Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 458,345	$ 658,452
Accounts receivable, net of allowance for expected credit losses of $78,776 and $74,336, respectively	735,895	739,210
Contract assets, net of allowance for expected credit losses of $3,704 and $2,393, respectively	197,128	195,598
Inventories, net	748,920	678,287
Prepaid expenses and other	140,639	117,130
Total current assets	2,280,927	2,388,677
Property, plant and equipment, net of accumulated depreciation of $1,150,876 and $1,191,823, respectively	487,299	515,927
Operating lease right-of-use assets, net	178,974	193,863
Goodwill	1,162,514	1,196,479
Deferred taxes	34,582	44,049
Other intangible assets, net	139,786	152,463
Other assets, net of allowance for expected credit losses of $67,968 and $67,696, respectively	298,650	258,310
Total assets	4,582,732	4,749,768
Current liabilities:
Accounts payable	433,508	410,062
Accrued liabilities	374,575	445,092
Contract liabilities	205,175	202,965
Debt due within one year	46,306	41,058
Operating lease liabilities	32,153	32,628
Total current liabilities	1,091,717	1,131,805
Long-term debt due after one year	1,241,636	1,261,770
Operating lease liabilities	153,580	166,786
Retirement obligations and other liabilities	341,906	352,062
Commitments and 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	500,013	506,386
Retained earnings	3,666,935	3,691,023
Treasury shares, at cost – 46,377 and 46,794 shares, respectively	(2,037,839)	(2,057,706)
Deferred compensation obligation	6,921	7,214
Accumulated other comprehensive loss	(635,618)	(563,589)
Total Flowserve Corporation shareholders’ equity	1,721,403	1,804,319
Noncontrolling interests	32,490	33,026
Total equity	1,753,893	1,837,345
Total liabilities and equity	$ 4,582,732	$ 4,749,768