| (Mark One) | |||||
| x | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | ||||
| or | |||||
| ☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | ||||
| For the transition period from to | |||||
| Delaware | 84-2783455 | |||||||
| (State or other jurisdiction of incorporation or organization) | (I.R.S. employer identification number) | |||||||
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
| Common stock, par value $0.0001 per share | VNT | New York Stock Exchange | ||||||
| Large accelerated filer | x | Accelerated filer | ☐ | |||||||||||||||||
| Non-accelerated filer | ☐ | Smaller reporting company | ☐ | |||||||||||||||||
| Emerging growth company | ☐ | |||||||||||||||||||
| Page | ||||||||
| June 30, 2023 | December 31, 2022 | ||||||||||
| (unaudited) | |||||||||||
| ASSETS | |||||||||||
| Current assets: | |||||||||||
| Cash and cash equivalents | $ | 244.0 | $ | 204.5 | |||||||
Accounts receivable, less allowance for credit losses of $34.9 million and $34.2 million as of June 30, 2023 and December 31, 2022, respectively | 490.9 | 514.8 | |||||||||
| Inventories | 329.2 | 346.0 | |||||||||
| Prepaid expenses and other current assets | 158.6 | 152.8 | |||||||||
| Equity securities measured at fair value | — | 21.3 | |||||||||
| Current assets held for sale | 53.5 | 145.6 | |||||||||
| Total current assets | 1,276.2 | 1,385.0 | |||||||||
| Property, plant and equipment, net | 94.5 | 92.1 | |||||||||
| Operating lease right-of-use assets | 42.0 | 44.5 | |||||||||
Long-term financing receivables, less allowance for credit losses of $33.3 million and $37.7 million as of June 30, 2023 and December 31, 2022, respectively | 265.0 | 249.8 | |||||||||
| Other intangible assets, net | 606.6 | 649.7 | |||||||||
| Goodwill | 1,733.9 | 1,738.7 | |||||||||
| Other assets | 187.4 | 183.5 | |||||||||
| Total assets | $ | 4,205.6 | $ | 4,343.3 | |||||||
| LIABILITIES AND EQUITY | |||||||||||
| Current liabilities: | |||||||||||
| Short-term borrowings | $ | 8.7 | $ | 4.6 | |||||||
| Trade accounts payable | 353.9 | 430.9 | |||||||||
| Current operating lease liabilities | 12.9 | 13.8 | |||||||||
| Accrued expenses and other current liabilities | 441.7 | 437.6 | |||||||||
| Current liabilities held for sale | 29.0 | 43.0 | |||||||||
| Total current liabilities | 846.2 | 929.9 | |||||||||
| Long-term operating lease liabilities | 31.8 | 34.0 | |||||||||
| Long-term debt | 2,422.4 | 2,585.7 | |||||||||
| Other long-term liabilities | 203.8 | 214.2 | |||||||||
| Total liabilities | 3,504.2 | 3,763.8 | |||||||||
| Commitments and Contingencies (Note 10) | |||||||||||
| Equity: | |||||||||||
Preferred stock, 15.0 million shares authorized; no par value; no shares issued and outstanding | — | — | |||||||||
Common stock, 2.0 billion shares authorized; $0.0001 par value; 170.3 million and 169.7 million shares issued, and 154.6 million and 156.0 million outstanding as of June 30, 2023 and December 31, 2022, respectively | — | — | |||||||||
Treasury stock, at cost, 15.7 million and 13.7 million shares as of June 30, 2023 and December 31, 2022, respectively | (378.5) | (328.0) | |||||||||
| Additional paid-in capital | 37.8 | 27.6 | |||||||||
| Retained earnings | 943.1 | 770.8 | |||||||||
| Accumulated other comprehensive income | 94.1 | 106.1 | |||||||||
| Total Vontier stockholders’ equity | 696.5 | 576.5 | |||||||||
| Noncontrolling interests | 4.9 | 3.0 | |||||||||
| Total equity | 701.4 | 579.5 | |||||||||
| Total liabilities and equity | $ | 4,205.6 | $ | 4,343.3 | |||||||
| Three Months Ended | Six Months Ended | ||||||||||||||||||||||
| June 30, 2023 | July 1, 2022 | June 30, 2023 | July 1, 2022 | ||||||||||||||||||||
| Sales | $ | 764.4 | $ | 776.4 | $ | 1,540.8 | $ | 1,524.5 | |||||||||||||||
| Cost of sales | (416.3) | (428.3) | (839.7) | (841.1) | |||||||||||||||||||
| Gross profit | 348.1 | 348.1 | 701.1 | 683.4 | |||||||||||||||||||
| Operating costs: | |||||||||||||||||||||||
| Selling, general and administrative expenses | (187.2) | (176.7) | (365.4) | (342.7) | |||||||||||||||||||
| Research and development expenses | (40.3) | (34.9) | (81.3) | (69.4) | |||||||||||||||||||
| Operating profit | 120.6 | 136.5 | 254.4 | 271.3 | |||||||||||||||||||
| Non-operating income (expense), net: | |||||||||||||||||||||||
| Interest expense, net | (23.9) | (15.3) | (47.9) | (28.2) | |||||||||||||||||||
| Gain on sale of business | 34.1 | — | 34.1 | — | |||||||||||||||||||
| Gain on previously held equity interests from combination of business | — | — | — | 32.7 | |||||||||||||||||||
| Unrealized (loss) gain on equity securities measured at fair value | — | (80.0) | — | 83.0 | |||||||||||||||||||
| Other non-operating expense, net | (0.5) | — | (1.4) | (0.1) | |||||||||||||||||||
| Earnings before income taxes | 130.3 | 41.2 | 239.2 | 358.7 | |||||||||||||||||||
| Provision for income taxes | (33.0) | (7.9) | (59.1) | (75.2) | |||||||||||||||||||
| Net earnings | $ | 97.3 | $ | 33.3 | $ | 180.1 | $ | 283.5 | |||||||||||||||
