Roper (ROP) 10-Q 6 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	3 Months Ended
	Mar. 31, 2016	Apr. 29, 2016	Jun. 30, 2015
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 Public Float			$ 16,931,595,935
Entity Common Stock, Shares Outstanding		101,200,868
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2016

Condensed Consolidated Statemen

Condensed Consolidated Statements of Earnings (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Condensed Consolidated Statements of Earnings (unaudited) [Abstract]
Net sales	$ 902,423	$ 865,281
Cost of sales	342,904	347,120
Gross profit	559,519	518,161
Selling, general and administrative expenses	314,528	271,265
Income from operations	244,991	246,896
Interest expense, net	27,413	19,836
Other income/(expense), net	(129)	(679)
Earnings before income taxes	217,449	226,381
Income taxes	66,033	70,608
Net earnings	$ 151,416	$ 155,773
Earnings per share:
Basic (in dollars per share)	$ 1.50	$ 1.55
Diluted (in dollars per share)	$ 1.48	$ 1.54
Weighted average common shares outstanding:
Basic (in shares)	101,071	100,377
Diluted (in shares)	102,318	101,361
Dividends declared per common share (in dollars per share)	$ 0.30	$ 0.25

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Comprehensive Income (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Condensed Consolidated Statements of Comprehensive Income (unaudited) [Abstract]
Net earnings	$ 151,416	$ 155,773
Other comprehensive income/(loss), net of tax:
Foreign currency translation adjustments	1,743	(92,010)
Post retirement benefit plan adjustment	0	(1,063)
Total other comprehensive income/(loss), net of tax	1,743	(93,073)
Comprehensive income	$ 153,159	$ 62,700

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (unaudited) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Assets
Cash and cash equivalents	$ 523,033	$ 778,511
Accounts receivable, net	514,616	488,271
Inventories, net	196,321	189,868
Unbilled receivables	120,746	122,042
Prepaid Taxes	31,124	0
Other current assets	46,492	39,355
Total current assets	1,432,332	1,618,047
Property, plant and equipment, net	106,212	105,510
Goodwill	5,975,803	5,824,726
Other intangible assets, net	2,622,157	2,528,996
Deferred taxes	31,254	31,532
Other assets	56,650	59,554
Total assets	10,224,408	10,168,365
Liabilities and Stockholders' Equity
Accounts payable	140,421	139,737
Accrued compensation	91,288	119,511
Deferred revenue	275,230	267,030
Other accrued liabilities	185,305	168,513
Income taxes payable	80,879	18,532
Current portion of long-term debt, net	6,365	6,805
Total current liabilities	779,488	720,128
Long-term debt, net of current portion	3,105,340	3,264,417
Deferred taxes	826,425	810,856
Other liabilities	71,920	74,017
Total liabilities	$ 4,783,173	$ 4,869,418
Commitments and contingencies (Note 9)
Common stock	$ 1,031	$ 1,028
Additional paid-in capital	1,438,695	1,419,262
Retained earnings	4,231,589	4,110,530
Accumulated other comprehensive earnings	(211,036)	(212,779)
Treasury stock	(19,044)	(19,094)
Total stockholders' equity	5,441,235	5,298,947
Total liabilities and stockholders' equity	$ 10,224,408	$ 10,168,365

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash flows from operating activities:
Net earnings	$ 151,416	$ 155,773
Adjustments to reconcile net earnings to cash flows from operating activities:
Depreciation and amortization of property, plant and equipment	9,702	9,880
Amortization of intangible assets	49,549	38,428
Amortization of deferred financing costs	1,359	1,001
Non-cash stock compensation	18,979	13,801
Changes in operating assets and liabilities, net of acquired businesses:
Accounts receivable	(16,355)	20,304
Unbilled receivables	2,296	(11,042)
Inventories	(3,907)	(7,680)
Accounts payable and accrued liabilities	(19,731)	8,705
Income taxes payable	20,127	38,837
Other, net	(6,363)	(7,608)
Cash provided by operating activities	207,072	260,399
Cash flows from investing activities:
Acquisitions of businesses, net of cash acquired	(265,248)	(589,577)
Capital expenditures	(9,489)	(9,950)
Proceeds from sale of assets	673	140
Other, net	108	(3,736)
Cash used in investing activities	(273,956)	(603,123)
Cash flows from financing activities:
Proceeds from (Repayments of) revolving line of credit, net	(160,000)	415,000
Principal payments on senior notes	0	0
Principal payments on convertible notes	(289)	(3,454)
Cash premiums paid on convertible note conversions	(915)	(11,236)
Debt issuance costs	(63)	0
Cash dividends to stockholders	(30,173)	(25,024)
Proceeds from stock based compensation, net	690	6,267
Stock award tax excess windfall benefit	0	4,093
Treasury stock sales	879	787
Other	(311)	(289)
Cash provided by/(used in) financing activities	(190,182)	386,144
Effect of foreign currency exchange rate changes on cash	1,588	(38,357)
Net increase/(decrease) in cash and cash equivalents	(255,478)	5,063
Cash and cash equivalents, beginning of period	778,511	610,430
Cash and cash equivalents, end of period	$ 523,033	$ 615,493

