Mcdermott International (MDRIQ) 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. 20, 2018
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Trading Symbol	MDR
Entity Registrant Name	MCDERMOTT INTERNATIONAL INC
Entity Central Index Key	708,819
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		285,899,713

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Statement [Abstract]
Revenues	$ 607,818	$ 519,431
Costs and Expenses:
Cost of operations	475,711	428,590
Research and development expenses	458	480
Selling, general and administrative expenses	48,934	36,533
Other operating (income) expenses, net	14,276	(2,211)
Operating income	68,439	56,039
Other expense:
Interest expense, net	(11,608)	(17,706)
Other non-operating income, net	1,719	560
Income before provision for income taxes	58,550	38,893
Provision for income taxes	20,715	10,771
Income before loss from Investments in Unconsolidated Affiliates	37,835	28,122
Loss from Investments in Unconsolidated Affiliates	(3,713)	(3,927)
Net income	34,122	24,195
Less: Net income (loss) attributable to noncontrolling interest	(1,067)	2,279
Net income attributable to McDermott	$ 35,189	$ 21,916
Net income per share attributable to McDermott
Basic	$ 0.12	$ 0.09
Diluted	$ 0.12	$ 0.08
Shares used in the computation of net income per share:
Basic	284,658,938	241,829,988
Diluted	285,050,524	282,285,595

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 34,122	$ 24,195
Other comprehensive income (loss):
Unrealized gain on investments	7	19
Gain on derivatives	230	2,135
Foreign currency translation	(596)	239
Total comprehensive income	33,763	26,588
Less: Comprehensive income (loss) attributable to noncontrolling interests	(1,067)	2,261
Comprehensive income attributable to McDermott	$ 34,830	$ 24,327

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 412,725	$ 390,263
Restricted cash and cash equivalents	6,074	17,929
Accounts receivable—trade, net	395,073	328,302
Accounts receivable—other	52,818	40,730
Contracts in progress	506,420	621,411
Other current assets	43,519	35,615
Total current assets	1,416,629	1,434,250
Property, plant and equipment	2,659,414	2,651,087
Less accumulated depreciation	(994,237)	(985,273)
Property, plant and equipment, net	1,665,177	1,665,814
Accounts receivable—long-term retainages	40,154	39,253
Investments in Unconsolidated Affiliates	5,318	7,501
Deferred income taxes	17,400	17,616
Other assets	55,970	58,386
Total assets	3,200,648	3,222,820
Current liabilities:
Notes payable and current maturities of long-term debt	24,264	24,264
Accounts payable	191,561	279,109
Accrued liabilities	341,637	336,747
Advance billings on contracts	40,207	32,252
Income taxes payable	40,670	34,562
Total current liabilities	638,339	706,934
Long-term debt	512,994	512,713
Self-insurance	16,550	16,097
Pension liabilities	14,535	14,400
Non-current income taxes	63,798	62,881
Other liabilities	115,479	121,018
Total liabilities	1,361,695	1,434,043
Commitments and contingencies
Stockholders' equity:
Common stock, par value $1.00 per share, authorized 400,000,000 shares; issued 294,407,255 and 249,690,281 shares, respectively	294,407	292,526
Capital in excess of par value	1,657,744	1,663,091
Retained earnings/ (Accumulated deficit)	6,912	(48,221)
Accumulated other comprehensive loss	(50,807)	(50,448)
Treasury stock, at cost: 8,507,542 and 8,499,021 shares, respectively	(96,347)	(96,282)
Stockholders' Equity—McDermott	1,811,909	1,760,666
Noncontrolling interest	27,044	28,111
Total equity	1,838,953	1,788,777
Total liabilities and equity	$ 3,200,648	$ 3,222,820

CONSOLIDATED BALANCE SHEETS (U5

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2018	Dec. 31, 2017
Statement Of Financial Position [Abstract]
Common stock, par value	$ 1	$ 1
Common stock, shares authorized	400,000,000	400,000,000
Common stock, shares issued	294,407,255	292,525,841
Treasury stock, shares	8,507,542	8,499,021

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017
Cash flows from operating activities:
Net income		$ 34,122	$ 24,195
Non-cash items included in net income:
Depreciation and amortization	[1]	22,776	21,381
Stock-based compensation charges		6,642	4,637
Loss from investments in Unconsolidated Affiliates		3,713	3,927
Other non-cash items		2,642	2,990
Changes in operating assets and liabilities that provided (used) cash:
Accounts receivable		(67,672)	161,321
Contracts in progress, net of Advance billings on contracts		142,890	(241,700)
Accounts payable		(89,641)	95,276
Accrued and other current liabilities		5,752	1,869
Other assets and liabilities, net		(24,128)	(25,444)
Total cash provided by operating activities		37,096	48,452
Cash flows from investing activities:
Purchases of property, plant and equipment	[2]	(18,386)	(62,849)
Proceeds from asset dispositions		52	55,391
Investments in Unconsolidated Affiliates		(1,565)
Total cash used in investing activities		(19,899)	(7,458)
Cash flows from financing activities:
Repayment of debt		(103)	(5,167)
Repurchase of common stock		(6,513)	(6,614)
Other		(79)
Total cash used in financing activities		(6,695)	(11,781)
Effects of exchange rate changes on cash, cash equivalents and restricted cash		105	213
Net increase in cash, cash equivalents and restricted cash		10,607	29,426
Cash, cash equivalents and restricted cash at beginning of period		408,192	612,333
Cash, cash equivalents and restricted cash at end of period		$ 418,799	$ 641,759
[1]	Depreciation and amortization expense associated with our marine vessels is included in the respective segments in which the vessels were located as of the reporting date.
[2]	Liabilities associated with assets acquired during the first quarter of 2018 and 2017 were $10 million and $9 million, respectively.

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY (Unaudited) - USD ($) $ in Thousands	Total	Common Stock Par Value [Member]	Capital in Excess of Par Value [Member]	Retained Earnings/(Accumulated Deficit) [Member]	Accumulated Other Comprehensive Income (Loss) ("AOCI") [Member]	Treasury Stock [Member]	Stockholder's Equity [Member]	Noncontrolling Interest ("NCI") [Member]
Beginning Balance at Dec. 31, 2016					$ (66,895)
Net income	$ 24,195
Other comprehensive loss, net of tax					2,411
Ending Balance at Mar. 31, 2017					(64,484)
Beginning Balance at Dec. 31, 2017	1,788,777	$ 292,526	$ 1,663,091	$ (48,221)	(50,448)	$ (96,282)	$ 1,760,666	$ 28,111
Adoption of ASC 606 at Dec. 31, 2017	19,944			19,944			19,944
Balance at January 1, 2018 at Dec. 31, 2017	1,808,721	292,526	1,663,091	(28,277)	(50,448)	(96,282)	1,780,610	28,111
Net income	34,122			35,189			35,189	(1,067)
Other comprehensive loss, net of tax	(359)				(359)		(359)
Common stock issued		2,740	(2,740)
Stock-based compensation charges	2,982		2,982				2,982
Purchase of treasury shares	(6,513)					(6,513)	(6,513)
Retirement of common stock		(859)	(5,589)			6,448
Ending Balance at Mar. 31, 2018	$ 1,838,953	$ 294,407	$ 1,657,744	$ 6,912	$ (50,807)	$ (96,347)	$ 1,811,909	$ 27,044

BASIS OF PRESENTATION AND SIGNI

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	NOTE 1—BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES Nature of Operations McDermott International, Inc., a corporation incorporated under the laws of the Republic of Panama in 1959, is a leading provider of integrated engineering, procurement, construction and installation (“EPCI”), front-end engineering and design (“FEED”) and module fabrication services for upstream field developments worldwide. We deliver fixed and floating production facilities, pipeline installations and subsea systems from concept to commissioning for complex offshore and subsea oil and gas projects. Operating in approximately 20 countries across the Americas, Europe, Africa, Asia and Australia, our integrated resources include a diversified fleet of marine vessels, fabrication facilities and engineering offices. We support our activities with comprehensive project management and procurement services, while utilizing our fully integrated capabilities in both shallow water and deepwater construction. Our customers include national, major integrated and other oil and gas companies, and we operate in most major offshore oil and gas producing regions throughout the world. We execute our contracts through a variety of methods, principally fixed-price, but also including cost reimbursable, cost-plus, day-rate and unit-rate basis or some combination of those methods. In these Notes to our Consolidated Financial Statements, unless the context otherwise indicates, “we,” “us” and “our” mean McDermott International, Inc. and its consolidated subsidiaries. Basis of Presentation The accompanying Consolidated Financial Statements are unaudited and have been prepared from our books and records in accordance with Rule 10-1 of Regulation S-X for interim financial information. Accordingly, they do not include all of the information and notes required by accounting principles generally accepted in the United States (“U.S. GAAP”) for complete financial statements. In the opinion of our management, all adjustments, consisting only of normal recurring adjustments, considered necessary for a fair presentation have been included. The results of operations for interim periods are not necessarily indicative of results of operations for a full year. These Consolidated Financial Statements should be read in conjunction with our Consolidated Financial Statements and Notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2017 filed with the U.S. Securities and Exchange Commission (the “SEC”) on February 21, 2018 (the “2017 Form 10-K”). Classification Certain prior year amounts have been reclassified for consistency with the current year presentation. Previously reported Consolidated Financial Statements have been adjusted to reflect those changes. Recently Issued and Adopted Accounting Guidance Revenue from Contracts with Customers (ASC Topic 606) — In May 2014, the Financial Accounting Standards Board (the “FASB”) issued a new standard related to revenue recognition which supersedes most of the existing revenue recognition requirements in U.S. GAAP and requires entities to recognize revenue at an amount that reflects the consideration to which an entity expects to be entitled in exchange for transferring goods or services to a customer. It also requires significantly expanded disclosures regarding the qualitative and quantitative information of an entity’s nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. The FASB has issued several amendments to the standard, including clarification on accounting for licenses of intellectual property, identifying performance obligations, reporting gross versus net revenue and narrow-scope revisions and practical expedients. Adoption —We adopted the new standard on January 1, 2018 (the “initial application” date): • using the modified retrospective application, with no restatement of the comparative periods presented and a cumulative effect adjustment to retained earnings as of the date of adoption; • applying the new standard only to those contracts that are not substantially complete at the date of initial application; and • disclosing the impact of the new standard in our 2018 Consolidated Financial Statements. Significant changes to our accounting policies as a result of adopting of the new standard are discussed below: • We measure transfer of control utilizing an input method to measure progress for individual contracts or combinations of contracts based on the total cost of materials, labor, equipment and vessel operating costs and other costs incurred as applicable to each contract. Previously, under ASC Topic 605-35, Construction-Type and Production-Type Contracts • Our Consolidated Balance Sheet no longer reflect assets related to cost incurred in excess of cost recognized. Under legacy GAAP, we generally excluded certain costs from our cost-to-cost method of measuring progress towards completion, such as significant costs for procured materials and third-party subcontractors, which resulted in the recognition of cost incurred in excess of cost recognized as an asset on our Consolidated Financial Statements. • Variable consideration, including change orders, claims, bonus, incentive fees and liquidated damages or penalties will be included in the estimated contract revenue at the most likely amount to which we expect to be entitled. We will include variable consideration in the estimated transaction price to the extent we concluded that it is probable a significant revenue reversal will not occur or when the uncertainty associated with the variable consideration is resolved. Revenue Recognition Contracts ―Our revenue is typically derived from long-term contracts that can span several years. We determine the appropriate accounting treatment for each of our contracts with customers before work on the project begins. We generally recognize contract revenues and related costs over-time. Performance Obligation Satisfied Over Time ―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. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. Our performance obligations are generally satisfied over time as work progresses because of continuous transfer of control to the customer. For contracts with multiple performance obligations, we allocate the contract’s transaction price to each performance obligation using our best estimate of the stand-alone selling price of each distinct good or service in the contract. Method to Measure Progress —We measure transfer of control utilizing an input method to measure progress for individual contracts or combinations of contracts based on the cost incurred to total cost of materials, labor, equipment and vessel operating costs and other costs as applicable to each contract. These costs, once incurred, are considered a measure of progress and are expensed in the period in which they are incurred. Costs incurred prior to a project award, are generally expensed during the period in which they are incurred. Total estimated project costs and resulting contract income are affected by changes in the expected cost of materials and labor, productivity, vessel costs, scheduling and other factors. Additionally, external factors such as weather, customer requirements and other factors outside of our control may affect the progress and estimated cost of a project’s completion and, therefore, the timing and amount of revenue and income recognition. Changes in total estimated contract cost and losses, if any, are recognized in the period they are determined. Performance Obligation Satisfied at a Point-in-Time Method —Contracts with performance obligations that do not meet the criteria to be recognized over time are required to be recognized , whereby revenue and gross profit is recognized only when a performance obligation is complete and a customer has obtained control of a promised asset. For contracts with revenues recognized at a point-in-time, we consider physical possession of the asset, legal transfer of title, significant risk rewards of ownership, customer acceptance and our rights to payment in determining when a performance obligation is complete. Remaining Performance Obligations (“RPOs”) ―RPOs represent the dollar amount of revenues we expect to recognize in the future from contracts that are in progress. These amounts are presented in U.S. dollars. Currency risks associated with RPOs that are not mitigated within the contracts are generally mitigated with the use of foreign currency derivative (hedging) instruments, when deemed significant. However, these actions may not eliminate all currency risk exposure included within our long-term contracts. We do not include expected revenues of contracts related to unconsolidated joint ventures in our RPOs, except to the extent of any contract awards we receive from those joint ventures. RPOs may not be indicative of future operating results, and projects included in RPOs may be cancelled, modified or otherwise altered by customers. Variable Consideration ―The nature of our contracts gives rise to several types of variable consideration, including unpriced change orders, claims, bonuses, incentive fees and liquidated damages or penalties. We estimate variable consideration based on the most likely amount to which we expect to be entitled. 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 we conclude that any significant uncertainty associated with the variable consideration is resolved. Our estimates of variable consideration and determination of whether to include estimated amounts in the 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 changes in our estimates of variable consideration on the transaction price is recognized as an adjustment to revenues (either as an increase in or a reduction of revenues) on a cumulative catch-up basis. • Change Orders ―Change orders, which are a normal and recurring part of our business, can increase the future scope and cost of a project. Most of our change orders are not distinct from the existing contract and are accounted for as part of that existing contract. The effect of a change order on the transaction price and our measure of progress for the performance obligation to which it relates, is recognized as an adjustment to revenues (either as an increase in or a reduction of revenues) on a cumulative catch-up basis. Change orders that may not be approved by the customer until the later stages of a contract or subsequent to the date a project is completed could significantly affect gross profit on a contract. Revenues from unapproved change orders are generally recognized to the extent of the amounts we expect to recover, consistent with our Variable Consideration policy discussed above. If it is probable that a reversal of revenues will occur, the costs attributable to change orders are treated as contract costs without incremental revenues. To the extent change orders included in the price are not resolved in our favor, there could be reductions in, or reversals of previously reported amounts of, revenues and profits, and charges against current earnings, which could be material. • Claims Revenue —Claims revenue may relate to various factors, including the procurement of materials, equipment performance failures, change order disputes or schedule disruptions and other delays, including factors outside of our control, therefore we believe we are entitled to additional compensation. Claims revenue, when recorded, is only recorded to the extent of the amounts we expect to recover. We include certain unapproved claims in the transaction price when the claims are legally enforceable, we consider collection to be probable and believe we can reliably estimate the ultimate value. Amounts attributable to unpriced change orders are not included in claims. We continue to engage in negotiations with our customers on our outstanding claims. However, these claims may be resolved at amounts that differ from our current estimates, which could result in increases or decreases in future estimated contract profits or losses. Claims are generally negotiated over the course of the respective projects, many of which are long-term in nature. Warranties ―Our contracts include assurance-type warranties that our performance is free from material defect and consistent with the specifications of our contracts, which do not give rise to a separate performance obligation. Adoption of the new revenue standard resulted in changes to the timing of revenue recognition and in the reclassification between financial statement line items. See Note 3, Revenue Recognition Pension and Postretirement Benefits— In March 2017, the FASB issued Accounting Standards Update (“ASU”) 2017-07, . This ASU requires bifurcation of certain components of net pension and postretirement benefit cost in the Consolidated Statements of Operations. We adopted this ASU effective as of January 1, 2018. As a result, benefit costs, excluding service costs component, previously included in Selling, general and administrate expenses, are now included in Other non-operating income (expense), net in our Consolidated Statements of Operations. All comparable periods presented have been retrospectively revised to reflect this change. Accounting Guidance Issued But Not Adopted as of March 31, 2018 Financial Instruments —In June 2016, the FASB issued ASU 2016-13, . This ASU will require a financial asset measured at amortized cost basis to be presented at the net amount expected to be collected. A valuation account, allowance for credit losses, will be deducted from the amortized cost basis of the financial asset to present the net carrying value at the amount expected to be collected on the financial asset. This ASU is effective for interim and annual periods beginning after December 15, 2019. We are currently assessing the impact of this guidance on our future Consolidated Financial Statements and related disclosures. Leases —In February 2016, the FASB issued ASU 2016-02 . The ASU will require entities that lease assets—referred to as “lessees”—to recognize on the balance sheet the assets and liabilities for the rights and obligations created by leases with lease terms of more than 12 months. Consistent with current U.S. GAAP, the recognition, measurement and presentation of expenses and cash flows arising from a lease by a lessee primarily will depend on its classification as a finance or operating lease. However, unlike current U.S. GAAP—which requires only capital leases to be recognized on the balance sheet—the new ASU will require both types of leases to be recognized on the balance sheet. This ASU is effective for interim and annual periods beginning after December 15, 2018. Early adoption is permitted. We are currently assessing the impact of this ASU on our future Consolidated Financial Statements and related disclosures.

