10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
DANAHER CORP /DE/ | |||
Ticker: DHR Fiscal Year: 2021 | |||
Consolidated Statements Of Earnings | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 23, 2022) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Sales | $ 29,453 | 22,284 | 17,911 |
| Cost of sales | (11,501) | (9,809) | (7,927) |
| Gross profit | 17,952 | 12,475 | 9,984 |
| Operating costs: | |||
| Selling, general and administrative expenses | (8,198) | (6,896) | (5,589) |
| Research and development expenses | (1,742) | (1,348) | (1,126) |
| Other operating expenses | (547) | 0 | 0 |
| Operating profit | 7,465 | 4,231 | 3,269 |
| Nonoperating income (expense): | |||
| Other income (expense), net | 456 | 494 | 12 |
| Loss on early extinguishment of borrowings | (96) | (26) | (7) |
| Interest expense | (238) | (275) | (108) |
| Interest income | 11 | 71 | 139 |
| Earnings from continuing operations before income taxes | 7,598 | 4,495 | 3,305 |
| Income taxes | (1,251) | (849) | (873) |
| Net earnings from continuing operations | 6,347 | 3,646 | 2,432 |
| Earnings from discontinued operations, net of income taxes | 86 | 0 | 576 |
| Net earnings | 6,433 | 3,646 | 3,008 |
| Mandatory convertible preferred stock dividends | (164) | (136) | (68) |
| Net earnings attributable to common stockholders | 6,269 | 3,510 | 2,940 |
| Net earnings per common share: | |||
| Net earnings per common share from continuing operations, basic | 8.65 | 4.97 | 3.31 |
| Net earnings per common share from continuing operations, diluted | 8.50 | 4.89 | 3.26 |
| Net earnings per common share from discontinued operations, basic | 0.12 | 0.00 | 0.81 |
| Net earnings per common share from discontinued operations, diluted | 0.12 | 0.00 | 0.79 |
| Net earnings per common share, basic | 8.77 | 4.97 | 4.11 [1] |
| Net earnings per common share, diluted | 8.61 | 4.89 | 4.05 |
| Average common stock and common equivalent shares outstanding: | |||
| Basic | 714,600 | 706,200 | 715,000 |
| Diluted | 736,800 | 718,700 | 725,500 |
| [1] * Net earnings per common share amount does not add due to rounding. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
DANAHER CORP /DE/ | |||
Ticker: DHR Fiscal Year: 2021 | |||
Consolidated Statements Of Comprehensive Income | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 23, 2022) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Net earnings | $ 6,433 | 3,646 | 3,008 |
| Other comprehensive income (loss), net of income taxes: | |||
| Foreign currency translation adjustments | (1,284) | 2,919 | (74) |
| Pension and postretirement plan benefit adjustments | 378 | (147) | (90) |
| Cash flow hedge adjustments | 247 | (72) | (113) |
| Total other comprehensive income (loss), net of income taxes | (659) | 2,700 | (277) |
| Comprehensive income | 5,774 | 6,346 | 2,731 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
DANAHER CORP /DE/ | |||
Ticker: DHR Fiscal Year: 2021 | |||
Consolidated Statements Of Cash Flows | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 23, 2022) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Cash flows from operating activities: | |||
| Net earnings | $ 6,433 | 3,646 | 3,008 |
| Less: earnings from discontinued operations, net of income taxes | (86) | 0 | (576) |
| Net earnings from continuing operations | 6,347 | 3,646 | 2,432 |
| Noncash items: | |||
| Depreciation | 718 | 637 | 564 |
| Amortization of intangible assets | 1,450 | 1,138 | 625 |
| Amortization of acquisition-related inventory fair value step-up | 59 | 457 | 0 |
| Stock-based compensation expense | 218 | 187 | 159 |
| Contract settlement expense | 542 | 0 | 0 |
| Pretax loss on early extinguishment of borrowings | 96 | 26 | 7 |
| Pretax gain on sale of product lines and investment (gains) losses | (414) | (455) | 0 |
| Change in deferred income taxes | (229) | 518 | (415) |
| Change in trade accounts receivable, net | (611) | (264) | (157) |
| Change in inventories | (502) | (123) | (22) |
| Change in trade accounts payable | 549 | 227 | 18 |
| Change in prepaid expenses and other assets | (4) | 102 | 48 |
| Change in accrued expenses and other liabilities | 139 | 119 | 398 |
| Total operating cash provided by continuing operations | 8,358 | 6,215 | 3,657 |
| Total operating cash (used in) provided by discontinued operations | 0 | (7) | 295 |
| Net cash provided by operating activities | 8,358 | 6,208 | 3,952 |
| Cash flows from investing activities: | |||
| Cash paid for acquisitions | (10,961) | (20,971) | (331) |
| Payments for additions to property, plant and equipment | (1,294) | (791) | (636) |
