STOCKHOLDERS’ EQUITY

Cash dividends declared per share during the three and nine months ended September 30, 2018 were $0.13 and $0.39. There were no cash dividends declared during the three and nine months ended September 30, 2017.

Cash dividends paid during the nine months ended September 30, 2018 for dividends declared on February 20, 2018, April 24, 2018 and July 24, 2018 were $179.2 million. There were no cash dividends paid during the nine months ended September 30, 2017.

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, 2018, we had distributable reserves in excess of $9.5 billion.

In April 2017, the Board of Directors authorized the repurchase of up to $500.0 million in ordinary shares under our share repurchase program. We implemented our share repurchase program in September 2017, and we repurchased 12.3 million of ordinary shares for a total consideration of $384.2 million during the nine months ended September 30, 2018 under this 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 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, 2017	$	(1,014.6	)	$	27.8		$	(16.9	)	$	(1,003.7	)	$	0.6
Other comprehensive income (loss) before reclassifications, net of tax	(241.8		)	(21.0		)	0.3			(262.5		)	0.8
Reclassification adjustment for net losses (gains) included in net income, net of tax	(41.1		)	(7.2		)	0.6			(47.7		)	—
Other comprehensive income (loss), net of tax	(282.9		)	(28.2		)	0.9			(310.2		)	0.8
September 30, 2018	$	(1,297.5	)	$	(0.4	)	$	(16.0	)	$	(1,313.9	)	$	1.4

Reclassifications out of accumulated other comprehensive loss consisted of the following:



	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(In millions)	2018			2017			2018			2017
Details about Accumulated Other Comprehensive Income (loss) Components	Amount Reclassified out of Accumulated Other Comprehensive Loss												Affected Line Item in the Condensed Consolidated Statements of Income
Gains on foreign currency translation	$	41.1		$	—		$	41.1		$	—		Other income (expense), net

Gains (losses) on hedging instruments
Foreign exchange contracts	$	(0.8	)	$	(6.3	)	$	2.8		$	(31.6	)	Revenue
	1.1			0.2			6.2			1.7			Cost of sales
	(0.1		)	0.5			(0.1		)	0.7			Selling, general and administrative expense
	—			—			—			(0.1		)	Research and development expense
	4.8			(20.4		)	0.1			(70.6		)	Other income (expense), net
	5.0			(26.0		)	9.0			(99.9		)	Income before income taxes
	1.2			(6.3		)	1.8			(25.6		)	Provision for income taxes (Note 16)
	$	3.8		$	(19.7	)	$	7.2		$	(74.3	)	Net income
Pension and other post-retirement benefits
Amortization of actuarial gain (loss)	$	—		$	(0.7	)	$	—		$	(1.9	)	(a)
Amortization of prior service credit (cost)	(0.3		)	(0.3		)	(0.6		)	(0.6		)	(a)
	(0.3		)	(1.0		)	(0.6		)	(2.5		)	Income before income taxes
	—			(0.3		)	—			(0.7		)	Provision for income taxes (Note 16)
	$	(0.3	)	$	(0.7	)	$	(0.6	)	$	(1.8	)	Net income


(a)	These accumulated other comprehensive income components are included in the computation of net periodic pension cost.