Financial Analysis

"3. Acquisitions 2025 Acquisitions During the year ended December 31, 2025, the Company acquired four businesses in separate transactions for total consideration of $665,270, net of cash acquired and inclusive of contingent consideration of $2,000 (a non-cash financing activity) and measurement period adjustments. These businesses were acquired to complement and expand upon existing operations within the Pumps & Process Solutions and Clean Energy & Fueling segments. The goodwill recorded as a result of these acquisitions represents the economic benefits expected to be derived from product line expansions and operational synergies. Goodwill of $16,614 is deductible for income tax purposes and $350,516 is non-deductible for income tax purposes for these acquisitions. The fair values of the assets acquired and liabilities assumed, and the related tax balances, are based on preliminary estimates and assumptions. These preliminary estimates and assumptions could change significantly during the measurement period as the Company finalizes the valuations of the assets acquired and liabilities assumed, and the related tax balances. Sikora On June 11, 2025, the Company acquired 99.8% of the equity interest in Sikora AG (""Sikora""), a provider of precision measurement, inspection and control solutions for production processes in the wires and cables, hoses, optical fibers and plastic industries for $608,459, net of cash acquired and inclusive of measurement period adjustments. …

BusinessCombinationDisclosureTextBlock · excerpt; the full note is in the filing

"16. Commitments and Contingent Liabilities Guarantees The Company has provided typical indemnities in connection with sales of certain businesses and assets, including representations and warranties and related indemnities for environmental, health and safety, tax and employment matters. The Company does not have any material liabilities recorded for these indemnifications and is not aware of any claims or other information that would give rise to material payments under such indemnities. Litigation A few of the Company's subsidiaries are involved in legal proceedings relating to the cleanup of waste disposal sites identified under federal and state statutes which provide for the allocation of such costs among ""potentially responsible parties."" In each instance, the extent of the Company's liability appears to be relatively insignificant in relation to the total projected expenditures and the number of other ""potentially responsible parties"" involved and is anticipated to be immaterial to the Company. In addition, a few of the Company's subsidiaries are involved in ongoing remedial activities at certain current and former plant sites, in cooperation with regulatory agencies, and appropriate estimated liabilities have been established. At December 31, 2025 and December 31, 2024, these estimated liabilities for environmental and other matters, including private party claims for exposure to hazardous substances that are probable and estimable, were not significant. See Note …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

"12. Borrowings Borrowings consist of the following: December 31, 2025 December 31, 2024 Short-term Current portion of long-term debt $ 706,677 $ 399,411 Other 645 Short-term borrowings and current portion of long-term debt $ 706,677 $ 400,056 Carrying amount (1) Principal December 31, 2025 December 31, 2024 Long-term 3.15% 10-year notes due November 15, 2025 $ 400,000 $ $ 399,411 1.25% 10-year notes due November 9, 2026 (euro-denominated) 600,000 706,677 622,313 0.750% 8-year notes due November 4, 2027 (euro-denominated) 500,000 588,082 517,863 6.65% 30-year debentures due June 1, 2028 $ 200,000 199,757 199,657 2.950% 10-year notes due November 4, 2029 $ 300,000 298,544 298,166 3.50% 8-year notes due November 12, 2033 (euro-denominated) 550,000 642,927 5.375% 30-year debentures due October 15, 2035 $ 300,000 297,557 297,308 6.60% 30-year notes due March 15, 2038 $ 250,000 248,618 248,505 5.375% 30-year notes due March 1, 2041 $ 350,000 345,810 345,534 Total long-term debt $ 3,327,972 $ 2,928,757 Less current portion of long-term debt (706,677) (399,411) Net long-term debt $ 2,621,295 $ 2,529,346 (1) Carrying amount is net of unamortized debt discount and deferred debt issuance costs. Total unamortized debt discounts were $8.6 million and $8.5 million as of December 31, 2025 and December 31, 2024, respectively. Total deferred debt issuance costs were $9.7 million and $6.8 million as of December 31, 2025 and December 31, 2024, respectively. The discounts are being amortized to …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

