Vontier (VNT) 10-Q 5 Nov 21 2021 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Oct. 01, 2021	Oct. 29, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Oct. 1, 2021
Document Transition Report	false
Entity File Number	001-39483
Entity Registrant Name	Vontier Corporation
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	84-2783455
Entity Address, Address Line One	5438 Wade Park Boulevard
Entity Address, Address Line Two	Suite 600
Entity Address, City or Town	Raleigh
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	27607
City Area Code	984
Local Phone Number	275-6000
Title of 12(b) Security	Common stock, par value $0.0001 per share
Trading Symbol	VNT
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		169,059,607
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001786842
Current Fiscal Year End Date	--12-31

Consolidated Condensed Balance

Consolidated Condensed Balance Sheets - USD ($) $ in Millions	Oct. 01, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 458.9	$ 380.5
Accounts receivable, less allowance for credit losses of $41.2 million and $40.5 million as of October 1, 2021 and December 31, 2020, respectively	473.8	447.1
Inventories:
Finished goods	101.7	90.3
Work in process	24.2	19.9
Raw materials	137.9	123.5
Total inventories	263.8	233.7
Prepaid expenses and other current assets	124.6	120.8
Total current assets	1,321.1	1,182.1
Property, plant and equipment, net of accumulated depreciation of $251.0 million and $240.4 million as of October 1, 2021 and December 31, 2020, respectively	100	96.8
Operating lease right-of-use assets	46	40.1
Long-term financing receivables, less allowance for credit losses of $42.3 million and $44.4 million as of October 1, 2021 and December 31, 2020, respectively	242.7	233.5
Other intangible assets, net	631.5	250.5
Goodwill	1,664.8	1,092.1
Other assets	165.5	177.9
Total assets	4,171.6	3,073
Current liabilities:
Short-term borrowings	4.5	10.9
Trade accounts payable	390.5	367.4
Current operating lease liabilities	12.8	11.9
Accrued expenses and other current liabilities	464.5	448.1
Total current liabilities	872.3	838.3
Long-term operating lease liabilities	36.2	30.5
Long-term debt	2,583.1	1,795.3
Other long-term liabilities	205.4	217.2
Commitments and Contingencies
Equity:
Preferred stock, no par value -- 15,000,000 authorized shares; and none issued and outstanding	0	0
Common stock, $0.0001 par value -- 1,985,000,000 shares authorized at October 1, 2021 and December 31, 2020; 169,046,880 and 168,497,098 shares issued and outstanding at October 1, 2021 and December 31, 2020, respectively	0	0
Additional paid-in capital	22.6	7.6
Retained earnings (Accumulated deficit)	278.6	(13.6)
Accumulated other comprehensive income	169.4	193.8
Total Vontier stockholders’ equity	470.6	187.8
Noncontrolling interests	4	3.9
Total stockholders’ equity	474.6	191.7
Total liabilities and equity	$ 4,171.6	$ 3,073

Consolidated Condensed Balanc_2

Consolidated Condensed Balance Sheets (Parenthetical) - USD ($) $ in Millions	Oct. 01, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Accounts receivable, allowance for credit losses	$ 41.2	$ 40.5
Accumulated depreciation	251	240.4
Financing receivable, allowance for credit losses	$ 42.3	$ 44.4
Preferred stock, par value (in dollars per share)	$ 0	$ 0
Preferred stock, authorized (in shares)	15,000,000	15,000,000
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, authorized (in shares)	1,985,000,000	1,985,000,000
Common stock, issued (in shares)	169,046,880	168,497,098
Common stock, outstanding (in shares)	169,046,880	168,497,098

Consolidated and Combined Conde

Consolidated and Combined Condensed Statements of Earnings and Comprehensive Income - USD ($) shares in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2021	Sep. 25, 2020	Oct. 01, 2021	Sep. 25, 2020
Sales	$ 768,500,000	$ 746,700,000	$ 2,200,500,000	$ 1,889,600,000
Cost of sales	(422,100,000)	(415,400,000)	(1,223,800,000)	(1,064,200,000)
Gross profit	346,400,000	331,300,000	976,700,000	825,400,000
Operating costs:
Selling, general and administrative expenses	(147,800,000)	(121,100,000)	(458,100,000)	(356,000,000)
Research and development expenses	(31,200,000)	(31,600,000)	(97,300,000)	(93,700,000)
Impairment of goodwill	0	0	0	(85,300,000)
Operating profit	167,400,000	178,600,000	421,300,000	290,400,000
Non-operating expense, net:
Interest expense, net	(12,000,000)	(200,000)	(34,400,000)	(800,000)
Write-off of deferred financing costs	0	0	(3,400,000)	0
Gain on settlement of investment	3,200,000	0	3,200,000	0
Other non-operating expense, net	(200,000)	(100,000)	(300,000)	(400,000)
Earnings before income taxes	158,400,000	178,300,000	386,400,000	289,200,000
Provision for income taxes	(31,100,000)	(37,300,000)	(85,800,000)	(84,000,000)
Net earnings	$ 127,300,000	$ 141,000,000	$ 300,600,000	$ 205,200,000
Net earnings per share:
Basic (in dollars per share)	$ 0.75	$ 0.84	$ 1.78	$ 1.22
Diluted (in dollars per share)	$ 0.75	$ 0.84	$ 1.77	$ 1.22
Average common stock and common equivalent shares outstanding:
Basic (in shares)	169.1	168.4	168.9	168.4
Diluted (in shares)	170.3	168.4	170	168.4
Other comprehensive income (loss), net of income taxes:
Net earnings	$ 127,300,000	$ 141,000,000	$ 300,600,000	$ 205,200,000
Foreign currency translation adjustments		14,300,000		(13,300,000)
Other adjustments		100,000		1,900,000
Total other comprehensive income (loss), net of income taxes	(6,800,000)	14,400,000	(24,400,000)	(11,400,000)
Comprehensive income	120,500,000	155,400,000	276,200,000	193,800,000
Products
Sales	699,700,000	686,000,000	2,005,100,000	1,713,900,000
Cost of sales	(371,800,000)	(367,000,000)	(1,067,300,000)	(926,000,000)
Services
Sales	68,800,000	60,700,000	195,400,000	175,700,000
Cost of sales	$ (50,300,000)	$ (48,400,000)	$ (156,500,000)	$ (138,200,000)

Consolidated and Combined Con_2

Consolidated and Combined Condensed Statements of Changes in Stockholders' Equity - USD ($) $ in Millions	Total	Adoption of accounting standard	Cumulative Effect, Period of Adoption, Adjusted Balance	Common Stock	Common StockCumulative Effect, Period of Adoption, Adjusted Balance	Additional Paid-In Capital	Additional Paid-In CapitalCumulative Effect, Period of Adoption, Adjusted Balance	Retained Earnings (Accumulated Deficit)	Retained Earnings (Accumulated Deficit)Cumulative Effect, Period of Adoption, Adjusted Balance	Former Parent’s Investment	Former Parent’s InvestmentAdoption of accounting standard	Former Parent’s InvestmentCumulative Effect, Period of Adoption, Adjusted Balance	Accumulated Other Comprehensive Income	Accumulated Other Comprehensive IncomeCumulative Effect, Period of Adoption, Adjusted Balance	Noncontrolling Interests	Noncontrolling InterestsCumulative Effect, Period of Adoption, Adjusted Balance
Beginning balance (in shares) at Dec. 31, 2019				0	0
Beginning balance at Dec. 31, 2019	$ 1,816.1	$ (16.9)	$ 1,799.2	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 1,662.5	$ (16.9)	$ 1,645.6	$ 148.7	$ 148.7	$ 4.9	$ 4.9
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	(4.2)									(4.2)
Other comprehensive income (loss), net of income taxes	(44.5)												(44.5)
Stock-based compensation expense	3.6									3.6
Net transfers to Former Parent	(13.1)									(13.1)
Non-cash settlement of net related-party borrowings	(1)									(1)
Change in noncontrolling interests	(1.1)														(1.1)
Ending balance (in shares) at Mar. 27, 2020				0
Ending balance at Mar. 27, 2020	1,738.9			$ 0		0		0		1,630.9			104.2		3.8
Beginning balance (in shares) at Dec. 31, 2019				0	0
Beginning balance at Dec. 31, 2019	1,816.1	$ (16.9)	$ 1,799.2	$ 0	$ 0	0	$ 0	0	$ 0	1,662.5	$ (16.9)	$ 1,645.6	148.7	$ 148.7	4.9	$ 4.9
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	205.2
Other comprehensive income (loss), net of income taxes	(11.4)												(11.4)
Ending balance (in shares) at Sep. 25, 2020				0
Ending balance at Sep. 25, 2020	1,587.4			$ 0		0		0		1,445.8			137.3		4.3
Beginning balance (in shares) at Mar. 27, 2020				0
Beginning balance at Mar. 27, 2020	1,738.9			$ 0		0		0		1,630.9			104.2		3.8
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	68.4									68.4
Other comprehensive income (loss), net of income taxes	18.7												18.7
Stock-based compensation expense	6									6
Net transfers to Former Parent	(170.1)									(170.1)
Non-cash settlement of net related-party borrowings	0.2									0.2
Change in noncontrolling interests	0.5														0.5
Ending balance (in shares) at Jun. 26, 2020				0
Ending balance at Jun. 26, 2020	1,662.6			$ 0		0		0		1,535.4			122.9		4.3
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	141									141
Other comprehensive income (loss), net of income taxes	14.4												14.4
Stock-based compensation expense	6.1									6.1
Net transfers to Former Parent	(236.7)									(236.7)
Ending balance (in shares) at Sep. 25, 2020				0
Ending balance at Sep. 25, 2020	$ 1,587.4			$ 0		0		0		$ 1,445.8			137.3		4.3
Beginning balance (in shares) at Dec. 31, 2020	168,497,098			168,500,000
Beginning balance at Dec. 31, 2020	$ 191.7			$ 0		7.6		(13.6)					193.8		3.9
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	91							91
Other comprehensive income (loss), net of income taxes	(15.6)												(15.6)
Stock-based compensation expense	6.6					6.6
Exercise of common stock options and stock award distributions, net of shares for tax withholding (in shares)				300,000
Exercise of common stock options and stock award distributions, net of shares for tax withholding	(1.4)					(1.4)
Acquisition of noncontrolling interest	(1.9)					(2)									0.1
Non-cash separation-related adjustments and other	(2.1)					(2.1)
Change in noncontrolling interests	(0.3)														(0.3)
Ending balance (in shares) at Apr. 02, 2021				168,800,000
Ending balance at Apr. 02, 2021	$ 268			$ 0		8.7		77.4					178.2		3.7
Beginning balance (in shares) at Dec. 31, 2020	168,497,098			168,500,000
Beginning balance at Dec. 31, 2020	$ 191.7			$ 0		7.6		(13.6)					193.8		3.9
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	300.6
Other comprehensive income (loss), net of income taxes	$ (24.4)												(24.4)
Ending balance (in shares) at Oct. 01, 2021	169,046,880			169,000,000
Ending balance at Oct. 01, 2021	$ 474.6			$ 0		22.6		278.6					169.4		4
Beginning balance (in shares) at Apr. 02, 2021				168,800,000
Beginning balance at Apr. 02, 2021	268			$ 0		8.7		77.4					178.2		3.7
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	82.3							82.3
Dividends on common stock	(4.2)							(4.2)
Other comprehensive income (loss), net of income taxes	(2)												(2)
Stock-based compensation expense	6.4					6.4
Exercise of common stock options and stock award distributions, net of shares for tax withholding (in shares)				100,000
Exercise of common stock options and stock award distributions, net of shares for tax withholding	2.5					2.5
Non-cash separation-related adjustments and other	(3.8)					(3.8)
Change in noncontrolling interests	0.1														0.1
Ending balance (in shares) at Jul. 02, 2021				168,900,000
Ending balance at Jul. 02, 2021	349.3			$ 0		13.8		155.5					176.2		3.8
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	127.3							127.3
Dividends on common stock	(4.2)							(4.2)
Other comprehensive income (loss), net of income taxes	(6.8)												(6.8)
Stock-based compensation expense	6.3					6.3
Exercise of common stock options and stock award distributions, net of shares for tax withholding (in shares)				100,000
Exercise of common stock options and stock award distributions, net of shares for tax withholding	2.5					2.5
Change in noncontrolling interests	$ 0.2														0.2
Ending balance (in shares) at Oct. 01, 2021	169,046,880			169,000,000
Ending balance at Oct. 01, 2021	$ 474.6			$ 0		$ 22.6		$ 278.6					$ 169.4		$ 4

Consolidated and Combined Con_3

Consolidated and Combined Condensed Statements of Changes in Stockholders' Equity (Parenthetical) - $ / shares	3 Months Ended
	Oct. 01, 2021	Jul. 02, 2021
Statement of Stockholders' Equity [Abstract]
Dividend per Common Share (in dollars per share)	$ 0.025	$ 0.025

Consolidated and Combined Con_4

Consolidated and Combined Condensed Statements of Cash Flows - USD ($)	9 Months Ended
	Oct. 01, 2021	Sep. 25, 2020
Cash flows from operating activities:
Net earnings	$ 300,600,000	$ 205,200,000
Non-cash items:
Depreciation and amortization expense	59,000,000	59,600,000
Stock-based compensation expense	19,300,000	15,700,000
Impairment of goodwill	0	85,300,000
Write-off of deferred financing costs	3,400,000	0
Amortization of debt issuance costs	2,600,000	0
Gain on settlement of investment	(3,200,000)	0
Amortization of acquisition-related inventory fair value step-up	1,600,000	0
Change in deferred income taxes	(27,400,000)	(8,600,000)
Change in accounts receivable and long-term financing receivables, net	(25,000,000)	53,200,000
Change in other operating assets and liabilities	11,000,000	70,200,000
Net cash provided by operating activities	341,900,000	480,600,000
Cash flows from investing activities:
Cash paid for acquisitions, net of cash received	(955,500,000)	0
Payments for additions to property, plant and equipment	(32,900,000)	(27,300,000)
Proceeds from sale of property	0	500,000
Cash paid for equity investments	(7,600,000)	(9,500,000)
Cash received for settlement of investment	7,000,000	0
Net cash used in investing activities	(989,000,000)	(36,300,000)
Cash flows from financing activities:
Proceeds from issuance of long-term debt	2,186,500,000	0
Repayment of long-term debt	(1,400,000,000)	0
Payment for debt issuance costs	(5,100,000)	0
Payment of common stock cash dividend	(8,400,000)	0
Net repayments of related-party borrowings	0	(23,400,000)
Net repayments of short-term borrowings	(6,200,000)	(3,500,000)
Net transfers to Former Parent	(35,600,000)	(419,900,000)
Proceeds from stock option exercises	6,800,000	0
Acquisition of noncontrolling interest	(1,900,000)	0
Other financing activities	(4,800,000)	(700,000)
Net cash provided by (used in) financing activities	731,300,000	(447,500,000)
Effect of exchange rate changes on cash and cash equivalents	(5,800,000)	3,200,000
Net change in cash and cash equivalents	78,400,000	0
Beginning balance of cash and cash equivalents	380,500,000	0
Ending balance of cash and cash equivalents	$ 458,900,000	$ 0

