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Cover page - USD ($) $ in Billions	12 Months Ended
Cover page - USD ($) $ in Billions	Dec. 31, 2019	Feb. 06, 2020	Jun. 28, 2019
Cover Page [Line Items]
Document type	10-K
Document annual report	true
Document period end date	Dec. 31, 2019
Document transition report	false
Entity file number	001-08089
Entity registrant name	DANAHER CORPORATION
Amendment flag	false
Document fiscal year focus	2019
Document fiscal period focus	FY
Trading symbol	DHR
Entity central index key	0000313616
Current fiscal year end date	--12-31
Entity incorporation, state or country code	DE
Entity tax identification number	59-1995548
Entity address, address line one	2200 Pennsylvania Avenue, N.W., Suite 800W
Entity address, city or town	Washington,
Entity address, state or province	DC
Entity address, postal zip code	20037-1701
City area code	202
Local phone number	828-0850
Title of 12(g) security	NONE
Entity well-known seasoned issuer	Yes
Entity voluntary filers	No
Entity current reporting status	Yes
Entity interactive data current	Yes
Entity filer category	Large Accelerated Filer
Entity small business	false
Entity emerging growth company	false
Entity shell company	false
Entity common stock, shares outstanding		696,237,113
Entity public float			$ 91.1
Common stock
Cover Page [Line Items]
Trading symbol	DHR
Title of 12(b) security	Common stock, $0.01 par value
Security exchange name	NYSE
Preferred stock
Cover Page [Line Items]
Trading symbol	DHR.PRA
Title of 12(b) security	4.75% Mandatory Convertible Preferred Stock, Series A, without par value
Security exchange name	NYSE
Floating rate senior notes due 2022
Cover Page [Line Items]
Trading symbol	DHR F 06/30/22
Title of 12(b) security	Floating Rate Senior Notes due 2022
Security exchange name	NYSE
1.7% senior notes due 2022
Cover Page [Line Items]
Trading symbol	DHR 1.7 01/04/22
Title of 12(b) security	1.700% Senior Notes due 2022
Security exchange name	NYSE
2.5% senior notes due 2025
Cover Page [Line Items]
Trading symbol	DHR 2.5 07/08/25
Title of 12(b) security	2.500% Senior Notes due 2025
Security exchange name	NYSE
0.2% senior notes due 2026
Cover Page [Line Items]
Trading symbol	DHR 0.2 03/18/26
Title of 12(b) security	0.200% Senior Notes due 2026
Security exchange name	NYSE
1.2% senior notes due 2027
Cover Page [Line Items]
Trading symbol	DHR 1.2 06/30/27
Title of 12(b) security	1.200% Senior Notes due 2027
Security exchange name	NYSE
0.45% senior notes due 2028
Cover Page [Line Items]
Trading symbol	DHR 0.45 03/18/28
Title of 12(b) security	0.450% Senior Notes due 2028
Security exchange name	NYSE
0.75% senior notes due 2031
Cover Page [Line Items]
Trading symbol	DHR 0.75 09/18/31
Title of 12(b) security	0.750% Senior Notes due 2031
Security exchange name	NYSE
1.35% senior notes due 2039
Cover Page [Line Items]
Trading symbol	DHR 1.35 09/18/39
Title of 12(b) security	1.350% Senior Notes due 2039
Security exchange name	NYSE
1.8% senior notes due 2049
Cover Page [Line Items]
Trading symbol	DHR 1.8 09/18/49
Title of 12(b) security	1.800% Senior Notes due 2049
Security exchange name	NYSE

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Current assets:
Cash and equivalents	$ 19,912.3	$ 787.8
Trade accounts receivable, less allowance for doubtful accounts of $103.7 as of December 31, 2019 and $102.5 as of December 31, 2018	3,191.4	3,029.8
Inventories	1,628.3	1,631.4
Prepaid expenses and other current assets	864.6	858.0
Current assets, discontinued operations	0.0	786.8
Total current assets	25,596.6	7,093.8
Property, plant and equipment, net	2,302.0	2,249.6
Other long-term assets	1,720.8	571.0
Goodwill	22,712.5	22,580.5
Other intangible assets, net	9,749.7	10,282.8
Other assets, discontinued operations	0.0	5,054.8
Total assets	62,081.6	47,832.5
Current liabilities:
Notes payable and current portion of long-term debt	212.4	51.8
Trade accounts payable	1,514.4	1,495.4
Accrued expenses and other liabilities	3,205.3	2,689.3
Current liabilities, discontinued operations	0.0	605.0
Total current liabilities	4,932.1	4,841.5
Other long-term liabilities	5,350.9	4,701.6
Long-term debt	21,516.7	9,688.5
Long-term liabilities, discontinued operations	0.0	374.2
Stockholders’ equity:
Preferred stock, without par value, 15.0 million shares authorized; 1.65 million shares of 4.75% Mandatory Convertible Preferred Stock, Series A, issued and outstanding as of December 31, 2019; no shares issued or outstanding as of December 31, 2018	1,599.6	0.0
Common stock - $0.01 par value, 2.0 billion shares authorized; 835.5 million issued and 695.5 million outstanding as of December 31, 2019; 817.9 million issued and 701.5 million outstanding as of December 31, 2018	8.4	8.2
Additional paid-in capital	7,564.6	5,834.3
Retained earnings	24,166.3	25,163.0
Accumulated other comprehensive income (loss)	(3,068.3)	(2,791.1)
Total Danaher stockholders’ equity	30,270.6	28,214.4
Noncontrolling interests	11.3	12.3
Total stockholders’ equity	30,281.9	28,226.7
Total liabilities and stockholders’ equity	$ 62,081.6	$ 47,832.5

Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Trade accounts receivable allowance	$ 103.7	$ 102.5
Common stock par value	$ 0.01	$ 0.01
Common stock shares authorized	2,000,000	2,000,000
Common stock shares issued	835,500	817,900
Common stock shares outstanding	695,500	701,500
Preferred stock, no par value	$ 0	$ 0
Preferred stock, shares authorized	15,000	0
Preferred stock, shares issued	1,650	0
Preferred stock, shares outstanding	1,650	0
Preferred stock, dividend rate, percentage	4.75%

Consolidated Statements Of Earnings - USD ($)
shares in Millions, $ in Millions

12 Months Ended

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Income Statement [Abstract]

Sales

$ 17,911.1

$ 17,048.5

$ 15,518.8

Cost of sales

(7,927.4)

(7,543.2)

(6,947.5)

Gross profit

9,983.7

9,505.3

8,571.3

Operating costs:

Selling, general and administrative expenses

(5,588.3)

(5,391.0)

(5,042.6)

Research and development expenses

(1,126.0)

(1,059.2)

(956.4)

Operating profit

3,269.4

3,055.1

2,572.3

Nonoperating income (expense):

Other income, net

12.0

34.5

103.5

Loss on early extinguishment of borrowings

(6.5)

0.0

Interest expense

(108.6)

(136.9)

(140.1)

Interest income

139.0

9.2

7.5

Earnings from continuing operations before income taxes

3,305.3

2,961.9

2,543.2

Income taxes

(873.0)

(555.6)

(371.0)

Net earnings from continuing operations

2,432.3

2,406.3

2,172.2

Earnings from discontinued operations, net of income taxes

575.9

244.6

319.9

Net earnings

3,008.2

2,650.9

2,492.1

MCPS dividends

(68.4)

0.0

Net earnings attributable to common stockholders

$ 2,939.8

$ 2,650.9

$ 2,492.1

Net earnings per share:

Net earnings per share from continuing operations, basic

$ 3.31

$ 3.43

$ 3.12

Net earnings per share from continuing operations, diluted

3.26

3.39

3.08

Net earnings per share from discontinued operations, basic

0.81

0.35

0.46

Net earnings per share from discontinued operations, diluted

0.79

0.34

0.45

Net earnings per share, basic

4.11

^[1]

3.78

3.58

Net earnings per share, diluted

$ 4.05

$ 3.74

^[1]

$ 3.53

Average common stock and common equivalent shares outstanding:

Basic

715.0

700.6

695.8

Diluted

725.5

710.2

706.1

[1]

Consolidated Statements Of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statement of Comprehensive Income [Abstract]
Net earnings	$ 3,008.2	$ 2,650.9	$ 2,492.1
Other comprehensive income (loss), net of income taxes:
Foreign currency translation adjustments	(75.2)	(632.2)	976.1
Pension and postretirement plan benefit adjustments	(90.4)	(12.7)	71.0
Unrealized gain (loss) on available-for-sale securities	1.2	(0.8)	(19.6)
Cash flow hedge adjustments	(112.8)	0.0	0.0
Total other comprehensive income (loss), net of income taxes	(277.2)	(645.7)	1,027.5
Comprehensive income	$ 2,731.0	$ 2,005.2	$ 3,519.6

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Consolidated Statements Of Stockholders' Equity - USD ($) $ in Millions	Total	Preferred stock	Common stock	Additional paid-in capital:	Retained earnings:	Accumulated other comprehensive income (loss):	Noncontrolling interests:
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Adoption of accounting standards					$ 0.0	$ 0.0
Balance, beginning of period at Dec. 31, 2016		$ 0.0	$ 8.1	$ 5,312.9	20,703.5	(3,021.7)	$ 74.0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of stock		0.0	0.0	0.0
Common stock-based award activity			0.0	214.1
Common stock issued in connection with acquisitions, value				0.0
Common stock issued in connection with LYONs' conversions, value				12.4
Change in noncontrolling interests				(1.2)			(64.4)
Sale of Envista Holdings Corporation common stock				0.0
Net earnings	$ 2,492.1				2,492.1
Common stock dividends declared					(389.5)
Mandatory Convertible Preferred Stock dividends declared					0.0
Tendered common stock in Exchange Offer for Envista Holdings Corporation common stock					0.0
Other comprehensive income (loss)	1,027.5					1,027.5
Activity related to Envista Holdings Corporation							0.0
Balance, end of period at Dec. 31, 2017	26,367.8	0.0	8.1	5,538.2	22,806.1	(1,994.2)	9.6
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Adoption of accounting standards					154.5	(151.2)
Issuance of stock		0.0	0.0	0.0
Common stock-based award activity			0.1	252.8
Common stock issued in connection with acquisitions, value				23.9
Common stock issued in connection with LYONs' conversions, value				19.4
Change in noncontrolling interests				0.0			2.7
Sale of Envista Holdings Corporation common stock				0.0
Net earnings	2,650.9				2,650.9
Common stock dividends declared					(448.5)
Mandatory Convertible Preferred Stock dividends declared					0.0
Tendered common stock in Exchange Offer for Envista Holdings Corporation common stock					0.0
Other comprehensive income (loss)	(645.7)					(645.7)
Activity related to Envista Holdings Corporation							0.0
Balance, end of period at Dec. 31, 2018	28,226.7	0.0	8.2	5,834.3	25,163.0	(2,791.1)	12.3
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Adoption of accounting standards					0.0	0.0
Issuance of stock		1,599.6	0.1	1,443.1
Common stock-based award activity			0.1	314.7
Common stock issued in connection with acquisitions, value				0.0
Common stock issued in connection with LYONs' conversions, value				32.5
Change in noncontrolling interests				0.0			2.3
Sale of Envista Holdings Corporation common stock				(60.0)
Net earnings	3,008.2				3,008.2
Common stock dividends declared					(484.4)
Mandatory Convertible Preferred Stock dividends declared					(68.4)
Tendered common stock in Exchange Offer for Envista Holdings Corporation common stock					(3,452.1)
Other comprehensive income (loss)	(277.2)					(277.2)
Activity related to Envista Holdings Corporation							(3.3)
Balance, end of period at Dec. 31, 2019	$ 30,281.9	$ 1,599.6	$ 8.4	$ 7,564.6	$ 24,166.3	$ (3,068.3)	$ 11.3

Consolidated Statements Of Cash Flows - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash flows from operating activities:
Net earnings	$ 3,008.2	$ 2,650.9	$ 2,492.1
Less: earnings from discontinued operations, net of income taxes	575.9	244.6	319.9
Net earnings from continuing operations	2,432.3	2,406.3	2,172.2
Noncash items:
Depreciation	564.4	562.1	538.1
Amortization	625.1	615.6	578.8
Stock-based compensation expense	158.8	138.1	127.1
Restructuring and impairment charges	0.0	1.7	49.3
Pretax gain on sales of investments	0.0	0.0	(72.8)
Change in deferred income taxes	(415.2)	(252.2)	(428.5)
Change in trade accounts receivable, net	(156.4)	(54.5)	(142.5)
Change in inventories	(21.9)	(134.4)	3.1
Change in trade accounts payable	18.1	229.6	(53.9)
Change in prepaid expenses and other assets	47.7	75.9	(12.9)
Change in accrued expenses and other liabilities	404.5	55.8	364.2
Total operating cash provided by continuing operations	3,657.4	3,644.0	3,122.2
Total operating cash provided by discontinued operations	294.2	378.0	355.6
Net cash provided by operating activities	3,951.6	4,022.0	3,477.8
Cash flows from investing activities:
Cash paid for acquisitions	(331.3)	(2,173.3)	(385.8)
Payments for additions to property, plant and equipment	(635.5)	(583.5)	(570.7)
Proceeds from sales of property, plant and equipment	12.8	6.3	32.5
Payments for purchases of investments	(241.0)	(145.9)	0.0
Proceeds from sales of investments	0.0	22.2	137.9
All other investing activities	28.9	0.3	(2.4)
Total investing cash used in continuing operations	(1,166.1)	(2,873.9)	(788.5)
Total investing cash used in discontinued operations	(72.0)	(75.5)	(54.9)
Net cash used in investing activities	(1,238.1)	(2,949.4)	(843.4)
Cash flows from financing activities:
Proceeds from the issuance of common stock in connection with stock-based compensation	130.1	96.0	68.8
Proceeds from the public offering of common stock, net of issuance costs	1,443.2	0.0	0.0
Proceeds from the public offering of preferred stock, net of issuance costs	1,599.6	0.0	0.0
Net proceeds from the sale of Envista Holdings Corporation common stock, net of issuance costs	643.4	0.0	0.0
Payment of dividends	(526.7)	(433.4)	(378.3)
Payment for purchase of noncontrolling interest	0.0	0.0	(64.4)
Net proceeds from (repayments of) borrowings (maturities of 90 days or less)	2,801.8	65.7	(3,778.5)
Proceeds from borrowings (maturities longer than 90 days)	12,112.8	0.0	1,782.1
Repayments of borrowings (maturities longer than 90 days)	(1,564.5)	(507.8)	(668.4)
Make-whole premiums to redeem borrowings prior to maturity	(6.5)	0.0	0.0
All other financing activities	(43.3)	(17.9)	(59.8)
Total financing cash provided by (used in) continuing operations	16,589.9	(797.4)	(3,098.5)
Cash distributions to Envista Holdings Corporation, net	(224.0)	0.0	0.0
Net cash provided by (used in) financing activities	16,365.9	(797.4)	(3,098.5)
Effect of exchange rate changes on cash and equivalents	45.1	(117.7)	130.7
Net change in cash and equivalents	19,124.5	157.5	(333.4)
Beginning balance of cash and equivalents	787.8	630.3	963.7
Ending balance of cash and equivalents	19,912.3	787.8	630.3
Supplemental disclosure:
Shares redeemed through the split-off of Envista Holdings Corporation	$ 3,452.1	$ 0.0	$ 0.0
Shares held as Treasury shares	22.9

Business And Summary Of Significant Accounting Policies

12 Months Ended

Dec. 31, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Business And Summary Of Significant Accounting Policies

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Business—Danaher Corporation (“Danaher” or the “Company”) designs, manufactures and markets professional, medical, industrial and commercial products and services, which are typically characterized by strong brand names, innovative technology and major market positions. As of December 31, 2019, the Company operates in three business segments: Life Sciences; Diagnostics; and Environmental & Applied Solutions.

The Company’s Life Sciences segment offers a broad range of research tools that scientists use to study the basic building blocks of life, including genes, proteins, metabolites and cells, in order to understand the causes of disease, identify new therapies and test new drugs and vaccines. The segment is also a leading provider of filtration, separation and purification technologies to the biopharmaceutical, food and beverage, medical, aerospace, microelectronics and general industrial sectors.

The Company’s Diagnostics segment offers analytical instruments, reagents, consumables, software and services that hospitals, physicians’ offices, reference laboratories and other critical care settings use to diagnose disease and make treatment decisions.

The Company’s Environmental & Applied Solutions segment offers products and services that help protect important resources and keep global food and water supplies safe. The Company’s water quality business provides instrumentation, consumables, software, services and disinfection systems to help analyze, treat and manage the quality of ultra-pure, potable, industrial, waste, ground, source and ocean water in residential, commercial, municipal, industrial and natural resource applications. The Company’s product identification business provides equipment, software, services and consumables for various color and appearance management, packaging design and quality management, packaging converting, printing, marking, coding and traceability applications for consumer, pharmaceutical and industrial products.

Refer to Notes 3 and 4 for a discussion of significant acquisitions and discontinued operations, including the disposal of the Company’s former Dental segment through the initial public offering (“IPO”) and split-off of Envista Holdings Corporation during 2019.

Accounting Principles—The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”). The Consolidated Financial Statements include the accounts of the Company and its subsidiaries. All intercompany balances and transactions have been eliminated upon consolidation. The Consolidated Financial Statements also reflect the impact of noncontrolling interests. Noncontrolling interests do not have a significant impact on the Company’s consolidated results of continuing operations, therefore earnings attributable to noncontrolling interests for continuing operations are not presented separately in the Company’s Consolidated Statements of Earnings. Earnings attributable to noncontrolling interests have been reflected in selling, general and administrative expenses and were insignificant in all periods presented. Reclassifications of certain prior year amounts have been made to conform to the current year presentation.

Use of Estimates—The preparation of these financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. The Company bases these estimates on historical experience, the current economic environment and on various other assumptions that are believed to be reasonable under the circumstances. However, uncertainties associated with these estimates exist and actual results may differ materially from these estimates.

Cash and Equivalents—The Company considers all highly liquid investments with a maturity of three months or less at the date of purchase to be cash equivalents.

Accounts Receivable and Allowances for Doubtful Accounts—All trade accounts, contract and finance receivables are reported on the accompanying Consolidated Balance Sheets adjusted for any write-offs and net of allowances for doubtful accounts. The allowances for doubtful accounts represent management’s best estimate of the credit losses expected from the Company’s trade accounts, contract and finance receivable portfolios. Determination of the allowances requires management to exercise judgment about the timing, frequency and severity of credit losses that could materially affect the provision for credit losses and, therefore, net earnings. The Company regularly performs detailed reviews of its portfolios to determine if an impairment has occurred and evaluates the collectability of receivables based on a combination of various financial and qualitative factors that may affect customers’ ability to pay, including customers’ financial condition, collateral, debt-servicing ability, past payment experience and credit bureau information. In circumstances where the Company is aware of a specific customer’s inability to meet its financial obligations, a specific reserve is recorded against amounts due to reduce the recognized receivable to the amount reasonably expected to be collected. Additions to the allowances for doubtful accounts are charged to current

period earnings, amounts determined to be uncollectible are charged directly against the allowances, while amounts recovered on previously written-off accounts increase the allowances. If the financial condition of the Company’s customers were to deteriorate, resulting in an impairment of their ability to make payments, additional reserves would be required. The Company does not believe that trade accounts receivable represent significant concentrations of credit risk because of the diversified portfolio of individual customers and geographical areas. The Company recorded $30 million, $31 million and $27 million of expense associated with doubtful accounts for the years ended December 31, 2019, 2018 and 2017, respectively.

Included in the Company’s trade accounts receivable and other long-term assets as of December 31, 2019 and 2018 are $244 million and $217 million of net aggregate financing receivables, respectively. All financing receivables are evaluated for impairment based on individual customer credit profiles.

Inventory Valuation—Inventories include the costs of material, labor and overhead. Domestic inventories are stated at the lower of cost and net realizable value primarily using the first-in, first-out (“FIFO”) method with certain businesses applying the last-in, first-out method (“LIFO”) to value inventory. Inventories held outside the United States are stated at the lower of cost or market primarily using the FIFO method.

Property, Plant and Equipment—Property, plant and equipment are carried at cost. The provision for depreciation has been computed principally by the straight-line method based on the estimated useful lives of the depreciable assets as follows:



Category		Useful Life
Buildings		30 years
Leased assets and leasehold improvements		Amortized over the lesser of the economic life of the asset or the term of the lease
Machinery and equipment		3 – 10 years
Customer-leased instruments		5 – 7 years

Estimated useful lives are periodically reviewed and, when appropriate, changes to estimates are made prospectively.

Investments—Investments over which the Company has a significant influence but not a controlling interest, are accounted for using the equity method of accounting which requires the Company to record its initial investment at cost and adjust the balance each period for the Company’s share of the investee’s income or loss and dividends paid. The Company also invests in start-up companies where the Company has neither control of nor significant influence over the investee. Beginning in 2018 with the adoption of Accounting Standards Update (“ASU”) No. 2016-01, Financial Instruments—Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities, the Company measures these non-marketable equity securities at fair value and recognizes changes in fair value in net earnings. For securities without readily available fair values, the Company has elected the measurement alternative to record these investments at cost and to adjust for impairments and observable price changes with a same or similar security from the same issuer within net earnings (the “Fair Value Alternative”). Additionally, the Company is a limited partner in a partnership that invests in start-up companies. While the partnership records these investments at fair value, the Company’s investment in the partnership is accounted for under the equity method of accounting. The Company made minority investments in non-marketable equity securities and equity method investments totaling $241 million in 2019 and $146 million in 2018, including investments in a partnership of $189 million in 2019 and $86 million in 2018. No significant realized or unrealized gains or losses were recorded in either 2019 or 2018 with respect to these investments.

Other Assets—Other assets principally include noncurrent financing receivables, noncurrent deferred tax assets and other investments.

Fair Value of Financial Instruments—The Company’s financial instruments consist primarily of cash and cash equivalents, trade accounts receivable, investments in equity securities, available-for-sale debt securities and cross-currency swaps, nonqualified deferred compensation plans, obligations under trade accounts payable and short and related long-term debt. Due to their short-term nature, the carrying values for cash and cash equivalents, trade accounts receivable and trade accounts payable approximate fair value. Refer to Note 9 for the fair values of the Company’s investments in equity securities, available-for-sale debt securities and cross-currency swaps and other obligations.

Goodwill and Other Intangible Assets—Goodwill and other intangible assets result from the Company’s acquisition of existing businesses. In accordance with accounting standards related to business combinations, goodwill is not amortized; however, certain finite-lived identifiable intangible assets, primarily customer relationships and acquired technology, are amortized over their estimated useful lives. Intangible assets with indefinite lives are not amortized. In-process research and development (“IPR&D”) is initially capitalized at fair value and when the IPR&D project is complete, the asset is considered a finite-lived

intangible asset and amortized over its estimated useful life. If an IPR&D project is abandoned, an impairment loss equal to the value of the intangible asset is recorded in the period of abandonment. The Company reviews identified intangible assets and goodwill for impairment whenever events or changes in circumstances indicate that the related carrying amounts may not be recoverable. The Company also tests intangible assets with indefinite lives and goodwill for impairment at least annually. Refer to Notes 3 and 8 for additional information about the Company’s goodwill and other intangible assets.

Revenue Recognition—On January 1, 2018, the Company adopted Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers, using the modified retrospective method for all contracts. Results for reporting periods beginning January 1, 2018 are presented under ASC 606, while prior period amounts were not adjusted and continue to be reported in accordance with the Company’s historic accounting under ASC 605, Revenue Recognition.

The Company recorded a net increase to beginning retained earnings of $3 million (including the impact attributable to discontinued operations) as of January 1, 2018 due to the cumulative impact of adopting ASC 606. The impact to beginning retained earnings was primarily driven by the capitalization of certain costs to obtain a contract, primarily sales-related commissions, partially offset by the deferral of revenue for unfulfilled performance obligations. The adoption of ASC 606 did not have a significant impact on the Company’s Consolidated Financial Statements as of and for the year ended December 31, 2018 and, as a result, comparisons of revenues and operating profit performance between periods are not affected by the adoption of this standard. Refer to Note 2 for additional disclosures required by ASC 606.

The Company derives revenues primarily from the sale of Life Sciences, Diagnostics and Environmental & Applied Solutions products and services. Revenue is recognized when control of the promised products or services is transferred to the Company’s customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those products or services (the transaction price). A performance obligation is a promise in a contract to transfer a distinct product or service to a customer and is the unit of account under ASC 606. For equipment, consumables and most software licenses sold by the Company, control transfers to the customer at a point in time. To indicate the transfer of control, the Company must have a present right to payment, legal title must have passed to the customer, the customer must have the significant risks and rewards of ownership, and where acceptance is not a formality, the customer must have accepted the product or service. The Company’s principal terms of sale are FOB Shipping Point, or equivalent, and, as such, the Company primarily transfers control and records revenue for product sales upon shipment. Sales arrangements with delivery terms that are not FOB Shipping Point are not recognized upon shipment and the transfer of control for revenue recognition is evaluated based on the associated shipping terms and customer obligations. If a performance obligation to the customer with respect to a sales transaction remains to be fulfilled following shipment (typically installation or acceptance by the customer), revenue recognition for that performance obligation is deferred until such commitments have been fulfilled. Returns for products sold are estimated and recorded as a reduction of revenue at the time of sale. Customer allowances and rebates, consisting primarily of volume discounts and other short-term incentive programs, are recorded as a reduction of revenue at the time of sale because these allowances reflect a reduction in the transaction price. Product returns, customer allowances and rebates are estimated based on historical experience and known trends. For extended warranty, service, post contract support (“PCS”), software-as-a-service (“SaaS”) and other long-term contracts, control transfers to the customer over the term of the arrangement. Revenue for extended warranty, service, PCS, SaaS and certain software licenses is recognized based upon the period of time elapsed under the arrangement. Revenue for other long-term contracts is generally recognized based upon the cost-to-cost measure of progress, provided that the Company meets the criteria associated with transferring control of the good or service over time.

Certain of the Company’s revenues relate to operating-type lease (“OTL”) arrangements. Leases are outside the scope of ASC 606 and are therefore accounted for in accordance with ASC 842, Leases (or ASC 840, Leases (“ASC 840”) prior to January 1, 2019). Equipment lease revenue for OTL agreements is recognized on a straight-line basis over the life of the lease, and the cost of customer-leased equipment is recorded within property, plant and equipment in the accompanying Consolidated Balance Sheets and depreciated over the equipment’s estimated useful life. Depreciation expense associated with the leased equipment under OTL arrangements is reflected in cost of sales in the accompanying Consolidated Statements of Earnings. The OTLs are generally not cancellable until after an initial term and may or may not require the customer to purchase a minimum number of consumables or tests throughout the contract term. The Company also enters into sales-type lease (“STL”) arrangements with customers which result in earlier recognition of equipment lease revenue as compared to an OTL.

For a contract with multiple performance obligations, the Company allocates the contract’s transaction price to each performance obligation on a relative standalone selling price basis using the Company’s best estimate of the standalone selling price of each distinct product or service in the contract. The primary method used to estimate standalone selling price is the price observed in standalone sales to customers; however, when prices in standalone sales are not available the Company may use third-party pricing for similar products or services or estimate the standalone selling price. Allocation of the transaction price is determined at the contracts’ inception.

Shipping and Handling—Shipping and handling costs are included as a component of cost of sales. Revenue derived from shipping and handling costs billed to customers is included in sales.

Advertising—Advertising costs are expensed as incurred.

Research and Development—The Company conducts research and development activities for the purpose of developing new products, enhancing the functionality, effectiveness, ease of use and reliability of the Company’s existing products and expanding the applications for which uses of the Company’s products are appropriate. Research and development costs are expensed as incurred.

Income Taxes—The Company’s income tax expense represents the tax liability for the current year, the tax benefit or expense for the net change in deferred tax liabilities and assets during the year, as well as reserves for unrecognized tax benefits and return to provision adjustments. Deferred tax liabilities and assets are determined based on the difference between the financial statement and tax basis of assets and liabilities using enacted rates expected to be in effect during the year in which the differences reverse. Deferred tax assets generally represent items that can be used as a tax deduction or credit in the Company’s tax return in future years for which the tax benefit has already been reflected on the Company’s Consolidated Statements of Earnings. The Company establishes valuation allowances for its deferred tax assets if it is more likely than not that some or all of the deferred tax asset will not be realized. Deferred tax liabilities generally represent items that have already been taken as a deduction on the Company’s tax return but have not yet been recognized as an expense in the Company’s Consolidated Statements of Earnings. The effect on deferred tax assets and liabilities due to a change in tax rates is recognized in income tax expense in the period that includes the enactment date. The Company provides for unrecognized tax benefits when, based upon the technical merits, it is “more likely than not” that an uncertain tax position will not be sustained upon examination. Judgment is required in evaluating tax positions and determining income tax provisions. The Company re-evaluates the technical merits of its tax positions and may recognize an uncertain tax benefit in certain circumstances, including when: (1) a tax audit is completed; (2) applicable tax laws change, including a tax case ruling or legislative guidance; or (3) the applicable statute of limitations expires. The Company recognizes potential accrued interest and penalties associated with unrecognized tax positions in income tax expense. Refer to Note 15 for additional information and discussion of the impact of the enactment of the Tax Cuts and Jobs Act (“TCJA”) in the United States.

Productivity Improvement and Restructuring—The Company periodically initiates productivity improvement and restructuring activities to appropriately position the Company’s cost base relative to prevailing economic conditions and associated customer demand as well as in connection with certain acquisitions. Costs associated with productivity improvement and restructuring actions can include one-time termination benefits and related charges in addition to facility closure, contract termination and other related activities. The Company records the cost of the productivity improvement and restructuring activities when the associated liability is incurred.

Foreign Currency Translation—Exchange rate adjustments resulting from foreign currency transactions are recognized in net earnings, whereas effects resulting from the translation of financial statements are reflected as a component of accumulated other comprehensive income (loss) within stockholders’ equity. Assets and liabilities of subsidiaries operating outside the United States with a functional currency other than U.S. dollars are translated into U.S. dollars using year end exchange rates and income statement accounts are translated at weighted average rates. Net foreign currency transaction gains or losses were not material in any of the years presented. The Company uses its foreign currency-denominated debt and cross-currency swap arrangements whereby existing U.S. dollar-denominated borrowings are effectively converted to foreign currency borrowings to partially hedge its net investments in foreign operations against adverse movements in exchange rates.

Derivative Financial Instruments—The Company is neither a dealer nor a trader in derivative instruments. The Company has generally accepted the exposure to transactional exchange rate movements without using derivative instruments to manage this risk, although the Company from time to time partially hedges its net investments in foreign operations against adverse movements in exchange rates through foreign currency-denominated debt and cross-currency swaps. The Company will periodically enter into foreign currency forward contracts to mitigate a portion of its foreign currency exchange risk and forward starting swaps to mitigate interest rate risk related to the Company’s debt. The Company also uses cross-currency swap derivative contracts to hedge long-term debt issuances in a foreign currency other than the functional currency of the borrower. When utilized, the derivative instruments are recorded on the Consolidated Balance Sheets as either an asset or liability measured at fair value. To the extent the derivative instrument qualifies as an effective hedge, changes in fair value are recognized in accumulated other comprehensive income (loss) in stockholders’ equity. Changes in the value of the foreign currency denominated debt and cross-currency swaps designated as hedges of the Company’s net investment in foreign operations based on spot rates are recognized in accumulated other comprehensive income (loss) in stockholders’ equity and offset changes in the value of the Company’s foreign currency denominated operations. In January 2019, the Company entered into approximately $1.9 billion of cross-currency swap derivative contracts on its U.S. dollar-denominated bonds to effectively convert the Company’s U.S. dollar-denominated bonds to obligations denominated in Danish kroner, Japanese yen, euro and

Swiss franc. In June 2019, the Company entered into interest rate swap agreements with a notional amount of $850 million. These contracts effectively fixed the interest rate for a portion of the Company’s U.S. dollar-denominated debt ultimately issued in November 2019 equal to the notional amount of the swaps to the rate specified in the interest rate swap agreements. In November 2019, the Company entered into cross-currency swap derivative contracts to effectively convert the approximately $4.0 billion of U.S. dollar-denominated bonds into euro-denominated bonds. The Company’s use of foreign currency forward contracts and forward starting swaps during 2018 and 2017 and as of the years then ended was not significant. All of these cross-currency swap derivative contracts remain outstanding as of December 31, 2019. Refer to Note 12 for additional information.

Accumulated Other Comprehensive Income (Loss)—Foreign currency translation adjustments are generally not adjusted for income taxes as they relate to indefinite investments in non-U.S. subsidiaries. The changes in accumulated other comprehensive income (loss) by component are summarized below ($ in millions). Foreign currency translation adjustments generally relate to indefinite investments in non-U.S. subsidiaries, as well as the impact from the Company’s hedges of its net investment in foreign operations, including the Company’s cross-currency swap derivatives, net of any tax impacts.



	Foreign Currency Translation Adjustments				Pension & Postretirement Plan Benefit Adjustments				Unrealized Gain (Loss) on Available-For-Sale Securities				Cash Flow Hedge Adjustments				Total
Balance, January 1, 2017	$	(2,398.2	)		$	(642.2	)		$	18.7			$	—			$	(3,021.7	)
Other comprehensive income (loss) before reclassifications:
Increase	976.1				62.4				41.7				—				1,080.2
Income tax impact	—				(13.4		)		(15.7		)		—				(29.1		)
Other comprehensive income (loss) before reclassifications, net of income taxes	976.1				49.0				26.0				—				1,051.1
Amounts reclassified from accumulated other comprehensive income (loss):
Increase (decrease)	—				28.7			^(a)	(72.8		)	^(b)	—				(44.1		)
Income tax impact	—				(6.7		)		27.2				—				20.5
Amounts reclassified from accumulated other comprehensive income (loss), net of income taxes	—				22.0				(45.6		)		—				(23.6		)
Net current period other comprehensive income (loss), net of income taxes	976.1				71.0				(19.6		)		—				1,027.5
Balance, December 31, 2017	(1,422.1		)		(571.2		)		(0.9		)		—				(1,994.2		)
Adoption of accounting standards	(43.8		)		(107.2		)		(0.2		)		—				(151.2		)
Balance, January 1, 2018	(1,465.9		)		(678.4		)		(1.1		)		—				(2,145.4		)
Other comprehensive income (loss) before reclassifications:
Decrease	(632.2		)		(44.9		)		(1.1		)		—				(678.2		)
Income tax impact	—				9.2				0.3				—				9.5
Other comprehensive income (loss) before reclassifications, net of income taxes	(632.2		)		(35.7		)		(0.8		)		—				(668.7		)
Amounts reclassified from accumulated other comprehensive income (loss):
Increase	—				30.3			^(a)	—				—				30.3
Income tax impact	—				(7.3		)		—				—				(7.3		)
Amounts reclassified from accumulated other comprehensive income (loss), net of income taxes	—				23.0				—				—				23.0
Net current period other comprehensive income (loss), net of income taxes	(632.2		)		(12.7		)		(0.8		)		—				(645.7		)
Balance, December 31, 2018	(2,098.1		)		(691.1		)		(1.9		)		—				(2,791.1		)
Other comprehensive income (loss) before reclassifications:
(Decrease) increase	(178.4		)		(149.6		)		1.6				(149.2		)		(475.6		)
Income tax impact	(5.8		)		32.0				(0.4		)		9.0				34.8
Other comprehensive income (loss) before reclassifications, net of income taxes	(184.2		)		(117.6		)		1.2				(140.2		)		(440.8		)
Amounts reclassified from accumulated other comprehensive income (loss):
Increase	109.0			^(d)	35.7			^(a)	—				27.5			^(c)	172.2
Income tax impact	—				(8.5		)		—				(0.1		)		(8.6		)
Amounts reclassified from accumulated other comprehensive income (loss), net of income taxes	109.0				27.2				—				27.4				163.6
Net current period other comprehensive income (loss), net of income taxes	(75.2		)		(90.4		)		1.2				(112.8		)		(277.2		)
Balance, December 31, 2019	$	(2,173.3	)		$	(781.5	)		$	(0.7	)		$	(112.8	)		$	(3,068.3	)


^(a)	This accumulated other comprehensive income (loss) component is included in the computation of net periodic pension and postretirement cost (refer to Notes 13 and 14 for additional details).


^(b)	Included in other income, net in the accompanying Consolidated Statement of Earnings (refer to Note 16 for additional details).

^(c) Reflects reclassification to earnings related to remeasurement of certain long-term debt (refer to Note 12 for additional details).

^(d) Reflects reclassification to earnings related to the Envista Disposition (refer to Note 4 for additional details).

Accounting for Stock-Based Compensation—The Company accounts for stock-based compensation by measuring the cost of employee services received in exchange for all equity awards granted, including stock options, restricted stock units (“RSUs”) and performance stock units (“PSUs”), based on the fair value of the award as of the grant date. Equity-based compensation expense is recognized net of an estimated forfeiture rate on a straight-line basis over the requisite service period of the award, except that in the case of RSUs, compensation expense is recognized using an accelerated attribution method. Refer to Note 19 for additional information on the stock-based compensation plans in which certain employees of the Company participate.

Pension and Postretirement Benefit Plans—The Company measures its pension and postretirement plans’ assets and its obligations that determine the respective plan’s funded status as of the end of the Company’s fiscal year, and recognizes an asset for a plan’s overfunded status or a liability for a plan’s underfunded status in its balance sheet. Changes in the funded status of the plans are recognized in the year in which the changes occur and reported in comprehensive income (loss). Refer to Notes 13 and 14 for additional information on the Company’s pension and postretirement plans including a discussion of the actuarial assumptions, the Company’s policy for recognizing the associated gains and losses and the method used to estimate service and interest cost components.

Accounting Standards Recently Adopted—In July 2018, the Financial Accounting Standards Board (“FASB”) issued ASU 2018-09, Codification Improvements. ASU 2018-09 amends an illustrative example of a fair value hierarchy disclosure to indicate that a certain type of investment should not always be considered to be eligible to use the net asset value per share practical expedient. Also, it further clarifies that an entity should evaluate whether a readily determinable fair value exists or whether its investments qualify for the net asset value per share practical expedient in accordance with ASC 820, Fair Value Measurement. ASU 2018-09 was adopted by the Company on January 1, 2019 and resulted in the reclassification of assets previously identified as common collective trusts in the fair value hierarchy. Refer to Note 13 for further information.

In August 2017, the FASB issued ASU No. 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities, which expands and refines hedge accounting for both financial and non-financial risk components, aligns the recognition and presentation of the effects of hedging instruments and hedge items in the financial statements and includes certain targeted improvements to ease the application of current guidance related to the assessment of hedge effectiveness. The ASU was effective for public entities for fiscal years beginning after December 15, 2018. In January 2019, the Company entered into approximately $1.9 billion of cross-currency swap derivative contracts to hedge its net investment in foreign operations against adverse changes in the exchange rates between the U.S. dollar and the Danish kroner, Japanese yen, euro and Swiss franc. In June 2019, the Company entered into interest rate swap agreements with a notional amount of $850 million which represents a portion of the amount of U.S. dollar-denominated bonds (with terms ranging from 10 to 30 years) the Company ultimately issued to finance a portion of the acquisition of the Biopharma Business of General Electric Company (“GE”) Life Sciences (the “GE Biopharma Business” or “GE Biopharma”). These contracts effectively fixed the interest rate for a portion of the Company’s U.S. dollar-denominated debt ultimately issued in November 2019 equal to the notional amount of the swaps to the rate specified in the interest rate swap agreements. In November 2019, the Company entered into cross-currency swap derivative contracts to effectively convert the approximately $4.0 billion of U.S. dollar-denominated bonds into euro-denominated bonds. Refer to Note 11 for additional disclosures about the Company’s debt issuances related to the pending GE Biopharma acquisition and Note 12 for additional disclosures about the Company’s hedging activities.

In May 2017, the FASB issued ASU No. 2017-09, Compensation—Stock Compensation (Topic 718): Scope of Modification Accounting, which provided clarity on which changes to the terms or conditions of share-based payment awards require an entity to apply the modification accounting provisions required in Topic 718. The adoption of this ASU on January 1, 2019 did not have a significant impact on the Company’s Consolidated Financial Statements.

In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), which requires lessees to recognize a right-of-use (“ROU”) asset and a lease liability for all leases with terms greater than 12 months and also requires disclosures by lessees and lessors about the amount, timing and uncertainty of cash flows arising from leases. The accounting applied by a lessor is largely unchanged from that applied under the prior standard. Subsequent to the issuance of Topic 842, the FASB clarified the guidance through several ASUs; hereinafter the collection of lease guidance is referred to as “ASC 842”.

On January 1, 2019, the Company adopted ASC 842 using the modified retrospective method for all lease arrangements at the beginning of the period of adoption. Results for reporting periods beginning January 1, 2019 are presented under ASC 842, while prior period amounts were not adjusted and continue to be reported in accordance with the Company’s historic accounting under ASC 840. The standard had a material impact on the Company’s Consolidated Balance Sheet but did not have a significant impact on the Company’s consolidated net earnings and cash flows. The most significant impact was the recognition of ROU assets and lease liabilities for operating leases, while the accounting for finance leases remained substantially unchanged. For leases that commenced before the effective date of ASC 842, the Company elected the permitted practical expedients to not reassess the following: (i) whether any expired or existing contracts contain leases; (ii) the lease

classification for any expired or existing leases; and (iii) initial direct costs for any existing leases. The Company also elected to include leases with a term of 12 months or less in the recognized ROU assets and lease liabilities.

As a result of the cumulative impact of adopting ASC 842, the Company recorded operating lease ROU assets of $806 million and operating lease liabilities of $838 million related to continuing operations as of January 1, 2019, primarily related to real estate and automobile leases, based on the present value of the future lease payments on the date of adoption. Refer to Note 5 for the additional disclosures required by ASC 842.

The Company determines if an arrangement is a lease at inception. For leases where the Company is the lessee, ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent an obligation to make lease payments arising from the lease. ROU assets and lease liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. As most of the Company’s leases do not provide an implicit interest rate, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The ROU asset also consists of any prepaid lease payments, lease incentives received, costs which will be incurred in exiting a lease and the amount of any asset or liability recognized on business combinations relating to favorable or unfavorable lease terms. The lease terms used to calculate the ROU asset and related lease liability include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Lease expense for operating leases is recognized on a straight-line basis over the lease term as an operating expense while the expense for finance leases is recognized as depreciation expense and interest expense using the accelerated interest method of recognition. The Company has lease agreements which require payments for lease and non-lease components and has elected to account for these as a single lease component.

The Company leases Life Sciences, Diagnostics, and Environmental & Applied Solutions equipment to customers, which requires the Company to determine whether the arrangements are OTL or STL arrangements. Equipment lease revenue for OTL agreements is recognized on a straight-line basis over the life of the lease, and the costs of customer-leased equipment are recorded within property, plant and equipment, net in the accompanying Consolidated Balance Sheets and depreciated over the equipment’s estimated useful life. Depreciation expense associated with the leased equipment under OTL arrangements is reflected in cost of sales in the accompanying Consolidated Statements of Earnings. The OTLs are generally not cancellable until after an initial term and may or may not require the customer to purchase a minimum number of consumables or tests throughout the contract term. An STL results in earlier recognition of equipment revenue as compared to an OTL. Some of the Company’s leases include a purchase option for the customer to purchase the leased asset at the end of the lease arrangement for a purchase price equal to the asset’s fair market value at the time of the purchase. The Company manages its risk on the unguaranteed residual asset for leased equipment through the pricing and term of the leases. In certain geographies, equipment coming off OTL and STL arrangements after the initial lease term may be leased to other customers or used for spare parts.