"15. Equity and Cash Incentive Program The Company typically makes its annual grants of equity awards pursuant to actions taken by the Compensation Committee of the Board of Directors at its regularly scheduled first quarter meeting. For the years presented herein, employee awards were made pursuant to the terms of the Company's 2021 Omnibus Incentive Plan (the ""2021 Plan"") and 2012 Equity and Cash Incentive Plan (the ""2012 Plan""). On May 7, 2021, the shareholders approved the 2021 Plan, to replace the 2012 Plan, which otherwise would have terminated according to its terms on May 3, 2022. Upon approval of the 2021 Plan, no additional awards could be granted under the 2012 Plan, and the remaining 4,888,197 shares available for additional award grant purposes became available for issuance under the 2021 Plan. The 2021 Plan provides for stock options and SARs, RSUs, PSAs, cash performance awards, directors' shares and deferred stock units. Under the 2021 Plan, a total of 8,300,000 newly authorized shares of common stock are reserved for issuance, resulting in a total of 13,188,197 authorized shares available for issuance. These shares are subject to adjustments resulting from stock dividends, stock splits, recapitalizations, reorganizations and other similar changes. Officers and other key employees, as well as non-employee directors, are eligible to participate in the 2021 Plan, and were also eligible under the 2012 Plan which had a ten-year term between May 3, 2012 to May …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

9. Goodwill and Other Intangible Assets Goodwill The changes in the carrying value of goodwill by reportable operating segments were as follows: Engineered Products Clean Energy & Fueling Imaging & Identification Pumps & Process Solutions Climate & Sustainability Technologies Total Goodwill $ 425,849 $ 1,409,302 $ 1,092,960 $ 1,268,541 $ 511,473 $ 4,708,125 Accumulated impairment loss (1) (10,591) (59,970) (70,561) Balance at January 1, 2024 415,258 1,409,302 1,092,960 1,208,571 511,473 4,637,564 Acquisitions 7,252 315,811 14,188 337,251 Measurement period adjustments 227 371 598 Foreign currency translation (7,246) (29,716) (20,929) (10,944) (876) (69,711) Balance at December 31, 2024 415,264 1,695,397 1,072,031 1,212,042 510,968 4,905,702 Acquisitions 7,364 359,766 367,130 Measurement period adjustments 4,677 (188) 4,489 Foreign currency translation 15,543 51,601 47,577 35,640 2,356 152,717 Balance at December 31, 2025 $ 430,807 $ 1,759,039 $ 1,119,608 $ 1,607,260 $ 513,324 $ 5,430,038 (1) Accumulated impairment loss as of December 31, 2025 is not subject to foreign currency translation. During 2025 and 2024, the Company recognized additions of $367,130 and $337,251, respectively, to goodwill as a result of acquisitions as discussed in Note 3 Acquisitions. During the year ended December 31, 2025, the Company recorded measurement period adjustments that increased goodwill by $4,489 primarily related to the MEC acquisition in the third quarter of 2024 under th …

GoodwillAndIntangibleAssetsDisclosureTextBlock · excerpt; the full note is in the filing

14. Income Taxes Income taxes have been based on the following components of earnings before provision for income taxes and discontinued operations in the consolidated statements of earnings: Years Ended December 31, 2025 2024 2023 Domestic $ 844,403 $ 1,127,389 $ 608,423 Foreign 529,849 629,627 514,577 Total $ 1,374,252 $ 1,757,016 $ 1,123,000 Income tax expense (benefit) related to continuing operations for the years ended December 31, 2025, 2024 and 2023 is comprised of the following: Years Ended December 31, 2025 2024 2023 Current: U.S. federal $ 131,881 $ 233,348 $ 114,195 State and local 18,529 47,199 13,930 Foreign 155,029 168,151 143,216 Total current 305,439 448,698 271,341 Deferred: U.S. federal (8,707) (35,304) (28,471) State and local 1,472 (12,362) 4,047 Foreign (21,381) (43,984) (67,781) Total deferred (28,616) (91,650) (92,205) Provision for income taxes $ 276,823 $ 357,048 $ 179,136 Effective January 1, 2025, the Company adopted ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Taxes Disclosures prospectively. The following table is a reconciliation of the U.S. federal statutory rate of 21% to the Companys effective rate for the year ended December 31, 2025 in accordance with the guidance in ASU No. 2023-09: Year Ended December 31, 2025 Amount Percent U.S. federal income tax rate $ 288,578 21.0 % State and local taxes, net of federal income tax benefit (a) 15,611 1.1 Foreign tax effects Switzerland: Statutory tax rate differential (15,059) (1.1 …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

