Discontinued and Disposed Operations

12 Months Ended

Dec. 31, 2025

Discontinued Operations and Disposal Groups [Abstract]

4. Discontinued and Disposed Operations

Management evaluates Dover's businesses periodically for their strategic fit within its operations and may from time to time sell or discontinue certain operations for various reasons.

Discontinued Operations

On October 8, 2024 the Company completed the sale of the ESG business, an operating company within the Engineered Products segment, to Terex Corporation for total consideration, net of cash transferred, of $2.0 billion. The ESG sale qualifies for discontinued operations reporting because its disposal represented a strategic shift with a major effect on the Company's operations and financial results. As a result, the Company has classified the results of operations as discontinued operations in the consolidated statements of earnings and in the consolidated statements of cash flows for the years ended December 31, 2025, 2024, and 2023. For the year ended December 31, 2024, this sale resulted in a preliminary pre-tax gain on disposition of $1.6 billion ($1.2 billion after-tax), included within earnings from discontinued operations, net in the consolidated statements of earnings. For the year ended December 31, 2025, net working capital adjustments of $9,796 ($7,739 after-tax), other post-closing adjustments of $3,866 ($3,066 after-tax), and a tax benefit of $7,332 related to the final accrual on the disposition gain were recorded resulting in a loss from discontinued operations, net of $3,473 in the consolidated statements of earnings.

In June 2025, a jury returned a verdict against the ESG business for approximately $58.9 million in connection with litigation involving alleged breach of contract and inducement of breach of fiduciary duty claims arising from certain product development efforts. ESG has filed post-trial motions and, if necessary, will file an appeal with the U.S. Court of Appeals for the Seventh Circuit. The Company has not recognized an expense in connection with this matter because it does not currently believe a loss is probable.

Summarized results of the Company's discontinued operations are as follows:


	Years Ended December 31,
	2025		2024 (1)		2023
Revenue	$	—	$	678,415	$	753,658
Cost of goods and services	—		479,671		536,569
Gross profit	—		198,744		217,089
Selling, general and administrative expenses	—		68,677		70,086

Operating earnings	—		130,067		147,003


Loss (gain) on disposition	13,662		(1,640,948)		—
Other expense (income), net	—		704		(3)
(Loss) earnings from discontinued operations before provision for income taxes	(13,662)		1,770,311		147,006
(Benefit) provision for income taxes	(10,189)		473,153		34,042
(Loss) earnings from discontinued operations, net	$	(3,473)	$	1,297,158	$	112,964

(1) Reflects the results of the ESG business through the date of disposition on October 8th, 2024.

2025 Dispositions

There were no dispositions in 2025.

2024 Dispositions

On March 31, 2024, the Company completed the sale of the De-Sta-Co business, an operating company within the Engineered Products segment, for total consideration, net of cash transferred, of $675,885. This sale resulted in a pre-tax gain on disposition of $530,349 ($415,376 after-tax) included within the consolidated statements of earnings for the year ended December 31, 2024. The sale did not meet the criteria to be classified as a discontinued operation, as it did not represent a strategic shift that would have a major effect on operations and financial results.

On September 30, 2024, a minority owned equity method investment held within the Climate & Sustainability Technologies segment was sold and the Company received its proportionate share of the proceeds amounting to $92,962. The sale resulted in pre-tax gain of $67,449 ($47,008 after-tax) and included within the consolidated statements of earnings for the year ended December 31, 2024.

2023 Dispositions

There was one immaterial disposition in 2023.