Flowserve (FLS) 10-Q30 Apr 152015 Q1 Quarterly reportFinancial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
Document and Entity Information	Mar. 31, 2015	Apr. 23, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	FLOWSERVE CORP
Entity Central Index Key	30625
Document Type	10-Q
Document Period End Date	31-Mar-15
Amendment Flag	FALSE
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	-19
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		134,450,872

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Income (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Income Statement [Abstract]
Sales	$1,014,620	$1,068,136
Cost of sales	-682,890	-691,014
Gross profit	331,730	377,122
Selling, general and administrative expense	-239,927	-216,227
Net earnings from affiliates	1,573	3,431
Operating income	93,376	164,326
Interest expense	-16,037	-15,149
Interest income	758	331
Other expense, net	-19,946	-2,905
Earnings before income taxes	58,151	146,603
Provision for income taxes	-28,506	-38,015
Net earnings, including noncontrolling interests	29,645	108,588
Less: Net earnings attributable to noncontrolling interests	-1,979	-854
Net earnings attributable to Flowserve Corporation	$27,666	$107,734
Net earnings per share attributable to Flowserve Corporation common shareholders:
Basic (in dollars per share)	$0.21	$0.78
Diluted (in dollars per share)	$0.20	$0.78
Cash dividends declared per share (in dollars per share)	$0.18	$0.16

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Comprehensive Income (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015		Mar. 31, 2014
Statement of Comprehensive Income [Abstract]
Net earnings, including noncontrolling interests	$29,645		$108,588
Other comprehensive income:
Foreign currency translation adjustments, net of taxes of $63,561 and $(1,786), respectively	-106,434		2,951
Pension and other postretirement effects, net of taxes of $1,692 and $(938), respectively	7,891		2,779
Cash flow hedging activity, net of taxes of $2,027 and $(71), respectively	-5,146		168
Other comprehensive income	-103,689	[1]	5,898	[1]
Comprehensive income, including noncontrolling interests	-74,044		114,486
Comprehensive income attributable to noncontrolling interests	-1,997		-1,030
Comprehensive income attributable to Flowserve Corporation	($76,041)		$113,456

[1]	Includes foreign currency translation adjustments attributable to noncontrolling interests of $1.3 million and $1.2 million at January 1, 2015 and 2014 and $1.3 million and $1.4 million at MarchÂ 31, 2015 and 2014. Includes accumulated net investment hedge losses of $2.1 million, net of deferred taxes, at March 31, 2015. Amounts in parentheses indicate debits.

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Statement of Comprehensive Income [Abstract]
Foreign currency translation, taxes	$63,561	($1,786)
Pension and other postretirement effects, taxes	1,692	-938
Cash flow hedging activity, taxes	$2,027	($71)

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$333,776	$450,350
Accounts receivable, net of allowance for doubtful accounts of $27,125 and $25,469, respectively	1,015,544	1,082,447
Inventories, net	1,118,940	995,564
Deferred taxes	158,803	158,912
Prepaid expenses and other	133,275	106,890
Total current assets	2,760,338	2,794,163
Property, plant and equipment, net of accumulated depreciation of $813,562 and $836,981, respectively	752,015	693,881
Goodwill	1,214,919	1,067,255
Deferred taxes	27,840	31,419
Other intangible assets, net	247,550	146,337
Other assets, net	249,019	234,965
Total assets	5,251,681	4,968,020
Current liabilities:
Accounts payable	484,542	611,715
Accrued liabilities	783,758	794,072
Debt due within one year	58,739	53,131
Deferred taxes	13,727	12,957
Total current liabilities	1,340,766	1,471,875
Long-term debt due after one year	1,620,782	1,101,791
Retirement obligations and other liabilities	525,991	452,511
Shareholdersâ€™ equity:
Common shares, $1.25 par value, Shares authorized - 305,000, Share issued - 176,793 and 176,793, respectively	220,991	220,991
Capital in excess of par value	471,516	495,600
Retained earnings	3,418,920	3,415,738
Treasury shares, at cost â€“ 43,136 and 42,444 shares, respectively	-1,885,594	-1,830,919
Deferred compensation obligation	10,145	10,558
Accumulated other comprehensive loss	-484,114	-380,406
Total Flowserve Corporation shareholdersâ€™ equity	1,751,864	1,931,562
Noncontrolling interests	12,278	10,281
Total equity	1,764,142	1,941,843
Total liabilities and equity	$5,251,681	$4,968,020

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Current assets:
Allowance for doubtful accounts	$27,125	$25,469
Accumulated depreciation on property, plant and equipment	$813,562	$836,981
Shareholdersâ€™ equity:
Common shares, par value (in dollars per share)	$1.25	$1.25
Common shares, shares authorized	305,000,000	305,000,000
Common shares, shares issued	176,793,000	176,793,000
Treasury shares, shares	43,136,000	42,444,000

Condensed_Consolidated_Stateme3

Condensed Consolidated Statements of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Cash flows â€“ Operating activities:
Net earnings, including noncontrolling interests	$29,645	$108,588
Adjustments to reconcile net earnings to net cash used by operating activities:
Depreciation	24,600	23,058
Amortization of intangible and other assets	9,244	4,305
Gain on sale of business	0	-13,403
Excess tax benefits from stock-based payment arrangements	-5,800	-8,353
Stock-based compensation	9,095	9,916
Foreign currency and other non-cash adjustments	28,539	7,541
Change in assets and liabilities, net of acquisitions
Accounts receivable, net	59,396	77,264
Inventories, net	-117,848	-76,990
Prepaid expenses and other	-22,781	-6,897
Other assets, net	-2,330	4,025
Accounts payable	-131,208	-132,503
Accrued liabilities and income taxes payable	2,698	-77,552
Retirement obligations and other	14,432	-4,437
Net deferred taxes	9,117	773
Net cash flows used by operating activities	-93,201	-84,665
Cash flows â€“ Investing activities:
Capital expenditures	-83,967	-31,663
Payments for acquisition, net of cash acquired	-341,545	0
Proceeds from disposal of assets	1,649	301
Proceeds from sale of business, net of cash divested	0	46,805
Net cash flows (used) provided by investing activities	-423,863	15,443
Cash flows â€“ Financing activities:
Excess tax benefits from stock-based payment arrangements	5,800	8,353
Payments on long-term debt	-10,000	-10,000
Proceeds from issuance of senior notes	523,418	0
Payments of deferred loan cost	-1,005	0
Payments under other financing arrangements	7,190	3,288
Payments under other financing arrangements	-5,207	-1,479
Repurchases of common shares	-79,899	-109,605
Payments of dividends	-21,686	-19,387
Other	264	-385
Net cash flows provided (used) by financing activities	418,875	-129,215
Effect of exchange rate changes on cash	-18,385	-951
Net change in cash and cash equivalents	-116,574	-199,388
Cash and cash equivalents at beginning of period	450,350	363,804
Cash and cash equivalents at end of period	$333,776	$164,416