7. Leases The Company's ROU assets and lease liabilities are discussed in Note 1 Description of Business and Summary of Significant Accounting Policies. The components of lease costs were as follows: Years Ended December 31, 2025 2024 2023 Operating Lease Costs: Fixed $ 66,752 $ 61,464 $ 57,409 Variable 9,346 8,890 8,243 Short-term 21,718 20,564 20,550 Total (1) $ 97,816 $ 90,918 $ 86,202 (1) Finance lease cost and sublease income were immaterial. Supplemental cash flow information related to leases was as follows: Years Ended December 31, 2025 2024 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 65,302 $ 63,093 $ 57,607 Operating cash flows for finance leases 479 443 318 Financing cash flows for finance leases 5,347 4,316 3,231 Total $ 71,128 $ 67,852 $ 61,156 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 48,143 $ 49,021 $ 50,997 Financing leases 3,197 4,469 3,539 Total $ 51,340 $ 53,490 $ 54,536 Supplemental balance sheet information related to leases was as follows : December 31, 2025 December 31, 2024 Operating Leases Right-of-use assets: Other assets and deferred charges $ 229,003 $ 208,379 Lease liabilities: Other accrued expenses $ 52,366 $ 49,646 Other liabilities 194,465 174,905 Total operating lease liabilities $ 246,831 $ 224,551 Finance Leases Right-of-use assets: Property, plant and equipment, net (1) $ 10,422 $ 9,044 Lease liabilities: Other accrued expe …

LesseeOperatingLeasesTextBlock · excerpt; the full note is in the filing

"Recent Accounting Pronouncements Recently Issued Accounting Standards The following accounting standards updates (""ASU""), issued by the Financial Accounting Standards Board (""FASB""), will, or are expected to, result in a change in practice and/or have a financial impact to the Company's consolidated financial statements: In November 2024, the FASB issued ASU No. 2024-03, Income StatementReporting Comprehensive Income (Subtopic 220-40): Expense Disaggregation Disclosures, which expands disclosures of specific expense categories at interim and annual reporting periods. The amendments are effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. The Company is currently evaluating this ASU to determine its impact on the Companys disclosures. In July 2025, the FASB issued ASU No. 2025-05, Financial InstrumentsCredit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets, which provides entities the option of a practical expedient in the estimation of credit losses. The amendments are effective for fiscal years beginning after December 15, 2025, and interim periods within those annual reporting periods. Early adoption is permitted. The Company is currently evaluating this ASU to determine its impact on the Companys consolidated financial statements. The Company expects to adopt this standard as required beginning first quarter of 20 …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

"17. Employee Benefit Plans The Company offers defined contribution retirement plans which cover the majority of its U.S. employees, as well as employees in certain other countries. The Companys expense relating to defined contribution plans was $69,776, $61,384 and $56,597 for the years ended December 31, 2025, 2024 and 2023, respectively. The Company sponsors qualified defined benefit pension plans covering certain employees of the Company and its subsidiaries. The plans' benefits are generally based on years of service and employee compensation. The Company also provides to certain management employees, through non-qualified plans, supplemental retirement benefits in excess of qualified plan limits imposed by federal tax law. The U.S. qualified and non-qualified defined benefit plans were closed to new employees after December 31, 2013. All pension-eligible employees as of December 31, 2013 continued to earn a pension benefit through December 31, 2023 as long as they remained employed by the Company participating in the impacted plans. Effective January 1, 2024, the plans have been frozen for any future benefit accruals. The Company also maintains other post-retirement benefit plans. These plans are closed to new entrants and are not considered to be significant. The supplemental and other post-retirement benefit plans are supported by the general assets of the Company. Obligations and Funded Status The following tables summarize the change in benefit obligations, change i …

PensionAndOtherPostretirementBenefitsDisclosureTextBlock · excerpt; the full note is in the filing

