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STOCKHOLDERS’ EQUITY
 3 Months Ended
Mar. 31, 2024
Stockholders' Equity Note [Abstract]  
STOCKHOLDERS’ EQUITY STOCKHOLDERS’ EQUITY
On July 26, 2023, the Company announced that its Board of Directors authorized the initiation of a quarterly cash dividend of $0.05 per share. The Company intends to pay dividends on a quarterly basis, and this dividend represents $0.20 per share on an annualized basis. The cash dividend paid during the three months ended March 31, 2024 was $21.7 million.
As an English public limited company, we are required under U.K. law to have available “distributable reserves” to conduct share repurchases or pay dividends to shareholders. Distributable reserves are a statutory requirement and are not linked to a GAAP reported amount (e.g., retained earnings). The declaration and payment of dividends require the authorization of our Board of Directors, provided that such dividends on issued share capital may be paid only out of our “distributable reserves” on our statutory balance sheet. Therefore, we are not permitted to pay dividends out of share capital, which includes share premium.
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. On July 26, 2023, the Board of Directors authorized additional share repurchase of up to $400.0 million, and the Company’s total share repurchase authorization was increased to $800.0 million of our outstanding ordinary shares under our share repurchase program. Pursuant to this share repurchase program, we repurchased $150.1 million of ordinary shares during the three months ended March 31, 2024. Since the initial share repurchase authorization in July 2022, we have purchased an aggregate amount of $455.4 million of ordinary shares through March 31, 2024. All repurchased shares were immediately cancelled.
Accumulated other comprehensive income (loss) for three months ended March 31, 2024 and 2023 consisted of the following:
(In millions)Foreign Currency
Translation		HedgingDefined Pension 
and Other
Post-Retirement
Benefits		Accumulated Other
Comprehensive 
Loss Attributable to
TechnipFMC plc		Accumulated Other
Comprehensive 
Loss Attributable
to Non-Controlling Interest
December 31, 2022$(1,177.7)$(17.1)$(106.9)$(1,301.7)$(9.8)
Other comprehensive income (loss) before reclassifications, net of tax17.9 (6.1)(2.0)9.8 (2.0)
Reclassification adjustment for net (gains) losses included in net income (loss), net of tax(0.1)1.6 2.3 3.8 — 
Other comprehensive income (loss), net of tax17.8 (4.5)0.3 13.6 (2.0)
March 31, 2023$(1,159.9)$(21.6)$(106.6)$(1,288.1)$(11.8)
December 31, 2023$(1,120.5)$20.9 $(142.4)$(1,242.0)$(6.0)
Other comprehensive income (loss) before reclassifications, net of tax(62.8)(34.4)4.1 (93.1)0.1 
Reclassification adjustment for net (gains) losses included in net income, net of tax10.5 (3.1)0.9 8.3 — 
Other comprehensive income (loss), net of tax(52.3)(37.5)5.0 (84.8)0.1 
March 31, 2024$(1,172.8)$(16.6)$(137.4)$(1,326.8)$(5.9)
Reclassifications out of accumulated other comprehensive income (loss) consisted of the following:
Three Months Ended
March 31,
(In millions)20242023
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
Release of CTA loss(10.5)— Other income (expense), net
$(10.5)$— 
Gains (losses) on hedging instruments
Foreign exchange contracts$0.9 $(1.7)Revenue
0.6 3.5 Cost of sales
2.8 (4.1)Other income (expense), net
4.3 (2.3)Income (loss) before income taxes
1.2 (0.7)Provision for income taxes
$3.1 $(1.6)Net income (loss)
Pension and other post-retirement benefits
Amortization of prior service credit (cost)$(0.1)$(0.1)
Other income (expense), net(a)
Amortization of net actuarial loss(2.1)(3.2)
Other income (expense), net(a)
Reclassification adjustment for net gain included in net income2.3 — 
Other income (expense), net(a)
0.1 (3.3)Income (loss) before income taxes
1.0 (1.0)Provision for income taxes
$(0.9)$(2.3)Net income (loss)
(a)These accumulated other comprehensive income components are included in the computation of net periodic pension cost.