Company: DHR
Filing Date: 2025-07-22
Form Type: 10-Q
Source: 0000313616-25-000153
Chunk: 119

Company: DANAHER CORP /DE/
Filing Date: 2025-07-22
Form: 10-Q
Item: Item 8
Chunk 119
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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 $3,156 Cash paid for acquisitions$— $(12)Payments for additions to property, plant and equipment(493)(578)Proceeds from sales of property, plant and equipment10 1 Payments for purchases of investments(50)(127)Proceeds from sales of investments10 9 Proceeds from sale of product line9 — All other investing activities14 26 Total cash used in investing activities$(500)$(681)Proceeds from the issuance of common stock in connection with stock-based compensation, net$14 $76 Payment of dividends(423)(377)Net borrowings (maturities longer than 90 days)4 — Net (repayments of) proceeds from borrowings (maturities of 90 days or less)(1)15 Net repayments of borrowings (maturities longer than 90 days)— (974)Payments for repurchase of common stock (1,078)(4,530)All other financing activities(18)(58)Total cash used in financing activities$(1,502)$(5,848