Flowserve (FLS) 10-Q 27 Jul 22 2022 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2022	Jul. 22, 2022
Cover [Abstract]
Entity Central Index Key	0000030625
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
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		130,693,455

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Statement [Abstract]
Sales	$ 882,222	$ 898,178	$ 1,703,280	$ 1,755,486
Cost of sales	(632,393)	(619,940)	(1,243,803)	(1,226,348)
Gross profit	249,829	278,238	459,477	529,138
Selling, general and administrative expense	(194,606)	(210,789)	(400,816)	(409,104)
Gain on sale of business	0	1,806	0	1,806
Net earnings from affiliates	5,109	2,907	9,039	6,425
Operating income	60,332	72,162	67,700	128,265
Interest expense	(11,062)	(14,322)	(21,755)	(31,101)
Loss on extinguishment of debt			0	(7,610)
Interest income	854	465	1,797	1,067
Other income (expense), net	7,589	(7,850)	(524)	(19,213)
Earnings before income taxes	57,713	50,455	47,218	71,408
Provision for income taxes	(11,618)	(2,711)	(14,800)	(6,503)
Net earnings, including noncontrolling interests	46,095	47,744	32,418	64,905
Less: Net earnings attributable to noncontrolling interests	(1,318)	(2,390)	(3,458)	(5,471)
Net earnings attributable to Flowserve Corporation	$ 44,777	$ 45,354	$ 28,960	$ 59,434
Net earnings per share attributable to Flowserve Corporation common shareholders:
Basic (in dollars per share)	$ 0.34	$ 0.35	$ 0.22	$ 0.46
Diluted (in dollars per share)	$ 0.34	$ 0.35	$ 0.22	$ 0.45
Weighted average shares - basic (in shares)	130,666,000	130,305,000	130,554,000	130,366,000
Weighted average shares - diluted (in shares)	131,245,000	130,804,000	131,148,000	130,905,000

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Net earnings, including noncontrolling interests	$ 46,095	$ 47,744	$ 32,418	$ 64,905
Other comprehensive income (loss):
Foreign currency translation adjustments, net of taxes	(64,160)	13,998	(80,904)	3,109
Pension and other postretirement effects, net of taxes	6,570	2,059	10,157	6,318
Cash flow hedging activity, net of taxes	29	15	58	217
Other comprehensive income (loss)	(57,561)	16,072	(70,689)	9,644
Comprehensive income (loss), including noncontrolling interests	(11,466)	63,816	(38,271)	74,549
Comprehensive (income) loss attributable to noncontrolling interests	(1,321)	(2,403)	(4,798)	(5,633)
Comprehensive income (loss) attributable to Flowserve Corporation	$ (12,787)	$ 61,413	$ (43,069)	$ 68,916

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Foreign currency translation, taxes	$ (7,299)	$ (6,401)	$ (20,605)	$ (5,747)
Pension and other postretirement effects, taxes	(457)	(472)	(711)	(942)
Cash flow hedging activity, taxes	$ (9)	$ (5)	$ (18)	$ (67)

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 458,345	$ 658,452
Accounts receivable, net of allowance for expected credit losses of $78,776 and $74,336, respectively	735,895	739,210
Contract assets, net of allowance for expected credit losses of $3,704 and $2,393, respectively	197,128	195,598
Inventories, net	748,920	678,287
Prepaid expenses and other	140,639	117,130
Total current assets	2,280,927	2,388,677
Property, plant and equipment, net of accumulated depreciation of $1,150,876 and $1,191,823, respectively	487,299	515,927
Operating lease right-of-use assets, net	178,974	193,863
Goodwill	1,162,514	1,196,479
Deferred taxes	34,582	44,049
Other intangible assets, net	139,786	152,463
Other assets, net of allowance for expected credit losses of $67,968 and $67,696, respectively	298,650	258,310
Total assets	4,582,732	4,749,768
Current liabilities:
Accounts payable	433,508	410,062
Accrued liabilities	374,575	445,092
Contract liabilities	205,175	202,965
Debt due within one year	46,306	41,058
Operating lease liabilities	32,153	32,628
Total current liabilities	1,091,717	1,131,805
Long-term debt due after one year	1,241,636	1,261,770
Operating lease liabilities	153,580	166,786
Retirement obligations and other liabilities	341,906	352,062
Commitments and contingencies (See Note 10)
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	500,013	506,386
Retained earnings	3,666,935	3,691,023
Treasury shares, at cost – 46,377 and 46,794 shares, respectively	(2,037,839)	(2,057,706)
Deferred compensation obligation	6,921	7,214
Accumulated other comprehensive loss	(635,618)	(563,589)
Total Flowserve Corporation shareholders’ equity	1,721,403	1,804,319
Noncontrolling interests	32,490	33,026
Total equity	1,753,893	1,837,345
Total liabilities and equity	$ 4,582,732	$ 4,749,768

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Current assets:
Allowance for doubtful accounts	$ 78,776	$ 74,336
Contract asset, allowance for doubtful accounts	3,704	2,393
Accumulated depreciation on property, plant and equipment	1,150,876	1,191,823
Other assets, allowance for credit loss	$ 67,968	$ 67,696
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)	46,377	46,794

Condensed Consolidated Statem_4

Condensed Consolidated Statement of Shareholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Capital in Excess of Par Value	Retained Earnings	Treasury Stock	Deferred Compensation Obligation	Accumulated Other Comprehensive Income (Loss)	Non- controlling Interests
Balance — (in shares) at Dec. 31, 2020		176,793			46,768
Balance — at Dec. 31, 2020	$ 1,761,321	$ 220,991	$ 502,227	$ 3,670,543	$ (2,059,309)	$ 6,164	$ (609,625)	$ 30,330
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock activity under stock plans (in shares)					402
Stock activity under stock plans	(5,004)		(24,478)		$ 18,561	913
Stock-based compensation	16,472		16,472
Net earnings	64,905			59,434				5,471
Cash dividends declared	(52,860)			(52,860)
Repurchases of common shares (in shares)					(440)
Repurchases of common shares	(17,531)				$ (17,531)
Other comprehensive income (loss), net of tax	9,644						9,482	162
Other, net	(6,255)							(6,255)
Balance — (in shares) at Jun. 30, 2021		176,793			46,806
Balance — at Jun. 30, 2021	1,770,692	$ 220,991	494,221	3,677,117	$ (2,058,279)	7,077	(600,143)	29,708
Balance — (in shares) at Mar. 31, 2021		176,793			46,496
Balance — at Mar. 31, 2021	1,741,786	$ 220,991	488,906	3,658,158	$ (2,045,937)	6,114	(616,200)	29,754
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock activity under stock plans (in shares)					1
Stock activity under stock plans	(327)		(1,397)		$ 107	963
Stock-based compensation	6,712		6,712
Net earnings	47,744			45,354				2,390
Cash dividends declared	(26,395)			(26,395)
Repurchases of common shares (in shares)					(311)
Repurchases of common shares	(12,449)				$ (12,449)
Other comprehensive income (loss), net of tax	16,072						16,058	14
Other, net	(2,451)						(1)	(2,450)
Balance — (in shares) at Jun. 30, 2021		176,793			46,806
Balance — at Jun. 30, 2021	$ 1,770,692	$ 220,991	494,221	3,677,117	$ (2,058,279)	7,077	(600,143)	29,708
Balance — (in shares) at Dec. 31, 2021	176,793	176,793			46,794
Balance — at Dec. 31, 2021	$ 1,837,345	$ 220,991	506,386	3,691,023	$ (2,057,706)	7,214	(563,589)	33,026
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock activity under stock plans (in shares)					417
Stock activity under stock plans	(3,696)		(23,270)		$ 19,867	(293)
Stock-based compensation	16,897		16,897
Net earnings	32,418			28,960				3,458
Cash dividends declared	(53,048)			(53,048)
Other comprehensive income (loss), net of tax	(70,689)						(72,029)	1,340
Other, net	$ (5,334)							(5,334)
Balance — (in shares) at Jun. 30, 2022	176,793	176,793			46,377
Balance — at Jun. 30, 2022	$ 1,753,893	$ 220,991	500,013	3,666,935	$ (2,037,839)	6,921	(635,618)	32,490
Balance — (in shares) at Mar. 31, 2022		176,793			46,424
Balance — at Mar. 31, 2022	1,791,055	$ 220,991	496,151	3,648,678	$ (2,039,900)	7,122	(578,053)	36,066
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock activity under stock plans (in shares)					47
Stock activity under stock plans	(164)		(2,024)		$ 2,061	(201)
Stock-based compensation	5,886		5,886
Net earnings	46,095			44,777				1,318
Cash dividends declared	(26,520)			(26,520)
Other comprehensive income (loss), net of tax	(57,561)						(57,565)	4
Other, net	$ (4,898)							(4,898)
Balance — (in shares) at Jun. 30, 2022	176,793	176,793			46,377
Balance — at Jun. 30, 2022	$ 1,753,893	$ 220,991	$ 500,013	$ 3,666,935	$ (2,037,839)	$ 6,921	$ (635,618)	$ 32,490

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash flows – Operating activities:
Net earnings, including noncontrolling interests	$ 32,418	$ 64,905
Adjustments to reconcile net earnings to net cash provided (used) by operating activities:
Depreciation	40,034	44,491
Amortization of intangible and other assets	6,748	7,433
Loss on extinguishment of debt	0	7,610
Stock-based compensation	16,896	16,472
Foreign currency, asset write downs and other non-cash adjustments	(3,982)	12,460
Change in assets and liabilities:
Accounts receivable, net	(21,638)	14,285
Inventories, net	(96,737)	(30,784)
Contract assets, net	(7,705)	12,232
Prepaid expenses and other assets, net	(19,769)	(16,187)
Accounts payable	33,550	(41,146)
Contract liabilities	9,642	17,026
Accrued liabilities and income taxes payable	(65,773)	(37,123)
Retirement obligations and other	10,028	(2,761)
Net deferred taxes	(5,079)	(7,607)
Net cash flows provided (used) by operating activities	(71,367)	61,306
Cash flows – Investing activities:
Capital expenditures	(31,012)	(22,541)
Proceeds from disposal of assets and other	2,015	(1,299)
Net cash flows provided (used) by investing activities	(28,997)	(23,840)
Cash flows – Financing activities:
Payments on senior notes	0	(407,473)
Payments on term loan	(15,921)	0
Proceeds under other financing arrangements	1,029	1,386
Payments under other financing arrangements	(720)	(3,256)
Repurchases of common shares	0	(17,531)
Payments related to tax withholding for stock-based compensation	(4,497)	(5,777)
Payments of dividends	(52,267)	(52,168)
Other	(5,334)	(6,275)
Net cash flows provided (used) by financing activities	(77,710)	(491,094)
Effect of exchange rate changes on cash	(22,033)	(11,249)
Net change in cash and cash equivalents	(200,107)	(464,877)
Cash and cash equivalents at beginning of period	658,452	1,095,274
Cash and cash equivalents at end of period	$ 458,345	$ 630,397

Basis of Presentation and Accou

Basis of Presentation and Accounting Policies	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation and Accounting Policies	Basis of Presentation and Accounting Policies Basis of Presentation The accompanying condensed consolidated balance sheet as of June 30, 2022 and December 31, 2021, and the related condensed consolidated statements of income, condensed consolidated statements of comprehensive income (loss), condensed consolidated statements of shareholders' equity for the three and six months ended June 30, 2022 and 2021 and condensed consolidated statements of cash flows for the six months ended June 30, 2022 and 2021 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 June 30, 2022 ("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, 2021 ("2021 Annual Report"). Coronavirus Pandemic ("COVID-19") - D uring the first six months of 2022, 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 to pre-pandemic levels, and although we are seeing momentum in project-based capital expenditures, such oil and gas business has yet to return to pre-pandemic levels. In addition, many of our suppliers have also experienced varying lengths of production and shipping delays related to the COVID-19 pandemic and its effects, some of which continue to exist in highly affected countries. These conditions have had an adverse effect on the speed at which we can manufacture and ship our products to customers, and have also led to an increase in logistics, transportation and freight costs. As a result of the macroeconomic impact of COVID-19 we have also experienced labor constraints and inflationary pressures. 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. Russia and Ukraine Conflict - In response to the ongoing military conflict in Ukraine, several countries, including the United States, have imposed economic sanctions and export controls on certain industry sectors and parties in Russia. As a result of this conflict, including the aforementioned sanctions and overall instability in the region, in February 2022 we stopped accepting new orders in Russia and temporarily suspended fulfillment of existing orders. In March 2022, we made the decision to permanently cease all Company operations in Russia. We have commenced the necessary actions to cease operations of our Russian subsidiary, including taking steps to cancel existing contracts with customers, terminate our approximately 50 Russia-based employees and terminate other related contractual commitments, and currently expect this process to continue throughout 2022. In 2021 our Russian subsidiary had approximately $14 million of sales with an additional $36 million of sales from certain of our other foreign subsidiaries into the Russian market. As of March 31, 2022, the net assets held on our Russian subsidiary's balance sheet were $2.7 million, including $7.1 million of cash, $3.6 million of accounts receivables, a $9.3 million net intercompany payable position and other immaterial amounts. In addition, certain of our other foreign subsidiaries had open contracts with Russian customers that were subsequently cancelled for which revenue had been previously recognized over time utilizing the percentage of completion ("POC") method. As a result of the above, in the first quarter of 2022 we recorded a $20.2 million pre-tax charge ($21.0 million after-tax) to reserve the asset positions of our Russian subsidiary (excluding cash) as of March 31, 2022, to record a contra-revenue for previously recognized revenue and estimated cancellation fees on open contracts that were previously accounted for under POC and subsequently canceled, to establish a reserve for the estimated cost to exit the operations of our Russian subsidiary and to record a reserve for our estimated financial exposure on contracts that have or are anticipated to be cancelled. We reevaluated our financial exposure as of June 30, 2022 and concluded that the reserve recorded as of March 31, 2022 is sufficient and no changes to material reserves were needed. The following table presents the above impacts of the Russia pre-tax charge: Six Months Ended June 30, 2022 (Amounts in thousands) Flowserve Pump Division Flow Control Division Consolidated Total Sales $ (5,429) $ (2) $ (5,431) Cost of sales 3,510 1,112 4,622 Gross loss (8,939) (1,114) (10,053) Selling, general and administrative expense 9,111 1,082 10,193 Operating loss $ (18,050) $ (2,196) $ (20,246) We continue to monitor the situation involving Russia and Ukraine and its impact on the rest of our global business. This includes the macroeconomic impact, including with respect to global supply chain issues and inflationary pressures. To date, these impacts have not been material to our business and we do not currently expect that any incremental impact in future quarters, including any financial impacts caused by our cancellation of customer contracts and ceasing of operations in Russia, will be material to the Company. Accounting Developments Pronouncements Not Yet Implemented In October 2021, the FASB issued ASU No. 2021-08, "Accounting for Contract Assets and Contract Liabilities from Contracts with Customers." The amendments in this Update improve comparability for both the recognition and measurement of acquired revenue contracts with customers at the date of and after a business combination. The amendments are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years and should be applied prospectively to business combinations occurring on or after the effective date of the amendments. We do not expect the impact of this ASU to be material. In November 2021, the FASB issued ASU No. 2021-10, "Government Assistance (Topic 832)." 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 aim to provide increased transparency by requiring business entities to disclose information about certain types of government assistance they receive in the notes to the financial statements. The amendments are effective for annual periods beginning after December 15, 2021 and can be applied either prospectively or retrospectively. We do not expect the impact of this ASU to be material.

