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Fortive Corp – ‘S-4’ on 5/5/17 – ‘EX-99.3’

On:  Friday, 5/5/17, at 4:36pm ET   ·   Accession #:  1193125-17-160897   ·   File #:  333-217740

1 Reference:  By:  SEC – ‘UPLOAD’ on 5/16/17

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

 5/05/17  Fortive Corp                      S-4                  126:13M                                    Donnelley … Solutions/FA

Registration of Securities Issued in a Business-Combination Transaction   —   Form S-4
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: S-4         Registration of Securities Issued in a              HTML   1.89M 
                Business-Combination Transaction                                 
 2: EX-5.1      Opinion of Counsel re: Legality                     HTML     46K 
 4: EX-23.1     Consent of Experts or Counsel                       HTML     31K 
 5: EX-25.1     Statement re: Eligibility of Trustee -- Form T-1    HTML     64K 
                or T-2                                                           
 6: EX-99.1     Miscellaneous Exhibit                               HTML    141K 
 7: EX-99.2     Miscellaneous Exhibit                               HTML     36K 
 8: EX-99.3     Miscellaneous Exhibit                               HTML     44K 
 9: EX-99.4     Miscellaneous Exhibit                               HTML     56K 
 3: EX-12.1     Statement re: Computation of Ratios                 HTML     46K 
16: R1          Document and Entity Information                     HTML     45K 
17: R2          Consolidated Condensed Balance Sheets               HTML    117K 
18: R3          Consolidated Condensed Balance Sheets               HTML     57K 
                (Parenthetical)                                                  
19: R4          Consolidated and Combined Condensed Statements of   HTML     86K 
                Earnings                                                         
20: R5          Consolidated and Combined Condensed Statements of   HTML     50K 
                Comprehensive Income                                             
21: R6          Consolidated Condensed Statement of Changes in      HTML     85K 
                Equity                                                           
22: R7          Consolidated and Combined Condensed Statements of   HTML    115K 
                Cash Flows                                                       
23: R8          Business Overview and Basis of Presentation         HTML     91K 
24: R9          Significant Accounting Policies (Policies)          HTML    100K 
25: R10         Acquisitions                                        HTML     58K 
26: R11         Gain on sale of product line                        HTML     40K 
27: R12         Inventories                                         HTML     39K 
28: R13         Property, Plant and Equipment                       HTML     42K 
29: R14         Goodwill and Other Intangible Assets                HTML     61K 
30: R15         Fair Value Measurements                             HTML     62K 
31: R16         Accrued Expenses and Other Liabilities              HTML     45K 
32: R17         Financing                                           HTML     77K 
33: R18         Pension Plans                                       HTML    101K 
34: R19         Income Taxes                                        HTML     94K 
35: R20         Restructuring and Other Related Charges             HTML     60K 
36: R21         Leases and Commitments                              HTML     43K 
37: R22         Litigation and Contingencies                        HTML     47K 
38: R23         Stock-Based Compensation                            HTML    152K 
39: R24         Capital Stock and Earnings Per Share                HTML     61K 
40: R25         Segment Information                                 HTML     92K 
41: R26         Related-Party Transactions                          HTML     50K 
42: R27         Quarterly Data                                      HTML     48K 
43: R28         Schedule II - Valuation and Qualifying Accounts     HTML     47K 
44: R29         Goodwill                                            HTML     40K 
45: R30         Commitments and Contingencies                       HTML     40K 
46: R31         Significant Accounting Policies (Policies)          HTML    170K 
                (Policies)                                                       
47: R32         Significant Accounting Policies (Policies)          HTML     36K 
                (Tables)                                                         
48: R33         Business Overview and Basis of Presentation         HTML     91K 
                (Tables)                                                         
49: R34         Acquisitions (Tables)                               HTML     48K 
50: R35         Inventories (Tables)                                HTML     39K 
51: R36         Property, Plant and Equipment (Tables)              HTML     40K 
52: R37         Goodwill (Tables)                                   HTML     49K 
53: R38         Goodwill and Other Intangible Assets (Tables)       HTML     58K 
54: R39         Fair Value Measurements (Tables)                    HTML     52K 
55: R40         Accrued Expenses and Other Liabilities (Tables)     HTML     45K 
56: R41         Financing (Tables)                                  HTML     64K 
57: R42         Pension Plans (Tables)                              HTML    102K 
58: R43         Income Taxes (Tables)                               HTML     89K 
59: R44         Restructuring and Other Related Charges (Tables)    HTML     63K 
60: R45         Leases and Commitments (Tables)                     HTML     43K 
61: R46         Stock-Based Compensation (Tables)                   HTML    141K 
62: R47         Capital Stock and Earnings Per Share (Tables)       HTML     52K 
63: R48         Segment Information (Tables)                        HTML     94K 
64: R49         Quarterly Data (Tables)                             HTML     47K 
65: R50         Business Overview and Basis of Presentation         HTML     83K 
                (Detail)                                                         
66: R51         Significant Accounting Policies Narrative (Detail)  HTML     39K 
67: R52         Significant Accounting Policies Property, Plant     HTML     41K 
                and Equipment (Detail)                                           
68: R53         Accumulated Other Comprehensive Income (Loss)       HTML     92K 
                (Detail)                                                         
69: R54         Acquisitions Narrative (Detail)                     HTML     52K 
70: R55         Acquisitions Schedule of Business Combinations      HTML     67K 
                (Detail)                                                         
71: R56         Acquisitions Pro Forma Information (Detail)         HTML     39K 
72: R57         Gain on Sale of Product Line (Detail)               HTML     48K 
73: R58         Inventories (Detail)                                HTML     43K 
