Veralto (VLTO) 10-Q 26 Oct 23 2023 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 29, 2023	Oct. 20, 2023
Cover [Abstract]
Document type	10-Q
Document quarterly report	true
Document period end date	Sep. 29, 2023
Document transition report	false
Entity file number	001-41770
Entity registrant name	VERALTO CORPORATION
Entity incorporation, state code	DE
Entity tax identification number	92-1941413
Entity address, address line one	225 Wyman Street, Suite 250
Entity address, city	Waltham,
Entity address, state	MA
Entity address, postal zip code	02451
City area code	781
Local phone number	755-3655
Title of 12(b) security	Common stock, $0.01 par value
Trading symbol	VLTO
Security exchange name	NYSE
Entity current reporting status	No
Entity interactive data current	Yes
Entity filer category	Non-accelerated Filer
Entity small business	false
Entity emerging growth company	false
Entity shell company	false
Entity common stock, shares outstanding		246,308,057
Amendment flag	false
Document fiscal year focus	2023
Document fiscal period focus	Q3
Current fiscal year end date	--12-31
Entity central index key	0001967680

Combined Condensed Balance Shee

Combined Condensed Balance Sheets - USD ($) $ in Millions	Sep. 29, 2023	Dec. 31, 2022
Current assets:
Cash and equivalents	$ 426	$ 0
Trade accounts receivable, less allowance for doubtful accounts of $36 and $34, respectively	816	816
Inventories:
Finished goods	134	145
Work in process	45	51
Raw materials	137	149
Total inventories	316	345
Prepaid expenses and other current assets	102	119
Total current assets	1,660	1,280
Property, plant and equipment, net of accumulated depreciation of $462 and $460, respectively	248	247
Other long-term assets	339	343
Goodwill	2,480	2,476
Other intangible assets, net	433	479
Total assets	5,160	4,825
Current liabilities:
Trade accounts payable	354	440
Accrued expenses and other liabilities	680	683
Total current liabilities	1,034	1,123
Other long-term liabilities	479	462
Long-term debt	2,604	0
Parent’s equity:
Preferred stock	0	0
Common stock	2	0
Net Parent investment	2,021	4,189
Accumulated other comprehensive income (loss)	(985)	(954)
Total Parent’s equity	1,038	3,235
Noncontrolling interests	5	5
Total equity	1,043	3,240
Total liabilities and equity	$ 5,160	$ 4,825

Combined Condensed Balance Sh_2

Combined Condensed Balance Sheets (Parenthetical) - USD ($) $ in Millions	Sep. 29, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 36	$ 34
Property, plant and equipment, accumulated depreciation	$ 462	$ 460
Preferred stock, par value (in usd per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	15,000,000	100
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	1,000,000,000	100
Common stock, shares issued (in shares)	246,300,000	100
Common stock, shares outstanding (in shares)	246,300,000	100

Combined Condensed Statements o

Combined Condensed Statements of Earnings - USD ($) shares in Thousands, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2023	Sep. 30, 2022	Sep. 29, 2023	Sep. 30, 2022
Income Statement [Abstract]
Sales	$ 1,255	$ 1,219	$ 3,733	$ 3,622
Cost of sales	(532)	(525)	(1,578)	(1,573)
Gross profit	723	694	2,155	2,049
Operating costs:
Selling, general and administrative expenses	(395)	(357)	(1,133)	(1,067)
Research and development expenses	(55)	(52)	(168)	(164)
Operating profit	273	285	854	818
Nonoperating income (expense):
Other income (expense), net	0	0	(14)	0
Interest expense	(5)	0	(5)	0
Earnings before income taxes	268	285	835	818
Income taxes	(63)	(67)	(196)	(189)
Net earnings	$ 205	$ 218	$ 639	$ 629
Net earnings per common share:
Basic (in usd per share)	$ 0.83	$ 0.89	$ 2.59	$ 2.55
Diluted (in usd per share)	$ 0.83	$ 0.89	$ 2.59	$ 2.55
Average common stock and common equivalent shares outstanding:
Basic (in shares)	246,300	246,300	246,300	246,300
Diluted (in shares)	246,300	246,300	246,300	246,300

Combined Condensed Statements_2

Combined Condensed Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2023	Sep. 30, 2022	Sep. 29, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Net earnings	$ 205	$ 218	$ 639	$ 629
Other comprehensive income (loss), net of income taxes:
Foreign currency translation adjustments	(62)	(97)	(34)	(212)
Pension and post-retirement plan benefit adjustments	0	0	0	1
Unrealized gain on net investment hedge	3	0	3	0
Total other comprehensive income (loss), net of income taxes	(59)	(97)	(31)	(211)
Comprehensive income	$ 146	$ 121	$ 608	$ 418

Combined Condensed Statements_3

Combined Condensed Statements of Equity - USD ($) shares in Thousands, $ in Millions	Total	Common stock	Net Parent Investment	Accumulated other comprehensive income (loss)	Parent	Noncontrolling interests
Balance, beginning of period at Dec. 31, 2021			$ 4,084	$ (887)	$ 3,197	$ 4
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings for the period	$ 629		629		629
Net transfers to Parent			(456)		(456)
Other comprehensive income (loss)	(211)			(211)	(211)
Parent common stock-based award activity			30		30
Change in noncontrolling interests						1
Balance, end of period at Sep. 30, 2022			4,287	(1,098)	3,189	5
Balance, beginning of period at Jul. 01, 2022			4,275	(1,001)	3,274	5
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings for the period	218		218		218
Net transfers to Parent			(214)		(214)
Other comprehensive income (loss)	(97)			(97)	(97)
Parent common stock-based award activity			8		8
Balance, end of period at Sep. 30, 2022			4,287	(1,098)	3,189	5
Balance, beginning of period at Dec. 31, 2022	3,240	$ 0	4,189	(954)	3,235	5
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings for the period	639		639		639
Recapitalization (in shares)		246,300
Recapitalization		$ 2	(2)
Consideration paid to Parent in connection with Separation			(2,600)		(2,600)
Net transfers to Parent			(240)		(240)
Other comprehensive income (loss)	(31)			(31)	(31)
Parent common stock-based award activity			35		35
Balance, end of period (in shares) at Sep. 29, 2023		246,300
Balance, end of period at Sep. 29, 2023	1,043	$ 2	2,021	(985)	1,038	5
Balance, beginning of period at Jun. 30, 2023		$ 0	4,207	(926)	3,281	5
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings for the period	205		205		205
Recapitalization (in shares)		246,300
Recapitalization		$ 2	(2)		0
Consideration paid to Parent in connection with Separation			(2,600)		(2,600)
Net transfers to Parent			198		198
Other comprehensive income (loss)	(59)			(59)	(59)
Parent common stock-based award activity			13		13
Balance, end of period (in shares) at Sep. 29, 2023		246,300
Balance, end of period at Sep. 29, 2023	$ 1,043	$ 2	$ 2,021	$ (985)	$ 1,038	$ 5

Combined Condensed Statements_4

Combined Condensed Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 29, 2023	Sep. 30, 2022
Cash flows from operating activities:
Net earnings	$ 639	$ 629
Noncash items:
Depreciation	29	31
Amortization of intangible assets	36	38
Stock-based compensation expense	35	30
Impairment of equity method investment	15	0
Change in trade accounts receivable, net	(2)	(100)
Change in inventories	28	(70)
Change in trade accounts payable	(85)	(13)
Change in prepaid expenses and other assets	(1)	1
Change in accrued expenses and other liabilities	6	(13)
Net cash provided by operating activities	700	533
Cash flows from investing activities:
Cash paid for acquisitions	0	(51)
Payments for additions to property, plant and equipment	(32)	(26)
Proceeds from sales of property, plant and equipment	2	0
All other investing activities	(3)	0
Net cash used in investing activities	(33)	(77)
Cash flows from financing activities:
Net proceeds from borrowings (maturities longer than 90 days)	2,608	0
Consideration paid to Parent in connection with Separation	(2,600)	0
Net transfers to Parent	(240)	(456)
Net cash used in financing activities	(232)	(456)
Effect of exchange rate changes on cash and equivalents	(9)	0
Net change in cash and equivalents	426	0
Beginning balance of cash and equivalents	0	0
Ending balance of cash and equivalents	$ 426	$ 0

