Fortive Corp
For the period ended Oct 2, 2026. Filed Oct 28, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Oct 2, 2026 · Filed Oct 28, 2026
FTV$65.37-0.1%Stored close · as of Nov 6, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2026-07-03; filed 2026-07-29.
0001659166-26-000034
Item 2. Management's Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2026-10-02; filed 2026-10-28.
0001659166-26-000040
Item 2. Management's Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 152 previous paragraphs and 154 current paragraphs.
99 unchanged; 46 reworded; 8 added; 6 removed; 1 previous and 1 current paragraphs rearranged.
Tables are not compared: 8 previous and 8 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (8)
Current report
Geographically, all regions delivered strong core revenue growth in both the third quarter and the year-to-date period, with greatest contribution from North America.
Current report
•The year-over-year favorable impacts from higher volume, pricing, and increased productivity measures through our FBS initiatives, partially offset by higher employee costs, product mix, inflation and growth investments — favorable 35 basis points
Current report
In the third quarter, operating profit margin increased 320 basis points as compared to the comparable period of 2025 due to:
Current report
In the year-to-date period, operating profit margin increased 180 basis points, as compared to the comparable period of 2025 due to:
Current report
In the third quarter, operating profit margin decreased 170 basis points, as compared to the comparable period of 2025, due to:
Current report
In the year-to-date period, operating profit margin increased 40 basis points, as compared to the comparable period of 2025, due to:
Current report
•On July 15, 2025, we used approximately $294 million of the Ralliant Dividend to redeem €252 million of the outstanding principal of the 3.7% Euro-denominated senior unsecured notes due 2026.
Current report
•On July 24, 2025 and July 25, 2025, we used approximately $421 million of the Ralliant Dividend to repay the outstanding principal of the Euro Term Loan and Yen Term Loan.
Removed paragraphs (6)
Previous report
•The year-over-year favorable impacts from pricing, higher volume, reductions of cost through organizational streamlining, increased productivity measures through our FBS initiatives, and foreign currency translation, partially offset by higher employee costs, product mix, and growth investments — favorable 100 basis points
Previous report
In the second quarter, operating profit margin increased 230 basis points as compared to the comparable period of 2025 due to:
Previous report
In the year-to-date period, operating profit margin increased 110 basis points, as compared to the comparable period of 2025 due to:
Previous report
•The year-over-year favorable effects of pricing, higher volume, increased productivity measures through our FBS initiatives, organizational streamlining, and foreign currency translation, offset by higher employee costs and product mix — favorable 30 basis points
Previous report
In the second quarter, operating profit margin increased 10 basis points, as compared to the comparable period of 2025, due to:
Previous report
In the year-to-date period, operating profit margin increased 150 basis points, as compared to the comparable period of 2025, due to:
Reworded paragraphs (46)
Previous wording
Our financial outlook is subject to various assumptions and risks, including but not limited to: ongoing geopolitical events; wars and hostilities in the Middle East and in Ukraine, including the corresponding impact on energy costs, interest rates, cybersecurity, international trade, and global economic conditions; monetary policies; inflationary pressures on expenses and pricing; uncertainties in governmental policies on international trade, regulations, sanctions, and healthcare; operational challenges from existing, new, increased, or the uncertain status of tariffs, including in some cases, subsequent rollbacks, refunds, or suspensions; foreign exchange rate volatility, including the impact of unhedged foreign currency debts; reduction in U.S. government spending due to H.R.1, also known as the One Big Beautiful Bill Act (“OBBBA”); and overall fiscal policies, including investment and taxation policy initiatives being considered in the U.S.; the incremental impacts of the Pillar Two initiative from the Organization for Economic Co-operation and Development (“OECD”); and the impact from the Separation.
Current wording
Our financial outlook is subject to various assumptions and risks, including but not limited to: ongoing geopolitical events; wars and hostilities in the Middle East and in Ukraine, including the corresponding impact on energy costs, interest rates, cybersecurity, international trade, and global economic conditions; monetary policies; inflationary pressures on expenses and pricing; uncertainties in governmental policies on international trade, regulations, sanctions, and healthcare; operational challenges from existing, new, increased, or the uncertain status of tariffs, including in some cases, subsequent rollbacks, refunds, or suspensions; foreign exchange rate volatility, including the impact of unhedged foreign currency debts; reduction in U.S. government spending, including due to H.R.1, also known as the One Big Beautiful Bill Act; and overall fiscal policies, including investment and taxation policy initiatives being considered in the U.S.; the incremental impacts of the Pillar Two initiative from the Organization for Economic Co-operation and Development; and the impact from the Separation.
