Chicago Bridge & Iron 10-Q 24 Apr 18 2018 Q1 Quarterly report Financial data

DOCUMENT AND ENTITY INFORMATION

DOCUMENT AND ENTITY INFORMATION - shares	3 Months Ended
	Mar. 31, 2018	Apr. 16, 2018
Document and Entity Information [Abstract]
Entity Registrant Name	CHICAGO BRIDGE & IRON CO N V
Trading Symbol	CBI
Entity Central Index Key	1,027,884
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		102,548,319

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Statement [Abstract]
Revenue	$ 1,745,619	$ 1,827,352
Cost of revenue	1,572,520	1,676,401
Gross profit	173,099	150,951
Selling and administrative expense	64,498	73,057
Intangibles amortization	6,552	6,486
Equity earnings	(9,444)	(7,611)
Restructuring related costs	5,110	0
Other operating (income) expense, net	(1,314)	31
Income from operations	107,697	78,988
Interest expense	(52,452)	(24,101)
Interest income	577	1,228
Income from operations before taxes	55,822	56,115
Income tax expense	(11,164)	(13,704)
Net income from continuing operations	44,658	42,411
Net income from discontinued operations	0	9,494
Net income	44,658	51,905
Less: Net income attributable to noncontrolling interests ($0 and $413 related to discontinued operations)	(764)	(27,250)
Net income attributable to CB&I	$ 43,894	$ 24,655
Net income attributable to CB&I per share (Basic):
Continuing operations (in dollars per share)	$ 0.43	$ 0.16
Discontinued operations (in dollars per share)	0	0.09
Total (in dollars per share)	0.43	0.25
Net income attributable to CB&I per share (Diluted):
Continuing operations (in dollars per share)	0.43	0.15
Discontinued operations (in dollars per share)	0	0.09
Total (in dollars per share)	$ 0.43	$ 0.24
Weighted average shares outstanding:
Basic (in shares)	102,333	100,451
Diluted (in shares)	102,627	101,360
Cash dividends on shares:
Amount	$ 0	$ 7,047
Per share (in dollars per share)	$ 0	$ 0.07

CONDENSED CONSOLIDATED STATEME3

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Statement [Abstract]
Net income (loss) related to discontinued operations	$ 0	$ 413

CONDENSED CONSOLIDATED STATEME4

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Net income	$ 44,658	$ 51,905
Other comprehensive income (loss), net of tax:
Change in unrealized fair value of cash flow hedges	(72)	353
Change in unrecognized prior service pension credits/costs	(52)	(76)
Change in unrecognized actuarial pension gains/losses	(3,918)	(1,433)
Comprehensive income	56,482	75,654
Net income attributable to noncontrolling interests ($0 and $413 related to discontinued operations)	(764)	(27,250)
Change in cumulative translation adjustment attributable to noncontrolling interests	416	(970)
Comprehensive income attributable to CB&I	56,134	47,434
Continuing Operations
Other comprehensive income (loss), net of tax:
Change in cumulative translation adjustment	15,866	24,410
Change in unrealized fair value of cash flow hedges	(72)	353
Change in unrecognized prior service pension credits/costs	(52)	(76)
Change in unrecognized actuarial pension gains/losses	(3,918)	(1,433)
Discontinued Operations
Other comprehensive income (loss), net of tax:
Other comprehensive income from discontinued operations - change in cumulative translation adjustment	$ 0	$ 495

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Statement of Comprehensive Income [Abstract]
Net income (loss) related to discontinued operations	$ 0	$ 413

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2018		Dec. 31, 2017
Assets
Cash and cash equivalents ($113,128 and $165,771 related to variable interest entities (VIEs))	$ 305,229		$ 354,639
Accounts receivable, net ($24,773 and $42,288 related to VIEs)	766,123		759,701
Inventory	112,978		101,573
Costs and estimated earnings in excess of billings ($183,988 and $42,997 related to VIEs)	392,589		315,744
Assets held for sale	18,300		17,845
Other current assets ($103,456 and $163,810 related to VIEs)	224,833		281,171
Total current assets	1,820,052		1,830,673
Equity investments	209,565		206,118
Property and equipment, net	415,665		418,531
Goodwill	2,838,836	[1]	2,836,582
Other intangibles, net	190,476		196,473
Other non-current assets ($128,541 and $74,067 related to VIEs)	545,979		483,205
Total assets	6,020,573		5,971,582
Liabilities
Revolving facility and other short-term borrowings	1,388,151		1,102,151
Current maturities of long-term debt, net	1,145,358		1,160,291
Accounts payable ($382,616 and $348,872 related to VIEs)	950,075		971,735
Billings in excess of costs and estimated earnings ($48,970 and $130,484 related to VIEs)	1,155,780		1,275,441
Other current liabilities	618,210		752,294
Total current liabilities	5,257,574		5,261,912
Deferred income taxes	56,028		63,771
Other non-current liabilities	424,483		427,535
Total liabilities	5,738,085		5,753,218
Shareholders’ Equity
Common stock, Euro .01 par value; shares authorized: 250,000; shares issued: 108,857 and 108,857; shares outstanding: 102,547 and 101,705	1,288		1,288
Additional paid-in capital	715,932		743,128
Retained deficit	(57,802)		(101,696)
Treasury stock, at cost: 6,310 and 7,152 shares	(216,804)		(254,642)
Accumulated other comprehensive loss	(304,268)		(316,508)
Total CB&I shareholders’ equity	138,346		71,570
Noncontrolling interests	144,142		146,794
Total shareholders’ equity	282,488		218,364
Total liabilities and shareholders’ equity	$ 6,020,573		$ 5,971,582
[1]	At March 31, 2018, we had approximately $453,100 of cumulative impairment losses which were recorded in our Engineering & Construction operating group during 2015 related to the sale of our nuclear power construction business (our “Nuclear Operations”) on December 31, 2015.

CONDENSED CONSOLIDATED BALANCE7

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) $ in Thousands	Mar. 31, 2018USD ($)shares	Mar. 31, 2018€ / shares	Dec. 31, 2017USD ($)shares	Dec. 31, 2017€ / shares
Cash and cash equivalents related to variable interest entities (VIEs)	$ 305,229		$ 354,639
Accounts receivable, net, related to VIEs	766,123		759,701
Costs and estimated earnings in excess of billings related to VIEs	392,589		315,744
Other current assets related to VIEs	224,833		281,171
Other non-current assets related to VIEs	545,979		483,205
Accounts payable related to VIEs	950,075		971,735
Billings in excess of costs and estimated earnings related to VIEs	$ 1,155,780		$ 1,275,441
Common stock, par value (in euros per share) | € / shares		€ 0.01		€ 0.01
Common stock, shares authorized (in shares) | shares	250,000,000		250,000,000
Common stock, shares issued (in shares) | shares	108,857,000		108,857,000
Common stock, shares outstanding (in shares) | shares	102,547,000		101,705,000
Treasury stock, shares (in shares) | shares	6,310,000		7,152,000
Variable Interest Entity, Primary Beneficiary
Cash and cash equivalents related to variable interest entities (VIEs)	$ 113,128		$ 165,771
Accounts receivable, net, related to VIEs	24,773		42,288
Costs and estimated earnings in excess of billings related to VIEs	183,988		42,997
Other current assets related to VIEs	103,456		163,810
Other non-current assets related to VIEs	128,541		74,067
Accounts payable related to VIEs	382,616		348,872
Billings in excess of costs and estimated earnings related to VIEs	$ 48,970		$ 130,484

CONDENSED CONSOLIDATED STATEME8

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash Flows from Operating Activities
Net income	$ 44,658	$ 51,905
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization	18,738	26,264
Amortization of debt issuance costs	7,929	1,469
Deferred income taxes	(2,602)	15,101
Stock-based compensation expense	9,137	10,247
Other operating income, net	(1,314)	(77)
Unrealized loss on foreign currency hedges	5,432	1,380
Changes in operating assets and liabilities:
Increase in receivables, net	(6,422)	(217,122)
Change in contracts in progress, net	(196,506)	(6,057)
Increase in inventory	(11,405)	(12,346)
Decrease in accounts payable	(21,660)	(95,117)
(Increase) decrease in other current and non-current assets	(57,659)	12,062
Decrease in other current and non-current liabilities	(23,951)	(78,037)
(Increase) decrease in equity investments	(3,444)	953
Change in other, net	(1,242)	(1,307)
Net cash used in operating activities	(240,311)	(290,682)
Cash Flows from Investing Activities
Capital expenditures	(8,099)	(12,274)
Advances with partners of proportionately consolidated ventures, net	52,015	(23,788)
Proceeds from sale of property and equipment	742	1,108
Other, net	(25,844)	(8,342)
Net cash provided by (used in) investing activities	18,814	(43,296)
Cash Flows from Financing Activities
Revolving facility and other short-term borrowings, net	286,000	510,000
Advances with equity method and proportionately consolidated ventures and partners, net	(98,317)	47,099
Repayments on long-term debt	(18,750)	(300,000)
Purchase of treasury stock	(3,207)	(7,359)
Issuance of stock	4,120	3,877
Dividends paid	0	(7,047)
Distributions to noncontrolling interests	(3,000)	(18,985)
Capitalized debt issuance costs	(2,415)	0
Net cash provided by financing activities	164,431	227,585
Effect of exchange rate changes on cash and cash equivalents	7,656	21,316
Decrease in cash and cash equivalents	(49,410)	(85,077)
Cash and cash equivalents, beginning of period	354,639	505,156
Cash and cash equivalents, end of period	305,229	420,079
Cash and cash equivalents, end of period - discontinued operations	0	(17,782)
Cash and cash equivalents, end of period - continuing operations	$ 305,229	$ 402,297

CONDENSED CONSOLIDATED STATEME9

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Treasury Stock	Accumulated Other Comprehensive (Loss) Income	Noncontrolling Interests
Beginning Balance (in shares) at Dec. 31, 2016		100,113			8,744
Beginning balance at Dec. 31, 2016	$ 1,561,337	$ 1,288	$ 782,130	$ 1,370,606	$ (344,870)	$ (395,616)	$ 147,799
Increase (Decrease) in Stockholders' Equity
Net income	51,905			24,655			27,250
Change in cumulative translation adjustment, net	24,905					23,935	970
Change in unrealized fair value of cash flow hedges, net	353					353
Change in unrecognized prior service pension credits/costs, net	(76)					(76)
Change in unrecognized actuarial pension gains/losses, net	(1,433)					(1,433)
Distributions to noncontrolling interests	(18,985)						(18,985)
Dividends paid ($0.07 per share)	(7,047)			(7,047)
Stock-based compensation expense	10,247		10,247
Purchase of treasury stock (in shares)		(219)			219
Purchase of treasury stock	(7,359)				$ (7,359)
Issuance of stock (in shares)		808			(808)
Issuance of stock	3,905		(35,219)		$ 39,124
Ending Balance (in shares) at Mar. 31, 2017		100,702			8,155
Ending balance at Mar. 31, 2017	1,617,752	$ 1,288	757,158	1,388,214	$ (313,105)	(372,837)	157,034
Beginning Balance (in shares) at Dec. 31, 2017		101,705			7,152
Beginning balance at Dec. 31, 2017	218,364	$ 1,288	743,128	(101,696)	$ (254,642)	(316,508)	146,794
Increase (Decrease) in Stockholders' Equity
Net income	44,658			43,894			764
Change in cumulative translation adjustment, net	15,866					16,282	(416)
Change in unrealized fair value of cash flow hedges, net	(72)					(72)
Change in unrecognized prior service pension credits/costs, net	(52)					(52)
Change in unrecognized actuarial pension gains/losses, net	(3,918)					(3,918)
Distributions to noncontrolling interests	(3,000)						(3,000)
Dividends paid ($0.07 per share)	0
Stock-based compensation expense	9,137		9,137
Liability-based compensation fair value adjustment	592
Purchase of treasury stock (in shares)		(181)			181
Purchase of treasury stock	(3,207)				$ (3,207)
Issuance of stock (in shares)		1,023			(1,023)
Issuance of stock	4,120		(36,925)		$ 41,045
Ending Balance (in shares) at Mar. 31, 2018		102,547			6,310
Ending balance at Mar. 31, 2018	$ 282,488	$ 1,288	$ 715,932	$ (57,802)	$ (216,804)	$ (304,268)	$ 144,142

CONDENSED CONSOLIDATED STATEM10

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Statement of Stockholders' Equity [Abstract]
Dividends paid (in dollars per share)	$ 0	$ 0.07

ORGANIZATION AND NATURE OF OPER

ORGANIZATION AND NATURE OF OPERATIONS	3 Months Ended
	Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND NATURE OF OPERATIONS	ORGANIZATION AND NATURE OF OPERATIONS Organization and Nature of Operations —Founded in 1889 , Chicago Bridge & Iron Company N.V. (“CB&I”, “we”, “our”, “us” or the “Company”) provides a wide range of services, including conceptual design, technology, engineering, procurement, fabrication, modularization, construction and commissioning services to customers in the energy infrastructure market throughout the world. Our business is aligned into three operating groups, which represent our reportable segments: Engineering & Construction; Fabrication Services; and Technology. During the first quarter 2018, we realigned our Fabrication Services operating group and Technology operating group to reflect the present management oversight of our operations. See Note 2 and Note 5 for discussion of our discontinued operations and Note 17 for further discussion of our reportable segments and related financial information.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	SIGNIFICANT ACCOUNTING POLICIES Basis of Accounting and Consolidation —The accompanying unaudited interim Condensed Consolidated Financial Statements (“Financial Statements”) have been prepared in accordance with the rules and regulations of the United States (“U.S.”) Securities and Exchange Commission (the “SEC”) and accounting principles generally accepted in the U.S. (“U.S. GAAP”). These Financial Statements reflect all wholly-owned subsidiaries and those entities which we are required to consolidate. See the “Partnering Arrangements” section of this footnote for further discussion of our consolidation policy for those entities that are not wholly-owned. Intercompany balances and transactions are eliminated in consolidation. Basis of Presentation —We believe these Financial Statements include all adjustments, which are of a normal recurring nature, necessary for a fair presentation of our results of operations for the three months ended March 31, 2018 and 2017 , our financial position as of March 31, 2018 and our cash flows for the three months ended March 31, 2018 and 2017 . The December 31, 2017 Condensed Consolidated Balance Sheet (the “Balance Sheet(s)”) was derived from our December 31, 2017 audited Consolidated Balance Sheet. We believe the disclosures accompanying these Financial Statements are adequate to make the information presented not misleading. Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to the rules and regulations of the SEC for interim reporting periods. The results of operations and cash flows for the interim periods are not necessarily indicative of the results to be expected for the full year. The accompanying Financial Statements should be read in conjunction with our Consolidated Financial Statements and notes thereto included in our 2017 Annual Report. McDermott/CB&I Combination— On December 18, 2017, we entered into an agreement (the “Combination Agreement”) to combine with McDermott International, Inc. (“McDermott”) in an all-stock transaction whereby McDermott stockholders will own approximately 53% of the combined company and our shareholders will own approximately 47% (the “Combination”). Under the terms of the Combination Agreement, our shareholders would be entitled to receive 2.47221 shares of McDermott common stock for each share of our common stock (or 0.82407 shares if McDermott effects a planned three-to-one reverse stock split prior to closing), together with cash in lieu of fractional shares and subject to any applicable withholding taxes. A meeting of our shareholders and a meeting of McDermott stockholders to vote on their respective Combination-related proposals have each been scheduled for May 2, 2018. The Combination is anticipated to close in the second quarter 2018, subject to receipt of approval of our shareholders and McDermott stockholders, and satisfaction of other customary closing conditions. Discontinued Operations —On June 30, 2017, we completed the sale of our “Capital Services Operations” (primarily comprised of our former Capital Services reportable segment) to CSVC Acquisition Corp (“CSVC”). We considered the Capital Services Operations to be a discontinued operation, and accordingly, its operating results for the three months ended March 31, 2017 are classified as a discontinued operation within our Condensed Consolidated Statements of Operations (the “Statement(s) of Operations”). Cash flows of the Capital Services Operations for the three months ended March 31, 2017 are not reported separately within our Condensed Consolidated Statements of Cash Flows (the “Statement(s) of Cash Flows”). Unless otherwise noted, the values presented throughout the notes to our Financial Statements relate to our continuing operations. See Note 5 for further discussion of our discontinued operations. Use of Estimates —The preparation of our Financial Statements in conformity with U.S. GAAP requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenue and expenses and related disclosures of contingent assets and liabilities. We believe the most significant estimates and judgments are associated with (i) revenue recognition for our contracts, including estimating costs to complete each contract and the recognition of incentive fees and unapproved change orders and claims; (ii) fair value and recoverability assessments that must be periodically performed with respect to long-lived tangible assets, goodwill and other intangible assets; (iii) valuation of deferred tax assets and financial instruments; (iv) the determination of liabilities related to self-insurance programs and income taxes; and (v) consolidation determinations with respect to our partnering arrangements. If the underlying estimates and assumptions upon which our Financial Statements are based change in the future, actual amounts may differ from those included in the Financial Statements. Other Operating (Income) Expense, Net — Other operating (income) expense, net generally represents (gains) losses associated with the sale or disposition of property and equipment. Restructuring Related Costs —Restructuring related costs were $5,100 for the three months ended March 31, 2018 and related to professional fees and severance costs, resulting primarily from our publicly announced cost reduction, facility rationalization and strategic initiatives. See Note 9 for further discussion of our restructuring related costs. Goodwill —Goodwill is not amortized to earnings, but instead is reviewed for impairment at least annually at a reporting unit level, absent any indicators of impairment or when other actions require an impairment assessment (such as a change in reporting units). We perform our annual impairment assessment during the fourth quarter of each year based on balances as of October 1. We identify a potential impairment by comparing the fair value of the applicable reporting unit to its net book value, including goodwill. If the net book value exceeds the fair value of the reporting unit, we measure the impairment by comparing the carrying value of the reporting unit to its fair value. To determine the fair value of our reporting units and test for impairment, we utilize an income approach (discounted cash flow method) as we believe this is the most direct approach to incorporate the specific economic attributes and risk profiles of our reporting units into our valuation model. This is consistent with the methodology used to determine the fair value of our reporting units in previous years. We generally do not utilize a market approach given the lack of relevant information generated by market transactions involving comparable businesses. However, to the extent market indicators of fair value become available, we consider such market indicators in our discounted cash flow analysis and determination of fair value. See Note 7 for further discussion of our goodwill. Other Long-Lived Assets —We amortize our finite-lived intangible assets on a straight-line basis with lives ranging from 6 to 20 years, absent any indicators of impairment. We review tangible assets and finite-lived intangible assets for impairment when events or changes in circumstances indicate that the carrying amount may not be recoverable. If a recoverability assessment is required, the estimated future cash flow associated with the asset or asset group will be compared to their respective carrying amounts to determine if an impairment exists. See Note 7 for further discussion of our intangible assets. Earnings Per Share (“EPS”)— Basic EPS is calculated by dividing net income attributable to CB&I by the weighted average number of common shares outstanding for the period. Diluted EPS reflects the assumed conversion of dilutive securities, consisting of restricted shares, performance based shares (where performance criteria have been met), stock options and directors’ deferred-fee shares. See Note 4 for calculations associated with basic and diluted EPS. Cash Equivalents —Cash equivalents are considered to be highly liquid securities with original maturities of three months or less. Inventory —Inventory is recorded at the lower of cost and net realizable value, and cost is determined using the first-in-first-out or weighted-average cost method. The cost of inventory includes acquisition costs, production or conversion costs, and other costs incurred to bring the inventory to a current location and condition. Net realizable value is the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. An allowance for excess or inactive inventory is recorded based on an analysis that considers current inventory levels, historical usage patterns, estimates of future sales expectations and salvage value. See Note 6 for further discussion of our inventory. Foreign Currency —The nature of our business activities involves the management of various financial and market risks, including those related to changes in foreign currency exchange rates. The effects of translating financial statements of foreign operations into our reporting currency are recognized as a cumulative translation adjustment in accumulated other comprehensive income (loss) (“AOCI”), which is net of tax, where applicable. Foreign currency transactional and re-measurement exchange gains (losses) are included within cost of revenue and were not material for the three months ended March 31, 2018 and 2017 . Financial Instruments —We do not engage in currency speculation; however, we utilize foreign currency exchange rate derivatives on an ongoing basis to hedge against certain foreign currency related operating exposures. We generally seek hedge accounting treatment for contracts used to hedge operating exposures and designate them as cash flow hedges. Therefore, gains and losses, exclusive of credit risk and forward points (which represent the time value component of the fair value of our derivative positions), are included in AOCI until the associated underlying operating exposure impacts our earnings. Changes in the fair value of (i) credit risk and forward points, (ii) instruments deemed ineffective during the period, and (iii) instruments that we do not designate as cash flow hedges are recognized within cost of revenue. For those contracts designated as cash flow hedges, we document all relationships between the derivative instruments and associated hedged items, as well as our risk-management objectives and strategy for undertaking hedge transactions. This process includes linking all derivatives to specific firm commitments or highly-probable forecasted transactions. We continually assess, at inception and on an ongoing basis, the effectiveness of derivative instruments in offsetting changes in the cash flow of the designated hedged items. Hedge accounting designation is discontinued when (i) it is determined that the derivative is no longer highly effective in offsetting changes in the cash flow of the hedged item, including firm commitments or forecasted transactions, (ii) the derivative is sold, terminated, exercised, or expires, (iii) it is no longer probable that the forecasted transaction will occur, or (iv) we determine that designating the derivative as a hedging instrument is no longer appropriate. See Note 11 for further discussion of our financial instruments. Income Taxes — Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis using currently enacted income tax rates for the years in which the differences are expected to reverse. A valuation allowance (“VA”) is provided to offset any net deferred tax assets (“DTA(s)”) if, based on the available evidence, it is more likely than not that some or all of the DTAs will not be realized. The realization of our net DTAs depends upon our ability to generate sufficient future taxable income of the appropriate character and in the appropriate jurisdictions. At March 31, 2018 and December 31, 2017, we had a VA against our U.S. net operating loss DTAs, and our remaining U.S. and non-U.S. net DTAs, as we do not believe it is more likely than not that we will utilize our net DTAs. See our 2017 Form 10-K for further discussion of our VA assessments. Income tax and associated interest and penalty reserves, where applicable, are recorded in those instances where we consider it more likely than not that additional tax will be due in excess of amounts reflected in income tax returns filed worldwide, irrespective of whether or not we have received tax assessments. We continually review our exposure to additional income tax obligations and, as further information is known or events occur, changes in our tax and penalty reserves may be recorded within income tax expense and changes in interest reserves may be recorded in interest expense. Partnering Arrangements — In the ordinary course of business, we execute specific projects and conduct certain operations through joint venture, consortium and other collaborative arrangements (collectively referred to as “venture(s)”). We have various ownership interests in these ventures, with such ownership typically proportionate to our decision making and distribution rights. The ventures generally contract directly with the third party customer; however, services may be performed directly by the ventures, or may be performed by us, our partners, or a combination thereof. Venture net assets consist primarily of working capital and property and equipment, and assets may be restricted from being used to fund obligations outside of the venture. These ventures typically have limited third party debt or have debt that is non-recourse in nature. However, they may provide for capital calls to fund operations or require participants in the venture to provide additional financial support, including advance payment or retention letters of credit. Each venture is assessed at inception and on an ongoing basis as to whether it qualifies as a VIE under the consolidations guidance in ASC 810. A venture generally qualifies as a VIE when it (i) meets the definition of a legal entity, (ii) absorbs the operational risk of the projects being executed, creating a variable interest, and (iii) lacks sufficient capital investment from the partners, potentially resulting in the venture requiring additional subordinated financial support, if necessary, to finance its future activities. If at any time a venture qualifies as a VIE, we perform a qualitative assessment to determine whether we are the primary beneficiary of the VIE and, therefore, need to consolidate the VIE. We are the primary beneficiary if we have (i) the power to direct the economically significant activities of the VIE and (ii) the right to receive benefits from, and obligation to absorb losses of, the VIE. If the venture is a VIE and we are the primary beneficiary, or we otherwise have the ability to control the venture, we consolidate the venture. If we determine that we are not the primary beneficiary of the VIE, or only have the ability to significantly influence, rather than control the venture, we do not consolidate the venture. We account for unconsolidated ventures using either (i) proportionate consolidation for both the Balance Sheet and Statement of Operations, when we meet the applicable accounting criteria to do so, or (ii) utilize the equity method. See Note 8 for further discussion of our material partnering arrangements. New Revenue Recognition Standard —In May 2014, the FASB issued ASU 2014-09, which provides a single comprehensive accounting standard for revenue recognition for contracts with customers and supersedes current industry-specific guidance, including ASC 605-35. The new standard requires companies to recognize revenue when control of promised goods or services is transferred to customers at an amount that reflects the consideration to which the company expects to be entitled in exchange for the goods or services. The new model requires companies to identify contractual performance obligations and determine whether revenue should be recognized at a point in time or over time for each of these obligations. The new standard also significantly expands disclosure requirements regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. We adopted the new standard on January 1, 2018 (“Adoption Date”), using the modified retrospective method, which provides for a cumulative effect adjustment to beginning 2018 retained earnings for those uncompleted contracts impacted by the adoption of the new standard. The changes to the method and/or timing of our revenue recognition associated with our adoption of the new standard primarily relate to our third party pipe and steel fabrication and “non-generic” catalyst manufacturing contracts, which were previously recognized at a point in time upon shipment; however, under the new standard revenue is recognized over time utilizing the cost to cost measure of progress. In addition, we combined certain contracts that historically had been accounted for as separate contracts. Due to the low level of backlog at December 31, 2017 for our contracts impacted by the new standard, no adjustment to beginning 2018 retained earnings resulted from adoption of the new standard. Further, the difference in our results for the first quarter 2018 between application of the new standard on our contracts and what results would have been if such contracts had been reported using the accounting standards previously in effect for such contracts, was not material. Consistent with our adoption method, the comparative prior period information for 2017 has not been recast and continues to be reported using the previous accounting standards in effect for the period presented. Additionally, we have elected to utilize the modified retrospective transition practical expedient that allows us to evaluate the impact of contract modifications as of the Adoption Date rather than evaluating the impact of the modifications at the time they occurred prior to the Adoption Date. There was no material effect associated with the election of this practical expedient. See Note 3 for additional discussion of our revenue recognition accounting policies and expanded disclosures required by the new standard. Other New Accounting Standards —In February 2016, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2016-02, which requires the recognition of a right-of-use asset and a lease liability for most lease arrangements with a term greater than one year, and increases qualitative and quantitative disclosures regarding leasing transactions. The standard is effective for us in the first quarter 2019, although early adoption is permitted. Transition requires application of the new guidance at the beginning of the earliest comparative balance sheet period presented utilizing a modified retrospective approach. We are assessing the timing of adoption of the new standard and its potential impact on our Financial Statements. In December 2017, the SEC issued Staff Accounting Bulletin (“SAB”) 118 to address the application of U.S. GAAP in situations in which a registrant does not have the necessary information available, prepared, or analyzed (including computations) in reasonable detail to complete the accounting for certain income tax effects of the Tax Cuts and Jobs Act (the “Tax Reform Act”) which was signed into law on December 22, 2017. In March 2018, the FASB issued ASU 2018-05, which amended ASC 740 to incorporate the requirements of SAB 118. We recognized the provisional tax impacts of the Tax Reform Act in the fourth quarter 2017. During first quarter 2018, we did not receive any additional information regarding these provisional calculations. As a result, we continue to anticipate finalizing our analysis in connection with the completion of our tax return for 2017 to be filed in 2018. In January 2018, the FASB issued ASU 2018-02, which gives entities the option to reclassify to retained earnings the tax effects resulting from the Tax Reform Act related to items in AOCI that the FASB refers to as having been stranded in AOCI. The standard may be applied retrospectively to each period in the year of adoption. The standard will also require new disclosures regarding our accounting policy for releasing the tax effects in AOCI. The standard is effective for us in the first quarter 2019, although early adoption is permitted. We are assessing the timing of adoption of the new standard and its potential impact on our Financial Statements.

