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Fortive Corp – ‘10-Q’ for 6/26/20 – ‘JSON’

On:  Tuesday, 7/28/20, at 4:25pm ET   ·   For:  6/26/20   ·   Accession #:  1659166-20-136   ·   File #:  1-37654

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  As Of               Filer                 Filing    For·On·As Docs:Size

 7/28/20  Fortive Corp                      10-Q        6/26/20   80:10M

Quarterly Report   —   Form 10-Q   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Quarterly Report                                    HTML   1.10M 
 2: EX-10.1     Material Contract                                   HTML     27K 
 3: EX-31.1     Certification -- §302 - SOA'02                      HTML     26K 
 4: EX-31.2     Certification -- §302 - SOA'02                      HTML     26K 
 5: EX-32.1     Certification -- §906 - SOA'02                      HTML     23K 
 6: EX-32.2     Certification -- §906 - SOA'02                      HTML     23K 
13: R1          Cover                                               HTML     78K 
14: R2          Consolidated Condensed Balance Sheets               HTML    128K 
15: R3          Consolidated Condensed Balance Sheets               HTML     43K 
                (Parenthetical)                                                  
16: R4          Consolidated Condensed Statements of Earnings       HTML    135K 
17: R5          Consolidated Condensed Statements of Comprehensive  HTML     44K 
                Income                                                           
18: R6          Consolidated Condensed Statements of Changes in     HTML    109K 
                Equity                                                           
19: R7          Consolidated Condensed Statements of Changes in     HTML     24K 
                Equity (Parenthetical)                                           
20: R8          Consolidated Condensed Statements of Cash Flows     HTML     99K 
21: R9          Consolidated Condensed Statements of Cash Flows     HTML     23K 
                (Parenthetical)                                                  
22: R10         Business Overview                                   HTML    143K 
23: R11         Acquisitions                                        HTML     42K 
24: R12         Goodwill                                            HTML     47K 
25: R13         Fair Value Measurements                             HTML     57K 
26: R14         Financing and Capital                               HTML     69K 
27: R15         Sales                                               HTML    331K 
28: R16         Pension Plans                                       HTML     72K 
29: R17         Income Taxes                                        HTML     28K 
30: R18         Stock-Based Compensation                            HTML     66K 
31: R19         Commitments and Contingencies                       HTML     33K 
32: R20         Net Earnings Per Share                              HTML     97K 
33: R21         Segment Information                                 HTML     71K 
34: R22         Business Overview (Policies)                        HTML     47K 
35: R23         Business Overview (Tables)                          HTML    138K 
36: R24         Acquisitions (Tables)                               HTML     33K 
37: R25         Goodwill (Tables)                                   HTML     39K 
38: R26         Fair Value Measurements (Tables)                    HTML     51K 
39: R27         Financing and Capital (Tables)                      HTML     52K 
40: R28         Sales (Tables)                                      HTML    325K 
41: R29         Pension Plans (Tables)                              HTML     66K 
42: R30         Stock-Based Compensation (Tables)                   HTML     66K 
43: R31         Commitments and Contingencies (Tables)              HTML     30K 
44: R32         Net Earnings Per Share (Tables)                     HTML     95K 
45: R33         Segment Information (Tables)                        HTML     67K 
46: R34         Business Overview - Narrative (Details)             HTML     50K 
47: R35         Business Overview - Accumulated Other               HTML     68K 
                Comprehensive Income (Details)                                   
48: R36         Business Overview - Allowance for Credit Losses     HTML     32K 
                Rollforward (Details)                                            
49: R37         Acquisitions - Narrative (Details)                  HTML     44K 
50: R38         Acquisitions - Advanced Sterilization Products      HTML     43K 
                Assets Acquired and Liabilities Assumed (Details)                
51: R39         Goodwill - Rollforward of Goodwill (Details)        HTML     40K 
52: R40         Goodwill - Narrative (Details)                      HTML     32K 
53: R41         Fair Value Measurements - Fair Value Liabilities    HTML     31K 
                Measured on Recurring Basis (Details)                            
54: R42         Fair Value Measurements - Narrative (Details)       HTML     27K 
55: R43         Fair Value Measurements - Carrying Amounts and      HTML     33K 
                Fair Values of Financial Instruments (Details)                   
56: R44         Financing and Capital - Components of Debt          HTML     61K 