Basis_of_Presentation_and_Acco

Basis of Presentation and Accounting Policies	3 Months Ended
Basis of Presentation and Accounting Policies	Mar. 31, 2015
Accounting Policies [Abstract]
Basis of Presentation and Accounting Policies	Basis of Presentation and Accounting Policies
	Basis of Presentation
	The accompanying condensed consolidated balance sheet as of March 31, 2015, the related condensed consolidated statements of income and comprehensive income for the three months ended March 31, 2015 and 2014, and the condensed consolidated statements of cash flows for the three months ended March 31, 2015 and 2014, of Flowserve Corporation are unaudited. In management’s opinion, all adjustments comprising normal recurring adjustments necessary for fair statement of such condensed consolidated financial statements have been made.
	The accompanying condensed consolidated financial statements and notes in this Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2015 ("Quarterly Report") are presented as permitted by Regulation S-X and do not contain certain information included in our annual financial statements and notes thereto. Accordingly, the accompanying condensed consolidated financial information should be read in conjunction with the consolidated financial statements presented in our audited Annual Report on Form 10-K for the year ended December 31, 2014 ("2014 Annual Report").
	Venezuela – Our operations in Venezuela generally consist of a service center that performs service and repair activities. Our Venezuelan subsidiary's sales for the three months ended March 31, 2015 represented less than 1% of consolidated sales and its assets at March 31, 2015 represented less than 0.5% of total consolidated assets. Assets primarily consisted of United States ("U.S.") dollar-denominated monetary assets and bolivar-denominated non-monetary assets at March 31, 2015. In addition, certain of our operations in other countries sell equipment and parts that are typically denominated in U.S. dollars directly to Venezuelan customers.
	We have experienced delays in collecting payment on our accounts receivable from the national oil company in Venezuela, our primary Venezuelan customer. These accounts receivable are primarily U.S. dollar-denominated and are not disputed, and we have not historically had write-offs relating to this customer. Our total outstanding accounts receivable with this customer were approximately 9% of our gross accounts receivable at March 31, 2015. Given the experienced delays in collecting payments we estimate that approximately 50% of the outstanding accounts receivable will most likely not be collected within one year and therefore has been classified as long-term within other assets, net on our March 31, 2015 condensed consolidated balance sheet.
	In the first quarter of 2014, the Venezuelan government expanded the use of periodic auctions for U.S. dollars conducted under the Complementary System of Foreign Currency Administration ("SICAD I"). At March 31, 2015 the SICAD I exchange rate was 12.0 bolivars to the U.S. dollar, compared with the official exchange rate of 6.3 bolivars to the U.S. dollar ("Official"). In addition, during the second quarter of 2014 the Venezuelan government created a third currency exchange mechanism ("SICAD II"). In February 2015, the Venezuelan government created a new currency exchange mechanism, SIMADI, which replaced the SICAD II mechanism. At March 31, 2015, the SIMADI exchange rate was 192 bolivars to the U.S. dollar.
	As of March 31, 2015, we have determined, based on our specific facts and circumstances, that the SIMADI exchange rate was the most appropriate for the remeasurement of our Venezuelan subsidiary's bolivar-denominated net monetary assets in U.S. dollars. As a result of the remeasurement we recognized a loss of $20.6 million during the three months ended March 31, 2015, of which $18.5 million was reported in other expense, net and $2.1 million in cost of goods sold in our condensed consolidated statement of income and resulted in no tax benefit.
	We are continuing to assess and monitor the ongoing impact of the changes in the Venezuelan foreign exchange market on our Venezuelan operations and imports into the market, including our Venezuelan subsidiary's ability to remit cash for dividends and other payments at the SIMADI exchange rate, as well as additional government actions, political and labor unrest, or other economic conditions that may adversely impact our future consolidated financial condition or results of operations.
	Accounting Policies
	Significant accounting policies, for which no significant changes have occurred in the three months ended March 31, 2015, are detailed in Note 1 to our consolidated financial statements included in our 2014 Annual Report.
	Accounting Developments
	Pronouncements Implemented
	In June 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2014-11 "Transfers and Servicing (Topic 860): Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures." This ASU changes the accounting for repurchase-to-maturity transactions and linked repurchase financings so that such transactions will now be accounted for as secured borrowings. This accounting change is effective for the first interim or annual period beginning after December 15, 2014 and early adoption is not permitted. There are also new disclosure requirements in this ASU. Our adoption of ASU No. 2014-11 did not have an impact on our consolidated financial condition and results of operations.
	*Pronouncements Not Yet Implemented*
	In May 2014, the FASB issued ASU No. 2014-09, "Revenue from Contracts with Customers (Topic 606)" which supersedes the revenue recognition requirements in "Revenue Recognition (Topic 605)." The standard is principle-based and provides a five-step model to determine when and how revenue is recognized. The core principle is that a company should recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. There are also expanded disclosure requirements in this ASU. For public entities ASU 2014-09 is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period and allows for either full retrospective adoption or modified retrospective adoption. We are currently evaluating the impact of ASU No. 2014-09 on our consolidated financial condition and results of operations.
	In June 2014, the FASB issued ASU No. 2014-12 "Compensation-Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period." This ASU was issued to address share-based payment awards with a performance target affecting vesting that could be achieved after the employee’s requisite service period. This ASU is effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. This ASU may be applied either (a) prospectively to all awards granted or modified after the effective date or (b) retrospectively to all awards with performance targets that are outstanding as of the beginning of the earliest annual period presented in the financial statements and to all new or modified awards thereafter. The adoption of ASU No. 2014-12 is not expected to have a material impact on our consolidated financial condition and results of operations.
	In August 2014, the FASB issued ASU No. 2014-15, "Presentation of Financial Statements - Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern." This ASU requires management to evaluate whether there are conditions or events that raise substantial doubt about the ability of a company to continue as a going concern for one year from the date the financial statements are issued or within one year after the date that the financial statements are available to be issued when applicable. Further, the ASU provides management guidance regarding its responsibility to disclose the ability of a company to continue as a going concern in the notes to the financial statements. This ASU is effective for annual periods ending after December 15, 2016, and interim periods thereafter, with early adoption permitted. The adoption of ASU No. 2014-15 is not expected to have an impact on our consolidated financial condition and results of operations.
	In November 2014, the FASB issued ASU 2015-01, “Income Statement-Extraordinary and Unusual Items (Subtopic 225-20): Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items.” In connection with the FASB's efforts to simplify accounting standards, the FASB released new guidance on simplifying Income Statement presentation by eliminating the concept of extraordinary items from U.S. GAAP. With the issuance of this ASU the FASB determined that the elimination of the concept of extraordinary items from U.S. GAAP would reduce the cost and complexity on the application of accounting standards, while maintaining or improving the usefulness of information included in financial statements. The adoption of ASU No. 2015-01 is not expected to have an impact on our consolidated financial condition and results of operations.
	In February 2015, the FASB issued ASU No. 2015-02, "Consolidation (Topic 810) - Amendments to the Consolidation Analysis,” which provides guidance on the analysis process companies must perform in order to determine whether a legal entity should be consolidated. The new ASU simplifies U.S. GAAP by eliminating entity specific consolidation guidance for limited partnerships. It also revises other aspects of the consolidation analysis, to include the ownership assessment of variable interest entities (VIEs), fee arrangements and how related parties are assessed. The amendments rescind the indefinite deferral of FASB Statement 167, Amendments to FASB Interpretation No. 46(R), for certain investment funds and replace it with a permanent scope exception for money market funds. ASU 2015-02 is effective for periods beginning after December 15, 2015. Early adoption is permitted, including adoption in an interim period. We are currently evaluating the impact of ASU No. 2015-02 on our consolidated financial condition and results of operations.
	In April 2015, the FASB issued ASU No. 2015-03, "Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs.” The ASU was issued in connection with the FASB's efforts to simplify accounting standards for the presentation of debt issuance costs. The amendments of this ASU require companies to present debt issuance costs the same manner that present debt discounts are currently reported, as a direct deduction from the carrying value of that debt liability. The applicability of this requirement does not impact the recognition and measurement guidance for debt issuance costs. ASU 2015-03 is effective for periods beginning after December 15, 2015. Early adoption is allowed for financial statements that have yet to be issued. The adoption of ASU No. 2015-03 is not expected to have a material impact on our consolidated financial condition and results of operations.

Acquisition_and_Disposition

Acquisition and Disposition	3 Months Ended
	Mar. 31, 2015
Business Combinations [Abstract]
Acquisition and Disposition
	2	Acquisition and Disposition
	SIHI Group B.V.
	Effective January 7, 2015, we acquired for inclusion in Industrial Product Division ("IPD"), 100% of SIHI Group B.V. ("SIHI"), a global provider of engineered vacuum and fluid pumps and related services, primarily servicing the chemical market, as well as the pharmaceutical, food & beverage and other process industries, in a stock purchase for €286.7 million ($341.5 million based on exchange rates in effect at the time the acquisition closed and net of cash acquired) in cash. The acquisition was funded using approximately $110 million in available cash and approximately $255 million in initial borrowings from our Revolving Credit Facility, which was subsequently paid down with a portion of the net proceeds from our 2022 EUR Senior Notes discussed in Note 5. SIHI, based in the Netherlands, has operations primarily in Europe and, to a lesser extent, the Americas and Asia.
	The fair value of assets acquired and liabilities assumed has been recorded on a preliminary basis. We will continue to evaluate the initial fair values, which may be adjusted as additional information relative to the fair values of the assets and liabilities becomes available. We currently do not anticipate material adjustments in future periods. The preliminary allocation of the purchase price is summarized below:


		(Amounts in millions)
	Accounts receivable	$	56.2

	Inventories	74

	Prepaid expenses and other	17.2

	Total current assets	147.4

	Intangible assets
	Trademarks	20.9

	Existing customer relationships	45.3

	Backlog	8.5

	Engineering drawings and other	3.9

	Total intangible assets	78.6

	Property, plant and equipment	87.5

	Long-term deferred tax asset	10.7

	Investments in affiliates	11.6

	Total assets	335.8

	Current liabilities	(87.0		)
	Noncurrent liabilities	(101.7		)
	Net assets	147.1

	Goodwill	194.4

	Purchase price, net of cash acquired of $23.4 million	$	341.5

	The excess of the acquisition date fair value of the total purchase price over the estimated fair value of the net assets was recorded as goodwill. Goodwill of $194.4 million represents the value expected to be obtained from strengthening Flowserve’s portfolio of products and services through the addition of SIHI's engineered vacuum and fluid pumps, as well as the associated aftermarket services and parts. The goodwill related to this acquisition is recorded in the IPD segment and is not expected to be deductible for tax purposes. The trademarks are primarily indefinite-lived intangibles. Existing customer relationships, engineering drawings and backlog have expected weighted average useful lives of 10 years, 10 years and less than one year, respectively. In total, amortizable intangible assets have a weighted average useful live of approximately 9 years.
	Subsequent to January 7, 2015, the revenues and expenses of SIHI have been included in our condensed consolidated statement of income. The SIHI acquisition generated sales of approximately $67 million for the three months ended March 31, 2015 and decreased earnings by approximately $24 million, including $5.0 million in acquisition-related costs. SIHI's sales (unaudited) were approximately €270 million during its fiscal year ended November 30, 2014. No proforma financial information has been presented due to immateriality.



	Naval OY
	Effective March 31, 2014, we sold our Flow Control Division's ("FCD") Naval OY ("Naval") business to a Finnish valve manufacturer. The sale included Naval's manufacturing facility located in Laitila, Finland and a service and support center located in St. Petersburg, Russia. The cash proceeds for the sale totaled $46.8 million, net of cash divested, and resulted in a $13.4 million pre-tax gain recorded in selling, general and administrative expense in the condensed consolidated statements of income. Net sales related to the Naval business totaled $8.2 million in the first quarter of 2014.

StockBased_Compensation_Plans

Stock-Based Compensation Plans	3 Months Ended
	Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation Plans	Stock-Based Compensation Plans
	We maintain the Flowserve Corporation Equity and Incentive Compensation Plan (the "2010 Plan"), which is a shareholder-approved plan authorizing the issuance of up to 8,700,000 shares of our common stock in the form of restricted shares, restricted share units and performance-based units (collectively referred to as "Restricted Shares"), incentive stock options, non-statutory stock options, stock appreciation rights and bonus stock. Of the 8,700,000 shares of common stock authorized under the 2010 Plan, 4,310,368 were available for issuance as of March 31, 2015. The Flowserve Corporation 2004 Stock Compensation Plan expired on June 22, 2014, with 827,835 shares unissued. No stock options have been granted since 2006.
	Restricted Shares – Awards of Restricted Shares are valued at the closing market price of our common stock on the date of grant. The unearned compensation is amortized to compensation expense over the vesting period of the restricted shares. We had unearned compensation of $49.5 million and $30.6 million at March 31, 2015 and December 31, 2014, respectively, which is expected to be recognized over a weighted-average period of approximately two years. These amounts will be recognized into net earnings in prospective periods as the awards vest. The total fair value of Restricted Shares vested during the three months ended March 31, 2015 and 2014 was $37.8 million and $32.9 million, respectively.
	We recorded stock-based compensation expense of $6.0 million ($9.1 million pre-tax) and $6.5 million ($9.9 million pre-tax) for the three months ended March 31, 2015 and 2014, respectively.
	The following table summarizes information regarding Restricted Shares:


		Three Months Ended March 31, 2015
		Shares		Weighted Average
				Grant-Date Fair
				Value
	Number of unvested shares:
	Outstanding - January 1, 2015	1,856,548		$	52.29

	Granted	570,193		56.07

	Vested	(892,407	)	42.31

	Canceled	(71,277	)	60.62

	Outstanding - March 31, 2015	1,463,057		$	59.44

	Unvested Restricted Shares outstanding as of March 31, 2015, includes approximately 744,000 units with performance-based vesting provisions. Performance-based units are issuable in common stock and vest upon the achievement of pre-defined performance targets, primarily based on our average annual return on net assets over a three-year period as compared with the same measure for a defined peer group for the same period. Most units were granted in three annual grants since January 1, 2013 and have a vesting percentage between 0% and 200% depending on the achievement of the specific performance targets. Compensation expense is recognized ratably over a cliff-vesting period of 36 months, based on the fair market value of our common stock on the date of grant, as adjusted for anticipated forfeitures. During the performance period, earned and unearned compensation expense is adjusted based on changes in the expected achievement of the performance targets. Vesting provisions range from 0 to approximately 1,444,000 shares based on performance targets. As of March 31, 2015, we estimate vesting of approximately 909,000 shares based on expected achievement of performance targets.

