Flowserve (FLS) 10-Q 30 Jul 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Jul. 22, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	FLOWSERVE CORP
Entity Central Index Key	30,625
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Amendment Flag	false
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		133,368,108

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Statement [Abstract]
Sales	$ 1,162,247	$ 1,224,378	$ 2,176,867	$ 2,292,514
Cost of sales	(793,155)	(794,072)	(1,476,045)	(1,485,086)
Gross profit	369,092	430,306	700,822	807,428
Selling, general and administrative expense	(243,594)	(238,178)	(483,521)	(454,405)
Net earnings from affiliates	2,079	2,187	3,652	5,617
Operating income	127,577	194,315	220,953	358,640
Interest expense	(15,392)	(15,027)	(31,429)	(30,176)
Interest income	249	507	1,006	838
Other expense, net	(4,882)	(3,836)	(24,828)	(6,741)
Earnings before income taxes	107,552	175,959	165,702	322,561
Provision for income taxes	(30,920)	(50,794)	(59,426)	(88,809)
Net earnings, including noncontrolling interests	76,632	125,165	106,276	233,752
Less: Net earnings attributable to noncontrolling interests	(1,624)	(1,652)	(3,602)	(2,505)
Net earnings attributable to Flowserve Corporation	$ 75,008	$ 123,513	$ 102,674	$ 231,247
Net earnings per share attributable to Flowserve Corporation common shareholders:
Basic (in dollars per share)	$ 0.56	$ 0.90	$ 0.76	$ 1.68
Diluted (in dollars per share)	0.56	0.90	0.76	1.67
Cash dividends declared per share (in dollars per share)	$ 0.18	$ 0.16	$ 0.36	$ 0.32

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Statement of Comprehensive Income [Abstract]
Net earnings, including noncontrolling interests	$ 76,632	$ 125,165	$ 106,276	$ 233,752
Other comprehensive income:
Foreign currency translation adjustments, net of taxes of $55,400 and $(6,451), respectively	13,666	7,782	(92,768)	10,733
Pension and other postretirement effects, net of taxes of $(3,525) and $(1,757), respectively	1,780	1,463	9,671	4,242
Cash flow hedging activity, net of taxes of $445 and $(58), respectively	3,427	(65)	(1,719)	103
Other comprehensive income	18,873	9,180	(84,816)	15,078
Comprehensive income, including noncontrolling interests	95,505	134,345	21,460	248,830
Comprehensive income attributable to noncontrolling interests	(3,059)	(1,651)	(5,056)	(2,682)
Comprehensive income attributable to Flowserve Corporation	$ 92,446	$ 132,694	$ 16,404	$ 246,148

Condensed Consolidated Stateme4

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Statement of Comprehensive Income [Abstract]
Foreign currency translation, taxes	$ (8,161)	$ (4,677)	$ 55,400	$ (6,451)
Pension and other postretirement effects, taxes	(134)	(819)	(3,525)	(1,757)
Cash flow hedging activity, taxes	$ (1,582)	$ 12	$ 445	$ (58)

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 315,304	$ 450,350
Accounts receivable, net of allowance for doubtful accounts of $31,729 and $25,469, respectively	1,042,404	1,082,447
Inventories, net	1,129,695	995,564
Deferred taxes	153,395	158,912
Prepaid expenses and other	138,142	106,890
Total current assets	2,778,940	2,794,163
Property, plant and equipment, net of accumulated depreciation of $844,655 and $836,981, respectively	767,904	693,881
Goodwill	1,236,374	1,067,255
Deferred taxes	27,047	31,419
Other intangible assets, net	242,671	146,337
Other assets, net	259,186	234,965
Total assets	5,312,122	4,968,020
Current liabilities:
Accounts payable	502,969	611,715
Accrued liabilities	781,812	794,072
Debt due within one year	67,365	53,131
Deferred taxes	13,272	12,957
Total current liabilities	1,365,418	1,471,875
Long-term debt due after one year	1,626,150	1,101,791
Retirement obligations and other liabilities	536,641	452,511
Shareholders’ 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	478,629	495,600
Retained earnings	3,469,687	3,415,738
Treasury shares, at cost – 44,200 and 42,444 shares, respectively	(1,945,235)	(1,830,919)
Deferred compensation obligation	11,180	10,558
Accumulated other comprehensive loss	(466,676)	(380,406)
Total Flowserve Corporation shareholders’ equity	1,768,576	1,931,562
Noncontrolling interests	15,337	10,281
Total equity	1,783,913	1,941,843
Total liabilities and equity	$ 5,312,122	$ 4,968,020

Condensed Consolidated Balance6

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Current assets:
Allowance for doubtful accounts	$ 31,729	$ 25,469
Accumulated depreciation on property, plant and equipment	$ 844,655	$ 836,981
Shareholders’ 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	44,200,000	42,444,000

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash flows – Operating activities:
Net earnings, including noncontrolling interests	$ 106,276	$ 233,752
Adjustments to reconcile net earnings to net cash used by operating activities:
Depreciation	49,270	46,316
Amortization of intangible and other assets	17,833	9,327
Gain on sale of business	0	(13,403)
Excess tax benefits from stock-based payment arrangements	(5,858)	(8,490)
Stock-based compensation	17,396	18,272
Foreign currency and other non-cash adjustments	49,794	11,489
Change in assets and liabilities, net of acquisition:
Accounts receivable, net	45,376	(14,695)
Inventories, net	(113,005)	(115,109)
Prepaid expenses and other	(2,017)	(8,038)
Other assets, net	(22,435)	(1,692)
Accounts payable	(124,001)	(85,599)
Accrued liabilities and income taxes payable	(24,471)	(86,059)
Retirement obligations and other liabilities	7,003	(5)
Net deferred taxes	16,903	2,667
Net cash flows provided (used) by operating activities	18,064	(11,267)
Cash flows – Investing activities:
Capital expenditures	(113,794)	(53,666)
Payments for acquisition, net of cash acquired	(341,545)	0
Proceeds from disposal of assets	1,872	789
Proceeds from sale of business, net of cash divested	0	46,805
Net cash flows used by investing activities	(453,467)	(6,072)
Cash flows – Financing activities:
Excess tax benefits from stock-based payment arrangements	5,858	8,490
Payments on long-term debt	(20,000)	(20,000)
Proceeds from issuance of senior notes	526,332	0
Payments of deferred loan cost	(5,108)	0
Proceeds under other financing arrangements	2,902	13,233
Payments under other financing arrangements	(7,631)	(4,789)
Repurchases of common shares	(139,644)	(153,068)
Payments of dividends	(45,928)	(41,382)
Other	160	(2,499)
Net cash flows provided (used) by financing activities	316,941	(200,015)
Effect of exchange rate changes on cash	(16,584)	(2,881)
Net change in cash and cash equivalents	(135,046)	(220,235)
Cash and cash equivalents at beginning of period	450,350	363,804
Cash and cash equivalents at end of period	$ 315,304	$ 143,569

Basis of Presentation and Accou

Basis of Presentation and Accounting Policies	6 Months Ended
	Jun. 30, 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 June 30, 2015 , the related condensed consolidated statements of income and comprehensive income for the three and six months ended June 30, 2015 and 2014 , and the condensed consolidated statements of cash flows for the six months ended June 30, 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 June 30, 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 audited consolidated financial statements presented in our Annual Report on Form 10-K for the year ended December 31, 2014 (" 2014 Annual Report"). Venezuela – Our operations in Venezuela primarily consist of a service center that performs service and repair activities. Our Venezuelan subsidiary's sales for the three and six months ended June 30, 2015 represented less than 0.5% of consolidated sales and its assets at June 30, 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 June 30, 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 8% of our gross accounts receivable at June 30, 2015 . Given the experienced delays in collecting payments we estimate that approximately 58% 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 June 30, 2015 condensed consolidated balance sheet as compared to 48% at December 31, 2014. 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 June 30, 2015 the SICAD I exchange rate was 12.8 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 June 30, 2015 , the SIMADI exchange rate was 197 bolivars to the U.S. dollar. As of March 31, 2015, we 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, in the first quarter of 2015 we recognized a loss of $20.6 million 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 six months ended June 30, 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, as of January 1, 2015, did not have an impact on our consolidated financial condition and results of operations. In May 2015, the FASB issued ASU No. 2015-08, "Business Combinations (Topic 805), Pushdown Accounting - Amendments to SEC Paragraphs Pursuant to Staff Accounting Bulletin No. 115." This ASU amends various U.S. Securities and Exchange Commission ("SEC") paragraphs pursuant to the issuance Staff Accounting Bulletin No. 115. The amendments conforms the Board’s guidance on pushdown accounting to that of the SEC. We adopted the amendments of this ASU immediately and it 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. In July 2015 the FASB voted to delay the effective date of ASU 2014-09 by one year. As a result, public entities will apply the new standard for annual reporting periods beginning after December 15, 2017, including interim periods within those reporting periods. Early adoption as of the original public entity effective date is permitted. 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. In April 2015, the FASB issued ASU No. 2015-05, "Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement." The ASU provides explicit guidance about a customer's accounting for fees paid in connection with a cloud computing arrangements. ASU 2015-05 is effective for periods beginning after December 15, 2015. Early adoption is permitted. The adoption of ASU No. 2015-05 is not expected to have a material impact on our consolidated financial condition and results of operations. In May 2015, the FASB issued ASU No. 2015-07, "Fair Value Measurement (Topic 820): Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent) (a consensus of the Emerging Issues Task Force)." The ASU removes the requirement to categorize all investments for which fair value is measured using the net asset value per share practical expedient within the fair value hierarchy. ASU 2015-07 is effective for periods beginning after December 15, 2015. Early adoption is permitted. The adoption of ASU No. 2015-07 is not expected to have an impact on our consolidated financial condition and results of operations.

