Flowserve Corporation (FLS) Financial Statements (2024 and earlier)

Company Profile

Business Address 5215 N. O'CONNOR BLVD.
IRVING, TX 75039
State of Incorp. NY
Fiscal Year End December 31
Industry (SIC) 3561 - Pumps and Pumping Equipment (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in millions)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments4356581,095671620703
Cash and cash equivalents4356581,095671620703
Receivables869739753796792857
Inventory, net of allowances, customer advances and progress billings803678667661634884
Inventory803678667661634884
Other undisclosed current assets344313388378337114
Total current assets:2,4512,3892,9042,5052,3832,559
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization1816 12
Operating lease, right-of-use asset175194208186
Property, plant and equipment   557572610672
Intangible assets, net (including goodwill)1,3031,3491,3931,3741,3881,428
Goodwill1,1681,1961,2251,1931,1981,218
Intangible assets, net (excluding goodwill)135152168181191210
Derivative instruments and hedges 68     
Deferred income tax assets1494431 
Other noncurrent assets212258221227190200
Other undisclosed noncurrent assets415500 434552
Total noncurrent assets:2,3402,3612,4102,4142,2332,352
TOTAL ASSETS:4,7914,7505,3154,9204,6164,910
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities9048559038498101,167
Accounts payable477410440448419443
Accrued liabilities428445463401391724
Deferred revenue257203194217
Debt49419116876
Contract with customer, liability202
Other undisclosed current liabilities33333536  
Total current liabilities:1,2431,1321,1421,1131,0811,243
Noncurrent Liabilities
Long-term debt and lease obligation1,2241,4291,8941,5251,4151,500
Long-term debt, excluding current maturities1,2241,2621,7181,3661,4151,500
Finance lease, liability    7
Liabilities, other than long-term debt465  310460497
Deferred tax liabilities, net159156
Deferred income tax liabilities8   
Liability for uncertainty in income taxes38  425873
Liability, pension and other postretirement and postemployment benefits142  200183204
Accrued environmental loss contingencies90  292226
Other liabilities32  403838
Operating lease, liability155167176152
Other undisclosed noncurrent liabilities  185340156  
Total noncurrent liabilities:1,6891,7812,4101,9911,8751,997
Total liabilities:2,9322,9123,5523,1042,9553,240
Equity
Equity, attributable to parent, including:1,8251,8041,7321,7901,6421,655
Common stock221221221221221221
Treasury stock, value(2,037)(2,058)(2,059)(2,052)(2,049)(2,060)
Additional paid in capital507506502501495488
Accumulated other comprehensive loss(648)(564)(594)(584)(574)(505)
Retained earnings3,7743,6913,6563,6963,5433,504
Other undisclosed equity, attributable to parent776876
Equity, attributable to noncontrolling interest343330261816
Total equity:1,8591,8371,7631,8161,6611,671
TOTAL LIABILITIES AND EQUITY:4,7914,7505,3154,9204,6164,910

Income Statement (P&L) ($ in millions)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues3,6153,5413,7283,9453,8333,661
Revenue, net3,661
Cost of revenue
(Cost of Goods and Services Sold)
(2,621)(2,491)(2,611)(2,649)(2,645)(2,575)
Gross profit:9941,0501,1171,2951,1881,085
Operating expenses(816)(795)(878)(900)(951)(763)
Other undisclosed operating income181612101113
Operating income:197271250406248335
Nonoperating income (expense)27(66)(31)(6)(56)(49)
Gain (loss), foreign currency transaction, before tax28(30)(21)11(36)(33)
Other nonoperating expense(1)(36)(10)(18)(20)(16)
Interest and debt expense(46)(104)(57)(55)(58)(60)
Other undisclosed income from continuing operations before equity method investments, income taxes  3325   
Income from continuing operations before equity method investments, income taxes:178134187345134226
Income from equity method investments181612101113
Income from continuing operations before income taxes:197150199355145239
Income tax expense (benefit)443(60)(80)(51)(259)
Income (loss) from continuing operations:24015213927594(20)
Income (loss) before gain (loss) on sale of properties:15213927594(20)
Other undisclosed net income (loss)(42)(16)(12)(13)3124
Net income:1981361272621254
Net loss attributable to noncontrolling interest(9)(10)(10)(8)(5)(2)
Net income available to common stockholders, diluted:1891261162541203

Comprehensive Income ($ in millions)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:1981361272621254
Other comprehensive income (loss)(83)45(9)(10)(68)120
Comprehensive income:11518111825257124
Comprehensive loss, net of tax, attributable to noncontrolling interest(11)(9)(11)(9)(6)(2)
Comprehensive income, net of tax, attributable to parent:10417210724351122

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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