Vontier (VNT) 10-Q 4 Nov 22 2022 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2022	Oct. 28, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
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	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		157,993,435
Amendment Flag	false
Document Fiscal Year Focus	2022
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	Sep. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 121.7	$ 572.6
Accounts receivable, less allowance for credit losses of $34.3 million and $38.9 million as of September 30, 2022 and December 31, 2021, respectively	511.2	481.3
Inventories:
Finished goods	146.3	104.7
Work in process	43.6	34.4
Raw materials	187.6	147.9
Total inventories	377.5	287
Prepaid expenses and other current assets	123.8	137.3
Equity securities measured at fair value	67.1	0
Current assets held for sale	138.7	0
Total current assets	1,340	1,478.2
Property, plant and equipment, net of accumulated depreciation of $236.8 million and $256.3 million as of September 30, 2022 and December 31, 2021, respectively	92.6	100.6
Operating lease right-of-use assets	42.1	45.4
Long-term financing receivables, less allowance for credit losses of $37.3 million and $42.5 million as of September 30, 2022 and December 31, 2021, respectively	249.2	241.7
Other intangible assets, net	670.8	615.9
Goodwill	1,712.4	1,667.2
Other assets	156.6	200.8
Total assets	4,263.7	4,349.8
Current liabilities:
Short-term borrowings	7.7	3.7
Trade accounts payable	413.5	424.9
Current operating lease liabilities	12.3	12.8
Accrued expenses and other current liabilities	402.4	492
Current liabilities held for sale	39.4	0
Total current liabilities	875.3	933.4
Long-term operating lease liabilities	32.7	35.6
Long-term debt	2,635.9	2,583.8
Other long-term liabilities	219.8	223.3
Commitments and Contingencies
Equity:
Preferred stock -- 15,000,000 authorized shares; no par value and none issued and outstanding	0	0
Common stock, $0.0001 par value -- 1,985,000,000 shares authorized; 169,598,805 and 169,168,285 shares issued; and 157,993,435 and 169,168,285 shares outstanding as of September 30, 2022 and December 31, 2021, respectively	0	0
Treasury stock, at cost — 11,605,370 and no shares at September 30, 2022 and December 31, 2021, respectively	(288)	0
Additional paid-in capital	19.4	1.5
Retained earnings	706.9	386.7
Accumulated other comprehensive income	59	181.7
Total Vontier stockholders’ equity	497.3	569.9
Noncontrolling interests	2.7	3.8
Total stockholders’ equity	500	573.7
Total liabilities and equity	$ 4,263.7	$ 4,349.8

Consolidated Condensed Balanc_2

Consolidated Condensed Balance Sheets (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Accounts receivable, allowance for credit losses	$ 34.3	$ 38.9
Accumulated depreciation	236.8	256.3
Financing receivable, allowance for credit losses	$ 37.3	$ 42.5
Preferred stock, authorized (in shares)	15,000,000	15,000,000
Preferred stock, par value (in dollars per share)	$ 0	$ 0
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)	169,598,805	169,168,285
Common stock, outstanding (in shares)	157,993,435	169,168,285
Treasury stock (in shares)	11,605,370	0

Consolidated Condensed Statemen

Consolidated Condensed Statements of Earnings and Comprehensive Income - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Oct. 01, 2021	Sep. 30, 2022	Oct. 01, 2021
Sales	$ 788	$ 768.5	$ 2,312.5	$ 2,200.5
Cost of sales	(428.1)	(422.1)	(1,269.2)	(1,223.8)
Gross profit	359.9	346.4	1,043.3	976.7
Operating costs:
Selling, general and administrative expenses	(174.7)	(147.8)	(517.4)	(458.1)
Research and development expenses	(35)	(31.2)	(104.4)	(97.3)
Operating profit	150.2	167.4	421.5	421.3
Non-operating income (expense), net:
Interest expense, net	(17.9)	(12)	(46.1)	(34.4)
Write-off of deferred financing costs	0	0	0	(3.4)
Gain on settlement of investment	0	3.2	0	3.2
Gain on previously held equity interests from combination of business	0	0	32.7	0
Unrealized (loss)/gain on equity securities measured at fair value	(65.8)	0	17.2	0
Other non-operating income (expense), net	1.4	(0.2)	1.3	(0.3)
Earnings before income taxes	67.9	158.4	426.6	386.4
Provision for income taxes	(17.8)	(31.1)	(93)	(85.8)
Net earnings	$ 50.1	$ 127.3	$ 333.6	$ 300.6
Net earnings per share:
Basic (in dollars per share)	$ 0.32	$ 0.75	$ 2.07	$ 1.78
Diluted (in dollars per share)	$ 0.32	$ 0.75	$ 2.06	$ 1.77
Average common stock and common equivalent shares outstanding:
Basic (in shares)	158.2	169.1	161.5	168.9
Diluted (in shares)	158.7	170.3	162.2	170
Net earnings	$ 50.1	$ 127.3	$ 333.6	$ 300.6
Other comprehensive income (loss), net of income taxes:
Foreign currency translation adjustments	(44.7)	(7)	(122.9)	(24.7)
Other adjustments	0	0.2	0.2	0.3
Total other comprehensive loss, net of income taxes	(44.7)	(6.8)	(122.7)	(24.4)
Comprehensive income	5.4	120.5	210.9	276.2
Sales of products
Sales	707.7	699.7	2,080.5	2,005.1
Cost of sales	(373)	(371.8)	(1,115.8)	(1,067.3)
Sales of services
Sales	80.3	68.8	232	195.4
Cost of sales	$ (55.1)	$ (50.3)	$ (153.4)	$ (156.5)

Consolidated Condensed Statem_2

Consolidated Condensed Statements of Changes in Stockholders' Equity - USD ($) $ in Millions	Total	Common Stock	Treasury Stock	Additional Paid-In Capital	Retained Earnings (Accumulated Deficit)	Accumulated Other Comprehensive Income/(loss)	Noncontrolling Interests
Beginning balance (in shares) at Dec. 31, 2020		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 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		168,500,000
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 loss, net of income taxes	(24.4)
Ending balance (in shares) at Oct. 01, 2021		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 ($0.025 per share)	(4.2)				(4.2)
Other comprehensive 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 ($0.025 per share)	(4.2)				(4.2)
Other comprehensive 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		169,000,000
Ending balance at Oct. 01, 2021	$ 474.6	$ 0		22.6	278.6	169.4	4
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Treasury stock, common, shares (in shares)			0
Beginning balance (in shares) at Dec. 31, 2021	169,168,285	169,200,000
Beginning balance at Dec. 31, 2021	$ 573.7	$ 0	$ 0	1.5	386.7	181.7	3.8
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	250.2				250.2
Dividends on common stock ($0.025 per share)	(4)				(4)
Other comprehensive loss, net of income taxes	(15)					(15)
Stock-based compensation expense	6.1			6.1
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	(2)			(2)
Purchase of treasury stock (in shares)			(8,500,000)
Purchase of treasury stock	(257)		$ (207)		(50)
Change in noncontrolling interests	(0.1)						(0.1)
Ending balance (in shares) at Apr. 01, 2022		169,500,000
Ending balance at Apr. 01, 2022	$ 551.9	$ 0	(207)	5.6	582.9	166.7	3.7
Beginning balance (in shares) at Dec. 31, 2021	169,168,285	169,200,000
Beginning balance at Dec. 31, 2021	$ 573.7	$ 0	0	1.5	386.7	181.7	3.8
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	333.6
Other comprehensive loss, net of income taxes	$ (122.7)
Ending balance (in shares) at Sep. 30, 2022	157,993,435	169,600,000
Ending balance at Sep. 30, 2022	$ 500	$ 0	$ (288)	19.4	706.9	59	2.7
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Treasury stock, common, shares (in shares)			(8,500,000)
Beginning balance (in shares) at Apr. 01, 2022		169,500,000
Beginning balance at Apr. 01, 2022	551.9	$ 0	$ (207)	5.6	582.9	166.7	3.7
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	33.3				33.3
Dividends on common stock ($0.025 per share)	(4)				(4)
Other comprehensive loss, net of income taxes	(63)					(63)
Stock-based compensation expense	7			7
Exercise of common stock options and stock award distributions, net of shares for tax withholding	0.2			0.2
Purchase of treasury stock (in shares)			(2,300,000)
Purchase of treasury stock	(21)		$ (71)		50
Change in noncontrolling interests	(1.7)				(1.4)		(0.3)
Ending balance (in shares) at Jul. 01, 2022		169,500,000
Ending balance at Jul. 01, 2022	502.7	$ 0	$ (278)	12.8	660.8	103.7	3.4
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Treasury stock, common, shares (in shares)			(10,800,000)
Net earnings	50.1				50.1
Dividends on common stock ($0.025 per share)	(4)				(4)
Other comprehensive loss, net of income taxes	(44.7)					(44.7)
Stock-based compensation expense	5.9			5.9
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	$ 0.7			0.7
Purchase of treasury stock (in shares)	(1,800,000)		(800,000)
Purchase of treasury stock	$ (10)		$ (10)
Change in noncontrolling interests	$ (0.7)						(0.7)
Ending balance (in shares) at Sep. 30, 2022	157,993,435	169,600,000
Ending balance at Sep. 30, 2022	$ 500	$ 0	$ (288)	$ 19.4	$ 706.9	$ 59	$ 2.7
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Treasury stock, common, shares (in shares)			(11,600,000)

Consolidated Condensed Statem_3

Consolidated Condensed Statements of Changes in Stockholders' Equity (Parenthetical) - $ / shares	3 Months Ended
	Sep. 30, 2022	Jul. 01, 2022	Apr. 01, 2022	Oct. 01, 2021	Jul. 02, 2021
Statement of Stockholders' Equity [Abstract]
Dividend per Common Share (in dollars per share)	$ 0.025	$ 0.025	$ 0.025	$ 0.025	$ 0.025

Consolidated and Combined Conde

Consolidated and Combined Condensed Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Oct. 01, 2021
Cash flows from operating activities:
Net earnings	$ 333.6	$ 300.6
Non-cash items:
Depreciation and amortization expense	86.8	59
Stock-based compensation expense	19	19.3
Write-off of deferred financing costs	0	3.4
Amortization of debt issuance costs	2.5	2.6
Gain on previously held equity interests from combination of business	(32.7)	0
Gain on settlement of investment	0	(3.2)
Unrealized gain on equity securities measured at fair value	(17.4)	0
Amortization of acquisition-related inventory fair value step-up	0	1.6
Gain on equity investments	(2.8)	0
Fixed asset impairment	2.1	0
Change in deferred income taxes	(16.8)	(27.4)
Change in accounts receivable and long-term financing receivables, net	(76.1)	(25)
Change in other operating assets and liabilities	(158.4)	11
Net cash provided by operating activities	139.8	341.9
Cash flows from investing activities:
Cash paid for acquisitions, net of cash received	(277.1)	(955.5)
Payments for additions to property, plant and equipment	(43)	(32.9)
Proceeds from sale of asset	0.2	0
Cash paid for equity investments	(11.3)	(7.6)
Proceeds from sale of equity securities	5.1	0
Cash received for settlement of investment	0	7
Net cash used in investing activities	(326.1)	(989)
Cash flows from financing activities:
Proceeds from issuance of long-term debt	235	2,186.5
Repayment of long-term debt	(185)	(1,400)
Payment for debt issuance costs	0	(5.1)
Payment of common stock cash dividend	(12)	(8.4)
Purchase of treasury stock	(288)	0
Net borrowings (repayments) of short-term debt	3.6	(6.2)
Net transfers to Former Parent	0	(35.6)
Proceeds from stock option exercises	1.3	6.8
Acquisition of noncontrolling interest	0	(1.9)
Other financing activities	(3.8)	(4.8)
Net cash (used in) provided by financing activities	(248.9)	731.3
Effect of exchange rate changes on cash and cash equivalents	(15.7)	(5.8)
Net change in cash and cash equivalents	(450.9)	78.4
Beginning balance of cash and cash equivalents	572.6	380.5
Ending balance of cash and cash equivalents	$ 121.7	$ 458.9

