Roper (ROP) 10-Q 2 Nov 22 2022 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2022	Oct. 28, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
Document Transition Report	false
Entity File Number	1-12273
Entity Registrant Name	ROPER TECHNOLOGIES, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	51-0263969
Entity Address, Address Line One	6901 Professional Parkway, Suite 200
Entity Address, City or Town	Sarasota,
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	34240
City Area Code	941
Local Phone Number	556-2601
Title of 12(b) Security	Common Stock, $0.01 Par Value
Trading Symbol	ROP
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		106,052,054
Entity Central Index Key	0000882835
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Amendment Flag	false

Condensed Consolidated Statemen

Condensed Consolidated Statements of Earnings (unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
Net revenues	$ 1,350.3	$ 1,232.1	$ 3,940.9	$ 3,577.2
Cost of sales	408.5	360.4	1,190.4	1,050
Gross profit	941.8	871.7	2,750.5	2,527.2
Selling, general and administrative expenses	548.6	524.8	1,638.5	1,546.5
Income from operations	393.2	346.9	1,112	980.7
Interest expense, net	41.3	58.2	138.6	178.2
Other income (expense), net	3.6	(2.1)	0.2	25
Earnings before income taxes	355.5	286.6	973.6	827.5
Income taxes	78.6	75.8	235.3	189.3
Net earnings from continuing operations	276.9	210.8	738.3	638.2
Earnings from discontinued operations, net of tax	49	78.7	170.3	226.6
Gain on disposition of discontinued operations, net of tax	1.1	0	1,707.7	0
Net earnings from discontinued operations	50.1	78.7	1,878	226.6
Net earnings	$ 327	$ 289.5	$ 2,616.3	$ 864.8
Net earnings per share from continuing operations:
Basic (in dollars per share)	$ 2.61	$ 2	$ 6.97	$ 6.07
Diluted (in dollars per share)	2.59	1.97	6.91	6
Net earnings per share from discontinued operations:
Basic (in dollars per share)	0.47	0.75	17.74	2.15
Diluted (in dollars per share)	0.47	0.74	17.59	2.13
Net earnings per share:
Basic (in dollars per share)	3.08	2.75	24.71	8.22
Diluted (in dollars per share)	$ 3.06	$ 2.71	$ 24.50	$ 8.13
Weighted average common shares outstanding:
Basic (in shares)	106	105.4	105.9	105.2
Diluted (in shares)	106.8	106.7	106.8	106.4

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Net earnings	$ 327	$ 289.5	$ 2,616.3	$ 864.8
Other comprehensive loss, net of tax:
Foreign currency translation adjustments	(180.9)	(35.4)	(285.6)	(3.5)
Total other comprehensive loss, net of tax	(180.9)	(35.4)	(285.6)	(3.5)
Comprehensive income	$ 146.1	$ 254.1	$ 2,330.7	$ 861.3

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (unaudited) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
ASSETS:
Cash and cash equivalents	$ 1,894.5	$ 351.5
Accounts receivable, net	630.3	687.6
Inventories, net	101	69.2
Income taxes receivable	33.5	16.8
Unbilled receivables	98.8	81.9
Other current assets	138.6	136.1
Current assets held for sale	1,094.7	1,078
Total current assets	3,991.4	2,421.1
Property, plant and equipment, net	83.2	82.7
Goodwill	13,672.8	13,476.3
Other intangible assets, net	6,243.5	6,509.1
Deferred taxes	47.2	50
Other assets	359.1	369.8
Assets held for sale	0	804.9
Total assets	24,397.2	23,713.9
LIABILITIES AND STOCKHOLDERS' EQUITY:
Accounts payable	121.2	98.3
Accrued compensation	225.6	261.9
Deferred revenue	1,048.8	1,106.3
Other accrued liabilities	365.6	398.7
Income taxes payable	159.9	117.3
Current portion of long-term debt, net	698.9	799.2
Current liabilities held for sale	220.4	340.1
Total current liabilities	2,840.4	3,121.8
Long-term debt, net of current portion	5,960.6	7,122.6
Deferred taxes	1,365	1,466.2
Other liabilities	373.4	390.1
Liabilities held for sale	0	49.4
Total liabilities	10,539.4	12,150.1
Commitments and contingencies
Common stock	1.1	1.1
Additional paid-in capital	2,467.9	2,307.8
Retained earnings	11,874.8	9,455.6
Accumulated other comprehensive loss	(468.7)	(183.1)
Treasury stock	(17.3)	(17.6)
Total stockholders' equity	13,857.8	11,563.8
Total liabilities and stockholders' equity	$ 24,397.2	$ 23,713.9

