Delaware
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04-2209186
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(State of incorporation or organization)
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(I.R.S. Employer Identification No.)
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168 Third Avenue
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Waltham, Massachusetts
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02451
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(Address of principal executive offices)
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(Zip Code)
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Title of each class
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Name of each exchange on which registered
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Title of each class
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Name of each exchange on which registered
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Common Stock, $1.00 par value
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New York Stock Exchange
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0.750% Notes due 2024
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New York Stock Exchange
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Floating Rate Notes due 2018
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New York Stock Exchange
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2.000% Notes due 2025
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New York Stock Exchange
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1.500% Notes due 2020
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New York Stock Exchange
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1.375% Notes due 2028
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New York Stock Exchange
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2.150% Notes due 2022
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New York Stock Exchange
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TABLE OF CONTENTS
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Page
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PART I
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Item 1.
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Item 1A.
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Item 1B.
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Item 2.
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Item 3.
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Item 4.
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PART II
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Item 5.
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Item 6.
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Item 7.
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Item 7A.
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Item 8.
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Item 9.
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Item 9A.
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Item 9B.
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PART III
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Item 10.
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Item 11.
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Item 12.
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Item 13.
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Item 14.
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PART IV
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Item 15.
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Item 1.
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Business
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•
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The Thermo Scientific brand offers customers in research, diagnostics, industrial, and applied markets a complete range of high-end analytical instruments as well as laboratory equipment, software, services, consumables and reagents. Our portfolio of products includes innovative technologies for mass spectrometry, chromatography, elemental analysis, molecular spectroscopy, sample preparation, informatics, chemical research and analysis, cell culture, bioprocess production, cellular, protein and molecular biology research, allergy testing, drugs-of-abuse testing, therapeutic drug monitoring testing, microbiology, anatomical pathology, as well as environmental monitoring and process control.
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•
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The Applied Biosystems brand offers customers in research, clinical and applied markets integrated instrument systems, reagents, and software for genetic analysis. Our portfolio includes innovative technologies for genetic sequencing and real-time, digital and end point polymerase chain reaction (PCR), that are used to determine meaningful genetic information in applications such as cancer diagnostics, human identification testing, and animal health, as well as inherited and infectious disease.
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•
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The Invitrogen brand offers life science customers a broad range of consumables and instruments that accelerate research and ensure consistency of results. Our portfolio of products includes innovative solutions for cellular analysis and biology, flow cytometry, cell culture, protein expression, synthetic biology, molecular biology and protein biology.
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•
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Fisher Scientific is our channels brand, offering customers a complete portfolio of laboratory equipment, chemicals, supplies and services used in scientific research, healthcare, safety, and education markets. These products are offered through an extensive network of direct sales professionals, industry-specific catalogs, e-commerce capabilities and supply-chain management services. We also offer a range of biopharma services for clinical trials management and biospecimen storage.
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•
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Unity Lab Services is our services brand, offering a complete portfolio of services from enterprise level engagements to individual instruments and laboratory equipment, regardless of the original manufacturer. Through our network of world-class service and support personnel, we provide services that are designed to help our customers improve productivity, reduce costs, and drive decisions with better data.
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•
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Reagents, instruments, and consumables used for protein biology, molecular biology, and cell imaging and analysis. The portfolio includes antibodies and products for protein purification, detection, modification, and analysis; and sequencing, detection and purification products used for high content analysis of nucleic acids. Many of these products are also used in applied markets, including agriculture, forensics, diagnostics product development, and toxicology research.
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•
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Tools used for genetic engineering, amplification, quantification and analysis as well as RNA isolation, including stem cell reprogramming kits, transfection reagents, RNA interference reagents, along with gene editing tools and gene synthesis products.
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Cell culture media and reagents for preserving and growing mammalian cells which are used in many life science research applications.
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•
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Fluorescence-based technologies, which facilitate the labeling of molecules for biological research and drug discovery. These technologies include a wide range of cell analysis instruments, including flow cytometers and imaging platforms that enable fluorescence microscopy.
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•
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Protein analysis products, including pre-cast electrophoresis gels for separating nucleic acids and proteins, and western blotting and staining tools.
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•
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Single-use bioproduction solutions that provide our customers with faster turnaround and set-up times, minimal validation requirements, reduced investment and running costs, and increased flexibility of manufacturing capacity.
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•
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Production cell culture media solutions, which are used by leading biotechnology and pharmaceutical companies to grow cells in controlled conditions and enable large scale cGMP (Current Good Manufacturing Processes) manufacturing of drugs and vaccines. We also provide our customers with the associated services to optimize the productivity of these production platforms.
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•
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Chromatography products, which deliver unmatched capacity and resolution for process-scale bioseparations, and offer a broad set of scalable options for the purification of antibodies, antibody fragments and proteins.
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•
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Rapid molecular products that deliver accurate results in less than four hours for contaminant detection, identification and quantitation.
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•
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Scalable solutions for the manufacture of cell therapy based drugs.
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•
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Liquid Chromatography (LC) Systems
analyze complex sample matrices in liquids. Our high pressure liquid chromatography (HPLC) and ultrahigh pressure liquid chromatography (UHPLC) systems offer high throughput and sensitivity and are sold either as stand-alone systems or integrated with our mass spectrometers (LC/MS and LC/MS/
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•
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Ion Chromatography (IC) Systems
separate ionic (charged) or highly polar molecules (e.g., sugars and carbohydrates), usually found in water-based solutions, and typically detect them based on their electrical conductivity. Our IC products are used in a wide range of applications, including scientific research, and environmental testing, as well as quality control in pharmaceutical, food and beverage, and other industrial processes.
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•
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Gas Chromatography (GC) Systems
analyze complex sample matrices in gases, comprising both separation and detection technology. Separation technology is common to all gas chromatography analyzers, and is paired with either a conventional detector (GC) or with different types of mass spectrometers (GC/MS). Our GC/MS offering includes a triple stage quadrupole, a single stage quadrupole, an Orbitrap, and an ion trap, for a range of applications, including food safety testing, quantitative screening of environmental samples, and complex molecular analyses.
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•
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Elemental Analysis Spectrometers
use atomic spectroscopy techniques to identify trace concentrations of elements in liquid and solid samples primarily in environmental, petrochemical, food safety, metallurgical, geochemical and clinical/toxicology research applications. These products are widely used in growth markets such as China, India and Latin America to support compliance with increasingly stringent international environmental and consumer safety regulations.
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•
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Life Sciences Mass Spectrometers
include three major technologies: triple quadrupole, ion trap and Orbitrap technology. Our triple quadrupole systems provide high performance quantitative analysis of chemicals in biological fluids, environmental samples and food matrices. They are also used by the pharmaceutical industry for targeted quantitation during drug discovery. Our ion trap systems are used for in-depth structural analysis of large biomolecules, such as proteins, as well as structural characterization of small molecules, such as drugs and drug metabolites. Our Orbitrap technologies provide high resolution and accurate mass capabilities for both research and applied markets and are well suited for drug metabolism, proteomics, environmental analysis, food safety, toxicology and clinical research applications. We also offer a comprehensive portfolio of instrument control and data analysis software to help customers simplify their workflows and obtain knowledge from often complex data.
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•
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Inorganic Mass Spectrometers
include four product lines: isotope ratio mass spectrometry (IRMS); multi-collector mass spectrometry (MC/IRMS); inductively coupled plasma mass spectrometry (ICP/MS); and high resolution trace mass spectrometry (HR Trace/MS). These products are primarily used for qualitative and quantitative analysis of inorganic matter in a range of applications, including environmental analysis, materials science and earth sciences.
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•
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Materials and Minerals Instruments
include production line process monitoring, and control systems for a range of industrial applications. For example, we offer on line instruments that analyze bulk materials non-invasively and in real time to improve quality control and ensure safe operation in a mine or cement manufacturing plant, as well as systems that enable high-speed weighing during bulk materials handling. We also offer gauging systems that employ ionizing and non-ionizing technologies to measure the total thickness, basis weight and coating thickness of flat-sheet materials, such as steel, plastics, foil, rubber and glass. We also offer on line analyzers based on a variety of technologies such as X-ray imaging and ultra-trace chemical detection, to inspect packaged goods for physical contaminants, validate fill quantities, or check for missing or broken parts on line and at high speeds in the food and beverage, pharmaceutical production and packaging industries to maintain safety and quality standards.
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•
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Portable Analytical Instruments
are rugged handheld products that provide rapid, precise, real-time analysis at the point of need. Our two main product categories are elemental and optical analyzers. Our portable elemental analyzers use X-ray fluorescence (XRF) technology for identifying metal alloys in scrap metal recycling; QA/QC; precious metals analysis; environmental analysis; and lead screening in a range of consumer products. Our portable optical analyzers utilize Raman, Fourier transform infrared (FTIR) and near-infrared (NIR) technologies for use in the field by first responders, and law enforcement and military personnel who need to quickly and accurately identify chemicals and explosives in critical safety and security situations. Other applications include QA/QC in pharmaceutical production and identification of counterfeit drugs.
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•
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Radiation Measurement and Security Products
are used to monitor, detect and identify specific forms of radiation in nuclear power, environmental, industrial, medical, and security applications. Our primary customers include national, regional, and local government agencies responsible for monitoring cargo, vehicles and people traveling across borders. These products are also used by first-responders in safety and security situations, and for worker safety in the nuclear power and other industrial markets.
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•
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Environmental and Process Instruments
include fixed and portable instrumentation that help our customers protect people and the environment as well as comply with government regulations and industry safety standards. Our products are used by environmental regulatory agencies and power plant operators to measure ambient air, and stack gas emissions for compliance with regulated emissions standards for criteria pollutant gases. Our products are also used in ambient particulate monitoring applications by customers in mining environments to provide continuous measurements and logging of real-time concentrations and median particle sizes of airborne dust, smoke, mist and fumes to improve efficiency and increase worker safety.
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•
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Electron Microscopy Instruments
include transmission electron microscopes which provide imaging and characterization at the atomic scale, with applications in semiconductor development, materials science research and the characterization of protein structure and function. We also offer scanning electron microscopes which resolve features from the optical regime down to the nanometer length scale and are used for a wide variety of applications from materials characterization in science and engineering to applications in natural resources, manufacturing, and biological systems. Our dual beam focused ion beam-scanning electron microscope systems are used for sample preparation, 3D characterization, nanoprototyping, and industrial failure analysis. Our focused ion beam microscopes are used in a range of process control, failure analysis, and materials research applications. We also offer electrical failure analysis instruments which are used in root cause failure analysis and quality control, microCT instruments which are micro-computed tomography solutions for quantitative analysis of a broad range of materials, providing 3D visualization of large volumes non-destructively and 3D visualization software that turns the data and images generated by a broad range of instruments into 3D visualizations of the microscopic sample, allowing quantitative analysis of material properties.
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•
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Molecular Spectroscopy Instruments
are divided into four primary techniques: FTIR, Raman, NIR and ultraviolet/visible (UV/Vis) spectroscopy. These technologies are typically used in the laboratory to provide information on the structure of molecules to identify, verify and quantify organic materials in pharmaceutical, biotechnology, polymer, chemical, and forensic sciences. Our material characterization instruments include rheometers and extruders that measure viscosity, elasticity, processability, and temperature-related mechanical changes of various materials. We also provide a range of surface analysis instruments commonly used in the semiconductor, metals, coatings, and polymer industries as a product development and failure analysis tool.
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•
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Laboratory Elemental Analysis Instruments
and analyzers use XRF, X-ray diffraction (XRD), and arc spark optical emission (OES) techniques for accurate and precise analysis of bulk materials in the metals, cement, minerals, and petrochemicals industries.
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•
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Controlled Temperature Technologies Products
include our leading laboratory refrigerators and freezers, ultralow-temperature freezers and cryopreservation storage tanks for maintaining samples in a cold environment to protect them from degradation.
We also offer temperature control products such as heated bath circulators, immersion coolers, recirculating chillers, water baths, and dry baths in a range of sizes, temperatures and configurations for life science, analytical chemistry, manufacturing and quality-control applications.
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•
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Growth Protection and Separation Products
include sample preparation and preservation equipment which protects our customers’ chemical and biological samples and supports the growth of cells and organisms in optimal conditions such as temperature, carbon dioxide and humidity as well as incubators and related products. We also offer centrifugation products, which are used to separate biological matrices and inorganic materials, including microcentrifuges, general use bench-top centrifuges and floor models. Additionally, we offer biological safety cabinets, which enable technicians to handle samples without risk to themselves or their environment and without risk of cross-contamination of samples.
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•
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Water and Laboratory Products
include water analysis instruments such as meters, electrodes and solutions for the measurement of pH, ions, conductivity, dissolved oxygen, turbidity and other key parameters in the lab and production line. We also offer other laboratory equipment such as water purification systems, shakers, vacuum concentrators, microbiological incubators, ovens, furnaces, hotplates, stirrers, stirring hotplates, and other related products.
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•
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Laboratory and Specialty Plastics
include cell culture and bioproduction products which support customers in research to production-scale activities. We offer a broad range of surface technologies for different application needs,
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•
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Liquid Handling Consumables
include a leading offering of laboratory pipette tips and a complementary range of handheld and automated pipetting systems, supporting low- through high-throughput activity. These products optimize productivity and ergonomics, and ensure accurate results. We also offer
detection instruments such as microplate readers, washers and purification systems. These instruments offer researchers in the fields of cancer research, drug development, proteomics, and genomics efficiency, high-quality performance and accurate results.
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(In millions)
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2016
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2015
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Life Sciences Solutions
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$
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470.9
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$
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400.8
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Analytical Instruments
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1,701.2
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892.2
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Specialty Diagnostics
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171.1
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165.1
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Laboratory Products and Services
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473.0
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456.6
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Eliminations
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(23.2
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)
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(28.5
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)
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$
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2,793.0
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$
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1,886.2
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•
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technical performance and advances in technology that result in new products and improved price/performance ratios;
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•
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product differentiation, availability and reliability;
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•
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the depth of our capabilities;
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•
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our reputation among customers as a quality provider of products and services;
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customer service and support;
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•
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active research and application-development programs; and
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•
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relative prices of our products and services.
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Name
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Age
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Present Title (Fiscal Year First Became Executive Officer)
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Marc N. Casper
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48
|
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President and Chief Executive Officer (2001)
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Mark P. Stevenson
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54
|
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Executive Vice President (2014)
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Peter M. Wilver
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57
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Executive Vice President and Chief Administrative Officer (2003)
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Patrick M. Durbin
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50
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Senior Vice President (2015)
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Seth H. Hoogasian
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62
|
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Senior Vice President, General Counsel and Secretary (2001)
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Thomas W. Loewald
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53
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Senior Vice President and Chief Commercial Officer (2012)
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Daniel P. Shine
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48
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Senior Vice President (2016)
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Stephen Williamson
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50
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Senior Vice President and Chief Financial Officer (2015)
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Peter E. Hornstra
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57
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Vice President and Chief Accounting Officer (2001)
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Item 1A.
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Risk Factors
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•
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strengthening our presence in selected geographic markets;
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•
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allocating research and development funding to products with higher growth prospects;
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•
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developing new applications for our technologies;
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•
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expanding our service offerings;
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•
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continuing key customer initiatives;
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•
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combining sales and marketing operations in appropriate markets to compete more effectively;
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•
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finding new markets for our products; and
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•
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continuing the development of commercial tools and infrastructure to increase and support cross-selling opportunities of products and services to take advantage of our depth in product offerings.
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•
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reducing demand for some of our products;
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•
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increasing the rate of order cancellations or delays;
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•
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increasing the risk of excess and obsolete inventories;
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•
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increasing pressure on the prices for our products and services; and
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•
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creating longer sales cycles and greater difficulty in collecting sales proceeds.
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Item 1B.
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Unresolved Staff Comments
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Item 2.
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Properties
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Item 3.
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Legal Proceedings
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Item 4.
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Mine Safety Disclosures
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Item 5.
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Market for the Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
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2016
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2015
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||||||||||||
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High
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Low
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High
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Low
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||||||||
First Quarter
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$
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142.99
|
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$
|
119.75
|
|
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$
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139.03
|
|
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$
|
121.54
|
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Second Quarter
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154.81
|
|
|
140.21
|
|
|
136.24
|
|
|
125.25
|
|
||||
Third Quarter
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160.68
|
|
|
143.01
|
|
|
141.25
|
|
|
117.98
|
|
||||
Fourth Quarter
|
160.10
|
|
|
139.07
|
|
|
143.65
|
|
|
117.10
|
|
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2016
|
|
|
2015
|
|
||
|
|
|
|
||||
First Quarter
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$
|
0.15
|
|
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$
|
0.15
|
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Second Quarter
|
0.15
|
|
|
0.15
|
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Third Quarter
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0.15
|
|
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0.15
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Fourth Quarter
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0.15
|
|
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0.15
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Period
|
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Total Number of Shares Purchased
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|
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Average Price Paid per Share
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|
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Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs (1)
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Maximum Dollar Amount of Shares That May Yet Be Purchased Under the Plans or Programs(1)
(in millions) |
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||||||
Fiscal October (Oct. 2 - Nov. 5)
|
|
—
|
|
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$
|
—
|
|
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—
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|
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$
|
1,500.0
|
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Fiscal November (Nov. 6 - Dec. 3)
|
|
600,000
|
|
|
141.83
|
|
|
600,000
|
|
|
1,414.9
|
|
||
Fiscal December (Dec. 4 - Dec. 31)
|
|
1,153,466
|
|
|
142.96
|
|
|
1,153,466
|
|
|
1,250.0
|
|
||
|
|
|
|
|
|
|
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|
||||||
Total Fourth Quarter
|
|
1,753,466
|
|
|
$
|
142.58
|
|
|
1,753,466
|
|
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$
|
1,250.0
|
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(1)
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On July 7, 2016, the Board of Directors authorized the repurchase of up to $1.50 billion of the company’s common stock.
All of the shares of common stock repurchased by the company during the
fourth
quarter of
2016
were purchased under this program.
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Item 6.
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Selected Financial Data
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(In millions except per share amounts)
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2016 (a)
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|
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2015 (b)
|
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2014 (c)
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2013 (d)
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2012 (e)
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|||||
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||||||||||
Statement of Income Data
|
|
|
|
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||||||||||
Revenues
|
|
$
|
18,274.1
|
|
|
$
|
16,965.4
|
|
|
$
|
16,889.6
|
|
|
$
|
13,090.3
|
|
|
$
|
12,509.9
|
|
Operating Income
|
|
2,449.2
|
|
|
2,336.2
|
|
|
2,503.0
|
|
|
1,609.6
|
|
|
1,482.1
|
|
|||||
Income from Continuing Operations
|
|
2,025.3
|
|
|
1,980.3
|
|
|
1,895.5
|
|
|
1,279.1
|
|
|
1,258.4
|
|
|||||
Net Income
|
|
2,021.8
|
|
|
1,975.4
|
|
|
1,894.4
|
|
|
1,273.3
|
|
|
1,177.9
|
|
|||||
Earnings per Share from Continuing Operations:
|
|
|
|
|
|
|
|
|
|
|||||||||||
Basic
|
|
5.13
|
|
|
4.97
|
|
|
4.76
|
|
|
3.55
|
|
|
3.46
|
|
|||||
Diluted
|
|
5.10
|
|
|
4.93
|
|
|
4.71
|
|
|
3.50
|
|
|
3.43
|
|
|||||
Earnings per Share:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Basic
|
|
5.12
|
|
|
4.96
|
|
|
4.76
|
|
|
3.53
|
|
|
3.24
|
|
|||||
Diluted
|
|
5.09
|
|
|
4.92
|
|
|
4.71
|
|
|
3.48
|
|
|
3.21
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Cash Dividends Declared per Share
|
|
0.60
|
|
|
0.60
|
|
|
0.60
|
|
|
0.60
|
|
|
0.54
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Balance Sheet Data
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Working Capital
|
|
$
|
2,155.2
|
|
|
$
|
1,594.9
|
|
|
$
|
1,190.0
|
|
|
$
|
6,754.7
|
|
|
$
|
2,741.5
|
|
Total Assets
|
|
45,907.5
|
|
|
40,834.3
|
|
|
42,852.1
|
|
|
31,863.4
|
|
|
27,444.6
|
|
|||||
Long-term Obligations
|
|
15,372.4
|
|
|
11,420.2
|
|
|
12,351.6
|
|
|
9,499.6
|
|
|
7,031.2
|
|
|||||
Shareholders' Equity
|
|
21,539.3
|
|
|
21,350.2
|
|
|
20,548.1
|
|
|
16,856.1
|
|
|
15,464.7
|
|
(a)
|
Reflects
$395 million
of pre-tax charges for restructuring and other costs and the repurchase of
$1.25 billion
of the company’s common stock. Also reflects the acquisitions of Affymetrix, Inc. in March 2016 and FEI Company in September 2016.
|
(b)
|
Reflects
$171 million
of pre-tax charges for restructuring and other costs and the repurchase of
$500 million
of the company’s common stock.
|
(c)
|
Reflects
$140 million
of pre-tax income from gains on sale of businesses, net of restructuring and other costs. Also reflects the acquisition of Life Technologies Corporation in February 2014.
|
(d)
|
Reflects
$180 million
of pre-tax charges for restructuring and other costs and the repurchase of
$90 million
of the company’s common stock. Also reflects the issuance of $3.20 billion of long-term debt in December 2013 to fund the acquisition of Life Technologies in February 2014.
|
(e)
|
Reflects
$150 million
of pre-tax charges for restructuring and other costs; after-tax income of
$81 million
related to the company’s discontinued operations; and the repurchase of $1.15 billion of the company’s common stock.
|
Item 7.
|
Management’s Discussion and Analysis of Financial Condition and Results of Operations
|
(Dollars in millions)
|
|
2016
|
|
2015
|
||||||||||
|
|
|
|
|
|
|
|
|
||||||
Revenues
|
|
|
|
|
|
|
|
|
||||||
Life Sciences Solutions
|
|
$
|
4,978.1
|
|
|
27.2
|
%
|
|
$
|
4,439.4
|
|
|
26.2
|
%
|
Analytical Instruments
|
|
3,668.2
|
|
|
20.1
|
%
|
|
3,208.2
|
|
|
18.9
|
%
|
||
Specialty Diagnostics
|
|
3,339.2
|
|
|
18.3
|
%
|
|
3,243.9
|
|
|
19.1
|
%
|
||
Laboratory Products and Services
|
|
7,030.0
|
|
|
38.5
|
%
|
|
6,661.5
|
|
|
39.3
|
%
|
||
Eliminations
|
|
(741.4
|
)
|
|
(4.1
|
)%
|
|
(587.6
|
)
|
|
(3.5
|
)%
|
||
|
|
|
|
|
|
|
|
|
||||||
|
|
$
|
18,274.1
|
|
|
100
|
%
|
|
$
|
16,965.4
|
|
|
100
|
%
|
(a)
|
Accounts Receivable
|
(b)
|
Inventories
|
(c)
|
Intangible Assets and Goodwill
|
(d)
|
Revenues
|
(e)
|
Income Taxes
|
(f)
|
Contingencies and Litigation
|
(g)
|
Pension and Other Retiree Benefits
|
(In millions)
|
|
2016
|
|
|
2015
|
|
|
Total
Change
|
|
|
Currency
Translation
|
|
|
Acquisitions/
Divestitures
|
|
|
Operations
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Revenues
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Life Sciences Solutions
|
|
$
|
4,978.1
|
|
|
$
|
4,439.4
|
|
|
$
|
538.7
|
|
|
$
|
(37.5
|
)
|
|
$
|
261.1
|
|
|
$
|
315.1
|
|
Analytical Instruments
|
|
3,668.2
|
|
|
3,208.2
|
|
|
460.0
|
|
|
(26.8
|
)
|
|
386.9
|
|
|
99.9
|
|
||||||
Specialty Diagnostics
|
|
3,339.2
|
|
|
3,243.9
|
|
|
95.3
|
|
|
(19.7
|
)
|
|
0.2
|
|
|
114.8
|
|
||||||
Laboratory Products and Services
|
|
7,030.0
|
|
|
6,661.5
|
|
|
368.5
|
|
|
(75.5
|
)
|
|
89.6
|
|
|
354.4
|
|
||||||
Eliminations
|
|
(741.4
|
)
|
|
(587.6
|
)
|
|
(153.8
|
)
|
|
14.6
|
|
|
(5.2
|
)
|
|
(163.2
|
)
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Consolidated Revenues
|
|
$
|
18,274.1
|
|
|
$
|
16,965.4
|
|
|
$
|
1,308.7
|
|
|
$
|
(144.9
|
)
|
|
$
|
732.6
|
|
|
$
|
721.0
|
|
(Dollars in millions)
|
|
2016
|
|
|
2015
|
|
|
Change
|
|
||
|
|
|
|
|
|
|
|||||
Revenues
|
|
|
|
|
|
|
|||||
Life Sciences Solutions
|
|
$
|
4,978.1
|
|
|
$
|
4,439.4
|
|
|
12
|
%
|
Analytical Instruments
|
|
3,668.2
|
|
|
3,208.2
|
|
|
14
|
%
|
||
Specialty Diagnostics
|
|
3,339.2
|
|
|
3,243.9
|
|
|
3
|
%
|
||
Laboratory Products and Services
|
|
7,030.0
|
|
|
6,661.5
|
|
|
6
|
%
|
||
Eliminations
|
|
(741.4
|
)
|
|
(587.6
|
)
|
|
26
|
%
|
||
|
|
|
|
|
|
|
|||||
Consolidated Revenues
|
|
$
|
18,274.1
|
|
|
$
|
16,965.4
|
|
|
8
|
%
|
|
|
|
|
|
|
|
|||||
Segment Income
|
|
|
|
|
|
|
|||||
Life Sciences Solutions
|
|
$
|
1,514.7
|
|
|
$
|
1,336.9
|
|
|
13
|
%
|
Analytical Instruments
|
|
745.2
|
|
|
612.8
|
|
|
22
|
%
|
||
Specialty Diagnostics
|
|
909.8
|
|
|
872.9
|
|
|
4
|
%
|
||
Laboratory Products and Services
|
|
1,052.1
|
|
|
999.1
|
|
|
5
|
%
|
||
|
|
|
|
|
|
|
|||||
Subtotal Reportable Segments
|
|
4,221.8
|
|
|
3,821.7
|
|
|
10
|
%
|
||
|
|
|
|
|
|
|
|||||
Cost of Revenues Charges
|
|
(101.5
|
)
|
|
(9.1
|
)
|
|
|
|||
Selling, General and Administrative Charges, Net
|
|
(103.9
|
)
|
|
(46.3
|
)
|
|
|
|||
Restructuring and Other (Costs) Income, Net
|
|
(189.2
|
)
|
|
(115.3
|
)
|
|
|
|||
Amortization of Acquisition-related Intangible Assets
|
|
(1,378.0
|
)
|
|
(1,314.8
|
)
|
|
|
|||
|
|
|
|
|
|
|
|||||
Consolidated Operating Income
|
|
$
|
2,449.2
|
|
|
$
|
2,336.2
|
|
|
5
|
%
|
|
|
|
|
|
|
|
|||||
Reportable Segments Operating Income Margin
|
|
23.1
|
%
|
|
22.5
|
%
|
|
|
|||
|
|
|
|
|
|
|
|||||
Consolidated Operating Income Margin
|
|
13.4
|
%
|
|
13.8
|
%
|
|
|
(Dollars in millions)
|
|
2016
|
|
|
2015
|
|
|
Change
|
|
||
|
|
|
|
|
|
|
|||||
Revenues
|
|
$
|
4,978.1
|
|
|
$
|
4,439.4
|
|
|
12
|
%
|
|
|
|
|
|
|
|
|||||
Operating Income Margin
|
|
30.4
|
%
|
|
30.1
|
%
|
|
0.3 pt
|
|
(Dollars in millions)
|
|
2016
|
|
|
2015
|
|
|
Change
|
|
||
|
|
|
|
|
|
|
|||||
Revenues
|
|
$
|
3,668.2
|
|
|
$
|
3,208.2
|
|
|
14
|
%
|
|
|
|
|
|
|
|
|||||
Operating Income Margin
|
|
20.3
|
%
|
|
19.1
|
%
|
|
1.2 pt
|
|
(Dollars in millions)
|
|
2016
|
|
|
2015
|
|
|
Change
|
|
||
|
|
|
|
|
|
|
|||||
Revenues
|
|
$
|
3,339.2
|
|
|
$
|
3,243.9
|
|
|
3
|
%
|
|
|
|
|
|
|
|
|||||
Operating Income Margin
|
|
27.2
|
%
|
|
26.9
|
%
|
|
0.3 pt
|
|
(Dollars in millions)
|
|
2016
|
|
|
2015
|
|
|
Change
|
|
||
|
|
|
|
|
|
|
|||||
Revenues
|
|
$
|
7,030.0
|
|
|
$
|
6,661.5
|
|
|
6
|
%
|
|
|
|
|
|
|
|
|||||
Operating Income Margin
|
|
15.0
|
%
|
|
15.0
|
%
|
|
0.0 pt
|
|
(In millions)
|
|
2015
|
|
|
2014
|
|
|
Total
Change
|
|
|
Currency
Translation
|
|
|
Acquisitions/
Divestitures
|
|
|
Operations
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Revenues
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Life Sciences Solutions
|
|
$
|
4,439.4
|
|
|
$
|
4,195.7
|
|
|
$
|
243.7
|
|
|
$
|
(263.8
|
)
|
|
$
|
305.9
|
|
|
$
|
201.6
|
|
Analytical Instruments
|
|
3,208.2
|
|
|
3,252.2
|
|
|
(44.0
|
)
|
|
(188.8
|
)
|
|
4.1
|
|
|
140.7
|
|
||||||
Specialty Diagnostics
|
|
3,243.9
|
|
|
3,343.6
|
|
|
(99.7
|
)
|
|
(196.6
|
)
|
|
10.8
|
|
|
86.1
|
|
||||||
Laboratory Products and Services
|
|
6,661.5
|
|
|
6,601.5
|
|
|
60.0
|
|
|
(302.9
|
)
|
|
(101.9
|
)
|
|
464.8
|
|
||||||
Eliminations
|
|
(587.6
|
)
|
|
(503.4
|
)
|
|
(84.2
|
)
|
|
13.8
|
|
|
(7.4
|
)
|
|
(90.6
|
)
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Consolidated Revenues
|
|
$
|
16,965.4
|
|
|
$
|
16,889.6
|
|
|
$
|
75.8
|
|
|
$
|
(938.3
|
)
|
|
$
|
211.5
|
|
|
$
|
802.6
|
|
(Dollars in millions)
|
|
2015
|
|
|
2014
|
|
|
Change
|
|
||
|
|
|
|
|
|
|
|||||
Revenues
|
|
|
|
|
|
|
|||||
Life Sciences Solutions
|
|
$
|
4,439.4
|
|
|
$
|
4,195.7
|
|
|
6
|
%
|
Analytical Instruments
|
|
3,208.2
|
|
|
3,252.2
|
|
|
(1
|
)%
|
||
Specialty Diagnostics
|
|
3,243.9
|
|
|
3,343.6
|
|
|
(3
|
)%
|
||
Laboratory Products and Services
|
|
6,661.5
|
|
|
6,601.5
|
|
|
1
|
%
|
||
Eliminations
|
|
(587.6
|
)
|
|
(503.4
|
)
|
|
17
|
%
|
||
|
|
|
|
|
|
|
|||||
Consolidated Revenues
|
|
$
|
16,965.4
|
|
|
$
|
16,889.6
|
|
|
0
|
%
|
|
|
|
|
|
|
|
|||||
Segment Income
|
|
|
|
|
|
|
|
|
|
||
Life Sciences Solutions
|
|
$
|
1,336.9
|
|
|
$
|
1,214.9
|
|
|
10
|
%
|
Analytical Instruments
|
|
612.8
|
|
|
581.1
|
|
|
5
|
%
|
||
Specialty Diagnostics
|
|
872.9
|
|
|
916.0
|
|
|
(5
|
)%
|
||
Laboratory Products and Services
|
|
999.1
|
|
|
982.8
|
|
|
2
|
%
|
||
|
|
|
|
|
|
|
|||||
Subtotal Reportable Segments
|
|
3,821.7
|
|
|
3,694.8
|
|
|
3
|
%
|
||
|
|
|
|
|
|
|
|||||
Cost of Revenues Charges
|
|
(9.1
|
)
|
|
(327.6
|
)
|
|
|
|
||
Selling, General and Administrative Costs, Net
|
|
(46.3
|
)
|
|
(130.7
|
)
|
|
|
|
||
Restructuring and Other Income (Costs), Net
|
|
(115.3
|
)
|
|
598.2
|
|
|
|
|
||
Amortization of Acquisition-related Intangible Assets
|
|
(1,314.8
|
)
|
|
(1,331.7
|
)
|
|
|
|
||
|
|
|
|
|
|
|
|||||
Consolidated Operating Income
|
|
$
|
2,336.2
|
|
|
$
|
2,503.0
|
|
|
(7
|
)%
|
|
|
|
|
|
|
|
|||||
Reportable Segments Operating Income Margin
|
|
22.5
|
%
|
|
21.9
|
%
|
|
|
|
||
|
|
|
|
|
|
|
|||||
Consolidated Operating Income Margin
|
|
13.8
|
%
|
|
14.8
|
%
|
|
|
|
(Dollars in millions)
|
|
2015
|
|
|
2014
|
|
|
Change
|
|
||
|
|
|
|
|
|
|
|||||
Revenues
|
|
$
|
4,439.4
|
|
|
$
|
4,195.7
|
|
|
6
|
%
|
|
|
|
|
|
|
|
|||||
Operating Income Margin
|
|
30.1
|
%
|
|
29.0
|
%
|
|
1.1 pt
|
|
(Dollars in millions)
|
|
2015
|
|
|
2014
|
|
|
Change
|
|
||
|
|
|
|
|
|
|
|||||
Revenues
|
|
$
|
3,208.2
|
|
|
$
|
3,252.2
|
|
|
(1
|
)%
|
|
|
|
|
|
|
|
|||||
Operating Income Margin
|
|
19.1
|
%
|
|
17.9
|
%
|
|
1.2 pt
|
|
(Dollars in millions)
|
|
2015
|
|
|
2014
|
|
|
Change
|
|
||
|
|
|
|
|
|
|
|||||
Revenues
|
|
$
|
3,243.9
|
|
|
$
|
3,343.6
|
|
|
(3
|
)%
|
|
|
|
|
|
|
|
|||||
Operating Income Margin
|
|
26.9
|
%
|
|
27.4
|
%
|
|
-0.5 pt
|
|
(Dollars in millions)
|
|
2015
|
|
|
2014
|
|
|
Change
|
|
||
|
|
|
|
|
|
|
|||||
Revenues
|
|
$
|
6,661.5
|
|
|
$
|
6,601.5
|
|
|
1
|
%
|
|
|
|
|
|
|
|
|||||
Operating Income Margin
|
|
15.0
|
%
|
|
14.9
|
%
|
|
0.1 pt
|
|
|
|
Payments due by Period or Expiration of Commitment
|
||||||||||||||||||
(In millions)
|
|
2017
|
|
|
2018 and 2019
|
|
|
2020 and 2021
|
|
|
2022 and Thereafter
|
|
|
Total
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Contractual Obligations and Other Commercial Commitments
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Debt principal, including short-term debt (a)
|
|
$
|
1,253.8
|
|
|
$
|
3,006.5
|
|
|
$
|
3,997.0
|
|
|
$
|
8,431.7
|
|
|
$
|
16,689.0
|
|
Interest
|
|
0.9
|
|
|
1.5
|
|
|
1.1
|
|
|
1.1
|
|
|
4.6
|
|
|||||
Capital lease obligations
|
|
1.7
|
|
|
3.7
|
|
|
3.9
|
|
|
2.7
|
|
|
12.0
|
|
|||||
Operating lease obligations
|
|
163.7
|
|
|
235.6
|
|
|
139.7
|
|
|
176.5
|
|
|
715.5
|
|
|||||
Unconditional purchase obligations (b)
|
|
362.2
|
|
|
14.3
|
|
|
1.2
|
|
|
0.3
|
|
|
378.0
|
|
|||||
Letters of credit and bank guarantees
|
|
162.6
|
|
|
12.8
|
|
|
3.2
|
|
|
0.7
|
|
|
179.3
|
|
|||||
Surety bonds and other guarantees
|
|
22.9
|
|
|
0.9
|
|
|
—
|
|
|
—
|
|
|
23.8
|
|
|||||
Pension obligations on balance sheet
|
|
41.4
|
|
|
84.4
|
|
|
83.0
|
|
|
468.0
|
|
|
676.8
|
|
|||||
Asset retirement obligations accrued on balance sheet
|
|
2.8
|
|
|
13.5
|
|
|
9.9
|
|
|
16.3
|
|
|
42.5
|
|
|||||
Acquisition-related contingent consideration accrued on balance sheet
|
|
3.4
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
3.4
|
|
|||||
Other (c)
|
|
1.4
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1.4
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
|
$
|
2,016.8
|
|
|
$
|
3,373.2
|
|
|
$
|
4,239.0
|
|
|
$
|
9,097.3
|
|
|
$
|
18,726.3
|
|
(a)
|
Amounts represent the expected cash payments for debt and do not include any deferred issuance costs.
