PDF WASHINGTON, D.C. 20549 FORM 10-K - General Electric Revenues for the full year 2021 increased 32.0% to $29.5 billion, with 25.0% non-GAAP core revenue growth including Cytiva. Cytiva - Crunchbase Company Profile & Funding Impairment charges related to a facility in the Diagnostics segment and trade names and other intangibles assets in the Environmental & Applied Solutions segment recorded in the year ended December 31, 2020, ($22 million pretax as reported in this line item, $17 million after-tax). Note: Danaher calculates period-to-period core sales growth including Cytiva by adding Cytiva sales to core sales for both the baseline and current periods. Cytiva is bringing our long-standing expertise to the forefront of science, to fuel research, discovery, and development with technologies, instruments, and software. ET start and telling the operator that you are dialing in for Danaher's earnings conference call (access code 7971317). This information is presented for reference only. For more information, please visit www.danaher.com. Amortization of acquisition-related intangible assets in the following historical periods ($ in millions) (only the pretax amounts set forth below are reflected in the amortization line item above): Pretax costs incurred for fair value adjustments to inventory and deferred revenue related to the acquisition of Cytiva in the three-month period ended December 31, 2020, ($49 million pretax as reported in this line item, $39 million after-tax) and fair value adjustments to inventory and deferred revenue, transaction costs deemed significant and integration preparation costs related to the acquisition of Cytiva for the year ended December 31, 2020, ($568 million pretax as reported in this line item, $450 million after-tax). Danaher Reports Fourth Quarter And Full Year 2021 Results For the first quarter 2021 the Company anticipates that non-GAAP core revenue growth including Cytiva will be in the mid to high-teens range. While we expect overall demand for the Company's COVID-19 related products to moderate as and to the extent the pandemic subsides, as the pandemic evolves toward endemic status we believe a level of demand for the Company's products that support COVID-19 related vaccines and therapeutics (including initiatives that seek to prevent or mitigate similar, future pandemics) and COVID-19 testing will continue. A replay of the webcast will be available in the same section of Danaher's website shortly after the conclusion of the presentation and will remain available until the next quarterly earnings call. We were particularly pleased with the performance in our base business, which grew low-double digits, and believe we gained market share across our portfolio. Training for Innovative Behavior 2020 Publication: IBAM Training for Innovative behavior 2020 Publication . Rainer M. Blair, President and Chief Executive Officer, stated, "For the full year 2020, we achieved nearly 10% core revenue growth including Cytiva, strong margin expansion, and more than $5 billion of free cash flow. Description. factors during the year and double-digit growth in Protein A ligands. Costs incurred for fair value adjustments to inventory and deferred revenue related to the acquisition of Cytiva in the three-month period ended December 31, 2020, ($49 million pretax as reported in this line item, $39 million after-tax) and fair value adjustments to inventory and deferred revenue, transaction costs deemed significant and integration preparation costs related to the acquisition of Cytiva for the year ended December 31, 2020, ($568 million pretax as reported in this line item, $450 million after-tax). Comparable 2020 Period, % Change Year Ended December 31, 2021 vs. The conference call can be accessed by dialing 866-503-8675 within the U.S. or by dialing +1 786-815-8792 outside the U.S. a few minutes before the 8:00 a.m. cytiva annual report 2020papa smurf tattoo. As we move into 2020, we are prepared for Cytiva (formerly GE Healthcare Life Sciences) to transition a portion of their demand to in-house manufacturing. RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES, Adjusted Diluted Net Earnings Per Common Share from Continuing Operations1, Diluted Net Earnings Per Common Share from Continuing Operations (GAAP), Pretax amortization of acquisition-related intangible assets A, Pretax acquisition-related fair value adjustments to inventory and deferred revenue, incremental transaction costs deemed significant and integration preparation costs, in each case related to the acquisition of Cytiva B, Loss on partial settlement of a defined benefit plan D, Pretax impairment charges related to a facility in the Diagnostics segment in the first quarter of 2020, trade name and other intangible assets in the Environmental & Applied Solutions segment in the first quarter of 2020 and trade names in the Environmental & Applied Solutions segment in the third of quarter 2020 E, Pretax fair value (gains) and losses on the Company's equity and limited partnership investments F, Gain on the sale of certain product lines in the Life Sciences segment in the second quarter of 2020 G, Tax effect of all adjustments reflected above H, Discrete tax adjustments and other tax-related adjustments I, Declared dividends on the MCPS assuming "if-converted" method J, Adjusted Diluted Net Earnings Per Common Share from Continuing Operations (Non-GAAP). Management uses these non-GAAP measures to measure the Company's operating and financial performance, and uses core sales and non-GAAP measures similar to adjusted diluted net earnings per common share and free cash flow in the Company's executive compensation program. The Company anticipates excess tax benefits from stock compensation of approximately $7 million per quarter and