Flowserve (FLS) 10-K 26 Feb 25 2024 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Dec. 31, 2024	Feb. 21, 2025	Jun. 28, 2024
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2024
Current Fiscal Year End Date	--12-31
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, 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 Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction	false
Entity Shell Company	false
Entity Public Float			$ 3,676,745,049
Entity Common Stock, Shares Outstanding		131,745,177
Documents Incorporated by Reference	Certain information contained in the definitive proxy statement for the registrant’s 2025 Annual Meeting of Shareholders to be filed pursuant to Regulation 14A within 120 days after the end of the registrant's fiscal year covered by the report is incorporated by reference into Part III hereof.
Entity Central Index Key	0000030625
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Entity Address, Address Line One	5215 N. O'Connor Boulevard Suite 700,

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2024
Audit Information [Abstract]
Auditor Name	PricewaterhouseCoopers LLP
Auditor Location	Dallas, Texas
Auditor Firm ID	238

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 675,441	$ 545,678
Accounts receivable, net of allowance for expected credit losses of $79,059 and $80,013, respectively	976,739	881,869
Contract assets, net	298,906	280,228
Inventories	837,254	879,937
Prepaid expenses and other	116,157	116,065
Total current assets	2,904,497	2,703,777
Property, plant and equipment, net	539,703	506,158
Operating lease right-of-use assets, net	159,400	156,430
Goodwill	1,286,295	1,182,225
Deferred taxes	221,742	218,358
Other intangible assets, net	188,604	122,248
Other assets, net	200,580	219,523
Total assets	5,500,821	5,108,719
Current liabilities:
Accounts payable	545,310	547,824
Accrued liabilities	561,486	504,430
Contract liabilities	283,670	287,697
Debt due within one year	44,059	66,243
Operating lease liabilities	33,559	32,382
Total current liabilities	1,468,084	1,438,576
Long-term debt due after one year	1,460,132	1,167,307
Operating lease liabilities	149,838	138,665
Retirement obligations and other liabilities	371,055	389,120
Commitments and contingencies (See Note 16)
Shareholders’ equity:
Common shares, $1.25 par value, Shares authorized - 305,000, Shares issued - 176,793 and 176,793, respectively	220,991	220,991
Capital in excess of par value	502,045	506,525
Retained earnings	4,025,750	3,854,717
Treasury shares, at cost — 45,688 and 45,885 shares, respectively	(2,007,869)	(2,014,474)
Deferred compensation obligation	8,172	7,942
Accumulated other comprehensive loss	(741,424)	(639,601)
Total Flowserve Corporation shareholders’ equity	2,007,665	1,936,100
Noncontrolling interests	44,047	38,951
Total equity	2,051,712	1,975,051
Total liabilities and equity	$ 5,500,821	$ 5,108,719

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Shareholders’ equity:
Allowance for credit loss	$ 79,059	$ 80,013
Common shares, par value (in dollars per share)	$ 1.25	$ 1.25
Common stock, shares authorized (in shares)	305,000	305,000
Common shares, shares issued (in shares)	176,793	176,793
Treasury shares (in shares)	45,688	45,885

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Statement [Abstract]
Sales	$ 4,557,806	$ 4,320,577	$ 3,615,120
Cost of sales	(3,123,560)	(3,043,749)	(2,620,825)
Gross profit	1,434,246	1,276,828	994,295
Selling, general and administrative expense	(978,037)	(961,169)	(815,545)
Loss on sale of business	(12,981)	0	0
Net earnings from affiliates	19,051	17,894	18,469
Operating income	462,279	333,553	197,219
Interest expense	(69,301)	(66,924)	(46,247)
Interest income	5,371	6,991	3,963
Other income (expense), net	(12,194)	(49,870)	(559)
Earnings before income taxes	386,155	223,750	154,376
(Provision for) benefit from income taxes	(84,929)	(18,562)	43,639
Net earnings, including noncontrolling interests	301,226	205,188	198,015
Less: Net earnings attributable to noncontrolling interests	(18,467)	(18,445)	(9,326)
Net earnings attributable to Flowserve Corporation	$ 282,759	$ 186,743	$ 188,689
Net earnings per share attributable to Flowserve Corporation common shareholders:
Basic (in dollars per share)	$ 2.15	$ 1.42	$ 1.44
Diluted (in dollars per share)	$ 2.14	$ 1.42	$ 1.44
Weighted average shares - basic (in shares)	131,488	131,117	130,630
Weighted average shares - diluted (in shares)	132,356	131,931	131,315

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Net earnings, including noncontrolling interests	$ 301,226	$ 205,188	$ 198,015
Other comprehensive income (loss):
Foreign currency translation adjustments, net of taxes of $(3,023), $3,735 and $(20,526) in 2024, 2023 and 2022, respectively	(108,224)	30,810	(98,658)
Pension and other postretirement effects, net of taxes of $(128), $8,700 and $(8,423) in 2024, 2023 and 2022, respectively	5,984	(35,526)	15,309
Cash flow hedging activity, net of taxes of $(57), $0 and $286 in 2024, 2023 and 2022, respectively	66	120	403
Other comprehensive income (loss)	(102,174)	(4,596)	(82,946)
Comprehensive income, including noncontrolling interests	199,052	200,592	115,069
Comprehensive (income) attributable to noncontrolling interests	(18,117)	(5,661)	(10,579)
Comprehensive income attributable to Flowserve Corporation	$ 180,935	$ 194,931	$ 104,490

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Foreign curency translation, taxes	$ (3,023)	$ 3,735	$ (20,526)
Pension and other postretirement effects, taxes	(128)	8,700	(8,423)
Cash flow hedging activity	$ (57)	$ 0	$ 286

Consolidated Statement of Share

Consolidated Statement of Shareholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Capital in Excess of Par Value	Retained Earnings	Treasury Stock	Deferred Compensation Obligation	Accumulated Other Comprehensive Income (Loss)	Noncontrolling Interests
Balance — (in shares) at Dec. 31, 2021		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)					435
Stock activity under stock plans	(3,843)		(24,432)		$ 20,824	(235)
Stock-based compensation	25,530		25,530
Net earnings	198,015			188,689				9,326
Cash dividends declared ($0.84 per share)	(105,503)			(105,503)
Repurchases of common shares	0
Other comprehensive income (loss), net of tax	(82,946)						(84,199)	1,253
Other, net	(9,991)							(9,991)
Balance — (in shares) at Dec. 31, 2022		176,793			46,359
Balance — at Dec. 31, 2022	1,858,607	$ 220,991	507,484	3,774,209	$ (2,036,882)	6,979	(647,788)	33,614
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock activity under stock plans (in shares)					474
Stock activity under stock plans	(5,396)		(28,767)		$ 22,408	963
Stock-based compensation	27,808		27,808
Net earnings	205,188			186,743				18,445
Cash dividends declared ($0.84 per share)	(106,235)			(106,235)
Other comprehensive income (loss), net of tax	(4,596)						8,187	(12,783)
Other, net	$ (325)							(325)
Balance — (in shares) at Dec. 31, 2023	176,793	176,793			45,885
Balance — at Dec. 31, 2023	$ 1,975,051	$ 220,991	506,525	3,854,717	$ (2,014,474)	7,942	(639,601)	38,951
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock activity under stock plans (in shares)					621
Stock activity under stock plans	(8,049)		(34,954)		$ 26,675	230
Stock-based compensation	30,474		30,474
Net earnings	301,226			282,759				18,467
Cash dividends declared ($0.84 per share)	(111,726)			(111,726)
Repurchases of common shares (in shares)					(424)
Repurchases of common shares	(20,070)				$ (20,070)
Other comprehensive income (loss), net of tax	(102,174)						(101,824)	(350)
Other, net	$ (13,020)							(13,021)
Balance — (in shares) at Dec. 31, 2024	176,793	176,793			45,688
Balance — at Dec. 31, 2024	$ 2,051,712	$ 220,991	$ 502,045	$ 4,025,750	$ (2,007,869)	$ 8,172	$ (741,424)	$ 44,047

Consolidated Statement of Sha_2

Consolidated Statement of Shareholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Stockholders' Equity [Abstract]
Dividends per share (in USD per share)	$ 0.84	$ 0.80	$ 0.80

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash flows — Operating activities:
Net earnings, including noncontrolling interests	$ 301,226	$ 205,188	$ 198,015
Adjustments to reconcile net earnings to net cash provided (used) by operating activities:
Depreciation	75,849	73,464	77,636
Amortization of intangible and other assets	9,749	10,283	13,317
Loss on sale of business	12,981	0	0
Stock-based compensation	30,474	27,808	25,530
Foreign currency, asset write downs and other non-cash adjustments	24,172	(17,331)	(27,758)
Change in assets and liabilities, net of effects of businesses acquired:
Accounts receivable, net	(82,188)	4,744	(152,011)
Inventories	38,872	(59,831)	(147,492)
Contract assets, net	(18,513)	(41,149)	(41,768)
Prepaid expenses and other assets, net	15,116	7,825	17,461
Accounts payable	(12,336)	53,065	78,968
Contract liabilities	(6,070)	26,837	61,684
Accrued liabilities	49,578	59,213	(5,226)
Retirement obligations and other	1,456	38,497	(1,430)
Net deferred taxes	(15,058)	(62,841)	(136,936)
Net cash flows provided (used) by operating activities	425,308	325,772	(40,010)
Cash flows — Investing activities:
Capital expenditures	(81,019)	(67,359)	(76,287)
Payments for acquisition, net of cash acquired	(305,924)	0	0
Proceeds from disposal of assets	2,244	2,057	4,422
Payments for disposition of business	(2,555)	0	0
Proceeds from termination of cross-currency swap	0	0	(66,004)
Affiliate investment activity	40
Affiliate investment activity		(3,278)	(225)
Net cash flows provided (used) by investing activities	(387,214)	(68,580)	(6,086)
Cash flows — Financing activities:
Proceeds from term loan	366,000	0	0
Payments on term loan	(95,375)	(40,000)	(32,500)
Proceeds under revolving credit facility	100,000	280,000	45,000
Payments under revolving credit facility	(100,000)	(280,000)	(45,000)
Proceeds under other financing arrangements	1,437	1,114	1,733
Payments under other financing arrangements	(1,455)	(2,604)	(1,790)
Payments related to tax withholding for stock-based compensation	(9,581)	(6,245)	(4,683)
Repurchases of common shares	(20,070)	0	0
Payments of dividends	(110,440)	(104,955)	(104,549)
Other	(13,021)	(324)	(8,223)
Net cash flows provided (used) by financing activities	117,495	(153,014)	(150,012)
Effect of exchange rate changes on cash	(25,826)	6,529	(27,373)
Net change in cash and cash equivalents	129,763	110,707	(223,481)
Cash and cash equivalents at beginning of year	545,678	434,971	658,452
Cash and cash equivalents at end of year	675,441	545,678	434,971
Supplemental Cash Flow Information:
Income taxes paid (net of refunds)	81,172	119,275	60,085
Interest paid	66,809	64,865	41,629
Contingent liabilities incurred related to acquired business, but not paid	$ 15,000	$ 0	$ 0

Significant Accounting Policies

Significant Accounting Policies and Accounting Developments	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Significant Accounting Policies and Accounting Developments	SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING DEVELOPMENTS We are principally engaged in the worldwide design, manufacture, distribution and service of industrial flow management equipment. We provide long lead time, custom and other highly engineered pumps; standardized, general-purpose pumps; mechanical seals; engineered and industrial valves; related automation products; and services and solutions primarily for oil and gas, chemical, power generation, water management and other general industries requiring flow management products and services. Equipment manufactured and serviced by us is predominantly used in industries that deal with difficult-to-handle and corrosive fluids, as well as environments with extreme temperatures, pressure, horsepower and speed. Our business is affected by economic conditions in the United States ("U.S.") and other countries where our products are sold and serviced, by the cyclical nature and competitive environment of our industries served, by the relationship of the U.S. dollar to other currencies and by the demand for and pricing of our customers’ end products. Russia and Ukraine Conflict - In response to the Russia-Ukraine conflict, 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 March 2022 we permanently ceased all Company operations in Russia. 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 contra-revenue for previously recognized revenue and estimated cancellation fees on open contracts that were previously accounted for under the percentage of completion ("POC") method 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 been or are anticipated to be canceled. In addition, we reevaluated our financial exposure as of December 31, 2022 and recorded an incremental $13.6 million pre-tax charge ($9.8 million after-tax) in the fourth quarter of 2022 for additional contract cancellation fees, to reserve our residual financial exposure due to increased Russia sanctions imposed during the latter part of 2022 and our decision to cancel backlog as a result of the additional sanctions. 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. We reevaluated our financial exposure and made a $2 million adjustment during the period ended March 31, 2024 to reduce the existing reserves. We made no further adjustments through December 31, 2024. To date, 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. The following table presents the above impacts of the Russia pre-tax charge for the year ended December 31, 2022: Year Ended December 31, 2022 (Amounts in thousands) Flowserve Pumps Division Flow Control Division Consolidated Total Sales $ (9,330) $ — $ (9,330) Cost of sales ("COS") 7,442 1,418 8,860 Gross loss (16,772) (1,418) (18,190) Selling, general and administrative expense ("SG&A") 13,977 1,720 15,697 Operating loss $ (30,749) $ (3,138) $ (33,887) Terminated Acquisition — On February 9, 2023, the Company entered into a definitive agreement to acquire all of the outstanding equity of Velan Inc., a manufacturer of highly engineered industrial valves. In October 2023, we received notice that the required French foreign investment screening approval was not obtained. As a result, the transaction was terminated. According to the terms of the agreement, no termination fee was paid by either party. Acquisition related expenses incurred during 2023 associated with the transaction were $7.3 million. NAF AB Divestiture — Effective May 4, 2024, we divested NAF AB, a previously wholly owned subsidiary and control valves business within our Flow Control Division ("FCD") segment, including the NAF AB facility located in Linkoping, Sweden. The sale included cash paid to the buyer of $2.6 million and resulted in both a pre-tax and after-tax loss of $13.0 million recorded in loss on sale of business in the consolidated statements of income in the period ended June 30, 2024. In 2024, through the date of disposition, we recorded revenues of approximately $3.0 million and an immaterial amount of operating income. Principles of Consolidation — The consolidated financial statements include the accounts of our company and our wholly and majority owned subsidiaries. In addition, we consolidate any variable interest entities for which we are deemed to be the primary beneficiary. Noncontrolling interests of non-affiliated parties have been recognized for all majority-owned consolidated subsidiaries. Intercompany profits/losses, transactions and balances among consolidated entities have been eliminated from our consolidated financial statements. In the ordinary course of our operations worldwide, we have entered into joint ventures and interests (collectively referred to as “affiliates”) to provide greater flexibility in delivering our products and services, gain access to markets and geographical locations and reduce exposure and diversify risk. Investments in affiliate companies with a noncontrolling ownership interests between 20% and 50%, are unconsolidated and are accounted for using the equity method, which approximates our equity interest in their underlying equivalent net book value under accounting principles generally accepted in the U.S. ("U.S. GAAP"). All equity method investments are reviewed for impairment whenever events and conditions indicate that a decrease in the value of an investment has occurred that is other than temporary. If impaired, an impairment loss representing the difference between our carrying value and fair value is recorded and the investment is written down to a new carrying value. Investment in affiliate companies where we own less than 20% are accounted for by the cost method, whereby income is only recognized in the event of dividend receipt. Investments accounted for by the cost method are tested for impairment if an impairment indicator is present. Use of Estimates — The process of preparing financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect reported amounts of certain assets, liabilities, revenues and expenses. We believe our estimates and assumptions are reasonable; however, actual results may differ materially from such estimates. The most significant estimates and assumptions are used in determining: • Timing and amount of revenue recognition; • Deferred taxes, tax valuation allowances and tax reserves; • Reserves for contingent loss; • Pension and postretirement benefits; • Valuation of goodwill, indefinite-lived intangible assets and other long-lived assets; and • Assets and liabilities acquired in a business combination. 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. More complex contracts with our customers typically have longer lead times and multiple commitments of goods and services, including any combination of designing, developing, manufacturing, modifying, installing and commissioning of flow management equipment and providing services and parts related to the performance of such products. We recognize revenue when (or as) we satisfy a performance obligation by transferring control to a customer. Transfer of control is evaluated based on the customer’s ability to direct the use of and obtain substantially all of the benefits of a performance obligation. Revenue is recognized either over time or at a point in time, depending on the specific facts and circumstances for each contract, including the terms and conditions of the contract as agreed with the customer and the nature of the products or services to be provided. Service-related revenues do not typically represent a significant portion of the contracts with our customers and do not meet the thresholds requiring separate disclosure. Our primary method for recognizing revenue over time is the POC method, whereby progress towards completion is measured by applying an input measure based on costs incurred to date relative to total estimated costs at completion. If control of the products and/or services does not transfer over time, then control transfers at a point in time. We determine the point in time that control transfers to a customer based on the evaluation of specific indicators, such as title transfer, risk of loss transfer, customer acceptance and physical possession. For a detailed discussion related to revenue recognition refer to Note 3, "Revenue Recognition." Cash and Cash Equivalents — We place temporary cash investments with financial institutions and, by policy, invest in those institutions and instruments that have minimal credit risk and market risk. These investments, with an original maturity of three months or less when purchased, are classified as cash equivalents. They are highly liquid and principal values are not subject to significant risk of change due to interest rate fluctuations. Accounts Receivable, Allowance for Expected Credit Losses and Credit Risk — Trade accounts receivables are recorded at the invoiced amount and do not bear interest. We establish an allowance for expected credit losses on an aging schedule and according to historical losses as determined from our billings and collections history. Additionally, we consider factors that are specific to our customers’ credit risk such as financial difficulties, liquidity issues, insolvency, and country and political risk. We also consider both the current and forecasted direction of macroeconomic conditions at the reporting date in estimating expected credit losses. Receivables are written off against the allowance in the period when the receivable is deemed to be uncollectible and further collection efforts have ceased. Subsequent recoveries of amounts previously written off are reflected as a reduction to credit impairment losses in the income statement. Credit risks are mitigated by the diversity of our customer base across many different geographic regions and industries and by performing creditworthiness analyses on our customers. Additionally, we mitigate credit risk through letters of credit and advance payments received from our customers. We do not believe that we have any other significant concentrations of credit risk. Inventories and Related Reserves — Inventories are stated at the lower of cost or net realizable value. Cost is determined by the first-in, first-out method. Reserves for excess and obsolete inventories are based upon our assessment of market conditions for our products determined by historical usage and estimated future demand. Due to the long life cycles of our products, we carry spare parts inventories that have historically low usage rates and provide reserves for such inventory based on demonstrated usage and aging criteria. Income Taxes, Deferred Taxes, Tax Valuation Allowances and Tax Reserves — We account for income taxes under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are calculated using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the period that includes the enactment date. We record valuation allowances to reduce the carrying value of deferred tax assets to amounts that we expect are more likely than not to be realized. We assess existing deferred tax assets, net operating losses and tax credits by jurisdiction and expectations of our ability to utilize these tax attributes through a review of past, current and estimated future taxable income and establishment of tax planning strategies. We provide deferred taxes for the temporary differences associated with our investment in foreign subsidiaries that have a financial reporting basis that exceeds tax basis, unless we can assert permanent reinvestment in foreign jurisdictions. Financial reporting basis and tax basis differences in investments in foreign subsidiaries consist of both unremitted earnings and losses, as well as foreign currency translation adjustments. The amount of income taxes we pay is subject to ongoing audits by federal, state, and foreign tax authorities, which often result in proposed assessments. We establish reserves for open tax years for uncertain tax positions that may be subject to challenge by various tax authorities. The consolidated tax provision and related accruals include the impact of such reasonably estimable losses and related interest and penalties as deemed appropriate. We recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities. The determination is based on the technical merits of the position and presumes that each uncertain tax position will be examined by the relevant taxing authority that has full knowledge of all relevant information. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement. Legal and Environmental Contingencies — Legal and environmental reserves are recorded based upon a case-by-case analysis of the relevant facts and circumstances and an assessment of potential legal obligations and costs. Amounts relating to legal and environmental liabilities are recorded when it is probable that a loss has been incurred and such loss is reasonably estimable. Assessments of legal and environmental costs are based on information obtained from our independent and in-house experts and our loss experience in similar situations. Estimates are updated as applicable when new information regarding the facts and circumstances of each matter becomes available. Legal fees associated with legal and environmental liabilities are expensed as incurred. We are a defendant in a number of lawsuits that seek to recover damages for personal injury allegedly resulting from exposure to asbestos-containing products formerly manufactured and/or distributed by heritage companies of the Company. We have estimated that the liability for pending and future claims not yet asserted, and which are probable and estimable, could be experienced through 2054, which represents the expected end of our asbestos liability exposure with no further ongoing claims expected beyond that date. This estimate is based on the Company's historical claim experience and estimates of the number and resolution cost of potential future claims that may be filed based on anticipated levels of unique plaintiff asbestos-related claims in the U.S. tort system against all defendants, the diminished volatility and consistency of observable claims data, the period of time that has elapsed since we stopped manufacturing products that contained encapsulated asbestos and an expected downward trend in claims due to the average age of our claimants. This estimate is not discounted. In light of the uncertainties and variables inherent in the long-term projection of the total asbestos liability, as part of our ongoing review of asbestos claims, each year we will reassess the projected liability of unasserted asbestos claims to be filed through 2054, and we will continually reassess the time horizon over which a reasonable estimate of unasserted claims can be projected. We assess the sufficiency of the estimated liability for pending and future claims on an ongoing basis by evaluating actual experience regarding claims filed, settled and dismissed, and amounts paid in settlements. In addition to claims and settlement experience, we consider additional quantitative and qualitative factors such as changes in legislation, the legal environment and the Company's defense strategy. In connection with our ongoing review of asbestos-related claims, we have also reviewed the amount of potential insurance coverage for such claims, taking into account the remaining limits of such coverage, the number and amount of claims on our insurance from co-insured parties, ongoing litigation against the Company’s insurers, potential remaining recoveries from insolvent insurers, the impact of previous insurance settlements and coverage available from solvent insurers not party to the coverage litigation. We review ongoing insurance coverage available for a significant amount of the potential future asbestos-related claims and in the future could secure additional insurance coverage as deemed necessary. The study from the Company's actuary, based on data as of June 30, 2024, provided for a range of possible future liability from approximately $93.2 million to $143.7 million. The Company does not believe any amount within the range of potential outcomes represents a better estimate than another given the many factors and assumptions inherent in the projections and therefore the Company has recorded the liability at the actuarial central estimate of approximately $110.3 million as of December 31, 2024. In addition, the Company has recorded estimated insurance receivables of approximately $35.8 million as of December 31, 2024. The amounts recorded for the asbestos-related liability and the related insurance receivables are based on facts known at the time and a number of assumptions. However, projecting future events, such as the number of new claims to be filed each year, the length of time it takes to defend, resolve, or otherwise dispose of such claims, coverage issues among insurers and the continuing solvency of various insurance companies, as well as the numerous uncertainties surrounding asbestos litigation in the United States, could cause the actual liability and insurance recoveries for us to be higher or lower than those projected or recorded. 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 year. Changes recorded in the estimated liability and estimated insurance recovery based on projections of asbestos litigation and corresponding insurance coverage, result in the recognition of additional expense or income. For a discussion pertaining to the activity related to asbestos claims refer to Note 16, "Legal Matters and Contingencies." Warranty Accruals — Warranty obligations are based upon product failure rates, materials usage, service delivery costs, an analysis of all identified or expected claims and an estimate of the cost to resolve such claims. The estimates of expected claims are generally a factor of historical claims and known product issues. Warranty obligations based on these factors are adjusted based on historical sales trends for the prec eding 24 months. Insurance Accruals — Insurance accruals are recorded for wholly or partially self-insured risks such as medical benefits and workers’ compensation and are based upon an analysis of our claim loss history, insurance deductibles, policy limits and other relevant factors that are updated annually and are included in accrued liabilities in our consolidated balance sheets. The estimates are based upon information received from actuaries, insurance company adjusters, independent claims administrators or other independent sources. Receivables from insurance carriers are estimated using our historical experience with insurance recovery rates and estimates of future recoveries, which include estimates of coverage and financial viability of our insurance carriers. Estimated receivables are included in accounts receivable, net and other assets, net, as applicable, in our consolidated balance sheets. Pension and Postretirement Obligations — Determination of pension and postretirement benefits obligations is based on estimates made by management in consultation with independent actuaries and investment advisors. Inherent in these valuations are assumptions including discount rates, expected rates of return on plan assets, retirement rates, mortality rates and rates of compensation increase and other factors all of which are reviewed annually and updated if necessary. Current market conditions, including changes in rates of return, interest rates and medical inflation rates, are considered in selecting these assumptions. Actuarial gains and losses and prior service costs are recognized in accumulated other comprehensive loss as they arise and we amortize these costs into net pension expense over the remaining expected service period. Property, Plant and Equipment and Depreciation — Property, plant and equipment are stated at historical cost, less accumulated depreciation. If asset retirement obligations exist, they are capitalized as part of the carrying amount of the asset and depreciated over the remaining useful life of the asset. The useful lives of leasehold improvements are the lesser of the remaining lease term or the useful life of the improvement. When assets are retired or otherwise disposed of, their costs and related accumulated depreciation are removed from the accounts and any resulting gains or losses are included in income from operations for the period. Depreciation is computed by the straight-line method based on the estimated useful lives of the depreciable assets, or in the case of assets under finance leases, over the related lease term. Generally, the estimated useful lives of the assets are: Buildings and improvements 10 to 40 years Machinery, equipment and tooling 3 to 14 years Software, furniture and fixtures and other 3 to 7 years Costs related to routine repairs and maintenance are expensed as incurred. Leases — We have operating and finance leases for certain manufacturing facilities, offices, service and quick response centers, machinery, equipment and automobiles. Our leases have remaining lease terms of up to 28 years. The terms and conditions of our leases may include options to extend or terminate the lease which are considered and included in the lease term when these options are reasonably certain of exercise. We determine if a contract is, or contains, a lease at inception by evaluating whether the contract conveys the right to control the use of an identified asset. For all classes of leased assets, we account for any non-lease components in the contract together with the related lease component in the same unit of account. For lease contracts containing more than one lease component, we allocate the contract consideration to each of the lease components on the basis of relative standalone prices in order to identify the lease payments for each lease component. Right-of-use ("ROU") assets and lease liabilities are recognized in our consolidated balance sheets at the commencement date based on the present value of remaining lease payments over the lease term. Additionally, ROU assets include any lease payments made at or before the commencement date, as well as any initial direct costs incurred, and are reduced by any lease incentives received. In determining the discount rate used to measure the right-of-use asset and lease liability, we utilize the Company’s incremental borrowing rate and consider the term of the lease, as well as the geographic location of the leased asset. Our incremental borrowing country-specific rate is determined based on information available at the commencement date of the lease. Operating leases are included in operating lease right-of-use assets, net and operating lease liabilities in our consolidated balance sheets. Finance leases are included in property, plant and equipment, debt due within one year and long-term debt due after one year in our consolidated balance sheets. For all classes of leased assets, we have applied an accounting policy election to exclude short-term leases from recognition in our consolidated balance sheets. A short-term lease has a lease term of 12 months or less at the commencement date and does not include a purchase option that is reasonably certain of exercise. We recognize short-term lease expense in our consolidated income statements on a straight-line basis over the lease term. Our short-term lease expense and short-term lease commitments as of December 31, 2024 are immaterial. We have certain lease contracts with terms and conditions that provide for variability in the payment amount based on changes in facts or circumstances occurring after the commencement date. These variable lease payments are recognized in our consolidated income statements as the obligation is incurred. We have certain lease contracts where we provide a guarantee to the lessor that the value of an underlying asset will be at least a specified amount at the end of the lease. Estimated amounts expected to be paid for residual value guarantees are included in lease liabilities and ROU assets. Supplier Finance Programs — We partner with two banks to offer our suppliers the option of participating in a supplier financing program and receive payment early. Under the program agreement, we must reimburse each bank for approved and valid invoices in accordance with the originally agreed upon terms with the supplier. We have no obligation for fees; subscription, service, commissions or otherwise with either bank. We also have no obligation for pledged assets or other forms of guarantee and may terminate either program agreement with appropriate notice. As of December 31, 2024, $8.6 million remained outstanding with the supply chain financing partner banks and recorded within accounts payable The rollforward of our outstanding obligations confirmed as valid under the supplier finance programs for the year ended December 31, 2024 is as follows: (Amounts in thousands) 2024 Obligations outstanding at the beginning of the year $ 13,527 Invoices confirmed 61,198 Confirmed invoices settled 66,154 Obligations outstanding at the end of the year $ 8,571 Internally Developed Software — We capitalize certain costs associated with the development of internal-use software. Generally, these costs are related to significant software development projects and are amortized over their estimated useful life, typi cally three three Intangible Assets — Intangible assets, excluding trademarks (which are considered to have an indefinite life), consist primarily of engineering drawings, patents, existing customer relationships, software, distribution networks , acquired backlog, and other items that are being amortized over their estimated useful lives generally ranging from one Valuation of Goodwill, Indefinite-Lived Intangible Assets and Other Long-Lived Assets — The value of goodwill and indefinite-lived intangible assets is tested for impairment as of December 31 each year or whenever events or circumstances indicate such assets may be impaired. The identification of our goodwill reporting units begins at the operating segment level and considered whether components one level below the operating segment levels should be identified as reporting units for the purpose of testing goodwill for impairment based on certain conditions. These conditions included, among other factors, (i) the extent to which a component represents a business and (ii) the aggregation of economically similar components within the operating segments based on the similarity of the nature of the products and services, the nature of the production processes, the methods of distribution and the types of industries served. This resulted in two reporting units that are consistent with our operating and reportable segments, FPD and FCD, as no components exist one level below the operating segment levels for which discrete financial information is available for review by segment management. Accounting Standards Codification ("ASC") 350 allows an optional qualitative assessment, prior to a quantitative assessment test, to determine whether it is more likely than not that the fair value of a reporting unit exceeds its carrying amount. For goodwill, we generally do not attempt a qualitative assessment and proceed directly to the quantitative assessment, except in instances where we have completed an acquisition shortly before our annual impairment assessment. If the carrying value of a reporting unit exceeds its fair value, the goodwill of that reporting unit is impaired and an impairment loss is recorded equal to the excess of the carrying value over its fair value. We estimate the fair value of our reporting units based on an income approach, whereby we calculate the fair value of a reporting unit based on the present value of estimated future cash flows. A discounted cash flow analysis requires us to make various judgmental assumptions about future sales, operating margins, growth rates and discount rate, which are based on our budgets, business plans, economic projections, anticipated future cash flows and market participants. Based on our year-end annual analysis, we did not record an impairment of goodwill in 2024, 2023 or 2022. The FPD reporting unit is primarily focused on highly custom engineered pumps, pre-configured industrial pumps, pump systems, mechanical seals, auxiliary systems and replacement parts and related services. As of December 31, 2024 our FPD reporting unit had approximately $766 million of goodwill and an estimated fair value that exceeded its carrying value. The FCD reporting unit is primarily focused on a broad portfolio of engineered-to-order and configured-to-order isolation valves, control valves, valve automation products and related equipment. As of December 31, 2024 our FCD reporting unit had approximately $521 million of goodwill and an estimated fair value that exceeded its carrying value. The key factors considered in determining the estimated fair value of our reporting units included the annual operating plan and forecasted operating results, successful execution of our current continuous improvement and identified strategic initiatives, cost of capital, continued stabilization and mid to long-term improvement of the macro-economic conditions of the industries we serve, and a relatively stable global gross domestic product. Although we have concluded that there is no impairment on the goodwill associated with our reporting units as of December 31, 2024, we will continue to closely monitor performance and related market conditions for future indicators of potential impairment and reassess accordingly. We also considered our market capitalization in our evaluation of the fair value of our goodwill. Our market capitalization as of December 31, 2024 was favorable compared with 2023 and did not indicate a potential impairment of our goodwill as of December 31, 2024. Impairment losses for indefinite-lived intangible assets are recognized whenever the estimated fair value is less than the carrying value. Fair values are calculated for trademarks using a "relief from royalty" method, which estimates the fair value of a trademark by determining the present value of estimated royalty payments that are avoided as a result of owning the trademark. This method includes judgmental assumptions about sales growth and discount rates that have a significant impact on the fair value and are substantially consistent with the assumptions used to determine the fair value of our reporting unit discussed above. We did not record a material impairment of our trademarks in 2024, 2023 or 2022 . The recoverable value of other long-lived assets, including property, plant and equipment and finite-lived intangible assets, is reviewed when indicato

Acquisition

Acquisition	12 Months Ended
	Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Acquisition	ACQUISITION On October 15, 2024, we acquired for inclusion in FCD, all of the equity interests of MOGAS Industries, Inc., MOGAS Real Estate LLC and MOGAS Systems & Consulting LLC (such entities collectively, "MOGAS"), for a purchase price of $290.0 million, subject to additional closing working capital adjustments of $13.0 million and net of cash acquired of $3.1 million, and an incremental contingent earn-out payment of up to $15.0 million based on MOGAS's achievement of certain financial goals for the calendar year ended December 31, 2024. The additional earn-out consideration will be paid in the first quarter of 2025 and the value was determined based on contractual provisions set forth in the purchase agreement. MOGAS, a privately held provider of mission-critical severe service valves and associated aftermarket services, is based in Houston, Texas and has operations primarily in North America and, to a lesser extent, Europe and Asia Pacific. The acquisition was funded using a combination of cash on hand and term loan financing under our Second Amended and Restated Credit Agreement discussed in Note 13, "Debt and Finance Lease Obligations." MOGAS's differentiated valve products are expected to enhance our installed base, creating meaningful aftermarket opportunities with the addition of MOGAS's strong brand, heritage, and technical expertise in diverse and attractive end markets, including the growing mining industry. The acquisition is accounted for as a business combination under Accounting Standards Codification 805, Business Combinations , using the acquisition method of accounting. The fair value of assets acquired and liabilities assumed has been recorded on a preliminary basis, including the valuation of intangible assets and opening balance sheet accounts subject to final working capital adjustments. We will continue to evaluate the initial fair values, which may be adjusted as additional information relative to the fair values of the assets and liabilities becomes available. The estimates will be finalized within one year from the date of acquisition. The preliminary allocation of the purchase price is summarized below: (Amounts in millions) Accounts receivable $ 55.0 Contract assets 13.7 Inventories 45.3 Prepaid expenses and other 4.6 Indemnification asset 7.5 Total current assets 126.1 Intangible assets Trademark 19.0 Existing customer relationships 48.5 Backlog 10.5 Total intangible assets 78.0 Property, plant and equipment 41.9 Right-of-use assets 1.0 Total assets 247.0 Current liabilities (58.8) Noncurrent liabilities (0.5) Net assets 187.7 Goodwill 127.2 Purchase price, net of cash acquired of $3.1 million $ 314.9 The excess of the acquisition date fair value of the total purchase price over the estimated fair value of the net assets was recorded as goodwill. Goodwill of $127.2 million represents the value expected to be obtained from expanding Flowserve's market presence and strengthening our portfolio of products and services through the addition of MOGAS's valve products. The goodwill related to this acquisition is recorded in the FCD segment and is expected to be fully deductible for tax purposes. The trademark is an indefinite-lived intangible. Existing customer relationships and backlog have expected weighted average useful lives of 10 years and one year, respectively. In total, amortizable intangible assets have a weighted average useful live of approximately 8 years. We recorded an indemnification asset and corresponding liability of $7.5 million related to unresolved legal matters that existed pre-acquisition, for which the seller has agreed to indemnify us. The indemnification asset and liability are included within prepaid expenses and other and accrued liabilities, respectively, in our consolidated balance sheet. Subsequent to October 15, 2024, the revenues and expenses of MOGAS have been included in our consolidated statement of income. The MOGAS acquisition generated sales of approximately $37 million for the period from October 15, 2024 to December 31, 2024 and decreased Flowserve's earnings by approximately $3 million. No proforma financial information has been presented due to immateriality. Flowserve incurred $10 million in acquisition and integration-related costs in 2024 associated with the transaction which are included within SG&A in our consolidated statement of income.

Revenue Recognition

Revenue Recognition	12 Months Ended
	Dec. 31, 2024
Revenue Recognition and Deferred Revenue [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. More complex contracts with our customers typically have longer lead times and multiple commitments of goods and services, including any combination of designing, developing, manufacturing, modifying, installing and commissioning of flow management equipment and providing services and parts related to the performance of such products. Control transfers over time when the customer is able to direct the use of and obtain substantially all of the benefits of our work as we perform. Service-related revenues do not typically represent a significant portion contracts with our customers and do not meet the thresholds requiring separate disclosure. Revenue from products and services transferred to customers over time accounted for approximately 17%, 16% and 13% of total revenue for the years ended December 31, 2024, 2023 and 2022, respectively. Our primary method for recognizing revenue over time is the POC method. If control does not transfer over time, then control transfers at a point in time. For both POC and point-in-time methods, w e recognize revenue 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 83%, 84% and 87% of total revenue for the years ended December 31, 2024, 2023 and 2022, respectively. Disaggregated Revenue We conduct our operations through two business segments based on the type of product and how we manage the business: • FPD designs, manufactures, pretests, distributes and services highly custom engineered pumps, pre-configured industrial pumps, pump systems, mechanical seals, auxiliary systems and replacement parts and related services; and • 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 generates Original Equipment and Aftermarket revenues. The following table presents our customer revenues disaggregated by revenue source: December 31, 2024 (Amounts in thousands) FPD FCD Total Original Equipment $ 1,152,643 $ 1,065,408 $ 2,218,051 Aftermarket 2,001,508 338,247 2,339,755 $ 3,154,151 $ 1,403,655 $ 4,557,806 December 31, 2023 (Amounts in thousands) FPD FCD Total Original Equipment $ 1,147,906 $ 938,790 $ 2,086,696 Aftermarket 1,913,087 320,794 2,233,881 $ 3,060,993 $ 1,259,584 $ 4,320,577 December 31, 2022 (Amounts in thousands) FPD FCD Total Original Equipment $ 881,061 $ 825,508 $ 1,706,569 Aftermarket 1,636,939 271,612 1,908,551 $ 2,518,000 $ 1,097,120 $ 3,615,120 Our customer sales are diversified geographically. The following table presents our revenues disaggregated by geography, based on the shipping addresses of our customers: December 31, 2024 (Amounts in thousands) FPD FCD Total North America(1) $ 1,291,273 $ 551,101 $ 1,842,374 Latin America(1) 296,474 29,847 326,321 Middle East and Africa 542,399 223,440 765,839 Asia Pacific 425,743 363,868 789,611 Europe 598,262 235,399 833,661 $ 3,154,151 $ 1,403,655 $ 4,557,806 December 31, 2023 (Amounts in thousands) FPD FCD Total North America(1) $ 1,264,673 $ 556,208 $ 1,820,881 Latin America(1) 273,126 30,126 303,252 Middle East and Africa 538,037 146,552 684,589 Asia Pacific 436,813 302,700 739,513 Europe 548,344 223,998 772,342 $ 3,060,993 $ 1,259,584 $ 4,320,577 December 31, 2022 (Amounts in thousands) FPD FCD Total North America(1) $ 1,060,393 $ 472,467 $ 1,532,860 Latin America(1) 222,878 23,575 246,453 Middle East and Africa 372,148 101,017 473,165 Asia Pacific 389,366 305,193 694,559 Europe 473,215 194,868 668,083 $ 2,518,000 $ 1,097,120 $ 3,615,120 _____________________________________ (1) North America represents United States and Canada; Latin America includes Mexico. On December 31, 2024, the aggregate transaction price allocated to unsatisfied (or partially unsatisfied) performance obligations related to contracts having an original expected duration in excess of one year was approximately $853 million. We estimate recognition of approximately $536 million of this amount as revenue in 2025 and an additional $317 million in 2026 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 bill the customer under the terms of a contract. A contract liability represents our contractual billings in advance of revenue recognized for a contract. The following table presents opening and closing balances of contract assets and contract liabilities, current and long-term, for the years ended December 31, 2024 and 2023: ( Amounts in thousands) Contract Assets, net (Current) Long-term Contract Assets, net(1) Contract Liabilities (Current) Long-term Contract Liabilities(2) Balance — January 1, 2023 $ 233,457 $ 297 $ 256,963 $ 1,059 Revenue recognized that was included in contract liabilities at the beginning of the period — — (209,560) — Increase due to revenue recognized in the period in excess of billings 890,150 932 — — Increase due to billings arising during the period in excess of revenue recognized — — 238,683 1,043 Amounts transferred from contract assets to receivables (842,780) (435) — — Currency effects and other, net (599) 240 1,611 (559) Balance — December 31, 2023 $ 280,228 $ 1,034 $ 287,697 $ 1,543 Revenue recognized that was included in contract liabilities at the beginning of the period — — (217,470) (740) Increase due to revenue recognized in the period in excess of billings 958,388 — — — Increase due to billings arising during the period in excess of revenue recognized — — 214,163 — Amounts transferred from contract assets to receivables (920,793) (656) — — Currency effects and other, net (18,917) 545 (720) (130) Balance — December 31, 2024 $ 298,906 $ 923 $ 283,670 $ 673 _____________________________________ (1) Included in other assets, net. (2) Included in retirement obligations and other liabilities.

