Danaher 2010 Annual Report Download

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FORM 10-K
DANAHER CORP /DE/ - DHR
Filed: February 24, 2011 (period: December 31, 2010)
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
    Mornongstar® Document Research℠FORM 10-K DANAHER CORP /DE/ - DHR Filed: February 24, 2011 (period: December 31, 2010) 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, ...

  • Page 2
    ...UNITED STTTES SECURITIES TND EXCHTNGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mars One) x TNNUTL REPORT PURSUTNT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHTNGE TCT OF 1934 For the fisgal year ended Degember 31, 2010 OR TRTNSITION REPORT... DANAHER CORP /DE/, 10-K, February 24, 2011 Powered ...

  • Page 3
    ...-K. Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by Morningstar®... 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.

  • Page 4
    ...Management...ExhibitsoandoFinancialoStatementoSchedules 106 2 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by Morningstar® Document Research... the extent such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future results.

  • Page 5
    ...,"o"intend,"o"plan,"o"will... DanaheroCorporationo("Danaher,"o"Company,"o"we,"o"us...DANAHER CORP /DE/, 10-K, February 24, 2011 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 results.

  • Page 6
    ...2010 For the Years Ended Degember 31 2009 Segment 2008 Testo&oMeasurement Environmental LifeoScienceso&oDiagnostics Dental...DANAHER CORP /DE/, 10-K, February 24, 2011 Powered... or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future results.

  • Page 7
    ...Contents Fluke ...Hennessy Industries ...Source: DANAHER CORP /DE/, 10-K, February 24, 2011 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 results.

  • Page 8
    ...submersibleoturbineopumps;oand 6 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by Morningstar® Document ... 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.

  • Page 9
    ...ROOT,oandoGILBARCOoAUTOTANK.oManufacturingofacilitiesoareolocatedoinoNorthoAmerica,oEurope,oAsia andoSouthoAmerica.oSalesoareogenerallyomadeothroughoindependentodistributorsoandoourodirectosalesopersonnel. LIFE SCIENCES...7 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by Morningstar®...

  • Page 10
    ...acquisitions,oincludingotheoacquisitionsoofoABoSciexoandoMolecularoDevicesoino2010. Leica Microsystems...AB Sciex...DANAHER CORP /DE/, 10-K, February 24, 2011 Powered... such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future results.

  • Page 11
    ... 9 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 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 results.

  • Page 12
    ...PORTESCAP.oManufacturingofacilitiesoareolocatedoinotheoUnitedoStates,oEurope,oLatinoAmerica,oandoAsia.oSalesoareogenerallyomadeothroughoourodirectosales personneloandoindependentodistributors. OtheroBusinesses Sensors & Controls...Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by ...

  • Page 13
    ...Jacobs Vehicle Systems...International Operations andoMajor Customers oinclude informationocommonotooalloofoourosegments. Materials...DANAHER CORP /DE/, 10-K, February 24, 2011 Powered...or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future results.

  • Page 14
    ...2010 For the Years Ended Degember 31 2009 2008 Segment Testo&oMeasurement Environmental LifeoScienceso&oDiagnostics Dental... 7oo 725oo Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by Morningstar® Document ...limited or excluded by applicable law. Past financial performance is no ...

  • Page 15
    ... 13 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by Morningstar® ...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.

  • Page 16
    ...oRiskoFactors." Medical Devices ... Source: DANAHER CORP /DE/, 10-K, February 24, 2011 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 results.

  • Page 17
    ...International...2010 Year Ended Degember 31 2009 2008 Segment Testo&oMeasurement Environmental LifeoScienceso&oDiagnostics Dental...37%o 15 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by Morningstar® Document ...limited or excluded by applicable law. Past financial performance is no ...

  • Page 18
    ...Annual Report...material, but are not the only risks and uncertainties facing us. Our business is also subject to general risks and uncertainties that affect many other companies...DANAHER CORP /DE/, 10-K, February 24, 2011 Powered...limited or excluded by applicable law. Past financial performance is no ...

  • Page 19
    ...; 17 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 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 results.

  • Page 20
    ... to consummate acquisitions at our ...Management... Source: DANAHER CORP /DE/, 10-K, February 24, 2011 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 results.

  • Page 21
    ... of acquisition agreements by which we have acquired companies may not...reputation...Source: DANAHER CORP /DE/, 10-K, February 24, 2011 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 results.

  • Page 22
    ... 20 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 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 results.