Revenue Recognition

Revenue Recognition	6 Months Ended
	Jun. 30, 2022
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 the asset. Our primary method for recognizing revenue over time is the POC method. Revenue from products and services transferred to customers over time accounted for approximatel y 13% and 15% of total revenue for the three month period ended June 30, 2022 and 2021, respectively, and 12% and 16% for the six month period ended June 30, 2022 and 2021, 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 87% and 85% of total revenue for the three month period ended June 30, 2022 and 2021, respectively, and 88% and 84% for the six month period ended June 30, 2022 and 2021, respectively. Refer to Note 3 to our consolidated financial statements included in our 2021 Annual Report for a more comprehensive discussion of our policies and accounting practices of revenue recognition. Disaggregated Revenue We conduct our operations through two business segments based on the type of product and how we manage the business: • Flowserve Pump Division ("FPD") designs and manufactures custom, highly-engineered pumps, pre-configured industrial pumps, pump systems, mechanical seals, auxiliary systems and replacement parts and related services; and • Flow Control Division ("FCD") designs, manufactures and distributes a broad portfolio of engineered-to-order and configured-to-order isolation valves, control valves, valve automation products and related equipment. Our revenue sources are derived from our original equipment manufacturing and our aftermarket sales and services. Our original equipment revenues are generally related to originally designed, manufactured, distributed and installed equipment that can range from pre-configured, short-cycle products to more customized, highly-engineered equipment ("Original Equipment"). Our aftermarket sales and services are derived from sales of replacement equipment, as well as maintenance, advanced diagnostic, repair and retrofitting services ("Aftermarket"). Each of our two business segments generate Original Equipment and Aftermarket revenues. The following tables present our customer revenues disaggregated by revenue source: Three Months Ended June 30, 2022 (Amounts in thousands) FPD FCD Total Original Equipment $ 212,760 $ 198,597 $ 411,357 Aftermarket 401,665 69,200 470,865 $ 614,425 $ 267,797 $ 882,222 Three Months Ended June 30, 2021 FPD FCD Total Original Equipment $ 220,387 $ 214,097 $ 434,484 Aftermarket 397,047 66,647 463,694 $ 617,434 $ 280,744 $ 898,178 Six Months Ended June 30, 2022 (Amounts in thousands) FPD FCD Total Original Equipment $ 413,100 $ 381,439 $ 794,539 Aftermarket 775,312 133,429 908,741 $ 1,188,412 $ 514,868 $ 1,703,280 Six Months Ended June 30, 2021 FPD FCD Total Original Equipment $ 434,541 $ 406,817 $ 841,358 Aftermarket 785,059 129,069 914,128 $ 1,219,600 $ 535,886 $ 1,755,486 Our customer sales are diversified geographically. The following tables present our revenues disaggregated by geography, based on the shipping addresses of our customers: Three Months Ended June 30, 2022 (Amounts in thousands) FPD FCD Total North America(1) $ 265,657 $ 119,791 $ 385,448 Latin America(2) 48,294 4,955 53,249 Middle East and Africa 84,935 22,049 106,984 Asia Pacific 97,557 72,418 169,975 Europe 117,982 48,584 166,566 $ 614,425 $ 267,797 $ 882,222 Three Months Ended June 30, 2021 FPD FCD Total North America(1) $ 243,611 $ 98,118 $ 341,729 Latin America(2) 52,219 8,879 61,098 Middle East and Africa 69,662 26,530 96,192 Asia Pacific 119,375 88,944 208,319 Europe 132,567 58,273 190,840 $ 617,434 $ 280,744 $ 898,178 Six Months Ended June 30, 2022 (Amounts in thousands) FPD FCD Total North America(1) $ 504,368 $ 227,429 $ 731,797 Latin America(2) 95,914 10,504 106,418 Middle East and Africa 156,636 43,398 200,034 Asia Pacific 199,156 140,209 339,365 Europe 232,338 93,328 325,666 $ 1,188,412 $ 514,868 $ 1,703,280 Six Months Ended June 30, 2021 FPD FCD Total North America(1) $ 467,582 $ 188,368 $ 655,950 Latin America(2) 94,256 15,694 109,950 Middle East and Africa 152,207 54,226 206,433 Asia Pacific 244,027 167,600 411,627 Europe 261,528 109,998 371,526 $ 1,219,600 $ 535,886 $ 1,755,486 __________________________________ (1) North America represents the United States and Canada. (2) Latin America includes Mexico. On June 30, 2022, the aggregate transaction price allocated to unsatisfied (or partially unsatisfied) performance obligations was approximately $562 million. We estimate recognition of approximately $258 million of this amount as revenue in the remainder of 2022 and an additional $304 million in 2023 and thereafter. Contract Balances We receive payment from customers based on a contractual billing schedule and specific performance requirements as established in our contracts. We record billings as accounts receivable when an unconditional right to consideration exists. A contract asset represents revenue recognized in advance of our right to receive payment under the terms of a contract. A contract liability represents our right to receive payment in advance of revenue recognized for a contract. The following tables present beginning and ending balances of contract assets and contract liabilities, current and long-term, for the six months ended June 30, 2022 and 2021: (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, 2022 $ 195,598 $ 426 $ 202,965 $ 464 Revenue recognized that was included in contract liabilities at the beginning of the period — — (118,177) — Revenue recognized in the period in excess of billings 256,608 1,659 — — Billings arising during the period in excess of revenue recognized — — 122,502 — Amounts transferred from contract assets to receivables (246,405) (380) 230 — Currency effects and other, net (8,673) (1,671) (2,345) (19) Ending balance, June 30, 2022 $ 197,128 $ 34 $ 205,175 $ 445 (Amounts in thousands) Contract Assets, net (Current) Long-term Contract Assets, net(1) Contract Liabilities (Current) Long-term Contract Liabilities(2) Beginning balance, January 1, 2021 $ 277,734 $ 1,139 $ 194,227 $ 822 Revenue recognized that was included in contract liabilities at the beginning of the period — — (112,835) — Revenue recognized in the period in excess of billings 321,040 54 — — Billings arising during the period in excess of revenue recognized — — 126,591 — Amounts transferred from contract assets to receivables (326,634) (28) — — Currency effects and other, net (9,909) (86) 1,109 (19) Ending balance, June 30, 2021 $ 262,231 $ 1,079 $ 209,092 $ 803 _____________________________________ (1) Included in other assets, net.

Allowance for Expected Credit L

Allowance for Expected Credit Losses	6 Months Ended
	Jun. 30, 2022
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 is assessed and quantified using internal and external valuation information relating to past events, current conditions and reasonable and supportable forecasts over the contractual terms of an asset. Our primary exposure to expected credit losses is through our trade receivables and contract assets. For these financial assets, we record an allowance for expected credit losses that, when deducted from the gross asset balance, presents the net amount expected to be collected. Primarily, our experience of historical credit losses provides the basis for our estimation of the allowance. We estimate the allowance based on an aging schedule and according to historical losses as determined from our history of billings and collections. Additionally, we adjust the allowance for factors that are specific to our customers’ credit risk such as financial difficulties, liquidity issues, insolvency, and country and geopolitical risks. We also consider both the current and forecasted macroeconomic conditions as of the reporting date. As identified and needed, we adjust the allowance and recognize adjustments in the income statement each period. Trade receivables are written off against the allowance in the period when the receivable is deemed to be uncollectible. Subsequent recoveries of previously written off amounts are reflected as a reduction to credit impairment losses in the condensed consolidated statements of income. Contract assets represent a conditional right to consideration for satisfied performance obligations that become a receivable when the conditions are satisfied. Generally, contract assets are recorded when contractual billing schedules differ from revenue recognition based on timing and are managed through the revenue recognition process. Based on our historical credit loss experience, the current expected credit loss for contract assets is estimated to be approximately 1% of the asset balance. The following table presents the changes in the allowance for expected credit losses for our trade receivables and contract assets for the six months ended June 30, 2022 and 2021: (Amounts in thousands) Trade receivables Contract assets Beginning balance, January 1, 2022 $ 74,336 $ 2,393 Charges to cost and expenses, net of recoveries 6,763 1,338 Write-offs (600) — Currency effects and other, net (1,723) (27) Ending balance, June 30, 2022 $ 78,776 $ 3,704 Beginning balance, January 1, 2021 $ 75,176 $ 3,205 Charges to cost and expenses, net of recoveries 865 — Write-offs (2,015) — Currency effects and other, net 756 (167) Ending balance, June 30, 2021 $ 74,782 $ 3,038 Our allowance on long-term receivables, included in other assets, net, represent receivables with collection periods longer than 12 months and the balance primarily consists of reserved receivables associated with the national oil company in Venezuela. The following table presents the changes in the allowance for long-term receivables for the six months ended June 30, 2022 and 2021: (Amounts in thousands) 2022 2021 Balance at January 1 $ 67,696 $ 67,842 Currency effects and other, net 272 (72) Balance at June 30 $ 67,968 $ 67,770

Stock-Based Compensation Plans

Stock-Based Compensation Plans	6 Months Ended
	Jun. 30, 2022
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, 9,669,056 were available for issuance as of June 30, 2022. Restricted Shares primarily vest over a three year period. Restricted Shares granted to employees who retire and have achieved at least 55 years of age and 10 years of service continue to vest over the original vesting period ("55/10 Provision"). As of June 30, 2022, 114,943 stock options were outstanding. No stock options were granted or vested during the six months ended June 30, 2022 and 2021 . 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 compensati on of $34.0 million and $24.2 million at June 30, 2022 and December 31, 2021, respectively, which is expected to be recognized over a remaining weighted-average period of approximately one year. These amounts will be recognized into net earnings in prospective periods as the awards vest. The total fair value of Restricted Shares vested during the three months ended June 30, 2022 and 2021 was $1.9 million and $0.9 million , respectively. The total fair value of Restricted Shares vested during the six months ended June 30, 2022 and 2021 was $22.5 million and $24.4 million , respectively. We recorded stock-based compensation expense o f $4.6 million ($5.9 million pre-tax) and $5.1 million ($6.7 million pre-tax) for the three months ended June 30, 2022 and 2021, respectively. We recorded stock-based compensation expense o f $13.1 million ($16.9 million pre-tax) and $12.7 million ($16.5 million pre-tax) for the six months ended June 30, 2022 and 2021, respectively. The following table summarizes information regarding Restricted Shares: Six Months Ended June 30, 2022 Shares Weighted Average Number of unvested shares: Outstanding as of January 1, 2022 1,671,011 $ 43.06 Granted 967,278 32.93 Vested (523,055) 43.03 Forfeited (214,147) 45.72 Outstanding as of June 30, 2022 1,901,087 $ 37.62 Unvested Restricted Shares outstanding as of June 30, 2022 included approximately 481,000 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. Performa nce units issued in 2022 and 2021 include a secondary measure, relative TSR, which can increase or decrease the number of vesting units by 15% depending on the Company's performance versus pee rs. Performance units issued in 2022 and 2021 have a vesting percentage between 0% and 230%. Performance units issued in 2020 have a vesting percentage between 0% and 200%.

Derivative Instruments and Hedg

Derivative Instruments and Hedges	6 Months Ended
	Jun. 30, 2022
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 2021 Annual Report and Note 7 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. We have not elected hedge accounting for our foreign exchange forward contracts and the changes in the fair values are recognized immediately in our condensed consolidated statements of income. Forei gn exchange forward contr acts with third parties had a notional value of $413.9 million and $425.2 million at June 30, 2022 and December 31, 2021, respectively. At June 30, 2022, the length of foreign exchange forward contracts currently in place ranged from 21 days to 32 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 forward 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 forward contracts are summarized below: June 30, December 31, (Amounts in thousands) 2022 2021 Current derivative assets $ 831 $ 740 Noncurrent derivative assets — 2 Current derivative liabilities 5,050 2,924 Noncurrent derivative liabilities 112 82 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 forward contracts are summarized below: Three Months Ended June 30, Six Months Ended June 30, (Amounts in thousands) 2022 2021 2022 2021 Gains (losses) recognized in income $ 2,592 $ (4,312) $ 233 $ 1,793 Gains and losses recognized in our condensed consolidated statements of income for foreign exchange forward 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 swap agreements 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 both having termination dates of October 1, 2030 and the March 9, 2021 cross currency swap having an early termination date of March 11, 2025 . Also, d uring the third quarter of 2020 we entered into a cross currency swap agreement with termination date of October 1, 2030 and an early termination date of September 22, 2025. The swap agreements are designated as net investment hedges and as of June 30, 2022 the combined notional value of these swaps was €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: June 30, December 31, (Amounts in thousands) 2022 2021 Other assets, net $ 68,990 $ 23,129 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 accumulate d other comprehensive loss ("AOCL") on our consolidated balance sheet. For the three and six months ending June 30, 2022, an interest accrual of $2.1 million and $4.2 million, respectively, was recognized within interest expense in our condensed consolidated statements of income. For the three months and six months ending June 30, 2021, an interest accrual of $1.8 million and $2.4 million, respectively, was recognized within interest expense. The cumulative net investment hedge (gains) losses, net of deferred taxes, under cross-currency swaps recorded in AOCL on our condensed consolidated balance sheet are summarized below: Three Months Ended June 30, Six Months Ended June 30, (Amounts in thousands) 2022 2021 2022 2021 (Gain) loss-included component (1) $ (18,870) $ 1,798 $ (44,256) $ 185 (Gain) loss-excluded component (2) (7,634) (11,749) (8,508) 3,890 (Gain) loss recognized in AOCL $ (26,504) $ (9,951) $ (52,764) $ 4,075 _____________________________________________ (1) Change in the fair value of the swaps attributable to changes in spot rates. (2) Change in the fair value of the swaps due to changes other than those attributable to spot rates. In March 2015, we designat ed €255.7 million of our 1.25% E UR 2022 Senior Notes ("2022 Euro Senior Notes") 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 was reported in AOCL on our condensed consolidated balance sheet and the remaining change in the carrying value of the ineffective portion, if any, was 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 in 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 is summarized below: Three Months Ended June 30, Six Months Ended June 30, (Amounts in thousands) 2022 2021 2022 2021 Loss recognized in AOCL $ — $ — $ — $ 29,554 We use the spot method to measure the effectiveness of our 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 six

