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For Dover corporation, (DOV-NYSE)using the financial statements. Answer the following questions, 1) Describe the financial liabilities of your firm, type, rate and term 2) Describe all leasing, rents and fixed obligations off balance 3) Again, having all these information If you were a Banker are you willing to lend to your company? Use the format below to support your answers.
Question # / Answer Calculation or Ratio Used Reason or Logic used
DOVER CORPORATION CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (In thousands, except per share amounts) Accumulated Commen Additional Other Total Stock Si Par Paid-In Treasury Retained Comprehensive Stockholders' Value Capital Stock Earnings Earnings (Loss) Equity $ 256,538 $ 946,755 S (4,972,016) $ 7,927,795 $ (359,326) S 3,799,746 811,665 811,665 (283,959) (283,959) 454 (18,897) (18,443) 26,528 26,528 (105,023) (105,023) Balance at December 31, 2016 Net earnings Dividends paid (51.82 per share) Common stock issued for the exercise of share-based awards Stock-based compensation expense Common stock acquired Other comprehensive earnings, net of tax Other Balance at December 31, 2017 Adoption of ASU 2018-02 Cumulative catch-up adjustment related to Adoption of Topic 606 Net earnings Dividends paid (51.90 per share) 164,567 (11,901) 942.485 164,567 (11,901) 4.383.180 256.992 15.077,039) 8.455 501 12.856 (194.759) (12.856) 175 570.267 (283,570) 175 570,267 (283,570) TITIL (939,743) 32,928 (906,815) Separation of Apergy Common stock issued for the exercise of share-based awards 30 (47,084) (46,254) Stock-based compensation expense Common stock acquired Other comprehensive loss, net of 24,442 (24,454) 24,442 (894,977) (870,523) -- - (68,409) (9,373) 886,016 257,822 (5.947,562) (243,096) Other Balance at December 31, 2018 Net earnings Dividends paid ($1.94 per share) Common stock issued for the exercise of share-based awards 7.815,486 677,918 (282,197) (68,409) (9.373) 2.768.666 677,918 (282,197) 730 (38,100) (37,370) 29,702 29,702 (143,280) (143.280) Stock-based compensation expense Common stock acquired Other comprehensive earnings, net of tax Other Balance at December 31, 2019 27,070 (7,899) 50 869,719 S (6,090,842) S 8,211,257 27,070 (7,849) 3,032.660 258,552 (216,026) S See Notes to Consolidated Financial Statements 65 DOVER CORPORATION CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands) Years Ended December 31, 2015 2017 Operating Activities of Continuing Operations Net earnings s 677,918 S 570,267 811,665 Adjustments to reconcile net earnings to cash from operating activities: Loss (earnings) from discontinued operations, net 20,878 (65,002) Loss on assets held for sale 46,946 Loss on extinguishment of debt 23,543 Depreciation and amortization 272,287 282,580 283.278 Stock-based compensation 29,702 23,698 24,073 Gain on sale of businesses (203,135) Provision for losses on accounts receivable (net of recoveries) 5,933 3,875 10.341 Deferred income taxes (11,966) (35,448) (160,395) Employee benefit plan expense 5,844 11,912 12,191 Contributions to employee benefit plans (21,436) (25,933) (18,588) Othernet (3,652) (6,762) (4,216) Cash effect of changes in assets and liabilities (excluding effects of acquisitions, dispositions and foreign exchange): Accounts receivable (7,903) (87,573) (43,450) Inventories (56,870) (85,052) 605 Prepaid expenses and other assets (25,797) (5.232) Accounts payable 18,270 106,561 94,052 Accrued compensation and employee benefits 15,580 (7,037) 23,319 Accrued expenses and other liabilities (12.656) (5.026) (36,024) Accrued taxes (10.437) 29,706 15.927 Net cash provided by operating activities of continuing operations 945,306 789,193 739.409 Investing Activities of Continuing Operations Additions to property, plant and equipment (186,804) (170,994) (170,068) Acquisitions (net of cash and cash equivalents acquired) (215,687) (68,557) (27,188) Proceeds from sale of property, plant and equipment 4,168 5,908 11,774 Proceeds from sale of businesses 24,218 3,937 372,666 Other (10.150) (15.774) 21.151 Net cash (used in provided by investing activities of continuing operations (384.255) 245.4NO) 208335 Financing Activities of Continuing Operations Cash received from Apergy, net of cash distributed 689,643 Change in commercial paper and notes payable.net (135,650) (10,722) (182.596) Proceeds from long-term debt 847,469 Repayment of long-term debt (805,112) (350.000) Dividends to stockholders (282,197) (283,570) (283,959) Purchase of common stock (143,280) (894,977) (105,023) Payments for employee tax obligations upon exercise of share-based awards (37,370) (46,254) (18,443) Other (1.902) (1.958) 2.912) Net cash used in financing activities of continuing operations (558,042) (897.838) (592.913 Cash Flows from Discontinued Operations Net cash provided by operating activities of discontinued operations 9,442 96.225 Net cash used in investing activities of discontinued operations (23.705) (46,484) Net cash used in financing activities of discontinued operations (1.208) Net cash (used in) provided by discontinued operations 48.533 Effect of exchange rate changes on cash and cash equivalents (1.977 10.645 1.474 Net (decrease) increase in cash and cash equivalents 1,022 (357,743) 404,818 Cash and cash equivalents at beginning of year 396,221 753,964 349.146 Cash and cash equivalents at end of year 397,2535 396. ALS 753.964 Supplemental information - cash paid during the year for: Income taxes $ 191,084 S 135,427 s 337.987 Interest 126,753 131,823 140,863 See Notes to Consolidated Financial Statements 66 DOVER CORPORATION CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS (In thousands) Years Ended December 31, 2019 2018 2017 Net earnings 677,918 $570,267 S 811,665 Other comprehensive earnings (loss), net of tax Foreign currency translation adjustments Foreign currency translation (losses) gains (5,025) (59.970) 143,064 Reclassification of foreign currency translation losses to earnings 25,339 3.992 Total foreign currency translation adjustments 20,314 (59.970) 147,056 Pension and other postretirement benefit plans: Actuarial gains (losses) 47 (13,107) 12,439 Prior service credit (cost) 1,818 (14,661) 3.136 Amortization of actuarial losses included in net periodic pension cost 596 3,829 5.267 Amortization of prior service costs included in net periodie pension cost 2.141 2.875 3,007 Settlement and curtailment impact 806 9.926 (2.462) Total pension and other postretirement benefit plans 5.408 (11,138) 21,387 Changes in fair value of cash flow hedges: Unrealized net gains (losses) 1.495 1.158 (1.801) Net (gains) losses reclassified into earnings (147) 1,541 (590) Total cash flow hedges 1,348 2,699 (2,391) Other (1.485) Other comprehensive earnings (loss), net of tax 27,070 (68,409) 164,567 Comprehensive earnings 704.988 50.858 S 976.232 See Notes to Consolidated Financial Statements DOVER CORPORATION CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands) Years Ended December 31, 2015 2017 Operating Activities of Continuing Operations Net earnings s 677,918 S 570,267 811,665 Adjustments to reconcile net earnings to cash from operating activities: Loss (earnings) from discontinued operations, net 20,878 (65,002) Loss on assets held for sale 46,946 Loss on extinguishment of debt 23,543 Depreciation and amortization 272,287 282,580 283.278 Stock-based compensation 29,702 23,698 24,073 Gain on sale of businesses (203,135) Provision for losses on accounts receivable (net of recoveries) 5,933 3,875 10.341 Deferred income taxes (11,966) (35,448) (160,395) Employee benefit plan expense 5,844 11,912 12,191 Contributions to employee benefit plans (21,436) (25,933) (18,588) Othernet (3,652) (6,762) (4,216) Cash effect of changes in assets and liabilities (excluding effects of acquisitions, dispositions and foreign exchange): Accounts receivable (7,903) (87,573) (43,450) Inventories (56,870) (85,052) 605 Prepaid expenses and other assets (25,797) (5.232) Accounts payable 18,270 106,561 94,052 Accrued compensation and employee benefits 15,580 (7,037) 23,319 Accrued expenses and other liabilities (12.656) (5.026) (36,024) Accrued taxes (10.437) 29,706 15.927 Net cash provided by operating activities of continuing operations 945,306 789,193 739.409 Investing Activities of Continuing Operations Additions to property, plant and equipment (186,804) (170,994) (170,068) Acquisitions (net of cash and cash equivalents acquired) (215,687) (68,557) (27,188) Proceeds from sale of property, plant and equipment 4,168 5,908 11,774 Proceeds from sale of businesses 24,218 3,937 372,666 Other (10.150) (15.774) 21.151 Net cash (used in provided by investing activities of continuing operations (384.255) 245.4NO) 208335 Financing Activities of Continuing Operations Cash received from Apergy, net of cash distributed 689,643 Change in commercial paper and notes payable.net (135,650) (10,722) (182.596) Proceeds from long-term debt 847,469 Repayment