EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2015

Earnings Per Share [Abstract]

EARNINGS PER SHARE

NOTE 12—EARNINGS PER SHARE

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

	Three Months Ended March 31,
	2015			2014
	(In thousands, except share and per share amounts)
Net loss attributable to McDermott International, Inc.	$	(14,507	)	$	(46,520	)
Weighted average common shares (basic)		237,504,719			236,961,158
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)		237,504,719			236,961,158
Basic loss per share
Net loss attributable to McDermott International, Inc.	$	(0.06	)	$	(0.20	)
Diluted loss per share:
Net loss attributable to McDermott International, Inc.	$	(0.06	)	$	(0.20	)

Approximately 3.3 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 ended March 31, 2015 and March 31, 2014, respectively.

Potential dilutive common shares for the settlement of the common stock purchase contracts totaling 40.9 million shares were considered in the calculation of diluted weighted-average shares for the three months ended March 31, 2015; however, due to our net loss position, they have not been reflected above because they would be anti-dilutive.