REVENUE RECOGNITION

REVENUE RECOGNITION	3 Months Ended
	Mar. 31, 2018
Revenue Recognition [Abstract]
REVENUE RECOGNITION	REVENUE RECOGNITION Contracts —Our revenue is primarily derived from long-term contracts with customers and we determine the appropriate accounting treatment for each contract at contract inception. Our contracts primarily relate to engineering, procurement and construction (“EPC”) services; engineering services; construction services; pipe and steel fabrication services; engineered and manufactured products; technology licensing; and catalyst supply. An EPC contract may also include technology licensing or fabrication services and our services may be provided between, or amongst, our reportable segments. Our contracts are awarded on a competitively bid and negotiated basis and the timing of revenue recognition may be impacted by the terms of such contracts. We use a range of contracting options, including cost-reimbursable, fixed-price and hybrid, which has both cost-reimbursable and fixed-price characteristics. Fixed-price contracts, and hybrid contracts with a more significant fixed-price component, tend to provide us with greater control over project schedule and the timing of when work is performed and costs are incurred, and accordingly, when revenue is recognized. Cost-reimbursable contracts, and hybrid contracts with a more significant cost-reimbursable component, generally provide our customers with greater influence over the timing of when we perform our work, and accordingly, such contracts often result in less predictability with respect to the timing of revenue recognition. Performance Obligations —A performance obligation is a promise in a contract to transfer a distinct good or service to the customer, and is the unit of account in ASC Topic 606. The transaction price of a contract is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. To the extent a contract is deemed to have multiple performance obligations, we allocate the transaction price of the contract to each performance obligation using our best estimate of the standalone selling price of each distinct good or service in the contract. In addition, certain contracts may be combined and deemed to be a single performance obligation. Our EPC contracts are generally deemed to be single performance obligations and our contracts with multiple performance obligations were not material as of March 31, 2018. • Performance Obligations Satisfied Over Time —Revenue for our contracts that satisfy the criteria for over time recognition is recognized as the work progresses. Revenue for contracts recognized over time include our EPC services; engineering services; construction services; pipe and steel fabrication services; engineered and manufactured products; technology licensing; and “non-generic” catalyst supply. We measure transfer of control of the performance obligation utilizing the cost-to-cost measure of progress, with cost of revenue including direct costs, such as materials and labor, and indirect costs that are attributable to contract activity. Under the cost-to-cost approach, the use of estimated costs to complete each performance obligation is a significant variable in the process of determining recognized revenue and is a significant factor in the accounting for such performance obligations. Significant estimates that impact the cost to complete each performance obligation are: costs of engineering, materials, components, equipment, labor and subcontracts; labor productivity; schedule durations, including subcontractor or supplier progress; contract disputes, including claims; achievement of contractual performance requirements; and contingency, among others. The cumulative impact of revisions in total cost estimates during the progress of work is reflected in the period in which these changes become known, including, to the extent required, the reversal of profit recognized in prior periods and the recognition of losses expected to be incurred on performance obligations in progress. Due to the various estimates inherent in our contract accounting, actual results could differ from those estimates, which could result in material changes to our Financial Statements and related disclosures. For the three months ended March 31, 2018 , approximately $1,701,200 of our revenue was subject to over time revenue recognition. • Performance Obligations Satisfied at a Point in Time —Revenue for our contracts that do not satisfy the criteria for over time recognition is recognized at a point in time. Revenue for contracts recognized at a point in time include our “generic” catalyst supply and certain manufactured products (which are recognized upon shipment) and certain non-engineering and non-construction services (which are recognized when the services are performed). For the three months ended March 31, 2018 , approximately $44,400 of our revenue was subject to point in time revenue recognition. Precontract costs are generally charged to cost of revenue as incurred, but in certain cases their recognition may be deferred if specific probability criteria are met. We had no significant deferred precontract costs at March 31, 2018 . Variable Consideration —Transaction price for our contracts may include variable consideration, which includes increases to transaction price for approved and unapproved change orders, claims and incentives, and reductions to transaction price for liquidated damages. Change orders, claims and incentives are generally not distinct from the existing contract due to the significant integration service provided in the context of the contract and are accounted for as a modification of the existing contract and performance obligation. We estimate variable consideration for a performance obligation at the most likely amount to which we expect to be entitled (or the most likely amount we expect to incur in the case of liquidated damages), utilizing estimation methods that best predict the amount of consideration to which we will be entitled (or will be incurred in the case of liquidated damages). We include variable consideration in the estimated transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur or when the uncertainty associated with the variable consideration is resolved. Our estimates of variable consideration and determination of whether to include estimated amounts in transaction price are based largely on an assessment of our anticipated performance and all information (historical, current and forecasted) that is reasonably available to us. The effect of variable consideration on the transaction price of a performance obligation is recognized as an adjustment to revenue on a cumulative catch-up basis. To the extent unapproved change orders and claims reflected in transaction price (or excluded from transaction price in the case of liquidated damages) are not resolved in our favor, or to the extent incentives reflected in transaction price are not earned, there could be reductions in, or reversals of, previously recognized revenue. See Note 16 for further discussion of our recorded unapproved change orders, claims and incentives. Accounts Receivable and Contract Balances —The timing of when we bill our customers is generally dependent upon advance billing terms, milestone billings based on the completion of certain phases of the work, or when services are provided or products are shipped. Projects with performance obligations recognized over time that have costs and estimated earnings recognized to date in excess of cumulative billings, are reported on our Balance Sheets as costs and estimated earnings in excess of billings (i.e. contract assets). Projects with performance obligations recognized over time that have cumulative billings in excess of costs and estimated earnings recognized to date, are reported on our Balance Sheets as billings in excess of costs and estimated earnings (i.e. contract liabilities). The net balances on our Balance Sheets are collectively referred to as Contracts in Progress, net, and the components of these balances at March 31, 2018 and December 31, 2017 were as follows: March 31, 2018 December 31, 2017 (1) Asset Liability Asset Liability Costs and estimated earnings on contracts in progress $ 7,237,037 $ 28,001,671 $ 7,267,316 $ 26,901,501 Billings on contracts in progress (6,844,448 ) (29,157,451 ) (6,951,572 ) (28,176,942 ) Contracts in progress, net $ 392,589 $ (1,155,780 ) $ 315,744 $ (1,275,441 ) (1) Balances as of December 31, 2017 have not been recast for the impact of the adoption of the new standard. During the three months ended March 31, 2018, we recognized revenue of approximately $688,100 that was included in the corresponding Contracts in Progress liability balance at December 31, 2017. Any uncollected billed amounts for our performance obligations recognized over time, including contract retentions, are recorded within accounts receivable. At March 31, 2018 and December 31, 2017 , accounts receivable included contract retentions of approximately $70,000 and $61,500 , respectively. Contract retentions due beyond one year were approximately $21,900 and $19,000 at March 31, 2018 and December 31, 2017 , respectively. Any uncollected billed amounts and unbilled receivables for our performance obligations recognized at a point in time are recorded within accounts receivable and were approximately $6,900 and $6,000 at March 31, 2018 and December 31, 2017, respectively. Our billed and unbilled revenue may be exposed to potential credit risk if our customers should encounter financial difficulties, and we maintain reserves for specifically-identified potential uncollectible receivables. At March 31, 2018 and December 31, 2017 , our allowances for doubtful accounts were not material. Backlog —Our remaining performance obligations (hereafter referred to as “backlog”) represent the unrecognized revenue value of our contract commitments. New awards represent the total expected revenue value of new contract commitments received during a given period, as well as scope growth on existing contract commitments. New awards and backlog include the entire award values for joint ventures we consolidate and our proportionate share of award values for joint ventures we proportionately consolidate. As the net results for our equity method joint ventures are recognized as equity earnings, their revenue is not presented in our Statements of Operations, and accordingly, are excluded from our new awards and backlog. Our new awards may vary significantly each reporting period based on the timing of our major new contract commitments and our backlog may fluctuate with currency movements. At March 31, 2018, we had backlog of $9,369,000 (excluding approximately $1,131,500 for our unconsolidated equity method joint ventures). Approximately 50% , 35% , and 15% of our March 31, 2018 backlog is anticipated to be recognized as revenue in 2018, 2019, and thereafter, respectively Effect of Adopting ASC Topic 606 —As discussed in Note 2, no adjustment to beginning 2018 retained earnings was recorded as a result of our adoption of ASC 606 due to changes in the methods and/or timing of our revenue recognition for our uncompleted contracts. Further, the difference in our results for the first quarter 2018 between application of the new standard on our contracts and what results would have been if such contracts had been reported using the accounting standards previously in effect for such contracts, was not material. Disaggregation of Revenue —The following table represents the disaggregation of our revenue by end-market (or “product line”) for the three months ended March 31, 2018 and 2017: Three Months Ended March 31, 2018 2017 LNG (including low temp and cryogenic) $ 674,848 $ 992,152 Petrochemical 538,364 376,419 Power 315,696 184,496 Refining 138,144 124,646 Gas processing 33,595 71,099 Other 44,972 78,540 Total revenue $ 1,745,619 $ 1,827,352 Changes in Project Estimates —See Note 16 for further discussion of our unapproved change orders, claims, incentives and other project matters, including impacts from changes in project estimates.

EARNINGS PER SHARE

EARNINGS PER SHARE	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE A reconciliation of weighted average basic shares outstanding to weighted average diluted shares outstanding and the computation of basic and diluted EPS are as follows: Three Months Ended March 31, 2018 2017 Net income from continuing operations attributable to CB&I (net of $764 and $26,837 of noncontrolling interests) $ 43,894 $ 15,574 Net income from discontinued operations attributable to CB&I (net of $0 and $413 of noncontrolling interests) — 9,081 Net income attributable to CB&I $ 43,894 $ 24,655 Weighted average shares outstanding—basic 102,333 100,451 Effect of restricted shares/performance based shares/stock options (1) 275 892 Effect of directors’ deferred-fee shares (1) 19 17 Weighted average shares outstanding—diluted 102,627 101,360 Net income attributable to CB&I per share (Basic): Continuing operations $ 0.43 $ 0.16 Discontinued operations — 0.09 Total $ 0.43 $ 0.25 Net income attributable to CB&I per share (Diluted): Continuing operations $ 0.43 $ 0.15 Discontinued operations — 0.09 Total $ 0.43 $ 0.24 (1) Antidilutive shares excluded from diluted EPS were not material for the three months ended March 31, 2018 and 2017 .

DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONS	3 Months Ended
	Mar. 31, 2018
Discontinued Operations and Disposal Groups [Abstract]
DISCONTINUED OPERATIONS	DISCONTINUED OPERATIONS As discussed in Note 2 , on June 30, 2017 we completed the sale of our Capital Services Operations to CSVC. Our Capital Services Operations provided comprehensive and integrated maintenance services, environmental engineering and remediation, construction services, program management, and disaster response and recovery services for private-sector customers and governments. We considered the Capital Services Operations to be a discontinued operation, and accordingly, its operating results for the three months ended March 31, 2017 are classified as a discontinued operation within our Statements of Operations. Cash flows of the Capital Services Operations for the three months ended March 31, 2017 are not reported separately within our Statements of Cash Flows. During the three months ended March 31, 2018, we paid approximately $24,600 to CSVC associated with the finalization of working capital adjustments required by the purchase agreement. The anticipated working capital payment was accrued on the closing date and included in our Balance Sheet as of December 31, 2017, and accordingly, there was no impact on our operating results due to the payment. Results of Operations —The results of our Capital Services Operations, which have been reflected within discontinued operations in our Statement of Operations for the three months ended March 31, 2017 , were as follows: Three Months Ended March 31, 2017 Revenue $ 552,947 Cost of revenue 518,687 Gross profit 34,260 Selling and administrative expense 13,038 Intangibles amortization 2,550 Other operating income (372 ) Income from operations 19,044 Interest expense (1) (6,863 ) Interest income 9 Income from operations before taxes 12,190 Income tax expense (2,696 ) Net income from discontinued operations 9,494 Net income from discontinued operations attributable to noncontrolling interests (413 ) Net income from discontinued operations attributable to CB&I $ 9,081 (1) Interest expense, including amortization of capitalized debt issuance costs, was allocated to the Capital Services Operations due to a requirement to use the proceeds from the transaction to repay our debt. The allocation of interest expense was based on the anticipated debt amounts to be repaid. Cash Flows —Cash flows for our Capital Services Operations for the three months ended March 31, 2017 were as follows: Three Months Ended March 31, 2017 Operating cash flows $ (17,544 ) Investing cash flows $ (844 )

INVENTORY

INVENTORY	3 Months Ended
	Mar. 31, 2018
Inventory Disclosure [Abstract]
INVENTORY	INVENTORY The components of inventory at March 31, 2018 and December 31, 2017 were as follows: March 31, December 31, Raw materials $ 57,626 $ 55,275 Work in process 22,233 15,652 Finished goods 33,119 30,646 Total $ 112,978 $ 101,573

GOODWILL AND OTHER INTANGIBLES

GOODWILL AND OTHER INTANGIBLES	3 Months Ended
	Mar. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLES	GOODWILL AND OTHER INTANGIBLES Goodwill At March 31, 2018 and December 31, 2017 , our goodwill balances were $2,838,836 and $2,836,582 , respectively, attributable to the excess of the purchase price over the fair value of net assets acquired in connection with our acquisitions. The change in goodwill for the three months ended March 31, 2018 is as follows: Total Balance at December 31, 2017 $ 2,836,582 Amortization of tax goodwill in excess of book goodwill (3,971 ) Foreign currency translation and other 6,225 Balance at March 31, 2018 (1) $ 2,838,836 (1) At March 31, 2018 , we had approximately $453,100 of cumulative impairment losses which were recorded in our Engineering & Construction operating group during 2015 related to the sale of our nuclear power construction business (our “Nuclear Operations”) on December 31, 2015. As discussed further in Note 2 , goodwill is not amortized to earnings, but instead is reviewed for impairment at least annually at a reporting unit level, absent any indicators of impairment or when other actions require an impairment assessment (such as a change in reporting units). We perform our annual impairment assessment during the fourth quarter of each year based on balances as of October 1. Reporting Units —At December 31, 2017 , we had the following four reporting units within our three operating groups: • Engineering & Construction —Our Engineering & Construction operating group represented a reporting unit. • Fabrication Services —Our Fabrication Services operating group included two reporting units: Engineered Products and Fabrication Services (excluding Engineered Products). • Technology —Our Technology operating group represented a reporting unit. During the first quarter 2018, we realigned our Fabrication Services and Technology operating groups to reflect the present management oversight of our operations. Our “Engineered Products Operations”, which was previously reported within our Fabrication Services operating group, is now reported within our Technology operating group. In connection therewith, our Engineered Products reporting unit, which was previously a reporting unit with our Fabrication Services operating group, became a reporting unit within our Technology operating group. Accordingly, at March 31, 2018 , we had the following four reporting units within our three operating groups: • Engineering & Construction —Our Engineering & Construction operating group represented a reporting unit. • Fabrication Services —Our Fabrication Services operating group represented a reporting unit. • Technology —Our Technology operating group included two reporting units: Engineered Products and Technology (excluding Engineered Products). Impairment Assessment —During the fourth quarter 2017, we performed a quantitative assessment of goodwill for the aforementioned reporting units. Based on these quantitative assessments, the fair value of each of the reporting units substantially exceeded (in excess of 50%) their respective net book values, and accordingly, no impairment charge was necessary as a result of our impairment assessments. Further, during the first quarter 2018, no indicators of impairment were identified for any of our reporting units. In addition, no impairment assessments were required in connection with the realignment of our operating groups because the Engineered Products reporting unit represented a separate reporting unit before and after the realignment. Other Intangible Assets The following table presents our acquired finite-lived intangible assets at March 31, 2018 and December 31, 2017 , including the March 31, 2018 weighted-average useful lives for each major intangible asset class and in total: March 31, 2018 December 31, 2017 Weighted Average Life Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Backlog and customer relationships 18 Years $ 99,086 $ (28,297 ) $ 99,086 $ (26,912 ) Process technologies 15 Years 267,520 (156,773 ) 265,742 (151,174 ) Tradenames 12 Years 27,561 (18,621 ) 27,479 (17,748 ) Total (1) 16 Years $ 394,167 $ (203,691 ) $ 392,307 $ (195,834 ) (1) The decrease in other intangibles, net during the three months ended March 31, 2018 primarily related to amortization expense of approximately $6,600 .

