Roper (ROP) 10-Q 4 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	9 Months Ended
	Sep. 30, 2016	Oct. 28, 2016	Dec. 31, 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		101,434,201
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2016

Condensed Consolidated Statemen

Condensed Consolidated Statements of Earnings (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Condensed Consolidated Statements of Earnings (unaudited) [Abstract]
Net sales	$ 945,144	$ 883,933	$ 2,779,125	$ 2,638,755
Cost of sales	366,651	350,450	1,073,593	1,053,200
Gross profit	578,493	533,483	1,705,532	1,585,555
Selling, general and administrative expenses	311,103	283,112	940,073	836,314
Income from operations	267,390	250,371	765,459	749,241
Interest expense, net	26,800	20,369	81,076	60,382
Loss on extinguishment of debt	871	0	871	0
Other income/(expense), net	337	251	(1,126)	(1,948)
Earnings before income taxes	240,056	230,253	682,386	686,911
Income taxes	72,977	69,836	205,822	199,441
Net earnings	$ 167,079	$ 160,417	$ 476,564	$ 487,470
Earnings per share:
Basic (in dollars per share)	$ 1.65	$ 1.59	$ 4.71	$ 4.85
Diluted (in dollars per share)	$ 1.63	$ 1.58	$ 4.65	$ 4.80
Weighted average common shares outstanding:
Basic (in shares)	101,372	100,681	101,231	100,545
Diluted (in shares)	102,522	101,607	102,424	101,512
Dividends declared per common share (in dollars per share)	$ 0.30	$ 0.25	$ 0.90	$ 0.75

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Comprehensive Income (unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Condensed Consolidated Statements of Comprehensive Income (unaudited) [Abstract]
Net earnings	$ 167,079	$ 160,417	$ 476,564	$ 487,470
Other comprehensive income/(loss), net of tax:
Foreign currency translation adjustments	9,054	(49,684)	(35,673)	(104,482)
Post retirement benefit plan adjustment	0	0	0	(1,063)
Total other comprehensive income/(loss), net of tax	9,054	(49,684)	(35,673)	(105,545)
Comprehensive income	$ 176,133	$ 110,733	$ 440,891	$ 381,925

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (unaudited) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
ASSETS:
Cash and cash equivalents	$ 882,270	$ 778,511
Accounts receivable, net	498,006	488,271
Inventories, net	197,529	189,868
Unbilled receivables	119,109	122,042
Prepaid income taxes	31,933	0
Other current assets	45,964	39,355
Total current assets	1,774,811	1,618,047
Property, plant and equipment, net	103,847	105,510
Goodwill	5,969,328	5,824,726
Other intangible assets, net	2,541,482	2,528,996
Deferred taxes	30,663	31,532
Other assets	59,997	59,554
Total assets	10,480,128	10,168,365
LIABILITIES AND STOCKHOLDERS' EQUITY:
Accounts payable	144,235	139,737
Accrued compensation	106,906	119,511
Deferred revenue	290,231	267,030
Other accrued liabilities	200,463	168,513
Income taxes payable	28,003	18,532
Current portion of long-term debt, net	1,902	6,805
Total current liabilities	771,740	720,128
Long-term debt, net of current portion	3,087,151	3,264,417
Deferred taxes	821,349	810,856
Other liabilities	87,381	74,017
Total liabilities	4,767,621	4,869,418
Commitments and contingencies (Note 10)
Common stock	1,033	1,028
Additional paid-in capital	1,482,963	1,419,262
Retained earnings	4,495,907	4,110,530
Accumulated other comprehensive earnings	(248,452)	(212,779)
Treasury stock	(18,944)	(19,094)
Total stockholders' equity	5,712,507	5,298,947
Total liabilities and stockholders' equity	$ 10,480,128	$ 10,168,365

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cash flows from operating activities:
Net earnings	$ 476,564	$ 487,470
Adjustments to reconcile net earnings to cash flows from operating activities:
Depreciation and amortization of property, plant and equipment	27,954	28,454
Amortization of intangible assets	149,149	119,766
Amortization of deferred financing costs	4,080	3,002
Non-cash stock compensation	60,480	47,035
Changes in operating assets and liabilities, net of acquired businesses:
Accounts receivable	(1,660)	35,215
Unbilled receivables	3,684	(9,164)
Inventories	(5,916)	(7,047)
Accounts payable and accrued liabilities	36,965	(8,688)
Income taxes payable	(52,728)	(35,165)
Other, net	(5,199)	(1,311)
Cash provided by operating activities	693,373	659,567
Cash flows from investing activities:
Acquisitions of businesses, net of cash acquired	(277,587)	(1,024,779)
Capital expenditures	(26,933)	(27,503)
Proceeds from sale of assets	866	724
Other, net	36	(5,093)
Cash used in investing activities	(303,618)	(1,056,651)
Cash flows from financing activities:
Borrowings/(payments) under revolving line of credit, net	(180,000)	590,000
Principal payments on convertible notes	(4,010)	(4,006)
Cash premiums paid on convertible note conversions	(13,308)	(13,126)
Debt issuance costs	(6,763)	0
Cash dividends to stockholders	(90,632)	(75,210)
Proceeds from stock based compensation, net	13,895	19,237
Stock award tax excess windfall benefit	0	11,593
Treasury stock sales	2,576	2,117
Other	(1,053)	(1,273)
Cash provided by/(used in) financing activities	(279,295)	529,332
Effect of foreign currency exchange rate changes on cash	(6,701)	(42,100)
Net increase/(decrease) in cash and cash equivalents	103,759	90,148
Cash and cash equivalents, beginning of period	778,511	610,430
Cash and cash equivalents, end of period	$ 882,270	$ 700,578