|
(b)
|
Unconditional purchase obligations include agreements to purchase goods, services or fixed assets that are enforceable and legally binding 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 cancelable at any time without penalty.
|
(c)
|
Obligation represents funding commitments pursuant to investments held by the company.
|
Item 7A.
|
Quantitative and Qualitative Disclosures About Market Risk
|
Item 8.
|
Financial Statements and Supplementary Data
|
Item 9.
|
Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
|
Item 9A.
|
Controls and Procedures
|
Item 9B.
|
Other Information
|
Item 10.
|
Directors, Executive Officers and Corporate Governance
|
Item 11.
|
Executive Compensation
|
Item 12.
|
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
|
Item 13.
|
Certain Relationships and Related Transactions, and Director Independence
|
Item 14.
|
Principal Accountant Fees and Services
|
Item 15.
|
Exhibits and Financial Statement Schedules
|
(a)
|
The following documents are filed as part of this report:
|
(1)
|
Consolidated Financial Statements (see Index on page F-1 of this report)
|
(2)
|
All schedules are omitted because they are not applicable or not required, or because the required information is included either in the consolidated financial statements or in the notes thereto.
|
(b)
|
Exhibits
|
See the Exhibit Index on page
45
.
|
Date:
|
February 28, 2017
|
THERMO FISHER SCIENTIFIC INC.
|
|
|
|
|
|
|
|
|
|
|
|
By:
|
/s/ Marc N. Casper
|
|
|
|
Marc N. Casper
|
|
|
|
President and Chief Executive Officer
|
Signature
|
|
Title
|
|
|
|
|
|
By:
|
/s/ Marc N. Casper
|
|
President, Chief Executive Officer and Director
|
|
Marc N. Casper
|
|
(Principal Executive Officer)
|
|
|
|
|
By:
|
/s/ Jim P. Manzi
|
|
Chairman of the Board and Director
|
|
Jim P. Manzi
|
|
|
|
|
|
|
By:
|
/s/ Stephen Williamson
|
|
Senior Vice President and Chief Financial Officer
|
|
Stephen Williamson
|
|
(Principal Financial Officer)
|
|
|
|
|
By:
|
/s/ Peter E. Hornstra
|
|
Vice President and Chief Accounting Officer
|
|
Peter E. Hornstra
|
|
(Principal Accounting Officer)
|
|
|
|
|
By:
|
/s/ Nelson J. Chai
|
|
Director
|
|
Nelson J. Chai
|
|
|
|
|
|
|
By:
|
/s/ C. Martin Harris
|
|
Director
|
|
C. Martin Harris
|
|
|
|
|
|
|
By:
|
/s/ Tyler E. Jacks
|
|
Director
|
|
Tyler E. Jacks
|
|
|
|
|
|
|
By:
|
/s/ Judy C. Lewent
|
|
Director
|
|
Judy C. Lewent
|
|
|
|
|
|
|
By:
|
/s/ Thomas J. Lynch
|
|
Director
|
|
Thomas J. Lynch
|
|
|
|
|
|
|
By:
|
/s/ William G. Parrett
|
|
Director
|
|
William G. Parrett
|
|
|
|
|
|
|
By:
|
/s/ Lars R. S
ø
rensen
|
|
Director
|
|
Lars R. S
ø
rensen
|
|
|
|
|
|
|
By:
|
/s/ Scott M. Sperling
|
|
Director
|
|
Scott M. Sperling
|
|
|
|
|
|
|
By:
|
/s/ Elaine S. Ullian
|
|
Director
|
|
Elaine S. Ullian
|
|
|
Exhibit
Number
|
|
Description of Exhibit
|
|
|
|
3.1
|
|
Amended and Restated Certificate of Incorporation of the Registrant (filed as Exhibit 3.1 to the Registrant’s Annual Report on Form 10-K for the year ended December 31, 2005 [File No. 1-8002] and incorporated in this document by reference).
|
|
|
|
3.2
|
|
Amendment to Thermo Fisher Scientific Inc.’s Third Amended and Restated Certificate of Incorporation (filed as Exhibit 3.1 to the Registrant’s Current Report on Form 8-K filed November 14, 2006 [File No. 1-8002] and incorporated in this document by reference).
|
|
|
|
3.3
|
|
Certificate of Elimination of the Series B Junior Participating Preferred Stock of the Company, dated November 13, 2015 (filed as Exhibit 3.1 to the Registrant’s Current Report on Form 8-K filed November 16, 2015 [File No. 1-8002] and incorporated in this document by reference).
|
|
|
|
3.4
|
|
Bylaws of the Registrant, as amended and effective as of July 12, 2011 (filed as Exhibit 3.1 to the Registrant’s Current Report on Form 8-K filed July 14, 2011 [File No. 1-8002] and incorporated in this document by reference).
|
|
|
|
|
|
The Registrant agrees, pursuant to Item 601(b)(4)(iii)(A) of Regulation S-K, to furnish to the Commission, upon request, a copy of each instrument with respect to long-term debt of the Registrant or its consolidated subsidiaries.
|
|
|
|
4.1
|
|
Indenture dated as of November 20, 2009 between the Company and The Bank of New York Mellon Trust Company, N.A. (filed as Exhibit 99.1 to the Registrant’s Current Report on Form 8-K with the SEC on November 20, 2009 [File No. 1-8002] and incorporated in this document by reference).
|
|
|
|
4.2
|
|
First Supplemental Indenture dated as of November 20, 2009 between the Company and The Bank of New York Mellon Trust Company, N.A. (filed as Exhibit 99.2 to the Registrant’s Current Report on Form 8-K with the SEC on November 20, 2009 [File No. 1-8002] and incorporated in this document by reference).
|
|
|
|
4.3
|
|
Second Supplemental Indenture dated as of April 27, 2010 between the Company and The Bank of New York Mellon Trust Company, N.A. (filed as Exhibit 99.2 to the Registrant’s Current Report on Form 8-K with the SEC on April 27, 2010 [File No. 1-8002] and incorporated in this document by reference).
|
|
|
|
4.4
|
|
Third Supplemental Indenture dated as of February 22, 2011 between the Company and The Bank of New York Mellon Trust Company, N.A. (filed as Exhibit 99.2 to the Registrant’s Current Report on Form 8-K with the SEC on February 22, 2011 [File No. 1-8002] and incorporated in this document by reference).
|
|
|
|
4.5
|
|
Fourth Supplemental Indenture dated as of August 16, 2011 between the Company and The Bank of New York Mellon Trust Company, N.A. (filed as Exhibit 99.2 to the Registrant’s Current Report on Form 8-K filed August 16, 2011 [File No. 1-8002] and incorporated in this document by reference).
|
|
|
|
4.6
|
|
Fifth Supplemental Indenture dated as of August 22, 2012 between the Company and The Bank of New York Mellon Trust Company, N.A. (filed as Exhibit 99.2 to the Registrant’s Current Report on Form 8-K filed August 22, 2012 [File No. 1-8002] and incorporated in this document by reference).
|
|
|
|
4.7
|
|
Sixth Supplemental Indenture, dated as of December 11, 2013, between the Company and The Bank of New York Mellon Trust Company, N.A. (filed as Exhibit 99.2 to the Registrant’s Current Report on Form 8-K filed December 11, 2013 [File No. 1-8002] and incorporated in this document by reference).
|
|
|
|
4.8
|
|
Seventh Supplemental Indenture, dated as of November 14, 2014, between the Company and The Bank of New York Mellon Trust Company, N.A. (filed as Exhibit 99.2 to the Registrant’s Current Report on Form 8-K filed November 14, 2014 [File No. 1-8002] and incorporated in this document by reference).
|
|
|
|
4.9
|
|
Eighth Supplemental Indenture, dated as of November 24, 2014, among the Company, The Bank of New York Mellon Trust Company, N.A., as trustee, and The Bank of New York Mellon, London Branch, as paying agent (filed as Exhibit 4.2 to the Registrant’s Current Report on Form 8-K filed November 24, 2014 [File No. 1-8002] and incorporated in this document by reference).
|
|
|
|
4.10
|
|
Ninth Supplemental Indenture, dated as of July 21, 2015, among the Company, The Bank of New York Mellon Trust Company, N.A., as trustee, and The Bank of New York Mellon, London Branch, as paying agent (filed as Exhibit 4.2 to the Registrant’s Current Report on Form 8-K filed July 21, 2015 [File No. 1-8002] and incorporated in this document by reference).
|
|
|
|
4.11
|
|
Tenth Supplemental Indenture, dated as of November 24, 2015, among the Company, The Bank of New York Mellon Trust Company, N.A., as trustee, and The Bank of New York Mellon, London Branch, as paying agent (filed as Exhibit 4.2 to the Registrant’s Current Report on Form 8-K filed November 24, 2015 [File No. 1-8002] and incorporated in this document by reference).
|
|
|
|
4.12
|
|
Eleventh Supplemental Indenture, dated as of December 9, 2015, between the Company and The Bank of New York Mellon Trust Company, N.A. (filed as Exhibit 4.2 to the Registrant’s Current Report on Form 8-K filed December 9, 2015 [File No. 1-8002] and incorporated in this document by reference).
|
Exhibit
Number
|
|
Description of Exhibit
|
|
|
|
4.13
|
|
Twelfth Supplemental Indenture, dated as of April 13, 2016, between the Company and The Bank of New York Mellon Trust Company, N.A. (filed as Exhibit 4.2 to the Registrant’s Current Report on Form 8-K filed April 13, 2016 [File No. 1-8002] and incorporated in this document by reference).
|
|
|
|
4.14
|
|
Thirteenth Supplemental Indenture, dated as of September 12, 2016, between the Company and The Bank of New York Mellon Trust Company, N.A., as trustee (filed as Exhibit 4.2 to the Registrant’s Current Report on Form 8-K filed September 12, 2016 [File No. 1-8002] and incorporated in this document by reference).
|
|
|
|
4.15
|
|
Fourteenth Supplemental Indenture, dated as of September 19, 2016, between the Company and The Bank of New York Mellon Trust Company, N.A., as trustee (filed as Exhibit 4.2 to the Registrant’s Current Report on Form 8-K filed September 19, 2016 [File No. 1-8002] and incorporated in this document by reference).
|
|
|
|
4.16
|
|
Indenture, dated as of August 9, 2016, among Thermo Fisher Scientific (Finance I) B.V., as issuer, the Company, as guarantor, and The Bank of New York Mellon Trust Company, N.A., as trustee (filed as Exhibit 4.1 to the Registrant’s Current Report on Form 8-K filed August 9, 2016 [File No. 1-8002] and incorporated in this document by reference).
|
|
|
|
4.17
|
|
First Supplemental Indenture, dated as of August 9, 2016, among Thermo Fisher Scientific (Finance I) B.V., as issuer, the Company, as guarantor, and The Bank of New York Mellon Trust Company, N.A., as trustee (filed as Exhibit 4.2 to the Registrant’s Current Report on Form 8-K filed August 9, 2016 [File No. 1-8002] and incorporated in this document by reference).
|
|
|
|
4.18
|
|
Indenture between Life Technologies and U.S. Bank National Association., as trustee, dated as of February 19, 2010 (filed as Exhibit 4.1 to Life Technologies Corporation’s Current Report on Form 8-K, filed on February 19, 2010 [File No. 000-25317] and incorporated in this document by reference).
|
|
|
|
4.19
|
|
First Supplemental Indenture between Life Technologies and U.S. Bank National Association., as trustee, dated as of February 19, 2010, including the forms of the Life Technologies 3.375% Senior Notes due 2013, 4.400% Senior Notes due 2015 and 6.000% Senior Notes due 2020 (filed as Exhibit 4.2 to Life Technologies Corporation’s Current Report on Form 8-K, filed on February 19, 2010 [File No. 000-25317] and incorporated in this document by reference).
|
|
|
|
4.20
|
|
Second Supplemental Indenture between Life Technologies and U.S. Bank National Association., as trustee, dated as of December 14, 2010, including the forms of the Life Technologies 3.50% Senior Notes due 2016 and 5.00% Senior Notes due 2021 (filed as Exhibit 4.2 to Life Technologies Corporation’s Current Report on Form 8-K, filed on December 14, 2010 [File No. 000-25317] and incorporated in this document by reference).
|
|
|
|
10.1
|
|
Thermo Fisher Scientific Inc. Deferred Compensation Plan for Directors of the Registrant, as amended and restated on September 12, 2007 (filed as Exhibit 10.2 to the Registrant’s Quarterly Report on Form 10-Q for the quarter ended September 29, 2007 [File No. 1‑8002] and incorporated in this document by reference).*
|
|
|
|
10.2
|
|
Thermo Electron Corporation Deferred Compensation Plan, effective November 1, 2001 (filed as Exhibit 10.13 to the Registrant’s Annual Report on Form 10-K for the fiscal year ended December 29, 2001 [File No. 1-8002] and incorporated in this document by reference).*
|
|
|
|
10.3
|
|
Form of Amended and Restated Indemnification Agreement between the Registrant and its directors and officers (filed as Exhibit 10.2 to the Registrant’s Registration Statement on Form S-4 [Reg. No. 333-90661] and incorporated in this document by reference).*
|
|
|
|
10.4
|
|
Executive Registry Program at the Massachusetts General Hospital (filed as Exhibit 10.74 to the Registrant’s Annual Report on Form 10-K for the fiscal year ended December 28, 2002 [File No. 1-8002] and incorporated in this document by reference).*
|
|
|
|
10.5
|
|
Form of Executive Change in Control Retention Agreement for Officers (other than Marc Casper) (filed as Exhibit 10.1 to the Registrant’s Quarterly Report on Form 10-Q filed May 3, 2013 [File No. 1-8002] and incorporated in this document by reference).*
|
|
|
|
10.6
|
|
Thermo Fisher Scientific Inc. Executive Severance Policy (filed as Exhibit 10.2 to the Registrant’s Current Report on Form 8-K filed May 19, 2008 [File No. 1-8002] and incorporated in this document by reference).*
|
|
|
|
10.7
|
|
Summary of Thermo Fisher Scientific Inc. Annual Director Compensation.*
|
|
|
|
10.8
|
|
Summary of Annual Incentive Program of Thermo Electron Corporation (filed as Exhibit 10.66 to the Registrant’s Annual Report on Form 10-K for the year ended December 31, 2004 [File No. 1-8002] and incorporated in this document by reference).*
|
|
|
|
10.9
|
|
Summary of 2016 Annual Cash Incentive Plan Matters (set forth in Item 5.02 to the Registrant’s Current Report on Form 8-K filed February 25, 2016 [File No. 1-8002] under the heading “Annual Cash Incentive Plans - Establishment of Criteria for 2016 Bonus” and incorporated in this document by reference).*
|
Exhibit
Number
|
|
Description of Exhibit
|
|
|
|
10.10
|
|
Form of Noncompetition Agreement between the Registrant and certain key employees and executive officers (filed as Exhibit 10.25 to the Registrant’s Annual Report on Form 10-K for the year ended December 31, 2009 [File No. 1-8002] and incorporated in this document by reference).*
|
|
|
|
10.11
|
|
Retirement Plan for Non-Employee Directors of Fisher Scientific International Inc. (filed as Exhibit 10.12 to Fisher Scientific International Inc.’s Annual Report on Form 10-K for the year ended December 31, 1992, filed March 24, 1993 [File No. 1-10920] and incorporated in this document by reference).*
|
|
|
|
10.12
|
|
First Amendment to the Fisher Scientific International Inc. Retirement Plan for Non-Employee Directors (filed as Exhibit 10.04 to Fisher Scientific International Inc.’s Quarterly Report on Form 10-Q filed May 10, 2005 [File No. 1-10920] and incorporated in this document by reference).*
|
|
|
|
10.13
|
|
Amendment to Retirement Plan for Non-Employee Directors of Fisher Scientific International Inc. (filed as Exhibit 10.02 to Fisher Scientific International Inc.’s Current Report on Form 8-K filed March 7, 2006 [File No. 1-10920] and incorporated in this document by reference).*
|
|
|
|
10.14
|
|
Thermo Fisher Scientific Inc. Amended and Restated 2005 Deferred Compensation Plan, effective January 1, 2009 (filed as Exhibit 10.43 to the Registrant’s Annual Report on Form 10-K for the year ended December 31, 2008 [File No. 1-8002] and incorporated in this document by reference).*
|
|
|
|
10.15
|
|
Thermo Fisher Scientific Inc. 2008 Stock Incentive Plan (filed as Exhibit 10.1 to the Registrant’s Current Report on Form 8-K filed May 22, 2008 [File No. 1-8002] and incorporated in this document by reference).*
|
|
|
|
10.16
|
|
Amendment No. 1 to Thermo Fisher Scientific Inc. Amended and Restated 2005 Deferred Compensation Plan (filed as Exhibit 10.1 to the Registrant’s Quarterly Report on Form 10-Q for the quarter ended June 27, 2009 [File No. 1-8002] and incorporated in this document by reference).*
|
|
|
|
10.17
|
|
Stock Option Agreement, between Marc Casper and the Registrant, dated November 21, 2009 (filed as Exhibit 10.1 to the Registrant’s Current Report on Form 8-K filed November 25, 2009 [File No. 1-8002] and incorporated in this document by reference).*
|
|
|
|
10.18
|
|
Stock Option Agreement, between Marc Casper and the Registrant, dated November 21, 2009 (filed as Exhibit 10.2 to the Registrant’s Current Report on Form 8-K filed November 25, 2009 [File No. 1-8002] and incorporated in this document by reference).*
|
|
|
|
10.19
|
|
2009 Restatement of Executive Severance Agreement, between Marc Casper and the Registrant, dated November 21, 2009 (filed as Exhibit 10.5 to the Registrant’s Current Report on Form 8-K filed November 25, 2009 [File No. 1-8002] and incorporated in this document by reference).*
|
|
|
|
10.20
|
|
Executive Change In Control Retention Agreement, between Marc Casper and the Registrant, dated November 21, 2009 (filed as Exhibit 10.6 to the Registrant’s Current Report on Form 8-K filed November 25, 2009 [File No. 1-8002] and incorporated in this document by reference).*
|
|
|
|
10.21
|
|
Noncompetition Agreement, between Marc Casper and the Registrant, dated November 21, 2009 (filed as Exhibit 10.7 to the Registrant’s Current Report on Form 8-K filed November 25, 2009 [File No. 1-8002] and incorporated in this document by reference).*
|
|
|
|
10.22
|
|
Amendment No. 1 to Executive Severance Policy, dated February 25, 2010 (filed as Exhibit 10.1 to the Registrant’s Current Report on Form 8-K filed February 25, 2010 [File No. 1-8002] and incorporated in this document by reference).*
|
|
|
|
10.23
|
|
Amendment No. 1 to 2009 Restatement of Executive Severance Agreement, dated February 25, 2010, between the Registrant and Marc N. Casper (filed as Exhibit 10.2 to the Registrant’s Current Report on Form 8-K filed February 25, 2010 [File No. 1-8002] and incorporated in this document by reference).*
|
|
|
|
10.24
|
|
Amendment No. 2 to Executive Severance Policy, dated November 10, 2010 (filed as Exhibit 10.54 to the Registrant’s Annual Report on Form 10-K for the year ended December 31, 2010 [File No. 1-8002] and incorporated in this document by reference).*
|
|
|
|
10.25
|
|
Amendment No. 2 to 2009 Restatement of Executive Severance Agreement, dated November 10, 2010, between the Registrant and Marc N. Casper (filed as Exhibit 10.55 to the Registrant’s Annual Report on Form 10-K for the year ended December 31, 2010 [File No. 1-8002] and incorporated in this document by reference).*
|
|
|
|
10.26
|
|
Amendment No. 1 to Executive Change In Control Retention Agreement, dated November 10, 2010, between Marc N. Casper and the Registrant (filed as Exhibit 10.56 to the Registrant’s Annual Report on Form 10-K for the year ended December 31, 2010 [File No. 1-8002] and incorporated in this document by reference).*
|
Exhibit
Number
|
|
Description of Exhibit
|
|
|
|
10.27
|
|
Amendment to 2008 Stock Incentive Plan dated November 10, 2010 (filed as Exhibit 10.57 to the Registrant’s Annual Report on Form 10-K for the year ended December 31, 2010 [File No. 1-8002] and incorporated in this document by reference).*
|
|
|
|
10.28
|
|
Form of Thermo Fisher Scientific Inc.’s February 2011 Restricted Stock Unit Agreement for Directors (filed as Exhibit 10.1 to the Registrant’s Quarterly Report on Form 10-Q for the quarter ended April 2, 2011 [File No. 1-8002] and incorporated in this document by reference).*
|
|
|
|
10.29
|
|
Form of Thermo Fisher Scientific Inc.’s Performance Restricted Stock Unit Agreement (filed as Exhibit 10.4 to the Registrant’s Current Report on Form 8-K filed February 27, 2013 [File No. 1-8002] and incorporated in this document by reference).*
|
|
|
|
10.30
|
|
Form of Thermo Fisher Scientific Inc.’s Restricted Stock Unit Agreement (filed as Exhibit 10.2 to the Registrant’s Current Report on Form 8-K filed February 27, 2013 [File No. 1-8002] and incorporated in this document by reference).*
|
|
|
|
10.31
|
|
Form of Thermo Fisher Scientific Inc.’s Stock Option Agreement (filed as Exhibit 10.6 to the Registrant’s Current Report on Form 8-K filed February 27, 2013 [File No. 1-8002] and incorporated in this document by reference).*
|
|
|
|
10.32
|
|
Performance Restricted Stock Unit Agreement between Thermo Fisher Scientific Inc. and Marc Casper dated February 26, 2013 (filed as Exhibit 10.3 to the Registrant’s Current Report on Form 8-K filed February 27, 2013 [File No. 1-8002] and incorporated in this document by reference).*
|
|
|
|
10.33
|
|
Form of Restricted Stock Unit Agreement between Thermo Fisher Scientific Inc. and Marc Casper (filed as Exhibit 10.1 to the Registrant’s Current Report on Form 8-K filed February 27, 2013 [File No. 1-8002] and incorporated in this document by reference).*
|
|
|
|
10.34
|
|
Form of Stock Option Agreement between Thermo Fisher Scientific Inc. and Marc Casper (filed as Exhibit 10.5 to the Registrant’s Current Report on Form 8-K filed February 27, 2013 [File No. 1-8002] and incorporated in this document by reference).*
|
|
|
|
10.35
|
|
Thermo Fisher Scientific Inc. 2013 Stock Incentive Plan (filed as Exhibit 10.1 to the Registrant’s Current Report on Form 8-K filed May 23, 2013 [File No. 1-8002] and incorporated in this document by reference).*
|
|
|
|
10.36
|
|
Thermo Fisher Scientific Inc. 2013 Annual Incentive Award Plan (filed as Exhibit 10.2 to the Registrant’s Current Report on Form 8-K filed May 23, 2013 [File No. 1-8002] and incorporated in this document by reference).*
|
|
|
|
10.37
|
|
Performance Restricted Stock Unit Agreement between Thermo Fisher Scientific Inc. and Marc Casper dated February 26, 2014, (filed as Exhibit 10.1 to the Registrant’s Current Report on Form 8-K filed February 27, 2014 [File No. 1-8002] and incorporated in this document by reference).*
|
|
|
|
10.38
|
|
Offer Letter dated December 31, 2013, between the Company and Mark Stevenson (filed as Exhibit 10.55 to the Registrant’s Annual Report on Form 10-K filed February 26, 2015 [File No. 1-8002] and incorporated in this document by reference).*
|
|
|
|
10.39
|
|
Restricted Stock Unit Award Agreement between Life Technologies Corporation and Mark Stevenson dated April 2, 2012 (filed as Exhibit 10.57 to the Registrant’s Annual Report on Form 10-K filed February 26, 2015 [File No. 1-8002] and incorporated in this document by reference).*
|
|
|
|
10.40
|
|
Restricted Stock Unit Award Agreement between Life Technologies Corporation and Mark Stevenson dated April 1, 2013 (filed as Exhibit 10.58 to the Registrant’s Annual Report on Form 10-K filed February 26, 2015 [File No. 1-8002] and incorporated in this document by reference).*
|
|
|
|
10.41
|
|
Supplemental Executive Retirement Plan effective as of December 31, 2005, as amended and restated as of August 28, 2006 (filed as Exhibit 10.3 to Applera Corporation’s Quarterly Report on Form 10-Q filed November 6, 2006 [File No. 1-04389] and incorporated in this document by reference).*
|
|
|
|
10.42
|
|
Amendment to Supplemental Executive Retirement Plan, effective as of January 1, 2010 (filed as Exhibit 10.1 to Life Technologies Corporation’s Current Report on Form 8-K filed December 8, 2009 [File No. 000-25317] and incorporated in this document by reference).*
|
|
|
|
10.43
|
|
Noncompetition Agreement between the Registrant and Mark Stevenson, dated September 10, 2015 (filed as Exhibit 10.1 to the Registrant’s Quarterly Report on Form 10-Q filed October 30, 2015 [File No. 1-8002] and incorporated in this document by reference).*
|
|
|
|
10.44
|
|
Form of Thermo Fisher Scientific Inc.’s Stock Option Agreement for Officers.*
|
|
|
|
10.45
|
|
Bridge Credit Agreement, dated July 1, 2016, among the Company, each lender from time to time party thereto, and JPMorgan Chase Bank, N.A. (filed as Exhibit 10.1 to the Registrant’s Current Report on Form 8-K filed July 1, 2016 [File No. 1-8002] and incorporated in this document by reference).
