Danaher 2011 Annual Report Download - page 107

Table of Contents
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The Company operates and reports its results in five separate business segments consisting of the Test & Measurement; Environmental; Life Sciences &
Diagnostics; Dental; and Industrial Technologies segments. In addition, the historical results of the hand tools related business and the Company’s equity in
earnings of the Apex joint venture is shown separately in the Company’s segment disclosures.
Operating profit represents total revenues less operating expenses, excluding other expense, interest and income taxes. The identifiable assets by segment are
those used in each segment’s operations. Inter-segment amounts are not significant and are eliminated to arrive at consolidated totals. During 2011, the
Company commenced reporting geographic external sales attributable to individual countries based on the location of the customer. In prior annual filings, the
Company reported external geographic sales attributable to individual countries based on the location where the product was manufactured. Prior period
amounts have been reclassified to conform to the current reporting format.
Detailed segment data for the years ended December 31, 2011, 2010 and 2009 is presented in the following table ($ in millions):
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Total Sales:
Test & Measurement $ 3,390.9 $2,832.9 $ 2,221.3
Environmental 2,939.6 2,738.0 2,418.7
Life Sciences & Diagnostics 4,627.4 2,298.3 1,484.9
Dental 2,011.2 1,824.6 1,657.0
Industrial Technologies 3,121.4 2,540.6 2,126.9
Businesses contributed to Apex joint venture attributable to periods prior
to contribution — 315.6 607.9
$16,090.5 $12,550.0 $10,516.7
Operating Profit:
Test & Measurement $751.2 $572.9 $301.4
Environmental 622.7 564.3 471.0
Life Sciences & Diagnostics 402.3 227.9 179.6
Dental 236.1 203.3 215.9
Industrial Technologies 655.0 513.3 297.5
Businesses contributed to Apex joint venture:
Attributable to periods prior to contribution — 41.5 63.9
Equity method earnings subsequent to JV formation 66.8 22.8 —
Other (116.9) (96.4) (89.6)
$2,617.2 $2,049.6 $ 1,439.7
Identifiable Assets (Including Assets Held for Sale):
Test & Measurement $5,280.6 $5,322.9 $4,577.7
Environmental 2,784.8 2,634.9 2,591.3
Life Sciences & Diagnostics 12,888.4 4,071.7 2,609.5
Dental 4,047.5 4,120.2 3,947.8
Industrial Technologies 3,394.9 2,876.8 2,796.0
Businesses contributed to Apex joint venture — — 399.0
Other 1,553.2 3,190.6 2,674.1
$29,949.4 $22,217.1 $19,595.4
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Source: DANAHER CORP /DE/, 10-K, February 24, 2012 Powered by Morningstar® Document Research℠
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