Flowserve (FLS) 10-K 20 Feb 19 2018 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2018	Feb. 13, 2019	Jun. 30, 2018
Document and Entity Information [Abstract]
Entity Registrant Name	FLOWSERVE CORP
Entity Central Index Key	30,625
Document Type	10-K
Document Period End Date	Dec. 31, 2018
Amendment Flag	false
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth	false
Entity Shell Company	false
Entity Public Float			$ 2,439,873,483
Entity Common Stock, Shares Outstanding		130,982,978

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 619,683	$ 703,445
Accounts receivable, net	792,434	856,711
Contract assets, net	228,579	0
Inventories, net	633,871	884,273
Prepaid expenses and other	108,578	114,316
Total current assets	2,383,145	2,558,745
Property, plant and equipment, net	610,096	671,796
Goodwill	1,197,640	1,218,188
Deferred taxes	44,682	51,974
Other intangible assets, net	190,550	210,049
Other assets, net	190,164	199,722
Total assets	4,616,277	4,910,474
Current liabilities:
Accounts payable	418,893	443,113
Accrued liabilities	391,406	724,196
Contract liabilities	202,458	0
Debt due within one year	68,218	75,599
Total current liabilities	1,080,975	1,242,908
Long-term debt due after one year	1,414,829	1,499,658
Retirement obligations and other liabilities	459,693	496,954
Commitments and contingencies (See Note 13)
Shareholders’ equity:
Common shares, $1.25 par value, Shares authorized - 305,000, Shares issued - 176,793 and 176,793, respectively	220,991	220,991
Capital in excess of par value	494,551	488,326
Retained earnings	3,543,007	3,503,947
Treasury shares, at cost — 46,237 and 46,471 shares, respectively	(2,049,404)	(2,059,558)
Deferred compensation obligation	7,117	6,354
Accumulated other comprehensive loss	(573,947)	(505,473)
Total Flowserve Corporation shareholders’ equity	1,642,315	1,654,587
Noncontrolling interests	18,465	16,367
Total equity	1,660,780	1,670,954
Total liabilities and equity	$ 4,616,277	$ 4,910,474

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares shares in Thousands	Dec. 31, 2018	Dec. 31, 2017
Shareholders’ equity:
Common shares, par value (in dollars per share)	$ 1.25	$ 1.25
Common stock, shares authorized (in shares)	305,000	305,000
Common shares, shares issued (in shares)	176,793	176,793
Treasury shares, shares (in shares)	46,237	46,471

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended																12 Months Ended
	Dec. 31, 2018		Sep. 30, 2018		Jun. 30, 2018		Mar. 31, 2018		Dec. 31, 2017		Sep. 30, 2017		Jun. 30, 2017		Mar. 31, 2017		Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Statement [Abstract]
Sales	$ 986,900		$ 952,700		$ 973,100		$ 920,000		$ 1,034,100		$ 883,400		$ 877,100		$ 866,300		$ 3,832,666	$ 3,660,831	$ 3,990,487
Cost of sales																	(2,644,830)	(2,571,878)	(2,753,689)
Gross profit	321,800		308,500		286,100		271,400		304,400		267,500		245,000		268,400		1,187,836	1,088,953	1,236,798
Selling, general and administrative expense																	(943,714)	(901,727)	(965,376)
(Loss) gain on sale of businesses																	(7,727)	141,317	(7,664)
Net earnings from affiliates																	11,143	12,592	12,926
Operating income																	247,538	341,135	276,684
Interest expense																	(58,160)	(59,730)	(60,137)
Interest income																	6,465	3,429	2,804
Other expense, net																	(19,569)	(21,827)	(6,439)
Earnings before income taxes	78,600		44,400		28,300		25,000		67,000		68,400		103,000		24,600		176,274	263,007	212,912
Provision for income taxes																	(51,224)	(258,679)	(77,380)
Net earnings, including noncontrolling interests																	125,050	4,328	135,532
Less: Net earnings attributable to noncontrolling interests																	(5,379)	(1,676)	(3,077)
Net earnings attributable to Flowserve Corporation	$ 63,100		$ 28,200		$ 13,200		$ 15,100		$ (105,900)		$ 47,600		$ 41,900		$ 19,100		$ 119,671	$ 2,652	$ 132,455
Net earnings per share attributable to Flowserve Corporation common shareholders:
Basic (in dollars per share)	$ 0.48	[1]	$ 0.22	[1]	$ 0.10	[1]	$ 0.12	[1]	$ (0.81)	[1]	$ 0.36	[1]	$ 0.32	[1]	$ 0.15	[1]	$ 0.91	$ 0.02	$ 1.02
Diluted (in dollars per share)	$ 0.48	[1]	$ 0.21	[1]	$ 0.10	[1]	$ 0.12	[1]	$ (0.81)	[1]	$ 0.36	[1]	$ 0.32	[1]	$ 0.15	[1]	$ 0.91	$ 0.02	$ 1.01
[1]	Earnings per share is computed independently for each of the quarters presented. The sum of the quarters may not equal the total year amount due to the impact of changes in weighted average quarterly shares outstanding.

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Statement of Comprehensive Income [Abstract]
Net earnings, including noncontrolling interests	$ 125,050	$ 4,328	$ 135,532
Other comprehensive (loss) income:
Foreign currency translation adjustments, net of deferred taxes of $2,120, $19,593 and $(8,628) in 2018, 2017 and 2016, respectively	(63,146)	98,830	(71,994)
Pension and other postretirement effects, net of deferred taxes of $3,103, $(14,228) and $9,737 in 2018, 2017 and 2016, respectively	(4,892)	20,775	(16,069)
Cash flow hedging activity, net of deferred taxes of $(38) and $(296) in 2017 and 2016, respectively	232	148	2,220
Other comprehensive (loss) income	(67,806)	119,753	(85,843)
Comprehensive income, including noncontrolling interests	57,244	124,081	49,689
Comprehensive income attributable to noncontrolling interests	(6,047)	(2,114)	(3,787)
Comprehensive income attributable to Flowserve Corporation	$ 51,197	$ 121,967	$ 45,902

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Statement of Comprehensive Income [Abstract]
Foreign curency translation, taxes	$ 0	$ 19,593	$ (8,628)
Pension and other postretirement effects, taxes	3,103	(14,228)	9,737
Cash flow hedging activity, taxes	$ 0	$ (38)	$ (296)

Consolidated Statement of Share

Consolidated Statement of Shareholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Capital in Excess of Par Value	Retained Earnings	Treasury Stock	Deferred Compensation Obligation	Accumulated Other Comprehensive Loss	Noncontrolling Interests
Balance — (in shares) at Dec. 31, 2015		176,793			47,703
Balance — at Dec. 31, 2015	$ 1,664,382	$ 220,991	$ 494,961	$ 3,565,958	$ (2,106,785)	$ 10,233	$ (538,232)	$ 17,256
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock activity under stock plans	(5,313)		(33,571)		$ 28,258
Stock activity under stock plans (in shares)					723
Stock-based compensation	30,213		30,203	10
Tax benefit associated with stock-based compensation	255		255
Net earnings	135,532			132,455				3,077
Cash dividends declared	(100,027)			(100,027)
Other comprehensive loss, net of tax	(85,843)						(86,556)	713
Purchase of shares from and dividends paid to noncontrolling interests	(85)							(85)
Other, net	(1,726)					(1,726)
Balance — (in shares) at Dec. 31, 2016		176,793			46,980
Balance — at Dec. 31, 2016	1,637,388	$ 220,991	491,848	3,598,396	$ (2,078,527)	8,507	(624,788)	20,961
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock activity under stock plans	(4,510)		(23,479)		$ 18,969
Stock activity under stock plans (in shares)					509
Stock-based compensation	22,820		22,820
Tax benefit associated with stock-based compensation	103		103
Net earnings	4,328			2,652				1,676
Cash dividends declared	(100,067)			(100,067)
Other comprehensive loss, net of tax	119,753						119,315	438
Purchase of shares from and dividends paid to noncontrolling interests	(6,708)							(6,708)
Other, net	$ (2,153)					(2,153)
Balance — (in shares) at Dec. 31, 2017	176,793	176,793			46,471
Balance — at Dec. 31, 2017	$ 1,670,954	$ 220,991	488,326	3,503,947	$ (2,059,558)	6,354	(505,473)	16,367
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock activity under stock plans	(3,533)		(13,687)		$ 10,154
Stock activity under stock plans (in shares)					234
Stock-based compensation	19,912		19,912
Tax benefit associated with stock-based compensation	0
Net earnings	125,050			119,671				5,379
Cash dividends declared	(100,253)			(100,253)
Other comprehensive loss, net of tax	(67,806)						(68,474)	668
Purchase of shares from and dividends paid to noncontrolling interests	(3,949)							(3,949)
Other, net	$ 763					763
Balance — (in shares) at Dec. 31, 2018	176,793	176,793			46,237
Balance — at Dec. 31, 2018	$ 1,660,780	$ 220,991	$ 494,551	$ 3,543,007	$ (2,049,404)	$ 7,117	$ (573,947)	$ 18,465

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash flows — Operating activities:
Net earnings, including noncontrolling interests	$ 125,050	$ 4,328	$ 135,532
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation	95,820	101,438	99,897
Amortization of intangible and other assets	16,653	17,016	16,855
Loss (gain) on disposition of businesses	7,727	(141,317)	7,664
Stock-based compensation	19,912	22,820	30,213
Provision for U.S. Tax Cuts and Jobs Act of 2017 and Latin America accounts receivable reserve	(5,654)	115,320	73,452
Foreign currency, asset impairment and other non-cash adjustments	36,052	33,087	(8,127)
Change in assets and liabilities:
Accounts receivable, net	(25,448)	60,216	36,927
Inventories, net	(29,314)	48,642	52,892
Contract assets, net	(23,693)	0	0
Prepaid expenses and other assets, net	(7,869)	32,935	(45,475)
Contract liabilities	33,710	0	0
Accounts payable	(4,823)	12,403	(71,008)
Accrued liabilities and income taxes payable	(18,248)	(3,383)	(88,770)
Retirement obligations and other	(44,314)	(43,431)	16,372
Net deferred taxes	15,270	50,992	(15,948)
Net cash flows provided by operating activities	190,831	311,066	240,476
Cash flows — Investing activities:
Capital expenditures	(83,993)	(61,602)	(89,699)
Proceeds from disposal of assets	6,190	5,435	3,294
(Payments for) proceeds from disposition of businesses	(3,663)	232,767	(5,064)
Net cash flows (used) provided by investing activities	(81,466)	176,600	(91,469)
Cash flows — Financing activities:
Payments on long-term debt	(60,000)	(60,000)	(60,000)
Payments of deferred loan costs	0	(1,503)	0
Proceeds under other financing arrangements	3,377	7,359	35,680
Payments under other financing arrangements	(9,853)	(19,030)	(12,636)
Payments related to tax withholding for stock-based compensation	(3,061)	(6,238)	(10,405)
Payments of dividends	(99,416)	(99,233)	(97,746)
Other	(4,331)	(6,708)	1,386
Net cash flows used by financing activities	(173,284)	(185,353)	(143,721)
Effect of exchange rate changes on cash	(19,843)	33,970	(4,568)
Net change in cash and cash equivalents	(83,762)	336,283	718
Cash and cash equivalents at beginning of year	703,445	367,162	366,444
Cash and cash equivalents at end of year	619,683	703,445	367,162
Income taxes paid (net of refunds)	87,009	59,409	151,191
Interest paid	$ 54,576	$ 56,808	$ 57,393

Significant Accounting Policies

Significant Accounting Policies and Accounting Developments	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Significant Accounting Policies and Accounting Developments	SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING DEVELOPMENTS We are principally engaged in the worldwide design, manufacture, distribution and service of industrial flow management equipment. We provide long lead time, custom and other highly-engineered pumps; standardized, general-purpose pumps; mechanical seals; engineered and industrial valves; and related automation products and solutions primarily for oil and gas, chemical, power generation, water management and other general industries requiring flow management products and services. Equipment manufactured and serviced by us is predominantly used in industries that deal with difficult-to-handle and corrosive fluids, as well as environments with extreme temperatures, pressure, horsepower and speed. Our business is affected by economic conditions in the United States ("U.S.") and other countries where our products are sold and serviced, by the cyclical nature and competitive environment of our industries served, by the relationship of the U.S. dollar to other currencies and by the demand for and pricing of our customers’ end products. Principles of Consolidation — The consolidated financial statements include the accounts of our company and our wholly and majority-owned subsidiaries. In addition, we would consolidate any variable interest entities for which we are deemed to be the primary beneficiary. Noncontrolling interests of non-affiliated parties have been recognized for all majority-owned consolidated subsidiaries. Intercompany profits/losses, transactions and balances among consolidated entities have been eliminated from our consolidated financial statements. Investments in unconsolidated affiliated companies, which represent noncontrolling ownership interests between 20% and 50% , are accounted for using the equity method, which approximates our equity interest in their underlying equivalent net book value under accounting principles generally accepted in the U.S. ("U.S. GAAP"). Investments in interests where we own less than 20% of the investee are accounted for by the cost method, whereby income is only recognized in the event of dividend receipt. Investments accounted for by the cost method are tested for impairment if an impairment indicator is present. Use of Estimates — The process of preparing financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect reported amounts of certain assets, liabilities, revenues and expenses. We believe our estimates and assumptions are reasonable; however, actual results may differ materially from such estimates. The most significant estimates and assumptions are used in determining: • Timing and amount of revenue recognition; • Deferred taxes, tax valuation allowances and tax reserves; • Reserves for contingent loss; • Pension and postretirement benefits; and • Valuation of goodwill, indefinite-lived intangible assets and other long-lived assets. Argentina Highly Inflationary — Effective July 1, 2018, Argentina was designated as hyperinflationary, and as a result, we began using the U.S. dollar as our functional currency in Argentina. Our Argentinian subsidiary's sales for the year ended December 31, 2018 represented approximately 1% of consolidated sales and its assets at December 31, 2018 represented approximately 1% of total consolidated assets. Assets primarily consisted of U.S. dollar-denominated monetary assets and Argentinian peso-denominated non-monetary assets at December 31, 2018 . In addition, certain of our operations in other countries sell equipment and parts that are typically denominated in U.S. dollars directly to Argentinian customers. Revenue Recognition — Our contracts with customers often have multiple commitments to provide goods and/or services, including any combination of designing, developing, manufacturing, modifying, installing and commissioning of flow management equipment and providing services and parts related to the performance of such products. We recognize revenue when (or as) we satisfy a performance obligation by transferring control to a customer. We recognize revenue either over time or at a point in time, depending on the specific facts and circumstances for each contract, including the terms and conditions of the contract as agreed with the customer and the nature of the products or services to be provided. Our primary method for recognizing revenue over time is the percentage of completion (“POC”) method, whereby progress towards completion is measured by applying an input measure based on costs incurred to date relative to total estimated costs at completion. If control of the products and/or services does not transfer over time, then control transfers at a point in time. We determine the point in time that control transfers to a customer based on the evaluation of specific indicators, such as title transfer, risk of loss transfer, customer acceptance and physical possession. For a detailed discussion related to revenue recognition refer to Note 2. Cash and Cash Equivalents — We place temporary cash investments with financial institutions and, by policy, invest in those institutions and instruments that have minimal credit risk and market risk. These investments, with an original maturity of three months or less when purchased, are classified as cash equivalents. They are highly liquid and principal values are not subject to significant risk of change due to interest rate fluctuations. Allowance for Doubtful Accounts and Credit Risk — The allowance for doubtful accounts is established based on estimates of the amount of uncollectible accounts receivable, which is determined principally based upon the aging of the accounts receivable, but also customer credit history, industry and market segment information, economic trends and conditions and credit reports. Customer credit issues, customer bankruptcies or general economic conditions may also impact our estimates. Credit risks are mitigated by the diversity of our customer base across many different geographic regions and industries and by performing creditworthiness analyses on our customers. Additionally, we mitigate credit risk through letters of credit and advance payments received from our customers. We do not believe that we have any other significant concentrations of credit risk. Inventories and Related Reserves — Inventories are stated at the lower of cost and net realizable value. Cost is determined by the first-in, first-out method. Reserves for excess and obsolete inventories are based upon our assessment of market conditions for our products determined by historical usage and estimated future demand. Due to the long life cycles of our products, we carry spare parts inventories that have historically low usage rates and provide reserves for such inventory based on demonstrated usage and aging criteria. Income Taxes, Deferred Taxes, Tax Valuation Allowances and Tax Reserves — We account for income taxes under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are calculated using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the period that includes the enactment date. We record valuation allowances to reflect the estimated amount of deferred tax assets that may not be realized based upon our analysis of existing deferred tax assets, net operating losses and tax credits by jurisdiction and expectations of our ability to utilize these tax attributes through a review of past, current and estimated future taxable income and establishment of tax strategies. We provide deferred taxes for the temporary differences associated with our investment in foreign subsidiaries that have a financial reporting basis that exceeds tax basis, unless we can assert permanent reinvestment in foreign jurisdictions. Financial reporting basis and tax basis differences in investments in foreign subsidiaries consist of both unremitted earnings and losses, as well as foreign currency translation adjustments. The amount of income taxes we pay is subject to ongoing audits by federal, state, and foreign tax authorities, which often result in proposed assessments. We establish reserves for open tax years for uncertain tax positions that may be subject to challenge by various tax authorities. The consolidated tax provision and related accruals include the impact of such reasonably estimable losses and related interest and penalties as deemed appropriate. We recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities. The determination is based on the technical merits of the position and presumes that each uncertain tax position will be examined by the relevant taxing authority that has full knowledge of all relevant information. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement. Legal and Environmental Contingencies — Legal and environmental reserves are recorded based upon a case-by-case analysis of the relevant facts and circumstances and an assessment of potential legal obligations and costs. Amounts relating to legal and environmental liabilities are recorded when it is probable that a loss has been incurred and such loss is reasonably estimable. Assessments of legal and environmental costs are based on information obtained from our independent and in-house experts and our loss experience in similar situations. Estimates are updated as applicable when new information regarding the facts and circumstances of each matter becomes available. Legal fees associated with legal and environmental liabilities are expensed as incurred. Estimates of liabilities for unsettled asbestos-related claims are based on known claims and on our experience during the preceding two years for claims filed, settled and dismissed, with adjustments for events deemed unusual and unlikely to recur, and are included in retirement obligations and other liabilities in our consolidated balance sheets. A substantial majority of our asbestos-related claims are covered by insurance or indemnities. Estimated indemnities and receivables from insurance carriers for unsettled claims and receivables for settlements and legal fees paid by us for asbestos-related claims are estimated using our historical experience with insurance recovery rates and estimates of future recoveries, which include estimates of coverage and financial viability of our insurance carriers. Estimated receivables are included in other assets, net in our consolidated balance sheets. We have claims pending against certain insurers that, if resolved more favorably than estimated future recoveries, 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 existing indemnities and insurance coverage. Warranty Accruals — Warranty obligations are based upon product failure rates, materials usage, service delivery costs, an analysis of all identified or expected claims and an estimate of the cost to resolve such claims. The estimates of expected claims are generally a factor of historical claims and known product issues. Warranty obligations based on these factors are adjusted based on historical sales trends for the preceding 24 months . Insurance Accruals — Insurance accruals are recorded for wholly or partially self-insured risks such as medical benefits and workers’ compensation and are based upon an analysis of our claim loss history, insurance deductibles, policy limits and other relevant factors that are updated annually and are included in accrued liabilities in our consolidated balance sheets. The estimates are based upon information received from actuaries, insurance company adjusters, independent claims administrators or other independent sources. Receivables from insurance carriers are estimated using our historical experience with insurance recovery rates and estimates of future recoveries, which include estimates of coverage and financial viability of our insurance carriers. Estimated receivables are included in accounts receivable, net and other assets, net, as applicable, in our consolidated balance sheets. Pension and Postretirement Obligations — Determination of pension and postretirement benefits obligations is based on estimates made by management in consultation with independent actuaries and investment advisors. Inherent in these valuations are assumptions including discount rates, expected rates of return on plan assets, retirement rates, mortality rates and rates of compensation increase and other factors all of which are reviewed annually and updated if necessary. Current market conditions, including changes in rates of return, interest rates and medical inflation rates, are considered in selecting these assumptions. Actuarial gains and losses and prior service costs are recognized in accumulated other comprehensive loss as they arise and we amortize these costs into net pension expense over the remaining expected service period. Property, Plant and Equipment and Depreciation — Property, plant and equipment are stated at historical cost, less accumulated depreciation. If asset retirement obligations exist, they are capitalized as part of the carrying amount of the asset and depreciated over the remaining useful life of the asset. The useful lives of leasehold improvements are the lesser of the remaining lease term or the useful life of the improvement. When assets are retired or otherwise disposed of, their costs and related accumulated depreciation are removed from the accounts and any resulting gains or losses are included in income from operations for the period. Depreciation is computed by the straight-line method based on the estimated useful lives of the depreciable assets, or in the case of assets under capital leases, over the related lease turn. Generally, the estimated useful lives of the assets are: Buildings and improvements 10 to 40 years Machinery, equipment and tooling 3 to 14 years Software, furniture and fixtures and other 3 to 7 years Costs related to routine repairs and maintenance are expensed as incurred. Internally Developed Software — We capitalize certain costs associated with the development of internal-use software. Generally, these costs are related to significant software development projects and are amortized over their estimated useful life, typically three to five years, upon implementation of the software. Intangible Assets — Intangible assets, excluding trademarks (which are considered to have an indefinite life), consist primarily of engineering drawings, patents, existing customer relationships, software, distribution networks and other items that are being amortized over their estimated useful lives generally ranging from four to 40 years . These assets are reviewed for impairment whenever events and circumstances indicate impairment may have occurred. Valuation of Goodwill, Indefinite-Lived Intangible Assets and Other Long-Lived Assets — The value of goodwill and indefinite-lived intangible assets is tested for impairment as of December 31 each year or whenever events or circumstances indicate such assets may be impaired. The identification of our reporting units began at the operating segment level and considered whether components one level below the operating segment levels should be identified as reporting units for purpose of testing goodwill for impairment based on certain conditions. These conditions included, among other factors, (i) the extent to which a component represents a business and (ii) the aggregation of economically similar components within the operating segments and resulted in four reporting units. Other factors that were considered in determining whether the aggregation of components was appropriate included the similarity of the nature of the products and services, the nature of the production processes, the methods of distribution and the types of industries served. An impairment loss for goodwill is recognized if the implied fair value of goodwill is less than the carrying value. We estimate the fair value of our reporting units based on an income approach, whereby we calculate the fair value of a reporting unit based on the present value of estimated future cash flows. A discounted cash flow analysis requires us to make various judgmental assumptions about future sales, operating margins, growth rates and discount rates, which are based on our budgets, business plans, economic projections, anticipated future cash flows and market participants. Assumptions are also made for varying perpetual growth rates for periods beyond the long-term business plan period. We did not record an impairment of goodwill in 2018, 2017 or 2016; however, the estimated fair value of our EPO and IPD reporting units reduced significantly in 2016 and 2015 due to broad-based capital spending declines and heightened pricing pressure experienced in the oil and gas markets which are anticipated to continue in the near to mid-term. The EPO reporting unit is a component of our EPD reporting segment and is primarily focused on long lead time, custom and other highly-engineered pump products and systems. As of December 31, 2018, our EPO reporting unit had approximately $158 million of goodwill and its estimated fair value exceeded its carrying value by approximately 60% as compared to approximately $159 million of goodwill and its estimated fair value exceeded its carrying value by approximately 82% as of December 31, 2017. In addition, our IPD reporting unit had approximately $311 million of goodwill and its fair value exceeded its carrying value by approximately 40% as of December 31, 2018 as compared to approximately $319 million of goodwill and its fair value exceeded its carrying value by approximately 66% as of December 31, 2017. Key assumptions used in determining the estimated fair value of our EPO and IPD reporting units included the annual operating plan and forecasted operating results, successful execution of our current Flowserve Transformation 2.0 program and identified strategic initiatives, a constant cost of capital, continued stabilization and mid to long-term improvement of the macro-economic conditions of the oil and gas market, and a relatively stable global gross domestic product. Although we have concluded that there is no impairment on the goodwill associated with our EPO and IPD reporting units as of December 31, 2018, we will continue to closely monitor their performance and related market conditions for future indicators of potential impairment and reassess accordingly. We considered our market capitalization in our evaluation of the fair value of our goodwill. Our market capitalization decreased slightly as compared with 2017 and did not indicate a potential impairment of our goodwill as of December 31, 2018. Impairment losses for indefinite-lived intangible assets are recognized whenever the estimated fair value is less than the carrying value. Fair values are calculated for trademarks using a "relief from royalty" method, which estimates the fair value of a trademark by determining the present value of estimated royalty payments that are avoided as a result of owning the trademark. This method includes judgmental assumptions about sales growth and discount rates that have a significant impact on the fair value and are substantially consistent with the assumptions used to determine the fair value of our reporting units discussed above. We did not record a material impairment of our trademarks in 2018 , 2017 or 2016 . The recoverable value of other long-lived assets, including property, plant and equipment and finite-lived intangible assets, is reviewed when indicators of potential impairments are present. The recoverable value is based upon an assessment of the estimated future cash flows related to those assets, utilizing assumptions similar to those for goodwill. Additional considerations related to our long-lived assets include expected maintenance and improvements, changes in expected uses and ongoing operating performance and utilization. Deferred Loan Costs — Deferred loan costs, consisting of fees and other expenses associated with debt financing, are amortized over the term of the associated debt using the effective interest method. Additional amortization is recorded in periods where optional prepayments on debt are made. Fair Values of Financial Instruments — Our financial instruments are presented at fair value in our consolidated balance sheets, with the exception of our long-term debt. 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 consolidated balance sheets are categorized based upon the level of judgment associated with the inputs used to measure their fair values. Hierarchical levels, as defined by Accounting Standards Codification ("ASC") 820, "Fair Value Measurements and Disclosures," are directly related to the amount of subjectivity associated with the inputs to fair valuation of these assets and liabilities. An asset or a liability’s categorization within the fair value hierarchy is based on the lowest level of significant input to its valuation. Hierarchical levels are as follows: Level I — Inputs are unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date. Level II — Inputs (other than quoted prices included in Level I) are either directly or indirectly observable for the asset or liability through correlation with market data at the measurement date and for the duration of the instrument’s anticipated life. Level III — Inputs reflect management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date. Consideration is given to the risk inherent in the valuation technique and the risk inherent in the inputs to the model. Recurring fair value measurements are limited to investments in derivative instruments and certain equity securities. 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 derivative instruments are included in Note 7. The fair value measurements of our investments in equity securities are determined using quoted market prices and are classified as Level I. The fair values of our investments in equity securities, and changes thereto, are immaterial to our consolidated financial position and results of operations. Derivatives and Hedging Activities — We have a foreign currency derivatives and hedging policy outlining the conditions under which we can enter into financial derivative transactions. We do not use derivative instruments for trading or speculative purposes. All derivative instruments are recognized on the balance sheet at their fair values. We employ a foreign currency economic hedging strategy to mitigate certain financial risks resulting from foreign currency exchange rate movements that impact foreign currency denominated receivables and payables, firm committed transactions and forecasted sales and purchases. The changes in the fair values are recognized immediately in other expense, net in the consolidated statements of income. See Note 7 for further discussion of forward exchange contracts. 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 forward exchange contracts and expect all counterparties to meet their obligations. If necessary, we would adjust the values of our derivative contracts for our or our counterparties’ credit risks. Foreign Currency Translation — Assets and liabilities of our foreign subsidiaries are translated to U.S. dollars at exchange rates prevailing at the balance sheet date, while income and expenses are translated at average rates for each month. Translation gains and losses are reported as a component of accumulated other comprehensive loss. Transactional currency gains and losses arising from transactions in currencies other than our sites’ functional currencies are included in our consolidated results of operations. Transaction and translation gains and losses arising from intercompany balances are reported as a component of accumulated other comprehensive loss when the underlying transaction stems from a long-term equity investment or from debt designated as not due in the foreseeable future. Otherwise, we recognize transaction gains and losses arising from intercompany transactions as a component of income. Where intercompany balances are not long-term investment related or not designated as due beyond the foreseeable future, we may mitigate risk associated with foreign currency fluctuations by entering into forward exchange contracts. Stock-Based Compensation — Stock-based compensation is measured at the grant-date fair value. The exercise price of stock option awards and the value of restricted share, restricted share unit and performance-based unit awards (collectively referred to as "Restricted Shares") are set at the closing price of our common stock on the New York Stock Exchange on the date of grant, which is the date such grants are authorized by our Board of Directors. Restricted share units and performance-based units refer to restricted awards that do not have voting rights and accrue dividends, which are forfeited if vesting does not occur. The intrinsic value of Restricted Shares, which is typically the product of share price at the date of grant and the number of Restricted Shares granted, is amortized on a straight-line basis to compensation expense over the periods in which the restrictions lapse based on the expected number of shares that will vest. We account for forfeitures as they occur resulting in the reversal of cumulative expense previously recognized. Earnings Per Share — We use the two-class method of calculating Earnings Per Share ("EPS"), which determines earnings per share for each class of common stock and participating security as if all earnings for the period had been distributed. Unvested restricted share awards that earn non-forfeitable dividend rights qualify as participating securities and, accordingly, are included in the basic computation as such. Our unvested restricted shares participate on an equal basis with common shares; therefore, there is no difference in undistributed earnings allocated to each participating security. Accordingly, the presentation below is prepared on a combined basis and is presented as earnings per common share. The following is a reconciliation of net earnings of Flowserve Corporation and weighted average shares for calculating basic net earnings per common share. Earnings per weighted average common share outstanding was calculated as follows: Year Ended December 31, 2018 2017 2016 (Amounts in thousands, except per share data) Net earnings of Flowserve Corporation $ 119,671 $ 2,652 $ 132,455 Dividends on restricted shares not expected to vest — — 6 Earnings attributable to common and participating shareholders $ 119,671 $ 2,652 $ 132,461 Weighted average shares: Common stock 130,794 130,600 130,147 Participating securities 29 103 285 Denominator for basic earnings per common share 130,823 130,703 130,432 Effect of potentially dilutive securities 448 655 543 Denominator for diluted earnings per common share 131,271 131,358 130,975 Net earnings per share attributable to Flowserve Corporation common shareholders: Basic $ 0.91 $ 0.02 $ 1.02 Diluted 0.91 0.02 1.01 Diluted earnings per share 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, restricted share units and performance share units. Research and Development Expense — Research and development costs are charged to expense when incurred. Aggregate research and development costs included in SG&A were $39.6 million , $38.6 million and $42.8 million in 2018 , 2017 and 2016 , respectively. Costs incurred for research and development primarily include salaries and benefits and consumable supplies, as well as rent, professional fees, utilities and the depreciation of property and equipment used in research and development activities. Accounting Developments Pronouncements Implemented In May 2014, the FASB issued Accounting Standards Update ("ASU") No. 2014-09, "Revenue from Contracts with Customers (Topic 606)" (the "New Revenue Standard" or "ASC 606"), which supersedes most of the revenue recognition requirements in "Revenue Recognition (Topic 605)" ("Topic 605"). On January 1, 2018, we adopted the New Revenue Standard using the modified retrospective method for transition, applying the guidance to those contracts which were not completed as of that date. According to our method of transition we adjusted for the cumulative effect of the changes made to our consolidated balance sheet and recorded a cumulative effect adjustment to increase retained earnings by approximately $20 million , mostly associated with the increase in POC method revenue, as a result of initially applying the standard. We have modified our accounting policies and practices, business processes, systems and controls to support compliance with the New Revenue Standard. Revenue recognition and related financial information for this Annual Report are based on the requirements of ASC 606. Accordingly, periods prior to January 1, 2018 are presented in accordance with Topic 605. Refer to Note 2 for a discussion on our adoption of the New Revenue Standard. In January 2016, the FASB issued ASU No. 2016-01, "Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities." The ASU requires entities to measure equity investments that do not result in consolidation and are not accounted for under the equity method at fair value with changes in fair value recognized in net income. The ASU also requires an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. The requirement to disclose the method(s) and significant assumptions used to estimate the fair value for financial instruments measured at amortized cost on the balance sheet has been eliminated by this ASU. In February 2018, the FASB issued ASU No. 2018-03, "Technical Corrections and Improvements to Financial Instruments-Overall (Subtopic 825-10)" to clarify certain aspects of ASU No. 2016-01. Our adoption of ASU No. 2016-01 and ASU No. 2018-03 effective January 1, 2018 did not have an impact on our consolidated financial condition and results of operations. In August 2016, the FASB issued ASU No. 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments - A consensus of the FASB Emerging Issues Task Force.” The update was issued with the objective of reducing the existing diversity in practice in how certain cash receipts and cash payments are presented and classified in the statement of cash flows under Topic 230 and other topics. Our adoption of ASU No. 2016-15 effective January 1, 2018 did not have a material impact on our consolidated statement of cash