Condensed Consolidated Stateme6

Condensed Consolidated Statement of Changes in Stockholders' Equity (unaudited) - 3 months ended Mar. 31, 2016 - 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, 2015	$ 1,028	$ 1,419,262	$ 4,110,530	$ (212,779)	$ (19,094)	$ 5,298,947
Net earnings	0	0	151,416	0	0	151,416
Stock option exercises	0	1,947	0	0	0	1,947
Treasury stock sold	0	829	0	0	50	879
Currency translation adjustments, net of tax	0	0	0	1,743	0	1,743
Stock based compensation	0	18,757	0	0	0	18,757
Restricted stock activity	3	$ (1,261)	0	0	0	(1,258)
Stock option tax benefit, net of shortfalls	0		0	0	0	0
Conversion of senior subordinated convertible notes, net of tax	0	$ (839)	0	0	0	(839)
Dividends declared	0	0	(30,357)	0	0	(30,357)
Post retirement benefit plan adjustments	0	0	0	0	0	0
Ending Balance at Mar. 31, 2016	$ 1,031	$ 1,438,695	$ 4,231,589	$ (211,036)	$ (19,044)	$ 5,441,235

Condensed Consolidated Stateme7

Condensed Consolidated Statement of Changes in Stockholders' Equity (unaudited) (Parenthetical) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)
Condensed Consolidated Statement of Changes in Stockholders' Equity (unaudited) [Abstract]
Currency translation adjustments, tax	$ 3,486
Conversion of senior subordinated convertible notes, tax	$ 76

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2016
Basis of Presentation [Abstract]
Basis of Presentation	1. Basis of Presentation The accompanying condensed consolidated financial statements for the three months ended March 31, 2016 and 2015 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, 2015 financial position data included herein was derived from the audited consolidated financial statements included in the 2015 Annual Report on Form 10-K ("Annual Report") filed on February 26, 2016 with the Securities and Exchange Commission ("SEC") but does not include all disclosures required by U.S. generally accepted accounting principles ("GAAP"). In the three month period ended March 31, 2016, Roper early adopted the provisions of an accounting standards update ("ASU") which affected the accounting for share-based payment awards. The provisions changed the reporting of excess tax benefits and tax deficiencies so that they are now reported in the income statement instead of additional paid-in capital, and the related cash flows are classified as operating activities as compared to the previous classification of financing activities. See Note 2 for additional information regarding the ASU. 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 months ended March 31, 2016 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	3 Months Ended
	Mar. 31, 2016
Recent Accounting Pronouncements (Details) [Abstract]
New Accounting Pronouncements and Changes in Accounting Principles [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 to the FASB's Accounting Standards Codification. The Company considers the applicability and impact of all ASUs. Any ASUs not listed below were assessed and determined to be either not applicable or are expected to have an immaterial impact on the Company's results of operations, financial position or cash flows. In Mar · The Company recorded a tax benefit of $1.3 million within income tax expense for the three months ended March 31, 2016 related to the excess tax benefit on share-based awards. Prior to adoption this amount would have been recorded as a reduction of additional paid-in capital. · The Company no longer reclassifies the excess tax benefit from operating activities to financing activities in the statement of cash flows. The Company elected to apply this change in presentation prospectively and thus prior periods have not been adjusted. · The Company elected not to change its policy on accounting for forfeitures and continued to estimate the total number of awards for which the requisite service period will not be rendered. · The Company excluded the excess tax benefits from the assumed proceeds available to repurchase shares in the computation of our diluted earnings per share for the quarter ended March 31, 2016. This increased diluted weighted average common shares outstanding by 318 thousand shares. In March 2016, the FASB issued an update amending the equity method of 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 adopted the update effective January 1, 2016. The update did not 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 determine whether the fee paid by an entity for 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 adopted the update prospectively effective January 1, 2016. The update did not have a material impact on its results of operations, financial condition or cash flows. In June 2014, the FASB issued an update to the accounting for stock compensation. This update, effective for fiscal years beginning after December 15, 2015, modifies 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 adopted the update prospectively effective January 1, 2016. The update did not have a material impact on its results of operations, financial condition or cash flows.
Description of New Accounting Pronouncements Not yet Adopted [Text Block]	In February 2016, the FASB issued an update on lease accounting. The update, effective for annual reporting periods after December 15, 2018, including interim periods within those annual periods, provides amendments to current lease accounting. These amendments include the recognition of lease assets and lease liabilities on the balance sheet and disclosing other key information about leasing arrangements. 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 update to have a material 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.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2016
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. Effective January 1, 2016, Roper adopted an ASU (see Note 2) on a prospective basis which increased the number of potentially dilutive stock options as there is no longer a tax benefit in the calculation of dilutive stock options. 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 March 31, 2016 2015 Basic shares outstanding 101,071 100,377 Effect of potential common stock: Common stock awards 1,172 852 Senior subordinated convertible notes 75 132 Diluted shares outstanding 102,318 101,361 For the three months ended March 31, 2016 there were 988,475 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 697,555 outstanding stock options that would have been antidilutive for the three months ended March 31, 2015.

