Vontier Corp
For the period ended Dec 31, 2023. Filed Feb 15, 2024.
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FY2023 · Filed Feb 15, 2024
VNT$43.13-1.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Earnings and Comprehensive Income
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Sales of products | $2,778.1 | $2,874.3 | $2,712.7 |
| Sales of services | 317.1 | 310.1 | 278.0 |
| Total sales | 3,095.2 | 3,184.4 | 2,990.7 |
| Operating costs and expenses: | |||
| Cost of product sales, excluding amortization of acquisition-related intangible assets | (1,451.0) | (1,552.5) | (1,445.9) |
| Cost of service sales, excluding amortization of acquisition-related intangible assets | (213.0) | (203.6) | (211.7) |
| Selling, general and administrative expenses | (643.1) | (627.8) | (579.2) |
| Research and development expenses | (163.5) | (144.6) | (129.3) |
| Amortization of acquisition-related intangible assets | (81.2) | (78.0) | (42.4) |
| Operating profit | 543.4 | 577.9 | 582.2 |
| Non-operating income (expense), net: | |||
| Interest expense, net | (93.7) | (69.6) | (47.8) |
| Gain on sale of business | 34.4 | — | — |
| Gain on previously held equity interests from combination of business | — | 32.7 | — |
| Unrealized loss on equity securities measured at fair value | — | (8.7) | — |
| Other non-operating expense, net | (0.6) | (4.9) | (0.4) |
| Earnings before income taxes | 483.5 | 527.4 | 534.0 |
| Provision for income taxes | (106.6) | (126.1) | (121.0) |
| Net earnings | $376.9 | $401.3 | $413.0 |
| Net earnings per share: | |||
| Basic | $2.43 | $2.50 | $2.44 |
| Diluted | $2.42 | $2.49 | $2.43 |
| Weighted average shares outstanding: | |||
| Basic | 155.1 | 160.5 | 169.0 |
| Diluted | 156.0 | 161.0 | 170.1 |
| Net earnings | $376.9 | $401.3 | $413.0 |
| Other comprehensive income (loss), net of income taxes: | |||
| Foreign currency translation adjustments | (1.3) | (77.1) | (13.4) |
| Other adjustments | 0.1 | 1.5 | 1.3 |
| Total other comprehensive loss, net of income taxes | (1.2) | (75.6) | (12.1) |
| Comprehensive income | $375.7 | $325.7 | $400.9 |
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