Flowserve (FLS) 10-Q 5 Aug 21 2021 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2021	Jul. 30, 2021
Cover [Abstract]
Entity Central Index Key	0000030625
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
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 700,
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		130,262,789

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Statement [Abstract]
Sales	$ 898,178	$ 925,012	$ 1,755,486	$ 1,818,526
Cost of sales	(619,940)	(655,305)	(1,226,348)	(1,282,360)
Gross profit	278,238	269,707	529,138	536,166
Selling, general and administrative expense	(210,789)	(229,343)	(409,104)	(474,794)
Gain on sale of business	1,806	0	1,806	0
Net earnings from affiliates	2,907	3,088	6,425	6,283
Operating income	72,162	43,452	128,265	67,655
Interest expense	(14,322)	(12,935)	(31,101)	(25,898)
Loss on extinguishment of debt			(7,610)	0
Interest income	465	1,149	1,067	2,898
Other income (expense), net	(7,850)	(18,907)	(19,213)	19,295
Earnings before income taxes	50,455	12,759	71,408	63,950
Provision for income taxes	(2,711)	(4,485)	(6,503)	(41,453)
Net earnings, including noncontrolling interests	47,744	8,274	64,905	22,497
Less: Net earnings attributable to noncontrolling interests	(2,390)	(2,142)	(5,471)	(4,243)
Net earnings attributable to Flowserve Corporation	$ 45,354	$ 6,132	$ 59,434	$ 18,254
Net earnings per share attributable to Flowserve Corporation common shareholders:
Basic (in dollars per share)	$ 0.35	$ 0.05	$ 0.46	$ 0.14
Diluted (in dollars per share)	$ 0.35	$ 0.05	$ 0.45	$ 0.14

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Statement of Comprehensive Income [Abstract]
Net earnings, including noncontrolling interests	$ 47,744	$ 8,274	$ 64,905	$ 22,497
Other comprehensive income (loss):
Foreign currency translation adjustments, net of taxes	13,998	19,048	3,109	(77,013)
Pension and other postretirement effects, net of taxes	2,059	1,758	6,318	8,067
Cash flow hedging activity	15	44	217	98
Other comprehensive income (loss)	16,072	20,850	9,644	(68,848)
Comprehensive income (loss), including noncontrolling interests	63,816	29,124	74,549	(46,351)
Comprehensive (income) loss attributable to noncontrolling interests	(2,403)	(2,079)	(5,633)	(5,018)
Comprehensive income (loss) attributable to Flowserve Corporation	$ 61,413	$ 27,045	$ 68,916	$ (51,369)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Statement of Comprehensive Income [Abstract]
Foreign currency translation, taxes	$ (6,401)	$ (1,188)	$ (5,747)	$ 5,974
Pension and other postretirement effects, taxes	$ (472)	$ (444)	$ (942)	$ (842)

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 630,397	$ 1,095,274
Accounts receivable, net of allowance for expected credit losses of $74,782 and $75,176, respectively	729,551	753,462
Contract assets, net of allowance for expected credit losses of $3,038 and $3,205, respectively	262,231	277,734
Inventories, net	690,145	667,228
Prepaid expenses and other	128,364	110,635
Total current assets	2,440,688	2,904,333
Property, plant and equipment, net of accumulated depreciation of $1,107,765 and $1,093,348, respectively	526,101	556,873
Operating lease right-of-use assets, net	204,075	208,125
Goodwill	1,213,103	1,224,886
Deferred taxes	46,904	30,538
Other intangible assets, net	160,653	168,496
Other assets, net of allowance for expected credit losses of $67,770 and $67,842, respectively	227,145	221,426
Total assets	4,818,669	5,314,677
Current liabilities:
Accounts payable	393,608	440,199
Accrued liabilities	422,161	463,222
Contract liabilities	209,092	194,227
Debt due within one year	9,599	8,995
Operating lease liabilities	35,256	34,990
Total current liabilities	1,069,716	1,141,633
Long-term debt due after one year	1,307,149	1,717,911
Operating lease liabilities	173,388	176,246
Retirement obligations and other liabilities	497,724	517,566
Commitments and contingencies (See Note 11)
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	494,221	502,227
Retained earnings	3,677,117	3,670,543
Treasury shares, at cost – 46,806 and 46,768 shares, respectively	(2,058,279)	(2,059,309)
Deferred compensation obligation	7,077	6,164
Accumulated other comprehensive loss	(600,143)	(609,625)
Total Flowserve Corporation shareholders’ equity	1,740,984	1,730,991
Noncontrolling interests	29,708	30,330
Total equity	1,770,692	1,761,321
Total liabilities and equity	$ 4,818,669	$ 5,314,677

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Current assets:
Allowance for doubtful accounts	$ 74,782	$ 75,176
Contract asset, allowance for doubtful accounts	3,038	3,205
Accumulated depreciation on property, plant and equipment	1,107,765	1,093,348
Other assets, allowance for credit loss	$ 67,770	$ 67,842
Shareholders’ equity:
Common shares, par value (in dollars per share)	$ 1.25	$ 1.25
Common shares, shares authorized (in shares)	305,000	305,000
Common shares, shares issued (in shares)	176,793	176,793
Treasury shares, shares (in shares)	46,806	46,768

Condensed Consolidated Statem_4

Condensed Consolidated Statement of Shareholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	ASU No. 2016-13 - Measurement of Credit Losses on Financial Instruments (Topic 326)	Common Stock	Capital in Excess of Par Value	Retained Earnings	Retained EarningsASU No. 2016-13 - Measurement of Credit Losses on Financial Instruments (Topic 326)	Treasury Stock	Deferred Compensation Obligation	Accumulated Other Comprehensive Income (Loss)	Non- controlling Interests
Balance — (in shares) at Dec. 31, 2019			176,793				46,262
Balance — at Dec. 31, 2019	$ 1,772,341	$ (7,291)	$ 220,991	$ 501,045	$ 3,652,244	$ (7,291)	$ (2,051,583)	$ 8,334	$ (584,292)	$ 25,602
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock activity under stock plans (in shares)							446
Stock activity under stock plans	(3,273)			(20,368)			$ 19,393	(2,298)
Stock-based compensation	18,475			18,475
Net earnings	22,497				18,254					4,243
Cash dividends declared	(52,737)				(52,737)
Repurchases of common shares (in shares)							(1,057)
Repurchases of common shares	(32,112)						$ (32,112)
Other comprehensive income (loss), net of tax	(68,848)								(69,624)	776
Other, net	(2,842)									(2,842)
Balance — (in shares) at Jun. 30, 2020			176,793				46,873
Balance — at Jun. 30, 2020	1,646,210		$ 220,991	499,152	3,610,470		$ (2,064,302)	6,036	(653,916)	27,779
Balance — (in shares) at Dec. 31, 2019			176,793				46,262
Balance — at Dec. 31, 2019	1,772,341	(7,291)	$ 220,991	501,045	3,652,244	(7,291)	$ (2,051,583)	8,334	(584,292)	25,602
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	81,259
Other comprehensive income (loss), net of tax	(50,226)
Balance — at Sep. 30, 2020	1,702,343
Balance — (in shares) at Dec. 31, 2019			176,793				46,262
Balance — at Dec. 31, 2019	1,772,341	$ (7,291)	$ 220,991	501,045	3,652,244	$ (7,291)	$ (2,051,583)	8,334	(584,292)	25,602
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	140,875
Other comprehensive income (loss), net of tax	$ (24,562)
Balance — (in shares) at Dec. 31, 2020	176,793		176,793				46,768
Balance — at Dec. 31, 2020	$ 1,761,321		$ 220,991	502,227	3,670,543		$ (2,059,309)	6,164	(609,625)	30,330
Balance — (in shares) at Mar. 31, 2020			176,793				47,002
Balance — at Mar. 31, 2020	1,639,833		$ 220,991	497,721	3,630,694		$ (2,069,063)	8,324	(674,829)	25,995
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock activity under stock plans (in shares)							129
Stock activity under stock plans	(260)			(2,733)			$ 4,761	(2,288)
Stock-based compensation	4,164			4,164
Net earnings	8,274				6,132					2,142
Cash dividends declared	(26,356)				(26,356)
Other comprehensive income (loss), net of tax	20,850								20,913	(63)
Other, net	(295)									(295)
Balance — (in shares) at Jun. 30, 2020			176,793				46,873
Balance — at Jun. 30, 2020	1,646,210		$ 220,991	499,152	3,610,470		$ (2,064,302)	6,036	(653,916)	27,779
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	58,762
Other comprehensive income (loss), net of tax	18,620
Balance — at Sep. 30, 2020	1,702,343
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	59,616
Other comprehensive income (loss), net of tax	$ 25,665
Balance — (in shares) at Dec. 31, 2020	176,793		176,793				46,768
Balance — at Dec. 31, 2020	$ 1,761,321		$ 220,991	502,227	3,670,543		$ (2,059,309)	6,164	(609,625)	30,330
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock activity under stock plans (in shares)							402
Stock activity under stock plans	(5,004)			(24,478)			$ 18,561	913
Stock-based compensation	16,472			16,472
Net earnings	64,905				59,434					5,471
Cash dividends declared	(52,860)				(52,860)
Repurchases of common shares (in shares)							(440)
Repurchases of common shares	(17,531)						$ (17,531)
Other comprehensive income (loss), net of tax	9,644								9,482	162
Other, net	$ (6,255)									(6,255)
Balance — (in shares) at Jun. 30, 2021	176,793		176,793				46,806
Balance — at Jun. 30, 2021	$ 1,770,692		$ 220,991	494,221	3,677,117		$ (2,058,279)	7,077	(600,143)	29,708
Balance — (in shares) at Mar. 31, 2021			176,793				46,496
Balance — at Mar. 31, 2021	1,741,786		$ 220,991	488,906	3,658,158		$ (2,045,937)	6,114	(616,200)	29,754
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock activity under stock plans (in shares)							1
Stock activity under stock plans	(327)			(1,397)			$ 107	963
Stock-based compensation	6,712			6,712
Net earnings	47,744				45,354					2,390
Cash dividends declared	(26,395)				(26,395)
Repurchases of common shares (in shares)							(311)
Repurchases of common shares	(12,449)						$ (12,449)
Other comprehensive income (loss), net of tax	16,072								16,058	14
Other, net	$ (2,451)								(1)	(2,450)
Balance — (in shares) at Jun. 30, 2021	176,793		176,793				46,806
Balance — at Jun. 30, 2021	$ 1,770,692		$ 220,991	$ 494,221	$ 3,677,117		$ (2,058,279)	$ 7,077	$ (600,143)	$ 29,708

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash flows – Operating activities:
Net earnings, including noncontrolling interests	$ 64,905	$ 22,497
Adjustments to reconcile net earnings to net cash provided (used) by operating activities:
Depreciation	44,491	41,711
Amortization of intangible and other assets	7,433	6,136
Loss on extinguishment of debt	7,610	0
Stock-based compensation	16,472	18,475
Foreign currency, asset write downs and other non-cash adjustments	12,460	10,970
Change in assets and liabilities:
Accounts receivable, net	14,285	858
Inventories, net	(30,784)	(36,575)
Contract assets, net	12,232	(44,276)
Prepaid expenses and other assets, net	(16,187)	(3,956)
Accounts payable	(41,146)	(9,201)
Contract liabilities	17,026	4,412
Accrued liabilities and income taxes payable	(37,123)	(1,140)
Retirement obligations and other	(2,761)	15,717
Net deferred taxes	(7,607)	(5,445)
Net cash flows provided (used) by operating activities	61,306	20,183
Cash flows – Investing activities:
Capital expenditures	(22,541)	(29,072)
Proceeds from disposal of assets	2,085	10,810
Net affiliate investment activity	(3,384)	0
Net cash flows provided (used) by investing activities	(23,840)	(18,262)
Cash flows – Financing activities:
Payments on long-term debt	(407,473)	0
Proceeds under other financing arrangements	1,386	1,990
Payments under other financing arrangements	(3,256)	(4,862)
Repurchases of common shares	(17,531)	(32,112)
Payments related to tax withholding for stock-based compensation	(5,777)	(3,850)
Payments of dividends	(52,168)	(52,054)
Other	(6,275)	(2,844)
Net cash flows provided (used) by financing activities	(491,094)	(93,732)
Effect of exchange rate changes on cash	(11,249)	(17,464)
Net change in cash and cash equivalents	(464,877)	(109,275)
Cash and cash equivalents at beginning of period	1,095,274	670,980
Cash and cash equivalents at end of period	$ 630,397	$ 561,705

Basis of Presentation and Accou

Basis of Presentation and Accounting Policies	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation and Accounting Policies	Basis of Presentation and Accounting Policies Basis of Presentation The accompanying condensed consolidated balance sheet as of June 30, 2021, the related condensed consolidated statements of income and comprehensive income (loss) for the three and six months ended June 30, 2021 and 2020, the condensed consolidated statements of shareholders' equity for the three and six months ended June 30, 2021 and 2020 and the condensed consolidated statements of cash flows for the six months ended June 30, 2021 and 2020 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 June 30, 2021 ("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, 2020 ("2020 Annual Report"). Revision to Previously Reported Financial Information - During the first quarter of 2021, as previously disclosed, we identified an accounting error involving foreign currency transactions beginning with the first quarter of 2020 through the year ended December 31, 2020. These adjustments increased retirement obligations and other liabilities by $1.5 million, retained earnings by $14.0 million and accumulated other comprehensive loss by $15.5 million as of December 31, 2020. In addition, as previously disclosed, during the third quarter of 2020, we identified accounting errors related to the recognition of a liability for unasserted asbestos claims. The adjustments primarily related to an incurred but not reported ("IBNR") liability associated with unasserted asbestos claims, but also included adjustments related to the associated receivables for expected insurance proceeds for asbestos settlement and defense costs from insurance coverage and the recognition as an expense the related legal fees that were previously estimated to be recoverable from insurance carriers for which coverage is not currently sufficient following the recognition of the IBNR for periods beginning with the year ended December 31, 2014 through the second quarter of 2020 and to correct certain other previously identified immaterial errors. We have assessed the above described errors, individually and in the aggregate, and concluded they were not material to the period ended June 30, 2020 or any previous period. The June 30, 2020, balances, as presented herein, have been revised. Additionally, the remaining periods in 2020 will be revised the next time such financial statements are filed as applicable. Refer to Note 2 for a detailed discussion related to the impact of the revision as of and for the three and six months ended June 30, 2020 and the impact to future periods in 2020 which will be revised in future filings. Coronavirus Pandemic ("COVID-19") and Oil and Gas Market - During the first six months of 2021, we continue to be challenged by macroeconomics and global economic impacts based on the disruption and uncertainties caused by COVID-19. As a result of the COVID-19 pandemic’s effect on oil prices, many of our large customers reduced capital expenditures and budgets in 2020. To date, customer spending has yet to return to pre-pandemic levels. The preparation of our condensed consolidated financial statements requires us to make estimates, judgments and assumptions that may affect the reported amounts of assets, liabilities, equity, revenues and expenses and related disclosure of contingent assets and liabilities. We evaluate our estimates, judgments and methodologies on an ongoing basis. We base our estimates on historical experience and on various other assumptions that we believe are reasonable, the results of which form the basis for making judgments about the carrying values of assets, liabilities and equity and the amount of revenues and expenses. The full extent to which the COVID-19 pandemic directly or indirectly impacts our business, results of operations and financial condition, including sales, expenses, our allowance for expected credit losses, stock based compensation, the carrying value of our goodwill and other long-lived assets, financial assets, and valuation allowances for tax assets, will depend on future developments that are highly uncertain, including as a result of new information that may emerge concerning COVID-19 and the actions taken to contain it or treat it, as well as the economic impact on local, regional, national and international customers, suppliers and markets. We have made estimates of the impact of COVID-19 within our financial statements and there may be changes to those estimates in the near to mid-term as new information becomes available. Actual results may differ from these estimates. Accounting Developments Pronouncements Implemented In January 2020, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2020-01, "Investments—Equity Securities (Topic 321), Investments—Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815): Clarifying the Interactions between Topics 321, 323 and 815." The amendments of the ASU addresses accounting for the transition into and out of the equity method and measurement of certain purchased options and forward contracts to acquire investments. The ASU is effective for annual periods beginning after December 15, 2020 and the amendments should be applied retrospectively to all periods presented. The adoption of this ASU did not have an impact on our consolidated financial condition, results of operations or net cash flows. In March of 2020, the FASB issued ASU No. 2020-04, "Reference Rate Reform (Topic 848): Facilitation of The Effects of Reference Rate Reform on Financial Reporting." The ASU provides guidance designed to enable the process for migrating away from reference rates such as the London Interbank Offered Rate ("LIBOR") and others to new reference rates. Further, the amendments of the ASU provides optional expedients and exceptions for applying U.S. GAAP to contract modifications and hedging relationships, subject to meeting certain criteria, that reference LIBOR or another reference rate expected to be discontinued. The amendments are effective as of March 12, 2020 through December 31, 2022 and may be applied to contract modifications and hedging relationships from the beginning of an interim period that includes or is subsequent to March 12, 2020. At this time, we do not have hedging relationships that reference LIBOR or another reference rate expected to be discontinued and therefore, have not applied the practical expedients and exceptions as required by the ASU. As referenced in Note 7 of this Quarterly Report, the Company’s Senior Credit Facility agreement includes a transition clause in the event LIBOR is discontinued, as such, we do not expect the transition of LIBOR to have a material impact on our consolidated financial statements. We do not expect the application of these expedients and exceptions to have an impact on our consolidated financial condition and results of operations. In October 2020, the FASB issued ASU No. 2020-10, "Codification Improvements: Amendments to the FASB Accounting Standards Codification." The amendments in this ASU do not change GAAP and, therefore, are not expected to result in a significant change in practice. Rather, the amendments are intended to improve codification guidance and disclosure requirements in Company's financial statements and notes to the financial statements. The amendments are effective for annual periods beginning after December 15, 2020 and the amendments should be applied retrospectively to all periods presented. The adoption of this ASU did not have an impact on our consolidated financial condition, results of operations or net cash flows.

