Danaher (DHR) 10-Q22 Jul 242024 Q2 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	6 Months Ended
Cover Page - shares	Jun. 28, 2024	Jul. 18, 2024
Entity Information [Line Items]
Document type	10-Q
Document quarterly report	true
Document period end date	Jun. 28, 2024
Document transition report	false
Entity file number	001-08089
Entity registrant name	DANAHER CORPORATION
Entity incorporation, state code	DE
Entity tax identification number	59-1995548
Entity address, address line one	2200 Pennsylvania Avenue, N.W., Suite 800W
Entity address, postal zip code	20037-1701
Entity address, city	Washington,
Entity address, state	DC
City area code	202
Local phone number	828-0850
Entity current reporting status	Yes
Entity interactive data current	Yes
Entity filer category	Large Accelerated Filer
Entity small business	false
Entity emerging growth company	false
Entity shell company	false
Entity common stock, shares outstanding		722,213,081
Amendment flag	false
Document fiscal year focus	2024
Document fiscal period focus	Q2
Current fiscal year end date	--12-31
Entity central index key	0000313616
Common stock
Entity Information [Line Items]
Title of 12(b) security	Common stock, $0.01 par value
Trading symbol	DHR
Security exchange name	NYSE
0.200% Senior Notes due 2026
Entity Information [Line Items]
Title of 12(b) security	0.200% Senior Notes due 2026
Trading symbol	DHR/26
Security exchange name	NYSE
2.100% Senior Notes due 2026
Entity Information [Line Items]
Title of 12(b) security	2.100% Senior Notes due 2026
Trading symbol	DHR 26
Security exchange name	NYSE
1.200% Senior Notes due 2027
Entity Information [Line Items]
Title of 12(b) security	1.200% Senior Notes due 2027
Trading symbol	DHR/27
Security exchange name	NYSE
0.450% Senior Notes due 2028
Entity Information [Line Items]
Title of 12(b) security	0.450% Senior Notes due 2028
Trading symbol	DHR/28
Security exchange name	NYSE
2.500% Senior Notes due 2030
Entity Information [Line Items]
Title of 12(b) security	2.500% Senior Notes due 2030
Trading symbol	DHR 30
Security exchange name	NYSE
0.750% Senior Notes due 2031
Entity Information [Line Items]
Title of 12(b) security	0.750% Senior Notes due 2031
Trading symbol	DHR/31
Security exchange name	NYSE
1.350% Senior Notes due 2039
Entity Information [Line Items]
Title of 12(b) security	1.350% Senior Notes due 2039
Trading symbol	DHR/39
Security exchange name	NYSE
1.800% Senior Notes due 2049
Entity Information [Line Items]
Title of 12(b) security	1.800% Senior Notes due 2049
Trading symbol	DHR/49
Security exchange name	NYSE

Consolidated Condensed Balance

Consolidated Condensed Balance Sheets - USD ($) $ in Millions	Jun. 28, 2024	Dec. 31, 2023
Current assets:
Cash and equivalents	$ 2,374	$ 5,864
Trade accounts receivable, less allowance for doubtful accounts of $132 and $120, respectively	3,298	3,922
Inventories:
Finished goods	1,352	1,282
Work in process	491	459
Raw materials	828	853
Total inventories	2,671	2,594
Prepaid expenses and other current assets	1,266	1,557
Total current assets	9,609	13,937
Property, plant and equipment, net of accumulated depreciation of $4,050 and $3,826, respectively	4,643	4,553
Other long-term assets	3,953	3,644
Goodwill	40,805	41,608
Other intangible assets, net	19,545	20,746
Total assets	78,555	84,488
Current liabilities:
Notes payable and current portion of long-term debt	701	1,695
Trade accounts payable	1,645	1,766
Accrued expenses and other liabilities	4,355	4,813
Total current liabilities	6,701	8,274
Other long-term liabilities	5,643	6,017
Long-term debt	16,309	16,707
Stockholders’ equity:
Common stock	9	9
Additional paid-in capital	9,806	14,151
Retained earnings	42,673	41,074
Accumulated other comprehensive income (loss)	(2,591)	(1,748)
Total Danaher stockholders’ equity	49,897	53,486
Noncontrolling interests	5	4
Total stockholders’ equity	49,902	53,490
Total liabilities and stockholders’ equity	$ 78,555	$ 84,488

Consolidated Condensed Balanc_2

Consolidated Condensed Balance Sheets (Parenthetical) - USD ($) shares in Millions, $ in Millions	Jun. 28, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 132	$ 120
Property, plant and equipment, accumulated depreciation	$ 4,050	$ 3,826
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	2,000	2,000
Common stock, shares issued (in shares)	883.2	880.5
Common stock, shares outstanding (in shares)	724	739.2

Consolidated Condensed Statemen

Consolidated Condensed Statements of Earnings - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 28, 2024	Jun. 30, 2023	Jun. 28, 2024		Jun. 30, 2023
Income Statement [Abstract]
Sales	$ 5,743	$ 5,912	$ 11,539		$ 11,861
Cost of sales	(2,315)	(2,594)	(4,624)		(4,881)
Gross profit	3,428	3,318	6,915		6,980
Operating costs:
Selling, general and administrative expenses	(1,869)	(1,794)	(3,676)		(3,566)
Research and development expenses	(391)	(361)	(759)		(734)
Operating profit	1,168	1,163	2,480		2,680
Nonoperating income (expense):
Other income (expense), net	(59)	(15)	(95)		9
Interest expense	(65)	(65)	(130)		(131)
Interest income	39	59	99		107
Earnings before income taxes	1,083	1,142	2,354		2,665
Income taxes	(176)	(222)	(359)		(505)
Net earnings from continuing operations	907	920	1,995		2,160
Earnings from discontinued operations, net of income taxes	0	186	0		396
Net earnings	907	1,106	1,995		2,556
Mandatory convertible preferred stock dividends	0	0	0		(21)
Net earnings attributable to common stockholders	$ 907	$ 1,106	$ 1,995		$ 2,535
Net earnings per common share
Net earnings per common share from continuing operations, basic (in usd per share)	$ 1.23	$ 1.25	$ 2.70		$ 2.92
Net earnings per common share from continuing operations, diluted (in usd per share)	1.22	1.24	2.68	[1]	2.89
Net earnings per common share from discontinued operations, basic (in usd per share)	0	0.25	0		0.54
Net earnings per common share from discontinued operations, diluted (in usd per share)	0	0.25	0		0.53
Net earnings per common share, basic (in usd per share)	1.23	1.50	2.70		3.46
Net earnings per common share, diluted (in usd per share)	$ 1.22	$ 1.49	$ 2.68	[1]	$ 3.42	[1]
Average common stock and common equivalent shares outstanding:
Basic (in shares)	737.6	737.3	739.1		733.4
Diluted (in shares)	742.4	744.7	745.5		740.2

[1] (a) Net earnings per common share amounts for the relevant three-month periods do not add to the six-month period amount due to rounding.

Consolidated Condensed Statem_2

Consolidated Condensed Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 28, 2024	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Net earnings	$ 907	$ 1,106	$ 1,995	$ 2,556
Other comprehensive income (loss), net of income taxes:
Foreign currency translation adjustments	121	(704)	(827)	(679)
Pension and postretirement plan benefit adjustments	2	0	4	0
Cash flow hedge adjustments	30	(106)	(20)	(25)
Total other comprehensive income (loss), net of income taxes	153	(810)	(843)	(704)
Comprehensive income	$ 1,060	$ 296	$ 1,152	$ 1,852

Consolidated Condensed Statem_3

Consolidated Condensed Statements of Stockholders' Equity - USD ($) $ in Millions	Total	Preferred stock	Common stock	Additional paid-in capital	Additional paid-in capital Preferred stock	Retained earnings	Accumulated other comprehensive income (loss)	Noncontrolling interests
Balance, beginning of period at Dec. 31, 2022		$ 1,668	$ 9	$ 12,072		$ 39,205	$ (2,872)	$ 8
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Conversion of Mandatory Convertible Preferred Stock to Common Stock and Common stock issued in connection with Mandatory Convertible Preferred Stock conversions		(1,668)			$ 1,668
Common stock-based award				199
Repurchase of common stock, including excise taxes				0
Acquisition of controlling interests				0
Net earnings	$ 2,556					2,556
Common stock dividends declared						(396)
Mandatory Convertible Preferred Stock dividends declared						(21)
Other comprehensive income (loss)	(704)						(704)
Change in noncontrolling interests								0
Balance, end of period at Jun. 30, 2023	51,724	0	9	13,939		41,344	(3,576)	8
Balance, beginning of period at Mar. 31, 2023		1,668	9	12,130		40,437	(2,766)	8
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Conversion of Mandatory Convertible Preferred Stock to Common Stock and Common stock issued in connection with Mandatory Convertible Preferred Stock conversions		(1,668)			1,668
Common stock-based award				141
Repurchase of common stock, including excise taxes				0
Acquisition of controlling interests				0
Net earnings	1,106					1,106
Common stock dividends declared						(199)
Mandatory Convertible Preferred Stock dividends declared						0
Other comprehensive income (loss)	(810)						(810)
Change in noncontrolling interests								0
Balance, end of period at Jun. 30, 2023	51,724	0	9	13,939		41,344	(3,576)	8
Balance, beginning of period at Dec. 31, 2023	53,490	0	9	14,151		41,074	(1,748)	4
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Conversion of Mandatory Convertible Preferred Stock to Common Stock and Common stock issued in connection with Mandatory Convertible Preferred Stock conversions		0			0
Common stock-based award				228
Repurchase of common stock, including excise taxes				(4,576)
Acquisition of controlling interests				3
Net earnings	1,995					1,995
Common stock dividends declared						(396)
Mandatory Convertible Preferred Stock dividends declared						0
Other comprehensive income (loss)	(843)						(843)
Change in noncontrolling interests								1
Balance, end of period at Jun. 28, 2024	49,902	0	9	9,806		42,673	(2,591)	5
Balance, beginning of period at Mar. 29, 2024		0	9	14,215		41,962	(2,744)	5
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Conversion of Mandatory Convertible Preferred Stock to Common Stock and Common stock issued in connection with Mandatory Convertible Preferred Stock conversions		0			$ 0
Common stock-based award				164
Repurchase of common stock, including excise taxes				(4,576)
Acquisition of controlling interests				3
Net earnings	907					907
Common stock dividends declared						(196)
Mandatory Convertible Preferred Stock dividends declared						0
Other comprehensive income (loss)	153						153
Change in noncontrolling interests								0
Balance, end of period at Jun. 28, 2024	$ 49,902	$ 0	$ 9	$ 9,806		$ 42,673	$ (2,591)	$ 5

Consolidated Condensed Statem_4

Consolidated Condensed Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 28, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net earnings	$ 1,995	$ 2,556
Less: earnings from discontinued operations, net of income taxes	0	(396)
Net earnings from continuing operations	1,995	2,160
Noncash items:
Depreciation	357	331
Amortization of intangible assets	809	744
Amortization of acquisition-related inventory fair value step-up	25	0
Stock-based compensation expense	147	166
Investment (gains) losses	96	(5)
Change in trade accounts receivable, net	590	749
Change in inventories	(152)	(144)
Change in trade accounts payable	(104)	(310)
Change in prepaid expenses and other assets	215	388
Change in accrued expenses and other liabilities	(822)	(627)
Total operating cash provided by continuing operations	3,156	3,452
Total operating cash provided by discontinued operations	0	421
Net cash provided by operating activities	3,156	3,873
Cash flows from investing activities:
Cash paid for acquisitions	(12)	0
Payments for additions to property, plant and equipment	(578)	(595)
Proceeds from sales of property, plant and equipment	1	2
Payments for purchases of investments	(127)	(144)
Proceeds from sales of investments	9	4
All other investing activities	26	17
Total cash used in investing activities	(681)	(716)
Total investing cash used in discontinued operations	0	(19)
Total cash used in investing activities	(681)	(735)
Cash flows from financing activities:
Proceeds from (payments for) the issuance of common stock in connection with stock-based compensation, net	76	(4)
Payment of dividends	(377)	(422)
Net proceeds from (repayments of) borrowings (maturities of 90 days or less)	15	(7)
Net repayments of borrowings (maturities longer than 90 days)	(974)	0
Payments for repurchase of common stock	(4,530)	0
All other financing activities	(58)	(37)
Total cash used in financing activities	(5,848)	(470)
Effect of exchange rate changes on cash and equivalents	(117)	(88)
Net change in cash and equivalents	(3,490)	2,580
Beginning balance of cash and equivalents	5,864	5,995
Ending balance of cash and equivalents	2,374	8,575
Supplemental disclosures:
Cash interest payments	176	185
Cash income tax payments	$ 618	$ 694

General

General	6 Months Ended
General	Jun. 28, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
General	GENERAL The Consolidated Condensed Financial Statements included herein have been prepared by Danaher Corporation (“Danaher” or the “Company”) without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). In this quarterly report, the terms “Danaher” or the “Company” refer to Danaher Corporation, Danaher Corporation and its consolidated subsidiaries, or the consolidated subsidiaries of Danaher Corporation, as the context requires. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) have been condensed or omitted pursuant to SEC rules and regulations; however, the Company believes that the disclosures are adequate to make the information presented not misleading. The Consolidated Condensed Financial Statements included herein should be read in conjunction with the financial statements as of and for the year ended December 31, 2023 and the Notes thereto included in the Company’s 2023 Annual Report on Form 10-K filed on February 21, 2024 (the “2023 Annual Report”). In the opinion of the Company, the accompanying financial statements contain all adjustments (consisting of only normal recurring accruals) necessary to present fairly the financial position of the Company as of June 28, 2024 and December 31, 2023, its results of operations for the three and six-month periods ended June 28, 2024 and June 30, 2023 and its cash flows for each of the six-month periods then ended. There have been no changes to the Company’s significant accounting policies described in the Company’s 2023 Annual Report that have a material impact on the Company’s Consolidated Condensed Financial Statements and the related Notes. Reclassifications of certain prior year amounts have been made to conform to the current year presentation. Accounting Standards Recently Adopted —In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, Improvements to Reportable Segment Disclosures . The ASU requires additional disclosures about reportable segments’ significant expenses on an interim and annual basis. On January 1, 2024, the Company adopted the ASU and it will first apply to the Company’s annual disclosures for the year ending December 31, 2024, which the Company is in the process of drafting. Accounting Standards Not Yet Adopted —In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures. The ASU expands disclosures in the income tax rate reconciliations table and cash taxes paid and is effective for annual periods beginning after December 15, 2024. The Company is assessing the impact of the ASU on the Company’s disclosures. Prepaid Expenses and Other Current Assets —Prepaid expenses and other current assets primarily result from advance payments to vendors for good and services which are capitalized until the related goods are received or services are performed and advance payments to tax authorities. The Company’s prepaid expenses and other current assets balances as of June 28, 2024 and December 31, 2023 are primarily comprised of prepaid expenses of $581 million and $771 million, respectively, and taxes receivable for income and other taxes of $613 million and $715 million, respectively. Operating Leases —As of June 28, 2024 and December 31, 2023, operating lease right-of-use assets where the Company was the lessee were approximately $1.1 billion and are included within other long-term assets in the accompanying Consolidated Condensed Balance Sheets. The associated operating lease liabilities were approximately $1.2 billion and $1.1 billion as of June 28, 2024 and December 31, 2023, respectively, and are included in accrued expenses and other liabilities and other long-term liabilities in the accompanying Consolidated Condensed Balance Sheets. Contingencies

