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Other Current Liabilities | 3 Months Ended
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Mar. 31, 2017
Other Liabilities, Current [Abstract] |
Other Current Liabilities | OTHER CURRENT LIABILITIES Other current liabilities consisted of the following:
(In millions) | March 31, 2017 |  | December 31, 2016
Accruals on completed contracts | $ | 304.8 |  |  | $ | 271.9 |
Deferred income on contracts | 364.6 |  |  | 407.6 |
Contingencies related to contracts | 390.9 |  |  | 370.1 |
Other taxes payable | 236.2 |  |  | 143.5 |
Redeemable financial liability | 88.2 |  |  | 33.7 |
Other | 805.6 |  |  | 598.5 |
Total other current liabilities | $ | 2,190.3 |  |  | $ | 1,825.3 |
OTHER LIABILITIES During the three months ended December 31, 2016, we obtained voting control interests in legal onshore/offshore contract entities which own and account for the design, engineering and construction of the Yamal LNG plant. Prior to the amendments of the contractual terms that provided us with voting interest control, we accounted for these entities under the equity method of accounting based on our previously held interests in each of these entities. Since nearly all substantive processes to perform and execute the obligations of the underlying contract are conducted by TechnipFMC and the noncontrolling interest holders, we accounted for these entities as an asset acquisition upon our obtaining control and recognized a net gain of $72.6 million during 2016. As of December 31, 2016, total assets, liabilities and equity related to these entities were consolidated onto our balance sheet and our results of operations for the three months ended March 31, 2017 reflect the consolidated results of operations related to these entities. In addition to the recognition of an intangible asset related to the acquired asset in the underlying entities, a mandatorily redeemable financial liability of $176.0 million was recognized as of December 31, 2016 to account for the fair value of the non-controlling interests, for which $33.7 million was recorded as other current liabilities. Refer to Note 9 for further information regarding our other current liabilities. Changes in the fair value of the financial liability are recorded as interest expense on the condensed consolidated statements of income. Refer to Note 18 for further information regarding the fair value measurement assumptions of the mandatorily redeemable financial liability and related changes in its fair value.

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- Definition The entire disclosure for other liabilities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.20,24) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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