Derivative_Instruments_and_Hed

Derivative Instruments and Hedges	3 Months Ended
	Mar. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedges	Derivative Instruments and Hedges
	Our risk management and foreign currency derivatives and hedging policy specifies the conditions under which we may enter into derivative contracts. See Notes 1 and 6 to our consolidated financial statements included in our 2014 Annual Report and Note 6 of this Quarterly Report for additional information on our derivatives. We enter into foreign exchange forward and swap contracts to hedge our cash flow risks associated with transactions denominated in currencies other than the local currency of the operation engaging in the transaction. All designated foreign exchange hedging instruments are highly effective as of March 31, 2015.
	Foreign exchange contracts designated as hedging instruments had a notional value of $81.0 million and $125.9 million, at March 31, 2015 and December 31, 2014, respectively. Foreign exchange contracts with third parties not designated as hedging instruments had a notional value of $498.9 million and $421.1 million, at March 31, 2015 and December 31, 2014, respectively. At March 31, 2015, the length of foreign exchange contracts currently in place ranged from two days to 34 months.
	Also as part of our risk management program, we enter into interest rate swap agreements to hedge exposure to floating interest rates on certain portions of our debt. At March 31, 2015 and December 31, 2014, we had $25.0 million and $40.0 million, respectively, of notional amount in outstanding interest rate swaps with third parties. All interest rate swaps are highly effective. At March 31, 2015, the maximum remaining length of any interest rate swap contract in place was approximately 3 months.
	We are exposed to risk from credit-related losses resulting from nonperformance by counterparties to our financial instruments. We perform credit evaluations of our counterparties under foreign exchange contracts and interest rate swap agreements and expect all counterparties to meet their obligations. We have not experienced credit losses from our counterparties.
	The fair value of foreign exchange contracts not designated as hedging instruments are summarized below:


		March 31,		December 31,
	(Amounts in thousands)	2015		2014
	Current derivative assets	$	21,534	$	11,709

	Noncurrent derivative assets	15		6

	Current derivative liabilities	15,212		6,168

	Noncurrent derivative liabilities	435		348


	The fair value of interest rate swaps and foreign exchange contracts designated as hedging instruments are summarized below:


		March 31,		December 31,
	(Amounts in thousands)	2015		2014
	Current derivative liabilities	$	10,674	$	6,952

	Noncurrent derivative liabilities	846		411

	Current and noncurrent derivative assets are reported in our condensed consolidated balance sheets in prepaid expenses and other and other assets, net, respectively. Current and noncurrent derivative liabilities are reported in our condensed consolidated balance sheets in accrued liabilities and retirement obligations and other liabilities, respectively.
	The impact of net changes in the fair values of foreign exchange contracts are summarized below:


		Three Months Ended March 31,
	(Amounts in thousands)	2015		2014
	Gain recognized in income	$	25,080	$	1,544

	Gains and losses recognized in our condensed consolidated statements of income for foreign exchange contracts are classified as other expense, net.
	The impact of net changes in the fair values of interest rate swaps in cash flow hedging relationships are immaterial for disclosures purposes.
	In March 2015, we designated €255.7 million of our €500.0 million Euro senior notes discussed in Note 5 as a net investment hedge of our investments in certain of our international subsidiaries that use the Euro as their functional currency. We used the spot method to measure the effectiveness of our net investment hedge. Under this method, for each reporting period, the change in the carrying value of the Euro senior notes due to remeasurement of the effective portion is reported in accumulated other comprehensive loss on our condensed consolidated balance sheet and the remaining change in the carrying value of the ineffective portion, if any, is recognized in other expense, net in our condensed statement of income. We evaluate the effectiveness of our net investment hedge on a prospective basis at the beginning of each quarter. We did not record any ineffectiveness for the three months ended March 31, 2015.

Debt

Debt	3 Months Ended
	Mar. 31, 2015
Debt Disclosure [Abstract]
Debt	Debt
	Debt, including capital lease obligations, consisted of:


		March 31,		December 31,
	(Amounts in thousands, except percentages)	2015		2014
	1.25% EUR Senior Notes due March 17, 2022, net of unamortized discount	$	532,957	$	—

	4.00% USD Senior Notes due November 15, 2023, net of unamortized discount	298,761		298,731

	3.50% USD Senior Notes due September 15, 2022, net of unamortized discount	498,503		498,460

	Term Loan Facility, interest rate of 1.52% at March 31, 2015 and 1.51% at December 31, 2014	320,000		330,000

	Capital lease obligations and other borrowings	29,300		27,731

	Debt and capital lease obligations	1,679,521		1,154,922

	Less amounts due within one year	58,739		53,131

	Total debt due after one year	$	1,620,782	$	1,101,791


	Senior Notes
	On March 17, 2015, we completed a public offering of €500.0 million of Euro senior notes in aggregate principal amount due March 17, 2022 ("2022 EUR Senior Notes"). The 2022 EUR Senior Notes bear an interest rate of 1.25% per year, payable each year on March 17, commencing on March 17, 2016. The 2022 EUR Senior Notes were priced at 99.336% of par value, reflecting a discount to the aggregate principal amount. The net proceeds of the offering were €494.0 million ($523.4 million based on exchange rates in effect at the time the offering closed). We used a portion of the net proceeds of the 2022 EUR Senior Notes to ultimately fund the acquisition of SIHI described in Note 2 and anticipate utilizing the remaining portion for other general corporate purposes.

	Senior Credit Facility
	As discussed in Note 10 to our consolidated financial statements included in our 2014 Annual Report, on October 4, 2013 we amended our existing credit agreement that provided for a $400.0 million term loan (“Term Loan Facility”) and a $1.0 billion revolving credit facility (“Revolving Credit Facility” and, together with the Term Loan Facility, the “Senior Credit Facility”) with a maturity date of October 4, 2018. As of March 31, 2015 and December 31, 2014, we had no amounts outstanding under the Revolving Credit Facility. We had outstanding letters of credit of $78.9 million and $76.8 million at March 31, 2015 and December 31, 2014, respectively, which reduced our borrowing capacity to $921.1 million and $923.2 million, respectively. Our compliance with applicable financial covenants under the Senior Credit Facility is tested quarterly, and we complied with all covenants at March 31, 2015.
	We may prepay loans under our Senior Credit Facility in whole or in part, without premium or penalty, at any time. A commitment fee, which is payable quarterly on the daily unused portions of the Senior Credit Facility, was 0.175% (per annum) during the period ended March 31, 2015. During the three months ended March 31, 2015, we made scheduled repayments of $10.0 million under our Term Loan Facility. We have scheduled repayments of $10.0 million due in the next two quarters, $15.0 million in the fourth quarter of 2015 and $15.0 million in the first quarter of 2016 on our Senior Credit Facility. Our Senior Credit Facility bears a floating rate of interest, and we have $25.0 million of notional amount of interest rate swaps at March 31, 2015 to hedge exposure to floating interest rates.
	Our Senior Notes and Senior Credit Facility were fully and unconditionally and jointly and severally guaranteed by certain of our 100% owned domestic subsidiaries. Pursuant to the terms of the indentures governing the Senior Notes any guarantees on such debt were subject to release if the Company satisfactorily achieved and met the following guaranty release conditions: (a) obtains a ratings of BBB (stable outlook) or better from S&P and Baa2 (stable outlook) or better from Moody’s and (b) our domestic subsidiaries do not guarantee any material indebtedness. On February 27, 2015 Standard & Poor's Ratings Services raised its corporate credit and senior unsecured debt ratings rating on the Company to BBB from BBB-, with a stable outlook. As of March 11, 2015 Moody’s Investors Services' corporate credit and senior unsecured debt ratings rating on the Company was Baa2, with a stable outlook. As a result, the guarantees of the Senior Notes and Senior Credit Facility were released as of March 26, 2015 upon the discharge of the terms of the note indentures and Senior Credit Facility agreement; therefore, the Company is exempt from disclosing supplemental guarantor financial information in accordance with Rule 3-10 of Regulation S-X, promulgated under the Securities Act of 1933.

Fair_Value

Fair Value	3 Months Ended
Fair Value	Mar. 31, 2015
Fair Value Disclosures [Abstract]
Fair Value	Fair Value
	Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Where available, fair value is based on observable market prices or parameters or derived from such prices or parameters. Where observable prices or inputs are not available, valuation models may be applied. Assets and liabilities recorded at fair value in our condensed consolidated balance sheets are categorized by hierarchical levels based upon the level of judgment associated with the inputs used to measure their fair values. Recurring fair value measurements are limited to investments in derivative instruments. The fair value measurements of our derivative instruments are determined using models that maximize the use of the observable market inputs including interest rate curves and both forward and spot prices for currencies, and are classified as Level II under the fair value hierarchy. The fair values of our derivatives are included in Note 4.
	Our financial instruments are presented at fair value in our condensed consolidated balance sheets, with the exception of our long-term debt. The estimated fair value of our long-term debt, excluding the Senior Notes, approximates the carrying value and is classified as Level II under the fair value hierarchy. The carrying value of our debt is included in Note 5. The estimated fair value of our Senior Notes at March 31, 2015 was $1,345.4 million compared to the carrying value of $1,330.2 million. The estimated fair value of the Senior Notes is based on Level I quoted market rates. The carrying amounts of our other financial instruments (e.g., cash and cash equivalents, accounts receivable, net, accounts payable and short-term debt) approximated fair value due to their short-term nature at March 31, 2015 and December 31, 2014.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2015
Inventory Disclosure [Abstract]
Inventories	Inventories
	Inventories, net consisted of the following:


		March 31,			December 31,
	(Amounts in thousands)	2015			2014
	Raw materials	$	427,937		$	352,928

	Work in process	748,713			687,343

	Finished goods	265,807			265,439

	Less: Progress billings	(245,418		)	(230,058		)
	Less: Excess and obsolete reserve	(78,099		)	(80,088		)
	Inventories, net	$	1,118,940		$	995,564

Earnings_Per_Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share
	The following is a reconciliation of net earnings of Flowserve Corporation and weighted average shares for calculating net earnings per common share. Earnings per weighted average common share outstanding was calculated as follows:





		Three Months Ended March 31,
	(Amounts in thousands, except per share data)	2015		2014
	Net earnings of Flowserve Corporation	$	27,666	$	107,734

	Dividends on restricted shares not expected to vest	3		3

	Earnings attributable to common and participating shareholders	$	27,669	$	107,737

	Weighted average shares:
	Common stock	134,388		137,123

	Participating securities	530		611

	Denominator for basic earnings per common share	134,918		137,734

	Effect of potentially dilutive securities	1,036		1,136

	Denominator for diluted earnings per common share	135,954		138,870

	Earnings per common share:
	Basic	$	0.21	$	0.78

	Diluted	0.2		0.78

	Diluted earnings per share above is based upon the weighted average number of shares as determined for basic earnings per share plus shares potentially issuable in conjunction with stock options and Restricted Shares.
	For the three months ended both March 31, 2015 and 2014, no options to purchase common stock were excluded from the computation of potentially dilutive securities.

