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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 545,678 $ 434,971
Accounts receivable, net 881,869 868,632
Contract assets, net 280,228 233,457
Inventories, net 879,937 803,198
Prepaid expenses and other 116,065 110,714
Total current assets 2,703,777 2,450,972
Property, plant and equipment, net 506,158 500,945
Operating lease right-of-use assets, net 156,430 174,980
Goodwill 1,182,225 1,168,124
Deferred taxes 218,358 149,290
Other intangible assets, net 122,248 134,503
Other assets, net 219,523 211,820
Total assets 5,108,719 4,790,634
Current liabilities:    
Accounts payable 547,824 476,747
Accrued liabilities 504,430 427,578
Contract liabilities 287,697 256,963
Debt due within one year 66,243 49,335
Operating lease liabilities 32,382 32,528
Total current liabilities 1,438,576 1,243,151
Long-term debt due after one year 1,167,307 1,224,151
Operating lease liabilities 138,665 155,196
Retirement obligations and other liabilities 389,120 309,529
Commitments and contingencies (See Note 15)
Shareholders’ equity:    
Common shares, $1.25 par value, Shares authorized - 305,000, Shares issued - 176,793 and 176,793, respectively 220,991 220,991
Capital in excess of par value 506,525 507,484
Retained earnings 3,854,717 3,774,209
Treasury shares, at cost — 45,885 and 46,359 shares, respectively (2,014,474) (2,036,882)
Deferred compensation obligation 7,942 6,979
Accumulated other comprehensive loss (639,601) (647,788)
Total Flowserve Corporation shareholders’ equity 1,936,100 1,824,993
Noncontrolling interests 38,951 33,614
Total equity 1,975,051 1,858,607
Total liabilities and equity $ 5,108,719 $ 4,790,634