Condensed Consolidated Stateme6

Condensed Consolidated Statement of Changes in Stockholders' Equity (unaudited) - 9 months ended Sep. 30, 2016 - USD ($) $ in Thousands	Common stock [Member]	Additional paid-in capital [Member]	Retained earnings [Member]	Accumulated other comprehensive earnings [Member]	Treasury stock [Member]	Total
Balances at at Dec. 31, 2015	$ 1,028	$ 1,419,262	$ 4,110,530	$ (212,779)	$ (19,094)	$ 5,298,947
Net earnings	0	0	476,564	0	0	476,564
Stock option exercises	1	15,908	0	0	0	15,909
Treasury stock sold	0	2,426	0	0	150	2,576
Currency translation adjustments, net of tax	0	0	0	(35,673)	0	(35,673)
Stock based compensation	0	59,757	0	0	0	59,757
Restricted stock activity	4	(2,017)	0	0	0	(2,013)
Conversion of senior subordinated convertible notes, net of tax	0	(12,373)	0	0	0	(12,373)
Dividends declared	0	0	(91,187)	0	0	(91,187)
Balances at at Sep. 30, 2016	$ 1,033	$ 1,482,963	$ 4,495,907	$ (248,452)	$ (18,944)	$ 5,712,507

Condensed Consolidated Stateme7

Condensed Consolidated Statement of Changes in Stockholders' Equity (unaudited) (Parenthetical) $ in Thousands	9 Months Ended
	Sep. 30, 2016USD ($)
Condensed Consolidated Statement of Changes in Stockholders' Equity (unaudited) [Abstract]
Currency translation adjustments, tax	$ 84
Conversion of senior subordinated convertible notes, tax	$ 936

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2016
Basis of Presentation [Abstract]
Basis of Presentation	1. Basis of Presentation The accompanying condensed consolidated financial statements for the three and nine months ended September 30, 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 first quarter of 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 and nine months ended September 30, 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 audited consolidated financial statements and the notes thereto included in its Annual Report.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2016
Recent Accounting Pronouncements [Abstract]
New Accounting Pronouncements and Changes in Accounting Principles	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 recent 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. Recently Adopted Accounting Pronouncements In Mar · The Company recorded tax benefits of $4.2 million and $9.7 million within income tax expense for the three and nine month periods ended September 30, 2016, respectively, 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 its diluted earnings per share since adoption. This resulted in an increase in diluted weighted average common shares outstanding of 272,905 and 280,852 shares for the three and nine month periods ended September 30, 2016, respectively. 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	Recently Released Accounting Pronouncements In August 2016, the FASB issued an update clarifying the classification of certain cash receipts and cash payments in the statement of cash flows. effective for annual reporting periods after December 15, 2017, including interim periods within those annual periods, 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	9 Months Ended
	Sep. 30, 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 September 30, Nine months ended September 30, 2016 2015 2016 2015 Basic shares outstanding 101,372 100,681 101,231 100,545 Effect of potential common stock: Common stock awards 1,112 847 1,131 868 Senior subordinated convertible notes 38 79 62 99 Diluted shares outstanding 102,522 101,607 102,424 101,512 For the three and nine months ended September 30, 2016 there were 1,063,100 and 1,066,100 outstanding stock options, respectively, that were not included in the determination of diluted earnings per share because doing so would have been antidilutive, as compared to 665,720 outstanding stock options that would have been antidilutive for both the three and nine month periods ended September 30, 2015.

Business Acquisitions

Business Acquisitions	9 Months Ended
	Sep. 30, 2016
Business Acquisitions [Abstract]
Business Acquisitions	4. Business Acquisitions Roper completed three business acquisitions in the nine months ended September 30, 2016, with an aggregate purchase price of $283 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. On April 1, 2016, the Company acquired 100% of the shares of GeneInsight, Inc., a provider of software for managing the analysis, interpretation and reporting of genetic tests. All three acquisitions are reported in the Medical & Scientific Imaging segment and were acquired to enhance existing platforms and product lines. The Company recorded $165 million in goodwill and $163 million of other identifiable intangibles in connection with the acquisitions; however, purchase price allocations are preliminary pending final tax-related adjustments. Of the $163 million intangible assets acquired, $10 million was assigned to trade names which have an indefinite life and therefore not subject to amortization. The remaining $153 million of acquired intangible assets have a weighted average useful life of 16 years. The amortizable intangible assets include customer relationships of $97 million (20 year weighted average useful life) and unpatented technology of $56 million (9 year weighted average useful life).