Legal_Matters_and_Contingencie

Legal Matters and Contingencies	3 Months Ended
Legal Matters and Contingencies	Mar. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Legal Matters and Contingencies	Legal Matters and Contingencies
	Asbestos-Related Claims
	We are a defendant in a substantial number of lawsuits that seek to recover damages for personal injury allegedly caused by exposure to asbestos-containing products manufactured and/or distributed by our heritage companies in the past. While the overall number of asbestos-related claims has generally declined in recent years, there can be no assurance that this trend will continue, or that the average cost per claim will not further increase. Asbestos-containing materials incorporated into any such products were encapsulated and used as internal components of process equipment, and we do not believe that any significant emission of asbestos fibers occurred during the use of this equipment.
	Our practice is to vigorously contest and resolve these claims, and we have been successful in resolving a majority of claims with little or no payment. Historically, a high percentage of resolved claims have been covered by applicable insurance or indemnities from other companies, and we believe that a substantial majority of existing claims should continue to be covered by insurance or indemnities. Accordingly, we have recorded a liability for our estimate of the most likely settlement of asserted claims and a related receivable from insurers or other companies for our estimated recovery, to the extent we believe that the amounts of recovery are probable and not otherwise in dispute. While unfavorable rulings, judgments or settlement terms regarding these claims could have a material adverse impact on our business, financial condition, results of operations and cash flows, we currently believe the likelihood is remote.
	Additionally, we have claims pending against certain insurers that, if resolved more favorably than reflected in the recorded receivables, would result in discrete gains in the applicable quarter. We are currently unable to estimate the impact, if any, of unasserted asbestos-related claims, although future claims would also be subject to then existing indemnities and insurance coverage.
	United Nations Oil-for-Food Program
	In mid-2006, the French authorities began an investigation of over 170 French companies, of which one of our French subsidiaries was included, concerning suspected inappropriate activities conducted in connection with the United Nations Oil for Food Program. As previously disclosed, the French investigation of our French subsidiary was formally opened in the first quarter of 2010, and our French subsidiary filed a formal response with the French court. In July 2012, the French court ruled against our procedural motions to challenge the constitutionality of the charges and quash the indictment. The French Court is currently in the process of concluding its formal review process. Hearings occurred on April 1-2, 2015, and the Company presented its defense and closing arguments. The court is expected to rule later this year. We currently do not expect to incur additional case resolution costs of a material amount in this matter. However, if the French authorities ultimately take enforcement action against our French subsidiary regarding its investigation, we may be subject to monetary and non-monetary penalties, which we currently do not believe will have a material adverse financial impact on our company.
	In addition to the governmental investigation referenced above, on June 27, 2008, the Republic of Iraq filed a civil suit in federal court in New York against 93 participants in the United Nations Oil-for-Food Program, including us and our two foreign subsidiaries that participated in the program. There have been no material developments in this case since it was initially filed. We intend to vigorously contest the suit, and we believe that we have valid defenses to the claims asserted. While we cannot predict the outcome of the suit at the present time, we do not currently believe the resolution of this suit will have a material adverse financial impact on our company.
	Other
	We are currently involved as a potentially responsible party at five former public waste disposal sites in various stages of evaluation or remediation. The projected cost of remediation at these sites, as well as our alleged "fair share" allocation, will remain uncertain until all studies have been completed and the parties have either negotiated an amicable resolution or the matter has been judicially resolved. At each site, there are many other parties who have similarly been identified. Many of the other parties identified are financially strong and solvent companies that appear able to pay their share of the remediation costs. Based on our information about the waste disposal practices at these sites and the environmental regulatory process in general, we believe that it is likely that ultimate remediation liability costs for each site will be apportioned among all liable parties, including site owners and waste transporters, according to the volumes and/or toxicity of the wastes shown to have been disposed of at the sites. We believe that our financial exposure for existing disposal sites will not be materially in excess of accrued reserves.
	We are also a defendant in a number of other lawsuits, including product liability claims, that are insured, subject to the applicable deductibles, arising in the ordinary course of business, and we are also involved in other uninsured routine litigation incidental to our business. We currently believe none of such litigation, either individually or in the aggregate, is material to our business, operations or overall financial condition. However, litigation is inherently unpredictable, and resolutions or dispositions of claims or lawsuits by settlement or otherwise could have an adverse impact on our financial position, results of operations or cash flows for the reporting period in which any such resolution or disposition occurs.
	Although none of the aforementioned potential liabilities can be quantified with absolute certainty except as otherwise indicated above, we have established reserves covering exposures relating to contingencies, to the extent believed to be reasonably estimable and probable based on past experience and available facts. While additional exposures beyond these reserves could exist, they currently cannot be estimated. We will continue to evaluate and update the reserves as necessary and appropriate.

Retirement_and_Postretirement_

Retirement and Postretirement Benefits	3 Months Ended
	Mar. 31, 2015
Compensation and Retirement Disclosure [Abstract]
Retirement and Postretirement Benefits	Retirement and Postretirement Benefits
	Components of the net periodic cost for retirement and postretirement benefits for the three months ended March 31, 2015 and 2014 were as follows:


		U.S.						Non-U.S.						Postretirement
		Defined Benefit Plans						Defined Benefit Plans						Medical Benefits
	(Amounts in millions)	2015			2014			2015			2014			2015			2014
	Service cost	$	6.2		$	5.7		$	2.2		$	1.7		$	—		$	—

	Interest cost	4.3			4.4			3.3			3.7			0.3			0.3

	Expected return on plan assets	(6.1		)	(5.5		)	(3.0		)	(2.7		)	—			—

	Amortization of prior service cost	0.1			0.1			—			0.1			—			—

	Amortization of unrecognized net loss (gain)	2.3			2			1.3			1.7			(0.1		)	(0.4		)

	Net periodic cost (benefit) recognized	$	6.8		$	6.7		$	3.8		$	4.5		$	0.2		$	(0.1	)

Shareholders_Equity

Shareholders' Equity	3 Months Ended
Shareholders' Equity	Mar. 31, 2015
Equity [Abstract]
Shareholders' Equity	Shareholders’ Equity
	Dividends – On February 16, 2015, our Board of Directors authorized an increase in the payment of quarterly dividends on our common stock from $0.16 per share to $0.18 per share payable beginning on April 10, 2015. On February 17, 2014, our Board of Directors authorized an increase in the payment of quarterly dividends on our common stock from $0.14 per share to $0.16 per share payable quarterly beginning on April 11, 2014. Generally, our dividend date-of-record is in the last month of the quarter, and the dividend is paid the following month. Any subsequent dividends will be reviewed by our Board of Directors and declared in its discretion dependent on its assessment of our financial situation and business outlook at the applicable time.
	Share Repurchase Program – On November 13, 2014, our Board of Directors approved a $500.0 million share repurchase authorization, which included approximately $175 million of remaining capacity under the prior $750.0 million share repurchase authorization. Our share repurchase program does not have an expiration date, and we reserve the right to limit or terminate the repurchase program at anytime without notice.
	We repurchased 1,382,025 shares of our outstanding common stock for $79.9 million, and 1,436,423 shares for $109.6 million, during the three months ended March 31, 2015 and 2014, respectively. As of March 31, 2015, we have $384.5 million of remaining capacity under our current share repurchase program.

Income_Taxes

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2015
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes
	For the three months ended March 31, 2015, we earned $58.2 million before taxes and provided for income taxes of $28.5 million resulting in an effective tax rate of 49.0%. The effective tax rate varied from the U.S. federal statutory rate for the three months ended March 31, 2015 primarily due to tax impacts of our realignment program and the Venezuelan exchange rate remeasurement loss.
	For the three months ended March 31, 2014, we earned $146.6 million before taxes and provided for income taxes of $38.0 million, resulting in an effective tax rate of 25.9%. The effective tax rate varied from the U.S. federal statutory rate for the three months ended March 31, 2014 primarily due to the net impact of foreign operations and the lapse of the statute of limitations in certain jurisdictions.
	As of March 31, 2015, the amount of unrecognized tax benefits increased by $8.1 million from December 31, 2014. With limited exception, we are no longer subject to U.S. federal income tax audits for years through 2012, state and local income tax audits for years through 2009 or non-U.S. income tax audits for years through 2007. We are currently under examination for various years in Austria, Germany, India, Italy, Singapore, the U.S. and Venezuela.
	It is reasonably possible that within the next 12 months the effective tax rate will be impacted by the resolution of some or all of the matters audited by various taxing authorities. It is also reasonably possible that we will have the statute of limitations close in various taxing jurisdictions within the next 12 months. As such, we estimate we could record a reduction in our tax expense of approximately $11.0 million within the next 12 months.

Segment_Information

Segment Information	3 Months Ended
	Mar. 31, 2015
Segment Reporting [Abstract]
Segment Information	Segment Information
	During the three months ended March 31, 2015, we made composition changes to our Engineered Product Division ("EPD") and IPD reportable segments to take into consideration the acquisition of SIHI that was finalized on January 7, 2015. Effective January 1, 2015, certain activities, primarily related to engineered pumps and seals, that were previously included in the IPD business segment will now be reported in the EPD business segment. These changes did not materially impact segment results or segment assets. We did not change our business segments, management structure, chief operating decision maker or how we evaluate segment performance and allocate resources. Prior periods were retrospectively adjusted to conform to the new reportable segment composition. The following is a summary of the financial information of the reportable segments reconciled to the amounts reported in the condensed consolidated financial statements:






	Three Months Ended March 31, 2015
	(Amounts in thousands)	Engineered Product Division		Industrial Product Division			Flow Control Division		Subtotal–Reportable Segments		Eliminations and All Other			Consolidated Total
	Sales to external customers	$	473,413	$	214,711		$	326,496	$	1,014,620	$	—		$	1,014,620

	Intersegment sales	10,747		8,655			667		20,069		(20,069		)	—

	Segment operating income (loss)	68,828		(13,338		)	54,715		110,205		(16,829		)	93,376


	Three Months Ended March 31, 2014
	(Amounts in thousands)	Engineered Product Division		Industrial Product Division			Flow Control Division		Subtotal–Reportable Segments		Eliminations and All Other			Consolidated Total
	Sales to external customers	$	510,311	$	175,994		$	381,831	$	1,068,136	$	—		$	1,068,136

	Intersegment sales	13,785		10,190			1,107		25,082		(25,082		)	—

	Segment operating income	81,353		18,788			83,133		183,274		(18,948		)	164,326

Accumulated_Other_Comprehensiv

Accumulated Other Comprehensive Loss	3 Months Ended
Accumulated Other Comprehensive Loss	Mar. 31, 2015
Equity [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss
	The following table presents the changes in accumulated other comprehensive loss ("AOCL"), net of tax for the three months ended March 31, 2015 and 2014:








