UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15 (d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
December 29, 2006

FMC TECHNOLOGIES, INC.
(Exact name of registrant as specified in its charter)

 
 	 	 	 	 	 	
Delaware	 	1-16489	 	36-4412642	 	
(State or other jurisdiction
of incorporation)	 	(Commission File Number)	 	(I.R.S. Employer
Identification No.)	 	
 	 	 	 	 	 	
1803 Gears Road, Houston, TX 77067
(Address of principal executive offices) (Zip Code)
(281) 591-4000
Registrant’s telephone number, including area code

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
¨	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)	
 
¨	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)	
 
¨	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))	
 
¨	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))	

SECTION 2 – Financial Information
ITEM 2.01. COMPLETION OF ACQUISITION OR DISPOSITION OF ASSETS.
On December 29, 2006, FMC Technologies, Inc. (the “Company”) completed the sale of its Floating Systems business to MODEC, Inc. for $54.4 million in cash. The sales agreement was previously announced on November 29, 2006. The Company’s Floating Systems business develops and manufactures SOFEC® turrets and mooring systems for floating production storage and offloading vessels and offshore marine loading systems.
Until the sale date, Floating Systems’ results were consolidated into the Energy Production Systems segment of the Company’s financial statements. Subsequent to the sale, the Company has no continuing involvement in floating production systems. Accordingly, in the Company’s 2006 annual report on Form 10-K, Floating Systems’ results, as well as those of a minor FoodTech unit, will be reported as discontinued operations for all periods presented.
The Company, through its Floating Systems subsidiary, was a partner in the MODEC International LLC joint venture with MODEC, Inc. until 2004, at which time the Company sold its share of the joint venture to MODEC, Inc. for a combination of cash and common stock. In 2005, the Company sold all of its shares of MODEC, Inc. common stock, thereby ending the related party affiliation.
SECTION 9 – Financial Statements and Exhibits
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.
(b)(1) Pro Forma Financial Information:
Included as Exhibit 99.1 to this Form 8-K are (i) unaudited pro forma condensed consolidated statements of income for the nine months ended September 30, 2006 and the year ended December 31, 2005 that give effect to the sale of Floating Systems as if the sale had occurred on January 1, 2005 and (ii) an unaudited pro forma condensed consolidated balance sheet as of September 30, 2006 that gives effect to the sale of Floating Systems as if the sale had occurred on September 30, 2006.
These unaudited pro forma financial statements are presented for illustrative purposes only and are not necessarily indicative of the operating results or the financial position that would have been achieved had the sale of Floating Systems been completed as of the dates indicated or of the results that may be obtained in the future. These unaudited pro forma financial statements and the accompanying notes should be read together with (i) the Company’s annual report on Form 10-K for the year ended December 31, 2005 and (ii) the Company’s quarterly report on Form 10-Q for the quarter ended September 30, 2006.
(d) Exhibits:
 
 	99.1	Unaudited pro forma financial statements:	
 
 	(i)	Unaudited Pro Forma Condensed Consolidated Statement of Income for the nine months ended September 30, 2006	
 
 	(ii)	Unaudited Pro Forma Condensed Consolidated Statement of Income for the year ended December 31, 2005	
 
 	(iii)	Unaudited Pro Forma Condensed Consolidated Balance Sheet as of September 30, 2006	

SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

FMC TECHNOLOGIES, INC.	
 	 	
By:	 	William H. Schumann, III	
 	 	William H. Schumann, III	
 	 	Senior Vice President and Chief Financial Officer	
 	 	 	
Date: January 3, 2007

Exhibit 99.1
FMC TECHNOLOGIES, INC. AND CONSOLIDATED SUBSIDIARIES
UNAUDITED PRO FORMA CONDENSED CONSOLIDATED STATEMENT OF INCOME
(In millions, except per share amounts)

 	  	For the nine months ended September 30, 2006	 	
 	  	Historical	 	 	Adjustments	 	 	Pro Forma	 	
Revenue	  	$	2,828.5	 	 	$	(112.5	)(a)	 	$	2,716.0	 	
Costs and expenses:	  	 	 	 	 	 	 	 	 	 	 	 	
Cost of sales	  	 	2,228.0	 	 	 	(70.7	)(a)	 	 	2,157.3	 	
Selling, general and administrative expense	  	 	306.9	 	 	 	(6.3	)(a)	 	 	300.6	 	
Research and development expense	  	 	36.5	 	 	 	(0.6	)(a)	 	 	35.9	 	
 	  	 	 	 	 	 	 	 	 	 	 	 	