Business Overview and Basis of

Business Overview and Basis of Presentation	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business Overview and Basis of Presentation	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. Basis of Presentation and Unaudited Interim Financial Information The accompanying Consolidated 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”) and are unaudited. The interim Consolidated Condensed Financial Statements include the accounts of the Company and its subsidiaries and affiliates in which the Company has a controlling financial interest or is the primary beneficiary. All intercompany accounts and transactions have been eliminated upon consolidation. 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 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 2021 Annual Report on Form 10-K. The Consolidated Condensed Financial Statements also reflect the impact of noncontrolling interests. Noncontrolling interests do not have a significant impact on our consolidated results of operations, therefore net earnings and net earnings per share attributable to noncontrolling interests are not presented separately in our Consolidated 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. Recently Issued Accounting Standards In March 2020, the FASB issued Accounting Standards Update (“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 the London Interbank Offered Rate (“LIBOR”) which is being phased out beginning at the end of 2021, to alternate reference rates, such as the Secured Overnight Financing Rate. 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. In March 2022, the FASB issued ASU No. 2022-02, Financial Instruments – Credit Losses (Topic 326) – Troubled Debt Restructurings and Vintage Disclosures, which requires enhanced disclosure of certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty while eliminating certain current recognition and measurement accounting guidance. This ASU also requires the disclosure of current-period gross write-offs by year of origination for financing receivables and net investments in leases. ASU No. 2022-02 is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years; this ASU allows for early adoption in any interim period after issuance of the update. The Company is currently assessing the impact this ASU will have on its consolidated financial statements.

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Acquisitions	ACQUISITIONS 2021 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 $955.8 million in cash. This acquisition aligns with the Company’s portfolio diversification strategy and enables opportunities in new end markets. With this acquisition, the Company expects to grow its retail solutions portfolio. The acquisition of DRB was accounted for as a business combination and, accordingly, the assets acquired and the liabilities assumed have been recorded at their respective fair values as of the acquisition date. The goodwill is attributable to the workforce of the acquired business, future market opportunities and the expected synergies with the Company’s existing operations. The majority of goodwill derived from this acquisition is deductible for tax purposes. The Company’s final purchase price allocation is as follows: ($ in millions) Preliminary Purchase Price Allocation Measurement Period Adjustments Final Purchase Price Allocation Weighted Average Amortization Period Accounts receivable $ 17.3 $ (3.3) $ 14.0 Inventories 21.0 (0.1) 20.9 Prepaid and other current assets 3.8 (0.1) 3.7 Technology 142.1 0.5 142.6 9.0 Customer relationships 227.0 — 227.0 11.0 Trade names 36.0 — 36.0 14.0 Goodwill 587.4 (15.6) 571.8 Other assets 14.9 0.1 15.0 Trade accounts payable (5.8) — (5.8) Accrued expenses and other current liabilities (44.6) 2.5 (42.1) Other long-term liabilities (43.6) 16.3 (27.3) Purchase price, net of cash acquired $ 955.5 $ 0.3 $ 955.8 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 results such as revenues, margin, net working capital and other valuation assumptions such as useful lives, royalty rates, attrition rates and discount rates. These assumptions are forward looking and could be affected by future economic and market conditions. 2022 Acquisitions Driivz On February 7, 2022, the Company acquired the remaining 81% of the outstanding shares of Driivz Ltd. (“Driivz”) for $152.6 million, net of cash received. Driivz, which is based in Israel, is a cloud-based subscription software platform supporting electric vehicle charging infrastructure (“EVCI”) providers with operations management, energy optimization, billing and roaming capabilities, as well as driver self-service apps. The acquisition of Driivz accelerates the Company’s portfolio diversification and e-mobility strategies and positions the Company to capitalize on the global EVCI market opportunities. The acquisition of Driivz was accounted for as a business combination and, accordingly, the assets acquired and the liabilities assumed have been recorded at their respective fair values as of the acquisition date. The goodwill is attributable to the workforce of the acquired business, future market opportunities and the expected synergies with the Company’s existing operations. The majority of the goodwill derived from this acquisition is not expected to be deductible for tax purposes. The Company’s estimate of the purchase price allocation is as follows: ($ in millions) Driivz Weighted Average Amortization Period Accounts receivable $ 1.0 Technology 56.3 8.0 Customer relationships 28.1 13.0 Trade names 9.2 16.0 Goodwill 127.4 Other assets 2.9 Trade accounts payable (0.1) Accrued expenses and other current liabilities (12.4) Other long-term liabilities (16.8) Purchase price, net of cash received $ 195.6 We recorded certain adjustments to the preliminary purchase price allocation during the nine months ended September 30, 2022 resulting in a net decrease of $3.5 million to goodwill. Revenue and operating profit attributable to the acquisitions was insignificant for the nine months ended September 30, 2022. The carrying value of the Company’s approximately 19% interest in Driivz prior to the acquisition was $10.3 million, which historically was carried at cost. In connection with the acquisition, this investment was remeasured to a fair value of $43.0 million resulting in the recognition of an aggregate noncash gain of $32.7 million during the first quarter of 2022, which was included in Gain on previously held equity interests from combination of business in the Consolidated Condensed Statements of Earnings and Comprehensive Income. To determine the fair value of the acquired intangible assets and previously held equity interests, management utilized significant unobservable inputs (Level 3 in the fair value hierarchy) and was required to make judgements and estimates about future results such as revenues, margin, net working capital and other valuation assumptions such as useful lives, royalty rates, attrition rates and discount rates. These assumptions are forward looking and could be affected by future economic and market conditions. Acquisition-related costs related to Driivz are included in Selling, general and administrative expenses in the Consolidated Condensed Statement of Earnings and were $1.2 million. The Company has not disclosed post-acquisition or pro-forma revenue and earnings attributable to Driivz as it did not have a material effect on the Company’s results. The purchase price allocation has not been finalized for Driivz as the analysis of the assets acquired and liabilities assumed has not been completed. The procedures to finalize may result in further adjustments to our purchase accounting that could result in additional measurement period adjustments, which could have a material effect on the consolidated financial statements. The accounting for the acquisition will be completed no later than one year from the acquisition date, in accordance with GAAP. Invenco On August 31, 2022, the Company acquired all of the outstanding equity interests of Invenco Group Ltd. (“Invenco”) for $85.7 million, net of cash received. The initial purchase price includes contingent consideration initially measured at $9.2 million, which can reach up to $100 million based on achieving certain revenue targets. Invenco, which is based in New Zealand, is a global provider of self service payment solutions with a range of products including outdoor payment terminals, electronic payment servers, payment switches, and cloud services. The acquisition of Invenco further advances the Company’s portfolio diversification and accelerates our digital strategy. The acquisition of Invenco 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 consideration paid was allocated as follows: (i) $38.4 million to definite-lived intangible assets consisting of developed technology, customer relationships and a trade name with a weighted average amortization period of approximately eight years, (ii) $27.3 million to goodwill and (iii) $20.0 million to other net assets. 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 majority of the goodwill derived from this acquisition is not expected to be deductible for tax purposes. Acquisition-related costs related to Invenco are included in Selling, general and administrative expenses in the Consolidated Condensed Statement of Earnings and were $1.1 million. The Company has not disclosed post-acquisition or pro-forma revenue and earnings attributable to Invenco as it did not have a material effect on the Company’s results. The purchase price allocation has not been finalized for Invenco as the analysis of the assets acquired and liabilities assumed has not been completed. The procedures to finalize may result in further adjustments to our purchase accounting that could result in additional measurement period adjustments, which could have a material effect on the consolidated financial statements. The accounting for the acquisition will be completed no later than one year from the acquisition date, in accordance with GAAP. To determine the preliminary fair value of the acquired intangible assets included above for Invenco, management utilized significant unobservable inputs (Level 3 in the fair value hierarchy). The assumptions used are forward looking and could be affected by future economic and market conditions. Other Acquisitions In addition to the acquisitions noted above, in 2022 we acquired all of the outstanding equity interests in two other businesses for $45.5 million, net of cash received. The initial purchase price includes $4.5 million of contingent consideration, which is based on future revenues of the acquired business and is unlimited. Both of these acquisitions align with the Company’s portfolio diversification strategy and enable opportunities in new end markets. These purchase price allocations have not been finalized as the analysis of the assets and liabilities acquired has not been completed. The procedures to finalize may result in further adjustments to our purchase accounting that could result in additional measurement period adjustments, which could have a material effect on the consolidated financial statements. The accounting for the acquisition will be completed no later than one year from the acquisition date, in accordance with GAAP. The Company has not disclosed post-acquisition or pro-forma revenue and earnings attributable to these acquisitions as it did not have a material effect on the Company’s results.

