439a4f594d0bdd73dce29c59cf7e474a631ce86f45ff74b4ea16d7f85f12d89b

The surge in **Cash and cash equivalents** for Q4 2024 was driven primarily by the **proceeds from dispositions**. In particular, the **sale of the Environmental Solutions Group (ESG) business for $2.0 billion** provided a major cash inflow.  **[20250130NY07727:7]**  Additionally, significant **net cash provided by discontinued operations of $1,646,187 thousand** further bolstered the cash position.  **[20250130NY07727:4]**  The reduction in **long-term debt by $462,413 thousand** and relatively modest **capital expenditures of $167,533 thousand** also supported this increase, as these factors helped retain more cash during the period.  **[0000029905-25-000006_dov-20241231.htm:78]** **[20250130NY07727:9]** 

Why did Cash and cash equivalents surge in Q4 2024?

The substantial jump in **Cash and cash equivalents** in Q1 2024 was primarily due to the **net proceeds of $611.7 million** from the sale of De-Sta-Co. Additionally, **$166.6 million** generated from operating activities further contributed to the increase, although this was partly offset by outflows for acquisitions and capital expenditures. This combination of high inflows led to the significant rise in cash during the quarter.  **[0000029905-24-000020_dov-20240331.htm:34]** 

What caused the jump in Cash and cash equivalents in Q1 2024?

The increase in total assets in Q4 2024 was primarily driven by several factors. **Cash and cash equivalents** saw a sharp rise—from **$398,561 thousand to $1,844,877 thousand**—primarily due to the proceeds from the sale of the Environmental Solutions Group (ESG) business and other smaller dispositions. Additionally, **goodwill and intangible assets** grew as a result of acquisitions, with goodwill increasing from **$4,637,564 thousand to $4,905,702 thousand** and intangible assets from **$1,445,204 thousand to $1,580,854 thousand**. These factors together contributed significantly to the jump in total assets for Q4 2024.  **[0000029905-25-000003_a202501308-kexhibit991pr.htm:7]** **[0000029905-25-000006_dov-20241231.htm:78]** **[20250130NY07727:7]** **[0000029905-25-000003_a202501308-kexhibit991pr.htm:14]** 

What factors contributed to the increase in Total assets in Q4 2024?

The drop in **long-term debt** in Q4 2024 was primarily driven by two factors. First, **$399,411 thousand** of the long-term debt was reclassified as the **current portion of long-term debt**, which is due within one year. Second, there were **no new commercial paper borrowings** during the period, compared to **$467,600 thousand** outstanding in the previous period. These factors combined to significantly reduce the reported long-term debt balance.  **[0000029905-25-000006_dov-20241231.htm:104]** 

Why did Long-term debt drop in Q4 2024?

The significant decrease in **short-term borrowings** in Q2 2024 was primarily due to a **decrease in commercial paper borrowings**. Specifically, commercial paper borrowings fell by **$257,800 thousand**, a change that was driven by the company's strategic use of proceeds from the sale of De-Sta-Co to reduce its debt levels.  **[0000029905-24-000035_dov-20240630.htm:12]** **[0000029905-24-000035_dov-20240630.htm:45]** 

What caused the decrease in Short-term borrowings in Q2 2024?

ad5d08c7660afa9e2824f2f8e7d9cf7fbd4c7143be3120d485ea7e1b18fb72f0

In **Q4 2023**, the **provision for income taxes** was notably low because there was a significant **net income tax benefit from internal reorganizations executed in 2023**. This benefit reduced the tax expense, resulting in a provision of **$32,969 thousand**.  **[0000029905-24-000004_a202402018-kexhibit991pr.htm:10]** 

Why was the Provision for income taxes so low in Q4 2023?

The documents indicate that the interest expense in Q2 2023 increased significantly from **$26,989 thousand** in Q2 2022 to **$33,804 thousand** in Q2 2023, marking a **25.3% increase**. However, they do not provide specific details on what drove this change. Potential factors suggested include increased borrowing levels, higher interest rates, or changes in the company's debt structure.  **[0000029905-23-000028_dov-20230630.htm:25]** **[0000029905-23-000028_dov-20230630.htm:2]** 

What drove the higher Interest expense in Q2 2023?

