REVENUE (Tables)

9 Months Ended

Sep. 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 nine months ended September 30, 2023 and 2022:

	Reportable Segments
	Three Months Ended
	September 30, 2023				September 30, 2022
(In millions)	Subsea		Surface Technologies		Subsea		Surface Technologies
Latin America	$	653.1	$	29.8	$	411.7	$	30.1
Europe and Central Asia	520.0		54.8		395.0		42.1
North America	269.2		137.5		205.1		146.2
Africa	187.6		15.2		216.5		7.6
Asia Pacific	77.1		23.5		162.7		26.4
Middle East	1.3		87.8		24.0		65.6
Total revenue	$	1,708.3	$	348.6	$	1,415.0	$	318.0

	Reportable segments
	Nine Months Ended
	September 30, 2023				September 30, 2022
(In millions)	Subsea		Surface Technologies		Subsea		Surface Technologies
Latin America	$	1,652.4	$	90.5	$	1,069.0	$	78.9
Europe and Central Asia	1,419.0		150.0		1,154.6		121.6
North America	771.3		433.8		582.3		406.9
Africa	614.2		35.9		653.3		25.7
Asia Pacific	208.8		58.9		586.3		70.6
Middle East	48.6		263.1		73.2		183.6
Total revenue	$	4,714.3	$	1,032.2	$	4,118.7	$	887.3

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

	Reportable Segments
	Three Months Ended
	September 30, 2023				September 30, 2022
(In millions)	Subsea		Surface Technologies		Subsea		Surface Technologies
Services	$	1,126.0	$	54.7	$	845.0	$	57.0
Products	542.6		250.5		556.0		222.6
Lease	39.7		43.4		14.0		38.4
Total revenue	$	1,708.3	$	348.6	$	1,415.0	$	318.0

	Reportable segments
	Nine Months Ended
	September 30, 2023				September 30, 2022
(In millions)	Subsea		Surface Technologies		Subsea		Surface Technologies
Services	$	2,937.5	$	160.7	$	2,611.0	$	162.6
Products	1,711.7		735.3		1,463.4		611.5
Lease	65.1		136.2		44.3		113.2
Total revenue	$	4,714.3	$	1,032.2	$	4,118.7	$	887.3

Schedule of Contract Balances

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

(In millions)	September 30, 2023		December 31, 2022		$ change		% change
Contract assets	$	1,204.6	$	981.6	$	223.0	22.7
Contract liabilities	(1,237.9)		(1,156.4)		(81.5)		(7.0)
Net contract assets (liabilities)	$	(33.3)	$	(174.8)	$	141.5	80.9

Schedule of Remaining Revenue Performance Obligations

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

(In millions)	2023		2024		Thereafter
Subsea	$	1,146.0	$	4,475.0	$	6,452.6
Surface Technologies	340.4		261.1		555.6
Total order backlog	$	1,486.4	$	4,736.1	$	7,008.2