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Business Segment Information
 6 Months Ended
Jun. 30, 2012
Segment Reporting, Measurement Disclosures [Abstract]  
Business Segment Information
Business Segment Information
Segment revenue and segment operating profit were as follows:
 
 
Three Months Ended
 
Six Months Ended
 
 June 30,
 
 June 30,
(In millions)
2012
 
2011
 
2012
 
2011
Segment revenue
 
 
 
 
 
 
 
Subsea Technologies
$
945.8

 
$
801.0

 
$
1,840.7

 
$
1,490.5

Surface Technologies
413.8

 
310.3

 
791.6

 
601.6

Energy Infrastructure
139.4

 
120.2

 
276.4

 
223.2

Other revenue (1) and intercompany eliminations
(4.1
)
 
(2.1
)
 
(17.2
)
 
(4.0
)
Total revenue
$
1,494.9

 
$
1,229.4

 
$
2,891.5

 
$
2,311.3

Income before income taxes:
 
 
 
 
 
 
 
Segment operating profit:
 
 
 
 
 
 
 
Subsea Technologies
$
109.7

 
$
84.0

 
$
184.8

 
$
154.0

Surface Technologies
84.2

 
56.5

 
162.2

 
107.9

Energy Infrastructure
9.1

 
10.7

 
18.4

 
15.2

Total segment operating profit
203.0

 
151.2

 
365.4

 
277.1

Corporate items:
 
 
 
 
 
 
 
Corporate expense (2)
(10.4
)
 
(10.6
)
 
(18.9
)
 
(19.0
)
Other revenue (1) and other expense, net (3) 
(29.7
)
 
(2.0
)
 
(50.6
)
 
(10.2
)
Net interest expense
(6.4
)
 
(2.1
)
 
(9.9
)
 
(3.6
)
Total corporate items
(46.5
)
 
(14.7
)
 
(79.4
)
 
(32.8
)
Income before income taxes attributable to FMC Technologies, Inc.
$
156.5

 
$
136.5

 
$
286.0

 
$
244.3

 _______________________  
(1)
Other revenue comprises certain unrealized gains and losses on derivative instruments related to unexecuted sales contracts.
(2)
Corporate expense primarily includes corporate staff expenses.
(3)
Other expense, net, generally includes stock-based compensation, other employee benefits, LIFO adjustments, certain foreign exchange gains and losses and the impact of unusual or strategic transactions not representative of segment operations.
Segment operating capital employed and assets were as follows:
 
(In millions)
June 30, 2012
 
December 31, 2011
Segment operating capital employed (1):
 
 
 
Subsea Technologies
$
1,744.1

 
$
1,218.2

Surface Technologies
811.3

 
620.5

Energy Infrastructure
476.3

 
365.5

Total segment operating capital employed
3,031.7

 
2,204.2

Segment liabilities included in total segment operating capital employed (2)
1,544.8

 
1,521.1

Corporate (3)
437.0

 
545.7

Total assets
$
5,013.5

 
$
4,271.0

Segment assets:
 
 
 
Subsea Technologies
$
2,911.4

 
$
2,377.7

Surface Technologies
1,086.3

 
879.1

Energy Infrastructure
600.5

 
488.0

Intercompany eliminations
(21.7
)
 
(19.5
)
Total segment assets
4,576.5

 
3,725.3

Corporate (3)
437.0

 
545.7

Total assets
$
5,013.5

 
$
4,271.0

  _______________________  
(1)
FMC’s management views segment operating capital employed, which consists of assets, net of its liabilities, as the primary measure of segment capital. Segment operating capital employed excludes debt, pension liabilities, income taxes and LIFO inventory reserves.
(2)
Segment liabilities included in total segment operating capital employed consist of trade and other accounts payable, advance payments and progress billings, accrued payroll and other liabilities.
(3)
Corporate includes cash, LIFO inventory reserves, deferred income tax balances, property, plant and equipment not associated with a specific segment, pension assets and the fair value of derivative financial instruments.