Danaher 2005 Annual Report Download

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FORM 10-K
DANAHER CORP /DE/ - DHR
Filed: March 15, 2006 (period: December 31, 2005)
Annual report with a comprehensive overview of the company
The information contained herein may not be copied, adapted or distributed and is not warranted to be accurate, complete or timely. The user
assumes all risks for any damages or losses arising from any use of this information, except to the extent such damages or losses cannot be
limited or excluded by applicable law. Past financial performance is no guarantee of future results.

Table of contents

  • Page 1
    ... FORM 10-K DANAHER CORP /DE/ - DHR Filed: March 15, 2006 (period: December 31, 2005) Annual report with a comprehensive overview of the company The information contained ... damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future results.

  • Page 2
    ... 31, 2005 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-8089 DANAHER CORPORATION (Exagt... DANAHER CORP /DE/, 10-K, March 15, 2006 Acceleratedofileroo ¨ Non-acceleratedofileroo ¨ Powered...

  • Page 3
    ... APPEARS ON PAGE 75 Source: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered by Morningstar® Document Research℠The... from any use of this information, except to the extent such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future...

  • Page 4
    ...TABLE OF CONTENTS PAGE PARToI Itemo1. Business RiskoFactors UnresolvedoStaffoComments Properties LegaloProceedings 3 Itemo1A. ...DANAHER CORP /DE/, 10-K, March 15, 2006 Powered... damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future...

  • Page 5
    ...: Segment 2005 For the years ended Degember 31 2004 2003 ProfessionaloInstrumentation IndustrialoTechnologies Toolso&oComponents 3 47% 37% 16% 43% 38% 19% 37% 40% 23% Source: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered by Morningstar...

  • Page 6
    ... Company'sosegmentsoandosalesobyogeography...acquisitions...oVEEDER-ROOT,...Source: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered by... of this information, except to the extent such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future...

  • Page 7
    ...,oandosalesoare madeotoocustomersothroughoaocombinationoofotheocompany'sodirectosalesopersonnel,oindependentorepresentativesoandoindependentodistributors. 5 Source: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered by Morningstar® Document Research℠The information...

  • Page 8
    ...INDUSTRIAL TECHNOLOGIES... Company'sodirectosalesopersonneloandoindependentodistributors. 6 Source: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered by..., except to the extent such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future...

  • Page 9
    ... of Business, BacClog, Employee Relations, Research and Development, Government Contracts, Regulatory Matters, International Operations, Major Customers oandoOther Matters oincludeoinformation commonotooalloofotheoCompany'sosegments. 7 Source: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered by...

  • Page 10
    ... 31 ($ in millions) Segment 2005 2004 2003 ProfessionaloInstrumentation IndustrialoTechnologies Toolso&oComponents Total $ 232 o 135 o 12 $ 379 8 $ 173 o 112 o 9 $ 294 $ 107 o 90 o 10 $ 207 Source: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered by Morningstar® Document Research℠The...

  • Page 11
    ... 9 Source: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered by Morningstar® Document...for any damages or losses arising from any use of this information, except to the extent such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future...

  • Page 12
    ...Factors." Medical Devices ...reporting... Source: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered by Morningstar...any use of this information, except to the extent such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future...

  • Page 13
    ...oorofurnishingosuchomaterialoto,otheoSEC.oTheoCompany's InternetositeoandotheoinformationocontainedothereinooroconnectedotheretooareonotoincorporatedobyoreferenceointoothisoFormo10-K. 11 Source: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered by Morningstar® Document Research℠The information...

  • Page 14
    ... that we have identified as material, but are not the only risCs and uncertainties facing us. Our business is also subject to general risCs and uncertainties that affect many other companies, such as overall U.S. and non-U.S. economic and industry conditions, including a global economic slowdown...

  • Page 15
    ...acquisitions. The indemnification provisions of acquisition agreements by which we have acquired companies may not fully protect us and may result...of our business that could adversely affect our results of operations...results of operations and reputation...DANAHER CORP /DE/, 10-K, March 15, 2006 Powered...

  • Page 16
    ...reputation. Our reputation and our ability to do business may be impaired by improper conduct by any of our employees, agents or business partners...,oweomayonotobeoableotooproduceosufficient 14 Source: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered by Morningstar® Document Research...

  • Page 17
    ...International economic, political, legal, accounting and business factors could negatively affect our results...benefit pension plans...Source: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered by ... cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future...

