Document_and_Entity_Informatio
Document and Entity Information (USD $) | 9 Months Ended | |
Sep. 28, 2013 | Jun. 30, 2012 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'Thermo Fisher Scientific Inc. | ' |
Entity Central Index Key | '0000097745 | ' |
Document Type | '10-Q | ' |
Document Period End Date | 28-Sep-13 | ' |
Amendment Flag | 'false | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' |
Entity Voluntary Filers | 'No | ' |
Entity Current Reporting Status | 'Yes | ' |
Entity Filer Category | 'Large Accelerated Filer | ' |
Entity Public Float | ' | $18,917,793,000 |
Entity Common Stock, Shares Outstanding | 361,367,293 | ' |
Consolidated_Balance_Sheet_Una
Consolidated Balance Sheet (Unaudited) (USD $) | Sep. 28, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Current Assets: | ' | ' |
Cash and cash equivalents | $1,845.60 | $805.60 |
Short-term investments, at quoted market value (cost of $4.6 and $4.8) | 4.2 | 4.3 |
Accounts receivable, less allowances of $55.6 and $55.5 | 1,945.10 | 1,804.90 |
Inventories | 1,546.80 | 1,443.30 |
Deferred tax assets | 181.6 | 182 |
Other current assets | 687.1 | 594.7 |
Total current assets | 6,210.40 | 4,834.80 |
Property, Plant and Equipment, at Cost, Net | 1,708.70 | 1,726.40 |
Acquisition-related Intangible Assets, Net | 7,248.20 | 7,804.50 |
Other Assets | 609.9 | 604.4 |
Goodwill | 12,495.30 | 12,474.50 |
Total Assets | 28,272.50 | 27,444.60 |
Current Liabilities: | ' | ' |
Short-term obligations and current maturities of long-term obligations | 393.6 | 93.1 |
Accounts payable | 672.7 | 641.4 |
Accrued payroll and employee benefits | 388.7 | 388 |
Deferred revenue | 197.9 | 196.5 |
Other accrued expenses | 800.1 | 774.3 |
Total current liabilities | 2,453 | 2,093.30 |
Deferred Income Taxes | 1,852.60 | 2,047.20 |
Other Long-term Liabilities | 811.7 | 808.2 |
Long-term Obligations | 6,717.90 | 7,031.20 |
Shareholders' Equity: | ' | ' |
Preferred stock, $100 par value, 50,000 shares authorized; none issued | ' | ' |
Common stock, $1 par value, 1,200,000,000 shares authorized; 419,000,251 and 413,491,691 shares issued | 419 | 413.5 |
Capital in excess of par value | 10,812.50 | 10,501.10 |
Retained earnings | 8,465.70 | 7,697.30 |
Treasury stock at cost, 57,632,958 and 56,047,926 shares | -3,109.50 | -2,996.80 |
Accumulated other comprehensive items | -150.4 | -150.4 |
Total shareholders' equity | 16,437.30 | 15,464.70 |
Total Liabilities & Shareholders' Equity | $28,272.50 | $27,444.60 |
Consolidated_Balance_Sheet_Una1
Consolidated Balance Sheet (Unaudited) (Parenthetical) (USD $) | Sep. 28, 2013 | Dec. 31, 2012 |
In Millions, except Share data, unless otherwise specified | ||
Consolidated Balance Sheet Parenthetical [Abstract] | ' | ' |
Cost of Short-term Investments | $4.60 | $4.80 |
Accounts Receivable Allowances | $55.60 | $55.50 |
Preferred Stock, $100 Par Value - Par Value (in dollars per share) | $100 | $100 |
Preferred Stock, $100 Par Value - Shares Authorized (in shares) | 50,000 | 50,000 |
Preferred Stock, $100 Par Value - Shares Issued (in shares) | 0 | 0 |
Common Stock, $1 Par Value - Par Value (in dollars per share) | $1 | $1 |
Common Stock, $1 Par Value - Shares Authorized (in shares) | 1,200,000,000 | 1,200,000,000 |
Common Stock, $1 Par Value - Shares Issued (in shares) | 419,000,251 | 413,491,691 |
Treasury Stock at Cost (in shares) | 57,632,958 | 56,047,926 |
Consolidated_Statement_of_Inco
Consolidated Statement of Income (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 28, 2013 | Sep. 29, 2012 |
Revenues | ' | ' | ' | ' |
Product revenues | $2,730.80 | $2,651 | $8,241.10 | $7,958.50 |
Service revenues | 461 | 434.7 | 1,382.30 | 1,292.10 |
Total revenues | 3,191.80 | 3,085.70 | 9,623.40 | 9,250.60 |
Costs and Operating Expenses: | ' | ' | ' | ' |
Cost of product revenues | 1,546.60 | 1,510.60 | 4,652.20 | 4,510.50 |
Cost of service revenues | 297.3 | 276.7 | 923.8 | 830.7 |
Selling, general and administrative expenses | 848.5 | 839 | 2,547.60 | 2,498.30 |
Research and development expenses | 95.9 | 92 | 290.8 | 277.9 |
Restructuring and other costs, net | 11.4 | 15.2 | 54.4 | 51.7 |
Total costs and operating expenses | 2,799.70 | 2,733.50 | 8,468.80 | 8,169.10 |
Operating Income | 392.1 | 352.2 | 1,154.60 | 1,081.50 |
Other Expense, Net | -73.1 | -55.8 | -212.7 | -155.6 |
Income from Continuing Operations Before Income Taxes | 319 | 296.4 | 941.9 | 925.9 |
(Provision for) Benefit from Income Taxes | -1.3 | 3 | -5.8 | -53.3 |
Income from Continuing Operations | 317.7 | 299.4 | 936.1 | 872.6 |
Loss from Discontinued Operations (net of income tax benefit of $0.1, $2.7, $0.4 and $9.9) | -0.1 | -4.1 | -0.7 | -15.4 |
Loss on Disposal of Discontinued Operations, Net (net of income tax benefit of $0.0, $11.5, $2.8 and $34.6) | 0 | -4.9 | -4.2 | -55.7 |
Net Income | $317.60 | $290.40 | $931.20 | $801.50 |
Earnings per Share from Continuing Operations | ' | ' | ' | ' |
Basic (in dollars per share) | $0.88 | $0.83 | $2.60 | $2.39 |
Diluted (in dollars per share) | $0.86 | $0.82 | $2.57 | $2.37 |
Earnings per Share | ' | ' | ' | ' |
Basic (in dollars per share) | $0.88 | $0.80 | $2.59 | $2.19 |
Diluted (in dollars per share) | $0.86 | $0.79 | $2.56 | $2.18 |
Weighted Average Shares | ' | ' | ' | ' |
Basic (in millions of shares) | 361.2 | 362.6 | 359.8 | 365.6 |
Diluted (in millions of shares) | 367.3 | 365.4 | 364.1 | 368.2 |
Cash Dividend Declared per Common Share (in dollars per share) | $0.15 | $0.13 | $0.45 | $0.39 |
Consolidated_Statement_of_Inco1
Consolidated Statement of Income (Unaudited) (Parenthetical) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 28, 2013 | Sep. 29, 2012 |
Consolidated Income Statement Parenthetical [Abstract] | ' | ' | ' | ' |
Provision for (Benefit from) Income Taxes on Income (Loss) from Discontinued Operations | ($0.10) | ($2.70) | ($0.40) | ($9.90) |
Provision for (Benefit From) Income Taxes on Gain (Loss) on Disposal of Discontinued Operations | $0 | ($11.50) | ($2.80) | ($34.60) |
Consolidated_Statement_of_Comp
Consolidated Statement of Comprehensive Income (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 28, 2013 | Sep. 29, 2012 |
Comprehensive Income (Loss) | ' | ' | ' | ' |
Net income | $317.60 | $290.40 | $931.20 | $801.50 |
Other Comprehensive Items: | ' | ' | ' | ' |
Currency translation adjustment | 308.8 | 256.8 | -6.2 | 194.7 |
Unrealized gains and losses on available-for-sale investments: | ' | ' | ' | ' |
Unrealized holding gains arising during the period (net of tax provision (benefit) of $0.1, $0.0, $0.4 and $(0.1)) | 0.1 | 0 | 1.2 | 0.1 |
Reclassification adjustment for gains included in net income (net of tax provision of $0.0, $0.0, $2.5 and $0.0) | 0 | 0 | -8 | 0 |
Unrealized gains and losses on hedging instruments: | ' | ' | ' | ' |
Unrealized (loss) gain on hedging instruments (net of tax (benefit) provision of $(1.1), $0.0, $3.0 and $0.0) | -1.7 | 0 | 5 | 0 |
Reclassification adjustment for losses included in net income (net of tax benefit of $0.6, $0.5, $1.6 and $1.5) | 0.8 | 0.8 | 2.4 | 2.4 |
Pension and other postretirement benefit liability adjustment: | ' | ' | ' | ' |
Pension and other postretirement benefit liability adjustments arising during the period (net of tax benefit of $1.7, $0.4, $0.2 and $0.5) | -4.4 | -1.3 | -0.2 | -1.3 |
Amortization of net loss and prior service benefit included in net periodic pension cost (net of tax benefit of $0.8, $0.4, $2.6 and $1.6) | 2 | 1.1 | 5.8 | 3.3 |
Net other comprehensive items | 305.6 | 257.4 | 0 | 199.2 |
Comprehensive Income (Loss) | $623.20 | $547.80 | $931.20 | $1,000.70 |
Consolidated_Statement_of_Comp1
Consolidated Statement of Comprehensive Income (Unaudited) (Parenthetical) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 28, 2013 | Sep. 29, 2012 |
Statement of Income and Comprehensive Income [Abstract] | ' | ' | ' | ' |
Tax provision (benefit) on unrealized holding gains and losses on available-for-sale investments arising during the period | $0.10 | $0 | $0.40 | ($0.10) |
Tax provision (benefit) on reclassification adjustment for gains on available-for-sale investments recognized in net income | 0 | 0 | 2.5 | 0 |
Tax provision (benefit) on unrealized holding gains and losses on hedging instruments arising during the period | -1.1 | 0 | 3 | 0 |
Tax provision (benefit) on reclassification adjustment for losses on hedging instruments recognized in net income | -0.6 | -0.5 | -1.6 | -1.5 |
Tax provision (benefit) on pension and other postretirement benefit liability adjustments arising during the period | -1.7 | -0.4 | -0.2 | -0.5 |
Tax provision (benefit) on amortization of net loss and prior service benefit included in net periodic pension cost | ($0.80) | ($0.40) | ($2.60) | ($1.60) |
Consolidated_Statement_of_Cash
Consolidated Statement of Cash Flows (Unaudited) (USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 |
Operating Activities | ' | ' |
Net income | $931.20 | $801.50 |
Loss from discontinued operations | 0.7 | 15.4 |
Loss on disposal of discontinued operations | 4.2 | 55.7 |
Income from continuing operations | 936.1 | 872.6 |
Adjustments to reconcile income from continuing operations to net cash provided by operating activities: | ' | ' |
Depreciation and amortization | 750.6 | 729.3 |
Change in deferred income taxes | -204.5 | -243.3 |
Non-cash stock-based compensation | 66.6 | 57.8 |
Non-cash charges for sale of inventories revalued at the date of acquisition | 23.9 | 40.1 |
Tax benefits from stock-based compensation awards | -39.8 | -12.8 |
Other non-cash expenses, net | 17 | 29.1 |
Changes in assets and liabilities, excluding the effects of acquisitions and dispositions: | ' | ' |
Accounts receivable | -155.3 | -16.2 |
Inventories | -129.7 | -132.6 |
Other assets | -69 | -81.2 |
Accounts payable | 49.1 | 71.2 |
Other liabilities | 66.1 | 102.9 |
Contributions to retirement plans | -25.6 | -16.3 |
Net cash provided by continuing operations | 1,285.50 | 1,400.60 |
Net cash used in discontinued operations | -3.3 | -21.2 |
Net cash provided by operating activities | 1,282.20 | 1,379.40 |
Investing Activities | ' | ' |
Acquisitions, net of cash acquired | -5.5 | -1,072.40 |
Purchase of property, plant and equipment | -187.9 | -210.7 |
Proceeds from sale of property, plant and equipment | 15.9 | 11.6 |
Increase in restricted cash | -24.7 | -33.7 |
Other investing activities, net | 8.9 | 1.7 |
Net cash used in continuing operations | -193.3 | -1,303.50 |
Net cash provided by discontinued operations | 0 | 3.4 |
Net cash used in investing activities | -193.3 | -1,300.10 |
Financing Activities | ' | ' |
Decrease in commercial paper, net | 0 | -849.3 |
Net proceeds from issuance of long-term debt | 0 | 1,282.30 |
Purchases of company common stock | -89.8 | -800 |
Dividends paid | -162 | -95.3 |
Net proceeds from issuance of company common stock | 204.9 | 131.3 |
Tax benefits from stock-based compensation awards | 39.8 | 12.8 |
(Decrease) increase in short-term notes payable | -0.7 | 14.4 |
Other financing activities, net | -5.7 | -6.5 |
Net cash used in financing activities | -13.5 | -310.3 |
Exchange Rate Effect on Cash | -35.4 | 13 |
Increase (Decrease) in Cash and Cash Equivalents | 1,040 | -218 |
Cash and Cash Equivalents at Beginning of Period | 805.6 | 1,016.30 |
Cash and Cash Equivalents at End of Period | $1,845.60 | $798.30 |
Consolidated_Statement_of_Shar
Consolidated Statement of Shareholders' Equity (Unaudited) (USD $) | Total | Common Stock [Member] | Capital in Excess of Par Value [Member] | Retained Earnings [Member] | Treasury Stock [Member] | Accumulated Other Comprehensive Items [Member] |
In Millions, unless otherwise specified | ||||||
Balance at Dec. 31, 2011 | $15,038.10 | $406.40 | $10,152 | $6,716.30 | ($1,837.10) | ($399.50) |
Balance (in shares) at Dec. 31, 2011 | ' | 406.4 | ' | ' | 35 | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' |
Issuance of shares under employees' and directors' stock plans (in shares) | ' | 4.2 | ' | ' | 0.2 | ' |
Issuance of shares under employees' and directors' stock plans | 129.6 | 4.2 | 134.9 | ' | -9.5 | ' |
Stock-based compensation | 57.8 | ' | 57.8 | ' | ' | ' |
Tax benefit related to employees' and directors' stock plans | 9.8 | ' | 9.8 | ' | ' | ' |
Purchases of company common stock (in shares) | ' | ' | ' | ' | 15.1 | ' |
Purchases of company common stock | -800 | ' | ' | ' | -800 | ' |
Dividends declared | -143 | ' | ' | -143 | ' | ' |
Net income | 801.5 | ' | ' | 801.5 | ' | ' |
Other comprehensive items | 199.2 | ' | ' | ' | ' | 199.2 |
Other | -2.5 | ' | -2.5 | ' | ' | ' |
Balance at Sep. 29, 2012 | 15,290.50 | 410.6 | 10,352 | 7,374.80 | -2,646.60 | -200.3 |
Balance (in shares) at Sep. 29, 2012 | ' | 410.6 | ' | ' | 50.3 | ' |
Balance at Dec. 31, 2012 | 15,464.70 | 413.5 | 10,501.10 | 7,697.30 | -2,996.80 | -150.4 |
Balance (in shares) at Dec. 31, 2012 | ' | 413.5 | ' | ' | 56 | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' |
Issuance of shares under employees' and directors' stock plans (in shares) | ' | 5.5 | ' | ' | 0.3 | ' |
Issuance of shares under employees' and directors' stock plans | 190.6 | 5.5 | 208 | ' | -22.9 | ' |
Stock-based compensation | 66.6 | ' | 66.6 | ' | ' | ' |
Tax benefit related to employees' and directors' stock plans | 37.6 | ' | 37.6 | ' | ' | ' |
Purchases of company common stock (in shares) | ' | ' | ' | ' | 1.3 | ' |
Purchases of company common stock | -89.8 | ' | ' | ' | -89.8 | ' |
Dividends declared | -162.8 | ' | ' | -162.8 | ' | ' |
Net income | 931.2 | ' | ' | 931.2 | ' | ' |
Other comprehensive items | 0 | ' | ' | ' | ' | 0 |
Other | -0.8 | ' | -0.8 | ' | ' | ' |
Balance at Sep. 28, 2013 | $16,437.30 | $419 | $10,812.50 | $8,465.70 | ($3,109.50) | ($150.40) |
Balance (in shares) at Sep. 28, 2013 | ' | 419 | ' | ' | 57.6 | ' |
Nature_of_Operations_and_Summa
Nature of Operations and Summary of Significant Accounting Policies | 9 Months Ended | ||||||||||||||||||||
Sep. 28, 2013 | |||||||||||||||||||||
Nature of Operations and Summary of Significant Accounting Policies [Abstract] | ' | ||||||||||||||||||||
Nature of Operations and Summary of Significant Accounting Policies [Text Block] | ' | ||||||||||||||||||||
Note 1. Nature of Operations and Summary of Significant Accounting Policies | |||||||||||||||||||||
Nature of Operations | |||||||||||||||||||||
Thermo Fisher Scientific Inc. (the company or Thermo Fisher) enables customers to make the world healthier, cleaner and safer by providing analytical instruments, equipment, reagents and consumables, software and services for research, manufacturing, analysis, discovery and diagnostics. Markets served include pharmaceutical and biotech companies, hospitals and clinical diagnostic labs, universities, research institutions and government agencies, as well as environmental and industrial process control settings. | |||||||||||||||||||||
Interim Financial Statements | |||||||||||||||||||||
The interim consolidated financial statements presented herein have been prepared by the company, are unaudited and, in the opinion of management, reflect all adjustments of a normal recurring nature necessary for a fair statement of the financial position at September 28, 2013, the results of operations for the three- and nine-month periods ended September 28, 2013, and September 29, 2012, and the cash flows for the nine-month periods ended September 28, 2013, and September 29, 2012. Interim results are not necessarily indicative of results for a full year. | |||||||||||||||||||||
The consolidated balance sheet presented as of December 31, 2012, has been derived from the audited consolidated financial statements as of that date. The consolidated financial statements and notes are presented as permitted by Form 10-Q and do not contain all of the information that is included in the annual financial statements and notes of the company. The consolidated financial statements and notes included in this report should be read in conjunction with the 2012 financial statements and notes included in the company's Current Report on Form 8-K filed with the Securities and Exchange Commission (SEC) on May 3, 2013. | |||||||||||||||||||||
Note 1 to the consolidated financial statements for 2012 describes the significant accounting estimates and policies used in preparation of the consolidated financial statements. There have been no material changes in the company's significant accounting policies during the nine months ended September 28, 2013. | |||||||||||||||||||||
Presentation | |||||||||||||||||||||
Certain reclassifications of prior year amounts have been made to conform to the current year presentation. | |||||||||||||||||||||
During 2013, the company determined that $45 million of cash that was restricted from withdrawal due to serving as collateral for short-term borrowings in Asia was included in its previously reported year-end 2012 cash balance. Presentation of this amount has been revised to other current assets from cash in the accompanying balance sheet as of December 31, 2012 to properly reflect the restriction on withdrawal. Cash used for investing activities in the accompanying cash flow statement for the first nine months of 2012 reflects an increase of $34 million from previously reported amounts for the increase in restricted cash as of September 29, 2012. The company has evaluated the impact of this revision, which had no impact on net income, net assets or cash flows from operations, and concluded it is immaterial to all prior period financial statements. Restricted cash totaled $79 million as of September 28, 2013 and was primarily classified as other current assets on the accompanying balance sheet. Of this amount, $70 million represented collateral for short-term borrowings in Asia. | |||||||||||||||||||||
Warranty Obligations | |||||||||||||||||||||
Product warranties are included in other accrued expenses in the accompanying balance sheet. The changes in the carrying amount of warranty obligations are as follows: | |||||||||||||||||||||
Nine Months Ended | |||||||||||||||||||||
September 28, | September 29, | ||||||||||||||||||||
(In millions) | 2013 | 2012 | |||||||||||||||||||
Beginning Balance | $ | 48.7 | $ | 42.2 | |||||||||||||||||
Provision charged to income | 51.8 | 48.7 | |||||||||||||||||||
Usage | -54.2 | -42.5 | |||||||||||||||||||
Adjustments to previously provided warranties, net | 0.7 | -0.4 | |||||||||||||||||||
Other, net | — | -0.2 | |||||||||||||||||||
Ending Balance | $ | 47 | $ | 47.8 | |||||||||||||||||
Inventories | |||||||||||||||||||||
The components of inventories are as follows: | |||||||||||||||||||||
September 28, | December 31, | ||||||||||||||||||||
(In millions) | 2013 | 2012 | |||||||||||||||||||
Raw Materials | $ | 373.2 | $ | 362 | |||||||||||||||||
Work in Process | 177.2 | 149.7 | |||||||||||||||||||
Finished Goods | 996.4 | 931.6 | |||||||||||||||||||
