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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.