Donaldson Co. Inc. Files 2024 Annual Report
Ticker: DCI · Form: 10-K · Filed: Sep 27, 2024 · CIK: 29644
Sentiment: neutral
Topics: annual-report, financials
TL;DR
DON's 2024 10-K is in. Full financials and biz details out now.
AI Summary
Donaldson Co. Inc. filed its 10-K for the fiscal year ending July 31, 2024, reporting on its operations in industrial and commercial fans, blowers, and air purifying equipment. The company, headquartered in Bloomington, MN, is a long-standing entity incorporated in Delaware. This filing provides a comprehensive overview of its financial performance and business activities for the period.
Why It Matters
This 10-K filing provides investors and stakeholders with a detailed look at Donaldson's financial health and strategic direction for the fiscal year 2024, impacting investment decisions.
Risk Assessment
Risk Level: low — The filing is a standard annual report and does not indicate any immediate or unusual risks.
Key Players & Entities
- DONALDSON Co INC (company) — Filer
- 20240731 (date) — Fiscal Year End
- Bloomington, MN (location) — Company Headquarters
- DE (location) — State of Incorporation
- 0000029644-24-000111 (filing_id) — Accession Number
FAQ
What is Donaldson Co. Inc.'s primary business as described in the 10-K?
Donaldson Co. Inc. is primarily involved in industrial and commercial fans, blowers, and air purifying equipment, as indicated by its SIC code [3564].
When did Donaldson Co. Inc. last change its name?
The company's name was last changed on July 3, 1992.
What is the filing date of this 10-K report?
This 10-K report was filed on September 27, 2024.
Where is Donaldson Co. Inc. headquartered?
Donaldson Co. Inc. is headquartered at 1400 W. 94th St., Bloomington, MN 55431.
What is the SEC file number for Donaldson Co. Inc.'s 10-K filing?
The SEC file number for this 10-K filing is 001-07891.
Filing Stats: 4,103 words · 16 min read · ~14 pages · Grade level 16 · Accepted 2024-09-27 14:25:49
Key Financial Figures
- $5.00 — ange on which registered Common Stock, $5.00 par value DCI New York Stock Exchange
- $64.59 — ,445,706 (based on the closing price of $64.59 as reported on the New York Stock Excha
- $574.7 million — days as of July 31, 2024 and 2023 were $574.7 million and $576.4 million, respectively. Sea
- $576.4 m — , 2024 and 2023 were $574.7 million and $576.4 million, respectively. Seasonality Man
- $93.6 m — 2024, 2023 and 2022, the Company spent $93.6 million, $78.1 million and $69.1 million,
- $78.1 million — 2022, the Company spent $93.6 million, $78.1 million and $69.1 million, respectively, on res
- $69.1 m — spent $93.6 million, $78.1 million and $69.1 million, respectively, on research and de
Filing Documents
- dci-20240731.htm (10-K) — 2323KB
- exhibit10-aadci20240731.htm (EX-10.AA) — 126KB
- exhibit10-idci20240731.htm (EX-10.I) — 16KB
- exhibit19dci20240731.htm (EX-19) — 66KB
- exhibit21dci20240731.htm (EX-21) — 31KB
- exhibit23dci20240731.htm (EX-23) — 3KB
- exhibit24dci20240731.htm (EX-24) — 48KB
- exhibit31-adci20240731.htm (EX-31.A) — 12KB
- exhibit31-bdci20240731.htm (EX-31.B) — 12KB
- exhibit32dci20240731.htm (EX-32) — 12KB
- exhibit97dci20240731.htm (EX-97) — 25KB
- dci-20240731_g1.jpg (GRAPHIC) — 10KB
- dci-20240731_g2.jpg (GRAPHIC) — 123KB
- dci-20240731_g3.jpg (GRAPHIC) — 63KB
- dci-20240731_g4.jpg (GRAPHIC) — 97KB
- dci-20240731_g5.jpg (GRAPHIC) — 57KB
- dci-20240731_g6.jpg (GRAPHIC) — 55KB
- dci-20240731_g7.jpg (GRAPHIC) — 56KB
- dci-20240731_g8.jpg (GRAPHIC) — 56KB
- 0000029644-24-000111.txt ( ) — 15509KB
- dci-20240731.xsd (EX-101.SCH) — 77KB
- dci-20240731_cal.xml (EX-101.CAL) — 128KB
- dci-20240731_def.xml (EX-101.DEF) — 461KB
- dci-20240731_lab.xml (EX-101.LAB) — 1101KB
- dci-20240731_pre.xml (EX-101.PRE) — 826KB
- dci-20240731_htm.xml (XML) — 2478KB
Business
Business 1 Item 1A.