Acquisition and Disposition

Acquisition and Disposition	6 Months Ended
	Jun. 30, 2015
Business Combinations [Abstract]
Acquisition and Disposition	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. During the first quarter of 2015, the fair value of assets acquired and liabilities assumed was recorded on a preliminary basis. During the second quarter of 2015, we recorded measurement period adjustments, primarily related to the revision of the estimated fair value of our investment in an unconsolidated joint venture, and other reclassifications that had no net impact on goodwill. These adjustments were made to the preliminary amounts recognized to reflect new information obtained about facts and circumstances that existed as of the acquisition date, that if known, would have affected the measurements of the amounts recognized at that date. The allocation of the purchase price, including the above mentioned measurement period adjustments, is summarized below: January 7, 2015 (As originally reported) Measurement Period Adjustments January 7, 2015 (As adjusted) (Amounts in millions) Accounts receivable $ 56.2 $ 3.1 $ 59.3 Inventories 74.0 — 74.0 Prepaid expenses and other 17.2 0.5 17.7 Total current assets 147.4 3.6 151.0 Intangible assets Trademarks 20.9 — 20.9 Existing customer relationships 45.3 — 45.3 Backlog 8.5 — 8.5 Engineering drawings and other 3.9 — 3.9 Total intangible assets 78.6 — 78.6 Property, plant and equipment 87.5 7.0 94.5 Long-term deferred tax asset 10.7 1.0 11.7 Investments in affiliates 11.6 (4.3 ) 7.3 Total assets 335.8 7.3 343.1 Current liabilities (87.0 ) (1.0 ) (88.0 ) Noncurrent liabilities (101.7 ) (13.0 ) (114.7 ) Net assets 147.1 (6.7 ) 140.4 Goodwill 194.4 6.7 201.1 Purchase price, net of cash acquired of $23.4 million $ 341.5 $ — $ 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 $201.1 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 $77.2 million and $144.1 million and decreased net earnings by approximately $13.5 million and $37.9 million for the three and six months ended June 30, 2015 , respectively. 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.

Stock-Based Compensation Plans

Stock-Based Compensation Plans	6 Months Ended
	Jun. 30, 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, 4,251,797 were available for issuance as of June 30, 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 $44.3 million and $30.6 million at June 30, 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 June 30, 2015 and 2014 was $1.6 million and $1.5 million , respectively. The total fair value of Restricted Shares vested during the six months ended June 30, 2015 and 2014 was $39.3 million and $34.4 million , respectively We recorded stock-based compensation expense of $5.5 million ( $8.3 million pre-tax) and $5.5 million ( $8.4 million pre-tax) for the three months ended June 30, 2015 and 2014 , respectively. We recorded stock-based compensation expense of $11.5 million ( $17.4 million pre-tax) and $12.0 million ( $18.3 million pre-tax) for the six months ended June 30, 2015 and 2014 , respectively. The following table summarizes information regarding Restricted Shares: Six Months Ended June 30, 2015 Shares Weighted Average Grant-Date Fair Value Number of unvested shares: Outstanding - January 1, 2015 1,856,548 $ 52.29 Granted 648,819 55.86 Vested (918,148 ) 42.84 Canceled (97,235 ) 60.77 Outstanding - June 30, 2015 1,489,984 $ 59.12 Unvested Restricted Shares outstanding as of June 30, 2015 , includes approximately 732,000 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 1,421,000 shares based on performance targets. As of June 30, 2015 , we estimate vesting of approximately 893,000 shares based on expected achievement of performance targets.

Derivative Instruments and Hedg

Derivative Instruments and Hedges	6 Months Ended
	Jun. 30, 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 June 30, 2015 . Foreign exchange contracts designated as hedging instruments had a notional value of $69.6 million and $125.9 million , at June 30, 2015 and December 31, 2014 , respectively. Foreign exchange contracts with third parties not designated as hedging instruments had a notional value of $503.2 million and $421.1 million , at June 30, 2015 and December 31, 2014 , respectively. At June 30, 2015 , the length of foreign exchange contracts currently in place ranged from eight days to 30 months . Previously, as part of our risk management program, we entered into interest rate swap agreements to hedge exposure to floating interest rates on certain portions of our debt. At June 30, 2015 we had no notional amount in outstanding interest rate swaps with third parties, compared to $40.0 million as of December 31, 2014 . 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: June 30, December 31, (Amounts in thousands) 2015 2014 Current derivative assets $ 2,517 $ 11,709 Noncurrent derivative assets 9 6 Current derivative liabilities 4,758 6,168 Noncurrent derivative liabilities 311 348 The fair value of interest rate swaps and foreign exchange contracts designated as hedging instruments are summarized below: June 30, December 31, (Amounts in thousands) 2015 2014 Current derivative assets $ 152 $ — Current derivative liabilities $ 6,467 $ 6,952 Noncurrent derivative liabilities 61 411 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 June 30, Six Months Ended June 30, (Amounts in thousands) 2015 2014 2015 2014 Gain (loss) recognized in income $ 1,901 $ (1,421 ) $ 26,981 $ 123 Gains and losses recognized in our condensed consolidated statements of income for foreign exchange contracts are classified as other expense, net. 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 and six months months ended June 30, 2015 .

Debt

Debt	6 Months Ended
	Jun. 30, 2015
Debt Instrument [Line Items]
Debt	Debt Debt, including capital lease obligations, consisted of: June 30, December 31, (Amounts in thousands, except percentages) 2015 2014 1.25% EUR Senior Notes due March 17, 2022, net of unamortized discount $ 553,199 $ — 4.00% USD Senior Notes due November 15, 2023, net of unamortized discount 298,791 298,731 3.50% USD Senior Notes due September 15, 2022, net of unamortized discount 498,547 498,460 Term Loan Facility, interest rate of 1.25% at June 30, 2015 and 1.51% at December 31, 2014 310,000 330,000 Capital lease obligations and other borrowings 32,978 27,731 Debt and capital lease obligations 1,693,515 1,154,922 Less amounts due within one year 67,365 53,131 Total debt due after one year $ 1,626,150 $ 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 proceeds of the offering were €496.7 million ( $526.3 million based on exchange rates in effect at the time the offering closed). We used a portion of the 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, our credit agreement provides 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 June 30, 2015 and December 31, 2014 , we had no amounts outstanding under the Revolving Credit Facility. We had outstanding letters of credit of $85.5 million and $76.8 million at June 30, 2015 and December 31, 2014 , respectively, which reduced our borrowing capacity to $914.5 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 June 30, 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 June 30, 2015 . During the six months ended June 30, 2015 , we made scheduled repayments of $20.0 million under our Term Loan Facility. We have scheduled repayments of $10.0 million due in the next quarter, $15.0 million in the fourth quarter of 2015 and $15.0 million in the first and second quarters of 2016 on our Term Loan Facility. 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 Senior Credit Facility and the indentures governing the Senior Notes, any guarantees on our obligations 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	6 Months Ended
	Jun. 30, 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 June 30, 2015 was $1,331.2 million compared to the carrying value of $1,350.5 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 June 30, 2015 and December 31, 2014 .
Fair Value of Financial Instruments, Policy [Policy Text Block]	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.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2015
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories, net consisted of the following: June 30, December 31, (Amounts in thousands) 2015 2014 Raw materials $ 435,902 $ 352,928 Work in process 773,981 687,343 Finished goods 247,512 265,439 Less: Progress billings (246,543 ) (230,058 ) Less: Excess and obsolete reserve (81,157 ) (80,088 ) Inventories, net $ 1,129,695 $ 995,564

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 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 June 30, (Amounts in thousands, except per share data) 2015 2014 Net earnings of Flowserve Corporation $ 75,008 $ 123,513 Dividends on restricted shares not expected to vest 3 3 Earnings attributable to common and participating shareholders $ 75,011 $ 123,516 Weighted average shares: Common stock 133,742 136,613 Participating securities 495 573 Denominator for basic earnings per common share 134,237 137,186 Effect of potentially dilutive securities 594 809 Denominator for diluted earnings per common share 134,831 137,995 Earnings per common share: Basic $ 0.56 $ 0.90 Diluted 0.56 0.90 Six Months Ended June 30, (Amounts in thousands, except per share data) 2015 2014 Net earnings of Flowserve Corporation $ 102,674 $ 231,247 Dividends on restricted shares not expected to vest 6 6 Earnings attributable to common and participating shareholders $ 102,680 $ 231,253 Weighted average shares: Common stock 134,065 136,868 Participating securities 513 592 Denominator for basic earnings per common share 134,578 137,460 Effect of potentially dilutive securities 815 972 Denominator for diluted earnings per common share 135,393 138,432 Earnings per common share: Basic $ 0.76 $ 1.68 Diluted 0.76 1.67 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.

Legal Matters and Contingencies

Legal Matters and Contingencies	6 Months Ended
	Jun. 30, 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. Hearings occurred on April 1-2, 2015, and the Company presented its defense and closing arguments. On June 18, 2015, the French court issued its ruling dismissing the case against the Company and the other defendants. However, on July 1, 2015, the French prosecutor lodged an appeal. 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. 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. As previously disclosed in our 2014 Annual Report, we terminated an employee of an overseas subsidiary after uncovering actions that violated our Code of Business Conduct and may have violated the Foreign Corrupt Practices Act. We have completed our internal investigation into the matter, self-reported the potential violation to the United States Department of Justice (the “DOJ”) and the SEC, and are continuing to cooperate with the DOJ and SEC. We recently received a subpoena from the SEC requesting additional information and documentation related to the matter and are in the process of responding. We currently believe that this matter will not have a material adverse financial impact on the Company, but there can be no assurance that the Company will not be subjected to monetary penalties and additional costs. 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 B

Retirement and Postretirement Benefits	6 Months Ended
	Jun. 30, 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 June 30, 2015 and 2014 were as follows: U.S. Defined Benefit Plans Non-U.S. Defined Benefit Plans Postretirement Medical Benefits (Amounts in millions) 2015 2014 2015 2014 2015 2014 Service cost $ 5.9 $ 5.8 $ 2.0 $ 1.8 $ — $ — Interest cost 4.2 4.3 2.9 3.7 0.3 0.3 Expected return on plan assets (6.0 ) (5.5 ) (3.0 ) (2.6 ) — — Amortization of prior service cost 0.1 0.1 — — 0.1 — Amortization of unrecognized net loss (gain) 2.3 2.2 1.3 1.7 (0.2 ) (0.2 ) Net periodic cost recognized $ 6.5 $ 6.9 $ 3.2 $ 4.6 $ 0.2 $ 0.1 Components of the net periodic cost for retirement and postretirement benefits for the six months ended June 30, 2015 and 2014 were as follows: U.S. Defined Benefit Plans Non-U.S. Defined Benefit Plans Postretirement Medical Benefits (Amounts in millions) 2015 2014 2015 2014 2015 2014 Service cost $ 12.1 $ 11.5 $ 4.2 $ 3.5 $ — $ — Interest cost 8.5 8.7 6.2 7.4 0.6 0.6 Expected return on plan assets (12.1 ) (11.0 ) (6.0 ) (5.3 ) — — Amortization of prior service cost 0.2 0.2 — 0.1 0.1 — Amortization of unrecognized net loss (gain) 4.6 4.2 2.6 3.4 (0.3 ) (0.6 ) Net periodic cost recognized $ 13.3 $ 13.6 $ 7.0 $ 9.1 $ 0.4 $ —