Financing and Trade Receivables

Financing and Trade Receivables	9 Months Ended
	Sep. 30, 2022
Credit Loss [Abstract]
Financing and Trade Receivables	FINANCING AND TRADE 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 September 30, 2022 and December 31, 2021. Product sales to franchisees and the related financing income is included in Cash flows from operating activities in the accompanying Consolidated 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) September 30, 2022 December 31, 2021 Gross current financing receivables: PSAs $ 96.1 $ 98.4 Franchisee Notes 15.8 15.5 Current financing receivables, gross $ 111.9 $ 113.9 Allowance for credit losses: PSAs $ 14.5 $ 16.9 Franchisee Notes 6.1 6.5 Total allowance for credit losses 20.6 23.4 Total current financing receivables, net $ 91.3 $ 90.5 Net current financing receivables: PSAs, net $ 81.6 $ 81.5 Franchisee Notes, net 9.7 9.0 Total current financing receivables, net $ 91.3 $ 90.5 The components of financing receivables with payments due beyond one year were as follows: ($ in millions) September 30, 2022 December 31, 2021 Gross long-term financing receivables: PSAs $ 223.0 $ 219.7 Franchisee Notes 63.5 64.5 Long-term financing receivables, gross $ 286.5 $ 284.2 Allowance for credit losses: PSAs $ 31.8 $ 37.2 Franchisee Notes 5.5 5.3 Total allowance for credit losses 37.3 42.5 Total long-term financing receivables, net $ 249.2 $ 241.7 Net long-term financing receivables: PSAs, net $ 191.2 $ 182.5 Franchisee Notes, net 58.0 59.2 Total long-term financing receivables, net $ 249.2 $ 241.7 Net deferred origination costs were insignificant as of September 30, 2022 and December 31, 2021. As of September 30, 2022 and December 31, 2021, we had a net unamortized discount on our financing receivables of $16.7 million. It is the Company’s general practice to not engage in contract or loan modifications of existing arrangements for troubled debt restructurings. In limited instances, the Company may modify certain impaired receivables with customers in bankruptcy or other legal proceedings, or in the event of significant natural disasters. Restructured financing receivables as of September 30, 2022 and December 31, 2021 were insignificant. Credit score and distributor tenure are the primary indicators of credit quality for the Company’s financing receivables. Depending on the contract, payments for financing receivables are due on a monthly or weekly basis. Weekly payments are converted into a monthly equivalent for purposes of calculating delinquency. Delinquencies are assessed at the end of each month following the monthly equivalent due date and are considered delinquent once past due. The amortized cost basis of PSAs and Franchisee Notes by origination year as of September 30, 2022, is as follows: ($ in millions) 2022 2021 2020 2019 2018 Prior Total PSAs Credit Score: Less than 400 $ 12.7 $ 9.8 $ 4.9 $ 2.7 $ 0.8 $ 0.2 $ 31.1 400-599 20.0 14.6 8.4 4.1 1.5 0.6 49.2 600-799 41.1 30.4 16.0 7.7 2.7 0.9 98.8 800+ 65.6 40.5 20.8 9.4 3.0 0.7 140.0 Total PSAs $ 139.4 $ 95.3 $ 50.1 $ 23.9 $ 8.0 $ 2.4 $ 319.1 Franchisee Notes Active distributors $ 18.7 $ 23.8 $ 9.1 $ 8.4 $ 4.5 $ 4.5 $ 69.0 Separated distributors 0.1 0.6 1.6 2.6 1.3 4.1 10.3 Total Franchisee Notes $ 18.8 $ 24.4 $ 10.7 $ 11.0 $ 5.8 $ 8.6 $ 79.3 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 September 30, 2022 $ 3.4 $ 1.7 $ 6.4 $ 11.5 $ 307.6 $ 319.1 $ 6.4 December 31, 2021 3.3 1.7 6.5 11.5 306.6 318.1 6.5 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 September 30, 2022 and December 31, 2021. 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: September 30, 2022 December 31, 2021 ($ in millions) PSAs Franchisee Notes Total PSAs Franchisee Notes Total Allowance for credit losses, beginning of year $ 54.1 $ 11.8 $ 65.9 $ 54.3 $ 12.5 $ 66.8 Provision for credit losses 14.4 3.5 17.9 24.9 4.2 29.1 Write-offs (23.9) (3.8) (27.7) (27.5) (5.6) (33.1) Recoveries of amounts previously charged off 1.7 0.1 1.8 2.4 0.7 3.1 Allowance for credit losses, end of period $ 46.3 $ 11.6 $ 57.9 $ 54.1 $ 11.8 $ 65.9 The ending balance as of September 30, 2022 of $57.9 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 $20.6 million and $37.3 million, respectively. The ending balance as of December 31, 2021 of $65.9 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 $23.4 million and $42.5 million, respectively. Allowance for Credit Losses Related to Trade Accounts Receivables The following is a rollforward of the allowance for credit losses related to the Company’s trade accounts receivables (excluding financing receivables) and the Company’s trade accounts receivable cost basis as of: ($ in millions) September 30, 2022 December 31, 2021 Cost basis of trade accounts receivable $ 433.6 $ 406.3 Allowance for credit losses balance, beginning of year 15.5 18.1 Provision for credit losses 3.3 7.7 Write-offs (3.9) (10.2) Reclassification to held for sale (0.3) — Foreign currency and other (0.9) (0.1) Allowance for credit losses balance, end of period 13.7 15.5 Net trade accounts receivable balance $ 419.9 $ 390.8

Goodwill

Goodwill	9 Months Ended
	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	GOODWILL The following is a rollforward of our carrying value of goodwill: ($ in millions) Balance, December 31, 2021 $ 1,667.2 Measurement period adjustments for prior year acquisition (12.9) Addition to goodwill for current year acquisitions (including measurement period adjustments) 182.4 Reclassification to held for sale (56.0) FX translation (68.3) Balance, September 30, 2022 $ 1,712.4 Accumulated impairment charges were $85.3 million as of September 30, 2022 and December 31, 2021. No impairment charges were recorded during the nine months ended September 30, 2022.

Financing

Financing	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Financing	FINANCING The Company had the following debt outstanding as of: ($ in millions) September 30, 2022 December 31, 2021 Short-term borrowings: India Credit Facility $ 1.7 $ 1.5 Other short-term borrowings and bank overdrafts 6.0 2.2 Total short-term borrowings $ 7.7 $ 3.7 Long-term debt: Two-Year Term Loans due 2023 $ 600.0 $ 600.0 Three-Year Term Loans due 2024 400.0 400.0 1.800% senior unsecured notes due 2026 500.0 500.0 2.400% senior unsecured notes due 2028 500.0 500.0 2.950% senior unsecured notes due 2031 600.0 600.0 Revolving Credit Facility due 2026 50.0 — Total long-term debt 2,650.0 2,600.0 Less: discounts and debt issuance costs (14.1) (16.2) Total long-term debt, net $ 2,635.9 $ 2,583.8 Debt issuance costs that have been netted against the aggregate principal amounts of the components of debt in the short-term borrowings section above are immaterial. Given the nature of the short-term borrowings, the carrying value approximates fair value at both September 30, 2022 and December 31, 2021. Credit Facilities Revolving Credit Facility On April 28, 2021, the Company refinanced its existing credit agreement. The amended and restated credit agreement (the “A&R Credit Agreement”) extended the term of the $750.0 million senior unsecured multi-currency revolving credit facility (the “Revolving Credit Facility”) from September 29, 2023 to April 28, 2026 and reduced the interest rate. 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 September 30, 2022. As of September 30, 2022, $50.0 million was outstanding under the Revolving Credit Facility. There was no material difference between the carrying value and the estimated fair value of the debt outstanding. Three-Year Term Loans Due 2024 The A&R Credit Agreement also extended the term of the $400.0 million Three-Year Term Loans Due 2024 from October 6, 2023 to October 28, 2024 and reduced the interest rate. 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 September 30, 2022. The interest rate was 4.24% per annum as of September 30, 2022. We are not obligated to make repayments prior to the maturity date. There was no material difference between the carrying value and the estimated fair value of the debt outstanding. Two-Year Term Loans Due 2023 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 September 30, 2022. The interest rate was 3.87% per annum as of September 30, 2022. The Two-Year Term Loans Due 2023 mature on September 13, 2023. We are not obligated to make repayments prior to the maturity date. 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 September 30, 2022. On October 28, 2022, the Company entered into an agreement to refinance the Two-Year Term Loans Due 2023 into a new $600 million Three-year delayed draw term loan. The Company plans to draw on this loan in full on or before December 30, 2022 and use the proceeds to pay off the existing Two-Year Term Loans Due 2023. Accordingly, the Two-Year Term Loans Due 2023 remain classified as long-term as of September 30, 2022. 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. 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 (the “Registered Exchange Offer”) each series of Notes for registered notes with terms that are substantially identical to the Notes of each series. We completed the Registered Exchange Offer on January 18, 2022. Substantially all of the Notes were tendered and exchanged for the corresponding Registered Notes in the Registered Exchange Offer. The Registered 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 Registered Notes is payable semi-annually in arrears on April 1 and October 1 of each year, and commenced on October 1, 2021. The Registered Notes and the Guarantees are the Company’s and the Guarantors’ general senior unsecured obligations. The Registered 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 September 30, 2022 we were in compliance with all of the covenants under the Registered Notes. The estimated fair value of the Registered Notes was $1.2 billion as of September 30, 2022. The fair value of the Registered 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 $10.4 million as of September 30, 2022) to facilitate working capital needs for certain businesses in India. As of September 30, 2022, the Company had $8.7 million borrowing capacity remaining. The effective interest rate associated with outstanding borrowings was 7.00% as of September 30, 2022. Other As of September 30, 2022, 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 September 30, 2022 and October 1, 2021.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) Foreign currency translation adjustments are generally not adjusted for income taxes as they relate to indefinite investments in non-U.S. subsidiaries. The changes in Accumulated other comprehensive income/(loss) by component are summarized below: ($ in millions) Foreign Currency Translation Adjustments Other Adjustments (a) Total For the Three Months Ended September 30, 2022: Balance, July 1, 2022 $ 106.7 $ (3.0) $ 103.7 Other comprehensive income (loss) before reclassifications, net of income taxes (44.7) — (44.7) Amounts reclassified from accumulated other comprehensive income (loss): Increase — 0.1 0.1 Income tax impact — (0.1) (0.1) Amounts reclassified from accumulated other comprehensive income, net of income taxes — — (b) — Net current period other comprehensive income (loss), net of income taxes (44.7) — (44.7) Balance, September 30, 2022 $ 62.0 $ (3.0) $ 59.0 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 (loss): 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 (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 September 30, 2022: Balance, December 31, 2021 $ 184.9 $ (3.2) $ 181.7 Other comprehensive income (loss) before reclassifications, net of income taxes (122.9) — (122.9) Amounts reclassified from accumulated other comprehensive income (loss): Increase — 0.3 0.3 Income tax impact — (0.1) (0.1) 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 (122.9) 0.2 (122.7) Balance, September 30, 2022 $ 62.0 $ (3.0) $ 59.0 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 (loss): 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 (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
	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Sales	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 $12.6 million and $10.4 million as of September 30, 2022 and December 31, 2021, respectively, and are included in Prepaid expenses and other current assets in the accompanying Consolidated Condensed Balance Sheets. 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 September 30, 2022 and December 31, 2021, we had $75.7 million and $78.4 million, respectively, in net revenue-related capitalized contract costs primarily related to assets used by our customers in certain software contracts, which are recorded in Prepaid expenses and other current assets, for the current portion, and Other assets, for the noncurrent portion, in the accompanying Consolidated Condensed Balance Sheets. These assets have estimated useful lives between 3 and 5 years and are amortized on a straight-line basis. Impairment losses recognized on our revenue-related contract assets were insignificant during the three and nine months ended September 30, 2022 and October 1, 2021. Contract Liabilities The Company’s contract liabilities consist of deferred revenue generally related to customer deposits, post contract support (“PCS”) and extended warranty sales. In these arrangements, the Company generally receives up-front payment and recognizes revenue over the support term of the contracts where applicable. Deferred revenue is classified as current or noncurrent based on the timing of when revenue is expected to be recognized and is included in Accrued expenses and other current liabilities and Other long-term liabilities, respectively, in the accompanying Consolidated Condensed Balance Sheets. The Company’s contract liabilities consisted of the following: ($ in millions) September 30, 2022 December 31, 2021 Deferred revenue - current $ 141.8 $ 133.7 Deferred revenue - noncurrent 48.4 56.3 Total contract liabilities $ 190.2 $ 190.0 During the three and nine months ended September 30, 2022, we recognized $22.8 million and $102.1 million, respectively, of revenue related to the Company’s contract liabilities at December 31, 2021. The change in contract liabilities from December 31, 2021 to September 30, 2022 was primarily due to the timing of cash receipts and sales of PCS and extended warranty services as well as the impact of current year acquisitions. 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 September 30, 2022 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 September 30, 2022 are $348.7 million, the majority of which are related to the annual contract value for software-as-a-service contracts. The Company expects approximately 35 percent of the remaining performance obligations will be fulfilled within the next two years, 65 percent within the next three years, and substantially all within four years. Disaggregation of Revenue The Company disaggregates revenue from contracts with customers by sales of products and services, geographic location, solution and major product group, as it best depicts how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors. Disaggregation of revenue was as follows: Three Months Ended Nine Months Ended ($ in millions) September 30, 2022 October 1, 2021 September 30, 2022 October 1, 2021 Sales: Sales of products $ 707.7 $ 699.7 $ 2,080.5 $ 2,005.1 Sales of services 80.3 68.8 232.0 195.4 Total $ 788.0 $ 768.5 $ 2,312.5 $ 2,200.5 Geographic: North America (a) $ 603.2 $ 547.0 $ 1,746.5 $ 1,568.2 Western Europe 48.3 68.7 168.1 191.3 High growth markets 101.5 115.8 299.4 337.1 Rest of world 35.0 37.0 98.5 103.9 Total $ 788.0 $ 768.5 $ 2,312.5 $ 2,200.5 Solution: Retail fueling hardware $ 213.5 $ 243.6 $ 608.8 $ 648.9 Auto repair 158.3 156.1 492.8 485.2 Service and other recurring revenue 118.7 118.0 362.7 361.4 Environmental 68.0 73.3 204.3 198.4 Retail solutions 154.3 96.4 415.6 285.1 Software-as-a-service 42.9 45.7 131.8 139.2 Alternative energy (b) 21.6 21.7 61.5 43.6 Smart cities 8.5 9.6 27.8 26.7 Other (b) 2.2 4.1 7.2 12.0 Total $ 788.0 $ 768.5 $ 2,312.5 $ 2,200.5 Major Product Group: Mobility technologies $ 605.6 $ 588.6 $ 1,746.5 $ 1,641.6 Diagnostics and repair technologies 182.4 179.9 566.0 558.9 Total $ 788.0 $ 768.5 $ 2,312.5 $ 2,200.5 (a) Includes sales in the United States of $567.4 million and $526.7 million for the three months ended September 30, 2022 and October 1, 2021, respectively, and sales in the United States of $1,672.4 million and $1,513.3 million for the nine months ended September 30, 2022 and October 1, 2021, respectively. (b) Certain prior year amounts were reclassified from “Other” and “E-mobility” to “Alternative energy” to conform with current year presentation.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES Our effective tax rate for the three and nine months ended September 30, 2022 was 26.2% and 21.8%, respectively, as compared to 19.6% and 22.2% for the three and nine months ended October 1, 2021. The year-over-year increase in the effective tax rate for the three months ended September 30, 2022 as compared to the comparable period in the prior year was primarily due to the recording of our investment in Tritium at fair value. The year-over-year decrease in the effective tax rate for the nine months ended September 30, 2022 as compared to the comparable period in the prior year was primarily due to an increase in non-taxable income related to our previously held equity interest in Driivz and a decrease in state taxes. Our effective tax rate for both periods in 2022 and 2021 differs from the U.S. federal statutory rate of 21% due primarily to the effect of state taxes and foreign taxable earnings at a rate different from the U.S. federal statutory rate, which for the nine months ended September 30, 2022, was offset by the increase in non-taxable income related to our previously held equity interest in Driivz.

