Flowserve (FLS) 10-Q 27 Oct 21 2021 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2021	Oct. 25, 2021
Cover [Abstract]
Entity Central Index Key	0000030625
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 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		130,267,675

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Statement [Abstract]
Sales	$ 866,118	$ 924,301	$ 2,621,604	$ 2,742,826
Cost of sales	(612,626)	(639,092)	(1,838,974)	(1,921,451)
Gross profit	253,492	285,209	782,630	821,375
Selling, general and administrative expense	(200,862)	(200,729)	(609,965)	(675,523)
Gain on sale of business			1,806	0
Net earnings from affiliates	4,732	2,842	11,157	9,125
Operating income	57,362	87,322	185,628	154,977
Interest expense	(14,746)	(13,509)	(45,847)	(39,407)
Loss on extinguishment of debt	(563)	(1,201)	(8,173)	(1,201)
Interest income	827	673	1,893	3,571
Other income (expense), net	(1,504)	4,673	(20,717)	23,969
Earnings before income taxes	41,376	77,958	112,784	141,909
(Provision for) benefit from income taxes	10,433	(19,196)	3,929	(60,650)
Net earnings, including noncontrolling interests	51,809	58,762	116,713	81,259
Less: Net earnings attributable to noncontrolling interests	(2,024)	(2,647)	(7,495)	(6,890)
Net earnings attributable to Flowserve Corporation	$ 49,785	$ 56,115	$ 109,218	$ 74,369
Net earnings per share attributable to Flowserve Corporation common shareholders:
Basic (in dollars per share)	$ 0.38	$ 0.43	$ 0.84	$ 0.57
Diluted (in dollars per share)	$ 0.38	$ 0.43	$ 0.83	$ 0.57

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement of Comprehensive Income [Abstract]
Net earnings, including noncontrolling interests	$ 51,809	$ 58,762	$ 116,713	$ 81,259
Other comprehensive income (loss):
Foreign currency translation adjustments, net of taxes	(15,561)	19,555	(12,452)	(57,456)
Pension and other postretirement effects, net of taxes	4,955	(976)	11,273	7,091
Cash flow hedging activity	(1,347)	41	(1,130)	139
Other comprehensive income (loss)	(11,953)	18,620	(2,309)	(50,226)
Comprehensive income (loss), including noncontrolling interests	39,856	77,382	114,404	31,033
Comprehensive (income) loss attributable to noncontrolling interests	(2,021)	(2,643)	(7,654)	(7,662)
Comprehensive income (loss) attributable to Flowserve Corporation	$ 37,835	$ 74,739	$ 106,750	$ 23,371

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement of Comprehensive Income [Abstract]
Foreign currency translation, taxes	$ 1,274	$ 140	$ 7,021	$ 6,114
Pension and other postretirement effects, taxes	$ (471)	$ (421)	$ (1,414)	$ (1,263)

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 1,457,269	$ 1,095,274
Accounts receivable, net of allowance for expected credit losses of $75,966 and $75,176, respectively	710,782	753,462
Contract assets, net of allowance for expected credit losses of $2,778 and $3,205, respectively	235,917	277,734
Inventories, net	698,046	667,228
Prepaid expenses and other	121,209	110,635
Total current assets	3,223,223	2,904,333
Property, plant and equipment, net of accumulated depreciation of $1,117,487 and $1,093,348, respectively	513,168	556,873
Operating lease right-of-use assets, net	194,306	208,125
Goodwill	1,202,598	1,224,886
Deferred taxes	57,849	30,538
Other intangible assets, net	155,994	168,496
Other assets, net of allowance for expected credit losses of $67,697 and $67,842, respectively	248,778	221,426
Total assets	5,595,916	5,314,677
Current liabilities:
Accounts payable	370,977	440,199
Accrued liabilities	468,153	463,222
Contract liabilities	199,103	194,227
Debt due within one year	836,618	8,995
Operating lease liabilities	34,034	34,990
Total current liabilities	1,908,885	1,141,633
Long-term debt due after one year	1,272,246	1,717,911
Operating lease liabilities	165,588	176,246
Retirement obligations and other liabilities	457,964	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	501,122	502,227
Retained earnings	3,700,507	3,670,543
Treasury shares, at cost – 46,804 and 46,768 shares, respectively	(2,058,168)	(2,059,309)
Deferred compensation obligation	7,145	6,164
Accumulated other comprehensive loss	(612,093)	(609,625)
Total Flowserve Corporation shareholders’ equity	1,759,504	1,730,991
Noncontrolling interests	31,729	30,330
Total equity	1,791,233	1,761,321
Total liabilities and equity	$ 5,595,916	$ 5,314,677

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Current assets:
Allowance for doubtful accounts	$ 75,966	$ 75,176
Contract asset, allowance for doubtful accounts	2,778	3,205
Accumulated depreciation on property, plant and equipment	1,117,487	1,093,348
Other assets, allowance for credit loss	$ 67,697	$ 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)	46,804	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	$ 1,772,340	$ (7,291)	$ 220,991	$ 501,045	$ 3,652,245	$ (7,291)	$ (2,051,583)	$ 8,334	$ (584,294)	$ 25,602
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock activity under stock plans (in shares)							544
Stock activity under stock plans	(3,793)			(25,588)			$ 24,029	(2,234)
Stock-based compensation	24,104			24,104
Net earnings	81,259				74,369					6,890
Cash dividends declared	(79,095)				(79,095)
Repurchases of common shares (in shares)							(1,057)
Repurchases of common shares	(32,112)						$ (32,112)
Other comprehensive income (loss), net of tax	(50,226)								(50,998)	772
Other, net	(2,842)									(2,842)
Balance — (in shares) at Sep. 30, 2020			176,793				46,775
Balance — at Sep. 30, 2020	1,702,344		$ 220,991	499,561	3,640,228		$ (2,059,666)	6,100	(635,292)	30,422
Balance — (in shares) at Dec. 31, 2019			176,793				46,262
Balance — at Dec. 31, 2019	1,772,340	$ (7,291)	$ 220,991	501,045	3,652,245	$ (7,291)	$ (2,051,583)	8,334	(584,294)	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 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]
Stock activity under stock plans (in shares)							98
Stock activity under stock plans	(520)			(5,220)			$ 4,636	64
Stock-based compensation	5,629			5,629
Net earnings	58,762				56,115					2,647
Cash dividends declared	(26,357)				(26,357)
Other comprehensive income (loss), net of tax	18,620								18,624	(4)
Balance — (in shares) at Sep. 30, 2020			176,793				46,775
Balance — at Sep. 30, 2020	1,702,344		$ 220,991	499,561	3,640,228		$ (2,059,666)	6,100	(635,292)	30,422
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)							404
Stock activity under stock plans	(5,062)			(24,715)			$ 18,672	981
Stock-based compensation	23,610			23,610
Net earnings	116,713				109,218					7,495
Cash dividends declared	(79,254)				(79,254)
Repurchases of common shares (in shares)							(440)
Repurchases of common shares	(17,531)						$ (17,531)
Other comprehensive income (loss), net of tax	(2,309)								(2,468)	159
Other, net	$ 0									0
Balance — (in shares) at Sep. 30, 2021	176,793		176,793				46,804
Balance — at Sep. 30, 2021	$ 1,791,233		$ 220,991	501,122	3,700,507		$ (2,058,168)	7,145	(612,093)	31,729
Balance — (in shares) at Jun. 30, 2021			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
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock activity under stock plans (in shares)							2
Stock activity under stock plans	(58)			(237)			$ 111	68
Stock-based compensation	7,138			7,138
Net earnings	51,809				49,785					2,024
Cash dividends declared	(26,395)				(26,395)
Other comprehensive income (loss), net of tax	(11,953)								(11,950)	(3)
Other, net	$ 0								0	0
Balance — (in shares) at Sep. 30, 2021	176,793		176,793				46,804
Balance — at Sep. 30, 2021	$ 1,791,233		$ 220,991	$ 501,122	$ 3,700,507		$ (2,058,168)	$ 7,145	$ (612,093)	$ 31,729

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash flows – Operating activities:
Net earnings, including noncontrolling interests	$ 116,713	$ 81,259
Adjustments to reconcile net earnings to net cash provided (used) by operating activities:
Depreciation	66,316	63,887
Amortization of intangible and other assets	10,643	8,788
Loss on extinguishment of debt	8,173	1,201
Stock-based compensation	23,610	24,104
Foreign currency, asset write downs and other non-cash adjustments	9,897	1,880
Change in assets and liabilities:
Accounts receivable, net	24,361	24,324
Inventories, net	(47,533)	(51,974)
Contract assets, net	35,358	(37,328)
Prepaid expenses and other assets, net	2,429	6,168
Accounts payable	(58,600)	(21,756)
Contract liabilities	9,379	(22,468)
Accrued liabilities and income taxes payable	9,136	22,762
Retirement obligations and other	(23,842)	22,729
Net deferred taxes	(34,933)	(9,325)
Net cash flows provided (used) by operating activities	151,107	114,251
Cash flows – Investing activities:
Capital expenditures	(34,034)	(46,424)
Proceeds from disposal of assets	2,525	13,759
Net affiliate investment activity	(7,204)	0
Net cash flows provided (used) by investing activities	(38,713)	(32,665)
Cash flows – Financing activities:
Payments on senior notes	(407,473)	(191,258)
Proceeds from issuance of senior notes	498,280	498,280
Proceeds from long-term debt	300,000	0
Payments of deferred loan cost	(5,399)	(4,572)
Proceeds under other financing arrangements	1,408	603
Payments under other financing arrangements	(6,215)	(7,145)
Repurchases of common shares	(17,531)	(32,112)
Payments related to tax withholding for stock-based compensation	(5,899)	(4,521)
Payments of dividends	(78,551)	(78,106)
Other	(6,276)	(2,314)
Net cash flows provided (used) by financing activities	272,344	178,855
Effect of exchange rate changes on cash	(22,743)	(10,243)
Net change in cash and cash equivalents	361,995	250,198
Cash and cash equivalents at beginning of period	1,095,274	670,980
Cash and cash equivalents at end of period	$ 1,457,269	$ 921,178