PARTNERING ARRANGEMENTS

PARTNERING ARRANGEMENTS	3 Months Ended
	Mar. 31, 2018
Equity Method Investments and Joint Ventures [Abstract]
PARTNERING ARRANGEMENTS	PARTNERING ARRANGEMENTS As discussed in Note 2 , we account for our unconsolidated ventures using either proportionate consolidation, when we meet the applicable accounting criteria to do so, or the equity method. Further, we consolidate any venture that is determined to be a VIE for which we are the primary beneficiary, or which we otherwise effectively control. Proportionately Consolidated Ventures —The following is a summary description of our significant joint ventures that have been accounted for using proportionate consolidation: • CB&I/Zachry— We have a venture with Zachry (CB&I— 50% / Zachry— 50% ) to perform EPC work for two liquefied natural gas (“LNG”) liquefaction trains in Freeport, Texas. Our proportionate share of the venture project value is approximately $2,700,000 . In addition, we have subcontract and risk sharing arrangements with Chiyoda to support our responsibilities to the venture. The costs of these arrangements are recorded in cost of revenue. • CB&I/Zachry/Chiyoda— We have a venture with Zachry and Chiyoda (CB&I— 33.3% / Zachry— 33.3% / Chiyoda— 33.3% ) to perform EPC work for an additional LNG liquefaction train at the aforementioned project site in Freeport, Texas. Our proportionate share of the venture project value is approximately $675,000 . • CB&I/Chiyoda— We have a venture with Chiyoda (CB&I— 50% / Chiyoda— 50% ) to perform EPC work for three LNG liquefaction trains in Hackberry, Louisiana. Our proportionate share of the venture project value is approximately $3,300,000 . The following table presents summarized balance sheet information for our share of our proportionately consolidated ventures: March 31, December 31, CB&I/Zachry Current assets (1) $ 157,950 $ 140,900 Non-current assets 427 1,096 Total assets $ 158,377 $ 141,996 Current liabilities $ 150,538 $ 171,953 CB&I/Zachry/Chiyoda Current assets (1) $ 102,379 $ 98,680 Non-current assets 923 1,129 Total assets $ 103,302 $ 99,809 Current liabilities $ 41,002 $ 68,556 CB&I/Chiyoda Current assets (1) $ 108,998 $ 92,767 Current liabilities $ 178,342 $ 150,126 (1) Our venture arrangements allow for excess working capital of the ventures to be advanced to the venture partners. Such advances are returned to the ventures for working capital needs as necessary. Accordingly, at a reporting period end a venture may have advances to its partners which are reflected as an advance receivable within current assets of the venture. At March 31, 2018 and December 31, 2017 , other current assets of our ventures on the Balance Sheets included approximately $80,600 and $138,900 , respectively, related to our proportionate share of advances from the ventures to our venture partners. At March 31, 2018 and December 31, 2017, other current liabilities on the Balance Sheets included approximately $79,000 and $138,600 , respectively, related to advances to CB&I from the ventures. Equity Method Ventures —The following is a summary description of our significant joint ventures which have been accounted for using the equity method: • CLG— We have a venture with Chevron (CB&I— 50% / Chevron— 50% ) which provides proprietary process technology licenses and associated engineering services and catalyst, primarily for the refining industry. As sufficient capital investments in CLG have been made by the venture partners, it does not qualify as a VIE. • NET Power— We have a venture with Exelon and 8 Rivers Capital (CB&I— 33.3% / Exelon— 33.3% / 8 Rivers Capital— 33.3% ) to commercialize a new natural gas power generation system that recovers the carbon dioxide produced during combustion. NET Power is building a first-of-its-kind demonstration plant which is being funded by contributions and services from the venture partners and other parties. We have determined the venture to be a VIE; however, we do not effectively control NET Power and therefore do not consolidate it. Our cash commitment for NET Power totals $57,300 , and at March 31, 2018 , we had made cumulative investments totaling approximately $47,300 . • CB&I/CTCI— We have a venture with CTCI (CB&I— 50% / CTCI— 50% ) to perform EPC work for a liquids ethylene cracker and associated units in Sohar, Oman. We have determined the venture to be a VIE; however, we do not effectively control the venture and therefore do not consolidate it. Our proportionate share of the venture project value is approximately $1,400,000 . Our venture arrangement allows for excess working capital of the venture to be advanced to the venture partners. Such advances are returned to the venture for working capital needs as necessary. At March 31, 2018 and December 31, 2017 , other current liabilities included approximately $95,000 and $173,600 , respectively, related to advances to CB&I from the venture. Consolidated Ventures— The following is a summary description of our significant joint ventures we consolidate due to their designation as VIEs for which we are the primary beneficiary: • CB&I/Kentz— We have a venture with Kentz (CB&I— 65% / Kentz— 35% ) to perform the structural, mechanical, piping, electrical and instrumentation work on, and to provide commissioning support for, three LNG trains, including associated utilities and a gas processing and compression plant, for the Gorgon LNG project, located on Barrow Island, Australia. Our venture project value is approximately $5,900,000 and the project was substantially complete as of December 31, 2017. • CB&I/Orano (formerly AREVA)— We have a venture with Orano (CB&I — 52% / Orano— 48% ) to design, license and construct a mixed oxide fuel fabrication facility in Aiken, South Carolina. Our venture project value is approximately $6,000,000 . The following table presents summarized balance sheet information for our consolidated ventures: March 31, December 31, CB&I/Kentz Current assets $ 24,653 $ 23,061 Non-current assets 69,840 71,023 Total assets $ 94,493 $ 94,084 Current liabilities $ 31,373 $ 30,082 CB&I/Orano Current assets $ 10,254 $ 32,621 Non-current assets 56,611 — Total assets $ 66,865 $ 32,621 Current liabilities $ 53,699 $ 57,820 All Other (1) Current assets $ 20,823 $ 26,551 Non-current assets 15,238 15,753 Total assets $ 36,061 $ 42,304 Current liabilities $ 6,743 $ 10,404 (1) Other ventures that we consolidate are not individually material to our financial results and are therefore aggregated as “All Other”. Other— The use of these ventures exposes us to a number of risks, including the risk that our partners may be unable or unwilling to provide their share of capital investment to fund the operations of the venture or complete their obligations to us, the venture, or ultimately, our customer. Differences in opinions or views among venture partners could also result in delayed decision-making or failure to agree on material issues, which could adversely affect the business and operations of the venture. In addition, agreement terms may subject us to joint and several liability for our venture partners, and the failure of our venture partners to perform their obligations could impose additional performance and financial obligations on us. The aforementioned factors could result in unanticipated costs to complete the projects, liquidated damages or contract disputes, including claims against our partners.

RESTRUCTURING RELATED COSTS

RESTRUCTURING RELATED COSTS	3 Months Ended
	Mar. 31, 2018
Restructuring and Related Activities [Abstract]
RESTRUCTURING RELATED COSTS	RESTRUCTURING RELATED COSTS During the three months ended March 31, 2018 , we recognized approximately $5,100 of restructuring related costs associated with professional fees and severance costs, resulting primarily from our publicly announced cost reduction, facility rationalization and strategic initiatives, as described below. Professional Fees —Professional fees totaled approximately $3,800 for the three months ended March 31, 2018, nearly all of which were paid during the period, and were related to consulting, legal, audit and advisory related services associated with our strategic initiatives, including costs associated with the anticipated Combination. See Note 2 for further discussion of the Combination. Severance Costs and Employee Related Obligations —Severance costs totaled approximately $1,300 for the three months ended March 31, 2018 , nearly all of which were paid during the period. At March 31, 2018 and December 31, 2017, we had a liability of approximately $4,000 and $8,500 , respectively, for the unpaid portion of severance costs (as well as incentive plan costs at December 31, 2017) accrued during 2017, which has been reflected within other current liabilities. At March 31, 2018 and December 31, 2017, we also had a liability of approximately $17,000 associated with union employee related obligations accrued during 2017 resulting from facility closures. The union employee related obligations are expected to be paid over an extended period of time and have been reflected within other non-current liabilities. Facility Consolidation Obligations —At March 31, 2018 and December 31, 2017, we had a facility realignment liability related to reserves recorded during 2017 for future operating lease expense for vacated leased facility capacity where we remain contractually obligated to a lessor. The liability for future lease obligations was reflected within other current and non-current liabilities, as applicable, based upon the anticipated timing of payments. The following table summarizes the changes in the facility consolidation liability during the three months ended March 31, 2018 : Total Balance at December 31, 2017 $ 15,606 Charges — Cash payments (2,101 ) Foreign exchange and other 673 Balance at March 31, 2018 (1) $ 14,178 (1) Cash payments for our existing obligations at March 31, 2018 are anticipated to be approximately $5,200 , $2,900 , $2,400 , $2,000 , $1,600 and $100 in 2018, 2019, 2020, 2021, 2022, and thereafter, respectively.

DEBT

DEBT	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
DEBT	DEBT Our outstanding debt at March 31, 2018 and December 31, 2017 was as follows: March 31, December 31, Current Revolving facilities and other short-term borrowings $ 1,388,151 $ 1,102,151 Current maturities of long-term debt 1,148,469 1,167,219 Less: unamortized debt issuance costs (3,111 ) (6,928 ) Current maturities of long-term debt, net of unamortized debt issuance costs 1,145,358 1,160,291 Current debt, net of unamortized debt issuance costs $ 2,533,509 $ 2,262,442 Long-Term Second Term Loan: $500,000 term loan (interest at LIBOR plus a floating margin) $ 421,996 $ 440,746 Senior Notes: $800,000 senior notes, series A-D (fixed interest ranging from 7.57% to 9.15%) 584,596 584,596 Second Senior Notes: $200,000 senior notes (fixed interest of 7.53%) 141,877 141,877 Less: current maturities of long-term debt (1,148,469 ) (1,167,219 ) Long-term debt, net of unamortized debt issuance costs $ — $ — Committed Facilities —We have a five -year, $1,150,000 committed revolving credit facility (the “Revolving Facility”) with Bank of America N.A. (“BofA”), as administrative agent, and BNP Paribas Securities Corp., BBVA Compass, Credit Agricole Corporate and Investment Bank (“Credit Agricole”) and TD Securities, each as syndication agents, which expires in October 2018. The Revolving Facility has a $100,000 total letter of credit sublimit. At March 31, 2018 , we had $847,402 and $71,891 of outstanding borrowings and letters of credit, respectively, under the facility (including $45 of financial letters of credit), providing $227,101 of available capacity, of which $28,109 was available for letters of credit based on our total letter of credit sublimit. We also have a five -year, $800,000 committed revolving credit facility (the “Second Revolving Facility”) with BofA, as administrative agent, and BNP Paribas Securities Corp., BBVA Compass, Credit Agricole and Bank of Tokyo Mitsubishi UFJ, each as syndication agents, which expires in July 2020. The Second Revolving Facility has a $100,000 total letter of credit sublimit. At March 31, 2018 , we had $540,749 of outstanding borrowings and $99,494 of outstanding letters of credit under the facility (including $2,705 of financial letters of credit), providing $157,129 of available capacity, of which $506 was available for letters of credit based on our total letter of credit sublimit. Maximum outstanding borrowings under our Revolving Facility and Second Revolving Facility (together, “Committed Facilities”) during the three months ended March 31, 2018 , were approximately $1,700,000 . We are assessed quarterly commitment fees on the unutilized portion of the facilities as well as letter of credit fees on outstanding letters of credit. Interest on borrowings is assessed at either prime plus 4.00% or LIBOR plus 5.00% . In addition, fees for financial and performance letters of credit are 5.00% and 3.50% , respectively. During the three months ended March 31, 2018 , our weighted average interest rate on borrowings under the Revolving Facility and Second Revolving Facility was approximately 6.89% and 8.02% , respectively, inclusive of the applicable floating margin. As a result of the 2017 amendments described below, our debt obligations under the Committed Facilities are required to be repaid in connection with the consummation of the Combination. The Committed Facilities have financial and restrictive covenants described further below. Uncommitted Facilities —We have various short-term, uncommitted letter of credit facilities (the “Uncommitted Facilities”) across several geographic regions, under which we had $1,599,404 of outstanding letters of credit as of March 31, 2018 . Term Loan —At March 31, 2018 , we had $421,996 outstanding under a five -year, $500,000 term loan (the “Term Loan”) with BofA as administrative agent. Interest and principal under the Term Loan is payable quarterly in arrears, and interest is assessed at either prime plus 4.00% or LIBOR plus 5.00% . During the three months ended March 31, 2018 , our weighted average interest rate on the Term Loan was approximately 7.10% , inclusive of the applicable floating margin. Future annual maturities for the Term Loan are $56,250 , $75,000 and $290,746 for 2018 , 2019 and 2020 , respectively. As a result of the 2017 amendments described below, our debt obligations under the Term Loan are required to be repaid in connection with the consummation of the Combination. The Term Loan has financial and restrictive covenants described further below. Senior Notes— We have a series of senior notes totaling $584,596 in aggregate principal amount outstanding as of March 31, 2018 (the “Senior Notes”). The Senior Notes include Series A through D and contained the following terms at March 31, 2018 : • Series A—Interest due semi-annually at a fixed rate of 9.15% , with principal of $104,653 due in August 2018 • Series B—Interest due semi-annually at a fixed rate of 7.57% , with principal of $165,784 due in December 2019 • Series C—Interest due semi-annually at a fixed rate of 8.15% , with principal of $195,219 due in December 2022 • Series D—Interest due semi-annually at a fixed rate of 8.30% , with principal of $118,940 due in December 2024 We also have senior notes totaling $141,877 in aggregate principal amount outstanding as of March 31, 2018 (the “Second Senior Notes”) with BofA as administrative agent. Interest is payable semi-annually at a fixed rate of 7.53% , with principal of $141,877 due in July 2025 . The Senior Notes and Second Senior Notes (together, the “Notes”) also include provisions relating to our credit profile, which if not maintained will result in an incremental annual cost of up to 1.50% of the outstanding balance under the Notes. Further, the Notes include provisions relating to our leverage, which if not maintained, could result in an incremental annual cost of up to 1.00% (depending on our leverage level) of the outstanding balance under the Notes, provided that the incremental annual cost related to our credit profile and leverage cannot exceed 2.00% per annum. Finally, the Notes are subject to a make-whole premium in connection with certain prepayment events. As a result of the 2017 amendments described below, our debt obligations under the Notes are required to be repaid in connection with the consummation of the Combination. The Notes have financial and restrictive covenants described further below. Compliance — As a result of noncompliance with certain financial covenants during 2017, and in connection with the decision to pursue the Combination, we entered into a series of amendments for our Committed Facilities, Term Loan and Notes (collectively, the “Senior Facilities”) during 2017. The amendments adjusted certain original and amended financial and restrictive covenants, introduced new financial and restrictive covenants, and waived noncompliance with certain covenants and other defaults and events of default. The amendments: • Require us to secure the Senior Facilities through the pledge of cash, accounts receivable, inventory, fixed assets, certain real property, and stock of subsidiaries, which resulted in substantially all of our assets, subject to customary exceptions, being pledged as collateral for our Senior Facilities. • Prohibit mergers and acquisitions (other than the Combination), open-market share repurchases and dividend payments and certain inter-company transactions. • Require us to repay portions of the Senior Facilities with the issuance of any unsecured debt that is subordinate (“Subordinated Debt”) to the Senior Facilities, the issuance of any equity securities, or the sale of any assets. • Provide for required minimum levels of trailing 12-month earnings before interest, taxes, depreciation and amortization (“EBITDA”) as follows: $500,000 at March 31, 2018, $500,000 at June 30, 2018, $550,000 at September 30, 2018, and $575,000 at December 31, 2018 and each quarter thereafter. Trailing 12-month EBITDA for purposes of determining compliance with the Minimum EBITDA covenant is adjusted to exclude: an agreed amount attributable to restructuring or integration charges during the third and fourth quarters of 2017 and an agreed amount attributable to charges on certain projects which occurred during 2017 (collectively, the “EBITDA Addbacks”). • Provide for a maximum leverage ratio of 1.75 (“Maximum Leverage Ratio”) and a minimum fixed charge ratio of 2.25 (“Minimum Fixed Charge Coverage Ratio”), but waive any noncompliance with the Maximum Leverage Ratio or Minimum Fixed Charge Coverage Ratio beginning on December 18, 2017 and ending on the earlier of (i) June 18, 2018 or (ii) the occurrence of certain Combination termination events (the “Covenant Relief Period”). Trailing 12-month EBITDA for purposes of determining compliance with the Maximum Leverage Ratio and consolidated net income for purposes of determining compliance with the Minimum Fixed Charge Coverage Ratio would be adjusted for the EBITDA Addbacks. • Extend the maturity of the Series A Senior Notes, from December 27, 2017 to August 31, 2018. • Requires us to maintain a minimum aggregate availability under our Committed Facilities, including borrowings and letters of credit, of $50,000 during the Covenant Relief Period, and $250,000 thereafter. • Limit the amount of certain of our funded indebtedness to $2,900,000 less the aggregate amount of all scheduled repayments and mandatory prepayments of such funded indebtedness, but for the duration of the Covenant Relief Period, increase the limit from $3,000,000 to $3,140,000 . • Provide for the: (i) filing of a joint proxy statement/prospectus (“Form S-4”) by February 15, 2018, (ii) filing of a solicitation/recommendation statement on Schedule 14D-9 as promptly as reasonably practicable following (but in any event by no later than 10 business days after) the commencement of the exchange offer related to the Combination, and (iii) duly calling and giving notice of a meeting of the Company’s shareholders as promptly as reasonably practicable after the Form S-4 is declared effective under the Securities Act of 1933, as amended (but in any event by no later than May 18, 2018) (collectively, the “Combination Milestones”). Each of the Combination Milestones was achieved during the first quarter 2018. • Provide for completion of the Combination by June 18, 2018 (the “Combination Closing Deadline”). • Provide for the mandatory repayment of the outstanding debt under the Senior Facilities on the day of the closing of the Combination, which in the case of the Notes, is to be at the price of the make-whole amount as modified by the amendments. At March 31, 2018, we had an accrual of approximately $27,700 within accrued liabilities related to the anticipated modified make-whole payment. • Provide for certain events of default in respect of the Combination, including: (i) termination of documentation related to the Combination, (ii) failure of the applicable proposals related to the Combination to be brought for a vote by the shareholders of the Company or McDermott, (iii) the failure of the shareholders of either McDermott or the Company to approve the applicable proposals related to the Combination at their respective shareholder meetings, subject to a seven day grace period, (iv) the supervisory board of directors of the Company changing its recommendation to the Company’s shareholders in respect of the Combination, or (v) the failure of certain financing commitments in respect of the Combination, subject to customary minimum thresholds. • Provide for certain other information and modified reporting rights, modifications to mandatory prepayment requirements, and consent rights of the holders of the outstanding Notes and administrative agents of the Bank Facilities as more fully set forth in the amendments. At March 31, 2018 , we were in compliance with our restrictive and financial covenants, with a trailing 12-month EBITDA of $615,000 , and aggregate availability under our Committed Facilities of at least $ 121,000 at all times during the three months ended March 31, 2018 . Based on our forecasted EBITDA and cash flows, we project future compliance with our financial covenants through the Combination Closing Deadline. Further, we have successfully achieved the various Combination Milestones required by our 2017 amendments, and believe it is probable we will complete the Combination by the Combination Closing Deadline. Although we do not project future loan compliance violations through the Combination Closing Deadline, due to the requirement for our debt obligations to be repaid in connection with the Combination, debt of approximately $966,100 , which by its terms is due beyond one year and would otherwise be shown as long-term, has been classified as current. Our plan to maintain compliance with our covenants, satisfy our debt obligations, and continue as a going concern is to complete the aforementioned Combination, with no further financing alternatives beyond the Combination. Absent this plan, we would be unable to satisfy our debt obligations, raising substantial doubt regarding our ability to continue as a going concern; however, the Combination alleviates the substantial doubt. Other —In addition to providing letters of credit, we also issue surety bonds in the ordinary course of business to support our contract performance. At March 31, 2018 , we had $339,069 of outstanding surety bonds in support of our projects. In addition, we had $404,597 of surety bonds maintained on behalf of our former Capital Services Operations, for which we have received an indemnity from CSVC. We also continue to maintain guarantees on behalf of our former Capital Services Operations in support of approximately $50,100 of backlog, for which we have also received an indemnity. Capitalized interest was insignificant for the three months ended March 31, 2018 and 2017 .