|
Exhibit
Number
|
|
Description of Exhibit
|
|
|
|
10.46
|
|
Term Loan Agreement, dated July 1, 2016, among the Company, a Subsidiary of the Company party thereto, each lender from time to time party thereto, and JPMorgan Chase Bank, N.A. (filed as Exhibit 10.2 to the Registrant’s Current Report on Form 8-K filed July 1, 2016 [File No. 1-8002] and incorporated in this document by reference).
|
|
|
|
10.47
|
|
Credit Agreement, dated July 1, 2016, among the Company, certain Subsidiaries of the Company from time to time party thereto, each lender from time to time party thereto, and Bank of America, N.A. (filed as Exhibit 10.3 to the Registrant’s Current Report on Form 8-K filed July 1, 2016 [File No. 1-8002] and incorporated in this document by reference).
|
|
|
|
21
|
|
Subsidiaries of the Registrant.
|
|
|
|
23.1
|
|
Consent of PricewaterhouseCoopers LLP, an Independent Registered Public Accounting Firm.
|
|
|
|
31.1
|
|
Certification of Chief Executive Officer required by Exchange Act Rules 13a-14(a) and 15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
|
|
|
|
31.2
|
|
Certification of Chief Financial Officer required by Exchange Act Rules 13a-14(a) and 15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
|
|
|
|
32.1
|
|
Certification of Chief Executive Officer required by Exchange Act Rules 13a-14(b) and 15d-14(b), as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.**
|
|
|
|
32.2
|
|
Certification of Chief Financial Officer required by Exchange Act Rules 13a-14(b) and 15d-14(b), as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.**
|
|
|
|
101.INS
|
|
XBRL Instance Document.
|
|
|
|
101.SCH
|
|
XBRL Taxonomy Extension Schema Document.
|
|
|
|
101.CAL
|
|
XBRL Taxonomy Calculation Linkbase Document.
|
|
|
|
101.DEF
|
|
XBRL Taxonomy Definition Linkbase Document.
|
|
|
|
101.LAB
|
|
XBRL Taxonomy Label Linkbase Document.
|
|
|
|
101.PRE
|
|
XBRL Taxonomy Presentation Linkbase Document.
|
|
Page
|
|
|
Report of Independent Registered Public Accounting Firm
|
|
|
|
Consolidated Balance Sheet as of December 31, 2016 and 2015
|
|
|
|
Consolidated Statement of Income for the years ended December 31, 2016, 2015 and 2014
|
|
|
|
Consolidated Statement of Comprehensive Income for the years ended December 31, 2016, 2015 and 2014
|
|
|
|
Consolidated Statement of Cash Flows for the years ended December 31, 2016, 2015 and 2014
|
|
|
|
Consolidated Statement of Shareholders’ Equity for the years ended December 31, 2016, 2015 and 2014
|
|
|
|
Notes to Consolidated Financial Statements
|
|
|
December 31,
|
|
|
December 31,
|
|
||
(In millions except share and per share amounts)
|
|
2016
|
|
|
2015
|
|
||
|
|
|
|
|
||||
Assets
|
|
|
|
|
||||
Current Assets:
|
|
|
|
|
||||
Cash and cash equivalents
|
|
$
|
786.2
|
|
|
$
|
452.1
|
|
Accounts receivable, less allowances of $77.3 and $70.1
|
|
3,048.5
|
|
|
2,544.9
|
|
||
Inventories
|
|
2,213.3
|
|
|
1,991.7
|
|
||
Refundable income taxes
|
|
378.3
|
|
|
218.1
|
|
||
Other current assets
|
|
594.7
|
|
|
534.4
|
|
||
|
|
|
|
|
||||
Total current assets
|
|
7,021.0
|
|
|
5,741.2
|
|
||
|
|
|
|
|
||||
Property, Plant and Equipment, Net
|
|
2,577.8
|
|
|
2,448.8
|
|
||
Acquisition-related Intangible Assets, Net
|
|
13,969.0
|
|
|
12,758.3
|
|
||
Other Assets
|
|
1,011.9
|
|
|
1,058.4
|
|
||
Goodwill
|
|
21,327.8
|
|
|
18,827.6
|
|
||
|
|
|
|
|
||||
Total Assets
|
|
$
|
45,907.5
|
|
|
$
|
40,834.3
|
|
|
|
|
|
|
||||
Liabilities and Shareholders' Equity
|
|
|
|
|
||||
Current Liabilities:
|
|
|
|
|
||||
Short-term obligations and current maturities of long-term obligations
|
|
$
|
1,255.5
|
|
|
$
|
1,051.8
|
|
Accounts payable
|
|
926.2
|
|
|
822.2
|
|
||
Accrued payroll and employee benefits
|
|
708.7
|
|
|
598.2
|
|
||
Accrued income taxes
|
|
165.4
|
|
|
212.5
|
|
||
Deferred revenue
|
|
485.9
|
|
|
317.9
|
|
||
Other accrued expenses
|
|
1,324.1
|
|
|
1,143.7
|
|
||
|
|
|
|
|
||||
Total current liabilities
|
|
4,865.8
|
|
|
4,146.3
|
|
||
|
|
|
|
|
||||
Deferred Income Taxes
|
|
2,557.4
|
|
|
2,622.6
|
|
||
Other Long-term Liabilities
|
|
1,572.6
|
|
|
1,295.0
|
|
||
Long-term Obligations
|
|
15,372.4
|
|
|
11,420.2
|
|
||
|
|
|
|
|
||||
Commitments and Contingencies (Note 10)
|
|
|
|
|
|
|
||
|
|
|
|
|
||||
Shareholders' Equity:
|
|
|
|
|
||||
Preferred stock, $100 par value, 50,000 shares authorized; none issued
|
|
|
|
|
|
|
||
Common stock, $1 par value, 1,200,000,000 shares authorized; 415,138,564 and 411,944,301 shares issued
|
|
415.1
|
|
|
411.9
|
|
||
Capital in excess of par value
|
|
12,139.6
|
|
|
11,801.2
|
|
||
Retained earnings
|
|
13,926.9
|
|
|
12,142.3
|
|
||
Treasury stock at cost, 21,690,679 and 12,314,200 shares
|
|
(2,306.0
|
)
|
|
(1,007.9
|
)
|
||
Accumulated other comprehensive items
|
|
(2,636.3
|
)
|
|
(1,997.3
|
)
|
||
|
|
|
|
|
||||
Total shareholders' equity
|
|
21,539.3
|
|
|
21,350.2
|
|
||
|
|
|
|
|
|
|||
Total Liabilities and Shareholders' Equity
|
|
$
|
45,907.5
|
|
|
$
|
40,834.3
|
|
|
|
Year Ended
|
||||||||||
|
|
December 31,
|
|
|
December 31,
|
|
|
December 31,
|
|
|||
(In millions except per share amounts)
|
|
2016
|
|
|
2015
|
|
|
2014
|
|
|||
|
|
|
|
|
|
|
||||||
Revenues
|
|
|
|
|
|
|
||||||
Product revenues
|
|
$
|
15,712.3
|
|
|
$
|
14,667.8
|
|
|
$
|
14,715.1
|
|
Service revenues
|
|
2,561.8
|
|
|
2,297.6
|
|
|
2,174.5
|
|
|||
|
|
|
|
|
|
|
||||||
Total revenues
|
|
18,274.1
|
|
|
16,965.4
|
|
|
16,889.6
|
|
|||
|
|
|
|
|
|
|
||||||
Costs and Operating Expenses:
|
|
|
|
|
|
|
||||||
Cost of product revenues
|
|
8,213.9
|
|
|
7,583.8
|
|
|
7,934.7
|
|
|||
Cost of service revenues
|
|
1,691.1
|
|
|
1,625.7
|
|
|
1,462.9
|
|
|||
Selling, general and administrative expenses
|
|
4,975.9
|
|
|
4,612.1
|
|
|
4,896.1
|
|
|||
Research and development expenses
|
|
754.8
|
|
|
692.3
|
|
|
691.1
|
|
|||
Restructuring and other costs (income), net
|
|
189.2
|
|
|
115.3
|
|
|
(598.2
|
)
|
|||
|
|
|
|
|
|
|
||||||
Total costs and operating expenses
|
|
15,824.9
|
|
|
14,629.2
|
|
|
14,386.6
|
|
|||
|
|
|
|
|
|
|
||||||
Operating Income
|
|
2,449.2
|
|
|
2,336.2
|
|
|
2,503.0
|
|
|||
Other Expense, Net
|
|
(425.3
|
)
|
|
(399.8
|
)
|
|
(415.8
|
)
|
|||
|
|
|
|
|
|
|
||||||
Income from Continuing Operations Before Income Taxes
|
|
2,023.9
|
|
|
1,936.4
|
|
|
2,087.2
|
|
|||
Benefit from (Provision for) Income Taxes
|
|
1.4
|
|
|
43.9
|
|
|
(191.7
|
)
|
|||
|
|
|
|
|
|
|
||||||
Income from Continuing Operations
|
|
2,025.3
|
|
|
1,980.3
|
|
|
1,895.5
|
|
|||
Loss from Discontinued Operations (net of income tax benefit of $2.2, $2.9 and $0.6)
|
|
(3.5
|
)
|
|
(4.9
|
)
|
|
(1.1
|
)
|
|||
|
|
|
|
|
|
|
||||||
Net Income
|
|
$
|
2,021.8
|
|
|
$
|
1,975.4
|
|
|
$
|
1,894.4
|
|
|
|
|
|
|
|
|
||||||
Earnings per Share from Continuing Operations
|
|
|
|
|
|
|
||||||
Basic
|
|
$
|
5.13
|
|
|
$
|
4.97
|
|
|
$
|
4.76
|
|
Diluted
|
|
$
|
5.10
|
|
|
$
|
4.93
|
|
|
$
|
4.71
|
|
|
|
|
|
|
|
|
||||||
Earnings per Share
|
|
|
|
|
|
|
||||||
Basic
|
|
$
|
5.12
|
|
|
$
|
4.96
|
|
|
$
|
4.76
|
|
Diluted
|
|
$
|
5.09
|
|
|
$
|
4.92
|
|
|
$
|
4.71
|
|
|
|
|
|
|
|
|
||||||
Weighted Average Shares
|
|
|
|
|
|
|
||||||
Basic
|
|
394.8
|
|
|
398.7
|
|
|
398.2
|
|
|||
Diluted
|
|
397.4
|
|
|
401.9
|
|
|
402.3
|
|
|||
|
|
|
|
|
|
|
||||||
Cash Dividends Declared per Common Share
|
|
$
|
0.60
|
|
|
$
|
0.60
|
|
|
$
|
0.60
|
|
|
|
Year Ended
|
||||||||||
|
|
December 31,
|
|
|
December 31,
|
|
|
December 31,
|
|
|||
(In millions)
|
|
2016
|
|
|
2015
|
|
|
2014
|
|
|||
|
|
|
|
|
|
|
||||||
Comprehensive Income
|
|
|
|
|
|
|
||||||
Net Income
|
|
$
|
2,021.8
|
|
|
$
|
1,975.4
|
|
|
$
|
1,894.4
|
|
|
|
|
|
|
|
|
||||||
Other Comprehensive Items:
|
|
|
|
|
|
|
||||||
Currency translation adjustment
|
|
(566.7
|
)
|
|
(706.1
|
)
|
|
(1,182.6
|
)
|
|||
Unrealized gains and losses on available-for-sale investments:
|
|
|
|
|
|
|
||||||
Unrealized holding (losses) gains arising during the period (net of tax (benefit) provision of ($0.3), $0.0 and $0.1)
|
|
(1.6
|
)
|
|
0.5
|
|
|
1.7
|
|
|||
Reclassification adjustment for losses (gains) included in net income (net of tax benefit (provision) of $0.2 and ($0.2))
|
|
0.7
|
|
|
—
|
|
|
(1.7
|
)
|
|||
Unrealized gains and losses on hedging instruments:
|
|
|
|
|
|
|
||||||
Unrealized losses on hedging instruments (net of tax benefit of $22.4 and $5.5)
|
|
(36.6
|
)
|
|
(9.0
|
)
|
|
—
|
|
|||
Reclassification adjustment for losses included in net income (net of tax benefit of $3.7, $1.5 and $1.8)
|
|
6.1
|
|
|
3.3
|
|
|
3.0
|
|
|||
Pension and other postretirement benefit liability adjustments:
|
|
|
|
|
|
|
||||||
Pension and other postretirement benefit liability adjustments arising during the period (net of tax benefit of $16.6, $5.0 and $26.5)
|
|
(46.9
|
)
|
|
(9.0
|
)
|
|
(52.2
|
)
|
|||
Amortization of net loss and prior service benefit included in net periodic pension cost (net of tax benefit of $2.0, $2.9 and $13.3)
|
|
6.0
|
|
|
8.0
|
|
|
24.0
|
|
|||
|
|
|
|
|
|
|
||||||
Total other comprehensive items
|
|
(639.0
|
)
|
|
(712.3
|
)
|
|
(1,207.8
|
)
|
|||
|
|
|
|
|
|
|
||||||
Comprehensive Income
|
|
$
|
1,382.8
|
|
|
$
|
1,263.1
|
|
|
$
|
686.6
|
|
|
|
Year Ended
|
||||||||||
|
|
December 31,
|
|
|
December 31,
|
|
|
December 31,
|
|
|||
(In millions)
|
|
2016
|
|
|
2015
|
|
|
2014
|
|
|||
|
|
|
|
|
|
|
||||||
Operating Activities
|
|
|
|
|
|
|
||||||
Net income
|
|
$
|
2,021.8
|
|
|
$
|
1,975.4
|
|
|
$
|
1,894.4
|
|
Loss from discontinued operations
|
|
3.5
|
|
|
4.9
|
|
|
1.1
|
|
|||
|
|
|
|
|
|
|
||||||
Income from continuing operations
|
|
2,025.3
|
|
|
1,980.3
|
|
|
1,895.5
|
|
|||
|
|
|
|
|
|
|
||||||
Adjustments to reconcile income from continuing operations to net cash provided by operating activities:
|
|
|
|
|
|
|
||||||
Depreciation and amortization
|
|
1,758.0
|
|
|
1,688.2
|
|
|
1,684.8
|
|
|||
Change in deferred income taxes
|
|
(620.0
|
)
|
|
(524.8
|
)
|
|
(621.8
|
)
|
|||
Net gains on sale of businesses
|
|
—
|
|
|
(7.6
|
)
|
|
(895.4
|
)
|
|||
Non-cash stock-based compensation
|
|
133.5
|
|
|
125.0
|
|
|
117.1
|
|
|||
Tax benefits from stock-based compensation awards
|
|
(53.5
|
)
|
|
(64.1
|
)
|
|
(65.6
|
)
|
|||
Non-cash charges for sale of inventories revalued at the date of acquisition
|
|
75.0
|
|
|
6.9
|
|
|
303.4
|
|
|||
Other non-cash expenses, net
|
|
66.8
|
|
|
58.6
|
|
|
38.0
|
|
|||
Changes in assets and liabilities, excluding the effects of acquisitions and dispositions:
|
|
|
|
|
|
|
||||||
Accounts receivable
|
|
(352.2
|
)
|
|
(149.4
|
)
|
|
(145.4
|
)
|
|||
Inventories
|
|
97.8
|
|
|
(140.7
|
)
|
|
(109.8
|
)
|
|||
Other assets
|
|
(152.8
|
)
|
|
(254.3
|
)
|
|
163.1
|
|
|||
Accounts payable
|
|
55.5
|
|
|
(2.7
|
)
|
|
1.2
|
|
|||
Other liabilities
|
|
167.6
|
|
|
147.7
|
|
|
308.4
|
|
|||
Contributions to retirement plans
|
|
(42.7
|
)
|
|
(37.5
|
)
|
|
(49.6
|
)
|
|||
|
|
|
|
|
|
|
||||||
Net cash provided by continuing operations
|
|
3,158.3
|
|
|
2,825.6
|
|
|
2,623.9
|
|
|||
Net cash used in discontinued operations
|
|
(2.0
|
)
|
|
(8.7
|
)
|
|
(4.3
|
)
|
|||
|
|
|
|
|
|
|
||||||
Net cash provided by operating activities
|
|
3,156.3
|
|
|
2,816.9
|
|
|
2,619.6
|
|
|||
|
|
|
|
|
|
|
||||||
Investing Activities
|
|
|
|
|
|
|
|
|
|
|||
Acquisitions, net of cash acquired
|
|
(5,188.4
|
)
|
|
(694.6
|
)
|
|
(13,060.1
|
)
|
|||
Proceeds from sale of businesses, net of cash divested
|
|
—
|
|
|
—
|
|
|
1,521.8
|
|
|||
Purchase of property, plant and equipment
|
|
(444.4
|
)
|
|
(422.9
|
)
|
|
(427.6
|
)
|
|||
Proceeds from sale of property, plant and equipment
|
|
26.3
|
|
|
18.1
|
|
|
49.3
|
|
|||
Proceeds from sale of investments
|
|
81.2
|
|
|
12.0
|
|
|
88.6
|
|
|||
(Increase) decrease in restricted cash
|
|
(1.5
|
)
|
|
5.8
|
|
|
48.6
|
|
|||
Other investing activities, net
|
|
(5.3
|
)
|
|
(5.8
|
)
|
|
(3.3
|
)
|
|||
|
|
|
|
|
|
|
||||||
Net cash used in investing activities
|
|
$
|
(5,532.1
|
)
|
|
$
|
(1,087.4
|
)
|
|
$
|
(11,782.7
|
)
|
|
|
Year Ended
|
||||||||||
|
|
December 31,
|
|
|
December 31,
|
|
|
December 31,
|
|
|||
(In millions)
|
|
2016
|
|
|
2015
|
|
|
2014
|
|
|||
|
|
|
|
|
|
|
||||||
Financing Activities
|
|
|
|
|
|
|
||||||
Net proceeds from issuance of debt
|
|
$
|
7,604.0
|
|
|
$
|
1,798.0
|
|
|
$
|
6,592.3
|
|
Repayment of debt
|
|
(4,334.2
|
)
|
|
(3,780.2
|
)
|
|
(4,466.0
|
)
|
|||
Increase (decrease) in commercial paper, net
|
|
904.1
|
|
|
49.5
|
|
|
(249.9
|
)
|
|||
Purchases of company common stock
|
|
(1,250.0
|
)
|
|
(500.0
|
)
|
|
—
|
|
|||
Dividends paid
|
|
(238.4
|
)
|
|
(240.6
|
)
|
|
(234.8
|
)
|
|||
Net proceeds from issuance of company common stock
|
|
—
|
|
|
—
|
|
|
2,942.0
|
|
|||
Net proceeds from issuance of company common stock under employee stock plans
|
|
135.3
|
|
|
124.0
|
|
|
155.4
|
|
|||
Tax benefits from stock-based compensation awards
|
|
53.5
|
|
|
64.1
|
|
|
65.6
|
|
|||
Other financing activities, net
|
|
(13.7
|
)
|
|
(6.1
|
)
|
|
(8.5
|
)
|
|||
|
|
|
|
|
|
|
||||||
Net cash provided by (used in) financing activities
|
|
2,860.6
|
|
|
(2,491.3
|
)
|
|
4,796.1
|
|
|||
|
|
|
|
|
|
|
||||||
Exchange Rate Effect on Cash
|
|
(150.7
|
)
|
|
(129.6
|
)
|
|
(115.5
|
)
|
|||
|
|
|
|
|
|
|
||||||
Increase (Decrease) in Cash and Cash Equivalents
|
|
334.1
|
|
|
(891.4
|
)
|
|
(4,482.5
|
)
|
|||
Cash and Cash Equivalents at Beginning of Period
|
|
452.1
|
|
|
1,343.5
|
|
|
5,826.0
|
|
|||
|
|
|
|
|
|
|
||||||
Cash and Cash Equivalents at End of Period
|
|
$
|
786.2
|
|
|
$
|
452.1
|
|
|
$
|
1,343.5
|
|
|
|
|
|
|
|
|
||||||
See Note 13 for supplemental cash flow information.
|
|
|
Common Stock
|
|
Capital in Excess of Par Value
|
|
|
Retained Earnings
|
|
|
Treasury Stock
|
|
Accumulated Other Comprehensive Items
|
|
|
Total Shareholders' Equity
|
|
||||||||||||||
(In millions)
|
|
Shares
|
|
|
Amount
|
|
|
|
|
Shares
|
|
|
Amount
|
|
|
|
||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Balance at December 31, 2013
|
|
369.6
|
|
|
$
|
369.6
|
|
|
$
|
8,222.6
|
|
|
$
|
8,753.3
|
|
|
7.6
|
|
|
$
|
(412.2
|
)
|
|
$
|
(77.2
|
)
|
|
$
|
16,856.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Issuance of shares under employees' and directors' stock plans
|
|
4.0
|
|
|
4.0
|
|
|
161.3
|
|
|
—
|
|
|
0.4
|
|
|
(43.7
|
)
|
|
—
|
|
|
121.6
|
|
||||||
Issuance of shares
|
|
34.9
|
|
|
34.9
|
|
|
2,907.4
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
2,942.3
|
|
||||||
Stock-based compensation
|
|
—
|
|
|
—
|
|
|
117.1
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
117.1
|
|
||||||
Tax benefit related to employees' and directors' stock plans
|
|
—
|
|
|
—
|
|
|
65.4
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
65.4
|
|
||||||
Dividends declared
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(240.8
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(240.8
|
)
|
||||||
Net income
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1,894.4
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1,894.4
|
|
||||||
Other comprehensive items
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(1,207.8
|
)
|
|
(1,207.8
|
)
|
||||||
Other
|
|
—
|
|
|
—
|
|
|
(0.2
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(0.2
|
)
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Balance at December 31, 2014
|
|
408.5
|
|
|
408.5
|
|
|
11,473.6
|
|
|
10,406.9
|
|
|
8.0
|
|
|
(455.9
|
)
|
|
(1,285.0
|
)
|
|
20,548.1
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Issuance of shares under employees' and directors' stock plans
|
|
3.4
|
|
|
3.4
|
|
|
139.4
|
|
|
—
|
|
|
0.4
|
|
|
(52.0
|
)
|
|
—
|
|
|
90.8
|
|
||||||
Stock-based compensation
|
|
—
|
|
|
—
|
|
|
125.0
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
125.0
|
|
||||||
Tax benefit related to employees' and directors' stock plans
|
|
—
|
|
|
—
|
|
|
63.2
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
63.2
|
|
||||||
Purchases of company common stock
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
3.9
|
|
|
(500.0
|
)
|
|
—
|
|
|
(500.0
|
)
|
||||||
Dividends declared
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(240.0
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(240.0
|
)
|
||||||
Net income
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1,975.4
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1,975.4
|
|
||||||
Other comprehensive items
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(712.3
|
)
|
|
(712.3
|
)
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Balance at December 31, 2015
|
|
411.9
|
|
|
411.9
|
|
|
11,801.2
|
|
|
12,142.3
|
|
|
12.3
|
|
|
(1,007.9
|
)
|
|
(1,997.3
|
)
|
|
21,350.2
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Issuance of shares under employees' and directors' stock plans
|
|
3.2
|
|
|
3.2
|
|
|
152.2
|
|
|
—
|
|
|
0.4
|
|
|
(48.1
|
)
|
|
—
|
|
|
107.3
|
|
||||||
Stock-based compensation
|
|
—
|
|
|
—
|
|
|
133.5
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
133.5
|
|
||||||
Tax benefit related to employees' and directors' stock plans
|
|
—
|
|
|
—
|
|
|
52.7
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
52.7
|
|
||||||
Purchases of company common stock
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
9.0
|
|
|
(1,250.0
|
)
|
|
—
|
|
|
(1,250.0
|
)
|
||||||
Dividends declared
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(237.2
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(237.2
|
)
|
||||||
Net income
|
|
—
|
|
|
—
|
|
|
—
|
|
|
2,021.8
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
2,021.8
|
|
||||||
Other comprehensive items
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(639.0
|
)
|
|
(639.0
|
)
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Balance at December 31, 2016
|
|
415.1
|
|
|
$
|
415.1
|
|
|
$
|
12,139.6
|
|
|
$
|
13,926.9
|
|
|
21.7
|
|
|
$
|
(2,306.0
|
)
|
|
$
|
(2,636.3
|
)
|
|
$
|
21,539.3
|
|
Note
1
.
|
Nature of Operations and Summary of Significant Accounting Policies
|
|
|
Year Ended December 31,
|
||||||||||
(In millions)
|
|
2016
|
|
|
2015
|
|
|
2014
|
|
|||
|
|
|
|
|
|
|
||||||
Beginning Balance
|
|
$
|
70.1
|
|
|
$
|
74.1
|
|
|
$
|
54.1
|
|
Provision charged to expense (a)
|
|
15.9
|
|
|
5.5
|
|
|
20.4
|
|
|||
Accounts recovered
|
|
0.2
|
|
|
0.2
|
|
|
1.0
|
|
|||
Accounts written off
|
|
(9.2
|
)
|
|
(4.8
|
)
|
|
(11.2
|
)
|
|||
Other (b)
|
|
0.3
|
|
|
(4.9
|
)
|
|
9.8
|
|
|||
|
|
|
|
|
|
|
||||||
Ending Balance
|
|
$
|
77.3
|
|
|
$
|
70.1
|
|
|
$
|
74.1
|
|
(a)
|
In 2016, includes
$8.5 million
of charges to conform the accounting policies of FEI with the company's accounting policies. In 2014, includes
$16.2 million
of charges to conform the accounting policies of Life Technologies with the company's accounting policies.
|
(b)
|
Includes allowance of businesses acquired and sold during the year as described in Note
2
and the effect of currency translation.
|
|
|
Year Ended
|
||||||
|
|
December 31,
|
|
|
December 31,
|
|
||
(In millions)
|
|
2016
|
|
|
2015
|
|
||
|
|
|
|
|
||||
Beginning Balance
|
|
$
|
55.8
|
|
|
$
|
57.5
|
|
Provision charged to income
|
|
96.2
|
|
|
85.4
|
|
||
Usage
|
|
(86.6
|
)
|
|
(82.1
|
)
|
||
Acquisitions
|
|
16.8
|
|
|
0.5
|
|
||
Adjustments to previously provided warranties, net
|
|
(2.5
|
)
|
|
(2.6
|
)
|
||
Currency translation
|
|
(1.8
|
)
|
|
(2.9
|
)
|
||
|
|
|
|
|
||||
Ending Balance
|
|
$
|
77.9
|
|
|
$
|
55.8
|
|
|
|
December 31,
|
|
|
December 31,
|
|
||
(In millions)
|
|
2016
|
|
|
2015
|
|
||
|
|
|
|
|
||||
Raw Materials
|
|
$
|
466.3
|
|
|
$
|
421.1
|
|
Work in Process
|
|
327.9
|
|
|
236.8
|
|
||
Finished Goods
|
|
1,419.1
|
|
|
1,333.8
|
|
||
|
|
|
|
|
||||
Inventories
|
|
$
|
2,213.3
|
|
|
$
|
1,991.7
|
|
|
|
December 31,
|
|
|
December 31,
|
|
||
(In millions)
|
|
2016
|
|
|
2015
|
|
||
|
|
|
|
|
||||
Land
|
|
$
|
305.6
|
|
|
$
|
276.4
|
|
Buildings and Improvements
|
|
1,154.2
|
|
|
1,050.5
|
|
||
Machinery, Equipment and Leasehold Improvements
|
|
2,955.7
|
|
|
2,786.8
|
|
||
|
|
|
|
|
||||
Property, Plant and Equipment, at Cost
|
|
4,415.5
|
|
|
4,113.7
|
|
||
Less: Accumulated Depreciation and Amortization
|
|
1,837.7
|
|
|
1,664.9
|
|
||
|
|
|
|
|
||||
Property, Plant and Equipment, Net
|
|
$
|
2,577.8
|
|
|
$
|
2,448.8
|
|
|
|
Balance at December 31, 2016
|
|
Balance at December 31, 2015
|
||||||||||||||||||||
(In millions)
|
|
Gross
|
|
|
Accumulated Amortization
|
|
|
Net
|
|
|
Gross
|
|
|
Accumulated Amortization
|
|
|
Net
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Definite Lived:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Customer relationships
|
|
$
|
13,167.3
|
|
|
$
|
(4,821.4
|
)
|
|
$
|
8,345.9
|
|
|
$
|
11,844.4
|
|
|
$
|
(4,086.9
|
)
|
|
$
|
7,757.5
|
|
Product technology
|
|
5,679.7
|
|
|
(2,204.2
|
)
|
|
3,475.5
|
|
|
4,799.8
|
|
|
(1,819.0
|
)
|
|
2,980.8
|
|
||||||
Tradenames
|
|
1,452.2
|
|
|
(646.0
|
)
|
|
806.2
|
|
|
1,316.7
|
|
|
(548.2
|
)
|
|
768.5
|
|
||||||
Other
|
|
33.0
|
|
|
(33.0
|
)
|
|
—
|
|
|
33.2
|
|
|
(33.0
|
)
|
|
0.2
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
|
20,332.2
|
|
|
(7,704.6
|
)
|
|
12,627.6
|
|
|
17,994.1
|
|
|
(6,487.1
|
)
|
|
11,507.0
|
|
||||||
Indefinite Lived:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Tradenames
|
|
1,234.8
|
|
|
—
|
|
|
1,234.8
|
|
|
1,234.8
|
|
|
—
|
|
|
1,234.8
|
|
||||||
In-process research and development
|
|
106.6
|
|
|
—
|
|
|
106.6
|
|
|
16.5
|
|
|
—
|
|
|
16.5
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
|
1,341.4
|
|
|
—
|
|
|
1,341.4
|
|
|
1,251.3
|
|
|
—
|
|
|
1,251.3
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Acquisition-related Intangible Assets
|
|
$
|
21,673.6
|
|
|
$
|
(7,704.6
|
)
|
|
$
|
13,969.0
|
|
|
$
|
19,245.4
|
|
|
$
|
(6,487.1
|
)
|
|
$
|
12,758.3
|
|
(In millions)
|
|
|
||
|
|
|
||
2017
|
|
$
|
1,465.7
|
|
2018
|
|
1,428.1
|
|
|
2019
|
|
1,397.1
|
|
|
2020
|
|
1,297.0
|
|
|
2021
|
|
1,199.6
|
|
|
2022 and Thereafter
|
|
5,840.1
|
|
|
|
|
|
||
Estimated Future Amortization Expense of Definite-lived Intangible Assets
|
|
$
|
12,627.6
|
|
(In millions)
|
|
Life Sciences
Solutions
|
|
|
Analytical
Instruments
|
|
|
Specialty
Diagnostics
|
|
|
Laboratory
Products and
Services
|
|
|
Total
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Balance at December 31, 2014
|
|
$
|
7,245.3
|
|
|
$
|
2,729.8
|
|
|
$
|
3,899.6
|
|
|
$
|
4,967.9
|
|
|
$
|
18,842.6
|
|
Acquisitions
|
|
125.1
|
|
|
1.7
|
|
|
4.7
|
|
|
120.8
|
|
|
252.3
|
|
|||||
Finalization of purchase price allocations for 2014 acquisitions
|
|
(3.3
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(3.3
|
)
|
|||||
Sale of a product line
|
|
(5.8
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(5.8
|
)
|
|||||
Currency translation
|
|
(80.4
|
)
|
|
(24.1
|
)
|
|
(132.8
|
)
|
|
(22.4
|
)
|
|
(259.7
|
)
|
|||||
Other
|
|
8.3
|
|
|
(4.9
|
)
|
|
(0.2
|
)
|
|
(1.7
|
)
|
|
1.5
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Balance at December 31, 2015
|
|
7,289.2
|
|
|
2,702.5
|
|
|
3,771.3
|
|
|
5,064.6
|
|
|
18,827.6
|
|
|||||
Acquisitions
|
|
633.1
|
|
|
2,059.0
|
|
|
0.8
|
|
|
—
|
|
|
2,692.9
|
|
|||||
Finalization of purchase price allocations for 2015 acquisitions
|
|
—
|
|
|
—
|
|
|
—
|
|
|
6.8
|
|
|
6.8
|
|
|||||
Currency translation
|
|
(3.1
|
)
|
|
(80.1
|
)
|
|
(108.1
|
)
|
|
(31.0
|
)
|
|
(222.3
|
)
|
|||||
Other
|
|
13.2
|
|
|
4.4
|
|
|
(5.0
|
)
|
|
10.2
|
|
|
22.8
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Balance at December 31, 2016
|
|
$
|
7,932.4
|
|
|
$
|
4,685.8
|
|
|
$
|
3,659.0
|
|
|
$
|
5,050.6
|
|
|
$
|
21,327.8
|
|
Note
2
.
