Roper (ROP) 10-Q 3 Nov 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	9 Months Ended
	Sep. 30, 2015shares
Document and Entity Information [Abstract]
Entity Registrant Name	Roper Technologies Inc
Entity Central Index Key	882,835
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding	0
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2015

Condensed Consolidated Statemen

Condensed Consolidated Statements of Earnings (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Condensed Consolidated Statements of Earnings (unaudited) [Abstract]
Net sales	$ 883,933	$ 884,122	$ 2,638,755	$ 2,603,349
Cost of sales	350,450	360,082	1,053,200	1,067,191
Gross profit	533,483	524,040	1,585,555	1,536,158
Selling, general and administrative expenses	283,112	278,382	836,314	820,434
Income from operations	250,371	245,658	749,241	715,724
Interest expense, net	20,369	20,013	60,382	59,352
Other income/(expense), net	251	552	(1,948)	1,042
Earnings before income taxes	230,253	226,197	686,911	657,414
Income taxes	69,836	70,687	199,441	197,317
Net earnings	$ 160,417	$ 155,510	$ 487,470	$ 460,097
Earnings per share:
Basic (in dollars per share)	$ 1.59	$ 1.55	$ 4.85	$ 4.61
Diluted (in dollars per share)	$ 1.58	$ 1.54	$ 4.80	$ 4.56
Weighted average common shares outstanding:
Basic (in shares)	100,681	100,068	100,545	99,837
Diluted (in shares)	101,607	101,006	101,512	100,803
Dividends declared per common share (in dollars per share)	$ 0.25	$ 0.20	$ 0.75	$ 0.60

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Comprehensive Income (unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Condensed Consolidated Statements of Comprehensive Income (unaudited) [Abstract]
Net earnings	$ 160,417	$ 155,510	$ 487,470	$ 460,097
Other comprehensive income/(loss), net of tax:
Foreign currency translation adjustments	(49,684)	(60,755)	(104,482)	(53,763)
Post retirement benefit plan adjustment	0	0	1,063	0
Total other comprehensive income/(loss), net of tax	(49,684)	(60,755)	(105,545)	(53,763)
Comprehensive income	$ 110,733	$ 94,755	$ 381,925	$ 406,334

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (unaudited) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Assets
Cash and cash equivalents	$ 700,578	$ 610,430
Accounts receivable, net	489,183	511,538
Inventories, net	200,820	193,766
Deferred taxes	62,506	54,199
Unbilled receivables	105,787	96,409
Assets held for sale	36,780	0
Other current assets	52,225	45,763
Total current assets	1,647,879	1,512,105
Property, plant and equipment, net	105,280	110,876
Goodwill	5,325,844	4,710,691
Other intangible assets, net	2,246,710	1,978,729
Deferred taxes	31,534	27,496
Other assets	75,752	73,037
Total assets	9,432,999	8,412,934
Liabilities and Stockholders' Equity
Accounts payable	142,261	143,847
Accrued compensation	107,266	117,374
Deferred revenue	237,289	190,953
Other accrued liabilities	160,312	160,738
Deferred taxes	2,993	3,943
Current portion of long-term debt, net	6,911	11,092
Total current liabilities	657,032	627,947
Long-term debt, net of current portion	2,792,067	2,203,031
Deferred taxes	769,730	735,826
Other liabilities	85,265	90,770
Total liabilities	$ 4,304,094	$ 3,657,574
Commitments and contingencies (Note 9)
Common stock	$ 1,026	$ 1,021
Additional paid-in capital	1,392,296	1,325,338
Retained earnings	3,932,195	3,520,201
Accumulated other comprehensive earnings	(177,472)	(71,927)
Treasury stock	(19,140)	(19,273)
Total stockholders' equity	5,128,905	4,755,360
Total liabilities and stockholders' equity	$ 9,432,999	$ 8,412,934

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash flows from operating activities:
Net earnings	$ 487,470	$ 460,097
Adjustments to reconcile net earnings to cash flows from operating activities:
Depreciation and amortization of property, plant and equipment	28,454	30,442
Amortization of intangible assets	119,766	117,179
Amortization of deferred financing costs	3,002	3,003
Non-cash stock compensation	47,035	47,011
Changes in operating assets and liabilities, net of acquired businesses:
Accounts receivable	35,215	(5,225)
Unbilled receivables	(9,164)	(16,615)
Inventories	(7,047)	(8,833)
Accounts payable and accrued liabilities	(8,688)	10,342
Income taxes payable	(35,165)	(54,178)
Other, net	(1,311)	(3,991)
Cash provided by operating activities	659,567	579,232
Cash flows from investing activities:
Acquisitions of businesses, net of cash acquired	(1,024,779)	(305,254)
Capital expenditures	(27,503)	(29,835)
Proceeds from sale of assets	724	1,262
Other, net	(5,093)	(6,566)
Cash used in investing activities	(1,056,651)	(340,393)
Cash flows from financing activities:
Proceeds from (Repayments of) revolving line of credit, net	590,000	(95,000)
Principal payments on senior notes	0	0
Principal payments on convertible notes	(4,006)	(561)
Cash premiums paid on convertible note conversions	(13,126)	(1,518)
Cash dividends to stockholders	(75,210)	(59,827)
Proceeds from stock based compensation, net	19,237	26,424
Stock award tax excess windfall benefit	11,593	14,892
Treasury stock sales	2,117	2,080
Other	(1,273)	38
Cash used in financing activities	529,332	(113,472)
Effect of foreign currency exchange rate changes on cash	(42,100)	(20,975)
Net increase in cash and cash equivalents	90,148	104,392
Cash and cash equivalents, beginning of period	610,430	459,720
Cash and cash equivalents, end of period	$ 700,578	$ 564,112

