Dover (DOV) 10-Q 20 Apr 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	3 Months Ended
	Mar. 31, 2017	Apr. 13, 2017	Jun. 30, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	DOVER Corp
Entity Central Index Key	29,905
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$ 10,669,106,014
Entity Common Stock, Shares Outstanding		155,669,697
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2017

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Revenue	$ 1,813,372	$ 1,622,273
Cost of goods and services	1,152,198	1,033,009
Gross profit	661,174	589,264
Selling, general and administrative expenses	485,290	443,448
Operating earnings	175,884	145,816
Interest Expense	36,409	33,318
Interest Income	(2,580)	(1,604)
Gain on sale of businesses	(90,093)	(11,228)
Other expense (income), net	176	(2,294)
Earnings before provision for income taxes	231,972	127,624
Provision for income taxes	59,725	28,268
Net earnings	$ 172,247	$ 99,356
Net earnings per share: [Abstract]
Net earnings (in dollars per basic share)	$ 1.11	$ 0.64
Net earnings (in dollars per diluted share)	$ 1.09	$ 0.64
Weighted average shares outstanding: [Abstract]
Weighted average shares outstanding - basic	155,540,000	155,064,000
Weighted average shares outstanding - diluted	157,399,000	156,161,000
Dividends paid per common share (in dollars per share)	$ 0.44	$ 0.42

CONDENSED CONSOLIDATED STATEME3

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE EARNINGS (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Statement of Comprehensive Income [Abstract]
Net earnings	$ 172,247	$ 99,356
Foreign currency translation adjustments [Abstract]
Foreign currency translation gains during period	39,897	8,769
Reclassification of foreign currency translation losses to earnings upon sale of subsidiaries	(3,875)	0
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment from AOCI, Realized upon Sale or Liquidation, before Tax	(3,875)	0
Total foreign currency translation adjustment	43,772	8,769
Pension and other postretirement benefit plans [Abstract]
Amortization of actuarial losses included in net periodic pension cost	1,338	1,409
Amortization of prior service cost included in net periodic pension cost	702	1,041
Total pension and other postretirement benefit plans	2,040	2,450
Changes in fair value of cash flow hedges [Abstract]
Unrealized net gains (losses) arising during period	78	(49)
Net losses reclassified into earnings	(217)	(47)
Total cash flow hedges	(139)	(96)
Other	337	1,839
Other comprehensive earnings	46,010	12,962
Comprehensive earnings	$ 218,257	$ 112,318

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 415,530	$ 349,146
Receivables, net of allowances	1,299,427	1,265,201
Inventories, net	942,176	870,487
Prepaid and other current assets	104,786	104,357
Total current assets	2,761,919	2,589,191
Property, plant and equipment, net	946,376	945,670
Goodwill	4,508,720	4,562,677
Intangible assets, net	1,782,107	1,802,923
Other assets and deferred charges	239,186	215,530
Total assets	10,238,308	10,115,991
Current liabilities:
Notes payable and current maturities of long-term debt	748,426	414,550
Accounts payable	880,755	830,318
Accrued compensation and employee benefits	189,665	226,440
Accrued insurance	103,230	96,062
Other accrued expenses	320,555	332,595
Federal and other income taxes	76,572	40,353
Total current liabilities	2,319,203	1,940,318
Long-term debt	2,887,962	3,206,637
Deferred income taxes	643,363	710,173
Other liabilities	434,365	459,117
Stockholders' Equity:
Total stockholders' equity	3,953,415	3,799,746
Total liabilities and stockholders' equity	$ 10,238,308	$ 10,115,991

CONDENSED CONSOLIDATED BALANCE5

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Current assets:
Allowance for doubtful accounts receivable	$ 27,182	$ 22,015

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (unaudited) - 3 months ended Mar. 31, 2017 - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Earnings (Loss) [Member]	Treasury Stock [Member]
Balance at Dec. 31, 2016	$ 3,799,746	$ 256,538	$ 946,755	$ 7,927,795	$ (359,326)	$ (4,972,016)
Net earnings	172,247	0	0	172,247	0	0
Dividends paid	(68,516)	0	0	(68,516)	0	0
Common stock issued for the exercise of share-based awards	(8,877)	229	(9,106)	0	0	0
Share-based compensation expense	12,805	0	12,805	0	0	0
Other comprehensive earnings, net of tax	46,010	0	0	0	46,010	0
Balance at Mar. 31, 2017	$ 3,953,415	$ 256,767	$ 950,454	$ 8,031,526	$ (313,316)	$ (4,972,016)

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (unaudited) (Parenthetical) - $ / shares	Mar. 31, 2017	Dec. 31, 2016
Statement of Stockholders' Equity [Abstract]
Preferred stock, par value per share	$ 100	$ 100
Preferred stock, shares authorized	100,000	100,000
Preferred stock, shares issued	0	0
Common stock, par value per share	$ 1	$ 1

CONDENSED CONSOLIDATED STATEME8

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Operating Activities
Net earnings	$ 172,247	$ 99,356
Adjustments to reconcile net earnings to cash from operating activities:
Depreciation and amortization	95,598	88,604
Stock-based compensation expense	12,805	11,387
Gain on sale of businesses	(90,093)	(11,228)
Cash effect of changes in current assets and liabilities (excluding effects of acquisitions, dispositions and foreign exchange):
Accounts receivable, net	(23,207)	20,103
Inventories	(75,485)	(29,478)
Prepaid expenses and other assets	(8,189)	(1,522)
Accounts payable	43,833	(14,299)
Accrued compensation and employee benefits	(42,186)	(65,887)
Accrued expenses and other liabilities	(41,782)	3,202
Accrued and deferred taxes, net	41,572	45,654
Other, net	(7,042)	(12,479)
Net cash provided by operating activities	78,071	133,413
Investing Activities
Additions to property, plant and equipment	(42,259)	(37,230)
Acquisitions, net of cash and cash equivalents acquired	0	(436,058)
Proceeds from sale of property, plant and equipment	1,273	619
Proceeds from sale of businesses	120,397	47,300
Other	2,369	(488)
Net cash provided by (used in) investing activities	81,780	(425,857)
Financing Activities
Proceeds and Excess Tax Benefits from Share-based Compensation	0	2,181
Change in commercial paper and notes payable	(15,900)	247,099
Dividends paid to stockholders	(68,516)	(65,940)
Payments to settle employee tax obligations on exercise of share-based awards	(8,877)	(4,833)
Net cash (used in) provided by financing activities	(93,293)	178,507
Cash Flows
Effect of exchange rate changes on cash and cash equivalents	(174)	(4,528)
Net increase (decrease) in cash and cash equivalents	66,384	(118,465)
Cash and cash equivalents at beginning of period	349,146	362,185
Cash and cash equivalents at end of period	$ 415,530	$ 243,720

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2017
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 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, 2016 , included in the Company's Annual Report on Form 10-K filed with the SEC on February 10, 2017. The year end Condensed Consolidated Balance Sheet was derived from audited financial statements. Certain amounts in the prior year have been reclassified to conform to the current year presentation. The accompanying unaudited interim Consolidated Financial Statements have been prepared in accordance with U.S. GAAP, which requires management 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 best knowledge of current events and actions that the Company may undertake in the future, actual results may differ from those estimates. The Condensed Consolidated Financial Statements 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.

Acquisitions

Acquisitions	3 Months Ended
	Mar. 31, 2017
Business Combinations [Abstract]
Acquisitions	2. Acquisitions During the three months ended March 31, 2017 , the Company did not have any acquisitions. During the three months ended March 31, 2016 , the Company acquired the dispenser and systems businesses of Tokheim Group S.A.S. ("Tokheim") within the Fluids segment for net cash consideration of $436,058 . During the measurement period, we recorded working capital adjustments which resulted in final net cash consideration of $417,238 . See Note 6 — Goodwill and Other Intangible Assets for purchase price adjustments related to acquisitions made in 2016. Purchase price allocation adjustments may arise through working capital adjustments, asset appraisals or to reflect additional facts and circumstances in existence as of the acquisition date. Identified measurement period adjustments will be recorded, including any related impacts to net earnings, in the reporting period in which the adjustments are determined and may be significant. Subsequent Event - Acquisition On April 5, 2017, the Company purchased 100% of the voting stock of Caldera Graphics S.A.S. for approximately €35 million (approximately $37 million ). At the date of issuance of the consolidated financial statements, the initial purchase price allocation was not complete for this acquisition. See Note 19 — Subsequent Event for additional information regarding the acquisition. Pro Forma Information The following unaudited pro forma information illustrates the impact of 2016 acquisitions on the Company’s revenue and earnings from operations for the three months ended March 31, 2017 and 2016 , respectively. In 2016, the Company acquired six businesses in separate transactions for total net consideration of $1,562 million . During the measurement period, we recorded working capital adjustments which resulted in final net cash consideration of $1,559 million . The pro forma information assumes that the 2016 acquisitions had taken place at the beginning of the prior year. Pro forma earnings are also adjusted to reflect the comparable impact of additional depreciation and amortization expense, net of tax, resulting from the fair value measurement of tangible and intangible assets relating to the year of acquisition. The proforma effects for the three months ended March 31, 2017 and 2016 were as follows: Three Months Ended March 31, 2017 2016 Revenue: As reported $ 1,813,372 $ 1,622,273 Pro forma 1,813,372 1,820,228 Earnings: As reported $ 172,247 $ 99,356 Pro forma 172,247 110,690 Basic earnings per share: As reported $ 1.11 $ 0.64 Pro forma 1.11 0.71 Diluted earnings per share: As reported $ 1.09 $ 0.64 Pro forma 1.09 0.71

