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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 515,083 $ 545,678
Accounts receivable, net of allowance for expected credit losses of $80,591 and $80,013, respectively 1,031,656 881,869
Contract assets, net of allowance for expected credit losses of $4,815 and $4,993, respectively 287,676 280,228
Inventories 851,305 879,937
Prepaid expenses and other 130,095 116,065
Total current assets 2,815,815 2,703,777
Property, plant and equipment, net of accumulated depreciation of $1,156,824 and $1,158,451, respectively 491,864 506,158
Operating lease right-of-use assets, net 157,797 156,430
Goodwill 1,170,555 1,182,225
Deferred taxes 214,930 218,358
Other intangible assets, net 117,236 122,248
Other assets, net of allowance for expected credit losses of $65,895 and $66,864, respectively 196,287 219,523
Total assets 5,164,484 5,108,719
Current liabilities:    
Accounts payable 557,145 547,824
Accrued liabilities 457,697 504,430
Contract liabilities 293,354 287,697
Debt due within one year 66,439 66,243
Operating lease liabilities 31,705 32,382
Total current liabilities 1,406,340 1,438,576
Long-term debt due after one year 1,211,611 1,167,307
Operating lease liabilities 145,016 138,665
Retirement obligations and other liabilities 385,193 389,120
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 489,786 506,525
Retained earnings 3,945,577 3,854,717
Treasury shares, at cost – 45,620 and 45,885 shares, respectively (2,004,494) (2,014,474)
Deferred compensation obligation 7,979 7,942
Accumulated other comprehensive loss (689,775) (639,601)
Total Flowserve Corporation shareholders’ equity 1,970,064 1,936,100
Noncontrolling interests 46,260 38,951
Total equity 2,016,324 1,975,051
Total liabilities and equity $ 5,164,484 $ 5,108,719