Allowance for Expected Credit L

Allowance for Expected Credit Losses	12 Months Ended
	Dec. 31, 2024
Credit Loss [Abstract]
Allowance for Expected Credit Losses	ALLOWANCE FOR EXPECTED CREDIT LOSSES The allowance for credit losses is an estimate of the credit losses expected over the life of our financial assets and instruments. We assess and measure expected credit losses on a collective basis when similar risk characteristics exist, including market, geography, credit risk and remaining duration. Financial assets and instruments that do not share risk characteristics are evaluated on an individual basis. Our estimate of the allowance balance is assessed and quantified using internal and external valuation information relating to past events, current conditions and reasonable and supportable forecasts over the contractual terms of an asset. Our primary exposure to expected credit losses is through our accounts receivable 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. Accounts receivable are written off against the allowance in the period when the receivable is deemed to be uncollectible and further collection efforts have ceased. Subsequent recoveries of previously written off amounts are reflected as a reduction to credit impairment losses in the 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 accounts receivable and short-term contract assets as of December 31, 2024, 2023 and 2022: (Amounts in thousands) Accounts receivable Short-term contract assets Beginning balance, January 1, 2024 $ 80,013 $ 4,993 Charges to cost and expenses, net of recoveries 11,836 305 Write-offs (8,160) (1,781) Currency effects and other, net (4,630) (113) Ending balance, December 31 , 2024 $ 79,059 $ 3,404 Beginning balance, January 1, 2023 $ 83,062 $ 5,819 Charges to cost and expenses, net of recoveries 5,597 — Write-offs (10,947) (1,450) Currency effects and other, net 2,301 624 Ending balance, December 31 , 2023 $ 80,013 $ 4,993 Beginning balance, January 1, 2022 $ 74,336 $ 2,393 Charges to cost and expenses, net of recoveries 12,530 2,785 Write-offs (3,188) — Currency effects and other, net (616) 641 Ending balance, December 31 , 2022 $ 83,062 $ 5,819 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 as of December 31, 2024, 2023 and 2022: (Amounts in thousands) 2024 2023 2022 Beginning balance, January 1, $ 66,864 $ 66,377 $ 67,696 Currency effects and other, net (783) 487 (1,319) Ending balance, December 31, $ 66,081 $ 66,864 $ 66,377 We also have exposure to credit losses from off-balance sheet exposures, such as financial guarantees and standby letters of credit, where we believe the risk of loss is immaterial to our financial statements as of December 31, 2024 .

Leases

Leases	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Leases	LEASES We had $0.4 million and $4.0 million of legally binding minimum lease payments for operating leases signed but not yet commenced as of December 31, 2024 and 2023. We did not have material subleases, leases that imposed significant restrictions or covenants, material related party leases or sale-leaseback arrangements. In conjunction with our close process for the third quarter of 2022, the Company identified an accounting error related to certain operating real estate leases that have escalating rent payments which were not correctly recorded on a straight-line basis in the amount of $6.4 million. Approximately $5.8 million of the error impacted the Company’s consolidated statements of income prior to adoption of ASU No. 2016-02, Leases (Topic 842) in 2019 and the remaining immaterial amount impacted each period subsequent to adoption. To correct the cumulative impact of the error the Company recorded an adjustment of $6.4 million of incremental operating lease expense in the third quarter of 2022 ($5.5 million classified as SG&A and $0.9 million classified as COS), with the offsetting adjustment to reduce operating lease right-of-use assets, net on our consolidated balance sheet for the period ended September 30, 2022. There was no impact to our statements of cash flows as a result of the correction of the error. Other information related to our leases is as follows: December 31, 2024 2023 (Amounts in thousands) Finance Leases: ROU assets recorded under finance leases $ 32,385 $ 35,523 Accumulated depreciation associated with finance leases (17,020) (16,828) Total finance leases ROU assets, net(1) $ 15,365 $ 18,695 Total finance leases liabilities(2) $ 19,990 $ 19,374 The costs components of operating and finance leases are as follows: December 31, 2024 2023 2022 (Amounts in thousands) Operating Lease Costs: Fixed lease expense(3) $ 57,862 $ 55,588 $ 59,782 Variable lease expense(3) 8,990 8,131 7,412 Total operating lease expense $ 66,852 $ 63,719 $ 67,194 Finance Lease Costs: Depreciation of finance lease ROU assets(3) $ 6,800 $ 6,655 $ 5,984 Interest on lease liabilities(4) 1,047 885 604 Total finance lease expense $ 7,847 $ 7,540 $ 6,588 _____________________ (1) Included in property, plant and equipment, net (2) Included in debt due within one year long-term debt due after one year (3) Included in cost of sales and selling, general and administrative expense, accordingly (4) Included in interest expense Supplemental cash flows information related to our leases is as follows: December 31, (Amounts in thousands, except lease term and discount rate) 2024 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases(1) $ 64,976 $ 62,303 $ 57,712 Financing cash flows from finance leases(2) 6,964 8,234 6,039 ROU assets obtained in exchange for lease obligations: Operating leases $ 51,219 $ 18,570 $ 26,581 Finance leases 8,623 8,259 7,906 Weighted average remaining lease term (in years) Operating leases 7 years 8 years 8 years Finance leases 3 years 5 years 6 years Weighted average discount rate (percent) Operating leases 5.2 % 4.1 % 4.0 % Finance leases 5.6 % 4.6 % 3.9 % _____________________ (1) Included in our consolidated statement of cash flows, operating activities, prepaid expenses and other assets, net and retirement obligations and other (2) Included in our consolidated statement of cash flows, financing activities, payments under other financing arrangements Future undiscounted lease payments under operating and finance leases as of December 31, 2024, were as follows: Year ending December 31, Operating Finance Leases (Amounts in thousands) 2025 41,712 7,430 2026 35,243 5,692 2027 30,024 3,442 2028 25,553 1,703 2029 20,703 781 Thereafter 66,382 3,565 Total future minimum lease payments $ 219,617 $ 22,613 Less: Imputed interest (36,220) (2,623) Total $ 183,397 $ 19,990 Other current liabilities $ 33,559 $ — Operating lease liabilities 149,838 — Debt due within one year — 6,505 Long-term debt due after one year — 13,485 Total $ 183,397 $ 19,990
Leases	LEASES We had $0.4 million and $4.0 million of legally binding minimum lease payments for operating leases signed but not yet commenced as of December 31, 2024 and 2023. We did not have material subleases, leases that imposed significant restrictions or covenants, material related party leases or sale-leaseback arrangements. In conjunction with our close process for the third quarter of 2022, the Company identified an accounting error related to certain operating real estate leases that have escalating rent payments which were not correctly recorded on a straight-line basis in the amount of $6.4 million. Approximately $5.8 million of the error impacted the Company’s consolidated statements of income prior to adoption of ASU No. 2016-02, Leases (Topic 842) in 2019 and the remaining immaterial amount impacted each period subsequent to adoption. To correct the cumulative impact of the error the Company recorded an adjustment of $6.4 million of incremental operating lease expense in the third quarter of 2022 ($5.5 million classified as SG&A and $0.9 million classified as COS), with the offsetting adjustment to reduce operating lease right-of-use assets, net on our consolidated balance sheet for the period ended September 30, 2022. There was no impact to our statements of cash flows as a result of the correction of the error. Other information related to our leases is as follows: December 31, 2024 2023 (Amounts in thousands) Finance Leases: ROU assets recorded under finance leases $ 32,385 $ 35,523 Accumulated depreciation associated with finance leases (17,020) (16,828) Total finance leases ROU assets, net(1) $ 15,365 $ 18,695 Total finance leases liabilities(2) $ 19,990 $ 19,374 The costs components of operating and finance leases are as follows: December 31, 2024 2023 2022 (Amounts in thousands) Operating Lease Costs: Fixed lease expense(3) $ 57,862 $ 55,588 $ 59,782 Variable lease expense(3) 8,990 8,131 7,412 Total operating lease expense $ 66,852 $ 63,719 $ 67,194 Finance Lease Costs: Depreciation of finance lease ROU assets(3) $ 6,800 $ 6,655 $ 5,984 Interest on lease liabilities(4) 1,047 885 604 Total finance lease expense $ 7,847 $ 7,540 $ 6,588 _____________________ (1) Included in property, plant and equipment, net (2) Included in debt due within one year long-term debt due after one year (3) Included in cost of sales and selling, general and administrative expense, accordingly (4) Included in interest expense Supplemental cash flows information related to our leases is as follows: December 31, (Amounts in thousands, except lease term and discount rate) 2024 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases(1) $ 64,976 $ 62,303 $ 57,712 Financing cash flows from finance leases(2) 6,964 8,234 6,039 ROU assets obtained in exchange for lease obligations: Operating leases $ 51,219 $ 18,570 $ 26,581 Finance leases 8,623 8,259 7,906 Weighted average remaining lease term (in years) Operating leases 7 years 8 years 8 years Finance leases 3 years 5 years 6 years Weighted average discount rate (percent) Operating leases 5.2 % 4.1 % 4.0 % Finance leases 5.6 % 4.6 % 3.9 % _____________________ (1) Included in our consolidated statement of cash flows, operating activities, prepaid expenses and other assets, net and retirement obligations and other (2) Included in our consolidated statement of cash flows, financing activities, payments under other financing arrangements Future undiscounted lease payments under operating and finance leases as of December 31, 2024, were as follows: Year ending December 31, Operating Finance Leases (Amounts in thousands) 2025 41,712 7,430 2026 35,243 5,692 2027 30,024 3,442 2028 25,553 1,703 2029 20,703 781 Thereafter 66,382 3,565 Total future minimum lease payments $ 219,617 $ 22,613 Less: Imputed interest (36,220) (2,623) Total $ 183,397 $ 19,990 Other current liabilities $ 33,559 $ — Operating lease liabilities 149,838 — Debt due within one year — 6,505 Long-term debt due after one year — 13,485 Total $ 183,397 $ 19,990

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	12 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	GOODWILL AND OTHER INTANGIBLE ASSETS The changes in the carrying amount of goodwill for the years ended December 31, 2024 and 2023 are as follows: FPD FCD Total (Amounts in thousands) Balance as of December 31, 2022 $ 772,273 $ 395,851 $ 1,168,124 Currency translation and other 7,723 6,378 14,101 Balance as of December 31, 2023 $ 779,996 $ 402,229 $ 1,182,225 Acquisition(1) — 127,249 127,249 Currency translation and other (14,256) (8,923) (23,179) Balance as of December 31, 2024 $ 765,740 $ 520,555 $ 1,286,295 ____________________________________ (1) Goodwill addition is related to the acquisition of MOGAS. See Note 2, "Acquisitions" for additional information. The following table provides information about our intangible assets for the years ended December 31, 2024 and 2023: December 31, 2024 December 31, 2023 Useful Ending Accumulated Ending Accumulated (Amounts in thousands, except years) Finite-lived intangible assets: Engineering drawings(1) 10-22 $ 89,529 $ (89,529) $ 92,105 $ (91,808) Existing customer relationships(2) 5-10 126,761 (79,039) 80,643 (76,121) Patents 9-16 25,086 (25,086) 26,388 (26,388) Other 1-40 102,634 (58,800) 92,307 (55,001) $ 344,010 $ (252,454) $ 291,443 $ (249,318) Indefinite-lived intangible assets(3) $ 98,721 $ (1,673) $ 81,824 $ (1,701) ____________________________________ (1) Engineering drawings represent the estimated fair value associated with specific acquired product and component schematics. (2) Includes customer relationships acquired as part of the MOGAS acquisition with useful lives of 5 and 10 years. Existing customer relationships acquired prior to 2011 had a useful life of five years. (3) Includes the acquisition of the MOGAS trademark in 2024. Accumulated amortization for indefinite-lived intangible assets relates to amounts recorded prior to the implementation date of guidance issued in ASC 350. The following schedule outlines actual amortization expense recognized during 2024 and an estimate of future amortization based upon the finite-lived intangible assets owned at December 31, 2024: Amortization (Amounts in thousands) Actual for year ended December 31, 2024 $ 10,023 Estimated for year ended December 31, 2025 15,476 Estimated for year ended December 31, 2026 7,069 Estimated for year ended December 31, 2027 7,069 Estimated for year ended December 31, 2028 7,069 Estimated for year ended December 31, 2029 6,952 Thereafter 47,921 Amortization expense for finite-lived intangible assets was $11.3 million in 2023 and $11.4 million in 2022.

Inventories

Inventories	12 Months Ended
	Dec. 31, 2024
Inventory Disclosure [Abstract]
Inventories	INVENTORIES Inventories consisted of the following: December 31, 2024 2023 (Amounts in thousands) Raw materials $ 391,562 $ 407,979 Work in process 262,173 302,655 Finished goods 275,975 278,787 Less: Excess and obsolete reserve (92,456) (109,484) Inventories $ 837,254 $ 879,937 During 2024, 2023 and 2022, we recognized expenses of $14.1 million, $21.5 million and $15.4 million, respectively, for excess and obsolete inventory. These expenses are included in COS in our consolidated statements of income.

Stock-Based Compensation Plans

Stock-Based Compensation Plans	12 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation Plans	STOCK-BASED COMPENSATION PLANS Effective January 1, 2020, our shareholders approved the Flowserve Corporation 2020 Long-Term Incentive Plan (“2020 Plan”). The 2020 Plan replaces and supersedes the Flowserve Corporation Equity and Incentive Compensation Plan ("2010 Plan") in its entirety. The 2020 Plan authorizes the issuance of 12,500,000 shares of our common stock in the form of 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, 7,075,917 were available for issuance as of December 31, 2024. 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"). Stock Options — Options granted to officers, other employees and directors allow for the purchase of common shares at the market value of our stock on the date the options are granted. Options generally become exercisable after three years. Options generally expire ten years from the date of the grant or within a short period of time following the termination of employment or cessation of services by an option holder. As of December 31, 2024, 114,943 stock options were outstanding and exercisable, with a grant date fair value of $2.0 million recognized over three years and a weighted average exercise price of $48.63. Compensation cost associated with these stock options has been fully recognized. Using the Black-Scholes option pricing model to estimate the fair value of each option award, as of December 31, 2024 the total fair value of stock options vested was $2.0 million. No stock options were exercised during the years ended December 31, 2024, 2023 or 2022. No stock options were granted, canceled or vested during years ended December 31, 2024, 2023 or 2022. The weighted average remaining contractual life of options outstanding at December 31, 2024, 2023 and 2022 was 2.3 years, 3.3 years and 4.3 years, respectively. Restricted Shares — Generally, the restrictions on Restricted Shares do not expire for a minimum of one year and a maximum of three years, and shares are subject to forfeiture during the restriction period. Most typically, Restricted Share grants have staggered vesting periods over one 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 for awards issued prior to 2024. For awards of Restricted Shares granted beginning in 2024 and subject to the 55/10 Provision, compensation expense is recognized over a required six-month service period. As of December 31, 2024 and 2023, we had $19.2 million and $18.5 million, respectively, of unearned compensation cost related to unvested Restricted Shares, which is expected to be recognized over a remaining weighted-average period of approximately one year, for both periods. This amount will be recognized into net earnings in prospective periods as the awards vest. The total fair value of Restricted Shares vested during the years ended December 31, 2024, 2023 and 2022 was $28.7 million, $24.2 million and $23.5 million, respectively. We recorded stock-based compensation for Restricted Shares as follows: Year Ended December 31, 2024 2023 2022 (Amounts in millions) Stock-based compensation expense $ 30.5 $ 27.8 $ 25.5 Related income tax benefit (6.9) (6.3) (5.8) Net stock-based compensation expense $ 23.6 $ 21.5 $ 19.7 The following table summarizes information regarding Restricted Shares: Year Ended December 31, 2024 Shares Weighted Average Number of unvested Restricted Shares: Outstanding — beginning of year 1,741,486 $ 36.06 Granted 823,703 42.73 Vested (787,870) 36.40 Canceled (110,636) 36.30 Outstanding — end of year 1,666,683 $ 39.18 Unvested Restricted Shares outstanding as of December 31, 2024, includes approximately 520,000 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 and free cash flow as a percent of net income over a three-year period. Performance units issued in 2024, 2023 and 2022 include a secondary measure, relative total shareholder return, which can increase or decrease the number of vesting units by 15% depending on the Company's performance versus peers. Performance units issued have a vesting percentage up to 230%. Compensation expense is recognized ratably over a cliff-vesting period of 36 months, based on the fair value of our common stock on the date of grant, adjusted for actual forfeitures. During the performance period, earned and unearned compensation expense is adjusted based on changes in the expected achievement of the performance targets for all performance-based units granted. Vesting provisions range from 0 to approximately 1,196,000 shares based on performance targets. As of December 31, 2024, we estimate vesting of approximately 520,000 shares based o n expected achievement of performance targets. Employee Stock Purchase Plan — Effective in 2024, we established an employee stock purchase plan ("ESPP") as a means for employees to acquire an equity interest in the Company. The plan is considered compensatory for accounting purposes. Employees may participate in our ESPP provided they meet certain eligibility requirements and may enroll in the ESPP on a monthly basis. The first enrollment period occurred during the fourth quarter of 2024. The current year impact of the ESPP is immaterial, and the impact to future years is also expected to be immaterial.

Derivatives and Hedging Activit

Derivatives and Hedging Activities	12 Months Ended
	Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging Activities	DERIVATIVES AND HEDGING ACTIVITIES Our risk management and foreign currency derivatives and hedging policy specifies the conditions under which we may enter into derivative contracts. See Note 1, "Significant Accounting Policies and Accounting Developments," for additional information on our purpose for entering into derivatives and our overall risk management strategies. We enter into foreign exchange forward contracts to hedge our cash flow risks associated with transactions denominated in currencies other than the local currency of the operation engaging in the transaction. Foreign exchange forward contracts with third parties had notio nal values of $695.9 million and $656.6 million at December 31, 2024 and 2023, respectively. At December 31, 2024, the length of foreign exchange forward contracts currently in place ranged from 7 days to 19 months. We are exposed to risk from credit-related losses resulting from nonperformance by counterparties to our financial instruments. We perform credit evaluations of our counterparties under foreign exchange forward contracts and expect all counterparties to meet their obligations. We have not experienced credit losses from our counterparties. The fair values of foreign exchange contracts are summarized below: Year Ended December 31, 2024 2023 (Amounts in thousands) Current derivative assets $ 4,633 $ 1,915 Noncurrent derivative assets 13 17 Current derivative liabilities 4,926 3,855 Noncurrent derivative liabilities 374 5 Current and noncurrent derivative assets are reported in our consolidated balance sheets in prepaid expenses and other and other assets, net, respectively. Current and noncurrent derivative liabilities are reported in our consolidated balance sheets in accrued liabilities and retirement obligations and other liabilities, respectively. The impact of net changes in the fair values of foreign exchange contracts are summarized below: Year Ended December 31, 2024 2023 2022 (Amounts in thousands) Gains (losses) recognized in income $ 9,823 $ (12,914) $ (6,173) Gains and losses recognized in our 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 entered into cross-currency swap agreements ("Swaps") as a hedge of our Euro investment in certain of our international subsidiaries. Accordingly, on April 14, 2021 and March 9, 2021, we entered into Swaps, with both having termination dates of October 1, 2030 and the March 9, 2021 c ross currency swap having an early termination date of March 11, 2025. Also, during the third quarter of 2020 we entered into a cross currency swap agreement with a termination date of October 1, 2030 and an early termination date of September 22, 2025. The swap agreements were designated as net investment hedges and classified as Level II under the fair value hierarchy. On December 20, 2022 all outstanding swap agreements were early terminated resulting in net cash proceeds received of $66.0 million. Prior to the early termination the cross-currency swaps had a combined notional value of €423.2 million and a fair value of $68.2 million. We excluded 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 swap 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 were reported in accumulated other comprehensive loss ("AOCL") on our consolidated balance sheets. For the period ended December 31, 2022 , an interest accrual of $8.5 million was recogniz ed within interest expense in our consolidated statements of income. The cumulative net investment hedge (gain) loss, net of deferred taxes, under cross-currency swaps recorded in AOCL on our consolidated balance sheets are summarized below: Year Ended December 31, 2024 2023 2022 (Amounts in thousands) (Gain) loss-included component (1) $ — $ — $ (37,135) (Gain) loss-excluded component (2) — — (11,875) (Gain) loss recognized in AOCL $ — $ — $ (49,010) _____________________________________________ (1) Change in the fair value of the swaps attributable to changes in spot rates.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	FAIR VALUE OF FINANCIAL INSTRUMENTS Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Where available, fair value is based on observable market prices or parameters or derived from such prices or parameters. Where observable prices or inputs are not available, valuation models may be applied. Assets and liabilities recorded at fair value in our consolidated balance sheets are categorized by hierarchical levels based upon the level of judgment associated with the inputs used to measure their fair values. Recurring fair value measurements are limited to investments in derivative instruments and contingent consideration arising from the recently completed MOGAS acquisition. 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 above in Note 9, "Derivatives and Hedging Activities." The fair value of the MOGAS related contingent consideration was determined based on contractual provisions set forth in the purchase agreement. The carrying value of our financial instruments as reflected in our 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, approximates 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 13, "Debt and Finance Lease Obligations." The estimated fair value of our Senior Notes at December 31, 2024 was $879.4 million compared to the carrying value of $991.5 million. The estimated fair value of the Senior Notes is based on Level I quoted market rates. Th e carrying amounts of our other financial instruments (e.g., cash and cash equivalents, accounts receivable, net and accounts payable and short-term debt) approximated fair value due to their short-term nature at December 31, 2024 and December 31, 2023.

Details of Certain Consolidated

Details of Certain Consolidated Balance Sheet Captions	12 Months Ended
	Dec. 31, 2024
Details of Certain Consolidated Balance Sheet Captions [Abstract]
Details of Certain Consolidated Balance Sheet Captions	DETAILS OF CERTAIN CONSOLIDATED BALANCE SHEET CAPTIONS The following tables present financial information of certain consolidated balance sheets captions. Accounts Receivable, net — Accounts receivable, net were: December 31, 2024 2023 (Amounts in thousands) Trade accounts receivables $ 1,026,891 $ 935,297 Less: allowance for expected credit losses (70,369) (67,487) Other short-term receivables 28,907 26,585 Less: allowance for expected credit losses (8,690) (12,526) Accounts receivable, net $ 976,739 $ 881,869 Property, Plant and Equipment, net — Property, plant and equipment, net were: December 31, 2024 2023 (Amounts in thousands) Land $ 61,351 $ 60,312 Buildings and improvements 450,718 427,332 Machinery, equipment and tooling 803,355 781,771 Software, furniture and fixtures and other 366,946 395,194 Gross property, plant and equipment 1,682,370 1,664,609 Less: accumulated depreciation (1,142,667) (1,158,451) Property, plant and equipment, net $ 539,703 $ 506,158 Accrued Liabilities — Accrued liabilities were: December 31, 2024 2023 (Amounts in thousands) Wages, compensation and other benefits $ 260,481 $ 264,914 Commissions and royalties 31,344 20,570 Warranty costs and late delivery penalties 31,290 26,521 Sales and use tax 29,247 25,880 Income tax 28,003 24,643 Other 181,121 141,902 Accrued liabilities $ 561,486 $ 504,430 "Other" accrued liabilities include professional fees, lease obligations, insurance, interest, freight, accrued cash dividends payable, legal and environmental matters, derivative liabilities, restructuring reserves and other items, none of which individually exceed 5% of current lia bilities. Retirement Obligations and Other Liabilities — Retirement obligations and other liabilities were: December 31, 2024 2023 (Amounts in thousands) Pension and postretirement benefits $ 195,436 $ 202,583 Deferred taxes 1,775 1,335 Legal and environmental 99,984 93,989 Uncertain tax positions and other tax liabilities 40,172 51,584 Other 33,688 39,629 Retirement obligations and other liabilities $ 371,055 $ 389,120 "Other" includes derivative liabilities, deferred compensation liabilities, asset retirement obligations, insurance-related liabilities and other items, none of which exceed 5% of total liabilities.

Equity Method Investments

Equity Method Investments	12 Months Ended
	Dec. 31, 2024
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments	EQUITY METHOD INVESTMENTS We occasionally enter into joint venture arrangements with local country partners as our preferred means of entry into countries where barriers to entry may exist. Similar to our consolidated subsidiaries, these unconsolidated joint ventures generally operate within our primary businesses of designing, manufacturing, assembling and distributing fluid motion and control products and services. We have agreements with certain of these joint ventures that restrict us from otherwise entering the respective market and certain joint ventures produce and/or sell our products as part of their broader product offering. Net earnings from investments in unconsolidated joint ventures is reported in net earnings from affiliates in our consolidated statements of income. Given the integrated role of the unconsolidated joint ventures in our business, net earnings from affiliates is presented as a component of operating income. As of December 31, 2024, we had investments in five joint ventures, one located in each of Chile, India, Saudi Arabia, South Korea and the United Arab Emirates that were accounted for using the equit y method and are immaterial for disclosure purposes.

Debt and Finance Lease Obligati

Debt and Finance Lease Obligations	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Debt and Finance Lease Obligations	DEBT AND FINANCE LEASE OBLIGATIONS Debt, including finance lease obligations, net of discounts and debt issuance costs, consisted of: December 31, 2024 2023 (Amounts in thousands) 3.50% USD Senior Notes due October 1, 2030, net of unamortized discount and debt issuance costs of $3,882 and $4,479 at December 31, 2024 and 2023, respectively 496,118 495,521 2.80% USD Senior Notes due January 15, 2032, net of unamortized discount and debt issuance costs of $4,585 and $5,164 at December 31, 2024 and 2023, respectively 495,415 494,836 Term Loan Facility, interest rate of 5.80% and 6.70%, net of debt issuance costs of $993 and $274 at December 31, 2024 and 2023, respectively 489,632 219,726 Finance lease obligations and other borrowings 23,026 23,467 Debt and finance lease obligations 1,504,191 1,233,550 Less amounts due within one year 44,059 66,243 Total debt due after one year $ 1,460,132 $ 1,167,307 Scheduled maturities of our Senior Notes and other debt, are (amounts in thousands): Term Loan Senior Notes and other debt Total (Amounts in thousands) 2025 $ 37,243 $ 6,559 $ 43,802 2026 40,388 16,468 56,856 2027 56,038 — 56,038 2028 74,822 — 74,822 2029 281,141 — 281,141 Thereafter — 991,532 991,532 Total $ 489,632 $ 1,014,559 $ 1,504,191 Senior Credit Facility On September 13, 2021, we amended and restated our credit agreement (the "Senior Credit Agreement") under our Senior Credit Facility (the "Credit Facility") with Bank of America, N.A. and the other lenders to provide greater flexibility in maintaining adequate liquidity and access to available borrowings. The Senior Credit Agreement, (i) retained, from the previous credit agreement, the $800.0 million unsecured Revolving Credit Facility (the "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 $300.0 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. On February 3, 2023, we amended our Senior Credit Agreement (the “Amendment”) to (i) replace LIBOR with Secured Overnight Financing Rate (“SOFR”) as the benchmark reference rate, (ii) lower the Material Acquisition (as defined in the Senior Credit Agreement) threshold from $250.0 million to $200.0 million and (iii) extend compliance dates for certain financial covenants. On October 10, 2024, we entered into a Second Amended and Restated Credit Agreement (the "Second Amended and Restated Credit Agreement") with Bank of America, N.A., as administrative agent, and the other lenders (together, the "Lenders") and letter of credit issuers party thereto to (i) retain from the Senior Credit Agreement the $800.0 million Revolving Credit Facility, and the right, subject to certain conditions including Lenders approval of such increase, to increase the amount of such Revolving Credit Facility by an aggregate amount not to exceed $400.0 million, (ii) increase our Term Loan from $300.0 million to $500.0 million, and (iii) extend the maturity date to October 10, 2029. We believe this Second Amended and Restated Credit Agreement will provide greater flexibility and additional liquidity as we continue to pursue our business goals and strategy. Most other terms and conditions under the previous Senior Credit Agreement remained unchanged. Under the terms and conditions of the Second Amended and Restated Credit Agreement, the interest rates per annum applicable to the Revolving Credit Facility and Term Loan, other than with respect to swing line loans, are adjusted Term Secured Overnight Financing Rate ("Adjusted Term SOFR") 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 Second Amended and Restated Credit Agreement) plus between 0.000% to 0.750% depending on our debt rating by either Moody’s or S&P. At December 31, 2024, the interest rate on the Revolving Credit Facility was the Adjusted Term SOFR plus 1.375% in the case of Adjusted Term SOFR 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 Revolving Credit Facility. The commitment fee will be between 0.080% and 0.250% of unused amounts under the Revolving Credit Facility depending on our debt rating by either Moody’s or S&P. The commitment fee was 0.175% (per annum) during the period ended December 31, 2024. At December 31, 2024, the interest rate on the Term Loan was Adjusted Term SOFR plus 1.375% in the case of Adjusted Term SOFR loans and the Base Rate plus 0.250% in the case of Base Rate loans. As of December 31, 2024 and December 31, 2023, we had no revolving loans outstanding. We had outstanding letters of credit of $144.0 million and $127.1 million at December 31, 2024, and December 31, 2023, respectively. After consideration of the outstanding letters of credit as of December 31, 2024, the amount available for borrowings under our Revolving Credit Facility was limited to $656.0 million. As of December 31, 2023, the amount available for borrowings under our Revolving Credit Facility was $672.9 million. We have scheduled repayments of $9.4 million, on the Term Loan, due in each of the subsequent four quarters through December 31, 2025. Financial Covenants — Our compliance with the financial covenants under the Second Amended and Restated Credit Agreement are tested quarterly. We were in compliance with all covenants as of December 31, 2024.

