Company: DHR
Filing Date: 2025-03-26
Form Type: ARS
Source: 0000313616-25-000085
Chunk: 143

Company: DANAHER CORP /DE/
Filing Date: 2025-03-26
Form: ARS
Chunk 143
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 5 $ — $ — Investment in equity securities 218 234 3 16 — — — — Cross-currency swap derivative contracts 415 291 — — 415 291 — — Available-for-sale debt securities, which are included in other long-term assets in the accompanying Consolidated Balance Sheets, are measured at fair value using quoted prices reported by investment brokers and dealers based on the underlying terms of the security and comparison to similar securities traded on an active market. As of December 31, 2023 available-for-sale debt securities primarily included U.S. Treasury Notes and corporate debt securities. The Company’s investments in equity securities consist of investments in publicly traded equity securities and investments in non-marketable equity securities. The publicly traded securities are classified as Level 1 in the fair value hierarchy as they are measured based on quotes in active markets. For the non-marketable equity securities, the Company estimates the fair value of the investments using the Fair Value Alternative. The Company’s investments in these equity securities are not classified in the fair value hierarchy due to the use of these measurement methods. The Company’s investments in partnerships are accounted for under the equity method of accounting and are not subject to fair value measurement disclosures. As of both December 31, 2024 and 2023, the Company’s equity method investments included investments in partnerships with a carrying value of approximately $1.4 billion. During the years ended December 31, 2024, 2023 and 2022, the Company recorded net realized and unrealized losses of $57 million, $182 million and $271 million, respectively, related to changes in the fair value of the Company’s investments in equity securities and the Company’s equity in earnings of the partnerships that reflect the changes in fair value of the investments of the partnerships. Refer to Note 8 for additional information on gains and losses on the Company’s investments, including investments in the partnerships. 80

The cross-currency swap derivative contracts are classified as Level 2 in the fair value hierarchy as they are measured using the income approach with the relevant interest rates and current foreign currency exchange rates and forward curves as inputs. Refer to Note 14 for additional information. Fair Value of Other Financial Instruments The carrying amounts and fair values of the Company’s other financial instruments as of December 31 were as follows ($ in millions): 2024 2023 Carrying Amount Fair Value Carrying Amount Fair Value Debt obligations: Notes payable and current portion of long-term debt $ 505 $ 502 $ 1,