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STOCK BASED COMPENSATION (Tables)
 9 Months Ended
Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Stock-Based Compensation Costs The following summarizes aggregate intrinsic value, cash receipts and tax benefits realized related to option exercise activity under the Stock Plan and the Danaher Plans for the three and nine months ended September 30, 2016 and October 2, 2015 (in millions):
 
Three Months Ended
 
Nine Months Ended
 
September 30, 2016
 
October 2, 2015
 
September 30, 2016
 
October 2, 2015
Aggregate intrinsic value of options exercised
$
2.8

 
$
18.0

 
$
73.7

 
$
50.4

Cash receipts from exercise of options
$
3.3

 
$
12.7

 
$
56.7

 
$
35.4

Tax benefit realized related to exercise of options
$
1.0

 
$
5.8

 
$
25.5

 
$
15.8

The following summarizes the components of the Company’s stock-based compensation expense under the Stock Plan and the Danaher Plans ($ in millions):
 
Three Months Ended
 
Nine Months Ended
 
September 30, 2016
 
October 2, 2015
 
September 30, 2016
 
October 2, 2015
RSUs/PSUs:
 
 
 
 
 
 
 
Pretax compensation expense
$
7.3

 
$
5.1

 
$
21.5

 
$
15.3

Income tax benefit
(2.3
)
 
(1.8
)
 
(7.1
)
 
(5.2
)
RSU/PSU expense, net of income taxes
5.0

 
3.3

 
14.4

 
10.1

Stock options:
 
 
 
 
 
 
 
Pretax compensation expense
4.7

 
3.4

 
12.9

 
9.0

Income tax benefit
(1.6
)
 
(1.1
)
 
(4.4
)
 
(3.1
)
Stock option expense, net of income taxes
3.1

 
2.3

 
8.5

 
5.9

Total stock-based compensation:
 
 
 
 
 
 
 
Pretax compensation expense
12.0

 
8.5

 
34.4

 
24.3

Income tax benefit
(3.9
)
 
(2.9
)
 
(11.5
)
 
(8.3
)
Total stock-based compensation expense, net of income taxes
$
8.1

 
$
5.6

 
$
22.9

 
$
16.0
Schedule of Future Compensation Future compensation amounts will be adjusted for any changes in estimated forfeitures ($ in millions):
Stock Awards
$
50.5

Stock options
46.0

Total unrecognized compensation cost
$
96.5
Schedule of Assumptions Used The following summarizes the assumptions used in the Black-Scholes model to value options granted during the three months ended September 30, 2016:
Risk-free interest rate
1.21% - 1.25%

Weighted average volatility (a)
25.0
%
Dividend yield (b)
0.6
%
Expected years until exercise
5.5 - 8.0

 
 
(a) Weighted average volatility was estimated based on an average historical stock price volatility of a group of peer companies, given the Company's limited trading history.
(b) The dividend yield is calculated by dividing Fortive's annual dividend, based on the most recent quarterly dividend rate, by the closing Fortive 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 nine months ended September 30, 2016 (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 December 31, 2015
5.8

 


 
 
 
 
Granted
1.6

 
 
 
 
 
 
Exercised
(1.4
)
 
 
 
 
 
 
Canceled/forfeited
(0.7
)
 
 
 
 
 
 
Aggregate impact of conversion related to the Separation (a)
5.5

 


 
 
 
 
Outstanding as of September 30, 2016
10.8

 
$
32.96

 
7
 
$
194.1

Vested and expected to vest as of September 30, 2016 (b)
10.4

 
$
32.12

 
7
 
$
190.3

Vested as of September 30, 2016
4.9

 
$
24.64

 
5
 
$
127.8

 
 
 
 
 
 
 
 
(a) The “Aggregate impact of conversion related to the Separation” represents the number of 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 as of the date of the Separation.
(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 Unit Activity The following summarizes information related to unvested Stock Award activity under the Stock Plan and the Danaher Plans for the nine months ended September 30, 2016 (in millions; except price per share):
 
Number of
Stock Awards
 
Weighted Average
Grant-Date
Fair Value
Unvested as of December 31, 2015
1.1

 
$
72.24

Granted
0.6

 
 
Vested
(0.4
)
 
 
Forfeited
(0.2
)
 
 
Aggregate impact of conversion related to the Separation (a)
1.2

 
 
Unvested as of September 30, 2016
2.3

 
$
38.84

 
 
 
 
(a) The “Aggregate impact of conversion related to the Separation” represents the number of 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 as of the date of the Separation.