Revenue Recognition

Revenue Recognition	12 Months Ended
	Dec. 31, 2018
Revenue Recognition and Deferred Revenue [Abstract]
Revenue Recognition	REVENUE RECOGNITION We enter into contracts with customers often having multiple commitments of goods and services including any combination of designing, developing, manufacturing, modifying, installing and commissioning of flow management equipment and providing services and parts related to the performance of such products. We evaluate the commitments in our contracts with customers to determine if the commitments are both capable of being distinct and distinct in the context of the contract in order to identify performance obligations. We recognize revenue when (or as) we satisfy a performance obligation by transferring control of the performance obligation to a customer. Control of a performance obligation may transfer to the customer either over time or at a point in time depending on an evaluation of the specific facts and circumstances for each contract, including the terms and conditions of the contract as agreed with the customer, as well as the nature of the products or services to be provided. Our larger contracts are typically completed within a one to three-year period, while many other contracts, such as “short cycle” contracts, have a shorter timeframe for revenue recognition. Control transfers over time when the customer is able to direct the use of and obtain substantially all of the benefits of our work as we perform. This typically occurs when products have no alternative use and we have a right to payment for performance completed to date, including a reasonable profit margin. Our contracts often include cancellation provisions that require the customer to reimburse us for costs incurred up to the date of cancellation, and some contracts also provide for reimbursement of profit upon cancellation in addition to costs incurred to date. Our primary method for recognizing revenue over time is the POC method. We measure progress towards completion by applying an input measure based on costs incurred to date relative to total estimated costs at completion (i.e., the cost-to-cost method). This method provides a reasonable depiction of the transfer of control of products and services to customers as it ensures our efforts towards satisfying a performance obligation, as reflected by costs incurred, are included in the measure of progress used for recognition of revenue. Costs generally include direct labor, direct material and manufacturing overhead. Costs that do not contribute towards control transfer are generally immaterial, but are excluded from the measure of progress in the event they are significant. Historically, revenue recognized under the POC method has been 5% to 10% of our consolidated sales. Under the New Revenue Standard, we have experienced an increase in the amount of revenue recognized over time. This increase is primarily due to the application of the new “transfer of control” model for revenue recognition. Under this model, revenue for performance obligations subject to contractual transfer of control during the manufacturing process are recognized over time. This includes contracts with cancellation provisions that require reimbursement for costs incurred plus a reasonable margin and for which the performance obligation has no alternative use. Revenue from products and services transferred to customers over time accounted for approximately 22% , 4% and 6% of total revenue for the years ended December 31, 2018 , 2017 and 2016 , respectively. If control does not transfer over time, then control transfers at a point in time. We recognize revenue at a point in time at the level of each performance obligation based on the evaluation of certain indicators of control transfer, such as title transfer, risk of loss transfer, customer acceptance and physical possession. Revenue from products and services transferred to customers at a point in time accounted for approximately 78% , 96% and 94% of total revenue for the years ended December 31, 2018 , 2017 and 2016 , respectively. A contract modification, or “change order,” occurs when the existing enforceable rights and obligations of a contract change, such as a change in the scope, price or terms and conditions. We account for a change order as a new accounting contract when the change order is limited to adding new, distinct products and services that are priced in an amount consistent with standalone selling price. Other change orders are accounted for as a modification of the existing accounting contract. When a change order occurs for a contract having in-process over time performance obligations, the effect of the change order on the transaction price and the measure of progress for the performance obligations to which it relates is recognized as an adjustment to revenue (either as an increase in or a reduction of revenue) on a cumulative catch-up basis. Freight charges billed to customers are included in sales and the related shipping costs are included in cost of sales in our consolidated statements of income. If shipping activities are performed after a customer obtains control of a product, we apply a policy election to account for shipping as an activity to fulfill the promise to transfer the product to the customer. We apply a policy election to exclude transaction taxes collected from customers from sales when the tax is both imposed on and concurrent with a specific revenue-producing transaction. In certain instances, we provide guaranteed completion dates under the terms of our contracts. Failure to meet contractual delivery dates can result in late delivery penalties or liquidated damages. In the event that the transaction price of such a contract is probable of experiencing a significant reversal due to a penalty, we constrain a portion of the transaction price. This reduction to the transaction price could potentially cause estimated total contract costs to exceed the transaction price, in which case we record a provision for the estimated loss in the period the loss is first projected. In circumstances where the transaction price still exceeds total projected costs, the estimated penalty generally reduces profitability of the contract at the time of subsequent revenue recognition. Our incremental costs to obtain a contract are limited to sales commissions. We apply the practical expedient to expense commissions as incurred for contracts having a duration of one year or less. Sales commissions related to contracts with a duration of greater than one year are immaterial to our financial statements and are also expensed as incurred. We have not identified any material costs to fulfill a contract that qualify for capitalization under ASC 340-40. Performance Obligations A performance obligation is a promise in a contract to transfer a distinct good or service to the customer, and is the unit of account for recognition of revenue. Many of our contracts have multiple performance obligations as the promise to transfer the individual goods or services, or certain groups of goods and services, is separately identifiable from other promises in the contract. We allocate the transaction price of each contract to the performance obligations on the basis of standalone selling price and recognize revenue when, or as, control of each performance obligation transfers to the customer. For standard products, we identify the standalone selling price based on directly observable information. For customized or unique products and services, we apply the cost plus margin approach to estimate the standalone selling price. Under this method, we forecast our expected costs of satisfying a performance obligation and then add an appropriate standalone market margin for that distinct good or service. We have elected to use the practical expedient to not adjust the transaction price of a contract for the effects of a significant financing component if, at the inception of the contract, we expect that the period between when we transfer a promised good or service to a customer and when the customer pays for that good or service will be one year or less. A material product warranty exists when a customer has specifically requested or negotiated a warranty period that is significantly longer than our standard warranty period (i.e., a “service-type warranty”) and where the warranty obligation is material in the context of the contract. It is not common for our contracts to contain material product warranties. However, when such a warranty exists, we account for it as a separate performance obligation. We estimate the standalone selling price of the warranty obligation utilizing a cost plus margin approach and allocate a portion of the transaction price to the warranty performance obligation on the basis of estimated standalone selling price. We recognize revenue for warranty performance obligations over time on a straight line basis over the extended warranty period. A material right option is a benefit provided to a customer in a current contract, such as an option to receive future products or services for free or at a significant discount, that is incremental to benefits widely available to similar customers that do not enter into a specific contract. It is not common for our contracts to contain material right options. However, when a material right option exists, it is accounted for as a separate performance obligation and a portion of the transaction price is allocated to the performance obligation based on the estimated standalone selling price of the option. Revenue is recognized when (or as) the customer exercises the right to acquire future products and/or services. On December 31, 2018 , the aggregate transaction price allocated to unsatisfied (or partially unsatisfied) performance obligations related to contracts having an original expected duration in excess of one year was approximately $450 million . We estimate recognition of approximately $361 million of this amount as revenue in 2019 and an additional $89 million in 2020 and thereafter. Revenue recognized for performance obligations satisfied (or partially satisfied) in prior periods for the year ended December 31, 2018 was not material. ASC 606 Adoption Impact We applied ASC 606 only to contracts that were not substantially complete as of January 1, 2018 and reflected the aggregate impact of all contract modifications (“change orders”) that occurred before the beginning of the earliest period presented when accounting for modified contracts at transition. The following table presents the cumulative effect of the changes made to our consolidated balance sheet as of January 1, 2018 related to the adoption of the New Revenue Standard: December 31, Adjustments due to adoption of New Revenue Standard January 1, (Amounts in thousands) Accounts receivable, net of allowance for doubtful accounts(1) 856,711 (49,247 ) 807,464 Contract assets, net(2) — 219,361 219,361 Inventories, net(3) 884,273 (238,573 ) 645,700 Prepaid expenses and other 114,316 (4,457 ) 109,859 Total current assets 2,558,745 (72,916 ) 2,485,829 Deferred taxes 51,974 (2,706 ) 49,268 Other assets, net 199,722 2,004 201,726 Total assets 4,910,474 (73,618 ) 4,836,856 Accounts payable 443,113 11,784 454,897 Accrued liabilities(4) 724,196 (290,445 ) 433,751 Contract liabilities(5) — 178,515 178,515 Total current liabilities 1,242,908 (100,146 ) 1,142,762 Retirement obligations and other liabilities 496,954 6,568 503,522 Retained earnings 3,503,947 19,642 3,523,589 Total equity 1,670,954 19,960 1,690,914 Total liabilities and equity 4,910,474 (73,618 ) 4,836,856 _____________________________________ (1) Adjusted for contract assets accounted for under delivery based methods, previously reported in receivables, net. (2) Represents our revenue recognized in advance of our contractual right to bill the customer. (3) Adjusted for contract assets accounted under the over time method, previously reported in inventories, net. (4) Adjusted for deferred revenue previously reported in accrued liabilities and reclassified to contract assets and contract liabilities. (5) Represents contractual billings in excess of revenue recognized at the contract level, previously reported in accrued liabilities. The modified retrospective approach requires a dual reporting presentation to be disclosed in the year of adoption. The dual reporting requirement outlines the impact amount by which a financial statement line is affected in the current reporting period by the adoption of the New Revenue Standard as compared with the previous standard in effect before the adoption. The following tables present the dual reporting requirements: December 31, 2018 (Amounts in thousands, except percentages) Balances without Adoption of New Revenue Standard Effect of Change As Reported Sales $ 3,761,470 $ 71,196 $ 3,832,666 Cost of sales (2,598,904 ) (45,926 ) (2,644,830 ) Gross profit 1,162,566 25,270 1,187,836 Gross profit margin 30.9 % 31.0 % Selling, general and administrative expense (942,648 ) (1,066 ) (943,714 ) Loss on sale of business (7,727 ) — (7,727 ) Net earnings from affiliates 11,143 — 11,143 Operating income 223,334 24,204 247,538 Operating income as a percent of sales 5.9 % 6.5 % Interest expense (58,160 ) — (58,160 ) Interest income 6,465 — 6,465 Other expense, net (22,066 ) 2,497 (19,569 ) Earnings before income taxes 149,573 26,701 176,274 Provision for income taxes (47,309 ) (3,915 ) (51,224 ) Net earnings, including noncontrolling interests 102,264 22,786 125,050 Less: Net earnings attributable to noncontrolling interests (5,379 ) — (5,379 ) Net earnings attributable to Flowserve Corporation $ 96,885 $ 22,786 $ 119,671 December 31, 2018 (Amounts in thousands) Balances without Adoption of New Revenue Standard Effect of Change As Reported Accounts receivable, net 852,055 (59,621 ) 792,434 Contract assets, net — 228,579 228,579 Inventories, net 895,677 (261,806 ) 633,871 Prepaid expenses and other 121,796 (13,218 ) 108,578 Total current assets 2,489,211 (106,066 ) 2,383,145 Other assets, net 183,493 6,671 190,164 Total assets 4,715,916 (99,639 ) 4,616,277 Accounts payable 406,569 12,324 418,893 Accrued liabilities 750,505 (359,099 ) 391,406 Contract liabilities — 202,458 202,458 Total current liabilities 1,225,292 (144,317 ) 1,080,975 Retained earnings 3,500,566 42,441 3,543,007 Total equity 1,618,802 41,978 1,660,780 Total liabilities and equity 4,715,916 (99,639 ) 4,616,277 Disaggregated Revenue We conduct our operations through three business segments based on the type of product and how we manage the business: • Engineered Product Division ("EPD") for long lead time, custom and other highly-engineered pumps and pump systems, mechanical seals, auxiliary systems and replacement parts and related services; • Industrial Product Division ("IPD") for engineered and pre-configured industrial pumps and pump systems and related products and services; and • Flow Control Division ("FCD") for engineered and industrial valves, control valves, actuators and controls and related services. Our revenue sources are derived from our original equipment manufacturing and our aftermarket sales and services. Our original equipment revenues are generally related to originally designed, manufactured, distributed and installed equipment that can range from pre-configured, short-cycle products to more customized, highly-engineered equipment ("Original Equipment"). Our aftermarket sales and services are derived from sales of replacement equipment, as well as maintenance, advanced diagnostic, repair and retrofitting services ("Aftermarket"). Each of our three business segments generate Original Equipment and Aftermarket revenues. The following table presents our customer revenues disaggregated by revenue source: December 31, 2018 (Amounts in thousands) EPD IPD FCD Total Original Equipment $ 529,005 $ 463,157 $ 943,893 $ 1,936,055 Aftermarket 1,331,484 296,842 268,285 1,896,611 $ 1,860,489 $ 759,999 $ 1,212,178 $ 3,832,666 December 31, 2017 (1) (Amounts in thousands) EPD IPD FCD Total Original Equipment $ 511,060 $ 457,992 $ 906,890 $ 1,875,942 Aftermarket 1,227,022 281,664 276,203 1,784,889 $ 1,738,082 $ 739,656 $ 1,183,093 $ 3,660,831 December 31, 2016 (1) (Amounts in thousands) EPD IPD FCD Total Original Equipment $ 683,871 $ 534,957 $ 975,786 $ 2,194,614 Aftermarket 1,279,215 264,966 251,692 1,795,873 $ 1,963,086 $ 799,923 $ 1,227,478 $ 3,990,487 _____________________________________ (1) Prior periods are presented in accordance with Topic 605. Our customer sales are diversified geographically. The following table presents our revenues disaggregated by geography, based on the shipping addresses of our customers: December 31, 2018 (Amounts in thousands) EPD IPD FCD Total North America(1) $ 715,571 $ 322,066 $ 540,316 $ 1,577,953 Latin America(1) 190,605 28,771 22,405 241,781 Middle East and Africa 280,461 49,023 138,240 467,724 Asia Pacific 408,104 94,455 279,109 781,668 Europe 265,748 265,684 232,108 763,540 $ 1,860,489 $ 759,999 $ 1,212,178 $ 3,832,666 December 31, 2017 (2) (Amounts in thousands) EPD IPD FCD Total North America(1) $ 667,572 $ 301,841 $ 477,275 $ 1,446,688 Latin America(1) 140,418 28,559 33,207 202,184 Middle East and Africa 301,998 54,535 155,447 511,980 Asia Pacific 351,178 93,834 239,197 684,209 Europe 276,916 260,887 277,967 815,770 $ 1,738,082 $ 739,656 $ 1,183,093 $ 3,660,831 December 31, 2016 (2) (Amounts in thousands) EPD IPD FCD Total North America(1) $ 795,919 $ 328,026 $ 478,462 $ 1,602,407 Latin America(1) 204,123 34,112 49,440 287,675 Middle East and Africa 320,529 58,389 169,212 548,130 Asia Pacific 351,153 128,289 233,027 712,469 Europe 291,362 251,107 297,337 839,806 $ 1,963,086 $ 799,923 $ 1,227,478 $ 3,990,487 _____________________________________ (1) North America represents United States and Canada; Latin America includes Mexico. (2) Prior periods are presented in accordance with Topic 605. Contract Balances We receive payment from customers based on a contractual billing schedule and specific performance requirements as established in our contracts. We record billings as accounts receivable when an unconditional right to consideration exists. A contract asset represents revenue recognized in advance of our right to bill the customer under the terms of a contract. A contract liability represents our contractual billings in advance of revenue recognized for a contract. The following table presents opening and closing balances of contract assets and contract liabilities, current and long-term, for the year ended December 31, 2018 : ( Amounts in thousands) Contract Assets, net (Current) Long-term Contract Assets, net(1) Contract Liabilities (Current) Long-term Contract Liabilities(2) Beginning balance, January 1, 2018 $ 219,361 $ 3,990 $ 178,515 $ 3,925 Revenue recognized that was included in contract liabilities at the beginning of the period — — (123,458 ) (1,360 ) Increase due to revenue recognized in the period in excess of billings 846,922 6,668 — — Increase due to billings arising during the period in excess of revenue recognized — — 152,664 (481 ) Amounts transferred from contract assets to receivables (815,213 ) (2,503 ) — — Currency effects and other, net (22,491 ) 2,812 (5,263 ) (714 ) Ending balance, December 31, 2018 $ 228,579 $ 10,967 $ 202,458 $ 1,370 _____________________________________ (1) Included in other assets, net. (2) Included in retirement obligations and other liabilities.

Dispositions

Dispositions	12 Months Ended
	Dec. 31, 2018
Business Combinations [Abstract]
Dispositions	DISPOSITIONS IPD Business Divestiture On June 29, 2018, pursuant to a plan of sale approved by management, we executed an agreement to divest two IPD locations and associated product lines, including the related assets and liabilities. This transaction did not meet the criteria for classification of assets held for sale as of June 30, 2018 due to a contingency that could have potentially impacted the final terms and/or timing of the divestiture. The sale transaction was completed on August 9, 2018. During the twelve months ended December 31, 2018 , we recorded a pre-tax charge of $25.1 million , including a pre-tax charge of $17.4 million in the second quarter of 2018 and a loss on sale of the business of $7.7 million in the third quarter of 2018. The second quarter of 2018 pre-tax charge related to write-downs of inventory and long-lived assets to their estimated fair value, of which $7.7 million was recorded in COS and $9.7 million was recorded in SG&A. The third quarter of 2018 pre-tax charge primarily related to working capital changes since the second quarter of 2018 and net cash transferred at the closing date of $3.7 million . The sale included a manufacturing facility in Germany and a related assembly facility in France. In 2017, net sales related to the business totaled approximately $42 million , although the business produced an operating loss in each of the last two fiscal years. Vogt Effective July 6, 2017, we sold our FCD's Vogt product line and related assets and liabilities to a privately held company for $28.0 million of cash received at closing. The sale resulted in a pre-tax gain of $11.1 million recorded in gain on sale of business in the consolidated statements of income. In 2016, net sales related to the Vogt business totaled approximately $17 million , with earnings before interest and taxes of approximately $4 million . Gestra AG Effective May 2, 2017, we sold our FCD's Gestra AG ("Gestra") business to a leading provider of steam system solutions for $203.6 million ( €178.3 million ), which included $180.8 million ( €158.3 million ) of cash received at closing (net of divested cash and subsequent working capital adjustments) and $24.0 million ( €20.0 million ) of previous escrow amounts collected in the fourth quarter of 2017. The sale resulted in a pre-tax gain of $130.2 million ( $79.4 million after-tax) recorded in gain on sale of business in the consolidated statements of income. The sale included Gestra’s manufacturing facility in Germany as well as related operations in the U.S., the United Kingdom ("U.K."), Spain, Poland, Italy, Singapore and Portugal. In 2016, Gestra recorded revenues of approximately $101 million ( €92 million ) with earnings before interest and taxes of approximately $17 million ( €15 million ).

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	12 Months Ended
	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	GOODWILL AND OTHER INTANGIBLE ASSETS The changes in the carrying amount of goodwill for the years ended December 31, 2018 and 2017 are as follows: EPD IPD FCD Total (Amounts in thousands) Balance as of December 31, 2016 $ 473,831 $ 299,765 $ 431,458 $ 1,205,054 Dispositions — (1,900 ) (36,880 ) (38,780 ) Currency translation and other 8,378 21,435 22,101 51,914 Balance as of December 31, 2017 $ 482,209 $ 319,300 $ 416,679 $ 1,218,188 Currency translation and other (3,338 ) (8,032 ) (9,178 ) (20,548 ) Balance as of December 31, 2018 $ 478,871 $ 311,268 $ 407,501 $ 1,197,640 The following table provides information about our intangible assets for the years ended December 31, 2018 and 2017 : December 31, 2018 December 31, 2017 Useful Life (Years) Ending Gross Amount Accumulated Amortization Ending Gross Amount Accumulated Amortization (Amounts in thousands, except years) Finite-lived intangible assets: Engineering drawings(1) 10-22 $ 89,796 $ (75,239 ) $ 90,442 $ (71,761 ) Existing customer relationships(2) 5-10 82,235 (47,016 ) 84,291 (41,279 ) Patents 9-16 26,251 (26,136 ) 26,876 (26,231 ) Other 4-40 88,138 (37,145 ) 88,887 (34,251 ) $ 286,420 $ (185,536 ) $ 290,496 $ (173,522 ) Indefinite-lived intangible assets(3) $ 91,251 $ (1,585 ) $ 94,665 $ (1,590 ) ____________________________________ (1) Engineering drawings represent the estimated fair value associated with specific acquired product and component schematics. (2) Existing customer relationships acquired prior to 2011 had a useful life of five years. (3) Accumulated amortization for indefinite-lived intangible assets relates to amounts recorded prior to the implementation date of guidance issued in ASC 350. The following schedule outlines actual amortization expense recognized during 2018 and an estimate of future amortization based upon the finite-lived intangible assets owned at December 31, 2018 : Amortization Expense (Amounts in thousands) Actual for year ended December 31, 2018 $ 14,068 Estimated for year ended December 31, 2019 16,178 Estimated for year ended December 31, 2020 15,030 Estimated for year ended December 31, 2021 10,982 Estimated for year ended December 31, 2022 9,692 Estimated for year ended December 31, 2023 7,132 Thereafter 41,874 Amortization expense for finite-lived intangible assets was $15.3 million in 2017 and $13.9 million in 2016 .

Inventories

Inventories	12 Months Ended
	Dec. 31, 2018
Inventory Disclosure [Abstract]
Inventories	INVENTORIES Inventories, net consisted of the following: December 31, 2018 2017 (Amounts in thousands) Raw materials $ 310,204 $ 358,827 Work in process(1) 191,660 548,250 Finished goods(2) 205,814 215,849 Less: Progress billings — (160,044 ) Less: Excess and obsolete reserve (73,807 ) (78,609 ) Inventories, net $ 633,871 $ 884,273 ____________________________________ (1) In the second quarter of 2017, we recorded a $16.9 million charge for costs incurred related to a contract to supply oil and gas platform equipment to an end user in Latin America. This charge was primarily related to our IPD reporting segment and resulted in a decrease to work in process. (2) In the second quarter of 2018, we recorded a $7.7 million charge related to the divestiture of two IPD locations and related product lines, which resulted in a decrease to finished goods. Refer to Note 3 for further discussion. During 2018 , 2017 and 2016 , we recognized expenses of $16.2 million , $22.9 million and $14.6 million , respectively, for excess and obsolete inventory. These expenses are included in COS in our consolidated statements of income. As part of the adoption of the New Revenue Standard, certain work in process inventory and progress billings associated with POC contracts were recognized as cost of sales or reclassified to contract assets or contract liabilities. Refer to Note 2 for further discussion.

Stock-Based Compensation Plans

Stock-Based Compensation Plans	12 Months Ended
	Dec. 31, 2018
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 incentive stock options, non-statutory stock options, restricted shares, restricted share units and performance-based units (collectively referred to as "Restricted Shares"), stock appreciation rights and bonus stock. Of the 8,700,000 shares of common stock authorized under the 2010 Plan, 2,089,079 were available for issuance as of December 31, 2018 . The long-term incentive program was amended to allow Restricted Shares granted after January 1, 2016 to employees who retire and have achieved at least 55 years of age and ten years of service to continue to vest over the original vesting period ("55/10 Provision"). Stock Options — Options granted to officers, other employees and directors allow for the purchase of common shares at the market value of our stock on the date the options are granted. Options generally become exercisable after three years . Options generally expire ten years from the date of the grant or within a short period of time following the termination of employment or cessation of services by an option holder. No stock options were granted during the year ended December 31, 2018 , compared to the 114,943 stock options granted for the same period in 2017 . No stock options were granted for the same period in 2016. As of December 31, 2018 , 114,943 stock options were outstanding, with a grant date fair value of $2.0 million , which is expected to be recognized over a weighted-average period of approximately one year . No stock options were vested during years ended December 31, 2018 , 2017 or 2016 . Information related to stock options issued to officers, other employees and directors under all plans is presented in the following table: 2018 2017 2016 Shares Weighted Average Exercise Price Shares Weighted Average Exercise Price Shares Weighted Average Exercise Price Number of shares under option: Outstanding — beginning of year 114,943 $ 48.63 — $ — 84,261 $ 17.42 Granted — — 114,943 48.63 — — Exercised — — — — (84,261 ) 17.42 Canceled — — — — — — Outstanding — end of year 114,943 $ 48.63 114,943 $ 48.63 — $ — Exercisable — end of year — $ — — $ — — $ — The weighted average remaining contractual life of options outstanding at December 31, 2018 and 2017 was 8.3 years and 9.3 years , respectively. The total intrinsic value of stock options exercised for the year ended December 31, 2016 was $2.4 million . Restricted Shares — Generally, the restrictions on Restricted Shares do not expire for a minimum of one year and a maximum of three years , and shares are subject to forfeiture during the restriction period. Most typically, Restricted Share grants have staggered vesting periods over one to three years from grant date. The intrinsic value of the Restricted Shares, which is typically the product of share price at the date of grant and the number of Restricted Shares granted, is amortized on a straight-line basis to compensation expense over the periods in which the restrictions lapse. 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, except for awards related to the 55/10 Provision which are expensed when granted. Unearned compensation is amortized to compensation expense over the vesting period of the Restricted Shares. As of December 31, 2018 and 2017 , we had $24.3 million and $16.7 million , respectively, of unearned compensation cost related to unvested Restricted Shares, 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 years ended December 31, 2018 , 2017 and 2016 was $14.3 million , $30.5 million and $38.8 million , respectively. We recorded stock-based compensation for Restricted Shares as follows: Year Ended December 31, 2018 2017 2016 (Amounts in millions) Stock-based compensation expense $ 19.9 $ 22.8 $ 30.2 Related income tax benefit (4.5 ) (5.2) (10.4) Net stock-based compensation expense $ 15.4 $ 17.6 $ 19.8 The following table summarizes information regarding Restricted Shares: Year Ended December 31, 2018 Shares Weighted Average Grant-Date Fair Value Number of unvested Restricted Shares: Outstanding — beginning of year 1,203,852 $ 47.10 Granted 932,392 44.14 Vested (308,747 ) 46.38 Canceled (297,283 ) 49.09 Outstanding — ending of year 1,530,214 $ 45.06 Unvested Restricted Shares outstanding as of December 31, 2018 , includes approximately 767,000 units with performance-based vesting provisions. Performance-based units are issuable in common stock and vest upon the achievement of pre-defined performance targets. Performance-based units granted prior to 2017 have performance targets 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. Performance-based units granted in 2017 and 2018 have performance targets based on our average return on invested capital and our total shareholder return ("TSR") over a three-year period. Most units were granted in three annual grants since January 1, 2016 and have a vesting percentage between 0% and 200% depending on the achievement of the specific performance targets. Except for shares granted under the 55/10 Provision, compensation expense is recognized ratably over a cliff-vesting period of 36 months based on the fair value of our common stock on the date of grant, as adjusted for actual forfeitures. During the performance period, earned and unearned compensation expense is adjusted based on changes in the expected achievement of the performance targets for all performance-based units granted except for the TSR-based units. Vesting provisions range from 0 to approximately 1,534,000 shares based on performance targets. As of December 31, 2018 , we estimate vesting of approximately 615,000 shares based on expected achievement of performance targets.

Derivatives and Hedging Activit

Derivatives and Hedging Activities	12 Months Ended
	Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging Activities	DERIVATIVES AND HEDGING ACTIVITIES Our risk management and foreign currency derivatives and hedging policy specifies the conditions under which we may enter into derivative contracts. See Note 1 for additional information on our purpose for entering into derivatives and our overall risk management strategies. We enter into foreign exchange forward 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. Foreign exchange contracts had a notional values of $280.9 million and $235.6 million at December 31, 2018 and 2017 , respectively. At December 31, 2018 , the length of foreign exchange contracts currently in place ranged from 4 days to 21 months . During the second quarter of 2017, we discontinued our program to designate forward exchange contracts. The discontinuance of this program had no impact on our financial position as of December 31, 2017 . 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 forward exchange contracts and expect all counterparties to meet their obligations. We have not experienced credit losses from our counterparties. The fair values of foreign exchange contracts are summarized below: Year Ended December 31, 2018 2017 (Amounts in thousands) Current derivative assets $ 535 $ 2,489 Noncurrent derivative assets 5 177 Current derivative liabilities 3,285 284 Noncurrent derivative liabilities 2 56 Current and noncurrent derivative assets are reported in our consolidated balance sheets in prepaid expenses and other and other assets, net, respectively. Current and noncurrent derivative liabilities are reported in our 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: Year Ended December 31, 2018 2017 2016 (Amounts in thousands) (Loss) gain recognized in income $ (3,154 ) $ 2,122 $ 5,693 Gains and losses recognized in our 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 2022 EUR Senior Notes discussed in Note 11 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 2022 EUR Senior Notes due to remeasurement of the effective portion is reported in accumulated other comprehensive loss on our 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 consolidated statements 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 years ended December 31, 2018 , 2017 or 2016 .

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
	Dec. 31, 2018
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	FAIR VALUE OF FINANCIAL INSTRUMENTS The fair value of our debt, excluding the Senior Notes (as described in Note 11), was estimated using interest rates on similar debt recently issued by companies with credit metrics similar to ours and is classified as Level II under the fair value hierarchy. The carrying value of our debt is included in Note 11 and, except for the Senior Notes, approximates fair value. The estimated fair value of the Senior Notes is based on Level I quoted market rates. The estimated fair value of our Senior Notes at December 31, 2018 was $1,362.5 million compared to the carrying value of $1,364.8 million . The carrying amounts of our other financial instruments (i.e., cash and cash equivalents, accounts receivable, net and accounts payable) approximated fair value due to their short-term nature at December 31, 2018 and December 31, 2017 .

Details of Certain Consolidated

Details of Certain Consolidated Balance Sheet Captions	12 Months Ended
	Dec. 31, 2018
Details of Certain Consolidated Balance Sheet Captions [Abstract]
Details of Certain Consolidated Balance Sheet Captions	DETAILS OF CERTAIN CONSOLIDATED BALANCE SHEET CAPTIONS The following tables present financial information of certain consolidated balance sheet captions. Accounts Receivable, net — Accounts receivable, net were: December 31, 2018 2017 (Amounts in thousands) Accounts receivable $ 843,935 $ 915,824 Less: allowance for doubtful accounts (51,501 ) (59,113 ) Accounts receivable, net $ 792,434 $ 856,711 Property, Plant and Equipment, net — Property, plant and equipment, net were: December 31, 2018 2017 (Amounts in thousands) Land $ 72,701 $ 84,551 Buildings and improvements 441,006 470,354 Machinery, equipment and tooling 634,838 682,316 Software, furniture and fixtures and other 418,185 402,608 Gross property, plant and equipment(1) 1,566,730 1,639,829 Less: accumulated depreciation (956,634 ) (968,033 ) Property, plant and equipment, net $ 610,096 $ 671,796 (1) In the second quarter of 2018, we recorded a $9.7 million charge related to the divestiture of two IPD locations and related product lines. In the second quarter of 2017, we recorded a $26.0 million impairment charge related to our manufacturing facility in Brazil. Accrued Liabilities — Accrued liabilities were: December 31, 2018 2017 (Amounts in thousands) Wages, compensation and other benefits $ 198,311 $ 180,717 Commissions and royalties 19,673 23,240 Customer advance payments — 273,127 Progress billings in excess of accumulated costs — 4,411 Warranty costs and late delivery penalties 31,683 53,027 Sales and use tax 14,486 14,830 Income tax 9,865 27,862 Other 117,388 146,982 Accrued liabilities $ 391,406 $ 724,196 As part of the adoption of the New Revenue Standard, customer advance payments and progress billings in excess of accumulated costs were reclassified to contract assets or contract liabilities. Refer to Note 2 of this Annual Report for further discussion. "Other" accrued liabilities include professional fees, lease obligations, insurance, interest, freight, accrued cash dividends payable, legal and environmental matters, derivative liabilities, restructuring reserves and other items, none of which individually exceed 5% of current liabilities. Retirement Obligations and Other Liabilities — Retirement obligations and other liabilities were: December 31, 2018 2017 (Amounts in thousands) Pension and postretirement benefits $ 183,012 $ 203,640 Deferred taxes 159,404 156,276 Legal and environmental 21,949 25,996 Uncertain tax positions and other tax liabilities 57,553 72,711 Other 37,775 38,331 Retirement obligations and other liabilities $ 459,693 $ 496,954

Equity Method Investments

Equity Method Investments	12 Months Ended
	Dec. 31, 2018
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments	EQUITY METHOD INVESTMENTS We occasionally enter into joint venture arrangements with local country partners as our preferred means of entry into countries where barriers to entry may exist. Similar to our consolidated subsidiaries, these unconsolidated joint ventures generally operate within our primary businesses of designing, manufacturing, assembling and distributing fluid motion and control products and services. We have agreements with certain of these joint ventures that restrict us from otherwise entering the respective market and certain joint ventures produce and/or sell our products as part of their broader product offering. Net earnings from investments in unconsolidated joint ventures is reported in net earnings from affiliates in our consolidated statements of income. Given the integrated role of the unconsolidated joint ventures in our business, net earnings from affiliates is presented as a component of operating income. As of December 31, 2018 , we had investments in seven joint ventures, one located in each of Chile, India, Saudi Arabia, South Korea and the United Arab Emirates and two in China that were accounted for using the equity method and are immaterial for disclosure purposes.

Debt and Lease Obligations

Debt and Lease Obligations	12 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
Debt and Lease Obligations	DEBT AND LEASE OBLIGATIONS Debt, including capital lease obligations, consisted of: December 31, 2018 2017 (Amounts in thousands) 1.25% EUR Senior Notes due March 17, 2022, net of unamortized discount and debt issuance costs of $3,914 and $5,335 at December 31, 2018 and 2017, respectively $ 569,536 $ 594,465 3.50% USD Senior Notes due September 15, 2022, net of unamortized discount and debt issuance costs of $2,589 and $3,230 at December 31, 2018 and 2017, respectively 497,411 496,770 4.00% USD Senior Notes due November 15, 2023, net of unamortized discount and debt issuance costs of $2,192 and $2,590 at December 31, 2018 and 2017, respectively 297,808 297,410 Term Loan Facility, interest rate of 4.30% and 3.19% at December 31, 2018 and 2017, net of debt issuance costs of $249 and $585, respectively 104,751 164,415 Capital lease obligations and other borrowings 13,541 22,197 Debt and capital lease obligations 1,483,047 1,575,257 Less amounts due within one year 68,218 75,599 Total debt due after one year $ 1,414,829 $ 1,499,658 Scheduled maturities of the Senior Credit Facility (as described below), as well as our Senior Notes and other debt, are: Term Loan Senior Notes and other debt Total (Amounts in thousands) 2019 $ 60,000 $ 8,218 $ 68,218 2020 44,751 5,322 50,073 2022 — 1,066,948 1,066,948 2023 and thereafter — 297,808 297,808 Total $ 104,751 $ 1,378,296 $ 1,483,047 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. The 2022 EUR Senior Notes were priced at 99.336% of par value, reflecting a discount to the aggregate principal amount. On November 1, 2013 we completed the public offering of $300.0 million in aggregate principal amount of senior notes due November 15, 2023 ("2023 Senior Notes"). The 2023 Senior Notes bear an interest rate of 4.00% per year, payable on May 15 and November 15 of each year. The 2023 Senior Notes were priced at 99.532% of par value, reflecting a discount to the aggregate principal amount. On September 11, 2012, we completed the public offering of $500.0 million in aggregate principal amount of senior notes due September 15, 2022 ("2022 Senior Notes"). The 2022 Senior Notes bear an interest rate of 3.50% per year, payable on March 15 and September 15 of each year. The 2022 Senior Notes were priced at 99.615% of par value, reflecting a discount to the aggregate principal amount. We have the right to redeem the 2022 Senior Notes and 2023 Senior Notes at any time prior to June 15, 2022 and August 15, 2023, respectively, in whole or in part, at our option, at a redemption price equal to the greater of: (1) 100% of the principal amount of the senior notes being redeemed; or (2) the sum of the present values of the remaining scheduled payments of principal and interest in respect of the Senior Notes being redeemed discounted to the redemption date on a semi-annual basis, at the applicable Treasury Rate plus 30 basis points for the 2022 Senior Notes and plus 25 basis points for the 2023 Senior Notes. In addition, at any time on or after June 15, 2022 for the 2022 Senior Notes and August 15, 2023 for the 2023 Senior Notes, we may redeem the Senior Notes at a redemption price equal to 100% of the principal amount of the Senior Notes being redeemed. In each case, we will also pay the accrued and unpaid interest on the principal amount being redeemed to the redemption date. Similarly, we have the right to redeem the 2022 EUR Senior Notes on or after December 17, 2021, in whole or in part, at our option, at a redemption price equal to the greater of: (1) 100% of the principal amount of the senior notes being redeemed; or (2) the sum of the present values of the remaining scheduled payments of principal and interest in respect of the Senior Notes being redeemed (exclusive of interest accrued to, but excluding, the date of redemption) discounted to the redemption date on an annual basis, at the Comparable German Government Bond Rate plus 25 basis points. Senior Credit Facility Our amended credit agreement provides for a $195.0 million term loan (“Term Loan Facility”) and a $800.0 million revolving credit facility (“Revolving Credit Facility” and, together with the Term Loan Facility, the “Senior Credit Facility”) with a maturity of October 14, 2020. The current Senior Credit Facility includes the following: (i) leverage ratio of 4.00 times debt to total Consolidated EBITDA through June 30, 2019, with a step-down to 3.75 for any fiscal quarter ending after July 1, 2019, (ii)a pricing level on our senior unsecured long-term debt ratings at or below Ba2/BB, with an interest rate margin for LIBOR loans of 2.00% and for base rate loans of 1.00% and (iii) maximum principal amount of priority debt up to 7.5% of the consolidated tangible assets and a maximum amount of receivables that can be securitized of $100 million. Subject to certain conditions, including lender approval, 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. As of December 31, 2018 and December 31, 2017 , we had no revolving loans outstanding under the Revolving Credit Facility. We had outstanding letters of credit of $92.9 million and $94.8 million at December 31, 2018 and December 31, 2017 , respectively, which together with financial covenant limitations based on the terms of our Senior Credit Facility, contributed to the reduction of our borrowing capacity to $513.7 million and $644.8 million , respectively. The Senior Credit Facility contains, among other things, covenants defining our and our subsidiaries' ability to dispose of assets, merge, pay dividends, repurchase or redeem capital stock and indebtedness, incur indebtedness and guarantees, create liens, enter into agreements with negative pledge clauses, make certain investments or acquisitions, enter into transactions with affiliates or engage in any business activity other than our existing business. Our compliance with these financial covenants under the Senior Credit Facility is tested quarterly. We were in compliance with the covenants as of December 31, 2018 . Repayment of Obligations —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 0.20% (per annum) at December 31, 2018 . We made scheduled principal repayments under our Term Loan Facility of $60.0 million in both 2018 and 2017 and 2016 . We have scheduled principal repayments of $15.0 million due in each of the next four quarters of 2019 under our Term Loan Facility. Operating Leases We have non-cancellable operating leases for certain offices, service and quick response centers, manufacturing and operating facilities, machinery, equipment and automobiles. Rental expense relating to operating leases was $53.7 million , $54.9 million and $54.7 million in 2018 , 2017 and 2016 , respectively. The future minimum lease payments due under non-cancellable operating leases are (amounts in thousands): Year Ended December 31, 2019 $ 68,443 2020 49,874 2021 38,446 2022 28,496 2023 21,473 Thereafter 66,518 Total minimum lease payments $ 273,250

