0000029905-26-000015 | 10-Q | XBRL Viewer

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Earnings per Share - Reconciliation of the information (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Reconciliation of information used in computing basic and diluted earnings per share [Abstract]
Earnings from continuing operations	$ 238,749	$ 239,241
Loss from discontinued operations, net	(316)	(8,420)
Net earnings	$ 238,433	$ 230,821
Basic earnings per common share:
Earnings from continuing operations (in dollars per share)	$ 1.77	$ 1.74
Loss from discontinued operations, net (in dollars per share)	0	(0.06)
Basic (in dollars per share)	$ 1.77	$ 1.68
Weighted average shares outstanding (in shares)	134,977	137,267
Diluted earnings per common share:
Earnings from continuing operations (in dollars per share)	$ 1.76	$ 1.73
Loss from discontinued operations, net (in dollars per share)	0	(0.06)
Diluted (in dollars per share)	$ 1.75	$ 1.67
Weighted average shares outstanding (in shares)	135,895	138,260

Discontinued and Disposed Operations (Details) $ in Thousands	1 Months Ended	3 Months Ended
	Jun. 30, 2025 USD ($)	Mar. 31, 2026 USD ($) disposition	Mar. 31, 2025 USD ($)	Dec. 31, 2025 disposition	Oct. 08, 2024 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
(Loss) earnings from discontinued operations, net		$ (316)	$ (8,420)
Number of dispositions \| disposition		0		0
Discontinued Operations, Disposed of by Sale \| ESG
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total consideration, net of cash transferred					$ 2,000,000
Adjustments on other post-closing, before tax		$ 400	862
Adjustments on other post-closing, after tax		$ 316	681
Adjustments on net working capital, before tax			9,796
Adjustments on net working capital, after tax			$ 7,739
Verdict returned for alleged breach of contract, amount	$ 58,900

Basis of Presentation	3 Months Ended
Basis of Presentation	Mar. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	1. Basis of Presentation The accompanying unaudited interim condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC") for interim periods and do not include all of the information and note disclosures required by accounting principles generally accepted in the United States of America ("GAAP") for complete financial statements. These unaudited interim condensed consolidated financial statements should therefore be read in conjunction with the Consolidated Financial Statements and Notes for Dover Corporation ("Dover" or the "Company") for the year ended December 31, 2025, included in the Company's Annual Report on Form 10-K filed with the SEC on February 13, 2026. The year-end consolidated balance sheet was derived from audited financial statements. The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with U.S. GAAP. The preparation of these financial statements requires us to make estimates and assumptions that affect amounts reported in the condensed consolidated financial statements and accompanying disclosures. Although these estimates are based on management’s knowledge of current events and expectations about actions that the Company may undertake in the future, actual results may differ from those estimates. Our interim condensed consolidated financial statements are unaudited but reflect all adjustments of a normal, recurring nature that are, in the opinion of management, necessary for a fair statement of results for these interim periods. The results of operations of any interim period are not necessarily indicative of the results of operations for the full year. The Environmental Solutions Group ("ESG") business, an operating company within the Engineered Products segment, was sold during the fourth quarter of 2024 and reported as discontinued operations. Therefore, the Company has classified the results of operations related to the disposal of ESG as discontinued operations in the condensed consolidated statements of earnings and the condensed consolidated statements of cash flows. The discussion in the notes to these condensed consolidated financial statements, unless otherwise noted, relates solely to our continuing operations. See Note 4 — Discontinued and Disposed Operations for further details.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Operating Activities:
Net earnings	$ 238,433	$ 230,821
Adjustments to reconcile net earnings to cash provided by operating activities:
Loss from discontinued operations, net	316	8,420
Depreciation and amortization	97,421	87,418
Stock-based compensation expense	20,960	23,874
Gain on dispositions	0	(2,468)
Other, net	5,061	1,547
Cash effect of changes in assets and liabilities:
Accounts receivable, net	(78,959)	(5,475)
Inventories	(105,517)	(49,277)
Prepaid expenses and other assets	(31,797)	(11,582)
Accounts payable	107,984	(18,522)
Accrued compensation and employee benefits	(104,233)	(127,826)
Accrued expenses and other liabilities	19,245	7,851
Accrued and deferred taxes, net	22,083	12,693
Net cash provided by operating activities	190,997	157,474
Investing Activities:
Additions to property, plant and equipment	(59,808)	(48,192)
Acquisitions, net of cash and cash equivalents acquired	(665)	(29,287)
Proceeds from dispositions, net of cash transferred	0	3,804
Other	(1,187)	(511)
Net cash used in investing activities	(61,660)	(74,186)
Financing Activities:
Repurchase of common stock	(53,937)	(40,700)
Dividends paid to stockholders	(70,446)	(71,399)
Payments to settle employee tax obligations on exercise of share-based awards	(29,704)	(9,003)
Other	(7,364)	(1,132)
Net cash used in financing activities	(161,451)	(122,234)
Cash Flows from Discontinued Operations:
Net cash used in operating activities of discontinued operations	(400)	(862)
Net cash used in discontinued operations	(400)	(862)
Effect of exchange rate changes on cash and cash equivalents	(2,378)	251
Net decrease in cash and cash equivalents	(34,892)	(39,557)
Cash and cash equivalents at beginning of period	1,676,808	1,844,877
Cash and cash equivalents at end of period	$ 1,641,916	$ 1,805,320

Equity Incentive Program - Narrative (Details) - $ / shares	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period		3 years
Stock Appreciation Rights (SARs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity awards issued during period (in shares)	266,199	282,917
Grant price (in dollars per share)	$ 231.63	$ 202.33
Fair value per share at date of grant (in dollars per share)	$ 61.59	$ 66.39
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity awards issued during period (in shares)	32,294	34,458
Grant price (in dollars per share)	$ 231.63	$ 202.33
Award vesting period	3 years
Fair value per share at date of grant (in dollars per share)	$ 403.67	$ 318.38
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity awards issued during period (in shares)	56,039	57,614
Fair value per share at date of grant (in dollars per share)	$ 231.63	$ 202.33

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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+ Details

Segment Information - Selected Financial Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025	Dec. 31, 2025
Capital expenditures:
Capital expenditures:	$ 59,808	$ 48,192
Total assets	13,506,680		$ 13,422,423
Operating Segments \| Engineered Products
Capital expenditures:
Capital expenditures:	5,615	5,822
Total assets	1,102,991		1,091,594
Operating Segments \| Clean Energy & Fueling
Capital expenditures:
Capital expenditures:	12,123	11,093
Total assets	3,619,224		3,607,567
Operating Segments \| Imaging & Identification
Capital expenditures:
Capital expenditures:	9,479	9,656
Total assets	1,840,238		1,827,454
Operating Segments \| Pumps & Process Solutions
Capital expenditures:
Capital expenditures:	13,879	12,467
Total assets	3,443,584		3,479,147
Operating Segments \| Climate & Sustainability Technologies
Capital expenditures:
Capital expenditures:	17,878	8,598
Total assets	1,525,201		1,426,174
Corporate
Capital expenditures:
Capital expenditures:	834	$ 556
Total assets	$ 1,975,442		$ 1,990,487

Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Millions		1 Months Ended	3 Months Ended
	Apr. 02, 2026	Apr. 23, 2026	Mar. 31, 2026
Revolving Credit Facility \| Credit Agreement
Subsequent Event [Line Items]
Maximum borrowing capacity			$ 1,000.0
Term of debt			5 years
Revolving Credit Facility \| Credit Facility Maturing April 2026
Subsequent Event [Line Items]
Maximum borrowing capacity			$ 500.0
Term of debt			364 days
Subsequent Event \| Revolving Credit Facility \| Credit Facility Maturing April 2031
Subsequent Event [Line Items]
Maximum borrowing capacity	$ 1,500.0
Term of debt	5 years
Subsequent Event \| Revolving Credit Facility \| Credit Agreement
Subsequent Event [Line Items]
Maximum borrowing capacity	$ 1,000.0
Term of debt	5 years
Subsequent Event \| Revolving Credit Facility \| Credit Facility Maturing April 2026
Subsequent Event [Line Items]
Maximum borrowing capacity	$ 500.0
Term of debt	364 days
Subsequent Event \| April 2026 ASR Agreement
Subsequent Event [Line Items]
Number of shares repurchased (in shares)		2,487,662
Repurchase price (in dollars per share)		$ 200.99
Subsequent Event \| April 2026 ASR Agreement \| April 2026, JP Morgan
Subsequent Event [Line Items]
Number of shares repurchased (in shares)		153,652

Inventories, net (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Inventory Disclosure [Abstract]
Raw materials	$ 840,868	$ 765,453
Work in progress	258,015	235,523
Finished goods	422,539	422,229
Subtotal	1,521,422	1,423,205
Less reserves	(150,586)	(150,421)
Total	$ 1,370,836	$ 1,272,784

Property, Plant and Equipment, net

3 Months Ended

Mar. 31, 2026

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment, net

6. Property, Plant and Equipment, net


	March 31, 2026		December 31, 2025
Land	$	67,929	$	68,650
Buildings and improvements	715,340		705,756

Machinery, equipment and other	2,180,818		2,170,149
Property, plant and equipment, gross	2,964,087		2,944,555
Accumulated depreciation	(1,849,707)		(1,824,932)
Property, plant and equipment, net	$	1,114,380	$	1,119,623

Depreciation expense totaled $43,718 and $38,669 for the three months ended March 31, 2026 and 2025, respectively.

Stockholders' Equity	3 Months Ended
Stockholders' Equity	Mar. 31, 2026
Equity [Abstract]
Stockholders' Equity	17. Stockholders' Equity Share Repurchases In August 2023, the Company's Board of Directors approved a new standing share repurchase authorization whereby the Company may repurchase up to 20 million shares beginning on January 1, 2024 through December 31, 2026. On November 10, 2025, the Company entered into a $500,000 accelerated share repurchase agreement (the "ASR Agreement") with JP Morgan Chase Bank, N.A. ("JP Morgan") to repurchase its shares in an accelerated share repurchase program (the "ASR Program"). The ASR Program is classified as equity, initially recorded at fair value with no subsequent remeasurement. The Company conducted the ASR Program under the current share repurchase authorization. The Company funded the ASR Program with cash on hand. Under the terms of the ASR Agreement, the Company paid JP Morgan $500,000 on November 12, 2025, and on that date received initial delivery of 2,334,010 shares, representing a substantial majority of the shares expected to be retired over the course of the ASR Program. The ASR Program completed in April 2026. The impact of the shares that were received at the completion of the ASR Program is anti-dilutive and therefore excluded from the calculation of diluted earnings per share. See Note 20 — Subsequent Events for additional details. In the three months ended March 31, 2026, exclusive of the ASR Agreement, the Company repurchased 250,000 shares at a total cost of $53,937, or $215.75 per share. In the three months ended March 31, 2025, the Company repurchased 200,000 shares at a total cost of $40,700, or $203.50 per share. As of March 31, 2026, 14,346,708 shares remain authorized for repurchase under the August 2023 share repurchase authorization.