Condensed Consolidated Stateme6

Condensed Consolidated Statement of Changes in Stockholders' Equity (unaudited) - 9 months ended Sep. 30, 2015 - USD ($) $ in Thousands	Common stock [Member]	Additional paid-in capital [Member]	Retained earnings [Member]	Accumulated other comprehensive earnings [Member]	Treasury stock [Member]	Total
Beginning Balance at Dec. 31, 2014	$ 1,021	$ 1,325,338	$ 3,520,201	$ (71,927)	$ (19,273)	$ 4,755,360
Net earnings	0	0	487,470	0	0	487,470
Stock option exercises	2	21,339	0	0	0	21,341
Treasury stock sold	0	1,984	0	0	133	2,117
Currency translation adjustments, net of tax	0	0	0	(104,482)	0	(104,482)
Stock based compensation	0	47,035	0	0	0	47,035
Restricted stock activity	3	(2,110)	0	0	0	(2,107)
Stock option tax benefit, net of shortfalls	0	10,887	0	0	0	10,887
Conversion of senior subordinated convertible notes, net of tax	0	(12,177)	0	0	0	(12,177)
Dividends declared	0	0	(75,476)	0	0	(75,476)
Post retirement benefit plan adjustments	0	0	0	(1,063)	0	(1,063)
Ending Balance at Sep. 30, 2015	$ 1,026	$ 1,392,296	$ 3,932,195	$ (177,472)	$ (19,140)	$ 5,128,905

Condensed Consolidated Stateme7

Condensed Consolidated Statement of Changes in Stockholders' Equity (unaudited) (Parenthetical) $ in Thousands	9 Months Ended
	Sep. 30, 2015USD ($)
Condensed Consolidated Statement of Changes in Stockholders' Equity (unaudited) [Abstract]
Currency translation adjustments, tax	$ 6,013
Conversion of senior subordinated convertible notes, tax	$ 949

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2015
Basis of Presentation [Abstract]
Basis of Presentation	1. Basis of Presentation Effective April 24, 2015, Roper Industries, Inc. changed its name to Roper Technologies, Inc. in order to reflect its continued evolution to a diversified technology company. The accompanying condensed consolidated financial statements for the three and nine month periods ended September 30, 2015 and 2014 are unaudited. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments, which include only normal recurring adjustments, necessary to state fairly the financial position, results of operations, comprehensive income and cash flows of Roper Technologies, Inc. and its subsidiaries ("Roper" or the "Company") for all periods presented. The December 31, 2014 financial position data included herein was derived from the audited consolidated financial statements included in the 2014 Annual Report on Form 10-K ("Annual Report") filed on February 20, 2015 with the Securities and Exchange Commission ("SEC") but does not include all disclosures required by U.S. generally accepted accounting principles ("GAAP"). Roper's management has made estimates and assumptions relating to the reporting of assets and liabilities and the disclosure of contingent assets and liabilities to prepare these condensed consolidated financial statements in conformity with GAAP. Actual results could differ from those estimates. The results of operations for the three and nine month periods ended September 30, 2015 are not necessarily indicative of the results to be expected for the full year. You should read these unaudited condensed consolidated financial statements in conjunction with Roper's consolidated financial statements and the notes thereto included in its Annual Report.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2015
Recent Accounting Pronouncements [Abstract]
Description of New Accounting Pronouncements Not yet Adopted [Text Block]	2. Recent Accounting Pronouncements The Financial Accounting Standards Board ("FASB") establishes changes to accounting principles under GAAP in the form of accounting standards updates ("ASUs") to the FASB's Accounting Standards Codification. The Company considers the applicability and impact of all ASUs. In September 2015, the FASB issued an update providing guidance to simplify the accounting for measurement period adjustments. This update, effective for fiscal years beginning after December 15, 2015, including interim periods within those fiscal years, requires that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. The Company does not expect the updates to have a material impact on its results of operations, financial condition or cash flows. In July 2015, the FASB issued an update providing guidance to simplify the measurement of inventory. This update, effective for fiscal years beginning after December 15, 2016, requires that inventory within the scope of the update be measured at the lower of cost and net realizable value. The Company does not expect the updates to have a material impact on its results of operations, financial condition or cash flows. In April 2015, the FASB issued an update providing guidance to customers about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, then the software license element of the arrangement should be accounted for consistently with the acquisition of other software licenses. A cloud computing arrangement that does not include a software license should be accounted for as a service contract. The update is effective for annual periods beginning after December 15, 2015, and may be adopted prospectively or retrospectively. The Company does not expect this update to have a material impact on its results of operations, financial condition or cash flows. In April 2015, the FASB issued an update related to the presentation of debt issuance costs. This update, effective for fiscal years beginning after December 15, 2015, requires that debt issuance costs related to a debt liability be reported in the balance sheet as a direct deduction from the face amount of that debt liability. The Company does not expect this update to have a material impact on its results of operations, financial condition or cash flows. In June 2014, the FASB issued updates to the accounting for stock compensation. These updates, effective for fiscal years beginning after December 15, 2015, modify the accounting for share-based payments when the terms of an award provide that a performance target could be achieved after the requisite service period. The Company does not expect the updates to have an impact on its results of operations, financial condition or cash flows. In May 2014, the FASB issued updates on accounting and disclosures for revenue from contracts with customers. These updates, effective for annual reporting periods after December 15, 2017, create a single, comprehensive revenue recognition model for all contracts with customers. The model is based on changes in contract assets (rights to receive consideration) and liabilities (obligations to provide a good or service). Revenue will be recognized based on the satisfaction of performance obligations, which occurs when control of a good or service transfers to a customer. The Company is evaluating the impact of these updates on its results of operations, financial condition and cash flows.

Business Acquisitions

Business Acquisitions	9 Months Ended
	Sep. 30, 2015
Business Acquisitions [Abstract]
Business Acquisitions [Text Block]	4. Business Acquisitions and Disposals Roper completed six business acquisitions in the nine month period ended September 30, 2015, with an aggregate purchase price of $1.0 billion using a combination of cash on hand and borrowings under its revolving credit facility. The results of operations of the acquired companies have been included in Roper's consolidated results since the date of each acquisition. Supplemental pro forma information has not been provided as the acquisitions did not have a material impact on Roper's consolidated results of operations individually or in aggregate. During the first quarter of 2015, Roper acquired 100% of the shares of Strata Decision Technology LLC, a provider of planning and budget software for health care providers on January 21, SoftWriters Inc., a provider of long-term care pharmacy operating software on February 9, and Data Innovations LLC, a provider of clinical and blood laboratory middleware on March 4. All three are reported in the Medical & Scientific Imaging segment. During the third quarter of 2015, Roper acquired 100% of the shares of On Center Software, LLC, a leading construction automation technology company on July 20 and RF IDeas, Inc, a provider of proprietary identification card technology solutions on September 1, both of which are reported in the RF Technology segment. Roper also acquired the assets of Atlantic Health Partners, LLC, a group purchasing organization specializing in vaccines for the physician marketplace on September 4, which is reported in the Medical & Scientific Imaging segment. During the nine months ended September 30, 2015, the Company expensed transaction costs of $3.6 million related to the acquisitions as corporate general and administrative expenses, as incurred. The Company recorded $683 million in goodwill and $400 million of other identifiable intangibles in connection with the acquisitions; however, purchase price allocations are preliminary pending final intangible valuations and tax-related adjustments. Of the $400 million intangible assets acquired, $31 million was assigned to trade names that are not subject to amortization. The remaining $369 million of acquired intangible assets have a weighted average useful life of 16 years. The intangible assets that make up that amount include customer relationships of $287 million (18 year weighted average useful life), unpatented technology of $43 million (8 year weighted average useful life) and software of $39 million (6 year weighted average useful life).

