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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 575,795 $ 658,452
Accounts receivable, net of allowance for expected credit losses of $79,326 and $74,336, respectively 730,201 739,210
Contract assets, net of allowance for expected credit losses of $3,338 and $2,393, respectively 200,054 195,598
Inventories, net 722,380 678,287
Prepaid expenses and other 148,426 117,130
Total current assets 2,376,856 2,388,677
Property, plant and equipment, net of accumulated depreciation of $1,161,374 and $1,191,823, respectively 506,655 515,927
Operating lease right-of-use assets, net 187,272 193,863
Goodwill 1,186,221 1,196,479
Deferred taxes 31,692 44,049
Other intangible assets, net 148,461 152,463
Other assets, net of allowance for expected credit losses of $68,184 and $67,696, respectively 265,854 258,310
Total assets 4,703,011 4,749,768
Current liabilities:    
Accounts payable 418,719 410,062
Accrued liabilities 447,175 445,092
Contract liabilities 204,158 202,965
Debt due within one year 44,616 41,058
Operating lease liabilities 32,938 32,628
Total current liabilities 1,147,606 1,131,805
Long-term debt due after one year 1,251,595 1,261,770
Operating lease liabilities 160,057 166,786
Retirement obligations and other liabilities 352,698 352,062
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 496,151 506,386
Retained earnings 3,648,678 3,691,023
Treasury shares, at cost – 46,424 and 46,794 shares, respectively (2,039,900) (2,057,706)
Deferred compensation obligation 7,122 7,214
Accumulated other comprehensive loss (578,053) (563,589)
Total Flowserve Corporation shareholders’ equity 1,754,989 1,804,319
Noncontrolling interests 36,066 33,026
Total equity 1,791,055 1,837,345
Total liabilities and equity $ 4,703,011 $ 4,749,768