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Earnings Per Share | 9 Months Ended
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Sep. 30, 2021
Earnings Per Share [Abstract] |
Earnings Per Share | Earnings Per Share The following is a reconciliation of net earnings of Flowserve Corporation and weighted average shares for calculating net earnings per common share. Earnings per weighted average common share outstanding was calculated as follows:
| Three Months Ended September 30,
(Amounts in thousands, except per share data) | 2021 |  | 2020
Net earnings of Flowserve Corporation | $ | 49,785 |  |  | $ | 56,115 |
Dividends on restricted shares not expected to vest | — |  |  | — |
Earnings attributable to common and participating shareholders | $ | 49,785 |  |  | $ | 56,115 |
Weighted average shares: |  |  |
Common stock | 130,210 |  |  | 130,292 |
Participating securities | 32 |  |  | 21 |
Denominator for basic earnings per common share | 130,242 |  |  | 130,313 |
Effect of potentially dilutive securities | 547 |  |  | 587 |
Denominator for diluted earnings per common share | 130,789 |  |  | 130,900 |
Earnings per common share: |  |  |
Basic | $ | 0.38 |  |  | $ | 0.43 |
Diluted | 0.38 |  |  | 0.43 |
| Nine Months Ended September 30,
(Amounts in thousands, except per share data) | 2021 |  | 2020
Net earnings of Flowserve Corporation | $ | 109,218 |  |  | $ | 74,369 |
Dividends on restricted shares not expected to vest | — |  |  | — |
Earnings attributable to common and participating shareholders | $ | 109,218 |  |  | $ | 74,369 |
Weighted average shares: |  |  |
Common stock | 130,298 |  |  | 130,390 |
Participating securities | 27 |  |  | 23 |
Denominator for basic earnings per common share | 130,325 |  |  | 130,413 |
Effect of potentially dilutive securities | 542 |  |  | 655 |
Denominator for diluted earnings per common share | 130,867 |  |  | 131,068 |
Earnings per common share: |  |  |
Basic | $ | 0.84 |  |  | $ | 0.57 |
Diluted | 0.83 |  |  | 0.57 |
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.

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