Business Segments (Tables)

6 Months Ended

Jun. 30, 2019

Segment Reporting, Measurement Disclosures [Abstract]

Segment revenue and segment operating profit

Segment revenue and segment operating profit were as follows:

	Three Months Ended						Six Months Ended
	June 30,						June 30,
(In millions)	2019			2018			2019			2018
Segment revenue
Subsea	$	1,508.7		$	1,217.4		$	2,694.0		$	2,397.6
Onshore/Offshore	1,505.0			1,342.4			2,840.1			2,915.8
Surface Technologies	420.5			401.1			813.1			772.7
Total revenue	$	3,434.2		$	2,960.9		$	6,347.2		$	6,086.1
Segment operating profit
Subsea	$	94.6		$	75.9		$	144.5		$	130.3
Onshore/Offshore	274.0			171.3			429.7			374.2
Surface Technologies	25.5			51.5			36.0			82.1
Total segment operating profit	394.1			298.7			610.2			586.6
Corporate items
Corporate expense(a)	(138.9		)	(73.0		)	(232.5		)	(132.8		)
Net interest expense	(140.6		)	(50.9		)	(228.8		)	(138.3		)
Total corporate items	(279.5		)	(123.9		)	(461.3		)	(271.1		)
Income before income taxes(b)	$	114.6		$	174.8		$	148.9		$	315.5

(a) Corporate expense primarily includes corporate staff expenses, legal reserve, share-based compensation expenses, other employee benefits, certain foreign exchange gains and losses, and merger transaction and integration expenses.

(b)

Includes amounts attributable to noncontrolling interests.

Segment operating capital employed and segment assets

Segment assets were as follows:

(In millions)	June 30, 2019			December 31, 2018
Segment assets
Subsea	$	12,237.1		$	11,037.8
Onshore/Offshore	4,311.8			4,355.2
Surface Technologies	2,988.2			2,825.6
Intercompany eliminations	(29.7		)	(26.4		)
Total segment assets	19,507.4			18,192.2
Corporate (a)	6,005.3			6,592.3
Total assets	$	25,512.7		$	24,784.5

(a)

Corporate includes cash, deferred income tax balances, legal provisions, property, plant and equipment not associated with a specific segment, pension assets, the fair value of derivative financial instruments, and LIFO adjustments.