Dover (DOV) 10-Q 20 Oct 22 2022 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2022	Oct. 13, 2022
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
Document Transition Report	false
Entity File Number	1-4018
Entity Registrant Name	DOVER Corp
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	53-0257888
Entity Address, Address Line One	3005 Highland Parkway
Entity Address, City or Town	Downers Grove,
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60515
City Area Code	(630)
Local Phone Number	541-1540
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		140,353,950
Entity Central Index Key	0000029905
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Amendment Flag	false
Common stock $1 par value
Document Information [Line Items]
Title of 12(b) Security	Common Stock
Trading Symbol	DOV
Security Exchange Name	NYSE
1.250% Notes due 2026
Document Information [Line Items]
Title of 12(b) Security	1.250% Notes due 2026
Trading Symbol	DOV 26
Security Exchange Name	NYSE
0.750% Notes due 2027
Document Information [Line Items]
Title of 12(b) Security	0.750% Notes due 2027
Trading Symbol	DOV 27
Security Exchange Name	NYSE

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
Revenue	$ 2,158,291	$ 2,018,269	$ 6,368,907	$ 5,917,846
Cost of goods and services	1,385,541	1,263,690	4,071,680	3,669,547
Gross profit	772,750	754,579	2,297,227	2,248,299
Selling, general and administrative expenses	402,339	412,553	1,270,615	1,249,593
Operating earnings	370,411	342,026	1,026,612	998,706
Interest expense	29,789	26,433	83,330	79,917
Interest income	(1,244)	(1,466)	(2,968)	(3,088)
Other income, net	(11,167)	(10,460)	(17,842)	(18,236)
Earnings before provision for income taxes	353,033	327,519	964,092	940,113
Provision for income taxes	67,007	63,763	162,295	179,080
Net earnings	$ 286,026	$ 263,756	$ 801,797	$ 761,033
Net earnings per share:
Basic (in dollars per share)	$ 2.01	$ 1.83	$ 5.59	$ 5.29
Diluted (in dollars per share)	$ 2	$ 1.81	$ 5.55	$ 5.24
Weighted average shares outstanding:
Basic (in shares)	142,506	143,976	143,469	143,895
Diluted (in shares)	143,257	145,440	144,413	145,220

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Net earnings	$ 286,026	$ 263,756	$ 801,797	$ 761,033
Foreign currency translation adjustments:
Foreign currency translation losses	(117,460)	(26,155)	(216,665)	(17,567)
Reclassification of foreign currency translation losses to earnings	0	0	5,915	0
Total foreign currency translation adjustments (net of $(21,020), $(5,446), $(39,990) and $(11,669) tax provision, respectively)	(117,460)	(26,155)	(210,750)	(17,567)
Pension and other post-retirement benefit plans:
Amortization of actuarial losses included in net periodic pension cost	327	2,353	1,032	7,080
Amortization of prior service costs included in net periodic pension cost	223	214	670	646
Total pension and other post-retirement benefit plans (net of $(195), $(771), $(605) and $(2,320) tax provision, respectively)	550	2,567	1,702	7,726
Changes in fair value of cash flow hedges:
Unrealized net gains (losses) arising during period	1,503	(212)	2,317	4,107
Net gains reclassified into earnings	(1,290)	(206)	(3,911)	(3,077)
Total cash flow hedges (net of $(61), $122, $458 and $(302) tax benefit (provision), respectively)	213	(418)	(1,594)	1,030
Other comprehensive loss, net of tax	(116,697)	(24,006)	(210,642)	(8,811)
Comprehensive earnings	$ 169,329	$ 239,750	$ 591,155	$ 752,222

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustments, tax benefit (provision)	$ (21,020)	$ (5,446)	$ (39,990)	$ (11,669)
Pension and other postretirement benefit plans tax provision	(195)	(771)	(605)	(2,320)
Cash flow hedges tax benefit (provision)	$ (61)	$ 122	$ 458	$ (302)

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 306,002	$ 385,504
Receivables, net	1,497,062	1,347,514
Inventories, net	1,407,797	1,191,095
Prepaid and other current assets	166,184	137,596
Total current assets	3,377,045	3,061,709
Property, plant and equipment, net	958,894	957,310
Goodwill	4,532,333	4,558,822
Intangible assets, net	1,313,001	1,359,522
Other assets and deferred charges	471,068	466,264
Total assets	10,652,341	10,403,627
Current liabilities:
Short-term borrowings	788,860	105,702
Accounts payable	1,143,253	1,073,568
Accrued compensation and employee benefits	232,247	302,978
Deferred revenue	246,181	227,549
Accrued insurance	105,095	101,448
Other accrued expenses	321,487	347,097
Federal and other income taxes	51,631	91,999
Total current liabilities	2,888,754	2,250,341
Long-term debt	2,842,662	3,018,714
Deferred income taxes	389,133	364,117
Noncurrent income tax payable	44,313	48,385
Other liabilities	496,053	532,542
Stockholders' equity:
Total stockholders' equity	3,991,426	4,189,528
Total liabilities and stockholders' equity	$ 10,652,341	$ 10,403,627

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common stock $1 par value	Additional paid-in capital	Retained earnings	Accumulated other comprehensive loss	Treasury stock
Beginning balance at Dec. 31, 2020	$ 3,385,773	$ 258,982	$ 868,882	$ 8,608,284	$ (153,254)	$ (6,197,121)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	761,033			761,033
Dividends paid	(214,805)			(214,805)
Common stock issued for the exercise of share-based awards	(34,838)	414	(35,252)
Stock-based compensation expense	25,053		25,053
Common stock acquired, including accelerated share repurchase program	(21,637)					(21,637)
Other comprehensive loss, net of tax	(8,811)				(8,811)
Other, net	50		50
Ending balance at Sep. 30, 2021	$ 3,891,818	259,396	858,733	9,154,512	(162,065)	(6,218,758)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends paid per common share (in dollars per share)	$ 1.49
Beginning balance at Jun. 30, 2021	$ 3,719,304	259,371	853,887	8,962,863	(138,059)	(6,218,758)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	263,756			263,756
Dividends paid	(72,107)			(72,107)
Common stock issued for the exercise of share-based awards	(1,770)	25	(1,795)
Stock-based compensation expense	6,660		6,660
Other comprehensive loss, net of tax	(24,006)				(24,006)
Other, net	(19)		(19)
Ending balance at Sep. 30, 2021	$ 3,891,818	259,396	858,733	9,154,512	(162,065)	(6,218,758)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends paid per common share (in dollars per share)	$ 0.50
Beginning balance at Dec. 31, 2021	$ 4,189,528	259,457	857,636	9,445,245	(154,052)	(6,218,758)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	801,797			801,797
Dividends paid	(216,636)			(216,636)
Common stock issued for the exercise of share-based awards	(12,278)	149	(12,427)
Stock-based compensation expense	24,657		24,657
Common stock acquired, including accelerated share repurchase program	(585,000)		(100,000)			(485,000)
Other comprehensive loss, net of tax	(210,642)				(210,642)
Ending balance at Sep. 30, 2022	$ 3,991,426	259,606	769,866	10,030,406	(364,694)	(6,703,758)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends paid per common share (in dollars per share)	$ 1.505
Beginning balance at Jun. 30, 2022	$ 4,388,523	259,601	863,717	9,816,960	(247,997)	(6,303,758)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	286,026			286,026
Dividends paid	(72,580)			(72,580)
Common stock issued for the exercise of share-based awards	(172)	5	(177)
Stock-based compensation expense	6,326		6,326
Common stock acquired, including accelerated share repurchase program	(500,000)		(100,000)			(400,000)
Other comprehensive loss, net of tax	(116,697)				(116,697)
Ending balance at Sep. 30, 2022	$ 3,991,426	$ 259,606	$ 769,866	$ 10,030,406	$ (364,694)	$ (6,703,758)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends paid per common share (in dollars per share)	$ 0.505

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021	Dec. 31, 2020
Statement of Stockholders' Equity [Abstract]
Common stock, par value per share (in dollars per share)	$ 1	$ 1	$ 1	$ 1	$ 1	$ 1	$ 1	$ 1
Dividends paid per common share (in dollars per share)	$ 0.505	$ 0.50	$ 1.505	$ 1.49

CONDENSED CONSOLIDATED STATEM_6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Operating Activities:
Net earnings	$ 801,797	$ 761,033
Adjustments to reconcile net earnings to cash from operating activities:
Depreciation and amortization	230,808	218,236
Stock-based compensation expense	24,657	25,053
Reclassification of foreign currency translation losses to earnings	5,915	0
Other, net	(35,814)	(11,969)
Cash effect of changes in assets and liabilities:
Accounts receivable	(227,831)	(222,521)
Inventories	(286,437)	(225,522)
Prepaid expenses and other assets	(14,001)	(38,290)
Accounts payable	121,513	199,877
Accrued compensation and employee benefits	(62,208)	32,284
Accrued expenses and other liabilities	(19,700)	42,084
Accrued and deferred taxes, net	(71,618)	8,321
Net cash provided by operating activities	467,081	788,586
Investing Activities:
Additions to property, plant and equipment	(166,039)	(121,157)
Acquisitions, net of cash acquired	(229,296)	(171,287)
Proceeds from sale of property, plant and equipment	4,215	6,570
Other	(10,941)	(768)
Net cash used in investing activities	(402,061)	(286,642)
Financing Activities:
Repurchase of common stock, including prepayment under accelerated share repurchase program	(585,000)	(21,637)
Proceeds from commercial paper and other short-term borrowings, net	682,928	0
Dividends paid to stockholders	(216,636)	(214,805)
Payments to settle employee tax obligations on exercise of share-based awards	(12,278)	(34,838)
Other	(2,593)	(3,518)
Net cash used in financing activities	(133,579)	(274,798)
Effect of exchange rate changes on cash and cash equivalents	(10,943)	(1,077)
Net (decrease) increase in cash and cash equivalents	(79,502)	226,069
Cash and cash equivalents at beginning of period	385,504	513,075
Cash and cash equivalents at end of period	$ 306,002	$ 739,144

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	1. Basis of Presentation The accompanying unaudited interim Condensed Consolidated Financial Statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC") for interim periods and do not include all of the information and note disclosures required by accounting principles generally accepted in the United States of America ("GAAP") for complete financial statements. These unaudited interim Condensed Consolidated Financial Statements should therefore be read in conjunction with the Consolidated Financial Statements and Notes for Dover Corporation ("Dover" or the "Company") for the year ended December 31, 2021, included in the Company's Annual Report on Form 10-K filed with the SEC on February 11, 2022. The year-end Condensed Consolidated Balance Sheet was derived from audited financial statements. The accompanying unaudited interim Condensed Consolidated Financial Statements have been prepared in accordance with U.S. GAAP, 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.

Revenue

Revenue	9 Months Ended
	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue	2. Revenue A majority of the Company’s revenue is short cycle in nature with shipments within one year from order. A small portion of the Company’s revenue derives from contracts extending over one year. The Company's payment terms generally range between 30 to 90 days and vary by the location of businesses, the type of products manufactured to be sold and the volume of products sold, among other factors. Over 95% of the Company’s revenue is recognized at a point in time rather than over time as the Company completes its performance obligations. Specifically, revenue is recognized when control transfers to the customer, typically upon shipment or completion of installation, testing, certification, or other substantive acceptance provisions required under the contract. Less than 5% of the Company’s revenue is recognized over time and relates to the sale of equipment or services in which the Company transfers control of a good or service over time and the customer simultaneously receives and consumes the benefits provided by the Company's performance as the Company performs, or our performance creates or enhances an asset the customer controls as the asset is created or enhanced, or our performance does not create an asset with an alternative use to the Company and the Company has an enforceable right to payment for its performance to date plus a reasonable margin. Revenue from contracts with customers is disaggregated by segment and geographic location, as they best depict the nature and amount of the Company’s revenue. See Note 16 — Segment Information for further details for revenue by segment and geographic location. At September 30, 2022, we estimated that $318 million in revenue is expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) at the end of the reporting period. We expect to recognize approximately 73% of our unsatisfied (or partially unsatisfied) performance obligations as revenue through 2023, with the remaining balance to be recognized in 2024 and thereafter. The following table provides information about contract assets and contract liabilities from contracts with customers: September 30, 2022 December 31, 2021 December 31, 2020 Contract assets 14,660 11,440 15,020 Contract liabilities - current 246,181 227,549 184,845 Contract liabilities - non-current 20,872 21,513 13,921 The revenue recognized during the nine months ended September 30, 2022 and 2021 that was included in contract liabilities at the beginning of the period, inclusive of adjustments, amounted to $178,098 and $155,255, respectively.

