0001157523-23-001207.txt : 20230801 0001157523-23-001207.hdr.sgml : 20230801 20230801160544 ACCESSION NUMBER: 0001157523-23-001207 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 13 CONFORMED PERIOD OF REPORT: 20230801 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20230801 DATE AS OF CHANGE: 20230801 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FLOWSERVE CORP CENTRAL INDEX KEY: 0000030625 STANDARD INDUSTRIAL CLASSIFICATION: PUMPS & PUMPING EQUIPMENT [3561] IRS NUMBER: 310267900 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-13179 FILM NUMBER: 231131662 BUSINESS ADDRESS: STREET 1: 5215 N. O'CONNOR BLVD. STREET 2: SUITE 700 CITY: IRVING STATE: TX ZIP: 75039 BUSINESS PHONE: 9724436500 MAIL ADDRESS: STREET 1: 5215 N. O'CONNOR BLVD. STREET 2: SUITE 700 CITY: IRVING STATE: TX ZIP: 75039 FORMER COMPANY: FORMER CONFORMED NAME: DURCO INTERNATIONAL INC DATE OF NAME CHANGE: 19970508 FORMER COMPANY: FORMER CONFORMED NAME: DURIRON CO INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: THE DURIRON CO INC DATE OF NAME CHANGE: 19900509 8-K 1 a53497157.htm FLOWSERVE CORPORATION 8-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549
______________________
 
FORM 8-K
 

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
______________________

Date of Report (Date of earliest event reported): August 1, 2023

FLOWSERVE CORPORATION
(Exact Name of Registrant as Specified in its Charter)

New York
 001-13179
 31-0267900
(State or Other Jurisdiction
of Incorporation)
(Commission File Number)
(IRS Employer
Identification No.)

5215 N. O’Connor Blvd., Suite 700, Irving, Texas 75039
(Address of Principal Executive Offices)
(Zip Code)
                                                                                                                                                                   
(972) 443-6500
(Registrant’s telephone number, including area code)
N/A
(Former Name or Former Address, if Changed Since Last Report)
 
Securities registered pursuant to Section 12(b) of the Act:
 
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common Stock, $1.25 Par Value
 FLS
 New York Stock Exchange
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition.

On August 1, 2023, Flowserve Corporation, a New York corporation (the “Company”), issued a press release announcing financial results for its second quarter ended June 30, 2023. A copy of this press release is attached as Exhibit 99.1 and incorporated herein by reference.

The information in this Item 2.02 of Form 8-K and in Exhibit 99.1 attached hereto is furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, unless specifically identified therein as being incorporated therein by reference.

Item 7.01 Regulation FD Disclosure.

Earnings Presentation

On August 2, 2023, the Company will make a presentation about its financial and operating results for the second quarter of 2023, as noted in the press release described in Item 2.02 above.  The Company has posted the presentation on its website at http://www.flowserve.com under the “Investor Relations” section.

The information in this Item 7.01 of Form 8-K is furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, unless specifically identified therein as being incorporated therein by reference.

Item 9.01 Financial Statements and Exhibits.

(d)            Exhibits.

Exhibit No.
 
Description
 
 
 
 
 
 
 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 
FLOWSERVE CORPORATION
 
 
 
 
 
 
 
 
 
Dated: August 1, 2023
By:
/s/ Amy B. Schwetz
 
   
Amy B. Schwetz
  
 
 
Senior Vice President, Chief Financial Officer
 

EX-99.1 2 a53497157ex99_1.htm EXHIBIT 99.1
Exhibit 99.1

Flowserve Corporation Reports Second Quarter 2023 Results; Raises 2023 Financial Guidance

  • Raised full-year Revenue and Adjusted EPS guidance range as a result of strong year-to-date results and increased expectations for the remainder of the year
  • Reported and Adjusted1 Earnings Per Share (EPS)4 grew 15 and 73 percent year-over-year to 39 cents and 52 cents, respectively
  • Achieved sixth consecutive quarter with bookings above $1 billion including the second quarter’s healthy $1.1 billion; driven by aftermarket growth of 12.3%
  • Generated substantial revenue growth of 22.5%, delivering an adjusted operating margin of 10.4%, an increase of 320 bps year-over-year
  • Sizable backlog of $2.84 billion increased 3.9%, or $108 million, versus 2022 year-end, supported by 1.03x book-to-bill in the second quarter
  • Increased year-to-date operating cash flow by $122 million versus prior year

DALLAS--(BUSINESS WIRE)--August 1, 2023--Flowserve Corporation (NYSE: FLS), a leading provider of flow control products and services for the global infrastructure markets, today announced its financial results for the second quarter ended June 30, 2023.

Second Quarter 2023 Highlights (all comparisons to the 2022 second quarter, unless otherwise noted)

  • Reported Earnings Per Share (EPS) of $0.39 and Adjusted Earnings Per Share (EPS)1 of $0.52, compared to $0.34 and $0.30, respectively
    • Second quarter 2023 Reported EPS includes after-tax adjusted expenses of $17.0 million, comprised of realignment charges, below-the-line foreign exchange, Velan acquisition and integration costs, and additional expense related to a previously reserved sales contract
  • Total bookings were $1.11 billion, up $67.0 million or 6.4%. On a constant currency basis2, total bookings were up $69.0 million or 6.6%
    • Original equipment bookings were $520.1 million, up $2.1 million or 0.4%. On a constant currency basis2, original equipment bookings were up $1.1 million or 0.2%
    • Aftermarket bookings were $590.9 million, up $64.9 million or 12.3%. On a constant currency basis2, aftermarket bookings were up $67.9 million or 12.9%
  • Sales were $1.08 billion, up $198.2 million or 22.5%. On a constant currency basis2, sales were up $202.0 million or 22.9%
    • Original equipment sales were $517.8 million, up $106.5 million or 25.9%. On a constant currency basis2, original equipment sales were up $107.9 million or 26.2%
    • Aftermarket sales were $562.6 million, up $91.7 million or 19.5%. On a constant currency basis2, aftermarket sales were up $94.1 million or 20.0%
  • Reported gross and operating margins were 29.9% and 8.9%, respectively
    • Adjusted gross and operating margins3 were 30.3% and 10.4%, respectively
  • Backlog of $2.84 billion, up $527.0 million or 22.8%, compared to the 2022 second quarter

“We are pleased to report strong revenue growth and enhanced margins in the second quarter, building on the momentum we established over the past several quarters,” said Scott Rowe, Flowserve’s president and chief executive officer. “The improved operating environment, combined with our internal process changes, has Flowserve delivering at a much higher level. My confidence around our operational execution continues to grow, which has led us to increase our full year guidance range for the second time this year.”

Rowe concluded, “Our 3D strategy remains aligned with the current environment, and has the company positioned for growth despite some global economic uncertainty. We fully expect that the strong aftermarket and MRO spending environment will continue at least into next year. Combining these short cycle trends with our solid project funnel supports our expectations for revenue growth through at least 2024. Our significantly improved execution, near-record backlog levels, and healthy market outlook should enable Flowserve to deliver increased value to our customers, shareholders, and associates in 2023 and beyond.”

Revised 2023 Guidance4

Flowserve is raising its Revenue and Adjusted EPS guidance metrics for 2023, as well as updating or re-affirming certain other financial metrics, as shown in the table below:


 

Prior Target Range5

Revised Target Range


Revenue Growth

Up 10.0% to 12.0%

Up 16.0% to 18.0%


Reported Earnings Per Share

$1.40 - $1.65

Re-affirmed


Adjusted Earnings Per Share

$1.65 - $1.85

$1.85 - $2.00


Net Interest Expense

$55 - $60 million

~$60 million


Adjusted Tax Rate

18% - 20%

~20%


Capital Expenditures

$75 - $85 million

Re-affirmed

The outlook excludes any contribution from the previously announced pending acquisition of Velan Inc. Additionally, Flowserve’s 2023 Adjusted EPS target range also excludes expected adjusted items including identified realignment charges of approximately $40 million, as well as the potential impact of below-the-line foreign currency effects and certain other discrete items which may arise during the course of the year, including the potential for additional realignment expense.

Second Quarter 2023 Results Conference Call

Flowserve will host its conference call with the financial community on Wednesday, August 2nd at 11:00 AM Eastern. Scott Rowe, president and chief executive officer, as well as other members of the management team will be presenting. The call can be accessed by shareholders and other interested parties at www.flowserve.com under the “Investor Relations” section.

1 See Consolidated Reconciliation of Non-GAAP Financial Measures to the Most Directly Comparable GAAP Financial Measure (Unaudited) and Segment Reconciliation of Non-GAAP Financial Measures to the Most Directly Comparable GAAP Financial Measure (Unaudited) tables for a detailed reconciliation of reported results to adjusted measures.

2 Constant currency is a non-GAAP financial measure. We have calculated constant currency amounts and the associated currency effects on operations by translating current year results on a monthly basis at prior year exchange rates for the same periods.