| Net earnings per share: | |||||||||||||||||||||||
| Basic | $ | 0.63 | $ | 0.21 | $ | 1.16 | $ | 1.74 | |||||||||||||||
| Diluted | $ | 0.62 | $ | 0.21 | $ | 1.15 | $ | 1.73 | |||||||||||||||
| Weighted average shares outstanding: | |||||||||||||||||||||||
| Basic | 155.4 | 160.5 | 155.5 | 163.2 | |||||||||||||||||||
| Diluted | 156.3 | 161.2 | 156.2 | 163.9 | |||||||||||||||||||
| Net earnings | $ | 97.3 | $ | 33.3 | $ | 180.1 | $ | 283.5 | |||||||||||||||
| Other comprehensive income (loss), net of income taxes: | |||||||||||||||||||||||
| Foreign currency translation adjustments | (8.3) | (63.1) | (12.1) | (78.2) | |||||||||||||||||||
| Other adjustments | — | 0.1 | 0.1 | 0.2 | |||||||||||||||||||
| Total other comprehensive loss, net of income taxes | (8.3) | (63.0) | (12.0) | (78.0) | |||||||||||||||||||
| Comprehensive income (loss) | $ | 89.0 | $ | (29.7) | $ | 168.1 | $ | 205.5 | |||||||||||||||
| Common Stock | Treasury Stock | Additional Paid-In Capital | Retained Earnings | Accumulated Other Comprehensive Income | Noncontrolling Interests | Total | |||||||||||||||||||||||||||||||||||||||||||||||
| Shares | Amount | Shares | Amount | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Balance, December 31, 2022 | 169.7 | $ | — | 13.7 | $ | (328.0) | $ | 27.6 | $ | 770.8 | $ | 106.1 | $ | 3.0 | $ | 579.5 | |||||||||||||||||||||||||||||||||||||
| Net earnings | — | — | — | — | — | 82.8 | — | — | 82.8 | ||||||||||||||||||||||||||||||||||||||||||||
Dividends on common stock ($0.025 per share) | — | — | — | — | — | (3.9) | — | — | (3.9) | ||||||||||||||||||||||||||||||||||||||||||||
| Other comprehensive loss, net of income taxes | — | — | — | — | — | — | (3.7) | — | (3.7) | ||||||||||||||||||||||||||||||||||||||||||||
| Stock-based compensation expense | — | — | — | — | 6.1 | — | — | 0.7 | 6.8 | ||||||||||||||||||||||||||||||||||||||||||||
| Common stock-based award activity, net of shares for tax withholding | 0.5 | — | — | — | (3.1) | — | — | — | (3.1) | ||||||||||||||||||||||||||||||||||||||||||||
| Purchase of treasury stock | — | — | 0.9 | (18.4) | — | — | — | — | (18.4) | ||||||||||||||||||||||||||||||||||||||||||||
| Balance, March 31, 2023 | 170.2 | $ | — | 14.6 | $ | (346.4) | $ | 30.6 | $ | 849.7 | $ | 102.4 | $ | 3.7 | $ | 640.0 | |||||||||||||||||||||||||||||||||||||
| Net earnings | — | — | — | — | — | 97.3 | — | — | 97.3 | ||||||||||||||||||||||||||||||||||||||||||||
Dividends on common stock ($0.025 per share) | — | — | — | — | — | (3.9) | — | — | (3.9) | ||||||||||||||||||||||||||||||||||||||||||||
| Other comprehensive loss, net of income taxes | — | — | — | — | — | — | (8.3) | — | (8.3) | ||||||||||||||||||||||||||||||||||||||||||||
| Stock-based compensation expense | — | — | — | — | 7.0 | — | — | 1.5 | 8.5 | ||||||||||||||||||||||||||||||||||||||||||||
| Common stock-based award activity, net of shares for tax withholding | 0.1 | — | — | — | 0.2 | — | — | — | 0.2 | ||||||||||||||||||||||||||||||||||||||||||||
| Purchase of treasury stock | — | — | 1.1 | (32.1) | — | — | — | — | (32.1) | ||||||||||||||||||||||||||||||||||||||||||||
| Change in noncontrolling interests | — | — | — | — | — | — | — | (0.3) | (0.3) | ||||||||||||||||||||||||||||||||||||||||||||
| Balance, June 30, 2023 | 170.3 | $ | — | 15.7 | $ | (378.5) | $ | 37.8 | $ | 943.1 | $ | 94.1 | $ | 4.9 | $ | 701.4 | |||||||||||||||||||||||||||||||||||||
| Common Stock | Treasury Stock | Additional Paid-In Capital | Retained Earnings | Accumulated Other Comprehensive Income | Noncontrolling Interests | Total | |||||||||||||||||||||||||||||||||||||||||||||||
| Shares | Amount | Shares | Amount | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Balance, December 31, 2021 | 169.2 | $ | — | — | $ | — | $ | 1.5 | $ | 386.7 | $ | 181.7 | $ | 3.8 | $ | 573.7 | |||||||||||||||||||||||||||||||||||||
| Net earnings | — | — | — | — | — | 250.2 | — | — | 250.2 | ||||||||||||||||||||||||||||||||||||||||||||
Dividends on common stock ($0.025 per share) | — | — | — | — | — | (4.0) | — | — | (4.0) | ||||||||||||||||||||||||||||||||||||||||||||
| Other comprehensive loss, net of income taxes | — | — | — | — | — | — | (15.0) | — | (15.0) | ||||||||||||||||||||||||||||||||||||||||||||
| Stock-based compensation expense | — | — | — | — | 6.1 | — | — | — | 6.1 | ||||||||||||||||||||||||||||||||||||||||||||
| Common stock-based award activity, net of shares for tax withholding | 0.3 | — | — | — | (2.0) | — | — | — | (2.0) | ||||||||||||||||||||||||||||||||||||||||||||
| Purchase of treasury stock | — | — | 8.5 | (207.0) | — | (50.0) | — | — | (257.0) | ||||||||||||||||||||||||||||||||||||||||||||
| Change in noncontrolling interests | — | — | — | — | — | — | — | (0.1) | (0.1) | ||||||||||||||||||||||||||||||||||||||||||||
| Balance, April 1, 2022 | 169.5 | $ | — | 8.5 | $ | (207.0) | $ | 5.6 | $ | 582.9 | $ | 166.7 | $ | 3.7 | $ | 551.9 | |||||||||||||||||||||||||||||||||||||
| Net earnings | — | — | — | — | — | 33.3 | — | — | 33.3 | ||||||||||||||||||||||||||||||||||||||||||||