of long-term debt (805,112) (350.000) Dividends to stockholders (282,197) (283,570) (283,959) Purchase of common stock (143,280) (894,977) (105,023) Payments for employee tax obligations upon exercise of share-based awards (37,370) (46,254) (18,443) Other (1.902) (1.958) 2.912) Net cash used in financing activities of continuing operations (558,042) (897.838) (592.913 Cash Flows from Discontinued Operations Net cash provided by operating activities of discontinued operations 9,442 96.225 Net cash used in investing activities of discontinued operations (23.705) (46,484) Net cash used in financing activities of discontinued operations (1.208) Net cash (used in) provided by discontinued operations 48.533 Effect of exchange rate changes on cash and cash equivalents (1.977 10.645 1.474 Net (decrease) increase in cash and cash equivalents 1,022 (357,743) 404,818 Cash and cash equivalents at beginning of year 396,221 753,964 349.146 Cash and cash equivalents at end of year 397,2535 396. ALS 753.964 Supplemental information - cash paid during the year for: Income taxes $ 191,084 S 135,427 s 337.987 Interest 126,753 131,823 140,863 See Notes to Consolidated Financial Statements 66 DOVER CORPORATION CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS (In thousands) Years Ended December 31, 2019 2018 2017 Net earnings 677,918 $570,267 S 811,665 Other comprehensive earnings (loss), net of tax Foreign currency translation adjustments Foreign currency translation (losses) gains (5,025) (59.970) 143,064 Reclassification of foreign currency translation losses to earnings 25,339 3.992 Total foreign currency translation adjustments 20,314 (59.970) 147,056 Pension and other postretirement benefit plans: Actuarial gains (losses) 47 (13,107) 12,439 Prior service credit (cost) 1,818 (14,661) 3.136 Amortization of actuarial losses included in net periodic pension cost 596 3,829 5.267 Amortization of prior service costs included in net periodie pension cost 2.141 2.875 3,007 Settlement and curtailment impact 806 9.926 (2.462) Total pension and other postretirement benefit plans 5.408 (11,138) 21,387 Changes in fair value of cash flow hedges: Unrealized net gains (losses) 1.495 1.158 (1.801) Net (gains) losses reclassified into earnings (147) 1,541 (590) Total cash flow hedges 1,348 2,699 (2,391) Other (1.485) Other comprehensive earnings (loss), net of tax 27,070 (68,409) 164,567 Comprehensive earnings 704.988 50.858 S 976.232 See Notes to Consolidated Financial Statements DOVER CORPORATION CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (In thousands, except per share amounts) Accumulated Commen Additional Other Total Stock Si Par Paid-In Treasury Retained Comprehensive Stockholders' Value Capital Stock Earnings Earnings (Loss) Equity $ 256,538 $ 946,755 S (4,972,016) $ 7,927,795 $ (359,326) S 3,799,746 811,665 811,665 (283,959) (283,959) 454 (18,897) (18,443) 26,528 26,528 (105,023) (105,023) Balance at December 31, 2016 Net earnings Dividends paid (51.82 per share) Common stock issued for the exercise of share-based awards Stock-based compensation expense Common stock acquired Other comprehensive earnings, net of tax Other Balance at December 31, 2017 Adoption of ASU 2018-02 Cumulative catch-up adjustment related to Adoption of Topic 606 Net earnings Dividends paid (51.90 per share) 164,567 (11,901) 942.485 164,567 (11,901) 4.383.180 256.992 15.077,039) 8.455 501 12.856 (194.759) (12.856) 175 570.267 (283,570) 175 570,267 (283,570) TITIL (939,743) 32,928 (906,815) Separation of Apergy Common stock issued for the exercise of share-based awards 30 (47,084) (46,254) Stock-based compensation expense Common stock acquired Other comprehensive loss, net of 24,442 (24,454) 24,442 (894,977) (870,523) -- - (68,409) (9,373) 886,016 257,822 (5.947,562) (243,096) Other Balance at December 31, 2018 Net earnings Dividends paid ($1.94 per share) Common stock issued for the exercise of share-based awards 7.815,486 677,918 (282,197) (68,409) (9.373) 2.768.666 677,918 (282,197) 730 (38,100) (37,370) 29,702 29,702 (143,280) (143.280) Stock-based compensation expense Common stock acquired Other comprehensive earnings, net of tax Other Balance at December 31, 2019 27,070 (7,899) 50 869,719 S (6,090,842) S 8,211,257 27,070 (7,849) 3,032.660 258,552 (216,026) S See Notes to Consolidated Financial Statements 65 DOVER CORPORATION CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands) Years Ended December 31, 2015 2017 Operating Activities of