DOCSLIB.ORG

INVESTOR & ANALYST MEETING December 16, 2015

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
INVESTOR & ANALYST MEETING December 16, 2015 INVESTOR & ANALYST MEETING December 16, 2015 Forward Looking Statements Statements in this presentation that are not strictly historical, including any statements regarding events or developments that we believe or anticipate will or may occur in the future, are "forward-looking" statements within the meaning of the federal securities laws. There are a number of important factors that could cause actual results, developments and business decisions to differ materially from those suggested or indicated by such forward-looking statements and you should not place undue reliance on any such forward-looking statements. These factors include, among other things, deterioration of or instability in the economy, the markets we serve and the financial markets, the impact of our restructuring activities on our ability to grow, contractions or growth rates and cyclicality of markets we serve, competition, our ability to develop and successfully market new and enhanced products and services and expand into new markets, the potential for improper conduct by our employees, agents or business partners, our ability to successfully identify, consummate and integrate appropriate acquisitions and successfully complete divestitures and other dispositions, our ability to integrate the recently acquired Pall Corporation and achieve the anticipated benefits of that transaction, our ability to successfully consummate the separation of Danaher into two public companies and realize the anticipated benefits of that transaction, contingent liabilities relating to acquisitions and divestures, our compliance with applicable laws and regulations (including regulations relating to medical devices and the healthcare industry) and changes in applicable laws and regulations, our ability to effectively address cost reductions and other changes in the healthcare industry, risks relating to potential impairment of goodwill and other intangible assets, currency exchange rates, tax audits and changes in our tax rate and income tax liabilities, litigation and other contingent liabilities including intellectual property and environmental, health and safety matters, risks relating to product, service and software defects, product liability, and recalls, risks relating to product manufacturing, the impact of our debt obligations on our operations and liquidity, our relationships with and the performance of our channel partners, commodity costs and surcharges, our ability to adjust purchases and manufacturing capacity to reflect market conditions, reliance on sole sources of supply, labor matters, international economic, political, legal compliance and business factors, disruptions relating to man-made and natural disasters, security breaches or other disruptions of our information technology systems and pension plan costs. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in our SEC filings, including our 2014 Annual Report on Form 10-K and Quarterly Report on Form 10-Q for the third quarter of 2015. These forward-looking statements speak only as of the date of this presentation and the Company does not assume any obligation to update or revise any forward-looking statement, whether as a result of new information, future events and developments or otherwise. With respect to any non-GAAP financial measures included in the following presentation, the accompanying information required by SEC Regulation G can be found in the “Investors” section of Danaher’s web site, www.danaher.com, under the heading “Investor Events,” and event name “Danaher 2015 Investor & Analyst Meeting.” All references in this presentation to earnings, revenues and other company-specific financial metrics relate only to the continuing operations of Danaher’s business, unless otherwise noted. All references in this presentation to “growth” refer to year-over-year growth unless otherwise indicated. Agenda 11:00 am Welcome Matt Gugino 11:05 am Opening Remarks Tom Joyce 11:35 am Diagnostics Arnd Kaldowski Life Sciences & Pall Dan Daniel & Rainer Blair Q&A Kaldowski, Daniel, Blair 12:25 pm Lunch All 1:10 pm Fortive Corporation Jim Lico Transportation Technologies Martin Gafinowitz Q&A Lico, Gafinowitz 2:05 pm Closing Remarks & Guidance Tom Joyce 2:15 pm Q&A Tom Joyce 2:30 pm Program End OPENING REMARKS Tom Joyce, President & CEO Agenda Portfolio Overview Current Update 2015 in Review Strengthening our competitive advantage with DBS Investing in high-impact organic growth opportunities Optimizing our portfolio to improve and sustain our market- leading positions Danaher Today Test & Industrial Life Sciences Environmental Dental Measurement Technologies & Diagnostics Instruments Product ID Water Quality Diagnostics Dental $1.6B $2.1B $2.0B $4.9B $2.7B Automation $0.8B Life Sciences $2.4B Matco/Hennessy Sensors & Controls Gilbarco Veeder-Root $0.6B $0.6B $1.6B Pall Specialty Industrial $2.8B $0.4B Aggregate revenues for FY 2015E. Outstanding portfolio of businesses DBS is Our Culture Current Update Portfolio Overview Current Update 2015 in Review Strengthening our competitive advantage with DBS Investing in high-impact organic growth opportunities Optimizing our portfolio to improve and sustain our market- leading positions Current Update Reaffirmed 4Q 2015 adjusted EPS guidance of $1.25-1.29 4Q margins tracking well, offsetting incremental order weakness in industrial-oriented businesses Taking additional cost actions in 4Q to benefit 2016 Pall transition and Fortive launch both progressing well Expect ~$100M in 2016 cost savings at Pall Separation expected to close in 3Q 2016 2016 Guidance Anticipate core revenue growth of 2-3% Initiated adjusted EPS guidance range of $4.80-4.95 2016 adjusted EPS guidance implies 12-15% earnings growth 2015 in Review Portfolio Overview Current Update 2015 in Review Strengthening our competitive advantage with DBS Investing in high-impact organic growth opportunities Optimizing our portfolio to improve and sustain our market- leading positions 2015 Highlights Top line outperformance in challenging macro environment Targeted investment spend, attractive end markets and business models drove solid core growth ≥MSD growth at WQ, GVR, Life Sciences, Diagnostics, Fluke, Matco and PID Core margin expansion while continuing to invest Core OMX of 75 bps >100 bps core OMX at Environmental, T&M and Industrial Tech GM up ~100 bps, helping fund long term investments R&D and S&M spend* up ~40 bps Solid FCF and earnings performance Expect 24th consecutive year of FCF>NI All figures on this slide are for the nine months ended October 2, 2015 unless otherwise indicated. *As a % of sales. DBS driving strong performance DBS in Action @ Nobel Biocare Enhancing commercial execution with DBS Transformative Marketing Funnel Management discipline Amplifying core growth profile 2014 2015E New product launches: NobelActive WP, NobelParallel Core sales Increased Feet-on-the-Street 20% in HGMs LSD MSD th growth % Digital workflow solutions: added 10,000 Nobel Clinician customer in 3Q Core OMX ~100 bps >300 bps Significant operating margin expansion DBS implementation driving >10% productivity improvement Reduced indirect spend and improved W/C turns ~25% DBS making a meaningful impact only one year in 2015 in Review Portfolio Overview Current Update 2015 in Review Strengthening our competitive advantage with DBS Investing in high-impact organic growth opportunities Optimizing our portfolio to improve and sustain our market- leading positions Relative Outperformance in 2015E MSD core growth MSD core growth MSD core growth Commercial execution Funnel Management New product innovation Expanding LatAm footprint Technology leadership Funnel Management 15th consecutive quarter ≥HSD core growth DD core growth MSD core growth HGM execution VOC driving innovation Accelerated Product Development Product innovation & service Franchise expansion Transformative Marketing DBS continuing to drive meaningful share gains Product ID Investing in new product innovation 2015E vs. ~40%* new product vitality in 2015 2014 Esko developing new/digital products Core sales MSD growth % Staying ahead with expanded service capability Core OMX >100 bps Videojet Remote Service reducing customer downtime and cost-to-serve Videojet service revenues up ~15% in 2015E Data-driven service driving penetration Using bolt-on M&A to augment core growth Esko: digital asset management with MediaBeacon Expanded “track and trace” capabilities with Laetus *Equipment only Share gains continue at Product ID Water Quality Expanding global capabilities 2015E vs. Hach’s localized products, service and sales driving high-teens growth in China 2014 ChemTreat growing DD in Latin America for 12 Core sales MSD consecutive quarters growth % Core OMX ~100 bps New product innovation simplifying customer workflows at Hach Real Time Control (RTC) solutions Portable Parallel Analyzer (PPA) M&A enhancing product offerings and global reach Reactivos extends Hach’s coverage in Mexico Sutron & Lufft Mess complement Hach Environmental’s offerings Water Quality outgrowing the market by nearly 2X 2015 in Review Portfolio Overview Current Update 2015 in Review Strengthening our competitive advantage with DBS Investing in high-impact organic growth opportunities Optimizing our portfolio to improve and sustain our market- leading positions 2015 Portfolio Moves Closed $13.6B acquisition, largest
Load more

Recommended publications
  • 2019 Annual Report
