2021 Q4 Form 10-K Financial Statement

#000088283522000012 Filed on February 22, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2021
Revenue $1.512B $1.463B $5.778B
YoY Change 13.23% 22.08% 19.03%
Cost Of Revenue $494.3M $466.7M $1.860B
YoY Change 13.71% 20.19% 17.49%
Gross Profit $1.018B $996.1M $3.917B
YoY Change 13.0% 22.99% 19.77%
Gross Profit Margin 67.31% 68.1% 67.8%
Selling, General & Admin $597.9M $592.6M $2.338B
YoY Change 7.17% 23.61% 17.04%
% of Gross Profit 58.73% 59.49% 59.67%
Research & Development $528.4M
YoY Change 24.74%
% of Gross Profit 13.49%
Depreciation & Amortization $157.1M $154.6M $634.1M
YoY Change -3.44% 18.92% 23.63%
% of Gross Profit 15.43% 15.52% 16.19%
Operating Expenses $597.9M $592.6M $2.866B
YoY Change 7.17% 23.61% 18.39%
Operating Profit $320.6M $403.5M $1.480B
YoY Change -6.53% 22.09% 16.23%
Interest Expense -$55.90M $58.20M $234.1M
YoY Change -12.24% -6.43% 7.14%
% of Operating Profit -17.44% 14.42% 15.82%
Other Income/Expense, Net $0.00 -$1.700M $24.90M
YoY Change -100.0% -19.05% -791.67%
Pretax Income $264.7M $343.6M $1.271B
YoY Change -5.36% 29.08% 20.89%
Income Tax $64.80M $83.80M $288.4M
% Of Pretax Income 24.48% 24.39% 22.69%
Net Earnings $287.8M $289.5M $1.153B
YoY Change 12.51% 23.51% 21.36%
Net Earnings / Revenue 19.03% 19.79% 19.95%
Basic Earnings Per Share $2.73 $2.75 $10.95
Diluted Earnings Per Share $2.70 $2.71 $10.82
COMMON SHARES
Basic Shares Outstanding 105.5M shares 105.4M shares 105.3M shares
Diluted Shares Outstanding 106.7M shares 106.5M shares

Balance Sheet

Concept 2021 Q4 2021 Q3 2021
SHORT-TERM ASSETS
Cash & Short-Term Investments $352.0M $353.0M $352.0M
YoY Change 14.29% 16.89% 14.29%
Cash & Equivalents $351.5M $352.5M $352.0M
Short-Term Investments
Other Short-Term Assets $136.1M $136.2M $931.0M
YoY Change 19.07% 10.91% 682.35%
Inventory $69.20M $174.4M $176.0M
Prepaid Expenses
Receivables $687.6M $749.4M $935.0M
Other Receivables $27.00M $27.00M $27.00M
Total Short-Term Assets $2.421B $2.375B $2.421B
YoY Change 38.17% 39.21% 38.18%
LONG-TERM ASSETS
Property, Plant & Equipment $82.70M $105.6M $324.0M
YoY Change -35.04% -27.97% -20.2%
Goodwill $13.48B $13.99B
YoY Change -3.51% -1.2%
Intangibles $6.509B $6.746B
YoY Change -9.19% -5.29%
Long-Term Investments $0.00
YoY Change
Other Assets $369.8M $408.6M $286.0M
YoY Change -4.25% -3.4% 7.92%
Total Long-Term Assets $21.29B $21.35B $21.29B
YoY Change -4.4% -2.7% -4.4%
TOTAL ASSETS
Total Short-Term Assets $2.421B $2.375B $2.421B
Total Long-Term Assets $21.29B $21.35B $21.29B
Total Assets $23.71B $23.73B $23.71B
YoY Change -1.29% 0.32% -1.29%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $151.0M $147.0M $151.0M
YoY Change -15.07% -15.03% -15.17%
Accrued Expenses $398.7M $695.0M $627.0M
YoY Change -4.75% 5.14% -5.86%
Deferred Revenue $1.106B $995.5M
YoY Change 11.72% 14.68%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $799.2M $799.2M $799.0M
YoY Change 60.03% 32.58% 59.16%
Total Short-Term Liabilities $3.122B $2.861B $3.122B
YoY Change 27.71% 22.27% 27.74%
LONG-TERM LIABILITIES
Long-Term Debt $7.123B $7.530B $7.123B
YoY Change -21.4% -17.26% -21.42%
Other Long-Term Liabilities $390.1M $468.8M $426.0M
YoY Change -12.06% -3.56% -10.13%
Total Long-Term Liabilities $7.513B $7.999B $7.549B
YoY Change -20.96% -16.57% -20.86%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.122B $2.861B $3.122B
Total Long-Term Liabilities $7.513B $7.999B $7.549B
Total Liabilities $12.15B $12.39B $12.15B
YoY Change -10.3% -8.19% -10.3%
SHAREHOLDERS EQUITY
Retained Earnings $9.456B $9.233B
YoY Change 10.64% 10.59%
Common Stock $1.100M $1.100M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $17.60M $17.70M
YoY Change -2.22% -2.21%
Treasury Stock Shares 1.800M shares
Shareholders Equity $11.56B $11.34B $11.56B
YoY Change
Total Liabilities & Shareholders Equity $23.71B $23.73B $23.71B
YoY Change -1.29% 0.32% -1.29%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2021
OPERATING ACTIVITIES
Net Income $287.8M $289.5M $1.153B
YoY Change 12.51% 23.51% 21.36%
Depreciation, Depletion And Amortization $157.1M $154.6M $634.1M
YoY Change -3.44% 18.92% 23.63%
Cash From Operating Activities $579.5M $447.3M $2.012B
YoY Change 0.92% 224.37% 31.92%
INVESTING ACTIVITIES
Capital Expenditures -$17.80M -$12.30M -$62.60M
YoY Change 10.56% 1.65% 28.02%
Acquisitions $217.0M
YoY Change -96.39%
Other Investing Activities -$82.70M -$7.900M $700.0K
YoY Change -77.33% -99.86% -73.08%
Cash From Investing Activities -$100.5M -$20.20M -$142.9M
YoY Change -73.62% -99.63% -97.65%
FINANCING ACTIVITIES
Cash Dividend Paid $236.4M
YoY Change 10.42%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -472.6M -406.3M -$1.814B
YoY Change 136.89% -110.68% -143.84%
NET CHANGE
Cash From Operating Activities 579.5M 447.3M $2.012B
