Flowserve (FLS) 10-Q 29 Oct 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Oct. 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	Sep. 30, 2015
Amendment Flag	false
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		130,869,128

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Income Statement [Abstract]
Sales	$ 1,096,476	$ 1,204,012	$ 3,273,342	$ 3,496,526
Cost of sales	(707,726)	(782,522)	(2,183,770)	(2,267,609)
Gross profit	388,750	421,490	1,089,572	1,228,917
Selling, general and administrative expense	(223,516)	(230,872)	(707,037)	(685,277)
Net earnings from affiliates	2,615	1,825	6,268	7,442
Operating income	167,849	192,443	388,803	551,082
Interest expense	(16,283)	(15,130)	(47,712)	(45,306)
Interest income	499	400	1,504	1,238
Other expense, net	(5,430)	5,612	(30,258)	(1,129)
Earnings before income taxes	146,635	183,325	312,337	505,885
Provision for income taxes	(52,099)	(52,725)	(111,525)	(141,533)
Net earnings, including noncontrolling interests	94,536	130,600	200,812	364,352
Less: Net earnings attributable to noncontrolling interests	(913)	(2,038)	(4,515)	(4,544)
Net earnings attributable to Flowserve Corporation	$ 93,623	$ 128,562	$ 196,297	$ 359,808
Net earnings per share attributable to Flowserve Corporation common shareholders:
Basic (in dollars per share)	$ 0.71	$ 0.94	$ 1.47	$ 2.62
Diluted (in dollars per share)	0.70	0.93	1.46	2.60
Cash dividends declared per share (in dollars per share)	$ 0.18	$ 0.16	$ 0.54	$ 0.48

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Statement of Comprehensive Income [Abstract]
Net earnings, including noncontrolling interests	$ 94,536	$ 130,600	$ 200,812	$ 364,352
Other comprehensive income:
Foreign currency translation adjustments, net of taxes of $87,943 and $53,769, respectively	(54,494)	(100,195)	(147,262)	(89,462)
Pension and other postretirement effects, net of taxes of $(5,140) and $(4,563), respectively	3,688	7,278	13,359	11,520
Cash flow hedging activity, net of taxes of $(663) and $1,031, respectively	1,538	(2,797)	(181)	(2,694)
Other comprehensive income	(49,268)	(95,714)	(134,084)	(80,636)
Comprehensive income, including noncontrolling interests	45,268	34,886	66,728	283,716
Comprehensive income attributable to noncontrolling interests	(829)	(1,934)	(5,909)	(4,615)
Comprehensive income attributable to Flowserve Corporation	$ 44,439	$ 32,952	$ 60,819	$ 279,101

Condensed Consolidated Stateme4

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Statement of Comprehensive Income [Abstract]
Foreign currency translation, taxes	$ 32,543	$ 60,220	$ 87,943	$ 53,769
Pension and other postretirement effects, taxes	(1,615)	(2,805)	(5,140)	(4,563)
Cash flow hedging activity, taxes	$ (663)	$ 1,089	$ (281)	$ 1,031

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 237,842	$ 450,350
Accounts receivable, net of allowance for doubtful accounts of $34,653 and $25,469, respectively	999,700	1,082,447
Inventories, net	1,116,445	995,564
Deferred taxes	137,773	158,912
Prepaid expenses and other	157,969	106,890
Total current assets	2,649,729	2,794,163
Property, plant and equipment, net of accumulated depreciation of $854,736 and $836,981, respectively	756,179	693,881
Goodwill	1,234,858	1,067,255
Deferred taxes	24,918	31,419
Other intangible assets, net	235,871	146,337
Other assets, net	256,700	234,965
Total assets	5,158,255	4,968,020
Current liabilities:
Accounts payable	459,013	611,715
Accrued liabilities	772,789	794,072
Debt due within one year	68,893	53,131
Deferred taxes	13,584	12,957
Total current liabilities	1,314,279	1,471,875
Long-term debt due after one year	1,610,059	1,101,791
Retirement obligations and other liabilities	529,371	452,511
Shareholders’ equity:
Common shares, $1.25 par value, Shares authorized - 305,000, Share issued - 176,793	220,991	220,991
Capital in excess of par value	486,787	495,600
Retained earnings	3,539,468	3,415,738
Treasury shares, at cost – 46,496 and 42,444 shares, respectively	(2,053,128)	(1,830,919)
Deferred compensation obligation	10,095	10,558
Accumulated other comprehensive loss	(515,890)	(380,406)
Total Flowserve Corporation shareholders’ equity	1,688,323	1,931,562
Noncontrolling interests	16,223	10,281
Total equity	1,704,546	1,941,843
Total liabilities and equity	$ 5,158,255	$ 4,968,020

Condensed Consolidated Balance6

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Current assets:
Allowance for doubtful accounts	$ 34,653	$ 25,469
Accumulated depreciation on property, plant and equipment	$ 854,736	$ 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	46,496,000	42,444,000

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash flows – Operating activities:
Net earnings, including noncontrolling interests	$ 200,812	$ 364,352
Adjustments to reconcile net earnings to net cash used by operating activities:
Depreciation	73,652	69,748
Amortization of intangible and other assets	25,918	13,555
Gain on sale of business	0	(13,403)
Excess tax benefits from stock-based payment arrangements	(6,822)	(8,490)
Stock-based compensation	26,027	26,685
Foreign currency and other non-cash adjustments	54,635	22,174
Change in assets and liabilities, net of acquisition:
Accounts receivable, net	66,660	(38,798)
Inventories, net	(119,530)	(124,539)
Prepaid expenses and other	(15,336)	(17,568)
Other assets, net	(17,890)	(16,858)
Accounts payable	(157,930)	(88,255)
Accrued liabilities and income taxes payable	(30,014)	(50,305)
Retirement obligations and other liabilities	(6,402)	(9,651)
Net deferred taxes	37,261	1,205
Net cash flows provided by operating activities	131,041	129,852
Cash flows – Investing activities:
Capital expenditures	(138,532)	(83,602)
Payments for acquisition, net of cash acquired	(353,654)	0
Proceeds from disposal of assets	4,103	1,613
Proceeds from sale of business, net of cash divested	0	46,805
Net cash flows used by investing activities	(488,083)	(35,184)
Cash flows – Financing activities:
Excess tax benefits from stock-based payment arrangements	6,822	8,490
Payments on long-term debt	(30,000)	(30,000)
Proceeds from issuance of senior notes	526,332	0
Payments of deferred loan cost	(5,108)	0
Proceeds under other financing arrangements	8,157	14,388
Payments under other financing arrangements	(15,524)	(16,377)
Repurchases of common shares	(249,682)	(188,324)
Payments of dividends	(70,000)	(63,287)
Other	192	(2,499)
Net cash flows provided (used) by financing activities	171,189	(277,609)
Effect of exchange rate changes on cash	(26,655)	(17,994)
Net change in cash and cash equivalents	(212,508)	(200,935)
Cash and cash equivalents at beginning of period	450,350	363,804
Cash and cash equivalents at end of period	$ 237,842	$ 162,869

Basis of Presentation and Accou

Basis of Presentation and Accounting Policies	9 Months Ended
	Sep. 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 September 30, 2015 , the related condensed consolidated statements of income and comprehensive income for the three and nine months ended September 30, 2015 and 2014 , and the condensed consolidated statements of cash flows for the nine months ended September 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. Where applicable, prior period information has been updated to conform to current year presentation. The accompanying condensed consolidated financial statements and notes in this Quarterly Report on Form 10-Q for the quarterly period ended September 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 nine months ended September 30, 2015 represented less than 0.5% of consolidated sales and its assets at September 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 September 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 September 30, 2015 . Given the experienced delays in collecting payments we estimate that approximately 62% 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 September 30, 2015 condensed consolidated balance sheet as compared to 48% at December 31, 2014. At September 30, 2015 the SIMADI exchange rate was 199.4 bolivars to the U.S. dollar, compared with the official exchange rate of 6.3 bolivars to the U.S. dollar and the SICAD I exchange rate which was 13.5 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 nine months ended September 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 conform 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. In September 2015, the FASB issued ASU 2015-16, "Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments." The ASU eliminates the requirement to account for business combination measurement period adjustments retrospectively. Measurement period adjustments will now be recognized prospectively in the reporting period in which the adjustment amount is determined. The nature and amount of any measurement period adjustments recognized during the reporting period must be disclosed, including the value of the adjustment to each current period income statement line item relating to the income effects that would have been recognized in previous periods if the adjustment to provisional amounts were recognized as of the acquisition date. ASU 2015-16 is effective for periods beginning after December 15, 2015 and early adoption is permitted. 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 August 2015, the FASB issued ASU No. 2015-14, "Revenue from Contracts with Customers (Topic 606): Deferral of Effective Date." 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. In July 2015, the FASB issued ASU No. 2015-11, "Inventory (Topic 330): Simplifying the Measurement of Inventory." The ASU updates represent changes to simplify the subsequent measurement of inventory. Previous to the issuance of this ASU, ASC 330 required that an entity measure inventory at the lower of cost or market. The amendments of ASU 2015-11 update narrows that “market” requirement to “net realizable value,” which is defined by the ASU as the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. This ASU is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2016. Application of this ASU is to be made prospectively, earlier application is permitted as of the beginning of an interim or annual reporting period. The adoption of ASU No. 2015-11 is not expected to have a material impact on our consolidated financial condition and results of operations. In August 2015, the FASB issued ASU 2015-15, "Interest - Imputation of Interest (Subtopic 835-30): Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements—Amendments to SEC Paragraphs Pursuant to Staff Announcement at June 18, 2015 EITF Meeting (SEC Update)." The ASU clarifies the SEC staff’s position on presenting and measuring debt issuance costs incurred in connection with line-of-credit arrangements. The SEC staff has announced that it would "not object to an entity deferring and presenting debt issuance costs as an asset and subsequently amortizing the deferred debt issuance costs ratably over the term of the line-of-credit arrangement." The adoption of ASU No. 2015-15 is not expected to have a material impact on our consolidated financial condition and results of operations.