Revision to Previously Reported

Revision to Previously Reported Financial Information	6 Months Ended
	Jun. 30, 2021
Accounting Changes and Error Corrections [Abstract]
Revision to Previously Reported Financial Information	Revision to Previously Reported Financial Information During the first quarter of 2021, we identified an accounting error involving foreign currency transactions beginning with the first quarter of 2020 though the year ended December 31, 2020. These adjustments increased retirement obligations and other liabilities by $1.5 million, retained earnings by $14.0 million and accumulated other comprehensive loss by $15.5 million as of December 31, 2020. In the third quarter of 2020, we identified accounting errors related to the recognition of a liability for unasserted asbestos claims. The adjustments primarily relate to an IBNR associated with unasserted asbestos claims, but also include adjustments related to the associated receivables for expected insurance proceeds for asbestos settlement and defense costs from insurance coverage and the recognition as an expense the related legal fees that were previously estimated to be recoverable from insurance carriers for which coverage is not currently sufficient following the recognition of the IBNR and to correct certain other previously identified immaterial misstatements. The following tables present the impact to the affected line items on our condensed consolidated financial statements for the periods indicated for the correction of the accounting error involving foreign currency transactions identified in the first quarter of 2021, the accounting errors related to the recognition of a liability for unasserted asbestos claims identified in the third quarter of 2020, and other immaterial misstatements previously identified: June 30, 2020 (Amounts in thousands) As Reported Adjustments As Revised Contract assets, net of allowance for expected credit losses $ 309,149 $ 47 $ 309,196 Total current assets 2,430,555 47 2,430,602 Property, plant and equipment, net of accumulated depreciation(1) 541,768 5,703 547,471 Other assets, net of allowance for expected credit losses(2) 218,604 16,926 235,530 Total assets 4,755,702 22,676 4,778,378 Accrued liabilities(3) 401,041 (4,029) 397,012 Contract liabilities(4) 214,135 5,498 219,633 Debt due within one year 9,058 156 9,214 Total current liabilities 1,088,738 1,625 1,090,363 Long-term debt due after one year(1) 1,367,478 5,646 1,373,124 Retirement obligations and other liabilities(5) $ 470,400 $ 59,546 $ 529,946 Retained earnings(6) 3,643,868 (33,398) 3,610,470 Accumulated other comprehensive loss (643,173) (10,743) (653,916) Total Flowserve Corporation shareholders’ equity 1,662,572 (44,141) 1,618,431 Total equity 1,690,351 (44,141) 1,646,210 Total liabilities and equity $ 4,755,702 $ 22,676 $ 4,778,378 ______________________________________ (1) Adjustment relates to right-of-use (“ROU”) asset and lease liability for an operating lease. (2) Adjustment relates to the associated receivables for expected insurance proceeds for asbestos settlements and defense costs. (3 ) Adjustment primarily relates to non-restructuring realignment charges associated with workforce reductions in our Realignment Programs ("2020 Realignment Program"). Refer to Note 17 for further discussion of this program. (4) Adjustment relates to one of our sites for correction in contract position caused by errors in estimated costs under the over time revenue recognition model. (5) Adjustment primarily relates to IBNR reserves associated with unasserted asbestos claims. (6) The adjustments to retained earnings are the cumulative effect of the immaterial errors that were corrected in prior periods. Three Months Ended June 30, 2020 (Amounts in thousands, except per share data) As Reported Adjustments As Revised Sales $ 924,965 $ 47 $ 925,012 Cost of sales(1) (657,805) 2,500 (655,305) Gross profit 267,160 2,547 269,707 Selling, general and administrative expense(2) (227,358) (1,985) (229,343) Operating income 42,888 564 43,452 Other income (expense), net(3) (14,941) (3,966) (18,907) Earnings before income taxes 16,196 (3,437) 12,759 Provision for income taxes (5,409) 924 (4,485) Net earnings, including noncontrolling interests 10,787 (2,513) 8,274 Net earnings (loss) attributable to Flowserve Corporation $ 8,645 $ (2,513) $ 6,132 Net earnings (loss) per share attributable to Flowserve Corporation common shareholders: Basic $ 0.07 $ (0.02) $ 0.05 Diluted 0.07 (0.02) 0.05 ______________________________________ (1) Adjustment primarily relates to non-restructuring realignment charges associated with workforce reductions in our 2020 Realignment Program. (2) Adjustment primarily relates to asbestos settlement and defense costs for related legal fees. (3) Adjustment relates to the accounting error involving foreign currency transactions. Three Months Ended June 30, 2020 (Amounts in thousands) As Reported Adjustments As Revised Net earnings, including noncontrolling interests(1) $ 10,787 $ (2,513) $ 8,274 Other comprehensive income (loss): Foreign currency translation adjustments, net of taxes(2) 15,084 3,964 19,048 Other comprehensive income (loss) 16,886 3,964 20,850 Comprehensive income (loss), including noncontrolling interests 27,673 1,451 29,124 Comprehensive income (loss) attributable to Flowserve Corporation $ 25,594 $ 1,451 $ 27,045 _______________________________________ (1) Adjustment relates to cumulative effect of the accounting errors that were corrected in the periods, as outlined above. (2) Adjustment relates to the accounting error involving foreign currency transactions. Six Months Ended June 30, 2020 (Amounts in thousands, except per share data) As Reported Adjustments As Revised Sales $ 1,819,422 $ (896) $ 1,818,526 Cost of sales(1) (1,286,285) 3,925 (1,282,360) Gross profit 533,137 3,029 536,166 Selling, general and administrative expense(2) (470,980) (3,814) (474,794) Operating income 68,440 (785) 67,655 Interest expense (25,863) (35) (25,898) Other income (expense), net(3) 8,521 10,774 19,295 Earnings before income taxes 53,996 9,954 63,950 Provision for income taxes (41,719) 266 (41,453) Net earnings, including noncontrolling interests 12,277 10,220 22,497 Net earnings (loss) attributable to Flowserve Corporation $ 8,035 $ 10,219 $ 18,254 Net earnings (loss) per share attributable to Flowserve Corporation common shareholders: Basic $ 0.06 $ 0.08 $ 0.14 Diluted 0.06 0.08 0.14 _______________________________________ (1) Adjustment primarily relates to non-restructuring realignment charges associated with workforce reductions in our 2020 Realignment Program. (2) Adjustment primarily relates to asbestos settlement and defense costs for related legal fees. (3) Adjustment relates to the accounting error involving foreign currency transactions. Six Months Ended June 30, 2020 (Amounts in thousands) As Reported Adjustments As Revised Net earnings, including noncontrolling interests(1) $ 12,277 $ 10,220 $ 22,497 Other comprehensive income (loss): Foreign currency translation adjustments, net of taxes(2) (66,269) (10,744) (77,013) Other comprehensive income (loss) (58,104) (10,744) (68,848) Comprehensive income (loss), including noncontrolling interests (45,827) (524) (46,351) Comprehensive income (loss) attributable to Flowserve Corporation $ (50,845) $ (524) $ (51,369) _______________________________________ (1) Adjustment relates to cumulative effect of the accounting errors that were corrected in the periods, as outlined above. (2) Adjustment relates to the accounting error involving foreign currency transactions. The following tables present the impact to affected line items on our condensed consolidated financial statements for the periods indicated for the correction of the accounting error involving foreign currency transactions identified in the first quarter of 2021: September 30, 2020 (Amounts in thousands) As Reported Adjustments(1) As Revised Retirement obligations and other liabilities $ 541,721 $ 1,500 $ 543,221 Retained earnings 3,625,291 14,936 3,640,227 Accumulated other comprehensive loss (618,856) (16,436) (635,292) Total Flowserve Corporation shareholders’ equity 1,673,421 (1,500) 1,671,921 Total equity 1,703,843 (1,500) 1,702,343 _______________________________________ (1) Adjustments relate to the accounting error involving foreign currency transactions. Three Months Ended September 30, 2020 (Amounts in thousands, except per share data) As Reported Adjustments(1) As Revised Other income (expense), net $ (963) $ 5,636 $ 4,673 Earnings before income taxes 72,322 5,636 77,958 Provision for income taxes (18,672) (524) (19,196) Net earnings, including noncontrolling interests 53,650 5,112 58,762 Net earnings attributable to Flowserve Corporation $ 51,003 $ 5,112 $ 56,115 Net earnings per share attributable to Flowserve Corporation common shareholders: Basic $ 0.39 $ 0.04 $ 0.43 Diluted 0.39 0.04 0.43 _______________________________________ (1) Adjustments relate to the accounting error involving foreign currency transactions. Three Months Ended September 30, 2020 (Amounts in thousands) As Reported Adjustments(1) As Revised Net earnings, including noncontrolling interests $ 53,650 $ 5,112 $ 58,762 Other comprehensive income (loss): Foreign currency translation adjustments, net of taxes 25,204 (5,649) 19,555 Other comprehensive income (loss) 24,269 (5,649) 18,620 Comprehensive income (loss), including noncontrolling interests 77,919 (537) 77,382 Comprehensive income (loss) attributable to Flowserve Corporation $ 75,276 $ (537) $ 74,739 _______________________________________ (1) Adjustments relate to the accounting error involving foreign currency transactions. (Amounts in thousands, except per share data) Nine Months Ended September 30, 2020 As Reported Adjustments(1) As Revised Other income (expense), net $ 7,558 $ 16,411 $ 23,969 Earnings before income taxes 125,498 16,411 141,909 Provision for income taxes (59,175) (1,475) (60,650) Net earnings, including noncontrolling interests 66,323 14,936 81,259 Net earnings attributable to Flowserve Corporation $ 59,433 $ 14,936 $ 74,369 Net earnings per share attributable to Flowserve Corporation common shareholders: Basic $ 0.46 $ 0.11 $ 0.57 Diluted 0.45 0.12 0.57 _______________________________________ (1) Adjustments relate to the accounting error involving foreign currency transactions. Nine Months Ended September 30, 2020 (Amounts in thousands) As Reported Adjustments(1) As Revised Net earnings, including noncontrolling interests $ 66,323 $ 14,936 $ 81,259 Other comprehensive income (loss): Foreign currency translation adjustments, net of taxes (41,022) (16,434) (57,456) Other comprehensive income (loss) (33,792) (16,434) (50,226) Comprehensive income (loss), including noncontrolling interests 32,531 (1,498) 31,033 Comprehensive income (loss) attributable to Flowserve Corporation $ 24,869 $ (1,498) $ 23,371 _______________________________________ (1) Adjustments relate to the accounting error involving foreign currency transactions. December 31, 2020 (Amounts in thousands) As Reported Adjustments(1) As Revised Retirement obligations and other liabilities $ 516,087 $ 1,479 $ 517,566 Retained earnings 3,656,449 14,094 3,670,543 Accumulated other comprehensive loss (594,052) (15,573) (609,625) Total Flowserve Corporation shareholders’ equity 1,732,470 (1,479) 1,730,991 Total equity 1,762,800 (1,479) 1,761,321 _______________________________________ (1) Adjustments relate to the accounting error involving foreign currency transactions. (Amounts in thousands, except per share data) Three Months Ended December 31, 2020 As Reported Adjustments(1) As Revised Other income (expense), net $ (17,811) $ (931) $ (18,742) Earnings before income taxes 61,314 (931) 60,383 Provision for income taxes (856) 89 (767) Net earnings, including noncontrolling interests 60,458 (842) 59,616 Net earnings attributable to Flowserve Corporation $ 56,893 $ (842) $ 56,051 Net earnings per share attributable to Flowserve Corporation common shareholders: Basic $ 0.44 $ (0.01) $ 0.43 Diluted 0.43 — 0.43 ______________________________________ (1) Adjustments relate to the accounting error involving foreign currency transactions. Three Months Ended December 31, 2020 (Amounts in thousands) As Reported Adjustments(1) As Revised Net earnings, including noncontrolling interests $ 60,458 $ (842) $ 59,616 Other comprehensive income (loss): Foreign currency translation adjustments, net of taxes 41,411 862 42,273 Other comprehensive income (loss) 24,803 862 25,665 Comprehensive income (loss), including noncontrolling interests 85,261 20 85,281 Comprehensive income (loss) attributable to Flowserve Corporation $ 81,698 $ 20 $ 81,718 ______________________________________ (1) Adjustments relate to the accounting error involving foreign currency transactions. (Amounts in thousands, except per share data) Year Ended December 31, 2020 As Reported Adjustments(1) As Revised Other income (expense), net $ (10,254) $ 15,480 $ 5,226 Earnings before income taxes 186,812 15,480 202,292 Provision for income taxes (60,031) (1,386) (61,417) Net earnings, including noncontrolling interests 126,781 14,094 140,875 Net earnings attributable to Flowserve Corporation $ 116,326 $ 14,094 $ 130,420 Net earnings per share attributable to Flowserve Corporation common shareholders: Basic $ 0.89 $ 0.11 $ 1.00 Diluted 0.89 0.11 1.00 ______________________________________ (1) Adjustments relate to the accounting error involving foreign currency transactions. Year Ended December 31, 2020 (Amounts in thousands) As Reported Adjustments(1) As Revised Net earnings, including noncontrolling interests $ 126,781 $ 14,094 $ 140,875 Other comprehensive income (loss): Foreign currency translation adjustments, net of taxes 388 (15,571) (15,183) Other comprehensive income (loss) (8,991) (15,571) (24,562) Comprehensive income (loss), including noncontrolling interests 117,790 (1,477) 116,313 Comprehensive income (loss) attributable to Flowserve Corporation $ 106,565 $ (1,477) $ 105,088 ______________________________________ (1) Adjustments relate to the accounting error involving foreign currency transactions. The condensed consolidated statements of shareholders' equity for the three and six months ended June 30, 2020 have been revised to reflect the impacts of the above described errors. Additionally, the condensed consolidated statements of shareholders' equity for the periods from July 1, 2020 to September 30, 2020, January 1, 2020 to September 30, 2020 and for the year ended December 31, 2020, which will be revised the next time such financial statements are filed, have been corrected to reflect the impact of the errors described above and there are no other adjustments impacting those statements. The following tables present the impact to affected sub-totals for the correction of the errors on our condensed consolidated statement of cash flows for the six month and nine month periods ended June 30, 2020 and September 30, 2020, respectively. There was no impact on the condensed consolidated statement of cash flows for the year ended December 31, 2020. Six Months Ended June 30, 2020 (Amounts in thousands) As Reported Adjustments As Revised Net cash flows provided (used) by operating activities (1) $ 21,231 $ (1,048) $ 20,183 Net cash flows provided (used) by investing activities (2) (21,161) 2,899 (18,262) Net cash flows provided (used) by financing activities(3) (91,881) (1,851) (93,732) Cash and cash equivalents at end of period 561,705 — 561,705 ______________________________________ (1) Adjustment relates to cumulative effect of the accounting errors that were corrected in the periods, as outlined above. (2) Primarily related to adjustments resulting from the misclassification of Software as a service arrangements as property, plant and equipment rather than other assets, net, as prescribed by ASU 2018-15. (3) Primarily resulting from the misclassification of non-cash items under proceeds and payments under other financing arrangements in financing activities, rather than other assets, net, in operating activities. Nine Months Ended September 30, 2020 (Amounts in thousands) As Reported Adjustments As Revised Net cash flows provided (used) by operating activities (1) $ 115,629 $ (1,380) $ 114,249 Net cash flows provided (used) by investing activities (1) (34,160) 1,495 (32,665) Net cash flows provided (used) by financing activities 178,972 (115) 178,857 Cash and cash equivalents at end of period 921,178 — 921,178 _______________________________________ (1) Primarily related to adjustments resulting from the misclassification of Software as a service arrangements as property, plant and equipment rather than other assets, net, as prescribed by ASU 2018-15.

Revenue Recognition

Revenue Recognition	6 Months Ended
	Jun. 30, 2021
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 15% and 22% of total revenue for the three month period ended June 30, 2021 and 2020, respectively, and 16% and 22% for the six month period ended June 30, 2021 and 2020, 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 85% and 78% of total revenue for the three month period ended June 30, 2021 and 2020, respectively, and 84% and 78% for the six month period ended June 30, 2021 and 2020, respectively. Refer to Note 3 to our consolidated financial statements included in our 2020 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: • Flowserve Pump Division ("FPD") designs and manufactures custom, highly-engineered pumps, pre-configured industrial pumps, pump systems, mechanical seals, auxiliary systems and replacement parts and related services; and • Flow Control Division ("FCD") designs, manufactures and distributes a broad portfolio of engineered-to-order and configured-to-order isolation valves, control valves, valve automation products and related equipment. 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 tables present our customer revenues disaggregated by revenue source: Three Months Ended June 30, 2021 (Amounts in thousands) FPD FCD Total Original Equipment $ 220,387 $ 214,097 $ 434,484 Aftermarket 397,047 66,647 463,694 $ 617,434 $ 280,744 $ 898,178 Three Months Ended June 30, 2020 FPD FCD Total Original Equipment $ 271,465 $ 191,358 $ 462,823 Aftermarket 402,089 60,100 462,189 $ 673,554 $ 251,458 $ 925,012 Six Months Ended June 30, 2021 (Amounts in thousands) FPD FCD Total Original Equipment $ 434,541 $ 406,817 $ 841,358 Aftermarket 785,059 129,069 914,128 $ 1,219,600 $ 535,886 $ 1,755,486 Six Months Ended June 30, 2020 FPD FCD Total Original Equipment $ 524,198 $ 389,977 $ 914,175 Aftermarket 784,482 119,869 904,351 $ 1,308,680 $ 509,846 $ 1,818,526 Our customer sales are diversified geographically. The following tables present our revenues disaggregated by geography, based on the shipping addresses of our customers: Three Months Ended June 30, 2021 (Amounts in thousands) FPD FCD Total North America(1) $ 243,611 $ 98,118 $ 341,729 Latin America(2) 52,219 8,879 61,098 Middle East and Africa 69,662 26,530 96,192 Asia Pacific 119,375 88,944 208,319 Europe 132,567 58,273 190,840 $ 617,434 $ 280,744 $ 898,178 Three Months Ended June 30, 2020 FPD FCD Total North America(1) $ 269,610 $ 106,737 $ 376,347 Latin America(2) 46,909 6,905 53,814 Middle East and Africa 96,740 21,687 118,427 Asia Pacific 128,102 64,546 192,648 Europe 132,193 51,583 183,776 $ 673,554 $ 251,458 $ 925,012 Six Months Ended June 30, 2021 (Amounts in thousands) FPD FCD Total North America(1) $ 467,582 $ 188,368 $ 655,950 Latin America(2) 94,256 15,694 109,950 Middle East and Africa 152,207 54,226 206,433 Asia Pacific 244,027 167,600 411,627 Europe 261,528 109,998 371,526 $ 1,219,600 $ 535,886 $ 1,755,486 Six Months Ended June 30, 2020 FPD FCD Total North America(1) $ 537,135 $ 229,862 $ 766,997 Latin America(2) 89,096 12,415 101,511 Middle East and Africa 193,908 48,352 242,260 Asia Pacific 240,557 119,103 359,660 Europe 247,984 100,114 348,098 $ 1,308,680 $ 509,846 $ 1,818,526 __________________________________ (1) North America represents the United States and Canada. (2) Latin America includes Mexico. On June 30, 2021 , the aggregate transaction price allocated to unsatisfied (or partially unsatisfied) performance obligations was approximately $470 million. We estimate recognition of approximately $294 million of this amount as revenue in the remainder of 2021 and an additional $176 million in 2022 and thereafter. 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 tables present beginning and ending balances of contract assets and contract liabilities, current and long-term, for the six months ended June 30, 2021 and 2020: (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, 2021 $ 277,734 $ 1,139 $ 194,227 $ 822 Revenue recognized that was included in contract liabilities at the beginning of the period — — (112,835) — Revenue recognized in the period in excess of billings 321,040 54 — — Billings arising during the period in excess of revenue recognized — — 126,591 — Amounts transferred from contract assets to receivables (326,634) (28) — — Currency effects and other, net (9,909) (86) 1,109 (19) Ending balance, June 30, 2021 $ 262,231 $ 1,079 $ 209,092 $ 803 (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, 2020 $ 272,914 $ 9,280 $ 221,095 $ 1,652 Revenue recognized that was included in contract liabilities at the beginning of the period — — (138,994) (646) Revenue recognized in the period in excess of billings 386,250 511 — — Billings arising during the period in excess of revenue recognized — — 141,156 — Amounts transferred from contract assets to receivables (335,505) (93) — — Currency effects and other, net (14,463) (6,689) (3,624) (31) Ending balance, June 30, 2020 $ 309,196 $ 3,009 $ 219,633 $ 975 _____________________________________ (1) Included in other assets, net.