Basis of Presentation and Accou

Basis of Presentation and Accounting Policies	9 Months Ended
	Sep. 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 September 30, 2021, the related condensed consolidated statements of income and comprehensive income (loss) for the three and nine months ended September 30, 2021 and 2020, the condensed consolidated statements of shareholders' equity for the three and nine months ended September 30, 2021 and 2020 and the condensed consolidated statements of cash flows for the nine months ended September 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. Prior period information has been updated to conform to current year presentation. The accompanying condensed consolidated financial statements and notes in this Quarterly Report on Form 10-Q for the quarterly period ended September 30, 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. Additionally, we identified and corrected certain immaterial errors of cash flow activities on our condensed consolidated statement of cash flows for the nine month period ended September 30, 2020. We have assessed the above described errors and concluded the effects were not material to the period ended September 30, 2020 or any previous period. The September 30, 2020 balances, as presented herein, have been revised. Additionally, the December 31, 2020 balances will be revised the next time such financial statements are filed. Refer to Note 2 for a detailed discussion related to the impact of the revision as of and for the three and nine months ended September 30, 2020 and the impact to the December 31, 2020 balances, which will be revised in future filings. Coronavirus Pandemic ("COVID-19") and Oil and Gas Market - D uring the first nine 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, while we have seen customer maintenance, repair and overhaul ("MRO") and aftermarket spending return close to pre-pandemic levels, and although we are seeing momentum in project-based capital expenditures, such business 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. 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	9 Months Ended
	Sep. 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. Additionally, we identified and corrected certain immaterial errors of cash flow activities on our condensed consolidated statement of cash flows for the nine month period ended September 30, 2020. 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 $ 1,499 $ 543,220 Retained earnings 3,625,291 14,937 3,640,228 Accumulated other comprehensive loss (618,856) (16,436) (635,292) Total Flowserve Corporation shareholders’ equity 1,673,421 (1,499) 1,671,922 Total equity 1,703,843 (1,499) 1,702,344 _______________________________________ (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. Nine Months Ended September 30, 2020 (Amounts in thousands, except per share data) 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. Three Months Ended December 31, 2020 (Amounts in thousands, except per share data) 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. Year Ended December 31, 2020 (Amounts in thousands, except per share data) 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 nine months ended September 30, 2020 has been revised to reflect the impacts of the above described error. Additionally, the condensed consolidated statements of shareholders' equity 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 table presents the impact to affected sub-totals for the correction of the error on our condensed consolidated statement of cash flows for the nine month period ended September 30, 2020. There was no impact on the condensed consolidated statement of cash flows for the year ended December 31, 2020. 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 $ (1,378) $ 114,251 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 (117) 178,855 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	9 Months Ended
	Sep. 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 23% of total revenue for the three month period ended September 30, 2021 and 2020, respectively, and 15% and 22% for the nine month period ended September 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 77% of total revenue for the three month period ended September 30, 2021 and 2020, respectively, and 85% and 78% for the nine month period ended September 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 September 30, 2021 (Amounts in thousands) FPD FCD Total Original Equipment $ 223,358 $ 201,890 $ 425,248 Aftermarket 377,750 63,120 440,870 $ 601,108 $ 265,010 $ 866,118 Three Months Ended September 30, 2020 FPD FCD Total Original Equipment $ 280,951 $ 198,472 $ 479,423 Aftermarket 388,584 56,294 444,878 $ 669,535 $ 254,766 $ 924,301 Nine Months Ended September 30, 2021 (Amounts in thousands) FPD FCD Total Original Equipment $ 657,910 $ 608,707 $ 1,266,617 Aftermarket 1,162,798 192,189 1,354,987 $ 1,820,708 $ 800,896 $ 2,621,604 Nine Months Ended September 30, 2020 FPD FCD Total Original Equipment $ 805,150 $ 588,448 $ 1,393,598 Aftermarket 1,173,065 176,163 1,349,228 $ 1,978,215 $ 764,611 $ 2,742,826 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 September 30, 2021 (Amounts in thousands) FPD FCD Total North America(1) $ 230,130 $ 95,854 $ 325,984 Latin America(2) 63,443 7,320 70,763 Middle East and Africa 71,296 24,271 95,567 Asia Pacific 117,424 84,267 201,691 Europe 118,815 53,298 172,113 $ 601,108 $ 265,010 $ 866,118 Three Months Ended September 30, 2020 FPD FCD Total North America(1) $ 245,282 $ 96,435 $ 341,717 Latin America(2) 47,346 6,065 53,411 Middle East and Africa 83,330 29,045 112,375 Asia Pacific 151,227 66,836 218,063 Europe 142,350 56,385 198,735 $ 669,535 $ 254,766 $ 924,301 Nine Months Ended September 30, 2021 (Amounts in thousands) FPD FCD Total North America(1) $ 697,712 $ 284,217 $ 981,929 Latin America(2) 157,703 23,014 180,717 Middle East and Africa 223,502 78,503 302,005 Asia Pacific 361,450 251,864 613,314 Europe 380,341 163,298 543,639 $ 1,820,708 $ 800,896 $ 2,621,604 Nine Months Ended September 30, 2020 FPD FCD Total North America(1) $ 782,403 $ 326,271 $ 1,108,674 Latin America(2) 136,443 18,480 154,923 Middle East and Africa 277,231 77,404 354,635 Asia Pacific 391,796 185,946 577,742 Europe 390,342 156,510 546,852 $ 1,978,215 $ 764,611 $ 2,742,826 __________________________________ (1) North America represents the United States and Canada. (2) Latin America includes Mexico. On September 30, 2021 , the aggregate transaction price allocated to unsatisfied (or partially unsatisfied) performance obligations was approximately $493 million. We estimate recognition of approximately $145 million of this amount as revenue in the remainder of 2021 and an additional $348 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 nine months ended September 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 — — (137,305) — Revenue recognized in the period in excess of billings 539,813 — — — Billings arising during the period in excess of revenue recognized — — 145,369 — Amounts transferred from contract assets to receivables (563,145) (61) — — Currency effects and other, net (18,485) (109) (3,188) (40) Ending balance, September 30, 2021 $ 235,917 $ 969 $ 199,103 $ 782 (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 — — (159,376) (1,198) Revenue recognized in the period in excess of billings 654,967 — — — Billings arising during the period in excess of revenue recognized — — 137,986 309 Amounts transferred from contract assets to receivables (606,564) 191 — — Currency effects and other, net (11,187) (6,585) (1,325) 15 Ending balance, September 30, 2020 $ 310,130 $ 2,886 $ 198,380 $ 778 _____________________________________ (1) Included in other assets, net.

Allowance for Expected Credit L

Allowance for Expected Credit Losses	9 Months Ended
	Sep. 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 nine months ended September 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 4,234 — Write-offs (2,015) — Currency effects and other, net (1,429) (427) Ending balance, September 30, 2021 $ 75,966 $ 2,778 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 11,300 — Currency effects and other, net 4,379 58 Ending balance, September 30, 2020 $ 76,061 $ 3,043 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 nine months ended September 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 (145) (730) Balance at September 30 $ 67,697 $ 67,146

Stock-Based Compensation Plans

Stock-Based Compensation Plans	9 Months Ended
	Sep. 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, 11,312,201 were available for issuance as of September 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 September 30, 2021, 114,943 stock options were outstanding. No stock options were granted or vested during the nine months ended September 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 $30.5 million and $18.7 million at September 30, 2021 and December 31, 2020, respectively, which is expected to be recognized over a remaining weighted-average period of approximat ely one year. These amounts will be recognized into net earnings in prospective periods as the awards vest. The total fair value of Restricted Shares vested during the three months ended September 30, 2021 and 2020 was $0.2 million and $4.9 million , respectively. The total fair value of Restricted Shares vested during the nine months ended September 30, 2021 and 2020 was $24.6 million and $25.9 million , respectively. We recorded stock-based compensation expense of $5.5 million ($7.1 million pre-tax) and $4.3 million ($5.6 million pre-tax) for the three months ended September 30, 2021 and 2020, respectively. We recorded stock-based compensation expense of $18.2 million ($23.6 million pre-tax) and $18.7 million ($24.1 million pre-tax) for the nine months ended September 30, 2021 and 2020, respectively. The following table summarizes information regarding Restricted Shares: Nine Months Ended September 30, 2021 Shares Weighted Average Number of unvested shares: Outstanding - January 1, 2021 1,373,657 $ 46.76 Granted 1,000,997 39.59 Vested (555,708) 44.27 Forfeited (133,649) 47.19 Outstanding as of September 30, 2021 1,685,297 $ 43.29 Unvested Restricted Shares outstanding as of September 30, 2021 included approximate ly 511,000 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 1,064,000 shares based on performance targets. As of September 30, 2021, we estimate vesting of approximately 483,000 shares based on ex pected achievement of performance targets.

Derivative Instruments and Hedg

Derivative Instruments and Hedges	9 Months Ended
	Sep. 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 o f $361.3 million and $388.1 million at September 30, 2021 and December 31, 2020, respectively. At September 30, 2021, the length of foreign exchange contracts currently in place ranged from 20 days to 24 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: September 30, December 31, (Amounts in thousands) 2021 2020 Current derivative assets $ 2,533 $ 2,857 Noncurrent derivative assets — 249 Current derivative liabilities 4,800 682 Noncurrent derivative liabilities 99 — Current and noncurrent derivative assets are reported in our condensed consolidated balance sheets in prepaid expenses and other and other assets, net, respectively. Current and noncurrent derivative liabilities are reported in our condensed consolidated balance sheets in accrued liabilities and retirement obligations and other liabilities, respectively. The impact of net changes in the fair values of foreign exchange contracts are summarized below: Three Months Ended September 30, Nine Months Ended September 30, (Amounts in thousands) 2021 2020 2021 2020 (Losses) gains recognized in income $ (75) $ (2,293) $ 1,718 $ (2,354) 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 September 30, 2021 the combined notional value of these swaps wa s €423.2 million . The swaps are classified as Level II under the fair value hierarchy. The fair values of our cross-currency swaps are summarized below: September 30, December 31, (Amounts in thousands) 2021 2020 Other assets, net $ 15,513 $ — Retirement obligations and other liabilities 4,476 18,091 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 nine months ending September 30, 2021, an interest accrual of $2.3 million and $5.0 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 September 30, Nine Months Ended September 30, (Amounts in thousands) 2021 2020 2021 2020 (Gain) loss-included component (1) $ (8,869) $ (112) $ (8,684) $ (112) (Gain) loss-excluded component (2) (3,647) 2,514 243 2,514 (Gain) loss recognized in AOCL $ (12,516) $ 2,402 $ (8,441) $ 2,402 _____________________________________________ (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 designat ed €255.7 million of our 1.25% E UR 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 the first quarter 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 September 30, Nine Months Ended September 30, (Amounts in thousands) 2021 2020 2021 2020 Loss recognized in AOCL $ — $ 9,709 $ 29,554 $ 22,128 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 during the three and nine

Debt

Debt	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Debt	Debt Debt, including finance lease obligations, net of discounts and debt issuance costs, consisted of: September 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 $702 and $1,235 499,298 498,765 4.00% USD Senior Notes due November 15, 2023, net of unamortized discount and debt issuance costs of $1,009 and $1,345 298,991 298,655 3.50% USD Senior Notes due October 1, 2030, net of unamortized discount and debt issuance costs of $5,746 and $6,147 494,254 493,853 2.80% USD Senior Notes due January 15, 2032, net of unamortized discount and debt issuance costs of $6,407 as of September 30, 2021 493,593 — Term Loan Facility, interest rate of 1.36% and net of debt issuance costs of $692 as September 30, 2021 299,308 — Finance lease obligations and other borrowings 23,420 25,390 Debt and finance lease obligations 2,108,864 1,726,906 Less amounts due within one year 836,618 8,995 Total debt due after one year $ 1,272,246 $ 1,717,911 Senior Notes On September 23, 2021, we completed a public offering of $500.0 million in aggregate principal amount of senior notes due January 15, 2032 ("2032 Senior Notes"). The 2032 Senior Notes bear an interest rate of 2.800% per year, payable on January 15 and July 15 of each year, commencing on January 15, 2022. The 2032 Senior Notes were priced at 99.656% of par value, reflecting a discount to the aggregate principal amount. The combined proceeds of the notes offering and term loan facility, in addition to a portion of our excess cash balance, were intended to redeem our 3.500% Senior Notes due September 2022 (“2022 Senior Notes”) and our 4.000% Senior Notes due November 2023 (“2023 Senior Notes”), for which we have issued notices of redemption to the bondholders. Accordingly, on October 12, 2021, the 2022 Senior Notes and 2023 Senior Notes were redeemed in full at the make-whole redemption price and have been classified as current as of September 30, 2021. As a result of the redemption, in the fourth quarter of 2021 the Company incurred a loss on early extinguishment of $38.0 million, which included the impact of a $36.1 million make-whole premium . 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. Senior Credit Facility On September 13, 2021 ("Closing Date"), we amended and restated our credit agreement ("Amended and Restated Credit Agreement") under our Senior Credit Facility ("Credit Facility") with Bank of America, N.A. ("Administrative Agent") and the other lenders to provide greater flexibility in maintaining adequate liquidity and access to available borrowings. The Amended and Restated Credit Agreement, (i) retained, from the previous credit agreement, the $800.0 million unsecured Revolving Credit Facility, which includes a $750.0 million sublimit for the issuance of letters of credit and a $30.0 million sublimit for swing line loans, (ii) provides for an up to $300 million unsecured Term Loan Facility (the "Term Loan"), (iii) extends the maturity date of the agreement to September 13, 2026, (iv) reduces commitment fees, (v) extends net leverage ratio covenant definition through the maturity of the agreement, and (vi) provides the ability to make certain adjustments to the otherwise applicable commitment fee, interest rate and letter of credit fees based on the Company’s performance against to-be-established key performance indicators with respect to certain of the Company’s environmental, social and governance targets. Most other terms and conditions under the previous credit agreement (the "then existing credit agreement") remained unchanged. In conjunction with the amendment and restatement of the previous credit agreement we recorded a loss on early extinguishment of $0.6 million in the third quarter of 2021 related to deferred financing fees. On the Closing Date, approximately $300.0 million was drawn under the unsecured Term Loan to fund, in part, the previously announced redemption of the Company’s 2022 Senior Notes and 2023 Senior Notes. The interest rates per annum applicable to the Revolving Credit Facility are unchanged under the Amended and Restated Credit Agreement. The interest rates per annum applicable to the 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. ("Moody's") or Standard & Poor’s Financial Services LLC ("S&P"), or, at our option, the Base Rate (as defined in the Amended and Restated Credit Agreement) plus between 0.000% to 0.750% depending on our debt rating by either Moo dy’s or S&P. At September 30, 2021, the interest rate on the Revolving 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 0.080% and 0.250% of unused amounts under the Credit Facility depending on our debt rating by either Moody’s or S&P. The commitment f ee was 0.175% (per annum) during the during the period ended September 30, 2021. Under the terms and conditions of the Amended and Restated Credit Agreement, interest rates per annum applicable to the Term Loan are stated as LIBOR plus between 0.875% to 1.625%, depending on the Company’s debt rating by either Moody’s or S&P, or, at the option of the Company, the Base Rate plus between 0.000% to 0.625% depending on the Company’s debt rating by either Moody’s or S&P. As of September 30, 2021 and December 31, 2020, we had no revolving loans outstanding and we had outstanding letters of credit of $80.4 million and $58.1 million at September 30, 2021 and December 31, 2020, respectively. After consideration of the financial covenants under our Senior Credit Facility and outstanding letters of credit, as of September 30, 2021, the amount available for borrowings was limited to $708.6 million. As of December 31, 2020, t he amount available for borrowings under our Revolving Credit Facility was $741.9 million. 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 September 30, 2021. We have scheduled repayments of $7.5 million due in each of the next four quarters on our Term Loan .

