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 thousands)

3/31/2024
Q1
12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments 545,678   434,971 
Cash and cash equivalents 545,678   434,971 
Receivables881,869868,855887,867904,184868,632770,152
Inventory, net of allowances, customer advances and progress billings879,937916,107914,288882,252803,198779,449
Inventory879,937916,107914,288882,252803,198779,449
Other undisclosed current assets396,293853,563777,229755,799344,171674,183
Total current assets:2,703,7772,638,5252,579,3842,542,2352,450,9722,223,784
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization 18,695   17,576 
Operating lease, right-of-use asset156,430156,784164,391168,682174,980173,442
Property, plant and equipment 492,323500,075496,434 473,224
Intangible assets, net (including goodwill)1,304,4731,286,9371,302,3471,301,9761,302,6271,269,643
Goodwill1,182,2251,164,3881,177,1311,173,7181,168,1241,135,538
Intangible assets, net (excluding goodwill)122,248122,549125,216128,258134,503134,105
Derivative instruments and hedges     68,200 
Deferred income tax assets218,358171,387158,835151,852149,29044,833
Other noncurrent assets219,523219,257214,983214,570211,820321,062
Other undisclosed noncurrent assets 487,463   415,169 
Total noncurrent assets:2,404,9422,326,6882,340,6312,333,5142,339,6622,282,204
TOTAL ASSETS:5,108,7194,965,2134,920,0154,875,7494,790,6344,505,988
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities1,052,254943,178934,143944,070904,325796,907
Accounts payable547,824481,337492,623488,761476,747414,372
Accrued liabilities504,430461,841441,520455,309427,578382,535
Deferred revenue287,697270,725269,725291,638256,963216,094
Debt66,24361,21355,78153,38749,33547,962
Other undisclosed current liabilities32,38231,69932,44032,62632,52830,723
Total current liabilities:1,438,5761,306,8151,292,0891,321,7211,243,1511,091,686
Noncurrent Liabilities
Long-term debt and lease obligation1,167,3071,266,4231,245,2531,209,1691,224,1511,387,576
Long-term debt, excluding current maturities1,167,3071,266,4231,245,2531,209,1691,224,1511,232,248
Liabilities, other than long-term debt527,785138,907146,255150,536464,725 
Deferred income tax liabilities 1,335   7,901 
Liability for uncertainty in income taxes 51,584   37,604 
Liability, pension and other postretirement and postemployment benefits 202,583   142,204 
Accrued environmental loss contingencies 93,989   90,207 
Other liabilities 39,629   31,613 
Operating lease, liability138,665138,907146,255150,536155,196155,328
Other undisclosed noncurrent liabilities 339,777314,408314,626 179,639
Total noncurrent liabilities:1,695,0921,745,1071,705,9161,674,3311,688,8761,722,543
Total liabilities:3,133,6683,051,9222,998,0052,996,0522,932,0272,814,229
Equity
Equity, attributable to parent, including:1,936,1001,874,1071,884,4521,846,3181,824,9931,657,125
Common stock220,991220,991220,991220,991220,991220,991
Treasury stock, value(2,014,474)(2,014,879)(2,014,932)(2,016,517)(2,036,882)(2,037,758)
Additional paid in capital506,525501,378495,281492,147507,484506,744
Accumulated other comprehensive loss(639,601)(659,653)(623,687)(631,534)(647,788)(718,619)
Retained earnings3,854,7173,818,3923,798,9843,774,3793,774,2093,678,817
Other undisclosed equity, attributable to parent7,9427,8787,8156,8526,9796,950
Equity, attributable to noncontrolling interest38,95139,18437,55833,37933,61434,634
Total equity:1,975,0511,913,2911,922,0101,879,6971,858,6071,691,759
TOTAL LIABILITIES AND EQUITY:5,108,7194,965,2134,920,0154,875,7494,790,6344,505,988

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

3/31/2024
Q1
12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
Revenues1,165,1781,094,7181,080,376980,3051,038,959872,881
Cost of revenue
(Cost of Goods and Services Sold)
(825,635)(777,024)(757,616)(683,475)(743,717)(633,304)
Gross profit:339,543317,694322,760296,830295,242239,577
Operating expenses(234,745)(252,065)(230,082)(244,268)(193,589)(221,142)
Other undisclosed operating income4,6654,6273,9704,6243,6485,782
Operating income:109,46370,25696,64857,186105,30124,217
Nonoperating income (expense)(5,268)(13,710)(5,543)(8,020)(953)28,676
Gain, foreign currency transaction, before tax 17,331   27,758 
Other nonoperating income (expense)(22,599)(13,710)(5,543)(8,020)(28,711)28,676
Interest and debt expense(16,885)(17,273)(16,554)(16,211)(12,910)(11,582)
Income from continuing operations before equity method investments, income taxes:87,31039,27374,55132,95591,43841,311
Income from equity method investments 17,894   18,4695,782
Income from continuing operations before income taxes:105,20439,27374,55132,955109,90747,093
Income tax expense (benefit)(3,991)11,186(21,304)(4,453)60,257(1,817)
Income from continuing operations:101,21350,45953,24728,502170,16445,276
Income before gain (loss) on sale of properties:45,276
Other undisclosed net income (loss)(33,769)2,1341,9071,494(45,202)(4,641)
Net income:67,44452,59355,15429,996124,96240,635
Net loss attributable to noncontrolling interest(4,827)(6,437)(3,951)(3,230)(3,632)(2,235)
Net income available to common stockholders, diluted:62,61746,15651,20326,766121,33038,400

Comprehensive Income ($ in thousands)

3/31/2024
Q1
12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
Net income:67,44452,59355,15429,996124,96240,635
Other comprehensive income (loss)14,996(40,777)8,09213,09370,836(83,092)
Comprehensive income (loss):82,44011,81663,24643,089195,798(42,457)
Comprehensive income (loss), net of tax, attributable to noncontrolling interest230(1,626)(4,196)(68)(3,638)(2,144)
Comprehensive income (loss), net of tax, attributable to parent:82,67010,19059,05043,021192,160(44,601)

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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