REVENUE (Tables)

6 Months Ended

Jun. 30, 2023

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 and six months ended June 30, 2023 and 2022:

	Reportable Segments
	Three Months Ended
	June 30, 2023				June 30, 2022
(In millions)	Subsea		Surface Technologies		Subsea		Surface Technologies
Latin America	$	558.9	$	33.5	$	332.5	$	27.2
Europe and Central Asia	520.5		51.0		403.6		40.3
North America	252.2		150.2		176.8		144.5
Africa	216.1		11.0		253.7		9.6
Asia Pacific	59.8		17.5		202.1		20.6
Middle East	10.9		90.6		45.9		60.4
Total revenue	$	1,618.4	$	353.8	$	1,414.6	$	302.6

	Reportable segments
	Six Months Ended
	June 30, 2023				June 30, 2022
(In millions)	Subsea		Surface Technologies		Subsea		Surface Technologies
Latin America	$	999.3	$	60.7	$	657.3	$	48.8
Europe and Central Asia	899.0		95.2		759.6		79.5
North America	502.1		296.3		377.2		260.7
Africa	426.6		20.7		436.8		18.1
Asia Pacific	131.7		35.4		423.6		44.2
Middle East	47.3		175.3		49.2		118.0
Total revenue	$	3,006.0	$	683.6	$	2,703.7	$	569.3

The following tables present total revenue by contract type for each reportable segment for the three and six months ended June 30, 2023 and 2022:

	Reportable Segments
	Three Months Ended
	June 30, 2023				June 30, 2022
(In millions)	Subsea		Surface Technologies		Subsea		Surface Technologies
Services	$	996.2	$	53.2	$	920.4	$	54.5
Products	604.3		254.5		475.9		206.3
Lease	17.9		46.1		18.3		41.8
Total revenue	$	1,618.4	$	353.8	$	1,414.6	$	302.6

	Reportable segments
	Six Months Ended
	June 30, 2023				June 30, 2022
(In millions)	Subsea		Surface Technologies		Subsea		Surface Technologies
Services	$	1,811.5	$	106.0	$	1,766.0	$	105.6
Products	1,169.1		484.8		907.4		388.9
Lease	25.4		92.8		30.3		74.8
Total revenue	$	3,006.0	$	683.6	$	2,703.7	$	569.3

Schedule of Contract Balances

The following table provides information about net contract assets (liabilities) as of June 30, 2023 and December 31, 2022:

(In millions)	June 30, 2023		December 31, 2022		$ change		% change
Contract assets	$	1,266.5	$	981.6	$	284.9	29.0
Contract liabilities	(1,219.0)		(1,156.4)		(62.6)		(5.4)
Net contract assets (liabilities)	$	47.5	$	(174.8)	$	222.3	127.2

Schedule of Remaining Revenue Performance Obligations

The following table details the order backlog for each business segment as of June 30, 2023:

(In millions)	2023		2024		Thereafter
Subsea	$	2,352.6	$	4,271.6	$	5,464.3
Surface Technologies	448.0		182.9		559.2
Total order backlog	$	2,800.6	$	4,454.5	$	6,023.5