3 Adjusted gross and operating margins are calculated by dividing adjusted gross profit and adjusted operating income, respectively, by revenues. Adjusted gross profit and adjusted operating income are derived by excluding the adjusted items. See Consolidated Reconciliation of Non-GAAP Financial Measures to the Most Directly Comparable GAAP Financial Measure (Unaudited) and Segment Reconciliation of Non-GAAP Financial Measures to the Most Directly Comparable GAAP Financial Measure (Unaudited) tables for a detailed reconciliation..

4 Adjusted 2023 EPS excludes identified realignment expenses, the impact from other specific discrete items (including planned Velan acquisition) and below-the-line foreign currency effects and utilizes current FX rates and approximately 131.8 million fully diluted shares.

5 Prior target range was provided as of May 2, 2023, and included revisions from Flowserve’s initial guidance range provided February 10, 2023

About Flowserve

Flowserve Corp. is one of the world’s leading providers of fluid motion and control products and services. Operating in more than 50 countries, the company produces engineered and industrial pumps, seals and valves as well as a range of related flow management services. More information about Flowserve can be obtained by visiting the company’s Web site at www.flowserve.com.

Safe Harbor Statement: This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Words or phrases such as, "may," "should," "expects," "could," "intends," "plans," "anticipates," "estimates," "believes," "forecasts," "predicts" or other similar expressions are intended to identify forward-looking statements, which include, without limitation, earnings forecasts, statements relating to our business strategy and statements of expectations, beliefs, future plans and strategies and anticipated developments concerning our industry, business, operations and financial performance and condition.

The forward-looking statements included in this news release are based on our current expectations, projections, estimates and assumptions. These statements are only predictions, not guarantees. Such forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict. These risks and uncertainties may cause actual results to differ materially from what is forecast in such forward-looking statements, and include, without limitation, the following: the impact of the global outbreak of COVID-19 on our business and operations; global supply chain disruptions and the current inflationary environment could adversely affect the efficiency of our manufacturing and increase the cost of providing our products to customers; a portion of our bookings may not lead to completed sales, and our ability to convert bookings into revenues at acceptable profit margins; changes in global economic conditions and the potential for unexpected cancellations or delays of customer orders in our reported backlog; our dependence on our customers’ ability to make required capital investment and maintenance expenditures; if we are not able to successfully execute and realize the expected financial benefits from any restructuring and realignment initiatives, our business could be adversely affected; the substantial dependence of our sales on the success of the oil and gas, chemical, power generation and water management industries; the adverse impact of volatile raw materials prices on our products and operating margins; economic, political and other risks associated with our international operations, including military actions, trade embargoes, epidemics or pandemics or changes to tariffs or trade agreements that could affect customer markets, particularly North African, Latin American, Asian and Middle Eastern markets and global oil and gas producers, and non-compliance with U.S. export/re-export control, foreign corrupt practice laws, economic sanctions and import laws and regulations; increased aging and slower collection of receivables, particularly in Latin America and other emerging markets; our exposure to fluctuations in foreign currency exchange rates, including in hyperinflationary countries such as Venezuela and Argentina; potential adverse consequences resulting from litigation to which we are a party, such as litigation involving asbestos-containing material claims; expectations regarding acquisitions and the integration of acquired businesses; the potential adverse impact of an impairment in the carrying value of goodwill or other intangible assets; our dependence upon third-party suppliers whose failure to perform timely could adversely affect our business operations; the highly competitive nature of the markets in which we operate; environmental compliance costs and liabilities; potential work stoppages and other labor matters; access to public and private sources of debt financing; our inability to protect our intellectual property in the U.S., as well as in foreign countries; obligations under our defined benefit pension plans; our internal control over financial reporting may not prevent or detect misstatements because of its inherent limitations, including the possibility of human error, the circumvention or overriding of controls, or fraud; the recording of increased deferred tax asset valuation allowances in the future or the impact of tax law changes on such deferred tax assets could affect our operating results; our information technology infrastructure could be subject to service interruptions, data corruption, cyber-based attacks or network security breaches, which could disrupt our business operations and result in the loss of critical and confidential information; ineffective internal controls could impact the accuracy and timely reporting of our business and financial results; and other factors described from time to time in our filings with the Securities and Exchange Commission.

All forward-looking statements included in this news release are based on information available to us on the date hereof, and we assume no obligation to update any forward-looking statement.

The Company reports its financial results in accordance with U.S. generally accepted accounting principles (GAAP). However, management believes that non-GAAP financial measures which exclude certain non-recurring items present additional useful comparisons between current results and results in prior operating periods, providing investors with a clearer view of the underlying trends of the business. Management also uses these non-GAAP financial measures in making financial, operating, planning and compensation decisions and in evaluating the Company's performance. Non-GAAP financial measures, which may be inconsistent with similarly captioned measures presented by other companies, should be viewed in addition to, and not as a substitute for, the Company’s reported results prepared in accordance with GAAP.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME


(Unaudited)



Three Months Ended June 30,
(Amounts in thousands, except per share data)

2023


2022




 
Sales

$

1,080,376

 


$

882,222

 

Cost of sales

 

(757,616

)


 

(632,393

)

Gross profit

 

322,760

 


 

249,829

 

Selling, general and administrative expense

 

(230,082

)


 

(194,606

)

Net earnings from affiliates

 

3,970

 


 

5,109

 

Operating income

 

96,648

 


 

60,332

 

Interest expense

 

(16,554

)


 

(11,062

)

Interest income

 

1,907

 


 

854

 

Other income (expense), net

 

(5,543

)


 

7,589

 

Earnings before income taxes

 

76,458

 


 

57,713

 

Provision for income taxes

 

(21,304

)


 

(11,618

)

Net earnings, including noncontrolling interests

 

55,154

 


 

46,095

 

Less: Net earnings attributable to noncontrolling interests

 

(3,951

)


 

(1,318

)

Net earnings attributable to Flowserve Corporation

$

51,203

 


$

44,777

 




 
Net earnings per share attributable to Flowserve Corporation common shareholders:


Basic

$

0.39

 


$

0.34

 

Diluted

 

0.39

 


 

0.34

 




 
Weighted average shares – basic

 

131,171

 


 

130,666

 

Weighted average shares – diluted

 

131,810

 


 

131,245

 

Consolidated Reconciliation of Non-GAAP Financial Measures to the Most Directly Comparable GAAP Financial Measure (Unaudited)
(Amounts in thousands, except per share data)















 
Three Months Ended June 30, 2023 Gross Profit Selling, General & Administrative Expense Operating Income Other Income (Expense), Net Income Taxes Net Earnings (Loss) Effective Tax Rate Diluted EPS
Reported

$

322,760

 

$

230,082

 

$

96,648

 

$

(5,543

)

$

21,304

 

$

51,203

 

27.9

%

$

0.39

Reported as a percent of sales

 

29.9

%

 

21.3

%

 

8.9

%

 

-0.5

%

 

2.0

%

 

4.7

%











 
Realignment charges (a)

 

4,106

 

 

(7,445

)

 

11,551

 

 

-

 

 

2,982

 

 

8,569

 

25.8

%

 

0.07

Acquisition and integration-related (b)

 

-

 

 

(2,856

)

 

2,856

 

 

-

 

 

732

 

 

2,124

 

25.6

%

 

0.02

Discrete asset write-downs (c)

 

796

 

 

(1,038

)

 

1,834

 

 

-

 

 

479

 

 

1,355

 

26.1

%

 

0.01

Below-the-line foreign exchange impacts (d)

 

-

 

 

-

 

 

-

 

 

4,758

 

 

(156

)

 

4,914

 

-3.3

%

 

0.04

Adjusted

$

327,662

 

$

218,743

 

$

112,889

 

$

(785

)

$

25,341

 

$

68,165

 

26.0

%

$

0.52

Adjusted as a percent of sales

 

30.3

%

 

20.2

%

 

10.4

%

 

-0.1

%

 

2.3

%

 

6.3

%











 
Note: Amounts may not calculate due to rounding






(a) Charges represent realignment costs incurred as a result of realignment programs of which $4 is non-cash.
(b) Charges represent acquisition and integration-related costs associated with the pending acquisition of Velan Inc.
(c) Charge represents a further expense of $1,834 associated with a sales contract that was initially reserved for in 2017.
(d) Below-the-line foreign exchange impacts represent the remeasurement of foreign exchange derivative contracts as well as the remeasurement of assets and liabilities that are denominated in a currency other than a site’s respective functional currency.








 
Three Months Ended June 30, 2022 Gross Profit Selling, General & Administrative Expense Operating Income Other Income (Expense), Net Income Taxes Net Earnings (Loss) Effective Tax Rate Diluted EPS
Reported

$

249,829

 

$

194,606

 

$

60,332

 

$

7,589

 

$

11,618

 

$

44,777

 

20.1

%

$

0.34

Reported as a percent of sales

 

28.3

%

 

22.1

%

 

6.8

%

 

0.9

%

 

1.3

%

 

5.1

%











 
Realignment charges (a)

 

467

 

 

(62

)

 

529

 

 

-

 

 

101

 

 

428

 

19.1

%

 

0.00

Acquisition and integration-related

 

-

 

 

-

 

 

-

 

 

-

 

 

-

 

 

-

 

0.0

%

 

0.00

Discrete asset write-downs (b)

 

-

 

 

(3,036

)

 

3,036

 

 

-

 

 

729

 

 

2,307

 

24.0

%

 

0.02

Below-the-line foreign exchange impacts (c)

 

-

 

 

-

 

 

-

 

 

(10,112

)

 

(2,064

)

 

(8,048

)

20.4

%

 

-0.06

Adjusted

$

250,296

 

$

191,508

 

$

63,897

 

$

(2,523

)

$

10,384

 

$

39,464

 

20.3

%

$

0.30

Adjusted as a percent of sales

 

28.4

%

 

21.7

%

 

7.2

%

 

-0.3

%

 

1.2

%

 

4.5

%











 
Note: Amounts may not calculate due to rounding






(a) Charges represent realignment costs incurred as a result of realignment programs of which $19 is non-cash.
(b) Charge represents a non-cash asset write-down associated with the impairment of a trademark.