FINANCIAL INSTRUMENTS

FINANCIAL INSTRUMENTS	3 Months Ended
	Mar. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
FINANCIAL INSTRUMENTS	FINANCIAL INSTRUMENTS Derivatives Foreign Currency Exchange Rate Derivatives —At March 31, 2018 , the notional value of our outstanding forward contracts to hedge certain foreign exchange-related operating exposures was approximately $119,300 . These contracts vary in duration, maturing up to four years from period-end. We designate certain of these hedges as cash flow hedges and accordingly, changes in their fair value are recognized in AOCI until the associated underlying operating exposure impacts our earnings. Forward points, which are deemed to be an ineffective portion of the hedges, are recognized within cost of revenue and are not material. Financial Instruments Disclosures Fair Value —Financial instruments are required to be categorized within a valuation hierarchy based upon the lowest level of input that is significant to the fair value measurement. The three levels of the valuation hierarchy are as follows: • Level 1 —Fair value is based on quoted prices in active markets. • Level 2 —Fair value is based on internally developed models that use, as their basis, readily observable market parameters. Our derivative positions are classified within level 2 of the valuation hierarchy as they are valued using quoted market prices for similar assets and liabilities in active markets. These level 2 derivatives are valued utilizing an income approach, which discounts future cash flow based on current market expectations and adjusts for credit risk. • Level 3 —Fair value is based on internally developed models that use, as their basis, significant unobservable market parameters. We did not have any level 3 classifications at March 31, 2018 or December 31, 2017 . The following table presents the fair value of our foreign currency exchange rate derivatives and interest rate derivatives at March 31, 2018 and December 31, 2017 , respectively, by valuation hierarchy and balance sheet classification: March 31, 2018 December 31, 2017 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Derivative Assets (1) Other current assets $ — $ 1,665 $ — $ 1,665 $ — $ 1,671 $ — $ 1,671 Other non-current assets — 562 — 562 — 556 — 556 Total assets at fair value $ — $ 2,227 $ — $ 2,227 $ — $ 2,227 $ — $ 2,227 Derivative Liabilities Other current liabilities $ — $ (7,892 ) $ — $ (7,892 ) $ — $ (4,598 ) $ — $ (4,598 ) Other non-current liabilities — (183 ) — (183 ) — (187 ) — (187 ) Total liabilities at fair value $ — $ (8,075 ) $ — $ (8,075 ) $ — $ (4,785 ) $ — $ (4,785 ) (1) We are exposed to credit risk on our hedging instruments associated with potential counterparty non-performance, and the fair value of our derivatives reflects this credit risk. The total level 2 assets at fair value above represent the maximum loss that we would incur on our outstanding hedges if the applicable counterparties failed to perform according to the hedge contracts. To help mitigate counterparty credit risk, we transact only with counterparties that are rated as investment grade or higher and monitor all counterparties on a continuous basis. The carrying values of our cash and cash equivalents (primarily consisting of bank deposits), accounts receivable and accounts payable approximate their fair values because of the short-term nature of these instruments. At March 31, 2018 and December 31, 2017 , the fair value of our Second Term Loan, based upon the current market rates for debt with similar credit risk and maturities, approximated its carrying value as interest is based on LIBOR plus an applicable floating margin. At March 31, 2018 and December 31, 2017 , the fair values of our Senior Notes and Second Senior Notes, based upon the current market rates for debt with similar credit risk and maturities, approximated their carrying values due to their classification as current on our Balance Sheet. Derivatives Disclosures Fair Value —The following table presents the total fair value by underlying risk and balance sheet classification for derivatives designated as cash flow hedges and derivatives not designated as cash flow hedges at March 31, 2018 and December 31, 2017 : Other Current and Non-Current Assets Other Current and Non-Current Liabilities March 31, December 31, March 31, December 31, Derivatives designated as cash flow hedges Foreign currency $ 440 $ 385 $ (227 ) $ (140 ) Fair value $ 440 $ 385 $ (227 ) $ (140 ) Derivatives not designated as cash flow hedges Foreign currency $ 1,787 $ 1,842 $ (7,848 ) $ (4,645 ) Fair value $ 1,787 $ 1,842 $ (7,848 ) $ (4,645 ) Total fair value $ 2,227 $ 2,227 $ (8,075 ) $ (4,785 ) Master Netting Arrangements (“MNAs”) —Our derivatives are executed under International Swaps and Derivatives Association MNAs, which generally allow us and our counterparties to net settle, in a single net payable or receivable, obligations due on the same day, in the same currency and for the same type of derivative instrument. We have elected the option to record all derivatives on a gross basis in our Balance Sheet. The following table presents our derivative assets and liabilities at March 31, 2018 on a gross basis and a net settlement basis: Gross Gross Amounts Net Amounts Gross Amounts Not Offset on Net Amount Financial Cash Collateral Received Derivative Assets Foreign currency 2,227 — 2,227 (454 ) — 1,773 Total assets $ 2,227 $ — $ 2,227 $ (454 ) $ — $ 1,773 Derivative Liabilities Foreign currency (8,075 ) — (8,075 ) 454 — (7,621 ) Total liabilities $ (8,075 ) $ — $ (8,075 ) $ 454 $ — $ (7,621 ) AOCI/Other —The following table presents the total value, by underlying risk, recognized in other comprehensive income (“OCI”) and reclassified from AOCI to interest expense (interest rate derivatives) and cost of revenue (foreign currency derivatives) during the three months ended March 31, 2018 and 2017 for derivatives designated as cash flow hedges: Amount of Gain (Loss) on Effective Derivative Portion Recognized in OCI Reclassified from AOCI into Earnings (1) Three Months Ended March 31, Three Months Ended March 31, 2018 2017 2018 2017 Derivatives designated as cash flow hedges Interest rate $ — $ — $ — $ 49 Foreign currency (39 ) 682 (82 ) 124 Total $ (39 ) $ 682 $ (82 ) $ 173 (1) Net unrealized gains totaling approximately $44 are anticipated to be reclassified from AOCI into earnings during the next 12 months due to settlement of the associated underlying obligations. The following table presents the total value recognized in cost of revenue for the three months ended March 31, 2018 and 2017 for foreign currency derivatives not designated as cash flow hedges: Amount of Gain (Loss) Recognized in Earnings Three Months Ended March 31, 2018 2017 Derivatives not designated as cash flow hedges Foreign currency $ (13,153 ) $ (6,170 ) Total $ (13,153 ) $ (6,170 )

RETIREMENT BENEFITS

RETIREMENT BENEFITS	3 Months Ended
	Mar. 31, 2018
Retirement Benefits [Abstract]
RETIREMENT BENEFITS	RETIREMENT BENEFITS Our 2017 Annual Report disclosed anticipated 2018 defined benefit pension and other postretirement plan contributions of approximately $18,200 and $2,400 , respectively. The following table provides updated contribution information for these plans at March 31, 2018 : Pension Plans Other Postretirement Plans Contributions made through March 31, 2018 $ 8,052 $ 294 Contributions expected for the remainder of 2018 10,102 1,972 Total contributions expected for 2018 $ 18,154 $ 2,266 The following table provides a breakout of the components of net periodic benefit cost (income) associated with our defined benefit pension and other postretirement plans for the three months ended March 31, 2018 and 2017 : Three Months Ended March 31, Pension Plans 2018 2017 Service cost $ 3,076 $ 2,782 Interest cost 5,048 4,591 Expected return on plan assets (6,933 ) (5,786 ) Amortization of prior service credits (160 ) (150 ) Recognized net actuarial losses 1,494 1,498 Net periodic benefit cost $ 2,525 $ 2,935 Other Postretirement Plans Service cost $ 127 $ 171 Interest cost 296 342 Recognized net actuarial gains (722 ) (685 ) Net periodic benefit income $ (299 ) $ (172 )

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES General — We have been and may from time to time be named as a defendant in legal actions claiming damages in connection with engineering and construction projects, technology licenses, other services we provide, and other matters. These are typically claims that arise in the normal course of business, including employment-related claims and contractual disputes or claims for personal injury or property damages which occur in connection with services performed relating to project or construction sites. Contractual disputes normally involve claims relating to the timely completion of projects, performance of equipment or technologies, design or other engineering services or project construction services provided by us. We do not believe that any of our pending contractual, employment-related personal injury or property damage claims and disputes will have a material adverse effect on our results of operations, financial position or cash flow. See Note 16 for additional discussion of claims associated with our projects. Project Arbitration Matters —We are in arbitration (governed by the arbitration rules of the International Chamber of Commerce) with the customer for one of our previously completed large cost-reimbursable projects, in which the customer is alleging cost overruns and consequential damages on the project. We have a counterclaim against the customer for unpaid receivables. We believe all amounts incurred and billed on the project, including outstanding receivables of approximately $254,000 as of March 31, 2018 , are contractually due under the provisions of our contract and are recoverable. The receivables have been classified as a non-current asset on our Balance Sheet as we do not anticipate collection within the next year. We do not believe a risk of material loss is probable related to this matter, and accordingly, no amounts have been accrued. While it is possible that a loss may be incurred, we are unable to estimate the range of potential loss, if any. In addition, we are in arbitration (governed by the arbitration rules of the United Nations Commission on International Trade Law) with the customer for one of our previously completed consolidated joint venture projects, regarding differing interpretations of the contract related to up to approximately $175,000 of reimbursable billings. We dispute the customer’s interpretation of the contract and believe all amounts incurred and billed on the project, including outstanding receivables of approximately $40,000 as of March 31, 2018 , are contractually due under the provisions of our contract and are recoverable. The receivables have been classified as a non-current asset on our Balance Sheet as we do not anticipate collection within the next year. We do not believe a risk of material loss is probable related to this matter, and accordingly, no amounts have been accrued. While it is possible that a loss may be incurred, we are unable to estimate the range of potential loss, if any. Dispute Related to Sale of Nuclear Operations —On December 31, 2015, we sold our Nuclear Operations to Westinghouse Electric Company LLC (“WEC”). In connection with the transaction, a post-closing purchase price adjustment mechanism was negotiated between CB&I and WEC to account for any difference between target working capital and actual working capital as finally determined pursuant to the terms of the purchase agreement. On April 28, 2016, WEC delivered to us a purported closing statement that estimated closing working capital was negative $976,506 , which was $2,150,506 less than the target working capital amount. In contrast, we calculated closing working capital to be $1,601,805 , which was $427,805 greater than the target working capital amount. On July 21, 2016, we filed a complaint against WEC in the Court of Chancery in the State of Delaware seeking a declaration that WEC has no remedy for the vast majority of its claims, and we requested an injunction barring WEC from bringing such claims. On December 2, 2016, the Court of Chancery granted WEC’s motion for judgment on the pleadings and dismissed our complaint, stating that the dispute should follow the dispute resolution process set forth in the purchase agreement, which includes the use of an independent auditor to resolve the working capital dispute. We appealed that ruling to the Delaware Supreme Court. Due to WEC’s bankruptcy filing on March 29, 2017, all claim resolution proceedings were automatically stayed pursuant to the Bankruptcy Code. At the parties’ request, the Bankruptcy Court lifted the automatic stay to permit the appeal and dispute resolution process to continue. Oral argument before the Delaware Supreme Court was held on May 3, 2017, and on June 27, 2017, the Delaware Supreme Court overturned the decision of the Court of Chancery and instructed the Court of Chancery to issue an order enjoining WEC from submitting certain claims to the independent auditor. The parties continue to move forward with those matters still subject to the dispute resolution process and with the selection of a new independent auditor to replace the previous auditor, who had resigned. We do not believe a risk of material loss is probable related to this matter, and, accordingly, no amounts have been accrued. While it is possible that a loss may be incurred, we are unable to estimate the range of potential loss, if any. We believe the Delaware Supreme Court ruling significantly improved our position on this matter and intend to continue pursuing our rights under the purchase agreement. Shareholder Litigation Related to Planned Combination with McDermott — Five of our shareholders have filed separate lawsuits under the federal securities laws in the United States District Court for the Southern District of Texas challenging the accuracy of the disclosures made in the Form S-4 Registration Statement filed with the SEC on January 24, 2018 in connection with the Combination. The cases are captioned (i) McIntyre v. Chicago Bridge & Iron Company N.V., et al. , Case No. 4:18-cv-00273 (S.D. Tex.) (the “McIntyre Action”); (ii) The George Leon Family Trust v. Chicago Bridge & Iron Company N.V., et al. , Case No. 4:18-cv-00314 (S.D. Tex.) (the “Leon Action”); (iii) and Maresh v. Chicago Bridge & Iron Company N.V., et al. , Case No. 4:18-cv-00498 (S.D. Tex.) (the “Maresh Action”); (iv) Patel v Chicago Bridge & Iron Company, N.V. et al. , Case No. 4:18-cv-00550 (S.D. Texas) (the “Patel Action”); and (v) Judd v. Chicago Bridge & Iron Company N.V., et al. , Case No. 4:18-cv-00799 (S.D. Texas) (the “Judd Action”). The McIntyre Action, Leon Action, Maresh Action and Judd Action are asserted on behalf of putative classes of our public shareholders, while the Patel Action is brought only on behalf of the named plaintiff. All five actions allege violations of Section 14(a) and 20(a) of the Exchange Act and Rule 14a-9 promulgated thereunder based on various alleged omissions of material information from the Registration Statement. • The McIntyre Action names as defendants CB&I, each of CB&I’s directors individually, and certain current and former CB&I officers and employees individually. It seeks to enjoin the Combination, an award of costs and attorneys’ and expert fees, and damages. On February 7, 2018, the plaintiff in the McIntyre Action filed a motion for preliminary injunction seeking to enjoin CB&I from consummating the Combination. • The Leon Action names as defendants CB&I, certain subsidiaries of CB&I and McDermott that are parties to the Combination Agreement, each of CB&I’s directors individually, and McDermott as an alleged control person of CB&I. The Leon Action seeks to enjoin the Combination (or, in the alternative, rescission or an award for rescissory damages in the event the Combination is completed), to compel CB&I to issue a revised Registration Statement, and an award of costs and attorneys’ and expert fees. • The Maresh Action, which was originally filed in Delaware and voluntarily dismissed without prejudice on February 13, 2018, was re-filed in Texas and names as defendants CB&I, each of CB&I’s directors individually, and certain current and former CB&I officers and employees individually. The Maresh Action seeks to enjoin the Combination (or, in the alternative, an award for rescissory damages in the event the Combination is completed) and an award of costs and attorneys’ and expert fees. • The Patel Action names as defendants CB&I and each of CB&I’s directors individually and seeks to enjoin the Combination, an award of costs and attorneys’ and expert fees. • The Judd Action names as defendants CB&I and each of CB&I’s directors individually and seeks to enjoin the Combination or, in the alternative in the event the Combination is consummated, to recover rescissory damages from the directors individually, together with an award of costs and attorneys’ and expert fees. The Court consolidated all of the actions. The consolidation order appointed the plaintiff in the Leon Action and the plaintiff’s counsel in the Leon Action as the interim lead plaintiff and the interim lead plaintiff’s counsel, respectively. On March 9, 2018, the interim lead plaintiff filed a consolidated amended complaint. On March 16, 2018, defendants moved to dismiss the consolidated amended complaint and interim lead plaintiff filed a motion for preliminary injunction. On March 29, 2018, interim lead plaintiff withdrew its motion for a preliminary injunction. Motions for permanent lead plaintiff status were due on April 2, 2018, and only interim lead plaintiff filed such a motion. On April 5, 2018, interim lead plaintiff sought an extension of time to respond to defendants’ motion to dismiss until after such time as a permanent lead plaintiff is appointed. That motion was granted. We believe the actions are without merit and that there are substantial legal and factual defenses to the claims asserted. We intend to vigorously defend against the claims made in the actions. Asbestos Litigation —We are a defendant in numerous lawsuits wherein plaintiffs allege exposure to asbestos due to work we may have performed at various locations. We have never been a manufacturer, distributor or supplier of asbestos products. Over the past several decades and through March 31, 2018 , we have been named a defendant in lawsuits alleging exposure to asbestos involving approximately 6,200 plaintiffs and, of those claims, approximately 1,100 claims were pending and 5,100 have been closed through dismissals or settlements. Over the past several decades and through March 31, 2018 , the claims alleging exposure to asbestos that have been resolved have been dismissed or settled for an average settlement amount of approximately two thousand dollars per claim. We review each case on its own merits and make accruals based on the probability of loss and our estimates of the amount of liability and related expenses, if any. Although we have seen an increase in the number of recent filings, especially in one specific venue, we do not believe the increase or any unresolved asserted claims will have a material adverse effect on our future results of operations, financial position or cash flow, and at March 31, 2018 , we had approximately $8,300 accrued for liability and related expenses. With respect to unasserted asbestos claims, we cannot identify a population of potential claimants with sufficient certainty to determine the probability of a loss and to make a reasonable estimate of liability, if any. While we continue to pursue recovery for recognized and unrecognized contingent losses through insurance, indemnification arrangements or other sources, we are unable to quantify the amount, if any, that we may expect to recover because of the variability in coverage amounts, limitations and deductibles or the viability of carriers, with respect to our insurance policies for the years in question. Environmental Matters —Our operations are subject to extensive and changing U.S. federal, state and local laws and regulations, as well as the laws of other countries, that establish health and environmental quality standards. These standards, among others, relate to air and water pollutants and the management and disposal of hazardous substances and wastes. We are exposed to potential liability for personal injury or property damage caused by any release, spill, exposure or other accident involving such pollutants, substances or wastes. In connection with the historical operation of our facilities, including those associated with acquired operations, substances which currently are or might be considered hazardous were used or disposed of at some sites that will or may require us to make expenditures for remediation. In addition, we have agreed to indemnify parties from whom we have purchased or to whom we have sold facilities for certain environmental liabilities arising from acts occurring before the dates those facilities were transferred. We believe we are in compliance, in all material respects, with environmental laws and regulations and maintain insurance coverage to mitigate our exposure to environmental liabilities. We do not believe any environmental matters will have a material adverse effect on our future results of operations, financial position or cash flow. We do not anticipate we will incur material capital expenditures for environmental controls or for the investigation or remediation of environmental conditions during the remainder of 2018 or 2019 .

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME	3 Months Ended
	Mar. 31, 2018
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME	ACCUMULATED OTHER COMPREHENSIVE INCOME The following table presents changes in AOCI, net of tax, by component, during the three months ended March 31, 2018 : Currency (1) Unrealized Defined Benefit Total Balance at December 31, 2017 $ (183,434 ) $ 299 $ (133,373 ) $ (316,508 ) OCI before reclassifications 16,282 (124 ) (4,414 ) 11,744 Amounts reclassified from AOCI — 52 444 496 Net OCI 16,282 (72 ) (3,970 ) 12,240 Balance at March 31, 2018 $ (167,152 ) $ 227 $ (137,343 ) $ (304,268 ) (1) During the three months ended March 31, 2018 , the currency translation adjustment component of AOCI was favorably impacted by net movements in the British Pound and Euro exchange rates against the U.S. Dollar. The following table presents reclassification of AOCI into earnings, net of tax, for each component, during the three months ended March 31, 2018 : Amount Reclassified From AOCI Unrealized Fair Value Of Cash Flow Hedges (1) Foreign currency derivatives (cost of revenue) $ 82 Total before tax $ 82 Tax (30 ) Total net of tax $ 52 Defined Benefit Pension and Other Postretirement Plans (2) Amortization of prior service credits $ (160 ) Recognized net actuarial losses 772 Total before tax $ 612 Tax (168 ) Total net of tax $ 444 (1) See Note 11 for further discussion of our cash flow hedges, including the total value reclassified from AOCI to earnings. (2) See Note 12 for further discussion of our defined benefit and other postretirement plans, including the components of net periodic benefit cost.

