Vontier Corp. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Vontier Corp. has filed its 2023 10-K report detailing its financial performance and business operations for the fiscal year ending December 31, 2023.</b>

AI Summary

Vontier Corp (VNT) filed a Annual Report (10-K) with the SEC on February 15, 2024. Vontier Corp. filed its 2023 Form 10-K on February 15, 2024, reporting on the fiscal year ending December 31, 2023. The company's principal business is in 'Totalizing Fluid Meters & Counting Devices' with SIC code 3824. Vontier Corp. was formerly known as TTF Holdings Corp., with a name change effective August 29, 2019. The filing includes financial data for the fiscal years 2023, 2022, and 2021. The company's business address is located at 5438 Wade Park Blvd., Suite 600, Raleigh, NC 27607.

Why It Matters

For investors and stakeholders tracking Vontier Corp, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Vontier's financial health, operational segments, and strategic direction for investors and stakeholders. The detailed financial statements and risk factors outlined in the report are crucial for understanding the company's performance and future outlook in the industrial applications and services sector.

Risk Assessment

Risk Level: medium — Vontier Corp shows moderate risk based on this filing. The company's filing is a standard 10-K, which typically contains a broad range of financial and operational information, but lacks specific forward-looking guidance or significant strategic shifts that would indicate a higher risk.

Analyst Insight

Review the detailed financial statements and risk factors in the 10-K to assess Vontier's performance and identify potential investment opportunities or risks.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period)
• 2024-02-15 — Filing Date (Date of submission)
• 001-39483 — SEC File Number (Company's SEC file number)
• 842783455 — IRS Number (Company's IRS identification number)

Key Players & Entities

• Vontier Corp. (company) — Filer name
• TTF Holdings Corp. (company) — Former company name
• 2023-12-31 (date) — Fiscal year end
• 2024-02-15 (date) — Filing date
• Raleigh, NC (location) — Business address city and state
• 3824 (industry_code) — Standard Industrial Classification

FAQ

Industry Context

Vontier Corp. operates within the industrial applications and services sector, specifically in totalizing fluid meters and counting devices.

Regulatory Implications

The filing is a standard Form 10-K, adhering to SEC regulations for annual financial reporting.

What Investors Should Do

1. Analyze Vontier's financial statements for the fiscal years 2023, 2022, and 2021 to understand revenue trends and profitability.
2. Review the business description and risk factors to assess the company's operational landscape and potential challenges.
3. Note the company's former name and date of name change for historical context.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-02-15: Filing Date — Date Vontier Corp. submitted its 10-K filing.

Year-Over-Year Comparison

This is the initial 10-K filing for the period ending December 31, 2023, following previous filings for earlier fiscal years.

Key Financial Figures

• $0.0001 — ich registered Common stock, par value $0.0001 per share VNT New York Stock Exchange
• $626.0 million — og as of December 31, 2023 and 2022 was $626.0 million and $677.3 million, respectively. We ex
• $677.3 m — 1, 2023 and 2022 was $626.0 million and $677.3 million, respectively. We expect that a m

Filing Documents

• vnt-20231231.htm (10-K) — 2380KB
• a20231231-ex211.htm (EX-21.1) — 59KB
• a20231231-ex221.htm (EX-22.1) — 4KB
• a20231231-ex231.htm (EX-23.1) — 3KB
• a20231231-ex311.htm (EX-31.1) — 11KB
• a20231231-ex312.htm (EX-31.2) — 11KB
• a20231231-ex321.htm (EX-32.1) — 6KB
• a20231231-ex322.htm (EX-32.2) — 6KB
• a20231231-ex971.htm (EX-97.1) — 11KB
• vnt-20231231_g1.jpg (GRAPHIC) — 329KB
• 0001786842-24-000015.txt (&nbsp;) — 14696KB
• vnt-20231231.xsd (EX-101.SCH) — 74KB
• vnt-20231231_cal.xml (EX-101.CAL) — 149KB
• vnt-20231231_def.xml (EX-101.DEF) — 428KB
• vnt-20231231_lab.xml (EX-101.LAB) — 1136KB
• vnt-20231231_pre.xml (EX-101.PRE) — 776KB
• vnt-20231231_htm.xml (XML) — 2525KB

Business

Business 3 Item 1A.

