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Source: businesswire | Published on: Thursday, 27 February 2025
NEWCASTLE & HOUSTON--(BUSINESS WIRE)--TechnipFMC plc (NYSE: FTI) today reported fourth quarter 2024 results.
Summary Financial Results from Continuing Operations - Fourth Quarter 2024 Reconciliation of U.S. GAAP to non-GAAP financial measures are provided in financial schedules. | |||||||||||
| Three Months Ended | Change | |||||||||
(In millions, except per share amounts) | Dec. 31, | ||||||||||
Cash and cash equivalents | $ | 1,157.7 |
|
| $ | 837.5 |
|
| $ | 951.7 |
|
Short-term debt and current portion of long-term debt |
| (277.9 | ) |
|
| (310.4 | ) |
|
| (153.8 | ) |
Long-term debt, less current portion |
| (607.3 | ) |
|
| (656.3 | ) |
|
| (913.5 | ) |
Net cash (debt) | $ | 272.5 |
|
| $ | (129.2 | ) |
| $ | (115.6 | ) |
Net cash (debt) 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, or net debt, is a meaningful financial measure that may assist investors in understanding our financial condition and recognizing underlying trends in our capital structure. Net cash (debt) 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. | |||||||||||
Exhibit 11 | |||||||||||
TECHNIPFMC PLC AND CONSOLIDATED SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (In millions, unaudited) | |||||||||||
| Three Months Ended |
| Year Ended | ||||||||
|
| 2024 |
|
|
| 2024 |
|
|
| 2023 |
|
Cash provided by operating activities | $ | 578.9 |
|
| $ | 961.0 |
|
| $ | 693.0 |
|
Capital expenditures |
| (126.2 | ) |
|
| (281.6 | ) |
|
| (225.2 | ) |
Free cash flow | $ | 452.7 |
|
| $ | 679.4 |
|
| $ | 467.8 |
|
Free cash flow, is a non-GAAP financial measure and is defined as cash provided by operating activities less capital expenditures. Management uses this non-GAAP financial measure to evaluate our financial condition. We believe from operations, free cash flow is a meaningful financial measure that may assist investors in understanding our financial condition and results of operations. | |||||||||||