EQUITY-BASED INCENTIVE PLANS AN

EQUITY-BASED INCENTIVE PLANS AND OTHER EQUITY ACTIVITY	3 Months Ended
	Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
EQUITY-BASED INCENTIVE PLANS AND OTHER EQUITY ACTIVITY	EQUITY-BASED INCENTIVE PLANS AND OTHER EQUITY ACTIVITY General —Under our equity-based incentive plans (our “Incentive Plans”), we can issue shares to employees and directors in the form of restricted stock units (“RSUs”), performance based shares (including those based upon financial or stock price performance) and stock options. Changes in common stock, APIC and treasury stock during the three months ended March 31, 2018 and 2017 primarily relate to activity associated with our Incentive Plans and share repurchases. Share Grants —During the three months ended March 31, 2018 , we granted 1,776 RSU related shares associated with our Incentive Plans with a weighted average grant-date fair value of $18.46 per share, which vest over a three year period. Share Issuances —During the three months ended March 31, 2018 , we had the following share issuances associated with our Incentive Plans and employee stock purchase plan (“ESPP”): Shares RSUs (issued upon vesting) 616 Stock options (issued upon exercise) 284 ESPP shares (issued upon sale) 123 Total shares issued (1) 1,023 (1) During the three months ended March 31, 2018 , there were no financial performance based shares issued based on the results of the underlying performance conditions. Stock-Based Compensation Expense —During the three months ended March 31, 2018 and 2017 , we recognized $9,137 and $10,247 , respectively (including $676 during the three months ended March 31, 2017 associated with our discontinued Capital Services Operations), of stock-based compensation expense, primarily within selling and administrative expense. We recognize forfeitures as they occur, rather than estimating expected forfeitures. Share Repurchases —During the three months ended March 31, 2018 , we repurchased 181 shares for $3,207 (an average price of $17.72 ) for taxes withheld on taxable share distributions.

UNAPPROVED CHANGE ORDERS, CLAIM

UNAPPROVED CHANGE ORDERS, CLAIMS, INCENTIVES AND OTHER PROJECT MATTERS	3 Months Ended
	Mar. 31, 2018
Contractors [Abstract]
UNAPPROVED CHANGE ORDERS, CLAIMS, INCENTIVES AND OTHER PROJECT MATTERS	UNAPPROVED CHANGE ORDERS, CLAIMS, INCENTIVES, AND OTHER PROJECT MATTERS Unapproved Change Orders, Claims and Incentives —We have unapproved change orders and claims (collectively, “Claims”) and incentives included in project price for consolidated and proportionately consolidated projects within our Engineering & Construction and Fabrication Services operating groups. At March 31, 2018 and December 31, 2017 , our pro-rata share of Claims included in project price totaled approximately $229,800 and $227,200 , respectively, for projects in both operating groups. Our Claims at March 31, 2018 are primarily related to a completed project and our U.S. LNG export facility project in Freeport, Texas. The Claims are primarily associated with fabrication activities and schedule related delays (including force majeure weather events for one of the projects) and related prolongation costs. Approximately $101,400 of the Claim amounts at March 31, 2018 are subject to arbitration or dispute resolution proceedings that are progressing, and the remainder are subject to ongoing commercial discussions. Further, approximately $203,600 of the Claim amounts had been recognized as revenue on a cumulative POC basis through March 31, 2018 . Of the recognized Claim amounts at March 31, 2018 , approximately $15,300 had been paid by the respective customers and the remainder has been reflected within cost and estimated earnings in excess of billings on our Balance Sheet. At March 31, 2018 and December 31, 2017 , we also had incentives included in project price of approximately $76,800 and $77,000 , respectively, for projects within both operating groups. Our incentives at March 31, 2018 are primarily related to our U.S. gas turbine power project in the Northeast and our U.S. LNG export facility project in Hackberry, Louisiana. Approximately $64,300 of such amounts had been recognized as revenue on a cumulative POC basis through March 31, 2018 and has been reflected within cost and estimated earnings in excess of billings on our Balance Sheet. The aforementioned amounts recorded in project price and recognized as revenue reflect our best estimates of recovery; however, the ultimate resolution and amounts received could differ from these estimates and could have a material adverse effect on our results of operations, financial position and cash flow. See Note 13 for further discussion of outstanding receivables related to one of our completed large cost-reimbursable projects and one of our completed consolidated joint venture projects. Westinghouse Bankruptcy —On March 29, 2017, Westinghouse filed voluntary petitions to reorganize under Chapter 11 of the U.S. Bankruptcy Code (“Westinghouse Bankruptcy”). At March 31, 2018 and December 31, 2017 , we had approximately $42,000 and $30,000 , respectively, of recorded pre-petition accounts receivable amounts due from Westinghouse. The increase in our recorded receivables during the first quarter 2018 was due to a third party offer to purchase the receivables. We currently do not believe the Westinghouse Bankruptcy will impact the realizability of the recorded receivable amounts. Project Changes in Estimates —Backlog for each of our operating groups generally consists of several hundred contracts and our results may be impacted by changes in estimated project margins. For the three months ended March 31, 2018 , individual projects with significant changes in estimated margins did not have a material net impact on our income from operations. For the three months ended March 31, 2017, significant changes in estimated margins on three projects within our Engineering & Construction operating group resulted in a decrease to our income from operations of approximately $167,000 (approximately $143,000 for our U.S. gas turbine power projects in the Midwest and Northeast (“Two Gas Projects”) and approximately $24,000 for our U.S. LNG export facility project in Hackberry, Louisiana). The Two Gas Projects were impacted by cost increases due to lower than anticipated labor productivity and extensions of schedule, and the project in Hackberry was impacted by the net effects of increased fabrication costs, and craft labor, subcontractor and indirect costs associated with an extension of schedule, partly offset by the benefit of an increase in project price for claims on the project (which were resolved in the fourth quarter 2017). In addition, changes in estimated margins on a large consolidated joint venture project and a separate cost reimbursable project within our Engineering & Construction operating group resulted in an increase to our income from operations of approximately $103,000 (both benefiting from changes in estimated recoveries on the projects). Individual projects with significant changes in estimated margins for our remaining backlog did not have a material net impact on our income from operations. Two Gas Projects At March 31, 2018 , our U.S. gas turbine power project in the Midwest within our Engineering & Construction operating group was in a loss position. The project was over 99% complete at March 31, 2018 , and we have submitted a letter of “substantial completion” to the customer for acceptance. If the project incurs schedule liquidated damages due to our inability to reach a favorable commercial resolution on such matters, the project would experience further losses. At March 31, 2018, our U.S. gas turbine power project in the Northeast within our Engineering & Construction operating group was in a loss position. The project was approximately 84% complete and had a reserve for estimated losses of approximately $60,000 at March 31, 2018 , and is forecasted to be completed in the fourth quarter 2018 (consistent with our estimates as of December 31, 2017). Our current forecast for the project anticipates productivity levels that are consistent with our overall historical experience on the project and improved progress (due in part to anticipated improvement in weather conditions as the project moves out of the winter months), and actions to reduce our schedule related indirect costs. If future direct and subcontract labor productivity differ from our current estimates, we are unable to achieve our progress estimates, our schedule is extended, or we do not achieve our schedule related incentives, the project would experience further losses. Two LNG Projects At March 31, 2018 , our U.S. LNG export facility project in Hackberry, Louisiana, within our Engineering & Construction operating group was in a loss position. The project was approximately 84% complete and had a reserve for estimated losses of approximately $13,000 at March 31, 2018 , and is forecasted to be completed in the fourth quarter 2019 (consistent with our estimates as of December 31, 2017). Our current forecast for the project anticipates improvement in productivity from our overall historical experience on the project (as we anticipate improved construction performance for each subsequent LNG train) and actions to significantly reduce our schedule related indirect costs. If future direct and subcontract labor productivity differ from our current estimates, we are unable to achieve our progress estimates, our schedules are extended, we do not achieve our schedule related incentives, or we are unable to reduce our schedule related costs to the levels anticipated, the project would experience further losses. During the second half of 2017 our U.S. LNG export facility project in Freeport, Texas, within our Engineering & Construction operating group was impacted by Hurricane Harvey. The direct impacts of Hurricane Harvey included the cost of demobilization and remobilization and damaged pipe and other materials. These direct impacts were included in our forecasts for the project during 2017 and were partially offset by an increase in project price for claims and anticipated insurance recoveries on the project. We are continuing to evaluate and estimate the indirect impacts of the Hurricane, including potential impacts to productivity and prolongation costs, and the impact of owner decisions to replace or refurbish damaged pipe and materials. We anticipate providing the owner an estimate of the indirect impacts on the project in the second quarter 2018. Such impacts have not been included in our forecasts, and although such impacts could be significant, we believe any costs incurred as a result of Hurricane Harvey (subject to unallowable costs which we have accounted for) are recoverable under the contractual provisions of our contract, including force majeure. Our current forecast for the project anticipates improvement in productivity from our overall historical experience on the project (as we anticipate improved construction performance for each subsequent LNG train) and actions to significantly reduce our schedule related indirect costs. If future direct and subcontract labor productivity differ from our current estimates, we are unable to achieve our progress estimates, our schedules are extended, we are unable to reduce our schedule related costs to the levels anticipated, we are unable to fully recover the direct and indirect costs associated with the impacts of Hurricane Harvey, or the project incurs schedule liquidated damages due to our inability to reach a favorable legal or commercial resolution on such matters, the project would experience further decreases in estimated margins.

SEGMENT INFORMATION

SEGMENT INFORMATION	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION Our management structure and internal and public segment reporting are aligned based upon the services offered by our three operating groups, which represent our reportable segments: Engineering & Construction; Fabrication Services; and Technology. Our chief operating decision maker evaluates the performance of our operating groups based on revenue and income from operations. Each operating group’s income from operations reflects corporate costs, allocated based primarily upon revenue. Intersegment revenue is netted against the revenue of the segment receiving the intersegment services. For the three months ended March 31, 2018 and 2017 , intersegment revenue totaled approximately $69,100 and $141,400 , respectively. Intersegment revenue for these periods primarily related to services provided by our Fabrication Services operating group to our Engineering & Construction operating group. During the first quarter 2018, we realigned our Fabrication Services and Technology operating groups to reflect the present management oversight of our operations. Our “Engineered Products Operations”, which was previously reported within our Fabrication Services operating group, is now reported within our Technology operating group. The segment information for 2017 has been recast to conform to the 2018 presentation. The following table presents total revenue and income from operations by reportable segment for the three months ended March 31, 2018 and 2017 : Three Months Ended March 31, 2018 2017 Revenue Engineering & Construction $ 1,365,395 $ 1,280,753 Fabrication Services 262,653 422,677 Technology 117,571 123,922 Total revenue $ 1,745,619 $ 1,827,352 Income From Operations Engineering & Construction $ 54,817 $ 5,414 Fabrication Services 25,592 33,497 Technology 32,398 40,077 Total operating groups $ 112,807 $ 78,988 Restructuring related costs (5,110 ) — Total income from operations $ 107,697 $ 78,988 The following table presents backlog and total assets by reportable segment at March 31, 2018 and December 31, 2017 : March 31, 2018 December 31, 2017 Backlog Engineering & Construction $ 6,813,855 $ 7,675,662 Fabrication Services 1,584,708 1,532,592 Technology 970,438 947,568 Total backlog $ 9,369,001 $ 10,155,822 Assets Engineering & Construction $ 3,276,772 $ 3,142,224 Fabrication Services 1,606,157 1,607,419 Technology 1,137,644 1,221,939 Total assets $ 6,020,573 $ 5,971,582

SIGNIFICANT ACCOUNTING POLICI28

SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Basis of Accounting	The accompanying unaudited interim Condensed Consolidated Financial Statements (“Financial Statements”) have been prepared in accordance with the rules and regulations of the United States (“U.S.”) Securities and Exchange Commission (the “SEC”) and accounting principles generally accepted in the U.S. (“U.S. GAAP”).
Consolidation	These Financial Statements reflect all wholly-owned subsidiaries and those entities which we are required to consolidate. See the “Partnering Arrangements” section of this footnote for further discussion of our consolidation policy for those entities that are not wholly-owned. Intercompany balances and transactions are eliminated in consolidation.
Discontinued Operations	Discontinued Operations —On June 30, 2017, we completed the sale of our “Capital Services Operations” (primarily comprised of our former Capital Services reportable segment) to CSVC Acquisition Corp (“CSVC”). We considered the Capital Services Operations to be a discontinued operation, and accordingly, its operating results for the three months ended March 31, 2017 are classified as a discontinued operation within our Condensed Consolidated Statements of Operations (the “Statement(s) of Operations”). Cash flows of the Capital Services Operations for the three months ended March 31, 2017 are not reported separately within our Condensed Consolidated Statements of Cash Flows (the “Statement(s) of Cash Flows”). Unless otherwise noted, the values presented throughout the notes to our Financial Statements relate to our continuing operations. See Note 5 for further discussion of our discontinued operations.
Use of Estimates	Use of Estimates —The preparation of our Financial Statements in conformity with U.S. GAAP requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenue and expenses and related disclosures of contingent assets and liabilities. We believe the most significant estimates and judgments are associated with (i) revenue recognition for our contracts, including estimating costs to complete each contract and the recognition of incentive fees and unapproved change orders and claims; (ii) fair value and recoverability assessments that must be periodically performed with respect to long-lived tangible assets, goodwill and other intangible assets; (iii) valuation of deferred tax assets and financial instruments; (iv) the determination of liabilities related to self-insurance programs and income taxes; and (v) consolidation determinations with respect to our partnering arrangements. If the underlying estimates and assumptions upon which our Financial Statements are based change in the future, actual amounts may differ from those included in the Financial Statements.
Other Operating Expense (Income), Net	Other Operating (Income) Expense, Net — Other operating (income) expense, net generally represents (gains) losses associated with the sale or disposition of property and equipment.
Goodwill and Other Long-Lived Assets	Goodwill —Goodwill is not amortized to earnings, but instead is reviewed for impairment at least annually at a reporting unit level, absent any indicators of impairment or when other actions require an impairment assessment (such as a change in reporting units). We perform our annual impairment assessment during the fourth quarter of each year based on balances as of October 1. We identify a potential impairment by comparing the fair value of the applicable reporting unit to its net book value, including goodwill. If the net book value exceeds the fair value of the reporting unit, we measure the impairment by comparing the carrying value of the reporting unit to its fair value. To determine the fair value of our reporting units and test for impairment, we utilize an income approach (discounted cash flow method) as we believe this is the most direct approach to incorporate the specific economic attributes and risk profiles of our reporting units into our valuation model. This is consistent with the methodology used to determine the fair value of our reporting units in previous years. We generally do not utilize a market approach given the lack of relevant information generated by market transactions involving comparable businesses. However, to the extent market indicators of fair value become available, we consider such market indicators in our discounted cash flow analysis and determination of fair value. See Note 7 for further discussion of our goodwill. Other Long-Lived Assets —We amortize our finite-lived intangible assets on a straight-line basis with lives ranging from 6 to 20 years, absent any indicators of impairment. We review tangible assets and finite-lived intangible assets for impairment when events or changes in circumstances indicate that the carrying amount may not be recoverable. If a recoverability assessment is required, the estimated future cash flow associated with the asset or asset group will be compared to their respective carrying amounts to determine if an impairment exists.
Earnings Per Share ("EPS")	Earnings Per Share (“EPS”)— Basic EPS is calculated by dividing net income attributable to CB&I by the weighted average number of common shares outstanding for the period. Diluted EPS reflects the assumed conversion of dilutive securities, consisting of restricted shares, performance based shares (where performance criteria have been met), stock options and directors’ deferred-fee shares.
Cash Equivalents	Cash Equivalents —Cash equivalents are considered to be highly liquid securities with original maturities of three months or less.
Inventory	Inventory —Inventory is recorded at the lower of cost and net realizable value, and cost is determined using the first-in-first-out or weighted-average cost method. The cost of inventory includes acquisition costs, production or conversion costs, and other costs incurred to bring the inventory to a current location and condition. Net realizable value is the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. An allowance for excess or inactive inventory is recorded based on an analysis that considers current inventory levels, historical usage patterns, estimates of future sales expectations and salvage value.
Foreign Currency	Foreign Currency —The nature of our business activities involves the management of various financial and market risks, including those related to changes in foreign currency exchange rates. The effects of translating financial statements of foreign operations into our reporting currency are recognized as a cumulative translation adjustment in accumulated other comprehensive income (loss) (“AOCI”), which is net of tax, where applicable. Foreign currency transactional and re-measurement exchange gains (losses) are included within cost of revenue and were not material for the three months ended March 31, 2018 and 2017 .
Financial Instruments	Financial Instruments —We do not engage in currency speculation; however, we utilize foreign currency exchange rate derivatives on an ongoing basis to hedge against certain foreign currency related operating exposures. We generally seek hedge accounting treatment for contracts used to hedge operating exposures and designate them as cash flow hedges. Therefore, gains and losses, exclusive of credit risk and forward points (which represent the time value component of the fair value of our derivative positions), are included in AOCI until the associated underlying operating exposure impacts our earnings. Changes in the fair value of (i) credit risk and forward points, (ii) instruments deemed ineffective during the period, and (iii) instruments that we do not designate as cash flow hedges are recognized within cost of revenue. For those contracts designated as cash flow hedges, we document all relationships between the derivative instruments and associated hedged items, as well as our risk-management objectives and strategy for undertaking hedge transactions. This process includes linking all derivatives to specific firm commitments or highly-probable forecasted transactions. We continually assess, at inception and on an ongoing basis, the effectiveness of derivative instruments in offsetting changes in the cash flow of the designated hedged items. Hedge accounting designation is discontinued when (i) it is determined that the derivative is no longer highly effective in offsetting changes in the cash flow of the hedged item, including firm commitments or forecasted transactions, (ii) the derivative is sold, terminated, exercised, or expires, (iii) it is no longer probable that the forecasted transaction will occur, or (iv) we determine that designating the derivative as a hedging instrument is no longer appropriate.
Income Taxes	Income Taxes — Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis using currently enacted income tax rates for the years in which the differences are expected to reverse. A valuation allowance (“VA”) is provided to offset any net deferred tax assets (“DTA(s)”) if, based on the available evidence, it is more likely than not that some or all of the DTAs will not be realized. The realization of our net DTAs depends upon our ability to generate sufficient future taxable income of the appropriate character and in the appropriate jurisdictions. At March 31, 2018 and December 31, 2017, we had a VA against our U.S. net operating loss DTAs, and our remaining U.S. and non-U.S. net DTAs, as we do not believe it is more likely than not that we will utilize our net DTAs. See our 2017 Form 10-K for further discussion of our VA assessments. Income tax and associated interest and penalty reserves, where applicable, are recorded in those instances where we consider it more likely than not that additional tax will be due in excess of amounts reflected in income tax returns filed worldwide, irrespective of whether or not we have received tax assessments. We continually review our exposure to additional income tax obligations and, as further information is known or events occur, changes in our tax and penalty reserves may be recorded within income tax expense and changes in interest reserves may be recorded in interest expense.
Partnering Arrangements	Partnering Arrangements — In the ordinary course of business, we execute specific projects and conduct certain operations through joint venture, consortium and other collaborative arrangements (collectively referred to as “venture(s)”). We have various ownership interests in these ventures, with such ownership typically proportionate to our decision making and distribution rights. The ventures generally contract directly with the third party customer; however, services may be performed directly by the ventures, or may be performed by us, our partners, or a combination thereof. Venture net assets consist primarily of working capital and property and equipment, and assets may be restricted from being used to fund obligations outside of the venture. These ventures typically have limited third party debt or have debt that is non-recourse in nature. However, they may provide for capital calls to fund operations or require participants in the venture to provide additional financial support, including advance payment or retention letters of credit. Each venture is assessed at inception and on an ongoing basis as to whether it qualifies as a VIE under the consolidations guidance in ASC 810. A venture generally qualifies as a VIE when it (i) meets the definition of a legal entity, (ii) absorbs the operational risk of the projects being executed, creating a variable interest, and (iii) lacks sufficient capital investment from the partners, potentially resulting in the venture requiring additional subordinated financial support, if necessary, to finance its future activities. If at any time a venture qualifies as a VIE, we perform a qualitative assessment to determine whether we are the primary beneficiary of the VIE and, therefore, need to consolidate the VIE. We are the primary beneficiary if we have (i) the power to direct the economically significant activities of the VIE and (ii) the right to receive benefits from, and obligation to absorb losses of, the VIE. If the venture is a VIE and we are the primary beneficiary, or we otherwise have the ability to control the venture, we consolidate the venture. If we determine that we are not the primary beneficiary of the VIE, or only have the ability to significantly influence, rather than control the venture, we do not consolidate the venture. We account for unconsolidated ventures using either (i) proportionate consolidation for both the Balance Sheet and Statement of Operations, when we meet the applicable accounting criteria to do so, or (ii) utilize the equity method.
New Accounting Standards	New Revenue Recognition Standard —In May 2014, the FASB issued ASU 2014-09, which provides a single comprehensive accounting standard for revenue recognition for contracts with customers and supersedes current industry-specific guidance, including ASC 605-35. The new standard requires companies to recognize revenue when control of promised goods or services is transferred to customers at an amount that reflects the consideration to which the company expects to be entitled in exchange for the goods or services. The new model requires companies to identify contractual performance obligations and determine whether revenue should be recognized at a point in time or over time for each of these obligations. The new standard also significantly expands disclosure requirements regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. We adopted the new standard on January 1, 2018 (“Adoption Date”), using the modified retrospective method, which provides for a cumulative effect adjustment to beginning 2018 retained earnings for those uncompleted contracts impacted by the adoption of the new standard. The changes to the method and/or timing of our revenue recognition associated with our adoption of the new standard primarily relate to our third party pipe and steel fabrication and “non-generic” catalyst manufacturing contracts, which were previously recognized at a point in time upon shipment; however, under the new standard revenue is recognized over time utilizing the cost to cost measure of progress. In addition, we combined certain contracts that historically had been accounted for as separate contracts. Due to the low level of backlog at December 31, 2017 for our contracts impacted by the new standard, no adjustment to beginning 2018 retained earnings resulted from adoption of the new standard. Further, the difference in our results for the first quarter 2018 between application of the new standard on our contracts and what results would have been if such contracts had been reported using the accounting standards previously in effect for such contracts, was not material. Consistent with our adoption method, the comparative prior period information for 2017 has not been recast and continues to be reported using the previous accounting standards in effect for the period presented. Additionally, we have elected to utilize the modified retrospective transition practical expedient that allows us to evaluate the impact of contract modifications as of the Adoption Date rather than evaluating the impact of the modifications at the time they occurred prior to the Adoption Date. There was no material effect associated with the election of this practical expedient.

