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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 422,837 $ 434,971
Accounts receivable, net of allowance for expected credit losses of $84,358 and $83,062, respectively 887,867 868,632
Contract assets, net of allowance for expected credit losses of $4,420 and $5,819, respectively 227,636 233,457
Inventories, net 914,288 803,198
Prepaid expenses and other 126,756 110,714
Total current assets 2,579,384 2,450,972
Property, plant and equipment, net of accumulated depreciation of $1,139,149 and $1,172,957, respectively 500,075 500,945
Operating lease right-of-use assets, net 164,391 174,980
Goodwill 1,177,131 1,168,124
Deferred taxes 158,835 149,290
Other intangible assets, net 125,216 134,503
Other assets, net of allowance for expected credit losses of $66,857 and $66,377, respectively 214,983 211,820
Total assets 4,920,015 4,790,634
Current liabilities:    
Accounts payable 492,623 476,747
Accrued liabilities 441,520 427,578
Contract liabilities 269,725 256,963
Debt due within one year 55,781 49,335
Operating lease liabilities 32,440 32,528
Total current liabilities 1,292,089 1,243,151
Long-term debt due after one year 1,245,253 1,224,151
Operating lease liabilities 146,255 155,196
Retirement obligations and other liabilities 314,408 309,529
Contingencies (See Note 10)
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 495,281 507,484
Retained earnings 3,798,984 3,774,209
Treasury shares, at cost – 45,894 and 46,359 shares, respectively (2,014,932) (2,036,882)
Deferred compensation obligation 7,815 6,979
Accumulated other comprehensive loss (623,687) (647,788)
Total Flowserve Corporation shareholders’ equity 1,884,452 1,824,993
Noncontrolling interests 37,558 33,614
Total equity 1,922,010 1,858,607
Total liabilities and equity $ 4,920,015 $ 4,790,634