Business Acquisitions

Business Acquisitions	3 Months Ended
	Mar. 31, 2016
Business Acquisitions [Abstract]
Business Acquisitions [Text Block]	4. Business Acquisitions Roper completed two business acquisitions in the first quarter of 2016, with an aggregate purchase price of $264 million using cash on hand. 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. On January 7, 2016, Roper acquired 100% of the shares of CliniSys Group, Ltd. ("CliniSys"), a provider of clinical laboratory software headquartered in the United Kingdom. On March 17, 2016, Roper acquired the assets of PCI Medical, LLC, a provider of medical probe and scope disinfection products. Both acquisitions are reported in the Medical & Scientific Imaging segment and were acquired to enhance existing platforms and product lines. The Company recorded $145 million in goodwill and $141 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 $141 million intangible assets acquired, $10 million was assigned to trade names that are not subject to amortization. The remaining $131 million of acquired intangible assets have a weighted average useful life of 17 years. The amortizable intangible assets include customer relationships of $95 million (20 year weighted average useful life) and unpatented technology of $36 million (8 year weighted average useful life).

Stock Based Compensation

Stock Based Compensation	3 Months Ended
	Mar. 31, 2016
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 March 31, 2016 2015 Stock based compensation $ 18,979 $ 13,801 Tax effect recognized in net income 6,643 4,830 Windfall tax benefit, net - 4,107 Windfall tax benefits are no longer calculated due to the adoption of the ASU related to stock compensation (see Note 2), as all tax benefits are recognized in net income. 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: Three Months Ended March 31, 2016 2015 Risk-free interest rate (%) 1.41 1.51 Expected option life (years) 5.20 5.10 Expected volatility (%) 21.63 22.28 Expected dividend yield (%) 0.70 0.63 Cash received from option exercises for the three months ended March 31, 2016 and 2015 was $1.9 million and $7.4 million, respectively. Restricted Stock Awards - During the three months ended March 31, 2016, 32,702 restricted awards vested with a weighted average grant date fair value of $125.86 per restricted share, and a weighted average vest date fair value of $171.60 per restricted share. Employee Stock Purchase Plan

Inventories

Inventories	3 Months Ended
	Mar. 31, 2016
Inventories [Abstract]
Inventories	6. Inventories The components of inventory were as follows (in thousands): March 31, 2016 December 31, 2015 Raw materials and supplies $ 123,527 $ 120,811 Work in process 24,699 22,979 Finished products 84,932 80,118 Inventory reserves (36,837 ) (34,040 ) $ 196,321 $ 189,868

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	3 Months Ended
	Mar. 31, 2016
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, 2015 $ 3,039,197 $ 1,993,299 $ 374,033 $ 418,197 $ 5,824,726 Goodwill acquired 145,411 - - - 145,411 Other (375 ) 1,467 - - 1,092 Currency translation adjustments 6,839 (2,735 ) 589 (119 ) 4,574 Balances at March 31, 2016 $ 3,191,072 $ 1,992,031 $ 374,622 $ 418,078 $ 5,975,803 Other relates to tax purchase accounting adjustments for 2015 acquisitions. Other intangible assets were comprised of (in thousands): Cost Accumulated amortization Net book value Assets subject to amortization: Customer related intangibles $ 2,448,509 $ (602,615 ) $ 1,845,894 Unpatented technology 270,170 (117,405 ) 152,765 Software 161,201 (44,298 ) 116,903 Patents and other protective rights 24,160 (18,659 ) 5,501 Backlog 700 (700 ) - Trade names 595 (122 ) 473 Assets not subject to amortization: Trade names 407,460 - 407,460 Balances at December 31, 2015 $ 3,312,795 $ (783,799 ) $ 2,528,996 Assets subject to amortization: Customer related intangibles $ 2,545,037 $ (636,565 ) $ 1,908,472 Unpatented technology 307,543 (129,788 ) 177,755 Software 154,366 (41,742 ) 112,624 Patents and other protective rights 24,190 (19,189 ) 5,001 Backlog 700 (700 ) - Trade names 570 (130 ) 440 Assets not subject to amortization: Trade names 417,865 - 417,865 Balances at March 31, 2016 $ 3,450,271 $ (828,114 ) $ 2,622,157 Amortization expense of other intangible assets was $49,048 and $37,859 during the three months ended March 31, 2016 and 2015, 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 2016. The Company expects to perform the annual analysis during the fourth quarter.

