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Tables in the 10-K of Veralto Corp

66 tables with numbers, filed Feb 20, 2026. Each one downloads as a CSV for Excel or Google Sheets, with the filing's address in the last row. Only the layout is tidied (a "$" or ")" in a cell of its own is joined to its number); no value is changed. Open the filing on sec.gov ↗

		PAGE
INFORMATION RELATING TO FORWARD-LOOKING STATEMENTS	1
PART I
	Item 1.	Business	4
	Item 1A.	Risk Factors	11
	Item 1B.	Unresolved Staff Comments	23
	Item 1C.	Cybersecurity	23
	Item 2.	Properties	24

	2025 vs. 2024	2024 vs. 2023
Total sales growth GAAP	6.0%		3.4%
Impact of:
Acquisitions/divestitures	(0.1)%		—%
Currency exchange rates	(1.2)%		0.3%
Core sales growth (non-GAAP)	4.7%		3.7%

($ in millions)	2025	2024		2023
Water Quality	$3,321		$3,138		$3,039
Product Quality & Innovation	2,182		2,055		1,982
Total	$5,503		$5,193		$5,021

	Year Ended December 31
($ in millions)	2025	2024		2023
Sales	$5,503		$5,193		$5,021
Cost of sales	(2,204)		(2,088)		(2,120)
Gross profit	$3,299		$3,105		$2,901
Gross profit margin	59.9%		59.8%		57.8%

	As of December 31
	2025	2024
ASSETS
Current assets:
Cash and cash equivalents	$2,031		$1,101
Trade accounts receivable, less allowance for credit losses of $36 and $37, respectively	897		812
Inventories	307		288
Prepaid expenses and other current assets	197		186

VERALTO CORPORATIONCONSOLIDATED AND COMBINED STATEMENTS OF STOCKHOLDERS’ EQUITY
($ and shares in millions)
	Common Stock
	Shares	Amount		Additional Paid-In Capital	Retained Earnings	Net Former Parent Investment		Accumulated Other Comprehensive Income (Loss)			Noncontrolling Interests
January 1, 2023	—		$—		$—		$—		$4,189	$(954)		$5
Net earnings for the year	—		—		—		200		639	—		—
Dividends declared	—		—		—		(22)		—	—		—
Recapitalization	246.3		2		—		—		(2)	—		—

($ in millions)	TraceGains
Trade accounts receivable	$5
Intangible assets - trade names	5
Intangible assets - developed technology	86
Intangible assets - customer relationships	55
Goodwill	240
Deferred revenue	(18)
Deferred tax liabilities	(21)

($ and shares in millions, except per share amounts)	2025	2024		2023
Numerator:
Net earnings	$940		$833		$839
Denominator:
Weighted average common shares outstanding used in Basic EPS	248.3		247.3		246.4
Incremental shares from assumed exercise of dilutive options and vesting of dilutive RSUs and PSUs	2.0		2.3		0.4
Weighted average common shares outstanding used in Diluted EPS	250.3		249.6		246.8
Basic EPS	$3.79		$3.37		$3.41

	2025
($ in millions, except % of pretax earnings)	$ Value	% of Pretax Earnings
Statutory federal income tax rate	$246		21.0%
Increase (decrease) in tax rate resulting from:
State income taxes (net of Federal income tax benefit) (a)	26		2.2
Foreign tax effects:
Germany:
Statutory rate difference	14		1.2

	Percentage of Pretax Earnings
	2024	2023
Statutory federal income tax rate	21.0%		21.0%
Increase (decrease) in tax rate resulting from:
State income taxes (net of Federal income tax benefit)	2.0		1.9
Non-U.S. rate differential	2.1		3.5
US Taxation of Foreign Earnings	(4.2)		(2.1)
Change in uncertain tax positions	3.2		—

	Year Ended December 31
($ in millions)	2025	2024		2023
Sales	$5,503		$5,193		$5,021
Selling, general and administrative (“SG&A”) expenses	(1,756)		(1,644)		(1,536)
Research and development (“R&D”) expenses	(266)		(253)		(225)
SG&A as a % of sales	31.9%		31.7%		30.6%
R&D as a % of sales	4.8%		4.9%		4.5%

