EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2018

Earnings Per Share [Abstract]

EARNINGS PER SHARE

NOTE 14—EARNINGS PER SHARE

The following table sets forth the computation of basic and diluted earnings per common share:  

	Three Months Ended March 31,
	2018		2017
	(in thousands, except share and per share amounts)
Net income attributable to McDermott	$	35,189	$	21,916
Weighted average common stock (basic)		284,658,938		241,829,988
Effect of dilutive securities:
Tangible equity units		-		38,000,936
Stock options, restricted stock and restricted stock units		391,586		2,454,671
Potential dilutive common stock		285,050,524		282,285,595
Net income per share attributable to McDermott
Basic:	$	0.12	$	0.09
Diluted:	$	0.12	$	0.08

Approximately 1 million and 2 million shares underlying outstanding stock-based awards for the three months ended March 31, 2018 and 2017, respectively, were excluded from the computation of diluted earnings per share during those periods because the exercise price of those awards was greater than the average market price of our common stock, and the inclusion of such shares would have been antidilutive.