BUSINESS COMBINATION AGREEMENT

BUSINESS COMBINATION AGREEMENT WITH CHICAGO BRIDGE & IRON COMPANY N.V. ("CB&I")	3 Months Ended
	Mar. 31, 2018
Business Combinations [Abstract]
BUSINESS COMBINATION AGREEMENT WITH CHICAGO BRIDGE & IRON COMPANY N.V. ("CB&I")	NOTE 2—BUSINESS COMBINATION AGREEMENT WITH CHICAGO BRIDGE & IRON COMPANY N.V. (“CB&I”) On December 18, 2017, McDermott International, Inc. (“McDermott”), Chicago Bridge & Iron Company N.V. (“CB&I”) and certain of their respective subsidiaries entered into a Business Combination Agreement (as amended, the “Business Combination Agreement”) pursuant to which CB&I and McDermott have agreed to combine their businesses through a series of transactions (the “Combination”). The Business Combination Agreement has been approved by the McDermott Board, the Management Board of CB&I and the Supervisory Board of CB&I. Upon completion of the Combination, McDermott stockholders will own approximately 53 percent of the combined business on a fully diluted basis and CB&I shareholders will own approximately 47 percent. Under the terms of the Business Combination Agreement, we will exchange all issued and outstanding shares of CB&I common stock for shares of McDermott common stock at the exchange ratio described below. As a result CB&I shareholders will be entitled to receive 2.47221 shares of McDermott Common Stock for each share of CB&I Common Stock owned (or 0.82407 shares if McDermott effects a proposed three-to-one reverse stock split prior to the closing of the Combination), together with cash in lieu of fractional shares. The Combination would be accounted for using the acquisition method of accounting in accordance with Accounting Standards Codifications (“ASC”) Topic 805, Business Combinations In connection with the Business Combination Agreement, we entered into or received commitment letters (including the exhibits and other attachments thereto, and together with any amendments, modifications or supplements thereto, the “Commitment Letters”) from certain financial institutions to provide debt financing for the Combination. Pursuant to the Commitment Letters, as amended and restated through the date of this report, we expect the following financing arrangements to be reflected in a new credit agreement to be entered into by certain of our subsidiaries (the “Borrowers”) on or before the closing of the Combination (the “New Credit Agreement”): • a senior secured revolving credit facility providing for revolving credit borrowings and letters of credit in an aggregate principal or face amount of $1.0 billion outstanding at any one time (the “Revolving Facility”); • a senior secured letter of credit facility providing for letters of credit in the aggregate face amount of $1.39 billion outstanding at any one time (the “LC Facility”); and • a senior secured term loan facility providing for borrowings in the aggregate principal amount of $2.26 billion (the “Term Facility”), $319 million of which will be deposited into a cash collateral account to secure reimbursement obligations in respect of up to $310 million of letters of credit issuable under the Term Facility. In addition, on April 18, 2018, McDermott Escrow 1, Inc. and McDermott Escrow 2, Inc. (together, the “Escrow Issuers”) completed the previously announced offering of $1.3 billion in aggregate principal amount of 10.625% senior unsecured notes due 2024 (the “2024 Notes”). The Escrow Issuers represent variable interest entities which will be consolidated by McDermott International, Inc. beginning in the second quarter of 2018. Pursuant to an escrow agreement (the “Escrow Agreement”), by and among the Escrow Issuers and Wells Fargo Bank, National Association, as escrow agent (the “Escrow Agent”), the proceeds of the offering of the 2024 Notes, together with approximately $28 million, to provide funds sufficient to pay interest on the 2024 Notes through June 29, 2018, were deposited into a segregated escrow account with the Escrow Agent. The funds will remain in escrow until the date on which certain escrow conditions are satisfied and the escrow proceeds are released (the “Escrow Conditions”). Concurrent with the satisfaction of the Escrow Conditions, the Escrow Issuers will merge with and into McDermott Technology (Americas), Inc. (“McDermott Technology (Americas)”) and McDermott Technology (US), Inc. (together with McDermott Technology (Americas), the “Post-Merger Co-Issuers”), with each Post-Merger Co-Issuer being a surviving entity that will assume, by operation of law, the obligations of the applicable Escrow Issuer under the 2024 Notes. Each of the Post-Merger Co-Issuers is a wholly owned subsidiary of McDermott International, Inc. The 2024 Notes will be subject to a special mandatory redemption at a redemption price equal to 100% of the initial issue price of the 2024 Notes plus accrued interest to, but not including, the redemption date if the Escrow Conditions are not satisfied or the Escrow Issuers determine in their discretion that the Escrow Conditions are incapable of being satisfied on or prior to June 29, 2018. The proceeds of the offering of the 2024 Notes and loans under the New Credit Agreement are intended to be used: (a) on the closing date for the Combination (the “Effective Date”) to (1) consummate the Combination, including the repayment of certain existing indebtedness of CBI and its subsidiaries, (2) redeem Outstanding Senior Secured Notes, (3) prepay existing indebtedness under, and to terminate in full, the Current Credit Agreement (as defined in Note 8, Debt The Revolving Facility and the LC Facility are expected to mature on the fifth annual anniversary of the Effective Date. The Term Facility is expected to mature on the seventh annual anniversary of the Effective Date, unless on the date that is six months prior to the scheduled maturity date of the 2024 Notes, more than $350 million of the 2024 Notes are outstanding and our secured leverage ratio (as defined in the New Credit Agreement) is greater than or equal to 1.00 to 1.00, in which case the Term Facility will mature on such date. From and after the Effective Date the indebtedness and other obligations under the New Credit Agreement, the 2024 Notes and the Indenture will be unconditionally guaranteed on a senior secured basis by McDermott International, Inc. and substantially all of its wholly owned subsidiaries, including wholly owned subsidiaries resulting from the consummation of the Combination (collectively, the “Guarantors”), other than its captive insurance subsidiary and certain other designated or immaterial subsidiaries. From and after the Effective Date, the obligations under the New Credit Agreement will be secured by first-priority liens on substantially all of the Borrowers’ and the Guarantors’ assets. The New Credit Agreement is expected to include provisions for mandatory commitment reductions and prepayments in connection with, among other events and circumstances, certain asset sales and casualty events. In addition, we will be required to make an annual prepayment of term loans under the Term Facility and thereafter cash collateralize letters of credit issued under the Revolving Facility and the LC Facility with 75% of excess cash flow (as defined in the New Credit Agreement), reducing to 50% of excess cash flow and 25% of excess cash flow depending on our secured leverage ratio. The New Credit Agreement is expected to require the Borrowers to prepay the term loans made under the Term Facility on the last day of each fiscal quarter in an amount equal to approximately $6 million. The New Credit Agreement is expected to otherwise only require periodic interest payments until maturity. Revolving loans under the Revolving Facility are expected to bear interest at the Borrowers’ option at either the Eurodollar rate (as defined in the New Credit Agreement) plus a margin ranging from 3.75% to 4.25% per year or the base rate (the highest of the Federal Funds rate plus 0.50%, the 30-day Eurodollar rate plus 1.0%, or the administrative agent’s prime rate) plus a margin ranging from 2.75% to 3.25% per year. The applicable margin will vary depending on our leverage ratio (as defined in the New Credit Agreement). Term loans under the Term Facility are expected to bear interest at the Borrowers’ option at either the Eurodollar rate plus a margin of 5.00% per year or the base rate plus a margin of 4.00%, subject to a 1.0% floor with respect to the Eurodollar rate. The Borrowers are expected to be charged a commitment fee of 0.50% per year on the daily amount of the unused portions of the commitments under the Revolving Facility and the LC Facility. Additionally, with respect to all letters of credit outstanding under the New Credit Agreement, the Borrowers are expected to be charged a fronting fee of 0.25% per year and, with respect to all letters of credit outstanding under the New Credit Agreement, a participation fee of (1) between 3.75% to 4.25% per year in respect of financial letters of credit and (2) between 1.875% to 2.125% per year in respect of performance letters of credit, in each case depending on our leverage ratio. The Borrowers are also expected to be required to pay customary issuance fees and other fees and expenses in connection with the issuance of letters of credit under the New Credit Agreement. On the Effective Date, we will be required to pay upfront fees, ticking fees, commitment fees, arrangement fees and other fees to certain lenders, arrangers and agents of the New Credit Agreement. The New Credit Agreement is expected to include the following financial covenants that will be tested on a quarterly basis, commencing September 30, 2018: • a minimum permitted fixed charge coverage ratio (as defined in the New Credit Agreement) of 1.50 to 1.00; • a maximum permitted leverage ratio of (1) 4.25 to 1.00 for each fiscal quarter ending on or before September 30, 2019, (2) 4.00 to 1.00 for the fiscal quarter ending December 31, 2019, (3) 3.75 to 1.00 for each fiscal quarter ending after December 31, 2019 and on or before December 31, 2020, (4) 3.50 to 1.00 for each fiscal quarter ending after December 31, 2020 and on or before December 31, 2021 and (5) 3.25 to 1.00 for each fiscal quarter ending after December 31, 2021; and • a minimum liquidity (as defined in the New Credit Agreement, but generally meaning the sum of our cash and cash equivalents plus unused commitments under the New Credit Agreement available for revolving borrowings) requirement of $200 million. In addition, the New Credit Agreement and the Indenture contain various covenants that, among other restrictions, will limit the ability of McDermott International, Inc. and each of its restricted subsidiaries to: • incur or assume indebtedness; • grant or assume liens; • make acquisitions or engage in mergers; • sell, transfer, assign or convey assets; • make investments; • repurchase equity and make dividends and certain other restricted payments; • change the nature of its business; • engage in transactions with affiliates; • enter into burdensome agreements; • modify its organizational documents; • enter into sale and leaseback transactions; • make capital expenditures; • enter into speculative hedging contracts; and • make prepayments on certain junior debt. The Indenture contains, and the New Credit Agreement is expected to contain, provisions relating to events of default that we believe are customary for similar financing arrangements. During the first quarter of 2018, $11 million of costs associated with the Combination were expensed as incurred and were reported in Other operating (income) (expense) in our Consolidated Statements of Operations. Those costs included advisors’ professional fees and integration costs related to the Combination.