(c) Below-the-line foreign exchange impacts represent the remeasurement of foreign exchange derivative contracts as well as the remeasurement of assets and liabilities that are denominated in a currency other than a site’s respective functional currency.
SEGMENT INFORMATION


(Unaudited)





 
FLOWSERVE PUMP DIVISION Three Months Ended June 30,
(Amounts in millions, except percentages)

2023


2022

Bookings

$

760.0

 


$

717.8

 

Sales

 

765.4

 


 

614.9

 

Gross profit

 

226.8

 


 

184.0

 

Gross profit margin

 

29.6

%


 

29.9

%

SG&A

 

132.8

 


 

131.7

 

Segment operating income

 

98.0

 


 

57.3

 

Segment operating income as a percentage of sales

 

12.8

%


 

9.3

%




 
FLOW CONTROL DIVISION Three Months Ended June 30,
(Amounts in millions, except percentages)

2023


2022

Bookings

$

359.7

 


$

329.9

 

Sales

 

317.7

 


 

268.4

 

Gross profit

 

93.1

 


 

80.3

 

Gross profit margin

 

29.3

%


 

29.9

%

SG&A

 

56.9

 


 

50.0

 

Segment operating income

 

36.1

 


 

30.4

 

Segment operating income as a percentage of sales

 

11.4

%


 

11.3

%

Segment Reconciliation of Non-GAAP Financial Measures to the Most Directly Comparable GAAP Financial Measure (Unaudited)

(Amounts in thousands)















 
Flowserve Pump Division







Three Months Ended June 30, 2023 Gross Profit Selling, General & Administrative Expense Operating Income
Three Months Ended June 30, 2022 Gross Profit Selling, General & Administrative Expense Operating Income
Reported

$

226,814

 

$

132,780

 

$

98,003

 


Reported

$

183,959

 

$

131,722

 

$

57,346

 

Reported as a percent of sales

 

29.6

%

 

17.3

%

 

12.8

%


Reported as a percent of sales

 

29.9

%

 

21.4

%

 

9.3

%









 
Realignment charges (a)

 

953

 

 

(17

)

 

970

 


Realignment charges (a)

 

379

 

 

(2

)

 

381

 

Discrete asset write-downs (b)

 

796

 

 

(1,038

)

 

1,834

 


Discrete asset write-downs

 

-

 

 

-

 

 

-

 

Adjusted

$

228,563

 

$

131,725

 

$

100,807

 


Adjusted

$

184,338

 

$

131,720

 

$

57,727

 

Adjusted as a percent of sales

 

29.9

%

 

17.2

%

 

13.2

%


Adjusted as a percent of sales

 

30.0

%

 

21.4

%

 

9.4

%









 
Flow Control Division







Three Months Ended June 30, 2023 Gross Profit Selling, General & Administrative Expense Operating Income
Three Months Ended June 30, 2022 Gross Profit Selling, General & Administrative Expense Operating Income
Reported

$

93,058

 

$

56,943

 

$

36,115

 


Reported

$

80,324

 

$

49,955

 

$

30,369

 

Reported as a percent of sales

 

29.3

%

 

17.9

%

 

11.4

%


Reported as a percent of sales

 

29.9

%

 

18.6

%

 

11.3

%









 
Realignment charges (a)

 

3,153

 

 

-

 

 

3,153

 


Realignment charges (a)

 

88

 

 

(33

)

 

121

 

Acquisition and integration-related (d)

 

-

 

 

(2,856

)

 

2,856

 


Acquisition and integration-related

 

-

 

 

-

 

 

-

 

Discrete asset write-downs

 

-

 

 

-

 

 

-

 


Discrete asset write-downs (b)

 

-

 

 

(3,036

)

 

3,036

 

Adjusted

$

96,211

 

$

54,087

 

$

42,124

 


Adjusted

$

80,412

 

$

46,886

 

$

33,526

 

Adjusted as a percent of sales

 

30.3

%

 

17.0

%

 

13.3

%


Adjusted as a percent of sales

 

30.0

%

 

17.5

%

 

12.5

%









 

Note: Amounts may not calculate due to rounding

 

 

Note: Amounts may not calculate due to rounding

 

 

(a) Charges represent realignment costs incurred as a result of realignment programs of which $4 is non-cash.

 

(a) Charges represent realignment costs incurred as a result of realignment programs of which $19 is non-cash.

(b) Charge represents a further expense of $1,834 associated with a sales contract that was initially reserved for in 2017.

 

(b) Charge represents a non-cash asset write-down associated with the impairment of a trademark.

(c) Charges represent acquisition and integration-related costs associated with the pending acquisition of Velan Inc.

 

 

 

 

 

CONDENSED CONSOLIDATED STATEMENTS OF INCOME


(Unaudited)



Six Months Ended June 30,
(Amounts in thousands, except per share data)

2023


2022




 
Sales

$

2,060,681

 


$

1,703,280

 

Cost of sales

 

(1,441,090

)


 

(1,243,803

)

Gross profit

 

619,591

 


 

459,477

 

Selling, general and administrative expense

 

(474,359

)


 

(400,816

)

Net earnings from affiliates

 

8,603

 


 

9,039

 

Operating income

 

153,835

 


 

67,700

 

Interest expense

 

(32,766

)


 

(21,755

)

Interest income

 

3,401

 


 

1,797

 

Other income (expense), net

 

(13,562

)


 

(524

)

Earnings before income taxes

 

110,908

 


 

47,218

 

Provision for income taxes

 

(25,757

)


 

(14,800

)

Net earnings, including noncontrolling interests

 

85,151

 


 

32,418

 

Less: Net earnings attributable to noncontrolling interests

 

(7,181

)


 

(3,458

)

Net earnings attributable to Flowserve Corporation

$

77,970

 


$

28,960

 




 
Net earnings per share attributable to Flowserve Corporation common shareholders:


Basic

$

0.59

 


$

0.22

 

Diluted

 

0.59

 


 

0.22

 




 
Weighted average shares – basic

 

131,051

 


 

130,554

 

Weighted average shares – diluted

 

131,782

 


 

131,148

 

Consolidated Reconciliation of Non-GAAP Financial Measures to the Most Directly Comparable GAAP Financial Measure (Unaudited)
(Amounts in thousands, except per share data)














 
Six Months Ended June 30, 2023 Gross Profit Selling, General & Administrative Expense Operating Income Other Income (Expense), Net Income Taxes Net Earnings (Loss) Effective Tax Rate Diluted EPS
Reported

$

619,591

 

$

474,359

 

$

153,835

 

$

(13,562

)

$

25,757

 

$

77,970

 

23.2

%

$

0.59

Reported as a percent of sales

 

30.1

%

 

23.0

%

 

7.5

%

 

-0.7

%

 

1.2

%

 

3.8

%











 
Realignment charges (a)

 

4,308

 

 

(24,122

)

 

28,430

 

 

-

 

 

6,166

 

 

22,264

 

21.7

%

 

0.17

Acquisition and integration-related (b)

 

-

 

 

(5,952

)

 

5,952

 

 

-

 

 

1,554

 

 

4,398

 

26.1

%

 

0.03

Discrete asset write-downs (c)(d)(e)

 

1,969

 

 

(3,955

)

 

5,924

 

 

-

 

 

1,517

 

 

4,407

 

25.6

%

 

0.03

Below-the-line foreign exchange impacts (f)

 

-

 

 

-

 

 

-

 

 

12,164

 

 

393

 

 

11,771

 

3.2

%

 

0.09

Adjusted

$

625,868

 

$

440,330

 

$

194,141

 

$

(1,398

)

$

35,387

 

$

120,810

 

21.7

%

$

0.92

Adjusted as a percent of sales

 

30.4

%

 

21.4

%

 

9.4

%

 

-0.1

%

 

1.7

%

 

5.9

%











 
Note: Amounts may not calculate due to rounding






(a) Charges represent realignment costs incurred as a result of realignment programs of which $7,601 is non-cash.
(b) Charges represent acquisition and integration-related costs associated with the pending acquisition of Velan Inc.
(c) Charge represents a further expense of $1,834 associated with a sales contract that was initially reserved for in 2017.
(d) Charge represents a further $1,173 non-cash write-down of inventory associated with a customer sales contract that was originally determined to be uncollectible in 2020.
(e) Charge represents a $2,917 non-cash write-down of a licensing agreement.
(f) Below-the-line foreign exchange impacts represent the remeasurement of foreign exchange derivative contracts as well as the remeasurement of assets and liabilities that are denominated in a currency other than a site’s respective functional currency.