Recent Accounting Pronouncements (Policies)	3 Months Ended
Recent Accounting Pronouncements (Policies)	Mar. 31, 2026
Accounting Changes and Error Corrections [Abstract]
Recently Issued and Adopted Accounting Standards	Recently Issued Accounting Standards In November 2024, the FASB issued ASU No. 2024-03, Income Statement—Reporting 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 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 entity’s 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 beginning after December 15, 2024. The Company adopted the guidance during the fourth quarter of 2025. In July 2025, the FASB issued ASU No. 2025-05, Financial Instruments—Credit 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 adopted the guidance as of January 1, 2026. The adoption did not have a material impact on the Company's condensed consolidated financial statements. See Note 7 — Credit Losses for further details. In September 2025, the FASB issued ASU No. 2025-06, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software, which changes the requirements for when entities may begin capitalizing costs for internal-use software. The amendments are effective for fiscal years beginning after December 15, 2027, and interim reporting periods within those annual reporting periods. Early adoption is permitted as of the beginning of an annual reporting period. The Company adopted the guidance on January 1, 2026. The adoption did not have a material impact on the Company's condensed consolidated financial statements.

Earnings per Share (Tables)

3 Months Ended

Mar. 31, 2026

Earnings Per Share [Abstract]

Schedule of Reconciliation of Information Used in Computing Basic and Diluted Earnings Per Share

The following table sets forth a reconciliation of the information used in computing basic and diluted earnings per share:


	Three Months Ended March 31,
	2026		2025
Earnings from continuing operations	$	238,749	$	239,241
Loss from discontinued operations, net	(316)		(8,420)
Net earnings	$	238,433	$	230,821
Basic earnings per common share:
Earnings from continuing operations	$	1.77	$	1.74
Loss from discontinued operations, net	$	—	$	(0.06)
Net earnings	$	1.77	$	1.68

Weighted average shares outstanding	134,977,000		137,267,000
Diluted earnings per common share:
Earnings from continuing operations	$	1.76	$	1.73
Loss from discontinued operations, net	$	—	$	(0.06)
Net earnings	$	1.75	$	1.67

Weighted average shares outstanding	135,895,000		138,260,000

Schedule of Reconciliation of Share Amounts Used in Computing Earnings Per Share

The following table is a reconciliation of the share amounts used in computing earnings per share:


	Three Months Ended March 31,
	2026	2025
Weighted average shares outstanding - basic	134,977,000	137,267,000
Dilutive effect of assumed exercise of SARs and vesting of performance shares and RSUs	918,000	993,000
Weighted average shares outstanding - diluted	135,895,000	138,260,000

Goodwill and Other Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2026

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Changes in the Carrying Value of Goodwill

The changes in the carrying value of goodwill by reportable segments 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	—		—		—		415		—		415

Foreign currency translation	(2,635)		(7,923)		(7,919)		(10,117)		(464)		(29,058)
Balance at March 31, 2026	$	428,172	$	1,751,116	$	1,111,689	$	1,597,558	$	512,860	$	5,401,395

Schedule of Definite-lived Intangible Assets

The Company’s definite-lived and indefinite-lived intangible assets by major asset class were as follows:


	March 31, 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	$	2,648,589	$	1,401,323	$	1,247,266	$	2,663,551	$	1,369,528	$	1,294,023
Trademarks	309,675		183,987		125,688		311,501		180,564		130,937
Patents	196,774		150,014		46,760		197,671		148,694		48,977
Unpatented technologies	366,510		208,929		157,581		369,832		203,960		165,872
Distributor relationships	84,850		76,314		8,536		85,840		75,919		9,921

Other	37,719		17,910		19,809		28,301		15,147		13,154
Total	3,644,117		2,038,477		1,605,640		3,656,696		1,993,812		1,662,884
Unamortized intangible assets:
Trademarks	96,688		—		96,688		96,732		—		96,732
Total intangible assets, net	$	3,740,805	$	2,038,477	$	1,702,328	$	3,753,428	$	1,993,812	$	1,759,616

Schedule of Indefinite-lived Intangible Assets

The Company’s definite-lived and indefinite-lived intangible assets by major asset class were as follows:


	March 31, 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	$	2,648,589	$	1,401,323	$	1,247,266	$	2,663,551	$	1,369,528	$	1,294,023
Trademarks	309,675		183,987		125,688		311,501		180,564		130,937
Patents	196,774		150,014		46,760		197,671		148,694		48,977
Unpatented technologies	366,510		208,929		157,581		369,832		203,960		165,872
Distributor relationships	84,850		76,314		8,536		85,840		75,919		9,921

Other	37,719		17,910		19,809		28,301		15,147		13,154
Total	3,644,117		2,038,477		1,605,640		3,656,696		1,993,812		1,662,884
Unamortized intangible assets:
Trademarks	96,688		—		96,688		96,732		—		96,732
Total intangible assets, net	$	3,740,805	$	2,038,477	$	1,702,328	$	3,753,428	$	1,993,812	$	1,759,616

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
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-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

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-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-2

+ Details

Commitments and Contingent Liabilities (Tables)

3 Months Ended

Mar. 31, 2026

Commitments and Contingencies Disclosure [Abstract]

Schedule of Changes in the Carrying Amount of Product Warranties

The changes in the carrying amount of product warranties through March 31, 2026 and 2025, were as follows:


	2026		2025
Balance at January 1	$	45,858	$	42,055
Provision for warranties	14,241		12,267
Settlements made	(13,145)		(12,961)
Other adjustments, including acquisitions and currency translation	(584)		740
Balance at March 31	$	46,370	$	42,101

Borrowings (Tables)

3 Months Ended

Mar. 31, 2026

Debt Disclosure [Abstract]

Schedule of Long-term Debt

Borrowings consist of the following:


			Carrying amount (1)
	Principal		March 31, 2026		December 31, 2025
Long-term

1.25% 10-year notes due November 9, 2026 (euro-denominated)	€	600,000	692,848		706,677
0.750% 8-year notes due November 4, 2027 (euro-denominated)	€	500,000	576,532		588,082
6.65% 30-year debentures due June 1, 2028	$	200,000	199,782		199,757
2.950% 10-year notes due November 4, 2029	$	300,000	298,639		298,544
3.50% 8-year notes due November 12, 2033 (euro-denominated)	€	550,000	630,167		642,927
5.375% 30-year debentures due October 15, 2035	$	300,000	297,619		297,557
6.60% 30-year notes due March 15, 2038	$	250,000	248,647		248,618
5.375% 30-year notes due March 1, 2041	$	350,000	345,879		345,810

Total long-term debt			3,290,113		3,327,972
Less long-term debt current portion			(692,848)		(706,677)
Net long-term debt			$	2,597,265	$	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 $8.0 million and $8.6 million as of March 31, 2026 and December 31, 2025, respectively. Total deferred debt issuance costs on total long-term debt were $9.2 million and $9.7 million as of March 31, 2026 and December 31, 2025, respectively.

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22))
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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-7

+ Details

Restructuring Activities (Tables)

3 Months Ended

Mar. 31, 2026

Restructuring and Related Activities [Abstract]

Schedule of Restructuring Charges by Segment

The Company's restructuring charges by segment were as follows:


	Three Months Ended March 31,
	2026		2025
Engineered Products	$	1,724	$	2,468
Clean Energy & Fueling	7,542		1,768
Imaging & Identification	1,036		169
Pumps & Process Solutions	10,971		1,945
Climate & Sustainability Technologies	8,526		1,666
Corporate	412		294
Total	$	30,211	$	8,310

These amounts are classified in the condensed consolidated statements of earnings as follows:
Cost of goods and services	$	16,889	$	4,320
Selling, general and administrative expenses	13,322		3,990
Total	$	30,211	$	8,310

Schedule of Severance and Exit Accrual Activities

The Company’s severance and exit accrual activities were as follows:


	Severance		Exit			Total
Balance at January 1, 2026	$	15,155	$	3,439		$	18,594
Restructuring charges	20,600		9,611		(1)	30,211
Payments	(8,192)		(5,300)			(13,492)


Other, including foreign currency translation	(243)		(4,454)		(1)	(4,697)
Balance at March 31, 2026	$	27,320	$	3,296		$	30,616

(1) Exit reserves activity includes non-cash asset charges within the Climate & Sustainability Technologies and Clean Energy & Fueling segments.

Revenue

3 Months Ended

Mar. 31, 2026

Revenue from Contract with Customer [Abstract]

Revenue

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 these categories best depict the nature and amount of the Company’s revenue. See Note 16 — Segment Information for further details.

Performance Obligations

Approximately 95% of the Company’s 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 Company’s 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 services. For contracts with multiple performance obligations, the Company allocates the total transaction price to each performance obligation in an amount based on the estimated relative standalone selling prices of the promised goods or services underlying each performance obligation.

At March 31, 2026, we estimated that $325,426 in revenue is expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) at the end of the reporting period. We expect to recognize approximately 73.5% of the Company's unsatisfied (or partially unsatisfied) performance obligations as revenue through 2027, 14.7% in 2028, with the remaining balance to be recognized in 2029 and thereafter.

As permitted by Accounting Standards Codification ("ASC") 606, the Company has excluded from its disclosures above about unsatisfied performance obligations for any contracts with an expected duration of one year or less, and contracts for which the Company recognizes revenue at the amount to which the Company has the right to invoice for services performed.

Contract Balances

Contract assets primarily relate to the Company's right to consideration for work completed but not billed at the reporting date. Contract liabilities relate to advance consideration received from customers or advance billings for which revenue has not been recognized and are reduced when the associated revenue from the contract is recognized.

The following table provides information about contract assets and contract liabilities from contracts with customers:


	March 31, 2026		December 31, 2025		December 31, 2024

Contract assets - current	$	38,780	$	36,018	$	22,413
Contract liabilities - current	163,428		155,025		198,629
Contract liabilities - non-current	6,087		4,427		4,452

The revenue recognized during the three months ended March 31, 2026 and 2025 that was included in contract liabilities at the beginning of the period amounted to $80,543 and $74,189, respectively.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Section 50
-Paragraph 7
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+ Details

Inventories, net (Tables)

3 Months Ended

Mar. 31, 2026

Inventory Disclosure [Abstract]

Schedule of Components of Inventory


	March 31, 2026		December 31, 2025
Raw materials	$	840,868	$	765,453
Work in progress	258,015		235,523
Finished goods	422,539		422,229
Subtotal	1,521,422		1,423,205
Less reserves	(150,586)		(150,421)
Total	$	1,370,836	$	1,272,784

Accumulated Other Comprehensive Earnings (Loss) (Tables)

3 Months Ended

Mar. 31, 2026

Equity [Abstract]

Schedule of Amounts Reclassified From Accumulated Other Comprehensive Earnings (Loss)

Amounts reclassified from accumulated other comprehensive earnings (loss) to earnings during the three months ended March 31, 2026 and 2025 were as follows:


	Three Months Ended March 31,
	2026		2025




Pension plans:
Amortization of actuarial gain	$	(506)	$	(408)
Amortization of prior service credits	(64)		(195)

Total before tax	(570)		(603)
Tax provision	122		132
Net of tax	$	(448)	$	(471)
Cash flow hedges:
Net gain reclassified into earnings	$	(263)	$	(479)
Tax provision	61		78
Net of tax	$	(202)	$	(401)

Acquisitions - Narrative (Details) $ in Thousands		3 Months Ended
Acquisitions - Narrative (Details) $ in Thousands	Jan. 17, 2025 USD ($)	Mar. 31, 2026 USD ($) acquisition	Mar. 31, 2025 business	Dec. 31, 2025 USD ($)
Business Combination [Line Items]
Goodwill		$ 5,401,395		$ 5,430,038
Series of individually immaterial acquistions
Business Combination [Line Items]
Number of business acquisitions \| acquisition		1
Cryogenic Machinery Corp
Business Combination [Line Items]
Number of business acquisitions \| business			1
Equity interest acquired	100.00%
Consideration transferred	$ 28,909
Goodwill	9,250
Cryogenic Machinery Corp \| Customer intangibles
Business Combination [Line Items]
Intangible assets	$ 21,020

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
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- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

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+ Details

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2026
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Income Taxes (Details)	3 Months Ended
Income Taxes (Details)	Mar. 31, 2026	Mar. 31, 2025
Income Tax Disclosure [Abstract]
Effective tax rate	20.10%	19.00%

Commitments and Contingent Liabilities - Changes in the Carrying Amount of Product Warranties (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Beginning Balance	$ 45,858	$ 42,055
Provision for warranties	14,241	12,267
Settlements made	(13,145)	(12,961)
Other adjustments, including acquisitions and currency translation	(584)	740
Ending Balance	$ 46,370	$ 42,101

Segment Information

3 Months Ended

Mar. 31, 2026

Segment Reporting [Abstract]

Segment Information

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 ("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, and remote monitoring 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.

