NOTE 4—RESTRUCTURING

Restructuring initiatives are driven and managed by our corporate management. These costs are not allocated to our reportable segments and are reported under Corporate and Other.

Restructuring expenses are reported as a component of Other operating (income) expenses in our Consolidated Statements of Operations. Previously, restructuring expenses were presented separately in our Consolidated Statements of Operations.

The following table presents restructuring costs incurred in the first quarter of 2016 and from inception, by major cost type. No restructuring costs were incurred in the first quarter of 2017.

		Three months ended March 31, 2016		From inception to March 31, 2017
	(in thousands)
Americas Restructuring		$	-	$	44,194

McDermott Profitability Initiative
Severance and other personnel-related costs			433		17,807
Asset impairment and disposal			-		7,471
Legal and other advisor fees			173		11,639
Other			895		10,045
			1,501		46,962
Additional Overhead Reduction
Severance and other personnel-related costs			2,971		5,012
Legal and other advisor fees			1,728		2,768
Other			167		385
			4,866		8,165

Total		$	6,367	$	99,321