Leases

Leases	9 Months Ended
	Sep. 30, 2022
Leases [Abstract]
Leases	LEASESOperating lease cost was $5.2 million and $5.3 million for the three months ended September 30, 2022 and October 1, 2021, respectively. For the nine months ended September 30, 2022 and October 1, 2021, operating lease cost was $16.4 million and $15.8 million, respectively. During the nine months ended September 30, 2022 and October 1, 2021, cash paid for operating leases included in operating cash flows was $14.7 million and $14.1 million, respectively. Right-of-use assets obtained in exchange for operating lease obligations were $7.7 million and $15.7 million for the nine months ended September 30, 2022 and October 1, 2021, respectively.

Litigation and Contingencies

Litigation and Contingencies	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Litigation and Contingencies	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, 2021 $ 49.4 Accruals for warranties issued during the period 22.7 Settlements made (24.9) Additions due to acquisition 0.5 Effect of foreign currency translation (0.9) Reclassification to held for sale (1.3) Balance, September 30, 2022 $ 45.5 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 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 $73.8 million and $79.0 million as of September 30, 2022 and December 31, 2021, respectively. Known and future expected asbestos claims of $14.2 million and $21.5 million are included in Accrued expenses and other current liabilities on the Consolidated Condensed Balance Sheets as of September 30, 2022 and December 31, 2021, respectively. Known and future expected asbestos claims of $59.6 million and $57.5 million are included in Other long-term liabilities on the Consolidated Condensed Balance Sheets as of both September 30, 2022 and December 31, 2021. We recorded the related projected insurance recoveries of $37.8 million and $45.0 million as of September 30, 2022 and December 31, 2021, respectively. Projected insurance recoveries in the accompanying Consolidated Condensed Balance Sheets as of September 30, 2022 include $7.5 million in Prepaid expenses and other current assets and $30.3 million in Other assets. Projected insurance recoveries in the accompanying Consolidated Condensed Balance Sheets as of December 31, 2021 include $14.8 million in Prepaid expenses and other current assets and $30.2 million in Other assets. Guarantees As of September 30, 2022 and December 31, 2021, we had guarantees consisting primarily of outstanding standby letters of credit, bank guarantees, and performance and bid bonds of approximately $86.7 million and $92.6 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
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	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 assets and liabilities that are measured at fair value on a recurring basis as of: ($ in millions) Quoted Prices Significant Other Significant Total September 30, 2022 Equity securities measured at fair value $ 67.1 $ — $ — $ 67.1 Earn-out liabilities — — 14.0 14.0 Deferred compensation liabilities — 4.9 — 4.9 December 31, 2021 Deferred compensation liabilities $ — $ 4.8 $ — $ 4.8 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. Refer to Note 2. Acquisitions for information regarding earn-out liabilities. Other Investments The Company holds a minority interest in Tritium Holdings Pty, Ltd (“Tritium”) which historically was recorded at cost in Other assets on the Consolidated Condensed Balance Sheets. On January 13, 2022, Tritium announced that it completed a business combination with Decarbonization Plus Acquisition Corporation II to make Tritium a publicly listed company on NASDAQ under the symbol “DCFC”. As Tritium is now publicly traded, the Company records its investment at fair value in Equity securities measured at fair value on the Consolidated Condensed Balance Sheets with changes in the value recorded in Unrealized (loss)/gain on equity securities measured at fair value on the Consolidated Condensed Statements of Earnings and Comprehensive Income and the Consolidated Condensed Statements of Cash Flows. During the nine months ended September 30, 2022, the Company sold shares of Tritium stock and recognized a gain of $2.7 million which is recorded in Other non-operating income (expense), net on the Consolidated Condensed Statements of Earnings and Comprehensive Income and Gain on equity investments in the Consolidated Condensed Statements of Cash Flows. 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 September 30, 2022, assets carried on the balance sheet and not remeasured to fair value on a recurring basis were $1.7 billion of goodwill and $670.8 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
	Sep. 30, 2022
Related Party Transactions [Abstract]
Related Party Transactions	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. Net payments made during the three months ended October 1, 2021 were not significant. Net payments made during the three and nine months ended September 30, 2022 were not significant.

Capitalization and Earnings Per

Capitalization and Earnings Per Share	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
Capitalization and Earnings Per Share	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) September 30, 2022 October 1, 2021 September 30, 2022 October 1, 2021 Numerator: Net earnings $ 50.1 $ 127.3 $ 333.6 $ 300.6 Denominator: Basic weighted average common shares outstanding 158.2 169.1 161.5 168.9 Effect of dilutive stock options and RSUs 0.5 1.2 0.7 1.1 Diluted weighted average common shares outstanding 158.7 170.3 162.2 170.0 Earnings per share: Basic $ 0.32 $ 0.75 $ 2.07 $ 1.78 Diluted $ 0.32 $ 0.75 $ 2.06 $ 1.77 Anti-dilutive shares 3.4 1.6 3.3 2.5 Share Repurchase Program On May 24, 2022, the Company’s Board of Directors approved a replenishment of the Company’s previously approved share repurchase program announced in May 2021, bringing the total amount authorized for future share repurchases back up to $500 million. Under the share repurchase program, the Company will purchase shares of 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. In February 2022, the Company entered into an accelerated share repurchase agreement (“ASR”) with a third-party financial institution whereupon we provided them with a prepayment of $250.0 million and received an initial delivery of 8.2 million shares of our common stock. We received an additional 1.8 million shares of our common stock as final settlement of the ASR during Q2. In total, the Company repurchased 10.0 million shares under the ASR at an average price of $25.11 per share. During the nine months ended September 30, 2022, the Company repurchased an additional 1.6 million of the Company’s shares for $38.0 million through open market transactions at an average price per share of $23.02.

Assets and Liabilities Held for

Assets and Liabilities Held for Sale	9 Months Ended
	Sep. 30, 2022
Disposal Group, Not Discontinued Operation, Disposal Disclosures [Abstract]
Assets and Liabilities Held for Sale	ASSETS AND LIABILITIES HELD FOR SALE Hennessy During the three months ended July 1, 2022, the Company reached the strategic decision to exit our Hennessy business. The Company determined that the associated assets and liabilities met the held for sale accounting criteria and they were classified as Current assets held for sale and Current liabilities held for sale in the Consolidated Condensed Balance Sheet as of September 30, 2022. Global Traffic Technologies During the three months ended July 1, 2022, the Company reached the strategic decision to exit our Global Traffic Technologies business (collectively with Hennessy, the “Disposal Groups”). The Company determined that the associated assets and liabilities met the held for sale accounting criteria and they were classified as Current assets held for sale and Current liabilities held for sale in the Consolidated Condensed Balance Sheet as of September 30, 2022. The assets and liabilities were measured at the lower of fair value less costs to sell or the carrying value. The following table summarizes the carrying amounts of major classes of assets and liabilities of the Disposal Groups as of: ($ in millions) ASSETS Accounts receivable, net $ 21.3 Inventories 16.4 Other current assets 1.7 Property, plant and equipment, net 9.1 Operating lease right-of-use assets 0.4 Other intangible assets, net 28.7 Goodwill 56.0 Other assets 5.1 Total assets held for sale $ 138.7 LIABILITIES Trade accounts payable $ 14.4 Current operating lease liabilities 0.4 Accrued expenses and other current liabilities 14.6 Other long-term liabilities 10.0 Total liabilities held for sale $ 39.4 The operations of Hennessy and Global Traffic Technologies did not meet the criteria individually or in the aggregate to be presented as discontinued operations.