Dividends on common stock $0.025 per share) | — | — | — | — | — | (4.0) | — | — | (4.0) | ||||||||||||||||||||||||||||||||||||||||||||
| Other comprehensive loss, net of income taxes | — | — | — | — | — | — | (63.0) | — | (63.0) | ||||||||||||||||||||||||||||||||||||||||||||
| Stock-based compensation expense | — | — | — | — | 7.0 | — | — | — | 7.0 | ||||||||||||||||||||||||||||||||||||||||||||
| Common stock-based award activity, net of shares for tax withholding | — | — | — | — | 0.2 | — | — | — | 0.2 | ||||||||||||||||||||||||||||||||||||||||||||
| Purchase of treasury stock | — | — | 2.3 | (71.0) | — | 50.0 | — | — | (21.0) | ||||||||||||||||||||||||||||||||||||||||||||
| Change in noncontrolling interests and other | — | — | — | — | — | (1.4) | — | (0.3) | (1.7) | ||||||||||||||||||||||||||||||||||||||||||||
| Balance, July 1, 2022 | 169.5 | $ | — | 10.8 | $ | (278.0) | $ | 12.8 | $ | 660.8 | $ | 103.7 | $ | 3.4 | $ | 502.7 | |||||||||||||||||||||||||||||||||||||
| Six Months Ended | |||||||||||
| June 30, 2023 | July 1, 2022 | ||||||||||
| Cash flows from operating activities: | |||||||||||
| Net earnings | $ | 180.1 | $ | 283.5 | |||||||
| Non-cash items: | |||||||||||
| Depreciation and amortization expense | 62.7 | 58.1 | |||||||||
| Stock-based compensation expense | 15.3 | 13.1 | |||||||||
| Amortization of debt issuance costs | 2.0 | 1.7 | |||||||||
| Amortization of acquisition-related inventory fair value step-up | 1.3 | — | |||||||||
| Loss on equity investments | 0.8 | — | |||||||||
| Gain on sale of business | (34.1) | — | |||||||||
| Gain on sale of property | (2.8) | — | |||||||||
| Gain on previously held equity interests from combination of business | — | (32.7) | |||||||||
| Unrealized gain on equity securities measured at fair value | — | (83.0) | |||||||||
| Change in deferred income taxes | (9.3) | 5.0 | |||||||||
| Change in accounts receivable and long-term financing receivables, net | 11.5 | (31.8) | |||||||||
| Change in other operating assets and liabilities | (69.0) | (165.4) | |||||||||
| Net cash provided by operating activities | 158.5 | 48.5 | |||||||||
| Cash flows from investing activities: | |||||||||||
| Proceeds from sale of business, net of cash provided | 106.8 | — | |||||||||
| Cash paid for acquisitions, net of cash received | — | (186.6) | |||||||||
| Payments for additions to property, plant and equipment | (26.1) | (26.5) | |||||||||
| Proceeds from sale of property | 4.3 | 0.2 | |||||||||
| Cash paid for equity investments | (1.9) | (7.3) | |||||||||
| Proceeds from sale of equity securities | 20.4 | — | |||||||||
| Net cash provided by (used in) investing activities | 103.5 | (220.2) | |||||||||
| Cash flows from financing activities: | |||||||||||
| Proceeds from issuance of long-term debt | — | 144.0 | |||||||||
| Repayment of long-term debt | (165.0) | (130.0) | |||||||||
| Net proceeds from short-term borrowings | 3.8 | 5.0 | |||||||||
| Payments of common stock cash dividend | (7.8) | (8.0) | |||||||||
| Purchases of treasury stock | (50.0) | (271.1) | |||||||||
| Proceeds from stock option exercises | 3.1 | 0.6 | |||||||||
| Other financing activities | (6.7) | (3.3) | |||||||||
| Net cash used in financing activities | (222.6) | (262.8) | |||||||||
| Effect of exchange rate changes on cash and cash equivalents | 0.1 | (10.7) | |||||||||
| Net change in cash and cash equivalents | 39.5 | (445.2) | |||||||||
| Beginning balance of cash and cash equivalents | 204.5 | 572.6 | |||||||||
| Ending balance of cash and cash equivalents | $ | 244.0 | $ | 127.4 | |||||||
| ($ in millions) | Driivz | Weighted Average Amortization Period | |||||||||
| Accounts receivable | $ | 1.0 | |||||||||
| Technology | 56.3 | 8.0 | |||||||||
| Customer relationships | 28.1 | 13.0 | |||||||||
| Trade names | 9.2 | 16.0 | |||||||||
| Goodwill | 125.7 | ||||||||||
| Other assets | 2.9 | ||||||||||
| Accrued expenses and other current liabilities | (12.5) | ||||||||||
| Other long-term liabilities | (15.2) | ||||||||||
| Purchase price, net of cash received | $ | 195.5 | |||||||||
| ($ in millions) | June 30, 2023 | December 31, 2022 | |||||||||
| Gross current financing receivables: | |||||||||||
| PSAs | $ | 96.8 | $ | 96.6 | |||||||
| Franchisee Notes | 20.9 | 18.4 | |||||||||
| Current financing receivables, gross | $ | 117.7 | $ | 115.0 | |||||||
| Allowance for credit losses: | |||||||||||
| PSAs | $ | 14.5 | $ | 13.1 | |||||||
| Franchisee Notes | 5.5 | 6.5 | |||||||||
| Total allowance for credit losses | 20.0 | 19.6 | |||||||||
| Net current financing receivables: | |||||||||||
| PSAs, net | $ | 82.3 | $ | 83.5 | |||||||
| Franchisee Notes, net | 15.4 | 11.9 | |||||||||
| Total current financing receivables, net | $ | 97.7 | $ | 95.4 | |||||||
| ($ in millions) | June 30, 2023 | December 31, 2022 | |||||||||
| Gross long-term financing receivables: | |||||||||||
| PSAs | $ | 234.7 | $ | 224.0 | |||||||
| Franchisee Notes | 63.6 | 63.5 | |||||||||