•Imaging & Identification segment supplies precision marking and coding, product traceability, brand protection and digital textile printing equipment, as well as related consumables, software and services to the global packaged and consumer goods, pharmaceutical, industrial manufacturing, textile and other end-markets.

•Pumps & Process Solutions segment manufactures specialty pumps and flow meters, fluid transfer connectors, highly engineered precision components, instruments and digital controls for rotating and reciprocating machines, polymer processing equipment, measurement, inspection, and control technologies, serving single-use biopharmaceutical production, diversified industrial manufacturing applications, chemical production, plastics and polymer processing, midstream and downstream oil and gas, clean energy markets, thermal management, wire and cable, food and beverage, semiconductor production and medical applications and other end-markets.

•Climate & Sustainability Technologies segment is a provider of innovative and energy-efficient equipment, components, solutions, services and parts for the commercial refrigeration, heating and cooling and beverage can-making equipment end-markets.

Management uses segment earnings to evaluate segment performance and allocate resources. Segment earnings is defined as earnings before purchase accounting expenses, restructuring and other costs (benefits), (gain) loss on dispositions, corporate expenses/other, interest expense, interest income and provision for income taxes.

Segment financial information and a reconciliation of segment results to consolidated results were as follows:


	Three Months Ended March 31,
	2026		2025
Revenue:
Engineered Products	$	266,639	$	254,646
Clean Energy & Fueling	554,809		491,148
Imaging & Identification	285,420		280,090
Pumps & Process Solutions	537,810		493,573
Climate & Sustainability Technologies	411,060		347,888
Total segment revenues	2,055,738		1,867,345
Intersegment eliminations	(2,115)		(1,286)
Total consolidated revenue	$	2,053,623	$	1,866,059
Adjusted cost of goods and services:(1)
Engineered Products	$	182,548	$	173,080
Clean Energy & Fueling	359,439		315,194
Imaging & Identification	130,709		123,625
Pumps & Process Solutions	264,099		252,164
Climate & Sustainability Technologies	288,899		244,700
Total adjusted segment cost of goods and services	$	1,225,694	$	1,108,763
Adjusted selling, general and administrative expenses:(2)
Engineered Products	$	39,100	$	37,452
Clean Energy & Fueling	96,329		90,310
Imaging & Identification	77,254		78,890
Pumps & Process Solutions	104,219		90,134
Climate & Sustainability Technologies	58,166		51,069
Total adjusted segment selling, general and administrative expenses	$	375,068	$	347,855
Earnings from continuing operations:
Segment earnings:
Engineered Products	$	44,991	$	44,114
Clean Energy & Fueling	99,041		85,644
Imaging & Identification	77,457		77,575
Pumps & Process Solutions	169,492		151,275
Climate & Sustainability Technologies	63,995		52,119
Total segment earnings	454,976		410,727
Purchase accounting expenses (3)	54,579		49,104
Restructuring and other costs (4)	36,795		9,397
Gain on dispositions (5)	—		(2,468)
Corporate expense / other (6)	49,238		51,959
Interest expense	29,522		27,608
Interest income	(14,060)		(20,254)
Earnings before provision for income taxes	298,902		295,381
Provision for income taxes	60,153		56,140
Earnings from continuing operations	$	238,749	$	239,241

(1) Adjusted cost of goods and services exclude expenses related to purchase accounting and restructuring and other costs.

(2) Adjusted selling, general and administrative expenses exclude expenses related to purchase accounting, restructuring and other costs, and gain on dispositions and include other income, net.

(3) Purchase accounting expenses are primarily comprised of amortization of intangible assets.

(4) Restructuring and other costs relate to actions taken for headcount reductions, facility consolidations and site closures, product line exits, and other asset charges. Restructuring and other costs consist of the following:


	Three Months Ended March 31,
	2026		2025
Restructuring	$	30,211	$	8,310
Other costs, net	6,584		1,087
Restructuring and other costs	$	36,795	$	9,397

(5) Gain on dispositions, including post-closing adjustments.

(6) Certain expenses are maintained at the corporate level and not allocated to the segments. These expenses include executive and functional compensation costs, non-service pension costs, non-operating insurance expenses, shared business services and digital and IT overhead costs, deal related expenses and various administrative expenses relating to the corporate headquarters.


	Three Months Ended March 31,
	2026			2025
Segment earnings margins:
Engineered Products	16.9		%	17.3		%
Clean Energy & Fueling	17.9		%	17.4		%
Imaging & Identification	27.1		%	27.7		%
Pumps & Process Solutions	31.5		%	30.6		%
Climate & Sustainability Technologies	15.6		%	15.0		%
Total segments	22.2		%	22.0		%

Depreciation and amortization:
Other depreciation and amortization:(7)
Engineered Products	$	5,486		$	4,800
Clean Energy & Fueling	8,552			8,578
Imaging & Identification	4,208			4,093
Pumps & Process Solutions	14,012			12,601
Climate & Sustainability Technologies	8,069			7,325
Total other depreciation and amortization	40,327			37,397
Corporate depreciation and amortization	1,928			1,840
Depreciation and amortization included in purchase accounting expenses and restructuring and other	55,166			48,181
Consolidated depreciation and amortization total	$	97,421		$	87,418

(7) Other depreciation and amortization relates to property, plant, and equipment and intangibles, and excludes amounts related to purchase accounting expenses and restructuring and other costs.


	Three Months Ended March 31,
Capital expenditures:	2026		2025
Engineered Products	$	5,615	$	5,822
Clean Energy & Fueling	12,123		11,093
Imaging & Identification	9,479		9,656
Pumps & Process Solutions	13,879		12,467
Climate & Sustainability Technologies	17,878		8,598
Corporate	834		556
Total capital expenditures	$	59,808	$	48,192

Selected financial information by segment (continued):


Total assets:	March 31, 2026		December 31, 2025
Engineered Products	$	1,102,991	$	1,091,594
Clean Energy & Fueling	3,619,224		3,607,567
Imaging & Identification	1,840,238		1,827,454
Pumps & Process Solutions	3,443,584		3,479,147
Climate & Sustainability Technologies	1,525,201		1,426,174
Corporate (8)	1,975,442		1,990,487


Total assets	$	13,506,680	$	13,422,423

(8) Corporate assets are comprised primarily of cash and cash equivalents.

The following table presents revenue disaggregated by geography based on the location of the Company's customers:


	Three Months Ended March 31,
Revenue by geography:	2026		2025
United States	$	1,142,717	$	1,023,117
Europe	447,773		397,291
Asia	216,073		208,732
Other Americas	169,581		159,896
Other	77,479		77,023
Total	$	2,053,623	$	1,866,059

For the three months ended March 31, 2026 and 2025, the U.S. was the largest geographical market for revenue for the Engineered Products, Clean Energy & Fueling, Pumps & Process Solutions, and Climate & Sustainability Technologies segments, and Europe was the largest market for the Imaging & Identification segment.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Equity Incentive Program (Tables)

3 Months Ended

Mar. 31, 2026

Share-Based Payment Arrangement [Abstract]

Schedule of Assumptions Used in Determining the Fair Value

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)	5.5		5.5
Volatility	23.47	%	30.50	%

Grant price	$231.63		$202.33
Fair value per share at date of grant	$61.59		$66.39

The assumptions used in the Monte Carlo model to determine the fair value of the PSAs granted in the respective periods were as follows:


	PSAs
	2026		2025
Risk-free interest rate	3.39	%	4.21	%
Dividend yield	0.90	%	1.02	%
Expected life (years)	2.9		2.9
Volatility	25.10	%	23.10	%

Grant price	$231.63		$202.33
Fair value per share at date of grant	$403.67		$318.38

Schedule of Stock-based Incentive Plans Compensation Expense

The following table summarizes the Company’s compensation expense relating to all stock-based incentive plans:


	Three Months Ended March 31,
	2026		2025
Pre-tax stock-based compensation expense	$	20,960	$	23,874
Tax benefit	(2,195)		(2,504)
Total stock-based compensation expense, net of tax	$	18,765	$	21,370

Equity Incentive Program - Assumptions Used in Determining the Fair Value of the SARs (Details) - $ / shares	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Stock Appreciation Rights (SARs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	3.66%	4.35%
Dividend yield	0.90%	1.02%
Expected life (years)	5 years 6 months	5 years 6 months
Volatility	23.47%	30.50%
Grant price (in dollars per share)	$ 231.63	$ 202.33
Fair value per share at date of grant (in dollars per share)	$ 61.59	$ 66.39
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	3.39%	4.21%
Dividend yield	0.90%	1.02%
Expected life (years)	2 years 10 months 24 days	2 years 10 months 24 days
Volatility	25.10%	23.10%
Grant price (in dollars per share)	$ 231.63	$ 202.33
Fair value per share at date of grant (in dollars per share)	$ 403.67	$ 318.38

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended
Credit Losses (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Mar. 31, 2025
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	$ 35,418	$ 28,794
Provision for expected credit losses, net of recoveries	2,452	1,773
Amounts written off charged against the allowance	(754)	(892)
Other, including foreign currency translation	323	5,031
Ending Balance	$ 37,439	$ 34,706

Restructuring Activities

3 Months Ended

Mar. 31, 2026

Restructuring and Related Activities [Abstract]

Restructuring Activities

9. Restructuring Activities

The Company's restructuring charges by segment were as follows:


	Three Months Ended March 31,
	2026		2025
Engineered Products	$	1,724	$	2,468
Clean Energy & Fueling	7,542		1,768
Imaging & Identification	1,036		169
Pumps & Process Solutions	10,971		1,945
Climate & Sustainability Technologies	8,526		1,666
Corporate	412		294
Total	$	30,211	$	8,310

These amounts are classified in the condensed consolidated statements of earnings as follows:
Cost of goods and services	$	16,889	$	4,320
Selling, general and administrative expenses	13,322		3,990
Total	$	30,211	$	8,310

The restructuring expenses of $30,211 incurred during the three months ended March 31, 2026 were primarily related to headcount reductions and exit costs in the Pumps & Process Solutions, Climate & Sustainability Technologies and Clean

Energy & Fueling 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 Company’s severance and exit accrual activities were as follows:


	Severance		Exit			Total
Balance at January 1, 2026	$	15,155	$	3,439		$	18,594
Restructuring charges	20,600		9,611		(1)	30,211
Payments	(8,192)		(5,300)			(13,492)


Other, including foreign currency translation	(243)		(4,454)		(1)	(4,697)
Balance at March 31, 2026	$	27,320	$	3,296		$	30,616

(1) Exit reserves activity includes non-cash asset charges within the Climate & Sustainability Technologies and Clean Energy & Fueling segments.