Allowance for Expected Credit L

Allowance for Expected Credit Losses	6 Months Ended
	Jun. 30, 2021
Credit Loss [Abstract]
Allowance for Expected Credit Losses	Allowance for Expected Credit Losses The allowance for credit losses is an estimate of the credit losses expected over the life of our financial assets and instruments. We assess and measure expected credit losses on a collective basis when similar risk characteristics exist, including market, geography, credit risk and remaining duration. Financial assets and instruments that do not share risk characteristics are evaluated on an individual basis. Our estimate of the allowance balance is assessed and quantified using internal and external valuation information relating to past events, current conditions and reasonable and supportable forecasts over the contractual terms of an asset. Our primary exposure to expected credit losses is through our trade receivables and contract assets. For these financial assets, we record an allowance for expected credit losses that, when deducted from the gross asset balance, presents the net amount expected to be collected. Primarily, our experience of historical credit losses provides the basis for our estimation of the allowance. We estimate the allowance based on an aging schedule and according to historical losses as determined from our history of billings and collections. Additionally, we adjust the allowance for factors that are specific to our customers’ credit risk such as financial difficulties, liquidity issues, insolvency, and country and geopolitical risks. We also consider both the current and forecasted macroeconomic conditions as of the reporting date. As identified and needed, we adjust the allowance and recognize adjustments in the income statement each period. Trade receivables are written off against the allowance in the period when the receivable is deemed to be uncollectible. Subsequent recoveries of previously written off amounts are reflected as a reduction to credit impairment losses in the condensed consolidated statements of income. Contract assets represent a conditional right to consideration for satisfied performance obligations that become a receivable when the conditions are satisfied. Generally, contract assets are recorded when contractual billing schedules differ from revenue recognition based on timing and are managed through the revenue recognition process. Based on our historical credit loss experience, the current expected credit loss for contract assets is estimated to be approximately 1% of the asset balance. The following table presents the changes in the allowance for expected credit losses for our trade receivables and contract assets for the six months ended June 30, 2021 and 2020: (Amounts in thousands) Trade receivables Contract assets Beginning balance, January 1, 2021 $ 75,176 $ 3,205 Charges to cost and expenses, net of recoveries 865 — Write-offs (2,015) — Currency effects and other, net 756 (167) Ending balance, June 30, 2021 $ 74,782 $ 3,038 Beginning balance, January 1, 2020 $ 53,412 $ 206 Adoption of ASU 2016-13 6,970 2,779 Charges to cost and expenses, net of recoveries 11,800 — Currency effects and other, net (98) 25 Ending balance, June 30, 2020 $ 72,084 $ 3,010 Our allowance on long-term receivables, included in other assets, net, represent receivables with collection periods longer than 12 months and the balance primarily consists of reserved receivables associated with the national oil company in Venezuela. The following table presents the changes in the allowance for long-term receivables for the six months ended June 30, 2021 and 2020: (Amounts in thousands) 2021 2020 Balance at January 1 $ 67,842 $ 68,555 Adoption of ASU 2016-13 — (679) Currency effects and other, net (72) (617) Balance at June 30 $ 67,770 $ 67,259

Stock-Based Compensation Plans

Stock-Based Compensation Plans	6 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation Plans	Stock-Based Compensation Plans We maintain the Flowserve Corporation 2020 Long-Term Incentive Plan (“2020 Plan”), which is a shareholder approved plan authorizing the issuance of 12,500,000 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 shares of common stock authorized under the 2020 Plan, 11,273,436 were available for issuance as of June 30, 2021. 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 continue to vest over the original vesting period ("55/10 Provision"). As of June 30, 2021, 114,943 stock options were outstanding. No stock options were granted or vested during the six months ended June 30, 2021 and 2020. 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 $38.1 million and $18.7 million at June 30, 2021 and December 31, 2020, respectively, which is expected to be recognized over a remaining weighted-average period of approximat ely two years. These amounts will be recognized into net earnings in prospective periods as the awar ds vest. The total fair value of Restricted Shares vested during the three months ended June 30, 2021 and 2020 was $0.9 million and $2.9 million , respectively. The total fair value of Restricted Shares vested during the six months ended June 30, 2021 and 2020 was $24.4 million and $21.0 million , respectively. We recorded stock-based compensation expense of $5.1 million ($6.7 million pre-tax) and $3.3 million ($4.2 million pre-tax) for the three months ended June 30, 2021 and 2020, respectively. We recorded stock-based compensation expense of $12.7 million ($16.5 million pre-tax) and $14.4 million ( $18.5 million pre-tax) for the six months ended June 30, 2021 and 2020, respectively. The following table summarizes information regarding Restricted Shares: Six Months Ended June 30, 2021 Shares Weighted Average Number of unvested shares: Outstanding - January 1, 2021 1,373,657 $ 46.76 Granted 995,204 39.59 Vested (550,370) 44.27 Forfeited (117,090) 48.01 Outstanding as of June 30, 2021 1,701,401 $ 43.29 Unvested Restricted Shares outstanding as of June 30, 2021 included approximately 509,000 units with performance-based vesting provisions issuable in common stock and vest upon the achievement of pre-defined performance metrics. Targets for outstanding performance awards are based on our average return on invested capital, total shareholder return ("TSR") or free cash flow as a percent of net income over a three-year period. Performance units issued in 2021 include a secondary measure, relative total shareholder return, which can increase or decrease the number of vesting units by 15% depending on the Company's performance versus peers. Performance units issued in 2019 and 2020 have a vesting percentage between 0% and 200%, while the 2021 performance units have a vesting percentage up to 230%. 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, 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 1,063,000 shares based on performance targets. As of June 30, 2021, we estimate vesting of approximately 480,000 shares based on expected achievement of performance targets.

Derivative Instruments and Hedg

Derivative Instruments and Hedges	6 Months Ended
	Jun. 30, 2021
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 9 to our consolidated financial statements included in our 2020 Annual Report and Note 8 o f 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. Forei gn exchange contracts with third parties had a notional value of $385.7 million and $388.1 million at June 30, 2021 and December 31, 2020, respectively. At June 30, 2021, the length of foreign exchange contracts currently in place ranged from 26 days to 27 months. We are exposed to risk from credit-related losses resulting from non performance 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: June 30, December 31, (Amounts in thousands) 2021 2020 Current derivative assets $ 1,389 $ 2,857 Noncurrent derivative assets 20 249 Current derivative liabilities 914 682 Noncurrent derivative liabilities 62 — Current and noncurrent derivative assets are reported in our condensed consolidated balance sheets in prepaid expenses and other and other assets, net, respectively. Current and noncurrent derivative liabilities are reported in our condensed consolidated balance sheets in accrued liabilities and retirement obligations and other liabilities, respectively. The impact of net changes in the fair values of foreign exchange contracts are summarized below: Three Months Ended June 30, Six Months Ended June 30, (Amounts in thousands) 2021 2020 2021 2020 (Losses) gains recognized in income $ (4,312) $ (3,520) $ 1,793 $ (61) Gains and losses recognized in our condensed consolidated statements of income for foreign exchange contracts are classified as other income (expense), net. As a means of managing the volatility of foreign currency exposure with the Euro/U.S. dollar exchange rate, we enter into cross-currency swaps agreements ("Swaps") as a hedge of our Euro investment in certain of our international subsidiaries. Accordingly, on April 14, 2021 and March 9, 2021, we entered into cross currency swap agreements, with termination dates of October 1, 2030 and an early termination date of March 11, 2025, respectively . Also, d uring the third quarter of 2020 we entered into a cross currency swap agreement with an early termination date of September 22, 2025. The swap agreements are designated as net investment hedges and as of June 30, 2021 the combined notional value of these swaps wa s €423.2 million. The swaps are included in retirement obligations and othe r liabilities in our condensed consolidated balance sheet as of June 30, 2021 , with a fair value of $5.3 million, compared to $18.1 million as of December 31, 2020. The swaps are classified as Level II under the fair value hierarchy. We exclude the interest accruals on the swaps from the assessment of hedge effectiveness and recognize the interest accruals in earnings within interest expense. For each reporting period, the change in the fair value of the swaps attributable to changes in the spot rate and differences between the change in the fair value of the excluded components and the amounts recognized in earnings under the swap accrual process are reported in accumulated other comprehensive loss on our consolidated balance sheet. For the three and six months ending June 30, 2021, an interest accrual of $(2.1) million and $(2.7) million, respectively, was recognized in other income (expense), net, in our condensed consolidated statements of income. The cumulative net investment hedge loss, net of deferred taxes, under cross-currency swaps recorded in accumulated other comprehensive loss ("AOCL") on our condensed consolidated balance sheet are summarized below: Three Months Ended June 30, Six Months Ended June 30, (Amounts in thousands) 2021 2020 2021 2020 Loss (gain)-included component (1) $ 1,798 $ — $ 185 $ — (Gain) loss-excluded component (2) (11,749) — 3,890 — (Gain) loss recognized in AOCL $ (9,951) $ — $ 4,075 $ — _____________________________________________ (1) Change in the fair value of the swaps attributable to changes in spot rates. (2) Change in the fair value of the swaps due to changes other than those attributable to spot rates. In March 2015, we designated €255.7 million of our 1.25% EUR 2022 Senior Notes ("2022 Euro Senior Notes") discussed in Note 7 as a net investment hedge of our Euro investment in certain of our international subsidiaries. On September 22, 2020, we increased the designated hedged value on the 2022 Euro Senior Notes to €336.3 million, which reflected the remaining balance of the 2022 Euro Senior Notes. For each reporting period, the change in the carrying value due to the remeasurement of the effective portion is reported in AOCL 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 statements of income. As a result of the redemption of our 2022 Euro Senior Notes discussed in Note 7, i n February and March of 2021 we dedesignated the hedged value of our net investment hedge. Prior to the dedesignation, the cumulative impact recorded in AOCL on our condensed consolidated balance sheet from the change in carrying value due to the remeasurement of the effective portion of the net investment hedge are summarized below: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 (Amounts in thousands) Loss recognized in AOCL $ — $ 3,990 $ 29,554 $ 12,510 Prior to the dedesignation of the net investment hedge, we used the spot method to measure the effectiveness of both net investment hedges and evaluate the effectiveness on a prospective basis at the beginning of each quarter. We did not record any ineffectiveness

Debt

Debt	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Debt	Debt Debt, including finance lease obligations, net of discounts and debt issuance costs, consisted of: June 30, December 31, (Amounts in thousands, except percentages) 2021 2020 1.25% EUR Senior Notes due March 17, 2022, net of unamortized discount and debt issuance costs of $1,070 as of December 31, 2020 $ — $ 410,243 3.50% USD Senior Notes due September 15, 2022, net of unamortized discount and debt issuance costs of $882 and $1,235 499,118 498,765 4.00% USD Senior Notes due November 15, 2023, net of unamortized discount and debt issuance costs of $1,122 and $1,345 298,878 298,655 3.50% USD Senior Notes due October 1, 2030, net of unamortized discount and debt issuance costs of $5,881 and $6,147 494,119 493,853 Finance lease obligations and other borrowings 24,633 25,390 Debt and finance lease obligations 1,316,748 1,726,906 Less amounts due within one year 9,599 8,995 Total debt due after one year $ 1,307,149 $ 1,717,911 Senior Notes On March 19, 2021, we redeemed the remaining $400.9 million of our 2022 Euro Senior Notes and have r ecorded a loss on early extinguishment of $7.6 million, which included the impact of a $6.6 million make-whole premium . During the third quarter of 2020 we tendered $191.4 million of our 2022 Euro Senior Notes and recorded a loss on early extinguishment of $1.2 million in interest expense. Senior Credit Facility On September 4, 2020, we amended our credit agreement with Bank of America, N.A., as administrative agent, and the other lenders party thereto ("Amended Credit Agreement") to provide greater flexibility in maintaining adequate liquidity in the event we have the need to access available borrowings under our Senior Credit Facility ("Credit Facility"). The Amended Credit Agreement provides for an $800.0 million unsecured senior credit facility with a maturity date of July 16, 2024. The 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 Credit Facility by an aggregate amount not to exceed $400.0 million, subject to certain conditions, including each Lender's approval providing any increase. The Amended Credit Agreement, among other things, (i) replaces the existing leverage ratio financial covenant (the “Existing Leverage Covenant”) with a leverage ratio financial covenant that requires the Company’s ratio of consolidated funded indebtedness, minus the amount of all cash and cash equivalents on our balance sheet in excess of $250.0 million, to the Company’s Consolidated EBITDA, not to exceed 4.00 to 1.00 as of the last day of any quarter through and including December 31, 2021 (the “Covenant Relief Period”), (ii) amends the Existing Leverage Covenant to provide that it will not be tested until the quarter ending March 31, 2022, (iii) provides that the Existing Leverage Covenant, beginning March 31, 2022, cannot exceed 4.00 to 1.00 (or as increased to 4.50 to 1.00 in connection with certain acquisitions) and (iv) limits the Company’s ability to pay dividends and repurchase its shares of common stock, par value $1.25, during the Covenant Relief Period, to an amount not to exceed 115% of the total amount of dividends and share repurchases we made during the period commencing January 1, 2019 through and including June 30, 2020. The interest rates per annum applicable to the 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 Financial Services LLC ("S&P") Ratings, or, at our option, the Base Rate (as defined in the Credit Agreement) plus between 0.000% to 0.750% depending on our debt rating by either Moo dy’s Investors Service, Inc. or S&P Ratings. At June 30, 2021, the interest rate on the 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 Credit Facility. The commitment fee will be betw een 0.090% and 0.300% of unused amounts under the Credit Facility depending on our debt rating by either Moody’s Investors Service, Inc. or S&P’s Ratings. The commitment f ee was 0.20% (per annum) during the three and six months ended June 30, 2021. As of June 30, 2021 and December 31, 2020, we had no revolving loans outstanding. We had outstanding letters of credit of $61.1 million and $58.1 million at June 30, 2021 and December 31, 2020, respectively. As of June 30, 2021, the amount available for borrowings under our Senior Credit Facility was $738.9 million, compared to $741.9 million at December 31, 2020. Our compliance with applicable financial covenants under the Senior Notes and Credit Facility are tested quarterly. We were in compliance with all applicable covenants as of June 30, 2021.

Fair Value

Fair Value	6 Months Ended
	Jun. 30, 2021
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. The carrying value of our financial instruments as reflected in our condensed consolidated balance sheets approximates fair value, with the exception of our long-term debt. The estimated fair value of our long-term debt, excluding the Senior Notes, approximat es 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 June 30, 2021 was $1,356.4 million compared to the carrying value of $1,292.1 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) appr oximated fair value due to their short-term nature at June 30, 2021 and December 31, 2020.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2021
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories, net consisted of the following: June 30, December 31, (Amounts in thousands) 2021 2020 Raw materials $ 327,799 $ 321,600 Work in process 253,097 210,174 Finished goods 201,802 221,532 Less: Excess and obsolete reserve (92,553) (86,078) Inventories, net $ 690,145 $ 667,228

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The following is a reconciliation of net earnings of Flowserve Corporation and weighted average shares for calculating net earnings per common share. Earnings per weighted average common share outstanding was calculated as follows: Three Months Ended June 30, (Amounts in thousands, except per share data) 2021 2020 Net earnings of Flowserve Corporation $ 45,354 $ 6,132 Dividends on restricted shares not expected to vest — — Earnings attributable to common and participating shareholders $ 45,354 $ 6,132 Weighted average shares: Common stock 130,279 130,148 Participating securities 26 22 Denominator for basic earnings per common share 130,305 130,170 Effect of potentially dilutive securities 499 560 Denominator for diluted earnings per common share 130,804 130,730 Earnings per common share: Basic $ 0.35 $ 0.05 Diluted 0.35 0.05 Six Months Ended June 30, (Amounts in thousands, except per share data) 2021 2020 Net earnings of Flowserve Corporation $ 59,434 $ 18,254 Dividends on restricted shares not expected to vest — — Earnings attributable to common and participating shareholders $ 59,434 $ 18,254 Weighted average shares: Common stock 130,342 130,439 Participating securities 24 24 Denominator for basic earnings per common share 130,366 130,463 Effect of potentially dilutive securities 539 689 Denominator for diluted earnings per common share 130,905 131,152 Earnings per common share: Basic $ 0.46 $ 0.14 Diluted 0.45 0.14

Legal Matters and Contingencies

Legal Matters and Contingencies	6 Months Ended
	Jun. 30, 2021
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. Typically, these lawsuits have been brought against multiple defendants in state and federal courts. While the overall number of asbestos-related claims in which we or our predecessors have been named has generally declined in recent years, there can be no assurance that this trend will continue, or that the average cost per claim to us 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 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, other than legal fees. Activity related to asbestos claims during the periods indicated was as follows: Three Months Ended Six Months Year Ended June 30, June 30, December 31, 2021 2020 2021 2020 2020 Beginning claims(1) 8,445 8,282 8,366 8,345 8,345 New claims 603 456 1,232 1,037 2,140 Resolved claims (479) (667) (1,023) (1,308) (2,203) Other(2) (10) 29 (16) 26 84 Ending claims(1) 8,559 8,100 8,559 8,100 8,366 ____________________ (1) Beginning and ending claims data in each period excludes inactive claims, as the Company considers it unlikely that inactive cases will be pursued further by the respective plaintiffs. A claim is classified as inactive either due to inactivity over a period of time or if designated as inactive by the applicable court. (2) Represents the net change in claims as a result of the reclassification of active cases as inactive and inactive cases as active during the period indicated. Cases moved from active to inactive status are removed from the claims count without being accounted for as a "Resolved claim", and cases moved from inactive status to active status are added back to the claims count without being accounted for as a “New claim”. During the three months ended June 30, 2021 the Company incurred expenses (net of insurance) of approximately $1.8 million, compared to $5.9 million for the same period in 2020 to defend, resolve or otherwise dispose of outstanding claims, including legal and other related expenses. During the six months ended June 30, 2021 the Company incurred expenses (net of insurance) of approximately $4.5 million, compared to $10.2 million for the same period in 2020 to defend, resolve or otherwise dispose of outstanding claims, including legal and other related expenses. These expenses are included within SG&A in our condensed consolidated statements of income. The Company had cash inflows/(outflows) (net of insurance and/or indemnity) to defend, resolve or otherwise dispose of outstanding claims, including legal and other related expenses of approximately $(3.3) million and $(6.7) million dur ing the six months ended June 30, 2021 and 2020 , respectively. 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. We believe that our reserve for asbestos claims and the receivable for recoveries from insurance carriers that we have recorded for these claims reflects reasonable and probable estimates of these amounts. Our estimate of our ultimate exposure for asbestos claims, however, is subject to significant uncertainties, including the timing and number and types of new claims, unfavorable court rulings, judgments or settlement terms and ultimate costs to settle. Additionally, the continued viability of carriers may also impact the amount of probable insurance recoveries. We believe that these uncertainties could have a material adverse impact on our business, financial condition, results of operations and cash flows, though 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. Other Claims 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	6 Months Ended
	Jun. 30, 2021
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 June 30, 2021 and 2020 were as follows: U.S. Non-U.S. Postretirement (Amounts in millions) 2021 2020 2021 2020 2021 2020 Service cost $ 5.8 $ 6.6 $ 1.9 $ 1.7 $ — $ — Interest cost 2.9 3.7 1.4 1.6 0.1 0.2 Expected return on plan assets (6.2) (6.1) (1.7) (1.2) — — Amortization of prior service cost 0.1 0.1 0.1 — 0.1 — Amortization of unrecognized net loss (gain) 2.0 1.8 1.2 1.1 — — Net periodic cost recognized $ 4.6 $ 6.1 $ 2.9 $ 3.2 $ 0.2 $ 0.2 Components of the net periodic cost for retirement and postretirement benefits for the six months ended June 30, 2021 and 2020 were as follows: U.S. Non-U.S. Postretirement (Amounts in millions) 2021 2020 2021 2020 2021 2020 Service cost $ 12.6 $ 12.9 $ 3.7 $ 3.4 $ — $ — Interest cost 6.0 7.5 2.8 3.2 0.2 0.3 Expected return on plan assets (12.7) (12.8) (3.2) (2.4) — — Amortization of prior service cost 0.1 0.1 0.2 0.1 0.1 0.1 Amortization of unrecognized net loss (gain) 3.9 3.5 2.3 2.1 — (0.1) Net periodic cost recognized $ 9.9 $ 11.2 $ 5.8 $ 6.4 $ 0.3 $ 0.3 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 statements of income.

