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Stockholders' Equity
 9 Months Ended
Sep. 30, 2017
Stockholders' Equity Note [Abstract]  
Stockholders' Equity
STOCKHOLDERS’ EQUITY
There were no cash dividends declared during the nine months ended September 30, 2017 and 2016.
Dividends paid during the nine months ended September 30, 2016 for dividends declared for the year ended December 31, 2015 were €236.6 million. The dividends were paid partially in cash and shares. Dividends paid in cash and shares were €100.8 million and €135.8 million, respectively.
As an English public limited company, we are required under U.K. law to have available “distributable reserves” to conduct share repurchases or pay dividends to shareholders. Distributable reserves are a statutory requirement and are not linked to a U.S. GAAP reported amount (e.g. retained earnings). As of September 30, 2017 we had distributable reserves in excess of $10.1 billion.
The following is a summary of our capital stock activity for the nine months ended September 30, 2017 and 2016:
(Number of shares in millions)
Ordinary Shares Issued
 
Ordinary Shares
Held in 
Employee
Benefit Trust
 
Treasury Stock
Balance as of December 31, 2015
119.0

 
—

 
0.8

Stock awards
0.1

 
—

 
(0.3
)
Treasury stock purchases
—

 
—

 
2.6

Dividends paid
3.2

 
—

 
—

Balance as of September 30, 2016
122.3

 
—

 
3.1

 
 
 
 
 
 
Balance as of December 31, 2016
119.2

 
—

 
0.3

Net capital increases due to the merger of FMC Technologies and Technip
347.4

 
—

 
—

Stock awards
0.6

 
—

 
—

Treasury stock cancellation due to the merger of FMC Technologies and Technip
—

 
—

 
(0.3
)
Treasury stock purchases
—

 
—

 
0.1

Treasury stock cancellations
(0.1
)
 
—

 
(0.1
)
Net stock purchased for (sold from) employee benefit trust
—

 
0.1

 
—

Balance as of September 30, 2017
467.1

 
0.1

 
—


In April 2017, the Board of Directors authorized the repurchase of $500.0 million in ordinary shares under our share repurchase program. We implemented our share repurchase plan in September 2017. We repurchased $3.6 million of ordinary shares during the nine months ended September 30, 2017 under our authorized share repurchase program. Based upon the remaining share authorization amount and the closing stock price as of September 30, 2017, approximately 18.4 million ordinary shares could be subject to repurchase. We intend to cancel repurchased shares and not hold them in treasury. Canceled treasury shares are accounted for using the constructive retirement method.
Accumulated other comprehensive loss consisted of the following: 
(In millions)
Foreign Currency
Translation
 
Available-For-Sale Securities
 
Hedging Instruments
 
Defined Pension and Other Post-retirement Benefits
 
Accumulated Other
Comprehensive Loss
Accumulated other comprehensive loss as of December 31, 2016
$
(849.8
)
 
$
—

 
$
(126.9
)
 
$
(80.7
)
 
$
(1,057.4
)
Other comprehensive income (loss) before reclassifications, net of tax
(34.7
)
 
—

 
74.9

 
(4.0
)
 
36.2

Reclassification adjustment for net losses (gains) included in net income, net of tax
—

 
—

 
74.3

 
1.8

 
76.1

Other comprehensive income (loss), net of tax
(34.7
)
 
—

 
149.2

 
(2.2
)
 
112.3

Accumulated other comprehensive income (loss)
(884.5
)
 
—

 
22.3

 
(82.9
)
 
(945.1
)
Accumulated other comprehensive income attributable to noncontrolling interest
(0.7
)
 
—

 
—

 
—

 
(0.7
)
Accumulated other comprehensive income (loss) attributable to TechnipFMC as of September 30, 2017
$
(885.2
)
 
$
—

 
$
22.3

 
$
(82.9
)
 
$
(945.8
)
Reclassifications out of accumulated other comprehensive loss consisted of the following:
 
 
Three Months Ended
 
Nine Months Ended
 
 
(In millions)
 
September 30, 2017
 
September 30, 2016
 
September 30, 2017
 
September 30, 2016
 
 
Details about Accumulated Other Comprehensive Loss Components
 
Amount Reclassified out of Accumulated Other
Comprehensive Loss
 
Affected Line Item in the Condensed Consolidated Statements of Income
Gains (losses) on available-for-sale securities
 
$
—

 
$
—

 
$
—

 
$
—

 
Other expense, net
 
 
 
 
 
 
 
 
 
 
 
Gains (losses) on hedging instruments
 
 
 
 
 
 
 
 
 
 
Foreign exchange contracts:
 
$
(6.3
)
 
$
—

 
$
(31.6
)
 
$
—

 
Revenue
 
 
0.2

 
—

 
1.7

 
—

 
Cost of sales
 
 
0.5

 
—

 
0.7

 
—

 
Selling, general and administrative expense
 
 
—

 
—

 
(0.1
)
 
—

 
Research and development expense
 
 
(20.4
)
 
(18.1
)
 
(70.6
)
 
(107.9
)
 
Other (expense), net
 
 
(26.0
)
 
(18.1
)
 
(99.9
)
 
(107.9
)
 
Income before income taxes
 
 
(6.3
)
 
(4.3
)
 
(25.6
)
 
(31.5
)
 
Provision (benefit) for income taxes
 
 
$
(19.7
)
 
$
(13.8
)
 
$
(74.3
)
 
$
(76.4
)
 
Net income
Defined pension and other post-retirement benefits
 
 
 
 
 
 
 
 
 
 
Amortization of actuarial gain (loss)
 
$
(0.7
)
 
$
(0.2
)
 
$
(1.9
)
 
$
(0.7
)
 
(a) 
Amortization of prior service credit (cost)
 
(0.3
)
 
(0.2
)
 
(0.6
)
 
(0.6
)
 
(a) 
 
 
(1.0
)
 
(0.4
)
 
(2.5
)
 
(1.3
)
 
Income before income taxes
 
 
(0.3
)
 
(0.1
)
 
(0.7
)
 
(0.4
)
 
Provision (benefit) for income taxes
 
 
$
(0.7
)
 
$
(0.3
)
 
$
(1.8
)
 
$
(0.9
)
 
Net income
_______________________
(a)
These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 15 for additional details).