Stock Based Compensation

Stock Based Compensation	9 Months Ended
	Sep. 30, 2016
Stock Based Compensation [Abstract]
Stock-Based Compensation	5. Stock Based Compensation The Roper Technologies, Inc. 2016 Incentive Plan ("2016 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. The 2016 Plan was approved by shareholders at the Annual Meeting of Shareholders on May 27, 2016. The 2016 Plan replaces the Roper Technologies, Inc. Amended and Restated 2006 Incentive Plan ("2006 Plan"), and no additional grants will be made from the 2006 Plan. 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, 2016 2015 2016 2015 Stock based compensation $ 21,388 $ 17,597 $ 60,480 $ 47,035 Tax effect recognized in net income 7,486 6,159 21,168 16,462 Windfall tax benefit/(shortfall), net - 2,132 - 10,887 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: Nine months ended September 30, 2016 2015 Risk-free interest rate (%) 1.38 1.52 Expected option life (years) 5.20 5.10 Expected volatility (%) 21.63 22.23 Expected dividend yield (%) 0.70 0.62 Cash received from option exercises for the nine months ended September 30, 2016 and 2015 was $15.9 million and $21.3 million, respectively. Restricted Stock Awards - During the nine months ended September 30, 2016, 62,534 restricted awards vested with a weighted average grant date fair value of $135.68 per restricted share, and a weighted average vest date fair value of $172.61 per restricted share. Employee Stock Purchase Plan

Inventories

Inventories	9 Months Ended
	Sep. 30, 2016
Inventories [Abstract]
Inventories	6. Inventories The components of inventory were as follows (in thousands): September 30, December 31, 2015 Raw materials and supplies $ 119,287 $ 120,811 Work in process 29,440 22,979 Finished products 85,336 80,118 Inventory reserves (36,534 ) (34,040 ) $ 197,529 $ 189,868

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
	Sep. 30, 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 Energy Systems Total Balances at December 31, 2015 $ 3,039,197 $ 1,993,299 $ 374,033 $ 418,197 $ 5,824,726 Goodwill acquired 164,666 - - - 164,666 Other (977 ) 2,428 - - 1,451 Currency translation adjustments (5,517 ) (10,086 ) (2,539 ) (3,373 ) (21,515 ) Balances at September 30, 2016 $ 3,197,369 $ 1,985,641 $ 371,494 $ 414,824 $ 5,969,328 Other relates primarily to tax purchase accounting and working capital 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 $ 2,526,659 $ (689,813 ) $ 1,836,846 Unpatented technology 296,238 (136,128 ) 160,110 Software 174,399 (50,803 ) 123,596 Patents and other protective rights 23,840 (19,965 ) 3,875 Trade names 6,621 (396 ) 6,225 Assets not subject to amortization: Trade names 410,830 - 410,830 Balances at September 30, 2016 $ 3,438,587 $ (897,105 ) $ 2,541,482 Amortization expense of other intangible assets was $147,773 and $118,119 during the nine months ended September 30, 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	9 Months Ended
	Sep. 30, 2016
Debt [Abstract]
Debt	8. Debt On September 23, 2016, Roper entered into a new five-year unsecured credit facility (the "2016 Facility") composed of a five year $2.5 billion revolving credit facility with JPMorgan Chase Bank, N.A., as administrative agent and a syndicate of lenders. The Company may also, subject to compliance with specified conditions, request additional borrowings in the form of term loans or additional revolving credit commitments in an aggregate amount not to exceed $500 million. The interest rate on borrowings under the credit facility is calculated based upon various recognized indices plus a margin as defined in the 2016 Facility. The 2016 Facility replaces Roper's previous unsecured credit facility, dated as of July 27, 2012, as amended as of October 28, 2015 (the "2012 Facility"). Due to the early termination of the 2012 Facility, Roper recorded a $0.9 million non-cash debt extinguishment charge as other expense in the third quarter of 2016. This charge represents the unamortized fees associated with the 2012 Facility. The 2016 Facility contains affirmative and negative covenants which, among other things, limit Roper's ability to incur new debt, enter into certain mergers and acquisitions, sell assets and grant liens, make restricted payments (including the payment of dividends on Roper's common stock) and capital expenditures, or change its line of business. Roper is also subject to financial covenants which require the Company to limit its consolidated total leverage ratio and to maintain a minimum consolidated interest coverage ratio. The most restrictive covenant is the consolidated total leverage ratio which is limited to 3.5. Roper's 3.75% senior subordinated convertible notes due 2034 became convertible on January 15, 2009. During the nine months ended September 30, 2016, 7,670 notes were converted by note holders for $17.3 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.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2016
Fair Value of Financial Instruments [Abstract]
Fair Value of Financial Instruments	9. Fair Value of Financial Instruments Roper's debt at September 30, 2016 included $3.1 billion of fixed-rate senior notes with the following fair values (in millions): $400 million 1.850% senior notes due 2017 $ 402 $800 million 2.050% senior notes due 2018 810 $500 million 6.250% senior notes due 2019 561 $600 million 3.000% senior notes due 2020 625 $500 million 3.125% senior notes due 2022 513 $300 million 3.850% senior notes due 2025 318 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.