General

General	9 Months Ended
	Sep. 29, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
General	GENERAL On August 24, 2023, the Board of Directors of Danaher Corporation (“Danaher” or “Parent”) approved the separation of Danaher’s Environmental & Applied Solutions segment through the pro rata distribution of all of the issued and outstanding common stock of Veralto Corporation (“Veralto” or the “Company”) to Danaher's stockholders (the “Separation”). In connection with the Separation, on September 20, 2023, the net assets of the Veralto businesses were contributed to Veralto, a wholly-owned subsidiary of the Parent, and, as partial consideration for such contribution the Company made a cash payment to Danaher in the amount of $2.6 billion. In addition, on September 29, 2023, the 100 shares of Veralto common stock held by Danaher were recapitalized into 246,291,342 shares of Veralto common stock held by Danaher. All per share amounts in the Combined Condensed Statements of Earnings have been retroactively adjusted to give effect to this recapitalization. Veralto’s Registration Statement on Form 10, as amended, was declared effective by the U.S. Securities and Exchange Commission (“SEC”) on September 11, 2023. In connection with the Separation, on September 29, 2023, Danaher and Veralto entered into a separation and distribution agreement as well as various other related agreements (collectively the “Agreements”) that govern the Separation and the relationships between the parties going forward, including a transition services agreement, employee matters agreement, tax matters agreement, an intellectual property matters agreement, a Danaher Business System (“DBS”) license agreement, and a framework agreement governing certain commercial arrangements between subsidiaries of Danaher and Veralto. In accordance with the tax matters agreement, Danaher is retaining certain net tax liabilities that are subject to joint and several liability between Danaher and the Company with respect to the taxable periods (or portions thereof) ended on or prior to September 29, 2023. Veralto completed its separation from Danaher on September 30, 2023, the first day of its fiscal fourth quarter. The Separation was completed on such date in the form of a pro rata distribution to Danaher stockholders of record on September 13, 2023 of all of the issued and outstanding shares of Veralto common stock held by Danaher. Each Danaher stockholder of record as of the close of business on September 13, 2023 received one share of Veralto common stock for every three shares of Danaher common stock held on the record date. Because September 30, 2023 was a Saturday, not a business day, the shares were credited to “street name” stockholders through the Depository Trust Company on the first trading day thereafter, October 2, 2023. Veralto’s common stock began “regular way” trading on the New York Stock Exchange under the ticker symbol “VLTO” on October 2, 2023. The accompanying Combined Condensed Financial Statements present the historical financial position, results of operations, changes in Danaher’s equity and cash flows of the Veralto businesses in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for the preparation of carved-out combined financial statements. The Company has historically operated as part of Parent and not as a separate, publicly-traded company. The financial statements have been derived from Parent’s historical accounting records and are presented on a carve-out basis. All revenues and costs as well as assets and liabilities directly associated with the business activity of the Company are included as a component of the financial statements. The financial statements also include allocations of certain general, administrative, sales and marketing expenses from Parent’s corporate office to the Company and Parent’s investment, as applicable. The allocations have been determined on a reasonable basis; however, the amounts are not necessarily representative of the amounts that would have been reflected in the financial statements had the Company been an entity that operated independently of Parent. Related-party allocations are discussed further in Note 14. Net Parent investment, which includes retained earnings, represents Parent’s interest in the recorded net assets of the Company. All significant transactions between the Company and Parent have been included in the accompanying Combined Condensed Financial Statements. Transactions with Parent are reflected in the accompanying Combined Condensed Statements of Changes in Equity as “Net transfers to Parent” and in the accompanying Combined Condensed Balance Sheets within “Net Parent investment.” The Company’s unifying purpose is Safeguarding the World’s Most Vital Resources TM . Our diverse group of associates and leading operating companies provide essential technology solutions that monitor, enhance and protect key resources around the globe. The Company is committed to the advancement of public health and safety and believes it is positioned to support its customers as they address large global challenges including environmental resource sustainability, water scarcity, management of severe weather events, food and pharmaceutical security, and the impact of an aging workforce. Through its core offerings in water analytics, water treatment, marking and coding and packaging and color, customers look to the Company’s solutions to help ensure the safety, quality, efficiency and reliability of their products, processes and people globally. The Company operates through two segments – Water Quality and Product Quality & Innovation. Through the Water Quality segment, the Company improves the quality and reliability of water through leading brands including Hach, Trojan Technologies and ChemTreat. Through the Product Quality & Innovation segment, the Company promotes consumer trust in products and helps enable product innovation through leading brands including Videojet, Linx, Esko, X-Rite and Pantone. Before the Separation, the Company was dependent upon Danaher for all of its working capital and financing requirements under Danaher’s centralized approach to cash management and financing of operations of its subsidiaries. Because the Company was part of Danaher during the three and nine-months ended September 29, 2023, only cash, cash equivalents and borrowings clearly associated with Veralto and related to the Separation have been included in these Combined Condensed Financial Statements. Other financial transactions relating to the business operations of the Company during the period were accounted for through the Net Parent investment account of the Company. All significant intercompany accounts and transactions between the businesses comprising the Company have been eliminated in the accompanying Combined Condensed Financial Statements. The Combined Condensed Financial Statements included herein have been prepared by the Company without audit, pursuant to the rules and regulations of the SEC. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to SEC rules and regulations; however, the Company believes that the disclosures are adequate to make the information presented not misleading. The Combined Condensed Financial Statements included herein should be read in conjunction with the Combined Financial Statements as of and for the year ended December 31, 2022 and the Notes thereto included within the Information Statement filed as Exhibit 99.1 to the Company’s Current Report on Form 8-K with the SEC on October 2, 2023 (the “Information Statement”). In the opinion of the Company, the accompanying financial statements contain all adjustments (consisting of only normal recurring accruals) necessary to present fairly the financial position of the Company as of September 29, 2023 and December 31, 2022, its results of operations for the three and nine-month periods ended September 29, 2023 and September 30, 2022 and its cash flows for each of the nine-month periods then ended. The Combined Condensed Financial Statements may not be indicative of future performance and do not necessarily reflect what the Combined Condensed Statements of Earnings, Balance Sheets and Statements of Cash Flows would have been had the Company operated as a separate business during the periods presented. There have been no changes to the Company’s significant accounting policies described within the Information Statement that have a material impact on the Company’s Combined Condensed Financial Statements and the related Notes. In August 2023, the FASB issued ASU 2023-05, Business Combinations—Joint Venture Formations (Subtopic 805-60): Recognition and Initial Measurement. The ASU requires that a joint venture apply a new basis of accounting upon formation in which the joint venture will recognize and initially measure its assets and liabilities at fair value (with exceptions to fair value measurement that are consistent with the business combinations guidance). The ASU is effective prospectively for all joint venture formations with a formation date on or after January 1, 2025, with early adoption permitted. The Company early adopted the ASU effective September 29, 2023 on a prospective basis with no impact to the financial statements and related disclosures. Cash and Equivalents —The Company considers all highly liquid investments with a maturity of three months or less at the date of purchase to be cash equivalents. The cash balance presented on the Combined Condensed Balance Sheet as of September 29, 2023 of $426 million represents amounts clearly associated with Veralto related to the contribution of the Veralto businesses to the Company on September 29, 2023, as described above. Operating Leases —As of September 29, 2023 and December 31, 2022, operating lease right-of-use assets where the Company was the lessee were $128 million and $117 million, respectively, and are included within other long-term assets in the accompanying Combined Condensed Balance Sheets. The associated operating lease liabilities were $132 million and $123 million as of September 29, 2023 and December 31, 2022, respectively, and are included in accrued expenses and other liabilities and other long-term liabilities. Prepaid Expenses and Other Current Assets —Prepaid expenses and other current assets primarily result from advance payments to vendors for good and services and are capitalized until the related goods are received or services are performed. Included in the Company’s prepaid expenses and other current assets as of September 29, 2023 and December 31, 2022 are prepaid expenses of $88 million and $102 million, respectively.

Capital Stock and Net Earnings

Capital Stock and Net Earnings per Common Share	9 Months Ended
	Sep. 29, 2023
Earnings Per Share [Abstract]
Capital Stock and Net Earnings per Common Share	CAPITAL STOCK AND NET EARNINGS PER COMMON SHARE Capital Stock Under Veralto’s amended and restated certificate of incorporation, as of September 29, 2023, Veralto’s authorized capital stock consists of 1.0 billion common shares with par value $0.01 per share and 15 million preferred shares with par value $0.01 per share. On September 29, 2023, the 100 shares of Veralto common stock held by Danaher were recapitalized into 246,291,342 shares of Veralto common stock held by Danaher. On September 30, 2023, Danaher distributed all of Veralto’s issued and outstanding common stock to Danaher’s stockholders. No preferred shares were issued or outstanding on September 29, 2023. Each share of Veralto common stock entitles the holder to one vote on all matters to be voted upon by common stockholders. Veralto’s Board of Directors (the “Board”) is authorized to issue shares of preferred stock in one or more series and has discretion to determine the rights, preferences, privileges and restrictions, including voting rights, dividend rights, conversion rights, redemption privileges and liquidation preferences, of each series of preferred stock. The Board’s authority to issue preferred stock with voting rights or conversion rights that, if exercised, could adversely affect the voting power of the holders of common stock, could potentially discourage attempts by third parties to obtain control of Veralto through certain types of takeover practices. Earnings per Common Share Basic net earnings per share (“EPS”) is calculated by dividing net earnings by the weighted average number of shares of common stock outstanding for the applicable period. Diluted EPS is computed based on the weighted average number of common shares outstanding increased by the number of additional shares that would have been outstanding had the potentially dilutive common shares been issued and reduced by the number of shares the Company could have repurchased with the proceeds from the issuance of the potentially dilutive shares.

