DOVER Corp Files 2023 Annual Report on Form 10-K

TL;DR

<b>DOVER Corp has submitted its 2023 annual report (10-K) detailing its financial performance and business operations for the fiscal year ending December 31, 2023.</b>

AI Summary

DOVER Corp (DOV) filed a Annual Report (10-K) with the SEC on February 9, 2024. DOVER Corp filed its 2023 Form 10-K on February 9, 2024. The filing covers the fiscal year ending December 31, 2023. The company's principal business is in Construction, Mining & Materials Handling Machinery & Equipment. DOVER Corp is incorporated in Delaware. The company's headquarters are located in Downers Grove, Illinois.

Why It Matters

For investors and stakeholders tracking DOVER Corp, this filing contains several important signals. This 10-K filing provides a comprehensive overview of DOVER Corp's financial health, operational performance, and strategic direction for investors and stakeholders. Understanding the details within this report is crucial for assessing the company's past performance and future prospects in the industrial machinery sector.

Risk Assessment

Risk Level: medium — DOVER Corp shows moderate risk based on this filing. The filing is a standard 10-K, which is a routine annual disclosure. However, the specific financial performance and risk factors detailed within the report will determine the actual risk level for investors.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to understand DOVER Corp's performance and potential challenges.

Key Numbers

• 20231231 — Fiscal Year End (CONFORMED PERIOD OF REPORT)
• 20240209 — Filing Date (FILED AS OF DATE)
• 149 — Public Document Count (PUBLIC DOCUMENT COUNT)
• 001-04018 — SEC File Number (SEC FILE NUMBER)

Key Players & Entities

• DOVER Corp (company) — FILER
• DOVER Corp (company) — COMPANY CONFORMED NAME
• CONSTRUCTION, MINING & MATERIALS HANDLING MACHINERY & EQUIP (company) — STANDARD INDUSTRIAL CLASSIFICATION
• DE (company) — STATE OF INCORPORATION
• Downers Grove (company) — CITY
• DOVER CORP (company) — FORMER COMPANY

Forward-Looking Statements

• DOVER Corp will continue to provide detailed financial disclosures in future 10-K filings. (DOVER Corp) — high confidence, target: 2025-02-01

FAQ

Industry Context

DOVER Corp operates in the industrial machinery sector, specifically focusing on construction, mining, and materials handling equipment.

Regulatory Implications

The company is subject to standard SEC regulations for public companies, including the requirement to file annual reports (10-K) under the Securities Exchange Act of 1934.

What Investors Should Do

1. Analyze DOVER Corp's revenue streams and segment performance.
2. Examine the company's balance sheet and debt levels.
3. Review any disclosed risk factors and management's mitigation strategies.

Key Dates

• 2024-02-09: 10-K Filing — Filing of the annual report for the fiscal year 2023.
• 2023-12-31: Fiscal Year End — End of the reporting period for the 2023 fiscal year.

Year-Over-Year Comparison

This is the initial filing of the 2023 Form 10-K, so a direct comparison to a prior year's 10-K within this specific document is not possible.

Key Financial Figures

• $1 — ch Registered Common Stock, par value $1 DOV New York Stock Exchange 1.250% Not
• $147.65 — site Transactions for June 30, 2023 was $147.65 per share. The number of outstanding sh

Filing Documents

• dov-20231231.htm (10-K) — 3175KB
• a20231231ex1038ssaragreeme.htm (EX-10.38) — 13KB
• a20231231ex1039rsuagreemen.htm (EX-10.39) — 11KB
• a20231231ex1040psuagreemen.htm (EX-10.40) — 20KB
• a2023123110-kexhibit21.htm (EX-21) — 165KB
• a2023123110-kexhibit23.htm (EX-23) — 2KB
• a2023123110-kexhibit311.htm (EX-31.1) — 10KB
• a2023123110-kexhibit312.htm (EX-31.2) — 10KB
• a2023123110-kexhibit32.htm (EX-32) — 9KB
• a2023123110-kexhibit971.htm (EX-97.1) — 33KB
• dov-20231231_g1.jpg (GRAPHIC) — 26KB
• image_0.jpg (GRAPHIC) — 5KB
• image_01.jpg (GRAPHIC) — 5KB
• image_02.jpg (GRAPHIC) — 5KB
• 0000029905-24-000008.txt (&nbsp;) — 18029KB
• dov-20231231.xsd (EX-101.SCH) — 84KB
• dov-20231231_cal.xml (EX-101.CAL) — 173KB
• dov-20231231_def.xml (EX-101.DEF) — 544KB
• dov-20231231_lab.xml (EX-101.LAB) — 1327KB
• dov-20231231_pre.xml (EX-101.PRE) — 930KB
• dov-20231231_htm.xml (XML) — 3493KB

Business

Business 4 Item 1A.

Risk Factors

Risk Factors 17 Item 1B. Unresolved Staff Comments 23

C

Item 1 C . C yber securit y 23 Item 2.

Properties

Properties 25 Item 3.

Legal Proceedings

Legal Proceedings 25 Item 4. Mine Safety Disclosures 25 Information About Our Executive Officers 26 PART II Item 5. Market for Registrant's Common Equity, Related Shareholder Matters and Issuer Purchases of Equity Securities 27 Item 6. [Reserved] 28 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 29 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 49 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 50 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 101 Item 9A.

Controls and Procedures

Controls and Procedures 101 Item 9B. Other Information 102 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 102 PART III Item 10. Directors and Executive Officers and Corporate Governance 103 Item 11.

Executive Compensation

Executive Compensation 104 Item 12.

Security Ownership of certain Beneficial Owners and Management and Related Shareholder Matters

Security Ownership of certain Beneficial Owners and Management and Related Shareholder Matters 104 Item 13. Certain Relationships and Related Transactions and Director Independence 105 Item 14 . Principal Accountant Fees and Services 105 PART IV Item 15. Exhibits and Financial Statement Schedules 106 Item 16. Form 10-K Summary 110

SIGNATURES

SIGNATURES 111 3 Table of Contents PART I

BUSINESS

ITEM 1. BUSINESS Overview Dover Corporation is a diversified global manufacturer and solutions provider delivering innovative equipment and components, consumable supplies, aftermarket parts, software and digital solutions and support services through five operating segments: Engineered Products, Clean Energy & Fueling, Imaging & Identification, Pumps & Process Solutions, and Climate & Sustainability Technologies. Unless the context indicates otherwise, references herein to "Dover," "the Company," and words such as "we," "us," or "our" include Dover Corporation and its consolidated subsidiaries. Dover was incorporated in 1947 in the State of Delaware and became a publicly traded company in 1955. Dover is headquartered in Downers Grove, Illinois and currently employs over 25,000 people worldwide. Dover's five segments are structured around businesses with similar business models, go-to-market strategies, product categories, and manufacturing practices. This structure increases management efficiency and better aligns Dover's operations with its strategic initiatives and capital allocation priorities, and provides greater transparency about performance to external stakeholders. Dover's five operating and reportable segments are as follows: Our Engineered Products segment provides a wide range of equipment, components, software, solutions and services to the vehicle aftermarket, waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-markets. Our Clean Energy & Fueling segment provides components, equipment, software, solutions and services enabling safe and reliable storage, transport and dispensing of traditional and clean fuels (including liquefied natural gas, hydrogen, and electric vehicle charging), cryogenic gases, and other hazardous substances along the supply chain, and safe and efficient operation of convenience retail, retail fueling and vehicle wash establishments. Our Imaging & Identifi

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View this 10-K filing on SEC EDGAR