Flowserve Corporation (FLS) financial statements (2022 and earlier)

Company profile

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

Balance sheet (Statement of financial position) ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments6581,095671620703367
Cash and cash equivalents6581,095671620703367
Receivables739753796792857883
Inventory, net of allowances, customer advances and progress billings678667661634884898
Inventory678667661634884898
Other undisclosed current assets313388378337114150
Total current assets:2,3892,9042,5052,3832,5592,298
Noncurrent Assets
Finance lease, right-of-use asset16 12
Operating lease, right-of-use asset194208186
Property, plant and equipment 557572610672725
Intangible assets, net (including goodwill)1,3491,3931,3741,3881,4281,420
Goodwill1,1961,2251,1931,1981,2181,205
Intangible assets, net (excluding goodwill)152168181191210215
Deferred income tax assets4431 
Other noncurrent assets258221227190200183
Other undisclosed noncurrent assets500 43455284
Total noncurrent assets:2,3612,4102,4142,2332,3522,411
TOTAL ASSETS:4,7505,3154,9204,6164,9104,709
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities8559038498101,1671,093
Accounts payable410440448419443412
Accrued liabilities445463401391724681
Deferred revenue203194217
Debt41911687685
Contract with customer, liability202
Other undisclosed current liabilities333536   
Total current liabilities:1,1321,1421,1131,0811,2431,178
Noncurrent Liabilities
Long-term debt and lease obligation1,4291,8941,5251,4151,5001,485
Long-term debt, excluding current maturities1,2621,7181,3661,4151,5001,485
Finance lease, liability  7
Operating lease, liability167176152
Liabilities, other than long-term debt  310460497408
Deferred tax liabilities, net15915620
Liability for uncertainty in income taxes  42587394
Liability, pension and other postretirement and postemployment benefits  200183204217
Accrued environmental loss contingencies  29222633
Other liabilities  40383845
Other undisclosed noncurrent liabilities185340156   
Total noncurrent liabilities:1,7812,4101,9911,8751,9971,893
Total liabilities:2,9123,5523,1042,9553,2403,072
Stockholders' equity
Stockholders' equity attributable to parent, including:1,8041,7321,7901,6421,6551,616
Common stock221221221221221221
Treasury stock, value(2,058)(2,059)(2,052)(2,049)(2,060)(2,079)
Additional paid in capital506502501495488492
Accumulated other comprehensive loss(564)(594)(584)(574)(505)(625)
Retained earnings3,6913,6563,6963,5433,5043,598
Other undisclosed stockholders' equity attributable to parent768769
Stockholders' equity attributable to noncontrolling interest333026181621
Total stockholders' equity:1,8371,7631,8161,6611,6711,637
TOTAL LIABILITIES AND EQUITY:4,7505,3154,9204,6164,9104,709

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

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Revenues3,5413,7283,9453,8333,6613,990
Revenue, net3,6613,990
Cost of revenue
(Cost of Goods and Services Sold)
(2,491)(2,611)(2,649)(2,645)(2,575)(2,759)
Gross profit:1,0501,1171,2951,1881,0851,231
Operating expenses(795)(878)(900)(951)(763)(976)
Other undisclosed operating income161210111313
Operating income:271250406248335268
Nonoperating income (expense)(66)(31)(6)(56)(49)10
Foreign currency transaction gain (loss), before tax(30)(21)11(36)(33)8
Other nonoperating income (expense)(36)(10)(18)(20)(16)2
Interest and debt expense(104)(57)(55)(58)(60)(60)
Other undisclosed income from continuing operations before equity method investments, income taxes3325    
Income from continuing operations before equity method investments, income taxes:134187345134226218
Income from equity method investments161210111313
Income from continuing operations before income taxes:150199355145239231
Income tax expense (benefit)3(60)(80)(51)(259)(77)
Income (loss) before gain (loss) on sale of properties:15213927594(20)154
Other undisclosed net income (loss)(16)(12)(13)3124(18)
Net income:1361272621254136
Net loss attributable to noncontrolling interest(10)(10)(8)(5)(2)(3)
Net income attributable to parent:1261162541203132
Other undisclosed net income available to common stockholders, basic     0
Net income available to common stockholders, diluted:1261162541203132

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Net income:1361272621254136
Other comprehensive income (loss)45(9)(10)(68)120(86)
Comprehensive income:1811182525712450
Comprehensive loss, net of tax, attributable to noncontrolling interest(9)(11)(9)(6)(2)(4)
Comprehensive income, net of tax, attributable to parent:1721072435112246

Statements sources

The financial statements are based on the company's filings with the 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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