Debt

Debt	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Debt	Debt Debt, including finance lease obligations, net of discounts and debt issuance costs, consisted of: June 30, December 31, (Amounts in thousands, except percentages) 2022 2021 3.50% USD Senior Notes due October 1, 2030, net of unamortized discount and debt issuance costs of $5,335 and $5,611, respectively $ 494,665 $ 494,389 2.80% USD Senior Notes due January 15, 2032, net of unamortized discount and debt issuance costs of $6,003 and $6,273, respectively 493,997 493,727 Term Loan Facility, interest rate of 3.50% at June 30, 2022 and 1.45% at December 31, 2021, net of debt issuance costs of $540 and $639, respectively 276,960 291,861 Finance lease obligations and other borrowings 22,320 22,851 Debt and finance lease obligations 1,287,942 1,302,828 Less amounts due within one year 46,306 41,058 Total debt due after one year $ 1,241,636 $ 1,261,770 Senior Notes On March 19, 2021, we redeemed the remaining $400.9 million of our 2022 Euro Senior Notes and r ecorded a loss on early extinguishment of $7.6 million in the first quarter of 2021, which included the impact of a $6.6 million make-whole premium . Senior Credit Facility As discussed in Note 13 to our consolidated financial statements included in our 2021 Annual Report, we amended 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. 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 June 30, 2022, 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 three and six ended June 30, 2022. 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 June 30, 2022 and December 31, 2021, we h ad no r evolving loans outstanding and we had outstanding letters of credit of $66.2 million and $78.3 million at June 30, 2022 and December 31, 2021, respectively. After consideration of the financial covenants under our Senior Credit Facility and outstanding letters of credit, as of June 30, 2022, the amount available for borrowings was limited to $277.1 million . As of December 31, 2021, t he amount available for borrowings under our Revolving Credit Facility was $614.2 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 June 30, 2022. We have scheduled repayments on our Term Loan of $7.5 million due in the third quarter of 2022 and $10.0 million due in each of the subsequent three quarters through June 30, 2023

Fair Value

Fair Value	6 Months Ended
	Jun. 30, 2022
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 5. 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 determined using Level II inputs under the fair value hierarchy. The carrying value of our debt is included in Note 6. The estimated fair value of our Senior Notes at June 30, 2022 was $832.3 million compared to the carrying value of $988.7 million . The estimated fair value of the Senior Notes is based on Level I quoted market rates. The carrying amounts of our other financial instruments (e.g., cash and cash equivalents, accounts receivable, net, accounts payable and short-term debt) appr oximated fair value due to their short-term nature at June 30, 2022 and December 31, 2021.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2022
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories, net consisted of the following: June 30, December 31, (Amounts in thousands) 2022 2021 Raw materials $ 348,402 $ 318,348 Work in process 273,677 242,143 Finished goods 223,211 213,096 Less: Excess and obsolete reserve (96,370) (95,300) Inventories, net $ 748,920 $ 678,287

Earnings (Loss) Per Share

Earnings (Loss) Per Share	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The following is a reconciliation of net earnings of Flowserve Corporation and weighted average shares for calculating net earnings per common share. Earnings per weighted average common share outstanding was calculated as follows: Three Months Ended June 30, (Amounts in thousands, except per share data) 2022 2021 Net earnings of Flowserve Corporation $ 44,777 $ 45,354 Dividends on restricted shares not expected to vest — — Earnings attributable to common and participating shareholders $ 44,777 $ 45,354 Weighted average shares: Common stock 130,626 130,279 Participating securities 40 26 Denominator for basic earnings per common share 130,666 130,305 Effect of potentially dilutive securities 579 499 Denominator for diluted earnings per common share 131,245 130,804 Earnings per common share: Basic $ 0.34 $ 0.35 Diluted 0.34 0.35 Six Months Ended June 30, (Amounts in thousands, except per share data) 2022 2021 Net earnings of Flowserve Corporation $ 28,960 $ 59,434 Dividends on restricted shares not expected to vest — — Earnings attributable to common and participating shareholders $ 28,960 $ 59,434 Weighted average shares: Common stock 130,518 130,342 Participating securities 36 24 Denominator for basic earnings per common share 130,554 130,366 Effect of potentially dilutive securities 594 539 Denominator for diluted earnings per common share 131,148 130,905 Earnings per common share: Basic $ 0.22 $ 0.46 Diluted 0.22 0.45 Diluted earnings per share above is based upon the weighted average number of shares as determined for basic earnings per share plus shares potentially issuable in conjunction with stock options and Restricted Shares.

Legal Matters and Contingencies

Legal Matters and Contingencies	6 Months Ended
	Jun. 30, 2022
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 June 30, Six Months Ended June 30, 2022 2021 2022 2021 Beginning claims(1) 8,800 8,445 8,712 8,366 New claims 622 603 1,295 1,232 Resolved claims (505) (479) (1,090) (1,023) Other(2) — (10) — (16) Ending claims(1) 8,917 8,559 8,917 8,559 ____________________ (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”. The following table presents the changes in the estimated asbestos liability: (Amounts in thousands) 2022 2021 Beginning balance, January 1, $ 94,423 $ 99,530 Asbestos liability adjustments, net — 1,000 Cash payment activity (2,460) (3,761) Other, net (1,819) (1,284) Ending balance, June 30, $ 90,144 $ 95,485 During the three and six months ended June 30, 2022 the Company incurred expenses (net of insurance) of approximately $1.8 million and $3.6 million, respectively, compared to $1.8 million and $4.5 million, respectively, for the same periods in 2021 to defend, resolve or otherwise dispose of outstanding claims, including legal and other related expenses. These expenses are included within SG&A in our condensed consolidated statements of income. The Company had cash inflows (outflows) (net of insurance and/or indemnity) to defend, resolve or otherwise dispose of outstanding claims, including legal and other related expenses of approximately $2.7 million and $(7.0) million, respectively, during the six months ended June 30, 2022 and 2021, 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.

Pension and Postretirement Bene

Pension and Postretirement Benefits	6 Months Ended
	Jun. 30, 2022
Retirement Benefits [Abstract]
Pension and Postretirement Benefits	Pension and Postretirement Benefits Components of the net periodic cost for pension and postretirement benefits for the three months ended June 30, 2022 and 2021 were as follows: U.S. Non-U.S. Postretirement (Amounts in millions) 2022 2021 2022 2021 2022 2021 Service cost $ 6.1 $ 5.8 $ 1.4 $ 1.9 $ — $ — Interest cost 3.2 2.9 1.6 1.4 0.1 0.1 Expected return on plan assets (6.2) (6.2) (1.3) (1.7) — — Amortization of unrecognized prior service cost and other costs — 0.1 0.2 0.1 — 0.1 Amortization of unrecognized net loss 0.7 2.0 0.7 1.2 0.1 — Net periodic cost recognized $ 3.8 $ 4.6 $ 2.6 $ 2.9 $ 0.2 $ 0.2 Components of the net periodic cost for pension and postretirement benefits for the six months ended June 30, 2022 and 2021 were as follows: U.S. Non-U.S. Postretirement (Amounts in millions) 2022 2021 2022 2021 2022 2021 Service cost $ 12.4 $ 12.6 $ 3.0 $ 3.7 $ — $ — Interest cost 6.6 6.0 3.3 2.8 0.2 0.2 Expected return on plan assets (12.7) (12.7) (2.9) (3.2) — — Amortization of unrecognized prior service cost and other costs 0.1 0.1 0.3 0.2 0.1 0.1 Amortization of unrecognized net loss 1.7 3.9 1.4 2.3 0.1 — Net periodic cost recognized $ 8.1 $ 9.9 $ 5.1 $ 5.8 $ 0.4 $ 0.3 The components of net periodic cost for pension and postretirement benefits other than service costs are included in other income (expense), net in our condensed consolidated statements of income.

Shareholders' Equity

Shareholders' Equity	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Shareholders' Equity	Shareholders’ Equity Dividends – Generally, our dividend date-of-record is in the last month of the quarter, and the dividend is paid the following month. Any subsequent dividends will be reviewed by our Board of Directors and declared in its discretion. Dividends declared per share were as follows: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Dividends declared per share $ 0.20 $ 0.20 $ 0.40 $ 0.40 Share Repurchase Program – In 2014, our Board of Directors approved a $500.0 million share repurchase authorization. Our share repurchase program does not have an expiration date and we reserve the right to limit or terminate the repurchase program at any time without notice. We h ad no repurchases of shares of our outstanding common stock during three and six months ended June 30, 2022, compared to 311,000 and 440,000 shares, respectivel y, repurchased for $12.5 million and $17.5 million, respectively, for the same periods in 2021. As of June 30, 2022, we had $96.1 million of remaining capacity under our current share repurchase program.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the three months ended June 30, 2022, we earned $57.7 million before taxes and recorded a provision for income taxes of $11.6 million resulting in an effective tax rate of 20.1%. For the six months ended June 30, 2022, we earned $47.2 million before taxes and recorded a provision for income taxes of $14.8 million resulting in an effective tax rate of 31.4%. The effective tax rate varied from the U.S. federal statutory rate for the three ended June 30, 2022 primarily due to the net impact of foreign operations, partially offset by BEAT. The effective tax rate varied from the U.S. federal statutory rate for the six months ended June 30, 2022 primarily due to the cur rent and anticipated tax impact of the Russia-Ukraine conflict on our business, partially offset by the net impact of foreign operati ons. For the three months ended June 30, 2021 , we earned $50.5 million before taxes and provided for income taxes of $2.7 million resulting in an effective tax rate of 5.4%. For the six months ended June 30, 2021, we earned $71.4 million before taxes and provided for income taxes of $6.5 million resulting in an effective tax rate of 9.1%. The effective tax rate varied from the U.S. federal statutory rate for the three months ended June 30, 2021 primarily due to the net impact of foreign operations and favorable resolution of audits in foreign jurisdictions. The effective tax rate varied from the U.S. federal statutory rate for the six months ended June 30, 2021, primarily due to the net impact of foreign operations, the reversal of certain deferred tax liabilities as a result of restructuring specific aspects of our global financing arrangements and higher withholding taxes related to transactions with and amongst various foreign subsidiaries. As of June 30, 2022, the amount of unrecognized tax benefits increased by $6.3 million from December 31, 2021. 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 2015 or non-U.S. income tax audits for years through 2014. We are currently under examination for various years in Canada, China, 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 $14 million within the next 12 months. The Company maintains a full valuation allowance against the net deferred tax assets in certain foreign tax jurisdictions as of June 30, 2022. As of each reporting date, management considers new evidence, both positive and negative, that could affect its view of the future realization of net deferred tax assets. It is possible that within the next 12 months there may be sufficient positive evidence to release a portion or all of the valuation allowance in certain foreign tax jurisdictions. Release of these valuation allowances would result in a benefit to income tax expense for the period the release is recorded, which could have a material impact on net earnings. The timing and amount of the potential valuation allowance release are subject to significant management judgment and the level of profitability achieved.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Segment Information	Segment Information The following is a summary of the financial information of the reportable segments reconciled to the amounts reported in the condensed consolidated financial statements: Three Months Ended June 30, 2022 (Amounts in thousands) FPD FCD Subtotal–Reportable Segments Eliminations and All Other Consolidated Total Sales to external customers $ 614,425 $ 267,797 $ 882,222 $ — $ 882,222 Intersegment sales 445 609 1,054 (1,054) — Segment operating income 57,346 30,369 87,715 (27,383) 60,332 Three Months Ended June 30, 2021 FPD FCD Subtotal–Reportable Segments Eliminations and All Other Consolidated Total Sales to external customers $ 617,434 $ 280,744 $ 898,178 $ — $ 898,178 Intersegment sales 257 416 673 (673) — Segment operating income 67,845 37,229 105,074 (32,912) 72,162 Six Months Ended June 30, 2022 (Amounts in thousands) FPD FCD Subtotal–Reportable Segments Eliminations and All Other Consolidated Total Sales to external customers $ 1,188,412 $ 514,868 $ 1,703,280 0 $ — $ 1,703,280 Intersegment sales 2,043 1,393 3,436 (3,436) — Segment operating income 78,347 45,606 123,953 (56,253) 67,700 Six Months Ended June 30, 2021 FPD FCD Subtotal–Reportable Segments Eliminations and All Other Consolidated Total Sales to external customers $ 1,219,600 $ 535,886 $ 1,755,486 0 $ — $ 1,755,486 Intersegment sales 733 1,096 1,829 (1,829) — Segment operating income 121,627 61,942 183,569 (55,304) 128,265

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) The following table presents the changes in AOCL, net of tax for the three months ended June 30, 2022 and 2021: 2022 2021 (Amounts in thousands) Foreign currency translation items(1) Pension and other post-retirement effects Cash flow hedging activity (2) Total Foreign currency translation items(1) Pension and other post-retirement effects Cash flow hedging activity (2) Total Balance - April 1 $ (472,769) $ (98,078) $ (1,307) $ (572,154) $ (467,326) $ (142,464) $ (286) $ (610,076) Other comprehensive income (loss) before reclassifications (3) (64,160) 5,415 — (58,745) 13,998 (713) — 13,285 Amounts reclassified from AOCL — 1,155 29 1,184 — 2,772 15 2,787 Net current-period other comprehensive income (loss) (3) (64,160) 6,570 29 (57,561) 13,998 2,059 15 16,072 Balance - June 30 $ (536,929) $ (91,508) $ (1,278) $ (629,715) $ (453,328) $ (140,405) $ (271) $ (594,004) ________________________________ (1) Includes foreign currency translation adjustments attributable to noncontrolling interests of $5.9 million and $6.1 million at April 1, 2022 and 2021, respectively, and $5.9 million and $6.1 million at June 30, 2022 and 2021, respectively. Also includes the impacts from the changes in fair value of our cross-currency swaps, which were $26.5 million and $10.0 million for the three months ended June 30, 2022 and 2021, respectively. (2) Other comprehensive loss before reclassifications and amounts reclassified from AOCL to interest expense related to designated cash flow hedges. (3) Amounts in parentheses indicate an increase to AOCL. The following table presents the reclassifications out of AOCL: Three Months Ended June 30, (Amounts in thousands) Affected line item in the statement of income 2022(1) 2021(1) Pension and other postretirement effects Amortization of actuarial losses(2) Other income (expense), net $ (1,468) $ (3,089) Prior service costs(2) Other income (expense), net (144) (155) Tax benefit 457 472 Net of tax $ (1,155) $ (2,772) Cash flow hedging activity Amortization of Treasury rate lock Interest expense $ (38) $ (20) Tax benefit 9 5 Net of tax $ (29) $ (15) __________________________________ (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 11 for additional details. The following table presents the changes in AOCL, net of tax for the six months ended June 30, 2022 and 2021: 2022 2021 (Amounts in thousands) Foreign currency translation items(1) Pension and other post-retirement effects Cash flow hedging activity (2) Total Foreign currency translation items(1) Pension and other post-retirement effects Cash flow hedging activity (2) Total Balance - January 1 $ (456,025) $ (101,665) $ (1,336) $ (559,026) $ (456,437) $ (146,723) $ (488) $ (603,648) Other comprehensive income (loss) before reclassifications (3) (80,904) 7,373 — (73,531) 3,109 804 — 3,913 Amounts reclassified from AOCL — 2,784 58 2,842 — 5,514 217 5,731 Net current-period other comprehensive income (loss) (3) (80,904) 10,157 58 (70,689) 3,109 6,318 217 9,644 Balance - June 30 $ (536,929) $ (91,508) $ (1,278) $ (629,715) $ (453,328) $ (140,405) $ (271) $ (594,004) ________________________________ (1) Includes foreign currency translation adjustments attributable to noncontrolling interests of $4.6 million and $5.9 million at January 1, 2022 and 2021, respectively, and $5.9 million and $6.1 million at June 30, 2022 and 2021, respectively. Also includes the impacts from the changes in fair value of our cross-currency swaps, which were $35.1 million and $9.8 million for the six months ended June 30, 2022 and 2021, respectively. (2) Other comprehensive loss before reclassifications and amounts reclassified from AOCL to interest expense related to designated cash flow hedges. (3) Amounts in parentheses indicate an increase to AOCL. The following table presents the reclassifications out of AOCL: Six Months Ended June 30, (Amounts in thousands) Affected line item in the statement of income 2022(1) 2021(1) Pension and other postretirement effects Amortization of actuarial losses(2) Other income (expense), net $ (3,200) $ (6,148) Prior service costs(2) Other income (expense), net (295) (308) Tax benefit 711 942 Net of tax $ (2,784) $ (5,514) Cash flow hedging activity Amortization of Treasury rate lock Interest expense $ (76) $ (284) Tax benefit 18 67 Net of tax $ (58) $ (217) __________________________________ (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 11 for additional details.

