<SEC-DOCUMENT>0000897101-16-001899.txt : 20160422
<SEC-HEADER>0000897101-16-001899.hdr.sgml : 20160422
<ACCEPTANCE-DATETIME>20160219164108
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0000897101-16-001899
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20160219

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DONALDSON CO INC
		CENTRAL INDEX KEY:			0000029644
		STANDARD INDUSTRIAL CLASSIFICATION:	INDUSTRIAL & COMMERCIAL FANS & BLOWERS & AIR PURIFYING EQUIP [3564]
		IRS NUMBER:				410222640
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0731

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		1400 W. 94TH ST.
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55431
		BUSINESS PHONE:		6128873131

	MAIL ADDRESS:	
		STREET 1:		1400 W 94TH STREET
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55431
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">February 19, 2016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Terence O&rsquo;Brien, Branch Chief</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Jenn Do, Staff Accountant</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Division of Corporation Finance</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">United States Securities Exchange Commission</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">100 F Street, N.E.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Washington, D.C. 20549-4631</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 5%; font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</td>
    <td style="width: 5%; font: 11pt Calibri, Helvetica, Sans-Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">RE:</font></td>
    <td style="width: 90%; font: 11pt Calibri, Helvetica, Sans-Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Donaldson Company, Inc.</font><br>
<font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form 10-K filed November 9, 2015</font><br>
<font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">File No. 1-7891</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Dear Mr. O&rsquo;Brien and Ms. Do:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">This letter is in response to your letter dated January 25, 2016
(the &ldquo;SEC Comment Letter&rdquo;), regarding the above-mentioned filing. For your ease of reference, we have reproduced your
comments in the text of this letter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Donaldson Company, Inc. (the &ldquo;Company&rdquo;) acknowledges
that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
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    <td style="width: 1%">&nbsp;</td>
    <td style="width: 1%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;</font></td>
    <td style="width: 98%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the Company is responsible for the adequacy and accuracy of the disclosure in this filing;</font></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;</font></td>
    <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Staff comments or changes to disclosure in response to Staff comments do not foreclose the Commission from taking any action with respect to the filing; and</font></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;</font></td>
    <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the Company may not assert Staff comments as a defense in any proceeding initiated by the Commission or any person under the federal securities laws of the United States.</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I><U>Form 10-K for the Fiscal Year Ended July 31, 2015</U></I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><U>Note A Summary of Significant Accounting Policies, page 34</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><U>Revenue Recognition, page 36</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">1.</FONT></TD><TD><FONT STYLE="font-size: 10pt">Please expand your disclosures to address the following:</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Please disclose how you determine when both product
ownership and risk of loss have transferred to the customer;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We note that you also have sales agreements which
contain multiple elements or nonstandard terms and conditions. Please further clarify the extent to which your agreements have
multiple elements or non-standard terms and conditions. Please address your consideration of these multiple elements and non-standard
terms and conditions in determining how to recognize revenue, including any estimates or assumptions that need to be made when
determining when to recognize revenue; and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">For your revenue recognition policy related to Gas
Turbine Systems, please clarify the terms in the contracts which may result in the deferral of revenue and how you determine when
to recognize revenue.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;<B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><U>Donaldson Response</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">In future filings, beginning with our Form 10-K for the year ended
July 31, 2016, we will revise our disclosure to include the additional clarity as recommended by the Staff as follows:</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: left; text-indent: 0in"><I>Revenue recognition</I>&emsp;The
Company sells a wide range of filtration solutions into many industries around the globe. Revenue is recognized when both product
ownership and the risk of loss have transferred to the Customer, the Company has no remaining obligations, <FONT STYLE="font-family: inherit">the
selling price is fixed and determinable, and collectability is reasonably assured</FONT>. The vast majority of the Company&rsquo;s
sales agreements are for standard products with product ownership and risk of loss transferring to the Customer when the product
has shipped. Although less common, the Company does have sales agreements with Customers requiring product ownership and risk of
loss to transfer at the Customer&rsquo;s location. For these non-standard terms, the Company defers revenue on these product sales
until the product has been delivered.</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">United States Securities and Exchange Commission</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">February 19, 2016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Page 2</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: left; text-indent: 0in">For the
Company&rsquo;s Gas Turbine Systems (GTS) sales, which typically consist of multiple shipments of components that will
comprise the entire GTS project, it must carefully monitor the transfer of title related to each portion of a system sale.