Discontinued Operations

Discontinued Operations	3 Months Ended
	Mar. 31, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Discontinued Operations	3. Disposed Operations On February 14, 2017, the Company completed the sale of Performance Motorsports International ("PMI"), a wholly-owned subsidiary of the Company that manufactures pistons and other engine related components serving the motorsports and powersports markets. Total consideration was $147,313 for the transaction, including cash proceeds of $118,706 . We recognized a gain on sale of $88,402 for the three months ended March 31, 2017 within the Condensed Consolidated Statements of Earnings and recorded a 25% non-controlling interest at fair value of $18,607 as well as a subordinated note receivable of $10,000 . On February 17, 2016, the Company completed the sale of Texas Hydraulics, a custom manufacturer of fluid power components. Upon disposal of the business, the Company recognized total consideration of $47,300 , which resulted in a gain on sale of $11,228 included within the Condensed Consolidated Statements of Earnings for the three months ended March 31, 2016 . These disposals did not represent a strategic shift in operations and, therefore, did not qualify for presentation as discontinued operations.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2017
Inventory, Net [Abstract]
Inventory Disclosure	4. Inventories March 31, 2017 December 31, 2016 Raw materials $ 475,708 $ 428,286 Work in progress 157,653 138,652 Finished goods 418,775 409,314 Subtotal 1,052,136 976,252 Less reserves (109,960 ) (105,765 ) Total $ 942,176 $ 870,487

Property, Plant and Equipment

Property, Plant and Equipment	3 Months Ended
	Mar. 31, 2017
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment Disclosure	5. Property, Plant and Equipment, net March 31, 2017 December 31, 2016 Land $ 69,187 $ 68,575 Buildings and improvements 601,612 597,523 Machinery, equipment and other 1,815,260 1,802,832 Property, plant and equipment, gross 2,486,059 2,468,930 Total accumulated depreciation (1,539,683 ) (1,523,260 ) Property, plant and equipment, net $ 946,376 $ 945,670 Depreciation expense totaled $44,718 and $45,029 for the three months ended March 31, 2017 and 2016 , respectively.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	3 Months Ended
	Mar. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	6. Goodwill and Other Intangible Assets The changes in the carrying value of goodwill by reportable operating segments were as follows: Energy Engineered Systems Fluids Refrigeration & Food Equipment Total Balance at December 31, 2016 $ 1,045,774 $ 1,567,216 $ 1,413,508 $ 536,179 $ 4,562,677 Purchase price adjustments — (5,313 ) (44,785 ) — (50,098 ) Disposition of business — (27,793 ) — — (27,793 ) Foreign currency translation 941 22,030 765 198 23,934 Balance at March 31, 2017 $ 1,046,715 $ 1,556,140 $ 1,369,488 $ 536,377 $ 4,508,720 As noted in Note 3 — Disposed Operations , the Company completed the sale of its PMI business during the three months ended March 31, 2017 . As a result of this sale, the Engineered Systems goodwill balance was reduced by $27,793 . During the three months ended March 31, 2017 , the Company recorded $50,098 in adjustments for goodwill related to purchase price adjustments principally for deferred tax liabilities and working capital adjustments for 2016 acquisitions. The Company tests goodwill for impairment annually in the fourth quarter of each year and whenever events or circumstances indicate an impairment may have occurred. In the first quarter of 2017, the Company re-aligned its reporting units after acquiring four companies in the retail fueling market in 2016, increasing its reporting units from nine to ten . The Company performed the goodwill impairment test for the three reporting units within the Fluids segment impacted by the change, concluding that the fair values of the reporting units were in excess of their carrying values. The Company’s definite-lived and indefinite-lived intangible assets by major asset class were as follows: March 31, 2017 December 31, 2016 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortized intangible assets: Customer intangibles $ 1,967,835 $ 759,061 $ 1,208,774 $ 1,942,974 $ 718,135 $ 1,224,839 Trademarks 247,013 60,910 186,103 246,619 56,455 190,164 Patents 158,538 122,633 35,905 157,491 119,828 37,663 Unpatented technologies 157,146 68,791 88,355 155,752 64,648 91,104 Distributor relationships 119,267 47,344 71,923 113,463 44,914 68,549 Drawings & manuals 38,803 24,518 14,285 37,744 23,114 14,630 Other 33,037 21,866 11,171 31,632 21,184 10,448 Total 2,721,639 1,105,123 1,616,516 2,685,675 1,048,278 1,637,397 Unamortized intangible assets: Trademarks 165,591 — 165,591 165,526 — 165,526 Total intangible assets, net $ 2,887,230 $ 1,105,123 $ 1,782,107 $ 2,851,201 $ 1,048,278 $ 1,802,923 Amortization expense was $50,880 and $43,574 for the three months ended March 31, 2017 and 2016 , respectively.

Restructuring Activities

Restructuring Activities	3 Months Ended
	Mar. 31, 2017
Restructuring [Abstract]
Restructuring and Related Activities Disclosure	7. Restructuring Activities The Company's restructuring charges by segment were as follows: Three Months Ended March 31, 2017 2016 Energy $ 185 $ 6,416 Engineered Systems 1,064 1,967 Fluids 3,251 5,226 Refrigeration & Food Equipment 1,513 21 Corporate — 757 Total $ 6,013 $ 14,387 These amounts are classified in the unaudited Condensed Consolidated Statements of Earnings as follows: Cost of goods and services $ 4,071 $ 5,851 Selling, general and administrative expenses 1,942 8,536 Total $ 6,013 $ 14,387 The restructuring expenses of $6,013 incurred during the three months ended March 31, 2017 were related to restructuring programs initiated during 2017 and 2016 . These programs are designed to better align the Company's costs and operations with current market conditions through targeted facility consolidations, headcount reductions and other measures to further optimize operations. The Company expects the programs currently underway to be substantially completed in the next 12 to 18 months. The $6,013 of restructuring charges incurred during the first quarter of 2017 primarily included the following items: • The Engineered Systems segment recorded $1,064 of restructuring charges related to headcount reduction and facility consolidations primarily within the Industrial platform. • The Fluids segment recorded $3,251 of restructuring charges principally related to operational synergies, headcount reductions and facility consolidations at various businesses across the segment. • The Refrigeration & Food Equipment segment recorded $1,513 of restructuring charges related primarily to facility consolidations. The Company’s severance and exit accrual activities were as follows: Severance Exit Total Balance at December 31, 2016 $ 10,908 $ 1,439 $ 12,347 Restructuring charges 4,686 1,327 6,013 Payments (7,514 ) (1,196 ) (8,710 ) Foreign currency translation 212 35 247 Other, including write-offs of fixed assets (627 ) (301 ) (928 ) Balance at March 31, 2017 $ 7,665 $ 1,304 $ 8,969

Borrowings

Borrowings	3 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Borrowings	8. Borrowings Borrowings consisted of the following: March 31, 2017 December 31, 2016 Short-term Current portion of long-term debt and short-term borrowings $ 357,126 $ 6,950 Commercial paper 391,300 407,600 Notes payable and current maturities of long-term debt $ 748,426 $ 414,550 Carrying amount (1) Principal March 31, 2017 December 31, 2016 Long-term 5.45% 10-year notes due March 15, 2018 $ 350,000 $ 349,623 $ 349,502 2.125% 7-year notes due December 1, 2020 (euro-denominated) 323,957 322,207 311,851 4.30% 10-year notes due March 1, 2021 450,000 448,554 448,458 3.150% 10-year notes due November 15, 2025 400,000 394,189 394,042 1.25% 10-year notes due November 9, 2026 (euro-denominated) 647,913 637,200 616,893 6.65% 30-year debentures due June 1, 2028 200,000 198,879 198,830 5.375% 30-year debentures due October 15, 2035 300,000 295,374 295,316 6.60% 30-year notes due March 15, 2038 250,000 247,628 247,593 5.375% 30-year notes due March 1, 2041 350,000 343,393 343,323 Other 1,716 1,969 Total debt 3,238,763 3,207,777 Less long-term debt current portion (350,801 ) (1,140 ) Net long-term debt $ 2,887,962 $ 3,206,637 (1) Carrying amount is net of unamortized debt discount and deferred debt issuance costs. Total unamortized debt discounts were $18.2 million and $18.8 million as of March 31, 2017 and December 31, 2016 , respectively. Total deferred debt issuance costs were $16.3 million and $16.5 million as of March 31, 2017 and December 31, 2016 , respectively. On March 15, 2018, the outstanding 5.45% notes with a principal value of $350.0 million will mature. These notes have been classified as a current maturity of long-term debt as of March 31, 2017 . The Company maintains a $1.0 billion five-year unsecured revolving credit facility (the "Credit Agreement") with a syndicate of banks which expires on November 10, 2020 . The Company was in compliance with all covenants in the Credit Agreement and other long-term debt covenants at March 31, 2017 and had a coverage ratio of 10.1 to 1.0. The Company primarily uses the Credit Agreement as liquidity back-up for its commercial paper program and has not drawn down any loans under the facility and does not anticipate doing so. The Company generally uses commercial paper borrowings for general corporate purposes, funding of acquisitions and repurchases of its common stock. As of March 31, 2017 , the Company had approximately $136,523 outstanding in letters of credit and performance and other guarantees which expire on various dates in 2017 through 2039 . These letters of credit are primarily maintained 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 we believe is remote.