Shareholders' Equity

Shareholders' Equity	6 Months Ended
	Jun. 30, 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 1,072,421 shares of our outstanding common stock for $59.7 million , and 573,881 shares for $43.5 million , during the three months ended June 30, 2015 and 2014 , respectively. We repurchased 2,454,446 shares of our outstanding common stock for $139.6 million , and 2,010,304 shares for $153.1 million , during the six months ended June 30, 2015 and 2014 , respectively. As of June 30, 2015 , we have $324.8 million of remaining capacity under our current share repurchase program.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the three months ended June 30, 2015 , we earned $107.6 million before taxes and provided for income taxes of $30.9 million resulting in an effective tax rate of 28.7% . For the six months ended June 30, 2015 , we earned $165.7 million before taxes and provided for income taxes of $59.4 million resulting in an effective tax rate of 35.9% . The effective tax rate varied from the U.S. federal statutory rate for the three months ended June 30, 2015 primarily due to the net impact of foreign operations. The effective tax rate varied from the U.S. federal statutory rate for the six months ended June 30, 2015 primarily due to tax impacts of the realignment programs and the Venezuelan exchange rate remeasurement loss, partially offset by the net impact of foreign operations. For the three months ended June 30, 2014 , we earned $176.0 million before taxes and provided for income taxes of $50.8 million , resulting in an effective tax rate of 28.9% . For the six months ended June 30, 2014 , we earned $322.6 million before taxes and provided for income taxes of $88.8 million , resulting in an effective tax rate of 27.5% . The effective tax rate varied from the U.S. federal statutory rate for the three and six months ended June 30, 2014 primarily due to the net impact of foreign operations. As of June 30, 2015 , the amount of unrecognized tax benefits increased by $11.2 million from December 31, 2014 . With limited exception, we are no longer subject to U.S. federal income tax audits for years through 2013, state and local income tax audits for years through 2009 or non-U.S. income tax audits for years through 2008. We are currently under examination for various years in Austria, France, 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 $10 million within the next 12 months.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 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 June 30, 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 $ 558,334 $ 248,659 $ 355,254 $ 1,162,247 $ — $ 1,162,247 Intersegment sales 12,431 12,156 1,111 25,698 (25,698 ) — Segment operating income 86,227 7,070 54,489 147,786 (20,209 ) 127,577 Three Months Ended June 30, 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 $ 626,380 $ 193,382 $ 404,616 $ 1,224,378 $ — $ 1,224,378 Intersegment sales 13,824 10,449 1,769 26,042 (26,042 ) — Segment operating income 108,771 30,176 79,129 218,076 (23,761 ) 194,315 Six Months Ended June 30, 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 $ 1,031,747 $ 463,371 $ 681,749 $ 2,176,867 $ — $ 2,176,867 Intersegment sales 23,177 20,812 1,778 45,767 (45,767 ) — Segment operating income (loss) 155,056 (6,269 ) 109,204 257,991 (37,038 ) 220,953 Six Months Ended June 30, 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 $ 1,136,691 $ 369,376 $ 786,447 $ 2,292,514 $ — $ 2,292,514 Intersegment sales 27,609 20,639 2,877 51,125 (51,125 ) — Segment operating income 190,136 48,964 162,262 401,362 (42,722 ) 358,640

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss		6 Months Ended
		Jun. 30, 2015
Equity [Abstract]
Accumulated Other Comprehensive Loss	[1],[2],[3],[4],[5],[6]	Accumulated Other Comprehensive Loss The following table presents the changes in accumulated other comprehensive loss ("AOCL"), net of tax for the three months ended June 30, 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 - April 1 $ (344,967 ) $ (127,507 ) $ (10,356 ) $ (482,830 ) $ (87,002 ) $ (126,749 ) $ (646 ) $ (214,397 ) Other comprehensive income (loss) before reclassifications 13,666 (675 ) 1,648 14,639 7,782 (1,193 ) (167 ) 6,422 Amounts reclassified from AOCL — 2,455 1,779 4,234 — 2,656 102 2,758 Net current-period other comprehensive income (loss) 13,666 1,780 3,427 18,873 7,782 1,463 (65 ) 9,180 Balance - June 30 $ (331,301 ) $ (125,727 ) $ (6,929 ) $ (463,957 ) $ (79,220 ) $ (125,286 ) $ (711 ) $ (205,217 ) _______________________________________ (1) Includes foreign currency translation adjustments attributable to noncontrolling interests of $1.3 million and $1.4 million at April 1, 2015 and 2014, $2.7 million and $1.4 million at June 30, 2015 and 2014 , respectively. Includes net investment hedge losses of $6.5 million , net of deferred taxes, for the three months ended June 30, 2015 . Amounts in parentheses indicate debits. The following table presents the reclassifications out of AOCL: Three Months Ended June 30, (Amounts in thousands) Affected line item in the statement of income 2015(1) 2014(1) Cash flow hedging activity Foreign exchange contracts Sales $ (2,522 ) $ (161 ) Tax benefit 743 59 Net of tax $ (1,779 ) $ (102 ) Pension and other postretirement effects Amortization of actuarial losses(2) $ (3,507 ) $ (3,605 ) Prior service costs(2) (156 ) (221 ) Tax benefit 1,208 1,170 Net of tax $ (2,455 ) $ (2,656 ) _______________________________________ (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. The following table presents the changes in accumulated other comprehensive loss ("AOCL"), net of tax for the six months ended June 30, 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 (92,768 ) 4,785 (6,705 ) (94,688 ) 5,273 (894 ) (143 ) 4,236 Amounts reclassified from AOCL — 4,886 4,986 9,872 5,460 5,136 246 10,842 Net current-period other comprehensive (loss) income (92,768 ) 9,671 (1,719 ) (84,816 ) 10,733 4,242 103 15,078 Balance - June 30 $ (331,301 ) $ (125,727 ) $ (6,929 ) $ (463,957 ) $ (79,220 ) $ (125,286 ) $ (711 ) $ (205,217 ) _______________________________________ (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 $2.7 million and $1.4 million at June 30, 2015 and 2014 , respectively. Includes net investment hedge losses of $8.6 million , net of deferred taxes, for the six months ended June 30, 2015 . Amounts in parentheses indicate debits. The following table presents the reclassifications out of AOCL: Six Months Ended June 30, (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 ) Tax benefit — — Net of tax $ — $ (5,460 ) Cash flow hedging activity Foreign exchange contracts Other expense, net $ (3,327 ) $ — Sales (3,704 ) (391 ) Tax benefit 2,045 145 Net of tax $ (4,986 ) $ (246 ) Pension and other postretirement effects Amortization of actuarial losses(2) $ (6,931 ) $ (7,031 ) Prior service costs(2) (354 ) (339 ) Tax benefit 2,399 2,234 Net of tax $ (4,886 ) $ (5,136 ) _______________________________________ (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 June 30, 2015 , we expect to recognize a loss of $4.6 million , net of deferred taxes, into earnings in the next twelve months related to designated cash flow hedges based on their fair values at June 30, 2015 .
[1]	Amounts in parentheses indicate decreases to income. None of the reclass amounts have a noncontrolling interest component.
[2]	Amounts in parentheses indicate decreases to income. None of the reclass amounts have a noncontrolling interest component.
[3]	Includes foreign currency translation adjustments attributable to noncontrolling interests of $1.3 million and $1.2 million at January 1, 2015 and 2014 and $2.7 million and $1.4 million at June 30, 2015 and 2014, respectively. Includes net investment hedge losses of $8.6 million, net of deferred taxes, for the six months ended June 30, 2015. Amounts in parentheses indicate debits.
[4]	Includes foreign currency translation adjustments attributable to noncontrolling interests of $1.3 million and $1.4 million at April 1, 2015 and 2014, $2.7 million and $1.4 million at June 30, 2015 and 2014, respectively. Includes net investment hedge losses of $6.5 million, net of deferred taxes, for the three months ended June 30, 2015. Amounts in parentheses indicate debits.
[5]	These accumulated other comprehensive loss components are included in the computation of net periodic pension cost. See Note 10 for additional details
[6]	These accumulated other comprehensive loss components are included in the computation of net periodic pension cost. See Note 10 for additional details.

