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Earnings Per Share | 12 Months Ended
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Dec. 31, 2023
Earnings Per Share [Abstract] |
Earnings Per Share | EARNINGS PER SHARE The following is a reconciliation of net earnings of Flowserve Corporation and weighted average shares for calculating net earnings per common share. Earnings per weighted average common share outstanding was calculated as follows:
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
| (Amounts in thousands, except per share data)
Net earnings of Flowserve Corporation | $ | 186,743 |  |  | $ | 188,689 |  |  | $ | 125,949 |
Dividends on restricted shares not expected to vest | — |  |  | — |  |  | — |
Earnings attributable to common and participating shareholders | $ | 186,743 |  |  | $ | 188,689 |  |  | $ | 125,949 |
Weighted average shares: |  |  |  |  |
Common stock | 131,074 |  |  | 130,591 |  |  | 130,277 |
Participating securities | 43 |  |  | 39 |  |  | 28 |
Denominator for basic earnings per common share | 131,117 |  |  | 130,630 |  |  | 130,305 |
Effect of potentially dilutive securities | 814 |  |  | 685 |  |  | 552 |
Denominator for diluted earnings per common share | 131,931 |  |  | 131,315 |  |  | 130,857 |
Net earnings per share attributable to Flowserve Corporation common shareholders: |  |  |  |  |
Basic | $ | 1.42 |  |  | $ | 1.44 |  |  | $ | 0.97 |
Diluted | 1.42 |  |  | 1.44 |  |  | 0.96 |
Diluted earnings per share is based upon the weighted average number of shares as determined for basic earnings per share plus shares potentially issuable in conjunction with stock options, restricted shares, restricted share units and performance share units. For the years ended December 31, 2023, 2022 and 2021, unvested restricted shares of 118,781, 118,334 and 156,578, respectively, were excluded from the computation of diluted earnings per share because the effect of their exercise would be anti-dilutive.

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