	Year Ended December 31
($ in millions)	2025	2024		2023
Sales	$2,182		$2,055		$1,982
Operating profit	549		529		472
Depreciation	15		14		15
Amortization of intangible assets	26		22		27
Operating profit as a % of sales	25.2%		25.7%		23.8%
Depreciation as a % of sales	0.7%		0.7%		0.8%

($ in millions)	2025	2024		2023
Net cash provided by operating activities	$1,077		$875		$963
Cash paid for acquisitions, net of cash acquired	$—		$(363)		$—
Payments for additions to property, plant and equipment	(63)		(55)		(54)
All other investing activities	(35)		(16)		(1)
Net cash used in investing activities	$(98)		$(434)		$(55)
Proceeds from issuance of common stock in connection with stock-based compensation	$22		$24		$4
Net transfers to Former Parent	—		—		(147)

	Year Ended December 31
	2025	2024		2023
Net earnings	$940		$833		$839
Other comprehensive income (loss), net of income taxes:
Foreign currency translation adjustments	220		(139)		29
Pension and postretirement plan benefit adjustments	(2)		(4)		(15)
Unrealized gain (loss) on net investment hedges	(60)		26		(14)
Total other comprehensive income (loss), net of income taxes	158		(117)		—

($ in millions)	2025
Federal	$71
State	$29
Brazil	$16
China	$12
Germany	$44
Other Foreign	$63
Total Taxes Paid	$235

2026	$55
2027	43
2028	32
2029	25
2030	19
Thereafter	64
Total operating lease payments	238
Less: imputed interest	(32)

($ in millions)	Quoted Prices in Active Market (Level 1)	Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)	Total
December 31, 2025
Liabilities:
Deferred compensation liabilities	$42		$—		$—	$42
Cross-currency swap derivative contracts	—		9		—	9
Total Liabilities	$42		$9		$—	$51
December 31, 2024
Liabilities:

($ in millions)	Outstanding Amount
Description and Aggregate Principal Amount	2025	2024
5.50% senior unsecured notes due 9/18/2026 ($700 million) (the “2026 Notes”)	$700		$697
5.35% senior unsecured notes due 9/18/2028 ($700 million) (the “2028 Notes”)	696		696
4.15% senior unsecured notes due 9/19/2031 (€500 million) (the “2031 Notes”)	584		513
5.45% senior unsecured notes due 9/18/2033 ($700 million) (the "2033 Notes")	693		693
Total Debt	2,673		2,599
Less: current portion of long-term debt	(700)		—

($ in millions)	Notional Amount Outstanding	Gain (Loss) Recognized in OCI		Amounts Reclassified from OCI
Year ended December 31, 2025:
Net investment hedges:
Cross-currency contracts	$410		$(9)		$—
Foreign currency denominated debt	584		(70)		$—
Total	$994		$(79)		$—
Year ended December 31, 2024:
Net investment hedges:

	2025	2024
Discount rate	2.0%		1.7%
Rate of compensation increase	2.2%		2.2%

(in millions, except weighted average exercise price and number of years)	Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value
Balance, January 1, 2023	—		$—
Awards converted from Former Parent Plan	5.7		58.22
Granted	0.1		77.53
Exercised	(0.1)		31.81
Cancelled/forfeited	(0.1)		78.05
Outstanding as of December 31, 2023	5.6		$58.93		6.3	$141
Granted	0.9		89.15

(in millions, except price per share and number of years)	Outstanding	Exercisable
Exercise Price	Shares	Average Exercise Price		Average Remaining Life (in years)	Shares	Average Exercise Price
$22.04 to $43.78	1.1		$32.87		2	1.1	$32.87
$43.79 to $75.81	1.1		62.22		4	1.0	60.46
$75.82 to $86.70	1.0		82.26		6	0.4	82.27
$86.71 to $98.00	1.1		88.54		6	0.5	89.83
$98.01 to $102.68	1.1		99.98		8	0.2	100.27

(in millions, except weighted average grant-date fair value)	Number of RSUs	Weighted AverageGrant-Date Fair Value
Unvested as of January 1, 2023	—		$—
Awards from Former Parent plan	1.0		76.38
Granted	0.1		76.19
Vested	(0.1)		80.20
Forfeited	—		77.93
Unvested as of December 31, 2023	1.0		$76.23
Granted	0.5		95.60

