EARNINGS PER SHARE

9 Months Ended

Sep. 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 September 30,						Nine Months Ended September 30,
	2014			2013			2014			2013
	(In thousands, except share and per share amounts)
Net loss attributable to McDermott International, Inc.	$	(33,684	)	$	(64,070	)	$	(94,467	)	$	(192,940	)
Weighted average common shares (basic)		237,429,394			236,257,920			237,262,044			236,132,847
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)		237,429,394			236,257,920			237,262,044			236,132,847
Basic loss per share
Net loss attributable to McDermott International Inc.		(0.14	)		(0.27	)		(0.40	)		(0.82	)
Diluted earnings loss per share:
Net loss attributable to McDermott International, Inc.		(0.14	)		(0.27	)		(0.40	)		(0.82	)

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 nine months ended September 30, 2014, respectively. 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 anti-dilutive for the three months and nine months ended September 30, 2013.

Potential dilutive common shares for the settlement of the common stock purchase contracts totaling 40.9 million and 27.3 million shares were considered in the calculation of diluted weighted-average shares for three months and nine months ended September 30, 2014, respectively; however, due to our net loss position, they have not been reflected above because they would be anti-dilutive.