Company: DHR
Filing Date: 2025-03-26
Form Type: ARS
Source: 0000313616-25-000085
Chunk: 138

Company: DANAHER CORP /DE/
Filing Date: 2025-03-26
Form: ARS
Chunk 138
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 portion of its non-U.S. pension liabilities related to one defined benefit plan to a third-party. Investment Gains (Losses) For investments in equity securities without readily available fair values, the Company has elected the Fair Value Alternative and records adjustments to fair value within net earnings. Additionally, the Company is a limited partner in partnerships that invest primarily in early stage companies. While the partnerships record these investments at fair value, the Company’s investments in the partnerships are accounted for under the equity method of accounting. The investment gains (losses) include realized and unrealized gains and losses 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 and related management fees and operating expenses. During the year ended December 31, 2024 the Company sold a portion of its shares of an equity method investment and recorded a realized investment gain of $180 million ($135 million after-tax). In addition, during 2023 and 2022 the Company recorded impairments of $31 million and $91 million, respectively, related to equity method investments that are reflected in unrealized investment gains (losses). NOTE 9. LEASES The Company has operating leases for office space, warehouses, distribution centers, research and development facilities, manufacturing locations and certain equipment, primarily automobiles. Many leases include one or more options to renew, some of which include options to extend for up to 30 years, and some leases include options to terminate within 30 days. In certain of the Company’s lease agreements, the rental payments are adjusted periodically to reflect actual charges incurred for common area maintenance, utilities, inflation and/or changes in other indexes. The Company’s finance leases were not material as of December 31, 2024 and 2023. ROU assets arising from finance leases are included in property, plant and equipment, net and the liabilities are included in notes payable and current portion of long- term debt and long-term debt in the accompanying Consolidated Balance Sheets. 77

The Consolidated Financial Statements include the following amounts related to operating leases where the Company is the lessee ($ in millions): 2024 2023 2022 Consolidated Statements of Earnings Fixed operating lease expense(a) $ 239 $ 207 $ 199 Variable operating lease expense 60 67 60 Total operating lease expense $ 299 $ 274 $ 259 Consolidated Statements of Cash Flows Cash paid for amounts included in