DONALDSON Co INC
For the period ended Jul 31, 2024. Filed Sep 27, 2024.
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FY2024 · Filed Sep 27, 2024
DCI$87.35-1.0%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
(In millions)
| Year Ended July 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Operating Activities | |||
| Net earnings | $414.0 | $358.8 | $332.8 |
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||
| Depreciation and amortization | 98.4 | 92.3 | 93.8 |
| Equity in earnings of affiliates, net of distributions | (4.7) | (1.0) | 0.3 |
| Deferred income taxes | (24.3) | (15.3) | (1.4) |
| Stock-based compensation expense | 22.0 | 20.4 | 20.4 |
| Other, net | 3.7 | 7.3 | 10.6 |
| Changes in operating assets and liabilities, excluding effect of acquired businesses: | |||
| Accounts receivable, net | (39.4) | 30.1 | (100.8) |
| Inventories, net | (65.6) | 99.8 | (147.8) |
| Prepaid expenses and other current assets | (28.3) | 16.8 | (10.5) |
| Accounts payable | 80.3 | (39.0) | 51.1 |
| Income taxes payable | 4.4 | (11.5) | 4.9 |
| Deferred revenue | (5.3) | 2.1 | 8.3 |
| Accrued employee compensation and related taxes and other current liabilities | 37.3 | (16.3) | (8.9) |
| Net cash provided by operating activities | 492.5 | 544.5 | 252.8 |
| Investing Activities | |||
| Purchases of property, plant and equipment | (85.6) | (118.5) | (85.5) |
| Proceeds from sale of property, plant and equipment | 0.7 | 0.4 | 0.4 |
| Acquisitions, net of cash acquired | (2.0) | (209.2) | (68.9) |
| Net cash used in investing activities | (86.9) | (327.3) | (154.0) |
| Financing Activities | |||
| Proceeds from long-term debt | 119.7 | 189.2 | 289.3 |
| Repayments of long-term debt | (228.8) | (219.6) | (90.0) |
| Change in short-term borrowings | (5.7) | 30.4 | (43.9) |
| Purchase of treasury stock | (162.7) | (141.8) | (170.6) |
| Payment of contingent consideration | (1.7) | — | — |
| Dividends paid | (122.8) | (114.4) | (110.1) |
| Tax withholding for stock compensation transactions | (8.0) | (4.3) | (1.8) |
| Exercise of stock options | 54.1 | 38.3 | 12.9 |
| Net cash used in financing activities | (355.9) | (222.2) | (114.2) |
| Effect of exchange rate changes on cash | (4.1) | (1.2) | (14.1) |
| Increase (decrease) in cash and cash equivalents | 45.6 | (6.2) | (29.5) |
| Cash and cash equivalents, beginning of year | 187.1 | 193.3 | 222.8 |
| Cash and cash equivalents, end of year | $232.7 | $187.1 | $193.3 |
| Supplemental Cash Flow Information | |||
| Income taxes paid | $147.8 | $140.9 | $102.4 |
| Interest paid | $23.4 | $20.9 | $12.2 |
| Supplemental Disclosure of Non-Cash Operating and Investing Transactions | |||
| Accrued property, plant and equipment additions | $14.2 | $18.5 | $16.3 |
| Leased assets obtained in exchange for new operating lease liabilities | $22.7 | $32.3 | $17.0 |
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