Revenue - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
Revenue - Narrative (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Mar. 31, 2025
Disaggregation of Revenue [Line Items]
Future performance obligation	$ 325,426
Revenue recognized that was included in the contract liability balance at the beginning of the period	$ 80,543	$ 74,189
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-04-01
Disaggregation of Revenue [Line Items]
Remaining performance obligation (in percent)	73.50%
Revenue recognized during the period	21 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01
Disaggregation of Revenue [Line Items]
Remaining performance obligation (in percent)	14.70%
Revenue recognized during the period	1 year
Transferred at Point in Time
Disaggregation of Revenue [Line Items]
Remaining performance obligation (in percent)	95.00%
Transferred over Time
Disaggregation of Revenue [Line Items]
Remaining performance obligation (in percent)	5.00%
Minimum
Disaggregation of Revenue [Line Items]
General range of payment terms	30 days
Maximum
Disaggregation of Revenue [Line Items]
General range of payment terms	90 days

Financial Instruments - Balance Sheet Location (Details) - Designated as Hedging Instrument - Foreign currency forward - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value Asset	$ 1,630	$ 647
Fair Value Liability	$ (177)	$ (654)

- Definition

Fair value, before effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets elected not to be offset. Excludes assets not subject to a master netting arrangement.

+ References + Details

- Definition

Fair value, before effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes liabilities elected not to be offset. Excludes liabilities not subject to a master netting arrangement.

+ References + Details

Restructuring Activities - Restructuring Charges by Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 30,211	$ 8,310
Cost of goods and services
Restructuring Cost and Reserve [Line Items]
Restructuring charges	16,889	4,320
Selling, general and administrative expenses
Restructuring Cost and Reserve [Line Items]
Restructuring charges	13,322	3,990
Operating Segments \| Engineered Products
Restructuring Cost and Reserve [Line Items]
Restructuring charges	1,724	2,468
Operating Segments \| Clean Energy & Fueling
Restructuring Cost and Reserve [Line Items]
Restructuring charges	7,542	1,768
Operating Segments \| Imaging & Identification
Restructuring Cost and Reserve [Line Items]
Restructuring charges	1,036	169
Operating Segments \| Pumps & Process Solutions
Restructuring Cost and Reserve [Line Items]
Restructuring charges	10,971	1,945
Operating Segments \| Climate & Sustainability Technologies
Restructuring Cost and Reserve [Line Items]
Restructuring charges	8,526	1,666
Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 412	$ 294

Borrowings - Narrative (Details)		3 Months Ended
Borrowings - Narrative (Details)	Apr. 02, 2026 USD ($)	Mar. 31, 2026 USD ($)	Dec. 31, 2025 USD ($)
Line of Credit Facility [Line Items]
Interest coverage ratio		40.8
Outstanding letters of credit		$ 230,000,000.0
Revolving Credit Facility \| Credit Agreement
Line of Credit Facility [Line Items]
Maximum borrowing capacity		$ 1,000,000,000.0
Term of debt		5 years
Interest coverage ratio required		3.0
Outstanding borrowings		$ 0	$ 0
Revolving Credit Facility \| Credit Agreement \| Subsequent Event
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 1,000,000,000.0
Term of debt	5 years
Revolving Credit Facility \| Credit Facility Maturing April 2026
Line of Credit Facility [Line Items]
Maximum borrowing capacity		$ 500,000,000.0
Term of debt		364 days
Outstanding borrowings		$ 0	$ 0
Revolving Credit Facility \| Credit Facility Maturing April 2026 \| Subsequent Event
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 500,000,000.0
Term of debt	364 days
Revolving Credit Facility \| Credit Facility Maturing April 2031 \| Subsequent Event
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 1,500,000,000
Term of debt	5 years

Goodwill and Other Intangible Assets - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 53,703	$ 48,749

- Definition

The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets.

+ References

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+ Details

Goodwill and Other Intangible Assets

3 Months Ended

Mar. 31, 2026

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

8. Goodwill and Other Intangible Assets

The changes in the carrying value of goodwill by reportable segments 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	—		—		—		415		—		415

Foreign currency translation	(2,635)		(7,923)		(7,919)		(10,117)		(464)		(29,058)
Balance at March 31, 2026	$	428,172	$	1,751,116	$	1,111,689	$	1,597,558	$	512,860	$	5,401,395

The Company’s definite-lived and indefinite-lived intangible assets by major asset class were as follows:


	March 31, 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	$	2,648,589	$	1,401,323	$	1,247,266	$	2,663,551	$	1,369,528	$	1,294,023
Trademarks	309,675		183,987		125,688		311,501		180,564		130,937
Patents	196,774		150,014		46,760		197,671		148,694		48,977
Unpatented technologies	366,510		208,929		157,581		369,832		203,960		165,872
Distributor relationships	84,850		76,314		8,536		85,840		75,919		9,921

Other	37,719		17,910		19,809		28,301		15,147		13,154
Total	3,644,117		2,038,477		1,605,640		3,656,696		1,993,812		1,662,884
Unamortized intangible assets:
Trademarks	96,688		—		96,688		96,732		—		96,732
Total intangible assets, net	$	3,740,805	$	2,038,477	$	1,702,328	$	3,753,428	$	1,993,812	$	1,759,616

For the three months ended March 31, 2026 and 2025, amortization expense was $53,703 and $48,749, respectively. Amortization expense is primarily comprised of acquisition-related intangible amortization.

Cover Page - shares	3 Months Ended
Cover Page - shares	Mar. 31, 2026	Apr. 17, 2026
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2026
Document Transition Report	false
Entity File Number	1-4018
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	53-0257888
Entity Address, Address Line One	3005 Highland Parkway
Entity Address, City or Town	Downers Grove,
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60515
City Area Code	(630)
Local Phone Number	541-1540
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		134,661,414
Entity Registrant Name	DOVER Corp
Entity Central Index Key	0000029905
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2026
Document Fiscal Period Focus	Q1
Amendment Flag	false
Common stock $1 par value
Document Information [Line Items]
Title of 12(b) Security	Common Stock
Trading Symbol	DOV
Security Exchange Name	NYSE
1.250% Notes due 2026
Document Information [Line Items]
Title of 12(b) Security	1.250% Notes due 2026
Trading Symbol	DOV 26
Security Exchange Name	NYSE
0.750% Notes due 2027
Document Information [Line Items]
Title of 12(b) Security	0.750% Notes due 2027
Trading Symbol	DOV 27
Security Exchange Name	NYSE
3.500% Notes due 2033
Document Information [Line Items]
Title of 12(b) Security	3.500% Notes due 2033
Trading Symbol	DOV 33
Security Exchange Name	NYSE

Property, Plant and Equipment, net (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025	Dec. 31, 2025
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 2,964,087		$ 2,944,555
Accumulated depreciation	(1,849,707)		(1,824,932)
Property, plant and equipment, net	1,114,380		1,119,623
Depreciation expense	43,718	$ 38,669
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	67,929		68,650
Buildings and improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	715,340		705,756
Machinery, equipment and other
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 2,180,818		$ 2,170,149

Financial Instruments

3 Months Ended

Mar. 31, 2026

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Financial Instruments

11. Financial Instruments

Cash Flow Hedges

The Company is exposed to market risk for changes in foreign currency exchange rates due to the global nature of its operations and certain commodity risks. In order to manage these risks, the Company has hedged portions of its forecasted sales and purchases which occur within the next twelve months that are denominated in non-functional currencies, with currency forward contracts designated as cash flow hedges. At March 31, 2026 and December 31, 2025, the Company had contracts with total notional amounts of $131,207 and $153,765, respectively, to exchange currencies, principally euro, pound sterling, Swedish krona, Canadian dollar, Chinese yuan, and Swiss franc. The Company believes it is probable that all forecasted cash flow transactions will occur.

In addition, the Company had outstanding contracts with a total notional amount of $88,363 and $74,403 as of March 31, 2026 and December 31, 2025, respectively, that are not designated as hedging instruments. These instruments are used to reduce the Company's exposure for operating receivables and payables that are denominated in non-functional currencies. Gains and losses on these contracts are recorded in other income, net in the condensed consolidated statements of earnings.

The following table sets forth the fair values of derivative instruments designated as cash flow hedges held by the Company as of March 31, 2026 and December 31, 2025 and the balance sheet lines in which they are recorded:


	Fair Value Asset (Liability)
	March 31, 2026		December 31, 2025		Balance Sheet Caption
Foreign currency forward	$	1,630	$	647	Prepaid and other current assets
Foreign currency forward	(177)		(654)		Other accrued expenses

For a cash flow hedge, the change in estimated fair value of a hedging instrument is recorded in accumulated other comprehensive earnings (loss), net of tax as a separate component of the condensed consolidated statements of stockholders' equity and is reclassified into revenues or cost of goods and services in the condensed consolidated statements of earnings during the period in which the hedged transaction is settled. The amount of gains or losses from hedging activity recorded in earnings is not significant, and the amount of unrealized gains and losses from cash flow hedges that are expected to be reclassified to earnings in the next twelve months is not significant; therefore, additional tabular disclosures are not presented. There are no amounts excluded from the assessment of hedge effectiveness, and the Company's derivative instruments that are subject to credit risk contingent features were not significant.

The Company is exposed to credit loss in the event of nonperformance by counterparties to the financial instrument contracts held by the Company; however, nonperformance by these counterparties is considered unlikely as the Company’s policy is to contract with highly-rated, diversified counterparties.

Net Investment Hedges

The Company designates certain non-derivative instruments as net investment hedges to hedge the net assets of certain foreign subsidiaries which are exposed to volatility in foreign currency exchange rates. The Company has designated the €600,000, €500,000, and €550,000 of euro-denominated notes issued November 9, 2016, November 4, 2019, and November 12, 2025, respectively, as hedges of its net investment in euro-denominated operations.

Changes in the value of the euro-denominated debt, which are calculated using the spot method, are recognized in foreign currency translation adjustments within other comprehensive earnings (loss) of the condensed consolidated statements of comprehensive earnings. These changes in fair value of the euro-denominated debt resulting from exchange rate differences are

offset by changes in the net investment due to the high degree of effectiveness between the hedging instruments and the exposure being hedged.

Amounts recognized in other comprehensive earnings (loss) for the gains (losses) on net investment hedges were as follows:


	Three Months Ended March 31,
	2026		2025
Gain (loss) on euro-denominated debt	$	38,865	$	(42,413)


Tax (expense) benefit	(8,760)		9,588
Net gain (loss) on net investment hedges, net of tax	$	30,105	$	(32,825)

Fair Value Measurements

ASC 820, Fair Value Measurements and Disclosures, establishes a fair value hierarchy that requires the Company to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the hierarchy is based on the lowest level of input that is significant to the fair value measurement. ASC 820 establishes three levels of inputs that may be used to measure fair value as follows:

Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level 2 inputs include inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices in active markets for similar assets and liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of assets or liabilities.

Level 3 inputs are unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.

