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10-Q Filing

DOVER CORP CIK: 29905 Q1 2022
Filing Information
Form Type 10-Q
Accession Number 0000029905-22-000016
Period End Date 20220331
Filing Date 20220421
Fiscal Year 2022
Fiscal Period Q1
XBRL Instance dov-20220331_htm.xml
Balance Sheet 52 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $513.08M USD Point-in-time
Cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $385.50M USD Point-in-time
Cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $289.98M USD Point-in-time
Cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $536.51M USD Point-in-time
Receivables, net AccountsReceivableNetCurrent $1.35B USD Point-in-time
Receivables, net AccountsReceivableNetCurrent $1.45B USD Point-in-time
Inventories, net InventoryNet $1.19B USD Point-in-time
Inventories, net InventoryNet $1.32B USD Point-in-time
Prepaid and other current assets PrepaidExpenseAndOtherAssetsCurrent $173.48M USD Point-in-time
Prepaid and other current assets PrepaidExpenseAndOtherAssetsCurrent $137.60M USD Point-in-time
Total current assets AssetsCurrent $3.23B USD Point-in-time
Total current assets AssetsCurrent $3.06B USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $960.13M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $957.31M USD Point-in-time
Goodwill Goodwill $4.56B USD Point-in-time
Goodwill Goodwill $4.53B USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $1.31B USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $1.36B USD Point-in-time
Other assets and deferred charges OtherAssetsNoncurrent $470.61M USD Point-in-time
Other assets and deferred charges OtherAssetsNoncurrent $466.26M USD Point-in-time
Total assets Assets $10.50B USD Point-in-time
Total assets Assets $10.40B USD Point-in-time
Notes payable DebtCurrent $113.48M USD Point-in-time
Notes payable DebtCurrent $105.70M USD Point-in-time
Accounts payable AccountsPayableCurrent $1.14B USD Point-in-time
Accounts payable AccountsPayableCurrent $1.07B USD Point-in-time
Accrued compensation and employee benefits EmployeeRelatedLiabilitiesCurrent $203.42M USD Point-in-time
Accrued compensation and employee benefits EmployeeRelatedLiabilitiesCurrent $302.98M USD Point-in-time
Deferred revenue DeferredRevenueCurrent $227.55M USD Point-in-time
Deferred revenue DeferredRevenueCurrent $245.27M USD Point-in-time
Accrued insurance AccruedInsuranceCurrent $101.16M USD Point-in-time
Accrued insurance AccruedInsuranceCurrent $101.45M USD Point-in-time
Other accrued expenses OtherLiabilitiesCurrent $347.10M USD Point-in-time
Other accrued expenses OtherLiabilitiesCurrent $328.99M USD Point-in-time
Federal and other income taxes AccruedIncomeTaxesCurrent $92.00M USD Point-in-time
Federal and other income taxes AccruedIncomeTaxesCurrent $118.05M USD Point-in-time
Total current liabilities LiabilitiesCurrent $2.25B USD Point-in-time
Total current liabilities LiabilitiesCurrent $2.25B USD Point-in-time
Long-term debt LongTermDebtNoncurrent $3.02B USD Point-in-time
Long-term debt LongTermDebtNoncurrent $2.98B USD Point-in-time
Deferred income taxes DeferredIncomeTaxLiabilitiesNet $369.11M USD Point-in-time
Deferred income taxes DeferredIncomeTaxLiabilitiesNet $364.12M USD Point-in-time
Noncurrent income tax payable AccruedIncomeTaxesNoncurrent $48.38M USD Point-in-time
Noncurrent income tax payable AccruedIncomeTaxesNoncurrent $48.38M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $532.54M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $524.94M USD Point-in-time
Total stockholders' equity StockholdersEquity $4.33B USD Point-in-time
Total stockholders' equity StockholdersEquity $3.39B USD Point-in-time
Total stockholders' equity StockholdersEquity $4.19B USD Point-in-time
Total stockholders' equity StockholdersEquity $3.50B USD Point-in-time
Total liabilities and stockholders' equity LiabilitiesAndStockholdersEquity $10.40B USD Point-in-time
Total liabilities and stockholders' equity LiabilitiesAndStockholdersEquity $10.50B USD Point-in-time
Income Statement 30 line items
Line Item Tag Value Unit Period
Revenue RevenueFromContractWithCustomerExcludingAssessedTax $1.87B USD 1 Quarter
Revenue RevenueFromContractWithCustomerExcludingAssessedTax $2.05B USD 1 Quarter
Cost of goods and services CostOfGoodsAndServicesSold $1.31B USD 1 Quarter
