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v3.21.2

Realignment and Transformation Programs (Tables) | 9 Months Ended
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Sep. 30, 2021
Restructuring and Related Activities [Abstract] |
Restructuring and Related Costs | The following is a summary of total charges, net of adjustments, incurred in 2021 related to our 2020 Realignment Program and the total charges incurred in 2020 are related to our 2020 Realignment Program and Flowserve 2.0 Transformation:
| Three Months Ended September 30, 2021
(Amounts in thousands) | FPD |  | FCD |  | Subtotal–Reportable Segments |  | All Other |  | Consolidated Total
Realignment Charges |  |  |  |  |  |  |  |  |
Restructuring Charges |  |  |  |  |  |  |  |  |
COS | $ | 1,659 |  |  | $ | 185 |  |  | $ | 1,844 |  |  | $ | — |  |  | $ | 1,844 |
SG&A | 38 |  |  | (7) |  |  | 31 |  |  | — |  |  | 31 |
| $ | 1,697 |  |  | $ | 178 |  |  | $ | 1,875 |  |  | $ | — |  |  | $ | 1,875 |
Non-Restructuring Charges |  |  |  |  |  |  |  |  |
COS | $ | 614 |  |  | $ | 124 |  |  | $ | 738 |  |  | $ | — |  |  | $ | 738 |
SG&A | (290) |  |  | 6 |  |  | (284) |  |  | 621 |  |  | 337 |
| $ | 324 |  |  | $ | 130 |  |  | $ | 454 |  |  | $ | 621 |  |  | $ | 1,075 |
Total Realignment Charges |  |  |  |  |  |  |  |  |
COS | $ | 2,273 |  |  | $ | 309 |  |  | $ | 2,582 |  |  | $ | — |  |  | $ | 2,582 |
SG&A | (252) |  |  | (1) |  |  | (253) |  |  | 621 |  |  | 368 |
Total | $ | 2,021 |  |  | $ | 308 |  |  | $ | 2,329 |  |  | $ | 621 |  |  | $ | 2,950 |
| Three Months Ended September 30, 2020
(Amounts in thousands) | FPD |  | FCD |  | Subtotal–Reportable Segments |  | All Other |  | Consolidated Total
Realignment Charges |  |  |  |  |  |  |  |  |
Restructuring Charges |  |  |  |  |  |  |  |  |
COS | $ | 5,469 |  |  | $ | 590 |  |  | $ | 6,059 |  |  | $ | — |  |  | $ | 6,059 |
SG&A | (10) |  |  | (2) |  |  | (12) |  |  | — |  |  | (12) |
| $ | 5,459 |  |  | $ | 588 |  |  | $ | 6,047 |  |  | $ | — |  |  | $ | 6,047 |
Non-Restructuring Charges |  |  |  |  |  |  |  |  |
COS | $ | 1,210 |  |  | $ | (1,366) |  |  | $ | (156) |  |  | $ | (245) |  |  | $ | (401) |
SG&A | 1,097 |  |  | 75 |  |  | 1,172 |  |  | 613 |  |  | 1,785 |
| $ | 2,307 |  |  | $ | (1,291) |  |  | $ | 1,016 |  |  | $ | 368 |  |  | $ | 1,384 |
Total Realignment Charges |  |  |  |  |  |  |  |  |
COS | $ | 6,679 |  |  | $ | (776) |  |  | $ | 5,903 |  |  | $ | (245) |  |  | $ | 5,658 |
SG&A | 1,087 |  |  | 73 |  |  | 1,160 |  |  | 613 |  |  | $ | 1,773 |
Total | $ | 7,766 |  |  | $ | (703) |  |  | $ | 7,063 |  |  | $ | 368 |  |  | $ | 7,431 |
Transformation Charges |  |  |  |  |  |  |  |  |
SG&A | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 4,746 |  |  | $ | 4,746 |
| $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 4,746 |  |  | $ | 4,746 |
Total Realignment and Transformation Charges |  |  |  |  |  |  |  |  |
COS | $ | 6,679 |  |  | $ | (776) |  |  | $ | 5,903 |  |  | $ | (245) |  |  | $ | 5,658 |
SG&A | 1,087 |  |  | $ | 73 |  |  | 1,160 |  |  | 5,359 |  |  | 6,519 |
Total | $ | 7,766 |  |  | $ | (703) |  |  | $ | 7,063 |  |  | $ | 5,114 |  |  | $ | 12,177 |
| Nine Months Ended September 30, 2021
(Amounts in thousands) | FPD |  | FCD |  | Subtotal–Reportable Segments |  | All Other |  | Consolidated Total
