NET EARNINGS PER SHARE

9 Months Ended

Sep. 26, 2025

NOTE 9. NET EARNINGS PER SHARE

Basic net earnings per share (“EPS”) is calculated by dividing net earnings attributable to common stockholders by the weighted average number of shares of common stock outstanding for the applicable period. Diluted EPS is similarly calculated, except that the calculation includes the dilutive effect of the assumed issuance of shares under stock-based compensation plans under the treasury stock method, except where the inclusion of such shares would have an anti-dilutive impact. Anti-dilutive options excluded from the diluted EPS calculation for the three months ended September 26, 2025 were 4.4 million, and none for the nine months ended September 26, 2025, and were 1.5 million and 1.2 million, respectively, for the three and nine months ended September 27, 2024.

Information related to the calculation of net earnings per share of common stock is summarized as follows ($ and shares in millions, except per share amounts):


	Three Months Ended				Nine Months Ended
	September 26, 2025		September 27, 2024		September 26, 2025		September 27, 2024
Numerator
Net earnings from continuing operations	$	117.0	$	111.5	$	341.2	$	289.3



Denominator
Weighted average common shares outstanding used in basic earnings per share	330.8		349.2		337.2		350.7
Incremental common shares from:
Assumed exercise of dilutive options and vesting of dilutive Stock Awards	2.6		3.1		2.7		3.7

Weighted average common shares outstanding used in diluted earnings per share	333.4		352.3		339.9		354.4

Net earnings from continuing operations per common share - Basic	$	0.35	$	0.32	$	1.01	$	0.82
Net earnings from continuing operations per common share - Diluted	$	0.35	$	0.32	$	1.00	$	0.82

In the third quarter of 2025, the quarterly dividend paid on our common stock was $0.06 per share.

Share Repurchase Programs

On February 17, 2022, the Company's Board of Directors approved a share repurchase program authorizing the Company to repurchase up to 20 million shares of the Company's outstanding common stock (the “General Share Repurchase Program”). Under this program, shares may be repurchased from time to time on the open market or in privately negotiated transactions, including under accelerated share repurchase programs or under plans complying with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended (“10b5-1 Plans”). On January 23, 2024 and May 27, 2025, the Company’s Board of Directors increased the number of shares authorized under the share repurchase program by an additional 11 million and 15.6 million shares, respectively. On May 27, 2025, in connection with the Separation, the Company’s Board of Directors adopted a separate and incremental special purpose share repurchase program (the “Special Purpose Share Repurchase Program”) under which Fortive may purchase up to $550 million in Fortive’s common stock exclusively from the proceeds of the Ralliant Dividend, together with any other cash received by Fortive from Ralliant in connection with the Separation (collectively, the “Ralliant Cash Proceeds”). Repurchases of shares of Fortive common stock using the Ralliant Cash Proceeds will only be made through the Special Purpose Share Repurchase Program.

As of September 26, 2025, there were 8.3 million shares and $78.2 million remaining authorized under the General Share Repurchase Program and Special Share Repurchase Program, respectively. There is no expiration date for these repurchase programs, and the timing and amount of repurchases under the programs are determined by the Company's management based on market conditions, tax regulation and other factors. The repurchase programs may be suspended or discontinued at any time by the Board of Directors. Refer to Part II - Item 2 for additional information.

During the three and nine months ended September 26, 2025, the Company purchased 20.8 million and 25.2 million shares of its common stock at an average share price of $47.98 and $52.99, respectively. Prior to the Separation, during the three and nine months ended September 27, 2024, the Company purchased 3.8 million and 5.8 million shares of its common stock at an average share price of $70.87 and $72.78, respectively. Our common stock repurchases in excess of issuances are subject to a 1% excise tax enacted by the Inflation Reduction Act. Any excise tax incurred is recorded as part of the cost basis of the shares acquired within Common stock repurchases in the Consolidated Condensed Statement of Equity. The payment of the excise tax is recorded within Repurchase of common shares in the Consolidated Condensed Statement of Cash Flows.