Debt

Debt	3 Months Ended
	Mar. 31, 2016
Debt [Abstract]
Debt	8. Debt Roper's 3.75% senior subordinated convertible notes due 2034 became convertible on January 15, 2009. During the three months ended March 31, 2016, 564 notes were converted by note holders for $1.2 million in cash. No gain or loss was recorded upon these conversions. In addition, a related $0.1 million deferred tax liability associated with excess deductions recorded for tax purposes was relieved to additional paid-in capital upon the conversions. At March 31, 2016, the conversion price on the remaining outstanding notes was $516.38 per note. If converted at March 31, 2016, the value would have exceeded the $4 million principal amount of the outstanding notes by $14 million and could have resulted in the issuance of 74,973 shares of Roper's common stock.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2016
Fair Value of Financial Instruments [Abstract]
Fair Value of Financial Instruments	9. Fair Value of Financial Instruments Roper's debt at March 31, 2016 included $3.1 billion of fixed-rate senior notes with the following fair values (in millions): $400 million senior notes due 2017 $ 401 $800 million senior notes due 2018 816 $500 million senior notes due 2019 558 $600 million senior notes due 2020 614 $500 million senior notes due 2022 503 $300 million senior notes due 2025 312 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 March 31, 2016 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	3 Months Ended
	Mar. 31, 2016
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 three months ended March 31, 2016 is presented below (in thousands): Balance at December 31, 2015 $ 10,183 Additions charged to costs and expenses 4,711 Deductions (4,106 ) Other 52 Balances at March 31, 2016 $ 10,840

Business Segments

Business Segments	3 Months Ended
	Mar. 31, 2016
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 March 31, 2016 2015 Change Net sales: Medical & Scientific Imaging $ 332,214 $ 291,700 13.9 % RF Technology 280,210 242,954 15.3 % Industrial Technology 171,235 190,728 (10.2 )% Energy Systems & Controls 118,764 139,899 (15.1 )% Total $ 902,423 $ 865,281 4.3 % Gross profit: Medical & Scientific Imaging $ 246,897 $ 215,326 14.7 % RF Technology 160,365 130,046 23.3 % Industrial Technology 86,020 95,242 (9.7 )% Energy Systems & Controls 66,237 77,547 (14.6 )% Total $ 559,519 $ 518,161 8.0 % Operating profit*: Medical & Scientific Imaging $ 114,456 $ 107,779 6.2 % RF Technology 88,766 73,977 20.0 % Industrial Technology 46,759 57,897 (19.2 )% Energy Systems & Controls 24,182 30,422 (20.5 )% Total $ 274,163 $ 270,075 1.5 % Long-lived assets: Medical & Scientific Imaging $ 40,621 $ 36,347 11.8 % RF Technology 30,828 29,585 4.2 % Industrial Technology 36,802 44,697 (17.7 )% Energy Systems & Controls 12,071 15,177 (20.5 )% Total $ 120,322 $ 125,806 (4.4 )% * Segment operating profit is before unallocated corporate general and administrative expenses of $29,172 and $23,179 for the three months ended March 31, 2016 and 2015, respectively.

