USE OF ESTIMATES	3 Months Ended
Mar. 31, 2016
Accounting Policies [Abstract]
USE OF ESTIMATES	NOTE 3—USE OF ESTIMATES We use estimates and assumptions to prepare our financial statements in conformity with U.S. GAAP. Those estimates and assumptions affect the amounts we report in our Consolidated Financial Statements and accompanying Notes. Our actual results could differ from those estimates, and variances could materially affect our financial condition and results of operations in future periods. Changes in project estimates generally exclude change orders and changes in scope, but may include, without limitation, changes in cost recovery estimates, unexpected changes in weather conditions, changes in productivity, unidentified required vessel repairs, customer and vendor delays and other costs. We generally expect to experience a reasonable amount of unanticipated events, and some of those events can result in significant cost increases above cost amounts we previously estimated. As of March 31, 2016, we have provided for our estimated costs to complete on all of our ongoing contracts. However, it is possible that current estimates could change due to unforeseen events, which could result in adjustments to overall contract costs. Variations from estimated contract performance could result in material adjustments to operating results. For all contracts, if a current estimate of total contract cost indicates a loss, the projected loss is recognized in full when determined. The following is a discussion of our most significant changes in estimates that impacted operating income for the three months ended March 31, 2016 and 2015. Three months ended March 31, 2016 Operating income for the three months ended March 31, 2016 was positively impacted by net favorable changes in cost estimates totaling approximately $40 million across all segments. Americas, Europe and Africa Segment (“AEA”)—This segment was positively impacted by net favorable changes in estimates aggregating approximately $16 million, primarily attributable to successful execution and close-out improvements on two significant projects, PB Litoral and Exxon Julia Subsea Tieback, in the first quarter of 2016. Included in the change was a reversal of a $7 million provision for liquidated damages due to an agreed extension of the PB Litoral project completion date. Miscellaneous other projects also experienced net positive changes in estimate, which were individually not material. Middle East Segment (“MEA”)—This segment was positively impacted by net favorable changes in estimates aggregating approximately $7 million, primarily due to productivity improvements and associated cost savings related to the DB 27 vessel on a Saudi Aramco project and cost savings on miscellaneous other projects. Asia Segment (“ASA”)—This segment had net favorable changes in estimates aggregating approximately $17 million driven by improved productivity and project execution cost savings on the Inpex Ichthys project, agreement on outstanding change orders on the Brunei Shell Petroleum pipeline replacement project and agreement on outstanding change orders and cost savings on miscellaneous other projects. Three months ended March 31, 2015 Operating income for the three months ended March 31, 2015 was positively impacted by net favorable changes in cost estimates totaling approximately $22 million across all segments. AEA—This segment was positively impacted by net favorable changes in estimates aggregating approximately $7 million, primarily due to $4 million in reduced cost estimates attributable to a revised demobilization plan for one of our vessels, the North Ocean 105 (the “NO 105”), which is currently working on a subsea project in Brazil. MEA—This segment was positively impacted by net favorable changes in estimates aggregating approximately $9 million. Two EPCI projects in Saudi Arabia were positively impacted by $7 million of changes in revenue recovery and cost savings based on constructive discussions with the customer on design optimization and by $6 million for improvement in revenue recovery estimates and due to the favorable outcome of our discussions with the customer on compensation for vessel downtime due to weather and standby delays. These favorable changes were partially offset by the $5 million negative impact on an EPCI project in Saudi Arabia, primarily due to changes in cost estimates as a result of a change in marine execution plans. ASA—This segment was positively impacted by net favorable changes in estimates aggregating approximately $6 million, driven by multiple projects, none of the individual results of which were material.

NOTE 3—USE OF ESTIMATES

We use estimates and assumptions to prepare our financial statements in conformity with U.S. GAAP. Those estimates and assumptions affect the amounts we report in our Consolidated Financial Statements and accompanying Notes. Our actual results could differ from those estimates, and variances could materially affect our financial condition and results of operations in future periods. Changes in project estimates generally exclude change orders and changes in scope, but may include, without limitation, changes in cost recovery estimates, unexpected changes in weather conditions, changes in productivity, unidentified required vessel repairs, customer and vendor delays and other costs. We generally expect to experience a reasonable amount of unanticipated events, and some of those events can result in significant cost increases above cost amounts we previously estimated. As of March 31, 2016, we have provided for our estimated costs to complete on all of our ongoing contracts. However, it is possible that current estimates could change due to unforeseen events, which could result in adjustments to overall contract costs. Variations from estimated contract performance could result in material adjustments to operating results. For all contracts, if a current estimate of total contract cost indicates a loss, the projected loss is recognized in full when determined.

The following is a discussion of our most significant changes in estimates that impacted operating income for the three months ended March 31, 2016 and 2015.

Three months ended March 31, 2016

Operating income for the three months ended March 31, 2016 was positively impacted by net favorable changes in cost estimates totaling approximately $40 million across all segments.

Americas, Europe and Africa Segment (“AEA”)—This segment was positively impacted by net favorable changes in estimates aggregating approximately $16 million, primarily attributable to successful execution and close-out improvements on two significant projects, PB Litoral and Exxon Julia Subsea Tieback, in the first quarter of 2016. Included in the change was a reversal of a $7 million provision for liquidated damages due to an agreed extension of the PB Litoral project completion date. Miscellaneous other projects also experienced net positive changes in estimate, which were individually not material.

Middle East Segment (“MEA”)—This segment was positively impacted by net favorable changes in estimates aggregating approximately $7 million, primarily due to productivity improvements and associated cost savings related to the DB 27 vessel on a Saudi Aramco project and cost savings on miscellaneous other projects.

Asia Segment (“ASA”)—This segment had net favorable changes in estimates aggregating approximately $17 million driven by improved productivity and project execution cost savings on the Inpex Ichthys project, agreement on outstanding change orders on the Brunei Shell Petroleum pipeline replacement project and agreement on outstanding change orders and cost savings on miscellaneous other projects.

Three months ended March 31, 2015

Operating income for the three months ended March 31, 2015 was positively impacted by net favorable changes in cost estimates totaling approximately $22 million across all segments.

AEA—This segment was positively impacted by net favorable changes in estimates aggregating approximately $7 million, primarily due to $4 million in reduced cost estimates attributable to a revised demobilization plan for one of our vessels, the North Ocean 105 (the “NO 105”), which is currently working on a subsea project in Brazil.

MEA—This segment was positively impacted by net favorable changes in estimates aggregating approximately $9 million. Two EPCI projects in Saudi Arabia were positively impacted by $7 million of changes in revenue recovery and cost savings based on constructive discussions with the customer on design optimization and by $6 million for improvement in revenue recovery estimates and due to the favorable outcome of our discussions with the customer on compensation for vessel downtime due to weather and standby delays. These favorable changes were partially offset by the $5 million negative impact on an EPCI project in Saudi Arabia, primarily due to changes in cost estimates as a result of a change in marine execution plans.

ASA—This segment was positively impacted by net favorable changes in estimates aggregating approximately $6 million, driven by multiple projects, none of the individual results of which were material.