Financial Instruments

Financial Instruments	3 Months Ended
	Mar. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities Disclosure	9. Financial Instruments Derivatives 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 to 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, 2017 and December 31, 2016 , the Company had contracts with U.S. dollar equivalent notional amounts of $104,133 and $59,932 , respectively, to exchange foreign currencies, principally the Chinese Yuan, Pound Sterling, Swedish Krona, Euro, Canadian Dollar 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 $56,987 and $56,189 as of March 31, 2017 and December 31, 2016 , 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 expense (income), net in the Condensed Consolidated Statements of Earnings. The following table sets forth the fair values of derivative instruments held by the Company as of March 31, 2017 , and December 31, 2016 and the balance sheet lines in which they are recorded: Fair Value Asset (Liability) March 31, 2017 December 31, 2016 Balance Sheet Caption Foreign currency forward $ 665 $ 1,058 Prepaid / Other assets Foreign currency forward (700 ) (705 ) Other accrued expenses For a cash flow hedge, the effective portion of the change in estimated fair value of a hedging instrument is recorded in Accumulated other comprehensive loss as a separate component of the Condensed Consolidated Statements of Stockholders' Equity and is reclassified into Cost of goods and services in the Condensed Consolidated Statements of Earnings during the period in which the hedged transaction is recognized. 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. The Company has designated the €600,000 and €300,000 of euro-denominated notes issued November 9, 2016 and December 4, 2013, respectively, as hedges of a portion of its net investment in euro-denominated operations. Changes in the value of the euro-denominated debt are recognized in foreign currency translation adjustments within Other comprehensive earnings (loss) of the Condensed Consolidated Statements of Comprehensive Earnings to offset changes in the value of the net investment in euro-denominated operations. Amounts recognized in Other comprehensive earnings (loss) for the gains (losses) on net investment hedges were as follows: Three Months Ended March 31, 2017 2016 Loss on euro-denominated debt $ (30,521 ) $ (6,165 ) Tax benefit 10,682 2,158 Net loss on net investment hedges, net of tax $ (19,839 ) $ (4,007 ) Fair Value Measurements Accounting Standards Codification ("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. 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, 2017 and December 31, 2016 : March 31, 2017 December 31, 2016 Level 2 Level 2 Assets: Foreign currency cash flow hedges $ 665 $ 1,058 Liabilities: Foreign currency cash flow hedges 700 705 In addition to fair value disclosure requirements related to financial instruments carried at fair value, accounting standards require interim disclosures regarding the fair value of all of the Company’s financial instruments. The estimated fair value of long-term debt, net at March 31, 2017 , and December 31, 2016 was $3,189,216 and $3,534,553 , respectively, compared to the carrying value of $3,238,763 and $3,207,777 , 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 notes payable are reasonable estimates of their fair values as of March 31, 2017 , and December 31, 2016 due to the short-term nature of these instruments.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Income Taxes	10. Income Taxes The effective tax rates for the three months ended March 31, 2017 and 2016 were 25.7% and 22.1% , respectively. The increase in the effective tax rate for the three months ended March 31, 2017 relative to the prior comparable period is principally due to the larger benefit from the discrete items in 2016 compared to 2017. The discrete items for the three months ended March 31, 2017 primarily resulted from the gain on the sale of PMI. The discrete items for the three months ended March 31, 2016 principally resulted from the impact on deferred tax balances of a tax rate reduction in a non-US jurisdiction. In the first quarter of 2017 , stock-based compensation excess tax benefits of $3,346 were reflected in the Condensed Consolidated Statement of Earnings as a component of the provision for income taxes as a result of adopting Accounting Standards Update ("ASU") 2016-09, Compensation Stock Compensation (Topic 718) . See Note 18 — Recent Accounting Pronouncements regarding the adoption of the standard. Dover and its subsidiaries file tax returns in the U.S., including various state and local returns, and in other foreign jurisdictions. We believe adequate provision has been made for all income tax uncertainties. The Company is routinely audited by taxing authorities in its filing jurisdictions, and a number of these audits are currently underway. The Company believes that within the next twelve months uncertain tax positions may be resolved and statutes of limitations will expire, which could result in a decrease in the gross amount of unrecognized tax benefits of approximately zero to $17,905 .

Equity Incentive Program

Equity Incentive Program	3 Months Ended
	Mar. 31, 2017
Share-based Compensation [Abstract]
Share-based Compensation	11. Equity Incentive Program The Company typically grants equity awards annually at its regularly scheduled first quarter meeting of the Compensation Committee of the Board of Directors. During the first quarter of 2017 , the Company issued stock-settled appreciation rights ("SARs") covering 1,028,116 shares, performance share awards of 57,958 and restricted stock units ("RSUs") of 170,310 . 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 SARs 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 2017 2016 Risk-free interest rate 1.80 % 1.05 % Dividend yield 2.27 % 3.09 % Expected life (years) 4.6 4.6 Volatility 21.90 % 26.17 % Grant price $ 79.28 $ 57.25 Fair value per share at date of grant $ 12.63 $ 9.25 The performance share awards granted in 2017 and 2016 are considered performance condition awards as attainment is based on Dover's performance relative to established internal metrics. The fair value of these awards was determined using Dover's closing stock price on the date of grant. The expected attainment of the internal metrics for these awards is analyzed each reporting period, and the related expense is adjusted based on expected attainment, if that attainment differs from previous estimates. The cumulative effect on current and prior periods of a change in attainment is recognized in selling, general and administrative expenses in the unaudited Condensed Consolidated Statements of Earnings in the period of change. The fair value and average attainment used in determining stock-based compensation cost for the performance shares issued in 2017 and 2016 is as follows for the three months ended March 31, 2017 : Performance shares 2017 2016 Fair value per share at date of grant $ 79.28 $ 57.25 Average attainment rate reflected in expense 169.95 % 39.91 % 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. Stock-based compensation is reported within selling, general and administrative expenses in the accompanying unaudited 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, 2017 2016 Pre-tax stock-based compensation expense $ 12,805 $ 11,387 Tax benefit (4,554 ) (4,050 ) Total stock-based compensation expense, net of tax $ 8,251 $ 7,337 On January 1, 2017, the Company adopted ASU 2016-09, Compensation: Stock Compensation (Topic 718). See Note 18 — Recent Accounting Pronouncements for further details.

Commitments and Contingent Liab

Commitments and Contingent Liabilities	3 Months Ended
	Mar. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingent Liabilities	12. 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 that provide for the allocation of such costs among "potentially responsible parties." In each instance, the extent of the Company’s liability appears to be very small 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 reserves have been established. At March 31, 2017 , and December 31, 2016 , the Company has reserves totaling $30,018 and $29,959 , respectively, for environmental and other matters, including private party claims for exposure to hazardous substances that are probable and estimable. The Company and certain 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 the availability and extent of insurance coverage. The Company has reserves for legal matters that are probable and estimable and not otherwise covered by insurance, and at March 31, 2017 and December 31, 2016 , these reserves were not significant. 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. Warranty Accruals Estimated warranty program claims are provided for at the time of sale. Amounts provided for are based on historical costs and adjusted for new claims. The changes in the carrying amount of product warranties through March 31, 2017 and 2016 were as follows: 2017 2016 Beginning Balance, December 31 of the Prior Year $ 84,997 $ 44,466 Provision for warranties 18,202 14,031 Settlements made (17,633 ) (12,462 ) Other adjustments, including acquisitions and currency translation 805 4,666 Ending Balance, March 31 $ 86,371 $ 50,701 During the fourth quarter of 2016, the Company determined that there was a quality issue with a product component part in the Fluids segment and voluntarily reported this issue to the U.S. Consumer Product Safety Commission (“CPSC”). During the first quarter of 2017, the Company announced a voluntary recall of the product in collaboration with the CPSC. Based on the currently available information, at December 31, 2016, the Company recorded a warranty accrual of $23,150 in Other liabilities in the Consolidated Balance Sheet to cover the estimated costs of the recall. At March 31, 2017, the warranty accrual was reduced to $21,750 reflecting payments made against the accrual and was also reclassed from a non-current liability to a current liability.

Employee Benefit Plans

Employee Benefit Plans	3 Months Ended
	Mar. 31, 2017
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]
Employee Benefit Plans	13. Employee Benefit Plans Retirement Plans The Company offers defined contribution retirement plans which cover the majority of its U.S. employees, as well as employees in certain other countries. In addition, the Company sponsors qualified defined benefit pension plans covering certain employees of the Company and its subsidiaries. The plans’ benefits are generally based on years of service and employee compensation. The Company also provides to certain management employees, through non-qualified plans, supplemental retirement benefits in excess of qualified plan limits imposed by federal tax law. The following tables set forth the components of the Company’s net periodic expense relating to retirement benefit plans: Qualified Defined Benefits Three Months Ended March 31, U.S. Plan Non-U.S. Plans 2017 2016 2017 2016 Service cost $ 3,021 $ 3,478 $ 1,317 $ 1,373 Interest cost 5,429 5,762 1,264 1,375 Expected return on plan assets (9,953 ) (9,698 ) (1,804 ) (1,948 ) Amortization: Prior service cost (credit) 107 183 (110 ) (99 ) Recognized actuarial loss 1,396 1,609 841 665 Transition obligation — — 1 1 Net periodic expense $ — $ 1,334 $ 1,509 $ 1,367 Non-Qualified Supplemental Benefits Three Months Ended March 31, 2017 2016 Service cost $ 618 $ 740 Interest cost 1,019 1,317 Amortization: Prior service cost 1,102 1,567 Recognized actuarial gain (298 ) (140 ) Net periodic expense $ 2,441 $ 3,484 Post-Retirement Benefit Plans The Company also maintains post-retirement benefit plans, although these plans are closed to new entrants. The supplemental and post retirement benefit plans are supported by the general assets of the Company. The following table sets forth the components of the Company’s net periodic expense relating to its post-retirement benefit plans: Three Months Ended March 31, 2017 2016 Service cost $ 8 $ 13 Interest cost 73 105 Amortization: Prior service cost (credit) 2 (36 ) Recognized actuarial gain (40 ) (59 ) Net periodic expense $ 43 $ 23 The total amount amortized out of accumulated other comprehensive earnings into net periodic pension and post-retirement expense totaled $3,001 and $3,691 for the three months ended March 31, 2017 and 2016 , respectively. Defined Contribution Retirement Plans The Company also offers defined contribution retirement plans which cover the majority of its U.S. employees, as well as employees in certain other countries. The Company’s expense relating to defined contribution plans was $11,358 , and $9,808 for the three months ended March 31, 2017 and 2016 , respectively.

