Fortive (FTV) 10-Q30 Oct 242024 Q3 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	9 Months Ended
Cover Page - shares	Sep. 27, 2024	Oct. 25, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 27, 2024
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		346,949,274
Amendment flag	false
Document fiscal year focus	2024
Document fiscal period focus	Q3
Entity central index key	0001659166
Current fiscal year end date	--12-31
3.700% Notes due 2026
Document Information [Line Items]
Title of 12(b) Security	3.700% Notes due 2026
Trading Symbol	FTV26A
Security Exchange Name	NYSE
3.700% Notes due 2029
Document Information [Line Items]
Title of 12(b) Security	3.700% Notes due 2029
Trading Symbol	FTV29
Security Exchange Name	NYSE

Consolidated Condensed Balance

Consolidated Condensed Balance Sheets - USD ($) $ in Millions	Sep. 27, 2024	Dec. 31, 2023
Current assets:
Cash and equivalents	$ 811.3	$ 1,888.8
Accounts receivable less allowance for doubtful accounts of $29.4 and $39.2, respectively	912.2	960.8
Inventories:
Finished goods	225.6	214.1
Work in process	111.8	108.9
Raw materials	226.5	213.9
Inventories	563.9	536.9
Prepaid expenses and other current assets	347.8	285.1
Total current assets	2,635.2	3,671.6
Property, plant and equipment, net of accumulated depreciation of $816.6 and $809.0, respectively	425.1	439.8
Other assets	561	518.9
Goodwill	10,322.3	9,121.7
Other intangible assets, net	3,510	3,159.8
Total assets	17,453.6	16,911.8
Current liabilities:
Current portion of long-term debt	408.1	0
Trade accounts payable	623.8	608.6
Accrued expenses and other current liabilities	1,068.9	1,182.7
Total current liabilities	2,100.8	1,791.3
Other long-term liabilities	1,339.5	1,149
Long-term debt	3,451.8	3,646.2
Commitments and Contingencies (Note 9)
Equity:
Common stock: $0.01 par value, 2,000.0 shares authorized; 366.1 and 363.7 issued; 346.9 and 350.7 outstanding, respectively	3.7	3.6
Additional paid-in capital	3,982.1	3,851.3
Treasury shares, at cost	(1,142.8)	(715.8)
Retained earnings	8,046.1	7,505.9
Accumulated other comprehensive loss	(334.2)	(326.1)
Total Fortive stockholders’ equity	10,554.9	10,318.9
Noncontrolling interests	6.6	6.4
Total stockholders’ equity	10,561.5	10,325.3
Total liabilities and equity	$ 17,453.6	$ 16,911.8

Consolidated Condensed Balanc_2

Consolidated Condensed Balance Sheets (Parenthetical) - USD ($) $ in Millions	Sep. 27, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 29.4	$ 39.2
Accumulated depreciation	$ 816.6	$ 809
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)	366,100,000	363,700,000
Common stock, shares outstanding (in shares)	346,900,000	350,700,000

Consolidated Condensed Statemen

Consolidated Condensed Statements of Earnings - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 27, 2024	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023
Total sales	$ 1,534.6	$ 1,494.5	$ 4,611.5	$ 4,481.6
Total cost of sales	(613.3)	(601.5)	(1,857.7)	(1,835)
Gross profit	921.3	893	2,753.8	2,646.6
Operating costs:
Selling, general and administrative expenses	(524.1)	(503.5)	(1,610.5)	(1,525.2)
Research and development expenses	(101.7)	(98.4)	(306.9)	(298.6)
Gain on sale of property	0	0	63.1	0
Operating profit	295.5	291.1	899.5	822.8
Non-operating income (expense), net:
Interest expense, net	(37)	(29.8)	(119.7)	(95)
Loss from divestiture	0	0	(25.6)	0
Other non-operating expense, net	(26.3)	(4.2)	(59.3)	(14.5)
Earnings before income taxes	232.2	257.1	694.9	713.3
Income taxes	(10.6)	(39.1)	(70.8)	(112.7)
Net earnings	$ 221.6	$ 218	$ 624.1	$ 600.6
Net earnings per share:
Basic (in dollars per share)	$ 0.63	$ 0.62	$ 1.78	$ 1.70
Diluted (in dollars per share)	$ 0.63	$ 0.61	$ 1.76	$ 1.69
Average common stock and common equivalent shares outstanding:
Basic (in shares)	349.2	352.1	350.7	352.9
Diluted (in shares)	352.3	356.1	354.4	356
Sales of products and software
Total sales	$ 1,293.4	$ 1,258.9	$ 3,902.2	$ 3,786.3
Total cost of sales	(484.7)	(479)	(1,476.9)	(1,464.2)
Sales of services
Total sales	241.2	235.6	709.3	695.3
Total cost of sales	$ (128.6)	$ (122.5)	$ (380.8)	$ (370.8)

Consolidated Condensed Statem_2

Consolidated Condensed Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 27, 2024	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023
Statement of Comprehensive Income [Abstract]
Net earnings	$ 221.6	$ 218	$ 624.1	$ 600.6
Other comprehensive income (loss), net of income taxes:
Foreign currency translation adjustments	89.3	(46)	(8.3)	(40)
Pension adjustments	0.1	0.1	0.2	(0.1)
Total other comprehensive income (loss), net of income taxes	89.4	(45.9)	(8.1)	(40.1)
Comprehensive income	$ 311	$ 172.1	$ 616	$ 560.5

Consolidated Condensed Statem_3

Consolidated Condensed Statements of Changes in Equity - USD ($) $ in Millions	Total	Common Stock	Additional Paid-In Capital	Treasury Shares	Retained Earnings	Accumulated Other Comprehensive Loss	Noncontrolling Interests
Beginning balance (in shares) at Dec. 31, 2022		352,900,000
Beginning balance at Dec. 31, 2022		$ 3.6	$ 3,706.3	$ (442.9)	$ 6,742.1	$ (325.7)	$ 5.2
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings for the period					173.6
Dividends to common shareholders	$ (24.7)				(24.7)
Other comprehensive income (loss)						13.4
Common stock-based award activity (in shares)		800,000
Common stock-based award activity			36.3
Shares withheld for taxes (in shares)		(200,000)
Shares withheld for taxes			(12.1)
Change in noncontrolling interests							0.6
Ending balance (in shares) at Mar. 31, 2023		353,500,000
Ending balance at Mar. 31, 2023		$ 3.6	3,730.5	(442.9)	6,891	(312.3)	5.8
Beginning balance (in shares) at Dec. 31, 2022		352,900,000
Beginning balance at Dec. 31, 2022		$ 3.6	3,706.3	(442.9)	6,742.1	(325.7)	5.2
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings for the period	600.6
Dividends to common shareholders	(73.9)
Other comprehensive income (loss)	(40.1)
Ending balance (in shares) at Sep. 29, 2023		351,400,000
Ending balance at Sep. 29, 2023		$ 3.6	3,822	(650.8)	7,268.8	(365.8)	5.8
Beginning balance (in shares) at Mar. 31, 2023		353,500,000
Beginning balance at Mar. 31, 2023		$ 3.6	3,730.5	(442.9)	6,891	(312.3)	5.8
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings for the period					209
Dividends to common shareholders	(24.6)				(24.6)
Other comprehensive income (loss)						(7.6)
Common stock-based award activity (in shares)		500,000
Common stock-based award activity			52.3
Common stock repurchases (in shares)		(2,000,000)
Common stock repurchases				(129.1)
Shares withheld for taxes (in shares)		(100,000)
Shares withheld for taxes			(4.1)
Change in noncontrolling interests							0.2
Ending balance (in shares) at Jun. 30, 2023		351,900,000
Ending balance at Jun. 30, 2023		$ 3.6	3,778.7	(572)	7,075.4	(319.9)	6
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings for the period	218				218
Dividends to common shareholders	(24.6)				(24.6)
Other comprehensive income (loss)	$ (45.9)					(45.9)
Common stock-based award activity (in shares)		700,000
Common stock-based award activity			54.8
Common stock repurchases (in shares)		(1,000,000)
Common stock repurchases				(78.8)
Shares withheld for taxes (in shares)		(200,000)
Shares withheld for taxes			(11.5)
Change in noncontrolling interests							(0.2)
Ending balance (in shares) at Sep. 29, 2023		351,400,000
Ending balance at Sep. 29, 2023		$ 3.6	3,822	(650.8)	7,268.8	(365.8)	5.8
Beginning balance (in shares) at Dec. 31, 2023	350,700,000	350,700,000
Beginning balance at Dec. 31, 2023	$ 10,325.3	$ 3.6	3,851.3	(715.8)	7,505.9	(326.1)	6.4
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings for the period					207.4
Dividends to common shareholders	$ (28.1)				(28.1)
Other comprehensive income (loss)						(76.4)
Common stock-based award activity (in shares)		1,500,000
Common stock-based award activity		$ 0.1	73.2
Shares withheld for taxes (in shares)		(200,000)
Shares withheld for taxes			(18.4)
Ending balance (in shares) at Mar. 29, 2024		352,000,000
Ending balance at Mar. 29, 2024		$ 3.7	3,906.1	(715.8)	7,685.2	(402.5)	6.4
Beginning balance (in shares) at Dec. 31, 2023	350,700,000	350,700,000
Beginning balance at Dec. 31, 2023	$ 10,325.3	$ 3.6	3,851.3	(715.8)	7,505.9	(326.1)	6.4
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings for the period	624.1
Dividends to common shareholders	(83.9)
Other comprehensive income (loss)	$ (8.1)
Ending balance (in shares) at Sep. 27, 2024	346,900,000	346,900,000
Ending balance at Sep. 27, 2024	$ 10,561.5	$ 3.7	3,982.1	(1,142.8)	8,046.1	(334.2)	6.6
Beginning balance (in shares) at Mar. 29, 2024		352,000,000
Beginning balance at Mar. 29, 2024		$ 3.7	3,906.1	(715.8)	7,685.2	(402.5)	6.4
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings for the period					195.1
Dividends to common shareholders	(28)				(28)
Other comprehensive income (loss)						(21.1)
Common stock-based award activity (in shares)		300,000
Common stock-based award activity			35
Common stock repurchases (in shares)		(2,000,000)
Common stock repurchases				(154.6)
Shares withheld for taxes			3.8
Change in noncontrolling interests							0.1
Ending balance (in shares) at Jun. 28, 2024		350,300,000
Ending balance at Jun. 28, 2024		$ 3.7	3,937.3	(870.4)	7,852.3	(423.6)	6.5
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings for the period	221.6				221.6
Dividends to common shareholders	(27.8)				(27.8)
Other comprehensive income (loss)	$ 89.4					89.4
Common stock-based award activity (in shares)		500,000
Common stock-based award activity			49.1
Common stock repurchases (in shares)		(3,800,000)
Common stock repurchases				(272.4)
Shares withheld for taxes (in shares)	(100,000)
Shares withheld for taxes			(4.3)
Change in noncontrolling interests							0.1
Ending balance (in shares) at Sep. 27, 2024	346,900,000	346,900,000
Ending balance at Sep. 27, 2024	$ 10,561.5	$ 3.7	$ 3,982.1	$ (1,142.8)	$ 8,046.1	$ (334.2)	$ 6.6

Consolidated Condensed Statem_4

Consolidated Condensed Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 27, 2024	Sep. 29, 2023
Cash flows from operating activities:
Net earnings	$ 624.1	$ 600.6
Noncash items:
Amortization	340.4	277.2
Depreciation	68.7	63.9
Stock-based compensation	81	85.2
Gain on sale of property	(63.1)	0
Loss from divestiture	25.6	0
Loss from equity investments	39.4	12.9
Change in trade accounts receivable, net	64.6	25
Change in inventories	4.3	(21.7)
Change in trade accounts payable	10.6	(45.7)
Change in prepaid expenses and other assets	(57)	(45.8)
Change in accrued expenses and other liabilities	(114)	(44.8)
Net cash provided by operating activities	1,024.6	906.8
Cash flows from investing activities:
Cash paid for acquisitions, net of cash received	(1,721.8)	(57.7)
Payments for additions to property, plant and equipment	(83.4)	(73.7)
Proceeds from sale of property	21	7.2
Cash infusion into divestiture	(14)	0
All other investing activities	(1.6)	0
Net cash used in investing activities	(1,799.8)	(124.2)
Cash flows from financing activities:
Net proceeds from (repayments of) commercial paper borrowings	(571.2)	(252.6)
Proceeds from borrowings (maturities greater than 90 days), net of issuance costs	1,733.5	0
Repayment of borrowings (maturities greater than 90 days)	(1,000)	(250)
Repurchase of common shares	(423)	(207.9)
Payment of dividends	(83.9)	(73.9)
All other financing activities	47.9	18.1
Net cash used in financing activities	(296.7)	(766.3)
Effect of exchange rate changes on cash and equivalents	(5.6)	(11.4)
Net change in cash and equivalents	(1,077.5)	4.9
Beginning balance of cash and equivalents	1,888.8	709.2
Ending balance of cash and equivalents	$ 811.3	$ 714.1

