STOCKHOLDERS’ EQUITY

9 Months Ended

Sep. 30, 2022

Stockholders' Equity Note [Abstract]

STOCKHOLDERS’ EQUITY

STOCKHOLDERS’ EQUITY

In July 2022, the Board of Directors authorized the repurchase of up to $400.0 million of our outstanding ordinary shares under our share repurchase program. Pursuant to this share repurchase program, we repurchased $50.1 million of ordinary shares during the three months ended September 30, 2022. Based upon the remaining repurchase authority of $349.9 million and the closing stock price as of September 30, 2022, approximately 41.4 million ordinary shares could be subject to repurchase. All share repurchases were immediately cancelled.

Accumulated other comprehensive income (loss) consisted of the following:

(In millions)	Foreign Currency Translation		Hedging		Defined Pension  and Other Post-Retirement Benefits		Accumulated Other Comprehensive  Loss Attributable to TechnipFMC plc		Accumulated Other Comprehensive  Loss Attributable to Non-Controlling Interest
June 30, 2022	$	(1,158.3)	$	(64.1)	$	(124.6)	$	(1,347.0)	$	(10.1)
Other comprehensive income (loss) before reclassifications, net of tax	(97.2)		(33.4)		(1.5)		(132.1)		(2.8)
Reclassification adjustment for net losses included in net income, net of tax	—		6.7		3.0		9.7		—
Other comprehensive income (loss), net of tax	(97.2)		(26.7)		1.5		(122.4)		(2.8)
September 30, 2022	$	(1,255.5)	$	(90.8)	$	(123.1)	$	(1,469.4)	$	(12.9)

(In millions)	Foreign Currency Translation		Hedging		Defined Pension  and Other Post-Retirement Benefits		Accumulated Other Comprehensive  Loss Attributable to TechnipFMC plc		Accumulated Other Comprehensive  Loss Attributable to Non-Controlling Interest
December 31, 2021	$	(1,158.4)	$	(17.3)	$	(129.3)	$	(1,305.0)	$	(5.7)
Other comprehensive loss before reclassifications, net of tax	(97.1)		(92.0)		(3.0)		(192.1)		(7.2)
Reclassification adjustment for net losses included in net income (loss), net of tax	—		18.5		9.2		27.7		—
Other comprehensive income (loss), net of tax	(97.1)		(73.5)		6.2		(164.4)		(7.2)
September 30, 2022	$	(1,255.5)	$	(90.8)	$	(123.1)	$	(1,469.4)	$	(12.9)

Reclassifications out of accumulated other comprehensive income (loss) consisted of the following:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(In millions)	2022		2021		2022		2021
Details about Accumulated Other Comprehensive Income (loss) Components	Amount Reclassified out of Accumulated Other Comprehensive Loss								Affected Line Item in the Condensed Consolidated Statements of Income
Gains (losses) on hedging instruments
Foreign exchange contracts	$	(1.4)	$	(1.6)	$	(1.9)	$	(27.6)	Revenue
	(5.6)		0.7		(12.6)		12.2		Cost of sales
	—		(0.1)		(0.3)		0.1		Selling, general and administrative expense
	(2.2)		(0.7)		(11.1)		6.2		Other income (expense), net
	(9.2)		(1.7)		(25.9)		(9.1)		Income (loss) before income taxes
	(2.5)		(0.4)		(7.4)		(5.8)		Provision for income taxes
	$	(6.7)	$	(1.3)	$	(18.5)	$	(3.3)	Net income (loss)
Pension and other post-retirement benefits
Amortization of prior service credit (cost)	$	(0.1)	$	(0.1)	$	(0.3)	$	(0.4)	Other income (expense), net (a)
Amortization of net actuarial loss	(5.8)		(6.8)		(14.9)		(19.8)		Other income (expense), net (a)
	(5.9)		(6.9)		(15.2)		(20.2)		Income (loss) before income taxes
	(2.9)		(2.1)		(6.0)		(5.5)		Provision for income taxes
	$	(3.0)	$	(4.8)	$	(9.2)	$	(14.7)	Net income (loss)

(a)These accumulated other comprehensive income components are included in the computation of net periodic pension cost.