Risk Factors

Risk Factors 8 Item 1B. Unresolved Staff Comments 20 Item 1C. Cybersecurity 21 Item 2.

Properties

Properties 21 Item 3.

Legal Proceedings

Legal Proceedings 22 Item 4. Mine Safety Disclosures 22 Executive Officers of the Registrant 23 Part II Item 5 . Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 24 Item 6. [Reserved] 25 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 26 Item 7A .

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 39 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 40 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 84 Item 9A.

Controls and Procedures

Controls and Procedures 84 Item 9B. Other Information 84 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 84 Part III Item 10. Directors, Executive Officers and Corporate Governance 84 Item 11.

Executive Compensation

Executive Compensation 84 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 85 Item 13. Certain Relationships and Related Transactions, and Director Independence 85 Item 14. Principal Accountant Fees and Services 85 Part IV Item 15. Exhibit and Financial Statement Schedules 86 Item 16. Form 10-K Summary 86

Signatures

Signatures 89 1 Table of Contents INFORMATION RELATING TO FORWARD-LOOKING STATEMENTS Certain statements included in this Form 10-K are "forward-looking statements" within the meaning of the United States federal securities laws. All statements other than historical factual information are forward-looking statements, including without limitation statements regarding: future financial performance, tax rates, tax provisions, cash flows, pension and benefit obligations and funding requirements, our liquidity position or other financial measures; our management's plans and strategies for future operations, including statements relating to anticipated operating performance, cost reductions, restructuring activities, new product and service developments, competitive strengths or market position, acquisitions and the integration thereof, divestitures, spin-offs, split-offs or other distributions, strategic opportunities, securities offerings, stock repurchases, dividends and executive compensation; growth, declines and other trends in markets we sell into; new or modified laws, regulations and accounting pronouncements; future regulatory approvals and the timing thereof; outstanding claims, legal proceedings, tax audits and assessments and other contingent liabilities; future foreign currency exchange rates and fluctuations in those rates; general economic and capital markets conditions; the anticipated timing of any of the foregoing; assumptions underlying any of the foregoing; and any other statements that address events or developments that we intend or believe will or may occur in the future. Terminology such as "believe," "anticipate," "will," "should," "could," "intend," "plan," "expect," "estimate," "project," "target," "may," "possible," "potential," "forecast" and "positioned" and similar references to future periods are intended to identify forward-looking statements, although not all forward-looking statements are accompanied by such words. Forward-lookin

BUSINESS

ITEM 1. BUSINESS General Vontier Corporation ("Vontier," the "Company," "we," or "our") is a global industrial technology company uniting productivity, automation and multi-energy technologies to meet the needs of a rapidly evolving, more connected mobility ecosystem. Leveraging leading market positions, decades of domain expertise and unparalleled portfolio breadth, Vontier enables the way the world moves, delivering smart, safe and sustainable solutions to our customers and the planet. Vontier Corporation is a Delaware corporation that was incorporated in 2019 in connection with the separation of Vontier from Fortive Corporation ("Fortive") on October 9, 2020, as an independent, publicly-traded company, listed on the New York Stock Exchange (the "Separation"). In this Annual Report on Form 10-K, the terms "Vontier" or the "Company" refer to either Vontier Corporation or to Vontier Corporation and its consolidated subsidiaries, as the context requires. The Company serves a diverse set of end markets across the mobility ecosystem, supplying a wide range of solutions spanning advanced environmental sensing and monitoring equipment, fueling equipment, field payment hardware, point-of-sale, workflow and monitoring software, vehicle tracking and fleet management, software platform for EV charging, alternative fuel dispensing solutions and vehicle service technicians' equipment. Vontier markets its products and services to retail and commercial fueling operators, convenience store operators, car wash operators, commercial vehicle repair businesses, fleet owners/operators and electric vehicle charging network operators on a global basis. Our research and development, manufacturing, sales, distribution, service and administration operations are located in approximately 25 countries primarily across North America, Asia Pacific, Europe and Latin America. We are guided by our shared purpose to mobilize the future to create a better world and are united by a culture

View Full Filing

View this 10-K filing on SEC EDGAR