The improvement appears to be largely driven by **increased non-operational income** and **higher earnings from equity method investments**; however, these factors are described for the full year 2023 rather than for Q4 alone, so specific details for Q4 2023 are not provided in the documents.  **[0000029905-24-000008_dov-20231231.htm:49]** **[0000029905-24-000008_dov-20231231.htm:48]** 

What contributed to the improvement in Other income, net in Q4 2023?

In Q4 2023, **Basic EPS** was boosted by **improved margin performance**—particularly in food retail where **EBIT margins exceeded 15%**—and strong operational achievements that drove productivity gains over the previous years.  **[DOV_3371576_2]**  Additionally, **pricing actions**, **productivity initiatives**, and **restructuring efforts** helped offset a 2% revenue decline by effectively managing costs despite volume challenges.  **[0000029905-24-000004_a202402018-kexhibit991pr.htm:0]** **[0000029905-24-000008_dov-20231231.htm:48]**  The company also benefited from **adjusted net earnings growth** and a **net income tax benefit** from an internal reorganization in Q4 2023, further enhancing its EPS.  **[0000029905-24-000004_a202402018-kexhibit991pr.htm:0]** 

What factors boosted Basic EPS in Q4 2023?

da4a700d310ac6c29218694452716d0e5f4cb4561a596fb6de898aa5982183aa

Cash and cash equivalents (USD, thousands)

Receivables, net (USD, thousands)

Inventories, net (USD, thousands)

Prepaid and other current assets (USD, thousands)

Total current assets (USD, thousands)

Property, plant and equipment, net (USD, thousands)

Goodwill (USD, thousands)

Intangible assets, net (USD, thousands)

Other assets and deferred charges (USD, thousands)

Total assets (USD, thousands)

Short-term borrowings (USD, thousands)

Accounts payable (USD, thousands)

Accrued compensation and employee benefits (USD, thousands)

Deferred revenue (USD, thousands)

Accrued insurance (USD, thousands)

Other accrued expenses (USD, thousands)

Federal and other income taxes (USD, thousands)

Total current liabilities (USD, thousands)

Long-term debt (USD, thousands)

Deferred income taxes (USD, thousands)

Non-current income tax payable (USD, thousands)

Other liabilities (USD, thousands)

Total stockholders' equity (USD, thousands)

Total liabilities and stockholders' equity (USD, thousands)

9d7c4fa2451b27890e460e6c66251db6da376d5c2eb9d0ddc2807bd0a4f8ca68

Revenue [USD, thousands]

Cost of goods and services [USD, thousands]

Gross profit [USD, thousands]

Selling, general and administrative expenses [USD, thousands]

Operating earnings [USD, thousands]

Interest expense [USD, thousands]

Interest income [USD, thousands]

Other income, net [USD, thousands]

Earnings before provision for income taxes [USD, thousands]

Provision for income taxes [USD, thousands]

Net earnings [USD, thousands]

c39f8dd952b2353b5020d28fd7c10af5349c9294e08e372d548b5869c4e77a8e

7af5b4c2d327282775ad4f52be6fcf8292763cdb6e454a40e48791ca11f9e09b

Adjustments for Non-Cash Items [USD, Thousands]

Stock-Based Compensation [USD, Thousands]

Changes in Working Capital [USD, Thousands]

Capital Expenditures (CapEx) [USD, Thousands]

Proceeds from / Repayments of Debt [USD, Thousands]

Share Repurchases [USD, Thousands]

Dividend Payments [USD, Thousands]

Net Change in Cash [USD, Thousands]

0ebb1d89744dab3072dcf1d07a8ca727c52bd710bfdfadc0b01b7e58582f8f91

372224818466408269ac308ed2c344c6e5469a60c487414e12ccc78bd6b4742f

b4f99ac6eb782f4e4010ad4b6f987d8dc61a93d7fa2e05e133571b3e906c73b1

a91535aac4336e977196af7e6c1b9ba99c419546b08d4e6734ec55fc3ab7bbaa

United States

Europe

Asia

Other Americas

Other

Total Revenue

942883ecf3fc952e2ff5afdd6f5dba8bbf032fbd19a9149d10d8591e7f8f6da0

DOVER (DOV)

Financials