Subsequent Event

Subsequent Event	9 Months Ended
	Sep. 30, 2022
Subsequent Events [Abstract]
Subsequent Event	SUBSEQUENT EVENTOn October 28, 2022, the Company entered into an agreement to refinance the Two-Year Term Loans Due 2023 into a new $600 million three-year delayed draw term loan. The Company plans to draw on this loan in full on or before December 30, 2022 and use the proceeds to pay off the existing Two-Year Term Loans Due 2023. Accordingly, the Two-Year Term Loans Due 2023 remain classified as long-term as of September 30, 2022.

Business Overview and Basis o_2

Business Overview and Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation and Unaudited Interim Financial Information The accompanying Consolidated 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”) and are unaudited. The interim Consolidated Condensed Financial Statements include the accounts of the Company and its subsidiaries and affiliates in which the Company has a controlling financial interest or is the primary beneficiary. All intercompany accounts and transactions have been eliminated upon consolidation. 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 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 2021 Annual Report on Form 10-K.
Recently Issued Accounting Standards	Recently Issued Accounting Standards In March 2020, the FASB issued Accounting Standards Update (“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 the London Interbank Offered Rate (“LIBOR”) which is being phased out beginning at the end of 2021, to alternate reference rates, such as the Secured Overnight Financing Rate. 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. In March 2022, the FASB issued ASU No. 2022-02, Financial Instruments – Credit Losses (Topic 326) – Troubled Debt Restructurings and Vintage Disclosures, which requires enhanced disclosure of certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty while eliminating certain current recognition and measurement accounting guidance. This ASU also requires the disclosure of current-period gross write-offs by year of origination for financing receivables and net investments in leases. ASU No. 2022-02 is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years; this ASU allows for early adoption in any interim period after issuance of the update. The Company is currently assessing the impact this ASU will have on its consolidated financial statements.
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 $12.6 million and $10.4 million as of September 30, 2022 and December 31, 2021, respectively, and are included in Prepaid expenses and other current assets in the accompanying Consolidated Condensed Balance Sheets. 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 September 30, 2022 and December 31, 2021, we had $75.7 million and $78.4 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 September 30, 2022 and October 1, 2021. Contract Liabilities The Company’s contract liabilities consist of deferred revenue generally related to customer deposits, 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 where applicable. 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
	Sep. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Schedule of Business Acquisitions	The Company’s final purchase price allocation is as follows: ($ in millions) Preliminary Purchase Price Allocation Measurement Period Adjustments Final Purchase Price Allocation Weighted Average Amortization Period Accounts receivable $ 17.3 $ (3.3) $ 14.0 Inventories 21.0 (0.1) 20.9 Prepaid and other current assets 3.8 (0.1) 3.7 Technology 142.1 0.5 142.6 9.0 Customer relationships 227.0 — 227.0 11.0 Trade names 36.0 — 36.0 14.0 Goodwill 587.4 (15.6) 571.8 Other assets 14.9 0.1 15.0 Trade accounts payable (5.8) — (5.8) Accrued expenses and other current liabilities (44.6) 2.5 (42.1) Other long-term liabilities (43.6) 16.3 (27.3) Purchase price, net of cash acquired $ 955.5 $ 0.3 $ 955.8 The Company’s estimate of the purchase price allocation is as follows: ($ in millions) Driivz Weighted Average Amortization Period Accounts receivable $ 1.0 Technology 56.3 8.0 Customer relationships 28.1 13.0 Trade names 9.2 16.0 Goodwill 127.4 Other assets 2.9 Trade accounts payable (0.1) Accrued expenses and other current liabilities (12.4) Other long-term liabilities (16.8) Purchase price, net of cash received $ 195.6

Financing and Trade Receivabl_2

Financing and Trade Receivables (Tables)	9 Months Ended
	Sep. 30, 2022
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) September 30, 2022 December 31, 2021 Gross current financing receivables: PSAs $ 96.1 $ 98.4 Franchisee Notes 15.8 15.5 Current financing receivables, gross $ 111.9 $ 113.9 Allowance for credit losses: PSAs $ 14.5 $ 16.9 Franchisee Notes 6.1 6.5 Total allowance for credit losses 20.6 23.4 Total current financing receivables, net $ 91.3 $ 90.5 Net current financing receivables: PSAs, net $ 81.6 $ 81.5 Franchisee Notes, net 9.7 9.0 Total current financing receivables, net $ 91.3 $ 90.5 The components of financing receivables with payments due beyond one year were as follows: ($ in millions) September 30, 2022 December 31, 2021 Gross long-term financing receivables: PSAs $ 223.0 $ 219.7 Franchisee Notes 63.5 64.5 Long-term financing receivables, gross $ 286.5 $ 284.2 Allowance for credit losses: PSAs $ 31.8 $ 37.2 Franchisee Notes 5.5 5.3 Total allowance for credit losses 37.3 42.5 Total long-term financing receivables, net $ 249.2 $ 241.7 Net long-term financing receivables: PSAs, net $ 191.2 $ 182.5 Franchisee Notes, net 58.0 59.2 Total long-term financing receivables, net $ 249.2 $ 241.7
Financing Receivable Credit Quality Indicators	The amortized cost basis of PSAs and Franchisee Notes by origination year as of September 30, 2022, is as follows: ($ in millions) 2022 2021 2020 2019 2018 Prior Total PSAs Credit Score: Less than 400 $ 12.7 $ 9.8 $ 4.9 $ 2.7 $ 0.8 $ 0.2 $ 31.1 400-599 20.0 14.6 8.4 4.1 1.5 0.6 49.2 600-799 41.1 30.4 16.0 7.7 2.7 0.9 98.8 800+ 65.6 40.5 20.8 9.4 3.0 0.7 140.0 Total PSAs $ 139.4 $ 95.3 $ 50.1 $ 23.9 $ 8.0 $ 2.4 $ 319.1 Franchisee Notes Active distributors $ 18.7 $ 23.8 $ 9.1 $ 8.4 $ 4.5 $ 4.5 $ 69.0 Separated distributors 0.1 0.6 1.6 2.6 1.3 4.1 10.3 Total Franchisee Notes $ 18.8 $ 24.4 $ 10.7 $ 11.0 $ 5.8 $ 8.6 $ 79.3
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 September 30, 2022 $ 3.4 $ 1.7 $ 6.4 $ 11.5 $ 307.6 $ 319.1 $ 6.4 December 31, 2021 3.3 1.7 6.5 11.5 306.6 318.1 6.5
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: September 30, 2022 December 31, 2021 ($ in millions) PSAs Franchisee Notes Total PSAs Franchisee Notes Total Allowance for credit losses, beginning of year $ 54.1 $ 11.8 $ 65.9 $ 54.3 $ 12.5 $ 66.8 Provision for credit losses 14.4 3.5 17.9 24.9 4.2 29.1 Write-offs (23.9) (3.8) (27.7) (27.5) (5.6) (33.1) Recoveries of amounts previously charged off 1.7 0.1 1.8 2.4 0.7 3.1 Allowance for credit losses, end of period $ 46.3 $ 11.6 $ 57.9 $ 54.1 $ 11.8 $ 65.9
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: ($ in millions) September 30, 2022 December 31, 2021 Cost basis of trade accounts receivable $ 433.6 $ 406.3 Allowance for credit losses balance, beginning of year 15.5 18.1 Provision for credit losses 3.3 7.7 Write-offs (3.9) (10.2) Reclassification to held for sale (0.3) — Foreign currency and other (0.9) (0.1) Allowance for credit losses balance, end of period 13.7 15.5 Net trade accounts receivable balance $ 419.9 $ 390.8

Goodwill (Tables)

Goodwill (Tables)	9 Months Ended
	Sep. 30, 2022
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, 2021 $ 1,667.2 Measurement period adjustments for prior year acquisition (12.9) Addition to goodwill for current year acquisitions (including measurement period adjustments) 182.4 Reclassification to held for sale (56.0) FX translation (68.3) Balance, September 30, 2022 $ 1,712.4

Financing (Tables)

Financing (Tables)	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Schedule of Debt	The Company had the following debt outstanding as of: ($ in millions) September 30, 2022 December 31, 2021 Short-term borrowings: India Credit Facility $ 1.7 $ 1.5 Other short-term borrowings and bank overdrafts 6.0 2.2 Total short-term borrowings $ 7.7 $ 3.7 Long-term debt: Two-Year Term Loans due 2023 $ 600.0 $ 600.0 Three-Year Term Loans due 2024 400.0 400.0 1.800% senior unsecured notes due 2026 500.0 500.0 2.400% senior unsecured notes due 2028 500.0 500.0 2.950% senior unsecured notes due 2031 600.0 600.0 Revolving Credit Facility due 2026 50.0 — Total long-term debt 2,650.0 2,600.0 Less: discounts and debt issuance costs (14.1) (16.2) Total long-term debt, net $ 2,635.9 $ 2,583.8

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
Reclassification of Accumulated Other Comprehensive Income (Loss)	The changes in Accumulated other comprehensive income/(loss) by component are summarized below: ($ in millions) Foreign Currency Translation Adjustments Other Adjustments (a) Total For the Three Months Ended September 30, 2022: Balance, July 1, 2022 $ 106.7 $ (3.0) $ 103.7 Other comprehensive income (loss) before reclassifications, net of income taxes (44.7) — (44.7) Amounts reclassified from accumulated other comprehensive income (loss): Increase — 0.1 0.1 Income tax impact — (0.1) (0.1) Amounts reclassified from accumulated other comprehensive income, net of income taxes — — (b) — Net current period other comprehensive income (loss), net of income taxes (44.7) — (44.7) Balance, September 30, 2022 $ 62.0 $ (3.0) $ 59.0 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 (loss): 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 (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 September 30, 2022: Balance, December 31, 2021 $ 184.9 $ (3.2) $ 181.7 Other comprehensive income (loss) before reclassifications, net of income taxes (122.9) — (122.9) Amounts reclassified from accumulated other comprehensive income (loss): Increase — 0.3 0.3 Income tax impact — (0.1) (0.1) 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 (122.9) 0.2 (122.7) Balance, September 30, 2022 $ 62.0 $ (3.0) $ 59.0 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 (loss): 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 (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
	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Contract liabilities	The Company’s contract liabilities consisted of the following: ($ in millions) September 30, 2022 December 31, 2021 Deferred revenue - current $ 141.8 $ 133.7 Deferred revenue - noncurrent 48.4 56.3 Total contract liabilities $ 190.2 $ 190.0
Disaggregation of revenue	Disaggregation of revenue was as follows: Three Months Ended Nine Months Ended ($ in millions) September 30, 2022 October 1, 2021 September 30, 2022 October 1, 2021 Sales: Sales of products $ 707.7 $ 699.7 $ 2,080.5 $ 2,005.1 Sales of services 80.3 68.8 232.0 195.4 Total $ 788.0 $ 768.5 $ 2,312.5 $ 2,200.5 Geographic: North America (a) $ 603.2 $ 547.0 $ 1,746.5 $ 1,568.2 Western Europe 48.3 68.7 168.1 191.3 High growth markets 101.5 115.8 299.4 337.1 Rest of world 35.0 37.0 98.5 103.9 Total $ 788.0 $ 768.5 $ 2,312.5 $ 2,200.5 Solution: Retail fueling hardware $ 213.5 $ 243.6 $ 608.8 $ 648.9 Auto repair 158.3 156.1 492.8 485.2 Service and other recurring revenue 118.7 118.0 362.7 361.4 Environmental 68.0 73.3 204.3 198.4 Retail solutions 154.3 96.4 415.6 285.1 Software-as-a-service 42.9 45.7 131.8 139.2 Alternative energy (b) 21.6 21.7 61.5 43.6 Smart cities 8.5 9.6 27.8 26.7 Other (b) 2.2 4.1 7.2 12.0 Total $ 788.0 $ 768.5 $ 2,312.5 $ 2,200.5 Major Product Group: Mobility technologies $ 605.6 $ 588.6 $ 1,746.5 $ 1,641.6 Diagnostics and repair technologies 182.4 179.9 566.0 558.9 Total $ 788.0 $ 768.5 $ 2,312.5 $ 2,200.5 (a) Includes sales in the United States of $567.4 million and $526.7 million for the three months ended September 30, 2022 and October 1, 2021, respectively, and sales in the United States of $1,672.4 million and $1,513.3 million for the nine months ended September 30, 2022 and October 1, 2021, respectively. (b) Certain prior year amounts were reclassified from “Other” and “E-mobility” to “Alternative energy” to conform with current year presentation.