		2015														2014
	(Amounts in thousands)	Foreign currency translation items(1)				Pension and other post-retirement effects				Cash flow hedging activity			Total(1)			Foreign currency translation items(1)			Pension and other post-retirement effects			Cash flow hedging activity			Total(1)
	Balance - January 1	$	(238,533	)		$	(135,398	)		$	(5,210	)	$	(379,141	)	$	(89,953	)	$	(129,528	)	$	(814	)	$	(220,295	)
	Other comprehensive (loss) income before reclassifications	(106,434		)		5,501				(8,353		)	(109,286		)	(2,509		)	298			24			(2,187		)
	Other comprehensive (loss) income before reclassifications	(106,434		)		5,501				(8,353		)	(109,286		)	(2,509		)	298			24			(2,187		)
	Amounts reclassified from AOCL	—				2,390				3,207			5,597			5,460			2,481			144			8,085
	Amounts reclassified from AOCL	—				2,390				3,207			5,597			5,460			2,481			144			8,085
	Net current-period other comprehensive (loss) income	(106,434		)		7,891				(5,146		)	(103,689		)	2,951			2,779			168			5,898
	Net current-period other comprehensive (loss) income	(106,434		)		7,891				(5,146		)	(103,689		)	2,951			2,779			168			5,898
	Balance - March 31	$	(344,967	)		$	(127,507	)		$	(10,356	)	$	(482,830	)	$	(87,002	)	$	(126,749	)	$	(646	)	$	(214,397	)
	_______________________________________
	(1) Includes foreign currency translation adjustments attributable to noncontrolling interests of $1.3 million and $1.2 million at January 1, 2015 and 2014 and $1.3 million and $1.4 million at March 31, 2015 and 2014. Includes accumulated net investment hedge losses of $2.1 million, net of deferred taxes, at March 31, 2015. Amounts in parentheses indicate debits.

	The following table presents the reclassifications out of AOCL:


					Three Months Ended March 31,
	(Amounts in thousands)		Affected line item in the statement of income		2015(1)				2014(1)
	Foreign currency translation items
	Release of cumulative translation adjustments due to sale of business		Selling, general and administrative expense		$	—			$	(5,460	)
			Selling, general and administrative expense		$	—			$	(5,460	)
			Tax benefit		—				—
			Tax benefit		—				—
			Net of tax		$	—			$	(5,460	)
			Net of tax		$	—			$	(5,460	)

	Cash flow hedging activity
	Foreign exchange contracts		Other expense, net		$	(3,327	)		$	—
	Foreign exchange contracts		Other expense, net		$	(3,327	)		$	—
			Sales		$	(1,182	)		$	(230	)
			Tax benefit		1,302				86
			Tax benefit		1,302				86
			Net of tax		$	(3,207	)		$	(144	)

	Pension and other postretirement effects
	Amortization of actuarial losses(2)				$	(3,424	)		$	(3,427	)
	Prior service costs(2)				(156		)		(118		)
			Tax benefit		1,190				1,064
			Tax benefit		1,190				1,064
			Net of tax		$	(2,390	)		$	(2,481	)
	_______________________________________
	(1) Amounts in parentheses indicate decreases to income. None of the reclass amounts have a noncontrolling interest component.

	-2	These accumulated other comprehensive loss components are included in the computation of net periodic pension cost. See Note 10 for additional details.

	At March 31, 2015, we expect to recognize a loss of $7.1 million, net of deferred taxes, into earnings in the next twelve months related to designated cash flow hedges based on their fair values at March 31, 2015.

Realignment_Program

Realignment Program	3 Months Ended
Realignment Program	Mar. 31, 2015
Restructuring and Related Activities [Abstract]
Realignment Program	15. Realignment Program
	In the first quarter of 2015, we initiated a realignment program to reduce and optimize certain non-strategic QRC and manufacturing facilities primarily resulting from the SIHI acquisition. We expect total charges will be $39.0 million for approved plans, of which $26.3 million has been incurred through March 31, 2015. We anticipate that the majority of the charges will be incurred through the remainder of 2015 and early 2016.
	The realignment program consists of both restructuring and non-restructuring charges. Restructuring charges represent costs associated with the relocation or reorganization of certain business activities and facility closures and primarily represent employee severance. Non-restructuring charges are costs incurred to improve operating efficiency and reduce redundancies and primarily represent employee severance. Expenses are primarily reported in COS or SG&A, as applicable, in our condensed consolidated statements of income.
	Realignment charges, net of adjustments, were $26.3 million and $1.0 million for the three months ended March 31, 2015 and 2014, respectively. Of the 2015 charges, $20.6 million was recorded in IPD and $0.6 million in EPD, and $5.0 million was reported in income tax expense in our condensed consolidated statement of income for the three months ended March 31, 2015. The majority of these charges are restructuring in nature.
	Generally, the aforementioned charges will be paid in cash, except for asset write-downs, which are non-cash charges. There were no asset write-downs for the three months ended March 31, 2015. The majority of the cash payments will be incurred through the remainder of 2015 and early 2016. The restructuring reserve related to our realignment programs was $21.2 million and $1.1 million at March 31, 2015 and December 31, 2014, respectively. Other than the aforementioned realignment charges there was no significant activity related to the restructuring reserve during the three months ended March 31, 2015.

Basis_of_Presentation_and_Acco1

Basis of Presentation and Accounting Policies (Policies)	3 Months Ended
Basis of Presentation and Accounting Policies (Policies)	Mar. 31, 2015
Accounting Policies [Abstract]
New Accounting Pronouncements	Accounting Developments
	Pronouncements Implemented
	In June 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2014-11 "Transfers and Servicing (Topic 860): Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures." This ASU changes the accounting for repurchase-to-maturity transactions and linked repurchase financings so that such transactions will now be accounted for as secured borrowings. This accounting change is effective for the first interim or annual period beginning after December 15, 2014 and early adoption is not permitted. There are also new disclosure requirements in this ASU. Our adoption of ASU No. 2014-11 did not have an impact on our consolidated financial condition and results of operations.
	*Pronouncements Not Yet Implemented*
	In May 2014, the FASB issued ASU No. 2014-09, "Revenue from Contracts with Customers (Topic 606)" which supersedes the revenue recognition requirements in "Revenue Recognition (Topic 605)." The standard is principle-based and provides a five-step model to determine when and how revenue is recognized. The core principle is that a company should recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. There are also expanded disclosure requirements in this ASU. For public entities ASU 2014-09 is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period and allows for either full retrospective adoption or modified retrospective adoption. We are currently evaluating the impact of ASU No. 2014-09 on our consolidated financial condition and results of operations.
	In June 2014, the FASB issued ASU No. 2014-12 "Compensation-Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period." This ASU was issued to address share-based payment awards with a performance target affecting vesting that could be achieved after the employee’s requisite service period. This ASU is effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. This ASU may be applied either (a) prospectively to all awards granted or modified after the effective date or (b) retrospectively to all awards with performance targets that are outstanding as of the beginning of the earliest annual period presented in the financial statements and to all new or modified awards thereafter. The adoption of ASU No. 2014-12 is not expected to have a material impact on our consolidated financial condition and results of operations.
	In August 2014, the FASB issued ASU No. 2014-15, "Presentation of Financial Statements - Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern." This ASU requires management to evaluate whether there are conditions or events that raise substantial doubt about the ability of a company to continue as a going concern for one year from the date the financial statements are issued or within one year after the date that the financial statements are available to be issued when applicable. Further, the ASU provides management guidance regarding its responsibility to disclose the ability of a company to continue as a going concern in the notes to the financial statements. This ASU is effective for annual periods ending after December 15, 2016, and interim periods thereafter, with early adoption permitted. The adoption of ASU No. 2014-15 is not expected to have an impact on our consolidated financial condition and results of operations.
	In November 2014, the FASB issued ASU 2015-01, “Income Statement-Extraordinary and Unusual Items (Subtopic 225-20): Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items.” In connection with the FASB's efforts to simplify accounting standards, the FASB released new guidance on simplifying Income Statement presentation by eliminating the concept of extraordinary items from U.S. GAAP. With the issuance of this ASU the FASB determined that the elimination of the concept of extraordinary items from U.S. GAAP would reduce the cost and complexity on the application of accounting standards, while maintaining or improving the usefulness of information included in financial statements. The adoption of ASU No. 2015-01 is not expected to have an impact on our consolidated financial condition and results of operations.
	In February 2015, the FASB issued ASU No. 2015-02, "Consolidation (Topic 810) - Amendments to the Consolidation Analysis,” which provides guidance on the analysis process companies must perform in order to determine whether a legal entity should be consolidated. The new ASU simplifies U.S. GAAP by eliminating entity specific consolidation guidance for limited partnerships. It also revises other aspects of the consolidation analysis, to include the ownership assessment of variable interest entities (VIEs), fee arrangements and how related parties are assessed. The amendments rescind the indefinite deferral of FASB Statement 167, Amendments to FASB Interpretation No. 46(R), for certain investment funds and replace it with a permanent scope exception for money market funds. ASU 2015-02 is effective for periods beginning after December 15, 2015. Early adoption is permitted, including adoption in an interim period. We are currently evaluating the impact of ASU No. 2015-02 on our consolidated financial condition and results of operations.
	In April 2015, the FASB issued ASU No. 2015-03, "Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs.” The ASU was issued in connection with the FASB's efforts to simplify accounting standards for the presentation of debt issuance costs. The amendments of this ASU require companies to present debt issuance costs the same manner that present debt discounts are currently reported, as a direct deduction from the carrying value of that debt liability. The applicability of this requirement does not impact the recognition and measurement guidance for debt issuance costs. ASU 2015-03 is effective for periods beginning after December 15, 2015. Early adoption is allowed for financial statements that have yet to be issued. The adoption of ASU No. 2015-03 is not expected to have a material impact on our consolidated financial condition and results of operations.
Fair Value	Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Where available, fair value is based on observable market prices or parameters or derived from such prices or parameters. Where observable prices or inputs are not available, valuation models may be applied. Assets and liabilities recorded at fair value in our condensed consolidated balance sheets are categorized by hierarchical levels based upon the level of judgment associated with the inputs used to measure their fair values. Recurring fair value measurements are limited to investments in derivative instruments. The fair value measurements of our derivative instruments are determined using models that maximize the use of the observable market inputs including interest rate curves and both forward and spot prices for currencies, and are classified as Level II under the fair value hierarchy. The fair values of our derivatives are included in Note 4.