Fair Value

Fair Value	9 Months Ended
	Sep. 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 September 30, 2021 was $1,850.5 million compared to the carrying value of $1,786.1 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 September 30, 2021 and December 31, 2020.

Inventories

Inventories	9 Months Ended
	Sep. 30, 2021
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories, net consisted of the following: September 30, December 31, (Amounts in thousands) 2021 2020 Raw materials $ 329,609 $ 321,600 Work in process 263,545 210,174 Finished goods 199,876 221,532 Less: Excess and obsolete reserve (94,984) (86,078) Inventories, net $ 698,046 $ 667,228

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 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 September 30, (Amounts in thousands, except per share data) 2021 2020 Net earnings of Flowserve Corporation $ 49,785 $ 56,115 Dividends on restricted shares not expected to vest — — Earnings attributable to common and participating shareholders $ 49,785 $ 56,115 Weighted average shares: Common stock 130,210 130,292 Participating securities 32 21 Denominator for basic earnings per common share 130,242 130,313 Effect of potentially dilutive securities 547 587 Denominator for diluted earnings per common share 130,789 130,900 Earnings per common share: Basic $ 0.38 $ 0.43 Diluted 0.38 0.43 Nine Months Ended September 30, (Amounts in thousands, except per share data) 2021 2020 Net earnings of Flowserve Corporation $ 109,218 $ 74,369 Dividends on restricted shares not expected to vest — — Earnings attributable to common and participating shareholders $ 109,218 $ 74,369 Weighted average shares: Common stock 130,298 130,390 Participating securities 27 23 Denominator for basic earnings per common share 130,325 130,413 Effect of potentially dilutive securities 542 655 Denominator for diluted earnings per common share 130,867 131,068 Earnings per common share: Basic $ 0.84 $ 0.57 Diluted 0.83 0.57

Legal Matters and Contingencies

Legal Matters and Contingencies	9 Months Ended
	Sep. 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 Nine Months Year Ended September 30, September 30, December 31, 2021 2020 2021 2020 2020 Beginning claims(1) 8,559 8,100 8,366 8,345 8,345 New claims 625 635 1,857 1,672 2,140 Resolved claims (645) (398) (1,668) (1,706) (2,203) Other(2) 82 9 66 35 84 Ending claims(1) 8,621 8,346 8,621 8,346 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 September 30, 2021 the Company incurred expenses (net of insurance) of approximately $5.6 million, compared to $2.4 million for the same period in 2020 to defend, resolve or otherwise dispose of outstanding claims, including legal and other related expenses. During the nine months ended September 30, 2021 the Company incurred expenses (net of insurance) of approximately $10.1 million , compared to $9.0 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 outflows (net of insurance and/or indemnity) to defend, resolve or otherwise dispose of outstanding claims, including legal and other related expenses of approxim ately $1.2 million and $5.0 million dur ing the nine months ended September 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	9 Months Ended
	Sep. 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 September 30, 2021 and 2020 were as follows: U.S. Non-U.S. Postretirement (Amounts in millions) 2021 2020 2021 2020 2021 2020 Service cost $ 6.3 $ 6.4 $ 1.8 $ 2.0 $ — $ — Interest cost 2.9 3.8 1.3 1.8 0.1 0.1 Expected return on plan assets (6.3) (6.4) (1.5) (1.4) — — Amortization of prior service cost — — — 0.1 — — Amortization of unrecognized net loss (gain) 1.9 1.7 1.1 1.2 — — Net periodic cost recognized $ 4.8 $ 5.5 $ 2.7 $ 3.7 $ 0.1 $ 0.1 Components of the net periodic cost for retirement and postretirement benefits for the nine months ended September 30, 2021 and 2020 were as follows: U.S. Non-U.S. Postretirement (Amounts in millions) 2021 2020 2021 2020 2021 2020 Service cost $ 18.9 $ 19.4 $ 5.5 $ 5.4 $ — $ — Interest cost 8.9 11.3 4.1 5.0 0.3 0.4 Expected return on plan assets (19.0) (19.3) (4.6) (3.8) — — Amortization of prior service cost 0.1 0.1 0.2 0.2 0.1 0.1 Amortization of unrecognized net loss (gain) 5.8 5.2 3.3 3.3 — (0.1) Net periodic cost recognized $ 14.7 $ 16.7 $ 8.5 $ 10.1 $ 0.4 $ 0.4 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	9 Months Ended
	Sep. 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 September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Dividends declared per share $ 0.20 $ 0.20 $ 0.60 $ 0.60 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 had no repurchases of shares of our outstanding common stock for both of the three months ended September 30, 2021 and 2020. We repurchased 440,000 shares of our outstanding common stock for $17.5 million during the nine months ended September 30, 2021, compared to 1,057,115 shares repurchases for $32.1 million for the same period in 2020. As of September 30, 2021, we had $96.1 million of remaining capacity under our current share repurchase program.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the three months ended September 30, 2021, we earned $41.4 million before taxes and recorded a benefit from income taxes of $10.4 million resulting in an effective tax rate of (25.2)%. For the nine months ended September 30, 2021, we earned $112.8 million before taxes and recorded a benefit from income taxes of $3.9 million resulting in an effective tax rate of (3.5)%. The effective tax rate varied from the U.S. federal statutory rate for the three months ended September 30, 2021 primarily due to the net impact of foreign operations and the reversal of certain deferred tax liabilities as a result of legal entity restructuring of foreign holding companies. The effective tax rate varied from the U.S. federal statutory rate for the nine months ended September 30, 2021 primarily due to higher withholding taxes related to transactions with and amongst various foreign subsidiaries, offset by the net impact of foreign operations, the reversal of certain deferred tax liabilities as a result of legal entity restructuring of foreign holding companies, and favorable resolution of audits in foreign jurisdictions. For the three months ended September 30, 2020, we earned $78.0 million before taxes and provided for income taxes of $19.2 million resulting in an effective tax rate of 24.6%. For the nine months ended September 30, 2020, we earned $141.9 million before taxes and provided for income taxes of $60.7 million resulting in an effective tax rate of 42.7%. The effective tax rate varied from the U.S. federal statutory rate for the three months ended September 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 nine months ended September 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 nine months ended September 30, 2021, there were 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 September 30, 2021, the amount of unrecognized tax benefits decreased by $2.0 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 $12 million within the next 12 months.

Segment Information

Segment Information	9 Months Ended
	Sep. 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 September 30, 2021 (Amounts in thousands) FPD FCD Subtotal–Reportable Segments Eliminations and All Other Consolidated Total Sales to external customers $ 601,108 $ 265,010 $ 866,118 $ — $ 866,118 Intersegment sales 731 1,114 1,845 (1,845) — Segment operating income 59,071 27,743 86,814 (29,452) 57,362 Three Months Ended September 30, 2020 FPD FCD Subtotal–Reportable Segments Eliminations and All Other Consolidated Total Sales to external customers $ 669,535 $ 254,766 $ 924,301 $ — $ 924,301 Intersegment sales 673 455 1,128 (1,128) — Segment operating income 86,660 30,752 117,412 (30,090) 87,322 Nine Months Ended September 30, 2021 (Amounts in thousands) FPD FCD Subtotal–Reportable Segments Eliminations and All Other Consolidated Total Sales to external customers $ 1,820,708 $ 800,896 $ 2,621,604 $ — $ 2,621,604 Intersegment sales 1,463 2,211 3,674 (3,674) — Segment operating income 180,698 89,685 270,383 (84,755) 185,628 Nine Months Ended September 30, 2020 FPD FCD Subtotal–Reportable Segments Eliminations and All Other Consolidated Total Sales to external customers $ 1,978,215 $ 764,611 $ 2,742,826 $ — $ 2,742,826 Intersegment sales 1,710 2,280 3,990 (3,990) — Segment operating income 186,740 74,160 260,900 (105,923) 154,977

