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v3.22.2

Realignment Programs (Tables) | 6 Months Ended
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Jun. 30, 2022
Restructuring and Related Activities [Abstract] |
Restructuring and Related Costs | The following table presents the above impacts of the Russia pre-tax charge:
|  |  | Six Months Ended June 30, 2022
(Amounts in thousands) |  |  |  |  |  |  | Flowserve Pump Division |  | Flow Control Division |  | Consolidated Total
Sales |  |  |  |  |  |  | $ | (5,429) |  |  | $ | (2) |  |  | $ | (5,431) |
Cost of sales |  |  |  |  |  |  | 3,510 |  |  | 1,112 |  |  | 4,622 |
Gross loss |  |  |  |  |  |  | (8,939) |  |  | (1,114) |  |  | (10,053) |
Selling, general and administrative expense |  |  |  |  |  |  | 9,111 |  |  | 1,082 |  |  | 10,193 |
Operating loss |  |  |  |  |  |  | $ | (18,050) |  |  | $ | (2,196) |  |  | $ | (20,246) |
The following is a summary of total charges, net of adjustments, incurred related to our Realignment Program:
| Three Months Ended June 30, 2022
(Amounts in thousands) | FPD |  | FCD |  | Subtotal–Reportable Segments |  | All Other |  | Consolidated Total
Realignment Charges |  |  |  |  |  |  |  |  |
Restructuring Charges |  |  |  |  |  |  |  |  |
COS | $ | 604 |  |  | $ | 76 |  |  | $ | 680 |  |  | $ | — |  |  | $ | 680 |
SG&A | — |  |  | — |  |  | — |  |  | — |  |  | — |
| $ | 604 |  |  | $ | 76 |  |  | $ | 680 |  |  | $ | — |  |  | $ | 680 |
Non-Restructuring Charges |  |  |  |  |  |  |  |  |
COS | $ | (225) |  |  | $ | 12 |  |  | $ | (213) |  |  | $ | — |  |  | $ | (213) |
SG&A | 2 |  |  | 33 |  |  | 35 |  |  | 27 |  |  | 62 |
| $ | (223) |  |  | $ | 45 |  |  | $ | (178) |  |  | $ | 27 |  |  | $ | (151) |
Total Realignment Charges |  |  |  |  |  |  |  |  |
COS | $ | 379 |  |  | $ | 88 |  |  | $ | 467 |  |  | $ | — |  |  | $ | 467 |
SG&A | 2 |  |  | 33 |  |  | 35 |  |  | 27 |  |  | 62 |
Total | $ | 381 |  |  | $ | 121 |  |  | $ | 502 |  |  | $ | 27 |  |  | $ | 529 |
| Three Months Ended June 30, 2021
(Amounts in thousands) | FPD |  | FCD |  | Subtotal–Reportable Segments |  | All Other |  | Consolidated Total
Realignment Charges |  |  |  |  |  |  |  |  |
Restructuring Charges |  |  |  |  |  |  |  |  |
COS | $ | 2,016 |  |  | $ | 171 |  |  | $ | 2,187 |  |  | $ | — |  |  | $ | 2,187 |
SG&A | 667 |  |  | — |  |  | 667 |  |  | — |  |  | 667 |
| $ | 2,683 |  |  | $ | 171 |  |  | $ | 2,854 |  |  | $ | — |  |  | $ | 2,854 |
Non-Restructuring Charges |  |  |  |  |  |  |  |  |
COS | $ | 1,558 |  |  | $ | 80 |  |  | $ | 1,638 |  |  | $ | — |  |  | $ | 1,638 |
SG&A | 338 |  |  | (129) |  |  | 209 |  |  | 915 |  |  | 1,124 |
| $ | 1,896 |  |  | $ | (49) |  |  | $ | 1,847 |  |  | $ | 915 |  |  | $ | 2,762 |
Total Realignment Charges |  |  |  |  |  |  |  |  |
COS | $ | 3,574 |  |  | $ | 251 |  |  | $ | 3,825 |  |  | $ | — |  |  | $ | 3,825 |
SG&A | 1,005 |  |  | (129) |  |  | 876 |  |  | 915 |  |  | 1,791 |