Acquisitions and Disposition

Acquisitions and Disposition	9 Months Ended
	Sep. 30, 2015
Business Combinations [Abstract]
Acquisitions and Disposition	Acquisitions 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 (as defined and 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. There were no measurement period adjustments identified in the third quarter of 2015. The allocation of the purchase price, including the above mentioned measurement period adjustments, is summarized below: (Amounts in millions) January 7, 2015 (As originally reported) Measurement Period Adjustments January 7, 2015 (As adjusted) 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. As of date of acquisition existing customer relationships, engineering drawings and backlog had 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 $74 million and $218 million and impacted net earnings by less than $0.1 million and $(38) million for the three and nine months ended September 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	9 Months Ended
	Sep. 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, 4,179,568 were available for issuance as of September 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 $38.4 million and $30.6 million at September 30, 2015 and December 31, 2014 , respectively, which is expected to be recognized over a weighted-average period of approximately one year. 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 September 30, 2015 and 2014 was $1.3 million and less than $0.1 million , respectively. The total fair value of Restricted Shares vested during the nine months ended September 30, 2015 and 2014 was $40.7 million and $34.5 million , respectively We recorded stock-based compensation expense of $5.7 million ( $8.6 million pre-tax) and $5.5 million ( $8.4 million pre-tax) for the three months ended September 30, 2015 and 2014 , respectively. We recorded stock-based compensation expense of $17.2 million ( $26.0 million pre-tax) and $17.6 million ( $26.7 million pre-tax) for the nine months ended September 30, 2015 and 2014 , respectively. The following table summarizes information regarding Restricted Shares: Nine Months Ended September 30, 2015 Shares Weighted Average Grant-Date Fair Value Number of unvested shares: Outstanding - January 1, 2015 1,856,548 $ 52.29 Granted 750,669 53.82 Vested (949,470 ) 42.84 Canceled (130,676 ) 60.59 Outstanding - September 30, 2015 1,527,071 $ 58.21 Unvested Restricted Shares outstanding as of September 30, 2015 , includes approximately 813,000 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 1,486,000 shares based on performance targets. As of September 30, 2015 , we estimate vesting of approximately 971,000 shares based on expected achievement of performance targets.

Derivative Instruments and Hedg

Derivative Instruments and Hedges	9 Months Ended
	Sep. 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 September 30, 2015 . Foreign exchange contracts designated as hedging instruments had a notional value of $42.7 million and $125.9 million , at September 30, 2015 and December 31, 2014 , respectively. Foreign exchange contracts with third parties not designated as hedging instruments had a notional value of $528.1 million and $421.1 million , at September 30, 2015 and December 31, 2014 , respectively. At September 30, 2015 , the length of foreign exchange contracts currently in place ranged from one day to 28 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 September 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: September 30, December 31, (Amounts in thousands) 2015 2014 Current derivative assets $ 3,546 $ 11,709 Noncurrent derivative assets 3 6 Current derivative liabilities 3,200 6,168 Noncurrent derivative liabilities 219 348 The fair value of interest rate swaps and foreign exchange contracts designated as hedging instruments are summarized below: September 30, December 31, (Amounts in thousands) 2015 2014 Current derivative assets $ 164 $ — Current derivative liabilities $ 3,236 $ 6,952 Noncurrent derivative liabilities 28 411 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 September 30, Nine Months Ended September 30, (Amounts in thousands) 2015 2014 2015 2014 Gain recognized in income $ 4,391 $ 1,615 $ 31,372 $ 1,738 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 nine months ended September 30, 2015 .

Debt

Debt	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Debt	Debt Debt, including capital lease obligations, consisted of: September 30, December 31, (Amounts in thousands, except percentages) 2015 2014 1.25% EUR Senior Notes due March 17, 2022, net of unamortized discount $ 555,364 $ — 4.00% USD Senior Notes due November 15, 2023, net of unamortized discount 298,822 298,731 3.50% USD Senior Notes due September 15, 2022, net of unamortized discount 498,591 498,460 Term Loan Facility, interest rate of 1.58% at September 30, 2015 and 1.51% at December 31, 2014 300,000 330,000 Capital lease obligations and other borrowings 26,175 27,731 Debt and capital lease obligations 1,678,952 1,154,922 Less amounts due within one year 68,893 53,131 Total debt due after one year $ 1,610,059 $ 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”). On October 14, 2015 we amended our existing credit agreement. The significant amendments extend the maturity of our Senior Credit Facility by two years to October 14, 2020 , lower the sublimits for the issuance of letters of credit and reduce the commitment fee to 0.15% on the daily unused portions of the Senior Credit Facility. The amended Senior Credit Facility also increases the maximum permitted leverage ratio from 3.25 to 3.5 times debt to total Consolidated EBITDA (as defined in the Senior Credit Facility). Pursuant to the terms of the amended Senior Credit Facility and the indentures governing the Senior Notes, our obligations will no longer carry a conditional guarantee by certain of our 100% owned domestic subsidiaries. Subject to certain conditions, we have the right to increase the amount of the Term Loan Facility or the Revolving Credit Facility by an aggregate amount not to exceed $400.0 million . All other significant existing terms under the credit agreement remained unchanged. As of September 30, 2015 and December 31, 2014 , we had no amounts outstanding under the Revolving Credit Facility. We had outstanding letters of credit of $96.9 million and $76.8 million at September 30, 2015 and December 31, 2014 , respectively, which reduced our borrowing capacity to $903.1 million and $923.2 million , respectively. Our compliance with applicable financial covenants under the Senior Credit Facility is tested quarterly, and we complied with all applicable covenants at September 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 September 30, 2015 (as noted above the commitment fee decreased to 0.15% effective October 14, 2015). During the nine months ended September 30, 2015 , we made scheduled repayments of $30.0 million under our Term Loan Facility. We have scheduled repayments of $15.0 million due in each of the next four quarters on our Term Loan Facility. As a result of extending the maturity of our Term Loan by two years we have scheduled repayments of $60.0 million in each of 2018 and 2019, and $45 million in 2020. 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 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 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	9 Months Ended
	Sep. 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 September 30, 2015 was $1,320.8 million compared to the carrying value of $1,352.8 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 September 30, 2015 and December 31, 2014 .

Inventories

Inventories	9 Months Ended
	Sep. 30, 2015
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories, net consisted of the following: September 30, December 31, (Amounts in thousands) 2015 2014 Raw materials $ 432,423 $ 352,928 Work in process 786,259 687,343 Finished goods 250,359 265,439 Less: Progress billings (271,231 ) (230,058 ) Less: Excess and obsolete reserve (81,365 ) (80,088 ) Inventories, net $ 1,116,445 $ 995,564

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 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 September 30, (Amounts in thousands, except per share data) 2015 2014 Net earnings of Flowserve Corporation $ 93,623 $ 128,562 Dividends on restricted shares not expected to vest 3 3 Earnings attributable to common and participating shareholders $ 93,626 $ 128,565 Weighted average shares: Common stock 132,036 136,100 Participating securities 514 567 Denominator for basic earnings per common share 132,550 136,667 Effect of potentially dilutive securities 610 862 Denominator for diluted earnings per common share 133,160 137,529 Earnings per common share: Basic $ 0.71 $ 0.94 Diluted 0.70 0.93 Nine Months Ended September 30, (Amounts in thousands, except per share data) 2015 2014 Net earnings of Flowserve Corporation $ 196,297 $ 359,808 Dividends on restricted shares not expected to vest 9 9 Earnings attributable to common and participating shareholders $ 196,306 $ 359,817 Weighted average shares: Common stock 133,389 136,612 Participating securities 513 584 Denominator for basic earnings per common share 133,902 137,196 Effect of potentially dilutive securities 747 936 Denominator for diluted earnings per common share 134,649 138,132 Earnings per common share: Basic $ 1.47 $ 2.62 Diluted 1.46 2.60 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	9 Months Ended
	Sep. 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 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 continue to cooperate with the DOJ and SEC. We previously 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	9 Months Ended
	Sep. 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 September 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 $ 6.0 $ 5.7 $ 2.1 $ 1.7 $ — $ — Interest cost 4.3 4.4 3.1 3.7 0.3 0.3 Expected return on plan assets (6.0 ) (5.5 ) (3.0 ) (2.7 ) — — Amortization of prior service cost 0.1 0.2 — 0.1 — — Amortization of unrecognized net loss (gain) 2.3 2.1 1.3 1.7 (0.1 ) (0.3 ) Net periodic cost recognized $ 6.7 $ 6.9 $ 3.5 $ 4.5 $ 0.2 $ — Components of the net periodic cost for retirement and postretirement benefits for the nine months ended September 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 $ 18.1 $ 17.2 $ 6.3 $ 5.2 $ — $ — Interest cost 12.8 13.1 9.3 11.1 0.9 0.9 Expected return on plan assets (18.1 ) (16.5 ) (9.0 ) (8.0 ) — — Amortization of prior service cost 0.3 0.4 — 0.2 0.1 — Amortization of unrecognized net loss (gain) 6.9 6.3 3.9 5.1 (0.4 ) (0.9 ) Net periodic cost recognized $ 20.0 $ 20.5 $ 10.5 $ 13.6 $ 0.6 $ —