  • Page 18
    ...business...acquisitions.oSomeoofotheseolawsuitsoincludeoclaimsoforopunitiveoandoconsequentialoasowelloasocompensatoryodamages.oWhileotheoCompanyomaintainsoworkers compensation...1996 2002 1991 2002 2004 Source: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered by Morningstar® Document Research℠The ...

  • Page 19
    ...Partners...2005...65 o 51.44 $.0125 o .0150 o .0150 o .0150 Source: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered by Morningstar® Document Research℠The information contained herein may not be copied, ...limited or excluded by applicable law. Past financial performance is no guarantee of ...

  • Page 20
    ... Plans or Programs ...per Share Maximum Number of Shares that May Yet Be Purghased Under The Plans or Programs 10/1/05-10/31/05 (1) 11/1/05-11/30/05(1) 12...Company...DANAHER CORP /DE/, 10-K, March 15, 2006 Powered...limited or excluded by applicable law. Past financial performance is no guarantee of ...

  • Page 21
    ...Contents ITEM 6. SELECTED FINANCIAL DATA (in thousands, exgept per share information) 2005 2004 2003 2002 2001 Sales OperatingoProfit $ 7,984,704 o 1,264,668...DANAHER CORP /DE/, 10-K, March 15, 2006 Powered...limited or excluded by applicable law. Past financial performance is no guarantee of ...

  • Page 22
    ...FINANCIAL CONDITION AND RESULTS OF OPERATIONS ...Company...businesses...KaVo...DANAHER CORP /DE/, 10-K, March 15, 2006 Powered...this information, except to the extent such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future...

  • Page 23
    ... ended Degember 31 ($ in millions) 2005 2004 2003 Sales OperatingoProfit Operatingoprofitoasoao%oofosales $3,782.1o o 677.0o o 17.9% 21 $2,963.5o o 554.5o o 18.7% $1,939.7o o 362.6o o 18.7% Source: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered by Morningstar® Document Research℠The...

  • Page 24
    ... 2004.oSalesofromoexistingobusinessesoaccountedoforo6.5%ogrowth.oAcquisitionsoaccountedoforo8.5%ogrowthoandofavorableocurrencyotranslationoaccountedofor 1.0%ogrowth. 22 Source: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered by Morningstar® Document Research℠The information contained herein...

  • Page 25
    ...Radiometer...businesses... Businesses ... 23 Source: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered by Morningstar® ...arising from any use of this information, except to the extent such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future...

  • Page 26
    ... o 383.1o o 14.6% 2005 vs. 2004 $2,157.0o o 311.7o o 14.5% 2004 vs. 2003 Components of Sales Growth Existingobusinesses Acquisitions Impactoofoforeignocurrency Total 24 5.0% 6.0% 0.0% 9.0% 9.5% 3.0% 11.0% 21.5% Source: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered by Morningstar® Document...

  • Page 27
    ...Contents 2005 ...Businesses within Industrial...Motion...25 Source: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered by Morningstar... any use of this information, except to the extent such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future...

  • Page 28
    ... of Businesses within Industrial Teghnologies ... in millions) 2005 2004 2003 Sales Operatingoprofit Operatingoprofitoasoao%oofosales $1,294.5o o 199.3o o 15.4% 26 $ 1,306.3o o 198.3o o 15.2% $1,197.2o o 173.8o o 14.5% Source: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered by Morningstar®...

  • Page 29
    ... Growth 2005 vs. 2004 2004 vs. 2003 Existingobusinesses Divestiture Impactoofoforeignocurrency Total 2005 COMPARED ...DANAHER CORP /DE/, 10-K, March 15, 2006 Powered...the extent such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future...

  • Page 30
    ... PROFIT For the years ended Degember 31, ($ in millions) 2005 2004 2003 Sales Costoofosales Grossoprofit Grossoprofitomargin $7,984.7o o 4,539.7o...2005...PLAN...DANAHER CORP /DE/, 10-K, March 15, 2006 Powered...limited or excluded by applicable law. Past financial performance is no guarantee of ...

  • Page 31
    ... AND FINANCING TRANSACTIONS ...acquisitions...2005.... 29 Source: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered by Morningstar® Document... this information, except to the extent such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future...

  • Page 32
    ...Company.... 30 Source: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered by Morningstar® Document...losses arising from any use of this information, except to the extent such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future...

  • Page 33
    ..., ($ in millions) 2005 2004 2003 Totalooperatingocashoflows Purchasesoofoproperty,...DANAHER CORP /DE/, 10-K, March 15, 2006 Powered ...this information, except to the extent such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future...

