Flowserve (FLS) 10-Q 30 Oct 19 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2019	Oct. 25, 2019
Cover page.
Entity Central Index Key	0000030625
Amendment Flag	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2019
Document Transition Report	false
Entity File Number	1-13179
Entity Registrant Name	FLOWSERVE CORP
Entity Incorporation, State or Country Code	NY
Entity Tax Identification Number	31-0267900
Entity Address, Address Line One	5215 N. O’Connor Blvd., Suite 2300,
Entity Address, City or Town	Irving,
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75039
City Area Code	972
Local Phone Number	443-6500
Title of 12(b) Security	Common Stock, $1.25 Par Value
Trading Symbol	FLS
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		130,860,148

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income Statement [Abstract]
Sales	$ 996,544	$ 952,716	$ 2,876,679	$ 2,845,798
Cost of sales	(662,855)	(644,215)	(1,930,881)	(1,979,807)
Gross profit	333,689	308,501	945,798	865,991
Selling, general and administrative expense	(226,216)	(241,878)	(655,046)	(711,845)
Loss on sale of businesses	0	(7,727)	0	(7,727)
Net earnings from affiliates	2,087	3,295	8,057	7,908
Operating income	109,560	62,191	298,809	154,327
Interest expense	(13,981)	(13,826)	(42,025)	(43,645)
Interest income	2,253	1,269	6,494	4,237
Other income (expense), net	(1,622)	(5,283)	(8,098)	(17,206)
Earnings before income taxes	96,210	44,351	255,180	97,713
Provision for income taxes	(25,647)	(14,912)	(64,646)	(37,028)
Net earnings, including noncontrolling interests	70,563	29,439	190,534	60,685
Less: Net earnings attributable to noncontrolling interests	(2,120)	(1,234)	(6,659)	(4,117)
Net earnings attributable to Flowserve Corporation	$ 68,443	$ 28,205	$ 183,875	$ 56,568
Net earnings per share attributable to Flowserve Corporation common shareholders:
Basic (in dollars per share)	$ 0.52	$ 0.22	$ 1.40	$ 0.43
Diluted (in dollars per share)	$ 0.52	$ 0.21	$ 1.40	$ 0.43

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement of Comprehensive Income [Abstract]
Net earnings, including noncontrolling interests	$ 70,563	$ 29,439	$ 190,534	$ 60,685
Other comprehensive income (loss):
Foreign currency translation adjustments, net of taxes	(30,600)	(19,669)	(26,503)	(61,217)
Pension and other postretirement effects, net of taxes	3,648	2,599	7,051	8,106
Cash flow hedging activity, net of taxes	44	52	149	177
Other comprehensive income (loss)	(26,908)	(17,018)	(19,303)	(52,934)
Comprehensive income, including noncontrolling interests	43,655	12,421	171,231	7,751
Comprehensive income attributable to noncontrolling interests	(2,055)	(1,578)	(7,258)	(5,270)
Comprehensive income attributable to Flowserve Corporation	$ 41,600	$ 10,843	$ 163,973	$ 2,481

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement of Comprehensive Income [Abstract]
Foreign currency translation, taxes	$ 852	$ 3,246	$ 2,043	$ 8,034
Pension and other postretirement effects, taxes	$ (231)	$ (311)	$ (660)	$ (898)

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 547,270	$ 619,683
Accounts receivable, net of allowance for doubtful accounts of $52,013 and $51,501, respectively	789,448	792,434
Contract assets, net	258,299	228,579
Inventories, net	687,239	633,871
Prepaid expenses and other	113,404	108,578
Total current assets	2,395,660	2,383,145
Property, plant and equipment, net of accumulated depreciation of $989,117 and $956,634, respectively	575,845	610,096
Operating lease right-of-use assets, net	182,273
Goodwill	1,178,248	1,197,640
Deferred taxes	44,113	44,682
Other intangible assets, net	182,162	190,550
Other assets, net	206,191	190,164
Total assets	4,764,492	4,616,277
Current liabilities:
Accounts payable	398,215	418,893
Accrued liabilities	385,520	391,406
Contract liabilities	219,680	202,458
Debt due within one year	9,739	68,218
Operating lease liabilities	35,042
Total current liabilities	1,048,196	1,080,975
Long-term debt due after one year	1,350,265	1,414,829
Operating lease liabilities	146,839
Retirement obligations and other liabilities	449,388	459,693
Shareholders’ equity:
Common shares, $1.25 par value, Shares authorized - 305,000, Shares issued - 176,793	220,991	220,991
Capital in excess of par value	499,930	494,551
Retained earnings	3,651,126	3,543,007
Treasury shares, at cost – 46,053 and 46,237 shares, respectively	(2,042,140)	(2,049,404)
Deferred compensation obligation	8,277	7,117
Accumulated other comprehensive loss	(593,849)	(573,947)
Total Flowserve Corporation shareholders’ equity	1,744,335	1,642,315
Noncontrolling interests	25,469	18,465
Total equity	1,769,804	1,660,780
Total liabilities and equity	$ 4,764,492	$ 4,616,277

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Current assets:
Allowance for doubtful accounts	$ 52,013	$ 51,501
Accumulated depreciation on property, plant and equipment	$ 989,117	$ 956,634
Shareholders’ equity:
Common shares, par value (in dollars per share)	$ 1.25	$ 1.25
Common shares, shares authorized (in shares)	305,000,000	305,000,000
Common shares, shares issued (in shares)	176,793,000	176,793,000
Treasury shares, shares (in shares)	46,053,000	46,237,000

Condensed Consolidated Statem_4

Condensed Consolidated Statement of Shareholders' Equity - USD ($) $ 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, 2017		176,793			46,471,000
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 (in shares)					231,000
Stock activity under stock plans	(3,368)		(13,391)		$ 10,023
Stock-based compensation	14,131		14,131
Net earnings	60,685							4,117
Cash dividends declared	(75,106)			(75,106)
Other comprehensive income (loss), net of tax	(52,934)						(54,086)	1,152
Other, net	(3,277)					671		(3,948)
Net Income (Loss) Attributable to Parent	56,568
Balance — (in shares) at Sep. 30, 2018		176,793			46,240,000
Balance — at Sep. 30, 2018	1,630,727	$ 220,991	489,066	3,505,051	$ (2,049,535)	7,025	(559,559)	17,688
Balance — (in shares) at Jun. 30, 2018		176,793			46,241,000
Balance — at Jun. 30, 2018	1,641,551	$ 220,991	483,477	3,502,006	$ (2,049,549)	6,933	(542,198)	19,891
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock activity under stock plans (in shares)					1,000
Stock activity under stock plans	(132)		(146)		$ 14
Stock-based compensation	5,735		5,735
Net earnings	29,439			28,205				1,234
Cash dividends declared	(25,160)			(25,160)
Other comprehensive income (loss), net of tax	(17,018)						(17,361)	343
Other, net	(3,688)					92		(3,780)
Net Income (Loss) Attributable to Parent	28,205
Balance — (in shares) at Sep. 30, 2018		176,793			46,240,000
Balance — at Sep. 30, 2018	$ 1,630,727	$ 220,991	489,066	3,505,051	$ (2,049,535)	7,025	(559,559)	17,688
Balance — (in shares) at Dec. 31, 2018	176,793,000	176,793			46,237,000
Balance — at Dec. 31, 2018	$ 1,660,780	$ 220,991	494,551	3,543,007	$ (2,049,404)	7,117	(573,947)	18,465
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock activity under stock plans (in shares)					298,000
Stock activity under stock plans	(3,273)		(17,129)		$ 12,696	1,160
Stock-based compensation	22,508		22,508
Net earnings	190,534							6,659
Cash dividends declared	(75,756)			(75,756)
Repurchases of common shares (in shares)					(114,000)
Repurchases of common shares	(5,432)				$ (5,432)
Other comprehensive income (loss), net of tax	(19,303)						(19,902)	599
Other, net	(254)							(254)
Net Income (Loss) Attributable to Parent	$ 183,875
Balance — (in shares) at Sep. 30, 2019	176,793,000	176,793			46,053,000
Balance — at Sep. 30, 2019	$ 1,769,804	$ 220,991	499,930	3,651,126	$ (2,042,140)	8,277	(593,849)	25,469
Balance — (in shares) at Jun. 30, 2019		176,793			45,943,000
Balance — at Jun. 30, 2019	1,749,788	$ 220,991	493,037	3,607,928	$ (2,036,857)	8,219	(567,007)	23,477
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock activity under stock plans (in shares)					4,000
Stock activity under stock plans	(53)		(260)		$ 149	58
Stock-based compensation	7,153		7,153
Net earnings	70,563			68,443				2,120
Cash dividends declared	(25,245)			(25,245)
Repurchases of common shares (in shares)					(114,000)
Repurchases of common shares	(5,432)				$ (5,432)
Other comprehensive income (loss), net of tax	(26,908)						(26,842)	(66)
Other, net	(62)							(62)
Net Income (Loss) Attributable to Parent	$ 68,443
Balance — (in shares) at Sep. 30, 2019	176,793,000	176,793			46,053,000
Balance — at Sep. 30, 2019	$ 1,769,804	$ 220,991	$ 499,930	$ 3,651,126	$ (2,042,140)	$ 8,277	$ (593,849)	$ 25,469

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Cash flows – Operating activities:
Net earnings, including noncontrolling interests	$ 190,534	$ 60,685
Adjustments to reconcile net earnings to net cash provided (used) by operating activities:
Depreciation	69,007	72,668
Amortization of intangible and other assets	10,134	12,548
Loss on disposition of businesses	0	7,727
Stock-based compensation	22,507	14,130
Foreign currency, asset impairments and other non-cash adjustments	(8,284)	31,678
Change in assets and liabilities:
Accounts receivable, net	(13,351)	(9,481)
Inventories, net	(68,695)	(46,699)
Contract assets, net	(36,325)	(54,822)
Prepaid expenses and other assets, net	3,786	(16,340)
Accounts payable	(17,889)	(29,963)
Contract liabilities	21,323	3,410
Accrued liabilities and income taxes payable	(6,407)	(13,690)
Retirement obligations and other	(27,660)	(1,480)
Net deferred taxes	5,311	(4,033)
Net cash flows provided (used) by operating activities	143,991	26,338
Cash flows – Investing activities:
Capital expenditures	(44,624)	(49,976)
Proceeds from disposal of assets and other	40,773	4,062
(Payments) proceeds from disposition of businesses	0	3,663
Net cash flows provided (used) by investing activities	(3,851)	(49,577)
Cash flows – Financing activities:
Payments on long-term debt	(105,000)	(45,000)
Proceeds from short-term financing	75,000	0
Payments on short-term financing	(75,000)	0
Proceeds under other financing arrangements	2,572	2,720
Payments under other financing arrangements	(8,903)	(9,093)
Repurchases of common shares	5,432	0
Payments related to tax withholding for stock-based compensation	(3,835)	(2,972)
Payments of dividends	(74,695)	(74,548)
Other	(251)	(4,333)
Net cash flows provided (used) by financing activities	(195,544)	(133,226)
Effect of exchange rate changes on cash	(17,009)	(17,038)
Net change in cash and cash equivalents	(72,413)	(173,503)
Cash and cash equivalents at beginning of period	619,683	703,445
Cash and cash equivalents at end of period	$ 547,270	$ 529,942

Basis of Presentation and Accou

Basis of Presentation and Accounting Policies	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Basis of Presentation and Accounting Policies	Basis of Presentation and Accounting Policies Basis of Presentation The accompanying condensed consolidated balance sheet as of September 30, 2019 , the related condensed consolidated statements of income and comprehensive income for the three and nine months ended September 30, 2019 and 2018 , the condensed consolidated statements of stockholders' equity for the three and nine months ended September 30, 2019 and 2018 and the condensed consolidated statements of cash flows for the nine months ended September 30, 2019 and 2018 of Flowserve Corporation are unaudited. In management’s opinion, all adjustments comprising normal recurring adjustments necessary for fair statement of such condensed consolidated financial statements have been made. Where applicable, prior period information has been updated to conform to current year presentation. The accompanying condensed consolidated financial statements and notes in this Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2019 ("Quarterly Report") are presented as permitted by Regulation S-X and do not contain certain information included in our annual financial statements and notes thereto. Accordingly, the accompanying condensed consolidated financial information should be read in conjunction with the audited consolidated financial statements presented in our Annual Report on Form 10-K for the year ended December 31, 2018 (" 2018 Annual Report"). Resegmentation - We have determined that there are meaningful operational synergies and benefits to combining our previously reported Engineered Product Division ("EPD") and Industrial Product Division ("IPD") segments into one reportable segment, Flowserve Pump Division ("FPD"). During the first quarter of 2019, we implemented a reorganization of our operating segments and as a result we report our financial information reflecting two operating segments, FPD and Flow Control Division ("FCD"). The reorganization of the segments reflects how our chief operating decision maker (Chief Executive Officer) regularly reviews financial information to allocate resources and assess performance. Accounting Developments Pronouncements Implemented In February 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No.2016-02, Leases (Topic 842) ("New Lease Standard"). The New Lease Standard increases transparency and comparability by requiring lessees to recognize right-of-use (“ROU”) assets and lease liabilities for operating leases on their consolidated balance sheets. Additionally, expanded disclosures are required to enable users of financial statements to understand the amount, timing and uncertainty of cash flows arising from leases. We adopted the New Lease Standard effective January 1, 2019, utilizing the modified retrospective approach and elected an initial application date of January 1, 2019. The adoption resulted in an increase to total assets and liabilities due to the recording of lease ROU assets and lease liabilities of approximately $210 million as of January 1, 2019. The adoption did not materially impact our condensed consolidated results of operations or cash flows. Refer to Note 4 for further discussion of our adoption of the New Lease Standard. 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 this ASU must be applied to annual reporting periods beginning after December 15, 2018. Our adoption of ASU No. 2017-11 effective January 1, 2019 did not have an impact on our condensed consolidated financial condition and results of operations. On August 28, 2017, the FASB issued ASU No. 2017-12, "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. Our adoption of ASU No. 2017-12 effective January 1, 2019 did not have an impact on our condensed 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. 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 elected not to reclassify the income tax effects of the Tax Cuts and Jobs Act from accumulated comprehensive income to retained earnings. 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 non-employees 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. Our adoption of ASU No. 2018-07-12 effective January 1, 2019 did not have an impact on our condensed consolidated financial condition and results of operations. Pronouncements Not Yet Implemented 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 allowances for doubtful accounts with respect to accounts receivable and contract assets. The CECL model requires that companies estimate the lifetime of an expected credit loss with respect to receivables and contract assets and record allowances that, when deducted from the balance of the receivables, represent the net amounts expected to be collected. Companies will also be required to disclose information about how the allowances were developed, 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. We are currently evaluating the impact of ASU No. 2016-13 and other related ASUs 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. 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 ASC 350-40. 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. 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. 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. Early adoption is permitted. We are currently evaluating the impact of ASU No. 2018-18 on our consolidated financial condition and results of operations.

