STOCKHOLDERS’ EQUITY

3 Months Ended

Mar. 31, 2023

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 $50.0 million of ordinary shares during the three months ended March 31, 2023 and an aggregate amount of $150.2 million of ordinary shares through March 31, 2023. Based upon the remaining repurchase authority of $249.8 million and the closing stock price as of March 31, 2023, approximately 18.3 million ordinary shares could be subject to repurchase. All repurchased shares 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
December 31, 2021	$	(1,158.4)	$	(17.3)	$	(129.3)	$	(1,305.0)	$	(5.7)
Other comprehensive income (loss) before reclassifications, net of tax	125.3		(14.9)		(0.2)		110.2		0.4
Reclassification adjustment for net losses included in net income (loss), net of tax	—		6.4		3.1		9.5		—
Other comprehensive income (loss), net of tax	125.3		(8.5)		2.9		119.7		0.4
March 31, 2022	$	(1,033.1)	$	(25.8)	$	(126.4)	$	(1,185.3)	$	(5.3)
December 31, 2022	$	(1,177.7)	$	(17.1)	$	(106.9)	$	(1,301.7)	$	(9.8)
Other comprehensive income (loss) before reclassifications, net of tax	17.9		(6.1)		(2.0)		9.8		(2.0)
Reclassification adjustment for net losses included in net income (loss), net of tax	(0.1)		1.6		2.3		3.8		—
Other comprehensive income (loss), net of tax	17.8		(4.5)		0.3		13.6		(2.0)
March 31, 2023	$	(1,159.9)	$	(21.6)	$	(106.6)	$	(1,288.1)	$	(11.8)

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

		Three Months Ended
		March 31,
(In millions)		2023		2022
Details about Accumulated Other Comprehensive Income (loss) Components	Amount Reclassified out of Accumulated Other Comprehensive Income (Loss)					Affected Line Item in the Condensed Consolidated Statements of Income
Gains (losses) on hedging instruments
Foreign exchange contracts		$	(1.7)	$	(4.6)	Revenue
		3.5		(0.4)		Cost of sales
		—		(0.1)		Selling, general and administrative expense
		(4.1)		(4.0)		Other income (expense), net
		(2.3)		(9.1)		Income (loss) before income taxes
		(0.7)		(2.7)		Provision for income taxes
		$	(1.6)	$	(6.4)	Net income (loss)
Pension and other post-retirement benefits
Amortization of prior service credit (cost)		$	(0.1)	$	(0.1)	Other income (expense), net (a)
Amortization of net actuarial loss		(3.2)		(3.4)		Other income (expense), net (a)
		(3.3)		(3.5)		Income (loss) before income taxes
		(1.0)		(0.4)		Provision for income taxes
		$	(2.3)	$	(3.1)	Net income (loss)

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