  • Page 23
    ...could adversely affect our reputation, financial condition and results...Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by Morningstar..., 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.

  • Page 24
    ...industry...condition. 22 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by Morningstar® Document ... 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.

  • Page 25
    ...defined benefit pension plans are subject to...sources of supply for certain materials and components could cause ...DANAHER CORP /DE/, 10-K, February 24, 2011 Powered... such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future results.

  • Page 26
    ... to changes in the healthcare industry, some of which could adversely...companies...International... DANAHER CORP /DE/, 10-K, February 24, 2011 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 results.

  • Page 27
    ...systems or information technology systems...control the Apex Tool Group joint venture, and as a result we may not be able to direct management of the joint venture...DANAHER CORP /DE/, 10-K, February 24, 2011 Powered... be limited or excluded by applicable law. Past financial performance is no guarantee of...

  • Page 28
    ...oinotheoMD&A. 26 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by Morningstar® Document Research... 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.

  • Page 29
    ...EXECUTIVE ... 1984 1984 1995 1996 2002 2002 H.oLawrenceoCulp,oJr. DanieloL....DANAHER CORP /DE/, 10-K, February 24, 2011 Powered...the extent such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future results.

  • Page 30
    ...2010 High 2009...Company'soLiquidoYieldoOptionoNoteso(LYONs)oconvertedosuchoLYONsointooanoaggregateoofo5,193,146osharesoofoDanaherocommonostock,oparovalueo$0.01 28 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered... limited or excluded by applicable law. Past financial performance is no guarantee ...

  • Page 31
    .... 29 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 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 results.

  • Page 32
    ... FINTNCITL DTTT (in thousands, exgept per share information) 2010 2009 2008 2007 2006 Sales OperatingoProfit Earningsofromocontinuingooperations $13,202,602oo o 2,166,374oo ...DANAHER CORP /DE/, 10-K, February 24, 2011 Powered...limited or excluded by applicable law. Past financial performance is no ...

  • Page 33
    ... Management'...Company...DANAHER CORP /DE/, 10-K, February 24, 2011 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 results.

  • Page 34
    ...Contents Acquisitions; Joint Venture with Cooper Industries plc...: DANAHER CORP /DE/, 10-K, February 24, 2011 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 results.

  • Page 35
    ... 33 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by Morningstar® Document...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.

  • Page 36
    ...acquisition...2010 For the Year Ended Degember 31 2009 2008 Testo&oMeasurement Environmental LifeoScienceso&oDiagnostics Dental...DANAHER CORP /DE/, 10-K, February 24, 2011 Powered... or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future results.

  • Page 37
    ... o 0.1%o Components of Sales Growth (Degline) 2010 vs. 2009 2009 vs. 2008 Existingobusinesses Acquisitions Currencyoexchangeorates Total 2010 COMPTRED TO 2009 o o o o 17...DANAHER CORP /DE/, 10-K, February 24, 2011 Powered...limited or excluded by applicable law. Past financial performance is no guarantee...

  • Page 38
    ... o 0.1%o Components of Sales Growth (Degline) 2010 vs. 2009 2009 vs. 2008 Existingobusinesses Acquisitions Currencyoexchangeorates Total 2010 COMPTRED TO 2009 o o o o 10...DANAHER CORP /DE/, 10-K, February 24, 2011 Powered...limited or excluded by applicable law. Past financial performance is no guarantee...

  • Page 39
    ...2010.... 2009 COMPTRED...Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by...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.

  • Page 40
    ... o 53.7oo o 6.6oo o 13.0%o o 3.6%o o 0.1%o Components of Sales Growth (Degline) 2010 vs. 2009 2009 vs. 2008 Existingobusinesses Acquisitions Currencyoexchangeorates Total 2010 COMPTRED TO 2009 o o o o 9.0%o 46.0%o -oooo 55.0%o o o o o (1.0%)o...DANAHER CORP /DE/, 10-K, February 24, 2011 Powered ...

  • Page 41
    ...2009... 39 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by Morningstar® ...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.

  • Page 42
    ... o 3.9%o o 1.1%o Components of Sales Growth (Degline) 2010 vs. 2009 2009 vs. 2008 Existingobusinesses Acquisitions Currencyoexchangeorates Total 2010 COMPTRED TO 2009 o o o o 4.5%o 6.5%o (1.0%)o 10.0%o o o o o (8.5%)o 3.0%o (2.0%)o (7.5%)o Priceoincreasesothroughoutotheosegmentocontributedo0...

