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Danaher Corp (DHR) SEC Filing 10-K Annual Report for the fiscal year ending Saturday, December 31, 2022

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Danaher Corp

HISTORY TOOLS
CIK: 1492459 Ticker: DHR

Exhibit 99.1
dhrlogofor8ksa62.jpg

DANAHER REPORTS FOURTH QUARTER AND FULL YEAR 2022 RESULTS
WASHINGTON, D.C., January 24, 2023 -- Danaher Corporation (NYSE: DHR) (the “Company”) today announced results for the fourth quarter and full year 2022. All results in this release reflect only continuing operations unless otherwise noted. Net earnings refers to net earnings attributable to common shareholders.
For the quarter ended December 31, 2022, net earnings were $2.2 billion, or $2.99 per diluted common share which represents a 25.0% year-over-year increase from the comparable 2021 period. Non-GAAP adjusted diluted net earnings per common share were $2.87 which represents a 6.5% increase over the comparable 2021 period.
Revenues increased 2.5% year-over-year in the fourth quarter of 2022 to $8.4 billion. Non-GAAP core revenue growth was 7.5%, including 7.5% non-GAAP base business core revenue growth.
For the full year 2022, net earnings were $7.1 billion, or $9.66 per diluted common share which represents a 13.5% year-over-year increase. Non-GAAP adjusted diluted net earnings per common share for the year were $10.95, which represents a 9.0% increase over the comparable 2021 amount.
Revenues for the full year 2022 increased 7.0% to $31.5 billion. Non-GAAP core revenue growth was 9.5%, including 8.0% non-GAAP base business core revenue growth.
Operating cash flow for the full year 2022 was $8.5 billion and non-GAAP free cash flow was $7.4 billion.
The Company provides forecasted sales only on a non-GAAP basis because of the difficulty in estimating the other components of GAAP revenue, such as currency translation, acquisitions and divested product lines.
Starting with the first quarter 2023, the Company will revise its definition of base business core growth to exclude revenues related to COVID-19 testing, vaccines and therapeutics, in addition to the exclusion of currency translation, acquisitions and divested product lines.
For the first quarter 2023, the Company anticipates that non-GAAP base business core revenue growth will be up mid-single digits. For the full year 2023, the Company anticipates non-GAAP base business core revenue to be up high-single digits.
Rainer M. Blair, President and Chief Executive Officer, stated, “2022 was another great year for Danaher. Broad-based strength across the portfolio helped us deliver nearly 10% core revenue growth and double-digit earnings per share growth. Our team executed well in a challenging operating environment, enabling us to expand operating margins and generate strong cash flows. We believe this strong execution, paired with our investments in innovation drove market share gains in many of our businesses.”
Blair continued, “Looking ahead, we believe the combination of our leading portfolio, the power of the Danaher Business System and the strength of our balance sheet position Danaher to continue generating sustainable, long-term shareholder value for many years to come.”
Danaher will discuss its results during its quarterly investor conference call today starting at 8:00 a.m. ET. The call and an accompanying slide presentation will be webcast on the “Investors” section of Danaher’s website, www.danaher.com, under the subheading “Events & Presentations” and additional materials will be posted to the same section of Danaher’s website. A replay of the webcast will be available in the same section of Danaher’s website shortly after the conclusion of the presentation and will remain available until the next quarterly earnings call.