Previous wording
In addition, our financial outlook is subject to the impact of the Supreme Court of the United States ruling invalidating certain tariffs imposed under the International Emergency Economic Powers Act (the “IEEPA Ruling”). As a result of the IEEPA Ruling, the U.S. Customs and Border Protection (“CBP”) has established a system to process IEEPA tariff refund claims. We have submitted claims under this process and expect to continue doing so, as permitted. As refund claims are accepted by CBP, we recognize the approved amounts within cost of sales. The ultimate recoverability, timing, and amount of any such refunds remain uncertain and are subject to CBP review, as well as further legal, regulatory, and administrative developments. In addition, in response to the IEEPA Ruling, the current administration has imposed, and is expected to further impose, new tariffs under other existing authorizations. Impacts of the IEEPA Ruling and any new responsive tariffs, including our ability to mitigate fully any such new tariffs, are uncertain and may include changes to operational and transaction costs; pricing or cost responses by customers, suppliers, and other supply chain partners; actions by other countries, including changes to counter‑tariffs or related trade agreements; and the potential for refund requests from our customers.
Current wording
In addition, our financial outlook is subject to the impact of the Supreme Court of the United States ruling invalidating certain tariffs imposed under the International Emergency Economic Powers Act (the “IEEPA Ruling”). As a result of the IEEPA Ruling, the U.S. Customs and Border Protection (“CBP”) has established a system to process IEEPA tariff refund claims. We have submitted claims under this process and expect to continue doing so, as permitted. As refund claims are accepted by CBP, we recognize the approved amounts within Cost of sales in the Consolidated Condensed Statement of Earnings. We recognized refunds of $18.0 million and $22.5 million for the three and nine months ended October 2, 2026, substantially all of which has been received in cash. The ultimate recoverability, timing, and amount of any future refunds remain uncertain and are subject to CBP review, as well as further legal, regulatory, and administrative developments. In addition, in response to the IEEPA Ruling, the current administration has imposed, and is expected to further impose, new tariffs under other existing authorizations. Impacts of the IEEPA Ruling and any new responsive tariffs, including our ability to mitigate fully any such new tariffs, are uncertain and may include changes to operational and transaction costs; pricing or cost responses by customers, suppliers, and other supply chain partners; actions by other countries, including changes to counter‑tariffs or related trade agreements; and the potential for refund requests from our customers.
Previous wording
The following table summarizes total aggregate year-over-year sales growth and the components thereof for the second quarter as compared to the comparable period of 2025:
Current wording
The following table summarizes total aggregate year-over-year sales growth and the components thereof for the third quarter as compared to the comparable period of 2025:
Previous wording
Sales growth in the three months ended July 3, 2026 (the “quarter” or the “second quarter”) and the six months ended July 3, 2026 (the “year-to-date period”) was driven by favorable pricing of 2.4% and 2.3%, respectively, volume growth of 4.3% and 3.8%, respectively, and favorable foreign currency translation.
Current wording
Sales growth in the three months ended October 2, 2026 (the “quarter” or the “third quarter”) and the nine months ended October 2, 2026 (the “year-to-date period”) was driven by favorable pricing of 2.3% in both periods and volume growth of 4.9% and 4.1%, respectively, as well as revenue from acquired businesses. Favorable foreign currency translation also contributed to sales growth, particularly in the year-to-date period.
Previous wording
Refer to the IOS and AHS segment sections for further detail.
Current wording
Refer to the IOS and AHS segment discussions below for further detail.