For lease arrangements with lease and non-lease components where the Company is the lessor, the Company allocates the contract’s transaction price to the lease and non-lease components on a relative standalone selling price basis using the Company’s best estimate of the standalone selling price of each distinct product or service in the contract. The primary method used to estimate standalone selling price is the price observed in standalone sales to customers; however, when prices in standalone sales are not available the Company may use third-party pricing for similar products or services or estimate the standalone selling price. Allocation of the transaction price is determined at the inception of the lease arrangement. The Company’s leases primarily consist of leases with fixed lease payments. For those leases with variable lease payments, the variable lease payment is typically based upon use of the leased equipment or the purchase of consumables used with the leased equipment.

Accounting Standards Not Yet Adopted—In August 2018, the FASB issued ASU No. 2018-14, Disclosure Framework—Changes to the Disclosure Requirements for Defined Benefit Plans, which amends ASC 715, Compensation—Retirement Benefits, to add, remove and clarify disclosure requirements related to defined benefit pension and other postretirement plans. The ASU is effective for public entities for fiscal years beginning after December 15, 2020, with early adoption permitted. Management has not yet completed its assessment of the impact of the new standard on the Company’s Consolidated Financial Statements.

In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820), which modifies the disclosures on fair value measurements by removing the requirement to disclose the amount and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy and the policy for timing of such transfers. The ASU expands the disclosure requirements for Level 3 fair value measurements, primarily focused on changes in unrealized gains and losses included in other comprehensive income (loss). The ASU is effective for public entities for fiscal years beginning after December 15, 2019, with early adoption permitted. Management has not yet completed its assessment of the impact of the new standard on the Company’s Consolidated Financial Statements.

In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which amends the impairment model by requiring entities to use a forward-looking approach based on expected losses rather than incurred losses to estimate credit losses on certain types of financial instruments, including trade receivables. This may result in the earlier recognition of allowances for losses. The ASU is effective for public entities for fiscal years beginning after December 15, 2019, with early adoption permitted. In November 2018, the FASB issued ASU No. 2018-19, Codification Improvements to Topic 326, Financial Instruments—Credit Losses, which provided additional implementation guidance on the previously issued ASU. On January 1, 2020, the Company adopted the ASU using the modified retrospective transition method. The Company recorded a net decrease to beginning retained earnings of $8 million as of January 1, 2020 due to the cumulative impact of adopting ASC 326. The impact to retained earnings was primarily the result of an increase in the Company’s allowance for doubtful accounts as a result of ASC 326’s requirement to use a forward-looking approach based on expected losses rather than incurred losses to estimate credit losses on certain types of financial instruments, including trade receivables.

Revenue

12 Months Ended

Dec. 31, 2019

Revenue from Contract with Customer [Abstract]

Revenue from Contract with Customer

REVENUE

The following table presents the Company’s revenues disaggregated by geographical region and revenue type for the years ended December 31, 2019 and 2018 ($ in millions). Sales taxes and other usage-based taxes collected from customers are excluded from revenues. The Company defines high-growth markets as developing markets of the world experiencing extended periods of accelerated growth in gross domestic product and infrastructure which include Eastern Europe, the Middle East, Africa, Latin America and Asia (with the exception of Japan, Australia and New Zealand). The Company defines developed markets as all markets of the world that are not high-growth markets.



	Life Sciences		Diagnostics		Environmental & Applied Solutions		Total
Year ended December 31, 2019
Geographical region:
North America	$	2,595.5	$	2,531.6	$	1,885.3	$	7,012.4
Western Europe	1,875.5		1,132.5		1,048.5		4,056.5
Other developed markets	585.7		401.7		124.9		1,112.3
High-growth markets	1,894.4		2,495.7		1,339.8		5,729.9
Total	$	6,951.1	$	6,561.5	$	4,398.5	$	17,911.1

Revenue type:
Recurring	$	4,411.2	$	5,524.5	$	2,371.8	$	12,307.5
Nonrecurring	2,539.9		1,037.0		2,026.7		5,603.6
Total	$	6,951.1	$	6,561.5	$	4,398.5	$	17,911.1

Year ended December 31, 2018
Geographical region:
North America	$	2,295.6	$	2,403.4	$	1,770.7	$	6,469.7
Western Europe	1,846.7		1,155.4		1,059.1		4,061.2
Other developed markets	570.0		379.1		125.7		1,074.8
High-growth markets	1,759.1		2,319.7		1,364.0		5,442.8
Total	$	6,471.4	$	6,257.6	$	4,319.5	$	17,048.5

Revenue type:
Recurring	$	4,131.8	$	5,272.0	$	2,280.0	$	11,683.8
Nonrecurring	2,339.6		985.6		2,039.5		5,364.7
Total	$	6,471.4	$	6,257.6	$	4,319.5	$	17,048.5

The Company sells equipment to customers as well as consumables, software licenses and services, some of which customers purchase on a recurring basis. Consumables sold for use with the equipment sold by the Company are typically critical to the use of the equipment and are typically used on a one-time or limited basis, requiring frequent replacement in the customer’s

operating cycle. Examples of these consumables include reagents used in diagnostic tests, filters used in filtration, separation and purification processes and cartridges for marking and coding equipment. Additionally, some of the Company’s consumables are used on a standalone basis, such as water treatment solutions. The Company separates its goods and services between those typically sold on a recurring basis and those typically sold on a nonrecurring basis. Recurring revenue includes revenue from consumables, services, software licenses recognized over time, SaaS licenses, sales-and-usage based royalties and OTLs. Nonrecurring revenue includes sales from equipment, software licenses recognized at a point in time and STLs. OTLs and STLs are included in the above revenue amounts. For the years ended December 31, 2019 and 2018, lease revenue was $432 million and $401 million, respectively.

Remaining Performance Obligations

ASC 606 requires disclosure of remaining performance obligations that represent the aggregate transaction price allocated to performance obligations with an original contract term greater than one year which are fully or partially unsatisfied at the end of the period. Remaining performance obligations include noncancelable purchase orders, the non-lease portion of minimum purchase commitments under long-term consumable supply arrangements, extended warranty, service and PCS contracts, SaaS and other long-term contracts. These remaining performance obligations do not include revenue from contracts with customers with an original term of one year or less, revenue from long-term consumable supply arrangements with no minimum purchase requirements or revenue expected from purchases made in excess of the minimum purchase requirements or revenue from equipment leased to customers. While the remaining performance obligation disclosure is similar in concept to backlog, the definition of remaining performance obligations excludes leases and contracts that provide the customer with the right to cancel or terminate for convenience with no substantial penalty, even if historical experience indicates the likelihood of cancellation or termination is remote. Additionally, the Company has elected to exclude contracts with customers with an original term of one year or less from remaining performance obligations while these contracts are included within backlog.

As of December 31, 2019, the aggregate amount of the transaction price allocated to remaining performance obligations was approximately $2.0 billion. The Company expects to recognize revenue on approximately 41% of the remaining performance obligations over the next 12 months, 26% over the subsequent 12 months, and the remainder recognized thereafter.

Contract Balances

The timing of revenue recognition, billings and cash collections results in billed trade accounts receivable, unbilled receivables (contract assets) and deferred revenue, customer deposits and billings in excess of revenue recognized (contract liabilities) on the Consolidated Balance Sheets. In addition, the Company defers certain costs incurred to obtain a contract (contract costs).

Contract assets—Most of the Company’s long-term contracts are billed as work progresses in accordance with the contract terms and conditions, either at periodic intervals or upon achievement of certain milestones. Often this results in billing occurring subsequent to revenue recognition resulting in contract assets. Contract assets are generally classified as other current assets in the Consolidated Balance Sheets. The balance of contract assets as of December 31, 2019 and 2018 was $77 million and $82 million, respectively.

Contract liabilities—The Company often receives cash payments from customers in advance of the Company’s performance resulting in contract liabilities. These contract liabilities are classified as either current or long-term in the Consolidated Balance Sheets based on the timing of when the Company expects to recognize revenue. As of December 31, 2019 and 2018, contract liabilities were $806 million and $737 million, respectively, and are included within accrued expenses and other liabilities and other long-term liabilities in the accompanying Consolidated Balance Sheets. The increase in the contract liability balance during the year ended December 31, 2019 was primarily a result of cash payments received in advance of satisfying performance obligations and acquisitions, partially offset by revenue recognized during the year that was included in the opening contract liability balance. The increase in the contract liability balance during the year ended December 31, 2018 was primarily a result of cash payments received in advance of satisfying performance obligations and acquisitions, partially offset by revenue recognized during the year that was included in the contract liability balance at the date of adoption and foreign currency exchange. Revenue recognized during the years ended December 31, 2019 and 2018 that was included in the opening contract liability balance was $603 million and $597 million, respectively.

Contract costs—The Company capitalizes certain direct incremental costs incurred to obtain a contract, typically sales-related commissions, where the amortization period for the related asset is greater than one year. These costs are amortized over the contract term or a longer period, generally the expected life of the customer relationship if renewals are expected and the renewal commission is not commensurate with the initial commission. Contract costs are classified as current or long-term other assets in the Consolidated Balance Sheets based on the timing of when the Company expects to recognize the expense and are generally amortized into earnings on a straight-line basis (which is consistent with the transfer of control for the related goods or services). Management assesses these costs for impairment at least quarterly and as “triggering” events occur that indicate it is more likely than not that an impairment exists. The balance of contract costs as of December 31, 2019 and 2018

were not significant. Amortization expense related to these costs for the years ended December 31, 2019 and 2018 was also not significant. The costs to obtain a contract where the amortization period for the related asset is one year or less are expensed as incurred and recorded within selling, general and administrative expenses in the accompanying Consolidated Statements of Earnings.

Contract assets, liabilities and costs are reported on the accompanying Consolidated Balance Sheets on a contract-by-contract basis.

Acquisitions

12 Months Ended

Dec. 31, 2019

Business Combinations [Abstract]

Acquisitions

ACQUISITIONS

The Company continually evaluates potential acquisitions that either strategically fit with the Company’s existing portfolio or expand the Company’s portfolio into a new and attractive business area. The Company has completed a number of acquisitions that have been accounted for as purchases and have resulted in the recognition of goodwill in the Company’s Consolidated Financial Statements. This goodwill arises because the purchase prices for these businesses reflect a number of factors including the future earnings and cash flow potential of these businesses, the multiple to earnings, cash flow and other factors at which similar businesses have been purchased by other acquirers, the competitive nature of the processes by which the Company acquired the businesses, the avoidance of the time and costs which would be required (and the associated risks that would be encountered) to enhance the Company’s existing product offerings to key target markets and enter into new and profitable businesses and the complementary strategic fit and resulting synergies these businesses bring to existing operations.

The Company makes an initial allocation of the purchase price at the date of acquisition based upon its understanding of the fair value of the acquired assets and assumed liabilities. The Company obtains this information during due diligence and through other sources. In the months after closing, as the Company obtains additional information about these assets and liabilities, including through tangible and intangible asset appraisals, and learns more about the newly acquired business, it is able to refine the estimates of fair value and more accurately allocate the purchase price. Only items identified as of the acquisition date are considered for subsequent adjustment. The Company is continuing to evaluate certain pre-acquisition contingencies associated with certain of its 2019 acquisitions and is also in the process of obtaining valuations of certain property, plant and equipment, acquired intangible assets and certain acquisition-related liabilities in connection with these acquisitions. The Company will make appropriate adjustments to the purchase price allocation prior to completion of the measurement period, as required.

The following briefly describes the Company’s acquisition activity for the three years ended December 31, 2019.

On February 25, 2019, the Company entered into an Equity and Asset Purchase Agreement (the “GE Biopharma Purchase Agreement”) with GE to acquire the GE Biopharma Business for a cash purchase price of approximately $21.0 billion, subject to certain adjustments, and the assumption of approximately $0.4 billion of pension liabilities (the “GE Biopharma Acquisition”). The GE Biopharma Business, to be known as Cytiva following the closing of the acquisition, is a leading provider of instruments, consumables and software that support the research, discovery, process development and manufacturing workflows of biopharmaceutical drugs. Though the timing of obtaining the final regulatory approvals necessary to close the GE Biopharma Acquisition is uncertain, the Company continues to make progress with respect thereto and expects to close the transaction in the first quarter of 2020. The acquisition is expected to provide additional sales and earnings growth opportunities for the Company’s Life Sciences segment by expanding the business’ geographic and product line diversity, including new product and service offerings that complement the Company’s current biologics workflow solutions. As a condition to obtaining certain regulatory approvals for the closing of the transaction, the Company expects it will be required to divest certain of its existing product lines that in the aggregate generated revenues of approximately $170 million in 2019.

The Company plans to finance the GE Biopharma Acquisition with approximately $3.0 billion of proceeds from the March 1, 2019 underwritten public offerings of its Common Stock and Mandatory Convertible Preferred Stock (“MCPS”), approximately $10.8 billion of proceeds from the issuance of euro-denominated and U.S. dollar-denominated long-term debt in the second half of 2019, and approximately $7.2 billion from the aggregate of proceeds from commercial paper borrowings and cash on hand. Refer to Note 11 for additional information related to the issuance of debt and to Note 19 for additional information related to the March 1, 2019 public offerings.

During 2019, the Company acquired five businesses for total consideration of $331 million in cash, net of cash acquired. The businesses acquired complement existing units of each of the Company’s three segments. The aggregate annual sales of these five businesses at the time of their acquisition, in each case based on the companies’ revenues for its last completed fiscal year prior to the acquisition, were $72 million. The Company preliminarily recorded an aggregate of $217 million of goodwill related to these acquisitions.

On April 13, 2018, the Company acquired Integrated DNA Technologies, Inc. (“IDT”), a privately-held manufacturer of custom DNA and RNA oligonucleotides serving customers in the academic and biopharmaceutical research, biotechnology, agriculture,

clinical diagnostics and pharmaceutical development end-markets, for a purchase price of approximately $2.1 billion, net of cash acquired. IDT had revenues of approximately $260 million in 2017, and is now part of the Company’s Life Sciences segment.

The Company financed the acquisition of IDT with available cash and proceeds from the issuance of commercial paper. The Company recorded approximately $1.2 billion of goodwill related to the IDT acquisition. The acquisition of IDT provides additional sales and earnings growth opportunities for the Company’s Life Sciences segment by expanding the segment’s product line diversity, including new product and service offerings in the area of genomics consumables, and through the potential future acquisition of complementary businesses.

In addition to the IDT acquisition, during 2018, the Company acquired one other business for total consideration of $95 million in cash, net of cash acquired. The business acquired complements an existing unit of the Environmental & Applied Solutions segment. The aggregate annual sales of this business at the time of its acquisition, based on the company’s revenues for its last completed fiscal year prior to the acquisition, were $53 million. The Company recorded an aggregate of $63 million of goodwill related to this acquisition.

During 2017, the Company acquired nine businesses for total consideration of $386 million in cash, net of cash acquired. The businesses acquired complement existing units of the Life Sciences and Environmental & Applied Solutions segments. The aggregate annual sales of these nine businesses at the time of their respective acquisitions, in each case based on the companies’ revenues for its last completed fiscal year prior to the acquisition, were $160 million. The Company recorded an aggregate of $265 million of goodwill related to these acquisitions.

The following summarizes the estimated fair values of the assets acquired and liabilities assumed at the date of acquisition ($ in millions):



	2019			2018			2017
Trade accounts receivable	$	9.0		$	41.1		$	21.6
Inventories	9.3			14.8			20.9
Property, plant and equipment	3.9			88.4			9.0
Goodwill	217.1			1,275.4			264.8
Other intangible assets, primarily customer relationships, trade names and technology	113.6			850.7			154.5
Trade accounts payable	(3.2		)	(6.7		)	(9.9		)
Other assets and liabilities, net	(18.4		)	(66.5		)	(75.1		)
Net assets acquired	331.3			2,197.2			385.8
Less: noncash consideration	—			(23.9		)	—
Net cash consideration	$	331.3		$	2,173.3		$	385.8

The following summarizes the estimated fair values of the assets acquired and liabilities assumed at the date of acquisition for the individually significant acquisition in 2018 discussed above, and all of the other 2018 acquisitions as a group ($ in millions):



	IDT			Others			Total
Trade accounts receivable	$	36.0		$	5.1		$	41.1
Inventories	14.8			—			14.8
Property, plant and equipment	88.2			0.2			88.4
Goodwill	1,212.6			62.8			1,275.4
Other intangible assets, primarily customer relationships, trade names and technology	811.0			39.7			850.7
Trade accounts payable	(5.5		)	(1.2		)	(6.7		)
Other assets and liabilities, net	(55.0		)	(11.5		)	(66.5		)
Net assets acquired	2,102.1			95.1			2,197.2
Less: noncash consideration	(23.9		)	—			(23.9		)
Net cash consideration	$	2,078.2		$	95.1		$	2,173.3

During 2018, the Company incurred acquisition-related transaction costs and change in control payments of $15 million associated with the IDT acquisition. In addition, the Company’s earnings for 2018 reflect the pretax impact of $1 million of nonrecurring acquisition date fair value adjustments to inventory related to the IDT acquisition.

Transaction-related costs for the anticipated GE Biopharma Acquisition were $93 million for the year ended December 31, 2019. Transaction-related costs and acquisition-related fair value adjustments attributable to other acquisitions were not material for the years ended December 31, 2019, 2018 and 2017.

Pro Forma Financial Information (Unaudited)

The unaudited pro forma information for the periods set forth below gives effect to the 2019 and 2018 acquisitions as if they had occurred as of January 1, 2018. The pro forma information is presented for informational purposes only and is not necessarily indicative of the results of operations that actually would have been achieved had the acquisitions been consummated as of that time ($ in millions except per share amounts):



	2019		2018
Sales	$	17,919.9	$	17,222.7
Net earnings from continuing operations	2,429.2		2,385.3
Diluted net earnings per share from continuing operations ^(a)	3.26		3.36

^(a) Diluted net earnings per share from continuing operations is calculated by adding the interest on the Company’s LYONs to net earnings from continuing operations and deducting the MCPS dividends from net earnings from continuing operations.

The acquisition-related transaction costs of $15 million in 2018 associated with the IDT acquisition were excluded from pro forma net earnings from continuing operations in 2018.

Discontinued Operations

12 Months Ended

Dec. 31, 2019

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

DISCONTINUED OPERATIONS

Envista Separation

On September 20, 2019, Envista Holdings Corporation (“Envista”), completed an IPO of 30.8 million shares of its common stock, which represented 19.4% of Envista’s outstanding shares at the time of the offering, at a public offering price of $22.00 per share. Envista realized net proceeds of $643 million from the IPO, after deducting underwriting discounts and deal expenses.

In connection with the completion of the IPO, through a series of equity and other transactions, the Company transferred its dental businesses to Envista (the “Separation”). In exchange, Envista transferred consideration of approximately $2.0 billion to the Company, which consists primarily of the net proceeds from the IPO and approximately $1.3 billion of proceeds from Envista’s term debt financing. The excess of the net book value of the business transferred to Envista over the net proceeds from the IPO was $60 million and was recorded as a reduction to additional paid-in capital in the accompanying Consolidated Balance Sheet.

On December 18, 2019, Danaher completed the disposition of the remaining 80.6% ownership of Envista common stock through a split-off exchange offer, which resulted in Danaher’s repurchase of 22.9 million shares of the Company’s common stock in exchange for the remaining shares of Envista held by Danaher (the “Split-Off”). The IPO, Separation and Split-Off are collectively referred to as the “Envista Disposition”. As a result, the Company recognized a gain on the disposition of $451 million in the fourth quarter of 2019. At the time of the disposition, the Company reclassified $109 million of foreign currency translation adjustment losses related to Envista from accumulated other comprehensive income (loss) to the Company’s results of discontinued operations as a component of the net gain on the Envista Disposition. As a result of the IPO, Danaher recorded an increase to noncontrolling interest of $689 million in 2019 for the sale of the Envista common stock and subsequent earnings and other comprehensive income (loss) attributable to the noncontrolling interest. At the time of the Envista Disposition, Danaher decreased the noncontrolling interest by $692 million to record the deconsolidation of Envista and the elimination of the noncontrolling interest.

The accounting requirements for reporting Envista as a discontinued operation were met when the Split-Off was completed. Accordingly, the Consolidated Financial Statements for all periods presented reflect this business as a discontinued operation. The Company allocated a portion of the consolidated interest expense to discontinued operations based on the ratio of the discontinued business’ net assets to the Company’s consolidated net assets. Envista had revenues of approximately $2.6 billion in 2019 prior to the exchange offer and approximately $2.8 billion in 2018.

As a result of the Envista Disposition, the Company incurred $69 million and $15 million in IPO and Separation-related costs during the years ended December 31, 2019 and 2018, respectively, which are reflected in earnings from discontinued operations, net of income taxes in the accompanying Consolidated Statements of Earnings. These costs primarily relate to professional fees associated with preparation of regulatory filings and activities within finance, tax, legal and information technology functions as well as certain investment banking fees and tax costs.

Danaher used a portion of the consideration received from Envista to redeem $882 million in aggregate principal amount of outstanding indebtedness in the fourth quarter of 2019 (consisting of the Company’s 2.4% senior unsecured notes due 2020 and 5.0% senior unsecured notes due 2020). The Company incurred make-whole premiums in connection with the redemption of $7 million ($5 million after-tax or $0.01 per diluted share). The Company used the balance of the consideration it received from Envista to redeem commercial paper borrowings as they matured.

In connection with the Envista IPO and Separation, Danaher and Envista entered into various agreements to effect the disposition and provide a framework for their relationship after the Envista Separation, including a separation agreement, transition services agreement, employee matters agreement, tax matters agreement, intellectual property matters agreement and DANAHER BUSINESS SYSTEM (“DBS”) license agreement. These agreements provide for the allocation between Danaher and Envista of assets, employees, liabilities and obligations (including investments, property and employee benefits and tax-related assets and liabilities) attributable to periods prior to, at and after Envista’s separation from Danaher and govern certain relationships between Danaher and Envista after the Envista Separation. In addition, Danaher is also party to various commercial agreements with Envista entities. The amounts paid and received by Danaher for transition services provided under the above agreements as well as sales and purchases to and from Envista were not material to the Company’s results of operations for the year ended December 31, 2019.

Fortive Corporation Separation

On July 2, 2016 (the “Distribution Date”), Danaher completed the separation (the “Fortive Separation”) of its former Test & Measurement segment, Industrial Technologies segment (excluding the product identification businesses) and retail/commercial petroleum business by distributing to Danaher stockholders on a pro rata basis all of the issued and outstanding common stock of Fortive Corporation (“Fortive”), the entity Danaher incorporated to hold such businesses. Danaher recorded a $22 million income tax benefit in 2017 related to the release of previously provided reserves associated with uncertain tax positions on certain Danaher tax returns which were jointly filed with Fortive entities. These reserves were released due to the expiration of statutes of limitations for those returns. All Fortive entity-related balances are included in the income tax benefit related to discontinued operations for the year ended December 31, 2017.

The key components of income from both the Envista and Fortive businesses from discontinued operations for the years ended December 31 were as follows ($ in millions):



	2019			2018			2017
Sales	$	2,610.1		$	2,844.5		$	2,810.9
Cost of sales	(1,177.2		)	(1,242.7		)	(1,189.7		)
Selling, general and administrative expenses	(1,094.6		)	(1,081.1		)	(1,030.7		)
Research and development expenses	(151.4		)	(172.0		)	(172.4		)
Other income, net	1.7			2.7			0.1
Interest expense	(9.1		)	(20.5		)	(22.6		)
Income from discontinued operations before income taxes	179.5			330.9			395.6
Gain on disposition of Envista before income taxes	451.1			—			—
Earnings from discontinued operations before income taxes	630.6			330.9			395.6
Income taxes	(41.4		)	(86.3		)	(75.7		)
Earnings from discontinued operations, net of income taxes	589.2			244.6			319.9
Net earnings attributable to noncontrolling interest	(13.3		)	—			—
Net earnings from discontinued operations attributable to common stockholders	$	575.9		$	244.6		$	319.9

The following table summarizes the major classes of assets and liabilities of the Envista-related discontinued operations that were included in the Company’s accompanying Consolidated Balance Sheet as of December 31, 2018 ($ in millions):



Assets:
Trade accounts receivable, net	$	459.8
Inventories	278.7
Prepaid expenses and other current assets	48.3
Property, plant and equipment, net	261.6
Goodwill	3,325.5
Other intangible assets, net	1,390.3
Other long-term assets	77.4
Total assets, discontinued operations	$	5,841.6
Liabilities:
Trade accounts payable	$	217.4
Accrued expenses and other liabilities	387.6
Other long-term liabilities	374.2
Total liabilities, discontinued operations	$	979.2

Leases (Notes)

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Leases

LEASES

The Company has operating leases for office space, warehouses, distribution centers, research and development facilities, manufacturing locations and certain equipment, primarily automobiles. Many leases include one or more options to renew, some of which include options to extend the leases for up to 30 years, and some leases include options to terminate the leases within 30 days. In certain of the Company’s lease agreements, the rental payments are adjusted periodically to reflect actual charges incurred for common area maintenance, utilities, inflation and/or changes in other indexes. The Company’s finance leases were not material as of December 31, 2019. ROU assets arising from finance leases are included in property, plant and equipment, net and the liabilities are included in notes payable and current portion of long-term debt and long-term debt in the accompanying Consolidated Balance Sheet.

The components of operating lease expense for the year ended December 31, 2019 were as follows ($ in millions):



Fixed operating lease expense ^(a)	$	195.9
Variable operating lease expense	45.0
Total operating lease expense	$	240.9

^(a)Includes short-term leases and sublease income, both of which were immaterial.

Supplemental cash flow information related to the Company’s operating leases for the year ended December 31, 2019 was as follows ($ in millions):



Cash paid for amounts included in the measurement of operating lease liabilities	$	202.0
ROU assets obtained in exchange for operating lease obligations	144.9

The following table presents the lease balances within the Consolidated Balance Sheet, weighted average remaining lease term, and weighted average discount rates related to the Company’s operating leases as of December 31, 2019 ($ in millions):



Lease Assets and Liabilities	Classification
Assets:
Operating lease ROU assets	Other long-term assets	$	763.7

Liabilities:
Current:
Operating lease liabilities	Accrued expenses and other liabilities	$	157.8
Long-term:
Operating lease liabilities	Other long-term liabilities	639.1
Total operating lease liabilities		$	796.9

Weighted average remaining lease term		7 years
Weighted average discount rate		3.1		%

The following table presents the maturity of the Company’s operating lease liabilities as of December 31, 2019 ($ in millions):



2020	$	179.5
2021	142.5
2022	124.9
2023	106.3
2024	90.1
Thereafter	244.9
Total operating lease payments	888.2
Less: imputed interest	91.3
Total operating lease liabilities	$	796.9

As of December 31, 2019, the Company had no additional significant operating or finance leases that had not yet commenced.

ASC 840 Comparative Disclosures

Total rent expense under ASC 840 for all operating leases was $234 million and $207 million for the years ended December 31, 2018 and 2017, respectively.

The following table presents the Company’s future minimum rental payments under ASC 840 for all operating leases having initial or remaining noncancelable lease terms in excess of one year as of December 31, 2018 ($ in millions). Future minimum lease payments differ from the future lease liability recognized under ASC 842, as the lease liability recognized under ASC 842 discounts the lease payments while the minimum lease payments presented below are not discounted. Additionally, under ASC 842 the Company elected to combine any non-lease components in an arrangement with the lease components for the calculation of the lease liability, while the minimum lease payments under ASC 840 excluded any non-lease components.



2019	$	173.6
2020	143.4
2021	111.4
2022	97.3
2023	83.2
Thereafter	226.5

Inventories

12 Months Ended

Dec. 31, 2019

Inventory, Net [Abstract]

Inventories

INVENTORIES

The classes of inventory as of December 31 are summarized as follows ($ in millions):



	2019		2018
Finished goods	$	833.5	$	864.4
Work in process	284.9		279.6
Raw materials	509.9		487.4
Total	$	1,628.3	$	1,631.4

As of December 31, 2019 and 2018, the difference between inventories valued at LIFO and the value of that same inventory if the FIFO method had been used was not significant. The liquidation of LIFO inventory did not have a significant impact on the Company’s results of operations in any period presented.

Property, Plant And Equipment

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment [Abstract]

Property, Plant And Equipment

PROPERTY, PLANT AND EQUIPMENT

The classes of property, plant and equipment as of December 31 are summarized as follows ($ in millions):



	2019			2018
Land and improvements	$	149.6		$	151.8
Buildings	953.8			895.4
Machinery and equipment	2,193.9			2,022.6
Customer-leased equipment	1,766.1			1,632.9
Gross property, plant and equipment	5,063.4			4,702.7
Less: accumulated depreciation	(2,761.4		)	(2,453.1		)
Property, plant and equipment, net	$	2,302.0		$	2,249.6

Goodwill And Other Intangible Assets

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill And Other Intangible Assets

GOODWILL AND OTHER INTANGIBLE ASSETS

As discussed in Note 3, goodwill arises from the purchase price for acquired businesses exceeding the fair value of tangible and intangible assets acquired less assumed liabilities and noncontrolling interests. Management assesses the goodwill of each of its reporting units for impairment at least annually at the beginning of the fourth quarter and as “triggering” events occur that indicate that it is more likely than not that an impairment exists. The Company elected to bypass the optional qualitative goodwill assessment allowed by applicable accounting standards and performed a quantitative impairment test for all reporting units as this was determined to be the most effective method to assess for impairment across a large spectrum of reporting units.

The Company estimates the fair value of its reporting units primarily using a market approach, based on current trading multiples of earnings before interest, taxes, depreciation and amortization (“EBITDA”) for companies operating in businesses similar to each of the Company’s reporting units, in addition to recent available market sale transactions of comparable businesses. In certain circumstances the Company also estimates fair value utilizing a discounted cash flow analysis (i.e., an income approach) in order to validate the results of the market approach. If the estimated fair value of the reporting unit is less than its carrying value, the Company must perform additional analysis to determine if the reporting unit’s goodwill has been impaired.

As of December 31, 2019, the Company had five reporting units for goodwill impairment testing. As of the date of the 2019 annual impairment test, the carrying value of the goodwill included in each individual reporting unit ranged from $505 million to approximately $13.3 billion. No goodwill impairment charges were recorded for the years ended December 31, 2019, 2018 and 2017 and no “triggering” events have occurred subsequent to the performance of the 2019 annual impairment test. The factors used by management in its impairment analysis are inherently subject to uncertainty. If actual results are not consistent with management’s estimates and assumptions, goodwill and other intangible assets may be overstated and a charge would need to be taken against net earnings.

The following is a rollforward of the Company’s goodwill by segment ($ in millions):



	Life Sciences			Diagnostics			Environmental & Applied Solutions			Total
Balance, January 1, 2018	$	12,335.5		$	7,079.5		$	2,353.6		$	21,768.6
Attributable to 2018 acquisitions	1,212.6			—			62.8			1,275.4
Adjustments due to finalization of purchase price allocations	2.8			—			4.7			7.5
Foreign currency translation and other	(239.9		)	(153.9		)	(77.2		)	(471.0		)
Balance, December 31, 2018	13,311.0			6,925.6			2,343.9			22,580.5
Attributable to 2019 acquisitions	213.4			2.6			1.1			217.1
Adjustments due to finalization of purchase price allocations	(6.9		)	—			—			(6.9		)
Foreign currency translation and other	(45.7		)	(27.0		)	(5.5		)	(78.2		)
Balance, December 31, 2019	$	13,471.8		$	6,901.2		$	2,339.5		$	22,712.5

Finite-lived intangible assets are amortized over their legal or estimated useful life. The following summarizes the gross carrying value and accumulated amortization for each major category of intangible assets as of December 31 ($ in millions):



	2019					2018
	Gross Carrying Amount		Accumulated Amortization			Gross Carrying Amount		Accumulated Amortization
Finite-lived intangibles:
Patents and technology	$	2,712.7	$	(934.1	)	$	2,679.0	$	(764.5	)
Customer relationships and other intangibles	6,367.4		(2,612.3		)	6,327.1		(2,166.1		)
Total finite-lived intangibles	9,080.1		(3,546.4		)	9,006.1		(2,930.6		)
Indefinite-lived intangibles:
Trademarks and trade names	4,216.0		—			4,207.3		—
Total intangibles	$	13,296.1	$	(3,546.4	)	$	13,213.4	$	(2,930.6	)

During 2019, the Company acquired finite-lived intangible assets, consisting primarily of customer relationships, with a weighted average life of 13 years. During 2018, the Company acquired finite-lived intangible assets, consisting primarily of patents and technology, with a weighted average life of 18 years. Refer to Note 3 for additional information on the intangible assets acquired.

Total intangible amortization expense in 2019, 2018 and 2017 was $625 million, $616 million and $579 million, respectively. Based on the intangible assets recorded as of December 31, 2019, amortization expense is estimated to be $623 million during 2020, $613 million during 2021, $595 million during 2022, $589 million during 2023 and $550 million during 2024.

Fair Value Measurements

12 Months Ended

Dec. 31, 2019

Fair Value Disclosures [Abstract]

Fair Value Measurements

FAIR VALUE MEASUREMENTS

Accounting standards define fair value based on an exit price model, establish a framework for measuring fair value where the Company’s assets and liabilities are required to be carried at fair value and provide for certain disclosures related to the valuation methods used within a valuation hierarchy as established within the accounting standards. This hierarchy prioritizes the inputs into three broad levels as follows. Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 inputs are quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets in markets that are not active, or other observable characteristics for the asset or liability, including interest rates, yield curves and credit risks, or inputs that are derived principally from, or corroborated by, observable market data through correlation. Level 3 inputs are unobservable inputs based on the Company’s assumptions. A financial asset or liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement in its entirety.

A summary of financial assets and liabilities that are measured at fair value on a recurring basis were as follows ($ in millions):



	Year Ended December 31		Quoted Prices in Active Market (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
2019
Assets:
Available-for-sale debt securities	$	33.7	$	—	$	33.7	$	—
Investment in equity securities	110.8		—		—		—
Cross-currency swap derivative contracts	25.7		—		25.7		—
Liabilities:
Cross-currency swap derivative contracts	111.7		—		111.7		—
Deferred compensation plans	70.4		—		70.4		—
2018
Assets:
Available-for-sale debt securities	$	38.3	$	—	$	38.3	$	—
Investment in equity securities	60.3		—		—		—
Liabilities:
Deferred compensation plans	49.8		—		49.8		—

Available-for-sale debt securities, which are included in other long-term assets in the accompanying Consolidated Balance Sheets, are measured at fair value using quoted prices reported by investment brokers and dealers based on the underlying terms of the security and comparison to similar securities traded on an active market. As of December 31, 2019, available-for-sale debt securities primarily include U.S. Treasury Notes and corporate debt securities, which are valued based on the terms of the instruments in comparison with similar terms on the active market.

The Company estimates the fair value of the investments in equity securities based on the measurement alternative and adjusts for impairments and observable price changes with a same or similar security from the same issuer within net earnings (the “Fair Value Alternative”). The Company’s investments in equity securities are not classified in the fair value hierarchy due to the use of these measurement methods. No significant realized or unrealized gains or losses were recorded in either 2019 or 2018 with respect to these investments.

The cross-currency swap derivative contracts are used to partially hedge the Company’s net investments in foreign operations against adverse movements in exchange rates between the U.S. dollar and the Danish kroner, Japanese yen, euro and Swiss franc. The Company also uses cross-currency swap derivative contracts to hedge the exchange rate exposure from long-term debt issuances in a foreign currency other than the functional currency of the borrower. The cross-currency swap derivative contracts are classified as Level 2 in the fair value hierarchy as they are measured using the income approach with the relevant interest rates and current foreign currency exchange rates and forward curves as inputs. Refer to Note 12 for additional information.

The Company has established nonqualified contribution and deferred compensation programs that permit the Company to make tax-deferred contributions to officers and certain other employees, and also permit directors, officers and certain other employees to voluntarily defer taxation on a portion of their compensation. All amounts contributed or deferred under such plans are unfunded, unsecured obligations of the Company and are presented as a component of the Company’s compensation and benefits accrual included in other long-term liabilities in the accompanying Consolidated Balance Sheets (refer to Note 10). Non-director participants may choose among alternative earning rates for the amounts they defer, which are primarily based on investment options within the Company’s 401(k) program. Changes in the deferred compensation liability under these programs are recognized based on changes in the fair value of the participants’ accounts, which are based on the applicable earnings rates. Amounts voluntarily deferred by directors and amounts unilaterally contributed to participant accounts by the Company are deemed invested in the Company’s common stock and future distributions of such contributions (as well as future distributions of any voluntary deferrals allocated at any time to the Danaher common stock investment option) will be made solely in shares of Company common stock, and therefore are not reflected in the above amounts.

Fair Value of Financial Instruments

The carrying amounts and fair values of the Company’s financial instruments as of December 31 were as follows ($ in millions):



	2019				2018
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Assets:
Available-for-sale debt securities	$	33.7	$	33.7	$	38.3	$	38.3
Investment in equity securities	110.8		110.8		60.3		60.3
Cross-currency swap derivative contracts	25.7		25.7		—		—
Liabilities:
Cross-currency swap derivative contracts	111.7		111.7		—		—
Notes payable and current portion of long-term debt	212.4		212.4		51.8		51.8
Long-term debt	21,516.7		21,896.9		9,688.5		9,990.6

As of December 31, 2019 and 2018 available-for-sale debt securities were categorized as Level 2 and short and long-term borrowings were categorized as Level 1. Cross-currency swap derivative contracts were also categorized as Level 2 as of December 31, 2019.

The fair value of long-term borrowings was based on quoted market prices. The difference between the fair value and the carrying amounts of long-term borrowings (other than the Company’s Liquid Yield Option Notes due 2021 (the “LYONs”)) is attributable to changes in market interest rates and/or the Company’s credit ratings subsequent to the incurrence of the borrowing. In the case of the LYONs, differences in the fair value from the carrying value are attributable to changes in the price of the Company’s common stock due to the LYONs’ conversion features. The fair values of borrowings with original maturities of one year or less, as well as cash and cash equivalents, trade accounts receivable, net and trade accounts payable approximate their carrying amounts due to the short-term maturities of these instruments.

Refer to Note 13 for information related to the fair value of the Company sponsored defined benefit pension plan assets.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Accrued Expenses And Other Liabilities

12 Months Ended

Dec. 31, 2019

Payables and Accruals [Abstract]

Accrued Expenses And Other Liabilities

ACCRUED EXPENSES AND OTHER LIABILITIES

Accrued expenses and other liabilities as of December 31 were as follows ($ in millions):



	2019				2018
	Current		Noncurrent		Current		Noncurrent
Compensation and benefits	$	931.3	$	223.0	$	904.2	$	205.0
Pension and postretirement benefits	150.8		898.4		68.8		917.8
Taxes, income and other	356.5		3,308.8		286.0		3,330.2
Deferred revenue	687.8		118.1		626.8		109.8
Sales and product allowances	115.4		2.0		111.4		2.0
Operating lease liabilities under ASC 842	157.8		639.1		—		—
Other	805.7		161.5		692.1		136.8
Total	$	3,205.3	$	5,350.9	$	2,689.3	$	4,701.6

Financing

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Financing

FINANCING

The components of the Company’s debt as of December 31 were as follows ($ in millions):



	2019		2018
U.S. dollar-denominated commercial paper	$	—	$	72.8
Euro-denominated commercial paper (€4.6 billion and €2.1 billion, respectively)	5,146.2		2,377.5
1.0% senior unsecured notes due 2019 (€600.0 million aggregate principal amount) (the “2019 Euronotes”)	—		687.0
2.4% senior unsecured notes due 2020 (the “2020 U.S. Notes”)	—		498.5
5.0% senior unsecured notes due 2020 (the “2020 Assumed Pall Notes”)	—		386.7
Zero-coupon LYONs due 2021	33.6		56.2
0.352% senior unsecured notes due 2021 (¥30.0 billion aggregate principal amount) (the “2021 Yen Notes”)	275.8		273.2
1.7% senior unsecured notes due 2022 (€800.0 million aggregate principal amount) (the “2022 Euronotes”)	894.8		913.2
Floating rate senior unsecured notes due 2022 (€250.0 million aggregate principal amount) (the “Floating Rate 2022 Euronotes”)	279.8		285.7
2.05% senior unsecured notes due 2022 (the “2022 Biopharma Notes”)	696.9		—
0.5% senior unsecured bonds due 2023 (CHF 540.0 million aggregate principal amount) (the “2023 CHF Bonds”)	558.9		550.7
2.2% senior unsecured notes due 2024 (the “2024 Biopharma Notes”)	696.2		—
2.5% senior unsecured notes due 2025 (€800.0 million aggregate principal amount) (the “2025 Euronotes”)	893.7		912.6
3.35% senior unsecured notes due 2025 (the “2025 U.S. Notes”)	497.3		496.8
0.2% senior unsecured notes due 2026 (€1.3 billion aggregate principal amount) (the “2026 Biopharma Euronotes”)	1,392.3		—
0.3% senior unsecured notes due 2027 (¥30.8 billion aggregate principal amount) (the “2027 Yen Notes”)	282.5		279.9
1.2% senior unsecured notes due 2027 (€600.0 million aggregate principal amount) (the “2027 Euronotes”)	668.0		682.0
0.45% senior unsecured notes due 2028 (€1.3 billion aggregate principal amount) (the “2028 Biopharma Euronotes”)	1,390.1		—
1.125% senior unsecured bonds due 2028 (CHF 210.0 million aggregate principal amount) (the “2028 CHF Bonds”)	221.0		218.1
2.6% senior unsecured notes due 2029 (the “2029 Biopharma Notes”)	794.8		—
0.75% senior unsecured notes due 2031 (€1.8 billion aggregate principal amount) (the “2031 Biopharma Euronotes”)	1,948.7		—
0.65% senior unsecured notes due 2032 (¥53.2 billion aggregate principal amount) (the “2032 Yen Notes”)	487.8		483.4
1.35% senior unsecured notes due 2039 (€1.3 billion aggregate principal amount) (the “2039 Biopharma Euronotes”)	1,383.6		—
3.25% senior unsecured notes due 2039 (the “2039 Biopharma Notes”)	890.3		—
4.375% senior unsecured notes due 2045 (the “2045 U.S. Notes”)	499.4		499.3
1.8% senior unsecured notes due 2049 (€750.0 million aggregate principal amount) (the “2049 Biopharma Euronotes”)	830.9		—
3.4% senior unsecured notes due 2049 (the “2049 Biopharma Notes”)	890.2		—
Other	76.3		66.7
Total debt	21,729.1		9,740.3
Less: currently payable	212.4		51.8
Long-term debt	$	21,516.7	$	9,688.5

Debt discounts, premiums and debt issuance and other related costs totaled $112 million and $19 million as of December 31, 2019 and 2018, respectively, and have been netted against the aggregate principal amounts of the related debt in the components of debt table above.

Commercial Paper Programs and Credit Facilities

In 2015, the Company entered into a $4.0 billion unsecured multi-year revolving credit facility with a syndicate of banks that was scheduled to expire on July 10, 2020 (the “Superseded Credit Facility”). In 2018, the Company also entered into a $1.0 billion 364-day unsecured revolving credit facility with a syndicate of banks that was scheduled to expire in March 2019 (the “Superseded 364-Day Facility”), to provide additional liquidity support for issuances under the Company’s U.S. and euro-denominated commercial paper programs. The Superseded 364-Day Facility backstopped an increase in the size of the Company’s commercial paper programs and provided necessary capacity for the Company to use proceeds from the issuance of commercial paper to fund the purchase price for the IDT acquisition. The Company terminated the Superseded 364-Day Facility on November 6, 2018. No borrowings were outstanding under the Superseded Credit Facility or the Superseded 364-Day Facility at any time. Total fees incurred by the Company related to the Superseded 364-Day Facility and its termination were not significant.

