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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-K

(Mark One)

For the fiscal year ended December 31, 2003

OR

For the transition period from                      to                     

Commission file number 1-2376

FMC TECHNOLOGIES, INC.

(Exact name of registrant as specified in its charter)

Securities registered pursuant to Section 12(b) of the Act:

Securities registered pursuant to Section 12(g) of the Act: None

INDICATE BY CHECK MARK WHETHER THE REGISTRANT (1) HAS FILED ALL REPORTS REQUIRED TO BE FILED BY SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 DURING THE PRECEDING 12 MONTHS (OR FOR SUCH SHORTER PERIOD THAT THE REGISTRANT WAS REQUIRED TO FILE SUCH REPORTS), AND (2) HAS BEEN SUBJECT TO SUCH FILING REQUIREMENTS FOR THE PAST 90 DAYS. YES x NO ¨

INDICATE BY CHECK MARK IF DISCLOSURE OF DELINQUENT FILERS PURSUANT TO ITEM 405 OF REGULATION S-K IS NOT CONTAINED HEREIN, AND WILL NOT BE CONTAINED, TO THE BEST OF REGISTRANT’S KNOWLEDGE, IN DEFINITIVE PROXY OR INFORMATION STATEMENTS INCORPORATED BY REFERENCE IN PART III OF THIS FORM 10-K OR ANY AMENDMENT TO THIS FORM 10-K. ¨

INDICATE BY CHECK MARK WHETHER THE REGISTRANT IS AN ACCELERATED FILER (AS DEFINED IN RULE 12b-2 OF THE ACT). YES x NO ¨

THE AGGREGATE MARKET VALUE OF THE REGISTRANT’S COMMON STOCK HELD BY NON-AFFILIATES OF THE REGISTRANT, DETERMINED BY MULTIPLYING THE OUTSTANDING SHARES ON JUNE 30, 2003, BY THE CLOSING PRICE ON SUCH DAY OF $21.05 AS REPORTED ON THE NEW YORK STOCK EXCHANGE, WAS $1,273,646,000.*

THE NUMBER OF SHARES OF THE REGISTRANT’S COMMON STOCK, $0.01 PAR VALUE, OUTSTANDING AS OF FEBRUARY 27, 2004 WAS 66,905,385.

DOCUMENTS INCORPORATED BY REFERENCE

PART I

FMC Technologies, Inc. (the “Company”) was incorporated in 2000 under Delaware law and has its principal executive offices at 1803 Gears Road, Houston, Texas 77067. As used in this report, except where otherwise stated or indicated by the context, the “Company” means the Company and its consolidated subsidiaries.

General Development of Business

Information required by this item is incorporated herein by reference from Note 1 and Note 4 to the Company’s consolidated financial statements on pages 58, and 62 through 64, respectively, of the 2003 Annual Report to Stockholders.

Financial Information About Segments

Information required by this item is incorporated herein by reference from Note 21 to the Company’s consolidated financial statements on pages 85 through 88 of the 2003 Annual Report to Stockholders.

Narrative Description of Business

The Company is a global leader providing mission-critical solutions, based on innovative, industry-leading technologies, for the energy, food processing, and air transportation industries. The Company designs, manufactures and services sophisticated machinery and systems for its customers through its Energy Systems (comprising Energy Production Systems and Energy Processing Systems), FoodTech and Airport Systems business segments.

Information required by this item is incorporated herein by reference from pages 10 through 29 of the 2003 Annual Report to Stockholders.

Principal Products

Information required by this item is incorporated herein by reference from the section entitled “Strategic Outlook” on pages 28 and 29 of the 2003 Annual Report to Stockholders and from Note 21 to the Company’s consolidated financial statements on page 86 of the 2003 Annual Report to Stockholders.

Sources and Availability of Raw Materials

The Company purchases carbon steel, stainless steel, aluminum and steel castings and forgings both domestically and internationally.

The Company does not use single source suppliers for the majority of its raw material purchases and believes the available supplies of raw materials are adequate. Moreover, raw materials essential to the Company’s businesses are generally readily available.

Patents, Trademarks and Licenses

The Company owns a number of U.S. and foreign patents, trademarks and licenses that are cumulatively important to its businesses. The Company has approximately 2,000 issued patents and pending patent applications worldwide. Further, the Company licenses certain intellectual property rights to or from third parties. The Company also owns numerous U.S. and foreign trademarks and trade names and has approximately 800 registrations and pending applications in the United States and abroad. The Company does not believe that the loss of any one or group of related patents, trademarks or licenses would have a material adverse effect on the overall business of the Company.