  • Page 34
    ...2005... Company'...acquisition... 32 Source: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered by Morningstar® ... arising from any use of this information, except to the extent such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future...

  • Page 35
    ...&oVoightoGmbho(KaVo)oforoâ,¬350omilliono... Source: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered by Morningstar...arising from any use of this information, except to the extent such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future...

  • Page 36
    ...company...Technology...Company...'s 34 Source: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered by Morningstar® Document...use of this information, except to the extent such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future...

  • Page 37
    ... Retirement & Employee Benefit Plans ...35 Source: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered by Morningstar®... from any use of this information, except to the extent such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future...

  • Page 38
    ... Company.... 36 Source: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered by Morningstar® Document... or losses arising from any use of this information, except to the extent such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future...

  • Page 39
    ... Company....Company...Company...compensation,oproperty,ocargo,oauto,oproduct, 37 Source: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered..., except to the extent such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future...

  • Page 40
    ...earnings. 38 Source: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered by Morningstar® Document ...or losses arising from any use of this information, except to the extent such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future...

  • Page 41
    .... 39 Source: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered by Morningstar® Document...damages or losses arising from any use of this information, except to the extent such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future...

  • Page 42
    ...." 40 Source: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered by Morningstar® Document...use of this information, except to the extent such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future...

  • Page 43
    ...Report of Management on Danaher Corporation's Internal Control Over Finangial Reporting...: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered by...information, except to the extent such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future...

  • Page 44
    ...Reporting...Corporation...Company...oMaryland Februaryo22,o2006 42 Source: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered by Morningstar® Document Research℠...except to the extent such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future...

  • Page 45
    ...Report...Corporation...,oasotoowhichotheodateoisoMarcho14,o2006 43 Source: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered by Morningstar® Document Research℠... to the extent such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future...

  • Page 46
    ...DANAHER CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS Year Ended Degember 31 (in thousands) 2005...Source: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered by... such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future...

  • Page 47
    ...DANAHER CORPORATION AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS As of Degember 31 (in thousands) 2005.... 45 Source: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered by Morningstar® Document...limited or excluded by applicable law. Past financial performance is no guarantee of ...

  • Page 48
    ...DANAHER CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS Year Ended Degember 31 (in thousands) 2005.... 46 Source: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered by Morningstar® Document...limited or excluded by applicable law. Past financial performance is no guarantee of ...

  • Page 49
    ... DANAHER CORPORATION AND SUBSIDIARIES...2005... SeeotheoaccompanyingoNotesotootheoConsolidatedoFinancialoStatements. 47 Source: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered by Morningstar® Document Research...limited or excluded by applicable law. Past financial performance is no guarantee of ...

  • Page 50
    ...BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Business...Source: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered by ... use of this information, except to the extent such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future...

  • Page 51
    ...programs.... 49 Source: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered by Morningstar® Document... this information, except to the extent such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future...

  • Page 52
    ...2005.... (2) ACQUISITIONS AND DIVESTITURES...acquisition...50 Source: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered by Morningstar® ...of this information, except to the extent such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future...

  • Page 53
    ...acquisition...&oVoigtoGmbHo("KaVo")oforoâ,¬... 51 Source: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered by Morningstar® ...any use of this information, except to the extent such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future...

  • Page 54
    ...2005...,061) o (52,342) o (44,608) $ 312,283o 52 Source: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered by Morningstar® Document Research℠The information contained herein may not be copied, adapted or...be limited or excluded by applicable law. Past financial performance is no guarantee of future...

  • Page 55
    ...2005 Agquisitions 2005 Leiga Linx...885,083o Signifigant 2004 Agquisitions KaVo 2004 Trojan Radiometer All Others Total AccountsoReceivable Inventory...2005...DANAHER CORP /DE/, 10-K, March 15, 2006 Powered... be limited or excluded by applicable law. Past financial performance is no guarantee of future...

  • Page 56
    ...Radiometer KaVo Trojan Linx Total Planned...Involuntary Employee Termination Benefits: BalanceoDecembero31,o2002 ...DANAHER CORP /DE/, 10-K, March 15, 2006 Powered...extent such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future...

  • Page 57
    ...inothousands): Degember 31, 2005 Degember 31, 2004 Finishedogoods...55 Source: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered by Morningstar... information, except to the extent such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future...