    1984 2019 2019 MARKED DANAHER’S 35TH ANNIVERSARY To honor this milestone, the front cover of this year's annual report features the original Danaher logo and bright blue color palette. We proudly celebrate our company's history as the prelude to a 35 future filled with opportunity. By living our core values of building the best team, continuously improving, “ listening to our customers every day and driving innovation, we ultimately deliver long-term shareholder value.” Thomas P. Joyce, Jr. Financial Operating Highlights (dollars in millions except per share data and number of associates) 2019 2018 Sales $ 17,911.1 $ 17,048.5 Operating Profit $ 3,269.4 $ 3,055.1 Net Earnings $ 2,432.3 $ 2,406.3 Net Earnings Per Share (diluted) $ 3.26 $ 3.39 Operating Cash Flow $ 3,657.4 $ 3,644.0 Investing Cash Flow $ (1,166.1) $ (2,873.9) Financing Cash Flow $ 16,589.9 $ (797.4) Capital Expenditures $ (635.5) $ (583.5) Capital Disposals $ 12.8 $ 6.3 Free Cash Flow (Operating Cash Flow less Capital Expenditures plus Capital Disposals) $ 3,034.7 $ 3,066.8 Number of Associates 60,000 58,000 Total Assets* $ 62,081.6 $ 47,832.5 Total Debt ** $ 21,729.1 $ 9,740.3 Stockholders’ Equity $ 30,281.9 $ 28,226.7 Total Capitalization (Total Debt plus Stockholders’ Equity) $ 52,011.0 $ 37,967.0 * 2018 data includes both continuing and discontinued operations ** Long-Term Debt ($21,516.7 for 2019 and $9,688.5 for 2018) plus Notes Payable and Current Portion of Long-Term Debt ($212.4 for 2019 and $51.8 for 2018) All financial data set forth in this annual report relates solely to continuing operations unless otherwise indicated.
    [Show full text]
  • 2017 INVESTOR & ANALYST DAY December 14, 2017
    2017 INVESTOR & ANALYST DAY December 14, 2017 Forward Looking Statements Statements in this presentation that are not strictly historical, including any statements regarding events or developments that we believe or anticipate will or may occur in the future are "forward-looking" statements within the meaning of the federal securities laws. There are a number of important factors that could cause actual results, developments and business decisions to differ materially from those suggested or indicated by such forward-looking statements and you should not place undue reliance on any such forward-looking statements. These factors include, among other things, deterioration of or instability in the economy, the markets we serve and the financial markets, contractions or growth rates and cyclicality of markets we serve, competition, our ability to develop and successfully market new products and technologies and expand into new markets, the potential for improper conduct by our employees, agents or business partners, our compliance with applicable laws and regulations (including regulations relating to medical devices and the health care industry), our ability to effectively address cost reductions and other changes in the health care industry, our ability to successfully identify, consummate and integrate appropriate acquisitions and successfully complete divestitures and other dispositions, our ability to integrate the recent acquisitions of Pall Corporation and Cepheid and achieve the anticipated benefits of such transactions, contingent
    [Show full text]
  • Journal 2428
    Iris um Oifig Maoine Intleachtúla na hÉireann Journal of the Intellectual Property Office of Ireland Iml. 96 Cill Chainnigh 06 January 2021 Uimh. 2428 CLÁR INNSTE Cuid I Cuid II Paitinní Trádmharcanna Leath Leath Official Notice 1 Official Notice 1 Applications for Patents 3 Applications for Trade Marks 3 Patents Granted 4 Oppositions under Section 43 68 European Patents Granted 5 Application(s) Withdrawn 68 Applications Withdrawn, Deemed Withdrawn or Trade Marks Registered 69 Refused 151 Trade Marks Renewed 69 Request for Grant of Supplementary Protection Application(s) for Leave to Alter Registered Certificate 167 Trade Mark(s) 71 Supplementary Protection Certificate Withdrawn 168 Leave to Alter Registered Trade Mark(s) Supplementary Protection Certificate Rejected 168 Granted 71 Application for Extension of the Duration of a International Registrations under the Madrid Supplementary Protection Certificate 169 Protocol 72 Errata 170 International Trade Marks Protected 93 Cancellations effected for the following goods/services under the Madrid protocol 95 Dearachtaí Designs Information under the 2001 Act Designs Registered 171 The Journal of the Intellectual Property Office of Ireland is published fortnightly. Each issue is freely available to view or download from our website at www.ipoi.gov.ie © Rialtas na hÉireann, 2021 © Government of Ireland, 2021 1 (06/01/2021) Journal of the Intellectual Property Office of Ireland (No. 2428) Iris um Oifig Maoine Intleachtúla na hÉireann Journal of the Intellectual Property Office of Ireland Cuid I Paitinní agus Dearachtaí No. 2428 Wednesday, 6 January, 2021 NOTE: The office does not guarantee the accuracy of its publications nor undertake any responsibility for errors or omissions or their consequences.