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	3 Months Ended
	Mar. 31, 2018
Revenue Recognition [Abstract]
Costs in Excess of Billings and Billings in Excess of Costs	The net balances on our Balance Sheets are collectively referred to as Contracts in Progress, net, and the components of these balances at March 31, 2018 and December 31, 2017 were as follows: March 31, 2018 December 31, 2017 (1) Asset Liability Asset Liability Costs and estimated earnings on contracts in progress $ 7,237,037 $ 28,001,671 $ 7,267,316 $ 26,901,501 Billings on contracts in progress (6,844,448 ) (29,157,451 ) (6,951,572 ) (28,176,942 ) Contracts in progress, net $ 392,589 $ (1,155,780 ) $ 315,744 $ (1,275,441 ) (1) Balances as of December 31, 2017 have not been recast for the impact of the adoption of the new standard.
Disaggregation of Revenue	The following table represents the disaggregation of our revenue by end-market (or “product line”) for the three months ended March 31, 2018 and 2017: Three Months Ended March 31, 2018 2017 LNG (including low temp and cryogenic) $ 674,848 $ 992,152 Petrochemical 538,364 376,419 Power 315,696 184,496 Refining 138,144 124,646 Gas processing 33,595 71,099 Other 44,972 78,540 Total revenue $ 1,745,619 $ 1,827,352

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Reconciliation of Weighted Average Basic Shares Outstanding to Diluted Shares Outstanding and Computation of Basic and Diluted EPS	A reconciliation of weighted average basic shares outstanding to weighted average diluted shares outstanding and the computation of basic and diluted EPS are as follows: Three Months Ended March 31, 2018 2017 Net income from continuing operations attributable to CB&I (net of $764 and $26,837 of noncontrolling interests) $ 43,894 $ 15,574 Net income from discontinued operations attributable to CB&I (net of $0 and $413 of noncontrolling interests) — 9,081 Net income attributable to CB&I $ 43,894 $ 24,655 Weighted average shares outstanding—basic 102,333 100,451 Effect of restricted shares/performance based shares/stock options (1) 275 892 Effect of directors’ deferred-fee shares (1) 19 17 Weighted average shares outstanding—diluted 102,627 101,360 Net income attributable to CB&I per share (Basic): Continuing operations $ 0.43 $ 0.16 Discontinued operations — 0.09 Total $ 0.43 $ 0.25 Net income attributable to CB&I per share (Diluted): Continuing operations $ 0.43 $ 0.15 Discontinued operations — 0.09 Total $ 0.43 $ 0.24 (1) Antidilutive shares excluded from diluted EPS were not material for the three months ended March 31, 2018 and 2017 .

DISCONTINUED OPERATIONS (Tables

DISCONTINUED OPERATIONS (Tables)	3 Months Ended
	Mar. 31, 2018
Discontinued Operations and Disposal Groups [Abstract]
Disposal Group, Including Discontinued Operations, Results of Operations	The results of our Capital Services Operations, which have been reflected within discontinued operations in our Statement of Operations for the three months ended March 31, 2017 , were as follows: Three Months Ended March 31, 2017 Revenue $ 552,947 Cost of revenue 518,687 Gross profit 34,260 Selling and administrative expense 13,038 Intangibles amortization 2,550 Other operating income (372 ) Income from operations 19,044 Interest expense (1) (6,863 ) Interest income 9 Income from operations before taxes 12,190 Income tax expense (2,696 ) Net income from discontinued operations 9,494 Net income from discontinued operations attributable to noncontrolling interests (413 ) Net income from discontinued operations attributable to CB&I $ 9,081 (1) Interest expense, including amortization of capitalized debt issuance costs, was allocated to the Capital Services Operations due to a requirement to use the proceeds from the transaction to repay our debt. The allocation of interest expense was based on the anticipated debt amounts to be repaid.
Disposal Group, Including Discontinued Operations, Cash Flows	Cash flows for our Capital Services Operations for the three months ended March 31, 2017 were as follows: Three Months Ended March 31, 2017 Operating cash flows $ (17,544 ) Investing cash flows $ (844 )

INVENTORY (Tables)

INVENTORY (Tables)	3 Months Ended
	Mar. 31, 2018
Inventory Disclosure [Abstract]
Components of Inventory	The components of inventory at March 31, 2018 and December 31, 2017 were as follows: March 31, December 31, Raw materials $ 57,626 $ 55,275 Work in process 22,233 15,652 Finished goods 33,119 30,646 Total $ 112,978 $ 101,573

GOODWILL AND OTHER INTANGIBLES

GOODWILL AND OTHER INTANGIBLES (Tables)	3 Months Ended
	Mar. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The change in goodwill for the three months ended March 31, 2018 is as follows: Total Balance at December 31, 2017 $ 2,836,582 Amortization of tax goodwill in excess of book goodwill (3,971 ) Foreign currency translation and other 6,225 Balance at March 31, 2018 (1) $ 2,838,836 (1) At March 31, 2018 , we had approximately $453,100 of cumulative impairment losses which were recorded in our Engineering & Construction operating group during 2015 related to the sale of our nuclear power construction business (our “Nuclear Operations”) on December 31, 2015.
Summary of Acquired Finite-Lived Intangible Assets, Including Weighted-Average Useful Lives	The following table presents our acquired finite-lived intangible assets at March 31, 2018 and December 31, 2017 , including the March 31, 2018 weighted-average useful lives for each major intangible asset class and in total: March 31, 2018 December 31, 2017 Weighted Average Life Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Backlog and customer relationships 18 Years $ 99,086 $ (28,297 ) $ 99,086 $ (26,912 ) Process technologies 15 Years 267,520 (156,773 ) 265,742 (151,174 ) Tradenames 12 Years 27,561 (18,621 ) 27,479 (17,748 ) Total (1) 16 Years $ 394,167 $ (203,691 ) $ 392,307 $ (195,834 ) (1) The decrease in other intangibles, net during the three months ended March 31, 2018 primarily related to amortization expense of approximately $6,600 .

PARTNERING ARRANGEMENTS (Tables

PARTNERING ARRANGEMENTS (Tables)	3 Months Ended
	Mar. 31, 2018
Equity Method Investments and Joint Ventures [Abstract]
Balance Sheet Information of Proportionately Consolidated Variable Interest Entities	The following table presents summarized balance sheet information for our share of our proportionately consolidated ventures: March 31, December 31, CB&I/Zachry Current assets (1) $ 157,950 $ 140,900 Non-current assets 427 1,096 Total assets $ 158,377 $ 141,996 Current liabilities $ 150,538 $ 171,953 CB&I/Zachry/Chiyoda Current assets (1) $ 102,379 $ 98,680 Non-current assets 923 1,129 Total assets $ 103,302 $ 99,809 Current liabilities $ 41,002 $ 68,556 CB&I/Chiyoda Current assets (1) $ 108,998 $ 92,767 Current liabilities $ 178,342 $ 150,126 (1) Our venture arrangements allow for excess working capital of the ventures to be advanced to the venture partners. Such advances are returned to the ventures for working capital needs as necessary. Accordingly, at a reporting period end a venture may have advances to its partners which are reflected as an advance receivable within current assets of the venture. At March 31, 2018 and December 31, 2017 , other current assets of our ventures on the Balance Sheets included approximately $80,600 and $138,900 , respectively, related to our proportionate share of advances from the ventures to our venture partners. At March 31, 2018 and December 31, 2017, other current liabilities on the Balance Sheets included approximately $79,000 and $138,600 , respectively, related to advances to CB&I from the ventures.	[1]
Summarized Balance Sheet Information of Variable Interest Entities	The following table presents summarized balance sheet information for our consolidated ventures: March 31, December 31, CB&I/Kentz Current assets $ 24,653 $ 23,061 Non-current assets 69,840 71,023 Total assets $ 94,493 $ 94,084 Current liabilities $ 31,373 $ 30,082 CB&I/Orano Current assets $ 10,254 $ 32,621 Non-current assets 56,611 — Total assets $ 66,865 $ 32,621 Current liabilities $ 53,699 $ 57,820 All Other (1) Current assets $ 20,823 $ 26,551 Non-current assets 15,238 15,753 Total assets $ 36,061 $ 42,304 Current liabilities $ 6,743 $ 10,404 (1) Other ventures that we consolidate are not individually material to our financial results and are therefore aggregated as “All Other”.
[1]	Our venture arrangements allow for excess working capital of the ventures to be advanced to the venture partners. Such advances are returned to the ventures for working capital needs as necessary. Accordingly, at a reporting period end a venture may have advances to its partners which are reflected as an advance receivable within current assets of the venture. At March 31, 2018 and December 31, 2017, other current assets of our ventures on the Balance Sheets included approximately $80,600 and $138,900, respectively, related to our proportionate share of advances from the ventures to our venture partners.

RESTRUCTURING RELATED COSTS (Ta

RESTRUCTURING RELATED COSTS (Tables)	3 Months Ended
	Mar. 31, 2018
Restructuring and Related Activities [Abstract]
Schedule of restructuring costs	The following table summarizes the changes in the facility consolidation liability during the three months ended March 31, 2018 : Total Balance at December 31, 2017 $ 15,606 Charges — Cash payments (2,101 ) Foreign exchange and other 673 Balance at March 31, 2018 (1) $ 14,178 (1) Cash payments for our existing obligations at March 31, 2018 are anticipated to be approximately $5,200 , $2,900 , $2,400 , $2,000 , $1,600 and $100 in 2018, 2019, 2020, 2021, 2022, and thereafter, respectively.

DEBT (Tables)

DEBT (Tables)	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Summary of Outstanding Debt	Our outstanding debt at March 31, 2018 and December 31, 2017 was as follows: March 31, December 31, Current Revolving facilities and other short-term borrowings $ 1,388,151 $ 1,102,151 Current maturities of long-term debt 1,148,469 1,167,219 Less: unamortized debt issuance costs (3,111 ) (6,928 ) Current maturities of long-term debt, net of unamortized debt issuance costs 1,145,358 1,160,291 Current debt, net of unamortized debt issuance costs $ 2,533,509 $ 2,262,442 Long-Term Second Term Loan: $500,000 term loan (interest at LIBOR plus a floating margin) $ 421,996 $ 440,746 Senior Notes: $800,000 senior notes, series A-D (fixed interest ranging from 7.57% to 9.15%) 584,596 584,596 Second Senior Notes: $200,000 senior notes (fixed interest of 7.53%) 141,877 141,877 Less: current maturities of long-term debt (1,148,469 ) (1,167,219 ) Long-term debt, net of unamortized debt issuance costs $ — $ —

FINANCIAL INSTRUMENTS (Tables)

FINANCIAL INSTRUMENTS (Tables)	3 Months Ended
	Mar. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Financial Instruments Carried at Fair Value	The following table presents the fair value of our foreign currency exchange rate derivatives and interest rate derivatives at March 31, 2018 and December 31, 2017 , respectively, by valuation hierarchy and balance sheet classification: March 31, 2018 December 31, 2017 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Derivative Assets (1) Other current assets $ — $ 1,665 $ — $ 1,665 $ — $ 1,671 $ — $ 1,671 Other non-current assets — 562 — 562 — 556 — 556 Total assets at fair value $ — $ 2,227 $ — $ 2,227 $ — $ 2,227 $ — $ 2,227 Derivative Liabilities Other current liabilities $ — $ (7,892 ) $ — $ (7,892 ) $ — $ (4,598 ) $ — $ (4,598 ) Other non-current liabilities — (183 ) — (183 ) — (187 ) — (187 ) Total liabilities at fair value $ — $ (8,075 ) $ — $ (8,075 ) $ — $ (4,785 ) $ — $ (4,785 ) (1) We are exposed to credit risk on our hedging instruments associated with potential counterparty non-performance, and the fair value of our derivatives reflects this credit risk. The total level 2 assets at fair value above represent the maximum loss that we would incur on our outstanding hedges if the applicable counterparties failed to perform according to the hedge contracts. To help mitigate counterparty credit risk, we transact only with counterparties that are rated as investment grade or higher and monitor all counterparties on a continuous basis.
Total Fair Value by Underlying Risk and Balance Sheet Classification	The following table presents the total fair value by underlying risk and balance sheet classification for derivatives designated as cash flow hedges and derivatives not designated as cash flow hedges at March 31, 2018 and December 31, 2017 : Other Current and Non-Current Assets Other Current and Non-Current Liabilities March 31, December 31, March 31, December 31, Derivatives designated as cash flow hedges Foreign currency $ 440 $ 385 $ (227 ) $ (140 ) Fair value $ 440 $ 385 $ (227 ) $ (140 ) Derivatives not designated as cash flow hedges Foreign currency $ 1,787 $ 1,842 $ (7,848 ) $ (4,645 ) Fair value $ 1,787 $ 1,842 $ (7,848 ) $ (4,645 ) Total fair value $ 2,227 $ 2,227 $ (8,075 ) $ (4,785 )
Schedule Of Derivative Assets And Liabilities On Gross And Net Settlement Basis Table	The following table presents our derivative assets and liabilities at March 31, 2018 on a gross basis and a net settlement basis: Gross Gross Amounts Net Amounts Gross Amounts Not Offset on Net Amount Financial Cash Collateral Received Derivative Assets Foreign currency 2,227 — 2,227 (454 ) — 1,773 Total assets $ 2,227 $ — $ 2,227 $ (454 ) $ — $ 1,773 Derivative Liabilities Foreign currency (8,075 ) — (8,075 ) 454 — (7,621 ) Total liabilities $ (8,075 ) $ — $ (8,075 ) $ 454 $ — $ (7,621 )
Total Value, by Underlying Risk, Recognized in Other Comprehensive Income and Reclassified from Accumulated Other Comprehensive Income to Interest Expense and Cost of Revenue	The following table presents the total value, by underlying risk, recognized in other comprehensive income (“OCI”) and reclassified from AOCI to interest expense (interest rate derivatives) and cost of revenue (foreign currency derivatives) during the three months ended March 31, 2018 and 2017 for derivatives designated as cash flow hedges: Amount of Gain (Loss) on Effective Derivative Portion Recognized in OCI Reclassified from AOCI into Earnings (1) Three Months Ended March 31, Three Months Ended March 31, 2018 2017 2018 2017 Derivatives designated as cash flow hedges Interest rate $ — $ — $ — $ 49 Foreign currency (39 ) 682 (82 ) 124 Total $ (39 ) $ 682 $ (82 ) $ 173 (1) Net unrealized gains totaling approximately $44 are anticipated to be reclassified from AOCI into earnings during the next 12 months due to settlement of the associated underlying obligations.
Total Value Recognized in Cost of Revenue for Derivatives which Do Not Seek Hedge Accounting Treatment, by Underlying Risk	The following table presents the total value recognized in cost of revenue for the three months ended March 31, 2018 and 2017 for foreign currency derivatives not designated as cash flow hedges: Amount of Gain (Loss) Recognized in Earnings Three Months Ended March 31, 2018 2017 Derivatives not designated as cash flow hedges Foreign currency $ (13,153 ) $ (6,170 ) Total $ (13,153 ) $ (6,170 )

RETIREMENT BENEFITS (Tables)

RETIREMENT BENEFITS (Tables)	3 Months Ended
	Mar. 31, 2018
Retirement Benefits [Abstract]
Contribution Information for Defined Benefit and Other Postretirement Plans	The following table provides updated contribution information for these plans at March 31, 2018 : Pension Plans Other Postretirement Plans Contributions made through March 31, 2018 $ 8,052 $ 294 Contributions expected for the remainder of 2018 10,102 1,972 Total contributions expected for 2018 $ 18,154 $ 2,266
Components of Net Periodic Benefit Cost	The following table provides a breakout of the components of net periodic benefit cost (income) associated with our defined benefit pension and other postretirement plans for the three months ended March 31, 2018 and 2017 : Three Months Ended March 31, Pension Plans 2018 2017 Service cost $ 3,076 $ 2,782 Interest cost 5,048 4,591 Expected return on plan assets (6,933 ) (5,786 ) Amortization of prior service credits (160 ) (150 ) Recognized net actuarial losses 1,494 1,498 Net periodic benefit cost $ 2,525 $ 2,935 Other Postretirement Plans Service cost $ 127 $ 171 Interest cost 296 342 Recognized net actuarial gains (722 ) (685 ) Net periodic benefit income $ (299 ) $ (172 )

ACCUMULATED OTHER COMPREHENSI39

ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables)	3 Months Ended
	Mar. 31, 2018
Equity [Abstract]
Changes in AOCI Balances by Component	The following table presents changes in AOCI, net of tax, by component, during the three months ended March 31, 2018 : Currency (1) Unrealized Defined Benefit Total Balance at December 31, 2017 $ (183,434 ) $ 299 $ (133,373 ) $ (316,508 ) OCI before reclassifications 16,282 (124 ) (4,414 ) 11,744 Amounts reclassified from AOCI — 52 444 496 Net OCI 16,282 (72 ) (3,970 ) 12,240 Balance at March 31, 2018 $ (167,152 ) $ 227 $ (137,343 ) $ (304,268 ) (1) During the three months ended March 31, 2018 , the currency translation adjustment component of AOCI was favorably impacted by net movements in the British Pound and Euro exchange rates against the U.S. Dollar.
Significant Items Reclassified From AOCI Into Earnings	The following table presents reclassification of AOCI into earnings, net of tax, for each component, during the three months ended March 31, 2018 : Amount Reclassified From AOCI Unrealized Fair Value Of Cash Flow Hedges (1) Foreign currency derivatives (cost of revenue) $ 82 Total before tax $ 82 Tax (30 ) Total net of tax $ 52 Defined Benefit Pension and Other Postretirement Plans (2) Amortization of prior service credits $ (160 ) Recognized net actuarial losses 772 Total before tax $ 612 Tax (168 ) Total net of tax $ 444 (1) See Note 11 for further discussion of our cash flow hedges, including the total value reclassified from AOCI to earnings. (2) See Note 12 for further discussion of our defined benefit and other postretirement plans, including the components of net periodic benefit cost.

EQUITY-BASED INCENTIVE PLANS 40

EQUITY-BASED INCENTIVE PLANS AND OTHER EQUITY ACTIVITY (Tables)	3 Months Ended
	Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Incentive Plans and Employee Stock Purchase Plan	During the three months ended March 31, 2018 , we had the following share issuances associated with our Incentive Plans and employee stock purchase plan (“ESPP”): Shares RSUs (issued upon vesting) 616 Stock options (issued upon exercise) 284 ESPP shares (issued upon sale) 123 Total shares issued (1) 1,023 (1) During the three months ended March 31, 2018 , there were no financial performance based shares issued based on the results of the underlying performance conditions.