Continuing Operations Net earnings s 677,918 S 570,267 811,665 Adjustments to reconcile net earnings to cash from operating activities: Loss (earnings) from discontinued operations, net 20,878 (65,002) Loss on assets held for sale 46,946 Loss on extinguishment of debt 23,543 Depreciation and amortization 272,287 282,580 283.278 Stock-based compensation 29,702 23,698 24,073 Gain on sale of businesses (203,135) Provision for losses on accounts receivable (net of recoveries) 5,933 3,875 10.341 Deferred income taxes (11,966) (35,448) (160,395) Employee benefit plan expense 5,844 11,912 12,191 Contributions to employee benefit plans (21,436) (25,933) (18,588) Othernet (3,652) (6,762) (4,216) Cash effect of changes in assets and liabilities (excluding effects of acquisitions, dispositions and foreign exchange): Accounts receivable (7,903) (87,573) (43,450) Inventories (56,870) (85,052) 605 Prepaid expenses and other assets (25,797) (5.232) Accounts payable 18,270 106,561 94,052 Accrued compensation and employee benefits 15,580 (7,037) 23,319 Accrued expenses and other liabilities (12.656) (5.026) (36,024) Accrued taxes (10.437) 29,706 15.927 Net cash provided by operating activities of continuing operations 945,306 789,193 739.409 Investing Activities of Continuing Operations Additions to property, plant and equipment (186,804) (170,994) (170,068) Acquisitions (net of cash and cash equivalents acquired) (215,687) (68,557) (27,188) Proceeds from sale of property, plant and equipment 4,168 5,908 11,774 Proceeds from sale of businesses 24,218 3,937 372,666 Other (10.150) (15.774) 21.151 Net cash (used in provided by investing activities of continuing operations (384.255) 245.4NO) 208335 Financing Activities of Continuing Operations Cash received from Apergy, net of cash distributed 689,643 Change in commercial paper and notes payable.net (135,650) (10,722) (182.596) Proceeds from long-term debt 847,469 Repayment of long-term debt (805,112) (350.000) Dividends to stockholders (282,197) (283,570) (283,959) Purchase of common stock (143,280) (894,977) (105,023) Payments for employee tax obligations upon exercise of share-based awards (37,370) (46,254) (18,443) Other (1.902) (1.958) 2.912) Net cash used in financing activities of continuing operations (558,042) (897.838) (592.913 Cash Flows from Discontinued Operations Net cash provided by operating activities of discontinued operations 9,442 96.225 Net cash used in investing activities of discontinued operations (23.705) (46,484) Net cash used in financing activities of discontinued operations (1.208) Net cash (used in) provided by discontinued operations 48.533 Effect of exchange rate changes on cash and cash equivalents (1.977 10.645 1.474 Net (decrease) increase in cash and cash equivalents 1,022 (357,743) 404,818 Cash and cash equivalents at beginning of year 396,221 753,964 349.146 Cash and cash equivalents at end of year 397,2535 396. ALS 753.964 Supplemental information - cash paid during the year for: Income taxes $ 191,084 S 135,427 s 337.987 Interest 126,753 131,823 140,863 See Notes to Consolidated Financial Statements 66 DOVER CORPORATION CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS (In thousands) Years Ended December 31, 2019 2018 2017 Net earnings 677,918 $570,267 S 811,665 Other comprehensive earnings (loss), net of tax Foreign currency translation adjustments Foreign currency translation (losses) gains (5,025) (59.970) 143,064 Reclassification of foreign currency translation losses to earnings 25,339 3.992 Total foreign currency translation adjustments 20,314 (59.970) 147,056 Pension and other postretirement benefit plans: Actuarial gains (losses) 47 (13,107) 12,439 Prior service credit (cost) 1,818 (14,661) 3.136 Amortization of actuarial losses included in net periodic pension cost 596 3,829 5.267 Amortization of prior service costs included in net periodie pension cost 2.141 2.875 3,007 Settlement and curtailment impact 806 9.926 (2.462) Total pension and other postretirement benefit plans 5.408 (11,138) 21,387 Changes in fair value of cash flow hedges: Unrealized net gains (losses) 1.495 1.158 (1.801) Net (gains) losses reclassified into earnings (147) 1,541 (590) Total cash flow hedges 1,348 2,699 (2,391) Other (1.485) Other comprehensive earnings (loss), net of tax 27,070 (68,409) 164,567 Comprehensive earnings 704.988 50.858 S 976.232 See Notes to Consolidated Financial Statements DOVER CORPORATION CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands) Years