                (Details)                                                        
57: R45         Financing and Capital - Narrative (Details)         HTML    243K 
58: R46         Sales - Contract Assets (Details)                   HTML     23K 
59: R47         Sales - Contract Costs (Details)                    HTML     31K 
60: R48         Sales - Contract liabilities (Details)              HTML     31K 
61: R49         Sales - Revenue, Remaining Performance Obligation   HTML     28K 
                (Details)                                                        
62: R50         Sales - Remaining Performance Obligation, Expected  HTML     32K 
                Timing (Details)                                                 
63: R51         Sales - Disaggregation of Revenue (Details)         HTML    123K 
64: R52         Pension Plans - Components of Net Periodic Pension  HTML     46K 
                Cost (Details)                                                   
65: R53         Pension Plans - Narrative (Details)                 HTML     27K 
66: R54         Income Taxes - Narrative (Details)                  HTML     23K 
67: R55         Stock-Based Compensation - Narrative (Details)      HTML     25K 
68: R56         Stock-Based Compensation - Summary of Stock-Based   HTML     35K 
                Compensation Expense (Details)                                   
69: R57         Stock-Based Compensation - Unrecognized             HTML     27K 
                Compensation Cost (Details)                                      
70: R58         Commitments and Contingencies - Rollforward of      HTML     36K 
                Accrued Warranty Liability (Details)                             
71: R59         Commitment and Contingencies - Narrative (Details)  HTML     37K 
72: R60         Net Earnings Per Share - Narrative (Details)        HTML     28K 
73: R61         Net Earnings Per Share - Earnings per Share         HTML     54K 
                (Details)                                                        
74: R62         Net Earnings Per Share - Dividends Declared and     HTML     30K 
                Paid (Details)                                                   
75: R63         Segment Information - Narrative (Details)           HTML     22K 
76: R64         Segment Information - Detailed Segment Data         HTML     49K 
                (Details)                                                        
78: XML         IDEA XML File -- Filing Summary                      XML    138K 
12: XML         XBRL Instance -- ftv-20200626_htm                    XML   3.46M 
77: EXCEL       IDEA Workbook of Financial Reports                  XLSX    100K 
 8: EX-101.CAL  XBRL Calculations -- ftv-20200626_cal                XML    199K 
 9: EX-101.DEF  XBRL Definitions -- ftv-20200626_def                 XML    626K 
10: EX-101.LAB  XBRL Labels -- ftv-20200626_lab                      XML   1.35M 
11: EX-101.PRE  XBRL Presentations -- ftv-20200626_pre               XML    862K 
 7: EX-101.SCH  XBRL Schema -- ftv-20200626                          XSD    138K 
79: JSON        XBRL Instance as JSON Data -- MetaLinks              358±   500K 
80: ZIP         XBRL Zipped Folder -- 0001659166-20-000136-xbrl      Zip    320K 


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                            "documentation":  "The amount of preferred stock dividends that is an adjustment to net income apportioned to common stockholders.",
                            "label":  "Preferred Stock Dividends, Income Statement Impact",
                            "negatedLabel":  "Mandatory convertible preferred stock cumulative dividends",
                            "negatedTerseLabel":  "Mandatory convertible preferred dividends"
                            }
                        }
                    },
                "localname":  "PreferredStockDividendsIncomeStatementImpact",
                "nsuri":  "http://fasb.org/us-gaap/2020-01-31",
                "presentation":  [
                    "http://fortive.com/role/ConsolidatedCondensedStatementsofEarnings",
                    "http://fortive.com/role/NetEarningsPerShareEarningsperShareDetails"
                    ],
                "xbrltype":  "monetaryItemType"
                },
            "us-gaap_PreferredStockDividendsPerShareCashPaid":  {
                "auth_ref":  [
                    ],
                "lang":  {
                    "en-US":  {
                        "role":  {
                            "documentation":  "Aggregate dividends paid during the period for each share of preferred stock outstanding.",
                            "label":  "Preferred Stock, Dividends, Per Share, Cash Paid",
                            "terseLabel":  "Dividend per share on MCPS (in dollars per share)"
                            }
                        }
                    },
                "localname":  "PreferredStockDividendsPerShareCashPaid",
                "nsuri":  "http://fasb.org/us-gaap/2020-01-31",
                "presentation":  [
                    "http://fortive.com/role/NetEarningsPerShareDividendsDeclaredandPaidDetails"
                    ],
                "xbrltype":  "perShareItemType"
                },
            "us-gaap_PreferredStockMember":  {
                "auth_ref":  [
                    ],
                "lang":  {
                    "en-US":  {
