$FTV
Fortive Corp

2016 Q4 Form 10-Q Financial Statement

#000165916616000046 Filed on October 27, 2016

View on sec.gov

Income Statement

Concept 2016 Q4 2016 Q3 2015 Q4
Revenue $1.627B $1.567B $1.576B
YoY Change 3.26% 0.16% -6.61%
Cost Of Revenue $331.7M $794.5M $818.5M
YoY Change -59.47% -0.7% -7.2%
Gross Profit $796.6M $772.9M $757.3M
YoY Change 5.19% 1.06% -5.97%
Gross Profit Margin 48.96% 49.31% 48.06%
Selling, General & Admin $230.5M $354.5M $328.2M
YoY Change -29.77% 6.39% -15.69%
% of Gross Profit 28.94% 45.87% 43.34%
Research & Development $65.40M $95.20M $91.00M
YoY Change -28.13% -0.73% -6.28%
% of Gross Profit 8.21% 12.32% 12.02%
Depreciation & Amortization $27.00M $44.90M $43.60M
YoY Change -38.07% 0.0% 3.32%
% of Gross Profit 3.39% 5.81% 5.76%
Operating Expenses $295.9M $449.7M $419.2M
YoY Change -29.41% 4.8% -13.82%
Operating Profit $337.7M $323.2M $338.1M
YoY Change -0.12% -3.72% 5.99%
Interest Expense -$20.30M $23.40M $0.00
YoY Change
% of Operating Profit -6.01% 7.24% 0.0%
Other Income/Expense, Net -$4.800M
YoY Change
Pretax Income $128.3M $299.8M $301.8M
YoY Change -57.49% -10.69% -5.39%
Income Tax $35.90M $72.90M $105.2M
% Of Pretax Income 27.98% 24.32% 34.86%
Net Earnings $224.5M $226.9M $236.1M
YoY Change -4.91% -0.22% 3.15%
Net Earnings / Revenue 13.8% 14.48% 14.98%
Basic Earnings Per Share $0.65 $0.66 $0.57
Diluted Earnings Per Share $0.64 $0.65 $0.57
COMMON SHARES
Basic Shares Outstanding 345.7M shares 346.0M shares 345.2M shares
Diluted Shares Outstanding 349.2M shares 345.2M shares

Balance Sheet

Concept 2016 Q4 2016 Q3 2015 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $803.0M $487.0M
YoY Change
Cash & Equivalents $803.2M $724.8M $0.00
Short-Term Investments
Other Short-Term Assets $196.0M $169.0M $231.0M
YoY Change -15.15% 6.94%
Inventory $544.6M $558.1M $522.9M
Prepaid Expenses
Receivables $945.4M $972.0M $979.3M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.489B $2.359B $1.594B
YoY Change 56.12% -5.28%
LONG-TERM ASSETS
Property, Plant & Equipment $547.6M $538.3M $514.8M
YoY Change 6.37% 7.03%
Goodwill $3.445B $4.048B $3.949B
YoY Change -12.76% -1.15%
Intangibles $747.3M $775.8M $759.0M
YoY Change -1.54%
Long-Term Investments
YoY Change
Other Assets $427.2M $412.0M $393.7M
YoY Change 8.51% 16.14%
Total Long-Term Assets $5.701B $5.774B $5.617B
YoY Change 1.51% -0.99%
TOTAL ASSETS
Total Short-Term Assets $2.489B $2.359B $1.594B
Total Long-Term Assets $5.701B $5.774B $5.617B
Total Assets $8.190B $8.133B $7.211B
YoY Change 13.58% -1.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $666.0M $644.0M $610.0M
YoY Change 9.18% -2.09%
Accrued Expenses $800.3M $749.6M $666.4M
YoY Change 20.09% 0.66%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.467B $1.369B $1.324B
YoY Change 10.8% 3.0%
LONG-TERM LIABILITIES
Long-Term Debt $3.358B $3.509B $0.00
YoY Change
Other Long-Term Liabilities $674.3M $695.6M $704.6M
YoY Change -4.3% -15.92%
Total Long-Term Liabilities $4.032B $4.205B $704.6M
YoY Change 472.28% -15.92%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.467B $1.369B $1.324B
Total Long-Term Liabilities $4.032B $4.205B $704.6M
Total Liabilities $5.499B $5.574B $2.028B
YoY Change 171.13% -4.6%
SHAREHOLDERS EQUITY
Retained Earnings $403.0M $202.7M $0.00
YoY Change
Common Stock $3.500M $3.500M $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.688B $2.556B $5.180B
YoY Change
Total Liabilities & Shareholders Equity $8.190B $8.133B $7.211B
YoY Change 13.58% -1.98%

Cashflow Statement

Concept 2016 Q4 2016 Q3 2015 Q4
OPERATING ACTIVITIES
Net Income $224.5M $226.9M $236.1M
YoY Change -4.91% -0.22% 3.15%
Depreciation, Depletion And Amortization $27.00M $44.90M $43.60M
YoY Change -38.07% 0.0% 3.32%
Cash From Operating Activities $317.5M $310.6M $236.3M
YoY Change 34.36% 7.03% -41.61%
INVESTING ACTIVITIES
Capital Expenditures -$20.10M -$33.00M -$34.60M
YoY Change -41.91% 16.61% 10.9%
Acquisitions
YoY Change
Other Investing Activities -$14.40M $2.400M $400.0K
YoY Change -3700.0% 2300.0% -95.51%
Cash From Investing Activities -$34.50M -$30.60M -$34.20M
YoY Change 0.88% 8.51% 53.36%
FINANCING ACTIVITIES
Cash Dividend Paid $3.000B
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -177.0M 207.2M -202.1M
YoY Change -12.42% -179.08% -47.15%
NET CHANGE
Cash From Operating Activities 317.5M 310.6M 236.3M
Cash From Investing Activities -34.50M -30.60M -34.20M
Cash From Financing Activities -177.0M 207.2M -202.1M
Net Change In Cash 106.0M 487.2M 0.000
YoY Change -100.0%
FREE CASH FLOW
Cash From Operating Activities $317.5M $310.6M $236.3M
Capital Expenditures -$20.10M -$33.00M -$34.60M
Free Cash Flow $337.6M $343.6M $270.9M
YoY Change 24.62% 7.88% -37.85%

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