$ | 1,546.80 | $ | 1,443.30 | ||||||||||||||||||
Property, Plant and Equipment | |||||||||||||||||||||
Property, plant and equipment consists of the following: | |||||||||||||||||||||
September 28, | December 31, | ||||||||||||||||||||
(In millions) | 2013 | 2012 | |||||||||||||||||||
Land | $ | 213.3 | $ | 216.6 | |||||||||||||||||
Buildings and Improvements | 806.6 | 805.5 | |||||||||||||||||||
Machinery, Equipment and Leasehold Improvements | 1,972.70 | 1,829.90 | |||||||||||||||||||
2,992.60 | 2,852.00 | ||||||||||||||||||||
Less: Accumulated Depreciation and Amortization | 1,283.90 | 1,125.60 | |||||||||||||||||||
$ | 1,708.70 | $ | 1,726.40 | ||||||||||||||||||
Acquisition-related Intangible Assets | |||||||||||||||||||||
Acquisition-related intangible assets are as follows: | |||||||||||||||||||||
28-Sep-13 | 31-Dec-12 | ||||||||||||||||||||
Accumulated | Accumulated | ||||||||||||||||||||
(In millions) | Gross | Amortization | Net | Gross | Amortization | Net | |||||||||||||||
Definite Lives | $ | 10,093.40 | $ | -4,185.80 | $ | 5,907.60 | $ | 10,403.10 | $ | -3,939.20 | $ | 6,463.90 | |||||||||
Indefinite Lives | 1,340.60 | — | 1,340.60 | 1,340.60 | — | 1,340.60 | |||||||||||||||
$ | 11,434.00 | $ | -4,185.80 | $ | 7,248.20 | $ | 11,743.70 | $ | -3,939.20 | $ | 7,804.50 | ||||||||||
Use of Estimates | |||||||||||||||||||||
The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. In addition, significant estimates were made in estimating future cash flows to assess potential impairment of assets, and in determining the ultimate loss from selling discontinued operations and abandoning leases at facilities being exited (Note 13). Actual results could differ from those estimates. | |||||||||||||||||||||
Recent Accounting Pronouncements | |||||||||||||||||||||
In February 2013, the FASB issued new guidance which requires disclosure of information about significant reclassification adjustments from accumulated other comprehensive income in a single note or on the face of the financial statements. This guidance became effective for the company in 2013. Adoption of this standard, which is related to disclosure only, did not have an impact on the company's consolidated financial position, results of operations or cash flows. | |||||||||||||||||||||
In July 2012, the FASB modified existing rules to allow entities to use a qualitative approach to test indefinite-lived intangible assets for impairment. The revised standard allows an entity the option to first assess qualitatively whether it is more likely than not (that is, a likelihood of more than 50 percent) that an indefinite-lived intangible asset is impaired. An entity is not required to calculate the fair value of an indefinite-lived intangible asset and perform the quantitative impairment test unless the entity determines that it is more likely than not that the asset is impaired. This guidance became effective for the company in 2013. Adoption of this standard did not have an impact on the company's consolidated financial position, results of operations or cash flows. | |||||||||||||||||||||
In December 2011, the FASB issued new guidance which requires enhanced disclosures on offsetting amounts within the balance sheet, including disclosing gross and net information about instruments and transactions eligible for offset or subject to a master netting or similar agreement. This guidance became effective for the company in 2013. Adoption of this standard, which is related to disclosure only, did not have an impact on the company's consolidated financial position, results of operations or cash flows. |
Acquisitions_and_Dispositions
Acquisitions and Dispositions | 9 Months Ended | ||||||||
Sep. 28, 2013 | |||||||||
Acquisitions and Dispositions Disclosure | ' | ||||||||
Acquisitions and Dispositions [Text Block] | ' | ||||||||
Note 2. Acquisitions and Dispositions | |||||||||
On April 14, 2013, the company entered into an agreement to acquire Life Technologies Corporation for $76.00 in cash per fully diluted common share, or approximately $13.6 billion, plus the assumption of net debt at close ($1.8 billion as of June 30, 2013) (the “Life Technologies Acquisition”). The transaction, which is expected to close in early 2014, is subject to satisfaction of certain customary closing conditions, including the receipt of certain regulatory approvals. In connection with the planned acquisition of Life Technologies, the company entered into a bridge credit agreement and a term loan agreement (Note 8). The bridge credit agreement is a 364-day unsecured committed bridge facility in the principal amount of $3.56 billion as of November 1, 2013. The term loan agreement is a 3-year unsecured $5 billion term loan facility. The company currently expects to fund the $13.6 billion cash purchase price with up to $3.25 billion of equity financing, including $2.5 billion of its common stock sold in June 2013 under equity forward agreements (Note 10) and up to a maximum of $750 million of equity or equity-linked securities, with the remaining purchase price to be financed with the term loan facility, new debt and cash on hand. Life Technologies provides innovative products and services to customers conducting scientific research and genetic analysis, as well as those in applied markets, such as forensics and food safety testing. Life Technologies' revenues totaled $3.8 billion in 2012. | |||||||||
During the first nine months of 2013, the company made contingent purchase price and post closing adjustment payments totaling $6 million for acquisitions completed prior to 2013. The contingent purchase price payments were contractually due to the sellers upon achievement of certain performance criteria at the acquired businesses. | |||||||||
The company's acquisitions have historically been made at prices above the fair value of the acquired identifiable assets, resulting in goodwill, due to expectations of the synergies that will be realized by combining the businesses. These synergies include the elimination of redundant facilities, functions and staffing; use of the company's existing commercial infrastructure to expand sales of the acquired businesses' products; and use of the commercial infrastructure of the acquired businesses to cost-effectively expand sales of company products. | |||||||||
Acquisitions have been accounted for using the purchase method of accounting, and the acquired companies' results have been included in the accompanying financial statements from their respective dates of acquisition. Acquisition transaction costs are recorded in selling, general and administrative expenses. The net assets acquired have been recorded based on estimates of fair value. | |||||||||
Unaudited Pro Forma Information | |||||||||
The company acquired One Lambda in September 2012. Had the acquisition of One Lambda been completed as of the beginning of 2011, the company's pro forma results for 2012 would have been as follows: | |||||||||
Three Months Ended | Nine Months Ended | ||||||||
September 29, | September 29, | ||||||||
(In millions except per share amounts) | 2012 | 2012 | |||||||
Revenues | $ | 3,122.60 | $ | 9,383.80 | |||||
Income from Continuing Operations | $ | 310.6 | $ | 894.8 | |||||
Net Income | $ | 301.6 | $ | 823.6 | |||||
Earnings per Share from Continuing Operations: | |||||||||
Basic | $ | 0.86 | $ | 2.45 | |||||
Diluted | $ | 0.85 | $ | 2.43 | |||||
Earnings per Share: | |||||||||
Basic | $ | 0.83 | $ | 2.25 | |||||
Diluted | $ | 0.83 | $ | 2.24 | |||||
The company's results would not have been materially different from its pro forma results had the company's other 2012 acquisitions occurred at the beginning of 2011. | |||||||||
Dispositions | |||||||||
On October 22, 2012, the company sold its laboratory workstations business (See Note 14). |
Business_Segment_Information
Business Segment Information | 9 Months Ended | ||||||||||||||||||||||||||||||
Sep. 28, 2013 | |||||||||||||||||||||||||||||||
Business Segments | ' | ||||||||||||||||||||||||||||||
Business Segment Information [Text Block] | ' | ||||||||||||||||||||||||||||||
Note 3. Business Segment and Geographical Information | |||||||||||||||||||||||||||||||
The company's continuing operations fall into three business segments as follows: | |||||||||||||||||||||||||||||||
Analytical Technologies: provides a broad offering of instruments, reagents, consumables, software and services that are used for a range of applications in the laboratory, on the production line and in the field. These products and services are used by customers in pharmaceutical, biotechnology, academic, government, environmental and other research and industrial markets, as well as the clinical laboratory. | |||||||||||||||||||||||||||||||
Specialty Diagnostics: provides a wide range of diagnostic test kits, reagents, culture media, instruments and associated products used to increase the speed and accuracy of diagnoses. These products are used primarily by customers in healthcare, clinical, pharmaceutical, industrial and food safety laboratories. | |||||||||||||||||||||||||||||||
Laboratory Products and Services: provides virtually everything needed for the laboratory, including a combination of self-manufactured and sourced products and an extensive service offering. These products and services are used by customers in pharmaceutical, biotechnology, academic, government and other research and industrial markets, as well as the clinical laboratory. | |||||||||||||||||||||||||||||||
In February 2013, in connection with a change in management responsibility for two product lines, the company transferred its water analysis and research serum and media product lines to the Laboratory Products and Services segment from the Analytical Technologies segment. The company has historically moved a product line between segments when a shift in strategic focus of either the product line or a segment more closely aligns the product line with a segment different than that in which it had previously been reported. Prior period segment information has been reclassified to reflect these transfers. | |||||||||||||||||||||||||||||||
The company's management evaluates segment operating performance based on operating income before certain charges/credits to cost of revenues and selling, general and administrative expenses, principally associated with acquisition accounting; restructuring and other costs/income including costs arising from facility consolidations such as severance and abandoned lease expense and gains and losses from the sale of real estate and product lines; and amortization of acquisition-related intangible assets. The company uses this measure because it helps management understand and evaluate the segments' core operating results and facilitates comparison of performance for determining compensation. | |||||||||||||||||||||||||||||||
Business Segment Information | |||||||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||||
September 28, | September 29, | September 28, | September 29, | ||||||||||||||||||||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||
Revenues | |||||||||||||||||||||||||||||||
Analytical Technologies | $ | 996.6 | $ | 986.5 | $ | 2,980.90 | $ | 2,938.90 | |||||||||||||||||||||||
Specialty Diagnostics | 759.2 | 706.7 | 2,358.40 | 2,170.50 | |||||||||||||||||||||||||||
Laboratory Products and Services | 1,582.10 | 1,526.30 | 4,709.60 | 4,537.10 | |||||||||||||||||||||||||||
Eliminations | -146.1 | -133.8 | -425.5 | -395.9 | |||||||||||||||||||||||||||
Consolidated revenues | 3,191.80 | 3,085.70 | 9,623.40 | 9,250.60 | |||||||||||||||||||||||||||
Segment Income | |||||||||||||||||||||||||||||||
Analytical Technologies (a) | 180.4 | 186.1 | 534.4 | 533.9 | |||||||||||||||||||||||||||
Specialty Diagnostics (a) | 203.7 | 170 | 642.3 | 556.2 | |||||||||||||||||||||||||||
Laboratory Products and Services (a) | 235.3 | 219.6 | 681.6 | 652.2 | |||||||||||||||||||||||||||
Subtotal reportable segments (a) | 619.4 | 575.7 | 1,858.30 | 1,742.30 | |||||||||||||||||||||||||||
Cost of revenues charges | -0.9 | -3.1 | -27.2 | -42.5 | |||||||||||||||||||||||||||
Selling, general and administrative charges, net | -24 | -19 | -47.9 | -13.1 | |||||||||||||||||||||||||||
Restructuring and other costs, net | -11.4 | -15.2 | -54.4 | -51.7 | |||||||||||||||||||||||||||
Amortization of acquisition-related intangible assets | -191 | -186.2 | -574.2 | -553.5 | |||||||||||||||||||||||||||
Consolidated operating income | 392.1 | 352.2 | 1,154.60 | 1,081.50 | |||||||||||||||||||||||||||
Other expense, net (b) | -73.1 | -55.8 | -212.7 | -155.6 | |||||||||||||||||||||||||||
Income from continuing operations before income taxes | $ | 319 | $ | 296.4 | $ | 941.9 | $ | 925.9 | |||||||||||||||||||||||
Depreciation | |||||||||||||||||||||||||||||||
Analytical Technologies | $ | 15.9 | $ | 15.1 | $ | 46.2 | $ | 47.3 | |||||||||||||||||||||||
Specialty Diagnostics | 18.2 | 18.2 | 54.7 | 53.8 | |||||||||||||||||||||||||||
Laboratory Products and Services | 25.3 | 25.7 | 75.5 | 74.7 | |||||||||||||||||||||||||||
Consolidated depreciation | $ | 59.4 | $ | 59 | $ | 176.4 | $ | 175.8 | |||||||||||||||||||||||
(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. |
Other_Expense_Net
Other Expense, Net | 9 Months Ended | |||||||||||||||||
Sep. 28, 2013 | ||||||||||||||||||
Other Expense, Net Disclosure | ' | |||||||||||||||||
Other Expense, Net [Text Block] | ' | |||||||||||||||||
Note 4. Other Expense, Net | ||||||||||||||||||
The components of other expense, net, in the accompanying statement of income are as follows: | ||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||
September 28, | September 29, | September 28, | September 29, | |||||||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||||
Interest Income | $ | 7.1 | $ | 5.9 | $ | 21.4 | $ | 19 | ||||||||||
Interest Expense | -64.3 | -60.3 | -193.1 | -175.4 | ||||||||||||||
Other Items, Net | -15.9 | -1.4 | -41 | 0.8 | ||||||||||||||
$ | -73.1 | $ | -55.8 | $ | -212.7 | $ | -155.6 | |||||||||||
Other Items, Net | ||||||||||||||||||
In the third quarter and first nine months of 2013, other items, net includes $20 million and $61 million, respectively, of charges related to amortization of fees paid to obtain bridge financing commitments related to the Life Technologies Acquisition. | ||||||||||||||||||
In the first nine months of 2013, the company recorded $5 million of gains from sales of equity investments. Additionally, the company irrevocably contributed appreciated available-for-sale investments that had a fair value of $27 million to two of its U.K. defined benefit plans, resulting in realization of a previously unrecognized gain of $11 million. |
Stockbased_Compensation_Expens
Stockbased Compensation Expense | 9 Months Ended | |||||||||||||||||
Sep. 28, 2013 | ||||||||||||||||||
Stock-based Compensation Expense Disclosure [Abstract] | ' | |||||||||||||||||
Stock-based Compensation Expense [Text Block] | ' | |||||||||||||||||
Note 5. Stock-based Compensation Expense | ||||||||||||||||||
The components of stock-based compensation expense are as follows: | ||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||
September 28, | September 29, | September 28, | September 29, | |||||||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||||
Stock Option Awards | $ | 10.4 | $ | 9.8 | $ | 30.6 | $ | 30 | ||||||||||
Restricted Share/Unit Awards | 12.5 | 10.5 | 36 | 27.8 | ||||||||||||||
Total Stock-based Compensation Expense | $ | 22.9 | $ | 20.3 | $ | 66.6 | $ | 57.8 | ||||||||||
Stock-based compensation expense is included in the accompanying statement of income as follows: | ||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||
September 28, | September 29, | September 28, | September 29, | |||||||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||||
Cost of Revenues | $ | 1.8 | $ | 1.2 | $ | 5.2 | $ | 3.8 | ||||||||||
Selling, General and Administrative Expenses | 20.3 | 18.6 | 59 | 52.6 | ||||||||||||||
Research and Development Expenses | 0.8 | 0.5 | 2.4 | 1.4 | ||||||||||||||
Total Stock-based Compensation Expense | $ | 22.9 | $ | 20.3 | $ | 66.6 | $ | 57.8 | ||||||||||
As of September 28, 2013, there was $75 million of total unrecognized compensation cost related to unvested stock options granted. The cost is expected to be recognized through 2017 with a weighted average amortization period of 2.4 years. | ||||||||||||||||||
As of September 28, 2013, there was $78 million of total unrecognized compensation cost related to unvested restricted stock unit awards. The cost is expected to be recognized through 2017 with a weighted average amortization period of 2.1 years. | ||||||||||||||||||
During the first nine months of 2013, the company made equity compensation grants to employees consisting of 0.9 million service- and performance-based restricted stock units and options to purchase 1.9 million shares. |
Pension_and_Other_Postretireme
Pension and Other Postretirement Benefit Plans | 9 Months Ended | ||||||||||||||
Sep. 28, 2013 | |||||||||||||||
General Discussion of Pension and Other Postretirement Benefits [Abstract] | ' | ||||||||||||||
Pension and Other Postretirement Benefits Disclosure [Text Block] | ' | ||||||||||||||
Note 6. Pension and Other Postretirement Benefit Plans | |||||||||||||||
Employees of a number of the company's non-U.S. and certain U.S. subsidiaries participate in defined benefit pension plans covering substantially all full-time employees at those subsidiaries. Some of the plans are unfunded, as permitted under the plans and applicable laws. The company also maintains postretirement healthcare programs at several acquired businesses where certain employees are eligible to participate. The costs of the postretirement healthcare programs are funded on a self-insured and insured-premium basis. | |||||||||||||||
Net periodic benefit costs for the company's defined benefit pension plans include the following components: | |||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||
September 28, | September 29, | September 28, | September 29, | ||||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | |||||||||||
Service Cost - Benefits Earned | $ | 5.8 | $ | 2.9 | $ | 15.2 | $ | 8.9 | |||||||
Interest Cost on Benefit Obligation | 11.9 | 12.7 | 35.8 | 38.2 | |||||||||||
Expected Return on Plan Assets | -13.3 | -13.8 | -39.7 | -41.4 | |||||||||||
Amortization of Net Loss | 2.8 | 1.7 | 8.5 | 5.1 | |||||||||||
Amortization of Prior Service Benefit | — | -0.1 | -0.2 | -0.1 | |||||||||||
Settlement/Curtailment Loss | — | 0.1 | — | — | |||||||||||
Special Termination Benefits | 0.7 | — | 1.2 | 0.5 | |||||||||||
Net Periodic Benefit Cost | $ | 7.9 | $ | 3.5 | $ | 20.8 | $ | 11.2 | |||||||
Net periodic benefit costs for the company's other postretirement benefit plans include the following | |||||||||||||||
