DONALDSON Co INC
For the period ended Jul 31, 2026. Filed Sep 25, 2026.
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FY2026 · Filed Sep 25, 2026
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, | |||
|---|---|---|---|
| 2026 | 2025 | 2024 | |
| Operating Activities | |||
| Net earnings | $453.8 | $367.0 | $414.0 |
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||
| Depreciation and amortization | 106.0 | 99.5 | 98.4 |
| Equity in earnings of affiliates, net of distributions | (8.0) | (3.6) | (4.7) |
| Deferred income taxes | (0.3) | (24.0) | (24.3) |
| Stock-based compensation expense | 24.7 | 24.0 | 22.0 |
| Loss on impairment of intangible assets | — | 62.0 | — |
| Gain on sale of fixed assets | (9.3) | (1.2) | — |
| Other, net | 9.8 | (4.7) | 3.7 |
| Changes in operating assets and liabilities, excluding effect of acquired businesses: | |||
| Accounts receivable, net | (75.1) | (21.4) | (39.4) |
| Inventories, net | 0.8 | (32.2) | (65.6) |
| Prepaid expenses and other current assets | (12.5) | 6.3 | (28.3) |
| Accounts payable | (2.0) | (5.5) | 80.3 |
| Income taxes payable | (25.7) | (34.4) | 4.4 |
| Accrued employee compensation and related taxes and other current liabilities | 31.5 | (13.0) | 32.0 |
| Net cash provided by operating activities | 493.7 | 418.8 | 492.5 |
| Investing Activities | |||
| Purchases of property, plant and equipment | (67.4) | (78.9) | (85.6) |
| Proceeds from sale of property, plant and equipment | 10.5 | 2.1 | 0.7 |
| Equity investment | — | (71.2) | — |
| Acquisitions, net of cash acquired | (822.6) | (2.4) | (2.0) |
| Net cash used in investing activities | (879.5) | (150.4) | (86.9) |
| Financing Activities | |||
| Proceeds from long-term debt | 858.9 | 388.1 | 119.7 |
| Repayments of long-term debt | (216.2) | (265.0) | (228.8) |
| Change in short-term borrowings | 13.7 | 1.2 | (5.7) |
| Purchase of treasury stock | (111.2) | (331.5) | (162.7) |
| Payment of contingent consideration | (2.3) | (5.5) | (1.7) |
| Dividends paid | (141.2) | (131.9) | (122.8) |
| Tax withholding for stock compensation transactions | (6.0) | (5.7) | (8.0) |
| Exercise of stock options | 55.9 | 28.6 | 54.1 |
| Net cash provided by (used in) financing activities | 451.6 | (321.7) | (355.9) |
| Effect of exchange rate changes on cash | 4.2 | 1.0 | (4.1) |
| Increase (decrease) in cash and cash equivalents | 70.0 | (52.3) | 45.6 |
| Cash and cash equivalents, beginning of year | 180.4 | 232.7 | 187.1 |
| Cash and cash equivalents, end of year | $250.4 | $180.4 | $232.7 |
| Supplemental Cash Flow Information | |||
| Income taxes paid | $160.9 | $176.2 | $147.8 |
| Interest paid | $33.1 | $22.2 | $23.4 |
| Supplemental Disclosure of Non-Cash Operating and Investing Transactions | |||
| Accrued property, plant and equipment additions | $10.0 | $10.7 | $14.2 |
| Leased assets obtained in exchange for new operating lease liabilities | $22.2 | $24.0 | $22.7 |
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