STOCKHOLDERS’ EQUITY

Dividends declared and paid during the year ended December 31, 2018 were $238.1 million.

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.

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). The declaration and payment of dividends require the authorization of our Board of Directors, provided that such dividends on issued share capital may be paid only out of our “distributable reserves” on our statutory balance sheet. Therefore, we are not permitted to pay dividends out of share capital, which includes share premium.

The following is a summary of our capital stock activity for the years ended December 31, 2018, 2017 and 2016:



(Number of shares in millions)	Ordinary Shares Issued		Ordinary Shares Held in Employee Benefit Trust	Treasury Stock
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 cancellation	(2.1	)	—	(2.1	)
Net stock purchased for employee benefit trust	—		0.1	—
December 31, 2017	465.1		0.1	—
Net capital increase as per merger	—		—	—
Stock awards	0.2		—	—
Treasury stock purchases	—		—	14.8
Treasury stock cancellation	(14.8	)	—	(14.8	)
Net stock purchased for employee benefit trust	—		—	—
December 31, 2018	450.5		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 a subsidiary.

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. The Board of Directors authorized an extension of this program, adding $300.0 million in December 2018 for a total of $800.0 million in ordinary shares. We repurchased 14.8 million of ordinary shares for a total consideration of $442.6 million during the year ended December 31, 2018, under our authorized share repurchase program. The $500.0 million part of the program was completed on December 20, 2018. 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, 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
Other comprehensive income (loss) before reclassifications, net of tax	(178.7		)	(58.7		)	(74.5		)	(311.9		)	(4.6		)
Reclassification adjustment for net (gains) losses included in net income, net of tax	(41.1		)	(2.0		)	(1.0		)	(44.1		)	—
Other comprehensive income (loss), net of tax	(219.8		)	(60.7		)	(75.5		)	(356.0		)	(4.6		)
December 31, 2018	$	(1,234.4	)	$	(32.9	)	$	(92.4	)	$	(1,359.7	)	$	(4.0	)

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, 2018			December 31, 2017			December 31, 2016
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 on foreign currency translation	$	41.1		$	—		—			Other income (expense), net

Gains (losses) on hedging instruments
Foreign exchange contracts	$	(2.4	)	$	(39.3	)	$	—		Revenue
	3.4			5.3			—			Costs of sales
	(0.1		)	0.8			—			Selling, general and administrative expense
	1.0			(102.2		)	(165.7		)	Other (expense), net
	1.9			(135.4		)	(165.7		)	Income before income taxes
	(0.1		)	(34.2		)	(45.6		)	Provision (benefit) for income taxes
	$	2.0		$	(101.2	)	$	(120.1	)	Net income

Pension and other post-retirement benefits
Settlements and curtailments	$	3.0		$	25.3		$	10.7		(a)
Amortization of actuarial gain (loss)	(0.6		)	(2.5		)	(1.0		)	(a)
Amortization of prior service credit (cost)	(1.3		)	(1.0		)	(0.7		)	(a)
	1.1			21.8			9.0			Income before income taxes
	0.1			9.1			2.8			Provision (benefit) for income taxes
	$	1.0		$	12.7		$	6.2		Net income


(a)	These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 20 for additional details).