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Realignment and Transformation Programs
 12 Months Ended
Dec. 31, 2025
Restructuring and Related Activities [Abstract]  
Realignment and Transformation Programs REALIGNMENT PROGRAMS
In the first quarter of 2023, we identified and initiated certain realignment activities concurrent with the consolidation of our FPD aftermarket and pump operations into a single operating model. This consolidated operating model was designed to better align our go-to-market strategy with our product offerings, enable end-to-end lifecycle responsibility and accountability, and facilitate more efficient operations. During 2023, we also initiated certain product and portfolio optimization activities. Additionally, we committed to an estimated $50 million in cost reduction efforts to begin in 2023. Collectively, the above realignment activities are referred to as the "2023 Realignment Programs." The activities of the 2023 Realignment Programs were identified and implemented in phases throughout 2023 and 2024 and are substantially completed.
In the fourth quarter of 2024, we launched the complexity reduction ("CORE") program within the portfolio excellence category of the Flowserve Business System. We deployed the Flowserve Business System to guide the enterprise on incorporating best in class operational practices within five categories: people excellence; operational excellence; portfolio excellence; commercial excellence; and innovation excellence. The CORE program focuses on product rationalization and continuous improvement of our overall product portfolio. During 2025, we also initiated certain other portfolio and footprint optimization activities. These optimization activities together with the CORE program, are referred to as the "2025 Realignment Programs," and collectively with the 2023 Realignment Programs are referred to as the "Realignment Programs." We currently anticipate a total investment in the 2025 Realignment Programs that have been evaluated and initiated of approximately $93 million of which $17 million is estimated to be non-cash. Of this anticipated total investment, approximately $50 million relates to FPD, $40 million relates to FCD and $3 million relates to corporate activities. We expect the allocation between COS and SG&A to be consistent with the historical allocation of costs incurred. We are evaluating the annualized cost savings expected to be achieved upon completion of the activities of the 2025 Realignment Programs that have been identified and initiated to date. Actual savings could vary from expected savings.
The realignment activities consist of restructuring and non-restructuring charges. Restructuring charges represent costs associated with the relocation of certain business activities and facility closures and include related severance costs. Non-restructuring charges are primarily employee severance associated with workforce reductions and professional service fees. Expenses are primarily reported in COS or SG&A, as applicable, in our consolidated statements of income. There are certain remaining realignment activities that are currently being evaluated, but have not yet been approved and therefore are not included in the above anticipated total investment.
Generally, the aforementioned charges will be paid in cash, except for asset write-downs, which are non-cash charges. The following is a summary of total charges, net of adjustments, incurred related to our realignment activities:
December 31, 2025
(Amounts in thousands)FPDFCDSubtotal - Reportable SegmentsAll OtherConsolidated Total
Restructuring Charges
COS$27,780 $15,632 $43,412 $— $43,412 
SG&A2,519 (2,802)(283)— (283)
$30,299 $12,830 $43,129 $— $43,129 
Non-Restructuring Charges
COS$2,834 $8,489 $11,323 $(75)$11,248 
SG&A1,413 258 1,671 2,207 3,878 
$4,247 $8,747 $12,994 $2,132 $15,126 
Total Realignment Charges
COS$30,614 $24,121 $54,735 $(75)$54,660 
SG&A (1)3,932 (2,544)1,388 2,207 3,595 
Total$34,546 $21,577 $56,123 $2,132 $58,255 
__________________________________
(1) Includes the immaterial reversal of previously recognized realignment charges associated with our 2023 Realignment Programs and an immaterial non-cash gain recognized on the early cancellation of certain lease agreements and the resulting write-off of the remaining operating lease liabilities associated with our 2023 Realignment Programs, which were recognized in the first and second quarters of 2025, respectively. Our 2023 Realignment Programs are substantially completed. Also includes within FPD a gain of $6.9 million from the sale of a pump product line in the fourth quarter of 2025 associated with our 2025 Realignment Programs.
