Fortive CorpFTV
Fortive Corp Segments Disclosure
NOTE 15. SEGMENT INFORMATION
We report our results in two separate business segments consisting of Intelligent Operating Solutions and Advanced Healthcare Solutions. We determine our business segments based on the identification of segment managers and similarities in products,
end markets, economic characteristics, technologies, and services, as well as the financial data utilized by the Company's chief executive officer. The Company's chief operating decision maker ("CODM") is the chief executive officer.
The CODM uses gross profit and operating profit at the segment level to assess performance and allocate resources, including merger and acquisition targets. The CODM also compares the actual results to expectations in assessing the performance of the segments. Operating expenses generally include selling, general and administrative expenses, and research and development expenses. Depreciation expense is allocated between Cost of sales and Selling, general, and administrative expenses. Amortization expense is recorded within Selling, general, and administrative expenses. The identifiable assets by segment are those used in each segment’s operations. Inter-segment amounts are not significant and are eliminated in the combined totals. Unallocated costs and other costs are not considered part of our evaluation of reportable segment operating performance.
Segment results for the year ended December 31, 2025 are shown below ($ in millions):
Total | Intelligent Operating Solutions | Advanced Healthcare Solutions | Unallocated Corporate Costs and Other (a) | ||||||||||||||||||||
Sales | $ | 4,159.1 | $ | 2,856.3 | $ | 1,302.8 | $ | — | |||||||||||||||
Cost of sales | (1,518.0) | (972.6) | (545.4) | — | |||||||||||||||||||
Gross profit | 2,641.1 | 1,883.7 | 757.4 | — | |||||||||||||||||||
Operating expenses | (1,920.9) | (1,145.4) | (618.8) | (156.7) | |||||||||||||||||||
Operating profit (loss) | 720.2 | 738.3 | 138.6 | (156.7) | |||||||||||||||||||
Non-operating income (expense), net | |||||||||||||||||||||||
Interest expense, net | (120.5) | — | — | (120.5) | |||||||||||||||||||
Other non-operating expense, net | 2.5 | — | — | 2.5 | |||||||||||||||||||
| Earnings from continuing operations before income taxes | $ | 602.2 | $ | 738.3 | $ | 138.6 | $ | (274.7) | |||||||||||||||
Depreciation and amortization expenses | $ | (437.6) | $ | (236.4) | $ | (199.8) | $ | (1.4) | |||||||||||||||
Capital expenditure | $ | (105.1) | $ | (82.2) | $ | (22.8) | $ | (0.1) | |||||||||||||||
(a) Unallocated Corporate Costs and Other included $33 million of stock based compensation expense related to adjustments in connection with the PT Separation. Refer to Note 13 for further detail. | |||||||||||||||||||||||
Segment results for the year ended December 31, 2024 are shown below ($ in millions):
Total | Intelligent Operating Solutions | Advanced Healthcare Solutions | Unallocated Corporate Costs and Other | ||||||||||||||||||||
Sales | $ | 4,080.9 | $ | 2,793.2 | $ | 1,287.7 | $ | — | |||||||||||||||
Cost of sales | (1,461.8) | (922.9) | (538.9) | — | |||||||||||||||||||
Gross profit | 2,619.1 | 1,870.3 | 748.8 | — | |||||||||||||||||||
Operating expenses | (1,902.8) | (1,162.3) | (610.3) | (130.2) | |||||||||||||||||||
Operating profit (loss) | 716.3 | 708.0 | 138.5 | (130.2) | |||||||||||||||||||
Non-operating income (expense), net | |||||||||||||||||||||||
Interest expense, net | (152.8) | — | — | (152.8) | |||||||||||||||||||