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flows from operating activities:
Net earnings from continuing operations	$ 738.3	$ 638.2
Adjustments to reconcile net earnings from continuing operations to cash flows from operating activities:
Depreciation and amortization of property, plant and equipment	28	33.9
Amortization of intangible assets	438.4	429
Amortization of deferred financing costs	9.2	10.1
Non-cash stock compensation	90.8	93.5
Gain on sale of assets, net of tax	0	(21.6)
Income tax provision, excluding tax associated with gain on sale of assets	235.3	183.8
Changes in operating assets and liabilities, net of acquired businesses:
Accounts receivable	48.3	(0.3)
Unbilled receivables	(21.7)	(22.9)
Inventories	(33.6)	0
Accounts payable	24.7	14.6
Other accrued liabilities	(59)	10.8
Deferred revenue	(15.2)	26.5
Cash tax payments related to disposal of businesses	(534.6)	0
Cash income taxes paid	(397.5)	(223.8)
Other, net	(1.2)	(29.2)
Cash provided by operating activities from continuing operations	550.2	1,142.6
Cash provided by operating activities from discontinued operations	112.7	289.8
Cash provided by operating activities	662.9	1,432.4
Cash flows from (used in) investing activities:
Acquisitions of businesses, net of cash acquired	(580.9)	(19.4)
Capital expenditures	(30)	(19.9)
Capitalized software expenditures	(21.9)	(22.2)
Proceeds from sale of assets	0	27.1
Other, net	(1.8)	(1.5)
Cash used in investing activities from continuing operations	(634.6)	(35.9)
Proceeds from disposition of discontinued operations	2,997.1	0
Cash used in investing activities from discontinued operations	(4.9)	(6.5)
Cash provided by (used in) investing activities	2,357.6	(42.4)
Cash flows from (used in) financing activities:
Payments on senior notes	(800)	0
Borrowings (payments) under revolving line of credit, net	(470)	(1,240)
Debt issuance costs	(3.9)	0
Cash dividends to stockholders	(196.2)	(176.9)
Proceeds from stock-based compensation, net	57	63.9
Treasury stock sales	11.6	11.8
Other	(0.3)	0
Cash flows used in financing activities from continuing operations	(1,401.8)	(1,341.2)
Cash flows provided by (used in) financing activities from discontinued operations	(11.3)	0.3
Cash flows used in financing activities	(1,413.1)	(1,340.9)
Effect of foreign currency exchange rate changes on cash	(64.4)	(4.9)
Net increase in cash and cash equivalents	1,543	44.2
Cash and cash equivalents, beginning of period	351.5	308.3
Cash and cash equivalents, end of period	$ 1,894.5	$ 352.5

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Changes in Stockholders' Equity (unaudited) - USD ($) $ in Millions	Total	Common stock	Additional paid-in capital	Retained earnings	Accumulated other comprehensive loss	Treasury stock
Balance at beginning of period at Dec. 31, 2020	$ 10,479.8	$ 1.1	$ 2,097.5	$ 8,546.2	$ (147)	$ (18)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	864.8			864.8
Stock option exercises	81.8		81.8
Treasury stock sold	11.8		11.5			0.3
Currency translation adjustments	(3.5)				(3.5)
Stock-based compensation	103.3		103.3
Restricted stock activity	(17.9)		(17.9)
Dividends declared	(177.8)			(177.8)
Balance at end of period at Sep. 30, 2021	11,342.3	1.1	2,276.2	9,233.2	(150.5)	(17.7)
Balance at beginning of period at Jun. 30, 2021	11,089.2	1.1	2,217.9	9,003.1	(115.1)	(17.8)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	289.5			289.5
Stock option exercises	20.7		20.7
Treasury stock sold	3.6		3.5			0.1
Currency translation adjustments	(35.4)				(35.4)
Stock-based compensation	36.1		36.1
Restricted stock activity	(2)		(2)
Dividends declared	(59.4)			(59.4)
Balance at end of period at Sep. 30, 2021	11,342.3	1.1	2,276.2	9,233.2	(150.5)	(17.7)
Balance at beginning of period at Dec. 31, 2021	11,563.8	1.1	2,307.8	9,455.6	(183.1)	(17.6)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	2,616.3			2,616.3
Stock option exercises	80.8		80.8
Cash settlement of share-based awards in connection with disposition of discontinued operations	(11.1)		(11.1)
Treasury stock sold	11.6		11.3			0.3
Currency translation adjustments	(285.6)				(285.6)
Stock-based compensation	102.9		102.9
Restricted stock activity	(23.8)		(23.8)
Dividends declared	(197.1)			(197.1)
Balance at end of period at Sep. 30, 2022	13,857.8	1.1	2,467.9	11,874.8	(468.7)	(17.3)
Balance at beginning of period at Jun. 30, 2022	13,726.5	1.1	2,417.1	11,613.5	(287.8)	(17.4)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	327			327
Stock option exercises	17.9		17.9
Treasury stock sold	3.1		3			0.1
Currency translation adjustments	(180.9)				(180.9)
Stock-based compensation	31.7		31.7
Restricted stock activity	(1.8)		(1.8)
Dividends declared	(65.7)			(65.7)
Balance at end of period at Sep. 30, 2022	$ 13,857.8	$ 1.1	$ 2,467.9	$ 11,874.8	$ (468.7)	$ (17.3)