components: | |||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||
September 28, | September 29, | September 28, | September 29, | ||||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | |||||||||||
Service Cost - Benefits Earned | $ | 0.1 | $ | 0.1 | $ | 0.4 | $ | 0.5 | |||||||
Interest Cost on Benefit Obligation | 0.4 | 0.4 | 1.3 | 1.4 | |||||||||||
Amortization of Net (Gain) Loss | — | -0.1 | 0.1 | -0.1 | |||||||||||
Net Periodic Benefit Cost | $ | 0.5 | $ | 0.4 | $ | 1.8 | $ | 1.8 |
Earnings_Per_Share
Earnings Per Share | 9 Months Ended | |||||||||||||||||
Sep. 28, 2013 | ||||||||||||||||||
Earnings per Share | ' | |||||||||||||||||
Earnings per Share [Text Block] | ' | |||||||||||||||||
Note 7. Earnings per Share | ||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||
September 28, | September 29, | September 28, | September 29, | |||||||||||||||
(In millions except per share amounts) | 2013 | 2012 | 2013 | 2012 | ||||||||||||||
Income from Continuing Operations | $ | 317.7 | $ | 299.4 | $ | 936.1 | $ | 872.6 | ||||||||||
Loss from Discontinued Operations | -0.1 | -4.1 | -0.7 | -15.4 | ||||||||||||||
Loss on Disposal of Discontinued Operations, Net | — | -4.9 | -4.2 | -55.7 | ||||||||||||||
Net Income | $ | 317.6 | $ | 290.4 | $ | 931.2 | $ | 801.5 | ||||||||||
Basic Weighted Average Shares | 361.2 | 362.6 | 359.8 | 365.6 | ||||||||||||||
Plus Effect of: | ||||||||||||||||||
Equity forward arrangement | 2.5 | — | 0.8 | — | ||||||||||||||
Stock options and restricted units | 3.6 | 2.8 | 3.5 | 2.6 | ||||||||||||||
Diluted Weighted Average Shares | 367.3 | 365.4 | 364.1 | 368.2 | ||||||||||||||
Basic Earnings per Share: | ||||||||||||||||||
Continuing operations | $ | 0.88 | $ | 0.83 | $ | 2.6 | $ | 2.39 | ||||||||||
Discontinued operations | — | -0.02 | -0.01 | -0.19 | ||||||||||||||
$ | 0.88 | $ | 0.8 | $ | 2.59 | $ | 2.19 | |||||||||||
Diluted Earnings per Share: | ||||||||||||||||||
Continuing operations | $ | 0.86 | $ | 0.82 | $ | 2.57 | $ | 2.37 | ||||||||||
Discontinued operations | — | -0.02 | -0.01 | -0.19 | ||||||||||||||
$ | 0.86 | $ | 0.79 | $ | 2.56 | $ | 2.18 | |||||||||||
Options to purchase 0.1 million, 6.4 million, 1.3 million and 8.6 million shares of common stock were not included in the computation of diluted earnings per share for the third quarter of 2013 and 2012 and the first nine months of 2013 and 2012, respectively, because their effect would have been antidilutive. |
Debt_and_Other_Financing_Arran
Debt and Other Financing Arrangements | 9 Months Ended |
Sep. 28, 2013 | |
Debt And Other Financing Arrangements Disclosure [Abstract] | ' |
Debt and Other Financing Arrangements [Text Block] | ' |
Note 8. Debt and Other Financing Arrangements | |
Credit Facilities | |
On July 25, 2013, the company terminated its prior revolving credit agreement and entered into a new revolving credit facility with a bank group that provides for up to $1.5 billion of unsecured multi-currency revolving credit. The facility expires in July 2018. The agreement calls for interest at either a LIBOR-based rate or a rate based on the prime lending rate of the agent bank, at the company's option. The agreement contains affirmative, negative and financial covenants, and events of default customary for financings of this type. The financial covenant requires the company to maintain a Consolidated Leverage Ratio of debt to EBITDA (as defined in the agreement) below 3.5 to 1.0 prior to the closing date of the Life Technologies Acquisition, below 5.5 to 1.0 during the first six months after the closing date of the Life Technologies Acquisition and decreasing, based on the passage of time, to 3.5 to 1.0, after 18 months and an Interest Coverage Ratio of EBITDA (as defined in the agreement) to interest expense below 3.0 to 1.0. The credit agreement permits the company to use the facility for working capital; acquisitions; repurchases of common stock, debentures and other securities; the refinancing of debt; and general corporate purposes. The credit agreement allows for the issuance of letters of credit, which reduces the amount available for borrowing. If the company borrows under this facility, it intends to leave undrawn an amount equivalent to outstanding commercial paper ($50 million at September 28, 2013) to provide a source of funds in the event that commercial paper markets are not available. As of September 28, 2013, no borrowings were outstanding under the facility, although available capacity was reduced by approximately $46 million as a result of outstanding letters of credit. | |
In connection with the planned acquisition of Life Technologies, the company entered into a bridge credit agreement and a term loan agreement. The bridge credit agreement is a 364-day unsecured committed bridge facility in the principal amount of $3.56 billion as of November 1, 2013. The term loan agreement is a 3-year unsecured $5 billion term loan facility. Borrowing under both agreements is conditioned on, among other things, the consummation of the Life Technologies Acquisition. The agreements call for interest at either a LIBOR-based rate or a rate based on the prime lending rate of the agent bank, at the company's option. The agreements contain affirmative, negative and financial covenants, and events of default customary for financings of this type. The financial covenants require the company to maintain a Consolidated Leverage Ratio of debt to EBITDA (as defined in the agreements) below 5.5 to 1.0 during the first six months after the borrowing date and decreasing, based on the passage of time, to 3.5 to 1.0, beginning 18 months after the borrowing date. The company must also maintain a minimum interest coverage ratio of 3.0 to 1.0. The company expects to issue long-term debt to replace the bridge facility. | |
Cash Flow Hedge Arrangements | |
During 2013, the company entered into interest rate swap agreements to mitigate the risk of interest rates rising prior to completion of a debt offering. Based on the company's conclusion that a debt offering is probable as a result of debt maturing in 2014 and that such debt would carry semi-annual interest payments over a 10-year term, the swaps hedge the cash flow risk for each of the semi-annual fixed-rate interest payments on $575 million of principal amount of the planned 10-year fixed-rate debt issue. The increase in the fair value of the hedges, $5 million, net of tax, as of September 28, 2013, was classified as an increase to accumulated other comprehensive items within shareholder's equity. |
Commitments_and_Contingencies
Commitments and Contingencies | 9 Months Ended |
Sep. 28, 2013 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Commitments and Contingencies Disclosure [Text Block] | ' |
Note 9. Commitments and Contingencies | |
There are various lawsuits and claims pending against the company involving product liability, contract, commercial and other issues. In view of the company's financial condition and the accruals established for these matters, management does not believe that the ultimate liability, if any, related to these matters will have a material adverse effect on the company's financial condition, results of operations or cash flows. | |
The company establishes a liability that is an estimate of amounts needed to pay damages in the future for events that have already occurred. The accrued liabilities are based on management's judgment as to the probability of losses for asserted and unasserted claims and, where applicable, actuarially determined estimates. The reserve estimates are adjusted as additional information becomes known or payments are made. | |
For product liability, workers compensation and other personal injury matters, the company accrues the most likely amount or at least the minimum of the range of probable loss when a range of probable loss can be estimated. The company records estimated amounts due from insurers as an asset. Although the company believes that the amounts reserved and estimated recoveries are probable and appropriate based on available information, including actuarial studies of loss estimates, the process of estimating losses and insurance recoveries involves a considerable degree of judgment by management and the ultimate amounts could vary materially. Insurance contracts do not relieve the company of its primary obligation with respect to any losses incurred. The collectability of amounts due from its insurers is subject to the solvency and willingness of the insurer to pay, as well as the legal sufficiency of the insurance claims. Management monitors the financial condition and ratings of its insurers on an ongoing basis. | |
The company is currently involved in various stages of investigation and remediation related to environmental matters. The company cannot predict all potential costs related to environmental remediation matters and the possible impact on future operations given the uncertainties regarding the extent of the required cleanup, the complexity and interpretation of applicable laws and regulations, the varying costs of alternative cleanup methods and the extent of the company's responsibility. Expenses for environmental remediation matters related to the costs of permit requirements and installing, operating and maintaining groundwater-treatment systems and other remedial activities related to historical environmental contamination at the company's domestic and international facilities were not material in any period presented. The company records accruals for environmental remediation liabilities, based on current interpretations of environmental laws and regulations, when it is probable that a liability has been incurred and the amount of such liability can be reasonably estimated. The company calculates estimates based upon several factors, including reports prepared by environmental specialists and management's knowledge of and experience with these environmental matters. The company includes in these estimates potential costs for investigation, remediation and operation and maintenance of cleanup sites. | |
Management believes that its reserves for environmental matters are adequate for the remediation costs the company expects to incur. As a result, the company believes that the ultimate liability with respect to environmental remediation matters will not have a material adverse effect on the company's financial position, results of operations or cash flows. However, the company may be subject to additional remedial or compliance costs due to future events, such as changes in existing laws and regulations, changes in agency direction or enforcement policies, developments in remediation technologies or changes in the conduct of the company's operations, which could have a material adverse effect on the company's financial position, results of operations or cash flows. Although these environmental remediation liabilities do not include third-party recoveries, the company may be able to bring indemnification claims against third parties for liabilities relating to certain sites. |
Comprehensive_Income_and_Share
Comprehensive Income and Shareholders Equity | 9 Months Ended | |||||||||||||||||
Sep. 28, 2013 | ||||||||||||||||||
Comprehensive Income and Shareholders Equity Disclosure [Abstract] | ' | |||||||||||||||||
Comprehensive Income and Shareholders Equity [Text Block] | ' | |||||||||||||||||
Note 10. Comprehensive Income and Shareholders' Equity | ||||||||||||||||||
Comprehensive Income | ||||||||||||||||||
Comprehensive income combines net income and other comprehensive items. Other comprehensive items represent certain amounts that are reported as components of shareholders' equity in the accompanying balance sheet. | ||||||||||||||||||
Changes in each component of accumulated other comprehensive items, net of tax are as follows: | ||||||||||||||||||
(In millions) | Currency Translation Adjustment | Unrealized Gains (Losses) on Available-for-Sale Investments | Unrealized Gains (Losses) on Hedging Instruments | Pension and Other Postretirement Benefit Liability Adjustment | Total | |||||||||||||
Balance at December 31, 2012 | $ | 87.4 | $ | 7.7 | $ | -32.9 | $ | -212.6 | $ | -150.4 | ||||||||
Other comprehensive income (loss) before reclassifications | -6.2 | 1.2 | 5 | -0.2 | -0.2 | |||||||||||||
Amounts reclassified from accumulated other comprehensive items | — | -8 | 2.4 | 5.8 | 0.2 | |||||||||||||
Net other comprehensive items | -6.2 | -6.8 | 7.4 | 5.6 | — | |||||||||||||
Balance at September 28, 2013 | $ | 81.2 | $ | 0.9 | $ | -25.5 | $ | -207 | $ | -150.4 | ||||||||
The amounts reclassified out of accumulated other comprehensive items are as follows: | ||||||||||||||||||
Nine Months Ended | ||||||||||||||||||
Affected Line Item in the | September 28, | September 29, | ||||||||||||||||
(In millions) | Statement of Income | 2013 | 2012 | |||||||||||||||
Amounts Reclassified From Accumulated Other Comprehensive Items | ||||||||||||||||||
Unrealized gains and losses on available-for-sale investments | ||||||||||||||||||
Realized gain on sale or transfer of available-for-sale investments | Other Expense, Net | $ | -10.5 | $ | — | |||||||||||||
Tax provision | Provision for Income Taxes | 2.5 | — | |||||||||||||||
$ | -8 | $ | — | |||||||||||||||
Unrealized gains and losses on hedging instruments | ||||||||||||||||||
Realized loss on interest rate swaps and locks | Other Expense, Net | $ | 4 | $ | 3.9 | |||||||||||||
Tax benefit | Provision for Income Taxes | -1.6 | -1.5 | |||||||||||||||
$ | 2.4 | $ | 2.4 | |||||||||||||||
Pension and other postretirement benefit liability adjustment | ||||||||||||||||||
Amortization of actuarial losses | Net Periodic Benefit Cost - | $ | 8.6 | $ | 5 | |||||||||||||
Amortization of prior service benefit | see Note 6 for details | -0.2 | -0.1 | |||||||||||||||
Total before tax | 8.4 | 4.9 | ||||||||||||||||
Tax benefit | Provision for Income Taxes | -2.6 | -1.6 | |||||||||||||||
$ | 5.8 | $ | 3.3 | |||||||||||||||
Total reclassifications | $ | 0.2 | $ | 5.7 | ||||||||||||||
Shareholders' Equity | ||||||||||||||||||
In June 2013, in anticipation of the planned acquisition of Life Technologies, the company entered into equity forward agreements in connection with a public offering of 29.6 million shares of its common stock. The use of the equity forward agreements substantially eliminates future equity market price risk by fixing a common equity offering sales price under the then existing market conditions, while mitigating share dilution from the offering by postponing the actual issuance of common stock until the funds are needed for the Life Technologies Acquisition. | ||||||||||||||||||
Under the terms of the agreements, the counterparties borrowed shares of the company's common stock and sold them for $85.50 per share. Upon settlement of the agreements, to the extent that the agreements are physically settled, the company would be required to issue and deliver shares of its common stock at the then applicable forward sale price. The forward price was initially $83.2770 per share, net of underwriting fees, and is subject to adjustment in accordance with the terms of the agreements including fixed reductions related to cash dividends. The forward price was $82.8277 per share on September 28, 2013. The equity forward agreements must be settled fully within 14 months of the date of the agreements. Although the company expects to physically settle the forward sale agreements by delivering shares of its common stock in exchange for cash proceeds, it may elect cash or net share settlement for all or a portion of its obligations under the forward agreements. | ||||||||||||||||||
The equity forward agreements had no initial fair value as they were entered into at the then market price of the common stock. The company will not receive any proceeds from the sale of common stock until the equity forward agreements are settled, and at that time it will record the proceeds, if any, in equity. | ||||||||||||||||||
At September 28, 2013, the equity forward agreements could have been settled with physical delivery of the shares to the forward counterparties in exchange for cash of $2.45 billion. At September 28, 2013, the equity forward agreements could also have been cash settled, with delivery of cash of approximately $301.3 million to the forward counterparties, or net share settled with delivery of approximately 3.2 million shares of common stock to the forward counterparties. | ||||||||||||||||||
Prior to their settlement, to the extent that the equity forward agreements are dilutive, they are reflected in the company's diluted earnings per share calculations using the treasury stock method. |
Fair_Value_Measurements_and_Fa
Fair Value Measurements and Fair Value Of Financial Instruments | 9 Months Ended | ||||||||||||||||
Sep. 28, 2013 | |||||||||||||||||
Fair Value Measurements and Fair Value of Financial Instruments Disclosure | ' | ||||||||||||||||
Fair Value Measurements and Fair Value of Financial Instruments [Text Block] | ' | ||||||||||||||||
Note 11. Fair Value Measurements and Fair Value of Financial Instruments | |||||||||||||||||
Fair Value Measurements | |||||||||||||||||
The company uses the market approach technique to value its financial instruments and there were no changes in valuation techniques during 2013. The company's financial assets and liabilities carried at fair value are primarily comprised of investments in money market funds; derivative contracts, insurance contracts, mutual funds holding publicly traded securities and other investments in unit trusts held as assets to satisfy outstanding deferred compensation and retirement liabilities; and acquisition-related contingent consideration. | |||||||||||||||||
The fair value accounting guidance requires that assets and liabilities carried at fair value be classified and disclosed in one of the following three categories: | |||||||||||||||||
Level 1: Quoted market prices in active markets for identical assets or liabilities that the company has the ability to access. | |||||||||||||||||
Level 2: Observable market based inputs or unobservable inputs that are corroborated by market data such as quoted prices, interest rates and yield curves. | |||||||||||||||||
Level 3: Inputs are unobservable data points that are not corroborated by market data. | |||||||||||||||||
The following table presents information about the company's financial assets and liabilities measured at fair value on a recurring basis as of September 28, 2013: | |||||||||||||||||
September 28, | Quoted Prices in Active Markets | Significant Other Observable Inputs | Significant Unobservable Inputs | ||||||||||||||
(In millions) | 2013 | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Assets | |||||||||||||||||
