Income Statement
Quarterly Data

The income statement presents information on the financial results of a company 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 (quarterly data)

US$ in millions

3 months ended:	Jun 27, 2025	Mar 28, 2025	Dec 31, 2024	Sep 27, 2024	Jun 28, 2024	Mar 29, 2024	Dec 31, 2023	Sep 29, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jul 1, 2022	Apr 1, 2022	Dec 31, 2021	Oct 1, 2021	Jul 2, 2021	Apr 2, 2021	Dec 31, 2020	Oct 2, 2020	Jul 3, 2020	Apr 3, 2020
Sales	5,936)	5,741)	6,538)	5,798)	5,743)	5,796)	6,405)	5,624)	5,912)	5,949)	8,369)	7,663)	7,751)	7,688)	8,148)	7,229)	7,218)	6,858)	6,760)	5,883)	5,297)	4,343)
Cost of sales	(2,413)	(2,230)	(2,648)	(2,397)	(2,315)	(2,309)	(2,626)	(2,349)	(2,594)	(2,287)	(3,430)	(3,079)	(3,030)	(2,983)	(3,205)	(2,870)	(2,821)	(2,605)	(2,806)	(2,658)	(2,445)	(1,900)
Gross profit	3,523)	3,511)	3,890)	3,401)	3,428)	3,487)	3,779)	3,275)	3,318)	3,662)	4,939)	4,584)	4,721)	4,705)	4,943)	4,359)	4,397)	4,253)	3,954)	3,226)	2,853)	2,443)
Selling, general and administrative expenses	(2,360)	(1,858)	(2,023)	(2,060)	(1,869)	(1,807)	(2,035)	(1,728)	(1,794)	(1,772)	(2,190)	(2,149)	(2,085)	(2,092)	(2,294)	(2,062)	(1,966)	(1,876)	(1,957)	(1,795)	(1,685)	(1,458)
Research and development expenses	(403)	(379)	(442)	(383)	(391)	(368)	(407)	(362)	(361)	(373)	(453)	(420)	(431)	(441)	(495)	(441)	(426)	(380)	(396)	(343)	(323)	(287)
Other operating expenses	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(547)	—)	—)	—)	—)	—)	—)
Operating costs	(2,763)	(2,237)	(2,465)	(2,443)	(2,260)	(2,175)	(2,442)	(2,090)	(2,155)	(2,145)	(2,643)	(2,569)	(2,516)	(2,533)	(2,789)	(3,050)	(2,392)	(2,256)	(2,353)	(2,138)	(2,008)	(1,745)
Operating profit	760)	1,274)	1,425)	958)	1,168)	1,312)	1,337)	1,185)	1,163)	1,517)	2,296)	2,015)	2,205)	2,172)	2,154)	1,309)	2,005)	1,997)	1,601)	1,088)	845)	698)
Other income (expense), net	(42)	(79)	(63)	102)	(59)	(36)	(137)	(47)	(15)	24)	(68)	(51)	(87)	(20)	82)	137)	97)	140)	35)	6)	454)	(2)
Loss on early extinguishment of borrowings	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(96)	—)	—)	—)	(26)	—)	—)	—)
Interest expense	(71)	(72)	(61)	(87)	(65)	(65)	(85)	(70)	(65)	(66)	(64)	(42)	(51)	(54)	(56)	(62)	(62)	(58)	(72)	(77)	(79)	(47)
Interest income	8)	6)	14)	4)	39)	60)	117)	79)	59)	48)	29)	9)	2)	1)	1)	3)	3)	4)	3)	4)	1)	63)
Nonoperating income (expense)	(105)	(145)	(110)	19)	(85)	(41)	(105)	(38)	(21)	6)	(103)	(84)	(136)	(73)	(69)	78)	38)	86)	(60)	(66)	376)	14)
Earnings before income taxes	655)	1,129)	1,315)	977)	1,083)	1,271)	1,232)	1,147)	1,142)	1,523)	2,193)	1,931)	2,069)	2,099)	2,085)	1,387)	2,043)	2,083)	1,542)	1,022)	1,221)	711)
Income taxes	(100)	(175)	(229)	(159)	(176)	(183)	(111)	(207)	(222)	(283)	39)	(359)	(389)	(374)	(297)	(229)	(344)	(381)	(301)	(138)	(294)	(116)
Net earnings from continuing operations	555)	954)	1,086)	818)	907)	1,088)	1,121)	940)	920)	1,240)	2,232)	1,572)	1,680)	1,725)	1,788)	1,158)	1,699)	1,702)	1,240)	884)	927)	595)
Earnings from discontinued operations, net of income taxes	—)	—)	—)	—)	—)	—)	(42)	189)	186)	210)	—)	—)	—)	—)	—)	—)	86)	—)	—)	—)	—)	—)
Net earnings	555)	954)	1,086)	818)	907)	1,088)	1,079)	1,129)	1,106)	1,450)	2,232)	1,572)	1,680)	1,725)	1,788)	1,158)	1,785)	1,702)	1,240)	884)	927)	595)
Mandatory convertible preferred stock dividends	—)	—)	—)	—)	—)	—)	—)	—)	—)	(21)	(22)	(21)	(22)	(41)	(41)	(41)	(41)	(41)	(41)	(41)	(35)	(20)
Net earnings attributable to common stockholders	555)	954)	1,086)	818)	907)	1,088)	1,079)	1,129)	1,106)	1,429)	2,210)	1,551)	1,658)	1,684)	1,747)	1,117)	1,744)	1,661)	1,199)	842)	893)	576)

