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REVENUE RECOGNITION (Tables)

12 Months Ended

Dec. 31, 2018

Cumulative Effect of Revenue Recognition Accounting Change

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	)

⁽¹⁾	^{Includes $20 million of cumulative catch-up adjustment to Retained earnings (Accumulated deficit) on January 1, 2018, upon adoption of ASC 606.}

Summary of RPOs by Segment

Our RPOs by segment were as follows:

	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	%

Summary of RPOs Expected Revenue Recognition

Of the December 31, 2018 RPOs, we expect to recognize revenues as follows:

	2019		2020		Thereafter
	(In millions)
Total RPOs	$	7,113	$	2,887	$	913

Summary of Revenue by Product Offering, Contract Types and Revenue Recognition Methodology

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

⁽¹⁾	^{Includes the results of our Technology operating group.}

⁽²⁾	^{Intercompany amounts have been eliminated in consolidation.}