Acquisitions

Acquisitions	6 Months Ended
Acquisitions	Jun. 28, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Acquisitions	ACQUISITIONS For a description of the Company’s acquisition activity for the year ended December 31, 2023, reference is made to the financial statements as of and for the year ended December 31, 2023 and Note 2 thereto included in the Company’s 2023 Annual Report. The Company continually evaluates potential acquisitions that either strategically fit with the Company’s existing portfolio or expand the Company’s portfolio into a new and attractive business area. The Company has completed a number of acquisitions that have been accounted for as purchases and have resulted in the recognition of goodwill in the Company’s financial statements. This goodwill arises because the purchase prices for these businesses exceed the fair value of acquired identifiable net assets due to the purchase prices reflecting a number of factors including the future earnings and cash flow potential of these businesses, the multiple to earnings, cash flow and other factors at which similar businesses have been purchased by other acquirers, the competitive nature of the processes by which the Company acquired the businesses, the avoidance of the time and costs which would be required (and the associated risks that would be encountered) to enhance the Company’s existing product offerings to key target markets and enter into new and profitable businesses and the complementary strategic fit and resulting synergies these businesses bring to existing operations. The Company makes an initial allocation of the purchase price at the date of acquisition based upon its understanding of the fair value of the acquired assets and assumed liabilities. The Company obtains the information used for the purchase price allocation during due diligence and through other sources. In the months after closing, as the Company obtains additional information about the acquired assets and liabilities, including through tangible and intangible asset appraisals, and learns more about the newly acquired business, it is able to refine the estimates of fair value and more accurately allocate the purchase price. The fair values of acquired intangibles are determined based on estimates and assumptions that are deemed reasonable by the Company. Significant assumptions include the discount rates and certain assumptions that form the basis of the forecasted results of the acquired business including earnings before interest, taxes, depreciation and amortization (“EBITDA”), revenue, revenue growth rates, royalty rates and technology obsolescence rates. These assumptions are forward looking and could be affected by future economic and market conditions. The Company engages third-party valuation specialists who review the Company’s critical assumptions and calculations of the fair value of acquired intangible assets in connection with significant acquisitions. O nly facts and circumstances that existed as of the acquisition date are considered for subsequent adjustment. During the six-month period ended June 28, 2024, the Company acquired one business for total consideration of $12 million in cash, net of cash acquired. The business acquired complements existing units of the Company’s Life Sciences segment. The aggregate annual sales of the business acquired in 2024 at the time of acquisition, based on the company’s revenues for its last completed fiscal year prior to the acquisition, were less than $3 million. The Company is continuing to evaluate certain pre-acquisition contingencies associated with the 2023 acquisition of Abcam plc (“Abcam”) and its 2024 acquisition and is also in the process of obtaining valuations of certain acquisition-related assets and liabilities in connection with these acquisitions. T he Company will make appropriate adjustments to the purchase price allocation prior to completion of the measurement period, as required. Pro Forma Financial Information The unaudited pro forma information for the periods set forth below gives effect to the 2023 and 2024 acquisitions as if they had occurred as of January 1, 2023, including the results from operations for the acquired businesses as well as the impact of assumed financing of the transaction and the impact of the purchase price allocation (including the amortization of acquired intangible assets). The pro forma information is presented for informational purposes only and is not necessarily indicative of the results of operations that actually would have been achieved had the acquisitions been consummated as of that time ($ in millions, except per share amounts): Three-Month Period Ended Six-Month Period Ended June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 Sales $ 5,743 $ 6,035 $ 11,540 $ 12,112 Net earnings from continuing operations 907 858 2,014 1,983 Diluted net earnings per common share from continuing operations (a) 1.22 1.15 2.70 2.65 (a) Diluted net earnings per common share from continuing operations for the six-month period ended June 30, 2023 is calculated by deducting the Mandatory Convertible Preferred Stock (“MCPS”) dividends from net earnings from continuing operations for the anti-dilutive MCPS shares (refer to Note 4 for additional information). The six-month period ended June 28, 2024 unaudited proforma net earnings from continuing operations set forth above were adjusted to exclude the pretax impact of a $25 million non-recurring acquisition date fair value adjustment to inventory. The six-month period ended June 30, 2023

Discontinued Operations

Discontinued Operations	6 Months Ended
Discontinued Operations	Jun. 28, 2024
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	DISCONTINUED OPERATIONS On September 30, 2023, the Company completed the separation (the “Separation”) of Veralto Corporation (“Veralto”). For additional details on the Separation, reference is made to the financial statements as of and for the year ended December 31, 2023 and Note 3 thereto included in the Company’s 2023 Annual Report on Form 10-K. The accounting requirements for reporting the Separation of Veralto as a discontinued operation were met when the Separation was completed. Accordingly, the accompanying Consolidated Condensed Financial Statements for all periods presented reflect this business as a discontinued operation. In connection with the Separation, Danaher and Veralto entered into various agreements to effect the Separation and provide a framework for their relationship after the Separation, including a separation and distribution agreement, transition services agreement, an employee matters agreement, a tax matters agreement, an intellectual property matters agreement and a Danaher Business System license agreement. These agreements provide for the allocation between Danaher and Veralto of assets, employees, liabilities and obligations (including investments, property and employee benefits and tax-related assets and liabilities) attributable to periods prior to, at and after Veralto’s separation from Danaher and govern certain relationships between Danaher and Veralto after the Separation. The key components of income from discontinued operations for the three and six-month periods ended June 30, 2023 were as follows ($ in millions): Three-Month Period Ended Six-Month Period Ended Sales $ 1,245 $ 2,463 Cost of sales (522) (1,032) Selling, general and administrative expenses (400) (775) Research and development expenses (57) (113) Other income (expense) (14) (14) Interest expense (2) (4) Income from discontinued operations before income taxes 250 525 Income tax expense (64) (129) Earnings from discontinued operations, net of income taxes $ 186 $ 396

Net Earnings Per Common Share

Net Earnings Per Common Share	6 Months Ended
Net Earnings Per Common Share	Jun. 28, 2024
Earnings Per Share [Abstract]
Net Earnings Per Common Share	NET EARNINGS PER COMMON SHARE Basic net earnings per common share from continuing operations (“EPS”) is calculated by taking net earnings from continuing operations less the MCPS dividends divided by the weighted average number of common shares outstanding for the applicable period. Diluted net EPS from continuing operations is computed by taking net earnings from continuing operations less the MCPS dividends divided by the weighted average number of common shares outstanding increased by the number of additional shares that would have been outstanding had the potentially dilutive common shares been issued and reduced by the number of shares the Company could have repurchased with the proceeds from the issuance of the potentially dilutive shares. For the three-month periods ended June 28, 2024 and June 30, 2023, approximately 2.9 million and 4.7 million options, respectively, and for the six-month periods ended June 28, 2024 and June 30, 2023, approximately 1.7 million and 3.5 million options, respectively, to purchase shares were excluded from the diluted EPS calculation, as the impact of their inclusion would have been anti-dilutive. Basic and diluted EPS are computed independently for each quarter and year-to-date period, and each period involves the use of different weighted-average share count figures. As a result, and after factoring the effect of rounding to the nearest cent per share, the sum of prior quarterly EPS figures may not equal year-to-date EPS. The impact of the MCPS Series B calculated under the if-converted method was dilutive for the three-month period ended June 30, 2023, and as such 1.5 million shares underlying the MCPS Series B were included in the calculation of diluted EPS in the three-month period. The impact of the MCPS Series B calculated under the if-converted method was anti-dilutive for the six-month period ended June 30, 2023, and as such 5.1 million shares underlying the MCPS Series B were excluded from the calculation of diluted EPS and the related MCPS dividends of $21 million were included in the calculation of net earnings for diluted EPS. As of April 17, 2023, all outstanding shares of the MCPS converted into 8.6 million shares of the Company’s common stock. Information related to the calculation of net earnings per common share from continuing operations is summarized as follows ($ and shares in millions, except per share amounts): Three-Month Period Ended Six-Month Period Ended June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 Numerator: Net earnings from continuing operations $ 907 $ 920 $ 1,995 $ 2,160 MCPS dividends — — — (21) Net earnings from continuing operations attributable to common stockholders for Basic and Diluted EPS $ 907 $ 920 $ 1,995 $ 2,139 Denominator: Weighted average common shares outstanding used in Basic EPS 737.6 737.3 739.1 733.4 Incremental common shares from: Assumed exercise of dilutive options and vesting of dilutive restricted stock units (“RSUs”) and performance stock units (“PSUs”) 4.8 5.9 6.4 6.8 Weighted average MCPS converted shares — 1.5 — — Weighted average common shares outstanding used in Diluted EPS 742.4 744.7 745.5 740.2 Basic EPS from continuing operations $ 1.23 $ 1.25 $ 2.70 $ 2.92 Diluted EPS from continuing operations $ 1.22 $ 1.24 $ 2.68 $ 2.89

Revenue

Revenue	6 Months Ended
Revenue	Jun. 28, 2024
Revenue from Contract with Customer [Abstract]
Revenue	REVENUE The following tables present the Company’s revenues disaggregated by geographical region and revenue type for the three and six-month periods ended June 28, 2024 and June 30, 2023 ($ in millions) . Sales taxes and other usage-based taxes collected from customers are excluded from revenue. Biotechnology Life Sciences Diagnostics Total For the Three-Month Period Ended June 28, 2024: Geographical region: North America (a) $ 607 $ 785 $ 1,042 $ 2,434 Western Europe 567 374 380 1,321 Other developed markets (b) 81 116 95 292 High-growth markets (c) 458 495 743 1,696 Total $ 1,713 $ 1,770 $ 2,260 $ 5,743 Revenue type: Recurring $ 1,478 $ 1,208 $ 2,003 $ 4,689 Nonrecurring 235 562 257 1,054 Total $ 1,713 $ 1,770 $ 2,260 $ 5,743 For the Three-Month Period Ended June 30, 2023: Geographical region: North America (a) $ 611 $ 757 $ 982 $ 2,350 Western Europe 684 375 365 1,424 Other developed markets (b) 72 124 100 296 High-growth markets (c) 518 540 784 1,842 Total $ 1,885 $ 1,796 $ 2,231 $ 5,912 Revenue type: Recurring $ 1,534 $ 1,104 $ 1,958 $ 4,596 Nonrecurring 351 692 273 1,316 Total $ 1,885 $ 1,796 $ 2,231 $ 5,912 Biotechnology Life Sciences Diagnostics Total For the Six-Month Period Ended June 28, 2024: Geographical region: North America (a) $ 1,121 $ 1,566 $ 2,379 $ 5,066 Western Europe 1,113 746 786 2,645 Other developed markets (b) 160 241 194 595 High-growth markets (c) 843 962 1,428 3,233 Total $ 3,237 $ 3,515 $ 4,787 $ 11,539 Revenue type: Recurring $ 2,787 $ 2,400 $ 4,297 $ 9,484 Nonrecurring 450 1,115 490 2,055 Total $ 3,237 $ 3,515 $ 4,787 $ 11,539 For the Six-Month Period Ended June 30, 2023: Geographical region: North America (a) $ 1,229 $ 1,465 $ 2,106 $ 4,800 Western Europe 1,331 739 785 2,855 Other developed markets (b) 151 252 217 620 High-growth markets (c) 1,038 1,049 1,499 3,586 Total $ 3,749 $ 3,505 $ 4,607 $ 11,861 Revenue type: Recurring $ 3,045 $ 2,143 $ 4,070 $ 9,258 Nonrecurring 704 1,362 537 2,603 Total $ 3,749 $ 3,505 $ 4,607 $ 11,861 (a) The Company defines North America as the United States and Canada. (b ) The Company defines other developed markets as all the markets of the world that are not North America, Western Europe or high-growth markets. (c) The Company defines high-growth markets as developing markets of the world experiencing accelerated growth, over extended periods, in gross domestic product and infrastructure which include Eastern Europe, the Middle East, Africa, Latin America (including Mexico) and Asia (with the exception of Japan, Australia and New Zealand). The Company defines developed markets as all markets of the world that are not high-growth markets. The Company’s products and services primarily consist of life sciences research, biopharmaceutical drug production and medical diagnostic, products and services. The Company sells equipment to customers as well as consumables, software and services, some of which customers purchase on a recurring basis. Consumables sold for use with the equipment sold by the Company are typically critical to the use of the equipment and are typically used on a one-time or limited basis, requiring frequent replacement in the customer’s operating cycle. Examples of these consumables include reagents used in diagnostic tests, chromatography resins used for research and bioprocessing and filters used in filtration, separation and purification processes. Additionally, some of the Company’s consumables are used on a standalone basis, such as custom nucleic acids, genomics solutions, antibodies and immunoassays. The Company separates its goods and services between those typically sold to a customer on a recurring basis and those typically sold to a customer on a nonrecurring basis. Recurring revenue includes revenue from consumables (both used with Company equipment and used on a standalone basis), services and operating-type leases (“OTLs”). Nonrecurring revenue includes sales of equipment and sales-type leases (“STLs”). OTLs and STLs are included in the above revenue amounts. For the three-month periods ended June 28, 2024 and June 30, 2023, lease revenue was $95 million and $98 million, respectively. For the six-month periods ended June 28, 2024 and June 30, 2023, lease revenue was $194 million and $199 million , respectively. Remaining performance obligations related to Topic 606, Revenue from Contracts with Customers, represent the aggregate transaction price allocated to performance obligations with an original contract term greater than one year which are fully or partially unsatisfied at the end of the period. As of June 28, 2024, the aggregate amount of the transaction price allocated to remaining performance obligations was approximately $4.5 billion. The Company expects to recognize revenue on approximately 51% of the remaining performance obligations over the next 12 months, 26% over the subsequent 12 months, and the remainder recognized thereafter. The timing of revenue recognition, billings and cash collections results in billed accounts receivable, unbilled receivables (“contract assets”) and deferred revenue, customer deposits and billings in excess of revenue recognized (“contract liabilities”) on the Consolidated Condensed Balance Sheets. Contract assets and liabilities are reported on a net basis on the accompanying Consolidated Condensed Balance Sheets on a contract-by-contract basis at the end of each reporting period.