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	9 Months Ended
	Sep. 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 September 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 - July 1 $ (453,328) $ (140,405) $ (271) $ (594,004) $ (518,377) $ (129,094) $ (573) $ (648,044) Other comprehensive income (loss) before reclassifications (15,561) 2,300 (1,347) (14,608) 19,555 (3,647) 41 15,949 Amounts reclassified from AOCL — 2,655 — 2,655 — 2,671 — 2,671 Net current-period other comprehensive income (loss) (15,561) 4,955 (1,347) (11,953) 19,555 (976) 41 18,620 Balance - September 30 $ (468,889) $ (135,450) $ (1,618) $ (605,957) $ (498,822) $ (130,070) $ (532) $ (629,424) ________________________________ (1) Includes foreign currency translation adjustments attributable to noncontrolling interests of $6.1 million and $5.9 million at July 1, 2021 and 2020, respectively, and $6.1 million and $5.8 million at September 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 September 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 $ (2,978) $ (2,942) Prior service costs(2) Other income (expense), net (149) (150) Tax benefit 472 421 Net of tax $ (2,655) $ (2,671) __________________________________ (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 nine months ended September 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) $ (441,366) $ (137,161) $ (671) $ (579,198) Other comprehensive (loss) income before reclassifications (12,452) 3,104 (1,130) (10,478) (57,456) (531) 139 (57,848) Amounts reclassified from AOCL — 8,169 — 8,169 — 7,622 — 7,622 Net current-period other comprehensive (loss) income (12,452) 11,273 (1,130) (2,309) (57,456) 7,091 139 (50,226) Balance - September 30 $ (468,889) $ (135,450) $ (1,618) $ (605,957) $ (498,822) $ (130,070) $ (532) $ (629,424) (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 $5.8 million at September 30, 2021 and 2020, respectively. Amounts in parentheses indicate an increase to AOCL. The following table presents the reclassifications out of AOCL: Nine Months Ended September 30, (Amounts in thousands) Affected line item in the statement of income 2021(1) 2020(1) Pension and other postretirement effects Amortization of actuarial losses(2) Other income (expense), net $ (9,126) $ (8,456) Prior service costs(2) Other income (expense), net (457) (429) Tax benefit 1,414 1,263 Net of tax $ (8,169) $ (7,622) __________________________________ (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	9 Months Ended
	Sep. 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 in 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 nine months ended September 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 September 30, 2021 (Amounts in thousands) FPD FCD Subtotal–Reportable Segments All Other Consolidated Total Realignment Charges Restructuring Charges COS $ 1,659 $ 185 $ 1,844 $ — $ 1,844 SG&A 38 (7) 31 — 31 $ 1,697 $ 178 $ 1,875 $ — $ 1,875 Non-Restructuring Charges COS $ 614 $ 124 $ 738 $ — $ 738 SG&A (290) 6 (284) 621 337 $ 324 $ 130 $ 454 $ 621 $ 1,075 Total Realignment Charges COS $ 2,273 $ 309 $ 2,582 $ — $ 2,582 SG&A (252) (1) (253) 621 368 Total $ 2,021 $ 308 $ 2,329 $ 621 $ 2,950 Three Months Ended September 30, 2020 (Amounts in thousands) FPD FCD Subtotal–Reportable Segments All Other Consolidated Total Realignment Charges Restructuring Charges COS $ 5,469 $ 590 $ 6,059 $ — $ 6,059 SG&A (10) (2) (12) — (12) $ 5,459 $ 588 $ 6,047 $ — $ 6,047 Non-Restructuring Charges COS $ 1,210 $ (1,366) $ (156) $ (245) $ (401) SG&A 1,097 75 1,172 613 1,785 $ 2,307 $ (1,291) $ 1,016 $ 368 $ 1,384 Total Realignment Charges COS $ 6,679 $ (776) $ 5,903 $ (245) $ 5,658 SG&A 1,087 73 1,160 613 $ 1,773 Total $ 7,766 $ (703) $ 7,063 $ 368 $ 7,431 Transformation Charges SG&A $ — $ — $ — $ 4,746 $ 4,746 $ — $ — $ — $ 4,746 $ 4,746 Total Realignment and Transformation Charges COS $ 6,679 $ (776) $ 5,903 $ (245) $ 5,658 SG&A 1,087 $ 73 1,160 5,359 6,519 Total $ 7,766 $ (703) $ 7,063 $ 5,114 $ 12,177 Nine Months Ended September 30, 2021 (Amounts in thousands) FPD FCD Subtotal–Reportable Segments All Other Consolidated Total Realignment Charges Restructuring Charges COS $ 7,702 $ 655 $ 8,357 $ — $ 8,357 SG&A 705 (17) 688 — 688 $ 8,407 $ 638 $ 9,045 $ — $ 9,045 Non-Restructuring Charges COS $ 6,064 $ 802 $ 6,866 $ 590 $ 7,456 SG&A 205 744 949 4,816 5,765 $ 6,269 $ 1,546 $ 7,815 $ 5,406 $ 13,221 Total Realignment Charges COS $ 13,766 $ 1,457 $ 15,223 $ 590 $ 15,813 SG&A 910 727 1,637 4,816 6,453 Total $ 14,676 $ 2,184 $ 16,860 $ 5,406 $ 22,266 Nine Months Ended September 30, 2020 (Amounts in thousands) FPD FCD Subtotal–Reportable Segments All Other Consolidated Total Restructuring Charges COS $ 18,800 $ 318 $ 19,118 $ — $ 19,118 SG&A 221 (5) 216 — 216 $ 19,021 $ 313 $ 19,334 $ — $ 19,334 Non-Restructuring Charges COS $ 13,339 $ 7,876 $ 21,215 $ 303 $ 21,518 SG&A 10,899 4,459 15,358 16,107 31,465 $ 24,238 $ 12,335 $ 36,573 $ 16,410 $ 52,983 Total Realignment Charges COS $ 32,139 $ 8,194 $ 40,333 $ 303 $ 40,636 SG&A 11,120 4,454 15,574 16,107 31,681 Total $ 43,259 $ 12,648 $ 55,907 $ 16,410 $ 72,317 Transformation Charges SG&A $ — $ — $ — $ 16,007 $ 16,007 $ — $ — $ — $ 16,007 $ 16,007 Total Realignment Charges COS $ 32,139 $ 8,194 $ 40,333 $ 303 $ 40,636 SG&A 11,120 4,454 15,574 32,114 47,688 Total $ 43,259 $ 12,648 $ 55,907 $ 32,417 $ 88,324 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 $ 25,531 $ 1,882 $ 27,413 $ — $ 27,413 SG&A 756 309 1,065 — 1,065 $ 26,287 $ 2,191 $ 28,478 $ — $ 28,478 Non-Restructuring Charges COS $ 25,267 $ 329 $ 25,596 $ 642 $ 26,238 SG&A 10,886 5,299 16,185 22,698 38,883 $ 36,153 $ 5,628 $ 41,781 $ 23,340 $ 65,121 Total Realignment Charges COS $ 50,798 $ 2,211 $ 53,009 $ 642 $ 53,651 SG&A 11,642 5,608 17,250 22,698 39,948 Total $ 62,440 $ 7,819 $ 70,259 $ 23,340 $ 93,599 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 September 30, 2021 (Amounts in thousands) Severance Contract Termination Asset Write-Downs Other Total COS $ (371) $ — $ 1,282 $ 933 $ 1,844 SG&A — — — 31 31 Total $ (371) $ — $ 1,282 $ 964 $ 1,875 Three Months Ended September 30, 2020 (Amounts in thousands) Severance Contract Termination Asset Write-Downs Other Total COS $ 4,704 $ — $ 331 $ 1,024 $ 6,059 SG&A (16) — 3 1 (12) Total $ 4,688 $ — $ 334 $ 1,025 $ 6,047 Nine Months Ended September 30, 2021 (Amounts in thousands) Severance Contract Termination Asset Write-Downs Other Total COS $ 848 $ — $ 2,623 $ 4,886 $ 8,357 SG&A 168 — 520 688 Total $ 1,016 $ — $ 2,623 $ 5,406 $ 9,045 Nine Months Ended September 30, 2020 (Amounts in thousands) Severance Contract Termination Asset Write-Downs Other Total COS $ 16,959 $ — $ 1,322 $ 837 $ 19,118 SG&A 228 — 25 (37) 216 Total $ 17,187 $ — $ 1,347 $ 800 $ 19,334 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 $ 16,092 $ 52 $ 4,035 $ 7,234 $ 27,413 SG&A 252 — 14 799 1,065 Total $ 16,344 $ 52 $ 4,049 $ 8,033 $ 28,478 The following represents the activity, primarily severance charges from reductions in force, related to the restructuring reserves for the nine months ended September 30, 2021 and 2020: (Amounts in thousands) 2021 2020 Balance at January 1 $ 18,255 $ 6,703 Charges, net of adjustments 6,423 17,986 Cash expenditures (16,999) (4,772) Other non-cash adjustments, including currency (1,039) 425 Balance at September 30 $ 6,640 $ 20,342

Basis of Presentation and Acc_2

Basis of Presentation and Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying condensed consolidated balance sheet as of September 30, 2021, the related condensed consolidated statements of income and comprehensive income (loss) for the three and nine months ended September 30, 2021 and 2020, the condensed consolidated statements of shareholders' equity for the three and nine months ended September 30, 2021 and 2020 and the condensed consolidated statements of cash flows for the nine months ended September 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. 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. 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)	9 Months Ended
	Sep. 30, 2021
Accounting Changes and Error Corrections [Abstract]
Schedule of Adjustments	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 $ 1,499 $ 543,220 Retained earnings 3,625,291 14,937 3,640,228 Accumulated other comprehensive loss (618,856) (16,436) (635,292) Total Flowserve Corporation shareholders’ equity 1,673,421 (1,499) 1,671,922 Total equity 1,703,843 (1,499) 1,702,344 _______________________________________ (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. Nine Months Ended September 30, 2020 (Amounts in thousands, except per share data) 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. Three Months Ended December 31, 2020 (Amounts in thousands, except per share data) 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. Year Ended December 31, 2020 (Amounts in thousands, except per share data) 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 following table presents the impact to affected sub-totals for the correction of the error on our condensed consolidated statement of cash flows for the nine month period ended September 30, 2020. There was no impact on the condensed consolidated statement of cash flows for the year ended December 31, 2020. 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 $ (1,378) $ 114,251 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 (117) 178,855 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)	9 Months Ended
	Sep. 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 September 30, 2021 (Amounts in thousands) FPD FCD Total Original Equipment $ 223,358 $ 201,890 $ 425,248 Aftermarket 377,750 63,120 440,870 $ 601,108 $ 265,010 $ 866,118 Three Months Ended September 30, 2020 FPD FCD Total Original Equipment $ 280,951 $ 198,472 $ 479,423 Aftermarket 388,584 56,294 444,878 $ 669,535 $ 254,766 $ 924,301 Nine Months Ended September 30, 2021 (Amounts in thousands) FPD FCD Total Original Equipment $ 657,910 $ 608,707 $ 1,266,617 Aftermarket 1,162,798 192,189 1,354,987 $ 1,820,708 $ 800,896 $ 2,621,604 Nine Months Ended September 30, 2020 FPD FCD Total Original Equipment $ 805,150 $ 588,448 $ 1,393,598 Aftermarket 1,173,065 176,163 1,349,228 $ 1,978,215 $ 764,611 $ 2,742,826 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 September 30, 2021 (Amounts in thousands) FPD FCD Total North America(1) $ 230,130 $ 95,854 $ 325,984 Latin America(2) 63,443 7,320 70,763 Middle East and Africa 71,296 24,271 95,567 Asia Pacific 117,424 84,267 201,691 Europe 118,815 53,298 172,113 $ 601,108 $ 265,010 $ 866,118 Three Months Ended September 30, 2020 FPD FCD Total North America(1) $ 245,282 $ 96,435 $ 341,717 Latin America(2) 47,346 6,065 53,411 Middle East and Africa 83,330 29,045 112,375 Asia Pacific 151,227 66,836 218,063 Europe 142,350 56,385 198,735 $ 669,535 $ 254,766 $ 924,301 Nine Months Ended September 30, 2021 (Amounts in thousands) FPD FCD Total North America(1) $ 697,712 $ 284,217 $ 981,929 Latin America(2) 157,703 23,014 180,717 Middle East and Africa 223,502 78,503 302,005 Asia Pacific 361,450 251,864 613,314 Europe 380,341 163,298 543,639 $ 1,820,708 $ 800,896 $ 2,621,604 Nine Months Ended September 30, 2020 FPD FCD Total North America(1) $ 782,403 $ 326,271 $ 1,108,674 Latin America(2) 136,443 18,480 154,923 Middle East and Africa 277,231 77,404 354,635 Asia Pacific 391,796 185,946 577,742 Europe 390,342 156,510 546,852 $ 1,978,215 $ 764,611 $ 2,742,826 __________________________________ (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 nine months ended September 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 — — (137,305) — Revenue recognized in the period in excess of billings 539,813 — — — Billings arising during the period in excess of revenue recognized — — 145,369 — Amounts transferred from contract assets to receivables (563,145) (61) — — Currency effects and other, net (18,485) (109) (3,188) (40) Ending balance, September 30, 2021 $ 235,917 $ 969 $ 199,103 $ 782 (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 — — (159,376) (1,198) Revenue recognized in the period in excess of billings 654,967 — — — Billings arising during the period in excess of revenue recognized — — 137,986 309 Amounts transferred from contract assets to receivables (606,564) 191 — — Currency effects and other, net (11,187) (6,585) (1,325) 15 Ending balance, September 30, 2020 $ 310,130 $ 2,886 $ 198,380 $ 778 _____________________________________ (1) Included in other assets, net.

Allowance for Expected Credit_2

Allowance for Expected Credit Losses (Tables)	9 Months Ended
	Sep. 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 nine months ended September 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 4,234 — Write-offs (2,015) — Currency effects and other, net (1,429) (427) Ending balance, September 30, 2021 $ 75,966 $ 2,778 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 11,300 — Currency effects and other, net 4,379 58 Ending balance, September 30, 2020 $ 76,061 $ 3,043
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 nine months ended September 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 4,234 — Write-offs (2,015) — Currency effects and other, net (1,429) (427) Ending balance, September 30, 2021 $ 75,966 $ 2,778 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 11,300 — Currency effects and other, net 4,379 58 Ending balance, September 30, 2020 $ 76,061 $ 3,043
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 nine months ended September 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 (145) (730) Balance at September 30 $ 67,697 $ 67,146

Stock-Based Compensation Plans

Stock-Based Compensation Plans (Tables)	9 Months Ended
	Sep. 30, 2021
Share-based Payment Arrangement [Abstract]
Information Regarding Restricted Shares	The following table summarizes information regarding Restricted Shares: Nine Months Ended September 30, 2021 Shares Weighted Average Number of unvested shares: Outstanding - January 1, 2021 1,373,657 $ 46.76 Granted 1,000,997 39.59 Vested (555,708) 44.27 Forfeited (133,649) 47.19 Outstanding as of September 30, 2021 1,685,297 $ 43.29

Derivative Instruments and He_2

Derivative Instruments and Hedges (Tables)	9 Months Ended
	Sep. 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: September 30, December 31, (Amounts in thousands) 2021 2020 Current derivative assets $ 2,533 $ 2,857 Noncurrent derivative assets — 249 Current derivative liabilities 4,800 682 Noncurrent derivative liabilities 99 —
Impact of Net Changes in Fair Values of Forward Exchange Contracts Not Designated as Hedging Instruments	The impact of net changes in the fair values of foreign exchange contracts are summarized below: Three Months Ended September 30, Nine Months Ended September 30, (Amounts in thousands) 2021 2020 2021 2020 (Losses) gains recognized in income $ (75) $ (2,293) $ 1,718 $ (2,354) 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 September 30, Nine Months Ended September 30, (Amounts in thousands) 2021 2020 2021 2020 (Gain) loss-included component (1) $ (8,869) $ (112) $ (8,684) $ (112) (Gain) loss-excluded component (2) (3,647) 2,514 243 2,514 (Gain) loss recognized in AOCL $ (12,516) $ 2,402 $ (8,441) $ 2,402 _____________________________________________ (1) Change in the fair value of the swaps attributable to changes in spot rates.
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The fair values of our cross-currency swaps are summarized below: September 30, December 31, (Amounts in thousands) 2021 2020 Other assets, net $ 15,513 $ — Retirement obligations and other liabilities 4,476 18,091
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 September 30, Nine Months Ended September 30, (Amounts in thousands) 2021 2020 2021 2020 Loss recognized in AOCL $ — $ 9,709 $ 29,554 $ 22,128