Other Comprehensive Earnings

Other Comprehensive Earnings	3 Months Ended
	Mar. 31, 2017
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Other Comprehensive Earnings	14. Other Comprehensive Earnings The amounts recognized in other comprehensive earnings (loss) were as follows: Three Months Ended Three Months Ended March 31, 2017 March 31, 2016 Pre-tax Tax Net of tax Pre-tax Tax Net of tax Foreign currency translation adjustments $ 33,090 $ 10,682 $ 43,772 $ 6,611 $ 2,158 $ 8,769 Pension and other postretirement benefit plans 3,001 (961 ) 2,040 3,691 (1,241 ) 2,450 Changes in fair value of cash flow hedges (213 ) 74 (139 ) (147 ) 51 (96 ) Other 383 (46 ) 337 2,090 (251 ) 1,839 Total other comprehensive earnings $ 36,261 $ 9,749 $ 46,010 $ 12,245 $ 717 $ 12,962 Total comprehensive earnings were as follows: Three Months Ended March 31, 2017 2016 Net earnings $ 172,247 $ 99,356 Other comprehensive earnings 46,010 12,962 Comprehensive earnings $ 218,257 $ 112,318 Amounts reclassified from accumulated other comprehensive (loss) to earnings during the three months ended March 31, 2017 and 2016 were as follows: Three Months Ended March 31, 2017 2016 Foreign currency translation: Reclassification of foreign currency translation losses to earnings from sale of subsidiary $ 3,875 $ — Tax benefit — — Net of tax $ 3,875 $ — Pension and other postretirement benefit plans: Amortization of actuarial losses $ 1,899 $ 2,076 Amortization of prior service costs 1,102 1,615 Total before tax 3,001 3,691 Tax benefit (961 ) (1,241 ) Net of tax $ 2,040 $ 2,450 Cash flow hedges: Net gains reclassified into earnings $ (334 ) $ (72 ) Tax benefit 117 25 Net of tax $ (217 ) $ (47 ) The Company recognizes net periodic pension cost, which includes amortization of net actuarial losses and prior service costs, in both selling, general and administrative expenses and cost of goods and services, depending on the functional area of the underlying employees included in the plans. 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, cost of goods and services, or selling, general and administrative expenses.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
Segment Information	15. Segment Information The Company categorizes its operating companies into four distinct reportable segments. Segment financial information and a reconciliation of segment results to consolidated results is as follows: Three Months Ended March 31, 2017 2016 Revenue: Energy $ 324,088 $ 283,230 Engineered Systems 607,635 576,995 Fluids 525,195 399,062 Refrigeration & Food Equipment 356,834 363,252 Intra-segment eliminations (380 ) (266 ) Total consolidated revenue $ 1,813,372 $ 1,622,273 Earnings: Segment earnings: (1) Energy $ 41,691 $ 11,244 Engineered Systems 174,398 93,748 Fluids 52,639 46,047 Refrigeration & Food Equipment 33,562 38,161 Total segment earnings 302,290 189,200 Corporate expense / other (2) 36,489 29,862 Interest expense 36,409 33,318 Interest income (2,580 ) (1,604 ) Earnings before provision for income taxes 231,972 127,624 Provision for income taxes 59,725 28,268 Net earnings $ 172,247 $ 99,356 (1) Segment earnings includes non-operating income and expense directly attributable to the segments. Non-operating income and expense includes gain on sale of businesses and other income, net. (2) 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 and various administrative expenses relating to the corporate headquarters.

Share Repurchases

Share Repurchases	3 Months Ended
	Mar. 31, 2017
Stockholders' Equity Note [Abstract]
Share repurchases	16. Share Repurchases In January 2015, the Board of Directors approved a standing share repurchase authorization, whereby the Company may repurchase up to 15,000,000 shares of its common stock over the following three years. This plan replaced all previously authorized repurchase programs. During the three months ended March 31, 2017 and 2016 , the Company repurchased no shares of common stock under the January 2015 authorization. As of March 31, 2017 , there were 6,771,458 shares available for repurchase under the authorization.

Earnings per Share

Earnings per Share	3 Months Ended
	Mar. 31, 2017
Earnings Per Share [Abstract]
Earnings Per Share	17. 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, 2017 2016 Net earnings $ 172,247 $ 99,356 Basic earnings per common share: Net earnings $ 1.11 $ 0.64 Weighted average shares outstanding 155,540,000 155,064,000 Diluted earnings per common share: Net earnings $ 1.09 $ 0.64 Weighted average shares outstanding 157,399,000 156,161,000 The following table is a reconciliation of the share amounts used in computing earnings per share: Three Months Ended March 31, 2017 2016 Weighted average shares outstanding - Basic 155,540,000 155,064,000 Dilutive effect of assumed exercise of employee stock options and SARs and vesting of performance shares 1,859,000 1,097,000 Weighted average shares outstanding - Diluted 157,399,000 156,161,000 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 restricted shares, as determined using the treasury stock method. The weighted average number of anti-dilutive potential common shares are excluded from the calculation above. There were no anti-dilutive shares for the three months ended March 31, 2017 , and 27,000 for the three months ended March 31, 2016 .

Recent Accounting Standards

Recent Accounting Standards	3 Months Ended
	Mar. 31, 2017
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Recent Accounting Standards	18. Recent Accounting Pronouncements Recently Issued Accounting Standards The following standards, issued by the Financial Accounting Standards Board ("FASB"), will, or are expected to, result in a change in practice and/or have a financial impact to the Company’s Consolidated Financial Statements: In January 2017, the FASB issued ASU 2017-01, Business combinations (Topic 805): Clarifying the definition of a business, which clarifies the definition of a business and assists entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. Under this guidance, when substantially all of the fair value of gross assets acquired is concentrated in a single asset (or group of similar assets), the assets acquired would not represent a business. In addition, in order to be considered a business, an acquisition would have to include at a minimum an input and a substantive process that together significantly contribute to the ability to create an output. The amended guidance also narrows the definition of outputs by more closely aligning it with how outputs are described in FASB guidance for revenue recognition. This guidance is effective for interim and annual periods for the Company on January 1, 2018, with early adoption permitted. The Company does not expect the adoption of this ASU to have a material impact on its Consolidated Financial Statements. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), which amends existing guidance to require lessees to recognize assets and liabilities on the balance sheet for the rights and obligations created by long-term leases and to disclose additional quantitative and qualitative information about leasing arrangements. This ASU also provides clarifications surrounding the presentation of the effects of leases in the income statement and statement of cash flows. This guidance will be effective for the Company on January 1, 2019. The Company is currently evaluating this guidance and the impact it will have on its Consolidated Financial Statements. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606). The guidance introduces a new five-step revenue recognition model in which an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This ASU also requires disclosures sufficient to enable users to understand the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers, including qualitative and quantitative disclosures about contracts with customers, significant judgments and changes in judgments and assets recognized from the costs to obtain or fulfill a contract. This guidance will be effective for the Company on January 1, 2018. The Company commenced its assessment of ASU 2014-09 during the second half of 2015 and developed a project plan to guide the implementation. This project plan includes analyzing the ASU’s impact on the Company's contract portfolio, comparing its historical accounting policies and practices to the requirements of the new guidance and identifying potential differences from applying the requirements of the new guidance to its contracts. The Company is also in the process of drafting an updated accounting policy, evaluating new disclosure requirements and identifying and implementing appropriate changes to its business processes, systems and controls to support recognition and disclosure under the new guidance. The Company expects to adopt this new guidance using the modified retrospective method that will result in a cumulative effect adjustment as of the date of adoption. The Company is currently evaluating this guidance and the impact it will have on its Consolidated Financial Statements. Recently Adopted Accounting Standards In January 2017, the FASB issued ASU 2017-04, Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. The amended guidance simplifies the accounting for goodwill impairment for all entities by eliminating the requirement to perform a hypothetical purchase price allocation. A goodwill impairment charge will now be recognized for the amount by which the carrying value of a reporting unit exceeds its fair value, not to exceed the carrying amount of goodwill. The Company early adopted this guidance on January 1, 2017 as its annual impairment test is performed after January 1, 2017. The adoption of this ASU is not expected to have a material impact on the Company's Consolidated Financial Statements. In March 2016, the FASB issued ASU 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. The ASU changes how companies account for certain aspects of share-based payment awards to employees, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as the classification of related matters in the statement of cash flows. The adoption of the new standard resulted in the recognition of excess tax benefits in our provision for income taxes within the Condensed Consolidated Statements of Earnings rather than paid-in capital of $3,346 for the three months ended March 31, 2017 . Additionally, our Condensed Consolidated Statement of Cash Flows now present excess tax benefits as an operating activity, adjusted prospectively. Finally, the Company elected to continue to estimate forfeitures based on historical data and recognizes forfeiture compensation expense over the vesting period of the award. The Company adopted this guidance on January 1, 2017. In July 2015, the FASB issued ASU 2015-11, Inventory (Topic 340): Simplifying the Measurement of Inventory. Under this guidance, entities utilizing the FIFO or average cost method should measure inventory at the lower of cost or net realizable value, whereas net realizable value is defined as the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. The Company adopted this guidance on January 1, 2017. The adoption of this ASU did not have a material impact to the Company's Consolidated Financial Statements.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2017
Subsequent Event [Line Items]
Subsequent Events [Text Block]	19. Subsequent Event On April 5, 2017, the Company acquired Caldera Graphics S.A.S., a company with experience in the digital printing industry, for approximately €35.0 million (approximately $37.0 million ). The acquisition enhances the Company's ability to serve the global digital textile printing market with its experience in developing, marketing and supporting high-quality technical software for the digital printing industry. Caldera will be included in the Printing and Identification platform within the Engineered Systems segment.

