REVENUE (Tables)

9 Months Ended

Sep. 30, 2021

Revenue from Contract with Customer [Abstract]

Schedule of disaggregation of revenue

The following tables present total revenue by geography for each reportable segment for the three and nine months ended September 30, 2021 and 2020:

	Reportable Segments
	Three Months Ended
	September 30, 2021				September 30, 2020
(In millions)	Subsea		Surface Technologies		Subsea		Surface Technologies
Europe, Russia, Central Asia	$	423.2	$	46.3	$	476.5	$	43.0
North America	174.7		99.3		240.5		63.5
Latin America	211.5		22.7		239.3		15.1
Asia Pacific	244.9		20.9		230.4		28.0
Africa	257.8		8.5		263.3		11.0
Middle East	—		69.6		51.8		65.1
Total revenue	$	1,312.1	$	267.3	$	1,501.8	$	225.7

	Nine Months Ended
	September 30, 2021				September 30, 2020
(In millions)	Subsea		Surface Technologies		Subsea		Surface Technologies
Europe, Russia, Central Asia	$	1,102.9	$	145.2	$	1,329.8	$	145.4
North America	594.4		266.6		660.3		292.4
Latin America	809.7		57.8		785.1		54.9
Asia Pacific	736.8		72.2		556.8		93.1
Africa	822.6		31.2		646.9		39.6
Middle East	26.5		214.3		154.5		171.5
Total revenue	$	4,092.9	$	787.3	$	4,133.4	$	796.9

The following tables present total revenue by contract type for each reportable segment for the three and nine months ended September 30, 2021 and 2020:

	Reportable Segments
	Three Months Ended
	September 30, 2021				September 30, 2020
(In millions)	Subsea		Surface Technologies		Subsea		Surface Technologies
Services	$	861.7	$	39.3	$	865.2	$	26.9
Products	441.6		198.4		623.6		182.0
Lease	8.8		29.6		13.0		16.8
Total revenue	$	1,312.1	$	267.3	$	1,501.8	$	225.7

	Nine Months Ended
	September 30, 2021				September 30, 2020
(In millions)	Subsea		Surface Technologies		Subsea		Surface Technologies
Services	$	2,530.2	$	110.4	$	2,346.9	$	112.7
Products	1,526.5		595.3		1,743.7		621.3
Lease	36.2		81.6		42.8		62.9
Total revenue	$	4,092.9	$	787.3	$	4,133.4	$	796.9

Schedule of contract balances

The following table provides information about net contract assets (liabilities) as of September 30, 2021 and December 31, 2020:

(In millions)	September 30, 2021		December 31, 2020		$ change		% change
Contract assets	$	1,027.0	$	886.8	$	140.2	15.8
Contract (liabilities)	(914.6)		(1,046.8)		132.2		12.6
Net contract assets (liabilities)	$	112.4	$	(160.0)	$	272.4	170.3

Schedule of remaining revenue performance obligations

The following table details the order backlog for each business segment as of September 30, 2021:

(In millions)	2021		2022		Thereafter
Subsea	$	930.8	$	3,241.8	$	2,488.8
Surface Technologies	150.5		177.4		13.1
Total order backlog	$	1,081.3	$	3,419.2	$	2,501.9