Realignment Programs

Realignment Programs	6 Months Ended
	Jun. 30, 2015
Restructuring and Related Activities [Abstract]
Realignment Programs	Realignment Programs In the first quarter of 2015, we initiated a realignment program ("R1 Realignment Program") to reduce and optimize certain non-strategic QRCs and manufacturing facilities from the SIHI acquisition . We anticipate a total investment in this program of approximately $54 million of which approximately $46 million is related to identified initiatives and is primarily restructuring, including related severance costs and primarily incurred by IPD. Realignment charges of $28.9 million were recorded in IPD, $0.7 million in EPD and $5.5 million was reported in income tax expense in our condensed consolidated statement of income for the six months ended June 30, 2015 . We anticipate that the majority of any remaining charges will be incurred through the remainder of 2015 and 2016. In the second quarter of 2015, we initiated a second realignment program ("R2 Realignment Program") to better align costs and improve long-term efficiency, including further manufacturing optimization, through the transfer of activities from high-cost regions to lower-cost facilities, consolidation of facilities and a reduction in our workforce. We anticipate a total investment in this program of approximately $100 million . We anticipate that the majority of the charges will be incurred through the remainder of 2015 and 2016. The realignment programs consist 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 include related severance costs. Non-restructuring charges are primarily employee severance associated with workforce reductions to reduce redundancies. Expenses are primarily reported in COS or SG&A, as applicable, in our condensed consolidated statements of income. Total realignment charges were $33.2 million and $0.8 million for the three months ended June 30, 2015 and 2014, respectively. Total realignment charges were $59.4 million and $1.9 million for the six months ended June 30, 2015 and 2014, respectively. Generally, the aforementioned charges will be paid in cash, except for asset write-downs, which are non-cash charges. The total restructuring reserve related to our realignment programs was $33.0 million and $1.1 million at June 30, 2015 and December 31, 2014 , respectively. R1 Realignment Program The following is a summary of total charges related to the R1 Realignment Program: (Amounts in thousands) Three Months Ended June 30, 2015 Six Months Ended June 30, 2015 Restructuring Charges COS $ 5,311 $ 18,639 SG&A 2,690 10,245 $ 8,001 $ 28,884 Non-Restructuring Charges COS $ — $ — SG&A 68 700 $ 68 $ 700 Total Realignment Program Charges COS $ 5,311 $ 18,639 SG&A 2,758 10,945 $ 8,069 $ 29,584 The following represents the activity, primarily severance, related to the restructuring reserve for the R1 Realignment Program: (Amounts in thousands) Balance at December 31, 2014 $ — Charges 20,883 Cash Expenditures — Other non-cash adjustments, including currency (579 ) Balance at March 31, 2015 $ 20,304 Charges 8,001 Cash Expenditures (243 ) Other non-cash adjustments, including currency 875 Balance at June 30, 2015 $ 28,937 R2 Realignment Program The following is a summary of total charges related to the R2 Realignment Program: Three and Six Months Ended June 30, 2015 (Amounts in thousands) Engineered Product Division Industrial Product Division Flow Control Division Subtotal–Reportable Segments Eliminations and All Other Consolidated Total Restructuring Charges COS $ 110 $ — $ 1,019 $ 1,129 $ — $ 1,129 SG&A 122 — 2,342 2,464 — 2,464 $ 232 $ — $ 3,361 $ 3,593 $ — $ 3,593 Non-Restructuring Charges COS $ 7,069 $ 927 $ 5,091 $ 13,087 $ — $ 13,087 SG&A 2,160 1,194 3,924 7,278 — 7,278 $ 9,229 $ 2,121 $ 9,015 $ 20,365 $ — $ 20,365 Total Realignment Program Charges COS $ 7,179 $ 927 $ 6,110 $ 14,216 $ — $ 14,216 SG&A 2,282 1,194 6,266 9,742 — 9,742 $ 9,461 $ 2,121 $ 12,376 $ 23,958 $ — $ 23,958 Restructuring charges represent costs associated with the relocation or reorganization of certain business activities and facility closures and include costs related to employee severance at closed facilities, contract termination costs, asset write-downs and other costs. Severance costs primarily include costs associated with involuntary termination benefits. Contract termination costs include costs related to termination of operating leases or other contract termination costs. Asset write-downs include accelerated depreciation of fixed assets, accelerated amortization of intangible assets and inventory write-downs. Other costs generally includes costs related to employee relocation, asset relocation, vacant facility costs (i.e., taxes and insurance) and other charges. Restructuring charges for the R2 Realignment Program are as follows: (Amounts in thousands) Severance Contract Termination Asset Write-Downs Other Total Three and Six Months Ended June 30, 2015 COS $ 973 $ — $ 107 $ 49 $ 1,129 SG&A 1,754 — 634 76 2,464 Total $ 2,727 $ — $ 741 $ 125 $ 3,593 The following represents the activity, primarily severance, related to the restructuring reserve for the R2 Realignment Program: (Amounts in thousands) Balance at March 31, 2015 $ — Charges 2,852 Cash Expenditures (166 ) Other non-cash adjustments, including currency 737 Balance at June 30, 2015 $ 3,423

Basis of Presentation and Acc23

Basis of Presentation and Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 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, as of January 1, 2015, did not have an impact on our consolidated financial condition and results of operations. In May 2015, the FASB issued ASU No. 2015-08, "Business Combinations (Topic 805), Pushdown Accounting - Amendments to SEC Paragraphs Pursuant to Staff Accounting Bulletin No. 115." This ASU amends various U.S. Securities and Exchange Commission ("SEC") paragraphs pursuant to the issuance Staff Accounting Bulletin No. 115. The amendments conforms the Board’s guidance on pushdown accounting to that of the SEC. We adopted the amendments of this ASU immediately and it 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. In July 2015 the FASB voted to delay the effective date of ASU 2014-09 by one year. As a result, public entities will apply the new standard for annual reporting periods beginning after December 15, 2017, including interim periods within those reporting periods. Early adoption as of the original public entity effective date is permitted. 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. In April 2015, the FASB issued ASU No. 2015-05, "Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement." The ASU provides explicit guidance about a customer's accounting for fees paid in connection with a cloud computing arrangements. ASU 2015-05 is effective for periods beginning after December 15, 2015. Early adoption is permitted. The adoption of ASU No. 2015-05 is not expected to have a material impact on our consolidated financial condition and results of operations. In May 2015, the FASB issued ASU No. 2015-07, "Fair Value Measurement (Topic 820): Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent) (a consensus of the Emerging Issues Task Force)." The ASU removes the requirement to categorize all investments for which fair value is measured using the net asset value per share practical expedient within the fair value hierarchy. ASU 2015-07 is effective for periods beginning after December 15, 2015. Early adoption is permitted. The adoption of ASU No. 2015-07 is not expected to have an 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)	6 Months Ended
	Jun. 30, 2015
Business Combinations [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The allocation of the purchase price, including the above mentioned measurement period adjustments, is summarized below: January 7, 2015 (As originally reported) Measurement Period Adjustments January 7, 2015 (As adjusted) (Amounts in millions) Accounts receivable $ 56.2 $ 3.1 $ 59.3 Inventories 74.0 — 74.0 Prepaid expenses and other 17.2 0.5 17.7 Total current assets 147.4 3.6 151.0 Intangible assets Trademarks 20.9 — 20.9 Existing customer relationships 45.3 — 45.3 Backlog 8.5 — 8.5 Engineering drawings and other 3.9 — 3.9 Total intangible assets 78.6 — 78.6 Property, plant and equipment 87.5 7.0 94.5 Long-term deferred tax asset 10.7 1.0 11.7 Investments in affiliates 11.6 (4.3 ) 7.3 Total assets 335.8 7.3 343.1 Current liabilities (87.0 ) (1.0 ) (88.0 ) Noncurrent liabilities (101.7 ) (13.0 ) (114.7 ) Net assets 147.1 (6.7 ) 140.4 Goodwill 194.4 6.7 201.1 Purchase price, net of cash acquired of $23.4 million $ 341.5 $ — $ 341.5

Stock-Based Compensation Plans

Stock-Based Compensation Plans (Tables)	6 Months Ended
	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Information Regarding Restricted Shares	The following table summarizes information regarding Restricted Shares: Six Months Ended June 30, 2015 Shares Weighted Average Grant-Date Fair Value Number of unvested shares: Outstanding - January 1, 2015 1,856,548 $ 52.29 Granted 648,819 55.86 Vested (918,148 ) 42.84 Canceled (97,235 ) 60.77 Outstanding - June 30, 2015 1,489,984 $ 59.12

Derivative Instruments and He26

Derivative Instruments and Hedges (Tables)	6 Months Ended
	Jun. 30, 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: June 30, December 31, (Amounts in thousands) 2015 2014 Current derivative assets $ 2,517 $ 11,709 Noncurrent derivative assets 9 6 Current derivative liabilities 4,758 6,168 Noncurrent derivative liabilities 311 348
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: June 30, December 31, (Amounts in thousands) 2015 2014 Current derivative assets $ 152 $ — Current derivative liabilities $ 6,467 $ 6,952 Noncurrent derivative liabilities 61 411
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 June 30, Six Months Ended June 30, (Amounts in thousands) 2015 2014 2015 2014 Gain (loss) recognized in income $ 1,901 $ (1,421 ) $ 26,981 $ 123 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)	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Debt Including Capital Lease Obligations	Debt, including capital lease obligations, consisted of: June 30, December 31, (Amounts in thousands, except percentages) 2015 2014 1.25% EUR Senior Notes due March 17, 2022, net of unamortized discount $ 553,199 $ — 4.00% USD Senior Notes due November 15, 2023, net of unamortized discount 298,791 298,731 3.50% USD Senior Notes due September 15, 2022, net of unamortized discount 498,547 498,460 Term Loan Facility, interest rate of 1.25% at June 30, 2015 and 1.51% at December 31, 2014 310,000 330,000 Capital lease obligations and other borrowings 32,978 27,731 Debt and capital lease obligations 1,693,515 1,154,922 Less amounts due within one year 67,365 53,131 Total debt due after one year $ 1,626,150 $ 1,101,791

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2015
Inventory Disclosure [Abstract]
Net Components of Inventory	Inventories, net consisted of the following: June 30, December 31, (Amounts in thousands) 2015 2014 Raw materials $ 435,902 $ 352,928 Work in process 773,981 687,343 Finished goods 247,512 265,439 Less: Progress billings (246,543 ) (230,058 ) Less: Excess and obsolete reserve (81,157 ) (80,088 ) Inventories, net $ 1,129,695 $ 995,564

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 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 June 30, (Amounts in thousands, except per share data) 2015 2014 Net earnings of Flowserve Corporation $ 75,008 $ 123,513 Dividends on restricted shares not expected to vest 3 3 Earnings attributable to common and participating shareholders $ 75,011 $ 123,516 Weighted average shares: Common stock 133,742 136,613 Participating securities 495 573 Denominator for basic earnings per common share 134,237 137,186 Effect of potentially dilutive securities 594 809 Denominator for diluted earnings per common share 134,831 137,995 Earnings per common share: Basic $ 0.56 $ 0.90 Diluted 0.56 0.90 Six Months Ended June 30, (Amounts in thousands, except per share data) 2015 2014 Net earnings of Flowserve Corporation $ 102,674 $ 231,247 Dividends on restricted shares not expected to vest 6 6 Earnings attributable to common and participating shareholders $ 102,680 $ 231,253 Weighted average shares: Common stock 134,065 136,868 Participating securities 513 592 Denominator for basic earnings per common share 134,578 137,460 Effect of potentially dilutive securities 815 972 Denominator for diluted earnings per common share 135,393 138,432 Earnings per common share: Basic $ 0.76 $ 1.68 Diluted 0.76 1.67

