CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Millions		Mar. 31, 2019		Dec. 31, 2018
Current assets:
Cash and cash equivalents ($142 and $146 related to variable interest entities ("VIEs"))		$ 413		$ 520
Restricted cash and cash equivalents	[1]	326		325
Accounts receivable—trade, net ($15 and $29 related to VIEs)		977		932
Accounts receivable—other ($49 and $57 related to VIEs)		149		175
Contracts in progress ($245 and $144 related to VIEs)		1,006		704
Project-related intangible assets, net		114		137
Inventory		106		101
Other current assets ($29 and $24 related to VIEs)		148		139
Total current assets		3,239		3,033
Property, plant and equipment, net		2,051		2,067
Operating lease right-of-use assets		401
Accounts receivable—long-term retainages		69		62
Investments in unconsolidated affiliates		453		452
Goodwill		2,681	[2]	2,654
Other intangibles, net		979		1,009
Other non-current assets		156		163
Total assets		10,029		9,440
Current liabilities:
Revolving credit facility		178
Current maturities of long-term debt		30		30
Current portion of long-term lease obligations		97		8
Accounts payable ($326 and $277 related to VIEs)		949		595
Advance billings on contracts ($541 and $717 related to VIEs)		1,618		1,954
Project-related intangible liabilities, net		52		66
Accrued liabilities ($94 and $136 related to VIEs)		1,694		1,564
Total current liabilities		4,618		4,217
Long-term debt		3,393		3,393
Long-term lease obligations		394		66
Deferred income taxes		47		47
Other non-current liabilities		659		664
Total liabilities		9,111		8,387
Commitments and contingencies
Mezzanine equity:
Redeemable preferred stock		243		230
Stockholders' equity:
Common stock, par value $1.00 per share, authorized 255 shares; issued 183 and 98 shares, respectively		184		183
Capital in excess of par value		3,545		3,539
Accumulated deficit		(2,789)		(2,719)
Accumulated other comprehensive loss		(165)		(107)
Treasury stock, at cost: 3 and 3 shares, respectively		(96)		(96)
Total McDermott Stockholders' Equity		679		800
Noncontrolling interest		(4)		23
Total stockholders' equity		675		823
Total liabilities and stockholders' equity		$ 10,029		$ 9,440

[1] ^{Our restricted cash balances primarily serve as cash collateral deposits for our letter of credit facilities. See Note 11, Debt, for further discussion.}

[2] At March 31, 2019, we had approximately $2.2 billion of cumulative impairment charges recorded in conjunction with our impairment analysis performed during the fourth quarter of 2018, as further described in the 2018 Form 10-K.