8-KOther EventsExhibits & Filings

DANAHER CORP /DE/ 8-K Report, Corporate Update (Nov 24, 2015)

Filed November 24, 2015For Securities:DHR

Summary

Danaher Corporation (DHR) has filed an 8-K report to retroactively revise its previously issued financial statements for the years ended December 31, 2014, 2013, and 2012. This revision is to properly reflect the communications business of its Test & Measurement segment as a discontinued operation, following its split-off and subsequent merger with NetScout Systems, Inc. in July 2015. While this accounting adjustment impacts historical reporting, the company states that it had no effect on previously reported net earnings or earnings per common share. Investors should note that the attached exhibits, particularly the recast Management's Discussion and Analysis and financial statements, supersede prior disclosures in the company's 2014 Form 10-K regarding this discontinued segment.

Key Highlights

  • 1Retroactive revision of financial statements for fiscal years 2014, 2013, and 2012.
  • 2The revision correctly classifies the communications business of the Test & Measurement segment as a discontinued operation.
  • 3The discontinued operation resulted from a split-off and subsequent merger with NetScout Systems, Inc. completed in July 2015.
  • 4The company explicitly states that this revision had no impact on historical reported net earnings or earnings per common share.
  • 5Updated financial data and Management's Discussion and Analysis (MD&A) for the relevant periods are provided as exhibits.
  • 6The recast disclosures supersede corresponding sections in the company's 2014 Form 10-K.

Frequently Asked Questions

Danaher is filing this 8-K to retroactively reclassify its former communications business as a 'discontinued operation' in its financial statements for the years ended December 31, 2014, 2013, and 2012. This accounting treatment is required following the completion of the split-off and merger of this business with NetScout Systems, Inc. in July 2015.

No, the company explicitly states that this revision had no effect on Danaher's historical reported net earnings or earnings per common share. The change is purely an accounting reclassification.

The updated financial statements and Management's Discussion and Analysis (MD&A) are provided as Exhibit 99.1 to this 8-K filing. This exhibit supersedes the prior disclosures in Danaher's 2014 Form 10-K regarding the communications business.

The discontinued operations pertain to the majority of Danaher's Test & Measurement segment's communications business. However, the data communications cable installation business and the communication service provider business of Fluke Networks (which remain with Danaher as part of its instruments business) were excluded from this disposition.