REVENUE RECOGNITION

REVENUE RECOGNITION	3 Months Ended
	Mar. 31, 2018
Revenue Recognition [Abstract]
REVENUE RECOGNITION	NOTE 3—REVENUE RECOGNITION Effect of ASC Topic 606 Adoption ―The cumulative effect of adopting ASC 606 due to change in method to measure project progress, as discussed in Note 1, , is as follows: Impact of ASC 606 adoption Legacy GAAP Adjustment As reported (In thousands) Consolidated Statements of Operations for the quarter ended March 31, 2018 Revenues $ 590,307 $ 17,511 $ 607,818 Cost of operations 459,991 15,720 475,711 Operating Income 66,648 1,791 68,439 Provision for income taxes 19,979 736 20,715 Net income 34,134 1,055 35,189 Consolidated Balance Sheets as of March 31, 2018 Assets Current assets: Contracts in progress 493,750 12,670 506,420 Liabilities and equity Current liabilities: Advance billings on contracts 49,310 (9,103 ) 40,207 Income taxes payable 39,934 736 40,670 Stockholders' equity: Retained earnings (Accumulated deficit) (14,125 ) 21,037 6,912 (1) 2018, Remaining performance obligations (“RPOs”) ― Our RPOs are generally satisfied over time as work progresses under our contracts with customers. As of March 31, 2018, we had $3.4 billion of RPOs. The following table summarizes changes to our RPOs (in thousands): RPOs at December 31, 2017 $ 3,901,443 ASC 606 cumulative effect adjustment at January 1, 2018 (228,126 ) RPOs at January 1, 2018 3,673,317 Bookings from new contracts 193,170 Additions on existing contracts, net 128,004 Less: Amounts recognized in revenues 607,818 RPOs at March 31, 2018 (1) $ 3,386,673 (1) Our RPOs by segment were as follows: March 31, 2018 (in approximate millions) AEA $ 969 28 % MEA 2,021 60 % ASA 397 12 % Total $ 3,387 100 % Of the March 31, 2018 RPOs, we expect to recognize revenues as follows: 2018 2019 Thereafter (in approximate millions) Total RPOs $ 1,826 $ 1,252 $ 309 Contract types ―We execute our contracts using a variety of pricing models, including fixed-price, unit-basis, cost-plus, or some combination of those methods, with fixed-price being the most prevalent. Additional detail regarding our revenues by contract types is disclosed in Note 16, . Change orders —As of March 31, 2018 and 2017, variable consideration associated with unapproved change orders that have been included in transaction prices aggregated to approximately $110 million and $118 million, of which approximately $8 million and $12 million were included in RPOs, respectively. Claims Revenue ― As of March 31, 2018, there were no material claims revenues included in operating results. The amount of revenues included in our transaction prices associated with claims as of March 31, 2018 and 2017 was $10 million, all in our Middle East segment. Claim amounts are determined based on various factors, including our analysis of the underlying contractual language and our experience in making and resolving claims. Our unconsolidated joint ventures did not include any material claims revenues or associated costs in their financial results for the three months ended March 31, 2018 and 2017. None of the claims as of March 31, 2018, whether material or immaterial, were the subject of any litigation proceedings. We continue to actively engage in negotiations with our customers on our outstanding claims. These claims may be resolved at amounts that differ from our current estimates, which could result in increases or decreases in future estimated contract profits or losses. However, we currently do not expect any significant reversals of revenues. Loss Recognition ―A risk associated with fixed-priced contracts is that revenue from customers may not cover increases in our costs. It is possible that current estimates could materially change for various reasons, including, but not limited to, fluctuations in forecasted labor and vessel productivity, vessel repair requirements, weather downtime, subcontractor or supplier performance, pipeline lay rates or steel and other raw material prices and penalties associated with missed completion deadlines. For all contracts, if a current estimate of total contract cost indicates a loss, the projected loss is recognized in full immediately and reflected in cost of operations in the Consolidated Statements of Operations. It is possible that these estimates could change due to unforeseen events such as changes in productivity, actual downtime and the resolution of change orders and claims with the customers, which could result in adjustments to overall contract costs. Variations from estimated contract performance could result in material adjustments to operating results for any fiscal quarter or year. In our Consolidated Balance Sheets, the provision for estimated losses on all active uncompleted projects is included in “Advance billings on contracts.” There were no material active projects as of March 31, 2018 which we determined to be in a substantial loss position. The provision for estimated losses on all active uncompleted projects in our Consolidated Balance Sheets as of March 31, 2018 and December 31, 2017 were not material.

USE OF ESTIMATES

USE OF ESTIMATES	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
USE OF ESTIMATES	NOTE 4—USE OF ESTIMATES The following is a discussion of our most significant changes in cost estimates that impacted segment operating income for the three months ended March 31, 2018 Three months ended March 31, 2018 Segment operating income was positively impacted by favorable changes in estimates totaling approximately $37 million in our Middle East (“MEA” ) MEA — This segment was positively impacted by favorable changes in estimates aggregating approximately $30 million, primarily due to: • cost savings associated with fabrication, procurement and marine campaigns on two Saudi Aramco lump-sum EPCI projects under the second Saudi Aramco Long Term Agreement (“LTA II”) • savings associated with marine campaigns, reimbursement for costs incurred and reduction in estimated costs to complete on multiple projects in the Middle East, none of which were individually material. Those favorable changes in estimates were partially offset by higher estimated costs associated with: • hook-up and marine campaigns on two Saudi Aramco projects; and • standby equipment and mechanical equipment downtime on Middle East projects. ASA— This segment was positively impacted by favorable changes in estimates aggregating approximately $9 million, primarily due to reduction in estimates of costs to complete several active projects. Those favorable changes in estimates were partially offset by additional costs associated with weather downtime on two active projects. Three months ended March 31, 2017 Segment operating income for the three months ended March 31, 2017 was positively impacted by net favorable changes in estimates totaling approximately $47 million across all segments. AEA — This segment was positively impacted by net favorable changes in estimates aggregating approximately $5 million on multiple projects, none of which individually were material. MEA — This segment was positively impacted by net favorable changes in estimates aggregating approximately $16 million, primarily due to productivity improvements and associated cost savings on Saudi Aramco projects. ASA — This segment was positively impacted by net favorable changes in estimates aggregating approximately $26 million, primarily as a result of improved cost estimates associated with efficient project execution, including productivity improvements on our marine vessels and associated cost savings achieved, on our active projects. At December 31, 2016, on the Ichthys project in Australia, we reported a $34 million increase in our estimated costs at completion due to a failure identified in a supplier-provided subsea-pipe connector component that we had previously installed, and we identified possible additional increases of up to $10 million, due to potential need for alternative installation methods. We investigated the cause of the failure and developed a remediation plan in conjunction with the customer. We commenced offshore replacement in June 2017 through a diving intervention method and completed the replacement in 2017. The costs to replace the supplier-provided subsea-pipe connector component were less than our December 31, 2016 estimate. The project remains in an overall profitable position.

CASH, CASH EQUIVALENTS AND REST

CASH, CASH EQUIVALENTS AND RESTRICTED CASH	3 Months Ended
	Mar. 31, 2018
Cash And Cash Equivalents [Abstract]
CASH, CASH EQUIVALENTS AND RESTRICTED CASH	NOTE 5—CASH, CASH EQUIVALENTS AND RESTRICTED CASH The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the Consolidated Balance Sheets that sum to the totals of such amounts shown in the Consolidated Statements of Cash Flows. March 31, 2018 December 31, 2017 (in thousands) Cash and cash equivalents $ 412,725 $ 390,263 Restricted cash and cash equivalents 6,074 17,929 Total cash, cash equivalents and restricted cash shown in the Consolidated Statements of Cash Flows $ 418,799 $ 408,192 A majority of our restricted cash balances serve as collateral for letters of credit, discussed in Note 8, Debt

ACCOUNTS RECEIVABLE

ACCOUNTS RECEIVABLE	3 Months Ended
	Mar. 31, 2018
Receivables [Abstract]
ACCOUNTS RECEIVABLE	NOTE 6—ACCOUNTS RECEIVABLE Accounts Receivable—Trade, Net ―A summary of contract receivables is as follows: March 31, 2018 December 31, 2017 (In thousands) Contract receivables $ 313,758 $ 225,974 Retainages 98,551 119,550 Less allowances (17,236 ) (17,222 ) Accounts receivable — $ 395,073 $ 328,302 Retainages— Contract retainages generally represent amounts withheld by our customers until project completion, in accordance with the terms of the applicable contracts. The following is a summary of retainages on our contracts: March 31, 2018 December 31, 2017 (In thousands) Retainages expected to be collected within one year $ 98,551 $ 119,550 Retainages expected to be collected after one year 40,154 39,253 Total retainages $ 138,705 $ 158,803

CONTRACTS IN PROGRESS AND ADVAN

CONTRACTS IN PROGRESS AND ADVANCE BILLINGS ON CONTRACTS	3 Months Ended
	Mar. 31, 2018
Contractors [Abstract]
CONTRACTS IN PROGRESS AND ADVANCE BILLINGS ON CONTRACTS	NOTE 7—CONTRACTS IN PROGRESS AND ADVANCE BILLINGS ON CONTRACTS Contracts in progress, assets —include unbilled amounts typically resulting from revenue recognized exceeding the amount billed to the customer. We bill our customers as work progresses in accordance with agreed-upon contractual terms, mostly upon achievement of contractual milestones. Billing occurring subsequent to revenue recognition results in contract assets. Contract assets may not exceed their net realizable value and are classified as current. We expect to invoice customers for all unbilled revenues. Our payment terms are generally for less than 12 months and our contracts typically do not include a significant financing component. Advance billings on contracts —include billings to customers that exceed revenues recognized. Most long-term contracts contain provisions for progress payments. Billing occurring prior to revenue recognition results in contract liabilities. As of March 31, 2018, Contracts in progress, assets and Advance billings on contracts include balances associated with excess of costs recognized over cost incurred on those contracts that are substantially complete at the date of initial application of ASC Topic 606. Prior to the adoption of ASC Topic 606, certain costs, such as significant costs for materials and third-party subcontractors, were excluded from our cost-to-cost method of measuring progress for revenue recognition, which resulted in the recognition of an asset related to cost incurred in excess of cost recognized. As a result of our adoption of ASC Topic 606 effective January 1, 2018, we now measure transfer of control utilizing an input method to measure progress for individual contracts or combinations of contracts based on the total cost of materials, labor, equipment and vessel operating costs and other costs incurred as applicable to each contract. Our contract assets and liabilities as of March 31, 2018 and December 31, 2017 were as follows and are reflective of the accounting treatment in effect as of each reporting date: March 31, 2018 December 31, 2017 (In thousands) Costs incurred less costs of revenues recognized $ (3,228 ) $ 98,127 Revenues recognized less billings to customers 509,648 523,284 Contracts in Progress, assets 506,420 621,411 Billings to customers less revenues recognized 28,279 45,661 Costs incurred less costs of revenues recognized 11,928 (13,409 ) Advance billings on contracts 40,207 32,252 For the three-months ended March 31, 2018, we recognized $66 million of revenues due to changes in transaction price associated with performance obligations satisfied in prior periods, primarily in our ASA segment. The change in transaction price primarily relates to reimbursement of costs incurred in prior periods. Revenues recognized for the three-month period ended March 31, 2018 with respect to amounts included in our Advance billings on contracts balance as of December 31, 2017 was $38 million.

DEBT

DEBT	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
DEBT	NOTE 8—DEBT The carrying values of our long-term debt obligations, net of unamortized debt issuance costs of $5 million as of March 31, 2018 and December 31, 2017, are as follows: March 31, 2018 December 31, 2017 (In thousands) Senior Notes $ 495,383 $ 495,000 North Ocean 105 construction financing 24,511 24,511 Vendor equipment financing 15,686 15,686 Other, including capital lease obligations 1,678 1,780 537,258 536,977 Less: Amounts due within one year 24,264 24,264 Total long-term debt $ 512,994 $ 512,713 On June 30, 2017, we amended and restated our credit agreement dated April 16, 2014, by entering into an Amended and Restated Credit Agreement (the “Current Credit Agreement”) with a syndicate of lenders and letter of credit issuers, and Crédit Agricole Corporate and Investment Bank, as administrative agent and collateral agent. Available capacity under the Current Credit Agreement is as follows: Capacity Utilized March 31, 2018 December 31, 2017 (In millions) Letters of Credit (1) $ 510 $ 390 $ 407 Revolving Credit Facility/ Letters of Credit 300 - - (1) Includes During the first quarter of 2018, the maximum amount of cash collateral used to support bilateral letters of credit was $122 million. Senior Secured Notes —On April 9, 2018, in connection with the financings referred to in Note 2, Business Combination Agreement with Chicago Bridge & Iron Company N.V. (“CB&I”) , we gave a conditional notice for full optional redemption of all our outstanding senior secured notes due 2021 (the “Outstanding Senior Secured Notes”) on May 10, 2018, which date is subject to extension through June 8, 2018. The redemption price will be equal to 102% of the aggregate principal amount of the Outstanding Senior Secured Notes, plus accrued and unpaid interest. The redemption is subject to our depositing, with the trustee for the Outstanding Senior Secured Notes, funds sufficient to pay the redemption price for all of the Outstanding Senior Secured Notes, plus accrued and unpaid interest. Uncommitted Bilateral Credit Facilities —We are party to a number of short-term uncommitted bilateral credit facilities (the “Uncommitted Facilities”) across several geographic regions, as follows: March 31, 2018 December 31, 2017 Uncommitted Line Capacity Utilized Uncommitted Line Capacity Utilized (In millions) Bank Guarantee and Bilateral Letter of Credit $ 875 $ 545 $ 725 $ 572 Surety Bonds 300 48 300 49 Bilateral arrangements to issue cash collateralized letters of credit 175 6 175 18 As of March 31, 2018, we were in compliance with all of the financial covenants set forth in the Current Credit Agreement. See Note 12, Debt

PENSION AND POSTRETIREMENT BENE

PENSION AND POSTRETIREMENT BENEFITS	3 Months Ended
	Mar. 31, 2018
Compensation And Retirement Disclosure [Abstract]
PENSION AND POSTRETIREMENT BENEFITS	NOTE 9—PENSION AND POSTRETIREMENT BENEFITS Net periodic benefit cost or gain recognized during each period presented relates to expected return on plan assets, net of interest costs, for our qualified defined benefit pension plan and several of our non-qualified supplemental defined benefit pension plans (the “Domestic Plans”) and our J. Ray McDermott, S.A. Third Country National Employees Pension Plan (the “TCN Plan”). Domestic Plans TCN Plan Three Months Ended March 31, 2018 2017 2018 2017 (In thousands) Interest cost $ 4,433 $ 4,991 $ - $ 290 Expected return on plan assets (4,672 ) (4,907 ) (11 ) (345 ) Net periodic benefit cost (gain) $ (239 ) $ 84 $ (11 ) $ (55 ) In August 2017 the TCN plan was amended to issue lump-sum distributions of certain accrued benefits or allow transfer of such benefits into the defined contribution plan. As of December 31, 2017 all investments in the TCN plan trust were converted to cash and cash equivalents to facilitate settlements. Settlements are expected to be completed by the end of 2018. As of March 31, 2018, total benefits remaining under the plan were approximately $20 million. We recognize mark-to-market fair value adjustments on defined benefit plans in our Consolidated Statements of Operations in the fourth quarter of each year.