Ended December 31, 2015 2017 Operating Activities of Continuing Operations Net earnings s 677,918 S 570,267 811,665 Adjustments to reconcile net earnings to cash from operating activities: Loss (earnings) from discontinued operations, net 20,878 (65,002) Loss on assets held for sale 46,946 Loss on extinguishment of debt 23,543 Depreciation and amortization 272,287 282,580 283.278 Stock-based compensation 29,702 23,698 24,073 Gain on sale of businesses (203,135) Provision for losses on accounts receivable (net of recoveries) 5,933 3,875 10.341 Deferred income taxes (11,966) (35,448) (160,395) Employee benefit plan expense 5,844 11,912 12,191 Contributions to employee benefit plans (21,436) (25,933) (18,588) Othernet (3,652) (6,762) (4,216) Cash effect of changes in assets and liabilities (excluding effects of acquisitions, dispositions and foreign exchange): Accounts receivable (7,903) (87,573) (43,450) Inventories (56,870) (85,052) 605 Prepaid expenses and other assets (25,797) (5.232) Accounts payable 18,270 106,561 94,052 Accrued compensation and employee benefits 15,580 (7,037) 23,319 Accrued expenses and other liabilities (12.656) (5.026) (36,024) Accrued taxes (10.437) 29,706 15.927 Net cash provided by operating activities of continuing operations 945,306 789,193 739.409 Investing Activities of Continuing Operations Additions to property, plant and equipment (186,804) (170,994) (170,068) Acquisitions (net of cash and cash equivalents acquired) (215,687) (68,557) (27,188) Proceeds from sale of property, plant and equipment 4,168 5,908 11,774 Proceeds from sale of businesses 24,218 3,937 372,666 Other (10.150) (15.774) 21.151 Net cash (used in provided by investing activities of continuing operations (384.255) 245.4NO) 208335 Financing Activities of Continuing Operations Cash received from Apergy, net of cash distributed 689,643 Change in commercial paper and notes payable.net (135,650) (10,722) (182.596) Proceeds from long-term debt 847,469 Repayment of long-term debt (805,112) (350.000) Dividends to stockholders (282,197) (283,570) (283,959) Purchase of common stock (143,280) (894,977) (105,023) Payments for employee tax obligations upon exercise of share-based awards (37,370) (46,254) (18,443) Other (1.902) (1.958) 2.912) Net cash used in financing activities of continuing operations (558,042) (897.838) (592.913 Cash Flows from Discontinued Operations Net cash provided by operating activities of discontinued operations 9,442 96.225 Net cash used in investing activities of discontinued operations (23.705) (46,484) Net cash used in financing activities of discontinued operations (1.208) Net cash (used in) provided by discontinued operations 48.533 Effect of exchange rate changes on cash and cash equivalents (1.977 10.645 1.474 Net (decrease) increase in cash and cash equivalents 1,022 (357,743) 404,818 Cash and cash equivalents at beginning of year 396,221 753,964 349.146 Cash and cash equivalents at end of year 397,2535 396. ALS 753.964 Supplemental information - cash paid during the year for: Income taxes $ 191,084 S 135,427 s 337.987 Interest 126,753 131,823 140,863 See Notes to Consolidated Financial Statements 66 DOVER CORPORATION CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS (In thousands) Years Ended December 31, 2019 2018 2017 Net earnings 677,918 $570,267 S 811,665 Other comprehensive earnings (loss), net of tax Foreign currency translation adjustments Foreign currency translation (losses) gains (5,025) (59.970) 143,064 Reclassification of foreign currency translation losses to earnings 25,339 3.992 Total foreign currency translation adjustments 20,314 (59.970) 147,056 Pension and other postretirement benefit plans: Actuarial gains (losses) 47 (13,107) 12,439 Prior service credit (cost) 1,818 (14,661) 3.136 Amortization of actuarial losses included in net periodic pension cost 596 3,829 5.267 Amortization of prior service costs included in net periodie pension cost 2.141 2.875 3,007 Settlement and curtailment impact 806 9.926 (2.462) Total pension and other postretirement benefit plans 5.408 (11,138) 21,387 Changes in fair value of cash flow hedges: Unrealized net gains (losses) 1.495 1.158 (1.801) Net (gains) losses reclassified into earnings (147) 1,541 (590) Total cash flow hedges 1,348 2,699 (2,391) Other (1.485) Other comprehensive earnings (loss), net of tax 27,070 (68,409) 164,567 Comprehensive earnings 704.988 50.858 S 976.232 See Notes to Consolidated Financial Statements