The following table presents the Company’s assets and liabilities measured at fair value on a recurring basis as of March 31, 2026 and December 31, 2025:


	March 31, 2026		December 31, 2025
	Level 2			Level 2
Assets:
Foreign currency cash flow hedges	$	1,630		$	647

Liabilities:
Foreign currency cash flow hedges	177			654

The derivative contracts are measured at fair value using models based on observable market inputs such as foreign currency exchange rates and interest rates; therefore, they are classified within Level 2 of the fair value hierarchy.

In addition to fair value disclosure requirements related to financial instruments carried at fair value, accounting standards require disclosures regarding the fair value of all of the Company's financial instruments.

The estimated fair value of long-term debt at March 31, 2026 and December 31, 2025, was $2,600,274 and $2,652,750, respectively. The estimated fair value of long-term debt is based on quoted market prices for similar instruments and is, therefore, classified as Level 2 within the fair value hierarchy.

The carrying values of cash and cash equivalents, trade receivables, accounts payable, and current portion of long-term debt approximate their fair values as of March 31, 2026 and December 31, 2025 due to the short-term nature of these instruments.

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

+ References

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+ Details

Goodwill and Other Intangible Assets - Changes in the Carrying Value of Goodwill (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2026 USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 5,430,038
Measurement period adjustments	415
Foreign currency translation	(29,058)
Ending balance	5,401,395
Engineered Products
Goodwill [Roll Forward]
Beginning balance	430,807
Measurement period adjustments	0
Foreign currency translation	(2,635)
Ending balance	428,172
Clean Energy & Fueling
Goodwill [Roll Forward]
Beginning balance	1,759,039
Measurement period adjustments	0
Foreign currency translation	(7,923)
Ending balance	1,751,116
Imaging & Identification
Goodwill [Roll Forward]
Beginning balance	1,119,608
Measurement period adjustments	0
Foreign currency translation	(7,919)
Ending balance	1,111,689
Pumps & Process Solutions
Goodwill [Roll Forward]
Beginning balance	1,607,260
Measurement period adjustments	415
Foreign currency translation	(10,117)
Ending balance	1,597,558
Climate & Sustainability Technologies
Goodwill [Roll Forward]
Beginning balance	513,324
Measurement period adjustments	0
Foreign currency translation	(464)
Ending balance	$ 512,860

- Definition

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

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Reference 7: http://www.xbrl.org/2003/role/exampleRef
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+ Details

Accumulated Other Comprehensive Earnings (Loss)

3 Months Ended

Mar. 31, 2026

Equity [Abstract]

Accumulated Other Comprehensive Earnings (Loss)

15. Accumulated Other Comprehensive Earnings (Loss)

Amounts reclassified from accumulated other comprehensive earnings (loss) to earnings during the three months ended March 31, 2026 and 2025 were as follows:


	Three Months Ended March 31,
	2026		2025




Pension plans:
Amortization of actuarial gain	$	(506)	$	(408)
Amortization of prior service credits	(64)		(195)

Total before tax	(570)		(603)
Tax provision	122		132
Net of tax	$	(448)	$	(471)
Cash flow hedges:
Net gain reclassified into earnings	$	(263)	$	(479)
Tax provision	61		78
Net of tax	$	(202)	$	(401)

The Company recognizes the amortization of net actuarial gains and losses and prior service costs and credits in other income, net within the condensed consolidated statements of earnings.

Cash flow hedges consist mainly of foreign currency forward contracts. The Company recognizes the realized gains and losses on its cash flow hedges in the same line item as the hedged transaction, such as revenue or cost of goods and services.

Segment Information (Tables)

3 Months Ended

Mar. 31, 2026

Segment Reporting [Abstract]

Schedule of Segment Financial Information and a Reconciliation of Segment

Segment financial information and a reconciliation of segment results to consolidated results were as follows:


	Three Months Ended March 31,
	2026		2025
Revenue:
Engineered Products	$	266,639	$	254,646
Clean Energy & Fueling	554,809		491,148
Imaging & Identification	285,420		280,090
Pumps & Process Solutions	537,810		493,573
Climate & Sustainability Technologies	411,060		347,888
Total segment revenues	2,055,738		1,867,345
Intersegment eliminations	(2,115)		(1,286)
Total consolidated revenue	$	2,053,623	$	1,866,059
Adjusted cost of goods and services:(1)
Engineered Products	$	182,548	$	173,080
Clean Energy & Fueling	359,439		315,194
Imaging & Identification	130,709		123,625
Pumps & Process Solutions	264,099		252,164
Climate & Sustainability Technologies	288,899		244,700
Total adjusted segment cost of goods and services	$	1,225,694	$	1,108,763
Adjusted selling, general and administrative expenses:(2)
Engineered Products	$	39,100	$	37,452
Clean Energy & Fueling	96,329		90,310
Imaging & Identification	77,254		78,890
Pumps & Process Solutions	104,219		90,134
Climate & Sustainability Technologies	58,166		51,069
Total adjusted segment selling, general and administrative expenses	$	375,068	$	347,855
Earnings from continuing operations:
Segment earnings:
Engineered Products	$	44,991	$	44,114
Clean Energy & Fueling	99,041		85,644
Imaging & Identification	77,457		77,575
Pumps & Process Solutions	169,492		151,275
Climate & Sustainability Technologies	63,995		52,119
Total segment earnings	454,976		410,727
Purchase accounting expenses (3)	54,579		49,104
Restructuring and other costs (4)	36,795		9,397
Gain on dispositions (5)	—		(2,468)
Corporate expense / other (6)	49,238		51,959
Interest expense	29,522		27,608
Interest income	(14,060)		(20,254)
Earnings before provision for income taxes	298,902		295,381
Provision for income taxes	60,153		56,140
Earnings from continuing operations	$	238,749	$	239,241

(1) Adjusted cost of goods and services exclude expenses related to purchase accounting and restructuring and other costs.

(2) Adjusted selling, general and administrative expenses exclude expenses related to purchase accounting, restructuring and other costs, and gain on dispositions and include other income, net.

(3) Purchase accounting expenses are primarily comprised of amortization of intangible assets.


	Three Months Ended March 31,
	2026		2025
Restructuring	$	30,211	$	8,310
Other costs, net	6,584		1,087
Restructuring and other costs	$	36,795	$	9,397

(5) Gain on dispositions, including post-closing adjustments.


	Three Months Ended March 31,
	2026			2025
Segment earnings margins:
Engineered Products	16.9		%	17.3		%
Clean Energy & Fueling	17.9		%	17.4		%
Imaging & Identification	27.1		%	27.7		%
Pumps & Process Solutions	31.5		%	30.6		%
Climate & Sustainability Technologies	15.6		%	15.0		%
Total segments	22.2		%	22.0		%

Depreciation and amortization:
Other depreciation and amortization:(7)
Engineered Products	$	5,486		$	4,800
Clean Energy & Fueling	8,552			8,578
Imaging & Identification	4,208			4,093
Pumps & Process Solutions	14,012			12,601
Climate & Sustainability Technologies	8,069			7,325
Total other depreciation and amortization	40,327			37,397
Corporate depreciation and amortization	1,928			1,840
Depreciation and amortization included in purchase accounting expenses and restructuring and other	55,166			48,181
Consolidated depreciation and amortization total	$	97,421		$	87,418

(7) Other depreciation and amortization relates to property, plant, and equipment and intangibles, and excludes amounts related to purchase accounting expenses and restructuring and other costs.


	Three Months Ended March 31,
Capital expenditures:	2026		2025
Engineered Products	$	5,615	$	5,822
Clean Energy & Fueling	12,123		11,093
Imaging & Identification	9,479		9,656
Pumps & Process Solutions	13,879		12,467
Climate & Sustainability Technologies	17,878		8,598
Corporate	834		556
Total capital expenditures	$	59,808	$	48,192

Selected financial information by segment (continued):


Total assets:	March 31, 2026		December 31, 2025
Engineered Products	$	1,102,991	$	1,091,594
Clean Energy & Fueling	3,619,224		3,607,567
Imaging & Identification	1,840,238		1,827,454
Pumps & Process Solutions	3,443,584		3,479,147
Climate & Sustainability Technologies	1,525,201		1,426,174
Corporate (8)	1,975,442		1,990,487


Total assets	$	13,506,680	$	13,422,423

(8) Corporate assets are comprised primarily of cash and cash equivalents.

Schedule of Revenue Disaggregated by Geography based on the Location

The following table presents revenue disaggregated by geography based on the location of the Company's customers:


	Three Months Ended March 31,
Revenue by geography:	2026		2025
United States	$	1,142,717	$	1,023,117
Europe	447,773		397,291
Asia	216,073		208,732
Other Americas	169,581		159,896
Other	77,479		77,023
Total	$	2,053,623	$	1,866,059

Revenue - Contract Balances (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Contract assets - current	$ 38,780	$ 36,018	$ 22,413
Contract liabilities - current	163,428	155,025	198,629
Contract liabilities - non-current	$ 6,087	$ 4,427	$ 4,452

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2026
Income Tax Disclosure [Abstract]
Income Taxes	12. Income Taxes The effective tax rates for the three months ended March 31, 2026 and 2025 were 20.1% and 19.0%, respectively. The increase in the effective tax rate for the three months ended March 31, 2026 relative to the prior year comparable period was primarily due to a prior year reorganization. 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.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 740
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477617/942-740-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 740
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478822/944-740-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
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+ Details

Revenue (Tables)

3 Months Ended

Mar. 31, 2026

Revenue from Contract with Customer [Abstract]

Schedule of Contract Assets and Contracts Liabilities

The following table provides information about contract assets and contract liabilities from contracts with customers:


	March 31, 2026		December 31, 2025		December 31, 2024

Contract assets - current	$	38,780	$	36,018	$	22,413
Contract liabilities - current	163,428		155,025		198,629
Contract liabilities - non-current	6,087		4,427		4,452

Discontinued and Disposed Operations	3 Months Ended
Discontinued and Disposed Operations	Mar. 31, 2026
Discontinued Operations and Disposal Groups [Abstract]
Discontinued and Disposed Operations	4. Discontinued and Disposed Operations Discontinued Operations On October 8, 2024, the Company completed the sale of the ESG business, an operating company within the Engineered Products segment, to Terex Corporation for total consideration, net of cash transferred, of $2.0 billion. The ESG sale qualifies for discontinued operations reporting because its disposal represented a strategic shift with a major effect on the Company's operations and financial results. As a result, the Company has classified the results of operations as discontinued operations in the condensed consolidated statements of earnings and the condensed consolidated statements of cash flows for the three months ended March 31, 2026 and 2025. During the three months ended March 31, 2026, other post-closing adjustments of $400 ($316 after-tax) were recorded resulting in a loss from discontinued operations in the condensed consolidated statements of earnings. During the three months ended March 31, 2025, net working capital adjustments of $9,796 ($7,739 after-tax) and other post-closing adjustments of $862 ($681 after-tax) were recorded resulting in a loss from discontinued operations, net of $8,420 in the condensed consolidated statements of earnings. In June 2025, a jury returned a verdict against the ESG business for approximately $58.9 million in connection with litigation involving alleged breach of contract and inducement of breach of fiduciary duty claims arising from certain product development efforts. ESG has filed post-trial motions and, if necessary, will file an appeal with the U.S. Court of Appeals for the Seventh Circuit. The Company has not recognized an expense in connection with this matter because it does not currently believe a loss is probable. Dispositions There were no dispositions in 2025 or 2026.