Realignment Programs

Realignment Programs	6 Months Ended
	Jun. 30, 2022
Restructuring and Related Activities [Abstract]
Realignment Programs	Realignment Programs In the second quarter of 2020, we identified and initiated certain realignment activities 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 ("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 consolidated statements of income. We anticipate a total investment in these activities of approximately $95 million and the vast majority of the charges were incurred in 2020 and 2021 with the remainder to be incurred in 2022. There are certain other realignment activities that are currently being evaluated, but have not yet been finalized and therefore are not included in the above anticipated total investment. 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 related to our Realignment Program: Three Months Ended June 30, 2022 (Amounts in thousands) FPD FCD Subtotal–Reportable Segments All Other Consolidated Total Realignment Charges Restructuring Charges COS $ 604 $ 76 $ 680 $ — $ 680 SG&A — — — — — $ 604 $ 76 $ 680 $ — $ 680 Non-Restructuring Charges COS $ (225) $ 12 $ (213) $ — $ (213) SG&A 2 33 35 27 62 $ (223) $ 45 $ (178) $ 27 $ (151) Total Realignment Charges COS $ 379 $ 88 $ 467 $ — $ 467 SG&A 2 33 35 27 62 Total $ 381 $ 121 $ 502 $ 27 $ 529 Three Months Ended June 30, 2021 (Amounts in thousands) FPD FCD Subtotal–Reportable Segments All Other Consolidated Total Realignment Charges Restructuring Charges COS $ 2,016 $ 171 $ 2,187 $ — $ 2,187 SG&A 667 — 667 — 667 $ 2,683 $ 171 $ 2,854 $ — $ 2,854 Non-Restructuring Charges COS $ 1,558 $ 80 $ 1,638 $ — $ 1,638 SG&A 338 (129) 209 915 1,124 $ 1,896 $ (49) $ 1,847 $ 915 $ 2,762 Total Realignment Charges COS $ 3,574 $ 251 $ 3,825 $ — $ 3,825 SG&A 1,005 (129) 876 915 1,791 Total $ 4,579 $ 122 $ 4,701 $ 915 $ 5,616 Six Months Ended June 30, 2022 (Amounts in thousands) FPD FCD Subtotal–Reportable Segments All Other Consolidated Total Realignment Charges Restructuring Charges COS $ 885 $ 71 $ 956 $ — $ 956 SG&A — — — — — $ 885 $ 71 $ 956 $ — $ 956 Non-Restructuring Charges COS $ (589) $ (37) $ (626) $ (61) $ (687) SG&A 77 50 127 (266) (139) $ (512) $ 13 $ (499) $ (327) $ (826) Total Realignment Charges COS $ 296 $ 34 $ 330 $ (61) $ 269 SG&A 77 50 127 (266) (139) Total $ 373 $ 84 $ 457 $ (327) $ 130 Six Months Ended June 30, 2021 (Amounts in thousands) FPD FCD Subtotal–Reportable Segments All Other Consolidated Total Realignment Charges Restructuring Charges COS $ 6,043 $ 470 $ 6,513 $ — $ 6,513 SG&A 667 (9) 658 — 658 $ 6,710 $ 461 $ 7,171 $ — $ 7,171 Non-Restructuring Charges COS $ 5,449 $ 678 $ 6,127 $ 590 $ 6,717 SG&A 495 739 1,234 4,195 5,429 $ 5,944 $ 1,417 $ 7,361 $ 4,785 $ 12,146 Total Realignment Charges COS $ 11,492 $ 1,148 $ 12,640 $ 590 $ 13,230 SG&A 1,162 730 1,892 4,195 6,087 Total $ 12,654 $ 1,878 $ 14,532 $ 4,785 $ 19,317 The following is a summary of total inception to date charges, net of adjustments, related to the Realignment Program: Inception to Date (Amounts in thousands) FPD FCD Subtotal–Reportable Segments All Other Consolidated Total Realignment Charges Restructuring Charges COS $ 26,761 $ 2,107 $ 28,868 $ — $ 28,868 SG&A 716 333 1,049 (17) 1,032 $ 27,477 $ 2,440 $ 29,917 $ (17) $ 29,900 Non-Restructuring Charges COS $ 24,818 $ 686 $ 25,504 $ 581 $ 26,085 SG&A 11,126 5,312 16,438 21,529 37,967 $ 35,944 $ 5,998 $ 41,942 $ 22,110 $ 64,052 Total Realignment Charges COS $ 51,579 $ 2,793 $ 54,372 $ 581 $ 54,953 SG&A 11,842 5,645 17,487 21,512 38,999 Total $ 63,421 $ 8,438 $ 71,859 $ 22,093 $ 93,952 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 Realignment Program: Three Months Ended June 30, 2022 (Amounts in thousands) Severance Contract Termination Asset Write-Downs Other Total COS $ 570 $ — $ 19 $ 91 $ 680 SG&A — — — — — Total $ 570 $ — $ 19 $ 91 $ 680 Three Months Ended June 30, 2021 (Amounts in thousands) Severance Contract Termination Asset Write-Downs Other Total COS $ (154) $ — $ (849) $ 3,190 $ 2,187 SG&A 168 — — 499 667 Total $ 14 $ — $ (849) $ 3,689 $ 2,854 Six Months Ended June 30, 2022 (Amounts in thousands) Severance Contract Termination Asset Write-Downs Other Total COS $ 568 $ — $ 259 $ 129 $ 956 SG&A — — — — — Total $ 568 $ — $ 259 $ 129 $ 956 Six Months Ended June 30, 2021 (Amounts in thousands) Severance Contract Termination Asset Write-Downs Other Total COS $ 1,219 $ — $ 1,341 $ 3,953 $ 6,513 SG&A 168 — — 490 658 Total $ 1,387 $ — $ 1,341 $ 4,443 $ 7,171 The following is a summary of total inception to date restructuring charges, net of adjustments, related to our Realignment Program: Inception to Date (Amounts in thousands) Severance Contract Termination Asset Write-Downs Other Total COS $ 16,772 $ 86 $ 4,354 $ 7,656 $ 28,868 SG&A 251 — 14 767 1,032 Total $ 17,023 $ 86 $ 4,368 $ 8,423 $ 29,900 The following represents the activity, primarily severance charges from reductions in force, related to the restructuring reserves for the six months ended June 30, 2022 and 2021: (Amounts in thousands) 2022 2021 Balance at January 1 $ 4,868 $ 18,255 Charges, net of adjustments 696 5,830 Cash expenditures (2,082) (14,388) Other non-cash adjustments, including currency (310) (461) Balance at June 30 $ 3,172 $ 9,236

Basis of Presentation and Acc_2

Basis of Presentation and Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying condensed consolidated balance sheet as of June 30, 2022 and December 31, 2021, and the related condensed consolidated statements of income, condensed consolidated statements of comprehensive income (loss), condensed consolidated statements of shareholders' equity for the three and six months ended June 30, 2022 and 2021 and condensed consolidated statements of cash flows for the six months ended June 30, 2022 and 2021 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 Not Yet Implemented In October 2021, the FASB issued ASU No. 2021-08, "Accounting for Contract Assets and Contract Liabilities from Contracts with Customers." The amendments in this Update improve comparability for both the recognition and measurement of acquired revenue contracts with customers at the date of and after a business combination. The amendments are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years and should be applied prospectively to business combinations occurring on or after the effective date of the amendments. We do not expect the impact of this ASU to be material. In November 2021, the FASB issued ASU No. 2021-10, "Government Assistance (Topic 832)." 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 aim to provide increased transparency by requiring business entities to disclose information about certain types of government assistance they receive in the notes to the financial statements. The amendments are effective for annual periods beginning after December 15, 2021 and can be applied either prospectively or retrospectively. We do not expect the impact of this ASU to be material.
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

Basis of Presentation and Acc_3

Basis of Presentation and Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Restructuring and Related Costs	The following table presents the above impacts of the Russia pre-tax charge: Six Months Ended June 30, 2022 (Amounts in thousands) Flowserve Pump Division Flow Control Division Consolidated Total Sales $ (5,429) $ (2) $ (5,431) Cost of sales 3,510 1,112 4,622 Gross loss (8,939) (1,114) (10,053) Selling, general and administrative expense 9,111 1,082 10,193 Operating loss $ (18,050) $ (2,196) $ (20,246) Three Months Ended June 30, 2022 (Amounts in thousands) FPD FCD Subtotal–Reportable Segments All Other Consolidated Total Realignment Charges Restructuring Charges COS $ 604 $ 76 $ 680 $ — $ 680 SG&A — — — — — $ 604 $ 76 $ 680 $ — $ 680 Non-Restructuring Charges COS $ (225) $ 12 $ (213) $ — $ (213) SG&A 2 33 35 27 62 $ (223) $ 45 $ (178) $ 27 $ (151) Total Realignment Charges COS $ 379 $ 88 $ 467 $ — $ 467 SG&A 2 33 35 27 62 Total $ 381 $ 121 $ 502 $ 27 $ 529 Three Months Ended June 30, 2021 (Amounts in thousands) FPD FCD Subtotal–Reportable Segments All Other Consolidated Total Realignment Charges Restructuring Charges COS $ 2,016 $ 171 $ 2,187 $ — $ 2,187 SG&A 667 — 667 — 667 $ 2,683 $ 171 $ 2,854 $ — $ 2,854 Non-Restructuring Charges COS $ 1,558 $ 80 $ 1,638 $ — $ 1,638 SG&A 338 (129) 209 915 1,124 $ 1,896 $ (49) $ 1,847 $ 915 $ 2,762 Total Realignment Charges COS $ 3,574 $ 251 $ 3,825 $ — $ 3,825 SG&A 1,005 (129) 876 915 1,791 Total $ 4,579 $ 122 $ 4,701 $ 915 $ 5,616 Six Months Ended June 30, 2022 (Amounts in thousands) FPD FCD Subtotal–Reportable Segments All Other Consolidated Total Realignment Charges Restructuring Charges COS $ 885 $ 71 $ 956 $ — $ 956 SG&A — — — — — $ 885 $ 71 $ 956 $ — $ 956 Non-Restructuring Charges COS $ (589) $ (37) $ (626) $ (61) $ (687) SG&A 77 50 127 (266) (139) $ (512) $ 13 $ (499) $ (327) $ (826) Total Realignment Charges COS $ 296 $ 34 $ 330 $ (61) $ 269 SG&A 77 50 127 (266) (139) Total $ 373 $ 84 $ 457 $ (327) $ 130 Six Months Ended June 30, 2021 (Amounts in thousands) FPD FCD Subtotal–Reportable Segments All Other Consolidated Total Realignment Charges Restructuring Charges COS $ 6,043 $ 470 $ 6,513 $ — $ 6,513 SG&A 667 (9) 658 — 658 $ 6,710 $ 461 $ 7,171 $ — $ 7,171 Non-Restructuring Charges COS $ 5,449 $ 678 $ 6,127 $ 590 $ 6,717 SG&A 495 739 1,234 4,195 5,429 $ 5,944 $ 1,417 $ 7,361 $ 4,785 $ 12,146 Total Realignment Charges COS $ 11,492 $ 1,148 $ 12,640 $ 590 $ 13,230 SG&A 1,162 730 1,892 4,195 6,087 Total $ 12,654 $ 1,878 $ 14,532 $ 4,785 $ 19,317 The following is a summary of total inception to date charges, net of adjustments, related to the Realignment Program: Inception to Date (Amounts in thousands) FPD FCD Subtotal–Reportable Segments All Other Consolidated Total Realignment Charges Restructuring Charges COS $ 26,761 $ 2,107 $ 28,868 $ — $ 28,868 SG&A 716 333 1,049 (17) 1,032 $ 27,477 $ 2,440 $ 29,917 $ (17) $ 29,900 Non-Restructuring Charges COS $ 24,818 $ 686 $ 25,504 $ 581 $ 26,085 SG&A 11,126 5,312 16,438 21,529 37,967 $ 35,944 $ 5,998 $ 41,942 $ 22,110 $ 64,052 Total Realignment Charges COS $ 51,579 $ 2,793 $ 54,372 $ 581 $ 54,953 SG&A 11,842 5,645 17,487 21,512 38,999 Total $ 63,421 $ 8,438 $ 71,859 $ 22,093 $ 93,952