Cash From Investing Activities -100.5M -20.20M -$142.9M
Cash From Financing Activities -472.6M -406.3M -$1.814B
Net Change In Cash 6.400M 20.80M $43.20M
YoY Change -203.23% -101.32% -110.76%
FREE CASH FLOW
Cash From Operating Activities $579.5M $447.3M $2.012B
Capital Expenditures -$17.80M -$12.30M -$62.60M
Free Cash Flow $597.3M $459.6M $2.075B
YoY Change 1.19% 206.4% 31.8%

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CY2021 us-gaap Liabilities Assumed1
LiabilitiesAssumed1
32800000 USD
CY2020 us-gaap Liabilities Assumed1
LiabilitiesAssumed1
697300000 USD
CY2019 us-gaap Liabilities Assumed1
LiabilitiesAssumed1
85100000 USD
CY2021 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
217000000.0 USD
CY2020 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
6018100000 USD
CY2019 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
2387300000 USD
CY2021Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0 USD
CY2020Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0 USD
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
105300000 shares
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
104600000 shares
CY2019 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
103900000 shares
CY2021 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1200000 shares
CY2020 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1100000 shares
CY2019 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1200000 shares
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
106500000 shares
CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
105700000 shares
CY2019 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
105100000 shares
CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
521000 shares
CY2020 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
208000 shares
CY2019 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
627000 shares
CY2021 us-gaap Use Of Estimates
UseOfEstimates
<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Estimates</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> - The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities. Actual results could differ from those estimates.</span>
CY2021 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-1400000 USD
CY2020 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-4500000 USD
CY2019 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-3500000 USD
CY2021 us-gaap Number Of Reporting Units
NumberOfReportingUnits
34 reporting_unit
CY2020Q4 rop Capitalized Contract Cost Current
CapitalizedContractCostCurrent
17500000 USD
CY2020 us-gaap Number Of Businesses Acquired
NumberOfBusinessesAcquired
6 acquisition
CY2019 us-gaap Number Of Businesses Acquired
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4 acquisition
CY2021 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
528400000 USD
CY2020 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
423600000 USD
CY2019 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
379700000 USD
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
5777800000 USD
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4854200000 USD
CY2019 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4727700000 USD
CY2021Q4 rop Allowance For Doubtful Accounts Receivable And Sales Returns And Allowances Net Current
AllowanceForDoubtfulAccountsReceivableAndSalesReturnsAndAllowancesNetCurrent
19700000 USD
CY2020Q4 rop Allowance For Doubtful Accounts Receivable And Sales Returns And Allowances Net Current
AllowanceForDoubtfulAccountsReceivableAndSalesReturnsAndAllowancesNetCurrent
28100000 USD
CY2021 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
27200000 USD
CY2020 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
30100000 USD
CY2019 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
30100000 USD
CY2021Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
3790400000 USD
CY2021Q4 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.68
CY2021Q4 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P12M
CY2021Q4 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
65900000 USD
CY2020Q4 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
43100000 USD
CY2021 us-gaap Number Of Businesses Acquired
NumberOfBusinessesAcquired
7 acquisition
us-gaap Number Of Businesses Acquired
NumberOfBusinessesAcquired
4 acquisition
CY2021 us-gaap Goodwill Acquired During Period
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138800000 USD
CY2021Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Intangible Assets Other Than Goodwill
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill
104900000 USD
CY2021 us-gaap Number Of Businesses Acquired
NumberOfBusinessesAcquired
7 acquisition
CY2019 us-gaap Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
2387600000 USD