Shareholders' Equity

Shareholders' Equity	6 Months Ended
	Jun. 30, 2021
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. Dividends declared per share were as follows: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Dividends declared per share $ 0.20 $ 0.20 $ 0.40 $ 0.40 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 311,000 shares of our outstanding common stock for $12.5 million during the three months ended June 30, 2021, compared to no repurchases for the same period in 2020. We repurchased 440,000 shares of our outstanding common stock for $17.5 million during the six months ended June 30, 2021, compared to 1,057,115 shares repurchases for $32.1 million for the same period in 2020. As of June 30, 2021, we had $101.2 million of remaining capacity under our current share repurchase program.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the three months ended June 30, 2021, we earned $50.5 million before taxes and provided for income taxes of $2.7 million resulting in an effective tax rate of 5.4%. For the six months ended June 30, 2021, we earned $71.4 million before taxes and provided for income taxes of $6.5 million resulting in an effective tax rate of 9.1%. The effective tax rate varied from the U.S. federal statutory rate for the three months ended June 30, 2021 primarily due to the net impact of foreign operations and favorable resolution of audits in foreign jurisdictions. The effective tax rate varied from the U.S. federal statutory rate for the six months ended June 30, 2021 primarily due to the net impact of foreign operations, the reversal of certain deferred tax liabilities as a result of restructuring specific aspects of our global financing arrangements, higher withholding taxes related to transactions with and amongst various foreign subsidiaries and favorable resolution of audits in foreign jurisdictions. For the three months ended June 30, 2020, we earned $12.8 million before taxes and provided for income taxes of $4.5 million resulting in an effective tax rate of 35.2%. For the six months ended June 30, 2020, we earned $64.0 million before taxes and provided for income taxes of $41.5 million resulting in an effective tax rate of 64.8%. The effective tax rate varied from the U.S. federal statutory rate for the three months ended June 30, 2020 primarily due to the net impact of foreign operations. The effective tax rate varied from the U.S. federal statutory rate for the six months ended June 30, 2020 primarily due to the establishment of a valuation allowance against certain deferred tax assets given the current and anticipated impact to the Company's operations resulting from the COVID-19 pandemic and the distressed oil prices, and the net impact of foreign operations. In response to the COVID-19 pandemic, many governments have enacted or are contemplating measures to provide aid and economic stimulus. These measures may include deferring the due dates of tax payments or other changes to their income and non-income-based tax laws. The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), which was enacted on March 27, 2020 in the U.S., includes measures to assist companies, including temporary changes to income and non-income-based tax laws. For the three and six months ended June 30, 2021, there w ere no material tax impacts to our condensed consolidated financial statements as they relate to the CARES Act or any other global COVID-19 measures. We continue to monitor additional guidance issued by the U.S. Treasury Department, the Internal Revenue Service and others. As of June 30, 2021, the amount of unrecognized tax benefits decreased by $3.6 million from December 31, 2020. With limited exception, we are no longer subject to U.S. federal income tax audits for years through 2017, state and local income tax audits for years through 2014 or non-U.S. income tax audits for years through 2013. We are currently under examination for various years in Canada, Germany, India, Indonesia, Italy, Malaysia, Mexico, the Philippines, Saudi Arabia, the U.S. and Venezuela. It is reasonably possible that within the next 12 months the effective tax rate will be impacted by the resolution of some or all of the matters audited by various taxing authorities. It is also reasonably possible that we will have the statute of limitations close in various taxing jurisdictions within the next 12 months. As such, we estimate we could record a reduction in our tax expense of approximately $13 million within the next 12 months.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
Segment Information	Segment Information The following is a summary of the financial information of the reportable segments reconciled to the amounts reported in the condensed consolidated financial statements: Three Months Ended June 30, 2021 (Amounts in thousands) FPD FCD Subtotal–Reportable Segments Eliminations and All Other Consolidated Total Sales to external customers $ 617,434 $ 280,744 $ 898,178 $ — $ 898,178 Intersegment sales 257 416 673 (673) — Segment operating income 67,845 37,229 105,074 (32,912) 72,162 Three Months Ended June 30, 2020 FPD FCD Subtotal–Reportable Segments Eliminations and All Other Consolidated Total Sales to external customers $ 673,554 $ 251,458 $ 925,012 $ — $ 925,012 Intersegment sales 510 828 1,338 (1,338) — Segment operating income 60,355 26,227 86,582 (43,130) 43,452 Six Months Ended June 30, 2021 (Amounts in thousands) FPD FCD Subtotal–Reportable Segments Eliminations and All Other Consolidated Total Sales to external customers $ 1,219,600 $ 535,886 $ 1,755,486 $ — $ 1,755,486 Intersegment sales 733 1,096 1,829 (1,829) — Segment operating income 121,627 61,942 183,569 (55,304) 128,265 Six Months Ended June 30, 2020 FPD FCD Subtotal–Reportable Segments Eliminations and All Other Consolidated Total Sales to external customers $ 1,308,680 $ 509,846 $ 1,818,526 $ — $ 1,818,526 Intersegment sales 1,037 1,825 2,862 (2,862) — Segment operating income 100,080 43,408 143,488 (75,833) 67,655

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	6 Months Ended
	Jun. 30, 2021
Equity [Abstract]
Accumulated Other Comprehensive Income (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 June 30, 2021 and 2020: 2021 2020 (Amounts in thousands) Foreign currency translation items(1) Pension and other post-retirement effects Cash flow hedging activity Total(1) Foreign currency translation items(1) Pension and other post-retirement effects Cash flow hedging activity Total(1) Balance - April 1 $ (467,326) $ (142,464) $ (286) $ (610,076) $ (537,425) $ (130,852) $ (617) $ (668,894) Other comprehensive income (loss) before reclassifications 13,998 (713) 15 13,300 19,048 (793) 44 18,299 Amounts reclassified from AOCL — 2,772 — 2,772 — 2,551 — 2,551 Net current-period other comprehensive income (loss) 13,998 2,059 15 16,072 19,048 1,758 44 20,850 Balance - June 30 $ (453,328) $ (140,405) $ (271) $ (594,004) $ (518,377) $ (129,094) $ (573) $ (648,044) ________________________________ (1) Includes foreign currency translation adjustments attributable to noncontrolling interests of $6.1 million and $5.9 million at April 1, 2021 and 2020, respectively, and $6.1 million and $5.9 million at June 30, 2021 and 2020, respectively. Amounts in parentheses indicate an increase to AOCL. The following table presents the reclassifications out of AOCL: Three Months Ended June 30, (Amounts in thousands) Affected line item in the statement of income 2021(1) 2020(1) Pension and other postretirement effects Amortization of actuarial losses(2) Other income (expense), net $ (3,089) $ (2,857) Prior service costs(2) Other income (expense), net (155) (138) Tax benefit 472 444 Net of tax $ (2,772) $ (2,551) __________________________________ (1) Amounts in parentheses indicate decreases to income. None of the reclassified amounts have a noncontrolling interest component. (2) These AOCL 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 six months ended June 30, 2021 and 2020: 2021 2020 (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 $ (456,437) $ (146,723) $ (488) $ (603,648) $ (441,364) $ (137,161) $ (671) $ (579,196) Other comprehensive (loss) income before reclassifications 3,109 804 217 4,130 (77,013) 3,116 98 (73,799) Amounts reclassified from AOCL — 5,514 — 5,514 — 4,951 — 4,951 Net current-period other comprehensive (loss) income 3,109 6,318 217 9,644 (77,013) 8,067 98 (68,848) Balance - June 30 $ (453,328) $ (140,405) $ (271) $ (594,004) $ (518,377) $ (129,094) $ (573) $ (648,044) (1) Includes foreign currency translation adjustments attributable to noncontrolling interests of $5.9 million and $5.1 million at January 1, 2021 and 2020, respectively, and $6.1 million and $5.9 million at June 30, 2021 and 2020, respectively. Amounts in parentheses indicate an increase to AOCL. The following table presents the reclassifications out of AOCL: Six Months Ended June 30, (Amounts in thousands) Affected line item in the statement of income 2021(1) 2020(1) Pension and other postretirement effects Amortization of actuarial losses(2) Other income (expense), net $ (6,148) $ (5,514) Prior service costs(2) Other income (expense), net (308) (279) Tax benefit 942 842 Net of tax $ (5,514) $ (4,951) __________________________________ (1) Amounts in parentheses indicate decreases to income. None of the reclassified amounts have a noncontrolling interest component.

Realignment and Transformation

Realignment and Transformation Programs	6 Months Ended
	Jun. 30, 2021
Restructuring and Related Activities [Abstract]
Realignment and Transformation Programs	Realignment and Transformation Programs In the second quarter of 2020, we identified and initiated certain realignment activities resulting from our Flowserve 2.0 Transformation Program (defined below) to right-size our organizational operations based on the current business environment, with the overall objective to reduce our workforce costs, including manufacturing optimization through the consolidation of certain facilities ("2020 Realignment Program"). The realignment activities consist of restructuring and non-restructuring charges. Restructuring charges represent costs associated with the relocation of certain business activities and facility closures and include related severance costs. Non-restructuring charges are primarily employee severance associated with the workforce reductions. Expenses are primarily reported in cost of sales ("COS") or selling, general and administrative ("SG&A"), as applicable, in our condensed consolidated statements of income. We anticipate a total investment in these activities of approximately $95 million and the majority of the charges were incurred in 2020 with the remainder to be incurred through 2021. There are certain other realignment activities that are currently being evaluated, but have not yet been finalized. 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. The Flowserve 2.0 Transformation expenses incurred primarily consisted of professional services, project management and related travel costs recorded in SG&A expenses. As of December 31, 2020, the Flowserve 2.0 Transformation efforts were substantially completed. For the six months ended June 30, 2021, there were no Flowserve 2.0 Transformation charges. 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, incurred in 2021 related to our 2020 Realignment Program and the total charges incurred in 2020 are related to our 2020 Realignment Program and Flowserve 2.0 Transformation: Three Months Ended June 30, 2021 (Amounts in thousands) FPD FCD Subtotal–Reportable Segments All Other Consolidated Total Realignment Charges Restructuring Charges COS $ 2,016 $ 171 $ 2,187 $ — $ 2,187 SG&A 667 — 667 — 667 $ 2,683 $ 171 $ 2,854 $ — $ 2,854 Non-Restructuring Charges COS $ 1,558 $ 80 $ 1,638 $ — $ 1,638 SG&A 338 (129) 209 915 1,124 $ 1,896 $ (49) $ 1,847 $ 915 $ 2,762 Total Realignment Charges COS $ 3,574 $ 251 $ 3,825 $ — $ 3,825 SG&A 1,005 (129) 876 915 1,791 Total $ 4,579 $ 122 $ 4,701 $ 915 $ 5,616 Three Months Ended June 30, 2020 (Amounts in thousands) FPD FCD Subtotal–Reportable Segments All Other Consolidated Total Realignment Charges Restructuring Charges COS $ 11,650 $ (167) $ 11,483 $ — $ 11,483 SG&A 126 3 129 — 129 $ 11,776 $ (164) $ 11,612 $ — $ 11,612 Non-Restructuring Charges COS $ 12,003 $ 2,917 $ 14,920 $ 548 $ 15,468 SG&A 9,316 4,333 13,649 14,852 28,501 $ 21,319 $ 7,250 $ 28,569 $ 15,400 $ 43,969 Total Realignment Charges COS $ 23,653 $ 2,750 $ 26,403 $ 548 $ 26,951 SG&A 9,442 4,336 13,778 14,852 $ 28,630 Total $ 33,095 $ 7,086 $ 40,181 $ 15,400 $ 55,581 Transformation Charges SG&A $ — $ — $ — $ 5,618 $ 5,618 $ — $ — $ — $ 5,618 $ 5,618 Total Realignment and Transformation Charges COS $ 23,653 $ 2,750 $ 26,403 $ 548 $ 26,951 SG&A 9,442 $ 4,336 13,778 20,470 34,248 Total $ 33,095 $ 7,086 $ 40,181 $ 21,018 $ 61,199 Six Months Ended June 30, 2021 (Amounts in thousands) FPD FCD Subtotal–Reportable Segments All Other Consolidated Total Realignment Charges Restructuring Charges COS $ 6,043 $ 470 $ 6,513 $ — $ 6,513 SG&A 667 (9) 658 — 658 $ 6,710 $ 461 $ 7,171 $ — $ 7,171 Non-Restructuring Charges COS $ 5,449 $ 678 $ 6,127 $ 590 $ 6,717 SG&A 495 739 1,234 4,195 5,429 $ 5,944 $ 1,417 $ 7,361 $ 4,785 $ 12,146 Total Realignment Charges COS $ 11,492 $ 1,148 $ 12,640 $ 590 $ 13,230 SG&A 1,162 730 1,892 4,195 6,087 Total $ 12,654 $ 1,878 $ 14,532 $ 4,785 $ 19,317 Six Months Ended June 30, 2020 (Amounts in thousands) FPD FCD Subtotal–Reportable Segments All Other Consolidated Total Restructuring Charges COS $ 13,331 $ (272) $ 13,059 $ — $ 13,059 SG&A(1) 230 (3) 227 — 227 $ 13,561 $ (275) $ 13,286 $ — $ 13,286 Non-Restructuring Charges COS $ 12,128 $ 9,242 $ 21,370 $ 548 $ 21,918 SG&A 9,801 4,384 14,185 15,497 29,682 $ 21,929 $ 13,626 $ 35,555 $ 16,045 $ 51,600 Total Realignment Charges COS $ 25,459 $ 8,970 $ 34,429 $ 548 $ 34,977 SG&A 10,031 4,381 14,412 15,497 29,909 Total $ 35,490 $ 13,351 $ 48,841 $ 16,045 $ 64,886 Transformation Charges SG&A $ — $ — $ — $ 11,261 $ 11,261 $ — $ — $ — $ 11,261 $ 11,261 Total Realignment Charges COS $ 25,459 $ 8,970 $ 34,429 $ 548 $ 34,977 SG&A 10,031 4,381 14,412 26,758 41,170 Total $ 35,490 $ 13,351 $ 48,841 $ 27,306 $ 76,147 The following is a summary of total inception to date charges, net of adjustments, related to the 2020 Realignment Program: Inception to Date (Amounts in thousands) FPD FCD Subtotal–Reportable Segments All Other Consolidated Total Realignment Charges Restructuring Charges COS $ 23,872 $ 1,697 $ 25,569 $ — $ 25,569 SG&A 718 316 1,034 — 1,034 $ 24,590 $ 2,013 $ 26,603 $ — $ 26,603 Non-Restructuring Charges COS $ 24,653 $ 205 $ 24,858 $ 642 $ 25,500 SG&A 11,176 5,293 16,469 22,077 38,546 $ 35,829 $ 5,498 $ 41,327 $ 22,719 $ 64,046 Total Realignment Charges COS $ 48,525 $ 1,902 $ 50,427 $ 642 $ 51,069 SG&A 11,894 5,609 17,503 22,077 39,580 Total $ 60,419 $ 7,511 $ 67,930 $ 22,719 $ 90,649 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 the 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 our restructuring activities related to our 2020 Realignment Program: Three Months Ended June 30, 2021 (Amounts in thousands) Severance Contract Termination Asset Write-Downs Other Total COS $ (154) $ — $ (849) $ 3,190 $ 2,187 SG&A 168 — — 499 667 Total $ 14 $ — $ (849) $ 3,689 $ 2,854 Three Months Ended June 30, 2020 (Amounts in thousands) Severance Contract Termination Asset Write-Downs Other Total COS $ 10,572 $ — $ 994 $ (83) $ 11,483 SG&A 126 — 3 — 129 Total $ 10,698 $ — $ 997 $ (83) $ 11,612 Six Months Ended June 30, 2021 (Amounts in thousands) Severance Contract Termination Asset Write-Downs Other Total COS $ 1,219 $ — $ 1,341 $ 3,953 $ 6,513 SG&A 168 — 490 658 Total $ 1,387 $ — $ 1,341 $ 4,443 $ 7,171 Six Months Ended June 30, 2020 (Amounts in thousands) Severance Contract Termination Asset Write-Downs Other Total COS $ 12,255 $ — $ 991 $ (187) $ 13,059 SG&A 265 — — (38) 227 Total $ 12,520 $ — $ 991 $ (225) $ 13,286 The following is a summary of total inception to date restructuring charges, net of adjustments, related to our 2020 Realignment Program: Inception to Date (Amounts in thousands) Severance Contract Termination Asset Write-Downs Other Total COS $ 16,463 $ 52 $ 2,753 $ 6,301 $ 25,569 SG&A 252 — 14 768 1,034 Total $ 16,715 $ 52 $ 2,767 $ 7,069 $ 26,603 The following represents the activity, primarily severance charges from reductions in force, related to the restructuring reserves for the six months ended June 30, 2021 and 2020: (Amounts in thousands) 2021 2020 Balance at January 1 $ 18,255 $ 6,703 Charges, net of adjustments 5,830 12,270 Cash expenditures (14,388) (2,713) Other non-cash adjustments, including currency (461) (118) Balance at June 30 $ 9,236 $ 16,142

Basis of Presentation and Acc_2

Basis of Presentation and Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying condensed consolidated balance sheet as of June 30, 2021, the related condensed consolidated statements of income and comprehensive income (loss) for the three and six months ended June 30, 2021 and 2020, the condensed consolidated statements of shareholders' equity for the three and six months ended June 30, 2021 and 2020 and the condensed consolidated statements of cash flows for the six months ended June 30, 2021 and 2020 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.
Accounting developments	Accounting Developments Pronouncements Implemented In January 2020, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2020-01, "Investments—Equity Securities (Topic 321), Investments—Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815): Clarifying the Interactions between Topics 321, 323 and 815." The amendments of the ASU addresses accounting for the transition into and out of the equity method and measurement of certain purchased options and forward contracts to acquire investments. The ASU is effective for annual periods beginning after December 15, 2020 and the amendments should be applied retrospectively to all periods presented. The adoption of this ASU did not have an impact on our consolidated financial condition, results of operations or net cash flows. In March of 2020, the FASB issued ASU No. 2020-04, "Reference Rate Reform (Topic 848): Facilitation of The Effects of Reference Rate Reform on Financial Reporting." The ASU provides guidance designed to enable the process for migrating away from reference rates such as the London Interbank Offered Rate ("LIBOR") and others to new reference rates. Further, the amendments of the ASU provides optional expedients and exceptions for applying U.S. GAAP to contract modifications and hedging relationships, subject to meeting certain criteria, that reference LIBOR or another reference rate expected to be discontinued. The amendments are effective as of March 12, 2020 through December 31, 2022 and may be applied to contract modifications and hedging relationships from the beginning of an interim period that includes or is subsequent to March 12, 2020. At this time, we do not have hedging relationships that reference LIBOR or another reference rate expected to be discontinued and therefore, have not applied the practical expedients and exceptions as required by the ASU. As referenced in Note 7 of this Quarterly Report, the Company’s Senior Credit Facility agreement includes a transition clause in the event LIBOR is discontinued, as such, we do not expect the transition of LIBOR to have a material impact on our consolidated financial statements. We do not expect the application of these expedients and exceptions to have an impact on our consolidated financial condition and results of operations. In October 2020, the FASB issued ASU No. 2020-10, "Codification Improvements: Amendments to the FASB Accounting Standards Codification." The amendments in this ASU do not change GAAP and, therefore, are not expected to result in a significant change in practice. Rather, the amendments are intended to improve codification guidance and disclosure requirements in Company's financial statements and notes to the financial statements. The amendments are effective for annual periods beginning after December 15, 2020 and the amendments should be applied retrospectively to all periods presented. The adoption of this ASU did not have an impact on our consolidated financial condition, results of operations or net cash flows.
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