On August 27, 2019, the Company replaced the Superseded Credit Facility with a $5.0 billion unsecured revolving credit facility with a syndicate of banks that expires on August 27, 2024, subject to a one-year extension option at the request of the Company with the consent of the lenders (the “Five-Year Facility”). The Five-Year Facility also contains an expansion option permitting Danaher to request up to five increases of up to an aggregate additional $2.5 billion from lenders that elect to make such increase available, upon the satisfaction of certain conditions. At the same time, the Company entered into a $5.0 billion 364-day unsecured revolving credit facility with a syndicate of banks that expires on August 26, 2020 (the “Scheduled Termination Date”) (the “364-Day Facility” and together with the Five-Year Facility, the “2020 Credit Facilities”), to provide additional liquidity support for issuances under the Company’s U.S. dollar and euro-denominated commercial paper programs. The Company may elect, upon the payment of a fee equal to 0.75% of the principal amount of the loans then outstanding and, upon the satisfaction of certain conditions, to convert any loans outstanding on the Scheduled Termination Date into term loans that are due and payable one year following the Scheduled Termination Date. The Five-Year Facility and 364-Day Facility backstop the Company’s commercial paper programs and provide capacity for the Company to use proceeds from its commercial paper programs to fund a portion of the pending GE Biopharma Acquisition. In addition, the Company has also entered into reimbursement agreements with various commercial banks to support the issuance of letters of credit.

Borrowings under the Five-Year Facility bear interest as follows: (1) Eurocurrency Rate Committed Loans (as defined in the Five-Year Facility) bear interest at a variable rate equal to the London inter-bank offered rate plus a margin of between 58.5 and 100 basis points, depending on Danaher’s long-term debt credit rating; (2) Base Rate Committed Loans and Swing Line Loans (each as defined in the Five-Year Facility) bear interest at a variable rate equal to the highest of (a) the Federal funds rate (as published by the Federal Reserve Bank of New York from time to time) plus 50 basis points; (b) Bank of America’s “prime rate” as publicly announced from time to time and (c) the Eurocurrency Rate (as defined in the Five-Year Facility) plus 100 basis points; and (3) Bid Loans (as defined in the Five-Year Facility) bear interest at the rate bid by the particular lender providing such loan. In addition, Danaher is required to pay a per annum facility fee of between 4 and 12.5 basis points (depending on Danaher’s long-term debt credit rating) based on the aggregate commitments under the Five-Year Facility, regardless of usage.

Borrowings under the 364-Day Facility bear interest as follows: (1) Eurodollar Rate Loans (as defined in the 364-Day Facility) bear interest at a variable rate per annum equal to the London inter-bank offered rate plus a margin of between 59.5 and 100.5 basis points, depending on Danaher’s long-term debt credit rating; and (2) Base Rate Loans (as defined in the 364-Day Facility) bear interest at a variable rate per annum equal to the highest of (a) the Federal funds rate (as published by the Federal Reserve Bank of New York from time to time) plus 50 basis points, (b) Bank of America’s “prime rate” as publicly announced from time to time and (c) the Eurodollar Rate (as defined in the 364-Day Facility) plus 100 basis points, plus in each case a margin of up to 0.5 basis points depending on Danaher’s long-term debt credit rating. In addition, Danaher is required to pay a per annum facility fee of between 3 and 12 basis points (depending on Danaher’s long-term debt credit rating) based on the aggregate commitments under the 364-Day Facility, regardless of usage.

The 2020 Credit Facilities require the Company to maintain a consolidated leverage ratio (as defined in the facilities) of 0.65 to 1.00 or less. Borrowings under the 2020 Credit Facilities are prepayable at the Company’s option at any time in whole or in part without premium or penalty. As of December 31, 2019, no borrowings were outstanding under the 2020 Credit Facilities and the Company was in compliance with all covenants under the facilities. The nonperformance by any member of the 2020 Credit Facilities syndicates would reduce the maximum capacity of the 2020 Credit Facilities by such member’s commitment amount.

The Company’s obligations under the 2020 Credit Facilities are unsecured. The Company has unconditionally and irrevocably guaranteed the obligations of each of its subsidiaries in the event a subsidiary is named a borrower under either of the 2020 Credit Facilities. Both of the 2020 Credit Facilities contain customary representations, warranties, conditions precedent, events of default, indemnities and affirmative and negative covenants. The 2020 Credit Facilities are available for liquidity support

for Danaher’s expanded U.S. dollar and euro commercial paper programs, as discussed below, and for general corporate purposes.

Under the Company’s U.S. and euro-denominated commercial paper programs, the Company or a subsidiary of the Company, as applicable, may issue and sell unsecured, short-term promissory notes. The notes are typically issued at a discount from par, generally based on the ratings assigned to the Company by credit rating agencies at the time of the issuance and prevailing market rates measured by reference to LIBOR or EURIBOR. The 2020 Credit Facilities provide liquidity support for issuances under the Company’s commercial paper programs, and can also be used for working capital and other general corporate purposes. The availability of the 2020 Credit Facilities as standby liquidity facilities to repay maturing commercial paper is an important factor in maintaining the existing credit ratings of the Company’s commercial paper programs. The Company expects to limit any borrowings under the 2020 Credit Facilities to amounts that would leave sufficient available borrowing capacity under such facilities to allow the Company to borrow, if needed, to repay all of the outstanding commercial paper as it matures. As commercial paper obligations mature, the Company may issue additional short-term commercial paper obligations to refinance all or part of these borrowings. As of December 31, 2019, borrowings outstanding under the Company’s U.S. and euro commercial paper programs had a weighted average annual interest rate of negative 0.2% and a weighted average remaining maturity of approximately 63 days. The Company has classified approximately $5.0 billion of its borrowings outstanding under the euro-denominated commercial paper programs as of December 31, 2019 as long-term debt in the accompanying Consolidated Balance Sheet as the Company had the intent and ability, as supported by availability under the Five-Year Facility, to refinance these borrowings for at least one year from the balance sheet date.

The Company’s ability to access the commercial paper market, and the related costs of these borrowings, is affected by the strength of the Company’s credit rating and market conditions. Any downgrade in the Company’s credit rating would increase the cost of borrowings under the Company’s commercial paper program and the 2020 Credit Facilities, and could limit or preclude the Company’s ability to issue commercial paper. If the Company’s access to the commercial paper market is adversely affected due to a credit downgrade, change in market conditions or otherwise, the Company expects it would rely on a combination of available cash, operating cash flow and the 2020 Credit Facilities to provide short-term funding. In such event, the cost of borrowings under the 2020 Credit Facilities could be higher than the cost of commercial paper borrowings.

2019 Debt Issuances

Long-Term Indebtedness Related to the Pending GE Biopharma Acquisition

On September 18, 2019, DH Europe Finance II S.a.r.l. (“Danaher International II”), a wholly-owned finance subsidiary of the Company, completed the underwritten public offering of senior unsecured notes due 2026, 2028, 2031, 2039 and 2049 (collectively the “Biopharma Euronotes”). The following summarizes the key terms of the offering (€ in millions):



	Aggregate Principal Amount		Stated Annual Interest Rate		Issue Price (as % of Principal Amount)		Maturity Date	Interest Payment Dates (in arrears)
2026 Biopharma Euronotes	€	1,250.0	0.200	%	99.833	%	March 18, 2026	March 18
2028 Biopharma Euronotes	€	1,250.0	0.450	%	99.751	%	March 18, 2028	March 18
2031 Biopharma Euronotes	€	1,750.0	0.750	%	99.920	%	September 18, 2031	September 18
2039 Biopharma Euronotes	€	1,250.0	1.350	%	99.461	%	September 18, 2039	September 18
2049 Biopharma Euronotes	€	750.0	1.800	%	99.564	%	September 18, 2049	September 18

The Biopharma Euronotes are fully and unconditionally guaranteed by the Company. The Company received net proceeds from the Biopharma Euronotes, after underwriting discounts and commissions and offering expenses, of approximately €6.2 billion (approximately $6.8 billion based on currency exchange rates as of the date of the pricing of the notes). The Company plans to use the proceeds from the Biopharma Euronotes to fund a portion of the pending GE Biopharma Acquisition. Pending completion of the GE Biopharma Acquisition, the Company has invested the net proceeds in short-term bank deposits and/or interest-bearing, investment-grade securities.

On November 7, 2019, Danaher International II completed the underwritten public offering of senior unsecured notes due 2022, 2024, 2029, 2039 and 2049 (collectively the “Biopharma Notes”). The following summarizes the key terms of the offering ($ in millions):



	Aggregate Principal Amount		Stated Annual Interest Rate		Issue Price (as % of Principal Amount)		Maturity Date	Interest Payment Dates (in arrears)
2022 Biopharma Notes	$	700.0	2.050	%	99.994	%	November 15, 2022	May 15 and November 15
2024 Biopharma Notes	$	700.0	2.200	%	99.952	%	November 15, 2024	May 15 and November 15
2029 Biopharma Notes	$	800.0	2.600	%	99.903	%	November 15, 2029	May 15 and November 15
2039 Biopharma Notes	$	900.0	3.250	%	99.809	%	November 15, 2039	May 15 and November 15
2049 Biopharma Notes	$	900.0	3.400	%	99.756	%	November 15, 2049	May 15 and November 15

The Biopharma Notes are fully and unconditionally guaranteed by the Company. The Company received net proceeds from the Biopharma Notes, after underwriting discounts and commissions and offering expenses, of approximately $4.0 billion. The Company plans to use the proceeds from the Biopharma Notes to fund a portion of the pending GE Biopharma Acquisition. Pending completion of the GE Biopharma Acquisition, the Company has invested the net proceeds in short-term bank deposits and/or interest-bearing, investment-grade securities.

Long-Term Indebtedness Related to the Envista Separation

In September 2019, the Company received net cash distributions of approximately $2.0 billion from Envista as consideration for the Company’s contribution of assets to Envista in connection with the Envista IPO. Envista financed these cash payments through the issuance of common stock and proceeds from approximately $1.3 billion of term debt, consisting of $650 million aggregate principal amount of borrowings under a three-year, senior unsecured term loan facility with variable interest rates (the “Envista Term Loan Facility”) and €600 million aggregate principal amount of borrowings under a three-year, senior unsecured term loan facility with variable interest rates (the “Envista Euro Term Loan Facility” and together with the Term Loan Facility, the “Envista Debt”). In addition, Envista entered into a revolving credit agreement with a syndicate of banks providing for a five-year $250 million senior unsecured revolving credit facility (the “Envista Credit Facility”). No amounts were outstanding under the Envista Credit Facility at any time prior to the closing of the Split-Off. In connection with the Envista Disposition, the Company was released from all obligations related to the Envista Debt and these borrowings are no longer reflected in the Company’s Consolidated Financial Statements.

Covenants and Redemption Provisions Applicable to Notes

With respect to the 2027 and 2032 Yen Notes; the 2019, 2022, 2025 and 2027 Euronotes; the 2025 and 2045 U.S. Notes and the Biopharma Notes and Biopharma Euronotes, at any time prior to the applicable maturity date, the Company may redeem the applicable series of notes in whole or in part, by paying the principal amount accrued and unpaid interest and, until the par call date specified in the applicable indenture or comparable governing document, the “make-whole” premium specified therein (and in the case of the Yen Notes, net of certain swap-related gains or losses as applicable). With respect to each of the 2023 and 2028 CHF Bonds at any time after 85% or more of the applicable bonds have been redeemed or purchased and canceled, the Company may redeem some or all of the remaining bonds for their principal amount plus accrued and unpaid interest. With respect to the 2021, 2027 and 2032 Yen Notes; the 2022, Floating Rate 2022, 2025 and 2027 Euronotes; the 2023 and 2028 CHF Bonds and the Biopharma Euronotes, the Company may redeem such notes and bonds upon the occurrence of specified, adverse changes in tax laws, or interpretations under such laws, at a redemption price equal to the principal amount of the bonds to be redeemed.

If a change of control triggering event occurs with respect to any of the 2021, 2027 and 2032 Yen Notes; the 2022, Floating Rate 2022, 2025 and 2027 Euronotes; the 2025 and 2045 U.S. Notes; the 2023 and 2028 CHF Bonds; the Biopharma Notes or the Biopharma Euronotes, each holder of such notes may require the Company to repurchase some or all of such notes and bonds at a purchase price equal to 101% (100% in the case of the 2027 and 2032 Yen Notes) of the principal amount of the notes and bonds, plus accrued and unpaid interest (and in the case of the Yen Notes, certain swap-related losses as applicable). A change of control triggering event means the occurrence of both a change of control and a rating event, each as defined in the applicable indenture or comparable governing document. Except in connection with a change of control triggering event, the Company does not have any credit rating downgrade triggers that would accelerate the maturity of a material amount of outstanding debt. Each holder of the 2027 and 2032 Yen Notes may also require the Company to repurchase some or all of its notes at a purchase price equal to 100% of the principal amount of the notes, plus accrued and unpaid interest and certain swap-

related losses as applicable, in certain circumstances whereby such holder comes into violation of economic sanctions laws as a result of holding such notes.

The respective indentures or comparable governing documents under which the above-described notes and bonds were issued contain customary covenants including, for example, limits on the incurrence of secured debt and sale/leaseback transactions. None of these covenants are considered restrictive to the Company’s operations and as of December 31, 2019, the Company was in compliance with all of its debt covenants.

Long-Term Indebtedness

The following summarizes the key terms for the Company’s long-term debt as of December 31, 2019:



	Outstanding Balance as of December 31, 2019		Stated Annual Interest Rate		Issue Price (as % of Principal Amount)		Issue Date	Maturity Date	Interest Payment Dates (in arrears)
2021 LYONs	$	33.6	see below		not applicable		January 22, 2001	January 22, 2021	January 22 and July 22
2021 Yen Notes ⁽⁴⁾	275.8		0.352	%	100	%	February 28, 2016	March 16, 2021	March 16 and September 16
2022 Euronotes ⁽¹⁾	894.8		1.7	%	99.651	%	July 8, 2015	January 4, 2022	January 4
Floating Rate 2022 Euronotes ⁽⁵⁾	279.8		three-month EURIBOR + 0.3%		100.147	%	June 30, 2017	June 30, 2022	March 30, June 30, September 30 and December 31
2022 Biopharma Notes ⁽⁸⁾	696.9		2.05	%	99.994	%	November 7, 2019	November 15, 2022	May 15 and November 15
2023 CHF Bonds⁽²⁾	558.9		0.5	%	100.924	%	December 8, 2015	December 8, 2023	December 8
2024 Biopharma Notes ⁽⁸⁾	696.2		2.2	%	99.952	%	November 7, 2019	November 15, 2024	May 15 and November 15
2025 Euronotes ⁽¹⁾	893.7		2.5	%	99.878	%	July 8, 2015	July 8, 2025	July 8
2025 U.S. Notes ⁽³⁾	497.3		3.35	%	99.857	%	September 15, 2015	September 15, 2025	March 15 and September 15
2026 Biopharma Euronotes ⁽⁷⁾	1,392.3		0.2	%	99.833	%	September 18, 2019	March 18, 2026	March 18
2027 Yen Notes ⁽⁶⁾	282.5		0.3	%	100	%	May 11, 2017	May 11, 2027	May 11 and November 11
2027 Euronotes ⁽⁵⁾	668.0		1.2	%	99.682	%	June 30, 2017	June 30, 2027	June 30
2028 Biopharma Euronotes ⁽⁷⁾	1,390.1		0.45	%	99.751	%	September 18, 2019	March 18, 2028	March 18
2028 CHF Bonds⁽²⁾	221.0		1.125	%	102.870	%	December 8, 2015 and December 8, 2017	December 8, 2028	December 8
2029 Biopharma Notes ⁽⁸⁾	794.8		2.6	%	99.903	%	November 7, 2019	November 15, 2029	May 15 and November 15
2031 Biopharma Euronotes ⁽⁷⁾	1,948.7		0.75	%	99.920	%	September 18, 2019	September 18, 2031	September 18
2032 Yen Notes ⁽⁶⁾	487.8		0.65	%	100	%	May 11, 2017	May 11, 2032	May 11 and November 11
2039 Biopharma Euronotes ⁽⁷⁾	1,383.6		1.35	%	99.461	%	September 18, 2019	September 18, 2031	September 18
2039 Biopharma Notes ⁽⁸⁾	890.3		3.25	%	99.809	%	November 7, 2019	November 15, 2039	May 15 and November 15
2045 U.S. Notes ⁽³⁾	499.4		4.375	%	99.784	%	September 15, 2015	September 15, 2045	March 15 and September 15
2049 Biopharma Euronotes ⁽⁷⁾	830.9		1.8	%	99.564	%	September 18, 2019	September 18, 2031	September 18
2049 Biopharma Notes ⁽⁸⁾	890.2		3.4	%	99.756	%	November 7, 2019	November 15, 2049	May 15 and November 15
U.S. dollar and euro-denominated commercial paper	5,146.2		various		various		various	various	various
Other	76.3		various		various		various	various	various
Total debt	$	21,729.1


⁽¹⁾	The net proceeds, after underwriting discounts and commissions and offering expenses, of approximately €2.2 billion (approximately $2.4 billion based on currency exchange rates as of the date of issuance) from these notes and the 2019 Euronotes were used to pay a portion of the purchase price for the acquisition of Pall Corporation in 2015 (the “Pall Acquisition”).

⁽²⁾

The net proceeds, including the related premium, and after underwriting discounts and commissions and offering expenses, of CHF 758 million ($739 million based on currency exchange rates as of date of pricing) from these bonds were used to repay a portion of the commercial paper issued to finance the Pall Acquisition and the CHF 100 million aggregate principal amount of the 0.0% senior unsecured bonds that matured in December 2017.


⁽³⁾	The net proceeds, after underwriting discounts and commissions and offering expenses, of approximately $2.0 billion from these notes were used to repay a portion of the commercial paper issued to finance the Pall Acquisition.


⁽⁴⁾	The net proceeds, after offering expenses, of approximately ¥29.9 billion ($262 million based on currency exchange rates as of the date of issuance) from these notes were used to repay a portion of the commercial paper borrowings issued to finance the Pall Acquisition.


⁽⁵⁾	The net proceeds at issuance, after offering expenses, of €843 million ($940 million based on currency exchange rates as of the date of pricing) from these notes were used to partially repay commercial paper borrowings.


⁽⁶⁾	The net proceeds at issuance, after offering expenses, of approximately ¥83.6 billion ($744 million based on currency exchange rates as of the date of pricing) from these notes were used to partially repay commercial paper borrowings.

⁽⁷⁾ The net proceeds at issuance, after offering expenses, of approximately €6.2 billion ($6.8 billion based on currency exchange rates as of the date of pricing) from these notes are intended to be used to finance the GE Biopharma Acquisition.

⁽⁸⁾ The net proceeds at issuance, after offering expenses, of approximately $4.0 billion from these notes are intended to be used to finance the GE Biopharma Acquisition.

LYONs

In 2001, the Company issued $830 million (value at maturity) in LYONs. The net proceeds to the Company were $505 million, of which approximately $100 million was used to pay down debt and the balance was used for general corporate purposes, including acquisitions. The LYONs originally carry a yield to maturity of 2.375% (with contingent interest payable as described below). Pursuant to the terms of the indenture that governs the Company’s LYONs, each $1,000 of principal amount at maturity may be converted into 38.1998 shares of Danaher common stock at any time on or before the maturity date of January 22, 2021.

During the year ended December 31, 2019, holders of certain of the Company’s LYONs converted such LYONs into an aggregate of approximately 935 thousand shares of the Company’s common stock, par value $0.01 per share. The Company’s deferred tax liability associated with the book and tax basis difference in the converted LYONs of $9 million was transferred to additional paid-in capital as a result of the conversions.

As of December 31, 2019, an aggregate of approximately 23 million shares of the Company’s common stock had been issued upon conversion of LYONs. As of December 31, 2019, the accreted value of the outstanding LYONs was lower than the traded market value of the underlying common stock issuable upon conversion. The Company may redeem all or a portion of the LYONs for cash at any time at scheduled redemption prices.

Under the terms of the LYONs, the Company pays contingent interest to the holders of LYONs during any six-month period from January 23 to July 22 and from July 23 to January 22 if the average market price of a LYON for a specified measurement period equals 120% or more of the sum of the issue price and accrued original issue discount for such LYON. The amount of contingent interest to be paid with respect to any quarterly period is equal to the higher of either 0.0315% of the bonds’ average market price during the specified measurement period or the amount of the cash dividend paid on Danaher’s common stock during such quarterly period multiplied by the number of shares issuable upon conversion of a LYON. The Company paid $1 million, $2 million and $2 million of contingent interest on the LYONs for each of the years ended December 31, 2019, 2018 and 2017, respectively. Except for the contingent interest described above, the Company will not pay interest on the LYONs prior to maturity.

Long-Term Debt Repayments

On October 24, 2019, the Company redeemed the $500 million aggregate principal amount of 2.4% Senior Notes due 2020 and the $375 million aggregate principal amount of 5.0% 2020 Assumed Pall Notes, in each case at a redemption price equal to the outstanding principal amount and a make-whole premium as specified in the applicable indenture, plus accrued and unpaid interest. The aggregate make-whole premiums required in connection with the redemption were $7 million ($5 million after-tax or $0.01 per diluted share). The payment of the make-whole premiums is reflected as a loss on early extinguishment of borrowings. The Company funded the redemption using a portion of the cash distribution it received in connection with the Envista Disposition.

The €600 million aggregate principal amount of the 2019 Euronotes were repaid with accrued interest upon their maturity on July 8, 2019 using proceeds from the issuance of euro-denominated commercial paper.

The $500 million aggregate principal amount of the 2018 U.S. Notes were repaid with accrued interest upon their maturity in September 2018 using available cash and proceeds from commercial paper borrowings.

Guarantors of Debt

The Company has guaranteed long-term debt and commercial paper issued by certain of its wholly-owned subsidiaries. The 2022 Euronotes, Floating Rate 2022 Euronotes, 2025 Euronotes and 2027 Euronotes were issued by DH Europe Finance S.a.r.l., formerly known as DH Europe Finance S.A. (“Danaher International”). The Biopharma Euronotes and the Biopharma Notes were issued by Danaher International II. The 2023 CHF Bonds and 2028 CHF Bonds were issued by DH Switzerland Finance S.A. (“Danaher Switzerland”). The 2021 Yen Notes, 2027 Yen Notes and 2032 Yen Notes were issued by DH Japan Finance S.A. (“Danaher Japan”). Each of Danaher International, Danaher International II, Danaher Switzerland and Danaher Japan are wholly-owned finance subsidiaries of Danaher Corporation. All of the outstanding and future securities issued by each of these entities are or will be fully and unconditionally guaranteed by the Company and these guarantees rank on parity with the Company’s unsecured and unsubordinated indebtedness.

Other

The Company’s minimum principal payments for the next five years are as follows ($ in millions):



2020	$	212.4
2021	298.2
2022	1,875.3
2023	547.7
2024	5,689.6
Thereafter	13,105.9

The Company made interest payments of $129 million, $140 million and $130 million in 2019, 2018 and 2017, respectively.

Hedging transactions and derivative financial instruments Hedging transactions and derivative financial instruments (Notes)

12 Months Ended

Dec. 31, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Hedging transactions and derivative financial instruments

HEDGING TRANSACTIONS AND DERIVATIVE FINANCIAL INSTRUMENTS

The Company uses cross-currency swap derivative contracts to partially hedge its net investments in foreign operations against adverse movements in exchange rates between the U.S. dollar and the Danish kroner, Japanese yen, euro and Swiss franc. The cross-currency swap derivative contracts are agreements to exchange fixed-rate payments in one currency for fixed-rate payments in another currency. In January 2019, the Company entered into cross-currency swap derivative contracts with respect to approximately $1.9 billion of its U.S. dollar-denominated bonds and approximately $1.0 billion of these derivative contracts remained outstanding as of December 31, 2019. These contracts effectively convert these U.S. dollar-denominated bonds to obligations denominated in Danish kroner, Japanese yen, euro and Swiss franc, and partially offset the impact of changes in currency rates on foreign currency denominated net investments. These contracts also reduce the interest rate from the stated interest rates on the U.S. dollar-denominated debt to the interest rates of the swaps. The changes in the spot rate of these instruments are recorded in accumulated other comprehensive income (loss) in stockholders’ equity, partially offsetting the foreign currency translation adjustment of the Company’s related net investment that is also recorded in accumulated other comprehensive income (loss) in the accompanying Consolidated Statement of Stockholders’ Equity. Any ineffective portions of net investment hedges are reclassified from accumulated other comprehensive income (loss) into earnings during the period of change. The interest income or expense from these swaps are recorded in interest expense in the accompanying Consolidated Statement of Earnings consistent with the classification of interest expense attributable to the underlying debt. These instruments mature on dates ranging from September 2025 to September 2028.

The Company also uses cross-currency swap derivative contracts to hedge U.S. dollar-denominated long-term debt issuances in a foreign subsidiary whose functional currency is the euro against adverse movements in exchange rates between the U.S. dollar and the euro. In November 2019, the Company entered into cross-currency swap derivative contracts with respect to approximately $4.0 billion of its U.S. dollar-denominated bonds and all of these derivative contracts remained outstanding as of December 31, 2019. These contracts effectively convert these U.S. dollar-denominated bonds to obligations denominated in euro. The changes in the fair value of these instruments are recorded in accumulated other comprehensive income (loss) in stockholders’ equity, with a reclassification from accumulated other comprehensive income (loss) to net earnings to offset the remeasurement of the hedged debt that is also recorded in net earnings. Any ineffective portions of net investment hedges are reclassified from accumulated other comprehensive income (loss) into earnings during the period of change. The interest income or expense from these swaps are recorded in interest expense in the accompanying Consolidated Statement of Earnings consistent with the classification of interest expense attributable to the underlying debt. These instruments mature on dates ranging from November 2022 to November 2049.

The Company has also issued foreign currency denominated long-term debt as partial hedges of its net investments in foreign operations against adverse movements in exchange rates between the U.S. dollar and the euro, Japanese yen and Swiss franc. These foreign currency denominated long-term debt issuances are designated and qualify as nonderivative hedging instruments. Accordingly, the foreign currency translation of these debt instruments is recorded in accumulated other comprehensive income (loss) in stockholders’ equity in the accompanying Consolidated Balance Sheets, offsetting the foreign currency translation adjustment of the Company’s related net investment that is also recorded in accumulated other comprehensive income (loss). Any ineffective portions of net investment hedges are reclassified from accumulated other comprehensive income (loss) into earnings during the period of change. These instruments mature on dates ranging from March 2021 to May 2032.

The Company used interest rate swap agreements to hedge the variability in cash flows due to changes in benchmark interest rates related to a portion of the U.S. debt the Company issued to fund the GE Biopharma Acquisition. The interest rate swap agreements are agreements in which the Company agrees to pay a fixed interest rate based on the rate specified in the agreement in exchange for receiving a floating interest rate from a third-party bank based upon a specified benchmark interest rate. In June 2019, the Company entered into interest rate swap agreements with a notional amount of $850 million. These contracts effectively fixed the interest rate for a portion of the Company’s U.S. dollar-denominated debt ultimately issued in November 2019 equal to the notional amount of the swaps to the rate specified in the interest rate swap agreements, and were settled in November 2019. The changes in the fair value of these instruments were recorded in accumulated other comprehensive income (loss) in stockholders’ equity prior to the issuance of the debt and are subsequently being reclassified to interest expense over the life of the related debt.

The following table summarizes the notional values as of December 31, 2019 and pretax impact of changes in the fair values of instruments designated as net investment hedges and cash flow hedges in accumulated other comprehensive income (“OCI”) for the year then ended ($ in millions):



	Original Notional Amount		Notional Amount Outstanding		Gain (Loss) Recognized in OCI
Net investment hedges:
Foreign currency contracts	$	1,875.0	$	1,000.0	$	24.1
Foreign currency denominated debt	6,275.9		6,275.9		129.9

Cash flow hedges:
Foreign currency contracts	4,000.0		4,000.0		(111.7		)
Interest rate swaps	850.0		—		(37.5		)
Total	$	13,000.9	$	11,275.9	$	4.8

Gains or losses related to the net investment hedges are classified as foreign currency translation adjustments in the schedule of changes in OCI in Note 1, as these items are attributable to the Company’s hedges of its net investment in foreign operations. Gains or losses related to the cash flow hedges are classified as cash flow hedge adjustments in the schedule of changes in OCI in Note 1. With the issuance of the Biopharma Notes in November 2019, the Company began reclassifying the deferred gain/loss from accumulated other comprehensive income (loss) to earnings for the interest rate swap contracts to effectively fix the interest rate for a portion of the Company’s U.S. dollar-denominated debt issuance in November 2019 equal to the notional amount of the swaps to the rate specified in the interest rate swap agreements. The amount reclassified to earnings for the interest rate swaps in 2019 was less than $1 million. In 2019, the Company reclassified $27 million of deferred losses from accumulated other comprehensive income (loss) to net earnings related to the cross-currency swap derivative contracts that are cash flow hedges of the Company’s U.S. dollar-denominated debt. This reclassification was equal to the remeasurement gain recorded in 2019 on the hedged debt. The Company did not reclassify any other deferred gains or losses related to net investment hedges or cash flow hedges from accumulated other comprehensive income (loss) to earnings during the year ended December 31, 2019. In addition, the Company did not have any ineffectiveness related to net investment hedges or interest rate swaps during the year ended December 31, 2019. The cash inflows and outflows associated with the Company’s derivative contracts designated as net investment hedges are classified in all other investing activities in the accompanying Consolidated Statement of Cash Flows. The cash inflows and outflows associated with the Company’s derivative contracts designated as cash flow hedges are classified in cash flows from operating activities in the accompanying Consolidated Statement of Cash Flows.

The Company’s derivative instruments, as well as its nonderivative debt instruments designated and qualifying as net investment hedges, were classified as of December 31, 2019 in the Company’s Consolidated Balance Sheet as follows ($ in millions):



Derivative assets:
Prepaid expenses and other current assets	$	25.7

Derivative liabilities:
Accrued expenses and other liabilities	111.7

Nonderivative hedging instruments:
Long-term debt	6,275.9

Amounts related to the Company’s derivatives expected to be reclassified from accumulated other comprehensive income (loss) to net earnings during the next 12 months if interest rates and foreign exchange rates remain the same are not significant.

Pension Benefit Plans

12 Months Ended

Dec. 31, 2019

Pension benefit plans

Defined Benefit Plans and Other Post-Retirement Benefit Plans [Line Items]

Pension Benefit Plans

PENSION BENEFIT PLANS

The Company has noncontributory defined benefit pension plans which cover certain of its U.S. employees. During 2012, all remaining benefit accruals under the U.S. plans ceased. Defined benefit plans from acquisitions subsequent to 2012 are ceased as soon as practical. The Company also has noncontributory defined benefit pension plans which cover certain of its non-U.S. employees, and under certain of these plans, benefit accruals continue. In general, the Company’s policy is to fund these plans based on considerations relating to legal requirements, underlying asset returns, the plan’s funded status, the anticipated tax deductibility of the contribution, local practices, market conditions, interest rates and other factors.

The following sets forth the funded status of the U.S. and non-U.S. plans as of the most recent actuarial valuations using measurement dates of December 31 ($ in millions):



	U.S. Pension Benefits						Non-U.S. Pension Benefits
	2019			2018			2019			2018
Change in pension benefit obligation:
Benefit obligation at beginning of year	$	(2,340.5	)	$	(2,608.0	)	$	(1,314.5	)	$	(1,428.5	)
Service cost	(6.4		)	(6.7		)	(25.0		)	(25.6		)
Interest cost	(88.6		)	(80.9		)	(23.9		)	(24.0		)
Employee contributions	—			—			(5.2		)	(5.3		)
Benefits and other expenses paid	164.4			178.6			47.6			44.5
Acquisitions and other	—			—			—			(3.6		)
Actuarial (loss) gain	(236.8		)	145.1			(152.2		)	59.8
Amendments, settlements and curtailments	39.9			31.4			47.4			15.0
Foreign exchange rate impact	—			—			(20.7		)	53.2
Benefit obligation at end of year	(2,468.0		)	(2,340.5		)	(1,446.5		)	(1,314.5		)
Change in plan assets:
Fair value of plan assets at beginning of year	1,778.3			2,004.9			1,031.7			1,103.0
Actual return (loss) on plan assets	282.6			(72.1		)	114.9			(19.9		)
Employer contributions	9.7			54.7			43.5			45.3
Employee contributions	—			—			5.2			5.3
Amendments and settlements	(40.6		)	(30.6		)	(36.5		)	(16.8		)
Benefits and other expenses paid	(164.4		)	(178.6		)	(47.6		)	(44.5		)
Acquisitions and other	—			—			—			1.9
Foreign exchange rate impact	—			—			27.4			(42.6		)
Fair value of plan assets at end of year	1,865.6			1,778.3			1,138.6			1,031.7
Funded status	$	(602.4	)	$	(562.2	)	$	(307.9	)	$	(282.8	)

Weighted average assumptions used to determine benefit obligations at date of measurement:



	U.S. Plans				Non-U.S. Plans
	2019		2018		2019		2018
Discount rate	3.2	%	4.3	%	1.4	%	2.1	%
Rate of compensation increase	4.0	%	4.0	%	2.4	%	2.4	%

Components of net periodic pension benefit (cost):



	U.S. Pension Benefits						Non-U.S. Pension Benefits
($ in millions)	2019			2018			2019			2018
Service cost	$	(6.4	)	$	(6.7	)	$	(25.0	)	$	(25.6	)
Interest cost	(88.6		)	(80.9		)	(23.9		)	(24.0		)
Expected return on plan assets	125.3			132.1			40.2			43.4
Amortization of prior service (cost) credit	(0.9		)	(0.9		)	0.2			0.5
Amortization of net loss	(25.7		)	(31.3		)	(4.4		)	(5.5		)
Curtailment and settlement (losses) gains recognized	—			—			(7.0		)	3.6
Net periodic pension benefit (cost)	$	3.7		$	12.3		$	(19.9	)	$	(7.6	)

In the first quarter of 2018, the Company adopted ASU No. 2017-07, Compensation—Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost, which requires the

Company to disaggregate the service cost component from other components of net periodic benefit costs and report the service cost component in the same line item as other compensation costs and the other components of net periodic benefit costs (which include interest costs, expected return on plan assets, amortization of prior service cost or credits and actuarial gains and losses) separately and outside a subtotal of operating income. As this ASU required application on a retrospective basis, the Company reclassified the prior period presentation of the noncontributory defined benefit pension plans for the adoption of this ASU. The net periodic benefit cost of the noncontributory defined benefit pension plans incurred during the years ended December 31, 2019, 2018 and 2017 are reflected in the following captions in the accompanying Consolidated Statements of Earnings ($ in millions):



	Year Ended December 31
	2019			2018			2017
Service cost:
Cost of sales	$	(6.1	)	$	(11.4	)	$	(8.2	)
Selling, general and administrative expenses	(25.3		)	(20.9		)	(23.8		)
Total service cost expense	(31.4		)	(32.3		)	(32.0		)
Other net periodic pension costs:
Nonoperating income (expense), net	15.2			37.0			32.9
Total (expense) income	$	(16.2	)	$	4.7		$	0.9

Weighted average assumptions used to determine net periodic pension (cost) benefit at date of measurement:



	U.S. Plans				Non-U.S. Plans
	2019		2018		2019		2018
Discount rate	4.3	%	3.6	%	2.1	%	1.9	%
Expected long-term return on plan assets	7.0	%	7.0	%	3.9	%	4.0	%
Rate of compensation increase	4.0	%	4.0	%	2.4	%	2.4	%

The discount rate reflects the market rate on December 31 of the prior year for high-quality fixed-income investments with maturities corresponding to the Company’s benefit obligations and is subject to change each year. For non-U.S. plans, rates appropriate for each plan are determined based on investment-grade instruments with maturities approximately equal to the average expected benefit payout under the plan. During both 2019 and 2018, the Company updated the mortality assumptions used to estimate the projected benefit obligation to reflect updated mortality tables.

Included in accumulated other comprehensive income (loss) as of December 31, 2019 are the following amounts that have not yet been recognized in net periodic pension cost: unrecognized prior service credit of $4 million ($4 million, net of tax) and unrecognized actuarial losses of approximately $1.0 billion ($789 million, net of tax). The unrecognized losses and prior service cost, net, is calculated as the difference between the actuarially determined projected benefit obligation and the value of the plan assets less accrued pension costs as of December 31, 2019. The prior service cost and actuarial losses included in accumulated other comprehensive income (loss) and expected to be recognized in net periodic pension costs during the year ending December 31, 2020 is $0.2 million ($0.2 million, net of tax) and $46 million ($36 million, net of tax), respectively. No plan assets are expected to be returned to the Company during the year ending December 31, 2020.

Selection of Expected Rate of Return on Assets

For the years ended December 31, 2019, 2018 and 2017, the Company used an expected long-term rate of return assumption of 7.0% for its U.S. defined benefit pension plan. The Company intends to use an expected long-term rate of return assumption of 7.0% for 2020 for its U.S. plan. This expected rate of return reflects the asset allocation of the plan, and is based primarily on broad, publicly-traded equity and fixed-income indices and forward-looking estimates of active portfolio and investment management. Long-term rate of return on asset assumptions for the non-U.S. plans were determined on a plan-by-plan basis based on the composition of assets and ranged from 0.8% to 5.0% in 2019 and 1.0% to 5.0% in 2018, with a weighted average rate of return assumption of 3.9% in 2019 and 4.0% in 2018.

Plan Assets

The U.S. plan’s goal is to maintain between 60% and 70% of its assets in equity portfolios, which are invested in individual equity securities or funds that are expected to mirror broad market returns for equity securities or in assets with characteristics

similar to equity investments, such as venture capital funds and partnerships. Asset holdings are periodically rebalanced when equity holdings are outside this range. The balance of the U.S. plan asset portfolio is invested in bond funds, real estate funds, various absolute and real return funds and private equity funds. Non-U.S. plan assets are invested in various insurance contracts, equity and debt securities as determined by the administrator of each plan. The value of the plan assets directly affects the funded status of the Company’s pension plans recorded in the Consolidated Financial Statements.

The Company has some investments that are valued using Net Asset Value (“NAV”) as the practical expedient. In addition, some of the investments valued using NAV as the practical expedient have limits on their redemption to monthly, quarterly, semiannually or annually and require up to 90 days prior written notice. These investments valued using NAV consist of mutual funds, venture capital funds, partnerships, and other private investments, which allow the Company to allocate investments across a broad array of types of funds and diversify the portfolio. The Company adopted ASU 2018-09 on a prospective basis on January 1, 2019, which removes common/collective trusts from the fair value hierarchy. As of January 1, 2019, assets previously classified as common/collective trusts are now classified as mutual funds.

The fair values of the Company’s pension plan assets for both the U.S. and non-U.S. plans as of December 31, 2019, by asset category were as follows ($ in millions):



	Quoted Prices in Active Market (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Cash and equivalents	$	68.0	$	—	$	—	$	68.0
Equity securities:
Common stock	390.6		—		—		390.6
Preferred stock	6.0		—		—		6.0
Fixed income securities:
Corporate bonds	—		35.2		—		35.2
Government issued	—		22.3		—		22.3
Mutual funds	286.7		131.6		—		418.3
Insurance contracts	—		298.9		—		298.9
Total	$	751.3	$	488.0	$	—	1,239.3
Investments measured at NAV ^(a):
Mutual funds							1,070.6
Venture capital, partnerships and other private investments							694.3
Total assets at fair value							$	3,004.2


^(a)	The fair value amounts presented in the table above are intended to permit reconciliation of the fair value hierarchy to the total plan assets.

The fair values of the Company’s pension plan assets for both the U.S. and non-U.S. plans as of December 31, 2018, by asset category were as follows ($ in millions):



	Quoted Prices in Active Market (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Cash and equivalents	$	29.4	$	—	$	—	$	29.4
Equity securities:
Common stock	355.7		—		—		355.7
Preferred stock	4.6		—		—		4.6
Fixed income securities:
Corporate bonds	—		71.8		—		71.8
Government issued	—		32.8		—		32.8
Mutual funds	284.6		205.2		—		489.8
Insurance contracts	—		312.0		—		312.0
Total	$	674.3	$	621.8	$	—	1,296.1
Investments measured at NAV ^(a):
Mutual funds							1,122.0
Venture capital, partnerships and other private investments							391.9
Total assets at fair value							$	2,810.0


^(a)	The fair value amounts presented in the table above are intended to permit reconciliation of the fair value hierarchy to the total plan assets.

Preferred stock and common stock traded on an active market, as well as mutual funds are valued at the quoted closing price reported on the active market on which the individual securities are traded. Preferred stock, common stock, corporate bonds, U.S. government securities and mutual funds that are not traded on an active market are valued at quoted prices reported by investment brokers and dealers based on the underlying terms of the security and comparison to similar securities traded on an active market. Insurance contracts are valued based upon the quoted prices of the underlying investments with the insurance company.

Common/collective trusts are valued based on the plan’s interest, represented by investment units, in the underlying investments held within the trust that are traded in an active market by the trustee. As of January 1, 2019, assets previously classified as common/collective trusts are classified as mutual funds in accordance with ASU 2018-09.

Venture capital, partnerships and other private investments are valued using the NAV based on the information provided by the asset fund managers, which reflects the plan’s share of the fair value of the net assets of the investment. Depending on the nature of the assets, the underlying investments are valued using a combination of either discounted cash flows, earnings and market multiples, third-party appraisals or through reference to the quoted market prices of the underlying investments held by the venture, partnership or private entity where available. Valuation adjustments reflect changes in operating results, financial condition, or prospects of the applicable portfolio company.

The methods described above may produce a fair value estimate that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while the Company believes the valuation methods are appropriate and consistent with the methods used by other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date.

Expected Contributions

During 2019, the Company contributed $10 million to its U.S. defined benefit pension plan and $44 million to its non-U.S. defined benefit pension plans. During 2020, the Company’s cash contribution requirements for its U.S. and its non-U.S. defined benefit pension plans are expected to be approximately $95 million and $40 million, respectively.

The following sets forth benefit payments, which reflect expected future service, as appropriate, expected to be paid by the plans in the periods indicated ($ in millions):



	U.S. Pension Plans		Non-U.S. Pension Plans		All Pension Plans
2020	$	173.4	$	44.9	$	218.3
2021	173.9		45.0		218.9
2022	173.3		46.2		219.5
2023	172.5		48.3		220.8
2024	169.7		49.1		218.8
2025 - 2029	778.4		274.8		1,053.2

Other Matters

Substantially all employees not covered by defined benefit plans are covered by defined contribution plans, which generally provide for Company funding based on a percentage of compensation.

A limited number of the Company’s subsidiaries participate in multiemployer defined benefit and contribution plans, primarily outside of the United States, that require the Company to periodically contribute funds to the plan. The risks of participating in a multiemployer plan differ from the risks of participating in a single-employer plan in the following respects: (1) assets contributed to the multiemployer plan by one employer may be used to provide benefits to employees of other participating employers, (2) if a participating employer ceases contributing to the plan, the unfunded obligations of the plan may be required to be borne by the remaining participating employers and (3) if the Company elects to stop participating in the plan, the Company may be required to pay the plan an amount based on the unfunded status of the plan. None of the multiemployer plans in which the Company’s subsidiaries participate are considered to be quantitatively or qualitatively significant, either individually or in the aggregate. In addition, contributions made to these plans during 2019, 2018 and 2017 were not considered significant, either individually or in the aggregate.

