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Stockholders' Equity
 12 Months Ended
Dec. 31, 2017
Stockholders' Equity Note [Abstract]  
STOCKHOLDERS' EQUITY
STOCKHOLDERS’ EQUITY
Dividends declared and paid during the year ended December 31, 2017 were $60.6 million.
Dividends declared and paid during the year ended December 31, 2016 based on the results of the year ended December 31, 2015 were €236.6 million. The dividends were paid in cash and shares in the amount of €100.8 million and €135.8 million, respectively.
Dividends declared and paid during the year ended December 31, 2015 based on the results of the year ended December 31, 2014 were €225.8 million. The dividends were paid in cash and shares in the amount of €88.9 million and €136.9 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 December 31, 2017 we had distributable reserves in excess of $10.1 billion.
The following is a summary of our capital stock activity for the years ended December 31, 2017, 2016 and 2015:
(Number of shares in millions)
Ordinary
Shares Issued
 
Ordinary Shares
Held in 
Employee
Benefit Trust
 
Treasury Stock
December 31, 2014
113.9

 
—

 
1.4

Stock awards
0.6

 
—

 
(0.5
)
Treasury stock purchases
—

 
—

 
—

Capital increase reserved for employees
1.9

 
—

 
—

Shares acquired pursuant to liquidity contract
—

 
—

 
1.3

Shares sold pursuant to liquidity contract
—

 
—

 
(1.4
)
Dividend payment in shares
2.6

 
—

 
—

December 31, 2015
119.0

 
—

 
0.8

Stock awards
0.2

 
—

 
(0.4
)
Treasury stock purchases
—

 
—

 
3.2

Dividend payment in shares
3.2

 
—

 
—

Shares acquired pursuant to liquidity contract
—

 
—

 
1.3

Shares sold pursuant to liquidity contract
—

 
—

 
(1.4
)
Cancellation of treasury shares
(3.2
)
 
—

 
(3.2
)
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
—

 
—

 
2.1

Treasury stock cancellations
(2.1
)
 
—

 
(2.1
)
Net stock purchased for employee benefit trust
—

 
0.1

 
—

December 31, 2017
465.1

 
0.1

 
—


The plan administrator of the Non-Qualified Plan purchases shares of our ordinary shares on the open market. Such shares are placed in a trust owned by FMC Technologies.
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 $58.5 million of ordinary shares during the year ended December 31, 2017, under our authorized share repurchase program. 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 income (loss)—Accumulated other comprehensive income (loss) consisted of the following:
(In millions)
Foreign Currency
Translation
 
Hedging
 
Defined Pension 
and Other
Post-Retirement Benefits
 
Accumulated Other
Comprehensive Loss Attributable to TechnipFMC plc
 
Accumulated Other
Comprehensive Loss Attributable to Non-controlling interest
December 31, 2015
$
(855.3
)
 
$
(181.5
)
 
$
(48.2
)
 
$
(1,085.0
)
 
$
(1.1
)
Other comprehensive income (loss) before reclassifications, net of tax
(71.8
)
 
(65.7
)
 
7.0

 
(130.5
)
 
1.3

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

 
120.1

 
(6.2
)
 
113.9

 
—

Other comprehensive income (loss), net of tax
(71.8
)
 
54.4

 
0.8

 
(16.6
)
 
1.3

December 31, 2016
(927.1
)
 
(127.1
)
 
(47.4
)
 
(1,101.6
)
 
0.2

Other comprehensive income (loss) before reclassifications, net of tax
(87.5
)
 
53.7

 
43.2

 
9.4

 
0.4

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

 
101.2

 
(12.7
)
 
88.5

 
—

Other comprehensive income (loss), net of tax
(87.5
)
 
154.9

 
30.5

 
97.9

 
0.4

December 31, 2017
$
(1,014.6
)
 
$
27.8

 
$
(16.9
)
 
$
(1,003.7
)
 
$
0.6



Reclassifications out of accumulated other comprehensive income (loss)—Reclassifications out of accumulated other comprehensive income (loss) consisted of the following:
 
 
Year Ended
 
 
(In millions)
 
December 31, 2017
 
December 31, 2016
 
December 31, 2015
 
 
Details about Accumulated Other Comprehensive Loss Components
 
Amount Reclassified out of Accumulated Other Comprehensive Loss
 
Affected Line Item in the Consolidated Statement of Income
Gains (losses) on hedging instruments
 
 
 
 
 
 
 
 
Foreign exchange contracts:
 
$
(39.3
)
 
$
—

 
$
—

 
Revenue
 
 
5.3

 
—

 
—

 
Costs of sales
 
 
0.8

 
—

 
—

 
Selling, general and administrative expense
 
 
(102.2
)
 
(165.7
)
 
(93.6
)
 
Other (expense), net
 
 
(135.4
)
 
(165.7
)
 
(93.6
)
 
Income before income taxes
 
 
(34.2
)
 
(45.6
)
 
(25.8
)
 
Provision (benefit) for income taxes
 
 
$
(101.2
)
 
$
(120.1
)
 
$
(67.8
)
 
Net income
 
 
 
 
 
 
 
 
 
Defined pension and other post-retirement benefits
 
 
 
 
 
 
 
 
Settlements and curtailments
 
$
25.3

 
$
10.7

 
$
—

 
(a) 
Amortization of actuarial gain (loss)
 
(2.5
)
 
(1.0
)
 
(3.7
)
 
(a) 
Amortization of prior service credit (cost)
 
(1.0
)
 
(0.7
)
 
(0.7
)
 
(a) 
 
 
21.8

 
9.0

 
(4.4
)
 
Income before income taxes
 
 
9.1

 
2.8

 
(1.3
)
 
Provision (benefit) for income taxes
 
 
$
12.7

 
$
6.2

 
$
(3.1
)
 
Net income
_______________________
(a) 
These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 18 for additional details).