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Acquisitions	3. Acquisitions 2022 Acquisitions During the nine months ended September 30, 2022, the Company acquired two businesses in separate transactions for total consideration of $229,296, net of cash acquired. Of these transactions, one includes additional consideration contingent on achieving certain financial performance targets. These businesses were acquired to complement and expand upon existing operations within the Pumps & Process Solutions segment. The goodwill recorded as a result of these acquisitions represents the economic benefits expected to be derived from product line expansions and operational synergies. The goodwill is non-deductible for U.S. income tax purposes for these acquisitions. Malema On July 1, 2022, the Company acquired 99.7% of the equity interests in Malema Engineering Corporation and its related foreign entities ("Malema"), a designer and manufacturer of flow measurement and control instruments serving customers in the biopharmaceutical, semiconductor and industrial sectors, for $220,843, net of cash acquired, subject to contingent consideration. Subsequent to September 30, 2022, the Company acquired the remaining 0.3% of equity interests in Malema. The Malema acquisition expands the Company's biopharma single-use production offering within the Pumps & Process Solutions segment. The contingent consideration is based upon meeting certain financial performance targets for each twelve-month period over the next two years from March 31, 2022, with a range of payouts from $0 to $50,000. No value is attributed to the current estimated fair value of contingent earn-out liability, which will be reassessed quarterly during the performance periods. In connection with this acquisition, the Company recorded goodwill of $151,701 and intangible assets of $64,000 for customer intangibles, $16,000 for patents, and $4,000 for trademarks. The fair value for customer intangibles at the acquisition date was determined using the multi-period excess earnings method under the income approach. The fair value measurements of intangible assets are based on significant unobservable inputs, and thus represent Level 3 inputs. Significant assumptions used in assessing the fair values of intangible assets include discounted future cash flows, customer attrition rates and discount rates. The fair value of assets acquired also includes trade receivables of $2,928. The fair values of the assets acquired and liabilities assumed, and the related tax balances, are based on preliminary estimates and assumptions. These preliminary estimates and assumptions could change significantly during the measurement period as the Company finalizes the valuations of the assets acquired and liabilities assumed, and the related tax balances. The following presents the preliminary allocation of purchase price to the assets acquired and liabilities assumed under the Malema acquisition, based on their estimated fair values at acquisition date: Total Current assets, net of cash acquired $ 8,985 Property, plant and equipment 2,733 Goodwill 151,701 Intangible assets 84,000 Other assets and deferred charges 1,159 Current liabilities (5,676) Non-current liabilities (22,059) Net assets acquired $ 220,843 The amounts assigned to goodwill and major intangible asset classifications were as follows: Amount allocated Useful life Goodwill - non-deductible $ 151,701 na Customer intangibles 64,000 15 Patents 16,000 10 Trademarks 4,000 15 $ 235,701 Other acquisitions On May 2, 2022, the Company acquired 100% of the voting stock of AMN DPI ("AMN"), a designer and manufacturer of polymer pelletizing tools, for $8,453, net of cash acquired. The AMN acquisition extends the Company's reach into polymer processing equipment production within the Pumps & Process Solutions segment. In connection with this acquisition, the Company recorded goodwill of $2,315 and intangible assets o f $5,349, primarily related to customer intangibles. 2021 Acquisitions During the nine months ended September 30, 2021, the Company acquired six businesses in separate transactions for total consideration of $179,161, net of cash acquired and including contingent consideration. These businesses were acquired to complement and expand upon existing operations within the Engineered Products, Imaging & Identification, Pumps & Process Solutions, and Clean Energy & Fueling segments. The goodwill recorded as a result of these acquisitions represents the economic benefits expected to be derived from product line expansions and operational synergies. Goodwill of $29,317 is deductible for income tax purposes and $83,142 is non-deductible for income tax purposes for these acquisitions. On September 15, 2021, the Company acquired 100% of the voting stock of The Espy Corporation ("Espy"), a manufacturer of advanced electronic radio frequency sensor systems, for $60,457, net of cash acquired. The Espy acquisition strengthens the Company's offering of complete signal intelligence systems with integrated software within the Engineered Products segment. In connection with this acquisition, the Company recorded goodwill of $29,317 and intangible assets of $21,100, primarily related to customer intangibles. The Espy acquisition was treated as an asset acquisition for U.S. income tax purposes, classifying the goodwill and intangibles as tax deductible. On July 23, 2021, the Company acquired 100% of the voting stock of CDS Visual, Inc. ("CDS Visual"), a leading provider of 3D visualization solutions tailored for industrial applications, for $29,147, net of cash acquired. The CDS Visual acquisition extends the Company's reach of customer-facing digital capabilities within the Engineered Products segment. In connection with this acquisition, the Company recorded goodwill of $20,863 and intangible assets of $9,930, primarily related to technology. On June 24, 2021, the Company acquired 100% of the voting stock of Blue Bite LLC ("Blue Bite"), a leading provider of consumer engagement and brand protection software solutions, for $30,143, net of cash acquired and including contingent consideration. The Blue Bite acquisition strengthens the Company's offering of product traceability and authentication solutions within the Imaging & Identification segment. In connection with this acquisition, the Company recorded goodwill of $20,458 and intangible assets of $13,250, primarily related to technology. On June 23, 2021, the Company acquired 100% of the voting stock of Quantex Arc Limited ("Quantex"), a leading provider of single-use, recyclable pumps, for $23,747, net of cash acquired and including contingent consideration. The Quantex acquisition enhances the offering of single-use pumps for biopharma and other hygienic applications within the Pumps & Process Solutions segment. In connection with this acquisition, the Company recorded goodwill of $14,327 and intangible assets of $11,034, primarily related to patented technology. On April 19, 2021, the Company acquired 100% of the voting stock of AvaLAN Wireless Systems Incorporated ("AvaLAN"), a leading provider of secure wireless communications solutions for the convenience and fuel retail industry, for $34,144, net of cash acquired. The AvaLAN acquisition extends the Company's reach into the systems and software offering within the Clean Energy & Fueling segment. In connection with this acquisition, the Company recorded goodwill of $26,803 and intangible assets of $14,630, primarily related to customer intangibles. One other immaterial acquisition was completed during the nine months ended September 30, 2021 within the Pumps & Process Solutions segment. RegO On December 28, 2021, the Company acquired 100% of the voting stock of ECI Holding Company, LLC ("RegO"), a provider of highly-engineered components and services that facilitate the production, storage, and distribution of cryogenic gases, for $626,620, net of cash acquired and inclusive of the impact of measurement period adjustments discussed below. In connection with this acquisition, the Company recorded goodwill of $158,894 deductible for income tax purposes and $122,301 non-deductible for income tax purposes. The Company also recorded intangible assets of $173,000 for customer intangibles, $40,000 for patents, and $21,000 for trademarks. The fair value of customer intangibles at the acquisition date was determined using the multi-period excess earnings method under the income approach. The fair value measurements of intangible assets are based on significant unobservable inputs and thus represent Level 3 inputs. Significant assumptions used in assessing the fair values of intangible assets include discounted future cash flows, customer attrition rates and discount rates. The fair value of assets acquired also includes trade receivables of $33,900. The gross amount is $34,606, of which $706 is expected to be uncollectible. The fair values of the assets acquired and liabilities assumed, and the related tax balances, are based on preliminary estimates and assumptions. These preliminary estimates and assumptions could change during the measurement period as the Company finalizes the valuations of the assets acquired and liabilities assumed, and the related tax balances. During the nine months ended September 30, 2022, the Company recorded measurement period adjustments primarily related to its preliminary estimates of deferred taxes and changes in net working capital. These adjustments are based on facts and circumstances that existed as of the acquisition date which resulted in an increase in goodwill of $4,219. The following presents the updated preliminary allocation of purchase price, net of cash acquired of $10,382, to the assets acquired and liabilities assumed under the RegO acquisition, based on their estimated fair values at their acquisition dates: Total Accounts receivable $ 33,900 Inventories 72,551 Other current assets 2,958 Property, plant and equipment 50,027 Goodwill 281,195 Intangible assets 234,000 Other assets and deferred charges 884 Current liabilities (20,150) Non-current liabilities (28,745) Net assets acquired $ 626,620 The amounts assigned to goodwill and major intangible asset classifications were as follows: Amount allocated Useful life Goodwill - tax deductible $ 158,894 na Goodwill - non-deductible 122,301 na Customer intangibles 173,000 15 Patents 40,000 12 Trademarks 21,000 16 $ 515,195 Acme Cryogenics On December 16, 2021, the Company acquired 100% of the voting stock of Acme Cryo Intermediate Inc. ("Acme Cryogenics"), a provider of highly-engineered components and services that facilitate the production, storage, and distribution of cryogenic gases, for $292,285, net of cash acquired and inclusive of the impact of measurement period adjustments discussed below. In connection with this acquisition, the Company recorded goodwill of $164,870 non-deductible for income tax purposes. The Company also recorded intangible assets of $99,000 for customer intangibles, $21,800 for unpatented technology and $6,500 for trademarks. The fair value of customer intangibles at the acquisition date was determined using the multi-period excess earnings method under the income approach. The fair value measurements of intangible assets are based on significant unobservable inputs and thus represent Level 3 inputs. Significant assumptions used in assessing the fair values of intangible assets include discounted future cash flows, customer attrition rates and discount rates. The fair value of assets acquired also includes trade receivables of $14,568. The gross amount is $14,912, of which $344 is expected to be uncollectible. The fair values of the assets acquired and liabilities assumed, and the related tax balances, are based on preliminary estimates and assumptions. These preliminary estimates and assumptions could change during the measurement period as the Company finalizes the valuations of the assets acquired and liabilities assumed, and the related tax balances. During the nine months ended September 30, 2022, the Company recorded measurement period adjustments primarily related to its preliminary estimates of deferred taxes and changes in net working capital. These adjustments are based on facts and circumstances that existed as of the acquisition date which resulted in a decrease in goodwill of $4,339. The following presents the updated preliminary allocation of purchase price to the assets acquired and liabilities assumed under the Acme Cryogenics acquisition, based on their estimated fair values at acquisition date: Total Current assets, net of cash acquired $ 28,332 Property, plant and equipment 8,640 Goodwill 164,870 Intangible assets 127,300 Other assets and deferred charges 5,057 Current liabilities (7,286) Non-current liabilities (34,628) Net assets acquired $ 292,285 The amounts assigned to goodwill and major intangible asset classifications were as follows: Amount allocated Useful life Goodwill - non-deductible $ 164,870 na Customer intangibles 99,000 15 Unpatented technologies 21,800 12 Trademarks 6,500 16 $ 292,170

Inventories, net

Inventories, net	9 Months Ended
	Sep. 30, 2022
Inventory, Net [Abstract]
Inventories, net	4. Inventories, net September 30, 2022 December 31, 2021 Raw materials $ 781,168 $ 671,195 Work in progress 311,819 271,659 Finished goods 446,098 377,800 Subtotal 1,539,085 1,320,654 Less reserves (131,288) (129,559) Total $ 1,407,797 $ 1,191,095

Property, Plant and Equipment,

Property, Plant and Equipment, net	9 Months Ended
	Sep. 30, 2022
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment, net	5. Property, Plant and Equipment, net September 30, 2022 December 31, 2021 Land $ 60,706 $ 63,656 Buildings and improvements 571,851 582,314 Machinery, equipment and other 1,848,889 1,816,473 Property, plant and equipment, gross 2,481,446 2,462,443 Accumulated depreciation (1,522,552) (1,505,133) Property, plant and equipment, net $ 958,894 $ 957,310 Depreciation expense totaled $36,889 and $36,913 for the three months ended September 30, 2022 and 2021, respectively. For the nine months ended September 30, 2022 and 2021, depreciation expense totaled $111,274 and $111,152, respectively.

Credit Losses

Credit Losses	9 Months Ended
	Sep. 30, 2022
Credit Loss [Abstract]
Credit Losses	6. Credit Losses The Company is exposed to credit losses primarily through sales of products and services. Due to the short-term nature of such receivables, the estimate of the amount of accounts receivable that may not be collected is based on the aging of the accounts receivable balances and other historical and forward-looking information on the financial condition of customers. Balances are written off when determined to be uncollectible. The following table provides a roll-forward of the allowance for credit losses that is deducted from the amortized cost basis of accounts receivable to present the net amount expected to be collected. 2022 2021 Beginning Balance, December 31 of the Prior Year $ 40,126 $ 40,474 Provision for expected credit losses, net of recoveries 2,791 4,744 Amounts written off charged against the allowance (3,320) (3,991) Other, including foreign currency translation (3,202) 371 Ending balance, September 30 $ 36,395 $ 41,598

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	7. Goodwill and Other Intangible Assets The changes in the carrying value of goodwill by reportable operating segments were as follows: Engineered Products Clean Energy & Fueling Imaging & Identification Pumps & Process Solutions Climate & Sustainability Technologies Total Balance at December 31, 2021 $ 723,283 $ 1,427,691 $ 1,106,202 $ 792,839 $ 508,807 $ 4,558,822 Acquisitions — — — 154,016 — 154,016 Measurement period adjustments (286) 44 (1,544) — — (1,786) Foreign currency translation (21,852) (70,344) (56,274) (27,867) (2,382) (178,719) Balance at September 30, 2022 $ 701,145 $ 1,357,391 $ 1,048,384 $ 918,988 $ 506,425 $ 4,532,333 During the nine months ended September 30, 2022, the Company recognized additions of $154,016 to goodwill as a result of acquisitions as discussed in Note 3 — Acquisitions. During the nine months ended September 30, 2022, the Company recorded measurement period adjustments that decreased goodwill by $1,786, principally related to deferred taxes and working capital adjustments for 2021 acquisitions within the Imaging & Identification and Engineered Products segments. The Company’s definite-lived and indefinite-lived intangible assets by major asset class were as follows: September 30, 2022 December 31, 2021 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortized intangible assets: Customer intangibles $ 1,819,083 $ 947,490 $ 871,593 $ 1,829,492 $ 909,776 $ 919,716 Trademarks 257,029 125,754 131,275 263,367 116,633 146,734 Patents 215,500 141,621 73,879 205,910 140,327 65,583 Unpatented technologies 243,792 129,646 114,146 221,239 123,464 97,775 Distributor relationships 74,812 53,594 21,218 84,204 55,260 28,944 Drawings and manuals 24,447 24,447 — 27,792 27,303 489 Other 22,503 18,017 4,486 22,347 18,775 3,572 Total 2,657,166 1,440,569 1,216,597 2,654,351 1,391,538 1,262,813 Unamortized intangible assets: Trademarks 96,404 — 96,404 96,709 — 96,709 Total intangible assets, net (1) $ 2,753,570 $ 1,440,569 $ 1,313,001 $ 2,751,060 $ 1,391,538 $ 1,359,522 (1) The change in intangible assets, net for the nine months ended September 30, 2022 includes a decrease of $48.2 million due to foreign currency translation. For the three months ended September 30, 2022 and 2021, amortization expense was $39,625 and $35,998, respectively. For the nine months ended September 30, 2022 and 2021, amortization expense was $119,534 and $107,084, respectively. Amortization expense is primarily comprised of acquisition-related intangible amortization. During the nine months ended September 30, 2022, the Company acquired certain intellectual property assets related to electric refuse collection vehicles for approximately $29,750, including contingent consideration of up to $20,000. These assets were classified as unpatented technologies and included in the Engineered Products segment.