Revenue Recognition

Revenue Recognition	9 Months Ended
	Sep. 30, 2019
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition The majority of our revenues relate to customer orders that typically contain a single commitment of goods or services which have lead times under a year. Longer lead time, more complex contracts with our customers typically have 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. 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. Our primary method for recognizing revenue over time is the percentage of completion ("POC") method. Revenue from products and services transferred to customers over time accounted for approximately 21% of total revenue for both three month periods ended September 30, 2019 and 2018 , and 18% and 22% for the nine month periods ended September 30, 2019 and 2018 , 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 79% of total revenue for both three month periods ended September 30, 2019 and 2018 , and 82% and 78% for the nine month periods ended September 30, 2019 and 2018 , respectively. Refer to Note 2 to our consolidated financial statements included in our 2018 Annual Report for a more comprehensive discussion of our policies and accounting practices of revenue recognition. Disaggregated Revenue We conduct our operations through two business segments based on the type of product and how we manage the business: • FPD for custom, highly-engineered pumps, pre-configured industrial pumps, pump systems, mechanical seals, auxiliary systems and replacement parts and related services; and • 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 two business segments generate Original Equipment and Aftermarket revenues. The following table presents our customer revenues disaggregated by revenue source: Three Months Ended September 30, 2019 (Amounts in thousands) FPD FCD Total Original Equipment $ 256,664 $ 252,282 $ 508,946 Aftermarket 426,134 61,464 487,598 $ 682,798 $ 313,746 $ 996,544 Three Months Ended September 30, 2018 FPD FCD Total Original Equipment $ 255,869 $ 239,864 $ 495,733 Aftermarket 391,429 65,554 456,983 $ 647,298 $ 305,418 $ 952,716 Nine Months Ended September 30, 2019 (Amounts in thousands) FPD FCD Total Original Equipment $ 706,092 $ 715,306 $ 1,421,398 Aftermarket 1,259,431 195,850 1,455,281 $ 1,965,523 $ 911,156 $ 2,876,679 Nine Months Ended September 30, 2018 FPD FCD Total Original Equipment $ 756,296 $ 689,331 $ 1,445,627 Aftermarket 1,202,510 197,661 1,400,171 $ 1,958,806 $ 886,992 $ 2,845,798 Our customer sales are diversified geographically. The following table presents our revenues disaggregated by geography, based on the shipping addresses of our customers: : Three Months Ended September 30, 2019 (Amounts in thousands) FPD FCD Total North America(1) $ 279,583 $ 133,881 $ 413,464 Latin America(1) 51,338 7,682 59,020 Middle East and Africa 87,982 23,721 111,703 Asia Pacific 129,047 86,787 215,834 Europe 134,848 61,675 196,523 $ 682,798 $ 313,746 $ 996,544 Three Months Ended September 30, 2018 FPD FCD Total North America(1) $ 251,503 $ 140,898 $ 392,401 Latin America(1) 76,167 4,461 80,628 Middle East and Africa 70,666 33,908 104,574 Asia Pacific 119,258 65,858 185,116 Europe 129,704 60,293 189,997 $ 647,298 $ 305,418 $ 952,716 Nine Months Ended September 30, 2019 (Amounts in thousands) FPD FCD Total North America (1) $ 797,092 $ 403,747 $ 1,200,839 Latin America(1) 134,716 23,574 158,290 Middle East and Africa 249,694 69,484 319,178 Asia Pacific 367,204 227,200 594,404 Europe 416,817 187,151 603,968 $ 1,965,523 $ 911,156 $ 2,876,679 Nine Months Ended September 30, 2018 FPD FCD Total North America (1) $ 774,602 $ 398,872 $ 1,173,474 Latin America(1) 161,344 15,454 176,798 Middle East and Africa 240,497 99,954 340,451 Asia Pacific 385,955 198,437 584,392 Europe 396,408 174,275 570,683 $ 1,958,806 $ 886,992 $ 2,845,798 _____________________________________ (1) North America represents United States and Canada; Latin America includes Mexico. On September 30, 2019 , the aggregate transaction price allocated to unsatisfied (or partially unsatisfied) performance obligations was approximately $579 million . We estimate recognition of approximately $152 million of this amount as revenue in the remainder of 2019 and an additional $427 million in 2020 and thereafter. Revenue recognized for performance obligations satisfied (or partially satisfied) in prior periods for the nine months ended September 30, 2019 and 2018 was not material. 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 receive payment under the terms of a contract. A contract liability represents our right to receive payment in advance of revenue recognized for a contract. The following table presents beginning and ending balances of contract assets and contract liabilities, current and long-term, for the nine months ended September 30, 2019 : (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, 2019 $ 228,579 10,967 $ 202,458 $ 1,370 Revenue recognized that was included in contract liabilities at the beginning of the period — — (129,621 ) — Revenue recognized in the period in excess of billings 584,784 — — — Billings arising during the period in excess of revenue recognized — — 148,552 — Amounts transferred from contract assets to receivables (544,533 ) (3,414 ) — — Currency effects and other, net (10,531 ) 539 (1,709 ) 248 Ending balance, September 30, 2019 $ 258,299 $ 8,092 $ 219,680 $ 1,618 _____________________________________ (1) Included in other assets, net.

Dispositions

Dispositions	9 Months Ended
	Sep. 30, 2019
Business Combinations [Abstract]
Dispositions	Dispositions FPD Business Divestiture On June 29, 2018, pursuant to a p lan of sale app roved by management, we executed an agreement to divest two FPD 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 cost of sales ("COS") and $9.7 million was recorded in selling, general and administrative ("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 previous two fiscal years.

Leases

Leases	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Leases	Leases We adopted the New Lease Standard effective January 1, 2019 utilizing the modified retrospective approach and have elected an initial application date of January 1, 2019. Adoption of the New Lease Standard resulted in an increase to total assets and liabilities due to the recording of lease ROU assets and lease liabilities of approximately $210 million as of January 1, 2019. Our adoption of the New Lease Standard included modification of certain accounting policies and practices, business processes, systems and controls in order to support compliance with the requirements. We elected the package of three practical expedients for transition, which include the carry forward of our leases without reassessing whether any contracts are leases or contain leases, lease classification and initial direct costs. We elected the transition practical expedient to apply hindsight when determining the lease term and when assessing impairment of ROU assets at the adoption date, which allows us to update our assessments according to new information and changes in facts and circumstances that have occurred since lease inception. We have certain land easements that have historically been accounted for as finite-lived intangible assets. We elected the practical expedient related to land easements, allowing us to carry forward our accounting treatment for land easements on existing agreements as intangible assets. Any new or modified land easements will be accounted for as leases under the New Lease Standard. Presentation of Leases We have operating and finance leases for certain manufacturing facilities, offices, service and quick response centers, machinery, equipment and automobiles. Our leases have remaining lease terms of up to 34 years . The terms and conditions of our leases may include options to extend or terminate the lease which are considered and included in the lease term when these options are reasonably certain of exercise. We determine if a contract is (or contains) a lease at inception by evaluating whether the contract conveys the right to control the use of an identified asset. For all classes of leased assets, we have elected the practical expedient to account for any non-lease components in the contract together with the related lease component in the same unit of account. For lease contracts containing more than one lease component, we allocate the contract consideration to each of the lease components on the basis of relative standalone prices in order to identify the lease payments for each lease component. ROU assets and lease liabilities are recognized in our condensed consolidated balance sheets at the commencement date based on the present value of remaining lease payments over the lease term. Additionally, ROU assets include any lease payments made at or before the commencement date, as well as any initial direct costs incurred, and are reduced by any lease incentives received. As most of our operating leases do not provide an implicit rate, we apply our incremental borrowing rate to determine the present value of remaining lease payments. Our incremental borrowing rate is determined based on information available at the commencement date of the lease. Operating leases are included in operating lease right-of-use assets, net and operating lease liabilities in our condensed consolidated balance sheets. Finance leases are included in property plant and equipment, debt due within one year and long-term debt due after one year in our condensed consolidated balance sheets. For all classes of leased assets, we have applied an accounting policy election to exclude short-term leases from recognition in our condensed consolidated balance sheets. A short-term lease has a lease term of 12 months or less at the commencement date and does not include a purchase option that is reasonably certain of exercise. We recognize short-term lease expense in our condensed consolidated income statements on a straight-line basis over the lease term. Our short-term lease expense and short-term lease commitments as of September 30, 2019 are immaterial. We have certain lease contracts with terms and conditions that provide for variability in the payment amount based on changes in facts or circumstances occurring after the commencement date. These variable lease payments are recognized in our condensed consolidated income statements as the obligation is incurred. We have certain lease contracts where we provide a guarantee to the lessor that the value of an underlying asset will be at least a specified amount at the end of the lease. Estimated amounts expected to be paid for residual value guarantees are included in lease liabilities and ROU assets. As of September 30, 2019 , we had $41.9 million of legally binding minimum lease payments for operating leases signed but not yet commenced. We did not have material subleases, leases that imposed significant restrictions or covenants, material related party leases or sale-leaseback arrangements. Other information related to our leases is as follows: September 30, (Amounts in thousands) 2019 Operating Leases: ROU assets recorded under operating leases $ 208,943 Accumulated amortization associated with operating leases (26,670 ) Total operating leases ROU assets, net $ 182,273 Liabilities recorded under operating leases (current) $ 35,042 Liabilities recorded under operating leases (non-current) 146,839 Total operating leases liabilities $ 181,881 Finance Leases: ROU assets recorded under finance leases $ 16,230 Accumulated depreciation associated with finance leases (5,015 ) Total finance leases ROU assets, net(1) $ 11,215 Total finance leases liabilities(2) $ 11,246 The costs components of operating and finance leases are as follows: (Amounts in thousands) Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 Operating Lease Costs: Fixed lease expense(3) $ 13,858 $ 43,864 Variable lease expense(3) 1,119 3,999 Total operating lease expense $ 14,977 $ 47,863 Finance Lease Costs: Depreciation of finance lease ROU assets(3) $ 993 $ 3,280 Interest on lease liabilities(4) 102 253 Total finance lease expense $ 1,095 $ 3,533 _____________________ (1) Included in property plant and equipment, net (2) Included in debt due within one year and long-term debt due after one year, accordingly (3) Included in cost of sales and selling, general and administrative expense, accordingly (4) Included in interest expense Supplemental cash flows information as of and for the nine months ended September 30, 2019 : (Amounts in thousands, except lease term and discount rate) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases(1) $ 39,642 Financing cash flows from finance leases(2) 4,177 ROU assets obtained in exchange for lease obligations: Operating leases $ 15,739 Finance leases 10,184 Weighted average remaining lease term (in years) Operating leases 9 years Finance leases 4 years Weighted average discount rate (percent) Operating leases 4.6 % Finance leases 3.7 % _____________________ (1) Included in our condensed consolidated statement of cash flows, operating activities, prepaid expenses and other assets, net and retirement obligations and other (2) Included in our condensed consolidated statement of cash flows, financing activities, payments under other financing arrangements Future undiscounted lease payments under operating and finance leases as of September 30, 2019 were as follows (amounts in thousands): Year ending December 31, Operating Leases Finance Leases 2019 (excluding the nine months ended September 30, 2019) $ 10,769 $ 1,321 2020 39,425 4,353 2021 30,498 2,854 2022 25,032 1,623 2023 21,235 850 Thereafter 95,094 945 Total future minimum lease payments $ 222,053 $ 11,946 Less: Imputed interest (40,172 ) (700 ) Total $ 181,881 $ 11,246 Other current liabilities $ 35,042 $ — Operating lease liabilities 146,839 — Debt due within one year — 4,342 Long-term debt due after one year — 6,904 Total $ 181,881 $ 11,246 The future minimum lease payments as of December 31, 2018 were as follows (amounts in thousands): Year ending December 31, 2019 $ 68,443 2020 49,874 2021 38,446 2022 28,496 2023 21,473 Thereafter 66,518 Total future minimum lease payments $ 273,250
Leases	Leases We adopted the New Lease Standard effective January 1, 2019 utilizing the modified retrospective approach and have elected an initial application date of January 1, 2019. Adoption of the New Lease Standard resulted in an increase to total assets and liabilities due to the recording of lease ROU assets and lease liabilities of approximately $210 million as of January 1, 2019. Our adoption of the New Lease Standard included modification of certain accounting policies and practices, business processes, systems and controls in order to support compliance with the requirements. We elected the package of three practical expedients for transition, which include the carry forward of our leases without reassessing whether any contracts are leases or contain leases, lease classification and initial direct costs. We elected the transition practical expedient to apply hindsight when determining the lease term and when assessing impairment of ROU assets at the adoption date, which allows us to update our assessments according to new information and changes in facts and circumstances that have occurred since lease inception. We have certain land easements that have historically been accounted for as finite-lived intangible assets. We elected the practical expedient related to land easements, allowing us to carry forward our accounting treatment for land easements on existing agreements as intangible assets. Any new or modified land easements will be accounted for as leases under the New Lease Standard. Presentation of Leases We have operating and finance leases for certain manufacturing facilities, offices, service and quick response centers, machinery, equipment and automobiles. Our leases have remaining lease terms of up to 34 years . The terms and conditions of our leases may include options to extend or terminate the lease which are considered and included in the lease term when these options are reasonably certain of exercise. We determine if a contract is (or contains) a lease at inception by evaluating whether the contract conveys the right to control the use of an identified asset. For all classes of leased assets, we have elected the practical expedient to account for any non-lease components in the contract together with the related lease component in the same unit of account. For lease contracts containing more than one lease component, we allocate the contract consideration to each of the lease components on the basis of relative standalone prices in order to identify the lease payments for each lease component. ROU assets and lease liabilities are recognized in our condensed consolidated balance sheets at the commencement date based on the present value of remaining lease payments over the lease term. Additionally, ROU assets include any lease payments made at or before the commencement date, as well as any initial direct costs incurred, and are reduced by any lease incentives received. As most of our operating leases do not provide an implicit rate, we apply our incremental borrowing rate to determine the present value of remaining lease payments. Our incremental borrowing rate is determined based on information available at the commencement date of the lease. Operating leases are included in operating lease right-of-use assets, net and operating lease liabilities in our condensed consolidated balance sheets. Finance leases are included in property plant and equipment, debt due within one year and long-term debt due after one year in our condensed consolidated balance sheets. For all classes of leased assets, we have applied an accounting policy election to exclude short-term leases from recognition in our condensed consolidated balance sheets. A short-term lease has a lease term of 12 months or less at the commencement date and does not include a purchase option that is reasonably certain of exercise. We recognize short-term lease expense in our condensed consolidated income statements on a straight-line basis over the lease term. Our short-term lease expense and short-term lease commitments as of September 30, 2019 are immaterial. We have certain lease contracts with terms and conditions that provide for variability in the payment amount based on changes in facts or circumstances occurring after the commencement date. These variable lease payments are recognized in our condensed consolidated income statements as the obligation is incurred. We have certain lease contracts where we provide a guarantee to the lessor that the value of an underlying asset will be at least a specified amount at the end of the lease. Estimated amounts expected to be paid for residual value guarantees are included in lease liabilities and ROU assets. As of September 30, 2019 , we had $41.9 million of legally binding minimum lease payments for operating leases signed but not yet commenced. We did not have material subleases, leases that imposed significant restrictions or covenants, material related party leases or sale-leaseback arrangements. Other information related to our leases is as follows: September 30, (Amounts in thousands) 2019 Operating Leases: ROU assets recorded under operating leases $ 208,943 Accumulated amortization associated with operating leases (26,670 ) Total operating leases ROU assets, net $ 182,273 Liabilities recorded under operating leases (current) $ 35,042 Liabilities recorded under operating leases (non-current) 146,839 Total operating leases liabilities $ 181,881 Finance Leases: ROU assets recorded under finance leases $ 16,230 Accumulated depreciation associated with finance leases (5,015 ) Total finance leases ROU assets, net(1) $ 11,215 Total finance leases liabilities(2) $ 11,246 The costs components of operating and finance leases are as follows: (Amounts in thousands) Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 Operating Lease Costs: Fixed lease expense(3) $ 13,858 $ 43,864 Variable lease expense(3) 1,119 3,999 Total operating lease expense $ 14,977 $ 47,863 Finance Lease Costs: Depreciation of finance lease ROU assets(3) $ 993 $ 3,280 Interest on lease liabilities(4) 102 253 Total finance lease expense $ 1,095 $ 3,533 _____________________ (1) Included in property plant and equipment, net (2) Included in debt due within one year and long-term debt due after one year, accordingly (3) Included in cost of sales and selling, general and administrative expense, accordingly (4) Included in interest expense Supplemental cash flows information as of and for the nine months ended September 30, 2019 : (Amounts in thousands, except lease term and discount rate) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases(1) $ 39,642 Financing cash flows from finance leases(2) 4,177 ROU assets obtained in exchange for lease obligations: Operating leases $ 15,739 Finance leases 10,184 Weighted average remaining lease term (in years) Operating leases 9 years Finance leases 4 years Weighted average discount rate (percent) Operating leases 4.6 % Finance leases 3.7 % _____________________ (1) Included in our condensed consolidated statement of cash flows, operating activities, prepaid expenses and other assets, net and retirement obligations and other (2) Included in our condensed consolidated statement of cash flows, financing activities, payments under other financing arrangements Future undiscounted lease payments under operating and finance leases as of September 30, 2019 were as follows (amounts in thousands): Year ending December 31, Operating Leases Finance Leases 2019 (excluding the nine months ended September 30, 2019) $ 10,769 $ 1,321 2020 39,425 4,353 2021 30,498 2,854 2022 25,032 1,623 2023 21,235 850 Thereafter 95,094 945 Total future minimum lease payments $ 222,053 $ 11,946 Less: Imputed interest (40,172 ) (700 ) Total $ 181,881 $ 11,246 Other current liabilities $ 35,042 $ — Operating lease liabilities 146,839 — Debt due within one year — 4,342 Long-term debt due after one year — 6,904 Total $ 181,881 $ 11,246 The future minimum lease payments as of December 31, 2018 were as follows (amounts in thousands): Year ending December 31, 2019 $ 68,443 2020 49,874 2021 38,446 2022 28,496 2023 21,473 Thereafter 66,518 Total future minimum lease payments $ 273,250

