DHR · 10-Q · 2026Q3 · Full report

Supply Chain Tariff Impact

DANAHER CORP /DE/ · 2026-10-21 · Importance 47 · Surprise 60 · In source text

In February 2026, the U.S. Supreme Court ruled that the International Emergency Economic Powers Act (IEEPA) did not authorize certain tariffs imposed by the U.S. administration. On March 4, 2026, the U.S. Court of International Trade ordered U.S. Customs and Border Protection to process refunds of certain IEEPA tariffs, and Danaher intends to pursue eligible refunds. The 2025 and first-nine-month 2026 tariffs did not materially affect Danaher’s business or financial statements, while the net earnings impact of IEEPA tariff refunds, after refunds to customers, was less than $100 million. The administration subsequently imposed new tariffs under alternative statutory authority, but the timing and amount of additional refunds and the impact of the new tariffs remain uncertain.

Key facts

• The U.S. Supreme Court ruled in February 2026 that the International Emergency Economic Powers Act does not authorize the imposition of such tariffs. source
• On March 4, 2026, the U.S. Court of International Trade ordered CBP to process refunds of the IEEPA tariffs and CBP has begun accepting and processing applications for refunds on certain IEEPA tariffs. source
• Receipt of IEEPA tariff refunds were recorded as a reduction of cost of sales in both periods referenced. source
• Tariff refunds to customers decreased reported sales by 1.0% during the three-month period ended September 25, 2026. source
• The impact to net earnings of the IEEPA tariff refunds, net of tariff refunds to customers, was less than $100 million. source

Impact estimates