Company: DHR
Filing Date: 2025-04-22
Form Type: 10-Q
Source: 0000313616-25-000088
Chunk: 41

Company: DANAHER CORP /DE/
Filing Date: 2025-04-22
Form: 10-Q
Item: Item 1
Chunk 41
---
 period ended March 28, 2025 compared to losses of $948 million for the three-month period ended March 29, 2024.  The foreign currency translation gains in the three-month period ended March 28, 2025 were primarily driven by the change in the exchange rates between the U.S. dollar and the Swedish krona.  Foreign currency translation adjustments reflect the gain or loss resulting from the impact of the change in currency exchange rates on the Company’s foreign operations as they are translated to the Company’s reporting currency, the U.S. dollar.  The Company recorded gains of $156 million from cash flow hedge adjustments related to the Company’s cross-currency swap derivative contracts for the three-month period ended March 28, 2025 as compared to losses of $50 million for the comparable period of 2024.   

29

LIQUIDITY AND CAPITAL RESOURCES

Management assesses the Company’s liquidity in terms of its ability to generate cash to fund its operating, investing and financing activities.  The Company continues to generate substantial cash from operating activities and believes that its operating cash flow, cash on hand and other sources of liquidity will be sufficient to allow it to continue investing in existing businesses (including capital expenditures), consummating strategic acquisitions and investments, paying interest and servicing debt, paying dividends and funding restructuring activities, as well as to repurchase common stock when deemed appropriate and manage its capital structure on a short-term and long-term basis.

The Company has relied primarily on borrowings under its commercial paper program to address liquidity requirements that exceed the capacity provided by its operating cash flows and cash on hand, while also accessing the capital markets from time to time including to secure financing for more significant acquisitions.  Subject to any limitations that may result from market disruptions, the Company anticipates following the same approach in the future.

Overview of Cash Flows and Liquidity

Following is an overview of the Company’s cash flows and liquidity ($ in millions):

Three-Month Period EndedMarch 28, 2025March 29, 2024Net cash provided by operating activities$1,299 $1,739 Payments for additions to property, plant and equipment(245)(291)Proceeds from sales of property, plant and equipment6 — Payments for purchases of investments(18)(53)Proceeds from sales of investments5 9 Proceeds from sale of product line9 — All other investing activities1 14 Total cash used in investing activities$(242)$(321)Payments