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Item 16. FORM 10-K SUMMARY

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Item 16. FORM 10-K SUMMARY

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DANAHER CORPORATION

INDEX TO FINANCIAL STATEMENTS, SUPPLEMENTARY DATA AND FINANCIAL STATEMENT SCHEDULE

Page Number in Form 10-K
Schedule:
Valuation and Qualifying Accounts112

EXHIBIT INDEX

Exhibit NumberDescription
3.1Restated Certificate of Incorporation of Danaher CorporationIncorporated by reference from Exhibit 3.1 to Danaher Corporation’s Quarterly Report on Form 10-Q for the quarter ended June 29, 2012
3.2Amended and Restated By-laws of Danaher CorporationIncorporated by reference from Exhibit 3.1 to Danaher Corporation’s Current Report on Form 8-K filed September 10, 2025
4.1Senior Indenture dated as of December 11, 2007 by and between Danaher Corporation and The Bank of New York Mellon Trust Company, N.A. as trustee (“Senior Indenture”)Incorporated by reference from Exhibit 1.2 to Danaher Corporation’s Current Report on Form 8-K filed on December 11, 2007
4.2First Supplemental Indenture to Senior Indenture, dated as of September 15, 2015, by and between Danaher Corporation and The Bank of New York Mellon Trust Company, N.A. as trusteeIncorporated by reference from Exhibit 4.1 to Danaher Corporation’s Current Report on Form 8-K filed September 15, 2015
4.3Indenture dated as of July 8, 2015, by and between Danaher Corporation, as guarantor, DH Europe Finance S.a.r.l., as issuer, and The Bank of New York Mellon Trust Company, N.A. as trustee (“Danaher International Indenture”)Incorporated by reference from Exhibit 4.1 to Danaher Corporation’s Current Report on Form 8-K filed on July 8, 2015
4.4Second Supplemental Indenture to Danaher International Indenture, dated as of June 30, 2017, by and between Danaher Corporation, as guarantor, DH Europe Finance S.a.r.l., as issuer, and The Bank of New York Mellon Trust Company, N.A. as trusteeIncorporated by reference from Exhibit 4.2 to Danaher Corporation’s Current Report on Form 8-K filed on June 30, 2017
4.5Second Supplemental Indenture to Senior Indenture, dated as of July 1, 2019 between Danaher Corporation and The Bank of New York Mellon Trust Company, N.A., as trusteeIncorporated by reference from Exhibit 4.2 to Danaher Corporation’s Post-Effective Amendment No. 1 to Registration Statement on Form S-3 filed July 10, 2019
4.6Third Supplemental Indenture to Senior Indenture, dated as of March 30, 2020 between Danaher Corporation and The Bank of New York Mellon Trust Company, N.A., as trusteeIncorporated by reference from Exhibit 4.3 to Danaher Corporation’s Current Report on Form 8-K filed on March 30, 2020
4.7Fourth Supplemental Indenture to Senior Indenture, dated as of October 6, 2020 between Danaher Corporation and The Bank of New York Mellon Trust Company, N.A., as trusteeIncorporated by reference from Exhibit 4.4 to Danaher Corporation’s Current Report on Form 8-K filed on October 6, 2020
4.8Fifth Supplemental Indenture to Senior Indenture, dated as of December 10, 2021 between Danaher Corporation and The Bank of New York Mellon Trust Company, N.A., as trusteeIncorporated by reference from Exhibit 4.4 to Danaher Corporation’s Current Report on Form 8-K filed on December 10, 2021
4.9Third Supplemental Indenture to Danaher International Indenture, dated as of July 1, 2019 among DH Europe Finance S.à r.l., as issuer, Danaher Corporation, as guarantor and The Bank of New York Mellon Trust Company, N.A., as trusteeIncorporated by reference from Exhibit 4.5 to Danaher Corporation’s Post-Effective Amendment No. 1 to Registration Statement on Form S-3 filed July 10, 2019
4.10Base Indenture, dated as of September 18, 2019, among DH Europe Finance II S.à r.l., as issuer, Danaher Corporation, as guarantor and The Bank of New York Mellon Trust Company, N.A., as trustee (“Danaher International II Indenture”)Incorporated by reference from Exhibit 4.1 to Danaher Corporation’s Current Report on Form 8-K filed September 18, 2019