The conference call can be accessed by dialing 800-245-3047 within the U.S. or by dialing +1 203-518-9765 outside the U.S. a few minutes before the 8:00 a.m. ET start and telling the operator that you are dialing in for Danaher’s earnings conference call (Conference ID: DHRQ422). A replay of the conference call will be available shortly after the conclusion of the call and until February 7, 2023. You can access the replay dial-in information on the “Investors” section of Danaher’s website under the subheading “Events & Presentations.” In addition, presentation materials relating to Danaher’s results have been posted to the “Investors” section of Danaher’s website under the subheading “Quarterly Earnings.”
ABOUT DANAHER
Danaher is a global science and technology innovator committed to helping its customers solve complex challenges and improving quality of life around the world. Its family of world class brands has leadership positions in the demanding and attractive health care, environmental and applied end-markets. With more than 20 operating companies, Danaher’s globally diverse team of approximately 81,000 associates is united by a common culture and operating system, the Danaher Business System, and its Shared Purpose, Helping Realize Life’s Potential. For more information, please visit www.danaher.com.
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The following information was filed by Danaher Corp (DHR) on Tuesday, January 24, 2023 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Danaher Corp's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Auditor Information
Cover Page
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Earnings
Consolidated Statements Of Stockholders' Equity
Accrued Expenses And Other Liabilities
Accrued Expenses And Other Liabilities (Accrued Expenses And Other Liabilities) (Details)
Accrued Expenses And Other Liabilities (Tables)
Acquisitions
Acquisitions (Fair Values Of The Assets Acquired And Liabilities) (Details)
Acquisitions (Narrative) (Details)
Acquisitions (Results Of Operations If Acquisition Was Consummated) (Details)
Acquisitions (Tables)
Business And Summary Of Significant Accounting Policies
Business And Summary Of Significant Accounting Policies (Classes Of Property, Plant And Equipment) (Details)
Business And Summary Of Significant Accounting Policies (Narrative) (Details)
Business And Summary Of Significant Accounting Policies (Policy)
Business And Summary Of Significant Accounting Policies (Schedule Of Inventory) (Details)
Business And Summary Of Significant Accounting Policies (Tables)
Business And Summary Of Significant Accounting Policies (Useful Lives Of Depreciable Assets) (Details)
Commitments
Commitments (Details)
Discontinued Operations And Environmental &Amp; Applied Solutions Separation
Discontinued Operations And Environmental &Amp; Applied Solutions Separation (Details)
Fair Value Measurements
Fair Value Measurements (Carrying Amounts And Fair Values Of Other Financial Instruments) (Details)
Fair Value Measurements (Financial Assets Carried At Fair Value) (Details)
Fair Value Measurements (Narrative) (Details)
Fair Value Measurements (Tables)
Financing
Financing (Commercial Paper Programs And Credit Facilities) (Narrative) (Details)
Financing (Components Of Debt) (Details)
Financing (Covenants And Redemption Provisions Applicable To Notes) (Narrative) (Details)
Financing (Long-Term Debt Repayments) (Narrative) (Details)
Financing (Lyons) (Narrative) (Details)
Financing (Other Narrative) (Details)
Financing (Schedule Of Minimum Principal Payments) (Table) (Details)
Financing (Tables)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (Narrative) (Details)
Goodwill And Other Intangible Assets (Rollforward Of Goodwill) (Details)
Goodwill And Other Intangible Assets (Schedule Of Finite-Lived Intangible Assets And Indefinite-Lived Intangible Assets By Major Class) (Details)
Goodwill And Other Intangible Assets (Tables)
Hedging Transactions And Derivative Financial Instruments
Hedging Transactions And Derivative Financial Instruments (Derivative And Nonderivative Debt Instruments) (Details)
Hedging Transactions And Derivative Financial Instruments (Summary Of Notional Values And Pretax Impact In Fair Values) (Details)
Hedging Transactions And Derivative Financial Instruments (Tables)
Income Taxes
Income Taxes (Deferred Income Tax Assets And Liabilities) (Details)
Income Taxes (Earnings From Continuing Operations Before Income Taxes) (Details)