                        "role":  {
                            "documentation":  "Preferred shares may provide a preferential dividend to the dividend on common stock and may take precedence over common stock in the event of a liquidation.  Preferred shares typically represent an ownership interest in the company.",
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                            "terseLabel":  "Preferred Stock"
                            }
                        }
                    },
                "localname":  "PreferredStockMember",
                "nsuri":  "http://fasb.org/us-gaap/2020-01-31",
                "presentation":  [
                    "http://fortive.com/role/ConsolidatedCondensedStatementsofChangesinEquity",
                    "http://fortive.com/role/Cover"
                    ],
                "xbrltype":  "domainItemType"
                },
            "us-gaap_PreferredStockParOrStatedValuePerShare":  {
                "auth_ref":  [
                    "r27"
                    ],
                "lang":  {
                    "en-US":  {
                        "role":  {
                            "documentation":  "Face amount or stated value per share of preferred stock nonredeemable or redeemable solely at the option of the issuer.",
                            "label":  "Preferred Stock, Par or Stated Value Per Share",
                            "terseLabel":  "Preferred stock, par value (in dollars per share)"
                            }
                        }
                    },
                "localname":  "PreferredStockParOrStatedValuePerShare",
                "nsuri":  "http://fasb.org/us-gaap/2020-01-31",
                "presentation":  [
                    "http://fortive.com/role/ConsolidatedCondensedBalanceSheetsParenthetical"
                    ],
                "xbrltype":  "perShareItemType"
                },
            "us-gaap_PreferredStockSharesAuthorized":  {
                "auth_ref":  [
                    "r27"
                    ],
                "lang":  {
                    "en-US":  {
                        "role":  {
                            "documentation":  "The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws.",
                            "label":  "Preferred Stock, Shares Authorized",
                            "terseLabel":  "Preferred stock, shares authorized (in shares)"
                            }
                        }
                    },
                "localname":  "PreferredStockSharesAuthorized",
                "nsuri":  "http://fasb.org/us-gaap/2020-01-31",
                "presentation":  [
                    "http://fortive.com/role/ConsolidatedCondensedBalanceSheetsParenthetical"
                    ],
                "xbrltype":  "sharesItemType"
                },
            "us-gaap_PreferredStockSharesIssued":  {
                "auth_ref":  [
                    "r27"
                    ],
                "lang":  {
                    "en-US":  {
                        "role":  {
                            "documentation":  "Total number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased, and remain in the treasury).  May be all or portion of the number of preferred shares authorized.  Excludes preferred shares that are classified as debt.",
                            "label":  "Preferred Stock, Shares Issued",
                            "terseLabel":  "Preferred stock, shares issued (in shares)"
                            }
                        }
                    },
                "localname":  "PreferredStockSharesIssued",
                "nsuri":  "http://fasb.org/us-gaap/2020-01-31",
                "presentation":  [
                    "http://fortive.com/role/ConsolidatedCondensedBalanceSheetsParenthetical"
                    ],
                "xbrltype":  "sharesItemType"
                },
            "us-gaap_PreferredStockSharesOutstanding":  {
                "auth_ref":  [
                    "r27"
                    ],
                "lang":  {
                    "en-US":  {
                        "role":  {
                            "documentation":  "Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders.  Does not include preferred shares that have been repurchased.",
                            "label":  "Preferred Stock, Shares Outstanding",
                            "terseLabel":  "Preferred stock, shares outstanding (in shares)"
                            }
                        }
                    },
                "localname":  "PreferredStockSharesOutstanding",
                "nsuri":  "http://fasb.org/us-gaap/2020-01-31",
                "presentation":  [
                    "http://fortive.com/role/ConsolidatedCondensedBalanceSheetsParenthetical"
                    ],
                "xbrltype":  "sharesItemType"
                },
            "us-gaap_PreferredStockValue":  {
                "auth_ref":  [
                    "r27"
                    ],
                "calculation":  {
                    "http://fortive.com/role/ConsolidatedCondensedBalanceSheets":  {
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                        "parentTag":  "us-gaap_StockholdersEquity",
                        "weight":  1.0
                        }
                    },
                "crdr":  "credit",
                "lang":  {