11. Restructuring Activities The Company's restructuring charges by segment were as follows: Years Ended December 31, 2025 2024 2023 Engineered Products $ 4,983 $ 7,847 $ 8,976 Clean Energy & Fueling 13,755 30,858 20,336 Imaging & Identification 4,652 9,960 5,918 Pumps & Process Solutions 9,735 4,956 7,686 Climate & Sustainability Technologies 22,508 15,197 4,541 Corporate 1,110 992 2,444 Total $ 56,743 $ 69,810 $ 49,901 These amounts are classified in the consolidated statements of earnings as follows: Cost of goods and services $ 32,092 $ 37,993 $ 19,352 Selling, general and administrative expenses 24,651 31,817 30,549 Total $ 56,743 $ 69,810 $ 49,901 The restructuring expenses of $56,743 incurred during the year ended December 31, 2025 were primarily related to exit costs and headcount reductions across all segments, most notably within the Climate & Sustainability Technologies and Clean Energy & Fueling segments. These restructuring programs were initiated in 2024 and 2025 and the Company will continue to make proactive adjustments to its cost structure to align with current demand trends. Additional programs, beyond the scope of the announced programs, may be implemented during 2026 with related restructuring charges. Restructuring expenses incurred in 2024 and 2023 were primarily comprised of headcount reductions and product line and other exit costs. The Company's severance and exit accrual activities were as follows: Severance Exit Total Balanc …

RestructuringAndRelatedActivitiesDisclosureTextBlock · excerpt; the full note is in the filing

2. Revenue Revenue from Contracts with Customers A majority of the Company's revenue is short cycle in nature with shipments within one year from order. A small portion of the Company's revenue derives from contracts extending over one year. The Company's payment terms generally range between 30 to 90 days and vary by the location of businesses, the type of products manufactured to be sold and the volume of products sold, among other factors. Disaggregation of Revenue Revenue from contracts with customers is disaggregated by segment and geographic location, as they best depict the nature and amount of the Company's revenue. See Note 19 Segment Information for further details. Performance Obligations A majority of the Company's contracts have a single performance obligation which represents, in most cases, the equipment or product being sold to the customer. Some contracts include multiple performance obligations such as a product and the related installation, extended warranty, software and digital solutions, and/or maintenance services. These contracts require judgment in determining the number of performance obligations. The Company has elected to use the practical expedient to not adjust the promised amount of consideration for the effects of a significant financing component if it is expected, at contract inception, that the period between when the Company transfers a promised good or service to a customer, and when the customer pays for that good or service, will be one …

RevenueFromContractWithCustomerTextBlock · excerpt; the full note is in the filing

"19. Segment Information The Company categorizes its operating companies into five reportable segments: Engineered Products, Clean Energy & Fueling, Imaging & Identification, Pumps & Process Solutions, and Climate & Sustainability Technologies. The Company's businesses are structured around similar business models, go-to market strategies, manufacturing practices and product categories which increases management efficiency and better aligns Dover's operations with its strategic initiatives and capital allocation priorities, and provides greater transparency about performance. Operating segments are defined as the components of an enterprise for which separate financial information is available, that engage in business activities from which they may recognize revenues and incur expenses, and that are regularly evaluated by the entity's chief operating decision maker or decision-making group, which is composed of Dover's Group Executive Committee (""GEC""), in making resource allocation decisions and evaluating performance. The five reportable segments are as follows: Engineered Products segment provides a wide range of equipment, components, software, solutions and services to the vehicle aftermarket, aerospace and defense, industrial winch and hoist, precision soldering and fluid dispensing end-markets. Clean Energy & Fueling segment provides components, equipment, software solutions and services enabling safe and reliable storage, transport, dispensing, a …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

"21. Stockholders' Equity Share Repurchases In November 2020, the Company's Board of Directors approved a standing share repurchase authorization whereby the Company was authorized to repurchase up to 20 million shares beginning on January 1, 2021 through December 31, 2023. In August 2023, the Company's Board of Directors approved a standing share repurchase authorization whereby the Company may repurchase up to 20 million shares beginning on January 1, 2024 through December 31, 2026. This share repurchase authorization replaced the November 2020 share repurchase authorization. On February 29, 2024, the Company entered into a $500,000 accelerated share repurchase agreement (the ""2024 ASR Agreement"") with Citibank, N.A. (""Citibank"") to repurchase its shares in an accelerated share repurchase program (the ""2024 ASR Program""). The 2024 ASR Program is classified as equity, initially recorded at fair value with no subsequent remeasurement. The Company conducted the 2024 ASR Program under the current share repurchase authorization. The Company funded the 2024 ASR Program with net proceeds from commercial paper. Under the terms of the 2024 ASR Agreement, the Company paid Citibank $500,000 on March 1, 2024 and on that date received initial delivery of 2,569,839 shares, representing a substantial majority of the shares expected to be retired over the course of the 2024 ASR Program. In July 2024, Citibank delivered 299,443 additional shares which completed the 2024 ASR Program to …