Contingencies

Contingencies	9 Months Ended
	Sep. 30, 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 that, in general, are based upon claims of the kind that have been customary over the past several years and which the Company is vigorously defending. After analyzing the Company's contingent liabilities on a gross basis and, based upon past experience with resolution of its product liability and employment practices claims and the limits of the primary, excess, and umbrella liability insurance coverages that are available with respect to pending claims, management believes that adequate provision has been made to cover any potential liability not covered by insurance, and that the ultimate liability, if any, arising from these actions should not have a material adverse effect on Roper's consolidated financial position, results of operations or cash flows. 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 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, 2016 is presented below (in thousands): Balances at December 31, 2015 $ 10,183 Additions charged to costs and expenses 12,516 Deductions (12,752 ) Other 52 Balances at September 30, 2016 $ 9,999

Business Segments

Business Segments	9 Months Ended
	Sep. 30, 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 September 30, Nine months ended September 30, 2016 2015 Change 2016 2015 Change Net sales: Medical & Scientific Imaging $ 338,027 $ 299,621 12.8 % $ 1,010,826 $ 893,583 13.1 % RF Technology 303,565 253,556 19.7 % 872,536 752,068 16.0 % Industrial Technology 178,317 186,147 (4.2 )% 528,179 563,342 (6.2 )% Energy Systems & Controls 125,235 144,609 (13.4 )% 367,584 429,762 (14.5 )% Total $ 945,144 $ 883,933 6.9 % $ 2,779,125 $ 2,638,755 5.3 % Gross profit: Medical & Scientific Imaging $ 247,432 $ 222,655 11.1 % $ 740,725 $ 660,971 12.1 % RF Technology 169,123 133,692 26.5 % 492,493 397,874 23.8 % Industrial Technology 90,950 92,245 (1.4 )% 266,679 281,052 (5.1 )% Energy Systems & Controls 70,988 84,891 (16.4 )% 205,635 245,658 (16.3 )% Total $ 578,493 $ 533,483 8.4 % $ 1,705,532 $ 1,585,555 7.6 % Operating profit*: Medical & Scientific Imaging $ 118,979 $ 108,399 9.8 % $ 347,706 $ 325,439 6.8 % RF Technology 94,785 74,604 27.1 % 272,905 228,521 19.4 % Industrial Technology 52,800 52,298 1.0 % 150,850 162,383 (7.1 )% Energy Systems & Controls 31,777 42,300 (24.9 )% 83,728 110,424 (24.2 )% Total $ 298,341 $ 277,601 7.5 % $ 855,189 $ 826,767 3.4 % Long-lived assets: Medical & Scientific Imaging $ 38,793 $ 35,818 8.3 % RF Technology 30,984 29,570 4.8 % Industrial Technology 35,584 40,170 (11.4 )% Energy Systems & Controls 10,720 13,915 (23.0 )% Total $ 116,081 $ 119,473 (2.8 )% *Segment operating profit is before unallocated corporate general and administrative expenses. These expenses were $30,951 and $27,230 for the three months ended September 30, 2016 and 2015, respectively, and $89,730 and $77,526 for the nine months ended September 30, 2016 and 2015, respectively.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2016
Subsequent Events [Abstract]
Subsequent Events [Text Block]	12. Subsequent Events On October 31, 2016, Roper acquired 100% of the shares of iSqFt Parent Corp. (d/b/a ConstructConnect)

Recent Accounting Pronounceme20

Recent Accounting Pronouncements (Policies)	9 Months Ended
	Sep. 30, 2016
Recent Accounting Pronouncements [Abstract]
New Accounting Pronouncements, Policy	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 recent 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. Recently Adopted Accounting Pronouncements In Mar · The Company recorded tax benefits of $4.2 million and $9.7 million within income tax expense for the three and nine month periods ended September 30, 2016, respectively, 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 its diluted earnings per share since adoption. This resulted in an increase in diluted weighted average common shares outstanding of 272,905 and 280,852 shares for the three and nine month periods ended September 30, 2016, respectively. 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. Recently Released Accounting Pronouncements In August 2016, the FASB issued an update clarifying the classification of certain cash receipts and cash payments in the statement of cash flows. effective for annual reporting periods after December 15, 2017, including interim periods within those annual periods, 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)	9 Months Ended
	Sep. 30, 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)	9 Months Ended
	Sep. 30, 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)	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Weighted Average Shares Outstanding	Three months ended September 30, Nine months ended September 30, 2016 2015 2016 2015 Basic shares outstanding 101,372 100,681 101,231 100,545 Effect of potential common stock: Common stock awards 1,112 847 1,131 868 Senior subordinated convertible notes 38 79 62 99 Diluted shares outstanding 102,522 101,607 102,424 101,512

