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

Company: DANAHER CORP /DE/
Filing Date: 2025-02-20
Form: 10-K
Item: Item 8
Chunk 20
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 2022 and the impact of the adoption was not significant.In August 2023, the FASB issued ASU 2023-05, Business Combinations—Joint Venture Formations (Subtopic 805-60): Recognition and Initial Measurement.  The ASU requires that a joint venture apply a new basis of accounting upon formation in which the joint venture will recognize and initially measure its assets and liabilities at fair value (with exceptions to fair value measurement that are consistent with the business combinations guidance).  The ASU is effective prospectively for all joint venture formations with a formation date on or after January 1, 2025, with early adoption permitted.  The Company early adopted the ASU effective September 30, 2023 on a prospective basis. In November 2023, the FASB issued ASU 2023-07, Improvements to Reportable Segment Disclosures.  The ASU requires additional disclosures about reportable segments’ significant expenses on an interim and annual basis.  The Company adopted the ASU effective January 1, 2024, and interim periods within fiscal years beginning after December 15, 2024 on a retrospective basis.  Refer to Note 6 for additional segment disclosures. Accounting Standards Not Yet Adopted—In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures.  The ASU expands disclosures in the income tax rate reconciliations table and cash taxes paid and is effective for annual periods beginning after December 15, 2024.  This accounting standard will increase disclosures in the Company’s annual reporting but will have no impact on reported income tax expense or related tax assets or liabilities.In November 2024, the FASB issued ASU 2024-03, Disaggregation of Income Statement Expenses.  The ASU requires disclosure of disaggregated information about certain income statement expenses, including specific expense categories.  The ASU is effective for annual periods beginning after December 15, 2026 and interim periods within fiscal years beginning after December 15, 2027.  This accounting standard will increase disclosures in the Company’s annual and interim reporting but will have no impact on reported income statement expense captions.

NOTE 2.  ACQUISITIONS 

The Company continually evaluates potential acquisitions that either strategically fit with the Company’s existing portfolio or expand the Company’s portfolio into a new and attractive business area.  The Company has completed a number of acquisitions that have been accounted