Pension and Postretirement Bene

Pension and Postretirement Benefits	12 Months Ended
	Dec. 31, 2018
Retirement Benefits [Abstract]
Pension and Postretirement Benefits	PENSION AND POSTRETIREMENT BENEFITS We sponsor several noncontributory defined benefit pension plans, covering substantially all U.S. employees and certain non-U.S. employees, which provide benefits based on years of service, age, job grade levels and type of compensation. Retirement benefits for all other covered employees are provided through contributory pension plans, cash balance pension plans and government-sponsored retirement programs. All funded defined benefit pension plans receive funding based on independent actuarial valuations to provide for current service and an amount sufficient to amortize unfunded prior service over periods not to exceed 30 years, with funding falling within the legal limits prescribed by prevailing regulation. We also maintain unfunded defined benefit plans that, as permitted by local regulations, receive funding only when benefits become due. Our defined benefit plan strategy is to ensure that current and future benefit obligations are adequately funded in a cost-effective manner. Additionally, our investing objective is to achieve the highest level of investment performance that is compatible with our risk tolerance and prudent investment practices. Because of the long-term nature of our defined benefit plan liabilities, our funding strategy is based on a long-term perspective for formulating and implementing investment policies and evaluating their investment performance. The asset allocation of our defined benefit plans reflects our decision about the proportion of the investment in equity and fixed income securities, and, where appropriate, the various sub-asset classes of each. At least annually, we complete a comprehensive review of our asset allocation policy and the underlying assumptions, which includes our long-term capital markets rate of return assumptions and our risk tolerances relative to our defined benefit plan liabilities. The expected rates of return on defined benefit plan assets are derived from review of the asset allocation strategy, expected long-term performance of asset classes, risks and other factors adjusted for our specific investment strategy. These rates are impacted by changes in general market conditions, but because they are long-term in nature, short-term market changes do not significantly impact the rates. Our U.S. defined benefit plan assets consist of a balanced portfolio of equity and fixed income securities. Our non-U.S. defined benefit plan assets include a significant concentration of United Kingdom ("U.K.") fixed income securities . We monitor investment allocations and manage plan assets to maintain acceptable levels of risk. For all periods presented, we used a measurement date of December 31 for each of our U.S. and non-U.S. pension plans and postretirement medical plans. U.S. Defined Benefit Plans We maintain qualified and non-qualified defined benefit pension plans in the U.S. The qualified plan provides coverage for substantially all full-time U.S. employees who receive benefits, up to an earnings threshold specified by the U.S. Department of Labor. The non-qualified plans primarily cover a small number of employees including current and former members of senior management, providing them with benefit levels equivalent to other participants, but that are otherwise limited by U.S. Department of Labor rules. The U.S. plans are designed to operate as "cash balance" arrangements, under which the employee has the option to take a lump sum payment at the end of their service. The total accumulated benefit obligation is equivalent to the total projected benefit obligation ("Benefit Obligation"). The following are assumptions related to the U.S. defined benefit pension plans: Year Ended December 31, 2018 2017 2016 Weighted average assumptions used to determine Benefit Obligations: Discount rate 4.34 % 3.63 % 4.00 % Rate of increase in compensation levels 3.50 4.01 4.00 Weighted average assumptions used to determine net pension expense: Long-term rate of return on assets 6.00 % 6.00 % 6.00 % Discount rate 3.63 4.00 4.75 Rate of increase in compensation levels 4.01 4.01 4.00 At December 31, 2018 as compared with December 31, 2017 , we increased our discount rate from 3.63% to 4.34% based on an analysis of publicly-traded investment grade U.S. corporate bonds, which had a higher yield due to current market conditions. In determining 2018 expense, the expected rate of return on U.S. plan assets remained constant at 6.00% , primarily based on our target allocations and expected long-term asset returns. The long-term rate of return assumption is calculated using a quantitative approach that utilizes unadjusted historical returns and asset allocation as inputs for the calculation. For all U.S. plans, we adopted the RP-2006 mortality tables and the MP-2018 improvement scale published in October 2018. We applied the RP-2006 tables based on the constituency of our plan population for union and non-union participants. We adjusted the improvement scale to utilize 75% of the ultimate improvement rate, consistent with assumptions adopted by the Social Security Administration trustees, based on long-term historical experience. Currently, we believe this approach provides the best estimate of our future obligation. Most plan participants elect to receive plan benefits as a lump sum at the end of service, rather than an annuity. As such, the updated mortality tables had an immaterial effect on our pension obligation. Net pension expense for the U.S. defined benefit pension plans (including both qualified and non-qualified plans) was: Year Ended December 31, 2018 2017 2016 (Amounts in thousands) Service cost $ 22,195 $ 22,257 $ 22,583 Interest cost 15,789 16,878 19,072 Expected return on plan assets (25,704 ) (24,505 ) (23,997 ) Settlement (gain) loss (462 ) (216 ) 91 Amortization of unrecognized prior service cost 164 112 488 Amortization of unrecognized net loss 5,514 6,021 4,999 U.S. net pension expense $ 17,496 $ 20,547 $ 23,236 The estimated prior service cost and the estimated net loss for the U.S. defined benefit pension plans that will be amortized from accumulated other comprehensive loss into pension expense in 2019 is $0.2 million and $3.5 million , respectively. We amortize estimated prior service benefits and estimated net losses over the remaining expected service period. The following summarizes the net pension (liability) asset for U.S. plans: December 31, 2018 2017 (Amounts in thousands) Plan assets, at fair value $ 425,792 $ 464,779 Benefit Obligation (432,595 ) (461,355 ) Funded status $ (6,803 ) $ 3,424 The following summarizes amounts recognized in the balance sheet for U.S. plans: December 31, 2018 2017 (Amounts in thousands) Noncurrent assets $ — $ 10,853 Current liabilities (232 ) (459 ) Noncurrent liabilities (6,571 ) (6,970 ) Funded status $ (6,803 ) $ 3,424 The following is a summary of the changes in the U.S. defined benefit plans’ pension obligations: December 31, 2018 2017 (Amounts in thousands) Balance — January 1 $ 461,355 $ 449,601 Service cost 22,195 22,257 Interest cost 15,789 16,878 Plan amendments and settlements (3,016 ) (3,006 ) Actuarial (gain) loss(1) (25,908 ) 9,404 Benefits paid (37,820 ) (33,779 ) Balance — December 31 $ 432,595 $ 461,355 Accumulated benefit obligations at December 31 $ 431,973 $ 461,355 _______________________________________ (1) The actuarial (gain) loss in 2018 and 2017 primarily reflect the impact of changes in the discount rate. The following table summarizes the expected cash benefit payments for the U.S. defined benefit pension plans in the future (amounts in millions): 2019 $ 41.1 2020 42.8 2021 43.5 2022 41.4 2023 42.4 2024-2028 196.1 The following table shows the change in accumulated other comprehensive loss attributable to the components of the net cost and the change in Benefit Obligations for U.S. plans, net of tax: December 31, 2018 2017 (Amounts in thousands) Balance — January 1 $ (49,790 ) $ (69,132 ) Amortization of net loss 4,216 3,766 Amortization of prior service cost 125 70 Net (loss) gain arising during the year (16,216 ) 16,009 Settlement gain (353 ) (135 ) Prior service cost arising during the year — (368 ) Balance — December 31 $ (62,018 ) $ (49,790 ) Amounts recorded in accumulated other comprehensive loss consist of: December 31, 2018 2017 (Amounts in thousands) Unrecognized net loss $ (61,129 ) $ (48,825 ) Unrecognized prior service cost (889 ) (965 ) Accumulated other comprehensive loss, net of tax $ (62,018 ) $ (49,790 ) The following is a reconciliation of the U.S. defined benefit pension plans’ assets: December 31, 2018 2017 (Amounts in thousands) Balance — January 1 $ 464,779 $ 418,854 Return on plan assets (21,414 ) 59,462 Company contributions 23,263 23,836 Benefits paid (37,820 ) (33,779 ) Settlements (3,016 ) (3,594 ) Balance — December 31 $ 425,792 $ 464,779 We contributed $23.3 million and $23.8 million to the U.S. defined benefit pension plans during 2018 and 2017 , respectively. These payments exceeded the minimum funding requirements mandated by the U.S. Department of Labor rules. Our estimated contribution in 2019 is expected to be approximately $20 million , excluding direct benefits paid. All U.S. defined benefit plan assets are held by the qualified plan. The asset allocations for the qualified plan at the end of 2018 and 2017 by asset category, are as follows: Target Allocation at December 31, Percentage of Actual Plan Assets at December 31, Asset category 2018 2017 2018 2017 Cash and cash equivalents — % — % 1 % 1 % Cash and cash equivalents — % — % 1 % 1 % Global Equity 30 % 36 % 30 % 36 % Global Real Assets 13 % 12 % 13 % 12 % Equity securities 43 % 48 % 43 % 48 % Diversified Credit 12 % 12 % 13 % 12 % Liability-Driven Investment 45 % 40 % 43 % 39 % Fixed income 57 % 52 % 56 % 51 % _______________________________________ None of our common stock is directly held by our qualified plan. Our investment strategy is to earn a long-term rate of return consistent with an acceptable degree of risk and minimize our cash contributions over the life of the plan, while taking into account the liquidity needs of the plan. We preserve capital through diversified investments in high quality securities. Our current allocation target is to invest approximately 43% of plan assets in equity securities and 57% in fixed income securities. Within each investment category, assets are allocated to various investment strategies. Professional money management firms manage our assets, and we engage a consultant to assist in evaluating these activities. We periodically review the allocation target, generally in conjunction with an asset and liability study and in consideration of our future cash flow needs. We regularly rebalance the actual allocation to our target investment allocation. Plan assets are invested in commingled funds. Our "Pension and Investment Committee" is responsible for setting the investment strategy and the target asset allocation for the plan's assets. As the qualified plan approached fully funded status, we implemented a Liability-Driven Investing ("LDI") strategy, which more closely aligns the duration of the plan's assets with the duration of its liabilities. The LDI strategy results in an asset portfolio that more closely matches the behavior of the liability, thereby reducing the volatility of the plan's funded status. The plan’s financial instruments, shown below, are presented at fair value. See Note 1 for further discussion on how the hierarchical levels of the fair values of the Plan’s investments are determined. The fair values of our U.S. defined benefit plan assets were: At December 31, 2018 At December 31, 2017 Hierarchical Levels Hierarchical Levels Total I II III Total I II III (Amounts in thousands) (Amounts in thousands) Cash and cash equivalents $ 4,778 $ 4,778 $ — $ — $ 5,494 $ 5,494 $ — $ — Commingled Funds: Equity securities Global Equity(a) 126,165 — 126,165 — 167,336 — 167,336 — Global Real Assets(b) 55,046 — 55,046 — 55,261 — 55,261 — Fixed income securities Diversified Credit(c) 55,039 — 55,039 — 55,440 — 55,440 — Liability-Driven Investment(d) 184,764 — 184,764 — 181,248 — 181,248 — $ 425,792 $ 4,778 $ 421,014 $ — $ 464,779 $ 5,494 $ 459,285 $ — _______________________________________ (a) Global Equity fund seeks to closely track the performance of the MSCI All Country World Index. (b) Global Real Asset funds seek to provide exposure to the listed global real estate investment trusts (REITs) and infrastructure markets. (c) Diversified Credit funds seek to provide exposure to the high yield, emerging markets, bank loans, and securitized credit markets. (d) LDI funds seek to invest in high quality fixed income securities that collectively closely match those found in discount curves used to value the plan's liabilities. Non-U.S. Defined Benefit Plans We maintain defined benefit pension plans, which cover some or all of our employees in the following countries: Austria, Belgium, Canada, France, Germany, India, Italy, Mexico, The Netherlands, Sweden, Switzerland and the U.K. The assets of the plans in the U.K. ( two plans), The Netherlands and Canada represent 100% of the total non-U.S. plan assets ("non-U.S. assets"). Details of other countries’ plan assets have not been provided due to immateriality. The following are assumptions related to the non-U.S. defined benefit pension plans: Year Ended December 31, 2018 2017 2016 Weighted average assumptions used to determine Benefit Obligations: Discount rate 2.42 % 2.25 % 2.34 % Rate of increase in compensation levels 3.28 3.25 3.22 Weighted average assumptions used to determine net pension expense: Long-term rate of return on assets 3.62 % 3.88 % 4.68 % Discount rate 2.25 2.34 3.13 Rate of increase in compensation levels 3.25 3.22 3.61 At December 31, 2018 as compared with December 31, 2017 , we increased our average discount rate for non-U.S. plans from 2.25% to 2.42% based on analysis of bonds and other publicly-traded instruments, by country, which had higher yields due to market conditions . To determine 2018 pension expense, we decreased our average expected rate of return on plan assets from 3.88% at December 31, 2017 to 3.62% at December 31, 2018 , primarily based on our target allocations and expected long-term asset returns. As the expected rate of return on plan assets is long-term in nature, short-term market changes do not significantly impact the rate. Many of our non-U.S. defined benefit plans are unfunded, as permitted by local regulation. The expected long-term rate of return on assets for funded plans was determined by assessing the rates of return for each asset class and is calculated using a quantitative approach that utilizes unadjusted historical returns and asset allocation as inputs for the calculation. We work with our actuaries to determine the reasonableness of our long-term rate of return assumptions by looking at several factors including historical returns, expected future returns, asset allocation, risks by asset class and other items. Net pension expense for non-U.S. defined benefit pension plans was: Year Ended December 31, 2018 2017 2016 (Amounts in thousands) Service cost $ 7,208 $ 7,247 $ 7,131 Interest cost 8,970 9,320 11,623 Expected return on plan assets (8,747 ) (8,834 ) (10,013 ) Amortization of unrecognized net loss 3,626 3,741 4,751 Amortization of unrecognized prior service cost (benefit) 33 (4 ) 4 Settlement (gain) loss and other (521 ) 2,434 780 Non-U.S. net pension expense $ 10,569 $ 13,904 $ 14,276 In 2019 , there is $0.3 million estimated prior service cost that will be amortized from accumulated other comprehensive loss into pension expense for the non-U.S. defined benefit pension plans. The estimated net loss for the non-U.S. defined benefit pension plans that will be amortized from accumulated other comprehensive loss into pension expense in 2019 is $3.0 million . We amortize estimated net losses over the remaining expected service period or over the remaining expected lifetime of inactive participants for plans with only inactive participants. The following summarizes the net pension liability for non-U.S. plans: December 31, 2018 2017 (Amounts in thousands) Plan assets, at fair value $ 232,175 $ 248,733 Benefit Obligation (376,649 ) (413,960 ) Funded status $ (144,474 ) $ (165,227 ) The following summarizes amounts recognized in the balance sheet for non-U.S. plans: December 31, 2018 2017 \ (Amounts in thousands) Noncurrent assets $ 17,864 $ 13,908 Current liabilities (7,782 ) (8,392 ) Noncurrent liabilities (154,556 ) (170,743 ) Funded status $ (144,474 ) $ (165,227 ) The following is a reconciliation of the non-U.S. plans’ defined benefit pension obligations: December 31, 2018 2017 (Amounts in thousands) Balance — January 1 $ 413,960 $ 383,947 Service cost 7,208 7,247 Interest cost 8,970 9,320 Employee contributions 238 228 Settlements and other (7,896 ) (9,260 ) Actuarial gain(1) (8,839 ) (1,913 ) Net benefits and expenses paid (16,632 ) (18,701 ) Currency translation impact(2) (20,360 ) 43,092 Balance — December 31 $ 376,649 $ 413,960 Accumulated benefit obligations at December 31 $ 356,989 $ 391,102 _______________________________________ (1) The 2018 actuarial gain primarily reflects the increase in the discount rates for U.K., the Euro-zone and Mexico. (2) In 2018 the currency translation impact reflects the strengthening of the U.S. dollar against our significant currencies, primarily the Euro and British pound, while in 2017 the currency translation impact reflects the weakening of the U.S. dollar against our significant currencies, primarily the Euro and British pound. The following table summarizes the expected cash benefit payments for the non-U.S. defined benefit plans in the future (amounts in millions): 2019 $ 15.8 2020 15.8 2021 16.6 2022 17.6 2023 17.6 2024-2028 93.0 The following table shows the change in accumulated other comprehensive loss attributable to the components of the net cost and the change in Benefit Obligations for non-U.S. plans, net of tax: December 31, 2018 2017 (Amounts in thousands) Balance — January 1 $ (67,872 ) $ (68,260 ) Amortization of net loss 3,260 2,756 Net gain arising during the year 2,458 2,289 Settlement (gain) loss (386 ) 1,668 Prior service (cost) benefit arising during the year (3,080 ) 28 Currency translation impact and other 3,532 (6,353 ) Balance — December 31 $ (62,088 ) $ (67,872 ) Amounts recorded in accumulated other comprehensive loss consist of: December 31, 2018 2017 (Amounts in thousands) Unrecognized net loss $ (58,697 ) $ (67,886 ) Unrecognized prior service (cost) gain (3,391 ) 14 Accumulated other comprehensive loss, net of tax $ (62,088 ) $ (67,872 ) The following is a reconciliation of the non-U.S. plans’ defined benefit pension assets: December 31, 2018 2017 (Amounts in thousands) Balance — January 1 $ 248,733 $ 223,491 (Loss) return on plan assets (580 ) 10,871 Employee contributions 238 228 Company contributions 21,696 18,494 Settlements (7,776 ) (7,383 ) Currency translation impact and other (13,504 ) 21,733 Net benefits and expenses paid (16,632 ) (18,701 ) Balance — December 31 $ 232,175 $ 248,733 Our contributions to non-U.S. defined benefit pension plans in 2019 are expected to be approximately $9 million , excluding direct benefits paid. The asset allocations for the non-U.S. defined benefit pension plans at the end of 2018 and 2017 are as follows: Target Allocation at December 31, Percentage of Actual Plan Assets at December 31, Asset category 2018 2017 2018 2017 Cash and cash equivalents 7 % 3 % 7 % 3 % Cash and cash equivalents 7 % 3 % 7 % 3 % North American Companies 3 % 3 % 3 % 3 % Global Equity 2 % 3 % 2 % 3 % Equity securities 5 % 6 % 5 % 6 % U.K. Government Gilt Index 43 % 41 % 43 % 41 % U.K. Corporate Bond Index — % 1 % — % 1 % Global Fixed Income Bond 2 % 2 % 2 % 2 % Liability-Driven Investment 9 % 9 % 9 % 9 % Fixed income 54 % 53 % 54 % 53 % Multi-asset 19 % 22 % 19 % 22 % Buy-in Contract 10 % 10 % 10 % 10 % Other 5 % 6 % 5 % 6 % Other types 34 % 38 % 34 % 38 % None of our common stock is held directly by these plans. In all cases, our investment strategy for these plans is to earn a long-term rate of return consistent with an acceptable degree of risk and minimize our cash contributions over the life of the plan, while taking into account the liquidity needs of the plan and the legal requirements of the particular country. We preserve capital through diversified investments in high quality securities. Asset allocation differs by plan based upon the plan’s benefit obligation to participants, as well as the results of asset and liability studies that are conducted for each plan and in consideration of our future cash flow needs. Professional money management firms manage plan assets and we engage a consultant in the U.K. to assist in evaluation of these activities. The assets of the U.K. plans are overseen by a group of Trustees who review the investment strategy, asset allocation and fund selection. These assets are passively managed as they are invested in index funds that attempt to match the performance of the specified benchmark index. The fair values of the non-U.S. assets were: At December 31, 2018 At December 31, 2017 Hierarchical Levels Hierarchical Levels Total I II III Total I II III (Amounts in thousands) (Amounts in thousands) Cash $ 15,105 $ 15,105 $ — — $ 6,815 $ 6,815 $ — $ — Commingled Funds: Equity securities North American Companies(a) 6,603 — 6,603 — 7,119 — 7,119 — Global Equity(b) 4,648 — 4,648 — 8,951 — 8,951 — Fixed income securities U.K. Government Gilt Index(c) 99,482 — 99,482 — 103,230 — 103,230 — U.K. Corporate Bond Index(d) 1,192 — 1,192 — 1,316 — 1,316 — Global Fixed Income Bond(e) 4,110 — 4,110 — 5,350 — 5,350 — Liability-Driven Investment(f) 20,004 — 20,004 — 21,837 — 21,837 — Other Types of Investments: Multi-asset(g) 44,147 — 44,147 — 55,503 — 55,503 — Buy-in Contract(h) 23,616 — — 23,616 24,484 — — 24,484 Other(i) 13,268 — — 13,268 14,128 — — 14,128 $ 232,175 $ 15,105 $ 180,186 $ 36,884 $ 248,733 $ 6,815 $ 203,306 $ 38,612 _______________________________________ (a) North American Companies represents U.S. and Canadian large cap equity funds, which are managed and track their respective benchmarks (FTSE All-World USA Index and FTSE All-World Canada Index). (b) Global Equity represents actively managed, global equity funds taking a top-down strategic view on the different regions by analyzing companies based on fundamentals, market-driven, thematic and quantitative factors to generate alpha. (c) U.K. Government Gilt Index represents U.K. government issued fixed income investments which are passively managed and track their respective benchmarks. (d) U.K. Corporate Bond Index represents U.K. corporate bond investments, which are passively managed and track the iBoxx Over 15 years £ Non-Gilt Index. (e) Global Fixed Income Bond represents investment funds that are actively managed, diversified and invested in traditional government bonds, high-quality corporate bonds, asset-backed securities and emerging market debt. (f) Liability-Driven Investment seeks to invest in fixed income securities that collectively closely match those found in discount curves used to value the plan's liabilities. (g) Multi-asset seeks an attractive risk-adjusted return by investing in a diversified portfolio of strategies, including equities and fixed income. (h) Buy-in contract represents an asset held by the Netherlands plan, whereby the cost of providing benefits is funded by the contract. The fair value of the asset as January 1, 2018 was $24.5 million with contributions and currency adjustments resulting in a fair value of $23.6 million at December 31, 2018 . The fair value of this asset is based on the current present value of accrued benefits and will fluctuate based on changes in the obligations associated with covered plan members as well as the assumptions used in the present value calculation. (i) Includes assets held by plans outside the United Kingdom and the Netherlands. Details, including Level III rollforward details are not material. Defined Benefit Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets The following summarizes key pension plan information regarding U.S. and non-U.S. plans whose accumulated benefit obligations exceed the fair value of their respective plan assets. December 31, 2018 2017 (Amounts in thousands) Benefit Obligation $ 613,441 $ 217,510 Accumulated benefit obligation 596,584 197,816 Fair value of plan assets 444,929 32,052 Postretirement Medical Plans We sponsor several defined benefit postretirement medical plans covering certain current retirees and a limited number of future retirees in the U.S. These plans provide for medical and dental benefits and are administered through insurance companies and health maintenance organizations. The plans include participant contributions, deductibles, co-insurance provisions and other limitations and are integrated with Medicare and other group plans. We fund the plans as benefits and health maintenance organization premiums are paid, such that the plans hold no assets in any period presented. Accordingly, we have no investment strategy or targeted allocations for plan assets. Benefits under our postretirement medical plans are not available to new employees or most existing employees. The following are assumptions related to postretirement benefits: Year Ended December 31, 2018 2017 2016 Weighted average assumptions used to determine Benefit Obligation: Discount rate 4.20 % 3.48 % 3.75 % Weighted average assumptions used to determine net expense: Discount rate 3.48 % 3.75 % 4.25 % The assumed ranges for the annual rates of increase in medical costs used to determine net expense were 7.0% for 2018 , 7.0% for 2017 and 7.5% for 2016 , with a gradual decrease to 5.0% for 2029 and future years. Net postretirement benefit cost for postretirement medical plans was: Year Ended December 31, 2018 2017 2016 (Amounts in thousands) Service cost $ — $ — $ 1 Interest cost 779 919 1,154 Amortization of unrecognized prior service cost 122 122 122 Amortization of unrecognized net gain (764 ) (275 ) (355 ) Net postretirement benefit expense $ 137 $ 766 $ 922 The estimated prior service cost expected to be amortized from accumulated other comprehensive loss into U.S. pension expense in 2019 is $0.1 million . The estimated net gain for postretirement medical plans that will be amortized from accumulated other comprehensive gain into U.S. expense in 2019 is $0.2 million . The following summarizes the accrued postretirement benefits liability for the postretirement medical plans: December 31, 2018 2017 (Amounts in thousands) Postretirement Benefit Obligation $ 18,810 $ 23,882 Funded status $ (18,810 ) $ (23,882 ) The following summarizes amounts recognized in the balance sheet for postretirement Benefit Obligation: December 31, 2018 2017 (Amounts in thousands) Current liabilities $ (2,500 ) $ (2,952 ) Noncurrent liabilities (16,310 ) (20,930 ) Funded status $ (18,810 ) $ (23,882 ) The following is a reconciliation of the postretirement Benefit Obligation: December 31, 2018 2017 (Amounts in thousands) Balance — January 1 $ 23,882 $ 27,317 Interest cost 779 919 Employee contributions 883 939 Medicare subsidies receivable 127 235 Actuarial gain (2,662 ) (1,818 ) Net benefits and expenses paid (4,199 ) (3,710 ) Balance — December 31 $ 18,810 $ 23,882 The following presents expected benefit payments for future periods (amounts in millions): Expected Payments Medicare Subsidy 2019 $ 2.6 $ 0.1 2020 2.4 0.1 2021 2.2 0.1 2022 2.0 0.1 2023 1.8 0.1 2024-2028 6.8 0.3 The following table shows the change in accumulated other comprehensive loss attributable to the components of the net cost and the change in Benefit Obligations for postretirement benefits, net of tax: 2018 2017 (Amounts in thousands) Balance — January 1 $ 880 $ (163 ) Amortization of net gain (584 ) (172 ) Amortization of prior service cost 93 76 Net gain arising during the year 2,036 1,139 Balance — December 31 $ 2,425 $ 880 Amounts recorded in accumulated other comprehensive loss consist of: December 31, 2018 2017 (Amounts in thousands) Unrecognized net gain $ 3,365 $ 1,921 Unrecognized prior service cost (940 ) (1,041 ) Accumulated other comprehensive income, net of tax $ 2,425 $ 880 We made contributions to the postretirement medical plans to pay benefits of $3.2 million in 2018 , $2.5 million in 2017 and $4.4 million in 2016 . Because the postretirement medical plans are unfunded, we make contributions as the covered individuals’ claims are approved for payment. Accordingly, contributions during any period are directly correlated to the benefits paid. Assumed health care cost trend rates have an effect on the amounts reported for the postretirement medical plans. A one-percentage point change in assumed health care cost trend rates would have the following effect on the 2018 reported amounts (in thousands): 1% Increase 1% Decrease Effect on postretirement Benefit Obligation $ 73 $ (72 ) Effect on service cost plus interest cost 4 (3 ) Defined Contribution Plans We sponsor several defined contribution plans covering substantially all U.S. and Canadian employees and certain other non-U.S. employees. Employees may contribute to these plans, and these contributions are matched in varying amounts by us, including opportunities for discretionary matching contributions by us. Defined contribution plan expense was $18.7 million in 2018 , $17.7 million in 2017 and $17.2 million in 2016 .

Legal Matters and Contingencies

Legal Matters and Contingencies	12 Months Ended
	Dec. 31, 2018
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, in whole or in part. 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. 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 we expect that future claims would also be subject to then existing indemnities and insurance coverage. 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, 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 have completed our response to the subpoena. 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.

Warranty Reserve

Warranty Reserve	12 Months Ended
	Dec. 31, 2018
Product Warranties Disclosures [Abstract]
Warranty Reserve	WARRANTY RESERVE We have recorded reserves for product warranty claims that are included in current liabilities. The following is a summary of the activity in the warranty reserve: 2018 2017 2016 (Amounts in thousands) Balance — January 1 $ 33,601 $ 30,459 $ 34,574 Accruals for warranty expense, net of adjustments 28,454 35,001 28,364 Settlements made (30,022 ) (31,859 ) (32,479 ) Balance — December 31 $ 32,033 $ 33,601 $ 30,459

Shareholders' Equity

Shareholders' Equity	12 Months Ended
	Dec. 31, 2018
Equity [Abstract]
Shareholders' Equity	SHAREHOLDERS’ EQUITY Dividends - 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 at its discretion dependent on its assessment of our financial situation and business outlook at the applicable time. Dividends per share were $0.76 for the years ending December 31, 2018 , 2017 and 2016 . On February 15, 2016 , our Board of Directors authorized an increase in the payment of quarterly dividends on our common stock from $0.18 per share to $0.19 per share payable beginning on April 8, 2016 . Share Repurchase Program – On November 13, 2014 , our Board of Directors approved a $500.0 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 any time without notice. We had no repurchases of shares of our outstanding common stock for the year ended December 31, 2018 , 2017 and 2016 . As of December 31, 2018 , we have $160.7 million of remaining capacity under our current share repurchase program.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES On December 22, 2017, the U.S. enacted the Tax Cuts and Jobs Act of 2017 (the “ Tax Reform Act ”), which significantly changed U.S. tax law. The Tax Reform Act , among other things, lowered the Company’s U.S. statutory federal income tax rate from 35% to 21% effective January 1, 2018, while imposing a deemed repatriation tax on deferred foreign income and implementing a modified territorial tax system. The Tax Reform Act also provides for a one-time transition tax (“Transition Tax”) on certain foreign earnings as well as prospective changes which began in 2018, including repeal of the domestic manufacturing deduction, capitalization of research and development expenditures, additional limitations on executive compensation and limitations on the deductibility of interest. The Company recognized provisional income tax effects of the Tax Reform Act in its previously issued financial statements in accordance with Staff Accounting Bulletin (SAB) No. 118, which provides SEC staff guidance for the application of ASC Topic 740, Income Taxes with respect to recording certain tax impacts of the Tax Reform Act . The Company finalized its accounting for the income tax effects of the Tax Reform Act in the fourth quarter of 2018 with no material adjustments to previously recorded provisional amounts. The impacts of these changes are reflected in the 2017 provisional tax expense of $115.3 million and the 2018 tax benefit of $5.7 million . The provision for income taxes consists of the following: Year Ended December 31, 2018 2017 2016 (Amounts in thousands) Current: U.S. federal $ 5,150 $ 59,292 $ 20,569 Non-U.S. 36,897 22,442 75,227 State and local 2,647 5,537 2,612 Total current 44,694 87,271 98,408 Deferred: U.S. federal 11,242 135,294 22,249 Non-U.S. (4,585 ) 34,626 (45,577 ) State and local (127 ) 1,488 2,300 Total deferred 6,530 171,408 (21,028 ) Total provision $ 51,224 $ 258,679 $ 77,380 The provision for income taxes differs from the statutory corporate rate due to the following: Year Ended December 31, 2018 2017 2016 (Amounts in millions) Statutory federal income tax at 21% (35% for 2017 and 2016) $ 37.0 $ 92.1 $ 74.5 Foreign impact, net (5.9 ) (36.4 ) (13.9 ) Impact of U.S. Tax Reform Act (5.7 ) 115.3 — Change in valuation allowances 15.7 73.6 14.2 State and local income taxes, net 3.7 4.9 4.9 Other, net 6.4 9.2 (2.3 ) Total $ 51.2 $ 258.7 $ 77.4 Effective tax rate 29.1 % 98.4 % 36.3 % The 2017 tax rate differed from the federal statutory rate of 35% primarily due to the impacts pursuant to enactment of the Tax Reform Act , the net impact of foreign operations, the establishment of a valuation allowance against our deferred tax assets in various foreign jurisdictions, primarily Germany and Mexico, and taxes related to the sale of the Gestra and Vogt businesses. For the years ended December 31, 2016 and prior, the company asserted permanent reinvestment on the majority of invested capital and unremitted foreign earnings in our foreign subsidiaries. For the year ended December 31, 2017 , we did not assert permanent reinvestment on any of our foreign subsidiaries and as a result recorded deferred taxes of approximately $75.4 million on cumulative unrepatriated earnings in connection with the Tax Reform Act. For the year ended December 31, 2018 , the Company has asserted permanent reinvestment on earnings of certain of our foreign subsidiaries. At the end of December 31, 2018 , the Company still has recorded $70.3 million of deferred tax liabilities associated with the earnings previously deemed available for repatriation as referenced above. These deferred tax liabilities primarily relate to foreign withholding taxes that would be due upon repatriation of the designated earnings to the U.S. Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the consolidated deferred tax assets and liabilities were: December 31, 2018 2017 (Amounts in thousands) Deferred tax assets related to: Retirement benefits $ 26,496 $ 28,519 Net operating loss carryforwards 92,630 73,465 Compensation accruals 25,993 24,030 Inventories 25,553 30,870 Credit carryforwards 16,056 8,910 Warranty and accrued liabilities 2,763 16,005 Bad debt reserve 28,194 30,698 Other 32,253 40,859 Total deferred tax assets 249,938 253,356 Valuation allowances (133,929 ) (119,309 ) Net deferred tax assets 116,009 134,047 Deferred tax liabilities related to: Property, plant and equipment (18,773 ) (24,204 ) Goodwill and intangibles (123,692 ) (123,036 ) Non-U.S. undistributed earnings taxes (70,331 ) (75,442 ) Other (17,935 ) (15,667 ) Total deferred tax liabilities (230,731 ) (238,349 ) Deferred tax liabilities, net $ (114,722 ) $ (104,302 ) We have $394.0 million of U.S. and foreign net operating loss carryforwards at December 31, 2018 . Of this total, $42.4 million are state net operating losses. Net operating losses generated in the U.S., if unused, will expire in 2024 through 2026 tax years. The majority of our non-U.S. net operating losses carry forward without expiration. Additionally, we have $16.1 million of foreign tax credit carryforwards at December 31, 2018 , expiring in 2026 and 2028 tax years, for which a valuation allowance of $16.1 million has been recorded. Earnings before income taxes comprised: Year Ended December 31, 2018 2017 2016 (Amounts in thousands) U.S. $ 88,674 $ 102,372 $ 170,681 Non-U.S. 87,600 160,635 42,231 Total $ 176,274 $ 263,007 $ 212,912 A tabular reconciliation of the total gross amount of unrecognized tax benefits, excluding interest and penalties, is as follows (in millions): 2018 2017 2016 Balance — January 1 $ 51.5 $ 59.3 $ 56.1 Gross amount of (decrease) increase in unrecognized tax benefits resulting from tax positions taken: During a prior year (6.6 ) (3.5 ) 1.9 During the current period 4.0 5.5 14.3 Decreases in unrecognized tax benefits relating to: Settlements with taxing authorities (2.7 ) (10.8 ) (4.0 ) Lapse of the applicable statute of limitations (3.7 ) (3.1 ) (7.3 ) Increase (decrease) in unrecognized tax benefits relating to foreign currency translation adjustments (1.3 ) 4.1 (1.7 ) Balance — December 31 $ 41.2 $ 51.5 $ 59.3 The amount of gross unrecognized tax benefits at December 31, 2018 was $54.1 million , which includes $12.9 million of accrued interest and penalties. Of this amount $53.6 million , if recognized, would favorably impact our effective tax rate. With limited exception, we are no longer subject to U.S. federal income tax audits for years through 2016, state and local income tax audits for years through 2012 or non-U.S. income tax audits for years through 2011. We are currently under examination for various years in Austria, Canada, France, Germany, India, Indonesia, Italy, Japan, Mexico, Philippines, Saudi Arabia, Singapore, Thailand, 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 up to approximately $16 million within the next 12 months.

Business Segment Information

Business Segment Information	12 Months Ended
	Dec. 31, 2018
Segment Reporting [Abstract]
Business Segment Information	BUSINESS SEGMENT INFORMATION Our business segments share a focus on industrial flow control technology and have a high number of common customers. These segments also have complementary product offerings and technologies that are often combined in applications that provide us a net competitive advantage. Our segments also benefit from our global footprint and our economies of scale in reducing administrative and overhead costs to serve customers more cost effectively. We conduct our operations through these three business segments based on type of product and how we manage the business: • EPD for long lead time, custom and other highly-engineered pumps and pump systems, mechanical seals, auxiliary systems and replacement parts and related services; • IPD for engineered and pre-configured industrial pumps and pump systems and related products and services; and • FCD for engineered and industrial valves, control valves, actuators and controls and related services. For decision-making purposes, our Chief Executive Officer ("CEO") and other members of senior executive management use financial information generated and reported at the reportable segment level. Our corporate headquarters does not constitute a separate division or business segment. We evaluate segment performance and allocate resources based on each reportable segment’s operating income. Amounts classified as "Eliminations and All Other" include corporate headquarters costs and other minor entities that do not constitute separate segments. Intersegment sales and transfers are recorded at cost plus a profit margin, with the sales and related margin on such sales eliminated in consolidation. The following is a summary of the financial information of our reportable segments as of and for the years ended December 31, 2018 , 2017 and 2016 reconciled to the amounts reported in the consolidated financial statements. Subtotal—Reportable Segments Eliminations and All Other Consolidated Total EPD IPD FCD (Amounts in thousands) Year Ended December 31, 2018: Sales to external customers $1,860,489 $ 759,999 $ 1,212,178 $ 3,832,666 $ — $ 3,832,666 Intersegment sales 38,724 39,416 3,637 81,777 (81,777 ) — Segment operating income (loss) 206,894 (6,238 ) 201,216 401,872 (154,334 ) 247,538 Depreciation and amortization 42,442 25,706 26,585 94,733 17,740 112,473 Identifiable assets 1,841,132 930,433 1,268,717 4,040,282 575,995 4,616,277 Capital expenditures 34,127 6,521 14,458 55,106 28,887 83,993 Subtotal—Reportable Segments Eliminations and All Other Consolidated Total EPD IPD FCD (Amounts in thousands) Year Ended December 31, 2017: Sales to external customers $1,738,082 $ 739,656 $ 1,183,093 $ 3,660,831 $ — $ 3,660,831 Intersegment sales 37,347 35,552 5,018 77,917 (77,917 ) — Segment operating income (loss) 159,060 (48,766 ) 323,682 433,976 (92,841 ) 341,135 Depreciation and amortization 48,659 28,864 27,278 104,801 13,653 118,454 Identifiable assets 1,956,638 1,028,255 1,317,944 4,302,837 607,637 4,910,474 Capital expenditures 19,790 8,368 16,626 44,784 16,818 61,602 Subtotal—Reportable Segments Eliminations and All Other Consolidated Total EPD IPD FCD (Amounts in thousands) Year Ended December 31, 2016: Sales to external customers $ 1,963,086 $ 799,923 $ 1,227,478 $ 3,990,487 $ — $ 3,990,487 Intersegment sales 32,873 35,156 6,234 74,263 (74,263 ) — Segment operating income 171,142 (5,184 ) 202,571 368,529 (91,845 ) 276,684 Depreciation and amortization 48,957 28,824 28,189 105,970 10,782 116,752 Identifiable assets 2,082,729 1,010,107 1,310,273 4,403,109 305,814 4,708,923 Capital expenditures 29,426 17,336 26,467 73,229 16,470 89,699 During the latter part of 2018 and in connection with the Flowserve 2.0 Transformation, we have determined that there are meaningful operational synergies and benefits to combining our EPD and IPD reportable segments into one reportable segment, Flowserve Pump Division ("FPD"). The reorganization is effective as of January 1, 2019 and as a result, beginning in 2019 we will report a two operating segment structure, FPD and FCD, and prior periods will be retrospectively adjusted to reflect the new reportable segment structure. For further discussion of Flowserve 2.0 Transformation program refer to Note 19. Geographic Information — We attribute sales to different geographic areas based on our facilities’ locations. Long-lived assets are classified based on the geographic area in which the assets are located and exclude deferred taxes, goodwill and intangible assets. Prior period information has been updated to conform to current year presentation. Sales and long-lived assets by geographic area are as follows: Year Ended December 31, 2018 Sales Percentage Long-Lived Assets Percentage (Amounts in thousands, except percentages) United States $ 1,525,930 39.8 % $ 323,883 40.5 % EMA(1) 1,424,498 37.2 % 280,549 35.1 % Asia(2) 539,898 14.1 % 132,667 16.6 % Other(3) 342,340 8.9 % 63,161 7.8 % Consolidated total $ 3,832,666 100.0 % $ 800,260 100.0 % Year Ended December 31, 2017 Sales Percentage Long-Lived Assets Percentage (Amounts in thousands, except percentages) United States $ 1,460,899 40.0 % $ 333,126 38.2 % EMA(1) 1,434,506 39.2 % 321,256 36.9 % Asia(2) 471,054 12.9 % 148,757 17.1 % Other(3) 294,372 7.9 % 68,379 7.8 % Consolidated total $ 3,660,831 100.0 % $ 871,518 100.0 % Year Ended December 31, 2016 Sales Percentage Long-Lived Assets Percentage (Amounts in thousands, except percentages) United States $ 1,537,779 38.5 % $ 338,038 37.2 % EMA(1) 1,541,984 38.6 % 288,903 31.8 % Asia(2) 500,424 12.5 % 144,599 15.9 % Other(3) 410,300 10.4 % 136,391 15.1 % Consolidated total $ 3,990,487 100.0 % $ 907,931 100.0 % ___________________________________ (1) "EMA" includes Europe, the Middle East and Africa. In 2018 , 2017 and 2016 , Germany accounted for approximately 7% , 10% and 10% , respectively, of consolidated long-lived assets. No other individual country within this group represents 10% or more of consolidated totals for any period presented. (2) "Asia" includes Asia and Australia. No individual country within this group represents 10% or more of consolidated totals for any period presented. (3) "Other" includes Canada and Latin America. No individual country within this group represents 10% or more of consolidated totals for any period presented. Net sales to international customers, including export sales from the U.S., represented approximately 63% of total sales in 2018 and 2017 , and 64% in 2016 . Major Customer Information — We have a large number of customers across a large number of manufacturing and service facilities and do not have sales to any individual customer that represent 10% or more of consolidated sales for any of the years presented.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	12 Months Ended
	Dec. 31, 2018
Accumulated Other Comprehensive Loss [Abstract]
Accumulated Other Comprehensive Loss	ACCUMULATED OTHER COMPREHENSIVE LOSS The following presents the components of accumulated other comprehensive loss (AOCL), net of related tax effects: 2018 2017 (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 $ (384,779 ) $ (115,755 ) $ (1,090 ) $ (501,624 ) $ (483,609 ) $ (136,530 ) $ (1,238 ) $ (621,377 ) Other comprehensive (loss) income before reclassifications (63,146 ) (12,022 ) 232 (74,936 ) 98,308 12,557 125 110,990 Amounts reclassified from AOCL — 7,130 — 7,130 522 8,218 23 8,763 Net current-period other comprehensive (loss) income (63,146 ) (4,892 ) 232 (67,806 ) 98,830 20,775 148 119,753 Balance - December 31 $ (447,925 ) $ (120,647 ) $ (858 ) $ (569,430 ) $ (384,779 ) $ (115,755 ) $ (1,090 ) $ (501,624 ) _______________________________________ (1) Includes foreign currency translation adjustments attributable to noncontrolling interests of $4.5 million , $3.8 million and $3.4 million for December 31, 2018 , 2017 and 2016 , respectively. For the year ended December 31, 2018 , foreign currency translation impacts primarily represented the weakening of the Euro, Argentinian peso, Indian rupee and British pound exchange rates versus the U.S. dollar for the period. For the year ended December 31, 2017 , foreign currency translation impacts primarily represented the weakening of the Euro, British pound and Indian rupee exchange rates versus the U.S. dollar for the period. Includes net investment hedge cumulative losses of $17.2 million and $22.5 million , net of deferred taxes, at December 31, 2018 and 2017 , respectively. Amounts in parentheses indicate debits. The following table presents the reclassifications out of AOCL: (Amounts in thousands) Affected line item in the statement of income 2018(1) 2017(1) Foreign currency translation items Release of cumulative translation adjustments due to sale of business Gain on sale of businesses $ — $ (522 ) Tax benefit — — Net of tax $ — $ (522 ) Pension and other postretirement effects Amortization of actuarial losses(2) Other expense, net $ (9,140 ) $ (9,761 ) Prior service costs(2) Other expense, net (197 ) (108 ) Settlements and other(2) Other expense, net 983 (2,113 ) Tax benefit 1,224 3,764 Net of tax $ (7,130 ) $ (8,218 ) ______________________________________ (1) Amounts in parentheses indicate decreases to income. None of the reclassification 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 12 for additional details.