Discontinued Operations and Dis

Discontinued Operations and Disposal Groups	9 Months Ended
	Sep. 30, 2015
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations and Disposal Groups [Text Block]	On October 2, 2015 Roper completed the sale of Abel Pumps LP ("Abel"), which was reported in its Industrial Technology segment, for €95 million. At September 30, 2015, the assets of Abel were reclassified to Assets held for sale on Roper's Condensed Consolidated Balance Sheet, and the liabilities reclassified to Other accrued liabilities. The carrying amounts of the assets and liabilities by major class prior to the reclassification were as follows (amounts in thousands): September 30, 2015 Current assets $ 13,165 Noncurrent assets 23,615 Total assets $ 36,780 Current liabilities $ 3,962 Noncurrent liabilities 49 Total liabilities $ 4,011

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Earnings Per Share	3. Earnings Per Share Basic earnings per share were calculated using net earnings and the weighted average number of shares of common stock outstanding during the respective period. Diluted earnings per share were calculated using net earnings and the weighted average number of shares of common stock and potential common stock outstanding during the respective period. Potentially dilutive common stock consisted of stock options and the premium over the conversion price on Roper's senior subordinated convertible notes based upon the trading price of Roper's common stock. The effects of potential common stock were determined using the treasury stock method. Weighted average shares outstanding are shown below (in thousands): Three months ended September 30, Nine months ended September 30, 2015 2014 2015 2014 Basic shares outstanding 100,681 100,068 100,545 99,837 Effect of potential common stock: Common stock awards 847 788 868 815 Senior subordinated convertible notes 79 150 99 151 Diluted shares outstanding 101,607 101,006 101,512 100,803 For the three and nine month periods ended September 30, 2015 there were 665,720 outstanding stock options that were not included in the determination of diluted earnings per share because doing so would have been antidilutive, as compared to 670,000 and 781,000 outstanding stock options, respectively, that would have been antidilutive for the three and nine month periods ended September 30, 2014.

Stock Based Compensation

Stock Based Compensation	9 Months Ended
	Sep. 30, 2015
Stock Based Compensation [Abstract]
Stock-Based Compensation	5. Stock Based Compensation The Roper Technologies, Inc. Amended and Restated 2006 Incentive Plan is a stock-based compensation plan used to grant incentive stock options, nonqualified stock options, restricted stock, stock appreciation rights or equivalent instruments to Roper's employees, officers and directors. Roper's stock purchase plan allows employees in the U.S. and Canada to designate up to 10% of eligible earnings to purchase Roper's common stock at a 5% discount to the average closing price of the stock at the beginning and end of a quarterly offering period. Common stock sold to employees may be either treasury stock, stock purchased on the open market, or newly issued shares. The following table provides information regarding the Company's stock-based compensation expense (in thousands): Three months ended September 30, Nine months ended September 30, 2015 2014 2015 2014 Stock based compensation $ 17,597 $ 16,998 $ 47,035 $ 47,011 Tax effect recognized in net income 6,159 5,949 16,462 16,454 Windfall tax benefit/(shortfall), net 2,132 3,126 10,887 14,727 Stock Options - Roper records compensation expense for employee stock options based on the estimated fair value of the options on the date of grant using the Black-Scholes option-pricing model. Historical data is used to estimate the expected price volatility, the expected dividend yield, the expected option life and the expected forfeiture rate. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of grant for the estimated life of the option. The following weighted average assumptions were used to estimate the fair value of options granted during current and prior year periods using the Black-Scholes option-pricing model: Nine Months Ended September 30, 2015 2014 Risk-free interest rate (%) 1.52 1.63 Expected option life (years) 5.10 5.23 Expected volatility (%) 22.23 27.27 Expected dividend yield (%) 0.62 0.59 Cash received from option exercises for the nine months ended September 30, 2015 and 2014 was $21.3 million and $29.5 million, respectively. Restricted Stock Awards - During the nine months ended September 30, 2015, 61,889 restricted awards vested with a weighted average grant date fair value of $129.11 per restricted share, and a weighted average vest date fair value of $166.95 per restricted share. Employee Stock Purchase Plan

Inventories

Inventories	9 Months Ended
	Sep. 30, 2015
Inventories [Abstract]
Inventories	6. Inventories The components of inventory were as follows (in thousands): September 30, 2015 December 31, 2014 Raw materials and supplies $ 124,013 $ 124,103 Work in process 24,536 29,358 Finished products 85,883 79,184 Inventory reserves (33,612 ) (38,879 ) $ 200,820 $ 193,766

