$FTV
Fortive Corp

2017 Q2 Form 10-Q Financial Statement

#000165916617000200 Filed on July 27, 2017

View on sec.gov

Income Statement

Concept 2017 Q2
Revenue $1.629B
YoY Change 10.45%
Cost Of Revenue $823.7M
YoY Change 5.67%
Gross Profit $708.8M
YoY Change 1.96%
Gross Profit Margin 43.52%
Selling, General & Admin $356.9M
YoY Change 5.44%
% of Gross Profit 50.35%
Research & Development $99.10M
YoY Change 5.76%
% of Gross Profit 13.98%
Depreciation & Amortization $37.10M
YoY Change 72.56%
% of Gross Profit 5.23%
Operating Expenses $456.0M
YoY Change 5.51%
Operating Profit $292.9M
YoY Change 11.37%
Interest Expense $22.70M
YoY Change
% of Operating Profit 7.75%
Other Income/Expense, Net
YoY Change
Pretax Income $325.6M
YoY Change 23.8%
Income Tax $85.50M
% Of Pretax Income 26.26%
Net Earnings $240.1M
YoY Change 31.92%
Net Earnings / Revenue 14.74%
Basic Earnings Per Share $0.69
Diluted Earnings Per Share $0.68
COMMON SHARES
Basic Shares Outstanding 347.2M shares
Diluted Shares Outstanding 352.2M shares

Balance Sheet

Concept 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $968.0M
YoY Change
Cash & Equivalents $968.4M
Short-Term Investments
Other Short-Term Assets $188.0M
YoY Change 113.64%
Inventory $560.6M
Prepaid Expenses
Receivables $985.0M
Other Receivables $0.00
Total Short-Term Assets $2.702B
YoY Change 71.86%
LONG-TERM ASSETS
Property, Plant & Equipment $562.8M
YoY Change 8.44%
Goodwill $4.032B
YoY Change
Intangibles $729.8M
YoY Change
Long-Term Investments
YoY Change
Other Assets $440.7M
YoY Change 10.45%
Total Long-Term Assets $5.765B
YoY Change 2.21%
TOTAL ASSETS
Total Short-Term Assets $2.702B
Total Long-Term Assets $5.765B
Total Assets $8.467B
YoY Change 17.39%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $649.0M
YoY Change 3.67%
Accrued Expenses $722.2M
YoY Change 16.67%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.371B
YoY Change 10.19%
LONG-TERM LIABILITIES
Long-Term Debt $3.208B
YoY Change
Other Long-Term Liabilities $715.2M
YoY Change 1.16%
Total Long-Term Liabilities $3.923B
YoY Change 454.92%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.371B
Total Long-Term Liabilities $3.923B
Total Liabilities $5.294B
YoY Change 170.8%
SHAREHOLDERS EQUITY
Retained Earnings $794.2M
YoY Change
Common Stock $3.500M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.170B
YoY Change
Total Liabilities & Shareholders Equity $8.467B
YoY Change 17.39%

Cashflow Statement

Concept 2017 Q2
OPERATING ACTIVITIES
Net Income $240.1M
YoY Change 31.92%
Depreciation, Depletion And Amortization $37.10M
YoY Change 72.56%
Cash From Operating Activities $245.7M
YoY Change 38.66%
INVESTING ACTIVITIES
Capital Expenditures -$28.80M
YoY Change -201.41%
Acquisitions
YoY Change
Other Investing Activities -$2.400M
YoY Change 20.0%
Cash From Investing Activities -$31.20M
YoY Change -20.41%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -80.70M
YoY Change -41.52%
NET CHANGE
Cash From Operating Activities 245.7M
Cash From Investing Activities -31.20M
Cash From Financing Activities -80.70M
Net Change In Cash 133.8M
YoY Change
FREE CASH FLOW
Cash From Operating Activities $245.7M
Capital Expenditures -$28.80M
Free Cash Flow $274.5M
YoY Change 84.48%

Facts In Submission

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us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
61400000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
55600000 USD
CY2016Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2017Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2016Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
15000000 shares
CY2017Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
15000000 shares
CY2016Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2017Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2016Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
195500000 USD
CY2017Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
187700000 USD
us-gaap Proceeds From Debt Maturing In More Than Three Months
ProceedsFromDebtMaturingInMoreThanThreeMonths
3370100000 USD
us-gaap Proceeds From Debt Maturing In More Than Three Months
ProceedsFromDebtMaturingInMoreThanThreeMonths
0 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
0 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
7300000 USD
us-gaap Proceeds From Repayments Of Short Term Debt Maturing In Three Months Or Less
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0 USD
us-gaap Proceeds From Repayments Of Short Term Debt Maturing In Three Months Or Less
ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess
-158800000 USD
CY2016Q4 us-gaap Product Warranty Accrual
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65000000 USD
CY2017Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
66900000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
34100000 USD
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
35800000 USD
CY2016Q3 us-gaap Profit Loss
ProfitLoss
238900000 USD
us-gaap Profit Loss
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420900000 USD
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240100000 USD
us-gaap Profit Loss
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439800000 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
547600000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
42.51
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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1800000 shares
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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302400000 USD
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
10700000 shares
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
11600000 shares
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
33.23
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
37.40
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
295800000 USD
CY2017Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
562800000 USD
CY2016Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
96700000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
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CY2017Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
99100000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
195300000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
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403000000 USD
CY2017Q2 us-gaap Retained Earnings Accumulated Deficit
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794200000 USD
CY2016Q3 us-gaap Sales Revenue Net
SalesRevenueNet
1555100000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
3029800000 USD
CY2017Q2 us-gaap Sales Revenue Net
SalesRevenueNet
1628800000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
3164000000 USD
CY2016Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
349300000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
687800000 USD
CY2017Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
357700000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
710600000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
22400000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
25300000 USD
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
5100000 shares
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
27.25
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
25000000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
200000 shares
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
11200000 shares
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
36.16
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
23.50
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
57.41
CY2017Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
183800000 USD
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P4Y8M
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P6Y6M
us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2
P6Y8M
us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
133000 shares
us-gaap Standard And Extended Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardAndExtendedProductWarrantyAccrualForeignCurrencyTranslationGainLoss
-200000 USD
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
700000 shares
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
2687900000 USD
CY2017Q2 us-gaap Stockholders Equity
StockholdersEquity
3169500000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2691000000 USD
CY2017Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3173000000 USD
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
345200000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
345200000 shares
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
352200000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
351800000 shares
CY2016Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
345200000 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
345200000 shares
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
345200000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
345200000 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
347200000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
347100000 shares

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