STOCKHOLDERS' EQUITY (Tables)

12 Months Ended

Dec. 31, 2019

Accumulated Other Comprehensive Income Loss [Line Items]

Changes in the Number of Shares Outstanding and Treasury Shares Held by the Company

Shares Outstanding and Treasury Shares―The changes in the number of shares outstanding and treasury shares held by us are as follows (in millions):

	Year ended December 31,
	2019			2018
Shares outstanding
Beginning balance		181			95
Common stock issued (1)		13			2
Shares issued in the Combination (Note 3, Business Combination) (2)		-			85
Purchase of common stock		(1	)		(1	)
Ending balance		193			181
Shares held as Treasury shares
Beginning balance		3			3
Purchase of common stock		1			1
Retirement of common stock		(1	)		(1	)
Ending balance		3			3
Ordinary shares issued at the end of the period		196			183

⁽¹⁾ In December 2019, in connection with the Superpriority Credit Agreement, discussed in Note 13, Debt, we issued approximately 11 million shares of McDermott common stock, 0.09 million of Series B Warrants (that will entitle each holder to purchase one share of common stock of McDermott, par value $1.00 per share, at a purchase price of $0.01 per share) (the “Series B Warrants” and, together with the Series A Warrants, the “Warrants”) and 0.56 million shares of Series A Preferred Stock with par value of 0.001 per share, to certain Superpriority Credit Agreement lenders.

⁽²⁾ As discussed in Note 3, Business Combination, in May 2018, we issued 84.5 million shares of McDermott common stock to the former CB&I shareholders. Additionally, effective as of the Combination Date, unvested and unexercised stock-settled equity-based awards (which included 2.1 million of CB&I restricted stock units and stock options to purchase 0.1 million shares of CB&I’s common stock) were canceled and converted into comparable McDermott stock-settled awards with generally the same terms and conditions as those prior to the Combination Date. The restricted stock units generally vest over a period ranging from three to four years from the original grant date. 

Components of Accumulated Other Comprehensive Income (Loss) Included in Stockholders' Equity

The components of AOCI included in stockholders’ equity are as follows:

	December 31,
	2019			2018
	(In millions)
Foreign currency translation adjustments ("CTA")	$	(97	)	$	(73	)
Net unrealized loss on derivative financial instruments		(12	)		(40	)
Defined benefit pension and other postretirement plans		6			6
Accumulated other comprehensive loss	$	(103	)	$	(107	)

Reclassifications [Member]

Accumulated Other Comprehensive Income Loss [Line Items]

Components of Accumulated Other Comprehensive Income (Loss) Included in Stockholders' Equity

The following table presents the components of AOCI and the amounts that were reclassified during the periods indicated:

	Foreign Currency Translation adjustments			Net unrealized loss on derivative financial instruments (1)			Defined benefit pension and other postretirement plans		TOTAL
	(In millions)
January 1, 2018	$	(49	)	$	(2	)	$	-	$	(51	)
Other comprehensive (loss) income before reclassification		(24	)		(46	)		6		(64	)
Amounts reclassified from AOCI (2)		-			8			-		8
Net current period other comprehensive income		(24	)		(38	)		6		(56	)
December 31, 2018	$	(73	)	$	(40	)	$	6	$	(107	)
Other comprehensive (loss) income before reclassification		(24	)		(57	)		-		(81	)
Amounts reclassified from AOCI (2)		-			85			-		85
Net current period other comprehensive (loss) income		(24	)		28			-		4
December 31, 2019	$	(97	)	$	(12	)	$	6	$	(103	)

⁽¹⁾ Refer to Note 17, Derivative Financial Instruments, for additional details.

^{(2) Amounts are net of tax, which was not material in 2019 and 2018.}