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
	Sep. 30, 2015
Goodwill and Other Intangible Assets [Abstract]
Goodwill and Other Intangible Assets	7. Goodwill and Other Intangible Assets The carrying value of goodwill by segment was as follows (in thousands): Medical & RF Technology Industrial Technology Energy Systems Total Balances at December 31, 2014 $ 2,594,356 $ 1,280,788 $ 408,964 $ 426,583 $ 4,710,691 Goodwill acquired 447,073 235,455 - - 682,528 Goodwill related to assets held for sale - - (20,524 ) - (20,524 ) Other 791 (167 ) - - 624 Currency translation adjustments (24,684 ) (5,073 ) (11,489 ) (6,229 ) (47,475 ) Balances at September 30, 2015 $ 3,017,536 $ 1,511,003 $ 376,951 $ 420,354 $ 5,325,844 Other relates to purchase accounting adjustments to 2014 acquisitions related to tax balances and intangible valuations. Other intangible assets were comprised of (in thousands): Cost Accumulated amortization Net book value Assets subject to amortization: Customer related intangibles $ 1,975,334 $ (543,594 ) $ 1,431,740 Unpatented technology 217,260 (134,702 ) 82,558 Software 156,449 (62,882 ) 93,567 Patents and other protective rights 26,463 (18,325 ) 8,138 Backlog 1,100 (443 ) 657 Trade names 622 (72 ) 550 Assets not subject to amortization: Trade names 361,519 - 361,519 Balances at December 31, 2014 $ 2,738,747 $ (760,018 ) $ 1,978,729 Assets subject to amortization: Customer related intangibles $ 2,198,067 $ (571,546 ) $ 1,626,521 Unpatented technology 214,520 (110,363 ) 104,157 Software 161,218 (40,186 ) 121,032 Patents and other protective rights 24,530 (18,365 ) 6,165 Backlog 700 (700 ) - Trade names 607 (111 ) 496 Assets not subject to amortization: Trade names 388,339 - 388,339 Balances at September 30, 2015 $ 2,987,981 $ (741,271 ) $ 2,246,710 Amortization expense of other intangible assets was $118,119 and $114,317 during the nine months ended September 30, 2015 and 2014, respectively. An evaluation of the carrying value of goodwill and indefinite-lived intangibles is required to be performed on an annual basis and on an interim basis if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying value. There have been no events or changes in circumstances which indicate an interim impairment review is required in 2015. The Company expects to perform the annual analysis during the fourth quarter.

Debt

Debt	9 Months Ended
	Sep. 30, 2015
Debt [Abstract]
Debt	8. Debt Roper's 3.75% senior subordinated convertible notes due 2034 became convertible on January 15, 2009. During the nine months ended September 30, 2015, 8,066 notes were converted by note holders for $17.1 million in cash. No gain or loss was recorded upon these conversions. In addition, a related $0.9 million deferred tax liability associated with excess deductions recorded for tax purposes was relieved to additional paid-in capital upon the conversions. At September 30, 2015, the conversion price on the remaining outstanding notes was $506.85 per note. If converted at September 30, 2015, the value would have exceeded the $4 million principal amount of the outstanding notes by $12 million and could have resulted in the issuance of 76,838 shares of Roper's common stock.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2015
Fair Value of Financial Instruments [Abstract]
Fair Value of Financial Instruments	9. Fair Value of Financial Instruments Roper's debt at September 30, 2015 included $2.2 billion of fixed-rate senior notes with the following fair values (in millions): $400 million senior notes due 2017 $ 400 $800 million senior notes due 2018 798 $500 million senior notes due 2019 563 $500 million senior notes due 2022 496 The fair values of the senior notes are based on the trading prices of the notes, which the Company has determined to be Level 2 in the FASB fair value hierarchy. Short-term debt at September 30, 2015 included $4 million of fixed-rate convertible notes which were at fair value due to the ability of note holders to exercise the conversion option of the notes.

Contingencies

Contingencies	9 Months Ended
	Sep. 30, 2015
Contingencies [Abstract]
Contingencies	10. Contingencies 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. It is vigorously contesting all lawsuits that, in general, are based upon claims of the kind that have been customary over the past several years. 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. Over recent years there has been an increase in certain U.S. states in asbestos-related litigation claims against numerous industrial companies. Roper or its subsidiaries have been named defendants in some such cases. No significant resources have been required by Roper to respond to these cases and the Company 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. Roper's consolidated financial statements include accruals for potential product liability and warranty claims based on its claims experience. Such costs are accrued at the time revenue is recognized. A summary of the warranty accrual activity for the nine months ended September 30, 2015 is presented below (in thousands): Balance at December 31, 2014 $ 9,537 Additions charged to costs and expenses 9,570 Deductions (9,512 ) Other (487 ) Balances at September 30, 2015 $ 9,108

Business Segments

Business Segments	9 Months Ended
	Sep. 30, 2015
Business Segments [Abstract]
Business Segments	11. Business Segments Sales and operating profit by industry segment are set forth in the following table (dollars in thousands): Three months ended September 30, Nine months ended September 30, 2015 2014 Change 2015 2014 Change Net sales: Medical & Scientific Imaging $ 299,621 $ 268,809 11.5 % $ 893,583 $ 793,899 12.6 % RF Technology 253,556 238,860 6.2 % 752,068 710,143 5.9 % Industrial Technology 186,147 205,688 (9.5 )% 563,342 607,503 (7.3 )% Energy Systems & Controls 144,609 170,765 (15.3 )% 429,762 491,804 (12.6 )% Total $ 883,933 $ 884,122 0.0 % $ 2,638,755 $ 2,603,349 1.4 % Gross profit: Medical & Scientific Imaging $ 222,655 $ 193,132 15.3 % $ 660,971 $ 572,738 15.4 % RF Technology 133,692 127,663 4.7 % 397,874 375,901 5.8 % Industrial Technology 92,245 104,012 (11.3 )% 281,052 306,464 (8.3 )% Energy Systems & Controls 84,891 99,233 (14.5 )% 245,658 281,055 (12.6 )% Total $ 533,483 $ 524,040 1.8 % $ 1,585,555 $ 1,536,158 3.2 % Operating profit*: Medical & Scientific Imaging $ 108,399 $ 91,227 18.8 % $ 325,439 $ 275,379 18.2 % RF Technology 74,604 69,351 7.6 % 228,521 203,183 12.5 % Industrial Technology 52,298 62,046 (15.7 )% 162,383 178,540 (9.0 )% Energy Systems & Controls 42,300 49,033 (13.7 )% 110,424 130,844 (15.6 )% Total $ 277,601 $ 271,657 2.2 % $ 826,767 $ 787,946 4.9 % Long-lived assets: Medical & Scientific Imaging $ 35,818 $ 44,513 (19.5 )% RF Technology 29,570 29,211 1.2 % Industrial Technology 40,170 47,147 (14.8 )% Energy Systems & Controls 13,915 17,537 (20.7 )% Total $ 119,473 $ 138,408 (13.7 )% *Segment operating profit is before unallocated corporate general and administrative expenses. These expenses were $27,230 and $25,999 for the three months ended September 30, 2015 and 2014, respectively, and $77,526 and $72,222 for the nine months ended September 30, 2015 and 2014, respectively.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2015
Subsequent Events [Abstract]
Subsequent Events [Text Block]	12. Subsequent Events On October 2, 2015 Roper completed the sale of Abel, which was reported in its Industrial Technology segment, for €95 million. See Note 4 for additional information regarding the sale. On October 21, 2015, Roper acquired 100% of the shares of Aderant Holdings Inc., ("Aderant") a comprehensive, end-to-end platform of software solutions for law firms On October 26, 2015 Roper acquired 100% of the shares of Atlas Database Software Corp. ("Atlas"), a coordinated diagnostics medical software platform for $48 million in cash. Atlas will be reported in the Medical & Scientific Imaging segment. Roper has entered into a share purchase agreement to acquire Clinisys Group, Ltd, a UK provider of hospital laboratory software, for £170 million. The acquisition is subject to customary regulatory approval and is expected to close in the first quarter of 2016. Roper's $1.5 billion unsecured credit facility dated July 27, 2012 includes a provision for Roper to request additional term loans or revolving credit commitments, not to exceed $350 million. On October 28, 2015, Roper increased its revolving credit capacity by $350 million.

