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Stock Transactions And Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2019
Share-based Payment Arrangement [Abstract]  
Summary of Share Activity
The following table summarizes the Company’s stock activity (shares in millions):
 
Year Ended
 
December 31, 2019
 
December 31, 2018
Common stock - shares issued:
 
 
 
Balance, beginning of period
—

 
—

Shares issued to Danaher
127.9

 
—

Issuance of common stock
30.8

 
—

Balance, end of period
158.7

 
—
Summary of Assumption Used in the Black-Scholes Value Options Granted
The following summarizes the assumptions used in the Black-Scholes model to value options granted during the years ended December 31:
 
2019
 
2018
 
2017
Risk-free interest rate
1.7 - 2.6%

 
2.6 – 3.1%

 
1.8 – 2.2%

Weighted average volatility
21.1
%
 
21.4
%
 
17.9
%
Dividend yield
0.5
%
 
0.6
%
 
0.7
%
Expected years until exercise
5.0 – 8.0

 
5.0 – 8.0

 
5.0 – 8.0
Components Of Stock-Based Compensation Program
The following summarizes the components of the Company’s stock-based compensation expense under the Stock Plan and Danaher’s stock plans for the years ended December 31 ($ in millions):
 
2019
 
2018
 
2017
RSUs/PSUs:
 
 
 
 
 
Pretax compensation expense
$
11.2

 
$
8.2

 
$
7.6

Income tax benefit
(2.4
)
 
(2.1
)
 
(2.5
)
RSU/PSU expense, net of income taxes
8.8

 
6.1

 
5.1

Stock options:
 
 
 
 
 
Pretax compensation expense
7.2

 
5.1

 
4.7

Income tax benefit
(1.6
)
 
(1.3
)
 
(1.6
)
Stock option expense, net of income taxes
5.6

 
3.8

 
3.1

Total stock-based compensation:
 
 
 
 
 
Pretax compensation expense
18.4

 
13.3

 
12.3

Income tax benefit
(4.0
)
 
(3.4
)
 
(4.1
)
Total stock-based compensation expense, net of income taxes
$
14.4

 
$
9.9

 
$
8.2
Schedule of Option Activity
The following summarizes the Company’s option activity under the Company’s and Danaher’s stock plans (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
1.9

 
$
52.27

 
 
 
 
Granted
0.5

 
86.06

 
 
 
 
Exercised
(0.4
)
 
38.49

 
 
 
 
Cancelled/forfeited
(0.3
)
 
60.74

 
 
 
 
Outstanding as of December 31, 2017
1.7

 
63.95

 
 
 
 
Granted
0.5

 
99.41

 
 
 
 
Exercised
(0.3
)
 
48.25

 
 
 
 
Cancelled/forfeited
(0.2
)
 
78.61

 
 
 
 
Outstanding as of December 31, 2018
1.7

 
75.43

 
 
 
 
Granted
0.8

 
 
 
 
 
 
Exercised
(0.5
)
 
 
 
 
 
 
Cancelled/forfeited
(0.1
)
 
 
 
 
 
 
Conversion impact (1)
6.1

 
 
 
 
 
 
Outstanding as of December 31, 2019
8.0

 
$
17.81

 
8
 
$
94.6

Vested and expected to vest as of December 31, 2019
7.5

 
$
17.62

 
8
 
$
90.6

Vested as of December 31, 2019
1.9

 
$
12.94

 
5
 
$
31.9

______________
(1) 
The “Conversion impact” represents the additional stock options issued by Envista 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 Envista common stock calculated using the closing prices on December 17, 2019.
Schedule of Options Outstanding
Options outstanding as of December 31, 2019 are summarized below (in millions; except price per share and numbers of years):
 
Outstanding
 
Exercisable
Exercise Price
Shares
 
Average
Exercise Price
 
Average
Remaining
Life
(in years)
 
Shares
 
Average
Exercise Price
$5.42 to 9.74
0.4

 
$
8.11

 
3
 
0.4

 
$
8.11

$10.53 to 14.12
1.6

 
12.52

 
6
 
0.9

 
12.38

$15.27 to 19.49
3.3

 
17.83

 
8
 
0.6

 
17.18

$21.76 to 22.00
2.3

 
21.80

 
9
 
—

 
—

$25.13 to 27.82
0.4

 
26.59

 
10
 
—

 
—
Summery Information of Unvested RSUs and PSUs Activity
The following summarizes information on unvested RSUs and PSUs activity (in millions; except weighted average grant-date fair value):
 
Number of
RSUs/PSUs
 
Weighted Average
Grant-Date Fair Value
Unvested at December 31, 2016
0.5

 
$
60.43

Granted
0.1

 
85.22

Vested
(0.1
)
 
55.83

Forfeited
(0.1
)
 
68.04

Unvested at December 31, 2017
0.4

 
65.88

Granted
0.2

 
98.26

Vested
(0.1
)
 
65.81

Forfeited
(0.1
)
 
77.38

Unvested at December 31, 2018
0.4

 
79.21

Granted
0.4

 
 
Vested
(0.1
)
 
 
Forfeited
(0.1
)
 
 
Conversion impact (1)
1.5

 
 
Unvested at December 31, 2019
2.1

 
$
19.60

______________
(1) 
The “Conversion impact” represents the additional RSUs issued by Envista as a result of the Separation by applying the “concentration method” to convert RSUs and PSUs based on the ratio of the fair value of Danaher and Envista common stock calculated using the closing prices on December 17, 2019.