Cost of goods and services CostOfGoodsAndServicesSold $1.15B USD 1 Quarter
Gross profit GrossProfit $743.19M USD 1 Quarter
Gross profit GrossProfit $721.55M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $443.84M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $409.00M USD 1 Quarter
Operating earnings OperatingIncomeLoss $299.35M USD 1 Quarter
Operating earnings OperatingIncomeLoss $312.55M USD 1 Quarter
Interest expense InterestExpense $26.55M USD 1 Quarter
Interest expense InterestExpense $26.82M USD 1 Quarter
Interest income InterestIncomeOther $775.00K USD 1 Quarter
Interest income InterestIncomeOther $680.00K USD 1 Quarter
Other income, net OtherNonoperatingIncomeExpense $2.13M USD 1 Quarter
Other income, net OtherNonoperatingIncomeExpense $2.84M USD 1 Quarter
Earnings before provision for income taxes IncomeLossAttributableToParent $275.70M USD 1 Quarter
Earnings before provision for income taxes IncomeLossAttributableToParent $289.25M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $56.48M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $49.55M USD 1 Quarter
Net earnings NetIncomeLoss $226.15M USD 1 Quarter
Net earnings NetIncomeLoss $232.77M USD 1 Quarter
Net earnings (in dollars per basic share) EarningsPerShareBasic $1.62 USD 1 Quarter
Net earnings (in dollars per basic share) EarningsPerShareBasic $1.57 USD 1 Quarter
Net earnings (in dollars per diluted share) EarningsPerShareDiluted $1.61 USD 1 Quarter
Net earnings (in dollars per diluted share) EarningsPerShareDiluted $1.56 USD 1 Quarter
Weighted average shares outstanding - basic WeightedAverageNumberOfSharesOutstandingBasic 144.09M shares 1 Quarter
Weighted average shares outstanding - basic WeightedAverageNumberOfSharesOutstandingBasic 143.76M shares 1 Quarter
Weighted average shares outstanding - diluted WeightedAverageNumberOfDilutedSharesOutstanding 145.33M shares 1 Quarter
Weighted average shares outstanding - diluted WeightedAverageNumberOfDilutedSharesOutstanding 144.94M shares 1 Quarter
Cash Flow Statement 64 line items
Line Item Tag Value Unit Period
Foreign currency translation adjustments, tax benefit (provision) DerivativesUsedInNetInvestmentHedgeTaxExpenseBenefit $8.43M USD 1 Quarter
Foreign currency translation adjustments, tax benefit (provision) DerivativesUsedInNetInvestmentHedgeTaxExpenseBenefit $10.49M USD 1 Quarter
Pension and other postretirement benefit plans tax (provision) benefit OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax $-773.00K USD 1 Quarter
Net earnings NetIncomeLoss $226.15M USD 1 Quarter
Net earnings NetIncomeLoss $232.77M USD 1 Quarter
Pension and other postretirement benefit plans tax (provision) benefit OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax $-208.00K USD 1 Quarter
Cash flow hedges tax benefit (provision) OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationTaxParent $112.00K USD 1 Quarter
Cash flow hedges tax benefit (provision) OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationTaxParent $871.00K USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $73.81M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $79.00M USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $11.11M USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $11.52M USD 1 Quarter
Reclassification of foreign currency translation losses to earnings ForeignCurrencyTransactionLossBeforeTax $5.92M USD 1 Quarter
Reclassification of foreign currency translation losses to earnings ForeignCurrencyTransactionLossBeforeTax - USD 1 Quarter
Other, net IncreaseDecreaseInOtherOperatingCapitalNet $5.59M USD 1 Quarter
Other, net IncreaseDecreaseInOtherOperatingCapitalNet $9.03M USD 1 Quarter
Accounts receivable, net IncreaseDecreaseInAccountsReceivable $97.22M USD 1 Quarter
Accounts receivable, net IncreaseDecreaseInAccountsReceivable $116.32M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $136.72M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $75.42M USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $23.52M USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $22.00M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $63.77M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $58.48M USD 1 Quarter
Accrued compensation and employee benefits IncreaseDecreaseInEmployeeRelatedLiabilities $-34.89M USD 1 Quarter