Business Overview and Basis of

Business Overview and Basis of Presentation	9 Months Ended
	Oct. 01, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business Overview and Basis of Presentation	NOTE 1. BUSINESS OVERVIEW AND BASIS OF PRESENTATION Nature of Business Vontier Corporation (“Vontier,” the “Company,” “we,” “us,” or “our”) is a global industrial technology company that focuses on critical technical equipment, components, software and services for manufacturing, repair, and servicing in the mobility infrastructure industry worldwide. The Company supplies a wide range of mobility technologies and diagnostics and repair technologies solutions spanning advanced environmental sensors; fueling equipment; field payment hardware; point-of sale, workflow and monitoring software; vehicle tracking and fleet management; software solutions for traffic light control; and vehicle mechanics’ and technicians’ equipment. The Company markets its products and services to retail and commercial fueling operators, convenience store and in-bay car wash operators, tunnel car wash businesses, commercial vehicle repair businesses, municipal governments and public safety entities and fleet owners/operators on a global basis. Vontier operates through one reportable segment comprised of two operating segments: (i) mobility technologies, which is a leading worldwide provider of solutions and services focused on fuel dispensing, remote fuel management, point-of-sale and payment systems, environmental compliance, workflow software and control solutions, vehicle tracking and fleet management (“telematics”) and traffic management (“smart city solutions”), and (ii) diagnostics and repair technologies, which manufactures and distributes vehicle repair tools, toolboxes and automotive diagnostic equipment and software and a full line of wheel-service equipment. Given the interrelationships of the products, technologies and customers and the resulting similar long-term economic characteristics, we meet the aggregation criteria and have combined our two operating segments into a single reportable segment. Historically, these businesses had operated as part of Fortive Corporation’s Industrial Technologies reportable segment (the “Vontier Businesses”). Separation from Fortive Corporation On October 9, 2020, Fortive Corporation (“Fortive” or “Former Parent”) completed the separation of Fortive’s Industrial Technologies businesses through a pro rata distribution of 80.1% of the outstanding common stock of Vontier to Fortive’s stockholders (the “Separation”). In January 2021, Fortive sold a total of 33.5 million shares of the Company’s common stock as part of a secondary offering. After the secondary offering, Fortive no longer owned any of the Company’s outstanding common stock. Basis of Presentation The accompanying Consolidated and Combined Condensed Financial Statements present our historical financial position, results of operations, changes in equity and cash flows in accordance with generally accepted accounting principles in the United States of America (“GAAP”). The combined financial statements for periods prior to the Separation were derived from Fortive’s consolidated financial statements and accounting records and prepared in accordance with GAAP for the preparation of carved-out combined financial statements. Through the date of the Separation, all revenues and costs as well as assets and liabilities directly associated with Vontier have been included in the combined condensed financial statements. Prior to the Separation, the combined condensed financial statements also included allocations of certain general, administrative, sales and marketing expenses from Fortive’s corporate office and from other Fortive businesses to the Company and allocations of related assets, liabilities, and the Former Parent’s investment, as applicable. The allocations were determined on a reasonable basis; however, the amounts are not necessarily representative of the amounts that would have been reflected in the financial statements had the Company been an entity that operated independently of Fortive during the applicable periods. Related-party allocations prior to the Separation, including the method for such allocation, are discussed further in Note 12. Related-Party Transactions. Following the Separation, the consolidated condensed financial statements include the accounts of Vontier and those of our wholly-owned subsidiaries and no longer include any allocations from Fortive. Accordingly: • The Consolidated Condensed Balance Sheets as of October 1, 2021 and December 31, 2020 consist of our balances. • The Consolidated Condensed Statement of Earnings and Comprehensive Income and Consolidated Condensed Statement of Changes in Equity for the three and nine months ended October 1, 2021 as well as the Consolidated Condensed Statement of Cash Flows for the nine months ended October 1, 2021 consist of our consolidated results. The Combined Condensed Statement of Earnings and Comprehensive Income and Combined Condensed Statement of Changes in Equity for the three and nine months ended September 25, 2020 as well as the Combined Condensed Statement of Cash Flows for the nine months ended September 25, 2020 consist of the combined results of the Vontier Businesses. Our Consolidated and Combined Condensed Financial Statements may not be indicative of our results had we been a separate stand-alone entity throughout the periods presented, nor are the results stated herein indicative of what our financial position, results of operations and cash flows may be in the future. All significant transactions between the Company and Fortive have been included in the accompanying Consolidated and Combined Condensed Financial Statements for all periods presented. Cash transactions with Fortive prior to the Separation are reflected in the accompanying Consolidated and Combined Condensed Statements of Changes in Stockholders’ Equity as “Net transfers to Former Parent.” Former Parent’s investment, which included Retained earnings (Accumulated deficit) prior to the Separation, represents Fortive’s interest in our recorded net assets prior to the Separation. In addition, the accumulated net effect of intercompany transactions between us and Fortive or Fortive affiliates for periods prior to the Separation are included in Former Parent’s investment. The Consolidated and Combined Condensed Financial Statements include our accounts and the accounts of our subsidiaries. All intercompany balances and transactions have been eliminated upon consolidation. The Consolidated and Combined Condensed Financial Statements also reflect the impact of noncontrolling interests. Noncontrolling interests do not have a significant impact on our consolidated and combined results of operations, therefore net earnings and net earnings per share attributable to noncontrolling interests are not presented separately in our Consolidated and Combined Condensed Statements of Earnings and Comprehensive Income. Net earnings attributable to noncontrolling interests have been reflected in selling, general and administrative expenses (“SG&A”) and were insignificant in all periods presented. Unaudited Interim Financial Information The interim Consolidated and Combined Condensed Financial Statements include the accounts of the Company. These Consolidated and Combined Condensed Financial Statements are prepared in conformity with GAAP, and are unaudited. In the opinion of the Company’s management, all adjustments of a normal recurring nature necessary for a fair presentation have been reflected. Certain financial information that is normally included in annual financial statements prepared in accordance with GAAP, but that is not required for interim reporting purposes, has been omitted. The accompanying interim Consolidated and Combined Condensed Financial Statements and the related notes should be read in conjunction with the Company’s Consolidated and Combined Financial Statements and related notes included in the Company’s 2020 Annual Report on Form 10-K. Recently Issued Accounting Standards In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting and in January 2021 issued ASU No. 2021-01, Reference Rate Reform (Topic 848): Scope. These ASUs provide temporary optional expedients and exceptions to existing guidance on contract modifications and hedge accounting to facilitate the market transition from existing reference rates, such as LIBOR which is being phased out beginning at the end of 2021, to alternate reference rates, such as the Secured Overnight Financing Rate (“SOFR”). These standards were effective upon issuance and allowed application to contract changes as early as January 1, 2020. These provisions may impact the Company as contract modifications and other changes occur during the LIBOR transition period. The Company continues to evaluate the optional relief guidance provided within these ASUs, has reviewed its debt securities and continues to evaluate commercial contracts that may utilize LIBOR as the reference rate. We will continue the assessment and monitor regulatory developments during the LIBOR transition period. Recently Adopted Accounting Standards In October 2021, the FASB issued ASU No. 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. This ASU provides a single comprehensive accounting model on revenue recognition for contracts with customers and requires that the acquirer in a business combination recognize and measure contract assets and liabilities acquired in a business combination in accordance with Topic 606 (Revenue from Contracts with Customers). The amendments in this ASU are effective for fiscal years beginning after December 15, 2022. Early adoption is permitted, including adoption in an interim period. With early adoption, the amendments are applied retrospectively to all business combinations for which the acquisition date occurs on of after the beginning of the fiscal year that includes the interim period of adoption and prospectively to all business combinations that occur on or after the date of initial application. The Company adopted the ASU for the current interim period and its adoption impacted the accounting and recognition of the contract liabilities associated with the Company’s acquisition of DRB Systems, LLC.

Acquisitions

Acquisitions	9 Months Ended
	Oct. 01, 2021
Business Combinations [Abstract]
Acquisitions	NOTE 2. ACQUISITIONS DRB Systems, LLC On September 13, 2021, the Company acquired all of the outstanding equity interests of DRB Systems, LLC (“DRB”), a leading provider of point of sale, workflow software and control solutions to the car wash industry, for $955.5 million in cash, which is subject to post-closing working capital and other adjustments. This acquisition aligns with the Company’s portfolio diversification strategy and enables opportunities in new end markets. With this acquisition, the Company expects to grow its retail solutions portfolio. The acquisition of DRB was accounted for as a business combination and, accordingly, the assets acquired and the liabilities assumed have been recorded at their respective fair values as of the acquisition date. The goodwill is attributable to the workforce of the acquired business, future market opportunities and the expected synergies with the Company’s existing operations. The Company incurred $3.1 million in acquisition related costs which are included in Selling, general and administrative expenses in the Consolidated Condensed Statement of Earnings. The majority of goodwill derived from this acquisition is expected to be deductible for tax purposes. Due to the timing of the acquisition, the valuation of the net assets acquired has not been finalized and is expected to be completed no later than one year from the acquisition date in accordance with GAAP and as a result, adjustments could have a material effect on the consolidated financial statements. The Company’s estimate of the purchase price allocation is as follows: ($ in millions) Preliminary Purchase Price Allocation Weighted Average Amortization Period Accounts receivable $ 17.3 Inventories 21.0 Prepaid and other current assets 3.8 Technology 142.1 9.0 Customer relationships 227.0 11.0 Trade names 36.0 14.0 Goodwill 587.4 Other assets 14.9 Trade accounts payable (5.8) Accrued expenses and other current liabilities (44.6) Other long-term liabilities (43.6) Purchase price, net of cash acquired $ 955.5 To determine the fair value of the acquired intangible assets included above, management utilized significant unobservable inputs (Level 3 in the fair value hierarchy) and was required to make judgements and estimates about future revenues, expenses and other valuation assumptions such as royalty, attrition and discount rates. These assumptions are forward looking and could be affected by future economic and market conditions. The results of DRB are included in the consolidated condensed financial statements of the Company from the date of the acquisition and during this period DRB’s revenues and loss before income taxes was $10.9 million and $0.5 million, respectively. The loss before income taxes includes the amortization of intangible assets and acquisition-related fair value adjustments. Pro Forma Financial Information The following unaudited pro forma presents consolidated information of Vontier as if the acquisition of DRB had occurred on January 1, 2020. Three Months Ended Nine Months Ended ($ in millions) October 1, 2021 September 25, 2020 October 1, 2021 September 25, 2020 Sales $ 804.9 $ 779.4 $ 2,318.5 $ 1,974.1 Net earnings 129.1 138.8 300.4 188.4 These pro forma amounts have been calculated after applying the Company’s accounting policies and adjusting the results of the Company and DRB to reflect the amortization and interest expense that would have been charged assuming the fair value adjustments to inventory and intangible assets and the financing of the acquisition, respectively, had been applied at the beginning of the 2020 fiscal year, together with the tax effects. The pro forma financial information is presented for information purposes only and is not indicative of the results of the operations that actually would have been achieved had the acquisition been consummated as of that time.