Cash equivalents | $ | 869.5 | $ | 869.5 | $ | — | $ | — | |||||||||
Investments in mutual funds, unit trusts and other similar instruments | 9.6 | 9.6 | — | — | |||||||||||||
Insurance contracts | 70.6 | — | 70.6 | — | |||||||||||||
Auction rate securities | 4.2 | — | — | 4.2 | |||||||||||||
Derivative contracts | 11.2 | — | 11.2 | — | |||||||||||||
Total Assets | $ | 965.1 | $ | 879.1 | $ | 81.8 | $ | 4.2 | |||||||||
Liabilities | |||||||||||||||||
Derivative contracts | $ | 3.3 | $ | — | $ | 3.3 | $ | — | |||||||||
Contingent consideration | 32.9 | — | — | 32.9 | |||||||||||||
Total Liabilities | $ | 36.2 | $ | — | $ | 3.3 | $ | 32.9 | |||||||||
The following table presents information about the company’s financial assets and liabilities measured at fair | |||||||||||||||||
value on a recurring basis as of December 31, 2012: | |||||||||||||||||
December 31, | Quoted Prices in Active Markets | Significant Other Observable Inputs | Significant Unobservable Inputs | ||||||||||||||
(In millions) | 2012 | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Assets | |||||||||||||||||
Cash equivalents | $ | 73.6 | $ | 73.6 | $ | — | $ | — | |||||||||
Investments in mutual funds, unit trusts and other similar instruments | 36.6 | 36.6 | — | — | |||||||||||||
Insurance contracts | 62.5 | — | 62.5 | — | |||||||||||||
Auction rate securities | 4.3 | — | — | 4.3 | |||||||||||||
Derivative contracts | 1.6 | — | 1.6 | — | |||||||||||||
Total Assets | $ | 178.6 | $ | 110.2 | $ | 64.1 | $ | 4.3 | |||||||||
Liabilities | |||||||||||||||||
Derivative contracts | $ | 0.8 | $ | — | $ | 0.8 | $ | — | |||||||||
Contingent consideration | 20.1 | — | — | 20.1 | |||||||||||||
Total Liabilities | $ | 20.9 | $ | — | $ | 0.8 | $ | 20.1 | |||||||||
The company determines the fair value of its insurance contracts by obtaining the cash surrender value of the contracts from the issuer. The fair value of derivative contracts is the estimated amount that the company would receive/pay upon liquidation of the contracts, taking into account the change in interest rates and currency exchange rates. The company determines the fair value of the auction rate securities by obtaining indications of value from brokers/dealers. The company determines the fair value of acquisition-related contingent consideration based on assessment of the probability that the company would be required to make such future payment. Changes to the fair value of contingent consideration are recorded in selling, general and administrative expense. The following tables provide a rollforward of the fair value, as determined by Level 3 inputs, of the auction rate securities and contingent consideration. | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 28, | September 29, | September 28, | September 29, | ||||||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Auction Rate Securities | |||||||||||||||||
Beginning Balance | $ | 4.2 | $ | 4.3 | $ | 4.3 | $ | 4.3 | |||||||||
Sale of securities | — | — | -0.1 | — | |||||||||||||
Ending Balance | $ | 4.2 | $ | 4.3 | $ | 4.2 | $ | 4.3 | |||||||||
The company has the ability and intent to hold the auction rate securities to maturity unless they are redeemed earlier by the issuer. | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 28, | September 29, | September 28, | September 29, | ||||||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Contingent Consideration | |||||||||||||||||
Beginning Balance | $ | 33.7 | $ | 4.6 | $ | 20.1 | $ | 1.7 | |||||||||
Additions | — | 12.9 | — | 15.8 | |||||||||||||
Payments | -0.7 | -0.7 | -0.7 | -1 | |||||||||||||
Change in fair value included in earnings | -0.1 | — | 13.5 | 0.3 | |||||||||||||
Ending Balance | $ | 32.9 | $ | 16.8 | $ | 32.9 | $ | 16.8 | |||||||||
The notional amounts of derivative contracts outstanding, consisting of currency exchange contracts and interest rate locks, totaled $1.62 billion and $719 million at September 28, 2013 and December 31, 2012, respectively. | |||||||||||||||||
While certain derivatives are subject to netting arrangements with counterparties, the company does not offset derivative assets and liabilities within the consolidated balance sheet. The following tables present the fair value of derivative instruments in the consolidated balance sheet and statement of income. | |||||||||||||||||
Fair Value – Assets | Fair Value – Liabilities | ||||||||||||||||
September 28, | December 31, | September 28, | December 31, | ||||||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Derivatives Designated as Hedging Instruments | |||||||||||||||||
Interest rate forward swaps (a) | $ | 10.5 | $ | — | $ | 2.5 | $ | — | |||||||||
Derivatives Not Designated as Hedging Instruments | |||||||||||||||||
Currency exchange contracts (b) | 0.7 | 1.6 | 0.8 | 0.8 | |||||||||||||
(a) | The fair value of the interest rate forward swaps is included in the consolidated balance sheet under the captions other current assets and other accrued expenses. | ||||||||||||||||
(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 | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 28, | September 29, | September 28, | September 29, | ||||||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Derivatives Not Designated as Fair Value Hedges | |||||||||||||||||
Currency exchange contracts | |||||||||||||||||
Included in cost of revenues | $ | 1.5 | $ | 1.2 | $ | 2 | $ | 2.6 | |||||||||
Included in other expense, net | -26.8 | -8.8 | -12 | -2.2 | |||||||||||||
Gains and losses recognized on currency exchange contracts are included in the consolidated statement of income together with the corresponding, offsetting losses and gains on the underlying hedged transactions. | |||||||||||||||||
Fair Value of Other Financial Instruments | |||||||||||||||||
The carrying value and fair value of the company's notes receivable and debt obligations are as follows: | |||||||||||||||||
28-Sep-13 | 31-Dec-12 | ||||||||||||||||
Carrying | Fair | Carrying | Fair | ||||||||||||||
(In millions) | Value | Value | Value | Value | |||||||||||||
Notes Receivable | $ | 3.8 | $ | 3.8 | $ | 4.7 | $ | 4.7 | |||||||||
Debt Obligations: | |||||||||||||||||
Senior notes | $ | 7,008.20 | $ | 7,085.10 | $ | 7,019.50 | $ | 7,455.20 | |||||||||
Commercial paper | 50 | 50 | 50 | 50 | |||||||||||||
Other | 53.3 | 53.3 | 54.8 | 54.8 | |||||||||||||
$ | 7,111.50 | $ | 7,188.40 | $ | 7,124.30 | $ | 7,560.00 | ||||||||||
The fair value of debt obligations was determined based on quoted market prices and on borrowing rates | |||||||||||||||||
available to the company at the respective period ends which represent level 2 measurements. |
Supplemental_Cash_Flow_Informa
Supplemental Cash Flow Information | 9 Months Ended | ||||||||
Sep. 28, 2013 | |||||||||
Supplemental Cash Flow Information [Abstract] | ' | ||||||||
Supplemental Cash Flow Information [Text Block] | ' | ||||||||
Note 12. Supplemental Cash Flow Information | |||||||||
Nine Months Ended | |||||||||
September 28, | September 29, | ||||||||
(In millions) | 2013 | 2012 | |||||||
Non-cash Activities | |||||||||
Fair value of assets of acquired businesses and product lines | $ | — | $ | 1,164.30 | |||||
Cash paid for acquired businesses and product lines | — | -1,069.00 | |||||||
Liabilities assumed of acquired businesses and product lines | $ | — | $ | 95.3 | |||||
Fair value of available-for-sale investments contributed to defined benefit plans | $ | 27.1 | $ | — | |||||
Declared but unpaid dividends | $ | 55.5 | $ | 47.7 | |||||
Issuance of stock upon vesting of restricted stock units | $ | 63.2 | $ | 28.8 |
Restructuring_and_Other_Costs_
Restructuring and Other Costs, Net | 9 Months Ended | |||||||||||||||||
Sep. 28, 2013 | ||||||||||||||||||
Restructuring And Other Costs, Net Disclosure | ' | |||||||||||||||||
Restructuring and Other Costs, Net [Text Block] | ' | |||||||||||||||||
Note 13. Restructuring and Other Costs, Net | ||||||||||||||||||
Restructuring and other costs in the first nine months of 2013 primarily included continuing charges for headcount reductions and facility consolidations in an effort to streamline operations, including the closure and consolidation of operations within several facilities in the U.S. and Europe. The company's year-to-date severance actions associated with facility consolidations and cost reduction measures affected approximately 2% of the company's workforce. | ||||||||||||||||||
As of November 1, 2013, the company has identified restructuring actions that will result in additional charges of approximately $60 million, primarily in the remainder of 2013. | ||||||||||||||||||
Third Quarter of 2013 | ||||||||||||||||||
During the third quarter of 2013, the company recorded net restructuring and other costs by segment as follows: | ||||||||||||||||||
(In millions) | Analytical Technologies | Specialty Diagnostics | Laboratory Products and Services | Corporate | Total | |||||||||||||
Cost of Revenues | $ | 0.4 | $ | 0.5 | $ | — | $ | — | $ | 0.9 | ||||||||
Selling, General and Administrative Expenses | 16.4 | -0.7 | — | 8.3 | 24 | |||||||||||||
Restructuring and Other Costs, Net | 1.4 | 5.2 | 4.7 | 0.1 | 11.4 | |||||||||||||
$ | 18.2 | $ | 5 | $ | 4.7 | $ | 8.4 | $ | 36.3 | |||||||||
The components of net restructuring and other costs by segment are as follows: | ||||||||||||||||||
Analytical Technologies | ||||||||||||||||||
The Analytical Technologies segment recorded $18.2 million of net restructuring and other charges in the third quarter of 2013. The segment recorded charges to cost of revenues of $0.4 million for accelerated depreciation at facilities closing due to real estate consolidation; charges to selling, general and administrative expenses of $16.4 million primarily for transaction costs related to the pending acquisition of Life Technologies (Note 2); and $1.4 million of other restructuring costs, net, $3.4 million of which were cash costs. These costs, which were associated with headcount reductions and facility consolidations including the consolidation and closure of several facilities in the U.S. and Europe, consisted of $3.0 million of severance; $0.2 million of abandoned facility costs; and $0.2 million of other cash costs, primarily outplacement costs for severed employees. The segment also realized gains of $2.0 million on the sale of real estate in the U.S. and Europe. | ||||||||||||||||||
Specialty Diagnostics | ||||||||||||||||||
The Specialty Diagnostics segment recorded $5.0 million of net restructuring and other charges in the third quarter of 2013. The segment recorded charges to cost of revenues of $0.5 million for accelerated depreciation at facilities closing due to real estate consolidation; a reduction to selling, general and administrative expenses of $0.7 million for revisions of estimated contingent consideration for a recent acquisition; and $5.2 million of other restructuring costs, which were primarily cash costs principally associated with headcount reductions. The cash costs consisted of $4.2 million of severance and $1.1 million of other cash costs, primarily outplacement costs for severed employees and moving expenses associated with facility consolidations. | ||||||||||||||||||
Laboratory Products and Services | ||||||||||||||||||
The Laboratory Products and Services segment recorded $4.7 million of net restructuring and other charges in the third quarter of 2013. The segment recorded $3.6 million of cash costs, associated with headcount reductions and facility consolidations to streamline operations, which included $2.4 million of severance and $1.3 million of abandoned facility costs. The segment also recorded $1.1 million of non-cash expense primarily for pension charges related to the headcount reductions. | ||||||||||||||||||
Corporate | ||||||||||||||||||
During the third quarter of 2013, the company recorded a charge to selling, general and administrative expenses of $8.3 million associated with product liability litigation and $0.1 million of cash restructuring costs primarily for severance at its corporate operations. | ||||||||||||||||||
First Nine Months of 2013 | ||||||||||||||||||
During the first nine months of 2013, the company recorded net restructuring and other costs as follows: | ||||||||||||||||||
(In millions) | Analytical Technologies | Specialty Diagnostics | Laboratory Products and Services | Corporate | Total | |||||||||||||
Cost of Revenues | $ | 1.9 | $ | 24.7 | $ | 0.6 | $ | — | $ | 27.2 | ||||||||
Selling, General and Administrative Expenses | 26.7 | 12.9 | — | 8.3 | 47.9 | |||||||||||||
Restructuring and Other Costs, Net | 15 | 14.9 | 22.5 | 2 | 54.4 | |||||||||||||
$ | 43.6 | $ | 52.5 | $ | 23.1 | $ | 10.3 | $ | 129.5 | |||||||||
The components of net restructuring and other costs by segment are as follows: | ||||||||||||||||||
Analytical Technologies | ||||||||||||||||||
In the first nine months of 2013, the Analytical Technologies segment recorded $43.6 million of net restructuring and other charges. The segment recorded charges to cost of revenues of $1.9 million for accelerated depreciation at facilities closing due to real estate consolidation; charges to selling, general and administrative expenses of $26.7 million primarily for transaction costs related to the pending acquisition of Life Technologies (Note 2); and $15.0 million of other restructuring costs, net, $16.6 million of which were cash costs. The cash costs, which were associated with headcount reductions and facility consolidations including the consolidation and closure of several facilities in the U.S. and Europe, consisted of $12.4 million of severance; $2.4 million of abandoned facility costs; and $1.8 million of other cash costs, primarily for moving and other expenses associated with facility consolidations. In addition, the segment realized a gain of $2.0 million on the sale of real estate in the U.S and Europe. The segment also recorded $0.4 million of non-cash expense for writedowns of real estate held for sale. | ||||||||||||||||||
Specialty Diagnostics | ||||||||||||||||||
In the first nine months of 2013, the Specialty Diagnostics segment recorded $52.5 million of net restructuring and other charges. The segment recorded charges to cost of revenues of $24.7 million primarily for the sale of inventories revalued at the date of acquisition; charges to selling, general and administrative expenses of $12.9 million for revisions of estimated contingent consideration for a recent acquisition; and $14.9 million of other restructuring costs, net, which were primarily cash costs. The cash costs consisted of $13.0 million of severance and $2.0 million of other cash costs primarily for outplacement costs for severed employees and moving expenses associated with facility consolidations. | ||||||||||||||||||
Laboratory Products and Services | ||||||||||||||||||
In the first nine months of 2013, the Laboratory Products and Services segment recorded $23.1 million of net restructuring and other charges. The segment recorded charges to cost of revenues of $0.6 million for accelerated depreciation at facilities closing due to real estate consolidation and $22.5 million of other restructuring costs, $21.1 million of which were cash costs. The cash costs, which consisted of headcount reductions and facility consolidations to streamline operations, included $15.2 million of severance; $3.4 million of abandoned facility costs; and $2.5 million of other cash costs, primarily moving and relocation expenses associated with facility consolidations. The segment also recorded $1.4 million of non-cash expense, net, primarily for pension charges related to the headcount reductions. | ||||||||||||||||||
Corporate | ||||||||||||||||||
In the first nine months of 2013, the company recorded a charge to selling, general and administrative expenses of $8.3 million associated with product liability litigation and $2.0 million of cash restructuring costs primarily for severance at its corporate operations. | ||||||||||||||||||
The following table summarizes the cash components of the company's restructuring plans. The non-cash components and other amounts reported as restructuring and other costs, net, in the accompanying statement of income have been summarized in the notes to the tables. Accrued restructuring costs are included in other accrued expenses in the accompanying balance sheet. | ||||||||||||||||||
Abandonment | ||||||||||||||||||
(In millions) | Severance | of Excess Facilities | Other (a) | Total | ||||||||||||||
Pre-2012 Restructuring Plans | ||||||||||||||||||
Balance At December 31, 2012 | $ | 4.2 | $ | 5.9 | $ | 0.4 | $ | 10.5 | ||||||||||
Costs incurred in 2013 | 0.7 | 0.8 | — | 1.5 | ||||||||||||||
Reserves reversed | -0.1 | — | — | -0.1 | ||||||||||||||
Payments | -3.7 | -2.8 | — | -6.5 | ||||||||||||||
Balance At September 28, 2013 | $ | 1.1 | $ | 3.9 | $ | 0.4 | $ | 5.4 | ||||||||||
2012 Restructuring Plans | ||||||||||||||||||
Balance At December 31, 2012 | $ | 15.8 | $ | 2.4 | $ | 2.4 | $ | 20.6 | ||||||||||
Costs incurred in 2013 | 4.3 | 3 | 2.7 | 10 | ||||||||||||||
Reserves reversed | -1.8 | — | -0.2 | -2 | ||||||||||||||
Payments | -9.3 | -2.9 | -4.7 | -16.9 | ||||||||||||||
Currency translation | 0.1 | -0.2 | — | -0.1 | ||||||||||||||
Balance At September 28, 2013 | $ | 9.1 | $ | 2.3 | $ | 0.2 | $ | 11.6 | ||||||||||
2013 Restructuring Plans | ||||||||||||||||||
Costs incurred in 2013 | $ | 39.2 | $ | 2.3 | $ | 3.8 | $ | 45.3 | ||||||||||
Payments | -23.7 | -1.4 | -2.6 | -27.7 | ||||||||||||||
Currency translation | -1.9 | — | — | -1.9 | ||||||||||||||
Balance At September 28, 2013 | $ | 13.6 | $ | 0.9 | $ | 1.2 | $ | 15.7 | ||||||||||
(a) Other includes employee retention costs which are accrued ratably over the period through which employees must work to qualify for a payment. | ||||||||||||||||||
The company expects to pay accrued restructuring costs as follows: severance, employee-retention obligations and other costs, primarily through 2014; and abandoned-facility payments, over lease terms expiring through 2018. |
Discontinued_Operations
Discontinued Operations | 9 Months Ended | ||||||||
Sep. 28, 2013 | |||||||||
Discontinued Operations [Abstract] | ' | ||||||||
Discontinued Operations, Disclosure [Text Block] | ' | ||||||||
Note 14. Discontinued Operations | |||||||||
In June 2012, in an effort to exit a non-core business, the company's senior management made a decision to pursue a sale of its laboratory workstations business, part of the Laboratory Products and Services segment. The company completed the sale in October 2012 for nominal proceeds. The results of the laboratory workstations business have been classified and presented as discontinued operations in the accompanying financial statements. Prior period results have been adjusted to conform to this presentation. | |||||||||