    [Show full text]
  • 2018 Annual Report
    2018 Annual Report Danaher 2018 Annual Report Financial Operating Highlights (dollars in millions except per share data and number of associates) 2018 2017 Sales $ 19,893.0 $ 18,329.7 Operating Profit $ 3,403.8 $ 2,990.4 Net Earnings $ 2,650.9 $ 2,469.8 Net Earnings Per Share (diluted) $ 3.74 $ 3.50 Operating Cash Flow $ 4,022.0 $ 3,477.8 Investing Cash Flow $ (2,949.4) $ (843.4) Financing Cash Flow $ (797.4) $ (3,098.5) Capital Expenditures $ (655.7) $ (619.6) Capital Disposals $ 6.3 $ 32.6 Free Cash Flow (Operating Cash Flow less Capital Expenditures plus Capital Disposals) $ 3,372.6 $ 2,890.8 Number of Associates 71,000 67,000 Total Assets $ 47,832.5 $ 46,648.6 Total Debt * $ 9,740.3 $ 10,522.1 Stockholders’ Equity $ 28,226.7 $ 26,367.8 Total Capitalization (Total Debt plus Stockholders’ Equity) $ 37,967.0 $ 36,889.9 * Long-Term Debt ($9,688.5 for 2018 and $10,327.4 for 2017) plus Notes Payable and Current Portion of Long-Term Debt ($51.8 for 2018 and $194.7 for 2017) All financial data set forth in this annual report relates solely to continuing operations unless otherwise indicated. 2018 Annual Report Dear Shareholders, As I begin my 30th year at Danaher, it is humbling to reflect on what our team has achieved over that time and exciting to think about the opportunities that still lie ahead. Financially and strategically, 2018 was an outstanding year. With the Danaher Business System (DBS) as our driving force, we strengthened our footholds in attractive, fast-growing markets and enhanced our competitive positions.
    [Show full text]
  • EU Top Applicants 2010-2014 Based on Assignees2014 5Yr.Tsv
    EU top applicants 2010-2014 Based on Assignees2014 5yr.tsv table_row ordering_cd 15943 309 13406 105 13407 105 13408 105 13409 105 13410 105 13411 105 13412 105 13413 105 13414 105 13415 105 13416 105 13417 105 13418 105 13419 105 13420 105 13421 105 13422 105 13423 105 13424 105 Page 1 of 1235 09/26/2021 EU top applicants 2010-2014 Based on Assignees2014 5yr.tsv st_country_cd us_or_foreign FRX (Foreign) ATX (Foreign) ATX (Foreign) ATX (Foreign) ATX (Foreign) ATX (Foreign) ATX (Foreign) ATX (Foreign) ATX (Foreign) ATX (Foreign) ATX (Foreign) ATX (Foreign) ATX (Foreign) ATX (Foreign) ATX (Foreign) ATX (Foreign) ATX (Foreign) ATX (Foreign) ATX (Foreign) ATX (Foreign) Page 2 of 1235 09/26/2021 EU top applicants 2010-2014 Based on Assignees2014 5yr.tsv state_country_of_origin assignee_name FRANCE IMERJ, LTD. AUSTRIA INFINEON TECHNOLOGIES AG AUSTRIA ~INDIVIDUALLY OWNED PATENT AUSTRIA AMS AG AUSTRIA NXP B.V. AUSTRIA JULIUS BLUM GMBH AUSTRIA BAXTER INTERNATIONAL INC. AUSTRIA EPCOS AG AUSTRIA INFINEON TECHNOLOGIES AUSTRIA AG AUSTRIA MED-EL ELEKTROMEDIZINISCHE GERAETE GMBH AUSTRIA SIEMENS AKTIENGESELLSCHAFT AUSTRIA AVL LIST GMBH AUSTRIA MAGNA POWERTRAIN AG & CO KG AUSTRIA HILTI AKTIENGESELLSCHAFT AUSTRIA BOEHRINGER INGELHEIM INTERNATIONAL GMBH AUSTRIA FRONIUS INTERNATIONAL GMBH AUSTRIA SIEMENS VAI METALS TECHNOLOGIES GMBH AUSTRIA CONTINENTAL AUTOMOTIVE GMBH AUSTRIA INTEL MOBILE COMMUNICATIONS GMBH AUSTRIA MAGNA STEYR FAHRZEUGTECHNIK AG & CO. KG Page 3 of 1235 09/26/2021 EU top applicants 2010-2014 Based on Assignees2014 5yr.tsv CY_2010 CY_2011
    [Show full text]
  • INVESTOR & ANALYST MEETING December 15, 2016
