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BUSINESS SEGMENTS
 12 Months Ended
Dec. 31, 2023
Segment Reporting, Measurement Disclosures [Abstract]  
BUSINESS SEGMENTS BUSINESS SEGMENTS
Management’s determination of our reporting segments was made on the basis of our strategic priorities within each segment and the differences in the products and services we provide, which corresponds to the manner in which our Chair and Chief Executive Officer, as our chief operating decision maker, reviews and evaluates operating performance and allocates resources. We operate under two reportable segments: Subsea and Surface Technologies.
Segment operating profit (loss) is defined as total segment revenue less segment operating expenses. Income (loss) from equity method investments is included in segment operating profit. The following items have been excluded from segment operating profit (loss): a non-recurring legal settlement charge, corporate staff expense, foreign exchange gains (losses), income (loss) from investment in Technip Energies, loss on early extinguishment of debt, net interest income (expense) associated with corporate debt facilities and income taxes.
Our customers are the major integrated oil companies, national oil companies and independent exploration and production companies that are active in the geographic areas in which we operate. For the year ended December 31, 2023, the largest Subsea segment client Petrobras accounted for more than 16 percent of our 2023 consolidated revenue.
Information by business segment
Segment revenue and segment operating profit (loss) were as follows:
 Year Ended December 31,
(In millions)202320222021
Segment revenue
Subsea$6,434.8 $5,461.2 $5,329.1 
Surface Technologies1,389.4 1,239.2 1,074.4 
Total revenue$7,824.2 $6,700.4 $6,403.5 
Segment operating profit (loss)
Subsea$543.6 $317.6 $141.4 
Surface Technologies114.6 58.3 42.0 
Total segment operating profit658.2 375.9 183.4 
Corporate items
Corporate expense (a)
(243.9)(104.7)(118.1)
Net interest expense(88.7)(120.9)(143.3)
Loss on early extinguishment of debt— (29.8)(61.9)
Income (loss) from investment in Technip Energies— (27.7)322.2 
Foreign exchange gains (losses)(119.0)(23.9)15.8 
Total corporate items(451.6)(307.0)14.7 
Income before income taxes(b)
$206.6 $68.9 $198.1 
(a)Corporate expense includes a non-recurring legal settlement charge for the year ended December 31, 2023, corporate staff expenses, share-based compensation expenses and other employee benefits.
(b)Includes amounts attributable to non-controlling interests.
Segment assets were as follows:
 December 31,
(In millions)20232022
Segment assets
Subsea$6,403.4 $6,455.1 
Surface Technologies1,433.5 1,334.5 
Total segment assets7,836.9 7,789.6 
Corporate (a)
1,819.7 1,654.7 
Total assets$9,656.6 $9,444.3 
(a)Corporate includes cash, LIFO adjustments, deferred income tax balances, property, plant and equipment and intercompany eliminations not associated with a specific segment, pension assets and the fair value of derivative financial instruments.
Other business segment information is as follows:
Capital ExpendituresDepreciation and
Amortization		Research and
Development Expense
 Year Ended December 31,Year Ended December 31,Year Ended December 31,
(In millions)202320222021202320222021202320222021
Subsea$193.0 $120.2 $149.4 $310.5 $304.3 $317.2 $65.0 $62.2 $73.2 
Surface Technologies29.8 31.9 36.8 65.2 70.0 64.8 4.0 4.8 5.2 
Corporate2.4 5.8 5.5 2.1 2.9 3.4 — — — 
Total$225.2 $157.9 $191.7 $377.8 $377.2 $385.4 $69.0 $67.0 $78.4 
Information by geography
Revenue by geography was identified based on the country where our products and services were delivered, and is as follows:
Year Ended December 31,
(In millions)202320222021
Revenue
Brazil$1,687.6 $1,047.3 $767.8 
United States1,569.5 1,348.4 1,137.2 
Norway1,134.1 907.6 979.9 
United Kingdom867.2 710.3 542.5 
Guyana500.4 369.1 314.7 
Angola400.8 247.9 406.3 
Ghana265.6 184.7 73.4 
Australia174.6 295.4 419.8 
United Arab Emirates161.4 117.8 49.4 
Mozambique153.6 284.4 472.0 
Saudi Arabia148.9 98.8 119.5 
Malaysia69.2 228.5 206.9 
Indonesia50.0 42.6 224.9 
Trinidad3.8 6.7 78.1 
All other countries637.5 810.9 611.1 
Total revenue$7,824.2 $6,700.4 $6,403.5 

Long-lived assets by geography represent property, plant and equipment, net, and are as follows:
 December 31,
(In millions)20232022
Long-lived assets
United Kingdom$714.7 $741.6 
Netherlands394.8 387.0 
Brazil352.3 306.4 
United States272.0 357.2 
Norway227.1 225.3 
All other countries310.0 337.4 
Total long-lived assets$2,270.9 $2,354.9