Fortive (FTV) 10-Q28 Jul 222022 Q2 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	6 Months Ended
Cover Page - shares	Jul. 01, 2022	Jul. 25, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jul. 01, 2022
Document Transition Report	false
Entity File Number	1-37654
Entity Registrant Name	Fortive Corporation
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	47-5654583
Entity Address, Address Line One	6920 Seaway Blvd
Entity Address, City or Town	Everett,
Entity Address, State or Province	WA
Entity Address, Postal Zip Code	98203
City Area Code	425
Local Phone Number	446-5000
Title of 12(b) Security	Common stock, par value $0.01 per share
Trading Symbol	FTV
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		355,697,032
Amendment flag	false
Document fiscal year focus	2022
Document fiscal period focus	Q2
Entity central index key	0001659166
Current fiscal year end date	--12-31

Consolidated Condensed Balance

Consolidated Condensed Balance Sheets - USD ($) $ in Millions	Jul. 01, 2022	Dec. 31, 2021
Current assets:
Cash and equivalents	$ 682.9	$ 819.3
Trade accounts receivable, net	940.9	930.2
Inventories:
Finished goods	224.8	215.4
Work in process	104	94
Raw materials	218.9	203.3
Inventories	547.7	512.7
Prepaid expenses and other current assets	273.8	252.7
Total current assets	2,445.3	2,514.9
Property, plant and equipment, net of accumulated depreciation of $733.1 and $679.0 at July 1, 2022 and December 31, 2021, respectively	407.6	395.5
Other assets	481.3	512.9
Goodwill	9,058.2	9,152
Other intangible assets, net	3,678.5	3,890.2
Total assets	16,070.9	16,465.5
Current liabilities:
Current portion of long-term debt	999.9	2,151.7
Trade accounts payable	581.7	557.9
Accrued expenses and other current liabilities	1,029.7	1,005.3
Total current liabilities	2,611.3	3,714.9
Other long-term liabilities	1,328	1,426.3
Long-term debt	2,682.2	1,807.3
Commitments and Contingencies
Equity:
Preferred stock: $0.01 par value, 15.0 million shares authorized and no shares issued or outstanding at July 1, 2022 and December 31, 2021	0	0
Common stock: $0.01 par value, 2.0 billion shares authorized; 361.2 and 360.4 million issued; 355.6 and 359.1 million outstanding at July 1, 2022 and December 31, 2021, respectively	3.6	3.6
Additional paid-in capital	3,651.2	3,670
Treasury shares, at cost	(242.9)	0
Retained earnings	6,374.5	6,023.6
Accumulated other comprehensive loss	(342.1)	(185)
Total Fortive stockholders’ equity	9,444.3	9,512.2
Noncontrolling interests	5.1	4.8
Total stockholders’ equity	9,449.4	9,517
Total liabilities and equity	$ 16,070.9	$ 16,465.5

Consolidated Condensed Balanc_2

Consolidated Condensed Balance Sheets (Parenthetical) - USD ($) $ in Millions	Jul. 01, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Accumulated depreciation	$ 733.1	$ 679
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	15,000,000	15,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	2,000,000,000	2,000,000,000
Common stock, shares issued (in shares)	361,200,000	360,400,000
Common stock, shares outstanding (in shares)	355,600,000	359,100,000

Consolidated Condensed Statemen

Consolidated Condensed Statements of Earnings - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jul. 01, 2022	Jul. 02, 2021	Jul. 01, 2022	Jul. 02, 2021
Total sales	$ 1,463.3	$ 1,319.7	$ 2,839.8	$ 2,578.9
Total cost of sales	(629.8)	(564.2)	(1,214.3)	(1,111.5)
Gross profit	833.5	755.5	1,625.5	1,467.4
Operating costs:
Selling, general and administrative expenses	(484.9)	(456.4)	(965.5)	(884.5)
Research and development expenses	(100.1)	(87.8)	(199.2)	(174)
Russia exit and wind down costs	(16.2)	0	(16.2)	0
Operating profit	232.3	211.3	444.6	408.9
Non-operating income (expense), net:
Interest expense, net	(21)	(25.2)	(39.8)	(52.9)
Loss on extinguishment of debt	0	0	0	(104.9)
Gain on investment in Vontier Corporation	0	0	0	57
Gain on litigation resolution	0	26	0	26
Other non-operating expense, net	(3.1)	(4.6)	(5.8)	(7.9)
Earnings from continuing operations before income taxes	208.2	207.5	399	326.2
Income taxes	(35.2)	(25.5)	(60.9)	(32.5)
Net earnings from continuing operations	173	182	338.1	293.7
Earnings (loss) from discontinued operations, net of income taxes	0	(1.1)	0	(2.6)
Net earnings	173	180.9	338.1	291.1
Mandatory convertible preferred dividends	0	(17.2)	0	(34.5)
Net earnings attributable to common stockholders	$ 173	$ 163.7	$ 338.1	$ 256.6
Net earnings per common share from continuing operations:
Basic (in dollars per share)	$ 0.48	$ 0.49	$ 0.94	$ 0.76
Diluted (in dollars per share)	0.48	0.48	0.93	0.76
Net earnings (loss) per share from discontinued operations:
Basic (in dollars per share)	0	0	0	(0.01)
Diluted (in dollars per share)	0	0	0	(0.01)
Net earnings per share:
Basic (in dollars per share)	0.48	0.48	0.94	0.76
Diluted (in dollars per share)	$ 0.48	$ 0.48	$ 0.93	$ 0.75
Average common stock and common equivalent shares outstanding:
Basic (in shares)	357.4	339.4	358.3	339
Diluted (in shares)	359.8	342.4	364.2	342.1
Sales of products and software
Total sales	$ 1,229.4	$ 1,136	$ 2,382.1	$ 2,213.2
Total cost of sales	(508.3)	(464)	(973.4)	(908.3)
Sales of services
Total sales	233.9	183.7	457.7	365.7
Total cost of sales	$ (121.5)	$ (100.2)	$ (240.9)	$ (203.2)

Consolidated Condensed Statem_2

Consolidated Condensed Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 01, 2022	Jul. 02, 2021	Jul. 01, 2022	Jul. 02, 2021
Statement of Comprehensive Income [Abstract]
Net earnings	$ 173	$ 180.9	$ 338.1	$ 291.1
Other comprehensive income (loss), net of income taxes:
Foreign currency translation adjustments	(118.6)	16.6	(158)	(18.1)
Pension adjustments	0.4	0.9	0.9	1.9
Total other comprehensive income (loss), net of income taxes	(118.2)	17.5	(157.1)	(16.2)
Comprehensive income	$ 54.8	$ 198.4	$ 181	$ 274.9

Consolidated Condensed Statem_3

Consolidated Condensed Statements of Changes in Equity - USD ($) shares in Millions, $ in Millions	Total	Common Stock	Common Stock Cumulative Effect, Period of Adoption, Adjusted Balance	Preferred Stock	Preferred Stock Cumulative Effect, Period of Adoption, Adjusted Balance	Treasury Stock	Treasury Stock Cumulative Effect, Period of Adoption, Adjusted Balance	Additional Paid-In Capital	Additional Paid-In Capital Cumulative Effect, Period of Adoption, Adjustment	Additional Paid-In Capital Cumulative Effect, Period of Adoption, Adjusted Balance	Retained Earnings	Retained Earnings Cumulative Effect, Period of Adoption, Adjustment	Retained Earnings Cumulative Effect, Period of Adoption, Adjusted Balance	Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) Cumulative Effect, Period of Adoption, Adjusted Balance	Noncontrolling Interests	Noncontrolling Interests Cumulative Effect, Period of Adoption, Adjusted Balance
Beginning balance (in shares) at Dec. 31, 2020		339		1.4
Beginning balance at Dec. 31, 2020		$ 3.4		$ 0		$ 0		$ 3,554.5			$ 5,547.4			$ (141.1)		$ 8.5
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings for the period											110.2
Dividends to common shareholders	$ (23.7)										(23.7)
Mandatory convertible preferred stock cumulative dividends	(17.3)										(17.3)
Other comprehensive income (loss)														(33.7)
Common stock-based award activity (in shares)		(0.4)
Common stock-based award activity								34.1
Shares withheld for taxes (in shares)		(0.1)
Shares withheld for taxes								(13.2)
Early extinguishment of 0.875% convertible senior notes due 2022								(11.6)
Change in noncontrolling interest																(0.8)
Ending balance (in shares) at Apr. 02, 2021		338.5		1.4
Ending balance at Apr. 02, 2021		$ 3.4		$ 0		0		3,563.8			5,616.6			(174.8)		7.7
Beginning balance (in shares) at Dec. 31, 2020		339		1.4
Beginning balance at Dec. 31, 2020		$ 3.4		$ 0		0		3,554.5			5,547.4			(141.1)		8.5
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings for the period	291.1
Dividends to common shareholders	(47.4)
Mandatory convertible preferred stock cumulative dividends	(34.5)
Other comprehensive income (loss)	(16.2)
Ending balance (in shares) at Jul. 02, 2021		358.4		0
Ending balance at Jul. 02, 2021		$ 3.6		$ 0		0		3,602.1			5,756.6			(157.3)		4.7
Beginning balance (in shares) at Dec. 31, 2020		339		1.4
Beginning balance at Dec. 31, 2020		$ 3.4		$ 0		0		3,554.5			5,547.4			(141.1)		8.5
Ending balance (in shares) at Dec. 31, 2021		359.1	359.1	0	0
Ending balance at Dec. 31, 2021	$ 9,517	$ 3.6	$ 3.6	$ 0	$ 0	0	$ 0	3,670	$ (65.7)	$ 3,604.3	6,023.6	$ 62.8	$ 6,086.4	(185)	$ (185)	4.8	$ 4.8
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting Standards Update [Extensible List]	Accounting Standards Update 2020-06 [Member]
Beginning balance (in shares) at Apr. 02, 2021		338.5		1.4
Beginning balance at Apr. 02, 2021		$ 3.4		$ 0		0		3,563.8			5,616.6			(174.8)		7.7
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings for the period	$ 180.9										180.9
Dividends to common shareholders	(23.7)										(23.7)
Mandatory convertible preferred stock cumulative dividends	(17.2)										(17.2)
Other comprehensive income (loss)	17.5													17.5
Common stock-based award activity (in shares)		0.6
Common stock-based award activity								35.9
Shares withheld for taxes (in shares)		(0.1)
Shares withheld for taxes								(0.6)
Conversion of Mandatory convertible preferred stock to common stock (in shares)		19.4		(1.4)
Conversion of Mandatory convertible preferred stock to common stock		$ 0.2
Change in noncontrolling interest								3								(3)
Ending balance (in shares) at Jul. 02, 2021		358.4		0
Ending balance at Jul. 02, 2021		$ 3.6		$ 0		0		3,602.1			5,756.6			(157.3)		4.7
Beginning balance (in shares) at Dec. 31, 2021		359.1	359.1	0	0
Beginning balance at Dec. 31, 2021	9,517	$ 3.6	$ 3.6	$ 0	$ 0	0	0	3,670	(65.7)	3,604.3	6,023.6	62.8	6,086.4	(185)	(185)	4.8	4.8
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings for the period											165.1
Dividends to common shareholders	(25.1)										(25.1)
Mandatory convertible preferred stock cumulative dividends	0
Other comprehensive income (loss)														(38.9)
Common stock-based award activity (in shares)		0.5
Common stock-based award activity								23.8
Common stock repurchases (in shares)		(1)
Common stock repurchases						(63.8)
Shares withheld for taxes (in shares)		(0.2)
Shares withheld for taxes								(9)
Change in noncontrolling interest																0.5
Ending balance (in shares) at Apr. 01, 2022		358.4		0
Ending balance at Apr. 01, 2022		$ 3.6		$ 0		(63.8)		3,619.1			6,226.4			(223.9)		5.3
Beginning balance (in shares) at Dec. 31, 2021		359.1	359.1	0	0
Beginning balance at Dec. 31, 2021	9,517	$ 3.6	$ 3.6	$ 0	$ 0	0	$ 0	3,670	$ (65.7)	$ 3,604.3	6,023.6	$ 62.8	$ 6,086.4	(185)	$ (185)	4.8	$ 4.8
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings for the period	338.1
Dividends to common shareholders	(50)
Mandatory convertible preferred stock cumulative dividends	0
Other comprehensive income (loss)	(157.1)
Ending balance (in shares) at Jul. 01, 2022		355.6		0
Ending balance at Jul. 01, 2022	9,449.4	$ 3.6		$ 0		(242.9)		3,651.2			6,374.5			(342.1)		5.1
Beginning balance (in shares) at Apr. 01, 2022		358.4		0
Beginning balance at Apr. 01, 2022		$ 3.6		$ 0		(63.8)		3,619.1			6,226.4			(223.9)		5.3
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings for the period	173										173
Dividends to common shareholders	(24.9)										(24.9)
Mandatory convertible preferred stock cumulative dividends	0
Other comprehensive income (loss)	(118.2)													(118.2)
Common stock-based award activity (in shares)		0.2		(179.1)
Common stock-based award activity								32.7
Common stock repurchases (in shares)		(3)
Shares withheld for taxes								(0.6)
Change in noncontrolling interest																(0.2)
Ending balance (in shares) at Jul. 01, 2022		355.6		0
Ending balance at Jul. 01, 2022	$ 9,449.4	$ 3.6		$ 0		$ (242.9)		$ 3,651.2			$ 6,374.5			$ (342.1)		$ 5.1

Consolidated Condensed Statem_4

Consolidated Condensed Statements of Changes in Equity (Parenthetical)	Jul. 01, 2022	Jan. 01, 2022	Jul. 02, 2021	Apr. 02, 2021	Feb. 22, 2019
0.875% senior convertible notes due 2022 \| Convertible Debt
Interest rate, stated percentage	0.875%	0.875%	0.875%	0.875%	0.875%

Consolidated Condensed Statem_5

Consolidated Condensed Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jul. 01, 2022	Jul. 02, 2021
Cash flows from operating activities:
Net earnings from continuing operations	$ 338.1	$ 293.7
Noncash items:
Amortization	192.1	155
Depreciation	41.9	37.7
Stock-based compensation expense	45	36.8
Loss on extinguishment of debt	0	104.2
Gain on investment in Vontier Corporation	0	(57)
Gain on litigation resolution	0	(26)
Russia exit and wind down costs	9.2	0
Change in trade accounts receivable, net	(37.7)	(11.8)
Change in inventories	(50.7)	(24)
Change in trade accounts payable	40.1	9.1
Change in prepaid expenses and other assets	(39.2)	(21.4)
Change in accrued expenses and other liabilities	(29.6)	(53.3)
Total operating cash provided by continuing operations	509.2	443
Total operating cash used in discontinued operations	0	(18.7)
Net cash provided by operating activities	509.2	424.3
Cash flows from investing activities:
Cash paid for acquisitions, net of cash received	(1.6)	0.9
Payments for additions to property, plant and equipment	(37.1)	(17.1)
All other investing activities	0	1.1
Net cash used in investing activities	(38.7)	(15.1)
Cash flows from financing activities:
Payment of 0.875% convertible senior notes due 2022	(1,156.5)	0
Net proceeds from commercial paper borrowings	481.3	0
Proceeds from borrowings (maturities greater than 90 days), net of issuance costs of $0.6 million in 2022	397	0
Repayment of borrowings (maturities greater than 90 days)	0	(611.1)
Payment of common stock cash dividend to shareholders	(50)	(47.4)
Payment of mandatory convertible preferred stock cash dividend to shareholders	0	(34.5)
Repurchase of common shares	(242.9)	0
All other financing activities	(11.8)	25.2
Net cash used in financing activities	(582.9)	(667.8)
Effect of exchange rate changes on cash and equivalents	(24)	(0.4)
Net change in cash and equivalents	(136.4)	(259)
Beginning balance of cash and equivalents	819.3	1,824.8
Ending balance of cash and equivalents	$ 682.9	$ 1,565.8