StockholdersEquityNoteDisclosureTextBlock · excerpt; the full note is in the filing

"3. Acquisitions 2026 Acquisitions One immaterial acquisition was completed during the six months ended June 30, 2026, within the Engineered Products segment. 2025 Acquisitions During the six months ended June 30, 2025, the Company acquired three businesses in separate transactions for total consideration of $653,891, net of cash acquired and inclusive of measurement period adjustments. These businesses were acquired to complement and expand upon existing operations within the Pumps & Process Solutions Segment. The goodwill recorded as a result of these acquisitions represents the economic benefits expected to be derived from product line expansions and operational synergies. Goodwill of $9,250 is deductible for income tax purposes and $350,516 is non-deductible for income tax purposes for these acquisitions. Sikora On June 11, 2025, the Company acquired 99.8% of the equity interest in Sikora AG (""Sikora""), a provider of precision measurement, inspection and control solutions for production processes in the wires and cables, hoses, optical fibers and plastic industries for $608,459, net of cash acquired and inclusive of measurement period adjustments. The Sikora acquisition strengthens the Company's offerings in the Pumps & Process Solutions segment. In connection with this acquisition, the Company recorded goodwill of $340,478 and intangible assets of $219,058 for customer intangibles, $72,942 for unpatented technology and $17,690 for trademarks. The fair value for …

BusinessCombinationDisclosureTextBlock · excerpt; the full note is in the filing

"14. Commitments and Contingent Liabilities Litigation A few of the Companys subsidiaries are involved in legal proceedings relating to the cleanup of waste disposal sites identified under federal and state statutes which provide for the allocation of such costs among ""potentially responsible parties."" In each instance, the extent of the Companys liability appears to be relatively insignificant in relation to the total projected expenditures and the number of other ""potentially responsible parties"" involved and is anticipated to be immaterial to the Company. In addition, a few of the Companys subsidiaries are involved in ongoing remedial activities at certain current and former plant sites, in cooperation with regulatory agencies, and appropriate estimated liabilities have been established. At June 30, 2026 and December 31, 2025, these estimated liabilities for environmental and other matters, including private party claims for exposure to hazardous substances that are probable and estimable, were not significant. The Company and some of its subsidiaries are also parties to a number of other legal proceedings incidental to their businesses. These proceedings primarily involve claims by private parties alleging injury arising out of use of the Companys products, patent infringement, employment matters and commercial disputes. Management and legal counsel, at least quarterly, review the probable outcome of such proceedings, the costs and expenses reasonably expected to be i …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

"10. Borrowings Borrowings consist of the following: Carrying amount (1) Principal June 30, 2026 December 31, 2025 Long-term 1.25% 10-year notes due November 9, 2026 (euro-denominated) 600,000 681,792 706,677 0.750% 8-year notes due November 4, 2027 (euro-denominated) 500,000 567,305 588,082 6.65% 30-year debentures due June 1, 2028 $ 200,000 199,808 199,757 2.950% 10-year notes due November 4, 2029 $ 300,000 298,734 298,544 3.50% 8-year notes due November 12, 2033 (euro-denominated) 550,000 620,043 642,927 5.375% 30-year debentures due October 15, 2035 $ 300,000 297,682 297,557 6.60% 30-year notes due March 15, 2038 $ 250,000 248,675 248,618 5.375% 30-year notes due March 1, 2041 $ 350,000 345,949 345,810 Total long-term debt 3,259,988 3,327,972 Less long-term debt current portion (681,792) (706,677) Net long-term debt $ 2,578,196 $ 2,621,295 (1) Carrying amount is net of unamortized debt discount and deferred debt issuance costs. Total unamortized debt discounts on total long-term debt were $7.5 million and $8.6 million as of June 30, 2026 and December 31, 2025, respectively. Total deferred debt issuance costs on total long-term debt were $8.6 million and $9.7 million as of June 30, 2026 and December 31, 2025, respectively. The discounts are being amortized to interest expense using the effective interest method over the life of the issuances. The deferred issuance costs are amortized on a straight-line basis over the life of the debt, as this approximates the effective int …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