Restructuring Activities

Restructuring Activities	9 Months Ended
	Sep. 30, 2022
Restructuring and Related Activities [Abstract]
Restructuring Activities	8. Restructuring Activities The Company's restructuring charges by segment were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Engineered Products $ 2,027 $ 870 $ 3,008 $ 9,200 Clean Energy & Fueling 3,063 1,620 4,682 3,084 Imaging & Identification 516 168 2,051 1,032 Pumps & Process Solutions 552 639 2,713 1,526 Climate & Sustainability Technologies (85) 1,293 5,790 4,637 Corporate 1,242 200 1,537 1,182 Total $ 7,315 $ 4,790 $ 19,781 $ 20,661 These amounts are classified in the Condensed Consolidated Statements of Earnings as follows: Cost of goods and services $ 2,082 $ 2,194 $ 3,326 $ 10,940 Selling, general and administrative expenses 5,233 2,596 16,455 9,721 Total $ 7,315 $ 4,790 $ 19,781 $ 20,661 The restructuring expenses of $7,315 and $19,781 incurred during the three and nine months ended September 30, 2022 were primarily the result of restructuring pro grams initiated in 2021 and 2022 in response to demand conditions and broad-based operational efficiency initiatives focusing on footprint consolidation and IT centralization. The $7,315 of restructuring charges incurred during the third quarter of 2022 primarily included the following items: • The Engineered Products segment recorded $2,027 of restructuring charges related primarily to headcount reductions. • The Clean Energy & Fueling segment recorded $3,063 of restructuring charges related primarily to headcount reductions and exit costs undertaken in light of market conditions. The segment will continue to make proactive adjustments to its cost structure through restructuring and other programs to align with current demand trends. • The Imaging & Identification segment recorded $516 of restructuring charges related primarily to headcount reductions and exit costs. • The Pumps & Process Solutions segment recorded $552 of restructuring charges related primarily to headcount reductions. • The Climate & Sustainability Technologies segment recorded $(85) of net restructuring reserve adjustments. • Corporate recorded $1,242 of restructuring charges related primarily to exit costs and simplification of organizational structure. The Company’s severance and exit accrual activities were as follows: Severance Exit Total Balance at December 31, 2021 $ 10,730 $ 3,067 $ 13,797 Restructuring charges 8,421 11,360 (1) 19,781 Payments (10,637) (4,253) (14,890) Other, including foreign currency translation (862) (6,945) (1) (7,807) Balance at September 30, 2022 $ 7,652 $ 3,229 $ 10,881 (1) Other activity includes non-cash foreign currency translation losses recorded as restructuring charges due to the substantial liquidation of businesses in certain Latin America countries.

Borrowings

Borrowings	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Borrowings	9. Borrowings Borrowings consisted of the following: September 30, 2022 December 31, 2021 Short-term: Commercial paper $ 788,034 $ 105,000 Other 826 702 Short-term borrowings $ 788,860 $ 105,702 Carrying amount (1) Principal September 30, 2022 December 31, 2021 Long-term 3.15% 10-year notes due November 15, 2025 $ 400,000 $ 397,895 $ 397,389 1.25% 10-year notes due November 9, 2026 (euro-denominated) € 600,000 577,288 674,217 0.750% 8-year notes due November 4, 2027 (euro-denominated) € 500,000 480,484 561,293 6.65% 30-year debentures due June 1, 2028 $ 200,000 199,431 199,356 2.950% 10-year notes due November 4, 2029 $ 300,000 297,313 297,029 5.375% 30-year debentures due October 15, 2035 $ 300,000 296,746 296,559 6.60% 30-year notes due March 15, 2038 $ 250,000 248,251 248,166 5.375% 30-year notes due March 1, 2041 $ 350,000 344,913 344,705 Other 341 — Total long-term debt $ 2,842,662 $ 3,018,714 (1) Carrying amount is net of unamortized debt discount and deferred debt issuance costs. Total unamortized debt discounts were $12.8 million and $15.1 million as of September 30, 2022 and December 31, 2021, respectively. Total deferred debt issuance costs were $11.2 million and $12.5 million as of September 30, 2022 and December 31, 2021, respectively. During the nine months ended September 30, 2022, commercial paper borrowings increased $683,034. The borrowings outstanding under the commercial paper program had a weighted average annual interest rate of 3.34% and 0.38% as of September 30, 2022 and December 31, 2021, respectively. As of September 30, 2022, the Company maintained a $1.0 billion five-year unsecured revolving credit facility (the "Credit Agreement") with a syndicate of banks which expires on October 4, 2024. The Company uses the Credit Agreement principally as liquidity back-up for its commercial paper program and for general corporate purposes. At the Company's election, loans under the Credit Agreement will bear interest at a base rate plus an applicable margin. The Credit Agreement requires the Company to pay a facility fee and imposes various restrictions on the Company such as, among other things, a requirement to maintain a minimum interest coverage ratio of consolidated EBITDA to consolidated net interest expense of not less than 3.0 to 1. As of September 30, 2022 and December 31, 2021, there were no borrowings under the Credit Agreement. The Company was in compliance with all covenants in the Credit Agreement and other long-term debt covenants at September 30, 2022 and had an interest coverage ratio of consolidated EBITDA to consolidated net interest expense of 17.5 to 1. Letters of Credit and other Guarantees As of September 30, 2022, the Company had approximately $168 million outstanding in letters of credit, surety bonds, and performance and other guarantees which expire on various dates through 2039. These letters of credit and bonds are primarily issued as security for insurance, warranty and other performance obligations. In general, we would only be liable for the amount of these guarantees in the event of default in the performance of our obligations.

Financial Instruments

Financial Instruments	9 Months Ended
	Sep. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Financial Instruments	10. 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 which occur within the next twelve months that are denominated in non-functional currencies, with currency forward contracts designated as cash flow hedges. At September 30, 2022 and December 31, 2021, the Company had contracts with total notional amounts of $163,384 and $180,929, respectively, to exchange currencies, principally euro, pound sterling, Swedish krona, Canadian dollar, Chinese yuan, and Swiss franc. The Company believes it is probable that all forecasted cash flow transactions will occur. In addition, the Company had outstanding contracts with a total notional amount of $112,646 and $108,736 as of September 30, 2022 and December 31, 2021, respectively, that are not designated as hedging instruments. These instruments are used to reduce the Company's exposure for operating receivables and payables that are denominated in non-functional currencies. Gains and losses on these contracts are recorded in other income, net in the Condensed Consolidated Statements of Earnings. The following table sets forth the fair values of derivative instruments held by the Company as of September 30, 2022 and December 31, 2021 and the balance sheet lines in which they are recorded: Fair Value Asset (Liability) September 30, 2022 December 31, 2021 Balance Sheet Caption Foreign currency forward $ 3,866 $ 2,825 Prepaid and other current assets Foreign currency forward (5,377) (433) Other accrued expenses For a cash flow hedge, the change in estimated fair value of a hedging instrument is recorded in accumulated other comprehensive (loss) earnings as a separate component of the Condensed Consolidated Statements of Stockholders' Equity and is reclassified into revenues, cost of goods and services, or selling, general and administrative expenses in the Condensed Consolidated Statements of Earnings during the period in which the hedged transaction is settled. The amount of gains or losses from hedging activity recorded in earnings is not significant, and the amount of unrealized gains and losses from cash flow hedges that are expected to be reclassified to earnings in the next twelve months is not significant; therefore, additional tabular disclosures are not presented. There are no amounts excluded from the assessment of hedge effectiveness, and the Company's derivative instruments that are subject to credit risk contingent features were not significant. The Company is exposed to credit loss in the event of nonperformance by counterparties to the financial instrument contracts held by the Company; however, nonperformance by these counterparties is considered unlikely as the Company’s policy is to contract with highly-rated, diversified counterparties. The Company has designated the €500,000 and €600,000 of euro-denominated notes issued November 4, 2019 and November 9, 2016, 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 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 for the gains on net investment hedges were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Gain on euro-denominated debt $ 94,731 $ 24,032 $ 179,221 $ 51,571 Tax expense (21,020) (5,446) (39,990) (11,669) Net gain on net investment hedges, net of tax $ 73,711 $ 18,586 $ 139,231 $ 39,902 Fair Value Measurements ASC 820, Fair Value Measurements and Disclosures, establishes a fair value hierarchy that requires the Company to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the hierarchy is based on the lowest level of input that is significant to the fair value measurement. ASC 820 establishes three levels of inputs that may be used to measure fair value. 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 September 30, 2022 and December 31, 2021: September 30, 2022 December 31, 2021 Level 2 Level 2 Assets: Foreign currency cash flow hedges $ 3,866 $ 2,825 Liabilities: Foreign currency cash flow hedges 5,377 433 The estimated fair value of long-term debt at September 30, 2022 and December 31, 2021 , w as $2,658,903 and $3,440,501, 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 short-term borrowings are reasonable estimates of their fair values as of September 30, 2022 and December 31, 2021 due to the short-term nature of these instruments.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	11. Income Taxes The effective tax rates for the three months ended September 30, 2022 and 2021 were 19.0% and 19.5%, respectively. The decrease in the effective tax rate for the three months ended September 30, 2022 relative to the prior year comparable period was primarily driven by favorable audit resolutions and recording of previously unrecognized tax attributes. The effective tax rates for the nine months ended September 30, 2022 and 2021 were 16.8% and 19.0%, respectively. The decrease in the effective tax rate for the nine months ended September 30, 2022 relative to the prior year comparable period was primarily driven by favorable audit resolutions, as well as $22.6 million related to the Tax Cuts and Jobs Act. 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 $0 to $4.8 million.

Equity Incentive Program

Equity Incentive Program	9 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangement, Noncash Expense [Abstract]
Equity Incentive Program	12. Equity Incentive Program The Company typically makes its annual grants of equity awards pursuant to actions taken by the Compensation Committee of the Board of Directors at its regularly scheduled first quarter meeting. During the nine months ended September 30, 2022, the Company issued stock-settled appreciation rights ("SARs") covering 335,285 shares, performance share awards of 40,087 and restricted stock units ("RSUs") of 79,556. 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 2022 2021 Risk-free interest rate 1.86 % 0.59 % Dividend yield 1.25 % 1.62 % Expected life (years) 5.4 5.5 Volatility 29.46 % 30.49 % Grant price $160.21 $122.73 Fair value per share at date of grant $42.07 $29.08 The performance share awards granted in 2022 and 2021 are market condition awards as attainment is based on Dover's performance relative to its peer group (companies listed under the S&P 500 Industrials sector) for the relevant performance period. The performance period and vesting period for these awards is three years. These awards were valued on the date of grant using the Monte Carlo simulation model (a binomial lattice-based valuation model) and are generally recognized ratably over the vesting period, and the fair value is not subject to change based on future market conditions. The assumptions used in determining the fair value of the performance shares granted in the respective periods were as follows: Performance Shares 2022 2021 Risk-free interest rate 1.68 % 0.19 % Dividend yield 1.25 % 1.62 % Expected life (years) 2.9 2.9 Volatility 31.10 % 31.90 % Grant price $160.21 $122.73 Fair value per share at date of grant $196.40 $148.29 The Company also has granted RSUs, and the fair value of these awards was determined using Dover's closing stock price on the date of grant, which was $160.21 and $122.73 for RSUs granted in 2022 and 2021, respectively. Stock-based compensation is reported within selling, general and administrative expenses in the Condensed Consolidated Statements of Earnings. The following table summarizes the Company’s compensation expense relating to all stock-based incentive plans: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Pre-tax stock-based compensation expense $ 6,326 $ 6,660 $ 24,657 $ 25,053 Tax benefit (591) (576) (2,437) (2,357) Total stock-based compensation expense, net of tax $ 5,735 $ 6,084 $ 22,220 $ 22,696