BUSINESS OVERVIEW

BUSINESS OVERVIEW	9 Months Ended
BUSINESS OVERVIEW	Sep. 27, 2024
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 (“IOS”), Precision Technologies (“PT”), and Advanced Healthcare Solutions (“AHS”) - 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 unaudited 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, 2023 and the footnotes (“Notes”) thereto included within our 2023 Annual Report on Form 10-K. In our opinion, the accompanying financial statements contain all adjustments, which consist of only normal, recurring accruals necessary to fairly present our financial position, results of operations, comprehensive income, stockholders’ equity, and cash flows for the periods presented. The results of operations for the three and nine months ended September 27, 2024, are not necessarily indicative of the results for the full year. Reclassification of certain prior year amounts in the Consolidated Condensed Statements of Cash Flows have been made to conform to current year presentation. Pending Separation Into Two Independent, Publicly Traded Companies On September 4, 2024, we announced our intention to separate into two independent, publicly traded companies (the “Separation”). The Separation will create (i) a technology solutions company, retaining the Fortive name, with a portfolio of the brands currently operating under Fortive’s IOS and AHS business segments, focused on resilient, high-quality recurring growth by delivering productivity, safety, and reliability value to customers, and (ii) a global industrial company (“NewCo”) consisting of our brands currently operating under the PT segment with a focus on powerful secular growth trends by leveraging mission critical technologies in test and measurement, specialty sensors, and aerospace and defense subsystems. The Separation is expected to be structured in a tax-free manner for Fortive shareholders. The Company is targeting to complete the Separation by the fourth quarter of 2025, subject to the satisfaction of certain conditions, including, among others, final approval of Fortive’s Board of Directors, satisfactory completion of financing, receipt of a favorable opinion of legal counsel and/or a private letter ruling from the U.S. Internal Revenue Service with respect to the tax treatment of the transaction for U.S. federal income tax purposes, the effectiveness of a Form 10 registration statement filed with the SEC, and other regulatory approvals. All assets, liabilities, revenues and expenses of NewCo are included in the consolidated results of the Company in the accompanying consolidated condensed financial statements. Segment Realignment and Divestiture In January 2024, we realigned Invetech from the AHS segment to the PT segment (the “Segment Realignment”) based on our strategic decision to divest the equipment design and manufacturing businesses of Invetech, while retaining the motion solution businesses (the “Motion Solution Business”) that are more closely aligned with the PT segment than the AHS segment. Prior period segment amounts in Note 3, 6, and 11 have been recast to conform to the revised segment presentation. In June 2024, we divested and transferred ownership of Invetech, excluding the Motion Solution Business, to its management team (the “Invetech Divestiture”). As a result of the divestiture, in the nine-month period ended September 27, 2024, we recorded a net realized loss of $25.6 million, which is identified as “Loss from divestiture” in the Consolidated Condensed Statements of Earnings. The divested businesses accounted for less than 1.0% of total revenue and less than 1.0% of total assets for the fiscal year ended December 31, 2023. The Invetech Divestiture did not represent a strategic shift with a major effect on the Company’s operations and financial results, and therefore the divested businesses are not reported as discontinued operations. Accumulated Other Comprehensive Loss Foreign currency translation adjustments are generally not adjusted for income taxes as they relate to indefinite investments in non-U.S. subsidiaries. As of September 27, 2024, our outstanding €500 million Euro-denominated senior unsecured notes due 2026, €700 million Euro-denominated senior unsecured notes due 2029, €275 million Euro-denominated term loan, and ¥14.4 billion Yen-denominated term loan were designated as net investment hedges of our investment in applicable foreign operations. We recognized after-tax foreign currency transaction losses of $59.7 million and gains of $9.6 million during the three-month periods ended September 27, 2024 and September 29, 2023, respectively, and losses of $38.3 million and gains of $13.0 million during the nine-month periods ended September 27, 2024 and September 29, 2023, respectively, on the debt that was deferred in the foreign currency translation component of Accumulated Other Comprehensive Income (Loss) (“AOCI”) as an offset to the foreign currency translation adjustments on our investments in foreign subsidiaries. Any amounts deferred in AOCI will remain until the hedged investment is sold or substantially liquidated. We recorded no ineffectiveness from our net investment hedges during the three and nine-month periods ended September 27, 2024 and September 29, 2023. The changes in AOCI by component are summarized below ($ in millions): Foreign Pension & post-retirement plan benefit adjustments (a) Total For the Three Months Ended September 27, 2024: Balance, June 28, 2024 $ (389.3) $ (34.3) $ (423.6) Other comprehensive income (loss) before reclassifications, net of income taxes 89.3 — 89.3 Amounts reclassified from AOCI into income: Increase (decrease) — 0.1 (b) 0.1 Income tax impact — — — Amounts reclassified from AOCI into income, net of income taxes — 0.1 0.1 Net current period other comprehensive income (loss), net of income taxes 89.3 0.1 89.4 Balance, September 27, 2024 $ (300.0) $ (34.2) $ (334.2) For the Three Months Ended September 29, 2023: Balance, June 30, 2023 $ (295.4) $ (24.5) $ (319.9) Other comprehensive income (loss) before reclassifications, net of income taxes (46.0) (0.4) (46.4) Amounts reclassified from AOCI into income: Increase (decrease) — 0.6 (b) 0.6 Income tax impact — (0.1) (0.1) Amounts reclassified from AOCI into income, net of income taxes — 0.5 0.5 Net current period other comprehensive income (loss), net of income taxes (46.0) 0.1 (45.9) Balance, September 29, 2023 $ (341.4) $ (24.4) $ (365.8) (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 11 in our 2023 Annual Report on Form 10-K for additional details). Foreign Pension & post-retirement plan benefit adjustments (a) Total For the Nine Months Ended September 27, 2024: Balance, December 31, 2023 $ (291.7) $ (34.4) $ (326.1) Other comprehensive income (loss) before reclassifications, net of income taxes (15.3) — (15.3) Amounts reclassified from AOCI into income: Increase (decrease) 7.0 (b) 0.3 (c) 7.3 Income tax impact — (0.1) (0.1) Amounts reclassified from AOCI into income, net of income taxes 7.0 0.2 7.2 Net current period other comprehensive income (loss) (8.3) 0.2 (8.1) Balance, September 27, 2024 $ (300.0) $ (34.2) $ (334.2) For the Nine Months Ended September 29, 2023: Balance, December 31, 2022 $ (301.4) $ (24.3) $ (325.7) Other comprehensive income (loss) before reclassifications, net of income taxes (40.0) (0.4) (40.4) Amounts reclassified from AOCI into income: Increase (decrease) — 0.2 (c) 0.2 Income tax impact — 0.1 0.1 Amounts reclassified from AOCI into income, net of income taxes — 0.3 0.3 Net current period other comprehensive income (loss) (40.0) (0.1) (40.1) Balance, September 29, 2023 $ (341.4) $ (24.4) $ (365.8) (a) Includes balances relating to defined benefit plans, supplemental executive retirement plans, and other postretirement employee benefit plans. (b) This amount relates to the cumulative translation adjustment recognized in earnings upon the Invetech Divestiture. Refer to Note 1 for additional details. (c) This component of AOCI is included in the computation of net periodic pension cost (refer to Note 11 in our 2023 Annual Report on Form 10-K for additional details). Allowances for Doubtful Accounts All trade accounts and unbilled receivables are recorded in the Consolidated Condensed Balance Sheets 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. During the three and nine-month periods ending September 27, 2024 and September 29, 2023, the activity was immaterial. Property Sale On March 14, 2024, we sold land and certain office buildings in our PT segment for $90 million, for which we received $20 million in cash proceeds and a $70 million promissory note secured by a letter of credit. We received $10 million of principal in August and the remaining is due in November 2024. The promissory note is recorded within Prepaid expenses and other current assets. During the nine-month period ended September 27, 2024, we recorded a gain on sale of property of $63.1 million in the Consolidated Condensed Statements of Earnings. Concurrently, using a portion of the proceeds from the property sale, we entered into an arm’s length transaction with the Fortive Foundation (the “Foundation”), pledging a charitable contribution of $20 million, which had no donor imposed conditions or restrictions. The Foundation, a not-for-profit entity established to expand our philanthropic efforts, is a related party due to certain Fortive executives serving as members of the entity’s board of directors. The charitable contribution is recorded within the “Other non-operating expense, net” line in the Consolidated Condensed Statements of Earnings. In the third quarter of 2024, $20 million of the promissory note due in November 2024 was reassigned to the Foundation. Restructuring We initiated a discrete restructuring plan in the first quarter of 2023 that was completed during the fourth quarter of 2023. The nature of these activities were broadly consistent throughout our segments and consisted primarily of targeted workforce reductions in response to overall macroeconomic and other external conditions. We incurred these costs to position ourselves to provide superior products and services to customers in a cost-efficient manner, while taking into consideration the impact of broad economic uncertainties. During the three and nine-month periods ended September 29, 2023, we incurred charges of $0.9 million and $29.2 million, respectively. These charges are recorded within Cost of sales and Selling, general, and administrative expenses in the Consolidated Condensed Statements of Earnings. Accrued restructuring costs were immaterial as of September 27, 2024 and were $26 million as of December 31, 2023, and are recorded within Accrued expenses and other current liabilities in the Consolidated Condensed Balance Sheets. Recently Issued Accounting Standard In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2023-07, Segment Reporting (Topic 280)—Improvements to Reportable Segment Disclosures , which amends the disclosure requirements for reportable segments on the interim and annual basis. This standard is effective for fiscal year ending December 31, 2024 and interim periods within fiscal year ending December 31, 2025. The adoption of the standard will not impact our consolidated financial statements; however, we are currently evaluating the impact of the new disclosure requirements on the notes to the financial statements. Upon adoption, we will update the applicable interim and annual disclosures to align with the new standard. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740) —Improvements to Income Tax Disclosures

ACQUISITIONS

ACQUISITIONS	9 Months Ended
ACQUISITIONS	Sep. 27, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
ACQUISITIONS	NOTE 2. ACQUISITIONS We continually evaluate potential mergers and acquisitions that align with our business portfolio strategy. 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 when the purchase price for an acquired business exceeds its identifiable assets, net of liabilities. The purchase price for acquired businesses reflect a number of factors, including the future earnings and cash flow potential of the business, the strategic fit and resulting synergies from the complementary portfolio of the acquired business to our existing operations, industry expertise, and market access. The purchase price allocations for the acquisition in 2024 and the fourth quarter of 2023 are provisional and subject to further adjustments as we finalize the measurement of the acquired tangible and intangible assets and liabilities, as well as the associated income tax considerations. The preliminary fair value of the net assets acquired was based on estimates and assumptions. Significant assumptions include the discount rates and certain assumptions that form the basis of the forecasted results of the acquired business including earnings before interest and amortization (“EBITDA”), revenue growth rates, royalty rates and attrition rates. As additional information necessary to complete the valuation is obtained and analyzed, we will make appropriate adjustments to purchase price allocations prior to completion of the applicable measurement period, as required and as soon as practicable. During the three and nine-month periods ended September 27, 2024, immaterial adjustments were made to the purchase price allocation of prior year acquisitions. 2024 On January 3, 2024, we acquired EA Elektro-Automatik Holding GmbH (“EA”), a leading supplier of high-power electronic test solutions for energy storage, mobility, hydrogen, and renewable energy applications. The acquisition of EA will bolster our innovative portfolio of products and services for engineers with complementary test and measurement solutions enabling the global energy transition. The total consideration paid was approximately $1.72 billion, net of acquired cash. We funded this transaction with financing activities and available cash. We recorded approximately $1.17 billion of goodwill within our PT segment related to the EA acquisition, which is not tax deductible. For the three and nine-month periods ended September 27, 2024, we incurred approximately $1.9 million and $29.3 million, respectively, of pretax transaction-related costs related to the EA acquisition, which were primarily for banking fees, legal fees, and amounts paid to other third-party advisers. These costs were recorded within Selling, general, and administrative expenses in the Consolidated Condensed Statement of Earnings. The following table summarizes the preliminary estimated acquisition date fair values of the assets acquired and liabilities assumed as of September 27, 2024 ($ in millions): Total Accounts receivable $ 19.6 Inventories 35.6 Property, plant and equipment 19.7 Goodwill 1,172.6 Other intangible assets (customer relationships, technology, and trade names) 681.2 Deferred tax liabilities (189.1) Other assets and liabilities, net (21.4) Net cash consideration $ 1,718.2 2023

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	9 Months Ended
GOODWILL AND OTHER INTANGIBLE ASSETS	Sep. 27, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS	NOTE 3. GOODWILL AND OTHER INTANGIBLE ASSETS 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, 2023 $ 4,148.9 $ 1,856.5 $ 3,116.3 $ 9,121.7 Measurement period adjustments for prior year acquisitions 0.6 — — 0.6 Attributable to acquisitions — 1,172.6 — 1,172.6 Foreign currency translation and other 10.9 19.5 (3.0) 27.4 Balance, September 27, 2024 $ 4,160.4 $ 3,048.6 $ 3,113.3 $ 10,322.3 Due to the Segment Realignment, the beginning goodwill balances for PT and AHS have been recast to conform to the revised segment presentation. Refer to Note 1 for further information on the realignment. Refer to Note 2 for more information related to goodwill attributable to acquisitions. The following summarizes the gross carrying value and accumulated amortization for each major category of intangible asset ($ in millions): September 27, 2024 December 31, 2023 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Finite-lived intangibles: Patents and technology $ 1,286.1 $ (788.4) $ 1,139.6 $ (687.1) Customer relationships and other intangibles 4,055.9 (1,799.9) 3,568.0 (1,573.2) Trademarks and trade names 176.8 (31.1) 117.7 (19.8) Total finite-lived intangibles 5,518.8 (2,619.4) 4,825.3 (2,280.1) Indefinite-lived intangibles: Trademarks and trade names 610.6 — 614.6 — Total intangibles $ 6,129.4 $ (2,619.4) $ 5,439.9 $ (2,280.1) Finite-lived intangible assets are amortized over the shorter of their legal or estimated useful lives. During the nine-month period ended September 27, 2024, we acquired finite-lived intangible assets, consisting of customer relationships, developed technology, and trade names, with a weighted average life of approximatelynine years as a result of the EA acquisition. Refer to Note 2 for additional information on the intangible assets acquired.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
FAIR VALUE MEASUREMENTS	Sep. 27, 2024
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 for assets and liabilities required to be carried at fair value, and provide for certain disclosures related to the valuation methods used within the 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. A financial asset or liability’s classification 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 September 27, 2024 Deferred compensation liabilities $ — $ 46.8 $ — $ 46.8 December 31, 2023 Deferred compensation liabilities — 39.9 — 39.9 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 recorded within Other long-term liabilities in the accompanying Consolidated Condensed Balance Sheets. Participants may choose among alternative earning 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 and are recorded within Selling, general and administrative expenses in the Consolidated Condensed Statements of Earnings. Non-recurring 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 three and nine-month periods ended September 27, 2024, and recorded no material impairments. During the three-month periods ended September 27, 2024 and September 29, 2023, we recorded a loss from equity investments of $26.1 million and $3.8 million, respectively. During the nine-month periods ended September 27, 2024 and September 29, 2023, we recorded a loss from equity investments of $39.4 million and $12.9 million, respectively. The loss was recorded within Other non-operating expense, net in our Consolidated Condensed Statement of Earnings. Fair Value of Financial Instruments The carrying amount and fair value of financial instruments are as follows ($ in millions): September 27, 2024 December 31, 2023 Carrying Amount Fair Value Carrying Amount Fair Value Current portion of long-term debt $ 408.1 $ 408.3 $ — $ — Long-term debt, net of current maturities 3,451.8 3,407.3 3,646.2 3,539.4 As of September 27, 2024 and December 31, 2023, the current portion of long-term debt and long-term debt, net of current maturities were categorized as Level 1. The fair value of the 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 equivalents, trade accounts receivable, net, trade accounts payable, and commercial paper approximates their carrying amount due to the short-term maturities of these instruments.