4.11First Supplemental Indenture to Danaher International II Indenture, dated as of September 18, 2019, among DH Europe Finance II S.à r.l., as issuer, Danaher Corporation, as guarantor and The Bank of New York Mellon Trust Company, N.A., as trusteeIncorporated by reference from Exhibit 4.2 to Danaher Corporation’s Current Report on Form 8-K filed September 18, 2019
4.12Description of Securities Registered Under Section 12 of the Exchange ActIncorporated by reference from Exhibit 4.12 to Danaher Corporation’s Annual Report on Form 10-K for the year ended December 31, 2024
10.1Danaher Corporation 2007 Omnibus Incentive Plan, as amended and restated*
10.2Danaher Corporation Non-Employee Directors’ Deferred Compensation Plan, as amended, a sub-plan under the 2007 Omnibus Incentive Plan*Incorporated by reference from Exhibit 10.2 to Danaher Corporation’s Annual Report on Form 10-K for the year ended December 31, 2008
10.3Amended Form of Election to Defer under the Danaher Corporation Non-Employee Directors’ Deferred Compensation Plan*Incorporated by reference from Exhibit 10.3 to Danaher Corporation’s Annual Report on Form 10-K for the year ended December 31, 2008
10.4Form of Danaher Corporation 2007 Omnibus Incentive Plan Stock Option Agreement for Non-Employee Directors*
10.5Form of Danaher Corporation 2007 Omnibus Incentive Plan RSU Agreement for Non-Employee Directors*
10.6Form of Danaher Corporation 2007 Omnibus Incentive Plan Stock Option Agreement*
10.7Form of Danaher Corporation 2007 Omnibus Incentive Plan RSU Agreement*
10.8Form of Danaher Corporation 2007 Omnibus Incentive Plan PSU Agreement*
10.9Danaher Corporation & Subsidiaries Amended and Restated Executive Deferred Incentive Program*Incorporated by reference from Exhibit 10.3 to Danaher Corporation’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2023
10.10Amendment to Danaher Executive Deferred Incentive Program*Incorporated by reference from Exhibit 10.13 to Danaher Corporation’s Quarterly Report on Form 10-Q for the quarter ended September 29, 2023
10.11Danaher Corporation Excess Contribution Program, a sub-plan under the 2007 Omnibus Incentive Plan, as amended and restated*Incorporated by reference from Exhibit 10.1 to Danaher Corporation’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2023
10.12Amendment to Danaher Excess Contribution Program*Incorporated by reference from Exhibit 10.14 to Danaher Corporation’s Quarterly Report on Form 10-Q for the quarter ended September 29, 2023
10.13Amended and Restated Danaher Corporation Deferred Compensation Plan*Incorporated by reference from Exhibit 10.2 to Danaher Corporation’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2023
10.14Amendment to Amended and Restated Danaher Corporation Deferred Compensation Plan*Incorporated by reference from Exhibit 10.12 to Danaher Corporation’s Quarterly Report on Form 10-Q for the quarter ended September 29, 2023
10.15Danaher Corporation Senior Leader Severance Pay Plan*Incorporated by reference from Exhibit 10.1 to Danaher Corporation’s Quarterly Report on Form 10-Q for the quarter ended March 29, 2013
10.16Amended and Restated Agreement Regarding Competition and Protection of Proprietary Interests by and between Danaher Corporation and Rainer M. Blair, dated May 6, 2020*Incorporated by reference from Exhibit 10.2 to Danaher Corporation’s Current Report on Form 8-K filed May 6, 2020
10.17Letter Agreement by and between Danaher Corporation and Matthew Gugino dated July 21, 2025*Incorporated by reference from Exhibit 10.1 to Danaher Corporation’s Current Report on Form 8-K filed July 24, 2025
10.18Agreement Regarding Competition and Protection of Proprietary Interests by and between Danaher Corporation and Matthew Gugino dated July 21, 2025*Incorporated by reference from Exhibit 10.2 to Danaher Corporation’s Current Report on Form 8-K filed July 24, 2025
10.19Agreement Regarding Competition and Protection of Proprietary Interests by and between Danaher Corporation and Matthew McGrew dated November 7, 2018*Incorporated by reference from Exhibit 10.2 to Danaher Corporation’s Current Report on Form 8-K filed on November 8, 2018