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following tables present our customer revenues disaggregated by revenue source: Three Months Ended June 30, 2022 (Amounts in thousands) FPD FCD Total Original Equipment $ 212,760 $ 198,597 $ 411,357 Aftermarket 401,665 69,200 470,865 $ 614,425 $ 267,797 $ 882,222 Three Months Ended June 30, 2021 FPD FCD Total Original Equipment $ 220,387 $ 214,097 $ 434,484 Aftermarket 397,047 66,647 463,694 $ 617,434 $ 280,744 $ 898,178 Six Months Ended June 30, 2022 (Amounts in thousands) FPD FCD Total Original Equipment $ 413,100 $ 381,439 $ 794,539 Aftermarket 775,312 133,429 908,741 $ 1,188,412 $ 514,868 $ 1,703,280 Six Months Ended June 30, 2021 FPD FCD Total Original Equipment $ 434,541 $ 406,817 $ 841,358 Aftermarket 785,059 129,069 914,128 $ 1,219,600 $ 535,886 $ 1,755,486 Our customer sales are diversified geographically. The following tables present our revenues disaggregated by geography, based on the shipping addresses of our customers: Three Months Ended June 30, 2022 (Amounts in thousands) FPD FCD Total North America(1) $ 265,657 $ 119,791 $ 385,448 Latin America(2) 48,294 4,955 53,249 Middle East and Africa 84,935 22,049 106,984 Asia Pacific 97,557 72,418 169,975 Europe 117,982 48,584 166,566 $ 614,425 $ 267,797 $ 882,222 Three Months Ended June 30, 2021 FPD FCD Total North America(1) $ 243,611 $ 98,118 $ 341,729 Latin America(2) 52,219 8,879 61,098 Middle East and Africa 69,662 26,530 96,192 Asia Pacific 119,375 88,944 208,319 Europe 132,567 58,273 190,840 $ 617,434 $ 280,744 $ 898,178 Six Months Ended June 30, 2022 (Amounts in thousands) FPD FCD Total North America(1) $ 504,368 $ 227,429 $ 731,797 Latin America(2) 95,914 10,504 106,418 Middle East and Africa 156,636 43,398 200,034 Asia Pacific 199,156 140,209 339,365 Europe 232,338 93,328 325,666 $ 1,188,412 $ 514,868 $ 1,703,280 Six Months Ended June 30, 2021 FPD FCD Total North America(1) $ 467,582 $ 188,368 $ 655,950 Latin America(2) 94,256 15,694 109,950 Middle East and Africa 152,207 54,226 206,433 Asia Pacific 244,027 167,600 411,627 Europe 261,528 109,998 371,526 $ 1,219,600 $ 535,886 $ 1,755,486 __________________________________ (1) North America represents the United States and Canada. (2) Latin America includes Mexico.
Contract liabilities	The following tables present beginning and ending balances of contract assets and contract liabilities, current and long-term, for the six months ended June 30, 2022 and 2021: (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, 2022 $ 195,598 $ 426 $ 202,965 $ 464 Revenue recognized that was included in contract liabilities at the beginning of the period — — (118,177) — Revenue recognized in the period in excess of billings 256,608 1,659 — — Billings arising during the period in excess of revenue recognized — — 122,502 — Amounts transferred from contract assets to receivables (246,405) (380) 230 — Currency effects and other, net (8,673) (1,671) (2,345) (19) Ending balance, June 30, 2022 $ 197,128 $ 34 $ 205,175 $ 445 (Amounts in thousands) Contract Assets, net (Current) Long-term Contract Assets, net(1) Contract Liabilities (Current) Long-term Contract Liabilities(2) Beginning balance, January 1, 2021 $ 277,734 $ 1,139 $ 194,227 $ 822 Revenue recognized that was included in contract liabilities at the beginning of the period — — (112,835) — Revenue recognized in the period in excess of billings 321,040 54 — — Billings arising during the period in excess of revenue recognized — — 126,591 — Amounts transferred from contract assets to receivables (326,634) (28) — — Currency effects and other, net (9,909) (86) 1,109 (19) Ending balance, June 30, 2021 $ 262,231 $ 1,079 $ 209,092 $ 803 _____________________________________ (1) Included in other assets, net.

Allowance for Expected Credit_2

Allowance for Expected Credit Losses (Tables)	6 Months Ended
	Jun. 30, 2022
Credit Loss [Abstract]
Summary of Changes in Allowance for Expected Credit Losses for Trade Receivables	The following table presents the changes in the allowance for expected credit losses for our trade receivables and contract assets for the six months ended June 30, 2022 and 2021: (Amounts in thousands) Trade receivables Contract assets Beginning balance, January 1, 2022 $ 74,336 $ 2,393 Charges to cost and expenses, net of recoveries 6,763 1,338 Write-offs (600) — Currency effects and other, net (1,723) (27) Ending balance, June 30, 2022 $ 78,776 $ 3,704 Beginning balance, January 1, 2021 $ 75,176 $ 3,205 Charges to cost and expenses, net of recoveries 865 — Write-offs (2,015) — Currency effects and other, net 756 (167) Ending balance, June 30, 2021 $ 74,782 $ 3,038
Summary of Changes in Allowance for Expected Credit Losses for Contract Assets	The following table presents the changes in the allowance for expected credit losses for our trade receivables and contract assets for the six months ended June 30, 2022 and 2021: (Amounts in thousands) Trade receivables Contract assets Beginning balance, January 1, 2022 $ 74,336 $ 2,393 Charges to cost and expenses, net of recoveries 6,763 1,338 Write-offs (600) — Currency effects and other, net (1,723) (27) Ending balance, June 30, 2022 $ 78,776 $ 3,704 Beginning balance, January 1, 2021 $ 75,176 $ 3,205 Charges to cost and expenses, net of recoveries 865 — Write-offs (2,015) — Currency effects and other, net 756 (167) Ending balance, June 30, 2021 $ 74,782 $ 3,038
Summary of Changes in Allowance for Expected Credit Losses for Long-term Receivables	The following table presents the changes in the allowance for long-term receivables for the six months ended June 30, 2022 and 2021: (Amounts in thousands) 2022 2021 Balance at January 1 $ 67,696 $ 67,842 Currency effects and other, net 272 (72) Balance at June 30 $ 67,968 $ 67,770

Stock-Based Compensation Plans

Stock-Based Compensation Plans (Tables)	6 Months Ended
	Jun. 30, 2022
Share-based Payment Arrangement [Abstract]
Information Regarding Restricted Shares	The following table summarizes information regarding Restricted Shares: Six Months Ended June 30, 2022 Shares Weighted Average Number of unvested shares: Outstanding as of January 1, 2022 1,671,011 $ 43.06 Granted 967,278 32.93 Vested (523,055) 43.03 Forfeited (214,147) 45.72 Outstanding as of June 30, 2022 1,901,087 $ 37.62

Derivative Instruments and He_2

Derivative Instruments and Hedges (Tables)	6 Months Ended
	Jun. 30, 2022
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 forward contracts are summarized below: June 30, December 31, (Amounts in thousands) 2022 2021 Current derivative assets $ 831 $ 740 Noncurrent derivative assets — 2 Current derivative liabilities 5,050 2,924 Noncurrent derivative liabilities 112 82
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 forward contracts are summarized below: Three Months Ended June 30, Six Months Ended June 30, (Amounts in thousands) 2022 2021 2022 2021 Gains (losses) recognized in income $ 2,592 $ (4,312) $ 233 $ 1,793 The cumulative net investment hedge (gains) losses, net of deferred taxes, under cross-currency swaps recorded in AOCL on our condensed consolidated balance sheet are summarized below: Three Months Ended June 30, Six Months Ended June 30, (Amounts in thousands) 2022 2021 2022 2021 (Gain) loss-included component (1) $ (18,870) $ 1,798 $ (44,256) $ 185 (Gain) loss-excluded component (2) (7,634) (11,749) (8,508) 3,890 (Gain) loss recognized in AOCL $ (26,504) $ (9,951) $ (52,764) $ 4,075 _____________________________________________ (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: June 30, December 31, (Amounts in thousands) 2022 2021 Other assets, net $ 68,990 $ 23,129
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 is summarized below: Three Months Ended June 30, Six Months Ended June 30, (Amounts in thousands) 2022 2021 2022 2021 Loss recognized in AOCL $ — $ — $ — $ 29,554

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Debt Including Capital Lease Obligations	Debt, including finance lease obligations, net of discounts and debt issuance costs, consisted of: June 30, December 31, (Amounts in thousands, except percentages) 2022 2021 3.50% USD Senior Notes due October 1, 2030, net of unamortized discount and debt issuance costs of $5,335 and $5,611, respectively $ 494,665 $ 494,389 2.80% USD Senior Notes due January 15, 2032, net of unamortized discount and debt issuance costs of $6,003 and $6,273, respectively 493,997 493,727 Term Loan Facility, interest rate of 3.50% at June 30, 2022 and 1.45% at December 31, 2021, net of debt issuance costs of $540 and $639, respectively 276,960 291,861 Finance lease obligations and other borrowings 22,320 22,851 Debt and finance lease obligations 1,287,942 1,302,828 Less amounts due within one year 46,306 41,058 Total debt due after one year $ 1,241,636 $ 1,261,770

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2022
Inventory Disclosure [Abstract]
Net Components of Inventory	Inventories, net consisted of the following: June 30, December 31, (Amounts in thousands) 2022 2021 Raw materials $ 348,402 $ 318,348 Work in process 273,677 242,143 Finished goods 223,211 213,096 Less: Excess and obsolete reserve (96,370) (95,300) Inventories, net $ 748,920 $ 678,287

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Calculation of Net Earnings Per Common Share and Weighted Average Common Share Outstanding	The following is a reconciliation of net earnings of Flowserve Corporation and weighted average shares for calculating net earnings per common share. Earnings per weighted average common share outstanding was calculated as follows: Three Months Ended June 30, (Amounts in thousands, except per share data) 2022 2021 Net earnings of Flowserve Corporation $ 44,777 $ 45,354 Dividends on restricted shares not expected to vest — — Earnings attributable to common and participating shareholders $ 44,777 $ 45,354 Weighted average shares: Common stock 130,626 130,279 Participating securities 40 26 Denominator for basic earnings per common share 130,666 130,305 Effect of potentially dilutive securities 579 499 Denominator for diluted earnings per common share 131,245 130,804 Earnings per common share: Basic $ 0.34 $ 0.35 Diluted 0.34 0.35 Six Months Ended June 30, (Amounts in thousands, except per share data) 2022 2021 Net earnings of Flowserve Corporation $ 28,960 $ 59,434 Dividends on restricted shares not expected to vest — — Earnings attributable to common and participating shareholders $ 28,960 $ 59,434 Weighted average shares: Common stock 130,518 130,342 Participating securities 36 24 Denominator for basic earnings per common share 130,554 130,366 Effect of potentially dilutive securities 594 539 Denominator for diluted earnings per common share 131,148 130,905 Earnings per common share: Basic $ 0.22 $ 0.46 Diluted 0.22 0.45

Legal Matters and Contingenci_2

Legal Matters and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2022
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 June 30, Six Months Ended June 30, 2022 2021 2022 2021 Beginning claims(1) 8,800 8,445 8,712 8,366 New claims 622 603 1,295 1,232 Resolved claims (505) (479) (1,090) (1,023) Other(2) — (10) — (16) Ending claims(1) 8,917 8,559 8,917 8,559 ____________________ (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.
Reconciliation Of Liability For Asbestos And Environmental Claims	The following table presents the changes in the estimated asbestos liability: (Amounts in thousands) 2022 2021 Beginning balance, January 1, $ 94,423 $ 99,530 Asbestos liability adjustments, net — 1,000 Cash payment activity (2,460) (3,761) Other, net (1,819) (1,284) Ending balance, June 30, $ 90,144 $ 95,485

Pension and Postretirement Be_2

Pension and Postretirement Benefits (Tables)	6 Months Ended
	Jun. 30, 2022
Retirement Benefits [Abstract]
Components of Net Periodic Cost for Pension and Postretirement Benefits	Components of the net periodic cost for pension and postretirement benefits for the three months ended June 30, 2022 and 2021 were as follows: U.S. Non-U.S. Postretirement (Amounts in millions) 2022 2021 2022 2021 2022 2021 Service cost $ 6.1 $ 5.8 $ 1.4 $ 1.9 $ — $ — Interest cost 3.2 2.9 1.6 1.4 0.1 0.1 Expected return on plan assets (6.2) (6.2) (1.3) (1.7) — — Amortization of unrecognized prior service cost and other costs — 0.1 0.2 0.1 — 0.1 Amortization of unrecognized net loss 0.7 2.0 0.7 1.2 0.1 — Net periodic cost recognized $ 3.8 $ 4.6 $ 2.6 $ 2.9 $ 0.2 $ 0.2 Components of the net periodic cost for pension and postretirement benefits for the six months ended June 30, 2022 and 2021 were as follows: U.S. Non-U.S. Postretirement (Amounts in millions) 2022 2021 2022 2021 2022 2021 Service cost $ 12.4 $ 12.6 $ 3.0 $ 3.7 $ — $ — Interest cost 6.6 6.0 3.3 2.8 0.2 0.2 Expected return on plan assets (12.7) (12.7) (2.9) (3.2) — — Amortization of unrecognized prior service cost and other costs 0.1 0.1 0.3 0.2 0.1 0.1 Amortization of unrecognized net loss 1.7 3.9 1.4 2.3 0.1 — Net periodic cost recognized $ 8.1 $ 9.9 $ 5.1 $ 5.8 $ 0.4 $ 0.3

Statement of Shareholders' Equi

Statement of Shareholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Summary of Dividends Declared	Dividends declared per share were as follows: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Dividends declared per share $ 0.20 $ 0.20 $ 0.40 $ 0.40

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Summarized Financial Information of Reportable Segments	The following is a summary of the financial information of the reportable segments reconciled to the amounts reported in the condensed consolidated financial statements: Three Months Ended June 30, 2022 (Amounts in thousands) FPD FCD Subtotal–Reportable Segments Eliminations and All Other Consolidated Total Sales to external customers $ 614,425 $ 267,797 $ 882,222 $ — $ 882,222 Intersegment sales 445 609 1,054 (1,054) — Segment operating income 57,346 30,369 87,715 (27,383) 60,332 Three Months Ended June 30, 2021 FPD FCD Subtotal–Reportable Segments Eliminations and All Other Consolidated Total Sales to external customers $ 617,434 $ 280,744 $ 898,178 $ — $ 898,178 Intersegment sales 257 416 673 (673) — Segment operating income 67,845 37,229 105,074 (32,912) 72,162 Six Months Ended June 30, 2022 (Amounts in thousands) FPD FCD Subtotal–Reportable Segments Eliminations and All Other Consolidated Total Sales to external customers $ 1,188,412 $ 514,868 $ 1,703,280 0 $ — $ 1,703,280 Intersegment sales 2,043 1,393 3,436 (3,436) — Segment operating income 78,347 45,606 123,953 (56,253) 67,700 Six Months Ended June 30, 2021 FPD FCD Subtotal–Reportable Segments Eliminations and All Other Consolidated Total Sales to external customers $ 1,219,600 $ 535,886 $ 1,755,486 0 $ — $ 1,755,486 Intersegment sales 733 1,096 1,829 (1,829) — Segment operating income 121,627 61,942 183,569 (55,304) 128,265