| Long-term financing receivables, gross | $ | 298.3 | $ | 287.5 | |||||||
| Allowance for credit losses: | |||||||||||
| PSAs | $ | 28.2 | $ | 32.4 | |||||||
| Franchisee Notes | 5.1 | 5.3 | |||||||||
| Total allowance for credit losses | 33.3 | 37.7 | |||||||||
| Net long-term financing receivables: | |||||||||||
| PSAs, net | $ | 206.5 | $ | 191.6 | |||||||
| Franchisee Notes, net | 58.5 | 58.2 | |||||||||
| Total long-term financing receivables, net | $ | 265.0 | $ | 249.8 | |||||||
| ($ in millions) | 2023 | 2022 | 2021 | 2020 | 2019 | Prior | Total | ||||||||||||||||||||||||||||||||||
| PSAs | |||||||||||||||||||||||||||||||||||||||||
| Credit Score: | |||||||||||||||||||||||||||||||||||||||||
| Less than 400 | $ | 10.6 | $ | 10.2 | $ | 5.4 | $ | 2.6 | $ | 1.4 | $ | 0.1 | $ | 30.3 | |||||||||||||||||||||||||||
| 400-599 | 16.0 | 17.3 | 8.8 | 4.7 | 2.1 | 0.6 | 49.5 | ||||||||||||||||||||||||||||||||||
| 600-799 | 34.4 | 34.3 | 18.9 | 9.6 | 3.6 | 1.1 | 101.9 | ||||||||||||||||||||||||||||||||||
| 800+ | 55.9 | 52.6 | 24.4 | 12.0 | 4.1 | 0.8 | 149.8 | ||||||||||||||||||||||||||||||||||
| Total PSAs | $ | 116.9 | $ | 114.4 | $ | 57.5 | $ | 28.9 | $ | 11.2 | $ | 2.6 | $ | 331.5 | |||||||||||||||||||||||||||
| Franchisee Notes | |||||||||||||||||||||||||||||||||||||||||
| Active distributors | $ | 15.4 | $ | 21.5 | $ | 14.9 | $ | 7.0 | $ | 5.9 | $ | 6.3 | $ | 71.0 | |||||||||||||||||||||||||||
| Separated distributors | — | 0.8 | 2.8 | 2.6 | 2.5 | 4.8 | 13.5 | ||||||||||||||||||||||||||||||||||
| Total Franchisee Notes | $ | 15.4 | $ | 22.3 | $ | 17.7 | $ | 9.6 | $ | 8.4 | $ | 11.1 | $ | 84.5 | |||||||||||||||||||||||||||
| Current Period Gross Write-offs | |||||||||||||||||||||||||||||||||||||||||
| PSAs | $ | 2.3 | $ | 8.9 | $ | 5.0 | $ | 2.4 | $ | 1.1 | $ | 0.5 | $ | 20.2 | |||||||||||||||||||||||||||
| Franchisee Notes | — | 0.1 | 0.1 | 0.1 | 0.5 | 0.6 | 1.4 | ||||||||||||||||||||||||||||||||||
| Total current period gross write-offs | $ | 2.3 | $ | 9.0 | $ | 5.1 | $ | 2.5 | $ | 1.6 | $ | 1.1 | $ | 21.6 | |||||||||||||||||||||||||||
| ($ in millions) | 30-59 days past due | 60-90 days past due | Greater than 90 days past due | Total past due | Total not considered past due | Total | Greater than 90 days past due and accruing interest | |||||||||||||||||||||||||||||||||||||
| June 30, 2023 | $ | 3.3 | $ | 1.7 | $ | 6.3 | $ | 11.3 | $ | 320.2 | $ | 331.5 | $ | 6.3 | ||||||||||||||||||||||||||||||
| December 31, 2022 | 3.6 | 1.8 | 6.9 | 12.3 | 308.3 | 320.6 | 6.9 | |||||||||||||||||||||||||||||||||||||
| June 30, 2023 | |||||||||||||||||
| ($ in millions) | PSAs | Franchisee Notes | Total | ||||||||||||||
| Allowance for credit losses, beginning of year | $ | 45.5 | $ | 11.8 | $ | 57.3 | |||||||||||
| Provision for credit losses | 16.3 | (0.1) | 16.2 | ||||||||||||||
| Write-offs | (20.2) | (1.4) | (21.6) | ||||||||||||||
| Recoveries of amounts previously charged off | 1.1 | 0.3 | 1.4 | ||||||||||||||
| Allowance for credit losses, end of period | $ | 42.7 | $ | 10.6 | $ | 53.3 | |||||||||||
| ($ in millions) | June 30, 2023 | ||||
| Cost basis of trade accounts receivable | $ | 408.1 | |||
| Allowance for credit losses balance, beginning of year | 14.6 | ||||
| Provision for credit losses | 3.0 | ||||
| Write-offs | (2.6) | ||||
| Foreign currency and other | (0.1) | ||||
| Allowance for credit losses balance, end of period | 14.9 | ||||
| Net trade accounts receivable balance | $ | 393.2 | |||
| ($ in millions) | June 30, 2023 | December 31, 2022 | |||||||||
| Finished goods | $ | 132.0 | $ | 136.6 | |||||||
| Work in process | 22.5 | 34.8 | |||||||||
| Raw materials | 174.7 | 174.6 | |||||||||
| Total | $ | 329.2 | $ | 346.0 | |||||||
| ($ in millions) | June 30, 2023 | December 31, 2022 | |||||||||
| Short-term borrowings: | |||||||||||
| Short-term borrowings and bank overdrafts | $ | 8.7 | $ | 4.6 | |||||||
| Long-term debt: | |||||||||||
| Three-Year Term Loans due 2024 | $ | 235.0 | $ | 400.0 | |||||||
| Three-Year Term Loans due 2025 | 600.0 | 600.0 | |||||||||
1.800% senior unsecured notes due 2026 | 500.0 | 500.0 | |||||||||
2.400% senior unsecured notes due 2028 | 500.0 | 500.0 | |||||||||
2.950% senior unsecured notes due 2031 | 600.0 | 600.0 | |||||||||
| Revolving Credit Facility due 2026 | — | — | |||||||||
| Total long-term debt | 2,435.0 | 2,600.0 | |||||||||
| Less: discounts and debt issuance costs | (12.6) | (14.3) | |||||||||
| Total long-term debt, net | $ | 2,422.4 | $ | 2,585.7 | |||||||
| ($ in millions) | Foreign Currency Translation Adjustments | Other Adjustments (b) | Total | ||||||||||||||
| For the Three Months Ended June 30, 2023: | |||||||||||||||||
| Balance, March 31, 2023 | $ | 104.0 | $ | (1.6) | $ | 102.4 | |||||||||||
| Other comprehensive loss before reclassifications, net of income taxes | (8.6) | — | (8.6) | ||||||||||||||
| Amounts reclassified from accumulated other comprehensive income: | |||||||||||||||||
| Sale of business | 0.3 | (c) | — | 0.3 | |||||||||||||