Pension and Postretirement Bene

Pension and Postretirement Benefits	12 Months Ended
	Dec. 31, 2024
Retirement Benefits [Abstract]
Pension and Postretirement Benefits	PENSION AND POSTRETIREMENT BENEFITS We sponsor several noncontributory defined benefit pension plans, covering substantially all U.S. employees and certain non-U.S. employees, which provide benefits based on years of service, age, job grade levels and type of compensation. Retirement benefits for all other covered employees are provided through contributory pension plans, cash balance pension plans and government-sponsored retirement programs. All funded defined benefit pension plans receive funding based on independent actuarial valuations to provide for current service and an amount sufficient to amortize unfunded prior service over periods not to exceed 30 years, with funding falling within the legal limits prescribed by prevailing regulation. We also maintain unfunded defined benefit plans that, as permitted by local regulations, receive funding only when benefits become due. Our defined benefit plan strategy is to ensure that current and future benefit obligations are adequately funded in a cost-effective manner. Additionally, our investing objective is to achieve the highest level of investment performance that is compatible with our risk tolerance and prudent investment practices. Because of the long-term nature of our defined benefit plan liabilities, our funding strategy is based on a long-term perspective for formulating and implementing investment policies and evaluating their investment performance. The asset allocation of our defined benefit plans reflects our decision about the proportion of the investment in equity and fixed income securities, and, where appropriate, the various sub-asset classes of each. At least annually, we complete a comprehensive review of our asset allocation policy and the underlying assumptions, which includes our long-term capital markets rate of return assumptions and our risk tolerances relative to our defined benefit plan liabilities. The expected rates of return on defined benefit plan assets are derived from review of the asset allocation strategy, expected long-term performance of asset classes, risks and other factors adjusted for our specific investment strategy. These rates are impacted by changes in general market conditions, but because they are long-term in nature, short-term market changes do not significantly impact the rates. Our U.S. defined benefit plan assets consist of a portfolio of equity and fixed income securities. Our non-U.S. defined benefit plan assets include a significant concentration of United Kingdom fixed income securities. We monitor investment allocations and manage plan assets to maintain acceptable levels of risk. For all periods presented, we used a measurement date of December 31 for each of our U.S. pension plans, non-U.S. pension plans and postretirement medical plans. U.S. Defined Benefit Plans We maintain qualified and non-qualified defined benefit pension plans in the U.S. The qualified plan provides coverage for substantially all full-time U.S. employees who receive benefits, up to an earnings threshold specified by the U.S. Department of Labor. The non-qualified plans primarily cover a small number of employees including current and former members of senior management, providing them with benefit levels equivalent to other participants, but that are otherwise limited by U.S. Department of Labor rules. The U.S. plans are designed to operate as "cash balance" arrangements, under which the employee has the option to take a lump sum payment at the end of their service. The difference between total accumulated benefit obligation and total projected benefit obligation ("Benefit Obligation") is immaterial. In August 2023, we amended the Company-sponsored qualified defined benefit pension plan in the United States (the "Qualified Plan") for non-union employees to discontinue future benefit accruals under the Qualified Plan and freeze existing accrued benefits effective January 1, 2025. Benefits earned by participants under the Qualified Plan prior to January 1, 2025, are not affected. We also amended the Company-sponsored non-qualified defined benefit pension plan in the United States (the "Non-Qualified Plan") that provides enhanced retirement benefits to select members of management. The Qualified Plan and the Non-Qualified plan were closed to new entrants effective January 1, 2024, and September 1, 2023, respectively. The amendments resulted in a curtailment of both plans during the year ended December 31, 2023. The curtailment loss incurred and the change in projected benefit obligation was immaterial. In conjunction with the amendment of the Qualified Plan, the Organization and Compensation Committee of our Board of Directors approved certain transition benefits associated with freezing the Qualified Plan. In January 2025, a one-time cash transition benefit was paid to a limited group of employees in the United States that met certain criteria. We recorded a $5.0 million liability for the period ended December 31, 2024, which is included within accrued liabilities in our consolidated balance sheet to recognize this obligation, with corresponding expense included within COS and SG&A in our consolidated statements of income. We also issued approximately the same amount of value in the form of restricted shares to an additional group of employees in the United States in January 2025. The restricted shares are subject to three year cliff-vesting. The following are assumptions related to the U.S. defined benefit pension plans: Year Ended December 31, 2024 2023 2022 Weighted average assumptions used to determine Benefit Obligations: Discount rate 5.73 % 5.41 % 5.73 % Rate of increase in compensation levels 4.00 4.00 3.50 Weighted average assumptions used to determine net pension expense: Long-term rate of return on assets 6.00 % 6.00 % 5.75 % Discount rate 5.41 5.73 3.00 Rate of increase in compensation levels 4.00 3.50 3.50 Weighted-average interest crediting rates 4.00 % 4.00 % 3.79 % At December 31, 2024 as compared with December 31, 2023, we in creased our discount rate from 5.41% to 5.73% based on an analysis of publicly traded investment grade U.S. corporate bonds, which had a higher yield due to current market conditions. In determining 2024 expense, the expected rate of return on U.S. plan assets is 6.00%, primarily based on our target allocations and expected long-term asset returns. The long-term rate of return assumption is calculated using a quantitative approach that utilizes historical returns and asset allocation as inputs for the calculation. For all U.S. plans, we adopted the Pri-2012 mortality tables and the MP-2021 improvement scale published in October 2021. We applied the Pri-2012 tables based on the constituency of our plan population for union and non-union participants. We adjusted the improvement scale to utilize the Proxy SSA Long Term Improvement Rates, consistent with assumptions adopted by the Social Security Administration trustees, based on long-term historical experience. Currently, we believe this approach provides the best estimate of our future obligation. Most plan participants elect to receive plan benefits as a lump sum at the end of service, rather than an annuity. As such, the updated mortality tables had an immaterial effect on our pension obligation. Net pension expense for the U.S. defined benefit pension plans (including both qualified and non-qualified plans) was: Year Ended December 31, 2024 2023 2022 (Amounts in thousands) Service cost $ 23,935 $ 21,341 $ 24,680 Interest cost 20,759 20,480 13,157 Expected return on plan assets (23,235) (23,931) (25,345) Settlement loss — 15 — Amortization of unrecognized prior service cost 194 185 175 Amortization of unrecognized net (gain) loss — (13) 3,461 U.S. net pension expense $ 21,653 $ 18,077 $ 16,128 The following summarizes the net pension (liability) asset for U.S. plans: December 31, 2024 2023 (Amounts in thousands) Plan assets, at fair value $ 352,517 $ 361,174 Benefit Obligation (415,236) (417,648) Funded status $ (62,719) $ (56,474) The following summarizes amounts recognized in the balance sheet for U.S. plans: December 31, 2024 2023 (Amounts in thousands) Current liabilities (154) (169) Noncurrent liabilities (62,565) (56,305) Funded status $ (62,719) $ (56,474) The following is a summary of the changes in the U.S. defined benefit plans’ pension obligations: December 31, 2024 2023 (Amounts in thousands) Balance — January 1 $ 417,648 $ 382,959 Service cost 23,935 21,341 Interest cost 20,759 20,480 Plan amendments and settlements — (3,103) Actuarial loss (gain) (1) (6,588) 31,912 Benefits paid (40,518) (35,941) Balance — December 31 $ 415,236 $ 417,648 Accumulated benefit obligations at December 31 $ 415,236 $ 417,648 _______________________________________ (1) The actuarial gain in 2024 and loss in 2023 primarily reflect the impact of changes in the discount rate. The increase in the interest crediting rate assumption also contributed to the actuarial loss in 2023. The following table summarizes the expected cash benefit payments for the U.S. defined benefit pension plans in the future (amounts in millions): 2025 $ 43.1 2026 40.2 2027 38.3 2028 35.3 2029 33.5 2030-2034 150.6 The following table shows the change in accumulated other comprehensive loss attributable to the components of the net cost and the change in Benefit Obligations for U.S. plans, net of tax: December 31, 2024 2023 (Amounts in thousands) Balance — January 1 $ (62,602) $ (44,455) Amortization of net (gain) loss — (10) Amortization of prior service cost 148 141 Net loss arising during the year (4,143) (20,362) Settlement loss and other — 2,140 Prior service cost arising during the year — (56) Balance — December 31 $ (66,597) $ (62,602) Amounts recorded in accumulated other comprehensive loss consist of: December 31, 2024 2023 (Amounts in thousands) Unrecognized net loss $ (66,024) $ (61,904) Unrecognized prior service cost (573) (698) Accumulated other comprehensive loss, net of tax $ (66,597) $ (62,602) The following is a reconciliation of the U.S. defined benefit pension plans’ assets: December 31, 2024 2023 (Amounts in thousands) Balance — January 1 $ 361,174 $ 365,044 Gain (loss) on plan assets 11,121 29,323 Company contributions 20,740 3,143 Benefits paid (40,518) (35,941) Settlements — (395) Balance — December 31 $ 352,517 $ 361,174 We contribu ted $20.7 million and $3.1 million to the U.S. defined benefit pension plans during 2024 and 2023, respectively. All U.S. defined benefit plan assets are held by the qualified plan. The asset allocations for the qualified plan at the end of 2024 and 2023 by asset category, are as follows: Target Allocation Percentage of Actual Plan Assets at December 31, Asset category 2024 2023 2024 2023 Cash and cash equivalents 1 % 1 % 1 % 2 % Cash and cash equivalents 1 % 1 % 1 % 2 % Global Equity 24 % 20 % 24 % 21 % Global Real Assets 18 % 14 % 19 % 15 % Equity securities 42 % 34 % 43 % 36 % Diversified Credit 18 % 14 % 18 % 15 % Liability-Driven Investment 39 % 51 % 38 % 47 % Fixed income 57 % 65 % 56 % 62 % None of our common stock is directly held by our qualified plan. Our investment strategy is to earn a long-term rate of return consistent with an acceptable degree of risk and minimize our cash contributions over the life of the plan, while taking into account the liquidity needs of the plan. We preserve capital through diversified investments in high quality securities. Our current allocation target is to invest approximately 42% of plan assets in equity securities and 57% in fixed income securities. Within each investment category, assets are allocated to various investment strategies. Professional money management firms manage our assets, and we engag e a consultant to assist in evaluating these activities. We periodically review the allocation target, generally in conjunction with an asset and liability study and in consideration of our future cash flow needs. We regularly rebalance the actual allocation to our target investment allocation. Plan assets are invested in commingled funds. Our "Pension and Investment Committee" is resp onsible for setting the investment strategy and the target asset allocation for the plan's assets. As the qualified plan approached fully funded status, we implemented a Liability-Driven Investing ("LDI") strategy, which more closely aligns the duration of the plan's assets with the duration of its liabilities. The LDI strategy results in an asset portfolio that more closely matches the behavior of the liability, thereby reducing the volatility of the plan's funded status. The plan’s financial instruments, shown below, are presented at fair value. See Note 1, "Significant Accounting Policies and Accounting Developments," for further discussion on how the hierarchical levels of the fair values of the Plan’s investments are determined. The fair values of our U.S. defined benefit plan assets were: At December 31, 2024 At December 31, 2023 Hierarchical Levels Hierarchical Levels Total I II III Total I II III (Amounts in thousands) (Amounts in thousands) Cash and cash equivalents $ 3,497 $ 3,497 $ — $ — $ 5,798 $ 5,798 $ — $ — Commingled Funds: Equity securities Global Equity(a) 85,158 — 85,158 — 76,217 — 76,217 — Global Real Assets(b) 68,263 — 68,263 — 54,025 — 54,025 — Fixed income securities Diversified Credit(c) 63,873 — 63,873 — 54,756 — 54,756 — Liability-Driven Investment(d) 131,726 — 131,726 — 170,378 — 170,378 — $ 352,517 $ 3,497 $ 349,020 $ — $ 361,174 $ 5,798 $ 355,376 $ — _______________________________________ (a) Global Equity fund seeks to closely track the performance of the MSCI All Country World Index. (b) Global Real Asset funds seek to provide exposure to the listed global real estate investment trusts and infrastructure markets. (c) Diversified Credit funds seek to provide exposure to the high yield, emerging markets, bank loans and securitized credit markets. (d) LDI funds seek to invest in high quality fixed income securities that collectively closely match those found in discount curves used to value the plan's liabilities. Non-U.S. Defined Benefit Plans We maintain defined benefit pension plans, which cover some or all of our employees in the following countries: Austria, Belgium, Canada, France, Ge rmany, India, Italy, Japan, Mexico, Saudi Arabia, Qatar, UAE, The Netherlands, Switzerland and the United Kingdom. The assets of the plans in the United Kingdom (two plans), The Netherlands and Canada represent 87% of the total non-U.S. plan a ssets ("non-U.S. assets"). Details of other countries’ plan assets have not been provided due to immater iality. The following are assumptions related to the non-U.S. defined benefit pension plans: Year Ended December 31, 2024 2023 2022 Weighted average assumptions used to determine Benefit Obligations: Discount rate 4.71 % 4.22 % 4.46 % Rate of increase in compensation levels 3.51 3.24 3.61 Weighted average assumptions used to determine net pension expense: Long-term rate of return on assets 4.65 % 3.97 % 2.43 % Discount rate 4.22 4.46 1.71 Rate of increase in compensation levels 3.24 3.62 3.18 Weighted-average interest crediting rates 2.06 % 2.29 % 1.49 % At December 31, 2024, as compared with December 31, 2023, we increased our average discount rate for non-U.S. plans from 4.22% to 4.71% based on analysis of bonds and other publicly traded instruments, by country, which had higher yields due to market conditions. To determine 2024 pension expense, our average expected rate of return on plan assets increased to 4.65% based on our target allocations and expected long-term asset returns. As the expected rate of return on plan assets is long-term in nature, short-term market fluctuations do not significantly impact the rate. Many of our non-U.S. defined benefit plans are unfunded, as permitted by local regulation. The expected long-term rate of return on assets for funded plans was determined by assessing the rates of return for each asset class and is calculated using a quantitative approach that utilizes unadjusted historical returns and asset allocation as inputs for the calculation. We work with our actuaries to determine the reasonableness of our long-term rate of return assumptions by looking at several factors including historical returns, expected future returns, asset allocation, risks by asset class and other items. Net pension expense for non-U.S. defined benefit pension plans was: Year Ended December 31, 2024 2023 2022 (Amounts in thousands) Service cost $ 6,381 $ 4,611 $ 5,984 Interest cost 12,401 11,897 6,506 Expected return on plan assets (7,740) (6,659) (5,883) Amortization of unrecognized net loss 2,561 1,270 2,729 Amortization of unrecognized prior service cost 296 300 293 Settlement (gain) loss and other (63) (23) (75) Non-U.S. net pension expense $ 13,836 $ 11,396 $ 9,554 The following summarizes the net pension liability for non-U.S. plans: December 31, 2024 2023 (Amounts in thousands) Plan assets, at fair value $ 167,508 $ 179,450 Benefit Obligation (285,498) (297,600) Funded status - Underfunded $ (117,990) $ (118,150) The following summarizes amounts recognized in the balance sheet for non-U.S. plans: December 31, 2024 2023 (Amounts in thousands) Noncurrent assets $ 12,211 $ 9,563 Current liabilities (9,282) (7,682) Noncurrent liabilities (120,919) (120,031) Funded status $ (117,990) $ (118,150) The following is a reconciliation of the non-U.S. plans’ defined benefit pension obligations: December 31, 2024 2023 (Amounts in thousands) Balance — January 1 $ 297,600 $ 268,364 Service cost 6,381 4,611 Interest cost 12,401 11,897 Employee contributions 80 80 Settlements and other(3) 13,051 (982) Actuarial losses (gains)(1) (13,012) 17,082 Net benefits and expenses paid (17,393) (15,181) Currency translation impact(2) (13,610) 11,729 Balance — December 31 $ 285,498 $ 297,600 Accumulated benefit obligations at December 31 $ 264,367 $ 279,760 _______________________________________ (1) Actuarial losses (gains) primarily reflects the impact of changes in the discount rates for all plans. (2) In 2024, the currency translation gain reflects the strengthening of the U.S. dollar against the Euro and the British pound, while in 2023, the currency translation loss reflects the weakening of the U.S. dollar against the Euro and the British pound. (3) Includes $13.6 million for Middle East Pension Plans and $0.6 million for settlements. The following table summarizes the expected cash benefit payments for the non-U.S. defined benefit plans in the future (amounts in millions): 2025 $ 29.2 2026 18.3 2027 18.1 2028 19.8 2029 20.1 2030-2034 102.7 The following table shows the change in accumulated other comprehensive loss attributable to the components of the net cost and the change in Benefit Obligations for non-U.S. plans, net of tax: December 31, 2024 2023 (Amounts in thousands) Balance — January 1 $ (59,968) $ (42,421) Amortization of net loss 2,662 1,631 Net (losses) gains arising during the year 5,107 (16,039) Settlement (gains) losses (61) (23) Prior service gain (cost) arising during the year — 10 Currency translation impact and other 1,935 (3,126) Balance — December 31 $ (50,325) $ (59,968) Amounts recorded in accumulated other comprehensive loss consist of: December 31, 2024 2023 (Amounts in thousands) Unrecognized net loss $ (47,404) $ (56,698) Unrecognized prior service cost (2,921) (3,270) Accumulated other comprehensive loss, net of tax $ (50,325) $ (59,968) The following is a reconciliation of the non-U.S. plans’ defined benefit pension assets: December 31, 2024 2023 (Amounts in thousands) Balance — January 1 $ 179,450 $ 172,276 Return (Loss) on plan assets 1,372 4,444 Employee contributions 80 80 Company contributions 10,733 10,221 Settlements (581) (967) Currency translation impact (6,153) 8,577 Net benefits and expenses paid (17,393) (15,181) Balance — December 31 $ 167,508 $ 179,450 In 2024, the U.K. and The Netherlands plans contributed to the decrease in plan assets. The U.K. and The Netherlands pension plans contributed to the change in the non-U.S. plan assets due to higher asset returns in 2023. Our contributions to non-U.S. defined benefit pension plans in 2025 are expect ed to be approximately $2 million , excluding direct benefits paid. The asset allocations for the non-U.S. defined benefit pension plans at the end of 2024 and 2023 are as follows: Target Allocation at Percentage of Actual Plan Asset category 2024 2023 2024 2023 Cash and cash equivalents 1 % — % 1 % — % Cash and cash equivalents 1 % — % 1 % — % U.K. Government Gilt Index 32 % 39 % 32 % 39 % Liability-Driven Investment 15 % 12 % 15 % 12 % Fixed income 47 % 51 % 47 % 51 % Multi-asset 21 % 19 % 21 % 19 % Buy-in Contracts 18 % 18 % 18 % 18 % Other 13 % 12 % 13 % 12 % Other types 52 % 49 % 52 % 49 % None of our common stock is held directly by these plans. In all cases, our investment strategy for these plans is to earn a long-term rate of return consistent with an acceptable degree of risk and minimize our cash contributions over the life of the plan, while taking into account the liquidity needs of the plan and the legal requirements of the particular country. We preserve capital through diversified investments in high quality securities. Asset allocation differs by plan based upon the plan’s benefit obligation to participants, as well as the results of asset and liability studies that are conducted for each plan and in consideration of our future cash flow needs. Professional money management firms manage plan assets and we engage a consultant in the United Kingdom to assist in evaluation of these activities. The assets of the U.K. plans are overseen by a group of Trustees who review the investment strategy, asset allocation and fund selection. These assets are passively managed as they are invested in index funds that attempt to match the performance of the specified benchmark index. The fair values of the non-U.S. assets were: At December 31, 2024 At December 31, 2023 Hierarchical Levels Hierarchical Levels Total I II III Total I II III (Amounts in thousands) (Amounts in thousands) Cash $ 2,454 $ 2,454 $ — — $ 706 $ 706 $ — $ — Commingled Funds: Fixed income securities U.K. Government Gilt Index(a) 54,208 — 54,208 — 69,566 — 69,566 — Liability-Driven Investment(b) 23,778 — 23,778 — 21,873 — 21,873 — Other Types of Investments: Multi-asset(c) 35,346 — 35,346 — 34,693 — 34,693 — Buy-in Contracts(d) 30,647 — — 30,647 31,692 — — 31,692 Other(e) 21,075 — — 21,075 20,920 — — 20,920 $ 167,508 $ 2,454 $ 113,332 $ 51,722 $ 179,450 $ 706 $ 126,132 $ 52,612 _______________________________________ (a) U.K. Government Gilt Index represents U.K. government issued fixed income investments which are passively managed to track their respective benchmarks. (b) LDI seeks to invest in fixed income securities that collectively closely match those found in discount curves used to value the plan's liabilities. (c) Multi-asset seeks an attractive risk-adjusted return by investing in a diversified portfolio of strategies, including equities and fixed income. (d) The Buy-in Contracts ("Contract" or "Contracts") represent assets held by plans, whereby the cost of providing benefits to plan participants is funded by the Contract. The Contracts are held by the plans for the benefit of plan participants in the Netherlands and United Kingdom. The fair value of these assets are based on the current present value of accrued benefits and will fluctuate based on changes in the obligations associated with covered plan members as well as the assumptions used in the present value calculation. The fair value of assets held in the Netherlands Contract as of January 1, 2024 was $16.9 million, with benefit payments of $1.0 million, contributions and return on assets of $0.3 million and negative currency adjustments of $1.0 million resulting in a fair value of $15.2 million at December 31, 2024. Similarly, the fair value of asset held in the U.K. plan Contract as of January 1, 2024 was $14.8 million, with benefit payments of $1.0 million, return on assets of $1.9 million and negative currency adjustments of $0.3 million resulting in a fair value of $15.4 million at December 31, 2024. There were no material transfers into or out of Level III. (e) Includes assets held by plans outside the United Kingdom, the Netherlands and Canada. Details of each plan have not been provided due to immateriality. The fair value of the assets as of January 1, 2024 was $20.9 million, with contributions of $10.5 million, payments of $9.2 million, settlements and return on assets of $1.1 million and negative currency adjustments of $2.2 million resulting in a fair value of $21.1 million at December 31, 2024. There were no material transfers into or our of Level III. Defined Benefit Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets The following summarizes key pension plan information regarding U.S. and non-U.S. plans whose accumulated benefit obligations exceed the fair value of their respective plan assets. December 31, 2024 2023 (Amounts in thousands) Benefit Obligation $ 575,538 $ 590,015 Accumulated benefit obligation 559,725 577,942 Fair value of plan assets 384,006 407,307 Postretirement Medical Plans We sponsor several defined benefit postretirement medical plans covering certain current retirees and a limited number of future retirees in the United States. These plans provide for medical and dental benefits and are administered through insurance companies and health maintenance organizations. The plans include participant contributions, deductibles, co-insurance provisions and other limitations and are integrated with Medicare and other group plans. We fund the plans as benefits and health maintenance organization premiums are paid, such that the plans hold no assets in any period presented. Accordingly, we have no investment strategy or targeted allocations for plan assets. Benefits under our postretirement medical plans are not available to new employees or most existing employees. The following are assumptions related to postretirement benefits: Year Ended December 31, 2024 2023 2022 Weighted average assumptions used to determine Benefit Obligation: Discount rate 5.78 % 5.57 % 5.83 % Weighted average assumptions used to determine net expense: Discount rate 5.57 % 5.83 % 2.83 % The assumed ranges for the annual rates of increase in medical costs used to determine net expense were 7.00% for 2024, 7.00% for 2023 and 7.25% for 2022, with a gradual decrease to 5.00% for 2032 and future years. Net postretirement benefit cost for postretirement medical plans was: Year Ended December 31, 2024 2023 2022 (Amounts in thousands) Interest cost $ 678 $ 761 $ 464 Amortization of unrecognized prior service cost 122 122 122 Amortization of unrecognized net loss (gain) 69 53 192 Net postretirement benefit expense $ 869 $ 936 $ 778 The following summarizes the accrued postretirement benefits liability for the postretirement medical plans: December 31, 2024 2023 (Amounts in thousands) Postretirement Benefit Obligation $ 11,761 $ 12,417 Funded status $ (11,761) $ (12,417) The following summarizes amounts recognized in the balance sheet for postretirement Benefit Obligation: December 31, 2024 2023 (Amounts in thousands) Current liabilities $ (1,985) $ (2,037) Noncurrent liabilities (9,776) (10,380) Funded status $ (11,761) $ (12,417) The following is a reconciliation of the postretirement Benefit Obligation: December 31, 2024 2023 (Amounts in thousands) Balance — January 1 $ 12,417 $ 13,353 Interest cost 678 761 Employee contributions 303 379 Medicare subsidies receivable 55 60 Actuarial gain (239) (49) Net benefits and expenses paid (1,453) (2,087) Balance — December 31 $ 11,761 $ 12,417 The following presents expected benefit payments for future periods (amounts in millions): Expected 2025 $ 2.0 2026 1.8 2027 1.6 2028 1.5 2029 1.3 2030-2034 4.5 The following table shows the change in accumulated other comprehensive loss attributable to the components of the net cost and the change in Benefit Obligations for postretirement benefits, net of tax: 2024 2023 (Amounts in thousands) Balance — January 1 $ (325) $ (496) Amortization of net loss 52 41 Amortization of prior service cost 94 93 Net gain arising during the year 183 37 Balance — December 31 $ 4 $ (325) Amounts recorded in accumulated other comprehensive loss consist of: December 31, 2024 2023 (Amounts in thousands) Unrecognized net gain $ (259) $ 130 Unrecognized prior service cost 263 (455) Accumulated other comprehensive income, net of tax $ 4 $ (325) We made contributions to the postretirement medical plans to pay b enefits of $1.1 million in 2024, $1.6 million in 2023 and $2.4 million in 2022. Because the postretirement medical plans are unfunded, we make contributions as the covered individuals’ claims are approved for payment. Accordingly, contribution s during any period are directly correlated to the benefits paid. Defined Contribution Plans We sponsor several defined contribution plans covering substantially all U.S. and Canadian employees and certain other non-U.S. employees. Employees may contribute to these plans, and these contributions are matched in varying amounts by us, including discretionary matching contributions. Defined contribution plan expense was $29.8 million in 2024, $23.6 million in 2023 and $21.9 million in 2022.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2024
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: Year Ended December 31, 2024 2023 2022 (Amounts in thousands, except per share data) Net earnings of Flowserve Corporation $ 282,759 $ 186,743 $ 188,689 Dividends on restricted shares not expected to vest — — — Earnings attributable to common and participating shareholders $ 282,759 $ 186,743 $ 188,689 Weighted average shares: Common stock 131,450 131,074 130,591 Participating securities 38 43 39 Denominator for basic earnings per common share 131,488 131,117 130,630 Effect of potentially dilutive securities 868 814 685 Denominator for diluted earnings per common share 132,356 131,931 131,315 Net earnings per share attributable to Flowserve Corporation common shareholders: Basic $ 2.15 $ 1.42 $ 1.44 Diluted 2.14 1.42 1.44 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. For the years ended December 31, 2024, 2023 and 2022, unvested restricted shares of 12,840, 118,781 and 118,334, respectively, were excluded from the computation of diluted earnings per share because the effect of their exercise would be anti-dilutive.

Legal Matters and Contingencies

Legal Matters and Contingencies	12 Months Ended
	Dec. 31, 2024
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, the number of new claims may fluctuate or increase between periods, and there can be no assurance that total outstanding claims will continue to decline, 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 follow s : 2024 2023 2022 Beginning claims, January 1,(1) 8,236 8,139 8,712 New claims 2,761 2,470 2,454 Resolved claims (3,027) (2,545) (2,204) Other(2) 157 172 (823) Ending claims, December 31,(1) 8,127 8,236 8,139 ____________________ (1) Beginning and ending claims data in each period excludes inactive claims, as the Company assumes that inactive cases will not 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 as of December 31, 2024, 2023 and 2022: (Amounts in thousands) 2024 2023 2022 Beginning balance, January 1, $ 102,903 $ 98,652 $ 94,423 Asbestos liability adjustments, net 23,740 22,237 14,782 Cash payment activity (10,618) (12,589) (5,733) Other, net (5,693) (5,397) (4,820) Ending balance, December 31, $ 110,332 $ 102,903 $ 98,652 The Company incurred expenses (net of insurance) of approximatel y $22.7 million, $22.1 million and $14.8 million during the periods ended December 31, 2024, 2023 and 2022, respectively, to defend, resolve or otherwise dispose of outstanding claims, including legal and other related expenses. These expenses are included within SG&A in the c onsolidated 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 approximate ly $(7.9) million, $(18.4) million and $4.2 million during the periods ended December 31, 2024, 2023 and 2022, respectively. Historically, a high percentage of resolved claims have been covered by applicable insurance or indemnities from other companies, and we believe that a portion 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 reflect 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 in future periods are resolved more favorably than reflected in the recorded receivables, would result in discrete gains in the applicable year. Other We are currently involved as a potentially responsible party at five former public waste disposal sites in various stages of evaluation or remediation. The projected cost of remediation at these sites, as well as our alleged "fair share" allocation, will remain uncertain until all studies have been completed and the parties have either negotiated an amicable resolution or the matter has been judicially resolved. At each site, there are many other parties who have similarly been identified. Many of the other parties identified are financially strong and solvent companies that appear able to pay their share of the remediation costs. Based on our information about the waste disposal practices at these sites and the environmental regulatory process in general, we believe that it is likely that ultimate remediation liability costs for each site will be apportioned among all liable parties, including site owners and waste transporters, according to the volumes and/or toxicity of the wastes shown to have been disposed of at the sites. We believe that our financial exposure for existing disposal sites will not be materially in excess of accrued reserves. 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 appropr iate.

Warranty Reserve

Warranty Reserve	12 Months Ended
	Dec. 31, 2024
Product Warranties Disclosures [Abstract]
Warranty Reserve	WARRANTY RESERVE We have recorded reserves for product warranty claims that are included in current liabilities. The following is a summary of the activity in the warranty reserve: Year Ended December 31, 2024 2023 2022 (Amounts in thousands) Balance — January 1 $ 26,698 $ 22,047 $ 23,893 Accruals for warranty expense, net of adjustments 26,271 26,528 17,342 Settlements made (21,439) (21,877) (19,188) Balance — December 31 $ 31,530 $ 26,698 $ 22,047

Shareholders' Equity

Shareholders' Equity	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Shareholders' Equity	SHAREHOLDERS’ EQUITY Dividends – Generally, our dividend date-of-record is in the last month of the quarter, and the dividend is paid the following month. Any subsequent dividends will be reviewed by our Board of Directors and declared at its discretion. Dividends declared per share were as follows: Year Ended December 31, 2024 2023 2022 Dividends declared per share $ 0.84 $ 0.80 $ 0.80 Share Repurchase Program – In 2014, our Board of Directors approved a $500.0 million share repurchase authorization. As of December 31, 2023, we had $96.1 million of remaining capacity under the prior share repurchase authorization. Effective February 19, 2024, the Board of Directors approved an increase in our total remaining capacity under the share repurchase program to $300.0 million. Our share repurchase program does not have an expiration date, and we reserve the right to limit or terminate the repurchase program at any time without notice. We repurchased 423,785 shares of our outstanding common stock for $20.1 million during the year ended December 31, 2024, compared to no repurchases of shares during the years ended December 31, 2023 and 2022. As of December 31, 2024, we had $279.9 million of remaining capacity under our current share repurchase program.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES The provision (benefit) for income taxes consists of the following: Year Ended December 31, 2024 2023 2022 (Amounts in thousands) Current: U.S. federal $ 36,330 $ 24,766 $ 45,130 Foreign 56,991 51,431 40,876 State and local 5,055 5,018 6,177 Total current provision (benefit) 98,376 81,215 92,183 Deferred: U.S. federal (12,648) 3,665 (88,498) Foreign 381 (62,944) (42,756) State and local (1,180) (3,374) (4,568) Total deferred provision (benefit) (13,447) (62,653) (135,822) Total provision (benefit) $ 84,929 $ 18,562 $ (43,639) The provision for income taxes differs from the statutory corporate rate due to the following: Year Ended December 31, 2024 2023 2022 (Amounts in millions) Statutory federal income tax at 21% $ 81.1 $ 47.0 $ 32.4 Base Erosion and Anti-abuse Tax — — (7.6) Foreign impact, net 63.5 10.4 (22.3) Change in valuation allowances (58.3) (34.5) (50.5) Research and development credit (4.7) (2.9) (1.0) U.S. federal tax return to accrual adjustments, not separately disclosed in other categories (0.9) (4.8) 1.8 Other, net 4.2 3.4 3.6 Total 84.9 18.6 (43.6) Effective tax rate 22.0 % 8.3 % (28.3) % On December 22, 2017, the U.S. enacted the Tax Cuts and Jobs Act of 2017 (the “Tax Reform Act”), which provided the base-erosion and anti-abuse tax (“BEAT”) provision which effectively creates a new minimum tax on certain deductible payments to foreign affiliates. For the years ended December 31, 2024 and 2023, we are not subject to BEAT tax, and the previously recorded 2021 BEAT tax was reversed in 2022 following finalization of the 2021 U.S. federal income tax return. For the year ended December 31, 2024, the change in net foreign impact is driven mainly by the expiration of 2019 Hungarian net operating loss that is fully offset in the change in valuation allowance by $54.2 million (see discussion below). For the year ended December 31, 2023, the change in valuation allowances is driven mainly by the release of the valuation allowance against our deferred tax assets by $18.9 million in Brazil, $14.6 million in France. The Company determined that the net deferred tax assets in Brazil and France are realizable based on recent history of profitability and future income projections. For the year ended December 31, 2022, the change in valuation allowances is driven mainly by the release of the valuation allowance against our deferred tax assets by $13.2 million in Germany, $22.4 million in Mexico and $44.4 million release of the valuation allowance on our U.S. foreign tax credit carryforwards on general category income partially offset by a valuation allowance establishment of $13.6 million in Argentina. The Company determined that the net deferred tax assets in Germany and Mexico are realizable based on recent history of profitability and future income projections. In addition, we determined that the U.S. foreign tax credit carryforwards on general category income were realizable based on the development of a tax planning strategy. For the years ended December 31, 2024, 2023 and 2022 we have asserted indefinite reinvestment on certain earnings of our foreign subsidiaries. As of December 31, 2024, we have not recorded approximately $35.7 million of deferred tax liabilities associated with remaining unremitted earnings considered indefinitely reinvested, specifically related to foreign withholding taxes that would be due upon repatriation of the designated earnings to the U.S. While the company has estimated the foreign withholding tax impact related to distributing earnings currently deemed permanently reinvested, the calculation of the potential U.S. tax consequences associated with the distribution of earnings currently deemed permanently reinvested is impracticable. Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the consolidated deferred tax assets and liabilities were: December 31, 2024 2023 (Amounts in thousands) Deferred tax assets related to: Retirement benefits $ 34,778 $ 34,526 Net operating loss carryforwards 105,174 186,337 Compensation accruals 37,785 41,688 Inventories 29,764 33,168 Credit and capital loss carryforwards 166,999 185,162 Warranty and accrued liabilities 53,466 47,614 Capitalized research and experimental expenditures 67,206 60,542 Other 81,600 89,510 Total deferred tax assets 576,772 678,547 Valuation allowances (250,841) (347,673) Net deferred tax assets $ 325,931 $ 330,874 Deferred tax liabilities related to: Goodwill and intangibles $ (81,241) $ (81,245) Foreign undistributed earnings (7,179) (10,477) Operating lease right-of-use-assets (16,967) (20,198) Other (581) (1,930) Total deferred tax liabilities (105,968) (113,850) Deferred tax asset (liabilities), net $ 219,963 $ 217,024 We had $747.1 million of U.S. and foreign net operating loss carryforwards at December 31, 2024. Of this total, $9.9 million are state net operating losses. State net operating losses generated in the United States, if unused, will expire in 2027. $214.0 million of our foreign net operating losses carry forward without expiration. The majority of our Hungarian net operating loss of $430.2 million that has a full valuation allowance (see discussion below), if unused, will expire in 2025 and 2028. The remaining foreign net operating losses of $93.0 million that do not carry forward without expiration, if unused, will expire between 2025-2044. Additionally, we had $67.4 million of foreign tax credit carryforwards at December 31, 2024, that have a valuation allowance on the foreign branch category income (see discussion below), if unused, will expire between 2028-2034. The following schedule presents the changes in deferred tax asset valuation allowance as follows: (Amounts in thousands) Balance at Additions Additions charged to other accounts - currency effects and other, net Deductions from reserve Balance at end of year Year Ended December 31, 2024 Deferred tax asset valuation allowance(1): $ 347,672 $ 6,964 $ (37,286) $ (66,509) $ 250,841 Year Ended December 31, 2023 Deferred tax asset valuation allowance(1): 356,557 19,684 25,367 (53,936) 347,672 Year Ended December 31, 2022 Deferred tax asset valuation allowance(1): 415,962 36,822 (11,775) (84,452) 356,557 ______________________________ (1) Deductions from reserve result from the release of valuation allowances on deferred tax assets, expiration or utilization of net operating losses and foreign tax credits previously reserved. Additions to reserve result from the establishment of valuation allowances on deferred tax assets, generation of net operating losses and foreign tax credits. The Company maintains a full valuation allowance against the net deferred tax assets in certain foreign jurisdictions as of December 31, 2024. 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. We assess our forecast of future taxable income and available tax planning strategies that could be implemented to realize the net deferred tax assets in determining the sufficiency of our valuation allowances. Failure to achieve forecasted taxable income in the applicable tax jurisdictions could affect the ultimate realization of deferred tax assets and could result in an increase in our effective tax rate on future earnings. It is possible there may be sufficient positive evidence to release a portion of the remaining valuation allowance in those foreign jurisdictions. Release of the valuation allowance 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. Our valuation allowances primarily relate to the deferred tax assets established for U.S. foreign tax credit carryforwards on foreign branch category income of $54.1 million, Hungarian net operating loss carryforward of $38.7 million, a foreign capital loss carryforward of $93.3 million, and other foreign deferred tax assets of $64.7 million. The Hungarian net operating loss carryforward was a result of a local statutory impairment of investments in subsidiaries in 2021. It is more likely than not that the loss will not be utilized within its five year carryforward period and, therefore, has a full valuation allowance. The foreign capital loss carryforward was the result of a reorganization of certain foreign subsidiaries in 2019. Due to its capital nature, it is more likely than not that the loss will not be utilized within its ten year carryforward period and, therefore, has a full valuation allowance. Earnings before income taxes comprised: Year Ended December 31, 2024 2023 2022 (Amounts in thousands) U.S. $ 109,794 $ 212,631 $ 63,508 Foreign 276,361 11,119 90,868 Total $ 386,155 $ 223,750 $ 154,376 A tabular reconciliation of the total gross amount of unrecognized tax benefits, excluding interest and penalties, is as follows (in millions): 2024 2023 2022 Balance — January 1 $ 46.2 $ 50.2 $ 49.9 Gross amount of increase (decrease) in unrecognized tax benefits resulting from tax positions taken: During a prior year 0.1 (9.1) 5.4 During the current period 7.2 7.4 5.8 Decreases in unrecognized tax benefits relating to: Settlements with taxing authorities — (2.8) (5.5) Lapse of the applicable statute of limitations (1.9) (1.4) (4.1) Increase (decrease) in unrecognized tax benefits relating to foreign currency translation adjustments (5.5) 1.9 (1.3) Balance — December 31 $ 46.1 $ 46.2 $ 50.2 The amount of gross unrecognized tax benefits at December 31, 2024, was $71.3 million, which includes $25.2 million of accrued interest and penalties. Of this amount $54.3 million, if recognized, would favorably impact our effective tax rate. With limited exception, we are no longer subject to U.S. federal income tax audits for years through 2017, state and local income tax audits for years through 2018 or non-U.S. income tax audits for years through 2017. We are currently under examination for various years in Austria, Canada, China, Germany, India, Indonesia, Italy, Kenya, Madagascar, Malaysia, Mexico, Morocco, the Philippines, Qatar, Saudi Arabia, Singapore, Switzerland, the United States and Venezuela. It is reasonably possible that within the next 12 months the effective tax rate will be impacted by the resolution of some or all of the matters audited by various taxing authorities. It is also reasonably possible that we will have the statute of limitations close in various taxing jurisdictions within the next 12 months. As such, we estimate we could record a reduction in our tax expense up to approximately $4 million within the n ext 12 months. On December 20, 2021, the Organisation for Economic Co-operation and Development (“OECD”) released the Model GloBE Rules for Pillar Two defining a 15% global minimum tax rate for large multinational corporations. Many countries continue to consider changes in their tax laws and regulations based on the Pillar Two proposals. We are continuing to evaluate the impact of these proposed and enacted legislative changes as new guidance becomes available. Some of these legislative changes could result in double taxation of our non-U.S. earnings, a reduction in the tax benefit received from our tax incentives, or other impacts to our effective tax rate and tax liabilities. As of December 31, 2024, the company is not expecting material impacts under currently enacted legislation.

Business Segment Information

Business Segment Information	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Business Segment Information	BUSINESS SEGMENT INFORMATION Our business segments, which are the same as our reportable segments, share a focus on industrial flow control technology and have a high number of common customers. These segments also have complementary product offerings and technologies that are often combined in applications that provide us a net competitive advantage. Our segments also benefit from our global footprint and our economies of scale in reducing administrative and overhead costs to serve customers more cost effectively. We conduct our operations through two business segments based on type of product and how we manage the business: • FPD for highly custom engineered pumps, pre-configured industrial pumps, pump systems, mechanical seals, auxiliary systems and replacement parts and related services; and • FCD for engineered-to-order and configured-to-order isolation values, control valves, valve automation products and related equipment. Our corporate headquarters does not constitute a separate division or business segment. Amounts classified as "Eliminations and All Other" include corporate headquarters costs and other minor entities that do not constitute separate segments. Inter segment sales and transfers are recorded at cost plus a profit margin, with the sales and related margin on such sales eliminated in consolidation. Flowserve's chief operating decision maker ("CODM") is the chief executive officer. The CODM uses segment operating income or loss for both the FPD and FCD segments in the annual budget and forecasting process. The CODM considers budget-to-actual variances on a monthly basis when making decisions about allocating capital and personnel to the segments. The following is a summary of the financial information of our reportable segments as of and for the years ended December 31, 2024, 2023 and 2022 reconciled to the amounts reported in the consolidated financial statements. Subtotal—Reportable Segments Eliminations and All Other Consolidated Total FPD FCD (Amounts in thousands) Year Ended December 31, 2024: Sales to external customers $3,154,151 $ 1,403,655 $ 4,557,806 $ — $ 4,557,806 Intersegment sales 4,416 5,641 10,057 (10,057) — Cost of sales (2,141,520) (985,323) (3,126,843) SG&A (556,225) (252,675) (808,900) Other segment items (1) 19,394 (13,033) 6,361 Segment operating income (loss) 480,216 158,265 638,481 Depreciation and amortization 45,726 21,503 67,229 18,369 85,598 Identifiable assets 3,042,859 1,739,425 4,782,284 718,537 5,500,821 Capital expenditures 51,315 20,095 71,410 9,609 81,019 Subtotal—Reportable Segments Eliminations and All Other Consolidated Total FPD FCD (Amounts in thousands) Year Ended December 31, 2023: Sales to external customers $3,060,993 $ 1,259,584 $ 4,320,577 $ — $ 4,320,577 Intersegment sales 3,487 6,448 9,935 (9,935) — Cost of sales (2,157,705) (893,224) (3,050,929) SG&A (575,792) (224,774) (800,566) Other segment items (2) 17,884 — 17,884 Segment operating income (loss) 348,867 148,034 496,901 Depreciation and amortization 47,628 17,249 64,877 18,870 83,747 Identifiable assets 3,191,726 1,333,973 4,525,699 583,020 5,108,719 Capital expenditures 41,613 15,953 57,566 9,793 67,359 Subtotal—Reportable Segments Eliminations and All Other Consolidated Total FPD FCD (Amounts in thousands) Year Ended December 31, 2022: Sales to external customers $ 2,518,000 $ 1,097,120 $ 3,615,120 $ — $ 3,615,120 Intersegment sales 4,508 3,489 7,997 (7,997) — Cost of sales (1,794,425) (795,095) (2,589,520) SG&A (538,523) (192,097) (730,620) Other segment items (2) 18,397 — 18,397 Segment operating income (loss) 207,957 113,417 321,374 Depreciation and amortization 49,654 18,931 68,585 22,368 90,953 Identifiable assets 3,110,733 1,269,690 4,380,423 410,211 4,790,634 Capital expenditures 34,295 17,178 51,473 24,814 76,287 ______________________________ (1) Other segment items comprises Net Earnings from Affiliates as well as the Loss on sale of business of $13 million recorded in the FCD segment in the second quarter of 2024 related to disposal of the NAF AB control valves business. (2) Other segment items comprises Net Earnings from Affiliates. The following are reconciliations from total segment operating income to earnings before income tax reported in the consolidated income statement. Year Ended December 31, 2024 2023 2022 (Amounts in thousands) Total segment operating income (loss) $ 638,481 $ 496,901 $ 321,374 Intersegment sales (10,057) (9,935) (7,997) Eliminations and all other cost of sales 3,282 7,180 (31,305) Eliminations and all other SG&A (169,137) (160,603) (84,926) Interest expense (69,301) (66,924) (46,247) Interest income 5,371 6,991 3,963 Net earnings (loss) from affiliates (290) 10 73 Other income (expense), net (12,194) (49,870) (559) Earnings before income taxes 386,155 223,750 154,376 Geographic Information — We attribute sales to different geographic areas based on our facilities’ locations. Long-lived assets are classified based on the geographic area in which the assets are located and exclude deferred taxes, goodwill and intangible assets. Sales and long-lived assets by geographic area are as follows: Year Ended December 31, 2024 Sales Percentage Long-Lived Percentage (Amounts in thousands, except percentages) United States $ 1,823,595 40.0 % $ 421,797 46.9 % EMA(1) 1,583,302 34.7 % 278,197 30.9 % Asia(2) 676,989 14.9 % 151,727 16.9 % Other(3) 473,920 10.4 % 47,962 5.3 % Consolidated total $ 4,557,806 100.0 % $ 899,683 100.0 % Year Ended December 31, 2023 Sales Percentage Long-Lived Percentage (Amounts in thousands, except percentages) United States $ 1,821,751 42.2 % $ 394,395 44.7 % EMA(1) 1,503,776 34.8 % 289,061 32.8 % Asia(2) 584,759 13.5 % 140,596 15.9 % Other(3) 410,291 9.5 % 58,059 6.6 % Consolidated total $ 4,320,577 100.0 % $ 882,111 100.0 % Year Ended December 31, 2022 Sales Percentage Long-Lived Percentage (Amounts in thousands, except percentages) United States $ 1,536,961 42.5 % $ 412,896 46.6 % EMA(1) 1,210,436 33.5 % 274,511 30.9 % Asia(2) 524,952 14.5 % 144,206 16.2 % Other(3) 342,771 9.5 % 56,132 6.3 % Consolidated total $ 3,615,120 100.0 % $ 887,745 100.0 % ___________________________________ (1) "EMA " includes Europe, the Middle East and Africa. The United Kingdom accounted for approximate ly 10% for 2024 , 11% for 2023 and 10% for 2022, of consolidated long-lived assets. No other individual country within t his group represents 10% or more of consolidated totals for any period presented. (2) "Asia" includes Asia and Austral ia. No individual country wi thin this group represent s 10% or more of consolidated totals for any period presented. (3) "Other" includes Canada and Latin Am erica. No individual country within this group repres ents 10% or more of consolidated totals for any period presented. Net sales to international customers, including export sales from the United States, represented approximately 64% of total sales in 2024 and 62% of total sales in both 2023 and 2022. Major Custo mer Information — We have a large number of customers across a large number of manufacturing and service facilities and do not have sales to any individual customer that rep resent 10% or more of consolidated sales for any of the years presented.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	12 Months Ended
	Dec. 31, 2024
Accumulated Other Comprehensive Loss [Abstract]
Accumulated Other Comprehensive Loss	ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following table presents the changes in Accumulated Other Comprehensive Loss ("AOCL"), net of related tax effects: 2024 (Amounts in thousands) Foreign currency translation items(1) Pension and other post-retirement effects Cash flow hedging activity (2) Total(1) Balance - January 1 $ (523,873) $ (121,882) $ (813) $ (646,568) Other comprehensive income (loss) before reclassifications (3) (111,790) 5,728 — (106,062) Amounts reclassified from AOCL 3,566 256 66 3,888 Net current-period other comprehensive income (loss) (3) (108,224) 5,984 66 (102,174) Balance - December 31 $ (632,097) $ (115,898) $ (747) $ (748,742) 2023 (Amounts in thousands) Foreign currency translation items(1) Pension and other post-retirement effects Cash flow hedging activity (2) Total(1) Balance - January 1 $ (554,683) $ (86,356) $ (933) $ (641,972) Other comprehensive income (loss) before reclassifications (3) 30,810 (37,218) — (6,408) Amounts reclassified from AOCL — 1,692 120 1,812 Net current-period other comprehensive income (loss) (3) 30,810 (35,526) 120 (4,596) Balance - December 31 $ (523,873) $ (121,882) $ (813) $ (646,568) 2022 (Amounts in thousands) Foreign currency translation items(1) Pension and other post-retirement effects Cash flow hedging activity (2) Total(1) Balance - January 1 $ (456,025) $ (101,665) $ (1,336) $ (559,026) Other comprehensive income (loss) before reclassifications (3) (98,658) 16,684 314 (81,660) Amounts reclassified from AOCL — (1,375) 89 (1,286) Net current-period other comprehensive income (loss) (3) (98,658) 15,309 403 (82,946) Balance - December 31 $ (554,683) $ (86,356) $ (933) $ (641,972) _______________________________________ (1) Includes foreign currency translation adjustments attributable to noncontrolling interests of $(7.3) million, $(7.0) million, $5.8 million and $4.6 million for December 31, 2024, 2023, 2022 and 2021, respectively. Also includes the cumulative impacts from the changes in fair value of our cross-currency swaps, which were $49.0 million for December 31, 2022. (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: (Amounts in thousands) Affected line item in the statement of income 2024(1) 2023(1) 2022(1) Pension and other postretirement effects Amortization of actuarial losses(2) Other income (expense), net $ (68) $ (1,310) $ (6,382) Prior service costs(2) Other income (expense), net (316) (608) (591) Settlements and other(2) Other income (expense), net — 8 (75) Tax benefit (expense) 128 218 8,423 Net of tax $ (256) $ (1,692) $ 1,375 Cash flow hedging activity Amortization of Treasury rate lock Interest income (expense) $ (123) $ (120) $ (117) Tax benefit (expense) 57 — 28 Net of tax $ (66) $ (120) $ (89) ______________________________________ (1) Amounts in parentheses indicate decreases to income. None of the reclassification amounts have a noncontrolling interest component. (2) These AOCL components are included in the computation of net periodic pension cost. See Note 14, "Pension and Postretirements Benefits," for additional details.

