Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 658,452	$ 1,095,274
Accounts receivable, net	739,210	753,462
Contract assets, net	195,598	277,734
Inventories, net	678,287	667,228
Prepaid expenses and other	117,130	110,635
Total current assets	2,388,677	2,904,333
Property, plant and equipment, net	515,927	556,873
Operating lease right-of-use assets, net	193,863	208,125
Goodwill	1,196,479	1,224,886
Deferred taxes	44,049	30,538
Other intangible assets, net	152,463	168,496
Other assets, net	258,310	221,426
Total assets	4,749,768	5,314,677
Current liabilities:
Accounts payable	410,062	440,199
Accrued liabilities	445,092	463,222
Contract liabilities	202,965	194,227
Debt due within one year	41,058	8,995
Operating lease liabilities	32,628	34,990
Total current liabilities	1,131,805	1,141,633
Long-term debt due after one year	1,261,770	1,717,911
Operating lease liabilities	166,786	176,246
Retirement obligations and other liabilities	352,062	517,566
Commitments and contingencies (See Note 16)
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	506,386	502,227
Retained earnings	3,691,023	3,670,543
Treasury shares, at cost — 46,794 and 46,768 shares, respectively	(2,057,706)	(2,059,309)
Deferred compensation obligation	7,214	6,164
Accumulated other comprehensive loss	(563,589)	(609,625)
Total Flowserve Corporation shareholders’ equity	1,804,319	1,730,991
Noncontrolling interests	33,026	30,330
Total equity	1,837,345	1,761,321
Total liabilities and equity	$ 4,749,768	$ 5,314,677