Acquisitions (Tables)

Acquisitions (Tables)	3 Months Ended
	Mar. 31, 2017
Business Combinations [Abstract]
Pro forma results of operations	The following unaudited pro forma information illustrates the impact of 2016 acquisitions on the Company’s revenue and earnings from operations for the three months ended March 31, 2017 and 2016 , respectively. In 2016, the Company acquired six businesses in separate transactions for total net consideration of $1,562 million . During the measurement period, we recorded working capital adjustments which resulted in final net cash consideration of $1,559 million . The pro forma information assumes that the 2016 acquisitions had taken place at the beginning of the prior year. Pro forma earnings are also adjusted to reflect the comparable impact of additional depreciation and amortization expense, net of tax, resulting from the fair value measurement of tangible and intangible assets relating to the year of acquisition. The proforma effects for the three months ended March 31, 2017 and 2016 were as follows: Three Months Ended March 31, 2017 2016 Revenue: As reported $ 1,813,372 $ 1,622,273 Pro forma 1,813,372 1,820,228 Earnings: As reported $ 172,247 $ 99,356 Pro forma 172,247 110,690 Basic earnings per share: As reported $ 1.11 $ 0.64 Pro forma 1.11 0.71 Diluted earnings per share: As reported $ 1.09 $ 0.64 Pro forma 1.09 0.71

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2017
Inventory, Net [Abstract]
Components of Inventory	March 31, 2017 December 31, 2016 Raw materials $ 475,708 $ 428,286 Work in progress 157,653 138,652 Finished goods 418,775 409,314 Subtotal 1,052,136 976,252 Less reserves (109,960 ) (105,765 ) Total $ 942,176 $ 870,487

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	3 Months Ended
	Mar. 31, 2017
Property, Plant and Equipment [Abstract]
Components of property, plant and equipment, net	March 31, 2017 December 31, 2016 Land $ 69,187 $ 68,575 Buildings and improvements 601,612 597,523 Machinery, equipment and other 1,815,260 1,802,832 Property, plant and equipment, gross 2,486,059 2,468,930 Total accumulated depreciation (1,539,683 ) (1,523,260 ) Property, plant and equipment, net $ 946,376 $ 945,670

Goodwill and Other Intangible31

Goodwill and Other Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2017
Goodwill [Line Items]
Goodwill	The changes in the carrying value of goodwill by reportable operating segments were as follows: Energy Engineered Systems Fluids Refrigeration & Food Equipment Total Balance at December 31, 2016 $ 1,045,774 $ 1,567,216 $ 1,413,508 $ 536,179 $ 4,562,677 Purchase price adjustments — (5,313 ) (44,785 ) — (50,098 ) Disposition of business — (27,793 ) — — (27,793 ) Foreign currency translation 941 22,030 765 198 23,934 Balance at March 31, 2017 $ 1,046,715 $ 1,556,140 $ 1,369,488 $ 536,377 $ 4,508,720
Schedule of Intangible Assets	March 31, 2017 December 31, 2016 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortized intangible assets: Customer intangibles $ 1,967,835 $ 759,061 $ 1,208,774 $ 1,942,974 $ 718,135 $ 1,224,839 Trademarks 247,013 60,910 186,103 246,619 56,455 190,164 Patents 158,538 122,633 35,905 157,491 119,828 37,663 Unpatented technologies 157,146 68,791 88,355 155,752 64,648 91,104 Distributor relationships 119,267 47,344 71,923 113,463 44,914 68,549 Drawings & manuals 38,803 24,518 14,285 37,744 23,114 14,630 Other 33,037 21,866 11,171 31,632 21,184 10,448 Total 2,721,639 1,105,123 1,616,516 2,685,675 1,048,278 1,637,397 Unamortized intangible assets: Trademarks 165,591 — 165,591 165,526 — 165,526 Total intangible assets, net $ 2,887,230 $ 1,105,123 $ 1,782,107 $ 2,851,201 $ 1,048,278 $ 1,802,923

Restructuring Activities (Table

Restructuring Activities (Tables)	3 Months Ended
	Mar. 31, 2017
Restructuring [Abstract]
Schedule of Restructuring and Related Costs	The Company's restructuring charges by segment were as follows: Three Months Ended March 31, 2017 2016 Energy $ 185 $ 6,416 Engineered Systems 1,064 1,967 Fluids 3,251 5,226 Refrigeration & Food Equipment 1,513 21 Corporate — 757 Total $ 6,013 $ 14,387 These amounts are classified in the unaudited Condensed Consolidated Statements of Earnings as follows: Cost of goods and services $ 4,071 $ 5,851 Selling, general and administrative expenses 1,942 8,536 Total $ 6,013 $ 14,387
Schedule of Restructuring Reserve by Type of Cost	The Company’s severance and exit accrual activities were as follows: Severance Exit Total Balance at December 31, 2016 $ 10,908 $ 1,439 $ 12,347 Restructuring charges 4,686 1,327 6,013 Payments (7,514 ) (1,196 ) (8,710 ) Foreign currency translation 212 35 247 Other, including write-offs of fixed assets (627 ) (301 ) (928 ) Balance at March 31, 2017 $ 7,665 $ 1,304 $ 8,969

Borrowings (Tables)

Borrowings (Tables)	3 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Schedule of Short-term Debt	Borrowings consisted of the following: March 31, 2017 December 31, 2016 Short-term Current portion of long-term debt and short-term borrowings $ 357,126 $ 6,950 Commercial paper 391,300 407,600 Notes payable and current maturities of long-term debt $ 748,426 $ 414,550
Schedule of Long-term Debt Instruments	Carrying amount (1) Principal March 31, 2017 December 31, 2016 Long-term 5.45% 10-year notes due March 15, 2018 $ 350,000 $ 349,623 $ 349,502 2.125% 7-year notes due December 1, 2020 (euro-denominated) 323,957 322,207 311,851 4.30% 10-year notes due March 1, 2021 450,000 448,554 448,458 3.150% 10-year notes due November 15, 2025 400,000 394,189 394,042 1.25% 10-year notes due November 9, 2026 (euro-denominated) 647,913 637,200 616,893 6.65% 30-year debentures due June 1, 2028 200,000 198,879 198,830 5.375% 30-year debentures due October 15, 2035 300,000 295,374 295,316 6.60% 30-year notes due March 15, 2038 250,000 247,628 247,593 5.375% 30-year notes due March 1, 2041 350,000 343,393 343,323 Other 1,716 1,969 Total debt 3,238,763 3,207,777 Less long-term debt current portion (350,801 ) (1,140 ) Net long-term debt $ 2,887,962 $ 3,206,637

Financial Instruments (Tables)

Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair value of derivative instruments and the balance sheet lines in which they are recorded	The following table sets forth the fair values of derivative instruments held by the Company as of March 31, 2017 , and December 31, 2016 and the balance sheet lines in which they are recorded: Fair Value Asset (Liability) March 31, 2017 December 31, 2016 Balance Sheet Caption Foreign currency forward $ 665 $ 1,058 Prepaid / Other assets Foreign currency forward (700 ) (705 ) Other accrued expenses
Schedule of net investment hedges in accumulated other comprehensive income (loss)	Three Months Ended March 31, 2017 2016 Loss on euro-denominated debt $ (30,521 ) $ (6,165 ) Tax benefit 10,682 2,158 Net loss on net investment hedges, net of tax $ (19,839 ) $ (4,007 )
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, 2017 and December 31, 2016 : March 31, 2017 December 31, 2016 Level 2 Level 2 Assets: Foreign currency cash flow hedges $ 665 $ 1,058 Liabilities: Foreign currency cash flow hedges 700 705

Equity Incentive Program (Table

Equity Incentive Program (Tables)	3 Months Ended
	Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based incentive plans compensation expense	Stock-based compensation is reported within selling, general and administrative expenses in the accompanying unaudited 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, 2017 2016 Pre-tax stock-based compensation expense $ 12,805 $ 11,387 Tax benefit (4,554 ) (4,050 ) Total stock-based compensation expense, net of tax $ 8,251 $ 7,337 On January 1, 2017, the Company adopted ASU 2016-09, Compensation: Stock Compensation (Topic 718). See Note 18 — Recent Accounting Pronouncements for further details.
Stock Appreciation Rights (SARs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Valuation assumptions	SARs 2017 2016 Risk-free interest rate 1.80 % 1.05 % Dividend yield 2.27 % 3.09 % Expected life (years) 4.6 4.6 Volatility 21.90 % 26.17 % Grant price $ 79.28 $ 57.25 Fair value per share at date of grant $ 12.63 $ 9.25
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Valuation assumptions	Performance shares 2017 2016 Fair value per share at date of grant $ 79.28 $ 57.25 Average attainment rate reflected in expense 169.95 % 39.91 %

Commitments and Contingent Li36

Commitments and Contingent Liabilities (Tables)	3 Months Ended
	Mar. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Schedule of Product Warranty Liability	Estimated warranty program claims are provided for at the time of sale. Amounts provided for are based on historical costs and adjusted for new claims. The changes in the carrying amount of product warranties through March 31, 2017 and 2016 were as follows: 2017 2016 Beginning Balance, December 31 of the Prior Year $ 84,997 $ 44,466 Provision for warranties 18,202 14,031 Settlements made (17,633 ) (12,462 ) Other adjustments, including acquisitions and currency translation 805 4,666 Ending Balance, March 31 $ 86,371 $ 50,701