Recent Accounting Pronounceme19

Recent Accounting Pronouncements (Policies)	3 Months Ended
	Mar. 31, 2016
Recent Accounting Pronouncements (Details) [Abstract]
New Accounting Pronouncements, Policy [Policy 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 to the FASB's Accounting Standards Codification. The Company considers the applicability and impact of all ASUs. Any ASUs not listed below were assessed and determined to be either not applicable or are expected to have an immaterial impact on the Company's results of operations, financial position or cash flows. In Mar · The Company recorded a tax benefit of $1.3 million within income tax expense for the three months ended March 31, 2016 related to the excess tax benefit on share-based awards. Prior to adoption this amount would have been recorded as a reduction of additional paid-in capital. · The Company no longer reclassifies the excess tax benefit from operating activities to financing activities in the statement of cash flows. The Company elected to apply this change in presentation prospectively and thus prior periods have not been adjusted. · The Company elected not to change its policy on accounting for forfeitures and continued to estimate the total number of awards for which the requisite service period will not be rendered. · The Company excluded the excess tax benefits from the assumed proceeds available to repurchase shares in the computation of our diluted earnings per share for the quarter ended March 31, 2016. This increased diluted weighted average common shares outstanding by 318 thousand shares. In March 2016, the FASB issued an update amending the equity method of 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 adopted the update effective January 1, 2016. The update did not 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 determine whether the fee paid by an entity for 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 adopted the update prospectively effective January 1, 2016. The update did not have a material impact on its results of operations, financial condition or cash flows. In June 2014, the FASB issued an update to the accounting for stock compensation. This update, effective for fiscal years beginning after December 15, 2015, modifies 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 adopted the update prospectively effective January 1, 2016. The update did not have a material impact on its results of operations, financial condition or cash flows. In February 2016, the FASB issued an update on lease accounting. The update, effective for annual reporting periods after December 15, 2018, including interim periods within those annual periods, provides amendments to current lease accounting. These amendments include the recognition of lease assets and lease liabilities on the balance sheet and disclosing other key information about leasing arrangements. 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 update to have a material 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.

Earnings Per Share (Policies)

Earnings Per Share (Policies)	3 Months Ended
	Mar. 31, 2016
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. Effective January 1, 2016, Roper adopted an ASU (see Note 2) on a prospective basis which increased the number of potentially dilutive stock options as there is no longer a tax benefit in the calculation of dilutive stock options. 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)	3 Months Ended
	Mar. 31, 2016
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:

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Schedule Of Weighted Average Number Of Shares Outstanding Basic To Diluted	Three months ended March 31, 2016 2015 Basic shares outstanding 101,071 100,377 Effect of potential common stock: Common stock awards 1,172 852 Senior subordinated convertible notes 75 132 Diluted shares outstanding 102,318 101,361

Stock Based Compensation (Table

Stock Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2016
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 March 31, 2016 2015 Stock based compensation $ 18,979 $ 13,801 Tax effect recognized in net income 6,643 4,830 Windfall tax benefit, net - 4,107 Windfall tax benefits are no longer calculated due to the adoption of the ASU related to stock compensation (see Note 2), as all tax benefits are recognized in net income.
Weighted average assumptions used to value option grants	Three Months Ended March 31, 2016 2015 Risk-free interest rate (%) 1.41 1.51 Expected option life (years) 5.20 5.10 Expected volatility (%) 21.63 22.28 Expected dividend yield (%) 0.70 0.63

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2016
Inventories [Abstract]
Inventories	The components of inventory were as follows (in thousands): March 31, 2016 December 31, 2015 Raw materials and supplies $ 123,527 $ 120,811 Work in process 24,699 22,979 Finished products 84,932 80,118 Inventory reserves (36,837 ) (34,040 ) $ 196,321 $ 189,868

Goodwill and Other Intangible25

Goodwill and Other Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2016
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, 2015 $ 3,039,197 $ 1,993,299 $ 374,033 $ 418,197 $ 5,824,726 Goodwill acquired 145,411 - - - 145,411 Other (375 ) 1,467 - - 1,092 Currency translation adjustments 6,839 (2,735 ) 589 (119 ) 4,574 Balances at March 31, 2016 $ 3,191,072 $ 1,992,031 $ 374,622 $ 418,078 $ 5,975,803
Other Intangible Assets	Other intangible assets were comprised of (in thousands): Cost Accumulated amortization Net book value Assets subject to amortization: Customer related intangibles $ 2,448,509 $ (602,615 ) $ 1,845,894 Unpatented technology 270,170 (117,405 ) 152,765 Software 161,201 (44,298 ) 116,903 Patents and other protective rights 24,160 (18,659 ) 5,501 Backlog 700 (700 ) - Trade names 595 (122 ) 473 Assets not subject to amortization: Trade names 407,460 - 407,460 Balances at December 31, 2015 $ 3,312,795 $ (783,799 ) $ 2,528,996 Assets subject to amortization: Customer related intangibles $ 2,545,037 $ (636,565 ) $ 1,908,472 Unpatented technology 307,543 (129,788 ) 177,755 Software 154,366 (41,742 ) 112,624 Patents and other protective rights 24,190 (19,189 ) 5,001 Backlog 700 (700 ) - Trade names 570 (130 ) 440 Assets not subject to amortization: Trade names 417,865 - 417,865 Balances at March 31, 2016 $ 3,450,271 $ (828,114 ) $ 2,622,157

