Danaher 2009 Annual Report Download - page 55

Table of Contents
The provisions of the U.S. Pension Protection Act of 2006, enacted in August 2006 changed the minimum funding requirements for the Company’s U.S.
defined benefit pension plan beginning in 2009. During 2009, the Company voluntarily contributed $60 million to its U.S. defined benefit pension plan and
approximately $34 million to its non-U.S. defined benefit pension plans. During 2010, the Company’s cash contribution requirements are expected to be
approximately $24 million for its U.S. plan, however, the ultimate amounts to be contributed depend upon, among other things, underlying asset returns. The
Company expects to contribute approximately $34 million in employer contributions and unfunded benefit payments to the non-U.S. plans in 2010.
Contractual Obligations
The following table sets forth, by period due or year of expected expiration, as applicable, a summary of the Company’s contractual obligations as of
December 31, 2009 under (1) long-term debt obligations, (2) leases, (3) purchase obligations and (4) other long-term liabilities reflected on the Company’s
balance sheet under GAAP. The amounts presented in the table below do not reflect $503 million of gross unrecognized tax benefits, the timing of which is
uncertain. Refer to Note 14 to the Consolidated Financial Statements for additional information on unrecognized tax benefits.
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Long-Term Debt Obligations (a)(b) $2,906.0 $ 42.9 $190.5 $777.4 $1,895.2
Capital Lease Obligations (b) 27.2 1.3 3.0 3.6 19.3
Total Long-Term Debt 2,933.2 44.2 193.5 781.0 1,914.5
Interest Payments on Long-Term Debt and Capital Lease Obligations (c) 827.7 77.2 150.4 149.1 451.0
Operating Lease Obligations (d) 375.7 115.3 136.7 67.3 56.4
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Purchase Obligations (e) 495.6 477.7 16.5 1.2 0.2
Other Long-Term Liabilities Reflected on the Company’s Balance Sheet Under GAAP (f) 1,705.1 — 326.0 282.5 1,096.6
 $6,337.3 $714.4 $823.1 $1,281.1 $3,518.7
(a) As described in Note 9 to the Consolidated Financial Statements.
(b) Amounts do not include interest payments. Interest on long-term debt and capital lease obligations is reflected in a separate line in the table.
(c) Interest payments on long-term debt are projected for future periods using the interest rates in effect as of December 31, 2009. Certain of these projected
interest payments may differ in the future based on changes in market interest rates.
(d) As described in Note 12 to the Consolidated Financial Statements, certain leases require us to pay real estate taxes, insurance, maintenance and other
operating expenses associated with the leased premises. These future costs are not included in the schedule above.
(e) Consist of agreements to purchase goods or services that are enforceable and legally binding on the Company and that specify all significant terms,
including fixed or minimum quantities to be purchased; fixed, minimum or variable price provisions; and the approximate timing of the transaction.
(f) Primarily consist of obligations under product service and warranty policies and allowances, performance and operating cost guarantees, estimated
environmental remediation costs, self-insurance and litigation claims, post-retirement benefits, certain pension obligations, deferred tax liabilities
(excluding unrecognized tax benefits) and deferred compensation obligations. The timing of cash flows associated with these obligations are based upon
management’s estimates over the terms of these arrangements and are largely based upon historical experience.
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Source: DANAHER CORP /DE/, 10-K, February 24, 2010 Powered by Morningstar® Document Research℠
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