Loss on dispositions

[Table of Contents](#ic9c410c95c8848f2bcb73b4a6fbb4634_4)DOVER CORPORATIONNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Amounts in thousands except share data and where otherwise indicated) (Unaudited)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.  
  
22
