FLOWSERVE CORP Goodwill & Intangibles Disclosure
| FPD | FCD | Total | |||||||||||||||
| Balance as of December 31, 2023 | $ | 779,996 | $ | 402,229 | $ | 1,182,225 | |||||||||||
Acquisition(1) | — | 127,249 | 127,249 | ||||||||||||||
| Currency translation and other | (14,256) | (8,923) | (23,179) | ||||||||||||||
| Balance as of December 31, 2024 | $ | 765,740 | $ | 520,555 | $ | 1,286,295 | |||||||||||
Acquisition(1) | 47,034 | 8,168 | 55,202 | ||||||||||||||
| Currency translation and other | 30,228 | 20,263 | 50,491 | ||||||||||||||
| Balance as of December 31, 2025 | $ | 843,002 | $ | 548,986 | $ | 1,391,988 | |||||||||||
| December 31, 2025 | December 31, 2024 | ||||||||||||||||||||||||||||
| Useful Life (Years) | Ending Gross Amount | Accumulated Amortization | Ending Gross Amount | Accumulated Amortization | |||||||||||||||||||||||||
| (Amounts in thousands, except years) | |||||||||||||||||||||||||||||
| Finite-lived intangible assets: | |||||||||||||||||||||||||||||
| Engineering drawings(1) | 10-22 | $ | 92,205 | $ | (92,205) | $ | 89,529 | $ | (89,529) | ||||||||||||||||||||
| Existing customer relationships(2) | 5-10 | 151,216 | (90,137) | 126,761 | (79,039) | ||||||||||||||||||||||||
| Patents | 9-16 | 25,836 | (25,836) | 25,086 | (25,086) | ||||||||||||||||||||||||
| Other | 1-40 | 101,858 | (63,839) | 102,634 | (58,800) | ||||||||||||||||||||||||
| $ | 371,115 | $ | (272,017) | $ | 344,010 | $ | (252,454) | ||||||||||||||||||||||
| Indefinite-lived intangible assets(3) | $ | 101,100 | $ | (1,723) | $ | 98,721 | $ | (1,673) | |||||||||||||||||||||
| Amortization Expense | |||||
| (Amounts in thousands) | |||||
| Actual for year ended December 31, 2025 | $ | 16,218 | |||
| Estimated for year ended December 31, 2026 | 14,899 | ||||
| Estimated for year ended December 31, 2027 | 10,857 | ||||
| Estimated for year ended December 31, 2028 | 10,857 | ||||
| Estimated for year ended December 31, 2029 | 10,711 | ||||
| Estimated for year ended December 31, 2030 | 10,157 | ||||
| Thereafter | 41,617 | ||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 17, 2026 | Showing above |
| 2024 | Feb 26, 2025 | |
| 2023 | Feb 20, 2024 | |
| 2022 | Mar 7, 2023 | |
| 2021 | Feb 23, 2022 | |
| 2020 | Feb 23, 2021 | |
| 2019 | Feb 18, 2020 | |
| 2018 | Feb 20, 2019 | |
| 2017 | Feb 28, 2018 | |
| 2016 | Feb 16, 2017 | |
| 2015 | Feb 18, 2016 | |
About Goodwill & Intangibles Disclosures
Goodwill and intangible asset disclosures reveal the premium paid in acquisitions and how management assesses whether that premium retains its value. Since goodwill is no longer amortized under US GAAP, the annual impairment test is the only mechanism that adjusts carrying values downward — making the assumptions behind that test critically important for investors.
Key signals: a history of goodwill impairments suggests management consistently overpays for acquisitions. Watch the gap between reporting unit fair value and carrying amount — when fair value exceeds carrying amount by less than 10-20%, a small decline in business performance could trigger a write-down. For finite-lived intangibles, examine useful life assumptions across customer relationships, technology, and trade names; aggressive estimates inflate near-term earnings. Compare total intangibles-to-total-assets ratios against peers to assess acquisition dependency. Rising goodwill as a percentage of equity can signal balance sheet fragility.