Operating results of the laboratory workstations business were as follows: | |||||||||
Three Months Ended | Nine Months Ended | ||||||||
September 29, | September 29, | ||||||||
(In millions) | 2012 | 2012 | |||||||
Revenues | $ | 44.7 | $ | 139 | |||||
Pre-tax Income (Loss) | -6.8 | -25.2 | |||||||
In the first quarter of 2013, the company recorded an after-tax charge of $4.2 million for the estimated cost to raze certain abandoned facilities of the discontinued operations prior to the planned sale of the related land. |
Nature_of_Operations_and_Summa1
Nature of Operations and Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 28, 2013 | |
Nature of Operations and Summary of Significant Accounting Policies [Abstract] | ' |
Use of Estimates [Policy Text Block] | ' |
Use of Estimates | |
The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. In addition, significant estimates were made in estimating future cash flows to assess potential impairment of assets, and in determining the ultimate loss from selling discontinued operations and abandoning leases at facilities being exited (Note 13). Actual results could differ from those estimates. |
Acquisitions_and_Dispositions_
Acquisitions and Dispositions (Policies) | 9 Months Ended |
Sep. 28, 2013 | |
Acquisitions and Dispositions Disclosure | ' |
Business Combinations Policy [Policy Text Block] | ' |
The company's acquisitions have historically been made at prices above the fair value of the acquired identifiable assets, resulting in goodwill, due to expectations of the synergies that will be realized by combining the businesses. These synergies include the elimination of redundant facilities, functions and staffing; use of the company's existing commercial infrastructure to expand sales of the acquired businesses' products; and use of the commercial infrastructure of the acquired businesses to cost-effectively expand sales of company products. | |
Acquisitions have been accounted for using the purchase method of accounting, and the acquired companies' results have been included in the accompanying financial statements from their respective dates of acquisition. Acquisition transaction costs are recorded in selling, general and administrative expenses. The net assets acquired have been recorded based on estimates of fair value. |
Pension_and_Other_Postretireme1
Pension and Other Postretirement Benefit Plans (Policies) | 9 Months Ended |
Sep. 28, 2013 | |
General Discussion of Pension and Other Postretirement Benefits [Abstract] | ' |
Pension and Other Postretirement Plans, Policy [Policy Text Block] | ' |
Employees of a number of the company's non-U.S. and certain U.S. subsidiaries participate in defined benefit pension plans covering substantially all full-time employees at those subsidiaries. Some of the plans are unfunded, as permitted under the plans and applicable laws. The company also maintains postretirement healthcare programs at several acquired businesses where certain employees are eligible to participate. The costs of the postretirement healthcare programs are funded on a self-insured and insured-premium basis. |
Nature_of_Operations_and_Summa2
Nature of Operations and Summary of Significant Accounting Policies (Tables) | 9 Months Ended | ||||||||||||||||||||
Sep. 28, 2013 | |||||||||||||||||||||
Nature of Operations and Summary of Significant Accounting Policies [Abstract] | ' | ||||||||||||||||||||
Warranty Obligations [Table Text Block] | ' | ||||||||||||||||||||
The changes in the carrying amount of warranty obligations are as follows: | |||||||||||||||||||||
Nine Months Ended | |||||||||||||||||||||
September 28, | September 29, | ||||||||||||||||||||
(In millions) | 2013 | 2012 | |||||||||||||||||||
Beginning Balance | $ | 48.7 | $ | 42.2 | |||||||||||||||||
Provision charged to income | 51.8 | 48.7 | |||||||||||||||||||
Usage | -54.2 | -42.5 | |||||||||||||||||||
Adjustments to previously provided warranties, net | 0.7 | -0.4 | |||||||||||||||||||
Other, net | — | -0.2 | |||||||||||||||||||
Ending Balance | $ | 47 | $ | 47.8 | |||||||||||||||||
Inventories [Table Text Block] | ' | ||||||||||||||||||||
Inventories | |||||||||||||||||||||
The components of inventories are as follows: | |||||||||||||||||||||
September 28, | December 31, | ||||||||||||||||||||
(In millions) | 2013 | 2012 | |||||||||||||||||||
Raw Materials | $ | 373.2 | $ | 362 | |||||||||||||||||
Work in Process | 177.2 | 149.7 | |||||||||||||||||||
Finished Goods | 996.4 | 931.6 | |||||||||||||||||||
$ | 1,546.80 | $ | 1,443.30 | ||||||||||||||||||
Property, Plant and Equipment [Table Text Block] | ' | ||||||||||||||||||||
Property, Plant and Equipment | |||||||||||||||||||||
Property, plant and equipment consists of the following: | |||||||||||||||||||||
September 28, | December 31, | ||||||||||||||||||||
(In millions) | 2013 | 2012 | |||||||||||||||||||
Land | $ | 213.3 | $ | 216.6 | |||||||||||||||||
Buildings and Improvements | 806.6 | 805.5 | |||||||||||||||||||
Machinery, Equipment and Leasehold Improvements | 1,972.70 | 1,829.90 | |||||||||||||||||||
2,992.60 | 2,852.00 | ||||||||||||||||||||
Less: Accumulated Depreciation and Amortization | 1,283.90 | 1,125.60 | |||||||||||||||||||
$ | 1,708.70 | $ | 1,726.40 | ||||||||||||||||||
Finite-Lived Acquisition-related Intangible Assets [Table Text Block] | ' | ||||||||||||||||||||
Acquisition-related Intangible Assets | |||||||||||||||||||||
Acquisition-related intangible assets are as follows: | |||||||||||||||||||||
28-Sep-13 | 31-Dec-12 | ||||||||||||||||||||
Accumulated | Accumulated | ||||||||||||||||||||
(In millions) | Gross | Amortization | Net | Gross | Amortization | Net | |||||||||||||||
Definite Lives | $ | 10,093.40 | $ | -4,185.80 | $ | 5,907.60 | $ | 10,403.10 | $ | -3,939.20 | $ | 6,463.90 | |||||||||
Indefinite Lives | 1,340.60 | — | 1,340.60 | 1,340.60 | — | 1,340.60 | |||||||||||||||
$ | 11,434.00 | $ | -4,185.80 | $ | 7,248.20 | $ | 11,743.70 | $ | -3,939.20 | $ | 7,804.50 | ||||||||||
Indefinite-lived Acquisition-related Intangible Assets [Table Text Block] | ' | ||||||||||||||||||||
Acquisition-related Intangible Assets | |||||||||||||||||||||
Acquisition-related intangible assets are as follows: | |||||||||||||||||||||
28-Sep-13 | 31-Dec-12 | ||||||||||||||||||||
Accumulated | Accumulated | ||||||||||||||||||||
(In millions) | Gross | Amortization | Net | Gross | Amortization | Net | |||||||||||||||
Definite Lives | $ | 10,093.40 | $ | -4,185.80 | $ | 5,907.60 | $ | 10,403.10 | $ | -3,939.20 | $ | 6,463.90 | |||||||||
Indefinite Lives | 1,340.60 | — | 1,340.60 | 1,340.60 | — | 1,340.60 | |||||||||||||||
$ | 11,434.00 | $ | -4,185.80 | $ | 7,248.20 | $ | 11,743.70 | $ | -3,939.20 | $ | 7,804.50 | ||||||||||
Acquisitions_and_Dispositions_1
Acquisitions and Dispositions (Tables) | 9 Months Ended | ||||||||
Sep. 28, 2013 | |||||||||
Acquisitions and Dispositions Disclosure | ' | ||||||||
Business Acquisition, Pro Forma Information [Table Text Block] | ' | ||||||||
Unaudited Pro Forma Information | |||||||||
The company acquired One Lambda in September 2012. Had the acquisition of One Lambda been completed as of the beginning of 2011, the company's pro forma results for 2012 would have been as follows: | |||||||||
Three Months Ended | Nine Months Ended | ||||||||
September 29, | September 29, | ||||||||
(In millions except per share amounts) | 2012 | 2012 | |||||||
Revenues | $ | 3,122.60 | $ | 9,383.80 | |||||
Income from Continuing Operations | $ | 310.6 | $ | 894.8 | |||||
Net Income | $ | 301.6 | $ | 823.6 | |||||
Earnings per Share from Continuing Operations: | |||||||||
Basic | $ | 0.86 | $ | 2.45 | |||||
Diluted | $ | 0.85 | $ | 2.43 | |||||
Earnings per Share: | |||||||||
Basic | $ | 0.83 | $ | 2.25 | |||||
Diluted | $ | 0.83 | $ | 2.24 |
Business_Segment_Information_T
Business Segment Information (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||||
Sep. 28, 2013 | |||||||||||||||||||||||||||||||
Business Segments | ' | ||||||||||||||||||||||||||||||
Schedule of Segment Reporting Information, by Segment [Table Text Block] | ' | ||||||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||||
September 28, | September 29, | September 28, | September 29, | ||||||||||||||||||||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||
Revenues | |||||||||||||||||||||||||||||||
Analytical Technologies | $ | 996.6 | $ | 986.5 | $ | 2,980.90 | $ | 2,938.90 | |||||||||||||||||||||||
Specialty Diagnostics | 759.2 | 706.7 | 2,358.40 | 2,170.50 | |||||||||||||||||||||||||||
Laboratory Products and Services | 1,582.10 | 1,526.30 | 4,709.60 | 4,537.10 | |||||||||||||||||||||||||||
Eliminations | -146.1 | -133.8 | -425.5 | -395.9 | |||||||||||||||||||||||||||
Consolidated revenues | 3,191.80 | 3,085.70 | 9,623.40 | 9,250.60 | |||||||||||||||||||||||||||
Segment Income | |||||||||||||||||||||||||||||||
Analytical Technologies (a) | 180.4 | 186.1 | 534.4 | 533.9 | |||||||||||||||||||||||||||
Specialty Diagnostics (a) | 203.7 | 170 | 642.3 | 556.2 | |||||||||||||||||||||||||||
Laboratory Products and Services (a) | 235.3 | 219.6 | 681.6 | 652.2 | |||||||||||||||||||||||||||
Subtotal reportable segments (a) | 619.4 | 575.7 | 1,858.30 | 1,742.30 | |||||||||||||||||||||||||||
Cost of revenues charges | -0.9 | -3.1 | -27.2 | -42.5 | |||||||||||||||||||||||||||
Selling, general and administrative charges, net | -24 | -19 | -47.9 | -13.1 | |||||||||||||||||||||||||||
Restructuring and other costs, net | -11.4 | -15.2 | -54.4 | -51.7 | |||||||||||||||||||||||||||
Amortization of acquisition-related intangible assets | -191 | -186.2 | -574.2 | -553.5 | |||||||||||||||||||||||||||
Consolidated operating income | 392.1 | 352.2 | 1,154.60 | 1,081.50 | |||||||||||||||||||||||||||
Other expense, net (b) | -73.1 | -55.8 | -212.7 | -155.6 | |||||||||||||||||||||||||||
Income from continuing operations before income taxes | $ | 319 | $ | 296.4 | $ | 941.9 | $ | 925.9 | |||||||||||||||||||||||
Depreciation | |||||||||||||||||||||||||||||||
Analytical Technologies | $ | 15.9 | $ | 15.1 | $ | 46.2 | $ | 47.3 | |||||||||||||||||||||||
Specialty Diagnostics | 18.2 | 18.2 | 54.7 | 53.8 | |||||||||||||||||||||||||||
Laboratory Products and Services | 25.3 | 25.7 | 75.5 | 74.7 | |||||||||||||||||||||||||||
Consolidated depreciation | $ | 59.4 | $ | 59 | $ | 176.4 | $ | 175.8 | |||||||||||||||||||||||
(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. | ||||||||||||||||||||||||||||||
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block] | ' | ||||||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||||
September 28, | September 29, | September 28, | September 29, | ||||||||||||||||||||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||
Revenues | |||||||||||||||||||||||||||||||
Analytical Technologies | $ | 996.6 | $ | 986.5 | $ | 2,980.90 | $ | 2,938.90 | |||||||||||||||||||||||
Specialty Diagnostics | 759.2 | 706.7 | 2,358.40 | 2,170.50 | |||||||||||||||||||||||||||
Laboratory Products and Services | 1,582.10 | 1,526.30 | 4,709.60 | 4,537.10 | |||||||||||||||||||||||||||
Eliminations | -146.1 | -133.8 | -425.5 | -395.9 | |||||||||||||||||||||||||||
Consolidated revenues | 3,191.80 | 3,085.70 | 9,623.40 | 9,250.60 | |||||||||||||||||||||||||||
Segment Income | |||||||||||||||||||||||||||||||
Analytical Technologies (a) | 180.4 | 186.1 | 534.4 | 533.9 | |||||||||||||||||||||||||||
Specialty Diagnostics (a) | 203.7 | 170 | 642.3 | 556.2 | |||||||||||||||||||||||||||
Laboratory Products and Services (a) | 235.3 | 219.6 | 681.6 | 652.2 | |||||||||||||||||||||||||||
Subtotal reportable segments (a) | 619.4 | 575.7 | 1,858.30 | 1,742.30 | |||||||||||||||||||||||||||
Cost of revenues charges | -0.9 | -3.1 | -27.2 | -42.5 | |||||||||||||||||||||||||||
Selling, general and administrative charges, net | -24 | -19 | -47.9 | -13.1 | |||||||||||||||||||||||||||
Restructuring and other costs, net | -11.4 | -15.2 | -54.4 | -51.7 | |||||||||||||||||||||||||||
Amortization of acquisition-related intangible assets | -191 | -186.2 | -574.2 | -553.5 | |||||||||||||||||||||||||||
Consolidated operating income | 392.1 | 352.2 | 1,154.60 | 1,081.50 | |||||||||||||||||||||||||||
Other expense, net (b) | -73.1 | -55.8 | -212.7 | -155.6 | |||||||||||||||||||||||||||
Income from continuing operations before income taxes | $ | 319 | $ | 296.4 | $ | 941.9 | $ | 925.9 | |||||||||||||||||||||||
Depreciation | |||||||||||||||||||||||||||||||
Analytical Technologies | $ | 15.9 | $ | 15.1 | $ | 46.2 | $ | 47.3 | |||||||||||||||||||||||
Specialty Diagnostics | 18.2 | 18.2 | 54.7 | 53.8 | |||||||||||||||||||||||||||
Laboratory Products and Services | 25.3 | 25.7 | 75.5 | 74.7 | |||||||||||||||||||||||||||
Consolidated depreciation | $ | 59.4 | $ | 59 | $ | 176.4 | $ | 175.8 | |||||||||||||||||||||||
(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. |
Other_Expense_Net_Tables
Other Expense, Net (Tables) | 9 Months Ended | |||||||||||||||||
Sep. 28, 2013 | ||||||||||||||||||
Other Expense, Net Disclosure | ' | |||||||||||||||||
Schedule of Other Nonoperating Income (Expense) [Table Text Block] | ' | |||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||
September 28, | September 29, | September 28, | September 29, | |||||||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||||
Interest Income | $ | 7.1 | $ | 5.9 | $ | 21.4 | $ | 19 | ||||||||||
Interest Expense | -64.3 | -60.3 | -193.1 | -175.4 | ||||||||||||||
Other Items, Net | -15.9 | -1.4 | -41 | 0.8 | ||||||||||||||
$ | -73.1 | $ | -55.8 | $ | -212.7 | $ | -155.6 |
Stockbased_Compensation_Expens1
Stockbased Compensation Expense (Tables) | 9 Months Ended | |||||||||||||||||
Sep. 28, 2013 | ||||||||||||||||||
Stock-based Compensation Expense Disclosure [Abstract] | ' | |||||||||||||||||
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Table Text Block] | ' | |||||||||||||||||
The components of stock-based compensation expense are as follows: | ||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||
September 28, | September 29, | September 28, | September 29, | |||||||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||||
Stock Option Awards | $ | 10.4 | $ | 9.8 | $ | 30.6 | $ | 30 | ||||||||||
Restricted Share/Unit Awards | 12.5 | 10.5 | 36 | 27.8 | ||||||||||||||
Total Stock-based Compensation Expense | $ | 22.9 | $ | 20.3 | $ | 66.6 | $ | 57.8 | ||||||||||
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block] | ' | |||||||||||||||||
Stock-based compensation expense is included in the accompanying statement of income as follows: | ||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||
September 28, | September 29, | September 28, | September 29, | |||||||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||||
Cost of Revenues | $ | 1.8 | $ | 1.2 | $ | 5.2 | $ | 3.8 | ||||||||||
Selling, General and Administrative Expenses | 20.3 | 18.6 | 59 | 52.6 | ||||||||||||||
Research and Development Expenses | 0.8 | 0.5 | 2.4 | 1.4 | ||||||||||||||
Total Stock-based Compensation Expense | $ | 22.9 | $ | 20.3 | $ | 66.6 | $ | 57.8 | ||||||||||
Pensions_and_Other_Postretirem
Pensions and Other Postretirement Benefit Plans (Tables) | 9 Months Ended | ||||||||||||||
Sep. 28, 2013 | |||||||||||||||
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract] | ' | ||||||||||||||
Schedule of Net Benefit Costs [Table Text Block] | ' | ||||||||||||||
Net periodic benefit costs for the company's defined benefit pension plans include the following components: | |||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||
September 28, | September 29, | September 28, | September 29, | ||||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | |||||||||||
Service Cost - Benefits Earned | $ | 5.8 | $ | 2.9 | $ | 15.2 | $ | 8.9 | |||||||
Interest Cost on Benefit Obligation | 11.9 | 12.7 | 35.8 | 38.2 | |||||||||||
Expected Return on Plan Assets | -13.3 | -13.8 | -39.7 | -41.4 | |||||||||||
Amortization of Net Loss | 2.8 | 1.7 | 8.5 | 5.1 | |||||||||||
Amortization of Prior Service Benefit | — | -0.1 | -0.2 | -0.1 | |||||||||||
Settlement/Curtailment Loss | — | 0.1 | — | — | |||||||||||
Special Termination Benefits | 0.7 | — | 1.2 | 0.5 | |||||||||||
Net Periodic Benefit Cost | $ | 7.9 | $ | 3.5 | $ | 20.8 | $ | 11.2 | |||||||
Net periodic benefit costs for the company's other postretirement benefit plans include the following | |||||||||||||||
components: | |||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||
September 28, | September 29, | September 28, | September 29, | ||||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | |||||||||||
Service Cost - Benefits Earned | $ | 0.1 | $ | 0.1 | $ | 0.4 | $ | 0.5 | |||||||
Interest Cost on Benefit Obligation | 0.4 | 0.4 | 1.3 | 1.4 | |||||||||||
Amortization of Net (Gain) Loss | — | -0.1 | 0.1 | -0.1 | |||||||||||
Net Periodic Benefit Cost | $ | 0.5 | $ | 0.4 | $ | 1.8 | $ | 1.8 |
Earnings_per_Share_Tables
Earnings per Share (Tables) | 9 Months Ended | |||||||||||||||||
Sep. 28, 2013 | ||||||||||||||||||
Earnings per Share | ' | |||||||||||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | ' | |||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||
September 28, | September 29, | September 28, | September 29, | |||||||||||||||
(In millions except per share amounts) | 2013 | 2012 | 2013 | 2012 | ||||||||||||||
Income from Continuing Operations | $ | 317.7 | $ | 299.4 | $ | 936.1 | $ | 872.6 | ||||||||||
Loss from Discontinued Operations | -0.1 | -4.1 | -0.7 | -15.4 | ||||||||||||||
Loss on Disposal of Discontinued Operations, Net | — | -4.9 | -4.2 | -55.7 | ||||||||||||||
Net Income | $ | 317.6 | $ | 290.4 | $ | 931.2 | $ | 801.5 | ||||||||||
Basic Weighted Average Shares | 361.2 | 362.6 | 359.8 | 365.6 | ||||||||||||||
Plus Effect of: | ||||||||||||||||||
Equity forward arrangement | 2.5 | — | 0.8 | — | ||||||||||||||
Stock options and restricted units | 3.6 | 2.8 | 3.5 | 2.6 | ||||||||||||||
Diluted Weighted Average Shares | 367.3 | 365.4 | 364.1 | 368.2 | ||||||||||||||
Basic Earnings per Share: | ||||||||||||||||||
Continuing operations | $ | 0.88 | $ | 0.83 | $ | 2.6 | $ | 2.39 | ||||||||||
Discontinued operations | — | -0.02 | -0.01 | -0.19 | ||||||||||||||
$ | 0.88 | $ | 0.8 | $ | 2.59 | $ | 2.19 | |||||||||||
Diluted Earnings per Share: | ||||||||||||||||||
Continuing operations | $ | 0.86 | $ | 0.82 | $ | 2.57 | $ | 2.37 | ||||||||||
Discontinued operations | — | -0.02 | -0.01 | -0.19 | ||||||||||||||
$ | 0.86 | $ | 0.79 | $ | 2.56 | $ | 2.18 |
Comprehensive_Income_and_Share1
Comprehensive Income and Shareholders Equity (Tables) | 9 Months Ended | |||||||||||||||||
Sep. 28, 2013 | ||||||||||||||||||
Comprehensive Income and Shareholders Equity Disclosure [Abstract] | ' | |||||||||||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | ' | |||||||||||||||||
Changes in each component of accumulated other comprehensive items, net of tax are as follows: | ||||||||||||||||||
