Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

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 (quarterly data)

US$ in millions

	Dec 31, 2025	Sep 26, 2025	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
Notes payable and current portion of long-term debt	2)	23)	502)	501)	505)	1,200)	701)	1,746)	1,695)	2,547)	1,590)	1,571)	591)	705)	10)	10)	8)	7)	23)	10)
Trade accounts payable	1,844)	1,698)	1,725)	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)
Accrued expenses and other liabilities	4,961)	4,603)	4,565)	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)
Current liabilities	6,807)	6,324)	6,792)	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)
Other long-term liabilities	5,700)	5,660)	5,633)	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)
Long-term debt, excluding current portion	18,416)	16,833)	16,853)	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)
Long-term liabilities	24,116)	22,493)	22,486)	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)
Total liabilities	30,923)	28,817)	29,278)	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)
Preferred stock, no par value	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	1,668)	1,668)	1,668)	1,668)	3,268)	3,268)	3,268)	3,268)	3,268)
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)
Additional paid-in capital	17,194)	17,076)	16,960)	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)
Treasury stock	(11,353)	(11,344)	(9,305)	(9,306)	(8,163)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Retained earnings	46,891)	45,920)	45,239)	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)
Accumulated other comprehensive loss	(207)	(590)	(569)	(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)
Total Danaher stockholders’ equity	52,534)	51,071)	52,334)	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)
Noncontrolling interests	7)	9)	8)	8)	7)	6)	5)	5)	4)	8)	8)	8)	8)	8)	7)	6)	10)	10)	10)	11)
Total stockholders’ equity	52,541)	51,080)	52,342)	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)
Total liabilities and stockholders’ equity	83,464)	79,897)	81,620)	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)

An examination of the balance sheet reveals notable shifts in liabilities and stockholders’ equity over the observed period, spanning from April 2021 to June 2025. Overall, total liabilities and stockholders’ equity demonstrate fluctuation, peaking in September 2025 before decreasing slightly by December 2025.

Current Liabilities: Current liabilities generally increased from April 2021 through September 2023, reaching a high of 9,367 US$ in millions. A significant decrease is then observed in March 2024, falling to 6,701 US$ in millions, followed by a period of moderate fluctuation. By June 2025, current liabilities stood at 6,807 US$ in millions, indicating a partial recovery but remaining below the peak levels. Trade accounts payable represent the largest component of current liabilities, exhibiting a relatively stable pattern with some decline towards the end of the period.
Long-Term Liabilities: Long-term liabilities, encompassing both other long-term liabilities and long-term debt excluding current portion, show a more complex pattern. From April 2021 to October 2021, there was an increase, followed by a decline through September 2022. A subsequent rise is observed through December 2022, before a more pronounced decrease beginning in March 2023. Long-term debt, excluding the current portion, experienced a substantial reduction from 2022 to 2024, before increasing again in 2025. The notes payable and current portion of long-term debt remained relatively low until a significant increase in September 2022, followed by a decrease in subsequent periods.
Stockholders’ Equity: Total stockholders’ equity exhibited an upward trend from April 2021 to December 2022, reaching 50,090 US$ in millions. A decrease is then noted in March 2024, coinciding with the reduction in current liabilities. Retained earnings consistently represent the largest portion of stockholders’ equity, demonstrating growth throughout most of the period, with a slight dip in March 2024. Treasury stock shows a negative balance beginning in March 2024, indicating share repurchases. Accumulated other comprehensive loss remains negative throughout the period, with fluctuations in magnitude. Preferred stock remained constant until a reduction in preferred stock in July 2022.
Total Liabilities: Total liabilities mirrored the trends observed in current and long-term liabilities, peaking in September 2023 and then decreasing. The decrease in total liabilities from September 2023 to December 2024 is substantial, driven primarily by reductions in long-term debt. The ratio of liabilities to stockholders’ equity fluctuated, generally decreasing from a high in September 2023 to a lower level by December 2025.

In summary, the company experienced a period of growth in both liabilities and equity, followed by a strategic reduction in liabilities, particularly long-term debt, in late 2023 and 2024. Share repurchases, as indicated by the treasury stock balance, also contributed to changes in the equity structure. The overall financial position appears to be stabilizing, with a moderate level of liabilities relative to equity by the end of the observed period.

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Danaher Corp. (NYSE:DHR)

Balance Sheet: Liabilities and Stockholders’ Equity Quarterly Data

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data