 
Six Months Ended June 30, 2022 Gross Profit Selling, General & Administrative Expense Operating Income Other Income (Expense), Net Income Taxes Net Earnings (Loss) Effective Tax Rate Diluted EPS
Reported

$

459,477

 

$

400,816

 

$

67,700

 

$

(524

)

$

14,800

 

$

28,960

 

31.4

%

$

0.22

Reported as a percent of sales

 

27.0

%

 

23.5

%

 

4.0

%

 

0.0

%

 

0.9

%

 

1.7

%











 
Realignment charges (a)

 

269

 

 

139

 

 

130

 

 

-

 

 

27

 

 

103

 

20.8

%

 

0.00

Acquisition and integration-related

 

-

 

 

-

 

 

-

 

 

-

 

 

-

 

 

-

 

0.0

%

 

0.00

Discrete asset write-downs (b)(c)

 

10,053

 

 

(13,229

)

 

23,282

 

 

-

 

 

(70

)

 

23,352

 

-0.3

%

 

0.18

Below-the-line foreign exchange impacts (d)

 

-

 

 

-

 

 

-

 

 

(4,418

)

 

(1,031

)

 

(3,387

)

23.3

%

 

-0.03

Adjusted

$

469,799

 

$

387,726

 

$

91,112

 

$

(4,942

)

$

13,726

 

$

49,028

 

20.7

%

$

0.37

Adjusted as a percent of sales

 

27.6

%

 

22.8

%

 

5.3

%

 

-0.3

%

 

0.8

%

 

2.9

%











 
Note: Amounts may not calculate due to rounding






(a) Charges represent realignment costs incurred as a result of realignment programs of which $259 is non-cash.
(b) Charge represents a $3,096 non-cash asset write-down associated with the impairment of a trademark.


(c) Charges represent a $20,246 reserve of Russia-related financial exposures.




(d) Below-the-line foreign exchange impacts represent the remeasurement of foreign exchange derivative contracts as well as the remeasurement of assets and liabilities that are denominated in a currency other than a site’s respective functional currency.
SEGMENT INFORMATION


(Unaudited)





 
FLOWSERVE PUMP DIVISION Six Months Ended June 30,
(Amounts in millions, except percentages)

2023


2022

Bookings

$

1,487.8

 


$

1,513.0

 

Sales

 

1,465.5

 


 

1,190.5

 

Gross profit

 

448.2

 


 

340.9

 

Gross profit margin

 

30.6

%


 

28.6

%

SG&A

 

279.8

 


 

271.5

 

Segment operating income

 

177.1

 


 

78.3

 

Segment operating income as a percentage of sales

 

12.1

%


 

6.6

%




 
FLOW CONTROL DIVISION Six Months Ended June 30,
(Amounts in millions, except percentages)

2023


2022

Bookings

$

691.6

 


$

624.2

 

Sales

 

599.3

 


 

516.3

 

Gross profit

 

173.4

 


 

139.8

 

Gross profit margin

 

28.9

%


 

27.1

%

SG&A

 

118.7

 


 

94.2

 

Segment operating income

 

54.6

 


 

45.6

 

Segment operating income as a percentage of sales

 

9.1

%


 

8.8

%

Segment Reconciliation of Non-GAAP Financial Measures to the Most Directly Comparable GAAP Financial Measure (Unaudited)

(Amounts in thousands)















 
Flowserve Pump Division







Six Months Ended June 30, 2023 Gross Profit Selling, General & Administrative Expense Operating Income
Six Months Ended June 30, 2022 Gross Profit Selling, General & Administrative Expense Operating Income
Reported

$

448,241

 

$

279,759

 

$

177,076

 


Reported

$

340,903

 

$

271,523

 

$

78,347

 

Reported as a percent of sales

 

30.6

%

 

19.1

%

 

12.1

%


Reported as a percent of sales

 

28.6

%

 

22.8

%

 

6.6

%









 
Realignment charges (a)

 

1,343

 

 

(2,067

)

 

3,410

 


Realignment charges (a)

 

296

 

 

(77

)

 

373

 

Discrete asset write-downs (b)(c)(d)

 

1,969

 

 

(3,955

)

 

5,924

 


Discrete asset write-downs (b)

 

8,939

 

 

(9,111

)

 

18,050

 

Adjusted

$

451,553

 

$

273,737

 

$

186,410

 


Adjusted

$

350,138

 

$

262,335

 

$

96,770

 

Adjusted as a percent of sales

 

30.8

%

 

18.7

%

 

12.7

%


Adjusted as a percent of sales

 

29.4

%

 

22.0

%

 

8.1

%









 
Flow Control Division







Six Months Ended June 30, 2023 Gross Profit Selling, General & Administrative Expense Operating Income
Six Months Ended June 30, 2022 Gross Profit Selling, General & Administrative Expense Operating Income
Reported

$

173,351

 

$

118,702

 

$

54,649

 


Reported

$

139,840

 

$

94,234

 

$

45,606

 

Reported as a percent of sales

 

28.9

%

 

19.8

%

 

9.1

%


Reported as a percent of sales

 

27.1

%

 

18.3

%

 

8.8

%









 
Realignment charges (a)

 

3,164

 

 

(8,906

)

 

12,070

 


Realignment charges (a)

 

34

 

 

(50

)

 

84

 

Acquisition and integration-related (e)

 

-

 

 

(5,952

)

 

5,952

 


Acquisition and integration-related

 

-

 

 

-

 

 

-

 

Discrete asset write-downs

 

-

 

 

-

 

 

-

 


Discrete asset write-downs (b)(c)

 

1,114

 

 

(4,118

)

 

5,232

 

Adjusted

$

176,515

 

$

103,844

 

$

72,671

 


Adjusted

$

140,988

 

$

90,066

 

$

50,922

 

Adjusted as a percent of sales

 

29.5

%

 

17.3

%

 

12.1

%


Adjusted as a percent of sales

 

27.3

%

 

17.4

%

 

9.9

%









 
Note: Amounts may not calculate due to rounding


Note: Amounts may not calculate due to rounding

(a) Charges represent realignment costs incurred as a result of realignment programs of which $4 is non-cash.
(a) Charges represent realignment costs incurred as a result of realignment programs of which $19 is non-cash.
(b) Charge represents a further expense of $1,834 associated with a sales contract that was initially reserved for in 2017.
(b) Charges represent the reserve of Russia-related financial exposures of $20,246.
(c) Charge represents a further $1,173 non-cash write-down of inventory associated with a customer sales contract that was originally determined to be uncollectible in 2020.
(c) Charge represents a non-cash asset write-down of $3,036 associated with the impairment of a trademark.
(d) Charge represents a $2,917 non-cash write-down of a licensing agreement.




(e) Charges represent acquisition and integration-related costs associated with the pending acquisition of Velan Inc.




Second Quarter and Year-to-Date 2023 - Segment Results
(dollars in millions, comparison vs. 2022 second quarter and year-to-date, unaudited)

















 



FPD
FCD



2nd Qtr
YTD
2nd Qtr
YTD
Bookings

$

760.0

 



$

1,487.8

 



$

359.7

 



$

691.6

 


- vs. prior year

 

42.2

 

5.9

%


 

-25.2

 

-1.7

%


 

29.8

 

9.0

%


 

67.4

 

10.8

%

- on constant currency

 

41.3

 

5.8

%


 

-11.3

 

-0.7

%


 

32.8

 

10.0

%


 

79.0

 

12.7

%


















 
Sales

$

765.4

 



$

1,465.5

 



$

317.7

 



$

599.3

 


- vs. prior year

 

150.5

 

24.5

%


 

275.0

 

23.1

%


 

49.3

 

18.4

%


 

83.0

 

16.1

%

- on constant currency

 

151.4

 

24.6

%


 

292.1

 

24.5

%


 

52.3

 

19.5

%


 

93.7

 

18.2

%


















 
Gross Profit

$

226.8

 



$

448.2

 



$

93.1

 



$

173.4

 


- vs. prior year

 

23.3

%



 

31.5

%



 

15.9

%



 

24.0

%



















 
Gross Margin (% of sales)

 

29.6

%



 

30.6

%



 

29.3

%



 

28.9

%


- vs. prior year (in basis points)

(30) bps




200 bps




(60) bps




180 bps




















 
Operating Income

$

98.0

 



$

177.1

 



$

36.1

 



$

54.6

 


- vs. prior year

 

40.7

 

71.0

%


 

98.8

 

126.2

%


 

5.7

 

18.8

%


 

9.0

 

19.7

%

- on constant currency

 

41.9

 

73.1

%


 

106.2

 

135.5

%


 

6.7

 

22.2

%


 

10.8

 

23.8

%


















 
Operating Margin (% of sales)

 

12.8

%



 

12.1

%



 

11.4

%



 

9.1

%


- vs. prior year (in basis points)

350 bps




550 bps




10 bps




30 bps




















 
Adjusted Operating Income *

$

100.8

 



$

186.4

 



$

42.1

 



$

72.7

 


- vs. prior year

 