($ in millions)	Foreign Currency Translation Adjustments	Net Investment Hedges		Pension and Postretirement Plan Benefit Adjustments			Accumulated Comprehensive Income (Loss)
Balance, January 1, 2023	$(968)		$—		$14			$(954)
Other comprehensive income (loss) before reclassifications:
Increase (decrease)	29		(19)		(18)			(8)
Income tax impact	—		5		2			7
Other comprehensive income (loss) before reclassifications, net of income taxes	29		(14)		(16)			(1)
Reclassification adjustments
Increase	—		—		1	(a)		1

Tables in the 10-K of Veralto Corp

Table 1 after “TABLE OF CONTENTS”

Table 2 after “Sales Growth and Core Sales Growth”

Table 3 after “Sales by business segment for the years ended December 31 are as follows:”

Table 4 after “Cost of Sales and Gross Profit”

Table 5 after “Operating Expenses”

Table 6 after “Water Quality Selected Financial Data”

Table 7 after “Sales Growth and Core Sales Growth”

Table 8 after “Product Quality & Innovation Selected Financial Data”

Table 9 after “Sales Growth and Core Sales Growth”

Table 10 after “The following table summarizes the Company’s effective tax rate:”

Table 11 after “Following is an overview of the Company’s cash flows and liquidity for the years ended December 31:”

Table 12 after “($ in millions, except per share amounts)”

Table 13 after “($ and shares in millions, except per share amounts)”

Table 14 after “($ in millions)”

Table 15 after “Table of Contents”

Table 16 after “Table of Contents”

Table 17 after “($ in millions)”

Table 18 after “The classes of inventory as of December 31 are summarized as follows:”

Table 19 after “The classes of property, plant and equipment as of December 31 are summarized as follows:”

Table 20 after “The following summarizes the estimated fair values of the assets acquired and liabilities assumed at the date of acquisition for the individ”

Table 21 after “Information related to the calculation of net earnings per common share for the years ended December 31 is summarized as follows:”

Table 22 after “The following table presents the Company’s revenues disaggregated by geographical region and revenue type. Sales taxes and other usage-based”

Table 23 after “Detailed segment data for the years ended December 31 is as follows:”

Table 24 after “Identifiable assets by segment for the years ended December 31 are as follows:”

Table 25 after “2025”

Table 26 after “2024”

Table 27 after “2023”

Table 28 after “Operations in Geographical Areas:”

Table 29 after “Earnings from operations before income taxes for the years ended December 31 were as follows:”

Table 30 after “The provision for income taxes for the years ended December 31 were as follows:”

Table 31 after “The effective income tax rate from operations for the years ended December 31 varies from the U.S. statutory federal income tax rate as foll”

Table 32 after “(a) States that make up 50% of provision include: CA, CT, IL, NY, PA, and VA”

Table 33 after “Significant components of the Company’s deferred tax assets and liabilities from operations at the end of each fiscal year were as follows:”

Table 34 after “A reconciliation of the beginning and ending amount of unrecognized tax benefits, excluding amounts accrued for potential interest and penal”

Table 35 after “Income taxes paid, net of refunds received, by jurisdiction for the year ended December 31 is as follows:”

Table 36 after “The following sets forth the components of the Company’s other income (expense), net:”

Table 37 after “The Consolidated and Combined Financial Statements include the following amounts related to operating leases where the Company is the lessee”

Table 38 after “The following table presents the maturity of the Company’s operating lease liabilities as of December 31, 2025 ($ in millions):”

Table 39 after “The following is a rollforward of the Company’s goodwill by segment:”

Table 40 after “The following summarizes the gross carrying value and accumulated amortization for each major category of intangible assets as of December 3”

Table 41 after “A summary of financial liabilities that are measured at fair value on a recurring basis were as follows:”

Table 42 after “The carrying amounts and fair values of the Company’s other financial instruments as of December 31 were as follows:”

Table 43 after “Accrued expenses and other liabilities as of December 31 were as follows:”

Table 44 after “The components of the Company’s debt as of December 31, less unamortized debt discounts and debt issuance costs, were as follows:”

Table 45 after “The Company’s minimum principal payments for the next five years are as follows ($ in millions):”

Table 46 after “The following table summarizes the notional values as of December 31, 2025 and 2024 and pretax impact of changes in the fair values of instr”