Consolidated Condensed Statem_6

Consolidated Condensed Statements of Cash Flows (Parenthetical) $ in Millions	6 Months Ended
	Jul. 01, 2022 USD ($)
Payments of debt issuance costs	$ 0.6
0.875% senior convertible notes due 2022 \| Convertible Debt
Interest rate, stated percentage	0.875%

Business Overview

Business Overview	6 Months Ended
Business Overview	Jul. 01, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business Overview	NOTE 1. BUSINESS OVERVIEW Fortive Corporation (“Fortive,” “the Company,” “we,” “us,” or “our”) is a provider of essential technologies for connected workflow solutions across a range of attractive end-markets. Our strategic segments - Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions - include well-known brands with leading positions in their markets. Our businesses design, develop, manufacture, and service professional and engineered products, software, and services, building upon leading brand names, innovative technologies, and significant market positions. Our research and development, manufacturing, sales, distribution, service, and administrative facilities are located in more than 50 countries around the world. We prepared the unaudited consolidated condensed financial statements included herein in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and the rules and regulations of the U.S. Securities and Exchange Commission (the “SEC”) applicable for interim periods. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been omitted pursuant to such rules and regulations; however, we believe the disclosures are adequate to make the information presented not misleading. The consolidated condensed financial statements included herein should be read in conjunction with the audited annual consolidated financial statements as of and for the year ended December 31, 2021 and the footnotes (“Notes”) thereto included within our 2021 Annual Report on Form 10-K. In our opinion, the accompanying financial statements contain all adjustments (consisting of only normal recurring accruals) necessary to fairly present our financial position as of July 1, 2022 and December 31, 2021, our results of operations for the three and six month periods ended July 1, 2022 and July 2, 2021, and cash flows for the six month periods ended July 1, 2022 and July 2, 2021. Reclassification of certain prior year amounts have been made to conform to current year presentation. Vontier Separation and Discontinued Operations On October 9, 2020, we completed the separation of Vontier Corporation (“Vontier”), the entity we created to hold our former Industrial Technologies segment (the “Separation”). The accounting requirements for reporting the Vontier business as a discontinued operation were met when the Separation was completed. Accordingly, the consolidated condensed financial statements reflect the results of separation activities associated with the prior Vontier business as a discontinued operation, which was immaterial for all periods presented. On January 19, 2021, we completed an exchange (the “Debt-for-Equity Exchange”) of 33.5 million shares of common stock of Vontier, representing all of the Retained Vontier Shares, for $1.1 billion in aggregate principal amount of indebtedness of the Company held by Goldman Sachs & Co. Interest expense and extinguishment costs related to the Debt-for-Equity Exchange during the first quarter of 2021 are included in continuing operations. Russia Ukraine Conflict In February 2022, Russian forces invaded Ukraine (“Russia Ukraine Conflict”) resulting in broad economic sanctions being imposed on Russia. In the second quarter of 2022, the Company exited business operations in Russia, other than for ASP’s sterilization products, which are exempt from international sanctions as humanitarian products. Our business in Russia and Ukraine accounted for less than 1% of total revenue and less than 0.2% of total assets for the fiscal year ended December 31, 2021. In the three and six month periods ended July 1, 2022, the Company recorded a pre-tax charge totaling $16.2 million primarily relating to the write-off of net assets, the write-off of the cumulative translation adjustment in earnings for legal entities deemed substantially liquidated, and to record provisions for employee severance and legal contingencies. These costs are identified as the “Russia exit and wind down costs” in the Condensed Consolidated Statements of Earnings. The total costs expected to be incurred in connection with the Russia exit are $18.4 million. Accumulated Other Comprehensive Income (Loss) Foreign currency translation adjustments are generally not adjusted for income taxes as they relate to indefinite investments in non-U.S. subsidiaries. During the three and six month periods ended July 1, 2022, we designated our ¥14.4 billion Yen-denominated variable interest rate term loan and our €275 million Euro-denominated variable interest rate term loan outstanding as net investment hedges of our investment in certain foreign operations. During the three and six month periods ended July 1, 2022, we recognized after-tax foreign currency transaction gains of $3.6 million on the debt that were deferred in the foreign currency translation component of Accumulated other comprehensive income (loss) (“AOCI”) as an offset to the foreign currency translation adjustments on our investments in foreign subsidiaries. Any amounts deferred in AOCI will remain until the hedged investment is sold or substantially liquidated. We recorded no ineffectiveness from our net investment hedges during the three and six month periods ended July 1, 2022. The changes in AOCI by component are summarized below ($ in millions): Foreign Pension adjustments (a) Total For the Three Months Ended July 1, 2022: Balance, April 1, 2022 $ (162.1) $ (61.8) $ (223.9) Other comprehensive income (loss) before reclassifications, net of income taxes (121.3) — (121.3) Amounts reclassified from accumulated other comprehensive income (loss): Increase (decrease) 2.7 0.5 (b) 3.2 Income tax impact — (0.1) (0.1) Amounts reclassified from accumulated other comprehensive income (loss), net of income taxes 2.7 0.4 3.1 Net current period other comprehensive income (loss), net of income taxes (118.6) 0.4 (118.2) Balance, July 1, 2022 $ (280.7) $ (61.4) $ (342.1) For the Three Months Ended July 2, 2021: Balance, April 2, 2021 $ (88.7) $ (86.1) $ (174.8) Other comprehensive income (loss) before reclassifications, net of income taxes 16.6 — 16.6 Amounts reclassified from accumulated other comprehensive income (loss): Increase (decrease) — 1.2 (b) 1.2 Income tax impact — (0.3) (0.3) Amounts reclassified from accumulated other comprehensive income (loss), net of income taxes — 0.9 0.9 Net current period other comprehensive income (loss), net of income taxes 16.6 0.9 17.5 Balance, July 2, 2021 $ (72.1) $ (85.2) $ (157.3) Foreign Pension adjustments (a) Total For the Six Months Ended July 1, 2022: Balance, December 31, 2021 $ (122.7) $ (62.3) $ (185.0) Other comprehensive income (loss) before reclassifications, net of income taxes (160.7) — (160.7) Amounts reclassified from accumulated other comprehensive income (loss): Increase (decrease) 2.7 1.1 (b) 3.8 Income tax impact — (0.2) (0.2) Amounts reclassified from accumulated other comprehensive income (loss), net of income taxes 2.7 0.9 3.6 Net current period other comprehensive income (loss) (158.0) 0.9 (157.1) Balance, July 1, 2022 $ (280.7) $ (61.4) $ (342.1) For the Six Months Ended July 2, 2021: Balance, December 31, 2020 $ (54.0) $ (87.1) $ (141.1) Other comprehensive income (loss) before reclassifications, net of income taxes (18.1) — (18.1) Amounts reclassified from accumulated other comprehensive income (loss): Increase (decrease) — 2.5 (b) 2.5 Income tax impact — (0.6) (0.6) Amounts reclassified from accumulated other comprehensive income (loss), net of income taxes — 1.9 1.9 Net current period other comprehensive income (loss) (18.1) 1.9 (16.2) Balance, July 2, 2021 $ (72.1) $ (85.2) $ (157.3) (a) Includes balances relating to defined benefit plans, supplemental executive retirement plans, and other postretirement employee benefit plans. (b) This component of AOCI is included in the computation of net periodic pension cost (refer to Note 12 in our most recently filed Form 10-K for additional details). Allowances for Doubtful Accounts All trade accounts and unbilled receivables are reported in the Consolidated Condensed Balance Sheet adjusted for any write-offs and net of allowances for credit losses. The allowances for credit losses represent management’s best estimate of the credit losses expected from our unbilled and trade accounts receivable portfolios over the life of the underlying assets. Additions to the allowances are charged to current period earnings, amounts determined to be uncollectible are charged directly against the allowances, while amounts recovered on previously written-off accounts increase the allowances. The following is a roll forward of the aggregated allowance for credit losses related to our trade accounts receivables as of July 1, 2022 ($ in millions): Balance, December 31, 2021 $ 39.7 Provision 4.2 Write-offs (5.4) Foreign currency exchange and other (0.6) Balance, July 1, 2022 $ 37.9 The allowance for unbilled receivables was immaterial for all periods presented. Recently Issued Accounting Standard In August 2020, the Financial Accounting Standards Board issued Accounting Standards Update No. 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity, which amends the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts in an entity’s own equity. On January 1, 2022, we adopted ASU 2020-06 using a modified retrospective approach and recognized in our balance sheet, as of January 1, 2022, a net of tax adjustment to reduce Additional Paid-in Capital by $65.7 million and increase debt by $3.7 million, with a corresponding net of tax adjustment to beginning retained earnings of $62.8 million. These adjustments are related to our 0.875% Convertible Senior Notes (the “Convertible Notes”), which were the only outstanding instruments impacted by the new standard at the time of adoption. Results for reporting periods beginning January 1, 2022 reflect the adoption of ASU 2020-06, while prior period amounts were not adjusted and continue to be reported in accordance with our historical accounting practices. Prior to our adoption of ASU 2020-06 on January 1, 2022, we recognized the fair value of the nonconvertible debt component of our Convertible Notes subject to the cash conversion guidance as debt and attributed the residual value to the conversion feature which was recognized in APIC. Subsequent to the issuance of our Convertible Notes in February 2019, we accreted the debt discount as non-cash interest expense in our Statements of Earnings. Further, we applied the treasury stock method to our Convertible Notes when calculating earnings per share (“EPS”) in all periods prior to our adoption of ASU 2020-06. After our adoption of ASU 2020-06, we account for convertible debt instruments wholly as debt, unless a convertible instrument contains features that require bifurcation as a derivative under ASC 815 or a convertible debt instrument is issued at a substantial premium. On January 1, 2022, we reclassified the unamortized cost basis of our outstanding Convertible Notes wholly as debt, which subsequently matured and was settled on February 15, 2022. We applied the if-converted method to all convertible instruments when calculating EPS for the six months ended July 1, 2022. As of July 1, 2022, we had no convertible instruments outstanding subject to the guidance in ASU 2020-06.

Acquisitions

Acquisitions	6 Months Ended
Acquisitions	Jul. 01, 2022
Business Combination and Asset Acquisition [Abstract]
Acquisitions	NOTE 2. ACQUISITIONS We continually evaluate potential mergers, acquisitions, and divestitures that align with our strategy and expedite the evolution of our portfolio of businesses into new and attractive areas. We have completed a number of acquisitions that have been accounted for as purchases of businesses and resulted in the recognition of goodwill in our financial statements. This goodwill arises because the purchase price for each acquired business reflects a number of factors, including the complementary fit, acceleration of our strategy and synergies the business brings with respect to our existing operations, the future earnings and cash flow potential of the business, the potential to add other strategically complementary acquisitions to the acquired business, the scarce or unique nature of the business in its markets, competition to acquire the business, the valuation of similar businesses in the marketplace (as reflected in a multiple of revenues, earnings, or cash flows), and the avoidance of the time and costs which would be required (and the associated risks that would be encountered) to enhance our existing offerings to key target markets and develop new and profitable businesses. During the three and six month periods ended July 1, 2022, insignificant adjustments were made to the purchase price allocation of prior year acquisitions, which are shown in Note 3. Provation On December 27, 2021, we acquired Provation Software, Inc. (“Provation”), a leading provider of clinical workflow software solutions used in hospitals and ambulatory surgery centers. The acquisition of Provation extends our digital offering and software capabilities in the healthcare space. The total consideration paid was approximately $1.4 billion, net of acquired cash and was primarily financed with proceeds from our financing activities and available cash. We recorded $978 million of goodwill related to the acquisition, which is not tax deductible. Provation had revenue in 2020 of approximately $90 million and is an operating company within our Advanced Healthcare Solutions segment. ServiceChannel On August 24, 2021, we acquired ServiceChannel Holdings, Inc. (“ServiceChannel”), a privately held, global provider of Software as a Service (“SaaS”) based multi-site facilities maintenance service solutions with an integrated service-provider network. The acquisition of ServiceChannel broadens our offering of software-enabled solutions for the facility and asset lifecycle workflow. The total consideration paid was approximately $1.2 billion, net of acquired cash, and included approximately $28 million of deferred compensation consideration that is being recognized ratably over a twelve month service period. The ServiceChannel acquisition was primarily financed with available cash and proceeds from our financing activities. We recorded approximately $874 million of goodwill related to the acquisition, which is not tax deductible. ServiceChannel had revenue in 2020 of approximately $70 million and is an operating company within our Intelligent Operating Solutions segment. For the six months ended July 1, 2022, revenue and operating losses attributable to the Provation and ServiceChannel acquisitions were $132.8 million and $21.7 million, respectively. The operating losses include $38.7 million of intangible asset amortization and $12.9 million of transaction and integration costs, which were primarily comprised of employee compensation and retention costs and amounts paid to third party advisors, and are recorded in Selling, general and administration expenses. The following table summarizes the estimated fair value of the assets acquired and liabilities assumed from ServiceChannel and Provation as of July 1, 2022 ($ in millions): Provation ServiceChannel Total Accounts receivable $ 41.3 $ 10.1 $ 51.4 Goodwill 978.0 874.2 1,852.2 Other intangible assets, primarily customer relationships, technology, database, and trade names 586.5 342.9 929.4 Deferred revenue, current (50.3) (1.7) (52.0) Deferred tax liabilities (119.4) (50.8) (170.2) Other assets and liabilities, net (30.5) (8.4) (38.9) Net cash consideration $ 1,405.6 $ 1,166.3 $ 2,571.9

Goodwill

Goodwill	6 Months Ended
Goodwill	Jul. 01, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	NOTE 3. GOODWILL The following is a roll forward of our carrying value of goodwill by segment ($ in millions): Intelligent Operating Solutions Precision Technologies Advanced Healthcare Solutions Total Goodwill Balance, December 31, 2021 $ 4,126.0 $ 1,840.0 $ 3,186.0 $ 9,152.0 Measurement period adjustments for 2021 acquisitions 0.8 — 9.6 10.4 Foreign currency translation and other (44.3) (37.3) (22.6) (104.2) Balance, July 1, 2022 $ 4,082.5 $ 1,802.7 $ 3,173.0 $ 9,058.2