43.1

 

74.7

%


 

89.7

 

92.8

%


 

8.6

 

25.7

%


 

21.8

 

42.8

%

- on constant currency

 

44.3

 

76.8

%


 

97.1

 

100.4

%


 

9.6

 

28.7

%


 

23.6

 

46.4

%


















 
Adj. Oper. Margin (% of sales)*

 

13.2

%



 

12.7

%



 

13.3

%



 

12.1

%


- vs. prior year (in basis points)

380 bps




460 bps




80 bps




220 bps




















 
Backlog

$

2,026.4

 







$

835.6

 























 
* Adjusted Operating Income and Adjusted Operating Margin exclude realignment charges and other specific discrete items
















CONDENSED CONSOLIDATED BALANCE SHEETS


(Unaudited)



June 30,
December 31,
(Amounts in thousands, except par value)

2023


2022




 
ASSETS


Current assets:


Cash and cash equivalents

$

422,837

 


$

434,971

 

Accounts receivable, net of allowance for expected credit losses of $84,358 and $83,062, respectively

 

887,867

 


 

868,632

 

Contract assets, net of allowance for expected credit losses of $4,420 and $5,819, respectively

 

227,636

 


 

233,457

 

Inventories, net

 

914,288

 


 

803,198

 

Prepaid expenses and other

 

126,756

 


 

110,714

 

Total current assets

 

2,579,384

 


 

2,450,972

 

Property, plant and equipment, net of accumulated depreciation of $1,139,149 and $1,172,957, respectively

 

500,075

 


 

500,945

 

Operating lease right-of-use assets, net

 

164,391

 


 

174,980

 

Goodwill

 

1,177,131

 


 

1,168,124

 

Deferred taxes

 

158,835

 


 

149,290

 

Other intangible assets, net

 

125,216

 


 

134,503

 

Other assets, net of allowance for expected credit losses of $66,857 and $66,377, respectively

 

214,983

 


 

211,820

 

Total assets

$

4,920,015

 


$

4,790,634

 




 
LIABILITIES AND EQUITY


Current liabilities:


Accounts payable

$

492,623

 


$

476,747

 

Accrued liabilities

 

441,520

 


 

427,578

 

Contract liabilities

 

269,725

 


 

256,963

 

Debt due within one year

 

55,781

 


 

49,335

 

Operating lease liabilities

 

32,440

 


 

32,528

 

Total current liabilities

 

1,292,089

 


 

1,243,151

 

Long-term debt due after one year

 

1,245,253

 


 

1,224,151

 

Operating lease liabilities

 

146,255

 


 

155,196

 

Retirement obligations and other liabilities

 

314,408

 


 

309,529

 

Shareholders’ equity:


Common shares, $1.25 par value

 

220,991

 


 

220,991

 

Shares authorized – 305,000


Shares issued – 176,793 and 176,793, respectively


Capital in excess of par value

 

495,281

 


 

507,484

 

Retained earnings

 

3,798,984

 


 

3,774,209

 

Treasury shares, at cost – 45,894 and 46,359 shares, respectively

 

(2,014,932

)


 

(2,036,882

)

Deferred compensation obligation

 

7,815

 


 

6,979

 

Accumulated other comprehensive loss

 

(623,687

)


 

(647,788

)

Total Flowserve Corporation shareholders' equity

 

1,884,452

 


 

1,824,993

 

Noncontrolling interests

 

37,558

 


 

33,614

 

Total equity

 

1,922,010

 


 

1,858,607

 

Total liabilities and equity

$

4,920,015

 


$

4,790,634

 

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS


(Unaudited)



Six Months Ended June 30,

(Amounts in thousands)

2023

 

2022




 
Cash flows – Operating activities:


Net earnings, including noncontrolling interests

$

85,151

 


$

32,418

 

Adjustments to reconcile net earnings to net cash provided (used) by operating activities:


Depreciation

 

37,452

 


 

40,034

 

Amortization of intangible and other assets

 

5,158

 


 

6,748

 

Stock-based compensation

 

15,878

 


 

16,896

 

Foreign currency, asset write downs and other non-cash adjustments

 

(8,418

)


 

(3,982

)

Change in assets and liabilities:


Accounts receivable, net

 

(5,350

)


 

(21,638

)

Inventories, net

 

(99,240

)


 

(96,737

)

Contract assets, net

 

9,917

 


 

(7,705

)

Prepaid expenses and other assets, net

 

(105

)


 

(19,769

)

Accounts payable

 

7,118

 


 

33,550

 

Contract liabilities

 

10,831

 


 

9,642

 

Accrued liabilities and income taxes payable

 

(2,091

)


 

(65,773

)

Retirement obligations and other

 

8,412

 


 

10,028

 

Net deferred taxes

 

(14,329

)


 

(5,079

)

Net cash flows provided (used) by operating activities

 

50,384

 


 

(71,367

)

Cash flows – Investing activities:


Capital expenditures

 

(31,893

)


 

(31,012

)

Other

 

(941

)


 

2,015

 

Net cash flows provided (used) by investing activities

 

(32,834

)


 

(28,997

)

Cash flows – Financing activities:


Payments on term loan

 

(20,000

)


 

(15,921

)

Proceeds under revolving credit facility

 

150,000

 


 

-

 

Payments under revolving credit facility

 

(100,000

)


 

-

 

Proceeds under other financing arrangements

 

197

 


 

1,029

 

Payments under other financing arrangements

 

(3,458

)


 

(720

)

Payments related to tax withholding for stock-based compensation

 

(6,235

)


 

(4,497

)

Payments of dividends

 

(52,471

)


 

(52,267

)

Other

 

(320

)


 

(5,334

)

Net cash flows provided (used) by financing activities

 

(32,287

)


 

(77,710

)

Effect of exchange rate changes on cash

 

2,603

 


 

(22,033

)

Net change in cash and cash equivalents

 

(12,134

)


 

(200,107

)

Cash and cash equivalents at beginning of period

 

434,971

 


 

658,452

 

Cash and cash equivalents at end of period

$

422,837

 


$

458,345

 

 

Contacts

Investor Contacts:
Jay Roueche, Vice President, Investor Relations & Treasurer, (972) 443-6560
Mike Mullin, Director, Investor Relations, (214) 697-8568