Realignment and Transformation

Realignment and Transformation Programs	12 Months Ended
	Dec. 31, 2024
Restructuring and Related Activities [Abstract]
Realignment and Transformation 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, referred to as the "2020 Realignment Program." As of December 31, 2022, the 2020 Realignment Program was substantially complete. In the first quarter of 2023, we identified and initiated certain realignment activities concurrent with the consolidation of our FPD aftermarket and pump operations into a single operating model. This consolidated operating model is designed to better align our go-to-market strategy with our product offerings, enable end-to-end lifecycle responsibility and accountability, and to facilitate more efficient operations. During 2023, we also initiated certain product and portfolio optimization activities. Additionally, we committed to an estimated $50 million in cost reduction efforts to begin in 2023. Collectively, the above realignment activities are referred to as the "2023 Realignment Programs." The activities of the 2023 Realignment Programs were identified and implemented in phases throughout 2023 and 2024. In the fourth quarter of 2024, we launched the complexity reduction ("CORE") program within the portfolio excellence category of the Flowserve Business System. The CORE program focuses on product rationalization and continuous improvement of our overall product portfolio and is referred to as the "CORE Realignment Program." Together with the 2023 Realignment Programs, all realignment activities initiated in 2023 and 2024 are referred to as the "2023 and CORE Realignment Programs." 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 workforce reductions and professional service fees. Expenses are primarily reported in COS or SG&A, as applicable, in our consolidated statements of income. We currently anticipate a total investment in realignment activities that have been evaluated and initiated of approximately $134 million of which $45 million is estimated to be non-cash. There are certain remaining realignment activities that are currently being evaluated, but have not yet been approved 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 2023 and CORE Realignment Programs: December 31, 2024 (Amounts in thousands) FPD FCD Subtotal–Reportable Segments All Other Consolidated Total Restructuring Charges COS $ 24,113 $ (1,364) $ 22,749 $ — $ 22,749 SG&A 1,306 2,599 3,905 (28) 3,877 Loss on sale of business(1) — 12,981 12,981 — 12,981 $ 25,419 $ 14,216 $ 39,635 $ (28) $ 39,607 Non-Restructuring Charges COS $ 6,614 $ 2,440 $ 9,054 $ (228) $ 8,826 SG&A (228) 497 269 794 1,063 $ 6,386 $ 2,937 $ 9,323 $ 566 $ 9,889 Total Realignment Charges COS $ 30,727 $ 1,076 $ 31,803 $ (228) $ 31,575 SG&A 1,078 3,096 4,174 766 4,940 Loss on sale of business(1) — 12,981 12,981 — 12,981 Total $ 31,805 $ 17,153 $ 48,958 $ 538 $ 49,496 __________________________________ (1) Loss on sale of business related to NAF AB control valves business as described within Note 1, "Significant Accounting Policies and Accounting Developments," to our consolidated financial statements included in this Annual Report. December 31, 2023 (Amounts in thousands) FPD FCD Subtotal–Reportable Segments All Other Consolidated Total Restructuring Charges COS $ 2,962 $ 6,405 $ 9,367 $ 66 $ 9,433 SG&A 50 9,777 9,827 — 9,827 $ 3,012 $ 16,182 $ 19,194 $ 66 $ 19,260 Non-Restructuring Charges COS $ 7,835 $ 4,171 $ 12,006 $ (427) $ 11,579 SG&A 14,483 1,616 16,099 19,099 35,198 $ 22,318 $ 5,787 $ 28,105 $ 18,672 $ 46,777 Total Realignment Charges COS $ 10,797 $ 10,576 $ 21,373 $ (361) $ 21,012 SG&A 14,533 11,393 25,926 19,099 45,025 Total $ 25,330 $ 21,969 $ 47,299 $ 18,738 $ 66,037 The following is a summary of total charges, net of adjustments, incurred related to our 2020 Realignment Program: December 31, 2022 (Amounts in thousands) FPD FCD Subtotal–Reportable Segments All Other Consolidated Total Restructuring Charges COS $ 768 $ 93 $ 861 $ — $ 861 SG&A — (4) (4) — (4) $ 768 $ 89 $ 857 $ — $ 857 Non-Restructuring Charges COS $ (530) $ 86 $ (444) $ (61) $ (505) SG&A 148 (391) (243) (274) (517) $ (382) $ (305) $ (687) $ (335) $ (1,022) Total Realignment Charges COS $ 238 $ 179 $ 417 $ (61) $ 356 SG&A 148 (395) (247) (274) (521) Total $ 386 $ (216) $ 170 $ (335) $ (165) The following is a summary of total inception to date charges, net of adjustments, related to the 2023 Realignment Programs: Inception to Date (Amounts in thousands) FPD FCD Subtotal–Reportable Segments All Other Consolidated Total Restructuring Charges COS $ 27,076 $ 5,041 $ 32,117 66 $ 32,183 SG&A 1,355 12,376 $ 13,731 (28) 13,703 Loss on sale of business(1) — 12,981 $ 12,981 — 12,981 $ 28,431 $ 30,398 $ 58,829 $ 38 $ 58,867 Non-Restructuring Charges COS $ 11,506 $ 6,612 $ 18,118 $ (655) $ 17,463 SG&A 14,256 2,112 16,368 19,893 36,261 $ 25,762 $ 8,724 $ 34,486 $ 19,238 $ 53,724 Total Realignment Charges COS $ 38,582 $ 11,653 $ 50,235 $ (589) $ 49,646 SG&A 15,611 14,488 30,099 19,865 49,964 Loss on sale of business(1) — 12,981 12,981 — 12,981 Total $ 54,193 $ 39,122 $ 93,315 $ 19,276 $ 112,591 __________________________________ (1) Loss on sale of business related to NAF AB control valves business as described within Note 1, "Significant Accounting Policies and Accounting Developments," to our consolidated financial statements included in this Annual Report. The following is a summary of total inception to date charges, net of adjustments, related to the CORE Realignment Program: Inception to Date (Amounts in thousands) FPD FCD Subtotal–Reportable Segments All Other Consolidated Total Restructuring Charges COS $ — $ — $ — $ — $ — SG&A — — — — — $ — $ — $ — $ — $ — Non-Restructuring Charges COS $ 2,942 $ — $ 2,942 $ — $ 2,942 SG&A — — — — — $ 2,942 $ — $ 2,942 $ — $ 2,942 Total Realignment Charges COS $ 2,942 $ — $ 2,942 $ — $ 2,942 SG&A — — — — — Total $ 2,942 $ — $ 2,942 $ — $ 2,942 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 or impairment of fixed assets, accelerated amortization or impairment 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. Restructuring charges include charges related to approved, but not yet announced, facility closures. The following is a summary of restructuring charges, net of adjustments, for our restructuring activities related to our 2023 Realignment Programs: December 31, 2024 (Amounts in thousands) Severance Contract Termination Asset Write-Downs Other Total COS $ 7,078 $ — $ 12,861 $ 2,809 $ 22,748 SG&A 158 — 3,750 (30) 3,878 Loss on sale of business(1) — — — 12,981 12,981 Total $ 7,236 $ — $ 16,611 $ 15,760 $ 39,607 __________________________________ (1) Loss on sale of business related to NAF AB control valves business as described within Note 1, "Significant Accounting Policies and Accounting Developments," to our consolidated financial statements included in this Annual Report. December 31, 2023 (Amounts in thousands) Severance Contract Termination Asset Write-Downs Other Total COS $ 7,085 $ 301 $ 794 $ 1,253 $ 9,433 SG&A 950 — 8,871 6 9,827 Total $ 8,035 $ 301 $ 9,665 $ 1,259 $ 19,260 The following is a summary of restructuring charges, net of adjustments, for our restructuring activities related to our 2020 Realignment Program: December 31, 2022 (Amounts in thousands) Severance Contract Termination Asset Write-Downs Other Total COS $ 122 $ 327 $ 273 $ 139 $ 861 SG&A (4) — — — (4) Total $ 118 $ 327 $ 273 $ 139 $ 857 The following is a summary of total inception to date restructuring charges, net of adjustments, related to our 2023 Realignment Programs: Inception to Date (Amounts in thousands) Severance Contract Termination Asset Write-Downs Other Total COS $ 14,164 $ 301 $ 13,655 $ 4,063 $ 32,183 SG&A 1,106 — 12,621 (24) 13,703 Loss on sale of business(1) — — — 12,981 12,981 Total $ 15,270 $ 301 $ 26,276 $ 17,020 $ 58,867 __________________________________ (1) Loss on sale of business related to NAF AB control valves business as described within Note 1, "Significant Accounting Policies and Accounting Developments," to our consolidated financial statements included in this Annual Report. There are no restructuring charges related to our CORE Realignment Program. The following represents the activity, primarily severance charges from reductions in workforce, related to the restructuring reserve for the 2023 Realignment Programs for the years ended December 31, 2024 and 2023: (Amounts in thousands) 2024 2023 Balance at January 1, $ 8,184 $ 965 Charges 10,129 9,594 Cash expenditures (8,050) (2,110) Other non-cash adjustments, including currency (1,963) (265) Balance at December 31, $ 8,300 $ 8,184

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Earnings	$ 282,759	$ 186,743	$ 188,689

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Insider Trading Policies and Pr

Insider Trading Policies and Procedures	12 Months Ended
	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Cybersecurity Risk Management a

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
	Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	Risk Management and Strategy We have documented processes in place for assessing, identifying, and managing material risks from potential unauthorized occurrences on or through our electronic information systems that may result in adverse effects on the confidentiality, integrity, and availability of our information systems and the information residing therein. These include a wide variety of mechanisms, controls, technologies, methods, systems, and other processes designed to prevent or mitigate data loss, theft, misuse, or other security incidents or vulnerabilities affecting the data we collect, process, store, and transmit as part of our business. We also employ systems and processes designed to oversee, identify, and reduce the potential impact of a security incident at a third-party vendor or customer. As part of our risk management process and compliance with our ISO 27001 cybersecurity certification requirements, we conduct penetration testing, security audits, and ongoing risk assessments using a company-wide risk framework. We also require employees with access to information systems, to undertake data protection and cybersecurity training and compliance programs as part of the employee onboarding process, as well as annually thereafter. In addition to our in-house cybersecurity capabilities, we engage consultants and other third parties as necessary to assist with assessing, identifying, and managing cybersecurity risks. We have adopted a Cybersecurity Incident Response Policy (the “CIRP”), which provides governance and guidance in responding to cybersecurity incidents. The CIRP sets out a coordinated approach to investigating, containing, documenting and mitigating incidents, including reporting findings and keeping senior management and other key stakeholders informed and involved as appropriate. In general, the CIRP aligns with the ISO 27001 standard. The CIRP applies to all Company personnel (including third-party contractors, vendors and partners) that perform functions or services that require access to secure Company information, and to all devices and network services that are owned or managed by the Company. Cybersecurity risks and the adequacy of associated mitigations are analyzed by senior leadership as part of the enterprise risk assessments that are reported to and discussed by our Board of Directors. To date, risks from cybersecurity threats, including as a result of any previous cybersecurity incidents, have not materially affected us, including our business strategy, results of operations or financial condition, and we do not believe that such risks are reasonably likely to have such an effect over the long term. While we have not experienced any material cybersecurity incidents, there can be no guarantee that we will not be the subject of future incidents. For additional information on cybersecurity risks we face, see “Item 1A. Risk Factors”, of this Annual Report, which should be read in conjunction with the foregoing information.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	We have documented processes in place for assessing, identifying, and managing material risks from potential unauthorized occurrences on or through our electronic information systems that may result in adverse effects on the confidentiality, integrity, and availability of our information systems and the information residing therein. These include a wide variety of mechanisms, controls, technologies, methods, systems, and other processes designed to prevent or mitigate data loss, theft, misuse, or other security incidents or vulnerabilities affecting the data we collect, process, store, and transmit as part of our business. We also employ systems and processes designed to oversee, identify, and reduce the potential impact of a security incident at a third-party vendor or customer.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	Our Board of Directors has delegated the primary responsibility to oversee cybersecurity matters to the Technology, Risk and Finance Committee of our Board of Directors. The Technology, Risk and Finance Committee receives regular reports from management, including our Chief Information Officer (CIO), and reports to the Board of Directors at least annually on data protection and cybersecurity matters and reviews the measures implemented by the Company to identify and mitigate data protection and cybersecurity risks. In addition to regularly scheduled Technology, Risk and Finance Committee reviews, we have in place processes and protocols by which certain cybersecurity incidents are reported immediately to the Company’s executive leadership team, and subsequently thereafter, as appropriate to the Technology, Risk and Finance Committee. Our CIO and our Director of Cybersecurity, who reports in to the CIO, have extensive cybersecurity knowledge and skills gained from over 30 years of work experience at the Company and elsewhere, respectively, and head the team responsible for implementing and maintaining cybersecurity and data protection practices across our business. Reporting to our CIO and Director of Cybersecurity are a number of experienced information security specialists responsible for various parts of our business, each of whom is supported by a team of trained cybersecurity professionals. The CIO and Director of Cybersecurity are informed about and monitor the prevention, detection, mitigation, and remediation of cybersecurity incidents through reports from this team and regularly review risk management measures implemented by the Company to identify and mitigate cyber security risks. The CIO also attends regular meetings of the Technology, Risk and Finance Committee to report information on material risks from cybersecurity threats.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	The Technology, Risk and Finance Committee receives regular reports from management, including our Chief Information Officer (CIO), and reports to the Board of Directors at least annually on data protection and cybersecurity matters and reviews the measures implemented by the Company to identify and mitigate data protection and cybersecurity risks.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	The Technology, Risk and Finance Committee receives regular reports from management, including our Chief Information Officer (CIO), and reports to the Board of Directors at least annually on data protection and cybersecurity matters and reviews the measures implemented by the Company to identify and mitigate data protection and cybersecurity risks.
Cybersecurity Risk Role of Management [Text Block]	Our Board of Directors has delegated the primary responsibility to oversee cybersecurity matters to the Technology, Risk and Finance Committee of our Board of Directors. The Technology, Risk and Finance Committee receives regular reports from management, including our Chief Information Officer (CIO), and reports to the Board of Directors at least annually on data protection and cybersecurity matters and reviews the measures implemented by the Company to identify and mitigate data protection and cybersecurity risks. In addition to regularly scheduled Technology, Risk and Finance Committee reviews, we have in place processes and protocols by which certain cybersecurity incidents are reported immediately to the Company’s executive leadership team, and subsequently thereafter, as appropriate to the Technology, Risk and Finance Committee. Our CIO and our Director of Cybersecurity, who reports in to the CIO, have extensive cybersecurity knowledge and skills gained from over 30 years of work experience at the Company and elsewhere, respectively, and head the team responsible for implementing and maintaining cybersecurity and data protection practices across our business. Reporting to our CIO and Director of Cybersecurity are a number of experienced information security specialists responsible for various parts of our business, each of whom is supported by a team of trained cybersecurity professionals. The CIO and Director of Cybersecurity are informed about and monitor the prevention, detection, mitigation, and remediation of cybersecurity incidents through reports from this team and regularly review risk management measures implemented by the Company to identify and mitigate cyber security risks. The CIO also attends regular meetings of the Technology, Risk and Finance Committee to report information on material risks from cybersecurity threats.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	Our Board of Directors has delegated the primary responsibility to oversee cybersecurity matters to the Technology, Risk and Finance Committee of our Board of Directors. The Technology, Risk and Finance Committee receives regular reports from management, including our Chief Information Officer (CIO), and reports to the Board of Directors at least annually on data protection and cybersecurity matters and reviews the measures implemented by the Company to identify and mitigate data protection and cybersecurity risks. In addition to regularly scheduled Technology, Risk and Finance Committee reviews, we have in place processes and protocols by which certain cybersecurity incidents are reported immediately to the Company’s executive leadership team, and subsequently thereafter, as appropriate to the Technology, Risk and Finance Committee. Our CIO and our Director of Cybersecurity, who reports in to the CIO, have extensive cybersecurity knowledge and skills gained from over 30 years of work experience at the Company and elsewhere, respectively, and head the team responsible for implementing and maintaining cybersecurity and data protection practices across our business. Reporting to our CIO and Director of Cybersecurity are a number of experienced information security specialists responsible for various parts of our business, each of whom is supported by a team of trained cybersecurity professionals. The CIO and Director of Cybersecurity are informed about and monitor the prevention, detection, mitigation, and remediation of cybersecurity incidents through reports from this team and regularly review risk management measures implemented by the Company to identify and mitigate cyber security risks. The CIO also attends regular meetings of the Technology, Risk and Finance Committee to report information on material risks from cybersecurity threats.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	Our CIO and our Director of Cybersecurity, who reports in to the CIO, have extensive cybersecurity knowledge and skills gained from over 30 years of work experience at the Company and elsewhere, respectively, and head the team responsible for implementing and maintaining cybersecurity and data protection practices across our business.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	The Technology, Risk and Finance Committee receives regular reports from management, including our Chief Information Officer (CIO), and reports to the Board of Directors at least annually on data protection and cybersecurity matters and reviews the measures implemented by the Company to identify and mitigate data protection and cybersecurity risks. In addition to regularly scheduled Technology, Risk and Finance Committee reviews, we have in place processes and protocols by which certain cybersecurity incidents are reported immediately to the Company’s executive leadership team, and subsequently thereafter, as appropriate to the Technology, Risk and Finance Committee.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Significant Accounting Polici_2

Significant Accounting Policies and Accounting Developments (Policies)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Terminated Acquisition	Terminated Acquisition — On February 9, 2023, the Company entered into a definitive agreement to acquire all of the outstanding equity of Velan Inc., a manufacturer of highly engineered industrial valves. In October 2023, we received notice that the required French foreign investment screening approval was not obtained. As a result, the transaction was terminated. According to the terms of the agreement, no termination fee was paid by either party. Acquisition related expenses incurred during 2023 associated with the transaction were $7.3 million.
Principles of Consolidation	Principles of Consolidation — The consolidated financial statements include the accounts of our company and our wholly and majority owned subsidiaries. In addition, we consolidate any variable interest entities for which we are deemed to be the primary beneficiary. Noncontrolling interests of non-affiliated parties have been recognized for all majority-owned consolidated subsidiaries. Intercompany profits/losses, transactions and balances among consolidated entities have been eliminated from our consolidated financial statements. In the ordinary course of our operations worldwide, we have entered into joint ventures and interests (collectively referred to as “affiliates”) to provide greater flexibility in delivering our products and services, gain access to markets and geographical locations and reduce exposure and diversify risk. Investments in affiliate companies with a noncontrolling ownership interests between 20% and 50%, are unconsolidated and are accounted for using the equity method, which approximates our equity interest in their underlying equivalent net book value under accounting principles generally accepted in the U.S. ("U.S. GAAP"). All equity method investments are reviewed for impairment whenever events and conditions indicate that a decrease in the value of an investment has occurred that is other than temporary. If impaired, an impairment loss representing the difference between our carrying value and fair value is recorded and the investment is written down to a new carrying value. Investment in affiliate companies where we own less than 20% are accounted for by the cost method, whereby income is only recognized in the event of dividend receipt. Investments accounted for by the cost method are tested for impairment if an impairment indicator is present.
Use of Estimates	Use of Estimates — The process of preparing financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect reported amounts of certain assets, liabilities, revenues and expenses. We believe our estimates and assumptions are reasonable; however, actual results may differ materially from such estimates. The most significant estimates and assumptions are used in determining: • Timing and amount of revenue recognition; • Deferred taxes, tax valuation allowances and tax reserves; • Reserves for contingent loss; • Pension and postretirement benefits; • Valuation of goodwill, indefinite-lived intangible assets and other long-lived assets; and • Assets and liabilities acquired in a business combination.
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. More complex contracts with our customers typically have longer lead times and multiple commitments of goods and services, including any combination of designing, developing, manufacturing, modifying, installing and commissioning of flow management equipment and providing services and parts related to the performance of such products. We recognize revenue when (or as) we satisfy a performance obligation by transferring control to a customer. Transfer of control is evaluated based on the customer’s ability to direct the use of and obtain substantially all of the benefits of a performance obligation. Revenue is recognized either over time or at a point in time, depending on the specific facts and circumstances for each contract, including the terms and conditions of the contract as agreed with the customer and the nature of the products or services to be provided. Service-related revenues do not typically represent a significant portion of the contracts with our customers and do not meet the thresholds requiring separate disclosure. Our primary method for recognizing revenue over time is the POC method, whereby progress towards completion is measured by applying an input measure based on costs incurred to date relative to total estimated costs at completion. If control of the products and/or services does not transfer over time, then control transfers at a point in time. We determine the point in time that control transfers to a customer based on the evaluation of specific indicators, such as title transfer, risk of loss transfer, customer acceptance and physical possession. For a detailed discussion related to revenue recognition refer to Note 3, "Revenue Recognition."
Cash and Cash Equivalents	Cash and Cash Equivalents — We place temporary cash investments with financial institutions and, by policy, invest in those institutions and instruments that have minimal credit risk and market risk. These investments, with an original maturity of three months or less when purchased, are classified as cash equivalents. They are highly liquid and principal values are not subject to significant risk of change due to interest rate fluctuations.
Accounts Receivable, Allowance for Expected Credit Losses and Credit Risk	Accounts Receivable, Allowance for Expected Credit Losses and Credit Risk — Trade accounts receivables are recorded at the invoiced amount and do not bear interest. We establish an allowance for expected credit losses on an aging schedule and according to historical losses as determined from our billings and collections history. Additionally, we consider factors that are specific to our customers’ credit risk such as financial difficulties, liquidity issues, insolvency, and country and political risk. We also consider both the current and forecasted direction of macroeconomic conditions at the reporting date in estimating expected credit losses. Receivables are written off against the allowance in the period when the receivable is deemed to be uncollectible and further collection efforts have ceased. Subsequent recoveries of amounts previously written off are reflected as a reduction to credit impairment losses in the income statement. Credit risks are mitigated by the diversity of our customer base across many different geographic regions and industries and by performing creditworthiness analyses on our customers. Additionally, we mitigate credit risk through letters of credit and advance payments received from our customers. We do not believe that we have any other significant concentrations of credit risk.
Inventories and Related Reserves	Inventories and Related Reserves — Inventories are stated at the lower of cost or net realizable value. Cost is determined by the first-in, first-out method. Reserves for excess and obsolete inventories are based upon our assessment of market conditions for our products determined by historical usage and estimated future demand. Due to the long life cycles of our products, we carry spare parts inventories that have historically low usage rates and provide reserves for such inventory based on demonstrated usage and aging criteria.
Income Taxes, Deferred Taxes, Tax Valuation Allowances and Tax Reserves	Income Taxes, Deferred Taxes, Tax Valuation Allowances and Tax Reserves — We account for income taxes under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are calculated using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the period that includes the enactment date. We record valuation allowances to reduce the carrying value of deferred tax assets to amounts that we expect are more likely than not to be realized. We assess existing deferred tax assets, net operating losses and tax credits by jurisdiction and expectations of our ability to utilize these tax attributes through a review of past, current and estimated future taxable income and establishment of tax planning strategies. We provide deferred taxes for the temporary differences associated with our investment in foreign subsidiaries that have a financial reporting basis that exceeds tax basis, unless we can assert permanent reinvestment in foreign jurisdictions. Financial reporting basis and tax basis differences in investments in foreign subsidiaries consist of both unremitted earnings and losses, as well as foreign currency translation adjustments. The amount of income taxes we pay is subject to ongoing audits by federal, state, and foreign tax authorities, which often result in proposed assessments. We establish reserves for open tax years for uncertain tax positions that may be subject to challenge by various tax authorities. The consolidated tax provision and related accruals include the impact of such reasonably estimable losses and related interest and penalties as deemed appropriate. We recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities. The determination is based on the technical merits of the position and presumes that each uncertain tax position will be examined by the relevant taxing authority that has full knowledge of all relevant information. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement.
Legal and Environmental Contingencies	Legal and Environmental Contingencies — Legal and environmental reserves are recorded based upon a case-by-case analysis of the relevant facts and circumstances and an assessment of potential legal obligations and costs. Amounts relating to legal and environmental liabilities are recorded when it is probable that a loss has been incurred and such loss is reasonably estimable. Assessments of legal and environmental costs are based on information obtained from our independent and in-house experts and our loss experience in similar situations. Estimates are updated as applicable when new information regarding the facts and circumstances of each matter becomes available. Legal fees associated with legal and environmental liabilities are expensed as incurred. We are a defendant in a number of lawsuits that seek to recover damages for personal injury allegedly resulting from exposure to asbestos-containing products formerly manufactured and/or distributed by heritage companies of the Company. We have estimated that the liability for pending and future claims not yet asserted, and which are probable and estimable, could be experienced through 2054, which represents the expected end of our asbestos liability exposure with no further ongoing claims expected beyond that date. This estimate is based on the Company's historical claim experience and estimates of the number and resolution cost of potential future claims that may be filed based on anticipated levels of unique plaintiff asbestos-related claims in the U.S. tort system against all defendants, the diminished volatility and consistency of observable claims data, the period of time that has elapsed since we stopped manufacturing products that contained encapsulated asbestos and an expected downward trend in claims due to the average age of our claimants. This estimate is not discounted. In light of the uncertainties and variables inherent in the long-term projection of the total asbestos liability, as part of our ongoing review of asbestos claims, each year we will reassess the projected liability of unasserted asbestos claims to be filed through 2054, and we will continually reassess the time horizon over which a reasonable estimate of unasserted claims can be projected. We assess the sufficiency of the estimated liability for pending and future claims on an ongoing basis by evaluating actual experience regarding claims filed, settled and dismissed, and amounts paid in settlements. In addition to claims and settlement experience, we consider additional quantitative and qualitative factors such as changes in legislation, the legal environment and the Company's defense strategy. In connection with our ongoing review of asbestos-related claims, we have also reviewed the amount of potential insurance coverage for such claims, taking into account the remaining limits of such coverage, the number and amount of claims on our insurance from co-insured parties, ongoing litigation against the Company’s insurers, potential remaining recoveries from insolvent insurers, the impact of previous insurance settlements and coverage available from solvent insurers not party to the coverage litigation. We review ongoing insurance coverage available for a significant amount of the potential future asbestos-related claims and in the future could secure additional insurance coverage as deemed necessary. The study from the Company's actuary, based on data as of June 30, 2024, provided for a range of possible future liability from approximately $93.2 million to $143.7 million. The Company does not believe any amount within the range of potential outcomes represents a better estimate than another given the many factors and assumptions inherent in the projections and therefore the Company has recorded the liability at the actuarial central estimate of approximately $110.3 million as of December 31, 2024. In addition, the Company has recorded estimated insurance receivables of approximately $35.8 million as of December 31, 2024. The amounts recorded for the asbestos-related liability and the related insurance receivables are based on facts known at the time and a number of assumptions. However, projecting future events, such as the number of new claims to be filed each year, the length of time it takes to defend, resolve, or otherwise dispose of such claims, coverage issues among insurers and the continuing solvency of various insurance companies, as well as the numerous uncertainties surrounding asbestos litigation in the United States, could cause the actual liability and insurance recoveries for us to be higher or lower than those projected or recorded. 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 year. Changes recorded in the estimated liability and estimated insurance recovery based on projections of asbestos litigation and corresponding insurance coverage, result in the recognition of additional expense or income. For a discussion pertaining to the activity related to asbestos claims refer to Note 16, "Legal Matters and Contingencies."
Warranty Accruals	Warranty Accruals — Warranty obligations are based upon product failure rates, materials usage, service delivery costs, an analysis of all identified or expected claims and an estimate of the cost to resolve such claims. The estimates of expected claims are generally a factor of historical claims and known product issues. Warranty obligations based on these factors are adjusted based on historical sales trends for the prec eding 24 months.
Insurance Accruals	Insurance Accruals — Insurance accruals are recorded for wholly or partially self-insured risks such as medical benefits and workers’ compensation and are based upon an analysis of our claim loss history, insurance deductibles, policy limits and other relevant factors that are updated annually and are included in accrued liabilities in our consolidated balance sheets. The estimates are based upon information received from actuaries, insurance company adjusters, independent claims administrators or other independent sources. Receivables from insurance carriers are estimated using our historical experience with insurance recovery rates and estimates of future recoveries, which include estimates of coverage and financial viability of our insurance carriers. Estimated receivables are included in accounts receivable, net and other assets, net, as applicable, in our consolidated balance sheets.
Pension and Postretirement Obligations	Pension and Postretirement Obligations — Determination of pension and postretirement benefits obligations is based on estimates made by management in consultation with independent actuaries and investment advisors. Inherent in these valuations are assumptions including discount rates, expected rates of return on plan assets, retirement rates, mortality rates and rates of compensation increase and other factors all of which are reviewed annually and updated if necessary. Current market conditions, including changes in rates of return, interest rates and medical inflation rates, are considered in selecting these assumptions. Actuarial gains and losses and prior service costs are recognized in accumulated other comprehensive loss as they arise and we amortize these costs into net pension expense over the remaining expected service period.
Property, Plant and Equipment and Depreciation	Property, Plant and Equipment and Depreciation — Property, plant and equipment are stated at historical cost, less accumulated depreciation. If asset retirement obligations exist, they are capitalized as part of the carrying amount of the asset and depreciated over the remaining useful life of the asset. The useful lives of leasehold improvements are the lesser of the remaining lease term or the useful life of the improvement. When assets are retired or otherwise disposed of, their costs and related accumulated depreciation are removed from the accounts and any resulting gains or losses are included in income from operations for the period. Depreciation is computed by the straight-line method based on the estimated useful lives of the depreciable assets, or in the case of assets under finance leases, over the related lease term. Generally, the estimated useful lives of the assets are: Buildings and improvements 10 to 40 years Machinery, equipment and tooling 3 to 14 years Software, furniture and fixtures and other 3 to 7 years Costs related to routine repairs and maintenance are expensed as incurred.
Leases	Leases — We have operating and finance leases for certain manufacturing facilities, offices, service and quick response centers, machinery, equipment and automobiles. Our leases have remaining lease terms of up to 28 years. The terms and conditions of our leases may include options to extend or terminate the lease which are considered and included in the lease term when these options are reasonably certain of exercise. We determine if a contract is, or contains, a lease at inception by evaluating whether the contract conveys the right to control the use of an identified asset. For all classes of leased assets, we account for any non-lease components in the contract together with the related lease component in the same unit of account. For lease contracts containing more than one lease component, we allocate the contract consideration to each of the lease components on the basis of relative standalone prices in order to identify the lease payments for each lease component. Right-of-use ("ROU") assets and lease liabilities are recognized in our consolidated balance sheets at the commencement date based on the present value of remaining lease payments over the lease term. Additionally, ROU assets include any lease payments made at or before the commencement date, as well as any initial direct costs incurred, and are reduced by any lease incentives received. In determining the discount rate used to measure the right-of-use asset and lease liability, we utilize the Company’s incremental borrowing rate and consider the term of the lease, as well as the geographic location of the leased asset. Our incremental borrowing country-specific rate is determined based on information available at the commencement date of the lease. Operating leases are included in operating lease right-of-use assets, net and operating lease liabilities in our consolidated balance sheets. Finance leases are included in property, plant and equipment, debt due within one year and long-term debt due after one year in our consolidated balance sheets. For all classes of leased assets, we have applied an accounting policy election to exclude short-term leases from recognition in our consolidated balance sheets. A short-term lease has a lease term of 12 months or less at the commencement date and does not include a purchase option that is reasonably certain of exercise. We recognize short-term lease expense in our consolidated income statements on a straight-line basis over the lease term. Our short-term lease expense and short-term lease commitments as of December 31, 2024 are immaterial. We have certain lease contracts with terms and conditions that provide for variability in the payment amount based on changes in facts or circumstances occurring after the commencement date. These variable lease payments are recognized in our consolidated income statements as the obligation is incurred. We have certain lease contracts where we provide a guarantee to the lessor that the value of an underlying asset will be at least a specified amount at the end of the lease. Estimated amounts expected to be paid for residual value guarantees are included in lease liabilities and ROU assets. Supplier Finance Programs — We partner with two banks to offer our suppliers the option of participating in a supplier financing program and receive payment early. Under the program agreement, we must reimburse each bank for approved and valid invoices in accordance with the originally agreed upon terms with the supplier. We have no obligation for fees; subscription, service, commissions or otherwise with either bank. We also have no obligation for pledged assets or other forms of guarantee and may terminate either program agreement with appropriate notice. As of December 31, 2024, $8.6 million remained outstanding with the supply chain financing partner banks and recorded within accounts payable The rollforward of our outstanding obligations confirmed as valid under the supplier finance programs for the year ended December 31, 2024 is as follows: (Amounts in thousands) 2024 Obligations outstanding at the beginning of the year $ 13,527 Invoices confirmed 61,198 Confirmed invoices settled 66,154 Obligations outstanding at the end of the year $ 8,571
Internally Developed Software	Internally Developed Software — We capitalize certain costs associated with the development of internal-use software. Generally, these costs are related to significant software development projects and are amortized over their estimated useful life, typi cally three three
Intangible Assets	Intangible Assets — Intangible assets, excluding trademarks (which are considered to have an indefinite life), consist primarily of engineering drawings, patents, existing customer relationships, software, distribution networks , acquired backlog, and other items that are being amortized over their estimated useful lives generally ranging from one
Valuation of Goodwill, Indefinite-Lived Intangible Assets and Other Long-Lived Assets	Valuation of Goodwill, Indefinite-Lived Intangible Assets and Other Long-Lived Assets — The value of goodwill and indefinite-lived intangible assets is tested for impairment as of December 31 each year or whenever events or circumstances indicate such assets may be impaired. The identification of our goodwill reporting units begins at the operating segment level and considered whether components one level below the operating segment levels should be identified as reporting units for the purpose of testing goodwill for impairment based on certain conditions. These conditions included, among other factors, (i) the extent to which a component represents a business and (ii) the aggregation of economically similar components within the operating segments based on the similarity of the nature of the products and services, the nature of the production processes, the methods of distribution and the types of industries served. This resulted in two reporting units that are consistent with our operating and reportable segments, FPD and FCD, as no components exist one level below the operating segment levels for which discrete financial information is available for review by segment management. Accounting Standards Codification ("ASC") 350 allows an optional qualitative assessment, prior to a quantitative assessment test, to determine whether it is more likely than not that the fair value of a reporting unit exceeds its carrying amount. For goodwill, we generally do not attempt a qualitative assessment and proceed directly to the quantitative assessment, except in instances where we have completed an acquisition shortly before our annual impairment assessment. If the carrying value of a reporting unit exceeds its fair value, the goodwill of that reporting unit is impaired and an impairment loss is recorded equal to the excess of the carrying value over its fair value. We estimate the fair value of our reporting units based on an income approach, whereby we calculate the fair value of a reporting unit based on the present value of estimated future cash flows. A discounted cash flow analysis requires us to make various judgmental assumptions about future sales, operating margins, growth rates and discount rate, which are based on our budgets, business plans, economic projections, anticipated future cash flows and market participants. Based on our year-end annual analysis, we did not record an impairment of goodwill in 2024, 2023 or 2022. The FPD reporting unit is primarily focused on highly custom engineered pumps, pre-configured industrial pumps, pump systems, mechanical seals, auxiliary systems and replacement parts and related services. As of December 31, 2024 our FPD reporting unit had approximately $766 million of goodwill and an estimated fair value that exceeded its carrying value. The FCD reporting unit is primarily focused on a broad portfolio of engineered-to-order and configured-to-order isolation valves, control valves, valve automation products and related equipment. As of December 31, 2024 our FCD reporting unit had approximately $521 million of goodwill and an estimated fair value that exceeded its carrying value. The key factors considered in determining the estimated fair value of our reporting units included the annual operating plan and forecasted operating results, successful execution of our current continuous improvement and identified strategic initiatives, cost of capital, continued stabilization and mid to long-term improvement of the macro-economic conditions of the industries we serve, and a relatively stable global gross domestic product. Although we have concluded that there is no impairment on the goodwill associated with our reporting units as of December 31, 2024, we will continue to closely monitor performance and related market conditions for future indicators of potential impairment and reassess accordingly. We also considered our market capitalization in our evaluation of the fair value of our goodwill. Our market capitalization as of December 31, 2024 was favorable compared with 2023 and did not indicate a potential impairment of our goodwill as of December 31, 2024. Impairment losses for indefinite-lived intangible assets are recognized whenever the estimated fair value is less than the carrying value. Fair values are calculated for trademarks using a "relief from royalty" method, which estimates the fair value of a trademark by determining the present value of estimated royalty payments that are avoided as a result of owning the trademark. This method includes judgmental assumptions about sales growth and discount rates that have a significant impact on the fair value and are substantially consistent with the assumptions used to determine the fair value of our reporting unit discussed above. We did not record a material impairment of our trademarks in 2024, 2023 or 2022 . The recoverable value of other long-lived assets, including property, plant and equipment and finite-lived intangible assets, is reviewed when indicators of potential impairments are present. The recoverable value is based upon an assessment of the estimated future cash flows related to those assets, utilizing assumptions similar to those for goodwill. Additional considerations related to our long-lived assets include expected maintenance and improvements, changes in expected uses and ongoing operating performance and utilization.
Deferred Loan Costs	Deferred Loan Costs — Deferred loan costs, consisting of fees and other expenses associated with debt financing, are amortized over the term of the associated debt using the effective interest method. Additional amortization is recorded in periods where optional prepayments on debt are made.
Fair Values of Financial Instruments	Fair Values of Financial Instruments — Our financial instruments are presented at fair value in our consolidated balance sheets, with the exception of our long-term debt. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Where available, fair value is based on observable market prices or parameters or derived from such prices or parameters. Where observable prices or inputs are not available, valuation models may be applied. Assets and liabilities recorded at fair value in our consolidated balance sheets are categorized based upon the level of judgment associated with the inputs used to measure their fair values. Hierarchical levels, as defined by ASC 820, "Fair Value Measurements and Disclosures," are directly related to the amount of subjectivity associated with the inputs to fair valuation of these assets and liabilities. An asset or a liability’s categorization within the fair value hierarchy is based on the lowest level of significant input to its valuation. Hierarchical levels are as follows: Level I — Inputs are unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date. Level II — Inputs (other than quoted prices included in Level I) are either directly or indirectly observable for the asset or liability through correlation with market data at the measurement date and for the duration of the instrument’s anticipated life. Level III — Inputs reflect management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date. Consideration is given to the risk inherent in the valuation technique and the risk inherent in the inputs to the model. Recurring fair value measurements are limited to investments in derivative instruments. The fair value measurements of our derivative instruments are determined using models that maximize the use of the observable market inputs including interest rate curves and both forward and spot prices for currencies, and are classified as Level II under the fair value hierarchy. The fair values of our derivative instruments are included in Note 9, "Derivatives and Hedging Activities."
Derivatives and Hedging Activities	Derivatives and Hedging Activities — We have a foreign currency derivatives and hedging policy outlining the conditions under which we can enter into financial derivative transactions. We do not use derivative instruments for trading or speculative purposes. All derivative instruments are recognized on the balance sheet at their fair values. We employ a foreign currency economic hedging strategy to mitigate certain financial risks resulting from foreign currency exchange rate movements that impact foreign currency denominated receivables and payables, firm committed transactions and forecasted sales and purchases. The changes in the fair values are recognized immediately in other income (expense), net in the consolidated statements of income. See Note 9, "Derivatives and Hedging Activities," for further discussion of forward exchange contracts. We are exposed to risk from credit-related losses resulting from nonperformance by counterparties to our financial instruments. We perform credit evaluations of our counterparties and expect all counterparties to meet their obligations. If necessary, we would adjust the values of our derivative contracts for our or our counterparties’ credit risks.
Foreign Currency Translation	Foreign Currency Translation — Assets and liabilities of our foreign subsidiaries are translated to U.S. dollars at exchange rates prevailing at the balance sheet date, while income and expenses are translated at average rates for each month. Translation gains and losses are reported as a component of accumulated other comprehensive loss. Transactional currency gains and losses arising from transactions in currencies other than our sites’ functional currencies are included in our consolidated results of operations. Transaction and translation gains and losses arising from intercompany balances are reported as a component of accumulated other comprehensive loss when the underlying transaction stems from a long-term equity investment or from debt designated as not due in the foreseeable future. Otherwise, we recognize transaction gains and losses arising from intercompany transactions in our consolidated statements of income.
Stock-Based Compensation	Stock-Based Compensation — Stock-based compensation is measured at the grant-date fair value. The exercise price of stock option awards and the value of restricted shares, restricted share units and performance-based unit awards (collectively referred to as "Restricted Shares") are set at the closing price of our common stock on the New York Stock Exchange on the date of grant, which is the date such grants are authorized by our Board of Directors. Restricted share units and performance-based units refer to restricted awards that do not have voting rights and accrue dividends, and are forfeited if vesting does not occur. The intrinsic value of Restricted Shares, which is typically the product of share price at the date of grant and the number of Restricted Shares granted, is amortized on a straight-line basis to compensation expense over the periods in which the restrictions lapse based on the expected number of shares that will vest. We account for forfeitures as they occur resulting in the reversal of cumulative expense previously recognized.
Earnings Per Share	Earnings Per Share — We use the two-class method of calculating Earnings Per Share ("EPS"), which determines earnings per share for each class of common stock and participating security as if all earnings for the period had been distributed. Unvested restricted share awards that earn non-forfeitable dividend rights qualify as participating securities and, accordingly, are included in the basic computation as such. Our unvested Restricted Shares participate on an equal basis with common shares; therefore, there is no difference in undistributed earnings allocated to each participating security.
Research and Development Expense	Research and Development Expense — Research and development costs are charged to expense when incurred. Aggregate research and development costs included in SG &A were $69.9 million , $48.7 million and $39.9 million in 2024, 2023 and 2022, respectively. Costs incurred for research and development primarily include salaries and benefits and consumable supplies, as well as rent, professional fees, utilities and the depreciat ion of property and equipment used in research and development activities.
Shipping and Handling Costs	Shipping and Handling Costs — Amounts billed to customers for reimbursement of shipping and handling costs are recorded as revenue when the related revenue is recognized and shipping and handling costs are recognized in COS. All other shipping and handling costs are recognized in COS in the period in which they are incurred. Business Combination — The total purchase consideration for an acquisition is measured as the fair value of the assets transferred, equity instruments issued, and liabilities assumed at the acquisition date. Costs that are directly attributable to the acquisition are expensed as incurred and included in general and administrative expense in our consolidated statements of income. Identifiable assets (including intangible assets) and liabilities assumed (including contingent liabilities) are measured initially at their fair values at the acquisition date. We recognize goodwill if the fair value of the total purchase consideration is in excess of the net fair value of the identifiable assets acquired and the liabilities assumed. Determining the fair value of assets acquired and liabilities assumed requires us to use significant judgment and estimates including the selection of valuation methodologies, cost of capital, future cash flows, and discount rates. Our estimates of fair value are based on assumptions believed to be reasonable, but which are inherently uncertain and unpredictable and, as a result, actual results may differ from estimates. During the measurement period, not to exceed one year from the date of acquisition, we may record adjustments to the assets acquired and liabilities assumed, with a corresponding offset to goodwill. We include the results of operations of the acquired business in the consolidated financial statements beginning on the acquisition date. Our business combinations may include earn-out considerations as part of the purchase price that are liability-classified. The fair value of the earn-out consideration is estimated as of the acquisition date based on our estimates and assumptions. The fair value measurement may include inputs that are Level I, II or III under the fair value hierarchy, depending on their nature. Should actual results increase or decrease as compared to the assumption used in our analysis, the fair value of the earn-out consideration obligations will increase or decrease, as applicable. Changes in the fair value of the earn-out consideration are recorded within operating expenses.
Accounting Developments	Accounting Developments Pronouncements Implemented In March 2023, the FASB issued ASU No. 2023-01, "Leases (Topic 842): Common Control Arrangements." The amendments permit leasehold improvements to be amortized over the useful life of the asset when the lessee controls the use of the underlying asset, and the lease is between common control entities. The amendments further allow entities to account for leasehold improvements as a transfer of assets between entities under common control through an equity adjustment when the lessee is no longer in control of the underlying asset. The amendments are effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. The adoption of this ASU did not have a material impact on our consolidated balance sheets, consolidated statements of income or consolidated statements of cash flows. In March 2023, the FASB issued ASU No. 2023-02, "Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method." The amendments allow companies to account for all of their tax equity investments using the proportional amortization method if certain conditions are met. Companies can elect to apply the proportional amortization method on a tax-credit-program-by-tax-credit-program basis rather than unilaterally or on an individual investment basis. The amendments are effective on either a modified retrospective or retrospective basis for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years, depending on whether the company elects to evaluate its investments for which it still expects to receive income tax credits or other income tax benefits as of the beginning of the period of adoption or at the beginning of the earliest period presented. The adoption of this ASU did not have a material impact on our consolidated balance sheets, consolidated statements of income or consolidated statements of cash flows. In November 2023, the FASB issued ASU No. 2023-07, "Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures." The amendments enhance the disclosure requirements of significant segment expenses and other segment items. The amendments are effective for annual periods beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. The amendments are to be applied retrospectively to all prior periods presented in the financial statements. Upon transition, the segment expense categories and amounts disclosed in the prior periods should be based on the significant segment expense categories identified and disclosed in the period of adoption. Early adoption is permitted. Our adoption of this ASU effective January 1, 2024, applied retroactively as required, did not have an impact on our consolidated balance sheets, consolidated statements of income or consolidated statements of cash flows. Refer to Note 20, "Business Segment Information," for further implementation Topic 280. Pronouncements Not Yet Implemented In August 2023, the FASB issued ASU No. 2023-05, "Business Combinations - Joint Venture Formations (Subtopic 805-60): Recognition and Initial Measurement." The amendments require that newly formed joint ventures measure the net assets and liabilities contributed at fair value. Subsequent measurement is in accordance with the requirements for acquirers of a business in Sections 805-10-35, 805-20-35, and 805-30-35, and other generally accepted accounting principles. The amendments are effective prospectively for all joint venture formations with a formation date on or after January 1, 2025, but companies may elect to apply the amendments retrospectively to joint ventures formed prior to January 1, 2025, if it has sufficient information. Early adoption is permitted in any interim or annual period in which financial statements have not yet been issued (or made available for issuance), either prospectively or retrospectively. We do not expect the impact of this ASU to be material. In December 2023, the FASB issued ASU No. 2023-08, "Intangibles - Goodwill and Other - Crypto Assets (Subtopic 350-60)." The amendments require that assets that qualify as a crypto asset, in accordance with the new guidance, must be recorded and subsequently valued at fair value at each reporting period, recognizing changes within net income of the same period. The amendments also require that companies present crypto assets measured at fair value separately from other intangible assets on the balance sheet with changes related to the remeasurement of crypto assets reported separately from changes in carrying amounts of other intangible assets in the income statement. Specific disclosure is required around the activity of crypto assets during the reporting period. The amendments are effective for all entities for fiscal years beginning after December 15, 2024, including interim periods within those fiscal years. Early adoption is permitted. We do not own crypto assets, and therefore, do not expect the impact of this ASU to be material. In December 2023, the FASB issued ASU No. 2023-09, "Income Taxes (Topic 740)." The amendments require that entities on an annual basis disclose specific categories in the rate reconciliation, provide additional information for reconciling items that meet a quantitative threshold, and disclose specific information about income taxes paid. The amendments eliminate previously required disclosures around changes in unrecognized tax benefits and cumulative amounts of certain temporary differences. The amendments are effective prospectively for annual periods beginning after December 15, 2024. Early adoption is permitted. The amendments may be applied prospectively or retrospectively. We are evaluating the impact of this ASU on our disclosures. In November 2024, the FASB issued ASU No. 2024-03, "Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40)." The amendments require disclosure of amounts, in the notes to financial statements, of purchases of inventory, employee compensation, depreciation, intangible asset amortization, and depletion for each income statement line item that contains those expenses. Specified expenses, gains and losses that are already disclosed under existing U.S. GAAP are also required to be included in the disaggregated income statement expense line item disclosure. The amendments also require disclosure of the total amount of selling expenses and the entity's definition of selling expenses. The amendments are effective for annual reporting periods beginning after December 15, 2026. ASU No. 2025-01 on the same topic issued in January 2025 further clarifies the effective date for interim periods. The amendments are effective for interim reporting periods within annual reporting periods beginning after December 15, 2027. Early adoption is permitted. The amendments may be applied prospectively or retrospectively. We are evaluating the impact of this ASU on our disclosures.