Revenue

Revenue	9 Months Ended
	Sep. 29, 2023
Revenue from Contract with Customer [Abstract]
Revenue	REVENUE The following tables present the Company’s revenues disaggregated by geographical region and revenue type for the three and nine-month periods ended September 29, 2023 and September 30, 2022 ($ in millions) . Sales taxes and other usage-based taxes collected from customers are excluded from revenue. Water Quality Product Quality & Innovation Total For the Three-Month Period Ended September 29, 2023: Geographical region: North America (a) $ 438 $ 162 $ 600 Western Europe 131 141 272 Other developed markets (b) 18 12 30 High-growth markets (c) 185 168 353 Total $ 772 $ 483 $ 1,255 Revenue type: Recurring (Consumables, services and spare parts) $ 438 $ 306 $ 744 Nonrecurring (Equipment) 334 177 511 Total $ 772 $ 483 $ 1,255 For the Three-Month Period Ended September 30, 2022: Geographical region: North America (a) $ 414 $ 166 $ 580 Western Europe 116 126 242 Other developed markets (b) 15 13 28 High-growth markets (c) 196 173 369 Total $ 741 $ 478 $ 1,219 Revenue type: Recurring (Consumables, services and spare parts) $ 442 $ 290 $ 732 Nonrecurring (Equipment) 299 188 487 Total $ 741 $ 478 $ 1,219 Water Quality Product Quality & Innovation Total For the Nine-Month Period Ended September 29, 2023: Geographical region: North America (a) $ 1,265 $ 493 $ 1,758 Western Europe 396 439 835 Other developed markets (b) 51 39 90 High-growth markets (c) 545 505 1,050 Total $ 2,257 $ 1,476 $ 3,733 Revenue type: Recurring (Consumables, services and spare parts) $ 1,297 $ 913 $ 2,210 Nonrecurring (Equipment) 960 563 1,523 Total $ 2,257 $ 1,476 $ 3,733 For the Nine-Month Period Ended September 30, 2022: Geographical region: North America (a) $ 1,183 $ 505 $ 1,688 Western Europe 365 416 781 Other developed markets (b) 49 44 93 High-growth markets (c) 534 526 1,060 Total $ 2,131 $ 1,491 $ 3,622 Revenue type: Recurring (Consumables, services and spare parts) $ 1,247 $ 900 $ 2,147 Nonrecurring (Equipment) 884 591 1,475 Total $ 2,131 $ 1,491 $ 3,622 (a) The Company defines North America as the United States and Canada. (b ) The Company defines other developed markets as Japan, Australia and New Zealand. (c) The Company defines high-growth markets as developing markets of the world experiencing extended periods of accelerated growth in gross domestic product and infrastructure which encompass all markets outside of the developed markets and consist of Eastern Europe, the Middle East, Africa, Latin America (including Mexico) and Asia (with the exception of Japan, Australia and New Zealand). The Company defines developed markets as all markets of the world that are not high-growth markets. The Company sells equipment to customers as well as consumables and services, some of which customers purchase on a recurring basis. Consumables sold for use with the equipment sold by the Company are typically critical to the use of the equipment and are typically used on a one-time or limited basis, requiring frequent replacement in the customer’s operating cycle. Examples of these consumables include chemistries for water testing instruments and cartridges for marking and coding equipment. Additionally, some of the Company’s consumables are used on a standalone basis, such as water treatment solutions. The Company separates its goods and services between those typically sold to a customer on a recurring basis and those typically sold to a customer on a nonrecurring basis. Recurring revenue includes revenue from consumables, services and operating-type leases (“OTLs”). Nonrecurring revenue includes sales of equipment and sales-type leases (“STLs”). OTLs and STLs are included in the above revenue amounts. For the three-month periods ended September 29, 2023 and September 30, 2022, lease revenue was $24 million and $19 million, respectively. For the nine-month periods ended September 29, 2023 and September 30, 2022, lease revenue was $63 million and $50 million, respectively. Service and software revenue was immaterial for all periods presented. Software revenues for a point-in-time licenses are nonrecurring while revenues for Software as a Service and over time licenses are recurring. Remaining performance obligations related to Topic 606, Revenue from Contracts with Customers, represent the aggregate transaction price allocated to performance obligations with an original contract term greater than one year which are fully or partially unsatisfied at the end of the period. As of September 29, 2023, the aggregate amount of the transaction price allocated to remaining performance obligations was $286 million. The Company expects to recognize revenue on approximately 43% of the remaining performance obligations over the next 12 months, 35% over the subsequent 12 months, and the remainder recognized thereafter.

Segment Information

Segment Information	9 Months Ended
	Sep. 29, 2023
Segment Reporting [Abstract]
Segment Information	SEGMENT INFORMATION The Company operates and reports its results in two separate business segments consisting of the Water Quality and Product Quality & Innovation s egments . When determining the reportable segments, the Company aggregated operating segments based upon similar economic and operating characteristics. Operating profit represents total revenues less operating expenses, excluding nonoperating income and expense, interest and income taxes. Operating profit amounts in the Other segment consist of unallocated corporate costs and other costs not considered part of management’s evaluation of reportable segment operating performance. Intersegment amounts are not significant and are eliminated to arrive at combined totals. Segment results are shown below ($ in millions): Three-Month Period Ended Nine-Month Period Ended September 29, 2023 September 30, 2022 September 29, 2023 September 30, 2022 Sales: Water Quality $ 772 $ 741 $ 2,257 $ 2,131 Product Quality & Innovation 483 478 1,476 1,491 Total $ 1,255 $ 1,219 $ 3,733 $ 3,622 Operating profit: Water Quality $ 188 $ 185 $ 536 $ 485 Product Quality & Innovation 99 109 356 364 Other (14) (9) (38) (31) Total $ 273 $ 285 $ 854 $ 818

Income Taxes

Income Taxes	9 Months Ended
	Sep. 29, 2023
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES The following table summarizes the Company’s effective tax rate: Three-Month Period Ended Nine-Month Period Ended September 29, 2023 September 30, 2022 September 29, 2023 September 30, 2022 Effective tax rate 23.5 % 23.5 % 23.5 % 23.1 % The Company operates globally, including in certain jurisdictions with higher statutory tax rates than the United States (“U.S.”). Therefore, based on earnings mix, the impact of operating in such jurisdictions contributes to a higher effective tax rate compared to the U.S. federal statutory tax rate. The effective tax rate for the three-month period ended September 29, 2023 differs from the U.S. federal statutory rate of 21% principally due the geographic mix of earnings described above, partially offset by net discrete benefits of $6 million related primarily to excess tax benefits from stock-based compensation and changes in estimates associated with prior period uncertain tax positions. The net discrete benefits reduced the effective tax rate by 2.2% for the three-month period ended September 29, 2023. The effective tax rate for the nine-month period ended September 29, 2023 differs from the U.S. federal statutory rate of 21% principally due the geographic mix of earnings described above, partially offset by net discrete benefits of $12 million related primarily to excess tax benefits from stock-based compensation. The net discrete benefits reduced the effective tax rate by 1.4% for the nine-month period ended September 29, 2023. The effective tax rate for the three-month period ended September 30, 2022 differs from the U.S. federal statutory rate of 21% principally due to geographic mix of earnings described above, partially offset by net discrete benefits of $3 million related primarily to excess tax benefits from stock-based compensation and changes in estimates associated with prior period uncertain tax positions. These net discrete benefits reduced the effective tax rate by 1.1% for the three-month period ended September 30, 2022. The effective tax rate for the nine-month period ended September 30, 2022 differs from the U.S. federal statutory rate of 21% principally due the geographic mix of earnings described above, partially offset by net discrete benefits of $11 million related primarily to excess tax benefits from stock-based compensation and changes in estimates associated with prior period uncertain tax positions. The net discrete benefits reduced the effective tax rate by 1.3% for the nine-month period ended September 30, 2022. For a description of the Company’s significant tax matters, reference is made to the financial statements as of and for the year ended December 31, 2022 and Note 5 to the financial statements included within the Information Statement.

Nonoperating Income (Expense)

Nonoperating Income (Expense)	9 Months Ended
	Sep. 29, 2023
Other Income and Expenses [Abstract]
Nonoperating Income (Expense)	NONOPERATING INCOME (EXPENSE) Other Components of Net Periodic Benefit Costs The Company disaggregates the service cost component of net periodic benefit costs of noncontributory defined benefit pension plans and other postretirement employee benefit plans and presents the other components of net periodic benefit costs in other income (expense), net. These other components of net periodic benefit costs include the assumed rate of return on plan assets, partially offset by amortization of actuarial losses and interest and were less than $1 million for the three and nine-month periods ended September 29, 2023 and September 30, 2022. Impairment of Equity Method Investment

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
	Sep. 29, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	GOODWILL AND OTHER INTANGIBLE ASSETS The following is a rollforward of the Company’s goodwill ($ in millions): Balance, December 31, 2022 $ 2,476 Adjustments due to finalization of purchase price allocations 1 Foreign currency translation and other 3 Balance, September 29, 2023 $ 2,480 The carrying value of goodwill by segment is summarized as follows ($ in millions): September 29, 2023 December 31, 2022 Water Quality $ 1,282 $ 1,277 Product Quality & Innovation 1,198 1,199 Total $ 2,480 $ 2,476 The Company has not identified any “triggering” events which indicate an impairment of goodwill in the three and nine-month periods ended September 29, 2023 and September 30, 2022.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 29, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	FAIR VALUE MEASUREMENTS The carrying amounts and fair values of the Company’s financial instruments were as follows ($ in millions): September 29, 2023 Carrying Amount Fair Value Long-term debt $ 2,604 $ 2,587

