Segment Information

9 Months Ended

Sep. 25, 2020

Segment Reporting [Abstract]

Segment Information

NOTE 12. SEGMENT INFORMATION

We report our results in two separate business segments consisting of Professional Instrumentation and Industrial Technologies. When determining the reportable segments, we aggregate operating segments based on their similar economic and operating characteristics. Operating profit amounts in the Other category consist of unallocated corporate costs and other costs not considered part of our evaluation of reportable segment operating performance. Our segment results are as follows ($ in millions):

	Three Months Ended				Nine Months Ended
	September 25, 2020		September 27, 2019		September 25, 2020		September 27, 2019
Sales: (a)
Professional Instrumentation	$	1,155.7	$	1,145.6	$	3,297.6	$	3,288.9
Industrial Technologies	746.6		714.4		1,889.4		2,028.7
Total	$	1,902.3	$	1,860.0	$	5,187.0	$	5,317.6
Operating Profit: (a)
Professional Instrumentation	$	168.7	$	126.2	$	448.8	$	398.8
Industrial Technologies	165.5		138.5		246.6		382.3
Other	(23.8)		(22.6)		(74.3)		(72.2)
Total Operating Profit	310.4		242.1		621.1		708.9
Gain from combination of business	—		41.2		—		41.2
Interest expense, net	(43.9)		(47.0)		(130.7)		(116.7)
Other non-operating income (expense), net	(1.4)		(1.2)		(0.7)		(1.6)
Earnings from continuing operations before income taxes	$	265.1	$	235.1	$	489.7	$	631.8
(a) Beginning January 1, 2020, our Hengstler and Dynapar businesses are reported within our Professional Instrumentation segment. Previously, these businesses were reported within our Industrial Technologies segment. Prior year balances have been reclassified to reflect current year presentation.

Segment Change - Subsequent Event

In light of the recently completed Vontier Separation, we changed our internal reporting structure on the first day of the fourth quarter, September 26, 2020, to reflect organizational and leadership changes that allow us to better assess the operational performance of and allocate resources to our businesses. Our chief operating decision maker assesses performance and allocates resources based on our new operating segments, which are also our new reportable segments. Below is a description of our new reportable segments:

Reportable Segment	Operating Company
Intelligent Operating Solutions	Fluke
	Industrial Scientific, including Intelex
	Accruent
	Gordian
Precision Technologies	Tektronix
	Pacific Scientific Energetic Materials Company
	Qualitrol
	Andersen-Negele
	Gems
	Setra
	Hengstler and Dynapar
Advanced Healthcare Solutions	Advanced Sterilization Products
	Fluke Health Solutions
	Censis
	Invetech

We will begin reporting our results under our new reportable segments beginning in the fourth quarter of 2020.