Other operating expenses

[Table of Contents](#ia72a687f7b8a4bb1b43219ab5b663314_7)DANAHER CORPORATION AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF EARNINGS($ and shares in millions, except per share amounts)

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|   | Year Ended December 31 |  |
|   | 2021 |  | 2020 |  | 2019 |  |
| Sales | $ | 29,453  |  |  | $ | 22,284  |  |  | $ | 17,911  |  |  |
| Cost of sales | (11,501) |  |  | (9,809) |  |  | (7,927) |  |  |
| Gross profit | 17,952  |  |  | 12,475  |  |  | 9,984  |  |  |
| Operating costs: |  |  |  |  |  |  |
| Selling, general and administrative expenses | (8,198) |  |  | (6,896) |  |  | (5,589) |  |  |
| Research and development expenses | (1,742) |  |  | (1,348) |  |  | (1,126) |  |  |
| Other operating expenses | (547) |  |  | —  |  |  | —  |  |  |
| Operating profit | 7,465  |  |  | 4,231  |  |  | 3,269  |  |  |
| Nonoperating income (expense): |  |  |  |  |  |  |
| Other income (expense), net | 456  |  |  | 494  |  |  | 12  |  |  |
|  |  |  |  |  |  |  |
| Loss on early extinguishment of borrowings | (96) |  |  | (26) |  |  | (7) |  |  |
| Interest expense | (238) |  |  | (275) |  |  | (108) |  |  |
| Interest income | 11  |  |  | 71  |  |  | 139  |  |  |
| Earnings from continuing operations before income taxes | 7,598  |  |  | 4,495  |  |  | 3,305  |  |  |
| Income taxes | (1,251) |  |  | (849) |  |  | (873) |  |  |
| Net earnings from continuing operations | 6,347  |  |  | 3,646  |  |  | 2,432  |  |  |
| Earnings from discontinued operations, net of income taxes | 86  |  |  | —  |  |  | 576  |  |  |
| Net earnings | 6,433  |  |  | 3,646  |  |  | 3,008  |  |  |
| Mandatory convertible preferred stock dividends | (164) |  |  | (136) |  |  | (68) |  |  |
| Net earnings attributable to common stockholders | $ | 6,269  |  |  | $ | 3,510  |  |  | $ | 2,940  |  |  |
|  |  |  |  |  |  |  |
| Net earnings per common share from continuing operations: |  |  |  |  |  |  |
| Basic | $ | 8.65  |  |  | $ | 4.97  |  |  | $ | 3.31  |  |  |
| Diluted | $ | 8.50  |  |  | $ | 4.89  |  |  | $ | 3.26  |  |  |
| Net earnings per common share from discontinued operations: |  |  |  |  |  |  |
| Basic | $ | 0.12  |  |  | $ | —  |  |  | $ | 0.81  |  |  |
| Diluted | $ | 0.12  |  |  | $ | —  |  |  | $ | 0.79  |  |  |
| Net earnings per common share: |  |  |  |  |  |  |
| Basic | $ | 8.77  |  |  | $ | 4.97  |  |  | $ | 4.11  |  | \* |
| Diluted | $ | 8.61  |  | \* | $ | 4.89  |  |  | $ | 4.05  |  |  |
| Average common stock and common equivalent shares outstanding: |  |  |  |  |  |  |
| Basic | 714.6  |  |  | 706.2  |  |  | 715.0  |  |  |
| Diluted | 736.8  |  |  | 718.7  |  |  | 725.5  |  |  |

\*    Net earnings per common share amount does not add due to rounding.See the accompanying Notes to the Consolidated Financial Statements.63