  • Page 43
    ... Components of Sales Growth (Degline) 2010 vs. 2009 2009 vs. 2008 Existingobusinesses Acquisitions Currencyoexchangeorates Total 41 o o o o 13.5%o 0.5%o -oooo 14.0%o o o o o (17.0%)o 0.5%o (3.0%)o (19.5%)o Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by Morningstar® Document...

  • Page 44
    ...2010 COMPTRED TO 2009... 42 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by Morningstar® Document... 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.

  • Page 45
    ... Company'socostobaseoresultingofromohigherosalesovolumesoduringo2010oasocomparedotoo2009oinoadditionotoo65obasisopointsoofoincrementalorestructuringocosts incurredoduringo2009oasocompared 43 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered...

  • Page 46
    ...2010 For the Year Ended Degember 31 2009 2008 PriorotooformationoofoApex Sales... DANAHER CORP /DE/, 10-K, February 24, 2011 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 results.

  • Page 47
    ...Company... 45 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by Morningstar® ...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.

  • Page 48
    ...Company...orespectively. 46 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 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 results.

  • Page 49
    ...Itemo1.oMaterials." 47 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by Morningstar® Document Research... 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.

  • Page 50
    ...Flows and Liquidity ($oinomillions) 2010 For the Years Ended Degember 31 2009 2008 Operatingocashoflows $ 2,084.4oo... DANAHER CORP /DE/, 10-K, February 24, 2011 Powered ... or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future results.

  • Page 51
    ...49 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by Morningstar® ...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.

  • Page 52
    ...2010 Tgquisitions and Tpex Joint Venture ForoaodiscussionoofotheoCompany'so2010oacquisitionsoandotheo2010oformationoofotheoApexojointoventure,opleaseoreferotoo"-Overviewo-oAcquisitions;oJoint VentureowithoCooperoIndustriesoplc." 2009...Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by ...

  • Page 53
    ...oUnderothe Company'... 51 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 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 results.

  • Page 54
    .... 52 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by Morningstar® Document...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.

  • Page 55
    ...Company...sooperations. 53 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by Morningstar® Document... 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.

  • Page 56
    ...management'soestimatesooverotheotermsoofotheseoarrangementsoandoisolargelyobasedouponohistoricaloexperience. 54 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered... or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future results.

  • Page 57
    .... 55 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 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 results.

  • Page 58
    ...oRiskoFactors." 56 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by Morningstar® Document... 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.

  • Page 59
    ...Company'socontrol.oAsoaoresult,osuchofluctuationsocanobeodifficultotoopredict.oIfoactualomarketoconditionsoareolessofavorableothanothoseoprojectedoby management...DANAHER CORP /DE/, 10-K, February 24, 2011 Powered... be limited or excluded by applicable law. Past financial performance is no guarantee of...

  • Page 60
    ...management... 58 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by Morningstar® ...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.

  • Page 61
    ...plans...Company.... 59 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by Morningstar® Document...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.

  • Page 62
    ...." 60 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 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 results.

  • Page 63
    ...DTTT Report of Management on Danaher Corporation's Internal Control Over Finangial Reporting ... 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.

  • Page 64
    ... Report of... Februaryo24,o2011 62 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by Morningstar® Document Research℠... 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.

  • Page 65
    ...Report ...management...,o2011 63 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by Morningstar® Document Research...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.

  • Page 66
    ... 2010 2009 2008 Sales .... 64 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by Morningstar® Document... losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future results.

  • Page 67
    ... in thousands) 2010 2009 TSSETS CurrentoAssets: .... 65 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by Morningstar® Document...such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future results.

  • Page 68
    ... ($ in thousands) 2010 2009 2008 Cashoflowsofromooperatingoactivities: Netoearnings...66 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by Morningstar®...such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future results.

  • Page 69
    ...2009...Non-controllingointerestoacquired Balange, Degember 31, 2010 o 352,608oo $ 3,526oo.... 67 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by Morningstar® Document...be limited or excluded by applicable law. Past financial performance is no guarantee ...

  • Page 70
    ...Company...68 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by Morningstar...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.

  • Page 71
    ... 69 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 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 results.

  • Page 72
    .... 70 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 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 results.

  • Page 73
    .... 71 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by Morningstar® Document...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.

  • Page 74
    ...acquisitions...Measurement,oDental,oEnvironmental,oLifeoScienceso&oDiagnostics,oandoIndustrialoTechnologies 72 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered... damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future results.