Acquisition_and_Disposition_Ta

Acquisition and Disposition (Tables)	3 Months Ended
	Mar. 31, 2015
Business Combinations [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	Acquisition and Disposition
	SIHI Group B.V.
	Effective January 7, 2015, we acquired for inclusion in Industrial Product Division ("IPD"), 100% of SIHI Group B.V. ("SIHI"), a global provider of engineered vacuum and fluid pumps and related services, primarily servicing the chemical market, as well as the pharmaceutical, food & beverage and other process industries, in a stock purchase for €286.7 million ($341.5 million based on exchange rates in effect at the time the acquisition closed and net of cash acquired) in cash. The acquisition was funded using approximately $110 million in available cash and approximately $255 million in initial borrowings from our Revolving Credit Facility, which was subsequently paid down with a portion of the net proceeds from our 2022 EUR Senior Notes discussed in Note 5. SIHI, based in the Netherlands, has operations primarily in Europe and, to a lesser extent, the Americas and Asia.
	The fair value of assets acquired and liabilities assumed has been recorded on a preliminary basis. We will continue to evaluate the initial fair values, which may be adjusted as additional information relative to the fair values of the assets and liabilities becomes available. We currently do not anticipate material adjustments in future periods. The preliminary allocation of the purchase price is summarized below:


		(Amounts in millions)
	Accounts receivable	$	56.2

	Inventories	74

	Prepaid expenses and other	17.2

	Total current assets	147.4

	Intangible assets
	Trademarks	20.9

	Existing customer relationships	45.3

	Backlog	8.5

	Engineering drawings and other	3.9

	Total intangible assets	78.6

	Property, plant and equipment	87.5

	Long-term deferred tax asset	10.7

	Investments in affiliates	11.6

	Total assets	335.8

	Current liabilities	(87.0		)
	Noncurrent liabilities	(101.7		)
	Net assets	147.1

	Goodwill	194.4

	Purchase price, net of cash acquired of $23.4 million	$	341.5

StockBased_Compensation_Plans_

Stock-Based Compensation Plans (Tables)	3 Months Ended
	Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Information Regarding Restricted Shares	The following table summarizes information regarding Restricted Shares:


		Three Months Ended March 31, 2015
		Shares		Weighted Average
				Grant-Date Fair
				Value
	Number of unvested shares:
	Outstanding - January 1, 2015	1,856,548		$	52.29

	Granted	570,193		56.07

	Vested	(892,407	)	42.31

	Canceled	(71,277	)	60.62

	Outstanding - March 31, 2015	1,463,057		$	59.44

Derivative_Instruments_and_Hed1

Derivative Instruments and Hedges (Tables)	3 Months Ended
	Mar. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of Fair Value of Forward Exchange Contracts not Designated as Hedging Instruments	The fair value of foreign exchange contracts not designated as hedging instruments are summarized below:


		March 31,		December 31,
	(Amounts in thousands)	2015		2014
	Current derivative assets	$	21,534	$	11,709

	Noncurrent derivative assets	15		6

	Current derivative liabilities	15,212		6,168

	Noncurrent derivative liabilities	435		348

Summary of Fair Value of Interest Rate Swaps and forward exchange derivative contracts in Designated Hedging Relationships	The fair value of interest rate swaps and foreign exchange contracts designated as hedging instruments are summarized below:


		March 31,		December 31,
	(Amounts in thousands)	2015		2014
	Current derivative liabilities	$	10,674	$	6,952

	Noncurrent derivative liabilities	846		411

Impact of Net Changes in Fair Values of Forward Exchange Contracts Not Designated as Hedging Instruments	The impact of net changes in the fair values of foreign exchange contracts are summarized below:


		Three Months Ended March 31,
	(Amounts in thousands)	2015		2014
	Gain recognized in income	$	25,080	$	1,544

	Gains and losses recognized in our condensed consolidated statements of income for foreign exchange contracts are classified as other expense, net.

Debt_Tables

Debt (Tables)	3 Months Ended
	Mar. 31, 2015
Debt Disclosure [Abstract]
Debt Including Capital Lease Obligations	Debt, including capital lease obligations, consisted of:


		March 31,		December 31,
	(Amounts in thousands, except percentages)	2015		2014
	1.25% EUR Senior Notes due March 17, 2022, net of unamortized discount	$	532,957	$	—

	4.00% USD Senior Notes due November 15, 2023, net of unamortized discount	298,761		298,731

	3.50% USD Senior Notes due September 15, 2022, net of unamortized discount	498,503		498,460

	Term Loan Facility, interest rate of 1.52% at March 31, 2015 and 1.51% at December 31, 2014	320,000		330,000

	Capital lease obligations and other borrowings	29,300		27,731

	Debt and capital lease obligations	1,679,521		1,154,922

	Less amounts due within one year	58,739		53,131

	Total debt due after one year	$	1,620,782	$	1,101,791

Inventories_Tables

Inventories (Tables)	3 Months Ended
	Mar. 31, 2015
Inventory Disclosure [Abstract]
Net Components of Inventory	Inventories, net consisted of the following:


		March 31,			December 31,
	(Amounts in thousands)	2015			2014
	Raw materials	$	427,937		$	352,928

	Work in process	748,713			687,343

	Finished goods	265,807			265,439

	Less: Progress billings	(245,418		)	(230,058		)
	Less: Excess and obsolete reserve	(78,099		)	(80,088		)
	Inventories, net	$	1,118,940		$	995,564

Earnings_Per_Share_Tables

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
Calculation of Net Earnings Per Common Share and Weighted Average Common Share Outstanding	The following is a reconciliation of net earnings of Flowserve Corporation and weighted average shares for calculating net earnings per common share. Earnings per weighted average common share outstanding was calculated as follows:





		Three Months Ended March 31,
	(Amounts in thousands, except per share data)	2015		2014
	Net earnings of Flowserve Corporation	$	27,666	$	107,734

	Dividends on restricted shares not expected to vest	3		3

	Earnings attributable to common and participating shareholders	$	27,669	$	107,737

	Weighted average shares:
	Common stock	134,388		137,123

	Participating securities	530		611

	Denominator for basic earnings per common share	134,918		137,734

	Effect of potentially dilutive securities	1,036		1,136

	Denominator for diluted earnings per common share	135,954		138,870

	Earnings per common share:
	Basic	$	0.21	$	0.78

	Diluted	0.2		0.78

Retirement_and_Postretirement_1

Retirement and Postretirement Benefits (Tables)	3 Months Ended
	Mar. 31, 2015
Compensation and Retirement Disclosure [Abstract]
Components of Net Periodic Cost for Pension and Postretirement Benefits	Components of the net periodic cost for retirement and postretirement benefits for the three months ended March 31, 2015 and 2014 were as follows:


		U.S.						Non-U.S.						Postretirement
		Defined Benefit Plans						Defined Benefit Plans						Medical Benefits
	(Amounts in millions)	2015			2014			2015			2014			2015			2014
	Service cost	$	6.2		$	5.7		$	2.2		$	1.7		$	—		$	—

	Interest cost	4.3			4.4			3.3			3.7			0.3			0.3

	Expected return on plan assets	(6.1		)	(5.5		)	(3.0		)	(2.7		)	—			—

	Amortization of prior service cost	0.1			0.1			—			0.1			—			—

	Amortization of unrecognized net loss (gain)	2.3			2			1.3			1.7			(0.1		)	(0.4		)

	Net periodic cost (benefit) recognized	$	6.8		$	6.7		$	3.8		$	4.5		$	0.2		$	(0.1	)

Segment_Information_Tables

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2015
Segment Reporting [Abstract]
Summarized Financial Information of Reportable Segments	The following is a summary of the financial information of the reportable segments reconciled to the amounts reported in the condensed consolidated financial statements:






	Three Months Ended March 31, 2015
	(Amounts in thousands)	Engineered Product Division		Industrial Product Division			Flow Control Division		Subtotal–Reportable Segments		Eliminations and All Other			Consolidated Total
	Sales to external customers	$	473,413	$	214,711		$	326,496	$	1,014,620	$	—		$	1,014,620

	Intersegment sales	10,747		8,655			667		20,069		(20,069		)	—

	Segment operating income (loss)	68,828		(13,338		)	54,715		110,205		(16,829		)	93,376


	Three Months Ended March 31, 2014
	(Amounts in thousands)	Engineered Product Division		Industrial Product Division			Flow Control Division		Subtotal–Reportable Segments		Eliminations and All Other			Consolidated Total
	Sales to external customers	$	510,311	$	175,994		$	381,831	$	1,068,136	$	—		$	1,068,136

	Intersegment sales	13,785		10,190			1,107		25,082		(25,082		)	—

	Segment operating income	81,353		18,788			83,133		183,274		(18,948		)	164,326

Accumulated_Other_Comprehensiv1

Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
Accumulated Other Comprehensive Loss (Tables)	Mar. 31, 2015
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table presents the changes in accumulated other comprehensive loss ("AOCL"), net of tax for the three months ended March 31, 2015 and 2014:








		2015														2014
	(Amounts in thousands)	Foreign currency translation items(1)				Pension and other post-retirement effects				Cash flow hedging activity			Total(1)			Foreign currency translation items(1)			Pension and other post-retirement effects			Cash flow hedging activity			Total(1)
	Balance - January 1	$	(238,533	)		$	(135,398	)		$	(5,210	)	$	(379,141	)	$	(89,953	)	$	(129,528	)	$	(814	)	$	(220,295	)
	Other comprehensive (loss) income before reclassifications	(106,434		)		5,501				(8,353		)	(109,286		)	(2,509		)	298			24			(2,187		)
	Other comprehensive (loss) income before reclassifications	(106,434		)		5,501				(8,353		)	(109,286		)	(2,509		)	298			24			(2,187		)
	Amounts reclassified from AOCL	—				2,390				3,207			5,597			5,460			2,481			144			8,085
	Amounts reclassified from AOCL	—				2,390				3,207			5,597			5,460			2,481			144			8,085
	Net current-period other comprehensive (loss) income	(106,434		)		7,891				(5,146		)	(103,689		)	2,951			2,779			168			5,898
	Net current-period other comprehensive (loss) income	(106,434		)		7,891				(5,146		)	(103,689		)	2,951			2,779			168			5,898
	Balance - March 31	$	(344,967	)		$	(127,507	)		$	(10,356	)	$	(482,830	)	$	(87,002	)	$	(126,749	)	$	(646	)	$	(214,397	)
	_______________________________________
	(1) Includes foreign currency translation adjustments attributable to noncontrolling interests of $1.3 million and $1.2 million at January 1, 2015 and 2014 and $1.3 million and $1.4 million at March 31, 2015 and 2014. Includes accumulated net investment hedge losses of $2.1 million, net of deferred taxes, at March 31, 2015. Amounts in parentheses indicate debits.
Reclassifications out of Accumulated Other Comprehensive Income (Loss)	The following table presents the reclassifications out of AOCL:


					Three Months Ended March 31,
	(Amounts in thousands)		Affected line item in the statement of income		2015(1)				2014(1)
	Foreign currency translation items
	Release of cumulative translation adjustments due to sale of business		Selling, general and administrative expense		$	—			$	(5,460	)
			Selling, general and administrative expense		$	—			$	(5,460	)
			Tax benefit		—				—
			Tax benefit		—				—
			Net of tax		$	—			$	(5,460	)
			Net of tax		$	—			$	(5,460	)

	Cash flow hedging activity
	Foreign exchange contracts		Other expense, net		$	(3,327	)		$	—
	Foreign exchange contracts		Other expense, net		$	(3,327	)		$	—
			Sales		$	(1,182	)		$	(230	)
			Tax benefit		1,302				86
			Tax benefit		1,302				86
			Net of tax		$	(3,207	)		$	(144	)

	Pension and other postretirement effects
	Amortization of actuarial losses(2)				$	(3,424	)		$	(3,427	)
	Prior service costs(2)				(156		)		(118		)
			Tax benefit		1,190				1,064
			Tax benefit		1,190				1,064
			Net of tax		$	(2,390	)		$	(2,481	)
	_______________________________________
	(1) Amounts in parentheses indicate decreases to income. None of the reclass amounts have a noncontrolling interest component.