Previous wording
In the second quarter, operating profit margin was 19.1% compared to 16.7% in the comparable period of 2025, resulting in an increase of 240 basis points due to:
Current wording
In the third quarter, operating profit margin was 21.3% compared to 15.5% in the comparable period of 2025, resulting in an increase of 580 basis points due to:
Previous wording
•The year-over-year effect of all other items in thesecond quarter including +70 basis points from amortization expense for existing businesses, +55 basis points from reduced discrete restructuring spending versus the comparable period, and +40 basis points from tariff refunds, partially offset by -5 basis points from unfavorable acquisition and divestiture-related impacts —favorable 160 basis points
Current wording
•The year-over-year effect of all other items in the third quarter including +370 basis points from stock-based compensation costs related to the Separation which were recognized in the prior year, +160 basis points from tariff refunds, +95 basis points from amortization expense for existing businesses, and +5 basis points from reduced discrete restructuring spending versus the comparable period, slightly offset by -55 basis points from capitalized software impairment and -30 basis points from unfavorable acquisition-related impacts — favorable 545 basis points
Previous wording
In the year-to-date period, operating profit margin was 18.5% compared to 16.7% in the comparable period of 2025, resulting in an increase of 180 basis points due to:
Current wording
In the year-to-date period, operating profit margin was 19.5% compared to 16.3% in the comparable period of 2025, resulting in an increase of 320 basis points due to:
Previous wording
•The year-over-year favorable impacts from pricing, higher volume, and increased productivity measures through our FBS initiatives, and reductions of cost through organizational streamlining, partially offset by higher employee costs, product mix, and growth investments — favorable 80 basis points
Current wording
•The year-over-year favorable impacts from increase in price, higher volume, increased productivity measures through our FBS initiatives and reductions of cost through organizational streamlining, partially offset by higher employee costs, product mix, inflation and growth investments — favorable 80 basis points
Previous wording
•The year-over-year effect of all other items in the year-to-date period including +60 basis points from amortization expense for existing businesses, +20 basis points from tariff refunds, and +15 basis points from reduced discrete restructuring spending, partially offset by -15 basis points from unfavorable acquisition and divestiture-related impacts —favorable 80 basis points
Current wording
•The year-over-year effect of all other items in the year-to-date period including +125 basis points from stock-based compensation costs related to the Separation recognized in the prior year, +75 basis points from amortization expense for existing businesses, +70 basis points from tariff refunds, and +10 basis points from reduced discrete restructuring spending versus the comparable period, slightly offset by -20 basis points from capitalized software impairment and -20 basis points from unfavorable acquisition and divestiture-related impacts — favorable 240 basis points
Previous wording
Sales growth in the second quarter and the year-to-date period was driven by favorable pricing across the segment of 2.7% and 2.4%, respectively, volume growth of 4.8% and 3.9%, respectively, primarily driven by professional instrumentation, facilities and asset lifecycle software, and gas detection, and favorable foreign currency translation.
Current wording
Sales growth in the third quarter and the year-to-date period was driven by favorable pricing across the segment of 2.1% and 2.3%, respectively and volume growth of 7.0% and 4.9%, respectively. Demand in professional instrumentation was the largest contributor with facilities and asset lifecycle software and gas detection equipment also driving strong growth. Acquisitions and favorable foreign currency translation also supported sales growth.
Previous wording
Geographically, core revenue growth in both the second quarter and the year-to-date period was driven primarily by strong demand in North America, as well as solid growth in Latin America and Asia-Pacific, slightly offset by a decline in EMEA.
Current wording
Geographically, core revenue growth in both the third quarter and the year-to-date period was driven primarily by strong demand in North America, as well as solid growth in EMEA and LATAM. The year-to-date period was also driven by solid growth in Asia-Pacific.
