EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2019

NOTE 22—EARNINGS PER SHARE

The following table sets forth the computation of basic and diluted earnings per common share.

	Year ended December 31,
	2019⁽¹⁾			2018⁽¹⁾			2017 ⁽²⁾
	(In millions, except per share amounts)
Net (loss) income attributable to McDermott	$	(2,909	)	$	(2,687	)	$	179
Dividends on redeemable preferred stock		(44	)		(3	)		-
Accretion of redeemable preferred stock		(16	)		(1	)		-
Net (loss) income attributable to common stockholders	$	(2,969	)	$	(2,691	)	$	179

Weighted average common stock (basic)		182			150			91
Effect of dilutive securities:
Restricted stock and tangible equity units		-			-			4
Potential dilutive common stock		182			150			95

Net (loss) income per share attributable to common stockholders
Basic:	$	(16.31	)	$	(17.94	)	$	1.97
Diluted:	$	(16.31	)	$	(17.94	)	$	1.88

⁽¹⁾	^{The effects of restricted stock, warrants and redeemable preferred stock were not included in the calculation of diluted earnings per share for 2019 and 2018 due to the net losses for each such year.}

⁽²⁾

^{Approximately 0.5 million shares of underlying outstanding stock-based awards in 2017 were excluded from the computation of diluted earnings per share during such year 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 during such year.}