FINANCING

FINANCING	9 Months Ended
FINANCING	Sep. 27, 2024
Debt Disclosure [Abstract]
FINANCING	NOTE 5. FINANCING The components of our debt were as follows ($ in millions): September 27, 2024 December 31, 2023 U.S. dollar-denominated commercial paper $ 675.0 $ 1,251.2 3.7% Euro-denominated senior unsecured notes due 2026 558.1 — 3.7% Euro-denominated senior unsecured notes due 2029 781.3 — Euro Term Loan due 2025 307.0 303.6 Yen Term Loan due 2025 101.3 102.1 3.15% senior unsecured notes due 2026 900.0 900.0 4.30% senior unsecured notes due 2046 550.0 550.0 Delayed-Draw Term Loan due 2024 — 550.0 Long-term debt, principal amounts 3,872.7 3,656.9 Less: aggregate unamortized debt discounts, premiums, and issuance costs 12.8 10.7 Long-term debt, carrying value 3,859.9 3,646.2 Less: current portion of long-term debt, carrying value 408.1 — Long-term debt, net of current maturities $ 3,451.8 $ 3,646.2 Refer to Note 10 of our 2023 Annual Report on Form 10-K for further details of our debt financing. Euro-denominated Senior Unsecured Notes Due 2026 and 2029 On February 13, 2024, we completed the registered offering of the following Euro-denominated senior unsecured notes: • €500 million in aggregate principal amount of our 3.7% Euro-denominated senior unsecured notes due 2026 (the “2026 Notes”) issued at 99.928% of their principal amount and bearing interest at 3.7% per annum. The 2026 Notes mature on February 13, 2026 with interest payable in arrears on February 13 of each year, beginning in 2025. • €700 million in aggregate principal amount of our 3.7% Euro-denominated senior unsecured notes due 2029 (the “2029 Notes”) issued at 99.943% of their principal amount and bearing interest at 3.7% per annum. The 2029 Notes mature on August 15, 2029 with interest payable in arrears on August 15 of each year, beginning in 2024. The net proceeds from the offering, after underwriting discounts and commissions and offering expenses, were approximately $1.3 billion based on the currency exchange rates at which the Euro denominated proceeds were converted into U.S. dollars. We used the net proceeds to refinance the $1.0 billion outstanding principal of the Delayed-Draw Term Loan Due 2024, refinance borrowings under the U.S. dollar-denominated commercial paper, and for general corporate purposes. Redemption Provisions and Covenants Applicable to 2026 and 2029 Notes Prior to July 15, 2029 for the 2029 Notes, and prior to maturity for the 2026 Notes, we may redeem the applicable series of notes at our option, in whole or in part, at any time and from time to time, at the applicable make-whole redemption price specified in the indentures. On or after July 15, 2029, we may redeem the 2029 Notes, in whole or in part, at any time and from time to time, at a redemption price equal to 100% of the principal amount of the 2029 Notes being redeemed plus accrued and unpaid interest thereon to, but not including, the redemption date. We may, at our option, redeem the applicable series of notes, in whole but not in part, at a redemption price equal to 100% of the principal amount of such series of notes to be redeemed, together with any accrued and unpaid interest thereon to, but not including, the redemption date, at any time, if as a result of any change in, or amendment to, the laws, regulations, treaties, or rulings of the United States or any political subdivision of or in the United States or any taxing authority thereof or therein affecting taxation, or any change in, or amendment to, the application, official interpretation, administration or enforcement of such laws, regulations, treaties or rulings (including a holding by a court of competent jurisdiction in the United States), which change or amendment is enacted, adopted, announced or become effective, we become or, based upon a written opinion of independent counsel selected by us, will become obligated to pay additional amounts with respect to the applicable series of notes. If a change of control triggering event occurs, we will, in certain circumstances, be required to make an offer to repurchase the notes from each holder at a purchase price equal to 101% of the principal amount of the notes being repurchased, plus accrued and unpaid interest to, but not including the repurchase date. A change of control triggering event is defined as the occurrence of both a change of control and a rating event, each as defined in the indentures. Except in connection with a change of control triggering event, the 2026 Notes and 2029 Notes do not have any credit rating downgrade triggers that would accelerate the maturity of the notes. The 2026 Notes and 2029 Notes contain customary covenants. None of these covenants are considered restrictive to our operations and as of September 27, 2024, we were in compliance with all of our covenants. Delayed-Draw Term Loan due 2024 On January 2, 2024, we drew down an additional $450 million of the Delayed-Draw Term Loan due 2024 as part of the funding for the acquisition of EA, with $1.0 billion outstanding immediately following such additional draw. Refer to Note 2 for additional information regarding the EA acquisition. On February 13, 2024, we used the net proceeds from the 2026 Notes and 2029 Notes to refinance the entire $1.0 billion outstanding principal and accrued interest thereon. Other Liquidity Sources We generally satisfy any short-term liquidity needs that are not met through operating cash flows and available cash primarily through issuances of commercial paper under our U.S. dollar and Euro-denominated commercial paper programs (“Commercial Paper Programs”). Under these programs, we may issue unsecured promissory notes with maturities not exceeding 397 and 183 days, respectively. Interest expense on commercial paper is paid at maturity and is generally based on our credit ratings at the time of issuance and prevailing short-term interest rates. The details of our outstanding Commercial Paper Programs as of September 27, 2024 were as follows ($ in millions): Carrying value (a) Annual effective rate Weighted average maturity (in days) U.S. dollar-denominated commercial paper $ 673.6 5.28 % 30 (a) Net of unamortized debt discount. Credit support for the Commercial Paper Programs is provided by a five-year $2.0 billion senior unsecured revolving credit facility that expires on October 18, 2027 (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 September 27, 2024, 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.

SALES

SALES	9 Months Ended
SALES	Sep. 27, 2024
Revenue from Contract with Customer [Abstract]
SALES	NOTE 6. SALES We derive revenue primarily from the sales of products, including 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 software as a service (“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, services related to previously sold products, and software implementation services. 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 $121 million as of September 27, 2024 and $108 million as of December 31, 2023. Contract assets are recorded within Prepaid expenses and other current assets in our Consolidated Condensed Balance Sheets. Contract Costs — We incur and capitalize incremental costs to obtain certain contracts, typically sales-related commissions where the amortization period is greater than one year and costs associated with assets used by our customers in certain service arrangements. As of September 27, 2024 and December 31, 2023, we had $59 million and $51 million, respectively, in net revenue-related contract costs primarily related to certain software contracts. Revenue-related contract costs are recorded within Other assets in our Consolidated Condensed Balance Sheets. These assets have estimated useful lives between three Contract Liabilities — Our contract liabilities consist of deferred revenue generally related to subscription-based software contracts, PCS and extended warranty sales, where we generally receive up-front payment and recognize revenue over the service or support term. We classify deferred revenue as current or noncurrent based on the timing of when we expect to recognize revenue. The current portion of deferred revenue is recorded within Accrued expenses and other current liabilities and the noncurrent portion of deferred revenue is recorded within Other long-term liabilities in our Consolidated Condensed Balance Sheets. Our contract liabilities consisted of the following ($ in millions): September 27, 2024 December 31, 2023 Deferred revenue - current $ 510.8 $ 544.6 Deferred revenue - noncurrent 48.7 45.8 Total contract liabilities $ 559.5 $ 590.4 During the three and nine-month periods ended September 27, 2024, we recognized revenue related to our contract liabilities at December 31, 2023 of $91 million and $408 million, respectively. The change in our contract liabilities from December 31, 2023 to September 27, 2024 was primarily due to the timing of billings and revenue recognized for subscription-based software contracts, PCS and extended warranty services. Remaining Performance Obligations — Our remaining performance obligations represent the transaction price of firm, non-cancelable orders and the average contract value for software contracts, for which work has not been performed. We have excluded performance obligations with an original expected duration of one year or less from the amounts below. The aggregate remaining performance obligations attributable to each of our segments is as follows ($ in millions): September 27, 2024 Intelligent Operating Solutions $ 593.5 Precision Technologies 59.7 Advanced Healthcare Solutions 75.3 Total remaining performance obligations $ 728.5 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 95 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. Due to the Segment Realignment, prior period segment amounts have been recast to conform to the revised segment presentation. Refer to Note 1 for further information on the realignment. Disaggregation of revenue for the three-month period ended September 27, 2024 is presented as follows ($ in millions): Total Intelligent Operating Solutions Precision Technologies Advanced Healthcare Solutions Sales: Sales of products and software $ 1,293.4 $ 549.4 $ 490.6 $ 253.4 Sales of services 241.2 111.8 60.3 69.1 Total $ 1,534.6 $ 661.2 $ 550.9 $ 322.5 Geographic: United States $ 841.9 $ 375.0 $ 282.8 $ 184.1 China 153.8 50.7 76.1 27.0 All other (each country individually less than 5% of total sales) 538.9 235.5 192.0 111.4 Total $ 1,534.6 $ 661.2 $ 550.9 $ 322.5 End markets: (a) Direct sales: Healthcare $ 363.2 $ 10.3 $ 48.0 $ 304.9 Industrial & Manufacturing 321.4 227.2 89.9 4.3 Government 163.4 80.7 72.6 10.1 Utilities & Power 108.3 48.6 59.7 — Communications, Electronics & Semiconductor 82.9 27.9 55.0 — Aerospace & Defense 76.9 0.1 76.8 — Retail & Consumer 87.5 69.7 17.8 — Oil & Gas 70.9 68.1 2.8 — Other 170.0 91.6 78.4 — Total direct sales 1,444.5 624.2 501.0 319.3 Distributors 90.1 37.0 49.9 3.2 Total $ 1,534.6 $ 661.2 $ 550.9 $ 322.5 (a) Direct sales by end market include sales made through third-party distributors where we have visibility to the end customer. Disaggregation of revenue for the three-month period ended September 29, 2023 is presented as follows ($ in millions): Total Intelligent Operating Solutions Precision Technologies Advanced Healthcare Solutions Sales: Sales of products and software $ 1,258.9 $ 538.4 $ 491.7 $ 228.8 Sales of services 235.6 105.9 60.8 68.9 Total $ 1,494.5 $ 644.3 $ 552.5 $ 297.7 Geographic: United States $ 833.7 $ 366.1 $ 304.6 $ 163.0 China 162.1 52.5 82.6 27.0 All other (each country individually less than 5% of total sales) 498.7 225.7 165.3 107.7 Total $ 1,494.5 $ 644.3 $ 552.5 $ 297.7 End markets: (a) Direct sales: Healthcare $ 353.3 $ 10.9 $ 56.9 $ 285.5 Industrial & Manufacturing 340.1 226.3 109.9 3.9 Government 145.5 73.2 64.0 8.3 Utilities & Power 105.3 46.5 58.8 — Communications, Electronics & Semiconductor 101.1 24.7 76.4 — Aerospace & Defense 74.9 0.1 74.8 — Retail & Consumer 82.4 64.8 17.6 — Oil & Gas 70.6 68.3 2.3 — Other 167.3 96.9 70.4 — Total direct sales 1,440.5 611.7 531.1 297.7 Distributors 54.0 32.6 21.4 — Total $ 1,494.5 $ 644.3 $ 552.5 $ 297.7 (a) Direct sales by end market include sales made through third-party distributors where we have visibility to the end customer. Disaggregation of revenue for the nine-month period ended September 27, 2024 is presented as follows ($ in millions): Total Intelligent Operating Solutions Precision Technologies Advanced Healthcare Solutions Sales: Sales of products and software $ 3,902.2 $ 1,679.6 $ 1,481.5 $ 741.1 Sales of services 709.3 324.3 180.2 204.8 Total $ 4,611.5 $ 2,003.9 $ 1,661.7 $ 945.9 Geographic: United States $ 2,472.1 $ 1,105.3 $ 837.9 $ 528.9 China 495.2 171.0 245.6 78.6 All other (each country individually less than 5% of total sales) 1,644.2 727.6 578.2 338.4 Total $ 4,611.5 $ 2,003.9 $ 1,661.7 $ 945.9 End markets: (a) Direct sales: Healthcare $ 1,069.3 $ 32.7 $ 142.7 $ 893.9 Industrial & Manufacturing 1,001.4 705.4 282.5 13.5 Government 431.8 230.5 172.8 28.5 Utilities & Power 314.3 146.6 167.7 — Communications, Electronics & Semiconductor 267.8 81.3 186.5 — Aerospace & Defense 243.7 0.3 243.4 — Retail & Consumer 244.9 196.9 48.0 — Oil & Gas 215.7 206.9 8.8 — Other 534.1 287.5 246.6 — Total direct sales 4,323.0 1,888.1 1,499.0 935.9 Distributors 288.5 115.8 162.7 10.0 Total $ 4,611.5 $ 2,003.9 $ 1,661.7 $ 945.9 (a) Direct sales by end market include sales made through third-party distributors where we have visibility to the end customer. Disaggregation of revenue for the nine-month period ended September 29, 2023 is presented as follows ($ in millions): Total Intelligent Operating Solutions Precision Technologies Advanced Healthcare Solutions Sales: Sales of products and software $ 3,786.3 $ 1,622.2 $ 1,469.8 $ 694.3 Sales of services 695.3 307.3 184.1 203.9 Total $ 4,481.6 $ 1,929.5 $ 1,653.9 $ 898.2 Geographic: United States $ 2,433.0 $ 1,068.2 $ 865.9 $ 498.9 China 522.4 176.0 269.0 77.4 All other (each country individually less than 5% of total sales) 1,526.2 685.3 519.0 321.9 Total $ 4,481.6 $ 1,929.5 $ 1,653.9 $ 898.2 End markets: (a) Direct sales: Healthcare $ 1,052.3 $ 33.4 $ 168.5 $ 850.4 Industrial & Manufacturing 1,051.1 687.2 351.2 12.7 Government 389.5 212.2 151.9 25.4 Utilities & Power 308.8 140.1 168.7 — Communications, Electronics & Semiconductor 304.4 73.6 230.8 — Aerospace & Defense 218.8 0.4 218.4 — Retail & Consumer 249.7 189.2 60.5 — Oil & Gas 212.5 201.8 10.7 — Other 519.0 292.0 227.0 — Total direct sales 4,306.1 1,829.9 1,587.7 888.5 Distributors 175.5 99.6 66.2 9.7 Total $ 4,481.6 $ 1,929.5 $ 1,653.9 $ 898.2 (a) Direct sales by end market include sales made through third-party distributors where we have visibility to the end customer.