Stock Based Compensation (Table

Stock Based Compensation (Tables)	9 Months Ended
	Sep. 30, 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 September 30, Nine months ended September 30, 2016 2015 2016 2015 Stock based compensation $ 21,388 $ 17,597 $ 60,480 $ 47,035 Tax effect recognized in net income 7,486 6,159 21,168 16,462 Windfall tax benefit/(shortfall), net - 2,132 - 10,887 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	Nine months ended September 30, 2016 2015 Risk-free interest rate (%) 1.38 1.52 Expected option life (years) 5.20 5.10 Expected volatility (%) 21.63 22.23 Expected dividend yield (%) 0.70 0.62

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2016
Inventories [Abstract]
Inventories	The components of inventory were as follows (in thousands): September 30, December 31, 2015 Raw materials and supplies $ 119,287 $ 120,811 Work in process 29,440 22,979 Finished products 85,336 80,118 Inventory reserves (36,534 ) (34,040 ) $ 197,529 $ 189,868

Goodwill and Other Intangible26

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2016
Goodwill and Other Intangible Assets [Abstract]
Goodwill	The carrying value of goodwill by segment was as follows (in thousands): Medical & RF Technology Industrial Energy Systems Total Balances at December 31, 2015 $ 3,039,197 $ 1,993,299 $ 374,033 $ 418,197 $ 5,824,726 Goodwill acquired 164,666 - - - 164,666 Other (977 ) 2,428 - - 1,451 Currency translation adjustments (5,517 ) (10,086 ) (2,539 ) (3,373 ) (21,515 ) Balances at September 30, 2016 $ 3,197,369 $ 1,985,641 $ 371,494 $ 414,824 $ 5,969,328
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 $ 2,526,659 $ (689,813 ) $ 1,836,846 Unpatented technology 296,238 (136,128 ) 160,110 Software 174,399 (50,803 ) 123,596 Patents and other protective rights 23,840 (19,965 ) 3,875 Trade names 6,621 (396 ) 6,225 Assets not subject to amortization: Trade names 410,830 - 410,830 Balances at September 30, 2016 $ 3,438,587 $ (897,105 ) $ 2,541,482

Fair Value of Financial Instr27

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2016
Fair Value of Financial Instruments [Abstract]
Fixed-Rate Senior Notes, Fair Value	Roper's debt at September 30, 2016 included $3.1 billion of fixed-rate senior notes with the following fair values (in millions): $400 million 1.850% senior notes due 2017 $ 402 $800 million 2.050% senior notes due 2018 810 $500 million 6.250% senior notes due 2019 561 $600 million 3.000% senior notes due 2020 625 $500 million 3.125% senior notes due 2022 513 $300 million 3.850% senior notes due 2025 318

Contingencies (Tables)

Contingencies (Tables)	9 Months Ended
	Sep. 30, 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 nine months ended September 30, 2016 is presented below (in thousands): Balances at December 31, 2015 $ 10,183 Additions charged to costs and expenses 12,516 Deductions (12,752 ) Other 52 Balances at September 30, 2016 $ 9,999

Business Segments (Tables)

Business Segments (Tables)	9 Months Ended
	Sep. 30, 2016
Business Segments [Abstract]
Sales and Operating Profit by Business Segment	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, 2016 2015 Change 2016 2015 Change Net sales: Medical & Scientific Imaging $ 338,027 $ 299,621 12.8 % $ 1,010,826 $ 893,583 13.1 % RF Technology 303,565 253,556 19.7 % 872,536 752,068 16.0 % Industrial Technology 178,317 186,147 (4.2 )% 528,179 563,342 (6.2 )% Energy Systems & Controls 125,235 144,609 (13.4 )% 367,584 429,762 (14.5 )% Total $ 945,144 $ 883,933 6.9 % $ 2,779,125 $ 2,638,755 5.3 % Gross profit: Medical & Scientific Imaging $ 247,432 $ 222,655 11.1 % $ 740,725 $ 660,971 12.1 % RF Technology 169,123 133,692 26.5 % 492,493 397,874 23.8 % Industrial Technology 90,950 92,245 (1.4 )% 266,679 281,052 (5.1 )% Energy Systems & Controls 70,988 84,891 (16.4 )% 205,635 245,658 (16.3 )% Total $ 578,493 $ 533,483 8.4 % $ 1,705,532 $ 1,585,555 7.6 % Operating profit*: Medical & Scientific Imaging $ 118,979 $ 108,399 9.8 % $ 347,706 $ 325,439 6.8 % RF Technology 94,785 74,604 27.1 % 272,905 228,521 19.4 % Industrial Technology 52,800 52,298 1.0 % 150,850 162,383 (7.1 )% Energy Systems & Controls 31,777 42,300 (24.9 )% 83,728 110,424 (24.2 )% Total $ 298,341 $ 277,601 7.5 % $ 855,189 $ 826,767 3.4 % Long-lived assets: Medical & Scientific Imaging $ 38,793 $ 35,818 8.3 % RF Technology 30,984 29,570 4.8 % Industrial Technology 35,584 40,170 (11.4 )% Energy Systems & Controls 10,720 13,915 (23.0 )% Total $ 116,081 $ 119,473 (2.8 )% *Segment operating profit is before unallocated corporate general and administrative expenses. These expenses were $30,951 and $27,230 for the three months ended September 30, 2016 and 2015, respectively, and $89,730 and $77,526 for the nine months ended September 30, 2016 and 2015, respectively.