| Proceeds from sales of property, plant and equipment | 13 | 2 | 13 |
| Payments for purchases of investments | (934) | (342) | (241) |
| Proceeds from sales of investments | 126 | 13 | 0 |
| Proceeds from sale of product lines | 26 | 826 | 0 |
| All other investing activities | 37 | 24 | 29 |
| Total cash used in investing activities from continuing operations | (12,987) | (21,239) | (1,166) |
| Total investing cash used in discontinued operations | 0 | 0 | (72) |
| Net cash used in investing activities | (12,987) | (21,239) | (1,238) |
| Cash flows from financing activities: | |||
| Proceeds from the issuance of common stock in connection with stock-based compensation | 86 | 153 | 130 |
| Proceeds from the public offering of common stock, net of issuance costs | 0 | 1,729 | 1,443 |
| Proceeds from the public offering of preferred stock, net of issuance costs | 0 | 1,668 | 1,600 |
| Net proceeds from the sale of Envista Holdings Corporation common stock, net of issuance costs | 0 | 0 | 643 |
| Payment of dividends | (742) | (615) | (527) |
| Net proceeds from (repayments of) borrowings (maturities of 90 days or less) | 2,265 | (4,637) | 2,802 |
| Proceeds from borrowings (maturities longer than 90 days) | 984 | 8,670 | 12,113 |
| Repayments of borrowings (maturities longer than 90 days) | (1,186) | (5,933) | (1,565) |
| Make-whole premiums to redeem borrowings prior to maturity | (96) | (26) | (7) |
| All other financing activities | (16) | (3) | (43) |
| Total financing cash provided by continuing operations | 1,295 | 1,006 | 16,589 |
| Cash distributions to Envista Holdings Corporation, net | 0 | 0 | (224) |
| Net cash provided by financing activities | 1,295 | 1,006 | 16,365 |
| Effect of exchange rate changes on cash and equivalents | (115) | 148 | 45 |
| Net change in cash and equivalents | (3,449) | (13,877) | 19,124 |
| Beginning balance of cash and equivalents | 6,035 | 19,912 | |
| Ending balance of cash and equivalents | 2,586 | 6,035 | 19,912 |
| Supplemental disclosure: | |||
| Shares redeemed through the split-off of Envista Holdings Corporation | 0 | 0 | 3,452 |
| Shares held as Treasury shares | 22,900 | ||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
DANAHER CORP /DE/ | ||
Ticker: DHR Fiscal Year: 2021 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2021 10-K (Filed: Feb 23, 2022) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2021 | Dec 31, 2020 | |
| ASSETS | ||
| Current assets: | ||
| Cash and equivalents | $ 2,586 | 6,035 |
| Trade accounts receivable, less allowance for doubtful accounts of $124 as of December 31, 2021 and $132 as of December 31, 2020 | 4,631 | 4,045 |
| Inventories | 2,767 | 2,292 |
| Prepaid expenses and other current assets | 1,664 | 1,430 |
| Total current assets | 11,648 | 13,802 |
| Property, plant and equipment, net | 3,790 | 3,262 |
| Other long-term assets | 3,719 | 2,395 |
| Goodwill | 41,184 | 35,420 |
| Other intangible assets, net | 22,843 | 21,282 |
| Total assets | 83,184 | 76,161 |
| LIABILITIES AND STOCKHOLDERS EQUITY | ||
| Current liabilities: | ||
| Notes payable and current portion of long-term debt | 8 | 11 |
| Trade accounts payable | 2,569 | 2,049 |
| Accrued expenses and other liabilities | 5,563 | 5,342 |
| Total current liabilities | 8,140 | 7,402 |
| Other long-term liabilities | 7,699 | 7,789 |
| Long-term debt | 22,168 | 21,193 |
| Stockholders equity: | ||
| Preferred stock, no par value, 15.0 million shares authorized; 1.65 million shares of 4.75% Mandatory Convertible Preferred Stock, Series A, issued and outstanding as of December 31, 2021 and December 31, 2020; 1.72 million shares of 5.00% Mandatory Convertible Preferred Stock, Series B, issued and outstanding as of December 31, 2021 and December 31, 2020 | 3,268 | 3,268 |
| Common stock - $0.01 par value, 2.0 billion shares authorized; 855.7 million issued and 715.0 million outstanding as of December 31, 2021; 851.3 million issued and 711.0 million outstanding as of December 31, 2020 | 9 | 9 |
| Additional paid-in capital | 10,090 | 9,698 |
| Retained earnings | 32,827 | 27,159 |
| Accumulated other comprehensive income (loss) | (1,027) | (368) |
| Total Danaher stockholders equity | 45,167 | 39,766 |
| Noncontrolling interests | 10 | 11 |
| Total stockholders equity | 45,177 | 39,777 |
| Total liabilities and stockholders equity | 83,184 | 76,161 |
| External Links | |
| DANAHER CORP /DE/ (DHR) Fiscal Year 2021 | |
| Statements of 10-K in Excel | https://www.sec.gov/.../Financial.xlxs |
| Complete 10-K in HTML | https://www.sec.gov/.../10-K.html |
| Complete 10-K in XBRL | https://www.sec.gov/.../10-K-xbrl.zip |