Realignment and Transformation

Realignment and Transformation Programs	12 Months Ended
	Dec. 31, 2018
Restructuring and Related Activities [Abstract]
Realignment and Transformation Programs	REALIGNMENT AND TRANSFORMATION PROGRAMS In the second quarter of 2018, we launched and committed resources to our Flowserve 2.0 Transformation ("Flowserve 2.0 Transformation"), a program designed to transform our business model to drive operational excellence, reduce complexity, accelerate growth, expand margins, increase capital efficiency and improve organizational health . We anticipate that the Flowserve 2.0 Transformation will result in restructuring charges, non-restructuring charges and other related transformation expenses (primarily professional services, project management and related travel expenses). For the year ended December 31, 2018 , we incurred Flowserve 2.0 Transformation related expenses of $41.2 million , primarily consisting of professional services and project management costs recorded in SG&A. We are currently evaluating the total investment in the various initiatives associated with this program. In 2015 we initiated realignment programs consisting of R1 Realignment Program related to the SIHI acquisition and R2 Realignment Program to better align costs and improve long-term efficiency, including manufacturing optimization through the consolidation of facilities, reduction in our workforce and divestiture of certain non-strategic assets (the “Realignment Programs”). These Realignment Programs have been substantially completed. We estimate total investment in these programs of approximately $360 million . 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 consolidated statements of income. Generally, the aforementioned charges were paid in cash, except for asset write-downs, which are non-cash charges. The following is a summary of total charges, net of adjustments, related to the Realignment Programs and Flowserve 2.0 Transformation charges: December 31, 2018 (Amounts in thousands) Engineered Product Division Industrial Product Division Flow Control Division Subtotal–Reportable Segments Eliminations and All Other Consolidated Total Restructuring Charges COS $ 14,742 $ 3,663 $ 4,370 $ 22,775 $ — $ 22,775 SG&A 1,050 803 358 2,211 38 2,249 Income tax expense(1) (1,000 ) — — (1,000 ) — (1,000 ) $ 14,792 $ 4,466 $ 4,728 $ 23,986 $ 38 $ 24,024 Non-Restructuring Charges COS $ 19,308 $ 1,764 $ (1,149 ) $ 19,923 $ — $ 19,923 SG&A 3,139 918 (652 ) 3,405 5,580 8,985 $ 22,447 $ 2,682 $ (1,801 ) $ 23,328 $ 5,580 $ 28,908 Transformation Charges SG&A $ — $ — $ — $ — $ 41,168 $ 41,168 $ — $ — $ — $ — $ 41,168 $ 41,168 Total Realignment and Transformation Charges COS $ 34,050 $ 5,427 $ 3,221 $ 42,698 $ — $ 42,698 SG&A 4,189 1,721 (294 ) 5,616 46,786 52,402 Income tax benefit(1) (1,000 ) — — (1,000 ) — (1,000 ) Total $ 37,239 $ 7,148 $ 2,927 $ 47,314 $ 46,786 $ 94,100 December 31, 2017 (Amounts in thousands) Engineered Product Division Industrial Product Division Flow Control Division Subtotal–Reportable Segments Eliminations and All Other Consolidated Total Restructuring Charges COS $ 8,101 $ 7,177 $ 8,666 $ 23,944 $ — $ 23,944 SG&A 523 1,120 (455 ) 1,188 261 1,449 Income tax expense(1) 1,000 — — 1,000 — 1,000 $ 9,624 $ 8,297 $ 8,211 $ 26,132 $ 261 $ 26,393 Non-Restructuring Charges COS 10,263 6,806 $ 2,934 $ 20,003 $ — $ 20,003 SG&A 6,853 10,191 3,325 20,369 5,490 25,859 $ 17,116 $ 16,997 $ 6,259 $ 40,372 $ 5,490 $ 45,862 Total Realignment Charges COS $ 18,364 $ 13,983 $ 11,600 $ 43,947 $ — $ 43,947 SG&A 7,376 11,311 2,870 21,557 5,751 27,308 Income tax expense(1) 1,000 — — 1,000 — 1,000 Total $ 26,740 $ 25,294 $ 14,470 $ 66,504 $ 5,751 $ 72,255 ____________________________________ (1) Income tax (benefit) expense includes exit taxes as well as non-deductible costs. The following is a summary of total inception to date charges, net of adjustments, related to the Realignment Programs: Inception to Date (Amounts in thousands) Engineered Product Division Industrial Product Division Flow Control Division Subtotal–Reportable Segments Eliminations and All Other Consolidated Total Restructuring Charges COS $ 57,554 $ 51,488 $ 27,025 $ 136,067 $ — $ 136,067 SG&A 19,390 17,520 9,455 46,365 317 46,682 Income tax expense(1) 9,400 9,300 1,800 20,500 — 20,500 $ 86,344 $ 78,308 $ 38,280 $ 202,932 $ 317 $ 203,249 Non-Restructuring Charges COS $ 45,731 $ 22,753 $ 13,718 $ 82,202 $ 8 $ 82,210 SG&A 19,985 19,319 7,512 46,816 15,502 62,318 $ 65,716 $ 42,072 $ 21,230 $ 129,018 $ 15,510 $ 144,528 Total Realignment Charges COS $ 103,285 $ 74,241 $ 40,743 $ 218,269 $ 8 $ 218,277 SG&A 39,375 36,839 16,967 93,181 15,819 109,000 Income tax expense(1) 9,400 9,300 1,800 20,500 — 20,500 Total $ 152,060 $ 120,380 $ 59,510 $ 331,950 $ 15,827 $ 347,777 ____________________________________ (1) Income tax expense includes exit taxes as well as non-deductible costs. 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, divestiture of certain non-strategic assets and inventory write-downs. Other costs generally include 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 Realignment Programs: December 31, 2018 (Amounts in thousands) Severance Contract Termination Asset Write-Downs Other Total COS $ 2,975 $ 5 $ 9,018 $ 10,777 $ 22,775 SG&A 1,875 — 12 362 2,249 Income tax expense(1) — — — (1,000 ) (1,000 ) Total $ 4,850 $ 5 $ 9,030 $ 10,139 $ 24,024 December 31, 2017 (Amounts in thousands) Severance Contract Termination Asset Write-Downs Other Total COS $ 10,241 $ 293 $ 6,400 $ 7,010 $ 23,944 SG&A (897 ) — 249 2,097 1,449 Income tax expense(1) — — — 1,000 1,000 Total $ 9,344 $ 293 $ 6,649 $ 10,107 $ 26,393 _____________________________________ (1) Income tax (benefit) expense includes exit taxes as well as non-deductible costs. The following is a summary of total inception to date restructuring charges, net of adjustments, related to the Realignment Programs: Inception to Date (Amounts in thousands) Severance Contract Termination Asset Write-Downs Other Total (1) COS $ 85,160 $ 907 $ 24,335 $ 25,665 $ 136,067 SG&A 31,745 43 1,689 13,205 46,682 Income tax expense(1) — — — 20,500 20,500 Total $ 116,905 $ 950 $ 26,024 $ 59,370 $ 203,249 _______________________________ (1) Income tax expense includes exit taxes as well as non-deductible costs. The following represents the activity, primarily severance, related to the restructuring reserve for the Realignment Programs for the years ended December 31, 2018 and 2017 : (Amounts in thousands) 2018 2017 Balance at January 1, $ 39,230 $ 60,327 (2 ) Charges 15,996 18,743 Cash expenditures (28,267 ) (38,391 ) Other non-cash adjustments, including currency(1) (15,032 ) (1,449 ) Balance at December 31, $ 11,927 $ 39,230 _______________________________ (1) Includes a reduction of severance accruals associated with the divestiture of two IPD locations and associated product lines in 2018. Refer to Note 3 of this Annual Report for further discussion. (2) The reserve for the R1 Realignment Program was $12.6 million , which was substantially paid during the period.

Quarterly Financial Data (Unaud

Quarterly Financial Data (Unaudited)	12 Months Ended
	Dec. 31, 2018
Quarterly Financial Data [Abstract]
Quarterly Financial Data (Unaudited)	QUARTERLY FINANCIAL DATA (UNAUDITED) The following presents a summary of the unaudited quarterly data for 2018 and 2017 (amounts in millions, except per share data): 2018 Quarter 4th 3rd 2nd 1st Sales $ 986.9 $ 952.7 $ 973.1 $ 920.0 Gross profit 321.8 308.5 286.1 271.4 Earnings before income taxes 78.6 44.4 28.3 25.0 Net earnings attributable to Flowserve Corporation 63.1 28.2 13.2 15.1 Earnings per share(1): Basic $ 0.48 $ 0.22 $ 0.10 $ 0.12 Diluted 0.48 0.21 0.10 0.12 2017 Quarter 4th 3rd 2nd 1st Sales $ 1,034.1 $ 883.4 $ 877.1 $ 866.3 Gross profit 304.4 267.5 245.0 268.4 Earnings before income taxes 67.0 68.4 103.0 24.6 Net (loss) earnings attributable to Flowserve Corporation (105.9 ) 47.6 41.9 19.1 (Loss) earnings per share(1): Basic $ (0.81 ) $ 0.36 $ 0.32 $ 0.15 Diluted (0.81 ) 0.36 0.32 0.15 _______________________________________ (1) Earnings per share is computed independently for each of the quarters presented. The sum of the quarters may not equal the total year amount due to the impact of changes in weighted average quarterly shares outstanding.

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2017
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
Schedule II - Valuation and Qualifying Accounts	FLOWSERVE CORPORATION Schedule II — Valuation and Qualifying Accounts For the Years Ended December 31, 2018 , 2017 and 2016 Description Balance at Beginning of Year Additions Charged to Cost and Expenses Additions Charged to Other Accounts— Acquisitions and Related Adjustments Deductions From Reserve Balance at End of Year (Amounts in thousands) Year Ended December 31, 2018 Allowance for doubtful accounts(a): $ 59,113 8,050 — (15,662 ) $ 51,501 Deferred tax asset valuation allowance(b): 119,309 32,157 (7,551 ) (9,986 ) 133,929 Year Ended December 31, 2017 Allowance for doubtful accounts(a): 51,920 14,508 — (7,315 ) 59,113 Deferred tax asset valuation allowance(b): 36,191 86,694 2,595 (6,171 ) 119,309 Year Ended December 31, 2016 Allowance for doubtful accounts(a): 43,935 12,045 — (4,060 ) 51,920 Deferred tax asset valuation allowance(b): 24,725 12,883 (67 ) (1,350 ) 36,191 _______________________________________ (a) Deductions from reserve represent accounts written off and recoveries. (b) Deductions from reserve result from the expiration or utilization of net operating losses and foreign tax credits previously reserved.

Significant Accounting Polici_2

Significant Accounting Policies and Accounting Developments (Policies)	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation — The consolidated financial statements include the accounts of our company and our wholly and majority-owned subsidiaries. In addition, we would consolidate any variable interest entities for which we are deemed to be the primary beneficiary. Noncontrolling interests of non-affiliated parties have been recognized for all majority-owned consolidated subsidiaries. Intercompany profits/losses, transactions and balances among consolidated entities have been eliminated from our consolidated financial statements. Investments in unconsolidated affiliated companies, which represent noncontrolling ownership interests between 20% and 50% , are accounted for using the equity method, which approximates our equity interest in their underlying equivalent net book value under accounting principles generally accepted in the U.S. ("U.S. GAAP"). Investments in interests where we own less than 20% of the investee are accounted for by the cost method, whereby income is only recognized in the event of dividend receipt. Investments accounted for by the cost method are tested for impairment if an impairment indicator is present.
Use of Estimates	Use of Estimates — The process of preparing financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect reported amounts of certain assets, liabilities, revenues and expenses. We believe our estimates and assumptions are reasonable; however, actual results may differ materially from such estimates. The most significant estimates and assumptions are used in determining: • Timing and amount of revenue recognition; • Deferred taxes, tax valuation allowances and tax reserves; • Reserves for contingent loss; • Pension and postretirement benefits; and • Valuation of goodwill, indefinite-lived intangible assets and other long-lived assets.
Revenue Recognition	Revenue Recognition — Our contracts with customers often have multiple commitments to provide goods and/or services, including any combination of designing, developing, manufacturing, modifying, installing and commissioning of flow management equipment and providing services and parts related to the performance of such products. We recognize revenue when (or as) we satisfy a performance obligation by transferring control to a customer. We recognize revenue either over time or at a point in time, depending on the specific facts and circumstances for each contract, including the terms and conditions of the contract as agreed with the customer and the nature of the products or services to be provided. Our primary method for recognizing revenue over time is the percentage of completion (“POC”) method, whereby progress towards completion is measured by applying an input measure based on costs incurred to date relative to total estimated costs at completion. If control of the products and/or services does not transfer over time, then control transfers at a point in time. We determine the point in time that control transfers to a customer based on the evaluation of specific indicators, such as title transfer, risk of loss transfer, customer acceptance and physical possession. For a detailed discussion related to revenue recognition refer to Note 2.
Cash and Cash Equivalents	Cash and Cash Equivalents — We place temporary cash investments with financial institutions and, by policy, invest in those institutions and instruments that have minimal credit risk and market risk. These investments, with an original maturity of three months or less when purchased, are classified as cash equivalents. They are highly liquid and principal values are not subject to significant risk of change due to interest rate fluctuations.
Allowance for Doubtful Accounts and Credit Risk	Allowance for Doubtful Accounts and Credit Risk — The allowance for doubtful accounts is established based on estimates of the amount of uncollectible accounts receivable, which is determined principally based upon the aging of the accounts receivable, but also customer credit history, industry and market segment information, economic trends and conditions and credit reports. Customer credit issues, customer bankruptcies or general economic conditions may also impact our estimates. Credit risks are mitigated by the diversity of our customer base across many different geographic regions and industries and by performing creditworthiness analyses on our customers. Additionally, we mitigate credit risk through letters of credit and advance payments received from our customers. We do not believe that we have any other significant concentrations of credit risk.
Inventories and Related Reserves	Inventories and Related Reserves — Inventories are stated at the lower of cost and net realizable value. Cost is determined by the first-in, first-out method. Reserves for excess and obsolete inventories are based upon our assessment of market conditions for our products determined by historical usage and estimated future demand. Due to the long life cycles of our products, we carry spare parts inventories that have historically low usage rates and provide reserves for such inventory based on demonstrated usage and aging criteria.
Income Taxes, Deferred Taxes, Tax Valuation Allowances and Tax Reserves	Income Taxes, Deferred Taxes, Tax Valuation Allowances and Tax Reserves — We account for income taxes under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are calculated using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the period that includes the enactment date. We record valuation allowances to reflect the estimated amount of deferred tax assets that may not be realized based upon our analysis of existing deferred tax assets, net operating losses and tax credits by jurisdiction and expectations of our ability to utilize these tax attributes through a review of past, current and estimated future taxable income and establishment of tax strategies. We provide deferred taxes for the temporary differences associated with our investment in foreign subsidiaries that have a financial reporting basis that exceeds tax basis, unless we can assert permanent reinvestment in foreign jurisdictions. Financial reporting basis and tax basis differences in investments in foreign subsidiaries consist of both unremitted earnings and losses, as well as foreign currency translation adjustments. The amount of income taxes we pay is subject to ongoing audits by federal, state, and foreign tax authorities, which often result in proposed assessments. We establish reserves for open tax years for uncertain tax positions that may be subject to challenge by various tax authorities. The consolidated tax provision and related accruals include the impact of such reasonably estimable losses and related interest and penalties as deemed appropriate. We recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities. The determination is based on the technical merits of the position and presumes that each uncertain tax position will be examined by the relevant taxing authority that has full knowledge of all relevant information. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement.
Legal and Environmental Contingencies	Legal and Environmental Contingencies — Legal and environmental reserves are recorded based upon a case-by-case analysis of the relevant facts and circumstances and an assessment of potential legal obligations and costs. Amounts relating to legal and environmental liabilities are recorded when it is probable that a loss has been incurred and such loss is reasonably estimable. Assessments of legal and environmental costs are based on information obtained from our independent and in-house experts and our loss experience in similar situations. Estimates are updated as applicable when new information regarding the facts and circumstances of each matter becomes available. Legal fees associated with legal and environmental liabilities are expensed as incurred. Estimates of liabilities for unsettled asbestos-related claims are based on known claims and on our experience during the preceding two years for claims filed, settled and dismissed, with adjustments for events deemed unusual and unlikely to recur, and are included in retirement obligations and other liabilities in our consolidated balance sheets. A substantial majority of our asbestos-related claims are covered by insurance or indemnities. Estimated indemnities and receivables from insurance carriers for unsettled claims and receivables for settlements and legal fees paid by us for asbestos-related claims are estimated using our historical experience with insurance recovery rates and estimates of future recoveries, which include estimates of coverage and financial viability of our insurance carriers. Estimated receivables are included in other assets, net in our consolidated balance sheets. We have claims pending against certain insurers that, if resolved more favorably than estimated future recoveries, 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 existing indemnities and insurance coverage.
Warranty Accruals	Warranty Accruals — Warranty obligations are based upon product failure rates, materials usage, service delivery costs, an analysis of all identified or expected claims and an estimate of the cost to resolve such claims. The estimates of expected claims are generally a factor of historical claims and known product issues. Warranty obligations based on these factors are adjusted based on historical sales trends for the preceding 24 months .
Insurance Accruals	Insurance Accruals — Insurance accruals are recorded for wholly or partially self-insured risks such as medical benefits and workers’ compensation and are based upon an analysis of our claim loss history, insurance deductibles, policy limits and other relevant factors that are updated annually and are included in accrued liabilities in our consolidated balance sheets. The estimates are based upon information received from actuaries, insurance company adjusters, independent claims administrators or other independent sources. Receivables from insurance carriers are estimated using our historical experience with insurance recovery rates and estimates of future recoveries, which include estimates of coverage and financial viability of our insurance carriers. Estimated receivables are included in accounts receivable, net and other assets, net, as applicable, in our consolidated balance sheets.
Pension and Postretirement Obligations	Pension and Postretirement Obligations — Determination of pension and postretirement benefits obligations is based on estimates made by management in consultation with independent actuaries and investment advisors. Inherent in these valuations are assumptions including discount rates, expected rates of return on plan assets, retirement rates, mortality rates and rates of compensation increase and other factors all of which are reviewed annually and updated if necessary. Current market conditions, including changes in rates of return, interest rates and medical inflation rates, are considered in selecting these assumptions. Actuarial gains and losses and prior service costs are recognized in accumulated other comprehensive loss as they arise and we amortize these costs into net pension expense over the remaining expected service period.
Property, Plant and Equipment and Depreciation	Property, Plant and Equipment and Depreciation — Property, plant and equipment are stated at historical cost, less accumulated depreciation. If asset retirement obligations exist, they are capitalized as part of the carrying amount of the asset and depreciated over the remaining useful life of the asset. The useful lives of leasehold improvements are the lesser of the remaining lease term or the useful life of the improvement. When assets are retired or otherwise disposed of, their costs and related accumulated depreciation are removed from the accounts and any resulting gains or losses are included in income from operations for the period. Depreciation is computed by the straight-line method based on the estimated useful lives of the depreciable assets, or in the case of assets under capital leases, over the related lease turn. Generally, the estimated useful lives of the assets are: Buildings and improvements 10 to 40 years Machinery, equipment and tooling 3 to 14 years Software, furniture and fixtures and other 3 to 7 years Costs related to routine repairs and maintenance are expensed as incurred.
Internally Developed Software	Internally Developed Software — We capitalize certain costs associated with the development of internal-use software. Generally, these costs are related to significant software development projects and are amortized over their estimated useful life, typically three to five years, upon implementation of the software.
Intangible Assets	Intangible Assets — Intangible assets, excluding trademarks (which are considered to have an indefinite life), consist primarily of engineering drawings, patents, existing customer relationships, software, distribution networks and other items that are being amortized over their estimated useful lives generally ranging from four to 40 years . These assets are reviewed for impairment whenever events and circumstances indicate impairment may have occurred.
Valuation of Goodwill, Indefinite-Lived Intangible Assets and Other Long-Lived Assets	Valuation of Goodwill, Indefinite-Lived Intangible Assets and Other Long-Lived Assets — The value of goodwill and indefinite-lived intangible assets is tested for impairment as of December 31 each year or whenever events or circumstances indicate such assets may be impaired. The identification of our reporting units began at the operating segment level and considered whether components one level below the operating segment levels should be identified as reporting units for purpose of testing goodwill for impairment based on certain conditions. These conditions included, among other factors, (i) the extent to which a component represents a business and (ii) the aggregation of economically similar components within the operating segments and resulted in four reporting units. Other factors that were considered in determining whether the aggregation of components was appropriate included the similarity of the nature of the products and services, the nature of the production processes, the methods of distribution and the types of industries served. An impairment loss for goodwill is recognized if the implied fair value of goodwill is less than the carrying value. We estimate the fair value of our reporting units based on an income approach, whereby we calculate the fair value of a reporting unit based on the present value of estimated future cash flows. A discounted cash flow analysis requires us to make various judgmental assumptions about future sales, operating margins, growth rates and discount rates, which are based on our budgets, business plans, economic projections, anticipated future cash flows and market participants. Assumptions are also made for varying perpetual growth rates for periods beyond the long-term business plan period. We did not record an impairment of goodwill in 2018, 2017 or 2016; however, the estimated fair value of our EPO and IPD reporting units reduced significantly in 2016 and 2015 due to broad-based capital spending declines and heightened pricing pressure experienced in the oil and gas markets which are anticipated to continue in the near to mid-term. The EPO reporting unit is a component of our EPD reporting segment and is primarily focused on long lead time, custom and other highly-engineered pump products and systems. As of December 31, 2018, our EPO reporting unit had approximately $158 million of goodwill and its estimated fair value exceeded its carrying value by approximately 60% as compared to approximately $159 million of goodwill and its estimated fair value exceeded its carrying value by approximately 82% as of December 31, 2017. In addition, our IPD reporting unit had approximately $311 million of goodwill and its fair value exceeded its carrying value by approximately 40% as of December 31, 2018 as compared to approximately $319 million of goodwill and its fair value exceeded its carrying value by approximately 66% as of December 31, 2017. Key assumptions used in determining the estimated fair value of our EPO and IPD reporting units included the annual operating plan and forecasted operating results, successful execution of our current Flowserve Transformation 2.0 program and identified strategic initiatives, a constant cost of capital, continued stabilization and mid to long-term improvement of the macro-economic conditions of the oil and gas market, and a relatively stable global gross domestic product. Although we have concluded that there is no impairment on the goodwill associated with our EPO and IPD reporting units as of December 31, 2018, we will continue to closely monitor their performance and related market conditions for future indicators of potential impairment and reassess accordingly. We considered our market capitalization in our evaluation of the fair value of our goodwill. Our market capitalization decreased slightly as compared with 2017 and did not indicate a potential impairment of our goodwill as of December 31, 2018. Impairment losses for indefinite-lived intangible assets are recognized whenever the estimated fair value is less than the carrying value. Fair values are calculated for trademarks using a "relief from royalty" method, which estimates the fair value of a trademark by determining the present value of estimated royalty payments that are avoided as a result of owning the trademark. This method includes judgmental assumptions about sales growth and discount rates that have a significant impact on the fair value and are substantially consistent with the assumptions used to determine the fair value of our reporting units discussed above. We did not record a material impairment of our trademarks in 2018 , 2017 or 2016 . The recoverable value of other long-lived assets, including property, plant and equipment and finite-lived intangible assets, is reviewed when indicators of potential impairments are present. The recoverable value is based upon an assessment of the estimated future cash flows related to those assets, utilizing assumptions similar to those for goodwill. Additional considerations related to our long-lived assets include expected maintenance and improvements, changes in expected uses and ongoing operating performance and utilization.
Deferred Loan Costs	Deferred Loan Costs — Deferred loan costs, consisting of fees and other expenses associated with debt financing, are amortized over the term of the associated debt using the effective interest method. Additional amortization is recorded in periods where optional prepayments on debt are made.
Fair Values of Financial Instruments	Fair Values of Financial Instruments — Our financial instruments are presented at fair value in our consolidated balance sheets, with the exception of our long-term debt. 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 consolidated balance sheets are categorized based upon the level of judgment associated with the inputs used to measure their fair values. Hierarchical levels, as defined by Accounting Standards Codification ("ASC") 820, "Fair Value Measurements and Disclosures," are directly related to the amount of subjectivity associated with the inputs to fair valuation of these assets and liabilities. An asset or a liability’s categorization within the fair value hierarchy is based on the lowest level of significant input to its valuation. Hierarchical levels are as follows: Level I — Inputs are unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date. Level II — Inputs (other than quoted prices included in Level I) are either directly or indirectly observable for the asset or liability through correlation with market data at the measurement date and for the duration of the instrument’s anticipated life. Level III — Inputs reflect management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date. Consideration is given to the risk inherent in the valuation technique and the risk inherent in the inputs to the model. Recurring fair value measurements are limited to investments in derivative instruments and certain equity securities. 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 derivative instruments are included in Note 7. The fair value measurements of our investments in equity securities are determined using quoted market prices and are classified as Level I. The fair values of our investments in equity securities, and changes thereto, are immaterial to our consolidated financial position and results of operations.
Derivatives and Hedging Activities	Derivatives and Hedging Activities — We have a foreign currency derivatives and hedging policy outlining the conditions under which we can enter into financial derivative transactions. We do not use derivative instruments for trading or speculative purposes. All derivative instruments are recognized on the balance sheet at their fair values. We employ a foreign currency economic hedging strategy to mitigate certain financial risks resulting from foreign currency exchange rate movements that impact foreign currency denominated receivables and payables, firm committed transactions and forecasted sales and purchases. The changes in the fair values are recognized immediately in other expense, net in the consolidated statements of income. See Note 7 for further discussion of forward exchange contracts. 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 forward exchange contracts and expect all counterparties to meet their obligations. If necessary, we would adjust the values of our derivative contracts for our or our counterparties’ credit risks.
Foreign Currency Translation	Foreign Currency Translation — Assets and liabilities of our foreign subsidiaries are translated to U.S. dollars at exchange rates prevailing at the balance sheet date, while income and expenses are translated at average rates for each month. Translation gains and losses are reported as a component of accumulated other comprehensive loss. Transactional currency gains and losses arising from transactions in currencies other than our sites’ functional currencies are included in our consolidated results of operations. Transaction and translation gains and losses arising from intercompany balances are reported as a component of accumulated other comprehensive loss when the underlying transaction stems from a long-term equity investment or from debt designated as not due in the foreseeable future. Otherwise, we recognize transaction gains and losses arising from intercompany transactions as a component of income. Where intercompany balances are not long-term investment related or not designated as due beyond the foreseeable future, we may mitigate risk associated with foreign currency fluctuations by entering into forward exchange contracts.
Stock-Based Compensation	Stock-Based Compensation — Stock-based compensation is measured at the grant-date fair value. The exercise price of stock option awards and the value of restricted share, restricted share unit and performance-based unit awards (collectively referred to as "Restricted Shares") are set at the closing price of our common stock on the New York Stock Exchange on the date of grant, which is the date such grants are authorized by our Board of Directors. Restricted share units and performance-based units refer to restricted awards that do not have voting rights and accrue dividends, which are forfeited if vesting does not occur. The intrinsic value of Restricted Shares, which is typically the product of share price at the date of grant and the number of Restricted Shares granted, is amortized on a straight-line basis to compensation expense over the periods in which the restrictions lapse based on the expected number of shares that will vest. We account for forfeitures as they occur resulting in the reversal of cumulative expense previously recognized.
Earnings Per Share	Earnings Per Share — We use the two-class method of calculating Earnings Per Share ("EPS"), which determines earnings per share for each class of common stock and participating security as if all earnings for the period had been distributed. Unvested restricted share awards that earn non-forfeitable dividend rights qualify as participating securities and, accordingly, are included in the basic computation as such. Our unvested restricted shares participate on an equal basis with common shares; therefore, there is no difference in undistributed earnings allocated to each participating security. Accordingly, the presentation below is prepared on a combined basis and is presented as earnings per common share. The following is a reconciliation of net earnings of Flowserve Corporation and weighted average shares for calculating basic net earnings per common share. Earnings per weighted average common share outstanding was calculated as follows: Year Ended December 31, 2018 2017 2016 (Amounts in thousands, except per share data) Net earnings of Flowserve Corporation $ 119,671 $ 2,652 $ 132,455 Dividends on restricted shares not expected to vest — — 6 Earnings attributable to common and participating shareholders $ 119,671 $ 2,652 $ 132,461 Weighted average shares: Common stock 130,794 130,600 130,147 Participating securities 29 103 285 Denominator for basic earnings per common share 130,823 130,703 130,432 Effect of potentially dilutive securities 448 655 543 Denominator for diluted earnings per common share 131,271 131,358 130,975 Net earnings per share attributable to Flowserve Corporation common shareholders: Basic $ 0.91 $ 0.02 $ 1.02 Diluted 0.91 0.02 1.01 Diluted earnings per share 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, restricted share units and performance share units.
Research and Development Expense	Research and Development Expense — Research and development costs are charged to expense when incurred. Aggregate research and development costs included in SG&A were $39.6 million , $38.6 million and $42.8 million in 2018 , 2017 and 2016 , respectively. Costs incurred for research and development primarily include salaries and benefits and consumable supplies, as well as rent, professional fees, utilities and the depreciation of property and equipment used in research and development activities.
Accounting Developments	Accounting Developments Pronouncements Implemented In May 2014, the FASB issued Accounting Standards Update ("ASU") No. 2014-09, "Revenue from Contracts with Customers (Topic 606)" (the "New Revenue Standard" or "ASC 606"), which supersedes most of the revenue recognition requirements in "Revenue Recognition (Topic 605)" ("Topic 605"). On January 1, 2018, we adopted the New Revenue Standard using the modified retrospective method for transition, applying the guidance to those contracts which were not completed as of that date. According to our method of transition we adjusted for the cumulative effect of the changes made to our consolidated balance sheet and recorded a cumulative effect adjustment to increase retained earnings by approximately $20 million , mostly associated with the increase in POC method revenue, as a result of initially applying the standard. We have modified our accounting policies and practices, business processes, systems and controls to support compliance with the New Revenue Standard. Revenue recognition and related financial information for this Annual Report are based on the requirements of ASC 606. Accordingly, periods prior to January 1, 2018 are presented in accordance with Topic 605. Refer to Note 2 for a discussion on our adoption of the New Revenue Standard. In January 2016, the FASB issued ASU No. 2016-01, "Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities." The ASU requires entities to measure equity investments that do not result in consolidation and are not accounted for under the equity method at fair value with changes in fair value recognized in net income. The ASU also requires an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. The requirement to disclose the method(s) and significant assumptions used to estimate the fair value for financial instruments measured at amortized cost on the balance sheet has been eliminated by this ASU. In February 2018, the FASB issued ASU No. 2018-03, "Technical Corrections and Improvements to Financial Instruments-Overall (Subtopic 825-10)" to clarify certain aspects of ASU No. 2016-01. Our adoption of ASU No. 2016-01 and ASU No. 2018-03 effective January 1, 2018 did not have an impact on our consolidated financial condition and results of operations. In August 2016, the FASB issued ASU No. 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments - A consensus of the FASB Emerging Issues Task Force.” The update was issued with the objective of reducing the existing diversity in practice in how certain cash receipts and cash payments are presented and classified in the statement of cash flows under Topic 230 and other topics. Our adoption of ASU No. 2016-15 effective January 1, 2018 did not have a material impact on our consolidated statement of cash flows. In October 2016, the FASB issued ASU No. 2016-16, "Income Taxes (Topic 740) Intra-Entity Transfers of Assets Other Than Inventory." The ASU guidance requires the recognition of the income tax consequences of an intercompany asset transfer, other than transfers of inventory, when the transfer occurs. For intercompany transfers of inventory, the income tax effects will continue to be deferred until the inventory has been sold to a third party. Our adoption of ASU No. 2016-16 effective January 1, 2018 did not have a material impact on our consolidated financial condition and results of operations. In March 2017, the FASB issued ASU No. 2017-07, "Compensation-Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost." The ASU requires entities to disaggregate the current service cost component from the other components of net benefit cost and present it with other current compensation costs for related employees in the income statement and present the other components of net benefit cost elsewhere in the income statement and outside of operating income. Entities are required to retrospectively apply the requirement for a separate presentation in the income statement of service costs and other components of net benefit cost. We adopted the income statement presentation aspects of this new guidance on a retrospective basis. The following is a reconciliation of the effect of the reclassification of the net post-retirement benefit cost from cost of sales ("COS") and selling, general and administrative expenses ("SG&A") to other expense, net in our consolidated statement of income for the years ended December 31, 2017 and 2016 : December 31, 2017 (Amounts in thousands) As Previously Reported Adjustments(1) As Reported Cost of sales $ (2,575,454 ) $ 3,576 $ (2,571,878 ) Gross profit 1,085,377 3,576 1,088,953 Selling, general and administrative expense (903,864 ) 2,137 (901,727 ) Operating income 335,422 5,713 341,135 Other expense, net (16,114 ) (5,713 ) (21,827 ) December 31, 2016 Cost of sales $ (2,759,254 ) $ 5,565 $ (2,753,689 ) Gross profit 1,231,233 5,565 1,236,798 Selling, general and administrative expense (968,530 ) 3,154 (965,376 ) Operating income 267,965 8,719 276,684 Other expense, net 2,280 (8,719 ) (6,439 ) _______________________________________ (1) We elected the practical expedient that allows us to use the amounts disclosed in prior comparative periods’ pension and postretirement plan footnotes as the basis for the retrospective application of the new income statement presentation requirements. Refer to Note 12 for additional information on the components of the net periodic cost for retirement and postretirement benefits plans. In May 2017, the FASB issued ASU No. 2017-09, "Compensation-Stock Compensation (Topic 718): Scope of Modification Accounting." The ASU provides guidance on the types of changes to the terms or conditions of share-based payment awards, to which an entity would be required to apply modification accounting. The ASU is applied prospectively to awards modified on or after the effective date. Our adoption of ASU No. 2017-09 effective January 1, 2018 did not have an impact on our consolidated financial condition and results of operations. Pronouncements Not Yet Implemented In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842)”. The ASU requires that organizations that lease assets recognize assets and liabilities on the balance sheet for the rights and obligations created by those leases. The ASU will affect the presentation of lease-related expenses on the income statement and statement of cash flows and will increase the required disclosures related to leases. This ASU is effective for annual periods beginning after December 15, 2018, including interim periods within those fiscal years with early adoption permitted. During our evaluation of ASU No. 2016-02 and all related ASU's, we formed a project team to assess the critical components and requirements of the new guidance, which included a review of our leasing contracts and a completeness assessment over our lease population. To support the requirements of the new standard, we have implemented a lease administration system and modified changes to our business processes, systems and controls. Effective January 1, 2019, we adopted the new standard under the modified retrospective approach, applying the current-period adjustment method. Under the transition guidance of the modified retrospective approach there are a number of optional practical expedients that we have elected to apply, of which among other things include, the carryforward of the historical lease classification under the previous standard, the hindsight practical expedient which will result in the shortening of lease terms for certain existing leases and corresponding leasehold improvements and a policy election to keep leases with an initial term of 12 months or less off of the balance sheet. While we are still in the process of final evaluation, we expect the adoption of the standard will result in recognition of additional net lease assets and lease liabilities of approximately $220 million as of January 1, 2019. We do not currently believe that the standard will have a material impact on our results of operations. Additionally, we believe the new standard will not have a notable impact on our liquidity and will have no impact on our debt-covenant compliance under our current agreements. In June 2016, the FASB issued ASU No. 2016-13, "Financial Instruments-Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments." The ASU requires, among other things, the use of a new current expected credit loss ("CECL") model in order to determine our allowances for doubtful accounts with respect to accounts receivable and contract assets. The CECL model requires that we estimate our lifetime expected credit loss with respect to our receivables and contract assets and record allowances that, when deducted from the balance of the receivables, represent the net amounts expected to be collected. We will also be required to disclose information about how we developed the allowances, including changes in the factors that influenced our estimate of expected credit losses and the reasons for those changes. The amendments of the ASU are effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. We are currently evaluating the impact of ASU No. 2016-13 on our consolidated financial condition and results of operations. In January 2017, the FASB issued ASU No. 2017-04, "Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment." The amendments in this ASU allow companies to apply a one-step quantitative test and record the amount of goodwill impairment as the excess of a reporting unit’s carrying amount over its fair value, not to exceed the total amount of goodwill allocated to the reporting unit. The amendments of the ASU are effective for annual or interim goodwill impairment tests in fiscal years beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. We are currently evaluating the impact of ASU No. 2017-04 on our consolidated financial condition and results of operations. On July 13, 2017, the FASB issued ASU No. 2017-11, “Earnings Per Share (Topic 260); Distinguishing Liabilities from Equity (Topic 480); Derivatives and Hedging (Topic 815): (Part I) Accounting for Certain Financial Instruments with Down Round Features, (Part II) Replacement of the Indefinite Deferral for Mandatory Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatory Redeemable Noncontrolling Interests with a Scope Exception.” The ASU amends guidance in FASB Accounting Standards Codification ("ASC") 260, Earnings Per Share, FASB ASC 480, Distinguishing Liabilities from Equity, and FASB ASC 815, Derivatives and Hedging. The amendments in Part I of this ASU change the classification analysis of certain equity-linked financial instruments (or embedded features) with down round features. The amendments in Part II of the ASU re-characterize the indefinite deferral of certain provisions of Topic 480 that now are presented as pending content in the codification, to a scope exception. The amendments in this ASU must be applied to annual reporting periods beginning after December 15, 2018. Early adoption is permitted. The adoption of ASU No. 2017-11 will not have an impact on our consolidated financial condition and results of operations. On August 28, 2017, the FASB issued ASU No. 2017-12 and all related ASU's , "Derivatives and Hedging (Topic 815): Targeted improvements of Accounting for Hedging Activities." The purpose of this ASU is to better align a company’s risk management activities and financial reporting for hedging relationships. Additionally, the ASU simplifies the hedge accounting requirements and improve the disclosures of hedging arrangements. The amendments in this ASU must be applied to annual reporting periods beginning after December 15, 2019. Early adoption is permitted. We are currently evaluating the impact of ASU No. 2017-12 on our consolidated financial condition and results of operations. In February 2018, the FASB issued ASU No. 2018-02, "Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Comprehensive Income (“AOCI”)." The ASU and its amendments were issued as a result of the enactment of the U.S. Tax Cuts and Jobs Act of 2017. The amendments of this ASU address the available options to reclassify stranded tax effects within AOCI to retained earnings in each period in which the effect of the change (or portion thereof) is recorded. Additionally, the ASU outlines the disclosure requirements for releasing income tax effects from AOCI. The ASU is effective for fiscal years beginning after December 15, 2018 and interim periods within those fiscal years. Early adoption is permitted. The ASU should be applied either in the period of adoption or retrospectively to each period (or periods) in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Cuts and Jobs Act is recognized. We are currently evaluating the impact of ASU No. 2018-02 on our consolidated financial condition and results of operations. In July 2018, the FASB issued ASU No. 2018-07, "Compensation - Stock Compensation (Topic 718) - Improvements to Non-employee Share-based Payment Accounting." The amendments of this ASU apply to all share-based payment transactions to non-employees, in which a grantor acquires goods or services to be used or consumed in a grantor’s own operations, accounted under ASC 505-50, Equity-Based Payments to Non-Employees. Under the amendments of ASU 2018-07, most of the guidance on compensation to nonemployees would be aligned with the requirements for shared based payments granted to employees, Topic 718. The ASU is effective for fiscal years beginning after December 15, 2018 and interim periods within those fiscal years. Early adoption is permitted. The adoption of ASU No. 2018-07 will not have an impact on our consolidated financial condition and results of operations. In August 2018, the FASB issued ASU No. 2018-13, "Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement." The amendments of the ASU modify the disclosure requirements for fair value measurements by removing, modifying, or adding certain disclosure information requirements for assets and liabilities measured at fair value in the statement of financial position or disclosed in the notes to financial statements. The ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019, with early adoption permitted for the removed disclosures and delayed adoption until fiscal year 2020 permitted for the new disclosures. The removed and modified disclosures will be adopted on a retrospective basis and the new disclosures will be adopted on a prospective basis. We are currently evaluating the impact of ASU No. 2018-13 on our consolidated financial condition and results of operations. In August 2018, the FASB issued ASU No. 2018-14, "Compensation-Retirement Benefits-Defined Benefit Plans-General (Subtopic 715-20): Disclosure Framework-Changes to the Disclosure Requirements for Defined Benefit Plans." The ASU amends the disclosure requirements by adding, clarifying, or removing certain disclosures for sponsor defined benefit pension or other postretirement plans. The amendments are effective for fiscal years ending after December 15, 2020 and the amendments should be applied retrospectively to all periods presented. We are currently evaluating the impact of ASU No. 2018-14 on our consolidated financial condition and results of operations. In August 2018, the FASB issued ASU No. 2018-15, "Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract." The ASU addresses how entities should account for costs associated with implementing a cloud computing arrangement that is considered a service contract. Per the amendments of the ASU, implementation costs incurred in a cloud computing arrangement that is a service contract should be accounted for in the same manner as implementation costs incurred to develop or obtain software for internal use as prescribed by guidance in ASC350-40. The ASU requires that implementation costs incurred in a cloud computing arrangement be capitalized rather than expensed. Further, the ASU specifies the method for the amortization of costs incurred during implementation, and the manner in which the unamortized portion of these capitalized implementation costs should be evaluated for impairment. The ASU also provides guidance on how to present such implementation costs in the financial statements and also creates additional disclosure requirements. The amendments are effective for fiscal years beginning after December 15, 2019, including interim periods. Early adoption of the ASU requirements is permitted, including adoption in any interim period. The amendments in this ASU should be applied either retrospectively or prospectively to all implementation costs incurred after the date of adoption. We are currently evaluating the impact of ASU No. 2018-15 on our consolidated financial condition and results of operations. In October 2018, the FASB issued ASU No. 2018-17, "Consolidation (Topic 810): Targeted Improvements to Related Party Guidance for Variable Interest Entities ( "VIEs" )." The standard reduces the cost and complexity of financial reporting associated with VIEs. The new standard amends the guidance for determining whether a decision-making fee is a VIE. The amendments require organizations to consider indirect interests held through related parties under common control on a proportional basis rather than as the equivalent of a direct interest in its entirety as currently required in GAAP. The amendments of this ASU are effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. We are currently evaluating the impact of ASU No. 2018-17 on our consolidated financial condition and results of operations. In November 2018, the FASB issued ASU No. 2018-18, "Collaborative Arrangements (Topic 808): Clarifying the Interaction Between Topic 808 and Topic 606." The ASU clarifies the interaction between the guidance for certain collaborative arrangements and the New Revenue Standard. The amendments of the ASU provide guidance on how to assess whether certain transactions between collaborative arrangement participants should be accounted for within the New Revenue Standard. The ASU also provides more comparability in the presentation of revenue for certain transactions between collaborative arrangement participants. Parts of the collaborative arrangement that are not in the purview of the revenue recognition standard should be presented separately. The amendments are effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. Early adoption is permitted. We are currently evaluating the impact of ASU No. 2018-18 on our consolidated financial condition and results of operations.

