Company: DHR
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0000313616-25-000043
Chunk: 211

Company: DANAHER CORP /DE/
Filing Date: 2025-02-20
Form: 10-K
Item: Item 5
Chunk 211
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 of operations that actually would have been achieved had the acquisitions been consummated as of that time ($ in millions except per share amounts):20242023Sales$23,933 $24,427 Net earnings from continuing operations3,892 4,138 Diluted net earnings per common share from continuing operations(a)5.28 5.54 (a) Diluted net earnings from continuing operations for 2023 is calculated by taking net earnings from continuing operations and excluding the anti-dilutive MCPS dividends.

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The 2024 unaudited pro forma net earnings from continuing operations set forth above were adjusted to exclude the pretax impact of a $25 million nonrecurring acquisition date fair value adjustment to inventory.  The 2023 unaudited pro forma net earnings from continuing operations were adjusted to exclude the pretax impact of $68 million of nonrecurring acquisition date fair value adjustments to inventory and the settlement of pre-acquisition share-based payment awards related to the Abcam Acquisition.  In addition, acquisition-related transaction costs of $27 million pretax for the year ended December 31, 2023 associated with the Abcam Acquisition were excluded from pro forma net earnings from continuing operations. 

NOTE 3.  DISCONTINUED OPERATIONS  

On September 30, 2023 (the “Distribution Date”), the Company completed the separation (the “Separation”) of its former Environmental & Applied Solutions business by distributing to Danaher stockholders on a pro rata basis all of the issued and outstanding common stock of Veralto Corporation (“Veralto”), the entity Danaher incorporated to hold such businesses.  To effect the Separation, Danaher distributed to its stockholders one share of Veralto common stock for every three shares of Danaher common stock outstanding as of September 13, 2023, the record date for the distribution.  Fractional shares of Veralto common stock that otherwise would have been distributed were aggregated and sold into the public market and the proceeds distributed to Danaher stockholders who otherwise would have received fractional shares of Veralto common stock.In preparation for the Separation, in September 2023 Veralto issued approximately $2.6 billion in debt securities (refer to Note 13).  The proceeds from these issuances were used to fund the approximately $2.6 billion net cash distributions Veralto made to Danaher prior to the Distribution Date (“Veral