Equity Incentive Program - Stock Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Share-Based Payment Arrangement [Abstract]
Pre-tax stock-based compensation expense	$ 20,960	$ 23,874
Tax benefit	(2,195)	(2,504)
Total stock-based compensation expense, net of tax	$ 18,765	$ 21,370

Goodwill and Other Intangible Assets - Intangibles and Amortization Expense (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 3,644,117	$ 3,656,696
Accumulated Amortization	2,038,477	1,993,812
Net Carrying Amount	1,605,640	1,662,884
Total, Gross Carrying Amount	3,740,805	3,753,428
Total, Net Carrying Amount	1,702,328	1,759,616
Trademarks
Finite-Lived Intangible Assets [Line Items]
Unamortized intangible assets:	96,688	96,732
Customer intangibles
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	2,648,589	2,663,551
Accumulated Amortization	1,401,323	1,369,528
Net Carrying Amount	1,247,266	1,294,023
Trademarks
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	309,675	311,501
Accumulated Amortization	183,987	180,564
Net Carrying Amount	125,688	130,937
Patents
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	196,774	197,671
Accumulated Amortization	150,014	148,694
Net Carrying Amount	46,760	48,977
Unpatented technologies
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	366,510	369,832
Accumulated Amortization	208,929	203,960
Net Carrying Amount	157,581	165,872
Distributor relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	84,850	85,840
Accumulated Amortization	76,314	75,919
Net Carrying Amount	8,536	9,921
Other
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	37,719	28,301
Accumulated Amortization	17,910	15,147
Net Carrying Amount	$ 19,809	$ 13,154

Commitments and Contingent Liabilities - Narrative (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]
Amounts due to the SCF	$ 126,694	$ 117,884

Restructuring Activities - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Restructuring and Related Activities [Abstract]
Restructuring charges	$ 30,211	$ 8,310

- Definition

Amount of expenses associated with exit or disposal activities pursuant to an authorized plan. Excludes expenses related to a discontinued operation or an asset retirement obligation.

+ References + Details

Restructuring Activities - Severance and Exit Accrual Activities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Restructuring Reserve [Roll Forward]
Beginning balance	$ 18,594
Restructuring charges	30,211	$ 8,310
Payments	(13,492)
Other, including foreign currency translation	(4,697)
Ending balance	30,616
Severance
Restructuring Reserve [Roll Forward]
Beginning balance	15,155
Restructuring charges	20,600
Payments	(8,192)
Other, including foreign currency translation	(243)
Ending balance	27,320
Exit
Restructuring Reserve [Roll Forward]
Beginning balance	3,439
Restructuring charges	9,611
Payments	(5,300)
Other, including foreign currency translation	(4,454)
Ending balance	$ 3,296

- Definition

Amount of expenses associated with exit or disposal activities pursuant to an authorized plan. Excludes expenses related to a discontinued operation or an asset retirement obligation.

+ References + Details

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Income Statement [Abstract]
Revenue	$ 2,053,623	$ 1,866,059
Cost of goods and services	1,255,488	1,120,559
Gross profit	798,135	745,500
Selling, general and administrative expenses	492,226	449,191
Operating earnings	305,909	296,309
Interest expense	29,522	27,608
Interest income	(14,060)	(20,254)
Gain on dispositions	0	(2,468)
Other income, net	(8,455)	(3,958)
Earnings before provision for income taxes	298,902	295,381
Provision for income taxes	60,153	56,140
Earnings from continuing operations	238,749	239,241
Loss from discontinued operations, net	(316)	(8,420)
Net earnings	$ 238,433	$ 230,821
Earnings per share from continuing operations:
Basic (in dollars per share)	$ 1.77	$ 1.74
Diluted (in dollars per share)	1.76	1.73
Loss per share from discontinued operations:
Basic (in dollars per share)	0	(0.06)
Diluted (in dollars per share)	0	(0.06)
Net earnings per share:
Basic (in dollars per share)	1.77	1.68
Diluted (in dollars per share)	$ 1.75	$ 1.67
Weighted average shares outstanding:
Basic (in shares)	134,977	137,267
Diluted (in shares)	135,895	138,260

Financial Instruments - Narrative (Details) € in Thousands, $ in Thousands	Mar. 31, 2026 USD ($)	Dec. 31, 2025 USD ($)	Nov. 12, 2025 EUR (€)	Nov. 04, 2019 EUR (€)	Nov. 09, 2016 EUR (€)
Estimate of Fair Value Measurement
Derivatives, Fair Value [Line Items]
Fair value of long-term debt \| $	$ 2,600,274	$ 2,652,750
Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Notional amount \| $	131,207	153,765
Designated as Hedging Instrument \| Forward Contracts
Derivatives, Fair Value [Line Items]
Notional amount \| €			€ 550,000
Designated as Hedging Instrument \| 1.25% 10-year notes due November 9, 2026 (euro-denominated) \| Forward Contracts
Derivatives, Fair Value [Line Items]
Notional amount \| €					€ 600,000
Designated as Hedging Instrument \| 0.750% 8-year notes due November 4, 2027 (euro denominated) \| Forward Contracts
Derivatives, Fair Value [Line Items]
Notional amount \| €				€ 500,000
Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Notional amount \| $	$ 88,363	$ 74,403

- Definition

The fair value amount of long-term debt whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)(i)
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
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-Section 50
-Paragraph 2
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Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
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-Section 50
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Reference 4: http://www.xbrl.org/2003/role/exampleRef
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-Section 55
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Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 9: http://www.xbrl.org/2003/role/exampleRef
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Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

+ Details

Segment Information - Reporting Information by Segment (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2026 USD ($) segment	Mar. 31, 2025 USD ($)
Segment Reporting [Abstract]
Number of reportable segments \| segment	5
Reconciliation from Segment Totals to Consolidated [Abstract]
Revenue	$ 2,053,623	$ 1,866,059
Purchase accounting expenses	54,579	49,104
Restructuring and other costs	36,795	9,397
Gain on dispositions	0	(2,468)
Interest expense	29,522	27,608
Interest income	(14,060)	(20,254)
Earnings before provision for income taxes	298,902	295,381
Provision for income taxes	60,153	56,140
Earnings from continuing operations	238,749	239,241
Restructuring	30,211	8,310
Other costs, net	6,584	1,087
Restructuring and other costs	36,795	9,397
Segment earnings margins:
Consolidated depreciation and amortization total	97,421	87,418
Operating Segments
Reconciliation from Segment Totals to Consolidated [Abstract]
Revenue	2,055,738	1,867,345
Adjusted cost of goods and services	1,225,694	1,108,763
Adjusted selling, general and administrative expenses	375,068	347,855
Earnings from continuing operations:	$ 454,976	$ 410,727
Segment earnings margins:
Total Segments (in percent)	22.20%	22.00%
Other depreciation and amortization	$ 40,327	$ 37,397
Operating Segments \| Engineered Products
Reconciliation from Segment Totals to Consolidated [Abstract]
Revenue	266,639	254,646
Adjusted cost of goods and services	182,548	173,080
Adjusted selling, general and administrative expenses	39,100	37,452
Earnings from continuing operations:	44,991	44,114
Restructuring	$ 1,724	$ 2,468
Segment earnings margins:
Total Segments (in percent)	16.90%	17.30%
Other depreciation and amortization	$ 5,486	$ 4,800
Operating Segments \| Clean Energy & Fueling
Reconciliation from Segment Totals to Consolidated [Abstract]
Revenue	554,809	491,148
Adjusted cost of goods and services	359,439	315,194
Adjusted selling, general and administrative expenses	96,329	90,310
Earnings from continuing operations:	99,041	85,644
Restructuring	$ 7,542	$ 1,768
Segment earnings margins:
Total Segments (in percent)	17.90%	17.40%
Other depreciation and amortization	$ 8,552	$ 8,578
Operating Segments \| Imaging & Identification
Reconciliation from Segment Totals to Consolidated [Abstract]
Revenue	285,420	280,090
Adjusted cost of goods and services	130,709	123,625
Adjusted selling, general and administrative expenses	77,254	78,890
Earnings from continuing operations:	77,457	77,575
Restructuring	$ 1,036	$ 169
Segment earnings margins:
Total Segments (in percent)	27.10%	27.70%
Other depreciation and amortization	$ 4,208	$ 4,093
Operating Segments \| Pumps & Process Solutions
Reconciliation from Segment Totals to Consolidated [Abstract]
Revenue	537,810	493,573
Adjusted cost of goods and services	264,099	252,164
Adjusted selling, general and administrative expenses	104,219	90,134
Earnings from continuing operations:	169,492	151,275
Restructuring	$ 10,971	$ 1,945
Segment earnings margins:
Total Segments (in percent)	31.50%	30.60%
Other depreciation and amortization	$ 14,012	$ 12,601
Operating Segments \| Climate & Sustainability Technologies
Reconciliation from Segment Totals to Consolidated [Abstract]
Revenue	411,060	347,888
Adjusted cost of goods and services	288,899	244,700
Adjusted selling, general and administrative expenses	58,166	51,069
Earnings from continuing operations:	63,995	52,119
Restructuring	$ 8,526	$ 1,666
Segment earnings margins:
Total Segments (in percent)	15.60%	15.00%
Other depreciation and amortization	$ 8,069	$ 7,325
Intersegment eliminations
Reconciliation from Segment Totals to Consolidated [Abstract]
Revenue	(2,115)	(1,286)
Corporate expense / other
Reconciliation from Segment Totals to Consolidated [Abstract]
Corporate expense / other	49,238	51,959
Restructuring	412	294
Segment earnings margins:
Other depreciation and amortization	1,928	1,840
Depreciation and amortization included in purchase accounting expenses and restructuring and other	$ 55,166	$ 48,181

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustments, tax (provision) benefit	$ (8,760)	$ 9,588
Pension and other postretirement benefit plans tax benefit	122	132
Cash flow hedges tax benefit (provision)	$ (461)	$ 396

Credit Losses

3 Months Ended

Mar. 31, 2026

Credit Loss [Abstract]

Credit Losses

7. Credit Losses

The Company is exposed to credit losses primarily through sales of products and services. Due to the short-term nature of such receivables, the estimated amount of accounts receivable that may not be collected is based on the aging of the accounts receivable balances and other historical information on the financial condition of customers adjusted for current conditions. The Company has elected the practical expedient to assume that current conditions as of the balance sheet date do not change for the remaining life of the assets. Balances are written off when determined to be uncollectible.

The following table provides a rollforward of the allowance for credit losses deducted from accounts receivable that represent the net amount expected to be collected.


	2026		2025
Balance at January 1	$	35,418	$	28,794

Provision for expected credit losses, net of recoveries	2,452		1,773
Amounts written off charged against the allowance	(754)		(892)
Other, including foreign currency translation	323		5,031
Balance at March 31	$	37,439	$	34,706

Earnings per Share - Reconciliation (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Earnings Per Share [Abstract]
Weighted average shares outstanding - basic (in shares)	134,977	137,267
Dilutive effect of assumed exercise of SARs and vesting of performance shares and RSUs (in shares)	918	993
Weighted average shares outstanding - Diluted (in shares)	135,895	138,260

Inventories, net

3 Months Ended

Mar. 31, 2026

Inventory Disclosure [Abstract]

Inventories, net

5. Inventories, net


	March 31, 2026		December 31, 2025
Raw materials	$	840,868	$	765,453
Work in progress	258,015		235,523
Finished goods	422,539		422,229
Subtotal	1,521,422		1,423,205
Less reserves	(150,586)		(150,421)
Total	$	1,370,836	$	1,272,784

Commitments and Contingent Liabilities

3 Months Ended

Mar. 31, 2026

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingent Liabilities

14. Commitments and Contingent Liabilities

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 March 31, 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 Company’s 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 incurred and currently accrued to-date and consider the availability and extent of insurance coverage.