(In millions) | Currency Translation Adjustment | Unrealized Gains (Losses) on Available-for-Sale Investments | Unrealized Gains (Losses) on Hedging Instruments | Pension and Other Postretirement Benefit Liability Adjustment | Total | |||||||||||||
Balance at December 31, 2012 | $ | 87.4 | $ | 7.7 | $ | -32.9 | $ | -212.6 | $ | -150.4 | ||||||||
Other comprehensive income (loss) before reclassifications | -6.2 | 1.2 | 5 | -0.2 | -0.2 | |||||||||||||
Amounts reclassified from accumulated other comprehensive items | — | -8 | 2.4 | 5.8 | 0.2 | |||||||||||||
Net other comprehensive items | -6.2 | -6.8 | 7.4 | 5.6 | — | |||||||||||||
Balance at September 28, 2013 | $ | 81.2 | $ | 0.9 | $ | -25.5 | $ | -207 | $ | -150.4 | ||||||||
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | ' | |||||||||||||||||
The amounts reclassified out of accumulated other comprehensive items are as follows: | ||||||||||||||||||
Nine Months Ended | ||||||||||||||||||
Affected Line Item in the | September 28, | September 29, | ||||||||||||||||
(In millions) | Statement of Income | 2013 | 2012 | |||||||||||||||
Amounts Reclassified From Accumulated Other Comprehensive Items | ||||||||||||||||||
Unrealized gains and losses on available-for-sale investments | ||||||||||||||||||
Realized gain on sale or transfer of available-for-sale investments | Other Expense, Net | $ | -10.5 | $ | — | |||||||||||||
Tax provision | Provision for Income Taxes | 2.5 | — | |||||||||||||||
$ | -8 | $ | — | |||||||||||||||
Unrealized gains and losses on hedging instruments | ||||||||||||||||||
Realized loss on interest rate swaps and locks | Other Expense, Net | $ | 4 | $ | 3.9 | |||||||||||||
Tax benefit | Provision for Income Taxes | -1.6 | -1.5 | |||||||||||||||
$ | 2.4 | $ | 2.4 | |||||||||||||||
Pension and other postretirement benefit liability adjustment | ||||||||||||||||||
Amortization of actuarial losses | Net Periodic Benefit Cost - | $ | 8.6 | $ | 5 | |||||||||||||
Amortization of prior service benefit | see Note 6 for details | -0.2 | -0.1 | |||||||||||||||
Total before tax | 8.4 | 4.9 | ||||||||||||||||
Tax benefit | Provision for Income Taxes | -2.6 | -1.6 | |||||||||||||||
$ | 5.8 | $ | 3.3 | |||||||||||||||
Total reclassifications | $ | 0.2 | $ | 5.7 |
Fair_Value_Measurements_and_Fa1
Fair Value Measurements and Fair Value of Financial Instruments (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 28, 2013 | |||||||||||||||||
Fair Value Measurements and Fair Value of Financial Instruments Disclosure | ' | ||||||||||||||||
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | ' | ||||||||||||||||
The following table presents information about the company's financial assets and liabilities measured at fair value on a recurring basis as of September 28, 2013: | |||||||||||||||||
September 28, | Quoted Prices in Active Markets | Significant Other Observable Inputs | Significant Unobservable Inputs | ||||||||||||||
(In millions) | 2013 | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Assets | |||||||||||||||||
Cash equivalents | $ | 869.5 | $ | 869.5 | $ | — | $ | — | |||||||||
Investments in mutual funds, unit trusts and other similar instruments | 9.6 | 9.6 | — | — | |||||||||||||
Insurance contracts | 70.6 | — | 70.6 | — | |||||||||||||
Auction rate securities | 4.2 | — | — | 4.2 | |||||||||||||
Derivative contracts | 11.2 | — | 11.2 | — | |||||||||||||
Total Assets | $ | 965.1 | $ | 879.1 | $ | 81.8 | $ | 4.2 | |||||||||
Liabilities | |||||||||||||||||
Derivative contracts | $ | 3.3 | $ | — | $ | 3.3 | $ | — | |||||||||
Contingent consideration | 32.9 | — | — | 32.9 | |||||||||||||
Total Liabilities | $ | 36.2 | $ | — | $ | 3.3 | $ | 32.9 | |||||||||
The following table presents information about the company’s financial assets and liabilities measured at fair | |||||||||||||||||
value on a recurring basis as of December 31, 2012: | |||||||||||||||||
December 31, | Quoted Prices in Active Markets | Significant Other Observable Inputs | Significant Unobservable Inputs | ||||||||||||||
(In millions) | 2012 | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Assets | |||||||||||||||||
Cash equivalents | $ | 73.6 | $ | 73.6 | $ | — | $ | — | |||||||||
Investments in mutual funds, unit trusts and other similar instruments | 36.6 | 36.6 | — | — | |||||||||||||
Insurance contracts | 62.5 | — | 62.5 | — | |||||||||||||
Auction rate securities | 4.3 | — | — | 4.3 | |||||||||||||
Derivative contracts | 1.6 | — | 1.6 | — | |||||||||||||
Total Assets | $ | 178.6 | $ | 110.2 | $ | 64.1 | $ | 4.3 | |||||||||
Liabilities | |||||||||||||||||
Derivative contracts | $ | 0.8 | $ | — | $ | 0.8 | $ | — | |||||||||
Contingent consideration | 20.1 | — | — | 20.1 | |||||||||||||
Total Liabilities | $ | 20.9 | $ | — | $ | 0.8 | $ | 20.1 | |||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | ' | ||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 28, | September 29, | September 28, | September 29, | ||||||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Auction Rate Securities | |||||||||||||||||
Beginning Balance | $ | 4.2 | $ | 4.3 | $ | 4.3 | $ | 4.3 | |||||||||
Sale of securities | — | — | -0.1 | — | |||||||||||||
Ending Balance | $ | 4.2 | $ | 4.3 | $ | 4.2 | $ | 4.3 | |||||||||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | ' | ||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 28, | September 29, | September 28, | September 29, | ||||||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Contingent Consideration | |||||||||||||||||
Beginning Balance | $ | 33.7 | $ | 4.6 | $ | 20.1 | $ | 1.7 | |||||||||
Additions | — | 12.9 | — | 15.8 | |||||||||||||
Payments | -0.7 | -0.7 | -0.7 | -1 | |||||||||||||
Change in fair value included in earnings | -0.1 | — | 13.5 | 0.3 | |||||||||||||
Ending Balance | $ | 32.9 | $ | 16.8 | $ | 32.9 | $ | 16.8 | |||||||||
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | ' | ||||||||||||||||
Fair Value – Assets | Fair Value – Liabilities | ||||||||||||||||
September 28, | December 31, | September 28, | December 31, | ||||||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Derivatives Designated as Hedging Instruments | |||||||||||||||||
Interest rate forward swaps (a) | $ | 10.5 | $ | — | $ | 2.5 | $ | — | |||||||||
Derivatives Not Designated as Hedging Instruments | |||||||||||||||||
Currency exchange contracts (b) | 0.7 | 1.6 | 0.8 | 0.8 | |||||||||||||
(a) | The fair value of the interest rate forward swaps is included in the consolidated balance sheet under the captions other current assets and other accrued expenses. | ||||||||||||||||
(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. | ||||||||||||||||
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block] | ' | ||||||||||||||||
Gain (Loss) Recognized | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 28, | September 29, | September 28, | September 29, | ||||||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Derivatives Not Designated as Fair Value Hedges | |||||||||||||||||
Currency exchange contracts | |||||||||||||||||
Included in cost of revenues | $ | 1.5 | $ | 1.2 | $ | 2 | $ | 2.6 | |||||||||
Included in other expense, net | -26.8 | -8.8 | -12 | -2.2 | |||||||||||||
Fair Value, by Balance Sheet Grouping [Table Text Block] | ' | ||||||||||||||||
The carrying value and fair value of the company's notes receivable and debt obligations are as follows: | |||||||||||||||||
28-Sep-13 | 31-Dec-12 | ||||||||||||||||
Carrying | Fair | Carrying | Fair | ||||||||||||||
(In millions) | Value | Value | Value | Value | |||||||||||||
Notes Receivable | $ | 3.8 | $ | 3.8 | $ | 4.7 | $ | 4.7 | |||||||||
Debt Obligations: | |||||||||||||||||
Senior notes | $ | 7,008.20 | $ | 7,085.10 | $ | 7,019.50 | $ | 7,455.20 | |||||||||
Commercial paper | 50 | 50 | 50 | 50 | |||||||||||||
Other | 53.3 | 53.3 | 54.8 | 54.8 | |||||||||||||
$ | 7,111.50 | $ | 7,188.40 | $ | 7,124.30 | $ | 7,560.00 | ||||||||||
The fair value of debt obligations was determined based on quoted market prices and on borrowing rates | |||||||||||||||||
available to the company at the respective period ends which represent level 2 measurements. | |||||||||||||||||
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments [Table Text Block] | ' | ||||||||||||||||
The carrying value and fair value of the company's notes receivable and debt obligations are as follows: | |||||||||||||||||
28-Sep-13 | 31-Dec-12 | ||||||||||||||||
Carrying | Fair | Carrying | Fair | ||||||||||||||
(In millions) | Value | Value | Value | Value | |||||||||||||
Notes Receivable | $ | 3.8 | $ | 3.8 | $ | 4.7 | $ | 4.7 | |||||||||
Debt Obligations: | |||||||||||||||||
Senior notes | $ | 7,008.20 | $ | 7,085.10 | $ | 7,019.50 | $ | 7,455.20 | |||||||||
Commercial paper | 50 | 50 | 50 | 50 | |||||||||||||
Other | 53.3 | 53.3 | 54.8 | 54.8 | |||||||||||||
$ | 7,111.50 | $ | 7,188.40 | $ | 7,124.30 | $ | 7,560.00 | ||||||||||
The fair value of debt obligations was determined based on quoted market prices and on borrowing rates | |||||||||||||||||
available to the company at the respective period ends which represent level 2 measurements. |
Supplemental_Cash_Flow_Informa1
Supplemental Cash Flow Information (Tables) | 9 Months Ended | ||||||||
Sep. 28, 2013 | |||||||||
Supplemental Cash Flow Information [Abstract] | ' | ||||||||
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block] | ' | ||||||||
Nine Months Ended | |||||||||
September 28, | September 29, | ||||||||
(In millions) | 2013 | 2012 | |||||||
Non-cash Activities | |||||||||
Fair value of assets of acquired businesses and product lines | $ | — | $ | 1,164.30 | |||||
Cash paid for acquired businesses and product lines | — | -1,069.00 | |||||||
Liabilities assumed of acquired businesses and product lines | $ | — | $ | 95.3 | |||||
Fair value of available-for-sale investments contributed to defined benefit plans | $ | 27.1 | $ | — | |||||
Declared but unpaid dividends | $ | 55.5 | $ | 47.7 | |||||
Issuance of stock upon vesting of restricted stock units | $ | 63.2 | $ | 28.8 |
Restructuring_and_Other_Costs_1
Restructuring and Other Costs, Net (Tables) | 9 Months Ended | |||||||||||||||||
Sep. 28, 2013 | ||||||||||||||||||
Restructuring And Other Costs, Net Disclosure | ' | |||||||||||||||||
Schedule of Restructuring and Related Costs [Table Text Block] | ' | |||||||||||||||||
Third Quarter of 2013 | ||||||||||||||||||
During the third quarter of 2013, the company recorded net restructuring and other costs by segment as follows: | ||||||||||||||||||
(In millions) | Analytical Technologies | Specialty Diagnostics | Laboratory Products and Services | Corporate | Total | |||||||||||||
Cost of Revenues | $ | 0.4 | $ | 0.5 | $ | — | $ | — | $ | 0.9 | ||||||||
Selling, General and Administrative Expenses | 16.4 | -0.7 | — | 8.3 | 24 | |||||||||||||
Restructuring and Other Costs, Net | 1.4 | 5.2 | 4.7 | 0.1 | 11.4 | |||||||||||||
$ | 18.2 | $ | 5 | $ | 4.7 | $ | 8.4 | $ | 36.3 | |||||||||
During the first nine months of 2013, the company recorded net restructuring and other costs as follows: | ||||||||||||||||||
(In millions) | Analytical Technologies | Specialty Diagnostics | Laboratory Products and Services | Corporate | Total | |||||||||||||
Cost of Revenues | $ | 1.9 | $ | 24.7 | $ | 0.6 | $ | — | $ | 27.2 | ||||||||
Selling, General and Administrative Expenses | 26.7 | 12.9 | — | 8.3 | 47.9 | |||||||||||||
Restructuring and Other Costs, Net | 15 | 14.9 | 22.5 | 2 | 54.4 | |||||||||||||
$ | 43.6 | $ | 52.5 | $ | 23.1 | $ | 10.3 | $ | 129.5 | |||||||||
Schedule of Restructuring Reserve by Type of Cost [Table Text Block] | ' | |||||||||||||||||
The following table summarizes the cash components of the company's restructuring plans. The non-cash components and other amounts reported as restructuring and other costs, net, in the accompanying statement of income have been summarized in the notes to the tables. Accrued restructuring costs are included in other accrued expenses in the accompanying balance sheet. | ||||||||||||||||||
Abandonment | ||||||||||||||||||
(In millions) | Severance | of Excess Facilities | Other (a) | Total | ||||||||||||||
Pre-2012 Restructuring Plans | ||||||||||||||||||
Balance At December 31, 2012 | $ | 4.2 | $ | 5.9 | $ | 0.4 | $ | 10.5 | ||||||||||
Costs incurred in 2013 | 0.7 | 0.8 | — | 1.5 | ||||||||||||||
Reserves reversed | -0.1 | — | — | -0.1 | ||||||||||||||
Payments | -3.7 | -2.8 | — | -6.5 | ||||||||||||||
Balance At September 28, 2013 | $ | 1.1 | $ | 3.9 | $ | 0.4 | $ | 5.4 | ||||||||||
2012 Restructuring Plans | ||||||||||||||||||
Balance At December 31, 2012 | $ | 15.8 | $ | 2.4 | $ | 2.4 | $ | 20.6 | ||||||||||
Costs incurred in 2013 | 4.3 | 3 | 2.7 | 10 | ||||||||||||||
Reserves reversed | -1.8 | — | -0.2 | -2 | ||||||||||||||
Payments | -9.3 | -2.9 | -4.7 | -16.9 | ||||||||||||||
Currency translation | 0.1 | -0.2 | — | -0.1 | ||||||||||||||
Balance At September 28, 2013 | $ | 9.1 | $ | 2.3 | $ | 0.2 | $ | 11.6 | ||||||||||
2013 Restructuring Plans | ||||||||||||||||||
Costs incurred in 2013 | $ | 39.2 | $ | 2.3 | $ | 3.8 | $ | 45.3 | ||||||||||
Payments | -23.7 | -1.4 | -2.6 | -27.7 | ||||||||||||||
Currency translation | -1.9 | — | — | -1.9 | ||||||||||||||
Balance At September 28, 2013 | $ | 13.6 | $ | 0.9 | $ | 1.2 | $ | 15.7 | ||||||||||
(a) Other includes employee retention costs which are accrued ratably over the period through which employees must work to qualify for a payment. | ||||||||||||||||||
The company expects to pay accrued restructuring costs as follows: severance, employee-retention obligations and other costs, primarily through 2014; and abandoned-facility payments, over lease terms expiring through 2018. |
Discontinued_Operations_Tables
Discontinued Operations (Tables) | 9 Months Ended | ||||||||
Sep. 28, 2013 | |||||||||
Discontinued Operations [Abstract] | ' | ||||||||
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block] | ' | ||||||||
Operating results of the laboratory workstations business were as follows: | |||||||||
Three Months Ended | Nine Months Ended | ||||||||
September 29, | September 29, | ||||||||
(In millions) | 2012 | 2012 | |||||||
Revenues | $ | 44.7 | $ | 139 | |||||
Pre-tax Income (Loss) | -6.8 | -25.2 |
Additional_Accounting_Policy_a
Additional Accounting Policy and Balance Sheet Disclosures (Details) (USD $) | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 | Dec. 31, 2012 |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ' | ' | ' |
Notional Amount Of Derivatives | $1,620 | ' | $719 |
Presentation [Abstract] | ' | ' | ' |
Restricted Cash | 79 | ' | 45 |
Increase in Restricted Cash | 24.7 | 33.7 | ' |
Restricted Cash Serving as Collateral for Short-term Borrowings | $70 | ' | ' |
Warranty_Obligations_Details
Warranty Obligations (Details) (USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 |
Warranty Obligation [Roll Forward] | ' | ' |
Beginning Balance | $48.70 | $42.20 |
Provision charged to income | 51.8 | 48.7 |
Usage | -54.2 | -42.5 |
Adjustments to previously provided warranties, net | 0.7 | -0.4 |
Other, net | 0 | -0.2 |
Ending Balance | $47 | $47.80 |
Inventories_Details
Inventories (Details) (USD $) | Sep. 28, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Inventories [Abstract] | ' | ' |
Raw Materials | $373.20 | $362 |
Work in Process | 177.2 | 149.7 |
Finished Goods | 996.4 | 931.6 |
Inventories | $1,546.80 | $1,443.30 |
Property_Plant_and_Equipment_D
Property, Plant and Equipment (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Millions, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 28, 2013 | Sep. 29, 2012 | Dec. 31, 2012 |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' |
Property, Plant and Equipment, at Cost | $2,992.60 | ' | $2,992.60 | ' | $2,852 |
Less: Accumulated depreciation and amortization | 1,283.90 | ' | 1,283.90 | ' | 1,125.60 |
Property, Plant and Equipment, at Cost, Net | 1,708.70 | ' | 1,708.70 | ' | 1,726.40 |
Depreciation and amortization expense of property, plant and equipment | 59.4 | 59 | 176.4 | 175.8 | ' |
Land [Member] | ' | ' | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' |
Property, Plant and Equipment, at Cost | 213.3 | ' | 213.3 | ' | 216.6 |
Building and Improvements [Member] | ' | ' | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' |
Property, Plant and Equipment, at Cost | 806.6 | ' | 806.6 | ' | 805.5 |
Machinery, Equipment and Leasehold Improvements [Member] | ' | ' | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' |
Property, Plant and Equipment, at Cost | $1,972.70 | ' | $1,972.70 | ' | $1,829.90 |
Acquisitionrelated_Intangible_
Acquisition-related Intangible Assets (Details) (USD $) | Sep. 28, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Definite-Lived Intangible Assets [Line Items] | ' | ' |
Definite-Lived Intangible Assets, Gross | $10,093.40 | $10,403.10 |
Accumulated Amortization | -4,185.80 | -3,939.20 |
Definite-Lived Intangible Assets, Net | 5,907.60 | 6,463.90 |
Indefinite-lived Intangible Assets by Major Class [Line Items] | ' | ' |
Indefinite-Lived Intangible Assets | 1,340.60 | 1,340.60 |
Acquisition-related Intangible Assets, Gross | 11,434 | 11,743.70 |
Acquisition-related Intangible Assets, net of Accumulated Amortization | $7,248.20 | $7,804.50 |
Pending_Acquisition_Details
Pending Acquisition (Details) (USD $) | 9 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | ||||
Sep. 28, 2013 | Sep. 29, 2012 | Dec. 31, 2012 | Apr. 14, 2013 | Dec. 31, 2014 | Sep. 28, 2013 | Nov. 01, 2013 | Dec. 31, 2014 | |
Life Technologies Corporation [Member] | Life Technologies Corporation [Member] | Life Technologies Corporation [Member] | Life Technologies Corporation [Member] | Life Technologies Corporation [Member] | Life Technologies Corporation [Member] | |||
Scenario, Forecast [Member] | Unsecured 3-year Term Loan Facility | 364-day Unsecured Bridge Financing | Maximum [Member] | |||||
Scenario, Forecast [Member] | ||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Purchase Price Per Share | ' | ' | ' | $76 | ' | ' | ' | ' |
Estimated Aggregate Purchase Price | $0 | $1,069,000,000 | ' | ' | $13,600,000,000 | ' | ' | ' |
Estimated Debt Assumed | ' | ' | ' | ' | 1,800,000,000 | ' | ' | ' |
Maximum Borrowing Capacity | ' | ' | ' | ' | ' | 5,000,000,000 | 3,560,000,000 | ' |
Estimated Total Proceeds from Issuance or Sale of Equity | ' | ' | ' | ' | ' | ' | ' | 3,250,000,000 |
Estimated Proceeds from Settlement of Equity Forward Agreements | 204,900,000 | 131,300,000 | ' | ' | 2,500,000,000 | ' | ' | ' |
Estimated Proceeds from Other Equity | ' | ' | ' | ' | ' | ' | ' | 750,000,000 |
Business Acquisition, Revenue Reported by Acquired Entity for Last Annual Period | ' | ' | $3,800,000,000 | ' | ' | ' | ' | ' |
Completed_Acquisitions_Purchas
Completed Acquisitions Purchase Price (Details) (USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 |