Segment Information

Segment Information	6 Months Ended
Segment Information	Jun. 28, 2024
Segment Reporting [Abstract]
Segment Information	SEGMENT INFORMATION The Company operates and reports its results in business segments consisting of the Biotechnology, Life Sciences and Diagnostics segments. Operating profit represents total revenues less operating expenses, excluding nonoperating income and expense, interest and income taxes. Operating profit amounts in the Other segment consist of unallocated corporate costs and other costs not considered part of management’s evaluation of reportable segment operating performance. Intersegment amounts are not significant and are eliminated to arrive at consolidated totals. Segment results are shown below ($ in millions): Three-Month Period Ended Six-Month Period Ended June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 Sales: Biotechnology $ 1,713 $ 1,885 $ 3,237 $ 3,749 Life Sciences 1,770 1,796 3,515 3,505 Diagnostics 2,260 2,231 4,787 4,607 Total $ 5,743 $ 5,912 $ 11,539 $ 11,861 Operating profit: Biotechnology $ 462 $ 480 $ 787 $ 1,076 Life Sciences 233 340 468 661 Diagnostics 556 424 1,386 1,101 Other (83) (81) (161) (158) Total $ 1,168 $ 1,163 $ 2,480 $ 2,680

Income Taxes

Income Taxes	6 Months Ended
Income Taxes	Jun. 28, 2024
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES The following table summarizes the Company’s effective tax rate: Three-Month Period Ended Six-Month Period Ended June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 Effective tax rate 16.3 % 19.4 % 15.3 % 18.9 % The Company operates globally, including in certain jurisdictions with lower tax rates than the United States (“U.S.”) federal statutory rate. Therefore, the impact of operating in such jurisdictions contributes to a lower effective tax rate compared to the U.S. federal statutory tax rate. The effective tax rate for the three-month period ended June 28, 2024 differs from the U.S. federal statutory rate of 21.0% principally due to the impact of the Company’s global operations, research tax credits, foreign-derived intangible income and aggregate net discrete benefits of $9 million related primarily to excess tax benefits from stock-based compensation. The aggregate net discrete benefits reduced the effective tax rate by 0.8% for the three-month period ended June 28, 2024. The effective tax rate for the six-month period ended June 28, 2024 differs from the U.S. federal statutory rate of 21.0% principally due to the impact of the Company’s global operations, research tax credits, foreign-derived intangible income and aggregate net discrete benefits of $45 million related primarily to excess tax benefits from stock-based compensation, release of reserves for uncertain tax positions due to the expiration of statutes of limitation and changes in estimates associated with prior period uncertain tax positions. The aggregate net discrete benefits reduced the effective tax rate by 1.9% for the six-month period ended June 28, 2024. The effective tax rate for the three-month period ended June 30, 2023 differs from the U.S. federal statutory rate of 21.0% principally due to the impact of its global operations, research tax credits and foreign-derived intangible income, partially offset by net discrete tax charges of $19 million. Net discrete tax charges related primarily to tax costs related to the separation of the Environmental & Applied Solutions business, tax costs related to legal and operational actions taken to realign certain businesses and changes in estimates associated with prior period uncertain tax positions, partially offset by interest on prior year tax refunds. The net discrete charges increased the effective tax rate by 1.7% for the three-month period ended June 30, 2023. The effective tax rate for the six-month period ended June 30, 2023 differs from the U.S. federal statutory rate of 21.0% principally due to the impact of its global operations, research tax credits and foreign-derived intangible income, partially offset by net discrete tax charges of $19 million. Net discrete tax charges related primarily to tax costs related to the separation of the Environmental & Applied Solutions business, tax costs related to legal and operational actions taken to realign certain businesses and changes in estimates associated with prior period uncertain tax positions, partially offset by excess tax benefits from stock-based compensation and interest on prior year tax refunds. The net discrete charges increased the effective tax rate by 0.7% for the six-month period ended June 30, 2023. In the fourth quarter of 2022, the U.S. Internal Revenue Service (“IRS”) proposed significant adjustments to the Company’s taxable income for the years 2016 through 2018 with respect to the deferral of tax on certain premium income related to the Company’s self-insurance programs. For income tax purposes, the recognition of premium income has been deferred in accordance with U.S. tax laws related to insurance. The proposed adjustments would have increased the Company’s taxable income over the 2016 through 2018 periods by approximately $2.5 billion. In the first quarter of 2023, the Company settled these proposed adjustments with the IRS, although the audit is still open with respect to other matters for the 2016 through 2018 period. The impact of the settlement with respect to the Company’s self-insurance policies was not material to the Company’s financial statements, including cash flows and the effective tax rate. As the settlement with the IRS was specific to the audit period, the settlement does not preclude the IRS from proposing similar adjustments to the Company’s self-insurance programs with respect to periods subsequent to 2018. Management believes the positions the Company has taken in its U.S. tax returns are in accordance with the relevant tax laws. For a description of the Company’s significant tax matters, reference is made to the financial statements as of and for the year ended December 31, 2023 and Note 7 thereto included in the Company’s 2023 Annual Report.

Other Income (Expense), Net

Other Income (Expense), Net	6 Months Ended
Other Income (Expense), Net	Jun. 28, 2024
Other Income and Expenses [Abstract]
Other Income (Expense), Net	OTHER INCOME (EXPENSE), NET The following sets forth the components of the Company’s other income (expense), net ($ in millions): Three-Month Period Ended Six-Month Period Ended June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 Other components of net periodic benefit costs $ — $ 2 $ 1 $ 4 Investment gains (losses): Realized investment gains (losses) — — (39) — Unrealized investment gains (losses) (59) (17) (57) 5 Total investment gains (losses) (59) (17) (96) 5 Total other income (expense), net $ (59) $ (15) $ (95) $ 9 Other Components of Net Periodic Benefit Costs The Company disaggregates the service cost component of net periodic benefit costs of noncontributory defined benefit pension plans and other postretirement employee benefit plans. The service cost component is presented in cost of goods sold and selling, general and administrative expenses. The other components of net periodic benefit costs are presented in other income (expense), net. These other components of net periodic benefit costs include the assumed rate of return on plan assets, partially offset by amortization of actuarial losses and interest. Investment Gains (Losses)

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	6 Months Ended
Goodwill and Other Intangible Assets	Jun. 28, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	GOODWILL AND OTHER INTANGIBLE ASSETS The following is a rollforward of the Company’s goodwill ($ in millions): Balance, December 31, 2023 $ 41,608 Attributable to 2024 acquisition 8 Adjustments due to finalization of purchase price allocations (25) Foreign currency translation and other (786) Balance, June 28, 2024 $ 40,805 The carrying value of goodwill by segment is summarized as follows ($ in millions): June 28, 2024 December 31, 2023 Biotechnology $ 21,879 $ 22,477 Life Sciences 12,090 12,221 Diagnostics 6,836 6,910 Total $ 40,805 $ 41,608 The Company has not identified any “triggering” events which indicate an impairment of goodwill in 2024.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
Fair Value Measurements	Jun. 28, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	FAIR VALUE MEASUREMENTS Accounting standards define fair value based on an exit price model, establish a framework for measuring fair value where the Company’s assets and liabilities are required to be carried at fair value and provide for certain disclosures related to the valuation methods used within a valuation hierarchy as established within the accounting standards. This hierarchy prioritizes the inputs into three broad levels as follows. Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 inputs are quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets in markets that are not active, or other observable characteristics for the asset or liability, including interest rates, yield curves and credit risks, or inputs that are derived principally from, or corroborated by, observable market data through correlation. Level 3 inputs are unobservable inputs based on the Company’s assumptions. A financial asset or liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement in its entirety. A summary of financial assets that are measured at fair value on a recurring basis were as follows ($ in millions): Balance Quoted Prices in Active Market (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) June 28, 2024 December 31, 2023 June 28, 2024 December 31, 2023 June 28, 2024 December 31, 2023 June 28, 2024 December 31, 2023 Assets: Available-for-sale debt securities $ — $ 5 $ — $ — $ — $ 5 $ — $ — Investment in equity securities 223 234 6 16 — — — — Cross-currency swap derivative contracts 476 291 — — 476 291 — — Available-for-sale debt securities, which are included in other long-term assets in the accompanying Consolidated Condensed Balance Sheets, are measured at fair value using quoted prices reported by investment brokers and dealers based on the underlying terms of the security and comparison to similar securities traded on an active market. As of December 31, 2023, available-for-sale debt securities primarily included U.S. Treasury Notes and corporate debt securities. The Company’s investments in equity securities consist of investments in publicly traded equity securities and investments in non-marketable equity securities. The publicly traded securities are classified as Level 1 in the fair value hierarchy as they are measured based on quotes in active markets. For the non-marketable equity securities, the Company estimates the fair value of the investments using the Fair Value Alternative. The Company’s investments in these equity securities are not classified in the fair value hierarchy due to the use of these measurement methods. Additionally, the Company is a limited partner in partnerships that invest primarily in early-stage companies. While the partnerships record these investments at fair value, the Company’s investments in the partnerships are accounted for under the equity method of accounting and are not subject to fair value measurement disclosures noted above. As of June 28, 2024 and December 31, 2023, the Company’s equity method investments included investments in partnerships with a carrying value of approximately $1.5 billion and $1.4 billion, respectively. Refer to Note 8 for additional information on gains and losses on the Company’s investments including investments in the partnerships. The cross-currency swap derivative contracts are classified as Level 2 in the fair value hierarchy as they are measured using the income approach with the relevant interest rates and current currency exchange rates and forward curves as inputs. Refer to Note 12 for additional information. Fair Value of Other Financial Instruments The carrying amounts and fair values of the Company’s other financial instruments were as follows ($ in millions): June 28, 2024 December 31, 2023 Carrying Amount Fair Value Carrying Amount Fair Value Debt obligations: Notes payable and current portion of long-term debt $ 701 $ 692 $ 1,695 $ 1,672 Long-term debt 16,309 13,584 16,707 14,415 As of June 28, 2024 and December 31, 2023, short and long-term borrowings were categorized as Level 1. The fair value of long-term borrowings was based on quoted market prices. The difference between the fair value and the carrying amounts of long-term borrowings is attributable to changes in market interest rates and/or the Company’s credit ratings subsequent to the incurrence of the borrowing. The fair values of borrowings with original maturities of one year or less, as well as cash and cash equivalents, trade accounts receivable, net and trade accounts payable generally approximate their carrying amounts due to the short-term maturities of these instruments.

Financing

Financing	6 Months Ended
Financing	Jun. 28, 2024
Debt Disclosure [Abstract]
Financing	FINANCING As of June 28, 2024, the Company was in compliance with all of its debt covenants. The components of the Company’s debt were as follows ($ in millions): Outstanding Amount Description and Aggregate Principal Amount June 28, 2024 December 31, 2023 Euro-denominated commercial paper (€929 million) (e) $ 995 $ 1,026 1.7% senior unsecured notes due 3/30/2024 (€900 million) (the “2024 Euronotes”) (f) — 993 2.2% senior unsecured notes due 11/15/2024 ($700 million) (the “2024 Biopharma Notes”) (b) 700 699 3.35% senior unsecured notes due 9/15/2025 ($500 million) (the “2025 U.S. Notes”) (f) 499 499 0.2% senior unsecured notes due 3/18/2026 (€1.3 billion) (the “2026 Biopharma Euronotes”) (b) 1,336 1,376 2.1% senior unsecured notes due 9/30/2026 (€800 million) (the “2026 Euronotes”) (f) 855 881 0.3% senior unsecured notes due 5/11/2027 (¥30.8 billion) (the “2027 Yen Notes”) (d) 191 218 1.2% senior unsecured notes due 6/30/2027 (€600 million) (the “2027 Euronotes”) (a) 641 660 0.45% senior unsecured notes due 3/18/2028 (€1.3 billion) (the “2028 Biopharma Euronotes”) (b) 1,333 1,374 1.125% senior unsecured bonds due 12/08/2028 (CHF 210 million) (the “2028 CHF Bonds”) (c) 236 252 2.6% senior unsecured notes due 11/15/2029 ($800 million) (the “2029 Biopharma Notes”) (b) 797 797 2.5% senior unsecured notes due 3/30/2030 (€800 million) (the “2030 Euronotes”) (f) 857 883 0.75% senior unsecured notes due 9/18/2031 (€1.8 billion) (the “2031 Biopharma Euronotes”) (b) 1,866 1,923 0.65% senior unsecured notes due 5/11/2032 (¥53.2 billion) (the “2032 Yen Notes”) (d) 329 376 1.35% senior unsecured notes due 9/18/2039 (€1.3 billion) (the “2039 Biopharma Euronotes”) (b) 1,325 1,365 3.25% senior unsecured notes due 11/15/2039 ($900 million) (the “2039 Biopharma Notes”) (b) 891 891 4.375% senior unsecured notes due 9/15/2045 ($500 million) (the “2045 U.S. Notes”) (f) 499 499 1.8% senior unsecured notes due 9/18/2049 (€750 million) (the “2049 Biopharma Euronotes”) (b) 795 819 3.4% senior unsecured notes due 11/15/2049 ($900 million) (the “2049 Biopharma Notes”) (b) 890 890 2.6% senior unsecured notes due 10/01/2050 ($1.0 billion) (the “2050 U.S. Notes”) (f) 982 981 2.8% senior unsecured notes due 12/10/2051 ($1.0 billion) (the “2051 U.S. Notes”) (f) 985 984 Other 8 16 Total debt 17,010 18,402 Less: currently payable (701) (1,695) Long-term debt $ 16,309 $ 16,707 (a) Issued by DH Europe Finance S.A. (“Danaher International”). (b) Issued by DH Europe Finance II S.a.r.l. (“Danaher International II”). (c) Issued by DH Switzerland Finance S.A. (“Danaher Switzerland”). (d) Issued by DH Japan Finance S.A. (“Danaher Japan”). (e) Issued by Danaher Corporation or Danaher International II. (f) Issued by Danaher Corporation. Debt discounts, premiums and debt issuance costs totaled $101 million and $107 million as of June 28, 2024 and December 31, 2023, respectively, and have been netted against the aggregate principal amounts of the related debt in the components of debt table above. For additional details regarding the Company’s debt financing, refer to Note 14 of the Company’s financial statements as of and for the year ended December 31, 2023 included in the Company’s 2023 Annual Report. The Company has historically satisfied short-term liquidity needs that are not met through operating cash flow and available cash primarily through issuances of commercial paper under its U.S. dollar and euro-denominated commercial paper programs. The Company’s $5.0 billion unsecured, multi-year revolving credit facility with a syndicate of banks that expires on August 11, 2028 (the “Credit Facility”), is available for direct borrowings and provides credit support for the commercial paper programs. For a description of the Credit Facility, refer to the Company’s 2023 Annual Report. As of June 28, 2024, borrowings outstanding under the Company’s euro-denominated commercial paper program had a weighted average annual interest rate of 4.0% and a weighted average remaining maturity of approximately 48 days. There were no borrowings outstanding under the U.S. dollar-denominated commercial paper program as of June 28, 2024. Guarantors of Debt The Company has guaranteed long-term debt and commercial paper issued by certain of its wholly-owned finance subsidiaries: Danaher International, Danaher International II, Danaher Switzerland and Danaher Japan. All of the outstanding and future securities issued by each of these entities are or will be fully and unconditionally guaranteed by the Company and these guarantees rank on parity with the Company’s unsecured and unsubordinated indebtedness. Long-Term Debt Repayments

