CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions		Dec. 31, 2018		Dec. 31, 2017
Current assets:
Cash and cash equivalents ($146 and $0 related to variable interest entities ("VIEs"))		$ 520		$ 390
Restricted cash and cash equivalents	[1]	325		18
Accounts receivable—trade, net ($29 and $0 related to VIEs)		932		328
Accounts receivable—other ($57 and $0 related to VIEs)		175		42
Contracts in progress ($144 and $0 related to VIEs)		704	[2]	621
Project-related intangible assets, net		137
Inventory		101
Other current assets ($24 and $0 related to VIEs)		139		36
Total current assets		3,033		1,435
Property, plant and equipment, net	[3],[4]	2,067		1,666
Accounts receivable—long-term retainages		62		39
Investments in unconsolidated affiliates	[5]	452		8
Goodwill		2,654
Other intangibles, net		1,009
Deferred income taxes				18
Other non-current assets		163		57
Total assets		9,440		3,223
Current liabilities:
Current maturities of long-term debt		30		24
Current portion of long-term lease obligations		8
Accounts payable ($277 and $0 related to VIEs)		595		279
Advance billings on contracts ($717 and $0 related to VIEs)		1,954	[2]	32
Project-related intangible liabilities, net		66
Accrued liabilities ($136 and $0 related to VIEs)	[4]	1,564		372
Total current liabilities		4,217		707
Long-term debt		3,393		512
Long-term lease obligations		66		1
Deferred income taxes		47		28
Other non-current liabilities	[4]	664		186
Total liabilities		8,387		1,434
Commitments and contingencies
Mezzanine equity:
Redeemable preferred stock		230
Stockholders' equity:
Common stock, par value $1.00 per share, authorized 255 shares; issued 183 and 98 shares, respectively		183		98
Capital in excess of par value		3,539		1,858
Accumulated deficit		(2,719)	[6]	(48)
Accumulated other comprehensive loss		(107)		(51)
Treasury stock, at cost: 3 and 3 shares, respectively		(96)		(96)
Total McDermott Stockholders' Equity		800		1,761
Noncontrolling interest		23		28
Total stockholders' equity		823		1,789
Total liabilities and stockholders' equity		$ 9,440		$ 3,223

[1] Our restricted cash balances primarily served as cash collateral deposits for our letter of credit facilities. See Note 13, Debt, for further discussion.

[2] Costs incurred in excess of costs recognized (assets) and costs recognized in excess of costs incurred (liabilities) resulted from the exclusion of certain costs when measuring progress toward completion under the cost-to-cost method, prior to our adoption of ASC Topic 606. These remaining amounts will be recognized in Cost of operations as the underlying projects progress.

[3] Our marine vessels are included in the area in which they were located as of the reporting date.

[4] Our December 31, 2018 property, plant and equipment, net, accrued liabilities and other non-current liabilities included $374 million, $1.1 billion and $443 million, respectively, associated with the Combination.

[5] The Consolidated Balance Sheets as of December 31, 2018 and 2017 include approximately $15 million and $7 million of accounts receivable, respectively, from our unconsolidated affiliates.

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