Commitments and Contingent Liab

Commitments and Contingent Liabilities	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingent Liabilities	13. Commitments and Contingent Liabilities Litigation Certain 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, certain of the Company’s subsidiaries are involved in ongoing remedial activities at certain current and former plant sites, in cooperation with regulatory agencies, and appropriate estimated liabilities have been established. At September 30, 2022 and December 31, 2021, these estimated liabilities for environmental and other matters, including private party claims for exposure to hazardous substances that are probable and estimable, were not material. 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 estimated liabilities for legal matters that are probable and estimable, and at September 30, 2022 and December 31, 2021, these estimated liabilities were not material. 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 of the Company's products. Amounts provided for are based on historical costs and adjusted for new claims and are included within other accrued expenses and other liabilities in the Condensed Consolidated Balance Sheet. The changes in the carrying amount of product warranties through September 30, 2022 and 2021, were as follows: 2022 2021 Beginning Balance, December 31 of the Prior Year $ 48,568 $ 51,088 Provision for warranties 46,096 53,747 Settlements made (46,135) (50,350) Other adjustments, including acquisitions and currency translation (2,233) (1,301) Ending balance, September 30 $ 46,296 $ 53,184

Employee Benefit Plans

Employee Benefit Plans	9 Months Ended
	Sep. 30, 2022
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
Employee Benefit Plans	14. Employee Benefit Plans Retirement Plans The Company sponsors qualified defined benefit pension plans covering certain employees of the Company and its subsidiaries, although the U.S. qualified and non-qualified defined benefit plans are closed to new entrants. 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 tables below set forth the components of the Company’s net periodic (income) expense relating to retirement benefit plans. The service cost component is recognized within selling, general and administrative expenses and cost of goods and services, depending on the functional area of the underlying employees included in the plans, and the non-operating components of pension costs are included within other income, net in the Condensed Consolidated Statements of Earnings. Qualified Defined Benefits Three Months Ended September 30, Nine Months Ended September 30, U.S. Plan Non-U.S. Plans U.S. Plan Non-U.S. Plans 2022 2021 2022 2021 2022 2021 2022 2021 Service cost $ 1,426 $ 1,784 $ 1,139 $ 1,398 $ 4,278 $ 5,351 $ 3,533 $ 4,238 Interest cost 3,436 3,401 799 674 10,309 10,204 2,529 2,036 Expected return on plan assets (7,276) (7,245) (1,748) (1,793) (21,828) (21,735) (5,454) (5,412) Amortization: Prior service cost (credit) 27 53 (131) (163) 82 159 (395) (494) Recognized actuarial loss 575 2,503 411 979 1,725 7,509 1,305 2,968 Net periodic (income) expense $ (1,812) $ 496 $ 470 $ 1,095 $ (5,434) $ 1,488 $ 1,518 $ 3,336 Non-Qualified Supplemental Benefits Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Service cost $ 356 $ 390 $ 1,069 $ 1,171 Interest cost 304 308 912 924 Amortization: Prior service cost 372 383 1,117 1,148 Recognized actuarial gain (504) (418) (1,512) (1,254) Net periodic expense $ 528 $ 663 $ 1,586 $ 1,989 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 related expense is recognized within selling, general and administrative expenses and cost of goods and services, depending on the functional area of the underlying employees included in the plans. The Company’s expense relating to defined contribution plans was $14,044 and $15,001 for the three months ended September 30, 2022 and 2021, respectively, and $46,301 and $46,114 for the nine months ended September 30, 2022 and 2021, respectively.

Other Comprehensive Earnings

Other Comprehensive Earnings	9 Months Ended
	Sep. 30, 2022
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Other Comprehensive Earnings	15. Other Comprehensive Earnings Amounts reclassified from accumulated other comprehensive loss to earnings during the three and nine months ended September 30, 2022 and 2021 were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Foreign currency translation: Reclassification of foreign currency translation losses to earnings for the substantial liquidation of businesses $ — $ — $ 5,915 $ — Tax benefit — — — — Net of tax $ — $ — $ 5,915 $ — Pension plans: Amortization of actuarial losses $ 474 $ 3,064 $ 1,494 $ 9,223 Amortization of prior service costs 271 274 813 823 Total before tax 745 3,338 2,307 10,046 Tax benefit (195) (771) (605) (2,320) Net of tax $ 550 $ 2,567 $ 1,702 $ 7,726 Cash flow hedges: Net gains reclassified into earnings $ (1,661) $ (267) $ (5,035) $ (3,977) Tax provision 371 61 1,124 900 Net of tax $ (1,290) $ (206) $ (3,911) $ (3,077) Foreign currency translation losses were recognized in selling, general and administrative expenses within the Condensed Consolidated Statement of Earnings as a result of the substantial liquidation of certain businesses. The Company recognizes the amortization of net actuarial gains and losses and prior service costs in other income, net within the Condensed Consolidated Statements of Earnings.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
Segment Information	16. Segment Information The Company categorizes its operating companies into five reportable segments as follows: • Engineered Products segment provides a wide range of equipment, components, software, solutions and services for vehicle aftermarket, waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-markets. • Clean Energy & Fueling segment provides components, equipment, and software and service solutions enabling safe transport of traditional and clean fuels and other hazardous substances along the supply chain, as well as the safe and efficient operation of convenience retail, retail fueling and vehicle wash establishments. • Imaging & Identification segment supplies precision marking and coding, packaging intelligence, product traceability, brand protection and digital textile printing equipment, as well as related consumables, software and services to the global packaged and consumer goods, pharmaceutical, industrial manufacturing, fashion and apparel and other end-markets. • Pumps & Process Solutions segment manufactures specialty pumps and flow meters, fluid connecting solutions, plastics and polymer processing equipment, and highly-engineered precision components for rotating and reciprocating machines serving single-use biopharmaceutical production, diversified industrial manufacturing, polymer processing, midstream and downstream oil and gas and other end-markets. • Climate & Sustainability Technologies segment is a provider of innovative and energy-efficient equipment and systems that serve the commercial refrigeration, heating and cooling and beverage can-making equipment markets. The Company's Chief Operating Decision Maker ("CODM") uses segment earnings to evaluate segment performance and allocate resources. Segment earnings is defined as earnings before purchase accounting expenses, restructuring and other costs (benefits), loss (gain) on dispositions, corporate expenses/other, interest expense, interest income and provision for income taxes. During the nine month period ended September 30, 2022, the segment measure of profit and loss used by the CODM was changed to segment earnings from segment earnings (EBIT), defined as earnings before corporate expenses/other, interest expense, interest income and provision for income taxes. This change in segment measure allows the CODM to better assess operating results over time and is consistent with how the CODM evaluates our businesses. Accordingly, we have updated our segment earnings for the three and nine months ended September 30, 2021 to conform to the new presentation. Segment financial information and a reconciliation of segment results to consolidated results were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Revenue: Engineered Products $ 516,501 $ 447,798 $ 1,518,584 $ 1,318,016 Clean Energy & Fueling 464,022 410,561 1,416,492 1,237,281 Imaging & Identification 282,371 292,535 830,577 870,939 Pumps & Process Solutions 433,558 438,240 1,309,880 1,261,318 Climate & Sustainability Technologies 462,671 429,425 1,295,913 1,232,008 Intersegment eliminations (832) (290) (2,539) (1,716) Total consolidated revenue $ 2,158,291 $ 2,018,269 $ 6,368,907 $ 5,917,846 Net earnings: Segment earnings: Engineered Products $ 90,145 $ 67,376 $ 242,946 $ 215,315 Clean Energy & Fueling 90,208 80,101 262,204 253,103 Imaging & Identification 74,477 70,635 194,467 200,818 Pumps & Process Solutions 128,573 150,275 413,238 425,929 Climate & Sustainability Technologies 75,190 49,734 192,980 150,114 Total segment earnings 458,593 418,121 1,305,835 1,245,279 Purchase accounting expenses (1) 40,526 35,587 140,831 106,265 Restructuring and other costs (benefits) (2) 8,613 (3,201) 27,109 11,740 Loss on dispositions (3) — — 194 — Corporate expense / other (4) 27,876 33,249 93,247 110,332 Interest expense 29,789 26,433 83,330 79,917 Interest income (1,244) (1,466) (2,968) (3,088) Earnings before provision for income taxes 353,033 327,519 964,092 940,113 Provision for income taxes 67,007 63,763 162,295 179,080 Net earnings $ 286,026 $ 263,756 $ 801,797 $ 761,033 (1) Purchase accounting expenses are primarily comprised of amortization of intangible assets and charges related to fair value step-ups for acquired inventory sold during the period. (2) Restructuring and other costs relate to actions taken for employee reductions, facility consolidations and site closures, product line exits, and other asset charges. Restructuring and other costs consist of the following: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Restructuring $ 7,315 $ 4,790 $ 19,781 $ 20,661 Other costs (benefits), net 1,298 (7,991) 7,328 (8,921) Restructuring and other costs (benefits) $ 8,613 $ (3,201) $ 27,109 $ 11,740 (3) Loss on dispositions includes working capital adjustments related to dispositions. (4) Certain expenses are maintained at the corporate level and not allocated to the segments. These expenses include executive and functional compensation costs, non-service pension costs, non-operating insurance expenses, shared business services overhead costs, deal-related expenses and various administrative expenses relating to the corporate headquarters. The following table presents revenue disaggregated by geography based on the location of the Company's customers: Three Months Ended September 30, Nine Months Ended September 30, Revenue by geography 2022 2021 2022 2021 United States $ 1,252,369 $ 1,108,513 $ 3,656,930 $ 3,235,542 Europe 426,007 452,066 1,331,835 1,356,435 Asia 246,750 222,366 705,252 650,481 Other Americas 166,045 166,230 467,365 468,298 Other 67,120 69,094 207,525 207,090 Total $ 2,158,291 $ 2,018,269 $ 6,368,907 $ 5,917,846

Share Repurchases

Share Repurchases	9 Months Ended
	Sep. 30, 2022
Stockholders' Equity Note [Abstract]
Share Repurchases	17. Share Repurchases In November 2020, the Company's Board of Directors approved a new standing share repurchase authorization, whereby the Company may repurchase up to 20 million shares beginning on January 1, 2021 through December 31, 2023. This share repurchase authorization replaced the February 2018 share repurchase authorization. On August 31, 2022, the Company entered into a $500,000 accelerated share repurchase agreement (the “ASR Agreement”) with Bank of America N.A. (“Bank of America”) to repurchase its shares in an accelerated share repurchase program (the “ASR Program”). The ASR Program is classified as equity, initially recorded at fair value with no subsequent remeasurement. The Company conducted the ASR Program under the November 2020 share repurchase authorization. The Company funded the ASR Program with proceeds from commercial paper. Under the terms of the ASR Agreement, the Company paid Bank of America $500,000 on September 1, 2022 and on that date received initial deliveries of 3,201,025 shares, representing a substantial majority of the shares expected to be retired over the course of the ASR Agreement. The total number of shares ultimately repurchased under the ASR Agreement will be based on the daily volume-weighted average share price of Dover's common stock during the calculation period of the ASR Program, less a discount. The ASR Program is scheduled to be completed in the fourth quarter of 2022, subject to postponement or acceleration under the terms of the ASR Agreement. The impact of these shares that will be received at the completion of the ASR Program is anti-dilutive and therefore excluded from the calculation of diluted earnings per share. The actual number of shares repurchased will be determined at the completion of the ASR Program. Under the November 2020 share repurchase authorization, exclusive of the ASR Program, in the three months ended September 30, 2022 and 2021, there were no share repurchases. In the nine months ended September 30, 2022, the Company repurchased 641,428 shares of common stock at a total cost of $85,000, or $132.52 per share. In the nine months ended September 30, 2021, the Company repurchased 182,951 shares of common stock at a total cost of $21,637, or $118.27 per share. As of September 30, 2022, 15,974,596 shares remain authorized for repurchase under the November 2020 share repurchase authorization.