	-2	These accumulated other comprehensive loss components are included in the computation of net periodic pension cost. See Note 10 for additional details.

Basis_of_Presentation_and_Acco2

Basis of Presentation and Accounting Policies (Details)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2015	Mar. 31, 2015	Mar. 31, 2015
	USD ($)	USD ($)	Venezuela	Venezuela	SICAD I Exchange rate	SIMADI Exchange Rate
			USD ($)	VEF	Venezuela	Venezuela
					VEF	VEF
Segment sales percentage of consolidated sales (less than 1%)			1.00%
SegmentAssetsPercentageOfConsolidatedAssets			0.50%
Percentage of outstanding accounts receivable				9.00%
Percentage of Receivables Re-classed to Long Term			50.00%
Foreign currency exchange rate, translation				6.3	12	192
Remeasurement loss	($28,539,000)	($7,541,000)	$20,600,000
Remeasurement Recognized In Other Expense Net			18,500,000
Currency Remeasurement Expense Recognized as Cost of Goods Sold			$2,100,000

Acquisition_and_Disposition_De

Acquisition and Disposition (Details)

3 Months Ended

0 Months Ended

3 Months Ended

12 Months Ended

3 Months Ended

Mar. 31, 2015

Mar. 31, 2014

Dec. 31, 2014

Mar. 31, 2014

Jan. 07, 2015

Mar. 31, 2015

Nov. 30, 2014

Jan. 07, 2015

Mar. 31, 2015

Jan. 07, 2015

Mar. 31, 2015

Jan. 07, 2015

Mar. 31, 2015

Jan. 07, 2015

USD ($)

Naval OY

SIHI Group B.V.

USD ($)

EUR (€)

USD ($)

EUR (€)

USD ($)

Trademarks

Existing customer relationships

Backlog

Engineering drawings and other

USD ($)

Schedule of Equity Method Investments [Line Items]

Business Acquisition, Purchase Price, Net of Cash Acquired

$23,400,000

Percentage acquired

100.00%

Business Combination, Consideration Transferred

341,500,000

286,700,000

Business Combination, Cash Consideration Transferred

110,000,000

Business Combination, Consideration Transferred from borrowed sources

255,000,000

Accounts receivable

56,200,000

Inventories

74,000,000

Prepaid expenses and other

17,200,000

Total current assets

147,400,000

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles

78,600,000

20,900,000

45,300,000

8,500,000

3,900,000

Property, plant and equipment

87,500,000

Long-term deferred tax asset

10,700,000

Investments in affiliates

11,600,000

Total assets

335,800,000

Current liabilities

-87,000,000

Noncurrent liabilities

-101,700,000

Net assets

147,100,000

Goodwill

1,214,919,000

1,067,255,000

194,400,000

Acquired Finite-lived Intangible Assets, Weighted Average Useful Life

9 years

10 years

1 year

10 years

Business Acquisition, Sales Generated by Acquired Entity

67,000,000

Business Acquisition Impact On Operating Income

24,400,000

Business Acquisition Related Costs

5,000,000

Purchase price, net of cash acquired of $23.4 million

341,500,000

Business Acquisition, Revenue Reported by Acquired Entity for Last Annual Period

270,000,000

Proceeds from sale of business, net of cash divested

46,805,000

46,800,000

Gain (Loss) on Disposition of Business

13,403,000

13,400,000

Disposal Group, Including Discontinued Operation, Revenue

$8,200,000

StockBased_Compensation_Plans_1

Stock-Based Compensation Plans (Details) (USD $)	3 Months Ended
In Millions, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Jun. 22, 2014	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted during period	0
Plan 2010
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized to issue under share based compensation plans	8,700,000
Common stock available under stock option plan	4,310,368
Plan 2004
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Expired			827,835
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number	1,463,057			1,856,548
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	570,193
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value (less than $0.1 million during the three months ended September 30, 2014)	37.8	$32.90
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	49.5			30.6
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	2 years
Allocated Share-based Compensation Expense, Net of Tax	6	6.5
Allocated Share-based Compensation Expense	9.1	$9.90
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number	744,000
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period	3 years
Period for achieving performance targets on performance based units (years)	3
Vesting period	36 months
Minimum range of vesting provisions	0
Maximum range of vesting provisions	1,444,000
Estimated vesting of shares based on performance shares	909,000
Minimum \| Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	0.00%
Maximum \| Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	200.00%

StockBased_Compensation_Plans_2

Stock-Based Compensation Plans (Information Regarding Restricted Shares) (Details) (Restricted Stock, USD $)	3 Months Ended
	Mar. 31, 2015
Restricted Stock
Shares
Outstanding, Shares, Beginning balance	1,856,548
Vested, Shares	-892,407
Cancelled, Shares	-71,277
Outstanding, Shares, Ending balance	1,463,057
Weighted Average Grant-Date Fair Value
Outstanding, Weighted Average Grant-Date Fair Value, Beginning balance	$52.29
Granted, Weighted Average Grant-Date Fair Value	$56.07
Vested, Weighted Average Grant-Date Fair Value	$42.31
Cancelled, Weighted Average Grant-Date Fair Value	$60.62
Outstanding, Weighted Average Grant-Date Fair Value, Ending balance	$59.44

Derivative_Instruments_and_Hed2

Derivative Instruments and Hedges (Details Textual)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2015	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2015	Dec. 31, 2014	Mar. 17, 2015	Mar. 17, 2015
		Forward Exchange Contract [Member]	Interest Rate Swap	Interest Rate Swap	Designated as Hedging Instrument [Member]	Designated as Hedging Instrument [Member]	Not Designated as Hedging Instrument [Member]	Not Designated as Hedging Instrument [Member]	2022 EUR Senior Notes	2022 EUR Senior Notes
			USD ($)	USD ($)	Forward Exchange Contract [Member]	Forward Exchange Contract [Member]	Forward Exchange Contract [Member]	Forward Exchange Contract [Member]	USD ($)	EUR (€)
					USD ($)	USD ($)	USD ($)	USD ($)
Derivative [Line Items]
Designated Amount, Net Investment Hedge										€ 255.70
Derivative, notional amount			25	40	81	125.9	498.9	421.1
Lower maturity range		2 days
Higher maturity range		34 months
Maximum remaining length of interest rate swap contract	3 months
Debt Instrument, Face Amount									$500	€ 500

Derivative_Instruments_and_Hed3

Derivative Instruments and Hedges (Fair Value Balance Sheet Disclosures) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Not Designated as Hedging Instrument [Member] \| Foreign Exchange Contract [Member]
Derivative [Line Items]
Current derivative assets	$21,534	$11,709
Noncurrent derivative assets	15	6
Current derivative liabilities	15,212	6,168
Noncurrent derivative liabilities	435	348
Designated as Hedging Instrument [Member] \| Interest Rate Swaps and Foreign Exchange Contracts [Member]
Derivative [Line Items]
Current derivative liabilities	10,674	6,952
Noncurrent derivative liabilities	$846	$411

Derivative_Instruments_and_Hed4

Derivative Instruments and Hedges (Fair Value of Forward Exchange Contracts) (Details) (Not Designated as Hedging Instrument [Member], Forward Contracts [Member], USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Not Designated as Hedging Instrument [Member] \| Forward Contracts [Member]
Derivative [Line Items]
Gain recognized in income	$25,080	$1,544

Debt_Schedule_of_Debt_Details

Debt (Schedule of Debt) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Capital lease obligations and other borrowings	$29,300	$27,731
Debt and capital lease obligations	1,679,521	1,154,922
Less amounts due within one year	58,739	53,131
Total debt due after one year	1,620,782	1,101,791
2022 EUR Senior Notes
Debt Instrument [Line Items]
Long-term Debt	532,957	0
Stated interest rate (as a percent)	1.25%	0.00%
2023 Senior Notes
Debt Instrument [Line Items]
Long-term Debt	298,761	298,731
Stated interest rate (as a percent)	4.00%	4.00%
2022 Senior notes
Debt Instrument [Line Items]
Long-term Debt	498,503	498,460
Stated interest rate (as a percent)	3.50%	3.50%
Term Loan Facility
Debt Instrument [Line Items]
Term Loan Facility	$320,000	$330,000
Effective interest rate (as a percent)	1.52%	1.51%

Debt_Details_Textual

Debt (Details Textual)

0 Months Ended

3 Months Ended

Mar. 17, 2015

Mar. 31, 2015

Mar. 31, 2014

Mar. 31, 2015

Dec. 31, 2014

Mar. 31, 2015

Oct. 04, 2013

Mar. 31, 2015

Dec. 31, 2014

Oct. 04, 2013

Mar. 31, 2015

Dec. 31, 2014

Mar. 31, 2016

Dec. 31, 2015

Sep. 30, 2015

Jun. 30, 2015

Mar. 17, 2015

USD ($)

EUR (€)

USD ($)

Interest Rate Swap

Term Loan Facility

Revolving Credit Facility

Senior Credit Facility

2022 EUR Senior Notes

USD ($)

Scenario, Forecast

USD ($)

EUR (€)

USD ($)

Line of Credit Facility [Line Items]

Debt Instrument, Face Amount

$400,000,000

$500,000,000

€ 500,000,000

Line of Credit Facility, Maximum Borrowing Capacity

1,000,000,000

Revolving Credit Facility

Letters of credit outstanding

78,900,000

76,800,000

Line of Credit Facility, Current Borrowing Capacity

921,100,000

923,200,000

Line of credit, commitment fee (as a percentage)

0.18%

Payments on long-term debt

10,000,000

Credit Facilities Scheduled Repayments Due in Next Two Quarters

10,000,000

Credit Facilities Scheduled Repayments Due In the Fourth Quarter

15,000,000

Credit Facilities Scheduled Repayments Due In the First Quarter of Next Year

15,000,000

Derivative, notional amount

25,000,000

40,000,000

Domestic subsidiaries unconditional guarantee

100.00%

Debt Instrument, Interest Rate Terms

0.0125

Price of senior notes, stated as percentage of principal amount

99.34%

Proceeds from Issuance of Debt

$523,400,000

€ 494,000,000

Fair_Value_Details

Fair Value (Details) (USD $)	Mar. 31, 2015
In Millions, unless otherwise specified	Mar. 31, 2015
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	$1,330.20
Estimate of Fair Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	$1,345.40