therefore excludes benefits in excess of this amount in the calculation of adjusted diluted net earnings from continuing operations per common share. For the calculation of net earnings per common share from continuing operations, the impact of the dilutive MCPS is calculated under the if-converted method and the related MCPS dividends are excluded. Free Cash Flow from Continuing Operations. Adjusted net income of 391 million in 2020, representing 5.11 per share High free cash flow for the year at 651 million, comparable to the level achieved in 2019, reflecting excellent management of working capital (11.8% of sales at 31 December 2020) and strict control of capital expenditure We exclude the amortization of acquisition-related intangible assets because the amount and timing of such charges are significantly impacted by the timing, size, number and nature of the acquisitions we consummate. Annual and sustainability report 2022 Leading the way to fossil freedom. Calculations of these measures, the reasons why we believe these measures provide useful information to investors, a reconciliation of these measures to the most directly comparable GAAP measures, as applicable, and other information relating to these non-GAAP measures are included in the supplemental reconciliation schedule attached. Revenues for the full year 2020 increased 24.5% to $22.3 billion, with 9.5% non-GAAP core revenue growth including Cytiva. General Electric Company (General Electric, GE or the Company) is a high-tech industrial The international bio-tech company Cytiva has won $5 million in combined state and local incentives for a major expansion in Logan, but the 396 new jobs the company is expected to create come as the Logan metro area is experiencing the lowest unemployment rate in the country. The Company anticipates excess tax benefits from stock compensation of approximately $7 million per quarter and therefore excludes benefits in excess of this amount in the calculation of adjusted diluted net earnings per common share from continuing operations. Cytiva Company Profile: Acquisition & Investors | PitchBook Statements in this release that are not strictly historical, including the statements regarding the Company's expected financial performance for the first quarter and full year 2022, the Company's positioning and prospects for the future and any other statements regarding events or developments that we believe or anticipate will or may occur in the future are "forward-looking" statements within the meaning of the federal securities laws. This information is presented for reference only. Non-GAAP adjusted diluted net earnings per common share for the fourth quarter 2020 were $2.08 which represents a 62.5% increase over the comparable 2019 period. The discrete tax matters for the three-month period and year ended December 31, 2019 relate primarily to changes in estimates associated with prior period uncertain tax positions and audit settlements, net of the release of valuation allowances associated with certain foreign tax credits and tax benefits resulting from a change in law. With respect to core sales and core sales including Cytiva, (1) we exclude the impact of currency translation because it is not under management's control, is subject to volatility and can obscure underlying business trends, and (2) we exclude the effect of acquisitions (other than Cytiva, in the case of core sales including Cytiva) and divested product lines because the timing, size, number and nature of such transactions can vary significantly from period-to-period and between us and our peers, which we believe may obscure underlying business trends and make comparisons of long-term performance difficult. Operating cash flow for the full year 2020 was $6.2 billion, representing a 70.0% increase year-over-year, and non-GAAP free cash flow was $5.4 billion, representing a 79.0% increase year-over-year. Loss on early extinguishment of debt resulting from "make-whole" payments associated with the retirement of the 2022 Euronotes ($26 million pretax as reported in this line item, $20 million after-tax) in both the three-month period and year ended December 31, 2020 and the 2020 U.S. Notes and the 2020 Assumed Pall Notes ($7 million pretax as reported in this line item, $5 million after-tax) in both the three-month period and year ended December 31, 2019. The 1.5 billion USD investment follows Cytiva's announcement in 2020 to spend 500 million USD building capacity. Headquartered in Marlborough, Massachusetts, and formerly part of GE Healthcare Life Sciences, Cytiva is a global provider of medical application technologies and services that advance and accelerate the development of therapeutics. Report incorrect company information. For the full year 2020, net earnings were $3.6 billion, or $4.89 per diluted common share which represents a 50.0% year-over-year increase. Cytiva is bringing our long-standing expertise to the . Financial information - Merck.com BioPlan Associates, Inc. 2020. School closures, increased vulnerability to abuse, mental health strains and loss of access to vital services have hurt children deeply. Type: Company - Private. With respect to core sales related measures, (1) we exclude the impact of currency translation because it is not under management's control, is subject to volatility and can obscure underlying business trends, and (2) we exclude the effect of acquisitions (other than Cytiva, in the case of core sales including Cytiva and base business core sales) and divested product lines because the timing, size, number and nature of such transactions can vary significantly from period-to-period and between us and our peers, which we believe may obscure underlying business trends and make comparisons of long-term performance difficult.