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Changes in Stockholders' Equity (unaudited) (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Stockholders' Equity [Abstract]
Dividends declared (in usd per share)	$ 0.62	$ 0.5625	$ 1.86	$ 1.6875

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying Condensed Consolidated Financial Statements for the three and nine months ended September 30, 2022 and 2021 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,” the “Company,” “we,” “our” or “us”) for all periods presented. The December 31, 2021 financial position data included herein was derived from the audited consolidated financial statements included in the Company’s 2021 Annual Report on Form 10-K (“Annual Report”) filed on February 22, 2022 with the Securities and Exchange Commission (“SEC”) but does not include all disclosures required by U.S. generally accepted accounting principles (“GAAP”). Roper’s management has made estimates and assumptions relating to the reporting of assets and liabilities and the disclosure of contingent assets and liabilities to prepare these Condensed Consolidated Financial Statements in conformity with GAAP. Actual results could differ from those estimates. The results of operations for the three and nine months ended September 30, 2022 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. Certain prior period amounts have been reclassified to conform to current period presentation. Discontinued Operations During the second quarter of 2022, the Company entered into a definitive agreement to sell a majority equity stake in our industrial businesses, including its entire historical Process Technologies reportable segment and the industrial businesses within its historical Measurement & Analytical Solutions reportable segment, to affiliates of Clayton, Dubilier & Rice, LLC. The transaction, which is expected to close in the fourth quarter of 2022, is subject to customary closing conditions, including regulatory approvals. The businesses included in this transaction are Alpha, AMOT, CCC, Cornell, Dynisco, FTI, Hansen, Hardy, Logitech, Metrix, PAC, Roper Pump, Struers, Technolog, Uson, and Viatran (collectively the “Industrial Businesses”). During 2021, the Company entered into definitive agreements to divest our TransCore, Zetec and CIVCO Radiotherapy businesses (“2021 Divestitures”). As of March 31, 2022, Roper had completed the 2021 Divestitures. The financial results for these businesses are presented as discontinued operations for all periods presented. Unless otherwise noted, discussion within these notes to the Condensed Consolidated Financial Statements relate to continuing operations. Refer to Note 5 for additional information on discontinued operations. Update to Segment Reporting Structure During the second quarter of 2022, we updated our reportable segment structure following the announcement of the transaction to sell a majority stake in our Industrial Businesses. The Company’s new reporting segment structure is classified based on business model and delivery of performance obligations. The three updated reportable segments (and businesses within each) are as follows: –Application Software - Aderant, CBORD, CliniSys, Data Innovations, Deltek, IntelliTrans, PowerPlan, Strata, Vertafore –Network Software - ConstructConnect, DAT, Foundry, iPipeline, iTradeNetwork, Loadlink, MHA, SHP, SoftWriters –Technology Enabled Products - CIVCO Medical Solutions, FMI, Inovonics, IPA, Neptune, Northern Digital, rf IDEAS, Verathon The day-to-day operations of our businesses, our organizational structure, and our strategy remain unchanged. All prior periods have been recast to reflect the changes noted above.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2022
Accounting Standards Update and Change in Accounting Principle [Abstract]
Recent Accounting Pronouncements	Recent Accounting PronouncementsThe Financial Accounting Standards Board (“FASB”) establishes changes to accounting principles under GAAP in the form of accounting standards updates (“ASUs”) to the Accounting Standards Codification (“ASC”). The Company considers the applicability and impact of all ASUs. Any recent ASUs 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.

Weighted Average Shares Outstan

Weighted Average Shares Outstanding	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Weighted Average Shares Outstanding	Weighted Average Shares Outstanding 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 based upon the trading price of Roper’s common stock. The effects of potential common stock were determined using the treasury stock method. Weighted average shares outstanding are shown below: Three months ended September 30, Nine months ended September 30, 2022 2021 2022 2021 Basic shares outstanding 106.0 105.4 105.9 105.2 Effect of potential common stock: Common stock awards 0.8 1.3 0.9 1.2 Diluted shares outstanding 106.8 106.7 106.8 106.4 For the three and nine months ended September 30, 2022, there were 0.832 and 0.829 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 0.502 and 0.530 outstanding stock options that would have been antidilutive in the respective 2021 periods.

