Significant Accounting Policies and Accounting Developments (Tables)

12 Months Ended

Dec. 31, 2017

Schedule of Estimated Useful Lives of Assets

Generally, the estimated useful lives of the assets are:



Buildings and improvements	10 to 40 years
Machinery, equipment and tooling	3 to 14 years
Software, furniture and fixtures and other	3 to 7 years

Calculation of Net Earnings per Common Share and Weighted Average Common Share Outstanding

The following is a reconciliation of net earnings of Flowserve Corporation and weighted average shares for calculating basic net earnings per common share.

Earnings per weighted average common share outstanding was calculated as follows:



	Year Ended December 31,
	2017		2016		2015
	(Amounts in thousands, except per share data)
Net earnings of Flowserve Corporation	$	2,652	$	132,455	$	258,411
Dividends on restricted shares not expected to vest	—		6		12
Earnings attributable to common and participating shareholders	$	2,652	$	132,461	$	258,423
Weighted average shares:
Common stock	130,600		130,147		132,567
Participating securities	103		285		507
Denominator for basic earnings per common share	130,703		130,432		133,074
Effect of potentially dilutive securities	655		543		737
Denominator for diluted earnings per common share	131,358		130,975		133,811
Net earnings per share attributable to Flowserve Corporation common shareholders:
Basic	$	0.02	$	1.02	$	1.94
Diluted	0.02		1.01		1.93