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, net in our Consolidated Statements of Operations. Previously, restructuring expenses were presented separately in our Consolidated Statements of Operations.

No restructuring costs were incurred in 2017. The restructuring costs incurred in 2016 and from inception to September 30, 2017, by major cost type is presented below.

		Three Months Ended		Nine Months Ended			From Inception to
		September 30, 2016					September 30, 2017
	(in thousands)
Americas Restructuring		$	-	$	(1,500	)	$	44,194

McDermott Profitability Initiative
Severance and other personnel-related costs			1,165		2,590			17,807
Asset impairment and disposal			-		-			7,471
Legal and other advisor fees			-		222			11,639
Other			-		2,436			10,045
			1,165		5,248			46,962
Additional Overhead Reduction
Severance and other personnel-related costs			556		4,600			5,012
Legal and other advisor fees			-		1,968			2,768
Other			115		371			385
			671		6,939			8,165

Total		$	1,836	$	10,687		$	99,321