Stock-Based Compensation Plans

Stock-Based Compensation Plans	9 Months Ended
	Sep. 30, 2019
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation Plans	Stock-Based Compensation Plans We maintain the Flowserve Corporation Equity and Incentive Compensation Plan (the "2010 Plan"), which is a shareholder-approved plan authorizing the issuance of up to 8,700,000 shares of our common stock in the form of restricted shares, restricted share units and performance-based units (collectively referred to as "Restricted Shares"), incentive stock options, non-statutory stock options, stock appreciation rights and bonus stock. Of the 8,700,000 shares of common stock authorized under the 2010 Plan, 1,526,608 were available for issuance as of September 30, 2019 . Restricted Shares primarily vest over a three year period. Restricted Shares granted to employees who retire and have achieved at least 55 years of age and 10 years of service to continue to vest over the original vesting period ("55/10 Provision"). As of September 30, 2019 , 114,943 stock options were outstanding, with a grant date fair value of $2.0 million , recognized over three years , with remaining unearned compensation of $0.3 million . No stock options were granted or vested during the nine months ended September 30, 2019 and 2018 . Restricted Shares – Awards of Restricted Shares are valued at the closing market price of our common stock on the date of grant. The unearned compensation is amortized to compensation expense over the vesting period of the restricted shares, except for awards related to the 55/10 Provision which are expensed in the period granted. We had unearned compensation of $31.5 million and $24.3 million at September 30, 2019 and December 31, 2018 , respectively, which is expected to be recognized over a remaining weighted-average period of approximately one year . These amounts will be recognized into net earnings in prospective periods as the awards vest. The total fair value of Restricted Shares vested during the three months ended September 30, 2019 and 2018 was $0.3 million and $0.2 million , respectively. The total fair value of Restricted Shares vested during the nine months ended September 30, 2019 and 2018 was $16.5 million and $14.0 million , respectively. We recorded stock-based compensation expense of $5.5 million ( $7.2 million pre-tax) and $4.4 million ( $5.7 million pre-tax) for the three months ended September 30, 2019 and 2018 , respectively. We recorded stock-based compensation expense of $17.4 million ( $22.5 million pre-tax) and $10.9 million ( $14.1 million pre-tax) for the nine months ended September 30, 2019 and 2018 , respectively. Performance-based shares granted in 2016 did not fully vest due to the unachievement of certain performance targets, resulting in 115,302 forfeited shares and a $4.5 million reduction of stock-based compensation expense for the nine months ended September 30, 2019 . Performance-based shares granted in 2015 did not vest due to performance targets not being achieved, resulting in 100,033 forfeited shares and a $5.4 million reduction of stock-based compensation expense for the nine months ended September 30, 2018 . The following table summarizes information regarding Restricted Shares: Nine Months Ended September 30, 2019 Shares Weighted Average Grant-Date Fair Value Number of unvested shares: Outstanding - January 1, 2019 1,530,214 $ 45.06 Granted 807,439 46.91 Vested (386,306 ) 42.78 Forfeited (197,004 ) 42.32 Outstanding as of September 30, 2019 1,754,343 $ 46.72 Unvested Restricted Shares outstanding as of September 30, 2019 included approximately 687,000 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 have performance targets based on our average return on invested capital and our total shareholder return ("TSR") over a three-year period. Most unvested units were granted in three annual grants since January 1, 2017 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 1,374,000 shares based on performance targets. As of September 30, 2019 , we estimate vesting of approximately 689,000 shares based on expected achievement of performance targets.

Derivative Instruments and Hedg

Derivative Instruments and Hedges	9 Months Ended
	Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedges	Derivative Instruments and Hedges Our risk management and foreign currency derivatives and hedging policy specifies the conditions under which we may enter into derivative contracts. See Notes 1 and 7 to our consolidated financial statements included in our 2018 Annual Report and Note 8 of this Quarterly Report for additional information on our derivatives. 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 with third parties had a notional value of $377.6 million and $280.9 million at September 30, 2019 and December 31, 2018 , respectively. At September 30, 2019 , the length of foreign exchange contracts currently in place ranged from 10 days to 35 months . We are exposed to risk from credit-related losses resulting from nonperformance by counterparties to our financial instruments. We perform credit evaluations of our counterparties under foreign exchange contracts agreements 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: September 30, December 31, (Amounts in thousands) 2019 2018 Current derivative assets $ 1,787 $ 535 Noncurrent derivative assets — 5 Current derivative liabilities 4,841 3,285 Noncurrent derivative liabilities 388 2 Current and noncurrent derivative assets are reported in our condensed consolidated balance sheets in prepaid expenses and other and other assets, net, respectively. Current and noncurrent derivative liabilities are reported in our condensed consolidated balance sheets in accrued liabilities and retirement obligations and other liabilities, respectively. The impact of net changes in the fair values of foreign exchange contracts are summarized below: Three Months Ended September 30, Nine Months Ended September 30, (Amounts in thousands) 2019 2018 2019 2018 Losses recognized in income $ (1,817 ) $ (1,157 ) $ (4,511 ) $ (2,384 ) Gains and losses recognized in our condensed consolidated statements of income for foreign exchange contracts are classified as Other income (expense), net . We previously designated €255.7 million of our €500.0 million Euro senior notes discussed in Note 7 as a net investment hedge of our investments in certain of our international subsidiaries that use the Euro as their functional currency. We use the spot method to measure the effectiveness of our net investment hedge. Under this method, for each reporting period, the change in the carrying value of the Euro senior notes due to remeasurement of the effective portion is reported in accumulated other comprehensive loss on our condensed consolidated balance sheet and the remaining change in the carrying value of the ineffective portion, if any, is recognized in Other income (expense), net in our condensed consolidated statement of income. We evaluate the effectiveness of our net investment hedge on a prospective basis at the beginning of each quarter. We did not record any ineffectiveness for the nine months ended September 30, 2019 and 2018

Debt

Debt	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Debt	Debt Debt, including finance lease obligations, consisted of: September 30, December 31, (Amounts in thousands, except percentages) 2019 2018 1.25% EUR Senior Notes due March 17, 2022, net of unamortized discount and debt issuance costs of $2,867 and $3,914 $ 542,033 $ 569,536 3.50% USD Senior Notes due September 15, 2022, net of unamortized discount and debt issuance costs of $2,092 and $2,589 497,908 497,411 4.00% USD Senior Notes due November 15, 2023, net of unamortized discount and debt issuance costs of $1,882 and $2,192 298,118 297,808 Term Loan Facility, interest rate of 4.30% at December 31, 2018, net of debt issuance costs of $249 — 104,751 Finance lease obligations and other borrowings 21,945 13,541 Debt and finance lease obligations 1,360,004 1,483,047 Less amounts due within one year 9,739 68,218 Total debt due after one year $ 1,350,265 $ 1,414,829 Senior Credit Facility On July 16, 2019, we entered into a new credit agreement (“New Credit Agreement”) with Bank of America, N.A., as administrative agent, and the other lenders party thereto. The New Credit Agreement provides for a $800.0 million unsecured revolving credit facility with a maturity date of July 16, 2024 (“New Senior Credit Facility”). The New Senior Credit Facility includes a $750.0 million sublimit for the issuance of letters of credit and a $30.0 million sublimit for swing line loans. We have the right to increase the amount of the New Senior Credit Facility by an aggregate amount not to exceed $400.0 million , subject to certain conditions, including each Lender's approval providing any increase. On July 16, 2019, approximately $75.0 million was borrowed under the New Senior Credit Facility to repay all outstanding indebtedness under the then existing Senior Credit Facility. In connection with this repayment, our outstanding letters of credit under the Senior Credit Facility were transferred to the New Senior Credit Facility, and we terminated the then existing Senior Credit Facility. Subsequently, on September 16, 2019, the $75.0 million borrowed under the New Senior Credit Facility was paid in full . T he interest rates per annum applicable to the New Senior Credit Facility (other than with respect to swing line loans) are LIBOR plus between 1.000% to 1.750% , depending on our debt rating by either Moody’s Investors Service, Inc. or Standard & Poor’s ("S&P") Ratings, or, at our option, the Base Rate (as defined in the New Senior Credit Agreement) plus between 0.000% to 0.750% depending on our debt rating by either Moody’s Investors Service, Inc. or S&P Global Ratings. The initial interest rate on the New Senior Credit Facility was LIBOR plus 1.375% in the case of LIBOR loans and the Base Rate plus 0.375% in the case of Base Rate loans. In addition, a commitment fee is payable quarterly in arrears on the daily unused portions of the New Senior Credit Facility. The commitment fee will be between 0.090% and 0.300% of unused amounts under the New Senior Credit Facility depending on our debt rating by either Moody’s Investors Service, Inc. or S&P’s Ratings. The commitment fee was 0.20% (per annum) during the period ended September 30, 2019 . As of September 30, 2019 and December 31, 2018 , we had no revolving loans outstanding. We had outstanding letters of credit of $79.5 million and $92.9 million at September 30, 2019 and December 31, 2018 , respectively. The amount available for borrowings under our New Senior Credit Facility was $720.5 million at September 30, 2019 . As of December 31, 2018 , due to a financial covenant in the Senior Credit Facility, the amount available for borrowings under that facility was effectively limited to $513.7 million . Our compliance with applicable financial covenants under the New Senior Credit Facility is tested quarterly, and we complied with all applicable covenants as of September 30, 2019 .

Fair Value

Fair Value	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value	Fair Value Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Where available, fair value is based on observable market prices or parameters or derived from such prices or parameters. Where observable prices or inputs are not available, valuation models may be applied. Assets and liabilities recorded at fair value in our condensed consolidated balance sheets are categorized by hierarchical levels based upon the level of judgment associa ted with the inputs used to measure their fair values. Recurring fair value measurements are limited to investments in derivative instruments. The fair value measurements of our derivative instruments are determined using models that maximize the use of the observable market inputs including interest rate curves and both forward and spot prices for currencies, and are classified as Level II under the fair value hierarchy. The fair values of our derivatives are included in Note 6. Our financial instruments are presented at fair value in our condensed consolidated balance sheets, with the exception of our long-term debt. The estimated fair value of our long-term debt, excluding the Senior Notes, approximates the carrying value and is classified as Level II under the fair value hierarchy. The carrying value of our debt is included in Note 7. The estimated fair value of our Senior Notes at September 30, 2019 was $1,366.9 million compared to the carrying value of $1,338.1 million . The estimated fair value of the Senior Notes is based on Level I quoted market rates. The carrying amounts of our other financial instruments (e.g., cash and cash equivalents, accounts receivable, net, accounts payable and short-term debt) approximated fair value due to their short-term nature at September 30, 2019 and December 31, 2018 .

Inventories

Inventories	9 Months Ended
	Sep. 30, 2019
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories, net consisted of the following: September 30, December 31, (Amounts in thousands) 2019 2018 Raw materials $ 328,902 $ 310,204 Work in process 239,339 191,660 Finished goods 195,259 205,814 Less: Excess and obsolete reserve (76,261 ) (73,807 ) Inventories, net $ 687,239 $ 633,871

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The following is a reconciliation of net earnings of Flowserve Corporation and weighted average shares for calculating net earnings per common share. Earnings per weighted average common share outstanding was calculated as follows: Three Months Ended September 30, (Amounts in thousands, except per share data) 2019 2018 Net earnings of Flowserve Corporation $ 68,443 $ 28,205 Dividends on restricted shares not expected to vest — — Earnings attributable to common and participating shareholders $ 68,443 $ 28,205 Weighted average shares: Common stock 131,122 130,823 Participating securities 23 20 Denominator for basic earnings per common share 131,145 130,843 Effect of potentially dilutive securities 701 507 Denominator for diluted earnings per common share 131,846 131,350 Earnings per common share: Basic $ 0.52 $ 0.22 Diluted 0.52 0.21 Nine Months Ended September 30, (Amounts in thousands, except per share data) 2019 2018 Net earnings of Flowserve Corporation $ 183,875 $ 56,568 Dividends on restricted shares not expected to vest — — Earnings attributable to common and participating shareholders $ 183,875 $ 56,568 Weighted average shares: Common stock 131,070 130,784 Participating securities 22 32 Denominator for basic earnings per common share 131,092 130,816 Effect of potentially dilutive securities 605 408 Denominator for diluted earnings per common share 131,697 131,224 Earnings per common share: Basic $ 1.40 $ 0.43 Diluted 1.40 0.43

Legal Matters and Contingencies

Legal Matters and Contingencies	9 Months Ended
	Sep. 30, 2019
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 in our 2018 Annual Report, in 2016 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 and self-reported the potential violation to the United States Department of Justice (the “DOJ”) and the 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. Since that time there has not been any legal action in respect of this matter. We currently believe that this matter will not have a material adverse financial impact on the Company. 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 or adjusted reserves covering exposures relating to contingencies, to the extent believed to be reasonably estimable and probable based on past experience and available facts. While additional exposures beyond these reserves could exist, they currently cannot be estimated. We will continue to evaluate and update the reserves as necessary and appropriate.

Retirement and Postretirement B

Retirement and Postretirement Benefits	9 Months Ended
	Sep. 30, 2019
Retirement Benefits [Abstract]
Retirement and Postretirement Benefits	Retirement and Postretirement Benefits Components of the net periodic cost for retirement and postretirement benefits for the three months ended September 30, 2019 and 2018 were as follows: U.S. Defined Benefit Plans Non-U.S. Defined Benefit Plans Postretirement Medical Benefits (Amounts in millions) 2019 2018 2019 2018 2019 2018 Service cost $ 5.9 $ 5.5 $ 1.3 $ 1.7 $ — $ — Interest cost 4.5 3.9 2.0 2.2 0.2 0.2 Expected return on plan assets (6.4 ) (6.4 ) (1.7 ) (2.1 ) — — Amortization of prior service cost — — 0.1 — — — Amortization of unrecognized net loss (gain) 1.0 1.3 0.6 0.9 — (0.2 ) Net periodic cost recognized $ 5.0 $ 4.3 $ 2.3 $ 2.7 $ 0.2 $ — Components of the net periodic cost for retirement and postretirement benefits for the nine months ended September 30, 2019 and 2018 were as follows: U.S. Defined Benefit Plans Non-U.S. Defined Benefit Plans Postretirement Medical Benefits (Amounts in millions) 2019 2018 2019 2018 2019 2018 Service cost $ 17.4 $ 16.6 $ 4.2 $ 5.3 $ — $ — Interest cost 13.2 11.8 6.5 6.6 0.5 0.6 Expected return on plan assets (19.2 ) (19.3 ) (5.5 ) (6.4 ) — — Amortization of prior service cost 0.1 0.1 0.2 — 0.1 0.1 Amortization of unrecognized net loss (gain) 2.8 4.1 2.1 2.7 (0.1 ) (0.6 ) Net periodic cost recognized $ 14.3 $ 13.3 $ 7.5 $ 8.2 $ 0.5 $ 0.1 The components of net periodic cost for retirement and postretirement benefits other than service costs are included in Other income (expense), net in our condensed consolidated statement of income.

