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Realignment and Transformation Programs (Tables)

3 Months Ended

Mar. 31, 2021

Restructuring and Related Activities [Abstract]

Restructuring and Related Costs

The following is a summary of total charges, net of adjustments, incurred in 2021 related to our 2020 Realignment Program and the total charges incurred in 2020 are related to our 2020 Realignment Program and Flowserve 2.0 Transformation:

			Three Months Ended March 31, 2021
(Amounts in thousands)			FPD						FCD						Subtotal–Reportable Segments						All Other						Consolidated Total
Realignment Charges
Restructuring Charges
COS			$	4,027					$	299					$	4,326					$	—					$	4,326
SG&A			—						(9)						(9)						—						(9)
			$	4,027					$	290					$	4,317					$	—					$	4,317
Non-Restructuring Charges
COS			$	3,892					$	598					$	4,490					$	590					$	5,080
SG&A			157						868						1,025						3,280						4,305
			$	4,049					$	1,466					$	5,515					$	3,870					$	9,385
Total Realignment Charges
COS			$	7,919					$	897					$	8,816					$	590					$	9,406
SG&A			157						859						1,016						3,280						4,296
Total			$	8,076					$	1,756					$	9,832					$	3,870					$	13,702

			Three Months Ended March 31, 2020
(Amounts in thousands)			FPD						FCD						Subtotal–Reportable Segments						All Other						Consolidated Total
Realignment Charges
Restructuring Charges
COS			$	1,680					$	(105)					$	1,575					$	—					$	1,575
SG&A			104						10						114						(16)						98
			$	1,784					$	(95)					$	1,689					$	(16)					$	1,673
Non-Restructuring Charges
COS			$	126					$	6,325					$	6,451					$	—					$	6,451
SG&A			485						50						535						645						1,180
			$	611					$	6,375					$	6,986					$	645					$	7,631
Total Realignment Charges
COS			$	1,806					$	6,220					$	8,026					$	—					$	8,026
SG&A			589						60						649						629						$	1,278
Total			$	2,395					$	6,280					$	8,675					$	629					$	9,304
Transformation Charges
SG&A			$	—					$	—					$	—					$	5,643					$	5,643
			$	—					$	—					$	—					$	5,643					$	5,643
Total Realignment and Transformation Charges
COS			$	1,806					$	6,220					$	8,026					$	—					$	8,026
SG&A			589						$	60					649						6,272						6,921
Total			$	2,395					$	6,280					$	8,675					$	6,272					$	14,947

The following is a summary of total inception to date charges, net of adjustments, related to the 2020 Realignment Program:

			Inception to Date
(Amounts in thousands)			FPD						FCD						Subtotal–Reportable Segments						All Other						Consolidated Total
Realignment Charges
Restructuring Charges
COS			$	21,856					$	1,526					$	23,382					$	—					$	23,382
SG&A			51						316						367						—						367
			$	21,907					$	1,842					$	23,749					$	—					$	23,749
Non-Restructuring Charges
COS			$	23,095					$	125					$	23,220					$	642					$	23,862
SG&A			10,838						5,422						16,260						21,162						37,422
			$	33,933					$	5,547					$	39,480					$	21,804					$	61,284
Total Realignment Charges
COS			$	44,951					$	1,651					$	46,602					$	642					$	47,244
SG&A			10,889						5,738						16,627						21,162						37,789
Total			$	55,840					$	7,389					$	63,229					$	21,804					$	85,033

Schedule of Restructuring Reserve by Type of Cost

The following is a summary of restructuring charges, net of adjustments, for our restructuring activities related to our 2020 Realignment Program:

			Three Months Ended March 31, 2021
(Amounts in thousands)			Severance						Contract Termination						Asset Write-Downs						Other						Total
COS			$	1,373					$	—					$	2,190					$	763					$	4,326
SG&A			—						—						—						(9)						(9)
Total			$	1,373					$	—					$	2,190					$	754					$	4,317

			Three Months Ended March 31, 2020
(Amounts in thousands)			Severance						Contract Termination						Asset Write-Downs						Other						Total
COS			$	1,683					$	—					$	(3)					$	(105)					$	1,575
SG&A			139						—						(3)						(38)						98
Total			$	1,822					$	—					$	(6)					$	(143)					$	1,673

The following is a summary of total inception to date restructuring charges, net of adjustments, related to our 2020 Realignment Program :

			Inception to Date
(Amounts in thousands)			Severance						Contract Termination						Asset Write-Downs						Other						Total
COS			$	16,617					$	52					$	3,602					$	3,111					$	23,382
SG&A			84						—						14						269						367
Total			$	16,701					$	52					$	3,616					$	3,380					$	23,749

The following represents the activity, primarily severance charges from reductions in force, related to the restructuring reserves for the three months ended March 31, 2021 and 2020:

(Amounts in thousands)			2021						2020
Balance at January 1			$	18,255					$	6,703
Charges, net of adjustments			2,127						1,658
Cash expenditures			(8,296)						(1,827)
Other non-cash adjustments, including currency			(617)						(216)
Balance at March 31			$	11,469					$	6,318

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Tabular disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets.

+ References

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- Definition

Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
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