The Company’s net periodic pension cost for the year ended December 31, 2019 includes a settlement loss of $7 million ($6 million after tax or $0.01 per diluted share) as a result of the transfer of a portion of its non-U.S. pension liabilities related to one defined benefit plan to a third party. Expense for all defined benefit and defined contribution pension plans amounted to $203 million, $167 million and $159 million for the years ended December 31, 2019, 2018 and 2017, respectively.

Other Postretirement Employee Benefit Plans

12 Months Ended

Dec. 31, 2019

Defined Contribution Plan [Abstract]

Other Postretirement Employee Benefit Plans

OTHER POSTRETIREMENT EMPLOYEE BENEFIT PLANS

In addition to providing pension benefits, the Company provides certain health care and life insurance benefits for some of its retired employees in the United States. Certain employees may become eligible for these benefits as they reach normal retirement age while working for the Company.

The following sets forth the funded status of the domestic plans as of the most recent actuarial valuations using measurement dates of December 31 ($ in millions):



	2019			2018
Change in benefit obligation:
Benefit obligation at beginning of year	$	(141.6	)	$	(155.1	)
Service cost	(0.4		)	(0.4		)
Interest cost	(5.3		)	(5.0		)
Amendments, curtailments and other	(0.1		)	(5.3		)
Actuarial (loss) gain	(4.2		)	8.4
Retiree contributions	(1.7		)	(2.6		)
Benefits paid	14.4			18.4
Benefit obligation at end of year	(138.9		)	(141.6		)
Change in plan assets:
Fair value of plan assets	—			—
Funded status	$	(138.9	)	$	(141.6	)

As of December 31, 2019 and 2018, $123 million and $129 million, respectively, of the total underfunded status of the plan was recognized as long-term accrued postretirement liability since it was not expected to be funded within one year.

Weighted average assumptions used to determine benefit obligations at date of measurement:



	2019		2018
Discount rate	3.1	%	4.2	%
Medical trend rate – initial	5.7	%	6.0	%
Medical trend rate – grading period	18 years		19 years
Medical trend rate – ultimate	4.5	%	4.5	%

Effect of a one-percentage-point change in assumed health care cost trend rates:



($ in millions)	1% Increase		1% Decrease
Effect on the total of service and interest cost components	$	0.1	$	(0.1	)
Effect on postretirement medical benefit obligation	2.1		(1.8		)

The medical trend rate used to determine the postretirement benefit obligation was 5.7% for 2019. The rate decreases gradually to an ultimate rate of 4.5% in 2037 and remains at that level thereafter. The trend rate is a significant factor in determining the amounts reported.

Components of net periodic benefit cost:



($ in millions)	2019			2018
Service cost	$	(0.4	)	$	(0.4	)
Interest cost	(5.3		)	(5.0		)
Amortization of prior service credit	2.1			2.5
Net periodic benefit cost	$	(3.6	)	$	(2.9	)

In the first quarter of 2018, the Company adopted ASU No. 2017-07, which requires the Company to disaggregate the service cost component from other components of net periodic benefit costs and report the service cost component in the same line item as other compensation costs and the other components of net periodic benefit costs (which include interest costs, expected return on plan assets, amortization of prior service cost or credits and actuarial gains and losses) separately and outside a subtotal of operating income. As this ASU required application on a retrospective basis, the Company reclassified the prior period presentation of the other postretirement employee benefit plans for the adoption of this ASU. The net periodic benefit cost of the other postretirement employee benefit plans incurred during the years ended December 31, 2019, 2018 and 2017 are reflected in the following captions in the accompanying Consolidated Statements of Earnings ($ in millions):



	Year Ended December 31
	2019			2018			2017
Service cost:
Cost of sales	$	(0.1	)	$	(0.1	)	$	(0.1	)
Selling, general and administrative expenses	(0.3		)	(0.3		)	(0.6		)
Total service cost	(0.4		)	(0.4		)	(0.7		)
Other net periodic pension costs:
Nonoperating income (expense), net	(3.2		)	(2.5		)	(2.2		)
Total	$	(3.6	)	$	(2.9	)	$	(2.9	)

Included in accumulated other comprehensive income (loss) as of December 31, 2019 are the following amounts that have not yet been recognized in net periodic benefit cost: unrecognized prior service credits of $16 million ($12 million, net of tax) and unrecognized actuarial losses of $13 million ($9 million, net of tax). The unrecognized losses and prior service credits, net, is calculated as the difference between the actuarially determined projected benefit obligation and the value of the plan assets less accrued benefit costs as of December 31, 2019. The prior service credits included in accumulated other comprehensive income

(loss) and expected to be recognized in net periodic benefit costs during the year ending December 31, 2020 are $2 million ($2 million, net of tax). The actuarial losses included in accumulated other comprehensive income (loss) and expected to be recognized in net periodic benefit costs during the year ending December 31, 2020 are not material.

The following sets forth benefit payments, which reflect expected future service, as appropriate, expected to be paid in the periods indicated ($ in millions):



2020	$	15.8
2021	13.9
2022	12.6
2023	11.6
2024	10.9
2025 - 2029	47.0

Income Taxes

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Income Taxes

INCOME TAXES

Earnings from continuing operations before income taxes for the years ended December 31 were as follows ($ in millions):



	2019		2018		2017
United States	$	854.1	$	801.3	$	760.2
International	2,451.2		2,160.6		1,783.0
Total	$	3,305.3	$	2,961.9	$	2,543.2

The provision for income taxes from continuing operations for the years ended December 31 were as follows ($ in millions):



	2019			2018			2017
Current:
Federal U.S.	$	453.7		$	283.0		$	395.7
Non-U.S.	799.9			460.4			418.1
State and local	34.6			64.4			(14.3		)
Deferred:
Federal U.S.	(297.1		)	(200.6		)	(400.5		)
Non-U.S.	(127.7		)	(12.3		)	(84.8		)
State and local	9.6			(39.3		)	56.8
Income tax provision	$	873.0		$	555.6		$	371.0

Noncurrent deferred tax assets and noncurrent deferred tax liabilities are included in other assets and other long-term liabilities, respectively, in the accompanying Consolidated Balance Sheets. Deferred income tax assets for discontinued operations as of December 31, 2018 were $131 million and consisted primarily of tax credit and loss carryforwards and other accruals and prepayments, net of valuation allowances. Deferred income tax liabilities for discontinued operations as of December 31, 2018 were $333 million and consisted primarily of goodwill and other intangibles. The deferred income tax assets and liabilities for discontinued operations as of December 31, 2018 are included in the table below. The net deferred income tax liability for the year ended December 31, 2018, was $202 million and is reflected in other assets, discontinued operations and other long-term liabilities, discontinued operations in the accompanying Consolidated Balance Sheet. Deferred income tax assets and liabilities as of December 31 were as follows ($ in millions):



	2019			2018
Deferred tax assets:
Allowance for doubtful accounts	$	19.1		$	19.7
Inventories	73.3			81.2
Pension and postretirement benefits	231.3			222.7
Environmental and regulatory compliance	22.1			22.4
Other accruals and prepayments	194.6			223.7
Stock-based compensation expense	68.5			64.7
Operating lease liabilities	193.7			—
Tax credit and loss carryforwards	703.4			894.5
Valuation allowances	(261.2		)	(389.6		)
Total deferred tax asset	1,244.8			1,139.3
Deferred tax liabilities:
Property, plant and equipment	(113.5		)	(90.0		)
Insurance, including self-insurance	(272.3		)	(564.0		)
Basis difference in LYONs	(13.8		)	(21.6		)
Operating lease ROU assets	(185.7		)	—
Goodwill and other intangibles	(2,311.7		)	(2,774.9		)
Total deferred tax liability	(2,897.0		)	(3,450.5		)
Net deferred tax liability	$	(1,652.2	)	$	(2,311.2	)

The Company evaluates the future realizability of tax credits and loss carryforwards considering the anticipated future earnings of the Company’s subsidiaries as well as tax planning strategies in the associated jurisdictions. Deferred taxes associated with U.S. entities consist of net deferred tax liabilities of approximately $1.6 billion and $2.0 billion as of December 31, 2019 and 2018, respectively. Deferred taxes associated with non-U.S. entities consist of net deferred tax liabilities of $90 million and $277 million as of December 31, 2019 and 2018, respectively. During 2019, the Company’s valuation allowance decreased by $128 million primarily due to deferred tax assets and associated valuation allowance transferred due to the Envista Disposition, as well as release of a valuation allowance in a certain foreign jurisdiction, partially offset by certain tax benefits recognized in 2019 that are not expected to be realized. As of December 31, 2019, the total amount of the basis difference in investments outside the United States for which deferred taxes have not been provided is approximately $9.6 billion. The income taxes applicable to repatriating such earnings are not readily determinable. As of December 31, 2019, the Company had no plans which would subject these basis differences to income taxes in the United States or elsewhere.

On December 22, 2017, the TCJA was enacted, substantially changing the U.S. tax system. Under the SEC Staff Accounting Bulletin No. 118 (“SAB No. 118”) guidance, for the year ended December 31, 2017, the Company recorded provisional amounts in earnings for the effects of the enactment of the TCJA and during 2018, the Company completed its accounting for the TCJA based on the Company’s interpretation of the new tax regulations and related guidance issued by the U.S. Department of the Treasury and the Internal Revenue Service (“IRS”).

The TCJA imposes tax on U.S. shareholders for global intangible low-taxed income (“GILTI”) earned by certain foreign subsidiaries. The Company has elected the period cost method for its accounting for GILTI.

Due to the complexity and recent issuance of these tax regulations, management’s interpretations of the impact of these rules could be subject to challenge by the taxing authorities.

The effective income tax rate from continuing operations for the years ended December 31 varies from the U.S. statutory federal income tax rate as follows:



	Percentage of Pretax Earnings
	2019		2018		2017
Statutory federal income tax rate	21.0	%	21.0	%	35.0	%
Increase (decrease) in tax rate resulting from:
State income taxes (net of federal income tax benefit)	0.8	%	0.9	%	0.8	%
Foreign rate differential	(1.4	)%	(0.9	)%	(12.7	)%
Resolution and expiration of statutes of limitation of uncertain tax positions	(2.1	)%	(1.7	)%	(7.2	)%
Permanent foreign exchange losses	—	%	—	%	(0.8	)%
Research credits, uncertain tax positions and other	8.1	%	(0.7	)%	(0.5	)%
TCJA - revaluation of U.S. deferred income taxes	—	%	(1.6	)%	(47.9	)%
TCJA - Transition Tax	—	%	1.8	%	47.9	%
Effective income tax rate	26.4	%	18.8	%	14.6	%

The Company’s effective tax rate for 2019, 2018 and 2017 differs from the U.S. federal statutory rates of 21.0% in 2019 and 2018 and 35.0% in 2017, due principally to the Company’s earnings outside the United States that are indefinitely reinvested and taxed at rates different than the U.S. federal statutory rate. In addition:

•

The effective tax rate of 26.4% in 2019 includes 650 basis points of tax charges primarily related to changes in estimates associated with prior period uncertain tax positions, audit settlements, and Envista Disposition costs, net of the release of reserves for uncertain tax positions due to the expiration of statutes of limitation, release of valuation allowances associated with certain foreign tax credits, tax benefits resulting from changes in tax law and excess tax benefits from stock-based compensation.

•

The effective tax rate of 18.8% in 2018 includes 120 basis points of tax benefits primarily related to the release of reserves upon the expiration of statutes of limitation, audit settlements and release of a valuation allowance in a certain foreign tax jurisdiction. These tax benefits were partially offset by additional provisions related to completing the accounting for the enactment of the TCJA and tax costs directly related to reorganization activities associated with the Envista Disposition.

•

The effective tax rate of 14.6% in 2017 includes 560 basis points of net tax benefits due to the revaluation of deferred tax liabilities from 35.0% to 21.0% due to the TCJA and the release of reserves upon statute of limitation expiration, partially offset by income tax expense related to the Transition Tax on foreign earnings due to the TCJA and changes in estimates associated with prior period uncertain tax positions.

The Company made income tax payments related to both continuing and discontinued operations of $847 million, $673 million and $689 million in 2019, 2018 and 2017, respectively. Current income taxes payable related to both continuing and discontinued operations has been reduced by $79 million, $57 million and $85 million in 2019, 2018 and 2017, respectively, for tax deductions attributable to stock-based compensation, of which, the excess tax benefit over the amount recorded for financial reporting purposes for both continuing and discontinued operations was $55 million, $38 million and $55 million, respectively. As a result of the adoption of ASU 2016-09, Compensation—Stock Compensation, the excess tax benefits for the years ended December 31, 2019, 2018 and 2017 have been recorded as reductions to the current income tax provision and are reflected as operating cash inflows in the accompanying Consolidated Statements of Cash Flows.

Included in deferred income taxes related to continuing operations as of December 31, 2019 are tax benefits for U.S. and non-U.S. net operating loss carryforwards totaling $504 million ($162 million of which the Company does not expect to realize and have corresponding valuation allowances). Certain of the losses can be carried forward indefinitely and others can be carried forward to various dates from 2020 through 2039. In addition, the Company had general business and foreign tax credit carryforwards related to continuing operations of $199 million ($67 million of which the Company does not expect to realize and have corresponding valuation allowances) as of December 31, 2019, which can be carried forward to various dates from 2020 to 2029. In addition, as of December 31, 2019, the Company had $32 million of valuation allowances related to other deferred tax asset balances that are not more likely than not of being realized.

As of December 31, 2019, gross unrecognized tax benefits related to continuing operations totaled approximately $1.2 billion (approximately $1.4 billion, net of the impact of $131 million of indirect tax benefits offset by $320 million associated with

potential interest and penalties). As of December 31, 2018, gross unrecognized tax benefits related to both continuing and discontinued operations totaled $986 million ($988 million, net of the impact of $117 million of indirect tax benefits offset by $119 million associated with potential interest and penalties). The Company recognized approximately $227 million, $41 million and $41 million in potential interest and penalties related to both continuing and discontinued operations associated with uncertain tax positions during 2019, 2018 and 2017, respectively. To the extent unrecognized tax benefits (including interest and penalties) are recognized with respect to uncertain tax positions, approximately $1.3 billion would reduce the tax expense and effective tax rate in future periods. The Company recognized interest and penalties related to unrecognized tax benefits within income taxes in the accompanying Consolidated Statements of Earnings. Unrecognized tax benefits and associated accrued interest and penalties are included in taxes, income and other accrued expenses as detailed in Note 10.

A reconciliation of the beginning and ending amount of unrecognized tax benefits, excluding amounts accrued for potential interest and penalties related to both continuing and discontinued operations, is as follows ($ in millions):



	2019			2018			2017
Unrecognized tax benefits, beginning of year	$	986.0		$	736.8		$	992.2
Additions based on tax positions related to the current year	71.0			43.1			53.0
Additions for tax positions of prior years	197.3			324.3			39.8
Reductions for tax positions of prior years	(15.8		)	(21.9		)	(14.5		)
Acquisitions, divestitures and other	6.8			9.4			13.4
Lapse of statute of limitations	(51.5		)	(52.9		)	(246.7		)
Settlements	(12.2		)	(41.8		)	(124.8		)
Effect of foreign currency translation	(0.7		)	(11.0		)	24.4
Unrecognized tax benefits, end of year	$	1,180.9		$	986.0		$	736.8

The Company conducts business globally, and files numerous consolidated and separate income tax returns in the U.S. federal, state and foreign jurisdictions. The non-U.S. countries in which the Company has a significant presence include China, Denmark, Germany, Singapore, Switzerland and the United Kingdom. The Company believes that a change in the statutory tax rate of any individual foreign country would not have a material effect on the Company’s Consolidated Financial Statements given the geographic dispersion of the Company’s taxable income.

The Company and its subsidiaries are routinely examined by various domestic and international taxing authorities. The IRS has completed substantially all of the examinations of the Company’s federal income tax returns through 2011 and is currently examining certain of the Company’s federal income tax returns for 2012 through 2017. In addition, the Company has subsidiaries in Austria, Belgium, Canada, China, Denmark, France, Germany, Hong Kong, India, Italy, Japan, Korea, Switzerland, the United Kingdom and various other countries, states and provinces that are currently under audit for years ranging from 2004 through 2018.

In the fourth quarter of 2018 and the first quarter of 2019, the IRS proposed significant adjustments to the Company’s taxable income for the years 2012 through 2015 with respect to the deferral of tax on certain premium income related to the Company’s self-insurance programs. For income tax purposes, the recognition of premium income has been deferred in accordance with U.S. tax laws related to insurance. The IRS is challenging the deferral of premiums for certain types of the Company’s self-insurance policies. The proposed adjustments would increase the Company’s taxable income over the 2012 through 2015 period by approximately $2.7 billion. Management believes the positions the Company has taken in its U.S. tax returns are in accordance with the relevant tax laws and intends to vigorously defend these positions. Due to the enactment of the TCJA in 2017 and the resulting reduction in the U.S. corporate tax rate for years after 2017, the Company revalued its deferred tax liabilities related to the temporary differences associated with this deferred premium income from 35.0% to 21.0%. If the Company is not successful in defending these assessments, the taxes owed to the IRS may be computed under the previous 35.0% statutory tax rate and the Company may be required to revalue the related deferred tax liabilities from 21.0% to 35.0%, which in addition to any interest due on the amounts assessed, would require a charge to future earnings. The ultimate resolution of this matter is uncertain, could take many years and could result in a material adverse impact to the Company’s financial statements, including its cash flows and effective tax rate.

Tax authorities in Denmark have raised significant issues related to interest accrued by certain of the Company’s subsidiaries. On December 10, 2013, the Company received assessments from the Danish tax authority (“SKAT”) of approximately DKK 1.8 billion (approximately $266 million based on exchange rates as of December 31, 2019) including interest through December 31, 2019, imposing withholding tax relating to interest accrued in Denmark on borrowings from certain of the Company’s subsidiaries for the years 2004-2009. The Company appealed these assessments to the Danish National Tax

Tribunal in 2014. The appeal is pending, awaiting the final outcome of other, preceding withholding tax cases that were appealed to the Danish courts and subsequently to the Court of Justice of the European Union (“CJEU”). In February 2019, the CJEU decided several of these cases and ruled that the exemption of interest payments from withholding taxes provided in the applicable European Union (“EU”) directive should be denied where taxpayers use the directive for abusive or fraudulent purposes, and that it is up to the national courts to make this determination. This decision of the CJEU now awaits application by the Danish High Court in the other, preceding withholding tax cases.

SKAT has maintained a similar position related to withholding tax on interest accrued in Denmark on borrowings from certain of the Company’s subsidiaries with respect to tax years 2010-2012 and 2013-2015. On August 27, 2019 and December 16, 2019, the Company received assessments for these matters of approximately DKK 1.1 billion including interest through December 31, 2019 (approximately $159 million based on the exchange rate as of December 31, 2019) for tax years 2010-2012 and DKK 751 million including interest through December 31, 2019 (approximately $113 million based on the exchange rate as of December 31, 2019) for tax years 2013-2015, respectively. The Company is appealing these assessments as well. Management believes the positions the Company has taken in Denmark are in accordance with the relevant tax laws and is vigorously defending its positions. The Company intends on pursuing this matter through the Danish High Court should the appeal to the Danish National Tax Tribunal be unsuccessful. The Company will continue to monitor decisions of both the Danish courts and the CJEU and evaluate the impact of these court rulings on the Company’s tax positions in Denmark. The ultimate resolution of this matter is uncertain, could take many years, and could result in a material adverse impact to the Company’s financial statements, including its cash flow and effective tax rate.

Management estimates that it is reasonably possible that the amount of unrecognized tax benefits related to continuing operations may be reduced by approximately $368 million within 12 months as a result of resolution of worldwide tax matters, payments of tax audit settlements and/or statute of limitations expirations. Future resolution of uncertain tax positions related to discontinued operations may result in additional charges or credits to earnings from discontinued operations in the Consolidated Statements of Earnings (refer to Note 4).

The Company operates in various non-U.S. jurisdictions where income tax incentives and rulings have been granted for specific periods of time. In Switzerland, the Company has various tax rulings and tax holiday arrangements which reduce the overall effective tax rate of the Company. The tax holidays expire between 2019 and 2022. In Singapore, the Company operates under various tax incentive agreements that provide for reduced tax rates. Subject to the Company satisfying certain requirements, the agreements expire in 2022. The Company has satisfied the conditions enumerated in these agreements to date. Included in the accompanying Consolidated Financial Statements are tax benefits of $71 million, $69 million, and $62 million (or $0.10, $0.10, and $0.09 per diluted share) for 2019, 2018, and 2017, respectively, from these rulings and tax holidays.

Nonoperating Income (Expense)	12 Months Ended
Nonoperating Income (Expense)	Dec. 31, 2019
Other Income and Expenses [Abstract]
Nonoperating Income (Expense)	NONOPERATING INCOME (EXPENSE) As described in Notes 1, 13 and 14, in the first quarter of 2018, the Company adopted ASU No. 2017-07. The ASU requires the Company to disaggregate the service cost component from the other components of net periodic benefit costs and requires the Company to present the other components of net periodic benefit cost in other income, net. The ASU required application on a retrospective basis. As a result of adopting this ASU, the Company classified $12 million, $35 million and $31 million of net pension and postretirement benefits as other income as of December 31, 2019, 2018 and 2017, respectively. The Company’s net periodic pension cost for the year ended December 31, 2019 includes a settlement loss of $7 million ($6 million after tax or $0.01 per diluted share) as a result of the transfer of a portion of its non-U.S. pension liabilities related to one defined benefit plan to a third party. In the fourth quarter of 2019, Danaher used a portion of the consideration received from Envista to redeem $882 million in aggregate principal amount of outstanding indebtedness (consisting of the Company’s 2.4% senior unsecured notes due 2020 and 5.0% senior unsecured notes due 2020). The Company incurred make-whole premiums in connection with the redemption of $7 million ($5 million after-tax or $0.01 per diluted share). The Company received $138 million of cash proceeds and recorded $22 million in short-term other receivables from the sale of certain marketable equity securities during 2017. The Company recorded a pretax gain related to this sale of $73 million ($46 million after-tax or $0.06 per diluted share).

Commitments

12 Months Ended

Dec. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

Commitments

COMMITMENTS

Warranties

The Company generally accrues estimated warranty costs at the time of sale. In general, manufactured products are warranted against defects in material and workmanship when properly used for their intended purpose, installed correctly and appropriately maintained. Warranty periods depend on the nature of the product and range from the date of such sale up to ten years. The amount of the accrued warranty liability is determined based on historical information such as past experience, product failure rates or number of units repaired, estimated cost of material and labor and in certain instances estimated property damage. The accrued warranty liability is reviewed on a quarterly basis and may be adjusted as additional information regarding expected warranty costs becomes known.

The following is a rollforward of the Company’s accrued warranty liability ($ in millions):



	2019			2018
Balance, January 1	$	67.7		$	68.2
Accruals for warranties issued during the year	48.7			46.0
Settlements made	(43.0		)	(44.6		)
Effect of foreign currency translation	(0.1		)	(1.9		)
Balance, December 31	$	73.3		$	67.7

Purchase Obligations

The Company has entered into agreements to purchase goods or services that are enforceable and legally binding on the Company and that specify all significant terms, including fixed or minimum quantities to be purchased, fixed, minimum or variable price provisions and the approximate timing of the transaction. Purchase obligations exclude agreements that are cancellable at any time without penalty. As of December 31, 2019, the aggregate amount of the Company’s purchase obligations totaled $594 million and the majority of these obligations are expected to be settled during 2020.

Litigation And Contingencies	12 Months Ended
Litigation And Contingencies	Dec. 31, 2019
Loss Contingency [Abstract]
Litigation And Contingencies	LITIGATION AND CONTINGENCIES The Company is subject to a variety of litigation and other legal and regulatory proceedings incidental to its business (or the business operations of previously owned entities), including claims or counterclaims for damages arising out of the use of products or services and claims relating to intellectual property matters, employment matters, tax matters, commercial disputes, breach of contract claims, competition and sales and trading practices, environmental matters, personal injury, insurance coverage and acquisition or divestiture-related matters, as well as regulatory subpoenas, requests for information, investigations and enforcement. The Company may also become subject to lawsuits as a result of past or future acquisitions or as a result of liabilities retained from, or representations, warranties or indemnities provided in connection with, divested businesses. The types of claims made in lawsuits include claims for compensatory damages, punitive and consequential damages (and in some cases, treble damages) and/or injunctive relief. While the Company maintains general, products, property, workers’ compensation, automobile, cargo, aviation, crime, fiduciary and directors’ and officers’ liability insurance (and has acquired rights under similar policies in connection with certain acquisitions) up to certain limits that cover certain of these claims, this insurance may be insufficient or unavailable to cover such losses. For general, products and property liability and most other insured risks, the Company purchases outside insurance coverage only for severe losses and must establish and maintain reserves with respect to amounts within the self-insured retention. In addition, while the Company believes it is entitled to indemnification from third-parties for some of these claims, these rights may also be insufficient or unavailable to cover such losses. The Company records a liability in the Consolidated Financial Statements for loss contingencies when a loss is known or considered probable and the amount can be reasonably estimated. If the reasonable estimate of a known or probable loss is a range, and no amount within the range is a better estimate than any other, the minimum amount of the range is accrued. If a loss does not meet the known or probable level but is reasonably possible it is disclosed and if the loss or range of loss can be reasonably estimated, the estimated loss or range of loss is disclosed. The Company’s reserves consist of specific reserves for individual claims and additional amounts for anticipated developments of these claims as well as for incurred but not yet reported claims. The specific reserves for individual known claims are quantified with the assistance of legal counsel and outside risk professionals where appropriate. In addition, outside risk professionals assist in the determination of reserves for incurred but not yet reported claims through evaluation of the Company’s specific loss history, actual claims reported and industry trends among statistical and other factors. Reserve estimates may be adjusted as additional information regarding a claim becomes known. Because most contingencies are resolved over long periods of time, liabilities may change in the future due to new developments (including litigation developments, the discovery of new facts, changes in legislation and outcomes of similar cases), changes in assumptions or changes in the Company’s strategy. While the Company actively pursues financial recoveries from insurance providers and indemnifying parties, it does not recognize any recoveries until realized or until such time as a sustained pattern of collections is established related to historical matters of a similar nature and magnitude. If the Company’s self-insurance and litigation reserves prove inadequate, it would be required to incur an expense equal to the amount of the loss incurred in excess of the reserves, which would adversely affect the Company’s Consolidated Financial Statements. In addition, the Company’s operations, products and services are subject to environmental laws and regulations, which impose limitations on the discharge of pollutants into the environment, establish standards for the use, generation, treatment, storage and disposal of hazardous and nonhazardous wastes and impose end-of-life disposal and take-back programs. A number of the Company’s operations involve the handling, manufacturing, use or sale of substances that are or could be classified as hazardous materials within the meaning of applicable laws. The Company must also comply with various health and safety regulations in both the United States and abroad in connection with the Company’s operations. Compliance with these laws and regulations has not had and, based on current information and the applicable laws and regulations currently in effect, is not expected to have a material effect on the Company’s capital expenditures, earnings or competitive position, and the Company does not anticipate material capital expenditures for environmental control facilities. In addition to environmental compliance costs, the Company from time to time incurs costs related to alleged damages associated with past or current waste disposal practices or other hazardous materials handling practices. For example, generators of hazardous substances found in disposal sites at which environmental problems are alleged to exist, as well as the current and former owners of those sites and certain other classes of persons, are subject to claims brought by state and federal regulatory agencies pursuant to statutory authority. The Company has received notification from the U.S. Environmental Protection Agency, and from state and non-U.S. environmental agencies, that conditions at certain sites where the Company and others previously disposed of hazardous wastes and/or are or were property owners require clean-up and other possible remedial action, including sites where the Company has been identified as a potentially responsible party under U.S. federal and state environmental laws. The Company has projects underway at a number of current and former facilities, in both the United States and abroad, to investigate and remediate environmental contamination resulting from past operations. Remediation activities generally relate to soil and/or groundwater contamination and may include pre-remedial activities such as fact-finding and investigation, risk assessment, feasibility study and/or design, as well as remediation actions such as contaminant removal, monitoring and/or installation, operation and maintenance of longer-term remediation systems. The Company is also from time to time party to personal injury or other claims brought by private parties alleging injury due to the presence of, or exposure to, hazardous substances. The Company has recorded a provision for environmental investigation and remediation and environmental-related claims with respect to sites owned or formerly owned by the Company and its subsidiaries and third-party sites where the Company has been determined to be a potentially responsible party. The Company generally makes an assessment of the costs involved for its remediation efforts based on environmental studies, as well as its prior experience with similar sites. The ultimate cost of site cleanup is difficult to predict given the uncertainties of the Company’s involvement in certain sites, uncertainties regarding the extent of the required cleanup, the availability of alternative cleanup methods, variations in the interpretation of applicable laws and regulations, the possibility of insurance recoveries with respect to certain sites and the fact that imposition of joint and several liability with right of contribution is possible under the Comprehensive Environmental Response, Compensation and Liability Act of 1980 and other environmental laws and regulations. If the Company determines that potential liability for a particular site or with respect to a personal injury claim is known or considered probable and reasonably estimable, the Company accrues the total estimated loss, including investigation and remediation costs, associated with the site or claim. As of December 31, 2019, the Company had a reserve of $126 million for environmental matters which are known or considered probable and reasonably estimable (of which $89 million are noncurrent), which reflects the Company’s best estimate of the costs to be incurred with respect to such matters. While the Company actively pursues insurance recoveries, as well as recoveries from other potentially responsible parties, it does not recognize any insurance recoveries for environmental liability claims until realized or until such time as a sustained pattern of collections is established related to historical matters of a similar nature and magnitude. The Company’s Restated Certificate of Incorporation requires it to indemnify to the full extent authorized or permitted by law any person made, or threatened to be made a party to any action or proceeding by reason of his or her service as a director or officer of the Company, or by reason of serving at the request of the Company as a director or officer of any other entity, subject to limited exceptions. Danaher’s Amended and Restated By-laws provide for similar indemnification rights. In addition, Danaher has executed with each director and executive officer of Danaher Corporation an indemnification agreement which provides for substantially similar indemnification rights and under which Danaher has agreed to pay expenses in advance of the final disposition of any such indemnifiable proceeding. While the Company maintains insurance for this type of liability, a significant deductible applies to this coverage and any such liability could exceed the amount of the insurance coverage. As of December 31, 2019, the Company had approximately $576 million of guarantees consisting primarily of outstanding standby letters of credit, bank guarantees and performance and bid bonds. These guarantees have been provided in connection with certain arrangements with vendors, customers, insurance providers, financing counterparties and governmental entities to secure the Company’s obligations and/or performance requirements related to specific transactions. The Company believes that if the obligations under these instruments were triggered, it would not have a material effect on its Consolidated Financial Statements.

Stock Transactions And Stock-Based Compensation

12 Months Ended

Dec. 31, 2019

Share-based Payment Arrangement, Noncash Expense [Abstract]

Stock Transactions and Stock-Based Compensation

STOCK TRANSACTIONS AND STOCK-BASED COMPENSATION

On July 16, 2013, the Company’s Board of Directors approved a repurchase program (the “Repurchase Program”) authorizing the repurchase of up to 20 million shares of the Company’s common stock from time to time on the open market or in privately negotiated transactions. There is no expiration date for the Repurchase Program, and the timing and amount of any shares repurchased under the program will be determined by the Company’s management based on its evaluation of market conditions and other factors. The Repurchase Program may be suspended or discontinued at any time. Any repurchased shares will be available for use in connection with the Company’s equity compensation plans (or any successor plan) and for other corporate purposes. As of December 31, 2019, 20 million shares remained available for repurchase pursuant to the Repurchase Program. The Company expects to fund any future stock repurchases using the Company’s available cash balances or proceeds from the issuance of debt.

Except in connection with the Envista Split-Off in 2019, neither the Company nor any “affiliated purchaser” repurchased any shares of Company common stock during 2019, 2018 or 2017. Refer to Note 4 for discussion of the 22.9 million shares of Danaher common stock tendered to and repurchased by the Company in connection with the Envista Split-Off.

The following table summarizes the Company’s share activity for the years ended December 31 (shares in millions):



	2019	2018	2017
Preferred stock - shares issued:
Balance, beginning of period	—	—	—
Issuance of MCPS	1.7	—	—
Balance, end of period	1.7	—	—

Common stock - shares issued:
Balance, beginning of period	817.9	812.5	807.7
Common stock-based award activity	4.6	4.6	4.8
Common stock issued in connection with acquisitions	—	0.2	—
Common stock issued in connection with LYONs’ conversions	0.9	0.6	—
Issuance of common stock	12.1	—	—
Balance, end of period	835.5	817.9	812.5

On March 1, 2019, the Company completed the underwritten public offering of 12.1 million shares of Danaher common stock at a price to the public of $123.00 per share (the “Common Stock Offering”), resulting in net proceeds of approximately $1.4 billion, after deducting expenses and the underwriters’ discount of $45 million. Simultaneously, the Company completed the underwritten public offering of 1.65 million shares of its 4.75% MCPS, Series A, without par value and with a liquidation preference of $1,000 per share (the “MCPS Offering”), resulting in net proceeds of approximately $1.6 billion, after deducting expenses and the underwriters’ discount of $50 million. The Company intends to use the net proceeds from the Common Stock Offering and the MCPS Offering to fund a portion of the cash consideration payable for, and certain costs associated with, the GE Biopharma Acquisition. Prior to the completion of the GE Biopharma Acquisition, the Company has invested the net proceeds in short-term bank deposits and/or interest-bearing, investment-grade securities.

As a result of the dividends paid to shareholders of the Company’s common stock subsequent to the issuance of the MCPS and through the date of this Annual Report, the Company triggered an anti-dilution adjustment pursuant to the terms of the MCPS. After giving affect to these adjustments, each share of MCPS will mandatorily convert on the mandatory conversion date, which is expected to be April 15, 2022, into between 6.6531 and 8.1500 shares of the Company’s common stock, subject to further anti-dilution adjustments. The number of shares of the Company’s common stock issuable upon conversion will be

determined based on the average volume-weighted average price per share of the Company’s common stock over the 20 consecutive trading day period beginning on, and including, the 21st scheduled trading day immediately before April 15, 2022. Subject to certain exceptions, at any time prior to April 15, 2022, holders may elect to convert each share of the MCPS into 6.6531 shares of common stock, subject to further anti-dilution adjustments. In the event of a fundamental change, the MCPS will convert at the fundamental change rates specified in the certificate of designations, and the holders of MCPS would be entitled to a fundamental change make-whole dividend.

Holders of MCPS will be entitled to receive, when and if declared by the Company’s Board of Directors, cumulative dividends at the annual rate of 4.75% of the liquidation preference of $1,000 per share (equivalent to $47.50 annually per share), payable in cash or, subject to certain limitations, by delivery of shares of the Company’s common stock or any combination of cash and shares of the Company’s common stock, at the Company’s election. If declared, dividends on the MCPS will be payable quarterly on January 15, April 15, July 15 and October 15 of each year (to, and including, April 15, 2022), to the holders of record of the MCPS as they appear on the Company’s stock register at the close of business on the immediately preceding December 31, March 31, June 30 and September 30, respectively.

If the GE Biopharma Acquisition has not closed on or before 5:00 p.m. (New York City time) on August 25, 2020, the GE Biopharma Purchase Agreement is terminated or the Company’s Board of Directors, in its good faith judgment, determines that the GE Biopharma Acquisition will not occur, the Company has the option to redeem the shares of MCPS, in whole but not in part, subject to certain terms and conditions.

Stock options, RSUs and PSUs have been issued to directors, officers and other employees under the Company’s 2007 Omnibus Incentive Plan. In addition, in connection with the 2016 acquisition of Cepheid, the Company assumed certain outstanding stock options and RSUs, as applicable, that had been awarded under the stock compensation plan of the acquired business. This plan (the “Assumed Plan”) operates in a similar manner to the Company’s 2007 Omnibus Incentive Plan, and no further equity awards will be issued under the Assumed Plan. The 2007 Omnibus Incentive Plan provides for the grant of stock options, stock appreciation rights, RSUs, restricted stock, PSUs or any other stock-based award and cash based awards. A total of approximately 127 million shares of Danaher common stock have been authorized for issuance under the 2007 Omnibus Incentive Plan. As of December 31, 2019, approximately 60 million shares of the Company’s common stock remain available for issuance under the 2007 Omnibus Incentive Plan.

Stock options granted under the 2007 Omnibus Incentive Plan generally vest pro rata over a five-year period and terminate ten years from the grant date, though the specific terms of each grant are determined by the Compensation Committee of the Company’s Board (the “Compensation Committee”). The Company’s executive officers and certain other employees have been awarded options with different vesting criteria, and options granted to outside directors are fully vested as of the grant date. Option exercise prices for options granted by the Company equal the closing price of the Company’s common stock on the NYSE on the date of grant. In connection with the Company’s assumption of options issued pursuant to the Assumed Plan, the number of shares underlying each option and exercise price of each option were adjusted to reflect the substitution of the Company’s stock for the stock of the applicable acquired company.

RSUs issued under the 2007 Omnibus Incentive Plan provide for the issuance of a share of the Company’s common stock at no cost to the holder. The RSUs that have been granted to employees under the 2007 Omnibus Incentive Plan generally provide for time-based vesting over a five-year period, although executive officers and certain other employees have been awarded RSUs with different time-based vesting criteria, and RSUs granted to members of the Company’s senior management have also been subject to performance-based vesting criteria. The RSUs that have been granted to directors under the 2007 Omnibus Incentive Plan vest on the earlier of the first anniversary of the grant date or the date of, and immediately prior to, the next annual meeting of the Company’s shareholders following the grant date, but the underlying shares are not issued until the earlier of the director’s death or the first day of the seventh month following the director’s retirement from the Board. Prior to vesting, RSUs granted under the 2007 Omnibus Incentive Plan do not have dividend equivalent rights, do not have voting rights and the shares underlying the RSUs are not considered issued and outstanding. With respect to RSUs granted under the Assumed Plan, in connection with the Company’s assumption of these RSUs the number of shares underlying each RSU were adjusted to reflect the substitution of the Company’s stock for the stock of the applicable acquired company, and certain of these RSUs have dividend equivalent rights.

PSUs issued under the 2007 Omnibus Incentive Plan provide for the issuance of a share of the Company’s common stock at no cost to the holder, vest based on the Company’s total shareholder return ranking relative to the S&P 500 Index over an approximately three-year performance period, are subject to an additional two-year holding period and are entitled to dividend equivalent rights. The PSU dividend equivalent rights are subject to the same vesting and payment restrictions as the related shares, but do not have voting rights and the shares underlying the PSU’s are not considered issued and outstanding.

In connection with the Envista Disposition, Envista adopted a stock-based compensation plan, which provides for stock-based awards denominated in shares of Envista common stock. Envista employees who participated in the Danaher stock compensation program prior to the Separation continued to participate in such program solely with respect to outstanding compensation awards received prior to the Separation, until the Split-Off (at which time such awards were terminated and replaced with awards denominated in Envista common stock under the Envista stock compensation plan). From and after the Envista Separation, all equity compensation awarded to Envista employees has been awarded under the Envista stock compensation plan. Stock-based compensation expense for Envista is included in results from discontinued operations.

The equity compensation awards granted by the Company generally vest only if the employee is employed by the Company (or in the case of directors, the director continues to serve on the Company Board) on the vesting date or in other limited circumstances. To cover the exercise of options and vesting of RSUs and PSUs, the Company generally issues new shares from its authorized but unissued share pool, although it may instead issue treasury shares in certain circumstances.

The Company accounts for stock-based compensation by measuring the cost of employee services received in exchange for all equity awards granted based on the fair value of the award as of the grant date. The Company recognizes the compensation expense over the requisite service period (which is generally the vesting period but may be shorter than the vesting period if the employee becomes retirement eligible before the end of the vesting period). The fair value for RSU awards was calculated using the closing price of the Company’s common stock on the date of grant, adjusted for the fact that RSUs (other than certain RSUs granted under the Assumed Plans) do not accrue dividends. The fair value of the PSU awards was calculated using a Monte Carlo pricing model. The fair value of the options granted was calculated using a Black-Scholes Merton option pricing model (“Black-Scholes”).

The following summarizes the assumptions used in the Black-Scholes model to value options granted during the years ended December 31:



	2019		2018		2017
Risk-free interest rate	1.7 – 2.6%		2.6 – 3.1%		1.8 – 2.2%
Weighted average volatility	20.4	%	21.4	%	17.9	%
Dividend yield	0.5	%	0.6	%	0.7	%
Expected years until exercise	5.0 – 8.0		5.0 – 8.0		5.0 – 8.0

The Black-Scholes model incorporates assumptions to value stock-based awards. The risk-free rate of interest for periods within the contractual life of the option is based on a zero-coupon U.S. government instrument whose maturity period equals or approximates the option’s expected term. Expected volatility is based on implied volatility from traded options on the Company’s stock and historical volatility of the Company’s stock. The dividend yield is calculated by dividing the Company’s annual common stock dividend, based on the most recent quarterly dividend rate, by the closing stock price on the grant date. To estimate the option exercise timing used in the valuation model (which impacts the risk-free interest rate and the expected years until exercise), in addition to considering the vesting period and contractual term of the option, the Company analyzes and considers actual historical exercise experience for previously granted options. The Company stratifies its employee population into multiple groups for option valuation and attribution purposes based upon distinctive patterns of forfeiture rates and option holding periods, as indicated by the ranges set forth in the table above for the risk-free interest rate and the expected years until exercise.

The amount of stock-based compensation expense recognized during a period is also based on the portion of the awards that are ultimately expected to vest. The Company estimates pre-vesting forfeitures at the time of grant by analyzing historical data and revises those estimates in subsequent periods if actual forfeitures differ from those estimates. Ultimately, the total expense recognized over the vesting period will equal the fair value of awards that actually vest.

The following summarizes the components of the Company’s continuing operations stock-based compensation expense for the years ended December 31 ($ in millions):



	2019			2018			2017
RSUs/PSUs:
Pretax compensation expense	$	97.3		$	86.5		$	82.6
Income tax benefit	(20.1		)	(17.7		)	(25.2		)
RSU/PSU expense, net of income taxes	77.2			68.8			57.4
Stock options:
Pretax compensation expense	61.5			51.6			44.5
Income tax benefit	(12.8		)	(10.7		)	(14.0		)
Stock option expense, net of income taxes	48.7			40.9			30.5
Total stock-based compensation:
Pretax compensation expense	158.8			138.1			127.1
Income tax benefit	(32.9		)	(28.4		)	(39.2		)
Total stock-based compensation expense, net of income taxes	$	125.9		$	109.7		$	87.9

Stock-based compensation has been recognized as a component of selling, general and administrative expenses in the accompanying Consolidated Statements of Earnings. As of December 31, 2019, $149 million of total unrecognized compensation cost related to RSUs/PSUs is expected to be recognized over a weighted average period of approximately two years. As of December 31, 2019, $147 million of total unrecognized compensation cost related to stock options is expected to be recognized over a weighted average period of approximately three years. Future compensation amounts will be adjusted for any changes in estimated forfeitures.