74: R59         Property, Plant and Equipment Property, Plant and   HTML     49K 
                Equipment (Detail)                                               
75: R60         Property, Plant and Equipment Narrative (Detail)    HTML     41K 
76: R61         Goodwill and Other Intangible Assets Narrative      HTML     61K 
                (Detail)                                                         
77: R62         Goodwill and Other Intangible Assets Goodwill       HTML     47K 
                Rollforward (Detail)                                             
78: R63         Goodwill and Other Intangible Assets Finite and     HTML     48K 
                Indefinite Lived Assets (Detail)                                 
79: R64         Goodwill and Other Intangible Assets - Acquired     HTML     36K 
                Finite-lived Intangible Assets Narrative (Detail)                
80: R65         Goodwill Rollforward of Goodwill (Detail)           HTML     38K 
81: R66         Goodwill Goodwill by Segment (Detail)               HTML     40K 
82: R67         Fair Value Measurements (Detail)                    HTML     57K 
83: R68         Accrued Expenses and Other Liabilities (Detail)     HTML     86K 
84: R69         Financing Components of Debt (Detail)               HTML     62K 
85: R70         Financing Narrative (Detail)                        HTML    139K 
86: R71         Financing Minimum Principle Payments (Detail)       HTML     67K 
87: R72         Pension Plans Narrative (Detail)                    HTML     75K 
88: R73         Pension Plans Funded Status of Non-U.S. Plans       HTML     83K 
                (Detail)                                                         
89: R74         Pension Plans Weighted Average Assumptions Used to  HTML     38K 
                Determine Benefit Obligations (Detail)                           
90: R75         Pension Plans Components of Net Periodic Pension    HTML     48K 
                Cost (Detail)                                                    
91: R76         Pension Plans Weighted Average Assumptions Used to  HTML     41K 
                Determine Net Periodic Pension Cost (Detail)                     
92: R77         Pension Plans Fair Value of Pension Plan Assets     HTML     76K 
                (Detail)                                                         
93: R78         Pension Plans Expected Future Benefit Payments      HTML     48K 
                (Detail)                                                         
94: R79         Income Taxes Earnings Before Income Taxes (Detail)  HTML     41K 
95: R80         Income Taxes Current and Deferred Income Taxes      HTML     57K 
                (Detail)                                                         
96: R81         Income Taxes Deferred Assets and Liabilities        HTML     83K 
                (Detail)                                                         
97: R82         Income Taxes Narrative (Detail)                     HTML     86K 
98: R83         Income Taxes Effective Income Tax Rate (Detail)     HTML     53K 
99: R84         Income Taxes Unrecognized Tax Benefits (Detail)     HTML     53K 
100: R85         Restructuring and Other Related Charges             HTML     48K  
                Restructuring and Related Activities (Detail)                    
101: R86         Restructuring and Other Related Charges             HTML     41K  
                Restructuring and Other Related Charges by Segment               
                (Detail)                                                         
102: R87         Restructuring and Other Related Charges Accrual     HTML     47K  
                Balance and Utilization by Type of Restructuring                 
                Cost (Detail)                                                    
103: R88         Restructuring and Other Related Charges Narrative   HTML     38K  
                (Detail)                                                         
104: R89         Restructuring and Other Related Charges Charges     HTML     39K  
                Included in Statement of Earnings (Detail)                       
105: R90         Commitments and Contingencies (Detail)              HTML     72K  
106: R91         Litigation and Contingencies (Detail)               HTML     37K  
107: R92         Stock-Based Compensation Narrative (Detail)         HTML     97K  
108: R93         Stock-Based Compensation Stock-Based Compensation   HTML     48K  
                Expense (Detail)                                                 
109: R94         Stock-Based Compensation Unrecognized Compensation  HTML     39K  
                Cost (Detail)                                                    
110: R95         Stock-Based Compensation Assumptions Used (Detail)  HTML     53K  
111: R96         Stock-Based Compensation Option Activity (Detail)   HTML     89K  
112: R97         Stock-Based Compensation Stock Option Plans By      HTML     75K  
                Exercise Price Range (Detail)                                    
113: R98         Stock-Based Compensation Stock Unit Activity -      HTML     64K  
                Stock Compensation Plan (Detail)                                 
114: R99         Capital Stock and Earnings Per Share Narrative      HTML     73K  
                (Detail)                                                         
115: R100        Net Earnings Per Share Narrative (Detail)           HTML     45K  
116: R101        Capital Stock and Earnings Per Share (Detail)       HTML     61K  
117: R102        Net Earnings Per Share Subsequent Event Narrative   HTML     37K  
                (Detail)                                                         
118: R103        Segment Information Narrative (Detail)              HTML     69K  
119: R104        Segment Information Operations in Geographical      HTML     60K  
                Areas (Detail)                                                   
120: R105        Segment Information Sales by Major Product Group    HTML     50K  
                (Detail)                                                         
121: R106        Related-Party Transactions (Detail)                 HTML     47K  
122: R107        Quarterly Data (Detail)                             HTML     60K  
123: R108        Schedule II, Valuation and Qualifying Accounts      HTML     47K  
                (Detail)                                                         
125: XML         IDEA XML File -- Filing Summary                      XML    226K  
124: EXCEL       IDEA Workbook of Financial Reports                  XLSX    150K  
10: EX-101.INS  XBRL Instance -- ftv-20170331                        XML   3.10M 
12: EX-101.CAL  XBRL Calculations -- ftv-20170331_cal                XML    294K 
13: EX-101.DEF  XBRL Definitions -- ftv-20170331_def                 XML    885K 
14: EX-101.LAB  XBRL Labels -- ftv-20170331_lab                      XML   1.77M 
15: EX-101.PRE  XBRL Presentations -- ftv-20170331_pre               XML   1.42M 
11: EX-101.SCH  XBRL Schema -- ftv-20170331                          XSD    230K 
126: ZIP         XBRL Zipped Folder -- 0001193125-17-160897-xbrl      Zip    290K  


