Earnings Per Share

3 Months Ended

Mar. 31, 2012

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

The following is a reconciliation of net earnings of Flowserve Corporation and weighted average shares for calculating net earnings per common share. Earnings per weighted average common share outstanding was calculated as follows:

	Three Months Ended March 31,
(Amounts in thousands, except per share data)	2012		2011
Net earnings of Flowserve Corporation	$	93,125	$	96,982
Dividends on restricted shares not expected to vest	4		4
Earnings attributable to common and participating shareholders	$	93,129	$	96,986
Weighted average shares:
Common stock	54,203		55,356
Participating securities	267		298
Denominator for basic earnings per common share	54,470		55,654
Effect of potentially dilutive securities	561		685
Denominator for diluted earnings per common share	55,031		56,339
Earnings per common share:
Basic	$	1.71	$	1.74
Diluted	1.69		1.72

Diluted earnings per share above is based upon the weighted average number of shares as determined for basic earnings per share plus shares potentially issuable in conjunction with stock options, restricted share units and performance share units.

For the three months ended both March 31, 2012 and 2011, no options to purchase common stock were excluded from the computation of potentially dilutive securities.