Significant Accounting Polici_3

Significant Accounting Policies and Accounting Developments (Tables)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Schedule of Pre-Tax Charges	The following table presents the above impacts of the Russia pre-tax charge for the year ended December 31, 2022: Year Ended December 31, 2022 (Amounts in thousands) Flowserve Pumps Division Flow Control Division Consolidated Total Sales $ (9,330) $ — $ (9,330) Cost of sales ("COS") 7,442 1,418 8,860 Gross loss (16,772) (1,418) (18,190) Selling, general and administrative expense ("SG&A") 13,977 1,720 15,697 Operating loss $ (30,749) $ (3,138) $ (33,887)
Schedule of Estimated Useful Lives of Assets	Generally, the estimated useful lives of the assets are: Buildings and improvements 10 to 40 years Machinery, equipment and tooling 3 to 14 years Software, furniture and fixtures and other 3 to 7 years
Schedule of Supplier Finance Program	The rollforward of our outstanding obligations confirmed as valid under the supplier finance programs for the year ended December 31, 2024 is as follows: (Amounts in thousands) 2024 Obligations outstanding at the beginning of the year $ 13,527 Invoices confirmed 61,198 Confirmed invoices settled 66,154 Obligations outstanding at the end of the year $ 8,571

Acquisition (Tables)

Acquisition (Tables)	12 Months Ended
	Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Schedule of Business Acquisitions	The preliminary allocation of the purchase price is summarized below: (Amounts in millions) Accounts receivable $ 55.0 Contract assets 13.7 Inventories 45.3 Prepaid expenses and other 4.6 Indemnification asset 7.5 Total current assets 126.1 Intangible assets Trademark 19.0 Existing customer relationships 48.5 Backlog 10.5 Total intangible assets 78.0 Property, plant and equipment 41.9 Right-of-use assets 1.0 Total assets 247.0 Current liabilities (58.8) Noncurrent liabilities (0.5) Net assets 187.7 Goodwill 127.2 Purchase price, net of cash acquired of $3.1 million $ 314.9

Revenue Recognition (Tables)

Revenue Recognition (Tables)	12 Months Ended
	Dec. 31, 2024
Revenue Recognition and Deferred Revenue [Abstract]
Disaggregation of Revenue	The following table presents our customer revenues disaggregated by revenue source: December 31, 2024 (Amounts in thousands) FPD FCD Total Original Equipment $ 1,152,643 $ 1,065,408 $ 2,218,051 Aftermarket 2,001,508 338,247 2,339,755 $ 3,154,151 $ 1,403,655 $ 4,557,806 December 31, 2023 (Amounts in thousands) FPD FCD Total Original Equipment $ 1,147,906 $ 938,790 $ 2,086,696 Aftermarket 1,913,087 320,794 2,233,881 $ 3,060,993 $ 1,259,584 $ 4,320,577 December 31, 2022 (Amounts in thousands) FPD FCD Total Original Equipment $ 881,061 $ 825,508 $ 1,706,569 Aftermarket 1,636,939 271,612 1,908,551 $ 2,518,000 $ 1,097,120 $ 3,615,120 Our customer sales are diversified geographically. The following table presents our revenues disaggregated by geography, based on the shipping addresses of our customers: December 31, 2024 (Amounts in thousands) FPD FCD Total North America(1) $ 1,291,273 $ 551,101 $ 1,842,374 Latin America(1) 296,474 29,847 326,321 Middle East and Africa 542,399 223,440 765,839 Asia Pacific 425,743 363,868 789,611 Europe 598,262 235,399 833,661 $ 3,154,151 $ 1,403,655 $ 4,557,806 December 31, 2023 (Amounts in thousands) FPD FCD Total North America(1) $ 1,264,673 $ 556,208 $ 1,820,881 Latin America(1) 273,126 30,126 303,252 Middle East and Africa 538,037 146,552 684,589 Asia Pacific 436,813 302,700 739,513 Europe 548,344 223,998 772,342 $ 3,060,993 $ 1,259,584 $ 4,320,577 December 31, 2022 (Amounts in thousands) FPD FCD Total North America(1) $ 1,060,393 $ 472,467 $ 1,532,860 Latin America(1) 222,878 23,575 246,453 Middle East and Africa 372,148 101,017 473,165 Asia Pacific 389,366 305,193 694,559 Europe 473,215 194,868 668,083 $ 2,518,000 $ 1,097,120 $ 3,615,120 _____________________________________ (1) North America represents United States and Canada; Latin America includes Mexico.
Contract with Customer, Asset and Liability	The following table presents opening and closing balances of contract assets and contract liabilities, current and long-term, for the years ended December 31, 2024 and 2023: ( Amounts in thousands) Contract Assets, net (Current) Long-term Contract Assets, net(1) Contract Liabilities (Current) Long-term Contract Liabilities(2) Balance — January 1, 2023 $ 233,457 $ 297 $ 256,963 $ 1,059 Revenue recognized that was included in contract liabilities at the beginning of the period — — (209,560) — Increase due to revenue recognized in the period in excess of billings 890,150 932 — — Increase due to billings arising during the period in excess of revenue recognized — — 238,683 1,043 Amounts transferred from contract assets to receivables (842,780) (435) — — Currency effects and other, net (599) 240 1,611 (559) Balance — December 31, 2023 $ 280,228 $ 1,034 $ 287,697 $ 1,543 Revenue recognized that was included in contract liabilities at the beginning of the period — — (217,470) (740) Increase due to revenue recognized in the period in excess of billings 958,388 — — — Increase due to billings arising during the period in excess of revenue recognized — — 214,163 — Amounts transferred from contract assets to receivables (920,793) (656) — — Currency effects and other, net (18,917) 545 (720) (130) Balance — December 31, 2024 $ 298,906 $ 923 $ 283,670 $ 673 _____________________________________ (1) Included in other assets, net. (2) Included in retirement obligations and other liabilities.

Allowance for Expected Credit_2

Allowance for Expected Credit Losses (Tables)	12 Months Ended
	Dec. 31, 2024
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 accounts receivable and short-term contract assets as of December 31, 2024, 2023 and 2022: (Amounts in thousands) Accounts receivable Short-term contract assets Beginning balance, January 1, 2024 $ 80,013 $ 4,993 Charges to cost and expenses, net of recoveries 11,836 305 Write-offs (8,160) (1,781) Currency effects and other, net (4,630) (113) Ending balance, December 31 , 2024 $ 79,059 $ 3,404 Beginning balance, January 1, 2023 $ 83,062 $ 5,819 Charges to cost and expenses, net of recoveries 5,597 — Write-offs (10,947) (1,450) Currency effects and other, net 2,301 624 Ending balance, December 31 , 2023 $ 80,013 $ 4,993 Beginning balance, January 1, 2022 $ 74,336 $ 2,393 Charges to cost and expenses, net of recoveries 12,530 2,785 Write-offs (3,188) — Currency effects and other, net (616) 641 Ending balance, December 31 , 2022 $ 83,062 $ 5,819
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 as of December 31, 2024, 2023 and 2022: (Amounts in thousands) 2024 2023 2022 Beginning balance, January 1, $ 66,864 $ 66,377 $ 67,696 Currency effects and other, net (783) 487 (1,319) Ending balance, December 31, $ 66,081 $ 66,864 $ 66,377

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Summary of Other Lease Information	Other information related to our leases is as follows: December 31, 2024 2023 (Amounts in thousands) Finance Leases: ROU assets recorded under finance leases $ 32,385 $ 35,523 Accumulated depreciation associated with finance leases (17,020) (16,828) Total finance leases ROU assets, net(1) $ 15,365 $ 18,695 Total finance leases liabilities(2) $ 19,990 $ 19,374 The costs components of operating and finance leases are as follows: December 31, 2024 2023 2022 (Amounts in thousands) Operating Lease Costs: Fixed lease expense(3) $ 57,862 $ 55,588 $ 59,782 Variable lease expense(3) 8,990 8,131 7,412 Total operating lease expense $ 66,852 $ 63,719 $ 67,194 Finance Lease Costs: Depreciation of finance lease ROU assets(3) $ 6,800 $ 6,655 $ 5,984 Interest on lease liabilities(4) 1,047 885 604 Total finance lease expense $ 7,847 $ 7,540 $ 6,588 _____________________ (1) Included in property, plant and equipment, net (2) Included in debt due within one year long-term debt due after one year (3) Included in cost of sales and selling, general and administrative expense, accordingly (4) Included in interest expense
Schedule of Supplemental Cash Flows Information	Supplemental cash flows information related to our leases is as follows: December 31, (Amounts in thousands, except lease term and discount rate) 2024 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases(1) $ 64,976 $ 62,303 $ 57,712 Financing cash flows from finance leases(2) 6,964 8,234 6,039 ROU assets obtained in exchange for lease obligations: Operating leases $ 51,219 $ 18,570 $ 26,581 Finance leases 8,623 8,259 7,906 Weighted average remaining lease term (in years) Operating leases 7 years 8 years 8 years Finance leases 3 years 5 years 6 years Weighted average discount rate (percent) Operating leases 5.2 % 4.1 % 4.0 % Finance leases 5.6 % 4.6 % 3.9 % _____________________ (1) Included in our consolidated statement of cash flows, operating activities, prepaid expenses and other assets, net and retirement obligations and other (2) Included in our consolidated statement of cash flows, financing activities, payments under other financing arrangements
Schedule of Future Finance Lease Payments	Future undiscounted lease payments under operating and finance leases as of December 31, 2024, were as follows: Year ending December 31, Operating Finance Leases (Amounts in thousands) 2025 41,712 7,430 2026 35,243 5,692 2027 30,024 3,442 2028 25,553 1,703 2029 20,703 781 Thereafter 66,382 3,565 Total future minimum lease payments $ 219,617 $ 22,613 Less: Imputed interest (36,220) (2,623) Total $ 183,397 $ 19,990 Other current liabilities $ 33,559 $ — Operating lease liabilities 149,838 — Debt due within one year — 6,505 Long-term debt due after one year — 13,485 Total $ 183,397 $ 19,990
Schedule of Future Operating Lease Payments	Future undiscounted lease payments under operating and finance leases as of December 31, 2024, were as follows: Year ending December 31, Operating Finance Leases (Amounts in thousands) 2025 41,712 7,430 2026 35,243 5,692 2027 30,024 3,442 2028 25,553 1,703 2029 20,703 781 Thereafter 66,382 3,565 Total future minimum lease payments $ 219,617 $ 22,613 Less: Imputed interest (36,220) (2,623) Total $ 183,397 $ 19,990 Other current liabilities $ 33,559 $ — Operating lease liabilities 149,838 — Debt due within one year — 6,505 Long-term debt due after one year — 13,485 Total $ 183,397 $ 19,990

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Changes in Carrying Amount of Goodwill	The changes in the carrying amount of goodwill for the years ended December 31, 2024 and 2023 are as follows: FPD FCD Total (Amounts in thousands) Balance as of December 31, 2022 $ 772,273 $ 395,851 $ 1,168,124 Currency translation and other 7,723 6,378 14,101 Balance as of December 31, 2023 $ 779,996 $ 402,229 $ 1,182,225 Acquisition(1) — 127,249 127,249 Currency translation and other (14,256) (8,923) (23,179) Balance as of December 31, 2024 $ 765,740 $ 520,555 $ 1,286,295
Schedule of Changes in Intangible Assets	The following table provides information about our intangible assets for the years ended December 31, 2024 and 2023: December 31, 2024 December 31, 2023 Useful Ending Accumulated Ending Accumulated (Amounts in thousands, except years) Finite-lived intangible assets: Engineering drawings(1) 10-22 $ 89,529 $ (89,529) $ 92,105 $ (91,808) Existing customer relationships(2) 5-10 126,761 (79,039) 80,643 (76,121) Patents 9-16 25,086 (25,086) 26,388 (26,388) Other 1-40 102,634 (58,800) 92,307 (55,001) $ 344,010 $ (252,454) $ 291,443 $ (249,318) Indefinite-lived intangible assets(3) $ 98,721 $ (1,673) $ 81,824 $ (1,701) ____________________________________ (1) Engineering drawings represent the estimated fair value associated with specific acquired product and component schematics. (2) Includes customer relationships acquired as part of the MOGAS acquisition with useful lives of 5 and 10 years. Existing customer relationships acquired prior to 2011 had a useful life of five years. (3)
Schedule of Actual and Estimated Future Amortization of Finite-Lived Intangible Assets	The following schedule outlines actual amortization expense recognized during 2024 and an estimate of future amortization based upon the finite-lived intangible assets owned at December 31, 2024: Amortization (Amounts in thousands) Actual for year ended December 31, 2024 $ 10,023 Estimated for year ended December 31, 2025 15,476 Estimated for year ended December 31, 2026 7,069 Estimated for year ended December 31, 2027 7,069 Estimated for year ended December 31, 2028 7,069 Estimated for year ended December 31, 2029 6,952 Thereafter 47,921

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Dec. 31, 2024
Inventory Disclosure [Abstract]
Components of Inventory	Inventories consisted of the following: December 31, 2024 2023 (Amounts in thousands) Raw materials $ 391,562 $ 407,979 Work in process 262,173 302,655 Finished goods 275,975 278,787 Less: Excess and obsolete reserve (92,456) (109,484) Inventories $ 837,254 $ 879,937

Stock-Based Compensation Plans

Stock-Based Compensation Plans (Tables)	12 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Stock-Based Compensation	We recorded stock-based compensation for Restricted Shares as follows: Year Ended December 31, 2024 2023 2022 (Amounts in millions) Stock-based compensation expense $ 30.5 $ 27.8 $ 25.5 Related income tax benefit (6.9) (6.3) (5.8) Net stock-based compensation expense $ 23.6 $ 21.5 $ 19.7
Information Regarding Restricted Shares	The following table summarizes information regarding Restricted Shares: Year Ended December 31, 2024 Shares Weighted Average Number of unvested Restricted Shares: Outstanding — beginning of year 1,741,486 $ 36.06 Granted 823,703 42.73 Vested (787,870) 36.40 Canceled (110,636) 36.30 Outstanding — end of year 1,666,683 $ 39.18

Derivatives and Hedging Activ_2

Derivatives and Hedging Activities (Tables)	12 Months Ended
	Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of Fair Value of Forward Exchange Contracts not Designated as Hedging Instruments	The fair values of foreign exchange contracts are summarized below: Year Ended December 31, 2024 2023 (Amounts in thousands) Current derivative assets $ 4,633 $ 1,915 Noncurrent derivative assets 13 17 Current derivative liabilities 4,926 3,855 Noncurrent derivative liabilities 374 5
Impact of Net Changes in Fair Values of Forward Exchange Contracts Not Designated as Hedging Instruments	The impact of net changes in the fair values of foreign exchange contracts are summarized below: Year Ended December 31, 2024 2023 2022 (Amounts in thousands) Gains (losses) recognized in income $ 9,823 $ (12,914) $ (6,173)
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss)	The cumulative net investment hedge (gain) loss, net of deferred taxes, under cross-currency swaps recorded in AOCL on our consolidated balance sheets are summarized below: Year Ended December 31, 2024 2023 2022 (Amounts in thousands) (Gain) loss-included component (1) $ — $ — $ (37,135) (Gain) loss-excluded component (2) — — (11,875) (Gain) loss recognized in AOCL $ — $ — $ (49,010) _____________________________________________ (1) Change in the fair value of the swaps attributable to changes in spot rates.

Details of Certain Consolidat_2

Details of Certain Consolidated Balance Sheet Captions (Tables)	12 Months Ended
	Dec. 31, 2024
Details of Certain Consolidated Balance Sheet Captions [Abstract]
Accounts Receivable, net	Accounts receivable, net were: December 31, 2024 2023 (Amounts in thousands) Trade accounts receivables $ 1,026,891 $ 935,297 Less: allowance for expected credit losses (70,369) (67,487) Other short-term receivables 28,907 26,585 Less: allowance for expected credit losses (8,690) (12,526) Accounts receivable, net $ 976,739 $ 881,869
Property, Plant and Equipment, net	Property, plant and equipment, net were: December 31, 2024 2023 (Amounts in thousands) Land $ 61,351 $ 60,312 Buildings and improvements 450,718 427,332 Machinery, equipment and tooling 803,355 781,771 Software, furniture and fixtures and other 366,946 395,194 Gross property, plant and equipment 1,682,370 1,664,609 Less: accumulated depreciation (1,142,667) (1,158,451) Property, plant and equipment, net $ 539,703 $ 506,158
Accrued Liabilities	Accrued liabilities were: December 31, 2024 2023 (Amounts in thousands) Wages, compensation and other benefits $ 260,481 $ 264,914 Commissions and royalties 31,344 20,570 Warranty costs and late delivery penalties 31,290 26,521 Sales and use tax 29,247 25,880 Income tax 28,003 24,643 Other 181,121 141,902 Accrued liabilities $ 561,486 $ 504,430
Retirement Obligations and Other Liabilities	Retirement obligations and other liabilities were: December 31, 2024 2023 (Amounts in thousands) Pension and postretirement benefits $ 195,436 $ 202,583 Deferred taxes 1,775 1,335 Legal and environmental 99,984 93,989 Uncertain tax positions and other tax liabilities 40,172 51,584 Other 33,688 39,629 Retirement obligations and other liabilities $ 371,055 $ 389,120

Debt and Finance Lease Obliga_2

Debt and Finance Lease Obligations (Tables)	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Debt Including Finance Lease Obligations	Debt, including finance lease obligations, net of discounts and debt issuance costs, consisted of: December 31, 2024 2023 (Amounts in thousands) 3.50% USD Senior Notes due October 1, 2030, net of unamortized discount and debt issuance costs of $3,882 and $4,479 at December 31, 2024 and 2023, respectively 496,118 495,521 2.80% USD Senior Notes due January 15, 2032, net of unamortized discount and debt issuance costs of $4,585 and $5,164 at December 31, 2024 and 2023, respectively 495,415 494,836 Term Loan Facility, interest rate of 5.80% and 6.70%, net of debt issuance costs of $993 and $274 at December 31, 2024 and 2023, respectively 489,632 219,726 Finance lease obligations and other borrowings 23,026 23,467 Debt and finance lease obligations 1,504,191 1,233,550 Less amounts due within one year 44,059 66,243 Total debt due after one year $ 1,460,132 $ 1,167,307
Schedule Maturities of the Senior Credit Facility as well as our Senior Notes and other debt	Scheduled maturities of our Senior Notes and other debt, are (amounts in thousands): Term Loan Senior Notes and other debt Total (Amounts in thousands) 2025 $ 37,243 $ 6,559 $ 43,802 2026 40,388 16,468 56,856 2027 56,038 — 56,038 2028 74,822 — 74,822 2029 281,141 — 281,141 Thereafter — 991,532 991,532 Total $ 489,632 $ 1,014,559 $ 1,504,191

Pension and Postretirement Be_2

Pension and Postretirement Benefits (Tables)	12 Months Ended
	Dec. 31, 2024
Retirement Benefits [Abstract]
Schedule of Assumptions Related to Plans	The following are assumptions related to the U.S. defined benefit pension plans: Year Ended December 31, 2024 2023 2022 Weighted average assumptions used to determine Benefit Obligations: Discount rate 5.73 % 5.41 % 5.73 % Rate of increase in compensation levels 4.00 4.00 3.50 Weighted average assumptions used to determine net pension expense: Long-term rate of return on assets 6.00 % 6.00 % 5.75 % Discount rate 5.41 5.73 3.00 Rate of increase in compensation levels 4.00 3.50 3.50 Weighted-average interest crediting rates 4.00 % 4.00 % 3.79 % The following are assumptions related to the non-U.S. defined benefit pension plans: Year Ended December 31, 2024 2023 2022 Weighted average assumptions used to determine Benefit Obligations: Discount rate 4.71 % 4.22 % 4.46 % Rate of increase in compensation levels 3.51 3.24 3.61 Weighted average assumptions used to determine net pension expense: Long-term rate of return on assets 4.65 % 3.97 % 2.43 % Discount rate 4.22 4.46 1.71 Rate of increase in compensation levels 3.24 3.62 3.18 Weighted-average interest crediting rates 2.06 % 2.29 % 1.49 % The following are assumptions related to postretirement benefits: Year Ended December 31, 2024 2023 2022 Weighted average assumptions used to determine Benefit Obligation: Discount rate 5.78 % 5.57 % 5.83 % Weighted average assumptions used to determine net expense: Discount rate 5.57 % 5.83 % 2.83 %
Components of Net Periodic Cost for Pension and Postretirement Benefits	Net pension expense for the U.S. defined benefit pension plans (including both qualified and non-qualified plans) was: Year Ended December 31, 2024 2023 2022 (Amounts in thousands) Service cost $ 23,935 $ 21,341 $ 24,680 Interest cost 20,759 20,480 13,157 Expected return on plan assets (23,235) (23,931) (25,345) Settlement loss — 15 — Amortization of unrecognized prior service cost 194 185 175 Amortization of unrecognized net (gain) loss — (13) 3,461 U.S. net pension expense $ 21,653 $ 18,077 $ 16,128 Net pension expense for non-U.S. defined benefit pension plans was: Year Ended December 31, 2024 2023 2022 (Amounts in thousands) Service cost $ 6,381 $ 4,611 $ 5,984 Interest cost 12,401 11,897 6,506 Expected return on plan assets (7,740) (6,659) (5,883) Amortization of unrecognized net loss 2,561 1,270 2,729 Amortization of unrecognized prior service cost 296 300 293 Settlement (gain) loss and other (63) (23) (75) Non-U.S. net pension expense $ 13,836 $ 11,396 $ 9,554 Net postretirement benefit cost for postretirement medical plans was: Year Ended December 31, 2024 2023 2022 (Amounts in thousands) Interest cost $ 678 $ 761 $ 464 Amortization of unrecognized prior service cost 122 122 122 Amortization of unrecognized net loss (gain) 69 53 192 Net postretirement benefit expense $ 869 $ 936 $ 778
Schedule of Funded Status	The following summarizes the net pension (liability) asset for U.S. plans: December 31, 2024 2023 (Amounts in thousands) Plan assets, at fair value $ 352,517 $ 361,174 Benefit Obligation (415,236) (417,648) Funded status $ (62,719) $ (56,474) The following summarizes the net pension liability for non-U.S. plans: December 31, 2024 2023 (Amounts in thousands) Plan assets, at fair value $ 167,508 $ 179,450 Benefit Obligation (285,498) (297,600) Funded status - Underfunded $ (117,990) $ (118,150) The following summarizes the accrued postretirement benefits liability for the postretirement medical plans: December 31, 2024 2023 (Amounts in thousands) Postretirement Benefit Obligation $ 11,761 $ 12,417 Funded status $ (11,761) $ (12,417)
Schedule of Amounts Recognized in Balance Sheet	The following summarizes amounts recognized in the balance sheet for U.S. plans: December 31, 2024 2023 (Amounts in thousands) Current liabilities (154) (169) Noncurrent liabilities (62,565) (56,305) Funded status $ (62,719) $ (56,474) The following summarizes amounts recognized in the balance sheet for non-U.S. plans: December 31, 2024 2023 (Amounts in thousands) Noncurrent assets $ 12,211 $ 9,563 Current liabilities (9,282) (7,682) Noncurrent liabilities (120,919) (120,031) Funded status $ (117,990) $ (118,150) The following summarizes amounts recognized in the balance sheet for postretirement Benefit Obligation: December 31, 2024 2023 (Amounts in thousands) Current liabilities $ (1,985) $ (2,037) Noncurrent liabilities (9,776) (10,380) Funded status $ (11,761) $ (12,417)
Schedule of Benefit Obligations and Accumulated Benefit Obligations	The following is a summary of the changes in the U.S. defined benefit plans’ pension obligations: December 31, 2024 2023 (Amounts in thousands) Balance — January 1 $ 417,648 $ 382,959 Service cost 23,935 21,341 Interest cost 20,759 20,480 Plan amendments and settlements — (3,103) Actuarial loss (gain) (1) (6,588) 31,912 Benefits paid (40,518) (35,941) Balance — December 31 $ 415,236 $ 417,648 Accumulated benefit obligations at December 31 $ 415,236 $ 417,648 _______________________________________ (1) The actuarial gain in 2024 and loss in 2023 primarily reflect the impact of changes in the discount rate. The increase in the interest crediting rate assumption also contributed to the actuarial loss in 2023. The following is a reconciliation of the non-U.S. plans’ defined benefit pension obligations: December 31, 2024 2023 (Amounts in thousands) Balance — January 1 $ 297,600 $ 268,364 Service cost 6,381 4,611 Interest cost 12,401 11,897 Employee contributions 80 80 Settlements and other(3) 13,051 (982) Actuarial losses (gains)(1) (13,012) 17,082 Net benefits and expenses paid (17,393) (15,181) Currency translation impact(2) (13,610) 11,729 Balance — December 31 $ 285,498 $ 297,600 Accumulated benefit obligations at December 31 $ 264,367 $ 279,760 _______________________________________ (1) Actuarial losses (gains) primarily reflects the impact of changes in the discount rates for all plans. (2) In 2024, the currency translation gain reflects the strengthening of the U.S. dollar against the Euro and the British pound, while in 2023, the currency translation loss reflects the weakening of the U.S. dollar against the Euro and the British pound. (3) Includes $13.6 million for Middle East Pension Plans and $0.6 million for settlements. The following is a reconciliation of the postretirement Benefit Obligation: December 31, 2024 2023 (Amounts in thousands) Balance — January 1 $ 12,417 $ 13,353 Interest cost 678 761 Employee contributions 303 379 Medicare subsidies receivable 55 60 Actuarial gain (239) (49) Net benefits and expenses paid (1,453) (2,087) Balance — December 31 $ 11,761 $ 12,417
Schedule of Expected Cash Activity	The following table summarizes the expected cash benefit payments for the U.S. defined benefit pension plans in the future (amounts in millions): 2025 $ 43.1 2026 40.2 2027 38.3 2028 35.3 2029 33.5 2030-2034 150.6 The following table summarizes the expected cash benefit payments for the non-U.S. defined benefit plans in the future (amounts in millions): 2025 $ 29.2 2026 18.3 2027 18.1 2028 19.8 2029 20.1 2030-2034 102.7 The following presents expected benefit payments for future periods (amounts in millions): Expected 2025 $ 2.0 2026 1.8 2027 1.6 2028 1.5 2029 1.3 2030-2034 4.5
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table shows the change in accumulated other comprehensive loss attributable to the components of the net cost and the change in Benefit Obligations for U.S. plans, net of tax: December 31, 2024 2023 (Amounts in thousands) Balance — January 1 $ (62,602) $ (44,455) Amortization of net (gain) loss — (10) Amortization of prior service cost 148 141 Net loss arising during the year (4,143) (20,362) Settlement loss and other — 2,140 Prior service cost arising during the year — (56) Balance — December 31 $ (66,597) $ (62,602) Amounts recorded in accumulated other comprehensive loss consist of: December 31, 2024 2023 (Amounts in thousands) Unrecognized net loss $ (66,024) $ (61,904) Unrecognized prior service cost (573) (698) Accumulated other comprehensive loss, net of tax $ (66,597) $ (62,602) The following table shows the change in accumulated other comprehensive loss attributable to the components of the net cost and the change in Benefit Obligations for non-U.S. plans, net of tax: December 31, 2024 2023 (Amounts in thousands) Balance — January 1 $ (59,968) $ (42,421) Amortization of net loss 2,662 1,631 Net (losses) gains arising during the year 5,107 (16,039) Settlement (gains) losses (61) (23) Prior service gain (cost) arising during the year — 10 Currency translation impact and other 1,935 (3,126) Balance — December 31 $ (50,325) $ (59,968) Amounts recorded in accumulated other comprehensive loss consist of: December 31, 2024 2023 (Amounts in thousands) Unrecognized net loss $ (47,404) $ (56,698) Unrecognized prior service cost (2,921) (3,270) Accumulated other comprehensive loss, net of tax $ (50,325) $ (59,968) The following table shows the change in accumulated other comprehensive loss attributable to the components of the net cost and the change in Benefit Obligations for postretirement benefits, net of tax: 2024 2023 (Amounts in thousands) Balance — January 1 $ (325) $ (496) Amortization of net loss 52 41 Amortization of prior service cost 94 93 Net gain arising during the year 183 37 Balance — December 31 $ 4 $ (325) Amounts recorded in accumulated other comprehensive loss consist of: December 31, 2024 2023 (Amounts in thousands) Unrecognized net gain $ (259) $ 130 Unrecognized prior service cost 263 (455) Accumulated other comprehensive income, net of tax $ 4 $ (325)
Reconciliation of Plan Assets	The following is a reconciliation of the U.S. defined benefit pension plans’ assets: December 31, 2024 2023 (Amounts in thousands) Balance — January 1 $ 361,174 $ 365,044 Gain (loss) on plan assets 11,121 29,323 Company contributions 20,740 3,143 Benefits paid (40,518) (35,941) Settlements — (395) Balance — December 31 $ 352,517 $ 361,174 The following is a reconciliation of the non-U.S. plans’ defined benefit pension assets: December 31, 2024 2023 (Amounts in thousands) Balance — January 1 $ 179,450 $ 172,276 Return (Loss) on plan assets 1,372 4,444 Employee contributions 80 80 Company contributions 10,733 10,221 Settlements (581) (967) Currency translation impact (6,153) 8,577 Net benefits and expenses paid (17,393) (15,181) Balance — December 31 $ 167,508 $ 179,450
Allocation of Plan Assets	The asset allocations for the qualified plan at the end of 2024 and 2023 by asset category, are as follows: Target Allocation Percentage of Actual Plan Assets at December 31, Asset category 2024 2023 2024 2023 Cash and cash equivalents 1 % 1 % 1 % 2 % Cash and cash equivalents 1 % 1 % 1 % 2 % Global Equity 24 % 20 % 24 % 21 % Global Real Assets 18 % 14 % 19 % 15 % Equity securities 42 % 34 % 43 % 36 % Diversified Credit 18 % 14 % 18 % 15 % Liability-Driven Investment 39 % 51 % 38 % 47 % Fixed income 57 % 65 % 56 % 62 % The plan’s financial instruments, shown below, are presented at fair value. See Note 1, "Significant Accounting Policies and Accounting Developments," for further discussion on how the hierarchical levels of the fair values of the Plan’s investments are determined. The fair values of our U.S. defined benefit plan assets were: At December 31, 2024 At December 31, 2023 Hierarchical Levels Hierarchical Levels Total I II III Total I II III (Amounts in thousands) (Amounts in thousands) Cash and cash equivalents $ 3,497 $ 3,497 $ — $ — $ 5,798 $ 5,798 $ — $ — Commingled Funds: Equity securities Global Equity(a) 85,158 — 85,158 — 76,217 — 76,217 — Global Real Assets(b) 68,263 — 68,263 — 54,025 — 54,025 — Fixed income securities Diversified Credit(c) 63,873 — 63,873 — 54,756 — 54,756 — Liability-Driven Investment(d) 131,726 — 131,726 — 170,378 — 170,378 — $ 352,517 $ 3,497 $ 349,020 $ — $ 361,174 $ 5,798 $ 355,376 $ — _______________________________________ (a) Global Equity fund seeks to closely track the performance of the MSCI All Country World Index. (b) Global Real Asset funds seek to provide exposure to the listed global real estate investment trusts and infrastructure markets. (c) Diversified Credit funds seek to provide exposure to the high yield, emerging markets, bank loans and securitized credit markets. (d) LDI funds seek to invest in high quality fixed income securities that collectively closely match those found in discount curves used to value the plan's liabilities. The asset allocations for the non-U.S. defined benefit pension plans at the end of 2024 and 2023 are as follows: Target Allocation at Percentage of Actual Plan Asset category 2024 2023 2024 2023 Cash and cash equivalents 1 % — % 1 % — % Cash and cash equivalents 1 % — % 1 % — % U.K. Government Gilt Index 32 % 39 % 32 % 39 % Liability-Driven Investment 15 % 12 % 15 % 12 % Fixed income 47 % 51 % 47 % 51 % Multi-asset 21 % 19 % 21 % 19 % Buy-in Contracts 18 % 18 % 18 % 18 % Other 13 % 12 % 13 % 12 % Other types 52 % 49 % 52 % 49 % The fair values of the non-U.S. assets were: At December 31, 2024 At December 31, 2023 Hierarchical Levels Hierarchical Levels Total I II III Total I II III (Amounts in thousands) (Amounts in thousands) Cash $ 2,454 $ 2,454 $ — — $ 706 $ 706 $ — $ — Commingled Funds: Fixed income securities U.K. Government Gilt Index(a) 54,208 — 54,208 — 69,566 — 69,566 — Liability-Driven Investment(b) 23,778 — 23,778 — 21,873 — 21,873 — Other Types of Investments: Multi-asset(c) 35,346 — 35,346 — 34,693 — 34,693 — Buy-in Contracts(d) 30,647 — — 30,647 31,692 — — 31,692 Other(e) 21,075 — — 21,075 20,920 — — 20,920 $ 167,508 $ 2,454 $ 113,332 $ 51,722 $ 179,450 $ 706 $ 126,132 $ 52,612 _______________________________________ (a) U.K. Government Gilt Index represents U.K. government issued fixed income investments which are passively managed to track their respective benchmarks. (b) LDI seeks to invest in fixed income securities that collectively closely match those found in discount curves used to value the plan's liabilities. (c) Multi-asset seeks an attractive risk-adjusted return by investing in a diversified portfolio of strategies, including equities and fixed income. (d) The Buy-in Contracts ("Contract" or "Contracts") represent assets held by plans, whereby the cost of providing benefits to plan participants is funded by the Contract. The Contracts are held by the plans for the benefit of plan participants in the Netherlands and United Kingdom. The fair value of these assets are based on the current present value of accrued benefits and will fluctuate based on changes in the obligations associated with covered plan members as well as the assumptions used in the present value calculation. The fair value of assets held in the Netherlands Contract as of January 1, 2024 was $16.9 million, with benefit payments of $1.0 million, contributions and return on assets of $0.3 million and negative currency adjustments of $1.0 million resulting in a fair value of $15.2 million at December 31, 2024. Similarly, the fair value of asset held in the U.K. plan Contract as of January 1, 2024 was $14.8 million, with benefit payments of $1.0 million, return on assets of $1.9 million and negative currency adjustments of $0.3 million resulting in a fair value of $15.4 million at December 31, 2024. There were no material transfers into or out of Level III. (e) Includes assets held by plans outside the United Kingdom, the Netherlands and Canada. Details of each plan have not been provided due to immateriality. The fair value of the assets as of January 1, 2024 was $20.9 million, with contributions of $10.5 million, payments of $9.2 million, settlements and return on assets of $1.1 million and negative currency adjustments of $2.2 million resulting in a fair value of $21.1 million at December 31, 2024. There were no material transfers into or our of Level III.
Schedule of Benefit Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets	The following summarizes key pension plan information regarding U.S. and non-U.S. plans whose accumulated benefit obligations exceed the fair value of their respective plan assets. December 31, 2024 2023 (Amounts in thousands) Benefit Obligation $ 575,538 $ 590,015 Accumulated benefit obligation 559,725 577,942 Fair value of plan assets 384,006 407,307