Business Acquisitions and Dispo

Business Acquisitions and Disposition	9 Months Ended
	Sep. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Business Acquisitions and Disposition	Business Acquisitions and Disposition On January 3, 2022, Roper acquired the outstanding membership interests of Horizon Lab Systems, LLC, a provider of laboratory information management systems in the toxicology, environmental, public health and agricultural markets for an aggregate purchase price of $49.8. On April 6, 2022, Roper acquired the issued and outstanding shares of Common Cents Systems, Inc. (“ApolloLIMS”) for a purchase price of $25.5, net of cash acquired and debt assumed. ApolloLIMS is a provider of laboratory information management systems in the toxicology and public health markets. Both of these acquisitions have been integrated into our CliniSys business and their results are reported in the Application Software reportable segment. On June 27, 2022, Roper acquired the issued and outstanding shares of MGA Systems Holdings, Inc., (“MGA”) for a purchase price of $180.1, net of cash acquired and debt assumed. MGA is a leading provider of purpose-built insurance software for managing general agents. This acquisition has been integrated into our Vertafore business and its results are reported in the Application Software reportable segment. On August 19, 2022, Roper acquired substantially all of the assets of viDesktop Inc., (“viGlobal”) for a purchase price of $286.5, net of cash acquired and debt assumed. viGlobal is a leading provider of end-to-end human resources management software used for recruiting and integration, productivity management, resource allocation, performance management, learning and development, and diversity and inclusion to primarily law firms. This acquisition will be operated by and integrated with our Aderant business and its results are reported in the Application Software reportable segment. During the third quarter of 2022, Roper also completed two business acquisitions, TIP Technologies Inc. and Common Sense Solutions Inc., for an aggregate purchase price of $36.9 which will be operated by and integrated with our Deltek business and their results are reported in the Application Software reportable segment. The Company recorded $361.5 in goodwill, $9.5 assigned to trade names that are not subject to amortization and $239.3 of other identifiable intangibles in connection with these acquisitions. The amortizable intangible assets include customer relationships of $223.4 (18.2 year weighted average useful life) and technology of $15.9 (4.9 year weighted average useful life). The results of operations of the acquired businesses are included in Roper’s Condensed Consolidated Financial Statements since the date of acquisition. Pro forma results of operations and the revenue and net income subsequent to the acquisition date has not been presented because the effects of the acquisitions were not material to our financial results. On October 4, 2022, Roper completed its previously announced acquisition of Frontline Technologies Parent, LLC, a Delaware limited liability company and the parent company of Frontline Technologies (“Frontline Education”), pursuant to an Equity Purchase and Merger Agreement dated as of August 30, 2022 for a purchase price of $3,738, net of cash acquired and debt assumed. Frontline Education is a leading provider of school administration software, connecting solutions for human capital management, student and special programs, and business operations with powerful analytics to empower educators. Frontline Education will be reported in the Application Software reportable segment beginning in the fourth quarter of 2022. Roper funded the transaction using its cash on hand and revolving credit facility. Disposition On March 17, 2021, Roper completed the sale of a minority investment in Sedaru, Inc. for $27.1. The pretax gain on the sale was $27.1, which is reported in “Other income (expense), net” in the Condensed Consolidated Statements of Earnings.