Significant Accounting Polici_3

Significant Accounting Policies and Accounting Developments (Tables)	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Schedule of Estimated Useful Lives of Assets	Generally, the estimated useful lives of the assets are: Buildings and improvements 10 to 40 years Machinery, equipment and tooling 3 to 14 years Software, furniture and fixtures and other 3 to 7 years
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 basic net earnings per common share. Earnings per weighted average common share outstanding was calculated as follows: Year Ended December 31, 2018 2017 2016 (Amounts in thousands, except per share data) Net earnings of Flowserve Corporation $ 119,671 $ 2,652 $ 132,455 Dividends on restricted shares not expected to vest — — 6 Earnings attributable to common and participating shareholders $ 119,671 $ 2,652 $ 132,461 Weighted average shares: Common stock 130,794 130,600 130,147 Participating securities 29 103 285 Denominator for basic earnings per common share 130,823 130,703 130,432 Effect of potentially dilutive securities 448 655 543 Denominator for diluted earnings per common share 131,271 131,358 130,975 Net earnings per share attributable to Flowserve Corporation common shareholders: Basic $ 0.91 $ 0.02 $ 1.02 Diluted 0.91 0.02 1.01

Revenue Recognition (Tables)

Revenue Recognition (Tables)	12 Months Ended
	Dec. 31, 2018
Revenue Recognition and Deferred Revenue [Abstract]
Schedule of Revenue Recognition Adoption	The following table presents the cumulative effect of the changes made to our consolidated balance sheet as of January 1, 2018 related to the adoption of the New Revenue Standard: December 31, Adjustments due to adoption of New Revenue Standard January 1, (Amounts in thousands) Accounts receivable, net of allowance for doubtful accounts(1) 856,711 (49,247 ) 807,464 Contract assets, net(2) — 219,361 219,361 Inventories, net(3) 884,273 (238,573 ) 645,700 Prepaid expenses and other 114,316 (4,457 ) 109,859 Total current assets 2,558,745 (72,916 ) 2,485,829 Deferred taxes 51,974 (2,706 ) 49,268 Other assets, net 199,722 2,004 201,726 Total assets 4,910,474 (73,618 ) 4,836,856 Accounts payable 443,113 11,784 454,897 Accrued liabilities(4) 724,196 (290,445 ) 433,751 Contract liabilities(5) — 178,515 178,515 Total current liabilities 1,242,908 (100,146 ) 1,142,762 Retirement obligations and other liabilities 496,954 6,568 503,522 Retained earnings 3,503,947 19,642 3,523,589 Total equity 1,670,954 19,960 1,690,914 Total liabilities and equity 4,910,474 (73,618 ) 4,836,856 _____________________________________ (1) Adjusted for contract assets accounted for under delivery based methods, previously reported in receivables, net. (2) Represents our revenue recognized in advance of our contractual right to bill the customer. (3) Adjusted for contract assets accounted under the over time method, previously reported in inventories, net. (4) Adjusted for deferred revenue previously reported in accrued liabilities and reclassified to contract assets and contract liabilities. (5) Represents contractual billings in excess of revenue recognized at the contract level, previously reported in accrued liabilities. The following tables present the dual reporting requirements: December 31, 2018 (Amounts in thousands, except percentages) Balances without Adoption of New Revenue Standard Effect of Change As Reported Sales $ 3,761,470 $ 71,196 $ 3,832,666 Cost of sales (2,598,904 ) (45,926 ) (2,644,830 ) Gross profit 1,162,566 25,270 1,187,836 Gross profit margin 30.9 % 31.0 % Selling, general and administrative expense (942,648 ) (1,066 ) (943,714 ) Loss on sale of business (7,727 ) — (7,727 ) Net earnings from affiliates 11,143 — 11,143 Operating income 223,334 24,204 247,538 Operating income as a percent of sales 5.9 % 6.5 % Interest expense (58,160 ) — (58,160 ) Interest income 6,465 — 6,465 Other expense, net (22,066 ) 2,497 (19,569 ) Earnings before income taxes 149,573 26,701 176,274 Provision for income taxes (47,309 ) (3,915 ) (51,224 ) Net earnings, including noncontrolling interests 102,264 22,786 125,050 Less: Net earnings attributable to noncontrolling interests (5,379 ) — (5,379 ) Net earnings attributable to Flowserve Corporation $ 96,885 $ 22,786 $ 119,671 December 31, 2018 (Amounts in thousands) Balances without Adoption of New Revenue Standard Effect of Change As Reported Accounts receivable, net 852,055 (59,621 ) 792,434 Contract assets, net — 228,579 228,579 Inventories, net 895,677 (261,806 ) 633,871 Prepaid expenses and other 121,796 (13,218 ) 108,578 Total current assets 2,489,211 (106,066 ) 2,383,145 Other assets, net 183,493 6,671 190,164 Total assets 4,715,916 (99,639 ) 4,616,277 Accounts payable 406,569 12,324 418,893 Accrued liabilities 750,505 (359,099 ) 391,406 Contract liabilities — 202,458 202,458 Total current liabilities 1,225,292 (144,317 ) 1,080,975 Retained earnings 3,500,566 42,441 3,543,007 Total equity 1,618,802 41,978 1,660,780 Total liabilities and equity 4,715,916 (99,639 ) 4,616,277
Disaggregation of Revenue	The following table presents our customer revenues disaggregated by revenue source: December 31, 2018 (Amounts in thousands) EPD IPD FCD Total Original Equipment $ 529,005 $ 463,157 $ 943,893 $ 1,936,055 Aftermarket 1,331,484 296,842 268,285 1,896,611 $ 1,860,489 $ 759,999 $ 1,212,178 $ 3,832,666 December 31, 2017 (1) (Amounts in thousands) EPD IPD FCD Total Original Equipment $ 511,060 $ 457,992 $ 906,890 $ 1,875,942 Aftermarket 1,227,022 281,664 276,203 1,784,889 $ 1,738,082 $ 739,656 $ 1,183,093 $ 3,660,831 December 31, 2016 (1) (Amounts in thousands) EPD IPD FCD Total Original Equipment $ 683,871 $ 534,957 $ 975,786 $ 2,194,614 Aftermarket 1,279,215 264,966 251,692 1,795,873 $ 1,963,086 $ 799,923 $ 1,227,478 $ 3,990,487 _____________________________________ (1) Prior periods are presented in accordance with Topic 605. Our customer sales are diversified geographically. The following table presents our revenues disaggregated by geography, based on the shipping addresses of our customers: December 31, 2018 (Amounts in thousands) EPD IPD FCD Total North America(1) $ 715,571 $ 322,066 $ 540,316 $ 1,577,953 Latin America(1) 190,605 28,771 22,405 241,781 Middle East and Africa 280,461 49,023 138,240 467,724 Asia Pacific 408,104 94,455 279,109 781,668 Europe 265,748 265,684 232,108 763,540 $ 1,860,489 $ 759,999 $ 1,212,178 $ 3,832,666 December 31, 2017 (2) (Amounts in thousands) EPD IPD FCD Total North America(1) $ 667,572 $ 301,841 $ 477,275 $ 1,446,688 Latin America(1) 140,418 28,559 33,207 202,184 Middle East and Africa 301,998 54,535 155,447 511,980 Asia Pacific 351,178 93,834 239,197 684,209 Europe 276,916 260,887 277,967 815,770 $ 1,738,082 $ 739,656 $ 1,183,093 $ 3,660,831 December 31, 2016 (2) (Amounts in thousands) EPD IPD FCD Total North America(1) $ 795,919 $ 328,026 $ 478,462 $ 1,602,407 Latin America(1) 204,123 34,112 49,440 287,675 Middle East and Africa 320,529 58,389 169,212 548,130 Asia Pacific 351,153 128,289 233,027 712,469 Europe 291,362 251,107 297,337 839,806 $ 1,963,086 $ 799,923 $ 1,227,478 $ 3,990,487 _____________________________________ (1) North America represents United States and Canada; Latin America includes Mexico. (2) Prior periods are presented in accordance with Topic 605.
Contract with Customer, Asset and Liability	The following table presents opening and closing balances of contract assets and contract liabilities, current and long-term, for the year ended December 31, 2018 : ( Amounts in thousands) Contract Assets, net (Current) Long-term Contract Assets, net(1) Contract Liabilities (Current) Long-term Contract Liabilities(2) Beginning balance, January 1, 2018 $ 219,361 $ 3,990 $ 178,515 $ 3,925 Revenue recognized that was included in contract liabilities at the beginning of the period — — (123,458 ) (1,360 ) Increase due to revenue recognized in the period in excess of billings 846,922 6,668 — — Increase due to billings arising during the period in excess of revenue recognized — — 152,664 (481 ) Amounts transferred from contract assets to receivables (815,213 ) (2,503 ) — — Currency effects and other, net (22,491 ) 2,812 (5,263 ) (714 ) Ending balance, December 31, 2018 $ 228,579 $ 10,967 $ 202,458 $ 1,370 _____________________________________ (1) Included in other assets, net. (2) Included in retirement obligations and other liabilities.

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Changes in Carrying Amount of Goodwill	The changes in the carrying amount of goodwill for the years ended December 31, 2018 and 2017 are as follows: EPD IPD FCD Total (Amounts in thousands) Balance as of December 31, 2016 $ 473,831 $ 299,765 $ 431,458 $ 1,205,054 Dispositions — (1,900 ) (36,880 ) (38,780 ) Currency translation and other 8,378 21,435 22,101 51,914 Balance as of December 31, 2017 $ 482,209 $ 319,300 $ 416,679 $ 1,218,188 Currency translation and other (3,338 ) (8,032 ) (9,178 ) (20,548 ) Balance as of December 31, 2018 $ 478,871 $ 311,268 $ 407,501 $ 1,197,640
Schedule of Changes in Intangible Assets	The following table provides information about our intangible assets for the years ended December 31, 2018 and 2017 : December 31, 2018 December 31, 2017 Useful Life (Years) Ending Gross Amount Accumulated Amortization Ending Gross Amount Accumulated Amortization (Amounts in thousands, except years) Finite-lived intangible assets: Engineering drawings(1) 10-22 $ 89,796 $ (75,239 ) $ 90,442 $ (71,761 ) Existing customer relationships(2) 5-10 82,235 (47,016 ) 84,291 (41,279 ) Patents 9-16 26,251 (26,136 ) 26,876 (26,231 ) Other 4-40 88,138 (37,145 ) 88,887 (34,251 ) $ 286,420 $ (185,536 ) $ 290,496 $ (173,522 ) Indefinite-lived intangible assets(3) $ 91,251 $ (1,585 ) $ 94,665 $ (1,590 ) ____________________________________ (1) Engineering drawings represent the estimated fair value associated with specific acquired product and component schematics. (2) Existing customer relationships acquired prior to 2011 had a useful life of five years. (3) Accumulated amortization for indefinite-lived intangible assets relates to amounts recorded prior to the implementation date of guidance issued in ASC 350.
Schedule of Actual and Estimated Future Amortization of Finite-Lived Intangible Assets	The following schedule outlines actual amortization expense recognized during 2018 and an estimate of future amortization based upon the finite-lived intangible assets owned at December 31, 2018 : Amortization Expense (Amounts in thousands) Actual for year ended December 31, 2018 $ 14,068 Estimated for year ended December 31, 2019 16,178 Estimated for year ended December 31, 2020 15,030 Estimated for year ended December 31, 2021 10,982 Estimated for year ended December 31, 2022 9,692 Estimated for year ended December 31, 2023 7,132 Thereafter 41,874

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Dec. 31, 2018
Inventory Disclosure [Abstract]
Components of Inventory	Inventories, net consisted of the following: December 31, 2018 2017 (Amounts in thousands) Raw materials $ 310,204 $ 358,827 Work in process(1) 191,660 548,250 Finished goods(2) 205,814 215,849 Less: Progress billings — (160,044 ) Less: Excess and obsolete reserve (73,807 ) (78,609 ) Inventories, net $ 633,871 $ 884,273

Stock-Based Compensation Plans

Stock-Based Compensation Plans (Tables)	12 Months Ended
	Dec. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Stock Option Activity	Information related to stock options issued to officers, other employees and directors under all plans is presented in the following table: 2018 2017 2016 Shares Weighted Average Exercise Price Shares Weighted Average Exercise Price Shares Weighted Average Exercise Price Number of shares under option: Outstanding — beginning of year 114,943 $ 48.63 — $ — 84,261 $ 17.42 Granted — — 114,943 48.63 — — Exercised — — — — (84,261 ) 17.42 Canceled — — — — — — Outstanding — end of year 114,943 $ 48.63 114,943 $ 48.63 — $ — Exercisable — end of year — $ — — $ — — $ —
Schedule of Stock-Based Compensation	We recorded stock-based compensation for Restricted Shares as follows: Year Ended December 31, 2018 2017 2016 (Amounts in millions) Stock-based compensation expense $ 19.9 $ 22.8 $ 30.2 Related income tax benefit (4.5 ) (5.2) (10.4) Net stock-based compensation expense $ 15.4 $ 17.6 $ 19.8
Information Regarding Restricted Shares	The following table summarizes information regarding Restricted Shares: Year Ended December 31, 2018 Shares Weighted Average Grant-Date Fair Value Number of unvested Restricted Shares: Outstanding — beginning of year 1,203,852 $ 47.10 Granted 932,392 44.14 Vested (308,747 ) 46.38 Canceled (297,283 ) 49.09 Outstanding — ending of year 1,530,214 $ 45.06

Derivatives and Hedging Activ_2

Derivatives and Hedging Activities (Tables)	12 Months Ended
	Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of Fair Value of Forward Exchange Contracts not Designated as Hedging Instruments	The fair values of foreign exchange contracts are summarized below: Year Ended December 31, 2018 2017 (Amounts in thousands) Current derivative assets $ 535 $ 2,489 Noncurrent derivative assets 5 177 Current derivative liabilities 3,285 284 Noncurrent derivative liabilities 2 56
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: Year Ended December 31, 2018 2017 2016 (Amounts in thousands) (Loss) gain recognized in income $ (3,154 ) $ 2,122 $ 5,693

Details of Certain Consolidat_2

Details of Certain Consolidated Balance Sheet Captions (Tables)	12 Months Ended
	Dec. 31, 2018
Details of Certain Consolidated Balance Sheet Captions [Abstract]
Accounts Receivable, net	Accounts receivable, net were: December 31, 2018 2017 (Amounts in thousands) Accounts receivable $ 843,935 $ 915,824 Less: allowance for doubtful accounts (51,501 ) (59,113 ) Accounts receivable, net $ 792,434 $ 856,711
Property, Plant and Equipment, net	Property, plant and equipment, net were: December 31, 2018 2017 (Amounts in thousands) Land $ 72,701 $ 84,551 Buildings and improvements 441,006 470,354 Machinery, equipment and tooling 634,838 682,316 Software, furniture and fixtures and other 418,185 402,608 Gross property, plant and equipment(1) 1,566,730 1,639,829 Less: accumulated depreciation (956,634 ) (968,033 ) Property, plant and equipment, net $ 610,096 $ 671,796
Accrued Liabilities	Accrued liabilities were: December 31, 2018 2017 (Amounts in thousands) Wages, compensation and other benefits $ 198,311 $ 180,717 Commissions and royalties 19,673 23,240 Customer advance payments — 273,127 Progress billings in excess of accumulated costs — 4,411 Warranty costs and late delivery penalties 31,683 53,027 Sales and use tax 14,486 14,830 Income tax 9,865 27,862 Other 117,388 146,982 Accrued liabilities $ 391,406 $ 724,196
Retirement Obligations and Other Liabilities	Retirement obligations and other liabilities were: December 31, 2018 2017 (Amounts in thousands) Pension and postretirement benefits $ 183,012 $ 203,640 Deferred taxes 159,404 156,276 Legal and environmental 21,949 25,996 Uncertain tax positions and other tax liabilities 57,553 72,711 Other 37,775 38,331 Retirement obligations and other liabilities $ 459,693 $ 496,954

Debt and Lease Obligations (Tab

Debt and Lease Obligations (Tables)	12 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
Debt Including Capital Lease Obligations	Debt, including capital lease obligations, consisted of: December 31, 2018 2017 (Amounts in thousands) 1.25% EUR Senior Notes due March 17, 2022, net of unamortized discount and debt issuance costs of $3,914 and $5,335 at December 31, 2018 and 2017, respectively $ 569,536 $ 594,465 3.50% USD Senior Notes due September 15, 2022, net of unamortized discount and debt issuance costs of $2,589 and $3,230 at December 31, 2018 and 2017, respectively 497,411 496,770 4.00% USD Senior Notes due November 15, 2023, net of unamortized discount and debt issuance costs of $2,192 and $2,590 at December 31, 2018 and 2017, respectively 297,808 297,410 Term Loan Facility, interest rate of 4.30% and 3.19% at December 31, 2018 and 2017, net of debt issuance costs of $249 and $585, respectively 104,751 164,415 Capital lease obligations and other borrowings 13,541 22,197 Debt and capital lease obligations 1,483,047 1,575,257 Less amounts due within one year 68,218 75,599 Total debt due after one year $ 1,414,829 $ 1,499,658
Schedule Maturities of the Senior Credit Facility as well as our Senior Notes and other debt	Scheduled maturities of the Senior Credit Facility (as described below), as well as our Senior Notes and other debt, are: Term Loan Senior Notes and other debt Total (Amounts in thousands) 2019 $ 60,000 $ 8,218 $ 68,218 2020 44,751 5,322 50,073 2022 — 1,066,948 1,066,948 2023 and thereafter — 297,808 297,808 Total $ 104,751 $ 1,378,296 $ 1,483,047
Schedule of Future Minimum Lease Payments Due Under Non-cancelable Operating Leases	The future minimum lease payments due under non-cancellable operating leases are (amounts in thousands): Year Ended December 31, 2019 $ 68,443 2020 49,874 2021 38,446 2022 28,496 2023 21,473 Thereafter 66,518 Total minimum lease payments $ 273,250

Pension and Postretirement Be_2

Pension and Postretirement Benefits (Tables)	12 Months Ended
	Dec. 31, 2018
Retirement Benefits [Abstract]
Schedule of Assumptions Related to Plans	The following are assumptions related to the non-U.S. defined benefit pension plans: Year Ended December 31, 2018 2017 2016 Weighted average assumptions used to determine Benefit Obligations: Discount rate 2.42 % 2.25 % 2.34 % Rate of increase in compensation levels 3.28 3.25 3.22 Weighted average assumptions used to determine net pension expense: Long-term rate of return on assets 3.62 % 3.88 % 4.68 % Discount rate 2.25 2.34 3.13 Rate of increase in compensation levels 3.25 3.22 3.61 The following are assumptions related to postretirement benefits: Year Ended December 31, 2018 2017 2016 Weighted average assumptions used to determine Benefit Obligation: Discount rate 4.20 % 3.48 % 3.75 % Weighted average assumptions used to determine net expense: Discount rate 3.48 % 3.75 % 4.25 % The following are assumptions related to the U.S. defined benefit pension plans: Year Ended December 31, 2018 2017 2016 Weighted average assumptions used to determine Benefit Obligations: Discount rate 4.34 % 3.63 % 4.00 % Rate of increase in compensation levels 3.50 4.01 4.00 Weighted average assumptions used to determine net pension expense: Long-term rate of return on assets 6.00 % 6.00 % 6.00 % Discount rate 3.63 4.00 4.75 Rate of increase in compensation levels 4.01 4.01 4.00
Components of Net Periodic Cost for Pension and Postretirement Benefits	Net pension expense for non-U.S. defined benefit pension plans was: Year Ended December 31, 2018 2017 2016 (Amounts in thousands) Service cost $ 7,208 $ 7,247 $ 7,131 Interest cost 8,970 9,320 11,623 Expected return on plan assets (8,747 ) (8,834 ) (10,013 ) Amortization of unrecognized net loss 3,626 3,741 4,751 Amortization of unrecognized prior service cost (benefit) 33 (4 ) 4 Settlement (gain) loss and other (521 ) 2,434 780 Non-U.S. net pension expense $ 10,569 $ 13,904 $ 14,276 Net pension expense for the U.S. defined benefit pension plans (including both qualified and non-qualified plans) was: Year Ended December 31, 2018 2017 2016 (Amounts in thousands) Service cost $ 22,195 $ 22,257 $ 22,583 Interest cost 15,789 16,878 19,072 Expected return on plan assets (25,704 ) (24,505 ) (23,997 ) Settlement (gain) loss (462 ) (216 ) 91 Amortization of unrecognized prior service cost 164 112 488 Amortization of unrecognized net loss 5,514 6,021 4,999 U.S. net pension expense $ 17,496 $ 20,547 $ 23,236 Net postretirement benefit cost for postretirement medical plans was: Year Ended December 31, 2018 2017 2016 (Amounts in thousands) Service cost $ — $ — $ 1 Interest cost 779 919 1,154 Amortization of unrecognized prior service cost 122 122 122 Amortization of unrecognized net gain (764 ) (275 ) (355 ) Net postretirement benefit expense $ 137 $ 766 $ 922
Schedule of Funded Status	The following summarizes the net pension liability for non-U.S. plans: December 31, 2018 2017 (Amounts in thousands) Plan assets, at fair value $ 232,175 $ 248,733 Benefit Obligation (376,649 ) (413,960 ) Funded status $ (144,474 ) $ (165,227 ) The following summarizes the accrued postretirement benefits liability for the postretirement medical plans: December 31, 2018 2017 (Amounts in thousands) Postretirement Benefit Obligation $ 18,810 $ 23,882 Funded status $ (18,810 ) $ (23,882 ) The following summarizes the net pension (liability) asset for U.S. plans: December 31, 2018 2017 (Amounts in thousands) Plan assets, at fair value $ 425,792 $ 464,779 Benefit Obligation (432,595 ) (461,355 ) Funded status $ (6,803 ) $ 3,424
Schedule of Amounts Recognized in Balance Sheet	The following summarizes amounts recognized in the balance sheet for postretirement Benefit Obligation: December 31, 2018 2017 (Amounts in thousands) Current liabilities $ (2,500 ) $ (2,952 ) Noncurrent liabilities (16,310 ) (20,930 ) Funded status $ (18,810 ) $ (23,882 ) The following summarizes amounts recognized in the balance sheet for non-U.S. plans: December 31, 2018 2017 \ (Amounts in thousands) Noncurrent assets $ 17,864 $ 13,908 Current liabilities (7,782 ) (8,392 ) Noncurrent liabilities (154,556 ) (170,743 ) Funded status $ (144,474 ) $ (165,227 ) The following summarizes amounts recognized in the balance sheet for U.S. plans: December 31, 2018 2017 (Amounts in thousands) Noncurrent assets $ — $ 10,853 Current liabilities (232 ) (459 ) Noncurrent liabilities (6,571 ) (6,970 ) Funded status $ (6,803 ) $ 3,424
Schedule of Benefit Obligations and Accumulated Benefit Obligations	The following is a reconciliation of the non-U.S. plans’ defined benefit pension obligations: December 31, 2018 2017 (Amounts in thousands) Balance — January 1 $ 413,960 $ 383,947 Service cost 7,208 7,247 Interest cost 8,970 9,320 Employee contributions 238 228 Settlements and other (7,896 ) (9,260 ) Actuarial gain(1) (8,839 ) (1,913 ) Net benefits and expenses paid (16,632 ) (18,701 ) Currency translation impact(2) (20,360 ) 43,092 Balance — December 31 $ 376,649 $ 413,960 Accumulated benefit obligations at December 31 $ 356,989 $ 391,102 _______________________________________ (1) The 2018 actuarial gain primarily reflects the increase in the discount rates for U.K., the Euro-zone and Mexico. (2) In 2018 the currency translation impact reflects the strengthening of the U.S. dollar against our significant currencies, primarily the Euro and British pound, while in 2017 the currency translation impact reflects the weakening of the U.S. dollar against our significant currencies, primarily the Euro and British pound. The following is a reconciliation of the postretirement Benefit Obligation: December 31, 2018 2017 (Amounts in thousands) Balance — January 1 $ 23,882 $ 27,317 Interest cost 779 919 Employee contributions 883 939 Medicare subsidies receivable 127 235 Actuarial gain (2,662 ) (1,818 ) Net benefits and expenses paid (4,199 ) (3,710 ) Balance — December 31 $ 18,810 $ 23,882 The following is a summary of the changes in the U.S. defined benefit plans’ pension obligations: December 31, 2018 2017 (Amounts in thousands) Balance — January 1 $ 461,355 $ 449,601 Service cost 22,195 22,257 Interest cost 15,789 16,878 Plan amendments and settlements (3,016 ) (3,006 ) Actuarial (gain) loss(1) (25,908 ) 9,404 Benefits paid (37,820 ) (33,779 ) Balance — December 31 $ 432,595 $ 461,355 Accumulated benefit obligations at December 31 $ 431,973 $ 461,355 _______________________________________ (1) The actuarial (gain) loss in 2018 and 2017 primarily reflect the impact of changes in the discount rate.
Schedule of Expected Cash Activity	The following table summarizes the expected cash benefit payments for the U.S. defined benefit pension plans in the future (amounts in millions): 2019 $ 41.1 2020 42.8 2021 43.5 2022 41.4 2023 42.4 2024-2028 196.1 The following table summarizes the expected cash benefit payments for the non-U.S. defined benefit plans in the future (amounts in millions): 2019 $ 15.8 2020 15.8 2021 16.6 2022 17.6 2023 17.6 2024-2028 93.0 The following presents expected benefit payments for future periods (amounts in millions): Expected Payments Medicare Subsidy 2019 $ 2.6 $ 0.1 2020 2.4 0.1 2021 2.2 0.1 2022 2.0 0.1 2023 1.8 0.1 2024-2028 6.8 0.3
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table shows the change in accumulated other comprehensive loss attributable to the components of the net cost and the change in Benefit Obligations for non-U.S. plans, net of tax: December 31, 2018 2017 (Amounts in thousands) Balance — January 1 $ (67,872 ) $ (68,260 ) Amortization of net loss 3,260 2,756 Net gain arising during the year 2,458 2,289 Settlement (gain) loss (386 ) 1,668 Prior service (cost) benefit arising during the year (3,080 ) 28 Currency translation impact and other 3,532 (6,353 ) Balance — December 31 $ (62,088 ) $ (67,872 ) Amounts recorded in accumulated other comprehensive loss consist of: December 31, 2018 2017 (Amounts in thousands) Unrecognized net loss $ (58,697 ) $ (67,886 ) Unrecognized prior service (cost) gain (3,391 ) 14 Accumulated other comprehensive loss, net of tax $ (62,088 ) $ (67,872 ) The following table shows the change in accumulated other comprehensive loss attributable to the components of the net cost and the change in Benefit Obligations for postretirement benefits, net of tax: 2018 2017 (Amounts in thousands) Balance — January 1 $ 880 $ (163 ) Amortization of net gain (584 ) (172 ) Amortization of prior service cost 93 76 Net gain arising during the year 2,036 1,139 Balance — December 31 $ 2,425 $ 880 Amounts recorded in accumulated other comprehensive loss consist of: December 31, 2018 2017 (Amounts in thousands) Unrecognized net gain $ 3,365 $ 1,921 Unrecognized prior service cost (940 ) (1,041 ) Accumulated other comprehensive income, net of tax $ 2,425 $ 880 The following table shows the change in accumulated other comprehensive loss attributable to the components of the net cost and the change in Benefit Obligations for U.S. plans, net of tax: December 31, 2018 2017 (Amounts in thousands) Balance — January 1 $ (49,790 ) $ (69,132 ) Amortization of net loss 4,216 3,766 Amortization of prior service cost 125 70 Net (loss) gain arising during the year (16,216 ) 16,009 Settlement gain (353 ) (135 ) Prior service cost arising during the year — (368 ) Balance — December 31 $ (62,018 ) $ (49,790 ) Amounts recorded in accumulated other comprehensive loss consist of: December 31, 2018 2017 (Amounts in thousands) Unrecognized net loss $ (61,129 ) $ (48,825 ) Unrecognized prior service cost (889 ) (965 ) Accumulated other comprehensive loss, net of tax $ (62,018 ) $ (49,790 )
Reconciliation of Plan Assets	The following is a reconciliation of the U.S. defined benefit pension plans’ assets: December 31, 2018 2017 (Amounts in thousands) Balance — January 1 $ 464,779 $ 418,854 Return on plan assets (21,414 ) 59,462 Company contributions 23,263 23,836 Benefits paid (37,820 ) (33,779 ) Settlements (3,016 ) (3,594 ) Balance — December 31 $ 425,792 $ 464,779 The following is a reconciliation of the non-U.S. plans’ defined benefit pension assets: December 31, 2018 2017 (Amounts in thousands) Balance — January 1 $ 248,733 $ 223,491 (Loss) return on plan assets (580 ) 10,871 Employee contributions 238 228 Company contributions 21,696 18,494 Settlements (7,776 ) (7,383 ) Currency translation impact and other (13,504 ) 21,733 Net benefits and expenses paid (16,632 ) (18,701 ) Balance — December 31 $ 232,175 $ 248,733
Allocation of Plan Assets	The asset allocations for the qualified plan at the end of 2018 and 2017 by asset category, are as follows: Target Allocation at December 31, Percentage of Actual Plan Assets at December 31, Asset category 2018 2017 2018 2017 Cash and cash equivalents — % — % 1 % 1 % Cash and cash equivalents — % — % 1 % 1 % Global Equity 30 % 36 % 30 % 36 % Global Real Assets 13 % 12 % 13 % 12 % Equity securities 43 % 48 % 43 % 48 % Diversified Credit 12 % 12 % 13 % 12 % Liability-Driven Investment 45 % 40 % 43 % 39 % Fixed income 57 % 52 % 56 % 51 % The asset allocations for the non-U.S. defined benefit pension plans at the end of 2018 and 2017 are as follows: Target Allocation at December 31, Percentage of Actual Plan Assets at December 31, Asset category 2018 2017 2018 2017 Cash and cash equivalents 7 % 3 % 7 % 3 % Cash and cash equivalents 7 % 3 % 7 % 3 % North American Companies 3 % 3 % 3 % 3 % Global Equity 2 % 3 % 2 % 3 % Equity securities 5 % 6 % 5 % 6 % U.K. Government Gilt Index 43 % 41 % 43 % 41 % U.K. Corporate Bond Index — % 1 % — % 1 % Global Fixed Income Bond 2 % 2 % 2 % 2 % Liability-Driven Investment 9 % 9 % 9 % 9 % Fixed income 54 % 53 % 54 % 53 % Multi-asset 19 % 22 % 19 % 22 % Buy-in Contract 10 % 10 % 10 % 10 % Other 5 % 6 % 5 % 6 % Other types 34 % 38 % 34 % 38 % The fair values of the non-U.S. assets were: At December 31, 2018 At December 31, 2017 Hierarchical Levels Hierarchical Levels Total I II III Total I II III (Amounts in thousands) (Amounts in thousands) Cash $ 15,105 $ 15,105 $ — — $ 6,815 $ 6,815 $ — $ — Commingled Funds: Equity securities North American Companies(a) 6,603 — 6,603 — 7,119 — 7,119 — Global Equity(b) 4,648 — 4,648 — 8,951 — 8,951 — Fixed income securities U.K. Government Gilt Index(c) 99,482 — 99,482 — 103,230 — 103,230 — U.K. Corporate Bond Index(d) 1,192 — 1,192 — 1,316 — 1,316 — Global Fixed Income Bond(e) 4,110 — 4,110 — 5,350 — 5,350 — Liability-Driven Investment(f) 20,004 — 20,004 — 21,837 — 21,837 — Other Types of Investments: Multi-asset(g) 44,147 — 44,147 — 55,503 — 55,503 — Buy-in Contract(h) 23,616 — — 23,616 24,484 — — 24,484 Other(i) 13,268 — — 13,268 14,128 — — 14,128 $ 232,175 $ 15,105 $ 180,186 $ 36,884 $ 248,733 $ 6,815 $ 203,306 $ 38,612 _______________________________________ (a) North American Companies represents U.S. and Canadian large cap equity funds, which are managed and track their respective benchmarks (FTSE All-World USA Index and FTSE All-World Canada Index). (b) Global Equity represents actively managed, global equity funds taking a top-down strategic view on the different regions by analyzing companies based on fundamentals, market-driven, thematic and quantitative factors to generate alpha. (c) U.K. Government Gilt Index represents U.K. government issued fixed income investments which are passively managed and track their respective benchmarks. (d) U.K. Corporate Bond Index represents U.K. corporate bond investments, which are passively managed and track the iBoxx Over 15 years £ Non-Gilt Index. (e) Global Fixed Income Bond represents investment funds that are actively managed, diversified and invested in traditional government bonds, high-quality corporate bonds, asset-backed securities and emerging market debt. (f) Liability-Driven Investment seeks to invest in fixed income securities that collectively closely match those found in discount curves used to value the plan's liabilities. (g) Multi-asset seeks an attractive risk-adjusted return by investing in a diversified portfolio of strategies, including equities and fixed income. (h) Buy-in contract represents an asset held by the Netherlands plan, whereby the cost of providing benefits is funded by the contract. The fair value of the asset as January 1, 2018 was $24.5 million with contributions and currency adjustments resulting in a fair value of $23.6 million at December 31, 2018 . The fair value of this asset is based on the current present value of accrued benefits and will fluctuate based on changes in the obligations associated with covered plan members as well as the assumptions used in the present value calculation. (i) Includes assets held by plans outside the United Kingdom and the Netherlands. Details, including Level III rollforward details are not material. The plan’s financial instruments, shown below, are presented at fair value. See Note 1 for further discussion on how the hierarchical levels of the fair values of the Plan’s investments are determined. The fair values of our U.S. defined benefit plan assets were: At December 31, 2018 At December 31, 2017 Hierarchical Levels Hierarchical Levels Total I II III Total I II III (Amounts in thousands) (Amounts in thousands) Cash and cash equivalents $ 4,778 $ 4,778 $ — $ — $ 5,494 $ 5,494 $ — $ — Commingled Funds: Equity securities Global Equity(a) 126,165 — 126,165 — 167,336 — 167,336 — Global Real Assets(b) 55,046 — 55,046 — 55,261 — 55,261 — Fixed income securities Diversified Credit(c) 55,039 — 55,039 — 55,440 — 55,440 — Liability-Driven Investment(d) 184,764 — 184,764 — 181,248 — 181,248 — $ 425,792 $ 4,778 $ 421,014 $ — $ 464,779 $ 5,494 $ 459,285 $ — _______________________________________ (a) Global Equity fund seeks to closely track the performance of the MSCI All Country World Index. (b) Global Real Asset funds seek to provide exposure to the listed global real estate investment trusts (REITs) and infrastructure markets. (c) Diversified Credit funds seek to provide exposure to the high yield, emerging markets, bank loans, and securitized credit markets. (d) LDI funds seek to invest in high quality fixed income securities that collectively closely match those found in discount curves used to value the plan's liabilities.
Schedule of Benefit Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets	The following summarizes key pension plan information regarding U.S. and non-U.S. plans whose accumulated benefit obligations exceed the fair value of their respective plan assets. December 31, 2018 2017 (Amounts in thousands) Benefit Obligation $ 613,441 $ 217,510 Accumulated benefit obligation 596,584 197,816 Fair value of plan assets 444,929 32,052
Schedule of Effect of One-Percentage Point Change in Assumed Health Care Cost Trend Rates	A one-percentage point change in assumed health care cost trend rates would have the following effect on the 2018 reported amounts (in thousands): 1% Increase 1% Decrease Effect on postretirement Benefit Obligation $ 73 $ (72 ) Effect on service cost plus interest cost 4 (3 )