CY2021 us-gaap Disposal Group Including Discontinued Operation Depreciation And Amortization
DisposalGroupIncludingDiscontinuedOperationDepreciationAndAmortization
5200000 USD
CY2020 us-gaap Disposal Group Including Discontinued Operation Depreciation And Amortization
DisposalGroupIncludingDiscontinuedOperationDepreciationAndAmortization
7900000 USD
CY2019 us-gaap Disposal Group Including Discontinued Operation Depreciation And Amortization
DisposalGroupIncludingDiscontinuedOperationDepreciationAndAmortization
7200000 USD
CY2021Q4 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
112700000 USD
CY2020Q4 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
104000000.0 USD
CY2021Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
30200000 USD
CY2020Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
22900000 USD
CY2021Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
69300000 USD
CY2020Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
74400000 USD
CY2021Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
36100000 USD
CY2020Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
36200000 USD
CY2021Q4 us-gaap Inventory Net
InventoryNet
176100000 USD
CY2020Q4 us-gaap Inventory Net
InventoryNet
165100000 USD
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
439000000.0 USD
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
445100000 USD
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
336200000 USD
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
317800000 USD
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
102800000 USD
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
127300000 USD
CY2021 us-gaap Depreciation
Depreciation
49700000 USD
CY2020 us-gaap Depreciation
Depreciation
46700000 USD
CY2019 us-gaap Depreciation
Depreciation
43100000 USD
CY2019Q4 us-gaap Goodwill
Goodwill
10387300000 USD
CY2020 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
3533000000 USD
CY2020 us-gaap Goodwill Translation And Purchase Accounting Adjustments
GoodwillTranslationAndPurchaseAccountingAdjustments
47300000 USD
CY2020 us-gaap Goodwill Other Increase Decrease
GoodwillOtherIncreaseDecrease
-1600000 USD
CY2020Q4 us-gaap Goodwill
Goodwill
13966000000 USD
CY2021 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
138800000 USD
CY2021 us-gaap Goodwill Translation And Purchase Accounting Adjustments
GoodwillTranslationAndPurchaseAccountingAdjustments
-18100000 USD
CY2021 us-gaap Goodwill Other Increase Decrease
GoodwillOtherIncreaseDecrease
7800000 USD
CY2021Q4 us-gaap Goodwill
Goodwill
14094500000 USD
CY2020Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
9359300000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
2191100000 USD
CY2020Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
7168200000 USD
CY2021Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
9258900000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
2670400000 USD
CY2021Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
6588500000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
579000000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
565000000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
521000000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
493000000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
461000000 USD
CY2021Q4 us-gaap Interest Payable Current
InterestPayableCurrent
42600000 USD
CY2020Q4 us-gaap Interest Payable Current
InterestPayableCurrent
44100000 USD
CY2021Q4 rop Contract With Customer Liability Customer Deposits
ContractWithCustomerLiabilityCustomerDeposits
56900000 USD
CY2020Q4 rop Contract With Customer Liability Customer Deposits
ContractWithCustomerLiabilityCustomerDeposits
48600000 USD
CY2021Q4 us-gaap Dividends Payable Current
DividendsPayableCurrent
66800000 USD
CY2020Q4 us-gaap Dividends Payable Current
DividendsPayableCurrent
60000000.0 USD
CY2021Q4 us-gaap Customer Refund Liability Current
CustomerRefundLiabilityCurrent
63000000.0 USD
CY2020Q4 us-gaap Customer Refund Liability Current
CustomerRefundLiabilityCurrent
51500000 USD
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
51400000 USD
CY2020Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
56800000 USD
CY2021Q4 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
25400000 USD
CY2020Q4 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
33400000 USD
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
134600000 USD
CY2020Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
124200000 USD
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
440700000 USD
CY2020Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
418600000 USD
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
915300000 USD
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
752700000 USD
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