Discontinued Operations

Discontinued Operations	9 Months Ended
	Sep. 30, 2022
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	Discontinued Operations The Company concluded that both the 2021 Divestitures and the sale of the Industrial Businesses each represented a strategic shift that will have a major effect on the Company’s operations and financial results. These transactions will greatly reduce the cyclicality and asset intensity of the Company. In addition, the Company will have an improved recurring revenue and higher margin profile. Accordingly, the financial results related to the 2021 Divestitures and Industrial Businesses are presented in the Condensed Consolidated Financial Statements as discontinued operations for all periods presented. Current and non-current assets and liabilities of the 2021 Divestitures and Industrial Businesses are presented in the Condensed Consolidated Balance Sheets as assets and liabilities of discontinued operations classified as held for sale for both periods presented, as applicable. 2021 Divestitures - During 2021, the Company signed definitive agreements to divest our TransCore, Zetec and CIVCO Radiotherapy businesses as described below. • On March 17, 2022, Roper closed on the divestiture of our TransCore business to an affiliate of Singapore Technologies Engineering Ltd., for approximately $2,680.0 in cash. The sale resulted in a pretax gain of $2,073.7 and income tax expense of $550.5, which are reported within “Gain/(loss) on disposition of discontinued operations, net of tax” in the Condensed Consolidated Statements of Earnings. TransCore was previously included in the historical Network Software & Systems reportable segment. • On January 5, 2022, Roper closed on the divestiture of our Zetec business to Eddyfi NDT Inc. for approximately $350.0 in cash. The sale resulted in a pretax gain of $255.3 and income tax expense of $60.9, which are reported within “Gain/(loss) on disposition of discontinued operations, net of tax” in the Condensed Consolidated Statements of Earnings. Zetec was previously included in the historical Process Technologies reportable segment. • On November 1, 2021, Roper closed the divestiture of our CIVCO Radiotherapy business to an affiliate of Blue Wolf Capital Partners LLC. CIVCO Radiotherapy business was previously included in the historical Measurement & Analytical Solutions reportable segment. The following table summarizes the major classes of assets and liabilities related to the discontinued operations of the TransCore, Zetec and CIVCO Radiotherapy businesses, as reported in the Condensed Consolidated Balance Sheets at December 31, 2021: December 31, 2021 Accounts receivable, net $ 74.7 Inventories, net 47.8 Unbilled receivables 158.2 Goodwill 405.5 Other intangible assets, net 31.0 Other current assets 71.4 Current assets held for sale $ 788.6 Accounts payable $ 40.3 Accrued compensation 27.0 Deferred taxes 29.5 Other current liabilities 62.3 Current liabilities held for sale $ 159.1 The following table summarizes the major classes of revenue and expenses constituting net income from discontinued operations attributable to the TransCore, Zetec and CIVCO Radiotherapy businesses: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Net revenues $ — $ 158.6 $ 100.4 $ 472.1 Cost of sales — 91.3 71.2 280.2 Gross profit — 67.3 29.2 191.9 Selling, general and administrative expenses (1) — 25.6 19.9 87.8 Income from operations — 41.7 9.3 104.1 Other income (expense), net — 0.2 0.1 1.4 Earnings before income taxes (2) — 41.9 9.4 105.5 Income taxes — 12.2 (6.2) 23.4 Earnings from discontinued operations, net of tax — 29.7 15.6 82.1 Gain on disposition of discontinued operations, net of tax 1.1 — 1,707.7 — Net earnings from discontinued operations $ 1.1 $ 29.7 $ 1,723.3 $ 82.1 (1) Includes stock-based compensation expense of $1.4 for the three months ended September 30, 2021, and $0.9 and $3.2 for the nine months ended September 30, 2022 and 2021, respectively. Stock-based compensation for discontinued operations was previously reported as a component of unallocated corporate general and administrative expenses. In connection with the sale of TransCore and Zetec, we recognized expense of $4.5 associated with accelerated vesting of share-based awards for the nine months ended September 30, 2022. The charges associated with accelerated vesting were recorded as a component of “Gain on disposition of discontinued operations, net of tax” within the Condensed Consolidated Statements of Earnings. (2) During the three and nine months ended September 30, 2022, there was no depreciation of property, plant and equipment or amortization of intangible assets given the asset classification as held for sale during the period. During the three and nine months ended September 30, 2021 depreciation and amortization was $1.7 and $5.2, respectively. Industrial Businesses - On May 29, 2022, Roper entered into a definitive agreement to sell a 51% majority stake in the Industrial Businesses to affiliates of Clayton, Dubilier & Rice, LLC (“CD&R”). Roper will receive total upfront, pre-tax cash proceeds of approximately $2,600 while retaining a 49% minority equity interest in a new standalone entity, RIPIC Equity LLC (“RIPIC TopCo”). Roper will receive a distribution of $1,775 from RIPIC TopCo, which will be funded by third-party indebtedness of $1,950 on RIPIC TopCo, and $829 of purchase price proceeds related to the 51% majority stake obtained by CD&R in RIPIC TopCo. In addition, Roper shall be entitled to an earnout payment from CD&R of up to $51 million if RIPIC TopCo exceeds a threshold level of earnings before interest, taxes, depreciation and amortization for the year ended December 31, 2022. Roper will also be required to make quarterly payments, directly or indirectly to CD&R, either (i) in cash, with total payments initially equaling approximately $29 million per year on a pre-tax basis, or (ii) in kind through the transfer of Roper’s equity interests in RIPIC TopCo to CD&R, initially representing approximately a 1.7% ownership interest of RIPIC TopCo on an annual basis. The transaction, which is expected to close in the fourth quarter of 2022, is subject to customary closing conditions, including regulatory approvals. The following table summarizes the major classes of assets and liabilities related to the discontinued operations of the Industrial Businesses, as reported in the Condensed Consolidated Balance Sheets: September 30, 2022 (1) December 31, Accounts receivable, net $ 163.0 $ 151.8 Inventories, net 146.2 106.9 Deferred taxes 45.3 — Goodwill 569.0 — Other intangible assets, net 69.3 — Other current assets 101.9 30.7 Current assets held for sale $ 1,094.7 $ 289.4 Goodwill — 618.2 Other intangible assets, net — 79.4 Deferred taxes — 51.1 Other assets — 56.2 Assets held for sale $ — $ 804.9 Accounts payable $ 64.7 $ 52.5 Accrued compensation 39.0 47.9 Deferred revenue 19.7 23.9 Deferred taxes 12.7 — Income taxes payable 10.1 14.7 Operating lease liabilities 34.4 — Other current liabilities 39.8 42.0 Current liabilities held for sale $ 220.4 $ 181.0 Deferred taxes $ — $ 13.3 Noncurrent operating lease liabilities — 24.1 Other liabilities — 12.0 Liabilities held for sale $ — $ 49.4 (1) All assets and liabilities held for sale were classified as current as it is probable the sale of the Industrial Businesses will be completed within one year. The following table summarizes the major classes of revenue and expenses constituting net income from discontinued operations attributable to the Industrial Businesses: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Net revenues $ 269.0 $ 230.7 $ 770.9 $ 688.3 Cost of sales 126.3 106.3 361.6 316.1 Gross profit 142.7 124.4 409.3 372.2 Selling, general and administrative expenses (1) 78.9 67.8 213.4 193.3 Income from operations 63.8 56.6 195.9 178.9 Other income (expense), net 2.5 0.4 3.6 (0.1) Earnings before income taxes (2) 66.3 57.0 199.5 178.8 Income taxes 17.3 8.0 44.8 34.3 Earnings from discontinued operations, net of tax $ 49.0 $ 49.0 $ 154.7 $ 144.5 (1) Certain costs previously reported as a component of unallocated corporate general and administrative expenses have been reclassified to discontinued operations. These costs primarily include stock-based compensation expense of $2.6 and $3.4 for the three months ended September 30, 2022 and 2021, respectively, and $8.1 and $9.4 for the nine months ended September 30, 2022 and 2021, respectively.