Inventories_Details

Inventories (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Net Components of Inventory
Raw materials	$427,937	$352,928
Work in process	748,713	687,343
Finished goods	265,807	265,439
Less: Progress billings	-245,418	-230,058
Less: Excess and obsolete reserve	-78,099	-80,088
Inventories, net	$1,118,940	$995,564

Earnings_Per_Share_Details

Earnings Per Share (Details) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Calculation of net earnings per common share and weighted average common share outstanding
Net earnings of Flowserve Corporation	$27,666	$107,734
Dividends on restricted shares not expected to vest	3	3
Earnings attributable to common and participating shareholders	$27,669	$107,737
Weighted average shares:
Common stock	134,388,000	137,123,000
Participating securities	530,000	611,000
Denominator for basic earnings per common share	134,918,000	137,734,000
Effect of potentially dilutive securities	1,036,000	1,136,000
Denominator for diluted earnings per common share	135,954,000	138,870,000
Earnings per common share:
Basic (in dollars per share)	$0.21	$0.78
Diluted (in dollars per share)	$0.20	$0.78
Options to purchase common stock excluded from computation of dilutive securities	0	0

Legal_Matters_and_Contingencie1

Legal Matters and Contingencies (Details)	3 Months Ended
	Mar. 31, 2015
	site
Legal Matters and Contingencies
Number of former public waste disposal sites	5
Oil-for-Food Program [Member]
Legal Matters and Contingencies
Number of French companies for investigation (over 170)	170
Number of our French companies for investigation	1
Number of participants in U.N Oil-for-Food Program	93
Number of foreign subsidiaries	2

Retirement_and_Postretirement_2

Retirement and Postretirement Benefits (Details) (USD $)	3 Months Ended
Retirement and Postretirement Benefits (Details) (USD $)	Mar. 31, 2015	Mar. 31, 2014
U.S Defined Benefit Plans [Member]
Components of the net periodic cost for retirement and postretirement benefits
Service cost	$6,200,000	$5,700,000
Interest cost	4,300,000	4,400,000
Expected return on plan assets	-6,100,000	-5,500,000
Amortization of prior service cost	100,000	100,000
Amortization of unrecognized net loss (gain)	2,300,000	2,000,000
Net periodic cost (benefit) recognized	6,800,000	6,700,000
Non-U.S Defined Benefit Plans [Member]
Components of the net periodic cost for retirement and postretirement benefits
Service cost	2,200,000	1,700,000
Interest cost	3,300,000	3,700,000
Expected return on plan assets	-3,000,000	-2,700,000
Amortization of prior service cost	0	100,000
Amortization of unrecognized net loss (gain)	1,300,000	1,700,000
Net periodic cost (benefit) recognized	3,800,000	4,500,000
Postretirement Medical Benefits [Member]
Components of the net periodic cost for retirement and postretirement benefits
Service cost	0	0
Interest cost	300,000	300,000
Expected return on plan assets	0	0
Amortization of prior service cost	0	0
Amortization of unrecognized net loss (gain)	-100,000	-400,000
Net periodic cost (benefit) recognized	$200,000	($100,000)

Shareholders_Equity_Details

Shareholders' Equity (Details) (USD $)	3 Months Ended		0 Months Ended
In Millions, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Feb. 16, 2015	Feb. 17, 2014	Nov. 13, 2014	Nov. 12, 2014
Equity, Class of Treasury Stock [Line Items]
Dividends on Common Stock	$0.18	$0.16
Remaining authorized repurchase capacity	$384.50
Repurchase of shares	1,382,025	1,436,423
Repurchases of shares, value	79.9	109.6
Share repurchase program 2013
Equity, Class of Treasury Stock [Line Items]
Authorized amount to be repurchased					500	750
Share Repurchase Program 2012
Equity, Class of Treasury Stock [Line Items]
Remaining authorized repurchase capacity					$175
Minimum
Equity, Class of Treasury Stock [Line Items]
Dividends on Common Stock			$0.16	$0.14
Maximum
Equity, Class of Treasury Stock [Line Items]
Dividends on Common Stock			$0.18	$0.16

Income_Taxes_Details

Income Taxes (Details) (USD $)	3 Months Ended
Income Taxes (Details) (USD $)	Mar. 31, 2015	Mar. 31, 2014
Income Tax Disclosure [Abstract]
Income before income tax	$58,151,000	$146,603,000
Provision for income taxes	28,506,000	38,015,000
Effective tax rate	49.00%	25.90%
Change in unrecognized tax benefits for the period	8,100,000
Unrecognized tax benefits approximate amount of estimated reduction within the next twelve months	$11,000,000

Segment_Information_Details

Segment Information (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Summarized financial information of the reportable segments
Sales	$1,014,620	$1,068,136
Segment operating income	93,376	164,326
Intersegment sales [Member]
Summarized financial information of the reportable segments
Sales	0	0
Engineered Product Division
Summarized financial information of the reportable segments
Sales	473,413	510,311
Segment operating income	68,828	81,353
Engineered Product Division \| Intersegment sales [Member]
Summarized financial information of the reportable segments
Sales	10,747	13,785
Industrial Product Division
Summarized financial information of the reportable segments
Sales	214,711	175,994
Segment operating income	-13,338	18,788
Industrial Product Division \| Intersegment sales [Member]
Summarized financial information of the reportable segments
Sales	8,655	10,190
Flow Control Division [Member]
Summarized financial information of the reportable segments
Sales	326,496	381,831
Segment operating income	54,715	83,133
Flow Control Division [Member] \| Intersegment sales [Member]
Summarized financial information of the reportable segments
Sales	667	1,107
Subtotal-Reportable Segments [Member]
Summarized financial information of the reportable segments
Sales	1,014,620	1,068,136
Segment operating income	110,205	183,274
Subtotal-Reportable Segments [Member] \| Intersegment sales [Member]
Summarized financial information of the reportable segments
Sales	20,069	25,082
Eliminations and All Other [Member]
Summarized financial information of the reportable segments
Sales	0	0
Segment operating income	-16,829	-18,948
Eliminations and All Other [Member] \| Intersegment sales [Member]
Summarized financial information of the reportable segments
Sales	($20,069)	($25,082)

Accumulated_Other_Comprehensiv2

Accumulated Other Comprehensive Loss (Components of AOCI) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015		Mar. 31, 2014		Dec. 31, 2014	Dec. 31, 2013
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	($379,141,000)	[1]	($220,295,000)	[1]
Other comprehensive (loss) income before reclassifications	-109,286,000	[1]	-2,187,000	[1]
Amounts reclassified from AOCL	5,597,000	[1]	8,085,000	[1]
Net current-period other comprehensive (loss) income	-103,689,000	[1]	5,898,000	[1]
Ending balance	-482,830,000	[1]	-214,397,000	[1]
Interest Rate Cash Flow Hedge Loss to be Reclassified During Next 12 Months, Net	7,100,000
Accumulated Other Comprehensive Income (Loss), accumulated Net Gain (Loss) from Net investment hedge	2,100,000
Noncontrolling Interest [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax	-1,300,000		1,400,000		1,300,000	1,200,000
Foreign currency translation items [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	-238,533,000	[1]	-89,953,000	[1]
Other comprehensive (loss) income before reclassifications	-106,434,000	[1]	-2,509,000	[1]
Amounts reclassified from AOCL	0	[1]	5,460,000	[1]
Net current-period other comprehensive (loss) income	-106,434,000	[1]	2,951,000	[1]
Ending balance	-344,967,000	[1]	-87,002,000	[1]
Pension and other postretirement effects [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	-135,398,000		-129,528,000
Other comprehensive (loss) income before reclassifications	5,501,000		298,000
Amounts reclassified from AOCL	2,390,000		2,481,000
Net current-period other comprehensive (loss) income	7,891,000		2,779,000
Ending balance	-127,507,000		-126,749,000
Cash flow hedging activity [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	-5,210,000		-814,000
Other comprehensive (loss) income before reclassifications	-8,353,000		24,000
Amounts reclassified from AOCL	3,207,000		144,000
Net current-period other comprehensive (loss) income	-5,146,000		168,000
Ending balance	($10,356,000)		($646,000)

[1]	Includes foreign currency translation adjustments attributable to noncontrolling interests of $1.3 million and $1.2 million at January 1, 2015 and 2014 and $1.3 million and $1.4 million at MarchÂ 31, 2015 and 2014. Includes accumulated net investment hedge losses of $2.1 million, net of deferred taxes, at March 31, 2015. Amounts in parentheses indicate debits.

Accumulated_Other_Comprehensiv3

Accumulated Other Comprehensive Loss (Reclassifications out of AOCI) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015		Mar. 31, 2014
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other expense, net	($19,946)		($2,905)
Sales	1,014,620		1,068,136
Tax (expense) or benefit	-28,506		-38,015
Net earnings attributable to Flowserve Corporation	27,666		107,734
Foreign currency translation items [Member] \| Reclassification out of AOCI [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Divestiture Of Businesses OCIL Foreign Currency Transaction And Translation Adjustment Before Tax	0	[1]	-5,460	[1]
Tax (expense) or benefit	0	[1]	0	[1]
Net earnings attributable to Flowserve Corporation	0	[1]	-5,460	[1]
Cash flow hedging activity [Member] \| Reclassification out of AOCI [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other expense, net	-3,327	[1]	0	[1]
Sales	-1,182	[1]	-230	[1]
Tax (expense) or benefit	1,302	[1]	86	[1]
Net earnings attributable to Flowserve Corporation	-3,207	[1]	-144	[1]
Pension and other postretirement effects [Member] \| Reclassification out of AOCI [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amortization of actuarial losses	-3,424	[1]	-3,427	[1]
Prior service costs	-156	[1],[2]	-118	[1],[2]
Tax (expense) or benefit	1,190	[1]	1,064	[1]
Net earnings attributable to Flowserve Corporation	($2,390)	[1]	($2,481)	[1]

[1]	Amounts in parentheses indicate decreases to income. None of the reclass amounts have a noncontrolling interest component.
[2]	These accumulated other comprehensive loss components are included in the computation of net periodic pension cost. See Note 10 for additional details.

Realignment_Program_Details

Realignment Program (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2015	Dec. 31, 2014
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	$1
Restructuring Reserve		21.2	1.1
2015 Realignment Program
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost		39
Restructuring and Related Cost, Incurred Cost		26.3
2015 Realignment Program \| Income Tax Expense
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost		5
2015 Realignment Program \| IPD
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost		20.6
2015 Realignment Program \| EPD
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost		$0.60