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Debt Including Capital Lease Obligations	Debt, including finance lease obligations, net of discounts and debt issuance costs, consisted of: September 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 $702 and $1,235 499,298 498,765 4.00% USD Senior Notes due November 15, 2023, net of unamortized discount and debt issuance costs of $1,009 and $1,345 298,991 298,655 3.50% USD Senior Notes due October 1, 2030, net of unamortized discount and debt issuance costs of $5,746 and $6,147 494,254 493,853 2.80% USD Senior Notes due January 15, 2032, net of unamortized discount and debt issuance costs of $6,407 as of September 30, 2021 493,593 — Term Loan Facility, interest rate of 1.36% and net of debt issuance costs of $692 as September 30, 2021 299,308 — Finance lease obligations and other borrowings 23,420 25,390 Debt and finance lease obligations 2,108,864 1,726,906 Less amounts due within one year 836,618 8,995 Total debt due after one year $ 1,272,246 $ 1,717,911

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2021
Inventory Disclosure [Abstract]
Net Components of Inventory	Inventories, net consisted of the following: September 30, December 31, (Amounts in thousands) 2021 2020 Raw materials $ 329,609 $ 321,600 Work in process 263,545 210,174 Finished goods 199,876 221,532 Less: Excess and obsolete reserve (94,984) (86,078) Inventories, net $ 698,046 $ 667,228

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 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 September 30, (Amounts in thousands, except per share data) 2021 2020 Net earnings of Flowserve Corporation $ 49,785 $ 56,115 Dividends on restricted shares not expected to vest — — Earnings attributable to common and participating shareholders $ 49,785 $ 56,115 Weighted average shares: Common stock 130,210 130,292 Participating securities 32 21 Denominator for basic earnings per common share 130,242 130,313 Effect of potentially dilutive securities 547 587 Denominator for diluted earnings per common share 130,789 130,900 Earnings per common share: Basic $ 0.38 $ 0.43 Diluted 0.38 0.43 Nine Months Ended September 30, (Amounts in thousands, except per share data) 2021 2020 Net earnings of Flowserve Corporation $ 109,218 $ 74,369 Dividends on restricted shares not expected to vest — — Earnings attributable to common and participating shareholders $ 109,218 $ 74,369 Weighted average shares: Common stock 130,298 130,390 Participating securities 27 23 Denominator for basic earnings per common share 130,325 130,413 Effect of potentially dilutive securities 542 655 Denominator for diluted earnings per common share 130,867 131,068 Earnings per common share: Basic $ 0.84 $ 0.57 Diluted 0.83 0.57

Legal Matters and Contingenci_2

Legal Matters and Contingencies (Tables)	9 Months Ended
	Sep. 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 Nine Months Year Ended September 30, September 30, December 31, 2021 2020 2021 2020 2020 Beginning claims(1) 8,559 8,100 8,366 8,345 8,345 New claims 625 635 1,857 1,672 2,140 Resolved claims (645) (398) (1,668) (1,706) (2,203) Other(2) 82 9 66 35 84 Ending claims(1) 8,621 8,346 8,621 8,346 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)	9 Months Ended
	Sep. 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 September 30, 2021 and 2020 were as follows: U.S. Non-U.S. Postretirement (Amounts in millions) 2021 2020 2021 2020 2021 2020 Service cost $ 6.3 $ 6.4 $ 1.8 $ 2.0 $ — $ — Interest cost 2.9 3.8 1.3 1.8 0.1 0.1 Expected return on plan assets (6.3) (6.4) (1.5) (1.4) — — Amortization of prior service cost — — — 0.1 — — Amortization of unrecognized net loss (gain) 1.9 1.7 1.1 1.2 — — Net periodic cost recognized $ 4.8 $ 5.5 $ 2.7 $ 3.7 $ 0.1 $ 0.1 Components of the net periodic cost for retirement and postretirement benefits for the nine months ended September 30, 2021 and 2020 were as follows: U.S. Non-U.S. Postretirement (Amounts in millions) 2021 2020 2021 2020 2021 2020 Service cost $ 18.9 $ 19.4 $ 5.5 $ 5.4 $ — $ — Interest cost 8.9 11.3 4.1 5.0 0.3 0.4 Expected return on plan assets (19.0) (19.3) (4.6) (3.8) — — Amortization of prior service cost 0.1 0.1 0.2 0.2 0.1 0.1 Amortization of unrecognized net loss (gain) 5.8 5.2 3.3 3.3 — (0.1) Net periodic cost recognized $ 14.7 $ 16.7 $ 8.5 $ 10.1 $ 0.4 $ 0.4

Statement of Shareholders' Equi

Statement of Shareholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Summary of Dividends Declared	Dividends declared per share were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Dividends declared per share $ 0.20 $ 0.20 $ 0.60 $ 0.60

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 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 September 30, 2021 (Amounts in thousands) FPD FCD Subtotal–Reportable Segments Eliminations and All Other Consolidated Total Sales to external customers $ 601,108 $ 265,010 $ 866,118 $ — $ 866,118 Intersegment sales 731 1,114 1,845 (1,845) — Segment operating income 59,071 27,743 86,814 (29,452) 57,362 Three Months Ended September 30, 2020 FPD FCD Subtotal–Reportable Segments Eliminations and All Other Consolidated Total Sales to external customers $ 669,535 $ 254,766 $ 924,301 $ — $ 924,301 Intersegment sales 673 455 1,128 (1,128) — Segment operating income 86,660 30,752 117,412 (30,090) 87,322 Nine Months Ended September 30, 2021 (Amounts in thousands) FPD FCD Subtotal–Reportable Segments Eliminations and All Other Consolidated Total Sales to external customers $ 1,820,708 $ 800,896 $ 2,621,604 $ — $ 2,621,604 Intersegment sales 1,463 2,211 3,674 (3,674) — Segment operating income 180,698 89,685 270,383 (84,755) 185,628 Nine Months Ended September 30, 2020 FPD FCD Subtotal–Reportable Segments Eliminations and All Other Consolidated Total Sales to external customers $ 1,978,215 $ 764,611 $ 2,742,826 $ — $ 2,742,826 Intersegment sales 1,710 2,280 3,990 (3,990) — Segment operating income 186,740 74,160 260,900 (105,923) 154,977

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 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 September 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 - July 1 $ (453,328) $ (140,405) $ (271) $ (594,004) $ (518,377) $ (129,094) $ (573) $ (648,044) Other comprehensive income (loss) before reclassifications (15,561) 2,300 (1,347) (14,608) 19,555 (3,647) 41 15,949 Amounts reclassified from AOCL — 2,655 — 2,655 — 2,671 — 2,671 Net current-period other comprehensive income (loss) (15,561) 4,955 (1,347) (11,953) 19,555 (976) 41 18,620 Balance - September 30 $ (468,889) $ (135,450) $ (1,618) $ (605,957) $ (498,822) $ (130,070) $ (532) $ (629,424) ________________________________ (1) Includes foreign currency translation adjustments attributable to noncontrolling interests of $6.1 million and $5.9 million at July 1, 2021 and 2020, respectively, and $6.1 million and $5.8 million at September 30, 2021 and 2020, respectively. Amounts in parentheses indicate an increase to AOCL. The following table presents the changes in AOCL, net of tax for the nine months ended September 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) $ (441,366) $ (137,161) $ (671) $ (579,198) Other comprehensive (loss) income before reclassifications (12,452) 3,104 (1,130) (10,478) (57,456) (531) 139 (57,848) Amounts reclassified from AOCL — 8,169 — 8,169 — 7,622 — 7,622 Net current-period other comprehensive (loss) income (12,452) 11,273 (1,130) (2,309) (57,456) 7,091 139 (50,226) Balance - September 30 $ (468,889) $ (135,450) $ (1,618) $ (605,957) $ (498,822) $ (130,070) $ (532) $ (629,424) (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 $5.8 million at September 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 September 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 $ (2,978) $ (2,942) Prior service costs(2) Other income (expense), net (149) (150) Tax benefit 472 421 Net of tax $ (2,655) $ (2,671) __________________________________ (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 reclassifications out of AOCL: Nine Months Ended September 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 $ (9,126) $ (8,456) Prior service costs(2) Other income (expense), net (457) (429) Tax benefit 1,414 1,263 Net of tax $ (8,169) $ (7,622) __________________________________ (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)	9 Months Ended
	Sep. 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 September 30, 2021 (Amounts in thousands) FPD FCD Subtotal–Reportable Segments All Other Consolidated Total Realignment Charges Restructuring Charges COS $ 1,659 $ 185 $ 1,844 $ — $ 1,844 SG&A 38 (7) 31 — 31 $ 1,697 $ 178 $ 1,875 $ — $ 1,875 Non-Restructuring Charges COS $ 614 $ 124 $ 738 $ — $ 738 SG&A (290) 6 (284) 621 337 $ 324 $ 130 $ 454 $ 621 $ 1,075 Total Realignment Charges COS $ 2,273 $ 309 $ 2,582 $ — $ 2,582 SG&A (252) (1) (253) 621 368 Total $ 2,021 $ 308 $ 2,329 $ 621 $ 2,950 Three Months Ended September 30, 2020 (Amounts in thousands) FPD FCD Subtotal–Reportable Segments All Other Consolidated Total Realignment Charges Restructuring Charges COS $ 5,469 $ 590 $ 6,059 $ — $ 6,059 SG&A (10) (2) (12) — (12) $ 5,459 $ 588 $ 6,047 $ — $ 6,047 Non-Restructuring Charges COS $ 1,210 $ (1,366) $ (156) $ (245) $ (401) SG&A 1,097 75 1,172 613 1,785 $ 2,307 $ (1,291) $ 1,016 $ 368 $ 1,384 Total Realignment Charges COS $ 6,679 $ (776) $ 5,903 $ (245) $ 5,658 SG&A 1,087 73 1,160 613 $ 1,773 Total $ 7,766 $ (703) $ 7,063 $ 368 $ 7,431 Transformation Charges SG&A $ — $ — $ — $ 4,746 $ 4,746 $ — $ — $ — $ 4,746 $ 4,746 Total Realignment and Transformation Charges COS $ 6,679 $ (776) $ 5,903 $ (245) $ 5,658 SG&A 1,087 $ 73 1,160 5,359 6,519 Total $ 7,766 $ (703) $ 7,063 $ 5,114 $ 12,177 Nine Months Ended September 30, 2021 (Amounts in thousands) FPD FCD Subtotal–Reportable Segments All Other Consolidated Total Realignment Charges Restructuring Charges COS $ 7,702 $ 655 $ 8,357 $ — $ 8,357 SG&A 705 (17) 688 — 688 $ 8,407 $ 638 $ 9,045 $ — $ 9,045 Non-Restructuring Charges COS $ 6,064 $ 802 $ 6,866 $ 590 $ 7,456 SG&A 205 744 949 4,816 5,765 $ 6,269 $ 1,546 $ 7,815 $ 5,406 $ 13,221 Total Realignment Charges COS $ 13,766 $ 1,457 $ 15,223 $ 590 $ 15,813 SG&A 910 727 1,637 4,816 6,453 Total $ 14,676 $ 2,184 $ 16,860 $ 5,406 $ 22,266 Nine Months Ended September 30, 2020 (Amounts in thousands) FPD FCD Subtotal–Reportable Segments All Other Consolidated Total Restructuring Charges COS $ 18,800 $ 318 $ 19,118 $ — $ 19,118 SG&A 221 (5) 216 — 216 $ 19,021 $ 313 $ 19,334 $ — $ 19,334 Non-Restructuring Charges COS $ 13,339 $ 7,876 $ 21,215 $ 303 $ 21,518 SG&A 10,899 4,459 15,358 16,107 31,465 $ 24,238 $ 12,335 $ 36,573 $ 16,410 $ 52,983 Total Realignment Charges COS $ 32,139 $ 8,194 $ 40,333 $ 303 $ 40,636 SG&A 11,120 4,454 15,574 16,107 31,681 Total $ 43,259 $ 12,648 $ 55,907 $ 16,410 $ 72,317 Transformation Charges SG&A $ — $ — $ — $ 16,007 $ 16,007 $ — $ — $ — $ 16,007 $ 16,007 Total Realignment Charges COS $ 32,139 $ 8,194 $ 40,333 $ 303 $ 40,636 SG&A 11,120 4,454 15,574 32,114 47,688 Total $ 43,259 $ 12,648 $ 55,907 $ 32,417 $ 88,324 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 $ 25,531 $ 1,882 $ 27,413 $ — $ 27,413 SG&A 756 309 1,065 — 1,065 $ 26,287 $ 2,191 $ 28,478 $ — $ 28,478 Non-Restructuring Charges COS $ 25,267 $ 329 $ 25,596 $ 642 $ 26,238 SG&A 10,886 5,299 16,185 22,698 38,883 $ 36,153 $ 5,628 $ 41,781 $ 23,340 $ 65,121 Total Realignment Charges COS $ 50,798 $ 2,211 $ 53,009 $ 642 $ 53,651 SG&A 11,642 5,608 17,250 22,698 39,948 Total $ 62,440 $ 7,819 $ 70,259 $ 23,340 $ 93,599
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 September 30, 2021 (Amounts in thousands) Severance Contract Termination Asset Write-Downs Other Total COS $ (371) $ — $ 1,282 $ 933 $ 1,844 SG&A — — — 31 31 Total $ (371) $ — $ 1,282 $ 964 $ 1,875 Three Months Ended September 30, 2020 (Amounts in thousands) Severance Contract Termination Asset Write-Downs Other Total COS $ 4,704 $ — $ 331 $ 1,024 $ 6,059 SG&A (16) — 3 1 (12) Total $ 4,688 $ — $ 334 $ 1,025 $ 6,047 Nine Months Ended September 30, 2021 (Amounts in thousands) Severance Contract Termination Asset Write-Downs Other Total COS $ 848 $ — $ 2,623 $ 4,886 $ 8,357 SG&A 168 — 520 688 Total $ 1,016 $ — $ 2,623 $ 5,406 $ 9,045 Nine Months Ended September 30, 2020 (Amounts in thousands) Severance Contract Termination Asset Write-Downs Other Total COS $ 16,959 $ — $ 1,322 $ 837 $ 19,118 SG&A 228 — 25 (37) 216 Total $ 17,187 $ — $ 1,347 $ 800 $ 19,334 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 $ 16,092 $ 52 $ 4,035 $ 7,234 $ 27,413 SG&A 252 — 14 799 1,065 Total $ 16,344 $ 52 $ 4,049 $ 8,033 $ 28,478 The following represents the activity, primarily severance charges from reductions in force, related to the restructuring reserves for the nine months ended September 30, 2021 and 2020: (Amounts in thousands) 2021 2020 Balance at January 1 $ 18,255 $ 6,703 Charges, net of adjustments 6,423 17,986 Cash expenditures (16,999) (4,772) Other non-cash adjustments, including currency (1,039) 425 Balance at September 30 $ 6,640 $ 20,342