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2024
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: Year Ended December 31, 2024 2023 2022 (Amounts in thousands, except per share data) Net earnings of Flowserve Corporation $ 282,759 $ 186,743 $ 188,689 Dividends on restricted shares not expected to vest — — — Earnings attributable to common and participating shareholders $ 282,759 $ 186,743 $ 188,689 Weighted average shares: Common stock 131,450 131,074 130,591 Participating securities 38 43 39 Denominator for basic earnings per common share 131,488 131,117 130,630 Effect of potentially dilutive securities 868 814 685 Denominator for diluted earnings per common share 132,356 131,931 131,315 Net earnings per share attributable to Flowserve Corporation common shareholders: Basic $ 2.15 $ 1.42 $ 1.44 Diluted 2.14 1.42 1.44

Legal Matters and Contingenci_2

Legal Matters and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Schedule of Loss Contingencies by Contingency	Activity related to asbestos claims during the periods indicated was as follow s : 2024 2023 2022 Beginning claims, January 1,(1) 8,236 8,139 8,712 New claims 2,761 2,470 2,454 Resolved claims (3,027) (2,545) (2,204) Other(2) 157 172 (823) Ending claims, December 31,(1) 8,127 8,236 8,139 ____________________ (1) Beginning and ending claims data in each period excludes inactive claims, as the Company assumes that inactive cases will not 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”.
Changes in Estimated Asbestos Liability	The following table presents the changes in the estimated asbestos liability as of December 31, 2024, 2023 and 2022: (Amounts in thousands) 2024 2023 2022 Beginning balance, January 1, $ 102,903 $ 98,652 $ 94,423 Asbestos liability adjustments, net 23,740 22,237 14,782 Cash payment activity (10,618) (12,589) (5,733) Other, net (5,693) (5,397) (4,820) Ending balance, December 31, $ 110,332 $ 102,903 $ 98,652

Warranty Reserve (Tables)

Warranty Reserve (Tables)	12 Months Ended
	Dec. 31, 2024
Product Warranties Disclosures [Abstract]
Schedule of Activity in the Warranty Reserve	The following is a summary of the activity in the warranty reserve: Year Ended December 31, 2024 2023 2022 (Amounts in thousands) Balance — January 1 $ 26,698 $ 22,047 $ 23,893 Accruals for warranty expense, net of adjustments 26,271 26,528 17,342 Settlements made (21,439) (21,877) (19,188) Balance — December 31 $ 31,530 $ 26,698 $ 22,047

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Dividends Declared	Dividends declared per share were as follows: Year Ended December 31, 2024 2023 2022 Dividends declared per share $ 0.84 $ 0.80 $ 0.80

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Schedule of Provision for Income Taxes	The provision (benefit) for income taxes consists of the following: Year Ended December 31, 2024 2023 2022 (Amounts in thousands) Current: U.S. federal $ 36,330 $ 24,766 $ 45,130 Foreign 56,991 51,431 40,876 State and local 5,055 5,018 6,177 Total current provision (benefit) 98,376 81,215 92,183 Deferred: U.S. federal (12,648) 3,665 (88,498) Foreign 381 (62,944) (42,756) State and local (1,180) (3,374) (4,568) Total deferred provision (benefit) (13,447) (62,653) (135,822) Total provision (benefit) $ 84,929 $ 18,562 $ (43,639)
Schedule of Reconciliation Statutory Corporate Rate to Provision for Income Taxes	The provision for income taxes differs from the statutory corporate rate due to the following: Year Ended December 31, 2024 2023 2022 (Amounts in millions) Statutory federal income tax at 21% $ 81.1 $ 47.0 $ 32.4 Base Erosion and Anti-abuse Tax — — (7.6) Foreign impact, net 63.5 10.4 (22.3) Change in valuation allowances (58.3) (34.5) (50.5) Research and development credit (4.7) (2.9) (1.0) U.S. federal tax return to accrual adjustments, not separately disclosed in other categories (0.9) (4.8) 1.8 Other, net 4.2 3.4 3.6 Total 84.9 18.6 (43.6) Effective tax rate 22.0 % 8.3 % (28.3) %
Schedule of Deferred Tax Assets and Liabilities	Significant components of the consolidated deferred tax assets and liabilities were: December 31, 2024 2023 (Amounts in thousands) Deferred tax assets related to: Retirement benefits $ 34,778 $ 34,526 Net operating loss carryforwards 105,174 186,337 Compensation accruals 37,785 41,688 Inventories 29,764 33,168 Credit and capital loss carryforwards 166,999 185,162 Warranty and accrued liabilities 53,466 47,614 Capitalized research and experimental expenditures 67,206 60,542 Other 81,600 89,510 Total deferred tax assets 576,772 678,547 Valuation allowances (250,841) (347,673) Net deferred tax assets $ 325,931 $ 330,874 Deferred tax liabilities related to: Goodwill and intangibles $ (81,241) $ (81,245) Foreign undistributed earnings (7,179) (10,477) Operating lease right-of-use-assets (16,967) (20,198) Other (581) (1,930) Total deferred tax liabilities (105,968) (113,850) Deferred tax asset (liabilities), net $ 219,963 $ 217,024
Schedule of Deferred Tax Asset Valuation Allowance	The following schedule presents the changes in deferred tax asset valuation allowance as follows: (Amounts in thousands) Balance at Additions Additions charged to other accounts - currency effects and other, net Deductions from reserve Balance at end of year Year Ended December 31, 2024 Deferred tax asset valuation allowance(1): $ 347,672 $ 6,964 $ (37,286) $ (66,509) $ 250,841 Year Ended December 31, 2023 Deferred tax asset valuation allowance(1): 356,557 19,684 25,367 (53,936) 347,672 Year Ended December 31, 2022 Deferred tax asset valuation allowance(1): 415,962 36,822 (11,775) (84,452) 356,557 ______________________________ (1) Deductions from reserve result from the release of valuation allowances on deferred tax assets, expiration or utilization of net operating losses and foreign tax credits previously reserved. Additions to reserve result from the establishment of valuation allowances on deferred tax assets, generation of net operating losses and foreign tax credits.
Schedule of Earnings Before Income Tax	Earnings before income taxes comprised: Year Ended December 31, 2024 2023 2022 (Amounts in thousands) U.S. $ 109,794 $ 212,631 $ 63,508 Foreign 276,361 11,119 90,868 Total $ 386,155 $ 223,750 $ 154,376
Schedule of Unrecognized Tax Benefits Roll Forward	A tabular reconciliation of the total gross amount of unrecognized tax benefits, excluding interest and penalties, is as follows (in millions): 2024 2023 2022 Balance — January 1 $ 46.2 $ 50.2 $ 49.9 Gross amount of increase (decrease) in unrecognized tax benefits resulting from tax positions taken: During a prior year 0.1 (9.1) 5.4 During the current period 7.2 7.4 5.8 Decreases in unrecognized tax benefits relating to: Settlements with taxing authorities — (2.8) (5.5) Lapse of the applicable statute of limitations (1.9) (1.4) (4.1) Increase (decrease) in unrecognized tax benefits relating to foreign currency translation adjustments (5.5) 1.9 (1.3) Balance — December 31 $ 46.1 $ 46.2 $ 50.2

Business Segment Information (T

Business Segment Information (Tables)	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Summarized Financial Information of Reportable Segments	The following is a summary of the financial information of our reportable segments as of and for the years ended December 31, 2024, 2023 and 2022 reconciled to the amounts reported in the consolidated financial statements. Subtotal—Reportable Segments Eliminations and All Other Consolidated Total FPD FCD (Amounts in thousands) Year Ended December 31, 2024: Sales to external customers $3,154,151 $ 1,403,655 $ 4,557,806 $ — $ 4,557,806 Intersegment sales 4,416 5,641 10,057 (10,057) — Cost of sales (2,141,520) (985,323) (3,126,843) SG&A (556,225) (252,675) (808,900) Other segment items (1) 19,394 (13,033) 6,361 Segment operating income (loss) 480,216 158,265 638,481 Depreciation and amortization 45,726 21,503 67,229 18,369 85,598 Identifiable assets 3,042,859 1,739,425 4,782,284 718,537 5,500,821 Capital expenditures 51,315 20,095 71,410 9,609 81,019 Subtotal—Reportable Segments Eliminations and All Other Consolidated Total FPD FCD (Amounts in thousands) Year Ended December 31, 2023: Sales to external customers $3,060,993 $ 1,259,584 $ 4,320,577 $ — $ 4,320,577 Intersegment sales 3,487 6,448 9,935 (9,935) — Cost of sales (2,157,705) (893,224) (3,050,929) SG&A (575,792) (224,774) (800,566) Other segment items (2) 17,884 — 17,884 Segment operating income (loss) 348,867 148,034 496,901 Depreciation and amortization 47,628 17,249 64,877 18,870 83,747 Identifiable assets 3,191,726 1,333,973 4,525,699 583,020 5,108,719 Capital expenditures 41,613 15,953 57,566 9,793 67,359 Subtotal—Reportable Segments Eliminations and All Other Consolidated Total FPD FCD (Amounts in thousands) Year Ended December 31, 2022: Sales to external customers $ 2,518,000 $ 1,097,120 $ 3,615,120 $ — $ 3,615,120 Intersegment sales 4,508 3,489 7,997 (7,997) — Cost of sales (1,794,425) (795,095) (2,589,520) SG&A (538,523) (192,097) (730,620) Other segment items (2) 18,397 — 18,397 Segment operating income (loss) 207,957 113,417 321,374 Depreciation and amortization 49,654 18,931 68,585 22,368 90,953 Identifiable assets 3,110,733 1,269,690 4,380,423 410,211 4,790,634 Capital expenditures 34,295 17,178 51,473 24,814 76,287 ______________________________ (1) Other segment items comprises Net Earnings from Affiliates as well as the Loss on sale of business of $13 million recorded in the FCD segment in the second quarter of 2024 related to disposal of the NAF AB control valves business. (2) Other segment items comprises Net Earnings from Affiliates. The following are reconciliations from total segment operating income to earnings before income tax reported in the consolidated income statement. Year Ended December 31, 2024 2023 2022 (Amounts in thousands) Total segment operating income (loss) $ 638,481 $ 496,901 $ 321,374 Intersegment sales (10,057) (9,935) (7,997) Eliminations and all other cost of sales 3,282 7,180 (31,305) Eliminations and all other SG&A (169,137) (160,603) (84,926) Interest expense (69,301) (66,924) (46,247) Interest income 5,371 6,991 3,963 Net earnings (loss) from affiliates (290) 10 73 Other income (expense), net (12,194) (49,870) (559) Earnings before income taxes 386,155 223,750 154,376
Schedule of Sales and Long-lived Assets by Geographic Area	Sales and long-lived assets by geographic area are as follows: Year Ended December 31, 2024 Sales Percentage Long-Lived Percentage (Amounts in thousands, except percentages) United States $ 1,823,595 40.0 % $ 421,797 46.9 % EMA(1) 1,583,302 34.7 % 278,197 30.9 % Asia(2) 676,989 14.9 % 151,727 16.9 % Other(3) 473,920 10.4 % 47,962 5.3 % Consolidated total $ 4,557,806 100.0 % $ 899,683 100.0 % Year Ended December 31, 2023 Sales Percentage Long-Lived Percentage (Amounts in thousands, except percentages) United States $ 1,821,751 42.2 % $ 394,395 44.7 % EMA(1) 1,503,776 34.8 % 289,061 32.8 % Asia(2) 584,759 13.5 % 140,596 15.9 % Other(3) 410,291 9.5 % 58,059 6.6 % Consolidated total $ 4,320,577 100.0 % $ 882,111 100.0 % Year Ended December 31, 2022 Sales Percentage Long-Lived Percentage (Amounts in thousands, except percentages) United States $ 1,536,961 42.5 % $ 412,896 46.6 % EMA(1) 1,210,436 33.5 % 274,511 30.9 % Asia(2) 524,952 14.5 % 144,206 16.2 % Other(3) 342,771 9.5 % 56,132 6.3 % Consolidated total $ 3,615,120 100.0 % $ 887,745 100.0 % ___________________________________ (1) "EMA " includes Europe, the Middle East and Africa. The United Kingdom accounted for approximate ly 10% for 2024 , 11% for 2023 and 10% for 2022, of consolidated long-lived assets. No other individual country within t his group represents 10% or more of consolidated totals for any period presented. (2) "Asia" includes Asia and Austral ia. No individual country wi thin this group represent s 10% or more of consolidated totals for any period presented. (3) "Other" includes Canada and Latin Am erica. No individual country within this group repres ents 10% or more of consolidated totals for any period presented.

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	12 Months Ended
	Dec. 31, 2024
Accumulated Other Comprehensive Loss [Abstract]
Schedule of Accumulated Other Comprehensive Loss	The following table presents the changes in Accumulated Other Comprehensive Loss ("AOCL"), net of related tax effects: 2024 (Amounts in thousands) Foreign currency translation items(1) Pension and other post-retirement effects Cash flow hedging activity (2) Total(1) Balance - January 1 $ (523,873) $ (121,882) $ (813) $ (646,568) Other comprehensive income (loss) before reclassifications (3) (111,790) 5,728 — (106,062) Amounts reclassified from AOCL 3,566 256 66 3,888 Net current-period other comprehensive income (loss) (3) (108,224) 5,984 66 (102,174) Balance - December 31 $ (632,097) $ (115,898) $ (747) $ (748,742) 2023 (Amounts in thousands) Foreign currency translation items(1) Pension and other post-retirement effects Cash flow hedging activity (2) Total(1) Balance - January 1 $ (554,683) $ (86,356) $ (933) $ (641,972) Other comprehensive income (loss) before reclassifications (3) 30,810 (37,218) — (6,408) Amounts reclassified from AOCL — 1,692 120 1,812 Net current-period other comprehensive income (loss) (3) 30,810 (35,526) 120 (4,596) Balance - December 31 $ (523,873) $ (121,882) $ (813) $ (646,568) 2022 (Amounts in thousands) Foreign currency translation items(1) Pension and other post-retirement effects Cash flow hedging activity (2) Total(1) Balance - January 1 $ (456,025) $ (101,665) $ (1,336) $ (559,026) Other comprehensive income (loss) before reclassifications (3) (98,658) 16,684 314 (81,660) Amounts reclassified from AOCL — (1,375) 89 (1,286) Net current-period other comprehensive income (loss) (3) (98,658) 15,309 403 (82,946) Balance - December 31 $ (554,683) $ (86,356) $ (933) $ (641,972) _______________________________________ (1) Includes foreign currency translation adjustments attributable to noncontrolling interests of $(7.3) million, $(7.0) million, $5.8 million and $4.6 million for December 31, 2024, 2023, 2022 and 2021, respectively. Also includes the cumulative impacts from the changes in fair value of our cross-currency swaps, which were $49.0 million for December 31, 2022. (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.
Reclassifications from Accumulated Other Comprehensive Loss	The following table presents the reclassifications out of AOCL: (Amounts in thousands) Affected line item in the statement of income 2024(1) 2023(1) 2022(1) Pension and other postretirement effects Amortization of actuarial losses(2) Other income (expense), net $ (68) $ (1,310) $ (6,382) Prior service costs(2) Other income (expense), net (316) (608) (591) Settlements and other(2) Other income (expense), net — 8 (75) Tax benefit (expense) 128 218 8,423 Net of tax $ (256) $ (1,692) $ 1,375 Cash flow hedging activity Amortization of Treasury rate lock Interest income (expense) $ (123) $ (120) $ (117) Tax benefit (expense) 57 — 28 Net of tax $ (66) $ (120) $ (89) ______________________________________ (1) Amounts in parentheses indicate decreases to income. None of the reclassification amounts have a noncontrolling interest component. (2) These AOCL components are included in the computation of net periodic pension cost. See Note 14, "Pension and Postretirements Benefits," for additional details.

Realignment and Transformatio_2

Realignment and Transformation Programs (Tables)	12 Months Ended
	Dec. 31, 2024
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs	December 31, 2024 (Amounts in thousands) FPD FCD Subtotal–Reportable Segments All Other Consolidated Total Restructuring Charges COS $ 24,113 $ (1,364) $ 22,749 $ — $ 22,749 SG&A 1,306 2,599 3,905 (28) 3,877 Loss on sale of business(1) — 12,981 12,981 — 12,981 $ 25,419 $ 14,216 $ 39,635 $ (28) $ 39,607 Non-Restructuring Charges COS $ 6,614 $ 2,440 $ 9,054 $ (228) $ 8,826 SG&A (228) 497 269 794 1,063 $ 6,386 $ 2,937 $ 9,323 $ 566 $ 9,889 Total Realignment Charges COS $ 30,727 $ 1,076 $ 31,803 $ (228) $ 31,575 SG&A 1,078 3,096 4,174 766 4,940 Loss on sale of business(1) — 12,981 12,981 — 12,981 Total $ 31,805 $ 17,153 $ 48,958 $ 538 $ 49,496 __________________________________ (1) Loss on sale of business related to NAF AB control valves business as described within Note 1, "Significant Accounting Policies and Accounting Developments," to our consolidated financial statements included in this Annual Report. December 31, 2023 (Amounts in thousands) FPD FCD Subtotal–Reportable Segments All Other Consolidated Total Restructuring Charges COS $ 2,962 $ 6,405 $ 9,367 $ 66 $ 9,433 SG&A 50 9,777 9,827 — 9,827 $ 3,012 $ 16,182 $ 19,194 $ 66 $ 19,260 Non-Restructuring Charges COS $ 7,835 $ 4,171 $ 12,006 $ (427) $ 11,579 SG&A 14,483 1,616 16,099 19,099 35,198 $ 22,318 $ 5,787 $ 28,105 $ 18,672 $ 46,777 Total Realignment Charges COS $ 10,797 $ 10,576 $ 21,373 $ (361) $ 21,012 SG&A 14,533 11,393 25,926 19,099 45,025 Total $ 25,330 $ 21,969 $ 47,299 $ 18,738 $ 66,037 The following is a summary of total charges, net of adjustments, incurred related to our 2020 Realignment Program: December 31, 2022 (Amounts in thousands) FPD FCD Subtotal–Reportable Segments All Other Consolidated Total Restructuring Charges COS $ 768 $ 93 $ 861 $ — $ 861 SG&A — (4) (4) — (4) $ 768 $ 89 $ 857 $ — $ 857 Non-Restructuring Charges COS $ (530) $ 86 $ (444) $ (61) $ (505) SG&A 148 (391) (243) (274) (517) $ (382) $ (305) $ (687) $ (335) $ (1,022) Total Realignment Charges COS $ 238 $ 179 $ 417 $ (61) $ 356 SG&A 148 (395) (247) (274) (521) Total $ 386 $ (216) $ 170 $ (335) $ (165) The following is a summary of total inception to date charges, net of adjustments, related to the 2023 Realignment Programs: Inception to Date (Amounts in thousands) FPD FCD Subtotal–Reportable Segments All Other Consolidated Total Restructuring Charges COS $ 27,076 $ 5,041 $ 32,117 66 $ 32,183 SG&A 1,355 12,376 $ 13,731 (28) 13,703 Loss on sale of business(1) — 12,981 $ 12,981 — 12,981 $ 28,431 $ 30,398 $ 58,829 $ 38 $ 58,867 Non-Restructuring Charges COS $ 11,506 $ 6,612 $ 18,118 $ (655) $ 17,463 SG&A 14,256 2,112 16,368 19,893 36,261 $ 25,762 $ 8,724 $ 34,486 $ 19,238 $ 53,724 Total Realignment Charges COS $ 38,582 $ 11,653 $ 50,235 $ (589) $ 49,646 SG&A 15,611 14,488 30,099 19,865 49,964 Loss on sale of business(1) — 12,981 12,981 — 12,981 Total $ 54,193 $ 39,122 $ 93,315 $ 19,276 $ 112,591 __________________________________ (1) Loss on sale of business related to NAF AB control valves business as described within Note 1, "Significant Accounting Policies and Accounting Developments," to our consolidated financial statements included in this Annual Report. The following is a summary of total inception to date charges, net of adjustments, related to the CORE Realignment Program: Inception to Date (Amounts in thousands) FPD FCD Subtotal–Reportable Segments All Other Consolidated Total Restructuring Charges COS $ — $ — $ — $ — $ — SG&A — — — — — $ — $ — $ — $ — $ — Non-Restructuring Charges COS $ 2,942 $ — $ 2,942 $ — $ 2,942 SG&A — — — — — $ 2,942 $ — $ 2,942 $ — $ 2,942 Total Realignment Charges COS $ 2,942 $ — $ 2,942 $ — $ 2,942 SG&A — — — — — Total $ 2,942 $ — $ 2,942 $ — $ 2,942 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 or impairment of fixed assets, accelerated amortization or impairment 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. Restructuring charges include charges related to approved, but not yet announced, facility closures. The following is a summary of restructuring charges, net of adjustments, for our restructuring activities related to our 2023 Realignment Programs: December 31, 2024 (Amounts in thousands) Severance Contract Termination Asset Write-Downs Other Total COS $ 7,078 $ — $ 12,861 $ 2,809 $ 22,748 SG&A 158 — 3,750 (30) 3,878 Loss on sale of business(1) — — — 12,981 12,981 Total $ 7,236 $ — $ 16,611 $ 15,760 $ 39,607 __________________________________ (1) Loss on sale of business related to NAF AB control valves business as described within Note 1, "Significant Accounting Policies and Accounting Developments," to our consolidated financial statements included in this Annual Report. December 31, 2023 (Amounts in thousands) Severance Contract Termination Asset Write-Downs Other Total COS $ 7,085 $ 301 $ 794 $ 1,253 $ 9,433 SG&A 950 — 8,871 6 9,827 Total $ 8,035 $ 301 $ 9,665 $ 1,259 $ 19,260 The following is a summary of restructuring charges, net of adjustments, for our restructuring activities related to our 2020 Realignment Program: December 31, 2022 (Amounts in thousands) Severance Contract Termination Asset Write-Downs Other Total COS $ 122 $ 327 $ 273 $ 139 $ 861 SG&A (4) — — — (4) Total $ 118 $ 327 $ 273 $ 139 $ 857 The following is a summary of total inception to date restructuring charges, net of adjustments, related to our 2023 Realignment Programs: Inception to Date (Amounts in thousands) Severance Contract Termination Asset Write-Downs Other Total COS $ 14,164 $ 301 $ 13,655 $ 4,063 $ 32,183 SG&A 1,106 — 12,621 (24) 13,703 Loss on sale of business(1) — — — 12,981 12,981 Total $ 15,270 $ 301 $ 26,276 $ 17,020 $ 58,867 __________________________________ (1) Loss on sale of business related to NAF AB control valves business as described within Note 1, "Significant Accounting Policies and Accounting Developments," to our consolidated financial statements included in this Annual Report. There are no restructuring charges related to our CORE Realignment Program.
Schedule of Restructuring Reserve by Type of Cost	The following represents the activity, primarily severance charges from reductions in workforce, related to the restructuring reserve for the 2023 Realignment Programs for the years ended December 31, 2024 and 2023: (Amounts in thousands) 2024 2023 Balance at January 1, $ 8,184 $ 965 Charges 10,129 9,594 Cash expenditures (8,050) (2,110) Other non-cash adjustments, including currency (1,963) (265) Balance at December 31, $ 8,300 $ 8,184

Significant Accounting Polici_4

Significant Accounting Policies and Accounting Developments (Details) - USD ($) $ in Thousands		3 Months Ended		4 Months Ended	12 Months Ended
	May 04, 2024	Dec. 31, 2022	Mar. 31, 2022	May 04, 2024	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Mar. 31, 2024	Dec. 31, 2021	Aug. 31, 2021
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Decrease to existing reserves								$ 2,000
Sales					$ 4,557,806	$ 4,320,577	$ 3,615,120
Cash and cash equivalents		$ 434,971			675,441	545,678	434,971		$ 658,452
Accounts receivable, net of allowance for expected credit losses of $79,059 and $80,013, respectively					976,739	881,869
Retirement obligations and other liabilities					371,055	389,120
Retained earnings					4,025,750	3,854,717
Accumulated Other Comprehensive Income (Loss), Net of Tax					$ (741,424)	(639,601)
Interest ownership for cost method accounting (percentage)					20%
Loss accrual					$ 110,300
Insurance receivables					$ 35,800
Warranty obligations sales trend period (in months)					24 months
Research and Development [Abstract]
Research and development costs					$ 69,900	48,700	39,900
Goodwill		1,168,124			1,286,295	1,182,225	1,168,124
Supplier finance obligation					$ 8,571	$ 13,527
Supplier Finance Program, Obligation, Statement of Financial Position [Extensible Enumeration]					Accounts payable	Accounts payable
Payments For Disposition Of Business					$ 2,555	$ 0	0
Loss on sale of business					$ 12,981	0	0
Remaining lease term					28 years
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Flow Control Division
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Sales				$ 3,000
Research and Development [Abstract]
Payments For Disposition Of Business	$ 2,600
Loss on sale of business	$ 13,000
Subsidiaries | Russian Subsidiary
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue from contract with customer reserve for estimated exit costs before tax		13,600	$ 20,200
Revenue from contract with customer reserve for estimated exit costs after tax		9,800	$ 21,000
Velan Inc.
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Related expenses					$ 7,300
Sales
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue from contract with customer reserve for estimated exit costs before tax					(9,330)
Cost of sales ("COS")
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue from contract with customer reserve for estimated exit costs before tax					8,860
Gross loss
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue from contract with customer reserve for estimated exit costs before tax					(18,190)
Selling, general and administrative expense ("SG&A")
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue from contract with customer reserve for estimated exit costs before tax					15,697
Operating loss
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue from contract with customer reserve for estimated exit costs before tax					(33,887)
FPD
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Sales					3,154,151	3,060,993	2,518,000
Research and Development [Abstract]
Goodwill		772,273			765,740	779,996	772,273
FCD
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Sales					1,403,655	1,259,584	1,097,120
Research and Development [Abstract]
Goodwill		$ 395,851			520,555	402,229	395,851
Operating Segments
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Sales					4,557,806	4,320,577	3,615,120
Operating Segments | FPD
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Sales					3,154,151	3,060,993	2,518,000
Operating Segments | FPD | Sales
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue from contract with customer reserve for estimated exit costs before tax					(9,330)
Operating Segments | FPD | Cost of sales ("COS")
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue from contract with customer reserve for estimated exit costs before tax					7,442
Operating Segments | FPD | Gross loss
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue from contract with customer reserve for estimated exit costs before tax					(16,772)
Operating Segments | FPD | Selling, general and administrative expense ("SG&A")
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue from contract with customer reserve for estimated exit costs before tax					13,977
Operating Segments | FPD | Operating loss
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue from contract with customer reserve for estimated exit costs before tax					(30,749)
Operating Segments | FCD
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Sales					1,403,655	$ 1,259,584	$ 1,097,120
Operating Segments | FCD | Sales
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue from contract with customer reserve for estimated exit costs before tax					0
Operating Segments | FCD | Cost of sales ("COS")
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue from contract with customer reserve for estimated exit costs before tax					1,418
Operating Segments | FCD | Gross loss
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue from contract with customer reserve for estimated exit costs before tax					(1,418)
Operating Segments | FCD | Selling, general and administrative expense ("SG&A")
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue from contract with customer reserve for estimated exit costs before tax					1,720
Operating Segments | FCD | Operating loss
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue from contract with customer reserve for estimated exit costs before tax					$ (3,138)
Minimum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Estimate of possible loss										$ 93,200
Finite-Lived Intangible Assets, Net [Abstract]
Intangible asset, useful life (in years)					1 year
Minimum | Internally developed software
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Property, plant and equipment, useful life (in years)					3 years
Minimum | Cloud Computing Arrangements
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Property, plant and equipment, useful life (in years)					3 years
Maximum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Estimate of possible loss										$ 143,700
Finite-Lived Intangible Assets, Net [Abstract]
Intangible asset, useful life (in years)					40 years
Maximum | Internally developed software
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Property, plant and equipment, useful life (in years)					7 years
Maximum | Cloud Computing Arrangements
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Property, plant and equipment, useful life (in years)					7 years

Significant Accounting Polici_5

Significant Accounting Policies and Accounting Developments (Supplier Finance Program Rollforward) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($)
Supplier Finance Program, Obligation [Roll Forward]
Obligations outstanding at the beginning of the year	$ 13,527
Invoices confirmed	61,198
Confirmed invoices settled	66,154
Obligations outstanding at the end of the year	$ 8,571

Significant Accounting Polici_6

Significant Accounting Policies and Accounting Developments (Estimated Useful Lives of Assets) (Details)	Dec. 31, 2024
Buildings and improvements | Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life (in years)	10 years
Buildings and improvements | Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life (in years)	40 years
Machinery, equipment and tooling | Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life (in years)	3 years
Machinery, equipment and tooling | Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life (in years)	14 years
Software, furniture and fixtures and other | Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life (in years)	3 years
Software, furniture and fixtures and other | Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life (in years)	7 years

Acquisition - Assets and Liabil

Acquisition - Assets and Liabilities Acquired (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Oct. 15, 2024	Dec. 31, 2023	Dec. 31, 2022
Intangible assets
Goodwill	$ 1,286,295		$ 1,182,225	$ 1,168,124
MOGAS
Business Combination Segment Allocation [Line Items]
Accounts receivable		$ 55,000
Contract assets		13,700
Inventories		45,300
Prepaid expenses and other		4,600
Indemnification asset		7,500
Total current assets		126,100
Intangible assets
Trademark		19,000
Total intangible assets		78,000
Property, plant and equipment		41,900
Right-of-use assets		1,000
Total assets		247,000
Current liabilities		(58,800)
Noncurrent liabilities		(500)
Net assets		187,700
Goodwill		127,200
Purchase price, net of cash acquired of $3.1 million		314,900
Cash acquired		3,100
MOGAS | Existing customer relationships
Intangible assets
Intangible assets		48,500
MOGAS | Backlog
Intangible assets
Intangible assets		$ 10,500

Acquisition - Narrative (Detail

Acquisition - Narrative (Details) - USD ($) $ in Thousands		3 Months Ended	12 Months Ended
	Oct. 15, 2024	Dec. 31, 2024	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Business Combination Segment Allocation [Line Items]
Goodwill		$ 1,286,295	$ 1,286,295	$ 1,182,225	$ 1,168,124
Sales			4,557,806	4,320,577	3,615,120
Earnings			282,759	$ 186,743	$ 188,689
MOGAS
Business Combination Segment Allocation [Line Items]
Cash payment for acquisition	$ 290,000
Working capital adjustments	13,000
Cash acquired	3,100
Earn out payment	15,000
Goodwill	$ 127,200
Average useful lives	8 years
Indemnification asset	$ 7,500
Sales		37,000
Earnings		$ 3,000
Related expenses			$ 10,000
MOGAS | Existing customer relationships
Business Combination Segment Allocation [Line Items]
Average useful lives	10 years
MOGAS | Backlog
Business Combination Segment Allocation [Line Items]
Average useful lives	1 year

Revenue Recognition (Details)

Revenue Recognition (Details) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($) segments	Dec. 31, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Remaining performance obligation, amount | $	$ 853
Number of operating segments (in segments) | segments	2
Transferred over Time
Disaggregation of Revenue [Line Items]
Revenue from products and services percentage	17%	16%	13%
Transferred at Point in Time
Disaggregation of Revenue [Line Items]
Revenue from products and services percentage	83%	84%	87%

Revenue Recognition (Performanc

Revenue Recognition (Performance Obligations) (Details) $ in Millions	Dec. 31, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	$ 853
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	$ 536
Remaining performance obligation, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	$ 317
Remaining performance obligation, period	1 year

Revenue Recognition (Disaggrega

Revenue Recognition (Disaggregation of Revenue) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Sales	$ 4,557,806	$ 4,320,577	$ 3,615,120
FPD
Disaggregation of Revenue [Line Items]
Sales	3,154,151	3,060,993	2,518,000
FCD
Disaggregation of Revenue [Line Items]
Sales	1,403,655	1,259,584	1,097,120
Original Equipment
Disaggregation of Revenue [Line Items]
Sales	2,218,051	2,086,696	1,706,569
Original Equipment | FPD
Disaggregation of Revenue [Line Items]
Sales	1,152,643	1,147,906	881,061
Original Equipment | FCD
Disaggregation of Revenue [Line Items]
Sales	1,065,408	938,790	825,508
Aftermarket
Disaggregation of Revenue [Line Items]
Sales	2,339,755	2,233,881	1,908,551
Aftermarket | FPD
Disaggregation of Revenue [Line Items]
Sales	2,001,508	1,913,087	1,636,939
Aftermarket | FCD
Disaggregation of Revenue [Line Items]
Sales	338,247	320,794	271,612
North America
Disaggregation of Revenue [Line Items]
Sales	1,842,374	1,820,881	1,532,860
North America | FPD
Disaggregation of Revenue [Line Items]
Sales	1,291,273	1,264,673	1,060,393
North America | FCD
Disaggregation of Revenue [Line Items]
Sales	551,101	556,208	472,467
Latin America
Disaggregation of Revenue [Line Items]
Sales	326,321	303,252	246,453
Latin America | FPD
Disaggregation of Revenue [Line Items]
Sales	296,474	273,126	222,878
Latin America | FCD
Disaggregation of Revenue [Line Items]
Sales	29,847	30,126	23,575
Middle East and Africa
Disaggregation of Revenue [Line Items]
Sales	765,839	684,589	473,165
Middle East and Africa | FPD
Disaggregation of Revenue [Line Items]
Sales	542,399	538,037	372,148
Middle East and Africa | FCD
Disaggregation of Revenue [Line Items]
Sales	223,440	146,552	101,017
Asia Pacific
Disaggregation of Revenue [Line Items]
Sales	789,611	739,513	694,559
Asia Pacific | FPD
Disaggregation of Revenue [Line Items]
Sales	425,743	436,813	389,366
Asia Pacific | FCD
Disaggregation of Revenue [Line Items]
Sales	363,868	302,700	305,193
Europe
Disaggregation of Revenue [Line Items]
Sales	833,661	772,342	668,083
Europe | FPD
Disaggregation of Revenue [Line Items]
Sales	598,262	548,344	473,215
Europe | FCD
Disaggregation of Revenue [Line Items]
Sales	$ 235,399	$ 223,998	$ 194,868