Hedging Transactions and Deriva

Hedging Transactions and Derivative Financial Instruments	6 Months Ended
Hedging Transactions and Derivative Financial Instruments	Jun. 28, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Hedging Transactions and Derivative Financial Instruments	HEDGING TRANSACTIONS AND DERIVATIVE FINANCIAL INSTRUMENTS The Company uses cross-currency swap derivative contracts to partially hedge its net investments in non-U.S. operations against adverse movements in exchange rates between the U.S. dollar and the Danish kroner, Japanese yen, euro and Swiss franc. These contracts are agreements to exchange fixed-rate payments in one currency for fixed-rate payments in another currency and effectively convert U.S. dollar-denominated bonds to obligations denominated in the hedged currency. These contracts also reduce the interest rate from the stated interest rates on the U.S. dollar-denominated debt to the interest rates of the swaps. The changes in the spot rate of these instruments are recorded in accumulated other comprehensive income (loss) (“OCI”) in stockholders’ equity, partially offsetting the foreign currency translation adjustment of the Company’s related net investment that is also recorded in accumulated OCI. The interest income or expense from these swaps are recorded in interest expense in the accompanying Consolidated Condensed Statements of Earnings consistent with the classification of interest expense attributable to the underlying debt. These instruments mature on dates ranging from September 2025 to December 2031. The Company also uses cross-currency swap derivative contracts to hedge U.S. dollar-denominated long-term debt issuances in a foreign subsidiary whose functional currency is the euro against adverse movements in exchange rates. These contracts effectively convert these U.S. dollar-denominated bonds to obligations denominated in euro. The changes in the fair value of these instruments are recorded in accumulated OCI and are subsequently reclassified to net earnings to offset the remeasurement of the hedged debt that is also recorded in net earnings. The interest income or expense from these swaps are recorded in interest expense in the accompanying Consolidated Condensed Statements of Earnings consistent with the classification of interest expense attributable to the underlying debt. These instruments mature on dates ranging from November 2024 to November 2049. The Company has also issued foreign currency denominated long-term debt as partial hedges of its net investments in foreign operations against adverse movements in exchange rates between the U.S. dollar and the euro, Japanese yen and Swiss franc. These debt issuances are designated and qualify as nonderivative hedging instruments. Accordingly, the foreign currency translation of these debt instruments is recorded in accumulated OCI, offsetting the foreign currency translation adjustment of the Company’s related net investment that is also recorded in accumulated OCI. These instruments mature on dates ranging from July 2024 to May 2032. The Company used interest rate swap agreements to hedge the variability in cash flows due to changes in benchmark interest rates related to a portion of the debt the Company issued. These contracts effectively fixed the interest rate for a portion of the Company’s debt equal to the notional amount of the swaps to the rate specified in the interest rate swap agreements and were settled in November 2019 and December 2021. The changes in the fair value of these instruments were recorded in accumulated OCI prior to the issuance of the debt and are subsequently being reclassified to interest expense over the life of the related debt. The following table summarizes the notional values as of June 28, 2024 and June 30, 2023 and pretax impact of changes in the fair values of instruments designated as net investment hedges and cash flow hedges in accumulated OCI for the three and six-month periods ended June 28, 2024 and June 30, 2023 ($ in millions): Original Notional Amount Notional Amount Outstanding Gain (Loss) Recognized in OCI Amounts Reclassified from OCI For the Three-Month Period Ended June 28, 2024: Net investment hedges: Cross-currency contracts $ 3,875 $ 3,000 $ 52 $ — Foreign currency denominated debt 3,109 3,109 48 — Cash flow hedges: Cross-currency contracts 4,000 3,300 55 (25) Interest rate swaps 1,600 — — 1 Total $ 12,584 $ 9,409 $ 155 $ (24) For the Three-Month Period Ended June 30, 2023: Net investment hedges: Cross-currency contracts $ 3,875 $ 3,000 $ (58) $ — Foreign currency denominated debt 5,828 5,828 6 — Cash flow hedges: Cross-currency contracts 4,000 3,300 (127) 20 Interest rate swaps 1,600 — — 1 Total $ 15,303 $ 12,128 $ (179) $ 21 For the Six-Month Period Ended June 28, 2024: Net investment hedges: Cross-currency contracts $ 3,875 $ 3,000 $ 107 $ — Foreign currency denominated debt 3,109 3,109 182 — Cash flow hedges: Cross-currency contracts 4,000 3,300 78 (99) Interest rate swaps 1,600 — — 2 Total $ 12,584 $ 9,409 $ 367 $ (97) For the Six-Month Period Ended June 30, 2023: Net investment hedges: Cross-currency contracts $ 3,875 $ 3,000 $ (66) $ — Foreign currency denominated debt 5,828 5,828 (51) — Cash flow hedges: Cross-currency contracts 4,000 3,300 (90) 63 Interest rate swaps 1,600 — — 2 Total $ 15,303 $ 12,128 $ (207) $ 65 Gains or losses related to the net investment hedges are classified as foreign currency translation adjustments in the schedule of changes in OCI in Note 13, as these items are attributable to the Company’s hedges of its net investment in foreign operations. Gains or losses related to the cash flow hedges are classified as cash flow hedge adjustments in the schedule of changes in OCI in Note 13. The amount reclassified from OCI for the cross-currency swap derivative contracts that are cash flow hedges of the Company’s U.S. dollar-denominated debt was equal to the remeasurement amount recorded in the three and six-month periods on the hedged debt. The Company did not reclassify any other deferred gains or losses related to net investment hedges or cash flow hedges from accumulated OCI to earnings during the three and six-month periods ended June 28, 2024 and June 30, 2023. In addition, the Company did not have any ineffectiveness related to net investment hedges or cash flow hedges during the three and six-month periods ended June 28, 2024 and June 30, 2023. Should any ineffectiveness arise, any ineffective portions of the hedges would be reclassified from accumulated OCI into earnings during the period of change. The cash inflows and outflows associated with the Company’s derivative contracts designated as net investment hedges are classified in all other investing activities in the accompanying Consolidated Condensed Statements of Cash Flows. The cash inflows and outflows associated with the Company’s derivative contracts designated as cash flow hedges are classified in cash flows from operating activities in the accompanying Consolidated Condensed Statements of Cash Flows. The Company’s derivative instruments, as well as its nonderivative debt instruments designated and qualifying as net investment hedges, were classified in the Company’s Consolidated Condensed Balance Sheets as follows ($ in millions): June 28, 2024 December 31, 2023 Derivative assets: Other long-term assets $ 476 $ 291 Nonderivative hedging instruments: Notes payable and current portion of long-term debt — 993 Long-term debt 3,109 3,270 Amounts related to the Company’s derivatives expected to be reclassified from accumulated OCI to net earnings during the next 12 months, if interest rates and foreign exchange rates remain unchanged, were not significant.

Stockholders' Equity and Stock-

Stockholders' Equity and Stock-based Compensation	6 Months Ended
Stockholders' Equity and Stock-based Compensation	Jun. 28, 2024
Share-Based Payment Arrangement [Abstract]
Stockholders' Equity and Stock-based Compensation	STOCKHOLDERS' EQUITY AND STOCK-BASED COMPENSATION Stockholders’ Equity On July 16, 2013, the Company’s Board of Directors approved a repurchase program (the “Repurchase Program”) authorizing the repurchase of up to 20 million shares of the Company’s common stock from time to time on the open market or in privately negotiated transactions. During the second quarter of 2024, the Company repurchased approximately 17.4 million shares of the Company’s common stock for approximately $4.6 billion (which includes $46 million of excise taxes which will be paid in 2025) as part of the Repurchase Program. As of June 28, 2024, approximately 2.6 million shares remained available for repurchase pursuant to the Repurchase Program. In July 2024, the Company repurchased approximately 1.9 million shares under the Repurchase Program. On July 22, 2024, the Company’s Board of Directors approved a new repurchase program (the “New Repurchase Program”) authorizing the repurchase of up to an additional 20 million shares of the Company’s common stock from time to time on the open market or in privately negotiated transactions (in addition to the shares remaining available for repurchase under the Repurchase Program). There is no expiration date for either the Repurchase Program or the New Repurchase Program, and the timing and amount of any shares repurchased under either program will be determined by members of the Company’s management based on its evaluation of market conditions and other factors. Either program may be suspended or discontinued at any time. Any repurchased shares will be available for use in connection with the Company’s equity compensation plans (or any successor plans) and for other corporate purposes. The following table summarizes the Company’s share activity (shares in millions): Three-Month Period Ended Six-Month Period Ended June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 Preferred stock - shares issued: Balance, beginning of period — 1.7 — 1.7 Conversion of MCPS to common stock — (1.7) — (1.7) Balance, end of period — — — — Common stock - shares issued: Balance, beginning of period 882.3 870.4 880.5 869.3 Common stock-based compensation awards 0.9 0.5 2.7 1.6 Issuance of common stock — 8.6 — 8.6 Balance, end of period 883.2 879.5 883.2 879.5 As of April 17, 2023, all outstanding shares of the Company’s MCPS converted to common shares at a rate of 5.0175 common shares per share of preferred stock into an aggregate of 8.6 million shares of the Company’s common stock, pursuant to the terms of the Certificate of Designation governing the Preferred Stock. For additional information on the MCPS, refer to Note 19 in the Company’s 2023 Annual Report. Stock-Based Compensation For a full description of the Company’s stock-based compensation programs, refer to Note 19 of the Company’s financial statements as of and for the year ended December 31, 2023 included in the Company’s 2023 Annual Report. As of June 28, 2024, approximately 47 million shares of the Company’s common stock were reserved for issuance under the 2007 Omnibus Incentive Plan. The following summarizes the components of the Company’s stock-based compensation expense ($ in millions): Three-Month Period Ended Six-Month Period Ended June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 RSUs/PSUs: Pretax compensation expense $ 46 $ 53 $ 78 $ 94 Income tax benefit (10) (12) (16) (20) RSU/PSU expense, net of income taxes 36 41 62 74 Stock options: Pretax compensation expense 41 43 69 72 Income tax benefit (8) (9) (14) (15) Stock option expense, net of income taxes 33 34 55 57 Total stock-based compensation: Pretax compensation expense 87 96 147 166 Income tax benefit (18) (21) (30) (35) Total stock-based compensation expense, net of income taxes $ 69 $ 75 $ 117 $ 131 Stock-based compensation has been recognized as a component of selling, general and administrative expenses in the accompanying Consolidated Condensed Statements of Earnings. As of June 28, 2024, $202 million of total unrecognized compensation cost related to RSUs/PSUs is expected to be recognized over a weighted average period of approximately two years. As of June 28, 2024, $230 million of total unrecognized compensation cost related to stock options is expected to be recognized over a weighted average period of approximately two years. Future compensation amounts will be adjusted for any changes in estimated forfeitures. Accumulated Other Comprehensive Income Accumulated OCI refers to certain gains and losses that under U.S. GAAP are included in comprehensive income (loss) but are excluded from net earnings as these amounts are initially recorded as an adjustment to stockholders’ equity. Foreign currency translation adjustments generally relate to indefinite investments in non-U.S. subsidiaries, as well as the impact from the Company’s hedges of its net investment in foreign operations, including the Company’s cross-currency swap derivatives, net of any income tax impacts. The changes in accumulated OCI by component are summarized below ($ in millions). Foreign Currency Translation Adjustments Pension and Postretirement Plan Benefit Adjustments Cash Flow Hedge Adjustments Accumulated Comprehensive Income (Loss) For the Three-Month Period Ended June 28, 2024: Balance, March 29, 2024 $ (2,394) $ (399) $ 49 $ (2,744) OCI before reclassifications: Increase (decrease) 133 — 55 188 Income tax impact (12) — — (12) OCI before reclassifications, net of income taxes 121 — 55 176 Reclassification adjustments: Increase (decrease) — 2 (a) (24) (b) (22) Income tax impact — — (1) (1) Reclassification adjustments, net of income taxes — 2 (25) (23) Net OCI, net of income taxes 121 2 30 153 Balance, June 28, 2024 $ (2,273) $ (397) $ 79 $ (2,591) For the Three-Month Period Ended June 30, 2023: Balance, March 31, 2023 $ (2,619) $ (341) $ 194 $ (2,766) OCI before reclassifications: Increase (decrease) (718) — (127) (845) Income tax impact 14 — — 14 OCI before reclassifications, net of income taxes (704) — (127) (831) Reclassification adjustments: Increase (decrease) — — (a) 21 (b) 21 Income tax impact — — — — Reclassification adjustments, net of income taxes — — 21 21 Net OCI, net of income taxes (704) — (106) (810) Balance, June 30, 2023 $ (3,323) $ (341) $ 88 $ (3,576) Foreign Currency Translation Adjustments Pension and Postretirement Plan Benefit Adjustments Cash Flow Hedge Adjustments Accumulated Comprehensive Income (Loss) For the Six-Month Period Ended June 28, 2024: Balance, December 31, 2023 $ (1,446) $ (401) $ 99 $ (1,748) OCI before reclassifications: Increase (decrease) (802) — 78 (724) Income tax impact (25) — — (25) OCI before reclassifications, net of income taxes (827) — 78 (749) Reclassification adjustments: Increase (decrease) — 5 (a) (97) (b) (92) Income tax impact — (1) (1) (2) Reclassification adjustments, net of income taxes — 4 (98) (94) Net OCI, net of income taxes (827) 4 (20) (843) Balance, June 28, 2024 $ (2,273) $ (397) $ 79 $ (2,591) For the Six-Month Period Ended June 30, 2023: Balance, December 31, 2022 $ (2,644) $ (341) $ 113 $ (2,872) OCI before reclassifications: Increase (decrease) (695) — (90) (785) Income tax impact 16 — — 16 OCI before reclassifications, net of income taxes (679) — (90) (769) Reclassification adjustments: Increase (decrease) — — (a) 65 (b) 65 Income tax impact — — — — Reclassification adjustments, net of income taxes — — 65 65 Net OCI, net of income taxes (679) — (25) (704) Balance, June 30, 2023 $ (3,323) $ (341) $ 88 $ (3,576) (a) This accumulated other comprehensive income (loss) component is included in the computation of net periodic benefit cost (refer to Note 8 for additional details). (b) Reflects reclassification to earnings related to cash flow hedges of certain long-term debt (refer to Note 12 for additional details).

