The cumulative effect of adopting ASC 606 due to our change in method of measuring project progress toward completion, as discussed in Note 2, Basis of Presentation and Significant Accounting Policies, is as follows:

	Impact of ASC 606 adoption
	Legacy GAAP			Adjustment			As reported
	(In millions)
Consolidated Statement of Operations for year ended December 31, 2018
Revenues		6,816			(111	)		6,705
Cost of operations		6,278			(91	)		6,187
Income tax expense		105			(1	)		104
Net loss attributable to common stockholders		(2,672	)		(19	)		(2,691	)

Consolidated Balance Sheet as of December 31, 2018
Assets
Current assets:
Contracts in progress		704			-			704

Liabilities and equity
Current liabilities:
Advance billings on contracts		1,954			-			1,954

Stockholders' equity⁽¹⁾
Accumulated deficit		(2,718	)		(1	)		(2,719	)

	December 31, 2018				December 31, 2017
	(Dollars in millions)
NCSA	$	5,649	52	%	$	437	11	%
EARC		1,378	12	%		732	19	%
MENA		1,834	17	%		2,249	58	%
APAC		1,420	13	%		483	12	%
Technology		632	6	%		-	-
Total	$	10,913	100	%	$	3,901	100	%

Our revenue by product offering, contract types and revenue recognition methodology was as follows:

	Year ended December 31,
	2018 ⁽²⁾		2017 ⁽²⁾		2016 ⁽²⁾
	(In millions)
Revenue by product offerings:
Offshore and subsea	$	2,289	$	2,985	$	2,636
LNG		1,309		-		-
Downstream ⁽¹⁾		2,224		-		-
Power		883		-		-
	$	6,705	$	2,985	$	2,636

Contract types:
Fixed priced	$	5,239	$	2,895	$	2,425
Reimbursable		1,004		-		-
Hybrid		260		-		-
Unit-basis and other		202		90		211
	$	6,705	$	2,985	$	2,636

Revenue recognition methodology
Over time	$	6,628	$	2,985	$	2,636
At a point in time		77		-		-
	$	6,705	$	2,985	$	2,636

Unapproved Change Orders, Claims and Incentives—As of December 31, 2018, we had unapproved change orders and claims included in transaction prices aggregating to approximately $428 million, of which approximately $130 million was included in our RPO balance. As of December 31, 2017, we had unapproved change orders and claims included in transaction prices aggregating to approximately $117 million, of which approximately $8 million was included in our RPO balance.

As of December 31, 2018 and 2017, we did not have any material incentives included in transaction prices for our projects.

The amounts recorded in contract prices and recognized as revenues reflect our best estimates of recovery; however, the ultimate resolution and amounts received could differ from these estimates and could have a material adverse effect on our results of operations, financial position and cash flow.

Based on our assessment at December 31, 2018, four projects determined to be in substantial loss positions, including the Cameron LNG, Freeport LNG Trains 1 & 2, the gas power project for a unit of Calpine Corporation (“Calpine”) and the now-completed gas power project for Indianapolis Power & Light Company, were included in the preliminary purchase price allocation for the Combination (see Note 3, Business Combination). Our Freeport LNG Train 3 project is not anticipated to be in a loss position.

We have had unfavorable changes in estimates of $815 million on the Cameron LNG project, $296 million on the Freeport LNG Trains 1 & 2 and Train 3 projects and $122 million on the Calpine project since the Combination Date, of which approximately $647 million, $296 million and $91 million, respectively, were included as adjustments to the fair values reflected in the acquired balance sheet for the Combination. The changes in estimates reflected in the acquired balance sheet did not result in a significant direct impact on our net income during 2018. The changes in estimates for the Freeport Trains 1 & 2 and Train 3 projects totaled approximately $102 million during the fourth quarter of 2018. The changes in estimates for the Cameron LNG and Calpine projects that were not reflected in the acquired balance sheet were recognized during the fourth quarter of 2018 and resulted in charges of approximately $168 million and $31 million, respectively, to loss from operations during 2018.

Our offshore Abkatun-A2 platform project was also determined to be in a substantial loss position at December 31, 2018. The changes in estimates for this project resulted in a charge of approximately $59 million, primarily during the fourth quarter of 2018, due to the reversal of previously recognized profit and the accrual of a loss provision.