Financing Receivables

Financing Receivables	9 Months Ended
	Oct. 01, 2021
Credit Loss [Abstract]
Financing Receivables	NOTE 3. FINANCING RECEIVABLES The Company’s financing receivables are comprised of commercial purchase security agreements with the Company’s end customers (“PSAs”) and commercial loans to the Company’s franchisees (“Franchisee Notes”). Financing receivables are generally secured by the underlying tools and equipment financed. PSAs are installment sales contracts originated between the franchisee and technicians or independent shop owners which enable these customers to purchase tools and equipment on an extended-term payment plan. PSA payment terms are generally up to five years. Upon origination, the Company assumes the PSA by crediting the franchisee’s trade accounts receivable. As a result, originations of PSAs are non-cash transactions. The Company records PSAs at amortized cost. Franchisee Notes have payment terms of up to 10 years and include financing to fund business startup costs including: (i) installment loans to franchisees used generally to finance inventory, equipment, and franchise fees; and (ii) lines of credit to finance working capital, including additional purchases of inventory. Revenues associated with the Company’s interest income related to financing receivables are recognized to approximate a constant effective yield over the contract term. Accrued interest is included in Accounts receivable less allowance for credit losses and is insignificant as of October 1, 2021 and December 31, 2020. Product sales to franchisees and the related financing income is included in Cash flows from operating activities in the accompanying Consolidated and Combined Condensed Statements of Cash Flows. The components of financing receivables with payments due in less than twelve months that are recorded in Accounts receivable less allowance for credit losses on the Consolidated Condensed Balance Sheets were as follows: ($ in millions) October 1, 2021 December 31, 2020 Gross current financing receivables: PSAs $ 98.0 $ 98.9 Franchisee Notes 15.1 15.5 Current financing receivables, gross $ 113.1 $ 114.4 Allowance for credit losses: PSAs $ 18.5 $ 15.8 Franchisee Notes 6.3 6.6 Total allowance for credit losses 24.8 22.4 Total current financing receivables, net $ 88.3 $ 92.0 Net current financing receivables: PSAs, net $ 79.5 $ 83.1 Franchisee Notes, net 8.8 8.9 Total current financing receivables, net $ 88.3 $ 92.0 The components of financing receivables with payments due beyond one year were as follows: ($ in millions) October 1, 2021 December 31, 2020 Gross long-term financing receivables: PSAs $ 221.6 $ 219.3 Franchisee Notes 63.4 58.6 Long-term financing receivables, gross $ 285.0 $ 277.9 Allowance for credit losses: PSAs $ 37.0 $ 38.5 Franchisee Notes 5.3 5.9 Total allowance for credit losses 42.3 44.4 Total long-term financing receivables, net $ 242.7 $ 233.5 Net long-term financing receivables: PSAs, net $ 184.6 $ 180.8 Franchisee Notes, net 58.1 52.7 Total long-term financing receivables, net $ 242.7 $ 233.5 Net deferred origination costs were insignificant as of October 1, 2021 and December 31, 2020. As of October 1, 2021 and December 31, 2020, we had a net unamortized discount on our financing receivables of $17.2 million and $18.4 million, respectively. It is the Company’s general practice to not engage in contract or loan modifications of existing arrangements for troubled debt restructurings. In limited instances, the Company may modify certain impaired receivables with customers in bankruptcy or other legal proceedings, or in the event of significant natural disasters. Restructured financing receivables as of October 1, 2021 and December 31, 2020 were insignificant. Credit score and distributor tenure are the primary indicators of credit quality for the Company’s financing receivables. Depending on the contract, payments for financing receivables are due on a monthly or weekly basis. Weekly payments are converted into a monthly equivalent for purposes of calculating delinquency. Delinquencies are assessed at the end of each month following the monthly equivalent due date and are considered delinquent once past due. The amortized cost basis of PSAs and Franchisee Notes by origination year as of October 1, 2021, is as follows: ($ in millions) 2021 2020 2019 2018 2017 Prior Total PSAs Credit Score: Less than 400 $ 15.3 $ 10.0 $ 5.8 $ 2.6 $ 0.9 $ 0.2 $ 34.8 400-599 19.8 15.6 8.4 4.2 1.3 0.5 49.8 600-799 41.9 29.8 16.2 7.9 2.5 0.9 99.2 800+ 61.7 40.4 20.7 9.8 2.6 0.6 135.8 Total PSAs $ 138.7 $ 95.8 $ 51.1 $ 24.5 $ 7.3 $ 2.2 $ 319.6 Franchisee Notes Active distributors $ 22.5 $ 17.8 $ 13.4 $ 6.8 $ 3.8 $ 3.9 $ 68.2 Separated distributors 0.2 1.0 1.7 1.7 1.7 4.0 10.3 Total Franchisee Notes $ 22.7 $ 18.8 $ 15.1 $ 8.5 $ 5.5 $ 7.9 $ 78.5 Past Due PSAs are considered past due when a contractual payment has not been made. If a customer is making payments on its account, interest will continue to accrue. The table below sets forth the aging of the Company’s PSA balances as of: ($ in millions) 30-59 days past due 60-90 days past due Greater than 90 days past due Total past due Total not considered past due Total Greater than 90 days past due and accruing interest October 1, 2021 $ 3.1 $ 1.5 $ 6.2 $ 10.8 $ 308.8 $ 319.6 $ 6.2 December 31, 2020 3.5 1.8 7.2 12.5 305.7 318.2 7.2 Franchisee Notes are considered past due when payments have not been made for 21 days after the due date. Past due Franchisee Notes (where the franchisee had not yet separated) were insignificant as of October 1, 2021 and December 31, 2020. Uncollectable Status PSAs are deemed uncollectable and written off when they are both contractually delinquent and no payment has been received for 180 days. Franchisee Notes are deemed uncollectable and written off after a distributor separates and no payments have been received for one year. The Company stops accruing interest and other fees associated with financing receivables when (i) a customer is placed in uncollectable status and repossession efforts have begun; (ii) upon receipt of notification of bankruptcy; (iii) upon notification of the death of a customer; or (iv) other instances in which management concludes collectability is not reasonably assured. Allowance for Credit Losses Related to Financing Receivables The Company calculates the allowance for credit losses considering several factors, including the aging of its financing receivables, historical credit loss and portfolio delinquency experience and current economic conditions. The Company also evaluates financing receivables with identified exposures, such as customer defaults, bankruptcy or other events that make it unlikely it will recover the amounts owed to it. In calculating such reserves, the Company evaluates expected cash flows, including estimated proceeds from disposition of collateral, and calculates an estimate of the potential loss and the probability of loss. When a loss is considered probable on an individual financing receivable, a specific reserve is recorded. The following is a rollforward of the PSAs and Franchisee Notes components of the Company’s allowance for credit losses related to financing receivables as of: October 1, 2021 December 31, 2020 ($ in millions) PSAs Franchisee Notes Total PSAs Franchisee Notes Total Allowance for credit losses, beginning of year $ 54.3 $ 12.5 $ 66.8 $ 29.4 $ 11.9 $ 41.3 Transition adjustment — — — 17.5 1.0 18.5 Provision for credit losses 20.4 2.9 23.3 29.3 5.9 35.2 Write-offs (21.1) (4.4) (25.5) (32.5) (6.5) (39.0) Recoveries of amounts previously charged off 1.9 0.6 2.5 2.7 0.2 2.9 Other adjustment — — — 7.9 — 7.9 Allowance for credit losses, end of period $ 55.5 $ 11.6 $ 67.1 $ 54.3 $ 12.5 $ 66.8 The ending balance as of October 1, 2021 of $67.1 million is included in the Consolidated Condensed Balance Sheets in Accounts receivable less allowance for credit losses and Long-term financing receivables less allowance for credit losses in the amounts of $24.8 million and $42.3 million, respectively. The ending balance as of December 31, 2020 of $66.8 million is included in the Consolidated Condensed Balance Sheets in Accounts receivable less allowance for credit losses and Long-term financing receivables less allowance for credit losses in the amounts of $22.4 million and $44.4 million, respectively. Allowance for Credit Losses Related to Trade Accounts Receivables The following is a rollforward of the allowance for credit losses related to the Company’s trade accounts receivables (excluding financing receivables) and the Company’s trade accounts receivable cost basis as of October 1, 2021: ($ in millions) Cost basis of trade accounts receivable as of October 1, 2021 $ 401.9 Allowance for credit losses balance as of December 31, 2020 $ 18.1 Provision for credit losses 4.3 Write-offs (6.4) Foreign currency and other 0.4 Allowance for credit losses balance as of October 1, 2021 16.4 Net trade accounts receivable balance as of October 1, 2021 $ 385.5 The following is a rollforward of the allowance for credit losses related to the Company’s trade accounts receivables (excluding financing receivables) and the Company’s trade accounts receivable cost basis as of December 31, 2020: ($ in millions) Cost basis of trade accounts receivable as of December 31, 2020 $ 373.2 Allowance for credit losses balance as of December 31, 2019 $ 15.0 Adoption of new accounting standard 3.6 Provision for credit losses 7.7 Write-offs (9.1) Foreign currency and other 0.9 Allowance for credit losses balance as of December 31, 2020 18.1 Net trade accounts receivable balance as of December 31, 2020 $ 355.1

Goodwill

Goodwill	9 Months Ended
	Oct. 01, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	NOTE 4. GOODWILL The following is a rollforward of our carrying value of goodwill: ($ in millions) Balance, December 31, 2020 $ 1,092.1 Addition to goodwill for current year acquisition 587.4 FX translation (14.7) Balance, October 1, 2021 $ 1,664.8 Accumulated impairment charges were $85.3 million as of October 1, 2021 and December 31, 2020. No impairment charges were recorded during the nine months ended October 1, 2021.

Financing

Financing	9 Months Ended
	Oct. 01, 2021
Debt Disclosure [Abstract]
Financing	NOTE 5. FINANCING The Company had the following debt outstanding as of: ($ in millions) October 1, 2021 December 31, 2020 Short-term borrowings: India Credit Facility $ 2.1 $ 10.9 Other short-term borrowings and bank overdrafts 2.4 — Total short-term borrowings $ 4.5 $ 10.9 Long-term debt: Two-Year Term Loans $ — $ 1,000.0 Two-Year Term Loans due 2023 600.0 — Three-Year Term Loans due 2024 400.0 800.0 1.800% senior unsecured notes due 2026 500.0 — 2.400% senior unsecured notes due 2028 500.0 — 2.950% senior unsecured notes due 2031 600.0 — Total long-term debt 2,600.0 1,800.0 Less: discounts and debt issuance costs (16.9) (4.7) Total long-term debt, net $ 2,583.1 $ 1,795.3 Credit Facilities On September 29, 2020, we entered into a credit agreement (the “Credit Agreement”) with a syndicate of banks, consisting of a three-year, $800.0 million senior unsecured delayed draw term loan facility (the “Three-Year Term Loans”), a two-year, $1.0 billion senior unsecured delayed draw term loan facility (the “Two-Year Term Loans” and together with the Three-Year Term Loans, the “Term Loans”) and a three-year, $750.0 million senior unsecured multi-currency revolving credit facility, including a $25.0 million sublimit for swingline loans and a $75.0 million sublimit for the issuance of letters of credit (the “Revolving Credit Facility” and, together with the Term Loans, the “Credit Facilities”). We incurred $7.7 million in debt issuance costs which were paid by Fortive. Due to the repayment of the Term Loans in connection with the issuance of the Notes, as discussed below, $3.2 million of these debt issuance costs were expensed and reported in the accompanying Consolidated and Combined Condensed Statement of Earnings and Comprehensive Income within non-operating expenses as a Write-off of deferred financing costs. Additionally, as part of the A&R Credit Agreement, as defined below, the Company wrote off $0.2 million of the unamortized debt issuance costs. On April 28, 2021 (the “Closing Date”), the Company refinanced the Credit Agreement. The amended and restated credit agreement (the “A&R Credit Agreement”) extended the term of the remaining $400.0 million Three-Year Term Loans from October 6, 2023 to October 28, 2024. The A&R Credit Agreement also lowered the Three-Year Term Loans variable interest rate, determined based upon a ratings-based pricing grid, by 50 basis points, from LIBOR plus 162.5 basis points under the prior agreement to LIBOR plus 112.5 basis points as of the Closing Date. The A&R Credit Agreement also extended the term of the undrawn $750.0 million Revolving Credit Facility from September 29, 2023 to April 28, 2026. The A&R Credit Agreement lowered the Revolving Credit Facility variable interest rate, determined based upon a ratings-based pricing grid, by 25 basis points, from LIBOR plus 142.5 basis points under the prior agreement to LIBOR plus 117.5 basis points as of the Closing Date. The A&R Credit Agreement made certain other changes to the Credit Agreement to address the discontinuation of LIBOR and its impact on U.S. dollar and multicurrency loans, as well as other immaterial changes. The Company’s two wholly-owned subsidiaries which were Guarantors under the Credit Agreement continue to be Guarantors under the A&R Credit Agreement. In entering into the A&R Credit Agreement, the Company incurred $1.4 million of debt issuance costs of which $1.2 million was capitalized and $0.2 million was expensed. Two-Year Term Loans On March 10, 2021, in connection with the issuance of the Notes, as discussed below, we repaid, in full, the Two-Year Term Loans. Three-Year Term Loans Due 2024 On March 10, 2021, in connection with the issuance of the Notes, we repaid $400.0 million of our Three-Year Term Loans. The Three-Year Term Loans bear interest at a variable rate equal to LIBOR plus a ratings-based margin which was 112.5 basis points as of October 1, 2021. The interest rate on the Three-Year Term Loans outstanding as of October 1, 2021, was 1.20% per annum. The Three-Year Term Loans mature on October 28, 2024 and we are not obligated to make repayments prior to the maturity date. We are not permitted to re-borrow once the Three-Year Term Loans are repaid and there is no further ability to draw on the facility. There was no material difference between the carrying value and the estimated fair value of the debt outstanding. The A&R Credit Agreement requires, among others, that we maintain certain financial covenants, and we were in compliance with all of these covenants as of October 1, 2021. Two-Year Term Loans Due 2023 On August 5, 2021, the Company entered into a two-year, $600.0 million senior unsecured delayed-draw term loan (the “Two-Year Term Loans Due 2023”) with a syndicate of lenders. The Company’s two wholly-owned subsidiaries which are Guarantors under the A&R Credit Agreement are also Guarantors under the two-year, $600.0 million senior unsecured delayed-draw term loan. On September 13, 2021, the Company drew the entire $600.0 million and used the proceeds to fund the acquisition of DRB. The Two-Year Term Loans Due 2023 bear interest at a variable rate equal to LIBOR plus a ratings-based margin which was 75.0 basis points as of October 1, 2021. The interest rate on the Two-Year Term Loans outstanding as of October 1, 2021, was 0.83% per annum. The Two-Year Term Loans Due 2023 mature on September 13, 2023 and we are not obligated to make repayments prior to the maturity date. We are not permitted to re-borrow once the Two-Year Term Loans Due 2023 are repaid and there is no further ability to draw on the facility. As of October 1, 2021, there was no material difference between the carrying value and the estimated fair value of the debt outstanding. The Two-Year Term Loans Due 2023 require, among others, that we maintain certain financial covenants, and we were in compliance with all of these covenants as of October 1, 2021. Revolving Credit Facility The $750.0 million Revolving Credit Facility requires the Company to pay lenders a commitment fee of 0.125% to 0.325% based on a ratings grid. As of October 1, 2021, there were no amounts outstanding under the Revolving Credit Facility. The Revolving Credit Facility bears interest at a variable rate equal to LIBOR plus a ratings-based margin which was 117.5 basis points as of October 1, 2021. Senior Unsecured Notes On March 10, 2021, we completed the private placement of each of the following series of senior unsecured notes (collectively, the “Notes”) to qualified institutional buyers under rule 144A of the Securities Act of 1933, as amended (the “Securities Act”) and outside the United States to non-U.S. persons in compliance with Regulation S under the Securities Act: • $500.0 million aggregate principal amount of senior notes due April 1, 2026 (the “2026 Notes”) issued at 99.855% of their principal amount and bearing interest at the rate of 1.800% per year; • $500.0 million aggregate principal amount of senior notes due April 1, 2028 (the “2028 Notes”) issued at 99.703% of their principal amount and bearing interest at the rate of 2.400% per year; and • $600.0 million aggregate principal amount of senior notes due April 1, 2031 the (the “2031 Notes”) issued at 99.791% of their principal amount and bearing interest at the rate of 2.950% per year. The Notes are fully and unconditionally guaranteed (the “Guarantees”), on a joint and several basis, by Gilbarco Inc. and Matco Tools Corporation, two of our wholly-owned subsidiaries (the “Guarantors”). Interest on the Notes is payable semi-annually in arrears on April 1 and October 1 of each year, commencing on October 1, 2021. The Notes and the Guarantees are the Company’s and the Guarantors’ general senior unsecured obligations. The Company received approximately $1.6 billion in net proceeds from the issuance of the Notes, which was partially offset by discounts of $3.5 million and debt issuance costs of $13.9 million. The Company used the net proceeds to repay the Two-Year Term Loans in full and $400.0 million of our Three-Year Term Loans with the remainder used for working capital and other general corporate purposes. In connection with the issuance of the Notes, we entered into a registration rights agreement, pursuant to which we are obligated to use commercially reasonable efforts to file with the U.S. Securities and Exchange Commission, and cause to be declared effective within 365 days, a registration statement with respect to an offer to exchange each series of Notes for registered notes with terms that are substantially identical to the Notes of each series. Alternatively, if the exchange offers are not available or cannot be completed, we would be required to use commercially reasonable efforts to file, and cause to become effective, a shelf registration statement to cover resales of the Notes under the Securities Act. If we do not comply with these obligations, we will be required to pay additional interest on the Notes. We may redeem some or all of each series of the Notes at any time prior to the dates specified in the Notes indenture (the “Call Dates”) at a redemption price equal to the greater of (i) 100% of the principal amount of the Notes of such series to be redeemed, and (ii) the sum of the present values of the remaining scheduled payments of principal and interest on such series of Notes to be redeemed discounted to the date of redemption on a semi-annual basis at the applicable Treasury Rate plus 20 basis points in the case of the 2026 Notes and 2028 Notes and plus 25 basis points in the case of the 2031 Notes, plus the accrued and unpaid interest. Call dates for the 2026 Notes, 2028 Notes and 2031 Notes are March 1, 2026, February 1, 2028 and January 1, 2031, respectively. If a change of control triggering event occurs, we will, in certain circumstances, be required to make an offer to repurchase the Notes at a purchase price equal to 101% of the aggregate principal amount plus accrued and unpaid interest. 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 Notes indenture. Except in connection with a change of control triggering event, the Notes do not have any credit rating downgrade triggers that would accelerate the maturity of the Notes. The Notes contain customary covenants, including limits on the incurrence of certain secured debt and sale-leaseback transactions. None of these covenants are considered restrictive to our operations and as of October 1, 2021, we were in compliance with all of the covenants under the Notes. The estimated fair value of the Notes was $1.6 billion as of October 1, 2021. The fair value of the Notes was determined based upon Level 2 inputs including indicative prices based upon observable market data. The difference between the fair value and the carrying amounts of the Notes may be attributable to changes in market interest rates and/or our credit ratings subsequent to the incurrence of the borrowing. Short-term Borrowings India Credit Facility The Company has a credit facility with Citibank, N.A. with borrowing capacity of up to 850.0 million Indian Rupees (or $11.5 million as of October 1, 2021) to facilitate working capital needs for certain businesses in India. As of October 1, 2021, the Company had $9.4 million borrowing capacity remaining. The effective interest rate associated with outstanding borrowings was 5.00% as of October 1, 2021. Other As of October 1, 2021, certain of our businesses were in a cash overdraft position, and such overdrafts are included in Short-term borrowings on the Consolidated Condensed Balance Sheet. Additionally, the Company has other short-term borrowing arrangements with various banks to facilitate short-term cash flow requirements in certain countries also included in Short-term borrowings on the Consolidated Condensed Balance Sheet. Interest payments associated with the above short-term borrowings were not significant for the nine months ended October 1, 2021 and September 25, 2020.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	9 Months Ended
	Oct. 01, 2021
Equity [Abstract]
Accumulated Other Comprehensive Income	NOTE 6. ACCUMULATED OTHER COMPREHENSIVE INCOME Foreign currency translation adjustments are generally not adjusted for income taxes as they relate to indefinite investments in non-U.S. subsidiaries. The changes in Accumulated other comprehensive income by component are summarized below: ($ in millions) Foreign Currency Translation Adjustments Other Adjustments (a) Total For the Three Months Ended October 1, 2021: Balance, July 2, 2021 $ 180.6 $ (4.4) $ 176.2 Other comprehensive income (loss) before reclassifications, net of income taxes (7.0) — (7.0) Amounts reclassified from accumulated other comprehensive income: Increase — 0.2 0.2 Amounts reclassified from accumulated other comprehensive income, net of income taxes — 0.2 (b) 0.2 Net current period other comprehensive income (loss), net of income taxes (7.0) 0.2 (6.8) Balance, October 1, 2021 $ 173.6 $ (4.2) $ 169.4 For the Three Months Ended September 25, 2020: Balance, June 26, 2020 $ 126.1 $ (3.2) $ 122.9 Other comprehensive income (loss) before reclassifications, net of income taxes 14.3 — 14.3 Amounts reclassified from accumulated other comprehensive income: Increase — 0.1 0.1 Amounts reclassified from accumulated other comprehensive income, net of income taxes — 0.1 (b) 0.1 Net current period other comprehensive income (loss), net of income taxes 14.3 0.1 14.4 Balance, September 25, 2020 $ 140.4 $ (3.1) $ 137.3 (a) Includes balances relating to defined benefit plans and supplemental executive retirement plans. (b) This accumulated other comprehensive income component is included in the computation of net periodic pension cost. ($ in millions) Foreign Currency Translation Adjustments Other Adjustments (a) Total For the Nine Months Ended October 1, 2021: Balance, December 31, 2020 $ 198.3 $ (4.5) $ 193.8 Other comprehensive income (loss) before reclassifications, net of income taxes (24.7) — (24.7) Amounts reclassified from accumulated other comprehensive income: Increase — 0.4 0.4 Income tax impact — (0.1) (0.1) Amounts reclassified from accumulated other comprehensive income, net of income taxes — 0.3 (b) 0.3 Net current period other comprehensive income (loss), net of income taxes (24.7) 0.3 (24.4) Balance, October 1, 2021 $ 173.6 $ (4.2) $ 169.4 For the Nine Months Ended September 25, 2020: Balance, December 31, 2019 $ 153.7 $ (5.0) $ 148.7 Other comprehensive income (loss) before reclassifications, net of income taxes (13.3) — (13.3) Amounts reclassified from accumulated other comprehensive income: Increase — 2.0 2.0 Income tax impact — (0.1) (0.1) Amounts reclassified from accumulated other comprehensive income, net of income taxes — 1.9 (b) 1.9 Net current period other comprehensive income (loss), net of income taxes (13.3) 1.9 (11.4) Balance, September 25, 2020 $ 140.4 $ (3.1) $ 137.3 (a) Includes balances relating to defined benefit plans and supplemental executive retirement plans. (b) This accumulated other comprehensive income component is included in the computation of net periodic pension cost.