| Amounts reclassified from accumulated other comprehensive income, net of income taxes | 0.3 | — | 0.3 | ||||||||||||||
| Net current period other comprehensive loss, net of income taxes | (8.3) | — | (8.3) | ||||||||||||||
| Balance, June 30, 2023 | $ | 95.7 | $ | (1.6) | $ | 94.1 | |||||||||||
| For the Three Months Ended July 1, 2022: | |||||||||||||||||
| Balance, April 1, 2022 | $ | 169.8 | $ | (3.1) | $ | 166.7 | |||||||||||
| Other comprehensive loss before reclassifications, net of income taxes | (63.1) | — | (63.1) | ||||||||||||||
| Amounts reclassified from accumulated other comprehensive income: | |||||||||||||||||
| Increase | — | 0.1 | (a) | 0.1 | |||||||||||||
| Amounts reclassified from accumulated other comprehensive income, net of income taxes | — | 0.1 | 0.1 | ||||||||||||||
| Net current period other comprehensive (loss) income, net of income taxes | (63.1) | 0.1 | (63.0) | ||||||||||||||
| Balance, July 1, 2022 | $ | 106.7 | $ | (3.0) | $ | 103.7 | |||||||||||
(a) This accumulated other comprehensive income component is included in the computation of net periodic pension cost. | |||||||||||||||||
(b) Includes balances relating to defined benefit plans and supplemental executive retirement plans. | |||||||||||||||||
(c) Reclassified to Gain on sale of business in the Consolidated Condensed Statements of Earnings and Comprehensive Income (Loss). | |||||||||||||||||
| ($ in millions) | June 30, 2023 | December 31, 2022 | |||||||||
| Deferred revenue, current | $ | 136.5 | $ | 135.2 | |||||||
| Deferred revenue, noncurrent | 46.6 | 48.7 | |||||||||
| Total contract liabilities | $ | 183.1 | $ | 183.9 | |||||||
| ($ in millions) | Mobility Technologies | Repair Solutions | Environmental & Fueling Solutions | Other | Total | ||||||||||||||||||||||||
| Sales: | |||||||||||||||||||||||||||||
| Sales of products | $ | 207.1 | $ | 157.8 | $ | 296.0 | $ | 21.6 | $ | 682.5 | |||||||||||||||||||
| Sales of services | 31.7 | 0.6 | 43.3 | 6.3 | 81.9 | ||||||||||||||||||||||||
| Total | $ | 238.8 | $ | 158.4 | $ | 339.3 | $ | 27.9 | $ | 764.4 | |||||||||||||||||||
| Geographic: | |||||||||||||||||||||||||||||
North America (a) | $ | 161.4 | $ | 158.4 | $ | 214.3 | $ | 27.5 | $ | 561.6 | |||||||||||||||||||
| Western Europe | 25.1 | — | 40.5 | — | 65.6 | ||||||||||||||||||||||||
| High growth markets | 33.0 | — | 69.1 | 0.4 | 102.5 | ||||||||||||||||||||||||
| Rest of world | 19.3 | — | 15.4 | — | 34.7 | ||||||||||||||||||||||||
| Total | $ | 238.8 | $ | 158.4 | $ | 339.3 | $ | 27.9 | $ | 764.4 | |||||||||||||||||||
| ($ in millions) | Mobility Technologies | Repair Solutions | Environmental & Fueling Solutions | Other | Total | ||||||||||||||||||||||||
| Sales: | |||||||||||||||||||||||||||||
| Sales of products | $ | 184.7 | $ | 149.1 | $ | 334.8 | $ | 33.9 | $ | 702.5 | |||||||||||||||||||
| Sales of services | 25.9 | 0.6 | 40.5 | 6.9 | 73.9 | ||||||||||||||||||||||||
| Total | $ | 210.6 | $ | 149.7 | $ | 375.3 | $ | 40.8 | $ | 776.4 | |||||||||||||||||||
| Geographic: | |||||||||||||||||||||||||||||
North America (a) | $ | 151.5 | $ | 149.7 | $ | 242.7 | $ | 40.0 | $ | 583.9 | |||||||||||||||||||
| Western Europe | 18.6 | — | 37.5 | — | 56.1 | ||||||||||||||||||||||||
| High growth markets | 23.0 | — | 80.2 | 0.8 | 104.0 | ||||||||||||||||||||||||
| Rest of world | 17.5 | — | 14.9 | — | 32.4 | ||||||||||||||||||||||||
| Total | $ | 210.6 | $ | 149.7 | $ | 375.3 | $ | 40.8 | $ | 776.4 | |||||||||||||||||||
| ($ in millions) | Mobility Technologies | Repair Solutions | Environmental & Fueling Solutions | Other | Total | ||||||||||||||||||||||||
| Sales: | |||||||||||||||||||||||||||||
| Sales of products | $ | 422.3 | $ | 338.7 | $ | 568.1 | $ | 49.8 | $ | 1,378.9 | |||||||||||||||||||
| Sales of services | 62.4 | 1.1 | 85.0 | 13.4 | 161.9 | ||||||||||||||||||||||||
| Total | $ | 484.7 | $ | 339.8 | $ | 653.1 | $ | 63.2 | $ | 1,540.8 | |||||||||||||||||||
| Geographic: | |||||||||||||||||||||||||||||
North America (a) | $ | 335.0 | $ | 339.8 | $ | 405.4 | $ | 62.2 | $ | 1,142.4 | |||||||||||||||||||
| Western Europe | 44.0 | — | 83.1 | — | 127.1 | ||||||||||||||||||||||||
| High growth markets | 65.6 | — | 136.5 | 1.0 | 203.1 | ||||||||||||||||||||||||
| Rest of world | 40.1 | — | 28.1 | — | 68.2 | ||||||||||||||||||||||||
| Total | $ | 484.7 | $ | 339.8 | $ | 653.1 | $ | 63.2 | $ | 1,540.8 | |||||||||||||||||||
| ($ in millions) | Mobility Technologies | Repair Solutions | Environmental & Fueling Solutions | Other | Total | ||||||||||||||||||||||||
| Sales: | |||||||||||||||||||||||||||||
| Sales of products | $ | 362.3 | $ | 312.9 | $ | 622.7 | $ | 74.9 | $ | 1,372.8 | |||||||||||||||||||
| Sales of services | 55.9 | 1.2 | 80.8 | 13.8 | 151.7 | ||||||||||||||||||||||||
| Total | $ | 418.2 | $ | 314.1 | $ | 703.5 | $ | 88.7 | $ | 1,524.5 | |||||||||||||||||||
| Geographic: | |||||||||||||||||||||||||||||
North America (a) | $ | 294.8 | $ | 314.1 | $ | 447.1 | $ | 87.3 | $ | 1,143.3 | |||||||||||||||||||
