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Item 16. FORM 10-K SUMMARY

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Item 16. FORM 10-K SUMMARY

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FORTIVE CORPORATION

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INDEX TO FINANCIAL STATEMENTS, SUPPLEMENTARY DATA AND FINANCIAL STATEMENT SCHEDULE

Page Number in Form 10-K
Schedule:
Valuation and Qualifying Accounts112

EXHIBIT INDEX

Exhibit NumberDescription
2.1Separation and Distribution Agreement, dated as of October 8, 2020, by and between Vontier Corporation and Fortive CorporationIncorporated by reference from Exhibit 2.1 to Fortive Corporation’s Current Report on Form 8-K filed on October 13, 2020 (Commission File Number: 1-37654)
3.1Restated Certificate of Incorporation of Fortive CorporationIncorporated by reference from Exhibit 3.1 to Fortive Corporation’s Quarterly Report on Form10-Q for the quarter ended July 1, 2022 (Commission File Number: 1-37654)
3.2Amended and Restated Bylaws of Fortive CorporationIncorporated by reference from Exhibit 3.1 to Fortive Corporation’s Current Report on Form 8-K filed on November 8, 2022 (Commission File Number: 1-37654)
4.1Indenture, dated as of June 20, 2016, between Fortive Corporation, as issuer, and The Bank of New York Mellon Trust Company, N.A., as trusteeIncorporated by reference from Exhibit 4.1 to Fortive Corporation’s Current Report on Form 8-K filed on June 21, 2016 (Commission File Number: 1-37654)
4.2Description of Securities
10.1Second Amended and Restated Credit Agreement, dated as of October 18, 2022, among Fortive Corporation, Bank of America, N.A., as Administrative Agent and USD Swing Line Lender, Bank of America, N.A., London Branch, as Alternative Currency Swing Line Lender, and the lenders referred to thereinIncorporated by reference from Exhibit 10.1 to Fortive Corporation’s Current Report on Form 8-K filed on October 20, 2022 (Commission File Number: 1-37654)
10.2364-Day Term Loan Credit Agreement, dated as of October 18, 2022, among Fortive Corporation, Bank of America, N.A., as Administrative Agent, and the lenders referred to therein.Incorporated by reference to Exhibit 10.2 to Fortive Corporation’s Current Report on Form 8-K filed on October 20, 2022 (Commission File Number: 1-37654)
10.3Fortive Corporation 2016 Stock Incentive Plan, as amended and restated*Incorporated by reference from Exhibit 10.15 to Fortive Corporation’s Annual Report on Form 10-K for the year ended December 31, 2020 (Commission File Number: 1-37654)

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10.4Form of Fortive Corporation Performance Stock Unit Agreement*Incorporated by reference from Exhibit 10.1 to Fortive Corporation’s Quarterly Report on Form 10-Q for the year ended April 1, 2022 (Commission File Number: 1-37654)
10.5Form of Fortive Corporation Non-Employee Directors Restricted Stock Unit Agreement *Incorporated by reference from Exhibit 10.9 to Fortive Corporation’s Annual Report on Form 10-K for the year ended December 31, 2017 (Commission File Number: 1-37654)
10.6Form of Fortive Corporation Restricted Stock Grant Agreement*Incorporated by reference from Exhibit 10.13 to Amendment No. 2 to Fortive Corporation’s Registration Statement on Form 10, filed on April 7, 2016 (Commission File Number: 1-37654)
10.7Form of Fortive Corporation Restricted Stock Unit Agreement*Incorporated by reference from Exhibit 10.11 to Fortive Corporation’s Annual Report on Form 10-K for the year ended December 31, 2017 (Commission File Number: 1-37654)
10.8Form of Fortive Corporation Non-Employee Directors Stock Option Agreement*Incorporated by reference from Exhibit 10.12 to Fortive Corporation’s Annual Report on Form 10-K for the year ended December 31, 2017 (Commission File Number: 1-37654)
10.9Form of Fortive Corporation Stock Option Agreement*Incorporated by reference from Exhibit 10.13 to Fortive Corporation’s Annual Report on Form 10-K for the year ended December 31, 2017 (Commission File Number: 1-37654)
10.10Fortive Corporation Amended and Restated 2016 Executive Incentive Compensation Plan*Incorporated by reference from Exhibit 10.18 to Fortive Corporation’s Annual Report on Form 10-K for the year ended December 31, 2018 (Commission File Number: 1-37654)
10.11Fortive Corporation Severance and Change in Control Plan for Officers*Incorporated by reference from Exhibit 10.1 to Fortive Corporation’s Current Report on Form 8-K, filed on March 31, 2017 (Commission File Number: 1-37654)
10.12Fortive Executive Deferred Incentive Program*Incorporated by reference from Exhibit 10.10 to Fortive Corporation’s Current Report on Form 8-K filed on June 1, 2016 (Commission File Number: 1-37654)
10.13Form of D&O Indemnification Agreement*Incorporated by reference from Exhibit 10.10 to Amendment No. 2 to Fortive Corporation’s Registration Statement on Form 10, filed on April 7, 2016 (Commission File Number: 1-37654)
10.14Aircraft Time Sharing Agreement, dated July 18, 2016, between Fortive Corporation and James Lico*Incorporated by reference from Exhibit 10.18 to Fortive Corporation’s Annual Report on Form 10-K for the year ended December 31, 2017 (Commission File Number: 1-37654)