INCOME TAXES

INCOME TAXES	9 Months Ended
INCOME TAXES	Sep. 27, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 7. INCOME TAXES Our effective tax rates for the three and nine-month periods ended September 27, 2024 were 4.6% and 10.2%, respectively, as compared to 15.2% and 15.8%, respectively, for the three and nine-month periods ended September 29, 2023. The decrease in the effective tax rate for the three-month period ended September 27, 2024 as compared to the three-month period ended September 29, 2023 was primarily related to changes in applicable statutory tax rates, resulting in a benefit in the three-month period ended September 27, 2024. The decrease in the effective tax rate for the nine-month period ended September 27, 2024 as compared to the nine-month period ended September 29, 2023 was primarily related to cash repatriation resulting in a discrete tax credit, changes in applicable statutory tax rates, and changes in valuation allowances in the nine-month period ended September 27, 2024. Our effective tax rates for the three and nine-month periods ended September 27, 2024, differ from the U.S. federal statutory rate of 21% due primarily to the impact of credits and deductions provided by law, including those associated with state income taxes, and changes in our uncertain tax position reserves.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	9 Months Ended
STOCK-BASED COMPENSATION	Sep. 27, 2024
Share-Based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	NOTE 8. STOCK-BASED COMPENSATION The 2016 Stock Incentive Plan (the “Stock Plan”), provides for the grant of stock appreciation rights, restricted stock units, and performance stock units (collectively, “Stock Awards”), stock options, or any other stock-based award. As of September 27, 2024, approximately 12 million shares of our common stock were available for subsequent issuance under the Stock Plan. For a full description of our Stock Plan, refer to Note 15 of our 2023 Annual Report on Form 10-K. Stock-based Compensation 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 Nine Months Ended September 27, 2024 September 29, 2023 September 27, 2024 September 29, 2023 Stock Awards: Pretax compensation expense $ 19.5 $ 20.6 $ 56.6 $ 58.6 Income tax benefit (3.1) (3.1) (8.6) (8.4) Stock Award expense, net of income taxes 16.4 17.5 48.0 50.2 Stock options: Pretax compensation expense 8.4 8.9 24.4 26.6 Income tax benefit (1.3) (1.3) (3.6) (3.8) Stock option expense, net of income taxes 7.1 7.6 20.8 22.8 Total stock-based compensation: Pretax compensation expense 27.9 29.5 81.0 85.2 Income tax benefit (4.4) (4.4) (12.2) (12.2) Total stock-based compensation expense, net of income taxes $ 23.5 $ 25.1 $ 68.8 $ 73.0 The following summarizes the unrecognized compensation cost for the Stock Plan awards as of September 27, 2024. 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 $ 46.3 Stock options 120.2 Total unrecognized compensation cost $ 166.5

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
COMMITMENTS AND CONTINGENCIES	Sep. 27, 2024
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 14 and Note 9, respectively, in our 2023 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. During the three and nine-month periods ended September 27, 2024 and September 29, 2023, warranty related activity was immaterial. Leases Operating lease costs for the three-month periods ended September 27, 2024 and September 29, 2023 were $12 million and $13 million, respectively. Operating lease costs for both the nine-month periods ended September 27, 2024 and September 29, 2023 were $37 million. During both the nine-month periods ended September 27, 2024 and September 29, 2023, cash paid for operating leases included in operating cash flows was $36 million. Right-of-use (“ROU”) assets obtained in exchange for

NET EARNINGS PER SHARE

NET EARNINGS PER SHARE	9 Months Ended
NET EARNINGS PER SHARE	Sep. 27, 2024
Earnings Per Share [Abstract]
NET EARNINGS PER SHARE	NOTE 10. NET EARNINGS PER SHARE Basic net earnings per share (“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 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 nine-month periods ended September 27, 2024 were 1.5 million and 1.2 million, respectively, and were 0.1 million and 0.5 million for the three and nine-month periods ended September 29, 2023. 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 Nine Months Ended September 27, 2024 September 29, 2023 September 27, 2024 September 29, 2023 Numerator Net earnings $ 221.6 $ 218.0 $ 624.1 $ 600.6 Denominator Weighted average common shares outstanding used in basic earnings per share 349.2 352.1 350.7 352.9 Incremental common shares from: Assumed exercise of dilutive options and vesting of dilutive Stock Awards 3.1 4.0 3.7 3.1 Weighted average common shares outstanding used in diluted earnings per share 352.3 356.1 354.4 356.0 Net earnings per common share - Basic $ 0.63 $ 0.62 $ 1.78 $ 1.70 Net earnings per common share - Diluted $ 0.63 $ 0.61 $ 1.76 $ 1.69 We declared and paid cash dividends per common share for the periods as presented below: Dividend Per Amount 2024: First quarter $ 0.08 $ 28.1 Second quarter 0.08 28.0 Third quarter 0.08 27.8 Total $ 0.24 $ 83.9 2023: First quarter $ 0.07 $ 24.7 Second quarter 0.07 24.6 Third quarter 0.07 24.6 Total $ 0.21 $ 73.9 Share Repurchase Program On February 17, 2022, the Company's Board of Directors approved a share repurchase program authorizing the Company to repurchase up to 20 million shares of the Company's outstanding common stock from time to time on the open market or in privately negotiated transactions. On January 23, 2024, the Company’s Board of Directors increased the number of shares authorized under the share repurchase program by an additional 11 million shares, with 14.2 million shares remaining authorized under the share repurchase program as of September 27, 2024. There is no expiration date for the repurchase program, and the timing and amount of repurchases under the program are determined by the Company's management based on market conditions and other factors. The repurchase program may be suspended or discontinued at any time by the Board of Directors. During the three and nine-month periods ended September 27, 2024, the Company purchased 3.8 million and 5.8 million shares of its common stock at an average share price of $70.87 and $72.78, respectively. During the three and nine-month periods ended September 29, 2023, the Company purchased 1 million and 3 million shares of its common stock at an average share price of $78.74 and $69.27, respectively.

SEGMENT INFORMATION

SEGMENT INFORMATION	9 Months Ended
SEGMENT INFORMATION	Sep. 27, 2024
Segment Reporting [Abstract]
SEGMENT INFORMATION	NOTE 11. SEGMENT INFORMATION We report our results in three separate business segments consisting of IOS, PT, and AHS. Our chief operating decision maker (“CODM”) assesses performance and allocates resources based on our operating segments, which are also our reportable segments. Due to the Segment Realignment, prior period segment amounts have been recast to conform to the revised segment presentation. Refer to Note 1 for further information on the realignment. Our IOS segment provides advanced instrumentation, software and services to tens of thousands of customers enabling their mission-critical workflows. These offerings include electrical test & measurement, facility and asset lifecycle software applications, connected worker safety and compliance solutions across a range of vertical end markets, including manufacturing, process industries, healthcare, utilities and power, communications and electronics, among others. Our PT segment helps solve tough technical challenges to speed breakthroughs in a wide range of applications, from food and beverage production and manufacturing to next-generation electric vehicles and clean energy, as our customers seek new test solutions to enable the electrification and connectivity of everything. Our expertise in materials, methods and measurements are reflected in our electrical test & measurement and sensing and material technologies offered to a broad set of customers and vertical end markets, including industrial, power and energy, automotive, medical equipment, food and beverage, aerospace and defense, semiconductor, and other general industries. Our AHS segment supplies critical workflow solutions enabling healthcare providers to deliver exceptional patient care more efficiently. Our offerings include instrument sterilization solutions, instrument tracking, biomedical test tools, radiation detection and safety monitoring, and end-to-end clinical productivity software and solutions. Our healthcare offerings help ensure critical safety standards are met, instruments and operating rooms are working at peak performance, and complex procedures are followed accurately in these mission-critical healthcare environments. Our segment results are as follows ($ in millions): Three Months Ended Nine Months Ended September 27, 2024 September 29, 2023 September 27, 2024 September 29, 2023 Sales: Intelligent Operating Solutions $ 661.2 $ 644.3 $ 2,003.9 $ 1,929.5 Precision Technologies 550.9 552.5 1,661.7 1,653.9 Advanced Healthcare Solutions 322.5 297.7 945.9 898.2 Total $ 1,534.6 $ 1,494.5 $ 4,611.5 $ 4,481.6 Operating Profit: Intelligent Operating Solutions $ 167.7 $ 156.8 $ 505.0 $ 452.0 Precision Technologies 122.0 140.9 386.4 401.3 Advanced Healthcare Solutions 41.0 25.0 108.7 65.8 Other (35.2) (31.6) (100.6) (96.3) Total Operating Profit 295.5 291.1 899.5 822.8 Interest expense, net (37.0) (29.8) (119.7) (95.0) Loss from divestiture — — (25.6) — Other non-operating expense, net (26.3) (4.2) (59.3) (14.5) Earnings before income taxes $ 232.2 $ 257.1 $ 694.9 $ 713.3

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Sep. 27, 2024	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023
Pay vs Performance Disclosure
Net earnings	$ 221.6	$ 218	$ 624.1	$ 600.6

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 27, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

BUSINESS OVERVIEW (Policies)