    INVESTOR & ANALYST MEETING December 15, 2016 Forward Looking Statements Statements in this presentation that are not strictly historical, including any statements regarding events or developments that we believe or anticipate will or may occur in the future are "forward-looking" statements within the meaning of the federal securities laws. There are a number of important factors that could cause actual results, developments and business decisions to differ materially from those suggested or indicated by such forward-looking statements and you should not place undue reliance on any such forward-looking statements. These factors include, among other things, deterioration of or instability in the economy, the markets we serve and the financial markets, the impact of our restructuring activities on our ability to grow, contractions or growth rates and cyclicality of markets we serve, competition, our ability to develop and successfully market new products and technologies and expand into new markets, the potential for improper conduct by our employees, agents or business partners, our ability to successfully identify, consummate and integrate appropriate acquisitions and successfully complete divestitures and other dispositions, our ability to integrate the recent acquisitions of Pall Corporation and Cepheid and achieve the anticipated benefits of those transactions, contingent liabilities relating to acquisitions and divestitures (including tax-related and other contingent liabilities relating to the distributions of each of Fortive Corporation
    [Show full text]
  • Exhibit N-2: NYSE and AMEX UTP Issues by Issuer Name (As of 8/9/05) SYMBOL ISSUER NAME ISSUE TYPE MARKET a Agilent Technologies, Inc
    Exhibit N-2: NYSE and AMEX UTP Issues by Issuer Name (as of 8/9/05) SYMBOL ISSUER NAME ISSUE TYPE MARKET A Agilent Technologies, Inc. Common Stock or Equivalent NYSE AA Alcoa Inc. Common Stock or Equivalent NYSE AA.PR Alcoa Inc. Preferred Stock AMEX AAA Asco Plc Ads Common Stock or Equivalent NYSE AAC Ableauctions.Com Inc Common Stock or Equivalent AMEX AAI AirTran Holdings, Inc. Common Stock or Equivalent NYSE AAP Advance Auto Parts Inc Common Stock or Equivalent NYSE ABB ABB Ltd Common Stock or Equivalent NYSE ABC AmerisourceBergen Corporation (Holding Co) Common Stock or Equivalent NYSE ABD.WI Acco Brands Corporation Common Stock or Equivalent NYSE ABG Asbury Automotive Group Inc Common Stock or Equivalent NYSE ABI Applera Corporation Common Stock or Equivalent NYSE ABK Ambac Financial Group, Inc. Common Stock or Equivalent NYSE ABL American Biltrite Inc. Common Stock or Equivalent AMEX ABM ABM Industries Incorporated Common Stock or Equivalent NYSE ABN ABN Amro Holding N.V. Common Stock or Equivalent NYSE ABN.PRE ABN Amro Holding N.V. Other Securities NYSE ABN.PRF ABN Amro Holding N.V. Other Securities NYSE ABN.PRG ABN Amro Holding N.V. Other Securities NYSE ABP Abraxas Petroleum Corporation Common Stock or Equivalent AMEX ABR Arbor Realty Trust Common Stock or Equivalent NYSE ABS Albertson's, Inc. Common Stock or Equivalent NYSE ABT Abbott Laboratories Common Stock or Equivalent NYSE ABV Companhia de Bebidas das Americas - AmBev Common Stock or Equivalent NYSE ABV.C Companhia de Bebidas das Americas - AmBev Common Stock or Equivalent NYSE ABW.PRA Associated Banc-Corp Other Securities NYSE ABX Barrick Gold Corporation Common Stock or Equivalent NYSE ABY Abitibi-Consolidated, Inc.