December 31, 2024
(Amounts in thousands)FPDFCDSubtotal - Reportable SegmentsAll OtherConsolidated Total
Restructuring Charges
COS$24,113 $(1,364)$22,749 $— $22,749 
SG&A1,306 2,599 3,905 (28)3,877 
Loss on sale of business (2)— 12,981 12,981 — 12,981 
$25,419 $14,216 $39,635 $(28)$39,607 
Non-Restructuring Charges
COS$6,614 $2,440 $9,054 $(228)$8,826 
SG&A(228)497 269 794 1,063 
$6,386 $2,937 $9,323 $566 $9,889 
Total Realignment Charges
COS$30,727 $1,076 $31,803 $(228)$31,575 
SG&A1,078 3,096 4,174 766 4,940 
Loss on sale of business (2)— 12,981 12,981 — 12,981 
Total$31,805 $17,153 $48,958 $538 $49,496 
__________________________________
(2) Loss on sale of business related to NAF AB control valves business as described within Note 1, "Significant Accounting Policies and Accounting Developments," to our consolidated financial statements included in this Annual Report.
December 31, 2023
(Amounts in thousands)FPDFCDSubtotal - Reportable SegmentsAll OtherConsolidated Total
Restructuring Charges
COS$2,962 $6,405 $9,367 $66 $9,433 
SG&A50 9,777 9,827 — 9,827 
$3,012 $16,182 $19,194 $66 $19,260 
Non-Restructuring Charges
COS$7,835 $4,171 $12,006 $(427)$11,579 
SG&A14,483 1,616 16,099 19,099 35,198 
$22,318 $5,787 $28,105 $18,672 $46,777 
Total Realignment Charges
COS$10,797 $10,576 $21,373 $(361)$21,012 
SG&A14,533 11,393 25,926 19,099 45,025 
Total$25,330 $21,969 $47,299 $18,738 $66,037 
    
The following is a summary of total inception to date charges, net of adjustments, related to the 2025 Realignment Programs:
Inception to Date
(Amounts in thousands)FPDFCDSubtotal - Reportable SegmentsAll OtherConsolidated Total
Restructuring Charges
COS$27,780 $15,632 $43,412 $— $43,412 
SG&A2,519 (2,802)(283)— (283)
$30,299 $12,830 $43,129 $— $43,129 
Non-Restructuring Charges
COS$5,776 $8,489 $14,265 $(75)$14,190 
SG&A1,413 258 1,671 2,207 3,878 
$7,189 $8,747 $15,936 $2,132 $18,068 
Total Realignment Charges
COS$33,556 $24,121 $57,677 $(75)$57,602 
SG&A (1)3,932 (2,544)1,388 2,207 3,595 
Total$37,488 $21,577 $59,065 $2,132 $61,197 
__________________________________
(1) Includes the immaterial reversal of previously recognized realignment charges associated with our 2023 Realignment Programs and an immaterial non-cash gain recognized on the early cancellation of certain lease agreements and the resulting write-off of the remaining operating lease liabilities associated with our 2023 Realignment Programs, which were recognized in the first and second quarters of 2025, respectively. Our 2023 Realignment Programs are substantially completed. Also includes within FPD a gain of $6.9 million from the sale of a pump product line in the fourth quarter of 2025 associated with our 2025 Realignment Programs.
The following is a summary of total inception to date charges, net of adjustments, related to the 2023 Realignment Programs:
Inception to Date
(Amounts in thousands)FPDFCDSubtotal - Reportable SegmentsAll OtherConsolidated Total
Restructuring Charges
COS$27,076 $5,041 $32,117 $66 $32,183 
SG&A1,355 12,376 13,731 (28)13,703 
Loss on sale of business (2)— 12,981 12,981 — 12,981 
$28,431 $30,398 $58,829 $38 $58,867 
Non-Restructuring Charges
COS$11,506 $6,612 $18,118 $(655)$17,463 
SG&A14,256 2,112 16,368 19,893 $36,261 
$25,762 $8,724 $34,486 $19,238 $53,724 
Total Realignment Charges
COS$38,582 $11,653 $50,235 $(589)$49,646 
SG&A15,611 14,488 30,099 19,865 $49,964 
Loss on sale of business (2)— 12,981 12,981 — $12,981 
Total$54,193 $39,122 $93,315 $19,276 $112,591 
__________________________________
(2) Loss on sale of business related to NAF AB control valves business as described within Note 1, "Significant Accounting Policies and Accounting Developments," to our consolidated financial statements included in this Annual Report.