Fair Value Measurements

Fair Value Measurements	6 Months Ended
Fair Value Measurements	Jul. 01, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	NOTE 4. FAIR VALUE MEASUREMENTS Accounting standards define fair value based on an exit price model, establish a framework for measuring fair value where our assets and liabilities are required to be carried at fair value, and provide for certain disclosures related to the valuation methods used within a valuation hierarchy as established within the accounting standards. This hierarchy prioritizes the inputs into three broad levels as follows: • Level 1 inputs are quoted prices (unadjusted) for identical assets or liabilities in active markets. • Level 2 inputs are quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets in markets that are not active, or other observable characteristics for the asset or liability, including interest rates, yield curves and credit risks, or inputs that are derived principally from, or corroborated by, observable market data through correlation. • Level 3 inputs are unobservable inputs based on our assumptions. The classification of a financial asset or liability within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Below is a summary of financial liabilities that are measured at fair value on a recurring basis ($ in millions): Quoted Prices Significant Other Significant Total July 1, 2022 Deferred compensation liabilities $ — $ 31.4 $ — $ 31.4 December 31, 2021 Deferred compensation liabilities — 36.0 — 36.0 Certain management employees participate in our nonqualified deferred compensation programs that permit such employees to defer a portion of their compensation, on a pretax basis, until after their termination of employment. All amounts deferred under such plans are unfunded, unsecured obligations and are presented as a component of our compensation and benefits accrual included in Other long-term liabilities in the Consolidated Condensed Balance Sheets. Participants may choose among alternative earnings rates for the amounts they defer, which are primarily based on investment options within our defined contribution plans for the benefit of U.S. employees (except that the earnings rates for amounts contributed unilaterally by the Company are entirely based on changes in the value of Fortive common stock). Changes in the deferred compensation liability under these programs are recognized based on changes in the fair value of the participants’ accounts, which are based on the applicable earnings rates. Nonrecurring Fair Value Measurements Certain non-financial assets, primarily property, plant, and equipment, goodwill, and intangible assets, are not required to be measured at fair value on a recurring basis and are reported at their carrying value. However, these assets are required to be assessed for impairment whenever events or circumstances indicate that their carrying value may not be fully recoverable, and at least annually for goodwill and indefinite-lived intangible assets. We evaluated events or circumstances that may indicate the carrying value of our non-financial assets may not be fully recoverable during the six month period ended July 1, 2022, and recorded no impairments. Fair Value of Financial Instruments The carrying amount and fair value of financial instruments are as follows ($ in millions): July 1, 2022 December 31, 2021 Carrying Amount Fair Value Carrying Amount Fair Value Current portion of long-term debt $ 999.9 $ 1,000.0 $ 2,151.7 $ 2,158.3 Long-term debt, net of current maturities $ 2,682.2 $ 2,584.8 $ 1,807.3 $ 1,978.9 As of July 1, 2022 and December 31, 2021, the current portion of long-term debt and long-term debt, net of current maturities were categorized as Level 1. The fair values of long-term borrowings were based on quoted market prices. The difference between the fair value and the carrying amounts of long-term borrowings may be attributable to changes in market interest rates and/or our credit ratings subsequent to the borrowing. The fair value of cash and cash equivalents, trade accounts receivable, net, trade accounts payable, and commercial paper approximates their carrying value due to the short-term maturities of these instruments.

Financing and Capital

Financing and Capital	6 Months Ended
Financing and Capital	Jul. 01, 2022
Debt Disclosure [Abstract]
Financing and Capital	NOTE 5. FINANCING AND CAPITAL The carrying value of the components of our long-term debt were as follows ($ in millions): July 1, 2022 December 31, 2021 U.S. dollar-denominated commercial paper $ 847.0 $ 364.9 Delayed-Draw Term Loan due 2022 999.9 999.7 Yen Term Loan due 2025 106.4 — Euro Term Loan due 2025 285.8 — 3.15% senior unsecured notes due 2026 895.7 895.1 4.30% senior unsecured notes due 2046 547.3 547.3 0.875% senior convertible notes due 2022 — 1,152.0 Long-term debt 3,682.1 3,959.0 Less: current portion of long-term debt 999.9 2,151.7 Long-term debt, net of current maturities $ 2,682.2 $ 1,807.3 Aggregate unamortized debt discounts, premiums, and issuance costs of $8 million and $13 million as of July 1, 2022 and December 31, 2021, respectively, are netted against the principal amounts of the components of debt in the table above. Refer to Note 11 of our 2021 Annual Report on Form 10-K for further details of our debt financing. Yen Term Loan On June 17, 2022, we entered into a three-year, ¥14.4 billion senior unsecured term facility (“Yen Term Loan”). On the same day, we drew down the entire available balance under the facility, which yielded net proceeds of $107 million. The Yen Term Loan is due on June 17, 2025 and is pre-payable at our option. The Yen Term Loan bears interest at a rate of Tokyo Term Risk Free Rate (“TORF”), plus 65 basis points; provided, however, that the TOFR may not be less than zero for the Yen Term Loan. Euro Term Loan On June 21, 2022, we entered into a three-year €275 million senior unsecured term facility (“Euro Term Loan”). On June 28, 2022, we drew down the entire available balance under the facility, which yielded net proceeds of $290 million. The Euro Term Loan is due on June 23, 2025 and is pre-payable at our option. The Euro Term Loan bears interest at a rate of Euro Interbank Offered Rate (“Euribor”), plus 55 basis points; provided, however that the Euribor may not be less than zero for the Euro Term Loan. Convertible Senior Notes On February 22, 2019, we issued $1.4 billion in aggregate principal amount of our 0.875% Convertible Senior Notes due 2022, including $187.5 million in aggregate principal amount resulting from an exercise in full of an over-allotment option. The Convertible Notes were issued in a private placement to certain initial purchasers for resale to qualified institutional buyers pursuant to Rule 144A under the Securities Act. Of the $1.4 billion in principal amount from the issuance of the Convertible Notes, $1.3 billion was classified as debt and $102.2 million was classified as equity, using an assumed effective interest rate of 3.38%. Debt issuance costs of $24.3 million were proportionately allocated to debt and equity. On February 9, 2021, we repurchased $281 million of the Convertible Notes at fair value using the remaining cash proceeds received from Vontier in the Vontier Separation and other cash on hand. In connection with the repurchase, we recorded a loss on debt extinguishment during the six month period ended July 2, 2021 of $10.5 million. In addition, upon repurchase we recorded $11.6 million as a reduction to additional paid-in capital related to the equity component of the repurchased Convertible Notes. On January 1, 2022, we adopted ASU 2020-06, as further detailed in Note 1. We reclassified the carrying value of the instrument wholly to debt, eliminating the value formerly attributable to the conversion feature and the associated debt issuance costs that were previously classified as equity. On February 15, 2022, the maturity date of the Convertible Notes, Fortive repaid, in cash, $1.2 billion in outstanding principal and accrued interest thereon. We recognized $2.1 million in interest expense during the six month period ended July 1, 2022, of which $1.3 million was related to the contractual coupon rate of 0.875% and $0.8 million was attributable to the amortization of debt issuance costs. We recognized $11.1 million and $23.3 million in interest expense during the three and six month period ended July 2, 2021, of which $2.5 million and $5.3 million was related to the contractual coupon rate of 0.875%, $1.5 million and $3.2 million was attributable to the amortization of debt issuance costs, and $7.1 million and $14.8 million was attributable to the amortization of the discount for each respective period. Other Liquidity Sources We generally satisfy any short-term liquidity needs that are not met through operating cash flows and available cash primarily through issuances of commercial paper under our U.S. dollar and Euro-denominated commercial paper programs (“Commercial Paper Programs”). Under these programs, we may issue unsecured promissory notes with maturities not exceeding 397 and 183 days, respectively. Interest expense on commercial paper is paid at maturity and is generally based on our credit ratings at the time of issuance and prevailing short-term interest rates. The details of our outstanding Commercial Paper Programs as of July 1, 2022 were as follows ($ in millions): Carrying value Annual effective rate Weighted average remaining maturity (in days) U.S. dollar-denominated commercial paper $ 847.0 1.84 % 32 Credit support for the Commercial Paper Programs is provided by a five-year $2.0 billion senior unsecured revolving credit facility that expires on November 30, 2023 (the “Revolving Credit Facility”) which, to the extent not otherwise providing credit support for our commercial paper programs, can also be used for working capital and other general corporate purposes. As of July 1, 2022, no borrowings were outstanding under the Revolving Credit Facility. We classified our borrowings outstanding under the Commercial Paper Programs as Long-term debt in the accompanying Consolidated Condensed Balance Sheets as we had the intent and ability, as supported by availability under the Revolving Credit Facility, to refinance these borrowings for at least one year from the balance sheet date. Debt-for-Equity Exchange On January 19, 2021, we completed the Debt-for-Equity Exchange of 33.5 million shares of common stock of Vontier, representing all of the Retained Vontier Shares, for $1.1 billion in aggregate principal amount of indebtedness of the Company. During the first quarter of 2021 we recognized a gain of $57.0 million related to the subsequent change in the fair value of the Retained Vontier Shares. We recorded a loss on extinguishment of the debt included in the Debt-for-Equity Exchange of $94.4 million in the six month period ended July 2, 2021.

Sales

Sales	6 Months Ended
Sales	Jul. 01, 2022
Revenue from Contract with Customer [Abstract]
Sales	NOTE 6. SALES We derive revenue primarily from the sale of products and software, and services. Revenue is recognized when control of promised products or services is transferred to customers in an amount that reflects the consideration we expect to be entitled to in exchange for those products, software, or services. Product sales include revenue from the sale of products and equipment, which includes our software and SaaS product offerings and equipment rentals. Service sales include revenues from extended warranties, post-contract customer support (“PCS”), maintenance contracts or services, contract labor to perform ongoing service at a customer location, and services related to previously sold products. Contract Assets — In certain circumstances, we record contract assets which include unbilled amounts typically resulting from sales under contracts when revenue recognized exceeds the amount billed to the customer, and right to payment is not only subject to the passage of time. Contract assets were $83 million as of July 1, 2022 and $71 million as of December 31, 2021. Contract Costs — We incur and capitalize direct incremental costs to obtain certain contracts, typically sales-related commissions and costs associated with assets used by our customers in certain software arrangements. Deferred sales-related commissions are not capitalized when the amortization period is one year or less, as we elected to use the practical expedient to expense these sales commissions as incurred. As of July 1, 2022 and December 31, 2021, we had $33 million and $27 million, respectively, in net revenue-related contract costs primarily related to certain software contracts. Revenue-related contract costs are recorded in the Prepaid expenses and other current assets and Other assets line items in our Consolidated Condensed Balance Sheets. These assets have estimated useful lives between three eight Contract Liabilities — Our contract liabilities consist of deferred revenue generally related to subscription-based software contracts, PCS and extended warranty sales, where in most cases we receive up-front payment and recognize revenue over the service or support term. The noncurrent portion of deferred revenue is included in Other long-term liabilities in the Consolidated Condensed Balance Sheets. Our contract liabilities consisted of the following ($ in millions): July 1, 2022 December 31, 2021 Deferred revenue - current $ 479.8 $ 457.6 Deferred revenue - noncurrent 35.1 33.8 Total contract liabilities $ 514.9 $ 491.4 During the three and six month period ended July 1, 2022, we recognized revenue related to our contract liabilities at December 31, 2021 of $102 million and $256 million, respectively. The change in our contract liabilities from December 31, 2021 to July 1, 2022 was primarily due to the timing of billings and recognition as revenue of subscription-based software contracts, PCS and extended warranty services. Remaining Performance Obligations — Our remaining performance obligations represent the transaction price of firm, non-cancelable orders and the average contract value for software contracts, for which work has not been performed. We have excluded performance obligations with an original expected duration of one year or less from the amounts below. The aggregate performance obligations attributable to each of our segments is as follows ($ in millions): July 1, 2022 Intelligent Operating Solutions $ 585.9 Precision Technologies 47.2 Advanced Healthcare Solutions 76.1 Total remaining performance obligations $ 709.2 The majority of remaining performance obligations are related to service and support contracts, which we expect to fulfill approximately 80 percent within the next two years, approximately 90 percent within the next three years, and substantially all within four years. Disaggregation of Revenue We disaggregate revenue from contracts with customers by sales of products and software and services, geographic location, and end market for each of our segments, as we believe it best depicts how the nature, amount, timing and uncertainty of our revenue and cash flows are affected by economic factors. Disaggregation of revenue for the three month period ended July 1, 2022 is presented as follows ($ in millions): Total Intelligent Operating Solutions Precision Technologies Advanced Healthcare Solutions Sales: Sales of products and software $ 1,229.4 $ 534.2 $ 444.7 $ 250.5 Sales of services 233.9 95.9 54.4 83.6 Total $ 1,463.3 $ 630.1 $ 499.1 $ 334.1 Geographic: United States $ 779.0 $ 341.1 $ 249.6 $ 188.3 China 182.7 56.1 101.6 25.0 All other (each country individually less than 5% of total sales) 501.6 232.9 147.9 120.8 Total $ 1,463.3 $ 630.1 $ 499.1 $ 334.1 End markets: (a) Direct sales: Healthcare $ 369.8 $ 13.2 $ 41.3 $ 315.3 Industrial & Manufacturing 341.9 227.4 107.7 6.8 Utilities & Power 94.0 47.9 46.1 — Government 110.1 60.5 41.4 8.2 Communications, Electronics & Semiconductor 102.1 26.3 75.4 0.4 Aerospace & Defense 64.7 0.2 64.5 — Oil & Gas 68.6 65.8 2.8 — Retail & Consumer 84.4 60.6 23.8 — Other 158.5 90.1 68.4 — Total direct sales 1,394.1 592.0 471.4 330.7 Distributors 69.2 38.1 27.7 3.4 Total $ 1,463.3 $ 630.1 $ 499.1 $ 334.1 (a) Direct sales by end market include sales made through third-party distributors where we have visibility into the end customer. Disaggregation of revenue for the three month period ended July 2, 2021 is presented as follows ($ in millions): Total Intelligent Operating Solutions Precision Technologies Advanced Healthcare Solutions Sales: Sales of products and software $ 1,136.0 $ 478.4 $ 417.5 $ 240.1 Sales of services 183.7 63.4 54.4 65.9 Total $ 1,319.7 $ 541.8 $ 471.9 $ 306.0 Geographic: United States $ 671.6 $ 276.7 $ 236.3 $ 158.6 China 163.5 53.7 81.7 28.1 All other (each country individually less than 5% of total sales) 484.6 211.4 153.9 119.3 Total $ 1,319.7 $ 541.8 $ 471.9 $ 306.0 End markets: (a) Direct sales: Healthcare $ 328.6 $ 8.4 $ 33.9 $ 286.3 Industrial & Manufacturing 312.1 200.7 105.4 6.0 Utilities & Power 97.8 57.2 40.6 — Government 99.0 51.3 37.9 9.8 Communications, Electronics & Semiconductor 97.6 32.8 64.3 0.5 Aerospace & Defense 65.7 — 65.7 — Oil & Gas 66.7 64.0 2.7 — Retail & Consumer 44.6 18.7 25.9 — Other 137.3 71.7 65.6 — Total direct sales 1,249.4 504.8 442.0 302.6 Distributors 70.3 37.0 29.9 3.4 Total $ 1,319.7 $ 541.8 $ 471.9 $ 306.0 (a) Direct sales by end market include sales made through third-party distributors where we have visibility into the end customer. Disaggregation of revenue for the six month period ended July 1, 2022 is presented as follows ($ in millions): Total Intelligent Operating Solutions Precision Technologies Advanced Healthcare Solutions Sales: Sales of products and software $ 2,382.1 $ 1,034.7 $ 855.3 $ 492.1 Sales of services 457.7 183.0 106.2 168.5 Total $ 2,839.8 $ 1,217.7 $ 961.5 $ 660.6 Geographic: United States $ 1,518.9 $ 663.0 $ 483.6 $ 372.3 China 328.1 104.0 170.9 53.2 All other (each country individually less than 5% of total sales) 992.8 450.7 307.0 235.1 Total $ 2,839.8 $ 1,217.7 $ 961.5 $ 660.6 End markets: (a) Direct sales: Healthcare $ 723.1 $ 23.5 $ 78.4 $ 621.2 Industrial & Manufacturing 663.8 438.5 211.4 13.9 Utilities & Power 180.3 90.9 89.4 — Government 215.8 112.1 86.1 17.6 Communications, Electronics & Semiconductor 189.9 50.1 138.8 1.0 Aerospace & Defense 120.1 0.3 119.8 — Oil & Gas 133.4 128.1 5.3 — Retail & Consumer 165.6 124.3 41.3 — Other 312.4 177.6 134.7 0.1 Total direct sales 2,704.4 1,145.4 905.2 653.8 Distributors 135.4 72.3 56.3 6.8 Total $ 2,839.8 $ 1,217.7 $ 961.5 $ 660.6 (a) Direct sales by end market include sales made through third-party distributors where we have visibility into the end customer. Disaggregation of revenue for the six month period ended July 2, 2021 is presented as follows ($ in millions): Total Intelligent Operating Solutions Precision Technologies Advanced Healthcare Solutions Sales: Sales of products and software $ 2,213.2 $ 931.4 $ 810.6 $ 471.2 Sales of services 365.7 121.3 108.7 135.7 Total $ 2,578.9 $ 1,052.7 $ 919.3 $ 606.9 Geographic: United States $ 1,292.4 $ 524.9 $ 455.4 $ 312.1 China 327.8 113.2 158.5 56.1 All other (each country individually less than 5% of total sales) 958.7 414.6 305.4 238.7 Total $ 2,578.9 $ 1,052.7 $ 919.3 $ 606.9 End markets: (a) Direct sales: Healthcare $ 655.4 $ 17.8 $ 68.9 $ 568.7 Industrial & Manufacturing 614.4 397.2 205.4 11.8 Utilities & Power 192.7 111.5 81.2 — Government 186.9 96.1 72.3 18.5 Communications, Electronics & Semiconductor 185.4 60.3 123.9 1.2 Aerospace & Defense 121.1 — 121.1 — Oil & Gas 130.0 124.5 5.5 — Retail & Consumer 90.1 42.2 47.9 — Other 262.2 127.8 134.4 — Total direct sales 2,438.2 977.4 860.6 600.2 Distributors 140.7 75.3 58.7 6.7 Total $ 2,578.9 $ 1,052.7 $ 919.3 $ 606.9 (a) Direct sales by end market include sales made through third-party distributors where we have visibility into the end customer.