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Seasonality

Airport Systems’ sales of deicers are usually greater in the fourth quarter of each year, as customers prepare for severe winter weather. In addition, due to the seasonal nature of fruit and vegetable production, sales of certain FoodTech products are typically greater in the second and fourth quarters of each year.

Energy Processing Systems’ sales are typically higher in the second half of the fiscal year, primarily attributable to increased seasonal demand for loading systems and measurement solutions.

Order Backlog

Information required by this item is incorporated herein by reference from the section entitled “Inbound Orders and Order Backlog” on page 41 of the 2003 Annual Report to Stockholders.

Competitive Conditions

The Company markets its products primarily through its own technically-oriented sales organization and, in some cases, through independent distributors and sales representatives. The Company conducts business worldwide in more than 100 countries. Energy Production Systems competes with other companies that supply subsea systems and floating production products and with smaller companies that are focused on a specific application, technology or geographical area in the Company’s other product areas. Energy Processing Systems competes with a number of companies in the measurement and transportation industry, some of whom have access to greater resources. FoodTech and Airport Systems compete with a variety of local and regional companies typically focused on a specific application, technology or geographic area, and with a few large multinational companies.

The Company competes by leveraging its industry experience to provide advanced technology, integrated systems, high product quality and reliability and quality aftermarket service. The Energy Systems businesses differentiate themselves by the depth of their industry experience, engineering and design capabilities, product performance, integrated systems, global manufacturing capability, quality, reliability, service and price. FoodTech and Airport Systems differentiate themselves on many of the same bases as the Energy Systems businesses – the depth of their industry experience, engineering and design capabilities, product performance, integrated systems, quality, reliability, service and price and, in the food processing industry in particular, on the basis of yield and hygiene.

Research and Development

Information required by this item is incorporated herein by reference from Note 21 to the Company’s consolidated financial statements on page 88 of the 2003 Annual Report to Stockholders.

Employees

As of December 31, 2003, the Company had approximately 8,600 full-time employees. Approximately 4,100 were located in the United States, and approximately 4,500 were located in other countries. The Company believes that its relations with its employees are good.

Financial Information about Geographic Areas

Information required by this item is incorporated herein by reference from Note 21 to the Company’s consolidated financial statements on page 88 of the 2003 Annual Report to Stockholders.

Available Information

This Form 10-K, the Company’s Quarterly Reports on Form 10-Q and Current Reports on Form 8-K and amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended, are available free of charge through the Company’s website at www.fmctechnologies.com, as soon as reasonably practicable after the Company electronically files such material with, or furnishes it to, the Securities and Exchange Commission.

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The Company owns executive offices in Houston, Texas and leases executive offices in Chicago, Illinois. The Company operates 32 manufacturing facilities in 16 countries.

The Company believes its properties and facilities meet present requirements and are in good operating condition and that each of its significant manufacturing facilities is operating at a level consistent with the requirements of the industry in which it operates.

The significant production properties for the Energy Production Systems operations currently are:

* These facilities are production properties for both Energy Production Systems and Energy Processing Systems.

The significant production properties for the Energy Processing Systems operations currently are:

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The significant production properties for the FoodTech operations currently are:

The significant production properties for the Airport Systems operations currently are:

The Company and FMC Corporation are named defendants in a number of multi-defendant, multi-plaintiff tort lawsuits. Under the Separation and Distribution Agreement between FMC Corporation and FMC Technologies, which contains key provision relating to the 2001 spin-off of the Company from FMC Corporation, FMC Corporation is required to indemnify the Company for certain claims made prior to the spin-off, as well as for other claims related to discontinued operations. The Company expects that FMC Corporation will bear responsibility for the majority of these claims. Certain claims have been asserted subsequent to the spin-off; and while the ultimate responsibility for these claims cannot yet be determined due to lack of identification of the products or premises involved, the Company also expects that FMC Corporation will bear responsibility for a majority of these claims.

In February 2003, the Company initiated court action in the Judicial District Court in Harris County, Texas, against ABB Lummus Global, Inc., seeking recovery of scheduled payments owed and compensatory, punitive and other damages. A trial is currently scheduled to begin in October 2004.

