Business Combination Transactions (Tables)

9 Months Ended

Sep. 30, 2018

The acquisition-date fair value of the consideration transferred consisted of the following:



(In millions, except per share data)
Total FMC Technologies, Inc. shares subject to exchange as of January 16, 2017	228.9
FMC Technologies Inc. exchange ratio^(a)	0.5
Shares of TechnipFMC issued	114.4
Value per share of Technip as of January 16, 2017^(b)	$	71.4
Total purchase consideration	$	8,170.7

(a)

As the calculation is deemed to reflect a share capital increase of the accounting acquirer, the FMC Technologies exchange ratio (1 share of TechnipFMC for 1 share of FMC Technologies as provided in the Merger Agreement) is adjusted by dividing the FMC Technologies exchange ratio by the Technip exchange ratio (2 shares of TechnipFMC for 1 share of Technip as provided in the Merger Agreement), i.e., 1 / 2 = 0.5 in order to reflect the number of shares of Technip that FMC Technologies stockholders would have received if Technip were to have issued its own shares.


(b)	Closing price of Technip’s ordinary shares on Euronext Paris on January 16, 2017 in Euro converted at the Euro to U.S. dollar exchange rate of $1.0594 on January 16, 2017.

Schedule of assets acquired and liabilities assumed

The following table summarizes the final allocation of the fair values of the assets acquired and liabilities assumed at the acquisition date:



(In millions)
Assets
Cash	$	1,479.2
Accounts receivable	647.8
Costs and estimated earnings in excess of billings on uncompleted contracts	599.6
Inventory	764.8
Income taxes receivable	139.2
Other current assets	282.2
Property, plant and equipment	1,293.3
Intangible assets	1,390.3
Other long-term assets	167.3
Total identifiable assets acquired	6,763.7
Liabilities
Short-term and current portion of long-term debt	319.5
Accounts payable, trade	386.0
Billings in excess of costs and estimated earnings on uncompleted contracts	454.0
Income taxes payable	92.1
Other current liabilities	524.3
Long-term debt, less current portion	1,444.2
Accrued pension and other post-retirement benefits, less current portion	195.5
Deferred income taxes	219.4
Other long-term liabilities	138.7
Total liabilities assumed	3,773.7
Net identifiable assets acquired	2,990.0
Goodwill	5,180.7
Net assets acquired	$	8,170.7

Schedule of segment allocation of goodwill

The final allocation of goodwill to the reporting segments based on the final valuation is as follows:



(In millions)	Allocated Goodwill
Subsea	$	2,527.7
Onshore/Offshore	1,635.5
Surface Technologies	1,017.5
Total	$	5,180.7

Schedule of acquired identifiable intangible assets

The identifiable intangible assets acquired include the following:



(In millions, except estimated useful lives)	Fair Value		Estimated Useful Lives
Acquired technology	$	240.0	10
Backlog	175.0		2
Customer relationships	285.0		10
Tradenames	635.0		20
Software	55.3		Various
Total identifiable intangible assets acquired	$	1,390.3

Schedule of pro forma impact of the merger

The following unaudited supplemental pro forma results present consolidated information as if the Merger had been completed as of January 1, 2017. The pro forma results do not include any potential synergies, cost savings or other expected benefits of the Merger. Accordingly, the pro forma results should not be considered indicative of the results that would have occurred if the Merger had been consummated as of January 1, 2017, nor are they indicative of future results.



	Three Months Ended September 30,		Nine Months Ended September 30,
(In millions, except per share data)	2017 Actual		2017 Pro Forma
Revenue	$	4,140.9	$	11,486.8
Net income attributable to TechnipFMC adjusted for dilutive effects	$	121.0	$	182.4
Diluted earnings per share	0.26		0.39