Previous wording
•The year-over-year favorable effects of pricing, higher volume, and increased productivity measures through our FBS initiatives, offset by product mix and higher employee costs — favorable 70 basis points
Current wording
•The year-over-year favorable effects of higher volume and price, and increased productivity measures through our FBS initiatives, offset by higher employee costs, product mix, inflation and growth initiatives — favorable 95 basis points
Previous wording
•The year-over-year effect of all other items, including +80 basis points from reductions in discrete restructuring spending, +45 basis points from amortization expense for existing businesses, and +45 basis points from tariff refunds, slightly offset by-10 basis points in unfavorable acquisition and divestiture-related impacts — favorable 160 basis points
Current wording
•The year-over-year effect of all other items, including +225 basis points from tariff refunds, +85 basis points from amortization expense for existing businesses, and +20 basis points from reductions in discrete restructuring spending, slightly offset by -85 basis points from capitalized software impairment and -20 basis points in unfavorable acquisition-related impacts — favorable 225 basis points
Previous wording
•Year-over-year favorable impact from pricing, higher volume, and organizational streamlining, partially offset by higher employee costs, product mix, and growth investments — favorable 70 basis points
Current wording
•The year-over-year favorable effects of increases in volume, pricing, and productivity measures through our FBS initiatives and organizational streamlining, partially offset by higher employee costs, product mix, inflation and growth investments — favorable 50 basis points
Previous wording
•The year-over-year effect of all other items, including +40 basis points from amortization expense for existing businesses, +25 basis points from reductions in discrete restructuring spending, and +25 basis points from tariff refunds, slightly offset by-10 basis points in unfavorable acquisition and divestiture-related impacts — favorable 80 basis points
Current wording
•The year-over-year effect of all other items, including +90 basis points from tariff refunds, +55 basis points from amortization expense for existing businesses, and +25 basis points from reductions in discrete restructuring spending, partially offset by -25 basis points from capitalized software impairment and -15 basis points in unfavorable acquisition and divestiture-related impacts — favorable 130 basis points
Previous wording
Sales growth in the second quarter and year-to-date period was driven by volume growth of 3.4% primarily driven by increased demand for sterilization products, favorable pricing across the segment of 1.9% and 2.1%, respectively, and favorable foreign currency translation.
Current wording
Sales growth in the third quarter and year-to-date period was driven by favorable pricing across the segment of 2.8% and 2.3% and volume growth of 0.3% and 2.4%, respectively. Demand increased in both the third quarter and year-to-date periods, driven primarily by sterilization products. In the year-to-date period, there was also an increase in demand for dosimetry products. Acquisitions and favorable foreign currency translation further contributed to growth.
Previous wording
Geographically, core revenue growth was primarily driven by strong growth in North America and Latin America in both the second quarter and the year-to-date period.
Current wording
Geographically, core revenue growth was driven by strong growth in Asia-Pacific and LATAM in both the third quarter and the year-to-date period. North America experienced modest growth in the third quarter, with stronger growth on a year-to-date basis.
Previous wording
•The year-over-year effect of all other items in the second quarter, including +120 basis points from amortization expense for existing businesses and +25 basis points from tariff refunds, slightly offset by-35 basis points from discrete restructuring plans and-25 basis points from net effects of acquired businesses — favorable 85 basis points
Current wording
•The year-over-year effect of all other items in the third quarter, including +90 basis points from amortization expense for existing businesses and +20 basis points from tariff refunds, partially offset by -60 basis points from net effects of acquired businesses — favorable 50 basis points
Previous wording
•Year-over-year impact from favorable pricing and higher volume, more than offset by product mix, higher employee costs and growth investments — unfavorable 75 basis points
Current wording
•Year-over-year favorable impact from pricing, higher volume, and organizational streamlining, more than offset by higher employee costs, product mix, inflation and growth initiatives — unfavorable 30 basis points
Previous wording
•The year-over-year effect of all other items in the year-to-date period, including +100 basis points from amortization expense for existing businesses and +15 basis points from tariff refunds, offset by-20 basis points from discrete restructuring plans and-15 basis points from net effects of acquired businesses — favorable 80 basis points
Current wording
•The year-over-year effect of all other items in the year-to-date period, including +100 basis points from amortization expense for existing businesses and +15 basis points from tariff refunds, partially offset by -30 basis points from net effects of acquired businesses and -15 basis points from discrete restructuring plans — favorable 70 basis points
Previous wording
The year-over-year increase in gross profit during the second quarter and year-to-date period was driven by favorable pricing, higher volume, gains from productivity measures and FBS initiatives, and tariff refunds, partially offset by product mix and higher employee costs. The increase in the year-to-date period was also driven by favorable impacts from foreign currency exchange rates.
Current wording
The year-over-year increase in gross profit during the third quarter and year-to-date period was driven by higher volume, favorable pricing, tariff refunds, and favorable impacts from foreign currency exchange rates, partially offset by product mix, higher employee costs, and growth investments.
Previous wording
The year-over-year increase in SG&A during the second quarter and year-to-date period was primarily due to higher employee costs and targeted growth investments to support innovation and commercial initiatives, partially offset by reductions of cost through organizational streamlining and benefits from productivity measures implemented through our FBS initiatives. The increase in SG&A in the year-to-date period also reflected unfavorable foreign currency translation.