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	3 Months Ended
	Mar. 31, 2018
Derivative Instruments And Hedging Activities Disclosure [Abstract]
DERIVATIVE FINANCIAL INSTRUMENTS	NOTE 10—DERIVATIVE FINANCIAL INSTRUMENTS We enter into derivative financial instruments primarily to hedge certain firm purchase commitments and forecasted transactions denominated in foreign currencies. We record these contracts at fair value on our Consolidated Balance Sheets. Depending on the hedge designation at the inception of the contract, the related gains and losses on these contracts are either: (1) deferred as a component of Accumulated Other Comprehensive Income (“AOCI”) until the hedged item is recognized in earnings; (2) offset against the change in fair value of the hedged firm commitment through earnings; or (3) recognized immediately in earnings. At inception and on an ongoing basis, we assess the hedging relationship to determine its effectiveness in offsetting changes in cash flows or fair value attributable to the hedged risk. We exclude from our assessment of effectiveness the portion of the fair value of the forward contracts attributable to the difference between spot exchange rates and forward exchange rates. The ineffective portion of a derivative’s change in fair value and any portion excluded from the assessment of effectiveness are immediately recognized in earnings. Gains and losses on derivative financial instruments which are immediately recognized in earnings are included as a component of Other non-operating income (expense), net, in our Consolidated Statements of Operations. As of March 31, 2018, the majority of our foreign currency forward contracts were designated as cash flow hedging instruments. In addition, we deferred approximately $2 million of net losses on those derivative financial instruments in AOCI, and we expect to reclassify approximately $0.2 million of deferred losses out of AOCI by March 31, 2019, as hedged items are recognized in earnings. The notional value of our outstanding derivative contracts totaled $199 million at March 31, 2018, with maturities extending through June 2020. These instruments consist of contracts to purchase or sell foreign-denominated currencies. As of March 31, 2018, the fair value of these contracts was in a net asset position totaling approximately $1 million. The fair value of outstanding derivative instruments is determined using observable financial market inputs, such as quoted market prices, and is classified as Level 2 in nature. The following tables summarize our derivative financial instruments: Asset and Liability Derivatives March 31, 2018 December 31, 2017 (in thousands) Derivatives Designated as Hedges: Location: Accounts receivable-other $ 1,788 $ 2,232 Other assets 56 66 Total derivatives asset $ 1,844 $ 2,298 Accounts payable $ 925 $ 618 Other liabilities 8 - Total derivatives liability $ 933 $ 618 The Effects of Derivative Instruments on our Financial Statements March 31, 2018 2017 (in thousands) Derivatives Designated as Hedges: Amount of gain (loss) recognized in other comprehensive income (loss) $ 481 $ 5,602 Gain reclassified from AOCI to Cost of operations (238 ) (3,515 ) Ineffective portion and amount excluded from effectiveness testing: gain (loss) recognized in Other non-operating income (expense) 310 305

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
	Mar. 31, 2018
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	NOTE 11—FAIR VALUE MEASUREMENTS The following table presents the financial instruments outstanding as of March 31, 2018 and December 31, 2017 that are measured at fair value on a recurring basis and financial instruments that are not measured at fair value on a recurring basis. March 31, 2018 Carrying Amount Fair Value Level 1 Level 2 Level 3 (in thousands) Recurring Forward contracts $ 911 $ 911 $ - $ 911 $ - Financial instruments not measured at fair value Debt (537,258 ) (552,651 ) - (510,460 ) (42,191 ) December 31, 2017 Carrying Amount Fair Value Level 1 Level 2 Level 3 (in thousands) Recurring Forward contracts $ 1,680 $ 1,680 $ - $ 1,680 $ - Financial instruments not measured at fair value Debt (536,977 ) (558,077 ) - (515,735 ) (42,342 ) The carrying value of all non-derivative financial instruments included in current assets (including cash, cash equivalents and restricted cash and accounts receivable) and current liabilities (including accounts payable but excluding short-term debt) approximates the applicable fair value due to the short maturity of those instruments. We used the following methods and assumptions in estimating our fair value disclosures for our other financial instruments: Short-term and long-term debt— The fair value of debt instruments valued using a market approach based on quoted prices for similar instruments traded in active markets is classified as Level 2 within the fair value hierarchy. Quoted prices were not available for the NO 105 , Forward contracts— The fair value of forward contracts is classified as Level 2 within the fair value hierarchy and is valued using observable market parameters for similar instruments traded in active markets. Where quoted prices are not available, the income approach is used to value forward contracts, which discounts future cash flows based on current market expectations and credit risk.

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2018
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 12—INCOME TAXES Our effective income tax rate for the first quarter of 2018 was 35.4% compared with 27.7% for the first quarter 2017. The increase in the provision for income taxes was primarily driven by increased income in the quarter coupled with losses in certain jurisdictions where we did not recognize a tax benefit. The increase was partially offset by income in favorable tax jurisdictions. For the three-month period ended March 31, 2018, the Company is utilizing the discrete-period method to compute its interim tax provision due to significant variations in the relationship between income tax expense and pre-tax accounting income or loss; consequently, the actual effective rate for the interim period is being reported. The discrete-period method is applied when the application of the estimated annual effective tax rate is impractical because it is not possible to reliably estimate the annual effective tax rate. Due to the impact of ongoing tax losses in the U.S. and the corresponding valuation allowance on our U.S. net deferred tax asset position, the new provisions from U.S. tax reform enacted in December 2017 and taking effect in 2018 are not expected to have a material impact on our 2018 tax position.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	3 Months Ended
	Mar. 31, 2018
Stockholders Equity Note [Abstract]
STOCKHOLDERS’ EQUITY	NOTE 13—STOCKHOLDERS’ EQUITY The changes in the number of shares outstanding and treasury shares held by the Company are as follows: Three Months Ended March 31, 2018 2017 Shares outstanding Beginning balance 284,026,820 241,388,277 Common stock issued 2,740,096 2,586,578 Purchase of common stock (867,203 ) (933,060 ) Ending balance 285,899,713 243,041,795 Shares held as Treasury shares Beginning balance 8,499,021 8,302,004 Purchase of common stock 867,203 933,060 Retirement of common stock (858,682 ) (787,267 ) Ending balance 8,507,542 8,447,797 Ordinary shares issued at the end of the period 294,407,255 251,489,592 Accumulated Other Comprehensive Income (Loss) —the components of AOCI included in stockholders’ equity are as follows: March 31, 2018 December 31, 2017 (in thousands) Foreign currency translation adjustments ("CTA") $ (49,621 ) $ (49,025 ) Net unrealized gain on investments 400 393 Net unrealized loss on derivative financial instruments (1,586 ) (1,816 ) Accumulated other comprehensive loss $ (50,807 ) $ (50,448 ) The following table presents the components of AOCI and the amounts that were reclassified during the periods indicated: Foreign currency translation adjustments Unrealized holding gain (loss) on investments Gain (loss) on derivative (1) TOTAL (In thousands) Balance, January 1, 2017 $ (42,082 ) $ 269 $ (25,082 ) $ (66,895 ) Other comprehensive income before reclassification 239 19 5,602 5,860 Amounts reclassified from AOCI - - (3,449 ) (2) (3,449 ) Net current period other comprehensive income 239 19 2,153 2,411 Balance, March 31, 2017 $ (41,843 ) $ 288 $ (22,929 ) $ (64,484 ) Balance, January 1, 2018 $ (49,025 ) $ 393 $ (1,816 ) $ (50,448 ) Other comprehensive income before reclassification (596 ) 7 481 (108 ) Amounts reclassified from AOCI - - (251 ) (2) (251 ) Net current period other comprehensive income (596 ) 7 230 (359 ) Balance, March 31, 2018 $ (49,621 ) $ 400 $ (1,586 ) $ (50,807 ) (1) (2)

EARNINGS PER SHARE

EARNINGS PER SHARE	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
EARNINGS PER SHARE	NOTE 14—EARNINGS PER SHARE The following table sets forth the computation of basic and diluted earnings per common share: Three Months Ended March 31, 2018 2017 (in thousands, except share and per share amounts) Net income attributable to McDermott $ 35,189 $ 21,916 Weighted average common stock (basic) 284,658,938 241,829,988 Effect of dilutive securities: Tangible equity units - 38,000,936 Stock options, restricted stock and restricted stock units 391,586 2,454,671 Potential dilutive common stock 285,050,524 282,285,595 Net income per share attributable to McDermott Basic: $ 0.12 $ 0.09 Diluted: $ 0.12 $ 0.08 Approximately 1 million and 2 million shares underlying outstanding stock-based awards for the three months ended March 31, 2018 and 2017, respectively, were excluded from the computation of diluted earnings per share during those periods because the exercise price of those awards was greater than the average market price of our common stock, and the inclusion of such shares would have been antidilutive.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2018
Commitments And Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 15—COMMITMENTS AND CONTINGENCIES Investigations and Litigation Combination Related Lawsuits —In January, February and March 2018, five shareholders of CB&I 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 registration statement we and a subsidiary of CB&I filed in connection with the Combination (the “Registration Statement”) . The cases are captioned ( 1 ) McIntyre v. Chicago Bridge & Iron Company N.V., et al. , Case No. 4:18-cv-00273 (S.D. Tex.) (the “McIntyre Action”); ( 2 ) 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”); ( 3 ) Maresh v. Chicago Bridge & Iron Company N.V., et al. , Case No. 4:18-cv-00498 (S.D. Tex.) (the “Maresh Action”); ( 4 ) Patel v. Chicago Bridge & Iron Co. N.V., et al. , Case No. 4:18-cv-00550 (S.D. Tex.) (the “Patel Action”); and ( 5 ) Judd v. Chicago Bridge& Iron Co. N.V., et. al. , Case No. 4:18-cv-00799 (S.D. Tex.) (the “Judd Action”). The McIntyre Action, Leon Action, Maresh Action and Judd Action are asserted on behalf of putative classes of CB&I’s 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 Securities of 1934 R S On February 23, 2018, CB&I moved for consolidation of the four then-pending shareholder actions, an order requiring plaintiffs and their counsel to coordinate their efforts, and for appointment of a preliminary lead plaintiff and lead counsel in the putative class actions. then- . O then- On March 15, 2018, after the Judd Action was filed, the defendants moved for that case to be consolidated with the other cases. On March 16, 2018, the defendants moved to dismiss the consolidated amended complaint and the interim lead plaintiff filed a motion for a preliminary injunction. On March 29, 2018, the interim lead plaintiff withdrew its motion for a preliminary injunction. Motions for permanent lead plaintiff status were due on April 2, 2018, and only the interim lead plaintiff filed such a motion. On April 5, 2018, the 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 substantive allegations contained in the complaints are without merit, and we intend to defend against the claims made against us vigorously. FloaTEC Investigation —We co-own interests in several entities (collectively “FloaTEC”) with subsidiaries of Keppel Corporation (including its subsidiaries, “Keppel”). We have conducted an internal investigation in connection with allegations by a former Petrobras employee that Keppel’s agent made improper payments to secure project awards from Petrobras on a number of Keppel affiliated projects in Brazil, including a FloaTEC project on which we were also a subcontractor. Keppel’s agent subsequently entered into a plea arrangement with the Brazilian authorities and admitted to having made improper payments on behalf of Keppel to former Petrobras employees on projects unrelated to FloaTEC. In August 2016, we voluntarily contacted the U.S. Department of Justice (“DOJ”) to advise it of the preliminary results of our internal investigation, which identified no evidence to indicate any improper payments were made by us or FloaTEC or that any of our or FloaTEC’s employees authorized, had knowledge of, or direction or control over, any such payments. During the period from August 2016 through January 2017, we responded to requests for additional information from the DOJ. In December 2017, Keppel entered into a deferred prosecution agreement with the DOJ and the U.S. Attorney’s Office for the U.S. District Court for the Eastern District of New York in connection with charges that Keppel had conspired to violate the anti-bribery provisions of the Foreign Corrupt Practices Act. The DOJ has not been in contact with us since January 2017 regarding this matter. If in the future, the DOJ determines that violations of applicable law have occurred involving us, we could be subject to civil or criminal sanctions, including monetary penalties, which could be material. However, based on the results of our investigation, we do not expect this matter to have a material adverse effect on us or our operations. Additionally, due to the nature of our business, we and our affiliates are, from time to time, involved in litigation or subject to disputes or claims related to our business activities, including, among other things: • performance or warranty-related matters under our customer and supplier contracts and other business arrangements; and • workers’ compensation claims, Jones Act claims, occupational hazard claims, including asbestos-exposure claims, premises liability claims and other claims. Based upon our prior experience, we do not expect that any of these other litigation proceedings, disputes and claims will have a material adverse effect on our consolidated financial condition, results of operations or cash flows; however, because of the inherent uncertainty of litigation and other dispute resolution proceedings and, in some cases, the availability and amount of potentially applicable insurance, we can provide no assurance the resolution of any particular claim or proceeding to which we are a party will not have a material effect on our consolidated financial condition, results of operations or cash flows for the fiscal period in which that resolution occurs. Environmental Matters We have been identified as a potentially responsible party at various cleanup sites under the Comprehensive Environmental Response, Compensation, and Liability Act of 1980, as amended (“CERCLA”). CERCLA and other environmental laws can impose liability for the entire cost of cleanup on any of the potentially responsible parties, regardless of fault or the lawfulness of the original conduct. Generally, however, where there are multiple responsible parties, a final allocation of costs is made based on the amount and type of wastes disposed of by each party and the number of financially viable parties, although this may not be the case with respect to any particular site. We have not been determined to be a major contributor of waste to any of these sites. On the basis of our relative contribution of waste to each site, we expect our share of the ultimate liability for the various sites will not have a material adverse effect on our consolidated financial condition, results of operations or cash flows in any given year. As of March 31, 2018, we had no environmental reserve recorded. Asset Retirement Obligations At some sites, we are contractually obligated to decommission our fabrication facilities upon site exit. Currently, we are unable to estimate any asset retirement obligations (“AROs”) due to the indeterminate life of our fabrication facilities. We regularly review the optimal future alternatives for our facilities. Any decision to retire one or more facilities will result in recording the present value of such obligations. AROs would be recorded at the present value of the estimated costs to retire the asset at the time the obligation is incurred. As of March 31, 2018, we had no AROs recorded. Contracts Containing Liquidated Damages Provisions Some of our contracts contain provisions that require us to pay liquidated damages if we are responsible for the failure to meet specified contractual milestone dates and the applicable customer asserts a claim under those provisions. Those contracts define the conditions under which our customers may make claims against us for liquidated damages. In many cases in which we have historically had potential exposure for liquidated damages, such damages ultimately were not asserted by our customers. As of March 31, 2018, we determined that we had under $1 million of potential liquidated damages exposure, based on performance under contracts to date, and no liability is recorded in our Consolidated Financial Statements related to such exposure. We believe we will be successful in obtaining schedule extensions or other customer-agreed changes that should resolve the potential for these liquidated damages. However, we may not achieve relief on some or all of the issues involved and, as a result, could be subject to liquidated damages being imposed on us in the future.