Total costs and expenses	  	 	2,571.4	 	 	 	(77.6	)	 	 	2,493.8	 	
Net gain on disposal of assets	  	 	1.2	 	 	 	 	 	 	 	1.2	 	
Minority interests	  	 	(1.4	)	 	 	 	 	 	 	(1.4	)	
 	  	 	 	 	 	 	 	 	 	 	 	 	
Income before net interest expense and income taxes	  	 	256.9	 	 	 	(34.9	)	 	 	222.0	 	
Net interest expense	  	 	5.2	 	 	 	 	 	 	 	5.2	 	
 	  	 	 	 	 	 	 	 	 	 	 	 	
Income before income taxes	  	 	251.7	 	 	 	(34.9	)	 	 	216.8	 	
Provision for income taxes	  	 	80.1	 	 	 	(9.2	)(a)	 	 	70.9	 	
 	  	 	 	 	 	 	 	 	 	 	 	 	
Income from continuing operations	  	$	171.6	 	 	$	(25.7	)	 	$	145.9	 	
 	  	 	 	 	 	 	 	 	 	 	 	 	
Basic earnings per share:	  	 	 	 	 	 	 	 	 	 	 	 	
Income from continuing operations	  	$	2.50	 	 	 	 	 	 	$	2.12	 	
Diluted earnings per share:	  	 	 	 	 	 	 	 	 	 	 	 	
Income from continuing operations	  	$	2.44	 	 	 	 	 	 	$	2.07	 	
Weighted average shares outstanding:	  	 	 	 	 	 	 	 	 	 	 	 	
Basic	  	 	68.7	 	 	 	 	 	 	 	68.7	 	
Diluted	  	 	70.4	 	 	 	 	 	 	 	70.4	 	
See accompanying notes to unaudited pro forma condensed consolidated financial statements.

FMC TECHNOLOGIES, INC. AND CONSOLIDATED SUBSIDIARIES
UNAUDITED PRO FORMA CONDENSED CONSOLIDATED STATEMENT OF INCOME
(In millions, except per share amounts)

 	  	For the year ended December 31, 2005	 	
 	  	Historical	 	 	Adjustments	 	 	Pro Forma	 	
Revenue	  	$	3,226.7	 	 	$	(79.8	)(a)	 	$	3,146.9	 	
Costs and expenses:	  	 	 	 	 	 	 	 	 	 	 	 	
Cost of sales	  	 	2,673.5	 	 	 	(123.3	)(a)	 	 	2,550.2	 	
Selling, general and administrative expense	  	 	369.7	 	 	 	(7.5	)(a)	 	 	362.2	 	
Research and development expense	  	 	51.5	 	 	 	(3.2	)(a)	 	 	48.3	 	
 	  	 	 	 	 	 	 	 	 	 	 	 	
Total costs and expenses	  	 	3,094.7	 	 	 	(134.0	)	 	 	2,960.7	 	
Net gain on disposal of assets	  	 	38.3	 	 	 	(8.6	)(a)	 	 	29.7	 	
Minority interests	  	 	(2.5	)	 	 	(1.0	)(a)	 	 	(3.5	)	
 	  	 	 	 	 	 	 	 	 	 	 	 	
Income before net interest expense and income taxes	  	 	167.8	 	 	 	44.6	 	 	 	212.4	 	
Net interest expense	  	 	5.5	 	 	 	 	 	 	 	5.5	 	
 	  	 	 	 	 	 	 	 	 	 	 	 	
Income before income taxes	  	 	162.3	 	 	 	44.6	 	 	 	206.9	 	
Provision for income taxes	  	 	56.2	 	 	 	21.0	(a)	 	 	77.2	 	
 	  	 	 	 	 	 	 	 	 	 	 	 	
Income from continuing operations	  	$	106.1	 	 	$	23.6	 	 	$	129.7	 	
 	  	 	 	 	 	 	 	 	 	 	 	 	
Basic earnings per share:	  	 	 	 	 	 	 	 	 	 	 	 	
Income from continuing operations	  	$	1.54	 	 	 	 	 	 	$	1.88	 	
Diluted earnings per share:	  	 	 	 	 	 	 	 	 	 	 	 	
Income from continuing operations	  	$	1.50	 	 	 	 	 	 	$	1.83	 	
 	 	 	 	
Weighted average shares outstanding:	  	 	 	 	 	 	 	 	 	 	 	 	
Basic	  	 	69.0	 	 	 	 	 	 	 	69.0	 	
Diluted	  	 	70.8	 	 	 	 	 	 	 	70.8	 	
See accompanying notes to unaudited pro forma condensed consolidated financial statements.