Fair Value of Financial Instr26

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2016
Fair Value of Financial Instruments [Abstract]
Fixed-Rate Senior Notes, Fair Value	Roper's debt at March 31, 2016 included $3.1 billion of fixed-rate senior notes with the following fair values (in millions): $400 million senior notes due 2017 $ 401 $800 million senior notes due 2018 816 $500 million senior notes due 2019 558 $600 million senior notes due 2020 614 $500 million senior notes due 2022 503 $300 million senior notes due 2025 312

Contingencies (Tables)

Contingencies (Tables)	3 Months Ended
	Mar. 31, 2016
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 three months ended March 31, 2016 is presented below (in thousands): Balance at December 31, 2015 $ 10,183 Additions charged to costs and expenses 4,711 Deductions (4,106 ) Other 52 Balances at March 31, 2016 $ 10,840

Business Segments (Tables)

Business Segments (Tables)	3 Months Ended
	Mar. 31, 2016
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 March 31, 2016 2015 Change Net sales: Medical & Scientific Imaging $ 332,214 $ 291,700 13.9 % RF Technology 280,210 242,954 15.3 % Industrial Technology 171,235 190,728 (10.2 )% Energy Systems & Controls 118,764 139,899 (15.1 )% Total $ 902,423 $ 865,281 4.3 % Gross profit: Medical & Scientific Imaging $ 246,897 $ 215,326 14.7 % RF Technology 160,365 130,046 23.3 % Industrial Technology 86,020 95,242 (9.7 )% Energy Systems & Controls 66,237 77,547 (14.6 )% Total $ 559,519 $ 518,161 8.0 % Operating profit*: Medical & Scientific Imaging $ 114,456 $ 107,779 6.2 % RF Technology 88,766 73,977 20.0 % Industrial Technology 46,759 57,897 (19.2 )% Energy Systems & Controls 24,182 30,422 (20.5 )% Total $ 274,163 $ 270,075 1.5 % Long-lived assets: Medical & Scientific Imaging $ 40,621 $ 36,347 11.8 % RF Technology 30,828 29,585 4.2 % Industrial Technology 36,802 44,697 (17.7 )% Energy Systems & Controls 12,071 15,177 (20.5 )% Total $ 120,322 $ 125,806 (4.4 )% * Segment operating profit is before unallocated corporate general and administrative expenses of $29,172 and $23,179 for the three months ended March 31, 2016 and 2015, respectively.

Recent Accounting Pronounceme29

Recent Accounting Pronouncements (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
New Accounting Pronouncement, Early Adoption [Line Items]
Tax Benefit	$ 66,033	$ 70,608
Adjustments for New Accounting Principle, Early Adoption [Member]
New Accounting Pronouncement, Early Adoption [Line Items]
Tax Benefit	$ 1,300
Increase in diluted weighted average common shares outstanding	318

Earnings Per Share (Details)

Earnings Per Share (Details) - shares	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Schedule Of Weighted Average Number Of Shares Outstanding Basic To Diluted [Abstract]
Basic shares outstanding (in shares)	101,071,000	100,377,000
Effect of potential common stock [Abstract]
Common stock awards (in shares)	1,172,000	852,000
Senior subordinated convertible notes (in shares)	75,000	132,000
Diluted shares outstanding (in shares)	102,318,000	101,361,000
Antidilutive stock options (in shares)	988,475	697,555

Business Acquisitions (Details)

Business Acquisitions (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)Business	Dec. 31, 2015USD ($)
Business Acquisition [Line Items]
Goodwill	$ 5,975,803	$ 5,824,726
Series of Individually Immaterial Business Acquisitions [Member]
Business Acquisition [Line Items]
Number of business acquired | Business	2
Cost of Acquired Entity Purchase Price	$ 264,000
Intangible Assets Other than Goodwill	141,000
Goodwill	$ 145,000
Cost of Acquired Entity Transaction Costs
Finite lived intangible assets	$ 131,000
Indefinite lived intangible assets	$ 10,000
Weighted average useful life	17 years
Series of Individually Immaterial Business Acquisitions [Member] | Customer Relationships [Member]
Business Acquisition [Line Items]
Finite lived intangible assets	$ 95,000
Weighted average useful life	20 years
Series of Individually Immaterial Business Acquisitions [Member] | Unpatented Technology [Member]
Business Acquisition [Line Items]
Finite lived intangible assets	$ 36,000
Weighted average useful life	8 years