Stock Based Compensation

Stock Based Compensation	9 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Stock Based Compensation	Stock Based Compensation The Roper Technologies, Inc. 2021 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, directors and consultants. The following table provides information regarding the Company’s stock-based compensation expense: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Stock-based compensation $ 29.6 $ 32.0 $ 90.8 $ 93.5 Tax effect recognized in net earnings from continuing operations 6.2 6.7 19.1 19.6 Stock Options - In the nine months ended September 30, 2022, 0.379 options were granted with a weighted average fair value of $115.91 per option. During the same period in 2021, 0.513 options were granted with a weighted average fair value of $95.04 per option. All options were issued with an exercise price equal to the closing price of Roper’s common stock on the date of grant, as required by the Company’s stock-based compensation plans. 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, 2022 2021 Risk-free interest rate (%) 2.09 0.94 Expected option life (years) 5.63 5.61 Expected volatility (%) 24.54 25.15 Expected dividend yield (%) 0.55 0.56 Cash received from option exercises for the nine months ended September 30, 2022 and 2021 was $80.8 and $81.8, respectively. Restricted Stock Grants - During the nine months ended September 30, 2022, the Company granted 0.239 shares with a weighted average grant date fair value of $450.49 per restricted share. During the same period in 2021, the Company granted 0.225 shares with a weighted average grant date fair value of $408.07 per restricted share. All grants were issued at grant date fair value. During the nine months ended September 30, 2022, 0.163 restricted shares vested with a weighted average grant date fair value of $345.79 per restricted share and a weighted average vest date fair value of $449.67 per restricted share. Employee Stock Purchase Plan - Roper’s employee stock purchase plan (“ESPP”) allows employees in the U.S. and Canada to designate up to 10% of eligible earnings to purchase Roper’s common stock at a 10% discount on the lower of the closing price of the stock on the first and last day of each quarterly offering period. Common stock sold to employees pursuant to the ESPP may be either treasury stock, stock purchased on the open market, or newly issued shares. During the nine months ended September 30, 2022 and 2021, participants in the ESPP purchased 0.031 and 0.031 shares of Roper’s common stock for total consideration of $11.6 and $11.8, respectively. All shares were purchased from Roper’s treasury shares.

Inventories

Inventories	9 Months Ended
	Sep. 30, 2022
Inventory Disclosure [Abstract]
Inventories	Inventories The components of inventory were as follows: September 30, December 31, Raw materials and supplies $ 52.9 $ 36.4 Work in process 25.3 19.1 Finished products 29.6 18.4 Inventory reserves (6.8) (4.7) Inventories, net $ 101.0 $ 69.2

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets The carrying value of goodwill by segment was as follows: Application Software Network Software Technology Enabled Products Total Balances at December 31, 2021 $ 8,889.3 $ 3,655.3 $ 931.7 $ 13,476.3 Additions 361.5 — — 361.5 Other (0.2) (0.7) — (0.9) Currency translation adjustments (59.6) (102.8) (1.7) (164.1) Balances at September 30, 2022 $ 9,191.0 $ 3,551.8 $ 930.0 $ 13,672.8 Other relates primarily to purchase accounting adjustments for acquisitions. Other intangible assets were comprised of: Cost Accumulated Net book Assets subject to amortization: Customer related intangibles $ 7,379.6 $ (1,989.8) $ 5,389.8 Unpatented technology 886.4 (414.6) 471.8 Software 149.5 (122.4) 27.1 Patents and other protective rights 8.5 (1.0) 7.5 Trade names 12.1 (5.6) 6.5 Assets not subject to amortization: Trade names 606.4 — 606.4 Balances at December 31, 2021 $ 9,042.5 $ (2,533.4) $ 6,509.1 Assets subject to amortization: Customer related intangibles $ 7,500.0 $ (2,289.9) $ 5,210.1 Unpatented technology 872.7 (475.3) 397.4 Software 148.5 (130.5) 18.0 Patents and other protective rights 10.3 (1.2) 9.1 Trade names 15.8 (8.4) 7.4 Assets not subject to amortization: Trade names 601.5 — 601.5 Balances at September 30, 2022 $ 9,148.8 $ (2,905.3) $ 6,243.5 Amortization expense of other intangible assets was $429.7 and $424.3 during the nine months ended September 30, 2022 and 2021, 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 2022. The Company will perform the annual analysis during the fourth quarter of 2022.