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table presents the changes in AOCL, net of tax for the three months ended June 30, 2022 and 2021: 2022 2021 (Amounts in thousands) Foreign currency translation items(1) Pension and other post-retirement effects Cash flow hedging activity (2) Total Foreign currency translation items(1) Pension and other post-retirement effects Cash flow hedging activity (2) Total Balance - April 1 $ (472,769) $ (98,078) $ (1,307) $ (572,154) $ (467,326) $ (142,464) $ (286) $ (610,076) Other comprehensive income (loss) before reclassifications (3) (64,160) 5,415 — (58,745) 13,998 (713) — 13,285 Amounts reclassified from AOCL — 1,155 29 1,184 — 2,772 15 2,787 Net current-period other comprehensive income (loss) (3) (64,160) 6,570 29 (57,561) 13,998 2,059 15 16,072 Balance - June 30 $ (536,929) $ (91,508) $ (1,278) $ (629,715) $ (453,328) $ (140,405) $ (271) $ (594,004) ________________________________ (1) Includes foreign currency translation adjustments attributable to noncontrolling interests of $5.9 million and $6.1 million at April 1, 2022 and 2021, respectively, and $5.9 million and $6.1 million at June 30, 2022 and 2021, respectively. Also includes the impacts from the changes in fair value of our cross-currency swaps, which were $26.5 million and $10.0 million for the three months ended June 30, 2022 and 2021, respectively. (2) Other comprehensive loss before reclassifications and amounts reclassified from AOCL to interest expense related to designated cash flow hedges.
Reclassifications out of Accumulated Other Comprehensive Income (Loss)	The following table presents the reclassifications out of AOCL: Three Months Ended June 30, (Amounts in thousands) Affected line item in the statement of income 2022(1) 2021(1) Pension and other postretirement effects Amortization of actuarial losses(2) Other income (expense), net $ (1,468) $ (3,089) Prior service costs(2) Other income (expense), net (144) (155) Tax benefit 457 472 Net of tax $ (1,155) $ (2,772) Cash flow hedging activity Amortization of Treasury rate lock Interest expense $ (38) $ (20) Tax benefit 9 5 Net of tax $ (29) $ (15) __________________________________ (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 11 for additional details. The following table presents the changes in AOCL, net of tax for the six months ended June 30, 2022 and 2021: 2022 2021 (Amounts in thousands) Foreign currency translation items(1) Pension and other post-retirement effects Cash flow hedging activity (2) Total Foreign currency translation items(1) Pension and other post-retirement effects Cash flow hedging activity (2) Total Balance - January 1 $ (456,025) $ (101,665) $ (1,336) $ (559,026) $ (456,437) $ (146,723) $ (488) $ (603,648) Other comprehensive income (loss) before reclassifications (3) (80,904) 7,373 — (73,531) 3,109 804 — 3,913 Amounts reclassified from AOCL — 2,784 58 2,842 — 5,514 217 5,731 Net current-period other comprehensive income (loss) (3) (80,904) 10,157 58 (70,689) 3,109 6,318 217 9,644 Balance - June 30 $ (536,929) $ (91,508) $ (1,278) $ (629,715) $ (453,328) $ (140,405) $ (271) $ (594,004) ________________________________ (1) Includes foreign currency translation adjustments attributable to noncontrolling interests of $4.6 million and $5.9 million at January 1, 2022 and 2021, respectively, and $5.9 million and $6.1 million at June 30, 2022 and 2021, respectively. Also includes the impacts from the changes in fair value of our cross-currency swaps, which were $35.1 million and $9.8 million for the six months ended June 30, 2022 and 2021, respectively. (2) Other comprehensive loss before reclassifications and amounts reclassified from AOCL to interest expense related to designated cash flow hedges. (3) Amounts in parentheses indicate an increase to AOCL. The following table presents the reclassifications out of AOCL: Six Months Ended June 30, (Amounts in thousands) Affected line item in the statement of income 2022(1) 2021(1) Pension and other postretirement effects Amortization of actuarial losses(2) Other income (expense), net $ (3,200) $ (6,148) Prior service costs(2) Other income (expense), net (295) (308) Tax benefit 711 942 Net of tax $ (2,784) $ (5,514) Cash flow hedging activity Amortization of Treasury rate lock Interest expense $ (76) $ (284) Tax benefit 18 67 Net of tax $ (58) $ (217) __________________________________ (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 11 for additional details.

Realignment Programs (Tables)

Realignment Programs (Tables)	6 Months Ended
	Jun. 30, 2022
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs	The following table presents the above impacts of the Russia pre-tax charge: Six Months Ended June 30, 2022 (Amounts in thousands) Flowserve Pump Division Flow Control Division Consolidated Total Sales $ (5,429) $ (2) $ (5,431) Cost of sales 3,510 1,112 4,622 Gross loss (8,939) (1,114) (10,053) Selling, general and administrative expense 9,111 1,082 10,193 Operating loss $ (18,050) $ (2,196) $ (20,246) Three Months Ended June 30, 2022 (Amounts in thousands) FPD FCD Subtotal–Reportable Segments All Other Consolidated Total Realignment Charges Restructuring Charges COS $ 604 $ 76 $ 680 $ — $ 680 SG&A — — — — — $ 604 $ 76 $ 680 $ — $ 680 Non-Restructuring Charges COS $ (225) $ 12 $ (213) $ — $ (213) SG&A 2 33 35 27 62 $ (223) $ 45 $ (178) $ 27 $ (151) Total Realignment Charges COS $ 379 $ 88 $ 467 $ — $ 467 SG&A 2 33 35 27 62 Total $ 381 $ 121 $ 502 $ 27 $ 529 Three Months Ended June 30, 2021 (Amounts in thousands) FPD FCD Subtotal–Reportable Segments All Other Consolidated Total Realignment Charges Restructuring Charges COS $ 2,016 $ 171 $ 2,187 $ — $ 2,187 SG&A 667 — 667 — 667 $ 2,683 $ 171 $ 2,854 $ — $ 2,854 Non-Restructuring Charges COS $ 1,558 $ 80 $ 1,638 $ — $ 1,638 SG&A 338 (129) 209 915 1,124 $ 1,896 $ (49) $ 1,847 $ 915 $ 2,762 Total Realignment Charges COS $ 3,574 $ 251 $ 3,825 $ — $ 3,825 SG&A 1,005 (129) 876 915 1,791 Total $ 4,579 $ 122 $ 4,701 $ 915 $ 5,616 Six Months Ended June 30, 2022 (Amounts in thousands) FPD FCD Subtotal–Reportable Segments All Other Consolidated Total Realignment Charges Restructuring Charges COS $ 885 $ 71 $ 956 $ — $ 956 SG&A — — — — — $ 885 $ 71 $ 956 $ — $ 956 Non-Restructuring Charges COS $ (589) $ (37) $ (626) $ (61) $ (687) SG&A 77 50 127 (266) (139) $ (512) $ 13 $ (499) $ (327) $ (826) Total Realignment Charges COS $ 296 $ 34 $ 330 $ (61) $ 269 SG&A 77 50 127 (266) (139) Total $ 373 $ 84 $ 457 $ (327) $ 130 Six Months Ended June 30, 2021 (Amounts in thousands) FPD FCD Subtotal–Reportable Segments All Other Consolidated Total Realignment Charges Restructuring Charges COS $ 6,043 $ 470 $ 6,513 $ — $ 6,513 SG&A 667 (9) 658 — 658 $ 6,710 $ 461 $ 7,171 $ — $ 7,171 Non-Restructuring Charges COS $ 5,449 $ 678 $ 6,127 $ 590 $ 6,717 SG&A 495 739 1,234 4,195 5,429 $ 5,944 $ 1,417 $ 7,361 $ 4,785 $ 12,146 Total Realignment Charges COS $ 11,492 $ 1,148 $ 12,640 $ 590 $ 13,230 SG&A 1,162 730 1,892 4,195 6,087 Total $ 12,654 $ 1,878 $ 14,532 $ 4,785 $ 19,317 The following is a summary of total inception to date charges, net of adjustments, related to the Realignment Program: Inception to Date (Amounts in thousands) FPD FCD Subtotal–Reportable Segments All Other Consolidated Total Realignment Charges Restructuring Charges COS $ 26,761 $ 2,107 $ 28,868 $ — $ 28,868 SG&A 716 333 1,049 (17) 1,032 $ 27,477 $ 2,440 $ 29,917 $ (17) $ 29,900 Non-Restructuring Charges COS $ 24,818 $ 686 $ 25,504 $ 581 $ 26,085 SG&A 11,126 5,312 16,438 21,529 37,967 $ 35,944 $ 5,998 $ 41,942 $ 22,110 $ 64,052 Total Realignment Charges COS $ 51,579 $ 2,793 $ 54,372 $ 581 $ 54,953 SG&A 11,842 5,645 17,487 21,512 38,999 Total $ 63,421 $ 8,438 $ 71,859 $ 22,093 $ 93,952
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 Realignment Program: Three Months Ended June 30, 2022 (Amounts in thousands) Severance Contract Termination Asset Write-Downs Other Total COS $ 570 $ — $ 19 $ 91 $ 680 SG&A — — — — — Total $ 570 $ — $ 19 $ 91 $ 680 Three Months Ended June 30, 2021 (Amounts in thousands) Severance Contract Termination Asset Write-Downs Other Total COS $ (154) $ — $ (849) $ 3,190 $ 2,187 SG&A 168 — — 499 667 Total $ 14 $ — $ (849) $ 3,689 $ 2,854 Six Months Ended June 30, 2022 (Amounts in thousands) Severance Contract Termination Asset Write-Downs Other Total COS $ 568 $ — $ 259 $ 129 $ 956 SG&A — — — — — Total $ 568 $ — $ 259 $ 129 $ 956 Six Months Ended June 30, 2021 (Amounts in thousands) Severance Contract Termination Asset Write-Downs Other Total COS $ 1,219 $ — $ 1,341 $ 3,953 $ 6,513 SG&A 168 — — 490 658 Total $ 1,387 $ — $ 1,341 $ 4,443 $ 7,171 The following is a summary of total inception to date restructuring charges, net of adjustments, related to our Realignment Program: Inception to Date (Amounts in thousands) Severance Contract Termination Asset Write-Downs Other Total COS $ 16,772 $ 86 $ 4,354 $ 7,656 $ 28,868 SG&A 251 — 14 767 1,032 Total $ 17,023 $ 86 $ 4,368 $ 8,423 $ 29,900 The following represents the activity, primarily severance charges from reductions in force, related to the restructuring reserves for the six months ended June 30, 2022 and 2021: (Amounts in thousands) 2022 2021 Balance at January 1 $ 4,868 $ 18,255 Charges, net of adjustments 696 5,830 Cash expenditures (2,082) (14,388) Other non-cash adjustments, including currency (310) (461) Balance at June 30 $ 3,172 $ 9,236

Basis of Presentation and Acc_4

Basis of Presentation and Accounting Policies - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended		12 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Sales	$ 882,222		$ 898,178	$ 1,703,280	$ 1,755,486
Cash and cash equivalents	458,345		630,397	458,345	630,397	$ 658,452	$ 1,095,274
Accounts receivable, net	735,895			735,895		739,210
Sales
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reserve for estimated exit costs, before tax				(5,431)
Cost of sales
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reserve for estimated exit costs, before tax				4,622
Gross loss
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reserve for estimated exit costs, before tax				(10,053)
Selling, general and administrative expense
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reserve for estimated exit costs, before tax				10,193
Operating loss
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reserve for estimated exit costs, before tax				(20,246)
Operating Segments
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Sales	882,222		898,178	1,703,280	1,755,486
FPD
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Sales	614,425		617,434	1,188,412	1,219,600
FPD | Operating Segments
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Sales	$ 614,425		$ 617,434	1,188,412	$ 1,219,600
FPD | Operating Segments | Sales
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reserve for estimated exit costs, before tax				(5,429)
FPD | Operating Segments | Cost of sales
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reserve for estimated exit costs, before tax				3,510
FPD | Operating Segments | Gross loss
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reserve for estimated exit costs, before tax				(8,939)
FPD | Operating Segments | Selling, general and administrative expense
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reserve for estimated exit costs, before tax				9,111
FPD | Operating Segments | Operating loss
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reserve for estimated exit costs, before tax				(18,050)
FCD | Operating Segments | Sales
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reserve for estimated exit costs, before tax				(2)
FCD | Operating Segments | Cost of sales
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reserve for estimated exit costs, before tax				1,112
FCD | Operating Segments | Gross loss
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reserve for estimated exit costs, before tax				(1,114)
FCD | Operating Segments | Selling, general and administrative expense
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reserve for estimated exit costs, before tax				1,082
FCD | Operating Segments | Operating loss
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reserve for estimated exit costs, before tax				$ (2,196)
Subsidiaries | Russian Subsidiary
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Sales						14,000
Net assets		$ 2,700
Cash and cash equivalents		7,100
Accounts receivable, net		3,600
Intercompany payable		9,300
Reserve for estimated exit costs, before tax		20,200
Reserve for estimated exit costs, after tax		$ 21,000
Subsidiaries | Certain Foreign Subsidiaries
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Sales						$ 36,000

Basis of Presentation and Acc_5

Basis of Presentation and Accounting Policies - Pre-Tax Charge Impacts (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($)
Sales
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Asset write-off, excluding cash, pre-tax	$ 5,431
Cost of sales
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Asset write-off, excluding cash, pre-tax	(4,622)
Gross loss
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Asset write-off, excluding cash, pre-tax	10,053
Selling, general and administrative expense
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Asset write-off, excluding cash, pre-tax	(10,193)
Operating loss
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Asset write-off, excluding cash, pre-tax	20,246
Subtotal–Reportable Segments | Sales | FPD
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Asset write-off, excluding cash, pre-tax	5,429
Subtotal–Reportable Segments | Sales | FCD
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Asset write-off, excluding cash, pre-tax	2
Subtotal–Reportable Segments | Cost of sales | FPD
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Asset write-off, excluding cash, pre-tax	(3,510)
Subtotal–Reportable Segments | Cost of sales | FCD
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Asset write-off, excluding cash, pre-tax	(1,112)
Subtotal–Reportable Segments | Gross loss | FPD
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Asset write-off, excluding cash, pre-tax	8,939
Subtotal–Reportable Segments | Gross loss | FCD
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Asset write-off, excluding cash, pre-tax	1,114
Subtotal–Reportable Segments | Selling, general and administrative expense | FPD
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Asset write-off, excluding cash, pre-tax	(9,111)
Subtotal–Reportable Segments | Selling, general and administrative expense | FCD
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Asset write-off, excluding cash, pre-tax	(1,082)
Subtotal–Reportable Segments | Operating loss | FPD
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Asset write-off, excluding cash, pre-tax	18,050
Subtotal–Reportable Segments | Operating loss | FCD
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Asset write-off, excluding cash, pre-tax	$ 2,196

Revenue Recognition (Narrative)

Revenue Recognition (Narrative) (Details) - segments	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Disaggregation of Revenue [Line Items]
Number of operating segments			2
Transferred over Time
Disaggregation of Revenue [Line Items]
Revenue from products and services	13%	12%	15%	16%
Transferred at Point in Time
Disaggregation of Revenue [Line Items]
Revenue from products and services	87%	88%	85%	84%

