Company: DHR
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0000313616-25-000043
Chunk: 216

Company: DANAHER CORP /DE/
Filing Date: 2025-02-20
Form: 10-K
Item: Item 5
Chunk 216
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, Western Europe or high-growth markets.(c) The Company defines high-growth markets as Eastern Europe, the Middle East, Africa, Latin America (including Mexico) and Asia (with the exception of Japan, Australia and New Zealand).  The Company defines developed markets as all markets of the world that are not high-growth markets. 

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The Company’s products and services primarily consist of life sciences research, biopharmaceutical drug production and medical diagnostic products and services.  The Company sells equipment to customers as well as consumables, software and services, some of which customers purchase on a recurring basis.  Consumables sold for use with the equipment sold by the Company are typically critical to the use of the equipment and are typically used on a one-time or limited basis, requiring frequent replacement in the customer’s operating cycle.  Examples of these consumables include reagents used in diagnostic tests, chromatography resins used for research and bioprocessing and filters used in filtration, separation and purification processes.  Additionally, some of the Company’s consumables are used on a standalone basis, such as custom nucleic acids, genomics solutions, antibodies and immunoassays.  The Company separates its goods and services between those typically sold to a customer on a recurring basis and those typically sold to a customer on a nonrecurring basis.  Recurring revenue primarily includes revenue from consumables (both used with Company equipment and used on a standalone basis), services and OTLs.  Nonrecurring revenue includes sales of equipment, point in time software licenses and STLs.  OTLs and STLs are included in the above revenue amounts.  For the years ended December 31, 2024, 2023 and 2022, lease revenue was $402 million, $410 million and $419 million, respectively.Remaining Performance ObligationsRemaining performance obligations represent the aggregate transaction price allocated to performance obligations with an original contract term greater than one year which are fully or partially unsatisfied at the end of the period.  Remaining performance obligations include noncancelable purchase orders, the non-lease portion of minimum purchase commitments under long-term consumable supply arrangements, extended warranty and service and other long-term contracts.  These remaining performance obligations do not include revenue from contracts with customers with an original term of one year or less, revenue from long-term consumable supply arrangements with no minimum purchase requirements or revenue expected from purchases made in excess of the minimum purchase requirements or revenue from equipment leased to customers.  While the remaining