Company: DHR
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0000313616-25-000043
Chunk: 240

Company: DANAHER CORP /DE/
Filing Date: 2025-02-20
Form: 10-K
Item: Item 5
Chunk 240
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 to repurchase some or all of its notes at a purchase price equal to 100% of the principal amount of the notes, plus accrued and unpaid interest and certain swap-related losses as applicable, in certain circumstances whereby such holder comes into violation of economic sanctions laws as a result of holding such notes.The respective indentures or comparable governing documents under which the above-described notes and bonds were issued contain customary covenants including, for example, limits on the incurrence of secured debt and sale-leaseback transactions.  None of these covenants are considered restrictive to the Company’s operations and as of December 31, 2024, the Company was in compliance with all of its debt covenants.Long-Term Indebtedness Related to the Veralto SeparationIn September 2023, the Company received net cash distributions of approximately $2.6 billion from the Veralto Distribution.  Veralto financed these cash payments through the issuance of approximately $2.6 billion of debt, consisting of $700 million aggregate principal amount of 5.50% senior unsecured bonds due 2026, $700 million aggregate principal amount of 5.35% senior unsecured bonds due 2028, $700 million aggregate principal amount of 5.45% senior unsecured bonds due 2033 and €500 million aggregate principal amount of 4.15% senior unsecured bonds due 2031 (collectively, the “Veralto Debt”).  Danaher initially guaranteed the Veralto Debt, and the guarantee automatically terminated effective as of the Distribution Date.  As of September 30, 2023 in connection with the Separation, the Veralto Debt was solely an obligation of Veralto and is no longer reflected in the Company’s Consolidated Financial Statements.Long-Term Debt RepaymentsOn November 15, 2024, the Company repaid the $700 million 2024 Biopharma Notes upon their maturity using available cash.  The €900 million aggregate principal amount of the 2024 Euronotes were repaid upon their maturity on April 2, 2024 using cash distributions from Veralto prior to the Separation.  The CHF 540 million aggregate principal amount of the 2023 CHF Bonds were repaid upon their maturity on December 8, 2023.  On June 30, 2022, the Company repaid the €250 million aggregate principal amount of the