Condensed Consolidated Balance Sheets - USD ($) shares in Thousands, $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 531,981	$ 545,678
Accounts receivable, net of allowance for expected credit losses of $78,305 and $80,013, respectively	914,357	881,869
Contract assets, net of allowance for expected credit losses of $4,986 and $4,993, respectively	287,058	280,228
Inventories	883,341	879,937
Prepaid expenses and other	149,840	116,065
Total current assets	2,766,577	2,703,777
Property, plant and equipment, net of accumulated depreciation of $1,162,548 and $1,158,451, respectively	499,499	506,158
Operating lease right-of-use assets, net	163,183	156,430
Goodwill	1,173,368	1,182,225
Deferred taxes	215,216	218,358
Other intangible assets, net	119,355	122,248
Other assets, net of allowance for expected credit losses of $66,357 and $66,864, respectively	212,727	219,523
Total assets	5,149,925	5,108,719
Current liabilities:
Accounts payable	549,515	547,824
Accrued liabilities	547,382	504,430
Contract liabilities	279,216	287,697
Debt due within one year	66,428	66,243
Operating lease liabilities	31,635	32,382
Total current liabilities	1,474,176	1,438,576
Long-term debt due after one year	1,152,336	1,167,307
Operating lease liabilities	144,740	138,665
Retirement obligations and other liabilities	382,461	389,120
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	483,963	506,525
Retained earnings	3,900,922	3,854,717
Treasury shares, at cost – 45,372 and 45,885 shares, respectively	(1,992,404)	(2,014,474)
Deferred compensation obligation	6,767	7,942
Accumulated other comprehensive loss	(666,259)	(639,601)
Total Flowserve Corporation shareholders’ equity	1,953,980	1,936,100
Noncontrolling interests	42,232	38,951
Total equity	1,996,212	1,975,051
Total liabilities and equity	$ 5,149,925	$ 5,108,719
Common shares, shares issued (in shares)	176,793	176,793

For a classified balance sheet, the carrying amount as of the balance sheet date of the portion of the obligations recognized for the various post employment and postretirement benefits provided to former or inactive employees, their beneficiaries, and covered dependents that is payable after one year (or beyond the operating cycle if longer. Aggregate carrying amount, as of the balance sheet date, of noncurrent obligations not separately disclosed in the balance sheet due to materiality considerations. Noncurrent liabilities are expected to be paid after one year (or the normal operating cycle, if longer).

No definition available.