Shareholders' Equity

Shareholders' Equity	9 Months Ended
	Sep. 30, 2019
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 in its discretion dependent on its assessment of our financial situation and business outlook at the applicable time. Dividends declared per share were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Dividends declared per share $ 0.19 $ 0.19 $ 0.57 $ 0.57 Share Repurchase Program – In 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 repurchased 113,656 shares of our outstanding common stock for $5.4 million during the three months ended September 30, 2019 , compared to no repurchases of shares for the same period in 2018 . During the nine months ended September 30, 2019 ,we repurchased 113,656 shares of our outstanding common stock for $5.4 million , compared to no repurchases of shares during the same period in 2018. The primary purpose for the repurchased shares in 2019 was to offset the dilution of outstanding common stock as a result of the vesting of Restricted Shares during the year related to stock-based compensation. As of September 30, 2019 , we had $155.3 million of remaining capacity under our current share repurchase program.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2019
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 implementing a modified territorial tax system. The Tax Reform Act also provides for two new anti-base erosion provisions, the global intangible low-taxed income (“GILTI”) provision and the base-erosion and anti-abuse tax (“BEAT”) provision which effectively creates a new minimum tax on certain future foreign earnings. For the three months ended September 30, 2019 , we earned $96.2 million before taxes and provided for income taxes of $25.6 million resulting in an effective tax rate of 26.7% . For the nine months ended September 30, 2019 , we earned $255.2 million before taxes and provided for income taxes of $64.6 million resulting in an effective tax rate of 25.3% . The effective tax rate varied from the U.S. federal statutory rate for the three months ended September 30, 2019 primarily due to the BEAT provision in the Tax Reform Act and state tax. The effective tax rate varied from the U.S. federal statutory rate for the nine months ended September 30, 2019 primarily due to the BEAT provision in the Tax Reform Act and state tax, partially offset by the net impact of foreign operations. For the three months ended September 30, 2018 , we earned $44.4 million before taxes and provided for income taxes of $14.9 million resulting in an effective tax rate of 33.6% . For the nine months ended September 30, 2018 , we earned $97.7 million before taxes and provided for income taxes of $37.0 million resulting in an effective tax rate of 37.9% . The effective tax rate varied from the U.S. federal statutory rate for the three and nine months ended September 30, 2018 primarily due to the net impact of foreign operations, including losses in certain foreign jurisdictions for which no tax benefit was provided. As of September 30, 2019 , the amount of unrecognized tax benefits decreased by $1.8 million from December 31, 2018 . 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, China, France, Germany, India, Indonesia, Italy, Mexico, the Netherlands, Philippines, Saudi Arabia, Singapore, the U.S., Venezuela, and Vietnam. It is reasonably possible that within the next 12 months the effective tax rate will be impacted by the resolution of some or all of the matters audited by various taxing authorities. It is also reasonably possible that we will have the statute of limitations close in various taxing jurisdictions within the next 12 months. As such, we estimate we could record a reduction in our tax expense of approximately $6 million within the next 12 months.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
Segment Information	Segment Information In connection with the Flowserve 2.0 Transformation program, which is discussed and defined in Note 17, we have determined that there are meaningful operational synergies and benefits to combining our previously reported EPD and IPD segments into one reportable segment, FPD. During the first quarter of 2019 we implemented a reorganization of our operating segments. The reorganization of the segments reflects how our chief operating decision maker (Chief Executive Officer) regularly reviews financial information to allocate resources and assess performance. The following is a summary of the financial information of the reportable segments reconciled to the amounts reported in the condensed consolidated financial statements: Three Months Ended September 30, 2019 (Amounts in thousands) FPD FCD Subtotal–Reportable Segments Eliminations and All Other Consolidated Total Sales to external customers $ 682,798 $ 313,746 $ 996,544 $ — $ 996,544 Intersegment sales (52 ) 1,066 1,014 (1,014 ) — Segment operating income 85,461 50,046 135,507 (25,947 ) 109,560 Three Months Ended September 30, 2018 FPD FCD Subtotal–Reportable Segments Eliminations and All Other Consolidated Total Sales to external customers $ 647,298 $ 305,418 $ 952,716 $ — $ 952,716 Intersegment sales 667 761 1,428 (1,428 ) — Segment operating income 56,480 56,430 112,910 (50,719 ) 62,191 Nine Months Ended September 30, 2019 (Amounts in thousands) FPD FCD Subtotal–Reportable Segments Eliminations and All Other Consolidated Total Sales to external customers $ 1,965,523 $ 911,156 $ 2,876,679 $ — $ 2,876,679 Intersegment sales 1,249 2,716 3,965 (3,965 ) — Segment operating income 242,085 140,628 382,713 (83,904 ) 298,809 Nine Months Ended September 30, 2018 FPD FCD Subtotal–Reportable Segments Eliminations and All Other Consolidated Total Sales to external customers $ 1,958,806 $ 886,992 $ 2,845,798 $ — $ 2,845,798 Intersegment sales 2,038 2,890 4,928 (4,928 ) — Segment operating income 122,760 136,741 259,501 (105,174 ) 154,327

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	9 Months Ended
	Sep. 30, 2019
Equity [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Income (Loss) The following table presents the changes in accumulated other comprehensive loss ("AOCL"), net of tax for the three months ended September 30, 2019 and 2018 : 2019 2018 (Amounts in thousands) Foreign currency translation items(1) Pension and other post-retirement effects Cash flow hedging activity Total(1) Foreign currency translation items(1) Pension and other post-retirement effects Cash flow hedging activity Total(1) Balance - July 1 $ (443,828 ) $ (117,244 ) $ (753 ) $ (561,825 ) $ (426,327 ) $ (110,248 ) $ (965 ) $ (537,540 ) Other comprehensive income (loss) before reclassifications (30,600 ) 2,184 44 (28,372 ) (19,669 ) 771 52 (18,846 ) Amounts reclassified from AOCL — 1,464 — 1,464 — 1,828 — 1,828 Net current-period other comprehensive income (loss) (30,600 ) 3,648 44 (26,908 ) (19,669 ) 2,599 52 (17,018 ) Balance - September 30 $ (474,428 ) $ (113,596 ) $ (709 ) $ (588,733 ) $ (445,996 ) $ (107,649 ) $ (913 ) $ (554,558 ) _______________________________________ (1) Includes foreign currency translation adjustments attributable to noncontrolling interests of $5.2 million and $4.7 million at July 1, 2019 and 2018 , respectively, and $5.1 million and $5.0 million at September 30, 2019 and 2018 , respectively. Includes net investment hedge gains of $9.3 million and $1.5 million , net of deferred taxes, at September 30, 2019 and 2018 , respectively. Amounts in parentheses indicate debits. The following table presents the reclassifications out of AOCL: Three Months Ended September 30, (Amounts in thousands) Affected line item in the statement of income 2019(1) 2018(1) Pension and other postretirement effects Amortization of actuarial losses(2) Other income (expense), net $ (1,564 ) $ (2,061 ) Prior service costs(2) Other income (expense), net (131 ) (78 ) Tax benefit 231 311 Net of tax $ (1,464 ) $ (1,828 ) _______________________________________ (1) Amounts in parentheses indicate decreases to income. None of the reclass amounts have a noncontrolling interest component. (2) These accumulated other comprehensive loss components are included in the computation of net periodic pension cost. See Note 12 for additional details. The following table presents the changes in AOCL, net of tax for the nine months ended September 30, 2019 and 2018 : 2019 2018 (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 $ (447,925 ) $ (120,647 ) $ (858 ) $ (569,430 ) $ (384,779 ) $ (115,755 ) $ (1,090 ) $ (501,624 ) Other comprehensive (loss) income before reclassifications (26,503 ) 2,576 149 (23,778 ) (61,217 ) 2,536 177 (58,504 ) Amounts reclassified from AOCL — 4,475 — 4,475 — 5,570 — 5,570 Net current-period other comprehensive (loss) income (26,503 ) 7,051 149 (19,303 ) (61,217 ) 8,106 177 (52,934 ) Balance - September 30 $ (474,428 ) $ (113,596 ) $ (709 ) $ (588,733 ) $ (445,996 ) $ (107,649 ) $ (913 ) $ (554,558 ) (1) Includes foreign currency translation adjustments attributable to noncontrolling interests of $4.5 million and $3.8 million at January 1, 2019 and 2018, respectively, and $5.1 million and $5.0 million at September 30, 2019 and 2018 , respectively. Includes net investment hedge losses of $5.9 million and $19.8 million , net of deferred taxes, for the three months ended September 30, 2019 and 2018 , respectively. Amounts in parentheses indicate debits. The following table presents the reclassifications out of AOCL: Nine Months Ended September 30, (Amounts in thousands) Affected line item in the statement of income 2019(1) 2018(1) Pension and other postretirement effects Amortization of actuarial losses(2) Other income (expense), net $ (4,727 ) $ (6,231 ) Prior service costs(2) Other income (expense), net (408 ) (237 ) Tax benefit 660 898 Net of tax $ (4,475 ) $ (5,570 ) _______________________________________ (1) Amounts in parentheses indicate decreases to income. None of the reclass amounts have a noncontrolling interest component.

Realignment Programs

Realignment Programs	9 Months Ended
	Sep. 30, 2019
Restructuring and Related Activities [Abstract]
Realignment 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, improve organizational health and better leverage our existing global platform. 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 three months ended September 30, 2019 and 2018 , we incurred Flowserve 2.0 Transformation related expenses of $5.1 million and $24.0 million , respectively. For the nine months ended September 30, 2019 and 2018 we incurred Flowserve 2.0 Transformation related expenses of $21.0 million and $27.4 million , respectively. The Flowserve 2.0 Transformation expenses incurred primarily consist of professional services, project management and related travel costs recorded in SG&A. In 2015, we initiated realignment programs 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”). The Realignment Programs consist of both restructuring and non-restructuring charges. Restructuring charges represent costs associated with the relocation or reorganization of certain business activities and facility closures and include related severance costs. Non-restructuring charges are primarily employee severance associated with workforce reductions to reduce redundancies. Expenses are primarily reported in COS or SG&A, as applicable, in our condensed consolidated statements of income. These Realignment Programs have been substantially completed as of December 31, 2018. We estimate that the total investment in these programs will be approximately $350 million . As of September 30, 2019 , we have incurred charges of $346.9 million since the inception of the programs. Generally, the aforementioned charges will be 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 and Flowserve 2.0 Transformation program charges: Three Months Ended September 30, 2019 (Amounts in thousands) FPD FCD Subtotal–Reportable Segments Eliminations and All Other Consolidated Total Realignment Charges Restructuring Charges COS $ 197 $ 811 $ 1,008 $ — $ 1,008 SG&A 37 — 37 — 37 $ 234 $ 811 $ 1,045 $ — $ 1,045 Non-Restructuring Charges COS $ 2,409 $ 3 $ 2,412 $ — $ 2,412 SG&A 343 — 343 994 1,337 $ 2,752 $ 3 $ 2,755 $ 994 $ 3,749 Total Realignment Charges COS $ 2,606 $ 814 $ 3,420 $ — $ 3,420 SG&A 380 — 380 994 $ 1,374 Total $ 2,986 $ 814 $ 3,800 $ 994 $ 4,794 Transformation Charges SG&A $ — $ — $ — $ 5,058 $ 5,058 $ — $ — $ — $ 5,058 $ 5,058 Total Realignment and Transformation Charges COS $ 2,606 $ 814 $ 3,420 $ — $ 3,420 SG&A 380 — 380 6,052 6,432 Total $ 2,986 $ 814 $ 3,800 $ 6,052 $ 9,852 Three Months Ended September 30, 2018 (Amounts in thousands) FPD FCD Subtotal–Reportable Segments Eliminations and All Other Consolidated Total Realignment Charges Restructuring Charges COS $ 3,487 $ 918 $ 4,405 $ — $ 4,405 SG&A (205 ) 1 (204 ) 9 (195 ) $ 3,282 $ 919 $ 4,201 $ 9 $ 4,210 Non-Restructuring Charges COS $ 4,433 $ (630 ) $ 3,803 $ — $ 3,803 SG&A (818 ) 225 (593 ) 3,707 3,114 $ 3,615 $ (405 ) $ 3,210 $ 3,707 $ 6,917 Total Realignment Charges COS $ 7,920 $ 288 $ 8,208 $ — $ 8,208 SG&A (1,023 ) 226 (797 ) 3,716 $ 2,919 Total $ 6,897 $ 514 $ 7,411 $ 3,716 $ 11,127 Transformation Charges SG&A $ — $ — $ — $ 23,986 $ 23,986 $ — $ — $ — $ 23,986 $ 23,986 Total Realignment and Transformation Charges COS $ 7,920 $ 288 $ 8,208 $ — $ 8,208 SG&A (1,023 ) $ 226 $ (797 ) $ 27,702 $ 26,905 Total $ 6,897 $ 514 $ 7,411 $ 27,702 $ 35,113 Nine Months Ended September 30, 2019 (Amounts in thousands) FPD FCD Subtotal–Reportable Segments Eliminations and All Other Consolidated Total Realignment Charges Restructuring Charges COS $ 1,892 $ 1,291 $ 3,183 $ — $ 3,183 SG&A(1) (17,072 ) 413 (16,659 ) — (16,659 ) $ (15,180 ) $ 1,704 $ (13,476 ) $ — $ (13,476 ) Non-Restructuring Charges COS $ 9,531 $ 72 $ 9,603 $ — $ 9,603 SG&A 770 34 804 2,237 3,041 $ 10,301 $ 106 $ 10,407 $ 2,237 $ 12,644 Total Realignment Charges COS $ 11,423 $ 1,363 $ 12,786 $ — $ 12,786 SG&A (16,302 ) 447 (15,855 ) 2,237 (13,618 ) Total $ (4,879 ) $ 1,810 $ (3,069 ) $ 2,237 $ (832 ) Transformation Charges SG&A — — — 21,044 21,044 $ — $ — $ — $ 21,044 $ 21,044 Total Realignment and Transformation Charges COS $ 11,423 $ 1,363 $ 12,786 $ — $ 12,786 SG&A (16,302 ) 447 (15,855 ) 23,281 7,426 Total $ (4,879 ) $ 1,810 $ (3,069 ) $ 23,281 $ 20,212 ______________________________________ (1) Includes gains from the sales of non-strategic manufacturing facilities that are included in our Realignment Programs. Nine Months Ended September 30, 2018 (Amounts in thousands) FPD FCD Subtotal–Reportable Segments Eliminations and All Other Consolidated Total Restructuring Charges COS $ 10,532 $ 3,370 $ 13,902 $ — $ 13,902 SG&A 917 345 1,262 37 1,299 $ 11,449 $ 3,715 $ 15,164 $ 37 $ 15,201 Non-Restructuring Charges COS $ 17,738 $ (47 ) $ 17,691 $ — $ 17,691 SG&A 3,778 947 4,725 5,723 10,448 $ 21,516 $ 900 $ 22,416 $ 5,723 $ 28,139 Total Realignment Charges COS $ 28,270 $ 3,323 $ 31,593 $ — $ 31,593 SG&A 4,695 1,292 5,987 5,760 11,747 Total $ 32,965 $ 4,615 $ 37,580 $ 5,760 $ 43,340 Transformation Charges SG&A — — — 27,352 27,352 $ — $ — $ — $ 27,352 $ 27,352 Total Realignment and Transformation Charges COS $ 28,270 $ 3,323 $ 31,593 $ — $ 31,593 SG&A 4,695 1,292 5,987 33,112 39,099 Total $ 32,965 $ 4,615 $ 37,580 $ 33,112 $ 70,692 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) FPD FCD Subtotal–Reportable Segments Eliminations and All Other Consolidated Total Realignment Charges Restructuring Charges COS $ 110,934 $ 28,316 $ 139,250 $ — $ 139,250 SG&A 19,838 9,868 29,706 317 30,023 Income tax expense(1) 18,700 1,800 20,500 — 20,500 $ 149,472 $ 39,984 $ 189,456 $ 317 $ 189,773 Non-Restructuring Charges COS $ 78,015 $ 13,790 $ 91,805 $ 8 $ 91,813 SG&A 40,074 7,546 47,620 17,739 65,359 $ 118,089 $ 21,336 $ 139,425 $ 17,747 $ 157,172 Total Realignment Charges COS $ 188,949 $ 42,106 $ 231,055 $ 8 $ 231,063 SG&A 59,912 17,414 77,326 18,056 95,382 Income tax expense(1) 18,700 1,800 20,500 — 20,500 Total $ 267,561 $ 61,320 $ 328,881 $ 18,064 $ 346,945 ____________________________ (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: Three Months Ended September 30, 2019 (Amounts in thousands) Severance Contract Termination Asset Write-Downs/ (Gains) Other Total COS $ (729 ) $ 3 $ 19 $ 1,715 $ 1,008 SG&A (9 ) — 5 41 37 Total $ (738 ) $ 3 $ 24 $ 1,756 $ 1,045 Three Months Ended September 30, 2018 (Amounts in thousands) Severance Contract Termination Asset Write-Downs Other Total COS $ (590 ) $ 3 $ 449 $ 4,543 $ 4,405 SG&A (46 ) — 10 (159 ) (195 ) Total $ (636 ) $ 3 $ 459 $ 4,384 $ 4,210 Nine Months Ended September 30, 2019 (Amounts in thousands) Severance Contract Termination Asset Write-Downs/ (Gains) Other Total COS $ 1,099 $ 51 $ (799 ) $ 2,832 $ 3,183 SG&A(1) 1,609 — (18,496 ) 228 (16,659 ) Total $ 2,708 $ 51 $ (19,295 ) $ 3,060 $ (13,476 ) _______________________________ (1) Primarily consists of gains from the sales of non-strategic manufacturing facilities that are included in our Realignment Programs. Nine Months Ended September 30, 2018 (Amounts in thousands) Severance Contract Termination Asset Write-Downs Other Total COS $ 2,764 $ 3 $ 3,898 $ 7,237 $ 13,902 SG&A 1,246 — 10 43 1,299 Total $ 4,010 $ 3 $ 3,908 $ 7,280 $ 15,201 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 COS $ 86,259 $ 958 $ 23,536 $ 28,497 $ 139,250 SG&A 33,354 43 (16,807 ) 13,433 30,023 Income tax expense(1) — — — 20,500 20,500 Total $ 119,613 $ 1,001 $ 6,729 $ 62,430 $ 189,773 _______________________________ (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 nine months ended September 30, 2019 and 2018 : (Amounts in thousands) 2019 2018 Balance at December 31 $ 11,927 $ 39,230 Charges, net of adjustments 5,817 11,314 Cash expenditures (8,196 ) (15,935 ) Other non-cash adjustments, including currency (461 ) (15,196 ) Balance at September 30 $ 9,087 $ 19,413