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10.15Aircraft Time Sharing Agreement, dated July 18, 2016, between Fortive Corporation and Charles McLaughlin*Incorporated by reference from Exhibit 10.19 to Fortive Corporation’s Annual Report on Form 10-K for the year ended December 31, 2017 (Commission File Number: 1-37654)
10.16Description of compensation arrangements for non-management directors*Incorporated by reference from Exhibit 10.1 to Fortive Corporation’s Quarterly Report on Form 10-Q for the quarter ended October 1, 2021 (Commission File Number: 1-37654
10.17Fortive Corporation Non-Employee Directors’ Deferred Compensation Plan*Incorporated by reference from Exhibit 10.2 to Fortive Corporation’s Quarterly Report on Form 10-Q for the quarter ended September 29, 2017 (Commission File Number: 1-37654)
10.18Fortive Corporation Non-Employee Directors’ Deferred Compensation Plan Election Form*Incorporated by reference from Exhibit 10.3 to Fortive Corporation’s Quarterly Report on Form 10-Q for the quarter ended September 29, 2017 (Commission File Number: 1-37654)
10.19Offer of Employment Letter, dated November 16, 2015, between TGA Employment Services LLC and Chuck McLaughlin*Incorporated by reference from Exhibit 10.6 to Amendment No. 1 to Fortive Corporation’s Registration Statement on Form 10, filed on March 3, 2016 (Commission File Number: 1-37654)
10.20Offer of Employment Letter, dated February 1, 2016, between TGA Employment Services LLC and Stacey Walker*Incorporated by reference from Exhibit 10.34 to Fortive Corporation’s Annual Report on Form 10-K for the year ended December 31, 2020 (Commission File Number: 1-37654)
10.21Offer of Employment Letter, dated January 25, 2021 between TGA Employment Services LLC and Patrick Murphy*Incorporated by reference from Exhibit 10.8 to Amendment No. 1 to Fortive Corporation’s Registration Statement on Form 10, filed on March 3, 2016 (Commission File Number: 1-37654)
10.22Offer of Employment Letter, dated July 12, 2021 between TGA Employment Services LLC and Olumide Soroye*Incorporated by reference from Exhibit 10.26 to Fortive Corporation’s Annual Report on Form 10-K for the year ended December 31, 2021 (Commission File Number: 1-37654)
10.23Form of Fortive Corporation and its Affiliated Entities Agreement Regarding Competition and Protection of Proprietary Interests*
21.1Subsidiaries of Registrant
23.1Consent of Independent Registered Public Accounting Firm
31.1Certification of Chief Executive Officer Pursuant to Item 601(b)(31) of Regulation S-K, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2Certification of Chief Financial Officer Pursuant to Item 601(b)(31) of Regulation S-K, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