Restructuring charges represent costs associated with the relocation or reorganization of certain business activities and facility closures and include costs related to employee severance at closed facilities, contract termination costs, asset write-downs and other costs. Severance costs primarily include costs associated with involuntary termination benefits. Contract termination costs include costs related to the termination of operating leases or other contract termination costs. Asset write-downs include accelerated depreciation or impairment of fixed assets, accelerated amortization or impairment of intangible assets, divestiture of certain non-strategic assets and inventory write-downs. Other costs generally include costs related to employee relocation, asset relocation, vacant facility costs (i.e., taxes and insurance) and other charges. Restructuring charges include charges related to approved, but not yet announced, facility closures.
The following is a summary of restructuring charges, net of adjustments, for our restructuring activities:
December 31, 2025
(Amounts in thousands)SeveranceContract TerminationAsset Write-Downs (Gains)OtherTotal
COS$31,440 $— $2,523 $9,449 $43,412 
SG&A (1)2,567 (3,505)56 599 (283)
Total$34,007 $(3,505)$2,579 $10,048 $43,129 

December 31, 2024
(Amounts in thousands)SeveranceContract TerminationAsset Write-Downs (Gains)OtherTotal
COS$7,078 $— $12,861 $2,809 $22,748 
SG&A158 — 3,750 (30)3,878 
Loss on sale of business (2)— — — 12,981 12,981 
Total$7,236 $— $16,611 $15,760 $39,607 

December 31, 2023
(Amounts in thousands)SeveranceContract TerminationAsset Write-Downs (Gains)OtherTotal
COS$7,085 $301 $794 $1,253 $9,433 
SG&A950 — 8,871 6 9,827 
Total$8,035 $301 $9,665 $1,259 $19,260 
__________________________________
(1) 2025 Contract Termination charges within SG&A include an immaterial non-cash gain recognized on the early cancellation of certain lease agreements and the resulting write-off of the remaining operating lease liabilities associated with our 2023 Realignment Programs. Our 2023 Realignment Programs are substantially completed..
(2) Loss on sale of business related to NAF AB control valves business as described within Note 1, "Basis of Presentation and Accounting Policies," to our consolidated financial statements included in this Annual Report
The following is a summary of total inception to date restructuring charges, net of adjustments, related to our 2025 Realignment Programs:
Inception to Date
(Amounts in thousands)SeveranceContract TerminationAsset Write-Downs (Gains)OtherTotal
COS$31,440 $— $2,523 $9,449 $43,412 
SG&A (1)2,567 (3,505)56 599 (283)
Total$34,007 $(3,505)$2,579 $10,048 $43,129 
The following is a summary of total inception to date restructuring charges, net of adjustments, related to our 2023 Realignment Programs:
Inception to Date
 (Amounts in thousands)SeveranceContract TerminationAsset Write-DownsOtherTotal
     COS$14,164 $301 $13,655 $4,063 $32,183 
     SG&A1,106 — 12,621 (24)13,703 
     Loss on sale of business (2)
— — — 12,981 12,981 
Total$15,270 $301 $26,276 $17,020 $58,867 
_________________________________
(1) 2025 Contract Termination charges within SG&A include an immaterial non-cash gain recognized on the early cancellation of certain lease agreements and the resulting write-off of the remaining operating lease liabilities associated with our 2023 Realignment Programs. Our 2023 Realignment Programs are substantially completed.
(2) Loss on sale of business related to NAF AB control valves business as described within Note 1, "Significant Accounting Policies and Accounting Developments," to our consolidated financial statements included in this Annual Report.
The following represents the activity, primarily severance, related to the restructuring reserve for the Realignment Programs for the years ended December 31, 2025 and 2024:
(Amounts in thousands)20252024
Balance at January 1,$8,300 $8,184 
Charges, net of adjustments37,377 10,129 
Cash expenditures(13,457)(8,050)
Other non-cash adjustments, including currency(463)(1,963)
Balance at December 31,$31,757 $8,300