Company: DHR
Filing Date: 2025-07-22
Form Type: 10-Q
Source: 0000313616-25-000153
Chunk: 52

Company: DANAHER CORP /DE/
Filing Date: 2025-07-22
Form: 10-Q
Item: Item 1
Chunk 52
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 27, 2025 compared to losses of $827 million for the six-month period ended June 28, 2024.  The foreign currency translation gains in the three and six-month periods ended June 27, 2025 were primarily 

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driven by the change in the exchange rates between the U.S. dollar, Swedish krona, the euro and the British pound.  Foreign currency translation adjustments reflect the gain or loss resulting from the impact of the change in currency exchange rates on the Company’s foreign operations as they are translated to the Company’s reporting currency, the U.S. dollar.  The Company recorded gains of $13 million and $169 million from cash flow hedge adjustments related to the Company’s cross-currency swap derivative contracts for the three and six-month periods ended June 27, 2025, respectively, as compared to gains of $30 million and losses of $20 million for the comparable periods of 2024.   

LIQUIDITY AND CAPITAL RESOURCES

Management assesses the Company’s liquidity in terms of its ability to generate cash to fund its operating, investing and financing activities.  The Company continues to generate substantial cash from operating activities and believes that its operating cash flow, cash on hand and other sources of liquidity will be sufficient to allow it to continue investing in existing businesses (including capital expenditures), consummating strategic acquisitions and investments, paying interest and servicing debt, paying dividends and funding restructuring activities, as well as to repurchase common stock when deemed appropriate and manage its capital structure on a short-term and long-term basis.

The Company has relied primarily on borrowings under its commercial paper program to address liquidity requirements that exceed the capacity provided by its operating cash flows and cash on hand, while also accessing the capital markets from time to time including to secure financing for more significant acquisitions or to take advantage of favorable interest rate environments or other market conditions.  Subject to any limitations that may result from market disruptions, the Company anticipates following the same approach in the future.

Overview of Cash Flows and Liquidity

Following is an overview of the Company’s cash flows and liquidity ($ in millions):

Six-Month Period EndedJune 27, 2025June 28, 2024Net cash provided by operating activities$2,637 $3,156 Cash paid for acquisitions$— $(12)Payments for additions to property, plant and equipment(493)(578)Proceeds from sales of property, plant and equipment10 1 Payments for purchases of investments(50