Business Segments (Tables)

12 Months Ended

Dec. 31, 2019

Segment Reporting, Measurement Disclosures [Abstract]

Segment revenue, segment operating profit and corporate items

Segment revenue and segment operating profit

	Year Ended December 31,
(In millions)	2019			2018			2017
Segment revenue
Subsea	$	5,523.0		$	4,840.0		$	5,877.4
Onshore/Offshore	6,268.8			6,120.7			7,904.5
Surface Technologies	1,617.3			1,592.2			1,274.6
Other revenue and intercompany eliminations	—			—			0.4
Total revenue	$	13,409.1		$	12,552.9		$	15,056.9
Segment operating profit (loss)
Subsea	$	(1,447.7	)	$	(1,529.5	)	$	460.5
Onshore/Offshore	959.6			824.0			810.9
Surface Technologies	(656.1		)	172.8			82.7
Total segment operating profit (loss)	(1,144.2		)	(532.7		)	1,354.1
Corporate items
Corporate expense (a)	(540.3		)	(594.5		)	(359.2		)
Interest income	116.5			121.4			140.8
Interest expense	(567.8		)	(482.3		)	(456.0		)
Total corporate items	(991.6		)	(955.4		)	(674.4		)
Income (loss) before income taxes (b)	$	(2,135.8	)	$	(1,488.1	)	$	679.7

 

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

(b) Includes amounts attributable to noncontrolling interests.

During the years ended December 31, 2019, 2018 and 2017, revenue from JSC Yamal LNG exceeded 10% of our consolidated revenue.

Segment operating capital employed and segment assets

Segment assets

	December 31,
(In millions)	2019			2018
Segment assets
Subsea	$	10,824.2		$	11,037.8
Onshore/Offshore	4,448.8			4,355.2
Surface Technologies	2,246.4			2,825.6
Intercompany eliminations	(33.9		)	(26.4		)
Total segment assets	17,485.5			18,192.2
Corporate (a)	6,033.3			6,592.3
Total assets	$	23,518.8		$	24,784.5

(a)

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

Geographic segment information

Geographic segment information

Geographic segment sales were identified based on the country where our products and services were delivered.

(In millions)	Year Ended December 31,
Revenue:	2019		2018		2017
Russia	$	2,378.0	$	2,773.3	$	4,894.2
USA	1,931.2		1,275.8		1,534.7
Norway	1,371.1		1,202.6		971.2
Brazil	1,099.7		1,478.7		911.1
Israel	757.0		243.8		6.9
United Kingdom	540.8		442.1		465.9
India	518.0		214.0		135.2
Angola	447.8		385.7		1,016.2
Australia	372.8		926.6		953.9
United Arab Emirates	327.2		460.3		308.5
Malaysia	283.8		362.3		374.8
China	272.9		112.3		104.7
Indonesia	237.6		130.7		295.4
All other countries	2,871.2		2,544.7		3,084.2
Total revenue	$	13,409.1	$	12,552.9	$	15,056.9

Geographic segment long-lived assets represent property, plant and equipment, net.

	December 31,
(In millions)	2019		2018
Long-lived assets
United Kingdom	$	957.1	$	925.6
United States	558.1		589.9
Netherlands	493.0		360.5
Norway	333.0		311.4
Brazil	313.2		325.8
All other countries	507.6		746.6
Total long-lived assets	$	3,162.0	$	3,259.8

Reconciliation of other significant reconciling items from segments to consolidated

Other business segment information 

	Capital Expenditures						Depreciation and Amortization						Research and Development Expense
	Year Ended December 31,						Year Ended December 31,						Year Ended December 31,
(In millions)	2019		2018		2017		2019		2018		2017		2019		2018		2017
Subsea	$	287.7	$	223.2	$	179.1	$	345.6	$	440.4	$	507.2	$	134.4	$	145.2	$	169.2
Onshore/Offshore	22.6		7.6		16.2		38.7		38.2		41.1		13.2		29.7		31.4
Surface Technologies	96.6		111.9		35.4		107.9		66.6		63.6		15.3		14.3		12.3
Corporate	47.5		25.4		25.0		17.4		5.2		2.8		—		—		—
Total	$	454.4	$	368.1	$	255.7	$	509.6	$	550.4	$	614.7	$	162.9	$	189.2	$	212.9