Current wording
The year-over-year change in SG&A during the third quarter and year-to-date period was primarily due to incremental stock-based compensation related to the Separation in 2025, higher employee costs, targeted growth investments to support innovation and commercial initiatives, and capitalized software impairment, partially offset by reductions of cost through organizational streamlining and benefits from productivity measures implemented through our FBS initiatives.
Previous wording
R&D, consisting principally of internal and contract engineering personnel costs, increased during the second quarter and year-to-date period as compared to the comparable period of 2025 due to ongoing investments in innovation.
Current wording
R&D, consisting principally of internal and contract engineering personnel costs, increased during the third quarter and year-to-date period as compared to the comparable period of 2025 due to ongoing investments in innovation.
Previous wording
Net interest expense for the second quarter and year-to-date period was $35.4 million and $67.0 million as compared to $32.1 million and $64.1 million in the comparable periods in 2025. The year-over-year increases are due to a higher weighted average interest rate of the debt portfolio driven by the paydown of lower interest rate foreign currency debt and refinancing U.S. dollar-denominated senior notes. For discussion of our outstanding indebtedness, refer to Note 4 to the consolidated condensed financial statements.
Current wording
Net interest expense for the third quarter and year-to-date period was $38.8 million and $105.8 million as compared to $25.4 million and $89.5 million in the comparable periods in 2025. The year-over-year increases are due to a higher weighted average interest rate of the debt portfolio, less interest income due to lower cash holdings, and larger debt levels. For discussion of our outstanding indebtedness, refer to Note 4 to the consolidated condensed financial statements.
Previous wording
Our effective tax rate for the three and six months ended July 3, 2026 was 12.4% and 14.4%, respectively, as compared to 20.1% and 18.0%, for the three and six months ended June 27, 2025, respectively. The decrease in the effective tax rate for the three and six months ended July 3, 2026 as compared to the three and six months ended June 27, 2025 was primarily related to the mix of earnings between jurisdictions and changes in valuation allowances.
Current wording
Our effective tax rate for the three and nine months ended October 2, 2026 was 14.7% and 14.5%, respectively, as compared to 13.3% and 16.4%, for the three and nine months ended September 26, 2025, respectively. The year-over-year changes in the effective tax rate for the three and nine months ended October 2, 2026 were primarily attributable to changes in the tax effects of foreign earnings and a discrete deferred tax benefit. The decrease in the year-to-date period was also due to changes in valuation allowances.
Previous wording
Our effective tax rate for the three and six months ended July 3, 2026, differs from the U.S. federal statutory rate of 21% due primarily to the impact of credits and deductions provided by law, including those associated with state income taxes, and changes in our uncertain tax position reserves.
Current wording
Our effective tax rate for the three and nine months ended October 2, 2026, differs from the U.S. federal statutory rate of 21% due primarily to the impact of credits and deductions provided by law, including those associated with state income taxes, and changes in our uncertain tax position reserves.
Previous wording
Comprehensive income decreased by $114 million during the second quarter as compared to the comparable period in 2025 due to unfavorable changes in foreign currency translation of $105 million, partially offset by a $46 million increase in net earnings from continuing operations. Additionally, there was $55 million of net earnings from discontinued operations in the 2025 comparable period.
Current wording
Comprehensive income increased by $134 million during the third quarter as compared to the comparable period in 2025 due primarily to favorable changes in foreign currency translation of $17 million and a $56 million increase in net earnings from continuing operations. Additionally, there was $62 million of net loss from discontinued operations in the 2025 comparable period.
Previous wording
Comprehensive income decreased by $219 million during the year-to-date period as compared to the comparable period in 2025 due primarily to unfavorable changes in foreign currency translation adjustments of $178 million, partially offset by a $70 million increase in net earnings from continuing operations. Additionally, there was $114 million of net earnings from discontinued operations in the 2025 comparable period.
Current wording
Comprehensive income decreased by $85 million during the year-to-date period as compared to the comparable period in 2025 due primarily to unfavorable changes in foreign currency translation adjustments of $161 million, partially offset by a $125 million increase in net earnings from continuing operations and $3 million in hedge adjustments in the current year. Additionally, there was $52 million of net earnings from discontinued operations in the 2025 comparable period.
Previous wording
As of July 3, 2026, we held approximately $374 million of cash and equivalents that were invested in highly liquid investment-grade instruments with a maturity of 90 days or less, of which approximately 91% was held outside of the United States.