Basis of Presentation and Acc_3

Basis of Presentation and Accounting Policies (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase to retirement obligations and other liabilities	$ 457,964	$ 517,566	$ 543,220
Increase to retained earnings	3,700,507	3,670,543	3,640,228
Increase to accumulated other comprehensive loss	$ (612,093)	(609,625)	$ (635,292)
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	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Increase to retirement obligations and other liabilities	$ 457,964	$ 517,566	$ 543,220
Increase to retained earnings	3,700,507	3,670,543	3,640,228
Increase to accumulated other comprehensive loss	$ (612,093)	(609,625)	$ (635,292)
Foreign Currency Transactions
Error Corrections and Prior Period Adjustments Restatement [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_4

Revision to Previously Reported Financial Information - Balance Sheet (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Dec. 31, 2019
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Retirement obligations and other liabilities	$ 457,964		$ 517,566	$ 543,220
Retained earnings	3,700,507		3,670,543	3,640,228
Accumulated other comprehensive loss	612,093		609,625	635,292
Total Flowserve Corporation shareholders’ equity	1,759,504		1,730,991	1,671,922
Total equity	$ 1,791,233	$ 1,770,692	1,761,321	1,702,344	$ 1,646,210	$ 1,772,340
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]
Retirement obligations and other liabilities			516,087	541,721
Retained earnings			3,656,449	3,625,291
Accumulated other comprehensive loss			594,052	618,856
Total Flowserve Corporation shareholders’ equity			1,732,470	1,673,421
Total equity			1,762,800	1,703,843
Adjustments | Foreign Currency Transactions
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Retirement obligations and other liabilities			1,479	1,499
Retained earnings			14,094	14,937
Accumulated other comprehensive loss			15,573	(16,436)
Total Flowserve Corporation shareholders’ equity			(1,479)	(1,499)
Total equity			$ (1,479)	$ (1,499)

Revision to Previously Report_5

Revision to Previously Reported Financial Information - Income Statement (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended			9 Months Ended		12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Other income (expense), net	$ (1,504)	$ (18,742)	$ 4,673	$ (20,717)	$ 23,969	$ 5,226
Earnings before income taxes	41,376	60,383	77,958	112,784	141,909	202,292
(Provision for) benefit from income taxes	10,433	(767)	(19,196)	3,929	(60,650)	(61,417)
Net earnings, including noncontrolling interests	51,809	59,616	58,762	116,713	81,259	140,875
Net earnings of Flowserve Corporation	$ 49,785	$ 56,051	$ 56,115	$ 109,218	$ 74,369	$ 130,420
Basic (in dollars per share)	$ 0.38	$ 0.43	$ 0.43	$ 0.84	$ 0.57	$ 1
Diluted (in dollars per share)	$ 0.38	$ 0.43	$ 0.43	$ 0.83	$ 0.57	$ 1
As Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Other income (expense), net		$ (17,811)	$ (963)		$ 7,558	$ (10,254)
Earnings before income taxes		61,314	72,322		125,498	186,812
(Provision for) benefit from income taxes		(856)	(18,672)		(59,175)	(60,031)
Net earnings, including noncontrolling interests		60,458	53,650		66,323	126,781
Net earnings of Flowserve Corporation		$ 56,893	$ 51,003		$ 59,433	$ 116,326
Basic (in dollars per share)		$ 0.44	$ 0.39		$ 0.46	$ 0.89
Diluted (in dollars per share)		$ 0.43	$ 0.39		$ 0.45	$ 0.89
Adjustments | Foreign Currency Transactions
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Other income (expense), net		$ (931)	$ 5,636		$ 16,411	$ 15,480
Earnings before income taxes		(931)	5,636		16,411	15,480
(Provision for) benefit from 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

Revision to Previously Report_6

Revision to Previously Reported Financial Information - Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended		12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net earnings	$ 51,809	$ 59,616	$ 58,762	$ 116,713	$ 81,259	$ 140,875
Foreign currency translation adjustments, net of taxes	(15,561)	42,273	19,555	(12,452)	(57,456)	(15,183)
Other comprehensive income (loss), net of tax	(11,953)	25,665	18,620	(2,309)	(50,226)	(24,562)
Comprehensive income (loss), including noncontrolling interests	39,856	85,281	77,382	114,404	31,033	116,313
Comprehensive income (loss) attributable to Flowserve Corporation	$ 37,835	81,718	74,739	$ 106,750	23,371	105,088
As Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net earnings		60,458	53,650		66,323	126,781
Foreign currency translation adjustments, net of taxes		41,411	25,204		(41,022)	388
Other comprehensive income (loss), net of tax		24,803	24,269		(33,792)	(8,991)
Comprehensive income (loss), including noncontrolling interests		85,261	77,919		32,531	117,790
Comprehensive income (loss) attributable to Flowserve Corporation		81,698	75,276		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)		(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)

Revision to Previously Report_7

Revision to Previously Reported Financial Information - Cash Flows (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	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	$ 151,107	$ 114,251
Net cash flows provided (used) by investing activities	(38,713)	(32,665)
Net cash flows provided (used) by financing activities	272,344	178,855
Cash and cash equivalents	$ 1,457,269	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		115,629
Net cash flows provided (used) by investing activities		(34,160)
Net cash flows provided (used) by financing activities		178,972
Cash and cash equivalents		921,178
Adjustments
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net cash flows provided (used) by operating activities		(1,378)
Net cash flows provided (used) by investing activities		1,495
Net cash flows provided (used) by financing activities		(117)
Cash and cash equivalents		$ 0

Revenue Recognition (Narrative)

Revenue Recognition (Narrative) (Details) - segments	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 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%	23.00%	15.00%	22.00%
Transferred at Point in Time
Disaggregation of Revenue [Line Items]
Revenue from products and services	85.00%	77.00%	85.00%	78.00%

Revenue Recognition (Disaggrega

Revenue Recognition (Disaggregation of revenue) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Disaggregation of Revenue [Line Items]
Sales	$ 866,118	$ 924,301	$ 2,621,604	$ 2,742,826
Original Equipment
Disaggregation of Revenue [Line Items]
Sales	425,248	479,423	1,266,617	1,393,598
Aftermarket
Disaggregation of Revenue [Line Items]
Sales	440,870	444,878	1,354,987	1,349,228
FPD
Disaggregation of Revenue [Line Items]
Sales	601,108	669,535	1,820,708	1,978,215
FPD | Original Equipment
Disaggregation of Revenue [Line Items]
Sales	223,358	280,951	657,910	805,150
FPD | Aftermarket
Disaggregation of Revenue [Line Items]
Sales	377,750	388,584	1,162,798	1,173,065
FCD
Disaggregation of Revenue [Line Items]
Sales	265,010	254,766	800,896	764,611
FCD | Original Equipment
Disaggregation of Revenue [Line Items]
Sales	201,890	198,472	608,707	588,448
FCD | Aftermarket
Disaggregation of Revenue [Line Items]
Sales	63,120	56,294	192,189	176,163
North America
Disaggregation of Revenue [Line Items]
Sales	325,984	341,717	981,929	1,108,674
North America | FPD
Disaggregation of Revenue [Line Items]
Sales	230,130	245,282	697,712	782,403
North America | FCD
Disaggregation of Revenue [Line Items]
Sales	95,854	96,435	284,217	326,271
Latin America
Disaggregation of Revenue [Line Items]
Sales	70,763	53,411	180,717	154,923
Latin America | FPD
Disaggregation of Revenue [Line Items]
Sales	63,443	47,346	157,703	136,443
Latin America | FCD
Disaggregation of Revenue [Line Items]
Sales	7,320	6,065	23,014	18,480
Middle East And Africa
Disaggregation of Revenue [Line Items]
Sales	95,567	112,375	302,005	354,635
Middle East And Africa | FPD
Disaggregation of Revenue [Line Items]
Sales	71,296	83,330	223,502	277,231
Middle East And Africa | FCD
Disaggregation of Revenue [Line Items]
Sales	24,271	29,045	78,503	77,404
Asia Pacific
Disaggregation of Revenue [Line Items]
Sales	201,691	218,063	613,314	577,742
Asia Pacific | FPD
Disaggregation of Revenue [Line Items]
Sales	117,424	151,227	361,450	391,796
Asia Pacific | FCD
Disaggregation of Revenue [Line Items]
Sales	84,267	66,836	251,864	185,946
Europe
Disaggregation of Revenue [Line Items]
Sales	172,113	198,735	543,639	546,852
Europe | FPD
Disaggregation of Revenue [Line Items]
Sales	118,815	142,350	380,341	390,342
Europe | FCD
Disaggregation of Revenue [Line Items]
Sales	$ 53,298	$ 56,385	$ 163,298	$ 156,510

Revenue Recognition (Performanc

Revenue Recognition (Performance obligations) (Details) $ in Millions	Sep. 30, 2021USD ($)
Revenue from Contract with Customer [Abstract]
Revenue, remaining performance obligation, amount	$ 493
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-10-01
Revenue from Contract with Customer [Abstract]
Revenue, remaining performance obligation, amount	$ 145
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, period	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-01
Revenue from Contract with Customer [Abstract]
Revenue, remaining performance obligation, amount	$ 348
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, period	1 year

Revenue Recognition (Contract L

Revenue Recognition (Contract Liabilities) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 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	(9,379)	$ 22,468
Amounts transferred from contract assets to receivables	35,358	(37,328)
Contract Assets, Ending balance	235,917	310,130
Contract Liabilities, Current, Ending balance	199,103	198,380
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	539,813	654,967
Billings arising during the period in excess of revenue recognized	0	0
Amounts transferred from contract assets to receivables	(563,145)	(606,564)
Other contract asset, net	(18,485)	(11,187)
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	0	0
Billings arising during the period in excess of revenue recognized	0	0
Amounts transferred from contract assets to receivables	(61)	191
Other contract asset, net	(109)	(6,585)
Contract Assets, Ending balance	969	2,886
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	(137,305)	(159,376)
Revenue recognized in the period in excess of billings	0	0
Billings arising during the period in excess of revenue recognized	145,369	137,986
Amounts transferred from contract assets to receivables	0	0
Other contract liability, net	(3,188)	(1,325)
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	(1,198)
Revenue recognized in the period in excess of billings	0	0
Billings arising during the period in excess of revenue recognized	0	309
Amounts transferred from contract assets to receivables	0	0
Other contract liability, net	(40)	15
Contract Liabilities, Noncurrent, Ending balance	$ 782	$ 778