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Jun. 28, 2024	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net earnings	$ 907	$ 1,106	$ 1,995	$ 2,556

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 28, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

General (Policies)

General (Policies)	6 Months Ended
General (Policies)	Jun. 28, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accounting Standards Recently Adopted and Not Yet Adopted	Accounting Standards Recently Adopted —In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, Improvements to Reportable Segment Disclosures . The ASU requires additional disclosures about reportable segments’ significant expenses on an interim and annual basis. On January 1, 2024, the Company adopted the ASU and it will first apply to the Company’s annual disclosures for the year ending December 31, 2024, which the Company is in the process of drafting. Accounting Standards Not Yet Adopted —In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures. The ASU expands disclosures in the income tax rate reconciliations table and cash taxes paid and is effective for annual periods beginning after December 15, 2024. The Company is assessing the impact of the ASU on the Company’s disclosures.
Operating Leases	Operating Leases
Contingencies	Contingencies
Prepaid Expenses and Other Current Asset	Prepaid Expenses and Other Current Assets

Acquisition (Tables)

Acquisition (Tables)	6 Months Ended
Acquisition (Tables)	Jun. 28, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Pro Forma Financial Information	The pro forma information is presented for informational purposes only and is not necessarily indicative of the results of operations that actually would have been achieved had the acquisitions been consummated as of that time ($ in millions, except per share amounts): Three-Month Period Ended Six-Month Period Ended June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 Sales $ 5,743 $ 6,035 $ 11,540 $ 12,112 Net earnings from continuing operations 907 858 2,014 1,983 Diluted net earnings per common share from continuing operations (a) 1.22 1.15 2.70 2.65 (a)

Discontinued Operations (Tables

Discontinued Operations (Tables)	6 Months Ended
Discontinued Operations (Tables)	Jun. 28, 2024
Discontinued Operations and Disposal Groups [Abstract]
Summary of Key Components of Discontinued Operations	The key components of income from discontinued operations for the three and six-month periods ended June 30, 2023 were as follows ($ in millions): Three-Month Period Ended Six-Month Period Ended Sales $ 1,245 $ 2,463 Cost of sales (522) (1,032) Selling, general and administrative expenses (400) (775) Research and development expenses (57) (113) Other income (expense) (14) (14) Interest expense (2) (4) Income from discontinued operations before income taxes 250 525 Income tax expense (64) (129) Earnings from discontinued operations, net of income taxes $ 186 $ 396

Net Earnings Per Common Share (

Net Earnings Per Common Share (Tables)	6 Months Ended
Net Earnings Per Common Share (Tables)	Jun. 28, 2024
Earnings Per Share [Abstract]
Information Related to the Calculation of Net Earnings Per Common Share	Information related to the calculation of net earnings per common share from continuing operations is summarized as follows ($ and shares in millions, except per share amounts): Three-Month Period Ended Six-Month Period Ended June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 Numerator: Net earnings from continuing operations $ 907 $ 920 $ 1,995 $ 2,160 MCPS dividends — — — (21) Net earnings from continuing operations attributable to common stockholders for Basic and Diluted EPS $ 907 $ 920 $ 1,995 $ 2,139 Denominator: Weighted average common shares outstanding used in Basic EPS 737.6 737.3 739.1 733.4 Incremental common shares from: Assumed exercise of dilutive options and vesting of dilutive restricted stock units (“RSUs”) and performance stock units (“PSUs”) 4.8 5.9 6.4 6.8 Weighted average MCPS converted shares — 1.5 — — Weighted average common shares outstanding used in Diluted EPS 742.4 744.7 745.5 740.2 Basic EPS from continuing operations $ 1.23 $ 1.25 $ 2.70 $ 2.92 Diluted EPS from continuing operations $ 1.22 $ 1.24 $ 2.68 $ 2.89

Revenue (Tables)

Revenue (Tables)	6 Months Ended
Revenue (Tables)	Jun. 28, 2024
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following tables present the Company’s revenues disaggregated by geographical region and revenue type for the three and six-month periods ended June 28, 2024 and June 30, 2023 ($ in millions) . Sales taxes and other usage-based taxes collected from customers are excluded from revenue. Biotechnology Life Sciences Diagnostics Total For the Three-Month Period Ended June 28, 2024: Geographical region: North America (a) $ 607 $ 785 $ 1,042 $ 2,434 Western Europe 567 374 380 1,321 Other developed markets (b) 81 116 95 292 High-growth markets (c) 458 495 743 1,696 Total $ 1,713 $ 1,770 $ 2,260 $ 5,743 Revenue type: Recurring $ 1,478 $ 1,208 $ 2,003 $ 4,689 Nonrecurring 235 562 257 1,054 Total $ 1,713 $ 1,770 $ 2,260 $ 5,743 For the Three-Month Period Ended June 30, 2023: Geographical region: North America (a) $ 611 $ 757 $ 982 $ 2,350 Western Europe 684 375 365 1,424 Other developed markets (b) 72 124 100 296 High-growth markets (c) 518 540 784 1,842 Total $ 1,885 $ 1,796 $ 2,231 $ 5,912 Revenue type: Recurring $ 1,534 $ 1,104 $ 1,958 $ 4,596 Nonrecurring 351 692 273 1,316 Total $ 1,885 $ 1,796 $ 2,231 $ 5,912 Biotechnology Life Sciences Diagnostics Total For the Six-Month Period Ended June 28, 2024: Geographical region: North America (a) $ 1,121 $ 1,566 $ 2,379 $ 5,066 Western Europe 1,113 746 786 2,645 Other developed markets (b) 160 241 194 595 High-growth markets (c) 843 962 1,428 3,233 Total $ 3,237 $ 3,515 $ 4,787 $ 11,539 Revenue type: Recurring $ 2,787 $ 2,400 $ 4,297 $ 9,484 Nonrecurring 450 1,115 490 2,055 Total $ 3,237 $ 3,515 $ 4,787 $ 11,539 For the Six-Month Period Ended June 30, 2023: Geographical region: North America (a) $ 1,229 $ 1,465 $ 2,106 $ 4,800 Western Europe 1,331 739 785 2,855 Other developed markets (b) 151 252 217 620 High-growth markets (c) 1,038 1,049 1,499 3,586 Total $ 3,749 $ 3,505 $ 4,607 $ 11,861 Revenue type: Recurring $ 3,045 $ 2,143 $ 4,070 $ 9,258 Nonrecurring 704 1,362 537 2,603 Total $ 3,749 $ 3,505 $ 4,607 $ 11,861 (a) The Company defines North America as the United States and Canada. (b ) The Company defines other developed markets as all the markets of the world that are not North America, Western Europe or high-growth markets. (c) The Company defines high-growth markets as developing markets of the world experiencing accelerated growth, over extended periods, in gross domestic product and infrastructure which include Eastern Europe, the Middle East, Africa, Latin America (including Mexico) and Asia (with the exception of Japan, Australia and New Zealand). The Company defines developed markets as all markets of the world that are not high-growth markets.

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
Segment Information (Tables)	Jun. 28, 2024
Segment Reporting [Abstract]
Segment Results	Segment results are shown below ($ in millions): Three-Month Period Ended Six-Month Period Ended June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 Sales: Biotechnology $ 1,713 $ 1,885 $ 3,237 $ 3,749 Life Sciences 1,770 1,796 3,515 3,505 Diagnostics 2,260 2,231 4,787 4,607 Total $ 5,743 $ 5,912 $ 11,539 $ 11,861 Operating profit: Biotechnology $ 462 $ 480 $ 787 $ 1,076 Life Sciences 233 340 468 661 Diagnostics 556 424 1,386 1,101 Other (83) (81) (161) (158) Total $ 1,168 $ 1,163 $ 2,480 $ 2,680

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
Income Taxes (Tables)	Jun. 28, 2024
Income Tax Disclosure [Abstract]
Summary of Effective Income Tax Rate	The following table summarizes the Company’s effective tax rate: Three-Month Period Ended Six-Month Period Ended June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 Effective tax rate 16.3 % 19.4 % 15.3 % 18.9 %

Other Income (Expense), Net (Ta

Other Income (Expense), Net (Tables)	6 Months Ended
Other Income (Expense), Net (Tables)	Jun. 28, 2024
Other Income and Expenses [Abstract]
Schedule of Other Nonoperating Income (Expense)	The following sets forth the components of the Company’s other income (expense), net ($ in millions): Three-Month Period Ended Six-Month Period Ended June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 Other components of net periodic benefit costs $ — $ 2 $ 1 $ 4 Investment gains (losses): Realized investment gains (losses) — — (39) — Unrealized investment gains (losses) (59) (17) (57) 5 Total investment gains (losses) (59) (17) (96) 5 Total other income (expense), net $ (59) $ (15) $ (95) $ 9

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	6 Months Ended
Goodwill and Other Intangible Assets (Tables)	Jun. 28, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Rollforward of Goodwill	The following is a rollforward of the Company’s goodwill ($ in millions): Balance, December 31, 2023 $ 41,608 Attributable to 2024 acquisition 8 Adjustments due to finalization of purchase price allocations (25) Foreign currency translation and other (786) Balance, June 28, 2024 $ 40,805 The carrying value of goodwill by segment is summarized as follows ($ in millions): June 28, 2024 December 31, 2023 Biotechnology $ 21,879 $ 22,477 Life Sciences 12,090 12,221 Diagnostics 6,836 6,910 Total $ 40,805 $ 41,608
Goodwill by Segment	The following is a rollforward of the Company’s goodwill ($ in millions): Balance, December 31, 2023 $ 41,608 Attributable to 2024 acquisition 8 Adjustments due to finalization of purchase price allocations (25) Foreign currency translation and other (786) Balance, June 28, 2024 $ 40,805 The carrying value of goodwill by segment is summarized as follows ($ in millions): June 28, 2024 December 31, 2023 Biotechnology $ 21,879 $ 22,477 Life Sciences 12,090 12,221 Diagnostics 6,836 6,910 Total $ 40,805 $ 41,608

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
Fair Value Measurements (Tables)	Jun. 28, 2024
Fair Value Disclosures [Abstract]
Financial Assets and Liabilities Carried at Fair Value	A summary of financial assets that are measured at fair value on a recurring basis were as follows ($ in millions): Balance Quoted Prices in Active Market (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) June 28, 2024 December 31, 2023 June 28, 2024 December 31, 2023 June 28, 2024 December 31, 2023 June 28, 2024 December 31, 2023 Assets: Available-for-sale debt securities $ — $ 5 $ — $ — $ — $ 5 $ — $ — Investment in equity securities 223 234 6 16 — — — — Cross-currency swap derivative contracts 476 291 — — 476 291 — —
Carrying Amounts and Fair Values of Financial Instruments	The carrying amounts and fair values of the Company’s other financial instruments were as follows ($ in millions): June 28, 2024 December 31, 2023 Carrying Amount Fair Value Carrying Amount Fair Value Debt obligations: Notes payable and current portion of long-term debt $ 701 $ 692 $ 1,695 $ 1,672 Long-term debt 16,309 13,584 16,707 14,415

Financing (Tables)

