Business Context and Reporting Period
This Form 8-K is a current report filed by Flowserve Corporation on March 3, 2021, regarding an event that occurred on February 23, 2021. The filing serves to correct an inadvertent error found on the cover page of the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2020.
Key Financial Metrics
The filing does not report operational financial metrics such as revenue, profit, cash flow, or margins. The only financial data point disclosed is a correction regarding market capitalization:
- Aggregate Market Value of Common Stock (Non-Affiliates): Approximately $1,610,916,122 (computed as of June 30, 2020).
The filing text does not provide a clear value for the incorrect figure previously reported on the 10-K cover page.
Material Changes
The material change addressed in this filing is a correction of a reporting error. The Company previously reported an incorrect figure for the aggregate market value of common stock held by non-affiliates on the cover page of its 2020 Form 10-K. This 8-K supersedes that specific data point with the correct value of approximately $1.61 billion.
Guidance, Outlook, and Risks
This filing contains no management commentary, forward-looking guidance, or discussion of risks and contingencies. It is strictly a procedural correction of a clerical error in a prior filing.
Investor Verification Checklist
- Verify the corrected aggregate market value of non-affiliate common stock ($1,610,916,122) against the June 30, 2020 closing price.
- Confirm that the underlying 2020 Form 10-K financial statements (revenue, earnings, cash flow) remain unchanged by this correction.
- Note that this filing does not impact the Company's operational performance or debt levels.