Company: DHR
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0000313616-25-000043
Chunk: 33

Company: DANAHER CORP /DE/
Filing Date: 2025-02-20
Form: 10-K
Item: Item 8
Chunk 33
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:Federal U.S.$239 $559 $232 Non-U.S.929 1,271 1,042 State and local62 197 126 Deferred:Federal U.S.(300)(737)(362)Non-U.S.(141)(338)(145)State and local(42)(129)(75)Income tax provision$747 $823 $818 Noncurrent deferred tax assets and noncurrent deferred tax liabilities are included in other assets and other long-term liabilities, respectively, in the accompanying Consolidated Balance Sheets.  Deferred income tax assets and liabilities as of December 31 were as follows ($ in millions):20242023Deferred tax assets:Allowance for doubtful accounts$20 $18 Inventories114 120 Pension and postretirement benefits— 25 Environmental and regulatory compliance38 37 Other accruals and prepayments631 574 Stock-based compensation expense122 115 Operating lease liabilities255 252 Research and development expense584 441 Tax credit and loss carryforwards760 557 Valuation allowances(232)(234)Total deferred tax asset2,292 1,905 Deferred tax liabilities:Pension and postretirement benefits(9)— Property, plant and equipment(136)(125)Insurance, including self-insurance(400)(315)Operating lease ROU assets(238)(228)Goodwill and other intangibles(3,300)(3,429)Total deferred tax liability(4,083)(4,097)Net deferred tax liability$(1,791)$(2,192)The Company evaluates the future realizability of tax credits and loss carryforwards considering the anticipated future earnings of the Company’s subsidiaries as well as tax planning strategies in the associated jurisdictions.  Deferred taxes associated with U.S. entities consist of net deferred tax liabilities of $337 million and $832 million as of December 31, 2024 and 2023, respectively.  Deferred taxes associated with non-U.S. entities consist of net deferred tax liabilities of approximately $1.5 billion and $1.4 billion as of December 31, 2024 and 2023, respectively.  During 2024, the Company’s valuation allowance decreased by $2 million due to the utilization of tax attributes which were previously not realizable, partially offset by increases related to acquisitions and certain tax benefits recognized in 2024 that are not expected to be realized.  As of December 31, 2024