  • Page 58
    ...oplantoandoequipmentoareosummarizedoasofollowso(inothousands): Degember 31, 2005 Degember 31, 2004 Landoandoimprovements ...technologies...DANAHER CORP /DE/, 10-K, March 15, 2006 Powered... or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future...

  • Page 59
    ...2005,otheocompanyorepaidotheseonotesoinotheoamountoofo$362omillionoasorequiredouponomaturity. 57 Source: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered...except to the extent such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future...

  • Page 60
    ...PENSION BENEFIT PLANS: .... 58 Source: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered by Morningstar® Document...use of this information, except to the extent such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future...

  • Page 61
    ...used to determine benefit obligations measured at September 30: U. S. Plans Non-U.S. Plans 2005 2004 2005 2004 Discountorate Rateoofocompensationoincrease 5.50% 4.00% 5.75% 4.00% 4.05% 3.00% 5.50% 2.90% 59 Source: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered by Morningstar® Document...

  • Page 62
    ... gost measured at September 30: U. S. Pension Non-U.S. Pension Benefits 2005 2004 2005 2004 ...Benefits Non-U.S. Pension Benefits 2005 2004 2005...DANAHER CORP /DE/, 10-K, March 15, 2006 Powered...limited or excluded by applicable law. Past financial performance is no guarantee of ...

  • Page 63
    ...Change in plan assets Fairovalueoofoplanoassetsoatobeginningoandoendoofoyear Fundedostatus Accruedocontribution Unrecognizedoloss Unrecognizedoprioroserviceocredit Accruedobenefitocost o -ooo o (105.4) o 1.7o o 46.0o o (48.9) o (106.6) 61 Source: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered by...

  • Page 64
    ...Retirement Medigal Benefits 2005 2004 Components of net periodig benefit...determine net periodig benefit gost measured at September 30: 2005 2004 Discountorate ...DANAHER CORP /DE/, 10-K, March 15, 2006 Powered...limited or excluded by applicable law. Past financial performance is no guarantee of ...

  • Page 65
    ...oSeeoNoteo18oforofurtheroinformation. 63 Source: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered by Morningstar® Document ...any use of this information, except to the extent such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future...

  • Page 66
    ... compensation,...64 Source: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered by Morningstar®... losses arising from any use of this information, except to the extent such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future...

  • Page 67
    ...2005...2005... (131,156) o 85,953o o (8,840) $ (233,229) Source: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered by Morningstar® Document Research℠The information contained herein may not be copied, adapted or...limited or excluded by applicable law. Past financial performance is no guarantee of ...

  • Page 68
    ...Pre-tax Earnings 2005 2004 2003 Statutoryofederaloincomeotaxorate...DANAHER CORP /DE/, 10-K, March 15, 2006 Powered ... from any use of this information, except to the extent such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future...

  • Page 69
    ...of Contents For the Year Ended Degember 31, 2005: (in thousands, exgept per share amounts)... DANAHER CORP /DE/, 10-K, March 15, 2006 Powered ...information, except to the extent such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future...

  • Page 70
    ...o23.55operoshare) Cancelledo(averageo$o39.00operoshare) Outstanding at Degember 31, 2005 (ato$o10.41otoo$o57.14operoshare,oaverageo$o34.14operoshare) 18,800o...2005...DANAHER CORP /DE/, 10-K, March 15, 2006 Powered...limited or excluded by applicable law. Past financial performance is no guarantee of ...

  • Page 71
    ...oexceptoperoshareoamounts): 2005 2004 2003... 69 Source: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered by Morningstar®...from any use of this information, except to the extent such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future...

  • Page 72
    ...2005... 2005 2004 2003 TotaloSales: UnitedoStates Germany UnitedoKingdom Alloother Long-livedoassets: UnitedoStates Germany ... Source: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered by Morningstar...limited or excluded by applicable law. Past financial performance is no guarantee of ...

  • Page 73
    ...16) QUARTERLY DATA-UNAUDITED (In Thousands, Exgept Per Share Data): 2005 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Netosales ...17) NEW ACCOUNTING ...ESPPs...DANAHER CORP /DE/, 10-K, March 15, 2006 Powered...limited or excluded by applicable law. Past financial performance is no guarantee of ...

  • Page 74
    ...result...company...Technology...(income)oino2005. 72 Source: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered by Morningstar® Document Research℠... except to the extent such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future...

  • Page 75
    ...ITEM 9A. CONTROLS AND PROCEDURES...Danaher'sowebsiteoatowww.danaher...,oatowww.danaher.com,...: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered by...information, except to the extent such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future...