  • Page 75
    ...company...2010 2009...(16.1)o o (35.9)o o (8.3)o o -oooo $ 423.2oo Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by Morningstar® Document Research℠The information contained herein may not be copied, ...be limited or excluded by applicable law. Past financial performance is no guarantee of...

  • Page 76
    ...2010 2009.... 74 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by Morningstar® Document... 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.

  • Page 77
    .... 75 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by Morningstar® Document... 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.

  • Page 78
    ...2010 2009 2008 Sales Operatingoprofit (4) $315.6oo o 41.5oo $607.9oo o 63.9oo $ 731.3oo o 68.2oo INVENTORY: TheoclassesoofoinventoryoasoofoDecembero31oareosummarizedoasofollowso($oinomillions): 2010 2009... 76 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by Morningstar® Document...

  • Page 79
    ...($oinomillions): 2010 2009 Landoandoimprovements Buildings...2010 $ 9,241.0oo o 264.5oo o (19.5)o o (275.4)o $ 9,210.6oo o 422.9oo o (21.0)o o 205.4oo $ 9,817.9oo o 1,157.8oo o (173.8)o o 4.9oo o (48.4)o $10,758.4oo 77 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered...

  • Page 80
    ... 2010 2009 Testo&oMeasurement Environmental LifeoScienceso&oDiagnostics Dental ...DANAHER CORP /DE/, 10-K, February 24, 2011 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 results.

  • Page 81
    ...Degember 31, 2010: Assets: Availableoforosaleosecurities Liabilities: Deferredocompensationoplans $ o 257.0oo -oooo o $ -oooo 64.4oo o o -oooo -oooo $ 257.0oo o 64.4oo Degember 31, 2009: Assets: ...79 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by Morningstar...

  • Page 82
    ...($oinomillions): 2010 Current NonCurrent 2009 Current NonCurrent...80 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by Morningstar... 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.

  • Page 83
    ... 81 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 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 results.

  • Page 84
    ...2010...,orespectively. 82 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by Morningstar® Document Research...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.

  • Page 85
    ...: U. S. Plans Non-U.S. Plans Degember 31, 2010 Degember 31, 2009 Degember 31, 2010 Degember 31, 2009 Discountorate Rateoofocompensationoincrease o o 5.20%o 4.00%o o o 5.75%o 4.00%o o o 4.70%o 3.00%o o o 5.10%o 3.10%o 83 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by...

  • Page 86
    ... at date of measurement: U. S. Plans Non-U.S. Plans 2010 2009 2010 2009 Discountorate Expectedolong-termoreturnoonoplanoassets Rateoofocompensationoincrease...management...DANAHER CORP /DE/, 10-K, February 24, 2011 Powered...limited or excluded by applicable law. Past financial performance is no guarantee...

  • Page 87
    .... 85 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 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 results.

  • Page 88
    ...,o2010 Acquisitions Purchases,osales,oissuances,oandosettlementso(net) Balange, Degember 31, 2010 Expegted Contributions...DANAHER CORP /DE/, 10-K, February 24, 2011 Powered... damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future results.

  • Page 89
    ...at date of measurement: 2010 2009 Discountorate Medicalotrendorateo-oinitial Medicalotrendorateo-ogradingoperiod Medicalotrendorateo-oultimate o 5.20%o o 7.90%o o18oyearsoo o 4.5%o 87 o 5.75%o o 8.10%o o19oyearsoo o 4.5%o Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by Morningstar...

  • Page 90
    ... 2010 Post Retirement Medigal Benefits 2009 .... 88 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by Morningstar® Document... 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.

  • Page 91
    ...31, 2009 Accrualsoforowarrantiesoissuedoduringoperiod Settlementsomade Additionsodueotooacquisitions AmountotransferredotooApexojointoventure Effectoofoforeignocurrencyotranslation Balange Degember 31, 2010 $ ... 89 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by Morningstar® ...

  • Page 92
    ... Company'... Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by Morningstar... 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.

  • Page 93
    ...2010 2009....7oo FederaloU.S. Nono-oU.S. StateoandoLocal Incomeotaxoprovision Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by Morningstar® Document Research℠The information contained herein... be limited or excluded by applicable law. Past financial performance is no guarantee of ...

  • Page 94
    ...: 2010 Pergentage of Pre-Tax Earnings 2009 2008...: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by... 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.

