If you are visually impaired or blind, you can visit the PDF version by Pressing CONTROL + ALT + 4
<br /> <br /> ($ in millions, except earnings per share and common stock data) 2015 2014 <br /> Revenue by segment <br /> Subsea Technologies $ 4,509.0 71% $ 5,266.4 66%<br /> Surface Technologies $ 1,487.6 23% $ 2,130.7 27%<br /> Energy Infrastructure $ 395.4 6% $ 557.4 7%<br /> Eliminations $ (29.3) $ (11.9) <br /> Total revenue $ 6,362.7 $ 7,942.6 <br /> Earnings <br /> Net income attributable to FMC Technologies, Inc. $ 393.1 $ 699.9 <br /> Diluted EPS $ 1.70 $ 2.95 <br /> Financial and other data <br /> Common stock price range <br /> High $ 46.52 $ 63.52 <br /> Low $ 28.35 $ 42.75 <br /> Net debt $ (239.8) $ (666.6) <br /> Order backlog $ 4,355.6 $ 6,619.4 <br /> Number of employees 17,400 20,300 <br /> <a title="FMCTechnologies2015AnnualReport page 1" href="http://viewer.zmags.com/publication/10255823?page=1"> </a> <a title="FMCTechnologies2015AnnualReport page 2" href="http://viewer.zmags.com/publication/10255823?page=2"> ($ in millions, except earnings per share and com</a> <a title="FMCTechnologies2015AnnualReport page 3" href="http://viewer.zmags.com/publication/10255823?page=3"> Total shareholder return </a> <a title="FMCTechnologies2015AnnualReport page 4" href="http://viewer.zmags.com/publication/10255823?page=4"> RETHINK. REINVENT. REIMAGINE. WE'RE MAKING CHANGE</a> <a title="FMCTechnologies2015AnnualReport page 5" href="http://viewer.zmags.com/publication/10255823?page=5"> A MESSAGE FROM OUR CHAIRMAN AND CEO The oil and </a> <a title="FMCTechnologies2015AnnualReport page 6" href="http://viewer.zmags.com/publication/10255823?page=6"> NEW BUSINESS MODELS. WE'RE RESHAPING SUBSEA DESIG</a> <a title="FMCTechnologies2015AnnualReport page 7" href="http://viewer.zmags.com/publication/10255823?page=7"> We responded by moving aggressively to help custo</a> <a title="FMCTechnologies2015AnnualReport page 8" href="http://viewer.zmags.com/publication/10255823?page=8"> STANDARDIZATION. STANDARDIZED TECHNOLOGY. CONFIGU</a> <a title="FMCTechnologies2015AnnualReport page 9" href="http://viewer.zmags.com/publication/10255823?page=9"> Our customers also are responding positively to o</a> <a title="FMCTechnologies2015AnnualReport page 10" href="http://viewer.zmags.com/publication/10255823?page=10"> NEW TECHNOLOGIES. ROBOTS ON THE SEABED. ALLOYS TH</a> <a title="FMCTechnologies2015AnnualReport page 11" href="http://viewer.zmags.com/publication/10255823?page=11"> SURFACE TECHNOLOGIES The market downturn severel</a> <a title="FMCTechnologies2015AnnualReport page 12" href="http://viewer.zmags.com/publication/10255823?page=12"> THE BEST MINDS. WE TRAIN OUR EMPLOYEES IN HOW TO </a> <a title="FMCTechnologies2015AnnualReport page 13" href="http://viewer.zmags.com/publication/10255823?page=13"> These values also embrace the communities beyond </a> <a title="FMCTechnologies2015AnnualReport page 14" href="http://viewer.zmags.com/publication/10255823?page=14"> GOVERNANCE Board of Directors 1 Audit </a> <a title="FMCTechnologies2015AnnualReport page 15" href="http://viewer.zmags.com/publication/10255823?page=15"> UNITED STATES SECU</a> <a title="FMCTechnologies2015AnnualReport page 16" href="http://viewer.zmags.com/publication/10255823?page=16"> TABLE OF CONTENTS Page PART I Item 1. Business</a> <a title="FMCTechnologies2015AnnualReport page 17" href="http://viewer.zmags.com/publication/10255823?page=17"> Cautionary Note Regarding Forward-Looking Stateme</a> <a title="FMCTechnologies2015AnnualReport page 18" href="http://viewer.zmags.com/publication/10255823?page=18"> services. The acquisition of Pure Energy compleme</a> <a title="FMCTechnologies2015AnnualReport page 19" href="http://viewer.zmags.com/publication/10255823?page=19"> BUSINESS SEGMENTS Subsea Technologies Subsea Te</a> <a title="FMCTechnologies2015AnnualReport page 20" href="http://viewer.zmags.com/publication/10255823?page=20"> Multi Phase Meters. We design and manufacture mul</a> <a title="FMCTechnologies2015AnnualReport