Company: DHR
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0000313616-25-000043
Chunk: 165

Company: DANAHER CORP /DE/
Filing Date: 2025-02-20
Form: 10-K
Item: Item 5
Chunk 165
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 demand in China as customers were cautious with their investments.  Year-over-year core sales in the bioprocessing business decreased as core sales declines in the first half of the year more than offset core sales growth in the second half.  The revenue decline in the first half of the year was primarily due to lower demand as customers reduced their inventory levels.  The bioprocessing business returned to core growth in the second half of 2024 primarily driven by improved consumables demand, primarily in North America and Europe.  Core sales in the discovery and medical business decreased year-over-year due primarily to lower demand for equipment, partially offset by an increase in demand for consumables.  

38

Operating Profit Performance

Operating profit margins declined 170 basis points during 2024 as compared to 2023.  The following factors impacted year-over-year operating profit margin comparisons.

2024 vs. 2023 operating profit margin comparisons were unfavorably impacted by:

•Lower 2024 core sales, reduced leverage in the segment’s operational and administrative cost structure and the impact of product mix, net of 2023 inventory write-offs - 245 basis points

2024 vs. 2023 operating profit margin comparisons were favorably impacted by:

•2023 impairment charges related to technology-based intangible assets and other assets - 75 basis points

Amortization of intangible assets as a percentage of sales increased in 2024 as compared with 2023 due to the decrease in sales and relatively consistent amortization expense year-over-year.  

LIFE SCIENCES

The Life Sciences segment offers a broad range of instruments, consumables, services and software that are primarily used by customers to study the basic building blocks of life, including DNA and RNA, nucleic acid, proteins, metabolites and cells, in order to understand the causes of disease, identify new therapies, and test and manufacture new drugs, vaccines and gene editing technologies.  Additionally, the segment provides products and consumables used to filter and remove contaminants from a variety of liquids and gases in many end-market applications. 

Life Sciences Selected Financial Data 

 Year Ended December 31($ in millions)202420232022Sales$7,329 $7,141 $7,036 Operating profit879 1,209 1,414 Depreciation 167 129 112 Amortization of intangible assets576 429 419 Operating profit as a % of sales12.0 %16.9 %20.1 %