Our accrual of provisions for estimated losses on active uncompleted contracts as of December 31, 2018 was $266 million and primarily related to the Cameron LNG, Freeport LNG Trains 1 & 2, Calpine and Abkatun loss projects. Our accrual of provisions for estimated losses on active uncompleted contracts at December 31, 2017 was not material.

Summary information for our significant ongoing loss projects as of December 31, 2018 is as follows:

Cameron LNG―At December 31, 2018, our U.S. LNG export facility project in Hackberry, Louisiana for Cameron LNG (within our NCSA operating group) was approximately 50% complete on a post-Combination basis (approximately 85% on a pre-Combination basis) and had an accrued provision for estimated losses of approximately $185 million. For these purposes (and for purposes of the discussion below), when we refer to a percentage of completion on a pre-Combination basis, we are referring to the cumulative percentage of completion, which includes progress made prior to the Combination Date. In accordance with GAAP, as of the Combination Date, we reset the progress to completion for all of CB&I’s projects then in progress to 0% for accounting purposes.

Through the third quarter of 2018, our changes in estimates to complete the project since the Combination Date of approximately $647 million were primarily due to a detailed reassessment of schedule and underlying cost base. The schedule analysis included a reassessment of the remaining work, including re-work for which we may not be fully compensated, and took into account revisions to the estimation of productivity based on historical efforts and the quality and availability of labor resources throughout the revised project schedule. The revised schedule also resulted in loss of incentive revenue. These changes in estimates were reflected as adjustments to the fair values of various assets and liabilities in the acquired balance sheet, as they resulted from refinements of estimates of conditions that existed as of the Combination Date, and primarily impacted Advance billings on contracts.

In the fourth quarter of 2018, we determined incremental changes in estimates of approximately $168 million resulting from poor labor productivity and increases in subcontract, commissioning and construction management costs represented refinements of estimates of conditions that transpired subsequent to the Combination Date and were therefore recorded as charges to operating loss during the period.

Freeport LNG―At December 31, 2018, Trains 1 & 2 of our U.S. LNG export facility project in Freeport, Texas for Freeport LNG (within our NCSA operating group) were approximately 64% complete on a post-Combination basis (approximately 91% on a pre-Combination basis) and had an accrued provision for estimated losses of approximately $26 million.

Our changes in estimates to complete the project since the Combination Date were primarily due to increases in cost estimates resulting from a detailed reassessment of schedule and underlying cost base. The schedule analysis included a reassessment of the remaining work, including re-work for which we may not be fully compensated, and took into account revisions to the estimation of productivity based on historical efforts and the quality and availability of labor resources throughout the revised project schedule. Our changes in estimates for the project also reflect our decision, reached in conjunction with ongoing customer discussions, to include liquidated damages associated with the pre-Hurricane Harvey schedule and other delays, as well as revised estimates of customer and insurance claim recoveries.

These changes in estimates, inclusive of reductions in customer and insurance claim recovery estimates and additional liquidated damages during the fourth quarter of 2018, were reflected as adjustments to the fair values of various assets and liabilities in the acquired balance sheet, as they resulted from refinements of estimates of conditions that existed as of the Combination Date, and primarily impacted Advance billings on contracts.

Calpine Power Project―At December 31, 2018, our U.S. gas turbine power project in the Northeast for Calpine (within our NCSA operating group) was approximately 80% complete on a post-Combination basis (approximately 95% on a pre-Combination basis) and had an accrued provision for estimated losses of approximately $25 million.

Through the third quarter of 2018, our changes in cost estimates to complete the project since the Combination Date of approximately $91 million were recorded as adjustments to the fair value of the acquired balance sheet and were primarily associated with revisions to the estimation of productivity based on historical performance. These changes in estimates were reflected as adjustments to the fair values of various assets and liabilities in the acquired balance sheet, as they resulted from refinements of estimates of conditions that existed as of the Combination Date, and primarily impacted Advance billings on contracts. In the fourth quarter of 2018, we determined that incremental changes in estimates of approximately $31 million resulting from increases in subcontract costs represented refinements of estimates of conditions that transpired subsequent to the Combination Date and were therefore recorded as charges to operating loss during the period.

Abkatun-A2 Project―At December 31, 2018, our Abkatun-A2 platform project in Mexico for Pemex was approximately 88% complete and had an accrued provision for estimated losses of approximately $6 million. The changes in estimates, primarily during the fourth quarter of 2018, resulting in the $59 million charge were largely caused by higher than expected offshore carryover work, challenges due to higher than normal weather downtime and weather induced poor labor productivity resulting in additional vessel and labor costs.