The company completed several acquisitions, including Friulair, ILC Dover, and APSCO, to strengthen its position in core product categories and broaden exposure to high-growth, sustainable end markets.

The company had net borrowings on long-term debt of $2,054.2 million and repurchased $260.7 million of common stock, indicating a shift in capital allocation towards debt-financed growth and shareholder returns.

Acquisitions like ILC Dover demonstrate a strategic move into biopharmaceutical, pharmaceutical, and medical device markets, diversifying the company's revenue streams.

The company emphasizes simplifying processes, eliminating excess capacity, and reducing costs, as evidenced by restructuring charges of $31.2 million and $19.9 million in 2024 and 2023, respectively.

The company highlights its commitment to employee empowerment, engagement, and development, including equity grants to all employees and a Connections Engagement survey achieving an 88% participation rate and an engagement score of 81.

The report acknowledges risks associated with acquisitions, including valuation, integration, and regulatory compliance, suggesting that successful integration is crucial for realizing projected synergies.

The company acknowledges its financial performance depends on conditions in the markets it serves and the general condition of the global economy, with potential impacts on revenues, liquidity, suppliers, and customers.

The company highlights that more than half of its sales and operations are in non-U.S. jurisdictions, exposing it to various risks, including political or economic instability, currency fluctuations, and trade restrictions.

The company acknowledges its business is highly dependent on financial, accounting, and other data-processing systems, and that failures or disruptions could result in financial loss, business disruption, or liability to customers.

The industrial end-markets are competitive, with an increasing focus on product quality, performance, energy efficiency, customer service and local presence. The marketplace remains highly fragmented due to the wide variety of product technologies, applications and selling channels.

Competition in the markets served by our Precision and Science Technologies segment is primarily based on product quality and performance, as most products must be qualified by the customer for a particular use.

We consider superior customer service to be one of our primary pillars of future success and view it as being built upon a foundation of critical application expertise, an industry leading range of compressor, pump, vacuum and blower products, a global manufacturing and sales presence and a long-standing reputation for quality and reliability.

Gross profit as a percentage of revenues is primarily due to increased price and input cost productivity improvements.

We continually seek ways to simplify or improve processes, eliminate excess capacity and reduce costs in all areas of our operations, which from time to time includes restructuring activities.

We have instituted a global sourcing strategy to take advantage of coordinated purchasing opportunities of key materials across our manufacturing plant locations.

Equipment controls and software are of increasing importance in our flow control applications for both the optimization of current systems as well as to enable the Industrial Internet of Things (“IIoT”) evolution.

We have begun incorporating AI into our business activities and our product and service offerings.

The markets in which we operate are characterized by changing technologies and introductions of new products and services. Our ability to develop new products based on technological innovation can affect our competitive position.

We repurchased $260.7 million of our common stock during the year ended December 31, 2024, including $250.0 million of repurchases under our share repurchase program.

During the year ended December 31, 2024, we had net borrowings on long-term debt of $2,054.2 million.

The Company paid cash dividends on our common stock of $32.3 million during the year ended December 31, 2024.

The Company has emphasized its commitment to making a positive impact on our environment with the announcement of environmental goals with respect to greenhouse gas emissions, renewable energy, water usage and landfill waste.

Through our Human Capital Management activities, we reflect our value of 'We foster inspired teams.' We nurture and celebrate a culture that embraces diverse points of view, backgrounds, and experiences and truly empower our employees as owners.

Certain of our shareholders, customers and employees and regulators in certain countries continue to expect a more comprehensive response to environmental, social, and governance (“ESG”) matters. We may incur increased costs and may be exposed to new risks responding to these higher expectations and requirements.

Cyclical weakness in the industries that we serve could adversely affect demand for our products and affect our profitability and financial performance.

A significant portion of our revenue, 55% for the year ended December 31, 2024, is denominated in currencies other than the U.S. dollar. Accordingly, currency exchange rates, and in particular unfavorable movement in the exchange rates between U.S. dollars and Euros, British Pounds and Chinese Renminbi, affect our operating results.

Non-U.S. operations and United States export sales could be adversely affected as a result of: political or economic instability in certain countries; differences in foreign laws, including increased difficulties in protecting intellectual property and uncertainty in enforcement of contract rights; credit risks; currency fluctuations.