Equity Method Investments (Tables)

12 Months Ended

Dec. 31, 2017

Equity Method Investments and Joint Ventures [Abstract]

Equity method investments

The following table presents summarized financial information of the equity method investments:

(In millions)	2016 (1)			2015
As of December 31
Current assets	$	619.2		$	4,769.3
Noncurrent assets	2,176.1			1,587.2
Current liabilities	796.9			4,853.7
Noncurrent liabilities	1,355.0			925.6
Year ended December 31
Revenues	$	6,782.9		$	5,426.1
Gross profit	461.0			721.8
Net income (loss)	(348.4		)	561.1

⁽¹⁾ As discussed above, in the fourth quarter of 2016, we obtained the voting control interests of legal Onshore/Offshore entities that own and account for the design, engineering and construction of Yamal. As a result of the acquisition and consolidation, we recorded $3.5 billion in cash, $601.7 million in advances to suppliers, $71.1 million in intangibles, $3.8 billion in current liabilities, $191.2 million in noncurrent liabilities, and a $7.7 million gain.

⁽²⁾ As of December 31, 2017, our equity method investments were no longer significant individually or in the aggregate. As such, summarized financial information for 2017 is not presented.

Our income (loss) from equity affiliates included in each of our reporting segments was as follows:

	Year Ended December 31,
(In millions)	2017		2016		2015
Subsea	$	55.3	$	35.0	$	21.2
Onshore/Offshore	0.3		82.7		29.8
Surface Technologies	—		—		—
Income from equity affiliates	$	55.6	$	117.7	$	51.0

Our equity investments were as follows as of December 31, 2017:

	December 31, 2017
	Percentage Owned		Carrying Value
Technip Odebrecht PLSV CV	50.0	%	111.4
Dofcon Brasil AS	50.0	%	74.1
Serimax Holdings SAS	20.0	%	25.1
FSTP Brasil Ltda	25.0	%	21.5
Other			40.4
Investments in equity affiliates			272.5