In August 2002, the Company initiated court action in the United Kingdom to confirm that certain components of its subsea production systems’ designs do not conflict with a patent issued to Cooper Cameron Corporation in Europe. In response, Cooper Cameron Corporation initiated court action alleging infringement of certain of its U.K. patents. In March 2004, the Company and Cooper Cameron Corporation resolved all claims and disputes related to this litigation. The terms of the settlement include a cross-license of patents between the Company and Cooper Cameron Corporation.

While the results of litigation cannot be predicted with certainty, management believes that the most probable, ultimate resolution of these matters will not have a material adverse effect on the Company’s consolidated financial position or results of operations.

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No matters were submitted to a vote of security holders during the fourth quarter of fiscal year 2003.

Executive Officers of the Registrant

The executive officers of the Company, together with the offices in the Company currently held by them, their business experience and their ages as of February 27, 2004, are as follows:

No family relationships exist among any of the above-listed officers, and there are no arrangements or understandings between any of the above-listed officers and any other person pursuant to which they serve as an officer. All officers are elected to hold office until their successors are elected and qualified. The Company was formerly a wholly owned subsidiary of FMC Corporation.

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PART II

FMC Technologies, Inc. is listed on the New York Stock Exchange under the symbol FTI. High and low sales prices for the Company’s common stock are incorporated herein by reference from Note 22 to the Company’s consolidated financial statements on page 89 of the 2003 Annual Report to Stockholders.

As of February 27, 2004, there were 5,722 holders of record of the Company’s common stock.

The Company did not pay dividends on its common stock in 2003 and does not expect to pay dividends on its common stock in 2004.

Information regarding the Company’s equity compensation plans is incorporated herein by reference from the section entitled “Equity Compensation Plan Information” appearing on page 27 of the Proxy Statement for the 2004 Annual Meeting of Stockholders.

Information required by this item is incorporated herein by reference from the section entitled “Selected Historical Financial Data” on pages 92 and 93 of the 2003 Annual Report to Stockholders.

Information required by this item is incorporated herein by reference from the section entitled “Management’s Discussion and Analysis of Financial Condition and Results of Operations” on pages 33 through 50 of the 2003 Annual Report to Stockholders.

Information required by this item is incorporated herein by reference from the section entitled “Derivative Financial Instruments and Market Risk” on page 47 of the 2003 Annual Report to Stockholders.

Information required by this item is incorporated herein by reference from the Company’s consolidated financial statements included under the headings “Consolidated Statements of Income,” “Consolidated Balance Sheets,” “Consolidated Statements of Cash Flows,” “Consolidated Statements of Changes in Stockholders’ Equity,” “Notes to Consolidated Financial Statements,” “Independent Auditors’ Report” and “Management’s Report on Financial Statements” on pages 51 through 91 of the 2003 Annual Report to Stockholders.

None.

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Evaluation of Disclosure Controls and Procedures

The Company’s principal executive officer and its principal financial officer, after management’s evaluation, with the participation of such officers, of the effectiveness of the Company’s disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) as of the end of the period covered by this report, have concluded that, based on such evaluation and to their knowledge, the Company’s disclosure controls and procedures were effective.

Changes in Internal Controls

There was no change in the Company’s internal controls over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Company’s internal controls over financial reporting.

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PART III

Information regarding the Company’s directors is incorporated herein by reference from the section entitled “Board of Directors” appearing on pages 4 through 7 of the Proxy Statement for the 2004 Annual Meeting of Stockholders. For 2004, the Company’s Board of Directors has expanded and reorganized its committees into three standing committees: an Audit Committee, a Compensation Committee and a Nominating and Governance Committee. Each of these committees operates pursuant to a written charter setting out the functions and responsibilities of the committee. The charters for the Audit Committee, the Compensation Committee and the Nominating and Governance Committee of the Board of Directors of the Company may be found on the Company’s website at www.fmctechnologies.com and are available in print to any stockholder upon request without charge by submitting a written request to Jeffrey W. Carr, General Counsel and Secretary, FMC Technologies, 1803 Gears Road, Houston, Texas 77067. Information concerning audit committee financial experts on the Audit Committee of the Board of Directors of the Company is incorporated herein by reference from the section entitled “Committees of the Board of Directors – Audit Committee” appearing on page 9 of the Proxy Statement for the 2004 Annual Meeting of Stockholders.

For information regarding the Company’s executive officers, see “Executive Officers of the Registrant” in Part I of this Form 10-K.

Information regarding compliance by the Company’s directors and executive officers with Section 16(a) of the Securities and Exchange Act of 1934, as amended, is incorporated herein by reference from the section entitled “Section 16(a) Beneficial Ownership Reporting Compliance” appearing on page 27 of the Proxy Statement for the 2004 Annual Meeting of Stockholders.