Financing

Financing	9 Months Ended
	Sep. 29, 2023
Debt Disclosure [Abstract]
Financing	FINANCING As of September 29, 2023, the Company was in compliance with all of its debt covenants. The components of the Company’s debt were as follows ($ in millions): Outstanding Amount Description and Aggregate Principal Amount September 29, 2023 5.50% senior unsecured notes due 9/18/2026 ($700 million) (the "2026 Notes") $ 695 5.35% senior unsecured notes due 9/18/2028 ($700 million) (the "2028 Notes") 694 4.15% senior unsecured notes due 9/19/2031 (€500 million) (the "2031 Notes") 523 5.45% senior unsecured notes due 9/18/2033 ($700 million) (the "2033 Notes") 692 Long-term debt $ 2,604 Senior Unsecured Notes In September 2023, and in connection with the Separation, the Company issued approximately $2.1 billion aggregate principal amount of USD senior unsecured notes in three series with maturity dates ranging from 2026 through 2033 (collectively, the “U.S. Dollar Notes”). Additionally, the Company issued €500 million principal amount of senior unsecured notes (“Euro Notes”) with a maturity date of 2031. Interest payments on the U.S. Dollar Notes are due semi-annually until maturity, with the first interest payment due in March 2024. Interest payments on the Euro Notes are due annually until maturity, with the first interest payment due in September 2024. In the event of a change in control and a related downgrade of the ratings of the U.S. Dollar Notes and Euro Notes (collectively, the "Notes") below investment grade, the indentures governing the Notes requires that the Company make an offer to each holder of the Notes to repurchase all or any part of that holder's notes at a repurchase price equal to 101% of the aggregate principal amount of the Notes repurchased, plus any accrued and unpaid interest. The indentures also include a limitation on liens incurred by the Company and its wholly owned U.S. subsidiaries. The indentures do not restrict the Company or its subsidiaries from incurring indebtedness, nor does it require any financial covenants. All the covenants are subject to a number of exceptions, limitations, and qualifications. Upon issuance, the Notes became guaranteed by Danaher. Following the completion of the Separation on September 30, 2023, Danaher was automatically and unconditionally released and discharged from all obligations under its guarantees. The Company recorded $25 million of debt discounts and debt issuance costs related to the Notes. Debt issuance costs are presented as a reduction of debt in the Combined Condensed Balance Sheets and are amortized as a component of interest expense over the term of the related debt. The proceeds of the Notes were distributed to Danaher during September as partial consideration for the net assets contributed to Veralto in advance of the Separation on September 30, 2023. Credit Facility On August 31, 2023, the Company entered into a credit agreement providing for a five-year unsecured revolving credit facility in an aggregate committed amount of $1.5 billion (the “Credit Facility”). There were no outstanding amounts under the Credit Facility as of September 29, 2023. The Credit Facility includes an alternative currency sublimit up to an amount equal to 90% of the aggregate commitments and a $100 million swingline sublimit and provides for the issuance of swing loans. Borrowings under the Credit Facility bear interest at the Company’s option as follows: (i) in the case of borrowings denominated in U.S. dollars, (1) Term Secured Overnight Financing Rate (“SOFR”) Loans (as defined in the Credit Agreement) bear interest at a variable rate equal to the Term SOFR (as defined in the Credit Agreement) plus the Applicable Rate (a margin of between 79.5 and 130.0 basis points, depending on the Company’s long-term debt credit rating); and (2) Base Rate Committed Loans and Swing Line Loans (each as defined in the Credit Agreement) bear interest at a variable rate equal to the highest of (a) the Federal funds rate (as published by the Federal Reserve Bank of New York from time to time) plus 1/2 of 1.0%, (b) Bank of America’s “prime rate” as publicly announced from time to time, (c) Term SOFR (based on one-month interest period plus 1.0%) and (d) 1.0%, plus in each case the Applicable Rate (a margin of between 0.0 to 30.0 basis points, depending on the Company’s long-term debt credit rating); and (ii) in the case of borrowings denominated in euros, Alternative Currency Loans (as defined in the Credit Agreement) bear interest at EURIBOR (as defined in the Credit Agreement) plus the Applicable Rate (a margin of between 79.5 and 130.0 basis points, depending on the Company’s long-term debt credit rating). In addition, the Company is required to pay a per annum facility fee of between 8.0 and 20.0 basis points (depending on the Company’s long-term debt credit rating) based on the aggregate commitments under the Credit Facility, regardless of usage. The Company’s current credit rating as of September 29, 2023 is Baa1/BBB and the associated facility fee is 9.0 basis points. The Credit Facilities contain affirmative and negative covenants customary to financings of this type that, among other things, limit the Company and its subsidiaries’ ability to incur additional liens and to make certain fundamental changes. In addition, the Credit Facilities contain a financial covenant that requires the Company to not exceed a maximum consolidated net leverage ratio of 3.75:1.00 that will be tested beginning with the quarter ended on September 29, 2023. The Company intends to use the Credit Facility for liquidity support for the Company’s commercial paper programs and for general corporate purposes. Debt issuance costs related to the credit facility were not material.

Hedging Transactions

Hedging Transactions	9 Months Ended
	Sep. 29, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Hedging Transactions	HEDGING TRANSACTIONS The Company is neither a dealer nor a trader in derivative instruments. The Company has generally accepted the exposure to transactional exchange rate movements without using derivative instruments to manage this risk. The Company has issued foreign currency denominated long-term debt as a partial hedge of its net investment in foreign operations against adverse movements in exchange rates between the U.S. dollar and the euro. This foreign currency denominated long-term debt issuance is designated and qualifies as a nonderivative hedging instrument. Accordingly, the foreign currency translation of this debt instrument is recorded in accumulated other comprehensive income (loss), offsetting the foreign currency translation adjustment of the Company’s related net investment that is also recorded in accumulated other comprehensive income (loss). This instrument matures in September 2031. The following table summarizes the notional values as of September 29, 2023 and pretax impact of changes in the fair values of instruments designated as net investment hedges in accumulated other comprehensive income (“OCI”) for the three and nine-month periods ended September 29, 2023 ($ in millions): Original Notional Amount Notional Amount Outstanding Gain (Loss) Recognized in OCI Amounts Reclassified from OCI For the Three and Nine-Month Periods Ended September 29, 2023: Foreign currency denominated debt $ 523 $ 523 $ 4 $ — Gains or losses related to the net investment hedges are classified as foreign currency translation adjustments in the schedule of changes in OCI in Note 13, as these items are attributable to the Company’s hedges of its net investment in foreign operations. The Company did not reclassify any other deferred gains or losses related to the net investment hedge from accumulated other comprehensive income (loss) to earnings during the three and nine-month periods ended September 29, 2023. In addition, the Company did not have any ineffectiveness related to the net investment hedge during the three and nine-month periods ended September 29, 2023, and, should they arise, any ineffective portions of the hedge would be reclassified from accumulated other comprehensive income (loss) into earnings during the period of change. The Company’s nonderivative debt instrument designated and qualifying as a net investment hedge, was classified in the Company’s Combined Condensed Balance Sheets within Long-term debt as of September 29, 2023.

Defined Benefit Plans

Defined Benefit Plans	9 Months Ended
	Sep. 29, 2023
Retirement Benefits [Abstract]
Defined Benefit Plans	DEFINED BENEFIT PLANS The following sets forth the components of the Company’s net periodic benefit cost of the non-U.S. noncontributory defined benefit pension plans ($ in millions): Three-Month Period Ended Nine-Month Period Ended September 29, 2023 September 30, 2022 September 29, 2023 September 30, 2022 Service cost $ (1) $ (1) $ (3) $ (4) Interest cost (1) (1) (3) (1) Expected return on plan assets 1 1 3 2 Amortization of net loss — — — (1) Net periodic cost $ (1) $ (1) $ (3) $ (4) The service cost component of net periodic benefit costs is presented in cost of goods sold and selling, general and administrative expenses while the other cost components are presented in other income (expense), net. Employer Contributions

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 29, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES The Company reviews the adequacy of its legal reserves on a quarterly basis and establishes reserves for loss contingencies that are both probable and reasonably estimable. For a further description of the Company’s litigation and contingencies, refer to Note 12 of the Company’s financial statements as of and for the year ended December 31, 2022 included within the Information Statement. The Company generally accrues estimated warranty costs at the time of sale. In general, manufactured products are warranted against defects in material and workmanship when properly used for their intended purpose, installed correctly and appropriately maintained. Warranty periods depend on the nature of the product and range from the date of such sale up to twenty years. 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. As of September 29, 2023 and December 31, 2022, the Company had accrued warranty liabilities of $34 million and $32 million, respectively.

Parent's Equity and Stock-Based

Parent's Equity and Stock-Based Compensation	9 Months Ended
	Sep. 29, 2023
Share-Based Payment Arrangement [Abstract]
Parent's Equity and Stock-Based Compensation	PARENT'S EQUITY AND STOCK-BASED COMPENSATION For a full description of the Parent’s stock-based compensation programs in which certain employees of the Company participate, reference is made to Note 13 of the Company’s financial statements as of and for the year ended December 31, 2022 included within the Information Statement. As of September 29, 2023 , approximately 41 million shares of the Parent’s common stock were reserved for issuance under the Parent’s 2007 Omnibus Incentive Plan. As a result of the Separation, accounts held by Veralto employees in the Parent’s deferred compensation programs referencing valuation of the Parent common stock were converted into accounts in Veralto deferred compensation programs referencing valuation of Veralto common stock, and with such accounts adjusted to maintain the economic value before and after the Separation date using the relative fair market value of the Parent and Veralto common stock. In connection with the Separation, the Company adopted the 2023 Omnibus Incentive Plan (the “Stock Plan”) and outstanding equity awards of the Parent held by Veralto employees were converted into or replaced with awards of Veralto common stock under the Stock Plan based on the “concentration method,” and as adjusted to maintain the economic value before and after the Separation date using the ratio of the Veralto common stock fair market value relative to the Danaher common stock fair market value prior to the Separation. The incremental stock-based compensation expense to be recorded as a result of this equity award conversion will be $12 million, with $6 million recognized after the Separation in the fourth quarter of 2023 and an additional $6 million recognized over the remaining service period. For each equity award holder, the intent was to maintain the economic value of the equity awards before and after the Separation. The terms of the equity awards, such as the award period, exercisability and vesting schedule, as applicable, generally continue unchanged. Other than converted or replacement equity awards of Veralto issued in replacement of the Parent’s restricted stock units (“RSUs”) and stock options, the terms of the converted or replacement equity awards of Veralto (e.g., vesting date and expiration date) continued unchanged. Three-Month Period Ended Nine-Month Period Ended September 29, 2023 September 30, 2022 September 29, 2023 September 30, 2022 RSUs/PSUs: Pretax compensation expense $ 7 $ 5 $ 19 $ 17 Income tax benefit — (1) (1) (3) RSU/PSU and restricted share expense, net of income taxes 7 4 18 14 Stock options: Pretax compensation expense 6 3 16 13 Income tax benefit (1) — (3) (2) Stock option expense, net of income taxes 5 3 13 11 Total stock-based compensation: Pretax compensation expense 13 8 35 30 Income tax benefit (1) (1) (4) (5) Total stock-based compensation expense, net of income taxes $ 12 $ 7 $ 31 $ 25 Stock-based compensation has been recognized as a component of selling, general and administrative expenses in the accompanying Combined Condensed Statements of Earnings. As of September 29, 2023, $35 million of total unrecognized compensation cost related to RSUs and performance stock units (“PSUs”) is expected to be recognized over a weighted average period of approximately two years. As of September 29, 2023, $40 million of total unrecognized compensation cost related to stock options is expected to be recognized over a weighted average period of approximately two years. Future compensation amounts will be adjusted for any changes in estimated forfeitures. Accumulated Other Comprehensive Income (Loss) Accumulated other comprehensive income (loss) refers to certain gains and losses that under U.S. GAAP are included in comprehensive income (loss) but are excluded from net earnings as these amounts are initially recorded as an adjustment to Parent’s equity. Foreign currency translation adjustments generally relate to indefinite investments in non-U.S. subsidiaries. The changes in accumulated other comprehensive income (loss) by component are summarized below ($ in millions). Foreign Currency Translation Adjustments Net Investment Hedges Pension and Postretirement Plan Benefit Adjustments Accumulated Comprehensive Income (Loss) For the Three-Month Period Ended September 29, 2023 Balance, June 30, 2023 $ (940) $ — $ 14 $ (926) Other comprehensive income (loss): Decrease (62) 4 — $ (58) Income tax impact — (1) — (1) Net other comprehensive income (loss), net of income taxes (62) 3 — (59) Balance, September 29, 2023 $ (1,002) $ 3 $ 14 $ (985) For the Three-Month Period Ended September 30, 2022: Balance, July 1, 2022 $ (983) $ — $ (18) $ (1,001) Other comprehensive income (loss): Decrease (97) — — (97) Net other comprehensive income (loss), net of income taxes (97) — — (97) Balance, September 30, 2022 $ (1,080) $ — $ (18) $ (1,098) Foreign Currency Translation Adjustments Net Investment Hedges Pension and Postretirement Plan Benefit Adjustments Accumulated Comprehensive Income (Loss) For the Nine-Month Period Ended September 29, 2023: Balance, December 31, 2022 $ (968) $ — $ 14 $ (954) Other comprehensive income (loss): Decrease (34) 4 — (30) Income tax impact — (1) — (1) Net other comprehensive income (loss), net of income taxes (34) 3 — (31) Balance, September 29, 2023 $ (1,002) $ 3 $ 14 $ (985) For the Nine-Month Period Ended September 30, 2022: Balance, December 31, 2021 $ (868) $ — $ (19) $ (887) Other comprehensive income (loss) before reclassifications: Decrease (212) — — (212) Income tax impact — — — — Other comprehensive income (loss) before reclassifications, net of income taxes (212) — — (212) Reclassification adjustments: Increase — — 1 (a) 1 Reclassification adjustments, net of income taxes — — 1 1 Net other comprehensive income (loss), net of income taxes (212) — 1 (211) Balance, September 30, 2022 $ (1,080) $ — $ (18) $ (1,098) (a) This accumulated other comprehensive income (loss) component is included in the computation of net periodic benefit cost (refer to Notes 6 and 11 for additional details).