1741200000 USD
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
355700000 USD
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
298700000 USD
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
316200000 USD
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1271000000 USD
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1051400000 USD
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
2057400000 USD
CY2021 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
130600000 USD
CY2020 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
157500000 USD
CY2019 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
366500000 USD
CY2021 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
56800000 USD
CY2020 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
50000000.0 USD
CY2019 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
72000000.0 USD
CY2021 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
94500000 USD
CY2020 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
75300000 USD
CY2019 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
77900000 USD
CY2021 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
28000000.0 USD
CY2020 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-56700000 USD
CY2019 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-47100000 USD
CY2021 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-26600000 USD
CY2020 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-5200000 USD
CY2019 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-2200000 USD
CY2021 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
5100000 USD
CY2020 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
5000000.0 USD
CY2019 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-49700000 USD
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
288400000 USD
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
225900000 USD
CY2019 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
417400000 USD
CY2020 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent
0.033
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2020 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2019 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2021 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0.026
CY2020 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0.017
CY2019 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.001
CY2021 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0.018
CY2020 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0.014
CY2019 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0.005
CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.027
CY2020 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.029
CY2019 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.014
CY2021 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent
0.023
CY2019 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent
0.013
CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.017
CY2020 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0
CY2019 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0
CY2021 us-gaap Effective Income Tax Rate Reconciliation Disposition Of Business
EffectiveIncomeTaxRateReconciliationDispositionOfBusiness
0
CY2020 us-gaap Effective Income Tax Rate Reconciliation Disposition Of Business
EffectiveIncomeTaxRateReconciliationDispositionOfBusiness
0
CY2019 us-gaap Effective Income Tax Rate Reconciliation Disposition Of Business
EffectiveIncomeTaxRateReconciliationDispositionOfBusiness
0.020
CY2021 rop Effective Income Tax Rate Reconciliation Deduction Legal Entity Restructuring Percent
EffectiveIncomeTaxRateReconciliationDeductionLegalEntityRestructuringPercent
0.012
CY2020 rop Effective Income Tax Rate Reconciliation Deduction Legal Entity Restructuring Percent
EffectiveIncomeTaxRateReconciliationDeductionLegalEntityRestructuringPercent
0
CY2019 rop Effective Income Tax Rate Reconciliation Deduction Legal Entity Restructuring Percent
EffectiveIncomeTaxRateReconciliationDeductionLegalEntityRestructuringPercent
0.020
CY2021 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0
CY2020 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.006
CY2019 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.002
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.227
CY2020 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.215
CY2019 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.203
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals
195800000 USD
CY2020Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals
175000000.0 USD
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
101500000 USD
CY2020Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
153600000 USD
CY2021Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