Purchase Price | ' | ' |
Cash Paid | $0 | $1,069 |
Completed_Acquisitions_Other_I
Completed Acquisitions Other Information (Details) (USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 |
Other Information | ' | ' |
Purchase Price Paid | $5.50 | $1,072.40 |
Purchase Price Paid For Acquisitions Completed In A Prior Year | $6 | ' |
Acquisition_Pro_Forma_Results_
Acquisition Pro Forma Results (Details) (USD $) | 3 Months Ended | 9 Months Ended |
In Millions, except Per Share data, unless otherwise specified | Sep. 29, 2012 | Sep. 29, 2012 |
Business Acquisition, Pro Forma Information [Abstract] | ' | ' |
Revenues | $3,122.60 | $9,383.80 |
Income from Continuing Operations | 310.6 | 894.8 |
Net Income | $301.60 | $823.60 |
Earnings per Share from Continuing Operations: | ' | ' |
Basic (in dollars per share) | $0.86 | $2.45 |
Diluted (in dollars per share) | $0.85 | $2.43 |
Earnings per Share: | ' | ' |
Basic (in dollars per share) | $0.83 | $2.25 |
Diluted (in dollars per share) | $0.83 | $2.24 |
Business_Segment_Information_D
Business Segment Information (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||||||
In Millions, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 28, 2013 | Sep. 29, 2012 | Dec. 31, 2012 | ||||
Segment | |||||||||
Business Segments | ' | ' | ' | ' | ' | ||||
Number of Reportable Segments | ' | ' | 3 | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ||||
Revenues | $3,191.80 | $3,085.70 | $9,623.40 | $9,250.60 | ' | ||||
Cost of revenues charges | -0.9 | ' | -27.2 | ' | ' | ||||
Selling, general and administrative charges, net | -24 | ' | -47.9 | ' | ' | ||||
Restructuring and other costs, net | -11.4 | -15.2 | -54.4 | -51.7 | ' | ||||
Operating Income | 392.1 | 352.2 | 1,154.60 | 1,081.50 | ' | ||||
Other expense, net | -73.1 | -55.8 | -212.7 | -155.6 | ' | ||||
Income from Continuing Operations Before Income Taxes | 319 | 296.4 | 941.9 | 925.9 | ' | ||||
Depreciation | 59.4 | 59 | 176.4 | 175.8 | ' | ||||
Total Assets | 28,272.50 | ' | 28,272.50 | ' | 27,444.60 | ||||
Capital Expenditures | ' | ' | 187.9 | 210.7 | ' | ||||
Analytical Technologies [Member] | ' | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ||||
Cost of revenues charges | -0.4 | ' | -1.9 | ' | ' | ||||
Selling, general and administrative charges, net | -16.4 | ' | -26.7 | ' | ' | ||||
Restructuring and other costs, net | -1.4 | ' | -15 | ' | ' | ||||
Specialty Diagnostics [Member] | ' | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ||||
Cost of revenues charges | -0.5 | ' | -24.7 | ' | ' | ||||
Selling, general and administrative charges, net | 0.7 | ' | -12.9 | ' | ' | ||||
Restructuring and other costs, net | -5.2 | ' | -14.9 | ' | ' | ||||
Laboratory Products and Services [Member] | ' | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ||||
Cost of revenues charges | 0 | ' | -0.6 | ' | ' | ||||
Selling, general and administrative charges, net | 0 | ' | 0 | ' | ' | ||||
Restructuring and other costs, net | -4.7 | ' | -22.5 | ' | ' | ||||
Total Reportable Segments [Member] | ' | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ||||
Operating Income | 619.4 | [1] | 575.7 | [1] | 1,858.30 | [1] | 1,742.30 | [1] | ' |
Total Reportable Segments [Member] | Analytical Technologies [Member] | ' | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ||||
Revenues | 996.6 | 986.5 | 2,980.90 | 2,938.90 | ' | ||||
Operating Income | 180.4 | [1] | 186.1 | [1] | 534.4 | [1] | 533.9 | [1] | ' |
Depreciation | 15.9 | 15.1 | 46.2 | 47.3 | ' | ||||
Total Reportable Segments [Member] | Specialty Diagnostics [Member] | ' | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ||||
Revenues | 759.2 | 706.7 | 2,358.40 | 2,170.50 | ' | ||||
Operating Income | 203.7 | [1] | 170 | [1] | 642.3 | [1] | 556.2 | [1] | ' |
Depreciation | 18.2 | 18.2 | 54.7 | 53.8 | ' | ||||
Total Reportable Segments [Member] | Laboratory Products and Services [Member] | ' | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ||||
Revenues | 1,582.10 | 1,526.30 | 4,709.60 | 4,537.10 | ' | ||||
Operating Income | 235.3 | [1] | 219.6 | [1] | 681.6 | [1] | 652.2 | [1] | ' |
Depreciation | 25.3 | 25.7 | 75.5 | 74.7 | ' | ||||
Intersegment Eliminations [Member] | ' | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ||||
Revenues | -146.1 | -133.8 | -425.5 | -395.9 | ' | ||||
Segment Reconciling Items [Member] | ' | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ||||
Cost of revenues charges | -0.9 | -3.1 | -27.2 | -42.5 | ' | ||||
Selling, general and administrative charges, net | -24 | -19 | -47.9 | -13.1 | ' | ||||
Restructuring and other costs, net | -11.4 | -15.2 | -54.4 | -51.7 | ' | ||||
Amortization of acquisition-related intangible assets | ($191) | ($186.20) | ($574.20) | ($553.50) | ' | ||||
[1] | 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. |
Other_Expense_Net_Details
Other Expense, Net (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 28, 2013 | Sep. 29, 2012 |
Other Expense, Net Disclosure | ' | ' | ' | ' |
Interest Income | $7.10 | $5.90 | $21.40 | $19 |
Interest Expense | -64.3 | -60.3 | -193.1 | -175.4 |
Other Items, Net | -15.9 | -1.4 | -41 | 0.8 |
Other Expense, Net | -73.1 | -55.8 | -212.7 | -155.6 |
Gain on sale of investment accounted for under cost method | ' | ' | 5 | ' |
Fees Associated with Short-term Financing Commitments | 20 | ' | 61 | ' |
Fair value of available-for-sale investments contributed to defined benefit plans | ' | ' | 27.1 | ' |
Available-for-sale Securities, Gross Realized Gains | ' | ' | $11 | ' |
Stockbased_Compensation_Expens2
Stockbased Compensation Expense (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 28, 2013 | Sep. 29, 2012 |
Employee Service Share-based Compensation, Allocation Of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Stock Option Awards | $10.40 | $9.80 | $30.60 | $30 |
Restricted Share/Unit Awards | 12.5 | 10.5 | 36 | 27.8 |
Stock-based Compensation Expense | 22.9 | 20.3 | 66.6 | 57.8 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Options granted in period (in shares) | ' | ' | 1.9 | ' |
Restricted shares/units granted in period (in shares) | ' | ' | 0.9 | ' |
Stock Options [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Unrecognized Compensation Costs On Nonvested Awards | 75 | ' | 75 | ' |
Unrecognized Compensation Costs On Nonvested Awards, Weighted Average Period Of Recognition | ' | ' | '2 years 5 months | ' |
Stock Options [Member] | Maximum [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Unrecognized Compensation Costs On Nonvested Awards, Period Of Recognition | ' | ' | '4 years | ' |
Restricted Shares/Units [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Unrecognized Compensation Costs On Nonvested Awards | 78 | ' | 78 | ' |
Unrecognized Compensation Costs On Nonvested Awards, Weighted Average Period Of Recognition | ' | ' | '2 years 1 month | ' |
Restricted Shares/Units [Member] | Maximum [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Unrecognized Compensation Costs On Nonvested Awards, Period Of Recognition | ' | ' | '4 years | ' |
Cost of Revenues [Member] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation Of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Stock-based Compensation Expense | 1.8 | 1.2 | 5.2 | 3.8 |
Selling, General and Administrative Expenses [Member] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation Of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Stock-based Compensation Expense | 20.3 | 18.6 | 59 | 52.6 |
Research and Development Expenses [Member] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation Of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Stock-based Compensation Expense | $0.80 | $0.50 | $2.40 | $1.40 |
Pensions_Net_Benefit_Cost_Deta
Pensions Net Benefit Cost (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 28, 2013 | Sep. 29, 2012 |
Pension Plans, Defined Benefit [Member] | ' | ' | ' | ' |
Components of Net Benefit Cost (Income) | ' | ' | ' | ' |
Service Cost-Benefits Earned | $5.80 | $2.90 | $15.20 | $8.90 |
Interest Cost on Benefit Obligation | 11.9 | 12.7 | 35.8 | 38.2 |
Expected Return on Plan Assets | -13.3 | -13.8 | -39.7 | -41.4 |
Amortization of Actuarial Net Loss (Gain) | 2.8 | 1.7 | 8.5 | 5.1 |
Amortization of Prior Service Benefit | 0 | -0.1 | -0.2 | -0.1 |
Settlement/Curtailment (Gain) Loss | 0 | 0.1 | 0 | 0 |
Special Termination Benefits | 0.7 | 0 | 1.2 | 0.5 |
Net Periodic Benefit Cost (Income) | 7.9 | 3.5 | 20.8 | 11.2 |
Other Postretirement Benefits [Member] | ' | ' | ' | ' |
Components of Net Benefit Cost (Income) | ' | ' | ' | ' |
Service Cost-Benefits Earned | 0.1 | 0.1 | 0.4 | 0.5 |
Interest Cost on Benefit Obligation | 0.4 | 0.4 | 1.3 | 1.4 |
Amortization of Actuarial Net Loss (Gain) | 0 | -0.1 | 0.1 | -0.1 |
Net Periodic Benefit Cost (Income) | $0.50 | $0.40 | $1.80 | $1.80 |
EPS_Calculation_Details
EPS Calculation (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 28, 2013 | Sep. 29, 2012 |
Earnings per Share | ' | ' | ' | ' |
Income from Continuing Operations | $317.70 | $299.40 | $936.10 | $872.60 |
Loss from Discontinued Operations | -0.1 | -4.1 | -0.7 | -15.4 |
Loss on Disposal of Discontinued Operations, Net | 0 | -4.9 | -4.2 | -55.7 |
Net Income | $317.60 | $290.40 | $931.20 | $801.50 |
Basic Weighted Average Shares | 361.2 | 362.6 | 359.8 | 365.6 |
Effect of Equity Forward Agreements | 2.5 | 0 | 0.8 | 0 |
Effect of Stock Options and Restricted Units | 3.6 | 2.8 | 3.5 | 2.6 |
Diluted Weighted Average Shares | 367.3 | 365.4 | 364.1 | 368.2 |
Basic Earnings per Share: | ' | ' | ' | ' |
Continuing operations (in dollars per share) | $0.88 | $0.83 | $2.60 | $2.39 |
Discontinued operations (in dollars per share) | $0 | ($0.02) | ($0.01) | ($0.19) |
Earnings Per Share, Basic (in dollars per share) | $0.88 | $0.80 | $2.59 | $2.19 |
Diluted Earnings per Share: | ' | ' | ' | ' |
Continuing operations (in dollars per share) | $0.86 | $0.82 | $2.57 | $2.37 |
Discontinued operations (in dollars per share) | $0 | ($0.02) | ($0.01) | ($0.19) |
Earnings Per Share, Diluted (in dollars per share) | $0.86 | $0.79 | $2.56 | $2.18 |
Stock Options [Member] | ' | ' | ' | ' |
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Antidilutive Stock Options Excluded From Computation Of Earnings Per Share | 0.1 | 6.4 | 1.3 | 8.6 |
Debt_Shortterm_Financing_Detai
Debt Short-term Financing (Details) (USD $) | 9 Months Ended |
Sep. 28, 2013 | |
Revolving Credit Facility [Member] | ' |
Line of Credit Facility [Line Items] | ' |
Line of Credit Facility, Maximum Borrowing Capacity | $1,500,000,000 |
Line of Credit Facility, Expiration Date | 31-Jul-18 |
Line of Credit Facility, Interest Rate Description | 'The agreement calls for interest at either a LIBOR-based rate or a rate based on the prime lending rate of the agent bank, at the company’s option. |
Debt, Covenant, Maximum Consolidated Total Leverage Ratio of Debt to EBITDA | 3.5 |
Debt, Covenant, Maximum Consolidated Total Leverage Ratio of Debt to EBITDA First Six Months | 5.5 |
Debt, Covenant, Maximum Consolidated Total Leverage Ratio Of Debt To EBITDA After Eighteen Months | 3.5 |
Debt, Covenant, Minimum Consolidated Interest Coverage Ratio | 3 |
Letters of Credit Outstanding, Amount | 46,000,000 |
Line of Credit Facility, Amount Outstanding | 0 |
U.S. Commercial Paper Program [Member] | ' |
Short-term Financing [Line Items] | ' |
Short-term Borrowings | $50,000,000 |
Financing_Commitments_Details
Financing Commitments (Details) (Life Technologies Corporation [Member], USD $) | Sep. 28, 2013 | Nov. 01, 2013 | Sep. 28, 2013 |
In Billions, unless otherwise specified | Unsecured 3-year Term Loan Facility | 364-day Unsecured Bridge Financing | 364-day Unsecured Bridge Financing |
Unsecured 3-year Term Loan Facility | |||
Short-term Financing [Line Items] | ' | ' | ' |
Maximum Borrowing Capacity | $5 | $3.56 | ' |
Debt, Covenant, Maximum Consolidated Total Leverage Ratio of Debt to EBITDA First Six Months | ' | ' | 5.5 |
Debt, Covenant, Maximum Consolidated Total Leverage Ratio Of Debt To EBITDA After Eighteen Months | ' | ' | 3.5 |
Debt, Covenant, Minimum Consolidated Interest Coverage Ratio | ' | ' | 3 |
Interest_Rate_Swap_Arrangement
Interest Rate Swap Arrangements (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Millions, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 28, 2013 | Sep. 29, 2012 | Dec. 31, 2012 |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' |
Notional Amount Of Derivatives | $1,620 | ' | $1,620 | ' | $719 |
Change in fair value of cash flow hedges, net of tax | -1.7 | 0 | 5 | 0 | ' |
Interest Rate Swaps [Member] | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' |
Notional Amount Of Derivatives | $575 | ' | $575 | ' | ' |
Comprehensive_Income_and_Share2
Comprehensive Income and Shareholders' Equity (Details) (USD $) | 3 Months Ended | 9 Months Ended | 9 Months Ended | |||||||||||||||||
Sep. 28, 2013 | Sep. 29, 2012 | Sep. 28, 2013 | Sep. 29, 2012 | Dec. 31, 2012 | Sep. 28, 2013 | Jun. 29, 2013 | Sep. 28, 2013 | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 28, 2013 | Sep. 28, 2013 | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 28, 2013 | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 28, 2013 | Sep. 28, 2013 | Sep. 29, 2012 | |
Equity Forward Agreements [Member] | Equity Forward Agreements [Member] | Equity Forward Agreements [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | Currency Translation Adjustment [Member] | Unrealized Gains (Losses) on Available-for-Sale Investments [Member] | Unrealized Gains (Losses) on Available-for-Sale Investments [Member] | Unrealized Gains (Losses) on Available-for-Sale Investments [Member] | Unrealized Gains (Losses) on Hedging Instruments [Member] | Unrealized Gains (Losses) on Hedging Instruments [Member] | Unrealized Gains (Losses) on Hedging Instruments [Member] | Pension and Other Postretirement Benefit Liability Adjustment [Member] | Pension and Other Postretirement Benefit Liability Adjustment [Member] | Pension and Other Postretirement Benefit Liability Adjustment [Member] | ||||||
Maximum [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accumulated Other Comprehensive Items, Beginning Balance | ' | ' | ($150,400,000) | ' | ' | ' | ' | ' | ' | ' | $87,400,000 | $7,700,000 | ' | ' | ($32,900,000) | ' | ' | ($212,600,000) | ' | ' |
Other comprehensive income (loss) before reclassifications | ' | ' | -200,000 | ' | ' | ' | ' | ' | ' | ' | -6,200,000 | 1,200,000 | ' | ' | 5,000,000 | ' | ' | -200,000 | ' | ' |
Amounts reclassified from accumulated other comprehensive items | ' | ' | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | -8,000,000 | ' | ' | 2,400,000 | ' | ' | 5,800,000 | ' | ' |
Net other comprehensive items | 305,600,000 | 257,400,000 | 0 | 199,200,000 | ' | ' | ' | ' | ' | ' | -6,200,000 | -6,800,000 | ' | ' | 7,400,000 | ' | ' | 5,600,000 | ' | ' |
Accumulated Other Comprehensive Items, Ending Balance | -150,400,000 | ' | -150,400,000 | ' | ' | ' | ' | ' | ' | ' | 81,200,000 | 900,000 | ' | ' | -25,500,000 | ' | ' | -207,000,000 | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other Expense, Net | 73,100,000 | 55,800,000 | 212,700,000 | 155,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | -10,500,000 | 0 | ' | 4,000,000 | 3,900,000 | ' | ' | ' |
Net Periodic Benefit Cost - Amortization of Actuarial Losses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,600,000 | 5,000,000 |
Net Periodic Benefit Cost - Amortization of Prior Service Benefit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -200,000 | -100,000 |
Total Before Tax | -319,000,000 | -296,400,000 | -941,900,000 | -925,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,400,000 | 4,900,000 |
Provision for Income Taxes | 1,300,000 | -3,000,000 | 5,800,000 | 53,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | 2,500,000 | 0 | ' | -1,600,000 | -1,500,000 | ' | -2,600,000 | -1,600,000 |
Net of Tax | -317,600,000 | -290,400,000 | -931,200,000 | -801,500,000 | ' | ' | ' | ' | 200,000 | 5,700,000 | ' | ' | -8,000,000 | 0 | ' | 2,400,000 | 2,400,000 | ' | 5,800,000 | 3,300,000 |
Class of Stock Disclosures [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred Stock, $100 Par Value - Shares Authorized (in shares) | 50,000 | ' | 50,000 | ' | 50,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred Stock, $100 Par Value - Par Value (in dollars per share) | $100 | ' | $100 | ' | $100 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Forward Contract Indexed to Issuer's Equity [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Forward Contract Indexed to Issuer's Equity, Shares Borrowed and Sold by Counterparties, Shares | ' | ' | ' | ' | ' | ' | 29,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Forward Contract Indexed to Issuer's Equity, Shares Under Agreement | ' | ' | ' | ' | ' | ' | 29,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Forward Contract Indexed to Issuer's Equity, Shares Borrowed and Sold by Counterparty, Price per Share | ' | ' | ' | ' | ' | ' | $85.50 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Forward Contract Indexed to Issuer's Equity, Initial Forward Rate Per Share | ' | ' | ' | ' | ' | ' | $83.28 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Forward Contract Indexed to Issuer's Equity, Current Forward Rate Per Share | ' | ' | ' | ' | ' | $82.83 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Forward Contract Indexed To Issuer's Equity, Settlement Date | ' | ' | ' | ' | ' | ' | ' | 30-Aug-14 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Forward Contract Indexed To Issuer's Equity, Estimated Proceeds, Physical Settlement | ' | ' | ' | ' | ' | 2,450,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Forward Contract Indexed to Issuer's Equity, Estimated Payment, Cash Settlement | ' | ' | ' | ' | ' | $301,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Forward Contract Indexed to Issuer's Equity, Estimated Share Issuance, Net Share Settlement | ' | ' | ' | ' | ' | 3,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair_Value_Measurements_Assets
Fair Value Measurements, Assets and Liabilities (Details) (Fair Value, Measurements, Recurring [Member], USD $) | Sep. 28, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Assets | ' | ' |
Cash equivalents | $869.50 | $73.60 |
Investments in mutual funds, unit trusts and other similar instruments | 9.6 | 36.6 |
Insurance contracts | 70.6 | 62.5 |
Auction rate securities | 4.2 | 4.3 |
Derivative contracts | 11.2 | 1.6 |
Total Assets | 965.1 | 178.6 |
Liabilities | ' | ' |
Derivative contracts | 3.3 | 0.8 |
Contingent consideration | 32.9 | 20.1 |
Total Liabilities | 36.2 | 20.9 |
Quoted Prices in Active Markets (Level I) [Member] | ' | ' |
Assets | ' | ' |
Cash equivalents | 869.5 | 73.6 |
Investments in mutual funds, unit trusts and other similar instruments | 9.6 | 36.6 |