    [Show full text]
  • 2 0 1 5 a N N U a L R E P O
    2015 ANNUAL REPORT FINANCIAL OPERATING HIGHLIGHTS (Dollars in Millions Except Per Share Data and Number of Associates) 2015 2014 Sales* $ 20,563.1 $ 19,154.0 Operating Profit* $ 3,469.1 $ 3,346.6 Net Earnings * $ 2,598.7 $ 2,543.1 Net Earnings Per Share (diluted) * $ 3.67 $ 3.56 Operating Cash Flow* $ 3,828.0 $ 3,618.0 Capital Expenditures* $ 633.0 $ 580.6 Free Cash Flow $ 3,195.0 $ 3,037.4 (Operating Cash Flow less Capital Expenditures) * Number of Associates 81,000 71,000 Total Assets $ 48,222.2 $ 36,991.7 Total Debt ** $ 12,870.4 $ 3,473.4 Stockholders’ Equity $ 23,764.0 $ 23,449.8 Total Capitalization $ 36,634.4 $ 26,923.2 (Total Debt plus Stockholders’ Equity) * From Continuing Operations ** Long-Term Debt ($12,025.2 for 2015 and $3,401.5 for 2014) plus Notes Payable and Current Portion of Long-Term Debt ($845.2 for 2015 and $71.9 for 2014) Environmental Our products help protect the global water supply, facilitate environmental stewardship, enhance the safety of personal data and improve business efficiencies. Our Water Quality platform provides instrumentation and disinfection systems to help analyze, treat and manage the quality of ultra-pure, potable, waste, ground and ocean water in residential, commercial, industrial and natural resource applications. Our Gilbarco Veeder-Root platform is a leading worldwide provider of solutions and services focused on fuel dispensing, remote fuel management, point-of-sale and payment systems, environmental compliance, vehicle tracking and fleet management. With a lightweight, compact and rugged design, the Surveyor HL and Hydrolab HL4 from OTT Hydromet, a division of Hach, help environmentalists measure a variety of water quality parameters in real-time, or for continuous unattended monitoring.
    [Show full text]
  • Finding a Way Through M&A
    RESEARCHNovember REPORT18, 2019 FindingNovember a Way through18, 2019 M&A Stock Rating HOLD Price Target CAD $123.58 Current Price CAD $140.49 Bear Price Bull Case Target Case $107.75 $123.58 $139.41 Ticker DHR Danaher Corporation Market Cap (MM) $102,707 Finding a Way through Market Cap/LFCF NTM 33.5x M&A EV/EBITDA NTM 22.5x 52 Week Performance After conducting an analysis of the Medical Devices space at large, the Healthcare Team decided that Danaher Corporation’s ability to 120 effectively use inorganic growth as a competitive advantage warrant a further look. This report outlines various elements of Danaher’s business that we wanted to gain conviction on before reaching a 100 decision on the name. Overall, we believe that Danaher’s highly disciplined M&A strategy that incorporates the Danaher Business System (DBS) and philosophy 80 of detail-oriented accountability has demonstrated a proven ability to select, integrate and grow acquisition targets. Coupled with its current business, we believe that Danaher has strong fundamentals. 60 Despite our conviction in Danaher’s fundamentals, our price target of 27-Feb-17 29-Apr-17 29-Jun-17 $123.58 is much lower than their current price of $140.59. Therefore, DHR S&PS&P 100 Index the Healthcare Team has decided on a stock rating of HOLD. Industrials Laura Wu [email protected] Ruby Harris [email protected] William Cao [email protected] The information in this document is for EDUCATIONAL and NON-COMMERCIAL use only and is not intended to Tina Huang constitute specific legal, accounting, financial or tax advice for any individual.