|
Acquisitions and Dispositions
|
(In millions)
|
|
FEI
|
|
|
Affymetrix
|
|
|
Other
|
|
|
Total
|
|
||||
|
|
|
|
|
|
|
|
|
||||||||
Purchase Price
|
|
|
|
|
|
|
|
|
||||||||
Cash paid
|
|
$
|
4,440.4
|
|
|
$
|
1,165.0
|
|
|
$
|
29.5
|
|
|
$
|
5,634.9
|
|
Debt assumed
|
|
—
|
|
|
254.2
|
|
|
0.6
|
|
|
254.8
|
|
||||
Purchase price payable
|
|
10.8
|
|
|
0.5
|
|
|
2.7
|
|
|
14.0
|
|
||||
Cash acquired
|
|
(369.1
|
)
|
|
(77.9
|
)
|
|
(0.3
|
)
|
|
(447.3
|
)
|
||||
|
|
|
|
|
|
|
|
|
||||||||
|
|
$
|
4,082.1
|
|
|
$
|
1,341.8
|
|
|
$
|
32.5
|
|
|
$
|
5,456.4
|
|
|
|
|
|
|
|
|
|
|
||||||||
Net Assets Acquired
|
|
|
|
|
|
|
|
|
||||||||
Current assets
|
|
$
|
621.4
|
|
|
$
|
160.6
|
|
|
$
|
3.4
|
|
|
$
|
785.4
|
|
Property, plant and equipment
|
|
153.0
|
|
|
19.3
|
|
|
0.2
|
|
|
172.5
|
|
||||
Definite-lived intangible assets:
|
|
|
|
|
|
|
|
|
||||||||
Customer relationships
|
|
1,051.1
|
|
|
500.5
|
|
|
8.7
|
|
|
1,560.3
|
|
||||
Product technology
|
|
739.8
|
|
|
253.1
|
|
|
7.0
|
|
|
999.9
|
|
||||
Tradenames and other
|
|
130.0
|
|
|
45.5
|
|
|
—
|
|
|
175.5
|
|
||||
Indefinite-lived intangible assets:
|
|
|
|
|
|
|
|
|
||||||||
In-process research and development
|
|
104.7
|
|
|
14.4
|
|
|
—
|
|
|
119.1
|
|
||||
Goodwill
|
|
2,057.1
|
|
|
615.2
|
|
|
20.6
|
|
|
2,692.9
|
|
||||
Other assets
|
|
71.6
|
|
|
7.8
|
|
|
0.1
|
|
|
79.5
|
|
||||
Liabilities assumed
|
|
(846.6
|
)
|
|
(274.6
|
)
|
|
(7.5
|
)
|
|
(1,128.7
|
)
|
||||
|
|
|
|
|
|
|
|
|
||||||||
|
|
$
|
4,082.1
|
|
|
$
|
1,341.8
|
|
|
$
|
32.5
|
|
|
$
|
5,456.4
|
|
(In millions)
|
|
Alfa Aesar
|
|
|
Advanced Scientifics
|
|
|
Other
|
|
|
Total
|
|
||||
|
|
|
|
|
|
|
|
|
||||||||
Purchase Price
|
|
|
|
|
|
|
|
|
||||||||
Cash paid
|
|
$
|
393.0
|
|
|
$
|
289.1
|
|
|
$
|
18.5
|
|
|
$
|
700.6
|
|
Purchase price payable
|
|
—
|
|
|
—
|
|
|
1.3
|
|
|
1.3
|
|
||||
Cash acquired
|
|
(3.5
|
)
|
|
(0.3
|
)
|
|
(1.3
|
)
|
|
(5.1
|
)
|
||||
|
|
|
|
|
|
|
|
|
||||||||
|
|
$
|
389.5
|
|
|
$
|
288.8
|
|
|
$
|
18.5
|
|
|
$
|
696.8
|
|
|
|
|
|
|
|
|
|
|
||||||||
Net Assets Acquired
|
|
|
|
|
|
|
|
|
||||||||
Current assets
|
|
$
|
96.8
|
|
|
$
|
28.7
|
|
|
$
|
4.6
|
|
|
$
|
130.1
|
|
Property, plant and equipment
|
|
39.0
|
|
|
10.6
|
|
|
0.1
|
|
|
49.7
|
|
||||
Definite-lived intangible assets:
|
|
|
|
|
|
|
|
|
||||||||
Customer relationships
|
|
137.1
|
|
|
90.0
|
|
|
7.9
|
|
|
235.0
|
|
||||
Product technology
|
|
—
|
|
|
36.5
|
|
|
—
|
|
|
36.5
|
|
||||
Tradenames and other
|
|
15.6
|
|
|
2.3
|
|
|
—
|
|
|
17.9
|
|
||||
Goodwill
|
|
125.1
|
|
|
124.4
|
|
|
8.9
|
|
|
258.4
|
|
||||
Other assets
|
|
4.5
|
|
|
0.2
|
|
|
—
|
|
|
4.7
|
|
||||
Liabilities assumed
|
|
(28.6
|
)
|
|
(3.9
|
)
|
|
(3.0
|
)
|
|
(35.5
|
)
|
||||
|
|
|
|
|
|
|
|
|
||||||||
|
|
$
|
389.5
|
|
|
$
|
288.8
|
|
|
$
|
18.5
|
|
|
$
|
696.8
|
|
(In millions)
|
|
Life
Technologies
|
|
|
Other
|
|
|
Total
|
|
|||
|
|
|
|
|
|
|
||||||
Purchase Price
|
|
|
|
|
|
|
||||||
Cash paid
|
|
$
|
13,487.3
|
|
|
$
|
47.3
|
|
|
$
|
13,534.6
|
|
Debt assumed
|
|
2,279.5
|
|
|
—
|
|
|
2,279.5
|
|
|||
Cash acquired
|
|
(463.0
|
)
|
|
(11.5
|
)
|
|
(474.5
|
)
|
|||
|
|
|
|
|
|
|
||||||
|
|
$
|
15,303.8
|
|
|
$
|
35.8
|
|
|
$
|
15,339.6
|
|
|
|
|
|
|
|
|
||||||
Net Assets Acquired
|
|
|
|
|
|
|
|
|
|
|||
Current assets
|
|
$
|
1,755.5
|
|
|
$
|
18.5
|
|
|
$
|
1,774.0
|
|
Property, plant and equipment
|
|
748.1
|
|
|
1.1
|
|
|
749.2
|
|
|||
Definite-lived intangible assets:
|
|
|
|
|
|
|
|
|
|
|||
Customer relationships
|
|
5,883.0
|
|
|
7.0
|
|
|
5,890.0
|
|
|||
Product technology
|
|
2,626.9
|
|
|
5.5
|
|
|
2,632.4
|
|
|||
Tradenames and other
|
|
619.1
|
|
|
—
|
|
|
619.1
|
|
|||
Indefinite-lived intangible assets:
|
|
|
|
|
|
|
|
|
|
|||
In-process research and development
|
|
58.4
|
|
|
—
|
|
|
58.4
|
|
|||
Goodwill
|
|
7,167.0
|
|
|
12.5
|
|
|
7,179.5
|
|
|||
Other assets
|
|
246.7
|
|
|
0.1
|
|
|
246.8
|
|
|||
Liabilities assumed
|
|
(3,800.9
|
)
|
|
(8.9
|
)
|
|
(3,809.8
|
)
|
|||
|
|
|
|
|
|
|
||||||
|
|
$
|
15,303.8
|
|
|
$
|
35.8
|
|
|
$
|
15,339.6
|
|
(In millions except per share amounts)
|
|
2016
|
|
|
2015
|
|
||
|
|
|
|
|
||||
Revenues
|
|
$
|
18,988.4
|
|
|
$
|
18,230.0
|
|
|
|
|
|
|
||||
Income from Continuing Operations
|
|
$
|
2,045.8
|
|
|
$
|
1,688.8
|
|
|
|
|
|
|
||||
Net Income
|
|
$
|
2,042.3
|
|
|
$
|
1,683.9
|
|
|
|
|
|
|
||||
Earnings per Share from Continuing Operations:
|
|
|
|
|
||||
Basic
|
|
$
|
5.18
|
|
|
$
|
4.24
|
|
Diluted
|
|
$
|
5.15
|
|
|
$
|
4.20
|
|
|
|
|
|
|
||||
Earnings per Share:
|
|
|
|
|
||||
Basic
|
|
$
|
5.17
|
|
|
$
|
4.22
|
|
Diluted
|
|
$
|
5.14
|
|
|
$
|
4.19
|
|
•
|
Pre-tax charge to selling, general and administrative expenses of
$102 million
in 2015, for acquisition-related transaction costs incurred by the company, Affymetrix and FEI;
|
•
|
Pre-tax charge to cost of revenues of
$99 million
in 2015, for the sale of Affymetrix and FEI inventories revalued at the date of acquisition;
|
•
|
Pre-tax charge of
$46 million
in 2015, for initial restructuring charges incurred by the company relating to the Affymetrix and FEI acquisitions.
|
•
|
Pre-tax charge of
$33 million
in 2015, to conform the accounting policies of Affymetrix and FEI with the company’s accounting policies; and
|
•
|
Pre-tax reduction of revenues of
$6 million
and
$14 million
in 2016 and 2015, respectively, for revaluing the Affymetrix and FEI deferred revenue obligations to fair value.
|
|
|
June 28,
|
|
|
(In millions)
|
|
2014
|
|
|
|
|
|
||
Current Assets
|
|
$
|
39.5
|
|
Long-term Assets
|
|
400.3
|
|
|
Current Liabilities
|
|
15.5
|
|
|
Long-term Liabilities
|
|
84.1
|
|
Note
3
.
|
Business Segment and Geographical Information
|
(In millions)
|
|
2016
|
|
|
2015
|
|
|
2014
|
|
|||
|
|
|
|
|
|
|
||||||
Revenues
|
|
|
|
|
|
|
||||||
Life Sciences Solutions
|
|
$
|
4,978.1
|
|
|
$
|
4,439.4
|
|
|
$
|
4,195.7
|
|
Analytical Instruments
|
|
3,668.2
|
|
|
3,208.2
|
|
|
3,252.2
|
|
|||
Specialty Diagnostics
|
|
3,339.2
|
|
|
3,243.9
|
|
|
3,343.6
|
|
|||
Laboratory Products and Services
|
|
7,030.0
|
|
|
6,661.5
|
|
|
6,601.5
|
|
|||
Eliminations
|
|
(741.4
|
)
|
|
(587.6
|
)
|
|
(503.4
|
)
|
|||
|
|
|
|
|
|
|
||||||
Consolidated revenues
|
|
18,274.1
|
|
|
16,965.4
|
|
|
16,889.6
|
|
|||
|
|
|
|
|
|
|
||||||
Segment Income (a)
|
|
|
|
|
|
|
||||||
Life Sciences Solutions
|
|
1,514.7
|
|
|
1,336.9
|
|
|
1,214.9
|
|
|||
Analytical Instruments
|
|
745.2
|
|
|
612.8
|
|
|
581.1
|
|
|||
Specialty Diagnostics
|
|
909.8
|
|
|
872.9
|
|
|
916.0
|
|
|||
Laboratory Products and Services
|
|
1,052.1
|
|
|
999.1
|
|
|
982.8
|
|
|||
|
|
|
|
|
|
|
||||||
Subtotal reportable segments (a)
|
|
4,221.8
|
|
|
3,821.7
|
|
|
3,694.8
|
|
|||
|
|
|
|
|
|
|
||||||
Cost of revenues charges
|
|
(101.5
|
)
|
|
(9.1
|
)
|
|
(327.6
|
)
|
|||
Selling, general and administrative charges, net
|
|
(103.9
|
)
|
|
(46.3
|
)
|
|
(130.7
|
)
|
|||
Restructuring and other (costs) income, net
|
|
(189.2
|
)
|
|
(115.3
|
)
|
|
598.2
|
|
|||
Amortization of acquisition-related intangible assets
|
|
(1,378.0
|
)
|
|
(1,314.8
|
)
|
|
(1,331.7
|
)
|
|||
|
|
|
|
|
|
|
||||||
Consolidated operating income
|
|
2,449.2
|
|
|
2,336.2
|
|
|
2,503.0
|
|
|||
Other expense, net (b)
|
|
(425.3
|
)
|
|
(399.8
|
)
|
|
(415.8
|
)
|
|||
|
|
|
|
|
|
|
||||||
Income from continuing operations before income taxes
|
|
$
|
2,023.9
|
|
|
$
|
1,936.4
|
|
|
$
|
2,087.2
|
|
|
|
|
|
|
|
|
||||||
Depreciation
|
|
|
|
|
|
|
||||||
Life Sciences Solutions
|
|
$
|
141.4
|
|
|
$
|
146.3
|
|
|
$
|
131.6
|
|
Analytical Instruments
|
|
49.7
|
|
|
38.9
|
|
|
39.0
|
|
|||
Specialty Diagnostics
|
|
70.4
|
|
|
73.7
|
|
|
76.7
|
|
|||
Laboratory Products and Services
|
|
118.5
|
|
|
114.5
|
|
|
105.8
|
|
|||
|
|
|
|
|
|
|
||||||
Consolidated depreciation
|
|
$
|
380.0
|
|
|
$
|
373.4
|
|
|
$
|
353.1
|
|
(a)
|
Represents operating income before certain charges to cost of revenues and selling, general and administrative expenses; restructuring and other costs, net; and amortization of acquisition-related intangibles.
|
(b)
|
The company does not allocate other expense, net to its segments.
|
(In millions)
|
|
2016
|
|
|
2015
|
|
|
2014
|
|
|||
|
|
|
|
|
|
|
||||||
Total Assets
|
|
|
|
|
|
|
||||||
Life Sciences Solutions
|
|
$
|
18,454.3
|
|
|
$
|
17,884.3
|
|
|
$
|
19,257.0
|
|
Analytical Instruments
|
|
9,519.6
|
|
|
4,763.1
|
|
|
4,133.3
|
|
|||
Specialty Diagnostics
|
|
6,801.6
|
|
|
7,183.2
|
|
|
8,047.7
|
|
|||
Laboratory Products and Services
|
|
10,016.3
|
|
|
10,266.6
|
|
|
10,875.7
|
|
|||
Corporate/Other (c)
|
|
1,115.7
|
|
|
737.1
|
|
|
538.4
|
|
|||
|
|
|
|
|
|
|
||||||
Consolidated total assets
|
|
$
|
45,907.5
|
|
|
$
|
40,834.3
|
|
|
$
|
42,852.1
|
|
|
|
|
|
|
|
|
||||||
Capital Expenditures
|
|
|
|
|
|
|
||||||
Life Sciences Solutions
|
|
$
|
116.7
|
|
|
$
|
85.1
|
|
|
$
|
104.4
|
|
Analytical Instruments
|
|
34.0
|
|
|
59.5
|
|
|
38.1
|
|
|||
Specialty Diagnostics
|
|
72.3
|
|
|
75.9
|
|
|
84.7
|
|
|||
Laboratory Products and Services
|
|
116.8
|
|
|
97.7
|
|
|
102.1
|
|
|||
Corporate/Other
|
|
104.6
|
|
|
104.7
|
|
|
98.3
|
|
|||
|
|
|
|
|
|
|
||||||
Consolidated capital expenditures
|
|
$
|
444.4
|
|
|
$
|
422.9
|
|
|
$
|
427.6
|
|
(c)
|
Corporate assets consist primarily of cash and cash equivalents, short-term investments, property and equipment at the company's corporate offices.
|
(In millions)
|
|
2016
|
|
|
2015
|
|
|
2014
|
|
|||
|
|
|
|
|
|
|
||||||
Revenues
(d)
|
|
|
|
|
|
|
||||||
United States
|
|
$
|
9,085.6
|
|
|
$
|
8,607.3
|
|
|
$
|
8,147.7
|
|
China
|
|
1,729.6
|
|
|
1,376.4
|
|
|
1,223.1
|
|
|||
Germany
|
|
995.8
|
|
|
899.7
|
|
|
1,005.9
|
|
|||
United Kingdom
|
|
742.2
|
|
|
778.1
|
|
|
754.5
|
|
|||
Japan
|
|
737.3
|
|
|
611.1
|
|
|
672.8
|
|
|||
Other
|
|
4,983.6
|
|
|
4,692.8
|
|
|
5,085.6
|
|
|||
|
|
|
|
|
|
|
||||||
Consolidated revenues
|
|
$
|
18,274.1
|
|
|
$
|
16,965.4
|
|
|
$
|
16,889.6
|
|
|
|
|
|
|
|
|
||||||
Long-lived Assets
(e)
|
|
|
|
|
|
|
||||||
United States
|
|
$
|
1,630.2
|
|
|
$
|
1,532.0
|
|
|
$
|
1,501.7
|
|
United Kingdom
|
|
216.8
|
|
|
261.1
|
|
|
265.5
|
|
|||
Germany
|
|
157.6
|
|
|
169.4
|
|
|
170.3
|
|
|||
Other
|
|
573.2
|
|
|
486.3
|
|
|
489.0
|
|
|||
|
|
|
|
|
|
|
||||||
Consolidated long-lived assets
|
|
$
|
2,577.8
|
|
|
$
|
2,448.8
|
|
|
$
|
2,426.5
|
|
(d)
|
Revenues are attributed to countries based on customer location.
|
(e)
|
Includes property, plant and equipment, net.
|
Note
4
.
|
Other Expense, Net
|
(In millions)
|
|
2016
|
|
|
2015
|
|
|
2014
|
|
|||
|
|
|
|
|
|
|
||||||
Interest Income
|
|
$
|
48.4
|
|
|
$
|
30.6
|
|
|
$
|
47.7
|
|
Interest Expense
|
|
(469.6
|
)
|
|
(414.9
|
)
|
|
(479.9
|
)
|
|||
Other Items, Net
|
|
(4.1
|
)
|
|
(15.5
|
)
|
|
16.4
|
|
|||
|
|
|
|
|
|
|
||||||
Other Expense, Net
|
|
$
|
(425.3
|
)
|
|
$
|
(399.8
|
)
|
|
$
|
(415.8
|
)
|
Note
5
.
|
Stock-based Compensation Expense
|
(In millions)
|
|
2016
|
|
|
2015
|
|
|
2014
|
|
|||
|
|
|
|
|
|
|
||||||
Stock Option Awards
|
|
$
|
41.3
|
|
|
$
|
43.7
|
|
|
$
|
45.7
|
|
Restricted Unit Awards
|
|
92.2
|
|
|
81.3
|
|
|
71.4
|
|
|||
|
|
|
|
|
|
|
||||||
Total Stock-based Compensation Expense
|
|
$
|
133.5
|
|
|
$
|
125.0
|
|
|
$
|
117.1
|
|
|
|
2016
|
|
|
2015
|
|
|
2014
|
|
|
|
|
|
|
|
|
|||
Expected Stock Price Volatility
|
|
21
|
%
|
|
24
|
%
|
|
25
|
%
|
Risk Free Interest Rate
|
|
1.2
|
%
|
|
1.4
|
%
|
|
1.3
|
%
|
Expected Life of Options (years)
|
|
4.3
|
|
|
4.3
|
|
|
4.4
|
|
Expected Annual Dividend
|
|
0.5
|
%
|
|
0.5
|
%
|
|
0.5
|
%
|
|
|
Shares
(in millions)
|
|
|
Weighted Average Exercise Price
|
|
|
Weighted Average Remaining Contractual Term
(in years)
|
|
Aggregate Intrinsic
Value (a)
(in millions)
|
|
||
|
|
|
|
|
|
|
|
|
|||||
Outstanding at December 31, 2015
|
|
9.6
|
|
|
$
|
85.30
|
|
|
|
|
|
||
Granted
|
|
1.8
|
|
|
131.22
|
|
|
|
|
|
|||
Exercised
|
|
(2.2
|
)
|
|
62.55
|
|
|
|
|
|
|||
Canceled/Expired
|
|
(0.4
|
)
|
|
119.52
|
|
|
|
|
|
|||
|
|
|
|
|
|
|
|
|
|||||
|
|
|
|
|
|
|
|
|
|||||
Outstanding at December 31, 2016
|
|
8.8
|
|
|
$
|
98.69
|
|
|
3.9
|
|
|
||
|
|
|
|
|
|
|
|
|
|||||
Vested and Unvested Expected to Vest at December 31, 2016
|
|
8.5
|
|
|
$
|
97.50
|
|
|
3.8
|
|
$
|
371.7
|
|
|
|
|
|
|
|
|
|
|
|||||
Exercisable at December 31, 2016
|
|
4.6
|
|
|
$
|
75.05
|
|
|
2.7
|
|
$
|
307.1
|
|
(a)
|
Market price per share on
December 31, 2016
was
$141.10
. The intrinsic value is zero for options with exercise prices above the market price.
|
|
|
Units
(in thousands)
|
|
|
Weighted
Average
Grant-Date
Fair Value
|
|
|
|
|
|
|
|
|||
Unvested at December 31, 2015
|
|
1,561
|
|
|
$
|
113.64
|
|
Granted
|
|
786
|
|
|
131.01
|
|
|
Vested
|
|
(885
|
)
|
|
102.97
|
|
|
Forfeited
|
|
(125
|
)
|
|
125.52
|
|
|
|
|
|
|
|
|||
Unvested at December 31, 2016
|
|
1,337
|
|
|
$
|
129.80
|
|
Note
6
.
|
Pension and Other Postretirement Benefit Plans
|
|
|
Domestic Pension
Benefits
|
|
Non-U.S. Pension
Benefits
|
|
Postretirement
Benefits
|
||||||||||||||||||
(In millions)
|
|
2016
|
|
|
2015
|
|
|
2016
|
|
|
2015
|
|
|
2016
|
|
|
2015
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Change in Projected Benefit Obligations
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Benefit Obligation at Beginning of Year
|
|
$
|
1,213.1
|
|
|
$
|
1,291.1
|
|
|
$
|
1,036.0
|
|
|
$
|
1,075.4
|
|
|
$
|
48.8
|
|
|
$
|
55.3
|
|
Business combinations
|
|
33.4
|
|
|
—
|
|
|
1.2
|
|
|
52.7
|
|
|
—
|
|
|
—
|
|
||||||
Service costs
|
|
—
|
|
|
—
|
|
|
23.9
|
|
|
25.2
|
|
|
0.5
|
|
|
0.6
|
|
||||||
Interest costs
|
|
51.1
|
|
|
50.0
|
|
|
27.1
|
|
|
27.6
|
|
|
2.0
|
|
|
1.9
|
|
||||||
Settlements
|
|
—
|
|
|
—
|
|
|
(7.5
|
)
|
|
(7.4
|
)
|
|
—
|
|
|
—
|
|
||||||
Plan participants' contributions
|
|
—
|
|
|
—
|
|
|
4.5
|
|
|
4.6
|
|
|
1.3
|
|
|
1.3
|
|
||||||
Actuarial (gains) losses
|
|
29.8
|
|
|
(48.7
|
)
|
|
149.9
|
|
|
(39.1
|
)
|
|
1.4
|
|
|
(2.2
|
)
|
||||||
Benefits paid
|
|
(78.3
|
)
|
|
(79.3
|
)
|
|
(30.2
|
)
|
|
(29.6
|
)
|
|
(3.9
|
)
|
|
(5.4
|
)
|
||||||
Currency translation and other
|
|
—
|
|
|
—
|
|
|
(88.4
|
)
|
|
(73.4
|
)
|
|
—
|
|
|
(2.7
|
)
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Benefit Obligation at End of Year
|
|
$
|
1,249.1
|
|
|
$
|
1,213.1
|
|
|
$
|
1,116.5
|
|
|
$
|
1,036.0
|
|
|
$
|
50.1
|
|
|
$
|
48.8
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Change in Fair Value of Plan Assets
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Fair Value of Plan Assets at Beginning of Year
|
|
$
|
945.4
|
|
|
$
|
1,047.6
|
|
|
$
|
817.2
|
|
|
$
|
825.8
|
|
|
$
|
7.5
|
|
|
$
|
8.6
|
|
Business combinations
|
|
—
|
|
|
—
|
|
|
—
|
|
|
32.1
|
|
|
—
|
|
|
—
|
|
||||||
Actual return on plan assets
|
|
70.8
|
|
|
(28.3
|
)
|
|
124.8
|
|
|
12.4
|
|
|
0.5
|
|
|
(1.1
|
)
|
||||||
Employer contribution
|
|
6.4
|
|
|
5.4
|
|
|
49.5
|
|
|
28.0
|
|
|
2.7
|
|
|
4.1
|
|
||||||
Settlements
|
|
—
|
|
|
—
|
|
|
(7.5
|
)
|
|
(7.4
|
)
|
|
—
|
|
|
—
|
|
||||||
Plan participants' contributions
|
|
—
|
|
|
—
|
|
|
4.5
|
|
|
4.6
|
|
|
1.3
|
|
|
1.3
|
|
||||||
Benefits paid
|
|
(78.3
|
)
|
|
(79.3
|
)
|
|
(30.2
|
)
|
|
(29.6
|
)
|
|
(3.9
|
)
|
|
(5.4
|
)
|
||||||
Currency translation and other
|
|
—
|
|
|
—
|
|
|
(104.8
|
)
|
|
(48.7
|
)
|
|
—
|
|
|
—
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Fair Value of Plan Assets at End of Year
|
|
$
|
944.3
|
|
|
$
|
945.4
|
|
|
$
|
853.5
|
|
|
$
|
817.2
|
|
|
$
|
8.1
|
|
|
$
|
7.5
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Funded Status
|
|
$
|
(304.8
|
)
|
|
$
|
(267.7
|
)
|
|
$
|
(263.0
|
)
|
|
$
|
(218.8
|
)
|
|
$
|
(42.0
|
)
|
|
$
|
(41.3
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Accumulated Benefit Obligation
|
|
$
|
1,249.1
|
|
|
$
|
1,213.1
|
|
|
$
|
1,047.8
|
|
|
$
|
983.4
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Amounts Recognized in Balance Sheet
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Non-current asset
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
62.7
|
|
|
$
|
72.7
|
|
|
$
|
4.3
|
|
|
$
|
3.8
|
|
Current liability
|
|
(9.8
|
)
|
|
(2.9
|
)
|
|
(5.7
|
)
|
|
(5.7
|
)
|
|
(2.7
|
)
|
|
(2.6
|
)
|
||||||
Non-current liability
|
|
(295.0
|
)
|
|
(264.8
|
)
|
|
(320.0
|
)
|
|
(285.8
|
)
|
|
(43.6
|
)
|
|
(42.5
|
)
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Net amount recognized
|
|
$
|
(304.8
|
)
|
|
$
|
(267.7
|
)
|
|
$
|
(263.0
|
)
|
|
$
|
(218.8
|
)
|
|
$
|
(42.0
|
)
|
|
$
|
(41.3
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Amounts Recognized in Accumulated Other Comprehensive Loss
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Net actuarial loss
|
|
$
|
171.3
|
|
|
$
|
163.0
|
|
|
$
|
169.6
|
|
|
$
|
133.1
|
|
|
$
|
5.8
|
|
|
$
|
4.7
|
|
Prior service credits
|
|
—
|
|
|
—
|
|
|
7.9
|
|
|
(1.6
|
)
|
|
(0.1
|
)
|
|
(0.2
|
)
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Net amount recognized
|
|
$
|
171.3
|
|
|
$
|
163.0
|
|
|
$
|
177.5
|
|
|
$
|
131.5
|
|
|
$
|
5.7
|
|
|
$
|
4.5
|
|
|
|
Pension Plans
|
||||||
(In millions)
|
|
2016
|
|
|
2015
|
|
||
|
|
|
|
|
||||
Pension Plans with Projected Benefit Obligations in Excess of Plan Assets
|
|
|
|
|
||||
Projected benefit obligation
|
|
$
|
1,906.6
|
|
|
$
|
1,739.2
|
|
Fair value of plan assets
|
|
1,276.1
|
|
|
1,180.0
|
|
|
|
Pension Plans
|
||||||
(In millions)
|
|
2016
|
|
|
2015
|
|
||
|
|
|
|
|
||||
Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets
|
|
|
|
|
||||
Accumulated benefit obligation
|
|
$
|
1,846.7
|
|
|
$
|
1,694.3
|
|
Fair value of plan assets
|
|
1,275.7
|
|
|
1,179.7
|
|
(In millions)
|
|
Domestic
Pension
Benefits
|
|
|
Non-U.S.
Pension
Benefits
|
|
|
Post-
retirement
Benefits
|
|
|||
|
|
|
|
|
|
|
||||||
Expected Benefit Payments
|
|
|
|
|
|
|
||||||
2017
|
|
$
|
85.9
|
|
|
$
|
28.6
|
|
|
$
|
3.0
|
|
2018
|
|
81.6
|
|
|
37.5
|
|
|
3.0
|
|
|||
2019
|
|
81.3
|
|
|
30.8
|
|
|
2.9
|
|
|||
2020
|
|
81.2
|
|
|
32.9
|
|
|
2.9
|
|
|||
2021
|
|
82.1
|
|
|
33.3
|
|
|
2.8
|
|
|||
2022-2026
|
|
393.7
|
|
|
192.7
|
|
|
12.7
|
|
|
|
December 31,
|
|
|
Quoted Prices
in Active
Markets
|
|
|
Significant
Other
Observable
Inputs
|
|
|
Significant
Unobservable
Inputs
|
|
|
Not Subject to Leveling (1)
|
|
|||||
(In millions)
|
|
2016
|
|
|
(Level 1)
|
|
|
(Level 2)
|
|
|
(Level 3)
|
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Domestic Pension Plan Assets
|
|
|
|
|
|
|
|
|
|
|
||||||||||
U.S. equity funds
|
|
$
|
259.0
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
259.0
|
|
International equity funds
|
|
229.5
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
229.5
|
|
|||||
Fixed income funds
|
|
436.9
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
436.9
|
|
|||||
Private equity funds
|
|
1.9
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1.9
|
|
|||||
Money market funds
|
|
17.0
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
17.0
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Total Domestic Pension Plans
|
|
$
|
944.3
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
944.3
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Non-U.S. Pension Plan Assets
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Equity funds
|
|
$
|
123.2
|
|
|
$
|
56.5
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
66.7
|
|
Fixed income funds
|
|
294.0
|
|
|
19.6
|
|
|
215.9
|
|
|
—
|
|
|
58.5
|
|
|||||
Hedge funds
|
|
80.1
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
80.1
|
|
|||||
Multi-asset funds
|
|
12.4
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
12.4
|
|
|||||
Derivative funds
|
|
157.7
|
|
|
—
|
|
|
157.7
|
|
|
—
|
|
|
—
|
|
|||||
Insurance contracts
|
|
177.3
|
|
|
—
|
|
|
177.3
|
|
|
—
|
|
|
—
|
|
|||||
Cash / money market funds
|
|
8.8
|
|
|
6.4
|
|
|
—
|
|
|
—
|
|
|
2.4
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Total Non-U.S. Pension Plans
|
|
$
|
853.5
|
|
|
$
|
82.5
|
|
|
$
|
550.9
|
|
|
$
|
—
|
|
|
$
|
220.1
|
|
(1) Investments measured at the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy.
|
Note
7
.
|
Income Taxes
|
(In millions)
|
|
2016
|
|
|
2015
|
|
|
2014
|
|
|||
|
|
|
|
|
|
|
||||||
U.S.
|
|
$
|
493.2
|
|
|
$
|
851.7
|
|
|
$
|
1,153.3
|
|
Non-U.S.
|
|
1,530.7
|
|
|
1,084.7
|
|
|
933.9
|
|
|||
|
|
|
|
|
|
|
||||||
Income from Continuing Operations
|
|
$
|
2,023.9
|
|
|
$
|
1,936.4
|
|
|
$
|
2,087.2
|
|
(In millions)
|
|
2016
|
|
|
2015
|
|
|
2014
|
|
|||
|
|
|
|
|
|
|
||||||
Current Income Tax Provision
|
|
|
|
|
|
|
||||||
Federal
|
|
$
|
279.9
|
|
|
$
|
184.4
|
|
|
$
|
444.5
|
|
Non-U.S.
|
|
348.7
|
|
|
362.7
|
|
|
404.8
|
|
|||
State
|
|
9.3
|
|
|
8.5
|
|
|
35.0
|
|
|||
|
|
|
|
|
|
|
||||||
|
|
637.9
|
|
|
555.6
|
|
|
884.3
|
|
|||
|
|
|
|
|
|
|
||||||
Deferred Income Tax Provision (Benefit)
|
|
|
|
|
|
|
||||||
Federal
|
|
$
|
(510.1
|
)
|
|
$
|
(296.4
|
)
|
|
$
|
(362.4
|
)
|
Non-U.S.
|
|
(103.9
|
)
|
|
(288.2
|
)
|
|
(297.3
|
)
|
|||
State
|
|
(25.3
|
)
|
|
(14.9
|
)
|
|
(32.9
|
)
|
|||
|
|
|
|
|
|
|
||||||
|
|
(639.3
|
)
|
|
(599.5
|
)
|
|
(692.6
|
)
|
|||
|
|
|
|
|
|
|
||||||
(Benefit from) Provision for income taxes
|
|
$
|
(1.4
|
)
|
|
$
|
(43.9
|
)
|
|
$
|
191.7
|
|
(In millions)
|
|
2016
|
|
|
2015
|
|
|
2014
|
|
|||
|
|
|
|
|
|
|
||||||
Provision for Income Taxes at Statutory Rate
|
|
$
|
708.4
|
|
|
$
|
677.7
|
|
|
$
|
730.5
|
|
|
|
|
|
|
|
|
||||||
Increases (Decreases) Resulting From:
|
|
|
|
|
|
|
||||||
Foreign rate differential
|
|
(321.7
|
)
|
|
(274.5
|
)
|
|
(278.4
|
)
|
|||
Income tax credits
|
|
(318.2
|
)
|
|
(316.4
|
)
|
|
(239.9
|
)
|
|||
Manufacturing deduction
|
|
(37.9
|
)
|
|
(37.9
|
)
|
|
(45.9
|
)
|
|||
Singapore tax holiday
|
|
(22.7
|
)
|
|
(20.8
|
)
|
|
(34.0
|
)
|
|||
Impact of change in tax laws and apportionment on deferred taxes
|
|
1.5
|
|
|
(37.5
|
)
|
|
(21.0
|
)
|
|||
Nondeductible expenses
|
|
12.3
|
|
|
9.4
|
|
|
23.4
|
|
|||
Provision (reversal) of tax reserves, net
|
|
11.9
|
|
|
18.0
|
|
|
28.0
|
|
|||
Basis difference on disposal of businesses
|
|
21.8
|
|
|
—
|
|
|
18.7
|
|
|||
Tax return reassessments and settlements
|
|
(41.0
|
)
|
|
(53.5
|
)
|
|
(3.6
|
)
|
|||
State income taxes, net of federal tax
|
|
(15.9
|
)
|
|
(7.4
|
)
|
|
9.3
|
|
|||
Other, net
|
|
0.1
|
|
|
(1.0
|
)
|
|
4.6
|
|
|||
|
|
|
|
|
|
|
||||||
(Benefit from) Provision for income taxes
|
|
$
|
(1.4
|
)
|
|
$
|
(43.9
|
)
|
|
$
|
191.7
|
|
(In millions)
|
|
2016
|
|
|
2015
|
|
||
|
|
|
|
|
||||
Deferred Tax Asset (Liability)
|
|
|
|
|
||||
Depreciation and amortization
|
|
$
|
(4,218.6
|
)
|
|
$
|
(4,024.8
|
)
|
Net operating loss and credit carryforwards
|
|
1,453.3
|
|
|
1,083.3
|
|
||
Reserves and accruals
|
|
191.6
|
|
|
185.9
|
|
||
Accrued compensation
|
|
371.5
|
|
|
312.9
|
|
||
Foreign undistributed earnings
|
|
(156.2
|
)
|
|
—
|
|
||
Inventory basis difference
|
|
110.4
|
|
|
83.3
|
|
||
Other capitalized costs
|
|
83.9
|
|
|
167.9
|
|
||
Unrealized losses on hedging instruments
|
|
36.3
|
|
|
16.6
|
|
||
Other, net
|
|
65.9
|
|
|
69.1
|
|
||
|
|
|
|
|
||||
Deferred tax assets (liabilities), net before valuation allowance
|
|
(2,061.9
|
)
|
|
(2,105.8
|
)
|
||
Less: Valuation allowance
|
|
113.0
|
|
|
108.9
|
|
||
|
|
|
|
|
||||
Deferred tax assets (liabilities), net
|
|
$
|
(2,174.9
|
)
|
|
$
|
(2,214.7
|
)
|
(In millions)
|
|
2016
|
|
|
2015
|
|
|
2014
|
|
|||
|
|
|
|
|
|
|
||||||
Balance at beginning of year
|
|
$
|
349.7
|
|
|
$
|
214.1
|
|
|
$
|
134.2
|
|
Additions due to acquisitions
|
|
54.2
|
|
|
—
|
|
|
54.3
|
|
|||
Additions for tax positions of current year
|
|
341.6
|
|
|
14.0
|
|
|
35.3
|
|
|||
Additions for tax positions of prior years
|
|
94.1
|
|
|
121.2
|
|
|
38.3
|
|
|||
Closure of tax years
|
|
(28.1
|
)
|
|
(5.2
|
)
|
|
—
|
|
|||
Settlements
|
|
(9.8
|
)
|
|
5.6
|
|
|
(48.0
|
)
|
|||
|
|
|
|
|
|
|
||||||
Balance at end of year
|
|
$
|
801.7
|
|
|
$
|
349.7
|
|
|
$
|
214.1
|
|
Note
8
.
|
Earnings per Share
|
(In millions except per share amounts)
|
|
2016
|
|
|
2015
|
|
|
2014
|
|
|||
|
|
|
|
|
|
|
||||||
Income from Continuing Operations
|
|
$
|
2,025.3
|
|
|
$
|
1,980.3
|
|
|
$
|
1,895.5
|
|
Loss from Discontinued Operations
|
|
(3.5
|
)
|
|
(4.9
|
)
|
|
(1.1
|
)
|
|||
|
|
|
|
|
|
|
||||||
Net Income
|
|
$
|
2,021.8
|
|
|
$
|
1,975.4
|
|
|
$
|
1,894.4
|
|
|
|
|
|
|
|
|
||||||
Basic Weighted Average Shares
|
|
394.8
|
|
|
398.7
|
|
|
398.2
|
|
|||
Plus Effect of:
|
|
|
|
|
|
|
||||||
Equity forward arrangement
|
|
—
|
|
|
—
|
|
|
0.2
|
|
|||
Stock options and restricted units
|
|
2.6
|
|
|
3.2
|
|
|
3.9
|
|
|||
|
|
|
|
|
|
|
||||||
Diluted Weighted Average Shares
|
|
397.4
|
|
|
401.9
|
|
|
402.3
|
|
|||
|
|
|
|
|
|
|
||||||
Basic Earnings per Share:
|
|
|
|
|
|
|
||||||
Continuing operations
|
|
$
|
5.13
|
|
|
$
|
4.97
|
|
|
$
|
4.76
|
|
Discontinued operations
|
|
(0.01
|
)
|
|
(0.01
|
)
|
|
—
|
|
|||
|
|
|
|
|
|
|
||||||
Basic Earnings per Share
|
|
$
|
5.12
|
|
|
$
|
4.96
|
|
|
$
|
4.76
|
|
|
|
|
|
|
|
|
||||||
Diluted Earnings per Share:
|
|
|
|
|
|
|
||||||
Continuing operations
|
|
$
|
5.10
|
|
|
$
|
4.93
|
|
|
$
|
4.71
|
|
Discontinued operations
|
|
(0.01
|
)
|
|
(0.01
|
)
|
|
—
|
|
|||
|
|
|
|
|
|
|
||||||
Diluted Earnings per Share
|
|
$
|
5.09
|
|
|
$
|
4.92
|
|
|
$
|
4.71
|
|
Note
9
.
|
Debt and Other Financing Arrangements
|
|
|
Effective Interest Rate at December 31,
|
|
|
December 31,
|
|
|
December 31,
|
|
||
(Dollars in millions)
|
|
2016
|
|
|
2016
|
|
|
2015
|
|
||
|
|
|
|
|
|
|
|||||
Commercial Paper
|
|
0.15
|
%
|
|
$
|
953.3
|
|
|
$
|
49.6
|
|
Term Loan
|
|
1.96
|
%
|
|
825.0
|
|
|
—
|
|
||
2.25% 5-Year Senior Notes, Due 8/15/2016
|
|
|
|
|
—
|
|
|
1,000.0
|
|
||
1.30% 3-Year Senior Notes, Due 2/1/2017
|
|
|
|
|
—
|
|
|
900.0
|
|
||
1.85% 5-Year Senior Notes, Due 1/15/2018
|
|
2.01
|
%
|
|
500.0
|
|
|
500.0
|
|
||
Floating Rate 2-Year Senior Notes, Due 8/9/2018 (euro-denominated)
|
|
0.14
|
%
|
|
631.0
|
|
|
—
|
|
||
2.15% 3-Year Senior Notes, Due 12/14/2018
|
|
2.35
|
%
|
|
450.0
|
|
|
450.0
|
|
||
2.40% 5-Year Senior Notes, Due 2/1/2019
|
|
2.59
|
%
|
|
900.0
|
|
|
900.0
|
|
||
6.00% 10-Year Senior Notes, Due 3/1/2020
|
|
2.97
|
%
|
|
750.0
|
|
|
750.0
|
|
||
4.70% 10-Year Senior Notes, Due 5/1/2020
|
|
4.23
|
%
|
|
300.0
|
|
|
300.0
|
|
||
1.50% 5-Year Senior Notes, Due 12/1/2020 (euro-denominated)
|
|
1.62
|
%
|
|
447.0
|
|
|
461.6
|
|
||
5.00% 10-Year Senior Notes, Due 1/15/2021
|
|
3.24
|
%
|
|
400.0
|
|
|
400.0
|
|
||
4.50% 10-Year Senior Notes, Due 3/1/2021
|
|
4.33
|
%
|
|
1,000.0
|
|
|
1,000.0
|
|
||
3.60% 10-Year Senior Notes, Due 8/15/2021
|
|
4.15
|
%
|
|
1,100.0
|
|
|
1,100.0
|
|
||
3.30% 7-Year Senior Notes, Due 2/15/2022
|
|
3.43
|
%
|
|
800.0
|
|
|
800.0
|
|
||
2.15% 7-Year Senior Notes, Due 7/21/2022 (euro-denominated)
|
|
2.27
|
%
|
|
525.9
|
|
|
543.1
|
|
||
3.15% 10-Year Senior Notes, Due 1/15/2023
|
|
3.31
|
%
|
|
800.0
|
|
|
800.0
|
|
||
3.00% 7-Year Senior Notes Due 4/15/2023
|
|
4.37
|
%
|
|
1,000.0
|
|
|
—
|
|
||
4.15% 10-Year Senior Notes, Due 2/1/2024
|
|
4.16
|
%
|
|
1,000.0
|
|
|
1,000.0
|
|
||
0.75% 8-Year Senior Notes, Due 9/12/2024 (euro-denominated)
|
|
0.93
|
%
|
|
1,051.7
|
|
|
—
|
|
||
2.00% 10-Year Senior Notes, Due 4/15/2025 (euro-denominated)
|
|
2.09
|
%
|
|
673.1
|
|
|
695.2
|
|
||
3.65% 10-Year Senior Notes, Due 12/15/2025
|
|
3.77
|
%
|
|
350.0
|
|
|
350.0
|
|
||
2.95% 10-Year Senior Notes, Due 9/19/2026
|
|
3.19
|
%
|
|
1,200.0
|
|
|
—
|
|
||
1.375% 12-Year Senior Notes, 9/12/2028 (euro-denominated)
|
|
1.46
|
%
|
|
631.0
|
|
|
—
|
|
||
5.30% 30-Year Senior Notes, Due 2/1/2044
|
|
5.37
|
%
|
|
400.0
|
|
|
400.0
|
|
||
Other
|
|
|
|
13.0
|
|
|
16.3
|
|
|||
|
|
|
|
|
|
|
|||||
Total Borrowings at Par Value
|
|
|
|
16,701.0
|
|
|
12,415.8
|
|
|||
Fair Value Hedge Accounting Adjustments
|
|
|
|
(49.3
|
)
|
|
6.2
|
|
|||
Unamortized Premium, Net
|
|
|
|
52.2
|
|
|
104.7
|
|
|||
Unamortized Debt Issuance Costs
|
|
|
|
(76.0
|
)
|
|
(54.7
|
)
|
|||
|
|
|
|
|
|
|
|||||
Total Borrowings at Carrying Value
|
|
|
|
16,627.9
|
|
|
12,472.0
|
|
|||
Less: Short-term Obligations and Current Maturities
|
|
|
|
1,255.5
|
|
|
1,051.8
|
|
|||
|
|
|
|
|
|
|
|||||
Long-term Obligations
|
|
|
|
$
|
15,372.4
|
|
|
$
|
11,420.2
|
|
(In millions)
|
|
|
||
|
|
|
||
2017
|
|
$
|
1,255.5
|
|
2018
|
|
1,983.3
|
|
|
2019
|
|
1,026.9
|
|
|
2020
|
|
1,498.9
|
|
|
2021
|
|
2,502.0
|
|
|
2022 and Thereafter
|
|
8,434.4
|
|
|
|
|
|
||
|
|
$
|
16,701.0
|
|
|
|
Aggregate Notional Amount
|
|
|
|
|
Pay Rate as of
|
|
|
|
|
(Dollars in millions)
|
|
|
Pay Rate
|
|
December 31,
2016 |
|
|
Receive Rate
|
|
||
|
|
|
|
|
|
|
|
|
|||
4.50% Senior Notes due 2021
|
|
1,000.0
|
|
|
1-month LIBOR + 3.4420%
|
|
4.0587
|
%
|
|
4.50
|
%
|
3.60% Senior Notes due 2021
|
|
1,100.0
|
|
|
1-month LIBOR + 2.5150%
|
|
3.2189
|
%
|
|
3.60
|
%
|
3.00% Senior Notes due 2023
|
|
1,000.0
|
|
|
1-month LIBOR + 1.7640%
|
|
2.4679
|
%
|
|
3.00
|
%
|
Note
10
.
|
Commitments and Contingencies
|
(In millions)
|
|
|
||
|
|
|
||
2017
|
|
$
|
163.7
|
|
2018
|
|
132.6
|
|
|
2019
|
|
103.0
|
|
|
2020
|
|
79.5
|
|
|
2021
|
|
60.2
|
|
|
2022 and Thereafter
|
|
176.5
|
|
|
|
|
|
||
|
|
$
|
715.5
|
|
Note
11
.
|
Comprehensive Income and Shareholders' Equity
|
(In millions)
|
|
Currency
Translation
Adjustment
|
|
|
Unrealized
Gains on
Available-for-
Sale
Investments
|
|
|
Unrealized
Losses on
Hedging
Instruments
|
|
|
Pension and
Other
Postretirement
Benefit
Liability
Adjustment
|
|
|
Total
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Balance at December 31, 2015
|
|
$
|
(1,776.7
|
)
|
|
$
|
1.8
|
|
|
$
|
(26.6
|
)
|
|
$
|
(195.8
|
)
|
|
$
|
(1,997.3
|
)
|
Other comprehensive income (loss) before reclassifications
|
|
(566.7
|
)
|
|
(1.6
|
)
|
|
(36.6
|
)
|
|
(46.9
|
)
|
|
(651.8
|
)
|
|||||
Amounts reclassified from accumulated other comprehensive items
|
|
—
|
|
|
0.7
|
|
|
6.1
|
|
|
6.0
|
|
|
12.8
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Net other comprehensive items
|
|
(566.7
|
)
|
|
(0.9
|
)
|
|
(30.5
|
)
|
|
(40.9
|
)
|
|
(639.0
|
)
|
|||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Balance at December 31, 2016
|
|
$
|
(2,343.4
|
)
|
|
$
|
0.9
|
|
|
$
|
(57.1
|
)
|
|
$
|
(236.7
|
)
|
|
$
|
(2,636.3
|
)
|
Note
12
.
|
Fair Value Measurements and Fair Value of Financial Instruments
|
|
|
December 31,
|
|
|
Quoted
Prices in
Active
Markets
|
|
|
Significant
Other
Observable
Inputs
|
|
|
Significant
Unobservable
Inputs
|
|
||||
(In millions)
|
|
2016
|
|
|
(Level 1)
|
|
|
(Level 2)
|
|
|
(Level 3)
|
|
||||
|
|
|
|
|
|
|
|
|
||||||||
Assets
|
|
|
|
|
|
|
|
|
||||||||
Cash equivalents
|
|
$
|
64.8
|
|
|
$
|
64.8
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Bank time deposits
|
|
2.0
|
|
|
2.0
|
|
|
—
|
|
|
—
|
|
||||
Investments in mutual funds and other similar instruments
|
|
15.5
|
|
|
15.5
|
|
|
—
|
|
|
—
|
|
||||
Warrants
|
|
2.0
|
|
|
—
|
|
|
2.0
|
|
|
—
|
|
||||
Insurance contracts
|
|
102.1
|
|
|
—
|
|
|
102.1
|
|
|
—
|
|
||||
Derivative contracts
|
|
15.8
|
|
|
—
|
|
|
15.8
|
|
|
—
|
|
||||
|
|
|
|
|
|
|
|
|
||||||||
Total Assets
|
|
$
|
202.2
|
|
|
$
|
82.3
|
|
|
$
|
119.9
|
|
|
$
|
—
|
|
|
|
|
|
|
|
|
|
|
||||||||
Liabilities
|
|
|
|
|
|
|
|
|
||||||||
Derivative contracts
|
|
$
|
121.9
|
|
|
$
|
—
|
|
|
$
|
121.9
|
|
|
$
|
—
|
|
Contingent consideration
|
|
3.4
|
|
|
—
|
|
|
—
|
|
|
3.4
|
|
||||
|
|
|
|
|
|
|
|
|
||||||||
Total Liabilities
|
|
$
|
125.3
|
|
|
$
|
—
|
|
|
$
|
121.9
|
|
|
$
|
3.4
|
|
|
|
December 31,
|
|
|
Quoted
Prices in
Active
Markets
|
|
|
Significant
Other
Observable
Inputs
|
|
|
Significant
Unobservable
Inputs
|
|
||||
(In millions)
|
|
2015
|
|
|
(Level 1)
|
|
|
(Level 2)
|
|
|
(Level 3)
|
|
||||
|
|
|
|
|
|
|
|
|
||||||||
Assets
|
|
|
|
|
|
|
|
|
||||||||
Cash equivalents
|
|
$
|
54.6
|
|
|
$
|
54.6
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Bank time deposits
|
|
2.0
|
|
|
2.0
|
|
|
—
|
|
|
—
|
|
||||
Investments in mutual funds and other similar instruments
|
|
7.6
|
|
|
7.6
|
|
|
—
|
|
|
—
|
|
||||
Warrants
|
|
3.4
|
|
|
—
|
|
|
3.4
|
|
|
—
|
|
||||
Insurance contracts
|
|
108.1
|
|
|
—
|
|
|
108.1
|
|
|
—
|
|
||||
Derivative contracts
|
|
13.8
|
|
|
—
|
|
|
13.8
|
|
|
—
|
|
||||
|
|
|
|
|
|
|
|
|
||||||||
Total Assets
|
|
$
|
189.5
|
|
|
$
|
64.2
|
|
|
$
|
125.3
|
|
|
$
|
—
|
|
|
|
|
|
|
|
|
|
|
||||||||
Liabilities
|
|
|
|
|
|
|
|
|
||||||||
Derivative contracts
|
|
$
|
41.8
|
|
|
$
|
—
|
|
|
$
|
41.8
|
|
|
$
|
—
|
|
Contingent consideration
|
|
1.9
|
|
|
—
|
|
|
—
|
|
|
1.9
|
|
||||
|
|
|
|
|
|
|
|
|
||||||||
Total Liabilities
|
|
$
|
43.7
|
|
|
$
|
—
|
|
|
$
|
41.8
|
|
|
$
|
1.9
|
|
|
|
Fair Value – Assets
|
|
Fair Value – Liabilities
|
||||||||||||
|
|
December 31,
|
|
|
December 31,
|
|
|
December 31,
|
|
|
December 31,
|
|
||||
(In millions)
|
|
2016
|
|
|
2015
|
|
|
2016
|
|
|
2015
|
|
||||
|
|
|
|
|
|
|
|
|
||||||||
Derivatives Designated as Hedging Instruments
|
|
|
|
|
|
|
|
|||||||||
Interest rate swaps (a)
|
|
$
|
—
|
|
|
$
|
0.2
|
|
|
$
|
109.5
|
|
|
$
|
16.4
|
|
Derivatives Not Designated as Hedging Instruments
|
|
|
|
|
|
|
|
|||||||||
Currency exchange contracts (b)
|
|
15.8
|
|
|
13.6
|
|
|
12.4
|
|
|
25.4
|
|
(a)
|
The fair value of the interest rate swaps is included in the consolidated balance sheet under the captions other assets or other long-term liabilities.
|
(b)
|
The fair value of the currency exchange contracts is included in the consolidated balance sheet under the captions other current assets or other accrued expenses.
|
|
|
Gain (Loss) Recognized
|
||||||
(In millions)
|
|
2016
|
|
|
2015
|
|
||
|
|
|
|
|
||||
Derivatives Designated as Fair Value Hedges
|
|
|
|
|
||||
Interest rate swaps - effective portion
|
|
$
|
21.1
|
|
|
$
|
34.0
|
|
Interest rate swaps - ineffective portion (a)
|
|
(0.7
|
)
|
|
(7.4
|
)
|
||
Derivatives Not Designated as Hedging Instruments
|
|
|
|
|
||||
Currency exchange contracts
|
|
|
|
|
||||
Included in cost of revenues
|
|
$
|
(15.1
|
)
|
|
$
|
12.4
|
|
Included in other expense, net
|
|
(98.9
|
)
|
|
126.8
|
|
(a)
|
The ineffective portion of the loss recognized on interest rate swaps during 2015 includes
$7.5 million
of costs associated with entering into the swap arrangements.
|
|
|
December 31, 2016
|
|
December 31, 2015
|
||||||||||||
|
|
Carrying
|
|
|
Fair
|
|
|
Carrying
|
|
|
Fair
|
|
||||
(In millions)
|
|
Value
|
|
|
Value
|
|
|
Value
|
|
|
Value
|
|
||||
|
|
|
|
|
|
|
|
|
||||||||
Notes Receivable
|
|
$
|
26.2
|
|
|
$
|
28.4
|
|
|
$
|
12.1
|
|
|
$
|
14.9
|
|
|
|
|
|
|
|
|
|
|
||||||||
Debt Obligations:
|
|
|
|
|
|
|
|
|
||||||||
Senior notes
|
|
$
|
14,838.3
|
|
|
$
|
15,184.4
|
|
|
$
|
12,406.1
|
|
|
$
|
12,618.8
|
|
Term loan
|
|
823.3
|
|
|
825.0
|
|
|
—
|
|
|
—
|
|
||||
Commercial paper
|
|
953.3
|
|
|
953.3
|
|
|
49.6
|
|
|
49.6
|
|
||||
Other
|
|
13.0
|
|
|
13.0
|
|
|
16.3
|
|
|
16.3
|
|
||||
|
|
|
|
|
|
|
|
|
||||||||
|
|
$
|
16,627.9
|
|
|
$
|
16,975.7
|
|
|
$
|
12,472.0
|
|
|
$
|
12,684.7
|
|
Note
13
.
|
Supplemental Cash Flow Information
|
(In millions)
|
|
2016
|
|
|
2015
|
|
|
2014
|
|
|||
|
|
|
|
|
|
|
||||||
Cash Paid For:
|
|
|
|
|
|
|
||||||
Interest
|
|
$
|
457.9
|
|
|
$
|
437.6
|
|
|
$
|
435.9
|
|
|
|
|
|
|
|
|
||||||
Income Taxes
|
|
$
|
663.2
|
|
|
$
|
476.6
|
|
|
$
|
585.7
|
|
|
|
|
|
|
|
|
||||||
Non-cash Activities
|
|
|
|
|
|
|
||||||
Fair value of assets of acquired businesses
|
|
$
|
7,032.4
|
|
|
$
|
737.4
|
|
|
$
|
19,623.9
|
|
Cash paid for acquired businesses
|
|
(5,634.9
|
)
|
|
(700.6
|
)
|
|
(13,534.6
|
)
|
|||
|
|
|
|
|
|
|
||||||
Liabilities assumed of acquired businesses
|
|
$
|
1,397.5
|
|
|
$
|
36.8
|
|
|
$
|
6,089.3
|
|
|
|
|
|
|
|
|
||||||
Declared but unpaid dividends
|
|
$
|
60.1
|
|
|
$
|
61.3
|
|
|
$
|
61.9
|
|
|
|
|
|
|
|
|
||||||
Issuance of stock upon vesting of restricted stock units
|
|
$
|
126.9
|
|
|
$
|
131.0
|
|
|
$
|
110.0
|
|
|
|
|
|
|
|
|
||||||
Fair value of investments contributed to defined benefit plans
|
|
$
|
15.9
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Note
14
.