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 29, 2023
Related Party Transactions [Abstract]
Related Party Transactions	RELATED PARTY TRANSACTIONS The Company has historically operated as part of Parent and not as a separate, publicly traded company. Accordingly, Parent has allocated certain shared costs to the Company that are reflected as expenses in these financial statements. Management considers the allocation methodologies used by Parent to be reasonable and to appropriately reflect the related expenses attributable to the Company for purposes of the carve-out financial statements; however, the expenses reflected in these financial statements may not be indicative of the actual expenses that would have been incurred during the periods presented if the Company had operated as a separate entity. In addition, the expenses reflected in the financial statements may not be indicative of expenses the Company will incur in the future. Corporate Expenses Certain corporate overhead and shared expenses incurred by Parent and its subsidiaries have been allocated to the Company and are reflected in the Combined Statements of Earnings. These amounts include, but are not limited to, items such as general management and executive oversight, costs to support Parent information technology infrastructure, facilities, compliance, human resources, marketing and legal functions and financial management and transaction processing including public company reporting, consolidated tax filings and tax planning, Parent benefit plan administration, risk management and consolidated treasury services, certain employee benefits and incentives, and stock based compensation administration. These costs are allocated using methodologies that management believes are reasonable for the item being allocated. Allocation methodologies include the Company’s relative share of revenues, headcount, or functional spend as a percentage of the total. Insurance Programs Administered by Parent In addition to the corporate allocations discussed above, the Company was allocated expenses related to certain insurance programs Parent administers on behalf of the Company, including workers compensation, property, cargo, automobile, crime, fiduciary, product, general and directors’ and officers’ liability insurance. These amounts are allocated using various methodologies, as described below. Included within the insurance cost allocation are allocations related to programs for which Parent is self-insured up to a certain amount. For the self-insured component, costs are allocated to the Company based on its incurred claims. Parent has premium based policies which cover amounts in excess of the self-insured retentions. The Company is allocated a portion of the total insurance cost incurred by Parent based on its pro-rata portion of Parent’s total underlying exposure base. An estimated liability relating to the Company’s known and incurred but not reported claims has been allocated to the Company and reflected on the accompanying Combined Condensed Balance Sheets. Medical Insurance Programs Administered by Parent In addition to the corporate allocations discussed above, the Company was allocated expenses related to the medical insurance programs Parent administers on behalf of the Company. These amounts were allocated using actual medical claims incurred during the period for the associated employees attributable to the Company. Deferred Compensation Program Administered by Parent Certain management employees of the Company participate in Parent’s 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 of Parent and are presented as a component of the Company’s compensation and benefits accrual included in other long-term liabilities in the accompanying Combined Condensed Balance Sheets. Participants may choose among alternative earning rates for the amounts they defer, which are primarily based on investment options within Parent’s 401(k) program (except that the earnings rates for amounts contributed unilaterally by Parent are entirely based on changes in the value of Parent’s 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. The amounts of related party expenses allocated to the Company from Parent and its subsidiaries for the three and nine-month periods ended September 29, 2023 and September 30, 2022, were as follows ($ in millions): Three Month Period Ended Nine-Month Period Ended September 29, 2023 September 30, 2022 September 29, 2023 September 30, 2022 Allocated Corporate Expenses $ 15 $ 12 $ 42 $ 35 Directly related charges: Insurance programs expenses 2 2 6 5 Medical insurance programs expenses 23 22 64 65 Deferred compensation program expenses 1 — 3 2 Total related-party expenses $ 41 $ 36 $ 115 $ 107 Revenue and other transactions entered into in the ordinary course of business Certain of the Company’s revenue arrangements relate to contracts entered into in the ordinary course of business with Parent and Parent affiliates. Related party revenue was $7 million and $6 million for the three-month periods ended September 29, 2023 and September 30, 2022, respectively. Related party revenue was $21 million and $17 million for the nine-month periods ended September 29, 2023 and September 30, 2022, respectively.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2023	Sep. 30, 2022	Sep. 29, 2023	Sep. 30, 2022
Pay vs Performance Disclosure
Net earnings	$ 205	$ 218	$ 639	$ 629

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 29, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

General (Policies)

General (Policies)	9 Months Ended
	Sep. 29, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accounting Standards Recently Adopted	In August 2023, the FASB issued ASU 2023-05, Business Combinations—Joint Venture Formations (Subtopic 805-60): Recognition and Initial Measurement. The ASU requires that a joint venture apply a new basis of accounting upon formation in which the joint venture will recognize and initially measure its assets and liabilities at fair value (with exceptions to fair value measurement that are consistent with the business combinations guidance). The ASU is effective prospectively for all joint venture formations with a formation date on or after January 1, 2025, with early adoption permitted. The Company early adopted the ASU effective September 29, 2023 on a prospective basis with no impact to the financial statements and related disclosures.
Cash and Equivalents	Cash and Equivalents—The Company considers all highly liquid investments with a maturity of three months or less at the date of purchase to be cash equivalents. The cash balance presented on the Combined Condensed Balance Sheet as of September 29, 2023 of $426 million represents amounts clearly associated with Veralto related to the contribution of the Veralto businesses to the Company on September 29, 2023, as described above.
Operating Leases	Operating Leases —As of September 29, 2023 and December 31, 2022, operating lease right-of-use assets where the Company was the lessee were $128 million and $117 million, respectively, and are included within other long-term assets in the accompanying Combined Condensed Balance Sheets. The associated operating lease liabilities were $132 million and $123 million as of September 29, 2023 and December 31, 2022, respectively, and are included in accrued expenses and other liabilities and other long-term liabilities.
Prepaid Expenses and Other Current Assets	Prepaid Expenses and Other Current Assets—Prepaid expenses and other current assets primarily result from advance payments to vendors for good and services and are capitalized until the related goods are received or services are performed. Included in the Company’s prepaid expenses and other current assets as of September 29, 2023 and December 31, 2022 are prepaid expenses of $88 million and $102 million, respectively

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 29, 2023
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following tables present the Company’s revenues disaggregated by geographical region and revenue type for the three and nine-month periods ended September 29, 2023 and September 30, 2022 ($ in millions) . Sales taxes and other usage-based taxes collected from customers are excluded from revenue. Water Quality Product Quality & Innovation Total For the Three-Month Period Ended September 29, 2023: Geographical region: North America (a) $ 438 $ 162 $ 600 Western Europe 131 141 272 Other developed markets (b) 18 12 30 High-growth markets (c) 185 168 353 Total $ 772 $ 483 $ 1,255 Revenue type: Recurring (Consumables, services and spare parts) $ 438 $ 306 $ 744 Nonrecurring (Equipment) 334 177 511 Total $ 772 $ 483 $ 1,255 For the Three-Month Period Ended September 30, 2022: Geographical region: North America (a) $ 414 $ 166 $ 580 Western Europe 116 126 242 Other developed markets (b) 15 13 28 High-growth markets (c) 196 173 369 Total $ 741 $ 478 $ 1,219 Revenue type: Recurring (Consumables, services and spare parts) $ 442 $ 290 $ 732 Nonrecurring (Equipment) 299 188 487 Total $ 741 $ 478 $ 1,219 Water Quality Product Quality & Innovation Total For the Nine-Month Period Ended September 29, 2023: Geographical region: North America (a) $ 1,265 $ 493 $ 1,758 Western Europe 396 439 835 Other developed markets (b) 51 39 90 High-growth markets (c) 545 505 1,050 Total $ 2,257 $ 1,476 $ 3,733 Revenue type: Recurring (Consumables, services and spare parts) $ 1,297 $ 913 $ 2,210 Nonrecurring (Equipment) 960 563 1,523 Total $ 2,257 $ 1,476 $ 3,733 For the Nine-Month Period Ended September 30, 2022: Geographical region: North America (a) $ 1,183 $ 505 $ 1,688 Western Europe 365 416 781 Other developed markets (b) 49 44 93 High-growth markets (c) 534 526 1,060 Total $ 2,131 $ 1,491 $ 3,622 Revenue type: Recurring (Consumables, services and spare parts) $ 1,247 $ 900 $ 2,147 Nonrecurring (Equipment) 884 591 1,475 Total $ 2,131 $ 1,491 $ 3,622 (a) The Company defines North America as the United States and Canada. (b ) The Company defines other developed markets as Japan, Australia and New Zealand. (c) The Company defines high-growth markets as developing markets of the world experiencing extended periods of accelerated growth in gross domestic product and infrastructure which encompass all markets outside of the developed markets and consist of Eastern Europe, the Middle East, Africa, Latin America (including Mexico) and Asia (with the exception of Japan, Australia and New Zealand). The Company defines developed markets as all markets of the world that are not high-growth markets.