Debt

Debt	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Debt	Debt On June 23, 2022, the Company elected to exercise its optional redemption rights to redeem all of its outstanding 3.125% Notes due 2022 (the “Notes”) in the original aggregate principal amount of $500.0, and Computershare Trust Company, N.A., as successor to Wells Fargo Bank, National Association, as trustee under the indenture governing the Notes (the “Indenture”), issued redemption notices to registered holders of the Notes. The date fixed for the redemption of the Notes was August 15, 2022 (the “Redemption Date”). The Notes were redeemed at 100% of the aggregate principal amount of the Notes, plus accrued and unpaid interest thereon to, but not including, the Redemption Date in accordance with the terms and conditions set forth in the Indenture. On August 15, 2022, $300.0 of 0.450% senior notes due 2022 were repaid at maturity using cash on hand. On July 21, 2022, the Company entered into a new five-year unsecured credit facility (the “Credit Agreement”) among Roper, the financial institutions from time to time party thereto, JPMorgan Chase Bank, N.A., as administrative agent, Bank of America, N.A. and Wells Fargo Bank, N.A., as syndication agents, and Mizuho Bank, Ltd., MUFG Bank, Ltd., PNC Bank, National Association, TD Bank, N.A., Truist Bank and U.S Bank, National Association, as documentation agents, which replaced the existing $3,000.0 unsecured credit facility, dated as of September 2, 2020, as amended. The new facility comprises a five-year $3,500.0 revolving credit facility, which includes availability of up to $150.0 for letters of credit. Loans under the facility will be available in dollars, and letters of credit will be available in dollars and other currencies to be agreed. The Company may also, subject to compliance with specified conditions, request additional term loans or revolving credit commitments in an aggregate amount not to exceed $500.0. The Company will have the right to add foreign subsidiaries as borrowers under the Credit Agreement, subject to the satisfaction of specified conditions. The Company will guarantee the payment and performance by the foreign subsidiary borrowers of their obligations under the Credit Agreement. The Company’s obligations under the Credit Agreement are not guaranteed by any of its subsidiaries. However, the Company has the right, subject to the satisfaction of certain conditions set forth in the Credit Agreement, to cause any of its wholly-owned domestic subsidiaries to become guarantors. Loans under the Credit Agreement can be borrowed as term SOFR loans or ABR Loans, at the Company’s option. Each term SOFR loan will bear interest at a rate per annum equal to the applicable Adjusted Term SOFR rate plus a spread ranging from 0.795% to 1.300%, as determined by the Company’s senior unsecured long-term debt rating at such time. Based on the Company’s current rating, the spread for SOFR loans would be 0.910%. Each ABR Loan will bear interest at a rate per annum equal to the Alternate Base Rate plus a spread ranging from 0.000% to 0.300%, as determined by the Company’s senior unsecured long-term debt rating at such time. Based on the Company’s current rating, the spread for ABR Loans would be 0.000%. Outstanding letters of credit issued under the Credit Agreement will be charged a quarterly fee depending on the Company’s senior unsecured long-term debt rating. Based on the Company’s current rating, the quarterly fee would be payable at a rate of 0.910% per annum, plus a fronting fee of 0.125% per annum on the undrawn and unexpired amount of all letters of credit. Additionally, the Company will pay a quarterly facility fee on the used and unused portions of the revolving credit facility depending on the Company’s senior unsecured long-term debt rating. Based on the Company’s current rating, the quarterly fee would accrue at a rate of 0.090% per annum. Amounts outstanding under the Credit Agreement may be accelerated upon the occurrence of customary events of default. The Credit Agreement requires the Company to maintain a Total Debt to Total Capital Ratio of 0.65 to 1.00 or less. Borrowings under the Credit Agreement are prepayable at Roper’s option at any time in whole or in part without premium or penalty.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments Roper’s debt at September 30, 2022 included $6,700 of fixed-rate senior notes with the following fair values: $700 3.650% senior notes due 2023 691 $500 2.350% senior notes due 2024 476 $300 3.850% senior notes due 2025 287 $700 1.000% senior notes due 2025 621 $700 3.800% senior notes due 2026 662 $700 1.400% senior notes due 2027 579 $800 4.200% senior notes due 2028 748 $700 2.950% senior notes due 2029 590 $600 2.000% senior notes due 2030 461 $1,000 1.750% senior notes due 2031 740 The fair values of the senior notes are based on the trading prices of each series of notes, which the Company has determined to be Level 2 in the FASB fair value hierarchy.