The Company defers revenue recognition until product ownership and risk of loss has transferred to the Customer for all
components and when all terms specified in the contract are met which may include requirements such as the requirement for
the Company to deliver technical documentation to the Customer or a quality inspection which may be required to be approved
by the Customer.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: left; text-indent: 0in">To a limited extent
and more common within the Gas Turbine Systems and Industrial Filtration Solutions businesses, the Company enters into sales agreements
that involve multiple elements (such as equipment, replacement filter elements, and installation services). In these instances,
the Company determines if the multiple elements represent separate units of accounting. The price of the separate products and
services is allocated using the relative selling price based on the Company&rsquo;s pricing for products and services sold separately.
Revenue is recognized when the product or service has been delivered.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: left; text-indent: 0in">Additionally, the
Company records estimated discounts and rebates offered to certain Customers as a reduction of sales in the same period revenue
is recognized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><U>Note J Income Taxes, page 52</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">2.</FONT></TD><TD><FONT STYLE="font-size: 10pt">The majority of your cash and cash equivalents are held by foreign subsidiaries and most of these
funds are considered permanently reinvested outside the U.S. You repatriated $152.0 million of cash during fiscal 2015 and $25.5
million during the first quarter of fiscal 2016 in the form of cash dividends. You note that these were part of your total planned
dividends for these periods. In this regard, please address the following:</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Please help us understand how you determine the amount
of your total planned dividends for each year versus those amounts that will be considered to be permanently reinvested;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Please tell us whether you previously considered
the foreign earnings that were repatriated during fiscal 2015 or fiscal 2016 to be permanently reinvested. If so, please tell us
at what point you determined that they would not be; and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Please tell us how you concluded that the remaining
$938 million should be considered to be permanently reinvested in light of your repatriation of amounts in previous years.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Refer to paragraph ASC 740-30-25-17</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><U>Donaldson Response</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>Please help us understand how you determine the amount of your
total planned dividends for each year versus those amounts that will be considered to be permanently reinvested. </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
total amount of planned dividends for each year is equivalent to the amount of dividends that can be repatriated with no additional
U.S. tax liability,</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">as stated in the tax footnote,
and furthermore which does not conflict with investment plans outside the U.S., and generally which are less than or equal to current
year foreign earnings. We are able to approximate this amount of earnings each year based on forecasted foreign earnings and related
taxes paid. We will not repatriate foreign earnings if it is not tax effective to do so regardless of investment opportunities,
and will only change our assertion regarding prior year earnings in extraordinary situations or if unforeseen events occur post-assertion
that in our judgment require additional repatriation. Therefore, the amount considered permanently reinvested each year is equal
to the amount that we are not able to repatriate without additional U.S. tax liability and/or that we determine to be reinvested
outside the U.S. based on local investment needs for the year.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">United States Securities and Exchange Commission</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">February 19, 2016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Page 3</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>Please tell us whether you previously considered the foreign
earnings that were repatriated during fiscal 2015 or fiscal 2016 to be permanently reinvested. If so, please tell us at what point
you determined that they would not be.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The majority of foreign earnings repatriated in fiscal 2015 consisted
of current year earnings (approximately $80 million of $125 million total, not $152 million total as stated in the question), and
thus were not previously considered indefinitely reinvested. The determination that the portion of the foreign earnings previously
considered to be permanently reinvested would no longer be considered permanently reinvested, and would be repatriated, occurred
approximately at the end of the first quarter of the fiscal year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">In October of fiscal 2015, the Company completed a foreign
legal entity restructuring. The restructuring resulted in the U.S. taxation of all current year foreign earnings which
generate excess foreign tax credits over U.S. tax liability. The extent of this tax benefit was not known to the Company
until October of fiscal 2015 when certain key aspects of this restructuring were finalized. Thus if the Company were to have
repatriated one hundred percent of the current year foreign earnings related to the legal entity restructuring, it would have
recognized a significant net tax benefit for the fiscal year. Therefore, the Company was presented with an opportunity to
repatriate additional prior year earnings at no additional tax cost (due to the forecasted net tax benefit on the
repatriation of current year foreign earnings) and still follow the Company&rsquo;s policy of only repatriating cash when it
is tax effective to do so. By early November of fiscal 2015 the Company acted upon this opportunity and changed its assertion
regarding certain foreign earnings that were previously considered permanently reinvested.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The level of tax benefit recognized in fiscal 2015 on the repatriation
of certain foreign earnings is not expected to be reached again in the foreseeable future due to a change in the mix of foreign
earnings and taxes as a result of the foreign legal entity restructuring completed during the year. Therefore, we view the circumstances
which produced the significant tax benefit on the repatriation of fiscal 2015 current year earnings as nonrecurring in nature,
and consider this action and outcome an exception to our general rule of limiting repatriations to approximate current year foreign
earnings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The foreign  earnings repatriated in fiscal 2016 to date
consisted entirely of current year earnings that had not been previously considered as permanently reinvested.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>Please tell us how you concluded that the remaining $938 million
should be considered to be permanently reinvested in light of your repatriation of amounts in previous years.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">As stated in the Company&rsquo;s Form 10-K (Liquidity and Capital
Resources), it is not necessary for the Company to repatriate cash to meet its cash needs in the U.S., as the cash generated from
U.S. operations plus the Company&rsquo;s short-term debt facilities are anticipated to be sufficient for those needs. The fiscal
2015 repatriation of the foreign earnings previously considered to be permanently reinvested is, again, considered to be nonrecurring