Sales

Sales	9 Months Ended
	Oct. 01, 2021
Revenue from Contract with Customer [Abstract]
Sales	NOTE 7. SALES 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 or 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 subject to contractual performance obligations and not only subject to the passage of time. Contract assets were $10.3 million and $9.0 million as of October 1, 2021 and December 31, 2020, respectively, and are included in Prepaid expenses and other current assets. Contract Costs We incur direct incremental costs to obtain certain contracts, typically sales-related commissions and costs associated with assets used by our customers in certain service arrangements. As of October 1, 2021 and December 31, 2020, we had $76.3 million and $81.2 million, respectively, in net revenue-related capitalized contract costs primarily related to assets used by our customers in certain software contracts, which are recorded in Prepaid expenses and other current assets, for the current portion, and Other assets, for the noncurrent portion, in the accompanying Consolidated Condensed Balance Sheets. These assets have estimated useful lives between 3 and 5 years and are amortized on a straight-line basis. Impairment losses recognized on our revenue-related contract assets were insignificant during the three and nine months ended October 1, 2021 and September 25, 2020. Contract Liabilities The Company’s contract liabilities consist of deferred revenue generally related to post contract support (“PCS”) and extended warranty sales. In these arrangements, the Company generally receives up-front payment and recognizes revenue over the support term of the contracts. Deferred revenue is classified as current or noncurrent based on the timing of when revenue is expected to be recognized and is included in Accrued expenses and other current liabilities and Other long-term liabilities, respectively, in the accompanying Consolidated Condensed Balance Sheets. The Company’s contract liabilities consisted of the following: ($ in millions) October 1, 2021 December 31, 2020 Deferred revenue - current $ 120.8 $ 87.6 Deferred revenue - noncurrent 59.4 58.3 Total contract liabilities $ 180.2 $ 145.9 During the three and nine months ended October 1, 2021, we recognized $11.9 million and $51.1 million of revenue related to the Company’s contract liabilities at December 31, 2020. The change in contract liabilities from December 31, 2020 to October 1, 2021 was primarily due to the acquisition of DRB and inclusion of the acquired contract liabilities as well as the timing of cash receipts and sales of PCS and extended warranty services. Remaining Performance Obligations Remaining performance obligations represent the transaction price of firm, noncancelable orders and the annual contract value for software-as-a-service contracts with expected customer delivery dates beyond one year from October 1, 2021 for which work has not been performed. The Company has excluded performance obligations with an original expected duration of one year or less. Performance obligations as of October 1, 2021 are $385.1 million, the majority of which are related to the annual contract value for software-as-a-service contracts. The Company expects approximately 35 percent of the remaining performance obligations will be fulfilled within the next two years, 65 percent within the next three years, and substantially all within four years. Disaggregation of Revenue The Company disaggregates revenue from contracts with customers by sales of products and services, geographic location, solution and major product group, as it best depicts how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors. Disaggregation of revenue was as follows: Three Months Ended Nine Months Ended ($ in millions) October 1, 2021 September 25, 2020 October 1, 2021 September 25, 2020 Sales: Sales of products $ 699.7 $ 686.0 $ 2,005.1 $ 1,713.9 Sales of services 68.8 60.7 195.4 175.7 Total $ 768.5 $ 746.7 $ 2,200.5 $ 1,889.6 Geographic: North America (a) $ 547.0 $ 539.9 $ 1,568.2 $ 1,348.3 Western Europe 68.7 63.7 191.3 176.6 High growth markets 115.8 111.7 337.1 279.5 Rest of world 37.0 31.4 103.9 85.2 Total $ 768.5 $ 746.7 $ 2,200.5 $ 1,889.6 Solution: Retail fueling hardware $ 243.6 $ 225.5 $ 648.9 $ 562.4 Auto repair 156.1 145.5 485.2 382.9 Service and other recurring revenue 118.0 116.2 361.4 315.0 Environmental 73.3 61.7 198.4 162.6 Retail solutions 96.4 122.3 285.1 256.8 Software-as-a-service 45.7 45.1 139.2 134.5 Smart cities 9.6 8.9 26.7 23.4 E-mobility 4.7 5.7 8.1 12.2 Other 21.1 15.8 47.5 39.8 Total $ 768.5 $ 746.7 $ 2,200.5 $ 1,889.6 Major Product Group: Mobility technologies $ 588.6 $ 578.6 $ 1,641.6 $ 1,441.6 Diagnostics and repair technologies 179.9 168.1 558.9 448.0 Total $ 768.5 $ 746.7 $ 2,200.5 $ 1,889.6 (a) Includes sales in the United States of $526.7 million and $525.5 million for the three months ended October 1, 2021 and September 25, 2020, respectively, and sales in the United States of $1,513.3 million and $1,309.2 million for the nine months ended October 1, 2021 and September 25, 2020, respectively.

Income Taxes

Income Taxes	9 Months Ended
	Oct. 01, 2021
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 8. INCOME TAXES Our effective tax rate for the three and nine months ended October 1, 2021 was 19.6% and 22.2%, respectively, as compared to 20.9% and 29.0% for the three and nine months ended September 25, 2020, respectively. The year-over-year decrease in the effective tax rate for the three months ended October 1, 2021 as compared to the comparable period in the prior year was primarily due to an increase in non-taxable income. The year-over-year decrease in the effective tax rate for the nine months ended October 1, 2021 as compared to the comparable period in the prior year was primarily due to a non-deductible book goodwill impairment recognized in the nine months ended September 25, 2020.

Leases

Leases	9 Months Ended
	Oct. 01, 2021
Leases [Abstract]
Leases	NOTE 9. LEASES Operating lease cost was $5.3 million for both the three months ended October 1, 2021 and September 25, 2020. For the nine months ended October 1, 2021 and September 25, 2020, operating lease cost was $15.8 million and $15.6 million, respectively. During the nine months ended October 1, 2021 and September 25, 2020, cash paid for operating leases included in operating cash flows was $14.1 million and $14.7 million, respectively. Right-of-use assets obtained in exchange for operating lease obligations were $15.7 million and $11.5 million for the nine months ended October 1, 2021 and September 25, 2020, respectively.

