REVENUE (Tables)

3 Months Ended

Mar. 31, 2021

Revenue from Contract with Customer [Abstract]

Schedule of disaggregation of revenue

The following tables present products and services revenue by geography for each reportable segment for the three months ended March 31, 2021 and 2020:

	Three Months Ended
	March 31, 2021				March 31, 2020
(In millions)	Subsea		Surface Technologies		Subsea		Surface Technologies
Europe, Russia, Central Asia	$	255.9	$	42.1	$	423.1	$	50.3
Americas	561.7		75.2		436.5		149.3
Asia Pacific	241.6		24.0		137.6		34.3
Africa	292.2		8.2		214.6		13.6
Middle East	23.8		74.5		21.8		50.5
Total products and services revenue	$	1,375.2	$	224.0	$	1,233.6	$	298.0

The following tables present revenue by contract type for each reportable segment for the three months ended March 31, 2021 and 2020:

	Three Months Ended
	March 31, 2021				March 31, 2020
(In millions)	Subsea		Surface Technologies		Subsea		Surface Technologies
Services	$	793.4	$	32.8	$	717.5	$	56.1
Products	581.8		191.2		516.1		241.9
Total products and services revenue	1,375.2		224.0		1,233.6		298.0
Lease	11.3		21.5		19.5		31.5
Total revenue	$	1,386.5	$	245.5	$	1,253.1	$	329.5

Schedule of contract balances

The following table provides information about net contract assets (liabilities) as of March 31, 2021 and December 31, 2020:

(In millions)	March 31, 2021		December 31, 2020		$ change		% change
Contract assets	$	1,008.7	$	934.1	$	74.6	8.0
Contract (liabilities)	(892.5)		(1,045.7)		153.2		14.7
Net contract assets (liabilities)	$	116.2	$	(111.6)	$	227.8	204.1

Schedule of remaining revenue performance obligations

The following table details the order backlog for each business segment as of March 31, 2021:

(In millions)	2021		2022		Thereafter
Subsea	$	2,954.0	$	2,534.2	$	1,368.9
Surface Technologies	274.5		87.9		1.9
Total order backlog	$	3,228.5	$	2,622.1	$	1,370.8