EX-101.SCH 3 fls-20230801.xsd XBRL TAXONOMY EXTENSION SCHEMA 000100 - Document - Document and Entity Information link:presentationLink link:calculationLink link:definitionLink EX-101.LAB 4 fls-20230801_lab.xml XBRL TAXONOMY EXTENSION LABEL LINKBASE Cover [Abstract] Document Type Written Communications Soliciting Material Pre-commencement Tender Offer Pre-commencement Issuer Tender Offer Amendment Flag Document Fiscal Year Focus Document Fiscal Period Focus Document Period End Date Entity Registrant Name Entity Central Index Key Entity File Number Entity Tax Identification Number Entity Incorporation, State or Country Code Entity Emerging Growth Company Entity Address, Address Line One Entity Address, Address Line Two Entity Address, Address Line Three Entity Address, City or Town Entity Address, State or Province Entity Address, Country Entity Address, Postal Zip Code City Area Code Local Phone Number Title of 12(b) Security No Trading Symbol Flag Trading Symbol Security Exchange Name EX-101.PRE 5 fls-20230801_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE XML 6 R1.htm IDEA: XBRL DOCUMENT v3.23.2
Document and Entity Information
Aug. 01, 2023
Cover [Abstract]  
Document Type 8-K
Amendment Flag false
Document Period End Date Aug. 01, 2023
Entity Registrant Name FLOWSERVE CORP
Entity Incorporation, State or Country Code NY
Entity File Number 001-13179
Entity Tax Identification Number 31-0267900
Entity Address, Address Line One 5215 N. O’Connor Blvd.
Entity Address, Address Line Two Suite 700
Entity Address, City or Town Irving
Entity Address, State or Province TX
Entity Address, Postal Zip Code 75039
City Area Code 972
Local Phone Number 443-6500
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company false
Entity Central Index Key 0000030625
Title of 12(b) Security Common Stock, $1.25 Par Value
Trading Symbol FLS
Security Exchange Name NYSE
XML 7 a53497157_htm.xml IDEA: XBRL DOCUMENT 0000030625 2023-08-01 2023-08-01 false 0000030625 8-K 2023-08-01 FLOWSERVE CORP NY 001-13179 31-0267900 5215 N. O’Connor Blvd. Suite 700 Irving TX 75039 972 443-6500 Common Stock, $1.25 Par Value FLS NYSE false false false false false EXCEL 8 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx M4$L#!!0 ( +6 5<'04UB@0 +$ 0 9&]C4')O<',O87!P+GAM M;$V./0L",1!$_\IQO;=!P4)B0-!2L+(/>QLOD&1#LD)^OCG!CVX>;QA&WPIG M*N*I#BV&5(_C(I(/ !47BK9.7:=N')=HI6-Y #OGDK7A.YNJQ<&4GPZ4A!0W_J=0U[R;UEA_6\#MI7E!+ P04 M " "U@ %7=^39W>X K @ $0 &1O8U!R;W!S+V-O&ULS9+! M:L,P#(9?9?B>R$G8*";-I66G#08K;.QF;+4UC6-C:R1]^SE>FS*V!]C1TN]/ MGT"M\D*Y@"_!>0QD,-Y-MA^B4'[-CD1> $1U1"MCF1)#:NY=L)+2,QS 2W62 M!X2:\P>P2%)+DC #"[\06==J)51 22Y<\%HM>/\9^@S3"K!'BP-%J,H*6#=/ M].>I;^$&F&&$P<;O NJ%F*M_8G,'V"4Y1;.DQG$LQR;GT@X5O#\_O>9U"S-$ MDH/"]"L:06>/:W:=_-9LMKM'UM6\;@J^*GBUJ[G@]Z)9?621A'^_1S80RY8-[9)-NIL\!"SI^\Y%1^?H.'GS[BYBZ(:(E/)X M8-DOV]:[MR_>X%#BVR]*+ M41B1%G\@M MNN01.+5)#3(3/PB=AIAJ4!P"I DQEJ&&^+3&K!'@$WVWO@C(WXV(]ZMOFCU7 MH5A)VH3X$$8:XIQSYG/1;/L'I4;1]E6\W*.76!4!EQC?-*HU+,76>)7 \:V< M/!T3$LV4"P9!AI@S M&L%&KQMUAVC2/'K^!?F<-0HACA*FNVB<5@$_9Y>PTG!Z(++9OVX?H;5,VPLCO='U!=*Y \FIS_I,C0' MHYI9";V$5FJ?JH,@H%\;D>/N5Z> HWEL:\4*Z">P'_T=HWPJOX@L Y M?RY]SZ7ON?0]H=*W-R-]9\'3BUO>1FY;Q/NN,=K7-"XH8U=RSTS0LS0[=R2^JVE+ZU)CA* M]+',<$X>RPP[9SR2';9WH!TU^_9==N0CI3!3ET.X&D*^ VVZG=PZ.)Z8D;D* MTU*0;\/YZ<5X&N(YV02Y?9A7;>?8T='[Y\%1L*/O/)8=QXCRHB'NH8:8S\-# MAWE[7YAGE<90-!1M;*PD+$:W8+C7\2P4X&1@+: '@Z]1 O)256 Q6\8#*Y"B M?$R,1>APYY=<7^/1DN/;IF6U;J\I=QEM(E(YPFF8$V>KRMYEL<%5'<]56_*P MOFH]M!5.S_Y9KF4Q9Z;RWRT,"2Q;B%D2XDU=[=7GFYRN>B)V^I=W MP6#R_7#)1P_E.^=?]%U#KG[VW>/Z;I,[2$R<><41 71% B.5' 86%S+D4.Z2 MD 83 >LX=SFWJXPD6L_UC6'ODRWSEPVSK> U[F M$RQ#I'[!?8J*@!&K8KZZKT_Y)9P[M'OQ@2";_-;;I/;=X Q\U*M:I60K$3]+ M!WP?D@9CC%OT-%^/%&*MIK&MQMHQ#'F 6/,,H68XWX=%FAHSU8NL.8T*;T'5 M0.4_V]0-:/8--!R1!5XQF;8VH^1."CS<_N\-L,+$CN'MB[\!4$L#!!0 ( M +6 5>[0 &PO=V]R:W-H965T&UL MG9AO<^(V$,:_BL;7N6EG$K#,OR0'S! .6N9R"1/3I-=.7PA;@":VY,IR"-^^ M*T-L>F?63/,BMFSMXY]7JTXDBF V=C3'+3;*;!AL(1#XR58'!XY6,>158)./XYB#K%,VW@ M\?F[^C1_>7B9)4OY6$7/(C2;@7/ED)"O6!:91[7]C1]>* <,5)3F_\EVW[?= M=DB0I4;%AV @B(7<']G;(1%' 2WW1(!W"/!R[OV#"W@G!4;9N$)=>$,_U6O\-;P); >@5@%ZNUSJA-U:O7)._1LO4:!C"OZN( M]@KM:@5;US=IP@(^<*!P4ZY?N3/\^(%VW4\(7ZO@:V'J90(7NX17P>'A5Y=? M$(AV =%&549 $.84TXBMJRCP^!6+4HYP= J.SGG)F',ME"VHD$!95N8%5\K+ M**^CND+J%FQ=5/%0W(]\+6PI >0]BRO)<)WIW<.S/WE\FI#QP^,< >L58+US MP&8R4#I1.I]W%\0WD#>B-!FK3!J]@V-828N+WW]#"*\*PJMS"*P[@* S!<-*+]Q-R!_W(@ZP;%5EGM1R(:"HC_\ .+8M2,%";:O7*5QNIE^% M7&-DY1) <1/_GJR8NW.MX"%!]7CCFHL_,+1R8:"XLW^/-E>I81'Y4R0G#:5& ML==Q6]@DIN5B07&/SP=P!'O)TRBXP'7/PT#*E8'BEGZG LC)?*,DYF\U(NUV MZ[+;P6N]7!(H;MO/6AC#)20FCC-Y<+>TD@H7JEO9:;D&4-S ?16)0!B8,^0K ME+<6+*KDP55J>JLII M6B,PO?,QD-+B/=RAW[-$)F_!ALDU/[GIKA&Z_^9/JHB:1Y^^]F>$K\R6=$HB MO@(=M]$#6;W_,M\WC$KRK^&E,O!MG9]N.(-Y:3O _952YKUA/["+WT>&_P)0 M2P,$% @ M8 !5Y^@&_"Q @ X@P T !X;"]S='EL97,N>&ULW5=M M:]LP$/XK0C]@;F)JXI$8MD!AL(U"\V%?E5AV!'KQ9+ES^NNGLVPG:75EW8>Q MS:')W3VZNT=W)YFN6W>2_.'(N2.]DKK=T*-SS?LD:0]'KEC[SC1<>Z0R5C'G M55LG;6,Y*UMP4C)9WMQDB6)"TV*M.W6G7$L.IM-N0V]H4JPKH\^6E :#7\H4 M)X],;NB62;&W8EC+E)"G8%Z"X6"DL<1Y*GQ#%V!IGP*\"!JP'.,HH8T%8Q(R MA._]N/P9,&FM5X64,\$E#89BW3#GN-5W7AD6#\87$!GEW:GQ#&O+3HOE+3T[ M##\^R=[8DMLYS8).IF(M>05TK*B/\.M,DP#HG%%>* 6KC68#A\EC%'S8 Y?R M 5KXK;J*W5B'_2^FO-CT1=X=-8T\O1!BEHK'O;^RPF+-9O\R-%8\>2SP:0< MO(%;2AZY=>)P:?EA6;/CO9NFJ:]PSLM_D/.?K7/--;=,7I+VH_\W5_DMC)/Q M]%PZC+N.HL?X;[:)'-M[#/)73)>UYN1]76^T$D7O!9 MQP<&%Y_J?]K-#]! SCMHHB*]1GA?H$KQBR M'3Y8GKA/[I_X3O,\3;,,J^AV&V6PQ>J69? 7CX9Q P\L#V1Z6ZWQ;N,3\OH< M8#U];4*PG>*3B.T4KS4@\;J!1Y['NXWE 0^L"]CL0/YX'IBIN$^:0ERHY_U=3_ 102P,$% @ M8 !5Y>*NQS $P( L !?3T\$MP>:4#M.*2VBZD8_1!2:5K5N %(MB6/:(7->=I3W;+T]!;X"O.DQQ0FE(2S,.\,W2?S+W M\PPU1>5*(Y5;&GC3Y?YVX$G1H2)8%II%R=.B':5_'FR-9V87YTC'?8Q']>5=2(6NF9MYEJ6R!F_2 M36P@R*2*Y U+2X3[+O,&@EXN1:T/9=1,92L88!.R '<(Y M_A^[<#K3P&]'@!6^AC(,=D", MY1]XVXG\-/O4(VSV'T:$%'J6"V&%E+C?Z/F-:#R!+ ]=R_$)'0.M#,,SQ;;! M<.AHQ$5V9://8:Q#B'/Z3XRQJK"$52Q;#X&'' E<)S"D&IND53 >"CVN*!.L M>@PL(:EU&*ADMW,JI]=V<,TB]RI#FJ,,:&T'X:-:"Q4&L&]R( DNR94;4EWI M>::W=Y-[2:AU[D&P]_ :C1W-CQ^W_ %02P,$% @ M8 !5R0>FZ*M M^ $ !H !X;"]?+7_OR4Z?:!1W;J"V\R1& M:P;*9,OL[P"D6[2*+L[C,$]J%ZSB688&O-*]:A"2*+I!V#-DGNZ9HIP\_D-T M==UI?#C]LCCP#S"\7>BI160I2A4:Y$S":+8VP5+BRTR6HJ@R&8HJEG!:(.+) M(&UI5GVP3TZTYWD7-_=%KLWC":[?#'!X=/X!4$L#!!0 ( +6 5=ED'F2 M&0$ ,\# 3 6T-O;G1E;G1?5'EP97-=+GAM;*V334[#,!"%KQ)E6R4N M+%B@IAM@"UUP 6-/&JO^DV=:TMLS3MI*H!(5A4VL>-Z\SYZ7K-Z/$;#HG?78 ME!U1?!0"50=.8ATB>*ZT(3E)_)JV(DJUDUL0]\OE@U#!$WBJ*'N4Z]4SM')O MJ7CI>1M-\$V9P&)9/(W"S&I*&:,U2A+7Q<'K'Y3J1*BY<]!@9R(N6%"*JX1< M^1UPZGL[0$I&0[&1B5ZE8Y7HK4 Z6L!ZVN+*&4/;&@4ZJ+WCEAIC JFQ R!G MZ]%T,4TFGC",S[O9_,%F"LC*30H1.;$$?\>=(\G=560C2&2FKW@ALO7L^T%. M6X.^DX K @ $0 M @ &O 9&]C4')O<',O8V]R92YX;6Q02P$"% ,4 " "U M@ %7F5R<(Q & "<)P $P @ ', 0 >&PO=&AE;64O=&AE M;64Q+GAM;%!+ 0(4 Q0 ( +6 5>[0 &PO7BKL