Stock Based Compensation (Detai

Stock Based Compensation (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Stock Based Compensation [Abstract]
Percentage of eligible earnings to purchase common stock through the employee stock purchase plan (in hundredths)	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	$ 18,979	$ 13,801
Tax effect recognized in net income	6,643	4,830
Windfall tax benefit/(shortfall), net	$ 0	$ 4,107
Employee stock options granted during the period (in shares)	547,125	537,555
Fair value per share (in dollars per share)	$ 34.44	$ 33.76
Weighted average assumptions used to value option grants [Abstract]
Risk-free interest rate (%) (in hundredths)	1.41%	1.51%
Expected option life (years)	5 years 2 months 14 days	5 years 1 month 5 days
Expected volatility (%) (in hundredths)	21.63%	22.28%
Expected dividend yield (%) (in hundredths)	0.70%	0.63%
Cash received from exercise of options	$ 1,900	$ 7,400
Restricted stock awards granted during period (in shares)	315,000	304,175
Weighted average fair value per share of restricted stock awards granted during the period (in dollars per share)	$ 167.11	$ 149.66
Restricted stock awards vested during period (in shares)	32,702
Weighted average grant date fair value per share (in dollars per share)	$ 125.86
Weighted average vest date fair value per share (in dollars per share)	$ 171.60
Shares of stock purchased during the period by participants in the employee stock purchase plan (in shares)	5,007	5,042
Amount paid for stock purchased during the period by participants in the employee stock purchase plan	$ 880	$ 790

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Inventories [Abstract]
Raw materials and supplies	$ 123,527	$ 120,811
Work in process	24,699	22,979
Finished products	84,932	80,118
Inventory reserves	(36,837)	(34,040)
Total Inventory	$ 196,321	$ 189,868

Goodwill and Other Intangible34

Goodwill and Other Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Goodwill [Line Items]
Balances	$ 5,824,726
Goodwill acquired	145,411
Goodwill, Other Changes	1,092
Currency translation adjustments	4,574
Balances	5,975,803
Schedule Of Other Intangible Assets By Major Class [Line Items]
Cost	3,450,271		$ 3,312,795
Accumulated amortization	(828,114)		(783,799)
Net book value	2,622,157		2,528,996
Amortization expense of other intangible assets	49,048	$ 37,859
Assets subject to amortization [Member] | Customer related intangibles [Member]
Schedule Of Other Intangible Assets By Major Class [Line Items]
Cost	2,545,037		2,448,509
Accumulated amortization	(636,565)		(602,615)
Net book value	1,908,472		1,845,894
Assets subject to amortization [Member] | Unpatented technology [Member]
Schedule Of Other Intangible Assets By Major Class [Line Items]
Cost	307,543		270,170
Accumulated amortization	(129,788)		(117,405)
Net book value	177,755		152,765
Assets subject to amortization [Member] | Software [Member]
Schedule Of Other Intangible Assets By Major Class [Line Items]
Cost	154,366		161,201
Accumulated amortization	(41,742)		(44,298)
Net book value	112,624		116,903
Assets subject to amortization [Member] | Patents and other protective rights [Member]
Schedule Of Other Intangible Assets By Major Class [Line Items]
Cost	24,190		24,160
Accumulated amortization	(19,189)		(18,659)
Net book value	5,001		5,501
Assets subject to amortization [Member] | Order or Production Backlog [Member]
Schedule Of Other Intangible Assets By Major Class [Line Items]
Cost	700		700
Accumulated amortization	(700)		(700)
Net book value	0		0
Assets subject to amortization [Member] | Trade names [Member]
Schedule Of Other Intangible Assets By Major Class [Line Items]
Cost	570		595
Accumulated amortization	(130)		(122)
Net book value	440		473
Assets not subject to amortization [Member] | Trade names [Member]
Schedule Of Other Intangible Assets By Major Class [Line Items]
Cost	417,865		407,460
Accumulated amortization	0		0
Net book value	417,865		$ 407,460
Medical And Scientific Imaging [Member]
Goodwill [Line Items]
Balances	3,039,197
Goodwill acquired	145,411
Goodwill, Other Changes	(375)
Currency translation adjustments	6,839
Balances	3,191,072
RF Technology [Member]
Goodwill [Line Items]
Balances	1,993,299
Goodwill acquired	0
Goodwill, Other Changes	1,467
Currency translation adjustments	(2,735)
Balances	1,992,031
Industrial Technology [Member]
Goodwill [Line Items]
Balances	374,033
Goodwill acquired	0
Goodwill, Other Changes	0
Currency translation adjustments	589
Balances	374,622
Energy Systems And Controls [Member]
Goodwill [Line Items]
Balances	418,197
Goodwill acquired	0
Goodwill, Other Changes	0
Currency translation adjustments	(119)
Balances	$ 418,078

