Earnings Per Share

9 Months Ended

Sep. 30, 2019

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 September 30,
(Amounts in thousands, except per share data)	2019		2018
Net earnings of Flowserve Corporation	$	68,443	$	28,205
Dividends on restricted shares not expected to vest	—		—
Earnings attributable to common and participating shareholders	$	68,443	$	28,205
Weighted average shares:
Common stock	131,122		130,823
Participating securities	23		20
Denominator for basic earnings per common share	131,145		130,843
Effect of potentially dilutive securities	701		507
Denominator for diluted earnings per common share	131,846		131,350
Earnings per common share:
Basic	$	0.52	$	0.22
Diluted	0.52		0.21

	Nine Months Ended September 30,
(Amounts in thousands, except per share data)	2019		2018
Net earnings of Flowserve Corporation	$	183,875	$	56,568
Dividends on restricted shares not expected to vest	—		—
Earnings attributable to common and participating shareholders	$	183,875	$	56,568
Weighted average shares:
Common stock	131,070		130,784
Participating securities	22		32
Denominator for basic earnings per common share	131,092		130,816
Effect of potentially dilutive securities	605		408
Denominator for diluted earnings per common share	131,697		131,224
Earnings per common share:
Basic	$	1.40	$	0.43
Diluted	1.40		0.43

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 and Restricted Shares.