Accrued compensation and employee benefits IncreaseDecreaseInEmployeeRelatedLiabilities $-98.60M USD 1 Quarter
Accrued expenses and other liabilities IncreaseDecreaseInAccruedLiabilities $-1.46M USD 1 Quarter
Accrued expenses and other liabilities IncreaseDecreaseInAccruedLiabilities $22.95M USD 1 Quarter
Accrued and deferred taxes, net IncreaseDecreaseInAccruedIncomeTaxesPayable $6.14M USD 1 Quarter
Accrued and deferred taxes, net IncreaseDecreaseInAccruedIncomeTaxesPayable $30.05M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $177.18M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $23.68M USD 1 Quarter
Additions to property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $50.38M USD 1 Quarter
Additions to property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $31.26M USD 1 Quarter
Proceeds from sale of property, plant and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $3.18M USD 1 Quarter
Proceeds from sale of property, plant and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $5.84M USD 1 Quarter
Other PaymentsForProceedsFromOtherInvestingActivities $4.16M USD 1 Quarter
Other PaymentsForProceedsFromOtherInvestingActivities $-241.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-29.57M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-46.96M USD 1 Quarter
Repurchase of common stock PaymentsForRepurchaseOfCommonStock - USD 1 Quarter
Repurchase of common stock PaymentsForRepurchaseOfCommonStock $21.64M USD 1 Quarter
Borrowings in commercial paper and notes payable, net ProceedsFromRepaymentsOfShortTermDebt - USD 1 Quarter
Borrowings in commercial paper and notes payable, net ProceedsFromRepaymentsOfShortTermDebt $7.78M USD 1 Quarter
Dividends paid to stockholders PaymentsOfDividendsCommonStock $72.20M USD 1 Quarter
Dividends paid to stockholders PaymentsOfDividendsCommonStock $71.34M USD 1 Quarter
Payments to settle employee tax obligations on exercise of share-based awards PaymentsRelatedToTaxWithholdingForShareBasedCompensation $10.05M USD 1 Quarter
Payments to settle employee tax obligations on exercise of share-based awards PaymentsRelatedToTaxWithholdingForShareBasedCompensation $30.45M USD 1 Quarter
Other ProceedsFromPaymentsForOtherFinancingActivities $-805.00K USD 1 Quarter
Other ProceedsFromPaymentsForOtherFinancingActivities $-733.00K USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-75.20M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-124.24M USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.96M USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $64.00K USD 1 Quarter
Net (decrease) increase in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-95.52M USD 1 Quarter
Net (decrease) increase in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $23.44M USD 1 Quarter
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $513.08M USD Point-in-time
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $385.50M USD Point-in-time
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $289.98M USD Point-in-time
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $536.51M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $513.08M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $385.50M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $289.98M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $536.51M USD Point-in-time
Stockholders Equity 22 line items
Line Item Tag Value Unit Period
Dividends paid per common share (in dollars per share) CommonStockDividendsPerShareCashPaid $0.50 USD 1 Quarter
Dividends paid per common share (in dollars per share) CommonStockDividendsPerShareCashPaid $0.49 USD 1 Quarter
Balance StockholdersEquity $4.33B USD Point-in-time
Balance StockholdersEquity $3.39B USD Point-in-time
Balance StockholdersEquity $4.19B USD Point-in-time
Balance StockholdersEquity $3.50B USD Point-in-time
Net earnings NetIncomeLoss $226.15M USD 1 Quarter
Net earnings NetIncomeLoss $232.77M USD 1 Quarter
Dividends paid DividendsCommonStockCash $72.20M USD 1 Quarter
Dividends paid DividendsCommonStockCash $71.34M USD 1 Quarter
Common stock issued for the exercise of share-based awards StockIssuedDuringPeriodValueShareBasedCompensation $-30.45M USD 1 Quarter