Shareholders' Equity

Shareholders' Equity	9 Months Ended
	Sep. 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 2,378,700 shares of our outstanding common stock for $110.0 million , and 475,177 shares for $35.3 million , during the three months ended September 30, 2015 and 2014 , respectively. We repurchased 4,833,146 shares of our outstanding common stock for $249.7 million , and 2,485,481 shares for $188.3 million , during the nine months ended September 30, 2015 and 2014 , respectively. As of September 30, 2015 , we had $214.7 million of remaining capacity under our current share repurchase program.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the three months ended September 30, 2015 , we earned $146.6 million before taxes and provided for income taxes of $52.1 million resulting in an effective tax rate of 35.5% . For the nine months ended September 30, 2015 , we earned $312.3 million before taxes and provided for income taxes of $111.5 million resulting in an effective tax rate of 35.7% . The effective tax rate varied from the U.S. federal statutory rate for the three months ended September 30, 2015 primarily due to the net impact of foreign operations and the establishment of a valuation allowance against our deferred tax assets in Brazil in the amount of $10.0 million . The effective tax rate varied from the U.S. federal statutory rate for the nine months ended September 30, 2015 primarily due to tax impacts of the realignment programs, the Venezuelan exchange rate remeasurement loss and the establishment of a valuation allowance of $10.0 million against our deferred tax assets in Brazil, partially offset by the net impact of foreign operations. For the three months ended September 30, 2014 , we earned $183.3 million before taxes and provided for income taxes of $52.7 million , resulting in an effective tax rate of 28.8% . For the nine months ended September 30, 2014 , we earned $505.9 million before taxes and provided for income taxes of $141.5 million , resulting in an effective tax rate of 28.0% . The effective tax rate varied from the U.S. federal statutory rate for the three and nine months ended September 30, 2014 primarily due to the net impact of foreign operations. As of September 30, 2015 , the amount of unrecognized tax benefits increased by $11.7 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, Germany, India, Italy, Singapore, Spain, 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	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Segment Information	Segment Information During the first quarter of 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 September 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 $ 502,208 $ 227,502 $ 366,766 $ 1,096,476 $ — $ 1,096,476 Intersegment sales 12,298 14,137 1,168 27,603 (27,603 ) — Segment operating income 78,342 24,985 77,063 180,390 (12,541 ) 167,849 Three Months Ended September 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 $ 625,945 $ 192,655 $ 385,412 $ 1,204,012 $ — $ 1,204,012 Intersegment sales 15,537 10,482 1,545 27,564 (27,564 ) — Segment operating income 110,345 26,937 72,301 209,583 (17,140 ) 192,443 Nine Months Ended September 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 $ 1,533,955 $ 690,873 $ 1,048,514 $ 3,273,342 $ — $ 3,273,342 Intersegment sales 35,479 34,948 2,945 73,372 (73,372 ) — Segment operating income 233,264 18,716 186,266 438,246 (49,443 ) 388,803 Nine Months Ended September 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 $ 1,762,600 $ 562,031 $ 1,171,895 $ 3,496,526 $ — $ 3,496,526 Intersegment sales 43,147 31,121 4,421 78,689 (78,689 ) — Segment operating income 300,484 75,901 234,560 610,945 (59,863 ) 551,082

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss The following table presents the changes in accumulated other comprehensive loss ("AOCL"), net of tax for the three months ended September 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 - July 1 $ (331,301 ) $ (125,727 ) $ (6,929 ) $ (463,957 ) $ (79,220 ) $ (125,286 ) $ (711 ) $ (205,217 ) Other comprehensive (loss) income before reclassifications (54,494 ) 1,245 (35 ) (53,284 ) (100,195 ) 4,710 (2,804 ) (98,289 ) Amounts reclassified from AOCL — 2,443 1,573 4,016 — 2,568 7 2,575 Net current-period other comprehensive (loss) income (54,494 ) 3,688 1,538 (49,268 ) (100,195 ) 7,278 (2,797 ) (95,714 ) Balance - September 30 $ (385,795 ) $ (122,039 ) $ (5,391 ) $ (513,225 ) $ (179,415 ) $ (118,008 ) $ (3,508 ) $ (300,931 ) _______________________________________ (1) Includes foreign currency translation adjustments attributable to noncontrolling interests of $1.4 million and $1.3 million at July 1, 2015 and 2014, $2.7 million and $1.3 million at September 30, 2015 and 2014 , respectively. Includes net investment hedge losses of $0.7 million , net of deferred taxes, for the three months ended September 30, 2015 . Amounts in parentheses indicate debits. The following table presents the reclassifications out of AOCL: Three Months Ended September 30, (Amounts in thousands) Affected line item in the statement of income 2015(1) 2014(1) Cash flow hedging activity Foreign exchange contracts Sales $ (1,990 ) $ (15 ) Tax benefit 417 8 Net of tax $ (1,573 ) $ (7 ) Pension and other postretirement effects Amortization of actuarial losses(2) $ (3,465 ) $ (3,516 ) Prior service costs(2) (177 ) (169 ) Tax benefit 1,199 1,117 Net of tax $ (2,443 ) $ (2,568 ) _______________________________________ (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 nine months ended September 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 (147,262 ) 6,031 (6,739 ) (147,970 ) (91,239 ) 3,816 (2,947 ) (90,370 ) Amounts reclassified from AOCL — 7,328 6,558 13,886 1,777 7,704 253 9,734 Net current-period other comprehensive (loss) income (147,262 ) 13,359 (181 ) (134,084 ) (89,462 ) 11,520 (2,694 ) (80,636 ) Balance - September 30 $ (385,795 ) $ (122,039 ) $ (5,391 ) $ (513,225 ) $ (179,415 ) $ (118,008 ) $ (3,508 ) $ (300,931 ) _______________________________________ (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 $1.3 million at September 30, 2015 and 2014 , respectively. Includes net investment hedge losses of $9.3 million , net of deferred taxes, for the nine months ended September 30, 2015 . Amounts in parentheses indicate debits. The following table presents the reclassifications out of AOCL: Nine Months Ended September 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(2) Selling, general and administrative expense $ — $ (1,777 ) Tax benefit — — Net of tax $ — $ (1,777 ) Cash flow hedging activity Foreign exchange contracts Other expense, net $ (3,327 ) $ — Sales (5,694 ) (406 ) Tax benefit 2,463 153 Net of tax $ (6,558 ) $ (253 ) Pension and other postretirement effects Amortization of actuarial losses(3) $ (10,396 ) $ (10,547 ) Prior service costs(3) (530 ) (508 ) Tax benefit 3,598 3,351 Net of tax $ (7,328 ) $ (7,704 ) _______________________________________ (1) Amounts in parentheses indicate decreases to income. None of the reclass amounts have a noncontrolling interest component. (2) Previously disclosed as $(5.5) million in 2014. No incremental impact on our consolidated financial condition or result of operation. (3) These accumulated other comprehensive loss components are included in the computation of net periodic pension cost. See Note 10 for additional details. At September 30, 2015 , we expect to recognize a loss of $3.7 million , net of deferred taxes, into earnings in the next twelve months related to designated cash flow hedges based on their fair values at September 30, 2015 .	[1],[2],[3],[4],[5],[6]
[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 $1.3 million at September 30, 2015 and 2014, respectively. Includes net investment hedge losses of $9.3 million, net of deferred taxes, for the nine months ended September 30, 2015. Amounts in parentheses indicate debits.
[4]	Includes foreign currency translation adjustments attributable to noncontrolling interests of $1.4 million and $1.3 million at July 1, 2015 and 2014, $2.7 million and $1.3 million at September 30, 2015 and 2014, respectively. Includes net investment hedge losses of $0.7 million, net of deferred taxes, for the three months ended September 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	9 Months Ended
	Sep. 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 $50 million of which approximately $40 million is related to identified initiatives and is primarily restructuring, including related severance costs and primarily incurred by IPD. Realignment charges of $0.1 million were recorded in IPD for the three months ended September 30, 2015. Realignment charges of $29.0 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 nine months ended September 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 consolidation of facilities, a reduction in our workforce and the transfer of activities from high-cost regions to lower-cost facilities. We anticipate a total investment in this program of approximately $125 million , subject to final evaluation. 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, net of adjustments, were $1.7 million and $(0.1) million for the three months ended September 30, 2015 and 2014, respectively. Total realignment charges, net of adjustments, were $61.2 million and $1.8 million for the nine months ended September 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 $31.9 million and $1.1 million at September 30, 2015 and December 31, 2014 , respectively. R1 Realignment Program The following is a summary of total charges, net of adjustments, related to the R1 Realignment Program: (Amounts in thousands) Three Months Ended September 30, 2015 Nine Months Ended September 30, 2015 Restructuring Charges COS $ 57 $ 18,696 SG&A (434 ) 9,811 $ (377 ) $ 28,507 Non-Restructuring Charges COS $ — $ — SG&A 459 1,159 $ 459 $ 1,159 Total Realignment Program Charges COS $ 57 $ 18,696 SG&A 25 10,970 $ 82 $ 29,666 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 Adjustments, net of charges (377 ) Cash Expenditures (1 ) Other non-cash adjustments, including currency (419 ) Balance at September 30, 2015 $ 28,140 R2 Realignment Program The following is a summary of total charges, net of adjustments, related to the R2 Realignment Program for the three months ended September 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 $ 437 $ — $ 1,082 $ 1,519 $ — $ 1,519 SG&A $ 909 $ — $ (1,070 ) $ (161 ) $ — $ (161 ) $ 1,346 $ — $ 12 $ 1,358 $ — $ 1,358 Non-Restructuring Charges COS $ (27 ) $ 91 $ 59 $ 123 $ — $ 123 SG&A $ 453 $ (206 ) $ (128 ) $ 119 $ — $ 119 $ 426 $ (115 ) $ (69 ) $ 242 $ — $ 242 Total Realignment Program Charges COS $ 410 $ 91 $ 1,141 $ 1,642 $ — $ 1,642 SG&A $ 1,362 $ (206 ) $ (1,198 ) $ (42 ) $ — $ (42 ) $ 1,772 $ (115 ) $ (57 ) $ 1,600 $ — $ 1,600 The following is a summary of total charges, net of adjustments, related to the R2 Realignment Program for the nine months ended September 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 $ 547 $ — $ 2,101 $ 2,648 $ — $ 2,648 SG&A $ 1,031 $ — $ 1,272 $ 2,303 $ — $ 2,303 $ 1,578 $ — $ 3,373 $ 4,951 $ — $ 4,951 Non-Restructuring Charges COS $ 7,323 $ 1,019 $ 5,150 $ 13,492 $ — $ 13,492 SG&A $ 3,297 $ 988 $ 3,795 $ 8,080 $ — $ 8,080 $ 10,620 $ 2,007 $ 8,945 $ 21,572 $ — $ 21,572 Total Realignment Program Charges COS $ 7,870 $ 1,019 $ 7,251 $ 16,140 $ — $ 16,140 SG&A $ 4,328 $ 988 $ 5,067 $ 10,383 $ — $ 10,383 $ 12,198 $ 2,007 $ 12,318 $ 26,523 $ — $ 26,523 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. The following is a summary of Restructuring charges, net of adjustments, for the R2 Realignment Program the three months ended September 30, 2015 : (Amounts in thousands) Severance Contract Termination Asset Write-Downs Other Total COS $ 97 $ 158 $ 1,150 $ 114 $ 1,519 SG&A 390 — (641 ) 90 (161 ) Total $ 487 $ 158 $ 509 $ 204 $ 1,358 The following is a summary of Restructuring charges, net of adjustments, for the R2 Realignment Program the nine months ended September 30, 2015 : (Amounts in thousands) Severance Contract Termination Asset Write-Downs Other Total COS $ 1,070 $ 158 $ 1,257 $ 163 $ 2,648 SG&A 2,144 — (7 ) 166 2,303 Total $ 3,214 $ 158 $ 1,250 $ 329 $ 4,951 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 Charges, net of adjustments 848 Cash Expenditures (129 ) Other non-cash adjustments, including currency (975 ) Balance at September 30, 2015 $ 3,167