Allowance for Expected Credit_3

Allowance for Expected Credit Losses (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020	Dec. 31, 2019
Financing Receivable, Allowance for Credit Loss [Line Items]
Contract assets, allowance for credit loss as a percentage of assets	1.00%
Trade receivables
Beginning balance	$ 75,966	$ 76,061	$ 75,176	$ 53,412
Charges to cost and expenses, net of recoveries	4,234	11,300
Write-offs	(2,015)
Currency effects and other, net	(1,429)	4,379
Ending balance	75,966	76,061
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	(427)	58
Ending balance	2,778	3,043
Long-term Receivables
Beginning balance	67,842	68,555
Currency effects and other, net	(145)	(730)
Ending balance	67,697	67,146
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		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 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)	11,312,201		11,312,201
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	$ 30.5		$ 30.5		$ 18.7
Nonvested awards, compensation cost not yet recognized, period for recognition			1 year
Equity instruments other than options, vested in period, fair value	0.2	$ 4.9	$ 24.6	$ 25.9
Allocated share-based compensation expense, net of tax	5.5	4.3	18.2	18.7
Allocated share-based compensation expense	$ 7.1	$ 5.6	$ 23.6	$ 24.1
Equity instruments other than options, nonvested, number (in shares)	1,685,297		1,685,297		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)	511,000		511,000
Total shareholder return performance measure, as a percentage	15.00%		15.00%
Estimated vesting of shares based on performance shares (in shares)	483,000		483,000
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)	1,064,000		1,064,000
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	9 Months Ended
	Sep. 30, 2021$ / sharesshares
Shares
Outstanding, Shares, Beginning balance (in shares) | shares	1,373,657
Granted, Shares (in shares) | shares	1,000,997
Vested, Shares (in shares) | shares	(555,708)
Forfeited, Shares (in shares) | shares	(133,649)
Outstanding, Shares, Ending balance (in shares) | shares	1,685,297
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	47.19
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	9 Months Ended
	Sep. 30, 2021USD ($)	Sep. 30, 2021USD ($)	Sep. 30, 2021EUR (€)	Dec. 31, 2020USD ($)	Sep. 22, 2020EUR (€)	Mar. 31, 2015EUR (€)
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 | $	$ (2.3)	$ (5)
Not Designated as Hedging Instrument | Forward Exchange Contract
Derivative [Line Items]
Derivative, notional amount | $	$ 361.3	$ 361.3		$ 388.1
Minimum remaining maturity of foreign currency derivatives		20 days
Maximum remaining maturity of foreign currency derivatives		24 months

Derivative Instruments and He_4

Derivative Instruments and Hedges (Fair Value Balance Sheet Disclosures) (Details) - Not Designated as Hedging Instrument - Foreign Exchange Contract - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Derivative [Line Items]
Current derivative assets	$ 2,533	$ 2,857
Noncurrent derivative assets	0	249
Current derivative liabilities	4,800	682
Noncurrent derivative liabilities	$ 99	$ 0

Derivative Instruments and He_5

Derivative Instruments and Hedges (Fair Value of Forward Exchange Contracts) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Forward Contracts
Derivative [Line Items]
(Losses) gains recognized in income	$ (75)	$ (2,293)	$ 1,718	$ (2,354)

Derivative Instruments and He_6

Derivative Instruments and Hedges (Cross Currency Swap) (Details) - Currency Swap - Net Investment Hedging - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Loss (gain) - included component	$ (8,869)	$ (112)	$ (8,684)	$ (112)
(Gain) loss - excluded component	(3,647)	2,514	243	2,514
(Gain) loss recognized in AOCL	(12,516)	$ 2,402	(8,441)	$ 2,402
Fair Value, Inputs, Level 2
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Noncurrent derivative assets	15,513		15,513		$ 0
Retirement obligations and other liabilities	$ 4,476		$ 4,476		$ 18,091

Derivative Instruments and He_7

Derivative Instruments and Hedges (Remeasurement) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Net Investment Hedging
Derivative [Line Items]
Loss recognized in AOCL	$ 0	$ 9,709	$ 29,554	$ 22,128

Debt (Schedule of Debt) (Detail

Debt (Schedule of Debt) (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Finance lease obligations and other borrowings	$ 23,420	$ 25,390
Debt and finance lease obligations	2,108,864	1,726,906
Less amounts due within one year	836,618	8,995
Total debt due after one year	$ 1,272,246	$ 1,717,911
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	$ 702	$ 1,235
Long-term debt	$ 499,298	$ 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	$ 1,009	$ 1,345
Long-term debt	$ 298,991	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	$ 5,746	6,147
Long-term debt	$ 494,254	493,853
2032 USD Senior Notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)	0.028%
Debt instrument, unamortized discount (premium) and debt issuance costs, net	$ 6,407
Long-term debt	$ 493,593	0
Term Loan Facility
Debt Instrument [Line Items]
Stated interest rate (as a percent)	1.36%
Debt issuance costs, net	$ 692
Long-term debt	$ 299,308	$ 0

Debt (Details Textual)

Debt (Details Textual) - USD ($)	Sep. 13, 2021	Mar. 19, 2021	Oct. 27, 2021	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2022	Sep. 23, 2021	Dec. 31, 2020
Line of Credit Facility [Line Items]
Loss on extinguishment of debt				$ 563,000	$ 1,201,000	$ 8,173,000	$ 1,201,000
Subsequent Event
Line of Credit Facility [Line Items]
Loss on extinguishment of debt			$ 38,000,000
Make whole premium			$ 36,100,000
2032 USD Senior Notes
Line of Credit Facility [Line Items]
Stated interest rate (as a percent)				0.028%		0.028%
2032 USD Senior Notes | Senior Notes
Line of Credit Facility [Line Items]
Debt Instrument, face amount									$ 500,000,000
Stated interest rate (as a percent)									2.80%
Percentage of par value									99.656%
2022 EUR Senior Notes
Line of Credit Facility [Line Items]
Stated interest rate (as a percent)				1.25%		1.25%				1.25%
Loss on extinguishment of debt		$ 7,600,000			1,200,000
Make whole premium		6,600,000
Repayment of debt		$ 400,900,000			$ 191,400,000
2022 EUR Senior Notes | Senior Notes
Line of Credit Facility [Line Items]
Stated interest rate (as a percent)									3.50%
2023 Senior notes
Line of Credit Facility [Line Items]
Stated interest rate (as a percent)				4.00%		4.00%				4.00%
2023 Senior notes | Senior Notes
Line of Credit Facility [Line Items]
Stated interest rate (as a percent)									4.00%
Term Loan Facility
Line of Credit Facility [Line Items]
Stated interest rate (as a percent)				1.36%		1.36%
Line of credit facility, maximum borrowing capacity	$ 300,000,000
Amount drawn	300,000,000
Term Loan Facility | Forecast
Line of Credit Facility [Line Items]
Periodic payment								$ 7,500,000
Revolving Credit Facility | Senior Credit Facility
Line of Credit Facility [Line Items]
Loss on extinguishment of debt				$ 600,000
Line of credit facility, maximum borrowing capacity	800,000,000
Amount drawn				0		$ 0				$ 0
Line of credit, commitment fee (as a percentage)						0.175%
Line of credit facility, current borrowing capacity				708,600,000		$ 708,600,000				741,900,000
Letter of Credit | Senior Credit Facility
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	750,000,000
Letters of credit outstanding				$ 80,400,000		$ 80,400,000				$ 58,100,000
Swing Line Loans | Senior Credit Facility
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 30,000,000
LIBOR | Revolving Credit Facility | Senior Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate						1.375%
Base Rate | Revolving Credit Facility | Senior Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate						0.375%
Minimum | Revolving Credit Facility | Senior Credit Facility
Line of Credit Facility [Line Items]
Line of credit, commitment fee (as a percentage)	0.08%
Minimum | LIBOR | Term Loan Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.875%
Minimum | LIBOR | Revolving Credit Facility | Senior Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.00%
Minimum | Base Rate | Term Loan Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.00%
Minimum | Base Rate | Revolving Credit Facility | Senior Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.00%
Maximum | Revolving Credit Facility | Senior Credit Facility
Line of Credit Facility [Line Items]
Line of credit, commitment fee (as a percentage)	0.25%
Maximum | LIBOR | Term Loan Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.625%
Maximum | LIBOR | Revolving Credit Facility | Senior Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.75%
Maximum | Base Rate | Term Loan Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.625%
Maximum | Base Rate | Revolving Credit Facility | Senior Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.75%

Fair Value (Details)

Fair Value (Details) $ in Millions	Sep. 30, 2021USD ($)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	$ 1,786.1
Estimate of Fair Value Measurement
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	$ 1,850.5

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Net Components of Inventory
Raw materials	$ 329,609	$ 321,600
Work in process	263,545	210,174
Finished goods	199,876	221,532
Less: Excess and obsolete reserve	(94,984)	(86,078)
Inventories, net	$ 698,046	$ 667,228

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended			9 Months Ended		12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Earnings Per Share [Abstract]
Net earnings of Flowserve Corporation	$ 49,785	$ 56,051	$ 56,115	$ 109,218	$ 74,369	$ 130,420
Dividends on restricted shares not expected to vest	0		0	0	0
Earnings attributable to common and participating shareholders	$ 49,785		$ 56,115	$ 109,218	$ 74,369
Weighted average shares:
Common stock (in shares)	130,210		130,292	130,298	130,390
Participating securities (in shares)	32		21	27	23
Denominator for basic earnings per common share (in shares)	130,242		130,313	130,325	130,413
Effect of potentially dilutive securities (in shares)	547		587	542	655
Denominator for diluted earnings per common share (in shares)	130,789		130,900	130,867	131,068
Earnings per common share:
Basic (in dollars per share)	$ 0.38	$ 0.43	$ 0.43	$ 0.84	$ 0.57	$ 1
Diluted (in dollars per share)	$ 0.38	$ 0.43	$ 0.43	$ 0.83	$ 0.57	$ 1

Legal Matters and Contingenci_3

Legal Matters and Contingencies (Details) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2021USD ($)claim	Sep. 30, 2020USD ($)claim	Sep. 30, 2021USD ($)claim	Sep. 30, 2020USD ($)claim	Dec. 31, 2020claim
Liability for Asbestos and Environmental Claims, Net [Roll Forward]
Beginning claims	8,559	8,100	8,366	8,345	8,345
Beginning claims			8,366	8,345	8,345
New claims	625	635	1,857	1,672	2,140
Resolved claims	(645)	(398)	(1,668)	(1,706)	(2,203)
Other	82	9	66	35	84
Ending claims	8,621	8,346	8,621	8,346	8,366
Ending claims	8,621	8,346	8,621	8,346	8,366
Loss contingency expense | $	$ 5.6	$ 2.4	$ 10.1	$ 9
Payments For (Proceeds From) Insurance Settlements | $			$ (1.2)	$ (5)

Retirement and Postretirement_3

Retirement and Postretirement Benefits (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Domestic Plan
Components of the net periodic cost for retirement and postretirement benefits
Service cost	$ 6.3	$ 6.4	$ 18.9	$ 19.4
Interest cost	2.9	3.8	8.9	11.3
Expected return on plan assets	(6.3)	(6.4)	(19)	(19.3)
Amortization of prior service cost	0	0	0.1	0.1
Amortization of unrecognized net loss (gain)	1.9	1.7	5.8	5.2
Net periodic cost recognized	4.8	5.5	14.7	16.7
Foreign Plan
Components of the net periodic cost for retirement and postretirement benefits
Service cost	1.8	2	5.5	5.4
Interest cost	1.3	1.8	4.1	5
Expected return on plan assets	(1.5)	(1.4)	(4.6)	(3.8)
Amortization of prior service cost	0	0.1	0.2	0.2
Amortization of unrecognized net loss (gain)	1.1	1.2	3.3	3.3
Net periodic cost recognized	2.7	3.7	8.5	10.1
Postretirement Medical Benefits
Components of the net periodic cost for retirement and postretirement benefits
Service cost	0	0	0	0
Interest cost	0.1	0.1	0.3	0.4
Expected return on plan assets	0	0	0	0
Amortization of prior service cost	0	0	0.1	0.1
Amortization of unrecognized net loss (gain)	0	0	0	(0.1)
Net periodic cost recognized	$ 0.1	$ 0.1	$ 0.4	$ 0.4

Shareholders' Equity (Details)

Shareholders' Equity (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2014
Equity, Class of Treasury Stock [Line Items]
Cash dividends declared per share (in dollars per share)	$ 0.20	$ 0.20	$ 0.60	$ 0.60
Repurchase of shares (in shares)	0	0	440,000	1,057,115
Treasury Stock, Value, Acquired, Cost Method			$ 17,500,000	$ 32,100,000
Remaining authorized repurchase capacity	$ 96,100,000		$ 96,100,000
Share repurchase program 2014
Equity, Class of Treasury Stock [Line Items]
Authorized amount to be repurchased					$ 500,000,000