Common stock issued for the exercise of share-based awards StockIssuedDuringPeriodValueShareBasedCompensation $-10.05M USD 1 Quarter
Stock-based compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $11.11M USD 1 Quarter
Stock-based compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $11.52M USD 1 Quarter
Common stock acquired TreasuryStockValueAcquiredCostMethod $21.64M USD 1 Quarter
Other comprehensive loss, net of tax OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $-7.48M USD 1 Quarter
Other comprehensive loss, net of tax OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $-14.77M USD 1 Quarter
Other, net StockholdersEquityOther $9.00K USD 1 Quarter
Balance StockholdersEquity $4.33B USD Point-in-time
Balance StockholdersEquity $3.39B USD Point-in-time
Balance StockholdersEquity $4.19B USD Point-in-time
Balance StockholdersEquity $3.50B USD Point-in-time
Comprehensive Income 24 line items
Line Item Tag Value Unit Period
Net earnings NetIncomeLoss $226.15M USD 1 Quarter
Net earnings NetIncomeLoss $232.77M USD 1 Quarter
Foreign currency translation losses OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax $-12.97M USD 1 Quarter
Foreign currency translation losses OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax $-21.65M USD 1 Quarter
Reclassification of foreign currency translation losses to earnings OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationReclassificationAdjustmentFromAOCIRealizedUponSaleOrLiquidationNetOfTax - USD 1 Quarter
Reclassification of foreign currency translation losses to earnings OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationReclassificationAdjustmentFromAOCIRealizedUponSaleOrLiquidationNetOfTax $-5.92M USD 1 Quarter
Total foreign currency translation adjustments (net of $(8,431) and $(10,492) tax provision, respectively) OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-15.74M USD 1 Quarter
Total foreign currency translation adjustments (net of $(8,431) and $(10,492) tax provision, respectively) OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-12.97M USD 1 Quarter
Amortization of actuarial losses included in net periodic pension cost OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax $-360.00K USD 1 Quarter
Amortization of actuarial losses included in net periodic pension cost OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax $-2.37M USD 1 Quarter
Amortization of prior service costs included in net periodic pension cost OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax $208.00K USD 1 Quarter
Amortization of prior service costs included in net periodic pension cost OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax $221.00K USD 1 Quarter
Total pension and other post-retirement benefit plans (net of $(208) and $(773) tax provision, respectively) OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-581.00K USD 1 Quarter
Total pension and other post-retirement benefit plans (net of $(208) and $(773) tax provision, respectively) OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-2.58M USD 1 Quarter
Unrealized net gains arising during period OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax $4.32M USD 1 Quarter
Unrealized net gains arising during period OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax $1.96M USD 1 Quarter
Net gains reclassified into earnings OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax $1.41M USD 1 Quarter
Net gains reclassified into earnings OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax $1.58M USD 1 Quarter
Total cash flow hedges (net of $(112) and $(871) tax provision, respectively) OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax $388.00K USD 1 Quarter
Total cash flow hedges (net of $(112) and $(871) tax provision, respectively) OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax $2.91M USD 1 Quarter
Other comprehensive (loss) earnings, net of tax OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $-7.48M USD 1 Quarter
Other comprehensive (loss) earnings, net of tax OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $-14.77M USD 1 Quarter
Comprehensive earnings ComprehensiveIncomeNetOfTax $225.29M USD 1 Quarter
Comprehensive earnings ComprehensiveIncomeNetOfTax $211.38M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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