Basis of Presentation and Acc23

Basis of Presentation and Accounting Policies (Policies)	9 Months Ended
	Sep. 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 conform 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. In September 2015, the FASB issued ASU 2015-16, "Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments." The ASU eliminates the requirement to account for business combination measurement period adjustments retrospectively. Measurement period adjustments will now be recognized prospectively in the reporting period in which the adjustment amount is determined. The nature and amount of any measurement period adjustments recognized during the reporting period must be disclosed, including the value of the adjustment to each current period income statement line item relating to the income effects that would have been recognized in previous periods if the adjustment to provisional amounts were recognized as of the acquisition date. ASU 2015-16 is effective for periods beginning after December 15, 2015 and early adoption is permitted. 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 August 2015, the FASB issued ASU No. 2015-14, "Revenue from Contracts with Customers (Topic 606): Deferral of Effective Date." 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. In July 2015, the FASB issued ASU No. 2015-11, "Inventory (Topic 330): Simplifying the Measurement of Inventory." The ASU updates represent changes to simplify the subsequent measurement of inventory. Previous to the issuance of this ASU, ASC 330 required that an entity measure inventory at the lower of cost or market. The amendments of ASU 2015-11 update narrows that “market” requirement to “net realizable value,” which is defined by the ASU as the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. This ASU is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2016. Application of this ASU is to be made prospectively, earlier application is permitted as of the beginning of an interim or annual reporting period. The adoption of ASU No. 2015-11 is not expected to have a material impact on our consolidated financial condition and results of operations. In August 2015, the FASB issued ASU 2015-15, "Interest - Imputation of Interest (Subtopic 835-30): Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements—Amendments to SEC Paragraphs Pursuant to Staff Announcement at June 18, 2015 EITF Meeting (SEC Update)." The ASU clarifies the SEC staff’s position on presenting and measuring debt issuance costs incurred in connection with line-of-credit arrangements. The SEC staff has announced that it would "not object to an entity deferring and presenting debt issuance costs as an asset and subsequently amortizing the deferred debt issuance costs ratably over the term of the line-of-credit arrangement." The adoption of ASU No. 2015-15 is not expected to have a material impact on our consolidated financial condition and results of operations.
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.

Acquisitions and Disposition (T

Acquisitions and Disposition (Tables)	9 Months Ended
	Sep. 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: (Amounts in millions) January 7, 2015 (As originally reported) Measurement Period Adjustments January 7, 2015 (As adjusted) 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)	9 Months Ended
	Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Information Regarding Restricted Shares	The following table summarizes information regarding Restricted Shares: Nine Months Ended September 30, 2015 Shares Weighted Average Grant-Date Fair Value Number of unvested shares: Outstanding - January 1, 2015 1,856,548 $ 52.29 Granted 750,669 53.82 Vested (949,470 ) 42.84 Canceled (130,676 ) 60.59 Outstanding - September 30, 2015 1,527,071 $ 58.21

Derivative Instruments and He26

Derivative Instruments and Hedges (Tables)	9 Months Ended
	Sep. 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: September 30, December 31, (Amounts in thousands) 2015 2014 Current derivative assets $ 3,546 $ 11,709 Noncurrent derivative assets 3 6 Current derivative liabilities 3,200 6,168 Noncurrent derivative liabilities 219 348
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: September 30, December 31, (Amounts in thousands) 2015 2014 Current derivative assets $ 164 $ — Current derivative liabilities $ 3,236 $ 6,952 Noncurrent derivative liabilities 28 411
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 September 30, Nine Months Ended September 30, (Amounts in thousands) 2015 2014 2015 2014 Gain recognized in income $ 4,391 $ 1,615 $ 31,372 $ 1,738

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Debt Including Capital Lease Obligations	Debt, including capital lease obligations, consisted of: September 30, December 31, (Amounts in thousands, except percentages) 2015 2014 1.25% EUR Senior Notes due March 17, 2022, net of unamortized discount $ 555,364 $ — 4.00% USD Senior Notes due November 15, 2023, net of unamortized discount 298,822 298,731 3.50% USD Senior Notes due September 15, 2022, net of unamortized discount 498,591 498,460 Term Loan Facility, interest rate of 1.58% at September 30, 2015 and 1.51% at December 31, 2014 300,000 330,000 Capital lease obligations and other borrowings 26,175 27,731 Debt and capital lease obligations 1,678,952 1,154,922 Less amounts due within one year 68,893 53,131 Total debt due after one year $ 1,610,059 $ 1,101,791

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2015
Inventory Disclosure [Abstract]
Net Components of Inventory	Inventories, net consisted of the following: September 30, December 31, (Amounts in thousands) 2015 2014 Raw materials $ 432,423 $ 352,928 Work in process 786,259 687,343 Finished goods 250,359 265,439 Less: Progress billings (271,231 ) (230,058 ) Less: Excess and obsolete reserve (81,365 ) (80,088 ) Inventories, net $ 1,116,445 $ 995,564

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 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 September 30, (Amounts in thousands, except per share data) 2015 2014 Net earnings of Flowserve Corporation $ 93,623 $ 128,562 Dividends on restricted shares not expected to vest 3 3 Earnings attributable to common and participating shareholders $ 93,626 $ 128,565 Weighted average shares: Common stock 132,036 136,100 Participating securities 514 567 Denominator for basic earnings per common share 132,550 136,667 Effect of potentially dilutive securities 610 862 Denominator for diluted earnings per common share 133,160 137,529 Earnings per common share: Basic $ 0.71 $ 0.94 Diluted 0.70 0.93 Nine Months Ended September 30, (Amounts in thousands, except per share data) 2015 2014 Net earnings of Flowserve Corporation $ 196,297 $ 359,808 Dividends on restricted shares not expected to vest 9 9 Earnings attributable to common and participating shareholders $ 196,306 $ 359,817 Weighted average shares: Common stock 133,389 136,612 Participating securities 513 584 Denominator for basic earnings per common share 133,902 137,196 Effect of potentially dilutive securities 747 936 Denominator for diluted earnings per common share 134,649 138,132 Earnings per common share: Basic $ 1.47 $ 2.62 Diluted 1.46 2.60

