Acquisitions and Dispositions

3 Months Ended

Mar. 31, 2012

Acquisitions and Dispositions Disclosure

Acquisitions and Dispositions [Text Block]

Note 2.       Acquisitions and Dispositions

The company made contingent purchase price and post closing adjustment payments totaling$0.5 million in the first three months of 2012,for acquisitions completed prior to 2012. The contingent purchase price payments were contractually due to the sellers upon achievement of certain performance criteria at the acquired businesses.

The company acquired Dionex Corporation in May 2011 and the Phadia group in August 2011. Had the acquisitions of Dionex and Phadia been completed as of the beginning of 2010, the company's pro forma results for 2011 would have been as follows:

		Three Months
		Ended
(In millions except per share amounts)		April 2, 2011
Revenues		$	2,987.4
Income from Continuing Operations		$	265.0
Net Income		$	270.0
Earnings per Share from Continuing Operations:
	Basic	$	0.68
	Diluted	$	0.67
Earnings per Share:
	Basic	$	0.69
	Diluted	$	0.68

Pro forma results include the following non-recurring pro forma adjustments that were directly attributable to the business combinations:

• Pre-tax reduction in revenue of $1.1million inthe first three months of 2011,due to the impact of revaluing Dionex deferred revenue obligations to fair value.
•        Pre-tax increase in income of $3.0 million in the first three months of 2011, for acquisition-related transaction costs incurred by the company.

       The company's results would not have been materially different from its pro forma results had the company's other 2011 acquisitions occurred at the beginning of 2010.

Dispositions

       On April 4, 2011, the company sold, in separate transactions, its Athena Diagnostics business for $740 million in cash and its Lancaster Laboratories business for $180 million in cash and escrowed proceeds of $20 million, due in October 2012. The sale of these businesses resulted in an after-tax gain of approximately $304 million or $0.79 per diluted share in 2011. The results of both businesses have been included in the accompanying financial statements as discontinued operations. Operating results of the discontinued operations in the first quarter of 2011 were as follows:

(In millions)	2011
Revenues	$	54.3
Pre-tax Income		9.1