|
Restructuring and Other Costs (Income), Net
|
(In millions)
|
|
Cost of
Revenues |
|
|
Selling,
General and Administrative Expenses |
|
|
Restructuring
and Other Costs, Net |
|
|
Total
|
|
||||
|
|
|
|
|
|
|
|
|
||||||||
Life Sciences Solutions
|
|
$
|
31.2
|
|
|
$
|
36.0
|
|
|
$
|
87.6
|
|
|
$
|
154.8
|
|
Analytical Instruments
|
|
62.4
|
|
|
46.5
|
|
|
68.3
|
|
|
177.2
|
|
||||
Specialty Diagnostics
|
|
—
|
|
|
(0.3
|
)
|
|
14.9
|
|
|
14.6
|
|
||||
Laboratory Products and Services
|
|
7.9
|
|
|
0.5
|
|
|
17.7
|
|
|
26.1
|
|
||||
Corporate
|
|
—
|
|
|
21.2
|
|
|
0.7
|
|
|
21.9
|
|
||||
|
|
|
|
|
|
|
|
|
||||||||
|
|
$
|
101.5
|
|
|
$
|
103.9
|
|
|
$
|
189.2
|
|
|
$
|
394.6
|
|
(In millions)
|
|
Cost of
Revenues
|
|
|
Selling,
General and
Administrative
Expenses
|
|
|
Restructuring
and Other
Costs, Net
|
|
|
Total
|
|
||||
|
|
|
|
|
|
|
|
|
||||||||
Life Sciences Solutions
|
|
$
|
2.0
|
|
|
$
|
13.6
|
|
|
$
|
64.4
|
|
|
$
|
80.0
|
|
Analytical Instruments
|
|
0.1
|
|
|
(0.3
|
)
|
|
26.6
|
|
|
26.4
|
|
||||
Specialty Diagnostics
|
|
0.8
|
|
|
(0.4
|
)
|
|
9.7
|
|
|
10.1
|
|
||||
Laboratory Products and Services
|
|
6.2
|
|
|
6.1
|
|
|
12.6
|
|
|
24.9
|
|
||||
Corporate
|
|
—
|
|
|
27.3
|
|
|
2.0
|
|
|
29.3
|
|
||||
|
|
|
|
|
|
|
|
|
||||||||
|
|
$
|
9.1
|
|
|
$
|
46.3
|
|
|
$
|
115.3
|
|
|
$
|
170.7
|
|
(In millions)
|
|
Cost of
Revenues
|
|
|
Selling,
General and
Administrative
Expenses
|
|
|
Restructuring
and Other
Costs
(Income), Net
|
|
|
Total
|
|
||||
|
|
|
|
|
|
|
|
|
||||||||
Life Sciences Solutions
|
|
$
|
327.3
|
|
|
$
|
122.5
|
|
|
$
|
(516.4
|
)
|
|
$
|
(66.6
|
)
|
Analytical Instruments
|
|
(0.8
|
)
|
|
0.9
|
|
|
2.5
|
|
|
2.6
|
|
||||
Specialty Diagnostics
|
|
0.9
|
|
|
1.5
|
|
|
17.7
|
|
|
20.1
|
|
||||
Laboratory Products and Services
|
|
0.2
|
|
|
—
|
|
|
(121.0
|
)
|
|
(120.8
|
)
|
||||
Corporate
|
|
—
|
|
|
5.8
|
|
|
19.0
|
|
|
24.8
|
|
||||
|
|
|
|
|
|
|
|
|
||||||||
|
|
$
|
327.6
|
|
|
$
|
130.7
|
|
|
$
|
(598.2
|
)
|
|
$
|
(139.9
|
)
|
(In millions)
|
|
Severance
|
|
|
Abandonment
of Excess
Facilities
|
|
|
Other (a)
|
|
|
Total
|
|
||||
|
|
|
|
|
|
|
|
|
||||||||
Balance at December 31, 2013
|
|
$
|
28.6
|
|
|
$
|
9.4
|
|
|
$
|
2.5
|
|
|
$
|
40.5
|
|
Costs incurred in 2014 (c)
|
|
140.8
|
|
|
10.5
|
|
|
102.4
|
|
|
253.7
|
|
||||
Reserves reversed (b)
|
|
(5.5
|
)
|
|
(0.1
|
)
|
|
(0.2
|
)
|
|
(5.8
|
)
|
||||
Payments
|
|
(124.1
|
)
|
|
(10.4
|
)
|
|
(98.1
|
)
|
|
(232.6
|
)
|
||||
Currency translation
|
|
(2.1
|
)
|
|
0.4
|
|
|
(0.7
|
)
|
|
(2.4
|
)
|
||||
|
|
|
|
|
|
|
|
|
||||||||
Balance at December 31, 2014
|
|
37.7
|
|
|
9.8
|
|
|
5.9
|
|
|
53.4
|
|
||||
Costs incurred in 2015 (d)
|
|
57.0
|
|
|
19.1
|
|
|
14.6
|
|
|
90.7
|
|
||||
Reserves reversed (b)
|
|
(11.7
|
)
|
|
(0.5
|
)
|
|
(2.2
|
)
|
|
(14.4
|
)
|
||||
Payments
|
|
(66.6
|
)
|
|
(15.0
|
)
|
|
(15.0
|
)
|
|
(96.6
|
)
|
||||
Currency translation
|
|
(1.2
|
)
|
|
(0.3
|
)
|
|
(0.3
|
)
|
|
(1.8
|
)
|
||||
|
|
|
|
|
|
|
|
|
||||||||
Balance at December 31, 2015
|
|
15.2
|
|
|
13.1
|
|
|
3.0
|
|
|
31.3
|
|
||||
Costs incurred in 2016 (e)
|
|
109.1
|
|
|
45.9
|
|
|
11.9
|
|
|
166.9
|
|
||||
Reserves reversed (b)
|
|
(1.9
|
)
|
|
(0.4
|
)
|
|
(0.5
|
)
|
|
(2.8
|
)
|
||||
Payments
|
|
(83.2
|
)
|
|
(26.6
|
)
|
|
(12.2
|
)
|
|
(122.0
|
)
|
||||
Currency translation
|
|
(1.0
|
)
|
|
(0.1
|
)
|
|
—
|
|
|
(1.1
|
)
|
||||
|
|
|
|
|
|
|
|
|
||||||||
Balance at December 31, 2016
|
|
$
|
38.2
|
|
|
$
|
31.9
|
|
|
$
|
2.2
|
|
|
$
|
72.3
|
|
(a)
|
Other includes cash charges to monetize certain equity awards held by employees of Life Technologies at the date of acquisition, relocation and moving expenses associated with facility consolidations, as well as employee retention costs which are accrued ratably over the period through which employees must work to qualify for a payment.
|
(b)
|
Represents reductions in cost of plans.
|
(c)
|
Excludes a
$895.4 million
net gain on the sale of businesses, principally the company’s sera and media, gene modulation and magnetic beads businesses and the Cole-Parmer business;
$19.6 million
of cash compensation to monetize certain equity awards held by Life Technologies’ employees at the date of acquisition that was paid by Life Technologies prior to the acquisition;
$9.3 million
of provision for losses on pre-acquisition litigation-related matters of Life Technologies; and an aggregate of
$19.9 million
of non-cash charges, net.
|
(d)
|
Excludes
$24.7 million
of provision for losses on litigation-related matters;
$14.9 million
of impairment of acquired technology in development; a
$7.6 million
gain on the sale of a product line;
$5.0 million
of cash compensation contractually due to employees of an acquired business on the date of acquisition;
$0.9 million
of charges associated with a previous sale of a business; and an aggregate of
$1.1 million
of non-cash charges, net.
|
(e)
|
Excludes
$24.0 million
of provision for losses on litigation-related matters;
$8.3 million
of provision for environmental remediation;
$4.6 million
of net gains on the sale of real estate; and an aggregate of
$2.6 million
of non-cash income, net.
|
Note
15
.
|
Unaudited Quarterly Information
|
|
|
2016
|
||||||||||||||
(In millions except per share amounts)
|
|
First (a)
|
|
|
Second (b)
|
|
|
Third (c)
|
|
|
Fourth (d)
|
|
||||
|
|
|
|
|
|
|
|
|
||||||||
Revenues
|
|
$
|
4,294.8
|
|
|
$
|
4,535.2
|
|
|
$
|
4,490.9
|
|
|
$
|
4,953.2
|
|
Gross Profit
|
|
1,957.9
|
|
|
2,078.5
|
|
|
2,053.9
|
|
|
2,278.8
|
|
||||
Income from Continuing Operations
|
|
402.3
|
|
|
516.8
|
|
|
473.5
|
|
|
632.7
|
|
||||
Net Income
|
|
402.2
|
|
|
516.6
|
|
|
473.5
|
|
|
629.5
|
|
||||
Earnings per Share from Continuing Operations:
|
|
|
|
|
|
|
|
|
||||||||
Basic
|
|
1.02
|
|
|
1.31
|
|
|
1.20
|
|
|
1.60
|
|
||||
Diluted
|
|
1.01
|
|
|
1.30
|
|
|
1.19
|
|
|
1.59
|
|
||||
Earnings per Share:
|
|
|
|
|
|
|
|
|
||||||||
Basic
|
|
1.02
|
|
|
1.31
|
|
|
1.20
|
|
|
1.60
|
|
||||
Diluted
|
|
1.01
|
|
|
1.30
|
|
|
1.19
|
|
|
1.59
|
|
||||
Cash Dividend Declared per Common Share
|
|
0.15
|
|
|
0.15
|
|
|
0.15
|
|
|
0.15
|
|
(a)
|
Costs of
$90.1 million
.
|
(b)
|
Costs of
$56.6 million
.
|
(c)
|
Costs of
$149.8 million
.
|
(d)
|
Costs of
$98.1 million
.
|
|
|
2015
|
||||||||||||||
(In millions except per share amounts)
|
|
First (a)
|
|
|
Second (b)
|
|
|
Third (c)
|
|
|
Fourth (d)
|
|
||||
|
|
|
|
|
|
|
|
|
||||||||
Revenues
|
|
$
|
3,918.8
|
|
|
$
|
4,270.9
|
|
|
$
|
4,123.2
|
|
|
$
|
4,652.5
|
|
Gross Profit
|
|
1,822.5
|
|
|
1,941.8
|
|
|
1,883.3
|
|
|
2,108.3
|
|
||||
Income from Continuing Operations
|
|
385.1
|
|
|
511.6
|
|
|
477.3
|
|
|
606.3
|
|
||||
Net Income
|
|
385.1
|
|
|
511.6
|
|
|
476.1
|
|
|
602.6
|
|
||||
Earnings per Share from Continuing Operations:
|
|
|
|
|
|
|
|
|
||||||||
Basic
|
|
0.97
|
|
|
1.28
|
|
|
1.20
|
|
|
1.52
|
|
||||
Diluted
|
|
0.96
|
|
|
1.27
|
|
|
1.19
|
|
|
1.51
|
|
||||
Earnings per Share:
|
|
|
|
|
|
|
|
|
||||||||
Basic
|
|
0.97
|
|
|
1.28
|
|
|
1.19
|
|
|
1.51
|
|
||||
Diluted
|
|
0.96
|
|
|
1.27
|
|
|
1.18
|
|
|
1.50
|
|
||||
Cash Dividend Declared per Common Share
|
|
0.15
|
|
|
0.15
|
|
|
0.15
|
|
|
0.15
|
|
(a)
|
Costs of
$40.2 million
.
|
(b)
|
Costs of
$24.7 million
.
|
(c)
|
Costs of
$40.9 million
.
|
(d)
|
Costs of
$64.9 million
.
|
Note
16
.
|
Subsequent Event
|
A.
|
Annual Cash Compensation
|
Annual Cash Retainer:
|
$125,000
|
|
|
Additional Cash Retainer for Chairman of Audit Committee:
|
$25,000
|
|
|
Additional Cash Retainer for Chairs of Compensation Committee,
Nominating and Corporate Governance Committee, Science and
Technology Committee and Strategy and Finance Committee:
|
$15,000
|
|
|
B.
|
Equity Compensation
|
II.
|
Chairman of the Board
|
A.
|
Annual Cash Compensation
|
Annual Cash Retainer:
|
$295,000
|
B.
|
Equity Compensation
|
III.
|
Travel Expenses
|
|
THERMO FISHER SCIENTIFIC INC.
|
|||
Dated: _________
|
By: ____________________________________
|
|||
|
Name: _________________________________
|
|||
|
Title: __________________________________
|
NAME
|
STATE OR JURISDICTION OF INCORPORATION
|
PERCENT OF OWNERSHIP
|
Thermo Fisher Scientific Operating Company LLC
|
Delaware
|
100
|
Thermo Fisher Scientific Senior Financing LLC
|
Delaware
|
100
|
Thermo Fisher Scientific (DE) Holding S.a.r.l.
|
Luxembourg
|
100
|
Laboratory Management Systems, Inc.
|
Delaware
|
100
|
Thermo Fisher Scientific Peru S.A.
[1% by Fisher Clinical Services (Peru) LLC]
|
Peru
|
99
|
Thermo Fisher Scientific Malaysia Sdn. Bhd.
|
Malaysia
|
100
|
Thermo Fisher Scientific (Barbados) Holdings Ltd.
|
Barbados
|
100
|
Fisher Clinical Logistics LLC
|
Delaware
|
100
|
Fisher Clinical Services (Suzhou) Co., Ltd.
|
China
|
100
|
Fisher Clinical Services Limited Liability Company
[1% by Thermo Fisher Scientific Inc.]
|
Russia
|
99
|
Fisher Clinical Services Japan K.K.
|
Japan
|
100
|
Fisher Clinical Services (Korea) Co., Ltd
|
Korea
|
100
|
Thermo Fisher Scientific Mexico City, S. de R.L. de C.V.
[1% by Thermo Fisher Scientific (Mexico City) LLC]
|
Mexico
|
99
|
TFLP LLC
|
Delaware
|
100
|
Cohesive Technologies Inc.
|
Delaware
|
100
|
Cohesive Technologies (UK) Limited
|
England
|
100
|
Thermo Hypersil-Keystone LLC
|
Delaware
|
100
|
Fisher Worldwide Distribution SPV
|
Cayman Islands
|
100
|
Thermo Electron A/S
|
Denmark
|
100
|
TWX, LLC
[22.5% by
Thermo Scientific Portable Analytical Instruments Inc.]
|
Massachusetts
|
77.5
|
Thermo Fisher GP LLC
|
Delaware
|
100
|
Thermo Fisher Scientific C.V.
[1% by TFLP LLC]
|
Netherlands
|
99
|
Phadia GmbH
|
Germany
|
100
|
Thermo Fisher Scientific (Australia) C.V.
[.00009% by Thermo Fisher GP LLC]
|
Netherlands
|
99.99991
|
NAME
|
STATE OR JURISDICTION OF INCORPORATION
|
PERCENT OF OWNERSHIP
|
Thermo Dutch Holdings Limited Partnership
[1% by Thermo Finland Holdings LLC]
|
England
|
99
|
Fisher Clinical Services Mexico, S. de R.L. de C.V.
[1% by Fisher Clinical Services (Mexico) LLC]
|
Mexico
|
99
|
Fisher Clinical Services (Mexico) LLC
|
Delaware
|
100
|
D-finitive Technologies, Inc.
|
South Carolina
|
100
|
Thermo Fisher Scientific Middle East Holdings Inc.
|
Delaware
|
100
|
Thermo Portable Holdings LLC
|
Delaware
|
100
|
TSP Holdings I LLC
|
Delaware
|
100
|
Thermo Scientific Portable Analytical Instruments Inc.
|
Delaware
|
100
|
Thermo Fisher Germany B.V.
|
Netherlands
|
100
|
NovaWave Technologies, Inc.
|
California
|
100
|
Thermo Fisher Re Ltd.
[20% by Thermo Fisher Insurance Holdings Inc.]
|
Bermuda
|
80
|
Thermo Finland Holdings LLC
|
Delaware
|
100
|
Pelican Acquisition Corporation
|
Delaware
|
100
|
Priority Air Holdings Corp
|
Delaware
|
100
|
Priority Air Express, LLC
|
Delaware
|
100
|
Priority Air Express UK Limited
|
England
|
100
|
Priority Air Express Pte. Ltd.
|
Singapore
|
100
|
PAX - DSI Acquisition LLC
|
Delaware
|
100
|
Distribution Solutions International, Inc.
|
Michigan
|
100
|
Thermo EGS Gauging LLC
|
Delaware
|
100
|
EGS Gauging Technical Services Company
|
Delaware
|
100
|
EGS Gauging Ltd.
|
England
|
100
|
EGS Gauging Pty Ltd
|
Australia
|
100
|
Thermo Asset Management Services Inc.
|
Delaware
|
100
|
Ionalytics Corporation
|
Canada
|
100
|
Thermo CRS Holdings Ltd.
|
Canada
|
100
|
Thermo CRS Ltd.
[Series 1 Preferred Shares held by Oxoid Company, Diagnostix Ltd. and Thermo Fisher Scientific (Mississauga) Inc.]
|
Canada
|
100
|
NAME
|
STATE OR JURISDICTION OF INCORPORATION
|
PERCENT OF OWNERSHIP
|
Robocon Labor- und Industrieroboter Gesellschaft m.b.H
|
Austria
|
100
|
Thermo Fisher Scientific West Palm Holdings LLC
|
Delaware
|
100
|
Thermo Electron North America LLC
|
Delaware
|
100
|
picoSpin, LLC
|
Colorado
|
100
|
Loftus Furnace Company
|
Pennsylvania
|
100
|
NAPCO, Inc.
|
Connecticut
|
100
|
Fisher Clinical Services (Colombia) LLC
|
Delaware
|
100
|
Fisher Clinical Services Colombia S.A.S.
|
Colombia
|
100
|
Fisher Clinical Services (Peru) LLC
|
Delaware
|
100
|
Fisher Clinical Services Peru S.R.L
[1% by Thermo Fisher Scientific Inc.]
|
Peru
|
99
|
Fisher Servicios Clinicos (Chile) LLC
|
Delaware
|
100
|
Fisher Servicios Clinicos Chile Ltda
[1% by Thermo Fisher Scientific Inc.]
|
Chile
|
99
|
Staten Island Cogeneration Corporation
|
New York
|
100
|
Doe & Ingalls Investors, Inc.
|
Delaware
|
100
|
Doe & Ingalls Management, LLC
[47% by Thermo Fisher Scientific Inc.]
|
Delaware
|
53
|
Doe & Ingalls of California Operating LLC
|
North Carolina
|
100
|
Doe & Ingalls of Florida Operating LLC
|
Florida
|
100
|
Doe & Ingalls of Maryland Operating LLC
|
North Carolina
|
100
|
Doe & Ingalls of Massachusetts Operating LLC
|
North Carolina
|
100
|
Doe & Ingalls of North Carolina Operating LLC
|
North Carolina
|
100
|
Doe & Ingalls Properties II, LLC
|
North Carolina
|
100
|
Doe & Ingalls Properties, LLC
|
North Carolina
|
100
|
Thermo Electron Export Inc.
|
Barbados
|
100
|
Thermo Fisher Scientific (Mexico City) LLC
|
Delaware
|
100
|
Odyssey Luxembourg Holdings S.à r.l.
|
Luxembourg
|
100
|
Fisher Worldwide Gene Distribution SPV
|
Cayman Islands
|
100
|
Thermo Fisher Scientific Odyssey Financing (Barbados) SRL
|
Barbados
|
100
|
Thermo Fisher Scientific Odyssey Holdings Limited
|
England
|
100
|
NAME
|
STATE OR JURISDICTION OF INCORPORATION
|
PERCENT OF OWNERSHIP
|
Odyssey Venture Corporation
|
Delaware
|
100
|
Thermo Fisher Scientific Luxembourg Venture Holdings I S.a.r.l.
|
Luxembourg
|
100
|
Thermo Fisher Scientific Luxembourg Venture Holdings II S.a.r.l.
|
Luxembourg
|
100
|
Odyssey Holdings Corporation
|
Delaware
|
100
|
One Lambda, Inc
|
California
|
100
|
Odyssey Luxembourg IP Holdings 1 S.à r.l.
|
Luxembourg
|
100
|
Odyssey Luxembourg IP Holdings 2 S.à r.l.
|
Luxembourg
|
100
|
Thermo Foundation, Inc.
|
Massachusetts
|
100
|
Thermo Fisher Financial Services Inc.
|
Delaware
|
100
|
Thermo Fisher Scientific Chemicals Inc.
|
Delaware
|
100
|
Russell pH Limited
|
Scotland
|
100
|
Thermo Keytek LLC
|
Delaware
|
100
|
Thermo Finland Holdings MT2 B.V.
[10% by Thermo Finland Holdings LLC]
|
Netherlands
|
90
|
Thermo Cayman Holdings Ltd.
[33.33% by Thermo Cambridge Limited]
|
Cayman Islands
|
66.67
|
European Laboratory Holdings Limited
|
Ireland
|
100
|
Thermo Fisher Investments (Cayman) Ltd.
|
Cayman Islands
|
100
|
Thermo Suomi Holding B.V.
[33.33% by Life Sciences International Holdings BV]
|
Netherlands
|
66.67
|
Thermo Fisher (Finland Holdings 2) LLC
|
Delaware
|
100
|
Thermo Fisher (Finland Holdings) Limited Partnership
[.5% by Thermo Fisher (Finland Holdings 2) LLC]
|
England
|
99.5
|
Thermo Finland Holdings MT1 B.V.
[.5% by Thermo Fisher (Finland Holdings 2) LLC]
|
Netherlands
|
99.5
|
Thermo Fisher Scientific Oy
|
Finland
|
100
|
Thermo Fisher India Holding B.V.
[6.13% by Thermo Fisher Scientific Inc., .68% by Thermo Gamma-Metrics LLC and 30.74% by Thermo Fisher Scientific (Asheville) LLC]
|
Netherlands
|
62.45
|
Thermo Fisher Scientific India Pvt Ltd
[.00161 % by Thermo Fisher Scientific Inc., .00320% by Thermo Electron LED GmbH, 2.66891% by Phadia Holding AB, .00001% by Phadia AB, and 22.23825% by Dionex Corporation]
|
India
|
75.08802
|
Thermo Shandon Limited
|
England
|
100
|
NAME
|
STATE OR JURISDICTION OF INCORPORATION
|
PERCENT OF OWNERSHIP
|
Raymond A Lamb Limited
|
England
|
100
|
Thermo Electron Manufacturing Limited
|
England
|
100
|
Thermo Nicolet Limited
|
England
|
100
|
Thermo Elemental Limited
|
England
|
100
|
Thermo Finnigan Limited
|
England
|
100
|
Thermo Hypersil Ltd
|
England
|
100
|
G V Instruments Limited
|
England
|
100
|
GV Instruments Inc
|
Delaware
|
100
|
GV Instruments Canada Ltd.
|
Canada
|
100
|
JSC “Thermo Fisher Scientific”
|
Russia
|
100
|
Thermedics Detection de Argentina S.A.
[10% by Thermo Ramsey LLC]
|
Argentina
|
90
|
Fisher Clinical Services Latin America S.R.L.
[10% by Thermo Ramsey LLC]
|
Argentina
|
90
|
Thermo Detection de Mexico S. de R.L. de C.V.
[1% by Thermo Environmental Instruments LLC]
|
Mexico
|
99
|
Thermo Fisher Scientific eCommerce Solutions, LLC
|
Delaware
|
100
|
Goring Kerr Detection Limited
|
England
|
100
|
Thermo Sentron Canada Inc.
[10% by Thermo Fisher Scientific Inc.]
|
Canada
|
90
|
Thermo Ramsey S.A.
|
Spain
|
100
|
Thermo Ramsey LLC
|
Massachusetts
|
100
|
Thermo Fisher Project Cyprus LLC
|
Delaware
|
100
|
Thermo Fisher Scientific Brasil Instrumentos de Processo Ltda.
[.01% by Thermo Ramsey LLC]
|
Brazil
|
99.99
|
Thermo Re, Ltd.
|
Bermuda
|
100
|
Thermo Electron (Proprietary) Limited
|
South Africa
|
100
|
Princeton Gamma-Tech Instruments LLC
|
Delaware
|
100
|
TPI Real Estate Holdings LLC
|
Delaware
|
100
|
Comtest Limited
|
England
|
100
|
Thermo Electron Metallurgical Services, Inc.
|
Texas
|
100
|
ONIX Systems Inc.
|
Delaware
|
100
|
NAME
|
STATE OR JURISDICTION OF INCORPORATION
|
PERCENT OF OWNERSHIP
|
Thermo Process Instruments GP, LLC
|
Delaware
|
100
|
Thermo Process Instruments, L.P.
[0.10% by Thermo Process Instruments GP, LLC]
|
Texas
|
99.90
|
Thermo Measuretech Canada Inc.
|
Canada
|
100
|
Onix Holdings Limited
|
England
|
100
|
CAC Limited
|
England
|
100
|
Thermo Measurement Ltd
|
England
|
100
|
Thermo Onix Limited
|
England
|
100
|
Thermo Electron Scientific Instruments LLC
|
Delaware
|
100
|
Thermo Fisher Scientific Japan Holdings I B.V.
|
Netherlands
|
100
|
Fuji Partnership
[17.8184% by Thermo Fisher Scientific Japan Holdings II B.V. and 10.1634% by Thermo Fisher Scientific Japan Holdings III B.V.]
|
Japan
|
72.0182
|
TK Partnership (aka Silent Partnership)
[44.66% by Thermo Fisher Scientific K.K.]
|
Japan
|
55.34
|
Thermo Fisher Scientific (NK) LLC
|
Delaware
|
100
|
Thermo Fisher Eurobonds Ltd.
|
Cayman Islands
|
100
|
Thermo Fisher Scientific LSI Financing (Barbados) SRL
|
Barbados
|
100
|
Thermo Fisher Scientific (Mississauga) Inc.
[Thermo Finnigan LLC owns 100 Series A Preferred shares]
|
Canada
|
100
|
Life Sciences International Limited
|
England
|
100
|
Hybaid Limited
|
England
|
100
|
Equibio Limited
|
England
|
100
|
Thermo Optek Limited
|
England
|
100
|
Thermo Cambridge Limited
|
England
|
100
|
VG Systems Limited
|
England
|
100
|
Thermo Radiometrie Limited
|
England
|
100
|
Thermo Electron Limited
|
England
|
100
|
Thermo Electron Weighing & Inspection Limited
|
England
|
100
|
Thermo Sentron Limited
|
England
|
100
|
Thermo Allen Coding Limited
|
England
|
100
|
Thermo Electron (Management Services) Limited
|
England
|
100
|
NAME
|
STATE OR JURISDICTION OF INCORPORATION
|
PERCENT OF OWNERSHIP
|
Life Sciences International Holdings BV
|
Netherlands
|
100
|
Bioanalysis Labsystems, S.A.
[10% by Thermo Fisher Scientific B.V.]
|
Spain
|
90
|
Life Sciences International (Poland) SP z O.O
|
Poland
|
100
|
Thermo Ramsey Italia S.r.l.
|
Italy
|
100
|
Helmet Securities Limited
|
England
|
100
|
Life Sciences International LLC
|
Delaware
|
100
|
Thermo Fisher Scientific (Asheville) LLC
|
Delaware
|
100
|
Thermo Neslab LLC
|
New Hampshire
|
100
|
Thermo Fisher Scientific Japan Holdings II B.V.
|
Netherlands
|
100
|
Lab-Line Instruments, Inc.
|
Delaware
|
100
|
Thermo Scientific Services, Inc.
|
California
|
100
|
Thermo Fisher Scientific (Fuji) LLC
|
Delaware
|
100
|
Jouan LLC
|
Delaware
|
100
|
Kendro Laboratory Products Pty., Ltd.
|
Australia
|
100
|
Thermo Kevex X-Ray LLC
|
Delaware
|
100
|
Thermo Gamma-Metrics LLC
|
Delaware
|
100
|
ThermoSpectra Limited
|
England
|
100
|
Laser Analytical Systems, Inc.
|
California
|
100
|
Thermo Finnigan LLC
|
Delaware
|
100
|
TMOI Inc.
|
Delaware
|
100
|
Thermo Fisher Scientific (China) Holding Limited
|
England
|
100
|
Thermo Fisher Scientific NHK Limited
|
Hong Kong
|
100
|
Thermo Fisher Scientific TR Limited
|
Hong Kong
|
100
|
Thermo Fisher Scientific Baltics UAB
[18.24% by Thermo Fisher Scientific (IVGN) Limited and 18.82% by Oxoid Investments GmbH]
|
Lithuania
|
62.94
|
Fermentas China Co., Ltd
|
China
|
100
|
Thermo Fisher Scientific BHK (I) Limited
|
Hong Kong
|
100
|
Thermo Fisher China Business Trust II
[1% by Thermo Fisher Scientific BHK (II) Limited]
|
China
|
99
|
Thermo Fisher Scientific BHK (II) Limited
|
Hong Kong
|
100
|
NAME
|
STATE OR JURISDICTION OF INCORPORATION
|
PERCENT OF OWNERSHIP
|
Thermo Fisher Scientific (China-HK) Holding Limited
|
Hong Kong
|
100
|
Alfa Aesar (Hong Kong) Limited
|
Hong Kong
|
100
|
Alfa Aesar (China) Chemical Co. Ltd.
|
China
|
100
|
Thermo Fisher Scientific (Shanghai) Instruments Co., Ltd.
|
China
|
100
|
Thermo Fisher Scientific (Suzhou) Instruments Co., Ltd
|
China
|
100
|
Thermo Fisher Scientific (China) Co., Ltd.
|
China
|
100
|
Thermo Fisher Scientific (Shanghai) Management Co., Ltd.
|
China
|
100
|
Thermo Fisher Scientific (Hong Kong) Limited
|
Hong Kong
|
100
|
Thermo Life Science International Trading (Tianjin) Co., Ltd.
|
China
|
100
|
Thermo Fisher Scientific SL
|
Spain
|
100
|
Thermo Fisher (Cayman) Holdings I Ltd.
|
Cayman Islands
|
100
|
Thermo Fisher (Gibraltar) Limited
[50% by Thermo Fisher (Cayman) Holdings II Ltd.]
|
Gibraltar
|
50
|
Thermo Fisher (Gibraltar) II Limited
|
Gibraltar
|
100
|
Navaho Acquisition Corp.
|
Delaware
|
100
|
NanoDrop Technologies LLC
|
Delaware
|
100
|
Thermo Fisher (Cayman) Holdings II Ltd.
|
Cayman Islands
|
100
|
Thermo BioAnalysis LLC
[5.1% by Life Sciences International Limited and 9.4% by Life Sciences International LLC]
|
Delaware
|
85.5
|
Thermo Fisher Scientific Senior Holdings Australia LLC
|
Delaware
|
100
|
Thermo LabSystems S.A.
|
Spain
|
100
|
Thermo Fisher German Holdings LLC
|
Delaware
|
100
|
Thermo Holding European Operations LLC
|
Delaware
|
100
|
Thermo DMA Inc.
|
Texas
|
100
|
Thermo Shandon Inc.
|
Pennsylvania
|
100
|
Thermo BioAnalysis Limited
|
England
|
100
|
Thermo Fast U.K. Limited
|
England
|
100
|
Thermo Projects Limited
|
England
|
100
|
Thermo LabSystems Inc.
|
Massachusetts
|
100
|
InnaPhase Limited
|
England
|
100
|
InnaPhase, Inc.
|
Canada
|
100
|
NAME
|
STATE OR JURISDICTION OF INCORPORATION
|
PERCENT OF OWNERSHIP
|
Thermo Environmental Instruments LLC
|
California
|
100
|
27 Forge Parkway LLC
|
Delaware
|
100
|
Thermo Electron (Calgary) Limited
|
Canada
|
100
|
Thermo Orion Inc.
|
Massachusetts
|
100
|
Thermo Fisher Scientific Aquasensors LLC
|
Delaware
|
100
|
Thermo Electron Puerto Rico, Inc.
|
Puerto Rico
|
100
|
Thermo CIDTEC Inc.
|
New York
|
100
|
Thermo Power Corporation
|
Massachusetts
|
100
|
ACI Holdings Inc.
|
New York
|
100
|
Thermo Securities Corporation
|
Delaware
|
100
|
Thermo Eberline Holdings I LLC
[49% by Thermo Fisher Scientific Inc.]
|
Delaware
|
51
|
Thermo Eberline Holdings II LLC
|
Delaware
|
100
|
Thermo Eberline LLC
|
Delaware
|
100
|
Thermo Instrument Controls de Mexico, S.A. de C.V.