  • Page 76
    ...DANAHER CORPORATION.... 74 Source: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered by Morningstar® Document...any use of this information, except to the extent such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future...

  • Page 77
    ...of Contents DANAHER CORPORATION EXHIBIT ...Plan...2005....oLawrence Culp,oJr.* 75 Source: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered by... this information, except to the extent such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future...

  • Page 78
    ...,o2003obyoandoamongoDanaher Corporation,oBankoofoAmerica,...76 Source: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered by Morningstar® ... this information, except to the extent such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future...

  • Page 79
    ...oLINDAoP.oHEFNER LindaoP.oHefner Director Director /s/oDANIELoL.oCOMAS DanieloL.oComas ExecutiveoViceoPresidentoandoChiefoFinancialoOfficer /s/oROBERToS.oLUTZ RobertoS.oLutz ViceoPresidentoandoChiefoAccountingoOfficer 77 Source: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered by Morningstar...

  • Page 80
    ... Report ... Februaryo22,o2006 78 Source: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered by Morningstar® Document Research℠...of this information, except to the extent such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future...

  • Page 81
    Table of Contents DANAHER CORPORATION AND SUBSIDIARIES SCHEDULE II-VALUATION AND.... 79 Source: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered by Morningstar® Document... be limited or excluded by applicable law. Past financial performance is no guarantee of future...

  • Page 82
    ... of the Company's coard of Directors (the "officers"). The compensation arrangements consist of base salary, benefits and perquisites, and, for all officers other than Messrs. Steven M. Rales and Mitchell P. Rales, annual cash incentive compensation and equity awards. Except for Mr. Culp, who is...

  • Page 83
    ... and Restated Danaher Corporation 1998 Stock Option Plan, which is attached as Exhibits 10.1 and 10.2 the on Form 10-K, or any successor stockholder-approved equity compensation plan. Employment Agreements and Noncompete Agreements All officers (other than Messrs. H. Lawrence Culp, Jr., Patrick...

  • Page 84
    ...non-management directors are eligible for grants of equity awards under the Amended and Restated Danaher Corporation 1998 Stock Option Plan, which is attached as Exhibit 10.1 and Exhibit 10.2 to Danaher's Annual Report on Form 10-K for the year ended December 31, 2005. Source: DANAHER CORP /DE/, 10...

  • Page 85
    ...21.1 DANAHER CORPORATION & SUBSIDIARIES Company Name Jurisdiction Organized AB Cualitrol AKM ABEK LLC AC Intermediate Co. ACC Motion GmbH ACCU-Sort Asia Pacific PTE.LTD ACCU-SORT Europe GmbH Sweden Delaware Ohio Germany Singapore Germany ACCU-SORT Systems Australia PTY.LTD ACCU-SORT Systems, Inc...

  • Page 86
    ... Danaher Tool (Shanghai) Ltd. Cayman Islands Delaware Illinois Germany Netherlands Denmark Germany Hong Kong Hong Kong Iceland Japan Germany Vermont Germany Luxembourg Germany Sweden Korea India Israel Japan Delaware Switzerland Italy Czech Republic France Sweden Sweden Delaware Delaware China...

  • Page 87
    ... Biomedical LLC California Delaware Delaware New South Wales Belgium Norway France Germany Delaware Delaware Hong Kong Washington Denmark Germany Brazil Ontario Delaware Fluke China Limited Fluke Corporation Fluke Denmark A/S Fluke Deutschland GmbH Fluke Do Brazil LTDA. Fluke Electronics Canada...

  • Page 88
    ... (UK) Gilbarco SpA Gilbarco Verwaltungs GmbH Gilbert & Barker (NZ) PTY LTD Gwendoline Holdings Ltd. Hach Company Hach Lange A/S Hach Lange AB Finland France Netherlands Sweden Cayman Islands Spain Netherlands Washington Netherlands Italy Japan Netherlands Netherlands Norway England China Singapore...

  • Page 89
    ...France Germany Slovakia Delaware Ontario Delaware Delaware Cayman Islands Hungary Ireland Italy Delaware Delaware Minnesota Switzerland Argentina California Hunfin Kft. / Hunfin Asset Management Limited Liability Company Hunfin Limited ICG Holdings Srl Industrial Fasteners, Inc. Industrial Sensors...