Revision to Previously Report_2

Revision to Previously Reported Financial Information (Tables)	6 Months Ended
	Jun. 30, 2021
Accounting Changes and Error Corrections [Abstract]
Schedule of Adjustments	The following tables present the impact to the affected line items on our condensed consolidated financial statements for the periods indicated for the correction of the accounting error involving foreign currency transactions identified in the first quarter of 2021, the accounting errors related to the recognition of a liability for unasserted asbestos claims identified in the third quarter of 2020, and other immaterial misstatements previously identified: June 30, 2020 (Amounts in thousands) As Reported Adjustments As Revised Contract assets, net of allowance for expected credit losses $ 309,149 $ 47 $ 309,196 Total current assets 2,430,555 47 2,430,602 Property, plant and equipment, net of accumulated depreciation(1) 541,768 5,703 547,471 Other assets, net of allowance for expected credit losses(2) 218,604 16,926 235,530 Total assets 4,755,702 22,676 4,778,378 Accrued liabilities(3) 401,041 (4,029) 397,012 Contract liabilities(4) 214,135 5,498 219,633 Debt due within one year 9,058 156 9,214 Total current liabilities 1,088,738 1,625 1,090,363 Long-term debt due after one year(1) 1,367,478 5,646 1,373,124 Retirement obligations and other liabilities(5) $ 470,400 $ 59,546 $ 529,946 Retained earnings(6) 3,643,868 (33,398) 3,610,470 Accumulated other comprehensive loss (643,173) (10,743) (653,916) Total Flowserve Corporation shareholders’ equity 1,662,572 (44,141) 1,618,431 Total equity 1,690,351 (44,141) 1,646,210 Total liabilities and equity $ 4,755,702 $ 22,676 $ 4,778,378 ______________________________________ (1) Adjustment relates to right-of-use (“ROU”) asset and lease liability for an operating lease. (2) Adjustment relates to the associated receivables for expected insurance proceeds for asbestos settlements and defense costs. (3 ) Adjustment primarily relates to non-restructuring realignment charges associated with workforce reductions in our Realignment Programs ("2020 Realignment Program"). Refer to Note 17 for further discussion of this program. (4) Adjustment relates to one of our sites for correction in contract position caused by errors in estimated costs under the over time revenue recognition model. (5) Adjustment primarily relates to IBNR reserves associated with unasserted asbestos claims. (6) The adjustments to retained earnings are the cumulative effect of the immaterial errors that were corrected in prior periods. Three Months Ended June 30, 2020 (Amounts in thousands, except per share data) As Reported Adjustments As Revised Sales $ 924,965 $ 47 $ 925,012 Cost of sales(1) (657,805) 2,500 (655,305) Gross profit 267,160 2,547 269,707 Selling, general and administrative expense(2) (227,358) (1,985) (229,343) Operating income 42,888 564 43,452 Other income (expense), net(3) (14,941) (3,966) (18,907) Earnings before income taxes 16,196 (3,437) 12,759 Provision for income taxes (5,409) 924 (4,485) Net earnings, including noncontrolling interests 10,787 (2,513) 8,274 Net earnings (loss) attributable to Flowserve Corporation $ 8,645 $ (2,513) $ 6,132 Net earnings (loss) per share attributable to Flowserve Corporation common shareholders: Basic $ 0.07 $ (0.02) $ 0.05 Diluted 0.07 (0.02) 0.05 ______________________________________ (1) Adjustment primarily relates to non-restructuring realignment charges associated with workforce reductions in our 2020 Realignment Program. (2) Adjustment primarily relates to asbestos settlement and defense costs for related legal fees. (3) Adjustment relates to the accounting error involving foreign currency transactions. Three Months Ended June 30, 2020 (Amounts in thousands) As Reported Adjustments As Revised Net earnings, including noncontrolling interests(1) $ 10,787 $ (2,513) $ 8,274 Other comprehensive income (loss): Foreign currency translation adjustments, net of taxes(2) 15,084 3,964 19,048 Other comprehensive income (loss) 16,886 3,964 20,850 Comprehensive income (loss), including noncontrolling interests 27,673 1,451 29,124 Comprehensive income (loss) attributable to Flowserve Corporation $ 25,594 $ 1,451 $ 27,045 _______________________________________ (1) Adjustment relates to cumulative effect of the accounting errors that were corrected in the periods, as outlined above. (2) Adjustment relates to the accounting error involving foreign currency transactions. Six Months Ended June 30, 2020 (Amounts in thousands, except per share data) As Reported Adjustments As Revised Sales $ 1,819,422 $ (896) $ 1,818,526 Cost of sales(1) (1,286,285) 3,925 (1,282,360) Gross profit 533,137 3,029 536,166 Selling, general and administrative expense(2) (470,980) (3,814) (474,794) Operating income 68,440 (785) 67,655 Interest expense (25,863) (35) (25,898) Other income (expense), net(3) 8,521 10,774 19,295 Earnings before income taxes 53,996 9,954 63,950 Provision for income taxes (41,719) 266 (41,453) Net earnings, including noncontrolling interests 12,277 10,220 22,497 Net earnings (loss) attributable to Flowserve Corporation $ 8,035 $ 10,219 $ 18,254 Net earnings (loss) per share attributable to Flowserve Corporation common shareholders: Basic $ 0.06 $ 0.08 $ 0.14 Diluted 0.06 0.08 0.14 _______________________________________ (1) Adjustment primarily relates to non-restructuring realignment charges associated with workforce reductions in our 2020 Realignment Program. (2) Adjustment primarily relates to asbestos settlement and defense costs for related legal fees. (3) Adjustment relates to the accounting error involving foreign currency transactions. Six Months Ended June 30, 2020 (Amounts in thousands) As Reported Adjustments As Revised Net earnings, including noncontrolling interests(1) $ 12,277 $ 10,220 $ 22,497 Other comprehensive income (loss): Foreign currency translation adjustments, net of taxes(2) (66,269) (10,744) (77,013) Other comprehensive income (loss) (58,104) (10,744) (68,848) Comprehensive income (loss), including noncontrolling interests (45,827) (524) (46,351) Comprehensive income (loss) attributable to Flowserve Corporation $ (50,845) $ (524) $ (51,369) _______________________________________ (1) Adjustment relates to cumulative effect of the accounting errors that were corrected in the periods, as outlined above. (2) Adjustment relates to the accounting error involving foreign currency transactions. The following tables present the impact to affected line items on our condensed consolidated financial statements for the periods indicated for the correction of the accounting error involving foreign currency transactions identified in the first quarter of 2021: September 30, 2020 (Amounts in thousands) As Reported Adjustments(1) As Revised Retirement obligations and other liabilities $ 541,721 $ 1,500 $ 543,221 Retained earnings 3,625,291 14,936 3,640,227 Accumulated other comprehensive loss (618,856) (16,436) (635,292) Total Flowserve Corporation shareholders’ equity 1,673,421 (1,500) 1,671,921 Total equity 1,703,843 (1,500) 1,702,343 _______________________________________ (1) Adjustments relate to the accounting error involving foreign currency transactions. Three Months Ended September 30, 2020 (Amounts in thousands, except per share data) As Reported Adjustments(1) As Revised Other income (expense), net $ (963) $ 5,636 $ 4,673 Earnings before income taxes 72,322 5,636 77,958 Provision for income taxes (18,672) (524) (19,196) Net earnings, including noncontrolling interests 53,650 5,112 58,762 Net earnings attributable to Flowserve Corporation $ 51,003 $ 5,112 $ 56,115 Net earnings per share attributable to Flowserve Corporation common shareholders: Basic $ 0.39 $ 0.04 $ 0.43 Diluted 0.39 0.04 0.43 _______________________________________ (1) Adjustments relate to the accounting error involving foreign currency transactions. Three Months Ended September 30, 2020 (Amounts in thousands) As Reported Adjustments(1) As Revised Net earnings, including noncontrolling interests $ 53,650 $ 5,112 $ 58,762 Other comprehensive income (loss): Foreign currency translation adjustments, net of taxes 25,204 (5,649) 19,555 Other comprehensive income (loss) 24,269 (5,649) 18,620 Comprehensive income (loss), including noncontrolling interests 77,919 (537) 77,382 Comprehensive income (loss) attributable to Flowserve Corporation $ 75,276 $ (537) $ 74,739 _______________________________________ (1) Adjustments relate to the accounting error involving foreign currency transactions. (Amounts in thousands, except per share data) Nine Months Ended September 30, 2020 As Reported Adjustments(1) As Revised Other income (expense), net $ 7,558 $ 16,411 $ 23,969 Earnings before income taxes 125,498 16,411 141,909 Provision for income taxes (59,175) (1,475) (60,650) Net earnings, including noncontrolling interests 66,323 14,936 81,259 Net earnings attributable to Flowserve Corporation $ 59,433 $ 14,936 $ 74,369 Net earnings per share attributable to Flowserve Corporation common shareholders: Basic $ 0.46 $ 0.11 $ 0.57 Diluted 0.45 0.12 0.57 _______________________________________ (1) Adjustments relate to the accounting error involving foreign currency transactions. Nine Months Ended September 30, 2020 (Amounts in thousands) As Reported Adjustments(1) As Revised Net earnings, including noncontrolling interests $ 66,323 $ 14,936 $ 81,259 Other comprehensive income (loss): Foreign currency translation adjustments, net of taxes (41,022) (16,434) (57,456) Other comprehensive income (loss) (33,792) (16,434) (50,226) Comprehensive income (loss), including noncontrolling interests 32,531 (1,498) 31,033 Comprehensive income (loss) attributable to Flowserve Corporation $ 24,869 $ (1,498) $ 23,371 _______________________________________ (1) Adjustments relate to the accounting error involving foreign currency transactions. December 31, 2020 (Amounts in thousands) As Reported Adjustments(1) As Revised Retirement obligations and other liabilities $ 516,087 $ 1,479 $ 517,566 Retained earnings 3,656,449 14,094 3,670,543 Accumulated other comprehensive loss (594,052) (15,573) (609,625) Total Flowserve Corporation shareholders’ equity 1,732,470 (1,479) 1,730,991 Total equity 1,762,800 (1,479) 1,761,321 _______________________________________ (1) Adjustments relate to the accounting error involving foreign currency transactions. (Amounts in thousands, except per share data) Three Months Ended December 31, 2020 As Reported Adjustments(1) As Revised Other income (expense), net $ (17,811) $ (931) $ (18,742) Earnings before income taxes 61,314 (931) 60,383 Provision for income taxes (856) 89 (767) Net earnings, including noncontrolling interests 60,458 (842) 59,616 Net earnings attributable to Flowserve Corporation $ 56,893 $ (842) $ 56,051 Net earnings per share attributable to Flowserve Corporation common shareholders: Basic $ 0.44 $ (0.01) $ 0.43 Diluted 0.43 — 0.43 ______________________________________ (1) Adjustments relate to the accounting error involving foreign currency transactions. Three Months Ended December 31, 2020 (Amounts in thousands) As Reported Adjustments(1) As Revised Net earnings, including noncontrolling interests $ 60,458 $ (842) $ 59,616 Other comprehensive income (loss): Foreign currency translation adjustments, net of taxes 41,411 862 42,273 Other comprehensive income (loss) 24,803 862 25,665 Comprehensive income (loss), including noncontrolling interests 85,261 20 85,281 Comprehensive income (loss) attributable to Flowserve Corporation $ 81,698 $ 20 $ 81,718 ______________________________________ (1) Adjustments relate to the accounting error involving foreign currency transactions. (Amounts in thousands, except per share data) Year Ended December 31, 2020 As Reported Adjustments(1) As Revised Other income (expense), net $ (10,254) $ 15,480 $ 5,226 Earnings before income taxes 186,812 15,480 202,292 Provision for income taxes (60,031) (1,386) (61,417) Net earnings, including noncontrolling interests 126,781 14,094 140,875 Net earnings attributable to Flowserve Corporation $ 116,326 $ 14,094 $ 130,420 Net earnings per share attributable to Flowserve Corporation common shareholders: Basic $ 0.89 $ 0.11 $ 1.00 Diluted 0.89 0.11 1.00 ______________________________________ (1) Adjustments relate to the accounting error involving foreign currency transactions. Year Ended December 31, 2020 (Amounts in thousands) As Reported Adjustments(1) As Revised Net earnings, including noncontrolling interests $ 126,781 $ 14,094 $ 140,875 Other comprehensive income (loss): Foreign currency translation adjustments, net of taxes 388 (15,571) (15,183) Other comprehensive income (loss) (8,991) (15,571) (24,562) Comprehensive income (loss), including noncontrolling interests 117,790 (1,477) 116,313 Comprehensive income (loss) attributable to Flowserve Corporation $ 106,565 $ (1,477) $ 105,088 ______________________________________ (1) Adjustments relate to the accounting error involving foreign currency transactions. Six Months Ended June 30, 2020 (Amounts in thousands) As Reported Adjustments As Revised Net cash flows provided (used) by operating activities (1) $ 21,231 $ (1,048) $ 20,183 Net cash flows provided (used) by investing activities (2) (21,161) 2,899 (18,262) Net cash flows provided (used) by financing activities(3) (91,881) (1,851) (93,732) Cash and cash equivalents at end of period 561,705 — 561,705 ______________________________________ (1) Adjustment relates to cumulative effect of the accounting errors that were corrected in the periods, as outlined above. (2) Primarily related to adjustments resulting from the misclassification of Software as a service arrangements as property, plant and equipment rather than other assets, net, as prescribed by ASU 2018-15. (3) Primarily resulting from the misclassification of non-cash items under proceeds and payments under other financing arrangements in financing activities, rather than other assets, net, in operating activities. Nine Months Ended September 30, 2020 (Amounts in thousands) As Reported Adjustments As Revised Net cash flows provided (used) by operating activities (1) $ 115,629 $ (1,380) $ 114,249 Net cash flows provided (used) by investing activities (1) (34,160) 1,495 (32,665) Net cash flows provided (used) by financing activities 178,972 (115) 178,857 Cash and cash equivalents at end of period 921,178 — 921,178 _______________________________________ (1) Primarily related to adjustments resulting from the misclassification of Software as a service arrangements as property, plant and equipment rather than other assets, net, as prescribed by ASU 2018-15.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following tables present our customer revenues disaggregated by revenue source: Three Months Ended June 30, 2021 (Amounts in thousands) FPD FCD Total Original Equipment $ 220,387 $ 214,097 $ 434,484 Aftermarket 397,047 66,647 463,694 $ 617,434 $ 280,744 $ 898,178 Three Months Ended June 30, 2020 FPD FCD Total Original Equipment $ 271,465 $ 191,358 $ 462,823 Aftermarket 402,089 60,100 462,189 $ 673,554 $ 251,458 $ 925,012 Six Months Ended June 30, 2021 (Amounts in thousands) FPD FCD Total Original Equipment $ 434,541 $ 406,817 $ 841,358 Aftermarket 785,059 129,069 914,128 $ 1,219,600 $ 535,886 $ 1,755,486 Six Months Ended June 30, 2020 FPD FCD Total Original Equipment $ 524,198 $ 389,977 $ 914,175 Aftermarket 784,482 119,869 904,351 $ 1,308,680 $ 509,846 $ 1,818,526 Our customer sales are diversified geographically. The following tables present our revenues disaggregated by geography, based on the shipping addresses of our customers: Three Months Ended June 30, 2021 (Amounts in thousands) FPD FCD Total North America(1) $ 243,611 $ 98,118 $ 341,729 Latin America(2) 52,219 8,879 61,098 Middle East and Africa 69,662 26,530 96,192 Asia Pacific 119,375 88,944 208,319 Europe 132,567 58,273 190,840 $ 617,434 $ 280,744 $ 898,178 Three Months Ended June 30, 2020 FPD FCD Total North America(1) $ 269,610 $ 106,737 $ 376,347 Latin America(2) 46,909 6,905 53,814 Middle East and Africa 96,740 21,687 118,427 Asia Pacific 128,102 64,546 192,648 Europe 132,193 51,583 183,776 $ 673,554 $ 251,458 $ 925,012 Six Months Ended June 30, 2021 (Amounts in thousands) FPD FCD Total North America(1) $ 467,582 $ 188,368 $ 655,950 Latin America(2) 94,256 15,694 109,950 Middle East and Africa 152,207 54,226 206,433 Asia Pacific 244,027 167,600 411,627 Europe 261,528 109,998 371,526 $ 1,219,600 $ 535,886 $ 1,755,486 Six Months Ended June 30, 2020 FPD FCD Total North America(1) $ 537,135 $ 229,862 $ 766,997 Latin America(2) 89,096 12,415 101,511 Middle East and Africa 193,908 48,352 242,260 Asia Pacific 240,557 119,103 359,660 Europe 247,984 100,114 348,098 $ 1,308,680 $ 509,846 $ 1,818,526 __________________________________ (1) North America represents the United States and Canada. (2) Latin America includes Mexico.
Contract liabilities	The following tables present beginning and ending balances of contract assets and contract liabilities, current and long-term, for the six months ended June 30, 2021 and 2020: (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, 2021 $ 277,734 $ 1,139 $ 194,227 $ 822 Revenue recognized that was included in contract liabilities at the beginning of the period — — (112,835) — Revenue recognized in the period in excess of billings 321,040 54 — — Billings arising during the period in excess of revenue recognized — — 126,591 — Amounts transferred from contract assets to receivables (326,634) (28) — — Currency effects and other, net (9,909) (86) 1,109 (19) Ending balance, June 30, 2021 $ 262,231 $ 1,079 $ 209,092 $ 803 (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, 2020 $ 272,914 $ 9,280 $ 221,095 $ 1,652 Revenue recognized that was included in contract liabilities at the beginning of the period — — (138,994) (646) Revenue recognized in the period in excess of billings 386,250 511 — — Billings arising during the period in excess of revenue recognized — — 141,156 — Amounts transferred from contract assets to receivables (335,505) (93) — — Currency effects and other, net (14,463) (6,689) (3,624) (31) Ending balance, June 30, 2020 $ 309,196 $ 3,009 $ 219,633 $ 975 _____________________________________ (1) Included in other assets, net.

Allowance for Expected Credit_2

Allowance for Expected Credit Losses (Tables)	6 Months Ended
	Jun. 30, 2021
Credit Loss [Abstract]
Summary of Changes in Allowance for Expected Credit Losses for Trade Receivables	The following table presents the changes in the allowance for expected credit losses for our trade receivables and contract assets for the six months ended June 30, 2021 and 2020: (Amounts in thousands) Trade receivables Contract assets Beginning balance, January 1, 2021 $ 75,176 $ 3,205 Charges to cost and expenses, net of recoveries 865 — Write-offs (2,015) — Currency effects and other, net 756 (167) Ending balance, June 30, 2021 $ 74,782 $ 3,038 Beginning balance, January 1, 2020 $ 53,412 $ 206 Adoption of ASU 2016-13 6,970 2,779 Charges to cost and expenses, net of recoveries 11,800 — Currency effects and other, net (98) 25 Ending balance, June 30, 2020 $ 72,084 $ 3,010
Summary of Changes in Allowance for Expected Credit Losses for Contract Assets	The following table presents the changes in the allowance for expected credit losses for our trade receivables and contract assets for the six months ended June 30, 2021 and 2020: (Amounts in thousands) Trade receivables Contract assets Beginning balance, January 1, 2021 $ 75,176 $ 3,205 Charges to cost and expenses, net of recoveries 865 — Write-offs (2,015) — Currency effects and other, net 756 (167) Ending balance, June 30, 2021 $ 74,782 $ 3,038 Beginning balance, January 1, 2020 $ 53,412 $ 206 Adoption of ASU 2016-13 6,970 2,779 Charges to cost and expenses, net of recoveries 11,800 — Currency effects and other, net (98) 25 Ending balance, June 30, 2020 $ 72,084 $ 3,010
Summary of Changes in Allowance for Expected Credit Losses for Long-term Receivables	The following table presents the changes in the allowance for long-term receivables for the six months ended June 30, 2021 and 2020: (Amounts in thousands) 2021 2020 Balance at January 1 $ 67,842 $ 68,555 Adoption of ASU 2016-13 — (679) Currency effects and other, net (72) (617) Balance at June 30 $ 67,770 $ 67,259

Stock-Based Compensation Plans

Stock-Based Compensation Plans (Tables)	6 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
Information Regarding Restricted Shares	The following table summarizes information regarding Restricted Shares: Six Months Ended June 30, 2021 Shares Weighted Average Number of unvested shares: Outstanding - January 1, 2021 1,373,657 $ 46.76 Granted 995,204 39.59 Vested (550,370) 44.27 Forfeited (117,090) 48.01 Outstanding as of June 30, 2021 1,701,401 $ 43.29

Derivative Instruments and He_2

Derivative Instruments and Hedges (Tables)	6 Months Ended
	Jun. 30, 2021
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: June 30, December 31, (Amounts in thousands) 2021 2020 Current derivative assets $ 1,389 $ 2,857 Noncurrent derivative assets 20 249 Current derivative liabilities 914 682 Noncurrent derivative liabilities 62 —
Impact of Net Changes in Fair Values of Forward Exchange Contracts Not Designated as Hedging Instruments	The impact of net changes in the fair values of foreign exchange contracts are summarized below: Three Months Ended June 30, Six Months Ended June 30, (Amounts in thousands) 2021 2020 2021 2020 (Losses) gains recognized in income $ (4,312) $ (3,520) $ 1,793 $ (61) The cumulative net investment hedge loss, net of deferred taxes, under cross-currency swaps recorded in accumulated other comprehensive loss ("AOCL") on our condensed consolidated balance sheet are summarized below: Three Months Ended June 30, Six Months Ended June 30, (Amounts in thousands) 2021 2020 2021 2020 Loss (gain)-included component (1) $ 1,798 $ — $ 185 $ — (Gain) loss-excluded component (2) (11,749) — 3,890 — (Gain) loss recognized in AOCL $ (9,951) $ — $ 4,075 $ — _____________________________________________ (1) Change in the fair value of the swaps attributable to changes in spot rates.
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss)	Prior to the dedesignation, the cumulative impact recorded in AOCL on our condensed consolidated balance sheet from the change in carrying value due to the remeasurement of the effective portion of the net investment hedge are summarized below: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 (Amounts in thousands) Loss recognized in AOCL $ — $ 3,990 $ 29,554 $ 12,510

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Debt Including Capital Lease Obligations	Debt, including finance lease obligations, net of discounts and debt issuance costs, consisted of: June 30, December 31, (Amounts in thousands, except percentages) 2021 2020 1.25% EUR Senior Notes due March 17, 2022, net of unamortized discount and debt issuance costs of $1,070 as of December 31, 2020 $ — $ 410,243 3.50% USD Senior Notes due September 15, 2022, net of unamortized discount and debt issuance costs of $882 and $1,235 499,118 498,765 4.00% USD Senior Notes due November 15, 2023, net of unamortized discount and debt issuance costs of $1,122 and $1,345 298,878 298,655 3.50% USD Senior Notes due October 1, 2030, net of unamortized discount and debt issuance costs of $5,881 and $6,147 494,119 493,853 Finance lease obligations and other borrowings 24,633 25,390 Debt and finance lease obligations 1,316,748 1,726,906 Less amounts due within one year 9,599 8,995 Total debt due after one year $ 1,307,149 $ 1,717,911

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2021
Inventory Disclosure [Abstract]
Net Components of Inventory	Inventories, net consisted of the following: June 30, December 31, (Amounts in thousands) 2021 2020 Raw materials $ 327,799 $ 321,600 Work in process 253,097 210,174 Finished goods 201,802 221,532 Less: Excess and obsolete reserve (92,553) (86,078) Inventories, net $ 690,145 $ 667,228

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Calculation of Net Earnings Per Common Share and Weighted Average Common Share Outstanding	The following is a reconciliation of net earnings of Flowserve Corporation and weighted average shares for calculating net earnings per common share. Earnings per weighted average common share outstanding was calculated as follows: Three Months Ended June 30, (Amounts in thousands, except per share data) 2021 2020 Net earnings of Flowserve Corporation $ 45,354 $ 6,132 Dividends on restricted shares not expected to vest — — Earnings attributable to common and participating shareholders $ 45,354 $ 6,132 Weighted average shares: Common stock 130,279 130,148 Participating securities 26 22 Denominator for basic earnings per common share 130,305 130,170 Effect of potentially dilutive securities 499 560 Denominator for diluted earnings per common share 130,804 130,730 Earnings per common share: Basic $ 0.35 $ 0.05 Diluted 0.35 0.05 Six Months Ended June 30, (Amounts in thousands, except per share data) 2021 2020 Net earnings of Flowserve Corporation $ 59,434 $ 18,254 Dividends on restricted shares not expected to vest — — Earnings attributable to common and participating shareholders $ 59,434 $ 18,254 Weighted average shares: Common stock 130,342 130,439 Participating securities 24 24 Denominator for basic earnings per common share 130,366 130,463 Effect of potentially dilutive securities 539 689 Denominator for diluted earnings per common share 130,905 131,152 Earnings per common share: Basic $ 0.46 $ 0.14 Diluted 0.45 0.14

Legal Matters and Contingenci_2

Legal Matters and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Schedule of Loss Contingencies by Contingency	Activity related to asbestos claims during the periods indicated was as follows: Three Months Ended Six Months Year Ended June 30, June 30, December 31, 2021 2020 2021 2020 2020 Beginning claims(1) 8,445 8,282 8,366 8,345 8,345 New claims 603 456 1,232 1,037 2,140 Resolved claims (479) (667) (1,023) (1,308) (2,203) Other(2) (10) 29 (16) 26 84 Ending claims(1) 8,559 8,100 8,559 8,100 8,366 ____________________ (1) Beginning and ending claims data in each period excludes inactive claims, as the Company considers it unlikely that inactive cases will be pursued further by the respective plaintiffs. A claim is classified as inactive either due to inactivity over a period of time or if designated as inactive by the applicable court. (2) Represents the net change in claims as a result of the reclassification of active cases as inactive and inactive cases as active during the period indicated.