FMC TECHNOLOGIES, INC. AND CONSOLIDATED SUBSIDIARIES
UNAUDITED PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET
AS OF SEPTEMBER 30, 2006
(In millions)

 	  	Historical	 	 	Adjustments	 	 	Pro Forma	 	
Assets:	  	 	 	 	 	 	 	 	 	 	 	 	
Current assets:	  	 	 	 	 	 	 	 	 	 	 	 	
Cash and cash equivalents	  	$	58.7	 	 	$	41.1	(c)	 	$	99.8	 	
Trade receivables, net	  	 	837.1	 	 	 	(21.0	)(b)	 	 	816.1	 	
Inventories	  	 	602.0	 	 	 	(0.4	)(b)	 	 	601.6	 	
Other current assets	  	 	112.0	 	 	 	(0.9	)(b)	 	 	111.1	 	
 	  	 	 	 	 	 	 	 	 	 	 	 	
Total current assets	  	 	1,609.8	 	 	 	18.8	 	 	 	1,628.6	 	
Property, plant and equipment, net	  	 	416.0	 	 	 	(0.6	)(b)	 	 	415.4	 	
Goodwill and intangible assets	  	 	186.8	 	 	 	(2.3	)(b)	 	 	184.5	 	
Deferred income taxes	  	 	72.9	 	 	 	 	 	 	 	72.9	 	
Other assets	  	 	62.3	 	 	 	(0.1	)(b)	 	 	62.2	 	
 	  	 	 	 	 	 	 	 	 	 	 	 	
Total assets	  	$	2,347.8	 	 	$	15.8	 	 	$	2,363.6	 	
 	  	 	 	 	 	 	 	 	 	 	 	 	
Liabilities and stockholders’ equity:	  	 	 	 	 	 	 	 	 	 	 	 	
Current liabilities:	  	 	 	 	 	 	 	 	 	 	 	 	
Short-term debt and current portion of long-term debt	  	$	5.1	 	 	 	 	 	 	$	5.1	 	
Accounts payable, trade and other	  	 	376.8	 	 	$	(11.5	)(b)	 	 	365.3	 	
Advance payments and progress billings	  	 	410.9	 	 	 	(2.9	)(b)	 	 	408.0	 	
Other current liabilities	  	 	378.9	 	 	 	(24.0	)(b)	 	 	354.9	 	
Deferred income taxes	  	 	16.5	 	 	 	 	 	 	 	16.5	 	
 	  	 	 	 	 	 	 	 	 	 	 	 	
Total current liabilities	  	 	1,188.2	 	 	 	(38.4	)	 	 	1,149.8	 	
Long-term debt, less current portion	  	 	217.7	 	 	 	 	 	 	 	217.7	 	
Other liabilities	  	 	87.0	 	 	 	 	 	 	 	87.0	 	
Stockholders’ equity:	  	 	 	 	 	 	 	 	 	 	 	 	
Common stock	  	 	0.7	 	 	 	 	 	 	 	0.7	 	
Common stock held in treasury	  	 	(147.8	)	 	 	 	 	 	 	(147.8	)	
Capital in excess of par value of common stock	  	 	719.2	 	 	 	 	 	 	 	719.2	 	
Retained earnings	  	 	366.7	 	 	 	54.2	(d)	 	 	420.9	 	
Accumulated other comprehensive loss	  	 	(83.9	)	 	 	 	 	 	 	(83.9	)	
 	  	 	 	 	 	 	 	 	 	 	 	 	
Total stockholders’ equity	  	 	854.9	 	 	 	54.2	 	 	 	909.1	 	
 	  	 	 	 	 	 	 	 	 	 	 	 	
Total liabilities and stockholders’ equity	  	$	2,347.8	 	 	$	15.8	 	 	$	2,363.6	 	
 	  	 	 	 	 	 	 	 	 	 	 	 	
See accompanying notes to unaudited pro forma condensed consolidated financial statements.

FMC TECHNOLOGIES, INC. AND CONSOLIDATED SUBSIDIARIES
NOTES TO THE UNAUDITED PRO FORMA CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
 
(a)	Represents the elimination of the financial results of the Floating Systems business, which are included in the historical financial results of FMC Technologies, Inc., net of general corporate expenses that will remain with the continuing entity.	
 
(b)	Represents the elimination of the net assets of the Floating Systems business, which are included in the historical financial results of FMC Technologies, Inc., net of certain assets and liabilities that will be retained by the continuing entity.	
 
(c)	Reflects the net cash proceeds received in exchange for the Floating Systems business. The cash proceeds from the sale of $54.4 million are reduced in the adjustment by $13.3 million of cash required to fund negative working capital for ongoing projects as required in the purchase agreement with MODEC, Inc.	
 
(d)	Reflects the gain that would have been recognized had the disposition taken place on September 30, 2006 based on proceeds of $54.4 million and net assets of $0.2 million.