Warranty Reserve (Tables)

Warranty Reserve (Tables)	12 Months Ended
	Dec. 31, 2018
Product Warranties Disclosures [Abstract]
Schedule of Activity in the Warranty Reserve	The following is a summary of the activity in the warranty reserve: 2018 2017 2016 (Amounts in thousands) Balance — January 1 $ 33,601 $ 30,459 $ 34,574 Accruals for warranty expense, net of adjustments 28,454 35,001 28,364 Settlements made (30,022 ) (31,859 ) (32,479 ) Balance — December 31 $ 32,033 $ 33,601 $ 30,459

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Schedule of Provision for Income Taxes	The provision for income taxes consists of the following: Year Ended December 31, 2018 2017 2016 (Amounts in thousands) Current: U.S. federal $ 5,150 $ 59,292 $ 20,569 Non-U.S. 36,897 22,442 75,227 State and local 2,647 5,537 2,612 Total current 44,694 87,271 98,408 Deferred: U.S. federal 11,242 135,294 22,249 Non-U.S. (4,585 ) 34,626 (45,577 ) State and local (127 ) 1,488 2,300 Total deferred 6,530 171,408 (21,028 ) Total provision $ 51,224 $ 258,679 $ 77,380
Schedule of Reconciliation Statutory Corporate Rate to Provision for Income Taxes	The provision for income taxes differs from the statutory corporate rate due to the following: Year Ended December 31, 2018 2017 2016 (Amounts in millions) Statutory federal income tax at 21% (35% for 2017 and 2016) $ 37.0 $ 92.1 $ 74.5 Foreign impact, net (5.9 ) (36.4 ) (13.9 ) Impact of U.S. Tax Reform Act (5.7 ) 115.3 — Change in valuation allowances 15.7 73.6 14.2 State and local income taxes, net 3.7 4.9 4.9 Other, net 6.4 9.2 (2.3 ) Total $ 51.2 $ 258.7 $ 77.4 Effective tax rate 29.1 % 98.4 % 36.3 %
Schedule of Deferred Tax Assets and Liabilities	Significant components of the consolidated deferred tax assets and liabilities were: December 31, 2018 2017 (Amounts in thousands) Deferred tax assets related to: Retirement benefits $ 26,496 $ 28,519 Net operating loss carryforwards 92,630 73,465 Compensation accruals 25,993 24,030 Inventories 25,553 30,870 Credit carryforwards 16,056 8,910 Warranty and accrued liabilities 2,763 16,005 Bad debt reserve 28,194 30,698 Other 32,253 40,859 Total deferred tax assets 249,938 253,356 Valuation allowances (133,929 ) (119,309 ) Net deferred tax assets 116,009 134,047 Deferred tax liabilities related to: Property, plant and equipment (18,773 ) (24,204 ) Goodwill and intangibles (123,692 ) (123,036 ) Non-U.S. undistributed earnings taxes (70,331 ) (75,442 ) Other (17,935 ) (15,667 ) Total deferred tax liabilities (230,731 ) (238,349 ) Deferred tax liabilities, net $ (114,722 ) $ (104,302 )
Schedule of Earnings Before Income Tax	Earnings before income taxes comprised: Year Ended December 31, 2018 2017 2016 (Amounts in thousands) U.S. $ 88,674 $ 102,372 $ 170,681 Non-U.S. 87,600 160,635 42,231 Total $ 176,274 $ 263,007 $ 212,912
Reconciliation of Unrecognized Tax Benefits	A tabular reconciliation of the total gross amount of unrecognized tax benefits, excluding interest and penalties, is as follows (in millions): 2018 2017 2016 Balance — January 1 $ 51.5 $ 59.3 $ 56.1 Gross amount of (decrease) increase in unrecognized tax benefits resulting from tax positions taken: During a prior year (6.6 ) (3.5 ) 1.9 During the current period 4.0 5.5 14.3 Decreases in unrecognized tax benefits relating to: Settlements with taxing authorities (2.7 ) (10.8 ) (4.0 ) Lapse of the applicable statute of limitations (3.7 ) (3.1 ) (7.3 ) Increase (decrease) in unrecognized tax benefits relating to foreign currency translation adjustments (1.3 ) 4.1 (1.7 ) Balance — December 31 $ 41.2 $ 51.5 $ 59.3

Business Segment Information (T

Business Segment Information (Tables)	12 Months Ended
	Dec. 31, 2018
Segment Reporting [Abstract]
Summarized Financial Information of Reportable Segments	The following is a summary of the financial information of our reportable segments as of and for the years ended December 31, 2018 , 2017 and 2016 reconciled to the amounts reported in the consolidated financial statements. Subtotal—Reportable Segments Eliminations and All Other Consolidated Total EPD IPD FCD (Amounts in thousands) Year Ended December 31, 2018: Sales to external customers $1,860,489 $ 759,999 $ 1,212,178 $ 3,832,666 $ — $ 3,832,666 Intersegment sales 38,724 39,416 3,637 81,777 (81,777 ) — Segment operating income (loss) 206,894 (6,238 ) 201,216 401,872 (154,334 ) 247,538 Depreciation and amortization 42,442 25,706 26,585 94,733 17,740 112,473 Identifiable assets 1,841,132 930,433 1,268,717 4,040,282 575,995 4,616,277 Capital expenditures 34,127 6,521 14,458 55,106 28,887 83,993 Subtotal—Reportable Segments Eliminations and All Other Consolidated Total EPD IPD FCD (Amounts in thousands) Year Ended December 31, 2017: Sales to external customers $1,738,082 $ 739,656 $ 1,183,093 $ 3,660,831 $ — $ 3,660,831 Intersegment sales 37,347 35,552 5,018 77,917 (77,917 ) — Segment operating income (loss) 159,060 (48,766 ) 323,682 433,976 (92,841 ) 341,135 Depreciation and amortization 48,659 28,864 27,278 104,801 13,653 118,454 Identifiable assets 1,956,638 1,028,255 1,317,944 4,302,837 607,637 4,910,474 Capital expenditures 19,790 8,368 16,626 44,784 16,818 61,602 Subtotal—Reportable Segments Eliminations and All Other Consolidated Total EPD IPD FCD (Amounts in thousands) Year Ended December 31, 2016: Sales to external customers $ 1,963,086 $ 799,923 $ 1,227,478 $ 3,990,487 $ — $ 3,990,487 Intersegment sales 32,873 35,156 6,234 74,263 (74,263 ) — Segment operating income 171,142 (5,184 ) 202,571 368,529 (91,845 ) 276,684 Depreciation and amortization 48,957 28,824 28,189 105,970 10,782 116,752 Identifiable assets 2,082,729 1,010,107 1,310,273 4,403,109 305,814 4,708,923 Capital expenditures 29,426 17,336 26,467 73,229 16,470 89,699
Schedule of Sales and Long-lived Assets by Geographic Area	Sales and long-lived assets by geographic area are as follows: Year Ended December 31, 2018 Sales Percentage Long-Lived Assets Percentage (Amounts in thousands, except percentages) United States $ 1,525,930 39.8 % $ 323,883 40.5 % EMA(1) 1,424,498 37.2 % 280,549 35.1 % Asia(2) 539,898 14.1 % 132,667 16.6 % Other(3) 342,340 8.9 % 63,161 7.8 % Consolidated total $ 3,832,666 100.0 % $ 800,260 100.0 % Year Ended December 31, 2017 Sales Percentage Long-Lived Assets Percentage (Amounts in thousands, except percentages) United States $ 1,460,899 40.0 % $ 333,126 38.2 % EMA(1) 1,434,506 39.2 % 321,256 36.9 % Asia(2) 471,054 12.9 % 148,757 17.1 % Other(3) 294,372 7.9 % 68,379 7.8 % Consolidated total $ 3,660,831 100.0 % $ 871,518 100.0 % Year Ended December 31, 2016 Sales Percentage Long-Lived Assets Percentage (Amounts in thousands, except percentages) United States $ 1,537,779 38.5 % $ 338,038 37.2 % EMA(1) 1,541,984 38.6 % 288,903 31.8 % Asia(2) 500,424 12.5 % 144,599 15.9 % Other(3) 410,300 10.4 % 136,391 15.1 % Consolidated total $ 3,990,487 100.0 % $ 907,931 100.0 % ___________________________________ (1) "EMA" includes Europe, the Middle East and Africa. In 2018 , 2017 and 2016 , Germany accounted for approximately 7% , 10% and 10% , respectively, of consolidated long-lived assets. No other individual country within this group represents 10% or more of consolidated totals for any period presented. (2) "Asia" includes Asia and Australia. No individual country within this group represents 10% or more of consolidated totals for any period presented. (3) "Other" includes Canada and Latin America. No individual country within this group represents 10% or more of consolidated totals for any period presented.

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	12 Months Ended
	Dec. 31, 2018
Accumulated Other Comprehensive Loss [Abstract]
Schedule of Accumulated Other Comprehensive Loss	The following presents the components of accumulated other comprehensive loss (AOCL), net of related tax effects: 2018 2017 (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 $ (384,779 ) $ (115,755 ) $ (1,090 ) $ (501,624 ) $ (483,609 ) $ (136,530 ) $ (1,238 ) $ (621,377 ) Other comprehensive (loss) income before reclassifications (63,146 ) (12,022 ) 232 (74,936 ) 98,308 12,557 125 110,990 Amounts reclassified from AOCL — 7,130 — 7,130 522 8,218 23 8,763 Net current-period other comprehensive (loss) income (63,146 ) (4,892 ) 232 (67,806 ) 98,830 20,775 148 119,753 Balance - December 31 $ (447,925 ) $ (120,647 ) $ (858 ) $ (569,430 ) $ (384,779 ) $ (115,755 ) $ (1,090 ) $ (501,624 ) _______________________________________ (1) Includes foreign currency translation adjustments attributable to noncontrolling interests of $4.5 million , $3.8 million and $3.4 million for December 31, 2018 , 2017 and 2016 , respectively. For the year ended December 31, 2018 , foreign currency translation impacts primarily represented the weakening of the Euro, Argentinian peso, Indian rupee and British pound exchange rates versus the U.S. dollar for the period. For the year ended December 31, 2017 , foreign currency translation impacts primarily represented the weakening of the Euro, British pound and Indian rupee exchange rates versus the U.S. dollar for the period. Includes net investment hedge cumulative losses of $17.2 million and $22.5 million , net of deferred taxes, at December 31, 2018 and 2017 , respectively. Amounts in parentheses indicate debits.
Reclassifications from Accumulated Other Comprehensive Loss	The following table presents the reclassifications out of AOCL: (Amounts in thousands) Affected line item in the statement of income 2018(1) 2017(1) Foreign currency translation items Release of cumulative translation adjustments due to sale of business Gain on sale of businesses $ — $ (522 ) Tax benefit — — Net of tax $ — $ (522 ) Pension and other postretirement effects Amortization of actuarial losses(2) Other expense, net $ (9,140 ) $ (9,761 ) Prior service costs(2) Other expense, net (197 ) (108 ) Settlements and other(2) Other expense, net 983 (2,113 ) Tax benefit 1,224 3,764 Net of tax $ (7,130 ) $ (8,218 ) ______________________________________ (1) Amounts in parentheses indicate decreases to income. None of the reclassification 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 12 for additional details.

Realignment and Transformatio_2

Realignment and Transformation Programs (Tables)	12 Months Ended
	Dec. 31, 2018
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs	The following is a summary of total charges, net of adjustments, related to the Realignment Programs and Flowserve 2.0 Transformation charges: December 31, 2018 (Amounts in thousands) Engineered Product Division Industrial Product Division Flow Control Division Subtotal–Reportable Segments Eliminations and All Other Consolidated Total Restructuring Charges COS $ 14,742 $ 3,663 $ 4,370 $ 22,775 $ — $ 22,775 SG&A 1,050 803 358 2,211 38 2,249 Income tax expense(1) (1,000 ) — — (1,000 ) — (1,000 ) $ 14,792 $ 4,466 $ 4,728 $ 23,986 $ 38 $ 24,024 Non-Restructuring Charges COS $ 19,308 $ 1,764 $ (1,149 ) $ 19,923 $ — $ 19,923 SG&A 3,139 918 (652 ) 3,405 5,580 8,985 $ 22,447 $ 2,682 $ (1,801 ) $ 23,328 $ 5,580 $ 28,908 Transformation Charges SG&A $ — $ — $ — $ — $ 41,168 $ 41,168 $ — $ — $ — $ — $ 41,168 $ 41,168 Total Realignment and Transformation Charges COS $ 34,050 $ 5,427 $ 3,221 $ 42,698 $ — $ 42,698 SG&A 4,189 1,721 (294 ) 5,616 46,786 52,402 Income tax benefit(1) (1,000 ) — — (1,000 ) — (1,000 ) Total $ 37,239 $ 7,148 $ 2,927 $ 47,314 $ 46,786 $ 94,100 December 31, 2017 (Amounts in thousands) Engineered Product Division Industrial Product Division Flow Control Division Subtotal–Reportable Segments Eliminations and All Other Consolidated Total Restructuring Charges COS $ 8,101 $ 7,177 $ 8,666 $ 23,944 $ — $ 23,944 SG&A 523 1,120 (455 ) 1,188 261 1,449 Income tax expense(1) 1,000 — — 1,000 — 1,000 $ 9,624 $ 8,297 $ 8,211 $ 26,132 $ 261 $ 26,393 Non-Restructuring Charges COS 10,263 6,806 $ 2,934 $ 20,003 $ — $ 20,003 SG&A 6,853 10,191 3,325 20,369 5,490 25,859 $ 17,116 $ 16,997 $ 6,259 $ 40,372 $ 5,490 $ 45,862 Total Realignment Charges COS $ 18,364 $ 13,983 $ 11,600 $ 43,947 $ — $ 43,947 SG&A 7,376 11,311 2,870 21,557 5,751 27,308 Income tax expense(1) 1,000 — — 1,000 — 1,000 Total $ 26,740 $ 25,294 $ 14,470 $ 66,504 $ 5,751 $ 72,255 ____________________________________ (1) Income tax (benefit) expense includes exit taxes as well as non-deductible costs. The following is a summary of total inception to date charges, net of adjustments, related to the Realignment Programs: Inception to Date (Amounts in thousands) Engineered Product Division Industrial Product Division Flow Control Division Subtotal–Reportable Segments Eliminations and All Other Consolidated Total Restructuring Charges COS $ 57,554 $ 51,488 $ 27,025 $ 136,067 $ — $ 136,067 SG&A 19,390 17,520 9,455 46,365 317 46,682 Income tax expense(1) 9,400 9,300 1,800 20,500 — 20,500 $ 86,344 $ 78,308 $ 38,280 $ 202,932 $ 317 $ 203,249 Non-Restructuring Charges COS $ 45,731 $ 22,753 $ 13,718 $ 82,202 $ 8 $ 82,210 SG&A 19,985 19,319 7,512 46,816 15,502 62,318 $ 65,716 $ 42,072 $ 21,230 $ 129,018 $ 15,510 $ 144,528 Total Realignment Charges COS $ 103,285 $ 74,241 $ 40,743 $ 218,269 $ 8 $ 218,277 SG&A 39,375 36,839 16,967 93,181 15,819 109,000 Income tax expense(1) 9,400 9,300 1,800 20,500 — 20,500 Total $ 152,060 $ 120,380 $ 59,510 $ 331,950 $ 15,827 $ 347,777 ____________________________________ (1) Income tax expense includes exit taxes as well as non-deductible costs. 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, divestiture of certain non-strategic assets and inventory write-downs. Other costs generally include 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 Realignment Programs: December 31, 2018 (Amounts in thousands) Severance Contract Termination Asset Write-Downs Other Total COS $ 2,975 $ 5 $ 9,018 $ 10,777 $ 22,775 SG&A 1,875 — 12 362 2,249 Income tax expense(1) — — — (1,000 ) (1,000 ) Total $ 4,850 $ 5 $ 9,030 $ 10,139 $ 24,024 December 31, 2017 (Amounts in thousands) Severance Contract Termination Asset Write-Downs Other Total COS $ 10,241 $ 293 $ 6,400 $ 7,010 $ 23,944 SG&A (897 ) — 249 2,097 1,449 Income tax expense(1) — — — 1,000 1,000 Total $ 9,344 $ 293 $ 6,649 $ 10,107 $ 26,393 _____________________________________ (1) Income tax (benefit) expense includes exit taxes as well as non-deductible costs. The following is a summary of total inception to date restructuring charges, net of adjustments, related to the Realignment Programs: Inception to Date (Amounts in thousands) Severance Contract Termination Asset Write-Downs Other Total (1) COS $ 85,160 $ 907 $ 24,335 $ 25,665 $ 136,067 SG&A 31,745 43 1,689 13,205 46,682 Income tax expense(1) — — — 20,500 20,500 Total $ 116,905 $ 950 $ 26,024 $ 59,370 $ 203,249 _______________________________ (1) Income tax expense includes exit taxes as well as non-deductible costs.
Schedule of Restructuring Reserve by Type of Cost	The following represents the activity, primarily severance, related to the restructuring reserve for the Realignment Programs for the years ended December 31, 2018 and 2017 : (Amounts in thousands) 2018 2017 Balance at January 1, $ 39,230 $ 60,327 (2 ) Charges 15,996 18,743 Cash expenditures (28,267 ) (38,391 ) Other non-cash adjustments, including currency(1) (15,032 ) (1,449 ) Balance at December 31, $ 11,927 $ 39,230 _______________________________ (1) Includes a reduction of severance accruals associated with the divestiture of two IPD locations and associated product lines in 2018. Refer to Note 3 of this Annual Report for further discussion. (2) The reserve for the R1 Realignment Program was $12.6 million , which was substantially paid during the period.

Quarterly Financial Data (Una_2

Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2018
Quarterly Financial Data [Abstract]
Summary of the Unaudited Quarterly Data	The following presents a summary of the unaudited quarterly data for 2018 and 2017 (amounts in millions, except per share data): 2018 Quarter 4th 3rd 2nd 1st Sales $ 986.9 $ 952.7 $ 973.1 $ 920.0 Gross profit 321.8 308.5 286.1 271.4 Earnings before income taxes 78.6 44.4 28.3 25.0 Net earnings attributable to Flowserve Corporation 63.1 28.2 13.2 15.1 Earnings per share(1): Basic $ 0.48 $ 0.22 $ 0.10 $ 0.12 Diluted 0.48 0.21 0.10 0.12 2017 Quarter 4th 3rd 2nd 1st Sales $ 1,034.1 $ 883.4 $ 877.1 $ 866.3 Gross profit 304.4 267.5 245.0 268.4 Earnings before income taxes 67.0 68.4 103.0 24.6 Net (loss) earnings attributable to Flowserve Corporation (105.9 ) 47.6 41.9 19.1 (Loss) earnings per share(1): Basic $ (0.81 ) $ 0.36 $ 0.32 $ 0.15 Diluted (0.81 ) 0.36 0.32 0.15 _______________________________________ (1) Earnings per share is computed independently for each of the quarters presented. The sum of the quarters may not equal the total year amount due to the impact of changes in weighted average quarterly shares outstanding.

Significant Accounting Polici_4

Significant Accounting Policies and Accounting Developments (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Jan. 01, 2019	Jan. 01, 2018	Dec. 31, 2015
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Interest ownership for cost method accounting (percentage)										20.00%
Subsidiary sales as a percentage of consolidated sales									1.00%
Subsidiary total assets as a percentage of consolidated assets	1.00%								1.00%
Warranty obligations sales trend period (in months)									24 months
Finite-Lived Intangible Assets, Net [Abstract]
Goodwill	$ 1,197,640				$ 1,218,188				$ 1,197,640	$ 1,218,188	$ 1,205,054
Research and Development [Abstract]
Research and development costs									39,600	38,600	42,800
Stockholders' equity	1,660,780				1,670,954				1,660,780	1,670,954	1,637,388		$ 1,690,914	$ 1,664,382
Cost of sales									(2,644,830)	(2,571,878)	(2,753,689)
Gross profit	321,800	$ 308,500	$ 286,100	$ 271,400	304,400	$ 267,500	$ 245,000	$ 268,400	1,187,836	1,088,953	1,236,798
Selling, general and administrative expense									(943,714)	(901,727)	(965,376)
Operating income									247,538	341,135	276,684
Other expense, net									$ (19,569)	(21,827)	(6,439)
Minimum
Finite-Lived Intangible Assets, Net [Abstract]
Intangible asset, useful life (in years)									4 years
Maximum
Finite-Lived Intangible Assets, Net [Abstract]
Intangible asset, useful life (in years)									40 years
Accounting Standard Update 2017-07 Compensation Retirement Benefit topic 715 [Domain]
Research and Development [Abstract]
Cost of sales										3,576	5,565
Gross profit										3,576	5,565
Selling, general and administrative expense										2,137	3,154
Operating income										5,713	8,719
Other expense, net										(5,713)	(8,719)
Engineered Product Operations
Finite-Lived Intangible Assets, Net [Abstract]
Goodwill	$ 158,000				$ 159,000				$ 158,000	$ 159,000
Percentage of fair value in excess of carrying amount	60.00%				82.00%				60.00%	82.00%
Industrial Product Division
Finite-Lived Intangible Assets, Net [Abstract]
Goodwill	$ 311,000				$ 319,000				$ 311,000	$ 319,000
Percentage of fair value in excess of carrying amount	40.00%				66.00%				40.00%	66.00%
Scenario, Previously Reported | Accounting Standard Update 2017-07 Compensation Retirement Benefit topic 715 [Domain]
Research and Development [Abstract]
Cost of sales										$ (2,575,454)	(2,759,254)
Gross profit										1,085,377	1,231,233
Selling, general and administrative expense										(903,864)	(968,530)
Operating income										335,422	267,965
Other expense, net										$ (16,114)	$ 2,280
Difference between Revenue Guidance in Effect before and after Topic 606 | Accounting Standards Update 2014-09
Research and Development [Abstract]
Stockholders' equity	$ 41,978								$ 41,978				$ 19,960
Cost of sales									(45,926)
Gross profit									25,270
Selling, general and administrative expense									(1,066)
Operating income									24,204
Other expense, net									$ 2,497
Subsequent Event | Accounting Standards Update 2016-02
Research and Development [Abstract]
Cumulative effect of change on equity or net assets												$ 220,000

Significant Accounting Polici_5

Significant Accounting Policies and Accounting Developments (Estimated Useful Lives of Assets) (Details)	12 Months Ended
	Dec. 31, 2018
Buildings and improvements | Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life (in years)	10 years
Buildings and improvements | Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life (in years)	40 years
Machinery, equipment and tooling | Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life (in years)	3 years
Machinery, equipment and tooling | Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life (in years)	14 years
Software, furniture and fixtures and other | Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life (in years)	3 years
Software, furniture and fixtures and other | Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life (in years)	7 years

Significant Accounting Polici_6

Significant Accounting Policies and Accounting Developments (Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended																12 Months Ended
	Dec. 31, 2018		Sep. 30, 2018		Jun. 30, 2018		Mar. 31, 2018		Dec. 31, 2017		Sep. 30, 2017		Jun. 30, 2017		Mar. 31, 2017		Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Earnings per share:
Net earnings of Flowserve Corporation	$ 63,100		$ 28,200		$ 13,200		$ 15,100		$ (105,900)		$ 47,600		$ 41,900		$ 19,100		$ 119,671	$ 2,652	$ 132,455
Dividends on restricted shares not expected to vest																	0	0	6
Earnings attributable to common and participating shareholders																	$ 119,671	$ 2,652	$ 132,461
Weighted average shares:
Common stock (in shares)																	130,794	130,600	130,147
Participating securities (in shares)																	29	103	285
Denominator for basic earnings per common share (in shares)																	130,823	130,703	130,432
Effect of potentially dilutive securities (in shares)																	448	655	543
Denominator for diluted earnings per common share (in shares)																	131,271	131,358	130,975
Net earnings per share attributable to Flowserve Corporation common shareholders:
Basic (in dollars per share)	$ 0.48	[1]	$ 0.22	[1]	$ 0.10	[1]	$ 0.12	[1]	$ (0.81)	[1]	$ 0.36	[1]	$ 0.32	[1]	$ 0.15	[1]	$ 0.91	$ 0.02	$ 1.02
Diluted (in dollars per share)	$ 0.48	[1]	$ 0.21	[1]	$ 0.10	[1]	$ 0.12	[1]	$ (0.81)	[1]	$ 0.36	[1]	$ 0.32	[1]	$ 0.15	[1]	$ 0.91	$ 0.02	$ 1.01
[1]	Earnings per share is computed independently for each of the quarters presented. The sum of the quarters may not equal the total year amount due to the impact of changes in weighted average quarterly shares outstanding.

Revenue Recognition (Details)

Revenue Recognition (Details) - segments	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disaggregation of Revenue [Line Items]
Number of operating segments (in segments)	3
Minimum
Disaggregation of Revenue [Line Items]
Percentage of completion revenue	5.00%
Maximum
Disaggregation of Revenue [Line Items]
Percentage of completion revenue	10.00%
Transferred over Time
Disaggregation of Revenue [Line Items]
Revenue from products and services percentage	22.00%	4.00%	6.00%
Transferred at Point in Time
Disaggregation of Revenue [Line Items]
Revenue from products and services percentage	78.00%	96.00%	94.00%

Revenue Recognition (Performanc

Revenue Recognition (Performance Obligations) (Details) $ in Millions	Dec. 31, 2018USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	$ 361
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	89
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: (nil)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	$ 450

Revenue Recognition (ASC 606 Ad

Revenue Recognition (ASC 606 Adoption Impact) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Jan. 01, 2018	Dec. 31, 2015
Statement of Financial Position [Abstract]
Accounts receivable, net of allowance for doubtful accounts	$ 792,434				$ 856,711				$ 792,434	$ 856,711		$ 807,464
Contract assets, net	228,579				0				228,579	0		219,361
Inventories, net	633,871				884,273				633,871	884,273		645,700
Prepaid expenses and other	108,578				114,316				108,578	114,316		109,859
Total current assets	2,383,145				2,558,745				2,383,145	2,558,745		2,485,829
Deferred taxes	44,682				51,974				44,682	51,974		49,268
Other assets, net	190,164				199,722				190,164	199,722		201,726
Total assets	4,616,277				4,910,474				4,616,277	4,910,474	$ 4,708,923	4,836,856
Accounts payable	418,893				443,113				418,893	443,113		454,897
Accrued liabilities	391,406				724,196				391,406	724,196		433,751
Contract liabilities	202,458				0				202,458	0		178,515
Total current liabilities	1,080,975				1,242,908				1,080,975	1,242,908		1,142,762
Retirement obligations and other liabilities	459,693				496,954				459,693	496,954		503,522
Retained earnings	3,543,007				3,503,947				3,543,007	3,503,947		3,523,589
Total equity	1,660,780				1,670,954				1,660,780	1,670,954	1,637,388	1,690,914	$ 1,664,382
Total liabilities and equity	4,616,277				4,910,474				4,616,277	4,910,474		4,836,856
Income Statement [Abstract]
Sales	986,900	$ 952,700	$ 973,100	$ 920,000	1,034,100	$ 883,400	$ 877,100	$ 866,300	3,832,666	3,660,831	3,990,487
Cost of sales									(2,644,830)	(2,571,878)	(2,753,689)
Gross profit	321,800	308,500	286,100	271,400	304,400	267,500	245,000	268,400	$ 1,187,836	1,088,953	1,236,798
Gross profit margin									31.00%
Selling, general and administrative expense									$ (943,714)	(901,727)	(965,376)
(Loss) gain on sale of businesses									(7,727)	141,317	(7,664)
Net earnings from affiliates									11,143	12,592	12,926
Operating income									$ 247,538	341,135	276,684
Operating income as a percentage of sales									6.50%
Interest expense									$ (58,160)	(59,730)	(60,137)
Interest income									6,465	3,429	2,804
Other expense, net									(19,569)	(21,827)	(6,439)
Earnings before income taxes	78,600	44,400	28,300	25,000	67,000	68,400	103,000	24,600	176,274	263,007	212,912
Provision for income taxes									(51,224)	(258,679)	(77,380)
Net earnings, including noncontrolling interests									125,050	4,328	135,532
Less: Net earnings attributable to noncontrolling interests									(5,379)	(1,676)	(3,077)
Net earnings of Flowserve Corporation	63,100	$ 28,200	$ 13,200	$ 15,100	$ (105,900)	$ 47,600	$ 41,900	$ 19,100	119,671	$ 2,652	$ 132,455
Calculated under Revenue Guidance in Effect before Topic 606
Statement of Financial Position [Abstract]
Accounts receivable, net of allowance for doubtful accounts	852,055								852,055
Contract assets, net	0								0
Inventories, net	895,677								895,677
Prepaid expenses and other	121,796								121,796
Total current assets	2,489,211								2,489,211
Other assets, net	183,493								183,493
Total assets	4,715,916								4,715,916
Accounts payable	406,569								406,569
Accrued liabilities	750,505								750,505
Contract liabilities	0								0
Total current liabilities	1,225,292								1,225,292
Retained earnings	3,500,566								3,500,566
Total equity	1,618,802								1,618,802
Total liabilities and equity	4,715,916								4,715,916
Income Statement [Abstract]
Sales									3,761,470
Cost of sales									(2,598,904)
Gross profit									$ 1,162,566
Gross profit margin									30.90%
Selling, general and administrative expense									$ (942,648)
(Loss) gain on sale of businesses									(7,727)
Net earnings from affiliates									11,143
Operating income									$ 223,334
Operating income as a percentage of sales									5.90%
Interest expense									$ (58,160)
Interest income									6,465
Other expense, net									(22,066)
Earnings before income taxes									149,573
Provision for income taxes									(47,309)
Net earnings, including noncontrolling interests									102,264
Less: Net earnings attributable to noncontrolling interests									(5,379)
Net earnings of Flowserve Corporation									96,885
Difference between Revenue Guidance in Effect before and after Topic 606 | Accounting Standards Update 2014-09
Statement of Financial Position [Abstract]
Accounts receivable, net of allowance for doubtful accounts	(59,621)								(59,621)			(49,247)
Contract assets, net	228,579								228,579			219,361
Inventories, net	(261,806)								(261,806)			(238,573)
Prepaid expenses and other	(13,218)								(13,218)			(4,457)
Total current assets	(106,066)								(106,066)			(72,916)
Deferred taxes												(2,706)
Other assets, net	6,671								6,671			2,004
Total assets	(99,639)								(99,639)			(73,618)
Accounts payable	12,324								12,324			11,784
Accrued liabilities	(359,099)								(359,099)			(290,445)
Contract liabilities	202,458								202,458			178,515
Total current liabilities	(144,317)								(144,317)			(100,146)
Retirement obligations and other liabilities												6,568
Retained earnings	42,441								42,441			19,642
Total equity	41,978								41,978			19,960
Total liabilities and equity	$ (99,639)								(99,639)			$ (73,618)
Income Statement [Abstract]
Sales									71,196
Cost of sales									(45,926)
Gross profit									25,270
Selling, general and administrative expense									(1,066)
(Loss) gain on sale of businesses									0
Net earnings from affiliates									0
Operating income									24,204
Interest expense									0
Interest income									0
Other expense, net									2,497
Earnings before income taxes									26,701
Provision for income taxes									(3,915)
Net earnings, including noncontrolling interests									22,786
Less: Net earnings attributable to noncontrolling interests									0
Net earnings of Flowserve Corporation									$ 22,786

Revenue Recognition (Disaggrega

Revenue Recognition (Disaggregation of Revenue) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disaggregation of Revenue [Line Items]
Sales	$ 986,900	$ 952,700	$ 973,100	$ 920,000	$ 1,034,100	$ 883,400	$ 877,100	$ 866,300	$ 3,832,666	$ 3,660,831	$ 3,990,487
Engineered Product Division
Disaggregation of Revenue [Line Items]
Sales									1,860,489	1,738,082	1,963,086
Industrial Product Division
Disaggregation of Revenue [Line Items]
Sales									759,999	739,656	799,923
Flow Control Division
Disaggregation of Revenue [Line Items]
Sales									1,212,178	1,183,093	1,227,478
Original Equipment
Disaggregation of Revenue [Line Items]
Sales									1,936,055	1,875,942	2,194,614
Original Equipment | Engineered Product Division
Disaggregation of Revenue [Line Items]
Sales									529,005	511,060	683,871
Original Equipment | Industrial Product Division
Disaggregation of Revenue [Line Items]
Sales									463,157	457,992	534,957
Original Equipment | Flow Control Division
Disaggregation of Revenue [Line Items]
Sales									943,893	906,890	975,786
Aftermarket
Disaggregation of Revenue [Line Items]
Sales									1,896,611	1,784,889	1,795,873
Aftermarket | Engineered Product Division
Disaggregation of Revenue [Line Items]
Sales									1,331,484	1,227,022	1,279,215
Aftermarket | Industrial Product Division
Disaggregation of Revenue [Line Items]
Sales									296,842	281,664	264,966
Aftermarket | Flow Control Division
Disaggregation of Revenue [Line Items]
Sales									268,285	276,203	251,692
North America
Disaggregation of Revenue [Line Items]
Sales									1,577,953	1,446,688	1,602,407
North America | Engineered Product Division
Disaggregation of Revenue [Line Items]
Sales									715,571	667,572	795,919
North America | Industrial Product Division
Disaggregation of Revenue [Line Items]
Sales									322,066	301,841	328,026
North America | Flow Control Division
Disaggregation of Revenue [Line Items]
Sales									540,316	477,275	478,462
Latin America
Disaggregation of Revenue [Line Items]
Sales									241,781	202,184	287,675
Latin America | Engineered Product Division
Disaggregation of Revenue [Line Items]
Sales									190,605	140,418	204,123
Latin America | Industrial Product Division
Disaggregation of Revenue [Line Items]
Sales									28,771	28,559	34,112
Latin America | Flow Control Division
Disaggregation of Revenue [Line Items]
Sales									22,405	33,207	49,440
Middle East and Africa
Disaggregation of Revenue [Line Items]
Sales									467,724	511,980	548,130
Middle East and Africa | Engineered Product Division
Disaggregation of Revenue [Line Items]
Sales									280,461	301,998	320,529
Middle East and Africa | Industrial Product Division
Disaggregation of Revenue [Line Items]
Sales									49,023	54,535	58,389
Middle East and Africa | Flow Control Division
Disaggregation of Revenue [Line Items]
Sales									138,240	155,447	169,212
Asia Pacific
Disaggregation of Revenue [Line Items]
Sales									539,898	684,209	712,469
Asia Pacific | Engineered Product Division
Disaggregation of Revenue [Line Items]
Sales									408,104	351,178	351,153
Asia Pacific | Industrial Product Division
Disaggregation of Revenue [Line Items]
Sales									94,455	93,834	128,289
Asia Pacific | Flow Control Division
Disaggregation of Revenue [Line Items]
Sales									279,109	239,197	233,027
Asia location [Member]
Disaggregation of Revenue [Line Items]
Sales									781,668	471,054	500,424
Europe
Disaggregation of Revenue [Line Items]
Sales									763,540	815,770	839,806
Europe | Engineered Product Division
Disaggregation of Revenue [Line Items]
Sales									265,748	276,916	291,362
Europe | Industrial Product Division
Disaggregation of Revenue [Line Items]
Sales									265,684	260,887	251,107
Europe | Flow Control Division
Disaggregation of Revenue [Line Items]
Sales									$ 232,108	$ 277,967	$ 297,337