Earnings per Share

Earnings per Share	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Earnings per Share	18. Earnings per Share The following table sets forth a reconciliation of the information used in computing basic and diluted earnings per share: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Net earnings $ 286,026 $ 263,756 $ 801,797 $ 761,033 Basic earnings per common share: Net earnings $ 2.01 $ 1.83 $ 5.59 $ 5.29 Weighted average shares outstanding 142,506,000 143,976,000 143,469,000 143,895,000 Diluted earnings per common share: Net earnings $ 2.00 $ 1.81 $ 5.55 $ 5.24 Weighted average shares outstanding 143,257,000 145,440,000 144,413,000 145,220,000 The following table is a reconciliation of the share amounts used in computing earnings per share: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Weighted average shares outstanding - Basic 142,506,000 143,976,000 143,469,000 143,895,000 Dilutive effect of assumed exercise of SARs and vesting of performance shares and RSUs 751,000 1,464,000 944,000 1,325,000 Weighted average shares outstanding - Diluted 143,257,000 145,440,000 144,413,000 145,220,000 Diluted earnings per share amounts are computed using the weighted average number of common shares outstanding and, if dilutive, potential common shares outstanding during the period. Potential common shares consist of the incremental common shares issuable upon the exercise of SARs and vesting of performance shares and RSUs, as determined using the treasury stock method. The weighted average number of anti-dilutive potential common shares excluded from the calculation above were approximately 19,000 and 1,000 for the three months ended September 30, 2022 and 2021, respectively, and 28,000 and 57,000 for the nine months ended September 30, 2022 and 2021, respectively.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Recent Accounting Pronouncements	19. Recent Accounting Pronouncements Recently Adopted Accounting Standard In October 2021, the FASB issued ASU 2021-08 Business Combinations (Topic 805) - Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. The amendments in this update require that an acquirer recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606, Revenue from Contracts with Customers, as if the acquirer had originated the contracts. The Company early adopted the guidance during the first quarter of 2022. Prior to adoption, the acquirer recognized such contract assets and contract liabilities at fair value on the acquisition date. The adoption did not have a material impact on the Company's Condensed Consolidated Financial Statements. Recently Issued Accounting Standard

Recent Accounting Pronounceme_2

Recent Accounting Pronouncements (Policies)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Recently Adopted And Issued Accounting Standards	Recently Adopted Accounting Standard In October 2021, the FASB issued ASU 2021-08 Business Combinations (Topic 805) - Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. The amendments in this update require that an acquirer recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606, Revenue from Contracts with Customers, as if the acquirer had originated the contracts. The Company early adopted the guidance during the first quarter of 2022. Prior to adoption, the acquirer recognized such contract assets and contract liabilities at fair value on the acquisition date. The adoption did not have a material impact on the Company's Condensed Consolidated Financial Statements. Recently Issued Accounting Standard

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Summary of Contract Assets and Contracts Liabilities	The following table provides information about contract assets and contract liabilities from contracts with customers: September 30, 2022 December 31, 2021 December 31, 2020 Contract assets 14,660 11,440 15,020 Contract liabilities - current 246,181 227,549 184,845 Contract liabilities - non-current 20,872 21,513 13,921

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Sep. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Preliminary Allocation of Purchase Price	The following presents the preliminary allocation of purchase price to the assets acquired and liabilities assumed under the Malema acquisition, based on their estimated fair values at acquisition date: Total Current assets, net of cash acquired $ 8,985 Property, plant and equipment 2,733 Goodwill 151,701 Intangible assets 84,000 Other assets and deferred charges 1,159 Current liabilities (5,676) Non-current liabilities (22,059) Net assets acquired $ 220,843 The following presents the updated preliminary allocation of purchase price, net of cash acquired of $10,382, to the assets acquired and liabilities assumed under the RegO acquisition, based on their estimated fair values at their acquisition dates: Total Accounts receivable $ 33,900 Inventories 72,551 Other current assets 2,958 Property, plant and equipment 50,027 Goodwill 281,195 Intangible assets 234,000 Other assets and deferred charges 884 Current liabilities (20,150) Non-current liabilities (28,745) Net assets acquired $ 626,620 The following presents the updated preliminary allocation of purchase price to the assets acquired and liabilities assumed under the Acme Cryogenics acquisition, based on their estimated fair values at acquisition date: Total Current assets, net of cash acquired $ 28,332 Property, plant and equipment 8,640 Goodwill 164,870 Intangible assets 127,300 Other assets and deferred charges 5,057 Current liabilities (7,286) Non-current liabilities (34,628) Net assets acquired $ 292,285
Goodwill and Major Intangible Assets Acquired	The amounts assigned to goodwill and major intangible asset classifications were as follows: Amount allocated Useful life Goodwill - non-deductible $ 151,701 na Customer intangibles 64,000 15 Patents 16,000 10 Trademarks 4,000 15 $ 235,701 The amounts assigned to goodwill and major intangible asset classifications were as follows: Amount allocated Useful life Goodwill - tax deductible $ 158,894 na Goodwill - non-deductible 122,301 na Customer intangibles 173,000 15 Patents 40,000 12 Trademarks 21,000 16 $ 515,195 The amounts assigned to goodwill and major intangible asset classifications were as follows: Amount allocated Useful life Goodwill - non-deductible $ 164,870 na Customer intangibles 99,000 15 Unpatented technologies 21,800 12 Trademarks 6,500 16 $ 292,170

Inventories, net (Tables)

Inventories, net (Tables)	9 Months Ended
	Sep. 30, 2022
Inventory, Net [Abstract]
Components of Inventory	September 30, 2022 December 31, 2021 Raw materials $ 781,168 $ 671,195 Work in progress 311,819 271,659 Finished goods 446,098 377,800 Subtotal 1,539,085 1,320,654 Less reserves (131,288) (129,559) Total $ 1,407,797 $ 1,191,095

Property, Plant and Equipment_2

Property, Plant and Equipment, net (Tables)	9 Months Ended
	Sep. 30, 2022
Property, Plant and Equipment [Abstract]
Components of Property, Plant and Equipment, net	September 30, 2022 December 31, 2021 Land $ 60,706 $ 63,656 Buildings and improvements 571,851 582,314 Machinery, equipment and other 1,848,889 1,816,473 Property, plant and equipment, gross 2,481,446 2,462,443 Accumulated depreciation (1,522,552) (1,505,133) Property, plant and equipment, net $ 958,894 $ 957,310

Credit Losses (Tables)

Credit Losses (Tables)	9 Months Ended
	Sep. 30, 2022
Credit Loss [Abstract]
Rollforward of Allowance for Credit Losses	The following table provides a roll-forward of the allowance for credit losses that is deducted from the amortized cost basis of accounts receivable to present the net amount expected to be collected. 2022 2021 Beginning Balance, December 31 of the Prior Year $ 40,126 $ 40,474 Provision for expected credit losses, net of recoveries 2,791 4,744 Amounts written off charged against the allowance (3,320) (3,991) Other, including foreign currency translation (3,202) 371 Ending balance, September 30 $ 36,395 $ 41,598

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	The changes in the carrying value of goodwill by reportable operating segments were as follows: Engineered Products Clean Energy & Fueling Imaging & Identification Pumps & Process Solutions Climate & Sustainability Technologies Total Balance at December 31, 2021 $ 723,283 $ 1,427,691 $ 1,106,202 $ 792,839 $ 508,807 $ 4,558,822 Acquisitions — — — 154,016 — 154,016 Measurement period adjustments (286) 44 (1,544) — — (1,786) Foreign currency translation (21,852) (70,344) (56,274) (27,867) (2,382) (178,719) Balance at September 30, 2022 $ 701,145 $ 1,357,391 $ 1,048,384 $ 918,988 $ 506,425 $ 4,532,333
Schedule of Definite-lived Intangible Assets	The Company’s definite-lived and indefinite-lived intangible assets by major asset class were as follows: September 30, 2022 December 31, 2021 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortized intangible assets: Customer intangibles $ 1,819,083 $ 947,490 $ 871,593 $ 1,829,492 $ 909,776 $ 919,716 Trademarks 257,029 125,754 131,275 263,367 116,633 146,734 Patents 215,500 141,621 73,879 205,910 140,327 65,583 Unpatented technologies 243,792 129,646 114,146 221,239 123,464 97,775 Distributor relationships 74,812 53,594 21,218 84,204 55,260 28,944 Drawings and manuals 24,447 24,447 — 27,792 27,303 489 Other 22,503 18,017 4,486 22,347 18,775 3,572 Total 2,657,166 1,440,569 1,216,597 2,654,351 1,391,538 1,262,813 Unamortized intangible assets: Trademarks 96,404 — 96,404 96,709 — 96,709 Total intangible assets, net (1) $ 2,753,570 $ 1,440,569 $ 1,313,001 $ 2,751,060 $ 1,391,538 $ 1,359,522 (1) The change in intangible assets, net for the nine months ended September 30, 2022 includes a decrease of $48.2 million due to foreign currency translation.
Schedule of Indefinite-lived Intangible Assets	The Company’s definite-lived and indefinite-lived intangible assets by major asset class were as follows: September 30, 2022 December 31, 2021 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortized intangible assets: Customer intangibles $ 1,819,083 $ 947,490 $ 871,593 $ 1,829,492 $ 909,776 $ 919,716 Trademarks 257,029 125,754 131,275 263,367 116,633 146,734 Patents 215,500 141,621 73,879 205,910 140,327 65,583 Unpatented technologies 243,792 129,646 114,146 221,239 123,464 97,775 Distributor relationships 74,812 53,594 21,218 84,204 55,260 28,944 Drawings and manuals 24,447 24,447 — 27,792 27,303 489 Other 22,503 18,017 4,486 22,347 18,775 3,572 Total 2,657,166 1,440,569 1,216,597 2,654,351 1,391,538 1,262,813 Unamortized intangible assets: Trademarks 96,404 — 96,404 96,709 — 96,709 Total intangible assets, net (1) $ 2,753,570 $ 1,440,569 $ 1,313,001 $ 2,751,060 $ 1,391,538 $ 1,359,522 (1) The change in intangible assets, net for the nine months ended September 30, 2022 includes a decrease of $48.2 million due to foreign currency translation.

Restructuring Activities (Table

Restructuring Activities (Tables)	9 Months Ended
	Sep. 30, 2022
Restructuring and Related Activities [Abstract]
Restructuring Charges by Segment	The Company's restructuring charges by segment were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Engineered Products $ 2,027 $ 870 $ 3,008 $ 9,200 Clean Energy & Fueling 3,063 1,620 4,682 3,084 Imaging & Identification 516 168 2,051 1,032 Pumps & Process Solutions 552 639 2,713 1,526 Climate & Sustainability Technologies (85) 1,293 5,790 4,637 Corporate 1,242 200 1,537 1,182 Total $ 7,315 $ 4,790 $ 19,781 $ 20,661 These amounts are classified in the Condensed Consolidated Statements of Earnings as follows: Cost of goods and services $ 2,082 $ 2,194 $ 3,326 $ 10,940 Selling, general and administrative expenses 5,233 2,596 16,455 9,721 Total $ 7,315 $ 4,790 $ 19,781 $ 20,661
Severance and Exit Accrual Activities	The Company’s severance and exit accrual activities were as follows: Severance Exit Total Balance at December 31, 2021 $ 10,730 $ 3,067 $ 13,797 Restructuring charges 8,421 11,360 (1) 19,781 Payments (10,637) (4,253) (14,890) Other, including foreign currency translation (862) (6,945) (1) (7,807) Balance at September 30, 2022 $ 7,652 $ 3,229 $ 10,881 (1) Other activity includes non-cash foreign currency translation losses recorded as restructuring charges due to the substantial liquidation of businesses in certain Latin America countries.

Borrowings (Tables)

Borrowings (Tables)	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Short-term Debt	Borrowings consisted of the following: September 30, 2022 December 31, 2021 Short-term: Commercial paper $ 788,034 $ 105,000 Other 826 702 Short-term borrowings $ 788,860 $ 105,702
Long-term Debt	Carrying amount (1) Principal September 30, 2022 December 31, 2021 Long-term 3.15% 10-year notes due November 15, 2025 $ 400,000 $ 397,895 $ 397,389 1.25% 10-year notes due November 9, 2026 (euro-denominated) € 600,000 577,288 674,217 0.750% 8-year notes due November 4, 2027 (euro-denominated) € 500,000 480,484 561,293 6.65% 30-year debentures due June 1, 2028 $ 200,000 199,431 199,356 2.950% 10-year notes due November 4, 2029 $ 300,000 297,313 297,029 5.375% 30-year debentures due October 15, 2035 $ 300,000 296,746 296,559 6.60% 30-year notes due March 15, 2038 $ 250,000 248,251 248,166 5.375% 30-year notes due March 1, 2041 $ 350,000 344,913 344,705 Other 341 — Total long-term debt $ 2,842,662 $ 3,018,714 (1) Carrying amount is net of unamortized debt discount and deferred debt issuance costs. Total unamortized debt discounts were $12.8 million and $15.1 million as of September 30, 2022 and December 31, 2021, respectively. Total deferred debt issuance costs were $11.2 million and $12.5 million as of September 30, 2022 and December 31, 2021, respectively.