[2% by Thermo Fisher Scientific Inc.]
|
Mexico
|
98
|
ThermoLase LLC
|
Delaware
|
100
|
Trex Medical Corporation
|
Delaware
|
100
|
Fermentas Inc.
|
Maryland
|
100
|
TFS LLC
|
Massachusetts
|
100
|
Thermo Corporation
|
Delaware
|
100
|
Fisher Scientific GmbH
|
Germany
|
100
|
Fisher Scientific (Polska) Sp. z o.o.
|
Poland
|
100
|
Fisher Scientific Germany Beteiligungs GmbH
|
Germany
|
100
|
Fisher Scientific, spol. S.r.o [33% held privately]
|
Czech Republic
|
67
|
Fisher Scientific (Austria) GmbH
|
Austria
|
100
|
Thermo Fisher Scientific Germany BV & Co. KG
[Thermo Fisher Germany B.V., general partner with 0% ownership]
|
Germany
|
100
|
Thermo Fisher Scientific (Finance III) S.a.r.l.
|
Luxembourg
|
100
|
Thermo Fisher Scientific (Finance II) S.a.r.l.
|
Luxembourg
|
100
|
Thermo Fisher Scientific (Finance I) S.a.r.l.
|
Luxembourg
|
100
|
NAME
|
STATE OR JURISDICTION OF INCORPORATION
|
PERCENT OF OWNERSHIP
|
Thermo Fisher Scientific Falcon Senior Holdings Inc.
|
Delaware
|
100
|
Thermo Fisher Scientific FLC B.V.
|
Netherlands
|
100
|
Thermo Fisher Scientific FLC Finance C.V.
[1% by Thermo Fisher Scientific FLC LLC]
|
Netherlands
|
99
|
Thermo Fisher Scientific FLC LLC
|
Delaware
|
100
|
FEI Company
|
Oregon
|
100
|
ASPEX Corporation
|
Pennsylvania
|
100
|
FEI Technologies, Inc.
|
Oregon
|
100
|
FEI Korea Ltd.
|
Korea
|
100
|
FEI Houston, Inc.
|
Delaware
|
100
|
FEI Melbourne Pty Ltd.
|
Australia
|
100
|
FEI EFA, Inc.
|
Delaware
|
100
|
DCG Systems GmbH
|
Germany
|
100
|
DCG Systems LLC
|
Delaware
|
100
|
DCG Systems C.V.
[.01% by DCG Systems, LLC]
|
Netherlands
|
99.99
|
DCG Systems B.V.
|
Netherlands
|
100
|
FEI EFA International Pte. Ltd.
|
Singapore
|
100
|
DCG Systems G.K.
|
Japan
|
100
|
DCG Systems Korea Ltd.
|
Korea
|
100
|
FEI Global Holdings C.V.
[1% by FEI Technologies, Inc.]
|
Netherlands
|
99
|
FEI Electron Optics International B.V.
|
Netherlands
|
100
|
FEI Deutschland GmbH
|
Germany
|
100
|
KonTEM GmbH
|
Germany
|
100
|
FEI Munich GmbH
|
Germany
|
100
|
FEI Microscopy Solutions Ltd
|
Israel
|
100
|
FEI CPD B.V.
|
Netherlands
|
100
|
FEI Company of USA (S.E.A.) Pte Ltd.
|
Singapore
|
100
|
FEI Europe B.V.
|
Netherlands
|
100
|
FEI Electron Optics B.V.
|
Netherlands
|
100
|
NAME
|
STATE OR JURISDICTION OF INCORPORATION
|
PERCENT OF OWNERSHIP
|
FEI Hong Kong Company Limited
|
Hong Kong
|
100
|
FEI Trading (Shanghai) Co., Ltd.
|
China
|
100
|
FEI Czech Republic s.r.o.
|
Czech Republic
|
100
|
FEI Asia Pacific Co., Ltd.
|
China
|
100
|
FEI Technology de Mexico S.A. de C.V.
[2% by FEI Company]
|
Mexico
|
98
|
FEI Technology de Nanotechnologia Ltda
[1% by FEI Europe B.V.]
|
Brazil
|
99
|
FEI UK Ltd.
|
England
|
100
|
FEI France SAS
|
France
|
100
|
FEI Italia Srl
|
Italy
|
100
|
FEI SAS
|
France
|
100
|
FEI Company Japan Ltd.
|
Japan
|
100
|
FEI Norway Holding AS
|
Norway
|
100
|
FEI Australia Pty Ltd
|
Australia
|
100
|
FEI Trondheim AS
|
Norway
|
100
|
Microgenics Corporation
|
Delaware
|
100
|
Consolidated Technologies, Inc.
|
Wisconsin
|
100
|
Microgenics Diagnostics Pty Limited
|
Australia
|
100
|
Remel Inc.
|
Wisconsin
|
100
|
Trek Diagnostic Systems LLC
|
Delaware
|
100
|
Trek Holding Company Ltd.
|
England
|
100
|
Trek Holding Company II Ltd.
|
England
|
100
|
Trek Diagnostic Systems Ltd.
|
England
|
100
|
Thermo Luxembourg Holding S.a.r.l.
|
Luxembourg
|
100
|
Thermo Fisher Scientific Biosciences Corp.
|
Canada
|
100
|
Oxoid Investments GmbH
|
Germany
|
100
|
B.R.A.H.M.S. GmbH
[5.025% by Thermo Fisher Scientific Beteiligungsverwaltungs GmbH]
|
Germany
|
94.975
|
B.R.A.H.M.S. Biotech GmbH
[6% held privately]
|
Germany
|
94
|
NAME
|
STATE OR JURISDICTION OF INCORPORATION
|
PERCENT OF OWNERSHIP
|
B.R.A.H.M.S. Austria GmbH
|
Austria
|
100
|
Cezanne S.A.S.
|
France
|
100
|
HENO GmbH i.L.
|
Germany
|
100
|
B.R.A.H.M.S. UK Ltd
|
England
|
100
|
Thermo Fisher Scientific Vermogensverwaltungs GmbH
|
Germany
|
100
|
Fermentas Sweden AB
|
Sweden
|
100
|
Fermentas UK Limited
|
England
|
100
|
Thermo Fisher Scientific Luxembourg German Holdings S.a.r.l.
|
Luxembourg
|
100
|
Dionex (UK) Limited
[0.10% by Dionex Corporation]
|
England
|
99.90
|
Thermo Fisher Scientific Chromatography Holdings S.à r.l.
[4% by Oxoid Investments GmbH and 1.28% by Thermo Fisher Scientific B.V.]
|
Luxembourg
|
94.719
|
Thermo Fisher Scientific Chromatography Holdings Aps
|
Denmark
|
100
|
Dionex Corporation
|
Delaware
|
100
|
Thermo Fisher Scientific Pte. Ltd.
|
Singapore
|
100
|
Dionex Sweden AB
|
Sweden
|
100
|
Dionex Brasil Instrumentos Cientificos Ltda
[.01% by Thermo Fisher Scientific Brasil Instrumentos de Processo Ltda.]
|
Brazil
|
99.99
|
Dionex I, LLC
|
Delaware
|
100
|
Dionex (Switzerland) AG
|
Switzerland
|
100
|
Dionex Canada Ltd.
|
Canada
|
100
|
Dionex Austria GmbH
|
Austria
|
100
|
Dionex Benelux B.V.
|
Netherlands
|
100
|
Dionex Holding GmbH
|
Germany
|
100
|
Dionex Softron GmbH
|
Germany
|
100
|
Dionex Singapore Pte Ltd.
|
Singapore
|
100
|
Thermo Fisher Scientific Korea Ltd.
|
Korea
|
100
|
Phadia Korea Co., Ltd
|
Korea
|
100
|
Dionex S.A.
|
France
|
100
|
Thermo Fisher Diagnostics (Ireland) Limited
|
Ireland
|
100
|
NAME
|
STATE OR JURISDICTION OF INCORPORATION
|
PERCENT OF OWNERSHIP
|
Dionex S.p.A.
[0.08% held privately]
|
Italy
|
99.92
|
Dionex Pty Ltd.
|
Australia
|
100
|
Dionex China Limited
|
Hong Kong
|
100
|
Dionex (China) Analytical Ltd
|
China
|
100
|
Thermo Fisher Scientific Taiwan Co., Ltd.
|
Taiwan
|
100
|
Dionex Denmark A/S
|
Denmark
|
100
|
Thermo TLH (UK) Limited
|
England
|
100
|
Thermo Fisher Scientific (Breda) Holding BV
|
Netherlands
|
100
|
Thermo Fisher Scientific B.V.
|
Netherlands
|
100
|
Thermo Optek S.A.
|
Spain
|
100
|
Thermo Fisher Scientific Finance Company BV
|
Netherlands
|
100
|
Thermo Quest S.A.
|
Spain
|
100
|
Thermo Luxembourg S.a.r.l.
|
Luxembourg
|
100
|
Thermo Fisher Scientific IT Services GmbH
|
Germany
|
100
|
Thermo Fisher Scientific GmbH
|
Germany
|
100
|
BmT GmbH Laborprodukte
|
Germany
|
100
|
Thermo Fisher Scientific (Real Estate 1) S.a.r.l.
|
Luxembourg
|
100
|
Thermo Fisher Scientific Messtechnik GmbH
[10.04% by Thermo Fisher Scientific (Real Estate 1) GmbH & Co. KG]
|
Germany
|
89.96
|
Thermo Electron (Karlsruhe) GmbH
[10% by Thermo Fisher Scientific (Real Estate 1) GmbH & Co. KG]
|
Germany
|
90
|
Thermo Electron Pension Trust GmbH
|
Germany
|
100
|
Thermo Fisher Scientific (Real Estate 1) GmbH & Co. KG
[0% by Fisher Scientific Germany Beteiligungs GmbH as the General Partner]
|
Germany
|
100
|
Thermo Fisher Scientific (Bremen) GmbH
[10% by Thermo Fisher Scientific (Real Estate 1) GmbH & Co. KG]
|
Germany
|
90
|
La-Pha-Pack GmbH
|
Germany
|
100
|
Thermo Electron LED GmbH
[10% by Thermo Fisher Scientific (Real Estate 1) GmbH & Co. KG]
|
Germany
|
90
|
Thermo Electron LED GmbH
|
Austria
|
100
|
NAME
|
STATE OR JURISDICTION OF INCORPORATION
|
PERCENT OF OWNERSHIP
|
Thermo TLH L.P.
[0.01% by Thermo TLH (U.K.) Limited]
|
Delaware
|
99.99
|
Gerhard Menzel B.V. & Co. KG
[.01% by Thermo Fisher Germany B.V.]
|
Germany
|
99.99
|
Microm International GmbH
|
Germany
|
100
|
Oxoid Deutschland GmbH
|
Germany
|
100
|
Microgenics GmbH
|
Germany
|
100
|
ILS Laboratories Scandinavia, AB
|
Sweden
|
100
|
Advanced Scientifics International, Inc.
|
Pennsylvania
|
100
|
Advanced Scientifics, Inc.
|
Pennsylvania
|
100
|
Avances Cientificos de Mexico, S. de R.L. de C.V.
[1.005% by Advanced Scientifics International, Inc.]
|
Mexico
|
98.995
|
Barnstead Thermolyne LLC
|
Delaware
|
100
|
Thermo Fisher Scientific China Holdings I B.V.
|
Netherlands
|
100
|
Thermo Fisher Scientific China Holdings II B.V.
|
Netherlands
|
100
|
Thermo Fisher Scientific China Holdings III B.V.
|
Netherlands
|
100
|
Thermo Fisher China Business Trust
[1% by Thermo Fisher Scientific China Holdings IV B.V.]
|
China
|
99
|
Thermo Fisher Scientific China Holdings IV B.V.
|
Netherlands
|
100
|
Fisher Scientific International LLC
|
Delaware
|
100
|
NERL Diagnostics LLC
|
Wisconsin
|
100
|
FHP LLC
|
Delaware
|
100
|
Alchematrix, Inc.
|
Delaware
|
100
|
Fisher Internet Minority Holdings L.L.C.
|
Delaware
|
100
|
Alchematrix LLC
|
Delaware
|
100
|
Apogent Technologies Inc.
|
Wisconsin
|
100
|
Apogent Holding Company
|
Delaware
|
100
|
Niton Asia Limited
|
Hong Kong
|
100
|
Matrix Technologies LLC
|
Delaware
|
100
|
Molecular BioProducts, Inc.
|
California
|
100
|
Intrinsic BioProbes, Inc.
|
Arizona
|
100
|
NAME
|
STATE OR JURISDICTION OF INCORPORATION
|
PERCENT OF OWNERSHIP
|
Labomex MBP, S. de R. L. De C.V.
[.04% by Apogent Technologies Inc.]
|
Mexico
|
99.96
|
National Scientific Company
|
Wisconsin
|
100
|
Lab-Chrom-Pack LLC
|
New York
|
100
|
Robbins Scientific LLC
|
California
|
100
|
Apogent Transition Corp.
|
Delaware
|
100
|
Erie Scientific LLC
|
Delaware
|
100
|
Thermo Fisher Scientific Life Holdings II C.V.
[10.000012% by Fisher WWD Holding L.L.C., .000060% by Fisher Scientific Worldwide Inc., and .000001% by Apogent Technologies Inc.]
|
Netherlands
|
89.999927
|
Thermo Fisher Scientific AL-1 LLC
|
Delaware
|
100
|
Thermo Fisher Scientific Life Holdings III C.V.
[33.19378799% by Erie Scientific LLC, 20.30539491% by Thermo Fisher Scientific Inc., 2.01316373 by Thermo BioAnalysis LLC, and .00000002% by Thermo Fisher Scientific AL-1 LLC]
|
Netherlands
|
44.48765335
|
Thermo Fisher Scientific Life Investments GP LLC
|
Delaware
|
100
|
Thermo Fisher Scientific Life Investments C.V.
[.00000002% by Thermo Fisher Scientific Life Investments GP LLC]
|
Netherlands
|
99.99999998
|
Thermo Fisher Scientific Life Senior Holdings, Inc.
[27.96% by Thermo Fisher Scientific Life Investments US Financing I LLC, 6.18% by Thermo Fisher Scientific Inc., 9.09% by Thermo Fisher Scientific Life Investments US Financing II LLC, 9.23% by Thermo Fisher Scientific Norway Holdings AS, and 13.98% by Thermo Fisher Scientific Life Technologies Investment UK I Limited]
|
Delaware
|
33.57
|
Thermo Fisher Scientific Invitrogen Financing (Barbados) SRL
|
Barbados
|
100
|
Invitrogen Holdings Ltd.
|
Scotland
|
100
|
Invitrogen Europe Limited
|
Scotland
|
100
|
Affymetrix, Inc
|
Delaware
|
100
|
Affymetrix Biotech Ltda.
[1% by Affymetrix Pte Ltd]
|
Brazil
|
99
|
Affymetrix Japan K.K.
|
Japan
|
100
|
Affymetrix Pte Ltd
|
Singapore
|
100
|
Affymetrix Biotech Shanghai Ltd
|
China
|
100
|
Affymetrix, UK Ltd
|
England
|
100
|
Bender MedSystems GmbH
|
Austria
|
100
|
eBioscience, Ltd
|
England
|
100
|
NAME
|
STATE OR JURISDICTION OF INCORPORATION
|
PERCENT OF OWNERSHIP
|
eBioscience GmbH
|
Germany
|
100
|
eBioscience SAS
|
France
|
100
|
Panomics, L.L.C.
|
California
|
100
|
Panomics S.R.L.
|
Italy
|
100
|
USB Corporation
|
Ohio
|
100
|
Life Technologies Corporation
|
Delaware
|
100
|
Thermo Fisher Scientific Life Technologies Israel Investment I Limited
|
England
|
100
|
Thermo Fisher Scientific Life Technologies Israel Investment II Limited
|
England
|
100
|
STC Bio Manufacturing, Inc.
|
Illinois
|
100
|
HyClone International Trade (Tianjin) Co., Ltd
|
China
|
100
|
Invitrogen Argentina SA
|
Argentina
|
100
|
Invitrogen BioServices India Private Limited
[1% by Invitrogen Holdings LLC]
|
India
|
99
|
Invitrogen IP Holdings, Inc.
|
Delaware
|
100
|
Ion Torrent Systems, Inc.
|
Delaware
|
100
|
Molecular Probes, Inc.
|
Oregon
|
100
|
Acoustic Cytometry Systems, Inc.
|
Delaware
|
100
|
Matrix MicroScience Inc.
|
Colorado
|
100
|
Gold Cattle Standard Testing Labs, Inc.
|
Texas
|
100
|
Westover Scientific, Inc.
|
Washington
|
100
|
Kettlebrook Insurance Co. ltd.
[32.5% owned by Invitrogen Europe Limited]
|
Hawaii
|
67.5
|
Thermo Fisher Israel Ltd.
|
Israel
|
100
|
Invitrogen Finance Corp.
|
Delaware
|
100
|
CellzDirect, Inc.
|
Delaware
|
100
|
Applied Biosystems, LLC
|
Delaware
|
100
|
NewcoGen PE, LLC
|
Delaware
|
100
|
Applied Biosystems International Inc.
|
Delaware
|
100
|
BioTrove Corporation
|
Delaware
|
100
|
BioTrove International, Inc.
|
Delaware
|
100
|
Life Technologies Clinical Services Lab, Inc.
|
Delaware
|
100
|
NAME
|
STATE OR JURISDICTION OF INCORPORATION
|
PERCENT OF OWNERSHIP
|
Compendia Bioscience, Inc.
|
Michigan
|
100
|
AcroMetrix LLC
|
California
|
100
|
Ambion, Inc.
|
Delaware
|
100
|
CHK Holdings Inc.
|
Delaware
|
100
|
Applied Biosystems de Mexico S. de R.L. de C.V.
[.002% by Applied Biosystems, LLC]
|
Mexico
|
99.998
|
Thermo Fisher Scientific (IVGN) Limited
[.83% by Ambion, Inc.]
|
Hong Kong
|
99.16
|
Thermo Fisher Scientific (IVGN) B.V.
|
Netherlands
|
100
|
Thermo Fisher Scientific Life Tech Korea Holdings LLC
|
Delaware
|
100
|
Life Technologies Brasil Comercio e Industria de Produtos para Biotecnologia Ltda
[3.45% by Thermo Fisher CHK Holding LLC]
|
Brazil
|
96.55
|
Thermo Fisher CHK Holding LLC
|
Delaware
|
100
|
Invitrogen Holdings LLC
|
Delaware
|
100
|
Thermo Fisher Scientific Life Technologies Luxembourg Holding LLC
|
Delaware
|
100
|
Thermo Fisher Scientific Luxembourg Life Technologies UK Holding S.à r.l
|
Luxembourg
|
100
|
Thermo Fisher Scientific Life Technologies Enterprise Holding Limited
|
England
|
100
|
Thermo Fisher Scientific Luxembourg Enterprise Holdings S.à r.l.
|
Luxembourg
|
100
|
Thermo Fisher Scientific Life Enterprises GP LLC
|
Delaware
|
100
|
Thermo Fisher Scientific Life Enterprises C.V.
[.10% by Thermo Fisher Scientific Life Enterprises GP LLC]
|
Netherlands
|
99.90
|
Thermo Fisher Scientific Life International GP Holdings LLC
|
Delaware
|
100
|
Thermo Fisher Scientific Life International Holdings I C.V. [.10% by Thermo Fisher Scientific Life International GP Holdings LLC]
|
Netherlands
|
99.90
|
Thermo Fisher Scientific Life CV GP Holdings II LLC
|
Delaware
|
100
|
Thermo Fisher Scientific Life International Holdings II C.V. [.55383943% by Thermo Fisher Scientific Life Investments IV S.a.r.l. and .000000004% by Thermo Fisher Scientific Life CV GP Holding II LLC ]
|
Netherlands
|
99.44616054
|
Thermo Fisher Scientific Life NL Holdings GP LLC
|
Delaware
|
100
|
Thermo Fisher Scientific Life Netherlands Holding C.V. [10% by Thermo Fisher Scientific Life NL Holdings GP LLC]
|
Netherlands
|
90
|
Thermo Fisher Scientific Life Technologies Investment UK I Limited
|
England
|
100
|
NAME
|
STATE OR JURISDICTION OF INCORPORATION
|
PERCENT OF OWNERSHIP
|
Thermo Fisher Scientific Holdings (Cayman) I [49.47% by Thermo Fisher Scientific Life Technologies Investment I LLC]
|
Cayman Islands
|
50.53
|
Thermo Fisher Scientific Holdings (Cayman) II
|
Cayman Islands
|
100
|
Thermo Fisher Scientific Cayman Investments LLC
|
Delaware
|
100
|
Applied Biosystems B.V.
|
Netherlands
|
100
|
Life Technologies Australia PTY Ltd.
|
Australia
|
100
|
Life Technologies New Zealand Ltd.
|
New Zealand
|
100
|
Invitrogen Hong Kong Limited
|
Hong Kong
|
100
|
Life Technologies Limited
[23.5% by Applied Biosystems BV]
|
Hong Kong
|
76.5
|
Life Technologies Holdings PTE Ltd.
|
Singapore
|
100
|
Life Technologies Magyarorszag Kft
|
Hungary
|
100
|
Life Technologies Czech Republic s.r.o.
|
Czech Republic
|
100
|
Life Technologies Polska Sp z.o.o.
[.08% by Invitrogen Holdings LLC]
|
Poland
|
99.92
|
Life Technologies International B.V.
|
Netherlands
|
100
|
Life Technologies Europe B.V.
|
Netherlands
|
100
|
Prionics AG
|
Switzerland
|
100
|
Prionics Italia S.r.l.
|
Italy
|
100
|
Prionics Deutschland GmbH
|
Germany
|
100
|
Prionics USA Inc.
|
Delaware
|
100
|
Prionics Lelystad B.V.
|
Netherlands
|
100
|
Prionics France SAS
|
France
|
100
|
Prionics Asia Ltd.
|
Hong Kong
|
100
|
IDnostics AG
[49% held privately]
|
Switzerland
|
51
|
Applied Biosystems Finance B.V.
|
Netherlands
|
100
|
Life Technologies SA
|
Spain
|
100
|
Stokes Bio Ltd.
|
Ireland
|
100
|
Life Technologies s.r.o
[2.1% by Applied Biosystems BV]
|
Slovakia
|
97.9
|
Life Technologies AS
|
Norway
|
100
|
NAME
|
STATE OR JURISDICTION OF INCORPORATION
|
PERCENT OF OWNERSHIP
|
Life Technologies Norway Investments US LLC
|
Delaware
|
100
|
Nihon Dynal K.K.
[40% by Veritas Corp. a Joint Venture]
|
Japan
|
60
|
Dynal Biotech Beijing Limited
|
China
|
100
|
Life Technologies SAS
|
France
|
100
|
Laboratoire Services International (LSI) SAS
|
France
|
100
|
BAC BV
|
Netherlands
|
100
|
BAC IP BV
|
Netherlands
|
100
|
Invitrogen Trading (Shanghai) Co., Ltd.
|
China
|
100
|
Life Technologies DaAn Diagnostic (Guangzhou) Co., Ltd.
[42.5% held privately]
|
China
|
57.5
|
Life Technologies Finance Ltd.
|
Scotland
|
100
|
Thermo Fisher Scientific (Thailand) Co., Ltd.
|
Thailand
|
100
|
Life Technologies Korea LLC
[20% by Thermo Fisher Scientific Life Tech Korea Holdings LLC]
|
South Korea
|
80
|
KDR Biotech Ltd.
|
South Korea
|
100
|
Applied Biosystems Trading (Shanghai) Company Ltd.
|
China
|
100
|
Shanghai Life Technologies Biotechnology Co. Limited
|
China
|
100
|
Applied Biosystems Taiwan LLC
|
Delaware
|
100
|
Life Technologies Co., Ltd.
[42.6% by Applied Biosystems BV]
|
Taiwan
|
57.4
|
Life Technologies Chile SpA
|
Chile
|
100
|
PE AG
|
Switzerland
|
100
|
ZAO PE Biosystems
|
Russia
|
100
|
Thermo Fisher Scientific Life Senior GP Holdings II LLC
|
Delaware
|
100
|
Thermo Fisher Scientific Life Senior GP Holdings LLC
|
Delaware
|
100
|
Thermo Fisher Scientific Life Senior Holdings II C.V.
[.01% by Thermo Fisher Scientific Life Senior GP Holdings II LLC]
|
Netherlands
|
99.99
|
TFSL Senior GP Holdings 2 LLC
|
Delaware
|
100
|
Thermo Fisher Scientific Life Senior Holdings C.V.
[.01% by TFSL Senior GP Holdings 2 LLC]
|
Netherlands
|
99.99
|
TFSL Financing GP LLC
|
Delaware
|
100
|
NAME
|
STATE OR JURISDICTION OF INCORPORATION
|
PERCENT OF OWNERSHIP
|
Thermo Fisher Scientific Life CV GP Holdings LLC
|
Delaware
|
100
|
Thermo Fisher Scientific Life Holdings I C.V.
[.01% by Thermo Fisher Scientific Life CV GP Holdings LLC]
|
Netherlands
|
99.99
|
Thermo Fisher Scientific Life Switzerland Holdings GP LLC
|
Delaware
|
100
|
Thermo Fisher Scientific Switzerland Holdings C.V.
[.01% by Thermo Fisher Scientific Life Switzerland Holdings GP LLC]
|
Netherlands
|
99.99
|
Thermo Fisher Scientific Luxembourg Sweden Holdings II S.à r.l.
|
Luxembourg
|
100
|
SwissAnalytic Group GmbH
|
Switzerland
|
100
|
Thermo Fisher Scientific (Ecublens) SARL
|
Switzerland
|
100
|
Fisher Luxembourg Danish Holdings SARL
|
Luxembourg
|
100
|
Fisher Holdings ApS
|
Denmark
|
100
|
Apogent Denmark ApS
|
Denmark
|
100
|
Fisher BioImage ApS
|
Denmark
|
100
|
Nunc A/S
|
Denmark
|
100
|
Proxeon Biosystems ApS
|
Denmark
|
100
|
Thermo Fisher Scientific Europe GmbH
|
Switzerland
|
100
|
Thermo Fisher Scientific Holdings Europe Limited
|
England
|
100
|
Thermo Fisher Scientific SpA
|
Italy
|
100
|
Erie Electroverre S.A.
|
Switzerland
|
100
|
Kendro Laboratory Products Ltd
|
England
|
100
|
Kendro Containment & Services Limited
|
England
|
100
|
Thermo Fisher Scientific (Johannesburg) (Proprietary) Limited
|
South Africa
|
100
|
Thermo Fisher Scientific (Schweiz) AG
|
Switzerland
|
100
|
Thermo Fisher Scientific Wissenschaftliche Geräte GmbH
|
Austria
|
100
|
Thermo Fisher Scientific (Praha) s.r.o.
|
Czech Republic
|
100
|
Thermo Fisher Scientific Life Technologies Investment I LLC
|
Delaware
|
100
|
Thermo Fisher Scientific Life Technologies Investment II LLC
|
Delaware
|
100
|
Thermo Fisher Scientific Life Technologies Investments Holding LP
[.10% by Thermo Fisher Scientific Life Technologies Investment I LLC]
|
England
|
99.90
|
Thermo Fisher Scientific Life Financing (Cayman)
|
Cayman Islands
|
100
|
Thermo Fisher Scientific Life Financing (Barbados) SRL
|
Barbados
|
100
|
NAME
|
STATE OR JURISDICTION OF INCORPORATION
|
PERCENT OF OWNERSHIP
|
Thermo Fisher Scientific Life Technologies Investment UK II Limited
|
England
|
100
|
Thermo Fisher Scientific Life Holdings Limited
|
England
|
100
|
Thermo Fisher Scientific Life Financing Limited
|
England
|
100
|
Life Technologies Limited
|
Scotland
|
100
|
Matrix MicroScience Ltd.
|
England
|
100
|
Thermo Electron Sweden Forvaltning AB
[10.08% by Dionex Corporation]
|
Sweden
|
89.92
|
Spectra-Physics AB
|
Sweden
|
100
|
Spectra-Physics Holdings Limited
|
England
|
100
|
Thermo Fisher Scientific Japan Holdings III B.V.
|
Netherlands
|
100
|
Thermo Fisher Scientific K.K.
[0% by TFS Breda B.V. - preferred shares]
|
Japan
|
100
|
Thermo Fisher Scientific Spectra-Physics Holdings Luxembourg II S.à r.l.
|
Luxembourg
|
100
|
Thermo MF Physics LLC
|
Delaware
|
100
|
Thermo Fisher Scientific Spectra-Physics Holdings Luxembourg I S.à r.l.
|
Luxembourg
|
100
|
Spectra-Physics Holdings USA, LLC
|
Delaware
|
100
|
Thermo Fisher Scientific Spectra-Physics Investments Malta Limited
[.0000011% by Spectra-Physics Holdings USA, LLC]
|
Malta
|
99.9999989
|
Saroph Sweden AB
|
Sweden
|
100
|
Thermo Electron Sweden AB
|
Sweden
|
100
|
Thermo Life Sciences AB
|
Sweden
|
100
|
Thermo Electron Australia Pty Limited
|
Australia
|
100
|
Thermo Fisher Scientific Australia Senior Holdings Pty Limited
[.5% by Thermo Fisher Scientific Senior Holdings Australia LLC]
|
Australia
|
99.5
|
Thermo Informatics Asia Pacific Pty Ltd.
|
Australia
|
100
|
Thermo Trace Pty Ltd.
|
Australia
|
100
|
Thermo Optek (Australia) Pty Ltd.
|
Australia
|
100
|
Thermo Fisher Scientific Australia Pty Ltd
|
Australia
|
100
|
Lomb Scientific (Aust) Pty Limited
|
Australia
|
100
|
Ajax Finechem Pty Limited
|
Australia
|
100
|
Promedica Pty Limited
|
Australia
|
100
|
NAME
|
STATE OR JURISDICTION OF INCORPORATION
|
PERCENT OF OWNERSHIP
|
Technology Design Solutions Pty Ltd
|
Australia
|
100
|
App-Tek International Pty Ltd
|
Australia
|
100
|
EnviroEquip Pty Ltd
|
Australia
|
100
|
Thermo Fisher Scientific New Zealand Holdings
|
New Zealand
|
100
|
Thermo Fisher Scientific New Zealand Limited
|
New Zealand
|
100
|
Thermo Gamma-Metrics Holdings Pty Ltd.
|
Australia
|
100
|
Thermo Gamma-Metrics Pty Ltd
|
Australia
|
100
|
Intalysis Pty Ltd
|
Australia
|
100
|
Thermo Electron (Chile) S.p.A.
|
Chile
|
100
|
TFS Breda B.V.