Retirement and Postretirement_2

Retirement and Postretirement Benefits (Tables)	6 Months Ended
	Jun. 30, 2021
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 June 30, 2021 and 2020 were as follows: U.S. Non-U.S. Postretirement (Amounts in millions) 2021 2020 2021 2020 2021 2020 Service cost $ 5.8 $ 6.6 $ 1.9 $ 1.7 $ — $ — Interest cost 2.9 3.7 1.4 1.6 0.1 0.2 Expected return on plan assets (6.2) (6.1) (1.7) (1.2) — — Amortization of prior service cost 0.1 0.1 0.1 — 0.1 — Amortization of unrecognized net loss (gain) 2.0 1.8 1.2 1.1 — — Net periodic cost recognized $ 4.6 $ 6.1 $ 2.9 $ 3.2 $ 0.2 $ 0.2 Components of the net periodic cost for retirement and postretirement benefits for the six months ended June 30, 2021 and 2020 were as follows: U.S. Non-U.S. Postretirement (Amounts in millions) 2021 2020 2021 2020 2021 2020 Service cost $ 12.6 $ 12.9 $ 3.7 $ 3.4 $ — $ — Interest cost 6.0 7.5 2.8 3.2 0.2 0.3 Expected return on plan assets (12.7) (12.8) (3.2) (2.4) — — Amortization of prior service cost 0.1 0.1 0.2 0.1 0.1 0.1 Amortization of unrecognized net loss (gain) 3.9 3.5 2.3 2.1 — (0.1) Net periodic cost recognized $ 9.9 $ 11.2 $ 5.8 $ 6.4 $ 0.3 $ 0.3

Statement of Shareholders' Equi

Statement of Shareholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2021
Equity [Abstract]
Summary of Dividends Declared	Dividends declared per share were as follows: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Dividends declared per share $ 0.20 $ 0.20 $ 0.40 $ 0.40

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
Summarized Financial Information of Reportable Segments	The following is a summary of the financial information of the reportable segments reconciled to the amounts reported in the condensed consolidated financial statements: Three Months Ended June 30, 2021 (Amounts in thousands) FPD FCD Subtotal–Reportable Segments Eliminations and All Other Consolidated Total Sales to external customers $ 617,434 $ 280,744 $ 898,178 $ — $ 898,178 Intersegment sales 257 416 673 (673) — Segment operating income 67,845 37,229 105,074 (32,912) 72,162 Three Months Ended June 30, 2020 FPD FCD Subtotal–Reportable Segments Eliminations and All Other Consolidated Total Sales to external customers $ 673,554 $ 251,458 $ 925,012 $ — $ 925,012 Intersegment sales 510 828 1,338 (1,338) — Segment operating income 60,355 26,227 86,582 (43,130) 43,452 Six Months Ended June 30, 2021 (Amounts in thousands) FPD FCD Subtotal–Reportable Segments Eliminations and All Other Consolidated Total Sales to external customers $ 1,219,600 $ 535,886 $ 1,755,486 $ — $ 1,755,486 Intersegment sales 733 1,096 1,829 (1,829) — Segment operating income 121,627 61,942 183,569 (55,304) 128,265 Six Months Ended June 30, 2020 FPD FCD Subtotal–Reportable Segments Eliminations and All Other Consolidated Total Sales to external customers $ 1,308,680 $ 509,846 $ 1,818,526 $ — $ 1,818,526 Intersegment sales 1,037 1,825 2,862 (2,862) — Segment operating income 100,080 43,408 143,488 (75,833) 67,655

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Jun. 30, 2021
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 June 30, 2021 and 2020: 2021 2020 (Amounts in thousands) Foreign currency translation items(1) Pension and other post-retirement effects Cash flow hedging activity Total(1) Foreign currency translation items(1) Pension and other post-retirement effects Cash flow hedging activity Total(1) Balance - April 1 $ (467,326) $ (142,464) $ (286) $ (610,076) $ (537,425) $ (130,852) $ (617) $ (668,894) Other comprehensive income (loss) before reclassifications 13,998 (713) 15 13,300 19,048 (793) 44 18,299 Amounts reclassified from AOCL — 2,772 — 2,772 — 2,551 — 2,551 Net current-period other comprehensive income (loss) 13,998 2,059 15 16,072 19,048 1,758 44 20,850 Balance - June 30 $ (453,328) $ (140,405) $ (271) $ (594,004) $ (518,377) $ (129,094) $ (573) $ (648,044) ________________________________ (1) Includes foreign currency translation adjustments attributable to noncontrolling interests of $6.1 million and $5.9 million at April 1, 2021 and 2020, respectively, and $6.1 million and $5.9 million at June 30, 2021 and 2020, respectively. Amounts in parentheses indicate an increase to AOCL.
Reclassifications out of Accumulated Other Comprehensive Income (Loss)	The following table presents the reclassifications out of AOCL: Three Months Ended June 30, (Amounts in thousands) Affected line item in the statement of income 2021(1) 2020(1) Pension and other postretirement effects Amortization of actuarial losses(2) Other income (expense), net $ (3,089) $ (2,857) Prior service costs(2) Other income (expense), net (155) (138) Tax benefit 472 444 Net of tax $ (2,772) $ (2,551) __________________________________ (1) Amounts in parentheses indicate decreases to income. None of the reclassified amounts have a noncontrolling interest component. (2) These AOCL 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 six months ended June 30, 2021 and 2020: 2021 2020 (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 $ (456,437) $ (146,723) $ (488) $ (603,648) $ (441,364) $ (137,161) $ (671) $ (579,196) Other comprehensive (loss) income before reclassifications 3,109 804 217 4,130 (77,013) 3,116 98 (73,799) Amounts reclassified from AOCL — 5,514 — 5,514 — 4,951 — 4,951 Net current-period other comprehensive (loss) income 3,109 6,318 217 9,644 (77,013) 8,067 98 (68,848) Balance - June 30 $ (453,328) $ (140,405) $ (271) $ (594,004) $ (518,377) $ (129,094) $ (573) $ (648,044) (1) Includes foreign currency translation adjustments attributable to noncontrolling interests of $5.9 million and $5.1 million at January 1, 2021 and 2020, respectively, and $6.1 million and $5.9 million at June 30, 2021 and 2020, respectively. Amounts in parentheses indicate an increase to AOCL. The following table presents the reclassifications out of AOCL: Six Months Ended June 30, (Amounts in thousands) Affected line item in the statement of income 2021(1) 2020(1) Pension and other postretirement effects Amortization of actuarial losses(2) Other income (expense), net $ (6,148) $ (5,514) Prior service costs(2) Other income (expense), net (308) (279) Tax benefit 942 842 Net of tax $ (5,514) $ (4,951) __________________________________ (1) Amounts in parentheses indicate decreases to income. None of the reclassified amounts have a noncontrolling interest component.

Realignment and Transformatio_2

Realignment and Transformation Programs (Tables)	6 Months Ended
	Jun. 30, 2021
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs	The following is a summary of total charges, net of adjustments, incurred in 2021 related to our 2020 Realignment Program and the total charges incurred in 2020 are related to our 2020 Realignment Program and Flowserve 2.0 Transformation: Three Months Ended June 30, 2021 (Amounts in thousands) FPD FCD Subtotal–Reportable Segments All Other Consolidated Total Realignment Charges Restructuring Charges COS $ 2,016 $ 171 $ 2,187 $ — $ 2,187 SG&A 667 — 667 — 667 $ 2,683 $ 171 $ 2,854 $ — $ 2,854 Non-Restructuring Charges COS $ 1,558 $ 80 $ 1,638 $ — $ 1,638 SG&A 338 (129) 209 915 1,124 $ 1,896 $ (49) $ 1,847 $ 915 $ 2,762 Total Realignment Charges COS $ 3,574 $ 251 $ 3,825 $ — $ 3,825 SG&A 1,005 (129) 876 915 1,791 Total $ 4,579 $ 122 $ 4,701 $ 915 $ 5,616 Three Months Ended June 30, 2020 (Amounts in thousands) FPD FCD Subtotal–Reportable Segments All Other Consolidated Total Realignment Charges Restructuring Charges COS $ 11,650 $ (167) $ 11,483 $ — $ 11,483 SG&A 126 3 129 — 129 $ 11,776 $ (164) $ 11,612 $ — $ 11,612 Non-Restructuring Charges COS $ 12,003 $ 2,917 $ 14,920 $ 548 $ 15,468 SG&A 9,316 4,333 13,649 14,852 28,501 $ 21,319 $ 7,250 $ 28,569 $ 15,400 $ 43,969 Total Realignment Charges COS $ 23,653 $ 2,750 $ 26,403 $ 548 $ 26,951 SG&A 9,442 4,336 13,778 14,852 $ 28,630 Total $ 33,095 $ 7,086 $ 40,181 $ 15,400 $ 55,581 Transformation Charges SG&A $ — $ — $ — $ 5,618 $ 5,618 $ — $ — $ — $ 5,618 $ 5,618 Total Realignment and Transformation Charges COS $ 23,653 $ 2,750 $ 26,403 $ 548 $ 26,951 SG&A 9,442 $ 4,336 13,778 20,470 34,248 Total $ 33,095 $ 7,086 $ 40,181 $ 21,018 $ 61,199 Six Months Ended June 30, 2021 (Amounts in thousands) FPD FCD Subtotal–Reportable Segments All Other Consolidated Total Realignment Charges Restructuring Charges COS $ 6,043 $ 470 $ 6,513 $ — $ 6,513 SG&A 667 (9) 658 — 658 $ 6,710 $ 461 $ 7,171 $ — $ 7,171 Non-Restructuring Charges COS $ 5,449 $ 678 $ 6,127 $ 590 $ 6,717 SG&A 495 739 1,234 4,195 5,429 $ 5,944 $ 1,417 $ 7,361 $ 4,785 $ 12,146 Total Realignment Charges COS $ 11,492 $ 1,148 $ 12,640 $ 590 $ 13,230 SG&A 1,162 730 1,892 4,195 6,087 Total $ 12,654 $ 1,878 $ 14,532 $ 4,785 $ 19,317 Six Months Ended June 30, 2020 (Amounts in thousands) FPD FCD Subtotal–Reportable Segments All Other Consolidated Total Restructuring Charges COS $ 13,331 $ (272) $ 13,059 $ — $ 13,059 SG&A(1) 230 (3) 227 — 227 $ 13,561 $ (275) $ 13,286 $ — $ 13,286 Non-Restructuring Charges COS $ 12,128 $ 9,242 $ 21,370 $ 548 $ 21,918 SG&A 9,801 4,384 14,185 15,497 29,682 $ 21,929 $ 13,626 $ 35,555 $ 16,045 $ 51,600 Total Realignment Charges COS $ 25,459 $ 8,970 $ 34,429 $ 548 $ 34,977 SG&A 10,031 4,381 14,412 15,497 29,909 Total $ 35,490 $ 13,351 $ 48,841 $ 16,045 $ 64,886 Transformation Charges SG&A $ — $ — $ — $ 11,261 $ 11,261 $ — $ — $ — $ 11,261 $ 11,261 Total Realignment Charges COS $ 25,459 $ 8,970 $ 34,429 $ 548 $ 34,977 SG&A 10,031 4,381 14,412 26,758 41,170 Total $ 35,490 $ 13,351 $ 48,841 $ 27,306 $ 76,147 The following is a summary of total inception to date charges, net of adjustments, related to the 2020 Realignment Program: Inception to Date (Amounts in thousands) FPD FCD Subtotal–Reportable Segments All Other Consolidated Total Realignment Charges Restructuring Charges COS $ 23,872 $ 1,697 $ 25,569 $ — $ 25,569 SG&A 718 316 1,034 — 1,034 $ 24,590 $ 2,013 $ 26,603 $ — $ 26,603 Non-Restructuring Charges COS $ 24,653 $ 205 $ 24,858 $ 642 $ 25,500 SG&A 11,176 5,293 16,469 22,077 38,546 $ 35,829 $ 5,498 $ 41,327 $ 22,719 $ 64,046 Total Realignment Charges COS $ 48,525 $ 1,902 $ 50,427 $ 642 $ 51,069 SG&A 11,894 5,609 17,503 22,077 39,580 Total $ 60,419 $ 7,511 $ 67,930 $ 22,719 $ 90,649
Schedule of Restructuring Reserve by Type of Cost	The following is a summary of restructuring charges, net of adjustments, for our restructuring activities related to our 2020 Realignment Program: Three Months Ended June 30, 2021 (Amounts in thousands) Severance Contract Termination Asset Write-Downs Other Total COS $ (154) $ — $ (849) $ 3,190 $ 2,187 SG&A 168 — — 499 667 Total $ 14 $ — $ (849) $ 3,689 $ 2,854 Three Months Ended June 30, 2020 (Amounts in thousands) Severance Contract Termination Asset Write-Downs Other Total COS $ 10,572 $ — $ 994 $ (83) $ 11,483 SG&A 126 — 3 — 129 Total $ 10,698 $ — $ 997 $ (83) $ 11,612 Six Months Ended June 30, 2021 (Amounts in thousands) Severance Contract Termination Asset Write-Downs Other Total COS $ 1,219 $ — $ 1,341 $ 3,953 $ 6,513 SG&A 168 — 490 658 Total $ 1,387 $ — $ 1,341 $ 4,443 $ 7,171 Six Months Ended June 30, 2020 (Amounts in thousands) Severance Contract Termination Asset Write-Downs Other Total COS $ 12,255 $ — $ 991 $ (187) $ 13,059 SG&A 265 — — (38) 227 Total $ 12,520 $ — $ 991 $ (225) $ 13,286 The following is a summary of total inception to date restructuring charges, net of adjustments, related to our 2020 Realignment Program: Inception to Date (Amounts in thousands) Severance Contract Termination Asset Write-Downs Other Total COS $ 16,463 $ 52 $ 2,753 $ 6,301 $ 25,569 SG&A 252 — 14 768 1,034 Total $ 16,715 $ 52 $ 2,767 $ 7,069 $ 26,603 The following represents the activity, primarily severance charges from reductions in force, related to the restructuring reserves for the six months ended June 30, 2021 and 2020: (Amounts in thousands) 2021 2020 Balance at January 1 $ 18,255 $ 6,703 Charges, net of adjustments 5,830 12,270 Cash expenditures (14,388) (2,713) Other non-cash adjustments, including currency (461) (118) Balance at June 30 $ 9,236 $ 16,142

Basis of Presentation and Acc_3

Basis of Presentation and Accounting Policies (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase to retirement obligations and other liabilities	$ 497,724	$ 517,566	$ 543,221	$ 529,946
Increase to retained earnings	3,677,117	3,670,543	3,640,227	3,610,470
Increase to accumulated other comprehensive loss	$ (600,143)	(609,625)	$ (635,292)	$ (653,916)
Foreign Currency Transactions
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase to retirement obligations and other liabilities		1,500
Increase to retained earnings		14,000
Increase to accumulated other comprehensive loss		$ (15,500)

Revision to Previously Report_3

Revision to Previously Reported Financial Information - Additional Information (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Increase to retained earnings	$ 3,677,117	$ 3,670,543	$ 3,640,227	$ 3,610,470
Increase to retirement obligations and other liabilities	497,724	517,566	543,221	529,946
Increase to accumulated other comprehensive loss	$ (600,143)	(609,625)	$ (635,292)	$ (653,916)
Foreign Currency Transactions
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Increase to retained earnings		14,000
Increase to retirement obligations and other liabilities		1,500
Increase to accumulated other comprehensive loss		$ (15,500)

Revision to Previously Report_4

Revision to Previously Reported Financial Information - Balance Sheet (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Contract assets, net of allowance for expected credit losses	$ 262,231		$ 277,734		$ 309,196
Total current assets	2,440,688		2,904,333		2,430,602
Property, plant and equipment, net of accumulated depreciation	526,101		556,873		547,471
Other assets, net of allowance for expected credit losses	227,145		221,426		235,530
Total assets	4,818,669		5,314,677		4,778,378
Accrued liabilities	422,161		463,222		397,012
Contract liabilities	209,092		194,227		219,633
Debt due within one year	9,599		8,995		9,214
Total current liabilities	1,069,716		1,141,633		1,090,363
Total debt due after one year	1,307,149		1,717,911		1,373,124
Retirement obligations and other liabilities	497,724		517,566	$ 543,221	529,946
Retained earnings	3,677,117		3,670,543	3,640,227	3,610,470
Accumulated other comprehensive loss	600,143		609,625	635,292	653,916
Total Flowserve Corporation shareholders’ equity	1,740,984		1,730,991	1,671,921	1,618,431
Total equity	1,770,692	$ 1,741,786	1,761,321	1,702,343	1,646,210	$ 1,639,833	$ 1,772,341
Total liabilities and equity	$ 4,818,669		5,314,677		4,778,378
Foreign Currency Transactions
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Retirement obligations and other liabilities			1,500
Retained earnings			14,000
Accumulated other comprehensive loss			15,500
As Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Contract assets, net of allowance for expected credit losses					309,149
Total current assets					2,430,555
Property, plant and equipment, net of accumulated depreciation					541,768
Other assets, net of allowance for expected credit losses					218,604
Total assets					4,755,702
Accrued liabilities					401,041
Contract liabilities					214,135
Debt due within one year					9,058
Total current liabilities					1,088,738
Total debt due after one year					1,367,478
Retirement obligations and other liabilities			516,087	541,721	470,400
Retained earnings			3,656,449	3,625,291	3,643,868
Accumulated other comprehensive loss			594,052	618,856	643,173
Total Flowserve Corporation shareholders’ equity			1,732,470	1,673,421	1,662,572
Total equity			1,762,800	1,703,843	1,690,351
Total liabilities and equity					4,755,702
Adjustments | Foreign Currency Transactions
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Retirement obligations and other liabilities			1,479	1,500
Retained earnings			14,094	14,936
Accumulated other comprehensive loss			15,573	(16,436)
Total Flowserve Corporation shareholders’ equity			(1,479)	(1,500)
Total equity			$ (1,479)	$ (1,500)
Adjustments | Operating Lease, Right-Of-Use Asset And Liability
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Property, plant and equipment, net of accumulated depreciation					5,703
Total debt due after one year					5,646
Adjustments | Asbestos Receivables And Expected Insurance Proceeds
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Other assets, net of allowance for expected credit losses					16,926
Adjustments | Restructuring Reserves
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Accrued liabilities					(4,029)
Adjustments | Estimated Costs Under The Over Time Revenue Recognition Model
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Contract liabilities					5,498
Adjustments | IBNR Reserves
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Retirement obligations and other liabilities					59,546
Adjustments | Immaterial Errors
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Retained earnings					(33,398)
Adjustments | Accounting Errors
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Contract assets, net of allowance for expected credit losses					47
Total current assets					47
Total assets					22,676
Debt due within one year					156
Total current liabilities					1,625
Accumulated other comprehensive loss					(10,743)
Total Flowserve Corporation shareholders’ equity					(44,141)
Total equity					(44,141)
Total liabilities and equity					$ 22,676