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	3 Months Ended
	Mar. 31, 2017
Defined benefit pension plans
Defined Benefit Plan Disclosure [Line Items]
Schedule of Defined Benefit Plans Disclosures	Three Months Ended March 31, U.S. Plan Non-U.S. Plans 2017 2016 2017 2016 Service cost $ 3,021 $ 3,478 $ 1,317 $ 1,373 Interest cost 5,429 5,762 1,264 1,375 Expected return on plan assets (9,953 ) (9,698 ) (1,804 ) (1,948 ) Amortization: Prior service cost (credit) 107 183 (110 ) (99 ) Recognized actuarial loss 1,396 1,609 841 665 Transition obligation — — 1 1 Net periodic expense $ — $ 1,334 $ 1,509 $ 1,367
Supplemental Employee Retirement Plans, Defined Benefit [Member]
Defined Benefit Plan Disclosure [Line Items]
Schedule of Defined Benefit Plans Disclosures	Three Months Ended March 31, 2017 2016 Service cost $ 618 $ 740 Interest cost 1,019 1,317 Amortization: Prior service cost 1,102 1,567 Recognized actuarial gain (298 ) (140 ) Net periodic expense $ 2,441 $ 3,484
Post-Retirement Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Schedule of Defined Benefit Plans Disclosures	Three Months Ended March 31, 2017 2016 Service cost $ 8 $ 13 Interest cost 73 105 Amortization: Prior service cost (credit) 2 (36 ) Recognized actuarial gain (40 ) (59 ) Net periodic expense $ 43 $ 23

Other Comprehensive Earnings (T

Other Comprehensive Earnings (Tables)	3 Months Ended
	Mar. 31, 2017
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Components of other comprehensive income	The amounts recognized in other comprehensive earnings (loss) were as follows: Three Months Ended Three Months Ended March 31, 2017 March 31, 2016 Pre-tax Tax Net of tax Pre-tax Tax Net of tax Foreign currency translation adjustments $ 33,090 $ 10,682 $ 43,772 $ 6,611 $ 2,158 $ 8,769 Pension and other postretirement benefit plans 3,001 (961 ) 2,040 3,691 (1,241 ) 2,450 Changes in fair value of cash flow hedges (213 ) 74 (139 ) (147 ) 51 (96 ) Other 383 (46 ) 337 2,090 (251 ) 1,839 Total other comprehensive earnings $ 36,261 $ 9,749 $ 46,010 $ 12,245 $ 717 $ 12,962
Schedule of comprehensive income (loss)	Total comprehensive earnings were as follows: Three Months Ended March 31, 2017 2016 Net earnings $ 172,247 $ 99,356 Other comprehensive earnings 46,010 12,962 Comprehensive earnings $ 218,257 $ 112,318
Schedule of amounts reclassified from accumulated other comprehensive income (loss) to earnings	Amounts reclassified from accumulated other comprehensive (loss) to earnings during the three months ended March 31, 2017 and 2016 were as follows: Three Months Ended March 31, 2017 2016 Foreign currency translation: Reclassification of foreign currency translation losses to earnings from sale of subsidiary $ 3,875 $ — Tax benefit — — Net of tax $ 3,875 $ — Pension and other postretirement benefit plans: Amortization of actuarial losses $ 1,899 $ 2,076 Amortization of prior service costs 1,102 1,615 Total before tax 3,001 3,691 Tax benefit (961 ) (1,241 ) Net of tax $ 2,040 $ 2,450 Cash flow hedges: Net gains reclassified into earnings $ (334 ) $ (72 ) Tax benefit 117 25 Net of tax $ (217 ) $ (47 )

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
Revenue and earnings from continuing operations by market segment	Three Months Ended March 31, 2017 2016 Revenue: Energy $ 324,088 $ 283,230 Engineered Systems 607,635 576,995 Fluids 525,195 399,062 Refrigeration & Food Equipment 356,834 363,252 Intra-segment eliminations (380 ) (266 ) Total consolidated revenue $ 1,813,372 $ 1,622,273 Earnings: Segment earnings: (1) Energy $ 41,691 $ 11,244 Engineered Systems 174,398 93,748 Fluids 52,639 46,047 Refrigeration & Food Equipment 33,562 38,161 Total segment earnings 302,290 189,200 Corporate expense / other (2) 36,489 29,862 Interest expense 36,409 33,318 Interest income (2,580 ) (1,604 ) Earnings before provision for income taxes 231,972 127,624 Provision for income taxes 59,725 28,268 Net earnings $ 172,247 $ 99,356 (1) Segment earnings includes non-operating income and expense directly attributable to the segments. Non-operating income and expense includes gain on sale of businesses and other income, net. (2) 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 and various administrative expenses relating to the corporate headquarters.

Earnings per Share (Tables)

Earnings per Share (Tables)	3 Months Ended
	Mar. 31, 2017
Earnings Per Share [Abstract]
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, 2017 2016 Net earnings $ 172,247 $ 99,356 Basic earnings per common share: Net earnings $ 1.11 $ 0.64 Weighted average shares outstanding 155,540,000 155,064,000 Diluted earnings per common share: Net earnings $ 1.09 $ 0.64 Weighted average shares outstanding 157,399,000 156,161,000
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, 2017 2016 Weighted average shares outstanding - Basic 155,540,000 155,064,000 Dilutive effect of assumed exercise of employee stock options and SARs and vesting of performance shares 1,859,000 1,097,000 Weighted average shares outstanding - Diluted 157,399,000 156,161,000

Acquisitions (Details)

Acquisitions (Details) $ / shares in Units, $ in Thousands, € in Millions	Apr. 05, 2017USD ($)	Apr. 05, 2017EUR (€)	Mar. 31, 2017USD ($)$ / shares	Mar. 31, 2016USD ($)$ / shares	Dec. 31, 2016USD ($)
Business Acquisition [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired			$ 0	$ 436,058
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net					$ 1,562,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Business Combination, Assets and Liabilities Arising from Contingencies, Amount Recognized, Net					$ 1,559,000
Revenue [Abstract]
As reported			1,813,372	1,622,273
Pro forma			1,813,372	1,820,228
Net earnings [Abstract]
As reported			172,247	99,356
Pro forma			$ 172,247	$ 110,690
Basic earnings per share [Abstract]
As reported (in dollars per share) | $ / shares			$ 1.11	$ 0.64
Pro forma (in dollars per share) | $ / shares			1.11	0.71
Diluted earnings per share [Abstract]
As reported (in dollars per share) | $ / shares			1.09	0.64
Pro forma (in dollars per share) | $ / shares			$ 1.09	$ 0.71
Caldera Graphics [Member]
Business Acquisition [Line Items]
Payments to Acquire Businesses, Gross	$ 37,000	€ 35
Business Combination, Acquisition of 100 Percent, Voting Rights	100.00%	100.00%
Tokheim Group S.A.S. [Member]
Business Acquisition [Line Items]
Payments to Acquire Businesses, Gross				$ 417,238

Discontinued Operations (Detail

Discontinued Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of businesses	$ 120,397	$ 47,300
Performance Motorsports International [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from Sale of Notes Receivable	10,000
Proceeds from sale of businesses	147,313
Proceeds from Divestiture of Businesses, Net of Cash Divested	118,706
Gain on sale of business	$ 88,402
non-controlling interest	25.00%
Noncontrolling Interest, Increase from Sale of Parent Equity Interest	$ 18,607
Texas Hydraulics [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of businesses		47,300
Gain on sale of business		$ 11,228

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Inventory, Net [Abstract]
Raw materials	$ 475,708	$ 428,286
Work in progress	157,653	138,652
Finished goods	418,775	409,314
Subtotal	1,052,136	976,252
Less reserves	(109,960)	(105,765)
Total	$ 942,176	$ 870,487

Property, Plant and Equipment44

Property, Plant and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Property, Plant and Equipment [Line Items]
Cost	$ 2,486,059		$ 2,468,930
Accumulated depreciation	(1,539,683)		(1,523,260)
Total	946,376		945,670
Depreciation expense	44,718	$ 45,029
Land [Member]
Property, Plant and Equipment [Line Items]
Cost	69,187		68,575
Buildings and improvements [Member]
Property, Plant and Equipment [Line Items]
Cost	601,612		597,523
Machinery, equipment and other [Member]
Property, Plant and Equipment [Line Items]
Cost	$ 1,815,260		$ 1,802,832

Goodwill and Other Intangible45

Goodwill and Other Intangible Assets - Goodwill (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Goodwill [Roll Forward]
Balance	$ 4,508,720	$ 4,562,677
Purchase price adjustments	(50,098)
Business disposition	(27,793)
Foreign currency translation	23,934
Balance	$ 4,508,720	$ 4,562,677
Number of Reporting Units	10	9
Energy Segment [Member]
Goodwill [Roll Forward]
Balance	$ 1,046,715	$ 1,045,774
Purchase price adjustments	0
Business disposition	0
Foreign currency translation	941
Balance	1,046,715	1,045,774
Engineered Systems Segment [Member]
Goodwill [Roll Forward]
Balance	1,556,140	1,567,216
Purchase price adjustments	(5,313)
Business disposition	(27,793)
Foreign currency translation	22,030
Balance	1,556,140	1,567,216
Fluids Segment [Member]
Goodwill [Roll Forward]
Balance	1,369,488	1,413,508
Purchase price adjustments	(44,785)
Business disposition	0
Foreign currency translation	765
Balance	1,369,488	1,413,508
Refrigeration and Food Equipment Segment [Member]
Goodwill [Roll Forward]
Balance	536,377	536,179
Purchase price adjustments	0
Business disposition	0
Foreign currency translation	198
Balance	$ 536,377	$ 536,179