Realignment Charges |  |  |  |  |  |  |  |  |
Restructuring Charges |  |  |  |  |  |  |  |  |
COS | $ | 7,702 |  |  | $ | 655 |  |  | $ | 8,357 |  |  | $ | — |  |  | $ | 8,357 |
SG&A | 705 |  |  | (17) |  |  | 688 |  |  | — |  |  | 688 |
| $ | 8,407 |  |  | $ | 638 |  |  | $ | 9,045 |  |  | $ | — |  |  | $ | 9,045 |
Non-Restructuring Charges |  |  |  |  |  |  |  |  |
COS | $ | 6,064 |  |  | $ | 802 |  |  | $ | 6,866 |  |  | $ | 590 |  |  | $ | 7,456 |
SG&A | 205 |  |  | 744 |  |  | 949 |  |  | 4,816 |  |  | 5,765 |
| $ | 6,269 |  |  | $ | 1,546 |  |  | $ | 7,815 |  |  | $ | 5,406 |  |  | $ | 13,221 |
Total Realignment Charges |  |  |  |  |  |  |  |  |
COS | $ | 13,766 |  |  | $ | 1,457 |  |  | $ | 15,223 |  |  | $ | 590 |  |  | $ | 15,813 |
SG&A | 910 |  |  | 727 |  |  | 1,637 |  |  | 4,816 |  |  | 6,453 |
Total | $ | 14,676 |  |  | $ | 2,184 |  |  | $ | 16,860 |  |  | $ | 5,406 |  |  | $ | 22,266 |
| Nine Months Ended September 30, 2020
(Amounts in thousands) | FPD |  | FCD |  | Subtotal–Reportable Segments |  | All Other |  | Consolidated Total
Restructuring Charges |  |  |  |  |  |  |  |  |
COS | $ | 18,800 |  |  | $ | 318 |  |  | $ | 19,118 |  |  | $ | — |  |  | $ | 19,118 |
SG&A | 221 |  |  | (5) |  |  | 216 |  |  | — |  |  | 216 |
| $ | 19,021 |  |  | $ | 313 |  |  | $ | 19,334 |  |  | $ | — |  |  | $ | 19,334 |
Non-Restructuring Charges |  |  |  |  |  |  |  |  |
COS | $ | 13,339 |  |  | $ | 7,876 |  |  | $ | 21,215 |  |  | $ | 303 |  |  | $ | 21,518 |
SG&A | 10,899 |  |  | 4,459 |  |  | 15,358 |  |  | 16,107 |  |  | 31,465 |
| $ | 24,238 |  |  | $ | 12,335 |  |  | $ | 36,573 |  |  | $ | 16,410 |  |  | $ | 52,983 |
Total Realignment Charges |  |  |  |  |  |  |  |  |
COS | $ | 32,139 |  |  | $ | 8,194 |  |  | $ | 40,333 |  |  | $ | 303 |  |  | $ | 40,636 |
SG&A | 11,120 |  |  | 4,454 |  |  | 15,574 |  |  | 16,107 |  |  | 31,681 |
Total | $ | 43,259 |  |  | $ | 12,648 |  |  | $ | 55,907 |  |  | $ | 16,410 |  |  | $ | 72,317 |
Transformation Charges |  |  |  |  |  |  |  |  |
SG&A | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 16,007 |  |  | $ | 16,007 |
| $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 16,007 |  |  | $ | 16,007 |
Total Realignment Charges |  |  |  |  |  |  |  |  |
COS | $ | 32,139 |  |  | $ | 8,194 |  |  | $ | 40,333 |  |  | $ | 303 |  |  | $ | 40,636 |
SG&A | 11,120 |  |  | 4,454 |  |  | 15,574 |  |  | 32,114 |  |  | 47,688 |
Total | $ | 43,259 |  |  | $ | 12,648 |  |  | $ | 55,907 |  |  | $ | 32,417 |  |  | $ | 88,324 |
The following is a summary of total inception to date charges, net of adjustments, related to the 2020 Realignment Program:
| Inception to Date
(Amounts in thousands) | FPD |  | FCD |  | Subtotal–Reportable Segments |  | All Other |  | Consolidated Total
Realignment Charges |  |  |  |  |  |  |  |  |
Restructuring Charges |  |  |  |  |  |  |  |  |
COS | $ | 25,531 |  |  | $ | 1,882 |  |  | $ | 27,413 |  |  | $ | — |  |  | $ | 27,413 |
SG&A | 756 |  |  | 309 |  |  | 1,065 |  |  | — |  |  | 1,065 |
| $ | 26,287 |  |  | $ | 2,191 |  |  | $ | 28,478 |  |  | $ | — |  |  | $ | 28,478 |
Non-Restructuring Charges |  |  |  |  |  |  |  |  |
COS | $ | 25,267 |  |  | $ | 329 |  |  | $ | 25,596 |  |  | $ | 642 |  |  | $ | 26,238 |