Revenue Recognition (Contract A

Revenue Recognition (Contract Assets and Liabilities) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Change In Contract With Customer, Asset And Liability [Roll Forward]
Contract assets, net	$ 0
Contract liabilities	0
Amounts transferred from contract assets to receivables	23,693	$ 0	$ 0
Contract assets, net	228,579	0
Contract liabilities	202,458	0
Contract Assets, net (Current)
Change In Contract With Customer, Asset And Liability [Roll Forward]
Contract Assets, net (Current)	219,361
Revenue recognized that was included in contract liabilities at the beginning of the period	0
Increase due to revenue recognized in the period in excess of billings	846,922
Increase due to billings arising during the period in excess of revenue recognized	0
Amounts transferred from contract assets to receivables	815,213
Currency effects and other, net, contract assets	22,491
Contract Assets, net (Current)	228,579	219,361
Long-term Contract Assets, net
Change In Contract With Customer, Asset And Liability [Roll Forward]
Contract assets, net	3,990
Revenue recognized that was included in contract liabilities at the beginning of the period	0
Increase due to revenue recognized in the period in excess of billings	6,668
Increase due to billings arising during the period in excess of revenue recognized	0
Amounts transferred from contract assets to receivables	2,503
Currency effects and other, net, contract assets	(2,812)
Contract assets, net	10,967	3,990
Contract Liabilities (Current)
Change In Contract With Customer, Asset And Liability [Roll Forward]
Contract liabilities	178,515
Revenue recognized that was included in contract liabilities at the beginning of the period	(123,458)
Increase due to revenue recognized in the period in excess of billings	0
Increase due to billings arising during the period in excess of revenue recognized	152,664
Amounts transferred from contract assets to receivables	0
Currency effects and other, net, contract liabilities	5,263
Contract liabilities	202,458	178,515
Long-term Contract Liabilities
Change In Contract With Customer, Asset And Liability [Roll Forward]
Long-term Contract Liabilities	1,370	$ 3,925
Revenue recognized that was included in contract liabilities at the beginning of the period	(1,360)
Increase due to revenue recognized in the period in excess of billings	0
Increase due to billings arising during the period in excess of revenue recognized	(481)
Amounts transferred from contract assets to receivables	0
Currency effects and other, net, contract liabilities	$ 714

Dispositions (Details)

Dispositions (Details) $ in Thousands, € in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2018USD ($)	Sep. 30, 2018USD ($)	Jun. 30, 2018USD ($)site	Mar. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Sep. 30, 2017USD ($)	Jun. 30, 2017USD ($)	Mar. 31, 2017USD ($)	Dec. 31, 2018USD ($)site	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2016EUR (€)	Dec. 31, 2017EUR (€)	Jul. 06, 2017USD ($)	May 02, 2017USD ($)	May 02, 2017EUR (€)
Business Acquisition [Line Items]
(Loss) gain on sale of businesses									$ (7,727)	$ 141,317	$ (7,664)
Inventory write-down									16,200	22,900	14,600
Earnings before income taxes	$ 78,600	$ 44,400	$ 28,300	$ 25,000	$ 67,000	$ 68,400	$ 103,000	$ 24,600	$ 176,274	263,007	212,912
Vogt
Business Acquisition [Line Items]
Cash received at closing														$ 28,000
Revenue from disposal groups											17,000
Earnings before income taxes											4,000
Gestra
Business Acquisition [Line Items]
(Loss) gain on sale of businesses										130,200
Cash received at closing															$ 203,600	€ 178.3
Revenue from disposal groups											101,000	€ 92
Cash at closing															$ 180,800	€ 158.3
Previous escrow amounts					$ 24,000					24,000			€ 20
Gain (loss) on disposal, net of tax										79,400
Income tax attributable to disposal group											$ 17,000	€ 15
Vogt
Business Acquisition [Line Items]
(Loss) gain on sale of businesses										11,100
Industrial Product Division
Business Acquisition [Line Items]
Divestiture of locations | site			2						2
Pre-tax impairment charge			$ 17,400						$ 25,100
(Loss) gain on sale of businesses		7,700
Inventory write-down			7,700				$ 16,900
Asset impairment charges			$ 9,700
Cash transfer from sale, net		$ 3,700
Amount of revenue attributable to product lines										$ 42,000

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets (Changes in Carrying Amount of Goodwill) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Goodwill [Roll Forward]
Balance as of	$ 1,218,188	$ 1,205,054
Dispositions		(38,780)
Currency translation and other	(20,548)	51,914
Balance as of	1,197,640	1,218,188
Engineered Product Division
Goodwill [Roll Forward]
Balance as of	482,209	473,831
Dispositions		0
Currency translation and other	(3,338)	8,378
Balance as of	478,871	482,209
Industrial Product Division
Goodwill [Roll Forward]
Balance as of	319,300	299,765
Dispositions		(1,900)
Currency translation and other	(8,032)	21,435
Balance as of	311,268	319,300
Flow Control Division
Goodwill [Roll Forward]
Balance as of	416,679	431,458
Dispositions		(36,880)
Currency translation and other	(9,178)	22,101
Balance as of	$ 407,501	$ 416,679

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets (Changes in Intangible Assets) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2010	Dec. 31, 2017
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, Ending Gross Amount	$ 286,420		$ 290,496
Finite-lived intangible assets, Accumulated Amortization	(185,536)		(173,522)
Indefinite-lived intangible assets, Ending Gross Amount	91,251		94,665
Indefinite-lived intangible assets, Accumulated Amortization	$ (1,585)		(1,590)
Minimum
Finite-Lived Intangible Assets [Line Items]
Useful Life (Years)	4 years
Maximum
Finite-Lived Intangible Assets [Line Items]
Useful Life (Years)	40 years
Engineering drawings
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, Ending Gross Amount	$ 89,796		90,442
Finite-lived intangible assets, Accumulated Amortization	$ (75,239)		(71,761)
Engineering drawings | Minimum
Finite-Lived Intangible Assets [Line Items]
Useful Life (Years)	10 years
Engineering drawings | Maximum
Finite-Lived Intangible Assets [Line Items]
Useful Life (Years)	22 years
Existing customer relationships
Finite-Lived Intangible Assets [Line Items]
Useful Life (Years)		5 years
Finite-lived intangible assets, Ending Gross Amount	$ 82,235		84,291
Finite-lived intangible assets, Accumulated Amortization	$ (47,016)		(41,279)
Existing customer relationships | Minimum
Finite-Lived Intangible Assets [Line Items]
Useful Life (Years)	5 years
Existing customer relationships | Maximum
Finite-Lived Intangible Assets [Line Items]
Useful Life (Years)	10 years
Patents
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, Ending Gross Amount	$ 26,251		26,876
Finite-lived intangible assets, Accumulated Amortization	$ (26,136)		(26,231)
Patents | Minimum
Finite-Lived Intangible Assets [Line Items]
Useful Life (Years)	9 years
Patents | Maximum
Finite-Lived Intangible Assets [Line Items]
Useful Life (Years)	16 years
Other
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, Ending Gross Amount	$ 88,138		88,887
Finite-lived intangible assets, Accumulated Amortization	$ (37,145)		$ (34,251)
Other | Minimum
Finite-Lived Intangible Assets [Line Items]
Useful Life (Years)	4 years
Other | Maximum
Finite-Lived Intangible Assets [Line Items]
Useful Life (Years)	40 years

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets (Actual and Estimated Future Amortization) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Actual for year ended December 31, 2018	$ 14,068	$ 15,300	$ 13,900
Estimated for year ended December 31, 2019	16,178
Estimated for year ended December 31, 2020	15,030
Estimated for year ended December 31, 2021	10,982
Estimated for year ended December 31, 2022	9,692
Estimated for year ended December 31, 2023	7,132
Thereafter	$ 41,874

Inventories (Details)

Inventories (Details) $ in Thousands	3 Months Ended		12 Months Ended
	Jun. 30, 2018USD ($)site	Jun. 30, 2017USD ($)	Dec. 31, 2018USD ($)site	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Jan. 01, 2018USD ($)
Components of Inventory
Raw materials			$ 310,204	$ 358,827
Work in process			191,660	548,250
Finished goods			205,814	215,849
Less: Progress billings			0	(160,044)
Less: Excess and obsolete reserve			(73,807)	(78,609)
Inventories, net			633,871	884,273		$ 645,700
Expenses due to excess and obsolete inventory			$ 16,200	$ 22,900	$ 14,600
Industrial Product Division
Components of Inventory
Expenses due to excess and obsolete inventory	$ 7,700	$ 16,900
Divestiture of locations | site	2		2

Stock-Based Compensation Plan_2

Stock-Based Compensation Plans (Disclosures by Compensation Plans) (Details) - Plan 2010 - shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2010
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized to issue under share based compensation plans		8,700,000
Common stock available under stock option plan	2,089,079
Age requirement	55 years
Time in service requirement to vest over original vesting period	10 years

Stock-Based Compensation Plan_3

Stock-Based Compensation Plans (Information Regarding Stock Options) (Details) - USD ($)	3 Months Ended	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted during period (in shares)			114,943
Grant date fair value		$ 2,000,000
Shares
Outstanding — beginning of year (in shares)		114,943	0	84,261
Granted (in shares)	0	0	114,943
Exercised (in shares)	(84,261)	0	0
Canceled (in shares)	0	0	0
Outstanding — end of year (in shares)	0	114,943	114,943	0
Exercisable — end of year (in shares)	0	0	0	0
Weighted Average Exercise Price
Outstanding — beginning of year (in dollars per share)		$ 48.63	$ 0	$ 17.42
Granted (in dollars per share)	$ 0	0	48.63
Exercised (in dollars per share)	17.42	0	0
Canceled (in dollars per share)	0	0	0
Outstanding — end of year (in dollars per share)	0	48.63	48.63	0
Exercisable — end of year (in dollars per share)	$ 0	$ 0	$ 0	$ 0
Weighted Average Remaining Contractual Life		8 years 3 months	9 years 3 months
Total intrinsic value of stock options exercised				$ 2,400,000
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
General vesting period (years)		3 years
General expiration period, from date of grant or time of termination (years)		10 years
Options granted during period (in shares)		0		0
Recognition of unearned compensation, (years)		1 year
Number of stock options vested		$ 0	$ 0	$ 0

Stock-Based Compensation Plan_4

Stock-Based Compensation Plans (Information Regarding Restricted Shares) (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unearned compensation costs	$ 24.3	$ 16.7
Recognition of unearned compensation, (years)	1 year
Fair value of Restricted Shares vested	$ 14.3	30.5	$ 38.8
Stock-based compensation expense	19.9	22.8	30.2
Related income tax benefit	(4.5)	(5.2)	(10.4)
Net stock-based compensation expense	$ 15.4	$ 17.6	$ 19.8
Shares
Outstanding — beginning of year (in shares)	1,203,852
Granted (in shares)	932,392
Vested (in shares)	(308,747)
Canceled (in shares)	(297,283)
Outstanding — ending of year (in shares)	1,530,214	1,203,852
Weighted Average Grant-Date Fair Value
Outstanding — beginning of year (in dollars per share)	$ 47.10
Granted (in dollars per share)	44.14
Vested (in dollars per share)	46.38
Canceled (in dollars per share)	49.09
Outstanding — ending of year (in dollars per share)	$ 45.06	$ 47.10
Restricted Stock | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
General expiration period, from date of grant or time of termination (years)	1 year
General vesting period (years)	1 year
Restricted Stock | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
General expiration period, from date of grant or time of termination (years)	3 years
General vesting period (years)	3 years
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
General vesting period (years)	36 months
Shares
Outstanding — ending of year (in shares)	767,000
Weighted Average Grant-Date Fair Value
Period for achieving performance targets on performance based units (years)	3 years
Maximum range of vesting provisions	1,534,000
Performance Shares | Minimum
Weighted Average Grant-Date Fair Value
Vesting percentage of grants, depending on achievement of specific performance targets	0.00%
Estimated vesting of shares based on performance shares	0
Performance Shares | Maximum
Weighted Average Grant-Date Fair Value
Vesting percentage of grants, depending on achievement of specific performance targets	200.00%
Estimated vesting of shares based on performance shares	615,000

Derivatives and Hedging Activ_3

Derivatives and Hedging Activities (Details Textual) € in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Mar. 17, 2015EUR (€)
Foreign Exchange Forward
Derivative [Line Items]
Derivative, lower remaining maturity range	4 days
Derivative, upper remaining maturity range	21 months
Not Designated as a Hedging Instrument | Foreign Exchange Forward
Derivative [Line Items]
Derivative, notional amount | $	$ 280.9	$ 235.6
2022 EUR Senior notes
Derivative [Line Items]
Designated amount, net investment hedge			€ 255.7
Debt instrument, face amount			€ 500

Derivatives and Hedging Activ_4

Derivatives and Hedging Activities (Fair Value Balance Sheet Disclosures) (Details) - Not Designated as a Hedging Instrument - Forward Exchange Contracts - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Fair value disclosues, by balance sheet location
Current derivative assets	$ 535	$ 2,489
Noncurrent derivative assets	5	177
Current derivative liabilities	3,285	284
Noncurrent derivative liabilities	$ 2	$ 56

Derivatives and Hedging Activ_5

Derivatives and Hedging Activities (Fair Value of Forward Exchange Contracts Not Designated as Hedging Instruments) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Not Designated as a Hedging Instrument | Forward Exchange Contracts
Derivative [Line Items]
(Loss) gain recognized in income	$ (3,154)	$ 2,122	$ 5,693

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Details) $ in Millions	Dec. 31, 2018USD ($)
Estimated fair value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior Notes	$ 1,362.5
Carrying value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior Notes	$ 1,364.8

Details of Certain Consolidat_3

Details of Certain Consolidated Balance Sheet Captions (Accounts Receivable, net) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Jan. 01, 2018	Dec. 31, 2017
Details of Certain Consolidated Balance Sheet Captions [Abstract]
Accounts receivable	$ 843,935		$ 915,824
Less: allowance for doubtful accounts	(51,501)		(59,113)
Accounts receivable, net	$ 792,434	$ 807,464	$ 856,711

Details of Certain Consolidat_4

Details of Certain Consolidated Balance Sheet Captions (Property, Plant and Equipment, net) (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment			$ 1,566,730	$ 1,639,829
Less: accumulated depreciation			(956,634)	(968,033)
Property, plant and equipment, net			610,096	671,796
Industrial Product Division
Property, Plant and Equipment [Line Items]
Asset impairment charges	$ 9,700
Engineered Product Division
Property, Plant and Equipment [Line Items]
Asset impairment charges		$ 26,000
Land
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment			72,701	84,551
Buildings and improvements
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment			441,006	470,354
Machinery, equipment and tooling
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment			634,838	682,316
Software, furniture and fixtures and other
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment			$ 418,185	$ 402,608

Details of Certain Consolidat_5

Details of Certain Consolidated Balance Sheet Captions (Accrued Liabilities) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Jan. 01, 2018	Dec. 31, 2017
Details of Certain Consolidated Balance Sheet Captions [Abstract]
Wages, compensation and other benefits	$ 198,311		$ 180,717
Commissions and royalties	19,673		23,240
Customer advance payments	0		273,127
Progress billings in excess of accumulated costs	0		4,411
Warranty costs and late delivery penalties	31,683		53,027
Sales and use tax	14,486		14,830
Income tax	9,865		27,862
Other	117,388		146,982
Accrued liabilities	$ 391,406	$ 433,751	$ 724,196
Other accrued liabilities maximum percentage of current liabilities	5.00%

Details of Certain Consolidat_6

Details of Certain Consolidated Balance Sheet Captions (Retirement Obligations and Other Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Jan. 01, 2018	Dec. 31, 2017
Details of Certain Consolidated Balance Sheet Captions [Abstract]
Pension and postretirement benefits	$ 183,012		$ 203,640
Deferred taxes	159,404		156,276
Legal and environmental	21,949		25,996
Uncertain tax positions and other tax liabilities	57,553		72,711
Other	37,775		38,331
Retirement obligations and other liabilities	$ 459,693	$ 503,522	$ 496,954

Equity Method Investments (Deta

Equity Method Investments (Details)	Dec. 31, 2018ventures
Schedule of Equity Method Investments [Line Items]
Number of joint ventures	7
Chile
Schedule of Equity Method Investments [Line Items]
Number of joint ventures	1
India
Schedule of Equity Method Investments [Line Items]
Number of joint ventures	1
Saudi Arabia
Schedule of Equity Method Investments [Line Items]
Number of joint ventures	1
South Korea
Schedule of Equity Method Investments [Line Items]
Number of joint ventures	1
United Arab Emirates
Schedule of Equity Method Investments [Line Items]
Number of joint ventures	1
China
Schedule of Equity Method Investments [Line Items]
Number of joint ventures	2

Debt and Lease Obligations (Deb

Debt and Lease Obligations (Debt Including Capital Lease Obligations) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Mar. 17, 2015	Nov. 01, 2013	Sep. 11, 2012
Debt Instrument [Line Items]
Long-term debt	$ 1,483,047
Capital lease obligations and other borrowings	13,541	$ 22,197
Debt and capital lease obligations	1,483,047	1,575,257
Less amounts due within one year	68,218	75,599
Total debt due after one year	$ 1,414,829	$ 1,499,658
2022 EUR Senior notes
Debt Instrument [Line Items]
Interest rate (as a percentage)	1.25%	1.25%	1.25%
Unamortized discount and debt issuance costs	$ 3,914	$ 5,335
Long-term debt	$ 569,536	$ 594,465
2023 Senior notes
Debt Instrument [Line Items]
Interest rate (as a percentage)	4.00%	4.00%		4.00%
Unamortized discount and debt issuance costs	$ 2,192	$ 2,590
Long-term debt	$ 297,808	$ 297,410
2022 Senior notes
Debt Instrument [Line Items]
Interest rate (as a percentage)	3.50%	3.50%			3.50%
Unamortized discount and debt issuance costs	$ 2,589	$ 3,230
Long-term debt	$ 497,411	$ 496,770
Term Loan
Debt Instrument [Line Items]
Interest rate (as a percentage)	4.30%	3.19%
Debt issuance costs	$ 249	$ 585
Long-term debt	$ 104,751	$ 164,415

Debt and Lease Obligations (Mat

Debt and Lease Obligations (Maturities of Debt by Type) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Long-term Debt, Fiscal Year Maturity [Abstract]
2,019	$ 68,218
2,020	50,073
2,022	1,066,948
2023 and thereafter	297,808
Total	1,483,047
Term Loan
Long-term Debt, Fiscal Year Maturity [Abstract]
2,019	60,000
2,020	44,751
2,022	0
2023 and thereafter	0
Total	104,751
Senior Notes and other debt
Long-term Debt, Fiscal Year Maturity [Abstract]
2,019	8,218
2,020	5,322
2,022	1,066,948
2023 and thereafter	297,808
Total	1,378,296
Term Loan
Long-term Debt, Fiscal Year Maturity [Abstract]
Total	$ 104,751	$ 164,415

Debt and Lease Obligations (Sen

Debt and Lease Obligations (Senior Notes) (Details)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Mar. 17, 2015EUR (€)	Nov. 01, 2013USD ($)	Sep. 11, 2012USD ($)
2022 EUR Senior notes
Debt Instrument [Line Items]
Debt instrument, face amount | €			€ 500,000,000
Interest rate (as a percentage)	1.25%	1.25%	1.25%
Price of senior notes, stated as percentage of principal amount			99.336%
Redemption price, states as percentage of principal amount	100.00%
Basis points increase over Treasury Rate upon redemption	0.25
2023 Senior notes
Debt Instrument [Line Items]
Debt instrument, face amount				$ 300,000,000
Interest rate (as a percentage)	4.00%	4.00%		4.00%
Price of senior notes, stated as percentage of principal amount				99.532%
Basis points increase over Treasury Rate upon redemption	0.25
2022 Senior notes
Debt Instrument [Line Items]
Debt instrument, face amount					$ 500,000,000
Interest rate (as a percentage)	3.50%	3.50%			3.50%
Price of senior notes, stated as percentage of principal amount					99.615%
Redemption price, states as percentage of principal amount	100.00%
Basis points increase over Treasury Rate upon redemption	0.30

Debt and Lease Obligations (S_2

Debt and Lease Obligations (Senior Credit Facility) (Details)	Oct. 14, 2015	Mar. 31, 2017	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Sep. 30, 2017USD ($)	Oct. 04, 2013USD ($)
Line of Credit Facility [Line Items]
Repayments of debt			$ 60,000,000	$ 60,000,000	$ 60,000,000
Term Loan
Line of Credit Facility [Line Items]
Debt instrument, face amount							$ 195,000,000
Repayments of debt			60,000,000	60,000,000	$ 60,000,000
Scheduled repayments due next four quarters			$ 15,000,000
Revolving Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity							$ 800,000,000
Leverage ratio		0.04
Step-down maximum			0.0375
Interest rate margin, LIBOR loans			0.00%
Interest rate margin, base rate loans			0.00%
Maximum principal amount of priority debt allowed						7.50%
Maximum amount of securitized receivable						$ 100,000,000
Amount outstanding			$ 0	0
Current borrowing capacity			513,700,000	644,800,000
Senior Credit Facility
Line of Credit Facility [Line Items]
Maturity date	Oct. 14, 2020
Letters of credit, amount outstanding			$ 92,900,000	$ 94,800,000
Commitment fee percentage			0.20%

Debt and Lease Obligations (Fut

Debt and Lease Obligations (Future Minimum Lease Payments Due) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Debt Disclosure [Abstract]
Operating leases, rent expense	$ 53,700	$ 54,900	$ 54,700
2,019	68,443
2,020	49,874
2,021	38,446
2,022	28,496
2,023	21,473
Thereafter	66,518
Total minimum lease payments	$ 273,250

Pension and Postretirement Be_3

Pension and Postretirement Benefits (Assumptions) (Details)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Postretirement Medical Benefits
Weighted average assumptions used to determine Benefit Obligations:
Discount rate	4.20%	3.48%	3.75%
Weighted average assumptions used to determine net pension expense:
Discount rate	3.48%	3.75%	4.25%
Domestic Plan
Weighted average assumptions used to determine Benefit Obligations:
Discount rate	4.34%	3.63%	4.00%
Rate of increase in compensation levels	3.50%	4.01%	4.00%
Weighted average assumptions used to determine net pension expense:
Long-term rate of return on assets	6.00%	6.00%	6.00%
Discount rate	3.63%	4.00%	4.75%
Rate of increase in compensation levels	4.01%	4.01%	4.00%
Foreign Plan
Weighted average assumptions used to determine Benefit Obligations:
Discount rate	2.42%	2.25%	2.34%
Rate of increase in compensation levels	3.28%	3.25%	3.22%
Weighted average assumptions used to determine net pension expense:
Long-term rate of return on assets	3.62%	3.88%	4.68%
Discount rate	2.25%	2.34%	3.13%
Rate of increase in compensation levels	3.25%	3.22%	3.61%

Pension and Postretirement Be_4

Pension and Postretirement Benefits (Details Textual) $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)plan	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Defined Benefit Plan Disclosure [Line Items]
Defined contribution plan expense	$ 18,700	$ 17,700	$ 17,200
Postretirement Medical Benefits
Defined Benefit Plan Disclosure [Line Items]
Discount rate	4.20%	3.48%	3.75%
Prior service cost to be amortized from accumulated other comprehensive loss next year	$ 100
Estimated net gain (loss) to be amortized from accumulated other comprehensive loss next year	(200)
Company contributions	$ 3,200	$ 2,500	$ 4,400
Assumed rate of increase in medical costs	7.00%	7.00%	7.50%
Minimum medical cost rate to be acheived	5.00%
Domestic Plan
Defined Benefit Plan Disclosure [Line Items]
Discount rate	4.34%	3.63%	4.00%
Long-term rate of return on assets	6.00%	6.00%	6.00%
MP Improvement Scale Rate (as a percent)	75.00%
Prior service cost to be amortized from accumulated other comprehensive loss next year	$ 200
Estimated net gain (loss) to be amortized from accumulated other comprehensive loss next year	(3,500)
Company contributions	23,263	$ 23,836
Domestic Plan | Minimum
Defined Benefit Plan Disclosure [Line Items]
Estimated contributions in the next year	$ 20,000
Domestic Plan | Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Plan assets, target allocation (as a percent)	43.00%	48.00%
Plan assets, actual allocation (as a percent)	43.00%	48.00%
Domestic Plan | Fixed Income
Defined Benefit Plan Disclosure [Line Items]
Plan assets, target allocation (as a percent)	57.00%	52.00%
Plan assets, actual allocation (as a percent)	56.00%	51.00%
Foreign Plan
Defined Benefit Plan Disclosure [Line Items]
Discount rate	2.42%	2.25%	2.34%
Long-term rate of return on assets	3.62%	3.88%	4.68%
Prior service cost to be amortized from accumulated other comprehensive loss next year	$ 300
Estimated net gain (loss) to be amortized from accumulated other comprehensive loss next year	(3,000)
Company contributions	21,696	$ 18,494
Estimated contributions in the next year	$ 9,000
Number of plans Non-US Assets | plan	2
Foreign Plan | Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Plan assets, target allocation (as a percent)	5.00%	6.00%
Plan assets, actual allocation (as a percent)	5.00%	6.00%
Foreign Plan | Fixed Income
Defined Benefit Plan Disclosure [Line Items]
Plan assets, target allocation (as a percent)	54.00%	53.00%
Plan assets, actual allocation (as a percent)	54.00%	53.00%
Foreign Plan | U.K. , the Netherlands and Canadian Plan Assets
Defined Benefit Plan Disclosure [Line Items]
Plan assets, actual allocation (as a percent)	100.00%

Pension and Postretirement Be_5

Pension and Postretirement Benefits (Net Benefit Costs) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Postretirement Medical Benefits
Components of the net periodic cost for retirement and postretirement benefits
Service cost	$ 0	$ 0	$ 1
Interest cost	779	919	1,154
Amortization of unrecognized net loss	(764)	(275)	(355)
Amortization of unrecognized prior service cost (benefit)	122	122	122
U.S. net pension expense	137	766	922
Domestic Plan
Components of the net periodic cost for retirement and postretirement benefits
Service cost	22,195	22,257	22,583
Interest cost	15,789	16,878	19,072
Expected return on plan assets	(25,704)	(24,505)	(23,997)
Settlement (gain) loss and other	(462)	(216)	91
Amortization of unrecognized prior service cost	164	112	488
Amortization of unrecognized net loss	5,514	6,021	4,999
Amortization of unrecognized prior service cost (benefit)	0	368
U.S. net pension expense	17,496	20,547	23,236
Foreign Plan
Components of the net periodic cost for retirement and postretirement benefits
Service cost	7,208	7,247	7,131
Interest cost	8,970	9,320	11,623
Expected return on plan assets	(8,747)	(8,834)	(10,013)
Settlement (gain) loss and other	(521)	2,434	780
Amortization of unrecognized net loss	3,626	3,741	4,751
Amortization of unrecognized prior service cost (benefit)	33	(4)	4
U.S. net pension expense	$ 10,569	$ 13,904	$ 14,276

Pension and Postretirement Be_6

Pension and Postretirement Benefits (Funded Status) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Postretirement Medical Benefits
Funded status of plan:
Benefit Obligation	$ (18,810)	$ (23,882)	$ (27,317)
Funded status	(18,810)	(23,882)
Domestic Plan
Funded status of plan:
Plan assets, at fair value	425,792	464,779	418,854
Benefit Obligation	(432,595)	(461,355)	(449,601)
Funded status	(6,803)	3,424
Foreign Plan
Funded status of plan:
Plan assets, at fair value	232,175	248,733	223,491
Benefit Obligation	(376,649)	(413,960)	$ (383,947)
Funded status	$ (144,474)	$ (165,227)

Pension and Postretirement Be_7

Pension and Postretirement Benefits (Amounts Recognized in Balance Sheet) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position [Abstract]
Noncurrent liabilities	$ (183,012)	$ (203,640)
Postretirement Medical Benefits
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position [Abstract]
Current liabilities	(2,500)	(2,952)
Noncurrent liabilities	(16,310)	(20,930)
Funded status	(18,810)	(23,882)
Domestic Plan
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position [Abstract]
Noncurrent assets	0	10,853
Current liabilities	(232)	(459)
Noncurrent liabilities	(6,571)	(6,970)
Funded status	(6,803)	3,424
Foreign Plan
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position [Abstract]
Noncurrent assets	17,864	13,908
Current liabilities	(7,782)	(8,392)
Noncurrent liabilities	(154,556)	(170,743)
Funded status	$ (144,474)	$ (165,227)

Pension and Postretirement Be_8

Pension and Postretirement Benefits (Change in Benefit Obligation) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Postretirement Medical Benefits
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Balance —	$ 23,882	$ 27,317
Service cost	0	0	$ 1
Interest cost	779	919	1,154
Actuarial loss (gain)	(2,662)	(1,818)
Benefits paid	(4,199)	(3,710)
Employee contributions	883	939
Medicare subsidies receivable	127	235
Balance —	18,810	23,882	27,317
Domestic Plan
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Balance —	461,355	449,601
Service cost	22,195	22,257	22,583
Interest cost	15,789	16,878	19,072
Plan amendments and settlements	(3,016)	(3,006)
Actuarial loss (gain)	(25,908)	9,404
Benefits paid	(37,820)	(33,779)
Balance —	432,595	461,355	449,601
Accumulated benefit obligations	431,973	461,355
Foreign Plan
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Balance —	413,960	383,947
Service cost	7,208	7,247	7,131
Interest cost	8,970	9,320	11,623
Actuarial loss (gain)	(8,839)	(1,913)
Benefits paid	(16,632)	(18,701)
Employee contributions	238	228
Settlements and other	(7,896)	(9,260)
Currency translation impact	(20,360)	43,092
Balance —	376,649	413,960	$ 383,947
Accumulated benefit obligations	$ 356,989	$ 391,102

Pension and Postretirement Be_9

Pension and Postretirement Benefits (Expected Benefit Payments) (Details) $ in Millions	Dec. 31, 2018USD ($)
Postretirement Medical Benefits
Defined Benefit Plan Disclosure [Line Items]
Expected Payment, 2019	$ 2.6
Expected Payment, 2020	2.4
Expected Payment, 2021	2.2
Expected Payment, 2022	2
Expected Payment, 2023	1.8
Expected Payment, 2024-2028	6.8
Medicare Subsidy, 2019	0.1
Medicare Subsidy, 2020	0.1
Medicare Subsidy, 2021	0.1
Medicare Subsidy, 2022	0.1
Medicare Subsidy, 2023	0.1
Medicare Subsidy, 2024-2028	0.3
Domestic Plan
Defined Benefit Plan Disclosure [Line Items]
Expected Payment, 2019	41.1
Expected Payment, 2020	42.8
Expected Payment, 2021	43.5
Expected Payment, 2022	41.4
Expected Payment, 2023	42.4
Expected Payment, 2024-2028	196.1
Foreign Plan
Defined Benefit Plan Disclosure [Line Items]
Expected Payment, 2019	15.8
Expected Payment, 2020	15.8
Expected Payment, 2021	16.6
Expected Payment, 2022	17.6
Expected Payment, 2023	17.6
Expected Payment, 2024-2028	$ 93

Pension and Postretirement B_10

Pension and Postretirement Benefits (Change in Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Postretirement Medical Benefits
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax [Abstract]
Balance —	$ 880	$ (163)
Amortization of net loss	(584)	(172)
Amortization of prior service cost	93	76
Net (loss) gain arising during the year	2,036	1,139
Prior service cost arising during the year	(122)	(122)	$ (122)
Balance —	2,425	880	(163)
Domestic Plan
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax [Abstract]
Balance —	(49,790)	(69,132)
Amortization of net loss	4,216	3,766
Amortization of prior service cost	125	70
Net (loss) gain arising during the year	(16,216)	16,009
Settlement gain	(353)	(135)
Prior service cost arising during the year	0	(368)
Balance —	(62,018)	(49,790)	(69,132)
Foreign Plan
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax [Abstract]
Balance —	(67,872)	(68,260)
Amortization of net loss	3,260	2,756
Net (loss) gain arising during the year	2,458	2,289
Prior service cost arising during the year	(33)	4	(4)
Settlement (gain) loss	(386)	1,668
Prior service (cost) benefit arising during the year	(3,080)	28
Currency translation impact and other	3,532	(6,353)
Balance —	$ (62,088)	$ (67,872)	$ (68,260)

Pension and Postretirement B_11

Pension and Postretirement Benefits (Amounts Recognized in Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Postretirement Medical Benefits
Defined Benefit Plan Disclosure [Line Items]
Unrecognized net loss	$ 3,365	$ 1,921
Unrecognized prior service cost	(940)	(1,041)
Accumulated other comprehensive loss, net of tax	2,425	880	$ (163)
Domestic Plan
Defined Benefit Plan Disclosure [Line Items]
Unrecognized net loss	(61,129)	(48,825)
Unrecognized prior service cost	(889)	(965)
Accumulated other comprehensive loss, net of tax	(62,018)	(49,790)	(69,132)
Foreign Plan
Defined Benefit Plan Disclosure [Line Items]
Unrecognized net loss	(58,697)	(67,886)
Unrecognized prior service cost	(3,391)	14
Accumulated other comprehensive loss, net of tax	$ (62,088)	$ (67,872)	$ (68,260)