Risk Factors
Risk Factors 10 Item 1B. Unresolved Staff Comments 14 I tem 1C. Cybersecurity 14 Item 2.
Properties
Properties 15 Item 3.
Legal Proceedings
Legal Proceedings 15 Item 4. Mine Safety Disclosures 15 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 15 Item 6. [Reserved] 16 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 16 Item 7A.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 30 Item 8.
Financial Statements and Supplementary Data
Financial Statements and Supplementary Data 33 Report of Independent Registered Public Accounting Firm 33 Consolidated Statements of Earnings 35 Consolidated Statements of Comprehensive Income 36 Consolidated Balance Sheets 37 Consolidated Statements of Cash Flows 38 Consolidated Statements of Changes in Stockholders' Equity 39
Notes to Consolidated Financial Statements
Notes to Consolidated Financial Statements 40 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 70 Item 9A.
Controls and Procedures
Controls and Procedures 70 Item 9B. Other Information 71 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 71 PART III Item 10. Directors, Executive Officers and Corporate Governance 71 Item 11.
Executive Compensation
Executive Compensation 71 Item 12.
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 71 Item 13. Certain Relationships and Related Transactions and Director Independence 71 Item 14. Principal Accountant Fees and Services 71 PART IV Item 15. Exhibits and Financial Statement Schedules 72 Item 16. Form 10-K Summary 73
Signatures
Signatures 74 PART I
Business
Item 1. Business The Company Founded in 1915, Donaldson Company, Inc. (the Company or Donaldson) is a global leader in technology-led filtration products and solutions, serving a broad range of industries and advanced markets. Donaldson's diverse and skilled employees at approximately 150 locations on six continents, 77 of which are manufacturing and/or distribution centers, partner with customers — from small business owners to the world's largest original equipment manufacturer (OEM) brands — to solve complex filtration challenges. Customers choose Donaldson's filtration solutions due to their stringent performance requirements and need for reliability. Donaldson's four regions and their contributing share of fiscal year 2024 revenue are as follows: the U.S. and Canada 44.1%; Europe, Middle East and Africa (EMEA) 28.2%; Asia Pacific (APAC) 16.8%; and Latin America (LATAM) 10.9%. Below are the Company's manufacturing plants and distribution centers by region. Strategic Priorities The company has three primary strategic priorities to drive profitable growth. Below are each of the priorities and areas of focus related to each priority. Extend Market Access - Grow Addressable Market by Extending Presence Across Adjacencies Significantly grow presence in bioprocessing markets organically and inorganically within Life Sciences segment Strengthen position across alternative power solutions through innovated and differentiated products Expand Technologies and Solutions - Leverage Foundational Filtration Capabilities to Expand Best-in-class Technology and Service Offerings Expand Industrial Solutions connected service offerings to gain additional aftermarket share Enhance digital experience through stronger data integration and navigation capabilities Pursue Strategic Acquisitions - Accelerate Long-term Growth Through Strategic Acquisitions in High-margin Areas Strengthen presence in bioprocessing capabilities with disruptive technologies Penetrate underser