in nature for the aforementioned reasons. As such, the remaining $938 million is considered permanently reinvested based on our
estimation that planned dividends for future years will not exceed those current year foreign earnings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><U>Note O Quarterly Financial Information (Unaudited), page 58</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">3.</FONT></TD><TD><FONT STYLE="font-size: 10pt">We note that the material weakness identified during fiscal 2015 related to certain revenue transactions
in the European Gas Turbine Systems business also impacted the first and fourth quarters of fiscal 2015 as well as the fourth quarter
of fiscal 2014. Please provide us with a summary of the impact of these transactions on the first and fourth quarters of fiscal
2015 as well as the fourth quarter of fiscal 2014 in a similar manner to your disclosures on pages 58 and 59 related to the impact
of these transactions on the second and third quarters of fiscal 2015.&nbsp;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">United States Securities and Exchange Commission</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">February 19, 2016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Page 4</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><U>Donaldson Response</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">As indicated in our Form 10-K, the transactions that were inappropriately
accelerated into the fourth quarter of fiscal 2014 were inconsequential and therefore, we chose not to revise the financial information
for that period nor for the first quarter of fiscal 2015. The following tables present the effect of the misstatements as the Staff
requested for the quarters ended July 31, 2014, and October 31, 2014, as if they had been revised:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 90%; margin-left: .5in; border-collapse: collapse">
<tr style="vertical-align: bottom">
    <td>&nbsp;</td>
    <td style="padding-bottom: 1pt">&nbsp;</td>
    <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><b>As Previously</b></font><br>
<font style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><b>Reported</b></font></td>
    <td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt">&nbsp;</td>
    <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><b>Effect of</b></font><br>
<font style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><b>Misstatement</b></font></td>
    <td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt">&nbsp;</td>
    <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><b>If</b></font><br>
<font style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><b>Revised</b></font></td>
    <td style="padding-bottom: 1pt">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>For the quarter ended July 31, 2014</b></font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #D6F3E8">
    <TD STYLE="width: 61%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net sales</font></td>
    <TD STYLE="width: 1%">&nbsp;</td>
    <TD STYLE="width: 1%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</font></td>
    <TD STYLE="width: 10%; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">668,226</font></td>
    <TD STYLE="width: 1%">&nbsp;</td>
    <TD STYLE="width: 1%">&nbsp;</td>
    <TD STYLE="width: 1%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</font></td>
    <TD STYLE="width: 10%; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1,620</font></td>
    <TD STYLE="width: 1%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</font></td>
    <TD STYLE="width: 1%">&nbsp;</td>
    <TD STYLE="width: 1%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</font></td>
    <TD STYLE="width: 10%; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">666,606</font></td>
    <TD STYLE="width: 1%">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cost of sales</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">429,903</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1,322</font></td>
    <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">428,581</font></td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #D6F3E8">
    <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Gross profit</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">238,323</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(298</font></td>
    <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">238,025</font></td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Operating income</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">99,150</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(298</font></td>
    <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">98,852</font></td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #D6F3E8">
    <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Earnings before income taxes</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100,852</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(298</font></td>
    <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100,554</font></td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Income taxes</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">27,896</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(101</font></td>
    <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">27,795</font></td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #D6F3E8">
    <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net earnings</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">72,956</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(197</font></td>
    <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">72,759</font></td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basic earnings per share</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.51</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.51</font></td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #D6F3E8">
    <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Diluted earnings per share</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.50</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.50</font></td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Comprehensive income</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">72,956</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(197</font></td>
    <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">72,759</font></td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #D6F3E8">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>For the quarter ended October 31, 2014</b></font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #D6F3E8">
    <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net sales</font></td>
    <td>&nbsp;</td>
    <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</font></td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">596,510</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</font></td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,620</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</font></td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">598,130</font></td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cost of sales</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">387,458</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,322</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">388,780</font></td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #D6F3E8">
    <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Gross profit</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">209,052</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">298</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">209,350</font></td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Operating income</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">76,972</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">298</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">77,270</font></td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #D6F3E8">
