PENSION AND POSTRETIREMENT BENEFITS

9 Months Ended

Sep. 30, 2017

Compensation And Retirement Disclosure [Abstract]

PENSION AND POSTRETIREMENT BENEFITS

NOTE 10—PENSION AND POSTRETIREMENT BENEFITS

Net pension cost (benefit) recognized during each period presented relate to expected return on plan assets, net of interest costs, for our defined benefit pension plans.

Net periodic cost (benefit) for our qualified defined benefit pension plan and several of our non-qualified supplemental defined benefit pension plans (the “Domestic Plans”) and our J. Ray McDermott, S.A. Third Country National Employees Pension Plan (the “TCN Plan”) was as follows:

	Domestic Plans
	Three Months Ended September 30,						Nine Months Ended September 30,
	2017			2016			2017			2016
	(In thousands)
Interest cost	$	4,991		$	5,276		$	14,973		$	15,828
Expected return on plan assets		(4,907	)		(5,002	)		(14,721	)		(15,006	)
Net periodic (benefit) cost	$	84		$	274		$	252		$	822

	TCN Plan
	Three Months Ended September 30,						Nine Months Ended September 30,
	2017			2016			2017			2016
	(In thousands)
Interest cost	$	290		$	338		$	870		$	1,014
Expected return on plan assets		(345	)		(397	)		(1,035	)		(1,191	)
Net periodic (benefit) cost	$	(55	)	$	(59	)	$	(165	)	$	(177	)

We recognize mark to market fair value adjustment on defined benefit plans in our Consolidated Statements of Operations in the fourth quarter of each year.