The following summarizes option activity under the Company’s stock plans (in millions, except weighted exercise price and number of years):



	Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value
Outstanding as of January 1, 2017	18.9		$	50.07
Granted	4.4		86.14
Exercised	(3.3	)	35.26
Cancelled/forfeited	(1.2	)	70.40
Outstanding as of December 31, 2017	18.8		59.84
Granted	4.1		99.51
Exercised	(3.4	)	41.88
Cancelled/forfeited	(0.9	)	80.14
Outstanding as of December 31, 2018	18.6		70.86
Granted	4.3		117.32
Exercised	(3.5	)	53.02
Cancelled/forfeited	(0.9	)	98.98
Adjustment due to Envista Split-Off ^(a)	(1.5	)	91.65
Outstanding as of December 31, 2019	17.0		82.95		7	$	1,202.3
Vested and expected to vest as of December 31, 2019 ^(b)	16.5		$	82.18	7	$	1,176.3
Vested as of December 31, 2019	7.0		$	62.53	5	$	632.3


^(a)	The “Adjustment due to Envista Split-Off” reflects the cancellation of options which were outstanding as of December 18, 2019 and held by Envista employees, which have been terminated and replaced by Envista equity awards as part of the Envista Split-Off.


^(b)	The “expected to vest” options are the net unvested options that remain after applying the forfeiture rate assumption to total unvested options.

The aggregate intrinsic value in the table above represents the total pretax intrinsic value (the difference between the Company’s closing stock price on the last trading day of 2019 and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holders had all option holders exercised their options on December 31, 2019. The amount of aggregate intrinsic value will change based on the price of the Company’s common stock.

Options outstanding as of December 31, 2019 are summarized below (in millions, except price per share and number of years):



	Outstanding				Exercisable
Exercise Price	Shares	Average Exercise Price		Average Remaining Life (in years)	Shares	Average Exercise Price
$19.89 to $41.64	1.2	$	36.79	2	1.2	$	36.79
$41.65 to $62.18	2.2	54.47		4	2.2	54.51
$62.19 to $83.27	4.0	67.03		6	2.2	67.12
$83.28 to $101.64	5.8	92.70		8	1.3	90.74
$101.65 to $142.99	3.8	116.76		9	0.1	113.57

The aggregate intrinsic value of options exercised during the years ended December 31, 2019, 2018 and 2017 was $266 million, $202 million and $162 million, respectively. Exercise of options during the years ended December 31, 2019, 2018 and 2017 resulted in cash receipts of $179 million, $133 million and $117 million, respectively. Upon exercise of the award by the employee, the Company derives a tax deduction measured by the excess of the market value over the grant price at the date of exercise. The Company realized a tax benefit of $51 million, $40 million and $50 million in 2019, 2018 and 2017, respectively, related to the exercise of employee stock options.

The following summarizes information on unvested RSU and PSU activity (in millions, except weighted average grant-date fair value):



	Number of RSUs/PSUs		Weighted Average Grant-Date Fair Value
Unvested as of January 1, 2017	4.5		$	62.16
Granted	1.4		86.04
Vested	(1.5	)	58.48
Forfeited	(0.5	)	68.83
Unvested as of December 31, 2017	3.9		71.27
Granted	1.5		99.15
Vested	(1.2	)	68.37
Forfeited	(0.3	)	78.41
Unvested as of December 31, 2018	3.9		82.21
Granted	1.4		115.38
Vested	(1.1	)	75.51
Forfeited	(0.3	)	92.82
Adjustment due to Envista Split-Off ^(a)	(0.4	)	98.18
Unvested as of December 31, 2019	3.5		94.85


^(a)	The “Adjustment due to Envista Split-Off” reflects the cancellation of RSUs and PSUs which were outstanding as of December 18, 2019 and held by Envista employees which have been terminated and replaced by Envista equity awards as part of the Envista Split-Off.

The Company realized a tax benefit of $25 million, $17 million and $35 million in the years ended December 31, 2019, 2018 and 2017, respectively, related to the vesting of RSUs.

The excess tax benefit of $55 million, $38 million and $55 million related to the exercise of employee stock options and vesting of RSUs for the years ended December 31, 2019, 2018 and 2017, respectively, has been recorded as a reduction to the current income tax provision and is reflected as an operating cash inflow in the accompanying Consolidated Statements of Cash Flows.

In connection with the exercise of certain stock options and the vesting of RSUs previously issued by the Company, a number of shares sufficient to fund statutory minimum tax withholding requirements has been withheld from the total shares issued or released to the award holder (though under the terms of the applicable plan, the shares are considered to have been issued and are not added back to the pool of shares available for grant). During the year ended December 31, 2019, 402 thousand shares with an aggregate value of $49 million were withheld to satisfy the requirement. During the year ended December 31, 2018, 400 thousand shares with an aggregate value of $41 million were withheld to satisfy the requirement. The withholding is treated as a reduction in additional paid-in capital in the accompanying Consolidated Statements of Stockholders’ Equity.

Net Earnings Per Share From Continuing Operations

12 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

Net Earnings Per Share From Continuing Operations

NET EARNINGS PER SHARE FROM CONTINUING OPERATIONS

Basic net earnings per share (“EPS”) from continuing operations is calculated by taking net earnings from continuing operations less the MCPS dividends divided by the weighted average number of common shares outstanding for the applicable period. Diluted net EPS from continuing operations is computed based on the weighted average number of common shares outstanding increased by the number of additional shares that would have been outstanding had the potentially dilutive common shares been issued and reduced by the number of shares the Company could have repurchased with the proceeds from the issuance of the potentially dilutive shares. For the year ended December 31, 2019, no options to purchase shares were excluded from the diluted earnings per share calculation. For the years ended December 31, 2018 and 2017, 1 million and 4 million options to purchase shares, respectively, were not included in the diluted earnings per share calculation as the impact of their inclusion would have been anti-dilutive.

The impact of the MCPS calculated under the if-converted method was anti-dilutive, and as such 10 million shares underlying the MCPS (assuming a conversion ratio based on the December 31, 2019 share price) were excluded from the diluted EPS calculation for the year ended December 31, 2019.

Information related to the calculation of net earnings from continuing operations per share of common stock for the years ended December 31 is summarized as follows ($ and shares in millions, except per share amounts):



	2019			2018		2017
Numerator:
Net earnings from continuing operations	$	2,432.3		$	2,406.3	$	2,172.2
MCPS dividends	(68.4		)	—		—
Net earnings from continuing operations attributable to common stockholders for Basic EPS	2,363.9			2,406.3		2,172.2
Adjustment for interest on convertible debentures	1.6			2.2		2.1
Net earnings from continuing operations attributable to common stockholders after assumed conversions for Diluted EPS	$	2,365.5		$	2,408.5	$	2,174.3

Denominator:
Weighted average common shares outstanding used in Basic EPS	715.0			700.6		695.8
Incremental common shares from:
Assumed exercise of dilutive options and vesting of dilutive RSUs and PSUs	8.9			7.2		7.5
Assumed conversion of the convertible debentures	1.6			2.4		2.8
Weighted average common shares outstanding used in Diluted EPS	725.5			710.2		706.1

Basic EPS from continuing operations	$	3.31		$	3.43	$	3.12
Diluted EPS from continuing operations	$	3.26		$	3.39	$	3.08

Segment Information

12 Months Ended

Dec. 31, 2019

Segment Reporting, Measurement Disclosures [Abstract]

Segment Information

SEGMENT INFORMATION

The Company operates and reports its results in three separate business segments consisting of the Life Sciences, Diagnostics and Environmental & Applied Solutions segments. When determining the reportable segments, the Company aggregated operating segments based on their similar economic and operating characteristics. Operating profit represents total revenues less operating expenses, excluding nonoperating income and expense, interest and income taxes. Operating profit amounts in the Other segment consist of unallocated corporate costs and other costs not considered part of management’s evaluation of reportable segment operating performance. The identifiable assets by segment are those used in each segment’s operations. Intersegment amounts are not significant and are eliminated to arrive at consolidated totals.

Detailed segment data for the years ended December 31 is as follows ($ in millions):



	2019			2018			2017
Sales:
Life Sciences	$	6,951.1		$	6,471.4		$	5,710.1
Diagnostics	6,561.5			6,257.6			5,839.9
Environmental & Applied Solutions	4,398.5			4,319.5			3,968.8
Total	$	17,911.1		$	17,048.5		$	15,518.8

Operating profit:
Life Sciences	$	1,401.4		$	1,229.3		$	1,004.3
Diagnostics	1,134.1			1,073.8			871.6
Environmental & Applied Solutions	1,051.6			988.0			914.6
Other	(317.7		)	(236.0		)	(218.2		)
Total	$	3,269.4		$	3,055.1		$	2,572.3

Identifiable assets:
Life Sciences	$	22,381.3		$	22,122.4		$	20,576.8
Diagnostics	14,442.2			14,031.1			14,359.2
Environmental & Applied Solutions	4,881.8			4,637.3			4,649.2
Other	20,376.3			1,200.1			1,069.6
Discontinued operations	—			5,841.6			5,993.8
Total	$	62,081.6		$	47,832.5		$	46,648.6

Depreciation and amortization:
Life Sciences	$	487.1		$	471.2		$	427.9
Diagnostics	582.5			589.0			581.5
Environmental & Applied Solutions	110.6			109.0			99.9
Other	9.3			8.5			7.6
Total	$	1,189.5		$	1,177.7		$	1,116.9

Capital expenditures, gross:
Life Sciences	$	142.4		$	140.1		$	130.6
Diagnostics	434.4			380.0			372.6
Environmental & Applied Solutions	54.4			57.1			60.9
Other	4.3			6.3			6.6
Total	$	635.5		$	583.5		$	570.7

Operations in Geographical Areas:



	Year Ended December 31
($ in millions)	2019		2018		2017
Sales:
United States	$	6,659.7	$	6,133.9	$	5,584.9
China	2,307.9		2,169.4		1,856.4
Germany	1,013.0		1,082.3		995.5
All other (each country individually less than 5% of total sales)	7,930.5		7,662.9		7,082.0
Total	$	17,911.1	$	17,048.5	$	15,518.8

Property, plant and equipment, net:
United States	$	1,076.8	$	1,080.3	$	1,008.2
Germany	162.7		169.2		180.9
United Kingdom	163.1		156.9		151.8
All other (each country individually less than 5% of total property, plant and equipment, net)	899.4		843.2		882.5
Total	$	2,302.0	$	2,249.6	$	2,223.4

Sales by Major Product Group:



	Year Ended December 31
($ in millions)	2019		2018		2017
Analytical and physical instrumentation	$	2,463.8	$	2,437.0	$	2,232.9
Research and medical products	13,512.6		12,686.0		11,512.4
Product identification	1,934.7		1,925.5		1,773.5
Total	$	17,911.1	$	17,048.5	$	15,518.8

Quarterly Data-Unaudited

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Quarterly Data-Unaudited

QUARTERLY DATA-UNAUDITED



($ in millions, except per share data)	1st Quarter			2nd Quarter			3rd Quarter			4th Quarter
2019:
Sales	$	4,220.2		$	4,444.5		$	4,378.0		$	4,868.4
Gross profit	2,354.9			2,483.8			2,441.4			2,703.6
Operating profit	719.7			811.7			776.3			961.7
Net earnings from continuing operations	332.3			676.4			630.7			792.9
Net earnings from discontinued operations, net of income taxes	1.5			54.9			37.3			482.2
Net earnings attributable to common stockholders	327.3			708.6			648.4			1,255.5
Net earnings per common share from continuing operations:¹
Basic	$	0.46		$	0.91		$	0.85		$	1.08	^A
Diluted	$	0.45		$	0.90		$	0.84		$	1.07
Net earnings per common share from discontinued operations:
Basic	$	—		$	0.08		$	0.05		$	0.67	^A
Diluted	$	—		$	0.08		$	0.05		$	0.66
Net earnings per common share:
Basic	$	0.46		$	0.99		$	0.90		$	1.75	^A
Diluted	$	0.46	^B	$	0.97	^B	$	0.89		$	1.73

2018:
Sales	$	4,022.8		$	4,247.6		$	4,173.6		$	4,604.5
Gross profit	2,268.1			2,393.9			2,309.6			2,533.7
Operating profit	687.5			758.9			745.3			863.4
Net earnings from continuing operations	529.4			592.8			600.3			683.8
Net earnings from discontinued operations, net of income taxes	37.2			81.0			63.4			63.0
Net earnings attributable to common stockholders	566.6			673.8			663.7			746.8
Net earnings per common share from continuing operations:
Basic	$	0.76		$	0.85		$	0.86		$	0.97	^A
Diluted	$	0.75		$	0.84		$	0.85		$	0.96	^A
Net earnings per common share from discontinued operations:
Basic	$	0.05		$	0.12		$	0.09		$	0.09
Diluted	$	0.05		$	0.11		$	0.09		$	0.09
Net earnings per common share:
Basic	$	0.81		$	0.96	^B	$	0.95		$	1.06
Diluted	$	0.80		$	0.95		$	0.93	^B	$	1.05	^A

¹ Refer to Note 20 for additional information on the calculation of net earnings per share from continuing operations.

^A Net earnings per common share amounts do not add across to full year amounts due to rounding.

^B Net earnings per common share amount does not add due to rounding.

Schedule II - Valuation And Qualifying Accounts

12 Months Ended

Dec. 31, 2019

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

Schedule II - Valuation And Qualifying Accounts

DANAHER CORPORATION AND SUBSIDIARIES

SCHEDULE II—VALUATION AND QUALIFYING ACCOUNTS

($ in millions)



Classification	Balance at Beginning of Period ^(a)		Charged to Costs & Expenses		Impact of Currency			Charged to Other Accounts^(b)		Write-Offs, Write-Downs & Deductions			Balance at End of Period ^(a)
Year ended December 31, 2019:
Allowances deducted from asset account
Allowance for doubtful accounts	$	103.7	$	30.0	$	(0.7	)	$	—	$	(27.6	)	$	105.4
Year ended December 31, 2018:
Allowances deducted from asset account
Allowance for doubtful accounts	$	100.3	$	31.2	$	(3.8	)	$	1.3	$	(25.3	)	$	103.7
Year ended December 31, 2017:
Allowances deducted from asset account
Allowance for doubtful accounts	$	85.6	$	27.1	$	3.8		$	3.5	$	(19.7	)	$	100.3


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

^(b)

Amounts related to businesses acquired, net of amounts related to businesses disposed not included in discontinued operations.

Business And Summary Of Significant Accounting Policies (Policy)

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

Business Description and Basis of Presentation

Accounting Principles

Use of Estimates

Cash and Equivalents

Cash and Equivalents—The Company considers all highly liquid investments with a maturity of three months or less at the date of purchase to be cash equivalents.

Accounts Receivable and Allowances for Doubtful Accounts

Inventory Valuation

Property, Plant and Equipment



Category		Useful Life
Buildings		30 years
Leased assets and leasehold improvements		Amortized over the lesser of the economic life of the asset or the term of the lease
Machinery and equipment		3 – 10 years
Customer-leased instruments		5 – 7 years

Estimated useful lives are periodically reviewed and, when appropriate, changes to estimates are made prospectively.

Investments

Other Assets

Other Assets—Other assets principally include noncurrent financing receivables, noncurrent deferred tax assets and other investments.

Fair Value of Financial Instruments

Goodwill and Other Intangible Assets

Revenue Recognition

Shipping and Handling

Shipping and Handling—Shipping and handling costs are included as a component of cost of sales. Revenue derived from shipping and handling costs billed to customers is included in sales.

Advertising

Advertising—Advertising costs are expensed as incurred.

Research and Development

Income Taxes

Productivity Improvement and Restructuring

Foreign Currency Translation

Derivative Financial Instruments

Accounting for Stock-Based Compensation

Pension and Postretirement Benefit Plans

Accounting Standards Recently Adopted

Business And Summary Of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Useful Lives Of Depreciable Assets

The provision for depreciation has been computed principally by the straight-line method based on the estimated useful lives of the depreciable assets as follows:



Category		Useful Life
Buildings		30 years
Leased assets and leasehold improvements		Amortized over the lesser of the economic life of the asset or the term of the lease
Machinery and equipment		3 – 10 years
Customer-leased instruments		5 – 7 years

The classes of property, plant and equipment as of December 31 are summarized as follows ($ in millions):



	2019			2018
Land and improvements	$	149.6		$	151.8
Buildings	953.8			895.4
Machinery and equipment	2,193.9			2,022.6
Customer-leased equipment	1,766.1			1,632.9
Gross property, plant and equipment	5,063.4			4,702.7
Less: accumulated depreciation	(2,761.4		)	(2,453.1		)
Property, plant and equipment, net	$	2,302.0		$	2,249.6

Schedule of Accumulated Other Comprehensive Income (Loss)



	Foreign Currency Translation Adjustments				Pension & Postretirement Plan Benefit Adjustments				Unrealized Gain (Loss) on Available-For-Sale Securities				Cash Flow Hedge Adjustments				Total
Balance, January 1, 2017	$	(2,398.2	)		$	(642.2	)		$	18.7			$	—			$	(3,021.7	)
Other comprehensive income (loss) before reclassifications:
Increase	976.1				62.4				41.7				—				1,080.2
Income tax impact	—				(13.4		)		(15.7		)		—				(29.1		)
Other comprehensive income (loss) before reclassifications, net of income taxes	976.1				49.0				26.0				—				1,051.1
Amounts reclassified from accumulated other comprehensive income (loss):
Increase (decrease)	—				28.7			^(a)	(72.8		)	^(b)	—				(44.1		)
Income tax impact	—				(6.7		)		27.2				—				20.5
Amounts reclassified from accumulated other comprehensive income (loss), net of income taxes	—				22.0				(45.6		)		—				(23.6		)
Net current period other comprehensive income (loss), net of income taxes	976.1				71.0				(19.6		)		—				1,027.5
Balance, December 31, 2017	(1,422.1		)		(571.2		)		(0.9		)		—				(1,994.2		)
Adoption of accounting standards	(43.8		)		(107.2		)		(0.2		)		—				(151.2		)
Balance, January 1, 2018	(1,465.9		)		(678.4		)		(1.1		)		—				(2,145.4		)
Other comprehensive income (loss) before reclassifications:
Decrease	(632.2		)		(44.9		)		(1.1		)		—				(678.2		)
Income tax impact	—				9.2				0.3				—				9.5
Other comprehensive income (loss) before reclassifications, net of income taxes	(632.2		)		(35.7		)		(0.8		)		—				(668.7		)
Amounts reclassified from accumulated other comprehensive income (loss):
Increase	—				30.3			^(a)	—				—				30.3
Income tax impact	—				(7.3		)		—				—				(7.3		)
Amounts reclassified from accumulated other comprehensive income (loss), net of income taxes	—				23.0				—				—				23.0
Net current period other comprehensive income (loss), net of income taxes	(632.2		)		(12.7		)		(0.8		)		—				(645.7		)
Balance, December 31, 2018	(2,098.1		)		(691.1		)		(1.9		)		—				(2,791.1		)
Other comprehensive income (loss) before reclassifications:
(Decrease) increase	(178.4		)		(149.6		)		1.6				(149.2		)		(475.6		)
Income tax impact	(5.8		)		32.0				(0.4		)		9.0				34.8
Other comprehensive income (loss) before reclassifications, net of income taxes	(184.2		)		(117.6		)		1.2				(140.2		)		(440.8		)
Amounts reclassified from accumulated other comprehensive income (loss):
Increase	109.0			^(d)	35.7			^(a)	—				27.5			^(c)	172.2
Income tax impact	—				(8.5		)		—				(0.1		)		(8.6		)
Amounts reclassified from accumulated other comprehensive income (loss), net of income taxes	109.0				27.2				—				27.4				163.6
Net current period other comprehensive income (loss), net of income taxes	(75.2		)		(90.4		)		1.2				(112.8		)		(277.2		)
Balance, December 31, 2019	$	(2,173.3	)		$	(781.5	)		$	(0.7	)		$	(112.8	)		$	(3,068.3	)


^(a)	This accumulated other comprehensive income (loss) component is included in the computation of net periodic pension and postretirement cost (refer to Notes 13 and 14 for additional details).


^(b)	Included in other income, net in the accompanying Consolidated Statement of Earnings (refer to Note 16 for additional details).

^(c) Reflects reclassification to earnings related to remeasurement of certain long-term debt (refer to Note 12 for additional details).

^(d) Reflects reclassification to earnings related to the Envista Disposition (refer to Note 4 for additional details).

Revenue (Tables)

12 Months Ended

Dec. 31, 2019

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue



	Life Sciences		Diagnostics		Environmental & Applied Solutions		Total
Year ended December 31, 2019
Geographical region:
North America	$	2,595.5	$	2,531.6	$	1,885.3	$	7,012.4
Western Europe	1,875.5		1,132.5		1,048.5		4,056.5
Other developed markets	585.7		401.7		124.9		1,112.3
High-growth markets	1,894.4		2,495.7		1,339.8		5,729.9
Total	$	6,951.1	$	6,561.5	$	4,398.5	$	17,911.1

Revenue type:
Recurring	$	4,411.2	$	5,524.5	$	2,371.8	$	12,307.5
Nonrecurring	2,539.9		1,037.0		2,026.7		5,603.6
Total	$	6,951.1	$	6,561.5	$	4,398.5	$	17,911.1

Year ended December 31, 2018
Geographical region:
North America	$	2,295.6	$	2,403.4	$	1,770.7	$	6,469.7
Western Europe	1,846.7		1,155.4		1,059.1		4,061.2
Other developed markets	570.0		379.1		125.7		1,074.8
High-growth markets	1,759.1		2,319.7		1,364.0		5,442.8
Total	$	6,471.4	$	6,257.6	$	4,319.5	$	17,048.5

Revenue type:
Recurring	$	4,131.8	$	5,272.0	$	2,280.0	$	11,683.8
Nonrecurring	2,339.6		985.6		2,039.5		5,364.7
Total	$	6,471.4	$	6,257.6	$	4,319.5	$	17,048.5

Acquisitions (Tables)

12 Months Ended

Dec. 31, 2019

Business Combinations [Abstract]

Fair Values Of The Assets Acquired And Liabilities Assumed

The following summarizes the estimated fair values of the assets acquired and liabilities assumed at the date of acquisition ($ in millions):



	2019			2018			2017
Trade accounts receivable	$	9.0		$	41.1		$	21.6
Inventories	9.3			14.8			20.9
Property, plant and equipment	3.9			88.4			9.0
Goodwill	217.1			1,275.4			264.8
Other intangible assets, primarily customer relationships, trade names and technology	113.6			850.7			154.5
Trade accounts payable	(3.2		)	(6.7		)	(9.9		)
Other assets and liabilities, net	(18.4		)	(66.5		)	(75.1		)
Net assets acquired	331.3			2,197.2			385.8
Less: noncash consideration	—			(23.9		)	—
Net cash consideration	$	331.3		$	2,173.3		$	385.8



	IDT			Others			Total
Trade accounts receivable	$	36.0		$	5.1		$	41.1
Inventories	14.8			—			14.8
Property, plant and equipment	88.2			0.2			88.4
Goodwill	1,212.6			62.8			1,275.4
Other intangible assets, primarily customer relationships, trade names and technology	811.0			39.7			850.7
Trade accounts payable	(5.5		)	(1.2		)	(6.7		)
Other assets and liabilities, net	(55.0		)	(11.5		)	(66.5		)
Net assets acquired	2,102.1			95.1			2,197.2
Less: noncash consideration	(23.9		)	—			(23.9		)
Net cash consideration	$	2,078.2		$	95.1		$	2,173.3

Results Of Operations If Acquisition Was Consummated



	2019		2018
Sales	$	17,919.9	$	17,222.7
Net earnings from continuing operations	2,429.2		2,385.3
Diluted net earnings per share from continuing operations ^(a)	3.26		3.36

Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2019

Discontinued Operations and Disposal Groups [Abstract]

Schedule Of Discontinued Operations

The key components of income from both the Envista and Fortive businesses from discontinued operations for the years ended December 31 were as follows ($ in millions):



	2019			2018			2017
Sales	$	2,610.1		$	2,844.5		$	2,810.9
Cost of sales	(1,177.2		)	(1,242.7		)	(1,189.7		)
Selling, general and administrative expenses	(1,094.6		)	(1,081.1		)	(1,030.7		)
Research and development expenses	(151.4		)	(172.0		)	(172.4		)
Other income, net	1.7			2.7			0.1
Interest expense	(9.1		)	(20.5		)	(22.6		)
Income from discontinued operations before income taxes	179.5			330.9			395.6
Gain on disposition of Envista before income taxes	451.1			—			—
Earnings from discontinued operations before income taxes	630.6			330.9			395.6
Income taxes	(41.4		)	(86.3		)	(75.7		)
Earnings from discontinued operations, net of income taxes	589.2			244.6			319.9
Net earnings attributable to noncontrolling interest	(13.3		)	—			—
Net earnings from discontinued operations attributable to common stockholders	$	575.9		$	244.6		$	319.9



Assets:
Trade accounts receivable, net	$	459.8
Inventories	278.7
Prepaid expenses and other current assets	48.3
Property, plant and equipment, net	261.6
Goodwill	3,325.5
Other intangible assets, net	1,390.3
Other long-term assets	77.4
Total assets, discontinued operations	$	5,841.6
Liabilities:
Trade accounts payable	$	217.4
Accrued expenses and other liabilities	387.6
Other long-term liabilities	374.2
Total liabilities, discontinued operations	$	979.2

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

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+ Details

Leases (Tables)

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Schedule of future minimum rental payments for operating leases



2019	$	173.6
2020	143.4
2021	111.4
2022	97.3
2023	83.2
Thereafter	226.5

Lease, cost

The components of operating lease expense for the year ended December 31, 2019 were as follows ($ in millions):



Fixed operating lease expense ^(a)	$	195.9
Variable operating lease expense	45.0
Total operating lease expense	$	240.9

^(a)Includes short-term leases and sublease income, both of which were immaterial.

Supplemental cash flow information related to the Company’s operating leases for the year ended December 31, 2019 was as follows ($ in millions):



Cash paid for amounts included in the measurement of operating lease liabilities	$	202.0
ROU assets obtained in exchange for operating lease obligations	144.9

Lessee, assets and liabilities



Lease Assets and Liabilities	Classification
Assets:
Operating lease ROU assets	Other long-term assets	$	763.7

Liabilities:
Current:
Operating lease liabilities	Accrued expenses and other liabilities	$	157.8
Long-term:
Operating lease liabilities	Other long-term liabilities	639.1
Total operating lease liabilities		$	796.9

Weighted average remaining lease term		7 years
Weighted average discount rate		3.1		%

Lessee, operating lease, liability, maturity

The following table presents the maturity of the Company’s operating lease liabilities as of December 31, 2019 ($ in millions):



2020	$	179.5
2021	142.5
2022	124.9
2023	106.3
2024	90.1
Thereafter	244.9
Total operating lease payments	888.2
Less: imputed interest	91.3
Total operating lease liabilities	$	796.9

Inventories (Tables)

12 Months Ended

Dec. 31, 2019

Inventory, Net [Abstract]

Schedule Of Inventory

The classes of inventory as of December 31 are summarized as follows ($ in millions):



	2019		2018
Finished goods	$	833.5	$	864.4
Work in process	284.9		279.6
Raw materials	509.9		487.4
Total	$	1,628.3	$	1,631.4

Property, Plant And Equipment (Tables)

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment [Abstract]

Schedule Of Property, Plant And Equipment

The provision for depreciation has been computed principally by the straight-line method based on the estimated useful lives of the depreciable assets as follows:



Category		Useful Life
Buildings		30 years
Leased assets and leasehold improvements		Amortized over the lesser of the economic life of the asset or the term of the lease
Machinery and equipment		3 – 10 years
Customer-leased instruments		5 – 7 years

The classes of property, plant and equipment as of December 31 are summarized as follows ($ in millions):



	2019			2018
Land and improvements	$	149.6		$	151.8
Buildings	953.8			895.4
Machinery and equipment	2,193.9			2,022.6
Customer-leased equipment	1,766.1			1,632.9
Gross property, plant and equipment	5,063.4			4,702.7
Less: accumulated depreciation	(2,761.4		)	(2,453.1		)
Property, plant and equipment, net	$	2,302.0		$	2,249.6

Goodwill And Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Rollforward Of Goodwill

The following is a rollforward of the Company’s goodwill by segment ($ in millions):



	Life Sciences			Diagnostics			Environmental & Applied Solutions			Total
Balance, January 1, 2018	$	12,335.5		$	7,079.5		$	2,353.6		$	21,768.6
Attributable to 2018 acquisitions	1,212.6			—			62.8			1,275.4
Adjustments due to finalization of purchase price allocations	2.8			—			4.7			7.5
Foreign currency translation and other	(239.9		)	(153.9		)	(77.2		)	(471.0		)
Balance, December 31, 2018	13,311.0			6,925.6			2,343.9			22,580.5
Attributable to 2019 acquisitions	213.4			2.6			1.1			217.1
Adjustments due to finalization of purchase price allocations	(6.9		)	—			—			(6.9		)
Foreign currency translation and other	(45.7		)	(27.0		)	(5.5		)	(78.2		)
Balance, December 31, 2019	$	13,471.8		$	6,901.2		$	2,339.5		$	22,712.5

Schedule of Finite-lived Intangible Assets And Indefinite-lived Intangible Assets By Major Class

The following summarizes the gross carrying value and accumulated amortization for each major category of intangible assets as of December 31 ($ in millions):



	2019					2018
	Gross Carrying Amount		Accumulated Amortization			Gross Carrying Amount		Accumulated Amortization
Finite-lived intangibles:
Patents and technology	$	2,712.7	$	(934.1	)	$	2,679.0	$	(764.5	)
Customer relationships and other intangibles	6,367.4		(2,612.3		)	6,327.1		(2,166.1		)
Total finite-lived intangibles	9,080.1		(3,546.4		)	9,006.1		(2,930.6		)
Indefinite-lived intangibles:
Trademarks and trade names	4,216.0		—			4,207.3		—
Total intangibles	$	13,296.1	$	(3,546.4	)	$	13,213.4	$	(2,930.6	)

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2019

Fair Value Disclosures [Abstract]

Financial Assets And Liabilities Carried At Fair Value

A summary of financial assets and liabilities that are measured at fair value on a recurring basis were as follows ($ in millions):



	Year Ended December 31		Quoted Prices in Active Market (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
2019
Assets:
Available-for-sale debt securities	$	33.7	$	—	$	33.7	$	—
Investment in equity securities	110.8		—		—		—
Cross-currency swap derivative contracts	25.7		—		25.7		—
Liabilities:
Cross-currency swap derivative contracts	111.7		—		111.7		—
Deferred compensation plans	70.4		—		70.4		—
2018
Assets:
Available-for-sale debt securities	$	38.3	$	—	$	38.3	$	—
Investment in equity securities	60.3		—		—		—
Liabilities:
Deferred compensation plans	49.8		—		49.8		—

Carrying Amounts And Fair Values Of Financial Instruments

The carrying amounts and fair values of the Company’s financial instruments as of December 31 were as follows ($ in millions):



	2019				2018
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Assets:
Available-for-sale debt securities	$	33.7	$	33.7	$	38.3	$	38.3
Investment in equity securities	110.8		110.8		60.3		60.3
Cross-currency swap derivative contracts	25.7		25.7		—		—
Liabilities:
Cross-currency swap derivative contracts	111.7		111.7		—		—
Notes payable and current portion of long-term debt	212.4		212.4		51.8		51.8
Long-term debt	21,516.7		21,896.9		9,688.5		9,990.6

Accrued Expenses And Other Liabilities (Tables)

12 Months Ended

Dec. 31, 2019

Payables and Accruals [Abstract]

Accrued Expenses And Other Liabilities

Accrued expenses and other liabilities as of December 31 were as follows ($ in millions):



	2019				2018
	Current		Noncurrent		Current		Noncurrent
Compensation and benefits	$	931.3	$	223.0	$	904.2	$	205.0
Pension and postretirement benefits	150.8		898.4		68.8		917.8
Taxes, income and other	356.5		3,308.8		286.0		3,330.2
Deferred revenue	687.8		118.1		626.8		109.8
Sales and product allowances	115.4		2.0		111.4		2.0
Operating lease liabilities under ASC 842	157.8		639.1		—		—
Other	805.7		161.5		692.1		136.8
Total	$	3,205.3	$	5,350.9	$	2,689.3	$	4,701.6

Financing (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Components Of Debt

The following summarizes the key terms of the offering (€ in millions):



	Aggregate Principal Amount		Stated Annual Interest Rate		Issue Price (as % of Principal Amount)		Maturity Date	Interest Payment Dates (in arrears)
2026 Biopharma Euronotes	€	1,250.0	0.200	%	99.833	%	March 18, 2026	March 18
2028 Biopharma Euronotes	€	1,250.0	0.450	%	99.751	%	March 18, 2028	March 18
2031 Biopharma Euronotes	€	1,750.0	0.750	%	99.920	%	September 18, 2031	September 18
2039 Biopharma Euronotes	€	1,250.0	1.350	%	99.461	%	September 18, 2039	September 18
2049 Biopharma Euronotes	€	750.0	1.800	%	99.564	%	September 18, 2049	September 18

The components of the Company’s debt as of December 31 were as follows ($ in millions):



	2019		2018
U.S. dollar-denominated commercial paper	$	—	$	72.8
Euro-denominated commercial paper (€4.6 billion and €2.1 billion, respectively)	5,146.2		2,377.5
1.0% senior unsecured notes due 2019 (€600.0 million aggregate principal amount) (the “2019 Euronotes”)	—		687.0
2.4% senior unsecured notes due 2020 (the “2020 U.S. Notes”)	—		498.5
5.0% senior unsecured notes due 2020 (the “2020 Assumed Pall Notes”)	—		386.7
Zero-coupon LYONs due 2021	33.6		56.2
0.352% senior unsecured notes due 2021 (¥30.0 billion aggregate principal amount) (the “2021 Yen Notes”)	275.8		273.2
1.7% senior unsecured notes due 2022 (€800.0 million aggregate principal amount) (the “2022 Euronotes”)	894.8		913.2
Floating rate senior unsecured notes due 2022 (€250.0 million aggregate principal amount) (the “Floating Rate 2022 Euronotes”)	279.8		285.7
2.05% senior unsecured notes due 2022 (the “2022 Biopharma Notes”)	696.9		—
0.5% senior unsecured bonds due 2023 (CHF 540.0 million aggregate principal amount) (the “2023 CHF Bonds”)	558.9		550.7
2.2% senior unsecured notes due 2024 (the “2024 Biopharma Notes”)	696.2		—
2.5% senior unsecured notes due 2025 (€800.0 million aggregate principal amount) (the “2025 Euronotes”)	893.7		912.6
3.35% senior unsecured notes due 2025 (the “2025 U.S. Notes”)	497.3		496.8
0.2% senior unsecured notes due 2026 (€1.3 billion aggregate principal amount) (the “2026 Biopharma Euronotes”)	1,392.3		—
0.3% senior unsecured notes due 2027 (¥30.8 billion aggregate principal amount) (the “2027 Yen Notes”)	282.5		279.9
1.2% senior unsecured notes due 2027 (€600.0 million aggregate principal amount) (the “2027 Euronotes”)	668.0		682.0
0.45% senior unsecured notes due 2028 (€1.3 billion aggregate principal amount) (the “2028 Biopharma Euronotes”)	1,390.1		—
1.125% senior unsecured bonds due 2028 (CHF 210.0 million aggregate principal amount) (the “2028 CHF Bonds”)	221.0		218.1
2.6% senior unsecured notes due 2029 (the “2029 Biopharma Notes”)	794.8		—
0.75% senior unsecured notes due 2031 (€1.8 billion aggregate principal amount) (the “2031 Biopharma Euronotes”)	1,948.7		—
0.65% senior unsecured notes due 2032 (¥53.2 billion aggregate principal amount) (the “2032 Yen Notes”)	487.8		483.4
1.35% senior unsecured notes due 2039 (€1.3 billion aggregate principal amount) (the “2039 Biopharma Euronotes”)	1,383.6		—
3.25% senior unsecured notes due 2039 (the “2039 Biopharma Notes”)	890.3		—
4.375% senior unsecured notes due 2045 (the “2045 U.S. Notes”)	499.4		499.3
1.8% senior unsecured notes due 2049 (€750.0 million aggregate principal amount) (the “2049 Biopharma Euronotes”)	830.9		—
3.4% senior unsecured notes due 2049 (the “2049 Biopharma Notes”)	890.2		—
Other	76.3		66.7
Total debt	21,729.1		9,740.3
Less: currently payable	212.4		51.8
Long-term debt	$	21,516.7	$	9,688.5

The following summarizes the key terms of the offering ($ in millions):



	Aggregate Principal Amount		Stated Annual Interest Rate		Issue Price (as % of Principal Amount)		Maturity Date	Interest Payment Dates (in arrears)
2022 Biopharma Notes	$	700.0	2.050	%	99.994	%	November 15, 2022	May 15 and November 15
2024 Biopharma Notes	$	700.0	2.200	%	99.952	%	November 15, 2024	May 15 and November 15
2029 Biopharma Notes	$	800.0	2.600	%	99.903	%	November 15, 2029	May 15 and November 15
2039 Biopharma Notes	$	900.0	3.250	%	99.809	%	November 15, 2039	May 15 and November 15
2049 Biopharma Notes	$	900.0	3.400	%	99.756	%	November 15, 2049	May 15 and November 15

The following summarizes the key terms for the Company’s long-term debt as of December 31, 2019:



	Outstanding Balance as of December 31, 2019		Stated Annual Interest Rate		Issue Price (as % of Principal Amount)		Issue Date	Maturity Date	Interest Payment Dates (in arrears)
2021 LYONs	$	33.6	see below		not applicable		January 22, 2001	January 22, 2021	January 22 and July 22
2021 Yen Notes ⁽⁴⁾	275.8		0.352	%	100	%	February 28, 2016	March 16, 2021	March 16 and September 16
2022 Euronotes ⁽¹⁾	894.8		1.7	%	99.651	%	July 8, 2015	January 4, 2022	January 4
Floating Rate 2022 Euronotes ⁽⁵⁾	279.8		three-month EURIBOR + 0.3%		100.147	%	June 30, 2017	June 30, 2022	March 30, June 30, September 30 and December 31
2022 Biopharma Notes ⁽⁸⁾	696.9		2.05	%	99.994	%	November 7, 2019	November 15, 2022	May 15 and November 15
2023 CHF Bonds⁽²⁾	558.9		0.5	%	100.924	%	December 8, 2015	December 8, 2023	December 8
2024 Biopharma Notes ⁽⁸⁾	696.2		2.2	%	99.952	%	November 7, 2019	November 15, 2024	May 15 and November 15
2025 Euronotes ⁽¹⁾	893.7		2.5	%	99.878	%	July 8, 2015	July 8, 2025	July 8
2025 U.S. Notes ⁽³⁾	497.3		3.35	%	99.857	%	September 15, 2015	September 15, 2025	March 15 and September 15
2026 Biopharma Euronotes ⁽⁷⁾	1,392.3		0.2	%	99.833	%	September 18, 2019	March 18, 2026	March 18
2027 Yen Notes ⁽⁶⁾	282.5		0.3	%	100	%	May 11, 2017	May 11, 2027	May 11 and November 11
2027 Euronotes ⁽⁵⁾	668.0		1.2	%	99.682	%	June 30, 2017	June 30, 2027	June 30
2028 Biopharma Euronotes ⁽⁷⁾	1,390.1		0.45	%	99.751	%	September 18, 2019	March 18, 2028	March 18
2028 CHF Bonds⁽²⁾	221.0		1.125	%	102.870	%	December 8, 2015 and December 8, 2017	December 8, 2028	December 8
2029 Biopharma Notes ⁽⁸⁾	794.8		2.6	%	99.903	%	November 7, 2019	November 15, 2029	May 15 and November 15
2031 Biopharma Euronotes ⁽⁷⁾	1,948.7		0.75	%	99.920	%	September 18, 2019	September 18, 2031	September 18
2032 Yen Notes ⁽⁶⁾	487.8		0.65	%	100	%	May 11, 2017	May 11, 2032	May 11 and November 11
2039 Biopharma Euronotes ⁽⁷⁾	1,383.6		1.35	%	99.461	%	September 18, 2019	September 18, 2031	September 18
2039 Biopharma Notes ⁽⁸⁾	890.3		3.25	%	99.809	%	November 7, 2019	November 15, 2039	May 15 and November 15
2045 U.S. Notes ⁽³⁾	499.4		4.375	%	99.784	%	September 15, 2015	September 15, 2045	March 15 and September 15
2049 Biopharma Euronotes ⁽⁷⁾	830.9		1.8	%	99.564	%	September 18, 2019	September 18, 2031	September 18
2049 Biopharma Notes ⁽⁸⁾	890.2		3.4	%	99.756	%	November 7, 2019	November 15, 2049	May 15 and November 15
U.S. dollar and euro-denominated commercial paper	5,146.2		various		various		various	various	various
Other	76.3		various		various		various	various	various
Total debt	$	21,729.1


⁽¹⁾	The net proceeds, after underwriting discounts and commissions and offering expenses, of approximately €2.2 billion (approximately $2.4 billion based on currency exchange rates as of the date of issuance) from these notes and the 2019 Euronotes were used to pay a portion of the purchase price for the acquisition of Pall Corporation in 2015 (the “Pall Acquisition”).

⁽²⁾


⁽³⁾	The net proceeds, after underwriting discounts and commissions and offering expenses, of approximately $2.0 billion from these notes were used to repay a portion of the commercial paper issued to finance the Pall Acquisition.


⁽⁴⁾	The net proceeds, after offering expenses, of approximately ¥29.9 billion ($262 million based on currency exchange rates as of the date of issuance) from these notes were used to repay a portion of the commercial paper borrowings issued to finance the Pall Acquisition.


⁽⁵⁾	The net proceeds at issuance, after offering expenses, of €843 million ($940 million based on currency exchange rates as of the date of pricing) from these notes were used to partially repay commercial paper borrowings.


⁽⁶⁾	The net proceeds at issuance, after offering expenses, of approximately ¥83.6 billion ($744 million based on currency exchange rates as of the date of pricing) from these notes were used to partially repay commercial paper borrowings.

⁽⁸⁾ The net proceeds at issuance, after offering expenses, of approximately $4.0 billion from these notes are intended to be used to finance the GE Biopharma Acquisition.

Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block]

The Company’s minimum principal payments for the next five years are as follows ($ in millions):



2020	$	212.4
2021	298.2
2022	1,875.3
2023	547.7
2024	5,689.6
Thereafter	13,105.9

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28541-108399

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28551-108399

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

Hedging transactions and derivative financial instruments Hedging transactions and derivative financial instruments (Tables)

12 Months Ended

Dec. 31, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments, Gain (Loss)



	Original Notional Amount		Notional Amount Outstanding		Gain (Loss) Recognized in OCI
Net investment hedges:
Foreign currency contracts	$	1,875.0	$	1,000.0	$	24.1
Foreign currency denominated debt	6,275.9		6,275.9		129.9

Cash flow hedges:
Foreign currency contracts	4,000.0		4,000.0		(111.7		)
Interest rate swaps	850.0		—		(37.5		)
Total	$	13,000.9	$	11,275.9	$	4.8

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value



Derivative assets:
Prepaid expenses and other current assets	$	25.7

Derivative liabilities:
Accrued expenses and other liabilities	111.7

Nonderivative hedging instruments:
Long-term debt	6,275.9

Pension Benefit Plans (Tables) - Pension benefit plans

12 Months Ended

Dec. 31, 2019

Defined Benefit Plans and Other Post-Retirement Benefit Plans [Line Items]

Funded Status Of Pension Plans

The following sets forth the funded status of the U.S. and non-U.S. plans as of the most recent actuarial valuations using measurement dates of December 31 ($ in millions):



	U.S. Pension Benefits						Non-U.S. Pension Benefits
	2019			2018			2019			2018
Change in pension benefit obligation:
Benefit obligation at beginning of year	$	(2,340.5	)	$	(2,608.0	)	$	(1,314.5	)	$	(1,428.5	)
Service cost	(6.4		)	(6.7		)	(25.0		)	(25.6		)
Interest cost	(88.6		)	(80.9		)	(23.9		)	(24.0		)
Employee contributions	—			—			(5.2		)	(5.3		)
Benefits and other expenses paid	164.4			178.6			47.6			44.5
Acquisitions and other	—			—			—			(3.6		)
Actuarial (loss) gain	(236.8		)	145.1			(152.2		)	59.8
Amendments, settlements and curtailments	39.9			31.4			47.4			15.0
Foreign exchange rate impact	—			—			(20.7		)	53.2
Benefit obligation at end of year	(2,468.0		)	(2,340.5		)	(1,446.5		)	(1,314.5		)
Change in plan assets:
Fair value of plan assets at beginning of year	1,778.3			2,004.9			1,031.7			1,103.0
Actual return (loss) on plan assets	282.6			(72.1		)	114.9			(19.9		)
Employer contributions	9.7			54.7			43.5			45.3
Employee contributions	—			—			5.2			5.3
Amendments and settlements	(40.6		)	(30.6		)	(36.5		)	(16.8		)
Benefits and other expenses paid	(164.4		)	(178.6		)	(47.6		)	(44.5		)
Acquisitions and other	—			—			—			1.9
Foreign exchange rate impact	—			—			27.4			(42.6		)
Fair value of plan assets at end of year	1,865.6			1,778.3			1,138.6			1,031.7
Funded status	$	(602.4	)	$	(562.2	)	$	(307.9	)	$	(282.8	)

Weighted Average Assumptions Used To Determine Benefit Obligations And Cost

Weighted average assumptions used to determine net periodic pension (cost) benefit at date of measurement:



	U.S. Plans				Non-U.S. Plans
	2019		2018		2019		2018
Discount rate	4.3	%	3.6	%	2.1	%	1.9	%
Expected long-term return on plan assets	7.0	%	7.0	%	3.9	%	4.0	%
Rate of compensation increase	4.0	%	4.0	%	2.4	%	2.4	%

Weighted average assumptions used to determine benefit obligations at date of measurement:



	U.S. Plans				Non-U.S. Plans
	2019		2018		2019		2018
Discount rate	3.2	%	4.3	%	1.4	%	2.1	%
Rate of compensation increase	4.0	%	4.0	%	2.4	%	2.4	%

Components of Net Periodic Pension Cost

Components of net periodic pension benefit (cost):



	U.S. Pension Benefits						Non-U.S. Pension Benefits
($ in millions)	2019			2018			2019			2018
Service cost	$	(6.4	)	$	(6.7	)	$	(25.0	)	$	(25.6	)
Interest cost	(88.6		)	(80.9		)	(23.9		)	(24.0		)
Expected return on plan assets	125.3			132.1			40.2			43.4
Amortization of prior service (cost) credit	(0.9		)	(0.9		)	0.2			0.5
Amortization of net loss	(25.7		)	(31.3		)	(4.4		)	(5.5		)
Curtailment and settlement (losses) gains recognized	—			—			(7.0		)	3.6
Net periodic pension benefit (cost)	$	3.7		$	12.3		$	(19.9	)	$	(7.6	)

Disaggregation of Service Cost

The net periodic benefit cost of the noncontributory defined benefit pension plans incurred during the years ended December 31, 2019, 2018 and 2017 are reflected in the following captions in the accompanying Consolidated Statements of Earnings ($ in millions):



	Year Ended December 31
	2019			2018			2017
Service cost:
Cost of sales	$	(6.1	)	$	(11.4	)	$	(8.2	)
Selling, general and administrative expenses	(25.3		)	(20.9		)	(23.8		)
Total service cost expense	(31.4		)	(32.3		)	(32.0		)
Other net periodic pension costs:
Nonoperating income (expense), net	15.2			37.0			32.9
Total (expense) income	$	(16.2	)	$	4.7		$	0.9

Fair Values Of Pension Plan Assets

The fair values of the Company’s pension plan assets for both the U.S. and non-U.S. plans as of December 31, 2019, by asset category were as follows ($ in millions):



	Quoted Prices in Active Market (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Cash and equivalents	$	68.0	$	—	$	—	$	68.0
Equity securities:
Common stock	390.6		—		—		390.6
Preferred stock	6.0		—		—		6.0
Fixed income securities:
Corporate bonds	—		35.2		—		35.2
Government issued	—		22.3		—		22.3
Mutual funds	286.7		131.6		—		418.3
Insurance contracts	—		298.9		—		298.9
Total	$	751.3	$	488.0	$	—	1,239.3
Investments measured at NAV ^(a):
Mutual funds							1,070.6
Venture capital, partnerships and other private investments							694.3
Total assets at fair value							$	3,004.2


^(a)	The fair value amounts presented in the table above are intended to permit reconciliation of the fair value hierarchy to the total plan assets.

The fair values of the Company’s pension plan assets for both the U.S. and non-U.S. plans as of December 31, 2018, by asset category were as follows ($ in millions):



	Quoted Prices in Active Market (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Cash and equivalents	$	29.4	$	—	$	—	$	29.4
Equity securities:
Common stock	355.7		—		—		355.7
Preferred stock	4.6		—		—		4.6
Fixed income securities:
Corporate bonds	—		71.8		—		71.8
Government issued	—		32.8		—		32.8
Mutual funds	284.6		205.2		—		489.8
Insurance contracts	—		312.0		—		312.0
Total	$	674.3	$	621.8	$	—	1,296.1
Investments measured at NAV ^(a):
Mutual funds							1,122.0
Venture capital, partnerships and other private investments							391.9
Total assets at fair value							$	2,810.0

^(a)

The fair value amounts presented in the table above are intended to permit reconciliation of the fair value hierarchy to the total plan assets.

Benefit Payments That Reflect Expected Future Service

The following sets forth benefit payments, which reflect expected future service, as appropriate, expected to be paid by the plans in the periods indicated ($ in millions):



	U.S. Pension Plans		Non-U.S. Pension Plans		All Pension Plans
2020	$	173.4	$	44.9	$	218.3
2021	173.9		45.0		218.9
2022	173.3		46.2		219.5
2023	172.5		48.3		220.8
2024	169.7		49.1		218.8
2025 - 2029	778.4		274.8		1,053.2

Other Postretirement Employee Benefit Plans (Tables) - Other postretirement benefits

12 Months Ended

Dec. 31, 2019

Defined Benefit Plans and Other Post-Retirement Benefit Plans [Line Items]

Funded Status Of Pension Plans

The following sets forth the funded status of the domestic plans as of the most recent actuarial valuations using measurement dates of December 31 ($ in millions):



	2019			2018
Change in benefit obligation:
Benefit obligation at beginning of year	$	(141.6	)	$	(155.1	)
Service cost	(0.4		)	(0.4		)
Interest cost	(5.3		)	(5.0		)
Amendments, curtailments and other	(0.1		)	(5.3		)
Actuarial (loss) gain	(4.2		)	8.4
Retiree contributions	(1.7		)	(2.6		)
Benefits paid	14.4			18.4
Benefit obligation at end of year	(138.9		)	(141.6		)
Change in plan assets:
Fair value of plan assets	—			—
Funded status	$	(138.9	)	$	(141.6	)

Weighted Average Assumptions Used To Determine Benefit Obligations And Cost

Weighted average assumptions used to determine benefit obligations at date of measurement:



	2019		2018
Discount rate	3.1	%	4.2	%
Medical trend rate – initial	5.7	%	6.0	%
Medical trend rate – grading period	18 years		19 years
Medical trend rate – ultimate	4.5	%	4.5	%

Effect Of One-Percentage-Point Change In Assumed Health Care Cost Trend Rates

Effect of a one-percentage-point change in assumed health care cost trend rates:



($ in millions)	1% Increase		1% Decrease
Effect on the total of service and interest cost components	$	0.1	$	(0.1	)
Effect on postretirement medical benefit obligation	2.1		(1.8		)

Components of Net Periodic Pension Cost

Components of net periodic benefit cost:



($ in millions)	2019			2018
Service cost	$	(0.4	)	$	(0.4	)
Interest cost	(5.3		)	(5.0		)
Amortization of prior service credit	2.1			2.5
Net periodic benefit cost	$	(3.6	)	$	(2.9	)

Disaggregation of Service Cost

The net periodic benefit cost of the other postretirement employee benefit plans incurred during the years ended December 31, 2019, 2018 and 2017 are reflected in the following captions in the accompanying Consolidated Statements of Earnings ($ in millions):



	Year Ended December 31
	2019			2018			2017
Service cost:
Cost of sales	$	(0.1	)	$	(0.1	)	$	(0.1	)
Selling, general and administrative expenses	(0.3		)	(0.3		)	(0.6		)
Total service cost	(0.4		)	(0.4		)	(0.7		)
Other net periodic pension costs:
Nonoperating income (expense), net	(3.2		)	(2.5		)	(2.2		)
Total	$	(3.6	)	$	(2.9	)	$	(2.9	)

Benefit Payments That Reflect Expected Future Service

The following sets forth benefit payments, which reflect expected future service, as appropriate, expected to be paid in the periods indicated ($ in millions):



2020	$	15.8
2021	13.9
2022	12.6
2023	11.6
2024	10.9
2025 - 2029	47.0

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Schedule Of Earnings From Continuing Operations Before Income Taxes

Earnings from continuing operations before income taxes for the years ended December 31 were as follows ($ in millions):



	2019		2018		2017
United States	$	854.1	$	801.3	$	760.2
International	2,451.2		2,160.6		1,783.0
Total	$	3,305.3	$	2,961.9	$	2,543.2

Schedule Of Provision For Income Taxes

The provision for income taxes from continuing operations for the years ended December 31 were as follows ($ in millions):



	2019			2018			2017
Current:
Federal U.S.	$	453.7		$	283.0		$	395.7
Non-U.S.	799.9			460.4			418.1
State and local	34.6			64.4			(14.3		)
Deferred:
Federal U.S.	(297.1		)	(200.6		)	(400.5		)
Non-U.S.	(127.7		)	(12.3		)	(84.8		)
State and local	9.6			(39.3		)	56.8
Income tax provision	$	873.0		$	555.6		$	371.0

Schedule Of Deferred Income Tax

Deferred income tax assets and liabilities as of December 31 were as follows ($ in millions):



	2019			2018
Deferred tax assets:
Allowance for doubtful accounts	$	19.1		$	19.7
Inventories	73.3			81.2
Pension and postretirement benefits	231.3			222.7
Environmental and regulatory compliance	22.1			22.4
Other accruals and prepayments	194.6			223.7
Stock-based compensation expense	68.5			64.7
Operating lease liabilities	193.7			—
Tax credit and loss carryforwards	703.4			894.5
Valuation allowances	(261.2		)	(389.6		)
Total deferred tax asset	1,244.8			1,139.3
Deferred tax liabilities:
Property, plant and equipment	(113.5		)	(90.0		)
Insurance, including self-insurance	(272.3		)	(564.0		)
Basis difference in LYONs	(13.8		)	(21.6		)
Operating lease ROU assets	(185.7		)	—
Goodwill and other intangibles	(2,311.7		)	(2,774.9		)
Total deferred tax liability	(2,897.0		)	(3,450.5		)
Net deferred tax liability	$	(1,652.2	)	$	(2,311.2	)

Reconciliation Of The Statutory Federal Income Tax Rate To The Effective Tax Rate

The effective income tax rate from continuing operations for the years ended December 31 varies from the U.S. statutory federal income tax rate as follows:



	Percentage of Pretax Earnings
	2019		2018		2017
Statutory federal income tax rate	21.0	%	21.0	%	35.0	%
Increase (decrease) in tax rate resulting from:
State income taxes (net of federal income tax benefit)	0.8	%	0.9	%	0.8	%
Foreign rate differential	(1.4	)%	(0.9	)%	(12.7	)%
Resolution and expiration of statutes of limitation of uncertain tax positions	(2.1	)%	(1.7	)%	(7.2	)%
Permanent foreign exchange losses	—	%	—	%	(0.8	)%
Research credits, uncertain tax positions and other	8.1	%	(0.7	)%	(0.5	)%
TCJA - revaluation of U.S. deferred income taxes	—	%	(1.6	)%	(47.9	)%
TCJA - Transition Tax	—	%	1.8	%	47.9	%
Effective income tax rate	26.4	%	18.8	%	14.6	%

Reconciliation Of Unrecognized Tax Benefits



	2019			2018			2017
Unrecognized tax benefits, beginning of year	$	986.0		$	736.8		$	992.2
Additions based on tax positions related to the current year	71.0			43.1			53.0
Additions for tax positions of prior years	197.3			324.3			39.8
Reductions for tax positions of prior years	(15.8		)	(21.9		)	(14.5		)
Acquisitions, divestitures and other	6.8			9.4			13.4
Lapse of statute of limitations	(51.5		)	(52.9		)	(246.7		)
Settlements	(12.2		)	(41.8		)	(124.8		)
Effect of foreign currency translation	(0.7		)	(11.0		)	24.4
Unrecognized tax benefits, end of year	$	1,180.9		$	986.0		$	736.8

Commitments (Tables)

12 Months Ended

Dec. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

Warranty Accrual

The following is a rollforward of the Company’s accrued warranty liability ($ in millions):



	2019			2018
Balance, January 1	$	67.7		$	68.2
Accruals for warranties issued during the year	48.7			46.0
Settlements made	(43.0		)	(44.6		)
Effect of foreign currency translation	(0.1		)	(1.9		)
Balance, December 31	$	73.3		$	67.7

Stock Transactions And Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2019

Share-based Payment Arrangement, Noncash Expense [Abstract]

Summary of Share Activity

The following table summarizes the Company’s share activity for the years ended December 31 (shares in millions):



	2019	2018	2017
Preferred stock - shares issued:
Balance, beginning of period	—	—	—
Issuance of MCPS	1.7	—	—
Balance, end of period	1.7	—	—

Common stock - shares issued:
Balance, beginning of period	817.9	812.5	807.7
Common stock-based award activity	4.6	4.6	4.8
Common stock issued in connection with acquisitions	—	0.2	—
Common stock issued in connection with LYONs’ conversions	0.9	0.6	—
Issuance of common stock	12.1	—	—
Balance, end of period	835.5	817.9	812.5

Assumptions Used In The Black-Scholes Model To Value Options Granted

The following summarizes the assumptions used in the Black-Scholes model to value options granted during the years ended December 31:



	2019		2018		2017
Risk-free interest rate	1.7 – 2.6%		2.6 – 3.1%		1.8 – 2.2%
Weighted average volatility	20.4	%	21.4	%	17.9	%
Dividend yield	0.5	%	0.6	%	0.7	%
Expected years until exercise	5.0 – 8.0		5.0 – 8.0		5.0 – 8.0

Components Of Share-Based Compensation Program

The following summarizes the components of the Company’s continuing operations stock-based compensation expense for the years ended December 31 ($ in millions):



	2019			2018			2017
RSUs/PSUs:
Pretax compensation expense	$	97.3		$	86.5		$	82.6
Income tax benefit	(20.1		)	(17.7		)	(25.2		)
RSU/PSU expense, net of income taxes	77.2			68.8			57.4
Stock options:
Pretax compensation expense	61.5			51.6			44.5
Income tax benefit	(12.8		)	(10.7		)	(14.0		)
Stock option expense, net of income taxes	48.7			40.9			30.5
Total stock-based compensation:
Pretax compensation expense	158.8			138.1			127.1
Income tax benefit	(32.9		)	(28.4		)	(39.2		)
Total stock-based compensation expense, net of income taxes	$	125.9		$	109.7		$	87.9

Option Activity Under The Company's Stock Plans

The following summarizes option activity under the Company’s stock plans (in millions, except weighted exercise price and number of years):



	Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value
Outstanding as of January 1, 2017	18.9		$	50.07
Granted	4.4		86.14
Exercised	(3.3	)	35.26
Cancelled/forfeited	(1.2	)	70.40
Outstanding as of December 31, 2017	18.8		59.84
Granted	4.1		99.51
Exercised	(3.4	)	41.88
Cancelled/forfeited	(0.9	)	80.14
Outstanding as of December 31, 2018	18.6		70.86
Granted	4.3		117.32
Exercised	(3.5	)	53.02
Cancelled/forfeited	(0.9	)	98.98
Adjustment due to Envista Split-Off ^(a)	(1.5	)	91.65
Outstanding as of December 31, 2019	17.0		82.95		7	$	1,202.3
Vested and expected to vest as of December 31, 2019 ^(b)	16.5		$	82.18	7	$	1,176.3
Vested as of December 31, 2019	7.0		$	62.53	5	$	632.3


^(a)	The “Adjustment due to Envista Split-Off” reflects the cancellation of options which were outstanding as of December 18, 2019 and held by Envista employees, which have been terminated and replaced by Envista equity awards as part of the Envista Split-Off.

^(b)

The “expected to vest” options are the net unvested options that remain after applying the forfeiture rate assumption to total unvested options.

Summary Of Options Outstanding

Options outstanding as of December 31, 2019 are summarized below (in millions, except price per share and number of years):



	Outstanding				Exercisable
Exercise Price	Shares	Average Exercise Price		Average Remaining Life (in years)	Shares	Average Exercise Price
$19.89 to $41.64	1.2	$	36.79	2	1.2	$	36.79
$41.65 to $62.18	2.2	54.47		4	2.2	54.51
$62.19 to $83.27	4.0	67.03		6	2.2	67.12
$83.28 to $101.64	5.8	92.70		8	1.3	90.74
$101.65 to $142.99	3.8	116.76		9	0.1	113.57

RSU And Restricted Stock Activity

The following summarizes information on unvested RSU and PSU activity (in millions, except weighted average grant-date fair value):



	Number of RSUs/PSUs		Weighted Average Grant-Date Fair Value
Unvested as of January 1, 2017	4.5		$	62.16
Granted	1.4		86.04
Vested	(1.5	)	58.48
Forfeited	(0.5	)	68.83
Unvested as of December 31, 2017	3.9		71.27
Granted	1.5		99.15
Vested	(1.2	)	68.37
Forfeited	(0.3	)	78.41
Unvested as of December 31, 2018	3.9		82.21
Granted	1.4		115.38
Vested	(1.1	)	75.51
Forfeited	(0.3	)	92.82
Adjustment due to Envista Split-Off ^(a)	(0.4	)	98.18
Unvested as of December 31, 2019	3.5		94.85

^(a)

The “Adjustment due to Envista Split-Off” reflects the cancellation of RSUs and PSUs which were outstanding as of December 18, 2019 and held by Envista employees which have been terminated and replaced by Envista equity awards as part of the Envista Split-Off.

- Definition

Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding.

+ References

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+ Details

Net Earnings Per Share From Continuing Operations (Tables)

12 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

Components Of Basic And Diluted Earnings Per Share



	2019			2018		2017
Numerator:
Net earnings from continuing operations	$	2,432.3		$	2,406.3	$	2,172.2
MCPS dividends	(68.4		)	—		—
Net earnings from continuing operations attributable to common stockholders for Basic EPS	2,363.9			2,406.3		2,172.2
Adjustment for interest on convertible debentures	1.6			2.2		2.1
Net earnings from continuing operations attributable to common stockholders after assumed conversions for Diluted EPS	$	2,365.5		$	2,408.5	$	2,174.3

Denominator:
Weighted average common shares outstanding used in Basic EPS	715.0			700.6		695.8
Incremental common shares from:
Assumed exercise of dilutive options and vesting of dilutive RSUs and PSUs	8.9			7.2		7.5
Assumed conversion of the convertible debentures	1.6			2.4		2.8
Weighted average common shares outstanding used in Diluted EPS	725.5			710.2		706.1

Basic EPS from continuing operations	$	3.31		$	3.43	$	3.12
Diluted EPS from continuing operations	$	3.26		$	3.39	$	3.08

Segment Information (Tables)

12 Months Ended

Dec. 31, 2019

Segment Reporting, Measurement Disclosures [Abstract]

Segment Results

Detailed segment data for the years ended December 31 is as follows ($ in millions):



	2019			2018			2017
Sales:
Life Sciences	$	6,951.1		$	6,471.4		$	5,710.1
Diagnostics	6,561.5			6,257.6			5,839.9
Environmental & Applied Solutions	4,398.5			4,319.5			3,968.8
Total	$	17,911.1		$	17,048.5		$	15,518.8

Operating profit:
Life Sciences	$	1,401.4		$	1,229.3		$	1,004.3
Diagnostics	1,134.1			1,073.8			871.6
Environmental & Applied Solutions	1,051.6			988.0			914.6
Other	(317.7		)	(236.0		)	(218.2		)
Total	$	3,269.4		$	3,055.1		$	2,572.3

Identifiable assets:
Life Sciences	$	22,381.3		$	22,122.4		$	20,576.8
Diagnostics	14,442.2			14,031.1			14,359.2
Environmental & Applied Solutions	4,881.8			4,637.3			4,649.2
Other	20,376.3			1,200.1			1,069.6
Discontinued operations	—			5,841.6			5,993.8
Total	$	62,081.6		$	47,832.5		$	46,648.6

Depreciation and amortization:
Life Sciences	$	487.1		$	471.2		$	427.9
Diagnostics	582.5			589.0			581.5
Environmental & Applied Solutions	110.6			109.0			99.9
Other	9.3			8.5			7.6
Total	$	1,189.5		$	1,177.7		$	1,116.9

Capital expenditures, gross:
Life Sciences	$	142.4		$	140.1		$	130.6
Diagnostics	434.4			380.0			372.6
Environmental & Applied Solutions	54.4			57.1			60.9
Other	4.3			6.3			6.6
Total	$	635.5		$	583.5		$	570.7

Schedule Of Operations In Geographical Areas

Operations in Geographical Areas:



	Year Ended December 31
($ in millions)	2019		2018		2017
Sales:
United States	$	6,659.7	$	6,133.9	$	5,584.9
China	2,307.9		2,169.4		1,856.4
Germany	1,013.0		1,082.3		995.5
All other (each country individually less than 5% of total sales)	7,930.5		7,662.9		7,082.0
Total	$	17,911.1	$	17,048.5	$	15,518.8

Property, plant and equipment, net:
United States	$	1,076.8	$	1,080.3	$	1,008.2
Germany	162.7		169.2		180.9
United Kingdom	163.1		156.9		151.8
All other (each country individually less than 5% of total property, plant and equipment, net)	899.4		843.2		882.5
Total	$	2,302.0	$	2,249.6	$	2,223.4

Sales By Major Product Group

Sales by Major Product Group:



	Year Ended December 31
($ in millions)	2019		2018		2017
Analytical and physical instrumentation	$	2,463.8	$	2,437.0	$	2,232.9
Research and medical products	13,512.6		12,686.0		11,512.4
Product identification	1,934.7		1,925.5		1,773.5
Total	$	17,911.1	$	17,048.5	$	15,518.8

Quarterly Data-Unaudited (Tables)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Schedule Of Quarterly Data

QUARTERLY DATA-UNAUDITED



($ in millions, except per share data)	1st Quarter			2nd Quarter			3rd Quarter			4th Quarter
2019:
Sales	$	4,220.2		$	4,444.5		$	4,378.0		$	4,868.4
Gross profit	2,354.9			2,483.8			2,441.4			2,703.6
Operating profit	719.7			811.7			776.3			961.7
Net earnings from continuing operations	332.3			676.4			630.7			792.9
Net earnings from discontinued operations, net of income taxes	1.5			54.9			37.3			482.2
Net earnings attributable to common stockholders	327.3			708.6			648.4			1,255.5
Net earnings per common share from continuing operations:¹
Basic	$	0.46		$	0.91		$	0.85		$	1.08	^A
Diluted	$	0.45		$	0.90		$	0.84		$	1.07
Net earnings per common share from discontinued operations:
Basic	$	—		$	0.08		$	0.05		$	0.67	^A
Diluted	$	—		$	0.08		$	0.05		$	0.66
Net earnings per common share:
Basic	$	0.46		$	0.99		$	0.90		$	1.75	^A
Diluted	$	0.46	^B	$	0.97	^B	$	0.89		$	1.73

2018:
Sales	$	4,022.8		$	4,247.6		$	4,173.6		$	4,604.5
Gross profit	2,268.1			2,393.9			2,309.6			2,533.7
Operating profit	687.5			758.9			745.3			863.4
Net earnings from continuing operations	529.4			592.8			600.3			683.8
Net earnings from discontinued operations, net of income taxes	37.2			81.0			63.4			63.0
Net earnings attributable to common stockholders	566.6			673.8			663.7			746.8
Net earnings per common share from continuing operations:
Basic	$	0.76		$	0.85		$	0.86		$	0.97	^A
Diluted	$	0.75		$	0.84		$	0.85		$	0.96	^A
Net earnings per common share from discontinued operations:
Basic	$	0.05		$	0.12		$	0.09		$	0.09
Diluted	$	0.05		$	0.11		$	0.09		$	0.09
Net earnings per common share:
Basic	$	0.81		$	0.96	^B	$	0.95		$	1.06
Diluted	$	0.80		$	0.95		$	0.93	^B	$	1.05	^A

¹ Refer to Note 20 for additional information on the calculation of net earnings per share from continuing operations.

^A Net earnings per common share amounts do not add across to full year amounts due to rounding.

^B Net earnings per common share amount does not add due to rounding.

Schedule II - Valuation And Qualifying Accounts Schedule II - Valuation And Qualifying Accounts (Tables)

12 Months Ended

Dec. 31, 2019

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

Summary of Valuation Allowance

SCHEDULE II—VALUATION AND QUALIFYING ACCOUNTS

($ in millions)



Classification	Balance at Beginning of Period ^(a)		Charged to Costs & Expenses		Impact of Currency			Charged to Other Accounts^(b)		Write-Offs, Write-Downs & Deductions			Balance at End of Period ^(a)
Year ended December 31, 2019:
Allowances deducted from asset account
Allowance for doubtful accounts	$	103.7	$	30.0	$	(0.7	)	$	—	$	(27.6	)	$	105.4
Year ended December 31, 2018:
Allowances deducted from asset account
Allowance for doubtful accounts	$	100.3	$	31.2	$	(3.8	)	$	1.3	$	(25.3	)	$	103.7
Year ended December 31, 2017:
Allowances deducted from asset account
Allowance for doubtful accounts	$	85.6	$	27.1	$	3.8		$	3.5	$	(19.7	)	$	100.3


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

^(b)

Amounts related to businesses acquired, net of amounts related to businesses disposed not included in discontinued operations.

Business And Summary Of Significant Accounting Policies (Narrative) (Details) $ in Millions		12 Months Ended
	Jun. 28, 2019	Dec. 31, 2019 USD ($) Business	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Jan. 01, 2020 USD ($)	Nov. 30, 2019 USD ($)	Jun. 30, 2019 USD ($)	Jan. 31, 2019 USD ($)	Jan. 01, 2019 USD ($)	Jan. 01, 2018 USD ($)
Number of segments \| Business		3
Charges associated with doubtful accounts		$ 30.0	$ 31.0	$ 27.0
Net aggregate financing receivables		244.0	217.0
Payments for purchases of investments		241.0	145.9	$ 0.0
Payments to purchase investments, investments in partnership		189.0	$ 86.0
Operating lease ROU assets		763.7
Operating lease liabilities		796.9
Foreign currency contracts \| Net investment hedging
Derivative, original notional amount		1,875.0						$ 1,900.0
Foreign currency contracts \| Cash flow hedging
Derivative, original notional amount		4,000.0				$ 4,000.0
Interest rate swaps \| Cash flow hedging
Derivative, original notional amount		$ 850.0					$ 850.0
ASU No. 2014-09
Effect of change in accounting principle on retained earnings										$ 3.0
ASU No. 2016-02
Operating lease ROU assets									$ 806.0
Operating lease liabilities									$ 838.0
ASU No. 2016-13 \| Subsequent event
Effect of change in accounting principle on retained earnings					$ 8.0
Minimum \| Interest rate swaps \| Cash flow hedging
Derivative, term of contract	10 years
Maximum \| Interest rate swaps \| Cash flow hedging
Derivative, term of contract	30 years

Business And Summary Of Significant Accounting Policies (Useful Lives Of Depreciable Assets) (Details)	12 Months Ended
	Dec. 31, 2019
Buildings
Property, Plant and Equipment [Line Items]
Useful life (in years)	30 years
Machinery and equipment \| Minimum
Property, Plant and Equipment [Line Items]
Useful life (in years)	3 years
Machinery and equipment \| Maximum
Property, Plant and Equipment [Line Items]
Useful life (in years)	10 years
Customer-leased instruments \| Minimum
Property, Plant and Equipment [Line Items]
Useful life (in years)	5 years
Customer-leased instruments \| Maximum
Property, Plant and Equipment [Line Items]
Useful life (in years)	7 years

Business And Summary Of Significant Accounting Policies (Components of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions		12 Months Ended
	Jan. 01, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Accumulated Other Comprehensive Income Loss [Roll Forward]
Balance at beginning of year	$ (1,994.2)	$ (2,791.1)	$ (1,994.2)	$ (3,021.7)
Adoption of accounting standards	151.2
Increase (decrease)		(475.6)	(678.2)	1,080.2
Income tax impact		34.8	9.5	(29.1)
Other comprehensive income (loss), before reclassifications, net of income taxes		(440.8)	(668.7)	1,051.1
Increase (decrease)		172.2	30.3	(44.1)
Income tax impact		(8.6)	(7.3)	20.5
Amounts reclassified from accumulated other comprehensive income (loss), net of income taxes		163.6	23.0	(23.6)
Total other comprehensive income (loss), net of income taxes		(277.2)	(645.7)	1,027.5
Balance at end of year	(2,145.4)	(3,068.3)	(2,791.1)	(1,994.2)
Foreign currency translation adjustments
Accumulated Other Comprehensive Income Loss [Roll Forward]
Balance at beginning of year	(1,422.1)	(2,098.1)	(1,422.1)	(2,398.2)
Adoption of accounting standards	43.8
Increase (decrease)		(178.4)	(632.2)	976.1
Income tax impact		(5.8)	0.0	0.0
Other comprehensive income (loss), before reclassifications, net of income taxes		(184.2)	(632.2)	976.1
Increase (decrease)		109.0	0.0	0.0
Income tax impact		0.0	0.0	0.0
Amounts reclassified from accumulated other comprehensive income (loss), net of income taxes		109.0	0.0	0.0
Total other comprehensive income (loss), net of income taxes		(75.2)	(632.2)	976.1
Balance at end of year	(1,465.9)	(2,173.3)	(2,098.1)	(1,422.1)
Pension and postretirement plan benefit adjustments
Accumulated Other Comprehensive Income Loss [Roll Forward]
Balance at beginning of year	(571.2)	(691.1)	(571.2)	(642.2)
Adoption of accounting standards	107.2
Increase (decrease)		(149.6)	(44.9)	62.4
Income tax impact		32.0	9.2	(13.4)
Other comprehensive income (loss), before reclassifications, net of income taxes		(117.6)	(35.7)	49.0
Increase (decrease)		35.7	30.3	28.7
Income tax impact		(8.5)	(7.3)	(6.7)
Amounts reclassified from accumulated other comprehensive income (loss), net of income taxes		27.2	23.0	22.0
Total other comprehensive income (loss), net of income taxes		(90.4)	(12.7)	71.0
Balance at end of year	(678.4)	(781.5)	(691.1)	(571.2)
Unrealized gain (loss) on available-for-sale securities
Accumulated Other Comprehensive Income Loss [Roll Forward]
Balance at beginning of year	(0.9)	(1.9)	(0.9)	18.7
Adoption of accounting standards	0.2
Increase (decrease)		1.6	(1.1)	41.7
Income tax impact		(0.4)	0.3	(15.7)
Other comprehensive income (loss), before reclassifications, net of income taxes		1.2	(0.8)	26.0
Increase (decrease)		0.0	0.0	(72.8)
Income tax impact		0.0	0.0	27.2
Amounts reclassified from accumulated other comprehensive income (loss), net of income taxes		0.0	0.0	(45.6)
Total other comprehensive income (loss), net of income taxes		1.2	(0.8)	(19.6)
Balance at end of year	(1.1)	(0.7)	(1.9)	(0.9)
Accumulated Gain (Loss), Cash Flow Hedge, Including Noncontrolling Interest
Accumulated Other Comprehensive Income Loss [Roll Forward]
Balance at beginning of year	0.0	0.0	0.0	0.0
Adoption of accounting standards	0.0
Increase (decrease)		(149.2)	0.0	0.0
Income tax impact		9.0	0.0	0.0
Other comprehensive income (loss), before reclassifications, net of income taxes		(140.2)	0.0	0.0
Increase (decrease)		27.5	0.0	0.0
Income tax impact		(0.1)	0.0	0.0
Amounts reclassified from accumulated other comprehensive income (loss), net of income taxes		27.4	0.0	0.0
Total other comprehensive income (loss), net of income taxes		(112.8)	0.0	0.0
Balance at end of year	$ 0.0	$ (112.8)	$ 0.0	$ 0.0

Revenue (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
Revenue (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Revenue from Contract with Customer [Abstract]
Operating-type lease and sales-type lease, revenues	$ 432	$ 401
Revenue, remaining performance obligation	$ 2,000
Revenue, remaining performance obligation, expected satisfaction in the next 12 months, percent	41.00%
Revenue, remaining performance obligation, expected satisfaction in year two, percent	26.00%
Contract with customer, asset, net	$ 77	82
Contract with customer, liability	806	737
Contract with customer, liability, revenue recognized	$ 603	$ 597

Revenue (Revenue Disaggregation by Geographical Region and Revenue Type) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 27, 2019	Jun. 28, 2019	Mar. 29, 2019	Dec. 31, 2018	Sep. 28, 2018	Jun. 29, 2018	Mar. 30, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disaggregation of Revenue [Line Items]
Sales	$ 4,868.4	$ 4,378.0	$ 4,444.5	$ 4,220.2	$ 4,604.5	$ 4,173.6	$ 4,247.6	$ 4,022.8	$ 17,911.1	$ 17,048.5	$ 15,518.8
North America
Disaggregation of Revenue [Line Items]
Sales									7,012.4	6,469.7
Western Europe
Disaggregation of Revenue [Line Items]
Sales									4,056.5	4,061.2
Other developed markets
Disaggregation of Revenue [Line Items]
Sales									1,112.3	1,074.8
High-growth markets
Disaggregation of Revenue [Line Items]
Sales									5,729.9	5,442.8
Recurring
Disaggregation of Revenue [Line Items]
Sales									12,307.5	11,683.8
Nonrecurring
Disaggregation of Revenue [Line Items]
Sales									5,603.6	5,364.7
Operating segments \| Life Sciences
Disaggregation of Revenue [Line Items]
Sales									6,951.1	6,471.4	5,710.1
Operating segments \| Life Sciences \| North America
Disaggregation of Revenue [Line Items]
Sales									2,595.5	2,295.6
Operating segments \| Life Sciences \| Western Europe
Disaggregation of Revenue [Line Items]
Sales									1,875.5	1,846.7
Operating segments \| Life Sciences \| Other developed markets
Disaggregation of Revenue [Line Items]
Sales									585.7	570.0
Operating segments \| Life Sciences \| High-growth markets
Disaggregation of Revenue [Line Items]
Sales									1,894.4	1,759.1
Operating segments \| Life Sciences \| Recurring
Disaggregation of Revenue [Line Items]
Sales									4,411.2	4,131.8
Operating segments \| Life Sciences \| Nonrecurring
Disaggregation of Revenue [Line Items]
Sales									2,539.9	2,339.6
Operating segments \| Diagnostics
Disaggregation of Revenue [Line Items]
Sales									6,561.5	6,257.6	5,839.9
Operating segments \| Diagnostics \| North America
Disaggregation of Revenue [Line Items]
Sales									2,531.6	2,403.4
Operating segments \| Diagnostics \| Western Europe
Disaggregation of Revenue [Line Items]
Sales									1,132.5	1,155.4
Operating segments \| Diagnostics \| Other developed markets
Disaggregation of Revenue [Line Items]
Sales									401.7	379.1
Operating segments \| Diagnostics \| High-growth markets
Disaggregation of Revenue [Line Items]
Sales									2,495.7	2,319.7
Operating segments \| Diagnostics \| Recurring
Disaggregation of Revenue [Line Items]
Sales									5,524.5	5,272.0
Operating segments \| Diagnostics \| Nonrecurring
Disaggregation of Revenue [Line Items]
Sales									1,037.0	985.6
Operating segments \| Environmental & Applied Solutions
Disaggregation of Revenue [Line Items]
Sales									4,398.5	4,319.5	$ 3,968.8
Operating segments \| Environmental & Applied Solutions \| North America
Disaggregation of Revenue [Line Items]
Sales									1,885.3	1,770.7
Operating segments \| Environmental & Applied Solutions \| Western Europe
Disaggregation of Revenue [Line Items]
Sales									1,048.5	1,059.1
Operating segments \| Environmental & Applied Solutions \| Other developed markets
Disaggregation of Revenue [Line Items]
Sales									124.9	125.7
Operating segments \| Environmental & Applied Solutions \| High-growth markets
Disaggregation of Revenue [Line Items]
Sales									1,339.8	1,364.0
Operating segments \| Environmental & Applied Solutions \| Recurring
Disaggregation of Revenue [Line Items]
Sales									2,371.8	2,280.0
Operating segments \| Environmental & Applied Solutions \| Nonrecurring
Disaggregation of Revenue [Line Items]
Sales									$ 2,026.7	$ 2,039.5

Acquisitions (Narrative) (Details) $ in Millions				6 Months Ended	12 Months Ended
Acquisitions (Narrative) (Details) $ in Millions	Mar. 01, 2019 USD ($)	Feb. 25, 2019 USD ($)	Apr. 13, 2018 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2019 USD ($) Business Businesses	Dec. 31, 2018 USD ($) Business	Dec. 31, 2017 USD ($) Business
Business Acquisition [Line Items]
Revenues of pending product lines disposal					$ 170.0
Net cash consideration					$ 331.3	$ 2,173.3	$ 385.8
Number of segments \| Business					3
Goodwill					$ 217.1	1,275.4	$ 264.8
GE Biopharma Acquisition
Business Acquisition [Line Items]
Consideration transferred		$ 21,000.0
Pension liabilities assumed		$ 400.0
Proceeds from underwritten public offerings of stock	$ 3,000.0
Proceeds from issuance of debt				$ 10,800.0
Proceeds from commercial paper borrowings and cash on hand					7,200.0
Transaction costs				$ 93.0	$ 93.0
IDT
Business Acquisition [Line Items]
Net cash consideration			$ 2,100.0			2,078.2
Revenue reported by acquired entity for last annual period			260.0
Goodwill			$ 1,200.0			1,212.6
Transaction costs						$ 15.0
Other businesses acquired
Business Acquisition [Line Items]
Number of businesses acquired					5	1	9
Net cash consideration					$ 331.0	$ 95.1	$ 386.0
Revenue reported by acquired entity for last annual period					72.0	53.0	160.0
Goodwill					$ 217.0	62.8	$ 265.0
Fair value adjustment to inventory \| IDT
Business Acquisition [Line Items]
Fair value adjustments to inventory						$ 1.0

Acquisitions (Fair Values Of The Assets Acquired And Liabilities) (Details) - USD ($) $ in Millions		12 Months Ended
	Apr. 13, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Business Acquisition [Line Items]
Trade accounts receivable		$ 9.0	$ 41.1	$ 21.6
Inventories		9.3	14.8	20.9
Property, plant and equipment		3.9	88.4	9.0
Goodwill		217.1	1,275.4	264.8
Other intangible assets, primarily customer relationships, trade names and technology		113.6	850.7	154.5
Trade accounts payable		(3.2)	(6.7)	(9.9)
Other assets and liabilities, net		(18.4)	(66.5)	(75.1)
Net assets acquired		331.3	2,197.2	385.8
Less: noncash consideration		0.0	(23.9)	0.0
Net cash consideration		331.3	2,173.3	385.8
IDT
Business Acquisition [Line Items]
Trade accounts receivable			36.0
Inventories			14.8
Property, plant and equipment			88.2
Goodwill	$ 1,200.0		1,212.6
Other intangible assets, primarily customer relationships, trade names and technology			811.0
Trade accounts payable			(5.5)
Other assets and liabilities, net			(55.0)
Net assets acquired			2,102.1
Less: noncash consideration			(23.9)
Net cash consideration	$ 2,100.0		2,078.2
Other businesses acquired
Business Acquisition [Line Items]
Trade accounts receivable			5.1
Inventories			0.0
Property, plant and equipment			0.2
Goodwill		217.0	62.8	265.0
Other intangible assets, primarily customer relationships, trade names and technology			39.7
Trade accounts payable			(1.2)
Other assets and liabilities, net			(11.5)
Net assets acquired			95.1
Less: noncash consideration			0.0
Net cash consideration		$ 331.0	$ 95.1	$ 386.0

Acquisitions (Results Of Operations If Acquisition Was Consummated) (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Business Acquisition, Pro Forma Information [Abstract]
Sales	$ 17,919.9	$ 17,222.7
Net earnings from continuing operations	$ 2,429.2	$ 2,385.3
Diluted net earnings per share from continuing operations	$ 3.26	$ 3.36

Discontinued Operations (Narrative) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions				1 Months Ended	3 Months Ended	12 Months Ended
	Dec. 18, 2019	Oct. 24, 2019	Sep. 20, 2019	Sep. 27, 2019	Dec. 31, 2019	Dec. 31, 2019	Dec. 17, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from issuance or sale of equity						$ 643.4		$ 0.0	$ 0.0
Gain on disposition of Envista before income taxes						451.1		0.0	0.0
Reclassification from AOCI						(172.2)		(30.3)	44.1
Discontinued operation, revenues						2,610.1		2,844.5	2,810.9
Payments of debt extinguishment costs		$ 7.0				6.5		0.0	0.0
Payments of debt extinguishment costs, after-tax		$ 5.0
Payments of debt extinguishment costs, per diluted share		$ 0.01
Discontinued operation, income tax benefit						$ (41.4)		(86.3)	(75.7)
Senior notes \| Redeemed notes
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Repayments of debt					$ 882.0
Senior notes \| 2.4% senior unsecured notes due 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Repayments of debt		$ 500.0
Interest rate of debt instrument		2.40%			2.40%	2.40%
Senior notes \| 5.0% senior unsecured notes due 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Repayments of debt		$ 375.0
Interest rate of debt instrument		5.00%
Envista \| Envista Split-Off
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Percentage of ownership after transaction	80.60%
Shares repurchased	22.9
Gain on disposition of Envista before income taxes					$ 451.0
Increase to noncontrolling interest						$ 689.0
Noncontrolling interest, decrease from deconsolidation						692.0
Discontinued operation, revenues							$ 2,600.0	2,800.0
Separation and IPO costs						69.0		15.0
Envista \| IPO
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of shares issued in transaction			30.8
Ownership percentage by noncontrolling owners			19.40%
Price per share			$ 22.00
Proceeds from issuance or sale of equity			$ 643.0
Sale of stock, consideration transfered			2,000.0
Proceeds from issuance of debt			1,300.0	$ 1,300.0
Sale of Envista Holdings Corporation common stock			$ 60.0
Fortive
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Discontinued operation, income tax benefit									22.0
Foreign currency translation adjustments
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Reclassification from AOCI						$ (109.0)		$ 0.0	$ 0.0
Foreign currency translation adjustments \| Envista \| Envista Split-Off
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Reclassification from AOCI	$ (109.0)