Basis of Presentation and Acc_2

Basis of Presentation and Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Accounting developments	Accounting Developments Pronouncements Implemented In February 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No.2016-02, Leases (Topic 842) ("New Lease Standard"). The New Lease Standard increases transparency and comparability by requiring lessees to recognize right-of-use (“ROU”) assets and lease liabilities for operating leases on their consolidated balance sheets. Additionally, expanded disclosures are required to enable users of financial statements to understand the amount, timing and uncertainty of cash flows arising from leases. We adopted the New Lease Standard effective January 1, 2019, utilizing the modified retrospective approach and elected an initial application date of January 1, 2019. The adoption resulted in an increase to total assets and liabilities due to the recording of lease ROU assets and lease liabilities of approximately $210 million as of January 1, 2019. The adoption did not materially impact our condensed consolidated results of operations or cash flows. Refer to Note 4 for further discussion of our adoption of the New Lease Standard. 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 this ASU must be applied to annual reporting periods beginning after December 15, 2018. Our adoption of ASU No. 2017-11 effective January 1, 2019 did not have an impact on our condensed consolidated financial condition and results of operations. On August 28, 2017, the FASB issued ASU No. 2017-12, "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. Our adoption of ASU No. 2017-12 effective January 1, 2019 did not have an impact on our condensed 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. 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 elected not to reclassify the income tax effects of the Tax Cuts and Jobs Act from accumulated comprehensive income to retained earnings. 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 non-employees 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. Our adoption of ASU No. 2018-07-12 effective January 1, 2019 did not have an impact on our condensed consolidated financial condition and results of operations. Pronouncements Not Yet Implemented 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 allowances for doubtful accounts with respect to accounts receivable and contract assets. The CECL model requires that companies estimate the lifetime of an expected credit loss with respect to receivables and contract assets and record allowances that, when deducted from the balance of the receivables, represent the net amounts expected to be collected. Companies will also be required to disclose information about how the allowances were developed, 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. We are currently evaluating the impact of ASU No. 2016-13 and other related ASUs 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. 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 ASC 350-40. 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. 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. 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. Early adoption is permitted. We are currently evaluating the impact of ASU No. 2018-18 on our consolidated financial condition and results of operations.
Fair Value	Fair Value Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Where available, fair value is based on observable market prices or parameters or derived from such prices or parameters. Where observable prices or inputs are not available, valuation models may be applied. Assets and liabilities recorded at fair value in our condensed consolidated balance sheets are categorized by hierarchical levels based upon the level of judgment associa ted with the inputs used to measure their fair values. Recurring fair value measurements are limited to investments in derivative instruments. The fair value measurements of our derivative instruments are determined using models that maximize the use of the observable market inputs including interest rate curves and both forward and spot prices for currencies, and are classified as Level II under the fair value hierarchy. The fair values of our derivatives are included in Note 6.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	Sep. 30, 2019
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table presents our customer revenues disaggregated by revenue source: Three Months Ended September 30, 2019 (Amounts in thousands) FPD FCD Total Original Equipment $ 256,664 $ 252,282 $ 508,946 Aftermarket 426,134 61,464 487,598 $ 682,798 $ 313,746 $ 996,544 Three Months Ended September 30, 2018 FPD FCD Total Original Equipment $ 255,869 $ 239,864 $ 495,733 Aftermarket 391,429 65,554 456,983 $ 647,298 $ 305,418 $ 952,716 Nine Months Ended September 30, 2019 (Amounts in thousands) FPD FCD Total Original Equipment $ 706,092 $ 715,306 $ 1,421,398 Aftermarket 1,259,431 195,850 1,455,281 $ 1,965,523 $ 911,156 $ 2,876,679 Nine Months Ended September 30, 2018 FPD FCD Total Original Equipment $ 756,296 $ 689,331 $ 1,445,627 Aftermarket 1,202,510 197,661 1,400,171 $ 1,958,806 $ 886,992 $ 2,845,798 Our customer sales are diversified geographically. The following table presents our revenues disaggregated by geography, based on the shipping addresses of our customers: : Three Months Ended September 30, 2019 (Amounts in thousands) FPD FCD Total North America(1) $ 279,583 $ 133,881 $ 413,464 Latin America(1) 51,338 7,682 59,020 Middle East and Africa 87,982 23,721 111,703 Asia Pacific 129,047 86,787 215,834 Europe 134,848 61,675 196,523 $ 682,798 $ 313,746 $ 996,544 Three Months Ended September 30, 2018 FPD FCD Total North America(1) $ 251,503 $ 140,898 $ 392,401 Latin America(1) 76,167 4,461 80,628 Middle East and Africa 70,666 33,908 104,574 Asia Pacific 119,258 65,858 185,116 Europe 129,704 60,293 189,997 $ 647,298 $ 305,418 $ 952,716 Nine Months Ended September 30, 2019 (Amounts in thousands) FPD FCD Total North America (1) $ 797,092 $ 403,747 $ 1,200,839 Latin America(1) 134,716 23,574 158,290 Middle East and Africa 249,694 69,484 319,178 Asia Pacific 367,204 227,200 594,404 Europe 416,817 187,151 603,968 $ 1,965,523 $ 911,156 $ 2,876,679 Nine Months Ended September 30, 2018 FPD FCD Total North America (1) $ 774,602 $ 398,872 $ 1,173,474 Latin America(1) 161,344 15,454 176,798 Middle East and Africa 240,497 99,954 340,451 Asia Pacific 385,955 198,437 584,392 Europe 396,408 174,275 570,683 $ 1,958,806 $ 886,992 $ 2,845,798 _____________________________________ (1) North America represents United States and Canada; Latin America includes Mexico.
Contract liabilities	The following table presents beginning and ending balances of contract assets and contract liabilities, current and long-term, for the nine months ended September 30, 2019 : (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, 2019 $ 228,579 10,967 $ 202,458 $ 1,370 Revenue recognized that was included in contract liabilities at the beginning of the period — — (129,621 ) — Revenue recognized in the period in excess of billings 584,784 — — — Billings arising during the period in excess of revenue recognized — — 148,552 — Amounts transferred from contract assets to receivables (544,533 ) (3,414 ) — — Currency effects and other, net (10,531 ) 539 (1,709 ) 248 Ending balance, September 30, 2019 $ 258,299 $ 8,092 $ 219,680 $ 1,618 _____________________________________ (1) Included in other assets, net. (2) Included in retirement obligations and other liabilities.

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Summary of Other Lease Information	Other information related to our leases is as follows: September 30, (Amounts in thousands) 2019 Operating Leases: ROU assets recorded under operating leases $ 208,943 Accumulated amortization associated with operating leases (26,670 ) Total operating leases ROU assets, net $ 182,273 Liabilities recorded under operating leases (current) $ 35,042 Liabilities recorded under operating leases (non-current) 146,839 Total operating leases liabilities $ 181,881 Finance Leases: ROU assets recorded under finance leases $ 16,230 Accumulated depreciation associated with finance leases (5,015 ) Total finance leases ROU assets, net(1) $ 11,215 Total finance leases liabilities(2) $ 11,246 The costs components of operating and finance leases are as follows: (Amounts in thousands) Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 Operating Lease Costs: Fixed lease expense(3) $ 13,858 $ 43,864 Variable lease expense(3) 1,119 3,999 Total operating lease expense $ 14,977 $ 47,863 Finance Lease Costs: Depreciation of finance lease ROU assets(3) $ 993 $ 3,280 Interest on lease liabilities(4) 102 253 Total finance lease expense $ 1,095 $ 3,533 _____________________ (1) Included in property plant and equipment, net (2) Included in debt due within one year and long-term debt due after one year, accordingly (3) Included in cost of sales and selling, general and administrative expense, accordingly (4) Included in interest expense
Schedule of Supplemental Cash Flows Information	Supplemental cash flows information as of and for the nine months ended September 30, 2019 : (Amounts in thousands, except lease term and discount rate) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases(1) $ 39,642 Financing cash flows from finance leases(2) 4,177 ROU assets obtained in exchange for lease obligations: Operating leases $ 15,739 Finance leases 10,184 Weighted average remaining lease term (in years) Operating leases 9 years Finance leases 4 years Weighted average discount rate (percent) Operating leases 4.6 % Finance leases 3.7 % _____________________ (1) Included in our condensed consolidated statement of cash flows, operating activities, prepaid expenses and other assets, net and retirement obligations and other (2) Included in our condensed consolidated statement of cash flows, financing activities, payments under other financing arrangements
Schedule of Future Finance Lease Payments	Future undiscounted lease payments under operating and finance leases as of September 30, 2019 were as follows (amounts in thousands): Year ending December 31, Operating Leases Finance Leases 2019 (excluding the nine months ended September 30, 2019) $ 10,769 $ 1,321 2020 39,425 4,353 2021 30,498 2,854 2022 25,032 1,623 2023 21,235 850 Thereafter 95,094 945 Total future minimum lease payments $ 222,053 $ 11,946 Less: Imputed interest (40,172 ) (700 ) Total $ 181,881 $ 11,246 Other current liabilities $ 35,042 $ — Operating lease liabilities 146,839 — Debt due within one year — 4,342 Long-term debt due after one year — 6,904 Total $ 181,881 $ 11,246 The future minimum lease payments as of December 31, 2018 were as follows (amounts in thousands): Year ending December 31, 2019 $ 68,443 2020 49,874 2021 38,446 2022 28,496 2023 21,473 Thereafter 66,518 Total future minimum lease payments $ 273,250
Schedule of Future Operating Lease Payments	Future undiscounted lease payments under operating and finance leases as of September 30, 2019 were as follows (amounts in thousands): Year ending December 31, Operating Leases Finance Leases 2019 (excluding the nine months ended September 30, 2019) $ 10,769 $ 1,321 2020 39,425 4,353 2021 30,498 2,854 2022 25,032 1,623 2023 21,235 850 Thereafter 95,094 945 Total future minimum lease payments $ 222,053 $ 11,946 Less: Imputed interest (40,172 ) (700 ) Total $ 181,881 $ 11,246 Other current liabilities $ 35,042 $ — Operating lease liabilities 146,839 — Debt due within one year — 4,342 Long-term debt due after one year — 6,904 Total $ 181,881 $ 11,246 The future minimum lease payments as of December 31, 2018 were as follows (amounts in thousands): Year ending December 31, 2019 $ 68,443 2020 49,874 2021 38,446 2022 28,496 2023 21,473 Thereafter 66,518 Total future minimum lease payments $ 273,250

Stock-Based Compensation Plans

Stock-Based Compensation Plans (Tables)	9 Months Ended
	Sep. 30, 2019
Share-based Payment Arrangement [Abstract]
Information Regarding Restricted Shares	The following table summarizes information regarding Restricted Shares: Nine Months Ended September 30, 2019 Shares Weighted Average Grant-Date Fair Value Number of unvested shares: Outstanding - January 1, 2019 1,530,214 $ 45.06 Granted 807,439 46.91 Vested (386,306 ) 42.78 Forfeited (197,004 ) 42.32 Outstanding as of September 30, 2019 1,754,343 $ 46.72

Derivative Instruments and He_2

Derivative Instruments and Hedges (Tables)	9 Months Ended
	Sep. 30, 2019
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: September 30, December 31, (Amounts in thousands) 2019 2018 Current derivative assets $ 1,787 $ 535 Noncurrent derivative assets — 5 Current derivative liabilities 4,841 3,285 Noncurrent derivative liabilities 388 2
Impact of Net Changes in Fair Values of Forward Exchange Contracts Not Designated as Hedging Instruments	The impact of net changes in the fair values of foreign exchange contracts are summarized below: Three Months Ended September 30, Nine Months Ended September 30, (Amounts in thousands) 2019 2018 2019 2018 Losses recognized in income $ (1,817 ) $ (1,157 ) $ (4,511 ) $ (2,384 )

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Debt Including Capital Lease Obligations	Debt, including finance lease obligations, consisted of: September 30, December 31, (Amounts in thousands, except percentages) 2019 2018 1.25% EUR Senior Notes due March 17, 2022, net of unamortized discount and debt issuance costs of $2,867 and $3,914 $ 542,033 $ 569,536 3.50% USD Senior Notes due September 15, 2022, net of unamortized discount and debt issuance costs of $2,092 and $2,589 497,908 497,411 4.00% USD Senior Notes due November 15, 2023, net of unamortized discount and debt issuance costs of $1,882 and $2,192 298,118 297,808 Term Loan Facility, interest rate of 4.30% at December 31, 2018, net of debt issuance costs of $249 — 104,751 Finance lease obligations and other borrowings 21,945 13,541 Debt and finance lease obligations 1,360,004 1,483,047 Less amounts due within one year 9,739 68,218 Total debt due after one year $ 1,350,265 $ 1,414,829

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2019
Inventory Disclosure [Abstract]
Net Components of Inventory	Inventories, net consisted of the following: September 30, December 31, (Amounts in thousands) 2019 2018 Raw materials $ 328,902 $ 310,204 Work in process 239,339 191,660 Finished goods 195,259 205,814 Less: Excess and obsolete reserve (76,261 ) (73,807 ) Inventories, net $ 687,239 $ 633,871

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Calculation of Net Earnings Per Common Share and Weighted Average Common Share Outstanding	The following is a reconciliation of net earnings of Flowserve Corporation and weighted average shares for calculating net earnings per common share. Earnings per weighted average common share outstanding was calculated as follows: Three Months Ended September 30, (Amounts in thousands, except per share data) 2019 2018 Net earnings of Flowserve Corporation $ 68,443 $ 28,205 Dividends on restricted shares not expected to vest — — Earnings attributable to common and participating shareholders $ 68,443 $ 28,205 Weighted average shares: Common stock 131,122 130,823 Participating securities 23 20 Denominator for basic earnings per common share 131,145 130,843 Effect of potentially dilutive securities 701 507 Denominator for diluted earnings per common share 131,846 131,350 Earnings per common share: Basic $ 0.52 $ 0.22 Diluted 0.52 0.21 Nine Months Ended September 30, (Amounts in thousands, except per share data) 2019 2018 Net earnings of Flowserve Corporation $ 183,875 $ 56,568 Dividends on restricted shares not expected to vest — — Earnings attributable to common and participating shareholders $ 183,875 $ 56,568 Weighted average shares: Common stock 131,070 130,784 Participating securities 22 32 Denominator for basic earnings per common share 131,092 130,816 Effect of potentially dilutive securities 605 408 Denominator for diluted earnings per common share 131,697 131,224 Earnings per common share: Basic $ 1.40 $ 0.43 Diluted 1.40 0.43

Retirement and Postretirement_2

Retirement and Postretirement Benefits (Tables)	9 Months Ended
	Sep. 30, 2019
Retirement Benefits [Abstract]
Components of Net Periodic Cost for Pension and Postretirement Benefits	Components of the net periodic cost for retirement and postretirement benefits for the three months ended September 30, 2019 and 2018 were as follows: U.S. Defined Benefit Plans Non-U.S. Defined Benefit Plans Postretirement Medical Benefits (Amounts in millions) 2019 2018 2019 2018 2019 2018 Service cost $ 5.9 $ 5.5 $ 1.3 $ 1.7 $ — $ — Interest cost 4.5 3.9 2.0 2.2 0.2 0.2 Expected return on plan assets (6.4 ) (6.4 ) (1.7 ) (2.1 ) — — Amortization of prior service cost — — 0.1 — — — Amortization of unrecognized net loss (gain) 1.0 1.3 0.6 0.9 — (0.2 ) Net periodic cost recognized $ 5.0 $ 4.3 $ 2.3 $ 2.7 $ 0.2 $ — Components of the net periodic cost for retirement and postretirement benefits for the nine months ended September 30, 2019 and 2018 were as follows: U.S. Defined Benefit Plans Non-U.S. Defined Benefit Plans Postretirement Medical Benefits (Amounts in millions) 2019 2018 2019 2018 2019 2018 Service cost $ 17.4 $ 16.6 $ 4.2 $ 5.3 $ — $ — Interest cost 13.2 11.8 6.5 6.6 0.5 0.6 Expected return on plan assets (19.2 ) (19.3 ) (5.5 ) (6.4 ) — — Amortization of prior service cost 0.1 0.1 0.2 — 0.1 0.1 Amortization of unrecognized net loss (gain) 2.8 4.1 2.1 2.7 (0.1 ) (0.6 ) Net periodic cost recognized $ 14.3 $ 13.3 $ 7.5 $ 8.2 $ 0.5 $ 0.1