Litigation and Contingencies

Litigation and Contingencies	9 Months Ended
	Oct. 01, 2021
Commitments and Contingencies Disclosure [Abstract]
Litigation and Contingencies	NOTE 10. LITIGATION AND CONTINGENCIES Warranty We generally accrue estimated warranty costs at the time of sale. In general, manufactured products are warrantied 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 ninety days up to the life of the product. The amount of the accrued warranty liability is determined based on historical information such as past experience, product failure rates or number of units repaired, estimated cost of material and labor, and in certain instances estimated property damage. The accrued warranty liability is reviewed on a quarterly basis and may be adjusted as additional information regarding expected warranty costs becomes known. The following is a rollforward of the Company’s accrued warranty liability: ($ in millions) Balance, December 31, 2020 $ 54.6 Accruals for warranties issued during the period 24.3 Settlements made (26.5) Additions due to acquisition 0.5 Effect of foreign currency translation (0.1) Balance, October 1, 2021 $ 52.8 Litigation and Other Contingencies The Company is involved in legal proceedings from time to time in the ordinary course of its business. Although the outcome of such matters is uncertain, management believes that these legal proceedings will not have a material adverse effect on the financial condition or results of future operations of the Company. In accordance with accounting guidance, the Company records a liability in the Consolidated and Combined Condensed Financial Statements for loss contingencies when a loss is known or considered probable and the amount can be reasonably estimated. If the reasonable estimate of a known or probable loss is a range, and no amount within the range is a better estimate than any other, the minimum amount of the range is accrued. If a loss does not meet the known or probable level but is reasonably possible and a loss or range of loss can be reasonably estimated, the estimated loss or range of loss is disclosed. Our reserves consist of specific reserves for individual claims and additional amounts for anticipated developments of these claims as well as for incurred but not yet reported claims. The specific reserves for individual known claims are quantified with the assistance of legal counsel and outside risk insurance professionals where appropriate. In addition, outside risk insurance professionals may assist in the determination of reserves for incurred but not yet reported claims through evaluation of our specific loss history, actual claims reported, and industry trends among statistical and other factors. Reserve estimates are adjusted as additional information regarding a claim becomes known. While we actively pursue financial recoveries from insurance providers, the Company does not recognize any recoveries until realized or until such time as a sustained pattern of collections is established related to historical matters of a similar nature and magnitude. If the risk insurance reserves the Company has established are inadequate, we would be required to incur an expense equal to the amount of the loss incurred in excess of the reserves, which would adversely affect our net earnings. In connection with the recognition of liabilities for asbestos related matters, the Company records insurance recoveries that are deemed probable and estimable. In assessing the probability of insurance recovery, we make judgments concerning insurance coverage that we believe are reasonable and consistent with our historical dealings, our knowledge of any pertinent solvency issues surrounding insurers, and litigation and court rulings potentially impacting coverage. While the substantial majority of our insurance carriers are solvent, some of our individual carriers are insolvent, which has been considered in the analysis of probable recoveries. Projecting future events is subject to various uncertainties, including litigation and court rulings potentially impacting coverage, that could cause insurance recoveries on asbestos related liabilities to be higher or lower than those projected and recorded. Given the inherent uncertainty in making future projections, the Company reevaluates projections concerning the Company’s probable insurance recoveries considering any changes to the projected liabilities, the Company’s recovery experience or other relevant factors that may impact future insurance recoveries. We recorded gross liabilities associated with known and future expected asbestos claims of $68.1 million and $68.0 million as of October 1, 2021 and December 31, 2020, respectively. Known and future expected asbestos claims of $15.8 million and $17.5 million are included in Accrued expenses and other current liabilities on the Consolidated Condensed Balance Sheets as of October 1, 2021 and December 31, 2020, respectively. Known and future expected asbestos claims of $52.3 million and $50.5 million are included in Other long-term liabilities on the Consolidated Condensed Balance Sheets as of October 1, 2021 and December 31, 2020, respectively. We recorded the related projected insurance recoveries of $33.2 million and $36.0 million as of October 1, 2021 and December 31, 2020, respectively. Projected insurance recoveries in the accompanying Consolidated Condensed Balance Sheets as of October 1, 2021 include $8.0 million in Prepaid expenses and other current assets and $25.2 million in Other assets. Projected insurance recoveries in the accompanying Consolidated Condensed Balance Sheets as of December 31, 2020 include $10.8 million in Prepaid expenses and other current assets and $25.2 million in Other assets. Guarantees As of October 1, 2021 and December 31, 2020, we had guarantees consisting primarily of outstanding standby letters of credit, bank guarantees, and performance and bid bonds of approximately $91.6 million and $84.5 million, respectively. These guarantees have been provided in connection with certain arrangements with vendors, customers, financing counterparties, and governmental entities to secure our obligations and/or performance requirements related to specific transactions. In general, we would only be liable for the amount of these guarantees in the event of default in the performance of our obligations. Refer to Note 5. Financing for information regarding guarantees of the Notes by certain of our wholly-owned subsidiaries.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Oct. 01, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	NOTE 11. FAIR VALUE MEASUREMENTS Accounting standards define fair value based on an exit price model, establish a framework for measuring fair value where our assets and liabilities are required to be carried at fair value and provide for certain disclosures related to the valuation methods used within a valuation hierarchy as established within the accounting standards. This hierarchy prioritizes the inputs into three broad levels as follows: • Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities. • 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 as of: ($ in millions) Quoted Prices Significant Other Significant Total October 1, 2021 Deferred compensation liabilities $ — $ 4.5 $ — $ 4.5 December 31, 2020 Deferred compensation liabilities $ — $ 3.7 $ — $ 3.7 Certain management employees participate in our nonqualified deferred compensation programs that permit such employees to defer a portion of their compensation, on a pretax basis, until after their termination of employment. All amounts deferred under such plans are unfunded, unsecured obligations and are presented as a component of our compensation and benefits accrual included in Other long-term liabilities in the 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 (“401(k) Programs”) (except that the earnings rates for amounts contributed unilaterally by the Company are entirely based on changes in the value of our common stock). Changes in the deferred compensation liability under these programs are recognized based on changes in the fair value of the participants’ accounts, which are based on the applicable earnings rates. Other Investments The Company holds a minority interest in Tritium Holdings Pty, Ltd (“Tritium”) of $52.1 million, which is recorded in Other assets on the Consolidated Condensed Balance Sheets at cost. The Company has elected to use the measurement alternative for equity investments without readily determinable fair values and evaluate this investment for indicators of impairment quarterly. The Company did not identify events or changes in circumstances that may have a significant effect on the fair value of the investment during the three and nine months ended October 1, 2021. During the nine months ended October 1, 2021, we made additional investments in Tritium of $6.8 million and reduced our investment by $3.8 million due to the settlement of our call option. Nonrecurring Fair Value Measurements Certain assets and liabilities are carried on the accompanying Consolidated Condensed Balance Sheets at cost and are not remeasured to fair value on a recurring basis. These assets include finite-lived intangible assets, which are tested when a triggering event occurs, and goodwill and identifiable indefinite-lived intangible assets, which are tested for impairment at least annually as of the first day of the fourth quarter or more frequently if events and circumstances indicate that the asset may not be recoverable. As of October 1, 2021, assets carried on the balance sheet and not remeasured to fair value on a recurring basis were $1.7 billion of goodwill and $631.5 million of identifiable intangible assets, net. Refer to Note 5. Financing for information related to the fair value of the Company’s borrowings.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Oct. 01, 2021
Related Party Transactions [Abstract]
Related Party Transactions	NOTE 12. RELATED-PARTY TRANSACTIONS In connection with the Separation, we entered into the Agreements with Fortive which govern the Separation and provide a framework for the relationship between the parties going forward, including an employee matters agreement, a tax matters agreement, an intellectual property matters agreement, an FBS license agreement and a transition services agreement. Employee Matters Agreement The employee matters agreement sets forth, among other things, the allocation of assets, liabilities and responsibilities relating to employee compensation and benefit plans and programs and other related matters in connection with the Separation, including the treatment of outstanding equity and other incentive awards and certain retirement and welfare benefit obligations. Tax Matters Agreement The tax matters agreement governs the respective rights, responsibilities and obligations of both Fortive and Vontier after the Separation with respect to tax liabilities and benefits, tax attributes, the preparation and filing of tax returns, the control of audits and other tax proceedings and other matters regarding taxes. Intellectual Property Matters Agreement The intellectual property matters agreement sets forth the terms and conditions pursuant to which Fortive and Vontier have mutually granted certain personal, generally irrevocable, non-exclusive, worldwide, and royalty-free rights to use certain intellectual property. Both parties are able to sublicense their rights in connection with activities relating to their businesses, but not for independent use by third parties. FBS License Agreement The FBS license agreement sets forth the terms and conditions pursuant to which Fortive has granted a non-exclusive, worldwide, non-transferable, perpetual license to us to use FBS solely in support of our businesses. We are able to sublicense such license solely to direct and indirect wholly-owned subsidiaries. Transition Services Agreement (“TSA”) The TSA sets forth the terms and conditions pursuant to which Vontier and our subsidiaries and Fortive and its subsidiaries will provide to each other various services after the Separation. The services to be provided include information technology, facilities, certain accounting and other financial functions, and administrative services. The charges for the transition services generally are expected to allow the providing company to fully recover all out-of-pocket costs and expenses it actually incurs in connection with providing the service, plus, in some cases, the allocated indirect costs of providing the services, generally without profit. TSA Payments In accordance with the TSA, receipts from Fortive were immaterial during the three and nine months ended October 1, 2021. During the nine months ended October 1, 2021, we made net payments to Fortive of $48.5 million. Net payments during the nine months ended October 1, 2021 included approximately $30 million of our share of the transaction taxes related to the Separation. Payments made during the three months ended October 1, 2021 were not significant. Allocations of Expenses Prior to the Separation The Company has historically operated as part of Fortive and not as a stand-alone company. Accordingly, certain shared costs have been allocated to the Company by Fortive, and are reflected as expenses in these financial statements. Management considers the allocation methodologies used to be reasonable and appropriate reflections of the related expenses attributable to the Company for purposes of the carve-out financial statements; however, the expenses reflected in the accompanying Combined Condensed Financial Statements may not be indicative of the actual expenses that would have been incurred during the periods presented if the Company had operated as a separate stand-alone entity and the expenses that will be incurred in the future by the Company. The amounts of related party expenses allocated to the Company from Fortive and its subsidiaries for the three and nine months ended September 25, 2020, were as follows: Three Months Ended Nine Months Ended ($ in millions) September 25, 2020 September 25, 2020 Allocated corporate expenses $ 9.5 $ 28.0 Directly attributable expenses: Insurance programs expenses 0.9 2.2 Medical insurance programs expenses 9.1 31.4 Deferred compensation program expenses 0.3 0.9 Total related-party expenses $ 19.8 $ 62.5 Corporate Expenses Certain corporate overhead and other shared expenses incurred by Fortive and its subsidiaries have been allocated to the Company and are reflected in the accompanying Combined Condensed Statements of Earnings and Comprehensive Income for the three and nine months ended September 25, 2020. These amounts include, but are not limited to, items such as general management and executive oversight, costs to support Vontier information technology infrastructure, facilities, compliance, human resources, and marketing, as well as legal functions and financial management and transaction processing, including public company reporting, consolidated tax filings, and tax planning, Fortive benefit plan administration, risk management and consolidated treasury services, certain employee benefits and incentives, and stock-based compensation administration. These costs have been allocated using a methodology that management believes is reasonable for the item being allocated. Allocation methodologies include the Company’s relative share of revenues, headcount, or functional spend as a percentage of the total. Following the Separation, we independently incur corporate overhead costs and no corporate overhead costs were allocated by Fortive. Insurance Programs Administered by Fortive In addition to the corporate allocations noted above, prior to the Separation, the Company was allocated expenses related to certain insurance programs Fortive administered on behalf of the Company, including automobile liability, workers’ compensation, general liability, product liability, director’s and officer’s liability, cargo, and property insurance. These amounts were allocated using various methodologies, as described below. Included within the insurance cost allocation are amounts related to programs for which Fortive was self-insured up to a certain amount. For the self-insured component, costs were allocated to the Company based on its incurred claims. Fortive has premium-based policies that cover amounts in excess of the self-insured retentions. Prior to the Separation, the Company was allocated a portion of the total insurance cost incurred by Fortive based on its pro-rata portion of Fortive’s total underlying exposure base. In connection with the Separation, we established similar independent self-insurance programs to support any outstanding claims going forward and no insurance costs were allocated by Fortive subsequent to the Separation. Medical Insurance Programs Administered by Fortive In addition to the corporate allocations noted above, the Company was allocated expenses related to the medical insurance programs administered on behalf of the Company. These amounts were allocated using actual medical claims incurred during the period for the employees attributable to the Company. In connection with the Separation, we established independent medical insurance programs similar to those previously provided by Fortive. Deferred Compensation Program Administered by Fortive Certain employees of the Company participated in Fortive’s nonqualified deferred compensation programs, which permitted officers, directors and certain management employees to defer a portion of their compensation, on a pretax basis, until after their termination of employment. Participants could have chosen among alternative earnings rates for the amounts they deferred, which were primarily based on investment options within Fortive’s 401(k) program (except that the earnings rates for amounts contributed unilaterally by Fortive were entirely based on changes in the value of Fortive’s common stock). All amounts deferred under this plan are unfunded, unsecured obligations of the Company. In connection with the Separation, we established a similar independent, nonqualified deferred compensation program. Revenue and Other Transactions Entered into in the Ordinary Course of Business Prior to the Separation, we operated as part of Fortive and not as a stand-alone company and certain of our revenue arrangements related to contracts entered into in the ordinary course of business with Fortive and its affiliates. Following the Separation, we continue to enter into arms-length revenue arrangements in the ordinary course of business with Fortive and its affiliates, although certain agreements were entered into or terminated as a result of the Separation. After the secondary offering in January 2021, Fortive no longer owned any of the Company’s outstanding common stock and is not considered a related party. Refer to Note 1. Business Overview And Basis Of Presentation for information related to the secondary offering. Certain of our revenue arrangements related to contracts entered into in the ordinary course of business with Fortive and its affiliates. Our revenue from sales to Fortive and its subsidiaries was insignificant during the three and nine months ended September 25, 2020. Purchases from Fortive and Fortive’s subsidiaries were $4.0 million and $11.9 million during the three and nine months ended September 25, 2020, respectively.

Capitalization and Earnings Per

Capitalization and Earnings Per Share	9 Months Ended
	Oct. 01, 2021
Equity [Abstract]
Capitalization and Earnings Per Share	NOTE 13. CAPITALIZATION AND EARNINGS PER SHARE Capital Stock The Company’s authorized capital stock consists of 1,985,000,000 shares of common stock, par value $0.0001 per share, and 15,000,000 shares of preferred stock with no par value, all of which shares of preferred stock are undesignated. Earnings Per Share Basic earnings per share is calculated by dividing net earnings by the weighted average number of shares of common stock outstanding. Diluted earnings per share is similarly calculated, except that the calculation includes the dilutive effect of the assumed issuance of shares under stock-based compensation plans except where the inclusion of such shares would have an anti-dilutive impact. Information related to the calculation of net earnings per share of common stock is summarized as follows: Three Months Ended Nine Months Ended ($ and shares in millions, except per share amounts) October 1, 2021 September 25, 2020 October 1, 2021 September 25, 2020 Numerator: Net earnings $ 127.3 $ 141.0 $ 300.6 $ 205.2 Denominator: Basic weighted average common shares outstanding 169.1 168.4 168.9 168.4 Effect of dilutive stock options and RSUs 1.2 — 1.1 — Diluted weighted average common shares outstanding 170.3 168.4 170.0 168.4 Earnings per share: Basic $ 0.75 $ 0.84 $ 1.78 $ 1.22 Diluted $ 0.75 $ 0.84 $ 1.77 $ 1.22 Anti-dilutive shares 1.6 — 2.5 — Share Repurchase Program On May 19, 2021, the Company’s Board of Directors approved a share repurchase program authorizing the Company to repurchase up to $500 million of the Company’s common stock from time to time on the open market or in privately negotiated transactions. The timing and amount of shares repurchased will be determined by the Company’s management based on market conditions, share price, applicable legal requirements and other factors. The Company may enter into Rule 10b5-1 plans to facilitate purchases under the share repurchase program. The share repurchase program may be suspended or discontinued at any time and has no expiration date.

Business Overview and Basis o_2

Business Overview and Basis of Presentation (Policies)	9 Months Ended
	Oct. 01, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying Consolidated and Combined Condensed Financial Statements present our historical financial position, results of operations, changes in equity and cash flows in accordance with generally accepted accounting principles in the United States of America (“GAAP”). The combined financial statements for periods prior to the Separation were derived from Fortive’s consolidated financial statements and accounting records and prepared in accordance with GAAP for the preparation of carved-out combined financial statements. Through the date of the Separation, all revenues and costs as well as assets and liabilities directly associated with Vontier have been included in the combined condensed financial statements. Prior to the Separation, the combined condensed financial statements also included allocations of certain general, administrative, sales and marketing expenses from Fortive’s corporate office and from other Fortive businesses to the Company and allocations of related assets, liabilities, and the Former Parent’s investment, as applicable. The allocations were determined on a reasonable basis; however, the amounts are not necessarily representative of the amounts that would have been reflected in the financial statements had the Company been an entity that operated independently of Fortive during the applicable periods. Related-party allocations prior to the Separation, including the method for such allocation, are discussed further in Note 12. Related-Party Transactions. Following the Separation, the consolidated condensed financial statements include the accounts of Vontier and those of our wholly-owned subsidiaries and no longer include any allocations from Fortive. Accordingly: • The Consolidated Condensed Balance Sheets as of October 1, 2021 and December 31, 2020 consist of our balances. • The Consolidated Condensed Statement of Earnings and Comprehensive Income and Consolidated Condensed Statement of Changes in Equity for the three and nine months ended October 1, 2021 as well as the Consolidated Condensed Statement of Cash Flows for the nine months ended October 1, 2021 consist of our consolidated results. The Combined Condensed Statement of Earnings and Comprehensive Income and Combined Condensed Statement of Changes in Equity for the three and nine months ended September 25, 2020 as well as the Combined Condensed Statement of Cash Flows for the nine months ended September 25, 2020 consist of the combined results of the Vontier Businesses. Our Consolidated and Combined Condensed Financial Statements may not be indicative of our results had we been a separate stand-alone entity throughout the periods presented, nor are the results stated herein indicative of what our financial position, results of operations and cash flows may be in the future. All significant transactions between the Company and Fortive have been included in the accompanying Consolidated and Combined Condensed Financial Statements for all periods presented. Cash transactions with Fortive prior to the Separation are reflected in the accompanying Consolidated and Combined Condensed Statements of Changes in Stockholders’ Equity as “Net transfers to Former Parent.” Former Parent’s investment, which included Retained earnings (Accumulated deficit) prior to the Separation, represents Fortive’s interest in our recorded net assets prior to the Separation. In addition, the accumulated net effect of intercompany transactions between us and Fortive or Fortive affiliates for periods prior to the Separation are included in Former Parent’s investment.
Recently Issued Accounting Standards	Recently Issued Accounting Standards In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting and in January 2021 issued ASU No. 2021-01, Reference Rate Reform (Topic 848): Scope. These ASUs provide temporary optional expedients and exceptions to existing guidance on contract modifications and hedge accounting to facilitate the market transition from existing reference rates, such as LIBOR which is being phased out beginning at the end of 2021, to alternate reference rates, such as the Secured Overnight Financing Rate (“SOFR”). These standards were effective upon issuance and allowed application to contract changes as early as January 1, 2020. These provisions may impact the Company as contract modifications and other changes occur during the LIBOR transition period. The Company continues to evaluate the optional relief guidance provided within these ASUs, has reviewed its debt securities and continues to evaluate commercial contracts that may utilize LIBOR as the reference rate. We will continue the assessment and monitor regulatory developments during the LIBOR transition period. Recently Adopted Accounting Standards In October 2021, the FASB issued ASU No. 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. This ASU provides a single comprehensive accounting model on revenue recognition for contracts with customers and requires that the acquirer in a business combination recognize and measure contract assets and liabilities acquired in a business combination in accordance with Topic 606 (Revenue from Contracts with Customers). The amendments in this ASU are effective for fiscal years beginning after December 15, 2022. Early adoption is permitted, including adoption in an interim period. With early adoption, the amendments are applied retrospectively to all business combinations for which the acquisition date occurs on of after the beginning of the fiscal year that includes the interim period of adoption and prospectively to all business combinations that occur on or after the date of initial application. The Company adopted the ASU for the current interim period and its adoption impacted the accounting and recognition of the contract liabilities associated with the Company’s acquisition of DRB Systems, LLC.
Sales	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 or 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 subject to contractual performance obligations and not only subject to the passage of time. Contract assets were $10.3 million and $9.0 million as of October 1, 2021 and December 31, 2020, respectively, and are included in Prepaid expenses and other current assets. Contract Costs We incur direct incremental costs to obtain certain contracts, typically sales-related commissions and costs associated with assets used by our customers in certain service arrangements. As of October 1, 2021 and December 31, 2020, we had $76.3 million and $81.2 million, respectively, in net revenue-related capitalized contract costs primarily related to assets used by our customers in certain software contracts, which are recorded in Prepaid expenses and other current assets, for the current portion, and Other assets, for the noncurrent portion, in the accompanying Consolidated Condensed Balance Sheets. These assets have estimated useful lives between 3 and 5 years and are amortized on a straight-line basis. Impairment losses recognized on our revenue-related contract assets were insignificant during the three and nine months ended October 1, 2021 and September 25, 2020. Contract Liabilities The Company’s contract liabilities consist of deferred revenue generally related to post contract support (“PCS”) and extended warranty sales. In these arrangements, the Company generally receives up-front payment and recognizes revenue over the support term of the contracts. Deferred revenue is classified as current or noncurrent based on the timing of when revenue is expected to be recognized and is included in Accrued expenses and other current liabilities and Other long-term liabilities, respectively, in the accompanying Consolidated Condensed Balance Sheets.

