v3.8.0.1

Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Stock-Based Compensation Costs

The following summarizes the components of our stock-based compensation expense under the Stock Plan and the Danaher Plans for the years ended December 31 ($ in millions):

	2017				2016				2015
Stock Awards:
Pretax compensation expense	$	29.4			$	28.1			$	22.5
Income tax benefit	(9.6		)		(9.3		)		(7.5		)
Stock Award expense, net of income taxes	19.8				18.8				15.0
Stock options:
Pretax compensation expense	19.2				17.2				12.7
Income tax benefit	(6.4		)		(5.8		)		(4.3		)
Stock option expense, net of income taxes	12.8				11.4				8.4
Total stock-based compensation:
Pretax compensation expense	48.6				45.3				35.2
Income tax benefit	(16.0		)		(15.1		)		(11.8		)
Total stock-based compensation expense, net of income taxes	$	32.6			$	30.2			$	23.4

The following summarizes aggregate intrinsic value and cash receipts related to stock option exercise activity under the Stock Plan and the Danaher Plans for the years ended December 31 (in millions):

	2017				2016				2015
Aggregate intrinsic value of stock options exercised	$	50.3			$	77.5			$	73.4
Cash receipts from stock options exercised(a)	$	31.2			$	59.9			$	51.2
(a) Cash receipts prior to the Separation were recorded as an increase to Former Parent's Investment. These amounts were $53.3 million in 2016 and $51.2 million in 2015.

Schedule of Future Compensation

The following summarizes the unrecognized compensation cost for the Stock Plan awards as of December 31, 2017. This compensation cost is expected to be recognized over a weighted average period of approximately three years, representing the remaining service period related to the awards. Future compensation amounts will be adjusted for any changes in estimated forfeitures ($ in millions):

Stock Awards	$	39.5
Stock options	40.4
Total unrecognized compensation cost	$	79.9

Schedule of Assumptions Used

The following summarizes the assumptions used in the Black-Scholes model to value stock options granted under the Stock Plan and the Danaher Plans during the years ended December 31:

	2017			2016			2015
Risk-free interest rate	1.90% - 2.26%			1.21% - 1.77%			1.6% - 2.2%
Volatility (a)	20.9	%		24.3	%		24.3	%
Dividend yield (b)	0.5	%		0.6	%		0.6	%
Expected years until exercise	5.5 - 8.0			5.5 - 8.0			5.5 - 8.0
(a) Weighted average volatility post-Separation was estimated based on an average historical stock price volatility of a group of peer companies given our limited trading history. Weighted average volatility for periods prior to the Separation was based on implied volatility from traded options on Danaher’s stock and the historical volatility of Danaher’s stock.
(b) The dividend yield post-Separation is calculated by dividing our annual dividend, based on the most recent quarterly dividend rate, by Fortive’s closing stock price on the grant date. The dividend yields for periods prior to the Separation were calculated by dividing Danaher’s annual dividend, based on the most recent quarterly dividend rate, by the closing stock price on the grant date.

Schedule of Stock Option Activity

The following summarizes option activity under the Stock Plan and the Danaher Plans for the years ended December 31, 2017, 2016 and 2015 (in millions, except price per share and numbers of years):

	Options			Weighted Average Exercise Price				Weighted  Average Remaining Contractual Term (years)		Aggregate Intrinsic Value
Outstanding as of January 1, 2015	6.3			$	47.66
Granted	0.9			87.96
Exercised	(1.2	)		35.28
Canceled/forfeited	(0.2	)		58.77
Outstanding as of December 31, 2015	5.8			56.00
Granted	1.8
Exercised	(1.6	)
Canceled/forfeited	(0.8	)
Aggregate impact of conversion related to the Separation (a)	5.5
Outstanding as of December 31, 2016	10.7			33.23
Granted	1.9			58.07
Exercised	(1.2	)		24.77
Canceled/forfeited	(0.5	)		45.12
Outstanding as of December 31, 2017	10.9			$	38.09			6.3		$	372.8
Vested and expected to vest as of December 31, 2017 (b)	10.6			$	37.66			6.2		$	365.3
Vested as of December 31, 2017	5.2			$	28.64			4.5		$	228.5
(a) The “Aggregate impact of conversion related to the Separation” represents the additional stock options issued as a result of the Separation by applying the “concentration method” to convert employee options based on the ratio of the fair value of Danaher and Fortive common stock calculated using the closing prices as of July 1, 2016.
(b) The “expected to vest” options are the net unvested options that remain after applying the forfeiture rate assumption to total unvested options.

Schedule of Stock Options by Exercise Price Range

Options outstanding as of December 31, 2017 are summarized below (in millions; except price per share and numbers of years):

	Outstanding									Vested
Exercise Price	Shares			Average Exercise Price				Average Remaining Life (in years)		Shares			Average Exercise Price
$12.83 - $23.78	1.4			$	17.11			2		1.4			$	17.11
$23.79 - $29.75	1.6			25.00				4		1.6			25.00
$29.76 - $42.17	2.4			34.77				6		1.4			34.26
$42.18 - $57.25	3.7			43.73				8		0.8			43.77
$57.26 - $71.85	1.8			$	58.11			9		—			$	—
Total shares	10.9									5.2

Schedule of Stock Unit Activity

The following summarizes information related to Stock Award activity under the Stock Plan and the Danaher Plans for the years ended December 31, 2017, 2016 and 2015 (in millions; except price per share):

	Number of Stock Awards			Weighted Average Grant-Date Fair Value
Unvested as of January 1, 2015	1.1			$	61.75
Granted	0.3			86.14
Vested	(0.2	)		51.56
Forfeited	(0.1	)		64.58
Unvested as of December 31, 2015	1.1			72.24
Granted	0.6
Vested	(0.4	)
Forfeited	(0.3	)
Aggregate impact of conversion related to the Separation (a)	1.2
Unvested as of December 31, 2016	2.2			39.20
Granted	0.6			57.79
Vested	(0.7	)		35.96
Forfeited	(0.1	)		43.94
Unvested as of December 31, 2017	2.0			$	45.92
(a) The “Aggregate impact of conversion related to the Separation” represents the additional Stock Awards issued as a result of the Separation by applying the “concentration method” to convert Stock Awards based on the ratio of the fair value of Danaher and Fortive common stock calculated using the closing prices as of July 1, 2016.

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Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
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Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms.

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Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year.

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.

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Tabular disclosure of the total compensation cost related to nonvested awards not yet recognized and the weighted-average period over which it is expected to be recognized.

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