Significant Accounting Policies and Accounting Developments (Tables)

12 Months Ended

Dec. 31, 2014

Accounting Policies [Abstract]

Schedule of Estimated Useful Lives of Assets

Generally, the estimated useful lives of the assets are:

Buildings and improvements	10 to 40 years
Machinery, equipment and tooling	3 to 14 years
Software, furniture and fixtures and other	3 to 7 years

Calculation of Net Earnings per Common Share and Weighted Average Common Share Outstanding

Earnings per weighted average common share outstanding was calculated as follows:

	Year Ended December 31,
	2014		2013		2012
	(Amounts in thousands, except per share data)
Net earnings of Flowserve Corporation	$	518,824	$	485,530	$	448,339
Dividends on restricted shares not expected to vest	12		13		15
Earnings attributable to common and participating shareholders	$	518,836	$	485,543	$	448,354
Weighted average shares:
Common stock	136,334		140,901		156,057
Participating securities	578		698		792
Denominator for basic earnings per common share	136,912		141,599		156,849
Effect of potentially dilutive securities	931		830		1,121
Denominator for diluted earnings per common share	137,843		142,429		157,970
Net earnings per share attributable to Flowserve Corporation common shareholders:
Basic	$	3.79	$	3.43	$	2.86
Diluted	3.76		3.41		2.84