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Oct. 01, 2021
Business Combinations [Abstract]
Schedule of Business Acquisitions	The Company’s estimate of the purchase price allocation is as follows: ($ in millions) Preliminary Purchase Price Allocation Weighted Average Amortization Period Accounts receivable $ 17.3 Inventories 21.0 Prepaid and other current assets 3.8 Technology 142.1 9.0 Customer relationships 227.0 11.0 Trade names 36.0 14.0 Goodwill 587.4 Other assets 14.9 Trade accounts payable (5.8) Accrued expenses and other current liabilities (44.6) Other long-term liabilities (43.6) Purchase price, net of cash acquired $ 955.5
Pro Forma Information	The following unaudited pro forma presents consolidated information of Vontier as if the acquisition of DRB had occurred on January 1, 2020. Three Months Ended Nine Months Ended ($ in millions) October 1, 2021 September 25, 2020 October 1, 2021 September 25, 2020 Sales $ 804.9 $ 779.4 $ 2,318.5 $ 1,974.1 Net earnings 129.1 138.8 300.4 188.4

Financing Receivables (Tables)

Financing Receivables (Tables)	9 Months Ended
	Oct. 01, 2021
Credit Loss [Abstract]
Schedule of Accounts, Notes, Loans and Financing Receivable	The components of financing receivables with payments due in less than twelve months that are recorded in Accounts receivable less allowance for credit losses on the Consolidated Condensed Balance Sheets were as follows: ($ in millions) October 1, 2021 December 31, 2020 Gross current financing receivables: PSAs $ 98.0 $ 98.9 Franchisee Notes 15.1 15.5 Current financing receivables, gross $ 113.1 $ 114.4 Allowance for credit losses: PSAs $ 18.5 $ 15.8 Franchisee Notes 6.3 6.6 Total allowance for credit losses 24.8 22.4 Total current financing receivables, net $ 88.3 $ 92.0 Net current financing receivables: PSAs, net $ 79.5 $ 83.1 Franchisee Notes, net 8.8 8.9 Total current financing receivables, net $ 88.3 $ 92.0 The components of financing receivables with payments due beyond one year were as follows: ($ in millions) October 1, 2021 December 31, 2020 Gross long-term financing receivables: PSAs $ 221.6 $ 219.3 Franchisee Notes 63.4 58.6 Long-term financing receivables, gross $ 285.0 $ 277.9 Allowance for credit losses: PSAs $ 37.0 $ 38.5 Franchisee Notes 5.3 5.9 Total allowance for credit losses 42.3 44.4 Total long-term financing receivables, net $ 242.7 $ 233.5 Net long-term financing receivables: PSAs, net $ 184.6 $ 180.8 Franchisee Notes, net 58.1 52.7 Total long-term financing receivables, net $ 242.7 $ 233.5
Financing Receivable Credit Quality Indicators	The amortized cost basis of PSAs and Franchisee Notes by origination year as of October 1, 2021, is as follows: ($ in millions) 2021 2020 2019 2018 2017 Prior Total PSAs Credit Score: Less than 400 $ 15.3 $ 10.0 $ 5.8 $ 2.6 $ 0.9 $ 0.2 $ 34.8 400-599 19.8 15.6 8.4 4.2 1.3 0.5 49.8 600-799 41.9 29.8 16.2 7.9 2.5 0.9 99.2 800+ 61.7 40.4 20.7 9.8 2.6 0.6 135.8 Total PSAs $ 138.7 $ 95.8 $ 51.1 $ 24.5 $ 7.3 $ 2.2 $ 319.6 Franchisee Notes Active distributors $ 22.5 $ 17.8 $ 13.4 $ 6.8 $ 3.8 $ 3.9 $ 68.2 Separated distributors 0.2 1.0 1.7 1.7 1.7 4.0 10.3 Total Franchisee Notes $ 22.7 $ 18.8 $ 15.1 $ 8.5 $ 5.5 $ 7.9 $ 78.5
Financing Receivable, Past Due	PSAs are considered past due when a contractual payment has not been made. If a customer is making payments on its account, interest will continue to accrue. The table below sets forth the aging of the Company’s PSA balances as of: ($ in millions) 30-59 days past due 60-90 days past due Greater than 90 days past due Total past due Total not considered past due Total Greater than 90 days past due and accruing interest October 1, 2021 $ 3.1 $ 1.5 $ 6.2 $ 10.8 $ 308.8 $ 319.6 $ 6.2 December 31, 2020 3.5 1.8 7.2 12.5 305.7 318.2 7.2
Financing Receivable, Allowance for Credit Loss	The following is a rollforward of the PSAs and Franchisee Notes components of the Company’s allowance for credit losses related to financing receivables as of: October 1, 2021 December 31, 2020 ($ in millions) PSAs Franchisee Notes Total PSAs Franchisee Notes Total Allowance for credit losses, beginning of year $ 54.3 $ 12.5 $ 66.8 $ 29.4 $ 11.9 $ 41.3 Transition adjustment — — — 17.5 1.0 18.5 Provision for credit losses 20.4 2.9 23.3 29.3 5.9 35.2 Write-offs (21.1) (4.4) (25.5) (32.5) (6.5) (39.0) Recoveries of amounts previously charged off 1.9 0.6 2.5 2.7 0.2 2.9 Other adjustment — — — 7.9 — 7.9 Allowance for credit losses, end of period $ 55.5 $ 11.6 $ 67.1 $ 54.3 $ 12.5 $ 66.8
Accounts Receivable, Allowance for Credit Loss	The following is a rollforward of the allowance for credit losses related to the Company’s trade accounts receivables (excluding financing receivables) and the Company’s trade accounts receivable cost basis as of October 1, 2021: ($ in millions) Cost basis of trade accounts receivable as of October 1, 2021 $ 401.9 Allowance for credit losses balance as of December 31, 2020 $ 18.1 Provision for credit losses 4.3 Write-offs (6.4) Foreign currency and other 0.4 Allowance for credit losses balance as of October 1, 2021 16.4 Net trade accounts receivable balance as of October 1, 2021 $ 385.5 The following is a rollforward of the allowance for credit losses related to the Company’s trade accounts receivables (excluding financing receivables) and the Company’s trade accounts receivable cost basis as of December 31, 2020: ($ in millions) Cost basis of trade accounts receivable as of December 31, 2020 $ 373.2 Allowance for credit losses balance as of December 31, 2019 $ 15.0 Adoption of new accounting standard 3.6 Provision for credit losses 7.7 Write-offs (9.1) Foreign currency and other 0.9 Allowance for credit losses balance as of December 31, 2020 18.1 Net trade accounts receivable balance as of December 31, 2020 $ 355.1

Goodwill (Tables)

Goodwill (Tables)	9 Months Ended
	Oct. 01, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The following is a rollforward of our carrying value of goodwill: ($ in millions) Balance, December 31, 2020 $ 1,092.1 Addition to goodwill for current year acquisition 587.4 FX translation (14.7) Balance, October 1, 2021 $ 1,664.8

Financing (Tables)

Financing (Tables)	9 Months Ended
	Oct. 01, 2021
Debt Disclosure [Abstract]
Schedule of Debt	The Company had the following debt outstanding as of: ($ in millions) October 1, 2021 December 31, 2020 Short-term borrowings: India Credit Facility $ 2.1 $ 10.9 Other short-term borrowings and bank overdrafts 2.4 — Total short-term borrowings $ 4.5 $ 10.9 Long-term debt: Two-Year Term Loans $ — $ 1,000.0 Two-Year Term Loans due 2023 600.0 — Three-Year Term Loans due 2024 400.0 800.0 1.800% senior unsecured notes due 2026 500.0 — 2.400% senior unsecured notes due 2028 500.0 — 2.950% senior unsecured notes due 2031 600.0 — Total long-term debt 2,600.0 1,800.0 Less: discounts and debt issuance costs (16.9) (4.7) Total long-term debt, net $ 2,583.1 $ 1,795.3

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Tables)	9 Months Ended
	Oct. 01, 2021
Equity [Abstract]
Reclassification of Accumulated Other Comprehensive Income (Loss)	The changes in Accumulated other comprehensive income by component are summarized below: ($ in millions) Foreign Currency Translation Adjustments Other Adjustments (a) Total For the Three Months Ended October 1, 2021: Balance, July 2, 2021 $ 180.6 $ (4.4) $ 176.2 Other comprehensive income (loss) before reclassifications, net of income taxes (7.0) — (7.0) Amounts reclassified from accumulated other comprehensive income: Increase — 0.2 0.2 Amounts reclassified from accumulated other comprehensive income, net of income taxes — 0.2 (b) 0.2 Net current period other comprehensive income (loss), net of income taxes (7.0) 0.2 (6.8) Balance, October 1, 2021 $ 173.6 $ (4.2) $ 169.4 For the Three Months Ended September 25, 2020: Balance, June 26, 2020 $ 126.1 $ (3.2) $ 122.9 Other comprehensive income (loss) before reclassifications, net of income taxes 14.3 — 14.3 Amounts reclassified from accumulated other comprehensive income: Increase — 0.1 0.1 Amounts reclassified from accumulated other comprehensive income, net of income taxes — 0.1 (b) 0.1 Net current period other comprehensive income (loss), net of income taxes 14.3 0.1 14.4 Balance, September 25, 2020 $ 140.4 $ (3.1) $ 137.3 (a) Includes balances relating to defined benefit plans and supplemental executive retirement plans. (b) This accumulated other comprehensive income component is included in the computation of net periodic pension cost. ($ in millions) Foreign Currency Translation Adjustments Other Adjustments (a) Total For the Nine Months Ended October 1, 2021: Balance, December 31, 2020 $ 198.3 $ (4.5) $ 193.8 Other comprehensive income (loss) before reclassifications, net of income taxes (24.7) — (24.7) Amounts reclassified from accumulated other comprehensive income: Increase — 0.4 0.4 Income tax impact — (0.1) (0.1) Amounts reclassified from accumulated other comprehensive income, net of income taxes — 0.3 (b) 0.3 Net current period other comprehensive income (loss), net of income taxes (24.7) 0.3 (24.4) Balance, October 1, 2021 $ 173.6 $ (4.2) $ 169.4 For the Nine Months Ended September 25, 2020: Balance, December 31, 2019 $ 153.7 $ (5.0) $ 148.7 Other comprehensive income (loss) before reclassifications, net of income taxes (13.3) — (13.3) Amounts reclassified from accumulated other comprehensive income: Increase — 2.0 2.0 Income tax impact — (0.1) (0.1) Amounts reclassified from accumulated other comprehensive income, net of income taxes — 1.9 (b) 1.9 Net current period other comprehensive income (loss), net of income taxes (13.3) 1.9 (11.4) Balance, September 25, 2020 $ 140.4 $ (3.1) $ 137.3 (a) Includes balances relating to defined benefit plans and supplemental executive retirement plans. (b) This accumulated other comprehensive income component is included in the computation of net periodic pension cost.

Sales (Tables)

Sales (Tables)	9 Months Ended
	Oct. 01, 2021
Revenue from Contract with Customer [Abstract]
Contract liabilities	The Company’s contract liabilities consisted of the following: ($ in millions) October 1, 2021 December 31, 2020 Deferred revenue - current $ 120.8 $ 87.6 Deferred revenue - noncurrent 59.4 58.3 Total contract liabilities $ 180.2 $ 145.9
Disaggregation of revenue	Disaggregation of revenue was as follows: Three Months Ended Nine Months Ended ($ in millions) October 1, 2021 September 25, 2020 October 1, 2021 September 25, 2020 Sales: Sales of products $ 699.7 $ 686.0 $ 2,005.1 $ 1,713.9 Sales of services 68.8 60.7 195.4 175.7 Total $ 768.5 $ 746.7 $ 2,200.5 $ 1,889.6 Geographic: North America (a) $ 547.0 $ 539.9 $ 1,568.2 $ 1,348.3 Western Europe 68.7 63.7 191.3 176.6 High growth markets 115.8 111.7 337.1 279.5 Rest of world 37.0 31.4 103.9 85.2 Total $ 768.5 $ 746.7 $ 2,200.5 $ 1,889.6 Solution: Retail fueling hardware $ 243.6 $ 225.5 $ 648.9 $ 562.4 Auto repair 156.1 145.5 485.2 382.9 Service and other recurring revenue 118.0 116.2 361.4 315.0 Environmental 73.3 61.7 198.4 162.6 Retail solutions 96.4 122.3 285.1 256.8 Software-as-a-service 45.7 45.1 139.2 134.5 Smart cities 9.6 8.9 26.7 23.4 E-mobility 4.7 5.7 8.1 12.2 Other 21.1 15.8 47.5 39.8 Total $ 768.5 $ 746.7 $ 2,200.5 $ 1,889.6 Major Product Group: Mobility technologies $ 588.6 $ 578.6 $ 1,641.6 $ 1,441.6 Diagnostics and repair technologies 179.9 168.1 558.9 448.0 Total $ 768.5 $ 746.7 $ 2,200.5 $ 1,889.6 (a) Includes sales in the United States of $526.7 million and $525.5 million for the three months ended October 1, 2021 and September 25, 2020, respectively, and sales in the United States of $1,513.3 million and $1,309.2 million for the nine months ended October 1, 2021 and September 25, 2020, respectively.