Financial Instruments (Tables)

Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2022
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 September 30, 2022 and December 31, 2021 and the balance sheet lines in which they are recorded: Fair Value Asset (Liability) September 30, 2022 December 31, 2021 Balance Sheet Caption Foreign currency forward $ 3,866 $ 2,825 Prepaid and other current assets Foreign currency forward (5,377) (433) Other accrued expenses
Schedule of Other Comprehensive Earnings for the Gains (Losses) on Net Investment Hedges	Amounts recognized in other comprehensive earnings for the gains on net investment hedges were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Gain on euro-denominated debt $ 94,731 $ 24,032 $ 179,221 $ 51,571 Tax expense (21,020) (5,446) (39,990) (11,669) Net gain on net investment hedges, net of tax $ 73,711 $ 18,586 $ 139,231 $ 39,902
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 September 30, 2022 and December 31, 2021: September 30, 2022 December 31, 2021 Level 2 Level 2 Assets: Foreign currency cash flow hedges $ 3,866 $ 2,825 Liabilities: Foreign currency cash flow hedges 5,377 433

Equity Incentive Program (Table

Equity Incentive Program (Tables)	9 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangement, Noncash Expense [Abstract]
Assumptions Used in Determining the Fair Value	The assumptions used in determining the fair value of the SARs awarded during the respective periods were as follows: SARs 2022 2021 Risk-free interest rate 1.86 % 0.59 % Dividend yield 1.25 % 1.62 % Expected life (years) 5.4 5.5 Volatility 29.46 % 30.49 % Grant price $160.21 $122.73 Fair value per share at date of grant $42.07 $29.08 Performance Shares 2022 2021 Risk-free interest rate 1.68 % 0.19 % Dividend yield 1.25 % 1.62 % Expected life (years) 2.9 2.9 Volatility 31.10 % 31.90 % Grant price $160.21 $122.73 Fair value per share at date of grant $196.40 $148.29
Stock-based Incentive Plans Compensation Expense	The following table summarizes the Company’s compensation expense relating to all stock-based incentive plans: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Pre-tax stock-based compensation expense $ 6,326 $ 6,660 $ 24,657 $ 25,053 Tax benefit (591) (576) (2,437) (2,357) Total stock-based compensation expense, net of tax $ 5,735 $ 6,084 $ 22,220 $ 22,696

Commitments and Contingent Li_2

Commitments and Contingent Liabilities (Tables)	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Schedule of Product Warranty Liability	The changes in the carrying amount of product warranties through September 30, 2022 and 2021, were as follows: 2022 2021 Beginning Balance, December 31 of the Prior Year $ 48,568 $ 51,088 Provision for warranties 46,096 53,747 Settlements made (46,135) (50,350) Other adjustments, including acquisitions and currency translation (2,233) (1,301) Ending balance, September 30 $ 46,296 $ 53,184

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	9 Months Ended
	Sep. 30, 2022
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
Defined Benefit Plans	The tables below set forth the components of the Company’s net periodic (income) expense relating to retirement benefit plans. The service cost component is recognized within selling, general and administrative expenses and cost of goods and services, depending on the functional area of the underlying employees included in the plans, and the non-operating components of pension costs are included within other income, net in the Condensed Consolidated Statements of Earnings. Qualified Defined Benefits Three Months Ended September 30, Nine Months Ended September 30, U.S. Plan Non-U.S. Plans U.S. Plan Non-U.S. Plans 2022 2021 2022 2021 2022 2021 2022 2021 Service cost $ 1,426 $ 1,784 $ 1,139 $ 1,398 $ 4,278 $ 5,351 $ 3,533 $ 4,238 Interest cost 3,436 3,401 799 674 10,309 10,204 2,529 2,036 Expected return on plan assets (7,276) (7,245) (1,748) (1,793) (21,828) (21,735) (5,454) (5,412) Amortization: Prior service cost (credit) 27 53 (131) (163) 82 159 (395) (494) Recognized actuarial loss 575 2,503 411 979 1,725 7,509 1,305 2,968 Net periodic (income) expense $ (1,812) $ 496 $ 470 $ 1,095 $ (5,434) $ 1,488 $ 1,518 $ 3,336 Non-Qualified Supplemental Benefits Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Service cost $ 356 $ 390 $ 1,069 $ 1,171 Interest cost 304 308 912 924 Amortization: Prior service cost 372 383 1,117 1,148 Recognized actuarial gain (504) (418) (1,512) (1,254) Net periodic expense $ 528 $ 663 $ 1,586 $ 1,989

Other Comprehensive Earnings (T

Other Comprehensive Earnings (Tables)	9 Months Ended
	Sep. 30, 2022
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Amounts Reclassified From Accumulated Other Comprehensive Loss to Earnings	Amounts reclassified from accumulated other comprehensive loss to earnings during the three and nine months ended September 30, 2022 and 2021 were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Foreign currency translation: Reclassification of foreign currency translation losses to earnings for the substantial liquidation of businesses $ — $ — $ 5,915 $ — Tax benefit — — — — Net of tax $ — $ — $ 5,915 $ — Pension plans: Amortization of actuarial losses $ 474 $ 3,064 $ 1,494 $ 9,223 Amortization of prior service costs 271 274 813 823 Total before tax 745 3,338 2,307 10,046 Tax benefit (195) (771) (605) (2,320) Net of tax $ 550 $ 2,567 $ 1,702 $ 7,726 Cash flow hedges: Net gains reclassified into earnings $ (1,661) $ (267) $ (5,035) $ (3,977) Tax provision 371 61 1,124 900 Net of tax $ (1,290) $ (206) $ (3,911) $ (3,077)

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
Revenue and Earnings From Continuing Operations by Market Segment	Segment financial information and a reconciliation of segment results to consolidated results were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Revenue: Engineered Products $ 516,501 $ 447,798 $ 1,518,584 $ 1,318,016 Clean Energy & Fueling 464,022 410,561 1,416,492 1,237,281 Imaging & Identification 282,371 292,535 830,577 870,939 Pumps & Process Solutions 433,558 438,240 1,309,880 1,261,318 Climate & Sustainability Technologies 462,671 429,425 1,295,913 1,232,008 Intersegment eliminations (832) (290) (2,539) (1,716) Total consolidated revenue $ 2,158,291 $ 2,018,269 $ 6,368,907 $ 5,917,846 Net earnings: Segment earnings: Engineered Products $ 90,145 $ 67,376 $ 242,946 $ 215,315 Clean Energy & Fueling 90,208 80,101 262,204 253,103 Imaging & Identification 74,477 70,635 194,467 200,818 Pumps & Process Solutions 128,573 150,275 413,238 425,929 Climate & Sustainability Technologies 75,190 49,734 192,980 150,114 Total segment earnings 458,593 418,121 1,305,835 1,245,279 Purchase accounting expenses (1) 40,526 35,587 140,831 106,265 Restructuring and other costs (benefits) (2) 8,613 (3,201) 27,109 11,740 Loss on dispositions (3) — — 194 — Corporate expense / other (4) 27,876 33,249 93,247 110,332 Interest expense 29,789 26,433 83,330 79,917 Interest income (1,244) (1,466) (2,968) (3,088) Earnings before provision for income taxes 353,033 327,519 964,092 940,113 Provision for income taxes 67,007 63,763 162,295 179,080 Net earnings $ 286,026 $ 263,756 $ 801,797 $ 761,033 (1) Purchase accounting expenses are primarily comprised of amortization of intangible assets and charges related to fair value step-ups for acquired inventory sold during the period. (2) Restructuring and other costs relate to actions taken for employee reductions, facility consolidations and site closures, product line exits, and other asset charges. Restructuring and other costs consist of the following: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Restructuring $ 7,315 $ 4,790 $ 19,781 $ 20,661 Other costs (benefits), net 1,298 (7,991) 7,328 (8,921) Restructuring and other costs (benefits) $ 8,613 $ (3,201) $ 27,109 $ 11,740 (3) Loss on dispositions includes working capital adjustments related to dispositions. (4) Certain expenses are maintained at the corporate level and not allocated to the segments. These expenses include executive and functional compensation costs, non-service pension costs, non-operating insurance expenses, shared business services overhead costs, deal-related expenses and various administrative expenses relating to the corporate headquarters.
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas	The following table presents revenue disaggregated by geography based on the location of the Company's customers: Three Months Ended September 30, Nine Months Ended September 30, Revenue by geography 2022 2021 2022 2021 United States $ 1,252,369 $ 1,108,513 $ 3,656,930 $ 3,235,542 Europe 426,007 452,066 1,331,835 1,356,435 Asia 246,750 222,366 705,252 650,481 Other Americas 166,045 166,230 467,365 468,298 Other 67,120 69,094 207,525 207,090 Total $ 2,158,291 $ 2,018,269 $ 6,368,907 $ 5,917,846

Earnings per Share (Tables)

Earnings per Share (Tables)	9 Months Ended
	Sep. 30, 2022
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 September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Net earnings $ 286,026 $ 263,756 $ 801,797 $ 761,033 Basic earnings per common share: Net earnings $ 2.01 $ 1.83 $ 5.59 $ 5.29 Weighted average shares outstanding 142,506,000 143,976,000 143,469,000 143,895,000 Diluted earnings per common share: Net earnings $ 2.00 $ 1.81 $ 5.55 $ 5.24 Weighted average shares outstanding 143,257,000 145,440,000 144,413,000 145,220,000
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 September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Weighted average shares outstanding - Basic 142,506,000 143,976,000 143,469,000 143,895,000 Dilutive effect of assumed exercise of SARs and vesting of performance shares and RSUs 751,000 1,464,000 944,000 1,325,000 Weighted average shares outstanding - Diluted 143,257,000 145,440,000 144,413,000 145,220,000

Revenue - Narrative (Details)

Revenue - Narrative (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Disaggregation of Revenue [Line Items]
Future performance obligation	$ 318,000
Revenue recognized that was included in the contract liability balance at the beginning of the period	$ 178,098	$ 155,255
Transferred at Point in Time
Disaggregation of Revenue [Line Items]
Remaining performance obligation (in percent)	95%
Transferred over Time
Disaggregation of Revenue [Line Items]
Remaining performance obligation (in percent)	5%

Revenue - Performance Obligatio

Revenue - Performance Obligation (Details)	Sep. 30, 2022
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation (in percent)	73%
Revenue recognized during the period	15 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation (in percent)	27%
Revenue recognized during the period

Revenue - Contract Balances (De

Revenue - Contract Balances (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Contract assets	$ 14,660	$ 11,440	$ 15,020
Contract liabilities - current	246,181	227,549	184,845
Contract liabilities - non-current	$ 20,872	$ 21,513	$ 13,921

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details)

9 Months Ended

Jul. 01, 2022 USD ($)

May 02, 2022 USD ($)

Dec. 28, 2021 USD ($)

Dec. 16, 2021 USD ($)

Sep. 15, 2021 USD ($)

Jul. 23, 2021 USD ($)

Jun. 24, 2021 USD ($)

Jun. 23, 2021 USD ($)

Apr. 19, 2021 USD ($)

Sep. 30, 2022 USD ($) acquisition

Sep. 30, 2021 USD ($) acquisition

Oct. 20, 2022

Business Acquisition [Line Items]

Goodwill acquired

$ 154,016,000

Goodwill increase (decrease)

(1,786,000)

Pumps & Process Solutions

Business Acquisition [Line Items]

Number of business acquisitions | acquisition

1

Goodwill acquired

154,016,000

Goodwill increase (decrease)

$ 0

Series of individually immaterial acquistions

Business Acquisition [Line Items]

Number of business acquisitions | acquisition

2

6

Total consideration, net of cash acquired

$ 229,296,000

$ 179,161,000

Number of business acquisitions with contingent consideration | acquisition

1

Goodwill - tax deductible

29,317,000

Goodwill - non-deductible

$ 83,142,000

Malema Engineering Corporation

Business Acquisition [Line Items]

Total consideration, net of cash acquired

$ 220,843,000

Percentage acquired (in percent)

99.70%

Contingent consideration, earnout financial performance target, each period

12 months

Contingent consideration, earnout financial performance target, maturity period

2 years

Contingent consideration payout minimum

$ 0

Contingent consideration payout maximum

50,000,000

Fair value of contingent liability

0

Goodwill acquired

151,701,000

Intangible assets

84,000,000

Accounts receivable

2,928,000

Goodwill - non-deductible

151,701,000

Malema Engineering Corporation | Subsequent Event

Business Acquisition [Line Items]

Percentage acquired (in percent)

0.30%

Malema Engineering Corporation | Customer intangibles

Business Acquisition [Line Items]

Intangible assets

64,000,000

Malema Engineering Corporation | Patents

Business Acquisition [Line Items]

Intangible assets

16,000,000

Malema Engineering Corporation | Trademarks

Business Acquisition [Line Items]

Intangible assets

$ 4,000,000

AMN DPI

Business Acquisition [Line Items]

Total consideration, net of cash acquired

$ 8,453,000

Percentage acquired (in percent)

100%

Goodwill acquired

$ 2,315,000

Intangible assets

$ 5,349,000

Espy Corporation

Business Acquisition [Line Items]

Total consideration, net of cash acquired

$ 60,457,000

Percentage acquired (in percent)

100%

Goodwill acquired

$ 29,317,000

Intangible assets

$ 21,100,000

CDS Visual, Inc.