Income Taxes

Income Taxes	6 Months Ended
Income Taxes	Jul. 01, 2022
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 7. INCOME TAXES Our effective tax rates for the three and six month periods ended July 1, 2022 were 16.9% and 15.3%, respectively, as compared to 12.3% and 10.0%, respectively, for the three and six month periods ended July 2, 2021. The year-over-year increase in the effective tax rate for the three month period ended July 1, 2022 as compared to the three month period ended July 2, 2021 was due primarily to a reduction in our uncertain tax positions during the three month period ended July 2, 2021 and the effect of Russia exit and wind down costs for which no tax benefit was recognized in the three month period ended July 2, 2021 . The year-over-year increase in the effective tax rate for the six month period ended July 1, 2022 as compared to the six month period ended July 2, 2021 was primarily due to a non-recurring permanent difference on the Q1 2021 gain on our Retained Vontier Shares as a result of the tax-free treatment of our disposition of the shares through the Debt-for-Equity Exchange and increases in certain federal tax benefits for the six month period ended July 2, 2021.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
Stock-Based Compensation	Jul. 01, 2022
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	NOTE 8. STOCK-BASED COMPENSATION Our stock-based compensation program (the “Stock Plan”) provides for the grant of stock appreciation rights, performance stock units, restricted stock units, restricted stock awards, and performance stock awards (collectively, “Stock Awards”), stock options, or any other stock-based award. As of July 1, 2022, approximately 16 million shares of our common stock were available for subsequent issuance under the Stock Plan. For a full description of our stock-based compensation program refer to Note 17 of our 2021 Annual Report on Form 10-K. Stock-based Compensation Expense Stock-based compensation has been recognized as a component of Selling, general and administrative expenses in the Consolidated Condensed Statements of Earnings based on the portion of the awards that are ultimately expected to vest. The following summarizes the components of our stock-based compensation expense under the Stock Plan ($ in millions): Three Months Ended Six Months Ended July 1, 2022 July 2, 2021 July 1, 2022 July 2, 2021 Stock Awards: Pretax compensation expense $ 16.0 $ 12.2 $ 28.7 $ 22.7 Income tax benefit (3.0) (1.9) (4.7) (3.8) Stock Award expense, net of income taxes 13.0 10.3 24.0 18.9 Stock options: Pretax compensation expense 9.1 8.0 16.3 14.1 Income tax benefit (1.4) (1.3) (2.4) (2.5) Stock option expense, net of income taxes 7.7 6.7 13.9 11.6 Total stock-based compensation: Pretax compensation expense 25.1 20.2 45.0 36.8 Income tax benefit (4.4) (3.2) (7.1) (6.3) Total stock-based compensation expense, net of income taxes $ 20.7 $ 17.0 $ 37.9 $ 30.5 The following summarizes the unrecognized compensation cost for the Stock Plan awards as of July 1, 2022. This compensation cost is expected to be recognized over a weighted average period of approximately two years, representing the remaining service period related to the awards. Future compensation amounts will be adjusted for any changes in estimated forfeitures ($ in millions): Stock Awards $ 109.8 Stock options 61.9 Total unrecognized compensation cost $ 171.7

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jul. 01, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 9. COMMITMENTS AND CONTINGENCIES For a description of our litigation and contingencies and additional information about our leases, refer to Note 16 and Note 10, respectively, in our 2021 Annual Report on Form 10-K. Warranty We generally accrue estimated warranty costs at the time of sale. In general, manufactured products are warranted against defects in material and workmanship when properly used for their intended purpose, installed correctly, and appropriately maintained. Warranty period terms depend on the nature of the product and range from 90 days up to the life of the product. The amount of the accrued warranty liability is determined based on historical information such as past experience, product failure rates or number of units repaired, estimated cost of material and labor, and, in certain instances, estimated property damage. The accrued warranty liability is reviewed on a quarterly basis and may be adjusted as additional information regarding expected warranty costs becomes known. The following is a roll forward of our accrued warranty liability ($ in millions): Balance, December 31, 2021 $ 25.2 Accruals for warranties issued during the period 6.8 Settlements made (9.2) Effect of foreign currency translation and other (0.2) Balance, July 1, 2022 $ 22.6 Leases

Net Earnings Per Share

Net Earnings Per Share	6 Months Ended
Net Earnings Per Share	Jul. 01, 2022
Earnings Per Share [Abstract]
Net Earnings Per Share	NOTE 10. NET EARNINGS PER SHARE Basic net EPS is calculated by dividing net earnings attributable to common stockholders by the weighted average number of shares of common stock outstanding for the applicable period. Diluted EPS is similarly calculated, except that the calculation includes the dilutive effect of the assumed conversion of Convertible Notes and associated issuance of shares under the if-converted method and the assumed issuance of shares under stock-based compensation plans under the treasury stock method, except where the inclusion of such shares would have an anti-dilutive impact. Anti-dilutive options excluded from the diluted EPS calculation for the three and six month periods ended July 1, 2022 were 7.7 million and 7.5 million, and were immaterial and 0.2 million for the three and six month periods ended July 2, 2021, respectively. As described in Note 5, upon conversion of the Convertible Notes, holders were entitled to receive cash, shares of our common stock, or a combination thereof, at our election. As described in Note 1, prior to our adoption of ASU 2020-06 on January 1, 2022, we accounted for the conversion feature under the treasury stock method in our calculation of EPS since we intended and had the ability to settle such conversions through cash up to the principal amount of the Convertible Notes and, if applicable, through shares of our common stock for conversion value, if any, in excess of the principal amount of the Convertible Notes. Because the fair value of our common stock was below the conversion price, the Convertible Notes had no impact on our earnings per share for the six month period ended July 2, 2021. Upon adopting ASU 2020-06 on January 1, 2022, we accounted for the Convertible Notes under the if-converted method in our calculation of diluted EPS, as required under the new guidance. On July 1, 2021, all outstanding shares of our 5.0% Mandatory Convertible Preferred Stock (“MCPS”) converted at a rate of 14.0978 common shares per share of preferred stock into an aggregate of approximately 19.4 million shares (net of fractional shares) of the Company’s common stock, pursuant to the terms of the Certificate of Designation governing the Series A Preferred Stock. Fortive issued cash in lieu of fractional shares of common stock in the conversion. These payments were recorded as a reduction to additional paid-in capital. The impact of the MCPS calculated under the if-converted method was anti-dilutive for the periods in 2021 prior to conversion. Information related to the calculation of net earnings per share of common stock is summarized as follows ($ and shares in millions, except per share amounts): Three Months Ended Six Months Ended July 1, 2022 July 2, 2021 July 1, 2022 July 2, 2021 Numerator Net earnings from continuing operations $ 173.0 $ 182.0 $ 338.1 $ 293.7 Mandatory convertible preferred stock cumulative dividends — (17.2) — (34.5) Convertible note interest add-back (if converted method) — — 1.8 — Diluted Net Earnings from Continuing Operations $ 173.0 $ 164.8 $ 339.9 $ 259.2 Denominator Weighted average common shares outstanding used in basic earnings per share 357.4 339.4 358.3 339.0 Incremental common shares from: Assumed exercise of dilutive options and vesting of dilutive Stock Awards 2.4 3.0 2.7 3.1 Conversion of convertible notes (if converted method) — — 3.2 — Weighted average common shares outstanding used in diluted earnings per share 359.8 342.4 364.2 342.1 Net earnings from continuing operations per common share - Basic $ 0.48 $ 0.49 $ 0.94 $ 0.76 Net earnings from continuing operations per common share - Diluted $ 0.48 $ 0.48 $ 0.93 $ 0.76 We declared and paid cash dividends per common share for the periods as presented below. We declared and paid the MCPS dividend in the first quarter of 2021, and declared and paid the final dividend in the second quarter of 2021. Dividend Per Amount Dividend per MCPS Amount 2022: First quarter $ 0.07 $ 25.1 $ — $ — Second quarter 0.07 24.9 — — Total $ 0.14 $ 50.0 $ — $ — 2021: First quarter $ 0.07 $ 23.7 $ 12.5 $ 17.3 Second quarter 0.07 23.7 12.5 $— 17.2 Total $ 0.14 $ 47.4 $ 25.0 $ 34.5 * The sum of the components of total dividends paid may not equal the total amount due to rounding. Share Repurchase Program

Segment Information

Segment Information	6 Months Ended
Segment Information	Jul. 01, 2022
Segment Reporting [Abstract]
Segment Information	NOTE 11. SEGMENT INFORMATION We report our results in three separate business segments consisting of Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions. Our Intelligent Operating Solutions segment provides leading workflow solutions to accelerate industrial and facility reliability and performance, as well as compliance and safety across a range of vertical end markets, including manufacturing, process industries, healthcare, utilities and power, communications and electronics, among others. We provide differentiated instrumentation and sensors, software and services to address our customers’ toughest workflow challenges. Our Precision Technologies segment supplies instrumentation and sensing technologies to a broad set of vertical end markets, enabling our customers to accelerate the development, manufacture and launch of innovative products and solutions. We provide our customers with electrical test and measurement instruments and services, energetic material devices, and a broad portfolio of sensor and control system solutions. Our Advanced Healthcare Solutions segment supplies critical workflow solutions to hospitals and other healthcare customers, enabling safer, more efficient, and higher quality healthcare. We provide hardware, consumables, software and services that optimize our customers’ most critical workflows, including instrument sterilization and device reprocessing, instrument tracking, cell therapy equipment design and manufacturing, biomedical test tools, radiation safety monitoring, end-to-end clinical productivity solutions and asset management. Our chief operating decision maker (“CODM”) assesses performance and allocates resources based on our operating segments, which are also our reportable segments. Operating profit amounts in the Other category and Russia exit and wind down costs consist of unallocated corporate costs and other costs not utilized or reviewed by our CODM at a segment level in evaluating segment operating performance. Our segment results are as follows ($ in millions): Three Months Ended Six Months Ended July 1, 2022 July 2, 2021 July 1, 2022 July 2, 2021 Sales: Intelligent Operating Solutions $ 630.1 $ 541.8 $ 1,217.7 $ 1,052.7 Precision Technologies 499.1 471.9 961.5 919.3 Advanced Healthcare Solutions 334.1 306.0 660.6 606.9 Total $ 1,463.3 $ 1,319.7 $ 2,839.8 $ 2,578.9 Operating Profit: Intelligent Operating Solutions $ 129.9 $ 115.3 $ 236.9 $ 223.4 Precision Technologies 115.3 104.1 216.7 200.0 Advanced Healthcare Solutions 28.1 22.5 56.1 41.4 Other (24.8) (30.6) (48.9) (55.9) Russia exit and wind down costs (16.2) — (16.2) — Total Operating Profit 232.3 211.3 444.6 408.9 Interest expense, net (21.0) (25.2) (39.8) (52.9) Loss on extinguishment of debt — — — (104.9) Gain on investment in Vontier Corporation — — — 57.0 Gain on litigation resolution — 26.0 — 26.0 Other non-operating expense, net (3.1) (4.6) (5.8) (7.9) Earnings from continuing operations before income taxes $ 208.2 $ 207.5 $ 399.0 $ 326.2

Business Overview (Policies)