The Company has estimated liabilities for these other legal matters that are probable and estimable, and at March 31, 2026 and December 31, 2025, these estimated liabilities were immaterial. While it is not possible at this time to predict the outcome of these legal actions, in the opinion of management, based on the aforementioned reviews, the Company is not currently involved in any legal proceedings which, individually or in the aggregate, could have a material effect on its financial position, results of operations, or cash flows.

See also Note 4 — Discontinued and Disposed Operations for details on litigation related to a discontinued operation.

Warranty Accruals

Estimated warranty program claims are provided for at the time of sale of the Company's products. Amounts provided for are based on historical costs and adjusted for new claims and are included within other accrued expenses and other liabilities in the condensed consolidated balance sheets. The changes in the carrying amount of product warranties through March 31, 2026 and 2025, were as follows:


	2026		2025
Balance at January 1	$	45,858	$	42,055
Provision for warranties	14,241		12,267
Settlements made	(13,145)		(12,961)
Other adjustments, including acquisitions and currency translation	(584)		740
Balance at March 31	$	46,370	$	42,101

Supply Chain Financing

Outstanding payments related to Supply Chain Financing ("SCF") programs are recorded within accounts payable in our condensed consolidated balance sheets. Amounts due to the SCF programs financial institutions as of March 31, 2026 and December 31, 2025 were approximately $126,694 and $117,884, respectively.

Financial Instruments - Fair Value (Details) - Level 2 - Fair Value, Measurements, Recurring - Cash Flow Hedging - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Assets:
Foreign currency cash flow hedges	$ 1,630	$ 647
Liabilities:
Foreign currency cash flow hedges	$ 177	$ 654

Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2026

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Fair Value of Derivative Instruments and the Balance Sheet Lines in Which They Are Recorded


	Fair Value Asset (Liability)
	March 31, 2026		December 31, 2025		Balance Sheet Caption
Foreign currency forward	$	1,630	$	647	Prepaid and other current assets
Foreign currency forward	(177)		(654)		Other accrued expenses

Schedule of Other Comprehensive Earnings (Loss) for the Gains (Losses) on Net Investment Hedges

Amounts recognized in other comprehensive earnings (loss) for the gains (losses) on net investment hedges were as follows:


	Three Months Ended March 31,
	2026		2025
Gain (loss) on euro-denominated debt	$	38,865	$	(42,413)


Tax (expense) benefit	(8,760)		9,588
Net gain (loss) on net investment hedges, net of tax	$	30,105	$	(32,825)

Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table presents the Company’s assets and liabilities measured at fair value on a recurring basis as of March 31, 2026 and December 31, 2025:


	March 31, 2026		December 31, 2025
	Level 2			Level 2
Assets:
Foreign currency cash flow hedges	$	1,630		$	647

Liabilities:
Foreign currency cash flow hedges	177			654

Credit Losses (Tables)

3 Months Ended

Mar. 31, 2026

Credit Loss [Abstract]

Schedule of Rollforward of Allowance for Credit Losses

The following table provides a rollforward of the allowance for credit losses deducted from accounts receivable that represent the net amount expected to be collected.


	2026		2025
Balance at January 1	$	35,418	$	28,794

Provision for expected credit losses, net of recoveries	2,452		1,773
Amounts written off charged against the allowance	(754)		(892)
Other, including foreign currency translation	323		5,031
Balance at March 31	$	37,439	$	34,706

Earnings per Share - Narrative (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Earnings Per Share [Abstract]
Weighted average number of anti-dilutive potential common shares excluded from reconciliation calculations (in shares)	60	42

Financial Instruments - Gain (Loss) on Net Investment Hedges (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Gain (loss) on euro-denominated debt	$ 38,865	$ (42,413)
Tax (expense) benefit	(8,760)	9,588
Net gain (loss) on net investment hedges, net of tax	$ 30,105	$ (32,825)

Acquisitions	3 Months Ended
Acquisitions	Mar. 31, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]
Acquisitions	3. Acquisitions 2026 Acquisitions One immaterial acquisition was completed during the three months ended March 31, 2026, within the Engineered Products segment. 2025 Acquisitions During the three months ended March 31, 2025, the Company acquired one business. On January 17, 2025, the Company acquired 100% of the equity interest in Cryogenic Machinery Corp. ("Cryo-Mach"), a provider of cryogenic centrifugal pumps, mechanical seals and accessories, for total consideration of $28,909, net of cash acquired and inclusive of measurement period adjustments. The Cryo-Mach business was acquired to expand the Company's participation in cryogenic applications within the Pumps & Process Solutions segment. In connection with this acquisition, the Company recorded tax-deductible goodwill of $9,250 and intangible assets of $21,020, primarily related to customer intangibles. The goodwill recorded as a result of the acquisition represents economic benefits expected to be derived from product line expansions and operational synergies.

- Definition

The entire disclosure for business combination.

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+ Details

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Statement of Stockholders' Equity [Abstract]
Common stock, par value per share (in dollars per share)	$ 1	$ 1
Dividends paid per common share (in dollars per share)	$ 0.52	$ 0.515

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common stock $1 par value	Additional paid-in capital	Retained earnings	Accumulated other comprehensive earnings (loss)	Treasury stock
Beginning balance at Dec. 31, 2024	$ 6,953,996	$ 260,031	$ 892,686	$ 13,409,633	$ (327,776)	$ (7,280,578)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	230,821			230,821
Dividends paid	(71,399)			(71,399)
Common stock issued for the exercise of share-based awards	(9,003)	86	(9,089)
Stock-based compensation expense	23,874		23,874
Common stock acquired	(40,700)					(40,700)
Other comprehensive earnings (loss), net of tax	50,178				50,178
Ending balance at Mar. 31, 2025	7,137,767	260,117	907,471	13,569,055	(277,598)	(7,321,278)
Beginning balance at Dec. 31, 2025	7,405,206	260,195	850,763	14,220,582	(174,954)	(7,751,380)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	238,433			238,433
Dividends paid	(70,446)			(70,446)
Common stock issued for the exercise of share-based awards	(29,704)	210	(29,914)
Stock-based compensation expense	20,960		20,960
Common stock acquired	(53,937)					(53,937)
Other comprehensive earnings (loss), net of tax	(20,626)				(20,626)
Ending balance at Mar. 31, 2026	$ 7,489,886	$ 260,405	$ 841,809	$ 14,388,569	$ (195,580)	$ (7,805,317)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

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+ Details

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended
	Nov. 12, 2025	Mar. 31, 2026	Mar. 31, 2025	Nov. 10, 2025	Aug. 31, 2023
Equity, Class of Treasury Stock [Line Items]
Repurchase of common stock		$ 53,937	$ 40,700
August 2023 Authorization
Equity, Class of Treasury Stock [Line Items]
Number of shares authorized to be repurchased (in shares)					20,000,000
Number of shares repurchased (in shares)		250,000	200,000
Repurchase of common stock		$ 53,937	$ 40,700
Repurchase price (in dollars per share)		$ 215.75	$ 203.50
Remaining number of shares authorized to be repurchased (in shares)		14,346,708
November 2025 ASR Agreement
Equity, Class of Treasury Stock [Line Items]
Payment for ASR agreement	$ 500			$ 500,000
Number of shares repurchased (in shares)	2,334,010

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Statement of Comprehensive Income [Abstract]
Net earnings	$ 238,433	$ 230,821
Foreign currency translation adjustments:
Foreign currency translation (loss) gain	(21,757)	52,006
Total foreign currency translation adjustments (net of $(8,760) and $9,588 tax (provision) benefit, respectively)	(21,757)	52,006
Pension and other post-retirement benefit plans:
Amortization of actuarial gain included in net periodic pension cost	(394)	(312)
Amortization of prior service credits included in net periodic pension cost	(54)	(159)
Total pension and other post-retirement benefit plans (net of $122 and $132 tax benefit, respectively)	(448)	(471)
Changes in fair value of cash flow hedges:
Unrealized net earnings (loss) arising during the period	1,781	(956)
Net gain reclassified into earnings	(202)	(401)
Total cash flow hedges (net of $(461) and $396 tax (provision) benefit, respectively)	1,579	(1,357)
Other comprehensive (loss) earnings, net of tax	(20,626)	50,178
Comprehensive earnings	$ 217,807	$ 280,999

Subsequent Events	3 Months Ended
Subsequent Events	Mar. 31, 2026
Subsequent Events [Abstract]
Subsequent Events	20. Subsequent Events In April 2026, JP Morgan delivered 153,652 additional shares which completed the ASR Program. Over the course of the ASR Program, the Company received a total of 2,487,662 shares. The total number of shares ultimately repurchased under the ASR Agreement was based on the average of the daily volume-weighted average share price of Dover's common stock during the calculation period of the ASR Program, less a discount, which was $200.99. On April 2, 2026, the Company entered into a new $1.5 billion five-year unsecured revolving credit facility with a syndicate of banks on substantially similar terms as the existing Credit Agreements. The $1.0 billion five-year unsecured revolving credit facility was terminated upon execution of the new credit facility and the $500.0 million 364-day unsecured revolving credit facility expired on the same day. The lenders' commitments under the new five-year credit agreement will terminate, and the loans under that credit agreement will mature, on April 2, 2031. As of April 23, 2026, there are no outstanding loans under the new revolving credit facility.

Earnings per Share

3 Months Ended

Mar. 31, 2026

Earnings Per Share [Abstract]

Earnings per Share

18. Earnings per Share

The following table sets forth a reconciliation of the information used in computing basic and diluted earnings per share:


	Three Months Ended March 31,
	2026		2025
Earnings from continuing operations	$	238,749	$	239,241
Loss from discontinued operations, net	(316)		(8,420)
Net earnings	$	238,433	$	230,821
Basic earnings per common share:
Earnings from continuing operations	$	1.77	$	1.74
Loss from discontinued operations, net	$	—	$	(0.06)
Net earnings	$	1.77	$	1.68

Weighted average shares outstanding	134,977,000		137,267,000
Diluted earnings per common share:
Earnings from continuing operations	$	1.76	$	1.73
Loss from discontinued operations, net	$	—	$	(0.06)
Net earnings	$	1.75	$	1.67

Weighted average shares outstanding	135,895,000		138,260,000

The following table is a reconciliation of the share amounts used in computing earnings per share:


	Three Months Ended March 31,
	2026	2025
Weighted average shares outstanding - basic	134,977,000	137,267,000
Dilutive effect of assumed exercise of SARs and vesting of performance shares and RSUs	918,000	993,000
Weighted average shares outstanding - diluted	135,895,000	138,260,000

Diluted earnings per share amounts are computed using the weighted average number of common shares outstanding and, if dilutive, potential common shares outstanding during the period. Potential common shares consist of the incremental common shares issuable upon the exercise of SARs and vesting of performance shares and RSUs, as determined using the treasury stock method.

