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EARNINGS PER SHARE
 3 Months Ended
Mar. 31, 2016
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,

 

 

 

2016

 

 

2015

 

 

 

(In thousands, except share and per share amounts)

 

Net loss attributable to McDermott International, Inc.

 

$

(2,172

)

 

$

(14,507

)

 

 

 

 

 

 

 

 

 

Weighted average common shares (basic)

 

 

239,137,912

 

 

 

237,504,719

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

Tangible equity units

 

 

-

 

 

 

-

 

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)

 

 

239,137,912

 

 

 

237,504,719

 

 

 

 

 

 

 

 

 

 

Loss per share

 

 

 

 

 

 

 

 

Net loss attributable to McDermott International, Inc.

 

 

 

 

 

 

 

 

Basic:

 

 

(0.01

)

 

 

(0.06

)

Diluted:

 

 

(0.01

)

 

 

(0.06

)

 Approximately 7 million and 3.3 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, 2016 and 2015, 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, 2016 and 2015; however, due to our net loss position, they have not been reflected above because they would be anti-dilutive.