8-KEarnings & ResultsRegulation FDExhibits & Filings

DANAHER CORP /DE/ 8-K Report, Financial Results (Jul 25, 2016)

Filed July 25, 2016For Securities:DHR

Summary

Danaher Corporation (DHR) filed an 8-K on July 25, 2016, primarily to report its financial results for the second quarter and first half of 2016. A significant event preceding this filing was the distribution of Fortive Corporation to Danaher shareholders on July 2, 2016. To aid investors in understanding Danaher's performance post-spin-off, the company provided unaudited financial data, including pro forma and non-GAAP adjusted figures, that exclude Fortive's results. This allows for a clearer view of Danaher's core ongoing business. In conjunction with the Fortive separation, Danaher also announced a revised reporting segment structure. The former Life Sciences & Diagnostics segment has been split into standalone Life Sciences and Diagnostics segments. Additionally, retained businesses from the former Environmental and Industrial Technologies segments (water quality and product identification) are now consolidated into a new Environmental & Applied Solutions segment. The Dental segment remains as is. These changes will be reflected in the upcoming Form 10-Q filing.

Key Highlights

  • 1Danaher announced its financial results for the three and six-month periods ended July 1, 2016.
  • 2The company provided unaudited pro forma and non-GAAP adjusted financial data excluding the results of Fortive Corporation, which was distributed to shareholders on July 2, 2016.
  • 3This pro forma data is intended to help investors assess Danaher's historical performance on a standalone basis.
  • 4Danaher has revised its reporting segment structure following the Fortive distribution.
  • 5The former Life Sciences & Diagnostics segment is now divided into Life Sciences and Diagnostics segments.
  • 6A new segment, Environmental & Applied Solutions, has been created for retained water quality and product identification businesses.
  • 7The revised segment structure will be first reflected in the third quarter 2016 Form 10-Q filing.

Frequently Asked Questions

The main purpose of this 8-K filing is to report Danaher Corporation's financial results for the second quarter and first half of 2016, and to provide updated financial information that excludes the recently spun-off Fortive Corporation.

Danaher provided financial data excluding Fortive to offer investors a clearer view of the company's ongoing business performance after the separation. This allows for better analysis of Danaher's core operations without the impact of the divested entity.

Following the Fortive distribution, Danaher has restructured its reporting segments. The former Life Sciences & Diagnostics segment has been split into Life Sciences and Diagnostics. Also, a new segment called Environmental & Applied Solutions has been formed to house the retained water quality and product identification businesses. The Dental segment remains unchanged.

The new segment structure will be officially reflected in Danaher's third quarter 2016 Quarterly Report on Form 10-Q. Prior to that, on July 25, 2016, the company made unaudited financial data reflecting the new structure available on its investor relations website.