Financing (Tables)	6 Months Ended
Financing (Tables)	Jun. 28, 2024
Debt Disclosure [Abstract]
Components of Debt	The components of the Company’s debt were as follows ($ in millions): Outstanding Amount Description and Aggregate Principal Amount June 28, 2024 December 31, 2023 Euro-denominated commercial paper (€929 million) (e) $ 995 $ 1,026 1.7% senior unsecured notes due 3/30/2024 (€900 million) (the “2024 Euronotes”) (f) — 993 2.2% senior unsecured notes due 11/15/2024 ($700 million) (the “2024 Biopharma Notes”) (b) 700 699 3.35% senior unsecured notes due 9/15/2025 ($500 million) (the “2025 U.S. Notes”) (f) 499 499 0.2% senior unsecured notes due 3/18/2026 (€1.3 billion) (the “2026 Biopharma Euronotes”) (b) 1,336 1,376 2.1% senior unsecured notes due 9/30/2026 (€800 million) (the “2026 Euronotes”) (f) 855 881 0.3% senior unsecured notes due 5/11/2027 (¥30.8 billion) (the “2027 Yen Notes”) (d) 191 218 1.2% senior unsecured notes due 6/30/2027 (€600 million) (the “2027 Euronotes”) (a) 641 660 0.45% senior unsecured notes due 3/18/2028 (€1.3 billion) (the “2028 Biopharma Euronotes”) (b) 1,333 1,374 1.125% senior unsecured bonds due 12/08/2028 (CHF 210 million) (the “2028 CHF Bonds”) (c) 236 252 2.6% senior unsecured notes due 11/15/2029 ($800 million) (the “2029 Biopharma Notes”) (b) 797 797 2.5% senior unsecured notes due 3/30/2030 (€800 million) (the “2030 Euronotes”) (f) 857 883 0.75% senior unsecured notes due 9/18/2031 (€1.8 billion) (the “2031 Biopharma Euronotes”) (b) 1,866 1,923 0.65% senior unsecured notes due 5/11/2032 (¥53.2 billion) (the “2032 Yen Notes”) (d) 329 376 1.35% senior unsecured notes due 9/18/2039 (€1.3 billion) (the “2039 Biopharma Euronotes”) (b) 1,325 1,365 3.25% senior unsecured notes due 11/15/2039 ($900 million) (the “2039 Biopharma Notes”) (b) 891 891 4.375% senior unsecured notes due 9/15/2045 ($500 million) (the “2045 U.S. Notes”) (f) 499 499 1.8% senior unsecured notes due 9/18/2049 (€750 million) (the “2049 Biopharma Euronotes”) (b) 795 819 3.4% senior unsecured notes due 11/15/2049 ($900 million) (the “2049 Biopharma Notes”) (b) 890 890 2.6% senior unsecured notes due 10/01/2050 ($1.0 billion) (the “2050 U.S. Notes”) (f) 982 981 2.8% senior unsecured notes due 12/10/2051 ($1.0 billion) (the “2051 U.S. Notes”) (f) 985 984 Other 8 16 Total debt 17,010 18,402 Less: currently payable (701) (1,695) Long-term debt $ 16,309 $ 16,707 (a) Issued by DH Europe Finance S.A. (“Danaher International”). (b) Issued by DH Europe Finance II S.a.r.l. (“Danaher International II”). (c) Issued by DH Switzerland Finance S.A. (“Danaher Switzerland”). (d) Issued by DH Japan Finance S.A. (“Danaher Japan”). (e) Issued by Danaher Corporation or Danaher International II. (f) Issued by Danaher Corporation.

Hedging Transactions and Deri_2

Hedging Transactions and Derivative Financial Instruments (Tables)	6 Months Ended
	Jun. 28, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments, Gain (Loss)	The following table summarizes the notional values as of June 28, 2024 and June 30, 2023 and pretax impact of changes in the fair values of instruments designated as net investment hedges and cash flow hedges in accumulated OCI for the three and six-month periods ended June 28, 2024 and June 30, 2023 ($ in millions): Original Notional Amount Notional Amount Outstanding Gain (Loss) Recognized in OCI Amounts Reclassified from OCI For the Three-Month Period Ended June 28, 2024: Net investment hedges: Cross-currency contracts $ 3,875 $ 3,000 $ 52 $ — Foreign currency denominated debt 3,109 3,109 48 — Cash flow hedges: Cross-currency contracts 4,000 3,300 55 (25) Interest rate swaps 1,600 — — 1 Total $ 12,584 $ 9,409 $ 155 $ (24) For the Three-Month Period Ended June 30, 2023: Net investment hedges: Cross-currency contracts $ 3,875 $ 3,000 $ (58) $ — Foreign currency denominated debt 5,828 5,828 6 — Cash flow hedges: Cross-currency contracts 4,000 3,300 (127) 20 Interest rate swaps 1,600 — — 1 Total $ 15,303 $ 12,128 $ (179) $ 21 For the Six-Month Period Ended June 28, 2024: Net investment hedges: Cross-currency contracts $ 3,875 $ 3,000 $ 107 $ — Foreign currency denominated debt 3,109 3,109 182 — Cash flow hedges: Cross-currency contracts 4,000 3,300 78 (99) Interest rate swaps 1,600 — — 2 Total $ 12,584 $ 9,409 $ 367 $ (97) For the Six-Month Period Ended June 30, 2023: Net investment hedges: Cross-currency contracts $ 3,875 $ 3,000 $ (66) $ — Foreign currency denominated debt 5,828 5,828 (51) — Cash flow hedges: Cross-currency contracts 4,000 3,300 (90) 63 Interest rate swaps 1,600 — — 2 Total $ 15,303 $ 12,128 $ (207) $ 65
Schedule of Notional Amounts of Outstanding Derivative Positions	The following table summarizes the notional values as of June 28, 2024 and June 30, 2023 and pretax impact of changes in the fair values of instruments designated as net investment hedges and cash flow hedges in accumulated OCI for the three and six-month periods ended June 28, 2024 and June 30, 2023 ($ in millions): Original Notional Amount Notional Amount Outstanding Gain (Loss) Recognized in OCI Amounts Reclassified from OCI For the Three-Month Period Ended June 28, 2024: Net investment hedges: Cross-currency contracts $ 3,875 $ 3,000 $ 52 $ — Foreign currency denominated debt 3,109 3,109 48 — Cash flow hedges: Cross-currency contracts 4,000 3,300 55 (25) Interest rate swaps 1,600 — — 1 Total $ 12,584 $ 9,409 $ 155 $ (24) For the Three-Month Period Ended June 30, 2023: Net investment hedges: Cross-currency contracts $ 3,875 $ 3,000 $ (58) $ — Foreign currency denominated debt 5,828 5,828 6 — Cash flow hedges: Cross-currency contracts 4,000 3,300 (127) 20 Interest rate swaps 1,600 — — 1 Total $ 15,303 $ 12,128 $ (179) $ 21 For the Six-Month Period Ended June 28, 2024: Net investment hedges: Cross-currency contracts $ 3,875 $ 3,000 $ 107 $ — Foreign currency denominated debt 3,109 3,109 182 — Cash flow hedges: Cross-currency contracts 4,000 3,300 78 (99) Interest rate swaps 1,600 — — 2 Total $ 12,584 $ 9,409 $ 367 $ (97) For the Six-Month Period Ended June 30, 2023: Net investment hedges: Cross-currency contracts $ 3,875 $ 3,000 $ (66) $ — Foreign currency denominated debt 5,828 5,828 (51) — Cash flow hedges: Cross-currency contracts 4,000 3,300 (90) 63 Interest rate swaps 1,600 — — 2 Total $ 15,303 $ 12,128 $ (207) $ 65
Schedule of Derivative and Non Derivative Instruments in Consolidated Condensed Balance Sheets	The Company’s derivative instruments, as well as its nonderivative debt instruments designated and qualifying as net investment hedges, were classified in the Company’s Consolidated Condensed Balance Sheets as follows ($ in millions): June 28, 2024 December 31, 2023 Derivative assets: Other long-term assets $ 476 $ 291 Nonderivative hedging instruments: Notes payable and current portion of long-term debt — 993 Long-term debt 3,109 3,270

Stockholders' Equity and Stoc_2

Stockholders' Equity and Stock-based Compensation (Tables)	6 Months Ended
Stockholders' Equity and Stock-based Compensation (Tables)	Jun. 28, 2024
Share-Based Payment Arrangement [Abstract]
Summary of Share Activity	The following table summarizes the Company’s share activity (shares in millions): Three-Month Period Ended Six-Month Period Ended June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 Preferred stock - shares issued: Balance, beginning of period — 1.7 — 1.7 Conversion of MCPS to common stock — (1.7) — (1.7) Balance, end of period — — — — Common stock - shares issued: Balance, beginning of period 882.3 870.4 880.5 869.3 Common stock-based compensation awards 0.9 0.5 2.7 1.6 Issuance of common stock — 8.6 — 8.6 Balance, end of period 883.2 879.5 883.2 879.5
Components of Stock-Based Compensation Program	The following summarizes the components of the Company’s stock-based compensation expense ($ in millions): Three-Month Period Ended Six-Month Period Ended June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 RSUs/PSUs: Pretax compensation expense $ 46 $ 53 $ 78 $ 94 Income tax benefit (10) (12) (16) (20) RSU/PSU expense, net of income taxes 36 41 62 74 Stock options: Pretax compensation expense 41 43 69 72 Income tax benefit (8) (9) (14) (15) Stock option expense, net of income taxes 33 34 55 57 Total stock-based compensation: Pretax compensation expense 87 96 147 166 Income tax benefit (18) (21) (30) (35) Total stock-based compensation expense, net of income taxes $ 69 $ 75 $ 117 $ 131
Components of Accumulated Other Comprehensive Income (Loss)	The changes in accumulated OCI by component are summarized below ($ in millions). Foreign Currency Translation Adjustments Pension and Postretirement Plan Benefit Adjustments Cash Flow Hedge Adjustments Accumulated Comprehensive Income (Loss) For the Three-Month Period Ended June 28, 2024: Balance, March 29, 2024 $ (2,394) $ (399) $ 49 $ (2,744) OCI before reclassifications: Increase (decrease) 133 — 55 188 Income tax impact (12) — — (12) OCI before reclassifications, net of income taxes 121 — 55 176 Reclassification adjustments: Increase (decrease) — 2 (a) (24) (b) (22) Income tax impact — — (1) (1) Reclassification adjustments, net of income taxes — 2 (25) (23) Net OCI, net of income taxes 121 2 30 153 Balance, June 28, 2024 $ (2,273) $ (397) $ 79 $ (2,591) For the Three-Month Period Ended June 30, 2023: Balance, March 31, 2023 $ (2,619) $ (341) $ 194 $ (2,766) OCI before reclassifications: Increase (decrease) (718) — (127) (845) Income tax impact 14 — — 14 OCI before reclassifications, net of income taxes (704) — (127) (831) Reclassification adjustments: Increase (decrease) — — (a) 21 (b) 21 Income tax impact — — — — Reclassification adjustments, net of income taxes — — 21 21 Net OCI, net of income taxes (704) — (106) (810) Balance, June 30, 2023 $ (3,323) $ (341) $ 88 $ (3,576) Foreign Currency Translation Adjustments Pension and Postretirement Plan Benefit Adjustments Cash Flow Hedge Adjustments Accumulated Comprehensive Income (Loss) For the Six-Month Period Ended June 28, 2024: Balance, December 31, 2023 $ (1,446) $ (401) $ 99 $ (1,748) OCI before reclassifications: Increase (decrease) (802) — 78 (724) Income tax impact (25) — — (25) OCI before reclassifications, net of income taxes (827) — 78 (749) Reclassification adjustments: Increase (decrease) — 5 (a) (97) (b) (92) Income tax impact — (1) (1) (2) Reclassification adjustments, net of income taxes — 4 (98) (94) Net OCI, net of income taxes (827) 4 (20) (843) Balance, June 28, 2024 $ (2,273) $ (397) $ 79 $ (2,591) For the Six-Month Period Ended June 30, 2023: Balance, December 31, 2022 $ (2,644) $ (341) $ 113 $ (2,872) OCI before reclassifications: Increase (decrease) (695) — (90) (785) Income tax impact 16 — — 16 OCI before reclassifications, net of income taxes (679) — (90) (769) Reclassification adjustments: Increase (decrease) — — (a) 65 (b) 65 Income tax impact — — — — Reclassification adjustments, net of income taxes — — 65 65 Net OCI, net of income taxes (679) — (25) (704) Balance, June 30, 2023 $ (3,323) $ (341) $ 88 $ (3,576) (a) This accumulated other comprehensive income (loss) component is included in the computation of net periodic benefit cost (refer to Note 8 for additional details). (b) Reflects reclassification to earnings related to cash flow hedges of certain long-term debt (refer to Note 12 for additional details).

