Significant Accounting Policies and Accounting Developments (Tables)

12 Months Ended

Dec. 31, 2015

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

The following is a reconciliation of net earnings of Flowserve Corporation and weighted average shares for calculating basic net earnings per common share.

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



	Year Ended December 31,
	2015		2014		2013
	(Amounts in thousands, except per share data)
Net earnings of Flowserve Corporation	$	267,669	$	518,824	$	485,530
Dividends on restricted shares not expected to vest	12		12		13
Earnings attributable to common and participating shareholders	$	267,681	$	518,836	$	485,543
Weighted average shares:
Common stock	132,567		136,334		140,901
Participating securities	507		578		698
Denominator for basic earnings per common share	133,074		136,912		141,599
Effect of potentially dilutive securities	737		931		830
Denominator for diluted earnings per common share	133,811		137,843		142,429
Net earnings per share attributable to Flowserve Corporation common shareholders:
Basic	$	2.01	$	3.79	$	3.43
Diluted	2.00		3.76		3.41