FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Sep. 30, 2021

Schedule of assets and liabilities measured at fair value on a recurring basis

Assets and liabilities measured at fair value on a recurring basis were as follows:


	September 30, 2021								December 31, 2020
(In millions)	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Assets
Investments

Investment in Technip Energies	$	485.3	$	485.3	$	—	$	—	$	—	$	—	$	—	$	—
Equity securities(a)	23.9		23.9		—		—		23.4		23.4		—		—
Money market fund	2.6		—		2.6		—		1.7		—		1.7		—
Stable value fund(b)	0.6		—		—		—		0.9		—		—		—

Held-to-maturity debt securities	24.0		—		24.0		—		24.2		—		24.2		—
Derivative financial instruments
Foreign exchange contracts	166.7		—		166.7		—		297.9		—		297.9		—
Assets held for sale	4.0		—		—		4.0		47.3		—		—		47.3
Total assets	$	707.1	$	509.2	$	193.3	$	4.0	$	395.4	$	23.4	$	323.8	$	47.3
Liabilities
Derivative financial instruments
Foreign exchange contracts	162.5		—		162.5		—		176.3		—		176.3		—
Other current liabilities	22.4		22.4		—		—		—		—		—		—
Total liabilities	$	184.9	$	22.4	$	162.5	$	—	$	176.3	$	—	$	176.3	$	—

(a)Includes fixed income and other investments measured at fair value.

(b)Certain investments that are measured at fair value using net asset value per share (or its equivalent) have not been classified in the fair value hierarchy.

Schedule of fair value measurements, nonrecurring

The following summarizes impairments of equity investment and long-lived assets and related post-impairment fair value for the nine months ended September 30, 2021 and 2020:


	Nine Months Ended September 30,
	2021				2020
(In millions)	Impairment		Fair Value		Impairment		Fair Value
Long-lived assets(a)	$	20.9	$	31.6	$	161.3	$	353.3
Equity method investment impairment (b)	$	36.7	$	85.4	$	—	$	—

(a)Measured as of the impairment date using the income approach and a 10.8% risk-adjusted rate of interest, resulting in a Level 3 fair value measurement.

(b)Measured as of the impairment date using the estimated fair value of the consideration transferred, resulting in a Level 3 fair value measurement.