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended		12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income before income tax	$ 41,376	$ 60,383	$ 77,958	$ 112,784	$ 141,909	$ 202,292
Income tax expense	$ (10,433)	$ 767	$ 19,196	$ (3,929)	$ 60,650	$ 61,417
Effective tax rate (as a percent)	(25.20%)		24.60%	(3.50%)	42.70%
Unrecognized tax benefits, period decrease				$ 2,000
Unrecognized tax benefits approximate amount of estimated reduction within the next twelve months	$ 12,000			$ 12,000

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Summarized financial information of the reportable segments
Sales	$ 866,118	$ 924,301	$ 2,621,604	$ 2,742,826
Segment operating income	57,362	87,322	185,628	154,977
Operating Segments
Summarized financial information of the reportable segments
Sales	866,118	924,301	2,621,604	2,742,826
Intersegment sales	1,845	1,128	3,674	3,990
Segment operating income	86,814	117,412	270,383	260,900
Intersegment sales
Summarized financial information of the reportable segments
Intersegment sales	(1,845)	(1,128)	(3,674)	(3,990)
Segment operating income	(29,452)	(30,090)	(84,755)	(105,923)
FPD
Summarized financial information of the reportable segments
Sales	601,108	669,535	1,820,708	1,978,215
FPD | Operating Segments
Summarized financial information of the reportable segments
Sales	601,108	669,535	1,820,708	1,978,215
Intersegment sales	731	673	1,463	1,710
Segment operating income	59,071	86,660	180,698	186,740
FCD
Summarized financial information of the reportable segments
Sales	265,010	254,766	800,896	764,611
FCD | Operating Segments
Summarized financial information of the reportable segments
Sales	265,010	254,766	800,896	764,611
Intersegment sales	1,114	455	2,211	2,280
Segment operating income	$ 27,743	$ 30,752	$ 89,685	$ 74,160

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Components of AOCI) (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended		12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2019
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	$ (594,004)	$ (629,424)	$ (648,044)	$ (603,648)	$ (579,198)	$ (579,198)
Other comprehensive income (loss) before reclassifications	(14,608)		15,949	(10,478)	(57,848)
Amounts reclassified from AOCL	2,655		2,671	8,169	7,622
Other comprehensive income (loss)	(11,953)	25,665	18,620	(2,309)	(50,226)	(24,562)
Ending balance	(605,957)	(603,648)	(629,424)	(605,957)	(629,424)	(603,648)
Foreign currency translation items
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(453,328)	(498,822)	(518,377)	(456,437)	(441,366)	(441,366)
Other comprehensive income (loss) before reclassifications	(15,561)		19,555	(12,452)	(57,456)
Amounts reclassified from AOCL	0		0	0	0
Other comprehensive income (loss)	(15,561)		19,555	(12,452)	(57,456)
Ending balance	(468,889)	(456,437)	(498,822)	(468,889)	(498,822)	(456,437)
Pension and other post-retirement effects
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(140,405)	(130,070)	(129,094)	(146,723)	(137,161)	(137,161)
Other comprehensive income (loss) before reclassifications	2,300		(3,647)	3,104	(531)
Amounts reclassified from AOCL	2,655		2,671	8,169	7,622
Other comprehensive income (loss)	4,955		(976)	11,273	7,091
Ending balance	(135,450)	(146,723)	(130,070)	(135,450)	(130,070)	(146,723)
Cash flow hedging activity
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(271)	(532)	(573)	(488)	(671)	(671)
Other comprehensive income (loss) before reclassifications	(1,347)		41	(1,130)	139
Amounts reclassified from AOCL	0		0	0	0
Other comprehensive income (loss)	(1,347)		41	(1,130)	139
Ending balance	(1,618)	(488)	(532)	(1,618)	(532)	(488)
Non- controlling Interests
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Other comprehensive income (loss)	(3)		(4)	159	772
Accumulated other comprehensive income (loss), foreign currency translation adjustment, net of tax	$ 6,100	$ 5,900	$ 5,800	$ 6,100	$ 5,800	$ 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		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net of tax	$ (2,655)	$ (2,671)	$ (8,169)	$ (7,622)
Amortization of actuarial losses
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Reclassification	(2,978)	(2,942)	(9,126)	(8,456)
Prior service costs
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Reclassification	(149)	(150)	(457)	(429)
Pension and other post-retirement effects
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Tax benefit	472	421	1,414	1,263
Net of tax	$ (2,655)	$ (2,671)	$ (8,169)	$ (7,622)

Realignment Programs (Details)

Realignment Programs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		18 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	$ 1,875	$ 6,047	$ 9,045	$ 19,334
Non-Restructuring Charges	1,075	1,384	13,221	52,983
Total Realignment Charges	2,950	12,177	22,266	88,324
Total Realignment Program Charges		7,431		72,317
Transformation Charges		4,746		16,007
Restructuring Reserve [Roll Forward]
Beginning Balance			18,255	6,703
Charges, net of adjustments	1,875	6,047	9,045	19,334
Cash expenditures			(16,999)	(4,772)
Other non-cash adjustments, including currency			(1,039)	425
Ending Balance	6,640	20,342	6,640	20,342	$ 6,640
Subtotal–Reportable Segments
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	1,875	6,047	9,045	19,334
Non-Restructuring Charges	454	1,016	7,815	36,573
Total Realignment Charges	2,329	7,063	16,860	55,907
Total Realignment Program Charges		7,063		55,907
Transformation Charges		0		0
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	1,875	6,047	9,045	19,334
Eliminations and All Other
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	0	0	0	0
Non-Restructuring Charges	621	368	5,406	16,410
Total Realignment Charges	621	5,114	5,406	32,417
Total Realignment Program Charges		368		16,410
Transformation Charges		4,746		16,007
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	0	0	0	0
Severance
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	(371)	4,688	1,016	17,187
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	(371)	4,688	1,016	17,187
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	1,282	334	2,623	1,347
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	1,282	334	2,623	1,347
Other
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	964	1,025	5,406	800
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	964	1,025	5,406	800
Charges Expected to be Settled in Cash
Restructuring Cost and Reserve [Line Items]
Restructuring Charges			6,423	17,986
Restructuring Reserve [Roll Forward]
Charges, net of adjustments			6,423	17,986
Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	1,844	6,059	8,357	19,118
Non-Restructuring Charges	738	(401)	7,456	21,518
Total Realignment Charges	2,582	5,658	15,813	40,636
Total Realignment Program Charges		5,658		40,636
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	1,844	6,059	8,357	19,118
Cost of Sales | Subtotal–Reportable Segments
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	1,844	6,059	8,357	19,118
Non-Restructuring Charges	738	(156)	6,866	21,215
Total Realignment Charges	2,582	5,903	15,223	40,333
Total Realignment Program Charges		5,903		40,333
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	1,844	6,059	8,357	19,118
Cost of Sales | Eliminations and All Other
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	0	0	0	0
Non-Restructuring Charges	0	(245)	590	303
Total Realignment Charges	0	(245)	590	303
Total Realignment Program Charges		(245)		303
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	0	0	0	0
Cost of Sales | Severance
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	(371)	4,704	848	16,959
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	(371)	4,704	848	16,959
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	1,282	331	2,623	1,322
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	1,282	331	2,623	1,322
Cost of Sales | Other
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	933	1,024	4,886	837
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	933	1,024	4,886	837
Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	31	(12)	688	216
Non-Restructuring Charges	337	1,785	5,765	31,465
Total Realignment Charges	368	6,519	6,453	47,688
Total Realignment Program Charges		1,773		31,681
Transformation Charges		4,746		16,007
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	31	(12)	688	216
Selling, General and Administrative Expenses | Subtotal–Reportable Segments
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	31	(12)	688	216
Non-Restructuring Charges	(284)	1,172	949	15,358
Total Realignment Charges	(253)	1,160	1,637	15,574
Total Realignment Program Charges		1,160		15,574
Transformation Charges		0		0
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	31	(12)	688	216
Selling, General and Administrative Expenses | Eliminations and All Other
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	0	0	0	0
Non-Restructuring Charges	621	613	4,816	16,107
Total Realignment Charges	621	5,359	4,816	32,114
Total Realignment Program Charges		613		16,107
Transformation Charges		4,746		16,007
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	0	(16)	168	228
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	0	(16)	168	228
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	25
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	0	3	0	25
Selling, General and Administrative Expenses | Other
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	31	1	520	(37)
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	31	1	520	(37)
FPD
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	1,697	5,459	8,407	19,021
Non-Restructuring Charges	324	2,307	6,269	24,238
Total Realignment Charges	2,021	7,766	14,676	43,259
Total Realignment Program Charges		7,766		43,259
Transformation Charges		0		0
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	1,697	5,459	8,407	19,021
FPD | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	1,659	5,469	7,702	18,800
Non-Restructuring Charges	614	1,210	6,064	13,339
Total Realignment Charges	2,273	6,679	13,766	32,139
Total Realignment Program Charges		6,679		32,139
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	1,659	5,469	7,702	18,800
FPD | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	38	(10)	705	221
Non-Restructuring Charges	(290)	1,097	205	10,899
Total Realignment Charges	(252)	1,087	910	11,120
Total Realignment Program Charges		1,087		11,120
Transformation Charges		0		0
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	38	(10)	705	221
FCD
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	178	588	638	313
Non-Restructuring Charges	130	(1,291)	1,546	12,335
Total Realignment Charges	308	(703)	2,184	12,648
Total Realignment Program Charges		(703)		12,648
Transformation Charges		0		0
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	178	588	638	313
FCD | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	185	590	655	318
Non-Restructuring Charges	124	(1,366)	802	7,876
Total Realignment Charges	309	(776)	1,457	8,194
Total Realignment Program Charges		(776)		8,194
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	185	590	655	318
FCD | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	(7)	(2)	(17)	(5)
Non-Restructuring Charges	6	75	744	4,459
Total Realignment Charges	(1)	73	727	4,454
Total Realignment Program Charges		73		4,454
Transformation Charges		0		0
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	(7)	$ (2)	(17)	$ (5)
Flowserve 2.0 Transformation
Restructuring Cost and Reserve [Line Items]
Expected cost	$ 95,000		$ 95,000		95,000
Restructuring Charges					28,478
Non-Restructuring Charges					65,121
Total Realignment Charges					93,599
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					28,478
Flowserve 2.0 Transformation | Subtotal–Reportable Segments
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					28,478
Non-Restructuring Charges					41,781
Total Realignment Charges					70,259
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					28,478
Flowserve 2.0 Transformation | Eliminations and All Other
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					0
Non-Restructuring Charges					23,340
Total Realignment Charges					23,340
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					0
Flowserve 2.0 Transformation | Severance
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					16,344
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					16,344
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					4,049
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					4,049
Flowserve 2.0 Transformation | Other
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					8,033
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					8,033
Flowserve 2.0 Transformation | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					27,413
Non-Restructuring Charges					26,238
Total Realignment Charges					53,651
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					27,413
Flowserve 2.0 Transformation | Cost of Sales | Subtotal–Reportable Segments
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					27,413
Non-Restructuring Charges					25,596
Total Realignment Charges					53,009
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					27,413
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					16,092
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					16,092
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					4,035
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					4,035
Flowserve 2.0 Transformation | Cost of Sales | Other
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					7,234
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					7,234
Flowserve 2.0 Transformation | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					1,065
Non-Restructuring Charges					38,883
Total Realignment Charges					39,948
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					1,065
Flowserve 2.0 Transformation | Selling, General and Administrative Expenses | Subtotal–Reportable Segments
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					1,065
Non-Restructuring Charges					16,185
Total Realignment Charges					17,250
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					1,065
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					22,698
Total Realignment Charges					22,698
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					799
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					799
Flowserve 2.0 Transformation | FPD
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					26,287
Non-Restructuring Charges					36,153
Total Realignment Charges					62,440
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					26,287
Flowserve 2.0 Transformation | FPD | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					25,531
Non-Restructuring Charges					25,267
Total Realignment Charges					50,798
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					25,531
Flowserve 2.0 Transformation | FPD | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					756
Non-Restructuring Charges					10,886
Total Realignment Charges					11,642
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					756
Flowserve 2.0 Transformation | FCD
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					2,191
Non-Restructuring Charges					5,628
Total Realignment Charges					7,819
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					2,191
Flowserve 2.0 Transformation | FCD | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					1,882
Non-Restructuring Charges					329
Total Realignment Charges					2,211
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					1,882
Flowserve 2.0 Transformation | FCD | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					309
Non-Restructuring Charges					5,299
Total Realignment Charges					5,608
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					$ 309

Uncategorized Items - fls-20210

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