General (Prepaid Expenses and O

General (Prepaid Expenses and Other Current Assets) (Details) - USD ($) $ in Millions	Jun. 28, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Prepaid expense	$ 581	$ 771
Taxes receivable	$ 613	$ 715

General (Operating Leases) (Det

General (Operating Leases) (Details) - USD ($) $ in Billions	Jun. 28, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Operating lease, right-of-use assets	$ 1.1	$ 1.1
Operating lease, liabilities	$ 1.2	$ 1.1

Acquisitions (Narrative) (Detai

Acquisitions (Narrative) (Details) $ in Millions	6 Months Ended
Acquisitions (Narrative) (Details) $ in Millions	Jun. 28, 2024 USD ($) business	Jun. 30, 2023 USD ($)
Business Acquisition [Line Items]
Cash paid for acquisition	$ 12	$ 0
Fair value adjustment to inventory
Business Acquisition [Line Items]
Pro forma earnings, adjustments	$ 25
Fair value adjustment to inventory and settlement of share-based payment awards
Business Acquisition [Line Items]
Pro forma earnings, adjustments		$ 92
Series of individually immaterial business acquisitions
Business Acquisition [Line Items]
Number of businesses acquired \| business	1
Cash paid for acquisition	$ 12
Revenue reported by acquired entity for last annual period (less than)	$ 3

Acquisitions (Pro Forma Financi

Acquisitions (Pro Forma Financial Information) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 28, 2024	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023
Business Combinations [Abstract]
Sales	$ 5,743	$ 6,035	$ 11,540	$ 12,112
Net earnings from continuing operations	$ 907	$ 858	$ 2,014	$ 1,983
Diluted net earnings per common share (in usd per share)	$ 1.22	$ 1.15	$ 2.70	$ 2.65

Discontinued Operations (Key Co

Discontinued Operations (Key Components of Income From Discontinued Operations (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 28, 2024	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Earnings from discontinued operations, net of income taxes	$ 0	$ 186	$ 0	$ 396
Discontinued Operations \| Veralto
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sales		1,245		2,463
Cost of sales		(522)		(1,032)
Selling, general and administrative expenses		(400)		(775)
Research and development expenses		(57)		(113)
Other income (expense)		(14)		(14)
Interest expense		(2)		(4)
Income from discontinued operations before income taxes		250		525
Income tax expense		(64)		(129)
Earnings from discontinued operations, net of income taxes		$ 186		$ 396

Net Earnings Per Common Share_2

Net Earnings Per Common Share (Narrative) (Details) - USD ($) shares in Millions, $ in Millions		3 Months Ended		6 Months Ended
	Apr. 17, 2023	Jun. 28, 2024	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dilutive MCPS shares included in computation of earnings per share (in shares)		0	1.5	0	0
Mandatory convertible preferred stock dividends		$ 0	$ 0	$ 0	$ 21
MCPS Series B
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)					5.1
Dilutive MCPS shares included in computation of earnings per share (in shares)			1.5
Common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)		2.9	4.7	1.7	3.5
Preferred stock \| MCPS Series B
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Mandatory convertible preferred stock dividends					$ 21
Conversion of MCPS to common stock (in shares)	8.6

Net Earnings Per Common Share_3

Net Earnings Per Common Share (Components of Basic and Diluted Earnings per Share from Continuing Operations) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 28, 2024	Jun. 30, 2023	Jun. 28, 2024		Jun. 30, 2023
Numerator
Net earnings from continuing operations	$ 907	$ 920	$ 1,995		$ 2,160
MCPS dividends	0	0	0		(21)
Net earnings from continuing operations attributable to common stockholders for Basis EPS	907	920	1,995		2,139
Net earnings from continuing operations attributable to common stockholders for Diluted EPS	$ 907	$ 920	$ 1,995		$ 2,139
Denominator:
Weighted average common shares outstanding used in Basic EPS (in shares)	737.6	737.3	739.1		733.4
Incremental common shares from:
Assumed exercise of dilutive options and vesting of dilutive restricted stock units (“RSUs”) and performance stock units (“PSUs”) (in shares)	4.8	5.9	6.4		6.8
Weighted average MCPS converted shares (in shares)	0	1.5	0		0
Weighted average common shares outstanding used in Diluted EPS (in shares)	742.4	744.7	745.5		740.2
Basic EPS from continuing operations (in usd per share)	$ 1.23	$ 1.25	$ 2.70		$ 2.92
Diluted EPS from continuing operations (in usd per share)	$ 1.22	$ 1.24	$ 2.68	[1]	$ 2.89

[1] (a) Net earnings per common share amounts for the relevant three-month periods do not add to the six-month period amount due to rounding.

Revenue (Disaggregation of Reve

Revenue (Disaggregation of Revenue by Geographical Region) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 28, 2024	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Revenue	$ 5,743	$ 5,912	$ 11,539	$ 11,861
Recurring revenue
Disaggregation of Revenue [Line Items]
Revenue	4,689	4,596	9,484	9,258
Nonrecurring revenue
Disaggregation of Revenue [Line Items]
Revenue	1,054	1,316	2,055	2,603
North America
Disaggregation of Revenue [Line Items]
Revenue	2,434	2,350	5,066	4,800
Western Europe
Disaggregation of Revenue [Line Items]
Revenue	1,321	1,424	2,645	2,855
Other developed markets
Disaggregation of Revenue [Line Items]
Revenue	292	296	595	620
High-growth markets
Disaggregation of Revenue [Line Items]
Revenue	1,696	1,842	3,233	3,586
Operating segments \| Biotechnology
Disaggregation of Revenue [Line Items]
Revenue	1,713	1,885	3,237	3,749
Operating segments \| Biotechnology \| Recurring revenue
Disaggregation of Revenue [Line Items]
Revenue	1,478	1,534	2,787	3,045
Operating segments \| Biotechnology \| Nonrecurring revenue
Disaggregation of Revenue [Line Items]
Revenue	235	351	450	704
Operating segments \| Biotechnology \| North America
Disaggregation of Revenue [Line Items]
Revenue	607	611	1,121	1,229
Operating segments \| Biotechnology \| Western Europe
Disaggregation of Revenue [Line Items]
Revenue	567	684	1,113	1,331
Operating segments \| Biotechnology \| Other developed markets
Disaggregation of Revenue [Line Items]
Revenue	81	72	160	151
Operating segments \| Biotechnology \| High-growth markets
Disaggregation of Revenue [Line Items]
Revenue	458	518	843	1,038
Operating segments \| Life Sciences
Disaggregation of Revenue [Line Items]
Revenue	1,770	1,796	3,515	3,505
Operating segments \| Life Sciences \| Recurring revenue
Disaggregation of Revenue [Line Items]
Revenue	1,208	1,104	2,400	2,143
Operating segments \| Life Sciences \| Nonrecurring revenue
Disaggregation of Revenue [Line Items]
Revenue	562	692	1,115	1,362
Operating segments \| Life Sciences \| North America
Disaggregation of Revenue [Line Items]
Revenue	785	757	1,566	1,465
Operating segments \| Life Sciences \| Western Europe
Disaggregation of Revenue [Line Items]
Revenue	374	375	746	739
Operating segments \| Life Sciences \| Other developed markets
Disaggregation of Revenue [Line Items]
Revenue	116	124	241	252
Operating segments \| Life Sciences \| High-growth markets
Disaggregation of Revenue [Line Items]
Revenue	495	540	962	1,049
Operating segments \| Diagnostics
Disaggregation of Revenue [Line Items]
Revenue	2,260	2,231	4,787	4,607
Operating segments \| Diagnostics \| Recurring revenue
Disaggregation of Revenue [Line Items]
Revenue	2,003	1,958	4,297	4,070
Operating segments \| Diagnostics \| Nonrecurring revenue
Disaggregation of Revenue [Line Items]
Revenue	257	273	490	537
Operating segments \| Diagnostics \| North America
Disaggregation of Revenue [Line Items]
Revenue	1,042	982	2,379	2,106
Operating segments \| Diagnostics \| Western Europe
Disaggregation of Revenue [Line Items]
Revenue	380	365	786	785
Operating segments \| Diagnostics \| Other developed markets
Disaggregation of Revenue [Line Items]
Revenue	95	100	194	217
Operating segments \| Diagnostics \| High-growth markets
Disaggregation of Revenue [Line Items]
Revenue	$ 743	$ 784	$ 1,428	$ 1,499

Revenue (Narrative) (Details)

Revenue (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Revenue (Narrative) (Details) - USD ($) $ in Millions	Jun. 28, 2024	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Revenue, OTLs and STLs	$ 95	$ 98	$ 194	$ 199
Contract with customer, liabilities	$ 1,600		1,600		$ 1,700
Contract with customer, liabilities, revenue recognized			$ 901	$ 892

Revenue (Performance Obligation

Revenue (Performance Obligations) (Details) $ in Billions	Jun. 28, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 4.5
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-06-29
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, percentage	51%
Revenue, remaining performance obligation, expected timing of satisfaction, period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-07-05
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, percentage	26%
Revenue, remaining performance obligation, expected timing of satisfaction, period	12 months

Segment Information (Segment Re

Segment Information (Segment Results) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 28, 2024	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023
Segment Reporting Information [Line Items]
Sales	$ 5,743	$ 5,912	$ 11,539	$ 11,861
Operating profit	1,168	1,163	2,480	2,680
Other
Segment Reporting Information [Line Items]
Operating profit	(83)	(81)	(161)	(158)
Biotechnology \| Operating segments
Segment Reporting Information [Line Items]
Sales	1,713	1,885	3,237	3,749
Operating profit	462	480	787	1,076
Life Sciences \| Operating segments
Segment Reporting Information [Line Items]
Sales	1,770	1,796	3,515	3,505
Operating profit	233	340	468	661
Diagnostics \| Operating segments
Segment Reporting Information [Line Items]
Sales	2,260	2,231	4,787	4,607
Operating profit	$ 556	$ 424	$ 1,386	$ 1,101

Income Taxes (Summary of Effect

Income Taxes (Summary of Effective Income Tax Rate) (Details)	3 Months Ended		6 Months Ended
	Jun. 28, 2024	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Effective tax rate	16.30%	19.40%	15.30%	18.90%

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
Income Taxes (Narrative) (Details) - USD ($) $ in Millions	Jun. 28, 2024	Jun. 30, 2023	Dec. 31, 2022	Jun. 28, 2024	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Federal statutory income tax rate, percent	21%	21%		21%	21%
Net tax benefits, impact, amount	$ 9	$ (19)		$ 45	$ (19)
Net tax charge (benefits) impact, percent	(0.80%)	1.70%		(1.90%)	0.70%
Domestic Tax Authority \| Internal Revenue Service (IRS)
Income Tax Contingency [Line Items]
Proposed adjustments to taxable income, self-insurance, other			$ 2,500

Other Income (Expense), Net (Sc

Other Income (Expense), Net (Schedule of Other Income (Expense)) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 28, 2024	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023
Other Income and Expenses [Abstract]
Other components of net periodic benefit costs	$ 0	$ 2	$ 1	$ 4
Investment gains (losses):
Realized investment gains (losses)	0	0	(39)	0
Unrealized investment gains (losses)	(59)	(17)	(57)	5
Total investment gains (losses)	(59)	(17)	(96)	5
Total other income (expense), net	$ (59)	$ (15)	$ (95)	$ 9

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets (Rollforward of Goodwill) (Details) $ in Millions	6 Months Ended
	Jun. 28, 2024 USD ($)
Goodwill [Roll Forward]
Balance, beginning of period	$ 41,608
Attributable to 2024 acquisition	8
Adjustments due to finalization of purchase price allocations	(25)
Foreign currency translation and other	(786)
Balance, end of period	$ 40,805

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets (Goodwill by Segment) (Details) - USD ($) $ in Millions	Jun. 28, 2024	Dec. 31, 2023
Goodwill [Line Items]
Total goodwill	$ 40,805	$ 41,608
Operating segments \| Biotechnology
Goodwill [Line Items]
Total goodwill	21,879	22,477
Operating segments \| Life Sciences
Goodwill [Line Items]
Total goodwill	12,090	12,221
Operating segments \| Diagnostics
Goodwill [Line Items]
Total goodwill	$ 6,836	$ 6,910

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023
Property, Plant and Equipment [Line Items]
Impairment charges	$ 28	$ 28
Facility
Property, Plant and Equipment [Line Items]
Impairment charges	$ 14	$ 14

Fair Value Measurements (Financ

Fair Value Measurements (Financial Assets and Liabilities Carried at Fair Value) (Details) - USD ($) $ in Millions	Jun. 28, 2024	Dec. 31, 2023
Assets:
Available-for-sale debt securities	$ 0	$ 5
Investment in equity securities	223	234
Cross-currency swap derivative contracts	476	291
Quoted Prices in Active Market (Level 1)
Assets:
Available-for-sale debt securities	0	0
Investment in equity securities	6	16
Cross-currency swap derivative contracts	0	0
Significant Other Observable Inputs (Level 2)
Assets:
Available-for-sale debt securities	0	5
Investment in equity securities	0	0
Cross-currency swap derivative contracts	476	291
Significant Unobservable Inputs (Level 3)
Assets:
Available-for-sale debt securities	0	0
Investment in equity securities	0	0
Cross-currency swap derivative contracts	$ 0	$ 0

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - USD ($) $ in Billions	Jun. 28, 2024	Dec. 31, 2023
Partnership
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Equity method investments	$ 1.5	$ 1.4

Fair Value Measurements (Carryi

Fair Value Measurements (Carrying Amounts and Fair Values of Other Financial Instruments) (Details) - USD ($) $ in Millions	Jun. 28, 2024	Dec. 31, 2023
Carrying Amount
Debt obligations:
Notes payable and current portion of long-term debt	$ 701	$ 1,695
Long-term debt	16,309	16,707
Fair Value
Debt obligations:
Notes payable and current portion of long-term debt	692	1,672
Long-term debt	$ 13,584	$ 14,415

Financing (Components of Debt)