Retirement and Postretirement30

Retirement and Postretirement Benefits (Tables)	9 Months Ended
	Sep. 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 September 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 $ 6.0 $ 5.7 $ 2.1 $ 1.7 $ — $ — Interest cost 4.3 4.4 3.1 3.7 0.3 0.3 Expected return on plan assets (6.0 ) (5.5 ) (3.0 ) (2.7 ) — — Amortization of prior service cost 0.1 0.2 — 0.1 — — Amortization of unrecognized net loss (gain) 2.3 2.1 1.3 1.7 (0.1 ) (0.3 ) Net periodic cost recognized $ 6.7 $ 6.9 $ 3.5 $ 4.5 $ 0.2 $ — Components of the net periodic cost for retirement and postretirement benefits for the nine months ended September 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 $ 18.1 $ 17.2 $ 6.3 $ 5.2 $ — $ — Interest cost 12.8 13.1 9.3 11.1 0.9 0.9 Expected return on plan assets (18.1 ) (16.5 ) (9.0 ) (8.0 ) — — Amortization of prior service cost 0.3 0.4 — 0.2 0.1 — Amortization of unrecognized net loss (gain) 6.9 6.3 3.9 5.1 (0.4 ) (0.9 ) Net periodic cost recognized $ 20.0 $ 20.5 $ 10.5 $ 13.6 $ 0.6 $ —

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 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 September 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 $ 502,208 $ 227,502 $ 366,766 $ 1,096,476 $ — $ 1,096,476 Intersegment sales 12,298 14,137 1,168 27,603 (27,603 ) — Segment operating income 78,342 24,985 77,063 180,390 (12,541 ) 167,849 Three Months Ended September 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 $ 625,945 $ 192,655 $ 385,412 $ 1,204,012 $ — $ 1,204,012 Intersegment sales 15,537 10,482 1,545 27,564 (27,564 ) — Segment operating income 110,345 26,937 72,301 209,583 (17,140 ) 192,443 Nine Months Ended September 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 $ 1,533,955 $ 690,873 $ 1,048,514 $ 3,273,342 $ — $ 3,273,342 Intersegment sales 35,479 34,948 2,945 73,372 (73,372 ) — Segment operating income 233,264 18,716 186,266 438,246 (49,443 ) 388,803 Nine Months Ended September 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 $ 1,762,600 $ 562,031 $ 1,171,895 $ 3,496,526 $ — $ 3,496,526 Intersegment sales 43,147 31,121 4,421 78,689 (78,689 ) — Segment operating income 300,484 75,901 234,560 610,945 (59,863 ) 551,082

Accumulated Other Comprehensi32

Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Sep. 30, 2015	[1],[2],[3],[4],[5]
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table presents the changes in accumulated other comprehensive loss ("AOCL"), net of tax for the nine months ended September 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 (147,262 ) 6,031 (6,739 ) (147,970 ) (91,239 ) 3,816 (2,947 ) (90,370 ) Amounts reclassified from AOCL — 7,328 6,558 13,886 1,777 7,704 253 9,734 Net current-period other comprehensive (loss) income (147,262 ) 13,359 (181 ) (134,084 ) (89,462 ) 11,520 (2,694 ) (80,636 ) Balance - September 30 $ (385,795 ) $ (122,039 ) $ (5,391 ) $ (513,225 ) $ (179,415 ) $ (118,008 ) $ (3,508 ) $ (300,931 ) _______________________________________ (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 $1.3 million at September 30, 2015 and 2014 , respectively. Includes net investment hedge losses of $9.3 million , net of deferred taxes, for the nine months ended September 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 September 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 - July 1 $ (331,301 ) $ (125,727 ) $ (6,929 ) $ (463,957 ) $ (79,220 ) $ (125,286 ) $ (711 ) $ (205,217 ) Other comprehensive (loss) income before reclassifications (54,494 ) 1,245 (35 ) (53,284 ) (100,195 ) 4,710 (2,804 ) (98,289 ) Amounts reclassified from AOCL — 2,443 1,573 4,016 — 2,568 7 2,575 Net current-period other comprehensive (loss) income (54,494 ) 3,688 1,538 (49,268 ) (100,195 ) 7,278 (2,797 ) (95,714 ) Balance - September 30 $ (385,795 ) $ (122,039 ) $ (5,391 ) $ (513,225 ) $ (179,415 ) $ (118,008 ) $ (3,508 ) $ (300,931 ) _______________________________________ (1) Includes foreign currency translation adjustments attributable to noncontrolling interests of $1.4 million and $1.3 million at July 1, 2015 and 2014, $2.7 million and $1.3 million at September 30, 2015 and 2014 , respectively. Includes net investment hedge losses of $0.7 million , net of deferred taxes, for the three months ended September 30, 2015 . Amounts in parentheses indicate debits.
Reclassifications out of Accumulated Other Comprehensive Income (Loss)	The following table presents the reclassifications out of AOCL: Three Months Ended September 30, (Amounts in thousands) Affected line item in the statement of income 2015(1) 2014(1) Cash flow hedging activity Foreign exchange contracts Sales $ (1,990 ) $ (15 ) Tax benefit 417 8 Net of tax $ (1,573 ) $ (7 ) Pension and other postretirement effects Amortization of actuarial losses(2) $ (3,465 ) $ (3,516 ) Prior service costs(2) (177 ) (169 ) Tax benefit 1,199 1,117 Net of tax $ (2,443 ) $ (2,568 ) _______________________________________ (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: Nine Months Ended September 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(2) Selling, general and administrative expense $ — $ (1,777 ) Tax benefit — — Net of tax $ — $ (1,777 ) Cash flow hedging activity Foreign exchange contracts Other expense, net $ (3,327 ) $ — Sales (5,694 ) (406 ) Tax benefit 2,463 153 Net of tax $ (6,558 ) $ (253 ) Pension and other postretirement effects Amortization of actuarial losses(3) $ (10,396 ) $ (10,547 ) Prior service costs(3) (530 ) (508 ) Tax benefit 3,598 3,351 Net of tax $ (7,328 ) $ (7,704 ) _______________________________________ (1) Amounts in parentheses indicate decreases to income. None of the reclass amounts have a noncontrolling interest component. (2) Previously disclosed as $(5.5) million in 2014. No incremental impact on our consolidated financial condition or result of operation. (3) These accumulated other comprehensive loss components are included in the computation of net periodic pension cost. See Note 10 for additional details.	[6]
[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 $1.4 million and $1.3 million at July 1, 2015 and 2014, $2.7 million and $1.3 million at September 30, 2015 and 2014, respectively. Includes net investment hedge losses of $0.7 million, net of deferred taxes, for the three months ended September 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 $1.3 million at September 30, 2015 and 2014, respectively. Includes net investment hedge losses of $9.3 million, net of deferred taxes, for the nine months ended September 30, 2015. Amounts in parentheses indicate debits.

Realignment Programs (Tables)

Realignment Programs (Tables)	9 Months Ended
	Sep. 30, 2015
R1 Realignment Program
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Costs [Table Text Block]	The following is a summary of total charges, net of adjustments, related to the R1 Realignment Program: (Amounts in thousands) Three Months Ended September 30, 2015 Nine Months Ended September 30, 2015 Restructuring Charges COS $ 57 $ 18,696 SG&A (434 ) 9,811 $ (377 ) $ 28,507 Non-Restructuring Charges COS $ — $ — SG&A 459 1,159 $ 459 $ 1,159 Total Realignment Program Charges COS $ 57 $ 18,696 SG&A 25 10,970 $ 82 $ 29,666
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 Adjustments, net of charges (377 ) Cash Expenditures (1 ) Other non-cash adjustments, including currency (419 ) Balance at September 30, 2015 $ 28,140
R2 Realignment Program
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Costs [Table Text Block]	Restructuring charges, net of adjustments, for the R2 Realignment Program the three months ended September 30, 2015 : (Amounts in thousands) Severance Contract Termination Asset Write-Downs Other Total COS $ 97 $ 158 $ 1,150 $ 114 $ 1,519 SG&A 390 — (641 ) 90 (161 ) Total $ 487 $ 158 $ 509 $ 204 $ 1,358 The following is a summary of Restructuring charges, net of adjustments, for the R2 Realignment Program the nine months ended September 30, 2015 : (Amounts in thousands) Severance Contract Termination Asset Write-Downs Other Total COS $ 1,070 $ 158 $ 1,257 $ 163 $ 2,648 SG&A 2,144 — (7 ) 166 2,303 Total $ 3,214 $ 158 $ 1,250 $ 329 $ 4,951 The following is a summary of total charges, net of adjustments, related to the R2 Realignment Program for the three months ended September 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 $ 437 $ — $ 1,082 $ 1,519 $ — $ 1,519 SG&A $ 909 $ — $ (1,070 ) $ (161 ) $ — $ (161 ) $ 1,346 $ — $ 12 $ 1,358 $ — $ 1,358 Non-Restructuring Charges COS $ (27 ) $ 91 $ 59 $ 123 $ — $ 123 SG&A $ 453 $ (206 ) $ (128 ) $ 119 $ — $ 119 $ 426 $ (115 ) $ (69 ) $ 242 $ — $ 242 Total Realignment Program Charges COS $ 410 $ 91 $ 1,141 $ 1,642 $ — $ 1,642 SG&A $ 1,362 $ (206 ) $ (1,198 ) $ (42 ) $ — $ (42 ) $ 1,772 $ (115 ) $ (57 ) $ 1,600 $ — $ 1,600 The following is a summary of total charges, net of adjustments, related to the R2 Realignment Program for the nine months ended September 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 $ 547 $ — $ 2,101 $ 2,648 $ — $ 2,648 SG&A $ 1,031 $ — $ 1,272 $ 2,303 $ — $ 2,303 $ 1,578 $ — $ 3,373 $ 4,951 $ — $ 4,951 Non-Restructuring Charges COS $ 7,323 $ 1,019 $ 5,150 $ 13,492 $ — $ 13,492 SG&A $ 3,297 $ 988 $ 3,795 $ 8,080 $ — $ 8,080 $ 10,620 $ 2,007 $ 8,945 $ 21,572 $ — $ 21,572 Total Realignment Program Charges COS $ 7,870 $ 1,019 $ 7,251 $ 16,140 $ — $ 16,140 SG&A $ 4,328 $ 988 $ 5,067 $ 10,383 $ — $ 10,383 $ 12,198 $ 2,007 $ 12,318 $ 26,523 $ — $ 26,523
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 Charges, net of adjustments 848 Cash Expenditures (129 ) Other non-cash adjustments, including currency (975 ) Balance at September 30, 2015 $ 3,167