Sales: Sales exhibited a general upward trend from April 2020 to December 2021, increasing from $4,343 million to $8,148 million. However, starting from April 2022, sales showed considerable fluctuations, with decreases in certain quarters such as March 2023 and June 2023, before rebounding moderately by December 2024. Overall, sales remained somewhat volatile in the later periods but generally maintained levels above the early 2020 figures.
Cost of Sales: The cost of sales increased steadily through 2020 and 2021, peaking at $3,430 million in December 2021. Thereafter, costs remained elevated but showed volatility, with some quarters registering decreases. The cost trends closely mirrored sales patterns, indicating a consistent gross margin relationship over time.
Gross Profit: Gross profit grew significantly from $2,443 million in April 2020 to a peak near $4,943 million in December 2021, reflecting improved operational performance or pricing power. Post-2021, gross profit showed fluctuations, with notable declines during early 2023 but a partial recovery toward the end of 2024. Despite volatility, gross profit levels stayed relatively strong compared to the base period.
Selling, General and Administrative Expenses (SG&A): SG&A expenses increased steadily through 2021, reaching $2,294 million in December 2021. From 2022 onwards, these expenses fluctuated without a clear upward or downward trajectory, ranging between approximately $1,772 million and $2,360 million. This indicates some control over administrative costs in proportion to sales variability.
Research and Development Expenses (R&D): R&D expenses steadily rose from $287 million in April 2020 to a peak of $495 million in December 2021. Subsequently, R&D spending remained relatively stable, with minor quarterly fluctuations generally between $360 million and $450 million, suggesting sustained investment in innovation despite other financial pressures.
Operating Costs: Operating costs exhibited growth until late 2021, reaching a high of $3,050 million in October 2021, partly influenced by an unusually high one-time expense labeled as "Other operating expenses" in Q3 2021 of $547 million. Post-2021, operating costs show a variable but generally elevated pattern marked by periodic decreases and increases, indicative of periodic cost management efforts and external cost factors.
Operating Profit: Operating profit showed a strong growth trend from $698 million in Q2 2020 to a peak of $2,296 million in December 2022. Thereafter, profits experienced a declining trend with fluctuations, falling to as low as $760 million by December 2025. This decreasing pattern toward the later periods implies pressures on operating efficiency or increasing costs relative to revenue.
Non-Operating Items: Non-operating income (expense) was inconsistent, with gains and losses alternating across periods. Notable positive spikes occurred mid-2020 and late 2021, whereas early 2022 and late 2024 periods reflected losses. Interest expense remained relatively stable, with slight reductions in recent years. Interest income increased significantly from 2022 to 2024, possibly reflecting improved cash management or investment returns. A loss due to early extinguishment of borrowings was recorded in December 2020 and December 2021, likely impacting net finance costs in those periods.
Earnings Before Income Taxes: EBIT showed growth between 2020 and 2021, reaching over $2 billion per quarter, with peaks in late 2022. Beyond this, earnings before taxes experienced volatility and a generally declining trend by late 2024 and 2025, aligning with reduced operating profit and mixed non-operating results.
Income Taxes: Income tax expenses varied significantly, with some quarters showing negative values (tax benefits). Taxes appeared to follow pretax earnings movements but displayed some irregularities, particularly in late 2022 when income taxes were a positive $39 million, possibly due to tax adjustments or credits.
Net Earnings from Continuing Operations: Net earnings from continuing operations showed substantial growth from $595 million in April 2020 to a peak over $2,200 million in December 2022. Afterward, earnings declined and fluctuated, with a trend toward lower profitability in 2024 and 2025. This aligns with the operating and tax expense patterns, reflecting pressure on net margins in recent periods.
Earnings from Discontinued Operations: This line item appears intermittently, contributing positively in mid-2021 and early 2023 but with a negative impact in December 2023. The fluctuations suggest non-recurring effects and disposal-related gains or losses that sporadically affect overall net earnings.
Net Earnings: Overall net earnings followed a trajectory similar to net earnings from continuing operations, showing increases through late 2022 before a decline in 2023 and subsequent volatility. The pattern reflects core operational results supplemented by inconsistent discontinued operations impacts.
Mandatory Convertible Preferred Stock Dividends: Dividends associated with mandatory convertible preferred stock were generally consistent until late 2022, after which data are missing or discontinued, which may indicate changes in capital structure or reclassification.
Net Earnings Attributable to Common Stockholders: The earnings attributable to common stockholders closely followed the net earnings trends, reaching peaks in late 2022 followed by declines and fluctuations through 2024 and 2025. This reflects the combined effects of operational performance, tax, non-operating income, and capital structure impacts.

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Danaher Corp. (NYSE:DHR)

Income Statement Quarterly Data

Income Statement
Quarterly Data