Earnings Per Share (Policies)

Earnings Per Share (Policies)	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Earnings Per Share Policy	Basic earnings per share were calculated using net earnings and the weighted average number of shares of common stock outstanding during the respective period. Diluted earnings per share were calculated using net earnings and the weighted average number of shares of common stock and potential common stock outstanding during the respective period. Potentially dilutive common stock consisted of stock options and the premium over the conversion price on Roper's senior subordinated convertible notes based upon the trading price of Roper's common stock. The effects of potential common stock were determined using the treasury stock method. Weighted average shares outstanding are shown below (in thousands):

Stock Based Compensation (Polic

Stock Based Compensation (Policies)	9 Months Ended
	Sep. 30, 2015
Stock Based Compensation [Abstract]
Stock Based Compensation	Roper records compensation expense for employee stock options based on the estimated fair value of the options on the date of grant using the Black-Scholes option-pricing model. Historical data is used to estimate the expected price volatility, the expected dividend yield, the expected option life and the expected forfeiture rate. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of grant for the estimated life of the option. The following weighted average assumptions were used to estimate the fair value of options granted during current and prior year periods using the Black-Scholes option-pricing model:

Discontinued Operations and D23

Discontinued Operations and Disposal Groups (Tables)	9 Months Ended
	Sep. 30, 2015
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations [Table Text Block]	On October 2, 2015 Roper completed the sale of Abel Pumps LP ("Abel"), which was reported in its Industrial Technology segment, for €95 million. At September 30, 2015, the assets of Abel were reclassified to Assets held for sale on Roper's Condensed Consolidated Balance Sheet, and the liabilities reclassified to Other accrued liabilities. The carrying amounts of the assets and liabilities by major class prior to the reclassification were as follows (amounts in thousands): September 30, 2015 Current assets $ 13,165 Noncurrent assets 23,615 Total assets $ 36,780 Current liabilities $ 3,962 Noncurrent liabilities 49 Total liabilities $ 4,011

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Schedule Of Weighted Average Number Of Shares Outstanding Basic To Diluted	Three months ended September 30, Nine months ended September 30, 2015 2014 2015 2014 Basic shares outstanding 100,681 100,068 100,545 99,837 Effect of potential common stock: Common stock awards 847 788 868 815 Senior subordinated convertible notes 79 150 99 151 Diluted shares outstanding 101,607 101,006 101,512 100,803 For the three and nine month periods ended September 30, 2015 there were 665,720 outstanding stock options that were not included in the determination of diluted earnings per share because doing so would have been antidilutive, as compared to 670,000 and 781,000 outstanding stock options, respectively, that would have been antidilutive for the three and nine month periods ended September 30, 2014.

Stock Based Compensation (Table

Stock Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2015
Stock Based Compensation [Abstract]
Stock Based Compensation Expense	The following table provides information regarding the Company's stock-based compensation expense (in thousands): Three months ended September 30, Nine months ended September 30, 2015 2014 2015 2014 Stock based compensation $ 17,597 $ 16,998 $ 47,035 $ 47,011 Tax effect recognized in net income 6,159 5,949 16,462 16,454 Windfall tax benefit/(shortfall), net 2,132 3,126 10,887 14,727
Weighted average assumptions used to value option grants	Nine Months Ended September 30, 2015 2014 Risk-free interest rate (%) 1.52 1.63 Expected option life (years) 5.10 5.23 Expected volatility (%) 22.23 27.27 Expected dividend yield (%) 0.62 0.59

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2015
Inventories [Abstract]
Inventories	The components of inventory were as follows (in thousands): September 30, 2015 December 31, 2014 Raw materials and supplies $ 124,013 $ 124,103 Work in process 24,536 29,358 Finished products 85,883 79,184 Inventory reserves (33,612 ) (38,879 ) $ 200,820 $ 193,766

Goodwill and Other Intangible27

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2015
Goodwill and Other Intangible Assets [Abstract]
Goodwill	The carrying value of goodwill by segment was as follows (in thousands): Medical & RF Technology Industrial Technology Energy Systems Total Balances at December 31, 2014 $ 2,594,356 $ 1,280,788 $ 408,964 $ 426,583 $ 4,710,691 Goodwill acquired 447,073 235,455 - - 682,528 Goodwill related to assets held for sale - - (20,524 ) - (20,524 ) Other 791 (167 ) - - 624 Currency translation adjustments (24,684 ) (5,073 ) (11,489 ) (6,229 ) (47,475 ) Balances at September 30, 2015 $ 3,017,536 $ 1,511,003 $ 376,951 $ 420,354 $ 5,325,844
Other Intangible Assets	Other intangible assets were comprised of (in thousands): Cost Accumulated amortization Net book value Assets subject to amortization: Customer related intangibles $ 1,975,334 $ (543,594 ) $ 1,431,740 Unpatented technology 217,260 (134,702 ) 82,558 Software 156,449 (62,882 ) 93,567 Patents and other protective rights 26,463 (18,325 ) 8,138 Backlog 1,100 (443 ) 657 Trade names 622 (72 ) 550 Assets not subject to amortization: Trade names 361,519 - 361,519 Balances at December 31, 2014 $ 2,738,747 $ (760,018 ) $ 1,978,729 Assets subject to amortization: Customer related intangibles $ 2,198,067 $ (571,546 ) $ 1,626,521 Unpatented technology 214,520 (110,363 ) 104,157 Software 161,218 (40,186 ) 121,032 Patents and other protective rights 24,530 (18,365 ) 6,165 Backlog 700 (700 ) - Trade names 607 (111 ) 496 Assets not subject to amortization: Trade names 388,339 - 388,339 Balances at September 30, 2015 $ 2,987,981 $ (741,271 ) $ 2,246,710