page 21" href="http://viewer.zmags.com/publication/10255823?page=21"> Seasonality In the North Sea, winter weather gen</a> <a title="FMCTechnologies2015AnnualReport page 22" href="http://viewer.zmags.com/publication/10255823?page=22"> Dependence on Key Customers No single Surface Te</a> <a title="FMCTechnologies2015AnnualReport page 23" href="http://viewer.zmags.com/publication/10255823?page=23"> exposed locations. Both our land- and marine-base</a> <a title="FMCTechnologies2015AnnualReport page 24" href="http://viewer.zmags.com/publication/10255823?page=24"> system was completed in 2015, and the system was </a> <a title="FMCTechnologies2015AnnualReport page 25" href="http://viewer.zmags.com/publication/10255823?page=25"> We protect and promote our intellectual property </a> <a title="FMCTechnologies2015AnnualReport page 26" href="http://viewer.zmags.com/publication/10255823?page=26"> EXECUTIVE OFFICERS OF THE REGISTRANT Information</a> <a title="FMCTechnologies2015AnnualReport page 27" href="http://viewer.zmags.com/publication/10255823?page=27"> ITEM 1A.RISK FACTORS Important risk factors that</a> <a title="FMCTechnologies2015AnnualReport page 28" href="http://viewer.zmags.com/publication/10255823?page=28"> incur substantial liability and the damages are n</a> <a title="FMCTechnologies2015AnnualReport page 29" href="http://viewer.zmags.com/publication/10255823?page=29"> emissions from certain sources, including onshore</a> <a title="FMCTechnologies2015AnnualReport page 30" href="http://viewer.zmags.com/publication/10255823?page=30"> · foreign ownership restrictions; · import</a> <a title="FMCTechnologies2015AnnualReport page 31" href="http://viewer.zmags.com/publication/10255823?page=31"> Due to the types of contracts we enter into, the </a> <a title="FMCTechnologies2015AnnualReport page 32" href="http://viewer.zmags.com/publication/10255823?page=32"> Uninsured claims and litigation against us, inclu</a> <a title="FMCTechnologies2015AnnualReport page 33" href="http://viewer.zmags.com/publication/10255823?page=33"> A downgrade in our debt rating could restrict our</a> <a title="FMCTechnologies2015AnnualReport page 34" href="http://viewer.zmags.com/publication/10255823?page=34"> ITEM 2. PROPERTIES We lease our corporate head</a> <a title="FMCTechnologies2015AnnualReport page 35" href="http://viewer.zmags.com/publication/10255823?page=35"> PART II ITEM 5. MARKET FOR REGISTRANT'S COMM</a> <a title="FMCTechnologies2015AnnualReport page 36" href="http://viewer.zmags.com/publication/10255823?page=36"> The following table summarizes repurchases of our</a> <a title="FMCTechnologies2015AnnualReport page 37" href="http://viewer.zmags.com/publication/10255823?page=37"> ITEM 6. SELECTED FINANCIAL DATA The following </a> <a title="FMCTechnologies2015AnnualReport page 38" href="http://viewer.zmags.com/publication/10255823?page=38"> ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF</a> <a title="FMCTechnologies2015AnnualReport page 39" href="http://viewer.zmags.com/publication/10255823?page=39"> Business Outlook Overall Outlook—Along with vola</a> <a title="FMCTechnologies2015AnnualReport page 40" href="http://viewer.zmags.com/publication/10255823?page=40"> Surface Technologies—With the decline in crude oi</a> <a title="FMCTechnologies2015AnnualReport page 41" href="http://viewer.zmags.com/publication/10255823?page=41"> CONSOLIDATED RESULTS OF OPERATIONS YEARS EN</a> <a title="FMCTechnologies2015AnnualReport page 42" href="http://viewer.zmags.com/publication/10255823?page=42"> Information regarding impairment and restructurin</a> <a title="FMCTechnologies2015AnnualReport page 43" href="http://viewer.zmags.com/publication/10255823?page=43"> Other income (expense), net, reflected a $33.4 mi</a> <a title="FMCTechnologies2015AnnualReport page 44" href="http://viewer.zmags.com/publication/10255823?page=44"> OPERATING RESULTS OF BUSINESS SEGMENTS YEARS EN</a> <a title="FMCTechnologies2015AnnualReport page 45" href="http://viewer.zmags.com/publication/10255823?page=45"> 