Revenue Recognition (Disaggrega

Revenue Recognition (Disaggregation of revenue) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Disaggregation of Revenue [Line Items]
Sales	$ 882,222	$ 898,178	$ 1,703,280	$ 1,755,486
Original Equipment
Disaggregation of Revenue [Line Items]
Sales	411,357	434,484	794,539	841,358
Aftermarket
Disaggregation of Revenue [Line Items]
Sales	470,865	463,694	908,741	914,128
FPD
Disaggregation of Revenue [Line Items]
Sales	614,425	617,434	1,188,412	1,219,600
FPD | Original Equipment
Disaggregation of Revenue [Line Items]
Sales	212,760	220,387	413,100	434,541
FPD | Aftermarket
Disaggregation of Revenue [Line Items]
Sales	401,665	397,047	775,312	785,059
FCD
Disaggregation of Revenue [Line Items]
Sales	267,797	280,744	514,868	535,886
FCD | Original Equipment
Disaggregation of Revenue [Line Items]
Sales	198,597	214,097	381,439	406,817
FCD | Aftermarket
Disaggregation of Revenue [Line Items]
Sales	69,200	66,647	133,429	129,069
North America
Disaggregation of Revenue [Line Items]
Sales	385,448	341,729	731,797	655,950
North America | FPD
Disaggregation of Revenue [Line Items]
Sales	265,657	243,611	504,368	467,582
North America | FCD
Disaggregation of Revenue [Line Items]
Sales	119,791	98,118	227,429	188,368
Latin America
Disaggregation of Revenue [Line Items]
Sales	53,249	61,098	106,418	109,950
Latin America | FPD
Disaggregation of Revenue [Line Items]
Sales	48,294	52,219	95,914	94,256
Latin America | FCD
Disaggregation of Revenue [Line Items]
Sales	4,955	8,879	10,504	15,694
Middle East And Africa
Disaggregation of Revenue [Line Items]
Sales	106,984	96,192	200,034	206,433
Middle East And Africa | FPD
Disaggregation of Revenue [Line Items]
Sales	84,935	69,662	156,636	152,207
Middle East And Africa | FCD
Disaggregation of Revenue [Line Items]
Sales	22,049	26,530	43,398	54,226
Asia Pacific
Disaggregation of Revenue [Line Items]
Sales	169,975	208,319	339,365	411,627
Asia Pacific | FPD
Disaggregation of Revenue [Line Items]
Sales	97,557	119,375	199,156	244,027
Asia Pacific | FCD
Disaggregation of Revenue [Line Items]
Sales	72,418	88,944	140,209	167,600
Europe
Disaggregation of Revenue [Line Items]
Sales	166,566	190,840	325,666	371,526
Europe | FPD
Disaggregation of Revenue [Line Items]
Sales	117,982	132,567	232,338	261,528
Europe | FCD
Disaggregation of Revenue [Line Items]
Sales	$ 48,584	$ 58,273	$ 93,328	$ 109,998

Revenue Recognition (Performanc

Revenue Recognition (Performance obligations) (Details) $ in Millions	Jun. 30, 2022 USD ($)
Revenue from Contract with Customer [Abstract]
Revenue, remaining performance obligation, amount	$ 562
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01
Revenue from Contract with Customer [Abstract]
Revenue, remaining performance obligation, amount	$ 258
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, period	6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01
Revenue from Contract with Customer [Abstract]
Revenue, remaining performance obligation, amount	$ 304
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, period	1 year

Revenue Recognition (Contract L

Revenue Recognition (Contract Liabilities) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Change In Contract With Customer, Asset And Liability [Roll Forward]
Contract Assets, Beginning balance	$ 195,598
Contract Liabilities, Current, Beginning balance	202,965
Revenue recognized that was included in contract liabilities at the beginning of the period	(9,642)	$ (17,026)
Amounts transferred from contract assets to receivables	(7,705)	12,232
Contract Assets, Ending balance	197,128	262,231
Contract Liabilities, Current, Ending balance	205,175	209,092
Short-term Contract with Customer
Change In Contract With Customer, Asset And Liability [Roll Forward]
Contract Assets, Beginning balance	195,598	277,734
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	256,608	321,040
Billings arising during the period in excess of revenue recognized	0	0
Amounts transferred from contract assets to receivables	(246,405)	(326,634)
Other contract asset, net	(8,673)	(9,909)
Long-term Contract with Customer
Change In Contract With Customer, Asset And Liability [Roll Forward]
Contract Assets, Beginning balance	426	1,139
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	1,659	54
Billings arising during the period in excess of revenue recognized	0	0
Amounts transferred from contract assets to receivables	(380)	(28)
Other contract asset, net	(1,671)	(86)
Contract Assets, Ending balance	34	1,079
Short-term Contract with Customer, Liability
Change In Contract With Customer, Asset And Liability [Roll Forward]
Contract Liabilities, Current, Beginning balance	202,965	194,227
Revenue recognized that was included in contract liabilities at the beginning of the period	(118,177)	(112,835)
Revenue recognized in the period in excess of billings	0	0
Billings arising during the period in excess of revenue recognized	122,502	126,591
Amounts transferred from contract assets to receivables	230	0
Other contract liability, net	(2,345)	1,109
Long-term Contract With Customer, Liability
Change In Contract With Customer, Asset And Liability [Roll Forward]
Contract Liabilities, Noncurrent, Beginning balance	464	822
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	0	0
Other contract liability, net	(19)	(19)
Contract Liabilities, Noncurrent, Ending balance	$ 445	$ 803

Allowance for Expected Credit_3

Allowance for Expected Credit Losses (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Credit Loss [Abstract]
Contract assets, allowance for credit loss as a percentage of assets	1%
Trade receivables
Beginning balance	$ 74,336	$ 75,176
Charges to cost and expenses, net of recoveries	6,763	865
Currency effects and other, net	(1,723)	756
Ending balance	78,776	74,782
Contract assets
Beginning balance	2,393	3,205
Charges to cost and expenses, net of recoveries	1,338	0
Currency effects and other, net	(27)	(167)
Ending balance	3,704	3,038
Long-term Receivables
Beginning balance	67,696	67,842
Currency effects and other, net	272	(72)
Ending balance	67,968	67,770
Write-offs	(600)	(2,015)
Write-offs	$ 0	$ 0

Stock-Based Compensation Plan_2

Stock-Based Compensation Plans (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	Jan. 01, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock available under stock option plan (in shares)	9,669,056		9,669,056
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	$ 34		$ 34		$ 24.2
Nonvested awards, compensation cost not yet recognized, period for recognition			1 year
Equity instruments other than options, vested in period, fair value	1.9	$ 0.9	$ 22.5	$ 24.4
Allocated share-based compensation expense, net of tax	4.6	5.1	13.1	12.7
Allocated share-based compensation expense	$ 5.9	$ 6.7	$ 16.9	$ 16.5
Equity instruments other than options, nonvested, number (in shares)	1,901,087		1,901,087		1,671,011
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)	481,000		481,000
Total shareholder return performance measure, as a percentage	15%		15%
Estimated vesting of shares based on performance shares (in shares)	410,000		410,000
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 | Issue Date 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage			0%
Minimum | Performance Shares | Issue Date 2022 And 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage			0%
Maximum | Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options, vested and expected to vest, exercisable, number (in shares)	1,059,000		1,059,000
Maximum | Performance Shares | Issue Date 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage			200%
Maximum | Performance Shares | Issue Date 2022 And 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage			230%

Stock-Based Compensation Plan_3

Stock-Based Compensation Plans (Information Regarding Restricted Shares) (Details) - Restricted Stock	6 Months Ended
	Jun. 30, 2022 $ / shares shares
Shares
Outstanding, Shares, Beginning balance (in shares) | shares	1,671,011
Granted, Shares (in shares) | shares	967,278
Vested, Shares (in shares) | shares	(523,055)
Forfeited, Shares (in shares) | shares	(214,147)
Outstanding, Shares, Ending balance (in shares) | shares	1,901,087
Weighted Average Grant-Date Fair Value
Outstanding, Weighted Average Grant-Date Fair Value, Beginning balance (in dollars per share) | $ / shares	$ 43.06
Granted, Weighted Average Grant-Date Fair Value (in dollars per share) | $ / shares	32.93
Vested, Weighted Average Grant-Date Fair Value (in dollars per share) | $ / shares	43.03
Forfeited, Weighted Average Grant-Date Fair Value (in dollars per share) | $ / shares	45.72
Outstanding, Weighted Average Grant-Date Fair Value, Ending balance (in dollars per share) | $ / shares	$ 37.62

Derivative Instruments and He_3

Derivative Instruments and Hedges (Textual) (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2022 EUR (€)	Dec. 31, 2021 USD ($)	Sep. 22, 2020 EUR (€)	Jun. 30, 2015 EUR (€)
2022 EUR Senior Notes
Derivative [Line Items]
Stated interest rate (as a percent)	1.25%		1.25%		1.25%
2022 EUR Senior Notes
Derivative [Line Items]
Designated amount, net investment hedge | €							€ 336,300,000	€ 255,700,000
Currency Swap
Derivative [Line Items]
Derivative, notional amount | €					€ 423,200,000
Derivative, Interest Payable | $	$ 2.1	$ 1.8	$ 4.2	$ 2.4
Not Designated as Hedging Instrument | Forward Exchange Contract
Derivative [Line Items]
Derivative, notional amount | $	$ 413.9		$ 413.9			$ 425.2
Minimum remaining maturity of foreign currency derivatives			21 days
Maximum remaining maturity of foreign currency derivatives			32 months

Derivative Instruments and He_4

Derivative Instruments and Hedges (Fair Value Balance Sheet Disclosures) (Details) - Not Designated as Hedging Instrument - Foreign Exchange Contract - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Derivative [Line Items]
Current derivative assets	$ 831	$ 740
Noncurrent derivative assets	0	2
Current derivative liabilities	5,050	2,924
Noncurrent derivative liabilities	$ 112	$ 82

Derivative Instruments and He_5

Derivative Instruments and Hedges (Fair Value of Forward Exchange Contracts) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Forward Contracts
Derivative [Line Items]
Gains (losses) recognized in income	$ 2,592	$ (4,312)	$ 233	$ 1,793

Derivative Instruments and He_6

Derivative Instruments and Hedges (Cross Currency Swap) (Details) - Currency Swap - Net Investment Hedging - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Loss (gain) - included component	$ (18,870)	$ 1,798	$ (44,256)	$ 185
(Gain) loss - excluded component	(7,634)	(11,749)	(8,508)	3,890
(Gain) loss recognized in AOCL	(26,504)	$ (9,951)	(52,764)	$ 4,075
Fair Value, Inputs, Level 2
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Noncurrent derivative assets	$ 68,990		$ 68,990		$ 23,129

Derivative Instruments and He_7

Derivative Instruments and Hedges (Remeasurement) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Net Investment Hedging
Derivative [Line Items]
Loss recognized in AOCL	$ 0	$ 0	$ 0	$ 29,554

Debt (Schedule of Debt) (Detail

Debt (Schedule of Debt) (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Debt issuance costs, net		$ 6,273
Finance lease obligations and other borrowings	$ 22,320	22,851
Debt and finance lease obligations	1,287,942	1,302,828
Less amounts due within one year	46,306	41,058
Total debt due after one year	$ 1,241,636	1,261,770
2030 USD Senior notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)	3.50%
Debt Instrument, Unamortized Discount	$ 5,335
Debt issuance costs, net		5,611
Long-term debt	$ 494,665	494,389
2032 USD Senior Notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)	0.028%
Debt Instrument, Unamortized Discount	$ 6,003
Long-term debt	$ 493,997	$ 493,727
Term Loan Facility
Debt Instrument [Line Items]
Effective interest rate (as a percent)	3.50%	1.45%
Debt issuance costs, net	$ 540	$ 639
Long-term debt	$ 276,960	$ 291,861

Debt (Details Textual)

Debt (Details Textual) - USD ($)					3 Months Ended	6 Months Ended
	Mar. 31, 2023	Dec. 31, 2022	Sep. 13, 2021	Mar. 19, 2021	Jun. 30, 2021	Sep. 30, 2022	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Line of Credit Facility [Line Items]
Loss on extinguishment of debt				$ 7,610,000			$ 0	$ 7,610,000
2022 EUR Senior Notes
Line of Credit Facility [Line Items]
Repayment of debt				400,900,000
Loss on extinguishment of debt					$ 7,600,000
Make whole premium				$ 6,600,000
Term Loan Facility
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity			$ 300,000,000
Term Loan Facility | Forecast
Line of Credit Facility [Line Items]
Periodic payment	$ 10,000,000	$ 10,000,000				$ 7,500,000
Revolving Credit Facility | Senior Credit Facility
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity			800,000,000
Line of credit, commitment fee (as a percentage)							0.175%
Amount drawn							$ 0		$ 0
Line of credit facility, current borrowing capacity							277,100,000		614,200,000
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							$ 66,200,000		$ 78,300,000
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%
Minimum | Base Rate | Term Loan Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate			0%
Minimum | Base Rate | Revolving Credit Facility | Senior Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate			0%
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	Jun. 30, 2022 USD ($)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	$ 988.7
Estimate of Fair Value Measurement
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	$ 832.3

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Net Components of Inventory
Raw materials	$ 348,402	$ 318,348
Work in process	273,677	242,143
Finished goods	223,211	213,096
Less: Excess and obsolete reserve	(96,370)	(95,300)
Inventories, net	$ 748,920	$ 678,287

Earnings (Loss) Per Share (Deta

Earnings (Loss) Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Earnings Per Share [Abstract]
Net earnings of Flowserve Corporation	$ 44,777	$ 45,354	$ 28,960	$ 59,434
Dividends on restricted shares not expected to vest	0	0	0	0
Earnings attributable to common and participating shareholders	$ 44,777	$ 45,354	$ 28,960	$ 59,434
Weighted average shares:
Common stock (in shares)	130,626,000	130,279,000	130,518,000	130,342,000
Participating securities (in shares)	40,000	26,000	36,000	24,000
Denominator for basic earnings per common share (in shares)	130,666,000	130,305,000	130,554,000	130,366,000
Effect of potentially dilutive securities (in shares)	579,000	499,000	594,000	539,000
Denominator for diluted earnings per common share (in shares)	131,245,000	130,804,000	131,148,000	130,905,000
Earnings per common share:
Basic (in dollars per share)	$ 0.34	$ 0.35	$ 0.22	$ 0.46
Diluted (in dollars per share)	$ 0.34	$ 0.35	$ 0.22	$ 0.45

Legal Matters and Contingenci_3

Legal Matters and Contingencies (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022 USD ($) claim	Jun. 30, 2021 USD ($) claim	Jun. 30, 2022 USD ($) claim	Jun. 30, 2021 USD ($) claim
Liability for Asbestos and Environmental Claims, Net [Roll Forward]
Beginning claims	8,800	8,445	8,712	8,366
New claims	622	603	1,295	1,232
Resolved claims	(505)	(479)	(1,090)	(1,023)
Other	0	(10)	0	(16)
Ending claims	8,917	8,559	8,917	8,559
Loss contingency expense | $	$ 1.8	$ 1.8	$ 3.6	$ 4.5
Payments For (Proceeds From) Insurance Settlements | $			$ 2.7	$ (7)