Fair Value of Financial Instr28

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2015
Fair Value of Financial Instruments [Abstract]
Fixed-Rate Senior Notes, Fair Value	Roper's debt at September 30, 2015 included $2.2 billion of fixed-rate senior notes with the following fair values (in millions): $400 million senior notes due 2017 $ 400 $800 million senior notes due 2018 798 $500 million senior notes due 2019 563 $500 million senior notes due 2022 496

Contingencies (Tables)

Contingencies (Tables)	9 Months Ended
	Sep. 30, 2015
Contingencies [Abstract]
Warranty Accrual Activity	Roper's consolidated financial statements include accruals for potential product liability and warranty claims based on its claims experience. Such costs are accrued at the time revenue is recognized. A summary of the warranty accrual activity for the nine months ended September 30, 2015 is presented below (in thousands): Balance at December 31, 2014 $ 9,537 Additions charged to costs and expenses 9,570 Deductions (9,512 ) Other (487 ) Balances at September 30, 2015 $ 9,108

Business Segments (Tables)

Business Segments (Tables)	9 Months Ended
	Sep. 30, 2015
Business Segments [Abstract]
Sales and operating profit by business segment Table	Sales and operating profit by industry segment are set forth in the following table (dollars in thousands): Three months ended September 30, Nine months ended September 30, 2015 2014 Change 2015 2014 Change Net sales: Medical & Scientific Imaging $ 299,621 $ 268,809 11.5 % $ 893,583 $ 793,899 12.6 % RF Technology 253,556 238,860 6.2 % 752,068 710,143 5.9 % Industrial Technology 186,147 205,688 (9.5 )% 563,342 607,503 (7.3 )% Energy Systems & Controls 144,609 170,765 (15.3 )% 429,762 491,804 (12.6 )% Total $ 883,933 $ 884,122 0.0 % $ 2,638,755 $ 2,603,349 1.4 % Gross profit: Medical & Scientific Imaging $ 222,655 $ 193,132 15.3 % $ 660,971 $ 572,738 15.4 % RF Technology 133,692 127,663 4.7 % 397,874 375,901 5.8 % Industrial Technology 92,245 104,012 (11.3 )% 281,052 306,464 (8.3 )% Energy Systems & Controls 84,891 99,233 (14.5 )% 245,658 281,055 (12.6 )% Total $ 533,483 $ 524,040 1.8 % $ 1,585,555 $ 1,536,158 3.2 % Operating profit*: Medical & Scientific Imaging $ 108,399 $ 91,227 18.8 % $ 325,439 $ 275,379 18.2 % RF Technology 74,604 69,351 7.6 % 228,521 203,183 12.5 % Industrial Technology 52,298 62,046 (15.7 )% 162,383 178,540 (9.0 )% Energy Systems & Controls 42,300 49,033 (13.7 )% 110,424 130,844 (15.6 )% Total $ 277,601 $ 271,657 2.2 % $ 826,767 $ 787,946 4.9 % Long-lived assets: Medical & Scientific Imaging $ 35,818 $ 44,513 (19.5 )% RF Technology 29,570 29,211 1.2 % Industrial Technology 40,170 47,147 (14.8 )% Energy Systems & Controls 13,915 17,537 (20.7 )% Total $ 119,473 $ 138,408 (13.7 )% *Segment operating profit is before unallocated corporate general and administrative expenses. These expenses were $27,230 and $25,999 for the three months ended September 30, 2015 and 2014, respectively, and $77,526 and $72,222 for the nine months ended September 30, 2015 and 2014, respectively.

Business Acquisitions (Details)

Business Acquisitions (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2015USD ($)Business	Dec. 31, 2014USD ($)
Business Acquisition [Line Items]
Goodwill	$ 5,325,844	$ 4,710,691
Series of Individually Immaterial Business Acquisitions [Member]
Business Acquisition [Line Items]
Number of business acquired | Business	6
Cost of Acquired Entity Purchase Price	$ 1,000,000
Intangible Assets Other than Goodwill	400,000
Goodwill	683,000
Cost of Acquired Entity Transaction Costs	3,600
Finite lived intangible assets	369,000
Indefinite lived intangible assets	$ 31,000
Weighted average useful life	16 years
Series of Individually Immaterial Business Acquisitions [Member] | Customer Relationships [Member]
Business Acquisition [Line Items]
Finite lived intangible assets	$ 287,000
Weighted average useful life	18 years
Series of Individually Immaterial Business Acquisitions [Member] | Unpatented Technology [Member]
Business Acquisition [Line Items]
Finite lived intangible assets	$ 43,000
Weighted average useful life	8 years
Series of Individually Immaterial Business Acquisitions [Member] | Software [Member]
Business Acquisition [Line Items]
Finite lived intangible assets	$ 39,000
Weighted average useful life	6 years

Discontinued Operations and D32

Discontinued Operations and Disposal Groups (Details) $ in Thousands, € in Millions	9 Months Ended
	Sep. 30, 2015USD ($)	Sep. 30, 2015EUR (€)	Dec. 31, 2014USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Current assets	$ 36,780		$ 0
Abel Pumps LP [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Group, Including Discontinued Operation, Description and Timing of Disposal	On October 2, 2015 Roper completed the sale of Abel Pumps LP ("Abel"), which was reported in its Industrial Technology segment, for €95 million.
Disposal Group, Including Discontinued Operation, Consideration | €		€ 95
Current assets	$ 13,165
Noncurrent assets	23,615
Total assets	36,780
Current liabilities	3,962
Noncurrent liabilities	49
Total liabilities	$ 4,011
Disposal Group, Including Discontinued Operation, Segment that Includes Disposal Group	Industrial Technology

Earnings Per Share (Details)

