Cash Flow Statement
Quarterly Data
The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.
The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.
Paying user area
Try for free
Danaher Corp. pages available for free this week:
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to Danaher Corp. for $24.99.
This is a one-time payment. There is no automatic renewal.
We accept:
Danaher Corp., consolidated cash flow statement (quarterly data)
US$ in millions
Based on: 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-26), 10-Q (reporting date: 2025-06-27), 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).
The financial information reveals fluctuating cash flows over the analyzed period, spanning from April 2021 to December 2025. Net earnings demonstrate considerable variability, beginning at $1,702 million in April 2021, peaking at $2,232 million in December 2021, and declining to $555 million in June 2025. Noncash items consistently contribute significantly to overall cash flow, generally ranging between $465 million and $1,178 million per quarter. Operating activities consistently provide the largest source of cash, though the amount fluctuates considerably.
- Operating Activities
- Net cash provided by operating activities generally remained positive throughout the period, ranging from a low of $1,447 million to a high of $2,541 million. However, a notable decrease is observed in the latter half of the period, with values falling below $2,000 million in several quarters. Changes in operating capital show significant volatility, with substantial negative impacts in certain periods, particularly in the earlier quarters and again in late 2024 and early 2025. Fluctuations in trade accounts receivable, inventories, and accrued expenses appear to be primary drivers of these changes.
- Investing Activities
- Cash used in investing activities is consistently negative, indicating ongoing investment. A particularly large outflow of approximately $10,048 million occurred in October 2021, likely related to significant acquisitions. Throughout the remainder of the period, outflows generally ranged between $400 million and $900 million per quarter, with a substantial outflow of $6,017 million in September 2023. Proceeds from sales of investments and property, plant, and equipment provide some offset, but are considerably smaller in magnitude.
- Financing Activities
- Cash flow from financing activities exhibits substantial variation. A significant inflow of $3,305 million occurred in October 2021, likely due to borrowing activities. However, several quarters show substantial cash outflows, notably in June 2024 with an outflow of $5,715 million, largely attributable to repurchase of common stock. Payments for repurchase of common stock are a recurring significant outflow, particularly in the latter half of the period. Net proceeds from borrowings also contribute significantly to financing cash flow, though with considerable fluctuation.
- Discontinued Operations
- Discontinued operations show both cash provided and used, with a large distribution of $2,600 million in September 2023. The impact of discontinued operations on cash flow is notable, particularly in the quarters where they are reported. Net earnings from continuing operations are consistently positive, but are impacted by occasional losses from discontinued operations.
- Other Notable Items
- Amortization of intangible assets remains consistently high throughout the period, generally between $360 million and $433 million per quarter. Stock-based compensation expense also shows a generally increasing trend, peaking at $101 million in July 2022 and $96 million in June 2023. Investment gains and losses are variable, with significant gains in some quarters and losses in others. Impairment charges are relatively low for most of the period, but increase substantially in September 2023 and December 2023. Exchange rate changes have a noticeable impact on cash and equivalents, fluctuating between positive and negative values.
Overall, the company demonstrates a capacity to generate cash from operations, but this is frequently offset by substantial investments and financing activities, particularly share repurchases. The significant fluctuations in cash flow across all three activities suggest a dynamic financial strategy and sensitivity to external factors.