SEGMENT REPORTING

SEGMENT REPORTING	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
SEGMENT REPORTING	NOTE 16—SEGMENT REPORTING We disclose the results of each of our reportable segments in accordance with ASC 280, Segment Reporting We manage reportable segments along geographic lines consisting of (1) AEA, (2) MEA and (3) ASA. We also report certain corporate and other non-operating activities under the heading “Corporate and Other.” Corporate and Other primarily reflects c orporate expenses, certain centrally managed initiatives (such as restructuring charges), impairments, year-end mark-to-market (“MTM”) pension actuarial gains and losses, costs not attributable to a particular segment and unallocated direct operating expenses associated with the underutilization f . Summarized financial information is shown in the following tables: Three Months Ended March 31, 2018 2017 (in thousands) Revenues: AEA $ 113,304 $ 28,131 MEA 345,123 310,052 ASA 149,391 181,248 Total revenues: $ 607,818 $ 519,431 Income before provision for income taxes: Operating income: AEA $ 53 $ 183 MEA 69,183 64,377 ASA 75,349 29,775 Segment operating income 144,585 94,335 Corporate and Other (1) (76,146 ) (38,296 ) Total operating income 68,439 56,039 Interest expense, net (11,608 ) (17,706 ) Other non-operating income, net 1,719 560 Income before provision for income taxes $ 58,550 $ 38,893 Capital expenditures: (2) AEA $ 2,524 $ 5,251 MEA 3,295 5,852 ASA 3,039 3,512 Corporate and Other (3) 9,528 48,234 Total capital expenditures: $ 18,386 $ 62,849 Depreciation and amortization: (4) AEA $ 7,302 $ 4,013 MEA 6,248 7,903 ASA 7,426 7,575 Corporate and Other 1,800 1,890 Total depreciation and amortization: $ 22,776 $ 21,381 (1) (2) (3) (4) March 31, 2018 December 31, 2017 (in thousands) Segment assets: AEA $ 960,102 $ 921,171 MEA 955,054 1,020,599 ASA 923,226 887,209 Corporate and Other 362,266 393,841 Total assets $ 3,200,648 $ 3,222,820 (1) Our marine vessels are included in the area in which they were located as of the reporting date. Our revenue by service lines and contract types was as follows: Three Months Ended March 31, 2018 2017 (in thousands) Service line revenues: Offshore $ 394,724 $ 354,064 Subsea and other 213,094 165,367 $ 607,818 $ 519,431 Contract types Fixed-price $ 582,592 $ 475,921 Unit-basis and other 25,226 43,510 $ 607,818 $ 519,431

BASIS OF PRESENTATION AND SIG24

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Nature of Operations	Nature of Operations McDermott International, Inc., a corporation incorporated under the laws of the Republic of Panama in 1959, is a leading provider of integrated engineering, procurement, construction and installation (“EPCI”), front-end engineering and design (“FEED”) and module fabrication services for upstream field developments worldwide. We deliver fixed and floating production facilities, pipeline installations and subsea systems from concept to commissioning for complex offshore and subsea oil and gas projects. Operating in approximately 20 countries across the Americas, Europe, Africa, Asia and Australia, our integrated resources include a diversified fleet of marine vessels, fabrication facilities and engineering offices. We support our activities with comprehensive project management and procurement services, while utilizing our fully integrated capabilities in both shallow water and deepwater construction. Our customers include national, major integrated and other oil and gas companies, and we operate in most major offshore oil and gas producing regions throughout the world. We execute our contracts through a variety of methods, principally fixed-price, but also including cost reimbursable, cost-plus, day-rate and unit-rate basis or some combination of those methods. In these Notes to our Consolidated Financial Statements, unless the context otherwise indicates, “we,” “us” and “our” mean McDermott International, Inc. and its consolidated subsidiaries.
Basis of Presentation	Basis of Presentation The accompanying Consolidated Financial Statements are unaudited and have been prepared from our books and records in accordance with Rule 10-1 of Regulation S-X for interim financial information. Accordingly, they do not include all of the information and notes required by accounting principles generally accepted in the United States (“U.S. GAAP”) for complete financial statements. In the opinion of our management, all adjustments, consisting only of normal recurring adjustments, considered necessary for a fair presentation have been included. The results of operations for interim periods are not necessarily indicative of results of operations for a full year. These Consolidated Financial Statements should be read in conjunction with our Consolidated Financial Statements and Notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2017 filed with the U.S. Securities and Exchange Commission (the “SEC”) on February 21, 2018 (the “2017 Form 10-K”).
Classification	Classification Certain prior year amounts have been reclassified for consistency with the current year presentation. Previously reported Consolidated Financial Statements have been adjusted to reflect those changes.
Recently Issued and Adopted Accounting Guidance	Recently Issued and Adopted Accounting Guidance Revenue from Contracts with Customers (ASC Topic 606) — In May 2014, the Financial Accounting Standards Board (the “FASB”) issued a new standard related to revenue recognition which supersedes most of the existing revenue recognition requirements in U.S. GAAP and requires entities to recognize revenue at an amount that reflects the consideration to which an entity expects to be entitled in exchange for transferring goods or services to a customer. It also requires significantly expanded disclosures regarding the qualitative and quantitative information of an entity’s nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. The FASB has issued several amendments to the standard, including clarification on accounting for licenses of intellectual property, identifying performance obligations, reporting gross versus net revenue and narrow-scope revisions and practical expedients. Adoption —We adopted the new standard on January 1, 2018 (the “initial application” date): • using the modified retrospective application, with no restatement of the comparative periods presented and a cumulative effect adjustment to retained earnings as of the date of adoption; • applying the new standard only to those contracts that are not substantially complete at the date of initial application; and • disclosing the impact of the new standard in our 2018 Consolidated Financial Statements. Significant changes to our accounting policies as a result of adopting of the new standard are discussed below: • We measure transfer of control utilizing an input method to measure progress for individual contracts or combinations of contracts based on the total cost of materials, labor, equipment and vessel operating costs and other costs incurred as applicable to each contract. Previously, under ASC Topic 605-35, Construction-Type and Production-Type Contracts • Our Consolidated Balance Sheet no longer reflect assets related to cost incurred in excess of cost recognized. Under legacy GAAP, we generally excluded certain costs from our cost-to-cost method of measuring progress towards completion, such as significant costs for procured materials and third-party subcontractors, which resulted in the recognition of cost incurred in excess of cost recognized as an asset on our Consolidated Financial Statements. • Variable consideration, including change orders, claims, bonus, incentive fees and liquidated damages or penalties will be included in the estimated contract revenue at the most likely amount to which we expect to be entitled. We will include variable consideration in the estimated transaction price to the extent we concluded that it is probable a significant revenue reversal will not occur or when the uncertainty associated with the variable consideration is resolved. Revenue Recognition Contracts ―Our revenue is typically derived from long-term contracts that can span several years. We determine the appropriate accounting treatment for each of our contracts with customers before work on the project begins. We generally recognize contract revenues and related costs over-time. Performance Obligation Satisfied Over Time ―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. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. Our performance obligations are generally satisfied over time as work progresses because of continuous transfer of control to the customer. For contracts with multiple performance obligations, we allocate the contract’s transaction price to each performance obligation using our best estimate of the stand-alone selling price of each distinct good or service in the contract. Method to Measure Progress —We measure transfer of control utilizing an input method to measure progress for individual contracts or combinations of contracts based on the cost incurred to total cost of materials, labor, equipment and vessel operating costs and other costs as applicable to each contract. These costs, once incurred, are considered a measure of progress and are expensed in the period in which they are incurred. Costs incurred prior to a project award, are generally expensed during the period in which they are incurred. Total estimated project costs and resulting contract income are affected by changes in the expected cost of materials and labor, productivity, vessel costs, scheduling and other factors. Additionally, external factors such as weather, customer requirements and other factors outside of our control may affect the progress and estimated cost of a project’s completion and, therefore, the timing and amount of revenue and income recognition. Changes in total estimated contract cost and losses, if any, are recognized in the period they are determined. Performance Obligation Satisfied at a Point-in-Time Method —Contracts with performance obligations that do not meet the criteria to be recognized over time are required to be recognized , whereby revenue and gross profit is recognized only when a performance obligation is complete and a customer has obtained control of a promised asset. For contracts with revenues recognized at a point-in-time, we consider physical possession of the asset, legal transfer of title, significant risk rewards of ownership, customer acceptance and our rights to payment in determining when a performance obligation is complete. Remaining Performance Obligations (“RPOs”) ―RPOs represent the dollar amount of revenues we expect to recognize in the future from contracts that are in progress. These amounts are presented in U.S. dollars. Currency risks associated with RPOs that are not mitigated within the contracts are generally mitigated with the use of foreign currency derivative (hedging) instruments, when deemed significant. However, these actions may not eliminate all currency risk exposure included within our long-term contracts. We do not include expected revenues of contracts related to unconsolidated joint ventures in our RPOs, except to the extent of any contract awards we receive from those joint ventures. RPOs may not be indicative of future operating results, and projects included in RPOs may be cancelled, modified or otherwise altered by customers. Variable Consideration ―The nature of our contracts gives rise to several types of variable consideration, including unpriced change orders, claims, bonuses, incentive fees and liquidated damages or penalties. We estimate variable consideration based on the most likely amount to which we expect to be entitled. 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 we conclude that any significant uncertainty associated with the variable consideration is resolved. Our estimates of variable consideration and determination of whether to include estimated amounts in the 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 changes in our estimates of variable consideration on the transaction price is recognized as an adjustment to revenues (either as an increase in or a reduction of revenues) on a cumulative catch-up basis. • Change Orders ―Change orders, which are a normal and recurring part of our business, can increase the future scope and cost of a project. Most of our change orders are not distinct from the existing contract and are accounted for as part of that existing contract. The effect of a change order on the transaction price and our measure of progress for the performance obligation to which it relates, is recognized as an adjustment to revenues (either as an increase in or a reduction of revenues) on a cumulative catch-up basis. Change orders that may not be approved by the customer until the later stages of a contract or subsequent to the date a project is completed could significantly affect gross profit on a contract. Revenues from unapproved change orders are generally recognized to the extent of the amounts we expect to recover, consistent with our Variable Consideration policy discussed above. If it is probable that a reversal of revenues will occur, the costs attributable to change orders are treated as contract costs without incremental revenues. To the extent change orders included in the price are not resolved in our favor, there could be reductions in, or reversals of previously reported amounts of, revenues and profits, and charges against current earnings, which could be material. • Claims Revenue —Claims revenue may relate to various factors, including the procurement of materials, equipment performance failures, change order disputes or schedule disruptions and other delays, including factors outside of our control, therefore we believe we are entitled to additional compensation. Claims revenue, when recorded, is only recorded to the extent of the amounts we expect to recover. We include certain unapproved claims in the transaction price when the claims are legally enforceable, we consider collection to be probable and believe we can reliably estimate the ultimate value. Amounts attributable to unpriced change orders are not included in claims. We continue to engage in negotiations with our customers on our outstanding claims. However, these claims may be resolved at amounts that differ from our current estimates, which could result in increases or decreases in future estimated contract profits or losses. Claims are generally negotiated over the course of the respective projects, many of which are long-term in nature. Warranties ―Our contracts include assurance-type warranties that our performance is free from material defect and consistent with the specifications of our contracts, which do not give rise to a separate performance obligation. Adoption of the new revenue standard resulted in changes to the timing of revenue recognition and in the reclassification between financial statement line items. See Note 3, Revenue Recognition Pension and Postretirement Benefits— In March 2017, the FASB issued Accounting Standards Update (“ASU”) 2017-07, . This ASU requires bifurcation of certain components of net pension and postretirement benefit cost in the Consolidated Statements of Operations. We adopted this ASU effective as of January 1, 2018. As a result, benefit costs, excluding service costs component, previously included in Selling, general and administrate expenses, are now included in Other non-operating income (expense), net in our Consolidated Statements of Operations. All comparable periods presented have been retrospectively revised to reflect this change.
Accounting Guidance Issued But Not Adopted	Accounting Guidance Issued But Not Adopted as of March 31, 2018 Financial Instruments —In June 2016, the FASB issued ASU 2016-13, . This ASU will require a financial asset measured at amortized cost basis to be presented at the net amount expected to be collected. A valuation account, allowance for credit losses, will be deducted from the amortized cost basis of the financial asset to present the net carrying value at the amount expected to be collected on the financial asset. This ASU is effective for interim and annual periods beginning after December 15, 2019. We are currently assessing the impact of this guidance on our future Consolidated Financial Statements and related disclosures. Leases —In February 2016, the FASB issued ASU 2016-02 . The ASU will require entities that lease assets—referred to as “lessees”—to recognize on the balance sheet the assets and liabilities for the rights and obligations created by leases with lease terms of more than 12 months. Consistent with current U.S. GAAP, the recognition, measurement and presentation of expenses and cash flows arising from a lease by a lessee primarily will depend on its classification as a finance or operating lease. However, unlike current U.S. GAAP—which requires only capital leases to be recognized on the balance sheet—the new ASU will require both types of leases to be recognized on the balance sheet. This ASU is effective for interim and annual periods beginning after December 15, 2018. Early adoption is permitted. We are currently assessing the impact of this ASU on our future Consolidated Financial Statements and related disclosures.