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
Summarized Financial Information of Reportable Segments	The following is a summary of the financial information of the reportable segments reconciled to the amounts reported in the condensed consolidated financial statements: Three Months Ended September 30, 2019 (Amounts in thousands) FPD FCD Subtotal–Reportable Segments Eliminations and All Other Consolidated Total Sales to external customers $ 682,798 $ 313,746 $ 996,544 $ — $ 996,544 Intersegment sales (52 ) 1,066 1,014 (1,014 ) — Segment operating income 85,461 50,046 135,507 (25,947 ) 109,560 Three Months Ended September 30, 2018 FPD FCD Subtotal–Reportable Segments Eliminations and All Other Consolidated Total Sales to external customers $ 647,298 $ 305,418 $ 952,716 $ — $ 952,716 Intersegment sales 667 761 1,428 (1,428 ) — Segment operating income 56,480 56,430 112,910 (50,719 ) 62,191 Nine Months Ended September 30, 2019 (Amounts in thousands) FPD FCD Subtotal–Reportable Segments Eliminations and All Other Consolidated Total Sales to external customers $ 1,965,523 $ 911,156 $ 2,876,679 $ — $ 2,876,679 Intersegment sales 1,249 2,716 3,965 (3,965 ) — Segment operating income 242,085 140,628 382,713 (83,904 ) 298,809 Nine Months Ended September 30, 2018 FPD FCD Subtotal–Reportable Segments Eliminations and All Other Consolidated Total Sales to external customers $ 1,958,806 $ 886,992 $ 2,845,798 $ — $ 2,845,798 Intersegment sales 2,038 2,890 4,928 (4,928 ) — Segment operating income 122,760 136,741 259,501 (105,174 ) 154,327

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Sep. 30, 2019
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table presents the changes in accumulated other comprehensive loss ("AOCL"), net of tax for the three months ended September 30, 2019 and 2018 : 2019 2018 (Amounts in thousands) Foreign currency translation items(1) Pension and other post-retirement effects Cash flow hedging activity Total(1) Foreign currency translation items(1) Pension and other post-retirement effects Cash flow hedging activity Total(1) Balance - July 1 $ (443,828 ) $ (117,244 ) $ (753 ) $ (561,825 ) $ (426,327 ) $ (110,248 ) $ (965 ) $ (537,540 ) Other comprehensive income (loss) before reclassifications (30,600 ) 2,184 44 (28,372 ) (19,669 ) 771 52 (18,846 ) Amounts reclassified from AOCL — 1,464 — 1,464 — 1,828 — 1,828 Net current-period other comprehensive income (loss) (30,600 ) 3,648 44 (26,908 ) (19,669 ) 2,599 52 (17,018 ) Balance - September 30 $ (474,428 ) $ (113,596 ) $ (709 ) $ (588,733 ) $ (445,996 ) $ (107,649 ) $ (913 ) $ (554,558 ) _______________________________________ (1) Includes foreign currency translation adjustments attributable to noncontrolling interests of $5.2 million and $4.7 million at July 1, 2019 and 2018 , respectively, and $5.1 million and $5.0 million at September 30, 2019 and 2018 , respectively. Includes net investment hedge gains of $9.3 million and $1.5 million , net of deferred taxes, at September 30, 2019 and 2018 The following table presents the changes in AOCL, net of tax for the nine months ended September 30, 2019 and 2018 : 2019 2018 (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 $ (447,925 ) $ (120,647 ) $ (858 ) $ (569,430 ) $ (384,779 ) $ (115,755 ) $ (1,090 ) $ (501,624 ) Other comprehensive (loss) income before reclassifications (26,503 ) 2,576 149 (23,778 ) (61,217 ) 2,536 177 (58,504 ) Amounts reclassified from AOCL — 4,475 — 4,475 — 5,570 — 5,570 Net current-period other comprehensive (loss) income (26,503 ) 7,051 149 (19,303 ) (61,217 ) 8,106 177 (52,934 ) Balance - September 30 $ (474,428 ) $ (113,596 ) $ (709 ) $ (588,733 ) $ (445,996 ) $ (107,649 ) $ (913 ) $ (554,558 ) (1) Includes foreign currency translation adjustments attributable to noncontrolling interests of $4.5 million and $3.8 million at January 1, 2019 and 2018, respectively, and $5.1 million and $5.0 million at September 30, 2019 and 2018 , respectively. Includes net investment hedge losses of $5.9 million and $19.8 million , net of deferred taxes, for the three months ended September 30, 2019 and 2018
Reclassifications out of Accumulated Other Comprehensive Income (Loss)	The following table presents the reclassifications out of AOCL: Nine Months Ended September 30, (Amounts in thousands) Affected line item in the statement of income 2019(1) 2018(1) Pension and other postretirement effects Amortization of actuarial losses(2) Other income (expense), net $ (4,727 ) $ (6,231 ) Prior service costs(2) Other income (expense), net (408 ) (237 ) Tax benefit 660 898 Net of tax $ (4,475 ) $ (5,570 ) _______________________________________ (1) Amounts in parentheses indicate decreases to income. None of the reclass amounts have a noncontrolling interest component. (2) These accumulated other comprehensive loss components are included in the computation of net periodic pension cost. See Note 12 for additional details. The following table presents the reclassifications out of AOCL: Three Months Ended September 30, (Amounts in thousands) Affected line item in the statement of income 2019(1) 2018(1) Pension and other postretirement effects Amortization of actuarial losses(2) Other income (expense), net $ (1,564 ) $ (2,061 ) Prior service costs(2) Other income (expense), net (131 ) (78 ) Tax benefit 231 311 Net of tax $ (1,464 ) $ (1,828 ) _______________________________________ (1) Amounts in parentheses indicate decreases to income. None of the reclass amounts have a noncontrolling interest component. (2) These accumulated other comprehensive loss components are included in the computation of net periodic pension cost. See Note 12 for additional details.

Realignment Programs (Tables)

Realignment Programs (Tables)	9 Months Ended
	Sep. 30, 2019
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs	The following is a summary of restructuring charges, net of adjustments, for the Realignment Programs: Three Months Ended September 30, 2019 (Amounts in thousands) Severance Contract Termination Asset Write-Downs/ (Gains) Other Total COS $ (729 ) $ 3 $ 19 $ 1,715 $ 1,008 SG&A (9 ) — 5 41 37 Total $ (738 ) $ 3 $ 24 $ 1,756 $ 1,045 Three Months Ended September 30, 2018 (Amounts in thousands) Severance Contract Termination Asset Write-Downs Other Total COS $ (590 ) $ 3 $ 449 $ 4,543 $ 4,405 SG&A (46 ) — 10 (159 ) (195 ) Total $ (636 ) $ 3 $ 459 $ 4,384 $ 4,210 Nine Months Ended September 30, 2019 (Amounts in thousands) Severance Contract Termination Asset Write-Downs/ (Gains) Other Total COS $ 1,099 $ 51 $ (799 ) $ 2,832 $ 3,183 SG&A(1) 1,609 — (18,496 ) 228 (16,659 ) Total $ 2,708 $ 51 $ (19,295 ) $ 3,060 $ (13,476 ) _______________________________ (1) Primarily consists of gains from the sales of non-strategic manufacturing facilities that are included in our Realignment Programs. Nine Months Ended September 30, 2018 (Amounts in thousands) Severance Contract Termination Asset Write-Downs Other Total COS $ 2,764 $ 3 $ 3,898 $ 7,237 $ 13,902 SG&A 1,246 — 10 43 1,299 Total $ 4,010 $ 3 $ 3,908 $ 7,280 $ 15,201 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 COS $ 86,259 $ 958 $ 23,536 $ 28,497 $ 139,250 SG&A 33,354 43 (16,807 ) 13,433 30,023 Income tax expense(1) — — — 20,500 20,500 Total $ 119,613 $ 1,001 $ 6,729 $ 62,430 $ 189,773 _______________________________ (1) Income tax expense includes exit taxes as well as non-deductible costs. Three Months Ended September 30, 2019 (Amounts in thousands) FPD FCD Subtotal–Reportable Segments Eliminations and All Other Consolidated Total Realignment Charges Restructuring Charges COS $ 197 $ 811 $ 1,008 $ — $ 1,008 SG&A 37 — 37 — 37 $ 234 $ 811 $ 1,045 $ — $ 1,045 Non-Restructuring Charges COS $ 2,409 $ 3 $ 2,412 $ — $ 2,412 SG&A 343 — 343 994 1,337 $ 2,752 $ 3 $ 2,755 $ 994 $ 3,749 Total Realignment Charges COS $ 2,606 $ 814 $ 3,420 $ — $ 3,420 SG&A 380 — 380 994 $ 1,374 Total $ 2,986 $ 814 $ 3,800 $ 994 $ 4,794 Transformation Charges SG&A $ — $ — $ — $ 5,058 $ 5,058 $ — $ — $ — $ 5,058 $ 5,058 Total Realignment and Transformation Charges COS $ 2,606 $ 814 $ 3,420 $ — $ 3,420 SG&A 380 — 380 6,052 6,432 Total $ 2,986 $ 814 $ 3,800 $ 6,052 $ 9,852 Three Months Ended September 30, 2018 (Amounts in thousands) FPD FCD Subtotal–Reportable Segments Eliminations and All Other Consolidated Total Realignment Charges Restructuring Charges COS $ 3,487 $ 918 $ 4,405 $ — $ 4,405 SG&A (205 ) 1 (204 ) 9 (195 ) $ 3,282 $ 919 $ 4,201 $ 9 $ 4,210 Non-Restructuring Charges COS $ 4,433 $ (630 ) $ 3,803 $ — $ 3,803 SG&A (818 ) 225 (593 ) 3,707 3,114 $ 3,615 $ (405 ) $ 3,210 $ 3,707 $ 6,917 Total Realignment Charges COS $ 7,920 $ 288 $ 8,208 $ — $ 8,208 SG&A (1,023 ) 226 (797 ) 3,716 $ 2,919 Total $ 6,897 $ 514 $ 7,411 $ 3,716 $ 11,127 Transformation Charges SG&A $ — $ — $ — $ 23,986 $ 23,986 $ — $ — $ — $ 23,986 $ 23,986 Total Realignment and Transformation Charges COS $ 7,920 $ 288 $ 8,208 $ — $ 8,208 SG&A (1,023 ) $ 226 $ (797 ) $ 27,702 $ 26,905 Total $ 6,897 $ 514 $ 7,411 $ 27,702 $ 35,113 Nine Months Ended September 30, 2019 (Amounts in thousands) FPD FCD Subtotal–Reportable Segments Eliminations and All Other Consolidated Total Realignment Charges Restructuring Charges COS $ 1,892 $ 1,291 $ 3,183 $ — $ 3,183 SG&A(1) (17,072 ) 413 (16,659 ) — (16,659 ) $ (15,180 ) $ 1,704 $ (13,476 ) $ — $ (13,476 ) Non-Restructuring Charges COS $ 9,531 $ 72 $ 9,603 $ — $ 9,603 SG&A 770 34 804 2,237 3,041 $ 10,301 $ 106 $ 10,407 $ 2,237 $ 12,644 Total Realignment Charges COS $ 11,423 $ 1,363 $ 12,786 $ — $ 12,786 SG&A (16,302 ) 447 (15,855 ) 2,237 (13,618 ) Total $ (4,879 ) $ 1,810 $ (3,069 ) $ 2,237 $ (832 ) Transformation Charges SG&A — — — 21,044 21,044 $ — $ — $ — $ 21,044 $ 21,044 Total Realignment and Transformation Charges COS $ 11,423 $ 1,363 $ 12,786 $ — $ 12,786 SG&A (16,302 ) 447 (15,855 ) 23,281 7,426 Total $ (4,879 ) $ 1,810 $ (3,069 ) $ 23,281 $ 20,212 ______________________________________ (1) Includes gains from the sales of non-strategic manufacturing facilities that are included in our Realignment Programs. Nine Months Ended September 30, 2018 (Amounts in thousands) FPD FCD Subtotal–Reportable Segments Eliminations and All Other Consolidated Total Restructuring Charges COS $ 10,532 $ 3,370 $ 13,902 $ — $ 13,902 SG&A 917 345 1,262 37 1,299 $ 11,449 $ 3,715 $ 15,164 $ 37 $ 15,201 Non-Restructuring Charges COS $ 17,738 $ (47 ) $ 17,691 $ — $ 17,691 SG&A 3,778 947 4,725 5,723 10,448 $ 21,516 $ 900 $ 22,416 $ 5,723 $ 28,139 Total Realignment Charges COS $ 28,270 $ 3,323 $ 31,593 $ — $ 31,593 SG&A 4,695 1,292 5,987 5,760 11,747 Total $ 32,965 $ 4,615 $ 37,580 $ 5,760 $ 43,340 Transformation Charges SG&A — — — 27,352 27,352 $ — $ — $ — $ 27,352 $ 27,352 Total Realignment and Transformation Charges COS $ 28,270 $ 3,323 $ 31,593 $ — $ 31,593 SG&A 4,695 1,292 5,987 33,112 39,099 Total $ 32,965 $ 4,615 $ 37,580 $ 33,112 $ 70,692 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) FPD FCD Subtotal–Reportable Segments Eliminations and All Other Consolidated Total Realignment Charges Restructuring Charges COS $ 110,934 $ 28,316 $ 139,250 $ — $ 139,250 SG&A 19,838 9,868 29,706 317 30,023 Income tax expense(1) 18,700 1,800 20,500 — 20,500 $ 149,472 $ 39,984 $ 189,456 $ 317 $ 189,773 Non-Restructuring Charges COS $ 78,015 $ 13,790 $ 91,805 $ 8 $ 91,813 SG&A 40,074 7,546 47,620 17,739 65,359 $ 118,089 $ 21,336 $ 139,425 $ 17,747 $ 157,172 Total Realignment Charges COS $ 188,949 $ 42,106 $ 231,055 $ 8 $ 231,063 SG&A 59,912 17,414 77,326 18,056 95,382 Income tax expense(1) 18,700 1,800 20,500 — 20,500 Total $ 267,561 $ 61,320 $ 328,881 $ 18,064 $ 346,945 ____________________________ (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 nine months ended September 30, 2019 and 2018 : (Amounts in thousands) 2019 2018 Balance at December 31 $ 11,927 $ 39,230 Charges, net of adjustments 5,817 11,314 Cash expenditures (8,196 ) (15,935 ) Other non-cash adjustments, including currency (461 ) (15,196 ) Balance at September 30 $ 9,087 $ 19,413

Basis of Presentation and Acc_3

Basis of Presentation and Accounting Policies (Details) $ in Millions	9 Months Ended
	Sep. 30, 2019segments	Jan. 01, 2019USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of operating segments | segments	2
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Right-of-use asset		$ 210
Lease liabilities		$ 210

Revenue Recognition (Narrative)

Revenue Recognition (Narrative) (Details) - segments	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Disaggregation of Revenue [Line Items]
Number of operating segments			2
Transferred over Time
Disaggregation of Revenue [Line Items]
Revenue from products and services	21.00%	21.00%	18.00%	22.00%
Transferred at Point in Time
Disaggregation of Revenue [Line Items]
Revenue from products and services	79.00%	79.00%	82.00%	78.00%

