Earnings Per Share

12 Months Ended

Dec. 31, 2024

EARNINGS PER SHARE

The following is a reconciliation of net earnings of Flowserve Corporation and weighted average shares for calculating net earnings per common share. Earnings per weighted average common share outstanding was calculated as follows:


	Year Ended December 31,
	2024		2023		2022
	(Amounts in thousands, except per share data)
Net earnings of Flowserve Corporation	$	282,759	$	186,743	$	188,689
Dividends on restricted shares not expected to vest	—		—		—
Earnings attributable to common and participating shareholders	$	282,759	$	186,743	$	188,689
Weighted average shares:
Common stock	131,450		131,074		130,591
Participating securities	38		43		39
Denominator for basic earnings per common share	131,488		131,117		130,630
Effect of potentially dilutive securities	868		814		685
Denominator for diluted earnings per common share	132,356		131,931		131,315
Net earnings per share attributable to Flowserve Corporation common shareholders:
Basic	$	2.15	$	1.42	$	1.44
Diluted	2.14		1.42		1.44

Diluted earnings per share above is based upon the weighted average number of shares as determined for basic earnings per share plus shares potentially issuable in conjunction with stock options and Restricted Shares.

For the years ended December 31, 2024, 2023 and 2022, unvested restricted shares of 12,840, 118,781 and 118,334, respectively, were excluded from the computation of diluted earnings per share because the effect of their exercise would be anti-dilutive.