Retirement and Postretirement30

Retirement and Postretirement Benefits (Tables)	6 Months Ended
	Jun. 30, 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 June 30, 2015 and 2014 were as follows: U.S. Defined Benefit Plans Non-U.S. Defined Benefit Plans Postretirement Medical Benefits (Amounts in millions) 2015 2014 2015 2014 2015 2014 Service cost $ 5.9 $ 5.8 $ 2.0 $ 1.8 $ — $ — Interest cost 4.2 4.3 2.9 3.7 0.3 0.3 Expected return on plan assets (6.0 ) (5.5 ) (3.0 ) (2.6 ) — — Amortization of prior service cost 0.1 0.1 — — 0.1 — Amortization of unrecognized net loss (gain) 2.3 2.2 1.3 1.7 (0.2 ) (0.2 ) Net periodic cost recognized $ 6.5 $ 6.9 $ 3.2 $ 4.6 $ 0.2 $ 0.1 Components of the net periodic cost for retirement and postretirement benefits for the six months ended June 30, 2015 and 2014 were as follows: U.S. Defined Benefit Plans Non-U.S. Defined Benefit Plans Postretirement Medical Benefits (Amounts in millions) 2015 2014 2015 2014 2015 2014 Service cost $ 12.1 $ 11.5 $ 4.2 $ 3.5 $ — $ — Interest cost 8.5 8.7 6.2 7.4 0.6 0.6 Expected return on plan assets (12.1 ) (11.0 ) (6.0 ) (5.3 ) — — Amortization of prior service cost 0.2 0.2 — 0.1 0.1 — Amortization of unrecognized net loss (gain) 4.6 4.2 2.6 3.4 (0.3 ) (0.6 ) Net periodic cost recognized $ 13.3 $ 13.6 $ 7.0 $ 9.1 $ 0.4 $ —

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 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 June 30, 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 $ 558,334 $ 248,659 $ 355,254 $ 1,162,247 $ — $ 1,162,247 Intersegment sales 12,431 12,156 1,111 25,698 (25,698 ) — Segment operating income 86,227 7,070 54,489 147,786 (20,209 ) 127,577 Three Months Ended June 30, 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 $ 626,380 $ 193,382 $ 404,616 $ 1,224,378 $ — $ 1,224,378 Intersegment sales 13,824 10,449 1,769 26,042 (26,042 ) — Segment operating income 108,771 30,176 79,129 218,076 (23,761 ) 194,315 Six Months Ended June 30, 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 $ 1,031,747 $ 463,371 $ 681,749 $ 2,176,867 $ — $ 2,176,867 Intersegment sales 23,177 20,812 1,778 45,767 (45,767 ) — Segment operating income (loss) 155,056 (6,269 ) 109,204 257,991 (37,038 ) 220,953 Six Months Ended June 30, 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 $ 1,136,691 $ 369,376 $ 786,447 $ 2,292,514 $ — $ 2,292,514 Intersegment sales 27,609 20,639 2,877 51,125 (51,125 ) — Segment operating income 190,136 48,964 162,262 401,362 (42,722 ) 358,640

Accumulated Other Comprehensi32

Accumulated Other Comprehensive Loss (Tables)		6 Months Ended
		Jun. 30, 2015
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	[1],[2],[3],[4],[5]	The following table presents the changes in accumulated other comprehensive loss ("AOCL"), net of tax for the six months ended June 30, 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 (92,768 ) 4,785 (6,705 ) (94,688 ) 5,273 (894 ) (143 ) 4,236 Amounts reclassified from AOCL — 4,886 4,986 9,872 5,460 5,136 246 10,842 Net current-period other comprehensive (loss) income (92,768 ) 9,671 (1,719 ) (84,816 ) 10,733 4,242 103 15,078 Balance - June 30 $ (331,301 ) $ (125,727 ) $ (6,929 ) $ (463,957 ) $ (79,220 ) $ (125,286 ) $ (711 ) $ (205,217 ) _______________________________________ (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 $2.7 million and $1.4 million at June 30, 2015 and 2014 , respectively. Includes net investment hedge losses of $8.6 million , net of deferred taxes, for the six months ended June 30, 2015 . Amounts in parentheses indicate debits. The following table presents the changes in accumulated other comprehensive loss ("AOCL"), net of tax for the three months ended June 30, 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 - April 1 $ (344,967 ) $ (127,507 ) $ (10,356 ) $ (482,830 ) $ (87,002 ) $ (126,749 ) $ (646 ) $ (214,397 ) Other comprehensive income (loss) before reclassifications 13,666 (675 ) 1,648 14,639 7,782 (1,193 ) (167 ) 6,422 Amounts reclassified from AOCL — 2,455 1,779 4,234 — 2,656 102 2,758 Net current-period other comprehensive income (loss) 13,666 1,780 3,427 18,873 7,782 1,463 (65 ) 9,180 Balance - June 30 $ (331,301 ) $ (125,727 ) $ (6,929 ) $ (463,957 ) $ (79,220 ) $ (125,286 ) $ (711 ) $ (205,217 ) _______________________________________ (1) Includes foreign currency translation adjustments attributable to noncontrolling interests of $1.3 million and $1.4 million at April 1, 2015 and 2014, $2.7 million and $1.4 million at June 30, 2015 and 2014 , respectively. Includes net investment hedge losses of $6.5 million , net of deferred taxes, for the three months ended June 30, 2015 . Amounts in parentheses indicate debits.
Reclassifications out of Accumulated Other Comprehensive Income (Loss)	[1],[2],[3],[4],[5],[6]	The following table presents the reclassifications out of AOCL: Six Months Ended June 30, (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 ) Tax benefit — — Net of tax $ — $ (5,460 ) Cash flow hedging activity Foreign exchange contracts Other expense, net $ (3,327 ) $ — Sales (3,704 ) (391 ) Tax benefit 2,045 145 Net of tax $ (4,986 ) $ (246 ) Pension and other postretirement effects Amortization of actuarial losses(2) $ (6,931 ) $ (7,031 ) Prior service costs(2) (354 ) (339 ) Tax benefit 2,399 2,234 Net of tax $ (4,886 ) $ (5,136 ) _______________________________________ (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. The following table presents the reclassifications out of AOCL: Three Months Ended June 30, (Amounts in thousands) Affected line item in the statement of income 2015(1) 2014(1) Cash flow hedging activity Foreign exchange contracts Sales $ (2,522 ) $ (161 ) Tax benefit 743 59 Net of tax $ (1,779 ) $ (102 ) Pension and other postretirement effects Amortization of actuarial losses(2) $ (3,507 ) $ (3,605 ) Prior service costs(2) (156 ) (221 ) Tax benefit 1,208 1,170 Net of tax $ (2,455 ) $ (2,656 ) _______________________________________ (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.
[1]	Amounts in parentheses indicate decreases to income. None of the reclass amounts have a noncontrolling interest component.
[2]	Amounts in parentheses indicate decreases to income. None of the reclass amounts have a noncontrolling interest component.
[3]	Includes foreign currency translation adjustments attributable to noncontrolling interests of $1.3 million and $1.4 million at April 1, 2015 and 2014, $2.7 million and $1.4 million at June 30, 2015 and 2014, respectively. Includes net investment hedge losses of $6.5 million, net of deferred taxes, for the three months ended June 30, 2015. Amounts in parentheses indicate debits.
[4]	These accumulated other comprehensive loss components are included in the computation of net periodic pension cost. See Note 10 for additional details
[5]	These accumulated other comprehensive loss components are included in the computation of net periodic pension cost. See Note 10 for additional details.
[6]	Includes foreign currency translation adjustments attributable to noncontrolling interests of $1.3 million and $1.2 million at January 1, 2015 and 2014 and $2.7 million and $1.4 million at June 30, 2015 and 2014, respectively. Includes net investment hedge losses of $8.6 million, net of deferred taxes, for the six months ended June 30, 2015. Amounts in parentheses indicate debits.

Realignment Programs (Tables)

Realignment Programs (Tables)	6 Months Ended
	Jun. 30, 2015
R1 Realignment Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Costs [Table Text Block]	The following is a summary of total charges related to the R1 Realignment Program: (Amounts in thousands) Three Months Ended June 30, 2015 Six Months Ended June 30, 2015 Restructuring Charges COS $ 5,311 $ 18,639 SG&A 2,690 10,245 $ 8,001 $ 28,884 Non-Restructuring Charges COS $ — $ — SG&A 68 700 $ 68 $ 700 Total Realignment Program Charges COS $ 5,311 $ 18,639 SG&A 2,758 10,945 $ 8,069 $ 29,584
Schedule of Restructuring Reserve by Type of Cost [Table Text Block]	The following represents the activity, primarily severance, related to the restructuring reserve for the R1 Realignment Program: (Amounts in thousands) Balance at December 31, 2014 $ — Charges 20,883 Cash Expenditures — Other non-cash adjustments, including currency (579 ) Balance at March 31, 2015 $ 20,304 Charges 8,001 Cash Expenditures (243 ) Other non-cash adjustments, including currency 875 Balance at June 30, 2015 $ 28,937
R2 Realignment Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Costs [Table Text Block]	Restructuring charges for the R2 Realignment Program are as follows: (Amounts in thousands) Severance Contract Termination Asset Write-Downs Other Total Three and Six Months Ended June 30, 2015 COS $ 973 $ — $ 107 $ 49 $ 1,129 SG&A 1,754 — 634 76 2,464 Total $ 2,727 $ — $ 741 $ 125 $ 3,593 The following is a summary of total charges related to the R2 Realignment Program: Three and Six Months Ended June 30, 2015 (Amounts in thousands) Engineered Product Division Industrial Product Division Flow Control Division Subtotal–Reportable Segments Eliminations and All Other Consolidated Total Restructuring Charges COS $ 110 $ — $ 1,019 $ 1,129 $ — $ 1,129 SG&A 122 — 2,342 2,464 — 2,464 $ 232 $ — $ 3,361 $ 3,593 $ — $ 3,593 Non-Restructuring Charges COS $ 7,069 $ 927 $ 5,091 $ 13,087 $ — $ 13,087 SG&A 2,160 1,194 3,924 7,278 — 7,278 $ 9,229 $ 2,121 $ 9,015 $ 20,365 $ — $ 20,365 Total Realignment Program Charges COS $ 7,179 $ 927 $ 6,110 $ 14,216 $ — $ 14,216 SG&A 2,282 1,194 6,266 9,742 — 9,742 $ 9,461 $ 2,121 $ 12,376 $ 23,958 $ — $ 23,958
Schedule of Restructuring Reserve by Type of Cost [Table Text Block]	The following represents the activity, primarily severance, related to the restructuring reserve for the R2 Realignment Program: (Amounts in thousands) Balance at March 31, 2015 $ — Charges 2,852 Cash Expenditures (166 ) Other non-cash adjustments, including currency 737 Balance at June 30, 2015 $ 3,423