  • Page 95
    ...2010 2009 2008 Unregognized tax benefits, beginning of year Additionsobasedoonotaxopositionsorelatedotootheocurrentoyear Additionsoforotaxopositionsoofoprioroyears Reductionsoforotaxopositionoofoprioroyears Acquisitions...93 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by Morningstar®...

  • Page 96
    ...2010...Ended Degember 31, 2009: $ 1,793....6.0oo 24.0oo $ 1.80oo 671.5 $ 1.73 94 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by Morningstar® Document Research℠The information contained herein may not be ... limited or excluded by applicable law. Past financial performance is no guarantee...

  • Page 97
    ...Company... ofoDirectorso("Compensation 95 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by ...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.

  • Page 98
    ...Company...: 2010 Year Ended Degember 31, 2009 2008...Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by ... 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.

  • Page 99
    ...2010 Year Ended Degember 31, 2009 2008 Restrigted Stogs Units...Share-Based Compensation: Pre-...DANAHER CORP /DE/, 10-K, February 24, 2011 Powered... extent such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future results.

  • Page 100
    ...$49omillion,o$53omillion,oando$20omillionoin 2010,o2009oando2008,orespectivelyorelatedotootheoexerciseoofoemployeeostockooptions,owhichohasobeenorecordedoasoanoincreaseotooadditionalopaid-inocapital. 98 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by Morningstar® Document Research...

  • Page 101
    ...Unvested at Degember 31, 2008 Forfeited Vested Granted Unvested at Degember 31, 2009 Forfeited Vested Granted Unvested at Degember 31, 2010 o o o o o o o o o o o o ...DANAHER CORP /DE/, 10-K, February 24, 2011 Powered... be limited or excluded by applicable law. Past financial performance is no guarantee of...

  • Page 102
    ...2009 2008 Testo&oMeasurement Environmental LifeoScienceso&oDiagnostics Dental...6oo Degember 31, 2009 Degember 31, 2010 Restrugturing Charges Employeeoseveranceoandorelated ...DANAHER CORP /DE/, 10-K, February 24, 2011 Powered...limited or excluded by applicable law. Past financial performance is no ...

  • Page 103
    ...2010 2009 2008 TotaloSales: Testo&oMeasurement Environmental LifeoScienceso&oDiagnostics Dental... LifeoScienceso&oDiagnostics Dental IndustrialoTechnologies BusinessesocontributedotooApexojointoventure Other 101 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by Morningstar®...

  • Page 104
    ...Dental...2010 2009 2008 TotaloSales: UnitedoStates Germany China UnitedoKingdom Alloother Long-livedoassets: UnitedoStates Germany...,303.0oo Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by Morningstar® Document ...limited or excluded by applicable law. Past financial performance is no ...

  • Page 105
    ...Sales by Major Produgt Group: Year Ended Degember 31 ($oinomillions) 2010 2009... Basic Diluted 0.46oo 0.45oo Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by Morningstar® Document Research℠The information ...limited or excluded by applicable law. Past financial performance is no ...

  • Page 106
    Table of Contents 2009 1stoQuarter 2ndoQuarter 3rdoQuarter 4thoQuarter Netosales Grossoprofit... Diluted 0.37oo 0.36oo Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by Morningstar® Document Research℠The...limited or excluded by applicable law. Past financial performance is no ...

  • Page 107
    ...105 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by Morningstar® ...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.

  • Page 108
    ...,oatowww.danaher.com, withinofourobusinessodaysofollowingotheodateoofosuchoamendmentoorowaiver. ITEM 11. EXECUTIVE COMPENSTTION TheoinformationorequiredobyothisoItemoisoincorporatedobyoreferenceofromotheosectionsoentitled Executive Compensation and Director Compensation oinothe...

  • Page 109
    ...Exhibit Number Description o 115oo... Plan,oasoamended...) 107 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by Morningstar® Document... 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.

  • Page 110
    ...Plan....oLawrenceoCulp,oJr.* 108 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by Morningstar® Document Research℠The...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.

  • Page 111
    ...-management ...6,o2006 109 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by Morningstar® Document...to the extent such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future results.

  • Page 112
    .... 110 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 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 results.

  • Page 113
    ... ** *** 111 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by Morningstar® Document Research℠...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.

  • Page 114
    .... 112 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 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 results.

  • Page 115
    ...oSchwieters Director Februaryo23,o2011 113 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by Morningstar® Document Research℠The information...extent such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future results.