Business Acquisition [Line Items]

Total consideration, net of cash acquired

$ 29,147,000

Percentage acquired (in percent)

100%

Goodwill acquired

$ 20,863,000

Intangible assets

$ 9,930,000

Blue Bite

Business Acquisition [Line Items]

Total consideration, net of cash acquired

$ 30,143,000

Percentage acquired (in percent)

100%

Goodwill acquired

$ 20,458,000

Intangible assets

$ 13,250,000

Quantex

Business Acquisition [Line Items]

Total consideration, net of cash acquired

$ 23,747,000

Percentage acquired (in percent)

100%

Goodwill acquired

$ 14,327,000

Intangible assets

$ 11,034,000

AvaLAN

Business Acquisition [Line Items]

Total consideration, net of cash acquired

$ 34,144,000

Percentage acquired (in percent)

100%

Goodwill acquired

$ 26,803,000

Intangible assets

$ 14,630,000

RegO

Business Acquisition [Line Items]

Total consideration, net of cash acquired

$ 626,620,000

Percentage acquired (in percent)

100%

Intangible assets

$ 234,000,000

Accounts receivable

33,900,000

Goodwill - tax deductible

158,894,000

Goodwill - non-deductible

122,301,000

Fair value of trade receivables acquired

34,606,000

Allowance for uncollectable accounts

706,000

Goodwill increase (decrease)

$ 4,219,000

Cash acquired

10,382,000

RegO | Customer intangibles

Business Acquisition [Line Items]

Intangible assets

173,000,000

RegO | Patents

Business Acquisition [Line Items]

Intangible assets

40,000,000

RegO | Trademarks

Business Acquisition [Line Items]

Intangible assets

$ 21,000,000

Acme Cryogenics

Business Acquisition [Line Items]

Total consideration, net of cash acquired

$ 292,285,000

Percentage acquired (in percent)

100%

Intangible assets

$ 127,300,000

Goodwill - non-deductible

164,870,000

Allowance for uncollectable accounts

344,000

Goodwill increase (decrease)

$ (4,339,000)

Gross trade receivables acquired

14,912,000

Acme Cryogenics | Other Current Assets

Business Acquisition [Line Items]

Accounts receivable

14,568,000

Acme Cryogenics | Customer intangibles

Business Acquisition [Line Items]

Intangible assets

99,000,000

Acme Cryogenics | Trademarks

Business Acquisition [Line Items]

Intangible assets

$ 6,500,000

Acquisitions - Purchase Price A

Acquisitions - Purchase Price Allocation (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Jul. 01, 2022	Dec. 31, 2021	Dec. 28, 2021	Dec. 16, 2021
Business Acquisition [Line Items]
Goodwill	$ 4,532,333		$ 4,558,822
Malema Engineering Corporation
Business Acquisition [Line Items]
Accounts receivable		$ 2,928
Current assets, net of cash acquired		8,985
Property, plant and equipment		2,733
Goodwill		151,701
Intangible assets		84,000
Other assets and deferred charges		1,159
Current liabilities		(5,676)
Non-current liabilities		(22,059)
Net assets acquired		$ 220,843
RegO
Business Acquisition [Line Items]
Accounts receivable				$ 33,900
Inventories				72,551
Other current assets				2,958
Property, plant and equipment				50,027
Goodwill				281,195
Intangible assets				234,000
Other assets and deferred charges				884
Current liabilities				(20,150)
Non-current liabilities				(28,745)
Net assets acquired				$ 626,620
Acme Cryogenics
Business Acquisition [Line Items]
Current assets, net of cash acquired					$ 28,332
Property, plant and equipment					8,640
Goodwill					164,870
Intangible assets					127,300
Other assets and deferred charges					5,057
Current liabilities					(7,286)
Non-current liabilities					(34,628)
Net assets acquired					$ 292,285

Acquisitions - Goodwill and Int

Acquisitions - Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands	Jul. 01, 2022	Dec. 28, 2021	Dec. 16, 2021
Malema Engineering Corporation
Business Acquisition [Line Items]
Goodwill - non-deductible	$ 151,701
Intangible assets	84,000
Goodwill and intangible assets	235,701
RegO
Business Acquisition [Line Items]
Goodwill - tax deductible		$ 158,894
Goodwill - non-deductible		122,301
Intangible assets		234,000
Goodwill and intangible assets		515,195
Acme Cryogenics
Business Acquisition [Line Items]
Goodwill - non-deductible			$ 164,870
Intangible assets			127,300
Goodwill and intangible assets			292,170
Customer intangibles | Malema Engineering Corporation
Business Acquisition [Line Items]
Intangible assets	$ 64,000
Useful life (in years)	15 years
Customer intangibles | RegO
Business Acquisition [Line Items]
Intangible assets		$ 173,000
Useful life (in years)		15 years
Customer intangibles | Acme Cryogenics
Business Acquisition [Line Items]
Intangible assets			$ 99,000
Useful life (in years)			15 years
Patents | Malema Engineering Corporation
Business Acquisition [Line Items]
Intangible assets	$ 16,000
Useful life (in years)	10 years
Patents | RegO
Business Acquisition [Line Items]
Intangible assets		$ 40,000
Useful life (in years)		12 years
Unpatented technologies | Acme Cryogenics
Business Acquisition [Line Items]
Intangible assets			$ 21,800
Useful life (in years)			12 years
Trademarks | Malema Engineering Corporation
Business Acquisition [Line Items]
Intangible assets	$ 4,000
Useful life (in years)	15 years
Trademarks | RegO
Business Acquisition [Line Items]
Intangible assets		$ 21,000
Useful life (in years)		16 years
Trademarks | Acme Cryogenics
Business Acquisition [Line Items]
Intangible assets			$ 6,500
Useful life (in years)			16 years

Inventories, net (Details)

Inventories, net (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Inventory, Net [Abstract]
Raw materials	$ 781,168	$ 671,195
Work in progress	311,819	271,659
Finished goods	446,098	377,800
Subtotal	1,539,085	1,320,654
Less reserves	(131,288)	(129,559)
Total	$ 1,407,797	$ 1,191,095

Property, Plant and Equipment_3

Property, Plant and Equipment, net (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 2,481,446		$ 2,481,446		$ 2,462,443
Accumulated depreciation	(1,522,552)		(1,522,552)		(1,505,133)
Property, plant and equipment, net	958,894		958,894		957,310
Depreciation expense	36,889	$ 36,913	111,274	$ 111,152
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	60,706		60,706		63,656
Buildings and improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	571,851		571,851		582,314
Machinery, equipment and other
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 1,848,889		$ 1,848,889		$ 1,816,473

Credit Losses - Rollforward (De

Credit Losses - Rollforward (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance, December 31 of the Prior Year	$ 40,126	$ 40,474
Provision for expected credit losses, net of recoveries	2,791	4,744
Amounts written off charged against the allowance	(3,320)	(3,991)
Other, including foreign currency translation	(3,202)	371
Ending balance, September 30	$ 36,395	$ 41,598

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Goodwill (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 4,558,822
Acquisitions	154,016
Measurement period adjustments	(1,786)
Foreign currency translation	(178,719)
Ending balance	4,532,333
Engineered Products
Goodwill [Roll Forward]
Beginning balance	723,283
Acquisitions	0
Measurement period adjustments	(286)
Foreign currency translation	(21,852)
Ending balance	701,145
Clean Energy & Fueling
Goodwill [Roll Forward]
Beginning balance	1,427,691
Acquisitions	0
Measurement period adjustments	44
Foreign currency translation	(70,344)
Ending balance	1,357,391
Imaging & Identification
Goodwill [Roll Forward]
Beginning balance	1,106,202
Acquisitions	0
Measurement period adjustments	(1,544)
Foreign currency translation	(56,274)
Ending balance	1,048,384
Pumps & Process Solutions
Goodwill [Roll Forward]
Beginning balance	792,839
Acquisitions	154,016
Measurement period adjustments	0
Foreign currency translation	(27,867)
Ending balance	918,988
Climate & Sustainability Technologies
Goodwill [Roll Forward]
Beginning balance	508,807
Acquisitions	0
Measurement period adjustments	0
Foreign currency translation	(2,382)
Ending balance	$ 506,425

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Finite-Lived Intangible Assets [Line Items]
Goodwill acquired			$ 154,016
Measurement period adjustments			(1,786)
Amortization of Intangible Assets	$ 39,625	$ 35,998	119,534	$ 107,084
Electric Refuse Collection Vehicles
Finite-Lived Intangible Assets [Line Items]
Purchase price			29,750
Contingent consideration			$ 20,000

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Intangibles and Amortization Expense (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 2,657,166	$ 2,654,351
Accumulated Amortization	1,440,569	1,391,538
Net Carrying Amount	1,216,597	1,262,813
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Total, Gross Carrying Amount	2,753,570	2,751,060
Accumulated Amortization	1,440,569	1,391,538
Total, Net Carrying Amount	1,313,001	1,359,522
Foreign currency translation	48,200
Trademarks
Indefinite-lived Intangible Assets by Major Class [Line Items]
Unamortized intangible assets:	96,404	96,709
Customer intangibles
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	1,819,083	1,829,492
Accumulated Amortization	947,490	909,776
Net Carrying Amount	871,593	919,716
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	947,490	909,776
Trademarks
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	257,029	263,367
Accumulated Amortization	125,754	116,633
Net Carrying Amount	131,275	146,734
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	125,754	116,633
Patents
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	215,500	205,910
Accumulated Amortization	141,621	140,327
Net Carrying Amount	73,879	65,583
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	141,621	140,327
Unpatented technologies
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	243,792	221,239
Accumulated Amortization	129,646	123,464
Net Carrying Amount	114,146	97,775
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	129,646	123,464
Distributor relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	74,812	84,204
Accumulated Amortization	53,594	55,260
Net Carrying Amount	21,218	28,944
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	53,594	55,260
Drawings and manuals
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	24,447	27,792
Accumulated Amortization	24,447	27,303
Net Carrying Amount	0	489
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	24,447	27,303
Other
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	22,503	22,347
Accumulated Amortization	18,017	18,775
Net Carrying Amount	4,486	3,572
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	$ 18,017	$ 18,775

Restructuring Activities (Detai

Restructuring Activities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 7,315	$ 4,790	$ 19,781	$ 20,661
Restructuring Reserve [Roll Forward]
Balance at December 31, 2021			13,797
Restructuring charges			19,781
Payments			(14,890)
Other, including foreign currency translation			(7,807)
Balance at September 30, 2022	10,881		10,881
Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring charges	1,242	200	1,537	1,182
Severance
Restructuring Reserve [Roll Forward]
Balance at December 31, 2021			10,730
Restructuring charges			8,421
Payments			(10,637)
Other, including foreign currency translation			(862)
Balance at September 30, 2022	7,652		7,652
Exit
Restructuring Reserve [Roll Forward]
Balance at December 31, 2021			3,067
Restructuring charges			11,360
Payments			(4,253)
Other, including foreign currency translation			(6,945)
Balance at September 30, 2022	3,229		3,229
Cost of goods and services
Restructuring Cost and Reserve [Line Items]
Restructuring charges	2,082	2,194	3,326	10,940
Selling, general and administrative expenses
Restructuring Cost and Reserve [Line Items]
Restructuring charges	5,233	2,596	16,455	9,721
Engineered Products | Operating Segments
Restructuring Cost and Reserve [Line Items]
Restructuring charges	2,027	870	3,008	9,200
Clean Energy & Fueling | Operating Segments
Restructuring Cost and Reserve [Line Items]
Restructuring charges	3,063	1,620	4,682	3,084
Imaging & Identification | Operating Segments
Restructuring Cost and Reserve [Line Items]
Restructuring charges	516	168	2,051	1,032
Pumps & Process Solutions | Operating Segments
Restructuring Cost and Reserve [Line Items]
Restructuring charges	552	639	2,713	1,526
Climate & Sustainability Technologies | Operating Segments
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ (85)	$ 1,293	$ 5,790	$ 4,637

Borrowings - Short Term Debt (D

Borrowings - Short Term Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Short-term Debt [Line Items]
Short-term borrowings	$ 788,860	$ 105,702
Commercial paper
Short-term Debt [Line Items]
Short-term borrowings	788,034	105,000
Other
Short-term Debt [Line Items]
Short-term borrowings	$ 826	$ 702

Borrowings - Long Term Debt (De

Borrowings - Long Term Debt (Details) € in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($)	Sep. 30, 2022 EUR (€)	Dec. 31, 2021 USD ($)
Long-term borrowings [Abstract]
Total long-term debt	$ 2,842,662,000		$ 3,018,714,000
Unamortized debt discounts	12,800,000		15,100,000
Deferred debt issuance costs	11,200,000		$ 12,500,000
Maximum borrowing capacity	$ 1,000,000,000
Interest coverage ratio	1,750%
Outstanding letters of credit	$ 168,000,000
Commercial paper
Long-term borrowings [Abstract]
Increase in borrowings	$ 683,034,000
Weighted average interest rate	3.34%	3.34%	0.38%
3.15% 10-year notes due November 15, 2025
Long-term borrowings [Abstract]
Stated interest rate	3.15%	3.15%
Term of debt	10 years
Principal	$ 400,000,000
Total long-term debt	$ 397,895,000		$ 397,389,000
1.25% 10-year notes due November 9, 2026 (euro-denominated)
Long-term borrowings [Abstract]
Stated interest rate	1.25%	1.25%
Term of debt	10 years
Principal | €		€ 600,000
Total long-term debt	$ 577,288,000		674,217,000
0.750% 8-year notes due November 4, 2027 (euro-denominated)
Long-term borrowings [Abstract]
Stated interest rate	0.75%	0.75%
Term of debt	8 years
Principal | €		€ 500,000
Total long-term debt	$ 480,484,000		561,293,000
6.65% 30-year debentures due June 1, 2028
Long-term borrowings [Abstract]
Stated interest rate	6.65%	6.65%
Term of debt	30 years
Principal	$ 200,000,000
Total long-term debt	$ 199,431,000		199,356,000
2.950% 10-year notes due November 4, 2029
Long-term borrowings [Abstract]
Stated interest rate	2.95%	2.95%
Term of debt	10 years
Principal	$ 300,000,000
Total long-term debt	$ 297,313,000		297,029,000
5.375% 30-year debentures due October 15, 2035
Long-term borrowings [Abstract]
Stated interest rate	5.375%	5.375%
Term of debt	30 years
Principal	$ 300,000,000
Total long-term debt	$ 296,746,000		296,559,000
6.60% 30-year notes due March 15, 2038
Long-term borrowings [Abstract]
Stated interest rate	6.60%	6.60%
Term of debt	30 years
Principal	$ 250,000,000
Total long-term debt	$ 248,251,000		248,166,000
5.375% 30-year notes due March 1, 2041
Long-term borrowings [Abstract]
Stated interest rate	5.375%	5.375%
Term of debt	30 years
Principal	$ 350,000,000
Total long-term debt	344,913,000		344,705,000
Other
Long-term borrowings [Abstract]
Total long-term debt	$ 341,000		0
Credit Agreement | Revolving Credit Facility
Long-term borrowings [Abstract]
Term of debt	5 years
Interest coverage ratio required	300%
Borrowings under credit facility	$ 0		$ 0