Income Taxes (Narrative) (Details)
Income Taxes (Provision For Income Taxes From Continuing Operations) (Details)
Income Taxes (Reconciliation Of The Statutory Federal Income Tax Rate To The Effective Tax Rate) (Details)
Income Taxes (Reconciliation Of Unrecognized Tax Benefits) (Details)
Income Taxes (Tables)
Leases
Leases (Components Of Lease Expense) (Details)
Leases (Maturities Of Lease Liabilities) (Details)
Leases (Narrative) (Details)
Leases (Supplemental Balance Sheet Information) (Details)
Leases (Supplemental Cash Flow Information) (Details)
Leases (Tables)
Litigation And Contingencies
Litigation And Contingencies (Details)
Net Earnings Per Common Share From Continuing Operations
Net Earnings Per Common Share From Continuing Operations (Components Of Basic And Diluted Earnings Per Share) (Details)
Net Earnings Per Share From Continuing Operations (Narrative) (Details)
Net Earnings Per Share From Continuing Operations (Tables)
Nonoperating Income (Expense)
Nonoperating Income (Expense) (Narrative) (Details)
Nonoperating Income (Expense) (Schedule Of Nonoperating Income (Expense)) (Details)
Nonoperating Income (Expense) (Tables)
Other Operating Expenses
Other Operating Expenses (Details)
Pension And Other Postretirement Employee Benefit Plans
Pension And Other Postretirement Employee Benefit Plans (Abo) (Details)
Pension And Other Postretirement Employee Benefit Plans (Benefit Payments That Reflect Expected Future Service) (Details)
Pension And Other Postretirement Employee Benefit Plans (Components Of Net Periodic Pension And Postretirement Benefit (Cost)) (Details)
Pension And Other Postretirement Employee Benefit Plans (Fair Values Of Pension Plan Assets) (Details)
Pension And Other Postretirement Employee Benefit Plans (Funded Status Of Pension And Postretirement Benefit Plans) (Details)
Pension And Other Postretirement Employee Benefit Plans (Narrative) (Details)
Pension And Other Postretirement Employee Benefit Plans (Pbo) (Details)
Pension And Other Postretirement Employee Benefit Plans (Tables)
Pension And Other Postretirement Employee Benefit Plans (Weighted Average Assumptions Used To Determine Benefit Obligations) (Details)
Pension And Other Postretirement Employee Benefit Plans (Weighted Average Assumptions Used To Determine Net Periodic Pension Cost) (Details)
Revenue
Revenue (Narrative) (Details)
Revenue (Performance Obligations) (Details)
Revenue (Revenue Disaggregation By Geographical Region And Revenue Type) (Details)
Revenue (Tables)
Schedule Ii???Valuation And Qualifying Accounts
Schedule Ii???Valuation And Qualifying Accounts (Details)
Segment Information
Segment Information (Narrative) (Details)
Segment Information (Sales By Major Product Group) (Details)
Segment Information (Schedule Of Operations In Geographical Areas) (Details)
Segment Information (Segment Results) (Details)
Segment Information (Tables)
Stockholders' Equity And Stock-Based Compensation
Stockholders' Equity And Stock-Based Compensation (Assumptions Used In The Black-Scholes Model To Value Options Granted) (Details)
Stockholders' Equity And Stock-Based Compensation (Components Of Accumulated Other Comprehensive Income) (Details)
Stockholders' Equity And Stock-Based Compensation (Components Of Share-Based Compensation Program) (Details)
Stockholders' Equity And Stock-Based Compensation (Narrative) (Details)
Stockholders' Equity And Stock-Based Compensation (Option Activity Under The Company's Stock Plans) (Details)
Stockholders' Equity And Stock-Based Compensation (Summary Of Options Outstanding) (Details)
Stockholders' Equity And Stock-Based Compensation (Summary Of Share Activity) (Details)
Stockholders' Equity And Stock-Based Compensation (Summary Of Unvested Rsu And Psu Activity) (Details)
Stockholders' Equity And Stock-Based Compensation (Tables)
Ticker: DHR
CIK: 313616
Form Type: 10-K Annual Report
Accession Number: 0000313616-23-000087
Submitted to the SEC: Wed Feb 22 2023 4:40:48 PM EST
Accepted by the SEC: Wed Feb 22 2023
Period: Saturday, December 31, 2022
Industry: Industrial Instruments For Measurement Display And Control

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