Revenue (Tables)

9 Months Ended

Sep. 30, 2019

Revenue from Contract with Customer [Abstract]

Disaggregation of revenue

The following tables present products and services revenue by geography for each reportable segment for the three and nine months ended September 30, 2019 and 2018:

	Reportable Segments
	Three Months Ended
	September 30, 2019						September 30, 2018
(In millions)	Subsea		Onshore/ Offshore		Surface Technologies		Subsea		Onshore/ Offshore		Surface Technologies
Europe, Russia, Central Asia	$	390.8	$	682.4	$	55.5	$	421.4	$	831.5	$	66.0
America	513.1		156.9		171.0		437.4		89.4		208.3
Asia Pacific	171.0		311.7		50.3		118.2		300.6		34.1
Africa	143.6		158.6		14.9		162.5		54.8		16.3
Middle East	81.2		286.7		61.7		38.8		256.2		47.6
Total products and services revenue	$	1,299.7	$	1,596.3	$	353.4	$	1,178.3	$	1,532.5	$	372.3

	Reportable Segments
	Nine Months Ended
	September 30, 2019						September 30, 2018
(In millions)	Subsea		Onshore/ Offshore		Surface Technologies		Subsea		Onshore/ Offshore		Surface Technologies
Europe, Russia, Central Asia	$	1,250.0	$	1,975.2	$	171.3	$	1,136.3	$	2,537.9	$	172.5
America	1,232.0		514.2		564.1		1,219.3		253.0		653.3
Asia Pacific	448.4		889.1		139.4		368.1		906.5		85.9
Africa	663.2		330.1		41.1		703.9		202.3		43.4
Middle East	352.0		727.8		183.5		89.1		548.6		146.4
Total products and services revenue	$	3,945.6	$	4,436.4	$	1,099.4	$	3,516.7	$	4,448.3	$	1,101.5

The following tables represent revenue by contract type for each reportable segment for the three and nine months ended September 30, 2019 and 2018:

	Reportable Segments
	Three Months Ended
	September 30, 2019						September 30, 2018
(In millions)	Subsea		Onshore/ Offshore		Surface Technologies		Subsea(b)		Onshore/ Offshore		Surface Technologies
Services	$	743.8	$	1,596.3	$	69.5	$	674.2	$	1,532.5	$	70.2
Products	555.9		—		283.9		504.1		—		302.1
Total products and services revenue	1,299.7		1,596.3		353.4		1,178.3		1,532.5		372.3
Lease(a)	42.5		—		43.2		30.8		—		29.9
Total revenue	$	1,342.2	$	1,596.3	$	396.6	$	1,209.1	$	1,532.5	$	402.2

	Reportable Segments
	Nine Months Ended
	September 30, 2019						September 30, 2018
(In millions)	Subsea		Onshore/ Offshore		Surface Technologies		Subsea(b)		Onshore/ Offshore		Surface Technologies
Services	$	2,359.6	$	4,436.4	$	213.5	$	1,983.6	$	4,448.3	$	185.0
Products	1,586.0		—		885.9		1,533.1		—		916.5
Total products and services revenue	3,945.6		4,436.4		1,099.4		3,516.7		4,448.3		1,101.5
Lease(a)	90.6		—		110.3		90.0		—		73.4
Total revenue	$	4,036.2	$	4,436.4	$	1,209.7	$	3,606.7	$	4,448.3	$	1,174.9

(a) Represents revenue not subject to ASC Topic 606. See Note 5 to our condensed consolidated financial statements of this Quarterly Report for additional disclosure related to lease revenue.

(b)

We revised the condensed consolidated statement of operations to correct the classification of service revenue and product revenue in the amount of $211.0 million and $542.3 million for the three and nine months ended September 30, 2018, respectively. See Note 1 to our condensed consolidated financial statements of this Quarterly Report for additional disclosure related to the revision.

Contract balances

The following table provides information about net contract assets (liabilities) as of September 30, 2019 and December 31, 2018:

(In millions)	September 30, 2019			December 31, 2018			$ change			% change
Contract assets	$	1,503.0		$	1,295.0		$	208.0		16.1
Contract (liabilities)	(4,122.5		)	(4,085.1		)	(37.4		)	(0.9	)
Net contract assets (liabilities)	$	(2,619.5	)	$	(2,790.1	)	$	170.6		6.1

Remaining revenue performance obligations

The following table details the order backlog for each business segment as of September 30, 2019:

(In millions)	2019		2020		Thereafter
Subsea	$	1,425.6	$	4,251.0	$	2,979.2
Onshore/Offshore	2,084.5		5,254.4		7,691.9
Surface Technologies	257.2		171.5		—
Total remaining unsatisfied performance obligations	$	3,767.3	$	9,676.9	$	10,671.1