Litigation and Contingencies (T

Litigation and Contingencies (Tables)	9 Months Ended
	Oct. 01, 2021
Commitments and Contingencies Disclosure [Abstract]
Schedule of Accrued Warranty Liability	The following is a rollforward of the Company’s accrued warranty liability: ($ in millions) Balance, December 31, 2020 $ 54.6 Accruals for warranties issued during the period 24.3 Settlements made (26.5) Additions due to acquisition 0.5 Effect of foreign currency translation (0.1) Balance, October 1, 2021 $ 52.8

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Oct. 01, 2021
Fair Value Disclosures [Abstract]
Fair Value, Liabilities Measured on Recurring Basis	Below is a summary of financial liabilities that are measured at fair value on a recurring basis as of: ($ in millions) Quoted Prices Significant Other Significant Total October 1, 2021 Deferred compensation liabilities $ — $ 4.5 $ — $ 4.5 December 31, 2020 Deferred compensation liabilities $ — $ 3.7 $ — $ 3.7

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
	Oct. 01, 2021
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	The amounts of related party expenses allocated to the Company from Fortive and its subsidiaries for the three and nine months ended September 25, 2020, were as follows: Three Months Ended Nine Months Ended ($ in millions) September 25, 2020 September 25, 2020 Allocated corporate expenses $ 9.5 $ 28.0 Directly attributable expenses: Insurance programs expenses 0.9 2.2 Medical insurance programs expenses 9.1 31.4 Deferred compensation program expenses 0.3 0.9 Total related-party expenses $ 19.8 $ 62.5

Capitalization and Earnings P_2

Capitalization and Earnings Per Share (Tables)	9 Months Ended
	Oct. 01, 2021
Equity [Abstract]
Schedule of Earnings Per Share	Information related to the calculation of net earnings per share of common stock is summarized as follows: Three Months Ended Nine Months Ended ($ and shares in millions, except per share amounts) October 1, 2021 September 25, 2020 October 1, 2021 September 25, 2020 Numerator: Net earnings $ 127.3 $ 141.0 $ 300.6 $ 205.2 Denominator: Basic weighted average common shares outstanding 169.1 168.4 168.9 168.4 Effect of dilutive stock options and RSUs 1.2 — 1.1 — Diluted weighted average common shares outstanding 170.3 168.4 170.0 168.4 Earnings per share: Basic $ 0.75 $ 0.84 $ 1.78 $ 1.22 Diluted $ 0.75 $ 0.84 $ 1.77 $ 1.22 Anti-dilutive shares 1.6 — 2.5 —

Business Overview and Basis o_3

Business Overview and Basis of Presentation (Details) shares in Millions	Oct. 09, 2020	Jan. 31, 2021shares	Oct. 01, 2021segment
Class of Stock [Line Items]
Number of reportable segments			1
Number of operating segments			2
Fortive | Secondary Offering
Class of Stock [Line Items]
Number of shares sold (in shares) | shares		33.5
Disposal Group, Disposed of by Means Other than Sale, Not Discontinued Operations, Spinoff | Vontier | Fortive
Class of Stock [Line Items]
Spinoff transaction, percentage of outstanding common stock distributed (as a percent)	80.10%

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) - DRB - USD ($) $ in Millions	Sep. 13, 2021	Sep. 30, 2021
Business Acquisition [Line Items]
Cash consideration paid	$ 955.5
Transaction-related costs	$ 3.1
Revenue since date of acquisition		$ 10.9
Loss since date of acquisition		$ 0.5

Acquisitions - Estimate of Purc

Acquisitions - Estimate of Purchase Price Allocation (Details) - USD ($) $ in Millions	Sep. 13, 2021	Oct. 01, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Goodwill		$ 1,664.8	$ 1,092.1
DRB
Business Acquisition [Line Items]
Accounts receivable	$ 17.3
Inventories	21
Prepaid and other current assets	3.8
Goodwill	587.4
Other assets	14.9
Trade accounts payable	(5.8)
Accrued expenses and other current liabilities	(44.6)
Other long-term liabilities	(43.6)
Net cash consideration	955.5
DRB | Technology
Business Acquisition [Line Items]
Intangible assets	$ 142.1
Weighted average life	9 years
DRB | Customer relationships
Business Acquisition [Line Items]
Intangible assets	$ 227
Weighted average life	11 years
DRB | Trade names
Business Acquisition [Line Items]
Intangible assets	$ 36
Weighted average life	14 years

Acquisitions - Pro Forma Inform

Acquisitions - Pro Forma Information (Details) - DRB - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2021	Sep. 25, 2020	Oct. 01, 2021	Sep. 25, 2020
Business Acquisition [Line Items]
Sales	$ 804.9	$ 779.4	$ 2,318.5	$ 1,974.1
Net earnings	$ 129.1	$ 138.8	$ 300.4	$ 188.4

Financing Receivables - Narrati

Financing Receivables - Narrative (Details) - USD ($) $ in Millions	Oct. 01, 2021	Dec. 31, 2020	Dec. 31, 2019
Financing Receivable, Allowance for Credit Loss [Line Items]
Net unamortized discount on financing receivable	$ 17.2	$ 18.4
Financing receivable, allowance for credit loss	67.1	66.8	$ 41.3
Financing receivable, allowance for credit loss, current	24.8	22.4
Financing receivable, allowance for credit losses	$ 42.3	44.4
PSAs
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, period for uncollectible status	180 days
Financing receivable, allowance for credit loss	$ 55.5	54.3	29.4
Financing receivable, allowance for credit loss, current	18.5	15.8
Financing receivable, allowance for credit losses	$ 37	38.5
PSAs | Maximum
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, payment terms	5 years
Franchisee Notes
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, period for uncollectible status	1 year
Financing receivable, allowance for credit loss	$ 11.6	12.5	$ 11.9
Financing receivable, allowance for credit loss, current	6.3	6.6
Financing receivable, allowance for credit losses	$ 5.3	$ 5.9
Franchisee Notes | Maximum
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, payment terms	10 years

Financing Receivables - Schedul

Financing Receivables - Schedule of Financing Receivables (Details) - USD ($) $ in Millions	Oct. 01, 2021	Dec. 31, 2020
Financing Receivable, after Allowance for Credit Loss, Current [Abstract]
Current financing receivables, gross	$ 113.1	$ 114.4
Total allowance for credit losses	24.8	22.4
Total current financing receivables, net	88.3	92
Financing Receivable, after Allowance for Credit Loss, Noncurrent [Abstract]
Long-term financing receivables, gross	285	277.9
Total allowance for credit losses	42.3	44.4
Total long-term financing receivables, net	242.7	233.5
PSAs
Financing Receivable, after Allowance for Credit Loss, Current [Abstract]
Current financing receivables, gross	98	98.9
Total allowance for credit losses	18.5	15.8
Total current financing receivables, net	79.5	83.1
Financing Receivable, after Allowance for Credit Loss, Noncurrent [Abstract]
Long-term financing receivables, gross	221.6	219.3
Total allowance for credit losses	37	38.5
Total long-term financing receivables, net	184.6	180.8
Franchisee Notes
Financing Receivable, after Allowance for Credit Loss, Current [Abstract]
Current financing receivables, gross	15.1	15.5
Total allowance for credit losses	6.3	6.6
Total current financing receivables, net	8.8	8.9
Financing Receivable, after Allowance for Credit Loss, Noncurrent [Abstract]
Long-term financing receivables, gross	63.4	58.6
Total allowance for credit losses	5.3	5.9
Total long-term financing receivables, net	$ 58.1	$ 52.7

Financing Receivables - Sched_2

Financing Receivables - Schedule of Amortized Cost by Origination Year (Details) - USD ($) $ in Millions	Oct. 01, 2021	Dec. 31, 2020
PSAs
Financing Receivable, Credit Quality Indicator [Line Items]
2021	$ 138.7
2020	95.8
2019	51.1
2018	24.5
2017	7.3
Prior	2.2
Total	319.6	$ 318.2
PSAs | Less than 400
Financing Receivable, Credit Quality Indicator [Line Items]
2021	15.3
2020	10
2019	5.8
2018	2.6
2017	0.9
Prior	0.2
Total	34.8
PSAs | 400-599
Financing Receivable, Credit Quality Indicator [Line Items]
2021	19.8
2020	15.6
2019	8.4
2018	4.2
2017	1.3
Prior	0.5
Total	49.8
PSAs | 600-799
Financing Receivable, Credit Quality Indicator [Line Items]
2021	41.9
2020	29.8
2019	16.2
2018	7.9
2017	2.5
Prior	0.9
Total	99.2
PSAs | 800+
Financing Receivable, Credit Quality Indicator [Line Items]
2021	61.7
2020	40.4
2019	20.7
2018	9.8
2017	2.6
Prior	0.6
Total	135.8
Franchisee Notes
Financing Receivable, Credit Quality Indicator [Line Items]
2021	22.7
2020	18.8
2019	15.1
2018	8.5
2017	5.5
Prior	7.9
Total	78.5
Franchisee Notes | Active distributors
Financing Receivable, Credit Quality Indicator [Line Items]
2021	22.5
2020	17.8
2019	13.4
2018	6.8
2017	3.8
Prior	3.9
Total	68.2
Franchisee Notes | Separated distributors
Financing Receivable, Credit Quality Indicator [Line Items]
2021	0.2
2020	1
2019	1.7
2018	1.7
2017	1.7
Prior	4
Total	$ 10.3

Financing Receivables - Sched_3

Financing Receivables - Schedule of Financing Receivable Past Due (Details) - PSAs - USD ($) $ in Millions	Oct. 01, 2021	Dec. 31, 2020
Financing Receivable, Past Due [Line Items]
Total	$ 319.6	$ 318.2
Greater than 90 days past due and accruing interest	6.2	7.2
30-59 days past due
Financing Receivable, Past Due [Line Items]
Total	3.1	3.5
60-90 days past due
Financing Receivable, Past Due [Line Items]
Total	1.5	1.8
Greater than 90 days past due
Financing Receivable, Past Due [Line Items]
Total	6.2	7.2
Financing Receivable, Past Due
Financing Receivable, Past Due [Line Items]
Total	10.8	12.5
Financing Receivable, Not Past Due
Financing Receivable, Past Due [Line Items]
Total	$ 308.8	$ 305.7

Financing Receivables - Sched_4

Financing Receivables - Schedule Of Allowance For Credit Losses (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Oct. 01, 2021	Dec. 31, 2020
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses, beginning of year	$ 66.8	$ 41.3
Provision for credit losses	23.3	35.2
Write-offs	(25.5)	(39)
Recoveries of amounts previously charged off	2.5	2.9
Other adjustment	0	7.9
Allowance for credit losses, end of period	67.1	66.8
Transition adjustment
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses, beginning of year		18.5
PSAs
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses, beginning of year	54.3	29.4
Provision for credit losses	20.4	29.3
Write-offs	(21.1)	(32.5)
Recoveries of amounts previously charged off	1.9	2.7
Other adjustment	0	7.9
Allowance for credit losses, end of period	55.5	54.3
PSAs | Transition adjustment
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses, beginning of year		17.5
Franchisee Notes
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses, beginning of year	12.5	11.9
Provision for credit losses	2.9	5.9
Write-offs	(4.4)	(6.5)
Recoveries of amounts previously charged off	0.6	0.2
Other adjustment	0	0
Allowance for credit losses, end of period	$ 11.6	12.5
Franchisee Notes | Transition adjustment
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses, beginning of year		$ 1

Financing Receivable - Allowanc

Financing Receivable - Allowance For Credit Losses Related To Trade Accounts Receivable (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Oct. 01, 2021	Dec. 31, 2020
Financing Receivable, Allowance for Credit Loss [Line Items]
Cost basis of trade accounts receivable	$ 401.9	$ 373.2
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	18.1	15
Provision for credit losses	4.3	7.7
Write-offs	(6.4)	(9.1)
Foreign currency and other	0.4	0.9
Ending balance	16.4	18.1
Net trade accounts receivable	$ 385.5	355.1
Transition adjustment
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance		$ 3.6

Goodwill - Rollforward of Goodw

Goodwill - Rollforward of Goodwill (Details) $ in Millions	9 Months Ended
	Oct. 01, 2021USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 1,092.1
Addition to goodwill for current year acquisition	587.4
FX translation	(14.7)
Ending balance	$ 1,664.8

Goodwill - Narrative (Details)

Goodwill - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Oct. 01, 2021	Sep. 25, 2020	Oct. 01, 2021	Sep. 25, 2020	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Accumulated impairment charges	$ 85,300,000		$ 85,300,000		$ 85,300,000
Impairment of goodwill	$ 0	$ 0	$ 0	$ 85,300,000

Financing - Components of Debt

Financing - Components of Debt (Details) - USD ($) $ in Millions	Oct. 01, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Total short-term borrowings	$ 4.5	$ 10.9
Total long-term debt	2,600	1,800
Less: discounts and debt issuance costs	(16.9)	(4.7)
Total long-term debt, net	2,583.1	1,795.3
India Credit Facility
Debt Instrument [Line Items]
Total short-term borrowings	2.1	10.9
Other short-term borrowings and bank overdrafts
Debt Instrument [Line Items]
Total short-term borrowings	2.4	0
Two-Year Term Loans
Debt Instrument [Line Items]
Total long-term debt	0	1,000
Two-Year Term Loans due 2023
Debt Instrument [Line Items]
Total long-term debt	600	0
Three-Year Term Loans due 2024
Debt Instrument [Line Items]
Total long-term debt	400	800
1.800% Senior Unsecured Notes Due 2026
Debt Instrument [Line Items]
Total long-term debt	$ 500	0
Stated interest rate (as a percent)	1.80%
2.400% Senior Unsecured Notes Due 2028
Debt Instrument [Line Items]
Total long-term debt	$ 500	0
Stated interest rate (as a percent)	2.40%
2.950% Senior Unsecured Notes Due 2031
Debt Instrument [Line Items]
Total long-term debt	$ 600	$ 0
Stated interest rate (as a percent)	2.95%

Financing - Narrative (Details)