Business Overview (Policies)	6 Months Ended
Business Overview (Policies)	Jul. 01, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) Foreign currency translation adjustments are generally not adjusted for income taxes as they relate to indefinite investments in non-U.S. subsidiaries. During the three and six month periods ended July 1, 2022, we designated our ¥14.4 billion Yen-denominated variable interest rate term loan and our €275 million Euro-denominated variable interest rate term loan outstanding as net investment hedges of our investment in certain foreign operations. During the three and six month periods ended July 1, 2022, we recognized after-tax foreign currency transaction gains of $3.6 million on the debt that were deferred in the foreign currency translation component of Accumulated other comprehensive
Allowances for Doubtful Accounts	Allowances for Doubtful AccountsAll trade accounts and unbilled receivables are reported in the Consolidated Condensed Balance Sheet adjusted for any write-offs and net of allowances for credit losses. The allowances for credit losses represent management’s best estimate of the credit losses expected from our unbilled and trade accounts receivable portfolios over the life of the underlying assets. Additions to the allowances are charged to current period earnings, amounts determined to be uncollectible are charged directly against the allowances, while amounts recovered on previously written-off accounts increase the allowances.
Recently Issued Accounting Standard	Recently Issued Accounting Standard In August 2020, the Financial Accounting Standards Board issued Accounting Standards Update No. 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity, which amends the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts in an entity’s own equity. On January 1, 2022, we adopted ASU 2020-06 using a modified retrospective approach and recognized in our balance sheet, as of January 1, 2022, a net of tax adjustment to reduce Additional Paid-in Capital by $65.7 million and increase debt by $3.7 million, with a corresponding net of tax adjustment to beginning retained earnings of $62.8 million. These adjustments are related to our 0.875% Convertible Senior Notes (the “Convertible Notes”), which were the only outstanding instruments impacted by the new standard at the time of adoption. Results for reporting periods beginning January 1, 2022 reflect the adoption of ASU 2020-06, while prior period amounts were not adjusted and continue to be reported in accordance with our historical accounting practices. Prior to our adoption of ASU 2020-06 on January 1, 2022, we recognized the fair value of the nonconvertible debt component of our Convertible Notes subject to the cash conversion guidance as debt and attributed the residual value to the conversion feature which was recognized in APIC. Subsequent to the issuance of our Convertible Notes in February 2019, we accreted the debt discount as non-cash interest expense in our Statements of Earnings. Further, we applied the treasury stock method to our Convertible Notes when calculating earnings per share (“EPS”) in all periods prior to our adoption of ASU 2020-06. After our adoption of ASU 2020-06, we account for convertible debt instruments wholly as debt, unless a convertible instrument contains features that require bifurcation as a derivative under ASC 815 or a convertible debt instrument is issued at a substantial premium. On January 1, 2022, we reclassified the unamortized cost basis of our outstanding Convertible Notes wholly as debt, which subsequently matured and was settled on February 15, 2022. We applied the if-converted method to all convertible instruments when calculating EPS for the six months ended July 1, 2022. As of July 1, 2022, we had no convertible instruments outstanding subject to the guidance in ASU 2020-06.
Fair Value Measurements	Accounting standards define fair value based on an exit price model, establish a framework for measuring fair value where our assets and liabilities are required to be carried at fair value, and provide for certain disclosures related to the valuation methods used within a valuation hierarchy as established within the accounting standards. This hierarchy prioritizes the inputs into three broad levels as follows: • Level 1 inputs are quoted prices (unadjusted) for identical assets or liabilities in active markets. • Level 2 inputs are quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets in markets that are not active, or other observable characteristics for the asset or liability, including interest rates, yield curves and credit risks, or inputs that are derived principally from, or corroborated by, observable market data through correlation. • Level 3 inputs are unobservable inputs based on our assumptions. The classification of a financial asset or liability within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement in its entirety.
Sales	We derive revenue primarily from the sale of products and software, and services. Revenue is recognized when control of promised products or services is transferred to customers in an amount that reflects the consideration we expect to be entitled to in exchange for those products, software, or services. Product sales include revenue from the sale of products and equipment, which includes our software and SaaS product offerings and equipment rentals. Service sales include revenues from extended warranties, post-contract customer support (“PCS”), maintenance contracts or services, contract labor to perform ongoing service at a customer location, and services related to previously sold products. Contract Assets — In certain circumstances, we record contract assets which include unbilled amounts typically resulting from sales under contracts when revenue recognized exceeds the amount billed to the customer, and right to payment is not only subject to the passage of time. Contract assets were $83 million as of July 1, 2022 and $71 million as of December 31, 2021. Contract Costs — We incur and capitalize direct incremental costs to obtain certain contracts, typically sales-related commissions and costs associated with assets used by our customers in certain software arrangements. Deferred sales-related commissions are not capitalized when the amortization period is one year or less, as we elected to use the practical expedient to expense these sales commissions as incurred. As of July 1, 2022 and December 31, 2021, we had $33 million and $27 million, respectively, in net revenue-related contract costs primarily related to certain software contracts. Revenue-related contract costs are recorded in the Prepaid expenses and other current assets and Other assets line items in our Consolidated Condensed Balance Sheets. These assets have estimated useful lives between three eight Contract Liabilities — Our contract liabilities consist of deferred revenue generally related to subscription-based software contracts, PCS and extended warranty sales, where in most cases we receive up-front payment and recognize revenue over the service or support term. The noncurrent portion of deferred revenue is included in Other long-term liabilities in the Consolidated Condensed Balance Sheets. Remaining Performance Obligations — Our remaining performance obligations represent the transaction price of firm, non-cancelable orders and the average contract value for software contracts, for which work has not been performed. We have excluded performance obligations with an original expected duration of one year or less from the amounts below.

Business Overview (Tables)

Business Overview (Tables)	6 Months Ended
Business Overview (Tables)	Jul. 01, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Reclassification of Accumulated Other Comprehensive Income	The changes in AOCI by component are summarized below ($ in millions): Foreign Pension adjustments (a) Total For the Three Months Ended July 1, 2022: Balance, April 1, 2022 $ (162.1) $ (61.8) $ (223.9) Other comprehensive income (loss) before reclassifications, net of income taxes (121.3) — (121.3) Amounts reclassified from accumulated other comprehensive income (loss): Increase (decrease) 2.7 0.5 (b) 3.2 Income tax impact — (0.1) (0.1) Amounts reclassified from accumulated other comprehensive income (loss), net of income taxes 2.7 0.4 3.1 Net current period other comprehensive income (loss), net of income taxes (118.6) 0.4 (118.2) Balance, July 1, 2022 $ (280.7) $ (61.4) $ (342.1) For the Three Months Ended July 2, 2021: Balance, April 2, 2021 $ (88.7) $ (86.1) $ (174.8) Other comprehensive income (loss) before reclassifications, net of income taxes 16.6 — 16.6 Amounts reclassified from accumulated other comprehensive income (loss): Increase (decrease) — 1.2 (b) 1.2 Income tax impact — (0.3) (0.3) Amounts reclassified from accumulated other comprehensive income (loss), net of income taxes — 0.9 0.9 Net current period other comprehensive income (loss), net of income taxes 16.6 0.9 17.5 Balance, July 2, 2021 $ (72.1) $ (85.2) $ (157.3) Foreign Pension adjustments (a) Total For the Six Months Ended July 1, 2022: Balance, December 31, 2021 $ (122.7) $ (62.3) $ (185.0) Other comprehensive income (loss) before reclassifications, net of income taxes (160.7) — (160.7) Amounts reclassified from accumulated other comprehensive income (loss): Increase (decrease) 2.7 1.1 (b) 3.8 Income tax impact — (0.2) (0.2) Amounts reclassified from accumulated other comprehensive income (loss), net of income taxes 2.7 0.9 3.6 Net current period other comprehensive income (loss) (158.0) 0.9 (157.1) Balance, July 1, 2022 $ (280.7) $ (61.4) $ (342.1) For the Six Months Ended July 2, 2021: Balance, December 31, 2020 $ (54.0) $ (87.1) $ (141.1) Other comprehensive income (loss) before reclassifications, net of income taxes (18.1) — (18.1) Amounts reclassified from accumulated other comprehensive income (loss): Increase (decrease) — 2.5 (b) 2.5 Income tax impact — (0.6) (0.6) Amounts reclassified from accumulated other comprehensive income (loss), net of income taxes — 1.9 1.9 Net current period other comprehensive income (loss) (18.1) 1.9 (16.2) Balance, July 2, 2021 $ (72.1) $ (85.2) $ (157.3) (a) Includes balances relating to defined benefit plans, supplemental executive retirement plans, and other postretirement employee benefit plans. (b) This component of AOCI is included in the computation of net periodic pension cost (refer to Note 12 in our most recently filed Form 10-K for additional details).
Schedule of Accounts Receivable, Allowance for Credit Loss	The following is a roll forward of the aggregated allowance for credit losses related to our trade accounts receivables as of July 1, 2022 ($ in millions): Balance, December 31, 2021 $ 39.7 Provision 4.2 Write-offs (5.4) Foreign currency exchange and other (0.6) Balance, July 1, 2022 $ 37.9

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
Acquisitions (Tables)	Jul. 01, 2022
Business Combination and Asset Acquisition [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table summarizes the estimated fair value of the assets acquired and liabilities assumed from ServiceChannel and Provation as of July 1, 2022 ($ in millions): Provation ServiceChannel Total Accounts receivable $ 41.3 $ 10.1 $ 51.4 Goodwill 978.0 874.2 1,852.2 Other intangible assets, primarily customer relationships, technology, database, and trade names 586.5 342.9 929.4 Deferred revenue, current (50.3) (1.7) (52.0) Deferred tax liabilities (119.4) (50.8) (170.2) Other assets and liabilities, net (30.5) (8.4) (38.9) Net cash consideration $ 1,405.6 $ 1,166.3 $ 2,571.9

Goodwill (Tables)

Goodwill (Tables)	6 Months Ended
Goodwill (Tables)	Jul. 01, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The following is a roll forward of our carrying value of goodwill by segment ($ in millions): Intelligent Operating Solutions Precision Technologies Advanced Healthcare Solutions Total Goodwill Balance, December 31, 2021 $ 4,126.0 $ 1,840.0 $ 3,186.0 $ 9,152.0 Measurement period adjustments for 2021 acquisitions 0.8 — 9.6 10.4 Foreign currency translation and other (44.3) (37.3) (22.6) (104.2) Balance, July 1, 2022 $ 4,082.5 $ 1,802.7 $ 3,173.0 $ 9,058.2

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
Fair Value Measurements (Tables)	Jul. 01, 2022
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Liabilities Measured on Recurring Basis	Below is a summary of financial liabilities that are measured at fair value on a recurring basis ($ in millions): Quoted Prices Significant Other Significant Total July 1, 2022 Deferred compensation liabilities $ — $ 31.4 $ — $ 31.4 December 31, 2021 Deferred compensation liabilities — 36.0 — 36.0
Schedule of Carrying Amounts and Fair Values of Financial Instruments	The carrying amount and fair value of financial instruments are as follows ($ in millions): July 1, 2022 December 31, 2021 Carrying Amount Fair Value Carrying Amount Fair Value Current portion of long-term debt $ 999.9 $ 1,000.0 $ 2,151.7 $ 2,158.3 Long-term debt, net of current maturities $ 2,682.2 $ 2,584.8 $ 1,807.3 $ 1,978.9

Financing and Capital (Tables)

Financing and Capital (Tables)	6 Months Ended
Financing and Capital (Tables)	Jul. 01, 2022
Debt Disclosure [Abstract]
Schedule of Debt	The carrying value of the components of our long-term debt were as follows ($ in millions): July 1, 2022 December 31, 2021 U.S. dollar-denominated commercial paper $ 847.0 $ 364.9 Delayed-Draw Term Loan due 2022 999.9 999.7 Yen Term Loan due 2025 106.4 — Euro Term Loan due 2025 285.8 — 3.15% senior unsecured notes due 2026 895.7 895.1 4.30% senior unsecured notes due 2046 547.3 547.3 0.875% senior convertible notes due 2022 — 1,152.0 Long-term debt 3,682.1 3,959.0 Less: current portion of long-term debt 999.9 2,151.7 Long-term debt, net of current maturities $ 2,682.2 $ 1,807.3
Schedule of Outstanding Paper Programs	The details of our outstanding Commercial Paper Programs as of July 1, 2022 were as follows ($ in millions): Carrying value Annual effective rate Weighted average remaining maturity (in days) U.S. dollar-denominated commercial paper $ 847.0 1.84 % 32

Sales (Tables)