                    "en-US":  {
                        "role":  {
                            "documentation":  "Aggregate par or stated value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer).  This item includes treasury stock repurchased by the entity.  Note: elements for number of nonredeemable preferred shares, par value and other disclosure concepts are in another section within stockholders' equity.",
                            "label":  "Preferred Stock, Value, Issued",
                            "terseLabel":  "Preferred stock: $0.01 par value, 15.0 million shares authorized; 5.0% Mandatory convertible preferred stock, series A, 1.4 million shares designated, issued and outstanding at June 26, 2020 and December 31, 2019"
                            }
                        }
                    },
                "localname":  "PreferredStockValue",
                "nsuri":  "http://fasb.org/us-gaap/2020-01-31",
                "presentation":  [
                    "http://fortive.com/role/ConsolidatedCondensedBalanceSheets"
                    ],
                "xbrltype":  "monetaryItemType"
                },
            "us-gaap_PrepaidExpenseAndOtherAssetsCurrent":  {
                "auth_ref":  [
                    "r18",
                    "r39",
                    "r40"
                    ],
                "calculation":  {
                    "http://fortive.com/role/ConsolidatedCondensedBalanceSheets":  {
                        "order":  4.0,
                        "parentTag":  "us-gaap_AssetsCurrent",
                        "weight":  1.0
                        }
                    },
                "crdr":  "debit",
                "lang":  {
                    "en-US":  {
                        "role":  {
                            "documentation":  "Amount of asset related to consideration paid in advance for costs that provide economic benefits in future periods, and amount of other assets that are expected to be realized or consumed within one year or the normal operating cycle, if longer.",
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                            "terseLabel":  "Prepaid expenses and other current assets"
                            }
                        }
                    },
                "localname":  "PrepaidExpenseAndOtherAssetsCurrent",
                "nsuri":  "http://fasb.org/us-gaap/2020-01-31",
                "presentation":  [
                    "http://fortive.com/role/ConsolidatedCondensedBalanceSheets"
                    ],
                "xbrltype":  "monetaryItemType"
                },
            "us-gaap_ProceedsFromConvertibleDebt":  {
                "auth_ref":  [
                    "r95"
                    ],
                "crdr":  "debit",
                "lang":  {
                    "en-US":  {
                        "role":  {
                            "documentation":  "The cash inflow from the issuance of a long-term debt instrument which can be exchanged for a specified amount of another security, typically the entity's common stock, at the option of the issuer or the holder.",
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                            "terseLabel":  "Proceeds from the issuance of convertible notes"
                            }
                        }
                    },
                "localname":  "ProceedsFromConvertibleDebt",
                "nsuri":  "http://fasb.org/us-gaap/2020-01-31",
                "presentation":  [
                    "http://fortive.com/role/FinancingandCapitalNarrativeDetails"
                    ],
                "xbrltype":  "monetaryItemType"
                },
            "us-gaap_ProceedsFromDebtMaturingInMoreThanThreeMonths":  {
                "auth_ref":  [
                    "r95"
                    ],
                "calculation":  {
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                        "parentTag":  "us-gaap_NetCashProvidedByUsedInFinancingActivities",
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                        }
                    },
                "crdr":  "debit",
                "lang":  {
                    "en-US":  {
                        "role":  {
                            "documentation":  "The cash inflow from a borrowing having initial term of repayment of more than three months.  Includes proceeds from long-term and short-term debt.",
                            "label":  "Proceeds from Debt, Maturing in More than Three Months",
                            "terseLabel":  "Proceeds from borrowings (maturities longer than 90 days), net of issuance costs of $8 million and $24 million in 2020 and 2019, respectively"
                            }
                        }
                    },
                "localname":  "ProceedsFromDebtMaturingInMoreThanThreeMonths",
                "nsuri":  "http://fasb.org/us-gaap/2020-01-31",
                "presentation":  [
                    "http://fortive.com/role/ConsolidatedCondensedStatementsofCashFlows"
                    ],
                "xbrltype":  "monetaryItemType"
                },
            "us-gaap_ProceedsFromLinesOfCredit":  {
                "auth_ref":  [
                    "r95",
                    "r115"
                    ],
                "crdr":  "debit",
                "lang":  {
                    "en-US":  {