Financing - Narrative (Details)	Oct. 01, 2021USD ($)	Sep. 13, 2021USD ($)	Aug. 05, 2021USD ($)	Apr. 28, 2021USD ($)	Mar. 10, 2021USD ($)	Sep. 29, 2020USD ($)	Oct. 01, 2021USD ($)	Sep. 25, 2020USD ($)	Oct. 01, 2021USD ($)	Sep. 25, 2020USD ($)	Oct. 01, 2021INR (₨)	Dec. 31, 2020USD ($)
Debt Instrument [Line Items]
Payment for debt issuance costs				$ 200,000					$ 5,100,000	$ 0
Debt issuance costs expensed					$ 3,200,000		$ 0	$ 0	3,400,000	0
Total long-term debt	$ 2,600,000,000						2,600,000,000		2,600,000,000			$ 1,800,000,000
Debt issuance costs				1,400,000
Debt issuance costs capitalized				$ 1,200,000
Repayment of long-term debt									1,400,000,000	$ 0
London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Decrease in basis spread on variable rate (as a percent)				0.25%
Fortive
Debt Instrument [Line Items]
Payment for debt issuance costs						$ 7,700,000
Senior Notes
Debt Instrument [Line Items]
Debt issuance costs					13,900,000
Proceeds from issuance of senior notes					1,600,000,000
Unamortized discount					$ 3,500,000
Repurchase amount of principal and unpaid interest (as a percent)					101.00%
Senior Notes | Significant Other Observable Inputs (Level 2)
Debt Instrument [Line Items]
Estimated fair value of notes	1,600,000,000						1,600,000,000		1,600,000,000
Three-Year Term Loans due 2024
Debt Instrument [Line Items]
Debt issuance costs expensed				$ 200,000
Total long-term debt	$ 400,000,000						$ 400,000,000		$ 400,000,000			800,000,000
Three-Year Term Loans due 2024 | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Decrease in basis spread on variable rate (as a percent)				0.50%
Basis spread on variable rate (as a percent)				1.125%					1.625%
Three-Year Term Loans due 2024 | Line of Credit
Debt Instrument [Line Items]
Total long-term debt				$ 400,000,000
Repayment of long-term debt					$ 400,000,000
Stated interest rate (as a percent)	1.20%						1.20%		1.20%		1.20%
Three-Year Term Loans due 2024 | Line of Credit | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)									1.125%
Three-Year Term Loans due 2024 | Line of Credit
Debt Instrument [Line Items]
Debt term						3 years
Line of credit facility, maximum borrowing capacity						$ 800,000,000
Two-Year Term Loans
Debt Instrument [Line Items]
Total long-term debt	$ 0						$ 0		$ 0			1,000,000,000
Two-Year Term Loans | Line of Credit
Debt Instrument [Line Items]
Debt term						2 years
Line of credit facility, maximum borrowing capacity						$ 1,000,000,000
Revolving credit facility | Revolving Credit Facility | Minimum
Debt Instrument [Line Items]
Commitment fee (as a percent)									0.125%
Revolving credit facility | Revolving Credit Facility | Maximum
Debt Instrument [Line Items]
Commitment fee (as a percent)									0.325%
Revolving credit facility | Revolving Credit Facility | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)									1.175%
Revolving credit facility | Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Debt term						3 years
Line of credit facility, maximum borrowing capacity						$ 750,000,000
Total long-term debt	$ 0						$ 0		$ 0
Revolving credit facility | Line of Credit | Revolving Credit Facility | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)				1.175%					1.425%
Revolving credit facility | Line of Credit | Swingline Loans
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity						25,000,000
Revolving credit facility | Line of Credit | Letter of Credit
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity						$ 75,000,000
Two Year Term Loans Due 2023
Debt Instrument [Line Items]
Debt term			2 years
Stated interest rate (as a percent)	0.83%						0.83%		0.83%		0.83%
Draws under term loan		$ 600,000,000
Aggregate principal amount of debt issued			$ 600,000,000
Two Year Term Loans Due 2023 | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	0.75%
1.800% Senior Unsecured Notes Due 2026
Debt Instrument [Line Items]
Total long-term debt	$ 500,000,000						$ 500,000,000		$ 500,000,000			0
Stated interest rate (as a percent)	1.80%						1.80%		1.80%		1.80%
1.800% Senior Unsecured Notes Due 2026 | Senior Notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)					1.80%
Aggregate principal amount of debt issued					$ 500,000,000
Percent of principal issued					99.855%
1.800% Senior Unsecured Notes Due 2026 | Senior Notes | Treasury Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)									0.20%
2.400% Senior Unsecured Notes Due 2028
Debt Instrument [Line Items]
Total long-term debt	$ 500,000,000						$ 500,000,000		$ 500,000,000			0
Stated interest rate (as a percent)	2.40%						2.40%		2.40%		2.40%
2.400% Senior Unsecured Notes Due 2028 | Senior Notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)					2.40%
Aggregate principal amount of debt issued					$ 500,000,000
Percent of principal issued					99.703%
2.400% Senior Unsecured Notes Due 2028 | Senior Notes | Treasury Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)									0.20%
2.950% Senior Unsecured Notes Due 2031
Debt Instrument [Line Items]
Total long-term debt	$ 600,000,000						$ 600,000,000		$ 600,000,000			$ 0
Stated interest rate (as a percent)	2.95%						2.95%		2.95%		2.95%
2.950% Senior Unsecured Notes Due 2031 | Senior Notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)					2.95%
Aggregate principal amount of debt issued					$ 600,000,000
Percent of principal issued					99.791%
2.950% Senior Unsecured Notes Due 2031 | Senior Notes | Treasury Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)									0.25%
India Credit Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 11,500,000						$ 11,500,000		$ 11,500,000		₨ 850,000,000
Remaining borrowing capacity	$ 9,400,000						$ 9,400,000		$ 9,400,000
Effective interest rate (as a percent)	5.00%						5.00%		5.00%		5.00%

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended						9 Months Ended
	Oct. 01, 2021	Jul. 02, 2021	Apr. 02, 2021	Sep. 25, 2020	Jun. 26, 2020	Mar. 27, 2020	Oct. 01, 2021	Sep. 25, 2020
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 349.3	$ 268	$ 191.7	$ 1,662.6	$ 1,738.9	$ 1,816.1	$ 191.7	$ 1,816.1
Amounts reclassified from accumulated other comprehensive income (loss):
Total other comprehensive income (loss), net of income taxes	(6.8)	(2)	(15.6)	14.4	18.7	(44.5)	(24.4)	(11.4)
Ending balance	474.6	349.3	268	1,587.4	1,662.6	1,738.9	474.6	1,587.4
Total
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	176.2	178.2	193.8	122.9	104.2	148.7	193.8	148.7
Other comprehensive income (loss) before reclassifications, net of income taxes	(7)			14.3			(24.7)	(13.3)
Amounts reclassified from accumulated other comprehensive income (loss):
Increase	0.2			0.1			0.4	2
Income tax impact							(0.1)	(0.1)
Amounts reclassified from accumulated other comprehensive income, net of income taxes	0.2			0.1			0.3	1.9
Total other comprehensive income (loss), net of income taxes	(6.8)	(2)	(15.6)	14.4	18.7	(44.5)	(24.4)	(11.4)
Ending balance	169.4	176.2	178.2	137.3	122.9	104.2	169.4	137.3
Foreign currency translation adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	180.6		198.3	126.1		153.7	198.3	153.7
Other comprehensive income (loss) before reclassifications, net of income taxes	(7)			14.3			(24.7)	(13.3)
Amounts reclassified from accumulated other comprehensive income (loss):
Increase	0			0			0	0
Income tax impact							0	0
Amounts reclassified from accumulated other comprehensive income, net of income taxes	0			0			0	0
Total other comprehensive income (loss), net of income taxes	(7)			14.3			(24.7)	(13.3)
Ending balance	173.6	180.6		140.4	126.1		173.6	140.4
Other adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(4.4)		$ (4.5)	(3.2)		$ (5)	(4.5)	(5)
Other comprehensive income (loss) before reclassifications, net of income taxes	0			0			0	0
Amounts reclassified from accumulated other comprehensive income (loss):
Increase	0.2			0.1			0.4	2
Income tax impact							(0.1)	(0.1)
Amounts reclassified from accumulated other comprehensive income, net of income taxes	0.2			0.1			0.3	1.9
Total other comprehensive income (loss), net of income taxes	0.2			0.1			0.3	1.9
Ending balance	$ (4.2)	$ (4.4)		$ (3.1)	$ (3.2)		$ (4.2)	$ (3.1)

Sales - Contract Assets and Cos

Sales - Contract Assets and Costs (Details) - USD ($) $ in Millions	Oct. 01, 2021	Dec. 31, 2020
Capitalized Contract Cost [Line Items]
Contract assets	$ 10.3	$ 9
Deferred Sales Commissions
Capitalized Contract Cost [Line Items]
Net revenue-related contract assets	$ 76.3	$ 81.2
Deferred Sales Commissions | Minimum
Capitalized Contract Cost [Line Items]
Useful life	3 years
Deferred Sales Commissions | Maximum
Capitalized Contract Cost [Line Items]
Useful life	5 years

Sales - Contract liabilities (D

Sales - Contract liabilities (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Oct. 01, 2021	Oct. 01, 2021	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Deferred revenue - current	$ 120.8	$ 120.8	$ 87.6
Deferred revenue - noncurrent	59.4	59.4	58.3
Total contract liabilities	180.2	180.2	$ 145.9
Contract liabilities, revenue recognized	$ 11.9	$ 51.1

Sales - Revenue, Remaining Perf

Sales - Revenue, Remaining Performance Obligation (Details) $ in Millions	Oct. 01, 2021USD ($)
Revenue from Contract with Customer [Abstract]
Remaining performance obligations	$ 385.1

Sales - Remaining Performance O

Sales - Remaining Performance Obligation, Expected Timing (Details) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-10-02	Oct. 01, 2021
Next two years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percentage	35.00%
Remaining performance obligation, expected timing	2 years
Next three years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percentage	65.00%
Remaining performance obligation, expected timing	3 years
Within four years
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) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2021	Sep. 25, 2020	Oct. 01, 2021	Sep. 25, 2020
Disaggregation of Revenue [Line Items]
Sales	$ 768.5	$ 746.7	$ 2,200.5	$ 1,889.6
Products
Disaggregation of Revenue [Line Items]
Sales	699.7	686	2,005.1	1,713.9
Mobility technologies
Disaggregation of Revenue [Line Items]
Sales	588.6	578.6	1,641.6	1,441.6
Diagnostics and repair technologies
Disaggregation of Revenue [Line Items]
Sales	179.9	168.1	558.9	448
Services
Disaggregation of Revenue [Line Items]
Sales	68.8	60.7	195.4	175.7
Retail fueling hardware
Disaggregation of Revenue [Line Items]
Sales	243.6	225.5	648.9	562.4
Auto repair
Disaggregation of Revenue [Line Items]
Sales	156.1	145.5	485.2	382.9
Service and other recurring revenue
Disaggregation of Revenue [Line Items]
Sales	118	116.2	361.4	315
Environmental
Disaggregation of Revenue [Line Items]
Sales	73.3	61.7	198.4	162.6
Retail solutions
Disaggregation of Revenue [Line Items]
Sales	96.4	122.3	285.1	256.8
Software-as-a-service
Disaggregation of Revenue [Line Items]
Sales	45.7	45.1	139.2	134.5
Smart cities
Disaggregation of Revenue [Line Items]
Sales	9.6	8.9	26.7	23.4
E-mobility
Disaggregation of Revenue [Line Items]
Sales	4.7	5.7	8.1	12.2
Other
Disaggregation of Revenue [Line Items]
Sales	21.1	15.8	47.5	39.8
North America
Disaggregation of Revenue [Line Items]
Sales	547	539.9	1,568.2	1,348.3
Western Europe
Disaggregation of Revenue [Line Items]
Sales	68.7	63.7	191.3	176.6
High growth markets
Disaggregation of Revenue [Line Items]
Sales	115.8	111.7	337.1	279.5
Rest of world
Disaggregation of Revenue [Line Items]
Sales	37	31.4	103.9	85.2
United States
Disaggregation of Revenue [Line Items]
Sales	$ 526.7	$ 525.5	$ 1,513.3	$ 1,309.2

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		9 Months Ended
	Oct. 01, 2021	Sep. 25, 2020	Oct. 01, 2021	Sep. 25, 2020
Income Tax Disclosure [Abstract]
Effective tax rate (as a percent)	19.60%	20.90%	22.20%	29.00%

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2021	Sep. 25, 2020	Oct. 01, 2021	Sep. 25, 2020
Leases [Abstract]
Operating lease cost	$ 5.3	$ 5.3	$ 15.8	$ 15.6
Cash paid for operating leases			14.1	14.7
ROU assets obtained in exchange for operating lease obligations			$ 15.7	$ 11.5

Litigation and Contingencies -

Litigation and Contingencies - Rollforward of Accrued Warranty Liability (Details) $ in Millions	9 Months Ended
	Oct. 01, 2021USD ($)
Movement in Standard Product Warranty Accrual [Roll Forward]
Beginning balance	$ 54.6
Accruals for warranties issued during the period	24.3
Settlements made	(26.5)
Additions due to acquisitions	0.5
Effect of foreign currency translation	(0.1)
Ending balance	$ 52.8

Litigation and Contingencies _2

Litigation and Contingencies - Narrative (Details) - USD ($) $ in Millions	Oct. 01, 2021	Dec. 31, 2020
Standby letters of credit, bank guarantees, and performance and bid bonds
Loss Contingencies [Line Items]
Guarantees	$ 91.6	$ 84.5
Asbestos Claims
Loss Contingencies [Line Items]
Liabilities associated with future expected cases	68.1	68
Projected insurance recoveries	33.2	36
Accrued expenses and other current liabilities | Asbestos Claims
Loss Contingencies [Line Items]
Liabilities associated with future expected cases	15.8	17.5
Other long-term liabilities | Asbestos Claims
Loss Contingencies [Line Items]
Liabilities associated with future expected cases	52.3	50.5
Prepaid expenses and other current assets | Asbestos Claims
Loss Contingencies [Line Items]
Projected insurance recoveries	8	10.8
Other assets | Asbestos Claims
Loss Contingencies [Line Items]
Projected insurance recoveries	$ 25.2	$ 25.2

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Millions	9 Months Ended
	Oct. 01, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity investment without readily determinable fair value	$ 52.1
Additional investment made during period	6.8
Reduction of investment from settlement	3.8
Goodwill	1,664.8	$ 1,092.1
Other intangible assets, net	631.5	250.5
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation liabilities	4.5	3.7
Fair Value, Measurements, Recurring | 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
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation liabilities	4.5	3.7
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation liabilities	$ 0	$ 0

Related Party Transactions - Sc

Related Party Transactions - Schedule of Related Party Expenses (Details) - Fortive - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 25, 2020	Sep. 25, 2020
Related Party Transaction [Line Items]
Total related-party expenses	$ 19.8	$ 62.5
Allocated corporate expenses
Related Party Transaction [Line Items]
Total related-party expenses	9.5	28
Insurance programs expenses
Related Party Transaction [Line Items]
Total related-party expenses	0.9	2.2
Medical insurance programs expenses
Related Party Transaction [Line Items]
Total related-party expenses	9.1	31.4
Deferred compensation program expenses
Related Party Transaction [Line Items]
Total related-party expenses	$ 0.3	$ 0.9

Related Party Transactions - Na

Related Party Transactions - Narrative (Details) - Fortive - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 25, 2020	Oct. 01, 2021	Sep. 25, 2020
Related Party Transaction [Line Items]
Purchases from related party	$ 4		$ 11.9
TSA Expenses
Related Party Transaction [Line Items]
Payments of expenses to related party		$ 48.5
TSA Expenses, Separation Transaction Taxes
Related Party Transaction [Line Items]
Payments of expenses to related party		$ 30

Capitalization and Earnings P_3

Capitalization and Earnings Per Share - Narrative (Details) - USD ($)	Oct. 01, 2021	May 19, 2021	Dec. 31, 2020
Equity [Abstract]
Common stock, authorized (in shares)	1,985,000,000		1,985,000,000
Common stock, par value (in dollars per share)	$ 0.0001		$ 0.0001
Preferred stock, authorized (in shares)	15,000,000		15,000,000
Preferred stock, par value (in dollars per share)	$ 0		$ 0
Authorized repurchase amount		$ 500,000,000
Remaining authorized repurchase amount	$ 500,000,000

Capital Stock and Earnings Per

Capital Stock and Earnings Per Share - Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended						9 Months Ended
	Oct. 01, 2021	Jul. 02, 2021	Apr. 02, 2021	Sep. 25, 2020	Jun. 26, 2020	Mar. 27, 2020	Oct. 01, 2021	Sep. 25, 2020
Numerator:
Net earnings	$ 127.3	$ 82.3	$ 91	$ 141	$ 68.4	$ (4.2)	$ 300.6	$ 205.2
Denominator:
Basic weighted average common shares outstanding (in shares)	169.1			168.4			168.9	168.4
Effect of dilutive stock options and RSUs (in shares)	1.2			0			1.1	0
Diluted weighted average common shares outstanding (in shares)	170.3			168.4			170	168.4
Earnings per share:
Net earnings (loss) per common share - Basic (in dollars per share)	$ 0.75			$ 0.84			$ 1.78	$ 1.22
Net earnings (loss) per share - Diluted (in dollars per share)	$ 0.75			$ 0.84			$ 1.77	$ 1.22
Anti-dilutive shares (in shares)	1.6			0			2.5	0