Sales (Tables)	6 Months Ended
Sales (Tables)	Jul. 01, 2022
Revenue from Contract with Customer [Abstract]
Schedule of Contract Liabilities	Our contract liabilities consisted of the following ($ in millions): July 1, 2022 December 31, 2021 Deferred revenue - current $ 479.8 $ 457.6 Deferred revenue - noncurrent 35.1 33.8 Total contract liabilities $ 514.9 $ 491.4
Schedule of Remaining Performance Obligations	The aggregate performance obligations attributable to each of our segments is as follows ($ in millions): July 1, 2022 Intelligent Operating Solutions $ 585.9 Precision Technologies 47.2 Advanced Healthcare Solutions 76.1 Total remaining performance obligations $ 709.2
Schedule of Disaggregation of Revenue	Disaggregation of revenue for the three month period ended July 1, 2022 is presented as follows ($ in millions): Total Intelligent Operating Solutions Precision Technologies Advanced Healthcare Solutions Sales: Sales of products and software $ 1,229.4 $ 534.2 $ 444.7 $ 250.5 Sales of services 233.9 95.9 54.4 83.6 Total $ 1,463.3 $ 630.1 $ 499.1 $ 334.1 Geographic: United States $ 779.0 $ 341.1 $ 249.6 $ 188.3 China 182.7 56.1 101.6 25.0 All other (each country individually less than 5% of total sales) 501.6 232.9 147.9 120.8 Total $ 1,463.3 $ 630.1 $ 499.1 $ 334.1 End markets: (a) Direct sales: Healthcare $ 369.8 $ 13.2 $ 41.3 $ 315.3 Industrial & Manufacturing 341.9 227.4 107.7 6.8 Utilities & Power 94.0 47.9 46.1 — Government 110.1 60.5 41.4 8.2 Communications, Electronics & Semiconductor 102.1 26.3 75.4 0.4 Aerospace & Defense 64.7 0.2 64.5 — Oil & Gas 68.6 65.8 2.8 — Retail & Consumer 84.4 60.6 23.8 — Other 158.5 90.1 68.4 — Total direct sales 1,394.1 592.0 471.4 330.7 Distributors 69.2 38.1 27.7 3.4 Total $ 1,463.3 $ 630.1 $ 499.1 $ 334.1 (a) Direct sales by end market include sales made through third-party distributors where we have visibility into the end customer. Disaggregation of revenue for the three month period ended July 2, 2021 is presented as follows ($ in millions): Total Intelligent Operating Solutions Precision Technologies Advanced Healthcare Solutions Sales: Sales of products and software $ 1,136.0 $ 478.4 $ 417.5 $ 240.1 Sales of services 183.7 63.4 54.4 65.9 Total $ 1,319.7 $ 541.8 $ 471.9 $ 306.0 Geographic: United States $ 671.6 $ 276.7 $ 236.3 $ 158.6 China 163.5 53.7 81.7 28.1 All other (each country individually less than 5% of total sales) 484.6 211.4 153.9 119.3 Total $ 1,319.7 $ 541.8 $ 471.9 $ 306.0 End markets: (a) Direct sales: Healthcare $ 328.6 $ 8.4 $ 33.9 $ 286.3 Industrial & Manufacturing 312.1 200.7 105.4 6.0 Utilities & Power 97.8 57.2 40.6 — Government 99.0 51.3 37.9 9.8 Communications, Electronics & Semiconductor 97.6 32.8 64.3 0.5 Aerospace & Defense 65.7 — 65.7 — Oil & Gas 66.7 64.0 2.7 — Retail & Consumer 44.6 18.7 25.9 — Other 137.3 71.7 65.6 — Total direct sales 1,249.4 504.8 442.0 302.6 Distributors 70.3 37.0 29.9 3.4 Total $ 1,319.7 $ 541.8 $ 471.9 $ 306.0 (a) Direct sales by end market include sales made through third-party distributors where we have visibility into the end customer. Disaggregation of revenue for the six month period ended July 1, 2022 is presented as follows ($ in millions): Total Intelligent Operating Solutions Precision Technologies Advanced Healthcare Solutions Sales: Sales of products and software $ 2,382.1 $ 1,034.7 $ 855.3 $ 492.1 Sales of services 457.7 183.0 106.2 168.5 Total $ 2,839.8 $ 1,217.7 $ 961.5 $ 660.6 Geographic: United States $ 1,518.9 $ 663.0 $ 483.6 $ 372.3 China 328.1 104.0 170.9 53.2 All other (each country individually less than 5% of total sales) 992.8 450.7 307.0 235.1 Total $ 2,839.8 $ 1,217.7 $ 961.5 $ 660.6 End markets: (a) Direct sales: Healthcare $ 723.1 $ 23.5 $ 78.4 $ 621.2 Industrial & Manufacturing 663.8 438.5 211.4 13.9 Utilities & Power 180.3 90.9 89.4 — Government 215.8 112.1 86.1 17.6 Communications, Electronics & Semiconductor 189.9 50.1 138.8 1.0 Aerospace & Defense 120.1 0.3 119.8 — Oil & Gas 133.4 128.1 5.3 — Retail & Consumer 165.6 124.3 41.3 — Other 312.4 177.6 134.7 0.1 Total direct sales 2,704.4 1,145.4 905.2 653.8 Distributors 135.4 72.3 56.3 6.8 Total $ 2,839.8 $ 1,217.7 $ 961.5 $ 660.6 (a) Direct sales by end market include sales made through third-party distributors where we have visibility into the end customer. Disaggregation of revenue for the six month period ended July 2, 2021 is presented as follows ($ in millions): Total Intelligent Operating Solutions Precision Technologies Advanced Healthcare Solutions Sales: Sales of products and software $ 2,213.2 $ 931.4 $ 810.6 $ 471.2 Sales of services 365.7 121.3 108.7 135.7 Total $ 2,578.9 $ 1,052.7 $ 919.3 $ 606.9 Geographic: United States $ 1,292.4 $ 524.9 $ 455.4 $ 312.1 China 327.8 113.2 158.5 56.1 All other (each country individually less than 5% of total sales) 958.7 414.6 305.4 238.7 Total $ 2,578.9 $ 1,052.7 $ 919.3 $ 606.9 End markets: (a) Direct sales: Healthcare $ 655.4 $ 17.8 $ 68.9 $ 568.7 Industrial & Manufacturing 614.4 397.2 205.4 11.8 Utilities & Power 192.7 111.5 81.2 — Government 186.9 96.1 72.3 18.5 Communications, Electronics & Semiconductor 185.4 60.3 123.9 1.2 Aerospace & Defense 121.1 — 121.1 — Oil & Gas 130.0 124.5 5.5 — Retail & Consumer 90.1 42.2 47.9 — Other 262.2 127.8 134.4 — Total direct sales 2,438.2 977.4 860.6 600.2 Distributors 140.7 75.3 58.7 6.7 Total $ 2,578.9 $ 1,052.7 $ 919.3 $ 606.9 (a) Direct sales by end market include sales made through third-party distributors where we have visibility into the end customer.

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
Stock-Based Compensation (Tables)	Jul. 01, 2022
Share-Based Payment Arrangement [Abstract]
Schedule of Stock-Based Compensation Costs	The following summarizes the components of our stock-based compensation expense under the Stock Plan ($ in millions): Three Months Ended Six Months Ended July 1, 2022 July 2, 2021 July 1, 2022 July 2, 2021 Stock Awards: Pretax compensation expense $ 16.0 $ 12.2 $ 28.7 $ 22.7 Income tax benefit (3.0) (1.9) (4.7) (3.8) Stock Award expense, net of income taxes 13.0 10.3 24.0 18.9 Stock options: Pretax compensation expense 9.1 8.0 16.3 14.1 Income tax benefit (1.4) (1.3) (2.4) (2.5) Stock option expense, net of income taxes 7.7 6.7 13.9 11.6 Total stock-based compensation: Pretax compensation expense 25.1 20.2 45.0 36.8 Income tax benefit (4.4) (3.2) (7.1) (6.3) Total stock-based compensation expense, net of income taxes $ 20.7 $ 17.0 $ 37.9 $ 30.5
Schedule of Future Compensation	Future compensation amounts will be adjusted for any changes in estimated forfeitures ($ in millions): Stock Awards $ 109.8 Stock options 61.9 Total unrecognized compensation cost $ 171.7

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
Commitments and Contingencies (Tables)	Jul. 01, 2022
Commitments and Contingencies Disclosure [Abstract]
Schedule of Accrued Warranty Liability	The following is a roll forward of our accrued warranty liability ($ in millions): Balance, December 31, 2021 $ 25.2 Accruals for warranties issued during the period 6.8 Settlements made (9.2) Effect of foreign currency translation and other (0.2) Balance, July 1, 2022 $ 22.6

Net Earnings Per Share (Tables)

Net Earnings Per Share (Tables)	6 Months Ended
Net Earnings Per Share (Tables)	Jul. 01, 2022
Earnings Per Share [Abstract]
Schedule of Earnings Per Share	Information related to the calculation of net earnings per share of common stock is summarized as follows ($ and shares in millions, except per share amounts): Three Months Ended Six Months Ended July 1, 2022 July 2, 2021 July 1, 2022 July 2, 2021 Numerator Net earnings from continuing operations $ 173.0 $ 182.0 $ 338.1 $ 293.7 Mandatory convertible preferred stock cumulative dividends — (17.2) — (34.5) Convertible note interest add-back (if converted method) — — 1.8 — Diluted Net Earnings from Continuing Operations $ 173.0 $ 164.8 $ 339.9 $ 259.2 Denominator Weighted average common shares outstanding used in basic earnings per share 357.4 339.4 358.3 339.0 Incremental common shares from: Assumed exercise of dilutive options and vesting of dilutive Stock Awards 2.4 3.0 2.7 3.1 Conversion of convertible notes (if converted method) — — 3.2 — Weighted average common shares outstanding used in diluted earnings per share 359.8 342.4 364.2 342.1 Net earnings from continuing operations per common share - Basic $ 0.48 $ 0.49 $ 0.94 $ 0.76 Net earnings from continuing operations per common share - Diluted $ 0.48 $ 0.48 $ 0.93 $ 0.76
Schedule of Dividends Declared	We declared and paid cash dividends per common share for the periods as presented below. We declared and paid the MCPS dividend in the first quarter of 2021, and declared and paid the final dividend in the second quarter of 2021. Dividend Per Amount Dividend per MCPS Amount 2022: First quarter $ 0.07 $ 25.1 $ — $ — Second quarter 0.07 24.9 — — Total $ 0.14 $ 50.0 $ — $ — 2021: First quarter $ 0.07 $ 23.7 $ 12.5 $ 17.3 Second quarter 0.07 23.7 12.5 $— 17.2 Total $ 0.14 $ 47.4 $ 25.0 $ 34.5 * The sum of the components of total dividends paid may not equal the total amount due to rounding.

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
Segment Information (Tables)	Jul. 01, 2022
Segment Reporting [Abstract]
Schedule of Segment Reporting Information	Our segment results are as follows ($ in millions): Three Months Ended Six Months Ended July 1, 2022 July 2, 2021 July 1, 2022 July 2, 2021 Sales: Intelligent Operating Solutions $ 630.1 $ 541.8 $ 1,217.7 $ 1,052.7 Precision Technologies 499.1 471.9 961.5 919.3 Advanced Healthcare Solutions 334.1 306.0 660.6 606.9 Total $ 1,463.3 $ 1,319.7 $ 2,839.8 $ 2,578.9 Operating Profit: Intelligent Operating Solutions $ 129.9 $ 115.3 $ 236.9 $ 223.4 Precision Technologies 115.3 104.1 216.7 200.0 Advanced Healthcare Solutions 28.1 22.5 56.1 41.4 Other (24.8) (30.6) (48.9) (55.9) Russia exit and wind down costs (16.2) — (16.2) — Total Operating Profit 232.3 211.3 444.6 408.9 Interest expense, net (21.0) (25.2) (39.8) (52.9) Loss on extinguishment of debt — — — (104.9) Gain on investment in Vontier Corporation — — — 57.0 Gain on litigation resolution — 26.0 — 26.0 Other non-operating expense, net (3.1) (4.6) (5.8) (7.9) Earnings from continuing operations before income taxes $ 208.2 $ 207.5 $ 399.0 $ 326.2

Business Overview - Narrative (

Business Overview - Narrative (Details) shares in Millions, $ in Millions		3 Months Ended		6 Months Ended		12 Months Ended
	Jan. 01, 2022 USD ($)	Jul. 01, 2022 USD ($) country	Jul. 02, 2021 USD ($)	Jul. 01, 2022 USD ($) country	Jul. 02, 2021 USD ($)	Dec. 31, 2021 USD ($)	Jun. 17, 2022 JPY (¥)	Apr. 01, 2022 USD ($)	Apr. 02, 2021 USD ($)	Jan. 19, 2021 USD ($) shares	Dec. 31, 2020 USD ($)	Feb. 22, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of countries in which entity operates (more than) \| country		50		50
Principal amount										$ 1,100
Russia exit and wind down costs		$ 16.2	$ 0	$ 16.2	$ 0
Total expected cost				18.4
After-tax foreign currency transaction gains from foreign currency translation		3.6		3.6
Stockholders' equity, including portion attributable to noncontrolling interest		9,449.4		9,449.4		$ 9,517
Revenue Benchmark \| Geographic Concentration Risk \| Russia and Ukraine
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Concentration risk (as a percent)						1%
Assets, Total \| Geographic Concentration Risk \| Russia and Ukraine
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Concentration risk (as a percent)						0.20%
Additional Paid-In Capital
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stockholders' equity, including portion attributable to noncontrolling interest		3,651.2	3,602.1	3,651.2	3,602.1	$ 3,670		$ 3,619.1	$ 3,563.8		$ 3,554.5
Additional Paid-In Capital \| Cumulative Effect, Period of Adoption, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stockholders' equity, including portion attributable to noncontrolling interest						(65.7)
Additional Paid-In Capital \| Cumulative Effect, Period of Adoption, Adjustment \| Accounting Standards Update 2020-06 Cumulative Effect, Period of Adoption
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stockholders' equity, including portion attributable to noncontrolling interest	$ 65.7
Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stockholders' equity, including portion attributable to noncontrolling interest		$ 6,374.5	$ 5,756.6	$ 6,374.5	$ 5,756.6	6,023.6		$ 6,226.4	$ 5,616.6		$ 5,547.4
Retained Earnings \| Cumulative Effect, Period of Adoption, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stockholders' equity, including portion attributable to noncontrolling interest						$ 62.8
Retained Earnings \| Cumulative Effect, Period of Adoption, Adjustment \| Accounting Standards Update 2020-06 Cumulative Effect, Period of Adoption
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stockholders' equity, including portion attributable to noncontrolling interest	$ 62.8
0.875% senior convertible notes due 2022 \| Convertible Debt
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Interest rate, stated percentage	0.875%	0.875%	0.875%	0.875%	0.875%				0.875%			0.875%
0.875% senior convertible notes due 2022 \| Convertible Debt \| Cumulative Effect, Period of Adoption, Adjustment \| Accounting Standards Update 2020-06 Cumulative Effect, Period of Adoption
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Debt instrument, increase (decrease), net	$ 3.7
Yen Term Loan
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Principal amount \| ¥							¥ 14,400,000,000
Vontier
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Investment balance (in shares) \| shares										33.5
Vontier
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Principal amount										$ 1,100

Business Overview - Accumulated

Business Overview - Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended				6 Months Ended
	Jul. 01, 2022	Apr. 01, 2022	Jul. 02, 2021	Apr. 02, 2021	Jul. 01, 2022	Jul. 02, 2021
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance		$ 9,517			$ 9,517
Other comprehensive income (loss) before reclassifications, net of income taxes	$ (121.3)		$ 16.6		(160.7)	$ (18.1)
Amounts reclassified from accumulated other comprehensive income (loss):
Increase (decrease)	3.2		1.2		3.8	2.5
Income tax impact	(0.1)		(0.3)		(0.2)	(0.6)
Amounts reclassified from accumulated other comprehensive income (loss), net of income taxes	3.1		0.9		3.6	1.9
Total other comprehensive income (loss), net of income taxes	(118.2)		17.5		(157.1)	(16.2)
Ending balance	9,449.4				9,449.4
Foreign currency translation adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(162.1)	(122.7)	(88.7)	$ (54)	(122.7)	(54)
Other comprehensive income (loss) before reclassifications, net of income taxes	(121.3)		16.6		(160.7)	(18.1)
Amounts reclassified from accumulated other comprehensive income (loss):
Increase (decrease)	2.7		0		2.7	0
Income tax impact	0		0		0	0
Amounts reclassified from accumulated other comprehensive income (loss), net of income taxes	2.7		0		2.7	0
Total other comprehensive income (loss), net of income taxes			16.6		(158)	(18.1)
Ending balance	(280.7)	(162.1)	(72.1)	(88.7)	(280.7)	(72.1)
Pension adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(61.8)	(62.3)	(86.1)	(87.1)	(62.3)	(87.1)
Other comprehensive income (loss) before reclassifications, net of income taxes	0		0		0	0
Amounts reclassified from accumulated other comprehensive income (loss):
Increase (decrease)	0.5		1.2		1.1	2.5
Income tax impact	(0.1)		(0.3)		(0.2)	(0.6)
Amounts reclassified from accumulated other comprehensive income (loss), net of income taxes	0.4		0.9		0.9	1.9
Total other comprehensive income (loss), net of income taxes	0.4		0.9		0.9	1.9
Ending balance	(61.4)	(61.8)	(85.2)	(86.1)	(61.4)	(85.2)
Accumulated Other Comprehensive Income (Loss)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(223.9)	(185)	(174.8)	(141.1)	(185)	(141.1)
Amounts reclassified from accumulated other comprehensive income (loss):
Total other comprehensive income (loss), net of income taxes	(118.2)	(38.9)	17.5	(33.7)
Ending balance	$ (342.1)	$ (223.9)	$ (157.3)	$ (174.8)	$ (342.1)	$ (157.3)

