QUARTERLY FINANCIAL DATA (UNAUDITED)

12 Months Ended

Dec. 31, 2015

Quarterly Financial Information Disclosure [Abstract]

QUARTERLY FINANCIAL DATA (UNAUDITED)

NOTE 20—QUARTERLY FINANCIAL DATA (UNAUDITED)

The following tables set forth selected unaudited quarterly financial information for the quarterly periods in 2015 and 2014:

	For the Quarter Ended
	March 31			June 30		September 30		December 31
2015	(In thousands, except per share data amounts)
Revenues	$	550,463		$	1,046,537	$	805,857	$	667,418
Operating income		6,565			41,632		29,460		13,539
Net income (loss)		(12,048	)		13,690		7,534		(18,015	)
Net income attributable to non-controlling interest		2,459			2,164		3,868		653
Net income (loss) attributable to McDermott International, Inc.		(14,507	)		11,526		3,666		(18,668	)
Income (loss) per share
Basic		(0.06	)		0.05		0.02		(0.08	)
Diluted		(0.06	)		0.04		0.01		(0.08	)

(1) Operating income for the quarter ended March 31, 2015 benefited from positive changes in estimate primarily related to cost savings.

(2) Operating income for the quarter ended June 30, 2015 was influenced by improved productivity and increased activity in the ASA and MEA segments partially offset by an increase in restructuring expense.  

(3) Operating income for the quarter ended September 30, 2015 was influenced by improved productivity in our MEA segment.  

(4) Operating income for the quarter ended December 31, 2015 was influenced by improved productivity in our MEA segment offset by a $26 million fourth quarter non-cash mark-to-market actuarial loss on our pension benefit plans.  

	For the Quarter Ended
	March 31			June 30			September 30			December 31
2014	(In thousands, except per share data amounts)
Revenues	$	603,811		$	476,083		$	414,595		$	806,400
Operating income (loss)		(38,209	)		31,525			(10,711	)		25,949
Net income (loss)		(45,984	)		(5,698	)		(25,946	)		12,234
Net income attributable to non-controlling interest		536			1,699			4,306			4,059
Net income (loss) attributable to McDermott International, Inc.		(46,520	)		(7,397	)		(30,252	)		8,175
Income (loss) per share
Basic		(0.20	)		(0.03	)		(0.13	)		0.03
Diluted		(0.20	)		(0.03	)		(0.13	)		0.03

(1) Operating income for the quarter ended March 31, 2014 was influenced by negative changes in estimates on projects mainly in our MEA segment.

(2) The quarter ended June 30, 2014 was influenced by a gain on the sale of assets, mainly of our Harbor Island facility of approximately $25 million and some of Morgan City facility assets.

(3) Operating income for the quarter ended December 31, 2014 was influenced by positive changes in estimates and recognition of approved change orders.