CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents ($239 and $213 related to variable interest entities ("VIEs"))	$ 1,177	$ 790
Restricted cash and cash equivalents	397	393
Accounts receivable—trade, net ($92 and $102 related to VIEs)	832	942
Accounts receivable—other ($29 and $32 related to VIEs)	186	178
Contracts in progress ($246 and $195 related to VIEs)	979	703
Project-related intangible assets, net	27	33
Current assets of discontinued operations held for sale	2,451	306
Other current assets ($25 and $25 related to VIEs)	192	210
Total current assets	6,241	3,555
Property, plant and equipment, net	1,224	2,066
Operating lease right-of-use assets	330	349
Accounts receivable—long-term retainages	32	24
Investments in unconsolidated affiliates	74	73
Goodwill	56	147	[1]
Other intangibles, net	168	179
Non-current assets of discontinued operations held for sale		2,173
Other non-current assets	175	171
Total assets	8,300	8,737
Current liabilities:
Debt	2,038	5,107
Lease obligations	138	140
Accounts payable ($149 and $182 related to VIEs)	796	1,083
Advance billings on contracts ($504 and $542 related to VIEs)	1,177	1,191
Project-related intangible liabilities, net	8	10
Current liabilities of discontinued operations held for sale	426	383
Accrued liabilities ($64 and $69 related to VIEs)	1,302	1,530
Total current liabilities	5,885	9,444
Long-term lease obligations	279	294
Deferred income taxes	55	59
Non-current liabilities of discontinued operations held for sale		76
Other non-current liabilities	804	717
Total liabilities not subject to compromise	7,023	10,590
Liabilities subject to compromise	4,578
Mezzanine equity:
Redeemable preferred stock	294	290
Stockholders' equity:
Common stock, par value $1.00 per share, authorized 255 shares; issued 196 shares	196	196
Capital in excess of par value	3,557	3,553
Accumulated deficit	(7,082)	(5,693)
Accumulated other comprehensive loss	(177)	(103)
Treasury stock, at cost: 3 and 3 shares, respectively	(96)	(96)
Total McDermott Stockholders' Equity	(3,602)	(2,143)
Noncontrolling interest	7
Total stockholders' equity	(3,595)	(2,143)
Total liabilities and stockholders' equity	$ 8,300	$ 8,737

[1] As of January 1, 2020, we had approximately $3.5 billion of cumulative impairment charges recorded in conjunction with our impairment assessments performed during 2019 and 2018, as previously described in the 2019 Form 10-K