Danaher 2011 Annual Report Download - page 17

Table of Contents
• The False Claims Act imposes liability on any person or entity that, among other things, knowingly presents, or causes to be presented, a false or
fraudulent claim for payment by a federal health care program. The qui tam provisions of the False Claims Act allow a private individual to bring
actions on behalf of the federal government alleging that the defendant has submitted a false claim to the federal government, and to share in any
monetary recovery.
In addition, certain of our products utilize radioactive material, and we are subject to federal, state and local regulations governing the management, storage,
handling and disposal of these materials. For a discussion of risks related to our regulation by the FDA and comparable agencies of other countries, and the
other regulatory regimes referenced above, please refer to “Item 1A. Risk Factors.”
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We are required to comply with various U.S. export/import control and economic sanctions laws, including:
• the International Traffic in Arms Regulations administered by the U.S. Department of State, Directorate of Defense Trade Controls, which, among
other things, imposes license requirements on the export from the United States of defense articles and defense services (which are items
specifically designed or adapted for a military application and/or listed on the United States Munitions List);
• the Export Administration Regulations administered by the U.S. Department of Commerce, Bureau of Industry and Security, which, among other
things, impose licensing requirements on the export or re-export of certain dual-use goods, technology and software (which are items that
potentially have both commercial and military applications);
• the regulations administered by the U.S. Department of Treasury, Office of Foreign Assets Control, which implement economic sanctions
imposed against designated countries, governments and persons based on United States foreign policy and national security considerations; and
• the import regulatory activities of the U.S. Customs and Border Protection.
Other nations’ governments have implemented similar export and import control regulations, which may affect our operations or transactions subject to their
jurisdictions. For a discussion of risks related to export/import control and economic sanctions laws, please refer to “Item 1A. Risk Factors.”
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Our products and services are available worldwide, and our principal markets outside the United States are in Europe and Asia. We also have operations
around the world, and this geographic diversity allows us to draw on the skills of a worldwide workforce, provides stability to our operations, allows us to
drive economies of scale, provides revenue streams that may help offset economic trends that are specific to individual economies and offers us an opportunity
to access new markets for products. In addition, we believe that our future growth depends in part on our ability to develop products and sales models that
successfully target developing countries. The table below describes annual revenue derived from customers outside the U.S. as a percentage of total annual
revenue for each of the last three years, by segment and in the aggregate:
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   
Test & Measurement 52% 49% 50%
Environmental 57% 53% 51%
Life Sciences & Diagnostics 66% 70% 73%
Dental 56% 58% 57%
Industrial Technologies 57% 55% 53%
Businesses contributed to the Apex joint venture — 22% 20%
Total percentage of revenue derived from customers outside of the United States 58% 55% 53%
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Source: DANAHER CORP /DE/, 10-K, February 24, 2012 Powered by Morningstar® Document Research℠
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