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Stock Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2020
Share-based Payment Arrangement [Abstract]  
Schedule of Future Compensation Future compensation amounts will be adjusted for any changes in estimated forfeitures:
($ in millions)
Stock Awards$27.3 
Stock options14.2 
Total unrecognized compensation cost$41.5 
Schedule of Stock Option Activity
The following summarizes option activity under the Stock Plan and the Fortive Plans for the years ended December 31, 2020, 2019 and 2018 (in thousands, except price per share and numbers of years):
Options(c)
Weighted
Average
Exercise
Price(c)
Weighted 
Average
Remaining
Contractual Term
(years)		Aggregate
Intrinsic
Value
Outstanding as of January 1, 20181,896 $38.09 
Granted318 76.67
Exercised(292)28.99
Canceled/forfeited(61)54.13
Outstanding as of December 31, 20181,861 44.78 
Granted376 77.47 
Exercised(335)28.18 
Canceled/forfeited(148)42.67 
Outstanding as of December 31, 20191,754 53.74 
Granted815 
Exercised(360)
Canceled/forfeited(80)
Aggregate impact of conversion related to the Separation (a)
2,406 
Outstanding as of December 31, 20204,535 $27.17 7.3$28,288 
Vested and expected to vest as of December 31, 2020 (b)
3,530 $26.40 7.0$24,736 
Exercisable as of December 31, 20201,607 $21.21 5.2$19,597 
(a) The “Aggregate impact of conversion related to the Separation” represents the additional stock 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 Fortive and Vontier common stock calculated using the closing prices as of October 8, 2020.
(b) The “expected to vest” options are the net unvested options that remain after applying the forfeiture rate assumption to total unvested options.
(c) The options and weighted average exercise price for the periods prior to the Separation are pre-impact of the modification of the awards related to the Separation.
Options outstanding as of December 31, 2020 are summarized below (in millions; except price per share and numbers of years):
OutstandingVested
Exercise PriceNumber of OptionsAverage Exercise PriceAverage Remaining Life
(in years)		Number of OptionsAverage Exercise Price
$9.92 - $23.46
1.5 $18.23 51.2 $17.27 
$23.47 - $29.34
0.2 28.93 9— 28.60 
$29.35 - $31.46
2.2 31.37 90.2 31.12 
$31.47 - $33.43
0.5 33.39 80.1 33.34 
$33.44 - $33.66
0.1 33.66 100.1 33.66 
Total shares4.5 1.6 

The following summarizes aggregate intrinsic value and cash receipts related to stock option exercise activity under the Stock Plan and the Fortive Plans for the years ended December 31:
($ in millions)202020192018
Aggregate intrinsic value of stock options exercised$9.6 $14.2 $14.3 
Cash receipts from stock options exercised (a)
$9.4 $11.0 $8.3 
(a) Cash receipts prior to the Separation were recorded as an increase to Former Parent's investment. This amount was $7.6 million, $11.0 million and $8.3 million in 2020, 2019, and 2018, respectively.
Schedule of Stock Unit Activity
The following summarizes information related to Stock Award activity under the Stock Plan and the Fortive Plans for the years ended December 31, 2020, 2019 and 2018 (in thousands; except price per share):
Number of
Stock Awards (b)
Weighted Average
Grant-Date
Fair Value
Unvested as of January 1, 2018374 $45.92 
Granted106 77.78 
Vested(124)41.28 
Forfeited(15)53.23 
Unvested as of December 31, 2018341 57.63 
Granted132 77.15 
Vested(106)74.77 
Forfeited(48)56.69 
Unvested as of December 31, 2019319 62.00 
Granted593 
Vested(96)
Forfeited(26)
Aggregate impact of conversion related to the Separation (a)
592 
Unvested as of December 31, 20201,382 
(a) The “Aggregate impact of conversion related to the Separation” represents the 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 Fortive and Vontier common stock calculated using the closing prices as of October 8, 2020.
(b) The awards and weighted average grant-date fair value for the periods prior to the Separation are pre-impact of the modification of the awards related to the Separation.
Schedule of Assumptions Used
The fair value of each stock option issued was estimated on the date of grant using the Black-Scholes model for service condition awards with the following weighted average assumptions for the years ended December 31:
202020192018
Risk-free interest rate0.42 %
1.43% - 2.60%
2.71% - 2.96%
Volatility27.2 %19.9 %18.2 %
Dividend yield— %0.37 %0.37 %
Expected years until exercise6.5
5.5 - 8.0
5.5 - 8.0
Weighted average fair value at date of grant$9.95 $19.17 $18.66