2014 Compared With 2013 Subsea Technologies' rev</a> <a title="FMCTechnologies2015AnnualReport page 46" href="http://viewer.zmags.com/publication/10255823?page=46"> 2014 Compared With 2013 Surface Technologies' re</a> <a title="FMCTechnologies2015AnnualReport page 47" href="http://viewer.zmags.com/publication/10255823?page=47"> Corporate Items (In millions, except %) Corpo</a> <a title="FMCTechnologies2015AnnualReport page 48" href="http://viewer.zmags.com/publication/10255823?page=48"> Order backlog—Order backlog is calculated as the </a> <a title="FMCTechnologies2015AnnualReport page 49" href="http://viewer.zmags.com/publication/10255823?page=49"> The following is a reconciliation of our cash and</a> <a title="FMCTechnologies2015AnnualReport page 50" href="http://viewer.zmags.com/publication/10255823?page=50"> Financing cash flows—Cash required by financing a</a> <a title="FMCTechnologies2015AnnualReport page 51" href="http://viewer.zmags.com/publication/10255823?page=51"> commercial paper borrowings were classified as lo</a> <a title="FMCTechnologies2015AnnualReport page 52" href="http://viewer.zmags.com/publication/10255823?page=52"> program; however, we are currently unable to esti</a> <a title="FMCTechnologies2015AnnualReport page 53" href="http://viewer.zmags.com/publication/10255823?page=53"> Other Off-Balance Sheet Arrangements The followi</a> <a title="FMCTechnologies2015AnnualReport page 54" href="http://viewer.zmags.com/publication/10255823?page=54"> Critical Accounting Estimates The preparation of</a> <a title="FMCTechnologies2015AnnualReport page 55" href="http://viewer.zmags.com/publication/10255823?page=55"> The total estimated contract cost in the percenta</a> <a title="FMCTechnologies2015AnnualReport page 56" href="http://viewer.zmags.com/publication/10255823?page=56"> the oilfield services industry, driven by the dec</a> <a title="FMCTechnologies2015AnnualReport page 57" href="http://viewer.zmags.com/publication/10255823?page=57"> goodwill impairments tests for both these reporti</a> <a title="FMCTechnologies2015AnnualReport page 58" href="http://viewer.zmags.com/publication/10255823?page=58"> The need for a valuation allowance is sensitive t</a> <a title="FMCTechnologies2015AnnualReport page 59" href="http://viewer.zmags.com/publication/10255823?page=59"> Holding other assumptions constant, the following</a> <a title="FMCTechnologies2015AnnualReport page 60" href="http://viewer.zmags.com/publication/10255823?page=60"> Foreign Currency Exchange Rate Risk We conduct o</a> <a title="FMCTechnologies2015AnnualReport page 61" href="http://viewer.zmags.com/publication/10255823?page=61"> ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTAR</a> <a title="FMCTechnologies2015AnnualReport page 62" href="http://viewer.zmags.com/publication/10255823?page=62"> REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTIN</a> <a title="FMCTechnologies2015AnnualReport page 63" href="http://viewer.zmags.com/publication/10255823?page=63"> REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTIN</a> <a title="FMCTechnologies2015AnnualReport page 64" href="http://viewer.zmags.com/publication/10255823?page=64"> FMC TECHNOLOGIES, INC. AND CONSOLIDATED SUBSIDIAR</a> <a title="FMCTechnologies2015AnnualReport page 65" href="http://viewer.zmags.com/publication/10255823?page=65"> FMC TECHNOLOGIES, INC. AND CONSOLIDATED SUBSIDIAR</a> <a title="FMCTechnologies2015AnnualReport page 66" href="http://viewer.zmags.com/publication/10255823?page=66"> FMC TECHNOLOGIES, INC. AND CONSOLIDATED SUBSIDIAR</a> <a title="FMCTechnologies2015AnnualReport page 67" href="http://viewer.zmags.com/publication/10255823?page=67"> FMC TECHNOLOGIES, INC. AND CONSOLIDATED SUBSIDIAR</a> <a title="FMCTechnologies2015AnnualReport page 68" href="http://viewer.zmags.com/publication/10255823?page=68"> FMC TECHNOLOGIES, INC. AND CONSOLIDATED SUBSIDIAR</a> <a title="FMCTechnologies2015AnnualReport page 69" href="http://viewer.zmags.com/publication/10255823?page=69"> FMC