Discontinued Operations (Components Of Income Related To Discontinued Operations) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 27, 2019	Jun. 28, 2019	Mar. 29, 2019	Dec. 31, 2018	Sep. 28, 2018	Jun. 29, 2018	Mar. 30, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Discontinued Operation, Income (Loss) from Discontinued Operation Disclosures
Sales									$ 2,610.1	$ 2,844.5	$ 2,810.9
Cost of sales									(1,177.2)	(1,242.7)	(1,189.7)
Selling, general and administrative expenses									(1,094.6)	(1,081.1)	(1,030.7)
Research and development expenses									(151.4)	(172.0)	(172.4)
Other income, net									1.7	2.7	0.1
Interest expense									(9.1)	(20.5)	(22.6)
Income from discontinued operations before income taxes									179.5	330.9	395.6
Gain on disposition of Envista before income taxes									451.1	0.0	0.0
Earnings from discontinued operations before income taxes									630.6	330.9	395.6
Income taxes									(41.4)	(86.3)	(75.7)
Earnings from discontinued operations, net of income taxes									589.2	244.6	319.9
Net earnings attributable to noncontrolling interest									(13.3)	0.0	0.0
Net earnings from discontinued operations attributable to common stockholders	$ 482.2	$ 37.3	$ 54.9	$ 1.5	$ 63.0	$ 63.4	$ 81.0	$ 37.2	$ 575.9	$ 244.6	$ 319.9

Discontinued Operations Discontinued Operations (Major Classes of Assets and Liabilities Related To Discontinued Operations) (Details) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Other long-term assets	$ 0.0	$ 5,054.8
Envista \| Envista Split-Off
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Trade accounts receivable, net		459.8
Inventories		278.7
Prepaid expenses and other current assets		48.3
Property, plant and equipment, net		261.6
Goodwill		3,325.5
Other intangible assets, net		1,390.3
Other long-term assets		77.4
Total assets, discontinued operations		5,841.6
Trade accounts payable		217.4
Accrued expenses and other liabilities		387.6
Other long-term liabilities		374.2
Total liabilities, discontinued operations		$ 979.2

Leases (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
Leases (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Operating Leased Assets [Line Items]
Lessee, operating lease, option to terminate, term	30 days
Rent expense		$ 234	$ 207
Maximum
Operating Leased Assets [Line Items]
Lessee, operating lease, renewal term	30 years

Leases (Components of Lease Expense) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019 USD ($)
Leases [Abstract]
Fixed operating lease expense	$ 195.9
Variable operating lease expense	45.0
Total operating lease expense	$ 240.9

Leases (Supplemental Cash Flow Information) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019 USD ($)
Leases [Abstract]
Cash paid for amounts included in the measurement of operating lease liabilities	$ 202.0
ROU assets obtained in exchange for operating lease obligations	$ 144.9

Leases (Supplemental Balance Sheet Information) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Leases [Abstract]
Operating lease ROU assets, other long term assets	$ 763.7
Operating lease liabilities, accrued expenses and other liabilities	157.8	$ 0.0
Operating lease liabilities, other long-term liabilities	639.1	$ 0.0
Total operating lease liabilities	$ 796.9
Weighted average remaining lease term	7 years
Weighted average discount rate	3.10%

Leases (Maturities of Lease Liabilities) (Details) $ in Millions	Dec. 31, 2019 USD ($)
Leases [Abstract]
Due in next twelve months	$ 179.5
Due year two	142.5
Due year three	124.9
Due year four	106.3
Due year five	90.1
Due year five	244.9
Total operating lease payments	888.2
Less: imputed interest	91.3
Total operating lease liabilities	$ 796.9

Leases (Future minimum rental payments) (Details) $ in Millions	Dec. 31, 2018 USD ($)
Leases [Abstract]
Future minimum payments, due next twelve months	$ 173.6
Future minimum payments, due in two years	143.4
Future minimum payments, due in three years	111.4
Future minimum payments, due in four years	97.3
Future minimum payments, due in five years	83.2
Future minimum payments, due thereafter	$ 226.5

Inventories (Schedule Of Inventory) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Inventory, Net [Abstract]
Finished goods	$ 833.5	$ 864.4
Work in process	284.9	279.6
Raw materials	509.9	487.4
Total	$ 1,628.3	$ 1,631.4

Property, Plant And Equipment (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	$ 5,063.4	$ 4,702.7
Less: accumulated depreciation	(2,761.4)	(2,453.1)
Property, plant and equipment, net	2,302.0	2,249.6	$ 2,223.4
Land and improvements
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	149.6	151.8
Buildings
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	953.8	895.4
Machinery and equipment
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	2,193.9	2,022.6
Customer-leased instruments
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	$ 1,766.1	$ 1,632.9

Goodwill And Other Intangible Assets (Narrative) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019 USD ($) Reporting_Unit	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)
Goodwill [Line Items]
Reporting units for goodwill impairment testing \| Reporting_Unit	5
Goodwill	$ 22,712.5	$ 22,580.5	$ 21,768.6
Impairment loss	$ 0.0	$ 0.0	0.0
Finite-lived intangible assets, weighted-average life (in years)	13 years	18 years
Total intangible amortization expense	$ 625.0	$ 616.0	$ 579.0
Future amortization expense, year one	623.0
Future amortization expense, year two	613.0
Future amortization expense, year three	595.0
Future amortization expense, year four	589.0
Future amortization expense, year five	550.0
Minimum
Goodwill [Line Items]
Goodwill	505.0
Maximum
Goodwill [Line Items]
Goodwill	$ 13,300.0

Goodwill And Other Intangible Assets (Rollforward Of Goodwill) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Goodwill [Roll Forward]
Balance at beginning of year	$ 22,580.5	$ 21,768.6
Attributable to acquisitions	217.1	1,275.4	$ 264.8
Adjustments due to finalization of purchase price adjustments	(6.9)	7.5
Foreign currency translation and other	(78.2)	(471.0)
Balance at end of year	22,712.5	22,580.5	21,768.6
Operating segments \| Life Sciences
Goodwill [Roll Forward]
Balance at beginning of year	13,311.0	12,335.5
Attributable to acquisitions	213.4	1,212.6
Adjustments due to finalization of purchase price adjustments	(6.9)	2.8
Foreign currency translation and other	(45.7)	(239.9)
Balance at end of year	13,471.8	13,311.0	12,335.5
Operating segments \| Diagnostics
Goodwill [Roll Forward]
Balance at beginning of year	6,925.6	7,079.5
Attributable to acquisitions	2.6	0.0
Adjustments due to finalization of purchase price adjustments	0.0	0.0
Foreign currency translation and other	(27.0)	(153.9)
Balance at end of year	6,901.2	6,925.6	7,079.5
Operating segments \| Environmental & Applied Solutions
Goodwill [Roll Forward]
Balance at beginning of year	2,343.9	2,353.6
Attributable to acquisitions	1.1	62.8
Adjustments due to finalization of purchase price adjustments	0.0	4.7
Foreign currency translation and other	(5.5)	(77.2)
Balance at end of year	$ 2,339.5	$ 2,343.9	$ 2,353.6

Goodwill And Other Intangible Assets (Schedule of Finite-lived Intangible Assets And Indefinite-lived Intangible Assets By Major Class) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Intangible Assets, Gross (Excluding Goodwill) [Abstract]
Finite-lived intangibles, gross carrying amount	$ 9,080.1	$ 9,006.1
Total intangibles, gross carrying amount	13,296.1	13,213.4
Finite-lived intangibles, accumulated amortization	(3,546.4)	(2,930.6)
Trademarks and trade names
Intangible Assets, Gross (Excluding Goodwill) [Abstract]
Indefinite-lived intangibles, gross carrying amount	4,216.0	4,207.3
Patents and technology
Intangible Assets, Gross (Excluding Goodwill) [Abstract]
Finite-lived intangibles, gross carrying amount	2,712.7	2,679.0
Finite-lived intangibles, accumulated amortization	(934.1)	(764.5)
Customer relationships and other intangibles
Intangible Assets, Gross (Excluding Goodwill) [Abstract]
Finite-lived intangibles, gross carrying amount	6,367.4	6,327.1
Finite-lived intangibles, accumulated amortization	$ (2,612.3)	$ (2,166.1)

Fair Value Measurements (Financial Assets And Liabilities Carried At Fair Value) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Assets:
Available-for-sale debt securities	$ 33.7	$ 38.3
Investment in equity securities	110.8	60.3
Cross-currency swap derivative contracts, assets	25.7
Liabilities:
Cross-currency swap derivative contracts, liabilities	111.7
Deferred compensation plans	70.4	49.8
Quoted Prices in Active Market (Level 1)
Assets:
Available-for-sale debt securities	0.0	0.0
Investment in equity securities	0.0	0.0
Cross-currency swap derivative contracts, assets	0.0
Liabilities:
Cross-currency swap derivative contracts, liabilities	0.0
Deferred compensation plans	0.0	0.0
Significant Other Observable Inputs (Level 2)
Assets:
Available-for-sale debt securities	33.7	38.3
Investment in equity securities	0.0	0.0
Cross-currency swap derivative contracts, assets	25.7
Liabilities:
Cross-currency swap derivative contracts, liabilities	111.7
Deferred compensation plans	70.4	49.8
Significant Unobservable Inputs (Level 3)
Assets:
Available-for-sale debt securities	0.0	0.0
Investment in equity securities	0.0	0.0
Cross-currency swap derivative contracts, assets	0.0
Liabilities:
Cross-currency swap derivative contracts, liabilities	0.0
Deferred compensation plans	$ 0.0	$ 0.0

Fair Value Measurements Fair Value Measurements (Carrying Amounts And Fair Values Of Financial Instruments) (Details) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale debt securities	$ 33.7	$ 38.3
Investment in equity securities	110.8	60.3
Cross-currency swap derivative contracts, assets	25.7
Cross-currency swap derivative contracts, liabilities	111.7
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale debt securities	33.7	38.3
Investment in equity securities	110.8	60.3
Cross-currency swap derivative contracts, assets	25.7	0.0
Cross-currency swap derivative contracts, liabilities	111.7	0.0
Notes payable and current portion of long-term debt	212.4	51.8
Long-term debt	21,516.7	9,688.5
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale debt securities	33.7	38.3
Investment in equity securities	110.8	60.3
Cross-currency swap derivative contracts, assets	25.7	0.0
Cross-currency swap derivative contracts, liabilities	111.7	0.0
Notes payable and current portion of long-term debt	212.4	51.8
Long-term debt	$ 21,896.9	$ 9,990.6

Accrued Expenses And Other Liabilities (Accrued Expenses And Other Liabilities) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Current
Compensation and benefits	$ 931.3	$ 904.2
Pension and postretirement benefits	150.8	68.8
Taxes, income and other	356.5	286.0
Deferred Revenue, Current	687.8	626.8
Sales and product allowances	115.4	111.4
Operating lease liabilities under ASC 842	157.8	0.0
Other	805.7	692.1
Total	3,205.3	2,689.3
Noncurrent
Compensation and benefits	223.0	205.0
Pension and postretirement benefits	898.4	917.8
Taxes, income and other	3,308.8	3,330.2
Deferred Revenue, Noncurrent	118.1	109.8
Sales and product allowances	2.0	2.0
Operating lease liabilities under ASC 842	639.1	0.0
Other	161.5	136.8
Total	$ 5,350.9	$ 4,701.6

Financing (Commercial Paper Programs And Credit Facilities) (Narrative) (Details)			10 Months Ended	56 Months Ended
	Dec. 31, 2019 USD ($)	Aug. 27, 2019 USD ($)	Nov. 06, 2018 USD ($)	Aug. 27, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2015 USD ($)
Line of Credit Facility [Line Items]
Debt discounts, premiums and debt issuance costs	$ 112,000,000				$ 19,000,000
Commercial paper
Line of Credit Facility [Line Items]
Debt, weighted average annual interest rate, basis points	(0.20%)
Long-term debt weighted average maturity	63 days
Euro-denominated commercial paper \| Commercial paper
Line of Credit Facility [Line Items]
Long-term debt, commerical paper	$ 5,000,000,000.0
Revolving credit facility \| Superseded Credit Facility \| Long-term debt
Line of Credit Facility [Line Items]
Line of credit, maximum borrowing capacity						$ 4,000,000,000.0
Revolving credit facility \| Superseded Credit Facility \| Short-term debt
Line of Credit Facility [Line Items]
Line of credit facility, maximum amount outstanding during period				$ 0
Revolving credit facility \| Superseded 364-Day Facility [Member] \| Short-term debt
Line of Credit Facility [Line Items]
Line of credit, maximum borrowing capacity					$ 1,000,000,000.0
Line of credit facility, maximum amount outstanding during period			$ 0
Revolving credit facility \| Five-Year Facility \| Long-term debt
Line of Credit Facility [Line Items]
Line of credit, maximum borrowing capacity		$ 5,000,000,000.0		5,000,000,000.0
Additional borrowing capacity		$ 2,500,000,000		2,500,000,000
Revolving credit facility \| Five-Year Facility \| Long-term debt \| Federal funds rate
Line of Credit Facility [Line Items]
Basis spread percentage to determine floating interest rate		0.50%
Revolving credit facility \| Five-Year Facility \| Long-term debt \| Eurodollar
Line of Credit Facility [Line Items]
Basis spread percentage to determine floating interest rate		1.00%
Revolving credit facility \| Five-Year Facility \| Minimum \| Long-term debt
Line of Credit Facility [Line Items]
Commitment fee, percent		0.04%
Revolving credit facility \| Five-Year Facility \| Minimum \| Long-term debt \| LIBOR-based rate
Line of Credit Facility [Line Items]
Basis spread percentage to determine floating interest rate		0.585%
Revolving credit facility \| Five-Year Facility \| Maximum \| Long-term debt
Line of Credit Facility [Line Items]
Commitment fee, percent		0.125%
Revolving credit facility \| Five-Year Facility \| Maximum \| Long-term debt \| LIBOR-based rate
Line of Credit Facility [Line Items]
Basis spread percentage to determine floating interest rate		1.00%
Revolving credit facility \| 364-Day Facility \| Short-term debt
Line of Credit Facility [Line Items]
Line of credit, maximum borrowing capacity		$ 5,000,000,000.0		$ 5,000,000,000.0
Conversion fee, percent		0.75%
Revolving credit facility \| 364-Day Facility \| Short-term debt \| Federal funds rate
Line of Credit Facility [Line Items]
Basis spread percentage to determine floating interest rate		0.50%
Revolving credit facility \| 364-Day Facility \| Short-term debt \| Eurodollar
Line of Credit Facility [Line Items]
Basis spread percentage to determine floating interest rate		1.00%
Revolving credit facility \| 364-Day Facility \| Minimum \| Short-term debt
Line of Credit Facility [Line Items]
Commitment fee, percent		0.03%
Revolving credit facility \| 364-Day Facility \| Minimum \| Short-term debt \| LIBOR-based rate
Line of Credit Facility [Line Items]
Basis spread percentage to determine floating interest rate		0.595%
Revolving credit facility \| 364-Day Facility \| Maximum \| Short-term debt
Line of Credit Facility [Line Items]
Commitment fee, percent		0.12%
Revolving credit facility \| 364-Day Facility \| Maximum \| Short-term debt \| LIBOR-based rate
Line of Credit Facility [Line Items]
Basis spread percentage to determine floating interest rate		1.005%
Revolving credit facility \| 2020 Credit Facilities
Line of Credit Facility [Line Items]
Credit facility, borrowings outstanding	$ 0
Revolving credit facility \| 2020 Credit Facilities \| Minimum \| Long-term debt
Line of Credit Facility [Line Items]
Debt instrument, covenants, leverage ratio		0.65		0.65
Revolving credit facility \| 2020 Credit Facilities \| Maximum \| Long-term debt
Line of Credit Facility [Line Items]
Debt instrument, covenants, leverage ratio		1		1

Financing (2019 Debt Issuances) (Narrative) (Details) € in Millions					1 Months Ended
	Nov. 07, 2019 USD ($)	Sep. 20, 2019 USD ($)	Sep. 18, 2019 USD ($)	Sep. 18, 2019 EUR (€)	Sep. 27, 2019 USD ($)	Sep. 27, 2019 EUR (€)
Envista \| IPO
Debt Instrument [Line Items]
Proceeds from issuance of debt		$ 1,300,000,000			$ 1,300,000,000
Sale of stock, consideration transfered		$ 2,000,000,000.0
Biopharma euronotes \| Senior notes
Debt Instrument [Line Items]
Proceeds from issuance of debt			$ 6,800,000,000	€ 6,200
Biopharma notes \| Senior notes
Debt Instrument [Line Items]
Proceeds from issuance of debt	$ 4,000,000,000.0
Envista term loan facility \| Unsecured debt \| Envista \| IPO
Debt Instrument [Line Items]
Debt instrument, face amount					650,000,000
Envista euro term loan facility \| Unsecured debt \| Envista \| IPO
Debt Instrument [Line Items]
Debt instrument, face amount \| €						€ 600
Envista credit facility \| Envista \| IPO \| Long-term debt \| Revolving credit facility
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity					250,000,000
Credit facility, borrowings outstanding					$ 0

Financing (Covenants and Redemption Provisions Applicable to Notes) (Narrative) (Details)	Dec. 31, 2019
Bonds \| Swiss franc-denominated senior unsecured bonds
Debt Instrument [Line Items]
Debt instrument, percentage of principal amount redeemed, threshold	85.00%
Senior notes
Debt Instrument [Line Items]
Percentage of notes' principal in addition to accrued interest that redemption price must equal or be greater than if a credit downgrade or change in control occurs	101.00%
Senior notes \| 2027 and 2032 Yen notes
Debt Instrument [Line Items]
Percentage of notes' principal in addition to accrued interest that redemption price must equal or be greater than if a credit downgrade or change in control occurs	100.00%
Debt instrument, redemption price, percentage	100.00%

Financing (LYONS) (Narrative) (Details) $ / shares in Units, shares in Thousands, $ in Millions		12 Months Ended
	Dec. 31, 2019 $ / shares shares	Dec. 31, 2019 USD ($) $ / shares shares	Dec. 31, 2018 USD ($) $ / shares	Dec. 31, 2017 USD ($)	Dec. 31, 2001 USD ($)
Debt Instrument [Line Items]
Proceeds from borrowings (maturities longer than 90 days)		$ 12,112.8	$ 0.0	$ 1,782.1
Common stock par value \| $ / shares	$ 0.01	$ 0.01	$ 0.01
Convertible debt \| Zero-coupon LYONS due 2021
Debt Instrument [Line Items]
Debt instrument, face amount					$ 830.0
Proceeds from borrowings (maturities longer than 90 days)					505.0
Repayments of long-term lines of credit					$ 100.0
Interest rate of debt instrument	0.00%	0.00%			2.375%
Debt instrument, convertible, conversion ratio					0.0381998
Debt conversion, converted instrument, shares issued \| shares	23,000	935
Debt conversion, converted instrument, tax benefit (expense)		$ 9.0
Average market price percentage for measurement period resulting in payment of contingent interest to debt instrument holders					120.00%
Debt instrument percentage					0.0315%
Debt Instrument, periodic payment, interest		$ 1.0	$ 2.0	$ 2.0

Financing (Long-Term Debt Repayments) (Narrative) (Details) $ / shares in Units, € in Millions, $ in Millions			1 Months Ended	12 Months Ended
	Oct. 24, 2019 USD ($) $ / shares	Jul. 08, 2019 EUR (€)	Sep. 30, 2018 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)
Debt Instrument [Line Items]
Payments of debt extinguishment costs	$ 7.0			$ 6.5	$ 0.0	$ 0.0
Payments of debt extinguishment costs, after-tax	$ 5.0
Payments of debt extinguishment costs, per diluted share \| $ / shares	$ 0.01
Senior notes \| 2.4% senior unsecured notes due 2020
Debt Instrument [Line Items]
Repayments of debt	$ 500.0
Interest rate of debt instrument	2.40%			2.40%
Senior notes \| 5.0% senior unsecured notes due 2020
Debt Instrument [Line Items]
Repayments of debt	$ 375.0
Interest rate of debt instrument	5.00%
Senior notes \| 1.0% senior unsecured notes due 2019
Debt Instrument [Line Items]
Repayments of debt \| €		€ 600
Interest rate of debt instrument				1.00%
Senior notes \| 1.65% senior unsecured notes due 2018
Debt Instrument [Line Items]
Repayments of debt			$ 500.0

Financing (Other) (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Debt Disclosure [Abstract]
Interest paid	$ 129	$ 140	$ 130

Financing (Components Of Debt) (Table) (Details) € in Millions, SFr in Millions, $ in Millions, ¥ in Billions	Dec. 31, 2019 USD ($)	Dec. 31, 2019 CHF (SFr)	Dec. 31, 2019 EUR (€)	Dec. 31, 2019 JPY (¥)	Nov. 07, 2019 USD ($)	Oct. 24, 2019	Dec. 31, 2018 USD ($)	Dec. 31, 2018 CHF (SFr)	Dec. 31, 2018 EUR (€)	Dec. 31, 2018 JPY (¥)	Dec. 31, 2001 USD ($)
Debt Instrument [Line Items]
Total debt	$ 21,729.1						$ 9,740.3
Less: currently payable	212.4						51.8
Long-term debt	21,516.7						9,688.5
U.S. dollar-denominated commercial paper \| Commercial paper
Debt Instrument [Line Items]
Total debt	0.0						72.8
Euro-denominated commercial paper \| Commercial paper
Debt Instrument [Line Items]
Total debt	5,146.2		€ 4,600.0				2,377.5		€ 2,100.0
1.0% senior unsecured notes due 2019 \| Senior notes
Debt Instrument [Line Items]
Total debt	$ 0.0						687.0
Interest rate of debt instrument	1.00%	1.00%	1.00%	1.00%
Debt instrument, face amount \| €			€ 0.0						600.0
2.4% senior unsecured notes due 2020 \| Senior notes
Debt Instrument [Line Items]
Total debt	$ 0.0						498.5
Interest rate of debt instrument	2.40%	2.40%	2.40%	2.40%		2.40%
5.0% senior unsecured notes due 2020 \| Senior notes
Debt Instrument [Line Items]
Total debt	$ 0.0						386.7
Interest rate of debt instrument	5.00%	5.00%	5.00%	5.00%
Zero-coupon LYONS due 2021 \| Convertible debt
Debt Instrument [Line Items]
Total debt	$ 33.6						56.2
Interest rate of debt instrument	0.00%	0.00%	0.00%	0.00%							2.375%
Debt instrument, face amount											$ 830.0
0.352% senior unsecured notes due 2021 \| Senior notes
Debt Instrument [Line Items]
Total debt	$ 275.8						273.2
Interest rate of debt instrument	0.352%	0.352%	0.352%	0.352%
Debt instrument, face amount \| ¥				¥ 30.0						¥ 30.0
1.7% senior unsecured notes due 2022 \| Senior notes
Debt Instrument [Line Items]
Total debt	$ 894.8						913.2
Interest rate of debt instrument	1.70%	1.70%	1.70%	1.70%
Debt instrument, face amount \| €			€ 800.0						800.0
Floating rate senior unsecured notes due 2022 \| Senior notes
Debt Instrument [Line Items]
Total debt	$ 279.8						285.7
Debt instrument, face amount \| €			€ 250.0						250.0
2.05% senior unsecured notes due 2022 \| Senior notes
Debt Instrument [Line Items]
Total debt	$ 696.9						0.0
Interest rate of debt instrument	2.05%	2.05%	2.05%	2.05%	2.05%
Debt instrument, face amount					$ 700.0
0.5% senior unsecured bonds due 2023 \| Bonds
Debt Instrument [Line Items]
Total debt	$ 558.9						550.7
Interest rate of debt instrument	0.50%	0.50%	0.50%	0.50%
Debt instrument, face amount \| SFr		SFr 540						SFr 540
2.2% senior unsecured notes due 2024 \| Senior notes
Debt Instrument [Line Items]
Total debt	$ 696.2						0.0
Interest rate of debt instrument	2.20%	2.20%	2.20%	2.20%	2.20%
Debt instrument, face amount					$ 700.0
2.5% senior unsecured notes due 2025 \| Senior notes
Debt Instrument [Line Items]
Total debt	$ 893.7						912.6
Interest rate of debt instrument	2.50%	2.50%	2.50%	2.50%
Debt instrument, face amount \| €			€ 800.0						800.0
3.35% senior unsecured notes due 2025 \| Senior notes
Debt Instrument [Line Items]
Total debt	$ 497.3						496.8
Interest rate of debt instrument	3.35%	3.35%	3.35%	3.35%
0.2% senior unsecured notes due 2026 \| Senior notes
Debt Instrument [Line Items]
Total debt	$ 1,392.3						0.0
Interest rate of debt instrument	0.20%	0.20%	0.20%	0.20%
Debt instrument, face amount \| €			€ 1,300.0						0.0
0.3% senior unsecured notes due 2027 \| Senior notes
Debt Instrument [Line Items]
Total debt	$ 282.5						279.9
Interest rate of debt instrument	0.30%	0.30%	0.30%	0.30%
Debt instrument, face amount \| ¥				¥ 30.8						30.8
1.2% senior unsecured notes due 2027 \| Senior notes
Debt Instrument [Line Items]
Total debt	$ 668.0						682.0
Interest rate of debt instrument	1.20%	1.20%	1.20%	1.20%
Debt instrument, face amount \| €			€ 600.0						600.0
0.45% senior unsecured notes due 2028 \| Senior notes
Debt Instrument [Line Items]
Total debt	$ 1,390.1						0.0
Interest rate of debt instrument	0.45%	0.45%	0.45%	0.45%
Debt instrument, face amount \| €			€ 1,300.0						0.0
1.125% senior unsecured bonds due 2028 \| Bonds
Debt Instrument [Line Items]
Total debt	$ 221.0						218.1
Interest rate of debt instrument	1.125%	1.125%	1.125%	1.125%
Debt instrument, face amount \| SFr		SFr 210						SFr 210
2.6% senior unsecured notes due 2029 \| Senior notes
Debt Instrument [Line Items]
Total debt	$ 794.8						0.0
Interest rate of debt instrument	2.60%	2.60%	2.60%	2.60%	2.60%
Debt instrument, face amount					$ 800.0
0.75% senior unsecured notes due 2031 \| Senior notes
Debt Instrument [Line Items]
Total debt	$ 1,948.7						0.0
Interest rate of debt instrument	0.75%	0.75%	0.75%	0.75%
Debt instrument, face amount \| €			€ 1,800.0						0.0
0.65% senior unsecured notes due 2032 \| Senior notes
Debt Instrument [Line Items]
Total debt	$ 487.8						483.4
Interest rate of debt instrument	0.65%	0.65%	0.65%	0.65%
Debt instrument, face amount \| ¥				¥ 53.2						¥ 53.2
1.35% senior unsecured notes due 2039 \| Senior notes
Debt Instrument [Line Items]
Total debt	$ 1,383.6						0.0
Interest rate of debt instrument	1.35%	1.35%	1.35%	1.35%
Debt instrument, face amount \| €			€ 1,300.0						0.0
3.25% senior unsecured notes due 2039 \| Senior notes
Debt Instrument [Line Items]
Total debt	$ 890.3						0.0
Interest rate of debt instrument	3.25%	3.25%	3.25%	3.25%	3.25%
Debt instrument, face amount					$ 900.0
4.375% senior unsecured notes due 2045 \| Senior notes
Debt Instrument [Line Items]
Total debt	$ 499.4						499.3
Interest rate of debt instrument	4.375%	4.375%	4.375%	4.375%
1.8% senior unsecured notes due 2049 \| Senior notes
Debt Instrument [Line Items]
Total debt	$ 830.9						0.0
Interest rate of debt instrument	1.80%	1.80%	1.80%	1.80%
Debt instrument, face amount \| €			€ 750.0						€ 0.0
3.4% senior unsecured notes due 2049 \| Senior notes
Debt Instrument [Line Items]
Total debt	$ 890.2						0.0
Interest rate of debt instrument	3.40%	3.40%	3.40%	3.40%	3.40%
Debt instrument, face amount					$ 900.0
Other
Debt Instrument [Line Items]
Total debt	$ 76.3						$ 66.7

Financing (Long-Term Indebtedness Related to the Pending GE Biopharma Acquisition) (Table) (Details) - Senior notes € in Millions, $ in Millions	Dec. 31, 2019	Nov. 07, 2019 USD ($)	Sep. 18, 2019 EUR (€)
0.2% senior notes due 2026
Debt Instrument [Line Items]
Debt instrument, face amount \| €			€ 1,250.0
Interest rate of debt instrument			0.20%
Debt instrument, redemption price, percentage			99.833%
0.45% senior notes due 2028
Debt Instrument [Line Items]
Debt instrument, face amount \| €			€ 1,250.0
Interest rate of debt instrument			0.45%
Debt instrument, redemption price, percentage			99.751%
0.75% senior notes due 2031
Debt Instrument [Line Items]
Debt instrument, face amount \| €			€ 1,750.0
Interest rate of debt instrument			0.75%
Debt instrument, redemption price, percentage			99.92%
1.35% senior notes due 2039
Debt Instrument [Line Items]
Debt instrument, face amount \| €			€ 1,250.0
Interest rate of debt instrument			1.35%
Debt instrument, redemption price, percentage			99.461%
1.8% senior notes due 2049
Debt Instrument [Line Items]
Debt instrument, face amount \| €			€ 750.0
Interest rate of debt instrument			1.80%
Debt instrument, redemption price, percentage			99.564%
2.05% senior unsecured notes due 2022
Debt Instrument [Line Items]
Debt instrument, face amount \| $		$ 700.0
Interest rate of debt instrument	2.05%	2.05%
Debt instrument, redemption price, percentage	99.994%	99.994%
2.2% senior unsecured notes due 2024
Debt Instrument [Line Items]
Debt instrument, face amount \| $		$ 700.0
Interest rate of debt instrument	2.20%	2.20%
Debt instrument, redemption price, percentage	99.952%	99.952%
2.6% senior unsecured notes due 2029
Debt Instrument [Line Items]
Debt instrument, face amount \| $		$ 800.0
Interest rate of debt instrument	2.60%	2.60%
Debt instrument, redemption price, percentage	99.903%	99.903%
3.25% senior unsecured notes due 2039
Debt Instrument [Line Items]
Debt instrument, face amount \| $		$ 900.0
Interest rate of debt instrument	3.25%	3.25%
Debt instrument, redemption price, percentage	99.809%	99.809%
3.4% senior unsecured notes due 2049
Debt Instrument [Line Items]
Debt instrument, face amount \| $		$ 900.0
Interest rate of debt instrument	3.40%	3.40%
Debt instrument, redemption price, percentage	99.756%	99.756%

Financing (Long-Term Indebtedness) (Table) (Details) € in Millions, SFr in Millions, $ in Millions, ¥ in Billions	Dec. 31, 2019 USD ($)	Nov. 07, 2019 USD ($)	Sep. 18, 2019 USD ($)	Sep. 18, 2019 EUR (€)	Jun. 30, 2017 USD ($)	Jun. 30, 2017 EUR (€)	May 11, 2017 USD ($)	May 11, 2017 JPY (¥)	Feb. 28, 2016 USD ($)	Feb. 28, 2016 JPY (¥)	Dec. 08, 2015 USD ($)	Dec. 08, 2015 CHF (SFr)	Sep. 15, 2015 USD ($)	Jul. 08, 2015 USD ($)	Jul. 08, 2015 EUR (€)	Dec. 31, 2019 CHF (SFr)	Dec. 31, 2019 EUR (€)	Dec. 31, 2019 JPY (¥)	Dec. 31, 2018 USD ($)	Dec. 31, 2018 CHF (SFr)	Dec. 31, 2018 EUR (€)	Dec. 31, 2018 JPY (¥)	Dec. 31, 2001 USD ($)
Debt Instrument [Line Items]
Long-term debt	$ 21,729.1																		$ 9,740.3
Other
Debt Instrument [Line Items]
Long-term debt	76.3																		66.7
Convertible debt \| Zero-coupon LYONS due 2021
Debt Instrument [Line Items]
Long-term debt	$ 33.6																		56.2
Interest rate of debt instrument	0.00%															0.00%	0.00%	0.00%					2.375%
Debt instrument, face amount																							$ 830.0
Senior notes \| 0.352% senior unsecured notes due 2021
Debt Instrument [Line Items]
Long-term debt	$ 275.8																		273.2
Interest rate of debt instrument	0.352%															0.352%	0.352%	0.352%
Debt instrument, redemption price, percentage	100.00%
Net proceeds from debt									$ 262.0	¥ 29.9
Debt instrument, face amount \| ¥																		¥ 30.0				¥ 30.0
Senior notes \| 1.7% senior unsecured notes due 2022
Debt Instrument [Line Items]
Long-term debt	$ 894.8																		913.2
Interest rate of debt instrument	1.70%															1.70%	1.70%	1.70%
Debt instrument, redemption price, percentage	99.651%
Debt instrument, face amount \| €																	€ 800.0				€ 800.0
Senior notes \| Floating rate senior unsecured notes due 2022
Debt Instrument [Line Items]
Long-term debt	$ 279.8																		285.7
Debt instrument, redemption price, percentage	100.147%
Basis spread percentage to determine floating interest rate	0.30%
Debt instrument, face amount \| €																	€ 250.0				250.0
Senior notes \| 2.05% senior unsecured notes due 2022
Debt Instrument [Line Items]
Long-term debt	$ 696.9																		0.0
Interest rate of debt instrument	2.05%	2.05%														2.05%	2.05%	2.05%
Debt instrument, redemption price, percentage	99.994%	99.994%
Debt instrument, face amount		$ 700.0
Senior notes \| 2.2% senior unsecured notes due 2024
Debt Instrument [Line Items]
Long-term debt	$ 696.2																		0.0
Interest rate of debt instrument	2.20%	2.20%														2.20%	2.20%	2.20%
Debt instrument, redemption price, percentage	99.952%	99.952%
Debt instrument, face amount		$ 700.0
Senior notes \| 2.5% senior unsecured notes due 2025
Debt Instrument [Line Items]
Long-term debt	$ 893.7																		912.6
Interest rate of debt instrument	2.50%															2.50%	2.50%	2.50%
Debt instrument, redemption price, percentage	99.878%
Debt instrument, face amount \| €																	€ 800.0				800.0
Senior notes \| 3.35% senior unsecured notes due 2025
Debt Instrument [Line Items]
Long-term debt	$ 497.3																		496.8
Interest rate of debt instrument	3.35%															3.35%	3.35%	3.35%
Debt instrument, redemption price, percentage	99.857%
Senior notes \| 0.2% senior unsecured notes due 2026
Debt Instrument [Line Items]
Long-term debt	$ 1,392.3																		0.0
Interest rate of debt instrument	0.20%															0.20%	0.20%	0.20%
Debt instrument, redemption price, percentage	99.833%
Debt instrument, face amount \| €																	€ 1,300.0				0.0
Senior notes \| 0.3% senior unsecured notes due 2027
Debt Instrument [Line Items]
Long-term debt	$ 282.5																		279.9
Interest rate of debt instrument	0.30%															0.30%	0.30%	0.30%
Debt instrument, redemption price, percentage	100.00%
Debt instrument, face amount \| ¥																		¥ 30.8				30.8
Senior notes \| 1.2% senior unsecured notes due 2027
Debt Instrument [Line Items]
Long-term debt	$ 668.0																		682.0
Interest rate of debt instrument	1.20%															1.20%	1.20%	1.20%
Debt instrument, redemption price, percentage	99.682%
Debt instrument, face amount \| €																	€ 600.0				600.0
Senior notes \| 0.45% senior unsecured notes due 2028
Debt Instrument [Line Items]
Long-term debt	$ 1,390.1																		0.0
Interest rate of debt instrument	0.45%															0.45%	0.45%	0.45%
Debt instrument, redemption price, percentage	99.751%
Debt instrument, face amount \| €																	€ 1,300.0				0.0
Senior notes \| 2.6% senior unsecured notes due 2029
Debt Instrument [Line Items]
Long-term debt	$ 794.8																		0.0
Interest rate of debt instrument	2.60%	2.60%														2.60%	2.60%	2.60%
Debt instrument, redemption price, percentage	99.903%	99.903%
Debt instrument, face amount		$ 800.0
Senior notes \| 0.75% senior unsecured notes due 2031
Debt Instrument [Line Items]
Long-term debt	$ 1,948.7																		0.0
Interest rate of debt instrument	0.75%															0.75%	0.75%	0.75%
Debt instrument, redemption price, percentage	99.92%
Debt instrument, face amount \| €																	€ 1,800.0				0.0
Senior notes \| 0.65% senior unsecured notes due 2032
Debt Instrument [Line Items]
Long-term debt	$ 487.8																		483.4
Interest rate of debt instrument	0.65%															0.65%	0.65%	0.65%
Debt instrument, redemption price, percentage	100.00%
Debt instrument, face amount \| ¥																		¥ 53.2				¥ 53.2
Senior notes \| 1.35% senior unsecured notes due 2039
Debt Instrument [Line Items]
Long-term debt	$ 1,383.6																		0.0
Interest rate of debt instrument	1.35%															1.35%	1.35%	1.35%
Debt instrument, redemption price, percentage	99.461%
Debt instrument, face amount \| €																	€ 1,300.0				0.0
Senior notes \| 3.25% senior unsecured notes due 2039
Debt Instrument [Line Items]
Long-term debt	$ 890.3																		0.0
Interest rate of debt instrument	3.25%	3.25%														3.25%	3.25%	3.25%
Debt instrument, redemption price, percentage	99.809%	99.809%
Debt instrument, face amount		$ 900.0
Senior notes \| 4.375% senior unsecured notes due 2045
Debt Instrument [Line Items]
Long-term debt	$ 499.4																		499.3
Interest rate of debt instrument	4.375%															4.375%	4.375%	4.375%
Debt instrument, redemption price, percentage	99.784%
Senior notes \| 1.8% senior unsecured notes due 2049
Debt Instrument [Line Items]
Long-term debt	$ 830.9																		0.0
Interest rate of debt instrument	1.80%															1.80%	1.80%	1.80%
Debt instrument, redemption price, percentage	99.564%
Debt instrument, face amount \| €																	€ 750.0				€ 0.0
Senior notes \| 3.4% senior unsecured notes due 2049
Debt Instrument [Line Items]
Long-term debt	$ 890.2																		0.0
Interest rate of debt instrument	3.40%	3.40%														3.40%	3.40%	3.40%
Debt instrument, redemption price, percentage	99.756%	99.756%
Debt instrument, face amount		$ 900.0
Senior notes \| Euro-denominated senior unsecured notes, tranches
Debt Instrument [Line Items]
Net proceeds from debt														$ 2,400.0	€ 2,200.0
Senior notes \| U.S. dollar-denominated senior unsecured notes
Debt Instrument [Line Items]
Net proceeds from debt													$ 2,000.0
Senior notes \| Euronotes
Debt Instrument [Line Items]
Net proceeds from debt					$ 940.0	€ 843.0
Senior notes \| 2027 and 2032 Yen notes
Debt Instrument [Line Items]
Debt instrument, redemption price, percentage	100.00%
Net proceeds from debt							$ 744.0	¥ 83.6
Senior notes \| Biopharma euronotes
Debt Instrument [Line Items]
Net proceeds from debt			$ 6,800.0	€ 6,200.0
Senior notes \| Biopharma notes
Debt Instrument [Line Items]
Net proceeds from debt		$ 4,000.0
Bonds \| 0.5% senior unsecured bonds due 2023
Debt Instrument [Line Items]
Long-term debt	$ 558.9																		550.7
Interest rate of debt instrument	0.50%															0.50%	0.50%	0.50%
Debt instrument, redemption price, percentage	100.924%
Debt instrument, face amount \| SFr																SFr 540				SFr 540
Bonds \| 1.125% senior unsecured bonds due 2028
Debt Instrument [Line Items]
Long-term debt	$ 221.0																		$ 218.1
Interest rate of debt instrument	1.125%															1.125%	1.125%	1.125%
Debt instrument, redemption price, percentage	102.87%
Debt instrument, face amount \| SFr																SFr 210				SFr 210
Bonds \| Swiss franc-denominated senior unsecured bonds
Debt Instrument [Line Items]
Net proceeds from debt											$ 739.0	SFr 758
Debt instrument, face amount \| SFr												SFr 100
Bonds \| 0.0% senior unsecured bonds due 2017
Debt Instrument [Line Items]
Interest rate of debt instrument												0.00%
Commercial paper \| U.S. dollar denominated and euro-denominated commercial paper
Debt Instrument [Line Items]
Long-term debt	$ 5,146.2

Financing (Schedule of Future Minimum Lease Payments for Capital Leases) (Table) (Details) $ in Millions	Dec. 31, 2019 USD ($)
Debt Disclosure [Abstract]
Long-term debt, maturities, repayments of principal in next twelve months	$ 212.4
Long-term debt, maturities, repayments of principal in year two	298.2
Long-term debt, maturities, repayments of principal in year three	1,875.3
Long-term debt, maturities, repayments of principal in year four	547.7
Long-term debt, maturities, repayments of principal in year five	5,689.6
Long-term debt, maturities, repayments of principal after year five	$ 13,105.9

Hedging transactions and derivative financial instruments Hedging transactions and derivative financial instruments (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Nov. 30, 2019	Jun. 30, 2019	Jan. 31, 2019
Derivative [Line Items]
Reclassification from AOCI	$ (172.2)	$ (30.3)	$ 44.1
Accumulated Gain (Loss), Cash Flow Hedge, Including Noncontrolling Interest
Derivative [Line Items]
Reclassification from AOCI	(27.5)	$ 0.0	$ 0.0
Foreign currency contracts \| Accumulated Gain (Loss), Cash Flow Hedge, Including Noncontrolling Interest
Derivative [Line Items]
Reclassification from AOCI	(27.0)
Interest rate swaps \| Accumulated Gain (Loss), Cash Flow Hedge, Including Noncontrolling Interest
Derivative [Line Items]
Reclassification from AOCI	(1.0)
Net investment hedging \| Foreign currency contracts
Derivative [Line Items]
Derivative, original notional amount	1,875.0					$ 1,900.0
Derivative, notional amount	1,000.0
Cash flow hedging \| Foreign currency contracts
Derivative [Line Items]
Derivative, original notional amount	4,000.0			$ 4,000.0
Derivative, notional amount	4,000.0
Cash flow hedging \| Interest rate swaps
Derivative [Line Items]
Derivative, original notional amount	850.0				$ 850.0
Derivative, notional amount	$ 0.0

Hedging transactions and derivative financial instruments Hedging transactions and derivative financial instruments (Summary of Notional Values and Pretax Impact in Fair Values) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Nov. 30, 2019	Jun. 30, 2019	Jan. 31, 2019
Derivative Instruments, Gain (Loss) [Line Items]
Derivative and nonderivative, original notional amount	$ 13,000.9
Derivative and nonderivative, notional amount	11,275.9
Gain (loss) recognized in OCI on derivatives and nonderivatives	4.8
Net investment hedging \| Foreign currency contracts
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, original notional amount	1,875.0			$ 1,900.0
Derivative, notional amount	1,000.0
Gain (loss) recognized in OCI on derivatives	24.1
Net investment hedging \| Foreign currency denominated debt
Derivative Instruments, Gain (Loss) [Line Items]
Nonderivative hedging instruments	6,275.9
Gain (loss) recognized in OCI on nonderivatives	129.9
Cash flow hedging \| Foreign currency contracts
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, original notional amount	4,000.0	$ 4,000.0
Derivative, notional amount	4,000.0
Gain (loss) recognized in OCI on derivatives	(111.7)
Cash flow hedging \| Interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, original notional amount	850.0		$ 850.0
Derivative, notional amount	0.0
Gain (loss) recognized in OCI on derivatives	$ (37.5)