SG&A | 10,886 |  |  | 5,299 |  |  | 16,185 |  |  | 22,698 |  |  | 38,883 |
| $ | 36,153 |  |  | $ | 5,628 |  |  | $ | 41,781 |  |  | $ | 23,340 |  |  | $ | 65,121 |
Total Realignment Charges |  |  |  |  |  |  |  |  |
COS | $ | 50,798 |  |  | $ | 2,211 |  |  | $ | 53,009 |  |  | $ | 642 |  |  | $ | 53,651 |
SG&A | 11,642 |  |  | 5,608 |  |  | 17,250 |  |  | 22,698 |  |  | 39,948 |
Total | $ | 62,440 |  |  | $ | 7,819 |  |  | $ | 70,259 |  |  | $ | 23,340 |  |  | $ | 93,599 |
Schedule of Restructuring Reserve by Type of Cost | The following is a summary of restructuring charges, net of adjustments, for our restructuring activities related to our 2020 Realignment Program:
| Three Months Ended September 30, 2021
(Amounts in thousands) | Severance |  | Contract Termination |  | Asset Write-Downs |  | Other |  | Total
COS | $ | (371) |  |  | $ | — |  |  | $ | 1,282 |  |  | $ | 933 |  |  | $ | 1,844 |
SG&A | — |  |  | — |  |  | — |  |  | 31 |  |  | 31 |
Total | $ | (371) |  |  | $ | — |  |  | $ | 1,282 |  |  | $ | 964 |  |  | $ | 1,875 |
| Three Months Ended September 30, 2020
(Amounts in thousands) | Severance |  | Contract Termination |  | Asset Write-Downs |  | Other |  | Total
COS | $ | 4,704 |  |  | $ | — |  |  | $ | 331 |  |  | $ | 1,024 |  |  | $ | 6,059 |
SG&A | (16) |  |  | — |  |  | 3 |  |  | 1 |  |  | (12) |
Total | $ | 4,688 |  |  | $ | — |  |  | $ | 334 |  |  | $ | 1,025 |  |  | $ | 6,047 |
| Nine Months Ended September 30, 2021
(Amounts in thousands) | Severance |  | Contract Termination |  | Asset Write-Downs |  | Other |  | Total
COS | $ | 848 |  |  | $ | — |  |  | $ | 2,623 |  |  | $ | 4,886 |  |  | $ | 8,357 |
SG&A | 168 |  |  |  |  | — |  |  | 520 |  |  | 688 |
Total | $ | 1,016 |  |  | $ | — |  |  | $ | 2,623 |  |  | $ | 5,406 |  |  | $ | 9,045 |
| Nine Months Ended September 30, 2020
(Amounts in thousands) | Severance |  | Contract Termination |  | Asset Write-Downs |  | Other |  | Total
COS | $ | 16,959 |  |  | $ | — |  |  | $ | 1,322 |  |  | $ | 837 |  |  | $ | 19,118 |
SG&A | 228 |  |  | — |  |  | 25 |  |  | (37) |  |  | 216 |
Total | $ | 17,187 |  |  | $ | — |  |  | $ | 1,347 |  |  | $ | 800 |  |  | $ | 19,334 |
The following is a summary of total inception to date restructuring charges, net of adjustments, related to our 2020 Realignment Program:
| Inception to Date
(Amounts in thousands) | Severance |  | Contract Termination |  | Asset Write-Downs |  | Other |  | Total
COS | $ | 16,092 |  |  | $ | 52 |  |  | $ | 4,035 |  |  | $ | 7,234 |  |  | $ | 27,413 |
SG&A | 252 |  |  | — |  |  | 14 |  |  | 799 |  |  | 1,065 |
Total | $ | 16,344 |  |  | $ | 52 |  |  | $ | 4,049 |  |  | $ | 8,033 |  |  | $ | 28,478 |
The following represents the activity, primarily severance charges from reductions in force, related to the restructuring reserves for the nine months ended September 30, 2021 and 2020:
(Amounts in thousands) | 2021 |  | 2020
Balance at January 1 | $ | 18,255 |  |  | $ | 6,703 |
Charges, net of adjustments | 6,423 |  |  | 17,986 |
Cash expenditures | (16,999) |  |  | (4,772) |
Other non-cash adjustments, including currency | (1,039) |  |  | 425 |
Balance at September 30 | $ | 6,640 |  |  | $ | 20,342 |

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