EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2020

Earnings Per Share [Abstract]

EARNINGS PER SHARE

NOTE 20—EARNINGS PER SHARE

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

	Three Months Ended March 31,
	2020			2019
	(In millions, except per share amounts)
Net loss from continuing operations attributable to McDermott	$	(1,358	)	$	(95	)
Net (loss) income from discontinued operations attributable to McDermott		(14	)		38
Net loss	$	(1,372	)	$	(57	)
Less: Net income (loss) attributable to noncontrolling interests		6			(1	)
Net loss attributable to McDermott	$	(1,378	)	$	(56	)
Dividends on redeemable preferred stock		(3	)		(10	)
Accretion of redeemable preferred stock		(1	)		(4	)
Net loss attributable to common stockholders	$	(1,382	)	$	(70	)
Net (loss) income per share attributable to common stockholders
Continuing operations
Basic		(7.09	)		(0.60	)
Diluted		(7.09	)		(0.60	)
Discontinued operations
Basic		(0.07	)		0.21
Diluted		(0.07	)		0.21
Shares used in the computation of net (loss) income per share
Basic		193			181
Diluted		193			181

The effects of stock-based awards, warrants and redeemable preferred stock were not included in the calculation of diluted earnings per share for the three months ended March 31, 2020 and 2019 due to the net loss for the periods.

Effects of the Chapter 11 Cases on the Common Stock — The provisions of the RSA and the Plan of Reorganization contemplate that the existing equity interests will be cancelled and discharged in connection with the Chapter 11 Cases and the holders of those equity interests, including the holders of our outstanding shares of common stock, will be entitled to no recovery relating to those equity interests.