Earnings Per Share (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Schedule Of Weighted Average Number Of Shares Outstanding Basic To Diluted [Abstract]
Basic shares outstanding (in shares)	100,681,000	100,068,000	100,545,000	99,837,000
Effect of potential common stock [Abstract]
Common stock awards (in shares)	847,000	788,000	868,000	815,000
Senior subordinated convertible notes (in shares)	79,000	150,000	99,000	151,000
Diluted shares outstanding (in shares)	101,607,000	101,006,000	101,512,000	100,803,000
Antidilutive stock options (in shares)	665,720	670,000	665,720	781,000

Stock Based Compensation (Detai

Stock Based Compensation (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Stock Based Compensation [Abstract]
Percentage of eligible earnings to purchase common stock through the employee stock purchase plan (in hundredths)	10.00%		10.00%
Discount on the average closing price for the employee stock purchase plan (in hundredths)			5.00%
Stock Based Compensation Expense [Abstract]
Stock based compensation	$ 17,597	$ 16,998	$ 47,035	$ 47,011
Tax effect recognized in net income	6,159	5,949	16,462	16,454
Windfall tax benefit/(shortfall), net	$ 2,132	$ 3,126	$ 10,887	$ 14,727
Employee stock options granted during the period (in shares)			585,155	614,500
Fair value per share (in dollars per share)			$ 33.69	$ 35.02
Weighted average assumptions used to value option grants [Abstract]
Risk-free interest rate (%) (in hundredths)			1.52%	1.63%
Expected option life (years)			5 years 1 month 5 days	5 years 2 months 23 days
Expected volatility (%) (in hundredths)			22.23%	27.27%
Expected dividend yield (%) (in hundredths)			0.62%	0.59%
Cash received from exercise of options			$ 21,300	$ 29,500
Restricted stock awards granted during period (in shares)			349,035	341,810
Weighted average fair value per share of restricted stock awards granted during the period (in dollars per share)			$ 152.80	$ 140.91
Restricted stock awards vested during period (in shares)			61,889
Weighted average grant date fair value per share (in dollars per share)			$ 129.11
Weighted average vest date fair value per share (in dollars per share)			$ 166.95
Shares of stock purchased during the period by participants in the employee stock purchase plan (in shares)			13,437	15,695
Amount paid for stock purchased during the period by participants in the employee stock purchase plan			$ 2,120	$ 2,080

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Inventories [Abstract]
Raw materials and supplies	$ 124,013	$ 124,103
Work in process	24,536	29,358
Finished products	85,883	79,184
Inventory reserves	(33,612)	(38,879)
Total Inventory	$ 200,820	$ 193,766

Goodwill and Other Intangible36

Goodwill and Other Intangible Assets (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Goodwill [Line Items]
Balances	$ 4,710,691
Goodwill acquired	682,528
Goodwill associated with assets held for sale	(20,524)
Goodwill, Other Changes	624
Currency translation adjustments	(47,475)
Balances	5,325,844
Schedule Of Other Intangible Assets By Major Class [Line Items]
Cost	2,987,981		$ 2,738,747
Accumulated amortization	(741,271)		(760,018)
Net book value	2,246,710		1,978,729
Amortization expense of other intangible assets	118,119	$ 114,317
Assets subject to amortization [Member] | Customer related intangibles [Member]
Schedule Of Other Intangible Assets By Major Class [Line Items]
Cost	2,198,067		1,975,334
Accumulated amortization	(571,546)		(543,594)
Net book value	1,626,521		1,431,740
Assets subject to amortization [Member] | Unpatented technology [Member]
Schedule Of Other Intangible Assets By Major Class [Line Items]
Cost	214,520		217,260
Accumulated amortization	(110,363)		(134,702)
Net book value	104,157		82,558
Assets subject to amortization [Member] | Software [Member]
Schedule Of Other Intangible Assets By Major Class [Line Items]
Cost	161,218		156,449
Accumulated amortization	(40,186)		(62,882)
Net book value	121,032		93,567
Assets subject to amortization [Member] | Patents and other protective rights [Member]
Schedule Of Other Intangible Assets By Major Class [Line Items]
Cost	24,530		26,463
Accumulated amortization	(18,365)		(18,325)
Net book value	6,165		8,138
Assets subject to amortization [Member] | Order or Production Backlog [Member]
Schedule Of Other Intangible Assets By Major Class [Line Items]
Cost	700		1,100
Accumulated amortization	(700)		(443)
Net book value	0		657
Assets subject to amortization [Member] | Trade names [Member]
Schedule Of Other Intangible Assets By Major Class [Line Items]
Cost	607		622
Accumulated amortization	(111)		(72)
Net book value	496		550
Assets not subject to amortization [Member] | Trade names [Member]
Schedule Of Other Intangible Assets By Major Class [Line Items]
Cost	388,339		361,519
Accumulated amortization	0		0
Net book value	388,339		$ 361,519
Industrial Technology [Member]
Goodwill [Line Items]
Balances	408,964
Goodwill acquired	0
Goodwill associated with assets held for sale	(20,524)
Goodwill, Other Changes	0
Currency translation adjustments	(11,489)
Balances	376,951
Energy Systems And Controls [Member]
Goodwill [Line Items]
Balances	426,583
Goodwill acquired	0
Goodwill associated with assets held for sale	0
Goodwill, Other Changes	0
Currency translation adjustments	(6,229)
Balances	420,354
Medical And Scientific Imaging [Member]
Goodwill [Line Items]
Balances	2,594,356
Goodwill acquired	447,073
Goodwill associated with assets held for sale	0
Goodwill, Other Changes	791
Currency translation adjustments	(24,684)
Balances	3,017,536
RF Technology [Member]
Goodwill [Line Items]
Balances	1,280,788
Goodwill acquired	235,455
Goodwill associated with assets held for sale	0
Goodwill, Other Changes	(167)
Currency translation adjustments	(5,073)
Balances	$ 1,511,003

Debt (Details)

Debt (Details) - Senior Subordinated Convertible Notes [Member] $ / shares in Units, $ in Millions	9 Months Ended
	Sep. 30, 2015USD ($)sharesNotesConverted$ / shares
Debt Instrument [Line Items]
Stated Interest Rate Percentage - Debt Instruments (in hundredths)	3.75%
Maturity year of Senior subordinated convertible notes	2,034
First Conversion Date	Jan. 15, 2009
Number of Notes Converted | NotesConverted	8,066
Cash Payments for Debt Conversions (in millions)	$ 17.1
Deferred Tax Liability (in millions)	$ 0.9
Per Note Conversion Price (in dollars per share) | $ / shares	$ 506.85
Principal note amount (in millions)	$ 4
Excess above Principal Note Amount (in millions)	$ 12
If converted, issuance of common stock shares (in shares) | shares	76,838

