XML 67 R94.htm IDEA: XBRL DOCUMENT v2.4.1.9
Income Taxes (Details) (USD $)
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Current:        
U.S. federal $ 62,301,000us-gaap_CurrentFederalTaxExpenseBenefit $ 61,670,000us-gaap_CurrentFederalTaxExpenseBenefit $ 73,444,000us-gaap_CurrentFederalTaxExpenseBenefit  
Non-U.S. 123,052,000us-gaap_CurrentForeignTaxExpenseBenefit 112,471,000us-gaap_CurrentForeignTaxExpenseBenefit 101,166,000us-gaap_CurrentForeignTaxExpenseBenefit  
State and local 7,422,000us-gaap_CurrentStateAndLocalTaxExpenseBenefit 7,537,000us-gaap_CurrentStateAndLocalTaxExpenseBenefit 3,454,000us-gaap_CurrentStateAndLocalTaxExpenseBenefit  
Total current 192,775,000us-gaap_CurrentIncomeTaxExpenseBenefit 181,678,000us-gaap_CurrentIncomeTaxExpenseBenefit 178,064,000us-gaap_CurrentIncomeTaxExpenseBenefit  
Deferred:        
U.S. federal 1,270,000us-gaap_DeferredFederalIncomeTaxExpenseBenefit 8,771,000us-gaap_DeferredFederalIncomeTaxExpenseBenefit (823,000)us-gaap_DeferredFederalIncomeTaxExpenseBenefit  
Non-U.S. 13,016,000us-gaap_DeferredForeignIncomeTaxExpenseBenefit 13,120,000us-gaap_DeferredForeignIncomeTaxExpenseBenefit (17,268,000)us-gaap_DeferredForeignIncomeTaxExpenseBenefit  
State and local 1,244,000us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit 1,132,000us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit 793,000us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit  
Total deferred 15,530,000us-gaap_DeferredIncomeTaxExpenseBenefit 23,023,000us-gaap_DeferredIncomeTaxExpenseBenefit (17,298,000)us-gaap_DeferredIncomeTaxExpenseBenefit  
Total provision 208,305,000us-gaap_IncomeTaxExpenseBenefit 204,701,000us-gaap_IncomeTaxExpenseBenefit 160,766,000us-gaap_IncomeTaxExpenseBenefit  
Tax deductions related to exercise of non-qualified employee stock options and vesting of restricted stock 8,600,000us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitRealizedFromExerciseOfStockOptions 10,100,000us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitRealizedFromExerciseOfStockOptions 11,000,000us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitRealizedFromExerciseOfStockOptions  
Effective Income Tax Rate Reconciliation, Amount [Abstract]        
Statutory federal income tax at 35% 256,600,000us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate 242,600,000us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate 214,000,000us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate  
Foreign impact, net (58,700,000)us-gaap_IncomeTaxReconciliationForeignIncomeTaxRateDifferential (40,700,000)us-gaap_IncomeTaxReconciliationForeignIncomeTaxRateDifferential (50,600,000)us-gaap_IncomeTaxReconciliationForeignIncomeTaxRateDifferential  
State and local income taxes, net 8,700,000us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes 8,700,000us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes 4,200,000us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes  
Other 1,700,000us-gaap_IncomeTaxReconciliationOtherReconcilingItems (5,900,000)us-gaap_IncomeTaxReconciliationOtherReconcilingItems (6,800,000)us-gaap_IncomeTaxReconciliationOtherReconcilingItems  
Effective tax rate 28.40%us-gaap_EffectiveIncomeTaxRateContinuingOperations 29.50%us-gaap_EffectiveIncomeTaxRateContinuingOperations 26.30%us-gaap_EffectiveIncomeTaxRateContinuingOperations  
Statutory federal income tax rate 35.00%us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate 35.00%us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate 35.00%us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate 35.00%us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
Cumulative amount of undistributed earnings considered permanently reinvested 1,700,000,000us-gaap_UndistributedEarningsOfForeignSubsidiaries      
Cash and deemed dividend distributions, tax (expense) benefit 6,900,000us-gaap_IncomeTaxReconciliationDeductionsDividends 5,000,000us-gaap_IncomeTaxReconciliationDeductionsDividends 2,300,000us-gaap_IncomeTaxReconciliationDeductionsDividends  
Deferred tax assets related to:        
Retirement benefits 35,501,000us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsPostretirementBenefits 25,798,000us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsPostretirementBenefits    
Net operating loss carryforwards 23,483,000us-gaap_DeferredTaxAssetsOperatingLossCarryforwards 23,943,000us-gaap_DeferredTaxAssetsOperatingLossCarryforwards    
Compensation accruals 56,903,000us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeCompensation 54,518,000us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeCompensation    
Inventories 51,528,000us-gaap_DeferredTaxAssetsInventory 56,487,000us-gaap_DeferredTaxAssetsInventory    
Credit carryforwards 32,039,000us-gaap_DeferredTaxAssetsTaxCreditCarryforwards 32,384,000us-gaap_DeferredTaxAssetsTaxCreditCarryforwards    
Warranty and accrued liabilities 13,913,000us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities 20,626,000us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities    
Other 43,603,000us-gaap_DeferredTaxAssetsOther 42,809,000us-gaap_DeferredTaxAssetsOther    
Total deferred tax assets 256,970,000us-gaap_DeferredTaxAssetsGross 256,565,000us-gaap_DeferredTaxAssetsGross    