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 29, 2023
Segment Reporting [Abstract]
Segment Results	Segment results are shown below ($ in millions): Three-Month Period Ended Nine-Month Period Ended September 29, 2023 September 30, 2022 September 29, 2023 September 30, 2022 Sales: Water Quality $ 772 $ 741 $ 2,257 $ 2,131 Product Quality & Innovation 483 478 1,476 1,491 Total $ 1,255 $ 1,219 $ 3,733 $ 3,622 Operating profit: Water Quality $ 188 $ 185 $ 536 $ 485 Product Quality & Innovation 99 109 356 364 Other (14) (9) (38) (31) Total $ 273 $ 285 $ 854 $ 818

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 29, 2023
Income Tax Disclosure [Abstract]
Summary of Effective Income Tax Rate	The following table summarizes the Company’s effective tax rate: Three-Month Period Ended Nine-Month Period Ended September 29, 2023 September 30, 2022 September 29, 2023 September 30, 2022 Effective tax rate 23.5 % 23.5 % 23.5 % 23.1 %

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Sep. 29, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Rollforward of Goodwill	The following is a rollforward of the Company’s goodwill ($ in millions): Balance, December 31, 2022 $ 2,476 Adjustments due to finalization of purchase price allocations 1 Foreign currency translation and other 3 Balance, September 29, 2023 $ 2,480 The carrying value of goodwill by segment is summarized as follows ($ in millions): September 29, 2023 December 31, 2022 Water Quality $ 1,282 $ 1,277 Product Quality & Innovation 1,198 1,199 Total $ 2,480 $ 2,476 The Company has not identified any “triggering” events which indicate an impairment of goodwill in the three and nine-month periods ended September 29, 2023 and September 30, 2022.
Goodwill by Segment	The following is a rollforward of the Company’s goodwill ($ in millions): Balance, December 31, 2022 $ 2,476 Adjustments due to finalization of purchase price allocations 1 Foreign currency translation and other 3 Balance, September 29, 2023 $ 2,480 The carrying value of goodwill by segment is summarized as follows ($ in millions): September 29, 2023 December 31, 2022 Water Quality $ 1,282 $ 1,277 Product Quality & Innovation 1,198 1,199 Total $ 2,480 $ 2,476 The Company has not identified any “triggering” events which indicate an impairment of goodwill in the three and nine-month periods ended September 29, 2023 and September 30, 2022.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 29, 2023
Fair Value Disclosures [Abstract]
Carrying Amounts and Fair Values of Financial Instruments	The carrying amounts and fair values of the Company’s financial instruments were as follows ($ in millions): September 29, 2023 Carrying Amount Fair Value Long-term debt $ 2,604 $ 2,587

Financing (Tables)

Financing (Tables)	9 Months Ended
	Sep. 29, 2023
Debt Disclosure [Abstract]
Components of Debt	The components of the Company’s debt were as follows ($ in millions): Outstanding Amount Description and Aggregate Principal Amount September 29, 2023 5.50% senior unsecured notes due 9/18/2026 ($700 million) (the "2026 Notes") $ 695 5.35% senior unsecured notes due 9/18/2028 ($700 million) (the "2028 Notes") 694 4.15% senior unsecured notes due 9/19/2031 (€500 million) (the "2031 Notes") 523 5.45% senior unsecured notes due 9/18/2033 ($700 million) (the "2033 Notes") 692 Long-term debt $ 2,604

Hedging Transactions (Tables)

Hedging Transactions (Tables)	9 Months Ended
	Sep. 29, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Notional Amounts of Outstanding Derivative Positions	The following table summarizes the notional values as of September 29, 2023 and pretax impact of changes in the fair values of instruments designated as net investment hedges in accumulated other comprehensive income (“OCI”) for the three and nine-month periods ended September 29, 2023 ($ in millions): Original Notional Amount Notional Amount Outstanding Gain (Loss) Recognized in OCI Amounts Reclassified from OCI For the Three and Nine-Month Periods Ended September 29, 2023: Foreign currency denominated debt $ 523 $ 523 $ 4 $ —
Derivative Instruments, Gain (Loss)	The following table summarizes the notional values as of September 29, 2023 and pretax impact of changes in the fair values of instruments designated as net investment hedges in accumulated other comprehensive income (“OCI”) for the three and nine-month periods ended September 29, 2023 ($ in millions): Original Notional Amount Notional Amount Outstanding Gain (Loss) Recognized in OCI Amounts Reclassified from OCI For the Three and Nine-Month Periods Ended September 29, 2023: Foreign currency denominated debt $ 523 $ 523 $ 4 $ —

Defined Benefit Plans (Tables)

Defined Benefit Plans (Tables)	9 Months Ended
	Sep. 29, 2023
Retirement Benefits [Abstract]
Schedule of Net Benefit Costs	Three-Month Period Ended Nine-Month Period Ended September 29, 2023 September 30, 2022 September 29, 2023 September 30, 2022 Service cost $ (1) $ (1) $ (3) $ (4) Interest cost (1) (1) (3) (1) Expected return on plan assets 1 1 3 2 Amortization of net loss — — — (1) Net periodic cost $ (1) $ (1) $ (3) $ (4)

Parent's Equity and Stock-Bas_2

Parent's Equity and Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 29, 2023
Share-Based Payment Arrangement [Abstract]
Components of Stock-Based Compensation Program	Three-Month Period Ended Nine-Month Period Ended September 29, 2023 September 30, 2022 September 29, 2023 September 30, 2022 RSUs/PSUs: Pretax compensation expense $ 7 $ 5 $ 19 $ 17 Income tax benefit — (1) (1) (3) RSU/PSU and restricted share expense, net of income taxes 7 4 18 14 Stock options: Pretax compensation expense 6 3 16 13 Income tax benefit (1) — (3) (2) Stock option expense, net of income taxes 5 3 13 11 Total stock-based compensation: Pretax compensation expense 13 8 35 30 Income tax benefit (1) (1) (4) (5) Total stock-based compensation expense, net of income taxes $ 12 $ 7 $ 31 $ 25
Components 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 Net Investment Hedges Pension and Postretirement Plan Benefit Adjustments Accumulated Comprehensive Income (Loss) For the Three-Month Period Ended September 29, 2023 Balance, June 30, 2023 $ (940) $ — $ 14 $ (926) Other comprehensive income (loss): Decrease (62) 4 — $ (58) Income tax impact — (1) — (1) Net other comprehensive income (loss), net of income taxes (62) 3 — (59) Balance, September 29, 2023 $ (1,002) $ 3 $ 14 $ (985) For the Three-Month Period Ended September 30, 2022: Balance, July 1, 2022 $ (983) $ — $ (18) $ (1,001) Other comprehensive income (loss): Decrease (97) — — (97) Net other comprehensive income (loss), net of income taxes (97) — — (97) Balance, September 30, 2022 $ (1,080) $ — $ (18) $ (1,098) Foreign Currency Translation Adjustments Net Investment Hedges Pension and Postretirement Plan Benefit Adjustments Accumulated Comprehensive Income (Loss) For the Nine-Month Period Ended September 29, 2023: Balance, December 31, 2022 $ (968) $ — $ 14 $ (954) Other comprehensive income (loss): Decrease (34) 4 — (30) Income tax impact — (1) — (1) Net other comprehensive income (loss), net of income taxes (34) 3 — (31) Balance, September 29, 2023 $ (1,002) $ 3 $ 14 $ (985) For the Nine-Month Period Ended September 30, 2022: Balance, December 31, 2021 $ (868) $ — $ (19) $ (887) Other comprehensive income (loss) before reclassifications: Decrease (212) — — (212) Income tax impact — — — — Other comprehensive income (loss) before reclassifications, net of income taxes (212) — — (212) Reclassification adjustments: Increase — — 1 (a) 1 Reclassification adjustments, net of income taxes — — 1 1 Net other comprehensive income (loss), net of income taxes (212) — 1 (211) Balance, September 30, 2022 $ (1,080) $ — $ (18) $ (1,098) (a) This accumulated other comprehensive income (loss) component is included in the computation of net periodic benefit cost (refer to Notes 6 and 11 for additional details).