Revenue Recognition (Contract A

Revenue Recognition (Contract Assets and Liabilities) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Change In Contract With Customer, Asset And Liability [Roll Forward]
Contract assets, net	$ 280,228
Contract liabilities	287,697
Amounts transferred from contract assets to receivables	(18,513)	$ (41,149)	$ (41,768)
Contract assets, net	298,906	280,228
Contract liabilities	283,670	287,697
Contract Assets, net (Current)
Change In Contract With Customer, Asset And Liability [Roll Forward]
Contract Assets, net (Current)	280,228	233,457
Revenue recognized that was included in contract liabilities at the beginning of the period	0	0
Increase due to revenue recognized in the period in excess of billings	958,388	890,150
Increase due to billings arising during the period in excess of revenue recognized	0	0
Amounts transferred from contract assets to receivables	(920,793)	(842,780)
Currency effects and other, net, contract assets	(18,917)	(599)
Contract Assets, net (Current)	298,906	280,228	233,457
Long-term Contract Assets, net
Change In Contract With Customer, Asset And Liability [Roll Forward]
Contract assets, net	1,034	297
Revenue recognized that was included in contract liabilities at the beginning of the period	0	0
Increase due to revenue recognized in the period in excess of billings	0	932
Increase due to billings arising during the period in excess of revenue recognized	0	0
Amounts transferred from contract assets to receivables	(656)	(435)
Currency effects and other, net, contract assets	545	240
Contract assets, net	923	1,034	297
Contract Liabilities (Current)
Change In Contract With Customer, Asset And Liability [Roll Forward]
Contract liabilities	287,697	256,963
Revenue recognized that was included in contract liabilities at the beginning of the period	(217,470)	(209,560)
Increase due to revenue recognized in the period in excess of billings	0	0
Increase due to billings arising during the period in excess of revenue recognized	214,163	238,683
Amounts transferred from contract assets to receivables	0	0
Currency effects and other, net, contract liabilities	(720)	1,611
Contract liabilities	283,670	287,697	256,963
Long-term Contract Liabilities
Change In Contract With Customer, Asset And Liability [Roll Forward]
Long-term Contract Liabilities	673	1,543	$ 1,059
Revenue recognized that was included in contract liabilities at the beginning of the period	(740)	0
Increase due to revenue recognized in the period in excess of billings	0	0
Increase due to billings arising during the period in excess of revenue recognized	0	1,043
Amounts transferred from contract assets to receivables	0	0
Currency effects and other, net, contract liabilities	$ (130)	$ (559)

Allowance for Expected Credit_3

Allowance for Expected Credit Losses - Additional Information (Details)	Dec. 31, 2024
Credit Loss [Abstract]
Contract assets, allowance for credit loss as a percentage of assets	1%

Allowance for Expected Credit_4

Allowance for Expected Credit Losses - Change In Allowance for Credit Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Accounts receivable
Beginning balance	$ 80,013	$ 83,062	$ 74,336
Charges to cost and expenses, net of recoveries	11,836	5,597	12,530
Write-offs	(8,160)	(10,947)	(3,188)
Currency effects and other, net	(4,630)	2,301	(616)
Ending balance	79,059	80,013	83,062
Short-term contract assets
Beginning balance	4,993	5,819	2,393
Charges to cost and expenses, net of recoveries	305	0	2,785
Write-offs	(1,781)	(1,450)	0
Currency effects and other, net	(113)	624	641
Ending balance	3,404	4,993	5,819
Long-term receivables
Beginning balance, January 1,	66,864	66,377	67,696
Currency effects and other, net	(783)	487	(1,319)
Ending balance, December 31,	$ 66,081	$ 66,864	$ 66,377

Leases (Narrative) (Details)

Leases (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Lessee, Lease, Description [Line Items]
Lease not yet commenced, expense		$ 400	$ 4,000
Operating lease expense		66,852	63,719	$ 67,194
SG&A		978,037	961,169	815,545
Cost of sales		$ 3,123,560	$ 3,043,749	$ 2,620,825
Operating Real Estate Lease
Lessee, Lease, Description [Line Items]
Operating lease expense	$ 6,400
SG&A	5,500
Cost of sales	900
Operating Real Estate Leases With Escalating Rent Payments Portion Prior To Adoption
Lessee, Lease, Description [Line Items]
Operating lease expense	$ 5,800

Leases (Other Information) (Det

Leases (Other Information) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Finance Leases:
ROU assets recorded under finance leases	$ 32,385	$ 35,523
Accumulated depreciation associated with finance leases	(17,020)	(16,828)
Total finance leases ROU assets, net	15,365	18,695
Total finance leases liabilities	19,990	19,374
Operating Lease Costs:
Fixed lease expense	57,862	55,588	$ 59,782
Variable lease expense	8,990	8,131	7,412
Total operating lease expense	66,852	63,719	67,194
Finance Lease Costs:
Depreciation of finance lease ROU assets	6,800	6,655	5,984
Interest on lease liabilities	1,047	885	604
Total finance lease expense	$ 7,847	$ 7,540	$ 6,588
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Property, plant and equipment, net	Property, plant and equipment, net
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Less amounts due within one year	Less amounts due within one year
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Total debt due after one year	Total debt due after one year

Leases (Supplemental Cash Flows

Leases (Supplemental Cash Flows Information) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 64,976	$ 62,303	$ 57,712
Financing cash flows from finance leases	6,964	8,234	6,039
ROU assets obtained in exchange for lease obligations:
Operating leases	51,219	18,570	26,581
Finance leases	$ 8,623	$ 8,259	$ 7,906
Weighted average remaining lease term (in years)
Operating leases	7 years	8 years	8 years
Finance leases	3 years	5 years	6 years
Weighted average discount rate (percent)
Operating leases	5.20%	4.10%	4%
Finance leases	5.60%	4.60%	3.90%

Leases (Future Lease Payments)

Leases (Future Lease Payments) (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Operating Leases
2025	$ 41,712
2026	35,243
2027	30,024
2028	25,553
2029	20,703
Thereafter	66,382
Total future minimum lease payments	219,617
Less: Imputed interest	(36,220)
Total operating leases liabilities	183,397
Liabilities recorded under operating leases (current)	33,559	$ 32,382
Operating lease liabilities	149,838	138,665
Finance Leases
2025	7,430
2026	5,692
2027	3,442
2028	1,703
2029	781
Thereafter	3,565
Total future minimum lease payments	22,613
Less: Imputed interest	(2,623)
Total	19,990	$ 19,374
Debt due within one year	6,505
Long-term debt due after one year	$ 13,485

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets (Changes in Carrying Amount of Goodwill) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Goodwill [Roll Forward]
Beginning balance	$ 1,182,225	$ 1,168,124
Currency translation and other	(23,179)	14,101
Acquisition	127,249
Ending balance	1,286,295	1,182,225
FPD
Goodwill [Roll Forward]
Beginning balance	779,996	772,273
Currency translation and other	(14,256)	7,723
Acquisition	0
Ending balance	765,740	779,996
FCD
Goodwill [Roll Forward]
Beginning balance	402,229	395,851
Currency translation and other	(8,923)	6,378
Acquisition	127,249
Ending balance	$ 520,555	$ 402,229

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets (Changes in Intangible Assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2012
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, Ending Gross Amount	$ 344,010	$ 291,443
Finite-lived intangible assets, Accumulated Amortization	(252,454)	(249,318)
Indefinite-lived intangible assets, Ending Gross Amount	98,721	81,824
Indefinite-lived intangible assets, Accumulated Amortization	$ (1,673)	(1,701)
Minimum
Finite-Lived Intangible Assets [Line Items]
Useful Life (Years)	1 year
Maximum
Finite-Lived Intangible Assets [Line Items]
Useful Life (Years)	40 years
Engineering drawings
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, Ending Gross Amount	$ 89,529	92,105
Finite-lived intangible assets, Accumulated Amortization	$ (89,529)	(91,808)
Engineering drawings | Minimum
Finite-Lived Intangible Assets [Line Items]
Useful Life (Years)	10 years
Engineering drawings | Maximum
Finite-Lived Intangible Assets [Line Items]
Useful Life (Years)	22 years
Existing customer relationships
Finite-Lived Intangible Assets [Line Items]
Useful Life (Years)			5 years
Finite-lived intangible assets, Ending Gross Amount	$ 126,761	80,643
Finite-lived intangible assets, Accumulated Amortization	$ (79,039)	(76,121)
Existing customer relationships | Minimum
Finite-Lived Intangible Assets [Line Items]
Useful Life (Years)	5 years
Existing customer relationships | Minimum | MOGAS
Finite-Lived Intangible Assets [Line Items]
Useful Life (Years)	5 years
Existing customer relationships | Maximum
Finite-Lived Intangible Assets [Line Items]
Useful Life (Years)	10 years
Existing customer relationships | Maximum | MOGAS
Finite-Lived Intangible Assets [Line Items]
Useful Life (Years)	10 years
Patents
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, Ending Gross Amount	$ 25,086	26,388
Finite-lived intangible assets, Accumulated Amortization	$ (25,086)	(26,388)
Patents | Minimum
Finite-Lived Intangible Assets [Line Items]
Useful Life (Years)	9 years
Patents | Maximum
Finite-Lived Intangible Assets [Line Items]
Useful Life (Years)	16 years
Other
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, Ending Gross Amount	$ 102,634	92,307
Finite-lived intangible assets, Accumulated Amortization	$ (58,800)	$ (55,001)
Other | Minimum
Finite-Lived Intangible Assets [Line Items]
Useful Life (Years)	1 year
Other | Maximum
Finite-Lived Intangible Assets [Line Items]
Useful Life (Years)	40 years

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets (Actual and Estimated Future Amortization) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Actual for year ended December 31, 2024	$ 10,023	$ 11,300	$ 11,400
Estimated for year ended December 31, 2025	15,476
Estimated for year ended December 31, 2026	7,069
Estimated for year ended December 31, 2027	7,069
Estimated for year ended December 31, 2028	7,069
Estimated for year ended December 31, 2029	6,952
Thereafter	$ 47,921

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Inventory, Net [Abstract]
Raw materials	$ 391,562	$ 407,979
Work in process	262,173	302,655
Finished goods	275,975	278,787
Less: Excess and obsolete reserve	(92,456)	(109,484)
Inventories	837,254	879,937
Inventory Write-down	$ 14,100	$ 21,500	$ 15,400

Stock-Based Compensation Plan_2

Stock-Based Compensation Plans (Disclosures by Compensation Plans) (Details) - shares	12 Months Ended
	Dec. 31, 2024	Jan. 01, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock available under stock option plan	7,075,917
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
General vesting period (years)	3 years
Age requirement	55 years
Time in service requirement to vest over original vesting period	10 years
2020 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized to issue under share based compensation plans		12,500,000

Stock-Based Compensation Plan_3

Stock-Based Compensation Plans (Information Regarding Stock Options) (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding (in shares)	114,943
Exercisable (in shares)	114,943	0	0
Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Vested In Period, Grant Date Fair Value	$ 2
Outstanding  (in dollars per share)		$ 48.63
Granted (in shares)	0	0	0
Canceled (in shares)	0	0	0
Vested (in shares)	0	0	0
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
General vesting period (years)	3 years
General expiration period, from date of grant or time of termination (years)	10 years
Recognition of unearned compensation, (years)	3 years
Weighted Average Remaining Contractual Life	2 years 3 months 18 days	3 years 3 months 18 days	4 years 3 months 18 days

Stock-Based Compensation Plan_4

Stock-Based Compensation Plans (Information Regarding Restricted Shares) (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
General vesting period (years)	3 years
Unearned compensation costs	$ 19.2	$ 18.5
Recognition of unearned compensation, (years)	1 year
Fair value of Restricted Shares vested	$ 28.7	24.2	$ 23.5
Stock-based compensation expense	30.5	27.8	25.5
Related income tax benefit	(6.9)	(6.3)	(5.8)
Net stock-based compensation expense	$ 23.6	$ 21.5	$ 19.7
Shares
Outstanding — beginning of year (in shares)	1,741,486
Granted (in shares)	823,703
Vested (in shares)	(787,870)
Canceled (in shares)	(110,636)
Outstanding — ending of year (in shares)	1,666,683	1,741,486
Weighted Average Grant-Date Fair Value
Outstanding — beginning of year (in dollars per share)	$ 36.06
Granted (in dollars per share)	42.73
Vested (in dollars per share)	36.40
Canceled (in dollars per share)	36.30
Outstanding — ending of year (in dollars per share)	$ 39.18	$ 36.06
Restricted Stock | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
General expiration period, from date of grant or time of termination (years)	1 year
General vesting period (years)	1 year
Restricted Stock | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
General expiration period, from date of grant or time of termination (years)	3 years
General vesting period (years)	3 years
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
General vesting period (years)	36 months
Shares
Outstanding — ending of year (in shares)	520,000
Weighted Average Grant-Date Fair Value
Estimated vesting of shares based on performance shares	520,000
Performance Shares | Minimum
Weighted Average Grant-Date Fair Value
Estimated vesting of shares based on performance shares	0
Performance Shares | Maximum
Weighted Average Grant-Date Fair Value
Estimated vesting of shares based on performance shares	1,196,000

Derivatives and Hedging Activ_3

Derivatives and Hedging Activities (Details Textual) $ in Thousands, € in Millions		12 Months Ended
	Dec. 22, 2022 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 22, 2022 EUR (€)
Derivative [Line Items]
Derivative, notional amount | €					€ 423.2
Noncurrent derivative assets	$ 68,200
Proceeds from termination of cross-currency swap	$ 66,000	$ 0	$ 0	$ (66,004)
Foreign Exchange Forward
Derivative [Line Items]
Derivative, lower remaining maturity range		7 days
Derivative, upper remaining maturity range		19 months
Currency Swap
Derivative [Line Items]
Derivative, interest accrual				$ (8,500)
Not Designated as a Hedging Instrument | Foreign Exchange Forward
Derivative [Line Items]
Derivative, notional amount		$ 695,900	$ 656,600

Derivatives and Hedging Activ_4

Derivatives and Hedging Activities (Fair Value Balance Sheet Disclosures) (Details) - USD ($) $ in Thousands	Dec. 22, 2022	Dec. 31, 2024	Dec. 31, 2023
Fair value disclosues, by balance sheet location
Noncurrent derivative assets	$ 68,200
Derivative Asset Noncurrent Statement Of Financial Position Extensible Enumeration Not Disclosed Flag	Noncurrent derivative assets
Not Designated as a Hedging Instrument | Forward Exchange Contracts
Fair value disclosues, by balance sheet location
Current derivative assets		$ 4,633	$ 1,915
Noncurrent derivative assets		13	17
Current derivative liabilities		4,926	3,855
Noncurrent derivative liabilities		$ 374	$ 5

Derivatives and Hedging Activ_5

Derivatives and Hedging Activities (Fair Value of Forward Exchange Contracts Not Designated as Hedging Instruments) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Not Designated as a Hedging Instrument | Forward Exchange Contracts
Derivative [Line Items]
Gains (losses) recognized in income	$ 9,823	$ (12,914)	$ (6,173)

Derivatives and Hedging Activ_6

Derivatives and Hedging Activities (Cross Currency Swap) (Details) - Currency Swap - Net Investment Hedging - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Derivative [Line Items]
Gains (losses) recognized in income	$ 0	$ 0	$ (37,135)
(Gain) loss-excluded component	0	0	11,875
Gain (Loss) on Derivative Used in Net Investment Hedge, after Tax	$ 0	$ 0	$ 49,010

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Details) $ in Millions	Dec. 31, 2024 USD ($)
Estimated fair value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior Notes	$ 879.4
Carrying value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior Notes	$ 991.5

Details of Certain Consolidat_3

Details of Certain Consolidated Balance Sheet Captions (Accounts Receivable, net) (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Details of Certain Consolidated Balance Sheet Captions [Abstract]
Trade accounts receivables	$ 1,026,891	$ 935,297
Less: allowance for expected credit losses	(70,369)	(67,487)
Other short-term receivables	28,907	26,585
Less: allowance for expected credit losses	(8,690)	(12,526)
Accounts receivable, net	$ 976,739	$ 881,869

Details of Certain Consolidat_4

Details of Certain Consolidated Balance Sheet Captions (Property, Plant and Equipment, net) (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	$ 1,682,370	$ 1,664,609
Less: accumulated depreciation	(1,142,667)	(1,158,451)
Property, plant and equipment, net	539,703	506,158
Land
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	61,351	60,312
Buildings and improvements
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	450,718	427,332
Machinery, equipment and tooling
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	803,355	781,771
Software, furniture and fixtures and other
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	$ 366,946	$ 395,194

Details of Certain Consolidat_5

Details of Certain Consolidated Balance Sheet Captions (Accrued Liabilities) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Details of Certain Consolidated Balance Sheet Captions [Abstract]
Wages, compensation and other benefits	$ 260,481	$ 264,914
Commissions and royalties	31,344	20,570
Warranty costs and late delivery penalties	31,290	26,521
Sales and use tax	29,247	25,880
Income tax	28,003	24,643
Other	181,121	141,902
Accrued liabilities	$ 561,486	$ 504,430
Other accrued liabilities maximum percentage of current liabilities	5%

Details of Certain Consolidat_6

Details of Certain Consolidated Balance Sheet Captions (Retirement Obligations and Other Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Details of Certain Consolidated Balance Sheet Captions [Abstract]
Pension and postretirement benefits	$ 195,436	$ 202,583
Deferred taxes	1,775	1,335
Operating lease liabilities	149,838	138,665
Legal and environmental	99,984	93,989
Uncertain tax positions and other tax liabilities	40,172	51,584
Other	33,688	39,629
Retirement obligations and other liabilities	$ 371,055	$ 389,120

Equity Method Investments (Deta

Equity Method Investments (Details)	Dec. 31, 2024 ventures
Schedule of Equity Method Investments [Line Items]
Number of joint ventures	5
Chile
Schedule of Equity Method Investments [Line Items]
Number of joint ventures	1
China
Schedule of Equity Method Investments [Line Items]
Number of joint ventures	1
India
Schedule of Equity Method Investments [Line Items]
Number of joint ventures	1
Saudi Arabia
Schedule of Equity Method Investments [Line Items]
Number of joint ventures	1
South Korea
Schedule of Equity Method Investments [Line Items]
Number of joint ventures	1
United Arab Emirates
Schedule of Equity Method Investments [Line Items]
Number of joint ventures	1

Debt and Finance Lease Obliga_3

Debt and Finance Lease Obligations (Debt Including Finance Lease Obligations) (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Long-term debt	$ 1,504,191
Finance lease obligations and other borrowings	23,026	$ 23,467
Debt and finance lease obligations	1,504,191	1,233,550
Less amounts due within one year	44,059	66,243
Total debt due after one year	$ 1,460,132	$ 1,167,307
2030 USD Senior notes
Debt Instrument [Line Items]
Interest rate (as a percentage)	3.50%	3.50%
Unamortized discount and debt issuance costs	$ 3,882
Long-term debt	$ 496,118	$ 495,521
2032 USD Senior notes
Debt Instrument [Line Items]
Interest rate (as a percentage)	2.80%
Unamortized discount and debt issuance costs	$ 4,585	5,164
Long-term debt	$ 495,415	$ 494,836
Term Loan
Debt Instrument [Line Items]
Interest rate (as a percentage)	5.80%	6.70%
Unamortized discount and debt issuance costs		$ 4,479
Debt issuance costs	$ 993	274
Long-term debt	$ 489,632	$ 219,726

Debt and Finance Lease Obliga_4

Debt and Finance Lease Obligations (Maturities of Debt by Type) (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
2025	$ 43,802
2026	56,856
2027	56,038
2028	74,822
2029	281,141
Thereafter	991,532
Total	1,504,191
Term Loan
Debt Instrument [Line Items]
2025	37,243
2026	40,388
2027	56,038
2028	74,822
2029	281,141
Thereafter	0
Total	489,632	$ 219,726
Senior Notes and other debt
Debt Instrument [Line Items]
2025	6,559
2026	16,468
2027	0
2028	0
2029	0
Thereafter	991,532
Total	$ 1,014,559

Debt and Finance Lease Obliga_5

Debt and Finance Lease Obligations (Senior Notes) (Details)	Dec. 31, 2024	Dec. 31, 2023
2032 USD Senior notes
Debt Instrument [Line Items]
Interest rate (as a percentage)	2.80%
2030 USD Senior notes
Debt Instrument [Line Items]
Interest rate (as a percentage)	3.50%	3.50%

Debt and Finance Lease Obliga_6

Debt and Finance Lease Obligations (Senior Credit Facility) (Details) - USD ($)		3 Months Ended				12 Months Ended
	Sep. 13, 2021	Dec. 31, 2025	Sep. 30, 2025	Jun. 30, 2025	Mar. 31, 2025	Dec. 31, 2024	Oct. 10, 2024	Dec. 31, 2023	Feb. 03, 2023
Term Loan
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 300,000,000						$ 500,000,000
Term Loan | Forecast | Subsequent Event
Line of Credit Facility [Line Items]
Debt instrument, periodic payment		$ 9,400,000	$ 9,400,000	$ 9,400,000	$ 9,400,000
Revolving Credit Facility
Line of Credit Facility [Line Items]
Amount outstanding						$ 0		$ 0
Current borrowing capacity						656,000,000		672,900,000
Senior Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity	250,000,000								$ 200,000,000
Letters of credit, amount outstanding						$ 144,000,000		$ 127,100,000
Revolving Credit Facility | New Senior Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity	800,000,000						$ 400,000,000
Commitment fee percentage						0.175%
Letter of Credit | New Senior Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity	750,000,000
Bridge Loan | New Senior Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 30,000,000
Secured Overnight Financing Rate (SOFR) | Term Loan
Line of Credit Facility [Line Items]
Basis spread on variable rate						1.375%
Secured Overnight Financing Rate (SOFR) | Revolving Credit Facility | New Senior Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate						1.375%
Base Rate | Term Loan
Line of Credit Facility [Line Items]
Basis spread on variable rate						0.25%
Base Rate | Revolving Credit Facility | New Senior Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate						0.375%
Minimum | Revolving Credit Facility | New Senior Credit Facility
Line of Credit Facility [Line Items]
Unused capacity, commitment fee percentage	0.08%
Minimum | Secured Overnight Financing Rate (SOFR) | Revolving Credit Facility | New Senior Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate	1%
Minimum | Base Rate | Revolving Credit Facility | New Senior Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate	0%
Maximum | Revolving Credit Facility | New Senior Credit Facility
Line of Credit Facility [Line Items]
Unused capacity, commitment fee percentage	0.25%
Maximum | Secured Overnight Financing Rate (SOFR) | Revolving Credit Facility | New Senior Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.75%
Maximum | Base Rate | Revolving Credit Facility | New Senior Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.75%

Pension and Postretirement Be_3

Pension and Postretirement Benefits (Assumptions) (Details)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Postretirement Medical Benefits
Weighted average assumptions used to determine Benefit Obligations:
Discount rate	5.78%	5.57%	5.83%
Weighted average assumptions used to determine net pension expense:
Discount rate	5.57%	5.83%	2.83%
United States | Pension Plan
Weighted average assumptions used to determine Benefit Obligations:
Discount rate	5.73%	5.41%	5.73%
Rate of increase in compensation levels	4%	4%	3.50%
Weighted average assumptions used to determine net pension expense:
Long-term rate of return on assets	6%	6%	5.75%
Discount rate	5.41%	5.73%	3%
Rate of increase in compensation levels	4%	3.50%	3.50%
Weighted-average interest crediting rates	4%	4%	3.79%
Foreign Plan
Weighted average assumptions used to determine Benefit Obligations:
Discount rate			4.46%
Rate of increase in compensation levels	3.51%	3.24%	3.61%
Weighted average assumptions used to determine net pension expense:
Long-term rate of return on assets			2.43%
Discount rate	4.22%	4.46%	1.71%
Rate of increase in compensation levels	3.24%	3.62%	3.18%
Weighted-average interest crediting rates	2.06%	2.29%	1.49%
Foreign Plan | Pension Plan
Weighted average assumptions used to determine Benefit Obligations:
Discount rate	4.71%	4.22%
Weighted average assumptions used to determine net pension expense:
Long-term rate of return on assets	4.65%	3.97%

Pension and Postretirement Be_4

Pension and Postretirement Benefits (Details Textual) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) plan	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Jan. 31, 2025 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Defined contribution plan expense	$ 29,800	$ 23,600	$ 21,900
Accrued Liabilities, Current	$ 561,486	$ 504,430
Postretirement Medical Benefits
Defined Benefit Plan Disclosure [Line Items]
Discount rate	5.78%	5.57%	5.83%
Company contributions	$ 1,100	$ 1,600	$ 2,400
Assumed rate of increase in medical costs	7%	7%	7.25%
Minimum medical cost rate to be acheived	5%
United States | Subsequent Event
Defined Benefit Plan Disclosure [Line Items]
Accrued Liabilities, Current				$ 5,000
United States | Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Discount rate	5.73%	5.41%	5.73%
Long-term rate of return on assets	6%	6%	5.75%
Company contributions	$ 20,740	$ 3,143
United States | Fixed Income | Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Plan assets, target allocation (as a percent)	57%	65%
Plan assets, actual allocation (as a percent)	56%	62%
United States | Defined Benefit Plan, Plan Assets | Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Plan assets, target allocation (as a percent)	42%
United States | Defined Benefit Plan, Fixed Income Securities | Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Plan assets, target allocation (as a percent)	57%
Foreign Plan
Defined Benefit Plan Disclosure [Line Items]
Discount rate			4.46%
Long-term rate of return on assets			2.43%
Foreign Plan | Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Discount rate	4.71%	4.22%
Long-term rate of return on assets	4.65%	3.97%
Company contributions	$ 10,733	$ 10,221
Estimated contributions in the next year	$ 2,000
Number of plans Non-US Assets | plan	2
Foreign Plan | Fixed Income | Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Plan assets, target allocation (as a percent)	47%	51%
Plan assets, actual allocation (as a percent)	47%	51%
Foreign Plan | U.K. , the Netherlands and Canadian Plan Assets | Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Plan assets, actual allocation (as a percent)	87%

Pension and Postretirement Be_5

Pension and Postretirement Benefits (Net Benefit Costs) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Postretirement Medical Benefits
Components of the net periodic cost for retirement and postretirement benefits
Interest cost	$ 678	$ 761	$ 464
Amortization of unrecognized net (gain) loss	69	53	192
U.S. net pension expense	869	936	778
United States | Pension Plan
Components of the net periodic cost for retirement and postretirement benefits
Service cost	23,935	21,341	24,680
Interest cost	20,759	20,480	13,157
Expected return on plan assets	(23,235)	(23,931)	(25,345)
Settlement (gain) loss and other	0	15	0
Amortization of unrecognized prior service cost	194	185	175
Amortization of unrecognized net (gain) loss	0	(13)	3,461
U.S. net pension expense	21,653	18,077	16,128
Foreign Plan | Pension Plan
Components of the net periodic cost for retirement and postretirement benefits
Service cost	6,381	4,611	5,984
Interest cost	12,401	11,897	6,506
Expected return on plan assets	(7,740)	(6,659)	(5,883)
Settlement (gain) loss and other	(63)	(23)	(75)
Amortization of unrecognized net (gain) loss	2,561	1,270	2,729
U.S. net pension expense	$ 13,836	$ 11,396	$ 9,554

Pension and Postretirement Be_6

Pension and Postretirement Benefits (Funded Status) (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Postretirement Medical Benefits
Funded status of plan:
Benefit Obligation	$ (11,761)	$ (12,417)	$ (13,353)
Funded status	(11,761)	(12,417)
United States | Pension Plan
Funded status of plan:
Plan assets, at fair value	352,517	361,174	365,044
Benefit Obligation	(415,236)	(417,648)	(382,959)
Funded status	(62,719)	(56,474)
Foreign Plan | Pension Plan
Funded status of plan:
Plan assets, at fair value	167,508	179,450	172,276
Benefit Obligation	(285,498)	(297,600)	$ (268,364)
Funded status	$ (117,990)	$ (118,150)

Pension and Postretirement Be_7

Pension and Postretirement Benefits (Amounts Recognized in Balance Sheet) (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position [Abstract]
Noncurrent liabilities	$ (195,436)	$ (202,583)
Postretirement Medical Benefits
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position [Abstract]
Current liabilities	(1,985)	(2,037)
Noncurrent liabilities	(9,776)	(10,380)
Funded status	(11,761)	(12,417)
United States | Pension Plan
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position [Abstract]
Current liabilities	(154)	(169)
Noncurrent liabilities	(62,565)	(56,305)
Funded status	(62,719)	(56,474)
Foreign Plan | Pension Plan
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position [Abstract]
Noncurrent assets	12,211	9,563
Current liabilities	(9,282)	(7,682)
Noncurrent liabilities	(120,919)	(120,031)
Funded status	$ (117,990)	$ (118,150)

Pension and Postretirement Be_8

Pension and Postretirement Benefits (Change in Benefit Obligation) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Postretirement Medical Benefits
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Balance — January 1	$ 12,417	$ 13,353
Interest cost	678	761	$ 464
Employee contributions	303	379
Medicare subsidies receivable	55	60
Actuarial loss (gain)	(239)	(49)
Benefits paid	(1,453)	(2,087)
Balance — December 31	11,761	12,417	13,353
United States | Pension Plan
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Balance — January 1	417,648	382,959
Service cost	23,935	21,341	24,680
Interest cost	20,759	20,480	13,157
Plan amendments and settlements	0	(3,103)
Actuarial loss (gain)	(6,588)	31,912
Benefits paid	(40,518)	(35,941)
Balance — December 31	415,236	417,648	382,959
Accumulated benefit obligations	415,236	417,648
Settlements	0	395
Foreign Plan | Pension Plan
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Balance — January 1	297,600	268,364
Service cost	6,381	4,611	5,984
Interest cost	12,401	11,897	6,506
Employee contributions	80	80
Settlements and other(3)	13,051	(982)
Actuarial loss (gain)	(13,012)	17,082
Benefits paid	(17,393)	(15,181)
Currency translation impact	(13,610)	11,729
Balance — December 31	285,498	297,600	$ 268,364
Accumulated benefit obligations	264,367	$ 279,760
Settlements	600
Foreign Plan | Pension Plan | Middle East Pension Plan
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Settlements and other(3)	$ 13,600

Pension and Postretirement Be_9

Pension and Postretirement Benefits (Expected Benefit Payments) (Details) $ in Millions	Dec. 31, 2024 USD ($)
Postretirement Medical Benefits
Defined Benefit Plan Disclosure [Line Items]
2025	$ 2
2026	1.8
2027	1.6
2028	1.5
2029	1.3
2030-2034	4.5
United States | Pension Plan
Defined Benefit Plan Disclosure [Line Items]
2025	43.1
2026	40.2
2027	38.3
2028	35.3
2029	33.5
2030-2034	150.6
Foreign Plan | Pension Plan
Defined Benefit Plan Disclosure [Line Items]
2025	29.2
2026	18.3
2027	18.1
2028	19.8
2029	20.1
2030-2034	$ 102.7

Pension and Postretirement B_10

Pension and Postretirement Benefits (Change in Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Postretirement Medical Benefits
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax [Abstract]
Balance — January 1	$ (325)	$ (496)
Amortization of net (gain) loss	52	41
Net loss arising during the year	183	37
Amortization of prior service cost	(94)	(93)
Prior service cost arising during the year	122	122	$ 122
Balance — December 31	4	(325)	(496)
United States | Pension Plan
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax [Abstract]
Balance — January 1	(62,602)	(44,455)
Amortization of net (gain) loss	0	(10)
Net loss arising during the year	(4,143)	(20,362)
Settlement loss and other	0	2,140
Amortization of prior service cost	(148)	(141)
Prior service cost arising during the year	0	56
Balance — December 31	(66,597)	(62,602)	(44,455)
Foreign Plan | Pension Plan
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax [Abstract]
Balance — January 1	(59,968)	(42,421)
Amortization of net (gain) loss	2,662	1,631
Net loss arising during the year	5,107	(16,039)
Settlement (gains) losses	61	23
Currency translation impact and other	1,935	(3,126)
Prior service cost arising during the year	296	300	293
Prior service gain (cost) arising during the year	0	(10)
Balance — December 31	$ (50,325)	$ (59,968)	$ (42,421)

Pension and Postretirement B_11

Pension and Postretirement Benefits (Amounts Recognized in Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Postretirement Medical Benefits
Defined Benefit Plan Disclosure [Line Items]
Unrecognized net gain (loss)	$ (259)	$ 130
Unrecognized prior service cost	263	(455)
Accumulated other comprehensive loss, net of tax	4	(325)	$ (496)
United States | Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Unrecognized net gain (loss)	(66,024)	(61,904)
Unrecognized prior service cost	(573)	(698)
Accumulated other comprehensive loss, net of tax	(66,597)	(62,602)	(44,455)
Foreign Plan | Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Unrecognized net gain (loss)	(47,404)	(56,698)
Unrecognized prior service cost	(2,921)	(3,270)
Accumulated other comprehensive loss, net of tax	$ (50,325)	$ (59,968)	$ (42,421)

Pension and Postretirement B_12

Pension and Postretirement Benefits (Plan Assets) (Details) - Pension Plan - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
United States
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	$ 361,174	$ 365,044
Return (Loss) on plan assets	11,121	29,323
Company contributions	20,740	3,143
Benefits paid	(40,518)	(35,941)
Defined Benefit Plan, Benefit Obligation, (Increase) Decrease for Settlement	0	(395)
Ending balance	352,517	361,174
Fair Value	352,517	361,174
United States | Hierarchial Level 1
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	5,798
Ending balance	3,497	5,798
Fair Value	3,497	5,798
United States | Hierarchial Level 2
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	355,376
Ending balance	349,020	355,376
Fair Value	349,020	355,376
United States | Hierarchial Level 3
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	0
Ending balance	0	0
Fair Value	0	0
United States | Cash and Cash Equivalents
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	5,798
Ending balance	3,497	5,798
Fair Value	3,497	5,798
United States | Cash and Cash Equivalents | Hierarchial Level 1
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	5,798
Ending balance	3,497	5,798
Fair Value	3,497	5,798
United States | Cash and Cash Equivalents | Hierarchial Level 2
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	0
Ending balance	0	0
Fair Value	0	0
United States | Cash and Cash Equivalents | Hierarchial Level 3
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	0
Ending balance	0	0
Fair Value	0	0
United States | Global Equity
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	76,217
Ending balance	85,158	76,217
Fair Value	85,158	76,217
United States | Global Equity | Hierarchial Level 1
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	0
Ending balance	0	0
Fair Value	0	0
United States | Global Equity | Hierarchial Level 2
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	76,217
Ending balance	85,158	76,217
Fair Value	85,158	76,217
United States | Global Equity | Hierarchial Level 3
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	0
Ending balance	0	0
Fair Value	0	0
United States | Global Real Assets
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	54,025
Ending balance	68,263	54,025
Fair Value	68,263	54,025
United States | Global Real Assets | Hierarchial Level 1
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	0
Ending balance	0	0
Fair Value	0	0
United States | Global Real Assets | Hierarchial Level 2
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	54,025
Ending balance	68,263	54,025
Fair Value	68,263	54,025
United States | Global Real Assets | Hierarchial Level 3
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	0
Ending balance	0	0
Fair Value	0	0
United States | Diversified Credit
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	54,756
Ending balance	63,873	54,756
Fair Value	63,873	54,756
United States | Diversified Credit | Hierarchial Level 1
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	0
Ending balance	0	0
Fair Value	0	0
United States | Diversified Credit | Hierarchial Level 2
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	54,756
Ending balance	63,873	54,756
Fair Value	63,873	54,756
United States | Diversified Credit | Hierarchial Level 3
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	0
Ending balance	0	0
Fair Value	0	0
United States | Liability Driven Investment
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	170,378
Ending balance	131,726	170,378
Fair Value	131,726	170,378
United States | Liability Driven Investment | Hierarchial Level 1
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	0
Ending balance	0	0
Fair Value	0	0
United States | Liability Driven Investment | Hierarchial Level 2
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	170,378
Ending balance	131,726	170,378
Fair Value	131,726	170,378
United States | Liability Driven Investment | Hierarchial Level 3
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	0
Ending balance	0	0
Fair Value	0	0
Foreign Plan
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	179,450	172,276
Return (Loss) on plan assets	1,372	4,444
Company contributions	10,733	10,221
Benefits paid	(17,393)	(15,181)
Defined Benefit Plan, Benefit Obligation, (Increase) Decrease for Settlement	(600)
Employee contributions	80	80
Settlements	(581)	(967)
Currency translation impact	(6,153)	8,577
Ending balance	167,508	179,450
Fair Value	167,508	179,450
Foreign Plan | Hierarchial Level 1
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	706
Ending balance	2,454	706
Fair Value	2,454	706
Foreign Plan | Hierarchial Level 2
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	126,132
Ending balance	113,332	126,132
Fair Value	113,332	126,132
Foreign Plan | Hierarchial Level 3
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	52,612
Ending balance	51,722	52,612
Fair Value	51,722	52,612
Foreign Plan | Cash and Cash Equivalents
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	706
Ending balance	2,454	706
Fair Value	2,454	706
Foreign Plan | Cash and Cash Equivalents | Hierarchial Level 1
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	706
Ending balance	2,454	706
Fair Value	2,454	706
Foreign Plan | Cash and Cash Equivalents | Hierarchial Level 2
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	0
Ending balance	0	0
Fair Value	0	0
Foreign Plan | Cash and Cash Equivalents | Hierarchial Level 3
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	0
Ending balance	0	0
Fair Value	0	0
Foreign Plan | U.K. Government Gilt Index
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	69,566
Ending balance	54,208	69,566
Fair Value	54,208	69,566
Foreign Plan | U.K. Government Gilt Index | Hierarchial Level 1
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	0
Ending balance	0	0
Fair Value	0	0
Foreign Plan | U.K. Government Gilt Index | Hierarchial Level 2
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	69,566
Ending balance	54,208	69,566
Fair Value	54,208	69,566
Foreign Plan | U.K. Government Gilt Index | Hierarchial Level 3
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	0
Ending balance	0	0
Fair Value	0	0
Foreign Plan | Liability Driven Investment
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	21,873
Ending balance	23,778	21,873
Fair Value	23,778	21,873
Foreign Plan | Liability Driven Investment | Hierarchial Level 1
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	0
Ending balance	0	0
Fair Value	0	0
Foreign Plan | Liability Driven Investment | Hierarchial Level 2
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	21,873
Ending balance	23,778	21,873
Fair Value	23,778	21,873
Foreign Plan | Liability Driven Investment | Hierarchial Level 3
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	0
Ending balance	0	0
Fair Value	0	0
Foreign Plan | Multi-Asset Category
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	34,693
Ending balance	35,346	34,693
Fair Value	35,346	34,693
Foreign Plan | Multi-Asset Category | Hierarchial Level 1
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	0
Ending balance	0	0
Fair Value	0	0
Foreign Plan | Multi-Asset Category | Hierarchial Level 2
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	34,693
Ending balance	35,346	34,693
Fair Value	35,346	34,693
Foreign Plan | Multi-Asset Category | Hierarchial Level 3
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	0
Ending balance	0	0
Fair Value	0	0
Foreign Plan | Buy-in Contracts
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	31,692
Ending balance	30,647	31,692
Fair Value	30,647	31,692
Foreign Plan | Buy-in Contracts | Hierarchial Level 1
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	0
Ending balance	0	0
Fair Value	0	0
Foreign Plan | Buy-in Contracts | Hierarchial Level 2
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	0
Ending balance	0	0
Fair Value	0	0
Foreign Plan | Buy-in Contracts | Hierarchial Level 3
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Ending balance	30,647
Fair Value	30,647
Foreign Plan | Other types
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	20,920
Ending balance	21,075	20,920
Fair Value	21,075	20,920
Foreign Plan | Other types | Hierarchial Level 1
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	0
Ending balance	0	0
Fair Value	0	0
Foreign Plan | Other types | Hierarchial Level 2
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	0
Ending balance	0	0
Fair Value	0	0
Foreign Plan | Other types | Hierarchial Level 3
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	20,920
Ending balance	21,075	20,920
Fair Value	21,075	20,920
Netherlands | Buy-in Contracts
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	16,900
Ending balance	15,200	16,900
Fair Value	15,200	16,900
United Kingdom | Buy-in Contracts
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	14,800
Ending balance	15,400	14,800
Fair Value	$ 15,400	$ 14,800

