Stock Analysis on Net

Balance Sheet: Liabilities and Stockholders’ Equity 
Quarterly Data

Danaher Corp., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

US$ in millions

Microsoft Excel
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
Notes payable and current portion of long-term debt 501 505 1,200 701 1,746 1,695 2,547 1,590 1,571 591 705 10 10 8 7 23 10 11 20 17 3,234
Trade accounts payable 1,722 1,753 1,596 1,645 1,679 1,766 1,894 1,956 2,081 2,296 2,191 2,419 2,357 2,569 2,133 1,967 1,989 2,049 1,678 1,599 1,748
Accrued expenses and other liabilities 4,422 4,540 4,543 4,355 4,353 4,813 4,926 4,858 5,078 5,502 5,106 5,127 5,180 5,563 5,117 4,835 4,825 5,342 4,340 3,984 3,483
Current liabilities 6,645 6,798 7,339 6,701 7,778 8,274 9,367 8,404 8,730 8,389 8,002 7,556 7,547 8,140 7,257 6,825 6,824 7,402 6,038 5,600 8,466
Other long-term liabilities 5,638 5,694 5,647 5,643 5,760 6,017 6,439 6,489 6,563 6,785 7,493 7,597 7,715 7,699 8,189 8,036 7,905 7,789 7,074 7,026 6,661
Long-term debt, excluding current portion 15,976 15,500 16,324 16,309 16,417 16,707 19,513 18,285 18,261 19,086 18,542 20,052 21,768 22,168 23,591 20,400 20,267 21,193 21,806 22,370 22,737
Long-term liabilities 21,614 21,194 21,971 21,952 22,177 22,724 25,952 24,774 24,824 25,871 26,035 27,649 29,483 29,867 31,780 28,436 28,172 28,982 28,880 29,396 29,398
Total liabilities 28,259 27,992 29,310 28,653 29,955 30,998 35,319 33,178 33,554 34,260 34,037 35,205 37,030 38,007 39,037 35,261 34,996 36,384 34,918 34,996 37,864
Preferred stock, no par value 1,668 1,668 1,668 1,668 3,268 3,268 3,268 3,268 3,268 3,268 3,268 3,268 1,600
Common stock, $0.01 par value 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 8
Additional paid-in capital 16,845 16,727 9,304 9,806 14,215 14,151 14,085 13,939 12,130 12,072 11,985 11,854 10,123 10,090 10,004 9,890 9,794 9,698 9,618 9,475 7,630
Treasury stock (9,306) (8,163)
Retained earnings 44,913 44,188 43,296 42,673 41,962 41,074 42,272 41,344 40,437 39,205 37,177 35,808 34,332 32,827 31,231 30,264 28,670 27,159 26,088 25,374 24,609
Accumulated other comprehensive loss (1,612) (3,218) (1,310) (2,591) (2,744) (1,748) (3,959) (3,576) (2,766) (2,872) (3,854) (2,745) (1,376) (1,027) (1,061) (675) (1,322) (368) (1,021) (1,863) (2,791)
Total Danaher stockholders’ equity 50,849 49,543 51,299 49,897 53,442 53,486 52,407 51,716 51,478 50,082 46,985 46,594 46,356 45,167 43,451 42,756 40,419 39,766 37,961 36,262 31,055
Noncontrolling interests 8 7 6 5 5 4 8 8 8 8 8 7 6 10 10 10 11 11 12 11 11
Total stockholders’ equity 50,857 49,550 51,305 49,902 53,447 53,490 52,415 51,724 51,486 50,090 46,993 46,601 46,362 45,177 43,461 42,766 40,430 39,777 37,973 36,273 31,066
Total liabilities and stockholders’ equity 79,116 77,542 80,615 78,555 83,402 84,488 87,734 84,902 85,040 84,350 81,030 81,806 83,392 83,184 82,498 78,027 75,426 76,161 72,891 71,268 68,930

Based on: 10-Q (reporting date: 2025-03-28), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-27), 10-Q (reporting date: 2024-06-28), 10-Q (reporting date: 2024-03-29), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-29), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-07-01), 10-Q (reporting date: 2022-04-01), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-01), 10-Q (reporting date: 2021-07-02), 10-Q (reporting date: 2021-04-02), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-10-02), 10-Q (reporting date: 2020-07-03), 10-Q (reporting date: 2020-04-03).


The financial data over the observed periods reveal several trends within the company’s liabilities and equity components. Starting with current liabilities, fluctuations are evident, particularly in notes payable and the current portion of long-term debt, which show significant variability with spikes in certain quarters, notably in late 2022 and early 2024. Trade accounts payable demonstrates a general decline from the peak reached around the fiscal year ending December 2021, with a gradual decrease continuing through 2024. Accrued expenses and other liabilities slightly decrease in recent periods after peaking around late 2020 and sustaining high levels through 2022 and early 2023. Overall, total current liabilities exhibit notable volatility, peaking at the end of 2023 and trending downward in subsequent quarters.

Regarding long-term liabilities, there is a consistent reduction in both other long-term liabilities and long-term debt (excluding current portions). Both categories show a downtrend from their peak values around 2020 and 2021, with notable decreases continuing steadily towards 2025. This consistent decline in long-term obligations contributes to an overall decrease in total long-term liabilities over the examined periods.

Total liabilities peak around late 2021 before demonstrating a downward trend in the subsequent fiscal years. This suggests concerted efforts toward liability management or debt reduction during more recent quarters.

Within the equity section, common stock remains stable, reflecting no significant issuance or repurchase activity. Additional paid-in capital displays growth up to late 2022, followed by a sharp decline in mid-2024, coinciding with an introduction of treasury stock entries in recent quarters, indicating share repurchases or retirements. Treasury stock balance notably increases in negative value from early 2024 onward, highlighting an active buyback program. Retained earnings exhibit a steady increase throughout the periods, signaling consistent profitability and accumulation of reserves. Accumulated other comprehensive loss fluctuates, with periods of worsening and improvement but shows considerable volatility without a clear directional trend.

Total stockholders’ equity rises steadily till the end of 2023, then shows a slight decline and increased variability into 2024, correlating with the treasury stock activity and fluctuations in other equity components. Noncontrolling interests remain minor and relatively stable throughout.

In summary, the data indicate a period of variable short-term liabilities contrasted with a clear reduction in long-term obligations. Equity has generally strengthened due to retained earnings growth, although recent share repurchase actions have partly offset this trend. The overall balance sheet portrays a company managing its liability levels actively while maintaining a solid equity base with some recent initiatives aimed at modifying its capital structure.

Current Liabilities
Show notable volatility, with erratic changes in notes payable and current debt portions, and a declining trend in trade payables.
Long-term Liabilities
Exhibit a steady decline, reflecting reduced debt and other long-term obligations over time.
Total Liabilities
Reach a peak around late 2021, followed by a general decreasing trend.
Equity Components
Common Stock
Stable across all periods.
Additional Paid-In Capital
Increases until late 2022, then decreases sharply in mid-2024.
Treasury Stock
Introduced in 2024 with growing negative balance, indicating share repurchases.
Retained Earnings
Steadily increases, showing persistent profitability.
Accumulated Other Comprehensive Loss
Fluctuates without a clear directional trend.
Total Stockholders' Equity
Strengthens generally but shows some variation and slight declines in 2024 connected to treasury stock activities.