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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 630,397 $ 1,095,274
Accounts receivable, net of allowance for expected credit losses of $74,782 and $75,176, respectively 729,551 753,462
Contract assets, net of allowance for expected credit losses of $3,038 and $3,205, respectively 262,231 277,734
Inventories, net 690,145 667,228
Prepaid expenses and other 128,364 110,635
Total current assets 2,440,688 2,904,333
Property, plant and equipment, net of accumulated depreciation of $1,107,765 and $1,093,348, respectively 526,101 556,873
Operating lease right-of-use assets, net 204,075 208,125
Goodwill 1,213,103 1,224,886
Deferred taxes 46,904 30,538
Other intangible assets, net 160,653 168,496
Other assets, net of allowance for expected credit losses of $67,770 and $67,842, respectively 227,145 221,426
Total assets 4,818,669 5,314,677
Current liabilities:    
Accounts payable 393,608 440,199
Accrued liabilities 422,161 463,222
Contract liabilities 209,092 194,227
Debt due within one year 9,599 8,995
Operating lease liabilities 35,256 34,990
Total current liabilities 1,069,716 1,141,633
Long-term debt due after one year 1,307,149 1,717,911
Operating lease liabilities 173,388 176,246
Retirement obligations and other liabilities 497,724 517,566
Commitments and contingencies (See Note 11)
Shareholders’ equity:    
Common shares, $1.25 par value, Shares authorized - 305,000, Shares issued - 176,793 220,991 220,991
Capital in excess of par value 494,221 502,227
Retained earnings 3,677,117 3,670,543
Treasury shares, at cost – 46,806 and 46,768 shares, respectively (2,058,279) (2,059,309)
Deferred compensation obligation 7,077 6,164
Accumulated other comprehensive loss (600,143) (609,625)
Total Flowserve Corporation shareholders’ equity 1,740,984 1,730,991
Noncontrolling interests 29,708 30,330
Total equity 1,770,692 1,761,321
Total liabilities and equity $ 4,818,669 $ 5,314,677