Revision to Previously Report_5

Revision to Previously Reported Financial Information - Income Statement (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended		9 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Sep. 30, 2020	Dec. 31, 2020
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Sales	$ 898,178			$ 925,012	$ 1,755,486	$ 1,818,526
Cost of sales	(619,940)			(655,305)	(1,226,348)	(1,282,360)
Gross profit	278,238			269,707	529,138	536,166
Selling, general and administrative expense	(210,789)			(229,343)	(409,104)	(474,794)
Operating income	72,162			43,452	128,265	67,655
Interest Expense	(14,322)			(12,935)	(31,101)	(25,898)
Other income (expense), net	(7,850)	$ (18,742)	$ 4,673	(18,907)	(19,213)	19,295	$ 23,969	$ 5,226
Earnings before income taxes	50,455	60,383	77,958	12,759	71,408	63,950	141,909	202,292
Provision for income taxes	(2,711)	(767)	(19,196)	(4,485)	(6,503)	(41,453)	(60,650)	(61,417)
Net earnings, including noncontrolling interests	47,744	59,616	58,762	8,274	64,905	22,497	81,259	140,875
Net earnings of Flowserve Corporation	$ 45,354	$ 56,051	$ 56,115	$ 6,132	$ 59,434	$ 18,254	$ 74,369	$ 130,420
Basic (in dollars per share)	$ 0.35	$ 0.43	$ 0.43	$ 0.05	$ 0.46	$ 0.14	$ 0.57	$ 1
Diluted (in dollars per share)	$ 0.35	$ 0.43	$ 0.43	$ 0.05	$ 0.45	$ 0.14	$ 0.57	$ 1
As Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Sales				$ 924,965		$ 1,819,422
Cost of sales				(657,805)		(1,286,285)
Gross profit				267,160		533,137
Selling, general and administrative expense				(227,358)		(470,980)
Operating income				42,888		68,440
Interest Expense						(25,863)
Other income (expense), net		$ (17,811)	$ (963)	(14,941)		8,521	$ 7,558	$ (10,254)
Earnings before income taxes		61,314	72,322	16,196		53,996	125,498	186,812
Provision for income taxes		(856)	(18,672)	(5,409)		(41,719)	(59,175)	(60,031)
Net earnings, including noncontrolling interests		60,458	53,650	10,787		12,277	66,323	126,781
Net earnings of Flowserve Corporation		$ 56,893	$ 51,003	$ 8,645		$ 8,035	$ 59,433	$ 116,326
Basic (in dollars per share)		$ 0.44	$ 0.39	$ 0.07		$ 0.06	$ 0.46	$ 0.89
Diluted (in dollars per share)		$ 0.43	$ 0.39	$ 0.07		$ 0.06	$ 0.45	$ 0.89
Adjustments | Foreign Currency Transactions
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Other income (expense), net		$ (931)	$ 5,636	$ (3,966)		$ 10,774	$ 16,411	$ 15,480
Earnings before income taxes		(931)	5,636				16,411	15,480
Provision for income taxes		89	(524)				(1,475)	(1,386)
Net earnings, including noncontrolling interests		(842)	5,112				14,936	14,094
Net earnings of Flowserve Corporation		$ (842)	$ 5,112				$ 14,936	$ 14,094
Basic (in dollars per share)		$ (0.01)	$ 0.04				$ 0.11	$ 0.11
Diluted (in dollars per share)		$ 0	$ 0.04				$ 0.12	$ 0.11
Adjustments | Asbestos Settlement And Defense Costs
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Selling, general and administrative expense				(1,985)		(3,814)
Adjustments | Non-Restructuring Realignment Charges
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cost of sales				2,500		3,925
Adjustments | Accounting Errors
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Sales				47		(896)
Gross profit				2,547		3,029
Operating income				564		(785)
Interest Expense						(35)
Earnings before income taxes				(3,437)		9,954
Provision for income taxes				924		266
Net earnings, including noncontrolling interests				(2,513)		10,220
Net earnings of Flowserve Corporation				$ (2,513)		$ 10,219
Basic (in dollars per share)				$ (0.02)		$ 0.08
Diluted (in dollars per share)				$ (0.02)		$ 0.08

Revision to Previously Report_6

Revision to Previously Reported Financial Information - Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended		9 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Sep. 30, 2020	Dec. 31, 2020
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net earnings	$ 47,744	$ 59,616	$ 58,762	$ 8,274	$ 64,905	$ 22,497	$ 81,259	$ 140,875
Foreign currency translation adjustments, net of taxes	13,998	42,273	19,555	19,048	3,109	(77,013)	(57,456)	(15,183)
Other comprehensive income (loss), net of tax	16,072	25,665	18,620	20,850	9,644	(68,848)	(50,226)	(24,562)
Comprehensive income (loss), including noncontrolling interests	63,816	85,281	77,382	29,124	74,549	(46,351)	31,033	116,313
Comprehensive income (loss) attributable to Flowserve Corporation	$ 61,413	81,718	74,739	27,045	$ 68,916	(51,369)	23,371	105,088
As Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net earnings		60,458	53,650	10,787		12,277	66,323	126,781
Foreign currency translation adjustments, net of taxes		41,411	25,204	15,084		(66,269)	(41,022)	388
Other comprehensive income (loss), net of tax		24,803	24,269	16,886		(58,104)	(33,792)	(8,991)
Comprehensive income (loss), including noncontrolling interests		85,261	77,919	27,673		(45,827)	32,531	117,790
Comprehensive income (loss) attributable to Flowserve Corporation		81,698	75,276	25,594		(50,845)	24,869	106,565
Adjustments | Foreign Currency Transactions
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net earnings		(842)	5,112				14,936	14,094
Foreign currency translation adjustments, net of taxes		862	(5,649)	3,964		(10,744)	(16,434)	(15,571)
Other comprehensive income (loss), net of tax		862	(5,649)				(16,434)	(15,571)
Comprehensive income (loss), including noncontrolling interests		20	(537)				(1,498)	(1,477)
Comprehensive income (loss) attributable to Flowserve Corporation		$ 20	$ (537)				$ (1,498)	$ (1,477)
Adjustments | Accounting Errors
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net earnings				(2,513)		10,220
Other comprehensive income (loss), net of tax				3,964		(10,744)
Comprehensive income (loss), including noncontrolling interests				1,451		(524)
Comprehensive income (loss) attributable to Flowserve Corporation				$ 1,451		$ (524)

Revision to Previously Report_7

Revision to Previously Reported Financial Information - Cash Flows (Details) - USD ($) $ in Thousands	6 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Sep. 30, 2020	Dec. 31, 2020	Dec. 31, 2019
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net cash flows provided (used) by operating activities	$ 61,306	$ 20,183	$ 114,249
Net cash flows provided (used) by investing activities	(23,840)	(18,262)	(32,665)
Net cash flows provided (used) by financing activities	(491,094)	(93,732)	178,857
Cash and cash equivalents	$ 630,397	561,705	921,178	$ 1,095,274	$ 670,980
As Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net cash flows provided (used) by operating activities		21,231	115,629
Net cash flows provided (used) by investing activities		(21,161)	(34,160)
Net cash flows provided (used) by financing activities		(91,881)	178,972
Cash and cash equivalents		561,705	921,178
Adjustments
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net cash flows provided (used) by operating activities		(1,048)	(1,380)
Net cash flows provided (used) by investing activities		2,899	1,495
Net cash flows provided (used) by financing activities		(1,851)	(115)
Cash and cash equivalents		$ 0	$ 0

Revenue Recognition (Narrative)

Revenue Recognition (Narrative) (Details) - segments	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Disaggregation of Revenue [Line Items]
Number of operating segments			2
Transferred over Time
Disaggregation of Revenue [Line Items]
Revenue from products and services	15.00%	22.00%	16.00%	22.00%
Transferred at Point in Time
Disaggregation of Revenue [Line Items]
Revenue from products and services	85.00%	78.00%	84.00%	78.00%

Revenue Recognition (Disaggrega

Revenue Recognition (Disaggregation of revenue) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Disaggregation of Revenue [Line Items]
Sales	$ 898,178	$ 925,012	$ 1,755,486	$ 1,818,526
Original Equipment
Disaggregation of Revenue [Line Items]
Sales	434,484	462,823	841,358	914,175
Aftermarket
Disaggregation of Revenue [Line Items]
Sales	463,694	462,189	914,128	904,351
FPD
Disaggregation of Revenue [Line Items]
Sales	617,434	673,554	1,219,600	1,308,680
FPD | Original Equipment
Disaggregation of Revenue [Line Items]
Sales	220,387	271,465	434,541	524,198
FPD | Aftermarket
Disaggregation of Revenue [Line Items]
Sales	397,047	402,089	785,059	784,482
FCD
Disaggregation of Revenue [Line Items]
Sales	280,744	251,458	535,886	509,846
FCD | Original Equipment
Disaggregation of Revenue [Line Items]
Sales	214,097	191,358	406,817	389,977
FCD | Aftermarket
Disaggregation of Revenue [Line Items]
Sales	66,647	60,100	129,069	119,869
North America
Disaggregation of Revenue [Line Items]
Sales	341,729	376,347	655,950	766,997
North America | FPD
Disaggregation of Revenue [Line Items]
Sales	243,611	269,610	467,582	537,135
North America | FCD
Disaggregation of Revenue [Line Items]
Sales	98,118	106,737	188,368	229,862
Latin America
Disaggregation of Revenue [Line Items]
Sales	61,098	53,814	109,950	101,511
Latin America | FPD
Disaggregation of Revenue [Line Items]
Sales	52,219	46,909	94,256	89,096
Latin America | FCD
Disaggregation of Revenue [Line Items]
Sales	8,879	6,905	15,694	12,415
Middle East And Africa
Disaggregation of Revenue [Line Items]
Sales	96,192	118,427	206,433	242,260
Middle East And Africa | FPD
Disaggregation of Revenue [Line Items]
Sales	69,662	96,740	152,207	193,908
Middle East And Africa | FCD
Disaggregation of Revenue [Line Items]
Sales	26,530	21,687	54,226	48,352
Asia Pacific
Disaggregation of Revenue [Line Items]
Sales	208,319	192,648	411,627	359,660
Asia Pacific | FPD
Disaggregation of Revenue [Line Items]
Sales	119,375	128,102	244,027	240,557
Asia Pacific | FCD
Disaggregation of Revenue [Line Items]
Sales	88,944	64,546	167,600	119,103
Europe
Disaggregation of Revenue [Line Items]
Sales	190,840	183,776	371,526	348,098
Europe | FPD
Disaggregation of Revenue [Line Items]
Sales	132,567	132,193	261,528	247,984
Europe | FCD
Disaggregation of Revenue [Line Items]
Sales	$ 58,273	$ 51,583	$ 109,998	$ 100,114

Revenue Recognition (Performanc

Revenue Recognition (Performance obligations) (Details) $ in Millions	Jun. 30, 2021USD ($)
Revenue from Contract with Customer [Abstract]
Revenue, remaining performance obligation, amount	$ 470
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-07-01
Revenue from Contract with Customer [Abstract]
Revenue, remaining performance obligation, amount	$ 294
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, period	6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01
Revenue from Contract with Customer [Abstract]
Revenue, remaining performance obligation, amount	$ 176
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	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Change In Contract With Customer, Asset And Liability [Roll Forward]
Contract Assets, Beginning balance	$ 277,734
Contract Liabilities, Current, Beginning balance	194,227
Revenue recognized that was included in contract liabilities at the beginning of the period	(17,026)	$ (4,412)
Amounts transferred from contract assets to receivables	12,232	(44,276)
Contract Assets, Ending balance	262,231	309,196
Contract Liabilities, Current, Ending balance	209,092	219,633
Short-term Contract with Customer
Change In Contract With Customer, Asset And Liability [Roll Forward]
Contract Assets, Beginning balance	277,734	272,914
Revenue recognized that was included in contract liabilities at the beginning of the period	0	0
Revenue recognized in the period in excess of billings	321,040	386,250
Billings arising during the period in excess of revenue recognized	0	0
Amounts transferred from contract assets to receivables	(326,634)	(335,505)
Other contract asset, net	(9,909)	(14,463)
Long-term Contract with Customer
Change In Contract With Customer, Asset And Liability [Roll Forward]
Contract Assets, Beginning balance	1,139	9,280
Revenue recognized that was included in contract liabilities at the beginning of the period	0	0
Revenue recognized in the period in excess of billings	54	511
Billings arising during the period in excess of revenue recognized	0	0
Amounts transferred from contract assets to receivables	(28)	(93)
Other contract asset, net	(86)	(6,689)
Contract Assets, Ending balance	1,079	3,009
Short-term Contract with Customer, Liability
Change In Contract With Customer, Asset And Liability [Roll Forward]
Contract Liabilities, Current, Beginning balance	194,227	221,095
Revenue recognized that was included in contract liabilities at the beginning of the period	(112,835)	(138,994)
Revenue recognized in the period in excess of billings	0	0
Billings arising during the period in excess of revenue recognized	126,591	141,156
Amounts transferred from contract assets to receivables	0	0
Other contract liability, net	1,109	(3,624)
Long-term Contract With Customer, Liability
Change In Contract With Customer, Asset And Liability [Roll Forward]
Contract Liabilities, Noncurrent, Beginning balance	822	1,652
Revenue recognized that was included in contract liabilities at the beginning of the period	0	(646)
Revenue recognized in the period in excess of billings	0	0
Billings arising during the period in excess of revenue recognized	0	0
Amounts transferred from contract assets to receivables	0	0
Other contract liability, net	(19)	(31)
Contract Liabilities, Noncurrent, Ending balance	$ 803	$ 975

Allowance for Expected Credit_3

Allowance for Expected Credit Losses (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Sep. 30, 2020	Dec. 31, 2019
Financing Receivable, Allowance for Credit Loss [Line Items]
Decrease to retained earnings	$ (3,677,117)	$ (3,610,470)	$ (3,670,543)	$ (3,640,227)
Contract assets, allowance for credit loss as a percentage of assets	1.00%
Trade receivables
Beginning balance	$ 74,782	72,084	$ 75,176		$ 53,412
Charges to cost and expenses, net of recoveries	865	11,800
Write-offs	(2,015)
Currency effects and other, net	756	(98)
Ending balance	74,782	72,084
Contract assets
Beginning balance	3,205	206
Charges to cost and expenses, net of recoveries	0	0
Write-offs	0
Currency effects and other, net	(167)	25
Ending balance	3,038	3,010
Long-term Receivables
Beginning balance	67,842	68,555
Currency effects and other, net	(72)	(617)
Ending balance	67,770	67,259
ASU No. 2016-13 - Measurement of Credit Losses on Financial Instruments (Topic 326)
Trade receivables
Beginning balance					$ 6,970
Contract assets
Beginning balance		2,779
Long-term Receivables
Beginning balance	$ 0	$ (679)

Stock-Based Compensation Plan_2

Stock-Based Compensation Plans (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Jan. 01, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock available under stock option plan (in shares)	11,273,436		11,273,436
Vesting period			3 years
Options, outstanding, number (in shares)	114,943		114,943
Options, grants in period, gross (in shares)			0	0
Plan 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized to issue under share based compensation plans (in shares)						12,500,000
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
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
Nonvested awards, compensation cost not yet recognized	$ 38.1		$ 38.1		$ 18.7
Nonvested awards, compensation cost not yet recognized, period for recognition			2 years
Equity instruments other than options, vested in period, fair value	0.9	$ 2.9	$ 24.4	$ 21
Allocated share-based compensation expense, net of tax	5.1	3.3	12.7	14.4
Allocated share-based compensation expense	$ 6.7	$ 4.2	$ 16.5	$ 18.5
Equity instruments other than options, nonvested, number (in shares)	1,701,401		1,701,401		1,373,657
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonvested awards, compensation cost not yet recognized, period for recognition			36 months
Equity instruments other than options, nonvested, number (in shares)	509,000		509,000
Total shareholder return performance measure, as a percentage	15.00%		15.00%
Estimated vesting of shares based on performance shares (in shares)	480,000		480,000
Minimum | Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options, vested and expected to vest, exercisable, number (in shares)	0		0
Minimum | Performance Shares | 2019 and 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage			0.00%
Maximum | Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options, vested and expected to vest, exercisable, number (in shares)	1,063,000		1,063,000
Maximum | Performance Shares | 2019 and 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage			200.00%
Maximum | Performance Shares | 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage			230.00%

Stock-Based Compensation Plan_3

Stock-Based Compensation Plans (Information Regarding Restricted Shares) (Details) - Restricted Stock	6 Months Ended
	Jun. 30, 2021$ / sharesshares
Shares
Outstanding, Shares, Beginning balance (in shares) | shares	1,373,657
Granted, Shares (in shares) | shares	995,204
Vested, Shares (in shares) | shares	(550,370)
Forfeited, Shares (in shares) | shares	(117,090)
Outstanding, Shares, Ending balance (in shares) | shares	1,701,401
Weighted Average Grant-Date Fair Value
Outstanding, Weighted Average Grant-Date Fair Value, Beginning balance (in dollars per share) | $ / shares	$ 46.76
Granted, Weighted Average Grant-Date Fair Value (in dollars per share) | $ / shares	39.59
Vested, Weighted Average Grant-Date Fair Value (in dollars per share) | $ / shares	44.27
Forfeited, Weighted Average Grant-Date Fair Value (in dollars per share) | $ / shares	48.01
Outstanding, Weighted Average Grant-Date Fair Value, Ending balance (in dollars per share) | $ / shares	$ 43.29

Derivative Instruments and He_3

Derivative Instruments and Hedges (Textual) (Details) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2021USD ($)	Jun. 30, 2021USD ($)	Jun. 30, 2021EUR (€)	Dec. 31, 2020USD ($)	Sep. 22, 2020EUR (€)	Jun. 30, 2016EUR (€)
2022 EUR Senior Notes
Derivative [Line Items]
Stated interest rate (as a percent)	1.25%	1.25%	1.25%	1.25%
2022 EUR Senior Notes
Derivative [Line Items]
Designated amount, net investment hedge | €					€ 336,300,000	€ 255,700,000
Currency Swap
Derivative [Line Items]
Derivative, notional amount | €			€ 423,200,000
Derivative, Interest Payable	$ 2.1	$ 2.7
Currency Swap | Fair Value, Inputs, Level 2
Derivative [Line Items]
Derivative Liability	(5.3)	(5.3)		$ (18.1)
Not Designated as Hedging Instrument | Forward Exchange Contract
Derivative [Line Items]
Derivative, notional amount	$ 385.7	$ 385.7		$ 388.1
Minimum remaining maturity of foreign currency derivatives		26 days
Maximum remaining maturity of foreign currency derivatives		27 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	Jun. 30, 2021	Dec. 31, 2020
Derivative [Line Items]
Current derivative assets	$ 1,389	$ 2,857
Noncurrent derivative assets	20	249
Current derivative liabilities	914	682
Noncurrent derivative liabilities	$ 62	$ 0

Derivative Instruments and He_5

Derivative Instruments and Hedges (Fair Value of Forward Exchange Contracts) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Forward Contracts
Derivative [Line Items]
(Losses) gains recognized in income	$ (4,312)	$ (3,520)	$ 1,793	$ (61)

Derivative Instruments and He_6

Derivative Instruments and Hedges (Cross Currency Swap) (Details) - Currency Swap - Net Investment Hedging - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Derivative [Line Items]
Loss (gain) - included component	$ 1,798	$ 0	$ 185	$ 0
(Gain) loss - excluded component	(11,749)	0	3,890	0
(Gain) loss recognized in AOCL	$ (9,951)	$ 0	$ 4,075	$ 0

Derivative Instruments and He_7

Derivative Instruments and Hedges (Remeasurement) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Net Investment Hedging
Derivative [Line Items]
Loss recognized in AOCL	$ 0	$ 3,990	$ 29,554	$ 12,510

Debt (Schedule of Debt) (Detail

Debt (Schedule of Debt) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020
Debt Instrument [Line Items]
Finance lease obligations and other borrowings	$ 24,633	$ 25,390
Debt and finance lease obligations	1,316,748	1,726,906
Less amounts due within one year	9,599	8,995
Total debt due after one year	$ 1,307,149	$ 1,717,911	$ 1,373,124
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		$ 1,070
Long-term debt	$ 0	$ 410,243
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	$ 882	$ 1,235
Long-term debt	$ 499,118	$ 498,765
2023 Senior notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)	4.00%	4.00%
Debt instrument, unamortized discount (premium) and debt issuance costs, net	$ 1,122	$ 1,345
Long-term debt	$ 298,878	298,655
2030 USD Senior notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)	3.50%
Debt instrument, unamortized discount (premium) and debt issuance costs, net	$ 5,881	6,147
Long-term debt	$ 494,119	$ 493,853

Debt (Details Textual)