Basis of Presentation and Acc34

Basis of Presentation and Accounting Policies (Details) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2015VEF / $	Mar. 31, 2015USD ($)	Jun. 30, 2015USD ($)VEF / $	Jun. 30, 2014USD ($)	Dec. 31, 2014
Financial Statement Line Items with Differences in Reported Amount and Reporting Currency Denominated Amounts [Line Items]
Remeasurement loss			$ (49,794)	$ (11,489)
Venezuela
Financial Statement Line Items with Differences in Reported Amount and Reporting Currency Denominated Amounts [Line Items]
Segment sales percentage of consolidated sales (less than 1%)	0.50%		0.50%
SegmentAssetsPercentageOfConsolidatedAssets	0.50%		0.50%
Percentage of outstanding accounts receivable	8.00%		8.00%
Percentage of Receivables Re-classed to Long Term			58.00%		48.00%
Foreign currency exchange rate, translation | VEF / $	6.3		6.3
Remeasurement loss		$ 20,600
Remeasurement Recognized In Other Expense Net		18,500
Currency Remeasurement Expense Recognized as Cost of Goods Sold		$ 2,100
SICAD I Exchange rate | Venezuela
Financial Statement Line Items with Differences in Reported Amount and Reporting Currency Denominated Amounts [Line Items]
Foreign currency exchange rate, translation | VEF / $	12.8		12.8
SIMADI Exchange Rate | Venezuela
Financial Statement Line Items with Differences in Reported Amount and Reporting Currency Denominated Amounts [Line Items]
Foreign currency exchange rate, translation | VEF / $	197		197

Acquisition and Disposition (De

Acquisition and Disposition (Details) $ in Thousands, € in Millions	Jan. 07, 2015USD ($)	Jan. 07, 2015EUR (€)	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Mar. 31, 2014USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Nov. 30, 2014EUR (€)	Dec. 31, 2014USD ($)
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract]
Goodwill			$ 1,236,374			$ 1,236,374			$ 1,067,255
Measurement Period Adjustments
Sales			1,162,247	$ 1,224,378		2,176,867	$ 2,292,514
Proceeds from sale of business, net of cash divested						0	46,805
Gain (Loss) on Disposition of Business						0	$ 13,403
Naval OY
Measurement Period Adjustments
Proceeds from sale of business, net of cash divested					$ 46,800
Gain (Loss) on Disposition of Business					13,400
Disposal Group, Including Discontinued Operation, Revenue					$ 8,200
SIHI Group B.V.
Schedule of Equity Method Investments [Line Items]
Percentage acquired	100.00%
Business Combination, Consideration Transferred	$ 341,500	€ 286.7
Business Combination, Cash Consideration Transferred	110,000
Business Combination, Consideration Transferred from borrowed sources	255,000
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract]
Accounts receivable	59,300
Prepaid expenses and other	17,700
Inventories	74,000
Total current assets	151,000
Intangible assets	78,600
Property, plant and equipment	94,500
Long-term deferred tax asset	11,700
Investments in affiliates	7,300
Total assets	343,100
Current liabilities	(88,000)
Noncurrent liabilities	(114,700)
Net assets	140,400
Goodwill	201,100
Purchase price, net of cash acquired of $23.4 million	341,500
Measurement Period Adjustments
Accounts receivable	3,100
Inventories	0
Prepaid expenses and other	500
Total current assets	3,600
Intangible assets	0
Property, plant and equipment	7,000
Long-term deferred tax asset	1,000
Investments in affiliates	(4,300)
Total assets	7,300
Current liabilities	1,000
Noncurrent liabilities	13,000
Net assets	(6,700)
Goodwill	6,700
Purchase price, net of cash acquired of $23.4 million	0
Business Acquisition, Purchase Price, Net of Cash Acquired			23,400			$ 23,400
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life						9 years
Sales			77,200			$ 144,100
Business Acquisition Impact On Operating Income			$ 13,500			$ 37,900
Business Acquisition, Revenue Reported by Acquired Entity for Last Annual Period | €								€ 270
SIHI Group B.V. | As originally reported
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract]
Accounts receivable	56,200
Prepaid expenses and other	17,200
Inventories	74,000
Total current assets	147,400
Intangible assets	78,600
Property, plant and equipment	87,500
Long-term deferred tax asset	10,700
Investments in affiliates	11,600
Total assets	335,800
Current liabilities	(87,000)
Noncurrent liabilities	(101,700)
Net assets	147,100
Goodwill	194,400
Purchase price, net of cash acquired of $23.4 million	341,500
SIHI Group B.V. | Trademarks
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract]
Intangible assets	20,900
Measurement Period Adjustments
Intangible assets	0
SIHI Group B.V. | Trademarks | As originally reported
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract]
Intangible assets	20,900
SIHI Group B.V. | Existing customer relationships
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract]
Intangible assets	45,300
Measurement Period Adjustments
Intangible assets	0
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life						10 years
SIHI Group B.V. | Existing customer relationships | As originally reported
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract]
Intangible assets	45,300
SIHI Group B.V. | Backlog
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract]
Intangible assets	8,500
Measurement Period Adjustments
Intangible assets	0
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life						1 year
SIHI Group B.V. | Backlog | As originally reported
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract]
Intangible assets	8,500
SIHI Group B.V. | Engineering drawings and other
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract]
Intangible assets	3,900
Measurement Period Adjustments
Intangible assets	0
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life						10 years
SIHI Group B.V. | Engineering drawings and other | As originally reported
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract]
Intangible assets	$ 3,900

Stock-Based Compensation Plan36

Stock-Based Compensation Plans (Details) $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2015USD ($)shares	Mar. 31, 2015USD ($)shares	Jun. 30, 2014USD ($)	Mar. 31, 2014USD ($)	Jun. 30, 2015USD ($)periodshares	Jun. 30, 2014USD ($)	Dec. 31, 2014USD ($)shares	Jun. 22, 2014shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted during period		0
Plan 2,010
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		4,251,797
Plan 2,004
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	1,489,984				1,489,984		1,856,548
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period					648,819
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) | $	$ 1.6	$ 39.3	$ 1.5	$ 34.4
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $		$ 44.3					$ 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 | $	5.5		5.5		$ 11.5	$ 12
Allocated Share-based Compensation Expense | $	$ 8.3		$ 8.4		$ 17.4	$ 18.3
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	732,000				732,000
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) | period					3
Vesting period					36 months
Minimum range of vesting provisions	0				0
Maximum range of vesting provisions	1,421,000				1,421,000
Estimated vesting of shares based on performance shares	893,000				893,000
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%

Stock-Based Compensation Plan37

Stock-Based Compensation Plans (Information Regarding Restricted Shares) (Details) - 6 months ended Jun. 30, 2015 - Restricted Stock - $ / shares	Total
Shares
Outstanding, Shares, Beginning balance	1,856,548
Vested, Shares	(918,148)
Cancelled, Shares	(97,235)
Outstanding, Shares, Ending balance	1,489,984
Weighted Average Grant-Date Fair Value
Outstanding, Weighted Average Grant-Date Fair Value, Beginning balance	$ 52.29
Granted, Weighted Average Grant-Date Fair Value	55.86
Vested, Weighted Average Grant-Date Fair Value	42.84
Cancelled, Weighted Average Grant-Date Fair Value	60.77
Outstanding, Weighted Average Grant-Date Fair Value, Ending balance	$ 59.12

Derivative Instruments and He38

Derivative Instruments and Hedges (Details Textual) € in Millions	6 Months Ended
	Jun. 30, 2015USD ($)	Mar. 17, 2015USD ($)	Mar. 17, 2015EUR (€)	Dec. 31, 2014USD ($)
Forward Exchange Contract [Member]
Derivative [Line Items]
Lower maturity range	8 days
Higher maturity range	30 months
Interest Rate Swap
Derivative [Line Items]
Derivative, notional amount	$ 0			$ 40,000,000
Designated as Hedging Instrument [Member] | Forward Exchange Contract [Member]
Derivative [Line Items]
Derivative, notional amount	69,600,000			125,900,000
Not Designated as Hedging Instrument [Member] | Forward Exchange Contract [Member]
Derivative [Line Items]
Derivative, notional amount	$ 503,200,000			$ 421,100,000
2022 EUR Senior Notes
Derivative [Line Items]
Designated Amount, Net Investment Hedge | €			€ 255.7
Debt Instrument, Face Amount		$ 500,000,000	€ 500

Derivative Instruments and He39

Derivative Instruments and Hedges (Fair Value Balance Sheet Disclosures) (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member]
Derivative [Line Items]
Current derivative assets	$ 2,517	$ 11,709
Noncurrent derivative assets	9	6
Current derivative liabilities	4,758	6,168
Noncurrent derivative liabilities	311	348
Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member]
Derivative [Line Items]
Current derivative assets	152
Current derivative liabilities	6,467
Noncurrent derivative liabilities	$ 61
Designated as Hedging Instrument [Member] | Interest Rate Swaps and Foreign Exchange Contracts [Member]
Derivative [Line Items]
Current derivative assets		0
Current derivative liabilities		6,952
Noncurrent derivative liabilities		$ 411

Derivative Instruments and He40

Derivative Instruments and Hedges (Fair Value of Forward Exchange Contracts) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Forward Contracts [Member]
Derivative [Line Items]
Gain (loss) recognized in income	$ 1,901	$ (1,421)	$ 26,981	$ 123