Basis of Presentation and Acc34

Basis of Presentation and Accounting Policies (Details) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2015VEF / $	Mar. 31, 2015USD ($)	Sep. 30, 2015USD ($)VEF / $	Sep. 30, 2014USD ($)	Dec. 31, 2014
Financial Statement Line Items with Differences in Reported Amount and Reporting Currency Denominated Amounts [Line Items]
Remeasurement loss			$ 54,635	$ 22,174
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 0.5%)	0.50%		0.50%
Segment Assets Percentage Of Consolidated Assets (less than 0.5%)	0.50%		0.50%
Percentage of outstanding accounts receivable	8.00%		8.00%
Percentage of Receivables Re-classed to Long Term			62.00%		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 / $	199.42		199.42
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 / $	13.5		13.5

Acquisitions and Disposition (D

Acquisitions and Disposition (Details) $ in Thousands, € in Millions	Jan. 07, 2015USD ($)	Jan. 07, 2015EUR (€)	Mar. 31, 2014USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Mar. 31, 2014USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Nov. 30, 2014EUR (€)	Dec. 31, 2014USD ($)
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract]
Goodwill				$ 1,234,858			$ 1,234,858			$ 1,067,255
Measurement Period Adjustments
Sales				1,096,476	$ 1,204,012		3,273,342	$ 3,496,526
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
Inventories	74,000
Prepaid expenses and other	17,700
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
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life (in years) (less than for one year)	9 years	9 years
Sales				74,000			218,000
Business Acquisition Impact On Operating Income (less than for the $0.1 million)				$ 100			$ (38,000)
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
Inventories	74,000
Prepaid expenses and other	17,200
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 (in years) (less than for one year)	10 years	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 (in years) (less than for one year)	1 year	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 (in years) (less than for one year)	10 years	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		9 Months Ended
	Sep. 30, 2015USD ($)shares	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)periodshares	Sep. 30, 2014USD ($)	Jun. 30, 2015shares	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		8,700,000
Common stock available under stock option plan	4,179,568		4,179,568
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]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $	$ 38.4		$ 38.4			$ 30.6
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition			1 year
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) | $	1.3	$ 0.1	$ 40.7	$ 34.5
Allocated Share-based Compensation Expense, Net of Tax | $	5.7	5.5	17.2	17.6
Allocated Share-based Compensation Expense | $	$ 8.6	$ 8.4	$ 26	$ 26.7
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number	1,527,071		1,527,071			1,856,548
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					813,000
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period (in years)			3 years
Period for achieving performance targets on performance based units (periods) | period			3
Vesting period (in months)			36 months
Minimum range of vesting provisions	0		0
Maximum range of vesting provisions	1,486,000		1,486,000
Estimated vesting of shares based on performance shares					971,000
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) - Restricted Stock	9 Months Ended
	Sep. 30, 2015$ / sharesshares
Shares
Outstanding, Shares, Beginning balance	1,856,548
Granted, Shares	750,669
Vested, Shares	(949,470)
Canceled, Shares	(130,676)
Outstanding, Shares, Ending balance	1,527,071
Weighted Average Grant-Date Fair Value
Outstanding, Weighted Average Grant-Date Fair Value, Beginning balance | $ / shares	$ 52.29
Granted, Weighted Average Grant-Date Fair Value | $ / shares	53.82
Vested, Weighted Average Grant-Date Fair Value | $ / shares	42.84
Cancelled, Weighted Average Grant-Date Fair Value | $ / shares	60.59
Outstanding, Weighted Average Grant-Date Fair Value, Ending balance | $ / shares	$ 58.21

Derivative Instruments and He38

Derivative Instruments and Hedges (Details Textual) € in Millions	9 Months Ended
	Sep. 30, 2015USD ($)	Mar. 17, 2015EUR (€)	Dec. 31, 2014USD ($)
Forward Exchange Contract
Derivative [Line Items]
Lower maturity range (days)	1 day
Higher maturity range (months)	28 months
Interest Rate Swap
Derivative [Line Items]
Derivative, notional amount	$ 0		$ 40,000,000
Designated as Hedging Instrument | Forward Exchange Contract
Derivative [Line Items]
Derivative, notional amount	42,700,000		125,900,000
Not Designated as Hedging Instrument | Forward Exchange Contract
Derivative [Line Items]
Derivative, notional amount	$ 528,100,000		$ 421,100,000
2022 EUR Senior Notes
Derivative [Line Items]
Designated Amount, Net Investment Hedge | €		€ 255.7
Debt Instrument, Face Amount | €		€ 500

Derivative Instruments and He39

Derivative Instruments and Hedges (Fair Value Balance Sheet Disclosures) (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Not Designated as Hedging Instrument | Foreign Exchange Contract
Derivative [Line Items]
Current derivative assets	$ 3,546	$ 11,709
Noncurrent derivative assets	3	6
Current derivative liabilities	3,200	6,168
Noncurrent derivative liabilities	219	348
Designated as Hedging Instrument | Foreign Exchange Contract
Derivative [Line Items]
Current derivative assets	164
Current derivative liabilities	3,236
Noncurrent derivative liabilities	$ 28
Designated as Hedging Instrument | Interest Rate Swaps and Foreign Exchange Contracts
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		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Forward Contracts
Derivative [Line Items]
Gain recognized in income	$ 4,391	$ 1,615	$ 31,372	$ 1,738

Debt (Schedule of Debt) (Detail

Debt (Schedule of Debt) (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Mar. 17, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Capital lease obligations and other borrowings	$ 26,175		$ 27,731
Debt and capital lease obligations	1,678,952		1,154,922
Less amounts due within one year	68,893		53,131
Total debt due after one year	1,610,059		1,101,791
Stated interest rate (as a percent)		1.25%
2022 EUR Senior Notes
Debt Instrument [Line Items]
Long-term Debt	$ 555,364		$ 0
Stated interest rate (as a percent)	1.25%		0.00%
2023 Senior Notes
Debt Instrument [Line Items]
Long-term Debt	$ 298,822		$ 298,731
Stated interest rate (as a percent)	4.00%		4.00%
2022 Senior notes
Debt Instrument [Line Items]
Long-term Debt	$ 498,591		$ 498,460
Stated interest rate (as a percent)	3.50%		3.50%
Term Loan Facility
Debt Instrument [Line Items]
Term Loan Facility	$ 300,000		$ 330,000
Effective interest rate (as a percent)	1.58%		1.51%

Debt (Details Textual)

Debt (Details Textual) € in Millions	Oct. 14, 2015	Mar. 17, 2015USD ($)	Mar. 17, 2015EUR (€)	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Jun. 30, 2015USD ($)	Dec. 31, 2014USD ($)	Oct. 04, 2013USD ($)
Line of Credit Facility [Line Items]
Stated interest rate (as a percent)			1.25%
Price of senior notes, stated as percentage of principal amount			99.336%
Proceeds from Issuance of Debt		$ 526,300,000	€ 496.7
Domestic subsidiaries unconditional guarantee				100.00%
Payments on long-term debt				$ 30,000,000	$ 30,000,000
Term Loan Facility
Line of Credit Facility [Line Items]
Debt Instrument Amended Maturity Period by Two Years				2 years
Credit Agreement Maximum Borrowing Capacity in Additional Borrowing				$ 400,000,000
Payments on long-term debt				30,000,000
Term Loan Facility | Scenario, Forecast
Line of Credit Facility [Line Items]
Credit Facilities Scheduled Repayment Due in Two Years				60,000,000
Credit Facilities Scheduled Repayment Due in Four Years				45,000,000
Revolving Credit Facility
Line of Credit Facility [Line Items]
Credit Agreement Maximum Borrowing Capacity in Additional Borrowing				400,000,000
Revolving Credit Facility						$ 0	$ 0
Line of Credit Facility, Current Borrowing Capacity				$ 903,100,000			923,200,000
Senior Credit Facility
Line of Credit Facility [Line Items]
Debt Instrument, Maximum Permitted Leverage Ratio				3.25
Letters of credit outstanding				$ 96,900,000			$ 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				$ 15,000,000
2022 EUR Senior Notes
Line of Credit Facility [Line Items]
Debt Instrument, Face Amount | €			€ 500
Subsequent Event | Term Loan Facility
Line of Credit Facility [Line Items]
Debt Instrument, Face Amount								$ 400,000,000
Subsequent Event | Revolving Credit Facility
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity								$ 1,000,000,000
Subsequent Event | Senior Credit Facility
Line of Credit Facility [Line Items]
Debt Instrument Amended Maturity Period by Two Years	2 years
Line of Credit Facility, Expiration Date	Oct. 14, 2020
Line of Credit Facility, Amended Commitment Fee Percentage	0.15%
Debt instrument, Amended Maximum Permitted Leverage Ratio, Debt to Total Consolidated EBITDA	3.5

