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v3.22.2.2

Realignment Programs (Tables) | 9 Months Ended
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Sep. 30, 2022
Restructuring and Related Activities [Abstract] |
Restructuring and Related Costs | The following table presents the above impacts of the Russia pre-tax charge:
|  |  | Nine Months Ended September 30, 2022
(Amounts in thousands) |  |  |  |  |  |  | Flowserve Pump Division |  | Flow Control Division |  | Consolidated Total
Sales |  |  |  |  |  |  | $ | (5,429) |  |  | $ | (2) |  |  | $ | (5,431) |
Cost of sales ("COS") |  |  |  |  |  |  | 3,510 |  |  | 1,112 |  |  | 4,622 |
Gross loss |  |  |  |  |  |  | (8,939) |  |  | (1,114) |  |  | (10,053) |
Selling, general and administrative expense ("SG&A") |  |  |  |  |  |  | 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 September 30, 2022
(Amounts in thousands) | FPD |  | FCD |  | Subtotal–Reportable Segments |  | All Other |  | Consolidated Total
Realignment Charges |  |  |  |  |  |  |  |  |
Restructuring Charges |  |  |  |  |  |  |  |  |
COS | $ | (456) |  |  | $ | 26 |  |  | $ | (430) |  |  | $ | — |  |  | $ | (430) |
SG&A | — |  |  | 2 |  |  | 2 |  |  | — |  |  | 2 |
| $ | (456) |  |  | $ | 28 |  |  | $ | (428) |  |  | $ | — |  |  | $ | (428) |
Non-Restructuring Charges |  |  |  |  |  |  |  |  |
COS | $ | 39 |  |  | $ | (4) |  |  | $ | 35 |  |  | $ | — |  |  | $ | 35 |
SG&A | 74 |  |  | 5 |  |  | 79 |  |  | 18 |  |  | 97 |
| $ | 113 |  |  | $ | 1 |  |  | $ | 114 |  |  | $ | 18 |  |  | $ | 132 |
Total Realignment Charges |  |  |  |  |  |  |  |  |
COS | $ | (417) |  |  | $ | 22 |  |  | $ | (395) |  |  | $ | — |  |  | $ | (395) |
SG&A | 74 |  |  | 7 |  |  | 81 |  |  | 18 |  |  | 99 |
Total | $ | (343) |  |  | $ | 29 |  |  | $ | (314) |  |  | $ | 18 |  |  | $ | (296) |
| 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 |
| Nine Months Ended September 30, 2022
(Amounts in thousands) | FPD |  | FCD |  | Subtotal–Reportable Segments |  | All Other |  | Consolidated Total
Realignment Charges |  |  |  |  |  |  |  |  |
Restructuring Charges |  |  |  |  |  |  |  |  |
COS | $ | 430 |  |  | $ | 97 |  |  | $ | 527 |  |  | $ | — |  |  | $ | 527 |
SG&A | — |  |  | 2 |  |  | 2 |  |  | — |  |  | 2 |
| $ | 430 |  |  | $ | 99 |  |  | $ | 529 |  |  | $ | — |  |  | $ | 529 |
Non-Restructuring Charges |  |  |  |  |  |  |  |  |
COS | $ | (550) |  |  | $ | (41) |  |  | $ | (591) |  |  | $ | (61) |  |  | $ | (652) |
SG&A | 150 |  |  | 55 |  |  | 205 |  |  | (248) |  |  | (43) |
| $ | (400) |  |  | $ | 14 |  |  | $ | (386) |  |  | $ | (309) |  |  | $ | (695) |
Total Realignment Charges |  |  |  |  |  |  |  |  |
COS | $ | (120) |  |  | $ | 56 |  |  | $ | (64) |  |  | $ | (61) |  |  | $ | (125) |
SG&A | 150 |  |  | 57 |  |  | 207 |  |  | (248) |  |  | (41) |
Total | $ | 30 |  |  | $ | 113 |  |  | $ | 143 |  |  | $ | (309) |  |  | $ | (166) |
| 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 |
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 | $ | 26,306 |  |  | $ | 2,133 |  |  | $ | 28,439 |  |  | $ | — |  |  | $ | 28,439 |
SG&A | 716 |  |  | 335 |  |  | 1,051 |  |  | (17) |  |  | 1,034 |
| $ | 27,022 |  |  | $ | 2,468 |  |  | $ | 29,490 |  |  | $ | (17) |  |  | $ | 29,473 |
Non-Restructuring Charges |  |  |  |  |  |  |  |  |
COS | $ | 24,858 |  |  | $ | 681 |  |  | $ | 25,539 |  |  | $ | 581 |  |  | $ | 26,120 |
SG&A | 11,199 |  |  | 5,317 |  |  | 16,516 |  |  | 21,547 |  |  | 38,063 |
| $ | 36,057 |  |  | $ | 5,998 |  |  | $ | 42,055 |  |  | $ | 22,128 |  |  | $ | 64,183 |
Total Realignment Charges |  |  |  |  |  |  |  |  |
COS | $ | 51,164 |  |  | $ | 2,814 |  |  | $ | 53,978 |  |  | $ | 581 |  |  | $ | 54,559 |
SG&A | 11,915 |  |  | 5,652 |  |  | 17,567 |  |  | 21,530 |  |  | 39,097 |
Total | $ | 63,079 |  |  | $ | 8,466 |  |  | $ | 71,545 |  |  | $ | 22,111 |  |  | $ | 93,656 |
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 September 30, 2022
(Amounts in thousands) | Severance |  | Contract Termination |  | Asset Write-Downs |  | Other |  | Total
COS | $ | (309) |  |  | $ | — |  |  | $ | (89) |  |  | $ | (32) |  |  | $ | (430) |
SG&A | 12 |  |  | — |  |  | — |  |  | (10) |  |  | 2 |
Total | $ | (297) |  |  | $ | — |  |  | $ | (89) |  |  | $ | (42) |  |  | $ | (428) |
| 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 |
| Nine Months Ended September 30, 2022
(Amounts in thousands) | Severance |  | Contract Termination |  | Asset Write-Downs |  | Other |  | Total
COS | $ | 260 |  |  | $ | — |  |  | $ | 170 |  |  | $ | 97 |  |  | $ | 527 |
SG&A | 12 |  |  | — |  |  | — |  |  | (10) |  |  | 2 |
Total | $ | 272 |  |  | $ | — |  |  | $ | 170 |  |  | $ | 87 |  |  | $ | 529 |
| 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 |
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 | $ | 16,464 |  |  | $ | 86 |  |  | $ | 4,265 |  |  | $ | 7,624 |  |  | $ | 28,439 |
SG&A | 263 |  |  | — |  |  | 14 |  |  | 757 |  |  | 1,034 |
Total | $ | 16,727 |  |  | $ | 86 |  |  | $ | 4,279 |  |  | $ | 8,381 |  |  | $ | 29,473 |
The following represents the activity, primarily severance charges from reductions in force, related to the restructuring reserves for the nine months ended September 30, 2022 and 2021:
(Amounts in thousands) | 2022 |  | 2021
Balance at January 1 | $ | 4,868 |  |  | $ | 18,255 |
Charges, net of adjustments | 359 |  |  | 6,423 |
Cash expenditures | (2,311) |  |  | (16,999) |
Other non-cash adjustments, including currency | (1,431) |  |  | (1,039) |
Balance at September 30 | $ | 1,485 |  |  | $ | 6,640 |

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