Table 47 after “The Company’s derivative instruments, as well as its nonderivative debt instrument designated and qualifying as a net investment hedge, were”

Table 48 after “The following sets forth the funded status of the Company's plans as of the most recent actuarial valuations using measurement dates of Dece”

Table 49 after “Projected benefit obligation (“PBO”) and fair value of plan assets for pension plans and postretirement benefit plans with PBOs in excess of”

Table 50 after “Accumulated benefit obligation (“ABO”) and fair value of plan assets for pension plans and postretirement benefit plans with ABOs in excess ”

Table 51 after “Weighted average assumptions used to determine benefit obligations at date of measurement:”

Table 52 after “Components of net periodic pension and postretirement benefit (cost):”

Table 53 after “Weighted average assumptions used to determine net periodic pension benefit (cost) at date of measurement:”

Table 54 after “The following sets forth benefit payments, which reflect expected future service, as appropriate, expected to be paid by the plans in the pe”

Table 55 after “The following summarizes the assumptions used in the Black-Scholes model to value options granted during the years ended December 31:”

Table 56 after “The following summarizes option activity under the Company’s stock plans:”

Table 57 after “Options outstanding as of December 31, 2025 are summarized below:”

Table 58 after “The following summarizes information on unvested RSU activity:”

Table 59 after “The changes in accumulated other comprehensive income (loss) by component are summarized below.”

Table 60 after “Set forth below are the names, ages, positions and experience of Veralto’s executive officers as of February 3, 2026. All of Veralto’s execu”

Table 61 after “EXHIBIT INDEX”

Table 62 after “Table of Contents”

Table 63 after “Table of Contents”

Table 64 after “Pursuant to the requirements of the Securities Exchange Act of 1934, this Annual Report has been signed below by the following persons on be”

Table 65 after “Table of Contents”

Table 66 after “($ in millions)”

Name	Age	Position
Jennifer L. Honeycutt	56	President and Chief Executive Officer; Director
Sameer Ralhan	52	Senior Vice President and Chief Financial Officer
Melissa Kapity	54	Senior Vice President and Chief Segment Officer, Water Quality
Mattias Byström	53	Senior Vice President and Chief Segment Officer, Product Quality & Innovation
Surekha Trivedi	51	Senior Vice President, Strategy & Sustainability
Lesley Beneteau	53	Senior Vice President and Chief Human Resources Officer
Kimberly Chainey	50	Senior Vice President and Chief Legal Officer

Exhibit Number	Description
2.1	Separation and Distribution Agreement, dated as of September 29, 2023, by and between Veralto Corporation and Danaher Corporation (incorporated by reference to Exhibit 2.1 to Veralto Corporation’s Current Report on Form 8-K filed October 2, 2023)
3.1	Second Amended and Restated Certificate of Incorporation of Veralto Corporation (incorporated by reference to Exhibit 3.1 to Veralto Corporation’s Current Report on Form 8-K filed May 15, 2025)
3.2	Second Amended and Restated Bylaws of Veralto Corporation (incorporated by reference to Exhibit 3.2 to Veralto Corporation’s Current Report on Form 8-K filed May 15, 2025)
4.1	Indenture, dated as of September 18, 2023, between Veralto Corporation, as issuer, and Deutsche Bank Trust Company Americas, a New York banking corporation, as trustee (incorporated by reference to Exhibit 4.1 to Veralto Corporation’s Current Report on Form 8-K filed September 19, 2023)
4.2	Registration Rights Agreement, dated as of September 18, 2023, by and among Veralto Corporation and Barclays Capital Inc., BNP Paribas Securities Corp., BofA Securities, Inc., Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC, as representatives of the initial purchasers of the USD Notes (incorporated by reference to Exhibit 4.2 to Veralto Corporation’s Current Report on Form 8-K filed September 19, 2023)
4.3	Indenture, dated as of September 19, 2023, between Veralto Corporation, as issuer, and Deutsche Bank Trust Company Americas, a New York banking corporation, as trustee (incorporated by reference to Exhibit 4.3 to Veralto Corporation’s Current Report on Form 8-K filed September 19, 2023)
4.4	Registration Rights Agreement, dated as of September 19, 2023, by and among Veralto Corporation and Deutsche Bank AG, London Branch and Goldman Sachs & Co. LLC, as representatives of the initial purchasers of the Euro Notes (incorporated by reference to Exhibit 4.4 to Veralto Corporation’s Current Report on Form 8-K filed September 19, 2023)

