FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

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: 

	December 31, 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	$	317.3	$	317.3	$	—	$	—	$	—	$	—	$	—	$	—
Equity securities(a)	25.0		25.0		—		—		23.4		23.4		—		—
Money market fund	2.4		—		2.4		—		1.7		—		1.7		—
Stable value fund(b)	0.3		—		—		—		0.9		—		—		—
Held-to-maturity debt securities	24.0		—		24.0		—		24.2		—		24.2		—
Derivative financial instruments
Foreign exchange contracts	120.8		—		120.8		—		297.9		—		297.9		—
Assets held for sale	5.0		—		—		5.0		47.3		—		—		47.3
Total assets	$	494.8	$	342.3	$	147.2	$	5.0	$	395.4	$	23.4	$	323.8	$	47.3
Liabilities
Derivative financial instruments
Foreign exchange contracts	176.5		—		176.5		—		176.3		—		176.3		—
Total liabilities	$	176.5	$	—	$	176.5	$	—	$	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.

Fair Value Measurements, Nonrecurring

The following summarizes impairments of long-lived assets and related post-impairment fair value for the years ended December 31, 2021 and 2020:

	Year Ended December 31,
	2021				2020
(In millions)	Impairment		Fair Value		Impairment		Fair Value
Long-lived assets(a)	$	49.1	$	25.5	$	190.4	$	452.5

(a)Measuring these asset groups for recoverability required the use of unobservable inputs that require significant judgment. Such judgments include expected future asset utilization while taking into account reduced future capital spending by certain customers in response to market conditions.