"13. Equity Incentive Program The Company typically makes its annual grants of equity awards pursuant to actions taken by the Compensation Committee of the Board of Directors at its regularly scheduled first quarter meeting. During the six months ended June 30, 2026, the Company issued stock-settled appreciation rights (""SARs"") covering 266,199 shares, performance share awards (""PSAs"") of 32,294 and restricted stock units (""RSUs"") of 56,039. During the six months ended June 30, 2025, the Company issued SARs covering 283,082 shares, PSAs of 34,458 and RSUs of 57,625. The Company uses the Black-Scholes option pricing model to determine the fair value of each SAR on the date of grant. Expected volatilities are based on Dover's stock price history, including implied volatilities from traded options on Dover stock. The Company uses historical data to estimate SAR exercise and employee termination patterns within the valuation model. The expected life of SARs granted is derived from the output of the option valuation model and represents the average period of time that SARs granted are expected to be outstanding. The interest rate for periods within the contractual life of the awards is based on the U.S. Treasury yield curve in effect at the time of grant. The assumptions used in determining the fair value of the SARs awarded during the respective periods were as follows: SARs 2026 2025 Risk-free interest rate 3.66 % 4.35 % Dividend yield 0.90 % 1.02 % Expected life (years) 5 …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

8. Goodwill and Other Intangible Assets The changes in the carrying value of goodwill by reportable segment were as follows: Engineered Products Clean Energy & Fueling Imaging & Identification Pumps & Process Solutions Climate & Sustainability Technologies Total Balance at January 1, 2026 $ 430,807 $ 1,759,039 $ 1,119,608 $ 1,607,260 $ 513,324 $ 5,430,038 Measurement period adjustments 5,592 5,592 Foreign currency translation (5,035) (18,838) (14,752) (19,539) (802) (58,966) Balance at June 30, 2026 $ 425,772 $ 1,740,201 $ 1,104,856 $ 1,593,313 $ 512,522 $ 5,376,664 During the six months ended June 30, 2026, the Company recognized measurement period adjustments of $5,592 related to the Sikora acquisition in the second quarter of 2025 in the Pumps & Process Solutions segment. The Companys definite-lived and indefinite-lived intangible assets by major asset class were as follows: June 30, 2026 December 31, 2025 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortized intangible assets: Customer intangibles $ 2,634,594 $ 1,431,499 $ 1,203,095 $ 2,663,551 $ 1,369,528 $ 1,294,023 Trademarks 307,912 187,348 120,564 311,501 180,564 130,937 Patents 195,994 151,422 44,572 197,671 148,694 48,977 Unpatented technologies 363,957 213,845 150,112 369,832 203,960 165,872 Distributor relationships 83,966 76,759 7,207 85,840 75,919 9,921 Other 35,019 14,690 20,329 28,301 15,147 13,154 To …

GoodwillAndIntangibleAssetsDisclosureTextBlock · excerpt; the full note is in the filing

12. Income Taxes The effective tax rates for the three months ended June 30, 2026 and 2025 were 19.4% and 20.4%, respectively. The decrease in the effective tax rate for the three months ended June 30, 2026 relative to the prior year comparable period was primarily driven by an internal reorganization in 2026. The effective tax rates for the six months ended June 30, 2026 and 2025 were 19.7% and 19.8%, respectively. Dover and its subsidiaries file tax returns in the U.S., including various state and local returns, and in other foreign jurisdictions. The Company is routinely audited by taxing authorities in its filing jurisdictions, and a number of these audits are currently underway. We believe adequate provision has been made for all income tax uncertainties.