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Total Revenue, Income, and Assets from Operations by Reportable Segments	The following table presents total revenue and income from operations by reportable segment for the three months ended March 31, 2018 and 2017 : Three Months Ended March 31, 2018 2017 Revenue Engineering & Construction $ 1,365,395 $ 1,280,753 Fabrication Services 262,653 422,677 Technology 117,571 123,922 Total revenue $ 1,745,619 $ 1,827,352 Income From Operations Engineering & Construction $ 54,817 $ 5,414 Fabrication Services 25,592 33,497 Technology 32,398 40,077 Total operating groups $ 112,807 $ 78,988 Restructuring related costs (5,110 ) — Total income from operations $ 107,697 $ 78,988 The following table presents backlog and total assets by reportable segment at March 31, 2018 and December 31, 2017 : March 31, 2018 December 31, 2017 Backlog Engineering & Construction $ 6,813,855 $ 7,675,662 Fabrication Services 1,584,708 1,532,592 Technology 970,438 947,568 Total backlog $ 9,369,001 $ 10,155,822 Assets Engineering & Construction $ 3,276,772 $ 3,142,224 Fabrication Services 1,606,157 1,607,419 Technology 1,137,644 1,221,939 Total assets $ 6,020,573 $ 5,971,582

ORGANIZATION AND NATURE OF OP42

ORGANIZATION AND NATURE OF OPERATIONS (Details)	3 Months Ended
	Mar. 31, 2018segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Year founded	1,889
Number of operating segments	3

SIGNIFICANT ACCOUNTING POLICI43

SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Details) - USD ($) $ in Thousands	Dec. 18, 2017	Mar. 31, 2018	Mar. 31, 2017
Significant Accounting Policies [Line Items]
Restructuring related costs		$ 5,110	$ 0
Minimum
Significant Accounting Policies [Line Items]
Finite-lived identifiable intangible assets, estimated useful lives (in years)		6 years
Maximum
Significant Accounting Policies [Line Items]
Finite-lived identifiable intangible assets, estimated useful lives (in years)		20 years
McDermott
Significant Accounting Policies [Line Items]
Conversion ratio (in shares)	2.47221
Stock split conversion ratio (in shares)	0.82407
Chicago Bridge & Iron Company Shareholders | McDermott
Significant Accounting Policies [Line Items]
Percentage of ownership after combination	47.00%
McDermott | McDermott
Significant Accounting Policies [Line Items]
Percentage of ownership after combination	53.00%

REVENUE RECOGNITION (Details)

REVENUE RECOGNITION (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue	$ 1,745,619	$ 1,827,352
Revenue recognized previously included in contract in progress liability			$ 688,100
Contract receivable retentions, beyond one year	21,900		19,000
Uncollected billed amounts and unbilled receivable	6,900		6,000
Backlog	9,369,001		10,155,822
Award values	1,131,500
Accounts Receivable
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract receivable retentions	70,000		$ 61,500
Over time revenue recognition
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue	1,701,200
Point in time revenue recognition
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue	$ 44,400

REVENUE RECOGNITION - Schedule

REVENUE RECOGNITION - Schedule of Contracts in Progress (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Contracts In Progress [Line Items]
Contracts in progress, net, asset	$ 392,589	$ 315,744
Billings in excess of costs and estimated earnings	(1,155,780)	(1,275,441)
Asset
Contracts In Progress [Line Items]
Costs and estimated earnings on contracts in progress	7,237,037	7,267,316	[1]
Billings on contracts in progress	(6,844,448)	(6,951,572)	[1]
Liability
Contracts In Progress [Line Items]
Costs and estimated earnings on contracts in progress	28,001,671	26,901,501	[1]
Billings on contracts in progress	(29,157,451)	(28,176,942)	[1]
Contracts in progress, net, asset
Contracts In Progress [Line Items]
Contracts in progress, net, asset	392,589	315,744	[1]
Contracts in progress, net, liability
Contracts In Progress [Line Items]
Billings in excess of costs and estimated earnings	$ (1,155,780)	$ (1,275,441)	[1]
[1]	(1) Balances as of December 31, 2017 have not been recast for the impact of the adoption of the new standard.

REVENUE RECOGNITION - Schedul46

REVENUE RECOGNITION - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Disaggregation of Revenue [Line Items]
Revenue	$ 1,745,619	$ 1,827,352
LNG (including low temp and cryogenic)
Disaggregation of Revenue [Line Items]
Revenue	674,848	992,152
Petrochemical
Disaggregation of Revenue [Line Items]
Revenue	538,364	376,419
Power
Disaggregation of Revenue [Line Items]
Revenue	315,696	184,496
Refining
Disaggregation of Revenue [Line Items]
Revenue	138,144	124,646
Gas processing
Disaggregation of Revenue [Line Items]
Revenue	33,595	71,099
Other
Disaggregation of Revenue [Line Items]
Revenue	$ 44,972	$ 78,540

REVENUE RECOGNITION Backlog (De

REVENUE RECOGNITION Backlog (Details)	3 Months Ended
	Mar. 31, 2018
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Backlog anticipated to be recognized as revenue	100.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Backlog anticipated to be recognized as revenue	0.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Backlog anticipated to be recognized as revenue	0.00%

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017
Earnings Per Share [Abstract]
Net income from continuing operations attributable to CB&I (net of $764 and $26,837 of noncontrolling interests)		$ 43,894	$ 15,574
Net income from discontinued operations attributable to CB&I (net of $0 and $413 of noncontrolling interests)		0	9,081
Net income attributable to CB&I		$ 43,894	$ 24,655
Weighted average shares outstanding—basic		102,333	100,451
Effect of restricted shares/performance based shares/stock options	[1]	275	892
Effect of directors’ deferred-fee shares	[1]	19	17
Weighted average shares outstanding—diluted		102,627	101,360
Net income attributable to CB&I per share (Basic):
Continuing operations (in dollars per share)		$ 0.43	$ 0.16
Discontinued operations (in dollars per share)		0	0.09
Total (in dollars per share)		0.43	0.25
Net income attributable to CB&I per share (Diluted):
Continuing operations (in dollars per share)		0.43	0.15
Discontinued operations (in dollars per share)		0	0.09
Total (in dollars per share)		$ 0.43	$ 0.24
Income from continuing operations attributable to noncontrolling interests		$ 764	$ 26,837
Net income (loss) related to discontinued operations		$ 0	$ 413
[1]	Antidilutive shares excluded from diluted EPS were not material for the three months ended March 31, 2018 and 2017.

DISCONTINUED OPERATIONS - Opera

DISCONTINUED OPERATIONS - Operating Results (Details) - USD ($) $ in Thousands		3 Months Ended		12 Months Ended
		Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Payment associated with working capital adjustment				$ (24,600)
Net income from discontinued operations		$ 0	$ 9,494
Net income from discontinued operations attributable to noncontrolling interests		0	(413)
Net income from discontinued operations attributable to CB&I		$ 0	9,081
Capital Service Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenue			552,947
Cost of revenue			518,687
Gross profit			34,260
Selling and administrative expense			13,038
Intangibles amortization			2,550
Other operating income			(372)
Income from operations			19,044
Interest expense	[1]		(6,863)
Interest income			9
Income from operations before taxes			12,190
Income tax expense			(2,696)
Net income from discontinued operations			9,494
Net income from discontinued operations attributable to noncontrolling interests			(413)
Net income from discontinued operations attributable to CB&I			$ 9,081
[1]	Three Months Ended March 31, 2017Revenue $552,947Cost of revenue 518,687Gross profit 34,260Selling and administrative expense 13,038Intangibles amortization 2,550Other operating income (372)Income from operations 19,044Interest expense (1) (6,863)Interest income 9Income from operations before taxes 12,190Income tax expense (2,696)Net income from discontinued operations 9,494Net income from discontinued operations attributable to noncontrolling interests (413)Net income from discontinued operations attributable to CB&I $9,081(1) Interest expense, including amortization of capitalized debt issuance costs, was allocated to the Capital Services Operations due to a requirement to use the proceeds from the transaction to repay our debt. The allocation of interest expense was based on the anticipated debt amounts to be repaid.

DISCONTINUED OPERATIONS - Cash

DISCONTINUED OPERATIONS - Cash Flows (Details) - Capital Service Operations $ in Thousands	3 Months Ended
	Mar. 31, 2017USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Operating cash flows	$ (17,544)
Investing cash flows	$ (844)

INVENTORY (Details)

INVENTORY (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Inventory Disclosure [Abstract]
Raw materials	$ 57,626	$ 55,275
Work in process	22,233	15,652
Finished goods	33,119	30,646
Total	$ 112,978	$ 101,573

GOODWILL AND OTHER INTANGIBLE52

GOODWILL AND OTHER INTANGIBLES - Additional Information (Details) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2018USD ($)segmentreporting_unit		Dec. 31, 2017USD ($)segmentreporting_unit
Goodwill [Line Items]
Goodwill | $	$ 2,838,836	[1]	$ 2,836,582
Number of reporting units	4		4
Number of operating groups | segment	3		3
Technology
Goodwill [Line Items]
Number of reporting units	2		2
[1]	At March 31, 2018, we had approximately $453,100 of cumulative impairment losses which were recorded in our Engineering & Construction operating group during 2015 related to the sale of our nuclear power construction business (our “Nuclear Operations”) on December 31, 2015.

GOODWILL AND OTHER INTANGIBLE53

GOODWILL AND OTHER INTANGIBLES - Change in Goodwill (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)
Goodwill [Roll Forward]
Balance at beginning of period	$ 2,836,582
Amortization of tax goodwill in excess of book goodwill	(3,971)
Foreign currency translation and other	6,225
Balance at end of period	2,838,836	[1]
Engineering & Construction
Goodwill [Roll Forward]
Goodwill, impaired, accumulated impairment loss	$ 453,100
[1]	At March 31, 2018, we had approximately $453,100 of cumulative impairment losses which were recorded in our Engineering & Construction operating group during 2015 related to the sale of our nuclear power construction business (our “Nuclear Operations”) on December 31, 2015.

GOODWILL AND OTHER INTANGIBLE54

GOODWILL AND OTHER INTANGIBLES - Acquired Finite-Lived Intangible Asset Balances Including Weighted-Average Useful Lives (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Finite-Lived Intangible Assets [Line Items]
Weighted Average Life	[1]	16 years
Gross Carrying Amount	[1]	$ 394,167		$ 392,307
Accumulated Amortization	[1]	(203,691)		(195,834)
Amortization expense		$ 6,552	$ 6,486
Backlog and customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted Average Life		18 years
Gross Carrying Amount		$ 99,086		99,086
Accumulated Amortization		$ (28,297)		(26,912)
Process technologies
Finite-Lived Intangible Assets [Line Items]
Weighted Average Life		15 years
Gross Carrying Amount		$ 267,520		265,742
Accumulated Amortization		$ (156,773)		(151,174)
Tradenames
Finite-Lived Intangible Assets [Line Items]
Weighted Average Life		12 years
Gross Carrying Amount		$ 27,561		27,479
Accumulated Amortization		$ (18,621)		$ (17,748)
[1]	The decrease in other intangibles, net during the three months ended March 31, 2018 primarily related to amortization expense of approximately $6,600.

PARTNERING ARRANGEMENTS - Addit

PARTNERING ARRANGEMENTS - Additional Information (Details)	3 Months Ended
	Mar. 31, 2018USD ($)Train	Dec. 31, 2017USD ($)
Schedule of Investments [Line Items]
Advances to ventures	$ 79,000,000	$ 138,600,000
Chevron-Lummus Global CLG
Schedule of Investments [Line Items]
Equity method investment percentage	50.00%
Net Power
Schedule of Investments [Line Items]
Equity method investment percentage	33.30%
Cash commitment	$ 57,300,000
CB&I | Net Power
Schedule of Investments [Line Items]
Cumulative investments	$ 47,300,000
CB&I | CTCI Corporation
Schedule of Investments [Line Items]
Equity method investment percentage	50.00%
Exelon | Net Power
Schedule of Investments [Line Items]
Equity method investment percentage	33.30%
8 Rivers Capital | Net Power
Schedule of Investments [Line Items]
Equity method investment percentage	33.30%
CTCI Corporation
Schedule of Investments [Line Items]
Equity method investment percentage	50.00%
CB&I/Zachry
Schedule of Investments [Line Items]
Number of LNG trains | Train	2
Joint venture contract value	$ 2,700,000,000
CB&I/Zachry | Zachry
Schedule of Investments [Line Items]
Proportionately consolidated ventures percentage	50.00%
CB&I/Zachry | CB&I
Schedule of Investments [Line Items]
Proportionately consolidated ventures percentage	50.00%
CB&I/Zachry/Chiyoda
Schedule of Investments [Line Items]
Joint venture contract value	$ 675,000,000
CB&I/Zachry/Chiyoda | Zachry
Schedule of Investments [Line Items]
Proportionately consolidated ventures percentage	33.30%
CB&I/Zachry/Chiyoda | Chiyoda
Schedule of Investments [Line Items]
Proportionately consolidated ventures percentage	33.30%
CB&I/Zachry/Chiyoda | CB&I
Schedule of Investments [Line Items]
Proportionately consolidated ventures percentage	33.30%
CB&I/Chiyoda
Schedule of Investments [Line Items]
Number of LNG trains | Train	3
Joint venture contract value	$ 3,300,000,000
CB&I/Chiyoda | Chiyoda
Schedule of Investments [Line Items]
Proportionately consolidated ventures percentage	50.00%
CB&I/Chiyoda | CB&I
Schedule of Investments [Line Items]
Proportionately consolidated ventures percentage	50.00%
Chicago Bridge and Iron and CTCI Joint Venture
Schedule of Investments [Line Items]
Joint venture contract value	$ 1,400,000,000
Advances to ventures	$ 95,000,000	$ 173,600,000
CB&I/Kentz
Schedule of Investments [Line Items]
Number of LNG trains | Train	3
Joint venture contract value	$ 5,900,000,000
CB&I/Kentz | Kentz
Schedule of Investments [Line Items]
Percentage of ownership in consolidated venture	35.00%
CB&I/Kentz | CB&I
Schedule of Investments [Line Items]
Percentage of ownership in consolidated venture	65.00%
Chicago Bridge And Orano Joint Venture | Areva
Schedule of Investments [Line Items]
Percentage of ownership in consolidated venture	48.00%
Chicago Bridge And Orano Joint Venture | CB&I
Schedule of Investments [Line Items]
Percentage of ownership in consolidated venture	52.00%
Chicago Bridge And Orano
Schedule of Investments [Line Items]
Joint venture contract value	$ 6,000,000,000

PARTNERING ARRANGEMENTS - Propo

PARTNERING ARRANGEMENTS - Proportionately Consolidated Variable Interest Entities Summarized Balance Sheet Information (Details) - USD ($) $ in Thousands		Mar. 31, 2018	Dec. 31, 2017
Schedule of Equity Method Investments [Line Items]
Advances from ventures		$ 80,600	$ 138,900
Advances to ventures		79,000	138,600
CB&I/Zachry
Schedule of Equity Method Investments [Line Items]
Current assets	[1]	157,950	140,900
Non-current assets		427	1,096
Total assets		158,377	141,996
Current liabilities		150,538	171,953
CB&I/Zachry/Chiyoda
Schedule of Equity Method Investments [Line Items]
Current assets	[1]	102,379	98,680
Non-current assets		923	1,129
Total assets		103,302	99,809
Current liabilities		41,002	68,556
CB&I/Chiyoda
Schedule of Equity Method Investments [Line Items]
Total assets	[1]	108,998	92,767
Current liabilities		$ 178,342	$ 150,126
[1]	Our venture arrangements allow for excess working capital of the ventures to be advanced to the venture partners. Such advances are returned to the ventures for working capital needs as necessary. Accordingly, at a reporting period end a venture may have advances to its partners which are reflected as an advance receivable within current assets of the venture. At March 31, 2018 and December 31, 2017, other current assets of our ventures on the Balance Sheets included approximately $80,600 and $138,900, respectively, related to our proportionate share of advances from the ventures to our venture partners.

PARTNERING ARRANGEMENTS - Summa

PARTNERING ARRANGEMENTS - Summarized Balance Sheet Information of Variable Interest Entities (Details) - USD ($) $ in Thousands		Mar. 31, 2018	Dec. 31, 2017
CB&I/Kentz
Variable Interest Entity [Line Items]
Current assets		$ 24,653	$ 23,061
Non-current assets		69,840	71,023
Total assets		94,493	94,084
Current liabilities		31,373	30,082
CB&I/Orano
Variable Interest Entity [Line Items]
Current assets		10,254	32,621
Non-current assets		56,611	0
Total assets		66,865	32,621
Current liabilities		53,699	57,820
All Other
Variable Interest Entity [Line Items]
Current assets	[1]	20,823	26,551
Non-current assets	[1]	15,238	15,753
Total assets	[1]	36,061	42,304
Current liabilities	[1]	$ 6,743	$ 10,404
[1]	Other ventures that we consolidate are not individually material to our financial results and are therefore aggregated as “All Other”.

RESTRUCTURING RELATED COSTS (De

RESTRUCTURING RELATED COSTS (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017
Restructuring Cost and Reserve [Line Items]
Restructuring costs		$ 5,110	$ 0
Professional fees		3,800
Severance costs		1,300
Restructuring Reserve [Roll Forward]
Anticipated cash payments in 2018		5,200
Anticipated cash payments in 2019		2,900
Anticipated cash payments in 2020		2,400
Anticipated cash payments in 2021		2,000
Anticipated cash payments in 2022		1,600
Anticipated cash payments in 2023		100
Employee Severance And Other Related Costs
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning of period		8,500
Restructuring reserve, end of period		4,000
Union Employee Obligations
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning of period		17,000
Restructuring reserve, end of period		17,000
Facility Consolidation
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning of period		15,606
Charges		0
Cash payments		(2,101)
Foreign exchange and other		673
Restructuring reserve, end of period	[1]	$ 14,178
[1]	) Cash payments for our existing obligations at March 31, 2018 are anticipated to be approximately $5,200, $2,900, $2,400, $2,000, $1,600 and $100 in 2018, 2019, 2020, 2021, 2022, and thereafter, respectively.

