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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 480,458 $ 434,971
Accounts receivable, net of allowance for expected credit losses of $83,513 and $83,062, respectively 868,855 868,632
Contract assets, net of allowance for expected credit losses of $4,867 and $5,819, respectively 245,133 233,457
Inventories, net 916,107 803,198
Prepaid expenses and other 127,972 110,714
Total current assets 2,638,525 2,450,972
Property, plant and equipment, net of accumulated depreciation of $1,133,913 and $1,172,957, respectively 492,323 500,945
Operating lease right-of-use assets, net 156,784 174,980
Goodwill 1,164,388 1,168,124
Deferred taxes 171,387 149,290
Other intangible assets, net 122,549 134,503
Other assets, net of allowance for expected credit losses of $66,879 and $66,377, respectively 219,257 211,820
Total assets 4,965,213 4,790,634
Current liabilities:    
Accounts payable 481,337 476,747
Accrued liabilities 461,841 427,578
Contract liabilities 270,725 256,963
Debt due within one year 61,213 49,335
Operating lease liabilities 31,699 32,528
Total current liabilities 1,306,815 1,243,151
Long-term debt due after one year 1,266,423 1,224,151
Operating lease liabilities 138,907 155,196
Retirement obligations and other liabilities 339,777 309,529
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 501,378 507,484
Retained earnings 3,818,392 3,774,209
Treasury shares, at cost – 45,893 and 46,359 shares, respectively (2,014,879) (2,036,882)
Deferred compensation obligation 7,878 6,979
Accumulated other comprehensive loss (659,653) (647,788)
Total Flowserve Corporation shareholders’ equity 1,874,107 1,824,993
Noncontrolling interests 39,184 33,614
Total equity 1,913,291 1,858,607
Total liabilities and equity $ 4,965,213 $ 4,790,634