Short answer
TechnipFMC plc (FTI) filed its fiscal 2016 10-K annual report with the SEC on Jan 13, 2017. It reported revenue of $0 and net income of −$11,900.
- Top risk flagged: IRS Section 7874 challenge: U.S. domestic tax treatment if former FMCTI holders’ ownership reaches 60%
FY2016 key financial metrics · XBRL
- Revenue
- $0
- Net income
- −$11,900
- EPS (diluted)
- $3.16
- ROE
- -16.1%
- Operating cash flow
- $494M
Source: XBRL data from the TechnipFMC plc (FTI) FY2016 10-K on SEC EDGAR. USD.
TechnipFMC plc FY2016 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Planned combination of FMC Technologies and Technip to create a global oil-and-gas systems and services leader
- No operating business yet, TechnipFMC served as transaction holding company
- Strategic positioning shifted toward integrated Subsea, Surface and Onshore/Offshore capabilities
- Merger terms: 2.00 TechnipFMC shares per Technip share, 1.00 per FMCTI share
- Expected post-merger listings on NYSE and Euronext Paris
Management Discussion & Analysis
- No operating revenue, profit, margins, cash flow, buybacks, dividends, or capex disclosed
- Formation-stage entity, no business operations beyond merger-related activities
- Planned combination with Technip and FMC Technologies, subject to merger terms
- Expected post-merger listings on NYSE and Euronext Paris
- Key risk: completion of announced Mergers and related transaction conditions
Risk Factors
- IRS Section 7874 challenge: U.S. domestic tax treatment if former FMCTI holders’ ownership reaches 60%
- Brexit exposure: U.K. headquarters and material European operations face disrupted trade access and higher tax costs
- Integration vulnerability: Technip-FMC merger requires combining geographically separate organizations and information systems
- Competitive consolidation: Schlumberger-Cameron merger and proposed GE Oil & Gas-Baker Hughes combination threaten pricing power
- Debt covenant risk: Breaches could accelerate indebtedness and trigger cross-defaults or bankruptcy നടപട unerquicklich
Generated from the filing text; verify against the original. How to read a 10-K
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