Financing (Components of Debt) (Details) € in Millions, SFr in Millions, $ in Millions, ¥ in Billions	Jun. 28, 2024 USD ($)	Jun. 28, 2024 EUR (€)	Jun. 28, 2024 JPY (¥)	Jun. 28, 2024 CHF (SFr)	Apr. 02, 2024 EUR (€)	Dec. 31, 2023 USD ($)	Dec. 31, 2023 EUR (€)	Dec. 31, 2023 JPY (¥)	Dec. 31, 2023 CHF (SFr)
Debt Instrument [Line Items]
Subtotal	$ 17,010					$ 18,402
Less: currently payable	(701)					(1,695)
Long-term debt	16,309					16,707
Other
Debt Instrument [Line Items]
Subtotal	8					16
Commercial paper \| Euro-denominated commercial paper
Debt Instrument [Line Items]
Subtotal	995	€ 929				1,026	€ 929
Senior notes \| 1.7% senior notes due 2024
Debt Instrument [Line Items]
Subtotal	$ 0					$ 993
Interest rate of debt instrument	1.70%	1.70%	1.70%	1.70%		1.70%	1.70%	1.70%	1.70%
Aggregate principal amount \| €		€ 900			€ 900		€ 900
Senior notes \| 2.2% senior notes due 2024
Debt Instrument [Line Items]
Subtotal	$ 700					$ 699
Interest rate of debt instrument	2.20%	2.20%	2.20%	2.20%		2.20%	2.20%	2.20%	2.20%
Aggregate principal amount	$ 700					$ 700
Senior notes \| 3.35% senior notes due 2025
Debt Instrument [Line Items]
Subtotal	$ 499					$ 499
Interest rate of debt instrument	3.35%	3.35%	3.35%	3.35%		3.35%	3.35%	3.35%	3.35%
Aggregate principal amount	$ 500					$ 500
Senior notes \| 0.2% senior notes due 2026
Debt Instrument [Line Items]
Subtotal	$ 1,336					$ 1,376
Interest rate of debt instrument	0.20%	0.20%	0.20%	0.20%		0.20%	0.20%	0.20%	0.20%
Aggregate principal amount \| €		€ 1,300					€ 1,300
Senior notes \| 2.1% senior notes due 2026
Debt Instrument [Line Items]
Subtotal	$ 855					$ 881
Interest rate of debt instrument	2.10%	2.10%	2.10%	2.10%		2.10%	2.10%	2.10%	2.10%
Aggregate principal amount \| €		€ 800					€ 800
Senior notes \| 0.3% senior notes due 2027
Debt Instrument [Line Items]
Subtotal	$ 191					$ 218
Interest rate of debt instrument	0.30%	0.30%	0.30%	0.30%		0.30%	0.30%	0.30%	0.30%
Aggregate principal amount \| ¥			¥ 30.8					¥ 30.8
Senior notes \| 1.2% senior notes due 2027
Debt Instrument [Line Items]
Subtotal	$ 641					$ 660
Interest rate of debt instrument	1.20%	1.20%	1.20%	1.20%		1.20%	1.20%	1.20%	1.20%
Aggregate principal amount \| €		€ 600					€ 600
Senior notes \| 0.45% senior notes due 2028
Debt Instrument [Line Items]
Subtotal	$ 1,333					$ 1,374
Interest rate of debt instrument	0.45%	0.45%	0.45%	0.45%		0.45%	0.45%	0.45%	0.45%
Aggregate principal amount \| €		€ 1,300					€ 1,300
Senior notes \| 2.6% senior notes due 2029
Debt Instrument [Line Items]
Subtotal	$ 797					$ 797
Interest rate of debt instrument	2.60%	2.60%	2.60%	2.60%		2.60%	2.60%	2.60%	2.60%
Aggregate principal amount	$ 800					$ 800
Senior notes \| 2.5% senior notes due 2030
Debt Instrument [Line Items]
Subtotal	$ 857					$ 883
Interest rate of debt instrument	2.50%	2.50%	2.50%	2.50%		2.50%	2.50%	2.50%	2.50%
Aggregate principal amount \| €		€ 800					€ 800
Senior notes \| 0.75% senior notes due 2031
Debt Instrument [Line Items]
Subtotal	$ 1,866					$ 1,923
Interest rate of debt instrument	0.75%	0.75%	0.75%	0.75%		0.75%	0.75%	0.75%	0.75%
Aggregate principal amount \| €		€ 1,800					€ 1,800
Senior notes \| 0.65% senior notes due 2032
Debt Instrument [Line Items]
Subtotal	$ 329					$ 376
Interest rate of debt instrument	0.65%	0.65%	0.65%	0.65%		0.65%	0.65%	0.65%	0.65%
Aggregate principal amount \| ¥			¥ 53.2					¥ 53.2
Senior notes \| 1.35% senior notes due 2039
Debt Instrument [Line Items]
Subtotal	$ 1,325					$ 1,365
Interest rate of debt instrument	1.35%	1.35%	1.35%	1.35%		1.35%	1.35%	1.35%	1.35%
Aggregate principal amount \| €		€ 1,300					€ 1,300
Senior notes \| 3.25% senior notes due 2039
Debt Instrument [Line Items]
Subtotal	$ 891					$ 891
Interest rate of debt instrument	3.25%	3.25%	3.25%	3.25%		3.25%	3.25%	3.25%	3.25%
Aggregate principal amount	$ 900					$ 900
Senior notes \| 4.375% senior notes due 2045
Debt Instrument [Line Items]
Subtotal	$ 499					$ 499
Interest rate of debt instrument	4.375%	4.375%	4.375%	4.375%		4.375%	4.375%	4.375%	4.375%
Aggregate principal amount	$ 500					$ 500
Senior notes \| 1.8% senior notes due 2049
Debt Instrument [Line Items]
Subtotal	$ 795					$ 819
Interest rate of debt instrument	1.80%	1.80%	1.80%	1.80%		1.80%	1.80%	1.80%	1.80%
Aggregate principal amount \| €		€ 750					€ 750
Senior notes \| 3.4% senior notes due 2049
Debt Instrument [Line Items]
Subtotal	$ 890					$ 890
Interest rate of debt instrument	3.40%	3.40%	3.40%	3.40%		3.40%	3.40%	3.40%	3.40%
Aggregate principal amount	$ 900					$ 900
Senior notes \| 2.6% senior notes due 2050
Debt Instrument [Line Items]
Subtotal	$ 982					$ 981
Interest rate of debt instrument	2.60%	2.60%	2.60%	2.60%		2.60%	2.60%	2.60%	2.60%
Aggregate principal amount	$ 1,000					$ 1,000
Senior notes \| 2.8% senior unsecured notes due 2051
Debt Instrument [Line Items]
Subtotal	$ 985					$ 984
Interest rate of debt instrument	2.80%	2.80%	2.80%	2.80%		2.80%	2.80%	2.80%	2.80%
Aggregate principal amount	$ 1,000					$ 1,000
Bonds \| 1.125% senior bonds due 2028
Debt Instrument [Line Items]
Subtotal	$ 236					$ 252
Interest rate of debt instrument	1.125%	1.125%	1.125%	1.125%		1.125%	1.125%	1.125%	1.125%
Aggregate principal amount \| SFr				SFr 210					SFr 210

Financing (Narrative) (Details)

Financing (Narrative) (Details) € in Millions	6 Months Ended
Financing (Narrative) (Details) € in Millions	Jun. 28, 2024 EUR (€)	Jun. 28, 2024 USD ($)	Apr. 02, 2024 EUR (€)	Dec. 31, 2023 EUR (€)	Dec. 31, 2023 USD ($)
Debt Instrument [Line Items]
Debt discounts, premiums and debt issuance costs		$ 101,000,000			$ 107,000,000
Borrowings outstanding		17,010,000,000			18,402,000,000
Third Amended and Restated Multiyear Credit Facility \| Revolving credit facility \| Line of credit
Debt Instrument [Line Items]
Line of credit facility		$ 5,000,000,000
Euro-denominated commercial paper \| Commercial paper
Debt Instrument [Line Items]
Weighted average interest rate of long-term debt, interest rate	4%	4%
Weighted average maturity of long-term debt, at point in time	48 days
Borrowings outstanding	€ 929	$ 995,000,000		€ 929	1,026,000,000
U.S. dollar-denominated commercial paper \| Commercial paper
Debt Instrument [Line Items]
Borrowings outstanding		0
1.7% senior notes due 2024 \| Senior notes
Debt Instrument [Line Items]
Borrowings outstanding		$ 0			$ 993,000,000
Aggregate principal amount \| €	€ 900		€ 900	€ 900

Hedging Transactions and Deri_3

Hedging Transactions and Derivative Financial Instruments (Summary of Notional Values and Pretax Impact in Fair Values of Net Investment Hedges and Cash Flow Hedges) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 28, 2024	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023
Derivative Instruments, Gain (Loss) [Line Items]
Amounts Reclassified from OCI	$ 22	$ (21)	$ 92	$ (65)
Net investment hedges \| Cross-currency contracts
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, original notional amount	3,875	3,875	3,875	3,875
Derivative, notional amount outstanding	3,000	3,000	3,000	3,000
Gain (Loss) Recognized in OCI	52	(58)	107	(66)
Amounts Reclassified from OCI	0	0	0	0
Net investment hedges \| Foreign currency denominated debt
Derivative Instruments, Gain (Loss) [Line Items]
Nonderivative, notional amount	3,109	5,828	3,109	5,828
Net investment hedges, gain (loss), recognized in OCI	48	6	182	(51)
Amounts Reclassified from OCI	0	0	0	0
Cash flow hedges \| Cross-currency contracts
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, original notional amount	4,000	4,000	4,000	4,000
Derivative, notional amount outstanding	3,300	3,300	3,300	3,300
Gain (Loss) Recognized in OCI	55	(127)	78	(90)
Amounts Reclassified from OCI	(25)	20	(99)	63
Cash flow hedges \| Interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, original notional amount	1,600	1,600	1,600	1,600
Derivative, notional amount outstanding	0	0	0	0
Gain (Loss) Recognized in OCI	0	0	0	0
Amounts Reclassified from OCI	1	1	2	2
Cash flow and net investment hedges
Derivative Instruments, Gain (Loss) [Line Items]
Original Notional Amount	12,584	15,303	12,584	15,303
Notional Amount Outstanding	9,409	12,128	9,409	12,128
Gain (Loss) Recognized in OCI	155	(179)	367	(207)
Amounts Reclassified from OCI	$ (24)	$ 21	$ (97)	$ 65

Hedging Transactions and Deri_4

Hedging Transactions and Derivative Financial Instruments (Derivative and Nonderivative Debt Instruments) (Details) - USD ($) $ in Millions	Jun. 28, 2024	Dec. 31, 2023
Derivatives, Fair Value [Line Items]
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other long-term assets	Other long-term assets
Net investment hedges
Derivatives, Fair Value [Line Items]
Derivative assets	$ 476	$ 291
Net investment hedges \| Notes payable and current portion of long-term debt
Derivatives, Fair Value [Line Items]
Nonderivative hedging instruments	0	993
Net investment hedges \| Long-term debt
Derivatives, Fair Value [Line Items]
Nonderivative hedging instruments	$ 3,109	$ 3,270

Stockholders' Equity and Stoc_3

Stockholders' Equity and Stock-based Compensation (Narrative) (Details) $ in Millions		1 Months Ended	3 Months Ended	6 Months Ended
	Apr. 17, 2023 shares	Jul. 22, 2024 shares	Jun. 28, 2024 USD ($) shares	Jun. 28, 2024 USD ($) shares	Jul. 16, 2013 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Excise tax on stock repurchases \| $			$ 46
Remaining number of shares authorized to be repurchased (in shares)			2,600,000	2,600,000
Common shares reserved for issuance under the 2007 Omnibus Incentive Plan (in shares)			47,000,000	47,000,000
RSU/PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost \| $			$ 202	$ 202
Weighted average period for cost to be recognized				2 years
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost \| $			$ 230	$ 230
Weighted average period for cost to be recognized				2 years
Series B Preferred Stock \| Preferred stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Preferred stock, convertible, conversion rate	5.0175
Conversion of MCPS to common stock (in shares)	8,600,000
Common stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares repurchased (in shares)			17,400,000
Repurchases of common stock \| $			$ 4,600
Subsequent event \| Common stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares repurchased (in shares)		1,900,000
Repurchase Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized shares to be repurchased (in shares)					20,000,000
New Repurchase Program \| Subsequent event
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized shares to be repurchased (in shares)		20,000,000

Stockholders' Equity and Stoc_4

Stockholders' Equity and Stock-based Compensation (Summary of Share Activity) (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jun. 28, 2024	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023
Preferred stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning of period	0	1.7	0	1.7
Balance, end of period	0	0	0	0
Preferred stock \| Conversion of MCPS to common stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Conversion of MCPS to common stock (in shares)	0	(1.7)	0	(1.7)
Common stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning of period	882.3	870.4	880.5	869.3
Common stock-based compensation awards	0.9	0.5	2.7	1.6
Balance, end of period	883.2	879.5	883.2	879.5
Common stock \| Conversion of MCPS to common stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Conversion of MCPS to common stock (in shares)	0	8.6	0	8.6

Stockholders' Equity and Stoc_5

Stockholders' Equity and Stock-based Compensation (Components of Stock-Based Compensation Program) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 28, 2024	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pretax compensation expense	$ 87	$ 96	$ 147	$ 166
Income tax benefit	(18)	(21)	(30)	(35)
Total stock-based compensation expense, net of income taxes	69	75	117	131
RSU/PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pretax compensation expense	46	53	78	94
Income tax benefit	(10)	(12)	(16)	(20)
Total stock-based compensation expense, net of income taxes	36	41	62	74
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pretax compensation expense	41	43	69	72
Income tax benefit	(8)	(9)	(14)	(15)
Total stock-based compensation expense, net of income taxes	$ 33	$ 34	$ 55	$ 57

Stockholders' Equity and Stoc_6

Stockholders' Equity and Stock-based Compensation (Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 28, 2024	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ (2,744)	$ (2,766)	$ (1,748)	$ (2,872)
OCI before reclassifications:
Increase (decrease)	188	(845)	(724)	(785)
Income tax impact	(12)	14	(25)	16
OCI before reclassifications, net of income taxes	176	(831)	(749)	(769)
Reclassification adjustments:
Increase (decrease)	(22)	21	(92)	65
Income tax impact	(1)	0	(2)	0
Reclassification adjustments, net of income taxes	(23)	21	(94)	65
Total other comprehensive income (loss), net of income taxes	153	(810)	(843)	(704)
Ending balance	(2,591)	(3,576)	(2,591)	(3,576)
Foreign Currency Translation Adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(2,394)	(2,619)	(1,446)	(2,644)
OCI before reclassifications:
Increase (decrease)	133	(718)	(802)	(695)
Income tax impact	(12)	14	(25)	16
OCI before reclassifications, net of income taxes	121	(704)	(827)	(679)
Reclassification adjustments:
Increase (decrease)	0	0	0	0
Income tax impact	0	0	0	0
Reclassification adjustments, net of income taxes	0	0	0	0
Total other comprehensive income (loss), net of income taxes	121	(704)	(827)	(679)
Ending balance	(2,273)	(3,323)	(2,273)	(3,323)
Pension and Postretirement Plan Benefit Adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(399)	(341)	(401)	(341)
OCI before reclassifications:
Increase (decrease)	0	0	0	0
Income tax impact	0	0	0	0
OCI before reclassifications, net of income taxes	0	0	0	0
Reclassification adjustments:
Increase (decrease)	2	0	5	0
Income tax impact	0	0	(1)	0
Reclassification adjustments, net of income taxes	2	0	4	0
Total other comprehensive income (loss), net of income taxes	2	0	4	0
Ending balance	(397)	(341)	(397)	(341)
Cash Flow Hedge Adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	49	194	99	113
OCI before reclassifications:
Increase (decrease)	55	(127)	78	(90)
Income tax impact	0	0	0	0
OCI before reclassifications, net of income taxes	55	(127)	78	(90)
Reclassification adjustments:
Increase (decrease)	(24)	21	(97)	65
Income tax impact	(1)	0	(1)	0
Reclassification adjustments, net of income taxes	(25)	21	(98)	65
Total other comprehensive income (loss), net of income taxes	30	(106)	(20)	(25)
Ending balance	$ 79	$ 88	$ 79	$ 88