Goodwill and Other Intangible46

Goodwill and Other Intangible Assets - Intangible Assets and Amortization Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	$ 2,721,639		$ 2,685,675
Accumulated amortization	1,105,123		1,048,278
Finite-Lived Intangible Assets, Net	1,616,516		1,637,397
Indefinite-Lived Intangible Assets (Excluding Goodwill)	165,591		165,526
Intangible Assets, Gross (Excluding Goodwill)	2,887,230		2,851,201
Amortization expense	50,880	$ 43,574
Intangible assets, net	1,782,107		1,802,923
Trademarks [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	247,013		246,619
Accumulated amortization	60,910		56,455
Finite-Lived Intangible Assets, Net	186,103		190,164
Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	158,538		157,491
Accumulated amortization	122,633		119,828
Finite-Lived Intangible Assets, Net	35,905		37,663
Customer Intangibles [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	1,967,835		1,942,974
Accumulated amortization	759,061		718,135
Finite-Lived Intangible Assets, Net	1,208,774		1,224,839
Unpatented Technologies [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	157,146		155,752
Accumulated amortization	68,791		64,648
Finite-Lived Intangible Assets, Net	88,355		91,104
Drawings and Manuals [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	38,803		37,744
Accumulated amortization	24,518		23,114
Finite-Lived Intangible Assets, Net	14,285		14,630
Distributor Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	119,267		113,463
Accumulated amortization	47,344		44,914
Finite-Lived Intangible Assets, Net	71,923		68,549
Other Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	33,037		31,632
Accumulated amortization	21,866		21,184
Finite-Lived Intangible Assets, Net	11,171		10,448
Trademarks [Member]
Finite-Lived Intangible Assets [Line Items]
Accumulated amortization	0		0
Indefinite-Lived Intangible Assets (Excluding Goodwill)	$ 165,591		$ 165,526

Goodwill and Other Intangible47

Goodwill and Other Intangible Assets - Indefinite-lived Intangibles (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Unamortized Intangible Assets [Abstract]
Gross carrying amount	$ 165,591	$ 165,526
Trademarks [Member]
Unamortized Intangible Assets [Abstract]
Gross carrying amount	$ 165,591	$ 165,526

Restructuring Activities (Detai

Restructuring Activities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 6,013	$ 14,387
Restructuring Reserve [Roll Forward]
Severance and other restructuring reserve, beginning balance	12,347
Provision	6,013
Payments	(8,710)
Foreign currency translation	247
Other, including write-offs of fixed assets	(928)
Severance and other restructuring reserve, ending balance	8,969
Energy Segment [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	185	6,416
Engineered Systems Segment [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	1,064	1,967
Fluids Segment [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	3,251	5,226
Refrigeration and Food Equipment Segment [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	1,513	21
Corporate, Non-Segment [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	757
Employee Severance [Member]
Restructuring Reserve [Roll Forward]
Severance and other restructuring reserve, beginning balance	10,908
Provision	4,686
Payments	(7,514)
Foreign currency translation	212
Other, including write-offs of fixed assets	(627)
Severance and other restructuring reserve, ending balance	7,665
Facility Closing [Member]
Restructuring Reserve [Roll Forward]
Severance and other restructuring reserve, beginning balance	1,439
Provision	1,327
Payments	(1,196)
Foreign currency translation	35
Other, including write-offs of fixed assets	(301)
Severance and other restructuring reserve, ending balance	1,304
Cost of Sales [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	4,071	5,851
Selling, General and Administrative Expenses [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 1,942	$ 8,536

Borrowings (Details)

Borrowings (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Debt, Long-term and Short-term, Combined Amount	$ 357,126	$ 6,950
Debt Instrument, Unamortized Discount	18,200	18,800
Letters of Credit Outstanding, Amount	136,500
Short-term borrowings [Abstract]
Commercial Paper	391,300	407,600
Debt, Current	748,426	414,550
Deferred Finance Costs, Own-share Lending Arrangement, Issuance Costs, Net	(16,300)	(16,500)
Long-term borrowings [Abstract]
Long-term debt	3,238,763	3,207,777
Long-term Debt, Current Maturities	(350,801)	(1,140)
Carrying amount of long-term debt	2,887,962	3,206,637
Line of Credit Facility [Abstract]
Unsecured revolving credit facility, maximum borrowing capacity	$ 1,000,000
Line of Credit Facility, Covenant Compliance	The Company was in compliance with all covenants in the Credit Agreement and other long-term debt covenants at March 31, 2017 and had a coverage ratio of 10.1 to 1.0.
Credit Agreement [Member]
Line of Credit Facility [Abstract]
Line of Credit Facility, Expiration Date	Nov. 10, 2020
Note due 2018 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 350,000
Long-term borrowings [Abstract]
Long-term debt	$ 349,623	349,502
Debt instruments, maturity date	Mar. 15, 2018
Debt instrument, stated interest rate (in hundredths)	5.45%
Term of debt instrument (in years)	10 years
Note due 2020 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 323,957
Long-term borrowings [Abstract]
Long-term debt	$ 322,207	311,851
Debt instruments, maturity date	Dec. 1, 2020
Debt instrument, stated interest rate (in hundredths)	2.125%
Term of debt instrument (in years)	7 years
Note due 2021 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 450,000
Long-term borrowings [Abstract]
Long-term debt	$ 448,554	448,458
Debt instruments, maturity date	Mar. 1, 2021
Debt instrument, stated interest rate (in hundredths)	4.30%
Term of debt instrument (in years)	10 years
Note due 2025 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 400,000
Long-term borrowings [Abstract]
Long-term debt	$ 394,189	394,042
Debt instruments, maturity date	Nov. 15, 2025
Debt instrument, stated interest rate (in hundredths)	3.15%
Term of debt instrument (in years)	10 years
Note due 2026 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 647,913
Long-term borrowings [Abstract]
Long-term debt	637,200	616,893
Debentures due 2028 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	200,000
Long-term borrowings [Abstract]
Long-term debt	$ 198,879	198,830
Debt instruments, maturity date	Jun. 1, 2028
Debt instrument, stated interest rate (in hundredths)	6.65%
Term of debt instrument (in years)	30 years
Debenture due 2035 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 300,000
Long-term borrowings [Abstract]
Long-term debt	$ 295,374	295,316
Debt instruments, maturity date	Oct. 15, 2035
Debt instrument, stated interest rate (in hundredths)	5.375%
Term of debt instrument (in years)	30 years
Note due 2038 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 250,000
Long-term borrowings [Abstract]
Long-term debt	$ 247,628	247,593
Debt instruments, maturity date	Mar. 15, 2038
Debt instrument, stated interest rate (in hundredths)	6.60%
Term of debt instrument (in years)	30 years
Note due 2041 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 350,000
Long-term borrowings [Abstract]
Long-term debt	$ 343,393	343,323
Debt instruments, maturity date	Mar. 1, 2041
Debt instrument, stated interest rate (in hundredths)	5.375%
Term of debt instrument (in years)	30 years
Other long term debt instruments [Member]
Long-term borrowings [Abstract]
Long-term debt	$ 1,716	$ 1,969
Minimum [Member]
Line of Credit Facility [Abstract]
Line of Credit Facility, Expiration Date	Dec. 31, 2017
Maximum [Member]
Line of Credit Facility [Abstract]
Line of Credit Facility, Expiration Date	Dec. 31, 2039

Financial Instruments (Details)

Financial Instruments (Details) $ in Thousands, € in Millions	3 Months Ended
	Mar. 31, 2017USD ($)	Mar. 31, 2016USD ($)	Mar. 31, 2017EUR (€)	Dec. 31, 2016USD ($)
Derivatives, Fair Value [Line Items]
Long-term debt	$ 2,887,962			$ 3,206,637
Loss on euro-denominated debt	(30,521)	$ (6,165)
Foreign currency translation adjustments, tax	10,682	2,158
Net loss on net investment hedge, net of tax	(19,839)	$ (4,007)
Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	104,133			59,932
Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	56,987			56,189
Foreign Exchange Forward [Member] | Designated as Hedging Instrument [Member] | Prepaid Expenses and Other Current Assets [Member]
Derivatives, Fair Value [Line Items]
Fair Value - Asset	665			1,058
Foreign Exchange Forward [Member] | Designated as Hedging Instrument [Member] | Other Accrued Expenses [Member]
Derivatives, Fair Value [Line Items]
Fair Value - Liability	700			$ 705
Note due 2026 [Member]
Derivatives, Fair Value [Line Items]
Debt Instrument, Face Amount	647,913
Note due 2026 [Member] | Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Debt Instrument, Face Amount | €			€ 600
Note due 2020 [Member]
Derivatives, Fair Value [Line Items]
Debt Instrument, Face Amount	$ 323,957
Note due 2020 [Member] | Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Debt Instrument, Face Amount | €			€ 300

Financial Instruments - Balance

Financial Instruments - Balance Sheet Location (Details) - Fair Value, Measurements, Recurring [Member] - Fair Value, Inputs, Level 2 [Member] - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Assets [Abstract]
Foreign currency cash flow hedges - asset	$ 665	$ 1,058
Liabilities [Abstract]
Foreign currency cash flow hedges - liability	$ 700	$ 705

Financial Instruments - Fair V

Financial Instruments - Fair Value Measurements (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term Debt	$ 3,238,763	$ 3,207,777
Estimate of Fair Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	3,189,216	3,534,553
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Foreign currency cash flow hedges - asset	665	1,058
Foreign currency cash flow hedges - liability	$ (700)	$ (705)