    [Show full text]
  • Worldreginfo - 16A54b73-D5e8-45F7-B39b-04548Fb81703 1984
    WorldReginfo - 16a54b73-d5e8-45f7-b39b-04548fb81703 1984 2019 2019 MARKED DANAHER’S 35TH ANNIVERSARY To honor this milestone, the front cover of this year's annual report features the original Danaher logo and bright blue color palette. We proudly celebrate our company's history as the prelude to a 35 future filled with opportunity. WorldReginfo - 16a54b73-d5e8-45f7-b39b-04548fb81703 By living our core values of building the best team, continuously improving, “ listening to our customers every day and driving innovation, we ultimately deliver long-term shareholder value.” Thomas P. Joyce, Jr. Financial Operating Highlights (dollars in millions except per share data and number of associates) 2019 2018 Sales $ 17,911.1 $ 17,048.5 Operating Profit $ 3,269.4 $ 3,055.1 Net Earnings $ 2,432.3 $ 2,406.3 Net Earnings Per Share (diluted) $ 3.26 $ 3.39 Operating Cash Flow $ 3,657.4 $ 3,644.0 Investing Cash Flow $ (1,166.1) $ (2,873.9) Financing Cash Flow $ 16,589.9 $ (797.4) Capital Expenditures $ (635.5) $ (583.5) Capital Disposals $ 12.8 $ 6.3 Free Cash Flow (Operating Cash Flow less Capital Expenditures plus Capital Disposals) $ 3,034.7 $ 3,066.8 Number of Associates 60,000 58,000 Total Assets* $ 62,081.6 $ 47,832.5 Total Debt ** $ 21,729.1 $ 9,740.3 Stockholders’ Equity $ 30,281.9 $ 28,226.7 Total Capitalization (Total Debt plus Stockholders’ Equity) $ 52,011.0 $ 37,967.0 * 2018 data includes both continuing and discontinued operations ** Long-Term Debt ($21,516.7 for 2019 and $9,688.5 for 2018) plus Notes Payable and Current Portion of Long-Term Debt ($212.4 for 2019 and $51.8 for 2018) All financial data set forth in this annual report relates solely to continuing operations unless otherwise indicated.
    [Show full text]
  • Danaher Corporation 2016 Annual Report
    2016 ANNUAL REPORT “ I see our future as a bright one. We have a terrific team of hard-working, dedicated associates around the world. We have exciting new products coming out, providing customers with new and innovative solutions to their daily work.” THOMAS P. JOYCE, JR. President and Chief Executive Officer FINANCIAL OPERATING HIGHLIGHTS (dollars in millions except per share data and number of associates) 2016 2015 Sales $ 16,882.4 $ 14,433.7 Operating Profit $ 2,750.9 $ 2,162.2 Net Earnings $ 2,153.4 $ 1,746.7 Net Earnings Per Share (diluted) $ 3.08 $ 2.47 Operating Cash Flow $ 3,087.5 $ 2,832.2 Capital Expenditures $ 589.6 $ 512.9 Free Cash Flow (Operating Cash Flow less Capital Expenditures) $ 2,497.9 $ 2,319.3 Number of Associates 62,000 59,000 Total Assets* $ 45,295.3 $ 48,222.2 Total Debt ** $ 12,269.0 $ 12,870.4 Stockholders’ Equity $ 23,076.8 $ 23,764.0 Total Capitalization (Total Debt plus Stockholders’ Equity) $ 35,345.8 $ 36,634.4 * Related to both continuing and discontinued operations ** Long-Term Debt ($9,674.2 for 2016 and $12,025.2 for 2015) plus Notes Payable and Current Portion of Long-Term Debt ($2,494.8 for 2016 and $845.2 for 2015) All financial data set forth in this annual report relates solely to continuing operations unless otherwise indicated. Life Sciences Every day, scientists around the world are working to understand the causes of and treatments for chronic diseases and infections at the cellular level. Our Life Sciences businesses make this leading-edge scientific research possible, and our capabilities extend beyond research to power the creation of biopharmaceuticals, cell therapies and more.
    [Show full text]
  • Danaher Corporation Annual Report 2018
    Danaher Corporation Annual Report 2018 Form 10-K (NYSE:DHR) Published: February 21st, 2018 PDF generated by stocklight.com UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________________ FORM 10-K (Mark One) ý ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2017 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-8089 ____________________________________ DANAHER CORPORATION (Exact name of registrant as specified in its charter) Delaware 59-1995548 (State or Other Jurisdiction of (I.R.S. Employer Incorporation or Organization) Identification Number) 2200 Pennsylvania Ave. N.W., Suite 800W Washington, D.C. 20037-1701 (Address of Principal Executive Offices) (Zip Code) Registrant’s telephone number, including area code: 202-828-0850 Securities Registered Pursuant to Section 12(b) of the Act: Title of Each Class Name of Each Exchange On Which Registered Common Stock $.01 par value New York Stock Exchange €600,000,000 1.000% Senior Notes due 2019 New York Stock Exchange €250,000,000 Floating Rate Senior Notes due 2022 New York Stock Exchange €800,000,000 1.700% Senior Notes due 2022 New York Stock Exchange €800,000,000 2.500% Senior Notes due 2025 New York Stock Exchange €600,000,000 1.200% Senior Notes due 2027 New York Stock Exchange Securities registered pursuant to Section 12(g) of the Act: NONE (Title of Class) Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.
    [Show full text]