Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Schedule of domestic and foreign components of income before taxes

Domestic and foreign components of income (loss) before income taxes were as follows:

	Year Ended December 31,
(In millions)	2015			2014		2013
Domestic	$	(67.7	)	$	353.2	$	150.7
Foreign	568.6			707.7		563.3
Income before income taxes attributable to FMC Technologies, Inc.	$	500.9		$	1,060.9	$	714.0

Provision for income taxes

The provision for income taxes consisted of:

	Year Ended December 31,
(In millions)	2015			2014			2013
Current:
Federal	$	15.9		$	139.6		$	77.8
State	(2.7		)	11.7			5.6
Foreign	82.5			227.8			149.6
Total current	95.7			379.1			233.0
Deferred:
Increase in the valuation allowance for deferred tax assets	27.7			34.1			0.5
Decrease of deferred tax liability for change in tax rates	(3.9		)	(2.3		)	(4.3		)
Other deferred tax (benefit) expense	(11.7		)	(49.9		)	(16.6		)
Total deferred	12.1			(18.1		)	(20.4		)
Provision for income taxes	$	107.8		$	361.0		$	212.6

Deferred tax assets and liabilities

Significant components of deferred tax assets and liabilities were as follows:

	December 31,
(In millions)	2015			2014
Deferred tax assets attributable to:
Accrued expenses	$	55.0		$	58.0
Non-deductible interest	43.8			29.2
Foreign tax credit carryforwards	29.3			29.3
Accrued pension and other post-retirement benefits	88.8			91.8
Stock-based compensation	34.4			28.9
Net operating loss carryforwards	44.7			48.7
Inventories	43.0			31.7
Norwegian correction tax	—			50.4
Research and development credit	4.7			—
Foreign exchange	4.1			40.2
Deferred tax assets	347.8			408.2
Valuation allowance	(58.3		)	(38.9		)
Deferred tax assets, net of valuation allowance	289.5			369.3
Deferred tax liabilities attributable to:
Revenue in excess of billings on contracts accounted for under the percentage of completion method	87.8			105.2
U.S. tax on foreign subsidiaries’ undistributed earnings not indefinitely reinvested	0.2			52.5
Property, plant and equipment, goodwill and other assets	116.4			142.8
Deferred tax liabilities	204.4			300.5
Net deferred tax assets (liabilities)	$	85.1		$	68.8

Unrecognized tax benefits and associated interest and penalties

The following table presents a summary of changes in our unrecognized tax benefits and associated interest and penalties:

(In millions)	Federal, State and Foreign Tax			Accrued Interest and Penalties			Total Gross Unrecognized Income Tax Benefits
Balance at December 31, 2012	$	30.5		$	6.4		$	36.9
Additions for tax positions related to prior years	3.1			0.4			3.5
Additions for tax positions related to current year	3.5			0.3			3.8
Balance at December 31, 2013	$	37.1		$	7.1		$	44.2
Additions for tax positions related to prior years	0.6			0.4			1.0
Reductions for tax positions due to settlements	(1.4		)	(0.3		)	(1.7		)
Balance at December 31, 2014	$	36.3		$	7.2		$	43.5
Additions for tax positions related to prior years	7.3			1.3			8.6
Additions for tax positions related to current year	6.1			—			6.1
Reductions for tax positions due to settlements	(40.4		)	(7.8		)	(48.2		)
Balance at December 31, 2015	$	9.3		$	0.7		$	10.0

Reconciliation of effective tax rate

The effective income tax rate was different from the statutory U.S. federal income tax rate due to the following:

	Year Ended December 31,
	2015		2014		2013
Statutory U.S. federal income tax rate	35	%	35	%	35	%
Net difference resulting from:
Foreign earnings subject to different tax rates:
Singapore	(8	)	(1	)	2
Malaysia	(4	)	(1	)	(3	)
Luxembourg	(4	)	(4	)	(6	)
Other	(7	)	(2	)	(6	)
Foreign earnings subject to U.S. tax	3		2		2
Non-deductible Multi Phase Meters earn-out adjustments	—		—		1
Settlement of foreign audits	—		—		1
Foreign withholding taxes	3		2		3
Change in valuation allowance	6		3		—
Other	(2	)	—		1
Effective income tax rate	22	%	34	%	30	%