Total | $ | 4,579 |  |  | $ | 122 |  |  | $ | 4,701 |  |  | $ | 915 |  |  | $ | 5,616 |
| Six Months Ended June 30, 2022
(Amounts in thousands) | FPD |  | FCD |  | Subtotal–Reportable Segments |  | All Other |  | Consolidated Total
Realignment Charges |  |  |  |  |  |  |  |  |
Restructuring Charges |  |  |  |  |  |  |  |  |
COS | $ | 885 |  |  | $ | 71 |  |  | $ | 956 |  |  | $ | — |  |  | $ | 956 |
SG&A | — |  |  | — |  |  | — |  |  | — |  |  | — |
| $ | 885 |  |  | $ | 71 |  |  | $ | 956 |  |  | $ | — |  |  | $ | 956 |
Non-Restructuring Charges |  |  |  |  |  |  |  |  |
COS | $ | (589) |  |  | $ | (37) |  |  | $ | (626) |  |  | $ | (61) |  |  | $ | (687) |
SG&A | 77 |  |  | 50 |  |  | 127 |  |  | (266) |  |  | (139) |
| $ | (512) |  |  | $ | 13 |  |  | $ | (499) |  |  | $ | (327) |  |  | $ | (826) |
Total Realignment Charges |  |  |  |  |  |  |  |  |
COS | $ | 296 |  |  | $ | 34 |  |  | $ | 330 |  |  | $ | (61) |  |  | $ | 269 |
SG&A | 77 |  |  | 50 |  |  | 127 |  |  | (266) |  |  | (139) |
Total | $ | 373 |  |  | $ | 84 |  |  | $ | 457 |  |  | $ | (327) |  |  | $ | 130 |
| Six Months Ended June 30, 2021
(Amounts in thousands) | FPD |  | FCD |  | Subtotal–Reportable Segments |  | All Other |  | Consolidated Total
Realignment Charges |  |  |  |  |  |  |  |  |
Restructuring Charges |  |  |  |  |  |  |  |  |
COS | $ | 6,043 |  |  | $ | 470 |  |  | $ | 6,513 |  |  | $ | — |  |  | $ | 6,513 |
SG&A | 667 |  |  | (9) |  |  | 658 |  |  | — |  |  | 658 |
| $ | 6,710 |  |  | $ | 461 |  |  | $ | 7,171 |  |  | $ | — |  |  | $ | 7,171 |
Non-Restructuring Charges |  |  |  |  |  |  |  |  |
COS | $ | 5,449 |  |  | $ | 678 |  |  | $ | 6,127 |  |  | $ | 590 |  |  | $ | 6,717 |
SG&A | 495 |  |  | 739 |  |  | 1,234 |  |  | 4,195 |  |  | 5,429 |
| $ | 5,944 |  |  | $ | 1,417 |  |  | $ | 7,361 |  |  | $ | 4,785 |  |  | $ | 12,146 |
Total Realignment Charges |  |  |  |  |  |  |  |  |
COS | $ | 11,492 |  |  | $ | 1,148 |  |  | $ | 12,640 |  |  | $ | 590 |  |  | $ | 13,230 |
SG&A | 1,162 |  |  | 730 |  |  | 1,892 |  |  | 4,195 |  |  | 6,087 |
Total | $ | 12,654 |  |  | $ | 1,878 |  |  | $ | 14,532 |  |  | $ | 4,785 |  |  | $ | 19,317 |
The following is a summary of total inception to date charges, net of adjustments, related to the Realignment Program:
| Inception to Date
(Amounts in thousands) | FPD |  | FCD |  | Subtotal–Reportable Segments |  | All Other |  | Consolidated Total
Realignment Charges |  |  |  |  |  |  |  |  |
Restructuring Charges |  |  |  |  |  |  |  |  |
COS | $ | 26,761 |  |  | $ | 2,107 |  |  | $ | 28,868 |  |  | $ | — |  |  | $ | 28,868 |
SG&A | 716 |  |  | 333 |  |  | 1,049 |  |  | (17) |  |  | 1,032 |
| $ | 27,477 |  |  | $ | 2,440 |  |  | $ | 29,917 |  |  | $ | (17) |  |  | $ | 29,900 |
Non-Restructuring Charges |  |  |  |  |  |  |  |  |
COS | $ | 24,818 |  |  | $ | 686 |  |  | $ | 25,504 |  |  | $ | 581 |  |  | $ | 26,085 |
SG&A | 11,126 |  |  | 5,312 |  |  | 16,438 |  |  | 21,529 |  |  | 37,967 |