    <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Earnings before income taxes</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">77,283</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">298</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">77,581</font></td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Income taxes</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">21,336</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">101</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">21,437</font></td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #D6F3E8">
    <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net earnings</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">55,947</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">197</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">56,144</font></td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basic earnings per share</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.40</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.40</font></td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #D6F3E8">
    <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Diluted earnings per share</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.40</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.40</font></td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Comprehensive income</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">55,947</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">197</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">56,144</font></td>
    <td>&nbsp;</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Regarding the fourth quarter of fiscal 2015, a revision was not
applicable as the financial statements had not been previously filed. However, the impact of the misstatements on the fourth quarter
of fiscal 2015 was as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 90%; margin-left: .5in; border-collapse: collapse">
<tr style="vertical-align: bottom">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="2" style="border-bottom: Black 1pt solid">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Results exclusive </b></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>of misstatement</b></P></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><b>Effect of Misstatement</b></font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><b>As Reported</b></font></td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>For the quarter ended July 31, 2015</b></font></td>
    <td>&nbsp;</td>
    <td colspan="2" style="text-align: right">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="2" style="text-align: right">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="2" style="text-align: right">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #D6F3E8">
    <TD STYLE="width: 58%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net sales</font></td>
    <TD STYLE="width: 2%">&nbsp;</td>
    <TD STYLE="width: 1%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</font></td>
    <TD STYLE="width: 10%; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">609,746</font></td>
    <TD STYLE="width: 1%">&nbsp;</td>
    <TD STYLE="width: 2%">&nbsp;</td>
    <TD STYLE="width: 1%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</font></td>
    <TD STYLE="width: 10%; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">832</font></td>
    <TD STYLE="width: 1%">&nbsp;</td>
    <TD STYLE="width: 2%">&nbsp;</td>
    <TD STYLE="width: 1%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</font></td>
    <TD STYLE="width: 10%; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">610,578</font></td>
    <TD STYLE="width: 1%">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cost of sales</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">407,662</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">572</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">408,234</font></td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #D6F3E8">
    <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Gross profit</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">202,084</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">260</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">202,344</font></td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Operating income</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">78,123</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">260</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">78,383</font></td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #D6F3E8">
    <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Earnings before income taxes</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">77,787</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">260</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">78,047</font></td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Income taxes</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">21,525</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">88</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">21,613</font></td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #D6F3E8">
    <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net earnings</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">56,262</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">171</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">56,433</font></td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basic earnings per share</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.41</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.41</font></td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #D6F3E8">
    <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Diluted earnings per share</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.41</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.41</font></td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Comprehensive income</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">56,262</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">171</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">56,433</font></td>
    <td>&nbsp;</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">United States Securities and Exchange Commission</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">February 19, 2016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Page 5</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 6pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><U>Note R Restructuring Charges and Other Adjusting Items, page
59</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">4.</FONT></TD><TD><FONT STYLE="font-size: 10pt">During the earnings calls held on September 1, 2015 and November 25, 2015, it was indicated that
fiscal 2015 restructuring activities will result in $30 million of annual cost savings and that restructuring activities that took
place during the first quarter of fiscal 2016 will result in $25 million of annual cost savings. We note that you reported earnings
before income taxes of $288.6 million for the year ended July 31, 2015. In this regard, please provide all of the disclosures required
by SAB Topic 5:P.4 and ASC 420-10-50. Your disclosures should include the anticipated future cost savings at the consolidated and
reportable segment levels, and whether the actual results are in line with&nbsp;the anticipated cost savings. If the anticipated
savings were not achieved as expected or are achieved in periods other than as expected, please disclose as such, the reasons for
the differences, and the likely effects on future operating results and liquidity.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><U>Donaldson Response</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">In future filings, beginning with our Form 10-Q for the second quarter
ended January 31, 2016, we will revise our disclosure to provide the disclosures required by SAB Topic 5:P.4 and ASC 420-10-50.
