McDermott International, Inc. (MDR) financial statements (2022 and earlier)

Company profile

Business Address 777 N. ELDRIDGE PARKWAY
State of Incorp.
Fiscal Year End December 31
SIC 3443 - Fabricated Plate Work (Boiler Shops) (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

Current Assets
Cash, cash equivalents, and short-term investments 520390596665665
Cash and cash equivalents 520390596665665
Restricted cash and investments 3251816117188
Receivables 1,107369371275260
Inventory, net of allowances, customer advances and progress billings 101    
Inventory 101    
Contract with customer, asset 704
Disposal group, including discontinued operation     14
Costs in excess of billings621319436358
Other current assets 13936303551
Other undisclosed current assets 137  8(28)
Total current assets: 3,0331,4341,3321,5351,508
Noncurrent Assets
Property, plant and equipment 2,0671,6661,6871,6111,643
Long-term investments and receivables 45281727178
Long-term investments 4528172740
Accounts and financing receivable, after allowance for credit loss     137
Intangible assets, net (including goodwill) 3,663    
Goodwill 2,654    
Intangible assets, net (excluding goodwill) 1,009    
Regulated entity, other noncurrent assets  51420 
Deferred costs     40
Other noncurrent assets 16358374998
Other undisclosed noncurrent assets 6252135146(22)
Total noncurrent assets: 6,4071,7891,8901,8521,936
TOTAL ASSETS: 9,4403,2233,2223,3873,444
Current Liabilities
Accounts payable and accrued liabilities 2,159650469635614
Accounts payable 595279173280252
Accrued liabilities 1,564337278331337
Taxes payable  35182425
Debt 3124482527
Accrued environmental loss contingencies     4
Billings in excess of cost32192165 
Deferred tax liabilities    20
Contract with customer, liability1,954
Other undisclosed current liabilities 73  17196
Total current liabilities: 4,217707709841861
Noncurrent Liabilities
Long-term debt and lease obligation, including: 3,459513704819865
Long-term debt, excluding current maturities 3,393513   
Capital lease obligations66    
Other undisclosed long-term debt and lease obligation   704819865
Liabilities, other than long-term debt 711214213180179
Accounts payable and accrued liabilities  63615349
Deferred tax liabilities, net47    
Liability, pension and other postretirement and postemployment benefits  14192418
Other liabilities 6641211168595
Self insurance reserve  16171917
Total noncurrent liabilities: 4,1707279179991,044
Total liabilities: 8,3871,4341,6271,8401,905
Temporary equity, carrying amount 230    
Stockholders' equity
Stockholders' equity attributable to parent, including: 8001,7611,5561,4871,488
Common stock 183293250247245
Treasury stock, value (96)(96)(95)(92)(96)
Additional paid in capital 3,5391,6631,6951,6873
Accumulated other comprehensive loss (107)(50)(67)(94)(98)
Accumulated deficit (2,719)(48)(227)(261)(240)
Other undisclosed stockholders' equity attributable to parent     1,674
Stockholders' equity attributable to noncontrolling interest 2328396051
Total stockholders' equity: 8231,7891,5951,5471,539
TOTAL LIABILITIES AND EQUITY: 9,4403,2233,2223,3873,444

Income statement (P&L) ($ in millions)

Revenues 6,7052,9852,6363,0702,301
Cost of revenue (6,187)(2,449)(2,250)(2,691)(2,113)
Cost of goods and services sold (6,187)    
Gross profit: 518535386379188
Operating expenses (2,470)(204)(233)(225)(310)
Other operating expense, net (3)(7)   
Other undisclosed operating income (loss) (301) (11)(62)131
Operating income (loss): (2,256)324142919
Nonoperating expense (315)(64)(60)(48)(54)
Other nonoperating income (expense) (56)(1)42(0)
Interest and debt expense     (23)
Other undisclosed income from continuing operations before equity method investments, income taxes     23
Income (loss) from continuing operations before equity method investments, income taxes: (2,571)2608243(45)
Loss from equity method investments  (14)(4) (8)
Other undisclosed income from continuing operations before income taxes  144  
Income (loss) from continuing operations before income taxes: (2,571)2608243(53)
Income tax expense (104)(69)(42)(52)(20)
Other undisclosed income from continuing operations     8
Income (loss) before gain (loss) on sale of properties: (2,675)19140(9)(65)
Other undisclosed net loss (3)(14)(4)  
Net income (loss): (2,678)17736(9)(65)
Net income (loss) attributable to noncontrolling interest (9)1(2)(9)(11)
Net income (loss) attributable to parent: (2,687)17934(18)(76)
Preferred stock dividends and other adjustments (3)    
Other undisclosed net loss available to common stockholders, basic (1)    
Net income (loss) available to common stockholders, diluted: (2,691)17934(18)(76)

Comprehensive Income ($ in millions)

Net income (loss): (2,678)17736(9)(65)
Other comprehensive income (loss) (56)16274(50)
Comprehensive income (loss): (2,734)19463(5)(116)
Comprehensive income (loss), net of tax, attributable to noncontrolling interest (9)1(2)(9)(11)
Comprehensive income (loss), net of tax, attributable to parent: (2,743)19561(14)(126)

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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