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	3 Months Ended
	Mar. 31, 2018
Revenue Recognition [Abstract]
Cumulative Effect of Revenue Recognition Accounting Change	Effect of ASC Topic 606 Adoption ―The cumulative effect of adopting ASC 606 due to change in method to measure project progress, as discussed in Note 1, , is as follows: Impact of ASC 606 adoption Legacy GAAP Adjustment As reported (In thousands) Consolidated Statements of Operations for the quarter ended March 31, 2018 Revenues $ 590,307 $ 17,511 $ 607,818 Cost of operations 459,991 15,720 475,711 Operating Income 66,648 1,791 68,439 Provision for income taxes 19,979 736 20,715 Net income 34,134 1,055 35,189 Consolidated Balance Sheets as of March 31, 2018 Assets Current assets: Contracts in progress 493,750 12,670 506,420 Liabilities and equity Current liabilities: Advance billings on contracts 49,310 (9,103 ) 40,207 Income taxes payable 39,934 736 40,670 Stockholders' equity: Retained earnings (Accumulated deficit) (14,125 ) 21,037 6,912 (1) 2018,
Summary of Changes to RPOs	The following table summarizes changes to our RPOs (in thousands): RPOs at December 31, 2017 $ 3,901,443 ASC 606 cumulative effect adjustment at January 1, 2018 (228,126 ) RPOs at January 1, 2018 3,673,317 Bookings from new contracts 193,170 Additions on existing contracts, net 128,004 Less: Amounts recognized in revenues 607,818 RPOs at March 31, 2018 (1) $ 3,386,673 (1)
Summary of RPOs by Segment	Our RPOs by segment were as follows: March 31, 2018 (in approximate millions) AEA $ 969 28 % MEA 2,021 60 % ASA 397 12 % Total $ 3,387 100 %
Summary of RPOs Expected Revenue Recognition	Of the March 31, 2018 RPOs, we expect to recognize revenues as follows: 2018 2019 Thereafter (in approximate millions) Total RPOs $ 1,826 $ 1,252 $ 309

CASH, CASH EQUIVALENTS AND RE26

CASH, CASH EQUIVALENTS AND RESTRICTED CASH (Tables)	3 Months Ended
	Mar. 31, 2018
Cash And Cash Equivalents [Abstract]
Reconciliation of Cash, Cash Equivalents, and Restricted Cash	The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the Consolidated Balance Sheets that sum to the totals of such amounts shown in the Consolidated Statements of Cash Flows. March 31, 2018 December 31, 2017 (in thousands) Cash and cash equivalents $ 412,725 $ 390,263 Restricted cash and cash equivalents 6,074 17,929 Total cash, cash equivalents and restricted cash shown in the Consolidated Statements of Cash Flows $ 418,799 $ 408,192

ACCOUNTS RECEIVABLE (Tables)

ACCOUNTS RECEIVABLE (Tables)	3 Months Ended
	Mar. 31, 2018
Receivables [Abstract]
Contract Receivables	A summary of contract receivables is as follows: March 31, 2018 December 31, 2017 (In thousands) Contract receivables $ 313,758 $ 225,974 Retainages 98,551 119,550 Less allowances (17,236 ) (17,222 ) Accounts receivable — $ 395,073 $ 328,302
Retainages on Contracts	The following is a summary of retainages on our contracts: March 31, 2018 December 31, 2017 (In thousands) Retainages expected to be collected within one year $ 98,551 $ 119,550 Retainages expected to be collected after one year 40,154 39,253 Total retainages $ 138,705 $ 158,803

CONTRACTS IN PROGRESS AND ADV28

CONTRACTS IN PROGRESS AND ADVANCE BILLINGS ON CONTRACTS (Tables)	3 Months Ended
	Mar. 31, 2018
Contractors [Abstract]
Schedule of Contract Assets and Liabilities	Our contract assets and liabilities as of March 31, 2018 and December 31, 2017 were as follows and are reflective of the accounting treatment in effect as of each reporting date: March 31, 2018 December 31, 2017 (In thousands) Costs incurred less costs of revenues recognized $ (3,228 ) $ 98,127 Revenues recognized less billings to customers 509,648 523,284 Contracts in Progress, assets 506,420 621,411 Billings to customers less revenues recognized 28,279 45,661 Costs incurred less costs of revenues recognized 11,928 (13,409 ) Advance billings on contracts 40,207 32,252

DEBT (Tables)

DEBT (Tables)	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Summary of Long-Term Debt Obligations	The carrying values of our long-term debt obligations, net of unamortized debt issuance costs of $5 million as of March 31, 2018 and December 31, 2017, are as follows: March 31, 2018 December 31, 2017 (In thousands) Senior Notes $ 495,383 $ 495,000 North Ocean 105 construction financing 24,511 24,511 Vendor equipment financing 15,686 15,686 Other, including capital lease obligations 1,678 1,780 537,258 536,977 Less: Amounts due within one year 24,264 24,264 Total long-term debt $ 512,994 $ 512,713
Schedule of Available Capacity Under Credit Agreement	Available capacity under the Current Credit Agreement is as follows: Capacity Utilized March 31, 2018 December 31, 2017 (In millions) Letters of Credit (1) $ 510 $ 390 $ 407 Revolving Credit Facility/ Letters of Credit 300 - - (1) Includes
Schedule of Uncommitted Bilateral Credit Facilities	Uncommitted Bilateral Credit Facilities —We are party to a number of short-term uncommitted bilateral credit facilities (the “Uncommitted Facilities”) across several geographic regions, as follows: March 31, 2018 December 31, 2017 Uncommitted Line Capacity Utilized Uncommitted Line Capacity Utilized (In millions) Bank Guarantee and Bilateral Letter of Credit $ 875 $ 545 $ 725 $ 572 Surety Bonds 300 48 300 49 Bilateral arrangements to issue cash collateralized letters of credit 175 6 175 18

PENSION AND POSTRETIREMENT BE30

PENSION AND POSTRETIREMENT BENEFITS (Tables)	3 Months Ended
	Mar. 31, 2018
Compensation And Retirement Disclosure [Abstract]
Net Periodic Benefit Cost or Gain	Net periodic benefit cost or gain recognized during each period presented relates to expected return on plan assets, net of interest costs, for our qualified defined benefit pension plan and several of our non-qualified supplemental defined benefit pension plans (the “Domestic Plans”) and our J. Ray McDermott, S.A. Third Country National Employees Pension Plan (the “TCN Plan”). Domestic Plans TCN Plan Three Months Ended March 31, 2018 2017 2018 2017 (In thousands) Interest cost $ 4,433 $ 4,991 $ - $ 290 Expected return on plan assets (4,672 ) (4,907 ) (11 ) (345 ) Net periodic benefit cost (gain) $ (239 ) $ 84 $ (11 ) $ (55 )

DERIVATIVE FINANCIAL INSTRUME31

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	3 Months Ended
	Mar. 31, 2018
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	The following tables summarize our derivative financial instruments: Asset and Liability Derivatives March 31, 2018 December 31, 2017 (in thousands) Derivatives Designated as Hedges: Location: Accounts receivable-other $ 1,788 $ 2,232 Other assets 56 66 Total derivatives asset $ 1,844 $ 2,298 Accounts payable $ 925 $ 618 Other liabilities 8 - Total derivatives liability $ 933 $ 618
Effects of Derivative Instruments on Financial Statements	The Effects of Derivative Instruments on our Financial Statements March 31, 2018 2017 (in thousands) Derivatives Designated as Hedges: Amount of gain (loss) recognized in other comprehensive income (loss) $ 481 $ 5,602 Gain reclassified from AOCI to Cost of operations (238 ) (3,515 ) Ineffective portion and amount excluded from effectiveness testing: gain (loss) recognized in Other non-operating income (expense) 310 305

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	3 Months Ended
	Mar. 31, 2018
Fair Value Disclosures [Abstract]
Schedule of Financial Instruments Outstanding Measured at Fair Value on Recurring and Nonrecurring Basis	The following table presents the financial instruments outstanding as of March 31, 2018 and December 31, 2017 that are measured at fair value on a recurring basis and financial instruments that are not measured at fair value on a recurring basis. March 31, 2018 Carrying Amount Fair Value Level 1 Level 2 Level 3 (in thousands) Recurring Forward contracts $ 911 $ 911 $ - $ 911 $ - Financial instruments not measured at fair value Debt (537,258 ) (552,651 ) - (510,460 ) (42,191 ) December 31, 2017 Carrying Amount Fair Value Level 1 Level 2 Level 3 (in thousands) Recurring Forward contracts $ 1,680 $ 1,680 $ - $ 1,680 $ - Financial instruments not measured at fair value Debt (536,977 ) (558,077 ) - (515,735 ) (42,342 )

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	3 Months Ended
	Mar. 31, 2018
Accumulated Other Comprehensive Income Loss [Line Items]
Changes in the Number of Shares Outstanding and Treasury Shares Held by the Company	The changes in the number of shares outstanding and treasury shares held by the Company are as follows: Three Months Ended March 31, 2018 2017 Shares outstanding Beginning balance 284,026,820 241,388,277 Common stock issued 2,740,096 2,586,578 Purchase of common stock (867,203 ) (933,060 ) Ending balance 285,899,713 243,041,795 Shares held as Treasury shares Beginning balance 8,499,021 8,302,004 Purchase of common stock 867,203 933,060 Retirement of common stock (858,682 ) (787,267 ) Ending balance 8,507,542 8,447,797 Ordinary shares issued at the end of the period 294,407,255 251,489,592
Components of Accumulated Other Comprehensive Income (Loss) Included in Stockholders' Equity	the components of AOCI included in stockholders’ equity are as follows: March 31, 2018 December 31, 2017 (in thousands) Foreign currency translation adjustments ("CTA") $ (49,621 ) $ (49,025 ) Net unrealized gain on investments 400 393 Net unrealized loss on derivative financial instruments (1,586 ) (1,816 ) Accumulated other comprehensive loss $ (50,807 ) $ (50,448 )
Reclassifications [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Components of Accumulated Other Comprehensive Income (Loss) Included in Stockholders' Equity	The following table presents the components of AOCI and the amounts that were reclassified during the periods indicated: Foreign currency translation adjustments Unrealized holding gain (loss) on investments Gain (loss) on derivative (1) TOTAL (In thousands) Balance, January 1, 2017 $ (42,082 ) $ 269 $ (25,082 ) $ (66,895 ) Other comprehensive income before reclassification 239 19 5,602 5,860 Amounts reclassified from AOCI - - (3,449 ) (2) (3,449 ) Net current period other comprehensive income 239 19 2,153 2,411 Balance, March 31, 2017 $ (41,843 ) $ 288 $ (22,929 ) $ (64,484 ) Balance, January 1, 2018 $ (49,025 ) $ 393 $ (1,816 ) $ (50,448 ) Other comprehensive income before reclassification (596 ) 7 481 (108 ) Amounts reclassified from AOCI - - (251 ) (2) (251 ) Net current period other comprehensive income (596 ) 7 230 (359 ) Balance, March 31, 2018 $ (49,621 ) $ 400 $ (1,586 ) $ (50,807 ) (1) (2)

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings Per Share	The following table sets forth the computation of basic and diluted earnings per common share: Three Months Ended March 31, 2018 2017 (in thousands, except share and per share amounts) Net income attributable to McDermott $ 35,189 $ 21,916 Weighted average common stock (basic) 284,658,938 241,829,988 Effect of dilutive securities: Tangible equity units - 38,000,936 Stock options, restricted stock and restricted stock units 391,586 2,454,671 Potential dilutive common stock 285,050,524 282,285,595 Net income per share attributable to McDermott Basic: $ 0.12 $ 0.09 Diluted: $ 0.12 $ 0.08

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Information about Operations in Different Segments	Summarized financial information is shown in the following tables: Three Months Ended March 31, 2018 2017 (in thousands) Revenues: AEA $ 113,304 $ 28,131 MEA 345,123 310,052 ASA 149,391 181,248 Total revenues: $ 607,818 $ 519,431 Income before provision for income taxes: Operating income: AEA $ 53 $ 183 MEA 69,183 64,377 ASA 75,349 29,775 Segment operating income 144,585 94,335 Corporate and Other (1) (76,146 ) (38,296 ) Total operating income 68,439 56,039 Interest expense, net (11,608 ) (17,706 ) Other non-operating income, net 1,719 560 Income before provision for income taxes $ 58,550 $ 38,893 Capital expenditures: (2) AEA $ 2,524 $ 5,251 MEA 3,295 5,852 ASA 3,039 3,512 Corporate and Other (3) 9,528 48,234 Total capital expenditures: $ 18,386 $ 62,849 Depreciation and amortization: (4) AEA $ 7,302 $ 4,013 MEA 6,248 7,903 ASA 7,426 7,575 Corporate and Other 1,800 1,890 Total depreciation and amortization: $ 22,776 $ 21,381 (1) (2) (3) (4)
Information about Segment Assets by Country	March 31, 2018 December 31, 2017 (in thousands) Segment assets: AEA $ 960,102 $ 921,171 MEA 955,054 1,020,599 ASA 923,226 887,209 Corporate and Other 362,266 393,841 Total assets $ 3,200,648 $ 3,222,820 (1) Our marine vessels are included in the area in which they were located as of the reporting date.
Information about Revenue by Service Lines and Contract Types	Our revenue by service lines and contract types was as follows: Three Months Ended March 31, 2018 2017 (in thousands) Service line revenues: Offshore $ 394,724 $ 354,064 Subsea and other 213,094 165,367 $ 607,818 $ 519,431 Contract types Fixed-price $ 582,592 $ 475,921 Unit-basis and other 25,226 43,510 $ 607,818 $ 519,431

Basis of Presentation and Sig36

Basis of Presentation and Significant Accounting Policies - Additional Information (Detail)	Mar. 31, 2018Country
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Number of countries	20

Business Combination Agreemen37

Business Combination Agreement with Chicago Bridge & Iron Company N.V. ("CB&I") - Additional Information (Detail)	Apr. 18, 2018USD ($)	Dec. 18, 2017USD ($)shares	Mar. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Business Acquisition [Line Items]
Business combination, ownership percentage		53.00%
Term facility outstanding Amount			$ 537,258,000	$ 536,977,000
Minimum fixed charge coverage ratio	1.50%
Other operating (income) expenses [Member] | Chicago Bridge & Iron Company N.V. [Member]
Business Acquisition [Line Items]
Business combinaton, associated cost			$ 11,000,000
Subsequent Event [Member]
Business Acquisition [Line Items]
Excess cash flow	75.00%
Decrease in excess cash flow	50.00%
Excess cash flow percentage depending on secured leverage ratio	25.00%
Repayment of term loan	$ 6,000,000
Commitment fee on the unused portion of credit agreement	0.50%
Letter of credit outstanding fronting fee percentage	0.25%
Debt instrument covenant minimum liquidity	$ 200,000,000
Subsequent Event [Member] | Federal Funds Rate [Member]
Business Acquisition [Line Items]
Base rate and applicable margin	0.50%
Subsequent Event [Member] | 30-day Eurodollar Rate [Member]
Business Acquisition [Line Items]
Base rate and applicable margin	1.00%
10.625% Senior Unsecured Notes Due 2024 [Member] | Subsequent Event [Member]
Business Acquisition [Line Items]
Redemption price percentage	100.00%
10.625% Senior Unsecured Notes Due 2024 [Member] | Subsequent Event [Member] | Mc Dermott Escrow One Incorporation And Mc Dermott Escrow Two Incorporation
Business Acquisition [Line Items]
Senior unsecured long-term borrowing	$ 1,300,000,000
Debt instrument interest rate	10.625%
Debt instrument maturity date	May 1, 2024
10.625% Senior Unsecured Notes Due 2024 [Member] | Subsequent Event [Member] | Escrow Agent [Member]
Business Acquisition [Line Items]
Senior unsecured notes indenture date	Apr. 18, 2018
Interest payment, maturity date	Jun. 29, 2018
Funds provided to pay interest on debt instrument deposited into segregated escrow account	$ 28,000,000
Maximum [Member] | Subsequent Event [Member] | Financial Letters of Credit [Member]
Business Acquisition [Line Items]
Letter of credit participation fee percentage	4.25%
Maximum [Member] | Subsequent Event [Member] | Performance Stand By Letters Of Credit [Member]
Business Acquisition [Line Items]
Letter of credit participation fee percentage	2.125%
Maximum [Member] | Subsequent Event [Member] | Eurodollar Rate [Member]
Business Acquisition [Line Items]
Base rate and applicable margin	4.25%
Maximum [Member] | Subsequent Event [Member] | Base Rate [Member]
Business Acquisition [Line Items]
Base rate and applicable margin	3.25%
Minimum [Member] | Subsequent Event [Member] | Financial Letters of Credit [Member]
Business Acquisition [Line Items]
Letter of credit participation fee percentage	3.75%
Minimum [Member] | Subsequent Event [Member] | Performance Stand By Letters Of Credit [Member]
Business Acquisition [Line Items]
Letter of credit participation fee percentage	1.875%
Minimum [Member] | Subsequent Event [Member] | Eurodollar Rate [Member]
Business Acquisition [Line Items]
Base rate and applicable margin	3.75%
Minimum [Member] | Subsequent Event [Member] | Base Rate [Member]
Business Acquisition [Line Items]
Base rate and applicable margin	2.75%
Minimum [Member] | 10.625% Senior Unsecured Notes Due 2024 [Member] | Subsequent Event [Member]
Business Acquisition [Line Items]
Term facility outstanding Amount	$ 350,000,000
Secured leverage ratio	100.00%
Term Facility [Member]
Business Acquisition [Line Items]
Senior secured long-term borrowing		$ 2,260,000,000
Term Facility [Member] | Subsequent Event [Member] | Eurodollar Rate [Member]
Business Acquisition [Line Items]
Base rate and applicable margin	5.00%
Term Facility [Member] | Subsequent Event [Member] | Base Rate [Member]
Business Acquisition [Line Items]
Base rate and applicable margin	4.00%
Term Facility [Member] | Subsequent Event [Member] | Floor Rate [Member]
Business Acquisition [Line Items]
Base rate and applicable margin	1.00%
Senior Secured Credit Facility
Business Acquisition [Line Items]
Deposited cash collateral account to secure reimbursement obligations		319,000,000
Senior Secured Credit Facility | Maximum [Member]
Business Acquisition [Line Items]
Senior secured long-term borrowing		310,000,000
Revolving Facility [Member]
Business Acquisition [Line Items]
Senior secured long-term borrowing		1,000,000,000
Letter of Credit Facility [Member]
Business Acquisition [Line Items]
Senior secured long-term borrowing		$ 1,390,000,000
Fiscal Quarter Ending on or Before September 30, 2019 [Member] | Subsequent Event [Member]
Business Acquisition [Line Items]
Maximum permitted leverage ratio	4.25%
Fiscal Quarter Ending December 31, 2019 [Member] | Subsequent Event [Member]
Business Acquisition [Line Items]
Maximum permitted leverage ratio	4.00%
Fiscal Quarter Ending After December 31, 2019 and on or Before December 31, 2020 [Member] | Subsequent Event [Member]
Business Acquisition [Line Items]
Maximum permitted leverage ratio	3.75%
Fiscal Quarter Ending After December 31, 2020 and on or Before December 31, 2021 [Member] | Subsequent Event [Member]
Business Acquisition [Line Items]
Maximum permitted leverage ratio	3.50%
Fiscal Quarter Ending after December 31, 2021 [Member] | Subsequent Event [Member]
Business Acquisition [Line Items]
Maximum permitted leverage ratio	3.25%
Chicago Bridge & Iron Company N.V. [Member]
Business Acquisition [Line Items]
Business combination, ownership percentage		47.00%
Business combination, number of McDermott's shares entitled for each share of CB&I owned | shares		2.47221
Chicago Bridge & Iron Company N.V. [Member] | Effect of Reverse Stock Split [Member]
Business Acquisition [Line Items]
Business combination, number of McDermott's shares entitled for each share of CB&I owned | shares		0.82407
Reverse stock split		three-to-one
Reverse stock split, conversion ratio		3

Revenue Recognition - Cumulativ

Revenue Recognition - Cumulative Effect of Revenue Recognition Accounting Change (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Revenues	$ 607,818	$ 519,431
Cost of operations	475,711	428,590
Operating Income	68,439	56,039
Provision for income taxes	20,715	10,771
Net income	34,122	$ 24,195
Current assets:
Contracts in progress	506,420		$ 621,411
Current liabilities:
Advance billings on contracts	40,207		32,252
Income taxes payable	40,670		34,562
Stockholders' equity:
Retained earnings (Accumulated deficit)	6,912		$ (48,221)
ASU 606 [Member]
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Revenues	607,818
Cost of operations	475,711
Operating Income	68,439
Provision for income taxes	20,715
Net income	35,189
Current assets:
Contracts in progress	506,420
Current liabilities:
Advance billings on contracts	40,207
Income taxes payable	40,670
Stockholders' equity:
Retained earnings (Accumulated deficit)	6,912
ASU 606 [Member] | Legacy GAAP [Member]
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Revenues	590,307
Cost of operations	459,991
Operating Income	66,648
Provision for income taxes	19,979
Net income	34,134
Current assets:
Contracts in progress	493,750
Current liabilities:
Advance billings on contracts	49,310
Income taxes payable	39,934
Stockholders' equity:
Retained earnings (Accumulated deficit)	(14,125)
ASU 606 [Member] | Adjustment [Member]
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Revenues	17,511
Cost of operations	15,720
Operating Income	1,791
Provision for income taxes	736
Net income	1,055
Current assets:
Contracts in progress	12,670
Current liabilities:
Advance billings on contracts	(9,103)
Income taxes payable	736
Stockholders' equity:
Retained earnings (Accumulated deficit)	$ 21,037

Revenue Recognition - Cumulat39

Revenue Recognition - Cumulative Effect of Revenue Recognition Accounting Change (Parenthetical) (Detail) $ in Millions	Jan. 01, 2018USD ($)
ASU 606 [Member]
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Cumulative catch-up adjustment to opening Retained earnings (Accumulated deficit)	$ 20

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2018USD ($)Project		Mar. 31, 2017USD ($)	Jan. 01, 2018USD ($)
Revenue Recognition Multiple Deliverable Arrangements [Line Items]
Remaining performance obligations	$ 3,386,673,000	[1]		$ 3,673,317,000
Unapproved change orders	110,000,000		$ 118,000,000
Unapproved change orders in RPOs	8,000,000		12,000,000
Revenues	$ 607,818,000		519,431,000
Number of projects accounted under deferred profit recognition policy | Project	0
Claims Revenue [Member]
Revenue Recognition Multiple Deliverable Arrangements [Line Items]
Revenues	$ 0
MEA [Member]
Revenue Recognition Multiple Deliverable Arrangements [Line Items]
Remaining performance obligations	2,021,000,000
MEA [Member] | Unconsolidated joint ventures [Member]
Revenue Recognition Multiple Deliverable Arrangements [Line Items]
Revenues	0		0
MEA [Member] | Claims Revenue [Member]
Revenue Recognition Multiple Deliverable Arrangements [Line Items]
Revenues	$ 10,000,000		$ 10,000,000
[1]	At March 31, 2018, approximately 48% of our RPOs were attributable to Saudi Aramco

Revenue Recognition - Summary o

Revenue Recognition - Summary of Changes to Remaining Performance Obligations (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018		Jan. 01, 2018	Dec. 31, 2017
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligations	$ 3,386,673	[1]	$ 3,673,317
Bookings from new contracts	193,170
Additions on existing contracts, net	128,004
Less: Amounts recognized in revenues	$ 607,818
Before ASC 606 Cumulative Effect Adjustment [Member] | ASU 606 [Member]
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligations				$ 3,901,443
ASC 606 Cumulative Effect Adjustment [Member] | ASU 606 [Member]
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligations			$ (228,126)
[1]	At March 31, 2018, approximately 48% of our RPOs were attributable to Saudi Aramco

Revenue Recognition - Summary42

Revenue Recognition - Summary of Changes to Remaining Performance Obligations (Parenthetical) (Detail)	Mar. 31, 2018
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Percentage of remaining performance obligations	100.00%
Saudi Aramco [Member]
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Percentage of remaining performance obligations	48.00%

Revenue Recognition - Summary43

Revenue Recognition - Summary of RPOs by Segment (Detail) - USD ($) $ in Thousands	Mar. 31, 2018		Jan. 01, 2018
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligations, Total	$ 3,386,673	[1]	$ 3,673,317
Remaining performance obligations, Percentage	100.00%
AEA [Member]
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligations, Total	$ 969,000
Remaining performance obligations, Percentage	28.00%
MEA [Member]
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligations, Total	$ 2,021,000
Remaining performance obligations, Percentage	60.00%
ASA [Member]
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligations, Total	$ 397,000
Remaining performance obligations, Percentage	12.00%
[1]	At March 31, 2018, approximately 48% of our RPOs were attributable to Saudi Aramco

Revenue Recognition - Summary44

Revenue Recognition - Summary of RPOs Expected Revenue Recognition (Detail) $ in Millions	Mar. 31, 2018USD ($)
Revenue Performance Obligation [Abstract]
Total RPOs, 2018	$ 1,826
Total RPOs, 2019	1,252
Total RPOs, Thereafter	$ 309

Use of Estimates - Additional I

Use of Estimates - Additional Information (Detail) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2018USD ($)Project	Mar. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Effect of changes in estimated project cost on operating results		$ 47
MEA and ASA [Member]
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Effect of changes in estimated project cost on operating results	$ 37
AEA [Member]
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Effect of changes in estimated project cost on operating results		5
Partial offset on estimated costs on project	2
MEA [Member]
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Effect of changes in estimated project cost on operating results	$ 30	16
Number of projects | Project	2
ASA [Member]
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Effect of changes in estimated project cost on operating results	$ 9	$ 26
Number of projects | Project	2
ASA [Member] | Ichthys Project [Member]
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Effect of changes in estimated project cost on operating results			$ (34)
ASA [Member] | Ichthys Project [Member] | Maximum [Member]
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Effect of additional estimated project costs On Income			$ (10)

Cash, Cash Equivalents and Re46

Cash, Cash Equivalents and Restricted Cash - Reconciliation of Cash, Cash Equivalents, and Restricted Cash (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
Cash And Cash Equivalents [Abstract]
Cash and cash equivalents	$ 412,725	$ 390,263
Restricted cash and cash equivalents	6,074	17,929
Total cash, cash equivalents and restricted cash shown in the Consolidated Statements of Cash Flows	$ 418,799	$ 408,192	$ 641,759	$ 612,333

Accounts Receivable - Contract

Accounts Receivable - Contract Receivables (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Accounts Notes And Loans Receivable [Line Items]
Contract receivables	$ 313,758	$ 225,974
Retainages	98,551	119,550
Accounts receivable—trade, net	395,073	328,302
Contract receivables [Member]
Accounts Notes And Loans Receivable [Line Items]
Less allowances	(17,236)	(17,222)
Accounts receivable—trade, net	$ 395,073	$ 328,302

Accounts Receivable - Retainage

Accounts Receivable - Retainages on Contracts (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Receivables [Abstract]
Retainages expected to be collected within one year	$ 98,551	$ 119,550
Retainages expected to be collected after one year	40,154	39,253
Total retainages	$ 138,705	$ 158,803

Contracts in Progress and Adv49

Contracts in Progress and Advance Billings on Contracts - Schedule of Contract Assets and Liabilities (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Contractors [Abstract]
Costs incurred less costs of revenues recognized	$ (3,228)	$ 98,127
Revenues recognized less billings to customers	509,648	523,284
Contracts in Progress, assets	506,420	621,411
Billings to customers less revenues recognized	28,279	45,661
Costs incurred less costs of revenues recognized	11,928	(13,409)
Advance billings on contracts	$ 40,207	$ 32,252

Contracts in Progress and Adv50

Contracts in Progress and Advance Billings on Contracts - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Contracts In Progress And Advance Billings On Contracts [Line Items]
Advance billings on contracts		$ 38
ASA Segment [Member]
Contracts In Progress And Advance Billings On Contracts [Line Items]
Revenues recognized due to changes in transaction price	$ 66

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($) $ in Millions	Apr. 09, 2018	Mar. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Unamortized debt issuance costs		$ 5	$ 5
Senior Secured Notes [Member]
Debt Instrument [Line Items]
Redemption price percentage	102.00%
Amended and Restated Credit Agreement [Member] | Letter of Credit Facility [Member] | Maximum [Member]
Debt Instrument [Line Items]
Letter of credit supported by cash collateral maximum amount		$ 122

Debt - Summary of Long-Term Deb

Debt - Summary of Long-Term Debt Obligations (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Long-term borrowing	$ 537,258	$ 536,977
Less: Amounts due within one year	24,264	24,264
Total long-term debt	512,994	512,713
Senior Notes [Member]
Debt Instrument [Line Items]
Long-term borrowing	495,383	495,000
Other, Including Capital Lease Obligation [Member]
Debt Instrument [Line Items]
Long-term borrowing	1,678	1,780
North Ocean 105 Construction Financing [Member]
Debt Instrument [Line Items]
Long-term borrowing	24,511	24,511
Vendor Equipment Financing [Member]
Debt Instrument [Line Items]
Long-term borrowing	$ 15,686	$ 15,686

Debt - Schedule of Available Ca

Debt - Schedule of Available Capacity Under Credit Agreement (Detail) - USD ($)		Mar. 31, 2018	Dec. 31, 2017
Letter of Credit Facility [Member]
Debt Instrument [Line Items]
Available capacity under current credit agreement	[1]	$ 510,000,000
Letters of credit utilized	[1]	390,000,000	$ 407,000,000
Revolving Credit Facility/Letters of Credit [Member]
Debt Instrument [Line Items]
Available capacity under current credit agreement		$ 300,000,000
[1]	Includes $19 million of financial letters of credit as of March 31, 2018 and as of December 31, 2017.

Debt - Schedule of Available 54

Debt - Schedule of Available Capacity Under Credit Agreement (Parenthetical) (Detail) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Financial Letters of Credit [Member]
Debt Instrument [Line Items]
Letters of credit utilized	$ 19	$ 19

Debt - Schedule of Uncommitted

Debt - Schedule of Uncommitted Bilateral Credit Facilities (Detail) - Uncommitted Bilateral Credit Facilities [Member] - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Bank Guarantee and Bilateral Letter of Credit [Member]
Debt Instrument [Line Items]
Available capacity under current credit agreement	$ 875,000,000	$ 725,000,000
Letters of credit utilized	545,000,000	572,000,000
Surety Bonds [Member]
Debt Instrument [Line Items]
Available capacity under current credit agreement	300,000,000	300,000,000
Letters of credit utilized	48,000,000	49,000,000
Bilateral Arrangements to Issue Cash Collateralized Letters Of Credit [Member]
Debt Instrument [Line Items]
Available capacity under current credit agreement	175,000,000	175,000,000
Letters of credit utilized	$ 6,000,000	$ 18,000,000

Pension and Postretirement Be56

Pension and Postretirement Benefits - Net Periodic Benefit Cost or Gain (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Domestic Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Interest cost	$ 4,433	$ 4,991
Expected return on plan assets	(4,672)	(4,907)
Net periodic benefit cost (gain)	(239)	84
TCN Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Interest cost		290
Expected return on plan assets	(11)	(345)
Net periodic benefit cost (gain)	$ (11)	$ (55)

Pension and Postretirement Be57

Pension and Postretirement Benefits - Additional Information (Detail) $ in Millions	Mar. 31, 2018USD ($)
Compensation And Retirement Disclosure [Abstract]
Total benefits remaining under the plan	$ 20

Derivative Financial Instrume58

Derivative Financial Instruments - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Net gain (loss) on derivative financial instruments	$ (1,586,000)	$ (1,816,000)
Net deferred losses expected to be reclassified from AOCI over next 12 months	(200,000)
Notional value of outstanding derivative contracts	$ 199,000,000
Derivative contracts, maturity date	Jun. 30, 2020
Fair value of derivative contracts	$ 1,000,000

Derivative Financial Instrume59

Derivative Financial Instruments - Derivative Financial Instruments (Detail) - Derivatives Designated as Hedges [Member] - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Derivatives Fair Value [Line Items]
Asset derivatives fair value	$ 1,844	$ 2,298
Liability derivatives fair value	933	618
Accounts receivable-other [Member]
Derivatives Fair Value [Line Items]
Asset derivatives fair value	1,788	2,232
Other assets [Member]
Derivatives Fair Value [Line Items]
Asset derivatives fair value	56	66
Other liabilities [Member]
Derivatives Fair Value [Line Items]
Liability derivatives fair value	8
Accounts payable [Member]
Derivatives Fair Value [Line Items]
Liability derivatives fair value	$ 925	$ 618

Derivative Financial Instrume60

Derivative Financial Instruments - Effects of Derivative Instruments on Financial Statements (Detail) - Derivatives Designated as Hedges [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Derivative Instruments Gain Loss [Line Items]
Amount of gain (loss) recognized in other comprehensive income (loss)	$ 481	$ 5,602
Cost of operations [Member]
Derivative Instruments Gain Loss [Line Items]
Gain reclassified from AOCI to Cost of operations	(238)	(3,515)
Other non-operating expense [Member]
Derivative Instruments Gain Loss [Line Items]
Ineffective portion and amount excluded from effectiveness testing: gain (loss) recognized in Other non-operating income (expense)	$ 310	$ 305

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Financial Instruments Outstanding Measured at Fair Value on Recurring and Nonrecurring Basis (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Carrying Amount [Member]
Recurring
Forward contracts	$ 911	$ 1,680
Financial instruments not measured at fair value
Debt	(537,258)	(536,977)
Fair value [Member]
Recurring
Forward contracts	911	1,680
Financial instruments not measured at fair value
Debt	(552,651)	(558,077)
Level 2 [Member]
Recurring
Forward contracts	911	1,680
Financial instruments not measured at fair value
Debt	(510,460)	(515,735)
Level 3 [Member]
Financial instruments not measured at fair value
Debt	$ (42,191)	$ (42,342)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Effective income tax rate	35.40%	27.70%

Stockholder's Equity - Changes

Stockholder's Equity - Changes in the Number of Shares Outstanding and Treasury Shares Held by the Company (Details) - shares	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Shares Outstanding [Abstract]
Beginning balance	284,026,820	241,388,277
Common stock issued	2,740,096	2,586,578
Purchase of common stock	(867,203)	(933,060)
Ending balance	285,899,713	243,041,795
Shares Held as Treasury Shares [Abstract]
Beginning balance	8,499,021	8,302,004
Purchase of common stock	867,203	933,060
Retirement of common stock	(858,682)	(787,267)
Ending balance	8,507,542	8,447,797
Common stock, shares issued	294,407,255	251,489,592	292,525,841

Stockholder's Equity - Componen

Stockholder's Equity - Components of Accumulated Other Comprehensive Income (Loss) included in Stockholders' Equity (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Stockholders Equity Note [Abstract]
Foreign currency translation adjustments ("CTA")	$ (49,621)	$ (49,025)
Net unrealized gain on investments	400	393
Net unrealized loss on derivative financial instruments	(1,586)	(1,816)
Accumulated other comprehensive loss	$ (50,807)	$ (50,448)

Stockholder's Equity - Compon65

Stockholder's Equity - Components of Accumulated Other Comprehensive Income (Loss) Reclassified (Detail) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance		$ 1,788,777
Net current period other comprehensive income		(359)
Ending Balance		1,838,953
Foreign Currency Translation Adjustments [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance		(49,025)	$ (42,082)
Other comprehensive income before reclassification		(596)	239
Net current period other comprehensive income		(596)	239
Ending Balance		(49,621)	(41,843)
Unrealized Holding Gain (Loss) on Investments [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance		393	269
Other comprehensive income before reclassification		7	19
Net current period other comprehensive income		7	19
Ending Balance		400	288
Gain (Loss) on Derivative [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance	[1]	(1,816)	(25,082)
Other comprehensive income before reclassification	[1]	481	5,602
Amounts reclassified from AOCI	[1],[2]	(251)	(3,449)
Net current period other comprehensive income	[1]	230	2,153
Ending Balance	[1]	(1,586)	(22,929)
Accumulated Other Comprehensive Income (Loss) [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance		(50,448)	(66,895)
Other comprehensive income before reclassification		(108)	5,860
Amounts reclassified from AOCI		(251)	(3,449)
Net current period other comprehensive income		(359)	2,411
Ending Balance		$ (50,807)	$ (64,484)
[1]	Refer to Note 10, Derivative Financial Instruments, for additional details
[2]	Reclassified to Cost of operations and Other non-operating income (expense), net

Earnings Per Share - Computatio

Earnings Per Share - Computation of Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Earnings Per Share [Abstract]
Net income attributable to McDermott	$ 35,189	$ 21,916
Weighted average common stock (basic)	284,658,938	241,829,988
Effect of dilutive securities:
Tangible equity units		38,000,936
Stock options, restricted stock and restricted stock units	391,586	2,454,671
Potential dilutive common stock	285,050,524	282,285,595
Net income per share attributable to McDermott
Basic:	$ 0.12	$ 0.09
Diluted:	$ 0.12	$ 0.08

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares shares in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Earnings Per Share [Abstract]
Antidilutive securities excluded from earnings per share computation, shares	1	2

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail)	Feb. 23, 2018Lawsuit	Mar. 31, 2018USD ($)Lawsuit
Commitments And Contingencies Disclosure [Line Items]
Potential environmental liabilities		$ 0
Asset retirement obligations		0
Liquidated damages exposure		1,000,000
Liabilities of liquidated damages		$ 0
Chicago Bridge & Iron Company N.V. [Member]
Commitments And Contingencies Disclosure [Line Items]
Number of shareholders filed seperate law suits under federal securities laws | Lawsuit		5
Number of actions allege violations | Lawsuit		5
Number of pending shareholder actions | Lawsuit	4

Segment Reporting - Additional

Segment Reporting - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2018Segment
Segment Reporting [Abstract]
Number of reportable segments	3
Number of operating segments	3

Segment Reporting - Information

Segment Reporting - Information about Operations in Different Segments (Detail) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017
Segment Reporting Information [Line Items]
Revenues		$ 607,818	$ 519,431
Operating income		68,439	56,039
Interest expense, net		(11,608)	(17,706)
Other non-operating income, net		1,719	560
Income before provision for income taxes		58,550	38,893
Capital expenditures	[1]	18,386	62,849
Depreciation and amortization	[2]	22,776	21,381
Operating Segments [Member]
Segment Reporting Information [Line Items]
Operating income		144,585	94,335
Operating Segments [Member] | AEA [Member]
Segment Reporting Information [Line Items]
Revenues		113,304	28,131
Operating income		53	183
Capital expenditures	[1]	2,524	5,251
Depreciation and amortization	[2]	7,302	4,013
Operating Segments [Member] | MEA [Member]
Segment Reporting Information [Line Items]
Revenues		345,123	310,052
Operating income		69,183	64,377
Capital expenditures	[1]	3,295	5,852
Depreciation and amortization	[2]	6,248	7,903
Operating Segments [Member] | ASA [Member]
Segment Reporting Information [Line Items]
Revenues		149,391	181,248
Operating income		75,349	29,775
Capital expenditures	[1]	3,039	3,512
Depreciation and amortization	[2]	7,426	7,575
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Operating income	[3]	(76,146)	(38,296)
Capital expenditures	[1],[4]	9,528	48,234
Depreciation and amortization	[2]	$ 1,800	$ 1,890
[1]	Liabilities associated with assets acquired during the first quarter of 2018 and 2017 were $10 million and $9 million, respectively.
[2]	Depreciation and amortization expense associated with our marine vessels is included in the respective segments in which the vessels were located as of the reporting date.
[3]	Corporate and Other operating results for the first quarter of 2018 and 2017 include approximately $14 million in restructuring costs and transaction costs related to the Combination and a $3 million gain on sale of assets, respectively.
[4]	Corporate and other capital expenditures in the first quarter of 2017 include the purchase of the Amazon, a pipelay and construction vessel. Following the purchase, we sold this vessel to an unrelated party and simultaneously entered into an 11-year bareboat charter agreement.

Segment Reporting - Informati71

Segment Reporting - Information about Operations in Different Segments (Parenthetical) (Detail) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017
Segment Reporting Information [Line Items]
Capital expenditures	[1]	$ 18,386	$ 62,849
Amazon Pipelay and Construction Vessel [Member]
Segment Reporting Information [Line Items]
Bareboat charter agreement, term			11 years
Liability Associated with Assets [Member]
Segment Reporting Information [Line Items]
Capital expenditures		10,000	$ 9,000
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Restructuring costs and transaction costs related to the combination		14,000	14,000
Gain on sale of assets		3,000	3,000
Capital expenditures	[1],[2]	$ 9,528	$ 48,234
[1]	Liabilities associated with assets acquired during the first quarter of 2018 and 2017 were $10 million and $9 million, respectively.
[2]	Corporate and other capital expenditures in the first quarter of 2017 include the purchase of the Amazon, a pipelay and construction vessel. Following the purchase, we sold this vessel to an unrelated party and simultaneously entered into an 11-year bareboat charter agreement.

Segment Reporting - Informati72

Segment Reporting - Information about Segment Assets by Country (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Segment Reporting Information [Line Items]
Total assets	$ 3,200,648	$ 3,222,820
Operating Segments [Member] | AEA [Member]
Segment Reporting Information [Line Items]
Total assets	960,102	921,171
Operating Segments [Member] | MEA [Member]
Segment Reporting Information [Line Items]
Total assets	955,054	1,020,599
Operating Segments [Member] | ASA [Member]
Segment Reporting Information [Line Items]
Total assets	923,226	887,209
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Total assets	$ 362,266	$ 393,841

Segment Reporting - Informati73

Segment Reporting - Information about Revenue by Service Lines and Contract Types (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Segment Reporting Revenue Reconciling Item [Line Items]
Revenues	$ 607,818	$ 519,431
Offshore [Member]
Segment Reporting Revenue Reconciling Item [Line Items]
Revenues	394,724	354,064
Subsea and Other [Member]
Segment Reporting Revenue Reconciling Item [Line Items]
Revenues	213,094	165,367
Fixed-Price [Member]
Segment Reporting Revenue Reconciling Item [Line Items]
Revenues	582,592	475,921
Unit-Basis and Other [Member]
Segment Reporting Revenue Reconciling Item [Line Items]
Revenues	$ 25,226	$ 43,510