The number of anti-dilutive potential common shares excluded from the calculation above were approximately 60,000 and 42,000 for the three months ended March 31, 2026 and 2025, respectively.

Borrowings

3 Months Ended

Mar. 31, 2026

Debt Disclosure [Abstract]

Borrowings

10. Borrowings

Borrowings consist of the following:


			Carrying amount (1)
	Principal		March 31, 2026		December 31, 2025
Long-term

1.25% 10-year notes due November 9, 2026 (euro-denominated)	€	600,000	692,848		706,677
0.750% 8-year notes due November 4, 2027 (euro-denominated)	€	500,000	576,532		588,082
6.65% 30-year debentures due June 1, 2028	$	200,000	199,782		199,757
2.950% 10-year notes due November 4, 2029	$	300,000	298,639		298,544
3.50% 8-year notes due November 12, 2033 (euro-denominated)	€	550,000	630,167		642,927
5.375% 30-year debentures due October 15, 2035	$	300,000	297,619		297,557
6.60% 30-year notes due March 15, 2038	$	250,000	248,647		248,618
5.375% 30-year notes due March 1, 2041	$	350,000	345,879		345,810

Total long-term debt			3,290,113		3,327,972
Less long-term debt current portion			(692,848)		(706,677)
Net long-term debt			$	2,597,265	$	2,621,295

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 interest method.

As of March 31, 2026, the Company maintained a $1.0 billion five-year unsecured revolving credit facility and a $500.0 million 364-day unsecured revolving credit facility (together, the "Credit Agreements") with a syndicate of banks. The 364-day credit facility expired on April 2, 2026. The Credit Agreements are designated as a liquidity back-stop for the Company's commercial paper program and also are available for general corporate purposes. At the Company's election, loans under the Credit Agreements will bear interest at a base rate plus an applicable margin. The Credit Agreements require the Company to pay facility fees and impose various restrictions on the Company such as, among other things, a requirement to maintain a minimum interest coverage ratio of consolidated EBITDA to consolidated net interest expense of not less than 3.0 to 1. As of March 31, 2026 and December 31, 2025, there were no outstanding borrowings under the five-year or 364-day credit facilities.

On April 2, 2026, the Company entered into a new $1.5 billion five-year unsecured revolving credit facility with a syndicate of banks on substantially similar terms as the existing Credit Agreements. The new five-year credit facility replaced the existing Credit Agreements. See Note 20 — Subsequent Events for additional details.

The Company was in compliance with all covenants in the Credit Agreements and other long-term debt covenants at March 31, 2026 and had an interest coverage ratio of consolidated EBITDA to consolidated net interest expense of 40.8 to 1.

Letters of Credit and other Guarantees

As of March 31, 2026, the Company had approximately $230.0 million outstanding in letters of credit, surety bonds, and performance and other guarantees which primarily expire on various dates through 2035. These letters of credit and bonds are primarily issued as security for insurance, warranty and other performance obligations. In general, we would only be liable for the amount of these guarantees in the event of default in the performance of our obligations, the probability of which is believed to be remote.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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+ Details

Recent Accounting Pronouncements	3 Months Ended
Recent Accounting Pronouncements	Mar. 31, 2026
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	19. Recent Accounting Pronouncements Recently Issued Accounting Standards In November 2024, the FASB issued ASU No. 2024-03, Income Statement—Reporting 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 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 entity’s 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 beginning after December 15, 2024. The Company adopted the guidance during the fourth quarter of 2025. In July 2025, the FASB issued ASU No. 2025-05, Financial Instruments—Credit 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 adopted the guidance as of January 1, 2026. The adoption did not have a material impact on the Company's condensed consolidated financial statements. See Note 7 — Credit Losses for further details. In September 2025, the FASB issued ASU No. 2025-06, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software, which changes the requirements for when entities may begin capitalizing costs for internal-use software. The amendments are effective for fiscal years beginning after December 15, 2027, and interim reporting periods within those annual reporting periods. Early adoption is permitted as of the beginning of an annual reporting period. The Company adopted the guidance on January 1, 2026. The adoption did not have a material impact on the Company's condensed consolidated financial statements.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

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+ Details

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 1,641,916	$ 1,676,808
Receivables, net	1,444,558	1,371,352
Inventories, net	1,370,836	1,272,784
Prepaid and other current assets	219,425	185,996
Total current assets	4,676,735	4,506,940
Property, plant and equipment, net	1,114,380	1,119,623
Goodwill	5,401,395	5,430,038
Intangible assets, net	1,702,328	1,759,616
Other assets and deferred charges	611,842	606,206
Total assets	13,506,680	13,422,423
Current liabilities:
Current portion of long-term debt	692,848	706,677
Accounts payable	975,514	875,678
Accrued compensation and employee benefits	186,315	280,737
Deferred revenue	163,428	155,025
Accrued insurance	84,354	87,596
Other accrued expenses	361,786	352,053
Federal and other income taxes	42,875	60,723
Total current liabilities	2,507,120	2,518,489
Long-term debt	2,597,265	2,621,295
Deferred income taxes	443,032	394,368
Other liabilities	469,377	483,065
Stockholders' equity:
Total stockholders' equity	7,489,886	7,405,206
Total liabilities and stockholders' equity	$ 13,506,680	$ 13,422,423

Property, Plant and Equipment, net (Tables)

3 Months Ended

Mar. 31, 2026

Property, Plant and Equipment [Abstract]

Schedule of Components of Property, Plant and Equipment, net


	March 31, 2026		December 31, 2025
Land	$	67,929	$	68,650
Buildings and improvements	715,340		705,756

Machinery, equipment and other	2,180,818		2,170,149
Property, plant and equipment, gross	2,964,087		2,944,555
Accumulated depreciation	(1,849,707)		(1,824,932)
Property, plant and equipment, net	$	1,114,380	$	1,119,623

Segment Information - Revenue Disaggregated by Geography (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue by geography:	$ 2,053,623	$ 1,866,059
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue by geography:	1,142,717	1,023,117
Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue by geography:	447,773	397,291
Asia
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue by geography:	216,073	208,732
Other Americas
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue by geography:	169,581	159,896
Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue by geography:	$ 77,479	$ 77,023

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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+ Details

Borrowings - Long Term Debt (Details) € in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2026 USD ($)	Mar. 31, 2026 EUR (€)	Dec. 31, 2025 USD ($)
Long-term
Total long-term debt	$ 3,290,113		$ 3,327,972
Less long-term debt current portion	(692,848)		(706,677)
Net long-term debt	2,597,265		2,621,295
Unamortized debt discounts	8,000		8,600
Deferred debt issuance costs	$ 9,200		9,700
1.25% 10-year notes due November 9, 2026 (euro-denominated)
Long-term
Stated interest rate	1.25%	1.25%
Term of debt	10 years
Principal \| €		€ 600,000
Total long-term debt	$ 692,848		706,677
0.750% 8-year notes due November 4, 2027 (euro-denominated)
Long-term
Stated interest rate	0.75%	0.75%
Term of debt	8 years
Principal \| €		€ 500,000
Total long-term debt	$ 576,532		588,082
6.65% 30-year debentures due June 1, 2028
Long-term
Stated interest rate	6.65%	6.65%
Term of debt	30 years
Principal	$ 200,000
Total long-term debt	$ 199,782		199,757
2.950% 10-year notes due November 4, 2029
Long-term
Stated interest rate	2.95%	2.95%
Term of debt	10 years
Principal	$ 300,000
Total long-term debt	$ 298,639		298,544
3.50% 8-year notes due November 12, 2033 (euro-denominated)
Long-term
Stated interest rate	3.50%	3.50%
Term of debt	8 years
Principal \| €		€ 550,000
Total long-term debt	$ 630,167		642,927
5.375% 30-year debentures due October 15, 2035
Long-term
Stated interest rate	5.375%	5.375%
Term of debt	30 years
Principal	$ 300,000
Total long-term debt	$ 297,619		297,557
6.60% 30-year notes due March 15, 2038
Long-term
Stated interest rate	6.60%	6.60%
Term of debt	30 years
Principal	$ 250,000
Total long-term debt	$ 248,647		248,618
5.375% 30-year notes due March 1, 2041
Long-term
Stated interest rate	5.375%	5.375%
Term of debt	30 years
Principal	$ 350,000
Total long-term debt	$ 345,879		$ 345,810

Accumulated Other Comprehensive Earnings (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other income, net	$ (8,455)	$ (3,958)
Net gain reclassified into earnings	(298,902)	(295,381)
Tax provision	60,153	56,140
Net of tax	(238,433)	(230,821)
Reclassification out of Accumulated Other Comprehensive Income \| Pension plans:
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net gain reclassified into earnings	(570)	(603)
Tax provision	122	132
Net of tax	(448)	(471)
Reclassification out of Accumulated Other Comprehensive Income \| Amortization of actuarial gain
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other income, net	(506)	(408)
Reclassification out of Accumulated Other Comprehensive Income \| Amortization of prior service credits
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other income, net	(64)	(195)
Reclassification out of Accumulated Other Comprehensive Income \| Cash flow hedges:
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net gain reclassified into earnings	(263)	(479)
Tax provision	61	78
Net of tax	$ (202)	$ (401)

Equity Incentive Program

3 Months Ended

Mar. 31, 2026

Share-Based Payment Arrangement [Abstract]

Equity Incentive Program

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 three months ended March 31, 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 three months ended March 31, 2025, the Company issued SARs covering 282,917 shares, PSAs of 34,458 and RSUs of 57,614.

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)	5.5		5.5
Volatility	23.47	%	30.50	%

Grant price	$231.63		$202.33
Fair value per share at date of grant	$61.59		$66.39

The PSAs granted in 2026 and 2025 vest based on the attainment of two equally weighted measures: (i) Dover’s performance relative to established internal metrics (performance condition) and (ii) Dover's performance relative to its peer group (companies listed under the S&P 500 Industrials sector; market condition).

The grant date fair value of the performance condition portion is determined using Dover’s closing stock price at the date of grant and the amount of expense recognized over the vesting period is subject to adjustment based on the expected attainment of the performance condition. The grant date fair value per share of the 2026 and 2025 PSAs' performance condition portion were $231.63 and $202.33, respectively.

The grant date fair value of the 2026 and 2025 market condition portion is determined using the Monte Carlo simulation model. The amount of expense recognized over the vesting period is not subject to change based on future market conditions. The assumptions used in the Monte Carlo model to determine the fair value of the PSAs granted in the respective periods were as follows:


	PSAs
	2026		2025
Risk-free interest rate	3.39	%	4.21	%
Dividend yield	0.90	%	1.02	%
Expected life (years)	2.9		2.9
Volatility	25.10	%	23.10	%

Grant price	$231.63		$202.33
Fair value per share at date of grant	$403.67		$318.38

The performance and vesting period for all 2026 and 2025 PSAs is three years.

The Company also has granted RSUs, and the fair value of these awards was determined using Dover's closing stock price on the date of grant, which was $231.63 and $202.33 for RSUs granted in 2026 and 2025, respectively.

Stock-based compensation is reported within selling, general and administrative expenses in the condensed consolidated statements of earnings. The following table summarizes the Company’s compensation expense relating to all stock-based incentive plans:


	Three Months Ended March 31,
	2026		2025
Pre-tax stock-based compensation expense	$	20,960	$	23,874
Tax benefit	(2,195)		(2,504)
Total stock-based compensation expense, net of tax	$	18,765	$	21,370