IncomeTaxDisclosureTextBlock

Recently Issued Accounting Standards In November 2024, the FASB issued ASU No. 2024-03, Income StatementReporting Comprehensive Income (Subtopic 220-40): Expense Disaggregation Disclosures, which expands disclosures of specific expense categories at interim and annual reporting periods. The amendments are effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. The Company is currently evaluating this ASU to determine its impact on the Companys disclosures. In May 2026, the FASB issued ASU No. 2026-02, Environmental Credits and Environmental Credit Obligations, which provides specific guidelines for the recognition, measurement, presentation, and disclosure requirements of environmental credits and environmental credit obligations. The amendments are effective for fiscal years beginning after December 15, 2027, and interim periods within those annual reporting periods. Early adoption is permitted. The Company is currently evaluating this ASU to determine its impact on the Company's disclosures. Recently Adopted Accounting Standard In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which expands the disclosures required in an entitys income tax rate reconciliation table and requires disclosure of income taxes paid both in U.S. and foreign jurisdictions. The amendments are effective for fiscal years beginn …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

9. Restructuring Activities The Company's restructuring charges by segment were as follows: Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Engineered Products $ 5,087 $ 563 $ 6,811 $ 3,031 Clean Energy & Fueling 1,453 2,676 8,995 4,444 Imaging & Identification 1,789 319 2,825 488 Pumps & Process Solutions 2,754 2,646 13,725 4,591 Climate & Sustainability Technologies 5,826 7,144 14,352 8,810 Corporate 103 181 515 475 Total $ 17,012 $ 13,529 $ 47,223 $ 21,839 These amounts are classified in the condensed consolidated statements of earnings as follows: Cost of goods and services $ 8,282 $ 10,136 $ 25,171 $ 14,456 Selling, general and administrative expenses 8,730 3,393 22,052 7,383 Total $ 17,012 $ 13,529 $ 47,223 $ 21,839 The restructuring expenses of $17,012 and $47,223 incurred during the three and six months ended June 30, 2026 were primarily related to headcount reductions and exit costs in the Climate & Sustainability Technologies, Pumps & Process Solutions, Clean Energy & Fueling and Engineered Products segments. These restructuring programs were initiated in 2025 and 2026 and the Company will continue to make proactive adjustments to its cost structure to align with current demand trends. The Companys severance and exit accrual activities were as follows: Severance Exit Total Balance at January 1, 2026 $ 15,155 $ 3,439 $ 18,594 Restructuring charges 31,322 15,901 (1) 47,223 Payments (21,964) (11,447) (33,411) Other, …

RestructuringAndRelatedActivitiesDisclosureTextBlock · excerpt; the full note is in the filing

"2. Revenue Revenue from Contracts with Customers A majority of the Companys revenue is short cycle in nature with shipments within one year from order. A small portion of the Companys revenue derives from contracts extending over one year. The Company's payment terms generally range between 30 to 90 days and vary by the location of businesses, the type of products manufactured to be sold and the volume of products sold, among other factors. Disaggregation of Revenue Revenue from contracts with customers is disaggregated by segment and geographic location, as these categories best depict the nature and amount of the Companys revenue. See Note 16 Segment Information for further details. Performance Obligations Approximately 95% of the Companys revenue is recognized at a point in time, rather than over time as the Company completes its performance obligations. Specifically, revenue is recognized when control transfers to the customer, typically upon shipment or completion of installation, testing, certification, or other substantive acceptance provisions required under the contract. Approximately 5% of the Companys revenue is recognized over time. A majority of the Company's contracts have a single performance obligation which represents, in most cases, the equipment or product being sold to the customer. Some contracts include multiple performance obligations such as a product and the related installation, extended warranty, software and digital solutions, and/or maintenance s …

RevenueFromContractWithCustomerTextBlock · excerpt; the full note is in the filing

16. Segment Information The Company categorizes its operating companies into five reportable segments: Engineered Products, Clean Energy & Fueling, Imaging & Identification, Pumps & Process Solutions, and Climate & Sustainability Technologies. The Company's businesses are structured around similar business models, go-to market strategies, manufacturing practices and product categories which increases management efficiency and better aligns Dover's operations with its strategic initiatives and capital allocation priorities, and provides greater transparency about performance. Operating segments are defined as the components of an enterprise for which separate financial information is available, that engage in business activities from which they may recognize revenues and incur expenses, and that are regularly evaluated by the entity's chief operating decision maker or decision-making group, which is composed of Dover's Group Executive Committee, in making resource allocation decisions and evaluating performance. The five reportable segments are as follows: Engineered Products segment provides a wide range of equipment, components, software, solutions and services to the vehicle aftermarket, aerospace and defense, industrial winch and hoist, precision soldering and fluid dispensing end-markets. Clean Energy & Fueling segment provides components, equipment, software solutions and services enabling safe and reliable storage, transport, dispensing, and remote m …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing