$ROP
ROPER TECHNOLOGIES INC

2019 Q2 Form 10-Q Financial Statement

#000088283519000037 Filed on August 02, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q2 2018 Q1
Revenue $1.330B $1.294B $1.203B
YoY Change 2.83% 14.01% 10.7%
Cost Of Revenue $480.3M $477.8M $452.0M
YoY Change 0.52% 11.38% 7.95%
Gross Profit $850.0M $815.9M $750.5M
YoY Change 4.18% 15.62% 12.42%
Gross Profit Margin 63.9% 63.07% 62.41%
Selling, General & Admin $481.6M $461.6M $450.3M
YoY Change 4.33% 12.17% 10.02%
% of Gross Profit 56.66% 56.58% 60.0%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $98.20M $90.30M $12.60M
YoY Change 8.75% 4.88% 1.61%
% of Gross Profit 11.55% 11.07% 1.68%
Operating Expenses $481.6M $461.6M $450.3M
YoY Change 4.33% 12.17% 10.02%
Operating Profit $368.4M $354.3M $300.2M
YoY Change 3.98% 20.43% 16.22%
Interest Expense $45.10M $43.20M $43.20M
YoY Change 4.4% -5.68% -5.88%
% of Operating Profit 12.24% 12.19% 14.39%
Other Income/Expense, Net -$1.000M $2.300M -$1.700M
YoY Change -143.48% -67.14% 54.55%
Pretax Income $322.3M $313.4M $255.3M
YoY Change 2.84% 22.71% 20.82%
Income Tax $72.60M $85.00M $44.00M
% Of Pretax Income 22.53% 27.12% 17.23%
Net Earnings $249.7M $228.4M $211.3M
YoY Change 9.33% 27.24% 33.65%
Net Earnings / Revenue 18.77% 17.65% 17.57%
Basic Earnings Per Share $2.40 $2.21 $2.05
Diluted Earnings Per Share $2.38 $2.19 $2.03
COMMON SHARES
Basic Shares Outstanding 103.9M shares 103.2M shares 102.9M shares
Diluted Shares Outstanding 105.1M shares 104.4M shares 104.2M shares

Balance Sheet

Concept 2019 Q2 2018 Q2 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $321.0M $422.0M $366.0M
YoY Change -23.93% -36.35% -49.93%
Cash & Equivalents $320.8M $421.8M $366.2M
Short-Term Investments
Other Short-Term Assets $88.90M $81.70M $72.50M
YoY Change 8.81% 15.07% 5.07%
Inventory $203.5M $201.9M $216.7M
Prepaid Expenses
Receivables $698.2M $669.3M $631.2M
Other Receivables $34.00M $48.00M $46.00M
Total Short-Term Assets $1.602B $1.651B $1.502B
YoY Change -2.96% -2.93% -12.32%
LONG-TERM ASSETS
Property, Plant & Equipment $134.2M $138.6M $140.9M
YoY Change -3.17% -3.08% -2.15%
Goodwill $1.425B $9.389B $8.870B
YoY Change -84.82%
Intangibles $3.943B $3.964B $3.438B
YoY Change -0.53%
Long-Term Investments
YoY Change
Other Assets $381.7M $99.80M $91.50M
YoY Change 282.46% -10.09% -12.02%
Total Long-Term Assets $14.31B $13.71B $12.57B
YoY Change 4.35% 9.57% 0.44%
TOTAL ASSETS
Total Short-Term Assets $1.602B $1.651B $1.502B
Total Long-Term Assets $14.31B $13.71B $12.57B
Total Assets $15.91B $15.36B $14.07B
YoY Change 3.56% 8.08% -1.1%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $162.0M $165.0M $171.0M
YoY Change -1.82% 6.45% 11.76%
Accrued Expenses $475.0M $416.0M $423.0M
YoY Change 14.18% 5.05% 10.44%
Deferred Revenue $729.1M $656.8M $605.5M
YoY Change 11.01%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $2.100M $801.7M $801.3M
YoY Change -99.74% 99.93% 99.83%
Total Short-Term Liabilities $1.443B $2.066B $2.048B
YoY Change -30.16% 37.94% 33.04%
LONG-TERM LIABILITIES
Long-Term Debt $4.719B $4.822B $3.821B
YoY Change -2.13% -8.0% -29.77%
Other Long-Term Liabilities $425.8M $204.9M $238.8M
YoY Change 107.81% 79.74% 113.21%
Total Long-Term Liabilities $5.145B $5.027B $4.060B
YoY Change 2.35% -6.13% -26.88%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.443B $2.066B $2.048B
Total Long-Term Liabilities $5.145B $5.027B $4.060B
Total Liabilities $7.557B $8.058B $6.919B
YoY Change -6.21% 0.56% -16.23%
SHAREHOLDERS EQUITY
Retained Earnings $6.771B $5.833B $5.479B
YoY Change 16.07%
Common Stock $1.100M $1.100M $1.000M
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $18.40M $18.60M $18.60M
YoY Change -1.08%
Treasury Stock Shares
Shareholders Equity $8.351B $7.303B $7.156B
YoY Change
Total Liabilities & Shareholders Equity $15.91B $15.36B $14.07B
YoY Change 3.56% 8.08% -1.1%

Cashflow Statement

Concept 2019 Q2 2018 Q2 2018 Q1
OPERATING ACTIVITIES
Net Income $249.7M $228.4M $211.3M
YoY Change 9.33% 27.24% 33.65%
Depreciation, Depletion And Amortization $98.20M $90.30M $12.60M
YoY Change 8.75% 4.88% 1.61%
Cash From Operating Activities $300.8M $266.1M $281.7M
YoY Change 13.04% 54.8% -25.52%
INVESTING ACTIVITIES
Capital Expenditures -$15.00M -$15.90M -$11.60M
YoY Change -5.66% 28.23% -35.91%
Acquisitions $38.90M
YoY Change 1289.29%
Other Investing Activities -$536.3M -$1.143B $1.000M
YoY Change -53.09% 3939.58% 150.0%
Cash From Investing Activities -$551.3M -$1.159B -$51.50M
YoY Change -52.44% 2740.93% 141.78%
FINANCING ACTIVITIES
Cash Dividend Paid $42.10M
YoY Change 18.93%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 181.4M 968.0M -$551.6M
YoY Change -81.26% -537.42% 38.91%
NET CHANGE
Cash From Operating Activities 300.8M 266.1M $281.7M
Cash From Investing Activities -551.3M -1.159B -$51.50M
Cash From Financing Activities 181.4M 968.0M -$551.6M
Net Change In Cash -69.10M 75.00M -$305.1M
YoY Change -192.13% -183.15% 658.96%
FREE CASH FLOW
Cash From Operating Activities $300.8M $266.1M $281.7M
Capital Expenditures -$15.00M -$15.90M -$11.60M
Free Cash Flow $315.8M $282.0M $293.3M
YoY Change 11.99% 53.01% -25.99%

Facts In Submission

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Contingencies<div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Roper, in the ordinary course of business, is the subject of, or a party to, various pending or threatened legal actions, including product liability and employment practices that, in general, are based upon claims of the kind that have been customary over the past several years and which the Company is vigorously defending. After analyzing the Company’s contingent liabilities on a gross basis and, based upon past experience with resolution of its product liability and employment practices claims and the limits of the primary, excess, and umbrella liability insurance coverages that are available with respect to pending claims, management believes that adequate provision has been made to cover any potential liability not covered by insurance, and that the ultimate liability, if any, arising from these actions should not have a material adverse effect on Roper’s consolidated financial position, results of operations or cash flows.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Roper or its subsidiaries have been named defendants along with numerous industrial companies in asbestos-related litigation claims in certain U.S. states. No significant resources have been required by Roper to respond to these cases and Roper believes it has valid defenses to such claims and, if required, intends to defend them vigorously. Given the state of these claims, it is not possible to determine the potential liability, if any. In April 2018, a stockholder derivative complaint was filed in Sarasota County, Florida against the Company, nominally, and its directors and former chairman &amp; chief executive officer (“CEO”), alleging the directors breached their fiduciary duties and were unjustly enriched by the compensation earned by the nonexecutive directors and the CEO in 2015 and 2016. The matter was settled in June 2019, subject to court approval, which is pending. Under the terms of the settlement, the Company agreed to, among other things, expand future disclosures regarding its compensation practices, submit a new director compensation plan to shareholders for approval in 2020, and pay plaintiff’s attorneys’ fees and expenses.</span></div>
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37200000 USD
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714100000 USD
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43900000 USD
CY2019Q2 us-gaap Contract With Customer Liability Noncurrent
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CY2019Q2 rop Contract With Customer Net Asset Liability
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us-gaap Contract With Customer Liability Increase Decrease For Contract Acquired In Business Combination
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23100000 USD
CY2019Q2 us-gaap Contract With Customer Liability Revenue Recognized
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us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2019Q2 us-gaap Operating Lease Right Of Use Asset
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CY2019Q2 us-gaap Operating Lease Liability Noncurrent
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CY2019Q2 us-gaap Operating Lease Liability
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CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
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CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
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100900000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due
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309100000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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29400000 USD
CY2019Q2 us-gaap Operating Lease Liability
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CY2019Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P7Y
CY2019Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
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0.029

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