12500000 USD
CY2020Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
26200000 USD
CY2021Q4 rop Deferred Tax Assets Interest Expense
DeferredTaxAssetsInterestExpense
10900000 USD
CY2020Q4 rop Deferred Tax Assets Interest Expense
DeferredTaxAssetsInterestExpense
63000000.0 USD
CY2021Q4 rop Deferred Tax Assets Differences On Assets Held For Sale
DeferredTaxAssetsDifferencesOnAssetsHeldForSale
57500000 USD
CY2020Q4 rop Deferred Tax Assets Differences On Assets Held For Sale
DeferredTaxAssetsDifferencesOnAssetsHeldForSale
0 USD
CY2021Q4 rop Deferred Tax Assets Lease Liability
DeferredTaxAssetsLeaseLiability
52600000 USD
CY2020Q4 rop Deferred Tax Assets Lease Liability
DeferredTaxAssetsLeaseLiability
56300000 USD
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
44400000 USD
CY2020Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
37700000 USD
CY2021Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
386400000 USD
CY2020Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
436400000 USD
CY2021Q4 rop Deferred Tax Liabilities Tax Deferred Expense Reserves And Accruals
DeferredTaxLiabilitiesTaxDeferredExpenseReservesAndAccruals
16100000 USD
CY2020Q4 rop Deferred Tax Liabilities Tax Deferred Expense Reserves And Accruals
DeferredTaxLiabilitiesTaxDeferredExpenseReservesAndAccruals
21500000 USD
CY2021Q4 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets Intangible Assets
DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets
1670200000 USD
CY2020Q4 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets Intangible Assets
DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets
1762800000 USD
CY2021Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
3800000 USD
CY2020Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
7400000 USD
CY2021Q4 us-gaap Deferred Tax Liabilities Undistributed Foreign Earnings
DeferredTaxLiabilitiesUndistributedForeignEarnings
24700000 USD
CY2020Q4 us-gaap Deferred Tax Liabilities Undistributed Foreign Earnings
DeferredTaxLiabilitiesUndistributedForeignEarnings
18600000 USD
CY2021Q4 rop Deferred Tax Liabilities Right Of Use Asset
DeferredTaxLiabilitiesRightOfUseAsset
50000000.0 USD
CY2020Q4 rop Deferred Tax Liabilities Right Of Use Asset
DeferredTaxLiabilitiesRightOfUseAsset
54400000 USD
CY2021Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
1764800000 USD
CY2020Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
1864700000 USD
CY2021Q4 rop Interest Expense Limitation Carryforward
InterestExpenseLimitationCarryforward
10900000 USD
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
44400000 USD
CY2020Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
75600000 USD
CY2019Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
69800000 USD
CY2018Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
63600000 USD
CY2021 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
2200000 USD
CY2020 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
6000000.0 USD
CY2019 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
2900000 USD
CY2021 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
3300000 USD
CY2020 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
3500000 USD
CY2019 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
4200000 USD
CY2021 us-gaap Unrecognized Tax Benefits Increases Resulting From Acquisition
UnrecognizedTaxBenefitsIncreasesResultingFromAcquisition
1000000.0 USD
CY2020 us-gaap Unrecognized Tax Benefits Increases Resulting From Acquisition
UnrecognizedTaxBenefitsIncreasesResultingFromAcquisition
6200000 USD
CY2019 us-gaap Unrecognized Tax Benefits Increases Resulting From Acquisition
UnrecognizedTaxBenefitsIncreasesResultingFromAcquisition
1900000 USD
CY2021 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
600000 USD
CY2020 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
3600000 USD
CY2019 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
300000 USD
CY2021 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
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4600000 USD
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CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
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CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
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309.28
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320.36
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409.36
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350.53