BUSINESS OVERVIEW (Policies)	9 Months Ended
BUSINESS OVERVIEW (Policies)	Sep. 27, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Segment Realignment and Divestiture	Segment Realignment and Divestiture In January 2024, we realigned Invetech from the AHS segment to the PT segment (the “Segment Realignment”) based on our strategic decision to divest the equipment design and manufacturing businesses of Invetech, while retaining the motion solution businesses (the “Motion Solution Business”) that are more closely aligned with the PT segment than the AHS segment. Prior period segment amounts in Note 3, 6, and 11 have been recast to conform to the revised segment presentation. In June 2024, we divested and transferred ownership of Invetech, excluding the Motion Solution Business, to its management team (the “Invetech Divestiture”). As a result of the divestiture, in the nine-month period ended September 27, 2024, we recorded a net realized loss of $25.6 million, which is identified as “Loss from divestiture” in the Consolidated Condensed Statements of Earnings. The divested businesses accounted for less than 1.0% of total revenue and less than 1.0% of total assets for the fiscal year ended December 31, 2023. The Invetech Divestiture did not represent a strategic shift with a major effect on the Company’s operations and financial results, and therefore the divested businesses are not reported as discontinued operations.
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss Foreign currency translation adjustments are generally not adjusted for income taxes as they relate to indefinite investments in non-U.S. subsidiaries. As of September 27, 2024, our outstanding €500 million Euro-denominated senior unsecured notes due 2026, €700 million Euro-denominated senior unsecured notes due 2029, €275 million Euro-denominated term loan, and ¥14.4 billion Yen-denominated term loan were designated as net investment hedges of our investment in applicable foreign operations. We recognized after-tax foreign currency transaction losses of $59.7 million and gains of $9.6 million during the three-month periods ended September 27, 2024 and September 29, 2023, respectively, and losses of $38.3 million and gains of $13.0 million during the nine-month periods ended September 27, 2024 and September 29, 2023, respectively, on the debt that was 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 nine-month periods ended September 27, 2024 and September 29, 2023.
Allowances for Doubtful Accounts	Allowances for Doubtful Accounts All trade accounts and unbilled receivables are recorded in the Consolidated Condensed Balance Sheets 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. During the three and nine-month periods ending September 27, 2024 and September 29, 2023, the activity was immaterial.
Restructuring	Restructuring We initiated a discrete restructuring plan in the first quarter of 2023 that was completed during the fourth quarter of 2023. The nature of these activities were broadly consistent throughout our segments and consisted primarily of targeted workforce reductions in response to overall macroeconomic and other external conditions. We incurred these costs to position ourselves to provide superior products and services to customers in a cost-efficient manner, while taking into consideration the impact of broad economic uncertainties. During the three and nine-month periods ended September 29, 2023, we incurred charges of $0.9 million and $29.2 million, respectively. These charges are recorded within Cost of sales and Selling, general, and administrative expenses in the Consolidated Condensed Statements of Earnings. Accrued restructuring costs were immaterial as of September 27, 2024 and were $26 million as of December 31, 2023, and are recorded within Accrued expenses and other current liabilities in the Consolidated Condensed Balance Sheets.
Recently Issued Accounting Standard	Recently Issued Accounting Standard In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2023-07, Segment Reporting (Topic 280)—Improvements to Reportable Segment Disclosures , which amends the disclosure requirements for reportable segments on the interim and annual basis. This standard is effective for fiscal year ending December 31, 2024 and interim periods within fiscal year ending December 31, 2025. The adoption of the standard will not impact our consolidated financial statements; however, we are currently evaluating the impact of the new disclosure requirements on the notes to the financial statements. Upon adoption, we will update the applicable interim and annual disclosures to align with the new standard. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740) —Improvements to Income Tax Disclosures
Fair Value Measurements	Accounting standards define fair value based on an exit price model, establish a framework for measuring fair value for assets and liabilities required to be carried at fair value, and provide for certain disclosures related to the valuation methods used within the 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. A financial asset or liability’s classification 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 sales of products, including 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 software as a service (“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, services related to previously sold products, and software implementation services. 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 $121 million as of September 27, 2024 and $108 million as of December 31, 2023. Contract assets are recorded within Prepaid expenses and other current assets in our Consolidated Condensed Balance Sheets. Contract Costs — We incur and capitalize incremental costs to obtain certain contracts, typically sales-related commissions where the amortization period is greater than one year and costs associated with assets used by our customers in certain service arrangements. As of September 27, 2024 and December 31, 2023, we had $59 million and $51 million, respectively, in net revenue-related contract costs primarily related to certain software contracts. Revenue-related contract costs are recorded within Other assets in our Consolidated Condensed Balance Sheets. These assets have estimated useful lives between three Contract Liabilities — Our contract liabilities consist of deferred revenue generally related to subscription-based software contracts, PCS and extended warranty sales, where we generally receive up-front payment and recognize revenue over the service or support term. We classify deferred revenue as current or noncurrent based on the timing of when we expect to recognize revenue. The current portion of deferred revenue is recorded within Accrued expenses and other current liabilities and the noncurrent portion of deferred revenue is recorded within Other long-term liabilities in our 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)	9 Months Ended
BUSINESS OVERVIEW (Tables)	Sep. 27, 2024
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 & post-retirement plan benefit adjustments (a) Total For the Three Months Ended September 27, 2024: Balance, June 28, 2024 $ (389.3) $ (34.3) $ (423.6) Other comprehensive income (loss) before reclassifications, net of income taxes 89.3 — 89.3 Amounts reclassified from AOCI into income: Increase (decrease) — 0.1 (b) 0.1 Income tax impact — — — Amounts reclassified from AOCI into income, net of income taxes — 0.1 0.1 Net current period other comprehensive income (loss), net of income taxes 89.3 0.1 89.4 Balance, September 27, 2024 $ (300.0) $ (34.2) $ (334.2) For the Three Months Ended September 29, 2023: Balance, June 30, 2023 $ (295.4) $ (24.5) $ (319.9) Other comprehensive income (loss) before reclassifications, net of income taxes (46.0) (0.4) (46.4) Amounts reclassified from AOCI into income: Increase (decrease) — 0.6 (b) 0.6 Income tax impact — (0.1) (0.1) Amounts reclassified from AOCI into income, net of income taxes — 0.5 0.5 Net current period other comprehensive income (loss), net of income taxes (46.0) 0.1 (45.9) Balance, September 29, 2023 $ (341.4) $ (24.4) $ (365.8) (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 11 in our 2023 Annual Report on Form 10-K for additional details). Foreign Pension & post-retirement plan benefit adjustments (a) Total For the Nine Months Ended September 27, 2024: Balance, December 31, 2023 $ (291.7) $ (34.4) $ (326.1) Other comprehensive income (loss) before reclassifications, net of income taxes (15.3) — (15.3) Amounts reclassified from AOCI into income: Increase (decrease) 7.0 (b) 0.3 (c) 7.3 Income tax impact — (0.1) (0.1) Amounts reclassified from AOCI into income, net of income taxes 7.0 0.2 7.2 Net current period other comprehensive income (loss) (8.3) 0.2 (8.1) Balance, September 27, 2024 $ (300.0) $ (34.2) $ (334.2) For the Nine Months Ended September 29, 2023: Balance, December 31, 2022 $ (301.4) $ (24.3) $ (325.7) Other comprehensive income (loss) before reclassifications, net of income taxes (40.0) (0.4) (40.4) Amounts reclassified from AOCI into income: Increase (decrease) — 0.2 (c) 0.2 Income tax impact — 0.1 0.1 Amounts reclassified from AOCI into income, net of income taxes — 0.3 0.3 Net current period other comprehensive income (loss) (40.0) (0.1) (40.1) Balance, September 29, 2023 $ (341.4) $ (24.4) $ (365.8) (a) Includes balances relating to defined benefit plans, supplemental executive retirement plans, and other postretirement employee benefit plans. (b) This amount relates to the cumulative translation adjustment recognized in earnings upon the Invetech Divestiture. Refer to Note 1 for additional details. (c) This component of AOCI is included in the computation of net periodic pension cost (refer to Note 11 in our 2023 Annual Report on Form 10-K for additional details).

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	9 Months Ended
ACQUISITIONS (Tables)	Sep. 27, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Schedule of Fair Value Assets Acquired and Liabilities Assumed	The following table summarizes the preliminary estimated acquisition date fair values of the assets acquired and liabilities assumed as of September 27, 2024 ($ in millions): Total Accounts receivable $ 19.6 Inventories 35.6 Property, plant and equipment 19.7 Goodwill 1,172.6 Other intangible assets (customer relationships, technology, and trade names) 681.2 Deferred tax liabilities (189.1) Other assets and liabilities, net (21.4) Net cash consideration $ 1,718.2

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	9 Months Ended
GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	Sep. 27, 2024
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, 2023 $ 4,148.9 $ 1,856.5 $ 3,116.3 $ 9,121.7 Measurement period adjustments for prior year acquisitions 0.6 — — 0.6 Attributable to acquisitions — 1,172.6 — 1,172.6 Foreign currency translation and other 10.9 19.5 (3.0) 27.4 Balance, September 27, 2024 $ 4,160.4 $ 3,048.6 $ 3,113.3 $ 10,322.3
Schedule of Finite Lived Intangible Assets	The following summarizes the gross carrying value and accumulated amortization for each major category of intangible asset ($ in millions): September 27, 2024 December 31, 2023 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Finite-lived intangibles: Patents and technology $ 1,286.1 $ (788.4) $ 1,139.6 $ (687.1) Customer relationships and other intangibles 4,055.9 (1,799.9) 3,568.0 (1,573.2) Trademarks and trade names 176.8 (31.1) 117.7 (19.8) Total finite-lived intangibles 5,518.8 (2,619.4) 4,825.3 (2,280.1) Indefinite-lived intangibles: Trademarks and trade names 610.6 — 614.6 — Total intangibles $ 6,129.4 $ (2,619.4) $ 5,439.9 $ (2,280.1)
Schedule of Indefinite Lived Intangible Assets	The following summarizes the gross carrying value and accumulated amortization for each major category of intangible asset ($ in millions): September 27, 2024 December 31, 2023 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Finite-lived intangibles: Patents and technology $ 1,286.1 $ (788.4) $ 1,139.6 $ (687.1) Customer relationships and other intangibles 4,055.9 (1,799.9) 3,568.0 (1,573.2) Trademarks and trade names 176.8 (31.1) 117.7 (19.8) Total finite-lived intangibles 5,518.8 (2,619.4) 4,825.3 (2,280.1) Indefinite-lived intangibles: Trademarks and trade names 610.6 — 614.6 — Total intangibles $ 6,129.4 $ (2,619.4) $ 5,439.9 $ (2,280.1)

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
FAIR VALUE MEASUREMENTS (Tables)	Sep. 27, 2024
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 September 27, 2024 Deferred compensation liabilities $ — $ 46.8 $ — $ 46.8 December 31, 2023 Deferred compensation liabilities — 39.9 — 39.9
Schedule of Carrying Amounts and Fair Values of Financial Instruments	The carrying amount and fair value of financial instruments are as follows ($ in millions): September 27, 2024 December 31, 2023 Carrying Amount Fair Value Carrying Amount Fair Value Current portion of long-term debt $ 408.1 $ 408.3 $ — $ — Long-term debt, net of current maturities 3,451.8 3,407.3 3,646.2 3,539.4

FINANCING (Tables)

FINANCING (Tables)	9 Months Ended
FINANCING (Tables)	Sep. 27, 2024
Debt Disclosure [Abstract]
Schedule of Components of Debt	The components of our debt were as follows ($ in millions): September 27, 2024 December 31, 2023 U.S. dollar-denominated commercial paper $ 675.0 $ 1,251.2 3.7% Euro-denominated senior unsecured notes due 2026 558.1 — 3.7% Euro-denominated senior unsecured notes due 2029 781.3 — Euro Term Loan due 2025 307.0 303.6 Yen Term Loan due 2025 101.3 102.1 3.15% senior unsecured notes due 2026 900.0 900.0 4.30% senior unsecured notes due 2046 550.0 550.0 Delayed-Draw Term Loan due 2024 — 550.0 Long-term debt, principal amounts 3,872.7 3,656.9 Less: aggregate unamortized debt discounts, premiums, and issuance costs 12.8 10.7 Long-term debt, carrying value 3,859.9 3,646.2 Less: current portion of long-term debt, carrying value 408.1 — Long-term debt, net of current maturities $ 3,451.8 $ 3,646.2 The details of our outstanding Commercial Paper Programs as of September 27, 2024 were as follows ($ in millions): Carrying value (a) Annual effective rate Weighted average maturity (in days) U.S. dollar-denominated commercial paper $ 673.6 5.28 % 30 (a) Net of unamortized debt discount.

SALES (Tables)

SALES (Tables)	9 Months Ended
SALES (Tables)	Sep. 27, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Contract Liabilities	Our contract liabilities consisted of the following ($ in millions): September 27, 2024 December 31, 2023 Deferred revenue - current $ 510.8 $ 544.6 Deferred revenue - noncurrent 48.7 45.8 Total contract liabilities $ 559.5 $ 590.4
Schedule of Remaining Performance Obligations	The aggregate remaining performance obligations attributable to each of our segments is as follows ($ in millions): September 27, 2024 Intelligent Operating Solutions $ 593.5 Precision Technologies 59.7 Advanced Healthcare Solutions 75.3 Total remaining performance obligations $ 728.5
Schedule of Disaggregation of Revenue	Disaggregation of revenue for the three-month period ended September 27, 2024 is presented as follows ($ in millions): Total Intelligent Operating Solutions Precision Technologies Advanced Healthcare Solutions Sales: Sales of products and software $ 1,293.4 $ 549.4 $ 490.6 $ 253.4 Sales of services 241.2 111.8 60.3 69.1 Total $ 1,534.6 $ 661.2 $ 550.9 $ 322.5 Geographic: United States $ 841.9 $ 375.0 $ 282.8 $ 184.1 China 153.8 50.7 76.1 27.0 All other (each country individually less than 5% of total sales) 538.9 235.5 192.0 111.4 Total $ 1,534.6 $ 661.2 $ 550.9 $ 322.5 End markets: (a) Direct sales: Healthcare $ 363.2 $ 10.3 $ 48.0 $ 304.9 Industrial & Manufacturing 321.4 227.2 89.9 4.3 Government 163.4 80.7 72.6 10.1 Utilities & Power 108.3 48.6 59.7 — Communications, Electronics & Semiconductor 82.9 27.9 55.0 — Aerospace & Defense 76.9 0.1 76.8 — Retail & Consumer 87.5 69.7 17.8 — Oil & Gas 70.9 68.1 2.8 — Other 170.0 91.6 78.4 — Total direct sales 1,444.5 624.2 501.0 319.3 Distributors 90.1 37.0 49.9 3.2 Total $ 1,534.6 $ 661.2 $ 550.9 $ 322.5 (a) Direct sales by end market include sales made through third-party distributors where we have visibility to the end customer. Disaggregation of revenue for the three-month period ended September 29, 2023 is presented as follows ($ in millions): Total Intelligent Operating Solutions Precision Technologies Advanced Healthcare Solutions Sales: Sales of products and software $ 1,258.9 $ 538.4 $ 491.7 $ 228.8 Sales of services 235.6 105.9 60.8 68.9 Total $ 1,494.5 $ 644.3 $ 552.5 $ 297.7 Geographic: United States $ 833.7 $ 366.1 $ 304.6 $ 163.0 China 162.1 52.5 82.6 27.0 All other (each country individually less than 5% of total sales) 498.7 225.7 165.3 107.7 Total $ 1,494.5 $ 644.3 $ 552.5 $ 297.7 End markets: (a) Direct sales: Healthcare $ 353.3 $ 10.9 $ 56.9 $ 285.5 Industrial & Manufacturing 340.1 226.3 109.9 3.9 Government 145.5 73.2 64.0 8.3 Utilities & Power 105.3 46.5 58.8 — Communications, Electronics & Semiconductor 101.1 24.7 76.4 — Aerospace & Defense 74.9 0.1 74.8 — Retail & Consumer 82.4 64.8 17.6 — Oil & Gas 70.6 68.3 2.3 — Other 167.3 96.9 70.4 — Total direct sales 1,440.5 611.7 531.1 297.7 Distributors 54.0 32.6 21.4 — Total $ 1,494.5 $ 644.3 $ 552.5 $ 297.7 (a) Direct sales by end market include sales made through third-party distributors where we have visibility to the end customer. Disaggregation of revenue for the nine-month period ended September 27, 2024 is presented as follows ($ in millions): Total Intelligent Operating Solutions Precision Technologies Advanced Healthcare Solutions Sales: Sales of products and software $ 3,902.2 $ 1,679.6 $ 1,481.5 $ 741.1 Sales of services 709.3 324.3 180.2 204.8 Total $ 4,611.5 $ 2,003.9 $ 1,661.7 $ 945.9 Geographic: United States $ 2,472.1 $ 1,105.3 $ 837.9 $ 528.9 China 495.2 171.0 245.6 78.6 All other (each country individually less than 5% of total sales) 1,644.2 727.6 578.2 338.4 Total $ 4,611.5 $ 2,003.9 $ 1,661.7 $ 945.9 End markets: (a) Direct sales: Healthcare $ 1,069.3 $ 32.7 $ 142.7 $ 893.9 Industrial & Manufacturing 1,001.4 705.4 282.5 13.5 Government 431.8 230.5 172.8 28.5 Utilities & Power 314.3 146.6 167.7 — Communications, Electronics & Semiconductor 267.8 81.3 186.5 — Aerospace & Defense 243.7 0.3 243.4 — Retail & Consumer 244.9 196.9 48.0 — Oil & Gas 215.7 206.9 8.8 — Other 534.1 287.5 246.6 — Total direct sales 4,323.0 1,888.1 1,499.0 935.9 Distributors 288.5 115.8 162.7 10.0 Total $ 4,611.5 $ 2,003.9 $ 1,661.7 $ 945.9 (a) Direct sales by end market include sales made through third-party distributors where we have visibility to the end customer. Disaggregation of revenue for the nine-month period ended September 29, 2023 is presented as follows ($ in millions): Total Intelligent Operating Solutions Precision Technologies Advanced Healthcare Solutions Sales: Sales of products and software $ 3,786.3 $ 1,622.2 $ 1,469.8 $ 694.3 Sales of services 695.3 307.3 184.1 203.9 Total $ 4,481.6 $ 1,929.5 $ 1,653.9 $ 898.2 Geographic: United States $ 2,433.0 $ 1,068.2 $ 865.9 $ 498.9 China 522.4 176.0 269.0 77.4 All other (each country individually less than 5% of total sales) 1,526.2 685.3 519.0 321.9 Total $ 4,481.6 $ 1,929.5 $ 1,653.9 $ 898.2 End markets: (a) Direct sales: Healthcare $ 1,052.3 $ 33.4 $ 168.5 $ 850.4 Industrial & Manufacturing 1,051.1 687.2 351.2 12.7 Government 389.5 212.2 151.9 25.4 Utilities & Power 308.8 140.1 168.7 — Communications, Electronics & Semiconductor 304.4 73.6 230.8 — Aerospace & Defense 218.8 0.4 218.4 — Retail & Consumer 249.7 189.2 60.5 — Oil & Gas 212.5 201.8 10.7 — Other 519.0 292.0 227.0 — Total direct sales 4,306.1 1,829.9 1,587.7 888.5 Distributors 175.5 99.6 66.2 9.7 Total $ 4,481.6 $ 1,929.5 $ 1,653.9 $ 898.2 (a) Direct sales by end market include sales made through third-party distributors where we have visibility to the end customer.

