BUSINESS SEGMENTS (Tables)

12 Months Ended

Dec. 31, 2023

Segment Reporting, Measurement Disclosures [Abstract]

Schedule of Segment Revenue and Segment Operating Profit

Segment revenue and segment operating profit (loss) were as follows:

	Year Ended December 31,
(In millions)	2023		2022		2021
Segment revenue
Subsea	$	6,434.8	$	5,461.2	$	5,329.1
Surface Technologies	1,389.4		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 Technologies	114.6		58.3		42.0
Total segment operating profit	658.2		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.

Schedule of Segment Operating Capital Employed and Segment Assets

Segment assets were as follows:

	December 31,
(In millions)	2023		2022
Segment assets
Subsea	$	6,403.4	$	6,455.1
Surface Technologies	1,433.5		1,334.5
Total segment assets	7,836.9		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.

Schedule of Reconciliation of Other Significant Reconciling Items from Segments to Consolidated

Other business segment information is as follows:

	Capital Expenditures						Depreciation and Amortization						Research and Development Expense
	Year Ended December 31,						Year Ended December 31,						Year Ended December 31,
(In millions)	2023		2022		2021		2023		2022		2021		2023		2022		2021
Subsea	$	193.0	$	120.2	$	149.4	$	310.5	$	304.3	$	317.2	$	65.0	$	62.2	$	73.2
Surface Technologies	29.8		31.9		36.8		65.2		70.0		64.8		4.0		4.8		5.2
Corporate	2.4		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

Schedule of Geographic Segment Information

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)	2023		2022		2021
Revenue
Brazil	$	1,687.6	$	1,047.3	$	767.8
United States	1,569.5		1,348.4		1,137.2
Norway	1,134.1		907.6		979.9
United Kingdom	867.2		710.3		542.5
Guyana	500.4		369.1		314.7
Angola	400.8		247.9		406.3
Ghana	265.6		184.7		73.4
Australia	174.6		295.4		419.8
United Arab Emirates	161.4		117.8		49.4
Mozambique	153.6		284.4		472.0
Saudi Arabia	148.9		98.8		119.5
Malaysia	69.2		228.5		206.9
Indonesia	50.0		42.6		224.9
Trinidad	3.8		6.7		78.1
All other countries	637.5		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)	2023		2022
Long-lived assets
United Kingdom	$	714.7	$	741.6
Netherlands	394.8		387.0
Brazil	352.3		306.4
United States	272.0		357.2
Norway	227.1		225.3
All other countries	310.0		337.4
Total long-lived assets	$	2,270.9	$	2,354.9