Fair Value of Financial Instr38

Fair Value of Financial Instruments (Details) $ in Millions	9 Months Ended
	Sep. 30, 2015USD ($)
Convertible Notes [Member]
Short-term Debt [Line Items]
Fair Value of Debt Instrument	$ 4
Fair Value, Inputs, Level 2 [Member]
Debt Instrument [Line Items]
Face Value of Debt Instrument	2,200
Fair Value, Inputs, Level 2 [Member] | Senior notes due 2017 [Member]
Debt Instrument [Line Items]
Face Value of Debt Instrument	400
Long-term Debt, Fair Value	$ 400
Notes due	2,017
Fair Value, Inputs, Level 2 [Member] | Senior notes due 2018 [Member]
Debt Instrument [Line Items]
Face Value of Debt Instrument	$ 800
Long-term Debt, Fair Value	$ 798
Notes due	2,018
Fair Value, Inputs, Level 2 [Member] | Senior notes due 2019 [Member]
Debt Instrument [Line Items]
Face Value of Debt Instrument	$ 500
Long-term Debt, Fair Value	$ 563
Notes due	2,019
Fair Value, Inputs, Level 2 [Member] | Senior notes due 2022 [Member]
Debt Instrument [Line Items]
Face Value of Debt Instrument	$ 500
Long-term Debt, Fair Value	$ 496
Notes due	2,022

Contingencies (Details)

Contingencies (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2015USD ($)
Warranty Accrual Activity [Roll Forward]
Balance	$ 9,537
Additions charged to costs and expenses	9,570
Deductions	(9,512)
Other	(487)
Balance	$ 9,108

Business Segments (Details)

Business Segments (Details) - USD ($)		3 Months Ended				9 Months Ended
		Sep. 30, 2015		Sep. 30, 2014		Sep. 30, 2015	Sep. 30, 2014
Segment Reporting Information [Line Items]
Net sales		$ 883,933,000		$ 884,122,000		$ 2,638,755,000	$ 2,603,349,000
Percent change in Net Sales (in hundredths)		0.00%				1.40%
Gross Profit		$ 533,483,000		524,040,000		$ 1,585,555,000	1,536,158,000
Percent change in Gross Profit (in hundredths)		1.80%				3.20%
Operating profit		$ 277,601,000	[1]	271,657,000	[1]	$ 826,767,000	787,946,000
Percent change in Operating Profit (in hundredths)		2.20%	[1]			4.90%
Long-Lived assets		$ 119,473,000		138,408,000		$ 119,473,000	138,408,000
Percent change in Long-lived assets (in hundredths)						(13.70%)
Unallocated corporate general and administrative expenses	[1]	27,230		25,999		$ 77,526	72,222
Industrial Technology [Member]
Segment Reporting Information [Line Items]
Net sales		$ 186,147,000		205,688,000		$ 563,342,000	607,503,000
Percent change in Net Sales (in hundredths)		(9.50%)				(7.30%)
Gross Profit		$ 92,245,000		104,012,000		$ 281,052,000	306,464,000
Percent change in Gross Profit (in hundredths)		(11.30%)				(8.30%)
Operating profit		$ 52,298,000	[1]	62,046,000	[1]	$ 162,383,000	178,540,000
Percent change in Operating Profit (in hundredths)		(15.70%)	[1]			(9.00%)
Long-Lived assets		$ 40,170,000		47,147,000		$ 40,170,000	47,147,000
Percent change in Long-lived assets (in hundredths)						(14.80%)
Energy Systems And Controls [Member]
Segment Reporting Information [Line Items]
Net sales		$ 144,609,000		170,765,000		$ 429,762,000	491,804,000
Percent change in Net Sales (in hundredths)		(15.30%)				(12.60%)
Gross Profit		$ 84,891,000		99,233,000		$ 245,658,000	281,055,000
Percent change in Gross Profit (in hundredths)		(14.50%)				(12.60%)
Operating profit		$ 42,300,000	[1]	49,033,000	[1]	$ 110,424,000	130,844,000
Percent change in Operating Profit (in hundredths)		(13.70%)	[1]			(15.60%)
Long-Lived assets		$ 13,915,000		17,537,000		$ 13,915,000	17,537,000
Percent change in Long-lived assets (in hundredths)						(20.70%)
Medical And Scientific Imaging [Member]
Segment Reporting Information [Line Items]
Net sales		$ 299,621,000		268,809,000		$ 893,583,000	793,899,000
Percent change in Net Sales (in hundredths)		11.50%				12.60%
Gross Profit		$ 222,655,000		193,132,000		$ 660,971,000	572,738,000
Percent change in Gross Profit (in hundredths)		15.30%				15.40%
Operating profit		$ 108,399,000	[1]	91,227,000	[1]	$ 325,439,000	275,379,000
Percent change in Operating Profit (in hundredths)		18.80%	[1]			18.20%
Long-Lived assets		$ 35,818,000		44,513,000		$ 35,818,000	44,513,000
Percent change in Long-lived assets (in hundredths)						(19.50%)
RF Technology [Member]
Segment Reporting Information [Line Items]
Net sales		$ 253,556,000		238,860,000		$ 752,068,000	710,143,000
Percent change in Net Sales (in hundredths)		6.20%				5.90%
Gross Profit		$ 133,692,000		127,663,000		$ 397,874,000	375,901,000
Percent change in Gross Profit (in hundredths)		4.70%				5.80%
Operating profit		$ 74,604,000	[1]	69,351,000	[1]	$ 228,521,000	203,183,000
Percent change in Operating Profit (in hundredths)		7.60%	[1]			12.50%
Long-Lived assets		$ 29,570,000		$ 29,211,000		$ 29,570,000	$ 29,211,000
Percent change in Long-lived assets (in hundredths)						1.20%
[1]	Segment operating profit is before unallocated corporate general and administrative expenses. These expenses were $27,230 and $25,999 for the three months ended September 30, 2015 and 2014, respectively, and $77,526 and $72,222 for the nine months ended September 30, 2015 and 2014, respectively.