| $ | 35,944 |  |  | $ | 5,998 |  |  | $ | 41,942 |  |  | $ | 22,110 |  |  | $ | 64,052 |
Total Realignment Charges |  |  |  |  |  |  |  |  |
COS | $ | 51,579 |  |  | $ | 2,793 |  |  | $ | 54,372 |  |  | $ | 581 |  |  | $ | 54,953 |
SG&A | 11,842 |  |  | 5,645 |  |  | 17,487 |  |  | 21,512 |  |  | 38,999 |
Total | $ | 63,421 |  |  | $ | 8,438 |  |  | $ | 71,859 |  |  | $ | 22,093 |  |  | $ | 93,952 |
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 Realignment Program:
| Three Months Ended June 30, 2022
(Amounts in thousands) | Severance |  | Contract Termination |  | Asset Write-Downs |  | Other |  | Total
COS | $ | 570 |  |  | $ | — |  |  | $ | 19 |  |  | $ | 91 |  |  | $ | 680 |
SG&A | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total | $ | 570 |  |  | $ | — |  |  | $ | 19 |  |  | $ | 91 |  |  | $ | 680 |
| Three Months Ended June 30, 2021
(Amounts in thousands) | Severance |  | Contract Termination |  | Asset Write-Downs |  | Other |  | Total
COS | $ | (154) |  |  | $ | — |  |  | $ | (849) |  |  | $ | 3,190 |  |  | $ | 2,187 |
SG&A | 168 |  |  | — |  |  | — |  |  | 499 |  |  | 667 |
Total | $ | 14 |  |  | $ | — |  |  | $ | (849) |  |  | $ | 3,689 |  |  | $ | 2,854 |
| Six Months Ended June 30, 2022
(Amounts in thousands) | Severance |  | Contract Termination |  | Asset Write-Downs |  | Other |  | Total
COS | $ | 568 |  |  | $ | — |  |  | $ | 259 |  |  | $ | 129 |  |  | $ | 956 |
SG&A | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total | $ | 568 |  |  | $ | — |  |  | $ | 259 |  |  | $ | 129 |  |  | $ | 956 |
| Six Months Ended June 30, 2021
(Amounts in thousands) | Severance |  | Contract Termination |  | Asset Write-Downs |  | Other |  | Total
COS | $ | 1,219 |  |  | $ | — |  |  | $ | 1,341 |  |  | $ | 3,953 |  |  | $ | 6,513 |
SG&A | 168 |  |  | — |  |  | — |  |  | 490 |  |  | 658 |
Total | $ | 1,387 |  |  | $ | — |  |  | $ | 1,341 |  |  | $ | 4,443 |  |  | $ | 7,171 |
The following is a summary of total inception to date restructuring charges, net of adjustments, related to our Realignment Program:
| Inception to Date
(Amounts in thousands) | Severance |  | Contract Termination |  | Asset Write-Downs |  | Other |  | Total
COS | $ | 16,772 |  |  | $ | 86 |  |  | $ | 4,354 |  |  | $ | 7,656 |  |  | $ | 28,868 |
SG&A | 251 |  |  | — |  |  | 14 |  |  | 767 |  |  | 1,032 |
Total | $ | 17,023 |  |  | $ | 86 |  |  | $ | 4,368 |  |  | $ | 8,423 |  |  | $ | 29,900 |
The following represents the activity, primarily severance charges from reductions in force, related to the restructuring reserves for the six months ended June 30, 2022 and 2021:
(Amounts in thousands) | 2022 |  | 2021
Balance at January 1 | $ | 4,868 |  |  | $ | 18,255 |
Charges, net of adjustments | 696 |  |  | 5,830 |
Cash expenditures | (2,082) |  |  | (14,388) |
Other non-cash adjustments, including currency | (310) |  |  | (461) |
Balance at June 30 | $ | 3,172 |  |  | $ | 9,236 |

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