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
	Sep. 29, 2023
Related Party Transactions [Abstract]
Schedule of Related Party Expenses Allocated From Parent and Its Subsidiaries	The amounts of related party expenses allocated to the Company from Parent and its subsidiaries for the three and nine-month periods ended September 29, 2023 and September 30, 2022, were as follows ($ in millions): Three Month Period Ended Nine-Month Period Ended September 29, 2023 September 30, 2022 September 29, 2023 September 30, 2022 Allocated Corporate Expenses $ 15 $ 12 $ 42 $ 35 Directly related charges: Insurance programs expenses 2 2 6 5 Medical insurance programs expenses 23 22 64 65 Deferred compensation program expenses 1 — 3 2 Total related-party expenses $ 41 $ 36 $ 115 $ 107

General (Additional Information

General (Additional Information) (Details) $ in Millions				9 Months Ended
	Sep. 29, 2023 USD ($) shares	Sep. 20, 2023 USD ($)	Sep. 13, 2023	Sep. 29, 2023 USD ($) segment1	Sep. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)
Class of Stock [Line Items]
Consideration paid to Parent for net assets contributed | $		$ 2,600		$ 2,600	$ 0
Number of segments reported | segment1				2
Cash and equivalents | $	$ 426			$ 426		$ 0
Common stock | Veralto Corporation
Class of Stock [Line Items]
Shares of common stock of new entity received by shareholder for number of shares held on date of record			0.3333
Common stock | Danaher Corporation
Class of Stock [Line Items]
Recapitalization (in shares) | shares	246,291,342
Common stock | Danaher Corporation | Veralto Corporation
Class of Stock [Line Items]
Shares held, converted into shares of new entity (in shares) | shares	100

General (Operating Leases) (Det

General (Operating Leases) (Details) - USD ($) $ in Millions	Sep. 29, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Operating lease, right-of-use assets	$ 128	$ 117
Operating lease, liabilities	$ 132	$ 123

General (Prepaids) (Details)

General (Prepaids) (Details) - USD ($) $ in Millions	Sep. 29, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Prepaid expenses	$ 88	$ 102

Capital Stock and Net Earning_2

Capital Stock and Net Earnings per Common Share (Narrative) (Details)	Sep. 29, 2023 business $ / shares shares	Dec. 31, 2022 $ / shares shares	Sep. 30, 2022 shares
Class of Stock [Line Items]
Common stock, shares authorized (in shares)	1,000,000,000	100
Common stock, par value (in usd per share) | $ / shares	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	15,000,000	100
Preferred stock, par value (in usd per share) | $ / shares	$ 0.01	$ 0.01
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Shareholder vote | business	1
Common stock, shares outstanding (in shares)	246,300,000	100	0
Danaher Corporation | Common stock
Class of Stock [Line Items]
Recapitalization (in shares)	246,291,342
Danaher Corporation | Veralto Corporation | Common stock
Class of Stock [Line Items]
Shares held, converted into shares of new entity (in shares)	100

Revenue (Disaggregation of Reve

Revenue (Disaggregation of Revenue by Geographical Region) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2023	Sep. 30, 2022	Sep. 29, 2023	Sep. 30, 2022
Disaggregation of Revenue [Line Items]
Revenue	$ 1,255	$ 1,219	$ 3,733	$ 3,622
Recurring revenue
Disaggregation of Revenue [Line Items]
Revenue	744	732	2,210	2,147
Nonrecurring revenue
Disaggregation of Revenue [Line Items]
Revenue	511	487	1,523	1,475
North America
Disaggregation of Revenue [Line Items]
Revenue	600	580	1,758	1,688
Western Europe
Disaggregation of Revenue [Line Items]
Revenue	272	242	835	781
Other developed markets
Disaggregation of Revenue [Line Items]
Revenue	30	28	90	93
High-growth markets
Disaggregation of Revenue [Line Items]
Revenue	353	369	1,050	1,060
Operating segments | Water Quality
Disaggregation of Revenue [Line Items]
Revenue	772	741	2,257	2,131
Operating segments | Water Quality | Recurring revenue
Disaggregation of Revenue [Line Items]
Revenue	438	442	1,297	1,247
Operating segments | Water Quality | Nonrecurring revenue
Disaggregation of Revenue [Line Items]
Revenue	334	299	960	884
Operating segments | Water Quality | North America
Disaggregation of Revenue [Line Items]
Revenue	438	414	1,265	1,183
Operating segments | Water Quality | Western Europe
Disaggregation of Revenue [Line Items]
Revenue	131	116	396	365
Operating segments | Water Quality | Other developed markets
Disaggregation of Revenue [Line Items]
Revenue	18	15	51	49
Operating segments | Water Quality | High-growth markets
Disaggregation of Revenue [Line Items]
Revenue	185	196	545	534
Operating segments | Product Quality & Innovation
Disaggregation of Revenue [Line Items]
Revenue	483	478	1,476	1,491
Operating segments | Product Quality & Innovation | Recurring revenue
Disaggregation of Revenue [Line Items]
Revenue	306	290	913	900
Operating segments | Product Quality & Innovation | Nonrecurring revenue
Disaggregation of Revenue [Line Items]
Revenue	177	188	563	591
Operating segments | Product Quality & Innovation | North America
Disaggregation of Revenue [Line Items]
Revenue	162	166	493	505
Operating segments | Product Quality & Innovation | Western Europe
Disaggregation of Revenue [Line Items]
Revenue	141	126	439	416
Operating segments | Product Quality & Innovation | Other developed markets
Disaggregation of Revenue [Line Items]
Revenue	12	13	39	44
Operating segments | Product Quality & Innovation | High-growth markets
Disaggregation of Revenue [Line Items]
Revenue	$ 168	$ 173	$ 505	$ 526

Revenue (Narrative) (Details)

Revenue (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2023	Sep. 30, 2022	Sep. 29, 2023	Sep. 30, 2022	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Revenue, OTLs and STLs	$ 24	$ 19	$ 63	$ 50
Contract with customer, liabilities	$ 216		216		$ 206
Contract with customer, liabilities, revenue recognized			$ 146	$ 142

Revenue (Performance Obligation

Revenue (Performance Obligations) (Details) $ in Millions	Sep. 29, 2023 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 286
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-09-30
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, percentage	43%
Revenue, remaining performance obligation, expected timing of satisfaction, period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-09-29
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, percentage	35%
Revenue, remaining performance obligation, expected timing of satisfaction, period	12 months

Segment Information (Narrative)

Segment Information (Narrative) (Details)	9 Months Ended
	Sep. 29, 2023 segment1
Segment Reporting [Abstract]
Number of segments reported	2
Number of Operating Segments	2

Segment Information (Segment Re

Segment Information (Segment Results) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2023	Sep. 30, 2022	Sep. 29, 2023	Sep. 30, 2022
Segment Reporting Information [Line Items]
Sales	$ 1,255	$ 1,219	$ 3,733	$ 3,622
Operating profit	273	285	854	818
Other
Segment Reporting Information [Line Items]
Operating profit	(14)	(9)	(38)	(31)
Water Quality | Operating segments
Segment Reporting Information [Line Items]
Sales	772	741	2,257	2,131
Operating profit	188	185	536	485
Product Quality & Innovation | Operating segments
Segment Reporting Information [Line Items]
Sales	483	478	1,476	1,491
Operating profit	$ 99	$ 109	$ 356	$ 364

Income Taxes (Summary of Effect

Income Taxes (Summary of Effective Income Tax Rate) (Details)	3 Months Ended		9 Months Ended
	Sep. 29, 2023	Sep. 30, 2022	Sep. 29, 2023	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Effective tax rate	23.50%	23.50%	23.50%	23.10%

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2023	Sep. 30, 2022	Sep. 29, 2023	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Federal statutory income tax rate, percent	21%	21%	21%
Net tax benefits, impact, amount	$ 6	$ 3	$ 12	$ 11
Net tax benefits, impact percentage	2.20%	1.10%	1.40%	1.30%

Nonoperating Income (Expense) (

Nonoperating Income (Expense) (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2023	Sep. 30, 2022	Sep. 29, 2023	Sep. 30, 2022
Other Income and Expenses [Abstract]
Other components of net periodic benefits cost (less than)	$ 1	$ 1	$ 1	$ 1
Impairment of equity method investment			$ (15)	$ 0

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets (Rollforward of Goodwill) (Details) $ in Millions	9 Months Ended
	Sep. 29, 2023 USD ($)
Goodwill [Roll Forward]
Balance, beginning of period	$ 2,476
Adjustments due to finalization of purchase price allocations	1
Foreign currency translation and other	3
Balance, end of period	$ 2,480

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets (Goodwill by Segment) (Details) - USD ($) $ in Millions	Sep. 29, 2023	Dec. 31, 2022
Goodwill [Line Items]
Total goodwill	$ 2,480	$ 2,476
Operating segments | Water Quality
Goodwill [Line Items]
Total goodwill	1,282	1,277
Operating segments | Product Quality & Innovation
Goodwill [Line Items]
Total goodwill	$ 1,198	$ 1,199

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets (Narrative) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 29, 2023	Sep. 30, 2022	Sep. 29, 2023	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Impairment charges	$ 6,000,000	$ 0	$ 12,000,000	$ 9,000,000

Fair Value Measurements (Carryi

Fair Value Measurements (Carrying Amounts and Fair Values of Other Financial Instruments) (Details) $ in Millions	Sep. 29, 2023 USD ($)
Carrying Amount
Debt Obligations:
Long-term debt	$ 2,604
Fair Value
Debt Obligations:
Long-term debt	$ 2,587

Financing (Components of Debt)

Financing (Components of Debt) (Details) € in Millions, $ in Millions	Sep. 29, 2023 USD ($)	Sep. 29, 2023 EUR (€)
Debt Instrument [Line Items]
Total debt	$ 2,604
5.50% Senior Unsecured Notes Due September 2026 | Senior notes
Debt Instrument [Line Items]
Interest rate of debt instrument	5.50%	5.50%
Aggregate principal amount	$ 700
Total debt	$ 695
5.35% Senior Unsecured Notes Due September 2028 | Senior notes
Debt Instrument [Line Items]
Interest rate of debt instrument	5.35%	5.35%
Aggregate principal amount	$ 700
Total debt	$ 694
4.15% Senior Unsecured Notes Due September 2031 | Senior notes
Debt Instrument [Line Items]
Interest rate of debt instrument	4.15%	4.15%
Aggregate principal amount | €		€ 500
Total debt	$ 523
5.45% Senior Unsecured Notes Due September 2033 | Senior notes
Debt Instrument [Line Items]
Interest rate of debt instrument	5.45%	5.45%
Aggregate principal amount	$ 700
Total debt	$ 692