A draft of such disclosure is as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">In first quarter 2016, Donaldson took actions to further align its
operating and manufacturing cost structure with current and projected Customer and end-market demand. These actions consisted of
one-time termination benefits from restructuring the salaried and production workforce in all geographic regions and in both reportable
segments. Total charges related to this action were expected to be $X.X million. These actions have been completed and resulted
in a total pre-tax charge of $X.X million with $7.5 million recorded during the first quarter of fiscal 2016 and $X.X million recorded
during the second quarter of fiscal 2016. The Engine Products segment incurred $X.X million and $X.X million and the Industrial
Products segment incurred $X.X million and $X.X million of charges during the three and six month periods ended January 31, 2016,
respectively. Restructuring charges for this action are summarized in the table below by income statement line item:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 90%; border-collapse: collapse">
<tr style="vertical-align: bottom; background-color: white">
    <td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; border-top: Black 1pt solid">&nbsp;</td>
    <td style="border-top: Black 1pt solid; border-bottom: black 1pt solid">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Three Months Ended </b></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>January 31, 2016</b></P></td>
    <td style="border-top: Black 1pt solid; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-top: Black 1pt solid; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-top: Black 1pt solid; border-bottom: black 1pt solid">&nbsp;</td>
    <td style="border-top: Black 1pt solid; border-bottom: black 1pt solid">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Six Months Ended </b></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>January 31, 2016</b></P></td>
    <td style="padding-bottom: 1pt">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #D6F3E8">
    <td style="width: 34%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cost of sales</font></td>
    <td style="width: 2%">&nbsp;</td>
    <td style="width: 1%">&nbsp;</td>
    <td style="width: 29%; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$ X.X</font></td>
    <td style="width: 1%">&nbsp;</td>
    <td style="width: 2%">&nbsp;</td>
    <td style="width: 1%">&nbsp;</td>
    <td style="width: 29%; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$ X.X</font></td>
    <td style="width: 1%">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="padding-bottom: 1pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Operating expenses</font></td>
    <td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: black 1pt solid">&nbsp;</td>
    <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;X.X</font></td>
    <td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: black 1pt solid">&nbsp;</td>
    <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;X.X</font></td>
    <td style="padding-bottom: 1pt">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #D6F3E8">
    <td style="padding-bottom: 2.5pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total</font></td>
    <td style="padding-bottom: 2.5pt">&nbsp;</td>
    <td style="border-bottom: black 2.25pt double">&nbsp;</td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$ X.X</font></td>
    <td style="padding-bottom: 2.5pt">&nbsp;</td>
    <td style="padding-bottom: 2.5pt">&nbsp;</td>
    <td style="border-bottom: black 2.25pt double">&nbsp;</td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$ X.X</font></td>
    <td style="padding-bottom: 2.5pt">&nbsp;</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Total savings from these actions were initially estimated
to result in $25 million of annual pre-tax savings. The Company continues to believe that an estimated $25 million in
annual pre-tax savings is reasonable. The savings are a result of reduction in workforce and elimination of open positions
and therefore, the savings are expected to commence immediately and will allow the Company to invest in other strategic
initiatives. As the charges were incurred and paid in the same period, there was not a liability balance as of either October
31, 2015 or January 31, 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">United States Securities and Exchange Commission</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">February 19, 2016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Page 6</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">If you have any further questions, please contact the undersigned
at (952) 887-3489 (phone) or (952) 703-4556 (fax).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Sincerely,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <td nowrap style="width: 39%; border-bottom: black 1pt solid"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Scott J. Robinson</font></td>
    <td style="width: 61%">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Scott J. Robinson</font><br>
<font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vice President and Chief Financial Officer</font></td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">cc:&nbsp;&nbsp;Bill Cook<br>
        Chairman, and</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Tod Carpenter</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">President, Chief Executive Officer</P></td>
    <td>&nbsp;</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>



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