| Western Europe | 40.7 | — | 79.1 | — | 119.8 | ||||||||||||||||||||||||
| High growth markets | 47.0 | — | 149.5 | 1.4 | 197.9 | ||||||||||||||||||||||||
| Rest of world | 35.7 | — | 27.8 | — | 63.5 | ||||||||||||||||||||||||
| Total | $ | 418.2 | $ | 314.1 | $ | 703.5 | $ | 88.7 | $ | 1,524.5 | |||||||||||||||||||
| Three Months Ended | Six Months Ended | ||||||||||||||||||||||
| ($ in millions) | June 30, 2023 | July 1, 2022 | June 30, 2023 | July 1, 2022 | |||||||||||||||||||
| Sales: | |||||||||||||||||||||||
| Mobility Technologies | $ | 238.8 | $ | 210.6 | $ | 484.7 | $ | 418.2 | |||||||||||||||
Repair Solutions(a) | 158.4 | 149.7 | 339.8 | 314.1 | |||||||||||||||||||
| Environmental & Fueling Solutions | 339.3 | 375.3 | 653.1 | 703.5 | |||||||||||||||||||
| Other | 27.9 | 40.8 | 63.2 | 88.7 | |||||||||||||||||||
| Total | $ | 764.4 | $ | 776.4 | $ | 1,540.8 | $ | 1,524.5 | |||||||||||||||
| Segment operating profit: | |||||||||||||||||||||||
| Mobility Technologies | $ | 44.7 | $ | 42.6 | $ | 92.6 | $ | 83.7 | |||||||||||||||
Repair Solutions(b) | 41.6 | 41.6 | 88.9 | 88.6 | |||||||||||||||||||
| Environmental & Fueling Solutions | 95.2 | 98.5 | 175.9 | 180.5 | |||||||||||||||||||
| Other | 2.2 | 3.2 | 6.0 | 8.3 | |||||||||||||||||||
| Segment operating profit | 183.7 | 185.9 | 363.4 | 361.1 | |||||||||||||||||||
Corporate & other unallocated costs(b) | (63.1) | (49.4) | (109.0) | (89.8) | |||||||||||||||||||
| Operating profit | 120.6 | 136.5 | 254.4 | 271.3 | |||||||||||||||||||
| Interest expense, net | (23.9) | (15.3) | (47.9) | (28.2) | |||||||||||||||||||
| Gain on sale of business | 34.1 | — | 34.1 | — | |||||||||||||||||||
| Gain on previously held equity interests from combination of business | — | — | — | 32.7 | |||||||||||||||||||
| Unrealized (loss) gain on equity securities measured at fair value | — | (80.0) | — | 83.0 | |||||||||||||||||||
| Other non-operating expense, net | (0.5) | — | (1.4) | (0.1) | |||||||||||||||||||
| Earnings before income taxes | $ | 130.3 | $ | 41.2 | $ | 239.2 | $ | 358.7 | |||||||||||||||
| Depreciation expense: | |||||||||||||||||||||||
| Mobility Technologies | $ | 6.8 | $ | 4.7 | $ | 12.9 | $ | 10.7 | |||||||||||||||
| Repair Solutions | 0.5 | 0.4 | 0.9 | 0.8 | |||||||||||||||||||
| Environmental & Fueling Solutions | 3.8 | 3.6 | 7.4 | 7.2 | |||||||||||||||||||
| Other | — | 0.5 | — | 0.9 | |||||||||||||||||||
| Corporate | 0.2 | 0.2 | 0.5 | 0.4 | |||||||||||||||||||
| Total | $ | 11.3 | $ | 9.4 | $ | 21.7 | $ | 20.0 | |||||||||||||||
| ($ in millions) | |||||
| Balance, December 31, 2022 | $ | 43.0 | |||
| Accruals for warranties issued during the period | 20.2 | ||||
| Settlements made | (17.4) | ||||
| Balance, June 30, 2023 | $ | 45.8 | |||
| ($ in millions) | Classification | June 30, 2023 | December 31, 2022 | ||||||||||||||
| Gross liabilities | |||||||||||||||||
| Current | Accrued expenses and other current liabilities | $ | 27.9 | $ | 27.1 | ||||||||||||
| Long-term | Other long-term liabilities | 75.7 | 78.1 | ||||||||||||||
| Total | 103.6 | 105.2 | |||||||||||||||
| Projected insurance recoveries | |||||||||||||||||
| Current | Prepaid expenses and other current assets | 19.0 | 21.2 | ||||||||||||||
| Long-term | Other assets | 47.4 | 47.4 | ||||||||||||||
| Total | $ | 66.4 | $ | 68.6 | |||||||||||||
| ($ in millions) | Quoted Prices in Active Markets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||||||||||||||||||
| June 30, 2023 | |||||||||||||||||||||||
| Contingent consideration liabilities | $ | — | $ | — | $ | 11.1 | $ | 11.1 | |||||||||||||||
| Deferred compensation liabilities | 6.1 | — | — | 6.1 | |||||||||||||||||||
| December 31, 2022 | |||||||||||||||||||||||
| Equity securities measured at fair value | $ | 21.3 | $ | — | $ | — | $ | 21.3 | |||||||||||||||
| Contingent consideration liabilities | — | — | 11.6 | 11.6 | |||||||||||||||||||
| Deferred compensation liabilities | — | 5.1 | — | 5.1 | |||||||||||||||||||
| Three Months Ended | Six Months Ended | ||||||||||||||||||||||
| ($ and shares in millions, except per share amounts) | June 30, 2023 | July 1, 2022 | June 30, 2023 | July 1, 2022 | |||||||||||||||||||
| Numerator: | |||||||||||||||||||||||
| Net earnings | $ | 97.3 | $ | 33.3 | $ | 180.1 | $ | 283.5 | |||||||||||||||
| Denominator: | |||||||||||||||||||||||
| Basic weighted average common shares outstanding | 155.4 | 160.5 | 155.5 | 163.2 | |||||||||||||||||||
| Effect of dilutive stock options and RSUs | 0.9 | 0.7 | 0.7 | 0.7 | |||||||||||||||||||
| Diluted weighted average common shares outstanding | 156.3 | 161.2 | 156.2 | 163.9 | |||||||||||||||||||
| Earnings per share: | |||||||||||||||||||||||
| Basic | $ | 0.63 | $ | 0.21 | $ | 1.16 | $ | 1.74 | |||||||||||||||
| Diluted | $ | 0.62 | $ | 0.21 | $ | 1.15 | $ | 1.73 | |||||||||||||||
| Anti-dilutive shares | 1.8 | 3.2 | 2.6 | 3.3 | |||||||||||||||||||
| ASSETS | |||||
| Accounts receivable, less allowance for credit losses | $ | 18.4 | |||