Current wording
As of October 2, 2026, we held approximately $377 million of cash and equivalents that were invested in highly liquid investment-grade instruments with a maturity of 90 days or less, of which approximately 90% was held outside of the United States.
Previous wording
Operating cash flows from continuing operations were $519 million during the year-to-date period, representing an increase of $122 million when compared to the comparable period of 2025. The year-over-year change in operating cash flows was primarily attributable to the following factors:
Current wording
Operating cash flows from continuing operations were $832 million during the year-to-date period, representing an increase of $141 million when compared to the comparable period of 2025. The year-over-year change in operating cash flows was primarily attributable to the following factors:
Previous wording
•Year-over-year increase of $79 million in operating cash flows from net earnings from continuing operations, net of non-cash items (Amortization, Depreciation, and Stock-based compensation).
Current wording
•Year-over-year increase of $107 million in operating cash flows from net earnings from continuing operations, which includes $22 million of tariff refunds received, net of non-cash items (Amortization, Depreciation, and Stock-based compensation).
Previous wording
•The aggregate changes in accounts receivable, inventories, and trade accounts payable used $1 million during the year-to-date period as compared to generating $43 million in the comparable period of 2025. The amount of cash flow generated from or used in a period depends upon the cash conversion cycle, which can be impacted by timing of revenue and collection from customers, vendor cash disbursement, and purchases of materials and components.
Current wording
•The aggregate changes in accounts receivable, inventories, and trade accounts payable used $25 million during the year-to-date period as compared to generating $12 million in the comparable period of 2025. The amount of cash flow generated from or used in a period depends upon the cash conversion cycle, which can be impacted by timing of revenue and collection from customers, vendor cash disbursement, and purchases of materials and components.
Previous wording
•The aggregate changes in prepaid expenses and other assets, and accrued expenses and other liabilities used $46 million of cash in the year-to-date period as compared to using $133 million of cash in the comparable period of 2025. The year-over-year changes were driven primarily by timing differences related to contract assets, contract liabilities, and payments of interest and taxes.
Current wording
•The aggregate changes in prepaid expenses and other assets, and accrued expenses and other liabilities used $14 million of cash in the year-to-date period as compared to using $85 million of cash in the comparable period of 2025. The year-over-year changes were driven primarily by timing differences related to contract assets, contract liabilities, and payments of interest and taxes.
Previous wording
Investing cash outflows from continuing operations in the year-to-date period were $73 million greater than the comparable period of 2025, driven by a year-over-year increase in cash used for acquisitions and higher capital expenditures.
Current wording
Investing cash outflows from continuing operations in the year-to-date period were $72 million greater than the comparable period of 2025, driven by a year-over-year increase in cash used for acquisitions and higher capital expenditures.
Previous wording
Financing cash flows from continuing operations consist primarily of issuances and repayments of debt and commercial paper, payments of cash dividends to shareholders and share repurchases.
Current wording
Financing cash flows from continuing operations consist primarily of issuances and repayments of debt and commercial paper, repurchases of shares, and payments of dividends.
Previous wording
In the year-to-date period, financing activities from continuing operations used cash of $400 million, reflecting the following transactions:
Current wording
In the year-to-date period, financing activities from continuing operations used cash of $708 million, reflecting the following transactions:
Previous wording
•We incurred $434 million in net commercial paper borrowings.
Current wording
•We incurred $456 million in net commercial paper borrowings.
Previous wording
•We repurchased 12.3 million shares of our common stock for approximately $700 million.
Current wording
•We repurchased 17.2 million shares of our common stock for approximately $1.0 billion.
Previous wording
•We made dividend payments to common shareholders totaling $54 million.
Current wording
•We made dividend payments to common shareholders totaling $57 million.
Showing the first 40 of 46 pairs. Open the source sections for the rest.
Rearranged current paragraphs (1)
Current report — wording carried from elsewhere
•Year-over-year impact from favorable pricing and increased productivity measures through our FBS initiatives, more than offset by product mix, higher employee costs and inflation — unfavorable 220 basis points
Rearranged previous paragraphs (1)
Previous report — wording carried elsewhere
Geographically, core revenue growth in both the second quarter and the year-to-date period was driven primarily by strong demand in North America as well as solid growth in Latin America and Asia-Pacific, slightly offset by a decline in Europe, Middle East, and Africa (“EMEA”).