TECHNOLOGIES, INC. AND CONSOLIDATED SUBSIDIAR</a> <a title="FMCTechnologies2015AnnualReport page 70" href="http://viewer.zmags.com/publication/10255823?page=70"> Revenue recognition—Revenue is generally recogniz</a> <a title="FMCTechnologies2015AnnualReport page 71" href="http://viewer.zmags.com/publication/10255823?page=71"> Investments—The appropriate classification of inv</a> <a title="FMCTechnologies2015AnnualReport page 72" href="http://viewer.zmags.com/publication/10255823?page=72"> Fair value measurements—We record our financial a</a> <a title="FMCTechnologies2015AnnualReport page 73" href="http://viewer.zmags.com/publication/10255823?page=73"> when additional specific obligations are identifi</a> <a title="FMCTechnologies2015AnnualReport page 74" href="http://viewer.zmags.com/publication/10255823?page=74"> Effective July 1, 2015, we adopted ASU No. 2015-0</a> <a title="FMCTechnologies2015AnnualReport page 75" href="http://viewer.zmags.com/publication/10255823?page=75"> arrangements as either the acquisition of a softw</a> <a title="FMCTechnologies2015AnnualReport page 76" href="http://viewer.zmags.com/publication/10255823?page=76"> which resulted in the recognition of severance co</a> <a title="FMCTechnologies2015AnnualReport page 77" href="http://viewer.zmags.com/publication/10255823?page=77"> Net inventories accounted for under the LIFO meth</a> <a title="FMCTechnologies2015AnnualReport page 78" href="http://viewer.zmags.com/publication/10255823?page=78"> NOTE 8. PROPERTY, PLANT AND EQUIPMENT Property, </a> <a title="FMCTechnologies2015AnnualReport page 79" href="http://viewer.zmags.com/publication/10255823?page=79"> All of our acquired identifiable intangible asset</a> <a title="FMCTechnologies2015AnnualReport page 80" href="http://viewer.zmags.com/publication/10255823?page=80"> Term loan—In August 2013, we entered into a R$60.</a> <a title="FMCTechnologies2015AnnualReport page 81" href="http://viewer.zmags.com/publication/10255823?page=81"> of the $37.4 million gain on the transaction and </a> <a title="FMCTechnologies2015AnnualReport page 82" href="http://viewer.zmags.com/publication/10255823?page=82"> Contingent liabilities associated with legal matt</a> <a title="FMCTechnologies2015AnnualReport page 83" href="http://viewer.zmags.com/publication/10255823?page=83"> Accumulated other comprehensive loss—Accumulated </a> <a title="FMCTechnologies2015AnnualReport page 84" href="http://viewer.zmags.com/publication/10255823?page=84"> NOTE 14. INCOME TAXES Components of income (loss</a> <a title="FMCTechnologies2015AnnualReport page 85" href="http://viewer.zmags.com/publication/10255823?page=85"> Deferred tax assets and liabilities—Significant c</a> <a title="FMCTechnologies2015AnnualReport page 86" href="http://viewer.zmags.com/publication/10255823?page=86"> Unrecognized tax benefits—The following table pre</a> <a title="FMCTechnologies2015AnnualReport page 87" href="http://viewer.zmags.com/publication/10255823?page=87"> Effective income tax rate reconciliation—The effe</a> <a title="FMCTechnologies2015AnnualReport page 88" href="http://viewer.zmags.com/publication/10255823?page=88"> Also on June 1, 2014, the U.S. Qualified Pension </a> <a title="FMCTechnologies2015AnnualReport page 89" href="http://viewer.zmags.com/publication/10255823?page=89"> Other Post-retirement Pensions </a> <a title="FMCTechnologies2015AnnualReport page 90" href="http://viewer.zmags.com/publication/10255823?page=90"> The following table summarizes the components of </a> <a title="FMCTechnologies2015AnnualReport page 91" href="http://viewer.zmags.com/publication/10255823?page=91"> Included in accumulated other comprehensive incom</a> <a title="FMCTechnologies2015AnnualReport page 92" href="http://viewer.zmags.com/publication/10255823?page=92"> · Insurance contracts are valued at book value, </a> <a title="FMCTechnologies2015AnnualReport page 93" href="http://viewer.zmags.com/publication/10255823?page=93"> U.S. Non-Qualified Defined Benefit Pension Plan i</a> <a