[.25% by Thermo Fisher Scientific C.V.]
|
Netherlands
|
99.75
|
Thermo Fisher Scientific Life Financing C.V.
[38.65428508% by Thermo Fisher Scientific Life Holdings I C.V. and 0.00000003% by TFSL Financing GP LLC]
|
Netherlands
|
61.34571489
|
Metavac LLC
|
Delaware
|
100
|
Abgene Inc.
|
Delaware
|
100
|
Apogent Finance Company
|
Delaware
|
100
|
Capitol Vial, Inc.
|
Alabama
|
100
|
Capitol Scientific Products, Inc.
|
New York
|
100
|
Chase Scientific Glass, Inc.
[50% by Apogent Holding Company]
|
Wisconsin
|
50
|
EP Scientific Products LLC
|
Delaware
|
100
|
Erie Scientific Company of Puerto Rico
|
Delaware
|
100
|
Erie Scientific Hungary Kft
|
Hungary
|
100
|
Erie UK Holding Company
|
Delaware
|
100
|
Erie LP Holding LLC
|
Delaware
|
100
|
Thermo Fisher Scientific Erie Financing S.a r.l
|
Luxembourg
|
100
|
Thermo Fisher Scientific Erie 1 Financing (Barbados) SRL
|
Barbados
|
100
|
Erie UK 1 Limited
|
England
|
100
|
Erie Finance Limited
|
England
|
100
|
Thermo Fisher Scientific (Finance I) B.V.
|
Netherlands
|
100
|
Life Technologies Finland Oy
|
Finland
|
100
|
NAME
|
STATE OR JURISDICTION OF INCORPORATION
|
PERCENT OF OWNERSHIP
|
Remel Europe Limited
|
England
|
100
|
Fisher Scientific Investments (Cayman), Ltd.
|
Cayman Islands
|
100
|
Thermo Fisher Scientific Erie Financing (Barbados) SRL
|
Barbados
|
100
|
Erie U.K. Limited
|
England
|
100
|
Nalge Nunc International Corporation
|
Delaware
|
100
|
Thermo Fisher Scientific (Monterrey), S. De R.L. De C.V.
[1% by Nalge Nunc International (Monterrey) LLC]
|
Mexico
|
99
|
236 Perinton Parkway, LLC
|
New York
|
100
|
ARG Services LLC
|
Delaware
|
100
|
Owl Separation Systems LLC
|
Wisconsin
|
100
|
Nalge Nunc International (Monterrey) LLC
|
Delaware
|
100
|
Erie UK Senior Holding Limited
[1.01% by Erie LP Holding LLC]
|
England
|
98.99
|
LambTrack Limited
|
England
|
100
|
Erie UK 2 Limited
|
England
|
100
|
Thermo BioSciences Holdings LLC
|
Delaware
|
100
|
Pierce Biotechnology, Inc.
|
Delaware
|
100
|
Perbio Science, Inc.
|
Delaware
|
100
|
Pierce Milwaukee, Inc.
|
Delaware
|
100
|
Pierce Milwaukee Holding Corp.
|
Delaware
|
100
|
Thermo Fisher Scientific (Milwaukee) LLC
[1% by Pierce Milwaukee, Inc.]
|
Delaware
|
99
|
Advanced Biotechnologies Limited
|
England
|
100
|
Abgene Limited
|
England
|
100
|
Apogent U.K. Limited
|
England
|
100
|
Matrix Technologies Corporation Limited
|
England
|
100
|
Nalge (Europe) Limited
|
England
|
100
|
Chromacol Limited
|
England
|
100
|
Epsom Glass Industries Limited
|
England
|
100
|
Ever Ready Thermometer Co., Inc.
|
Wisconsin
|
100
|
NAME
|
STATE OR JURISDICTION OF INCORPORATION
|
PERCENT OF OWNERSHIP
|
Fisher Asia Manufacturing Ventures Inc.
[20% held privately]
|
British Virgin Islands
|
80
|
Fisher Laboratory Products Manufacturing (Shanghai) Co., Ltd
|
China
|
100
|
Richard-Allan Scientific Company
|
Wisconsin
|
100
|
Lab Vision Corporation
|
California
|
100
|
Lab Vision (UK) Limited
[0.05% by Erie U.K. Limited]
|
England
|
99.95
|
Neomarkers, Inc.
|
California
|
100
|
Microm Laborgerate S.L.U
|
Spain
|
100
|
Samco Scientific LLC
|
Delaware
|
100
|
Samco Scientific (Monterrey) LLC
|
Delaware
|
100
|
Seradyn Inc.
|
Delaware
|
100
|
Applied Scientific Corporation
|
California
|
100
|
Cellomics, Inc.
|
Delaware
|
100
|
Fisher BioSciences Japan, KK
|
Japan
|
100
|
CTPS LLC
|
Delaware
|
100
|
Clintrak Pharmaceutical Services, LLC
|
Delaware
|
100
|
Fisher Clinical Services (Bristol), LLC
|
Delaware
|
100
|
Clintrak Clinical Labeling Services, LLC
|
Delaware
|
100
|
Fisher Clinical Services GmbH
|
Germany
|
100
|
Cenduit GmbH
[50% by Cenduit LLC]
|
Switzerland
|
50
|
Columbia Diagnostics, Inc.
|
Delaware
|
100
|
Drakeside Real Estate Holding Company LLC
|
Delaware
|
100
|
Duke Scientific Corporation
|
California
|
100
|
Fisher Clinical Services Inc.
|
Pennsylvania
|
100
|
Eutech Instruments Pte Ltd.
|
Singapore
|
100
|
Eutech Instruments Europe B.V.
|
Netherlands
|
100
|
Eutech Instruments Sdn Bhd
|
Malaysia
|
100
|
Thermo Fisher Scientific Brasil Serviços de Logística Ltda
[.001% by Fisher BioServices Inc.]
|
Brazil
|
99.999
|
NAME
|
STATE OR JURISDICTION OF INCORPORATION
|
PERCENT OF OWNERSHIP
|
Fisher BioServices Inc.
|
Virginia
|
100
|
Southern Trials (Pty) Ltd.
|
South Africa
|
100
|
Schantz Road LLC
|
Pennsylvania
|
100
|
Specialty (SMI) Inc.
|
California
|
100
|
Fisher Germany Holdings GmbH
|
Germany
|
100
|
Fisher Hamilton China Inc.
|
Delaware
|
100
|
Fisher Manufacturing (Malaysia) Sdn Bhd
|
Malaysia
|
100
|
Fisher Scientific Brazil Inc.
|
Delaware
|
100
|
Systems Manufacturing Corporation
|
Delaware
|
100
|
Fisher Scientific Central America Inc.
|
Delaware
|
100
|
Fisher Scientific Chile Inc.
|
Delaware
|
100
|
Consultores Fisher Scientific Chile Ltd
[50% by Fisher Scientific Worldwide Inc.]
|
Chile
|
50
|
Fisher Scientific Colombia Inc.
|
Delaware
|
100
|
Fisher Scientific Company L.L.C.
|
Delaware
|
100
|
Fisher Scientific Costa Rica Sociedad de Responsabilidad Limitada
|
Costa Rica
|
100
|
Thermo Fisher Scientific Brahms LLC
|
Delaware
|
100
|
Biochemical Sciences LLC
|
Delaware
|
100
|
Fisher Scientific de Mexico S.A.
|
Mexico
|
100
|
Medical Analysis Systems, Inc.
|
Delaware
|
100
|
Medical Analysis Systems International, Inc.
|
California
|
100
|
Medical Diagnostics Systems, Inc.
|
California
|
100
|
United Diagnostics, Inc.
|
Delaware
|
100
|
Fisher Scientific Latin America Inc.
|
Delaware
|
100
|
Fisher Scientific Mexico Inc.
|
Delaware
|
100
|
FS Mexicana Holdings LLC
[.01% by Fisher Scientific Mexicana, S. de R.L. de C.V]
|
Delaware
|
99.99
|
Fisher Alder S. de R.L. de C.V.
[.0020% by Fisher Scientific International LLC]
|
Mexico
|
99.998
|
Fisher Hamilton Mexico LLC
|
Delaware
|
100
|
NAME
|
STATE OR JURISDICTION OF INCORPORATION
|
PERCENT OF OWNERSHIP
|
Fisher Scientific Mexicana, S. de R.L. de C.V.
[.01% by Fisher Scientific Worldwide Inc.]
|
Mexico
|
99.99
|
FS Casa Rocas Holdings LLC
[1% by Fisher Mexico, S. de R.L. de C.V]
|
Delaware
|
99
|
Fisher Mexico, S. de R.L. de C.V.
[.0000269% FS Casa Rocas Holdings LLC]
|
Mexico
|
99.9999731
|
Fisher Scientific Middle East and Africa Inc.
|
Delaware
|
100
|
Fisher Scientific Operating Company
|
Delaware
|
100
|
Fisher Scientific Venezuela Inc.
|
Delaware
|
100
|
Fisher Scientific Worldwide (Shanghai) Co., Ltd.
|
China
|
100
|
FRC Holding Inc., V
|
Delaware
|
100
|
FS (Barbados) Capital Holdings Ltd.
|
Barbados
|
100
|
Golden West Indemnity Company Limited
|
Bermuda
|
100
|
Liberty Lane Real Estate Holding Company LLC
|
Delaware
|
100
|
New FS Holdings Inc.
|
Delaware
|
100
|
Hangar 215, Inc.
|
Delaware
|
100
|
Union Lab Supplies Limited
[50% by Fisher Scientific Worldwide Inc.]
|
Hong Kong
|
50
|
Fisher Scientific Worldwide Inc.
|
Delaware
|
100
|
FSIR Holdings (US) Inc.
[1.265% by Fisher Clinical Services Inc.]
|
Delaware
|
98.735
|
Liberty Lane Investment LLC
|
Delaware
|
100
|
Fisher Scientific Holding Company LLC
|
Delaware
|
100
|
Fisher Scientific Holdings (M) Sdn Bhd
|
Malaysia
|
100
|
Bumi-Sans Sendirian Berhad
|
Malaysia
|
100
|
Fisher Scientific (M) Sdn Bhd
|
Malaysia
|
100
|
General Scientific Company Sdn Bhd (M)
|
Malaysia
|
100
|
Fisher Scientific Holdings (S) Pte Ltd
|
Singapore
|
100
|
Fisher Scientific Pte. Ltd.
[16.57% by Fisher Scientific International LLC]
|
Singapore
|
83.43
|
Fisher Scientific (SEA) Pte. Ltd.
|
Singapore
|
100
|
Fisher Scientific Australia Pty Limited
|
Australia
|
100
|
NAME
|
STATE OR JURISDICTION OF INCORPORATION
|
PERCENT OF OWNERSHIP
|
FSIR Holdings (UK) Limited
|
England
|
100
|
FSWH Company LLC
|
Delaware
|
100
|
FSI Receivables Company LLC
|
Delaware
|
100
|
Fisher Bermuda Holdings Limited
|
Bermuda
|
100
|
Thermo Fisher Scientific FSIR Financing (Barbados) SRL
|
Barbados
|
100
|
Thermo Fisher Scientific FSIR Financing S.a.r.l.
|
Luxembourg
|
100
|
Fisher Scientific Worldwide Holdings I C.V.
[12% by Fisher Scientific Worldwide Inc.]
|
Netherlands
|
88
|
Finesse Solutions, Inc.
|
Delaware
|
100
|
Finesse Scientific Equipment (Shanghai) Co., Ltd.
|
China
|
100
|
Finesse Solutions AG
|
Switzerland
|
100
|
Thermo Fisher Scientific Norway US Investments LLC
|
Delaware
|
100
|
Thermo Fisher Scientific Norway Holdings AS
|
Norway
|
100
|
FSWH International Holdings LLC
|
Delaware
|
100
|
Thermo Fisher Scientific Life Investments US Financing I LLC
[1% by FSIR Holdings (US) Inc.]
|
Delaware
|
99
|
Thermo Fisher Scientific Life Investments III S.a.r.l.
[1% by FSWH International Holdings LLC]
|
Luxembourg
|
99
|
Thermo Fisher Scientific Life Investments Malta I Limited
[.000002% by Thermo Fisher Scientific Life Investments Malta Holding II LLC]
|
Malta
|
99.999998
|
Thermo Fisher Scientific Life Investments Malta Holding II LLC
|
Delaware
|
100
|
Phadia International Holdings C.V.
[10% by FSIR Holdings (US) Inc.]
|
Netherlands
|
90
|
Thermo Fisher Scientific B.V.B.A.
|
Belgium
|
100
|
Thermo Fisher Scientific Worldwide Investments (Cayman)
|
Cayman Islands
|
100
|
Thermo Fisher Scientific Investments (Sweden) S.a.r.l.
[16.086% by CHK Holdings Inc.]
|
Luxembourg
|
83.914
|
Power Sweden Holdings III Aktiebolag
|
Sweden
|
100
|
Thermo Fisher Scientific Investments Malta (Sweden Financing) Limited
[.00000002% by Thermo Fisher Scientific Investments (Sweden) LLC and 26.76040344% by Thermo Fisher Scientific Life Investments I S.a.r.l]
|
Malta
|
73.23959654
|
Thermo Fisher Scientific Investments (Sweden) LLC
|
Delaware
|
100
|
Thermo Fisher Scientific Denmark Senior Holdings ApS
|
Denmark
|
100
|
NAME
|
STATE OR JURISDICTION OF INCORPORATION
|
PERCENT OF OWNERSHIP
|
FSII Sweden Holdings I AB
|
Sweden
|
100
|
Power Sweden Holdings I AB
|
Sweden
|
100
|
FSII Sweden Holdings AB
|
Sweden
|
100
|
Life Technologies Japan Ltd.
|
Japan
|
100
|
Life Technologies, Inc.
|
Canada
|
100
|
Life Technologies GmbH
|
Germany
|
100
|
Genomed molekularbiologische und diagnostische Produkte GmbH
|
Germany
|
100
|
Thermo Fisher Scientific GENEART GmbH
|
Germany
|
100
|
LTC Tech South Africa PTY Ltd.
|
South Africa
|
100
|
Power Sweden Holdings II AB
|
Sweden
|
100
|
Perbio Science AB
|
Sweden
|
100
|
Thermo Fisher Scientific Life Investments II S.à r.l.
|
Luxembourg
|
100
|
Thermo Fisher Scientific Life Investments US Financing II LLC
[1% by Perbio Science Sweden Holdings AB]
|
Delaware
|
99
|
Thermo Fisher Scientific Luxembourg Sweden Holdings I S.à r.l
|
Luxembourg
|
100
|
Thermo Fisher Scientific Life Investments IV S.a.r.l
|
Luxembourg
|
100
|
Thermo Fisher Scientific Life Investments Malta II Limited
[.0000066% by Thermo Fisher Scientific Life Investments Malta Holding I LLC]
|
Malta
|
99.9999934
|
Thermo Fisher Scientific Life Investments Malta Holding I LLC
|
Delaware
|
100
|
Thermo Fisher Scientific Investments (Luxembourg) S.a.r.l.
[1% by FSII Sweden Holdings AB]
|
Luxembourg
|
99
|
Thermo Fisher Scientific Malta Holdings LLC
|
Delaware
|
100
|
Thermo Fisher Scientific Investments (Malta) Limited
[.00000066% by Thermo Fisher Scientific Malta Holdings LLC]
|
Malta
|
99.99999934
|
Life Technologies BPD AB
|
Sweden
|
100
|
Perbio Science Sweden Holdings AB
|
Sweden
|
100
|
Phadia Luxembourg Holdings S.a.r.l.
|
Luxembourg
|
100
|
Phadia Malta Holdings Limited
[.00000063% by Perbio Science Sweden Holdings AB]
|
Malta
|
99.99999937
|
Fisher Scientific GTF AB
|
Sweden
|
100
|
Fisher Scientific Biotech Line ApS
|
Denmark
|
100
|
CB Diagnostics Holding AB
|
Sweden
|
100
|
NAME
|
STATE OR JURISDICTION OF INCORPORATION
|
PERCENT OF OWNERSHIP
|
CB Diagnostics AB
|
Sweden
|
100
|
Sweden DIA (Sweden) AB
|
Sweden
|
100
|
Phadia Sweden AB
|
Sweden
|
100
|
Phadia Holding AB
|
Sweden
|
100
|
Phadia Diagnosticos Ltda
[1% by Phadia AB]
|
Brazil
|
99
|
Oxoid Brasil LTDA
|
Brazil
|
100
|
Beijing Phadia Diagnostics Co Ltd
|
China
|
100
|
Allergon AB
|
Sweden
|
100
|
Nanjing WeiKangLe Trading Industrial Co Ltd
|
China
|
100
|
Laboratory Specialties Proprietary Ltd.
|
South Africa
|
100
|
Phadia AB
|
Sweden
|
100
|
Phadia Real Property AB
|
Sweden
|
100
|
Phadia US Inc.
|
Delaware
|
100
|
Life Technologies BPD UK Limited
|
England
|
100
|
Perbio Science UK Limited
|
England
|
100
|
Perbio Science Invest AB
|
Sweden
|
100
|
Perbio Science Nederland B.V.
|
Netherlands
|
100
|
Perbio Science Projekt AB
|
Sweden
|
100
|
Perbio Science Switzerland SA
[.3% held privately]
|
Switzerland
|
99.7
|
Thermo Fisher Scientific Life Investments I S.à r.l.
|
Luxembourg
|
100
|
Fisher Scientific Holding HK Limited
[.01% by Fisher Scientific Holding Company LLC]
|
Hong Kong
|
99.99
|
Fisher Scientific (Hong Kong) Limited
[.022% Fisher Scientific Holding Company LLC]
|
Hong Kong
|
99.978
|
FSWH II C.V.
[.0328% by Fisher WWD Holding L.L.C. and 1.4695% by Fisher Clinical Services Inc.]
|
Netherlands
|
98.4977
|
Thermo Fisher Senior Canada Holdings LLC
|
Delaware
|
100
|
Thermo Fisher Insurance Holdings Inc.
|
Delaware
|
100
|
Perbio Science BVBA
|
Belgium
|
100
|
NAME
|
STATE OR JURISDICTION OF INCORPORATION
|
PERCENT OF OWNERSHIP
|
Thermo Fisher Insurance Holdings LLC
[45.62% by Thermo Fisher Re Ltd.]
|
Delaware
|
54.38
|
Thermo Scientific Microbiology Sdn Bhd
|
Malaysia
|
100
|
Thermo Scientific Microbiology Pte Ltd.
|
Singapore
|
100
|
Fisher Canada Holding ULC 1
|
Canada
|
100
|
Fisher Canada Holding ULC 2
|
Canada
|
100
|
Fisher CLP Holding Limited Partnership
[1.6% by Fisher Canada Holding ULC 2]
|
Canada
|
98.4
|
Thermo Fisher Scientific Beteiligungsverwaltungs GmbH
|
Germany
|
100
|
Phadia ApS
|
Denmark
|
100
|
Phadia s.r.o.
[1% by Phadia AB]
|
Czech Republic
|
99
|
Phadia Taiwan Inc.
|
Taiwan
|
100
|
Phadia AG
|
Switzerland
|
100
|
Thermo Fisher Diagnostics Limited
|
England
|
100
|
Thermo Fisher Diagnostics K.K.
|
Japan
|
100
|
Phadia Austria GmbH
|
Austria
|
100
|
Phadia N.V.
[.0016% by Thermo Fisher Diagnostics Limited]
|
Belgium
|
99.9984
|
Thermo Fisher Diagnostics, Sociedade Unipessoal Lda
|
Portugal
|
100
|
Thermo Fisher Diagnostics, S.L.U.
|
Spain
|
100
|
Phadia Oy
|
Finland
|
100
|
Fiberlite Centrifuge LLC
|
Delaware
|
100
|
Fisher Canada Limited Partnership
[1.14% by Fisher Canada Holding ULC 2]
|
Canada
|
98.86
|
Fisher Scientific Company
|
Canada
|
100
|
Thermo Fisher Scientific FSUKHCO Financing (Barbados) SRL
|
Barbados
|
100
|
Diagnostix Ltd.
|
Canada
|
100
|
Fisher Scientific Oxoid Holdings Ltd.
|
England
|
100
|
Oxoid Company
|
Canada
|
100
|
Fisher Scientific Luxembourg S.a.r.l.
|
Luxembourg
|
100
|
Perbio Science International Netherlands B.V.
|
Netherlands
|
100
|
NAME
|
STATE OR JURISDICTION OF INCORPORATION
|
PERCENT OF OWNERSHIP
|
Perbio Science (Canada) Company
|
Canada
|
100
|
Fisher Scientific UK Holding Company Limited
|
England
|
100
|
Fisher Scientific Oy
|
Finland
|
100
|
Fisher Scientific Norway AS
|
Norway
|
100
|
Fisher Scientific A/S
|
Norway
|
100
|
Doublecape Holding Limited
|
England
|
100
|
I.Q. (BIO) Limited
|
England
|
100
|
Oxoid (ELY) Limited
|
England
|
100
|
Doublecape Limited
|
England
|
100
|
Fisher Scientific Ireland Limited
|
Ireland
|
100
|
Doe & Ingalls Limited
|
Ireland
|
100
|
Fisher Scientific Holding U.K., Limited
|
England
|
100
|
Fisher Scientific U.K., Limited
|
England
|
100
|
Orme Scientific Limited
|
England
|
100
|
FSUK Holdings Limited
|
England
|
100
|
Sterilin Limited
|
England
|
100
|
Fisher Scientific UK Holding Company 2
|
England
|
100
|
Fisher Clinical Services U.K. Limited
|
England
|
100
|
Fisher Clinical Services Pte Ltd.
|
Singapore
|
100
|
Fisher Clinical Services (Beijing) Co., Ltd.
|
China
|
100
|
Fisher Scientific Europe Holdings B.V.
|
Netherlands
|
100
|
Fisher Scientific The Hague III B.V.
|
Netherlands
|
100
|
Fisher Scientific The Hague IV B.V.
[4.545% by Fisher Scientific The Hague I B.V.]
|
Netherlands
|
95.455
|
Acros Organics B.V.B.A.
[.0001% by Fisher Scientific The Hague II B.V. and .0206% by Fisher Chimica BVBA]
|
Belgium
|
99.9794
|
Fisher Scientific AG
[17.55% by Fisher Scientific S.A.S.]
|
Switzerland
|
82.45
|
Ecochem N.V.
[.33% by Fisher Chimica BVBA]
|
Belgium
|
99.67
|
Fisher Chimica BVBA
[.01% by Fisher Scientific The Hague II B.V.]
|
Belgium
|
99.99
|
NAME
|
STATE OR JURISDICTION OF INCORPORATION
|
PERCENT OF OWNERSHIP
|
Fisher Scientific The Hague V B.V.
|
Netherlands
|
100
|
Fisher Scientific Ireland Holding Unlimited
[1% by Fisher Scientific Europe Holdings B.V.]
|
Ireland
|
99
|
Fisher Clinical Services GmbH
|
Switzerland
|
100
|
Fisher BioPharma Services (India) Private Limited [.315% by Fisher Clinical Services U.K. Limited]
|
India
|
99.685
|
Fisher Scientific Ireland Investments Unlimited
[.10% by Fisher Scientific Europe Holdings B.V.]
|
Ireland
|
99.90
|
Fisher Scientific of the Netherlands B.V.
|
Netherlands
|
100
|
Fisher Emergo B.V.
|
Netherlands
|
100
|
Fisher Scientific The Hague II B.V.
|
Netherlands
|
100
|
Fisher Scientific The Hague I B.V.
|
Netherlands
|
100
|
Fisher Scientific Jersey Island Limited
|
Jersey
|
100
|
Fisher Maybridge Holdings Limited
|
England
|
100
|
Maybridge Chemical Holdings Limited
|
England
|
100
|
Maybridge Limited
|
England
|
100
|
Maybridge Chemical Company Limited
|
England
|
100
|
Fisher Bioblock Holding II SNC
[.99% by Fisher Scientific The Hague II BV]
|
France
|
99.01
|
Thermo Electron Holdings SAS
[22.12% by Fisher Canada Limited Partnership]
|
France
|
77.88
|
Inel SAS
|
France
|
100
|
Inel Inc.
|
Delaware
|
100
|
Thermo Electron SAS
|
France
|
100
|
Thermo Electron LED S.A.S.
|
France
|
100
|
Jouan Limited
|
England
|
100
|
Thermo Electron Industries
|
France
|
100
|
S.C.I. du 10 rue Dugay Trouin
[2% by Thermo Electron Industries]
|
France
|
98
|
Thermo Fisher Scientific Milano Srl
[.05% by Thermo Electron Industries]
|
Italy
|
99.95
|
Jouan Robotics SAS
|
France
|
100
|
Perbio Science France SAS
|
France
|
100
|
NAME
|
STATE OR JURISDICTION OF INCORPORATION
|
PERCENT OF OWNERSHIP
|
Fisher Scientific S.A.S.
|
France
|
100
|
Avantec Sarl
|
France
|
100
|
Fisher Scientific SPRL
[.1% by Fisher Bioblock Holding II SNC]
|
Belgium
|
99.9
|
NOVODIRECT GmbH Labor- und Industrie- Meßgeräte
|
Germany
|
100
|
SCI Inno 92
[.0004% held privately]
|
France
|
99.9996
|
Fisher Scientific, SL
|
Spain
|
100
|
Fisher Scientific, Unipessoal, Lda.
|
Portugal
|
100
|
Afora, S.A.U.
|
Spain
|
100
|
Bonsai Tecnologies - Sistemas para Biotecnología e Industria, Unipessoal Lda
|
Portugal
|
100
|
Oxoid Holding SAS
|
France
|
100
|
Thermo Fisher Diagnostics SAS
|
France
|
100
|
Oxoid Senior Holdings Limited
|
England
|
100
|
Oxoid UKH LLC
|
Delaware
|
100
|
Oxoid 2000 Limited
|
England
|
100
|
Oxoid Holdings Limited
|
England
|
100
|
Oxoid International Limited
|
England
|
100
|
Oxoid Australia Pty. Limited
|
Australia
|
100
|
OXOID CZ s.r.o.
[1% by Oxoid Limited]
|
Czech Republic
|
99
|
Thermo Fisher Diagnostics AS
|
Denmark
|
100
|
Oxoid AS
|
Norway
|
100
|
Phadia AS
|
Norway
|
100
|
Oxoid AB
|
Sweden
|
100
|
Oxoid AG
|
Switzerland
|
100
|
Oxoid B.V.
|
Netherlands
|
100
|
Phadia B.V.
|
Netherlands
|
100
|
Oxoid Inc.
|
Delaware
|
100
|
Oxoid New Zealand Limited
|
New Zealand
|
100
|
NAME
|
STATE OR JURISDICTION OF INCORPORATION
|
PERCENT OF OWNERSHIP
|
Oxoid N.V.
[.01% by Oxoid Limited]
|
Belgium
|
99.99
|
Thermo Fisher Diagnostics S.p.A.
|
Italy
|
100
|
Oxoid Limited
|
England
|
100
|
Thermo Fisher (Heysham) Limited
|
England
|
100
|
Avocado Research Chemicals Limited
|
England
|
100
|
Thermo Fisher (Kandel) GmbH
|
Germany
|
100
|
G & M Procter Limited
|
Scotland
|
100
|
Oxoid Limited
|
Ireland
|
100
|
Oxoid Pension Trustees Limited
|
England
|
100
|
Fisher Scientific Japan, Ltd.
|
Japan
|
100
|
Fisher Scientific Korea Ltd
|
Korea
|
100
|
Fisher WWD Holding L.L.C.
|
Delaware
|
100
|
Kyle Jordan Investments LLC
|
Delaware
|
100
|
Pacific Rim Far East Industries LLC
|
Delaware
|
100
|
Pacific Rim Investment, LLC
|
Delaware
|
100
|
Marketbase International Limited
|
Hong Kong
|
100
|
Thermo-Fisher Biochemical Product (Beijing) Co., Ltd.
|
China
|
100
|
Thermo Fisher Scientific HR Services Mexico, S. de R.L. de C.V.
[1% by Fisher Clinical Services (Mexico) LLC]
|
Mexico
|
99
|
Thermo Fisher Scientific China (C-I) LLC
|
Delaware
|
100
|
Shanghai Thermo Fisher (C-I) Trading Co. Ltd
|
China
|
100
|
Thermo Fisher Scientific China (S) LLC
|
Delaware
|
100
|
Shanghai Thermo Fisher (S) Trading Co. Ltd
|
China
|
100
|
Molecular Transfer, Inc.
|
Delaware
|
100
|
Thermo Fisher Scientific Cyprus I Ltd
|
Cayman Islands
|
100
|
Thermo Fisher Scientific Cyprus II Ltd
|
Cayman Islands
|
100
|
Thermo Fisher India Divestco Private Limited
[.01% by Thermo Fisher Scientific India Holding LLC]
|
India
|
99.99
|
Thermo Fisher Scientific India Holding LLC
|
Delaware
|
100
|
Thermo Fisher Scientific Cyprus III Ltd
|
Cayman Islands
|
100
|
1.
|
I have reviewed this Annual Report on Form 10-K of Thermo Fisher Scientific Inc.;
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
4.
|
The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
a)
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
b)
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
c)
|
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
d)
|
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
|
5.
|
The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
|
a)
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
|
b)
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
|
/s/ Marc N. Casper
|
|
|
Marc N. Casper
President and Chief Executive Officer
|
|
1.
|
I have reviewed this Annual Report on Form 10-K of Thermo Fisher Scientific Inc.;
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
4.
|
The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
a)
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
b)
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
c)
|
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
d)
|
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
|
5.
|
The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
|
a)
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
|
b)
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
|
/s/ Stephen Williamson
|
|
|
Stephen Williamson
Senior Vice President and Chief Financial Officer |
|
|
/s/ Marc N. Casper
|
|
|
Marc N. Casper
President and Chief Executive Officer
|
|
|
/s/ Stephen Williamson
|
|
|
Stephen Williamson
Senior Vice President and Chief Financial Officer
|
|