&PO7W)E;',O=V]R:V)O M;VLN>&UL+G)E;'-02P$"% ,4 " "U@ %799!YDAD! #/ P $P M @ &]$@ 6T-O;G1E;G1?5'EP97-=+GAM;%!+!08 "0 ) #X" ( '% ! end XML 9 Show.js IDEA: XBRL DOCUMENT // Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission. Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105. var Show={};Show.LastAR=null,Show.showAR=function(a,r,w){if(Show.LastAR)Show.hideAR();var e=a;while(e&&e.nodeName!='TABLE')e=e.nextSibling;if(!e||e.nodeName!='TABLE'){var ref=((window)?w.document:document).getElementById(r);if(ref){e=ref.cloneNode(!0); e.removeAttribute('id');a.parentNode.appendChild(e)}} if(e)e.style.display='block';Show.LastAR=e};Show.hideAR=function(){Show.LastAR.style.display='none'};Show.toggleNext=function(a){var e=a;while(e.nodeName!='DIV')e=e.nextSibling;if(!e.style){}else if(!e.style.display){}else{var d,p_;if(e.style.display=='none'){d='block';p='-'}else{d='none';p='+'} e.style.display=d;if(a.textContent){a.textContent=p+a.textContent.substring(1)}else{a.innerText=p+a.innerText.substring(1)}}} XML 10 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; white-space: normal; /* word-wrap: break-word; */ } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; overflow: hidden; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 11 FilingSummary.xml IDEA: XBRL DOCUMENT 3.23.2 html 1 23 1 false 0 0 false 0 false false R1.htm 000100 - Document - Document and Entity Information Sheet http://flowserve.com/role/DocumentAndEntityInformation Document and Entity Information Cover 1 false false All Reports Book All Reports a53497157.htm a53497157ex99_1.htm fls-20230801.xsd fls-20230801_lab.xml fls-20230801_pre.xml http://xbrl.sec.gov/dei/2023 true false JSON 13 MetaLinks.json IDEA: XBRL DOCUMENT { "instance": { "a53497157.htm": { "axisCustom": 0, "axisStandard": 0, "baseTaxonomies": { "http://xbrl.sec.gov/dei/2023": 23 }, "contextCount": 1, "dts": { "inline": { "local": [ "a53497157.htm" ] }, "labelLink": { "local": [ "fls-20230801_lab.xml" ] }, "presentationLink": { "local": [ "fls-20230801_pre.xml" ] }, "schema": { "local": [ "fls-20230801.xsd" ], "remote": [ "http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd", "http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd", "http://www.xbrl.org/2003/xl-2003-12-31.xsd", "http://www.xbrl.org/2003/xlink-2003-12-31.xsd", "http://www.xbrl.org/2004/ref-2004-08-10.xsd", "http://www.xbrl.org/2005/xbrldt-2005.xsd", "http://www.xbrl.org/2006/ref-2006-02-27.xsd", "http://www.xbrl.org/lrr/arcrole/factExplanatory-2009-12-16.xsd", "http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd", "http://www.xbrl.org/lrr/role/net-2009-12-16.xsd", "https://www.xbrl.org/2020/extensible-enumerations-2.0.xsd", "https://www.xbrl.org/dtr/type/2020-01-21/types.xsd", "https://www.xbrl.org/dtr/type/2022-03-31/types.xsd", "https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd", "https://xbrl.fasb.org/srt/2023/elts/srt-roles-2023.xsd", "https://xbrl.fasb.org/srt/2023/elts/srt-types-2023.xsd", "https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd", "https://xbrl.fasb.org/us-gaap/2023/elts/us-roles-2023.xsd", "https://xbrl.fasb.org/us-gaap/2023/elts/us-types-2023.xsd", "https://xbrl.sec.gov/country/2023/country-2023.xsd", "https://xbrl.sec.gov/currency/2023/currency-2023.xsd", "https://xbrl.sec.gov/dei/2023/dei-2023.xsd", "https://xbrl.sec.gov/exch/2023/exch-2023.xsd", "https://xbrl.sec.gov/naics/2023/naics-2023.xsd", "https://xbrl.sec.gov/sic/2023/sic-2023.xsd", "https://xbrl.sec.gov/stpr/2023/stpr-2023.xsd" ] } }, "elementCount": 29, "entityCount": 1, "hidden": { "http://xbrl.sec.gov/dei/2023": 2, "total": 2 }, "keyCustom": 0, "keyStandard": 23, "memberCustom": 0, "memberStandard": 0, "nsprefix": "fls", "nsuri": "http://flowserve.com/20230801", "report": { "R1": { "firstAnchor": { "ancestors": [ "div", "div", "body", "html" ], "baseRef": "a53497157.htm", "contextRef": "c20230801to20230801", "decimals": null, "first": true, "lang": "en-US", "name": "dei:DocumentType", "reportCount": 1, "unique": true, "unitRef": null, "xsiNil": "false" }, "groupType": "document", "isDefault": "true", "longName": "000100 - Document - Document and Entity Information", "menuCat": "Cover", "order": "1", "role": "http://flowserve.com/role/DocumentAndEntityInformation", "shortName": "Document and Entity Information", "subGroupType": "", "uniqueAnchor": { "ancestors": [ "div", "div", "body", "html" ], "baseRef": "a53497157.htm", "contextRef": "c20230801to20230801", "decimals": null, "first": true, "lang": "en-US", "name": "dei:DocumentType", "reportCount": 1, "unique": true, "unitRef": null, "xsiNil": "false" } } }, "segmentCount": 0, "tag": { "dei_AmendmentFlag": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.", "label": "Amendment Flag" } } }, "localname": "AmendmentFlag", "nsuri": "http://xbrl.sec.gov/dei/2023", "presentation": [ "http://flowserve.com/role/DocumentAndEntityInformation" ], "xbrltype": "booleanItemType" }, "dei_CityAreaCode": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Area code of city", "label": "City Area Code" } } }, "localname": "CityAreaCode", "nsuri": "http://xbrl.sec.gov/dei/2023", "presentation": [ "http://flowserve.com/role/DocumentAndEntityInformation" ], "xbrltype": "normalizedStringItemType" }, "dei_CoverAbstract": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Cover page.", "label": "Cover [Abstract]" } } }, "localname": "CoverAbstract", "nsuri": "http://xbrl.sec.gov/dei/2023", "xbrltype": "stringItemType" }, "dei_DocumentFiscalPeriodFocus": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Fiscal period values are FY, Q1, Q2, and Q3. 1st, 2nd and 3rd quarter 10-Q or 10-QT statements have value Q1, Q2, and Q3 respectively, with 10-K, 10-KT or other fiscal year statements having FY.", "label": "Document Fiscal Period Focus" } } }, "localname": "DocumentFiscalPeriodFocus", "nsuri": "http://xbrl.sec.gov/dei/2023", "presentation": [ "http://flowserve.com/role/DocumentAndEntityInformation" ], "xbrltype": "fiscalPeriodItemType" }, "dei_DocumentFiscalYearFocus": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "This is focus fiscal year of the document report in YYYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.", "label": "Document Fiscal Year Focus" } } }, "localname": "DocumentFiscalYearFocus", "nsuri": "http://xbrl.sec.gov/dei/2023", "presentation": [ "http://flowserve.com/role/DocumentAndEntityInformation" ], "xbrltype": "gYearItemType" }, "dei_DocumentPeriodEndDate": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.", "label": "Document Period End Date" } } }, "localname": "DocumentPeriodEndDate", "nsuri": "http://xbrl.sec.gov/dei/2023", "presentation": [ "http://flowserve.com/role/DocumentAndEntityInformation" ], "xbrltype": "dateItemType" }, "dei_DocumentType": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.", "label": "Document Type" } } }, "localname": "DocumentType", "nsuri": "http://xbrl.sec.gov/dei/2023", "presentation": [ "http://flowserve.com/role/DocumentAndEntityInformation" ], "xbrltype": "submissionTypeItemType" }, "dei_EntityAddressAddressLine1": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Address Line 1 such as Attn, Building Name, Street Name", "label": "Entity Address, Address Line One" } } }, "localname": "EntityAddressAddressLine1", "nsuri": "http://xbrl.sec.gov/dei/2023", "presentation": [ "http://flowserve.com/role/DocumentAndEntityInformation" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityAddressAddressLine2": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Address Line 2 such as Street or Suite number", "label": "Entity Address, Address Line Two" } } }, "localname": "EntityAddressAddressLine2", "nsuri": "http://xbrl.sec.gov/dei/2023", "presentation": [ "http://flowserve.com/role/DocumentAndEntityInformation" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityAddressAddressLine3": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Address Line 3 such as an Office Park", "label": "Entity Address, Address Line Three" } } }, "localname": "EntityAddressAddressLine3", "nsuri": "http://xbrl.sec.gov/dei/2023", "presentation": [ "http://flowserve.com/role/DocumentAndEntityInformation" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityAddressCityOrTown": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Name of the City or Town", "label": "Entity