TechnipFMC plc Announces Filing of Current Report on Form 8-K Revising Certain Financial Information and Related Disclosures Included in TechnipFMC plc's Annual Report on Form 10-K for the Fiscal Year Ended December 31, 2020
14 Septembre 2021 - 12:44AM
Business Wire
Regulatory News:
TechnipFMC plc (“TechnipFMC”) (NYSE: FTI) (Paris: FTI)
(ISIN: GB00BDSFG982) announces that on 8 September 2021, it filed
its Current Report on Form 8-K solely to revise certain financial
information and related disclosures included in TechnipFMC's Annual
Report on Form 10-K for the fiscal year ended December 31, 2020
originally filed with the U.S. Securities and Exchange Commission
(the “SEC”) on March 5, 2021 (the “2020 Form
10-K”).
On February 16, 2021, TechnipFMC completed the separation of its
former Technip Energies business segment. The transaction was
structured as a spin-off (the “Spin-off”), which occurred by
way of a pro rata dividend (the “Distribution”) to its
shareholders of 50.1 percent of the outstanding shares of Technip
Energies N.V. Each shareholder of TechnipFMC received one ordinary
share of Technip Energies N.V. for every five ordinary shares of
TechnipFMC held at 5:00 p.m., New York City time on the record
date, February 17, 2021. For all periods presented in the Form 8-K,
the historical results of operations of the former Technip Energies
reportable segment and its assets and liabilities have been
included within discontinued operations in TechnipFMC's
consolidated financial statements.
The Form 8-K was filed solely to recast financial information to
revise certain related disclosures contained in the 2020 Form 10-K
to reflect the Spin-off and to reflect the retrospective changes
for all periods presented. The following items of the 2020 Form
10-K are being revised (collectively, the “Revised
Sections”) as reflected in Exhibit 99.1 to the Current Report
on Form 8-K.
- Part II, Item 7. Management's Discussion and Analysis of
Financial Condition and Results of Operations;
- Part II, Item 7A. Quantitative and Qualitative Disclosures
about Market Risk;
- Part II, Item 8. Financial Statements and Supplementary Data;
and
- Part IV, Item 15(a)(2), Financial Statement Schedule.
The disclosures in the Revised Sections were updated to reflect
TechnipFMC’s results as if the discontinued operations criteria for
its former Technip Energies reportable segment had been met during
the periods being presented. Other than Note 25 of Part II, Item 8
"Financial Statements and Supplementary Data," the Revised
Sections, including Management’s Discussion and Analysis of
Financial Condition and Results of Operations and TechnipFMC’s
Business Outlook contained therein, do not reflect events occurring
after the filing of the 2020 Form 10-K and do not modify or update
the disclosures therein in any way for any information,
uncertainties, transactions, risks, events or trends occurring, or
known to management, other than as specifically required to reflect
the discontinued operations presentation. Other than the Revised
Sections filed with the Current Report on Form 8-K, all other
information in the 2020 Form 10-K remains unchanged and has not
been otherwise updated for events occurring after the filing of the
2020 Form 10-K, and continues to speak only as of the original
filing date.
More recent information, including risk factors, is contained in
TechnipFMC’s quarterly reports on Form 10-Q for the quarterly
periods ended March 31, 2021 (the “Q1 Form 10-Q”) and June
30, 2021 (the “Q2 Form 10-Q”) and other filings made by
TechnipFMC with the SEC. Such filings contain important information
regarding events, developments, and updates affecting TechnipFMC
and its expectations, including those that have occurred since the
filing of the 2020 Form 10-K. Accordingly, the Current Report on
Form 8-K should be read in conjunction with the Q1 Form 10-Q, Q2
Form 10-Q and other filings made by TechnipFMC with the SEC
subsequent to the filing of the 2020 Form 10-K.
The Annual Report on Form 10-K includes audited consolidated
financial statements prepared under U.S. GAAP for the fiscal year
ended 31 December 2020.
A copy of the Annual Report on Form 10-K can be found on the SEC
website (www.sec.gov) and on the TechnipFMC website
(investors.technipfmc.com).
Category: UK regulatory
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Tuley
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