Danaher Corp. (DHR)

Income Statement

Difficulty: Beginner

The income statement presents information on the financial results of a company’s business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Danaher Corp., Consolidated Income Statement

USD $ in thousands

12 months ended	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015	Dec 31, 2014
Sales	19,893,000	18,329,700	16,882,400	20,563,100	19,913,800
Cost of sales	(8,785,900)	(8,137,200)	(7,547,800)	(9,800,600)	(9,471,300)
Gross profit	11,107,100	10,192,500	9,334,600	10,762,500	10,442,500
Selling, general and administrative expenses	(6,472,100)	(6,042,500)	(5,608,600)	(6,054,300)	(5,697,000)
Research and development expenses	(1,231,200)	(1,128,800)	(975,100)	(1,239,100)	(1,314,200)
Operating costs	(7,703,300)	(7,171,300)	(6,583,700)	(7,293,400)	(7,011,200)
Operating profit	3,403,800	3,021,200	2,750,900	3,469,100	3,431,300
Other income, net	37,200	72,800	223,400	12,400	156,500
Loss on early extinguishment of borrowings	—	—	(178,800)	—	—
Interest expense	(157,400)	(162,700)	(184,400)	(162,800)	(122,700)
Interest income	9,200	7,500	200	5,300	16,700
Nonoperating income (expense)	(111,000)	(82,400)	(139,600)	(145,100)	50,500
Earnings from continuing operations before income taxes	3,292,800	2,938,800	2,611,300	3,324,000	3,481,800
Income taxes	(641,900)	(469,000)	(457,900)	(725,300)	(883,400)
Net earnings from continuing operations	2,650,900	2,469,800	2,153,400	2,598,700	2,598,400
Earnings from discontinued operations, net of income taxes	—	22,300	400,300	758,700	—
Net earnings	2,650,900	2,492,100	2,553,700	3,357,400	2,598,400

Based on: 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-21), 10-K (filing date: 2017-02-22), 10-K (filing date: 2016-02-24), 10-K (filing date: 2015-02-25).

Item	Description	The company
Sales	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	Danaher Corp.’s sales increased from 2016 to 2017 and from 2017 to 2018.
Operating profit	The net result for the period of deducting operating expenses from operating revenues.	Danaher Corp.’s operating profit increased from 2016 to 2017 and from 2017 to 2018.
Earnings from continuing operations before income taxes	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	Danaher Corp.’s earnings from continuing operations before income taxes increased from 2016 to 2017 and from 2017 to 2018.
Net earnings	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Danaher Corp.’s net earnings declined from 2016 to 2017 but then increased from 2017 to 2018 exceeding 2016 level.