Company: DHR
Filing Date: 2025-04-22
Form Type: 10-Q
Source: 0000313616-25-000088
Chunk: 93

Company: DANAHER CORP /DE/
Filing Date: 2025-04-22
Form: 10-Q
Item: Item 8
Chunk 93
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 three-month period ended March 28, 2025 was $7 million higher than the comparable period of 2024.

Interest income of $6 million for the three-month period ended March 28, 2025 was $54 million lower than the comparable period of 2024, due primarily to lower average cash balances in 2025 as a result of share repurchases and acquisitions.

INCOME TAXES

The following table summarizes the Company’s effective tax rate: 

Three-Month Period EndedMarch 28, 2025March 29, 2024Effective tax rate15.5 %14.4 %

The Company operates globally, including in certain jurisdictions with lower tax rates than the U.S. federal statutory rate.  Therefore, the impact of Danaher’s global operations and benefits from tax credits and incentives contributes to a lower effective tax rate compared to the U.S. federal statutory tax rate.  For each period presented, the effective tax rate differs from the U.S. federal statutory rate of 21.0% principally due to the impact of the Company’s global operations, research tax credits, foreign-derived intangible income and aggregate net discrete benefits or charges. 

For the three-month period ended March 28, 2025, net discrete tax benefits of $10 million reduced the effective tax rate by 0.9% and related primarily to changes in estimates of prior year tax filing positions, release of reserves for uncertain tax positions due to the expiration of statutes of limitation and excess tax benefits from stock-based compensation, net of charges related to changes in estimates associated with prior period uncertain tax positions.

For the three-month period ended March 29, 2024, net discrete tax benefits of $36 million reduced the effective tax rate by 2.8% and related primarily to excess tax benefits from stock-based compensation, release of reserves for uncertain tax positions due to the expiration of statutes of limitation and changes in estimates associated with prior period uncertain tax positions.

The Company (including its subsidiaries) conducts business globally, and files numerous consolidated and separate income tax returns in federal, state and foreign jurisdictions.  In addition to the Company’s significant presence in the U.S., the Company also has a significant presence in China, Denmark, Germany, Singapore, Sweden, Switzerland and the United Kingdom.  Excluding these jurisdictions, the Company believes that a change in the statutory tax rate of any 

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individual foreign country would not have a material impact on the Company’s financial statements given the geographical dispersion of the