The Company has adopted a code of ethics, which includes provisions that are specifically targeted at the Company’s principal executive officer, principal financial officer, principal accounting officer or controller and other key professionals serving in a finance, accounting, treasury, tax or investor relations role. A copy of the Company’s code of ethics may be found on the Company’s website at www.fmctechnologies.com and is available in print to stockholders without charge by submitting a request to the address set forth above.

Information required by this item is incorporated herein by reference from the sections entitled “Director Compensation,” “Compensation Committee Interlocks and Insider Participation in Compensation Decisions” and “Executive Compensation” appearing on pages 12, 13 and 18 through 26, respectively, of the Proxy Statement for the 2004 Annual Meeting of Stockholders.

Information required by this item is incorporated herein by reference from the sections entitled “Security Ownership of FMC Technologies” and “Equity Compensation Plan Information” appearing on pages 16 and 17 and page 27, respectively, of the Proxy Statement for the 2004 Annual Meeting of Stockholders.

Information required by this item is incorporated herein by reference from the section entitled “Certain Relationships and Related Party Transactions” appearing on pages 14 and 15 of the Proxy Statement for the 2004 Annual Meeting of Stockholders.

Information required by this item is incorporated herein by reference from the section entitled “Relationship with Independent Public Accountants” appearing on page 29 of the Proxy Statement for the 2004 Annual Meeting of Stockholders.

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PART IV

Consolidated Statements of Income for the Years Ended December 31, 2003, 2002 and 2001

Consolidated Balance Sheets as of December 31, 2003 and 2002

Consolidated Statements of Cash Flows for the Years Ended December 31, 2003, 2002 and 2001

Consolidated Statements of Changes in Stockholders’ Equity for the Years Ended December 31, 2003, 2002 and 2001

See “Schedule II—Valuation and Qualifying Accounts” and the related Independent Auditors’ Report included herein. All other schedules are omitted because of the absence of conditions under which they are required or because information called for is shown in the consolidated financial statements and notes thereto in the 2003 Annual Report to Stockholders.

See Index of Exhibits beginning on page 14 of this document.

Current Report on Form 8-K dated October 27, 2003, furnishing a press release announcing the Company’s financial results for the fiscal quarter ended September 30, 2003.

See Index of Exhibits beginning on page 14 of this document.

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INDEPENDENT AUDITORS’ REPORT

The Board of Directors and Stockholders of FMC Technologies, Inc.:

Under date of January 28, 2004, we reported on the consolidated balance sheets of FMC Technologies, Inc. and consolidated subsidiaries as of December 31, 2003 and 2002, and the related consolidated statements of income, cash flows and changes in stockholders’ equity for each of the years in the three-year period ended December 31, 2003, as contained in the 2003 annual report to stockholders. These consolidated financial statements and our report thereon are incorporated by reference in the annual report on Form 10-K for the year 2003. In connection with our audits of the aforementioned consolidated financial statements, we also audited the related financial statement schedule as listed in the accompanying index. This financial statement schedule is the responsibility of the Company’s management. Our responsibility is to express an opinion on this financial statement schedule based on our audits.

In our opinion, such financial statement schedule, when considered in relation to the basic consolidated financial statements taken as a whole, presents fairly, in all material respects, the information set forth therein.

As described in Note 2 to the consolidated financial statements, the Company adopted Statement of Financial Accounting Standards No. 142, “Goodwill and Other Intangible Assets,” as of January 1, 2002.

/s/ KPMG LLP

Chicago, Illinois

January 28, 2004

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Schedule II—Valuation and Qualifying Accounts

(a) – “Additions charged to other accounts” includes recoveries. “Deductions and other” includes writeoffs and translation adjustments.

(b) – “Deductions and other” reflects tax benefits realized and translation adjustments of ($726), ($5,320) and $1,686, in 2001, 2002 and 2003, respectively.

(c) – “Additions charged to other accounts” includes reserves acquired through business combinations, recoveries and translation adjustments. “Deductions and other” includes writeoffs.

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SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) 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.

Date: March 12, 2004

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the date indicated.

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INDEX OF EXHIBITS FILED WITH OR

INCORPORATED BY REFERENCE INTO

FORM 10-K OF FMC TECHNOLOGIES, INC.

FOR THE YEAR ENDED DECEMBER 31, 2003

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