Debt (Schedule of Debt) (Detail

Debt (Schedule of Debt) (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Capital lease obligations and other borrowings	$ 32,978	$ 27,731
Debt and capital lease obligations	1,693,515	1,154,922
Less amounts due within one year	67,365	53,131
Total debt due after one year	1,626,150	1,101,791
2022 EUR Senior Notes
Debt Instrument [Line Items]
Long-term Debt	$ 553,199	$ 0
Stated interest rate (as a percent)	1.25%	0.00%
2023 Senior Notes
Debt Instrument [Line Items]
Long-term Debt	$ 298,791	$ 298,731
Stated interest rate (as a percent)	4.00%	4.00%
2022 Senior notes
Debt Instrument [Line Items]
Long-term Debt	$ 498,547	$ 498,460
Stated interest rate (as a percent)	3.50%	3.50%
Term Loan Facility
Debt Instrument [Line Items]
Term Loan Facility	$ 310,000	$ 330,000
Effective interest rate (as a percent)	1.25%	1.51%

Debt (Details Textual)

Debt (Details Textual) € in Millions	Mar. 17, 2015USD ($)	Mar. 17, 2015EUR (€)	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Sep. 30, 2015USD ($)	Mar. 31, 2015	Mar. 17, 2015EUR (€)	Dec. 31, 2014USD ($)	Oct. 04, 2013USD ($)
Line of Credit Facility [Line Items]
Payments on long-term debt			$ 20,000,000	$ 20,000,000
Domestic subsidiaries unconditional guarantee			100.00%
Debt Instrument, Interest Rate Terms	0.0125	0.0125
Price of senior notes, stated as percentage of principal amount								99.336%
Proceeds from Issuance of Debt	$ 526,300,000	€ 496.7
Term Loan Facility
Line of Credit Facility [Line Items]
Debt Instrument, Face Amount											$ 400,000,000
Payments on long-term debt			$ 20,000,000
Revolving Credit Facility
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity											$ 1,000,000,000
Revolving Credit Facility			0							$ 0
Line of Credit Facility, Current Borrowing Capacity			914,500,000							923,200,000
Senior Credit Facility
Line of Credit Facility [Line Items]
Letters of credit outstanding			$ 85,500,000							$ 76,800,000
Line of credit, commitment fee (as a percentage)			0.175%
Senior Credit Facility | Scenario, Forecast
Line of Credit Facility [Line Items]
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
2022 EUR Senior Notes
Line of Credit Facility [Line Items]
Debt Instrument, Face Amount	$ 500,000,000								€ 500

Fair Value (Details)

Fair Value (Details) $ in Millions	Jun. 30, 2015USD ($)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	$ 1,350.5
Estimate of Fair Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	$ 1,331.2

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Net Components of Inventory
Raw materials	$ 435,902	$ 352,928
Work in process	773,981	687,343
Finished goods	247,512	265,439
Less: Progress billings	(246,543)	(230,058)
Less: Excess and obsolete reserve	(81,157)	(80,088)
Inventories, net	$ 1,129,695	$ 995,564

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Earnings Per Share [Abstract]
Net earnings of Flowserve Corporation	$ 75,008	$ 123,513	$ 102,674	$ 231,247
Dividends on restricted shares not expected to vest	3	3	6	6
Earnings attributable to common and participating shareholders	$ 75,011	$ 123,516	$ 102,680	$ 231,253
Weighted average shares:
Common stock	133,742	136,613	134,065	136,868
Participating securities	495	573	513	592
Denominator for basic earnings per common share	134,237	137,186	134,578	137,460
Effect of potentially dilutive securities	594	809	815	972
Denominator for diluted earnings per common share	134,831	137,995	135,393	138,432
Earnings per common share:
Basic (in dollars per share)	$ 0.56	$ 0.90	$ 0.76	$ 1.68
Diluted (in dollars per share)	$ 0.56	$ 0.90	$ 0.76	$ 1.67

Legal Matters and Contingenci46

Legal Matters and Contingencies (Details) - Jun. 30, 2015	sitecompany
Legal Matters and Contingencies
Number of former public waste disposal sites | site	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

Retirement and Postretirement47

Retirement and Postretirement Benefits (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
U.S Defined Benefit Plans [Member]
Components of the net periodic cost for retirement and postretirement benefits
Service cost	$ 5.9	$ 5.8	$ 12.1	$ 11.5
Interest cost	4.2	4.3	8.5	8.7
Expected return on plan assets	(6)	(5.5)	(12.1)	(11)
Amortization of prior service cost	0.1	0.1	0.2	0.2
Amortization of unrecognized net loss (gain)	2.3	2.2	4.6	4.2
Net periodic cost recognized	6.5	6.9	13.3	13.6
Non-U.S Defined Benefit Plans [Member]
Components of the net periodic cost for retirement and postretirement benefits
Service cost	2	1.8	4.2	3.5
Interest cost	2.9	3.7	6.2	7.4
Expected return on plan assets	(3)	(2.6)	(6)	(5.3)
Amortization of prior service cost	0	0	0	0.1
Amortization of unrecognized net loss (gain)	1.3	1.7	2.6	3.4
Net periodic cost recognized	3.2	4.6	7	9.1
Postretirement Medical Benefits [Member]
Components of the net periodic cost for retirement and postretirement benefits
Service cost	0	0	0	0
Interest cost	0.3	0.3	0.6	0.6
Expected return on plan assets	0	0	0	0
Amortization of prior service cost	0.1	0	0.1	0
Amortization of unrecognized net loss (gain)	(0.2)	(0.2)	(0.3)	(0.6)
Net periodic cost recognized	$ 0.2	$ 0.1	$ 0.4	$ 0

Shareholders' Equity (Details)

Shareholders' Equity (Details) - USD ($) $ / shares in Units, $ in Millions	Feb. 16, 2015	Feb. 17, 2014	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Nov. 13, 2014	Nov. 12, 2014
Equity, Class of Treasury Stock [Line Items]
Dividends on Common Stock			$ 0.18	$ 0.16	$ 0.36	$ 0.32
Remaining authorized repurchase capacity			$ 324.8		$ 324.8
Repurchase of shares			1,072,421	573,881	2,454,446	2,010,304
Repurchases of shares, value			$ 59.7	$ 43.5	$ 139.6	$ 153.1
Share repurchase program 2014 [Member]
Equity, Class of Treasury Stock [Line Items]
Authorized amount to be repurchased							$ 500
Share repurchase program 2013
Equity, Class of Treasury Stock [Line Items]
Authorized amount to be repurchased								$ 750
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 ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Tax Disclosure [Abstract]
Income before income tax	$ 107,552	$ 175,959	$ 165,702	$ 322,561
Provision for income taxes	$ 30,920	$ 50,794	$ 59,426	$ 88,809
Effective tax rate	28.70%	28.90%	35.90%	27.50%
Change in unrecognized tax benefits for the period			$ 11,200
Unrecognized tax benefits approximate amount of estimated reduction within the next twelve months	$ 10,000		$ 10,000

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Summarized financial information of the reportable segments
Sales	$ 1,162,247	$ 1,224,378	$ 2,176,867	$ 2,292,514
Segment operating income	127,577	194,315	220,953	358,640
Intersegment sales [Member]
Summarized financial information of the reportable segments
Sales	0	0	0	0
Engineered Product Division
Summarized financial information of the reportable segments
Sales	558,334	626,380	1,031,747	1,136,691
Segment operating income	86,227	108,771	155,056	190,136
Engineered Product Division | Intersegment sales [Member]
Summarized financial information of the reportable segments
Sales	12,431	13,824	23,177	27,609
Industrial Product Division
Summarized financial information of the reportable segments
Sales	248,659	193,382	463,371	369,376
Segment operating income	7,070	30,176	(6,269)	48,964
Industrial Product Division | Intersegment sales [Member]
Summarized financial information of the reportable segments
Sales	12,156	10,449	20,812	20,639
Flow Control Division [Member]
Summarized financial information of the reportable segments
Sales	355,254	404,616	681,749	786,447
Segment operating income	54,489	79,129	109,204	162,262
Flow Control Division [Member] | Intersegment sales [Member]
Summarized financial information of the reportable segments
Sales	1,111	1,769	1,778	2,877
Subtotal-Reportable Segments [Member]
Summarized financial information of the reportable segments
Sales	1,162,247	1,224,378	2,176,867	2,292,514
Segment operating income	147,786	218,076	257,991	401,362
Subtotal-Reportable Segments [Member] | Intersegment sales [Member]
Summarized financial information of the reportable segments
Sales	25,698	26,042	45,767	51,125
Eliminations and All Other [Member]
Summarized financial information of the reportable segments
Sales	0	0	0	0
Segment operating income	(20,209)	(23,761)	(37,038)	(42,722)
Eliminations and All Other [Member] | Intersegment sales [Member]
Summarized financial information of the reportable segments
Sales	$ (25,698)	$ (26,042)	$ (45,767)	$ (51,125)

Accumulated Other Comprehensi51

Accumulated Other Comprehensive Loss (Components of AOCI) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014	Dec. 31, 2013
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	$ (482,830)	$ (214,397)	$ (379,141)	$ (220,295)
Other comprehensive income (loss) before reclassifications	14,639	6,422	(94,688)	4,236
Amounts reclassified from AOCL	4,234	2,758	9,872	10,842
Net current-period other comprehensive income (loss)	18,873	9,180	(84,816)	15,078
Ending balance	(463,957)	(205,217)	(463,957)	(205,217)
Interest Rate Cash Flow Hedge Loss to be Reclassified During Next 12 Months, Net	4,600		4,600
Accumulated Other Comprehensive Income (Loss), accumulated Net Gain (Loss) from Net investment hedge	6,500		8,600
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	2,700	1,400	2,700	1,400	$ 1,300	$ 1,300	$ 1,400	$ 1,200
Foreign currency translation items [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(344,967)	(87,002)	(238,533)	(89,953)
Other comprehensive income (loss) before reclassifications	13,666	7,782	(92,768)	5,273
Amounts reclassified from AOCL	0	0	0	5,460
Net current-period other comprehensive income (loss)	13,666	7,782	(92,768)	10,733
Ending balance	(331,301)	(79,220)	(331,301)	(79,220)
Pension and other postretirement effects [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(127,507)	(126,749)	(135,398)	(129,528)
Other comprehensive income (loss) before reclassifications	(675)	(1,193)	4,785	(894)
Amounts reclassified from AOCL	2,455	2,656	4,886	5,136
Net current-period other comprehensive income (loss)	1,780	1,463	9,671	4,242
Ending balance	(125,727)	(125,286)	(125,727)	(125,286)
Cash flow hedging activity [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(10,356)	(646)	(5,210)	(814)
Other comprehensive income (loss) before reclassifications	1,648	(167)	(6,705)	(143)
Amounts reclassified from AOCL	1,779	102	4,986	246
Net current-period other comprehensive income (loss)	3,427	(65)	(1,719)	103
Ending balance	$ (6,929)	$ (711)	$ (6,929)	$ (711)