Legal Matters and Contingenci_4

Legal Matters and Contingencies - Estimated Asbestos Liability (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Liability for Asbestos and Environmental Claims, Net [Roll Forward]
Beginning balance, January 1,	$ 94,423	$ 99,530
Asbestos liability adjustments, net	0	1,000
Cash payment activity	(2,460)	(3,761)
Other, net	(1,819)	(1,284)
Ending balance, June 30,	$ 90,144	$ 95,485

Pension and Postretirement Be_3

Pension and Postretirement Benefits (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Domestic Plan
Components of the net periodic cost for retirement and postretirement benefits
Service cost	$ 6.1	$ 5.8	$ 12.4	$ 12.6
Interest cost	3.2	2.9	6.6	6
Expected return on plan assets	(6.2)	(6.2)	(12.7)	(12.7)
Amortization of unrecognized prior service cost and other costs	0	0.1	0.1	0.1
Amortization of unrecognized net loss	0.7	2	1.7	3.9
Net periodic cost recognized	3.8	4.6	8.1	9.9
Foreign Plan
Components of the net periodic cost for retirement and postretirement benefits
Service cost	1.4	1.9	3	3.7
Interest cost	1.6	1.4	3.3	2.8
Expected return on plan assets	(1.3)	(1.7)	(2.9)	(3.2)
Amortization of unrecognized prior service cost and other costs	0.2	0.1	0.3	0.2
Amortization of unrecognized net loss	0.7	1.2	1.4	2.3
Net periodic cost recognized	2.6	2.9	5.1	5.8
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	0.2	0.2
Expected return on plan assets	0	0	0	0
Amortization of unrecognized prior service cost and other costs	0	0.1	0.1	0.1
Amortization of unrecognized net loss	0.1	0	0.1	0
Net periodic cost recognized	$ 0.2	$ 0.2	$ 0.4	$ 0.3

Shareholders' Equity (Details)

Shareholders' Equity (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2014
Equity, Class of Treasury Stock [Line Items]
Cash dividends declared per share (in dollars per share)	$ 0.20	$ 0.20	$ 0.40	$ 0.40
Repurchase of shares (in shares)	0	311,000	0	440,000
Treasury Stock, Value, Acquired, Cost Method		$ 12,500,000		$ 17,500,000
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		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Income before income tax	$ 57,713	$ 50,455	$ 47,218	$ 71,408
Income tax expense	$ 11,618	$ 2,711	$ 14,800	$ 6,503
Effective tax rate (as a percent)	20.10%	5.40%	31.40%	9.10%
Unrecognized tax benefits, period decrease			$ 6,300
Unrecognized tax benefits approximate amount of estimated reduction within the next twelve months	$ 14,000		$ 14,000

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Summarized financial information of the reportable segments
Sales	$ 882,222	$ 898,178	$ 1,703,280	$ 1,755,486
Segment operating income	60,332	72,162	67,700	128,265
Operating Segments
Summarized financial information of the reportable segments
Sales	882,222	898,178	1,703,280	1,755,486
Intersegment sales	1,054	673	3,436	1,829
Segment operating income	87,715	105,074	123,953	183,569
Intersegment sales
Summarized financial information of the reportable segments
Intersegment sales	(1,054)	(673)	(3,436)	(1,829)
Segment operating income	(27,383)	(32,912)	(56,253)	(55,304)
FPD
Summarized financial information of the reportable segments
Sales	614,425	617,434	1,188,412	1,219,600
FPD | Operating Segments
Summarized financial information of the reportable segments
Sales	614,425	617,434	1,188,412	1,219,600
Intersegment sales	445	257	2,043	733
Segment operating income	57,346	67,845	78,347	121,627
FCD
Summarized financial information of the reportable segments
Sales	267,797	280,744	514,868	535,886
FCD | Operating Segments
Summarized financial information of the reportable segments
Sales	267,797	280,744	514,868	535,886
Intersegment sales	609	416	1,393	1,096
Segment operating income	$ 30,369	$ 37,229	$ 45,606	$ 61,942

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Components of AOCI) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	$ (572,154)	$ (610,076)	$ (559,026)	$ (603,648)
Other comprehensive income (loss) before reclassifications (3)	(58,745)	13,285	(73,531)	3,913
Amounts reclassified from AOCL	1,184	2,787	2,842	5,731
Other comprehensive income (loss)	(57,561)	16,072	(70,689)	9,644
Ending balance	(629,715)	(594,004)	(629,715)	(594,004)
Foreign currency translation, taxes	(7,299)	(6,401)	(20,605)	(5,747)
Foreign currency translation items
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(472,769)	(467,326)	(456,025)	(456,437)
Other comprehensive income (loss) before reclassifications (3)	(64,160)	13,998	(80,904)	3,109
Amounts reclassified from AOCL	0	0	0	0
Other comprehensive income (loss)	(64,160)	13,998	(80,904)	3,109
Ending balance	(536,929)	(453,328)	(536,929)	(453,328)
Pension and other post-retirement effects
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(98,078)	(142,464)	(101,665)	(146,723)
Other comprehensive income (loss) before reclassifications (3)	5,415	(713)	7,373	804
Amounts reclassified from AOCL	1,155	2,772	2,784	5,514
Other comprehensive income (loss)	6,570	2,059	10,157	6,318
Ending balance	(91,508)	(140,405)	(91,508)	(140,405)
Cash flow hedging activity
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(1,307)	(286)	(1,336)	(488)
Other comprehensive income (loss) before reclassifications (3)	0	0	0	0
Amounts reclassified from AOCL	29	15	58	217
Other comprehensive income (loss)	29	15	58	217
Ending balance	(1,278)	(271)	(1,278)	(271)
Non- controlling Interests
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Other comprehensive income (loss)	4	14	1,340	162
Accumulated other comprehensive income (loss), foreign currency translation adjustment, net of tax	5,900	6,100	5,900	6,100	$ 5,900	$ 4,600	$ 6,100	$ 5,900
Non- controlling Interests | Currency Swap
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Foreign currency translation, taxes	$ 26,500	$ 10,000	$ 35,100	$ 9,800

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income (Loss) (Reclassifications out of AOCI) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net of tax	$ (1,184)	$ (2,787)	$ (2,842)	$ (5,731)
Amortization of actuarial losses
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Reclassification	(1,468)	(3,089)	(3,200)	(6,148)
Prior service costs
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Reclassification	(144)	(155)	(295)	(308)
Pension and other post-retirement effects
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Tax benefit	457	472	711	942
Net of tax	(1,155)	(2,772)	(2,784)	(5,514)
Cash flow hedging activity
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Reclassification	(38)	(20)	(76)	(284)
Tax benefit	9	5	18	67
Net of tax	$ (29)	$ (15)	$ (58)	$ (217)

Realignment Programs (Details)

Realignment Programs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		24 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Mar. 31, 2022
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	$ 680	$ 2,854	$ 956	$ 7,171
Non-Restructuring Charges	(151)	2,762	(826)	12,146
Total Realignment Charges	529
Total Realignment Program Charges		5,616	130	19,317
Restructuring Reserve [Roll Forward]
Beginning Balance			4,868	18,255
Charges, net of adjustments	680	2,854	956	7,171
Cash expenditures			(2,082)	(14,388)
Other non-cash adjustments, including currency			(310)	(461)
Ending Balance	3,172	9,236	3,172	9,236
Subtotal–Reportable Segments
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	680	2,854	956	7,171
Non-Restructuring Charges	(178)	1,847	(499)	7,361
Total Realignment Charges	502
Total Realignment Program Charges		4,701	457	14,532
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	680	2,854	956	7,171
Eliminations and All Other
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	0	0	0	0
Non-Restructuring Charges	27	915	(327)	4,785
Total Realignment Charges	27
Total Realignment Program Charges		915	(327)	4,785
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	0	0	0	0
Severance
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	570	14	568	1,387
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	570	14	568	1,387
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	19	(849)	259	1,341
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	19	(849)	259	1,341
Other
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	91	3,689	129	4,443
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	91	3,689	129	4,443
Charges Expected to be Settled in Cash
Restructuring Cost and Reserve [Line Items]
Restructuring Charges			696	5,830
Restructuring Reserve [Roll Forward]
Charges, net of adjustments			696	5,830
Cost of sales
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	680	2,187	956	6,513
Non-Restructuring Charges	(213)	1,638	(687)	6,717
Total Realignment Charges	467
Total Realignment Program Charges		3,825	269	13,230
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	680	2,187	956	6,513
Cost of sales | Subtotal–Reportable Segments
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	680	2,187	956	6,513
Non-Restructuring Charges	(213)	1,638	(626)	6,127
Total Realignment Charges	467
Total Realignment Program Charges		3,825	330	12,640
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	680	2,187	956	6,513
Cost of sales | Eliminations and All Other
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	0	0	0	0
Non-Restructuring Charges	0	0	(61)	590
Total Realignment Charges	0
Total Realignment Program Charges		0	(61)	590
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	0	0	0	0
Cost of sales | Severance
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	570	(154)	568	1,219
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	570	(154)	568	1,219
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	19	(849)	259	1,341
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	19	(849)	259	1,341
Cost of sales | Other
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	91	3,190	129	3,953
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	91	3,190	129	3,953
Selling, general and administrative expense
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	0	667	0	658
Non-Restructuring Charges	62	1,124	(139)	5,429
Total Realignment Charges	62
Total Realignment Program Charges		1,791	(139)	6,087
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	0	667	0	658
Selling, general and administrative expense | Subtotal–Reportable Segments
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	0	667	0	658
Non-Restructuring Charges	35	209	127	1,234
Total Realignment Charges	35
Total Realignment Program Charges		876	127	1,892
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	0	667	0	658
Selling, general and administrative expense | Eliminations and All Other
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	0	0	0	0
Non-Restructuring Charges	27	915	(266)	4,195
Total Realignment Charges	27
Total Realignment Program Charges		915	(266)	4,195
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	0	0	0	0
Selling, general and administrative expense | Severance
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	0	168	0	168
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	0	168	0	168
Selling, general and administrative expense | 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
Selling, general and administrative expense | Asset Write-Downs
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	0	0	0	0
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	0	0	0	0
Selling, general and administrative expense | Other
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	0	499	0	490
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	0	499	0	490
FPD
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	604	2,683	885	6,710
Non-Restructuring Charges	(223)	1,896	(512)	5,944
Total Realignment Charges	381
Total Realignment Program Charges		4,579	373	12,654
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	604	2,683	885	6,710
FPD | Cost of sales
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	604	2,016	885	6,043
Non-Restructuring Charges	(225)	1,558	(589)	5,449
Total Realignment Charges	379
Total Realignment Program Charges		3,574	296	11,492
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	604	2,016	885	6,043
FPD | Selling, general and administrative expense
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	0	667	0	667
Non-Restructuring Charges	2	338	77	495
Total Realignment Charges	2
Total Realignment Program Charges		1,005	77	1,162
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	0	667	0	667
FCD
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	76	171	71	461
Non-Restructuring Charges	45	(49)	13	1,417
Total Realignment Charges	121
Total Realignment Program Charges		122	84	1,878
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	76	171	71	461
FCD | Cost of sales
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	76	171	71	470
Non-Restructuring Charges	12	80	(37)	678
Total Realignment Charges	88
Total Realignment Program Charges		251	34	1,148
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	76	171	71	470
FCD | Selling, general and administrative expense
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	0	0	0	(9)
Non-Restructuring Charges	33	(129)	50	739
Total Realignment Charges	33
Total Realignment Program Charges		(129)	50	730
Restructuring Reserve [Roll Forward]
Charges, net of adjustments	0	$ 0	0	$ (9)
2020 Realignment Program
Restructuring Cost and Reserve [Line Items]
Expected cost	$ 95,000		$ 95,000
Restructuring Charges					$ 29,900
Non-Restructuring Charges					64,052
Total Realignment Charges					93,952
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					29,900
2020 Realignment Program | Subtotal–Reportable Segments
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					29,917
Non-Restructuring Charges					41,942
Total Realignment Charges					71,859
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					29,917
2020 Realignment Program | Eliminations and All Other
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					(17)
Non-Restructuring Charges					22,110
Total Realignment Charges					22,093
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					(17)
2020 Realignment Program | Severance
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					17,023
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					17,023
2020 Realignment Program | Contract Termination
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					86
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					86
2020 Realignment Program | Asset Write-Downs
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					4,368
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					4,368
2020 Realignment Program | Other
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					8,423
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					8,423
2020 Realignment Program | Cost of sales
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					28,868
Non-Restructuring Charges					26,085
Total Realignment Charges					54,953
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					28,868
2020 Realignment Program | Cost of sales | Subtotal–Reportable Segments
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					28,868
Non-Restructuring Charges					25,504
Total Realignment Charges					54,372
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					28,868
2020 Realignment Program | Cost of sales | Eliminations and All Other
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					0
Non-Restructuring Charges					581
Total Realignment Charges					581
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					0
2020 Realignment Program | Cost of sales | Severance
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					16,772
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					16,772
2020 Realignment Program | Cost of sales | Contract Termination
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					86
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					86
2020 Realignment Program | Cost of sales | Asset Write-Downs
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					4,354
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					4,354
2020 Realignment Program | Cost of sales | Other
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					7,656
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					7,656
2020 Realignment Program | Selling, general and administrative expense
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					1,032
Non-Restructuring Charges					37,967
Total Realignment Charges					38,999
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					1,032
2020 Realignment Program | Selling, general and administrative expense | Subtotal–Reportable Segments
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					1,049
Non-Restructuring Charges					16,438
Total Realignment Charges					17,487
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					1,049
2020 Realignment Program | Selling, general and administrative expense | Eliminations and All Other
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					(17)
Non-Restructuring Charges					21,529
Total Realignment Charges					21,512
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					(17)
2020 Realignment Program | Selling, general and administrative expense | Severance
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					251
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					251
2020 Realignment Program | Selling, general and administrative expense | Contract Termination
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					0
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					0
2020 Realignment Program | Selling, general and administrative expense | Asset Write-Downs
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					14
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					14
2020 Realignment Program | Selling, general and administrative expense | Other
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					767
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					767
2020 Realignment Program | FPD
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					27,477
Non-Restructuring Charges					35,944
Total Realignment Charges					63,421
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					27,477
2020 Realignment Program | FPD | Cost of sales
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					26,761
Non-Restructuring Charges					24,818
Total Realignment Charges					51,579
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					26,761
2020 Realignment Program | FPD | Selling, general and administrative expense
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					716
Non-Restructuring Charges					11,126
Total Realignment Charges					11,842
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					716
2020 Realignment Program | FCD
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					2,440
Non-Restructuring Charges					5,998
Total Realignment Charges					8,438
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					2,440
2020 Realignment Program | FCD | Cost of sales
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					2,107
Non-Restructuring Charges					686
Total Realignment Charges					2,793
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					2,107
2020 Realignment Program | FCD | Selling, general and administrative expense
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					333
Non-Restructuring Charges					5,312
Total Realignment Charges					5,645
Restructuring Reserve [Roll Forward]
Charges, net of adjustments					$ 333