10.11	Credit Agreement, dated as of August 31, 2023, by and among Veralto Corporation, certain subsidiaries of Veralto Corporation, Bank of America, N.A., as administrative agent and Bank of America, N.A. as lender and swing line lender (incorporated by reference to Exhibit 10.25 to Amendment No. 2 to Veralto Corporation’s Registration Statement on Form 10 filed August 31, 2023)*
10.12	Form of Veralto Corporation Director and Officer Indemnification Agreement (incorporated by reference to Exhibit 10.6 to Amendment No. 2 to Veralto Corporation’s Registration Statement on Form 10 filed August 31, 2023)*
10.13	Offer of Employment Letter, dated as of January 27, 2023, between Danaher Corporation and Jennifer Honeycutt (incorporated by reference to Exhibit 10.7 to Amendment No. 2 to Veralto Corporation’s Registration Statement on Form 10 filed August 31, 2023)*
10.14	Offer of Employment Letter, dated as of May 12, 2023, between DH EAS Employment LLC and Sameer Ralhan (incorporated by reference to Exhibit 10.8 to Amendment No. 2 to Veralto Corporation’s Registration Statement on Form 10 filed August 31, 2023)*
10.15	Offer of Employment Letter, dated as of January 6, 2023, between Danaher Corporation and Melissa Aquino (incorporated by reference to Exhibit 10.9 to Amendment No. 2 to Veralto Corporation’s Registration Statement on Form 10 filed August 31, 2023)*
10.16	Employment Agreement, dated as of December 21, 2021, between VTI Sweden AB and Mattias Byström (incorporated by reference to Exhibit 10.10 to Amendment No. 2 to Veralto Corporation’s Registration Statement on Form 10 filed August 31, 2023)*
10.17	Amendment to Employment Agreement, dated as of May 5, 2023, between VTI Sweden AB and Mattias Byström (incorporated by reference to Exhibit 10.11 to Amendment No. 2 to Veralto Corporation’s Registration Statement on Form 10 filed August 31, 2023)*
10.18	Offer of Employment Letter, dated as of February 27, 2023, between Danaher Corporation and Surekha Trivedi (incorporated by reference to Exhibit 10.12 to Amendment No. 2 to Veralto Corporation’s Registration Statement on Form 10 filed August 31, 2023)*

10.33	Offer of Employment Letter, dated as of March 9, 2023 between Danaher Corporation and Lesley Benetau
19.1	Veralto Corporation Insider Trading Policy (incorporated by reference to Exhibit 19.1 to Veralto Corporation’s Annual Report on Form 10-K filed February 25, 2025).
21.1	Subsidiaries of Registrant
23.1	Consent of Independent Registered Public Accounting Firm
31.1	Certification of Chief Executive Officer Pursuant to Item 601(b)(31) of Regulation S-K, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2	Certification of Chief Financial Officer Pursuant to Item 601(b)(31) of Regulation S-K, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1	Certification of Chief Executive Officer, Pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
32.2	Certification of Chief Financial Officer, Pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

Name, Title and Signature	Date
/s/ LINDA FILLER	February 20, 2026
Linda Filler
Chair of the Board
/s/ JENNIFER L. HONEYCUTT	February 20, 2026
Jennifer L. Honeycutt
President, Chief Executive Officer and Director
/s/ SAMEER RALHAN	February 20, 2026

/s/ WALTER G. LOHR, JR.	February 20, 2026
Walter G. Lohr, Jr.
Director
/s/ HEATH A. MITTS	February 20, 2026
Heath A. Mitts
Director
/s/ VIJAY SANKARAN	February 20, 2026
Vijay Sankaran

Classification	Balance at Beginning of Period (a)	Charged to Costs & Expenses		Impact of Currency		Write-Offs, Write-Downs & Deductions	Balance at End of Period (a)
Year ended December 31, 2025:
Allowances deducted from asset account
Allowance for credit losses	$39		6		1			(8)	$38
Year ended December 31, 2024:
Allowances deducted from asset account
Allowance for credit losses	$37		9		(1)			(6)	$39
Year ended December 31, 2023: