TechnipFMC plc (FTI) Financial Statements (2024 and earlier)

Company Profile

Business Address HADRIAN HOUSE
NEWCASTLE UPON TYNE, NE6 3PL
State of Incorp.
Fiscal Year End December 31
Industry (SIC) 3533 - Oil and Gas Field Machinery and Equipment (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in millions)

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments 9521,0571,6454,8085,1905,540
Cash and cash equivalents 9521,0571,3274,8085,1905,540
Short-term investments   317   
Receivables156125853542,2872,470
Inventory, net of allowances, customer advances and progress billings1,1001,0401,0321,2691,4161,251
Inventory1,1001,0401,0321,2691,4161,251
Prepaid expense    112  
Contract with customer, asset, after allowance for credit loss1,0109829661,2681,5201,295
Derivative instruments and hedges, assets18328311030110296
Advances on inventory purchases908179204243190
Disposal group, including discontinued operation 152 84   
Other current assets414455512993864656
Other undisclosed current assets1,1389678282,138265284
Total current assets:5,1954,9895,34211,44511,88611,781
Noncurrent Assets
Operating lease, right-of-use asset7408027081,017893
Property, plant and equipment2,2712,3552,5972,8623,1623,260
Long-term investments and receivables274325292359300395
Long-term investments274325292359300395
Intangible assets, net (including goodwill)6027168143,4946,6858,784
Goodwill    2,5135,5987,608
Intangible assets, net (excluding goodwill)6027168149811,0871,177
Derivative instruments and hedges30711364018
Deferred income tax assets1657374218261
Other noncurrent assets288127130236293314
Other undisclosed noncurrent assets92525228 232
Total noncurrent assets:4,4614,4564,6798,24811,63213,003
TOTAL ASSETS:9,6579,44410,02019,69323,51924,785
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities1,6901,5551,6133,2333,1473,077
Taxes payable125747682
Employee-related liabilities194419412395
Accounts payable1,3561,2831,2942,7402,6602,600
Accrued liabilities335272    
Deferred revenue1,4861,1561,0134,7364,585
Debt16441927863649567
Derivative instruments and hedges, liabilities180347161167141138
Other liabilities7485616601,3691,4951,767
Contract with customer, liability4,085
Other undisclosed current liabilities201136126274275 
Total current liabilities:4,4694,1743,85210,41510,1389,134
Noncurrent Liabilities
Long-term debt and lease obligation1,0021,0012,4254,1994,6624,124
Long-term debt, excluding current maturities9149991,7273,3183,9804,124
Finance lease, liability88151  
Liabilities, other than long-term debt1,014993325821990847
Deferred income tax liabilities92564880138
Liability, pension and other postretirement and postemployment benefits8460113421369299
Other liabilities146138148297430503
Operating lease, liability667736647881682
Derivative instruments and hedges, liabilities25416235345
Other undisclosed noncurrent liabilities      209
Total noncurrent liabilities:2,0161,9932,7505,0195,6515,181
Total liabilities:6,4856,1686,60215,43515,79014,315
Temporary equity, carrying amount    444139
Equity
Equity, attributable to parent, including:3,1373,2403,4034,1547,65910,400
Common stock433442451450447451
Additional paid in capital8,9399,1109,16110,24210,18310,197
Accumulated other comprehensive loss(1,242)(1,302)(1,305)(1,623)(1,408)(1,360)
Retained earnings (accumulated deficit)(4,993)(5,010)(4,904)(4,915)(1,563)1,114
Other undisclosed equity, attributable to parent      (2)
Equity, attributable to noncontrolling interest 3537 602931
Other undisclosed equity  16   
Total equity:3,1723,2773,4184,2147,68810,431
TOTAL LIABILITIES AND EQUITY:9,6579,44410,02019,69323,51924,785

Income Statement (P&L) ($ in millions)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues7,8246,7006,40413,05113,40912,553
Cost of revenue(6,549)(5,803)(5,583)(11,252)(11,016)(10,310)
Gross profit:1,2758978211,7992,3932,243
Operating expenses(766)(700)(787)(4,684)(3,920)(3,161)
Other undisclosed operating income      
Operating income (loss):50919734(2,886)(1,527)(918)
Nonoperating income (expense)(215)(22)36988(104)(203)
Investment income, nonoperating34(28)32257117121
Other nonoperating income (expense)(248)54731(221)(324)
Interest and debt expense(122)(169)(219)(350)(568)(482)
Income (loss) from continuing operations before equity method investments, income taxes:1727184(3,148)(2,199)(1,602)
Income from equity method investments344516363114
Other undisclosed income from continuing operations before income taxes 1814   
Income (loss) from continuing operations before income taxes:20769198(3,085)(2,136)(1,488)
Income tax expense(155)(105)(111)(153)(276)(423)
Income (loss) from continuing operations:52(37)87(3,238)(2,412)(1,911)
Income (loss) before gain (loss) on sale of properties:14(3,238)(2,412)(1,911)
Loss from discontinued operations  (45)(73)   
Net income (loss):52(82)14(3,238)(2,412)(1,911)
Net loss attributable to noncontrolling interest    (50)(3)(11)
Other undisclosed net income (loss) attributable to parent4(25)(1)   
Net income (loss) available to common stockholders, diluted:56(107)13(3,288)(2,415)(1,922)

Comprehensive Income ($ in millions)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income (loss):52(82)14(3,238)(2,412)(1,911)
Other comprehensive income (loss)64(1)85(214)(49)(361)
Comprehensive income (loss):115(83)99(3,452)(2,461)(2,271)
Comprehensive income (loss), net of tax, attributable to noncontrolling interest1(21)1(50)(2)(6)
Comprehensive income (loss), net of tax, attributable to parent:116(104)100(3,503)(2,463)(2,278)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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