Pension and Postretirement B_12

Pension and Postretirement Benefits (Plan Assets) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Domestic Plan
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	$ 464,779	$ 418,854
(Loss) return on plan assets	(21,414)	59,462
Company contributions	23,263	23,836
Benefits paid	(37,820)	(33,779)
Settlements	(3,016)	(3,594)
Ending balance	425,792	464,779
Fair value of plan assets	464,779	418,854
Domestic Plan | Hierarchial Level 1
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	5,494
Ending balance	4,778	5,494
Fair value of plan assets	5,494	5,494
Domestic Plan | Hierarchial Level 2
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	459,285
Ending balance	421,014	459,285
Fair value of plan assets	459,285	459,285
Domestic Plan | Hierarchial Level 3
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	0
Ending balance	0	0
Fair value of plan assets	0	0
Domestic Plan | Cash
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	5,494
Ending balance	4,778	5,494
Fair value of plan assets	5,494	5,494
Domestic Plan | Cash | Hierarchial Level 1
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	5,494
Ending balance	4,778	5,494
Fair value of plan assets	5,494	5,494
Domestic Plan | Cash | Hierarchial Level 2
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	0
Ending balance	0	0
Fair value of plan assets	0	0
Domestic Plan | Cash | Hierarchial Level 3
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	0
Ending balance	0	0
Fair value of plan assets	0	0
Domestic Plan | Global Equity
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	167,336
Ending balance	126,165	167,336
Fair value of plan assets	167,336	167,336
Domestic Plan | Global Equity | Hierarchial Level 1
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	0
Ending balance	0	0
Fair value of plan assets	0	0
Domestic Plan | Global Equity | Hierarchial Level 2
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	167,336
Ending balance	126,165	167,336
Fair value of plan assets	167,336	167,336
Domestic Plan | Global Equity | Hierarchial Level 3
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	0
Ending balance	0	0
Fair value of plan assets	0	0
Domestic Plan | Global Real Assets
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	55,261
Ending balance	55,046	55,261
Fair value of plan assets	55,261	55,261
Domestic Plan | Global Real Assets | Hierarchial Level 1
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	0
Ending balance	0	0
Fair value of plan assets	0	0
Domestic Plan | Global Real Assets | Hierarchial Level 2
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	55,261
Ending balance	55,046	55,261
Fair value of plan assets	55,261	55,261
Domestic Plan | Global Real Assets | Hierarchial Level 3
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	0
Ending balance	0	0
Fair value of plan assets	0	0
Domestic Plan | Diversified Credit
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	55,440
Ending balance	55,039	55,440
Fair value of plan assets	55,440	55,440
Domestic Plan | Diversified Credit | Hierarchial Level 1
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	0
Ending balance	0	0
Fair value of plan assets	0	0
Domestic Plan | Diversified Credit | Hierarchial Level 2
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	55,440
Ending balance	55,039	55,440
Fair value of plan assets	55,440	55,440
Domestic Plan | Diversified Credit | Hierarchial Level 3
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	0
Ending balance	0	0
Fair value of plan assets	0	0
Domestic Plan | Liability Driven Investment
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	181,248
Ending balance	184,764	181,248
Fair value of plan assets	181,248	181,248
Domestic Plan | Liability Driven Investment | Hierarchial Level 1
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	0
Ending balance	0	0
Fair value of plan assets	0	0
Domestic Plan | Liability Driven Investment | Hierarchial Level 2
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	181,248
Ending balance	184,764	181,248
Fair value of plan assets	181,248	181,248
Domestic Plan | Liability Driven Investment | Hierarchial Level 3
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	0
Ending balance	0	0
Fair value of plan assets	0	0
Foreign Plan
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	248,733	223,491
(Loss) return on plan assets	(580)	10,871
Company contributions	21,696	18,494
Benefits paid	(16,632)	(18,701)
Employee contributions	238	228
Settlements	(7,776)	(7,383)
Currency translation impact and other	(13,504)	21,733
Ending balance	232,175	248,733
Fair value of plan assets	248,733	223,491
Foreign Plan | Hierarchial Level 1
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	6,815
Ending balance	15,105	6,815
Fair value of plan assets	6,815	6,815
Foreign Plan | Hierarchial Level 2
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	203,306
Ending balance	180,186	203,306
Fair value of plan assets	203,306	203,306
Foreign Plan | Hierarchial Level 3
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	38,612
Ending balance	36,884	38,612
Fair value of plan assets	38,612	38,612
Foreign Plan | Cash
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	6,815
Ending balance	15,105	6,815
Fair value of plan assets	6,815	6,815
Foreign Plan | Cash | Hierarchial Level 1
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	6,815
Ending balance	15,105	6,815
Fair value of plan assets	6,815	6,815
Foreign Plan | Cash | Hierarchial Level 2
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	0
Ending balance	0	0
Fair value of plan assets	0	0
Foreign Plan | Cash | Hierarchial Level 3
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	0
Ending balance	0	0
Fair value of plan assets	0	0
Foreign Plan | Global Equity
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	8,951
Ending balance	4,648	8,951
Fair value of plan assets	8,951	8,951
Foreign Plan | Global Equity | Hierarchial Level 1
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	0
Ending balance	0	0
Fair value of plan assets	0	0
Foreign Plan | Global Equity | Hierarchial Level 2
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	8,951
Ending balance	4,648	8,951
Fair value of plan assets	8,951	8,951
Foreign Plan | Global Equity | Hierarchial Level 3
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	0
Ending balance	0	0
Fair value of plan assets	0	0
Foreign Plan | North American Companies
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	7,119
Ending balance	6,603	7,119
Fair value of plan assets	7,119	7,119
Foreign Plan | North American Companies | Hierarchial Level 1
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	0
Ending balance	0	0
Fair value of plan assets	0	0
Foreign Plan | North American Companies | Hierarchial Level 2
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	7,119
Ending balance	6,603	7,119
Fair value of plan assets	7,119	7,119
Foreign Plan | North American Companies | Hierarchial Level 3
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	0
Ending balance	0	0
Fair value of plan assets	0	0
Foreign Plan | U.K. Government Gilt Index
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	103,230
Ending balance	99,482	103,230
Fair value of plan assets	103,230	103,230
Foreign Plan | U.K. Government Gilt Index | Hierarchial Level 1
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	0
Ending balance	0	0
Fair value of plan assets	0	0
Foreign Plan | U.K. Government Gilt Index | Hierarchial Level 2
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	103,230
Ending balance	99,482	103,230
Fair value of plan assets	103,230	103,230
Foreign Plan | U.K. Government Gilt Index | Hierarchial Level 3
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	0
Ending balance	0	0
Fair value of plan assets	0	0
Foreign Plan | U.K. Corporate Bond Index
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	1,316
Ending balance	1,192	1,316
Fair value of plan assets	1,316	1,316
Foreign Plan | U.K. Corporate Bond Index | Hierarchial Level 1
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	0
Ending balance	0	0
Fair value of plan assets	0	0
Foreign Plan | U.K. Corporate Bond Index | Hierarchial Level 2
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	1,316
Ending balance	1,192	1,316
Fair value of plan assets	1,316	1,316
Foreign Plan | U.K. Corporate Bond Index | Hierarchial Level 3
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	0
Ending balance	0	0
Fair value of plan assets	0	0
Foreign Plan | Global Index Income Bond
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	5,350
Ending balance	4,110	5,350
Fair value of plan assets	5,350	5,350
Foreign Plan | Global Index Income Bond | Hierarchial Level 1
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	0
Ending balance	0	0
Fair value of plan assets	0	0
Foreign Plan | Global Index Income Bond | Hierarchial Level 2
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	5,350
Ending balance	4,110	5,350
Fair value of plan assets	5,350	5,350
Foreign Plan | Global Index Income Bond | Hierarchial Level 3
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	0
Ending balance	0	0
Fair value of plan assets	0	0
Foreign Plan | Liability Driven Investment
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	21,837
Ending balance	20,004	21,837
Fair value of plan assets	21,837	21,837
Foreign Plan | Liability Driven Investment | Hierarchial Level 1
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	0
Ending balance	0	0
Fair value of plan assets	0	0
Foreign Plan | Liability Driven Investment | Hierarchial Level 2
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	21,837
Ending balance	20,004	21,837
Fair value of plan assets	21,837	21,837
Foreign Plan | Liability Driven Investment | Hierarchial Level 3
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	0
Ending balance	0	0
Fair value of plan assets	0	0
Foreign Plan | Multi-Asset Category
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	55,503
Ending balance	44,147	55,503
Fair value of plan assets	55,503	55,503
Foreign Plan | Multi-Asset Category | Hierarchial Level 1
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	0
Ending balance	0	0
Fair value of plan assets	0	0
Foreign Plan | Multi-Asset Category | Hierarchial Level 2
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	55,503
Ending balance	44,147	55,503
Fair value of plan assets	55,503	55,503
Foreign Plan | Multi-Asset Category | Hierarchial Level 3
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	0
Ending balance	0	0
Fair value of plan assets	0	0
Foreign Plan | Buy-in Contract
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	24,484
Ending balance	23,616	24,484
Fair value of plan assets	24,484	24,484
Foreign Plan | Buy-in Contract | Hierarchial Level 1
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	0
Ending balance	0	0
Fair value of plan assets	0	0
Foreign Plan | Buy-in Contract | Hierarchial Level 2
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	0
Ending balance	0	0
Fair value of plan assets	0	0
Foreign Plan | Buy-in Contract | Hierarchial Level 3
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Ending balance	23,616
Fair value of plan assets	23,616
Foreign Plan | Other types
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	14,128
Ending balance	13,268	14,128
Fair value of plan assets	14,128	14,128
Foreign Plan | Other types | Hierarchial Level 1
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	0
Ending balance	0	0
Fair value of plan assets	0	0
Foreign Plan | Other types | Hierarchial Level 2
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	0
Ending balance	0	0
Fair value of plan assets	0	0
Foreign Plan | Other types | Hierarchial Level 3
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	14,128
Ending balance	13,268	14,128
Fair value of plan assets	$ 14,128	$ 14,128

Pension and Postretirement B_13

Pension and Postretirement Benefits (Plan Assets by Percentage Allocation) (Details)	Dec. 31, 2018	Dec. 31, 2017
Domestic Plan | Cash and Cash Equivalents
Defined Benefit Plan Disclosure [Line Items]
Plan assets, target allocation (as a percent)	0.00%	0.00%
Plan assets, actual allocation (as a percent)	1.00%	1.00%
Domestic Plan | Global Real Assets
Defined Benefit Plan Disclosure [Line Items]
Plan assets, target allocation (as a percent)	13.00%	12.00%
Plan assets, actual allocation (as a percent)	13.00%	12.00%
Domestic Plan | Global Equity
Defined Benefit Plan Disclosure [Line Items]
Plan assets, target allocation (as a percent)	30.00%	36.00%
Plan assets, actual allocation (as a percent)	30.00%	36.00%
Domestic Plan | Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Plan assets, target allocation (as a percent)	43.00%	48.00%
Plan assets, actual allocation (as a percent)	43.00%	48.00%
Domestic Plan | Diversified Credit
Defined Benefit Plan Disclosure [Line Items]
Plan assets, target allocation (as a percent)	12.00%	12.00%
Plan assets, actual allocation (as a percent)	13.00%	12.00%
Domestic Plan | Liability Driven Investment
Defined Benefit Plan Disclosure [Line Items]
Plan assets, target allocation (as a percent)	45.00%	40.00%
Plan assets, actual allocation (as a percent)	43.00%	39.00%
Domestic Plan | Fixed Income
Defined Benefit Plan Disclosure [Line Items]
Plan assets, target allocation (as a percent)	57.00%	52.00%
Plan assets, actual allocation (as a percent)	56.00%	51.00%
Foreign Plan | Cash and Cash Equivalents
Defined Benefit Plan Disclosure [Line Items]
Plan assets, target allocation (as a percent)	7.00%	3.00%
Plan assets, actual allocation (as a percent)	7.00%	3.00%
Foreign Plan | Global Equity
Defined Benefit Plan Disclosure [Line Items]
Plan assets, target allocation (as a percent)	2.00%	3.00%
Plan assets, actual allocation (as a percent)	2.00%	3.00%
Foreign Plan | Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Plan assets, target allocation (as a percent)	5.00%	6.00%
Plan assets, actual allocation (as a percent)	5.00%	6.00%
Foreign Plan | Liability Driven Investment
Defined Benefit Plan Disclosure [Line Items]
Plan assets, target allocation (as a percent)	9.00%	9.00%
Plan assets, actual allocation (as a percent)	9.00%	9.00%
Foreign Plan | Fixed Income
Defined Benefit Plan Disclosure [Line Items]
Plan assets, target allocation (as a percent)	54.00%	53.00%
Plan assets, actual allocation (as a percent)	54.00%	53.00%
Foreign Plan | North American Companies
Defined Benefit Plan Disclosure [Line Items]
Plan assets, target allocation (as a percent)	3.00%	3.00%
Plan assets, actual allocation (as a percent)	3.00%	3.00%
Foreign Plan | U.K. Government Gilt Index
Defined Benefit Plan Disclosure [Line Items]
Plan assets, target allocation (as a percent)	43.00%	41.00%
Plan assets, actual allocation (as a percent)	43.00%	41.00%
Foreign Plan | Global Index Income Bond
Defined Benefit Plan Disclosure [Line Items]
Plan assets, target allocation (as a percent)	2.00%	2.00%
Plan assets, actual allocation (as a percent)	2.00%	2.00%
Foreign Plan | U.K. Corporate Bond Index
Defined Benefit Plan Disclosure [Line Items]
Plan assets, target allocation (as a percent)	0.00%	1.00%
Plan assets, actual allocation (as a percent)	0.00%	1.00%
Foreign Plan | Multi-Asset Category
Defined Benefit Plan Disclosure [Line Items]
Plan assets, target allocation (as a percent)	19.00%	22.00%
Plan assets, actual allocation (as a percent)	19.00%	22.00%
Foreign Plan | Buy-in Contract
Defined Benefit Plan Disclosure [Line Items]
Plan assets, target allocation (as a percent)	10.00%	10.00%
Plan assets, actual allocation (as a percent)	10.00%	10.00%
Foreign Plan | Other
Defined Benefit Plan Disclosure [Line Items]
Plan assets, target allocation (as a percent)	5.00%	6.00%
Plan assets, actual allocation (as a percent)	5.00%	6.00%
Foreign Plan | Other types
Defined Benefit Plan Disclosure [Line Items]
Plan assets, target allocation (as a percent)	34.00%	38.00%
Plan assets, actual allocation (as a percent)	34.00%	38.00%

Pension and Postretirement B_14

Pension and Postretirement Benefits (Accumulated and Projected Obligations) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Retirement Benefits [Abstract]
Benefit Obligation	$ 613,441	$ 217,510
Accumulated benefit obligation	596,584	197,816
Fair value of plan assets	$ 444,929	$ 32,052

Pension and Postretirement B_15

Pension and Postretirement Benefits (Effect of One Percentage Point) (Details) - Postretirement Medical Benefits $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)
Defined Benefit Plan, Effect of One-Percentage Point Change in Assumed Health Care Cost Trend Rate [Abstract]
Effect on postretirement Benefit Obligation, 1% Increase	$ 73
Effect on postretirement Benefit Obligation, 1% Decrease	(72)
Effect on service cost plus interest cost, 1% Increase	4
Effect on service cost plus interest cost, 1% Decrease	$ (3)

Legal Matters and Contingenci_2

Legal Matters and Contingencies (Details)	Dec. 31, 2018site
Commitments and Contingencies Disclosure [Abstract]
Number of former public waste disposal sites	5

Warranty Reserve (Details)

Warranty Reserve (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Movement in Standard and Extended Product Warranty Accrual, Increase (Decrease) [Roll Forward]
Balance —	$ 33,601	$ 30,459	$ 34,574
Accruals for warranty expense, net of adjustments	28,454	35,001	28,364
Settlements made	(30,022)	(31,859)	(32,479)
Balance —	$ 32,033	$ 33,601	$ 30,459

Shareholders' Equity (Details)

Shareholders' Equity (Details) - USD ($)	Feb. 15, 2016	Feb. 14, 2016	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Nov. 13, 2014
Dividends per share (in dollars per share)	$ 0.19	$ 0.18	$ 0.76	$ 0.76	$ 0.76
Remaining authorized repurchase amount			$ 160,700,000
Share repurchase program 2015
Authorized repurchase amount						$ 500,000,000
Treasury stock, shares acquired (in shares)			0	0	0

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Current:
U.S. federal	$ 5,150	$ 59,292	$ 20,569
Non-U.S.	36,897	22,442	75,227
State and local	2,647	5,537	2,612
Total current	44,694	87,271	98,408
Deferred:
U.S. federal	11,242	135,294	22,249
Non-U.S.	(4,585)	34,626	(45,577)
State and local	(127)	1,488	2,300
Total deferred	6,530	171,408	(21,028)
Total provision	51,224	258,679	77,380
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Statutory federal income tax at 21% (35% for 2017 and 2016)	37,000	92,100	74,500
Foreign impact, net	(5,900)	(36,400)	(13,900)
Impact of U.S. Tax Reform Act	(5,700)	115,300	0
Change in valuation allowances	15,700	73,600	14,200
State and local income taxes, net	3,700	4,900	4,900
Other, net	$ 6,400	$ 9,200	$ (2,300)
Effective tax rate	29.10%	98.40%	36.30%
Deferred tax assets related to:
Retirement benefits	$ 26,496	$ 28,519
Net operating loss carryforwards	92,630	73,465
Compensation accruals	25,993	24,030
Inventories	25,553	30,870
Credit carryforwards	16,056	8,910
Warranty and accrued liabilities	2,763	16,005
Bad debt reserve	28,194	30,698
Other	32,253	40,859
Total deferred tax assets	249,938	253,356
Valuation allowances	(133,929)	(119,309)
Net deferred tax assets	116,009	134,047
Deferred tax liabilities related to:
Property, plant and equipment	(18,773)	(24,204)
Goodwill and intangibles	(123,692)	(123,036)
Non-U.S. undistributed earnings taxes	(70,331)	(75,442)
Other	(17,935)	(15,667)
Total deferred tax liabilities	230,731	238,349
Deferred tax liabilities, net	(114,722)	(104,302)
Operating loss carryforward	394,000
Earnings before income taxes comprised:
U.S.	88,674	102,372	$ 170,681
Non-U.S.	87,600	160,635	42,231
Total	176,274	263,007	212,912
Reconciliation of the total gross amount of unrecognized tax benefits, excluding interest and penalities:
Balance —	51,500	59,300	56,100
Gross amount of (decrease) increase in unrecognized tax benefits resulting from tax positions taken:
During a prior year	(6,600)	(3,500)
During a prior year			1,900
During the current period	4,000	5,500	14,300
Decreases in unrecognized tax benefits relating to:
Settlements with taxing authorities	(2,700)	(10,800)	(4,000)
Lapse of the applicable statute of limitations	(3,700)	(3,100)	(7,300)
Increase (decrease) in unrecognized tax benefits relating to foreign currency translation adjustments		4,100
Increase (decrease) in unrecognized tax benefits relating to foreign currency translation adjustments	(1,300)		(1,700)
Balance —	41,200	$ 51,500	$ 59,300
Gross unrecognized tax benefits	54,100
Gross unrecognized tax benefits, accrued interest and penalties	12,900
Unrecognized tax benefits, if recognized, would favorably impact effective tax rate	53,600
Unrecognized tax benefits minimum amount of estimated reduction within the next twelve months	16,000
State and Local Jurisdiction
Deferred tax liabilities related to:
Operating loss carryforward	42,400
Foreign Tax Authority
Deferred tax liabilities related to:
Tax credit carryforward	16,100
Tax credit carryforward, valuation allowance	$ 16,100

Business Segment Information (R

Business Segment Information (Reportable Segments) (Details) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018USD ($)	Sep. 30, 2018USD ($)	Jun. 30, 2018USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Sep. 30, 2017USD ($)	Jun. 30, 2017USD ($)	Mar. 31, 2017USD ($)	Dec. 31, 2018USD ($)segments	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Jan. 01, 2018USD ($)
Segment Reporting Information [Line Items]
Number of operating segments (in segments) | segments									3
Summarized financial information of the reportable segments
Sales to external customers	$ 986,900	$ 952,700	$ 973,100	$ 920,000	$ 1,034,100	$ 883,400	$ 877,100	$ 866,300	$ 3,832,666	$ 3,660,831	$ 3,990,487
Intersegment sales									0	0	0
Segment operating income (loss)									247,538	341,135	276,684
Depreciation and amortization									112,473	118,454	116,752
Identifiable assets	4,616,277				4,910,474				4,616,277	4,910,474	4,708,923	$ 4,836,856
Capital expenditures									83,993	61,602	89,699
Subtotal—Reportable Segments
Summarized financial information of the reportable segments
Sales to external customers									3,832,666	3,660,831	3,990,487
Intersegment sales									81,777	77,917	74,263
Segment operating income (loss)									401,872	433,976	368,529
Depreciation and amortization									94,733	104,801	105,970
Identifiable assets	4,040,282				4,302,837				4,040,282	4,302,837	4,403,109
Capital expenditures									55,106	44,784	73,229
Engineered Product Division
Summarized financial information of the reportable segments
Sales to external customers									1,860,489	1,738,082	1,963,086
Intersegment sales									38,724	37,347	32,873
Segment operating income (loss)									206,894	159,060	171,142
Depreciation and amortization									42,442	48,659	48,957
Identifiable assets	1,841,132				1,956,638				1,841,132	1,956,638	2,082,729
Capital expenditures									34,127	19,790	29,426
Industrial Product Division
Summarized financial information of the reportable segments
Sales to external customers									759,999	739,656	799,923
Intersegment sales									39,416	35,552	35,156
Segment operating income (loss)									(6,238)	(48,766)	(5,184)
Depreciation and amortization									25,706	28,864	28,824
Identifiable assets	930,433				1,028,255				930,433	1,028,255	1,010,107
Capital expenditures									6,521	8,368	17,336
Flow Control Division
Summarized financial information of the reportable segments
Sales to external customers									1,212,178	1,183,093	1,227,478
Intersegment sales									3,637	5,018	6,234
Segment operating income (loss)									201,216	323,682	202,571
Depreciation and amortization									26,585	27,278	28,189
Identifiable assets	1,268,717				1,317,944				1,268,717	1,317,944	1,310,273
Capital expenditures									14,458	16,626	26,467
Eliminations and All Other
Summarized financial information of the reportable segments
Sales to external customers									0	0	0
Intersegment sales									(81,777)	(77,917)	(74,263)
Segment operating income (loss)									(154,334)	(92,841)	(91,845)
Depreciation and amortization									17,740	13,653	10,782
Identifiable assets	$ 575,995				$ 607,637				575,995	607,637	305,814
Capital expenditures									$ 28,887	$ 16,818	$ 16,470

Business Segment Information (S

Business Segment Information (Sales and Long-lived Assets by Geographic Area) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenues from External Customers and Long-Lived Assets [Line Items]
Sales	$ 986,900	$ 952,700	$ 973,100	$ 920,000	$ 1,034,100	$ 883,400	$ 877,100	$ 866,300	$ 3,832,666	$ 3,660,831	$ 3,990,487
Percentage									100.00%	100.00%	100.00%
Long-Lived Assets	$ 800,260				$ 871,518				$ 800,260	$ 871,518	$ 907,931
Percentage	100.00%				100.00%				100.00%	100.00%	100.00%
Sales Revenue, Goods, Net | Geographic Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of net sales to international customers to total sales									63.00%	63.00%	64.00%
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Sales									$ 1,525,930	$ 1,460,899	$ 1,537,779
Percentage									39.80%	40.00%	38.50%
Long-Lived Assets	$ 323,883				$ 333,126				$ 323,883	$ 333,126	$ 338,038
Percentage	40.50%				38.20%				40.50%	38.20%	37.20%
EMA
Revenues from External Customers and Long-Lived Assets [Line Items]
Sales									$ 1,424,498	$ 1,434,506	$ 1,541,984
Percentage									37.20%	39.20%	38.60%
Long-Lived Assets	$ 280,549				$ 321,256				$ 280,549	$ 321,256	$ 288,903
Percentage	35.10%				36.90%				35.10%	36.90%	31.80%
EMA | Sales Revenue, Goods, Net | Geographic Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of net sales to international customers to total sales									10.00%
Asia location [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Sales									$ 781,668	$ 471,054	$ 500,424
Asia Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Sales									$ 539,898	$ 684,209	$ 712,469
Percentage									14.10%	12.90%	12.50%
Long-Lived Assets	$ 132,667				$ 148,757				$ 132,667	$ 148,757	$ 144,599
Percentage	16.60%				17.10%				16.60%	17.10%	15.90%
Asia Pacific | Sales Revenue, Goods, Net | Geographic Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of net sales to international customers to total sales									10.00%
Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Sales									$ 342,340	$ 294,372	$ 410,300
Percentage									8.90%	7.90%	10.40%
Long-Lived Assets	$ 63,161				$ 68,379				$ 63,161	$ 68,379	$ 136,391
Percentage	7.80%				7.80%				7.80%	7.80%	15.10%
Other | Sales Revenue, Goods, Net | Geographic Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of net sales to international customers to total sales									10.00%
Germany | Sales Revenue, Goods, Net | Geographic Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of net sales to international customers to total sales									7.00%	10.00%	10.00%

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance -				$ (501,624)				$ (621,377)	$ (501,624)	$ (621,377)
Other comprehensive (loss) income before reclassifications									(74,936)	110,990
Amounts reclassified from AOCL									7,130	8,763
Other comprehensive (loss) income									(67,806)	119,753	$ (85,843)
Balance -	$ (569,430)				$ (501,624)				(569,430)	(501,624)	(621,377)
Accumulated net gain (loss) from net investment hedge, net of tax									17,200	22,500
Net earnings of Flowserve Corporation	63,100	$ 28,200	$ 13,200	15,100	(105,900)	$ 47,600	$ 41,900	19,100	119,671	2,652	132,455
Net of tax									(7,130)	(8,763)
Foreign Currency Translation Items
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance -				(384,779)				(483,609)	(384,779)	(483,609)
Other comprehensive (loss) income before reclassifications									(63,146)	98,308
Amounts reclassified from AOCL									0	522
Other comprehensive (loss) income									(63,146)	98,830
Balance -	(447,925)				(384,779)				(447,925)	(384,779)	(483,609)
Net of tax									0	(522)
Pension and other post-retirement effects
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance -				(115,755)				(136,530)	(115,755)	(136,530)
Other comprehensive (loss) income before reclassifications									(12,022)	12,557
Amounts reclassified from AOCL									7,130	8,218
Other comprehensive (loss) income									(4,892)	20,775
Balance -	(120,647)				(115,755)				(120,647)	(115,755)	(136,530)
Amount of settlement of reclassification adjustment from accumulated other comprehensive income (loss)									983	(2,113)
Tax benefit									1,224	3,764
Net of tax									(7,130)	(8,218)
Cash flow hedging activity
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance -				$ (1,090)				$ (1,238)	(1,090)	(1,238)
Other comprehensive (loss) income before reclassifications									232	125
Amounts reclassified from AOCL									0	23
Other comprehensive (loss) income									232	148
Balance -	(858)				(1,090)				(858)	(1,090)	(1,238)
Net of tax									0	(23)
Noncontrolling Interests
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Other comprehensive (loss) income									668	438	713
Foreign currency translation adjustments, attributable to noncontrolling interest	$ 4,500				$ 3,800				4,500	3,800	$ 3,400
Accumulated Defined Benefit Plans Adjustment, Net Gain (Loss) Attributable to Parent [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Reclassification from AOCI, before tax									(9,140)	(9,761)
Accumulated Defined Benefit Plans Adjustment, Net Prior Service Attributable to Parent [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Reclassification from AOCI, before tax									(197)	(108)
Reclassification out of Accumulated Other Comprehensive Income [Member] | Foreign Currency Translation Items
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Net earnings of Flowserve Corporation									0	0
Reclassification out of Accumulated Other Comprehensive Income [Member] | Foreign Currency Translation Items
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Foreign currency transaction and translation reclassification adjustment from AOCI, realized upon sale or liquidation, before tax									$ 0	$ (522)

Realignment and Transformatio_3

Realignment and Transformation Programs (Details) $ in Thousands	3 Months Ended	12 Months Ended		48 Months Ended
	Jun. 30, 2018site	Dec. 31, 2018USD ($)site	Dec. 31, 2017USD ($)	Dec. 31, 2018USD ($)
Restructuring Cost and Reserve [Line Items]
Realignment program, approved plans		$ 360,000		$ 360,000
Restructuring Charges		24,024	$ 26,393	203,249
Non-Restructuring Charges		28,908	45,862	144,528
Transformation Charges		41,168
Realignment and Transformation Program Charges		94,100
Total Realignment Charges			72,255	347,777
Restructuring Reserve [Roll Forward]
Beginning Balance		39,230	60,327
Charges		24,024	26,393	203,249
Ending Balance		11,927	39,230	11,927
Flowserve 2.0 Transformation
Restructuring Cost and Reserve [Line Items]
Transformation Charges		41,200
R1 Realignment Program
Restructuring Reserve [Roll Forward]
Beginning Balance			12,600
Engineered Product Division
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		14,792	9,624	86,344
Non-Restructuring Charges		22,447	17,116	65,716
Realignment and Transformation Program Charges		37,239
Total Realignment Charges			26,740	152,060
Restructuring Reserve [Roll Forward]
Charges		14,792	9,624	86,344
Industrial Product Division
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		4,466	8,297	78,308
Non-Restructuring Charges		2,682	16,997	42,072
Realignment and Transformation Program Charges		7,148
Total Realignment Charges			25,294	120,380
Restructuring Reserve [Roll Forward]
Charges		$ 4,466	8,297	78,308
Divestiture of locations | site	2	2
Flow Control Division
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		$ 4,728	8,211	38,280
Non-Restructuring Charges		(1,801)	6,259	21,230
Realignment and Transformation Program Charges		2,927
Total Realignment Charges			14,470	59,510
Restructuring Reserve [Roll Forward]
Charges		4,728	8,211	38,280
Subtotal—Reportable Segments
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		23,986	26,132	202,932
Non-Restructuring Charges		23,328	40,372	129,018
Realignment and Transformation Program Charges		47,314
Total Realignment Charges			66,504	331,950
Restructuring Reserve [Roll Forward]
Charges		23,986	26,132	202,932
Eliminations and All Other
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		38	261	317
Non-Restructuring Charges		5,580	5,490	15,510
Transformation Charges		41,168
Realignment and Transformation Program Charges		46,786
Total Realignment Charges			5,751	15,827
Restructuring Reserve [Roll Forward]
Charges		38	261	317
Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		22,775	23,944	136,067
Non-Restructuring Charges		19,923	20,003	82,210
Realignment and Transformation Program Charges		42,698
Total Realignment Charges			43,947	218,277
Restructuring Reserve [Roll Forward]
Charges		22,775	23,944	136,067
Cost of Sales | Engineered Product Division
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		14,742	8,101	57,554
Non-Restructuring Charges		19,308	10,263	45,731
Realignment and Transformation Program Charges		34,050
Total Realignment Charges			18,364	103,285
Restructuring Reserve [Roll Forward]
Charges		14,742	8,101	57,554
Cost of Sales | Industrial Product Division
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		3,663	7,177	51,488
Non-Restructuring Charges		1,764	6,806	22,753
Realignment and Transformation Program Charges		5,427
Total Realignment Charges			13,983	74,241
Restructuring Reserve [Roll Forward]
Charges		3,663	7,177	51,488
Cost of Sales | Flow Control Division
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		4,370	8,666	27,025
Non-Restructuring Charges		(1,149)	2,934	13,718
Realignment and Transformation Program Charges		3,221
Total Realignment Charges			11,600	40,743
Restructuring Reserve [Roll Forward]
Charges		4,370	8,666	27,025
Cost of Sales | Subtotal—Reportable Segments
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		22,775	23,944	136,067
Non-Restructuring Charges		19,923	20,003	82,202
Realignment and Transformation Program Charges		42,698
Total Realignment Charges			43,947	218,269
Restructuring Reserve [Roll Forward]
Charges		22,775	23,944	136,067
Cost of Sales | Eliminations and All Other
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		0	0	0
Non-Restructuring Charges		0	0	8
Realignment and Transformation Program Charges		0
Total Realignment Charges			0	8
Restructuring Reserve [Roll Forward]
Charges		0	0	0
Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		2,249	1,449	46,682
Non-Restructuring Charges		8,985	25,859	62,318
Transformation Charges		41,168
Realignment and Transformation Program Charges		52,402
Total Realignment Charges			27,308	109,000
Restructuring Reserve [Roll Forward]
Charges		2,249	1,449	46,682
Selling, General and Administrative Expenses | Engineered Product Division
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		1,050	523	19,390
Non-Restructuring Charges		3,139	6,853	19,985
Realignment and Transformation Program Charges		4,189
Total Realignment Charges			7,376	39,375
Restructuring Reserve [Roll Forward]
Charges		1,050	523	19,390
Selling, General and Administrative Expenses | Industrial Product Division
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		803	1,120	17,520
Non-Restructuring Charges		918	10,191	19,319
Realignment and Transformation Program Charges		1,721
Total Realignment Charges			11,311	36,839
Restructuring Reserve [Roll Forward]
Charges		803	1,120	17,520
Selling, General and Administrative Expenses | Flow Control Division
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		358	(455)	9,455
Non-Restructuring Charges		(652)	3,325	7,512
Realignment and Transformation Program Charges		(294)
Total Realignment Charges			2,870	16,967
Restructuring Reserve [Roll Forward]
Charges		358	(455)	9,455
Selling, General and Administrative Expenses | Subtotal—Reportable Segments
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		2,211	1,188	46,365
Non-Restructuring Charges		3,405	20,369	46,816
Realignment and Transformation Program Charges		5,616
Total Realignment Charges			21,557	93,181
Restructuring Reserve [Roll Forward]
Charges		2,211	1,188	46,365
Selling, General and Administrative Expenses | Eliminations and All Other
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		38	261	317
Non-Restructuring Charges		5,580	5,490	15,502
Transformation Charges		41,168
Realignment and Transformation Program Charges		46,786
Total Realignment Charges			5,751	15,819
Restructuring Reserve [Roll Forward]
Charges		38	261	317
Income tax expense
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		(1,000)	1,000	20,500
Realignment and Transformation Program Charges		(1,000)
Total Realignment Charges			1,000	20,500
Restructuring Reserve [Roll Forward]
Charges		(1,000)	1,000	20,500
Income tax expense | Engineered Product Division
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		(1,000)	1,000	9,400
Realignment and Transformation Program Charges		(1,000)
Total Realignment Charges			1,000	9,400
Restructuring Reserve [Roll Forward]
Charges		(1,000)	1,000	9,400
Income tax expense | Industrial Product Division
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		0	0	9,300
Realignment and Transformation Program Charges		0
Total Realignment Charges			0	9,300
Restructuring Reserve [Roll Forward]
Charges		0	0	9,300
Income tax expense | Flow Control Division
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		0	0	1,800
Realignment and Transformation Program Charges		0
Total Realignment Charges			0	1,800
Restructuring Reserve [Roll Forward]
Charges		0	0	1,800
Income tax expense | Subtotal—Reportable Segments
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		(1,000)	1,000	20,500
Realignment and Transformation Program Charges		(1,000)
Total Realignment Charges			1,000	20,500
Restructuring Reserve [Roll Forward]
Charges		(1,000)	1,000	20,500
Income tax expense | Eliminations and All Other
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		0	0	0
Realignment and Transformation Program Charges		0
Total Realignment Charges			0	0
Restructuring Reserve [Roll Forward]
Charges		0	0	0
Severance
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		4,850	9,344	116,905
Restructuring Reserve [Roll Forward]
Charges		4,850	9,344	116,905
Severance | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		2,975	10,241	85,160
Restructuring Reserve [Roll Forward]
Charges		2,975	10,241	85,160
Severance | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		1,875	(897)	31,745
Restructuring Reserve [Roll Forward]
Charges		1,875	(897)	31,745
Severance | Income tax expense
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		0	0	0
Restructuring Reserve [Roll Forward]
Charges		0	0	0
Contract Termination
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		5	293	950
Restructuring Reserve [Roll Forward]
Charges		5	293	950
Contract Termination | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		5	293	907
Restructuring Reserve [Roll Forward]
Charges		5	293	907
Contract Termination | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		0	0	43
Restructuring Reserve [Roll Forward]
Charges		0	0	43
Contract Termination | Income tax expense
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		0	0	0
Restructuring Reserve [Roll Forward]
Charges		0	0	0
Asset Write-Downs
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		9,030	6,649	26,024
Restructuring Reserve [Roll Forward]
Charges		9,030	6,649	26,024
Asset Write-Downs | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		9,018	6,400	24,335
Restructuring Reserve [Roll Forward]
Charges		9,018	6,400	24,335
Asset Write-Downs | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		12	249	1,689
Restructuring Reserve [Roll Forward]
Charges		12	249	1,689
Asset Write-Downs | Income tax expense
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		0	0	0
Restructuring Reserve [Roll Forward]
Charges		0	0	0
Other
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		10,139	10,107	59,370
Restructuring Reserve [Roll Forward]
Charges		10,139	10,107	59,370
Other | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		10,777	7,010	25,665
Restructuring Reserve [Roll Forward]
Charges		10,777	7,010	25,665
Other | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		362	2,097	13,205
Restructuring Reserve [Roll Forward]
Charges		362	2,097	13,205
Other | Income tax expense
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		(1,000)	1,000	20,500
Restructuring Reserve [Roll Forward]
Charges		(1,000)	1,000	$ 20,500
Charges Expected to be Settled in Cash
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		15,996	18,743
Restructuring Reserve [Roll Forward]
Charges		15,996	18,743
Restructuring Cash Payment
Restructuring Reserve [Roll Forward]
Cash expenditures		(28,267)	(38,391)
Other Non-Cash Adjustments
Restructuring Reserve [Roll Forward]
Other non-cash adjustments, including currency		$ (15,032)	$ (1,449)

Quarterly Financial Data (Una_3

Quarterly Financial Data (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended																12 Months Ended
	Dec. 31, 2018		Sep. 30, 2018		Jun. 30, 2018		Mar. 31, 2018		Dec. 31, 2017		Sep. 30, 2017		Jun. 30, 2017		Mar. 31, 2017		Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Quarterly Financial Data [Abstract]
Sales	$ 986,900		$ 952,700		$ 973,100		$ 920,000		$ 1,034,100		$ 883,400		$ 877,100		$ 866,300		$ 3,832,666	$ 3,660,831	$ 3,990,487
Gross profit	321,800		308,500		286,100		271,400		304,400		267,500		245,000		268,400		1,187,836	1,088,953	1,236,798
Earnings before income taxes	78,600		44,400		28,300		25,000		67,000		68,400		103,000		24,600		176,274	263,007	212,912
Net earnings attributable to Flowserve Corporation	$ 63,100		$ 28,200		$ 13,200		$ 15,100		$ (105,900)		$ 47,600		$ 41,900		$ 19,100		$ 119,671	$ 2,652	$ 132,455
Earnings per share:
Basic (in dollars per share)	$ 0.48	[1]	$ 0.22	[1]	$ 0.10	[1]	$ 0.12	[1]	$ (0.81)	[1]	$ 0.36	[1]	$ 0.32	[1]	$ 0.15	[1]	$ 0.91	$ 0.02	$ 1.02
Diluted (in dollars per share)	$ 0.48	[1]	$ 0.21	[1]	$ 0.10	[1]	$ 0.12	[1]	$ (0.81)	[1]	$ 0.36	[1]	$ 0.32	[1]	$ 0.15	[1]	$ 0.91	$ 0.02	$ 1.01
[1]	Earnings per share is computed independently for each of the quarters presented. The sum of the quarters may not equal the total year amount due to the impact of changes in weighted average quarterly shares outstanding.

Schedule II - Valuation and Q_2

Schedule II - Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Additions Charged to Cost and Expenses		$ 15,700	$ 73,600	$ 14,200
Allowance for doubtful accounts
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	[1]	59,113	51,920	43,935
Additions Charged to Cost and Expenses	[1]	8,050	14,508	12,045
Additions Charged to Other Accounts— Acquisitions and Related Adjustments	[1]	0	0	0
Deductions From Reserve	[1]	(15,662)	(7,315)	(4,060)
Balance at End of Year	[1]	51,501	59,113	51,920
Deferred tax asset valuation allowance
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	[2]	119,309	36,191	24,725
Additions Charged to Cost and Expenses	[2]	32,157	86,694	12,883
Additions Charged to Other Accounts— Acquisitions and Related Adjustments	[2]	(7,551)	2,595	(67)
Deductions From Reserve	[2]	(9,986)	(6,171)	(1,350)
Balance at End of Year	[2]	$ 133,929	$ 119,309	$ 36,191
[1]	Deductions from reserve represent accounts written off and recoveries.
[2]	Deductions from reserve represent accounts written off and recoveries.

Uncategorized Items - fls-20181

Label	Element	Value
Accounting Standards Update 2016-09 [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 0
Additional Paid-in Capital [Member] | Accounting Standards Update 2016-09 [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(2,966,000)
Retained Earnings [Member] | Accounting Standards Update 2016-09 [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	2,966,000
Retained Earnings [Member] | Accounting Standards Update 2014-09 [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 19,642,000