DOVER Corp
For the period ended Dec 31, 2024. Filed Feb 14, 2025.
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FY2024 · Filed Feb 14, 2025
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
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
| Years Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Operating Activities: | |||
| Net earnings | $2,697,126 | $1,056,828 | $1,065,376 |
| Adjustments to reconcile net earnings to cash provided by operating activities: | |||
| Earnings from discontinued operations, net | (1,297,158) | (112,964) | (75,464) |
| Depreciation and amortization | 337,842 | 305,046 | 295,660 |
| Stock-based compensation expense | 40,359 | 30,766 | 30,075 |
| Gain on dispositions | (597,798) | — | — |
| Provision for losses on accounts receivable (net of recoveries) | 5,329 | 2,644 | 5,499 |
| Deferred income taxes | (89,657) | (99,286) | (28,138) |
| Employee benefit plan (benefit) expense | (9,946) | 5,679 | 3,096 |
| Other, net | 27,255 | 1,802 | (18,208) |
| Cash effect of changes in assets and liabilities (excluding effects of acquisitions, dispositions and foreign exchange): | |||
| Accounts receivable | (43,894) | 100,393 | (184,562) |
| Inventories | 4,418 | 141,747 | (190,731) |
| Prepaid expenses and other assets | (26,938) | 10,738 | (5,348) |
| Accounts payable | 9,076 | (114,198) | 17,268 |
| Accrued compensation and employee benefits | 39,243 | 1,488 | (36,306) |
| Accrued expenses and other liabilities | 28,603 | (78,218) | (56,140) |
| Accrued taxes | (23,245) | (16,821) | (62,433) |
| Contributions to employee benefit plans | (12,782) | (16,098) | (12,890) |
| Net cash provided by operating activities | 1,087,833 | 1,219,546 | 746,754 |
| Investing Activities: | |||
| Additions to property, plant and equipment | (167,533) | (183,406) | (211,082) |
| Acquisitions, net of cash and cash equivalents acquired | (635,269) | (533,623) | (312,855) |
| Proceeds from dispositions, net of cash transferred | 768,847 | — | — |
| Other, net | 6,972 | (686) | 3,093 |
| Net cash used in investing activities | (26,983) | (717,715) | (520,844) |
| Financing Activities: | |||
| Change in commercial paper and other short-term borrowings, net | (467,637) | (267,490) | 629,891 |
| Dividends paid to stockholders | (283,117) | (284,297) | (287,551) |
| Repurchase of common stock, including payment under accelerated share repurchase program | (500,000) | — | (585,000) |
| Payments to settle employee tax obligations on exercise of share-based awards | (16,603) | (12,137) | (14,637) |
| Other, net | (4,316) | (4,132) | (2,968) |
| Net cash used in financing activities | (1,271,673) | (568,056) | (260,265) |
| Cash Flows from Discontinued Operations: | |||
| Net cash (used in) provided by operating activities of discontinued operations | (339,454) | 116,799 | 58,971 |
| Net cash provided by (used in) investing activities of discontinued operations | 1,985,641 | (8,915) | (20,079) |
| Net cash provided by discontinued operations | 1,646,187 | 107,884 | 38,892 |
| Effect of exchange rate changes on cash and cash equivalents | (6,348) | (6,666) | (9,173) |
| Net increase (decrease) in cash and cash equivalents, including cash held for sale | 1,429,016 | 34,993 | (4,636) |
| Cash and cash equivalents at beginning of year, including cash held for sale (1) | 415,861 | 380,868 | 385,504 |
| Cash and cash equivalents at end of year, including cash held for sale (1) | $1,844,877 | $415,861 | $380,868 |
| Supplemental information - cash paid during the year for: (2) | |||
| Income taxes | $907,791 | $332,192 | $354,468 |
| Interest | 126,434 | 126,704 | 112,469 |
(1)Cash held for sale as of December 31, 2023 totaled $17,300. There wasno cash held for sale as of December 31, 2024, 2022 and 2021.
(2)Supplemental information includes cash paid as part of continuing and discontinued operations.
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