Revenue Recognition (Disaggrega

Revenue Recognition (Disaggregation of revenue) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Disaggregation of Revenue [Line Items]
Sales	$ 996,544	$ 952,716	$ 2,876,679	$ 2,845,798
Original Equipment
Disaggregation of Revenue [Line Items]
Sales	508,946	495,733	1,421,398	1,445,627
Aftermarket
Disaggregation of Revenue [Line Items]
Sales	487,598	456,983	1,455,281	1,400,171
FPD
Disaggregation of Revenue [Line Items]
Sales	682,798	647,298	1,965,523	1,958,806
FPD | Original Equipment
Disaggregation of Revenue [Line Items]
Sales	256,664	255,869	706,092	756,296
FPD | Aftermarket
Disaggregation of Revenue [Line Items]
Sales	426,134	391,429	1,259,431	1,202,510
FCD
Disaggregation of Revenue [Line Items]
Sales	313,746	305,418	911,156	886,992
FCD | Original Equipment
Disaggregation of Revenue [Line Items]
Sales	252,282	239,864	715,306	689,331
FCD | Aftermarket
Disaggregation of Revenue [Line Items]
Sales	61,464	65,554	195,850	197,661
North America
Disaggregation of Revenue [Line Items]
Sales	413,464	392,401	1,200,839	1,173,474
North America | FPD
Disaggregation of Revenue [Line Items]
Sales	279,583	251,503	797,092	774,602
North America | FCD
Disaggregation of Revenue [Line Items]
Sales	133,881	140,898	403,747	398,872
Latin America
Disaggregation of Revenue [Line Items]
Sales	59,020	80,628	158,290	176,798
Latin America | FPD
Disaggregation of Revenue [Line Items]
Sales	51,338	76,167	134,716	161,344
Latin America | FCD
Disaggregation of Revenue [Line Items]
Sales	7,682	4,461	23,574	15,454
Middle East And Africa
Disaggregation of Revenue [Line Items]
Sales	111,703	104,574	319,178	340,451
Middle East And Africa | FPD
Disaggregation of Revenue [Line Items]
Sales	87,982	70,666	249,694	240,497
Middle East And Africa | FCD
Disaggregation of Revenue [Line Items]
Sales	23,721	33,908	69,484	99,954
Asia Pacific
Disaggregation of Revenue [Line Items]
Sales	215,834	185,116	594,404	584,392
Asia Pacific | FPD
Disaggregation of Revenue [Line Items]
Sales	129,047	119,258	367,204	385,955
Asia Pacific | FCD
Disaggregation of Revenue [Line Items]
Sales	86,787	65,858	227,200	198,437
Europe
Disaggregation of Revenue [Line Items]
Sales	196,523	189,997	603,968	570,683
Europe | FPD
Disaggregation of Revenue [Line Items]
Sales	134,848	129,704	416,817	396,408
Europe | FCD
Disaggregation of Revenue [Line Items]
Sales	$ 61,675	$ 60,293	$ 187,151	$ 174,275

Revenue Recognition (Performanc

Revenue Recognition (Performance obligations) (Details) $ in Millions	Sep. 30, 2019USD ($)
Revenue from Contract with Customer [Abstract]
Revenue, remaining performance obligation, amount	$ 579
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-10-01
Revenue from Contract with Customer [Abstract]
Revenue, remaining performance obligation, amount	$ 152
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, period	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
Revenue from Contract with Customer [Abstract]
Revenue, remaining performance obligation, amount	$ 427
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, period	1 year

Revenue Recognition (Contract L

Revenue Recognition (Contract Liabilities) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Change In Contract With Customer, Asset And Liability [Roll Forward]
Contract Assets, Beginning balance	$ 228,579
Contract Liabilities, Current, Beginning balance	202,458
Revenue recognized that was included in contract liabilities at the beginning of the period	(21,323)	$ (3,410)
Amounts transferred from contract assets to receivables	(36,325)	$ (54,822)
Contract Assets, Ending balance	258,299
Contract Liabilities, Current, Ending balance	219,680
Short-term Contract with Customer
Change In Contract With Customer, Asset And Liability [Roll Forward]
Contract Assets, Beginning balance	228,579
Revenue recognized that was included in contract liabilities at the beginning of the period	0
Revenue recognized in the period in excess of billings	584,784
Billings arising during the period in excess of revenue recognized	0
Amounts transferred from contract assets to receivables	(544,533)
Other contract asset, net	(10,531)
Long-term Contract with Customer
Change In Contract With Customer, Asset And Liability [Roll Forward]
Contract Assets, Beginning balance	10,967
Revenue recognized that was included in contract liabilities at the beginning of the period	0
Revenue recognized in the period in excess of billings	0
Billings arising during the period in excess of revenue recognized	0
Amounts transferred from contract assets to receivables	(3,414)
Other contract asset, net	539
Contract Assets, Ending balance	8,092
Short-term Contract with Customer, Liability
Change In Contract With Customer, Asset And Liability [Roll Forward]
Contract Liabilities, Current, Beginning balance	202,458
Revenue recognized that was included in contract liabilities at the beginning of the period	(129,621)
Revenue recognized in the period in excess of billings	0
Billings arising during the period in excess of revenue recognized	148,552
Amounts transferred from contract assets to receivables	0
Other contract liability, net	(1,709)
Long-term Contract With Customer, Liability
Change In Contract With Customer, Asset And Liability [Roll Forward]
Contract Liabilities, Noncurrent, Beginning balance	1,370
Revenue recognized that was included in contract liabilities at the beginning of the period	0
Revenue recognized in the period in excess of billings	0
Billings arising during the period in excess of revenue recognized	0
Amounts transferred from contract assets to receivables	0
Other contract liability, net	248
Contract Liabilities, Noncurrent, Ending balance	$ 1,618

Dispositions (Details)

Dispositions (Details) $ in Thousands	Aug. 09, 2018site	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)	Jun. 30, 2018USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Schedule of Equity Method Investments [Line Items]
Loss on sale of business		$ 0	$ (7,727)		$ 0	$ (7,727)
FPD
Schedule of Equity Method Investments [Line Items]
Divestiture of two Locations | site	2
Pretax impairment charge attributable to product lines				$ 17,400			$ 25,100
Loss on sale of business			$ (7,700)
Inventory write-down				7,700
Asset impairment charges				9,700
Cash transfer from sale, net				$ 3,700
Revenues								$ 42,000

Leases (Narrative) (Details)

Leases (Narrative) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2019	Jan. 01, 2019
Lessee, Lease, Description [Line Items]
Lease payments, leases not yet commenced	$ 41.9
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term	34 years
Accounting Standards Update 2016-02
Lessee, Lease, Description [Line Items]
Right-of-use asset		$ 210
Lease liabilities		$ 210

Leases (Other Information) (Det

Leases (Other Information) (Details) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2019USD ($)	Sep. 30, 2019USD ($)
Operating Leases:
ROU assets recorded under operating leases	$ 208,943	$ 208,943
Accumulated amortization associated with operating leases	(26,670)	(26,670)
Total operating leases ROU assets, net	182,273	182,273
Operating lease liabilities	35,042	35,042
Liabilities recorded under operating leases (non-current)	146,839	146,839
Total operating leases liabilities	181,881	181,881
Operating lease expense	13,858	43,864
Variable lease expense	1,119	3,999
Total operating lease expense	14,977	47,863
Finance Leases:
ROU assets recorded under finance leases	16,230	16,230
Accumulated depreciation associated with finance leases	(5,015)	(5,015)
Total finance leases ROU assets, net	11,215	11,215
Total finance lease liabilities	11,246	11,246
Amortization of finance lease ROU assets	993	3,280
Interest on lease liabilities	102	253
Total finance lease expense	$ 1,095	$ 3,533

Leases (Supplemental Cash Flows

Leases (Supplemental Cash Flows Information) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2019USD ($)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 39,642
Financing cash flows from finance leases	4,177
ROU assets obtained in exchange for lease obligations:
Operating leases	15,739
Finance leases	$ 10,184
Weighted average remaining lease term (in years)
Operating leases	9 years
Finance leases	4 years
Weighted average discount rate (percent)
Operating leases	4.60%
Finance leases	3.70%

Leases (Future Lease Payments)

Leases (Future Lease Payments) (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Operating Leases
2019 (excluding the nine months ended September 30, 2019)	$ 10,769
2020	39,425
2021	30,498
2022	25,032
2023	21,235
Thereafter	95,094
Total future minimum lease payments	222,053
Less: Imputed interest	(40,172)
Total	181,881
Other current liabilities	35,042
Operating lease liabilities	146,839
Total operating leases liabilities	181,881
Finance Lease, Liability, Payment, Due [Abstract]
2019 (excluding the nine months ended September 30, 2019)	1,321
2020	4,353
2021	2,854
2022	1,623
2023	850
Thereafter	945
Total future minimum lease payments	11,946
Less: Imputed interest	(700)
Total	11,246
Debt due within one year	4,342
Long-term debt due after one year	6,904
Total	$ 11,246
2019		$ 68,443
2020		49,874
2021		38,446
2022		28,496
2023		21,473
Thereafter		66,518
Total future minimum lease payments		$ 273,250

Stock-Based Compensation Plan_2

Stock-Based Compensation Plans (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options, outstanding, number (in shares)	114,943		114,943
Options, grants in period, weighted average grant date fair value	$ 2		$ 2
Nonvested awards, compensation cost not yet recognized, period for recognition			3 years
Unearned compensation expense	$ 0.3		$ 0.3
Options, grants in period, gross (in shares)			0	0
Grants in period, vested (in shares)			0	0
Plan 2010
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized to issue under share based compensation plans (in shares)	8,700,000		8,700,000
Common stock available under stock option plan (in shares)	1,526,608		1,526,608
Share-based compensation arrangement age requirement to vest over original vesting period			55 years
Time in service requirement to vest over original vesting period			10 years
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			3 years
Nonvested awards, compensation cost not yet recognized, period for recognition			1 year
Nonvested awards, compensation cost not yet recognized	$ 31.5		$ 31.5		$ 24.3
Equity instruments other than options, vested in period, fair value	0.3	$ 0.2	16.5	$ 14
Allocated share-based compensation expense, net of tax	5.5	4.4	17.4	10.9
Allocated share-based compensation expense	$ 7.2	$ 5.7	$ 22.5	$ 14.1
Shares forfeited (in shares)			115,302	100,033
Decrease in stock-based compensation expense			$ 4.5	$ 5.4
Equity instruments other than options, nonvested, number (in shares)	1,754,343		1,754,343		1,530,214
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			36 months
Equity instruments other than options, nonvested, number (in shares)	687,000		687,000
Award requisite service period (in years)			3 years
Estimated vesting of shares based on performance shares (in shares)	689,000		689,000
Minimum | Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage			0.00%
Options, vested and expected to vest, exercisable, number (in shares)	0		0
Maximum | Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage			200.00%
Options, vested and expected to vest, exercisable, number (in shares)	1,374,000		1,374,000

Stock-Based Compensation Plan_3

Stock-Based Compensation Plans (Information Regarding Restricted Shares) (Details) - Restricted Stock	9 Months Ended
	Sep. 30, 2019$ / sharesshares
Shares
Outstanding, Shares, Beginning balance (in shares) | shares	1,530,214
Granted, Shares (in shares) | shares	807,439
Vested, Shares (in shares) | shares	(386,306)
Forfeited, Shares (in shares) | shares	(197,004)
Outstanding, Shares, Ending balance (in shares) | shares	1,754,343
Weighted Average Grant-Date Fair Value
Outstanding, Weighted Average Grant-Date Fair Value, Beginning balance (in dollars per share) | $ / shares	$ 45.06
Granted, Weighted Average Grant-Date Fair Value (in dollars per share) | $ / shares	46.91
Vested, Weighted Average Grant-Date Fair Value (in dollars per share) | $ / shares	42.78
Forfeited, Weighted Average Grant-Date Fair Value (in dollars per share) | $ / shares	42.32
Outstanding, Weighted Average Grant-Date Fair Value, Ending balance (in dollars per share) | $ / shares	$ 46.72

Derivative Instruments and He_3

Derivative Instruments and Hedges (Textual) (Details) € in Millions, $ in Millions	9 Months Ended
	Sep. 30, 2019USD ($)	Dec. 31, 2018USD ($)	Mar. 31, 2015EUR (€)
2022 EUR Senior Notes
Derivative [Line Items]
Designated amount, net investment hedge			€ 255.7
Debt Instrument, face amount			€ 500
Not Designated as Hedging Instrument | Forward Exchange Contract
Derivative [Line Items]
Derivative, notional amount | $	$ 377.6	$ 280.9
Minimum remaining maturity of foreign currency derivatives	10 days
Maximum remaining maturity of foreign currency derivatives	35 months

Derivative Instruments and He_4

Derivative Instruments and Hedges (Fair Value Balance Sheet Disclosures) (Details) - Not Designated as Hedging Instrument - Foreign Exchange Contract - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Derivative [Line Items]
Current derivative assets	$ 1,787	$ 535
Noncurrent derivative assets	0	5
Current derivative liabilities	4,841	3,285
Noncurrent derivative liabilities	$ 388	$ 2

Derivative Instruments and He_5

Derivative Instruments and Hedges (Fair Value of Forward Exchange Contracts) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Forward Contracts
Derivative [Line Items]
Losses recognized in income	$ (1,817)	$ (1,157)	$ (4,511)	$ (2,384)

Debt (Schedule of Debt) (Detail

Debt (Schedule of Debt) (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Finance lease obligations and other borrowings	$ 21,945	$ 13,541
Debt and finance lease obligations	1,360,004	1,483,047
Less amounts due within one year	9,739	68,218
Total debt due after one year	$ 1,350,265	$ 1,414,829
2022 EUR Senior Notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)	1.25%	1.25%
Debt instrument, unamortized discount (premium) and debt issuance costs, net	$ 2,867	$ 3,914
Long-term debt	$ 542,033	$ 569,536
2023 Senior notes [Member]
Debt Instrument [Line Items]
Stated interest rate (as a percent)	4.00%	4.00%
Debt instrument, unamortized discount (premium) and debt issuance costs, net	$ 1,882	$ 2,192
Long-term debt	$ 298,118	$ 297,808
2022 Senior notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)	3.50%	3.50%
Debt instrument, unamortized discount (premium) and debt issuance costs, net	$ 2,092	$ 2,589
Long-term debt	$ 497,908	$ 497,411
Term Loan Facility
Debt Instrument [Line Items]
Effective interest rate (as a percent)	0.00%	4.30%
Debt issuance costs, net	$ 0	$ 249
Term Loan Facility	$ 0	$ 104,751

Debt (Details Textual)

Debt (Details Textual) - USD ($)	Sep. 16, 2019	Jul. 16, 2019	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Line of Credit Facility [Line Items]
Payments on long-term debt			$ 105,000,000	$ 45,000,000
Senior Credit Facility
Line of Credit Facility [Line Items]
Letters of credit outstanding			79,500,000		$ 92,900,000
Revolving Credit Facility
Line of Credit Facility [Line Items]
Revolving credit facility			0		0
Line of credit facility, current borrowing capacity			$ 720,500,000		$ 513,700,000
Revolving Credit Facility | New Credit Agreement
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity		$ 800,000,000
Revolving Credit Facility | New Senior Credit Facility
Line of Credit Facility [Line Items]
Maximum increase in borrowing capacity		400,000,000
Revolving credit facility		75,000,000
Payments on long-term debt	$ 75,000,000
Line of credit, commitment fee (as a percentage)			0.20%
Letter of Credit | New Senior Credit Facility
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity		750,000,000
Swing Line Loans | New Senior Credit Facility
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity		$ 30,000,000
LIBOR | Revolving Credit Facility | New Senior Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate		1.375%
Base Rate | Revolving Credit Facility | New Senior Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate		0.375%
Minimum | Revolving Credit Facility | New Senior Credit Facility
Line of Credit Facility [Line Items]
Commitment fee percentage for unused capacity		0.09%
Minimum | LIBOR | Revolving Credit Facility | New Senior Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate		1.00%
Minimum | Base Rate | Revolving Credit Facility | New Senior Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate		0.00%
Maximum | Revolving Credit Facility | New Senior Credit Facility
Line of Credit Facility [Line Items]
Commitment fee percentage for unused capacity		0.30%
Maximum | LIBOR | Revolving Credit Facility | New Senior Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate		1.75%
Maximum | Base Rate | Revolving Credit Facility | New Senior Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate		0.75%

Fair Value (Details)

Fair Value (Details) $ in Millions	Sep. 30, 2019USD ($)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	$ 1,338.1
Estimate of Fair Value Measurement
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	$ 1,366.9

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Net Components of Inventory
Raw materials	$ 328,902	$ 310,204
Work in process	239,339	191,660
Finished goods	195,259	205,814
Less: Excess and obsolete reserve	(76,261)	(73,807)
Inventories, net	$ 687,239	$ 633,871