Business Overview - Allowance f

Business Overview - Allowance for Credit Losses Rollforward (Details) $ in Millions	6 Months Ended
	Jul. 01, 2022 USD ($)
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 39.7
Provision	4.2
Write-offs	(5.4)
Foreign currency exchange and other	(0.6)
Ending balance	$ 37.9

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) - USD ($) $ in Millions			6 Months Ended	12 Months Ended
Acquisitions - Narrative (Details) - USD ($) $ in Millions	Dec. 27, 2021	Aug. 24, 2021	Jul. 01, 2022	Dec. 31, 2020	Dec. 31, 2021
Business Acquisition [Line Items]
Goodwill			$ 9,058.2		$ 9,152
Provation
Business Acquisition [Line Items]
Total purchase price	$ 1,400
Goodwill	$ 978		978
Revenue of prior fiscal year				$ 90
ServiceChannel
Business Acquisition [Line Items]
Total purchase price		$ 1,200
Goodwill		874	874.2
Revenue of prior fiscal year				$ 70
Deferred compensation consideration		$ 28
Provation and Service Channel Acquisition
Business Acquisition [Line Items]
Goodwill			1,852.2
Revenue of acquiree since acquisition date			132.8
Operating loss of acquiree since acquisition date			21.7
Amortization of intangibles and integration and transaction costs attributable to acquiree			38.7
Transaction-related costs			$ 12.9

Acquisitions - Recognized Ident

Acquisitions - Recognized Identified Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Millions	Jul. 01, 2022	Dec. 31, 2021	Dec. 27, 2021	Aug. 24, 2021
Business Acquisition [Line Items]
Goodwill	$ 9,058.2	$ 9,152
Provation
Business Acquisition [Line Items]
Accounts receivable	41.3
Goodwill	978		$ 978
Other intangible assets, primarily customer relationships, technology, database, and trade names	586.5
Deferred revenue, current	(50.3)
Deferred tax liabilities	(119.4)
Other assets and liabilities, net	(30.5)
Net cash consideration	1,405.6
ServiceChannel
Business Acquisition [Line Items]
Accounts receivable	10.1
Goodwill	874.2			$ 874
Other intangible assets, primarily customer relationships, technology, database, and trade names	342.9
Deferred revenue, current	(1.7)
Deferred tax liabilities	(50.8)
Other assets and liabilities, net	(8.4)
Net cash consideration	1,166.3
Provation and Service Channel Acquisition
Business Acquisition [Line Items]
Accounts receivable	51.4
Goodwill	1,852.2
Other intangible assets, primarily customer relationships, technology, database, and trade names	929.4
Deferred revenue, current	(52)
Deferred tax liabilities	(170.2)
Other assets and liabilities, net	(38.9)
Net cash consideration	$ 2,571.9

Goodwill - Rollforward of Goodw

Goodwill - Rollforward of Goodwill (Details) $ in Millions	6 Months Ended
Goodwill - Rollforward of Goodwill (Details) $ in Millions	Jul. 01, 2022 USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 9,152
Measurement period adjustments for 2021 acquisitions	10.4
Foreign currency translation and other	(104.2)
Ending balance	9,058.2
Intelligent Operating Solutions
Goodwill [Roll Forward]
Beginning balance	4,126
Measurement period adjustments for 2021 acquisitions	0.8
Foreign currency translation and other	(44.3)
Ending balance	4,082.5
Precision Technologies
Goodwill [Roll Forward]
Beginning balance	1,840
Measurement period adjustments for 2021 acquisitions	0
Foreign currency translation and other	(37.3)
Ending balance	1,802.7
Advanced Healthcare Solutions
Goodwill [Roll Forward]
Beginning balance	3,186
Measurement period adjustments for 2021 acquisitions	9.6
Foreign currency translation and other	(22.6)
Ending balance	$ 3,173

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value Liabilities Measured on Recurring Basis (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Millions	Jul. 01, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation liabilities	$ 31.4	$ 36
Quoted Prices in Active Market (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation liabilities	0	0
Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation liabilities	31.4	36
Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation liabilities	$ 0	$ 0

Fair Value Measurements - Carry

Fair Value Measurements - Carrying Amounts and Fair Values of Financial Instruments (Details) - USD ($) $ in Millions	Jul. 01, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Current portion of long-term debt, carrying amount	$ 999.9	$ 2,151.7
Long-term debt, net of current maturities, carrying value	2,682.2	1,807.3
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Current portion of long-term debt, carrying amount		2,151.7
Current portion of long-term debt, fair value	1,000	2,158.3
Long-term debt, net of current maturities, carrying value	2,682.2	1,807.3
Long-term debt, net of current maturities, fair value	$ 2,584.8	$ 1,978.9

Financing and Capital - Compone

Financing and Capital - Components of Debt (Details) - USD ($) $ in Millions	Jul. 01, 2022	Jan. 01, 2022	Dec. 31, 2021	Jul. 02, 2021	Apr. 02, 2021	Feb. 22, 2019
Debt Instrument [Line Items]
Long-term debt	$ 3,682.1		$ 3,959
Less: current portion of long-term debt	999.9		2,151.7
Long-term debt, net of current maturities	2,682.2		1,807.3
Delayed-Draw Term Loan due 2022
Debt Instrument [Line Items]
Long-term debt	999.9		999.7
Yen Term Loan due 2025
Debt Instrument [Line Items]
Long-term debt	106.4		0
Euro Term Loan due 2025
Debt Instrument [Line Items]
Long-term debt	285.8		0
Commercial Paper \| U.S. dollar-denominated commercial paper
Debt Instrument [Line Items]
Long-term debt	847		364.9
Convertible and Registered Notes \| 3.15% senior unsecured notes due 2026
Debt Instrument [Line Items]
Long-term debt	$ 895.7		895.1
Interest rate, stated percentage	3.15%
Convertible and Registered Notes \| 4.30% senior unsecured notes due 2046
Debt Instrument [Line Items]
Long-term debt	$ 547.3		547.3
Interest rate, stated percentage	4.30%
Convertible Debt \| 0.875% senior convertible notes due 2022
Debt Instrument [Line Items]
Long-term debt	$ 0		$ 1,152			$ 1,300
Interest rate, stated percentage	0.875%	0.875%		0.875%	0.875%	0.875%

Financing and Capital - Narrati

Financing and Capital - Narrative (Details) shares in Millions							3 Months Ended			6 Months Ended
	Jun. 28, 2022 USD ($)	Jun. 21, 2022 USD ($)	Jun. 17, 2022 USD ($)	Feb. 15, 2022 USD ($)	Feb. 09, 2021 USD ($)	Feb. 22, 2019 USD ($)	Jul. 01, 2022 USD ($)	Jul. 02, 2021 USD ($)	Apr. 02, 2021 USD ($)	Jul. 01, 2022 USD ($)	Jul. 02, 2021 USD ($)	Jun. 17, 2022 JPY (¥)	Jan. 01, 2022	Dec. 31, 2021 USD ($)	Jan. 19, 2021 USD ($) shares
Debt Instrument [Line Items]
Debt discounts, premiums and issuance costs							$ 8,000,000			$ 8,000,000				$ 13,000,000
Principal amount															$ 1,100,000,000
Carrying value							3,682,100,000			3,682,100,000				3,959,000,000
Loss on extinguishment of debt							0	$ 0		0	$ 104,900,000
Repayments of convertible debt										1,156,500,000	0
Interest expense							21,000,000	$ 25,200,000		$ 39,800,000	52,900,000
Vontier
Debt Instrument [Line Items]
Investment balance (in shares) \| shares															33.5
Gain on investment in Vontier Corporation									$ 57,000,000
Yen Term Loan
Debt Instrument [Line Items]
Debt term			3 years
Principal amount \| ¥												¥ 14,400,000,000
Net proceeds yielded			$ 107,000,000
Yen Term Loan \| Tokyo Term Risk Free Rate
Debt Instrument [Line Items]
Basis spread on variable interest rate			0.65%
Euro Term Loan
Debt Instrument [Line Items]
Debt term		3 years
Principal amount		$ 275,000,000
Net proceeds yielded	$ 290,000,000
Euro Term Loan \| Euro Interbank Offered Rate
Debt Instrument [Line Items]
Basis spread on variable interest rate	0.55%
Revolving Credit Facility
Debt Instrument [Line Items]
Debt term										5 years
Term loan facility, aggregate amount							2,000,000,000			$ 2,000,000,000
Outstanding borrowings							$ 0			0
Line of Credit
Debt Instrument [Line Items]
Loss on extinguishment of debt											$ 94,400,000
Additional Paid-In Capital
Debt Instrument [Line Items]
Early extinguishment of 0.875% convertible senior notes due 2022					$ 11,600,000				$ (11,600,000)
Convertible Debt
Debt Instrument [Line Items]
Loss on extinguishment of debt										10,500,000
Interest expense										$ 2,100,000
Convertible Debt \| 0.875% senior convertible notes due 2022
Debt Instrument [Line Items]
Proceeds from the issuance of convertible notes						$ 1,400,000,000
Interest rate, stated percentage						0.875%	0.875%	0.875%	0.875%	0.875%	0.875%		0.875%
Carrying value						$ 1,300,000,000	$ 0			$ 0				1,152,000,000
Discount at issuance						$ 102,200,000
Effective interest rate						3.38%
Debt issuance costs						$ 24,300,000
Debt instrument, repurchased face amount					$ 281,000,000
Repayments of convertible debt				$ 1,200,000,000
Interest expense								$ 11,100,000			$ 23,300,000
Interest expense, debt								2,500,000		1,300,000	5,300,000
Amortization of debt issuance costs								1,500,000		$ 800,000	3,200,000
Amortization of debt discount								$ 7,100,000			$ 14,800,000
Convertible Debt \| Senior Unsecured Notes due 2022, Over-Allotment Option
Debt Instrument [Line Items]
Principal amount						$ 187,500,000
Commercial Paper \| U.S. dollar-denominated commercial paper
Debt Instrument [Line Items]
Debt term										32 days
Carrying value							$ 847,000,000			$ 847,000,000				$ 364,900,000
Effective interest rate							1.84%			1.84%
Commercial Paper \| U.S. dollar-denominated commercial paper \| Maximum
Debt Instrument [Line Items]
Debt term										397 days
Commercial Paper \| Euro-denominated commercial paper \| Maximum
Debt Instrument [Line Items]
Debt term										183 days

Financing and Capital - Outstan

Financing and Capital - Outstanding Paper Programs (Details) - USD ($) $ in Millions	6 Months Ended
	Jul. 01, 2022	Dec. 31, 2021
Short-term Debt [Line Items]
Carrying value	$ 3,682.1	$ 3,959
U.S. dollar-denominated commercial paper \| Commercial Paper
Short-term Debt [Line Items]
Carrying value	$ 847	$ 364.9
Annual effective rate	1.84%
Debt term	32 days

Sales - Narrative (Details)

Sales - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
Sales - Narrative (Details) - USD ($) $ in Millions	Jul. 01, 2022	Jul. 01, 2022	Dec. 31, 2021
Capitalized Contract Cost [Line Items]
Contract assets	$ 83	$ 83	$ 71
Net revenue-related contract assets	33	33	$ 27
Contract liabilities, revenue recognized	$ 102	$ 256
Minimum
Capitalized Contract Cost [Line Items]
Useful life	3 years	3 years
Maximum
Capitalized Contract Cost [Line Items]
Useful life	8 years	8 years
Maximum \| Deferred Sales Commissions
Capitalized Contract Cost [Line Items]
Useful life	1 year	1 year

Sales - Contract liabilities (D

Sales - Contract liabilities (Details) - USD ($) $ in Millions	Jul. 01, 2022	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Deferred revenue - current	$ 479.8	$ 457.6
Deferred revenue - noncurrent	35.1	33.8
Total contract liabilities	$ 514.9	$ 491.4

Sales - Revenue, Remaining Perf

Sales - Revenue, Remaining Performance Obligation (Details) $ in Millions	Jul. 01, 2022 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 709.2
Intelligent Operating Solutions \| Operating Segments
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	585.9
Precision Technologies \| Operating Segments
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	47.2
Advanced Healthcare Solutions \| Operating Segments
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 76.1

Sales - Remaining Performance O

Sales - Remaining Performance Obligation, Expected Timing (Details) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-02	Jul. 01, 2022
Period One
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percentage	80%
Remaining performance obligation, expected timing	2 years
Period Two
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percentage	90%
Remaining performance obligation, expected timing	3 years
Period Three
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percentage	100%
Remaining performance obligation, expected timing	4 years