‘EX-99.3’   —   Miscellaneous Exhibit


This Exhibit is an HTML Document rendered as filed.  [ Alternative Formats ]



  EX-99.3  

Exhibit 99.3

LETTER TO CLIENTS

Relating to

FORTIVE CORPORATION

Offer to Exchange

up to $300,000,000 1.800% Senior Notes due 2019 that have been registered under

the Securities Act of 1933, as amended (the “Securities Act”) for any and all of

our outstanding unregistered 1.800% Senior Notes due 2019

and

up to $750,000,000 2.350% Senior Notes due 2021 that have been registered under

the Securities Act for any and all of our outstanding unregistered 2.350%

Senior Notes due 2021

and

up to $900,000,000 3.150% Senior Notes due 2026 that have been registered under

the Securities Act for any and all of our outstanding unregistered 3.150%

Senior Notes due 2026

and

up to $550,000,000 4.300% Senior Notes due 2046 that have been registered under

the Securities Act for any and all of our outstanding unregistered 4.300%

Senior Notes due 2046

Pursuant to the Prospectus, dated                     , 2017

To Our Clients:

Enclosed for your consideration is a Prospectus, dated             , 2017 (as it may be amended or supplemented from time to time, the “Prospectus”), and the Letter of Transmittal relating to the exchange offer of Fortive Corporation, a Delaware corporation (the “Company”), whereby the Company is offering, upon the terms and subject to the conditions of the Prospectus:

 

    $300,000,000 in aggregate principal amount of new 1.800% Senior Notes due 2019 (the “New 2019 Notes”) in exchange for an equal amount of outstanding 1.800% Senior Notes due 2019 (the “Old 2019 Notes”);

 

    $750,000,000 in aggregate principal amount of new 2.350% Senior Notes due 2021 (the “New 2021 Notes”) in exchange for an equal amount of outstanding 2.350% Senior Notes due 2021 (the “Old 2021 Notes”);

 

    $900,000,000 in aggregate principal amount of new 3.150% Senior Notes due 2026 (the “New 2026 Notes”) in exchange for an equal amount of outstanding 3.150% Senior Notes due 2026 (the “Old 2026 Notes”); and

 

    $550,000,000 in aggregate principal amount of new 4.300% Senior Notes due 2046 (the “New 2046 Notes”) in exchange for an equal amount of outstanding 4.300% Senior Notes due 2046 (the “Old 2046 Notes”).


