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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 611,745 $ 545,678
Accounts receivable, net of allowance for expected credit losses of $80,757 and $80,013, respectively 971,261 881,869
Contract assets, net of allowance for expected credit losses of $4,808 and $4,993, respectively 299,421 280,228
Inventories 862,477 879,937
Prepaid expenses and other 124,883 116,065
Total current assets 2,869,787 2,703,777
Property, plant and equipment, net of accumulated depreciation of $1,184,833 and $1,158,451, respectively 502,430 506,158
Operating lease right-of-use assets, net 170,395 156,430
Goodwill 1,188,609 1,182,225
Deferred taxes 216,241 218,358
Other intangible assets, net 117,999 122,248
Other assets, net of allowance for expected credit losses of $65,989 and $66,864, respectively 209,097 219,523
Total assets 5,274,558 5,108,719
Current liabilities:    
Accounts payable 572,776 547,824
Accrued liabilities 472,454 504,430
Contract liabilities 294,222 287,697
Debt due within one year 66,919 66,243
Operating lease liabilities 33,995 32,382
Total current liabilities 1,440,366 1,438,576
Long-term debt due after one year 1,172,771 1,167,307
Operating lease liabilities 158,216 138,665
Retirement obligations and other liabilities 397,684 389,120
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 496,673 506,525
Retained earnings 3,976,016 3,854,717
Treasury shares, at cost – 45,701 and 45,885 shares, respectively (2,008,361) (2,014,474)
Deferred compensation obligation 8,076 7,942
Accumulated other comprehensive loss (639,100) (639,601)
Total Flowserve Corporation shareholders’ equity 2,054,295 1,936,100
Noncontrolling interests 51,226 38,951
Total equity 2,105,521 1,975,051
Total liabilities and equity $ 5,274,558 $ 5,108,719