Address, City or Town" } } }, "localname": "EntityAddressCityOrTown", "nsuri": "http://xbrl.sec.gov/dei/2023", "presentation": [ "http://flowserve.com/role/DocumentAndEntityInformation" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityAddressCountry": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "ISO 3166-1 alpha-2 country code.", "label": "Entity Address, Country" } } }, "localname": "EntityAddressCountry", "nsuri": "http://xbrl.sec.gov/dei/2023", "presentation": [ "http://flowserve.com/role/DocumentAndEntityInformation" ], "xbrltype": "countryCodeItemType" }, "dei_EntityAddressPostalZipCode": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Code for the postal or zip code", "label": "Entity Address, Postal Zip Code" } } }, "localname": "EntityAddressPostalZipCode", "nsuri": "http://xbrl.sec.gov/dei/2023", "presentation": [ "http://flowserve.com/role/DocumentAndEntityInformation" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityAddressStateOrProvince": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Name of the state or province.", "label": "Entity Address, State or Province" } } }, "localname": "EntityAddressStateOrProvince", "nsuri": "http://xbrl.sec.gov/dei/2023", "presentation": [ "http://flowserve.com/role/DocumentAndEntityInformation" ], "xbrltype": "stateOrProvinceItemType" }, "dei_EntityCentralIndexKey": { "auth_ref": [ "r1" ], "lang": { "en-us": { "role": { "documentation": "A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.", "label": "Entity Central Index Key" } } }, "localname": "EntityCentralIndexKey", "nsuri": "http://xbrl.sec.gov/dei/2023", "presentation": [ "http://flowserve.com/role/DocumentAndEntityInformation" ], "xbrltype": "centralIndexKeyItemType" }, "dei_EntityEmergingGrowthCompany": { "auth_ref": [ "r1" ], "lang": { "en-us": { "role": { "documentation": "Indicate if registrant meets the emerging growth company criteria.", "label": "Entity Emerging Growth Company" } } }, "localname": "EntityEmergingGrowthCompany", "nsuri": "http://xbrl.sec.gov/dei/2023", "presentation": [ "http://flowserve.com/role/DocumentAndEntityInformation" ], "xbrltype": "booleanItemType" }, "dei_EntityFileNumber": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.", "label": "Entity File Number" } } }, "localname": "EntityFileNumber", "nsuri": "http://xbrl.sec.gov/dei/2023", "presentation": [ "http://flowserve.com/role/DocumentAndEntityInformation" ], "xbrltype": "fileNumberItemType" }, "dei_EntityIncorporationStateCountryCode": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Two-character EDGAR code representing the state or country of incorporation.", "label": "Entity Incorporation, State or Country Code" } } }, "localname": "EntityIncorporationStateCountryCode", "nsuri": "http://xbrl.sec.gov/dei/2023", "presentation": [ "http://flowserve.com/role/DocumentAndEntityInformation" ], "xbrltype": "edgarStateCountryItemType" }, "dei_EntityRegistrantName": { "auth_ref": [ "r1" ], "lang": { "en-us": { "role": { "documentation": "The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.", "label": "Entity Registrant Name" } } }, "localname": "EntityRegistrantName", "nsuri": "http://xbrl.sec.gov/dei/2023", "presentation": [ "http://flowserve.com/role/DocumentAndEntityInformation" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityTaxIdentificationNumber": { "auth_ref": [ "r1" ], "lang": { "en-us": { "role": { "documentation": "The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.", "label": "Entity Tax Identification Number" } } }, "localname": "EntityTaxIdentificationNumber", "nsuri": "http://xbrl.sec.gov/dei/2023", "presentation": [ "http://flowserve.com/role/DocumentAndEntityInformation" ], "xbrltype": "employerIdItemType" }, "dei_LocalPhoneNumber": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Local phone number for entity.", "label": "Local Phone Number" } } }, "localname": "LocalPhoneNumber", "nsuri": "http://xbrl.sec.gov/dei/2023", "presentation": [ "http://flowserve.com/role/DocumentAndEntityInformation" ], "xbrltype": "normalizedStringItemType" }, "dei_NoTradingSymbolFlag": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Boolean flag that is true only for a security having no trading symbol.", "label": "No Trading Symbol Flag" } } }, "localname": "NoTradingSymbolFlag", "nsuri": "http://xbrl.sec.gov/dei/2023", "presentation": [ "http://flowserve.com/role/DocumentAndEntityInformation" ], "xbrltype": "trueItemType" }, "dei_PreCommencementIssuerTenderOffer": { "auth_ref": [ "r3" ], "lang": { "en-us": { "role": { "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.", "label": "Pre-commencement Issuer Tender Offer" } } }, "localname": "PreCommencementIssuerTenderOffer", "nsuri": "http://xbrl.sec.gov/dei/2023", "presentation": [ "http://flowserve.com/role/DocumentAndEntityInformation" ], "xbrltype": "booleanItemType" }, "dei_PreCommencementTenderOffer": { "auth_ref": [ "r4" ], "lang": { "en-us": { "role": { "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.", "label": "Pre-commencement Tender Offer" } } }, "localname": "PreCommencementTenderOffer", "nsuri": "http://xbrl.sec.gov/dei/2023", "presentation": [ "http://flowserve.com/role/DocumentAndEntityInformation" ], "xbrltype": "booleanItemType" }, "dei_Security12bTitle": { "auth_ref": [ "r0" ], "lang": { "en-us": { "role": { "documentation": "Title of a 12(b) registered security.", "label": "Title of 12(b) Security" } } }, "localname": "Security12bTitle", "nsuri": "http://xbrl.sec.gov/dei/2023", "presentation": [ "http://flowserve.com/role/DocumentAndEntityInformation" ], "xbrltype": "securityTitleItemType" }, "dei_SecurityExchangeName": { "auth_ref": [ "r2" ], "lang": { "en-us": { "role": { "documentation": "Name of the Exchange on which a security is registered.", "label": "Security Exchange Name" } } }, "localname": "SecurityExchangeName", "nsuri": "http://xbrl.sec.gov/dei/2023", "presentation": [ "http://flowserve.com/role/DocumentAndEntityInformation" ], "xbrltype": "edgarExchangeCodeItemType" }, "dei_SolicitingMaterial": { "auth_ref": [ "r5" ], "lang": { "en-us": { "role": { "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.", "label": "Soliciting Material" } } }, "localname": "SolicitingMaterial", "nsuri": "http://xbrl.sec.gov/dei/2023", "presentation": [ "http://flowserve.com/role/DocumentAndEntityInformation" ], "xbrltype": "booleanItemType" }, "dei_TradingSymbol": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Trading symbol of an instrument as listed on an exchange.", "label": "Trading Symbol" } } }, "localname": "TradingSymbol", "nsuri": "http://xbrl.sec.gov/dei/2023", "presentation": [ "http://flowserve.com/role/DocumentAndEntityInformation" ], "xbrltype": "tradingSymbolItemType" }, "dei_WrittenCommunications": { "auth_ref": [ "r6" ], "lang": { "en-us": { "role": { "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.", "label": "Written Communications" } } }, "localname": "WrittenCommunications", "nsuri": "http://xbrl.sec.gov/dei/2023", "presentation": [ "http://flowserve.com/role/DocumentAndEntityInformation" ], "xbrltype": "booleanItemType" } }, "unitCount": 0 } }, "std_ref": { "r0": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "12", "Subsection": "b", "role": "http://www.xbrl.org/2003/role/presentationRef" }, "r1": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "12", "Subsection": "b-2", "role": "http://www.xbrl.org/2003/role/presentationRef" }, "r2": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "12", "Subsection": "d1-1", "role": "http://www.xbrl.org/2003/role/presentationRef" }, "r3": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "13e", "Subsection": "4c", "role": "http://www.xbrl.org/2003/role/presentationRef" }, "r4": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "14d", "Subsection": "2b", "role": "http://www.xbrl.org/2003/role/presentationRef" }, "r5": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "14a", "Subsection": "12", "role": "http://www.xbrl.org/2003/role/presentationRef" }, "r6": { "Name": "Securities Act", "Number": "230", "Publisher": "SEC", "Section": "425", "role": "http://www.xbrl.org/2003/role/presentationRef" } }, "version": "2.2" } ZIP 14 0001157523-23-001207-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001157523-23-001207-xbrl.zip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end