Company: DHR
Filing Date: 2025-03-26
Form Type: ARS
Source: 0000313616-25-000085
Chunk: 123

Company: DANAHER CORP /DE/
Filing Date: 2025-03-26
Form: ARS
Chunk 123
---
 discontinued operations based on the ratio of the discontinued business’ net assets to the Company’s consolidated net assets. As a result of the Separation, the Company incurred $145 million and $9 million in Separation-related costs during the years ended December 31, 2023 and 2022, respectively, which are reflected in earnings from discontinued operations, net of income taxes in the accompanying Consolidated Statements of Earnings. These costs primarily relate to professional fees associated with preparation of regulatory filings and activities within finance, tax, legal and information technology functions as well as certain investment banking fees and tax costs incurred upon the Separation. In connection with the Separation, Danaher and Veralto entered into various agreements to effect the Separation and provide a framework for their relationship after the Separation, including a separation and distribution agreement, transition services agreement, an employee matters agreement, a tax matters agreement, an intellectual property matters agreement and a Danaher Business System (“DBS”) license agreement. These agreements provide for the allocation between Danaher and Veralto of assets, employees, liabilities and obligations (including investments, property, employee benefits and tax-related assets and liabilities) attributable to periods prior to, at and after Veralto’s separation from Danaher and govern certain relationships between Danaher and Veralto after the Separation. In addition, Danaher is also party to various commercial agreements with Veralto entities. The amounts paid and received by Danaher for transition services provided under the above agreements as well as sales and purchases to and from Veralto were not material to the Company’s results of operations for the years ended December 31, 2024 and 2023. The key components of income from the Veralto business from discontinued operations for the years ended December 31 were as follows ($ in millions): 2023 2022 Sales $ 3,712 $ 4,828 Cost of sales (1,556) (2,067) Selling, general and administrative expenses (1,236) (1,392) Research and development expenses (168) (217) Other income (expense) (14) 1 Interest expense (7) (7) Income from discontinued operations before income taxes 731 1,146 Income tax expense (188) (265) Earnings from discontinued operations, net of income taxes $ 543 $ 881 68

NOTE 4. NET EARNINGS PER COMMON SHARE FROM CONTINUING OPERATIONS Basic net earnings per share