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Basis of Presentation and Summary of Significant Accounting Policies
12 Months Ended
Dec. 31, 2016
Accounting Policies [Abstract]  
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Nature of operations—TechnipFMC plc (“TechnipFMC”) did not commence operations, had no significant assets or liabilities and did not conduct any business activities other than those incidental to its formation and matters contemplated by the definitive Business Combination Agreement (the “Business Combination Agreement”) during the period from December 9, 2015, TechnipFMC’s date of incorporation, to December 31, 2016. TechnipFMC is a wholly-owned subsidiary of FMC Technologies, Inc. (“FMCTI”).
Basis of presentation—The consolidated financial statements were prepared in U.S. dollars and in accordance with U.S. generally accepted accounting principles (“GAAP”).
Use of estimates—The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions to be made that may affect the assessment and disclosure of assets and liabilities at the date of the financial statements, as well as the income and the reported expenses regarding this financial year. Estimates may be revised if the circumstances and the assumptions on which they were based change, if new information becomes available, or as a result of greater experience. Consequently, the actual result from operations may differ from these estimates.
Cash equivalents—Cash equivalents are highly-liquid, short-term instruments with original maturities of three months or less from their date of purchase.

Foreign Currency —Foreign currency transactions are translated into the functional currency at the exchange rate applicable on the transaction date. At the closing date, monetary assets and liabilities stated in foreign currencies are translated into the functional currency at the exchange rate prevailing on that date. Resulting exchange gains or losses are directly recorded in the income statement, except exchange gains or losses on cash accounts eligible for future cash flow hedging and for hedging on net foreign currency investments.

Fair Value Measurement—Due to their short maturities, the fair value of cash, cash equivalents, receivables and payables are considered as being equivalent to carrying value.
Earnings per common share (“EPS”)—Basic EPS is computed using the weighted-average number of common shares outstanding during the year. TechnipFMC has 50,001 shares outstanding, consisting of one ordinary share carrying a single vote and 50,000 non-voting redeemable shares. The redeemable shares are not entitled to any economics rights. Refer to Note 5 for additional disclosure related to these shares.