| Inventories | 13.6 | ||||
| Prepaid expenses and other current assets | 0.9 | ||||
| Property, plant and equipment, net | 4.5 | ||||
| Operating lease right-of-use assets | 0.3 | ||||
| Goodwill | 15.7 | ||||
| Other assets | 0.1 | ||||
| Total assets held for sale | $ | 53.5 | |||
| LIABILITIES | |||||
| Trade accounts payable | $ | 15.6 | |||
| Current operating lease liabilities | 0.3 | ||||
| Accrued expenses and other current liabilities | 6.7 | ||||
| Other long-term liabilities | 6.4 | ||||
| Total liabilities held for sale | $ | 29.0 | |||
| Three Months Ended | Six Months Ended | ||||||||||||||||||||||
| ($ in millions) | June 30, 2023 | July 1, 2022 | June 30, 2023 | July 1, 2022 | |||||||||||||||||||
| Sales | $ | 764.4 | $ | 776.4 | $ | 1,540.8 | $ | 1,524.5 | |||||||||||||||
| Cost of sales | (416.3) | (428.3) | (839.7) | (841.1) | |||||||||||||||||||
| Gross profit | 348.1 | 348.1 | 701.1 | 683.4 | |||||||||||||||||||
| Operating costs: | |||||||||||||||||||||||
| Selling, general and administrative expenses ("SG&A") | (187.2) | (176.7) | (365.4) | (342.7) | |||||||||||||||||||
| Research and development expenses ("R&D") | (40.3) | (34.9) | (81.3) | (69.4) | |||||||||||||||||||
| Operating profit | $ | 120.6 | $ | 136.5 | $ | 254.4 | $ | 271.3 | |||||||||||||||
| Gross profit as a % of sales | 45.5 | % | 44.8 | % | 45.5 | % | 44.8 | % | |||||||||||||||
| SG&A as a % of sales | 24.5 | % | 22.8 | % | 23.7 | % | 22.5 | % | |||||||||||||||
| R&D as a % of sales | 5.3 | % | 4.5 | % | 5.3 | % | 4.6 | % | |||||||||||||||
| Operating profit as a % of sales | 15.8 | % | 17.6 | % | 16.5 | % | 17.8 | % | |||||||||||||||
| % Change Three Months Ended June 30, 2023 vs. Comparable 2022 Period | % Change Six Months Ended June 30, 2023 vs. Comparable 2022 Period | ||||||||||
| Total sales growth (GAAP) | (1.5) | % | 1.1 | % | |||||||
| Core sales (Non-GAAP) | (1.6) | % | 1.1 | % | |||||||
| Acquisitions (Non-GAAP) | 0.9 | % | 1.3 | % | |||||||
| Currency exchange rates (Non-GAAP) | (0.8) | % | (1.3) | % | |||||||
| Three Months Ended | Six Months Ended | ||||||||||||||||||||||
| ($ in millions) | June 30, 2023 | July 1, 2022 | June 30, 2023 | July 1, 2022 | |||||||||||||||||||
| Mobility Technologies | $ | 238.8 | $ | 210.6 | $ | 484.7 | $ | 418.2 | |||||||||||||||
| Repair Solutions | 158.4 | 149.7 | 339.8 | 314.1 | |||||||||||||||||||
| Environmental & Fueling Solutions | 339.3 | 375.3 | 653.1 | 703.5 | |||||||||||||||||||
| Other | 27.9 | 40.8 | 63.2 | 88.7 | |||||||||||||||||||
| Total | $ | 764.4 | $ | 776.4 | $ | 1,540.8 | $ | 1,524.5 | |||||||||||||||
| % Change Three Months Ended June 30, 2023 vs. Comparable 2022 Period | % Change Six Months Ended June 30, 2023 vs. Comparable 2022 Period | ||||||||||
| Total sales growth (GAAP) | 13.4 | % | 15.9 | % | |||||||
| Core sales (Non-GAAP) | 4.6 | % | 8.3 | % | |||||||
| Acquisitions (Non-GAAP) | 10.0 | % | 9.5 | % | |||||||
| Currency exchange rates (Non-GAAP) | (1.2) | % | (1.9) | % | |||||||
| % Change Three Months Ended June 30, 2023 vs. Comparable 2022 Period | % Change Six Months Ended June 30, 2023 vs. Comparable 2022 Period | ||||||||||
| Total sales growth (GAAP) | 5.8 | % | 8.2 | % | |||||||
| Core sales (Non-GAAP) | 6.0 | % | 8.4 | % | |||||||
| Acquisitions (Non-GAAP) | — | % | — | % | |||||||
| Currency exchange rates (Non-GAAP) | (0.2) | % | (0.2) | % | |||||||
| % Change Three Months Ended June 30, 2023 vs. Comparable 2022 Period | % Change Six Months Ended June 30, 2023 vs. Comparable 2022 Period | ||||||||||
| Total sales growth (GAAP) | (9.6) | % | (7.2) | % | |||||||
| Core sales (Non-GAAP) | (8.5) | % | (5.6) | % | |||||||
| Acquisitions (Non-GAAP) | — | % | — | % | |||||||
| Currency exchange rates (Non-GAAP) | (1.1) | % | (1.6) | % | |||||||
| Three Months Ended | Six Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||
| ($ in millions) | June 30, 2023 | Margin | July 1, 2022 | Margin | June 30, 2023 | Margin | July 1, 2022 | Margin | |||||||||||||||||||||||||||||||||||||||
| Mobility Technologies | $ | 44.7 | 18.7 | % | $ | 42.6 | 20.2 | % | $ | 92.6 | 19.1 | % | $ | 83.7 | 20.0 | % | |||||||||||||||||||||||||||||||
| Repair Solutions | 41.6 | 26.3 | 41.6 | 27.8 | 88.9 | 26.2 | 88.6 | 28.2 | |||||||||||||||||||||||||||||||||||||||
| Environmental & Fueling Solutions | 95.2 | 28.1 | 98.5 | 26.2 | 175.9 | 26.9 | 180.5 | 25.7 | |||||||||||||||||||||||||||||||||||||||
| Other | 2.2 | 7.9 | 3.2 | 7.8 | 6.0 | 9.5 | 8.3 | 9.4 | |||||||||||||||||||||||||||||||||||||||
| Segment operating profit | 183.7 | 24.0 | 185.9 | 23.9 | 363.4 | 23.6 | 361.1 | 23.7 | |||||||||||||||||||||||||||||||||||||||
Corporate & other unallocated costs(a) | (63.1) | (8.2) | (49.4) | (6.3) | (109.0) | (7.1) | (89.8) | (5.9) | |||||||||||||||||||||||||||||||||||||||
| Total operating profit | $ | 120.6 | 15.8 | % | $ | 136.5 | 17.6 | % | $ | 254.4 | 16.5 | % | $ | 271.3 | 17.8 | % | |||||||||||||||||||||||||||||||
| Six Months Ended | |||||||||||