Financing (Narrative) (Details)

Financing (Narrative) (Details) € in Millions				1 Months Ended
	Sep. 29, 2023 USD ($)	Aug. 31, 2023 USD ($)	Aug. 11, 2023	Sep. 29, 2023 USD ($)	Sep. 29, 2023 EUR (€)
Debt Instrument [Line Items]
Debt discounts, premiums and debt issuance costs	$ 25,000,000			$ 25,000,000
Senior notes
Debt Instrument [Line Items]
Redemption price, percent				101%
USD Notes | Senior notes
Debt Instrument [Line Items]
Aggregate principal amount	2,100,000,000			$ 2,100,000,000
4.15% Senior Unsecured Notes Due September 2031 | Senior notes
Debt Instrument [Line Items]
Aggregate principal amount | €					€ 500
Five-Year Facility | Bridge Loan
Debt Instrument [Line Items]
Line of credit		$ 100,000,000
Five-Year Facility | Revolving credit facility
Debt Instrument [Line Items]
Outstanding under Credit Facility	$ 0			$ 0
Line of credit facility, commitment fee percentage	0.09%
Five-Year Facility | Revolving credit facility | Minimum
Debt Instrument [Line Items]
Line of credit facility, commitment fee percentage		0.08%
Five-Year Facility | Revolving credit facility | Maximum
Debt Instrument [Line Items]
Line of credit facility, commitment fee percentage		0.20%
Five-Year Facility | Revolving credit facility | Fed funds rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			0.05%
Five-Year Facility | Revolving credit facility | Line of Credit
Debt Instrument [Line Items]
Credit Agreement term		5 years
Line of credit		$ 1,500,000,000
Consolidated net leverage ratio, maximum		3.75
Five-Year Facility | Revolving credit facility | SOFR Rate Loans | SOFR | Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		0.795%
Five-Year Facility | Revolving credit facility | SOFR Rate Loans | SOFR | Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		1.30%
Five-Year Facility | Revolving credit facility | Base Rate Loans and Swing Line Loans | SOFR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		1%
Five-Year Facility | Revolving credit facility | Base Rate Loans and Swing Line Loans | Fixed 1% Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		1%
Five-Year Facility | Revolving credit facility | Base Rate Loans and Swing Line Loans | Fixed 1% Rate | Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		0%
Five-Year Facility | Revolving credit facility | Base Rate Loans and Swing Line Loans | Fixed 1% Rate | Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		0.30%
Five-Year Facility | Revolving credit facility | Alternative Currency Loans | EURIBOR | Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		0.795%
Five-Year Facility | Revolving credit facility | Alternative Currency Loans | EURIBOR | Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		1.30%
Five-Year Facility | Revolving Credit Facility, Alternative Currency Sublimit | Line of Credit
Debt Instrument [Line Items]
Alternate currency sublimit percentage equal to aggregate commitment		90%

Hedging Transactions (Summary o

Hedging Transactions (Summary of Notional Values and Pretax Impact in Fair Values of Net Investment Hedges and Cash Flow Hedges) (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 29, 2023	Sep. 29, 2023
Derivative Instruments, Gain (Loss) [Line Items]
Net investment hedges, gain (loss), recognized in OCI		$ 4
Amounts Reclassified from OCI		0
Net investment hedges | Foreign currency denominated debt
Derivative Instruments, Gain (Loss) [Line Items]
Nonderivative, notional amount	$ 523	$ 523
Net investment hedges, gain (loss), recognized in OCI	4
Amounts Reclassified from OCI	$ 0

Defined Benefit Plans (Componen

Defined Benefit Plans (Components of Net Periodic Benefit Cost of Defined Benefit Pension Plans) (Details) - Defined benefit pension plans - Foreign Plan - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2023	Sep. 30, 2022	Sep. 29, 2023	Sep. 30, 2022
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ (1)	$ (1)	$ (3)	$ (4)
Interest cost	(1)	(1)	(3)	(1)
Expected return on plan assets	1	1	3	2
Amortization of actuarial (loss) gain	0	0	0	(1)
Net periodic benefit (cost)	$ (1)	$ (1)	$ (3)	$ (4)

Defined Benefit Plans (Narrativ

Defined Benefit Plans (Narrative) (Details) $ in Millions	Sep. 29, 2023 USD ($)
Defined benefit pension plans | Foreign Plan
Defined Benefit Plan Disclosure [Line Items]
Expected future employer contributions, current fiscal year	$ 5

Commitments and Contingencies (

Commitments and Contingencies (Narrative) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 29, 2023	Dec. 31, 2022
Accrued warranty liabilities	$ 34	$ 32
Maximum
Standard product warranty period	20 years

Parent's Equity and Stock-Bas_3

Parent's Equity and Stock-Based Compensation (Narrative) (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended			9 Months Ended
	Dec. 31, 2023	Sep. 29, 2023	Sep. 30, 2022	Sep. 29, 2023	Sep. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense		$ 13	$ 8	$ 35	$ 30
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense		6	3	$ 16	13
Weighted average period for cost to be recognized				2 years
Total unrecognized compensation cost, options		40		$ 40
RSU/PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense		7	$ 5	19	$ 17
Total unrecognized compensation cost excluding options		$ 35		$ 35
Weighted average period for cost to be recognized				2 years
2007 Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common shares reserved for issuance (in shares)		41		41
2023 Omnibus Incentive Plan | Stock options | Subsequent event
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation cost	$ 12
Compensation expense	6
Compensation expense to be recognized over remaining service period	$ 6

Parent's Equity and Stock-Bas_4

Parent's Equity and Stock-Based Compensation (Components of Stock-Based Compensation Program) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2023	Sep. 30, 2022	Sep. 29, 2023	Sep. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pretax compensation expense	$ 13	$ 8	$ 35	$ 30
Income tax benefit	(1)	(1)	(4)	(5)
Total stock-based compensation expense, net of income taxes	12	7	31	25
RSU/PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pretax compensation expense	7	5	19	17
Income tax benefit	0	(1)	(1)	(3)
Total stock-based compensation expense, net of income taxes	7	4	18	14
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pretax compensation expense	6	3	16	13
Income tax benefit	(1)	0	(3)	(2)
Total stock-based compensation expense, net of income taxes	$ 5	$ 3	$ 13	$ 11

Parent's Equity and Stock-Bas_5

Parent's Equity and Stock-Based Compensation (Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2023	Sep. 30, 2022	Sep. 29, 2023	Sep. 30, 2022
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance			$ 3,235
Other comprehensive income (loss) before reclassifications:
Decrease				$ (212)
Income tax impact				0
Other comprehensive income (loss) before reclassifications, net of income taxes				(212)
Reclassification adjustments:
Increase				1
Reclassification adjustments, net of income taxes				1
Other comprehensive income (loss) net of tax
Decrease	$ (58)	$ (97)	(30)
Income tax impact	(1)		(1)
Total other comprehensive income (loss), net of income taxes	(59)	(97)	(31)	(211)
Ending balance	1,038		1,038
Foreign Currency Translation Adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(940)	(983)	(968)	(868)
Other comprehensive income (loss) before reclassifications:
Decrease				(212)
Income tax impact				0
Other comprehensive income (loss) before reclassifications, net of income taxes				(212)
Reclassification adjustments:
Increase				0
Reclassification adjustments, net of income taxes				0
Other comprehensive income (loss) net of tax
Decrease	(62)	(97)	(34)
Income tax impact	0		0
Total other comprehensive income (loss), net of income taxes	(62)	(97)	(34)	(212)
Ending balance	(1,002)	(1,080)	(1,002)	(1,080)
Net Investment Hedges
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	0	0	0	0
Other comprehensive income (loss) before reclassifications:
Decrease				0
Income tax impact				0
Other comprehensive income (loss) before reclassifications, net of income taxes				0
Reclassification adjustments:
Increase				0
Reclassification adjustments, net of income taxes				0
Other comprehensive income (loss) net of tax
Decrease	4	0	4
Income tax impact	(1)		(1)
Total other comprehensive income (loss), net of income taxes	3	0	3	0
Ending balance	3	0	3	0
Pension and Postretirement Plan Benefit Adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	14	(18)	14	(19)
Other comprehensive income (loss) before reclassifications:
Decrease				0
Income tax impact				0
Other comprehensive income (loss) before reclassifications, net of income taxes				0
Reclassification adjustments:
Increase				1
Reclassification adjustments, net of income taxes				1
Other comprehensive income (loss) net of tax
Decrease	0	0	0
Income tax impact	0		0
Total other comprehensive income (loss), net of income taxes	0	0	0	1
Ending balance	14	(18)	14	(18)
Accumulated Comprehensive Income (Loss)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(926)	(1,001)	(954)	(887)
Other comprehensive income (loss) net of tax
Total other comprehensive income (loss), net of income taxes	(59)	(97)	(31)	(211)
Ending balance	$ (985)	$ (1,098)	$ (985)	$ (1,098)

Related Party Transactions (Exp

Related Party Transactions (Expenses Allocated) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2023	Sep. 30, 2022	Sep. 29, 2023	Sep. 30, 2022
Related Party Transaction [Line Items]
Total related-party expenses	$ 41	$ 36	$ 115	$ 107
Related Party
Related Party Transaction [Line Items]
Allocated Corporate Expenses	15	12	42	35
Insurance programs expenses	2	2	6	5
Medical insurance programs expenses	23	22	64	65
Deferred compensation program expenses	$ 1	$ 0	$ 3	$ 2

Related Party Transactions (Nar

Related Party Transactions (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2023	Sep. 30, 2022	Sep. 29, 2023	Sep. 30, 2022
Related Party
Related Party Transaction [Line Items]
Revenues	$ 7	$ 6	$ 21	$ 17