Fair Value (Details)

Fair Value (Details) $ in Millions	Sep. 30, 2015USD ($)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	$ 1,352.8
Estimate of Fair Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	$ 1,320.8

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Net Components of Inventory
Raw materials	$ 432,423	$ 352,928
Work in process	786,259	687,343
Finished goods	250,359	265,439
Less: Progress billings	(271,231)	(230,058)
Less: Excess and obsolete reserve	(81,365)	(80,088)
Inventories, net	$ 1,116,445	$ 995,564

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Earnings Per Share [Abstract]
Net earnings of Flowserve Corporation	$ 93,623	$ 128,562	$ 196,297	$ 359,808
Dividends on restricted shares not expected to vest	3	3	9	9
Earnings attributable to common and participating shareholders	$ 93,626	$ 128,565	$ 196,306	$ 359,817
Weighted average shares:
Common stock	132,036	136,100	133,389	136,612
Participating securities	514	567	513	584
Denominator for basic earnings per common share	132,550	136,667	133,902	137,196
Effect of potentially dilutive securities	610	862	747	936
Denominator for diluted earnings per common share	133,160	137,529	134,649	138,132
Earnings per common share:
Basic (in dollars per share)	$ 0.71	$ 0.94	$ 1.47	$ 2.62
Diluted (in dollars per share)	$ 0.70	$ 0.93	$ 1.46	$ 2.60

Legal Matters and Contingenci46

Legal Matters and Contingencies (Details)	Sep. 30, 2015sitecompany
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		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
U.S. Defined Benefit Plans
Components of the net periodic cost for retirement and postretirement benefits
Service cost	$ 6	$ 5.7	$ 18.1	$ 17.2
Interest cost	4.3	4.4	12.8	13.1
Expected return on plan assets	(6)	(5.5)	(18.1)	(16.5)
Amortization of prior service cost	0.1	0.2	0.3	0.4
Amortization of unrecognized net loss (gain)	2.3	2.1	6.9	6.3
Net periodic cost recognized	6.7	6.9	20	20.5
Non-U.S. Defined Benefit Plans
Components of the net periodic cost for retirement and postretirement benefits
Service cost	2.1	1.7	6.3	5.2
Interest cost	3.1	3.7	9.3	11.1
Expected return on plan assets	(3)	(2.7)	(9)	(8)
Amortization of prior service cost	0	0.1	0	0.2
Amortization of unrecognized net loss (gain)	1.3	1.7	3.9	5.1
Net periodic cost recognized	3.5	4.5	10.5	13.6
Postretirement Medical Benefits
Components of the net periodic cost for retirement and postretirement benefits
Service cost	0	0	0	0
Interest cost	0.3	0.3	0.9	0.9
Expected return on plan assets	0	0	0	0
Amortization of prior service cost	0	0	0.1	0
Amortization of unrecognized net loss (gain)	(0.1)	(0.3)	(0.4)	(0.9)
Net periodic cost recognized	$ 0.2	$ 0	$ 0.6	$ 0

Shareholders' Equity (Details)

Shareholders' Equity (Details) - USD ($) $ / shares in Units, $ in Millions	Feb. 16, 2015	Feb. 17, 2014	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Nov. 13, 2014	Nov. 12, 2014
Equity, Class of Treasury Stock [Line Items]
Cash dividends declared per share (in dollars per share)			$ 0.18	$ 0.16	$ 0.54	$ 0.48
Remaining authorized repurchase capacity			$ 214.7		$ 214.7
Repurchase of shares (in shares)			2,378,700	475,177	4,833,146	2,485,481
Repurchases of shares, value			$ 110	$ 35.3	$ 249.7	$ 188.3
Share repurchase program 2014
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]
Cash dividends declared per share (in dollars per share)	$ 0.16	$ 0.14
Maximum
Equity, Class of Treasury Stock [Line Items]
Cash dividends declared per share (in dollars per share)	$ 0.18	$ 0.16

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Income Tax Disclosure [Abstract]
Income before income tax	$ 146,635	$ 183,325	$ 312,337	$ 505,885
Provision for income taxes	$ 52,099	$ 52,725	$ 111,525	$ 141,533
Effective tax rate (as a percent)	35.50%	28.80%	35.70%	28.00%
Deferred Tax Assets, Valuation Allowance	$ 10,000		$ 10,000
Change in unrecognized tax benefits for the period			11,700
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		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Summarized financial information of the reportable segments
Sales	$ 1,096,476	$ 1,204,012	$ 3,273,342	$ 3,496,526
Segment operating income	167,849	192,443	388,803	551,082
Intersegment sales
Summarized financial information of the reportable segments
Sales	0	0	0	0
Engineered Product Division
Summarized financial information of the reportable segments
Sales	502,208	625,945	1,533,955	1,762,600
Segment operating income	78,342	110,345	233,264	300,484
Engineered Product Division | Intersegment sales
Summarized financial information of the reportable segments
Sales	12,298	15,537	35,479	43,147
Industrial Product Division
Summarized financial information of the reportable segments
Sales	227,502	192,655	690,873	562,031
Segment operating income	24,985	26,937	18,716	75,901
Industrial Product Division | Intersegment sales
Summarized financial information of the reportable segments
Sales	14,137	10,482	34,948	31,121
Flow Control Division
Summarized financial information of the reportable segments
Sales	366,766	385,412	1,048,514	1,171,895
Segment operating income	77,063	72,301	186,266	234,560
Flow Control Division | Intersegment sales
Summarized financial information of the reportable segments
Sales	1,168	1,545	2,945	4,421
Subtotal–Reportable Segments
Summarized financial information of the reportable segments
Sales	1,096,476	1,204,012	3,273,342	3,496,526
Segment operating income	180,390	209,583	438,246	610,945
Subtotal–Reportable Segments | Intersegment sales
Summarized financial information of the reportable segments
Sales	27,603	27,564	73,372	78,689
Eliminations and All Other
Summarized financial information of the reportable segments
Sales	0	0	0	0
Segment operating income	(12,541)	(17,140)	(49,443)	(59,863)
Eliminations and All Other | Intersegment sales
Summarized financial information of the reportable segments
Sales	$ (27,603)	$ (27,564)	$ (73,372)	$ (78,689)

Accumulated Other Comprehensi51

Accumulated Other Comprehensive Loss (Components of AOCI) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014	Dec. 31, 2013
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	$ (463,957)	$ (205,217)	$ (379,141)	$ (220,295)
Other comprehensive (loss) income before reclassifications	(53,284)	(98,289)	(147,970)	(90,370)
Amounts reclassified from AOCL	4,016	2,575	13,886	9,734
Net current-period other comprehensive (loss) income	(49,268)	(95,714)	(134,084)	(80,636)
Ending balance	(513,225)	(300,931)	(513,225)	(300,931)
Accumulated Other Comprehensive Income (Loss), accumulated Net Gain (Loss) from Net investment hedge	700		9,300
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net	3,700		3,700
Foreign currency translation items
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(331,301)	(79,220)	(238,533)	(89,953)
Other comprehensive (loss) income before reclassifications	(54,494)	(100,195)	(147,262)	(91,239)
Amounts reclassified from AOCL	0	0	0	1,777
Net current-period other comprehensive (loss) income	(54,494)	(100,195)	(147,262)	(89,462)
Ending balance	(385,795)	(179,415)	(385,795)	(179,415)
Pension and other post-retirement effects
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(125,727)	(125,286)	(135,398)	(129,528)
Other comprehensive (loss) income before reclassifications	1,245	4,710	6,031	3,816
Amounts reclassified from AOCL	2,443	2,568	7,328	7,704
Net current-period other comprehensive (loss) income	3,688	7,278	13,359	11,520
Ending balance	(122,039)	(118,008)	(122,039)	(118,008)
Cash flow hedging activity
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(6,929)	(711)	(5,210)	(814)
Other comprehensive (loss) income before reclassifications	(35)	(2,804)	(6,739)	(2,947)
Amounts reclassified from AOCL	1,573	7	6,558	253
Net current-period other comprehensive (loss) income	1,538	(2,797)	(181)	(2,694)
Ending balance	(5,391)	(3,508)	(5,391)	(3,508)
Noncontrolling Interest
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax	$ 2,700	$ 1,300	$ 2,700	$ 1,300	$ 1,400	$ 1,300	$ 1,300	$ 1,200

Accumulated Other Comprehensi52

Accumulated Other Comprehensive Loss (Reclassifications out of AOCI) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015		Sep. 30, 2014
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest Expense	$ 16,283	$ 15,130	$ 47,712		$ 45,306
Other expense, net	(5,430)	5,612	(30,258)		(1,129)
Sales	1,096,476	1,204,012	3,273,342		3,496,526
Tax (expense) or benefit	(52,099)	(52,725)	(111,525)		(141,533)
Net earnings attributable to Flowserve Corporation	93,623	128,562	196,297		359,808
Foreign currency translation items | Reclassification out of AOCI [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Divestiture Of Businesses OCIL Foreign Currency Transaction And Translation Adjustment Before Tax			0		(1,777)
Tax (expense) or benefit			0		0
Net earnings attributable to Flowserve Corporation			0	[1]	(1,777)
Cash flow hedging activity | Reclassification out of AOCI [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest Expense	1,990	15
Other expense, net			(3,327)		0
Sales			(5,694)		(406)
Tax (expense) or benefit	417	8	2,463		153
Net earnings attributable to Flowserve Corporation	(1,573)	(7)	(6,558)		(253)
Pension and other post-retirement effects | Reclassification out of AOCI [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amortization of actuarial losses	(3,465)	(3,516)	(10,396)		(10,547)
Prior service costs	(177)	(169)	(530)		(508)
Tax (expense) or benefit	1,199	1,117	3,598		3,351
Net earnings attributable to Flowserve Corporation	$ (2,443)	$ (2,568)	$ (7,328)	[1]	(7,704)	[1]
As originally reported | Foreign currency translation items | 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					$ (5,500)
[1]	Includes foreign currency translation adjustments attributable to noncontrolling interests of $1.4 million and $1.3 million at July 1, 2015 and 2014, $2.7 million and $1.3 million at September 30, 2015 and 2014, respectively. Includes net investment hedge losses of $0.7 million, net of deferred taxes, for the three months ended September 30, 2015. Amounts in parentheses indicate debits.