Recent Accounting Pronounceme30

Recent Accounting Pronouncements (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
New Accounting Pronouncement, Early Adoption [Line Items]
Tax benefit	$ 72,977	$ 69,836	$ 205,822	$ 199,441
Adjustments for New Accounting Principle, Early Adoption [Member]
New Accounting Pronouncement, Early Adoption [Line Items]
Tax benefit	$ 4,200		$ 9,700
Increase in diluted weighted average common shares outstanding (in shares)	272,905		280,852

Earnings Per Share (Details)

Earnings Per Share (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Schedule of weighted average shares outstanding [Abstract]
Basic shares outstanding (in shares)	101,372,000	100,681,000	101,231,000	100,545,000
Effect of potential common stock [Abstract]
Common stock awards (in shares)	1,112,000	847,000	1,131,000	868,000
Senior subordinated convertible notes (in shares)	38,000	79,000	62,000	99,000
Diluted shares outstanding (in shares)	102,522,000	101,607,000	102,424,000	101,512,000
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive stock options (in shares)	1,063,100	665,720	1,066,100	665,720

Business Acquisitions (Details)

Business Acquisitions (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2016USD ($)Business	Jan. 07, 2016	Dec. 31, 2015USD ($)
Business Acquisition [Line Items]
Goodwill	$ 5,969,328		$ 5,824,726
Business Acquisitions 2016 [Member]
Business Acquisition [Line Items]
Number of business acquired | Business	3
Cost of acquired entity purchase price	$ 283,000
Goodwill	165,000
Intangible assets other than goodwill	163,000
Finite lived intangible assets	$ 153,000
Weighted average useful life	16 years
Business Acquisitions 2016 [Member] | Customer Relationships [Member]
Business Acquisition [Line Items]
Finite lived intangible assets	$ 97,000
Weighted average useful life	20 years
Business Acquisitions 2016 [Member] | Unpatented Technology [Member]
Business Acquisition [Line Items]
Finite lived intangible assets	$ 56,000
Weighted average useful life	9 years
Business Acquisitions 2016 [Member] | Trade names [Member]
Business Acquisition [Line Items]
Indefinite lived intangible assets	$ 10,000
CliniSys Group, Ltd. [Member]
Business Acquisition [Line Items]
Percentage of voting interest acquired		100.00%
GeneInsight Inc. [Member]
Business Acquisition [Line Items]
Percentage of voting interest acquired		100.00%

Stock Based Compensation (Detai

Stock Based Compensation (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of eligible earnings to purchase common stock through the employee stock purchase plan	10.00%		10.00%
Discount on the average closing price for the employee stock purchase plan			5.00%
Stock Based Compensation Expense [Abstract]
Stock based compensation	$ 21,388	$ 17,597	$ 60,480	$ 47,035
Tax effect recognized in net income	7,486	6,159	21,168	16,462
Windfall tax benefit/(shortfall), net	$ 0	$ 2,132	$ 0	$ 10,887
Stock Options [Member]
Stock Based Compensation Expense [Abstract]
Employee stock options granted during the period (in shares)			633,000	585,155
Fair value per share (in dollars per share)			$ 34.45	$ 33.69
Weighted average assumptions used to value option grants [Abstract]
Risk-free interest rate (%)			1.38%	1.52%
Expected option life (years)			5 years 2 months 13 days	5 years 1 month 6 days
Expected volatility (%)			21.63%	22.23%
Expected dividend yield (%)			0.70%	0.62%
Cash received from exercise of options			$ 15,900	$ 21,300
Restricted Stock Awards [Member]
Weighted average assumptions used to value option grants [Abstract]
Restricted stock awards granted during period (in shares)			395,980	349,035
Weighted average fair value per share of restricted stock awards granted during the period (in dollars per share)			$ 169.03	$ 152.80
Restricted stock awards vested during period (in shares)			62,534
Weighted average grant date fair value per share (in dollars per share)			$ 135.68
Weighted average vest date fair value per share (in dollars per share)			$ 172.61
Employee Stock Purchase Plan [Member]
Weighted average assumptions used to value option grants [Abstract]
Shares of stock purchased during the period by participants in the employee stock purchase plan (in shares)			15,076	13,437
Amount paid for stock purchased during the period by participants in the employee stock purchase plan			$ 2,580	$ 2,120

