Stock Analysis on Net

Danaher Corp. (NYSE:DHR)

Balance Sheet: Liabilities and Stockholders’ Equity 

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

Danaher Corp., consolidated balance sheet: liabilities and stockholders’ equity

US$ in millions

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Notes payable and current portion of long-term debt 505 1,695 591 8 11
Trade accounts payable 1,753 1,766 2,296 2,569 2,049
Compensation and benefits 1,101 1,127 1,375 1,371 1,393
Pension and postretirement benefits 56 57 59 72 69
Taxes, income and other 568 582 691 707 552
Contract liabilities 1,299 1,465 1,648 1,613 1,212
Sales and product allowances 185 155 198 221 200
Current operating lease liabilities 173 180 199 207 189
Cross-currency swap derivative liabilities 622
Contract settlement financing payable 75 75 75 75
Other 1,083 1,172 1,257 1,297 1,105
Accrued expenses and other liabilities 4,540 4,813 5,502 5,563 5,342
Current liabilities 6,798 8,274 8,389 8,140 7,402
Compensation and benefits 289 254 255 269 178
Pension and postretirement benefits 560 544 506 876 1,502
Taxes, income and other 3,138 3,428 4,213 4,750 4,951
Contract liabilities 232 249 235 213 205
Sales and product allowances 6 6 6 2 2
Long-term operating lease liabilities 968 954 863 889 785
Contract settlement financing payable 287 354 420 481
Other 214 228 287 219 166
Other long-term liabilities 5,694 6,017 6,785 7,699 7,789
Long-term debt, excluding current portion 15,500 16,707 19,086 22,168 21,193
Long-term liabilities 21,194 22,724 25,871 29,867 28,982
Total liabilities 27,992 30,998 34,260 38,007 36,384
Preferred stock, no par value 1,668 3,268 3,268
Common stock, $0.01 par value 9 9 9 9 9
Additional paid-in capital 16,727 16,170 12,072 10,090 9,698
Treasury stock (8,163) (2,019)
Retained earnings 44,188 41,074 39,205 32,827 27,159
Accumulated other comprehensive loss (3,218) (1,748) (2,872) (1,027) (368)
Total Danaher stockholders’ equity 49,543 53,486 50,082 45,167 39,766
Noncontrolling interests 7 4 8 10 11
Total stockholders’ equity 49,550 53,490 50,090 45,177 39,777
Total liabilities and stockholders’ equity 77,542 84,488 84,350 83,184 76,161

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).


An analysis of the annual financial data reveals several important trends in the company's liabilities and stockholders’ equity over the five-year period from 2020 to 2024.

Current Liabilities
The total current liabilities showed an initial increase from 7,402 million USD in 2020 to a peak of 8,389 million USD in 2022, followed by a slight decline to 6,798 million USD by 2024. Notably, the "Notes payable and current portion of long-term debt" experienced a significant surge in 2022 (591 million USD) and further escalated in 2023 (1,695 million USD) before sharply decreasing to 505 million USD in 2024. Trade accounts payable decreased steadily from 2,569 million USD in 2021 to 1,753 million USD in 2024. Compensation and benefits related to current liabilities declined consistently from 1,393 million USD in 2020 to 1,101 million USD in 2024, suggesting improved cost control or operational changes.
Other Current Liabilities
Items such as accrued expenses and other liabilities rose moderately from 5,342 million USD in 2020 to 5,563 million USD in 2021, then trended down to 4,540 million USD in 2024. Contract liabilities peaked at 1,648 million USD in 2022 before decreasing gradually. The absence of cross-currency swap derivative liabilities data from 2021 onward limits full trend assessment in this category.
Long-Term Liabilities
Long-term liabilities, including long-term debt less the current portion, showed a declining trend from 28,982 million USD in 2020 to 21,194 million USD in 2024. Long-term debt specifically decreased consistently, dropping from 21,193 million USD in 2020 to 15,500 million USD by 2024. Similarly, other long-term liabilities fell from 7,789 million USD in 2020 to 5,694 million USD in 2024, indicating debt repayment and possible refinancing activities.
Total Liabilities
The total liabilities followed a declining trajectory from a high of 38,007 million USD in 2021 to 27,992 million USD in 2024. This reflects the overall reduction in both current and long-term obligations.
Stockholders’ Equity
Stockholders’ equity exhibited growth from 39,777 million USD in 2020, peaking at 53,490 million USD in 2023 before declining to 49,550 million USD in 2024. Retained earnings increased consistently throughout the period, reaching 44,188 million USD in 2024, which implies profitable operations contributing to earnings retention. Additional paid-in capital also rose significantly, notably between 2021 and 2024, indicating capital infusions or stock-based compensation. The accumulated other comprehensive loss deepened overall, indicating increased unrealized losses or valuation adjustments affecting equity negatively. Treasury stock increased sharply as a negative balance in later years, particularly in 2023 and 2024, which could reflect substantial share repurchases.
Balance Sheet Total
The combined total of liabilities and stockholders’ equity fluctuated, rising from 76,161 million USD in 2020 to a high of 84,488 million USD in 2023, then contracting to 77,542 million USD by 2024, driven mainly by changes in equity and liabilities.