DEBT - Outstanding Debt (Detail

DEBT - Outstanding Debt (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Current
Revolving facility and other short-term borrowings	$ 1,388,151,000	$ 1,102,151,000
Current maturities of long-term debt	1,148,469,000	1,167,219,000
Less: unamortized debt issuance costs	(3,111,000)	(6,928,000)
Current maturities of long-term debt, net of unamortized debt issuance costs	1,145,358,000	1,160,291,000
Current debt, net of unamortized debt issuance costs	2,533,509,000	2,262,442,000
Long-Term
Current maturities of long-term debt	(1,148,469,000)	(1,167,219,000)
Long-term debt, net	$ 0	0
Minimum
Long-Term
Senior notes fixed interest rate	7.57%
Maximum
Long-Term
Senior notes fixed interest rate	9.15%
First Senior Notes
Long-Term
Senior notes	$ 584,596,000	584,596,000
Debt instrument, face amount	800,000,000
Second Senior Notes
Long-Term
Senior notes	141,877,000	141,877,000
Debt instrument, face amount	$ 200,000,000
Long-term debt, fixed interest rate	7.53%
Term Loan Two
Long-Term
Second Term Loan: $500,000 term loan (interest at LIBOR plus a floating margin)	$ 421,996,000	$ 440,746,000
Debt instrument, face amount	500,000,000
Term Loan Two | Term Loan
Long-Term
Debt instrument, face amount	$ 500,000,000
Debt instrument, interest rate terms	Interest at LIBOR plus an applicable floating margin

DEBT - Additional Information (

DEBT - Additional Information (Details)	Dec. 31, 2018USD ($)	Sep. 30, 2018USD ($)	Jun. 30, 2018USD ($)	Mar. 31, 2018USD ($)Rate	Dec. 31, 2017USD ($)
Debt Disclosure [Line Items]
Revolving facility and other short-term borrowings				$ 1,388,151,000	$ 1,102,151,000
Financial letters of credit fee percentage | Rate				5.00%
Performance letter of credit fee percentage | Rate				3.50%
Trailing twelve month EBITDA				$ 615,000,000
Funded indebtedness, limit				2,900,000,000
Accrued liability related to anticipated modified make-whole payment				27,700,000
Aggregate borrowing availability				121,000,000
Long-term debt				966,100,000
Backlog				9,369,001,000	10,155,822,000
Discontinued Operations, Held-for-sale
Debt Disclosure [Line Items]
Backlog				$ 50,100,000
Revolving Credit Facility One
Debt Disclosure [Line Items]
Debt instrument, term				5 years
Line of credit facility, maximum borrowing capacity				$ 1,146,394,000
Total letter of credit sublimit				100,000,000
Revolving facility and other short-term borrowings				847,402,000
Amount outstanding under credit facility				71,891,000
Remaining borrowing capacity under credit facility				227,101,000
Letters of credit, remaining capacity				$ 28,109,000
Weighted average interest rate				6.89%
Revolving Credit Facility Two
Debt Disclosure [Line Items]
Debt instrument, term				5 years
Line of credit facility, maximum borrowing capacity				$ 797,372,000
Total letter of credit sublimit				100,000,000
Revolving facility and other short-term borrowings				540,749,000
Amount outstanding under credit facility				99,494,000
Remaining borrowing capacity under credit facility				157,129,000
Letters of credit, remaining capacity				$ 506,000
Weighted average interest rate				8.02%
Total Revolving Credit Facilities Member
Debt Disclosure [Line Items]
Maximum outstanding borrowings				$ 1,700,000,000
Uncommitted Credit Facility
Debt Disclosure [Line Items]
Amount outstanding under credit facility				1,599,404,000
First Senior Notes
Debt Disclosure [Line Items]
Debt instrument, face amount				800,000,000
Senior notes				584,596,000	584,596,000
Series A Senior Notes
Debt Disclosure [Line Items]
Senior notes				$ 104,653,000
Semi annually fixed rate payable				9.15%
Debt instrument maturity date				2018-08
Series B Senior Notes
Debt Disclosure [Line Items]
Senior notes				$ 165,784,000
Semi annually fixed rate payable				7.57%
Debt instrument maturity date				2019-12
Series C Senior Notes
Debt Disclosure [Line Items]
Senior notes				$ 195,219,000
Semi annually fixed rate payable				8.15%
Debt instrument maturity date				2022-12
Series D Senior Notes
Debt Disclosure [Line Items]
Senior notes				$ 118,940,000
Semi annually fixed rate payable				8.30%
Debt instrument maturity date				2024-12
Second Senior Notes
Debt Disclosure [Line Items]
Debt instrument, face amount				$ 200,000,000
Senior notes				$ 141,877,000	141,877,000
Semi annually fixed rate payable				7.53%
First And Second Senior Notes
Debt Disclosure [Line Items]
Incremental annual cost based on credit profile				1.50%
Committed Facilities, During Covenant Relief Period
Debt Disclosure [Line Items]
Minimum aggregate borrowing availability				$ 50,000,000
Committed Facilities, After Covenant Relief Period
Debt Disclosure [Line Items]
Minimum aggregate borrowing availability				250,000,000
Surety Bond
Debt Disclosure [Line Items]
Outstanding surety bonds				339,069,000
Surety Bond | Discontinued Operations, Held-for-sale
Debt Disclosure [Line Items]
Outstanding surety bonds				$ 404,597,000
Term Loan Two
Debt Disclosure [Line Items]
Debt instrument, term				5 years
Weighted average interest rate				7.10%
Long-term debt, gross				$ 421,996,000	$ 440,746,000
Debt instrument, face amount				500,000,000
Future annual maturities for 2018				56,250,000
Future annual maturities for 2019				75,000,000
Future annual maturities for 2020				$ 290,746,000
Prime Rate
Debt Disclosure [Line Items]
Debt instrument, basis spread on variable rate				4.00%
London Interbank Offered Rate (LIBOR)
Debt Disclosure [Line Items]
Debt instrument, basis spread on variable rate				5.00%
Minimum
Debt Disclosure [Line Items]
Trailing twelve month EBITDA				$ 500,000,000
Fixed charge coverage ratio				2.25
Minimum | Committed Facilities, During Covenant Relief Period
Debt Disclosure [Line Items]
Funded indebtedness, limit				$ 3,000,000,000
Maximum
Debt Disclosure [Line Items]
Leverage ratio				1.75
Maximum | First And Second Senior Notes
Debt Disclosure [Line Items]
Incremental annual cost based on leverage				1.00%
Incremental annual cost based on credit profile and everage | Rate				2.00%
Maximum | Committed Facilities, During Covenant Relief Period
Debt Disclosure [Line Items]
Funded indebtedness, limit				$ 3,140,000,000
Unsecured Revolving Credit Facility | Revolving Credit Facility Two
Debt Disclosure [Line Items]
Financial letters of credit outstanding amount				$ 2,705,000
Scenario, Forecast | Minimum
Debt Disclosure [Line Items]
Trailing twelve month EBITDA	$ 575,000,000	$ 550,000,000	$ 500,000,000

FINANCIAL INSTRUMENTS - Additio

FINANCIAL INSTRUMENTS - Additional Information (Details) - Foreign Exchange Contract Operating Exposure $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)
Derivative [Line Items]
Notional value of outstanding forward contracts	$ 119,300
Maximum
Derivative [Line Items]
Maturity of foreign currency derivatives from period-end	4 years

FINANCIAL INSTRUMENTS - Carried

FINANCIAL INSTRUMENTS - Carried at Fair Value (Details) - USD ($) $ in Thousands		Mar. 31, 2018	Dec. 31, 2017
Derivatives:
Other current assets	[1]	$ 1,665	$ 1,671
Other non-current assets	[1]	562	556
Total assets at fair value	[1]	2,227	2,227
Derivatives:
Other current liabilities		(7,892)	(4,598)
Other non-current liabilities		(183)	(187)
Total liabilities at fair value		(8,075)	(4,785)
Level 1
Derivatives:
Other current assets	[1]	0	0
Other non-current assets	[1]	0	0
Total assets at fair value	[1]	0	0
Derivatives:
Other current liabilities		0	0
Other non-current liabilities		0	0
Total liabilities at fair value		0	0
Level 2
Derivatives:
Other current assets	[1]	1,665	1,671
Other non-current assets	[1]	562	556
Total assets at fair value	[1]	2,227	2,227
Derivatives:
Other current liabilities		(7,892)	(4,598)
Other non-current liabilities		(183)	(187)
Total liabilities at fair value		(8,075)	(4,785)
Level 3
Derivatives:
Other current assets	[1]	0	0
Other non-current assets	[1]	0	0
Total assets at fair value	[1]	0	0
Derivatives:
Other current liabilities		0	0
Other non-current liabilities		0	0
Total liabilities at fair value		$ 0	$ 0
[1]	We are exposed to credit risk on our hedging instruments associated with potential counterparty non-performance, and the fair value of our derivatives reflects this credit risk. The total level 2 assets at fair value above represent the maximum loss that we would incur on our outstanding hedges if the applicable counterparties failed to perform according to the hedge contracts. To help mitigate counterparty credit risk, we transact only with counterparties that are rated as investment grade or higher and monitor all counterparties on a continuous basis.

FINANCIAL INSTRUMENTS - Total F

FINANCIAL INSTRUMENTS - Total Fair Value by Underlying Risk and Balance Sheet Classification (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Derivatives, Fair Value [Line Items]
Other Current and Non-Current Assets	$ 2,227	$ 2,227
Other Current and Non-Current Liabilities	(8,075)	(4,785)
Foreign currency
Derivatives, Fair Value [Line Items]
Other Current and Non-Current Assets	2,227
Other Current and Non-Current Liabilities	(8,075)
Derivatives designated as cash flow hedges
Derivatives, Fair Value [Line Items]
Other Current and Non-Current Assets	440	385
Other Current and Non-Current Liabilities	(227)	(140)
Derivatives designated as cash flow hedges | Foreign currency | Other Current and Non-Current Assets
Derivatives, Fair Value [Line Items]
Other Current and Non-Current Assets	440	385
Derivatives designated as cash flow hedges | Foreign currency | Other Current and Non-Current Liabilities
Derivatives, Fair Value [Line Items]
Other Current and Non-Current Liabilities	(227)	(140)
Derivatives not designated as cash flow hedges
Derivatives, Fair Value [Line Items]
Other Current and Non-Current Assets	1,787	1,842
Other Current and Non-Current Liabilities	(7,848)	(4,645)
Derivatives not designated as cash flow hedges | Foreign currency | Other Current and Non-Current Assets
Derivatives, Fair Value [Line Items]
Other Current and Non-Current Assets	1,787	1,842
Derivatives not designated as cash flow hedges | Foreign currency | Other Current and Non-Current Liabilities
Derivatives, Fair Value [Line Items]
Other Current and Non-Current Liabilities	$ (7,848)	$ (4,645)

FINANCIAL INSTRUMENTS - Derivat

FINANCIAL INSTRUMENTS - Derivative Assets and Liabilities on Gross Basis and Net Settlement Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Assets:
Gross amounts recognized	$ 2,227	$ 2,227
Gross amounts offset on the balance sheet	0
Net amounts presented on the balance sheet	2,227
Gross amounts not offset on the balance sheet - financial instruments	(454)
Gross amounts not offset on the balance sheet - cash collateral received	0
Net amount	1,773
Liabilities:
Gross amounts recognized	(8,075)	$ (4,785)
Gross amounts offset on the balance sheet	0
Net amounts presented on the balance sheet	(8,075)
Gross amounts not offset on the balance sheet - financial instruments	454
Gross amounts not offset on the balance sheet - cash collateral received	0
Net amount	(7,621)
Foreign currency
Assets:
Gross amounts recognized	2,227
Gross amounts offset on the balance sheet	0
Net amounts presented on the balance sheet	2,227
Gross amounts not offset on the balance sheet - financial instruments	(454)
Gross amounts not offset on the balance sheet - cash collateral received	0
Net amount	1,773
Liabilities:
Gross amounts recognized	(8,075)
Gross amounts offset on the balance sheet	0
Net amounts presented on the balance sheet	(8,075)
Gross amounts not offset on the balance sheet - financial instruments	454
Gross amounts not offset on the balance sheet - cash collateral received	0
Net amount	$ (7,621)

FINANCIAL INSTRUMENTS - Total V

FINANCIAL INSTRUMENTS - Total Value, by Underlying Risk, Recognized in Other Comprehensive Income and Reclassified from Accumulated Other Comprehensive Income to Interest Expense and Cost of Revenue (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain (loss) on effective derivative portion reclassified from AOCI into earnings		$ 44,658	$ 51,905
Derivatives designated as cash flow hedges
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain (loss) on effective derivative portion recognized in OCI		(39)	682
Amount of gain (loss) on effective derivative portion reclassified from AOCI into earnings	[1]	(82)	173
Net unrealized gains anticipated to be reclassified into earnings during the next 12 months		44
Derivatives designated as cash flow hedges | Interest rate
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain (loss) on effective derivative portion recognized in OCI		0	0
Amount of gain (loss) on effective derivative portion reclassified from AOCI into earnings	[1]	0	49
Derivatives designated as cash flow hedges | Foreign currency
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain (loss) on effective derivative portion recognized in OCI		(39)	682
Amount of gain (loss) on effective derivative portion reclassified from AOCI into earnings	[1]	$ (82)	$ 124
[1]	Net unrealized gains totaling approximately $44 are anticipated to be reclassified from AOCI into earnings during the next 12 months due to settlement of the associated underlying obligations.

FINANCIAL INSTRUMENTS - Total66

FINANCIAL INSTRUMENTS - Total Value Recognized in Cost of Revenue for Foreign Currency Derivatives not Designated As Cash Flow Hedges (Details) - Derivatives not designated as cash flow hedges - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Earnings	$ (13,153)	$ (6,170)
Foreign currency
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Earnings	$ (13,153)	$ (6,170)

RETIREMENT BENEFITS - Additiona

RETIREMENT BENEFITS - Additional Information (Details) $ in Millions	Mar. 31, 2018USD ($)
Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan anticipated employer contributions	$ 18.2
Other Postretirement Plans
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan anticipated employer contributions	$ 2.4

RETIREMENT BENEFITS - Contribut

RETIREMENT BENEFITS - Contribution Information for Defined Benefit and Other Postretirement Plans (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)
Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Contributions made through March 31, 2018	$ 8,052
Contributions expected for the remainder of 2018	10,102
Total contributions expected for 2018	18,154
Other Postretirement Plans
Defined Benefit Plan Disclosure [Line Items]
Contributions made through March 31, 2018	294
Contributions expected for the remainder of 2018	1,972
Total contributions expected for 2018	$ 2,266

RETIREMENT BENEFITS - Component

RETIREMENT BENEFITS - Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017
Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost		$ 3,076	$ 2,782
Interest cost		5,048	4,591
Expected return on plan assets		(6,933)	(5,786)
Amortization of prior service credits		(160)	(150)
Recognized net actuarial losses (gains)		1,494	1,498
Net periodic benefit cost (income)		2,525	2,935
Other Postretirement Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost		127	171
Interest cost		296	342
Recognized net actuarial losses (gains)	[1]	(722)	(685)
Net periodic benefit cost (income)		$ (299)	$ (172)
[1]	Three Months Ended March 31,Pension Plans 2018 2017Service cost $3,076 $2,782Interest cost 5,048 4,591Expected return on plan assets (6,933) (5,786)Amortization of prior service credits (160) (150)Recognized net actuarial losses 1,494 1,498Net periodic benefit cost $2,525 $2,935Other Postretirement Plans Service cost $127 $171Interest cost 296 342Recognized net actuarial gains (722) (685)Net periodic benefit income $(299) $(172)

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) legal_matter in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)Plaintiffclaimlegal_matter	Apr. 28, 2016USD ($)
Commitments and Contingencies Disclosure [Line Items]
Contract receivables	$ 254,000
Arbitration reimbursable billings	175,000
Outstanding receivables in arbitration	40,000
Liability for asbestos and environmental claims, gross	$ 8,300
WEC
Commitments and Contingencies Disclosure [Line Items]
Positive (negative) closing working capital		$ (976,506)
Target working capital		2,150,506
CB&I
Commitments and Contingencies Disclosure [Line Items]
Positive (negative) closing working capital		1,601,805
Target working capital		$ 427,805
Planned Combination with McDermott
Commitments and Contingencies Disclosure [Line Items]
Number of actions filed | claim	5
Number of plaintiffs | Plaintiff	5
Asbestos Matters
Commitments and Contingencies Disclosure [Line Items]
Number of plaintiffs | Plaintiff	6,200
Number of claims pending | claim	1,100
Number of claims closed through dismissals or settlements | legal_matter	5
Settlement amount per claim (dollars per legal matter)	$ 2

ACCUMULATED OTHER COMPREHENSI71

ACCUMULATED OTHER COMPREHENSIVE INCOME - Components and Reclassification of Accumulated Other Comprehensive (Loss) Income, Net of Tax (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance		$ 218,364	$ 1,561,337
Ending balance		282,488	1,617,752
Currency Translation Adjustment
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	[1]	(183,434)
OCI before reclassifications	[1]	16,282
Amounts reclassified from AOCI	[1]	0
Net OCI	[1]	16,282
Ending balance	[1]	(167,152)
Unrealized Fair Value Of Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance		299
OCI before reclassifications		(124)
Amounts reclassified from AOCI		52
Net OCI		(72)
Ending balance		227
Defined Benefit Pension and Other Postretirement Plans
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance		(133,373)
OCI before reclassifications		(4,414)
Amounts reclassified from AOCI		444
Net OCI		(3,970)
Ending balance		(137,343)
Total
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance		(316,508)	(395,616)
OCI before reclassifications		11,744
Amounts reclassified from AOCI		496
Net OCI		12,240
Ending balance		$ (304,268)	$ (372,837)
[1]	During the three months ended March 31, 2018, the currency translation adjustment component of AOCI was favorably impacted by net movements in the British Pound and Euro exchange rates against the U.S. Dollar.

ACCUMULATED OTHER COMPREHENSI72

ACCUMULATED OTHER COMPREHENSIVE INCOME - Significant Items Reclassified Into Earnings (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Foreign currency derivatives (cost of revenue)	$ 82	[1]
Tax	(30)	[1]
Total net of tax	52	[1]
Total before tax	612	[2]
Tax	(168)	[2]
Total net of tax	444	[2]
Foreign currency derivatives (cost of revenue)
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Foreign currency derivatives (cost of revenue)	82	[1]
Continuing Operations
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amortization of prior service credits	(160)	[2]
Recognized net actuarial losses	$ 772	[2]
[1]	See Note 11 for further discussion of our cash flow hedges, including the total value reclassified from AOCI to earnings.
[2]	See Note 12 for further discussion of our defined benefit and other postretirement plans, including the components of net periodic benefit cost.

EQUITY-BASED INCENTIVE PLANS 73

EQUITY-BASED INCENTIVE PLANS AND OTHER EQUITY ACTIVITY - Shares Grants (Details) - RSUs shares in Thousands	3 Months Ended
	Mar. 31, 2018$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares | shares	1,776
Weighted-average grant-date fair value (in dollars per share) | $ / shares	$ 18.46

EQUITY-BASED INCENTIVE PLANS 74

EQUITY-BASED INCENTIVE PLANS AND OTHER EQUITY ACTIVITY - Stock-Based Incentive Plans and Employee Stock Purchase Plan (Details) shares in Thousands	3 Months Ended
	Mar. 31, 2018shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares	1,023	[1]
RSUs (issued upon vesting)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares	616
Stock options (issued upon exercise)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares	284
ESPP shares (issued upon sale)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares	123
[1]	During the three months ended March 31, 2018, there were no financial performance based shares issued based on the results of the underlying performance conditions.

EQUITY-BASED INCENTIVE PLANS 75

EQUITY-BASED INCENTIVE PLANS AND OTHER EQUITY ACTIVITY - Stock Plans - Additional Information (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Purchase of treasury stock	$ 3,207	$ 7,359
Treasury Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Purchase of treasury stock	181	219
Purchase of treasury stock	$ 3,207	$ 7,359
Share repurchase, average price per share (in dollars per share)	$ 17.72
Selling and administrative expense | Continuing Operations
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 9,137	10,247
Selling and administrative expense | Discontinued Operations, Held-for-sale | Capital Service Operations
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense		$ 676

UNAPPROVED CHANGE ORDERS, CLA76

UNAPPROVED CHANGE ORDERS, CLAIMS, INCENTIVES AND OTHER PROJECT MATTERS (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)Projects	Dec. 31, 2017USD ($)
Schedule Of Unapproved Claims And Change Orders [Line Items]
Revenues recognized on a cumulative POC basis	$ 64,300
Unapproved change orders cumulative payment from customer	15,300
Reserve for estimated project losses	60,000
All Other
Schedule Of Unapproved Claims And Change Orders [Line Items]
Unapproved change orders, amount	229,800	$ 227,200
Revenues recognized on a cumulative POC basis	203,600
Incentive amounts included in contract price	$ 76,800	77,000
Percent of project completed	84.00%
Engineering & Construction
Schedule Of Unapproved Claims And Change Orders [Line Items]
Number of projects, estimated net margin, decrease to operating income | Projects	3
Estimated net margin, decrease to operating income	$ (167,000)
Increase to income from operations	$ 103,000
U.S. LNG Export Facility Projects
Schedule Of Unapproved Claims And Change Orders [Line Items]
Percent of project completed	84.00%
Reserve for estimated project losses	$ 13,000
Two Gas Projects | Engineering & Construction
Schedule Of Unapproved Claims And Change Orders [Line Items]
Estimated net margin, decrease to operating income	(143,000)
U.S. LNG Export Facility Projects | Engineering & Construction
Schedule Of Unapproved Claims And Change Orders [Line Items]
Estimated net margin, decrease to operating income	(24,000)
Westinghouse
Schedule Of Unapproved Claims And Change Orders [Line Items]
Accounts receivable	42,000	$ 30,000
Claims amount subject to arbitration or dispute resolution proceedings
Schedule Of Unapproved Claims And Change Orders [Line Items]
Claim amount subject to arbitration or dispute proceedings	$ 101,400

SEGMENT INFORMATION - Additiona

SEGMENT INFORMATION - Additional Information (Details) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2018USD ($)segment	Mar. 31, 2017USD ($)	Dec. 31, 2017segment
Segment Reporting Information [Line Items]
Number of business sectors | segment	3		3
Revenue	$ 1,745,619	$ 1,827,352
Intersegment Eliminations
Segment Reporting Information [Line Items]
Revenue	$ 69,100	$ 141,400

SEGMENT INFORMATION - Total Rev

SEGMENT INFORMATION - Total Revenue and Income from Operations by Reporting Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Segment Reporting Information [Line Items]
Revenue	$ 1,745,619	$ 1,827,352
Income From Operations	107,697	78,988
Restructuring related costs	(5,110)	0
Engineering & Construction
Segment Reporting Information [Line Items]
Revenue	1,365,395	1,280,753
Income From Operations	54,817	5,414
Fabrication Services
Segment Reporting Information [Line Items]
Revenue	262,653	422,677
Income From Operations	25,592	33,497
Technology
Segment Reporting Information [Line Items]
Revenue	117,571	123,922
Income From Operations	32,398	40,077
Total operating groups
Segment Reporting Information [Line Items]
Income From Operations	$ 112,807	$ 78,988

SEGMENT INFORMATION - Backlog a

SEGMENT INFORMATION - Backlog and Total Assets by Reportable Segment (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Segment Reporting Information [Line Items]
Backlog	$ 9,369,001	$ 10,155,822
Assets	6,020,573	5,971,582
Engineering & Construction
Segment Reporting Information [Line Items]
Backlog	6,813,855	7,675,662
Assets	3,276,772	3,142,224
Fabrication Services
Segment Reporting Information [Line Items]
Backlog	1,584,708	1,532,592
Assets	1,606,157	1,607,419
Technology
Segment Reporting Information [Line Items]
Backlog	970,438	947,568
Assets	$ 1,137,644	$ 1,221,939