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Inventories [Abstract]
Raw materials and supplies	$ 119,287	$ 120,811
Work in process	29,440	22,979
Finished products	85,336	80,118
Inventory reserves	(36,534)	(34,040)
Total Inventory	$ 197,529	$ 189,868

Goodwill and Other Intangible35

Goodwill and Other Intangible Assets (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Goodwill [Line Items]
Balances	$ 5,824,726
Goodwill acquired	164,666
Other	1,451
Currency translation adjustments	(21,515)
Balances	5,969,328
Finite-Lived Intangible Assets [Line Items]
Accumulated amortization	(897,105)		$ (783,799)
Intangible Assets - Cost and Net Book Value [Abstract]
Cost	3,438,587		3,312,795
Net book value	2,541,482		2,528,996
Amortization expense of other intangible assets	147,773	$ 118,119
Trade names [Member]
Indefinite-lived Intangible Assets [Line Items]
Assets not subject to amortization	410,830		407,460
Medical And Scientific Imaging [Member]
Goodwill [Line Items]
Balances	3,039,197
Goodwill acquired	164,666
Other	(977)
Currency translation adjustments	(5,517)
Balances	3,197,369
RF Technology [Member]
Goodwill [Line Items]
Balances	1,993,299
Goodwill acquired	0
Other	2,428
Currency translation adjustments	(10,086)
Balances	1,985,641
Industrial Technology [Member]
Goodwill [Line Items]
Balances	374,033
Goodwill acquired	0
Other	0
Currency translation adjustments	(2,539)
Balances	371,494
Energy Systems And Controls [Member]
Goodwill [Line Items]
Balances	418,197
Goodwill acquired	0
Other	0
Currency translation adjustments	(3,373)
Balances	414,824
Customer related intangibles [Member]
Finite-Lived Intangible Assets [Line Items]
Cost	2,526,659		2,448,509
Accumulated amortization	(689,813)		(602,615)
Net book value	1,836,846		1,845,894
Unpatented technology [Member]
Finite-Lived Intangible Assets [Line Items]
Cost	296,238		270,170
Accumulated amortization	(136,128)		(117,405)
Net book value	160,110		152,765
Software [Member]
Finite-Lived Intangible Assets [Line Items]
Cost	174,399		161,201
Accumulated amortization	(50,803)		(44,298)
Net book value	123,596		116,903
Patents and other protective rights [Member]
Finite-Lived Intangible Assets [Line Items]
Cost	23,840		24,160
Accumulated amortization	(19,965)		(18,659)
Net book value	3,875		5,501
Backlog [Member]
Finite-Lived Intangible Assets [Line Items]
Cost			700
Accumulated amortization			(700)
Net book value			0
Trade names [Member]
Finite-Lived Intangible Assets [Line Items]
Cost	6,621		595
Accumulated amortization	(396)		(122)
Net book value	$ 6,225		$ 473

Debt (Details)

Debt (Details) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2016USD ($)NotesConverted	Sep. 30, 2016USD ($)NotesConverted
Senior Subordinated Convertible Notes [Member]
Debt Instrument [Line Items]
Stated interest rate percentage - debt instruments	3.75%	3.75%
Maturity date of debt		Jan. 15, 2034
First conversion date		Jan. 15, 2009
Number of notes converted | NotesConverted	7,670	7,670
Cash payments for debt conversions		$ 17.3
Deferred tax liability		0.9
Credit Facility Member 2012 [Member]
Line of Credit Facility [Line Items]
Unamortized Debt Issuance Expense	$ 0.9	0.9
Credit Facility Member 2016 [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Description	five-year unsecured credit facility composed of a five year $2.5 billion revolving credit facility
Line of Credit Facility, Initiation Date	Sep. 23, 2016
Line of Credit Facility, Expiration Date	Sep. 23, 2021
Line of Credit Facility, Maximum Borrowing Capacity	$ 2,500	$ 2,500
Debt covenant compliance	3.5	3.5

