2014, respectively; however, due to our net loss position, they have not been reflected above because they would be anti-dilutive.