Valuation allowances (15,378,000)us-gaap_DeferredTaxAssetsValuationAllowance (18,058,000)us-gaap_DeferredTaxAssetsValuationAllowance    
Net deferred tax assets 241,592,000us-gaap_DeferredTaxAssetsNet 238,507,000us-gaap_DeferredTaxAssetsNet    
Deferred tax liabilities related to:        
Property, plant and equipment (30,077,000)us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment (36,191,000)us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment    
Goodwill and intangibles (150,741,000)us-gaap_DeferredTaxLiabilitiesGoodwillAndIntangibleAssets (138,635,000)us-gaap_DeferredTaxLiabilitiesGoodwillAndIntangibleAssets    
Other (2,182,000)us-gaap_DeferredTaxLiabilitiesOther (9,269,000)us-gaap_DeferredTaxLiabilitiesOther    
Total deferred tax liabilities (183,000,000)us-gaap_DeferredTaxLiabilities (184,095,000)us-gaap_DeferredTaxLiabilities    
Deferred tax assets, net 58,592,000us-gaap_DeferredTaxAssetsLiabilitiesNet 54,412,000us-gaap_DeferredTaxAssetsLiabilitiesNet    
Net operating loss carryforwards 138,000,000us-gaap_OperatingLossCarryforwards      
Earnings before income taxes comprised:        
U.S. 230,896,000us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic 231,179,000us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic 220,684,000us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic  
Non-U.S. 502,294,000us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign 461,842,000us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign 390,881,000us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign  
Total 733,190,000us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments 693,021,000us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments 611,565,000us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments  
Reconciliation of the total gross amount of unrecognized tax benefits, excluding interest and penalities:        
Balance — 59,300,000us-gaap_UnrecognizedTaxBenefits 59,100,000us-gaap_UnrecognizedTaxBenefits 93,800,000us-gaap_UnrecognizedTaxBenefits  
Gross amount of increases (decreases) in unrecognized tax benefits resulting from tax positions taken:        
During a prior year 2,700,000us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions 3,900,000us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions (1,400,000)us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions  
During the current period 7,200,000us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions 8,900,000us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions 10,300,000us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions  
Decreases in unrecognized tax benefits relating to:        
Settlements with taxing authorities (3,900,000)us-gaap_UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities (100,000)us-gaap_UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities (21,000,000)us-gaap_UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities  
Lapse of the applicable statute of limitations (10,000,000)us-gaap_UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations (11,500,000)us-gaap_UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations (23,000,000)us-gaap_UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations  
(Decreases) increases in unrecognized tax benefits relating to foreign currency translation adjustments (3,800,000)us-gaap_UnrecognizedTaxBenefitsDecreasesResultingFromForeignCurrencyTranslation (1,000,000)us-gaap_UnrecognizedTaxBenefitsDecreasesResultingFromForeignCurrencyTranslation 400,000us-gaap_UnrecognizedTaxBenefitsDecreasesResultingFromForeignCurrencyTranslation  
Balance — 51,500,000us-gaap_UnrecognizedTaxBenefits 59,300,000us-gaap_UnrecognizedTaxBenefits 59,100,000us-gaap_UnrecognizedTaxBenefits 93,800,000us-gaap_UnrecognizedTaxBenefits
Gross unrecognized tax benefits 66,200,000fls_UnrecognizedTaxBenefitsIncludingAccruedInterestAndPenalties      
Gross unrecognized tax benefits, accrued interest and penalties 14,700,000us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued      
Unrecognized tax benefits, if recognized, would favorably impact effective tax rate 53,300,000us-gaap_UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate      
Interest and penalties recognized in consolidated statements of income 1,500,000us-gaap_IncomeTaxExaminationPenaltiesAndInterestExpense 2,400,000us-gaap_IncomeTaxExaminationPenaltiesAndInterestExpense 2,900,000us-gaap_IncomeTaxExaminationPenaltiesAndInterestExpense  
Unrecognized tax benefits minimum amount of estimated reduction within the next twelve months 12,000,000us-gaap_SignificantChangeInUnrecognizedTaxBenefitsIsReasonablyPossibleEstimatedRangeOfChangeLowerBound      
State        
Deferred tax liabilities related to:        
Net operating loss carryforwards 35,200,000us-gaap_OperatingLossCarryforwards
/ us-gaap_IncomeTaxAuthorityAxis
= us-gaap_StateAndLocalJurisdictionMember
     
Foreign Tax Authority        
Deferred tax liabilities related to:        
Tax credit carryforwards 29,700,000fls_TaxCreditCarryforwardAmountNet
/ us-gaap_IncomeTaxAuthorityAxis
= us-gaap_ForeignCountryMember
     
Decreases in unrecognized tax benefits relating to:        
Tax Credit Carryforward, Valuation Allowance $ 600,000us-gaap_TaxCreditCarryforwardValuationAllowance
/ us-gaap_IncomeTaxAuthorityAxis
= us-gaap_ForeignCountryMember