Other non-operating expense, net (a) (b) | (57.2) | — | — | (57.2) | |||||||||||||||||||
| Earnings from continuing operations before income taxes | $ | 506.3 | $ | 708.0 | $ | 138.5 | $ | (340.2) | |||||||||||||||
Depreciation and amortization expenses | $ | (430.9) | $ | (228.8) | $ | (201.2) | $ | (0.9) | |||||||||||||||
Capital expenditure | $ | (86.1) | $ | (67.6) | $ | (15.6) | $ | (2.9) | |||||||||||||||
(a) During 2024, we pledged a charitable contribution of $20 million to the Fortive Foundation (the “Foundation”), which had no donor imposed conditions or restrictions. The Foundation, a not-for-profit entity established to expand our philanthropic efforts, is a related party due to certain Fortive executives serving as members of the entity’s board of directors. | |||||||||||||||||||||||
(b) We recorded a loss from equity investments of $39.4 million during the year ended December 31, 2024. | |||||||||||||||||||||||
Segment results for the year ended December 31, 2023 are shown below ($ in millions):
Total | Intelligent Operating Solutions | Advanced Healthcare Solutions | Unallocated Corporate Costs and Other | ||||||||||||||||||||
Sales | $ | 3,913.9 | $ | 2,684.5 | $ | 1,229.4 | $ | — | |||||||||||||||
Cost of sales | (1,436.8) | (905.4) | (531.4) | — | |||||||||||||||||||
Gross profit | 2,477.1 | 1,779.1 | 698.0 | — | |||||||||||||||||||
Operating expenses | (1,903.1) | (1,149.2) | (614.2) | (139.7) | |||||||||||||||||||
Operating profit (loss) | 574.0 | 629.9 | 83.8 | (139.7) | |||||||||||||||||||
Non-operating income (expense), net | |||||||||||||||||||||||
Interest expense, net | (123.5) | — | — | (123.5) | |||||||||||||||||||
Other non-operating expense, net (a) | (17.4) | — | — | (17.4) | |||||||||||||||||||
| Earnings from continuing operations before income taxes | $ | 433.1 | $ | 629.9 | $ | 83.8 | $ | (280.6) | |||||||||||||||
Depreciation and amortization expenses | $ | (426.2) | $ | (219.4) | $ | (202.6) | $ | (4.2) | |||||||||||||||
Capital expenditure | $ | (78.6) | $ | (55.7) | $ | (17.6) | $ | (5.3) | |||||||||||||||
(a) We recorded a loss from equity investments of $17.3 million during the year ended December 31, 2023. | |||||||||||||||||||||||
Segment Assets:
As of December 31, | |||||||||||
| ($ in millions) | 2025 | 2024 | |||||||||
| Intelligent Operating Solutions | $ | 6,346.0 | $ | 6,324.1 | |||||||
| Advanced Healthcare Solutions | 4,861.6 | 5,008.6 | |||||||||
| Total segment assets | 11,207.6 | 11,332.7 | |||||||||
Other (a) | 509.3 | 973.1 | |||||||||
Assets of discontinued operations | 20.8 | 4,710.3 | |||||||||
| Total assets | $ | 11,737.7 | $ | 17,016.1 | |||||||
(a) Other represents corporate assets which consist primarily of cash, property, plant, and equipment, and net deferred income tax assets. | |||||||||||
Operations in Geographic Areas:
As of December 31, | |||||||||||
| ($ in millions) | 2025 | 2024 | |||||||||
| Property, plant and equipment, net: | |||||||||||
| United States | $ | 224.7 | $ | 185.8 | |||||||
All other | 45.1 | 47.1 | |||||||||
| Total | $ | 269.8 | $ | 232.9 | |||||||
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 25, 2026 | Showing above |
| 2024 | Feb 25, 2025 | |
| 2023 | Feb 27, 2024 | |
| 2022 | Feb 28, 2023 | |
| 2021 | Mar 1, 2022 | |
| 2020 | Feb 26, 2021 | |
| 2019 | Feb 27, 2020 | |
| 2018 | Feb 28, 2019 | |
| 2017 | Feb 28, 2018 | |
| 2016 | Feb 28, 2017 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.