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32.1Certification of Chief Executive Officer, Pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
32.2Certification of Chief Financial Officer, Pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101.INSXBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document (1)
101.SCHInline XBRL Taxonomy Extension Schema Document (1)
101.CALInline XBRL Taxonomy Extension Calculation Linkbase Document (1)
101.DEFInline XBRL Taxonomy Extension Definition Linkbase Document (1)
101.LABInline XBRL Taxonomy Extension Label Linkbase Document (1)
101.PREInline XBRL Taxonomy Extension Presentation Linkbase Document (1)
104Inline Cover page formatted as Inline XBRL and contained in Exhibit 101
*Indicates management contract or compensatory plan, contract or arrangement.
(1)Exhibit 101 to this report includes the following documents formatted in XBRL (Extensible Business Reporting Language): (i) Consolidated Balance Sheets as of December 31, 2022 and 2021, (ii) Consolidated Statements of Earnings for the years ended December 31, 2022, 2021, and 2020, (iii) Consolidated Statements of Comprehensive Income for the years ended December 31, 2022, 2021, and 2020, (iv) Consolidated Statements of Changes in Equity for the years ended December 31, 2022, 2021, and 2020, (v) Consolidated Statements of Cash Flows for the years ended December 31, 2022, 2021, and 2020 and (vi) Notes to Consolidated Financial Statements.

The registrant agrees to furnish to the Commission supplementally upon request a copy of (i) any instrument with respect to long-term debt not filed herewith as to which the total amount of securities authorized thereunder does not exceed 10% of the total assets of the registrant and its subsidiaries on a consolidated basis and (ii) schedules or similar attachments omitted pursuant to Item 601(a)(5) of Regulation S-K.

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SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

FORTIVE CORPORATION
Date: February 28, 2023By:/s/ JAMES A. LICO
James A. Lico
President and Chief Executive Officer

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Pursuant to the requirements of the Securities Exchange Act of 1934, this annual report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the date indicated:

Name, Title and SignatureDate
/s/ ALAN G. SPOONFebruary 28, 2023
Alan G. Spoon
Chairman of the Board
/s/ ERIC BRANDERIZFebruary 28, 2023
Eric Branderiz
Director
/s/ DANIEL L. COMASFebruary 28, 2023
Daniel L. Comas
Director
/s/ SHARMISTHA DUBEYFebruary 28, 2023
Sharmistha Dubey
Director
/s/ REJJI P. HAYESFebruary 28, 2023
Rejji P. Hayes
Director
/s/ WRIGHT LASSITER IIIFebruary 28, 2023
Wright Lassiter III
Director
/s/ JAMES A. LICOFebruary 28, 2023
James A. Lico
President, Chief Executive Officer and Director
/s/ KATE D. MITCHELLFebruary 28, 2023
Kate D. Mitchell
Director
/s/ JEANNINE P. SARGENTFebruary 28, 2023
Jeannine P. Sargent
Director
/s/ CHARLES E. MCLAUGHLINFebruary 28, 2023
Charles E. McLaughlin
Senior Vice President and Chief Financial Officer
/s/ CHRISTOPHER M. MULHALLFebruary 28, 2023
Christopher M. Mulhall
Chief Accounting Officer

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FORTIVE CORPORATION AND SUBSIDIARIES

SCHEDULE II—VALUATION AND QUALIFYING ACCOUNTS

($ in millions)

ClassificationBalance at Beginning of PeriodCharged to Costs & ExpensesImpact of CurrencyCharged to Other Accounts**(a)**Write Offs, Write Downs & DeductionsBalance at End of Period
Year Ended December 31, 2022:
Allowances deducted from asset accounts
Allowance for credit losses$39.7$14.0$(0.7)$—$(9.1)$43.9
Year Ended December 31, 2021:
Allowances deducted from asset accounts
Allowance for credit losses$42.5$7.1$(0.7)$2.0$(11.2)$39.7
Year Ended December 31, 2020:
Allowances deducted from asset accounts
Allowance for credit losses$26.4$7.1$1.2$11.5$(3.7)$42.5
(a) Amounts are related to businesses acquired. In addition, the year ended December 31, 2020 includes an increase in the allowance for trade accounts receivables of $11.5 million recognized upon the adoption of ASU 2016-13 on January 1, 2020.

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