Debt (Details Textual)	Mar. 19, 2021USD ($)	Jul. 16, 2019	Dec. 31, 2020USD ($)$ / shares	Jun. 30, 2021USD ($)$ / shares	Jun. 30, 2020USD ($)	Jun. 30, 2020	Jun. 30, 2022	Dec. 31, 2021	Sep. 04, 2020USD ($)$ / shares
Line of Credit Facility [Line Items]
Loss on extinguishment of debt				$ 7,610,000	$ 0
Common shares, par value (in dollars per share) | $ / shares			$ 1.25	$ 1.25
2022 EUR Senior Notes
Line of Credit Facility [Line Items]
Repayment of debt	$ 400,900,000		$ 191,400,000
Loss on extinguishment of debt	7,600,000		1,200,000
Make-whole premium	$ 6,600,000
Senior Credit Facility
Line of Credit Facility [Line Items]
Letters of credit outstanding			58,100,000	$ 61,100,000
Line of credit facility, current borrowing capacity			741,900,000	738,900,000
Revolving Credit Facility
Line of Credit Facility [Line Items]
Revolving credit facility			$ 0	$ 0
Revolving Credit Facility | New Credit Agreement
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity									$ 800,000,000
Cash and cash equivalents excluded from leverage ratio									$ 250,000,000
Common shares, par value (in dollars per share) | $ / shares									$ 1.25
Revolving Credit Facility | New Senior Credit Facility
Line of Credit Facility [Line Items]
Maximum increase in borrowing capacity									$ 400,000,000
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 Credit Agreement
Line of Credit Facility [Line Items]
Percentage of dividends and share purchases						115.00%
Maximum | Revolving Credit Facility | New Credit Agreement | Forecast
Line of Credit Facility [Line Items]
Leverage ratio							4	4
Leverage ratio with acquisitions							4.50
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	Jun. 30, 2021USD ($)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	$ 1,292.1
Estimate of Fair Value Measurement
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	$ 1,356.4

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Net Components of Inventory
Raw materials	$ 327,799	$ 321,600
Work in process	253,097	210,174
Finished goods	201,802	221,532
Less: Excess and obsolete reserve	(92,553)	(86,078)
Inventories, net	$ 690,145	$ 667,228

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended				6 Months Ended		9 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Sep. 30, 2020	Dec. 31, 2020
Earnings Per Share [Abstract]
Net earnings of Flowserve Corporation	$ 45,354	$ 56,051	$ 56,115	$ 6,132	$ 59,434	$ 18,254	$ 74,369	$ 130,420
Dividends on restricted shares not expected to vest	0			0	0	0
Earnings attributable to common and participating shareholders	$ 45,354			$ 6,132	$ 59,434	$ 18,254
Weighted average shares:
Common stock (in shares)	130,279			130,148	130,342	130,439
Participating securities (in shares)	26			22	24	24
Denominator for basic earnings per common share (in shares)	130,305			130,170	130,366	130,463
Effect of potentially dilutive securities (in shares)	499			560	539	689
Denominator for diluted earnings per common share (in shares)	130,804			130,730	130,905	131,152
Earnings per common share:
Basic (in dollars per share)	$ 0.35	$ 0.43	$ 0.43	$ 0.05	$ 0.46	$ 0.14	$ 0.57	$ 1
Diluted (in dollars per share)	$ 0.35	$ 0.43	$ 0.43	$ 0.05	$ 0.45	$ 0.14	$ 0.57	$ 1

Legal Matters and Contingenci_3

Legal Matters and Contingencies (Details) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2021USD ($)claim	Jun. 30, 2020USD ($)claim	Jun. 30, 2021USD ($)claim	Jun. 30, 2020USD ($)claim	Dec. 31, 2020claim
Liability for Asbestos and Environmental Claims, Net [Roll Forward]
Beginning claims	8,445	8,282	8,366	8,345	8,345
Beginning claims			8,366	8,345	8,345
New claims	603	456	1,232	1,037	2,140
Resolved claims	(479)	(667)	(1,023)	(1,308)	(2,203)
Other	(10)	29	(16)	26	84
Ending claims	8,559	8,100	8,559	8,100	8,366
Ending claims	8,559	8,100	8,559	8,100	8,366
Loss contingency expense | $	$ 1.8	$ 5.9	$ 4.5	$ 10.2
Payments For (Proceeds From) Insurance Settlements | $			$ (3.3)	$ (6.7)

Retirement and Postretirement_3

Retirement and Postretirement Benefits (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Components of the net periodic cost for retirement and postretirement benefits
Transformation Charges		$ 5,618		$ 11,261
Selling, General and Administrative Expenses
Components of the net periodic cost for retirement and postretirement benefits
Transformation Charges		5,618		11,261
Eliminations and All Other
Components of the net periodic cost for retirement and postretirement benefits
Transformation Charges		5,618		11,261
Eliminations and All Other | Selling, General and Administrative Expenses
Components of the net periodic cost for retirement and postretirement benefits
Transformation Charges		5,618		11,261
Domestic Plan
Components of the net periodic cost for retirement and postretirement benefits
Service cost	$ 5,800	6,600	$ 12,600	12,900
Interest cost	2,900	3,700	6,000	7,500
Expected return on plan assets	(6,200)	(6,100)	(12,700)	(12,800)
Amortization of prior service cost	100	100	100	100
Amortization of unrecognized net loss (gain)	2,000	1,800	3,900	3,500
Net periodic cost recognized	4,600	6,100	9,900	11,200
Foreign Plan
Components of the net periodic cost for retirement and postretirement benefits
Service cost	1,900	1,700	3,700	3,400
Interest cost	1,400	1,600	2,800	3,200
Expected return on plan assets	(1,700)	(1,200)	(3,200)	(2,400)
Amortization of prior service cost	100	0	200	100
Amortization of unrecognized net loss (gain)	1,200	1,100	2,300	2,100
Net periodic cost recognized	2,900	3,200	5,800	6,400
Postretirement Medical Benefits
Components of the net periodic cost for retirement and postretirement benefits
Service cost	0	0	0	0
Interest cost	100	200	200	300
Expected return on plan assets	0	0	0	0
Amortization of prior service cost	100	0	100	100
Amortization of unrecognized net loss (gain)	0	0	0	(100)
Net periodic cost recognized	$ 200	$ 200	$ 300	$ 300

Shareholders' Equity (Details)

Shareholders' Equity (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Nov. 13, 2014
Equity, Class of Treasury Stock [Line Items]
Cash dividends declared per share (in dollars per share)	$ 0.20	$ 0.20	$ 0.40	$ 0.40
Repurchase of shares (in shares)	311,000		440,000	1,057,115
Treasury Stock, Value, Acquired, Cost Method	$ 12,500,000		$ 17,500,000	$ 32,100,000
Remaining authorized repurchase capacity	$ 101,200,000		$ 101,200,000
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				6 Months Ended		9 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Sep. 30, 2020	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income before income tax	$ 50,455	$ 60,383	$ 77,958	$ 12,759	$ 71,408	$ 63,950	$ 141,909	$ 202,292
Income tax expense	$ 2,711	$ 767	$ 19,196	$ 4,485	$ 6,503	$ 41,453	$ 60,650	$ 61,417
Effective tax rate (as a percent)	5.40%			35.20%	9.10%	64.80%
Unrecognized tax benefits, period decrease					$ 3,600
Unrecognized tax benefits approximate amount of estimated reduction within the next twelve months	$ 13,000				$ 13,000

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Summarized financial information of the reportable segments
Sales	$ 898,178	$ 925,012	$ 1,755,486	$ 1,818,526
Segment operating income	72,162	43,452	128,265	67,655
Operating Segments
Summarized financial information of the reportable segments
Sales	898,178	925,012	1,755,486	1,818,526
Intersegment sales	673	1,338	1,829	2,862
Segment operating income	105,074	86,582	183,569	143,488
Intersegment sales
Summarized financial information of the reportable segments
Intersegment sales	(673)	(1,338)	(1,829)	(2,862)
Segment operating income	(32,912)	(43,130)	(55,304)	(75,833)
FPD
Summarized financial information of the reportable segments
Sales	617,434	673,554	1,219,600	1,308,680
Intersegment sales	257	510	733	1,037
FPD | Operating Segments
Summarized financial information of the reportable segments
Sales	617,434	673,554	1,219,600	1,308,680
Segment operating income	67,845	60,355	121,627	100,080
FCD
Summarized financial information of the reportable segments
Sales	280,744	251,458	535,886	509,846
Intersegment sales	416	828	1,096	1,825
FCD | Operating Segments
Summarized financial information of the reportable segments
Sales	280,744	251,458	535,886	509,846
Segment operating income	$ 37,229	$ 26,227	$ 61,942	$ 43,408

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Components of AOCI) (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended		9 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Sep. 30, 2020	Dec. 31, 2020	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2019
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	$ (610,076)		$ (648,044)	$ (668,894)	$ (603,648)	$ (579,196)	$ (579,196)	$ (579,196)
Other comprehensive income (loss) before reclassifications	13,300			18,299	4,130	(73,799)
Amounts reclassified from AOCL	2,772			2,551	5,514	4,951
Other comprehensive income (loss)	16,072	$ 25,665	18,620	20,850	9,644	(68,848)	(50,226)	(24,562)
Ending balance	(594,004)	(603,648)		(648,044)	(594,004)	(648,044)		(603,648)
Foreign currency translation items
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(467,326)		(518,377)	(537,425)	(456,437)	(441,364)	(441,364)	(441,364)
Other comprehensive income (loss) before reclassifications	13,998			19,048	3,109	(77,013)
Amounts reclassified from AOCL	0			0	0	0
Other comprehensive income (loss)	13,998			19,048	3,109	(77,013)
Ending balance	(453,328)	(456,437)		(518,377)	(453,328)	(518,377)		(456,437)
Pension and other post-retirement effects
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(142,464)		(129,094)	(130,852)	(146,723)	(137,161)	(137,161)	(137,161)
Other comprehensive income (loss) before reclassifications	(713)			(793)	804	3,116
Amounts reclassified from AOCL	2,772			2,551	5,514	4,951
Other comprehensive income (loss)	2,059			1,758	6,318	8,067
Ending balance	(140,405)	(146,723)		(129,094)	(140,405)	(129,094)		(146,723)
Cash flow hedging activity
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(286)		$ (573)	(617)	(488)	(671)	$ (671)	(671)
Other comprehensive income (loss) before reclassifications	15			44	217	98
Amounts reclassified from AOCL	0			0	0	0
Other comprehensive income (loss)	15			44	217	98
Ending balance	(271)	(488)		(573)	(271)	(573)		(488)
Non- controlling Interests
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Other comprehensive income (loss)	14			(63)	162	776
Accumulated other comprehensive income (loss), foreign currency translation adjustment, net of tax	$ (6,100)	$ 5,900		$ 5,900	$ (6,100)	$ 5,900		$ 5,900	$ 6,100	$ 5,900	$ 5,100

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income (Loss) (Reclassifications out of AOCI) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net of tax	$ (2,772)	$ (2,551)	$ (5,514)	$ (4,951)
Amortization of actuarial losses
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Reclassification	(3,089)	(2,857)	(6,148)	(5,514)
Prior service costs
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Reclassification	(155)	(138)	(308)	(279)
Pension and other post-retirement effects
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Tax benefit	472	444	942	842
Net of tax	$ (2,772)	$ (2,551)	$ (5,514)	$ (4,951)

Realignment Programs (Details)

Realignment Programs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		15 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	$ 2,854	$ 11,612	$ 7,171	$ 13,286
Non-Restructuring Charges	2,762	43,969	12,146	51,600
Total Realignment Charges	5,616	61,199	19,317	76,147
Total Realignment Program Charges		55,581		64,886
Transformation Charges		5,618		11,261
Restructuring Reserve [Roll Forward]
Beginning Balance			18,255	6,703
Charges, net of adjustments	2,854	11,612	7,171	13,286
Cash expenditures			(14,388)	(2,713)
Other non-cash adjustments, including currency			(461)	(118)
Ending Balance	9,236	16,142	9,236	16,142	$ 9,236
Subtotal–Reportable Segments
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	2,854	11,612	7,171	13,286
Non-Restructuring Charges	1,847	28,569	7,361	35,555
Total Realignment Charges	4,701	40,181	14,532	48,841
Total Realignment Program Charges		40,181		48,841
Transformation Charges		0		0
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	2,854	11,612	7,171	13,286
Eliminations and All Other
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	0	0	0	0
Non-Restructuring Charges	915	15,400	4,785	16,045
Total Realignment Charges	915	21,018	4,785	27,306
Total Realignment Program Charges		15,400		16,045
Transformation Charges		5,618		11,261
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	0	0	0	0
Severance
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	14	10,698	1,387	12,520
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	14	10,698	1,387	12,520
Contract Termination
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	0	0	0	0
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	0	0	0	0
Asset Write-Downs
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	(849)	997	1,341	991
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	(849)	997	1,341	991
Other
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	3,689	(83)	4,443	(225)
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	3,689	(83)	4,443	(225)
Charges Expected to be Settled in Cash
Restructuring Cost and Reserve [Line Items]
Restructuring Charges			5,830	12,270
Restructuring Reserve [Roll Forward]
Charges, net of adjustments			5,830	12,270
Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	2,187	11,483	6,513	13,059
Non-Restructuring Charges	1,638	15,468	6,717	21,918
Total Realignment Charges	3,825	26,951	13,230	34,977
Total Realignment Program Charges		26,951		34,977
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	2,187	11,483	6,513	13,059
Cost of Sales | Subtotal–Reportable Segments
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	2,187	11,483	6,513	13,059
Non-Restructuring Charges	1,638	14,920	6,127	21,370
Total Realignment Charges	3,825	26,403	12,640	34,429
Total Realignment Program Charges		26,403		34,429
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	2,187	11,483	6,513	13,059
Cost of Sales | Eliminations and All Other
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	0	0	0	0
Non-Restructuring Charges	0	548	590	548
Total Realignment Charges	0	548	590	548
Total Realignment Program Charges		548		548
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	0	0	0	0
Cost of Sales | Severance
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	(154)	10,572	1,219	12,255
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	(154)	10,572	1,219	12,255
Cost of Sales | Contract Termination
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	0	0	0	0
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	0	0	0	0
Cost of Sales | Asset Write-Downs
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	(849)	994	1,341	991
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	(849)	994	1,341	991
Cost of Sales | Other
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	3,190	(83)	3,953	(187)
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	3,190	(83)	3,953	(187)
Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	667	129	658	227
Non-Restructuring Charges	1,124	28,501	5,429	29,682
Total Realignment Charges	1,791	34,248	6,087	41,170
Total Realignment Program Charges		28,630		29,909
Transformation Charges		5,618		11,261
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	667	129	658	227
Selling, General and Administrative Expenses | Subtotal–Reportable Segments
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	667	129	658	227
Non-Restructuring Charges	209	13,649	1,234	14,185
Total Realignment Charges	876	13,778	1,892	14,412
Total Realignment Program Charges		13,778		14,412
Transformation Charges		0		0
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	667	129	658	227
Selling, General and Administrative Expenses | Eliminations and All Other
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	0	0	0	0
Non-Restructuring Charges	915	14,852	4,195	15,497
Total Realignment Charges	915	20,470	4,195	26,758
Total Realignment Program Charges		14,852		15,497
Transformation Charges		5,618		11,261
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	0	0	0	0
Selling, General and Administrative Expenses | Severance
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	168	126	168	265
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	168	126	168	265
Selling, General and Administrative Expenses | Contract Termination
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	0	0		0
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	0	0		0
Selling, General and Administrative Expenses | Asset Write-Downs
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	0	3	0	0
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	0	3	0	0
Selling, General and Administrative Expenses | Other
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	499	0	490	(38)
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	499	0	490	(38)
FPD
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	2,683	11,776	6,710	13,561
Non-Restructuring Charges	1,896	21,319	5,944	21,929
Total Realignment Charges	4,579	33,095	12,654	35,490
Total Realignment Program Charges		33,095		35,490
Transformation Charges		0		0
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	2,683	11,776	6,710	13,561
FPD | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	2,016	11,650	6,043	13,331
Non-Restructuring Charges	1,558	12,003	5,449	12,128
Total Realignment Charges	3,574	23,653	11,492	25,459
Total Realignment Program Charges		23,653		25,459
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	2,016	11,650	6,043	13,331
FPD | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	667	126	667	230
Non-Restructuring Charges	338	9,316	495	9,801
Total Realignment Charges	1,005	9,442	1,162	10,031
Total Realignment Program Charges		9,442		10,031
Transformation Charges		0		0
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	667	126	667	230
FCD
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	171	(164)	461	(275)
Non-Restructuring Charges	(49)	7,250	1,417	13,626
Total Realignment Charges	122	7,086	1,878	13,351
Total Realignment Program Charges		7,086		13,351
Transformation Charges		0		0
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	171	(164)	461	(275)
FCD | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	171	(167)	470	(272)
Non-Restructuring Charges	80	2,917	678	9,242
Total Realignment Charges	251	2,750	1,148	8,970
Total Realignment Program Charges		2,750		8,970
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	171	(167)	470	(272)
FCD | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	0	3	(9)	(3)
Non-Restructuring Charges	(129)	4,333	739	4,384
Total Realignment Charges	(129)	4,336	730	4,381
Total Realignment Program Charges		4,336		4,381
Transformation Charges		0		0
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	0	$ 3	(9)	$ (3)
Flowserve 2.0 Transformation
Restructuring Cost and Reserve [Line Items]
Expected cost	$ 95,000		$ 95,000		95,000
Restructuring Charges					26,603
Non-Restructuring Charges					64,046
Total Realignment Charges					90,649
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					26,603
Flowserve 2.0 Transformation | Subtotal–Reportable Segments
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					26,603
Non-Restructuring Charges					41,327
Total Realignment Charges					67,930
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					26,603
Flowserve 2.0 Transformation | Eliminations and All Other
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					0
Non-Restructuring Charges					22,719
Total Realignment Charges					22,719
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					0
Flowserve 2.0 Transformation | Severance
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					16,715
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					16,715
Flowserve 2.0 Transformation | Contract Termination
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					52
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					52
Flowserve 2.0 Transformation | Asset Write-Downs
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					2,767
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					2,767
Flowserve 2.0 Transformation | Other
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					7,069
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					7,069
Flowserve 2.0 Transformation | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					25,569
Non-Restructuring Charges					25,500
Total Realignment Charges					51,069
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					25,569
Flowserve 2.0 Transformation | Cost of Sales | Subtotal–Reportable Segments
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					25,569
Non-Restructuring Charges					24,858
Total Realignment Charges					50,427
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					25,569
Flowserve 2.0 Transformation | Cost of Sales | Eliminations and All Other
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					0
Non-Restructuring Charges					642
Total Realignment Charges					642
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					0
Flowserve 2.0 Transformation | Cost of Sales | Severance
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					16,463
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					16,463
Flowserve 2.0 Transformation | Cost of Sales | Contract Termination
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					52
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					52
Flowserve 2.0 Transformation | Cost of Sales | Asset Write-Downs
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					2,753
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					2,753
Flowserve 2.0 Transformation | Cost of Sales | Other
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					6,301
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					6,301
Flowserve 2.0 Transformation | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					1,034
Non-Restructuring Charges					38,546
Total Realignment Charges					39,580
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					1,034
Flowserve 2.0 Transformation | Selling, General and Administrative Expenses | Subtotal–Reportable Segments
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					1,034
Non-Restructuring Charges					16,469
Total Realignment Charges					17,503
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					1,034
Flowserve 2.0 Transformation | Selling, General and Administrative Expenses | Eliminations and All Other
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					0
Non-Restructuring Charges					22,077
Total Realignment Charges					22,077
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					0
Flowserve 2.0 Transformation | Selling, General and Administrative Expenses | Severance
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					252
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					252
Flowserve 2.0 Transformation | Selling, General and Administrative Expenses | Contract Termination
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					0
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					0
Flowserve 2.0 Transformation | Selling, General and Administrative Expenses | Asset Write-Downs
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					14
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					14
Flowserve 2.0 Transformation | Selling, General and Administrative Expenses | Other
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					768
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					768
Flowserve 2.0 Transformation | FPD
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					24,590
Non-Restructuring Charges					35,829
Total Realignment Charges					60,419
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					24,590
Flowserve 2.0 Transformation | FPD | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					23,872
Non-Restructuring Charges					24,653
Total Realignment Charges					48,525
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					23,872
Flowserve 2.0 Transformation | FPD | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					718
Non-Restructuring Charges					11,176
Total Realignment Charges					11,894
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					718
Flowserve 2.0 Transformation | FCD
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					2,013
Non-Restructuring Charges					5,498
Total Realignment Charges					7,511
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					2,013
Flowserve 2.0 Transformation | FCD | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					1,697
Non-Restructuring Charges					205
Total Realignment Charges					1,902
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					1,697
Flowserve 2.0 Transformation | FCD | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					316
Non-Restructuring Charges					5,293
Total Realignment Charges					5,609
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					$ 316

Uncategorized Items - fls-20210

Label	Element	Value
Accounting Standards Update [Extensible List]	us-gaap_AccountingStandardsUpdateExtensibleList	us-gaap:AccountingStandardsUpdate201613Member