Summary
This 8-K filing by DANAHER CORP /DE/ (DHR) on June 19, 2017, primarily serves to attach revised consolidated financial statements. The key revision is an explicit acknowledgment that the Company has unconditionally guaranteed long-term debt and commercial paper issued by its wholly-owned finance subsidiaries, DH Europe Finance S.A. and DH Switzerland Finance S.A. These guarantees are on parity with Danaher's other unsecured and unsubordinated indebtedness. While the financial statements themselves are otherwise unchanged from previously filed reports (the 2016 10-K and the Q1 2017 10-Q), this explicit clarification provides investors with a clearer understanding of the full extent of Danaher's financial obligations and its support for its subsidiaries' debt instruments.
Key Highlights
- 1Danaher Corporation has revised its consolidated financial statements to explicitly confirm its unconditional guarantee of debt issued by subsidiaries DH Europe Finance S.A. and DH Switzerland Finance S.A.
- 2These guarantees apply to both long-term debt and commercial paper issued by the named subsidiaries.
- 3The guarantees are stated to be on parity with Danaher's existing unsecured and unsubordinated indebtedness.
- 4The filing includes audited consolidated financial statements for the years ended December 31, 2016 and 2015, and unaudited statements for the three-month periods ended March 31, 2017, and April 1, 2016.
- 5These financial statements are otherwise unchanged from those previously reported in the Company's 2016 10-K and Q1 2017 10-Q filings.
- 6The filing also includes XBRL formatted financial data for enhanced data analysis.