Accumulated Other Comprehensi52

Accumulated Other Comprehensive Loss (Reclassifications out of AOCI) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015		Jun. 30, 2014
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest Expense	$ 15,392	$ 15,027	$ 31,429		$ 30,176
Other expense, net	(4,882)	(3,836)	(24,828)		(6,741)
Sales	1,162,247	1,224,378	2,176,867		2,292,514
Tax (expense) or benefit	(30,920)	(50,794)	(59,426)		(88,809)
Net earnings attributable to Flowserve Corporation	75,008	123,513	102,674		231,247
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		(5,460)
Tax (expense) or benefit			0		0
Net earnings attributable to Flowserve Corporation			0	[1]	(5,460)
Cash flow hedging activity [Member] | Reclassification out of AOCI [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest Expense	2,522	161
Other expense, net			(3,327)		0
Sales			(3,704)		(391)
Tax (expense) or benefit	743	59	2,045		145
Net earnings attributable to Flowserve Corporation	(1,779)	(102)	(4,986)		(246)
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	(3,507)	(3,605)	(6,931)		(7,031)
Prior service costs	(156)	(221)	(354)		(339)
Tax (expense) or benefit	1,208	1,170	2,399		2,234
Net earnings attributable to Flowserve Corporation	$ (2,455)	$ (2,656)	$ (4,886)	[1]	$ (5,136)	[1]
[1]	Includes foreign currency translation adjustments attributable to noncontrolling interests of $1.3 million and $1.4 million at April 1, 2015 and 2014, $2.7 million and $1.4 million at June 30, 2015 and 2014, respectively. Includes net investment hedge losses of $6.5 million, net of deferred taxes, for the three months ended June 30, 2015. Amounts in parentheses indicate debits.

Realignment Programs (Details)

Realignment Programs (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2015	Mar. 31, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	$ 33,200		$ 800	$ 59,400	$ 1,900
Restructuring Reserve	33,000	$ 1,100		1,100		$ 33,000
Restructuring Reserve [Roll Forward]
Balance at		1,100		1,100
Balance at	33,000			33,000
R1 Realignment Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost						54,000
Restructuring Reserve	20,304	0		0		28,937
Restructuring Charges	8,001	20,883		28,884
Non-Restructuring Charges	68			700
Realignment Program Charges	8,069			29,584
Expected Realignment Program Charges				46,000
Restructuring Reserve [Roll Forward]
Balance at	20,304	0		0
Charges	8,001	20,883		28,884
Cash Expenditures	(243)	0
Other non-cash adjustments, including currency	875	(579)
Balance at	28,937	20,304		28,937
R1 Realignment Program [Member] | Engineered Product Division [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost				700
R1 Realignment Program [Member] | Industrial Product Division [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost				28,900
R1 Realignment Program [Member] | Flow Control Division [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost				5,500
R1 Realignment Program [Member] | Cost of Sales [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	5,311			18,639
Non-Restructuring Charges	0			0
Realignment Program Charges	5,311			18,639
Restructuring Reserve [Roll Forward]
Charges	5,311			18,639
R1 Realignment Program [Member] | Selling, General and Administrative Expenses [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	2,690			10,245
Non-Restructuring Charges	68			700
Realignment Program Charges	2,758			10,945
Restructuring Reserve [Roll Forward]
Charges	2,690			10,245
R2 Realignment Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost						100,000
Restructuring Reserve	0	0		3,423		$ 3,423
Restructuring Charges	2,852			3,593
Non-Restructuring Charges				20,365
Realignment Program Charges				23,958
Restructuring Costs				3,593
Restructuring Reserve [Roll Forward]
Balance at	0
Charges	2,852			3,593
Cash Expenditures	(166)
Other non-cash adjustments, including currency	737
Balance at	$ 3,423	$ 0		3,423
R2 Realignment Program [Member] | Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges				2,727
Restructuring Reserve [Roll Forward]
Charges				2,727
R2 Realignment Program [Member] | Contract Termination [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges				0
Restructuring Reserve [Roll Forward]
Charges				0
R2 Realignment Program [Member] | Asset Write-Downs [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges				741
Restructuring Reserve [Roll Forward]
Charges				741
R2 Realignment Program [Member] | Other [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges				125
Restructuring Reserve [Roll Forward]
Charges				125
R2 Realignment Program [Member] | Engineered Product Division [Member]
Restructuring Cost and Reserve [Line Items]
Non-Restructuring Charges				9,229
Realignment Program Charges				9,461
Restructuring Costs				232
R2 Realignment Program [Member] | Industrial Product Division [Member]
Restructuring Cost and Reserve [Line Items]
Non-Restructuring Charges				2,121
Realignment Program Charges				2,121
Restructuring Costs				0
R2 Realignment Program [Member] | Flow Control Division [Member]
Restructuring Cost and Reserve [Line Items]
Non-Restructuring Charges				9,015
Realignment Program Charges				12,376
Restructuring Costs				3,361
R2 Realignment Program [Member] | Operating Segments [Member]
Restructuring Cost and Reserve [Line Items]
Non-Restructuring Charges				20,365
Realignment Program Charges				23,958
Restructuring Costs				3,593
R2 Realignment Program [Member] | Intersegment Eliminations [Member]
Restructuring Cost and Reserve [Line Items]
Non-Restructuring Charges				0
Realignment Program Charges				0
Restructuring Costs				0
R2 Realignment Program [Member] | Cost of Sales [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges				1,129
Non-Restructuring Charges				13,087
Realignment Program Charges				14,216
Restructuring Costs				1,129
Restructuring Reserve [Roll Forward]
Charges				1,129
R2 Realignment Program [Member] | Cost of Sales [Member] | Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges				973
Restructuring Reserve [Roll Forward]
Charges				973
R2 Realignment Program [Member] | Cost of Sales [Member] | Contract Termination [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges				0
Restructuring Reserve [Roll Forward]
Charges				0
R2 Realignment Program [Member] | Cost of Sales [Member] | Asset Write-Downs [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges				107
Restructuring Reserve [Roll Forward]
Charges				107
R2 Realignment Program [Member] | Cost of Sales [Member] | Other [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges				49
Restructuring Reserve [Roll Forward]
Charges				49
R2 Realignment Program [Member] | Cost of Sales [Member] | Engineered Product Division [Member]
Restructuring Cost and Reserve [Line Items]
Non-Restructuring Charges				7,069
Realignment Program Charges				7,179
Restructuring Costs				110
R2 Realignment Program [Member] | Cost of Sales [Member] | Industrial Product Division [Member]
Restructuring Cost and Reserve [Line Items]
Non-Restructuring Charges				927
Realignment Program Charges				927
Restructuring Costs				0
R2 Realignment Program [Member] | Cost of Sales [Member] | Flow Control Division [Member]
Restructuring Cost and Reserve [Line Items]
Non-Restructuring Charges				5,091
Realignment Program Charges				6,110
Restructuring Costs				1,019
R2 Realignment Program [Member] | Cost of Sales [Member] | Operating Segments [Member]
Restructuring Cost and Reserve [Line Items]
Non-Restructuring Charges				13,087
Realignment Program Charges				14,216
Restructuring Costs				1,129
R2 Realignment Program [Member] | Cost of Sales [Member] | Intersegment Eliminations [Member]
Restructuring Cost and Reserve [Line Items]
Non-Restructuring Charges				0
Realignment Program Charges				0
Restructuring Costs				0
R2 Realignment Program [Member] | Selling, General and Administrative Expenses [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges				2,464
Non-Restructuring Charges				7,278
Realignment Program Charges				9,742
Restructuring Costs				2,464
Restructuring Reserve [Roll Forward]
Charges				2,464
R2 Realignment Program [Member] | Selling, General and Administrative Expenses [Member] | Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges				1,754
Restructuring Reserve [Roll Forward]
Charges				1,754
R2 Realignment Program [Member] | Selling, General and Administrative Expenses [Member] | Contract Termination [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges				0
Restructuring Reserve [Roll Forward]
Charges				0
R2 Realignment Program [Member] | Selling, General and Administrative Expenses [Member] | Asset Write-Downs [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges				634
Restructuring Reserve [Roll Forward]
Charges				634
R2 Realignment Program [Member] | Selling, General and Administrative Expenses [Member] | Other [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges				76
Restructuring Reserve [Roll Forward]
Charges				76
R2 Realignment Program [Member] | Selling, General and Administrative Expenses [Member] | Engineered Product Division [Member]
Restructuring Cost and Reserve [Line Items]
Non-Restructuring Charges				2,160
Realignment Program Charges				2,282
Restructuring Costs				122
R2 Realignment Program [Member] | Selling, General and Administrative Expenses [Member] | Industrial Product Division [Member]
Restructuring Cost and Reserve [Line Items]
Non-Restructuring Charges				1,194
Realignment Program Charges				1,194
Restructuring Costs				0
R2 Realignment Program [Member] | Selling, General and Administrative Expenses [Member] | Flow Control Division [Member]
Restructuring Cost and Reserve [Line Items]
Non-Restructuring Charges				3,924
Realignment Program Charges				6,266
Restructuring Costs				2,342
R2 Realignment Program [Member] | Selling, General and Administrative Expenses [Member] | Operating Segments [Member]
Restructuring Cost and Reserve [Line Items]
Non-Restructuring Charges				7,278
Realignment Program Charges				9,742
Restructuring Costs				2,464
R2 Realignment Program [Member] | Selling, General and Administrative Expenses [Member] | Intersegment Eliminations [Member]
Restructuring Cost and Reserve [Line Items]
Non-Restructuring Charges				0
Realignment Program Charges				0
Restructuring Costs				$ 0