Related Party Transactions

3 Months Ended

Mar. 31, 2020

RELATED PARTY TRANSACTIONS

Receivables, payables, revenues, and expenses, which are included in our consolidated financial statements for all transactions with related parties, defined as entities related to our directors and main shareholders as well as the partners of our consolidated joint ventures, were as follows.

Trade receivables consisted of receivables due from the following related parties:



(In millions)	March 31, 2020		December 31, 2019
TP JGC Coral France SNC	$	45.8	$	40.1
TTSJV W.L.L.	23.0		22.4
Others	12.6		14.3
Total trade receivables	$	81.4	$	76.8

TP JGC Coral France SNC and TTSJV W.L.L. are equity method affiliates.

Trade payables consisted of payables due to the following related parties:



(In millions)	March 31, 2020		December 31, 2019
Chiyoda	$	26.5	$	24.8
JGC Corporation	15.1		15.1
IFP Energies nouvelles	1.2		2.4
Dofcon Navegacao	0.2		2.1
Others	2.7		6.7
Total trade payables	$	45.7	$	51.1

Chiyoda and JGC Corporation are joint venture partners on our Yamal project. A member of our Board of Directors is an executive officer of IFP Energies nouvelles. Dofcon Navegacao is an equity method affiliate.

Additionally, we have a note receivables balance of $40.2 million and $65.2 million at March 31, 2020 and December 31, 2019, respectively. The note receivables balance includes $37.5 million and $62.5 million with Dofcon Brasil AS as of March 31, 2020 and December 31, 2019, respectively. Dofcon Brasil AS is a variable interest entity (“VIE”) and accounted for as an equity method affiliate. These are included in other assets on our consolidated balance sheets.

Revenue consisted of amounts from the following related parties:



	Three Months Ended
	March 31,
(In millions)	2020		2019
TTSJV W.L.L.	$	15.6	$	52.8
TP JGC Coral France SNC	12.6		26.7
Anadarko Petroleum Company	—		44.5
TOP CV	—		1.3
Others	8.7		14.2
Total revenue	$	36.9	$	139.5

A member of our Board of Directors (the “Director”) served on the Board of Directors of Anadarko Petroleum Company (“Anadarko”) until August 2019. In August 2019, Anadarko was acquired by Occidental Petroleum Corporation (“Occidental”). As a result, the Director no longer serves as a member of the Board of Directors of Anadarko. The Director is not an officer or director of Occidental.

TOP CV was previously an equity method affiliate that became a fully consolidated subsidiary on December 30, 2019. Refer to Note 3 for more information related to this transaction.

Expenses consisted of amount to the following related parties:



	Three Months Ended
	March 31,
(In millions)	2020		2019
Dofcon Navegacao	$	8.0	$	—
Chiyoda	3.5		14.2
IFP Energies nouvelles	1.1		1.0
Magma Global Limited	0.7		1.9
Arkema S.A.	0.4		—
JGC Corporation	0.2		14.3
Serimax Holdings SAS	0.2		17.5
Others	6.4		3.8
Total expenses	$	20.5	$	52.7

Magma Global Limited and Serimax Holdings SAS are equity method affiliates. A member of our Board of Directors serves on the Board of Directors for Arkema S.A.