Company: DHR
Filing Date: 2025-03-26
Form Type: ARS
Source: 0000313616-25-000085
Chunk: 153

Company: DANAHER CORP /DE/
Filing Date: 2025-03-26
Form: ARS
Chunk 153
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 denominated long-term debt as partial hedges of its net investments in foreign operations against adverse movements in exchange rates between the U.S. dollar and the euro, Japanese yen and Swiss franc. These debt issuances are designated and qualify as nonderivative hedging instruments. Accordingly, the foreign currency translation of these debt instruments is recorded in accumulated OCI, offsetting the foreign currency translation adjustment of the Company’s related net investment that is also recorded in accumulated OCI. These instruments mature on dates ranging from September 2026 to May 2032. The Company used interest rate swap agreements to hedge the variability in cash flows due to changes in benchmark interest rates related to a portion of the debt the Company issued. These contracts effectively fixed the interest rate for a portion of the Company’s debt equal to the notional amount of the swaps to the rate specified in the interest rate swap agreements and were settled in November 2019 and December 2021. The changes in the fair value of these instruments were recorded in accumulated OCI prior to the issuance of the debt and are subsequently being reclassified to interest expense over the life of the related debt. 85

The following table summarizes the notional values as of December 31, 2024 and 2023 and pretax impact of changes in the fair values of instruments designated as net investment hedges and cash flow hedges in accumulated OCI for the year then ended ($ in millions): Original Notional Amount Notional Amount Outstanding Gain (Loss) Recognized in OCI Amounts Reclassified from OCI Year ended December 31, 2024: Net investment hedges: Cross-currency contracts $ 3,875 $ 3,000 $ 128 $ — Foreign currency denominated debt 3,042 3,042 249 — Cash flow hedges: Cross-currency contracts 4,000 2,600 (4) (111) Interest rate swaps 1,600 — — 3 Total $ 12,517 $ 8,642 $ 373 $ (108) Year ended December 31, 2023: Net investment hedges: Cross-currency contracts $ 3,875 $ 3,000 $ (148) $ — Foreign currency denominated debt 4,263 4,263 (102) — Cash flow hedges: Cross-currency contracts 4,000 3,300 (214) 107 Interest rate swaps 1,600 — — 3 Total $ 13,738 $ 10,563 $ (464) $