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	9 Months Ended
STOCK-BASED COMPENSATION (Tables)	Sep. 27, 2024
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 Nine Months Ended September 27, 2024 September 29, 2023 September 27, 2024 September 29, 2023 Stock Awards: Pretax compensation expense $ 19.5 $ 20.6 $ 56.6 $ 58.6 Income tax benefit (3.1) (3.1) (8.6) (8.4) Stock Award expense, net of income taxes 16.4 17.5 48.0 50.2 Stock options: Pretax compensation expense 8.4 8.9 24.4 26.6 Income tax benefit (1.3) (1.3) (3.6) (3.8) Stock option expense, net of income taxes 7.1 7.6 20.8 22.8 Total stock-based compensation: Pretax compensation expense 27.9 29.5 81.0 85.2 Income tax benefit (4.4) (4.4) (12.2) (12.2) Total stock-based compensation expense, net of income taxes $ 23.5 $ 25.1 $ 68.8 $ 73.0
Schedule of Future Compensation	Future compensation amounts will be adjusted for any changes in estimated forfeitures ($ in millions): Stock Awards $ 46.3 Stock options 120.2 Total unrecognized compensation cost $ 166.5

NET EARNINGS PER SHARE (Tables)

NET EARNINGS PER SHARE (Tables)	9 Months Ended
NET EARNINGS PER SHARE (Tables)	Sep. 27, 2024
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 Nine Months Ended September 27, 2024 September 29, 2023 September 27, 2024 September 29, 2023 Numerator Net earnings $ 221.6 $ 218.0 $ 624.1 $ 600.6 Denominator Weighted average common shares outstanding used in basic earnings per share 349.2 352.1 350.7 352.9 Incremental common shares from: Assumed exercise of dilutive options and vesting of dilutive Stock Awards 3.1 4.0 3.7 3.1 Weighted average common shares outstanding used in diluted earnings per share 352.3 356.1 354.4 356.0 Net earnings per common share - Basic $ 0.63 $ 0.62 $ 1.78 $ 1.70 Net earnings per common share - Diluted $ 0.63 $ 0.61 $ 1.76 $ 1.69
Schedule of Dividends Declared	We declared and paid cash dividends per common share for the periods as presented below: Dividend Per Amount 2024: First quarter $ 0.08 $ 28.1 Second quarter 0.08 28.0 Third quarter 0.08 27.8 Total $ 0.24 $ 83.9 2023: First quarter $ 0.07 $ 24.7 Second quarter 0.07 24.6 Third quarter 0.07 24.6 Total $ 0.21 $ 73.9

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	9 Months Ended
SEGMENT INFORMATION (Tables)	Sep. 27, 2024
Segment Reporting [Abstract]
Schedule of Segment Reporting Information	Our segment results are as follows ($ in millions): Three Months Ended Nine Months Ended September 27, 2024 September 29, 2023 September 27, 2024 September 29, 2023 Sales: Intelligent Operating Solutions $ 661.2 $ 644.3 $ 2,003.9 $ 1,929.5 Precision Technologies 550.9 552.5 1,661.7 1,653.9 Advanced Healthcare Solutions 322.5 297.7 945.9 898.2 Total $ 1,534.6 $ 1,494.5 $ 4,611.5 $ 4,481.6 Operating Profit: Intelligent Operating Solutions $ 167.7 $ 156.8 $ 505.0 $ 452.0 Precision Technologies 122.0 140.9 386.4 401.3 Advanced Healthcare Solutions 41.0 25.0 108.7 65.8 Other (35.2) (31.6) (100.6) (96.3) Total Operating Profit 295.5 291.1 899.5 822.8 Interest expense, net (37.0) (29.8) (119.7) (95.0) Loss from divestiture — — (25.6) — Other non-operating expense, net (26.3) (4.2) (59.3) (14.5) Earnings before income taxes $ 232.2 $ 257.1 $ 694.9 $ 713.3

BUSINESS OVERVIEW - Narrative (

BUSINESS OVERVIEW - Narrative (Details)	Sep. 27, 2024 country
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of countries in which entity operates (more than)	50

BUSINESS OVERVIEW - Segment Rea

BUSINESS OVERVIEW - Segment Realignment and Divestiture Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 27, 2024	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023	Dec. 31, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss from divestiture	$ 0	$ 0	$ 25.6	$ 0
Invetech Divestiture
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Divested business percent of total revenue (less than)					1%
Divested business percent of total assets (less than)					1%
Precision Technologies
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss from divestiture			$ 25.6

BUSINESS OVERVIEW - Accumulated

BUSINESS OVERVIEW - Accumulated Other Comprehensive Income Loss Narrative (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 27, 2024 USD ($)	Sep. 29, 2023 USD ($)	Sep. 27, 2024 USD ($)	Sep. 29, 2023 USD ($)	Sep. 27, 2024 EUR (€)	Sep. 27, 2024 JPY (¥)
Accumulated Other Comprehensive Income (Loss) [Line Items]
After-tax foreign currency transaction gain (loss) from foreign currency translation \| $	$ (59.7)	$ 9.6	$ (38.3)	$ 13
Euro-denominated senior unsecured notes due 2026
Accumulated Other Comprehensive Income (Loss) [Line Items]
Principal amount					€ 500,000,000
Euro-denominated senior unsecured notes due 2029
Accumulated Other Comprehensive Income (Loss) [Line Items]
Principal amount					700,000,000
Euro Term Loan
Accumulated Other Comprehensive Income (Loss) [Line Items]
Principal amount					€ 275,000,000
Yen Term Loan
Accumulated Other Comprehensive Income (Loss) [Line Items]
Principal amount \| ¥						¥ 14,400,000,000

BUSINESS OVERVIEW - Accumulat_2

BUSINESS OVERVIEW - Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended						9 Months Ended
	Sep. 27, 2024	Jun. 28, 2024	Mar. 29, 2024	Sep. 29, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 27, 2024	Sep. 29, 2023
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance			$ 10,325.3				$ 10,325.3
Other comprehensive income (loss) before reclassifications, net of income taxes							(15.3)	$ (40.4)
Amounts reclassified from AOCI into income:
Increase (decrease)	$ 0.1			$ 0.6			7.3	0.2
Income tax impact	0			(0.1)			(0.1)	0.1
Amounts reclassified from AOCI into income, net of income taxes	0.1			0.5			7.2	0.3
Net current period other comprehensive income (loss)	89.4			(45.9)			(8.1)	(40.1)
Ending balance	10,561.5						10,561.5
OCI, before Reclassifications, Net of Tax, Attributable to Parent	89.3			(46.4)
Foreign currency translation adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(389.3)		(291.7)	(295.4)		$ (301.4)	(291.7)	(301.4)
Other comprehensive income (loss) before reclassifications, net of income taxes							(15.3)	(40)
Amounts reclassified from AOCI into income:
Increase (decrease)	0			0			7	0
Income tax impact	0			0			0	0
Amounts reclassified from AOCI into income, net of income taxes	0			0			7	0
Net current period other comprehensive income (loss)	89.3			(46)			(8.3)	(40)
Ending balance	(300)	$ (389.3)		(341.4)	$ (295.4)		(300)	(341.4)
OCI, before Reclassifications, Net of Tax, Attributable to Parent	89.3			(46)
Pension & post-retirement plan benefit adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(34.3)		(34.4)	(24.5)		(24.3)	(34.4)	(24.3)
Other comprehensive income (loss) before reclassifications, net of income taxes							0	(0.4)
Amounts reclassified from AOCI into income:
Increase (decrease)	0.1			0.6			0.3	0.2
Income tax impact	0			(0.1)			(0.1)	0.1
Amounts reclassified from AOCI into income, net of income taxes	0.1			0.5			0.2	0.3
Net current period other comprehensive income (loss)	0.1			0.1			0.2	(0.1)
Ending balance	(34.2)	(34.3)		(24.4)	(24.5)		(34.2)	(24.4)
OCI, before Reclassifications, Net of Tax, Attributable to Parent	0			(0.4)
Accumulated Other Comprehensive Loss
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(423.6)	(402.5)	(326.1)	(319.9)	(312.3)	(325.7)	(326.1)	(325.7)
Amounts reclassified from AOCI into income:
Net current period other comprehensive income (loss)	89.4	(21.1)	(76.4)	(45.9)	(7.6)	13.4
Ending balance	$ (334.2)	$ (423.6)	$ (402.5)	$ (365.8)	$ (319.9)	$ (312.3)	$ (334.2)	$ (365.8)

BUSINESS OVERVIEW - Property Sa

BUSINESS OVERVIEW - Property Sale (Details) - USD ($) $ in Millions			1 Months Ended	3 Months Ended		9 Months Ended
	Sep. 27, 2024	Mar. 14, 2024	Aug. 31, 2024	Sep. 27, 2024	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on sale of property				$ 0	$ 0	$ 63.1	$ 0
Pledged charitable contribution						20
Fortive Foundation
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Promissory notes receivable transferred to Not-For-Profit entity	$ 20
Office Building \| Precision Technologies
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Land sale consideration		$ 90
Cash proceeds from sale of property and certain office buildings		20
Promissory notes receivable from sale of property and certain office buildings		$ 70
Proceeds from collection of notes receivable			$ 10
Gain on sale of property						$ 63.1

BUSINESS OVERVIEW - Restructuri

BUSINESS OVERVIEW - Restructuring Narrative (Details) - Facility exit and other related - Discrete Restructuring Plan - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 29, 2023	Sep. 29, 2023	Sep. 27, 2024	Dec. 31, 2023
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 0.9	$ 29.2
Accrued restructuring costs			$ 0	$ 26

ACQUISITIONS - Narrative (Detai

ACQUISITIONS - Narrative (Details) $ in Millions		3 Months Ended	9 Months Ended	12 Months Ended
ACQUISITIONS - Narrative (Details) $ in Millions	Jan. 03, 2024 USD ($)	Sep. 27, 2024 USD ($)	Sep. 27, 2024 USD ($)	Dec. 31, 2023 USD ($) business
Business Acquisition [Line Items]
Goodwill		$ 10,322.3	$ 10,322.3	$ 9,121.7
Precision Technologies
Business Acquisition [Line Items]
Goodwill		3,048.6	3,048.6	1,856.5
Intelligent Operating Solutions
Business Acquisition [Line Items]
Goodwill		4,160.4	4,160.4	4,148.9
EA Elektro-Automatik Holding GmbH
Business Acquisition [Line Items]
Goodwill		1,172.6	1,172.6
Other intangible assets (customer relationships, technology, and trade names)		681.2	681.2
EA Elektro-Automatik Holding GmbH \| Precision Technologies
Business Acquisition [Line Items]
Business combination, consideration transferred	$ 1,720
Goodwill	$ 1,170
Transaction-related costs		$ 1.9	$ 29.3
Q3 2023 Acquisitions \| Intelligent Operating Solutions
Business Acquisition [Line Items]
Business combination, consideration transferred				101.4
Goodwill				$ 57.3
Number of businesses acquired \| business				4
Other intangible assets (customer relationships, technology, and trade names)				$ 43.2

