TechnipFMC plc
For the period ended Mar 31, 2024. Filed Apr 26, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed Apr 26, 2024
FTI$64.55+0.9%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Cash Flows
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
| Three Months Ended March 31, | ||
|---|---|---|
| (In millions) | 2024 | 2023 |
| Cash required by operating activities | ||
| Net income | $160.9 | $7.8 |
| Adjustments to reconcile income to cash required by operating activities | ||
| Depreciation and amortization | 99.5 | 93.0 |
| Income from equity affiliates, net of dividends received | (1.4) | (14.2) |
| Gain on disposal of Measurement Solutions business | (75.2) | — |
| Other non-cash items, net | 32.5 | 18.0 |
| Changes in operating assets and liabilities, net of effects of acquisitions | ||
| Trade receivables, net and Contract assets, net | (19.5) | (392.1) |
| Inventories, net | (76.2) | (94.7) |
| Accounts payable, trade | 27.4 | 123.3 |
| Contract liabilities | (134.0) | 14.3 |
| Income taxes payable, net | 10.9 | 12.8 |
| Other current assets and liabilities, net | (199.6) | (148.4) |
| Other non-current assets and liabilities, net | 48.0 | (6.0) |
| Cash required by operating activities | (126.7) | (386.2) |
| Cash provided (required) by investing activities | ||
| Capital expenditures | (52.0) | (57.3) |
| Proceeds from sale of Measurement Solutions business | 186.1 | — |
| Other investing activities | 2.2 | 4.5 |
| Cash provided (required) by investing activities | 136.3 | (52.8) |
| Cash required by financing activities | ||
| Net decrease in short-term debt | (27.4) | (9.2) |
| Share repurchases | (150.1) | (50.0) |
| Dividends paid | (21.7) | — |
| Payments related to taxes withheld on share-based compensation | (49.7) | (14.6) |
| Other financing activities | (7.3) | (13.7) |
| Cash required by financing activities | (256.2) | (87.5) |
| Effect of changes in foreign exchange rates on cash and cash equivalents | (8.3) | (8.3) |
| Change in cash and cash equivalents | (254.9) | (534.8) |
| Cash and cash equivalents, beginning of period | 951.7 | 1,057.1 |
| Cash and cash equivalents, end of period | $696.8 | $522.3 |
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY (UNAUDITED)
THREE MONTHS ENDED MARCH 31, 2024 and 2023
| (In millions) | Ordinary Shares | Capital inExcess of ParValue ofOrdinary Shares | Accumulated Deficit | Accumulated Other Comprehensive Income (Loss) | Non-controllingInterest | TotalStockholders’Equity |
|---|---|---|---|---|---|---|
| Balance as of December 31, 2022 | $442.2 | $9,109.7 | $(5,010.0) | $(1,301.7) | $36.5 | $3,276.7 |
| Net income | — | — | 0.4 | — | 7.4 | 7.8 |
| Other comprehensive income (loss) | — | — | — | 13.6 | (2.0) | 11.6 |
| Issuance of ordinary shares, net of shares withheld for tax | 2.7 | (17.3) | — | — | — | (14.6) |
| Share-based compensation | — | 11.1 | — | — | — | 11.1 |
| Shares repurchased and cancelled | (3.3) | (46.7) | — | — | — | (50.0) |
| Other | — | — | 0.1 | — | — | 0.1 |
| Balance as of March 31, 2023 | $441.6 | $9,056.8 | $(5,009.5) | $(1,288.1) | $41.9 | $3,242.7 |
| Balance as of December 31, 2023 | $432.9 | $8,938.9 | $(4,993.1) | $(1,242.0) | $35.4 | $3,172.1 |
| Net income | — | — | 157.1 | — | 3.8 | 160.9 |
| Other comprehensive income (loss) | — | — | — | (84.8) | 0.1 | (84.7) |
| Issuance of ordinary shares, net of shares withheld for tax | 4.3 | (54.0) | — | — | — | (49.7) |
| Share-based compensation | — | 18.5 | — | — | — | 18.5 |
| Shares repurchased and cancelled | (6.3) | (129.0) | (14.8) | — | — | (150.1) |
| Dividends declared and paid | — | — | (21.7) | — | — | (21.7) |
| Other | — | (0.1) | — | — | — | (0.1) |
| Balance as of March 31, 2024 | $430.9 | $8,774.3 | $(4,872.5) | $(1,326.8) | $39.3 | $3,045.2 |
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