Financial Instruments - Narrati

Financial Instruments - Narrative (Details) $ in Thousands	Sep. 30, 2022 USD ($)	Sep. 30, 2022 EUR (€)	Dec. 31, 2021 USD ($)
Estimate of Fair Value Measurement
Derivatives, Fair Value [Line Items]
Fair value of long-term debt	$ 2,658,903		$ 3,440,501
Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Notional Amount	163,384		180,929
Designated as Hedging Instrument | 0.750% 8-year notes due November 4, 2027 (euro denominated)
Derivatives, Fair Value [Line Items]
Principal | €		€ 500,000,000
Designated as Hedging Instrument | 1.25% 10-year notes due November 9, 2026 (euro-denominated)
Derivatives, Fair Value [Line Items]
Principal | €		€ 600,000,000
Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Notional Amount	$ 112,646		$ 108,736

Financial Instruments - Balance

Financial Instruments - Balance Sheet Location (Details) - Foreign currency forward - Designated as Hedging Instrument - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Prepaid and other current assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value Asset	$ 3,866	$ 2,825
Other accrued expenses
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value Liability	$ (5,377)	$ (433)

Financial Instruments - Gain (D

Financial Instruments - Gain (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Gain on euro-denominated debt	$ 94,731	$ 24,032	$ 179,221	$ 51,571
Tax expense	(21,020)	(5,446)	(39,990)	(11,669)
Net gain on net investment hedges, net of tax	$ 73,711	$ 18,586	$ 139,231	$ 39,902

Financial Instruments - Fair Va

Financial Instruments - Fair Value (Details) - Level 2 - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Assets:
Foreign currency cash flow hedges	$ 3,866	$ 2,825
Liabilities:
Foreign currency cash flow hedges	$ 5,377	$ 433

Income Taxes (Details)

Income Taxes (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Effective tax rate (in percent)	19%	19.50%	16.80%	19%
Decrease in the effective tax rate			$ 22,600,000
Minimum
Significant change in unrecognized tax benefits is reasonably possible, estimated range of change, lower bound	$ 0		0
Maximum
Significant change in unrecognized tax benefits is reasonably possible, estimated range of change, lower bound	$ 4,800,000		$ 4,800,000

Equity Incentive Program (Detai

Equity Incentive Program (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Stock-based compensation expense [Abstract]
Pre-tax stock-based compensation expense	$ 6,326	$ 6,660	$ 24,657	$ 25,053
Tax benefit	(591)	(576)	(2,437)	(2,357)
Total stock-based compensation expense, net of tax	$ 5,735	$ 6,084	$ 22,220	$ 22,696
Stock Appreciation Rights (SARs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity awards issued during period (in shares)			335,285
Risk-free interest rate			1.86%	0.59%
Dividend yield			1.25%	1.62%
Expected life (years)			5 years 4 months 24 days	5 years 6 months
Volatility			29.46%	30.49%
Grant price (in dollars per share)			$ 160.21	$ 122.73
Fair value at date of grant (in dollars per share)			$ 42.07	$ 29.08
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity awards issued during period (in shares)			40,087
Risk-free interest rate			1.68%	0.19%
Dividend yield			1.25%	1.62%
Expected life (years)			2 years 10 months 24 days	2 years 10 months 24 days
Volatility			31.10%	31.90%
Grant price (in dollars per share)			$ 160.21	$ 122.73
Fair value at date of grant (in dollars per share)			$ 196.40	148.29
Award vesting period			3 years
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity awards issued during period (in shares)			79,556
Fair value at date of grant (in dollars per share)			$ 160.21	$ 122.73

Commitments and Contingent Li_3

Commitments and Contingent Liabilities (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Balance at December 31, 2021	$ 48,568	$ 51,088
Provision for warranties	46,096	53,747
Settlements made	(46,135)	(50,350)
Other adjustments, including acquisitions and currency translation	(2,233)	(1,301)
Ending balance, September 30	$ 46,296	$ 53,184

Employee Benefit Plans (Details

Employee Benefit Plans (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Net periodic benefit cost [Abstract]
Defined contribution plan expense	$ 14,044	$ 15,001	$ 46,301	$ 46,114
Nonqualified Plan
Net periodic benefit cost [Abstract]
Service cost	356	390	1,069	1,171
Interest cost	304	308	912	924
Prior service cost (credit)	372	383	1,117	1,148
Recognized actuarial loss	(504)	(418)	(1,512)	(1,254)
Net periodic (income) expense	528	663	1,586	1,989
U.S. Plan | Qualified Plan
Net periodic benefit cost [Abstract]
Service cost	1,426	1,784	4,278	5,351
Interest cost	3,436	3,401	10,309	10,204
Expected return on plan assets	(7,276)	(7,245)	(21,828)	(21,735)
Prior service cost (credit)	27	53	82	159
Recognized actuarial loss	575	2,503	1,725	7,509
Net periodic (income) expense	(1,812)	496	(5,434)	1,488
Non-U.S. Plans | Qualified Plan
Net periodic benefit cost [Abstract]
Service cost	1,139	1,398	3,533	4,238
Interest cost	799	674	2,529	2,036
Expected return on plan assets	(1,748)	(1,793)	(5,454)	(5,412)
Prior service cost (credit)	(131)	(163)	(395)	(494)
Recognized actuarial loss	411	979	1,305	2,968
Net periodic (income) expense	$ 470	$ 1,095	$ 1,518	$ 3,336

Other Comprehensive Earnings (D

Other Comprehensive Earnings (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Selling, general and administrative expenses	$ 402,339	$ 412,553	$ 1,270,615	$ 1,249,593
Other income, net	(11,167)	(10,460)	(17,842)	(18,236)
Earnings before provision for income taxes	(353,033)	(327,519)	(964,092)	(940,113)
Tax benefit	67,007	63,763	162,295	179,080
Net earnings	(286,026)	(263,756)	(801,797)	(761,033)
Reclassification out of Accumulated Other Comprehensive Income | Foreign currency translation:
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Selling, general and administrative expenses	0	0	5,915	0
Tax benefit	0	0	0	0
Net earnings	0	0	5,915	0
Reclassification out of Accumulated Other Comprehensive Income | Pension plans:
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Earnings before provision for income taxes	745	3,338	2,307	10,046
Tax benefit	(195)	(771)	(605)	(2,320)
Net earnings	550	2,567	1,702	7,726
Reclassification out of Accumulated Other Comprehensive Income | Amortization of actuarial losses
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other income, net	474	3,064	1,494	9,223
Reclassification out of Accumulated Other Comprehensive Income | Amortization of prior service costs
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other income, net	271	274	813	823
Reclassification out of Accumulated Other Comprehensive Income | Cash flow hedges:
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Earnings before provision for income taxes	(1,661)	(267)	(5,035)	(3,977)
Tax benefit	371	61	1,124	900
Net earnings	$ (1,290)	$ (206)	$ (3,911)	$ (3,077)

Segment Information (Details)

Segment Information (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) segment	Sep. 30, 2021 USD ($)
Segment Reporting [Abstract]
Number of reportable segments | segment			5
Reconciliation from Segment Totals to Consolidated [Abstract]
Revenue	$ 2,158,291	$ 2,018,269	$ 6,368,907	$ 5,917,846
Earnings before provision for income taxes	353,033	327,519	964,092	940,113
Purchase accounting expenses	40,526	35,587	140,831	106,265
Restructuring and other costs (benefits)	8,613	(3,201)	27,109	11,740
Loss on dispositions	0	0	194	0
Interest expense	29,789	26,433	83,330	79,917
Interest income	(1,244)	(1,466)	(2,968)	(3,088)
Provision for income taxes	67,007	63,763	162,295	179,080
Net earnings	286,026	263,756	801,797	761,033
Restructuring	7,315	4,790	19,781	20,661
Other costs (benefits), net	1,298	(7,991)	7,328	(8,921)
Restructuring and other costs (benefits)	8,613	(3,201)	27,109	11,740
Operating Segments
Reconciliation from Segment Totals to Consolidated [Abstract]
Earnings before provision for income taxes	458,593	418,121	1,305,835	1,245,279
Intersegment eliminations
Reconciliation from Segment Totals to Consolidated [Abstract]
Revenue	(832)	(290)	(2,539)	(1,716)
Corporate
Reconciliation from Segment Totals to Consolidated [Abstract]
Corporate expense / other	27,876	33,249	93,247	110,332
Restructuring	1,242	200	1,537	1,182
United States
Reconciliation from Segment Totals to Consolidated [Abstract]
Revenue	1,252,369	1,108,513	3,656,930	3,235,542
Europe
Reconciliation from Segment Totals to Consolidated [Abstract]
Revenue	426,007	452,066	1,331,835	1,356,435
Asia
Reconciliation from Segment Totals to Consolidated [Abstract]
Revenue	246,750	222,366	705,252	650,481
Other Americas
Reconciliation from Segment Totals to Consolidated [Abstract]
Revenue	166,045	166,230	467,365	468,298
Other
Reconciliation from Segment Totals to Consolidated [Abstract]
Revenue	67,120	69,094	207,525	207,090
Engineered Products | Operating Segments
Reconciliation from Segment Totals to Consolidated [Abstract]
Revenue	516,501	447,798	1,518,584	1,318,016
Earnings before provision for income taxes	90,145	67,376	242,946	215,315
Restructuring	2,027	870	3,008	9,200
Clean Energy & Fueling | Operating Segments
Reconciliation from Segment Totals to Consolidated [Abstract]
Revenue	464,022	410,561	1,416,492	1,237,281
Earnings before provision for income taxes	90,208	80,101	262,204	253,103
Restructuring	3,063	1,620	4,682	3,084
Imaging & Identification | Operating Segments
Reconciliation from Segment Totals to Consolidated [Abstract]
Revenue	282,371	292,535	830,577	870,939
Earnings before provision for income taxes	74,477	70,635	194,467	200,818
Restructuring	516	168	2,051	1,032
Pumps & Process Solutions | Operating Segments
Reconciliation from Segment Totals to Consolidated [Abstract]
Revenue	433,558	438,240	1,309,880	1,261,318
Earnings before provision for income taxes	128,573	150,275	413,238	425,929
Restructuring	552	639	2,713	1,526
Climate & Sustainability Technologies | Operating Segments
Reconciliation from Segment Totals to Consolidated [Abstract]
Revenue	462,671	429,425	1,295,913	1,232,008
Earnings before provision for income taxes	75,190	49,734	192,980	150,114
Restructuring	$ (85)	$ 1,293	$ 5,790	$ 4,637

Share Repurchases (Details)

Share Repurchases (Details) - USD ($)		3 Months Ended	9 Months Ended
	Sep. 01, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Aug. 31, 2022
Share Repurchases [Line Items]
Purchase of common stock			$ 585,000,000	$ 21,637,000
Remaining number of shares authorized to be repurchased (in shares)			15,974,596
November 2020 Authorization
Share Repurchases [Line Items]
Number of shares authorized to be repurchased (in shares)			20,000,000
Share repurchases (in shares)		0	641,428	182,951
Purchase of common stock			$ 85,000,000	$ 21,637,000
Repurchase price (in dollars per share)			$ 132.52	$ 118.27
August 2022 ASR Agreement
Share Repurchases [Line Items]
Payment for ASR agreement	$ 500,000,000				$ 500,000,000
Share repurchases (in shares)	3,201,025

Earnings per Share (Details)

Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Reconciliation of information used in computing basic and diluted earnings per share [Abstract]
Net earnings	$ 286,026	$ 263,756	$ 801,797	$ 761,033
Basic earnings per common share:
Net earnings (in dollars per share)	$ 2.01	$ 1.83	$ 5.59	$ 5.29
Weighted average shares outstanding (in shares)	142,506	143,976	143,469	143,895
Diluted earnings per common share:
Net earnings (in dollars per share)	$ 2	$ 1.81	$ 5.55	$ 5.24
Weighted average shares outstanding (in shares)	143,257	145,440	144,413	145,220
Reconciliation Of Share Amounts Used In Computing Earnings Per Share [Abstract]
Weighted average shares outstanding - basic (in shares)	142,506	143,976	143,469	143,895
Dilutive effect of assumed exercise of SARs and vesting of performance shares and RSUs (in shares)	751	1,464	944	1,325
Weighted average shares outstanding - diluted (in shares)	143,257	145,440	144,413	145,220
Antidilutive securities excluded from computation of earnings per share	19	1	28	57