RELATED PARTY TRANSACTIONS

12 Months Ended

Dec. 31, 2022

Receivables, payables, revenues and expenses which are included in our consolidated financial statements for all transactions with related parties, defined as entities related to our directors and main shareholders as well as the partners of our consolidated joint ventures, were as follows:

Trade receivables consisted of trade receivables due from the following related parties:


	December 31,
(In millions)	2022		2021

Dofcon	$	16.6	$	27.2


Others	1.3		2.5
Total trade receivables	$	17.9	$	29.7

Dofcon is our equity method investment. As of December 31, 2021, we had a note receivable of $12.6 million with Dofcon, which was included in other assets in our consolidated balance sheet. During 2022, this note was repaid.

As of December 31, 2022 and 2021, we did not have any material accounts payable outstanding with our related parties.

Revenue consisted of amounts from the following related parties:


	Year Ended December 31,
(In millions)	2022		2021		2020
Dofcon	$	21.3	$	25.7	$	14.6
Equinor ASA	—		—		119.6

Others	7.8		14.0		18.5
Total revenue	$	29.1	$	39.7	$	152.7

Expenses consisted of amounts to following related parties:


	Year Ended December 31,
(In millions)	2022		2021		2020
Dofcon	$	14.4	$	26.7	$	24.0
Jumbo Shipping	11.5		—		16.0
Serimax Holdings SAS	—		7.6		0.4
Magma Global Limited	—		8.8		14.0
Others	20.3		22.3		22.7
Total expenses	$	46.2	$	65.4	$	77.1

In October 2020, we added a new member to our Board of Directors who was an executive of Equinor ASA up through January 2021. Serimax Holdings SAS is an equity method affiliate. Member of our Board of Directors serves on the Board of Directors for Jumbo Shipping. Magma Global Limited was an equity method affiliate through September 30, 2021. In October 2021, we purchased the remaining ownership interest in Magma Global, see Note 3 for further details.