Debt (Details)

Debt (Details) - Senior Subordinated Convertible Notes [Member] $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)sharesNotesConverted$ / 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	564
Cash Payments for Debt Conversions (in millions)	$ 1.2
Deferred Tax Liability (in millions)	$ 0.1
Per Note Conversion Price (in dollars per share) | $ / shares	$ 516.38
Principal note amount (in millions)	$ 4
Excess above Principal Note Amount (in millions)	$ 14
If converted, issuance of common stock shares (in shares) | shares	74,973

Fair Value of Financial Instr36

Fair Value of Financial Instruments (Details) $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)
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	3,100
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	$ 401
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	$ 816
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	$ 558
Notes due	2,019
Fair Value, Inputs, Level 2 [Member] | Senior notes due 2020 [Member]
Debt Instrument [Line Items]
Face Value of Debt Instrument	$ 600
Long-term Debt, Fair Value	$ 614
Notes due	2,020
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	$ 503
Notes due	2,022
Fair Value, Inputs, Level 2 [Member] | Senior notes due 2025 [Member]
Debt Instrument [Line Items]
Face Value of Debt Instrument	$ 300
Long-term Debt, Fair Value	$ 312
Notes due	2,025

Contingencies (Details)

Contingencies (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)
Warranty Accrual Activity [Roll Forward]
Balance	$ 10,183
Additions charged to costs and expenses	4,711
Deductions	(4,106)
Other	52
Balance	$ 10,840

Business Segments (Details)

Business Segments (Details) - USD ($)		3 Months Ended
		Mar. 31, 2016	Mar. 31, 2015
Segment Reporting Information [Line Items]
Net sales		$ 902,423,000	$ 865,281,000
Percent change in Net Sales (in hundredths)		4.30%
Gross Profit		$ 559,519,000	518,161,000
Percent change in Gross Profit (in hundredths)		8.00%
Operating profit	[1]	$ 274,163,000	270,075,000
Percent change in Operating Profit (in hundredths)	[1]	1.50%
Long-Lived assets		$ 120,322,000	125,806,000
Percent change in Long-lived assets (in hundredths)		(4.40%)
Unallocated corporate general and administrative expenses	[1]	$ 29,172	23,179
Medical And Scientific Imaging [Member]
Segment Reporting Information [Line Items]
Net sales		$ 332,214,000	291,700,000
Percent change in Net Sales (in hundredths)		13.90%
Gross Profit		$ 246,897,000	215,326,000
Percent change in Gross Profit (in hundredths)		14.70%
Operating profit	[1]	$ 114,456,000	107,779,000
Percent change in Operating Profit (in hundredths)	[1]	6.20%
Long-Lived assets		$ 40,621,000	36,347,000
Percent change in Long-lived assets (in hundredths)		11.80%
RF Technology [Member]
Segment Reporting Information [Line Items]
Net sales		$ 280,210,000	242,954,000
Percent change in Net Sales (in hundredths)		15.30%
Gross Profit		$ 160,365,000	130,046,000
Percent change in Gross Profit (in hundredths)		23.30%
Operating profit	[1]	$ 88,766,000	73,977,000
Percent change in Operating Profit (in hundredths)	[1]	20.00%
Long-Lived assets		$ 30,828,000	29,585,000
Percent change in Long-lived assets (in hundredths)		4.20%
Industrial Technology [Member]
Segment Reporting Information [Line Items]
Net sales		$ 171,235,000	190,728,000
Percent change in Net Sales (in hundredths)		(10.20%)
Gross Profit		$ 86,020,000	95,242,000
Percent change in Gross Profit (in hundredths)		(9.70%)
Operating profit	[1]	$ 46,759,000	57,897,000
Percent change in Operating Profit (in hundredths)	[1]	(19.20%)
Long-Lived assets		$ 36,802,000	44,697,000
Percent change in Long-lived assets (in hundredths)		(17.70%)
Energy Systems And Controls [Member]
Segment Reporting Information [Line Items]
Net sales		$ 118,764,000	139,899,000
Percent change in Net Sales (in hundredths)		(15.10%)
Gross Profit		$ 66,237,000	77,547,000
Percent change in Gross Profit (in hundredths)		(14.60%)
Operating profit	[1]	$ 24,182,000	30,422,000
Percent change in Operating Profit (in hundredths)	[1]	(20.50%)
Long-Lived assets		$ 12,071,000	$ 15,177,000
Percent change in Long-lived assets (in hundredths)		(20.50%)
[1]	Segment operating profit is before unallocated corporate general and administrative expenses of $29,172 and $23,179 for the three months ended March 31, 2016 and 2015, respectively.