REVENUE (Tables)

3 Months Ended

Mar. 31, 2022

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 months ended March 31, 2022 and 2021:

	Three Months Ended
	March 31, 2022				March 31, 2021
(In millions)	Subsea		Surface Technologies		Subsea		Surface Technologies
Europe and Central Asia	$	356.0	$	39.2	$	268.4	$	43.8
North America	200.4		116.2		230.1		74.5
Latin America	324.8		21.6		320.8		17.9
Asia Pacific	221.5		23.6		245.0		24.5
Africa	183.1		8.5		295.3		9.6
Middle East	3.3		57.6		26.9		75.2
Total revenue	$	1,289.1	$	266.7	$	1,386.5	$	245.5

The following tables present total revenue by contract type for each reportable segment for the three months ended March 31, 2022 and 2021:

	Three Months Ended
	March 31, 2022				March 31, 2021
(In millions)	Subsea		Surface Technologies		Subsea		Surface Technologies
Services	$	845.6	$	51.1	$	793.4	$	32.8
Products	431.5		182.6		581.8		191.2
Lease	12.0		33.0		11.3		21.5
Total revenue	$	1,289.1	$	266.7	$	1,386.5	$	245.5

Schedule of contract balances

The following table provides information about net contract assets (liabilities) as of March 31, 2022 and December 31, 2021:

(In millions)	March 31, 2022		December 31, 2021		$ change		% change
Contract assets	$	983.4	$	966.0	$	17.4	1.8
Contract liabilities	(834.7)		(1,012.9)		178.2		17.6
Net contract assets (liabilities)	$	148.7	$	(46.9)	$	195.6	417.1

Schedule of remaining revenue performance obligations

The following table details the order backlog for each business segment as of March 31, 2022:

(In millions)	2022		2023		Thereafter
Subsea	$	2,933.0	$	2,880.0	$	1,928.3
Surface Technologies	292.0		125.2		735.6
Total order backlog	$	3,225.0	$	3,005.2	$	2,663.9