ACQUISITIONS - Schedule of Fair

ACQUISITIONS - Schedule of Fair Value of the Assets Acquired and Liabilities (Details) - USD ($) $ in Millions	Sep. 27, 2024	Dec. 31, 2023
Business Acquisition [Line Items]
Goodwill	$ 10,322.3	$ 9,121.7
EA Elektro-Automatik Holding GmbH
Business Acquisition [Line Items]
Accounts receivable	19.6
Inventories	35.6
Property, plant and equipment	19.7
Goodwill	1,172.6
Other intangible assets (customer relationships, technology, and trade names)	681.2
Deferred tax liabilities	(189.1)
Other assets and liabilities, net	(21.4)
Net cash consideration	$ 1,718.2

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLE ASSETS - Rollforward of Goodwill (Details) $ in Millions	9 Months Ended
	Sep. 27, 2024 USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 9,121.7
Measurement period adjustments for prior year acquisitions	0.6
Attributable to acquisitions	1,172.6
Foreign currency translation and other	27.4
Ending balance	10,322.3
Intelligent Operating Solutions
Goodwill [Roll Forward]
Beginning balance	4,148.9
Measurement period adjustments for prior year acquisitions	0.6
Attributable to acquisitions	0
Foreign currency translation and other	10.9
Ending balance	4,160.4
Precision Technologies
Goodwill [Roll Forward]
Beginning balance	1,856.5
Measurement period adjustments for prior year acquisitions	0
Attributable to acquisitions	1,172.6
Foreign currency translation and other	19.5
Ending balance	3,048.6
Advanced Healthcare Solutions
Goodwill [Roll Forward]
Beginning balance	3,116.3
Measurement period adjustments for prior year acquisitions	0
Attributable to acquisitions	0
Foreign currency translation and other	(3)
Ending balance	$ 3,113.3

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLE ASSETS - Finite and Indefinite Lived Assets (Details) - USD ($) $ in Millions	Sep. 27, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangibles, gross carrying amount	$ 5,518.8	$ 4,825.3
Finite-lived intangible assets, accumulated amortization	(2,619.4)	(2,280.1)
Indefinite-lived Intangible Assets [Line Items]
Intangible assets, gross (excluding goodwill)	6,129.4	5,439.9
Trademarks and trade names
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangibles, gross carrying amount	610.6	614.6
Patents and technology
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangibles, gross carrying amount	1,286.1	1,139.6
Finite-lived intangible assets, accumulated amortization	(788.4)	(687.1)
Customer relationships and other intangibles
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangibles, gross carrying amount	4,055.9	3,568
Finite-lived intangible assets, accumulated amortization	(1,799.9)	(1,573.2)
Trademarks and trade names
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangibles, gross carrying amount	176.8	117.7
Finite-lived intangible assets, accumulated amortization	$ (31.1)	$ (19.8)

GOODWILL AND OTHER INTANGIBLE_5

GOODWILL AND OTHER INTANGIBLE ASSETS - Narrative (Details)	9 Months Ended
GOODWILL AND OTHER INTANGIBLE ASSETS - Narrative (Details)	Sep. 27, 2024
Customer Relationships, Developed Technology and Trade Names
Finite-Lived Intangible Assets [Line Items]
Weighted average life	9 years

FAIR VALUE MEASUREMENTS - Fair

FAIR VALUE MEASUREMENTS - Fair Value Liabilities Measured on Recurring Basis (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Millions	Sep. 27, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation liabilities	$ 46.8	$ 39.9
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	46.8	39.9
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 - Narra

FAIR VALUE MEASUREMENTS - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
FAIR VALUE MEASUREMENTS - Narrative (Details) - USD ($)	Sep. 27, 2024	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023
Fair Value Disclosures [Abstract]
Loss on impairment of equity investment	$ 0		$ 0
Loss from equity investments	$ (26,100,000)	$ (3,800,000)	$ 39,400,000	$ 12,900,000

FAIR VALUE MEASUREMENTS - Carry

FAIR VALUE MEASUREMENTS - Carrying Amounts and Fair Values of Financial Instruments (Details) - USD ($) $ in Millions	Sep. 27, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Current portion of long-term debt	$ 408.1	$ 0
Long-term debt, net of current maturities	3,451.8	3,646.2
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Current portion of long-term debt	408.1	0
Current portion of long-term debt, fair value	408.3	0
Long-term debt, net of current maturities	3,451.8	3,646.2
Long-term debt, net of current maturities fair value	$ 3,407.3	$ 3,539.4

FINANCING - Components of Debt

FINANCING - Components of Debt (Details) - USD ($) $ in Millions	Sep. 27, 2024	Feb. 13, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Long-term debt, principal amounts	$ 3,872.7		$ 3,656.9
Less: aggregate unamortized debt discounts, premiums, and issuance costs	12.8		10.7
Long-term debt, carrying value	3,859.9		3,646.2
Less: current portion of long-term debt, carrying value	408.1		0
Long-term debt, net of current maturities	3,451.8		3,646.2
U.S. dollar-denominated commercial paper \| Commercial Paper
Debt Instrument [Line Items]
Long-term debt, principal amounts	675		1,251.2
Long-term debt, carrying value	673.6
3.7% Euro-denominated senior unsecured notes due 2026 \| Registered Notes
Debt Instrument [Line Items]
Long-term debt, principal amounts	$ 558.1		0
Interest rate, stated percentage	3.70%	3.70%
3.7% Euro-denominated senior unsecured notes due 2029 \| Registered Notes
Debt Instrument [Line Items]
Long-term debt, principal amounts	$ 781.3		0
Interest rate, stated percentage	3.70%	3.70%
Euro Term Loan due 2025 \| Term Loans
Debt Instrument [Line Items]
Long-term debt, principal amounts	$ 307		303.6
Yen Term Loan due 2025 \| Term Loans
Debt Instrument [Line Items]
Long-term debt, principal amounts	101.3		102.1
3.15% senior unsecured notes due 2026 \| Registered Notes
Debt Instrument [Line Items]
Long-term debt, principal amounts	$ 900		900
Interest rate, stated percentage	3.15%
4.30% senior unsecured notes due 2046 \| Registered Notes
Debt Instrument [Line Items]
Long-term debt, principal amounts	$ 550		550
Interest rate, stated percentage	4.30%
Delayed-Draw Term Loan Due 2024 \| Term Loans
Debt Instrument [Line Items]
Long-term debt, principal amounts	$ 0		$ 550

FINANCING - Narrative (Details)

FINANCING - Narrative (Details) € in Millions			9 Months Ended
FINANCING - Narrative (Details) € in Millions	Feb. 13, 2024 USD ($)	Jan. 02, 2024 USD ($)	Sep. 27, 2024 USD ($)	Feb. 13, 2024 EUR (€)
Registered Notes \| Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Redemption price percentage			101%
3.700% Notes due 2026 \| Registered Notes
Debt Instrument [Line Items]
Principal amount \| €				€ 500
Interest rate, stated percentage			3.70%	3.70%
Percentage of face value issued				0.99928
3.700% Notes due 2029 \| Registered Notes
Debt Instrument [Line Items]
Principal amount \| €				€ 700
Interest rate, stated percentage			3.70%	3.70%
Percentage of face value issued				0.99943
Euro-Denominated Senior Notes, 3.7%, Due 2026 and 3.7%, Due 2029
Debt Instrument [Line Items]
Net of issuance costs	$ 1,300,000,000
Euro-Denominated Senior Notes, 3.7%, Due 2026 and 3.7%, Due 2029 \| Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Redemption price, percentage of principal amount redeemable			100%
Euro-Denominated Senior Notes, 3.7%, Due 2026 and 3.7%, Due 2029 \| Registered Notes
Debt Instrument [Line Items]
Redemption price, percentage of principal amount redeemable			100%
Delayed-Draw Term Loan Due 2024 \| Line of Credit
Debt Instrument [Line Items]
Debt, refinanced amount	$ 1,000,000,000
Proceeds from line of credit		$ 450,000,000
Line of credit facility, outstanding		$ 1,000,000,000
U.S. dollar-denominated commercial paper \| Commercial Paper
Debt Instrument [Line Items]
Debt term			30 days
U.S. dollar-denominated commercial paper \| Commercial Paper \| Maximum
Debt Instrument [Line Items]
Debt term			397 days
Euro Denominated Commercial Paper \| Commercial Paper \| Maximum
Debt Instrument [Line Items]
Debt term			183 days
Revolving Credit Facility
Debt Instrument [Line Items]
Debt term			5 years
Maximum borrowing capacity			$ 2,000,000,000
Outstanding borrowings			$ 0

FINANCING - Outstanding Paper P

FINANCING - Outstanding Paper Programs (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 27, 2024	Dec. 31, 2023
Short-term Debt [Line Items]
Carrying value	$ 3,859.9	$ 3,646.2
U.S. dollar-denominated commercial paper \| Commercial Paper
Short-term Debt [Line Items]
Carrying value	$ 673.6
Annual effective rate	5.28%
Weighted average maturity (in days)	30 days

SALES - Narrative (Details)

SALES - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
SALES - Narrative (Details) - USD ($) $ in Millions	Sep. 27, 2024	Sep. 27, 2024	Dec. 31, 2023
Capitalized Contract Cost [Line Items]
Contract assets	$ 121	$ 121	$ 108
Net revenue-related contract assets	59	59	$ 51
Contract liabilities, revenue recognized	$ 91	$ 408
Minimum
Capitalized Contract Cost [Line Items]
Useful life	3 years	3 years
Maximum
Capitalized Contract Cost [Line Items]
Useful life	5 years	5 years

SALES - Contract liabilities (D

SALES - Contract liabilities (Details) - USD ($) $ in Millions	Sep. 27, 2024	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Deferred revenue - current	$ 510.8	$ 544.6
Deferred revenue - noncurrent	48.7	45.8
Total contract liabilities	$ 559.5	$ 590.4

SALES - Revenue, Remaining Perf

SALES - Revenue, Remaining Performance Obligation (Details) $ in Millions	Sep. 27, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 728.5
Operating Segments \| Intelligent Operating Solutions
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	593.5
Operating Segments \| Precision Technologies
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	59.7
Operating Segments \| Advanced Healthcare Solutions
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 75.3

SALES - Remaining Performance O

SALES - Remaining Performance Obligation, Expected Timing (Details) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-09-28	Sep. 27, 2024
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percentage	100%
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	95%
Remaining performance obligation, expected timing	3 years
Period Three
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, expected timing	4 years

