TechnipFMC plc

Most of our cash is managed centrally and flows through bank accounts controlled and maintained by TechnipFMC globally in various jurisdictions to best meet the liquidity needs of our global operations.

Net Cash -Net cash is a non-GAAP financial measure reflecting cash and cash equivalents, net of debt. Management uses this non-GAAP financial measure to evaluate our capital structure and financial leverage. We believe net cash is a meaningful financial measure that may assist investors in understanding our financial condition and recognizing underlying trends in our capital structure. Net cash should not be considered an alternative to, or more meaningful than, cash and cash equivalents as determined in accordance with U.S. GAAP or as an indicator of our operating performance or liquidity.

The following table provides a reconciliation of our cash and cash equivalents to net cash, utilizing details of classifications from our condensed consolidated balance sheets:

Cash Flows

Operating cash flows - Operating activities provided $1,411.2 million and $1,311.0 million during the nine months ended September 30, 2026 and 2025, respectively. The increase of $100.2 million in cash from operating activities was primarily driven by higher net income and increases in accounts payable, partially offset by increases in trade receivables and contract assets and lower contract liability inflows in the nine months ended September 30, 2026 compared to the same period in 2025.

Investing cash flows - Investing activities required $165.7 million and $211.0 million during the nine months ended September 30, 2026 and 2025, respectively. The decrease of $45.3 million in cash used by investing activities was primarily driven by a $46.0 million reduction in capital expenditures in the nine months ended September 30, 2026 compared to the same period in 2025.

Financing cash flows - Financing activities required $1,228.2 million and $1,412.4 million during the nine months ended September 30, 2026 and 2025, respectively. The decrease of $184.2 million in cash used by financing activities was primarily driven by a $480.6 million reduction in debt repayments and an increase of $37.9 million from hedging settlements. These decreases were partially offset by increases of $254.7 million in share repurchases and $77.6 million in payments of taxes withheld on share-based compensation in the nine months ended September 30, 2026 compared to the same period in 2025.

Debt and Liquidity

We are committed to maintaining a capital structure that provides sufficient cash resources to support future operating and investment plans. We maintain a level of liquidity sufficient to allow us to meet our cash needs in both the short term and long term.

Availability of borrowings under the Revolving Credit Facility is reduced by outstanding commercial paper and letters of credit issued against the facility. As of September 30, 2026, there were no letters of credit or commercial paper outstanding, and our availability under the Revolving Credit Facility was $1,250.0 million.

Credit Ratings -On June 9, 2026, Fitch upgraded TechnipFMC, raising its rating to ‘BBB’ from ‘BBB-‘ for both the issuer credit as well as the issuer level ratings on the Company’s senior unsecured notes, while revising the outlook to stable for the issuer-level rating. On the same day, Fitch assigned a rating of ‘F2’ to our short-term debt and commercial paper.

On June 22, 2026, S&P upgraded TechnipFMC, raising its rating to 'BBB' from 'BBB-' for both the issuer credit as well as the issue-level ratings on the Company’s senior unsecured notes, while revising the outlook to stable. On the same day, S&P raised its rating to ‘A-2’ from ‘A-3’ for our short-term debt and commercial paper.

As of September 30, 2026, TechnipFMC was in compliance with all debt covenants. See Note 10 to our condensed consolidated financial statements for further detail.

Dividends - The cash dividends paid during the nine months ended September 30, 2026 were $59.2 million. We intend to pay dividends on a quarterly basis, subject to review and approval by our Board of Directors in its sole discretion.

On October 27, 2026, the Company announced that its Board of Directors has authorized and declared a quarterly cash dividend of $0.05 per share, payable on December 2, 2026 to shareholders of record as of the close of business on the New York Stock Exchange on November 17, 2026, which is also the ex-dividend date.

Share Repurchase - We repurchased $1,004.9 million of ordinary shares during the nine months ended September 30, 2026. Based upon the remaining repurchase authority of $1.2 billion and the closing stock price as of September 30, 2026, approximately 17.2 million ordinary shares could be subject to repurchase. All shares repurchased were cancelled.

Credit Risk Analysis

For the purposes of mitigating the effect of the changes in exchange rates, we hold derivative financial instruments. Derivative instruments expose the Company to counterparty credit risk. The fair value of derivative assets and liabilities reflects adjustments for nonperformance risk of both counterparties and the Company. These credit‑risk‑related valuation adjustments were not material for any period presented, and the Company is not required to post collateral under its derivative agreements. Management does not believe counterparty credit risk is reasonably likely to have a material impact on liquidity or results of operations.

Financial Position Outlook

We are committed to a strong balance sheet. We continue to maintain sufficient liquidity to support the needs of the business through growth, cyclicality, and unforeseen events. We continue to maintain and drive sustainable leverage to preserve access to capital throughout the cycle. Our capital expenditures can be adjusted and managed to match market demand and activity levels. Projected capital expenditures do not include any contingent capital that may be needed to respond to contract awards. In maintaining our commitment to sustainable leverage and liquidity, we expect to be able to continue to generate cash flow available for investment in growth and distribution to shareholders through the business cycle.