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Earnings Per Share [Abstract]
Net earnings of Flowserve Corporation	$ 68,443	$ 28,205	$ 183,875	$ 56,568
Dividends on restricted shares not expected to vest	0	0	0	0
Earnings attributable to common and participating shareholders	$ 68,443	$ 28,205	$ 183,875	$ 56,568
Weighted average shares:
Common stock (in shares)	131,122	130,823	131,070	130,784
Participating securities (in shares)	23	20	22	32
Denominator for basic earnings per common share (in shares)	131,145	130,843	131,092	130,816
Effect of potentially dilutive securities (in shares)	701	507	605	408
Denominator for diluted earnings per common share (in shares)	131,846	131,350	131,697	131,224
Earnings per common share:
Basic (in dollars per share)	$ 0.52	$ 0.22	$ 1.40	$ 0.43
Diluted (in dollars per share)	$ 0.52	$ 0.21	$ 1.40	$ 0.43

Legal Matters and Contingenci_2

Legal Matters and Contingencies (Details)	Sep. 30, 2019site
Commitments and Contingencies Disclosure [Abstract]
Number of former public waste disposal sites	5

Retirement and Postretirement_3

Retirement and Postretirement Benefits (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Domestic Plan
Components of the net periodic cost for retirement and postretirement benefits
Service cost	$ 5.9	$ 5.5	$ 17.4	$ 16.6
Interest cost	4.5	3.9	13.2	11.8
Expected return on plan assets	(6.4)	(6.4)	(19.2)	(19.3)
Amortization of prior service cost	0	0	0.1	0.1
Amortization of unrecognized net loss (gain)	1	1.3	2.8	4.1
Net periodic cost recognized	5	4.3	14.3	13.3
Foreign Plan
Components of the net periodic cost for retirement and postretirement benefits
Service cost	1.3	1.7	4.2	5.3
Interest cost	2	2.2	6.5	6.6
Expected return on plan assets	(1.7)	(2.1)	(5.5)	(6.4)
Amortization of prior service cost	0.1	0	0.2	0
Amortization of unrecognized net loss (gain)	0.6	0.9	2.1	2.7
Net periodic cost recognized	2.3	2.7	7.5	8.2
Postretirement Medical Benefits
Components of the net periodic cost for retirement and postretirement benefits
Service cost	0	0	0	0
Interest cost	0.2	0.2	0.5	0.6
Expected return on plan assets	0	0	0	0
Amortization of prior service cost	0	0	0.1	0.1
Amortization of unrecognized net loss (gain)	0	(0.2)	(0.1)	(0.6)
Net periodic cost recognized	$ 0.2	$ 0	$ 0.5	$ 0.1

Shareholders' Equity (Details)

Shareholders' Equity (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Nov. 13, 2014
Equity, Class of Treasury Stock [Line Items]
Cash dividends declared per share (in dollars per share)	$ 0.19	$ 0.19	$ 0.57	$ 0.57
Repurchase of shares (in shares)	113,656	0	113,656	0
Treasury Stock, Value, Acquired, Cost Method	$ 5,400,000		$ 5,400,000
Remaining authorized repurchase capacity	$ 155,300,000		$ 155,300,000
Share repurchase program 2014
Equity, Class of Treasury Stock [Line Items]
Authorized amount to be repurchased					$ 500,000,000

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income Tax Disclosure [Abstract]
Income before income tax	$ 96,210	$ 44,351	$ 255,180	$ 97,713
Provision for income taxes	$ (25,647)	$ (14,912)	$ (64,646)	$ (37,028)
Effective tax rate (as a percent)	26.70%	33.60%	25.30%	37.90%
Unrecognized tax benefits, period decrease			$ 1,800
Unrecognized tax benefits approximate amount of estimated reduction within the next twelve months	$ 6,000		$ 6,000

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Summarized financial information of the reportable segments
Sales	$ 996,544	$ 952,716	$ 2,876,679	$ 2,845,798
Segment operating income	109,560	62,191	298,809	154,327
Operating Segments
Summarized financial information of the reportable segments
Sales	996,544	952,716	2,876,679	2,845,798
Segment operating income	135,507	112,910	382,713	259,501
Intersegment sales
Summarized financial information of the reportable segments
Sales	(1,014)	(1,428)	(3,965)	(4,928)
Segment operating income	(25,947)	(50,719)	(83,904)	(105,174)
FPD
Summarized financial information of the reportable segments
Sales	682,798	647,298	1,965,523	1,958,806
FPD | Operating Segments
Summarized financial information of the reportable segments
Sales	682,798	647,298	1,965,523	1,958,806
Segment operating income	85,461	56,480	242,085	122,760
FPD | Intersegment sales
Summarized financial information of the reportable segments
Sales	(52)	667	1,249	2,038
FCD
Summarized financial information of the reportable segments
Sales	313,746	305,418	911,156	886,992
FCD | Operating Segments
Summarized financial information of the reportable segments
Sales	313,746	305,418	911,156	886,992
Segment operating income	50,046	56,430	140,628	136,741
FCD | Intersegment sales
Summarized financial information of the reportable segments
Sales	1,066	761	2,716	2,890
Flowserve Pump Division and Flowserve Control Division | Intersegment sales
Summarized financial information of the reportable segments
Sales	$ 1,014	$ 1,428	$ 3,965	$ 4,928

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Components of AOCI) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Jun. 30, 2019	Jan. 01, 2019	Jun. 30, 2018	Jan. 01, 2018
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	$ (561,825)	$ (537,540)	$ (569,430)	$ (501,624)
Other comprehensive income (loss) before reclassifications	(28,372)	(18,846)	(23,778)	(58,504)
Amounts reclassified from AOCL	1,464	1,828	4,475	5,570
Other comprehensive income (loss)	(26,908)	(17,018)	(19,303)	(52,934)
Ending balance	(588,733)	(554,558)	(588,733)	(554,558)
Accumulated other comprehensive gain (loss), accumulated net gain (loss) from net investment hedge	9,300	1,500	5,900	19,800
Foreign currency translation items
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(443,828)	(426,327)	(447,925)	(384,779)
Other comprehensive income (loss) before reclassifications	(30,600)	(19,669)	(26,503)	(61,217)
Amounts reclassified from AOCL	0	0	0	0
Other comprehensive income (loss)	(30,600)	(19,669)	(26,503)	(61,217)
Ending balance	(474,428)	(445,996)	(474,428)	(445,996)
Pension and other post-retirement effects
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(117,244)	(110,248)	(120,647)	(115,755)
Other comprehensive income (loss) before reclassifications	2,184	771	2,576	2,536
Amounts reclassified from AOCL	1,464	1,828	4,475	5,570
Other comprehensive income (loss)	3,648	2,599	7,051	8,106
Ending balance	(113,596)	(107,649)	(113,596)	(107,649)
Cash flow hedging activity
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(753)	(965)	(858)	(1,090)
Other comprehensive income (loss) before reclassifications	44	52	149	177
Amounts reclassified from AOCL	0	0	0	0
Other comprehensive income (loss)	44	52	149	177
Ending balance	(709)	(913)	(709)	(913)
Noncontrolling Interests
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Other comprehensive income (loss)	(66)	343	599	1,152
Accumulated other comprehensive income (loss), foreign currency translation adjustment, net of tax	$ 5,100	$ 5,000	$ 5,100	$ 5,000	$ 5,200	$ 4,500	$ 4,700	$ 3,800

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Loss (Reclassifications out of AOCI) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net of tax	$ (1,464)	$ (1,828)	$ (4,475)	$ (5,570)
Amortization of actuarial losses
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Reclassification	(1,564)	(2,061)	(4,727)	(6,231)
Prior service costs
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Reclassification	(131)	(78)	(408)	(237)
Pension and other post-retirement effects
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Tax benefit	231	311	660	898
Net of tax	$ (1,464)	$ (1,828)	$ (4,475)	$ (5,570)

Realignment Programs (Details)

Realignment Programs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		57 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019
Restructuring Cost and Reserve [Line Items]
Transformation Charges	$ 5,058	$ 23,986	$ 21,044	$ 27,352
Total Realignment Program Charges	4,794	11,127	(832)	43,340	$ 346,945
Restructuring Charges	1,045	4,210	(13,476)	15,201	189,773
Non-Restructuring Charges	3,749	6,917	12,644	28,139	157,172
Total Realignment and Transformation Charges	9,852	35,113	20,212	70,692
Restructuring Reserve [Roll Forward]
Beginning Balance			11,927	39,230
Charges, net of adjustments	1,045	4,210	(13,476)	15,201	189,773
Ending Balance	9,087	19,413	9,087	19,413	9,087
Severance
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	(738)	(636)	2,708	4,010	119,613
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	(738)	(636)	2,708	4,010	119,613
Contract Termination
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	3	3	51	3	1,001
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	3	3	51	3	1,001
Asset Write-Downs
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	24	459	(19,295)	3,908	6,729
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	24	459	(19,295)	3,908	6,729
Other
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	1,756	4,384	3,060	7,280	62,430
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	1,756	4,384	3,060	7,280	62,430
Charges, net of adjustments
Restructuring Cost and Reserve [Line Items]
Restructuring Charges			5,817	11,314
Restructuring Reserve [Roll Forward]
Charges, net of adjustments			5,817	11,314
Cash expenditures
Restructuring Reserve [Roll Forward]
Cash expenditures			(8,196)	(15,935)
Other non-cash adjustments, including currency
Restructuring Reserve [Roll Forward]
Other non-cash adjustments, including currency			(461)	(15,196)
Cost of Sales
Restructuring Cost and Reserve [Line Items]
Total Realignment Program Charges	3,420	8,208	12,786	31,593	231,063
Restructuring Charges	1,008	4,405	3,183	13,902	139,250
Non-Restructuring Charges	2,412	3,803	9,603	17,691	91,813
Total Realignment and Transformation Charges	3,420	8,208	12,786	31,593
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	1,008	4,405	3,183	13,902	139,250
Cost of Sales | Severance
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	(729)	(590)	1,099	2,764	86,259
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	(729)	(590)	1,099	2,764	86,259
Cost of Sales | Contract Termination
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	3	3	51	3	958
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	3	3	51	3	958
Cost of Sales | Asset Write-Downs
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	19	449	(799)	3,898	23,536
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	19	449	(799)	3,898	23,536
Cost of Sales | Other
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	1,715	4,543	2,832	7,237	28,497
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	1,715	4,543	2,832	7,237	28,497
Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Transformation Charges	5,058	23,986	21,044	27,352
Total Realignment Program Charges	1,374	2,919	(13,618)	11,747	95,382
Restructuring Charges	37	(195)	(16,659)	1,299	30,023
Non-Restructuring Charges	1,337	3,114	3,041	10,448	65,359
Total Realignment and Transformation Charges	6,432	26,905	7,426	39,099
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	37	(195)	(16,659)	1,299	30,023
Selling, General and Administrative Expenses | Severance
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	(9)	(46)	1,609	1,246	33,354
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	(9)	(46)	1,609	1,246	33,354
Selling, General and Administrative Expenses | Contract Termination
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	0	0	0	0	43
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	0	0	0	0	43
Selling, General and Administrative Expenses | Asset Write-Downs
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	5	10	(18,496)	10	(16,807)
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	5	10	(18,496)	10	(16,807)
Selling, General and Administrative Expenses | Other
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	41	(159)	228	43	13,433
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	41	(159)	228	43	13,433
Income tax expense
Restructuring Cost and Reserve [Line Items]
Total Realignment Program Charges					20,500
Restructuring Charges					20,500
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					20,500
Income tax expense | Severance
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					0
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					0
Income tax expense | Contract Termination
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					0
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					0
Income tax expense | Asset Write-Downs
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					0
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					0
Income tax expense | Other
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					20,500
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					20,500
FPD
Restructuring Cost and Reserve [Line Items]
Total Realignment Program Charges	2,986	6,897	(4,879)	32,965	267,561
Restructuring Charges	234	3,282	(15,180)	11,449	149,472
Non-Restructuring Charges	2,752	3,615	10,301	21,516	118,089
Total Realignment and Transformation Charges	2,986	6,897	(4,879)	32,965
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	234	3,282	(15,180)	11,449	149,472
FPD | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Total Realignment Program Charges	2,606	7,920	11,423	28,270	188,949
Restructuring Charges	197	3,487	1,892	10,532	110,934
Non-Restructuring Charges	2,409	4,433	9,531	17,738	78,015
Total Realignment and Transformation Charges	2,606	7,920	11,423	28,270
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	197	3,487	1,892	10,532	110,934
FPD | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Total Realignment Program Charges	380	(1,023)	(16,302)	4,695	59,912
Restructuring Charges	37	(205)	(17,072)	917	19,838
Non-Restructuring Charges	343	(818)	770	3,778	40,074
Total Realignment and Transformation Charges	380	(1,023)	(16,302)	4,695
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	37	(205)	(17,072)	917	19,838
FPD | Income tax expense
Restructuring Cost and Reserve [Line Items]
Total Realignment Program Charges					18,700
Restructuring Charges					18,700
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					18,700
FCD
Restructuring Cost and Reserve [Line Items]
Total Realignment Program Charges	814	514	1,810	4,615	61,320
Restructuring Charges	811	919	1,704	3,715	39,984
Non-Restructuring Charges	3	(405)	106	900	21,336
Total Realignment and Transformation Charges	814	514	1,810	4,615
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	811	919	1,704	3,715	39,984
FCD | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Total Realignment Program Charges	814	288	1,363	3,323	42,106
Restructuring Charges	811	918	1,291	3,370	28,316
Non-Restructuring Charges	3	(630)	72	(47)	13,790
Total Realignment and Transformation Charges	814	288	1,363	3,323
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	811	918	1,291	3,370	28,316
FCD | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Total Realignment Program Charges	0	226	447	1,292	17,414
Restructuring Charges	0	1	413	345	9,868
Non-Restructuring Charges	0	225	34	947	7,546
Total Realignment and Transformation Charges	0	226	447	1,292
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	0	1	413	345	9,868
FCD | Income tax expense
Restructuring Cost and Reserve [Line Items]
Total Realignment Program Charges					1,800
Restructuring Charges					1,800
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					1,800
Subtotal–Reportable Segments
Restructuring Cost and Reserve [Line Items]
Total Realignment Program Charges	3,800	7,411	(3,069)	37,580	328,881
Restructuring Charges	1,045	4,201	(13,476)	15,164	189,456
Non-Restructuring Charges	2,755	3,210	10,407	22,416	139,425
Total Realignment and Transformation Charges	3,800	7,411	(3,069)	37,580
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	1,045	4,201	(13,476)	15,164	189,456
Subtotal–Reportable Segments | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Total Realignment Program Charges	3,420	8,208	12,786	31,593	231,055
Restructuring Charges	1,008	4,405	3,183	13,902	139,250
Non-Restructuring Charges	2,412	3,803	9,603	17,691	91,805
Total Realignment and Transformation Charges	3,420	8,208	12,786	31,593
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	1,008	4,405	3,183	13,902	139,250
Subtotal–Reportable Segments | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Total Realignment Program Charges	380	(797)	(15,855)	5,987	77,326
Restructuring Charges	37	(204)	(16,659)	1,262	29,706
Non-Restructuring Charges	343	(593)	804	4,725	47,620
Total Realignment and Transformation Charges	380	(797)	(15,855)	5,987
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	37	(204)	(16,659)	1,262	29,706
Subtotal–Reportable Segments | Income tax expense
Restructuring Cost and Reserve [Line Items]
Total Realignment Program Charges					20,500
Restructuring Charges					20,500
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					20,500
Eliminations and All Other
Restructuring Cost and Reserve [Line Items]
Transformation Charges	5,058	23,986	21,044	27,352
Total Realignment Program Charges	994	3,716	2,237	5,760	18,064
Restructuring Charges	0	9	0	37	317
Non-Restructuring Charges	994	3,707	2,237	5,723	17,747
Total Realignment and Transformation Charges	6,052	27,702	23,281	33,112
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	0	9	0	37	317
Eliminations and All Other | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Total Realignment Program Charges	0	0	0	0	8
Restructuring Charges	0	0	0	0	0
Non-Restructuring Charges	0	0	0	0	8
Total Realignment and Transformation Charges	0	0	0	0
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	0	0	0	0	0
Eliminations and All Other | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Transformation Charges	5,058	23,986	21,044	27,352
Total Realignment Program Charges	994	3,716	2,237	5,760	18,056
Restructuring Charges	0	9	0	37	317
Non-Restructuring Charges	994	3,707	2,237	5,723	17,739
Total Realignment and Transformation Charges	6,052	27,702	23,281	33,112
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	0	$ 9	0	$ 37	317
Eliminations and All Other | Income tax expense
Restructuring Cost and Reserve [Line Items]
Total Realignment Program Charges					0
Restructuring Charges					0
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					0
Realignment Programs
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost	$ 350,000		350,000		$ 350,000
Total Realignment Program Charges			$ 346,900

Uncategorized Items - a09302019

Label	Element	Value
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 19,642,000
Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 19,642,000