Danaher 2011 Annual Report Download - page 101

Table of Contents
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






Basic EPS $1,718.2 653.2 $ 2.63
Adjustment for interest on convertible debentures 10.6 —
Incremental shares from assumed exercise of dilutive options and vesting of
dilutive RSUs — 9.0
Incremental shares from assumed conversion of the convertible debentures — 21.1
Diluted EPS $1,728.8 683.3 $ 2.53
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





Basic EPS $1,087.0 641.5 $1.69
Adjustment for interest on convertible debentures 10.3 —
Incremental shares from assumed exercise of dilutive options and vesting of
dilutive RSUs — 6.0
Incremental shares from assumed conversion of the convertible debentures — 24.0
Diluted EPS $ 1,097.3 671.5 $ 1.63
 
On May 11, 2010, the Company’s Board of Directors (the “Board”) approved a two-for-one stock split (effected in the form of a dividend by issuing one
additional share of common stock for each issued share of common stock), which was paid on June 10, 2010 to stockholders of record at the close of
business on May 25, 2010. All prior period share and per share amounts set forth in this report, including earnings per share and the weighted average
number of shares outstanding for basic and diluted earnings per share for each respective period, have been adjusted to reflect the stock split.
On May 11, 2010, the Company’s Board authorized the repurchase of up to 20 million shares of the Company’s common stock from time to time on the open
market or in privately negotiated transactions. There is no expiration date for the Company’s repurchase program. The timing and amount of any shares
repurchased will be determined by the Company’s management based on its evaluation of market conditions and other factors. The repurchase program may
be suspended or discontinued at any time. Any repurchased shares will be available for use in connection with the Company’s equity compensation plans (or
any successor plan) and for other corporate purposes. Neither the Company nor any “affiliated purchaser” repurchased any shares of Company common
stock during 2011, 2010 or 2009. The Company expects to fund any repurchases using the Company’s available cash balances or proceeds from the issuance
of commercial paper. At December 31, 2011, the Company had 20 million shares remaining for stock repurchases under the existing Board authorization.
Stock options and RSUs have been issued to directors, officers and other employees under the Company’s 1998 Stock Option Plan and the 2007 Stock
Incentive Plan. In addition, in connection with the November 2007 Tektronix acquisition, the Company assumed the Tektronix 2005 Stock Incentive Plan and
the Tektronix 2002 Stock Incentive Plan (the “Tektronix Plans”) and assumed certain outstanding stock options, restricted stock and RSUs that had been
awarded to Tektronix employees under the plans. These plans operate in a similar manner to the Company’s 2007 Stock Incentive Plan and 1998 Stock
Option Plan. No further equity awards will be issued under the 1998 Stock Option Plan or the Tektronix Plans. The 2007 Stock Incentive Plan provides for
the grant of stock options, stock appreciation rights, RSUs, restricted stock or any other stock based award. In May 2011, the Company’s shareholders
approved amendments to the 2007 Stock Incentive Plan that, among other items, authorized the issuance of an additional 7 million shares pursuant to the plan
bringing the total number of shares authorized for issuance under the plan to 45 million. No more than 14 million of the 45 million authorized shares may be
granted in any form other than stock options or stock appreciation rights.
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Source: DANAHER CORP /DE/, 10-K, February 24, 2012 Powered by Morningstar® Document Research℠
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