| ($ in millions) | June 30, 2023 | July 1, 2022 | |||||||||
| Net cash provided by operating activities | $ | 158.5 | $ | 48.5 | |||||||
| Proceeds from sale of business, net of cash provided | $ | 106.8 | $ | — | |||||||
| Cash paid for acquisitions, net of cash received | — | (186.6) | |||||||||
| Payments for additions to property, plant and equipment | (26.1) | (26.5) | |||||||||
| Proceeds from sale of property | 4.3 | 0.2 | |||||||||
| Cash paid for equity investments | (1.9) | (7.3) | |||||||||
| Proceeds from sale of equity securities | 20.4 | — | |||||||||
| Net cash provided by (used in) investing activities | $ | 103.5 | $ | (220.2) | |||||||
| Proceeds from issuance of long-term debt | $ | — | $ | 144.0 | |||||||
| Repayment of long-term debt | (165.0) | (130.0) | |||||||||
| Net proceeds from short-term borrowings | 3.8 | 5.0 | |||||||||
| Payments of common stock cash dividend | (7.8) | (8.0) | |||||||||
| Purchases of treasury stock | (50.0) | (271.1) | |||||||||
| Proceeds from stock option exercises | 3.1 | 0.6 | |||||||||
| Other financing activities | (6.7) | (3.3) | |||||||||
| Net cash used in financing activities | $ | (222.6) | $ | (262.8) | |||||||
Summarized Results of Operations Data ($ in millions) | Six Months Ended June 30, 2023 | ||||
Net sales (a) | $ | 795.4 | |||
Gross profit (b) | 392.9 | ||||
Net income (c) | $ | 201.2 | |||
(a) Includes intercompany sales of $18.2 million for the six months ended June 30, 2023. | |||||
(b) Includes intercompany gross profit of $3.8 million for the six months ended June 30, 2023. | |||||
(c) Includes intercompany pretax income of $25.7 million for the six months ended June 30, 2023. | |||||
Summarized Balance Sheet Data ($ in millions) | June 30, 2023 | ||||
| Assets | |||||
| Current assets | $ | 403.3 | |||
| Intercompany receivables | 1,472.3 | ||||
| Noncurrent assets | 629.5 | ||||
| Total assets | $ | 2,505.1 | |||
| Liabilities | |||||
| Current liabilities | $ | 319.4 | |||
| Intercompany payables | 318.6 | ||||
| Noncurrent liabilities | 2,477.3 | ||||
| Total liabilities | $ | 3,115.3 | |||
| Period | Total Number of Shares Purchased (in millions) | Average Price Paid per Share | Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs (in millions) | Approximate Dollar Value of Shares That May Yet Be Purchased Under the Plans or Programs ($ in millions) | |||||||||||||||||||
| April 1, 2023 to April 28, 2023 | — | $ | — | — | $ | 410.8 | |||||||||||||||||
| April 29, 2023 to May 26, 2023 | 1.1 | 28.55 | 1.1 | 378.9 | |||||||||||||||||||
| May 27, 2023 to June 30, 2023 | — | — | — | 378.9 | |||||||||||||||||||
| Total | 1.1 | 1.1 | |||||||||||||||||||||
| Incorporated by Reference (Unless Otherwise Indicated) | |||||||||||||||||
| Exhibit Number | Exhibit Index | Form | File No. | Exhibit | Filing Date | ||||||||||||
| 10.1 | 8-K | 001-39483 | 10.1 | June 13, 2023 | |||||||||||||
| 10.2 | 8-K | 001-39483 | 10.2 | June 13, 2023 | |||||||||||||
| 19.1 | — | — | Filed herewith | ||||||||||||||
| 22.1 | 10-K | 001-39483 | 22.1 | February 17, 2023 | |||||||||||||
| 31.1 | — | — | Filed herewith | ||||||||||||||
| 31.2 | — | — | Filed herewith | ||||||||||||||
| 32.1 | — | — | Filed herewith | ||||||||||||||
| 32.2 | — | — | Filed herewith | ||||||||||||||
| 101.INS | Inline XBRL Instance Document - the Instance Document does not appear in the interactive data file because its XBRL tags are embedded within the Inline XBRL document | — | — | Filed herewith | |||||||||||||
| 101.SCH | Inline XBRL Taxonomy Schema Document | — | — | Filed herewith | |||||||||||||
| 101.CAL | Inline XBRL Taxonomy Extension Calculation Linkbase Document | — | — | Filed herewith | |||||||||||||
| 101.DEF | Inline XBRL Taxonomy Extension Definition Linkbase Document | — | — | Filed herewith | |||||||||||||
| 101.LAB | Inline XBRL Taxonomy Extension Label Linkbase Document | — | — | Filed herewith | |||||||||||||
| 101.PRE | Inline Taxonomy Extension Presentation Linkbase Document | — | — | Filed herewith | |||||||||||||
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) | — | — | Filed herewith | |||||||||||||
| VONTIER CORPORATION: | ||||||||
| Date: August 3, 2023 | By: | /s/ Anshooman Aga | ||||||
| Anshooman Aga | ||||||||
| Senior Vice President and Chief Financial Officer | ||||||||
| Date: August 3, 2023 | By: | /s/ Paul V. Shimp | ||||||
| Paul V. Shimp | ||||||||
| Chief Accounting Officer | ||||||||
| Date: August 3, 2023 | By: | /s/ Mark D. Morelli | ||||||
| Mark D. Morelli | ||||||||
| President and Chief Executive Officer | ||||||||
| Date: August 3, 2023 | By: | /s/ Anshooman Aga | ||||||
| Anshooman Aga | ||||||||
| Senior Vice President and Chief Financial Officer | ||||||||
| Date: August 3, 2023 | By: | /s/ Mark D. Morelli | ||||||
| Mark D. Morelli | ||||||||
| President and Chief Executive Officer | ||||||||
| Date: August 3, 2023 | By: | /s/ Anshooman Aga | ||||||
| Anshooman Aga | ||||||||
| Senior Vice President and Chief Financial Officer | ||||||||