We refer to the Old 2019 Notes, the Old 2021 Notes, the Old 2026 Notes and the Old 2046 Notes collectively in this letter as the “Old Notes.” We refer to the New 2019 Notes, the New 2021 Notes, the New 2026 Notes and the New 2046 Notes collectively in this letter as the “New Notes.”

The exchange offer is intended to satisfy certain obligations of the Company contained in the Registration Rights Agreement, dated as of June 20, 2016, by and among the Company and the initial purchasers of the Old Notes.

This material is being forwarded to you as the beneficial owner of the Old Notes carried by us for your account but not registered in your name. A tender of such Old Notes may only be made by us as the holder of record and pursuant to your instructions, unless you obtain a properly completed bond power from us or arrange to have the Old Notes registered in your name.

Accordingly, we request instructions as to whether you wish us to tender on your behalf the Old Notes held by us for your account, pursuant to the terms and conditions set forth in the enclosed Prospectus and Letter of Transmittal.

Please forward your instructions to us as promptly as possible in order to permit us to tender the Old Notes on your behalf in accordance with the provisions of the exchange offer. The exchange offer will expire at 5:00 p.m., New York City time, on             , 2017, unless extended (such date and time, as they may be extended, the “expiration date”). The Company does not currently intend to extend the expiration date. Any Old Notes tendered pursuant to the exchange offer may be withdrawn any time prior to the expiration date.

Your attention is directed to the following:

1. The exchange offer is described in and subject to the terms and conditions set forth in the Prospectus and the Letter of Transmittal.

2. The exchange offer is for any and all Old Notes.

3. The Company will be deemed to accept validly tendered Old Notes when, and if, the Company gives oral or written notice of acceptance to the exchange agent. Subject to the terms and conditions of the exchange offer, delivery of the New Notes will be made by the exchange agent on the settlement date, which will be promptly after the expiration date of the exchange offer, following receipt of the Company’s notice of acceptance.

4. Any transfer taxes incident to the transfer of Old Notes from the holder to the Company will be paid by the Company, except as otherwise provided in Instruction 6 of the Letter of Transmittal.

5. The exchange offer expires at 5:00 p.m., New York City time, on             , 2017, unless extended by the Company. The Company does not currently intend to extend the exchange offer.

If you wish to have us tender your Old Notes, please instruct us to do so by completing, executing and returning to us the instruction form on the back of this letter.

The Letter of Transmittal is furnished to you for information only and may not be used directly by you to tender Old Notes, unless you obtain a properly completed bond power from us or arrange to have the Old Notes registered in your name.


INSTRUCTIONS WITH RESPECT TO THE EXCHANGE OFFER

The undersigned acknowledge(s) receipt of this letter and the enclosed materials referred to herein relating to the exchange offer made by the Company with respect to the Old Notes.

This will instruct you to tender the Old Notes held by you for the account of the undersigned, upon and subject to the terms and conditions set forth in the Prospectus and the related Letter of Transmittal.

 

Please tender the Old Notes held by you for the account of the undersigned as indicated below:

 

    Aggregate Principal Amount of Old Notes
1.800% Senior Notes due 2019    
  (must be in an amount equal to $2,000 principal amount or integral multiples of $1,000 in excess thereof)
2.350% Senior Notes due 2021    
  (must be in an amount equal to $2,000 principal amount or integral multiples of $1,000 in excess thereof)
3.150% Senior Notes due 2026    
  (must be in an amount equal to $2,000 principal amount or integral multiples of $1,000 in excess thereof)
4.300% Senior Notes due 2046    
 

(must be in an amount equal to $2,000 principal amount or integral multiples of $1,000 in excess thereof)

 

 

Please do not tender any Old Notes held by you for the account of the undersigned.

 

 

 

 

 

Signature(s)
 

 

 

 

Please print name(s) here

Dated:                                                                                            

 
 

 

Address(es)
 

 

Area Code(s) and Telephone Number(s)
 

 

Tax Identification or Social Security No(s).

None of the Old Notes held by us for your account will be tendered unless we receive written instructions from you to do so. Unless a specific contrary instruction is given in the space provided, your signature(s) hereon shall constitute an instruction to us to tender all the Old Notes held by us for your account.


Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘S-4’ Filing    Date    Other Filings
Filed on:5/5/174
6/20/16CORRESP,  UPLOAD
 List all Filings 


1 Subsequent Filing that References this Filing

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

 5/16/17  SEC                               UPLOAD10/07/17    1:36K  Fortive Corp.
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Filing Submission 0001193125-17-160897   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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