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Contingencies<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Roper, in the ordinary course of business, is party to various pending or threatened legal actions, including product liability, intellectual property, data privacy and employment practices that, in general, are of a nature consistent with those over the past several years. After analyzing the Company’s contingent liabilities on a gross basis and, based upon past experience with resolution of such legal claims and the availability and limits of the primary, excess, and umbrella liability insurance coverages 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. However, no assurances can be given in this regard.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Roper’s subsidiary, Vertafore, Inc., was named in three putative class actions, two in the U.S. District Court for the Southern District of Texas (Allen, et al. v. Vertafore, Inc., Case 4:20-cv-4139, filed December 4, 2020) and Masciotra, et al. v. Vertafore, Inc. (originally filed on December 8, 2020 as Case 1:20-cv-03603 in the U.S. District Court for the District of Colorado and subsequently transferred), and one in the U.S. District Court for the Northern District of Texas (Mulvey, et al. v. Vertafore, Inc., Case 3:21-cv-00213-E, filed January 31, 2021). In July 2021, the court granted Vertafore’s motion to dismiss the Allen Case. Plaintiff has appealed the dismissal to the U.S. Fifth Circuit Court of Appeals. In July 2021, the plaintiff in the Masciotra case voluntarily dismissed his action without prejudice. The Allen case and the Mulvey case each purport to represent approximately 27.7 million individuals who held Texas driver’s licenses prior to February 2019. In November 2020, Vertafore announced that as a result of human error, three data files were inadvertently stored in an unsecured external storage service that appears to have been accessed without authorization. The files, which included driver information for licenses issued before February 2019, contained Texas driver license numbers, as well as names, dates of birth, addresses and vehicle registration histories. The files did not contain any Social Security numbers or financial account information. These cases seek recovery under the Driver’s Privacy Protection Act, 18 U.S.C. § 2721. Vertafore is vigorously defending the cases. In addition, Roper was advised that the Texas Attorney General is investigating the data event. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Roper’s subsidiary, Verathon, Inc. (“Verathon”), is defending a patent infringement action pending in the United States District Court for the Western District of Washington (Berall v. Verathon, Inc., Case No. 2:2021mc00043). Plaintiff claims that video laryngoscopes and certain accessories sold by Verathon from approximately 2006 through 2016 infringe U.S. Patent 5,827,178 (the “‘178 Patent”). The complaint seeks an unspecified amount of damages, enhanced damages, attorneys’ fees, costs, and pre- and post-judgment interest. Verathon contends that the products at issue do not infringe the ‘178 Patent and that the ‘178 Patent is invalid. Verathon is vigorously defending the matter.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">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.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of December 31, 2021, Roper had $84.9 of letters of credit issued to guarantee its performance under certain services contracts or to support certain insurance programs and $659.7 of outstanding surety bonds of which $634.2 are directly associated with our Transcore business. Certain contracts, primarily those involving public sector customers, require Roper to provide a surety bond as a guarantee of its performance of contractual obligations.</span></div>
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84900000 USD
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659700000 USD
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4 segment
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5777800000 USD
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1579700000 USD
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1356100000 USD
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886200000 USD
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22925300000 USD
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29700000 USD
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4854200000 USD
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1273500000 USD
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1225300000 USD
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21134200000 USD
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819500000 USD
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23179000000 USD
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28300000 USD
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17700000 USD
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