title="FMCTechnologies2015AnnualReport page 94" href="http://viewer.zmags.com/publication/10255823?page=94"> incentive awards, stock options, stock appreciati</a> <a title="FMCTechnologies2015AnnualReport page 95" href="http://viewer.zmags.com/publication/10255823?page=95"> For current-year performance-based awards, the pa</a> <a title="FMCTechnologies2015AnnualReport page 96" href="http://viewer.zmags.com/publication/10255823?page=96"> We hold the following types of derivative instrum</a> <a title="FMCTechnologies2015AnnualReport page 97" href="http://viewer.zmags.com/publication/10255823?page=97"> We recognized a loss of $11.9 million and gains o</a> <a title="FMCTechnologies2015AnnualReport page 98" href="http://viewer.zmags.com/publication/10255823?page=98"> The following table presents the location of gain</a> <a title="FMCTechnologies2015AnnualReport page 99" href="http://viewer.zmags.com/publication/10255823?page=99"> NOTE 18. FAIR VALUE MEASUREMENTS Assets and liab</a> <a title="FMCTechnologies2015AnnualReport page 100" href="http://viewer.zmags.com/publication/10255823?page=100"> non-financial assets measured on a non-recurring </a> <a title="FMCTechnologies2015AnnualReport page 101" href="http://viewer.zmags.com/publication/10255823?page=101"> NOTE 20. BUSINESS SEGMENTS We report the results</a> <a title="FMCTechnologies2015AnnualReport page 102" href="http://viewer.zmags.com/publication/10255823?page=102"> Segment revenue and segment operating profit Yea</a> <a title="FMCTechnologies2015AnnualReport page 103" href="http://viewer.zmags.com/publication/10255823?page=103"> Segment operating capital employed and segment as</a> <a title="FMCTechnologies2015AnnualReport page 104" href="http://viewer.zmags.com/publication/10255823?page=104"> Geographic segment information Geographic segmen</a> <a title="FMCTechnologies2015AnnualReport page 105" href="http://viewer.zmags.com/publication/10255823?page=105"> NOTE 21. QUARTERLY INFORMATION (UNAUDITED) 2015 </a> <a title="FMCTechnologies2015AnnualReport page 106" href="http://viewer.zmags.com/publication/10255823?page=106"> ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACC</a> <a title="FMCTechnologies2015AnnualReport page 107" href="http://viewer.zmags.com/publication/10255823?page=107"> PART III ITEM 10. DIRECTORS, EXECUTIVE OFFICER</a> <a title="FMCTechnologies2015AnnualReport page 108" href="http://viewer.zmags.com/publication/10255823?page=108"> ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRAN</a> <a title="FMCTechnologies2015AnnualReport page 109" href="http://viewer.zmags.com/publication/10255823?page=109"> PART IV ITEM 15. EXHIBITS, FINANCIAL STATEMENT</a> <a title="FMCTechnologies2015AnnualReport page 110" href="http://viewer.zmags.com/publication/10255823?page=110"> (In millions) Description Year Ended December</a> <a title="FMCTechnologies2015AnnualReport page 111" href="http://viewer.zmags.com/publication/10255823?page=111"> SIGNATURES Pursuant to the requirements</a> <a title="FMCTechnologies2015AnnualReport page 112" href="http://viewer.zmags.com/publication/10255823?page=112"> Date February 24, 2016 February 24, 2016 </a> <a title="FMCTechnologies2015AnnualReport page 113" href="http://viewer.zmags.com/publication/10255823?page=113"> INDEX OF EXHIBITS Exhibit No. </a> <a title="FMCTechnologies2015AnnualReport page 114" href="http://viewer.zmags.com/publication/10255823?page=114"> Exhibit No. Exhibit Descripti</a> <a title="FMCTechnologies2015AnnualReport page 115" href="http://viewer.zmags.com/publication/10255823?page=115"> Exhibit No. Exhibit Descripti</a> <a title="FMCTechnologies2015AnnualReport page 116" href="http://viewer.zmags.com/publication/10255823?page=116"> Exhibit No. Exhibit Descripti</a> <a title="FMCTechnologies2015AnnualReport page 117" href="http://viewer.zmags.com/publication/10255823?page=117"> COMPANY INFORMATION Corporate Office FMC Te</a> <a title="FMCTechnologies2015AnnualReport page 118" href="http://viewer.zmags.com/publication/10255823?page=118"> </a>