                        "role":  {
                            "documentation":  "Amount of cash inflow from contractual arrangement with the lender, including but not limited to, letter of credit, standby letter of credit and revolving credit arrangements.",
                            "label":  "Proceeds from Lines of Credit",
                            "terseLabel":  "Proceeds from line of credit"
                            }
                        }
                    },
                "localname":  "ProceedsFromLinesOfCredit",
                "nsuri":  "http://fasb.org/us-gaap/2020-01-31",
                "presentation":  [
                    "http://fortive.com/role/FinancingandCapitalNarrativeDetails"
                    ],
                "xbrltype":  "monetaryItemType"
                },
            "us-gaap_ProceedsFromPaymentsForOtherFinancingActivities":  {
                "auth_ref":  [
                    "r96",
                    "r100",
                    "r116"
                    ],
                "calculation":  {
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                        "order":  5.0,
                        "parentTag":  "us-gaap_NetCashProvidedByUsedInFinancingActivities",
                        "weight":  1.0
                        }
                    },
                "crdr":  "debit",
                "lang":  {
                    "en-US":  {
                        "role":  {
                            "documentation":  "Amount of cash inflow (outflow) from financing activities classified as other.",
                            "label":  "Proceeds from (Payments for) Other Financing Activities",
                            "terseLabel":  "All other financing activities"
                            }
                        }
                    },
                "localname":  "ProceedsFromPaymentsForOtherFinancingActivities",
                "nsuri":  "http://fasb.org/us-gaap/2020-01-31",
                "presentation":  [
                    "http://fortive.com/role/ConsolidatedCondensedStatementsofCashFlows"
                    ],
                "xbrltype":  "monetaryItemType"
                },
            "us-gaap_ProceedsFromRepaymentsOfCommercialPaper":  {
                "auth_ref":  [
                    "r95",
                    "r98",
                    "r108"
                    ],
                "calculation":  {
                    "http://fortive.com/role/ConsolidatedCondensedStatementsofCashFlows":  {
                        "order":  2.0,
                        "parentTag":  "us-gaap_NetCashProvidedByUsedInFinancingActivities",
                        "weight":  1.0
                        }
                    },
                "crdr":  "debit",
                "lang":  {
                    "en-US":  {
                        "role":  {
                            "documentation":  "The net cash inflow or cash outflow from issuing (borrowing) and repaying commercial paper.",
                            "label":  "Proceeds from (Repayments of) Commercial Paper",
                            "terseLabel":  "Net proceeds from (repayments of) commercial paper borrowings"
                            }
                        }
                    },
                "localname":  "ProceedsFromRepaymentsOfCommercialPaper",
                "nsuri":  "http://fasb.org/us-gaap/2020-01-31",
                "presentation":  [
                    "http://fortive.com/role/ConsolidatedCondensedStatementsofCashFlows"
                    ],
                "xbrltype":  "monetaryItemType"
                },
            "us-gaap_ProceedsFromSaleOfOtherAssetsInvestingActivities":  {
                "auth_ref":  [
                    "r91"
                    ],
                "calculation":  {
                    "http://fortive.com/role/ConsolidatedCondensedStatementsofCashFlows":  {
                        "order":  4.0,
                        "parentTag":  "us-gaap_NetCashProvidedByUsedInInvestingActivities",
                        "weight":  1.0
                        }
                    },
                "crdr":  "debit",
                "lang":  {
                    "en-US":  {
                        "role":  {
                            "documentation":  "Amount of cash inflow from the sale of other assets recognized in investing activities.",
                            "label":  "Proceeds from Sale of Other Assets, Investing Activities",
                            "terseLabel":  "Proceeds from sale of assets"
                            }
                        }
                    },
                "localname":  "ProceedsFromSaleOfOtherAssetsInvestingActivities",
                "nsuri":  "http://fasb.org/us-gaap/2020-01-31",
                "presentation":  [
                    "http://fortive.com/role/ConsolidatedCondensedStatementsofCashFlows"
                    ],
                "xbrltype":  "monetaryItemType"
                },
            "us-gaap_ProductMember":  {
                "auth_ref":  [
                    "r289"
                    ],
                "lang":  {
                    "en-US":  {
                        "role":  {
                            "documentation":  "Article or substance produced by nature, labor or machinery.",
                            "label":  "Product [Member]",
                            "terseLabel":  "Products"
                            }
                        }
                    },
                "localname":  "ProductMember",
                "nsuri":  "http://fasb.org/us-gaap/2020-01-31",
                "presentation":  [
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                    ],
                "xbrltype":  "domainItemType"
                },
            "us-gaap_ProductWarrantyAccrual":  {
                "auth_ref":  [
                    "r240",
                    "r241",
                    "r502"
                    ],
                "crdr":  "credit",
                "lang":  {
                    "en-US":  {
                        "role":  {
                            "documentation":  "Carrying value as of the balance sheet date of obligations incurred through that date and payable for estimated claims under standard and extended warranty protection rights granted to customers.",
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                            "periodStartLabel":  "Beginning balance"
                            }
                        }
                    },
                "localname":  "ProductWarrantyAccrual",
                "nsuri":  "http://fasb.org/us-gaap/2020-01-31",
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                    ],
                "xbrltype":  "monetaryItemType"
                },
            "us-gaap_ProductWarrantyAccrualAdditionsFromBusinessAcquisition":  {
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                    ],
                "crdr":  "credit",
                "lang":  {
                    "en-US":  {
                        "role":  {
                            "documentation":  "Amount of increase in the standard and extended product warranty accrual from a business acquisition.",
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                            "terseLabel":  "Additions due to acquisitions"
                            }
                        }
                    },
                "localname":  "ProductWarrantyAccrualAdditionsFromBusinessAcquisition",
                "nsuri":  "http://fasb.org/us-gaap/2020-01-31",
                "presentation":  [
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                    ],
                "xbrltype":  "monetaryItemType"
                },
            "us-gaap_ProductWarrantyAccrualPayments":  {
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                    ],
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                "lang":  {
                    "en-US":  {
                        "role":  {
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                            "negatedTerseLabel":  "Settlements made"
                            }
                        }
                    },
                "localname":  "ProductWarrantyAccrualPayments",
                "nsuri":  "http://fasb.org/us-gaap/2020-01-31",
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                    ],
                "xbrltype":  "monetaryItemType"
                },
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                    ],
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                "lang":  {
                    "en-US":  {
                        "role":  {
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                            "terseLabel":  "Accruals for warranties issued during the period"
                            }
                        }
                    },
                "localname":  "ProductWarrantyAccrualWarrantiesIssued",
                "nsuri":  "http://fasb.org/us-gaap/2020-01-31",
                "presentation":  [
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                    ],
                "xbrltype":  "monetaryItemType"
                },
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                "auth_ref":  [
                    "r12",
                    "r71",
                    "r74",
                    "r101",
                    "r112",
                    "r121",
                    "r132",
                    "r133",
                    "r170",
                    "r176",
                    "r180",
                    "r183",
                    "r186",
                    "r199",
                    "r435",
                    "r438",
                    "r439",
                    "r444",
                    "r445",
                    "r457",
                    "r511"
                    ],
                "calculation":  {
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                        "parentTag":  "us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest",
                        "weight":  1.0
                        },
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                        "parentTag":  "us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic",
                        "weight":  1.0
                        }
                    },
                "crdr":  "credit",
                "lang":  {
                    "en-US":  {
                        "role":  {
                            "documentation":  "The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.",
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}

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