Litigation and Contingencies (T

Litigation and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2022
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, 2021 $ 49.4 Accruals for warranties issued during the period 22.7 Settlements made (24.9) Additions due to acquisition 0.5 Effect of foreign currency translation (0.9) Reclassification to held for sale (1.3) Balance, September 30, 2022 $ 45.5

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value, Liabilities Measured on Recurring Basis	Below is a summary of financial assets and liabilities that are measured at fair value on a recurring basis as of: ($ in millions) Quoted Prices Significant Other Significant Total September 30, 2022 Equity securities measured at fair value $ 67.1 $ — $ — $ 67.1 Earn-out liabilities — — 14.0 14.0 Deferred compensation liabilities — 4.9 — 4.9 December 31, 2021 Deferred compensation liabilities $ — $ 4.8 $ — $ 4.8

Capitalization and Earnings P_2

Capitalization and Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2022
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) September 30, 2022 October 1, 2021 September 30, 2022 October 1, 2021 Numerator: Net earnings $ 50.1 $ 127.3 $ 333.6 $ 300.6 Denominator: Basic weighted average common shares outstanding 158.2 169.1 161.5 168.9 Effect of dilutive stock options and RSUs 0.5 1.2 0.7 1.1 Diluted weighted average common shares outstanding 158.7 170.3 162.2 170.0 Earnings per share: Basic $ 0.32 $ 0.75 $ 2.07 $ 1.78 Diluted $ 0.32 $ 0.75 $ 2.06 $ 1.77 Anti-dilutive shares 3.4 1.6 3.3 2.5

Assets and Liabilities Held f_2

Assets and Liabilities Held for Sale (Tables)	9 Months Ended
	Sep. 30, 2022
Disposal Group, Not Discontinued Operation, Disposal Disclosures [Abstract]
Schedule of Key Components of Discontinued Operations	The following table summarizes the carrying amounts of major classes of assets and liabilities of the Disposal Groups as of: ($ in millions) ASSETS Accounts receivable, net $ 21.3 Inventories 16.4 Other current assets 1.7 Property, plant and equipment, net 9.1 Operating lease right-of-use assets 0.4 Other intangible assets, net 28.7 Goodwill 56.0 Other assets 5.1 Total assets held for sale $ 138.7 LIABILITIES Trade accounts payable $ 14.4 Current operating lease liabilities 0.4 Accrued expenses and other current liabilities 14.6 Other long-term liabilities 10.0 Total liabilities held for sale $ 39.4

Business Overview and Basis o_3

Business Overview and Basis of Presentation (Details)	9 Months Ended
	Sep. 30, 2022 segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	1
Number of operating segments	2

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) $ in Millions			3 Months Ended			9 Months Ended
	Aug. 31, 2022 USD ($)	Feb. 07, 2022 USD ($)	Sep. 30, 2022 USD ($)	Apr. 01, 2022 USD ($)	Oct. 01, 2021 USD ($)	Sep. 30, 2022 USD ($) business	Oct. 01, 2021 USD ($)	Feb. 06, 2022 USD ($)	Dec. 31, 2021 USD ($)	Sep. 13, 2021 USD ($)
Business Acquisition [Line Items]
Cash paid for acquisitions, net of cash received						$ 277.1	$ 955.5
Contingent Consideration if achieved certain targets						3.5
Equity securities measured at fair value			$ 67.1			67.1			$ 0
Gain on previously held equity interests from combination of business			0		$ 0	32.7	$ 0
Goodwill			1,712.4			$ 1,712.4			$ 1,667.2
Number of businesses acquired | business						2
Driivz
Business Acquisition [Line Items]
Equity securities measured at fair value								$ 10.3
DRB
Business Acquisition [Line Items]
Purchase price, net of cash acquired										$ 955.8
Goodwill										571.8
Other assets										$ 15
Driivz
Business Acquisition [Line Items]
Purchase price, net of cash acquired		$ 195.6
Voting interests acquired (as a percent)		81%
Cash paid for acquisitions, net of cash received		$ 152.6
Carrying value prior to acquisition (as a percent)								19%
Investment in acquiree, fair value		43
Gain on previously held equity interests from combination of business				$ 32.7
Acquisition-related costs		1.2
Goodwill		127.4
Other assets		$ 2.9
Invenco
Business Acquisition [Line Items]
Cash paid for acquisitions, net of cash received	$ 85.7
Acquisition-related costs	1.1
Contingent consideration, liability	9.2
Contingent consideration	100
Definite-lived intangibles acquired	$ 38.4
Weighted average life	8 years
Goodwill	$ 27.3
Other assets	$ 20
Series of Individually Immaterial Business Acquisitions
Business Acquisition [Line Items]
Acquisition-related costs						$ 1.3
Contingent consideration			$ 4.5			4.5
Cash consideration paid						$ 45.5

Acquisitions - Schedule of Busi

Acquisitions - Schedule of Business Acquisitions (Details) - USD ($) $ in Millions			9 Months Ended
	Feb. 07, 2022	Sep. 13, 2021	Sep. 30, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Goodwill			$ 1,712.4	$ 1,667.2
Measurement period adjustments, goodwill			$ (12.9)
DRB
Business Acquisition [Line Items]
Accounts receivable		$ 14
Measurement Period Adjustments, accounts receivable		(3.3)
Inventories		20.9
Measurement period adjustment, inventories		(0.1)
Prepaid and other current assets		3.7
Measurement period adjustment, prepaid and other current assets		(0.1)
Goodwill		571.8
Measurement period adjustments, goodwill		(15.6)
Other assets		15
Measurement period adjustments, other assets		0.1
Trade accounts payable		(5.8)
Measurement period adjustment, trade accounts payable		0
Accrued expenses and other current liabilities		(42.1)
Measurement period adjustments, accrued expenses and other current liabilities		2.5
Other long-term liabilities		(27.3)
Measurement period adjustments, other long-term liabilities		16.3
Purchase price, net of cash acquired		955.8
Measurement period adjustments, purchase price, net of cash acquired		0.3
DRB | Preliminary Purchase Price Allocation
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)
Purchase price, net of cash acquired		955.5
DRB | Technology
Business Acquisition [Line Items]
Intangible assets		142.6
Measurement period adjustments, technology		$ 0.5
Weighted average life		9 years
DRB | Technology | Preliminary Purchase Price Allocation
Business Acquisition [Line Items]
Intangible assets		$ 142.1
DRB | Customer relationships
Business Acquisition [Line Items]
Intangible assets		227
Measurement period adjustments, technology		$ 0
Weighted average life		11 years
DRB | Customer relationships | Preliminary Purchase Price Allocation
Business Acquisition [Line Items]
Intangible assets		$ 227
DRB | Trade names
Business Acquisition [Line Items]
Intangible assets		36
Measurement period adjustments, technology		$ 0
Weighted average life		14 years
DRB | Trade names | Preliminary Purchase Price Allocation
Business Acquisition [Line Items]
Intangible assets		$ 36
Driivz
Business Acquisition [Line Items]
Accounts receivable	$ 1
Goodwill	127.4
Other assets	2.9
Trade accounts payable	(0.1)
Accrued expenses and other current liabilities	(12.4)
Other long-term liabilities	(16.8)
Purchase price, net of cash acquired	195.6
Driivz | Technology
Business Acquisition [Line Items]
Intangible assets	$ 56.3
Weighted average life	8 years
Driivz | Customer relationships
Business Acquisition [Line Items]
Intangible assets	$ 28.1
Weighted average life	13 years
Driivz | Trade names
Business Acquisition [Line Items]
Intangible assets	$ 9.2
Weighted average life	16 years

Financing and Trade Receivabl_3

Financing and Trade Receivables - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021	Dec. 31, 2020
Financing Receivable, Allowance for Credit Loss [Line Items]
Net unamortized discount on financing receivable	$ 16.7	$ 16.7
Period after due date considered past due	21 days
Financing receivable, allowance for credit loss	$ 57.9	65.9	$ 66.8
Financing receivable, allowance for credit loss, current	20.6	23.4
Financing receivable, allowance for credit losses	$ 37.3	42.5
PSAs
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, period for uncollectible status	180 days
Financing receivable, allowance for credit loss	$ 46.3	54.1	54.3
Financing receivable, allowance for credit loss, current	14.5	16.9
Financing receivable, allowance for credit losses	$ 31.8	37.2
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	11.8	$ 12.5
Financing receivable, allowance for credit loss, current	6.1	6.5
Financing receivable, allowance for credit losses	$ 5.5	$ 5.3
Franchisee Notes | Maximum
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, payment terms	10 years

Financing and Trade Receivabl_4

Financing and Trade Receivables - Schedule of Accounts, Notes, Loans and Financing Receivable (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Gross current financing receivables:
Current financing receivables, gross	$ 111.9	$ 113.9
Allowance for credit losses:
Total allowance for credit losses	20.6	23.4
Net current financing receivables:
Total current financing receivables, net	91.3	90.5
Gross long-term financing receivables:
Long-term financing receivables, gross	286.5	284.2
Total allowance for credit losses	37.3	42.5
Total long-term financing receivables, net	249.2	241.7
PSAs
Gross current financing receivables:
Current financing receivables, gross	96.1	98.4
Allowance for credit losses:
Total allowance for credit losses	14.5	16.9
Net current financing receivables:
Total current financing receivables, net	81.6	81.5
Gross long-term financing receivables:
Long-term financing receivables, gross	223	219.7
Total allowance for credit losses	31.8	37.2
Total long-term financing receivables, net	191.2	182.5
Franchisee Notes
Gross current financing receivables:
Current financing receivables, gross	15.8	15.5
Allowance for credit losses:
Total allowance for credit losses	6.1	6.5
Net current financing receivables:
Total current financing receivables, net	9.7	9
Gross long-term financing receivables:
Long-term financing receivables, gross	63.5	64.5
Total allowance for credit losses	5.5	5.3
Total long-term financing receivables, net	$ 58	$ 59.2

