DOVER Corp
For the period ended Dec 31, 2023. Filed Feb 9, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Feb 9, 2024
DOV$212.00-0.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
| Years Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Operating Activities: | |||
| Net earnings | $1,056,828 | $1,065,376 | $1,123,818 |
| Adjustments to reconcile net earnings to cash provided by operating activities: | |||
| Depreciation and amortization | 317,463 | 307,538 | 290,123 |
| Stock-based compensation | 31,465 | 30,821 | 31,111 |
| Gain on dispositions | — | — | (206,338) |
| Provision for losses on accounts receivable (net of recoveries) | 2,881 | 5,552 | 5,053 |
| Deferred income taxes | (99,286) | (28,138) | (48,322) |
| Employee benefit plan expense | 5,679 | 3,096 | 11,897 |
| Other, net | (12,385) | (18,218) | (7,368) |
| Cash effect of changes in assets and liabilities (excluding effects of acquisitions, dispositions and foreign exchange): | |||
| Accounts receivable | 86,501 | (209,021) | (201,540) |
| Inventories | 145,451 | (199,033) | (297,623) |
| Prepaid expenses and other assets | 10,158 | (3,494) | (14,303) |
| Accounts payable | (104,576) | 15,422 | 229,334 |
| Accrued compensation and employee benefits | 4,222 | (34,803) | 65,482 |
| Accrued expenses and other liabilities | (75,160) | (54,067) | 60,734 |
| Accrued taxes | (16,798) | (62,417) | 88,190 |
| Contributions to employee benefit plans | (16,098) | (12,890) | (14,383) |
| Net cash provided by operating activities | 1,336,345 | 805,724 | 1,115,865 |
| Investing Activities: | |||
| Additions to property, plant and equipment | (192,592) | (220,962) | (171,465) |
| Acquisitions, net of cash and cash equivalents acquired | (533,623) | (312,855) | (1,112,075) |
| Proceeds from sale of property, plant and equipment | 4,234 | 6,061 | 7,070 |
| Proceeds from dispositions | — | — | 274,982 |
| Other | (4,649) | (13,168) | 8,735 |
| Net cash used in investing activities | (726,630) | (540,924) | (992,753) |
| Financing Activities: | |||
| Change in commercial paper and other short-term borrowings, net | (267,490) | 629,891 | 105,000 |
| Dividends paid to stockholders | (284,297) | (287,551) | (286,896) |
| Repurchase of common stock, including payment under accelerated share repurchase program | — | (585,000) | (21,637) |
| Payments to settle employee tax obligations on exercise of share-based awards | (12,137) | (14,637) | (41,924) |
| Other | (4,132) | (2,968) | (4,423) |
| Net cash used in financing activities | (568,056) | (260,265) | (249,880) |
| Effect of exchange rate changes on cash and cash equivalents | (6,666) | (9,171) | (803) |
| Net increase (decrease) in cash and cash equivalents, including cash held for sale | 34,993 | (4,636) | (127,571) |
| Cash and cash equivalents at beginning of year | 380,868 | 385,504 | 513,075 |
| Cash and cash equivalents, including cash held for sale, at end of year | $415,861 | $380,868 | $385,504 |
| Supplemental information - cash paid during the year for: | |||
| Income taxes | $332,192 | $354,468 | $233,631 |
| Interest | 126,704 | 112,469 | 102,139 |
| Years Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Cash and cash equivalents | $398,561 | $380,868 | $385,504 |
| Cash and cash equivalents held for sale | 17,300 | — | — |
| Cash and cash equivalents, including cash held for sale | $415,861 | $380,868 | $385,504 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.