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Effective tax rate (in hundredths)	25.70%	22.10%
Employee Service Share-based Compensation, Tax Benefit Realized from Exercise of Stock Options	$ 3,346
Minimum [Member]
Significant change in unrecognized tax benefits is reasonably possible, estimated range of change, lower bound	$ 0
Maximum [Member]
Significant change in unrecognized tax benefits is reasonably possible, estimated range of change, lower bound			$ 17,905

Equity Incentive Program (Detai

Equity Incentive Program (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Stock-based compensation expense [Abstract]
Pre-tax stock-based compensation expense	$ 12,805	$ 11,387
Tax benefit	(4,554)	(4,050)
Total stock-based compensation expense, net of tax	$ 8,251	$ 7,337
Stock Appreciation Rights (SARs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued during period (in shares)	1,028,116
Risk-free interest rate (in hundredths)	1.80%	1.05%
Dividend yield (in hundredths)	2.27%	3.09%
Expected life (in years)	4 years 7 months	4 years 7 months
Volatility (in hundredths)	21.90%	26.17%
Grant price (in dollars per share)	$ 79.28	$ 57.25
Fair value at date of grant (in dollars per share)	$ 12.63	9.25
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued during period (in shares)	57,958
Fair value at date of grant (in dollars per share)	$ 79.28	$ 57.25
Performance share attainment	169.95%	39.91%
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued during period (in shares)	170,310

Commitments and Contingent Li55

Commitments and Contingent Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Accrual for environmental loss contingencies	$ 30,018		$ 29,959
Product Warranty Expense	21,750		23,150
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Beginning balance	84,997	$ 44,466	44,466
Provision for warranties	18,202	14,031
Settlements made	(17,633)	(12,462)
Other adjustments, including acquisitions and currency translation	805	4,666
Ending balance	$ 86,371	$ 50,701	$ 84,997

Employee Benefit Plans (Details

Employee Benefit Plans (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Net periodic benefit cost [Abstract]
Total amount amortized out of accumulated other comprehensive income	$ 3,001	$ 3,691
Defined contribution plan expense	11,358	9,808
U.S. Pension Plans, Defined Benefit [Member]
Net periodic benefit cost [Abstract]
Service cost	3,021	3,478
Interest cost	5,429	5,762
Expected return on plan assets	(9,953)	(9,698)
Prior service cost (credit)	107	183
Recognized actuarial gain	1,396	1,609
Transition obligation	0	0
Net periodic expense	0	1,334
Foreign Pension Plans, Defined Benefit [Member]
Net periodic benefit cost [Abstract]
Service cost	1,317	1,373
Interest cost	1,264	1,375
Expected return on plan assets	(1,804)	(1,948)
Prior service cost (credit)	(110)	(99)
Recognized actuarial gain	841	665
Transition obligation	1	1
Net periodic expense	1,509	1,367
Supplemental Employee Retirement Plans, Defined Benefit [Member]
Net periodic benefit cost [Abstract]
Service cost	618	740
Interest cost	1,019	1,317
Prior service cost (credit)	1,102	1,567
Recognized actuarial gain	(298)	(140)
Net periodic expense	2,441	3,484
Post-Retirement Benefits [Member]
Net periodic benefit cost [Abstract]
Service cost	8	13
Interest cost	73	105
Prior service cost (credit)	2	(36)
Recognized actuarial gain	(40)	(59)
Net periodic expense	$ 43	$ 23

Other Comprehensive Earnings (D

Other Comprehensive Earnings (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment from AOCI, Realized upon Sale or Liquidation, before Tax	$ 3,875	$ 0
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax	0	0
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment from AOCI, Realized upon Sale or Liquidation, Net of Tax	3,875	0
TranslationAdjustmentForNetInvestmentHedgeIncreaseDecrease	(30,521)	(6,165)
Foreign currency translation adjustments [Abstract]
Foreign currency translation adjustments, before tax	33,090	6,611
Foreign currency translation adjustments, tax	10,682	2,158
Total foreign currency translation adjustment	43,772	8,769
Pension and other postretirement benefit plans [Abstract]
Pension and other postretirement benefit plans, before tax	3,001	3,691
Pension and other postretirement benefit plans, tax	(961)	(1,241)
Total pension and other postretirement benefit plans	2,040	2,450
Changes in fair value of cash flow hedges [Abstract]
Changes in fair value of cash flow hedges, before tax	(213)	(147)
Changes in fair value of cash flow hedges, tax	74	51
Total cash flow hedges	(139)	(96)
Other comprehensive earnings other adjustment, net of tax [Abstract]
Other, before tax	383	2,090
Other, tax	(46)	(251)
Other	337	1,839
Total other comprehensive earnings [Abstract]
Other comprehensive earnings (loss), before Tax	36,261	12,245
Other comprehensive earnings (loss), tax	9,749	717
Other comprehensive earnings	46,010	12,962
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Net earnings	172,247	99,356
Other comprehensive earnings	46,010	12,962
Comprehensive earnings	218,257	112,318
Other Comprehensive Income Loss Reclassification Adjustment From AOCI Pension And Other Postretirement Benefit Plans Net Of Tax Abstract [Abstract]
Amortization of actuarial losses	1,899	2,076
Amortization of prior service costs	1,102	1,615
Total before tax	3,001	3,691
Tax provision	(961)	(1,241)
Net of tax	2,040	2,450
Other Comprehensive Income Loss Reclassification Adjustment From AOCI Derivatives Net of Tax [Abstract]
Cash flow hedges	(334)	(72)
Tax benefit	117	25
Net of tax	$ (217)	$ (47)

Segment Information (Details)

Segment Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2017USD ($)segments	Mar. 31, 2016USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | segments	4
Reconciliation from Segment Totals to Consolidated [Abstract]
Revenue	$ 1,813,372	$ 1,622,273
Reconciliation of Earnings from Continuing Operations from Segments to Consolidated [Abstract]
Interest Expense	36,409	33,318
Interest Income	2,580	1,604
Earnings before provision for income taxes	231,972	127,624
Provision for income taxes	59,725	28,268
Net earnings	172,247	99,356
Energy Segment [Member]
Reconciliation from Segment Totals to Consolidated [Abstract]
Revenue	324,088	283,230
Reconciliation of Earnings from Continuing Operations from Segments to Consolidated [Abstract]
Earnings before provision for income taxes	41,691	11,244
Engineered Systems Segment [Member]
Reconciliation from Segment Totals to Consolidated [Abstract]
Revenue	607,635	576,995
Reconciliation of Earnings from Continuing Operations from Segments to Consolidated [Abstract]
Earnings before provision for income taxes	174,398	93,748
Fluids Segment [Member]
Reconciliation from Segment Totals to Consolidated [Abstract]
Revenue	525,195	399,062
Reconciliation of Earnings from Continuing Operations from Segments to Consolidated [Abstract]
Earnings before provision for income taxes	52,639	46,047
Refrigeration and Food Equipment Segment [Member]
Reconciliation from Segment Totals to Consolidated [Abstract]
Revenue	356,834	363,252
Reconciliation of Earnings from Continuing Operations from Segments to Consolidated [Abstract]
Earnings before provision for income taxes	33,562	38,161
Intersegment Elimination [Member]
Reconciliation from Segment Totals to Consolidated [Abstract]
Revenue	(380)	(266)
Total segments [Member]
Reconciliation of Earnings from Continuing Operations from Segments to Consolidated [Abstract]
Earnings before provision for income taxes	302,290	189,200
Corporate expense / other [Member]
Reconciliation of Earnings from Continuing Operations from Segments to Consolidated [Abstract]
Earnings before provision for income taxes	$ 36,489	$ 29,862

Share Repurchases (Details)

Share Repurchases (Details)	3 Months Ended
	Mar. 31, 2017shares
January 2015 Authorization [Member]
Share Repurchases [Line Items]
Number of shares authorized to be repurchased	15,000,000
Treasury Stock, Shares, Acquired	0
January 2015 Authorization [Member]
Share Repurchases [Line Items]
Remaining number of shares authorized to be repurchased	6,771,458

Earnings per Share (Details)

Earnings per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Reconciliation of information used in computing basic and diluted earnings per share [Abstract]
Net earnings	$ 172,247	$ 99,356
Basic earnings (loss) per common share:
Net earnings (in dollars per basic share)	$ 1.11	$ 0.64
Weighted average shares outstanding - basic (in shares)	155,540,000	155,064,000
Diluted earnings (loss) per common share:
Net earnings (in dollars per diluted share)	$ 1.09	$ 0.64
Weighted average shares outstanding - diluted (in shares)	157,399,000	156,161,000
Reconciliation Of Share Amounts Used In Computing Earnings Per Share [Abstract]
Weighted average shares outstanding - basic (in shares)	155,540,000	155,064,000
Dilutive effect of assumed exercise of employee stock options, SAR's and performance shares (in shares)	1,859,000	1,097,000
Weighted average shares outstanding - diluted (in shares)	157,399,000	156,161,000
Antidilutive securities excluded from computation of earnings per share	0	27,000

Recent Accounting Standards Rec

Recent Accounting Standards Recent Accounting Standards (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Employee Service Share-based Compensation, Tax Benefit Realized from Exercise of Stock Options	$ 3,346
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense	0	$ 2,181
Deferred Finance Costs, Own-share Lending Arrangement, Issuance Costs, Net	$ 16,300		$ 16,500

Subsequent Events (Details)

Subsequent Events (Details) - Apr. 05, 2017 € in Millions, $ in Millions	USD ($)	EUR (€)
Caldera Graphics [Member]
Subsequent Event [Line Items]
Payments to Acquire Businesses, Gross	$ 37	€ 35