Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 366,444	$ 450,350
Accounts receivable, net	988,391	1,082,447
Inventories, net	995,565	995,564
Deferred taxes	155,982	158,912
Prepaid expenses and other	125,410	106,890
Total current assets	2,631,792	2,794,163
Property, plant and equipment, net	758,427	693,881
Goodwill	1,223,986	1,067,255
Deferred taxes	26,264	31,419
Other intangible assets, net	228,777	146,337
Other assets, net	234,604	234,965
Total assets	5,103,850	4,968,020
Current liabilities:
Accounts payable	491,378	611,715
Accrued liabilities	796,764	794,072
Debt due within one year	60,434	53,131
Deferred taxes	11,386	12,957
Total current liabilities	1,359,962	1,471,875
Long-term debt due after one year	1,570,836	1,101,791
Retirement obligations and other liabilities	$ 489,319	$ 452,511
Commitments and contingencies (See Note 12)
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	494,961	495,600
Retained earnings	3,587,120	3,415,738
Treasury shares, at cost — 47,703 and 42,444 shares, respectively	(2,106,785)	(1,830,919)
Deferred compensation obligation	10,233	10,558
Accumulated other comprehensive loss	(540,043)	(380,406)
Total Flowserve Corporation shareholders’ equity	1,666,477	1,931,562
Noncontrolling interests	17,256	10,281
Total equity	1,683,733	1,941,843
Total liabilities and equity	$ 5,103,850	$ 4,968,020