  • Page 90
    ... Kong Ontario Delaware Jacobs Chuck Trading Co. Ltd. (Shanghai) Jacobs Holding Company Jacobs Mexico, S.A.de C.V. Jacobs Vehicle Systems, Inc. Jennings Land Company Jennings Technology Company, LLC Jessie & J Company Limited Joslyn Canada Joslyn Clark Controls, LLC Joslyn Electronic Systems Company...

  • Page 91
    ... Limited (UK) Leica Microsystems Ltd (Hong Kong) Leica Microsystems Ltd Shanghai Leica Microsystems Nussloch GmbH Leica Microsystems Pty Ltd Leica Microsystems S.A.S. Leica Microsystems S.p.A. England Delaware Nova Scotia Germany Japan England Hong Kong China Germany Australia France Italy Leica...

  • Page 92
    ... Co. Ltd. LEM NORMA GmbH Light Controls Corp. Linear Motion LLC Linx Acquisition Limited Linx Asia Limited Linx Printing Technologies PLC Austria Austria Germany Netherlands Germany Brussels England Wisconsin China Austria Delaware Delaware England Hong Kong England England France England England...

  • Page 93
    ..., LLC Pacific Scientific GmbH Pacific Scientific Motion Control Ltd. PacSci Motion Control, Inc. Germany England Massachusetts Paris Nova Scotia Unlimited Liability Company Pelton & Crane Petroleum Industry Controls, Inc. Piccadilly Precision Engineering LTD Portescap Danaher Motion Malaysia SDN...

  • Page 94
    ...Ireland Japan England Denmark China Netherlands New Zealand Australia Switzerland France Poland Japan England California Brazil Germany Mauritius Japan England France Switzerland Arizona Delaware England England Delaware Setra Sensing Technology (Tianjin) Co., LTD Setra Systems, Inc. Shanghai Safa...

  • Page 95
    ... S.L. Trojan Technologies France S.A.S. Trojan Technologies Inc. Trojan US Holdings Inc. Trojan UV Holdings Corp. TrojanUV Technologies UK Limited Truck Storage Incorporated U.S. Peroxide LLC Universal Technic SAS Utica Holding Company Veeder-Root Company China Sweden Ontario Ontario Germany Spain...

  • Page 96
    ...Videojet Technologies Inc. China Japan Netherlands Canada Netherlands Austria Germany Delaware Videojet Technologies Kodlama ve Etiketleme Danismanlik ve Ticaret LTD.STI Videojet Technologies LTD Videojet Technologies Pte Ltd (Asia HC) Turkey England Singapore Singapore Singapore France Videojet...

  • Page 97
    ... Italy Switzerland Willett Magyarorszag Nyomtatas - es Kodolastechnikat Willett Overseas Limited Willett S.A. (Uruguay) Willett S.r.l. Willett Systeme AG Zhuhai FTZ Videojet CIJ TEchnologies CO. LTD Zhuhai S.E.Z. Videojet Electronics Ltd. Zipher Limited China China England Source: DANAHER CORP...

  • Page 98
    ...Retirement and Savings Plan; Savings Plan Amended and Restated Executive Deferred Incentive Program 1998 Stock Option Plan 333-117678 333-107500 333-105198 333-59269 July 27, 2004 July 31, 2003 May 13, 2003 July 16, 1998 Ernst & Young LLP Baltimore, Maryland March 14, 2006 Source: DANAHER CORP...

  • Page 99
    ...a significant role in the registrant's internal control over financial reporting. Date: March 15, 2006 By: /s/ H. Lawrence Culp, Jr. Name: H. Lawrence Culp, Jr. Title: President and Chief Executive Officer Source: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered by Morningstar® Document Research...

  • Page 100
    ... role in the registrant's internal control over financial reporting. Date: March 15, 2006 By: /s/ Daniel L. Comas Name: Daniel L. Comas Title: Executive Vice President and Chief Financial Officer Source: DANAHER CORP /DE/, 10-K, March 15, 2006 Powered by Morningstar® Document Research...

  • Page 101
    ... presents in all material respects the financial condition and results of operations of Danaher Corporation. Date: March 15, 2006 By: /s/ H. Lawrence Culp, Jr. Name: H. Lawrence Culp, Jr. Title: President and Chief Executive Officer This certification accompanies the Annual Report on Form 10...

  • Page 102
    ...information contained in such Annual Report on Form 10-K fairly presents in all material respects the financial condition and results of operations of Danaher Corporation. Date: March 15, 2006 By: /s/ Daniel L. Comas Name: Daniel L. Comas Title: Executive Vice President and Chief Financial Officer...