Financing and Trade Receivabl_5

Financing and Trade Receivables - Financing Receivable Credit Quality Indicators (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
PSAs
Financing Receivable, Credit Quality Indicator [Line Items]
2022	$ 139.4
2021	95.3
2020	50.1
2019	23.9
2018	8
Prior	2.4
Total	319.1	$ 318.1
PSAs | Less than 400
Financing Receivable, Credit Quality Indicator [Line Items]
2022	12.7
2021	9.8
2020	4.9
2019	2.7
2018	0.8
Prior	0.2
Total	31.1
PSAs | 400-599
Financing Receivable, Credit Quality Indicator [Line Items]
2022	20
2021	14.6
2020	8.4
2019	4.1
2018	1.5
Prior	0.6
Total	49.2
PSAs | 600-799
Financing Receivable, Credit Quality Indicator [Line Items]
2022	41.1
2021	30.4
2020	16
2019	7.7
2018	2.7
Prior	0.9
Total	98.8
PSAs | 800+
Financing Receivable, Credit Quality Indicator [Line Items]
2022	65.6
2021	40.5
2020	20.8
2019	9.4
2018	3
Prior	0.7
Total	140
Franchisee Notes
Financing Receivable, Credit Quality Indicator [Line Items]
2022	18.8
2021	24.4
2020	10.7
2019	11
2018	5.8
Prior	8.6
Total	79.3
Franchisee Notes | Active distributors
Financing Receivable, Credit Quality Indicator [Line Items]
2022	18.7
2021	23.8
2020	9.1
2019	8.4
2018	4.5
Prior	4.5
Total	69
Franchisee Notes | Separated distributors
Financing Receivable, Credit Quality Indicator [Line Items]
2022	0.1
2021	0.6
2020	1.6
2019	2.6
2018	1.3
Prior	4.1
Total	$ 10.3

Financing and Trade Receivabl_6

Financing and Trade Receivables - Financing Receivable, Past Due (Details) - PSAs - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Financing Receivable, Past Due [Line Items]
Total	$ 319.1	$ 318.1
Greater than 90 days past due and accruing interest	6.4	6.5
30-59 days past due
Financing Receivable, Past Due [Line Items]
Total	3.4	3.3
60-90 days past due
Financing Receivable, Past Due [Line Items]
Total	1.7	1.7
Greater than 90 days past due
Financing Receivable, Past Due [Line Items]
Total	6.4	6.5
Total past due
Financing Receivable, Past Due [Line Items]
Total	11.5	11.5
Total not considered past due
Financing Receivable, Past Due [Line Items]
Total	$ 307.6	$ 306.6

Financing and Trade Receivabl_7

Financing and Trade Receivables - Financing Receivable, Allowance for Credit Loss (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses, beginning of year	$ 65.9	$ 66.8
Provision for credit losses	17.9	29.1
Write-offs	(27.7)	(33.1)
Recoveries of amounts previously charged off	1.8	3.1
Allowance for credit losses, end of period	57.9	65.9
PSAs
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses, beginning of year	54.1	54.3
Provision for credit losses	14.4	24.9
Write-offs	(23.9)	(27.5)
Recoveries of amounts previously charged off	1.7	2.4
Allowance for credit losses, end of period	46.3	54.1
Franchisee Notes
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses, beginning of year	11.8	12.5
Provision for credit losses	3.5	4.2
Write-offs	(3.8)	(5.6)
Recoveries of amounts previously charged off	0.1	0.7
Allowance for credit losses, end of period	$ 11.6	$ 11.8

Financing and Trade Receivabl_8

Financing and Trade Receivables - Accounts Receivable, Allowance for Credit Loss (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Credit Loss [Abstract]
Cost basis of trade accounts receivable	$ 433.6	$ 406.3
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	15.5	18.1
Provision for credit losses	3.3	7.7
Write-offs	(3.9)	(10.2)
Reclassification to held for sale	(0.3)	0
Foreign currency and other	(0.9)	(0.1)
Ending balance	13.7	15.5
Net trade accounts receivable balance	$ 419.9	$ 390.8

Goodwill - Schedule of Goodwill

Goodwill - Schedule of Goodwill (Details) $ in Millions	9 Months Ended
	Sep. 30, 2022 USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 1,667.2
Measurement period adjustments for prior year acquisition	(12.9)
Addition to goodwill for current year acquisitions (including measurement period adjustments)	182.4
Reclassification to held for sale	(56)
FX translation	(68.3)
Ending balance	$ 1,712.4

Goodwill - Narrative (Details)

Goodwill - Narrative (Details) - USD ($)	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Accumulated impairment charges	$ 85,300,000	$ 85,300,000
Impairment of goodwill	$ 0

Financing - Schedule of Debt (D

Financing - Schedule of Debt (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Total short-term borrowings	$ 7.7	$ 3.7
Total long-term debt	2,650	2,600
Less: discounts and debt issuance costs	(14.1)	(16.2)
Total long-term debt, net	2,635.9	2,583.8
India Credit Facility
Debt Instrument [Line Items]
Total short-term borrowings	1.7	1.5
Other short-term borrowings and bank overdrafts
Debt Instrument [Line Items]
Total short-term borrowings	6	2.2
Two-Year Term Loans due 2023
Debt Instrument [Line Items]
Total long-term debt	600	600
Three-Year Term Loans due 2024
Debt Instrument [Line Items]
Total long-term debt	400	400
1.800% Senior Unsecured Notes Due 2026
Debt Instrument [Line Items]
Total long-term debt	500	500
2.400% Senior Unsecured Notes Due 2028
Debt Instrument [Line Items]
Total long-term debt	500	500
2.950% Senior Unsecured Notes Due 2031
Debt Instrument [Line Items]
Total long-term debt	600	600
Revolving Credit Facility due 2026
Debt Instrument [Line Items]
Total long-term debt	$ 50	$ 0

Financing - Schedule of Debt -

Financing - Schedule of Debt - Footnotes (Details)	Sep. 30, 2022
1.800% Senior Unsecured Notes Due 2026
Debt Instrument [Line Items]
Stated interest rate (as a percent)	1.80%
2.400% Senior Unsecured Notes Due 2028
Debt Instrument [Line Items]
Stated interest rate (as a percent)	2.40%
2.950% Senior Unsecured Notes Due 2031
Debt Instrument [Line Items]
Stated interest rate (as a percent)	2.95%

Financing - Narrative (Details)

Financing - Narrative (Details)		9 Months Ended
	Oct. 28, 2022 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2022 INR (₨)	Dec. 31, 2021 USD ($)	Apr. 28, 2021 USD ($)	Mar. 10, 2021 USD ($)
Debt Instrument [Line Items]
Total long-term debt		$ 2,650,000,000		$ 2,600,000,000
Senior Notes | Significant Other Observable Inputs (Level 2)
Debt Instrument [Line Items]
Estimated fair value of notes		1,200,000,000
Revolving credit facility
Debt Instrument [Line Items]
Outstanding borrowings		$ 50,000,000
Revolving credit facility | Line of Credit | Revolving Credit Facility due 2026
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity					$ 750,000,000
Revolving credit facility | Line of Credit | Revolving Credit Facility due 2026 | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)		1.175%
Three-Year Term Loans due 2024
Debt Instrument [Line Items]
Total long-term debt		$ 400,000,000		400,000,000
Debt term		3 years
Debt instrument, interest rate		4.24%
Three-Year Term Loans due 2024 | Subsequent Event
Debt Instrument [Line Items]
Debt term	3 years
Three-Year Term Loans due 2024 | 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]
Total long-term debt		$ 400,000,000
Two Year Term Loans Due 2023
Debt Instrument [Line Items]
Debt term		2 years
Debt instrument, interest rate		3.87%
Two Year Term Loans Due 2023 | Subsequent Event
Debt Instrument [Line Items]
Debt term	2 years
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
Stated interest rate (as a percent)		1.80%	1.80%
1.800% Senior Unsecured Notes Due 2026 | Senior Notes
Debt Instrument [Line Items]
Aggregate principal amount of debt issued						$ 500,000,000
Stated interest rate (as a percent)						1.80%
Percent of principal issued						99.855%
2.400% Senior Unsecured Notes Due 2028
Debt Instrument [Line Items]
Total long-term debt		$ 500,000,000		500,000,000
Stated interest rate (as a percent)		2.40%	2.40%
2.400% Senior Unsecured Notes Due 2028 | Senior Notes
Debt Instrument [Line Items]
Aggregate principal amount of debt issued						$ 500,000,000
Stated interest rate (as a percent)						2.40%
Percent of principal issued						99.703%
2.950% Senior Unsecured Notes Due 2031
Debt Instrument [Line Items]
Total long-term debt		$ 600,000,000		$ 600,000,000
Stated interest rate (as a percent)		2.95%	2.95%
2.950% Senior Unsecured Notes Due 2031 | Senior Notes
Debt Instrument [Line Items]
Aggregate principal amount of debt issued						$ 600,000,000
Stated interest rate (as a percent)						2.95%
Percent of principal issued						99.791%
India Credit Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity		$ 10,400,000	₨ 850,000,000
Remaining borrowing capacity		$ 8,700,000
Effective interest rate (as a percent)		7%	7%
Three Year Delayed Draw Term Loan | Line of Credit | Subsequent Event
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 600,000,000

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2022	Jul. 01, 2022	Apr. 01, 2022	Oct. 01, 2021	Jul. 02, 2021	Apr. 02, 2021	Sep. 30, 2022	Oct. 01, 2021
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 502.7	$ 551.9	$ 573.7	$ 349.3	$ 268	$ 191.7	$ 573.7	$ 191.7
Other comprehensive income (loss) before reclassifications, net of income taxes	(44.7)			(7)			(122.9)	(24.7)
Amounts reclassified from accumulated other comprehensive income (loss):
Increase	0.1			0.2			0.3	0.4
Income tax impact	(0.1)						(0.1)	(0.1)
Amounts reclassified from accumulated other comprehensive income, net of income taxes	0			0.2			0.2	0.3
Total other comprehensive loss, net of income taxes	(44.7)	(63)	(15)	(6.8)	(2)	(15.6)	(122.7)	(24.4)
Ending balance	500	502.7	551.9	474.6	349.3	268	500	474.6
Accumulated Other Comprehensive Income/(loss)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	103.7	166.7	181.7	176.2	178.2	193.8	181.7	193.8
Amounts reclassified from accumulated other comprehensive income (loss):
Total other comprehensive loss, net of income taxes	(44.7)	(63)	(15)	(6.8)	(2)	(15.6)
Ending balance	59	103.7	166.7	169.4	176.2	178.2	59	169.4
Foreign currency translation adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	106.7		184.9	180.6		198.3	184.9	198.3
Other comprehensive income (loss) before reclassifications, net of income taxes	(44.7)			(7)			(122.9)	(24.7)
Amounts reclassified from accumulated other comprehensive income (loss):
Increase	0			0			0	0
Income tax impact	0						0	0
Amounts reclassified from accumulated other comprehensive income, net of income taxes	0			0			0	0
Total other comprehensive loss, net of income taxes	(44.7)			(7)			(122.9)	(24.7)
Ending balance	62	106.7		173.6	180.6		62	173.6
Other adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(3)		$ (3.2)	(4.4)		$ (4.5)	(3.2)	(4.5)
Other comprehensive income (loss) before reclassifications, net of income taxes	0			0			0	0
Amounts reclassified from accumulated other comprehensive income (loss):
Increase	0.1			0.2			0.3	0.4
Income tax impact	(0.1)						(0.1)	(0.1)
Amounts reclassified from accumulated other comprehensive income, net of income taxes	0			0.2			0.2	0.3
Total other comprehensive loss, net of income taxes	0			0.2			0.2	0.3
Ending balance	$ (3)	$ (3)		$ (4.2)	$ (4.4)		$ (3)	$ (4.2)