Sales - Disaggregation of Reven

Sales - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 01, 2022	Jul. 02, 2021	Jul. 01, 2022	Jul. 02, 2021
Disaggregation of Revenue [Line Items]
Total sales	$ 1,463.3	$ 1,319.7	$ 2,839.8	$ 2,578.9
Healthcare
Disaggregation of Revenue [Line Items]
Total sales	369.8	328.6	723.1	655.4
Industrial & Manufacturing
Disaggregation of Revenue [Line Items]
Total sales	341.9	312.1	663.8	614.4
Utilities & Power
Disaggregation of Revenue [Line Items]
Total sales	94	97.8	180.3	192.7
Government
Disaggregation of Revenue [Line Items]
Total sales	110.1	99	215.8	186.9
Communications, Electronics & Semiconductor
Disaggregation of Revenue [Line Items]
Total sales	102.1	97.6	189.9	185.4
Aerospace & Defense
Disaggregation of Revenue [Line Items]
Total sales	64.7	65.7	120.1	121.1
Oil & Gas
Disaggregation of Revenue [Line Items]
Total sales	68.6	66.7	133.4	130
Retail & Consumer
Disaggregation of Revenue [Line Items]
Total sales	84.4	44.6	165.6	90.1
Other
Disaggregation of Revenue [Line Items]
Total sales	158.5	137.3	312.4	262.2
Total direct sales
Disaggregation of Revenue [Line Items]
Total sales	1,394.1	1,249.4	2,704.4	2,438.2
Distributors
Disaggregation of Revenue [Line Items]
Total sales	69.2	70.3	135.4	140.7
Operating Segments \| Intelligent Operating Solutions
Disaggregation of Revenue [Line Items]
Total sales	630.1	541.8	1,217.7	1,052.7
Operating Segments \| Intelligent Operating Solutions \| Healthcare
Disaggregation of Revenue [Line Items]
Total sales	13.2	8.4	23.5	17.8
Operating Segments \| Intelligent Operating Solutions \| Industrial & Manufacturing
Disaggregation of Revenue [Line Items]
Total sales	227.4	200.7	438.5	397.2
Operating Segments \| Intelligent Operating Solutions \| Utilities & Power
Disaggregation of Revenue [Line Items]
Total sales	47.9	57.2	90.9	111.5
Operating Segments \| Intelligent Operating Solutions \| Government
Disaggregation of Revenue [Line Items]
Total sales	60.5	51.3	112.1	96.1
Operating Segments \| Intelligent Operating Solutions \| Communications, Electronics & Semiconductor
Disaggregation of Revenue [Line Items]
Total sales	26.3	32.8	50.1	60.3
Operating Segments \| Intelligent Operating Solutions \| Aerospace & Defense
Disaggregation of Revenue [Line Items]
Total sales	0.2	0	0.3	0
Operating Segments \| Intelligent Operating Solutions \| Oil & Gas
Disaggregation of Revenue [Line Items]
Total sales	65.8	64	128.1	124.5
Operating Segments \| Intelligent Operating Solutions \| Retail & Consumer
Disaggregation of Revenue [Line Items]
Total sales	60.6	18.7	124.3	42.2
Operating Segments \| Intelligent Operating Solutions \| Other
Disaggregation of Revenue [Line Items]
Total sales	90.1	71.7	177.6	127.8
Operating Segments \| Intelligent Operating Solutions \| Total direct sales
Disaggregation of Revenue [Line Items]
Total sales	592	504.8	1,145.4	977.4
Operating Segments \| Intelligent Operating Solutions \| Distributors
Disaggregation of Revenue [Line Items]
Total sales	38.1	37	72.3	75.3
Operating Segments \| Precision Technologies
Disaggregation of Revenue [Line Items]
Total sales	499.1	471.9	961.5	919.3
Operating Segments \| Precision Technologies \| Healthcare
Disaggregation of Revenue [Line Items]
Total sales	41.3	33.9	78.4	68.9
Operating Segments \| Precision Technologies \| Industrial & Manufacturing
Disaggregation of Revenue [Line Items]
Total sales	107.7	105.4	211.4	205.4
Operating Segments \| Precision Technologies \| Utilities & Power
Disaggregation of Revenue [Line Items]
Total sales	46.1	40.6	89.4	81.2
Operating Segments \| Precision Technologies \| Government
Disaggregation of Revenue [Line Items]
Total sales	41.4	37.9	86.1	72.3
Operating Segments \| Precision Technologies \| Communications, Electronics & Semiconductor
Disaggregation of Revenue [Line Items]
Total sales	75.4	64.3	138.8	123.9
Operating Segments \| Precision Technologies \| Aerospace & Defense
Disaggregation of Revenue [Line Items]
Total sales	64.5	65.7	119.8	121.1
Operating Segments \| Precision Technologies \| Oil & Gas
Disaggregation of Revenue [Line Items]
Total sales	2.8	2.7	5.3	5.5
Operating Segments \| Precision Technologies \| Retail & Consumer
Disaggregation of Revenue [Line Items]
Total sales	23.8	25.9	41.3	47.9
Operating Segments \| Precision Technologies \| Other
Disaggregation of Revenue [Line Items]
Total sales	68.4	65.6	134.7	134.4
Operating Segments \| Precision Technologies \| Total direct sales
Disaggregation of Revenue [Line Items]
Total sales	471.4	442	905.2	860.6
Operating Segments \| Precision Technologies \| Distributors
Disaggregation of Revenue [Line Items]
Total sales	27.7	29.9	56.3	58.7
Operating Segments \| Advanced Healthcare Solutions
Disaggregation of Revenue [Line Items]
Total sales	334.1	306	660.6	606.9
Operating Segments \| Advanced Healthcare Solutions \| Healthcare
Disaggregation of Revenue [Line Items]
Total sales	315.3	286.3	621.2	568.7
Operating Segments \| Advanced Healthcare Solutions \| Industrial & Manufacturing
Disaggregation of Revenue [Line Items]
Total sales	6.8	6	13.9	11.8
Operating Segments \| Advanced Healthcare Solutions \| Utilities & Power
Disaggregation of Revenue [Line Items]
Total sales	0	0	0	0
Operating Segments \| Advanced Healthcare Solutions \| Government
Disaggregation of Revenue [Line Items]
Total sales	8.2	9.8	17.6	18.5
Operating Segments \| Advanced Healthcare Solutions \| Communications, Electronics & Semiconductor
Disaggregation of Revenue [Line Items]
Total sales	0.4	0.5	1	1.2
Operating Segments \| Advanced Healthcare Solutions \| Aerospace & Defense
Disaggregation of Revenue [Line Items]
Total sales	0	0	0	0
Operating Segments \| Advanced Healthcare Solutions \| Oil & Gas
Disaggregation of Revenue [Line Items]
Total sales	0	0	0	0
Operating Segments \| Advanced Healthcare Solutions \| Retail & Consumer
Disaggregation of Revenue [Line Items]
Total sales	0	0	0	0
Operating Segments \| Advanced Healthcare Solutions \| Other
Disaggregation of Revenue [Line Items]
Total sales	0	0	0.1	0
Operating Segments \| Advanced Healthcare Solutions \| Total direct sales
Disaggregation of Revenue [Line Items]
Total sales	330.7	302.6	653.8	600.2
Operating Segments \| Advanced Healthcare Solutions \| Distributors
Disaggregation of Revenue [Line Items]
Total sales	3.4	3.4	6.8	6.7
United States
Disaggregation of Revenue [Line Items]
Total sales	779	671.6	1,518.9	1,292.4
United States \| Operating Segments \| Intelligent Operating Solutions
Disaggregation of Revenue [Line Items]
Total sales	341.1	276.7	663	524.9
United States \| Operating Segments \| Precision Technologies
Disaggregation of Revenue [Line Items]
Total sales	249.6	236.3	483.6	455.4
United States \| Operating Segments \| Advanced Healthcare Solutions
Disaggregation of Revenue [Line Items]
Total sales	188.3	158.6	372.3	312.1
China
Disaggregation of Revenue [Line Items]
Total sales	182.7	163.5	328.1	327.8
China \| Operating Segments \| Intelligent Operating Solutions
Disaggregation of Revenue [Line Items]
Total sales	56.1	53.7	104	113.2
China \| Operating Segments \| Precision Technologies
Disaggregation of Revenue [Line Items]
Total sales	101.6	81.7	170.9	158.5
China \| Operating Segments \| Advanced Healthcare Solutions
Disaggregation of Revenue [Line Items]
Total sales	25	28.1	53.2	56.1
All other (each country individually less than 5% of total sales)
Disaggregation of Revenue [Line Items]
Total sales	501.6	484.6	992.8	958.7
All other (each country individually less than 5% of total sales) \| Operating Segments \| Intelligent Operating Solutions
Disaggregation of Revenue [Line Items]
Total sales	232.9	211.4	450.7	414.6
All other (each country individually less than 5% of total sales) \| Operating Segments \| Precision Technologies
Disaggregation of Revenue [Line Items]
Total sales	147.9	153.9	307	305.4
All other (each country individually less than 5% of total sales) \| Operating Segments \| Advanced Healthcare Solutions
Disaggregation of Revenue [Line Items]
Total sales	120.8	119.3	235.1	238.7
Sales of products and software
Disaggregation of Revenue [Line Items]
Total sales	1,229.4	1,136	2,382.1	2,213.2
Sales of products and software \| Operating Segments \| Intelligent Operating Solutions
Disaggregation of Revenue [Line Items]
Total sales	534.2	478.4	1,034.7	931.4
Sales of products and software \| Operating Segments \| Precision Technologies
Disaggregation of Revenue [Line Items]
Total sales	444.7	417.5	855.3	810.6
Sales of products and software \| Operating Segments \| Advanced Healthcare Solutions
Disaggregation of Revenue [Line Items]
Total sales	250.5	240.1	492.1	471.2
Sales of services
Disaggregation of Revenue [Line Items]
Total sales	233.9	183.7	457.7	365.7
Sales of services \| Operating Segments \| Intelligent Operating Solutions
Disaggregation of Revenue [Line Items]
Total sales	95.9	63.4	183	121.3
Sales of services \| Operating Segments \| Precision Technologies
Disaggregation of Revenue [Line Items]
Total sales	54.4	54.4	106.2	108.7
Sales of services \| Operating Segments \| Advanced Healthcare Solutions
Disaggregation of Revenue [Line Items]
Total sales	$ 83.6	$ 65.9	$ 168.5	$ 135.7

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		6 Months Ended
Income Taxes (Details)	Jul. 01, 2022	Jul. 02, 2021	Jul. 01, 2022	Jul. 02, 2021
Income Tax Disclosure [Abstract]
Effective tax rate (as a percent)	16.90%	12.30%	15.30%	10%

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details)	6 Months Ended
Stock-Based Compensation - Narrative (Details)	Jul. 01, 2022 shares
Share-Based Payment Arrangement [Abstract]
Shares of common stock reserved for issuance under the stock plan (in shares)	16,000,000
Remaining service period related to the awards	2 years

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock-Based Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 01, 2022	Jul. 02, 2021	Jul. 01, 2022	Jul. 02, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pretax compensation expense	$ 25.1	$ 20.2	$ 45	$ 36.8
Income tax benefit	(4.4)	(3.2)	(7.1)	(6.3)
Total stock-based compensation expense	20.7	17	37.9	30.5
Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pretax compensation expense	16	12.2	28.7	22.7
Income tax benefit	(3)	(1.9)	(4.7)	(3.8)
Total stock-based compensation expense	13	10.3	24	18.9
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pretax compensation expense	9.1	8	16.3	14.1
Income tax benefit	(1.4)	(1.3)	(2.4)	(2.5)
Total stock-based compensation expense	$ 7.7	$ 6.7	$ 13.9	$ 11.6

Stock-Based Compensation - Unre

Stock-Based Compensation - Unrecognized Compensation Cost (Details) $ in Millions	Jul. 01, 2022 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost	$ 171.7
Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost	109.8
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost	$ 61.9

Commitments and Contingencies -

Commitments and Contingencies - Rollforward of Accrued Warranty Liability (Details) $ in Millions	6 Months Ended
	Jul. 01, 2022 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Warranty period - minimum	90 days
Movement in Standard Product Warranty Accrual [Roll Forward]
Beginning balance	$ 25.2
Accruals for warranties issued during the period	6.8
Settlements made	(9.2)
Effect of foreign currency translation and other	(0.2)
Ending balance	$ 22.6

Commitment and Contingencies -

Commitment and Contingencies - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 01, 2022	Jul. 02, 2021	Jul. 01, 2022	Jul. 02, 2021
Commitments and Contingencies Disclosure [Abstract]
Operating lease cost	$ 14	$ 15	$ 29	$ 30
Cash paid for operating leases			26	28
ROU assets obtained in exchange for operating lease obligations			$ 6	$ 13

Net Earnings Per Share - Narrat

Net Earnings Per Share - Narrative (Details)		3 Months Ended	6 Months Ended
Net Earnings Per Share - Narrative (Details)	Jul. 01, 2021 shares	Jul. 01, 2022 USD ($) shares	Jul. 01, 2022 USD ($) shares	Jul. 02, 2021 shares	Feb. 17, 2022 shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Preferred stock, dividend rate (as a percent)	5%
Convertible preferred stock, conversion ratio	14.0978
Number of shares authorized to be repurchased (in shares)					20,000,000
Number of shares authorized to be repurchased \| $		$ 16,000,000	$ 16,000,000
Common Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Conversion of stock, common stock issued (in shares)	19,400,000
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)		7,700,000	7,500,000	200,000

Net Earnings Per Share - Earnin

Net Earnings Per Share - Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jul. 01, 2022	Jul. 02, 2021	Jul. 01, 2022	Jul. 02, 2021
Numerator
Net earnings from continuing operations	$ 173	$ 182	$ 338.1	$ 293.7
Mandatory convertible preferred stock cumulative dividends	0	(17.2)	0	(34.5)
Convertible note interest add-back (if converted method)	0	0	1.8	0
Diluted Net Earnings from Continuing Operations	$ 173	$ 164.8	$ 339.9	$ 259.2
Denominator
Weighted average common shares outstanding used in basic earnings per share (in shares)	357.4	339.4	358.3	339
Incremental common shares from:
Assumed exercise of dilutive options and vesting of dilutive stock awards (in shares)	2.4	3	2.7	3.1
Conversion of convertible notes (if converted method) (in shares)	0	0	3.2	0
Weighted average common shares outstanding used in diluted earnings per share (in shares)	359.8	342.4	364.2	342.1
Net earnings from continuing operations per common share - Basic (in dollars per share)	$ 0.48	$ 0.49	$ 0.94	$ 0.76
Net earnings from continuing operations per common share - Diluted (in dollars per share)	$ 0.48	$ 0.48	$ 0.93	$ 0.76

Net Earnings Per Share - Divide

Net Earnings Per Share - Dividends Declared and Paid (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended				6 Months Ended
	Jul. 01, 2022	Apr. 01, 2022	Jul. 02, 2021	Apr. 02, 2021	Jul. 01, 2022	Jul. 02, 2021
Earnings Per Share [Abstract]
Dividend per common share (in dollars per share)	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.14	$ 0.14
Amount, common shares	$ 24.9	$ 25.1	$ 23.7	$ 23.7	$ 50	$ 47.4
Dividend per MCPS (in dollars per share)	$ 0	$ 0	$ 12.5	$ 12.5	$ 0	$ 25
Amount, MCPS	$ 0	$ 0	$ 17.2	$ 17.3	$ 0	$ 34.5

Segment Information - Narrative

Segment Information - Narrative (Details)	6 Months Ended
Segment Information - Narrative (Details)	Jul. 01, 2022 segment
Segment Reporting [Abstract]
Number of operating segments	3

Segment Information - Detailed

Segment Information - Detailed Segment Data (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 01, 2022	Jul. 02, 2021	Jul. 01, 2022	Jul. 02, 2021
Segment Reporting Information [Line Items]
Total sales	$ 1,463.3	$ 1,319.7	$ 2,839.8	$ 2,578.9
Total Operating Profit	232.3	211.3	444.6	408.9
Russia exit and wind down costs	(16.2)	0	(16.2)	0
Interest expense, net	(21)	(25.2)	(39.8)	(52.9)
Loss on extinguishment of debt	0	0	0	(104.9)
Gain on investment in Vontier Corporation	0	0	0	57
Gain on litigation resolution	0	26	0	26
Other non-operating expense, net	(3.1)	(4.6)	(5.8)	(7.9)
Earnings from continuing operations before income taxes	208.2	207.5	399	326.2
Operating Segments \| Intelligent Operating Solutions
Segment Reporting Information [Line Items]
Total sales	630.1	541.8	1,217.7	1,052.7
Total Operating Profit	129.9	115.3	236.9	223.4
Operating Segments \| Precision Technologies
Segment Reporting Information [Line Items]
Total sales	499.1	471.9	961.5	919.3
Total Operating Profit	115.3	104.1	216.7	200
Operating Segments \| Advanced Healthcare Solutions
Segment Reporting Information [Line Items]
Total sales	334.1	306	660.6	606.9
Total Operating Profit	28.1	22.5	56.1	41.4
Operating Segments \| Russia exit and wind down costs
Segment Reporting Information [Line Items]
Total Operating Profit		0	(16.2)	0
Other
Segment Reporting Information [Line Items]
Total Operating Profit	$ (24.8)	$ (30.6)	$ (48.9)	$ (55.9)