Realignment Programs (Details)

Realignment Programs (Details) - USD ($) $ in Thousands	3 Months Ended				9 Months Ended
	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	$ 1,700			$ (100)	$ 61,200	$ 1,800
Restructuring Reserve	31,900		$ 1,100		1,100		$ 31,900
Restructuring Reserve [Roll Forward]
Beginning Balance			1,100		1,100
Ending Balance	31,900				31,900
R1 Realignment Program
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost							50,000
Expected Realignment Program Charges					40,000
Restructuring Reserve	28,937	$ 20,304	0		0		28,140
Restructuring Charges	(377)	8,001	20,883		28,507
Non-Restructuring Charges	459				1,159
Total Realignment Program Charges	82				29,666
Restructuring Reserve [Roll Forward]
Beginning Balance	28,937	20,304	0		0
Charges	(377)	8,001	20,883		28,507
Cash Expenditures	(1)	(243)	0
Other non-cash adjustments, including currency	(419)	875	(579)
Ending Balance	28,140	28,937	20,304		28,140
R1 Realignment Program | Engineered Product Division
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost					700
R1 Realignment Program | Industrial Product Division
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	100				29,000
R1 Realignment Program | Flow Control Division
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost					5,500
R1 Realignment Program | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	57				18,696
Non-Restructuring Charges	0				0
Total Realignment Program Charges	57				18,696
Restructuring Reserve [Roll Forward]
Charges	57				18,696
R1 Realignment Program | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	(434)				9,811
Non-Restructuring Charges	459				1,159
Total Realignment Program Charges	25				10,970
Restructuring Reserve [Roll Forward]
Charges	(434)				9,811
R2 Realignment Program
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost							125,000
Restructuring Reserve	3,423	0	0		3,167		$ 3,167
Restructuring Charges	1,358	2,852			4,951
Non-Restructuring Charges	242				21,572
Total Realignment Program Charges	1,600				26,523
Restructuring Charges	1,358				4,951
Charges, net of adjustments	848
Restructuring Reserve [Roll Forward]
Beginning Balance	3,423	0
Charges	1,358	2,852			4,951
Cash Expenditures	(129)	(166)
Other non-cash adjustments, including currency	(975)	737
Ending Balance	3,167	$ 3,423	$ 0		3,167
R2 Realignment Program | Severance
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	487				3,214
Restructuring Reserve [Roll Forward]
Charges	487				3,214
R2 Realignment Program | Contract Termination
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	158				158
Restructuring Reserve [Roll Forward]
Charges	158				158
R2 Realignment Program | Asset Write-Downs
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	509				1,250
Restructuring Reserve [Roll Forward]
Charges	509				1,250
R2 Realignment Program | Other
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	204				329
Restructuring Reserve [Roll Forward]
Charges	204				329
R2 Realignment Program | Engineered Product Division
Restructuring Cost and Reserve [Line Items]
Non-Restructuring Charges	426				10,620
Total Realignment Program Charges	1,772				12,198
Restructuring Charges	1,346				1,578
R2 Realignment Program | Industrial Product Division
Restructuring Cost and Reserve [Line Items]
Non-Restructuring Charges	(115)				2,007
Total Realignment Program Charges	(115)				2,007
Restructuring Charges	0				0
R2 Realignment Program | Flow Control Division
Restructuring Cost and Reserve [Line Items]
Non-Restructuring Charges	(69)				8,945
Total Realignment Program Charges	(57)				12,318
Restructuring Charges	12				3,373
R2 Realignment Program | Subtotal–Reportable Segments
Restructuring Cost and Reserve [Line Items]
Non-Restructuring Charges	242				21,572
Total Realignment Program Charges	1,600				26,523
Restructuring Charges	1,358				4,951
R2 Realignment Program | Eliminations and All Other
Restructuring Cost and Reserve [Line Items]
Non-Restructuring Charges	0				0
Total Realignment Program Charges	0				0
Restructuring Charges	0				0
R2 Realignment Program | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	1,519				2,648
Non-Restructuring Charges	123				13,492
Total Realignment Program Charges	1,642				16,140
Restructuring Charges	1,519				2,648
Restructuring Reserve [Roll Forward]
Charges	1,519				2,648
R2 Realignment Program | Cost of Sales | Severance
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	97				1,070
Restructuring Reserve [Roll Forward]
Charges	97				1,070
R2 Realignment Program | Cost of Sales | Contract Termination
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	158				158
Restructuring Reserve [Roll Forward]
Charges	158				158
R2 Realignment Program | Cost of Sales | Asset Write-Downs
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	1,150				1,257
Restructuring Reserve [Roll Forward]
Charges	1,150				1,257
R2 Realignment Program | Cost of Sales | Other
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	114				163
Restructuring Reserve [Roll Forward]
Charges	114				163
R2 Realignment Program | Cost of Sales | Engineered Product Division
Restructuring Cost and Reserve [Line Items]
Non-Restructuring Charges	(27)				7,323
Total Realignment Program Charges	410				7,870
Restructuring Charges	437				547
R2 Realignment Program | Cost of Sales | Industrial Product Division
Restructuring Cost and Reserve [Line Items]
Non-Restructuring Charges	91				1,019
Total Realignment Program Charges	91				1,019
Restructuring Charges	0				0
R2 Realignment Program | Cost of Sales | Flow Control Division
Restructuring Cost and Reserve [Line Items]
Non-Restructuring Charges	59				5,150
Total Realignment Program Charges	1,141				7,251
Restructuring Charges	1,082				2,101
R2 Realignment Program | Cost of Sales | Subtotal–Reportable Segments
Restructuring Cost and Reserve [Line Items]
Non-Restructuring Charges	123				13,492
Total Realignment Program Charges	1,642				16,140
Restructuring Charges	1,519				2,648
R2 Realignment Program | Cost of Sales | Eliminations and All Other
Restructuring Cost and Reserve [Line Items]
Non-Restructuring Charges	0				0
Total Realignment Program Charges	0				0
Restructuring Charges	0				0
R2 Realignment Program | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	(161)				2,303
Non-Restructuring Charges	119				8,080
Total Realignment Program Charges	(42)				10,383
Restructuring Charges	(161)				2,303
Restructuring Reserve [Roll Forward]
Charges	(161)				2,303
R2 Realignment Program | Selling, General and Administrative Expenses | Severance
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	390				2,144
Restructuring Reserve [Roll Forward]
Charges	390				2,144
R2 Realignment Program | Selling, General and Administrative Expenses | Contract Termination
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	0				0
Restructuring Reserve [Roll Forward]
Charges	0				0
R2 Realignment Program | Selling, General and Administrative Expenses | Asset Write-Downs
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	(641)				(7)
Restructuring Reserve [Roll Forward]
Charges	(641)				(7)
R2 Realignment Program | Selling, General and Administrative Expenses | Other
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	90				166
Restructuring Reserve [Roll Forward]
Charges	90				166
R2 Realignment Program | Selling, General and Administrative Expenses | Engineered Product Division
Restructuring Cost and Reserve [Line Items]
Non-Restructuring Charges	453				3,297
Total Realignment Program Charges	1,362				4,328
Restructuring Charges	909				1,031
R2 Realignment Program | Selling, General and Administrative Expenses | Industrial Product Division
Restructuring Cost and Reserve [Line Items]
Non-Restructuring Charges	(206)				988
Total Realignment Program Charges	(206)				988
Restructuring Charges	0				0
R2 Realignment Program | Selling, General and Administrative Expenses | Flow Control Division
Restructuring Cost and Reserve [Line Items]
Non-Restructuring Charges	(128)				3,795
Total Realignment Program Charges	(1,198)				5,067
Restructuring Charges	(1,070)				1,272
R2 Realignment Program | Selling, General and Administrative Expenses | Subtotal–Reportable Segments
Restructuring Cost and Reserve [Line Items]
Non-Restructuring Charges	119				8,080
Total Realignment Program Charges	(42)				10,383
Restructuring Charges	(161)				2,303
R2 Realignment Program | Selling, General and Administrative Expenses | Eliminations and All Other
Restructuring Cost and Reserve [Line Items]
Non-Restructuring Charges	0				0
Total Realignment Program Charges	0				0
Restructuring Charges	$ 0				$ 0