Sales - Contract Assets and Cos

Sales - Contract Assets and Costs (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Capitalized Contract Cost [Line Items]
Contract assets	$ 12.6	$ 10.4
Deferred Sales Commissions
Capitalized Contract Cost [Line Items]
Net revenue-related contract assets	$ 75.7	$ 78.4
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
	Sep. 30, 2022	Sep. 30, 2022	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Deferred revenue - current	$ 141.8	$ 141.8	$ 133.7
Deferred revenue - noncurrent	48.4	48.4	56.3
Total contract liabilities	190.2	190.2	$ 190
Contract liabilities, revenue recognized	$ 22.8	$ 102.1

Sales - Remaining Performance O

Sales - Remaining Performance Obligation (Details) $ in Millions	Sep. 30, 2022 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 348.7
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-01 | Next two years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percentage	35%
Remaining performance obligation, expected timing	2 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-01 | Next three years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percentage	65%
Remaining performance obligation, expected timing	3 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-01 | 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
	Sep. 30, 2022	Oct. 01, 2021	Sep. 30, 2022	Oct. 01, 2021
Disaggregation of Revenue [Line Items]
Sales	$ 788	$ 768.5	$ 2,312.5	$ 2,200.5
Sales of products
Disaggregation of Revenue [Line Items]
Sales	707.7	699.7	2,080.5	2,005.1
Mobility technologies
Disaggregation of Revenue [Line Items]
Sales	605.6	588.6	1,746.5	1,641.6
Diagnostics and repair technologies
Disaggregation of Revenue [Line Items]
Sales	182.4	179.9	566	558.9
Sales of services
Disaggregation of Revenue [Line Items]
Sales	80.3	68.8	232	195.4
Retail fueling hardware
Disaggregation of Revenue [Line Items]
Sales	213.5	243.6	608.8	648.9
Auto repair
Disaggregation of Revenue [Line Items]
Sales	158.3	156.1	492.8	485.2
Service and other recurring revenue
Disaggregation of Revenue [Line Items]
Sales	118.7	118	362.7	361.4
Environmental
Disaggregation of Revenue [Line Items]
Sales	68	73.3	204.3	198.4
Retail solutions
Disaggregation of Revenue [Line Items]
Sales	154.3	96.4	415.6	285.1
Software-as-a-service
Disaggregation of Revenue [Line Items]
Sales	42.9	45.7	131.8	139.2
Alternative energy
Disaggregation of Revenue [Line Items]
Sales	21.6	21.7	61.5	43.6
Smart cities
Disaggregation of Revenue [Line Items]
Sales	8.5	9.6	27.8	26.7
Other
Disaggregation of Revenue [Line Items]
Sales	2.2	4.1	7.2	12
North America
Disaggregation of Revenue [Line Items]
Sales	603.2	547	1,746.5	1,568.2
Western Europe
Disaggregation of Revenue [Line Items]
Sales	48.3	68.7	168.1	191.3
High growth markets
Disaggregation of Revenue [Line Items]
Sales	101.5	115.8	299.4	337.1
Rest of world
Disaggregation of Revenue [Line Items]
Sales	35	37	98.5	103.9
United States
Disaggregation of Revenue [Line Items]
Sales	$ 567.4	$ 526.7	$ 1,672.4	$ 1,513.3

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Oct. 01, 2021	Sep. 30, 2022	Oct. 01, 2021
Income Tax Disclosure [Abstract]
Effective tax rate (as a percent)	26.20%	19.60%	21.80%	22.20%

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Oct. 01, 2021	Sep. 30, 2022	Oct. 01, 2021
Leases [Abstract]
Operating lease cost	$ 5.2	$ 5.3	$ 16.4	$ 15.8
Cash paid for operating leases			14.7	14.1
ROU assets obtained in exchange for operating lease obligations			$ 7.7	$ 15.7

Litigation and Contingencies -

Litigation and Contingencies - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Loss Contingencies [Line Items]
Warranty period	90 days
Standby letters of credit, bank guarantees, and performance and bid bonds
Loss Contingencies [Line Items]
Guarantees	$ 86.7	$ 92.6
Asbestos Claims
Loss Contingencies [Line Items]
Liabilities associated with future expected cases	73.8	79
Projected insurance recoveries	37.8	45
Accrued expenses and other current liabilities | Asbestos Claims
Loss Contingencies [Line Items]
Liabilities associated with future expected cases	14.2	21.5
Other long-term liabilities | Asbestos Claims
Loss Contingencies [Line Items]
Liabilities associated with future expected cases	59.6	57.5
Prepaid expenses and other current assets | Asbestos Claims
Loss Contingencies [Line Items]
Projected insurance recoveries	7.5	14.8
Other assets | Asbestos Claims
Loss Contingencies [Line Items]
Projected insurance recoveries	$ 30.3	$ 30.2

Litigation and Contingencies _2

Litigation and Contingencies - Rollforward of Accrued Warranty Liability (Details) $ in Millions	9 Months Ended
	Sep. 30, 2022 USD ($)
Movement in Standard Product Warranty Accrual [Roll Forward]
Beginning balance	$ 49.4
Accruals for warranties issued during the period	22.7
Settlements made	(24.9)
Additions due to acquisition	0.5
Effect of foreign currency translation	(0.9)
Reclassification to held for sale	(1.3)
Ending balance	$ 45.5

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities measured at fair value	$ 67.1	$ 0
Gain (loss) on sale of other investments	2.7
Goodwill	1,712.4	1,667.2
Other intangible assets, net	670.8	615.9
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities measured at fair value	67.1
Earn-out liabilities	14
Deferred compensation liabilities	4.9	4.8
Fair Value, Measurements, Recurring | Quoted Prices in Active Market (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities measured at fair value	67.1
Earn-out liabilities	0
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]
Equity securities measured at fair value	0
Earn-out liabilities	0
Deferred compensation liabilities	4.9	4.8
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities measured at fair value	0
Earn-out liabilities	14
Deferred compensation liabilities	$ 0	$ 0

Related Party Transactions - Na

Related Party Transactions - Narrative (Details) - Fortive $ in Millions	9 Months Ended
	Oct. 01, 2021 USD ($)
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 ($) $ / shares in Units, $ in Millions	1 Months Ended	3 Months Ended			8 Months Ended	9 Months Ended
	Feb. 28, 2022	Sep. 30, 2022	Jul. 01, 2022	Apr. 01, 2022	Sep. 30, 2022	Sep. 30, 2022	May 24, 2022	Dec. 31, 2021
Equity, Class of Treasury Stock [Line Items]
Common stock, authorized (in shares)		1,985,000,000			1,985,000,000	1,985,000,000		1,985,000,000
Common stock, par value (in dollars per share)		$ 0.0001			$ 0.0001	$ 0.0001		$ 0.0001
Preferred stock, authorized (in shares)		15,000,000			15,000,000	15,000,000		15,000,000
Preferred stock, par value (in dollars per share)		$ 0			$ 0	$ 0		$ 0
Authorized repurchase amount							$ 500
Accelerated share repurchase program, amount repurchased	$ 250
Stock repurchased (in shares)	8,200,000	1,800,000			10,000,000
Stock repurchased (in dollars per share)						$ 25.11
Stock repurchased		$ 10	$ 21	$ 257
Remaining authorized repurchase amount		$ 469			$ 469	$ 469
Open Market Transactions
Equity, Class of Treasury Stock [Line Items]
Stock repurchased (in shares)						1,600,000
Stock repurchased (in dollars per share)						$ 23.02
Stock repurchased						$ 38

Capitalization and Earnings P_4

Capitalization and Earnings Per Share - Schedule pf Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2022	Jul. 01, 2022	Apr. 01, 2022	Oct. 01, 2021	Jul. 02, 2021	Apr. 02, 2021	Sep. 30, 2022	Oct. 01, 2021
Numerator:
Net earnings	$ 50.1	$ 33.3	$ 250.2	$ 127.3	$ 82.3	$ 91	$ 333.6	$ 300.6
Denominator:
Basic weighted average common shares outstanding (in shares)	158.2			169.1			161.5	168.9
Effect of dilutive stock options and RSUs (in shares)	0.5			1.2			0.7	1.1
Diluted weighted average common shares outstanding (in shares)	158.7			170.3			162.2	170
Earnings per share:
Basic (in dollars per share)	$ 0.32			$ 0.75			$ 2.07	$ 1.78
Diluted (in dollars per share)	$ 0.32			$ 0.75			$ 2.06	$ 1.77
Anti-dilutive shares (in shares)	3.4			1.6			3.3	2.5

Assets and Liabilities Held f_3

Assets and Liabilities Held for Sale - Schedule of Key Components of Discontinued Operations (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
LIABILITIES
Current operating lease liabilities	$ 12.3	$ 12.8
Disposal Group, Held-for-sale, Not Discontinued Operations | Global Traffic Technologies And Hennessy
ASSETS
Accounts receivable, net	21.3
Inventories	16.4
Other current assets	1.7
Property, plant and equipment, net	9.1
Operating lease right-of-use assets	0.4
Other intangible assets, net	28.7
Goodwill	56
Other assets	5.1
Total assets held for sale	138.7
LIABILITIES
Trade accounts payable	14.4
Current operating lease liabilities	0.4
Accrued expenses and other current liabilities	14.6
Other long-term liabilities	10
Total liabilities held for sale	$ 39.4

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ in Millions		9 Months Ended
	Oct. 28, 2022	Sep. 30, 2022
Two Year Term Loans Due 2023
Subsequent Event [Line Items]
Debt term		2 years
Two Year Term Loans Due 2023 | Subsequent Event
Subsequent Event [Line Items]
Debt term	2 years
Three Year Delayed Draw Term Loan | Subsequent Event | Line of Credit
Subsequent Event [Line Items]
Line of credit facility, maximum borrowing capacity	$ 600
Three-Year Term Loans due 2024
Subsequent Event [Line Items]
Debt term		3 years
Three-Year Term Loans due 2024 | Subsequent Event
Subsequent Event [Line Items]
Debt term	3 years