10.20Agreement Regarding Competition and Protection of Proprietary Interests by and between Danaher Corporation and Jose-Carlos Gutierrez-Ramos dated February 14, 2023*Incorporated by reference from Exhibit 10.20 to Danaher Corporation’s Annual Report on Form 10-K for the year ended December 31, 2022
10.21Letter Agreement by and between Danaher Corporation and Jose-Carlos Gutierrez-Ramos dated November 23, 2020*Incorporated by reference from Exhibit 10.21 to Danaher Corporation’s Annual Report on Form 10-K for the year ended December 31, 2022
10.22Letter Agreement by and between Danaher Corporation and Julie Sawyer Montgomery dated June 3, 2024*
10.23Agreement Regarding Competition and Protection of Proprietary Interests by and between Danaher Corporation and Julie Sawyer Montgomery dated February 13, 2026*
10.24Letter Agreement by and between Danaher Corporation and Christopher P. Riley dated October 7, 2023*
10.25Agreement Regarding Competition and Protection of Proprietary Interests by and between Danaher Corporation and Christopher P. Riley dated February 12, 2026*
10.26Description of compensation arrangements for non-management directors*
10.27Management Agreement dated September 29, 2023 by and between FJ900, Inc. and Joust Capital II, LLC (1)Incorporated by reference from Exhibit 10.15 to Danaher Corporation’s Quarterly Report on Form 10-Q for the quarter ended September 29, 2023
10.28Interchange Agreement dated September 29, 2023 by and between Danaher Corporation and Joust Capital II, LLC (2)Incorporated by reference from Exhibit 10.16 to Danaher Corporation’s Quarterly Report on Form 10-Q for the quarter ended September 29, 2023
10.29Aircraft Time Sharing Agreement by and between Danaher Corporation and Rainer M. Blair, dated as of November 17, 2023* (3)Incorporated by reference from Exhibit 10.25 to Danaher Corporation’s Annual Report on Form 10-K for the year ended December 31, 2023
10.30Form of Director and Officer Indemnification AgreementIncorporated by reference from Exhibit 10.35 to Danaher Corporation’s Annual Report on Form 10-K for the year ended December 31, 2008
10.31Third Amended and Restated Credit Agreement, dated as of August 11, 2023, among Danaher Corporation, certain of its subsidiaries party thereto, Bank of America, N.A., as Administrative Agent, and the lenders referred to thereinIncorporated by reference to Exhibit 10.1 to Danaher Corporation’s Current Report on Form 8-K filed on August 15, 2023
19.1Danaher Corporation Insider Trading PolicyIncorporated by reference to Exhibit 19.1 to Danaher Corporation’s Annual Report on Form 10-K filed on February 20, 2025
21.1Subsidiaries of Registrant
22.1Subsidiary guarantors and issuers of guaranteed securities and affiliates whose securities collateralize securities of the Registrant
23.1Consent of Independent Registered Public Accounting Firm
31.1Certification of Chief Executive Officer Pursuant to Item 601(b)(31) of Regulation S-K, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2Certification of Chief Financial Officer Pursuant to Item 601(b)(31) of Regulation S-K, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1Certification of Chief Executive Officer, Pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
32.2Certification of Chief Financial Officer, Pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
97.1Danaher Corporation Clawback PolicyIncorporated by reference from Exhibit 97.1 to Danaher Corporation’s Annual Report on Form 10-K for the year ended December 31, 2023
101.INSInline XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document. (4)
101.SCHInline XBRL Taxonomy Extension Schema Document (4)
101.CALInline XBRL Taxonomy Extension Calculation Linkbase Document (4)
101.DEFInline XBRL Taxonomy Extension Definition Linkbase Document (4)
101.LABInline XBRL Taxonomy Extension Label Linkbase Document (4)
101.PREInline XBRL Taxonomy Extension Presentation Linkbase Document (4)
104Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)