  • Page 116
    ... Februaryo23,o2011 114 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by Morningstar® Document Research℠...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.

  • Page 117
    ...,onetoofoamountsorelatedotoobusinessesodisposed. 115 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by Morningstar® Document Research... damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future results.

  • Page 118
    ... in all material respects to the form of agreement referenced as Exhibit 10.17 except as to the name of the executive, date of execution and governing law: Daniel L. Comas William K. Daniel II James A. Lico Thomas P. Joyce, Jr. 116 Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by...

  • Page 119
    Exhibit 10.19 Danaher Corporation Description of Non-Management Director Compensation Arrangements Following is a description of the compensation arrangements for each of the Company's non-management directors. For 2011, our non-management directors receive: an annual cash retainer of $40,000,...

  • Page 120
    Exhibit 12.1 DANAHER CORPORATION AND SUBSIDIARIES STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES ($ IN THOUSANDS, EXCEPT RATIO DATA) 2006 2007 2008 2009 2010 Fixed Charges: Gross Interest Expense Interest Element of Rental Expense Interest on FIN 48 liabilities Total Fixed ...

  • Page 121
    ...LLC Danaher Motion UK Company Danaher Setra-ICG (Tianjin) Co. Ltd. Danaher UK Industries Limited DANRAD ApS DATAPAQ Limited Dental Equipment LLC DEXIS LLC DH Business Services, LLC DH Cooperative, Inc. DH Holdings Corp. DH Technologies Development Pte Ltd. DHR Finland Oy DHR Technologies Ireland Ltd...

  • Page 122
    ... Deutschland GmbH Fluke Electronics Canada LP Fluke Electronics Corporation (DE) Fluke Europe B.V. Fluke Finance Company EHF Fluke Holding B.V. Fluke Nederland B.V. Fluke Precision Measurements LTD Fluke Shanghai Corporation Gems Sensors Inc. Gendex Corp. Gendex Dental Systems s.r.l. Genetix Group...

  • Page 123
    ...NORMA GmbH Linear Motion LLC Linx Printing Technologies Limited LLP Holdings PTY LTD Lodestone Acquisition Corp. McCrometer, Inc. Metrex Research, LLC Mixed Signals, Inc. Molecular Devices, Inc. Hong Kong Delaware California Japan Germany Germany Germany Germany Japan Illinois Brazil Denmark China...

  • Page 124
    ... Company Pacific Scientific Energetic Materials Company (Arizona) LLC Pacific Scientific Energetic Materials Company (California) LLC Pacific Scientific GmbH PacSci Motion Control, Inc. PaloDEx Group OY PaloDEx Holding OY Pentron Corporation Portescap India Private Limited Portescap International...

  • Page 125
    ... Technologies S.A.S. Viqua Willett Holdings B.V. Willett Limited (Thailand) Wolke Inks & Printers GmbH Zhuhai S.E.Z. Videojet Electronics Ltd. Zipher Limited Canada Georgia Delaware Germany China Delaware Germany Victoria Brazil Chile Brazil China Italy China Netherlands Germany Delaware United...

  • Page 126
    ... of internal control over financial reporting of Danaher Corporation and subsidiaries, included in this Annual Report (Form 10-K) of Danaher Corporation and subsidiaries for the year ended December 31, 2010. Registration Statements on Form S-3 Registration Number Date Filed 333-159060 May 8, 2009...

  • Page 127
    ...material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. Date: February 23, 2011 /s/ H. Lawrence Culp, Jr. By: Name: H. Lawrence Culp, Jr. Title: President and Chief Executive Officer 125 Source: DANAHER CORP...

  • Page 128
    ... material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. Date: February 23, 2011 /s/ Daniel L. Comas By: Name: Daniel L. Comas Title: Executive Vice President and Chief Financial Officer 126 Source: DANAHER...

  • Page 129
    ...of operations of Danaher Corporation. Date: February 23, 2011 /s/ H. Lawrence Culp, Jr. By: Name: H. Lawrence Culp, Jr. Title: President and Chief Executive Officer This certification accompanies the Annual Report on Form 10-K pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and shall not...

  • Page 130
    ... of operations of Danaher Corporation. Date: February 23, 2011 /s/ Daniel L. Comas By: Name: Daniel L. Comas Title: Executive Vice President and Chief Financial Officer This certification accompanies the Annual Report on Form 10-K pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and shall...

  • Page 131
    Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by Morningstar® Document Research℠The information contained herein may not be ... 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.