Hedging transactions and derivative financial instruments Hedging transactions and derivative financial instruments (Derivative and Nonderivative Debt Instruments) (Details) - Net investment hedging $ in Millions	Dec. 31, 2019 USD ($)
Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Derivative assets	$ 25.7
Accrued expenses and other liabilities
Derivatives, Fair Value [Line Items]
Derivative liabilities	111.7
Long-term debt
Derivatives, Fair Value [Line Items]
Nonderivative hedging instruments	$ 6,275.9

Pension Benefit Plans (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plan Disclosure [Line Items]
NAV per share, investment redemption, notice period		90 days
Expense for all defined benefit and defined contributions pension plans		$ 203.0	$ 167.0	$ 159.0
Pension benefit plans
Defined Benefit Plan Disclosure [Line Items]
Unrecognized prior service credits, before tax		4.0
Unrecognized net prior service credits, net of tax		4.0
Unrecognized actuarial losses, before tax		(1,000.0)
Unrecognized actuarial losses, net of tax		(789.0)
Future amortization of prior service cost (credit)		0.2
Future amortization of prior service cost (credit), net of tax		0.2
Future amortization of gain (loss)		(46.0)
Future amortization of gain (loss), net of tax		$ (36.0)
Pension benefit plans \| U.S. Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Long-term rate of return on asset assumptions		7.00%	7.00%	7.00%
Employer contributions		$ 9.7	$ 54.7
Expected employer contributions within the next year		95.0
Curtailment and settlement (losses) gains recognized		$ 0.0	$ 0.0
Pension benefit plans \| U.S. Pension Benefits \| Scenario, forecast
Defined Benefit Plan Disclosure [Line Items]
Long-term rate of return on asset assumptions	7.00%
Pension benefit plans \| U.S. Pension Benefits \| Minimum
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets, target allocation, percentage		60.00%
Pension benefit plans \| U.S. Pension Benefits \| Maximum
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets, target allocation, percentage		70.00%
Pension benefit plans \| Non-U.S. plan
Defined Benefit Plan Disclosure [Line Items]
Long-term rate of return on asset assumptions		3.90%	4.00%
Employer contributions		$ 43.5	$ 45.3
Expected employer contributions within the next year		40.0
Curtailment and settlement (losses) gains recognized		(7.0)	$ 3.6
Curtailment and settlement (losses) gains recognized, net of tax		$ (6.0)
Curtailment and settlement (losses) gains recognized, per diluted share		$ 0.01
Pension benefit plans \| Non-U.S. plan \| Minimum
Defined Benefit Plan Disclosure [Line Items]
Long-term rate of return on asset assumptions		0.80%	1.00%
Pension benefit plans \| Non-U.S. plan \| Maximum
Defined Benefit Plan Disclosure [Line Items]
Long-term rate of return on asset assumptions		5.00%	5.00%
Pension benefit plans \| Non-U.S. plan \| Weighted average
Defined Benefit Plan Disclosure [Line Items]
Long-term rate of return on asset assumptions		3.90%	4.00%

Pension Benefit Plans (Funded Status Of Pension Plans) (Details) - Pension benefit plans - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Change in benefit obligation:
Service cost	$ (31.4)	$ (32.3)	$ (32.0)
Change in plan assets:
Fair value of plan assets at beginning of year	2,810.0
Fair value of plan assets at end of year	3,004.2	2,810.0
U.S. Pension Benefits
Change in benefit obligation:
Benefit obligation at beginning of year	(2,340.5)	(2,608.0)
Service cost	(6.4)	(6.7)
Interest cost	(88.6)	(80.9)
Employee contributions	0.0	0.0
Benefits and other expenses paid	164.4	178.6
Acquisitions and other	0.0	0.0
Actuarial (loss) gain	(236.8)	145.1
Amendments, settlements and curtailments	39.9	31.4
Foreign exchange rate impact	0.0	0.0
Benefit obligation at end of year	(2,468.0)	(2,340.5)	(2,608.0)
Change in plan assets:
Fair value of plan assets at beginning of year	1,778.3	2,004.9
Actual return (loss) on plan assets	282.6	(72.1)
Employer contributions	9.7	54.7
Employee contributions	0.0	0.0
Amendments and settlements	(40.6)	(30.6)
Benefits and other expenses paid	(164.4)	(178.6)
Acquisitions and other	0.0	0.0
Foreign exchange rate impact	0.0	0.0
Fair value of plan assets at end of year	1,865.6	1,778.3	2,004.9
Funded status	(602.4)	(562.2)
Non-U.S. plan
Change in benefit obligation:
Benefit obligation at beginning of year	(1,314.5)	(1,428.5)
Service cost	(25.0)	(25.6)
Interest cost	(23.9)	(24.0)
Employee contributions	(5.2)	(5.3)
Benefits and other expenses paid	47.6	44.5
Acquisitions and other	0.0	(3.6)
Actuarial (loss) gain	(152.2)	59.8
Amendments, settlements and curtailments	47.4	15.0
Foreign exchange rate impact	(20.7)	53.2
Benefit obligation at end of year	(1,446.5)	(1,314.5)	(1,428.5)
Change in plan assets:
Fair value of plan assets at beginning of year	1,031.7	1,103.0
Actual return (loss) on plan assets	114.9	(19.9)
Employer contributions	43.5	45.3
Employee contributions	5.2	5.3
Amendments and settlements	(36.5)	(16.8)
Benefits and other expenses paid	(47.6)	(44.5)
Acquisitions and other	0.0	1.9
Foreign exchange rate impact	27.4	(42.6)
Fair value of plan assets at end of year	1,138.6	1,031.7	$ 1,103.0
Funded status	$ (307.9)	$ (282.8)

Pension Benefit Plans (Weighted Average Assumptions Used To Determine Benefit Obligations) (Details) - Pension benefit plans	Dec. 31, 2019	Dec. 31, 2018
U.S. Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Discount rate	3.20%	4.30%
Rate of compensation increase	4.00%	4.00%
Non-U.S. plan
Defined Benefit Plan Disclosure [Line Items]
Discount rate	1.40%	2.10%
Rate of compensation increase	2.40%	2.40%

Pension Benefit Plans (Components Of Net Periodic Pension Costs) (Details) - Pension benefit plans - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ (31.4)	$ (32.3)	$ (32.0)
Net periodic pension benefit (cost)	(16.2)	4.7	$ 0.9
U.S. Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	(6.4)	(6.7)
Interest cost	(88.6)	(80.9)
Expected return on plan assets	125.3	132.1
Amortization of prior service (cost) credit	(0.9)	(0.9)
Amortization of net loss	(25.7)	(31.3)
Curtailment and settlement (losses) gains recognized	0.0	0.0
Net periodic pension benefit (cost)	3.7	12.3
Non-U.S. plan
Defined Benefit Plan Disclosure [Line Items]
Service cost	(25.0)	(25.6)
Interest cost	(23.9)	(24.0)
Expected return on plan assets	40.2	43.4
Amortization of prior service (cost) credit	0.2	0.5
Amortization of net loss	(4.4)	(5.5)
Curtailment and settlement (losses) gains recognized	(7.0)	3.6
Net periodic pension benefit (cost)	$ (19.9)	$ (7.6)

Pension Benefit Plans (Disaggregation of Service Costs) (Details) - Pension benefit plans - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ (31.4)	$ (32.3)	$ (32.0)
Nonoperating income (expense), net	15.2	37.0	32.9
Net periodic pension benefit (cost)	(16.2)	4.7	0.9
Cost of sales
Defined Benefit Plan Disclosure [Line Items]
Service cost	(6.1)	(11.4)	(8.2)
Selling, general and administrative expenses
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ (25.3)	$ (20.9)	$ (23.8)

Pension Benefit Plans (Weighted Average Assumptions Used To Determine Net Periodic Pension Cost) (Details) - Pension benefit plans	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
U.S. Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Discount rate	4.30%	3.60%
Expected long-term return on plan assets	7.00%	7.00%	7.00%
Rate of compensation increase	4.00%	4.00%
Non-U.S. plan
Defined Benefit Plan Disclosure [Line Items]
Discount rate	2.10%	1.90%
Expected long-term return on plan assets	3.90%	4.00%
Rate of compensation increase	2.40%	2.40%

Pension Benefit Plans (Fair Values Of Pension Plan Assets) (Details) - Pension benefit plans - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 3,004.2	$ 2,810.0
Quoted Prices in Active Market (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	751.3	674.3
Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	488.0	621.8
Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.0	0.0
Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,239.3	1,296.1
Cash and cash equivalents \| Quoted Prices in Active Market (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	68.0	29.4
Cash and cash equivalents \| Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	68.0	29.4
Common stock \| Quoted Prices in Active Market (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	390.6	355.7
Common stock \| Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	390.6	355.7
Preferred stock \| Quoted Prices in Active Market (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	6.0	4.6
Preferred stock \| Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	6.0	4.6
Corporate bonds \| Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	35.2	71.8
Corporate bonds \| Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	35.2	71.8
Government issued \| Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	22.3	32.8
Government issued \| Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	22.3	32.8
Mutual funds \| Quoted Prices in Active Market (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	286.7	284.6
Mutual funds \| Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	131.6	205.2
Mutual funds \| Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	418.3	489.8
Mutual funds \| Fair Value Measured at Net Asset Value Per Share
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,070.6	1,122.0
Insurance contracts \| Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	298.9	312.0
Insurance contracts \| Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	298.9	312.0
Venture capital, partnerships and other private investments \| Fair Value Measured at Net Asset Value Per Share
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 694.3	$ 391.9

Pension Benefit Plans (Benefit Payments That Reflect Expected Future Service) (Details) - Pension benefit plans $ in Millions	Dec. 31, 2019 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Expected future benefit payments, next 12 months	$ 218.3
Expected future benefit payments, in year two	218.9
Expected future benefit payments, in year three	219.5
Expected future benefit payments, in year four	220.8
Expected future benefit payments, in year five	218.8
Expected future benefit payments, thereafter	1,053.2
U.S. Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Expected future benefit payments, next 12 months	173.4
Expected future benefit payments, in year two	173.9
Expected future benefit payments, in year three	173.3
Expected future benefit payments, in year four	172.5
Expected future benefit payments, in year five	169.7
Expected future benefit payments, thereafter	778.4
Non-U.S. plan
Defined Benefit Plan Disclosure [Line Items]
Expected future benefit payments, next 12 months	44.9
Expected future benefit payments, in year two	45.0
Expected future benefit payments, in year three	46.2
Expected future benefit payments, in year four	48.3
Expected future benefit payments, in year five	49.1
Expected future benefit payments, thereafter	$ 274.8

Other Postretirement Employee Benefit Plans (Narrative) (Details) - Other postretirement benefits - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Postretirement liability, noncurrent	$ (123)	$ (129)
Medical trend rate - initial	5.70%	6.00%
Medical trend rate - ultimate	4.50%	4.50%
Unrecognized prior service credits, before tax	$ (16)
Unrecognized net prior service credits, net of tax	(12)
Unrecognized actuarial losses, before tax	(13)
Unrecognized actuarial losses, net of tax	(9)
Future amortization of prior service cost (credit)	(2)
Future amortization of prior service cost (credit), net of tax	$ (2)

Other Postretirement Employee Benefit Plans (Funded Status Of The Domestic Plans) (Details) - Other postretirement benefits - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Change in benefit obligation:
Benefit obligation at beginning of year	$ (141.6)	$ (155.1)
Service cost	(0.4)	(0.4)	$ (0.7)
Interest cost	(5.3)	(5.0)
Amendments, curtailments and other	(0.1)	(5.3)
Actuarial (loss) gain	(4.2)	8.4
Retiree contributions	(1.7)	(2.6)
Benefits paid	14.4	18.4
Benefit obligation at end of year	(138.9)	(141.6)	$ (155.1)
Change in plan assets:
Fair value of plan assets	0.0	0.0
Funded status	$ (138.9)	$ (141.6)

Other Postretirement Employee Benefit Plans (Weighted Average Assumptions Used To Determine Benefit Obligations) (Details) - Other postretirement benefits	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Discount rate	3.10%	4.20%
Medical trend rate - initial	5.70%	6.00%
Medical trend rate - grading period	18 years	19 years
Medical trend rate - ultimate	4.50%	4.50%

Other Postretirement Employee Benefit Plans (Effect Of One-Percentage-Point Change In Assumed Health Care Cost Trend Rates) (Details) - Other postretirement benefits $ in Millions	12 Months Ended
	Dec. 31, 2019 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Effect on the total of service and interest cost components, 1% increase	$ 0.1
Effect on the total of service and interest cost components, 1% decrease	(0.1)
Effect on postretirement medical benefit obligation, 1% increase	2.1
Effect on postretirement medical benefit obligation, 1% decrease	$ (1.8)

Other Postretirement Employee Benefit Plans (Components Of Net Periodic Benefit Cost) (Details) - Other postretirement benefits - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ (0.4)	$ (0.4)	$ (0.7)
Interest cost	(5.3)	(5.0)
Amortization of prior service (cost) credit	2.1	2.5
Net periodic pension benefit (cost)	$ (3.6)	$ (2.9)	$ (2.9)

Other Postretirement Employee Benefit Plans Other Postretirement Employee Benefit Plans (Disaggregation of Service Cost) (Details) - Other postretirement benefits - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ (0.4)	$ (0.4)	$ (0.7)
Nonoperating income (expense), net	(3.2)	(2.5)	(2.2)
Net periodic pension benefit (cost)	(3.6)	(2.9)	(2.9)
Cost of sales
Defined Benefit Plan Disclosure [Line Items]
Service cost	(0.1)	(0.1)	(0.1)
Selling, general and administrative expenses
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ (0.3)	$ (0.3)	$ (0.6)

Other Postretirement Employee Benefit Plans (Benefit Payments That Reflect Expected Future Service) (Details) - Other postretirement benefits $ in Millions	Dec. 31, 2019 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Expected future benefit payments, next 12 months	$ 15.8
Expected future benefit payments, in year two	13.9
Expected future benefit payments, in year three	12.6
Expected future benefit payments, in year four	11.6
Expected future benefit payments, in year five	10.9
Expected future benefit payments, thereafter	$ 47.0

Income Taxes (Narrative) (Details) $ / shares in Units, kr in Millions, $ in Millions		6 Months Ended	12 Months Ended
	Dec. 31, 2017 USD ($)	Mar. 29, 2019 USD ($)	Dec. 31, 2019 USD ($) $ / shares	Dec. 31, 2018 USD ($) $ / shares	Dec. 31, 2017 USD ($) $ / shares	Dec. 16, 2019 DKK (kr)	Aug. 27, 2019 DKK (kr)	Dec. 31, 2016 USD ($)	Dec. 10, 2013 DKK (kr)
Discontinued operation, deferred tax assets				$ 131.0
Discontinued operations, deferred tax liabilities				333.0
Net deferred tax liabilities			$ (1,652.2)	$ (2,311.2)
Valuation allowance, deferred tax asset, change in amount			128.0
Basis differences in investments outside the U.S.			$ 9,600.0
Statutory federal income tax rate	21.00%		21.00%	21.00%	35.00%
Effective income tax rate			26.40%	18.80%	14.60%
Effective income tax rate reconciliation, other reconciling items, percent			(6.50%)	(1.20%)	(5.60%)
Income tax payments			$ 847.0	$ 673.0	$ 689.0
Employee service share-based compensation, tax benefit from exercise of stock options			79.0	57.0	85.0
Excess tax benefit from share-based compensation, operating activities			55.0	38.0	55.0
Deferred tax assets, valuation allowances			261.2	389.6
Gross unrecognized tax benefits	$ 736.8		1,180.9	986.0	736.8			$ 992.2
Unrecognized tax benefits, net of offsetting indirect tax benefits				988.0
Unrecognized tax benefits, indirect tax benefits				117.0
Potential interest and penalties				(119.0)
Recognized potential interest and penalties			227.0	41.0	41.0
Unrecognized tax benefits that would impact effective tax rate			1,300.0
Deferred tax asset, other
Deferred tax assets, valuation allowances			32.0
Domestic tax authority \| IRS
Proposed adjustments to taxable income, self-insurance, other		$ 2,700.0
Foreign tax authority
Income tax examination, amount of tax assessments 2004-2009			266.0						kr 1,800
Income tax examination, amount of tax assessments 2010-2012			159.0				kr 1,100
Income tax examination, amount of tax assessments 2013-2015			113.0			kr 751
Income tax holiday, aggregate dollar amount			$ 71.0	$ 69.0	$ 62.0
Income tax holiday, income tax benefits per diluted share \| $ / shares			$ 0.10	$ 0.10	$ 0.09
United States
Net deferred tax liabilities			$ (1,600.0)	$ (2,000.0)
International
Net deferred tax liabilities			(90.0)	(277.0)
Discontinued operations
Net deferred tax liabilities				$ (202.0)
Continuing operations
Net operating loss carryforwards			504.0
Operating loss carryforwards, valuation allowances			162.0
Gross unrecognized tax benefits			1,200.0
Unrecognized tax benefits, net of offsetting indirect tax benefits			1,400.0
Unrecognized tax benefits, indirect tax benefits			131.0
Potential interest and penalties			(320.0)
Estimated reduction in unrecognized tax benefits within twelve months			(368.0)
Continuing operations \| General business and foreign tax credit
Tax credit carryforwards			199.0
Tax credit carryforward, valuation allowance			$ 67.0

Income Taxes (Earnings From Continuing Operations Before Income Taxes) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Earnings from continuing operations before income taxes	$ 3,305.3	$ 2,961.9	$ 2,543.2
United States
Earnings from continuing operations before income taxes	854.1	801.3	760.2
International
Earnings from continuing operations before income taxes	$ 2,451.2	$ 2,160.6	$ 1,783.0

Income Taxes (Provision For Income Taxes From Continuing Operations) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Expense (Benefit), Continuing Operations, by Jurisdiction [Abstract]
Federal U.S., current	$ 453.7	$ 283.0	$ 395.7
Non-U.S., current	799.9	460.4	418.1
State and local, current	34.6	64.4	(14.3)
Federal U.S., deferred	(297.1)	(200.6)	(400.5)
Non-U.S., deferred	(127.7)	(12.3)	(84.8)
State and local, deferred	9.6	(39.3)	56.8
Income tax provision	$ 873.0	$ 555.6	$ 371.0

Income Taxes (Deferred Income Tax Assets And Liabilities) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Deferred tax assets:
Allowance for doubtful accounts	$ 19.1	$ 19.7
Inventories	73.3	81.2
Pension and postretirement benefits	231.3	222.7
Environmental and regulatory compliance	22.1	22.4
Other accruals and prepayments	194.6	223.7
Stock-based compensation expense	68.5	64.7
Operating lease liabilities	193.7	0.0
Tax credit and loss carryforwards	703.4	894.5
Valuation allowances	(261.2)	(389.6)
Total deferred tax asset	1,244.8	1,139.3
Deferred tax liabilities:
Property, plant and equipment	(113.5)	(90.0)
Insurance, including self-insurance	(272.3)	(564.0)
Basis difference in LYONs	(13.8)	(21.6)
Operating lease ROU assets	(185.7)	0.0
Goodwill and other intangibles	(2,311.7)	(2,774.9)
Total deferred tax liability	(2,897.0)	(3,450.5)
Net deferred tax liability	$ (1,652.2)	$ (2,311.2)

Income Taxes (Reconciliation Of The Statutory Federal Income Tax Rate To The Effective Tax Rate) (Details)		12 Months Ended
	Dec. 31, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Statutory federal income tax rate	21.00%	21.00%	21.00%	35.00%
Effective Income Tax Rate Reconciliation, Percent [Abstract]
State income taxes (net of federal income tax benefit)		0.80%	0.90%	0.80%
Foreign rate differential		(1.40%)	(0.90%)	(12.70%)
Resolution and expiration of statutes of limitation of uncertain tax positions		(2.10%)	(1.70%)	(7.20%)
Permanent foreign exchange losses		0.00%	0.00%	(0.80%)
Research credits, uncertain tax positions and other		8.10%	(0.70%)	(0.50%)
TCJA - revaluation of U.S. deferred income taxes		0.00%	(1.60%)	(47.90%)
TCJA - Transition Tax		0.00%	1.80%	47.90%
Effective income tax rate		26.40%	18.80%	14.60%

Income Taxes (Reconciliation Of Unrecognized Tax Benefits) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized tax benefits, beginning of year	$ 986.0	$ 736.8	$ 992.2
Additions based on tax positions related to the current year	71.0	43.1	53.0
Additions for tax positions of prior years	197.3	324.3	39.8
Reductions for tax positions of prior years	(15.8)	(21.9)	(14.5)
Acquisitions, divestitures and other	6.8	9.4	13.4
Lapse of statute of limitations	(51.5)	(52.9)	(246.7)
Settlements	(12.2)	(41.8)	(124.8)
Effect of foreign currency translation	(0.7)	(11.0)	24.4
Unrecognized tax benefits, end of year	$ 1,180.9	$ 986.0	$ 736.8

Nonoperating Income (Expense) (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions		3 Months Ended	12 Months Ended
	Oct. 24, 2019	Dec. 31, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Other nonoperating income, net pension and postretirement benefits			$ 12.0	$ 35.0	$ 31.0
Payments of debt extinguishment costs	$ 7.0		6.5	0.0	0.0
Payments of debt extinguishment costs, after-tax	$ 5.0
Payments of debt extinguishment costs, per diluted share	$ 0.01
Proceeds from sales of investments			$ 0.0	22.2	137.9
Receivable from sale of marketable securities					22.0
Marketable securities, realized gain					73.0
Marketable securities, after tax realized gain					$ 46.0
Marketable securities, after-tax gain, per diluted share					$ 0.06
Senior notes \| Redeemed notes
Repayments of debt		$ 882.0
Senior notes \| 2.4% senior unsecured notes due 2020
Repayments of debt	$ 500.0
Interest rate of debt instrument	2.40%	2.40%	2.40%
Senior notes \| 5.0% senior unsecured notes due 2020
Repayments of debt	$ 375.0
Interest rate of debt instrument	5.00%
Pension benefit plans \| Non-U.S. plan
Settlement loss			$ (7.0)	$ 3.6
Settlement loss, net of tax			$ (6.0)
Settlement loss, per diluted share			$ (0.01)

Commitments Commitments (Narrative) (Details) $ in Millions	12 Months Ended
Commitments Commitments (Narrative) (Details) $ in Millions	Dec. 31, 2019 USD ($)
Product Warranty Liability [Line Items]
Purchase obligations	$ 594
Maximum
Product Warranty Liability [Line Items]
Product warranty period	10 years

Commitments (Warranty Accrual) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Balance at beginning of year	$ 67.7	$ 68.2
Accruals for warranties issued during the year	48.7	46.0
Settlements made	(43.0)	(44.6)
Effect of foreign currency translation	(0.1)	(1.9)
Balance at end of year	$ 73.3	$ 67.7

Litigation And Contingencies (Narrative) (Details) $ in Millions	Dec. 31, 2019 USD ($)
Loss Contingency [Abstract]
Reserve for environmental matters	$ 126
Reserve for environmental matters, noncurrent	89
Guarantees	$ 576

Stock Transactions And Stock-Based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions				12 Months Ended
	Dec. 31, 2019	Dec. 18, 2019	Mar. 01, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Apr. 15, 2022	Jul. 16, 2013
Repurchase of common stock authorized, shares								20,000,000
Stock repurchase program, remaining number of shares authorized to be repurchased, shares	20,000,000			20,000,000
Proceeds from the public offering of common stock, net of issuance costs				$ 1,443.2	$ 0.0	$ 0.0
Preferred stock, shares issued	1,650,000			1,650,000	0
Preferred stock, dividend rate, percentage	4.75%
Proceeds from the public offering of preferred stock, net of issuance costs				$ 1,599.6	$ 0.0	0.0
Total number of authorized shares to be issued under the 2007 Omnibus Incentive Plan, shares	127,000,000			127,000,000
Common shares reserved for issuance under the 2007 Omnibus Incentive Plan, shares	60,000,000			60,000,000
Aggregate intrinsic value of options exercised				$ 266.0	202.0	162.0
Cash receipts due to exercise of options				179.0	133.0	117.0
Employee service share-based compensation, tax benefit from exercise of stock options				79.0	57.0	85.0
Tax benefit				$ 55.0	$ 38.0	55.0
Aggregate number of shares withheld to satisfy tax requirement				402,000	400,000
Aggregate value of shares withheld to satisfy tax requirement				$ 49.0	$ 41.0
RSUs/PSUs
Vesting period of shares (in years)				5 years
Total unrecognized compensation cost	$ 149.0			$ 149.0
Weighted average period for cost to be recognized (in years)				2 years
Employee service share-based compensation, tax benefit from exercise of stock options				$ 25.0	17.0	35.0
PSUs
Vesting period of shares (in years)				3 years
Additional holding period (in years)				2 years
Stock options
Vesting period of shares (in years)				5 years
Stock option term (in years)				10 years
Total unrecognized compensation cost	$ 147.0			$ 147.0
Weighted average period for cost to be recognized (in years)				3 years
Employee service share-based compensation, tax benefit from exercise of stock options				$ 51.0	$ 40.0	$ 50.0
Common stock
Issuance of stock			12,100,000	12,100,000	0	0
Shares issued, price per share			$ 123.00
Proceeds from the public offering of common stock, net of issuance costs			$ 1,400.0
Payments of stock issuance costs			45.0
Preferred stock
Issuance of stock				1,700,000	0	0
Payments of stock issuance costs			$ 50.0
Preferred stock, shares issued			1,650,000
Preferred stock, dividend rate, percentage			4.75%
Preferred stock, liquidation preference per share			$ 1,000
Proceeds from the public offering of preferred stock, net of issuance costs			$ 1,600.0
Threshold consecutive trading days			20
Preferred stock, dividend rate, per-dollar-amount			$ 47.50
Preferred stock \| Minimum \| Scenario, forecast
Convertible preferred stock, shares issued upon conversion							6.6531
Preferred stock \| Maximum \| Scenario, forecast
Convertible preferred stock, shares issued upon conversion							8.1500
Envista \| Envista Split-Off
Shares repurchased		22,900,000

Stock Transactions And Stock-Based Compensation Stock Transactions And Stock-Based Compensation (Summary of Share Activity) (Details) - shares shares in Millions		12 Months Ended
	Mar. 01, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Preferred stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning of period		0.0	0.0	0.0
Issuance of stock		1.7	0.0	0.0
Balance, end of period		1.7	0.0	0.0
Common stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning of period		817.9	812.5	807.7
Common stock-based award activity		4.6	4.6	4.8
Common stock issued in connection with acquisitions		0.0	0.2	0.0
Common stock issued in connection with LYONs’ conversions		0.9	0.6	0.0
Issuance of stock	12.1	12.1	0.0	0.0
Balance, end of period		835.5	817.9	812.5

Stock Transactions And Stock-Based Compensation (Assumptions Used In The Black-Scholes Model To Value Options Granted) (Details)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average volatility	20.40%	21.40%	17.90%
Dividend yield	0.50%	0.60%	0.70%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	1.70%	2.60%	1.80%
Expected years until exercise	5 years	5 years	5 years
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	2.60%	3.10%	2.20%
Expected years until exercise	8 years	8 years	8 years

Stock Transactions And Stock-Based Compensation (Components Of Share-Based Compensation Program) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Pretax compensation expense	$ 158.8	$ 138.1	$ 127.1
Income tax benefit	(32.9)	(28.4)	(39.2)
Total stock-based compensation expense, net of income taxes	125.9	109.7	87.9
RSUs/PSUs
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Pretax compensation expense	97.3	86.5	82.6
Income tax benefit	(20.1)	(17.7)	(25.2)
Total stock-based compensation expense, net of income taxes	77.2	68.8	57.4
Stock options
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Pretax compensation expense	61.5	51.6	44.5
Income tax benefit	(12.8)	(10.7)	(14.0)
Total stock-based compensation expense, net of income taxes	$ 48.7	$ 40.9	$ 30.5

Stock Transactions And Stock-Based Compensation (Option Activity Under The Company's Stock Plans) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Options, Outstanding [Roll Forward]
Outstanding at beginning of year, options	18.6	18.8	18.9
Granted, options	4.3	4.1	4.4
Exercised, options	(3.5)	(3.4)	(3.3)
Cancelled/forfeited, options	(0.9)	(0.9)	(1.2)
Adjustment due to Envista Split-Off	(1.5)
Outstanding at end of year, options	17.0	18.6	18.8
Weighted Average Exercise Price, Outstanding [Roll Forward]
Outstanding as of beginning of year, weighted average exercise price	$ 70.86	$ 59.84	$ 50.07
Granted, weighted average exercise price	117.32	99.51	86.14
Exercised, weighted average exercise price	53.02	41.88	35.26
Cancelled/forfeited, weighted average exercise price	98.98	80.14	70.40
Adjustment due to Envista Split-Off, weighted average exercise price	91.65
Outstanding as of end of year, weighted average exercise price	$ 82.95	$ 70.86	$ 59.84
Vested and expected to vest at end of year, options	16.5
Vested at end of year, options	7.0
Vested and expected to vest at end of year, weighted average exercise price	$ 82.18
Vested at end of year, weighted average exercise price	$ 62.53
Outstanding at end of year, weighted average remaining contractual term (in years)	7 years
Vested and expected to vest at end of year, weighted average remaining contractual term (in years)	7 years
Vested at end of year, weighted average remaining contractual term (in years)	5 years
Outstanding at end of year, aggregate intrinsic value	$ 1,202.3
Vested and expected to vest at end of year, aggregate intrinsic value	1,176.3
Vested at end of year, aggregate intrinsic value	$ 632.3

Stock Transactions And Stock-Based Compensation (Summary Of Options Outstanding) (Details) shares in Millions	12 Months Ended
	Dec. 31, 2019 $ / shares shares
$19.89 to $41.64
Options, exercise price, lower range limit	$ 19.89
Options, exercise price, upper range limit	$ 41.64
Outstanding, shares (in millions) \| shares	1.2
Outstanding, average exercise price	$ 36.79
Outstanding, average remaining life (in years)	2 years
Exercisable, shares (in millions) \| shares	1.2
Exercisable, average exercise price	$ 36.79
$41.65 to $62.18
Options, exercise price, lower range limit	41.65
Options, exercise price, upper range limit	$ 62.18
Outstanding, shares (in millions) \| shares	2.2
Outstanding, average exercise price	$ 54.47
Outstanding, average remaining life (in years)	4 years
Exercisable, shares (in millions) \| shares	2.2
Exercisable, average exercise price	$ 54.51
$62.19 to $83.27
Options, exercise price, lower range limit	62.19
Options, exercise price, upper range limit	$ 83.27
Outstanding, shares (in millions) \| shares	4.0
Outstanding, average exercise price	$ 67.03
Outstanding, average remaining life (in years)	6 years
Exercisable, shares (in millions) \| shares	2.2
Exercisable, average exercise price	$ 67.12
$83.28 to $101.64
Options, exercise price, lower range limit	83.28
Options, exercise price, upper range limit	$ 101.64
Outstanding, shares (in millions) \| shares	5.8
Outstanding, average exercise price	$ 92.70
Outstanding, average remaining life (in years)	8 years
Exercisable, shares (in millions) \| shares	1.3
Exercisable, average exercise price	$ 90.74
$101.65 to $142.99
Options, exercise price, lower range limit	101.65
Options, exercise price, upper range limit	$ 142.99
Outstanding, shares (in millions) \| shares	3.8
Outstanding, average exercise price	$ 116.76
Outstanding, average remaining life (in years)	9 years
Exercisable, shares (in millions) \| shares	0.1
Exercisable, average exercise price	$ 113.57

Stock Transactions And Stock-Based Compensation (Summary Of Unvested RSU And PSU Activity) (Details) - $ / shares shares in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Adjustment due to Envista Split-Off, number of RSUs/PSUs	(0.4)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Adjustment due to Envista Split-Off, weighted average grant-date fair value	$ 98.18
RSUs/PSUs
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Unvested at beginning of year, number of RSUs/PSUs	3.9	3.9	4.5
Granted, number of RSUs/PSUs	1.4	1.5	1.4
Vested, number of RSUs/PSUs	(1.1)	(1.2)	(1.5)
Forfeited, number of RSUs/PSUs	(0.3)	(0.3)	(0.5)
Unvested at end of year, number of RSUs/PSUs	3.5	3.9	3.9
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Unvested at beginning of year, weighted average grant-date fair value	$ 82.21	$ 71.27	$ 62.16
Granted, weighted average grant-date fair value	115.38	99.15	86.04
Vested, weighted average grant-date fair value	75.51	68.37	58.48
Forfeited, weighted average grant-date fair value	92.82	78.41	68.83
Unvested at end of year, weighted average grant-date fair value	$ 94.85	$ 82.21	$ 71.27

Net Earnings Per Share From Continuing Operations (Narrative) (Details) - shares shares in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	0	1	4
Preferred stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	10

Net Earnings Per Share From Continuing Operations (Components Of Basic And Diluted Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 27, 2019	Jun. 28, 2019	Mar. 29, 2019	Dec. 31, 2018	Sep. 28, 2018	Jun. 29, 2018	Mar. 30, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Numerator:
Net earnings from continuing operations	$ 792.9	$ 630.7	$ 676.4	$ 332.3	$ 683.8	$ 600.3	$ 592.8	$ 529.4	$ 2,432.3	$ 2,406.3	$ 2,172.2
MCPS dividends									(68.4)	0.0	0.0
Net earnings from continuing operations attributable to common stockholders for Basic EPS									2,363.9	2,406.3	2,172.2
Adjustment for interest on convertible debentures									1.6	2.2	2.1
Net earnings from continuing operations attributable to common stockholders after assumed conversions for Diluted EPS									$ 2,365.5	$ 2,408.5	$ 2,174.3
Denominator:
Weighted average common shares outstanding used in Basic EPS									715.0	700.6	695.8
Assumed exercise of dilutive options and vesting of dilutive RSUs and PSUs									8.9	7.2	7.5
Assumed conversion of the convertible debentures									1.6	2.4	2.8
Weighted average common shares outstanding used in Diluted EPS									725.5	710.2	706.1
Net earnings per share from continuing operations, basic	$ 1.08	$ 0.85	$ 0.91	$ 0.46	$ 0.97	$ 0.86	$ 0.85	$ 0.76	$ 3.31	$ 3.43	$ 3.12
Net earnings per share from continuing operations, diluted	$ 1.07	$ 0.84	$ 0.90	$ 0.45	$ 0.96	$ 0.85	$ 0.84	$ 0.75	$ 3.26	$ 3.39	$ 3.08

Segment Information (Narrative) (Details)	12 Months Ended
Segment Information (Narrative) (Details)	Dec. 31, 2019 Business
Segment Reporting [Abstract]
Number of segments	3

Segment Information (Segment Results) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 27, 2019	Jun. 28, 2019	Mar. 29, 2019	Dec. 31, 2018	Sep. 28, 2018	Jun. 29, 2018	Mar. 30, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting Information [Line Items]
Sales	$ 4,868.4	$ 4,378.0	$ 4,444.5	$ 4,220.2	$ 4,604.5	$ 4,173.6	$ 4,247.6	$ 4,022.8	$ 17,911.1	$ 17,048.5	$ 15,518.8
Operating profit	961.7	$ 776.3	$ 811.7	$ 719.7	863.4	$ 745.3	$ 758.9	$ 687.5	3,269.4	3,055.1	2,572.3
Identifiable assets	62,081.6				47,832.5				62,081.6	47,832.5	46,648.6
Depreciation and amortization									1,189.5	1,177.7	1,116.9
Capital expenditures, gross									635.5	583.5	570.7
Discontinued operations
Segment Reporting Information [Line Items]
Identifiable assets	0.0				5,841.6				0.0	5,841.6	5,993.8
Operating segments \| Life Sciences
Segment Reporting Information [Line Items]
Sales									6,951.1	6,471.4	5,710.1
Operating profit									1,401.4	1,229.3	1,004.3
Depreciation and amortization									487.1	471.2	427.9
Capital expenditures, gross									142.4	140.1	130.6
Operating segments \| Life Sciences \| Continuing operations
Segment Reporting Information [Line Items]
Identifiable assets	22,381.3				22,122.4				22,381.3	22,122.4	20,576.8
Operating segments \| Diagnostics
Segment Reporting Information [Line Items]
Sales									6,561.5	6,257.6	5,839.9
Operating profit									1,134.1	1,073.8	871.6
Depreciation and amortization									582.5	589.0	581.5
Capital expenditures, gross									434.4	380.0	372.6
Operating segments \| Diagnostics \| Continuing operations
Segment Reporting Information [Line Items]
Identifiable assets	14,442.2				14,031.1				14,442.2	14,031.1	14,359.2
Operating segments \| Environmental & Applied Solutions
Segment Reporting Information [Line Items]
Sales									4,398.5	4,319.5	3,968.8
Operating profit									1,051.6	988.0	914.6
Depreciation and amortization									110.6	109.0	99.9
Capital expenditures, gross									54.4	57.1	60.9
Operating segments \| Environmental & Applied Solutions \| Continuing operations
Segment Reporting Information [Line Items]
Identifiable assets	4,881.8				4,637.3				4,881.8	4,637.3	4,649.2
Other
Segment Reporting Information [Line Items]
Operating profit									(317.7)	(236.0)	(218.2)
Depreciation and amortization									9.3	8.5	7.6
Capital expenditures, gross									4.3	6.3	6.6
Other \| Continuing operations
Segment Reporting Information [Line Items]
Identifiable assets	$ 20,376.3				$ 1,200.1				$ 20,376.3	$ 1,200.1	$ 1,069.6

Segment Information (Schedule Of Operations In Geographical Areas) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 27, 2019	Jun. 28, 2019	Mar. 29, 2019	Dec. 31, 2018	Sep. 28, 2018	Jun. 29, 2018	Mar. 30, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Revenues from External Customers and Long-Lived Assets [Line Items]
Sales	$ 4,868.4	$ 4,378.0	$ 4,444.5	$ 4,220.2	$ 4,604.5	$ 4,173.6	$ 4,247.6	$ 4,022.8	$ 17,911.1	$ 17,048.5	$ 15,518.8
Property, plant and equipment, net	2,302.0				2,249.6				2,302.0	2,249.6	2,223.4
Reportable geographical components \| United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Sales									6,659.7	6,133.9	5,584.9
Property, plant and equipment, net	1,076.8				1,080.3				1,076.8	1,080.3	1,008.2
Reportable geographical components \| China
Revenues from External Customers and Long-Lived Assets [Line Items]
Sales									2,307.9	2,169.4	1,856.4
Reportable geographical components \| Germany
Revenues from External Customers and Long-Lived Assets [Line Items]
Sales									1,013.0	1,082.3	995.5
Property, plant and equipment, net	162.7				169.2				162.7	169.2	180.9
Reportable geographical components \| United Kingdom
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	163.1				156.9				163.1	156.9	151.8
Reportable geographical components \| All other (each country individually less than 5% of total)
Revenues from External Customers and Long-Lived Assets [Line Items]
Sales									7,930.5	7,662.9	7,082.0
Property, plant and equipment, net	$ 899.4				$ 843.2				$ 899.4	$ 843.2	$ 882.5
Geographic concentration risk \| Reportable geographical components \| Total sales
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk percentage									5.00%	5.00%	5.00%
Geographic concentration risk \| Reportable geographical components \| Total property, plant and equipment
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk percentage									5.00%	5.00%	5.00%

Segment Information (Sales By Major Product Group) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 27, 2019	Jun. 28, 2019	Mar. 29, 2019	Dec. 31, 2018	Sep. 28, 2018	Jun. 29, 2018	Mar. 30, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Sales	$ 4,868.4	$ 4,378.0	$ 4,444.5	$ 4,220.2	$ 4,604.5	$ 4,173.6	$ 4,247.6	$ 4,022.8	$ 17,911.1	$ 17,048.5	$ 15,518.8
Analytical and physical instrumentation
Sales									2,463.8	2,437.0	2,232.9
Research and medical products
Sales									13,512.6	12,686.0	11,512.4
Product Identification
Sales									$ 1,934.7	$ 1,925.5	$ 1,773.5

Quarterly Data-Unaudited (Schedule Of Quarterly Data) (Details) - USD ($)
$ / shares in Units, $ in Millions

3 Months Ended

12 Months Ended

Dec. 31, 2019

Sep. 27, 2019

Jun. 28, 2019

Mar. 29, 2019

Dec. 31, 2018

Sep. 28, 2018

Jun. 29, 2018

Mar. 30, 2018

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Quarterly Financial Information Disclosure [Abstract]

Sales

$ 4,868.4

$ 4,378.0

$ 4,444.5

$ 4,220.2

$ 4,604.5

$ 4,173.6

$ 4,247.6

$ 4,022.8

$ 17,911.1

$ 17,048.5

$ 15,518.8

Gross profit

2,703.6

2,441.4

2,483.8

2,354.9

2,533.7

2,309.6

2,393.9

2,268.1

9,983.7

9,505.3

8,571.3

Operating profit

961.7

776.3

811.7

719.7

863.4

745.3

758.9

687.5

3,269.4

3,055.1

2,572.3

Net earnings from continuing operations

792.9

630.7

676.4

332.3

683.8

600.3

592.8

529.4

2,432.3

2,406.3

2,172.2

Earnings from discontinued operations, net of income taxes

482.2

37.3

54.9

1.5

63.0

63.4

81.0

37.2

575.9

244.6

319.9

Net earnings attributable to common stockholders

$ 1,255.5

$ 648.4

$ 708.6

$ 327.3

$ 746.8

$ 663.7

$ 673.8

$ 566.6

$ 2,939.8

$ 2,650.9

$ 2,492.1

Net earnings per share:

Net earnings per share from continuing operations, basic

$ 1.08

$ 0.85

$ 0.91

$ 0.46

$ 0.97

$ 0.86

$ 0.85

$ 0.76

$ 3.31

$ 3.43

$ 3.12

Net earnings per share from continuing operations, diluted

1.07

0.84

0.90

0.45

0.96

0.85

0.84

0.75

3.26

3.39

3.08

Net earnings per share from discontinued operations, basic

0.67

0.05

0.08

0.09

0.12

0.05

0.81

0.35

0.46

Net earnings per share from discontinued operations, diluted

0.66

0.05

0.08

0.09

0.11

0.05

0.79

0.34

0.45

Net earnings per share, basic

1.75

0.90

0.99

0.46

1.06

0.95

0.96

0.81

4.11

^[1]

3.78

3.58

Net earnings per share, diluted

$ 1.73

$ 0.89

$ 0.97

$ 0.46

$ 1.05

$ 0.93

$ 0.95

$ 0.80

$ 4.05

$ 3.74

^[1]

$ 3.53

[1]

Schedule II - Valuation And Qualifying Accounts (Details) - Allowance for doubtful accounts - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	$ 103.7	$ 100.3	$ 85.6
Charged to costs & expenses	30.0	31.2	27.1
Impact of currency	(0.7)	(3.8)	3.8
Charged to other accounts	0.0	1.3	3.5
Write-offs, write-downs & deductions	(27.6)	(25.3)	(19.7)
Balance at end of period	$ 105.4	$ 103.7	$ 100.3