Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 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 ($ in millions):

	Three Months Ended						Six Months Ended
	June 30, 2017			July 1, 2016			June 30, 2017			July 1, 2016
Stock Awards:
Pretax compensation expense	$	8.0		$	7.1		$	15.4		$	14.2
Income tax benefit	(3.1		)	(2.5		)	(5.6		)	(4.8		)
Stock Award expense, net of income taxes	4.9			4.6			9.8			9.4
Stock options:
Pretax compensation expense	5.3			3.8			9.9			8.2
Income tax benefit	(1.8		)	(1.3		)	(3.4		)	(2.8		)
Stock option expense, net of income taxes	3.5			2.5			6.5			5.4
Total stock-based compensation:
Pretax compensation expense	13.3			10.9			25.3			22.4
Income tax benefit	(4.9		)	(3.8		)	(9.0		)	(7.6		)
Total stock-based compensation expense, net of income taxes	$	8.4		$	7.1		$	16.3		$	14.8

Schedule of Future Compensation

The following summarizes the unrecognized compensation cost for the Stock Plan awards as of June 30, 2017. This compensation cost is expected to be recognized over a weighted average period of approximately two 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	$	53.2
Stock options	50.0
Total unrecognized compensation cost	$	103.2

Schedule of Assumptions Used

The following summarizes the assumptions used in the Black-Scholes Merton option pricing model to value stock options granted under the Stock Plan during the six months ended June 30, 2017:

Risk-free interest rate	1.93% - 2.26%
Weighted average volatility (a)	21.0	%
Dividend yield	0.5	%
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 our limited trading history.

Schedule of Stock Option Activity

The following summarizes option activity under the Stock Plan for the six months ended June 30, 2017 (in millions, except price per share and numbers of years):

	Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value
Outstanding as of December 31, 2016	10.7		$	33.23
Granted	1.8		57.41
Exercised	(0.7	)	23.50
Canceled/forfeited	(0.2	)	42.51
Outstanding as of June 30, 2017	11.6		$	37.40	6.7	$	302.4
Vested and expected to vest as of June 30, 2017 (a)	11.2		$	36.16	6.5	$	295.8
Vested as of June 30, 2017	5.1		$	27.25	4.7	$	183.8
(a) 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 for the six months ended June 30, 2017 (in millions; except price per share):

	Number of Stock Awards		Weighted Average Grant-Date Fair Value
Unvested as of December 31, 2016	2.2		$	39.20
Granted	0.6		56.90
Vested	(0.4	)	36.27
Forfeited	(0.1	)	41.35
Unvested as of June 30, 2017	2.3		$	44.11