SALES - Disaggregation of Reven

SALES - Disaggregation of Revenue (Details) $ in Millions	3 Months Ended		9 Months Ended
SALES - Disaggregation of Revenue (Details) $ in Millions	Sep. 27, 2024 USD ($)	Sep. 29, 2023 USD ($)	Sep. 27, 2024 USD ($)	Sep. 29, 2023 USD ($)
Disaggregation of Revenue [Line Items]
Total sales	$ 1,534.6	$ 1,494.5	$ 4,611.5	$ 4,481.6
Healthcare
Disaggregation of Revenue [Line Items]
Total sales	363.2	353.3	1,069.3	1,052.3
Industrial & Manufacturing
Disaggregation of Revenue [Line Items]
Total sales	321.4	340.1	1,001.4	1,051.1
Government
Disaggregation of Revenue [Line Items]
Total sales	163.4	145.5	431.8	389.5
Utilities & Power
Disaggregation of Revenue [Line Items]
Total sales	108.3	105.3	314.3	308.8
Communications, Electronics & Semiconductor
Disaggregation of Revenue [Line Items]
Total sales	82.9	101.1	267.8	304.4
Aerospace & Defense
Disaggregation of Revenue [Line Items]
Total sales	76.9	74.9	243.7	218.8
Retail & Consumer
Disaggregation of Revenue [Line Items]
Total sales	87.5	82.4	244.9	249.7
Oil & Gas
Disaggregation of Revenue [Line Items]
Total sales	70.9	70.6	215.7	212.5
Other
Disaggregation of Revenue [Line Items]
Total sales	170	167.3	534.1	519
Total direct sales
Disaggregation of Revenue [Line Items]
Total sales	1,444.5	1,440.5	4,323	4,306.1
Distributors
Disaggregation of Revenue [Line Items]
Total sales	90.1	54	288.5	175.5
United States
Disaggregation of Revenue [Line Items]
Total sales	841.9	833.7	2,472.1	2,433
China
Disaggregation of Revenue [Line Items]
Total sales	153.8	162.1	495.2	522.4
All other (each country individually less than 5% of total sales)
Disaggregation of Revenue [Line Items]
Total sales	$ 538.9	$ 498.7	$ 1,644.2	$ 1,526.2
Percentage of total sales	0.05	0.05	0.05	0.05
Operating Segments
Disaggregation of Revenue [Line Items]
Total sales	$ 1,534.6	$ 1,494.5
Operating Segments \| Intelligent Operating Solutions
Disaggregation of Revenue [Line Items]
Total sales	661.2	644.3	$ 2,003.9	$ 1,929.5
Operating Segments \| Intelligent Operating Solutions \| Healthcare
Disaggregation of Revenue [Line Items]
Total sales	10.3	10.9	32.7	33.4
Operating Segments \| Intelligent Operating Solutions \| Industrial & Manufacturing
Disaggregation of Revenue [Line Items]
Total sales	227.2	226.3	705.4	687.2
Operating Segments \| Intelligent Operating Solutions \| Government
Disaggregation of Revenue [Line Items]
Total sales	80.7	73.2	230.5	212.2
Operating Segments \| Intelligent Operating Solutions \| Utilities & Power
Disaggregation of Revenue [Line Items]
Total sales	48.6	46.5	146.6	140.1
Operating Segments \| Intelligent Operating Solutions \| Communications, Electronics & Semiconductor
Disaggregation of Revenue [Line Items]
Total sales	27.9	24.7	81.3	73.6
Operating Segments \| Intelligent Operating Solutions \| Aerospace & Defense
Disaggregation of Revenue [Line Items]
Total sales	0.1	0.1	0.3	0.4
Operating Segments \| Intelligent Operating Solutions \| Retail & Consumer
Disaggregation of Revenue [Line Items]
Total sales	69.7	64.8	196.9	189.2
Operating Segments \| Intelligent Operating Solutions \| Oil & Gas
Disaggregation of Revenue [Line Items]
Total sales	68.1	68.3	206.9	201.8
Operating Segments \| Intelligent Operating Solutions \| Other
Disaggregation of Revenue [Line Items]
Total sales	91.6	96.9	287.5	292
Operating Segments \| Intelligent Operating Solutions \| Total direct sales
Disaggregation of Revenue [Line Items]
Total sales	624.2	611.7	1,888.1	1,829.9
Operating Segments \| Intelligent Operating Solutions \| Distributors
Disaggregation of Revenue [Line Items]
Total sales	37	32.6	115.8	99.6
Operating Segments \| Intelligent Operating Solutions \| United States
Disaggregation of Revenue [Line Items]
Total sales	375	366.1	1,105.3	1,068.2
Operating Segments \| Intelligent Operating Solutions \| China
Disaggregation of Revenue [Line Items]
Total sales	50.7	52.5	171	176
Operating Segments \| Intelligent Operating Solutions \| All other (each country individually less than 5% of total sales)
Disaggregation of Revenue [Line Items]
Total sales	235.5	225.7	727.6	685.3
Operating Segments \| Precision Technologies
Disaggregation of Revenue [Line Items]
Total sales	550.9	552.5	1,661.7	1,653.9
Operating Segments \| Precision Technologies \| Healthcare
Disaggregation of Revenue [Line Items]
Total sales	48	56.9	142.7	168.5
Operating Segments \| Precision Technologies \| Industrial & Manufacturing
Disaggregation of Revenue [Line Items]
Total sales	89.9	109.9	282.5	351.2
Operating Segments \| Precision Technologies \| Government
Disaggregation of Revenue [Line Items]
Total sales	72.6	64	172.8	151.9
Operating Segments \| Precision Technologies \| Utilities & Power
Disaggregation of Revenue [Line Items]
Total sales	59.7	58.8	167.7	168.7
Operating Segments \| Precision Technologies \| Communications, Electronics & Semiconductor
Disaggregation of Revenue [Line Items]
Total sales	55	76.4	186.5	230.8
Operating Segments \| Precision Technologies \| Aerospace & Defense
Disaggregation of Revenue [Line Items]
Total sales	76.8	74.8	243.4	218.4
Operating Segments \| Precision Technologies \| Retail & Consumer
Disaggregation of Revenue [Line Items]
Total sales	17.8	17.6	48	60.5
Operating Segments \| Precision Technologies \| Oil & Gas
Disaggregation of Revenue [Line Items]
Total sales	2.8	2.3	8.8	10.7
Operating Segments \| Precision Technologies \| Other
Disaggregation of Revenue [Line Items]
Total sales	78.4	70.4	246.6	227
Operating Segments \| Precision Technologies \| Total direct sales
Disaggregation of Revenue [Line Items]
Total sales	501	531.1	1,499	1,587.7
Operating Segments \| Precision Technologies \| Distributors
Disaggregation of Revenue [Line Items]
Total sales	49.9	21.4	162.7	66.2
Operating Segments \| Precision Technologies \| United States
Disaggregation of Revenue [Line Items]
Total sales	282.8	304.6	837.9	865.9
Operating Segments \| Precision Technologies \| China
Disaggregation of Revenue [Line Items]
Total sales	76.1	82.6	245.6	269
Operating Segments \| Precision Technologies \| All other (each country individually less than 5% of total sales)
Disaggregation of Revenue [Line Items]
Total sales	192	165.3	578.2	519
Operating Segments \| Advanced Healthcare Solutions
Disaggregation of Revenue [Line Items]
Total sales	322.5	297.7	945.9	898.2
Operating Segments \| Advanced Healthcare Solutions \| Healthcare
Disaggregation of Revenue [Line Items]
Total sales	304.9	285.5	893.9	850.4
Operating Segments \| Advanced Healthcare Solutions \| Industrial & Manufacturing
Disaggregation of Revenue [Line Items]
Total sales	4.3	3.9	13.5	12.7
Operating Segments \| Advanced Healthcare Solutions \| Government
Disaggregation of Revenue [Line Items]
Total sales	10.1	8.3	28.5	25.4
Operating Segments \| Advanced Healthcare Solutions \| Utilities & Power
Disaggregation of Revenue [Line Items]
Total sales	0	0	0	0
Operating Segments \| Advanced Healthcare Solutions \| Communications, Electronics & Semiconductor
Disaggregation of Revenue [Line Items]
Total sales	0	0	0	0
Operating Segments \| Advanced Healthcare Solutions \| Aerospace & Defense
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 \| Oil & Gas
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	0
Operating Segments \| Advanced Healthcare Solutions \| Total direct sales
Disaggregation of Revenue [Line Items]
Total sales	319.3	297.7	935.9	888.5
Operating Segments \| Advanced Healthcare Solutions \| Distributors
Disaggregation of Revenue [Line Items]
Total sales	3.2	0	10	9.7
Operating Segments \| Advanced Healthcare Solutions \| United States
Disaggregation of Revenue [Line Items]
Total sales	184.1	163	528.9	498.9
Operating Segments \| Advanced Healthcare Solutions \| China
Disaggregation of Revenue [Line Items]
Total sales	27	27	78.6	77.4
Operating Segments \| Advanced Healthcare Solutions \| All other (each country individually less than 5% of total sales)
Disaggregation of Revenue [Line Items]
Total sales	111.4	107.7	338.4	321.9
Sales of products and software
Disaggregation of Revenue [Line Items]
Total sales	1,293.4	1,258.9	3,902.2	3,786.3
Sales of products and software \| Operating Segments \| Intelligent Operating Solutions
Disaggregation of Revenue [Line Items]
Total sales	549.4	538.4	1,679.6	1,622.2
Sales of products and software \| Operating Segments \| Precision Technologies
Disaggregation of Revenue [Line Items]
Total sales	490.6	491.7	1,481.5	1,469.8
Sales of products and software \| Operating Segments \| Advanced Healthcare Solutions
Disaggregation of Revenue [Line Items]
Total sales	253.4	228.8	741.1	694.3
Sales of services
Disaggregation of Revenue [Line Items]
Total sales	241.2	235.6	709.3	695.3
Sales of services \| Operating Segments \| Intelligent Operating Solutions
Disaggregation of Revenue [Line Items]
Total sales	111.8	105.9	324.3	307.3
Sales of services \| Operating Segments \| Precision Technologies
Disaggregation of Revenue [Line Items]
Total sales	60.3	60.8	180.2	184.1
Sales of services \| Operating Segments \| Advanced Healthcare Solutions
Disaggregation of Revenue [Line Items]
Total sales	$ 69.1	$ 68.9	$ 204.8	$ 203.9

INCOME TAXES (Details)

INCOME TAXES (Details)	3 Months Ended		9 Months Ended
INCOME TAXES (Details)	Sep. 27, 2024	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023
Income Tax Disclosure [Abstract]
Effective tax rate (as a percent)	4.60%	15.20%	10.20%	15.80%

STOCK-BASED COMPENSATION - Narr

STOCK-BASED COMPENSATION - Narrative (Details) shares in Millions	9 Months Ended
	Sep. 27, 2024 shares
Share-Based Payment Arrangement [Abstract]
Shares of common stock reserved for issuance under the stock plan (in shares)	12
Remaining service period related to the awards	2 years

STOCK-BASED COMPENSATION - Stoc

STOCK-BASED COMPENSATION - Stock Based Compensation (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 27, 2024	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pretax compensation expense	$ 27.9	$ 29.5	$ 81	$ 85.2
Income tax benefit	(4.4)	(4.4)	(12.2)	(12.2)
Total stock-based compensation expense, net of income taxes	23.5	25.1	68.8	73
Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pretax compensation expense	19.5	20.6	56.6	58.6
Income tax benefit	(3.1)	(3.1)	(8.6)	(8.4)
Total stock-based compensation expense, net of income taxes	16.4	17.5	48	50.2
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pretax compensation expense	8.4	8.9	24.4	26.6
Income tax benefit	(1.3)	(1.3)	(3.6)	(3.8)
Total stock-based compensation expense, net of income taxes	$ 7.1	$ 7.6	$ 20.8	$ 22.8

STOCK-BASED COMPENSATION - Unre

STOCK-BASED COMPENSATION - Unrecognized Compensation Cost (Details) $ in Millions	Sep. 27, 2024 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost	$ 166.5
Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost	46.3
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost	$ 120.2

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 27, 2024	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Warranty period - minimum			90 days
Operating lease cost	$ 12	$ 13	$ 37	$ 37
Cash paid for operating leases			36	36
ROU assets obtained in exchange for operating lease obligations			30	$ 29
Operating lease, right-of-use asset	174		174		$ 155
Operating lease liabilities	$ 181		$ 181		$ 164

NET EARNINGS PER SHARE - Antidi

NET EARNINGS PER SHARE - Antidilutive Securities Narrative (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 27, 2024	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	1.5	0.1	1.2	0.5

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		9 Months Ended
	Sep. 27, 2024	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023
Numerator
Net earnings	$ 221.6	$ 218	$ 624.1	$ 600.6
Denominator
Weighted average common shares outstanding used in basic earnings per share (in shares)	349.2	352.1	350.7	352.9
Incremental common shares from:
Assumed exercise of dilutive options and vesting of dilutive Stock Awards (in shares)	3.1	4	3.7	3.1
Weighted average common shares outstanding used in diluted earnings per share (in shares)	352.3	356.1	354.4	356
Net earnings per common share - Basic (in dollars per share)	$ 0.63	$ 0.62	$ 1.78	$ 1.70
Net earnings per common share - Diluted (in dollars per share)	$ 0.63	$ 0.61	$ 1.76	$ 1.69

NET EARNINGS PER SHARE - Divide

NET EARNINGS PER SHARE - Dividends Declared and Paid (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended						9 Months Ended
	Sep. 27, 2024	Jun. 28, 2024	Mar. 29, 2024	Sep. 29, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 27, 2024	Sep. 29, 2023
Earnings Per Share [Abstract]
Dividend Per Common Share (in dollars per share)	$ 0.08	$ 0.08	$ 0.08	$ 0.07	$ 0.07	$ 0.07	$ 0.24	$ 0.21
Amount ($ in millions)	$ 27.8	$ 28	$ 28.1	$ 24.6	$ 24.6	$ 24.7	$ 83.9	$ 73.9

NET EARNINGS PER SHARE - Share

NET EARNINGS PER SHARE - Share Repurchase Program Narrative (Details) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 27, 2024	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023	Jan. 23, 2024	Feb. 17, 2022
Earnings Per Share [Abstract]
Number of shares authorized to be repurchased (in shares)					11,000,000	20,000,000
Number of remaining shares authorized to be repurchased (in shares)	14,200,000		14,200,000
Common stock repurchases (in shares)	3,800,000	1,000,000	5,800,000	3,000,000
Common stock average price (in dollar per share)	$ 70.87	$ 78.74	$ 72.78	$ 69.27

SEGMENT INFORMATION - Narrative

SEGMENT INFORMATION - Narrative (Details)	9 Months Ended
SEGMENT INFORMATION - Narrative (Details)	Sep. 27, 2024 segment
Segment Reporting [Abstract]
Number of operating segments	3

SEGMENT INFORMATION - Detailed

SEGMENT INFORMATION - Detailed Segment Data (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 27, 2024	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023
Segment Reporting Information [Line Items]
Total sales	$ 1,534.6	$ 1,494.5	$ 4,611.5	$ 4,481.6
Total Operating Profit	295.5	291.1	899.5	822.8
Interest expense, net	(37)	(29.8)	(119.7)	(95)
Loss from divestiture	0	0	(25.6)	0
Other non-operating expense, net	(26.3)	(4.2)	(59.3)	(14.5)
Earnings before income taxes	232.2	257.1	694.9	713.3
Precision Technologies
Segment Reporting Information [Line Items]
Loss from divestiture			(25.6)
Operating Segments
Segment Reporting Information [Line Items]
Total sales	1,534.6	1,494.5
Total Operating Profit	295.5	291.1	899.5	822.8
Operating Segments \| Intelligent Operating Solutions
Segment Reporting Information [Line Items]
Total sales	661.2	644.3	2,003.9	1,929.5
Total Operating Profit	167.7	156.8	505	452
Operating Segments \| Precision Technologies
Segment Reporting Information [Line Items]
Total sales	550.9	552.5	1,661.7	1,653.9
Total Operating Profit	122	140.9	386.4	401.3
Operating Segments \| Advanced Healthcare Solutions
Segment Reporting Information [Line Items]
Total sales	322.5	297.7	945.9	898.2
Total Operating Profit	41	25	108.7	65.8
Other
Segment Reporting Information [Line Items]
Total Operating Profit	$ (35.2)	$ (31.6)	$ (100.6)	$ (96.3)