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In millions, except per share items | Dec-31-22 | Dec-31-21 | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 |
| 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K |
Sales | 3,615.1 | 3,541.1 | 3,728.1 | 3,939.7 | 3,835.7 | 3,660.8 | 3,990.5 | 4,557.8 |
Sales growth | 2.1% | -5.0% | -5.4% | 2.7% | 4.8% | -8.3% | -12.4% | -6.6% |
Cost of sales | -2,620.8 | -2,491.3 | -2,611.4 | -2,650.4 | -2,644.8 | -2,571.9 | -2,753.7 | -3,080.3 |
Gross profit | 994.3 | 1,049.7 | 1,116.8 | 1,289.3 | 1,190.9 | 1,089.0 | 1,236.8 | 1,477.5 |
Gross margin | 27.5% | 29.6% | 30.0% | 32.7% | 31.0% | 29.7% | 31.0% | 32.4% |
Selling, general and administrative expense | 815.5 | 797.1 | 878.2 | 913.2 | 966.6 | 901.7 | 965.4 | 972.7 |
Gain on sale of business | | 1.8 | | | -7.7 | 141.3 | -7.7 | |
Net earnings from affiliates | 18.5 | 16.3 | 11.8 | 10.5 | 11.1 | 12.6 | 12.9 | 9.9 |
Operating income | 197.2 | 270.8 | 250.3 | 386.6 | 227.7 | 341.1 | 276.7 | 514.7 |
Operating margin | 5.5% | 7.6% | 6.7% | 9.8% | 5.9% | 9.3% | 6.9% | 11.3% |
Interest expense | -46.2 | -57.6 | -56.2 | -55.0 | -58.2 | -59.7 | -60.1 | -65.3 |
Interest income | 4.0 | 2.8 | 4.2 | 8.4 | 6.5 | 3.4 | 2.8 | 2.1 |
Other income (expense), net | -0.6 | -36.1 | 5.2 | -17.6 | -19.6 | -21.8 | -6.4 | -39.1 |
Earnings before income taxes | 154.4 | 133.6 | 202.3 | 322.4 | 156.4 | 263.0 | 212.9 | 412.4 |
(Provision for) benefit from income taxes | 43.6 | 2.6 | -61.4 | -75.5 | -46.6 | -258.7 | -77.4 | -148.4 |
Tax rate | | | 30.4% | 23.4% | 29.8% | 98.4% | 36.3% | 36.0% |
Net earnings, including noncontrolling interests | 198.0 | 136.2 | 140.9 | 246.9 | 109.9 | 4.3 | 135.5 | 264.0 |
Less: Net earnings attributable to noncontrolling interests | -9.3 | -10.2 | -10.5 | -8.1 | -5.4 | -1.7 | -3.1 | -5.6 |
Net earnings attributable to Flowserve Corporation | 188.7 | 125.9 | 130.4 | 238.8 | 104.5 | 2.7 | 132.5 | 258.4 |
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Net earnings per share attributable to Flowserve Corporation common shareholders: | | | | | | | | |
Basic (in dollars per share) | $1.44 | $0.97 | $1.00 | $1.82 | $0.80 | $0.02 | $1.02 | $1.94 |
Diluted (in dollars per share) | $1.44 | $0.96 | $1.00 | $1.81 | $0.80 | $0.02 | $1.01 | $1.93 |
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Weighted average shares - basic (in shares) | 130.6 | 130.3 | 130.4 | 131.0 | 130.8 | 130.7 | 130.4 | 133.1 |
Weighted average shares - diluted (in shares) | 131.3 | 130.9 | 131.1 | 131.7 | 131.3 | 131.4 | 131.0 | 133.8 |
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