Total Assets | 879.1 | 110.2 |
Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Assets | ' | ' |
Insurance contracts | 70.6 | 62.5 |
Derivative contracts | 11.2 | 1.6 |
Total Assets | 81.8 | 64.1 |
Liabilities | ' | ' |
Derivative contracts | 3.3 | 0.8 |
Total Liabilities | 3.3 | 0.8 |
Significant Unobservable Inputs (Level 3) [Member] | ' | ' |
Assets | ' | ' |
Auction rate securities | 4.2 | 4.3 |
Total Assets | 4.2 | 4.3 |
Liabilities | ' | ' |
Contingent consideration | 32.9 | 20.1 |
Total Liabilities | $32.90 | $20.10 |
Fair_Value_Measurements_Level_
Fair Value Measurements, Level 3 Reconciliation (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 28, 2013 | Sep. 29, 2012 |
Contingent Consideration [Member] | ' | ' | ' | ' |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ' | ' |
Beginning Balance | $33.70 | $4.60 | $20.10 | $1.70 |
Additions | 0 | 12.9 | 0 | 15.8 |
Payments | -0.7 | -0.7 | -0.7 | -1 |
Change in fair value included in earnings | -0.1 | 0 | 13.5 | 0.3 |
Ending Balance | 32.9 | 16.8 | 32.9 | 16.8 |
Auction Rate Securities [Member] | ' | ' | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ' | ' |
Beginning Balance | 4.2 | 4.3 | 4.3 | 4.3 |
Sale of securities | 0 | 0 | -0.1 | 0 |
Ending Balance | $4.20 | $4.30 | $4.20 | $4.30 |
Fair_Value_Measurements_Deriva
Fair Value Measurements, Derivative Instruments (Details) (USD $) | Sep. 28, 2013 | Dec. 31, 2012 | Sep. 28, 2013 | Sep. 28, 2013 | Sep. 28, 2013 | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 28, 2013 | Dec. 31, 2012 | Sep. 28, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | Interest Rate Swaps [Member] | Interest Rate Swaps [Member] | Interest Rate Swaps [Member] | Foreign Currency Exchange Contracts [Member] | Foreign Currency Exchange Contracts [Member] | Foreign Currency Exchange Contracts [Member] | Foreign Currency Exchange Contracts [Member] | Foreign Currency Exchange Contracts [Member] | Foreign Currency Exchange Contracts [Member] | Foreign Currency Exchange Contracts [Member] | Foreign Currency Exchange Contracts [Member] | Foreign Currency Exchange Contracts [Member] | Foreign Currency Exchange Contracts [Member] | Foreign Currency Exchange Contracts [Member] | Foreign Currency Exchange Contracts [Member] | ||
Derivatives Designated as Hedging Instruments | Derivatives Designated as Hedging Instruments | Cost of Revenues [Member] | Cost of Revenues [Member] | Cost of Revenues [Member] | Cost of Revenues [Member] | Other Expense [Member] | Other Expense [Member] | Other Expense [Member] | Other Expense [Member] | Derivatives Not Designated as Fair Value Hedges | Derivatives Not Designated as Fair Value Hedges | Derivatives Not Designated as Fair Value Hedges | Derivatives Not Designated as Fair Value Hedges | ||||
Other Current Assets [Member] | Accrued Expense [Member] | Derivatives Not Designated as Fair Value Hedges | Derivatives Not Designated as Fair Value Hedges | Derivatives Not Designated as Fair Value Hedges | Derivatives Not Designated as Fair Value Hedges | Derivatives Not Designated as Fair Value Hedges | Derivatives Not Designated as Fair Value Hedges | Derivatives Not Designated as Fair Value Hedges | Derivatives Not Designated as Fair Value Hedges | Other Current Assets [Member] | Other Current Assets [Member] | Accrued Expense [Member] | Accrued Expense [Member] | ||||
Derivatives Fair Value [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notional Amount Of Derivatives | $1,620 | $719 | $575 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair Value - Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative Asset, Fair Value | ' | ' | ' | 10.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.7 | 1.6 | ' | ' |
Fair Value - Liabilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative Liability, Fair Value | ' | ' | ' | ' | 2.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.8 | 0.8 |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain (Loss) Recognized | ' | ' | ' | ' | ' | $1.50 | $1.20 | $2 | $2.60 | ($26.80) | ($8.80) | ($12) | ($2.20) | ' | ' | ' | ' |
Fair_Value_of_Other_Instrument
Fair Value of Other Instruments (Details) (USD $) | Sep. 28, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Other Financial Instruments [Abstract] | ' | ' |
Notes Receivable - Carrying Value | $3.80 | $4.70 |
Notes Receivable - Fair Value | 3.8 | 4.7 |
Carrying Value and Fair Value of Other Financial Instruments [Line Items] | ' | ' |
Debt Obligations - Carrying Value | 7,111.50 | 7,124.30 |
Debt Obligations - Fair Value | 7,188.40 | 7,560 |
Senior Notes [Member] | ' | ' |
Carrying Value and Fair Value of Other Financial Instruments [Line Items] | ' | ' |
Debt Obligations - Carrying Value | 7,008.20 | 7,019.50 |
Debt Obligations - Fair Value | 7,085.10 | 7,455.20 |
U.S. Commercial Paper Program [Member] | ' | ' |
Carrying Value and Fair Value of Other Financial Instruments [Line Items] | ' | ' |
Debt Obligations - Carrying Value | 50 | 50 |
Debt Obligations - Fair Value | 50 | 50 |
Other Debt [Member] | ' | ' |
Carrying Value and Fair Value of Other Financial Instruments [Line Items] | ' | ' |
Debt Obligations - Carrying Value | 53.3 | 54.8 |
Debt Obligations - Fair Value | $53.30 | $54.80 |
Supplemental_Cash_Flow_Informa2
Supplemental Cash Flow Information (Details) (USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 |
Non-cash Activities [Abstract] | ' | ' |
Fair value of assets of acquired businesses and product lines | $0 | $1,164.30 |
Cash paid for acquired businesses and product lines | 0 | -1,069 |
Fair value of liabilities assumed of acquired businesses and product lines | 0 | 95.3 |
Fair value of available-for-sale investments contributed to defined benefit plans | 27.1 | ' |
Declared but unpaid dividends | 55.5 | 47.7 |
Issuance of stock upon vesting of restricted stock units | $63.20 | $28.80 |
Restructuring_and_Other_Costs_2
Restructuring and Other Costs, Net (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Millions, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 28, 2013 | Sep. 29, 2012 | Nov. 01, 2013 |
Restructuring And Other Costs, Net Disclosure | ' | ' | ' | ' | ' |
Restructuring and Related Cost, Percentage of Total Workforce Eliminated | ' | ' | 2.00% | ' | ' |
Identified Future Restructuring Costs | ' | ' | ' | ' | $60 |
Restructuring Reserve [Line Items] | ' | ' | ' | ' | ' |
Cost of Revenues | 0.9 | ' | 27.2 | ' | ' |
Selling, General and Administrative Expenses | 24 | ' | 47.9 | ' | ' |
Restructuring and Other Costs, Net | 11.4 | 15.2 | 54.4 | 51.7 | ' |
Total Restructuring and Other Costs, Net | 36.3 | ' | 129.5 | ' | ' |
Analytical Technologies [Member] | ' | ' | ' | ' | ' |
Restructuring Reserve [Line Items] | ' | ' | ' | ' | ' |
Cost of Revenues | 0.4 | ' | 1.9 | ' | ' |
Selling, General and Administrative Expenses | 16.4 | ' | 26.7 | ' | ' |
Restructuring and Other Costs, Net | 1.4 | ' | 15 | ' | ' |
Total Restructuring and Other Costs, Net | 18.2 | ' | 43.6 | ' | ' |
Restructuring and Related Costs, Cash Costs | 3.4 | ' | 16.6 | ' | ' |
Asset Writedowns | ' | ' | 0.4 | ' | ' |
Gain (Loss) on Disposition of Property Plant Equipment | 2 | ' | 2 | ' | ' |
Analytical Technologies [Member] | Severance [Member] | ' | ' | ' | ' | ' |
Restructuring Reserve [Line Items] | ' | ' | ' | ' | ' |
Restructuring and Related Costs, Cash Costs | 3 | ' | 12.4 | ' | ' |
Analytical Technologies [Member] | Abandonment of Excess Facilities [Member] | ' | ' | ' | ' | ' |
Restructuring Reserve [Line Items] | ' | ' | ' | ' | ' |
Restructuring and Related Costs, Cash Costs | 0.2 | ' | 2.4 | ' | ' |
Analytical Technologies [Member] | Other Restructuring [Member] | ' | ' | ' | ' | ' |
Restructuring Reserve [Line Items] | ' | ' | ' | ' | ' |
Restructuring and Related Costs, Cash Costs | 0.2 | ' | 1.8 | ' | ' |
Specialty Diagnostics [Member] | ' | ' | ' | ' | ' |
Restructuring Reserve [Line Items] | ' | ' | ' | ' | ' |
Cost of Revenues | 0.5 | ' | 24.7 | ' | ' |
Selling, General and Administrative Expenses | -0.7 | ' | 12.9 | ' | ' |
Restructuring and Other Costs, Net | 5.2 | ' | 14.9 | ' | ' |
Total Restructuring and Other Costs, Net | 5 | ' | 52.5 | ' | ' |
Specialty Diagnostics [Member] | Severance [Member] | ' | ' | ' | ' | ' |
Restructuring Reserve [Line Items] | ' | ' | ' | ' | ' |
Restructuring and Related Costs, Cash Costs | 4.2 | ' | 13 | ' | ' |
Specialty Diagnostics [Member] | Other Restructuring [Member] | ' | ' | ' | ' | ' |
Restructuring Reserve [Line Items] | ' | ' | ' | ' | ' |
Restructuring and Related Costs, Cash Costs | 1.1 | ' | 2 | ' | ' |
Laboratory Products and Services [Member] | ' | ' | ' | ' | ' |
Restructuring Reserve [Line Items] | ' | ' | ' | ' | ' |
Cost of Revenues | 0 | ' | 0.6 | ' | ' |
Selling, General and Administrative Expenses | 0 | ' | 0 | ' | ' |
Restructuring and Other Costs, Net | 4.7 | ' | 22.5 | ' | ' |
Total Restructuring and Other Costs, Net | 4.7 | ' | 23.1 | ' | ' |
Restructuring and Related Costs, Cash Costs | 3.6 | ' | 21.1 | ' | ' |
Restructuring and Related Costs, Non-Cash Costs (Income), Net | 1.1 | ' | 1.4 | ' | ' |
Laboratory Products and Services [Member] | Severance [Member] | ' | ' | ' | ' | ' |
Restructuring Reserve [Line Items] | ' | ' | ' | ' | ' |
Restructuring and Related Costs, Cash Costs | 2.4 | ' | 15.2 | ' | ' |
Laboratory Products and Services [Member] | Abandonment of Excess Facilities [Member] | ' | ' | ' | ' | ' |
Restructuring Reserve [Line Items] | ' | ' | ' | ' | ' |
Restructuring and Related Costs, Cash Costs | 1.3 | ' | 3.4 | ' | ' |
Laboratory Products and Services [Member] | Other Restructuring [Member] | ' | ' | ' | ' | ' |
Restructuring Reserve [Line Items] | ' | ' | ' | ' | ' |
Restructuring and Related Costs, Cash Costs | ' | ' | 2.5 | ' | ' |
Corporate [Member] | ' | ' | ' | ' | ' |
Restructuring Reserve [Line Items] | ' | ' | ' | ' | ' |
Selling, General and Administrative Expenses | 8.3 | ' | 8.3 | ' | ' |
Restructuring and Other Costs, Net | 0.1 | ' | 2 | ' | ' |
Total Restructuring and Other Costs, Net | 8.4 | ' | 10.3 | ' | ' |
Restructuring and Related Costs, Cash Costs | 0.1 | ' | 2 | ' | ' |
Corporate [Member] | Severance [Member] | ' | ' | ' | ' | ' |
Restructuring Reserve [Line Items] | ' | ' | ' | ' | ' |
Restructuring and Related Costs, Cash Costs | $0.10 | ' | ' | ' | ' |
Restructuring_Reserves_Details
Restructuring Reserves (Details) (USD $) | 9 Months Ended |
In Millions, unless otherwise specified | Sep. 28, 2013 |
Severance [Member] | ' |
Restructuring Reserve [Roll Forward] | ' |
Restructuring Reserve, Expected Final Year of Payments | '2014 |
Abandonment of Excess Facilities [Member] | ' |
Restructuring Reserve [Roll Forward] | ' |
Restructuring Reserve, Expected Final Year of Payments | '2018 |
Other Restructuring [Member] | ' |
Restructuring Reserve [Roll Forward] | ' |
Restructuring Reserve, Expected Final Year of Payments | '2014 |
Pre-2012 Restructuring Plans [Member] | ' |
Restructuring Reserve [Roll Forward] | ' |
Beginning balance | $10.50 |
Costs incurred | 1.5 |
Reserves reversed | -0.1 |
Payments | -6.5 |
Ending balance | 5.4 |
Pre-2012 Restructuring Plans [Member] | Severance [Member] | ' |
Restructuring Reserve [Roll Forward] | ' |
Beginning balance | 4.2 |
Costs incurred | 0.7 |
Reserves reversed | -0.1 |
Payments | -3.7 |
Ending balance | 1.1 |
Pre-2012 Restructuring Plans [Member] | Abandonment of Excess Facilities [Member] | ' |
Restructuring Reserve [Roll Forward] | ' |
Beginning balance | 5.9 |
Costs incurred | 0.8 |
Reserves reversed | 0 |
Payments | -2.8 |
Ending balance | 3.9 |
Pre-2012 Restructuring Plans [Member] | Other Restructuring [Member] | ' |
Restructuring Reserve [Roll Forward] | ' |
Beginning balance | 0.4 |
Costs incurred | 0 |
Reserves reversed | 0 |
Payments | 0 |
Ending balance | 0.4 |
2012 Restructuring Plans [Member] | ' |
Restructuring Reserve [Roll Forward] | ' |
Beginning balance | 20.6 |
Costs incurred | 10 |
Reserves reversed | -2 |
Payments | -16.9 |
Currency translation | -0.1 |
Ending balance | 11.6 |
2012 Restructuring Plans [Member] | Severance [Member] | ' |
Restructuring Reserve [Roll Forward] | ' |
Beginning balance | 15.8 |
Costs incurred | 4.3 |
Reserves reversed | -1.8 |
Payments | -9.3 |
Currency translation | 0.1 |
Ending balance | 9.1 |
2012 Restructuring Plans [Member] | Abandonment of Excess Facilities [Member] | ' |
Restructuring Reserve [Roll Forward] | ' |
Beginning balance | 2.4 |
Costs incurred | 3 |
Reserves reversed | 0 |
Payments | -2.9 |
Currency translation | -0.2 |
Ending balance | 2.3 |
2012 Restructuring Plans [Member] | Other Restructuring [Member] | ' |
Restructuring Reserve [Roll Forward] | ' |
Beginning balance | 2.4 |
Costs incurred | 2.7 |
Reserves reversed | -0.2 |
Payments | -4.7 |
Currency translation | 0 |
Ending balance | 0.2 |
2013 Restructuring Plans [Member] | ' |
Restructuring Reserve [Roll Forward] | ' |
Costs incurred | 45.3 |
Payments | -27.7 |
Currency translation | -1.9 |
Ending balance | 15.7 |
2013 Restructuring Plans [Member] | Severance [Member] | ' |
Restructuring Reserve [Roll Forward] | ' |
Costs incurred | 39.2 |
Payments | -23.7 |
Currency translation | -1.9 |
Ending balance | 13.6 |
2013 Restructuring Plans [Member] | Abandonment of Excess Facilities [Member] | ' |
Restructuring Reserve [Roll Forward] | ' |
Costs incurred | 2.3 |
Payments | -1.4 |
Currency translation | 0 |
Ending balance | 0.9 |
2013 Restructuring Plans [Member] | Other Restructuring [Member] | ' |
Restructuring Reserve [Roll Forward] | ' |
Costs incurred | 3.8 |
Payments | -2.6 |
Currency translation | 0 |
Ending balance | $1.20 |
Discontinued_Operations_Detail
Discontinued Operations (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 28, 2013 | Sep. 29, 2012 |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' | ' |
Discontinued Operation Gain (Loss) on Disposal, Net of Tax | $0 | ($4.90) | ($4.20) | ($55.70) |
Laboratory Workstations Business [Member] | ' | ' | ' | ' |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' | ' |
Revenues | ' | 44.7 | ' | 139 |
Pre-tax Income (Loss) | ' | ($6.80) | ' | ($25.20) |
Acquisitionrelated_Intangible_1
Acquisition-related Intangible Assets, Future Amortization Expense (Details) (USD $) | Sep. 28, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Definite-Lived Intangible Assets, Future Amortization Expense [Abstract] | ' | ' |
Definite-Lived Intangible Assets, Net | $5,907.60 | $6,463.90 |
Goodwill_Details
Goodwill (Details) (USD $) | Sep. 28, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Goodwill [Roll Forward] | ' | ' |
Beginning balance | $12,495.30 | $12,474.50 |
Ending balance | $12,495.30 | $12,474.50 |
Geographical_Information_Detai
Geographical Information (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 28, 2013 | Sep. 29, 2012 |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' |
Revenues | $3,191.80 | $3,085.70 | $9,623.40 | $9,250.60 |
Stockbased_Compensation_Stock_
Stockbased Compensation, Stock Option Disclosures (Details) (USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 |
Stock-based Compensation Expense Disclosure [Abstract] | ' | ' |
Tax benefit related to employees' and directors' stock plans | $37.60 | $9.80 |
Options Outstanding [Roll Forward] | ' | ' |
Granted | 1.9 | ' |
Stockbased_Compensation_Restri
Stockbased Compensation, Restricted Units Disclosures (Details) | 9 Months Ended |
In Millions, unless otherwise specified | Sep. 28, 2013 |
Unvested Restricted Shares/Units [Roll Forward] | ' |
Granted | 0.9 |
Pensions_Benefit_Obligations_D
Pensions Benefit Obligations (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 28, 2013 | Sep. 29, 2012 |
Pension Plans, Defined Benefit [Member] | ' | ' | ' | ' |
Change in Projected Benefit Obligation [Roll Forward] | ' | ' | ' | ' |
Service costs | $5.80 | $2.90 | $15.20 | $8.90 |
Interest costs | 11.9 | 12.7 | 35.8 | 38.2 |
Other Postretirement Benefits [Member] | ' | ' | ' | ' |
Change in Projected Benefit Obligation [Roll Forward] | ' | ' | ' | ' |
Service costs | 0.1 | 0.1 | 0.4 | 0.5 |
Interest costs | $0.40 | $0.40 | $1.30 | $1.40 |
Pensions_Plan_Assets_Excluding
Pensions Plan Assets Excluding FV Disclosures (Details) (USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 |
Change in Fair Value of Plan Assets [Roll Forward] | ' | ' |
Employer contribution | $25.60 | $16.30 |
Income_Taxes_Components_Detail
Income Taxes Components (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 28, 2013 | Sep. 29, 2012 |
Components of Income From Continuing Operations Before Income Taxes [Abstract] | ' | ' | ' | ' |
Income from Continuing Operations Before Income Taxes | $319 | $296.40 | $941.90 | $925.90 |
Components of Income Tax Expense (Benefit), Continuing Operations [Abstract] | ' | ' | ' | ' |
Provision for Income Taxes | 1.3 | -3 | 5.8 | 53.3 |
Excess income tax benefits from stock-based compensation plans recognized in equity | ' | ' | $37.60 | $9.80 |
Income_Taxes_Rate_Reconciliati
Income Taxes Rate Reconciliation (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 28, 2013 | Sep. 29, 2012 |
Income Tax Expense (Benefit), Continuing Operations, Income Tax Reconciliation [Abstract] | ' | ' | ' | ' |
Provision for Income Taxes | $1.30 | ($3) | $5.80 | $53.30 |
Debt_Outstanding_Debt_Details
Debt Outstanding Debt (Details) (USD $) | Sep. 28, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Debt Instrument [Line Items] | ' | ' |
Debt Obligations - Carrying Value | $7,111.50 | $7,124.30 |
Less: Short-term obligations and current maturities of long-term obligations | 393.6 | 93.1 |
Long-term Obligations | 6,717.90 | 7,031.20 |
Commercial Paper [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Debt Obligations - Carrying Value | 50 | 50 |
Senior Notes [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Debt Obligations - Carrying Value | 7,008.20 | 7,019.50 |
Other Debt [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Debt Obligations - Carrying Value | $53.30 | $54.80 |
Unaudited_Quarterly_Informatio
Unaudited Quarterly Information (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 28, 2013 | Sep. 29, 2012 |
Unaudited Quarterly Information [Abstract] | ' | ' | ' | ' |
Revenues | $3,191.80 | $3,085.70 | $9,623.40 | $9,250.60 |
Income from Continuing Operations | 317.7 | 299.4 | 936.1 | 872.6 |
Net income | 317.6 | 290.4 | 931.2 | 801.5 |
Earnings per Share from Continuing Operations [Abstract] | ' | ' | ' | ' |
Basic (in dollars per share) | $0.88 | $0.83 | $2.60 | $2.39 |
Diluted (in dollars per share) | $0.86 | $0.82 | $2.57 | $2.37 |
Earnings per Share | ' | ' | ' | ' |
Basic (in dollars per share) | $0.88 | $0.80 | $2.59 | $2.19 |
Diluted (in dollars per share) | $0.86 | $0.79 | $2.56 | $2.18 |
Cash Dividend Declared per Common Share (in dollars per share) | $0.15 | $0.13 | $0.45 | $0.39 |
Total Restructuring and Other Costs (Income), Net | $36.30 | ' | $129.50 | ' |