Danaher is a party to additional long-term debt instruments under which, in each case, the total amount of debt authorized does not exceed 10% of the total assets of Danaher and its subsidiaries on a consolidated basis. Pursuant to paragraph 4(iii)(A) of Item 601(b) of Regulation S-K, Danaher agrees to furnish a copy of such instruments to the Securities and Exchange Commission upon request.

*Indicates management contract or compensatory plan, contract or arrangement.
(1)In accordance with Instruction 2 to Item 601(a)(4) of Regulation S-K, FJ900, Inc. (a subsidiary of Danaher) has entered into a management agreement with Stonehavens Global LLC that is substantially identical in all material respects to the form of agreement referenced as Exhibit 10.27, except as to the referenced aircraft and the name of the counterparty.
(2)In accordance with Instruction 2 to Item 601(a)(4) of Regulation S-K, Danaher Corporation or a subsidiary thereof has entered into additional interchange agreements with each of Joust Capital II, LLC and Joust Capital III, LLC that are substantially identical in all material respects to the form of agreement attached as Exhibit 10.28, except as to the referenced aircraft and, in certain cases, the name of the counterparty.
(3)In accordance with Instruction 2 to Item 601(a)(4) of Regulation S-K, Danaher Corporation has entered into an aircraft time sharing agreement with each of Matthew R. McGrew and Matthew Gugino that is substantially identical in all material respects to the form of agreement referenced as Exhibit 10.29.
(4)Attached as Exhibit 101 to this report are the following documents formatted in Inline XBRL (Inline Extensible Business Reporting Language): (i) Consolidated Balance Sheets as of December 31, 2025 and 2024, (ii) Consolidated Statements of Earnings for the years ended December 31, 2025, 2024 and 2023, (iii) Consolidated Statements of Comprehensive Income for the years ended December 31, 2025, 2024 and 2023, (iv) Consolidated Statements of Stockholders’ Equity for the years ended December 31, 2025, 2024 and 2023, (v) Consolidated Statements of Cash Flows for the years ended December 31, 2025, 2024 and 2023 and (vi) Notes to Consolidated Financial Statements.

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

DANAHER CORPORATION
Date:February 24, 2026By:/s/ RAINER M. BLAIR
Rainer M. Blair
President and Chief Executive Officer

Pursuant to the requirements of the Securities Exchange Act of 1934, this annual report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the date indicated:

Name, Title and SignatureDate
/s/ STEVEN M. RALESFebruary 24, 2026
Steven M. Rales
Chairman of the Board
/s/ MITCHELL P. RALESFebruary 24, 2026
Mitchell P. Rales
Chairman of the Executive Committee
/s/ RAINER M. BLAIRFebruary 24, 2026
Rainer M. Blair
President, Chief Executive Officer and Director
/s/ FEROZ DEWANFebruary 24, 2026
Feroz Dewan
Director
/s/ LINDA FILLERFebruary 24, 2026
Linda Filler
Director
/s/ CHARLES W. LAMANNAFebruary 24, 2026
Charles W. Lamanna
Director
/s/ TERI LISTFebruary 24, 2026
Teri List
Director
/s/ A. SHANE SANDERSFebruary 24, 2026
A. Shane Sanders
Director
/s/ JOHN T. SCHWIETERSFebruary 24, 2026
John T. Schwieters
Director
/s/ ALAN G. SPOONFebruary 24, 2026
Alan G. Spoon
Director
/s/ RAYMOND C. STEVENS, Ph.D.February 24, 2026
Raymond C. Stevens, Ph.D.
Director
/s/ ELIAS A. ZERHOUNI, M.D.February 24, 2026
Elias A. Zerhouni, M.D.
Director
/s/ MATTHEW R. MCGREWFebruary 24, 2026
Matthew R. McGrew
Executive Vice President and Chief Financial Officer
/s/ CHRISTOPHER M. BOUDAFebruary 24, 2026
Christopher M. Bouda
Vice President and Chief Accounting Officer

DANAHER CORPORATION AND SUBSIDIARIES

SCHEDULE II—VALUATION AND QUALIFYING ACCOUNTS

($ in millions)

ClassificationBalance at Beginning of Period (a)Charged to Costs & ExpensesImpact of CurrencyCharged to Other Accounts (b)Write-Offs, Write-Downs & DeductionsBalance at End of Period (a)
Year ended December 31, 2025:
Allowances deducted from asset account
Allowance for doubtful accounts$113454—(48)$114
Year ended December 31, 2024:
Allowances deducted from asset account
Allowance for doubtful accounts$12137(3)—(42)$113
Year ended December 31, 2023:
Allowances deducted from asset account
Allowance for doubtful accounts$9243—15(29)$121

(a) Amounts include allowance for doubtful accounts classified as current and noncurrent.

(b) Amounts related to businesses acquired.

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