FLOWSERVE CORP (FLS) [Rocket]

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
Revenues:
FPD	2,518.0	2,468.1	2,673.7	2,704.4	2,620.5	2,477.7
Flow Control	1,097.1	1,073.0	1,054.4	1,235.3	1,215.2	1,183.1	1,227.5	1,410.2
Engineered Product							1,963.1	2,209.8
Other							799.9	937.8
Total revenues	3,615.1	3,541.1	3,728.1	3,939.7	3,835.7	3,660.8	3,990.5	4,557.8
Revenue growth [+]	2.1%	-5.0%	-5.4%	2.7%	4.8%	-8.3%	-12.4%	-6.6%
FPD	2.0%	-7.7%	-1.1%	3.2%	5.8%
Flow Control	2.3%	1.8%	-14.6%	1.6%	2.7%	-3.6%	-13.0%	-12.4%
Engineered Product							-11.2%	-11.9%
Industrial Product							-14.7%	23.2%
Cost of goods sold	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	815.5	797.1	878.2	913.2	966.6	901.7	965.4	972.7
Equity in earnings	18.5	16.3	11.8	10.5	11.1	12.6	12.9	9.9
Other operating expenses	-18.5	-19.9	-11.8	-10.5	4.3	-295.2	2.4	-9.9
EBITDA [+]	288.2	372.4	351.0	492.5	332.4	600.9	385.8	641.8
EBITDA growth	-22.6%	6.1%	-28.7%	48.2%	-44.7%	55.8%	-39.9%	-28.3%
EBITDA margin	8.0%	10.5%	9.4%	12.5%	8.7%	16.4%	9.7%	14.1%
Depreciation	79.5	86.4	87.2	92.1	98.4	103.2	102.9	105.1
EBITA	208.7	286.0	263.9	400.4	234.1	497.8	282.9	536.7
EBITA margin	5.8%	8.1%	7.1%	10.2%	6.1%	13.6%	7.1%	11.8%
Amortization of intangibles	11.4	13.4	13.6	13.8	14.1	15.3	13.9	22.0
EBIT [+]	197.2	272.6	250.3	386.6	220.0	482.5	269.0	514.7
EBIT growth	-27.6%	8.9%	-35.3%	75.8%	-54.4%	79.3%	-47.7%	-34.5%
EBIT margin	5.5%	7.7%	6.7%	9.8%	5.7%	13.2%	6.7%	11.3%
Non-recurring items [+]		1.8			-7.7	141.3	-7.7
Loss (gain) on sale of business		1.8			-7.7	141.3	-7.7
Interest expense, net [+]	42.3	54.9	52.0	46.6	51.7	56.3	57.3	63.2
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	-82.3	4.0	-17.6	-19.6	-21.8	-6.4	-39.1
Pre-tax income	154.4	133.6	202.3	322.4	156.4	263.0	212.9	412.4
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%
Minority interest	9.3	10.2	10.5	8.1	5.4	1.7	3.1	5.6
Net income	188.7	125.9	130.4	238.8	104.5	2.7	132.5	258.4
Net margin	5.2%	3.6%	3.5%	6.1%	2.7%	0.1%	3.3%	5.7%

Basic EPS [+]	$1.44	$0.97	$1.00	$1.82	$0.80	$0.02	$1.02	$1.94
Growth	49.4%	-3.4%	-45.1%	128.2%	3837.1%	-98.0%	-47.7%	-48.2%
Diluted EPS [+]	$1.44	$0.96	$1.00	$1.81	$0.80	$0.02	$1.01	$1.93
Growth	49.3%	-3.3%	-45.1%	127.7%	3843.3%	-98.0%	-47.6%	-48.1%

Dividends per share [+]	$0.80	$0.80	$0.80	$0.76	$0.76	$0.76	$0.76	$0.72
Growth	0.0%	0.0%	5.3%	0.0%	0.0%	0.0%	5.6%	12.5%

Shares outstanding (basic) [+]	130.6	130.3	130.4	131.0	130.8	130.7	130.4	133.1
Growth	0.2%	-0.1%	-0.5%	0.2%	0.1%	0.2%	-2.0%	-2.8%
Shares outstanding (diluted) [+]	131.3	130.9	131.1	131.7	131.3	131.4	131.0	133.8
Growth	0.4%	-0.1%	-0.5%	0.3%	-0.1%	0.3%	-2.1%	-2.9%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.