Pension and Postretirement B_13

Pension and Postretirement Benefits (Plan Assets by Percentage Allocation) (Details) - Pension Plan	Dec. 31, 2024	Dec. 31, 2023
United States | Cash and Cash Equivalents
Defined Benefit Plan Disclosure [Line Items]
Plan assets, target allocation (as a percent)	1%	1%
Plan assets, actual allocation (as a percent)	1%	2%
United States | Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Plan assets, target allocation (as a percent)	42%	34%
Plan assets, actual allocation (as a percent)	43%	36%
United States | Global Equity
Defined Benefit Plan Disclosure [Line Items]
Plan assets, target allocation (as a percent)	24%	20%
Plan assets, actual allocation (as a percent)	24%	21%
United States | Global Real Assets
Defined Benefit Plan Disclosure [Line Items]
Plan assets, target allocation (as a percent)	18%	14%
Plan assets, actual allocation (as a percent)	19%	15%
United States | Fixed Income
Defined Benefit Plan Disclosure [Line Items]
Plan assets, target allocation (as a percent)	57%	65%
Plan assets, actual allocation (as a percent)	56%	62%
United States | Diversified Credit
Defined Benefit Plan Disclosure [Line Items]
Plan assets, target allocation (as a percent)	18%	14%
Plan assets, actual allocation (as a percent)	18%	15%
United States | Liability Driven Investment
Defined Benefit Plan Disclosure [Line Items]
Plan assets, target allocation (as a percent)	39%	51%
Plan assets, actual allocation (as a percent)	38%	47%
Foreign Plan | Cash and Cash Equivalents
Defined Benefit Plan Disclosure [Line Items]
Plan assets, target allocation (as a percent)	1%	0%
Plan assets, actual allocation (as a percent)	1%	0%
Foreign Plan | Fixed Income
Defined Benefit Plan Disclosure [Line Items]
Plan assets, target allocation (as a percent)	47%	51%
Plan assets, actual allocation (as a percent)	47%	51%
Foreign Plan | Liability Driven Investment
Defined Benefit Plan Disclosure [Line Items]
Plan assets, target allocation (as a percent)	15%	12%
Plan assets, actual allocation (as a percent)	15%	12%
Foreign Plan | U.K. Government Gilt Index
Defined Benefit Plan Disclosure [Line Items]
Plan assets, target allocation (as a percent)	32%	39%
Plan assets, actual allocation (as a percent)	32%	39%
Foreign Plan | Other types
Defined Benefit Plan Disclosure [Line Items]
Plan assets, target allocation (as a percent)	52%	49%
Plan assets, actual allocation (as a percent)	52%	49%
Foreign Plan | Multi-Asset Category
Defined Benefit Plan Disclosure [Line Items]
Plan assets, target allocation (as a percent)	21%	19%
Plan assets, actual allocation (as a percent)	21%	19%
Foreign Plan | Buy-in Contracts
Defined Benefit Plan Disclosure [Line Items]
Plan assets, target allocation (as a percent)	18%	18%
Plan assets, actual allocation (as a percent)	18%	18%
Foreign Plan | Other
Defined Benefit Plan Disclosure [Line Items]
Plan assets, target allocation (as a percent)	13%	12%
Plan assets, actual allocation (as a percent)	13%	12%

Pension and Postretirement B_14

Pension and Postretirement Benefits (Accumulated and Projected Obligations) (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Retirement Benefits [Abstract]
Benefit Obligation	$ 575,538	$ 590,015
Accumulated benefit obligation	559,725	577,942
Fair value of plan assets	$ 384,006	$ 407,307

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Earnings Per Share [Abstract]
Net earnings of Flowserve Corporation	$ 282,759	$ 186,743	$ 188,689
Dividends on restricted shares not expected to vest	0	0	0
Earnings attributable to common and participating shareholders	$ 282,759	$ 186,743	$ 188,689
Weighted average shares:
Common stock (in shares)	131,450,000	131,074,000	130,591,000
Participating securities (in shares)	38,000	43,000	39,000
Denominator for basic earnings per common share (in shares)	131,488,000	131,117,000	130,630,000
Effect of potentially dilutive securities (in shares)	868,000	814,000	685,000
Denominator for diluted earnings per common share (in shares)	132,356,000	131,931,000	131,315,000
Earnings per common share:
Basic (in dollars per share)	$ 2.15	$ 1.42	$ 1.44
Diluted (in dollars per share)	$ 2.14	$ 1.42	$ 1.44
Antidilutive shares (in shares)	12,840	118,781	118,334
Litigation Settlement, Fee Expense	$ 22,700	$ 22,100	$ 14,800

Legal Matters and Contingenci_3

Legal Matters and Contingencies (Details) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2024 claim disposalSite	Dec. 31, 2024 USD ($) disposalSite claim	Dec. 31, 2023 USD ($) claim	Dec. 31, 2022 USD ($) claim
Liability for Asbestos and Environmental Claims, Net [Roll Forward]
Beginning claims		8,236	8,139	8,712
New claims	2,761		2,470	2,454
Resolved claims	(3,027)		(2,545)	(2,204)
Other	157		172	(823)
Ending claims	8,127	8,127	8,236	8,139
Litigation Settlement, Fee Expense | $		$ 22.7	$ 22.1	$ 14.8
Payments For (Proceeds From) Insurance Settlements | $		$ (7.9)	$ (18.4)	$ 4.2
Former public waste disposal site | disposalSite	5	5

Legal Matters and Contingenci_4

Legal Matters and Contingencies - Asbestos Liability (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Liability for Asbestos and Environmental Claims, Net [Roll Forward]
Beginning balance, January 1,	$ 102,903	$ 98,652	$ 94,423
Asbestos liability adjustments, net	23,740	22,237	14,782
Cash payment activity	(10,618)	(12,589)	(5,733)
Other, net	(5,693)	(5,397)	(4,820)
Ending balance, December 31,	$ 110,332	$ 102,903	$ 98,652

Warranty Reserve (Details)

Warranty Reserve (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Movement in Standard and Extended Product Warranty Accrual, Increase (Decrease) [Roll Forward]
Balance — January 1	$ 26,698	$ 22,047	$ 23,893
Accruals for warranty expense, net of adjustments	26,271	26,528	17,342
Settlements made	(21,439)	(21,877)	(19,188)
Balance — December 31	$ 31,530	$ 26,698	$ 22,047

Shareholders' Equity (Details)

Shareholders' Equity (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Feb. 19, 2024	Nov. 13, 2014
Dividends per share (in USD per share)	$ 0.84	$ 0.80	$ 0.80
Authorized repurchase amount				$ 300,000,000
Treasury stock, shares acquired (in shares)	423,785		0
Remaining authorized repurchase amount	$ 279,900,000	$ 96,100,000
Repurchased stock	$ 20,100,000
Share repurchase program 2015
Authorized repurchase amount					$ 500,000,000

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Current:
U.S. federal	$ 36,330	$ 24,766	$ 45,130
Foreign	56,991	51,431	40,876
State and local	5,055	5,018	6,177
Total current provision (benefit)	98,376	81,215	92,183
Deferred:
U.S. federal	(12,648)	3,665	(88,498)
Foreign	381	(62,944)	(42,756)
State and local	(1,180)	(3,374)	(4,568)
Total deferred provision (benefit)	(13,447)	(62,653)	(135,822)
Total provision (benefit)	84,929	18,562	(43,639)
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Statutory federal income tax at 21%	81,100	47,000	32,400
Base Erosion and Anti-abuse Tax	0	0	(7,600)
Foreign impact, net	63,500	10,400	(22,300)
Change in valuation allowances	(58,300)	(34,500)	(50,500)
Research and development credit	(4,700)	(2,900)	(1,000)
U.S. federal tax return to accrual adjustments, not separately disclosed in other categories	(900)	(4,800)	1,800
Other, net	$ 4,200	$ 3,400	$ 3,600
Effective tax rate	22%	8.30%	(28.30%)
Unrecorded foreign undistributed earnings taxes	$ 35,700
Deferred tax assets related to:
Retirement benefits	34,778	$ 34,526
Net operating loss carryforwards	105,174	186,337
Compensation accruals	37,785	41,688
Inventories	29,764	33,168
Credit and capital loss carryforwards	166,999	185,162
Warranty and accrued liabilities	53,466	47,614
Capitalized research and experimental expenditures	67,206	60,542
Other	81,600	89,510
Total deferred tax assets	576,772	678,547
Valuation allowances	(250,841)	(347,673)
Net deferred tax assets	325,931	330,874
Deferred tax liabilities related to:
Goodwill and intangibles	(81,241)	(81,245)
Foreign undistributed earnings	(7,179)	(10,477)
Operating lease right-of-use-assets	(16,967)	(20,198)
Other	(581)	(1,930)
Total deferred tax liabilities	(105,968)	(113,850)
Deferred tax asset (liabilities), net	219,963	217,024
Operating loss carryforward	747,100
Earnings before income taxes comprised:
U.S.	109,794	212,631	$ 63,508
Foreign	276,361	11,119	90,868
Total	386,155	223,750	154,376
Reconciliation of the total gross amount of unrecognized tax benefits, excluding interest and penalities:
Balance —	46,200	50,200	49,900
Gross amount of increase (decrease) in unrecognized tax benefits resulting from tax positions taken:
During a prior year		(9,100)
During a prior year	100		5,400
During the current period	7,200	7,400	5,800
Decreases in unrecognized tax benefits relating to:
Settlements with taxing authorities	0	(2,800)	(5,500)
Lapse of the applicable statute of limitations	(1,900)	(1,400)	(4,100)
Increase (decrease) in unrecognized tax benefits relating to foreign currency translation adjustments		1,900
Increase (decrease) in unrecognized tax benefits relating to foreign currency translation adjustments	(5,500)		(1,300)
Balance —	46,100	46,200	50,200
Gross unrecognized tax benefits	71,300
Gross unrecognized tax benefits, accrued interest and penalties	25,200
Unrecognized tax benefits, if recognized, would favorably impact effective tax rate	54,300
Unrecognized tax benefits minimum amount of estimated reduction within the next twelve months	4,000
Deferred tax asset valuation allowance
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	347,672	356,557	415,962
Additions charged to cost and expenses	6,964	19,684	36,822
Additions charged to other accounts - currency effects and other, net	(37,286)	25,367	(11,775)
Deductions from reserve	(66,509)	(53,936)	(84,452)
Balance at End of Year	250,841	347,672	$ 356,557
Hungary
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Change in valuation allowances		54,200
Germany
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Change in valuation allowances		13,200
MEXICO
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Change in valuation allowances		22,400
UNITED STATES
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Change in valuation allowances		44,400
ARGENTINA
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Change in valuation allowances		13,600
BRAZIL
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Change in valuation allowances		18,900
FRANCE
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Change in valuation allowances		$ 14,600
State and Local Jurisdiction
Deferred tax liabilities related to:
Operating loss carryforward	9,900
Foreign Tax Jurisdiction
Deferred tax assets related to:
Other	64,700
Deferred tax liabilities related to:
Operating loss carryforward	214,000
Tax credit carryforward	67,400
Foreign tax credit carryforrward	54,100
Capital loss carryforward	93,300
Foreign Tax Jurisdiction | 2022-2023 Expiration
Deferred tax liabilities related to:
Tax credit carryforward	93,000
Foreign Tax Jurisdiction | Hungary
Deferred tax liabilities related to:
Operating loss carryforward	430,200
Foreign operating loss carryforward	$ 38,700

Business Segment Information (R

Business Segment Information (Reportable Segments) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) segments	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Segment Reporting Information [Line Items]
Number of operating segments (in segments) | segments	2
Summarized financial information of the reportable segments
Sales to external customers	$ 4,557,806	$ 4,320,577	$ 3,615,120
Intersegment sales	0	0	0
Cost of sales	(3,123,560)	(3,043,749)	(2,620,825)
SG&A	(978,037)	(961,169)	(815,545)
Segment operating income (loss)	462,279	333,553	197,219
Depreciation and amortization	85,598	83,747	90,953
Identifiable assets	5,500,821	5,108,719	4,790,634
Capital expenditures	81,019	67,359	76,287
Subtotal—Reportable Segments
Summarized financial information of the reportable segments
Sales to external customers	4,557,806	4,320,577	3,615,120
Intersegment sales	10,057	9,935	7,997
Cost of sales	(3,126,843)	(3,050,929)	(2,589,520)
SG&A	(808,900)	(800,566)	(730,620)
Other segment items	6,361	17,884	18,397
Segment operating income (loss)	638,481	496,901	321,374
Depreciation and amortization	67,229	64,877	68,585
Identifiable assets	4,782,284	4,525,699	4,380,423
Capital expenditures	71,410	57,566	51,473
Eliminations and All Other
Summarized financial information of the reportable segments
Sales to external customers	0	0	0
Intersegment sales	(10,057)	(9,935)	(7,997)
Depreciation and amortization	18,369	18,870	22,368
Identifiable assets	718,537	583,020	410,211
Capital expenditures	9,609	9,793	24,814
FPD
Summarized financial information of the reportable segments
Sales to external customers	3,154,151	3,060,993	2,518,000
FPD | Subtotal—Reportable Segments
Summarized financial information of the reportable segments
Sales to external customers	3,154,151	3,060,993	2,518,000
Intersegment sales	4,416	3,487	4,508
Cost of sales	(2,141,520)	(2,157,705)	(1,794,425)
SG&A	(556,225)	(575,792)	(538,523)
Other segment items	19,394	17,884	18,397
Segment operating income (loss)	480,216	348,867	207,957
Depreciation and amortization	45,726	47,628	49,654
Identifiable assets	3,042,859	3,191,726	3,110,733
Capital expenditures	51,315	41,613	34,295
FCD
Summarized financial information of the reportable segments
Sales to external customers	1,403,655	1,259,584	1,097,120
FCD | Subtotal—Reportable Segments
Summarized financial information of the reportable segments
Sales to external customers	1,403,655	1,259,584	1,097,120
Intersegment sales	5,641	6,448	3,489
Cost of sales	(985,323)	(893,224)	(795,095)
SG&A	(252,675)	(224,774)	(192,097)
Other segment items	(13,033)	0	0
Segment operating income (loss)	158,265	148,034	113,417
Depreciation and amortization	21,503	17,249	18,931
Identifiable assets	1,739,425	1,333,973	1,269,690
Capital expenditures	$ 20,095	$ 15,953	$ 17,178

Business Segment Information -

Business Segment Information - Reconciliations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Segment operating income (loss)	$ 462,279	$ 333,553	$ 197,219
Intersegment sales	0	0	0
Eliminations and all other cost of sales	3,123,560	3,043,749	2,620,825
Eliminations and all other SG&A	978,037	961,169	815,545
Interest expense	(69,301)	(66,924)	(46,247)
Interest income	5,371	6,991	3,963
Net earnings (loss) from affiliates	19,051	17,894	18,469
Other income (expense), net	(12,194)	(49,870)	(559)
Earnings before income taxes	386,155	223,750	154,376
Operating Segments
Segment Reporting Information [Line Items]
Segment operating income (loss)	638,481	496,901	321,374
Intersegment sales	(10,057)	(9,935)	(7,997)
Eliminations and all other cost of sales	3,126,843	3,050,929	2,589,520
Eliminations and all other SG&A	808,900	800,566	730,620
Eliminations
Segment Reporting Information [Line Items]
Eliminations and all other cost of sales	3,282	7,180	(31,305)
Eliminations and all other SG&A	(169,137)	(160,603)	(84,926)
Net earnings (loss) from affiliates	$ (290)	$ 10	$ 73

Business Segment Information (S

Business Segment Information (Sales and Long-lived Assets by Geographic Area) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Sales	$ 4,557,806	$ 4,320,577	$ 3,615,120
Percentage	100%	100%	100%
Long-Lived Assets	$ 899,683	$ 882,111	$ 887,745
Percentage	100%	100%	100%
Sales Revenue, Goods, Net | Customer Concentration Risk | International Customers
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of net sales to international customers to total sales	64%		62%
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Sales	$ 1,823,595	$ 1,821,751	$ 1,536,961
Percentage	40%	42.20%	42.50%
Long-Lived Assets	$ 421,797	$ 394,395	$ 412,896
Percentage	46.90%	44.70%	46.60%
EMA
Revenues from External Customers and Long-Lived Assets [Line Items]
Sales	$ 1,583,302	$ 1,503,776	$ 1,210,436
Percentage	34.70%	34.80%	33.50%
Long-Lived Assets	$ 278,197	$ 289,061	$ 274,511
Percentage	30.90%	32.80%	30.90%
EMA | Sales Revenue, Goods, Net | Geographic Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of net sales to international customers to total sales	10%
Asia
Revenues from External Customers and Long-Lived Assets [Line Items]
Sales	$ 676,989	$ 584,759	$ 524,952
Percentage	14.90%	13.50%	14.50%
Long-Lived Assets	$ 151,727	$ 140,596	$ 144,206
Percentage	16.90%	15.90%	16.20%
Asia Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Sales	$ 789,611	$ 739,513	$ 694,559
Asia Pacific | Sales Revenue, Goods, Net | Geographic Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of net sales to international customers to total sales	10%
Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Sales	$ 473,920	$ 410,291	$ 342,771
Percentage	10.40%	9.50%	9.50%
Long-Lived Assets	$ 47,962	$ 58,059	$ 56,132
Percentage	5.30%	6.60%	6.30%
Other | Sales Revenue, Goods, Net | Geographic Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of net sales to international customers to total sales	10%
Germany | Sales Revenue, Goods, Net | Geographic Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of net sales to international customers to total sales	10%	11%	10%

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance - January 1	$ (646,568)	$ (641,972)	$ (559,026)
Other comprehensive income (loss) before reclassifications (3)	(106,062)	(6,408)	(81,660)
Amounts reclassified from AOCL	3,888	1,812	(1,286)
Other comprehensive income (loss)	(102,174)	(4,596)	(82,946)
Balance - December 31	(748,742)	(646,568)	(641,972)
Net of tax	(3,888)	(1,812)	1,286
Foreign curency translation, taxes	(3,023)	3,735	(20,526)
Foreign Currency Translation Items
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance - January 1	(523,873)	(554,683)	(456,025)
Other comprehensive income (loss) before reclassifications (3)	(111,790)	30,810	(98,658)
Amounts reclassified from AOCL	3,566	0	0
Other comprehensive income (loss)	(108,224)	30,810	(98,658)
Balance - December 31	(632,097)	(523,873)	(554,683)
Net of tax	(3,566)	0	0
Pension and other post-retirement effects
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance - January 1	(121,882)	(86,356)	(101,665)
Other comprehensive income (loss) before reclassifications (3)	5,728	(37,218)	16,684
Amounts reclassified from AOCL	256	1,692	(1,375)
Other comprehensive income (loss)	5,984	(35,526)	15,309
Balance - December 31	(115,898)	(121,882)	(86,356)
Amount of settlement of reclassification adjustment from accumulated other comprehensive income (loss)	0	8	(75)
Tax benefit (expense)	128	218	8,423
Net of tax	(256)	(1,692)	1,375
Cash flow hedging activity (2)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance - January 1	(813)	(933)	(1,336)
Other comprehensive income (loss) before reclassifications (3)	0	0	314
Amounts reclassified from AOCL	66	120	89
Other comprehensive income (loss)	66	120	403
Balance - December 31	(747)	(813)	(933)
Net of tax	(66)	(120)	(89)
Noncontrolling Interests
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Other comprehensive income (loss)	(350)	(12,783)	1,253
Foreign currency translation adjustments, attributable to noncontrolling interest	(7,300)	(7,000)	5,800	$ 4,600
Noncontrolling Interests | Currency Swap
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Foreign curency translation, taxes			49,000
Amortization of actuarial losses
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Reclassification from AOCI, before tax	(68)	(1,310)	(6,382)
Prior service costs
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Reclassification from AOCI, before tax	(316)	(608)	(591)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Amounts reclassified from AOCL	66	120	89
Reclassification from AOCI, before tax	(123)	(120)	(117)
Tax benefit (expense)	(57)	0	(28)
Net of tax	$ (66)	$ (120)	$ (89)

Realignment and Transformatio_3

Realignment and Transformation Programs (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended			81 Months Ended
	May 01, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2024
Restructuring Cost and Reserve [Line Items]
Total Realignment Charges		$ 49,496	$ 66,037	$ (165)	$ 112,591
Restructuring Charges		39,607	19,260	857	58,867
Non-Restructuring Charges		9,889	46,777	(1,022)	53,724
Restructuring Reserve [Roll Forward]
Charges		39,607	19,260	857	58,867
Subtotal—Reportable Segments
Restructuring Cost and Reserve [Line Items]
Total Realignment Charges		48,958	47,299	170	93,315
Restructuring Charges		39,635	19,194	857	58,829
Non-Restructuring Charges		9,323	28,105	(687)	34,486
Restructuring Reserve [Roll Forward]
Charges		39,635	19,194	857	58,829
All Other
Restructuring Cost and Reserve [Line Items]
Total Realignment Charges		538	18,738	(335)	19,276
Restructuring Charges		(28)	66	0	38
Non-Restructuring Charges		566	18,672	(335)	19,238
Restructuring Reserve [Roll Forward]
Charges		(28)	66	0	38
CORE Realigment Program
Restructuring Cost and Reserve [Line Items]
Total Realignment Charges					2,942
Restructuring Charges					0
Non-Restructuring Charges					2,942
Restructuring Reserve [Roll Forward]
Charges					0
CORE Realigment Program | Subtotal—Reportable Segments
Restructuring Cost and Reserve [Line Items]
Total Realignment Charges					2,942
Restructuring Charges					0
Non-Restructuring Charges					2,942
Restructuring Reserve [Roll Forward]
Charges					0
CORE Realigment Program | All Other
Restructuring Cost and Reserve [Line Items]
Total Realignment Charges					0
Restructuring Charges					0
Non-Restructuring Charges					0
Restructuring Reserve [Roll Forward]
Charges					0
Realignment Programs, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring Charges				857
Restructuring Reserve [Roll Forward]
Charges				857
2023 Realignment Program
Restructuring Cost and Reserve [Line Items]
Cost reduction amount	$ 50,000
Total Realignment Charges	134,000
Realignment and transformation charges (benefits)	$ 45,000
Restructuring Charges		39,607	19,260		58,867
Restructuring Reserve [Roll Forward]
Beginning Balance		8,184	965
Charges		39,607	19,260		58,867
Ending Balance		8,300	8,184	965	8,300
FPD | Subtotal—Reportable Segments
Restructuring Cost and Reserve [Line Items]
Total Realignment Charges		31,805	25,330	386	54,193
Restructuring Charges		25,419	3,012	768	28,431
Non-Restructuring Charges		6,386	22,318	(382)	25,762
Restructuring Reserve [Roll Forward]
Charges		25,419	3,012	768	28,431
FPD | CORE Realigment Program | Subtotal—Reportable Segments
Restructuring Cost and Reserve [Line Items]
Total Realignment Charges					2,942
Restructuring Charges					0
Non-Restructuring Charges					2,942
Restructuring Reserve [Roll Forward]
Charges					0
FCD | Subtotal—Reportable Segments
Restructuring Cost and Reserve [Line Items]
Total Realignment Charges		17,153	21,969	(216)	39,122
Restructuring Charges		14,216	16,182	89	30,398
Non-Restructuring Charges		2,937	5,787	(305)	8,724
Restructuring Reserve [Roll Forward]
Charges		14,216	16,182	89	30,398
FCD | CORE Realigment Program | Subtotal—Reportable Segments
Restructuring Cost and Reserve [Line Items]
Total Realignment Charges					0
Restructuring Charges					0
Non-Restructuring Charges					0
Restructuring Reserve [Roll Forward]
Charges					0
Cost of Sales
Restructuring Cost and Reserve [Line Items]
Total Realignment Charges		31,575	21,012	356	49,646
Restructuring Charges		22,749	9,433	861	32,183
Non-Restructuring Charges		8,826	11,579	(505)	17,463
Restructuring Reserve [Roll Forward]
Charges		$ 22,749	$ 9,433	$ 861	$ 32,183
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]		Cost of sales	Cost of sales	Cost of sales	Cost of sales
Cost of Sales | Subtotal—Reportable Segments
Restructuring Cost and Reserve [Line Items]
Total Realignment Charges		$ 31,803	$ 21,373	$ 417	$ 50,235
Restructuring Charges		22,749	9,367	861	32,117
Non-Restructuring Charges		9,054	12,006	(444)	18,118
Restructuring Reserve [Roll Forward]
Charges		$ 22,749	$ 9,367	$ 861	$ 32,117
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]		Cost of sales	Cost of sales	Cost of sales	Cost of sales
Cost of Sales | All Other
Restructuring Cost and Reserve [Line Items]
Total Realignment Charges		$ (228)	$ (361)	$ (61)	$ (589)
Restructuring Charges		0	66	0	66
Non-Restructuring Charges		(228)	(427)	(61)	(655)
Restructuring Reserve [Roll Forward]
Charges		$ 0	$ 66	$ 0	$ 66
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]		Cost of sales	Cost of sales	Cost of sales	Cost of sales
Cost of Sales | CORE Realigment Program
Restructuring Cost and Reserve [Line Items]
Total Realignment Charges					$ 2,942
Restructuring Charges					0
Non-Restructuring Charges					2,942
Restructuring Reserve [Roll Forward]
Charges					$ 0
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]					Cost of sales
Cost of Sales | CORE Realigment Program | Subtotal—Reportable Segments
Restructuring Cost and Reserve [Line Items]
Total Realignment Charges					$ 2,942
Restructuring Charges					0
Non-Restructuring Charges					2,942
Restructuring Reserve [Roll Forward]
Charges					$ 0
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]					Cost of sales
Cost of Sales | CORE Realigment Program | All Other
Restructuring Cost and Reserve [Line Items]
Total Realignment Charges					$ 0
Restructuring Charges					0
Non-Restructuring Charges					0
Restructuring Reserve [Roll Forward]
Charges					$ 0
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]					Cost of sales
Cost of Sales | Realignment Programs, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring Charges				$ 861
Restructuring Reserve [Roll Forward]
Charges				$ 861
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]				Cost of sales
Cost of Sales | 2023 Realignment Program
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		$ 22,748	$ 9,433		$ 32,183
Restructuring Reserve [Roll Forward]
Charges		$ 22,748	$ 9,433		$ 32,183
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]		Cost of sales	Cost of sales		Cost of sales
Cost of Sales | FPD | Subtotal—Reportable Segments
Restructuring Cost and Reserve [Line Items]
Total Realignment Charges		$ 30,727	$ 10,797	$ 238	$ 38,582
Restructuring Charges		24,113	2,962	768	27,076
Non-Restructuring Charges		6,614	7,835	(530)	11,506
Restructuring Reserve [Roll Forward]
Charges		$ 24,113	$ 2,962	$ 768	$ 27,076
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]		Cost of sales	Cost of sales	Cost of sales	Cost of sales
Cost of Sales | FPD | CORE Realigment Program | Subtotal—Reportable Segments
Restructuring Cost and Reserve [Line Items]
Total Realignment Charges					$ 2,942
Restructuring Charges					0
Non-Restructuring Charges					2,942
Restructuring Reserve [Roll Forward]
Charges					0
Cost of Sales | FCD | Subtotal—Reportable Segments
Restructuring Cost and Reserve [Line Items]
Total Realignment Charges		$ 1,076	$ 10,576	$ 179	11,653
Restructuring Charges		(1,364)	6,405	93	5,041
Non-Restructuring Charges		2,440	4,171	86	6,612
Restructuring Reserve [Roll Forward]
Charges		$ (1,364)	$ 6,405	$ 93	$ 5,041
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]		Cost of sales	Cost of sales	Cost of sales	Cost of sales
Cost of Sales | FCD | CORE Realigment Program | Subtotal—Reportable Segments
Restructuring Cost and Reserve [Line Items]
Total Realignment Charges					$ 0
Restructuring Charges					0
Non-Restructuring Charges					0
Restructuring Reserve [Roll Forward]
Charges					$ 0
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]					Cost of sales
Selling, general and administrative expense ("SG&A")
Restructuring Cost and Reserve [Line Items]
Total Realignment Charges		$ 4,940	$ 45,025	$ (521)	$ 49,964
Restructuring Charges		3,877	9,827	(4)	13,703
Non-Restructuring Charges		1,063	35,198	(517)	36,261
Restructuring Reserve [Roll Forward]
Charges		$ 3,877	$ 9,827	$ (4)	$ 13,703
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]		SG&A	SG&A	SG&A	SG&A
Selling, general and administrative expense ("SG&A") | Subtotal—Reportable Segments
Restructuring Cost and Reserve [Line Items]
Total Realignment Charges		$ 4,174	$ 25,926	$ (247)	$ 30,099
Restructuring Charges		3,905	9,827	(4)	13,731
Non-Restructuring Charges		269	16,099	(243)	16,368
Restructuring Reserve [Roll Forward]
Charges		$ 3,905	$ 9,827	$ (4)	$ 13,731
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]		SG&A	SG&A	SG&A	SG&A
Selling, general and administrative expense ("SG&A") | All Other
Restructuring Cost and Reserve [Line Items]
Total Realignment Charges		$ 766	$ 19,099	$ (274)	$ 19,865
Restructuring Charges		(28)	0	0	(28)
Non-Restructuring Charges		794	19,099	(274)	19,893
Restructuring Reserve [Roll Forward]
Charges		$ (28)	$ 0	$ 0	$ (28)
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]		SG&A	SG&A	SG&A	SG&A
Selling, general and administrative expense ("SG&A") | CORE Realigment Program
Restructuring Cost and Reserve [Line Items]
Total Realignment Charges					$ 0
Restructuring Charges					0
Non-Restructuring Charges					0
Restructuring Reserve [Roll Forward]
Charges					0
Selling, general and administrative expense ("SG&A") | CORE Realigment Program | Subtotal—Reportable Segments
Restructuring Cost and Reserve [Line Items]
Total Realignment Charges					0
Restructuring Charges					0
Non-Restructuring Charges					0
Restructuring Reserve [Roll Forward]
Charges					$ 0
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]					SG&A
Selling, general and administrative expense ("SG&A") | CORE Realigment Program | All Other
Restructuring Cost and Reserve [Line Items]
Total Realignment Charges					$ 0
Restructuring Charges					0
Non-Restructuring Charges					0
Restructuring Reserve [Roll Forward]
Charges					$ 0
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]					SG&A
Selling, general and administrative expense ("SG&A") | Realignment Programs, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring Charges				$ (4)
Restructuring Reserve [Roll Forward]
Charges				$ (4)
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]				SG&A
Selling, general and administrative expense ("SG&A") | 2023 Realignment Program
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		$ 3,878	$ 9,827		$ 13,703
Restructuring Reserve [Roll Forward]
Charges		$ 3,878	$ 9,827		$ 13,703
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]		SG&A	SG&A		SG&A
Selling, general and administrative expense ("SG&A") | FPD | Subtotal—Reportable Segments
Restructuring Cost and Reserve [Line Items]
Total Realignment Charges		$ 1,078	$ 14,533	$ 148	$ 15,611
Restructuring Charges		1,306	50	0	1,355
Non-Restructuring Charges		(228)	14,483	148	14,256
Restructuring Reserve [Roll Forward]
Charges		$ 1,306	$ 50	$ 0	$ 1,355
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]		SG&A	SG&A	SG&A	SG&A
Selling, general and administrative expense ("SG&A") | FPD | CORE Realigment Program | Subtotal—Reportable Segments
Restructuring Cost and Reserve [Line Items]
Total Realignment Charges					$ 0
Restructuring Charges					0
Non-Restructuring Charges					0
Restructuring Reserve [Roll Forward]
Charges					0
Selling, general and administrative expense ("SG&A") | FCD | Subtotal—Reportable Segments
Restructuring Cost and Reserve [Line Items]
Total Realignment Charges		$ 3,096	$ 11,393	$ (395)	14,488
Restructuring Charges		2,599	9,777	(4)	12,376
Non-Restructuring Charges		497	1,616	(391)	2,112
Restructuring Reserve [Roll Forward]
Charges		$ 2,599	$ 9,777	$ (4)	$ 12,376
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]		SG&A	SG&A	SG&A	SG&A
Selling, general and administrative expense ("SG&A") | FCD | CORE Realigment Program | Subtotal—Reportable Segments
Restructuring Cost and Reserve [Line Items]
Total Realignment Charges					$ 0
Restructuring Charges					0
Non-Restructuring Charges					0
Restructuring Reserve [Roll Forward]
Charges					$ 0
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]					SG&A
Income Tax Expense [Member]
Restructuring Cost and Reserve [Line Items]
Total Realignment Charges		$ 12,981			$ 12,981
Restructuring Charges		12,981			12,981
Restructuring Reserve [Roll Forward]
Charges		$ 12,981			$ 12,981
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]		Income Tax Expense (Benefit)			Income Tax Expense (Benefit)
Income Tax Expense [Member] | Subtotal—Reportable Segments
Restructuring Cost and Reserve [Line Items]
Total Realignment Charges		$ 12,981			$ 12,981
Restructuring Charges		12,981			12,981
Restructuring Reserve [Roll Forward]
Charges		$ 12,981			$ 12,981
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]		Income Tax Expense (Benefit)			Income Tax Expense (Benefit)
Income Tax Expense [Member] | All Other
Restructuring Cost and Reserve [Line Items]
Total Realignment Charges		$ 0			$ 0
Restructuring Charges		0			0
Restructuring Reserve [Roll Forward]
Charges		$ 0			$ 0
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]		Income Tax Expense (Benefit)			Income Tax Expense (Benefit)
Income Tax Expense [Member] | 2023 Realignment Program
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		$ 12,981			$ 12,981
Restructuring Reserve [Roll Forward]
Charges		$ 12,981			$ 12,981
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]		Income Tax Expense (Benefit)			Income Tax Expense (Benefit)
Income Tax Expense [Member] | FPD | Subtotal—Reportable Segments
Restructuring Cost and Reserve [Line Items]
Total Realignment Charges		$ 0			$ 0
Restructuring Charges		0			0
Restructuring Reserve [Roll Forward]
Charges		$ 0			$ 0
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]		Income Tax Expense (Benefit)			Income Tax Expense (Benefit)
Income Tax Expense [Member] | FCD | Subtotal—Reportable Segments
Restructuring Cost and Reserve [Line Items]
Total Realignment Charges		$ 12,981			$ 12,981
Restructuring Charges		12,981			12,981
Restructuring Reserve [Roll Forward]
Charges		$ 12,981			$ 12,981
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]		Income Tax Expense (Benefit)			Income Tax Expense (Benefit)
Severance | Realignment Programs, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring Charges				$ 118
Restructuring Reserve [Roll Forward]
Charges				118
Severance | 2023 Realignment Program
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		$ 7,236	$ 8,035		$ 15,270
Restructuring Reserve [Roll Forward]
Charges		7,236	8,035		15,270
Severance | Cost of Sales | Realignment Programs, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring Charges				122
Restructuring Reserve [Roll Forward]
Charges				$ 122
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]				Cost of sales
Severance | Cost of Sales | 2023 Realignment Program
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		7,078	7,085		14,164
Restructuring Reserve [Roll Forward]
Charges		7,078	$ 7,085		14,164
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]			Cost of sales
Severance | Selling, general and administrative expense ("SG&A") | Realignment Programs, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring Charges				$ (4)
Restructuring Reserve [Roll Forward]
Charges				(4)
Severance | Selling, general and administrative expense ("SG&A") | 2023 Realignment Program
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		158	$ 950		1,106
Restructuring Reserve [Roll Forward]
Charges		158	950		1,106
Severance | Income Tax Expense [Member] | 2023 Realignment Program
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		0			0
Restructuring Reserve [Roll Forward]
Charges		0			0
Contract Termination | Realignment Programs, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring Charges				327
Restructuring Reserve [Roll Forward]
Charges				327
Contract Termination | 2023 Realignment Program
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		0	301		301
Restructuring Reserve [Roll Forward]
Charges		0	301		301
Contract Termination | Cost of Sales | Realignment Programs, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring Charges				327
Restructuring Reserve [Roll Forward]
Charges				$ 327
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]				Cost of sales
Contract Termination | Cost of Sales | 2023 Realignment Program
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		0	301		301
Restructuring Reserve [Roll Forward]
Charges		0	$ 301		301
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]			Cost of sales
Contract Termination | Selling, general and administrative expense ("SG&A") | Realignment Programs, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring Charges				$ 0
Restructuring Reserve [Roll Forward]
Charges				0
Contract Termination | Selling, general and administrative expense ("SG&A") | 2023 Realignment Program
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		0	$ 0		0
Restructuring Reserve [Roll Forward]
Charges		0	0		0
Contract Termination | Income Tax Expense [Member] | 2023 Realignment Program
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		0			0
Restructuring Reserve [Roll Forward]
Charges		0			0
Asset Write-Downs | Realignment Programs, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring Charges				273
Restructuring Reserve [Roll Forward]
Charges				273
Asset Write-Downs | 2023 Realignment Program
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		16,611	9,665		26,276
Restructuring Reserve [Roll Forward]
Charges		16,611	9,665		26,276
Asset Write-Downs | Cost of Sales | Realignment Programs, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring Charges				273
Restructuring Reserve [Roll Forward]
Charges				$ 273
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]				Cost of sales
Asset Write-Downs | Cost of Sales | 2023 Realignment Program
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		12,861	794		13,655
Restructuring Reserve [Roll Forward]
Charges		12,861	$ 794		13,655
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]			Cost of sales
Asset Write-Downs | Selling, general and administrative expense ("SG&A") | Realignment Programs, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring Charges				$ 0
Restructuring Reserve [Roll Forward]
Charges				0
Asset Write-Downs | Selling, general and administrative expense ("SG&A") | 2023 Realignment Program
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		3,750	$ 8,871		12,621
Restructuring Reserve [Roll Forward]
Charges		3,750	8,871		12,621
Asset Write-Downs | Income Tax Expense [Member] | 2023 Realignment Program
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		0			0
Restructuring Reserve [Roll Forward]
Charges		0			0
Other | Realignment Programs, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring Charges				139
Restructuring Reserve [Roll Forward]
Charges				139
Other | 2023 Realignment Program
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		15,760	1,259		17,020
Restructuring Reserve [Roll Forward]
Charges		15,760	1,259		17,020
Other | Cost of Sales | Realignment Programs, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring Charges				139
Restructuring Reserve [Roll Forward]
Charges				$ 139
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]				Cost of sales
Other | Cost of Sales | 2023 Realignment Program
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		2,809	1,253		4,063
Restructuring Reserve [Roll Forward]
Charges		2,809	$ 1,253		4,063
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]			Cost of sales
Other | Selling, general and administrative expense ("SG&A") | Realignment Programs, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring Charges				$ 0
Restructuring Reserve [Roll Forward]
Charges				$ 0
Other | Selling, general and administrative expense ("SG&A") | 2023 Realignment Program
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		(30)	$ 6		(24)
Restructuring Reserve [Roll Forward]
Charges		(30)	6		(24)
Other | Income Tax Expense [Member] | 2023 Realignment Program
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		12,981			12,981
Restructuring Reserve [Roll Forward]
Charges		12,981			$ 12,981
Charges Expected to be Settled in Cash | 2023 Realignment Program
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		10,129	9,594
Restructuring Reserve [Roll Forward]
Charges		10,129	9,594
Restructuring Cash Payment | 2023 Realignment Program
Restructuring Reserve [Roll Forward]
Cash expenditures		(8,050)	(2,110)
Other Non-Cash Adjustments | 2023 Realignment Program
Restructuring Reserve [Roll Forward]
Other non-cash adjustments, including currency		$ (1,963)	$ (265)