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STOCKHOLDERS’ EQUITY
6 Months Ended
Jun. 30, 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 June 30, 2023 and an aggregate amount of $200.2 million of ordinary shares through June 30, 2023. Based upon the remaining repurchase authority of $199.8 million and the closing stock price as of June 30, 2023, approximately 12.0 million ordinary shares could be subject to repurchase. All repurchased shares were immediately cancelled.
Accumulated other comprehensive income (loss) for three and six months ended June 30, 2023 and 2022 consisted of the following:
(In millions)Foreign Currency
Translation
HedgingDefined Pension 
and Other
Post-Retirement
Benefits
Accumulated Other
Comprehensive 
Loss Attributable to
TechnipFMC plc
Accumulated Other
Comprehensive 
Loss Attributable
to Non-Controlling Interest
March 31, 2023$(1,159.9)$(21.6)$(106.6)$(1,288.1)$(11.8)
Other comprehensive income (loss) before reclassifications, net of tax35.3 (18.8)2.2 18.7 (1.2)
Reclassification adjustment for net losses included in net income (loss), net of tax— 7.0 2.2 9.2 — 
Other comprehensive income (loss), net of tax35.3 (11.8)4.4 27.9 (1.2)
June 30, 2023$(1,124.6)$(33.4)$(102.2)$(1,260.2)$(13.0)
March 31, 2022$(1,033.1)$(25.8)$(126.4)$(1,185.3)$(5.3)
Other comprehensive loss before reclassifications, net of tax(125.2)(43.7)(1.3)(170.2)(4.8)
Reclassification adjustment for net losses included in net income (loss), net of tax— 5.4 3.1 8.5 — 
Other comprehensive income (loss), net of tax(125.2)(38.3)1.8 (161.7)(4.8)
June 30, 2022$(1,158.3)$(64.1)$(124.6)$(1,347.0)$(10.1)
(In millions)Foreign Currency
Translation
HedgingDefined Pension 
and Other
Post-Retirement
Benefits
Accumulated Other
Comprehensive 
Loss Attributable to
TechnipFMC plc
Accumulated Other
Comprehensive 
Loss Attributable
to Non-Controlling Interest
December 31, 2022$(1,177.7)$(17.1)$(106.9)$(1,301.7)$(9.8)
Other comprehensive income (loss) before reclassifications, net of tax53.2 (24.9)0.2 28.5 (3.2)
Reclassification adjustment for net losses included in net income (loss), net of tax(0.1)8.6 4.5 13.0 — 
Other comprehensive income (loss), net of tax53.1 (16.3)4.7 41.5 (3.2)
June 30, 2023(1,124.6)(33.4)(102.2)(1,260.2)(13.0)
December 31, 2021$(1,158.4)$(17.3)$(129.3)$(1,305.0)$(5.7)
Other comprehensive income (loss) before reclassifications, net of tax0.1 (58.6)(1.5)(60.0)(4.4)
Reclassification adjustment for net losses included in net income (loss), net of tax— 11.8 6.2 18.0 — 
Other comprehensive income (loss), net of tax0.1 (46.8)4.7 (42.0)(4.4)
June 30, 2022(1,158.3)(64.1)(124.6)(1,347.0)(10.1)
Reclassifications out of accumulated other comprehensive income (loss) consisted of the following:
Three Months EndedSix Months Ended
June 30,June 30,
(In millions)2023202220232022
Details about Accumulated Other Comprehensive Income (loss) ComponentsAmount Reclassified out of Accumulated Other Comprehensive
Income (Loss)
Affected Line Item in the Condensed Consolidated Statements of Income
Gains (losses) on hedging instruments
Foreign exchange contracts$(6.8)$4.1 $(8.5)$(0.5)Revenue
(2.8)(6.6)0.7 (7.0)Cost of sales
(0.1)(0.2)(0.1)(0.3)Selling, general and administrative expense
(0.3)(4.9)(4.4)(8.9)Other income (expense), net
(10.0)(7.6)(12.3)(16.7)Income (loss) before income taxes
(3.0)(2.2)(3.7)(4.9)Provision for income taxes
$(7.0)$(5.4)$(8.6)$(11.8)Net income (loss)
Pension and other post-retirement benefits
Amortization of prior service credit (cost)$— $(0.1)$(0.1)$(0.2)Other income (expense), net (a)
Amortization of net actuarial loss0.8 (5.7)(2.4)(9.1)Other income (expense), net (a)
0.8 (5.8)(2.5)(9.3)Income (loss) before income taxes
3.0 (2.7)2.0 (3.1)Provision for income taxes
$(2.2)$(3.1)$(4.5)$(6.2)Net income (loss)
(a)These accumulated other comprehensive income components are included in the computation of net periodic pension cost.