Fair Value of Financial Instr37

Fair Value of Financial Instruments (Details) - Fair Value, Inputs, Level 2 [Member] $ in Millions	9 Months Ended
	Sep. 30, 2016USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed rate senior notes carrying amount	$ 3,100
Senior notes due 2017 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Face value of debt	400
Senior notes due 2017 fair value	$ 402
Debt Instrument, Interest Rate	1.85%
Maturity date of debt	Nov. 15, 2017
Senior notes due 2018 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Face value of debt	$ 800
Senior notes due 2018 fair value	$ 810
Debt Instrument, Interest Rate	2.05%
Maturity date of debt	Oct. 1, 2018
Senior notes due 2019 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Face value of debt	$ 500
Senior notes due 2019 fair value	$ 561
Debt Instrument, Interest Rate	6.25%
Maturity date of debt	Sep. 1, 2019
Senior notes due 2020 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Face value of debt	$ 600
Senior notes due 2020 fair value	$ 625
Debt Instrument, Interest Rate	3.00%
Maturity date of debt	Dec. 15, 2020
Senior notes due 2022 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Face value of debt	$ 500
Senior notes due 2022 fair value	$ 513
Debt Instrument, Interest Rate	3.125%
Maturity date of debt	Nov. 15, 2022
Senior notes due 2025 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Face value of debt	$ 300
Senior notes due 2025 fair value	$ 318
Debt Instrument, Interest Rate	3.85%
Maturity date of debt	Dec. 15, 2025

Contingencies (Details)

Contingencies (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2016USD ($)
Warranty Accrual Activity [Roll Forward]
Balance	$ 10,183
Additions charged to costs and expenses	12,516
Deductions	(12,752)
Other	52
Balance	$ 9,999

Business Segments (Details)

Business Segments (Details) - USD ($) $ in Thousands		3 Months Ended				9 Months Ended
		Sep. 30, 2016		Sep. 30, 2015		Sep. 30, 2016	Sep. 30, 2015
Segment Reporting Information [Line Items]
Net sales		$ 945,144		$ 883,933		$ 2,779,125	$ 2,638,755
Percent change in net sales		6.90%				5.30%
Gross profit		$ 578,493		533,483		$ 1,705,532	1,585,555
Percent change in gross profit		8.40%				7.60%
Operating profit		$ 298,341	[1]	277,601	[1]	$ 855,189	826,767
Percent change in operating profit		7.50%	[1]			3.40%
Long-lived assets		$ 116,081		119,473		$ 116,081	119,473
Percent change in long-lived assets						(2.80%)
Operating Segments [Member] | Medical And Scientific Imaging [Member]
Segment Reporting Information [Line Items]
Net sales		$ 338,027		299,621		$ 1,010,826	893,583
Percent change in net sales		12.80%				13.10%
Gross profit		$ 247,432		222,655		$ 740,725	660,971
Percent change in gross profit		11.10%				12.10%
Operating profit		$ 118,979	[1]	108,399	[1]	$ 347,706	325,439
Percent change in operating profit		9.80%	[1]			6.80%
Long-lived assets		$ 38,793		35,818		$ 38,793	35,818
Percent change in long-lived assets						8.30%
Operating Segments [Member] | RF Technology [Member]
Segment Reporting Information [Line Items]
Net sales		$ 303,565		253,556		$ 872,536	752,068
Percent change in net sales		19.70%				16.00%
Gross profit		$ 169,123		133,692		$ 492,493	397,874
Percent change in gross profit		26.50%				23.80%
Operating profit		$ 94,785	[1]	74,604	[1]	$ 272,905	228,521
Percent change in operating profit		27.10%	[1]			19.40%
Long-lived assets		$ 30,984		29,570		$ 30,984	29,570
Percent change in long-lived assets						4.80%
Operating Segments [Member] | Industrial Technology [Member]
Segment Reporting Information [Line Items]
Net sales		$ 178,317		186,147		$ 528,179	563,342
Percent change in net sales		(4.20%)				(6.20%)
Gross profit		$ 90,950		92,245		$ 266,679	281,052
Percent change in gross profit		(1.40%)				(5.10%)
Operating profit		$ 52,800	[1]	52,298	[1]	$ 150,850	162,383
Percent change in operating profit		1.00%	[1]			(7.10%)
Long-lived assets		$ 35,584		40,170		$ 35,584	40,170
Percent change in long-lived assets						(11.40%)
Operating Segments [Member] | Energy Systems And Controls [Member]
Segment Reporting Information [Line Items]
Net sales		$ 125,235		144,609		$ 367,584	429,762
Percent change in net sales		(13.40%)				(14.50%)
Gross profit		$ 70,988		84,891		$ 205,635	245,658
Percent change in gross profit		(16.40%)				(16.30%)
Operating profit		$ 31,777	[1]	42,300	[1]	$ 83,728	110,424
Percent change in operating profit		(24.90%)	[1]			(24.20%)
Long-lived assets		$ 10,720		13,915		$ 10,720	13,915
Percent change in long-lived assets						(23.00%)
Corporate [Member]
Segment Reporting Information [Line Items]
Unallocated corporate general and administrative expenses	[1]	$ 30,951		$ 27,230		$ 89,730	$ 77,526
[1]	*Segment operating profit is before unallocated corporate general and administrative expenses. These expenses were $30,951 and $27,230 for the three months ended September 30, 2016 and 2015, respectively, and $89,730 and $77,526 for the nine months ended September 30, 2016 and 2015, respectively.