Summary
Danaher Corporation (DHR) has announced a change in its reportable business segments, effective for its fourth quarter of 2022 results. Previously operating under three segments (Life Sciences, Diagnostics, and Environmental & Applied Solutions), the company is now realigning its structure into four segments: Biotechnology, Life Sciences, Diagnostics, and Environmental & Applied Solutions. This change is driven by the growth within certain businesses previously housed in the Life Sciences segment, leading to the creation of a distinct Biotechnology segment. The recast historical financial data reflecting this new structure is available on Danaher's investor relations website, and the upcoming Form 10-K for the year ended December 31, 2022, will also incorporate these changes. This segment realignment is a retrospective change and does not alter previously filed financial statements like Consolidated Statements of Earnings, Balance Sheets, or Cash Flows. The primary impact for investors is a clearer view of the performance and contributions of the newly defined Biotechnology segment, which encompasses bioprocessing and discovery and medical businesses, alongside the redefined Life Sciences segment, which will now include flow cytometry, genomics, lab automation, mass spectrometry, microscopy, industrial filtration, and genomic consumables. The Diagnostics and Environmental & Applied Solutions segments remain unchanged.
Key Highlights
- 1Danaher is restructuring its reportable business segments from three to four.
- 2The former 'Life Sciences' segment is being split into two new segments: 'Biotechnology' and 'Life Sciences'.
- 3The new 'Biotechnology' segment includes bioprocessing and discovery & medical businesses.
- 4The redefined 'Life Sciences' segment will now encompass flow cytometry, genomics, lab automation, mass spectrometry, microscopy, industrial filtration, and genomic consumables.
- 5Historical financial data has been recast to reflect the new segment structure and is available on the company's investor relations website.
- 6The upcoming 2022 Form 10-K will also reflect these segment changes.
- 7This change is for reporting purposes and does not restate previously filed financial statements.