Contingencies

Contingencies	9 Months Ended
	Sep. 30, 2022
Loss Contingency [Abstract]
Contingencies	ContingenciesRoper, in the ordinary course of business, is party to various pending or threatened legal actions, including product liability, intellectual property, data privacy and employment practices that, in general, are of a nature consistent with those over the past several years. After analyzing the Company’s contingent liabilities on a gross basis and, based upon past experience with resolution of such legal claims and the availability and limits of the primary, excess, and umbrella liability insurance coverages with respect to pending claims, management believes that adequate provision has been made to cover any potential liability not covered by insurance, and that the ultimate liability, if any, arising from these actions should not have a material adverse effect on Roper’s consolidated financial position, results of operations or cash flows. However, no assurances can be given in this regard. Roper’s subsidiary, Vertafore, Inc., was named in three putative class actions, two in the U.S. District Court for the Southern District of Texas (Allen, et al. v. Vertafore, Inc., Case 4:20-cv-4139, filed December 4, 2020) and Masciotra, et al. v. Vertafore, Inc., (originally filed on December 8, 2020 as Case 1:20-cv-03603 in the U.S. District Court for the District of Colorado and subsequently transferred), and one in the U.S. District Court for the Northern District of Texas (Mulvey, et al. v. Vertafore, Inc., Case 3:21-cv-00213-E, filed January 31, 2021). In July 2021, the court granted Vertafore’s motion to dismiss the Allen Case. In March 2022, the U.S. Fifth Circuit Court of Appeals affirmed the lower court’s dismissal of the Allen case, and in September 2022 the U.S. Supreme Court declined to hear plaintiffs’ appeal, effectively concluding the litigation. In July 2021, the plaintiff in the Masciotra case voluntarily dismissed his action without prejudice. In June 2022, Vertafore filed a motion to dismiss the Mulvey case on similar grounds as the dismissal of the Allen case. The Allen case purported and the Mulvey case purports to represent approximately 27.7 million individuals who held Texas driver’s licenses prior to February 2019. In November 2020, Vertafore announced that as a result of human error, three data files were inadvertently stored in an unsecured external storage service that appears to have been accessed without authorization. The files, which included driver information for licenses issued before February 2019, contained Texas driver license numbers, as well as names, dates of birth, addresses and vehicle registration histories. The files did not contain any Social Security numbers or financial account information. Like the Allen case, which is concluded, the Mulvey case seeks recovery under the Driver’s Privacy Protection Act, 18 U.S.C. § 2721. In addition, Roper was advised that the Texas Attorney General is investigating the data event. Roper’s subsidiary, Verathon, Inc. (“Verathon”), is defending a patent infringement action pending in the United States District Court for the Western District of Washington (Berall v. Verathon, Inc., Case No. 2:2021mc00043). Plaintiff claims that video laryngoscopes and certain accessories sold by Verathon from approximately 2006 through 2016 infringe U.S. Patent 5,827,178 (the “‘178 Patent”). The complaint seeks an unspecified amount of damages, enhanced damages, attorneys’ fees, costs, and pre- and post-judgment interest. The allegations in the complaint are not covered by insurance. Verathon contends that the products at issue do not infringe the ‘178 Patent and that the ‘178 Patent is invalid. Verathon is vigorously defending the matter. Trial is currently scheduled for 2023. Roper or our subsidiaries have been named defendants along with numerous industrial companies in asbestos-related litigation claims in certain U.S. states. To date, no significant resources have been required by Roper to respond to asbestos claims. In the first quarter of 2022, Roper completed a transaction in which it transferred the remainder of our exposure for asbestos claims to a third party. In connection with this transaction, Roper incurred a one-time charge of $4.1, which is recorded as a component of “Other income (expense), net” within the Condensed Consolidated Statements of Earnings for the nine months ended September 30, 2022.

Business Segments

Business Segments	9 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
Business Segments	Business Segments The following table presents selected financial information by reportable segment: Three months ended September 30, Nine months ended September 30, 2022 2021 Change % 2022 2021 Change % Net revenues: Application Software $ 644.0 $ 600.2 7.3 % $ 1,899.7 $ 1,761.2 7.9 % Network Software 346.6 316.0 9.7 % 1,028.0 901.3 14.1 % Technology Enabled Products 359.7 315.9 13.9 % 1,013.2 914.7 10.8 % Total $ 1,350.3 $ 1,232.1 9.6 % $ 3,940.9 $ 3,577.2 10.2 % Gross profit: Application Software $ 440.2 $ 418.5 5.2 % $ 1,306.5 $ 1,223.0 6.8 % Network Software 293.9 267.5 9.9 % 867.9 757.1 14.6 % Technology Enabled Products 207.7 185.7 11.8 % 576.1 547.1 5.3 % Total $ 941.8 $ 871.7 8.0 % $ 2,750.5 $ 2,527.2 8.8 % Operating profit*: Application Software $ 173.8 $ 164.2 5.8 % $ 511.4 $ 471.2 8.5 % Network Software 148.1 126.5 17.1 % 422.0 343.3 22.9 % Technology Enabled Products 126.5 104.1 21.5 % 337.6 312.0 8.2 % Total $ 448.4 $ 394.8 13.6 % $ 1,271.0 $ 1,126.5 12.8 % Long-lived assets: Application Software $ 145.1 $ 129.8 11.8 % Network Software 27.6 25.0 10.4 % Technology Enabled Products 26.9 26.2 2.7 % Total $ 199.6 $ 181.0 10.3 % *Segment operating profit is before unallocated corporate general and administrative expenses. These expenses were $55.2 and $47.9 for the three months ended September 30, 2022 and 2021, respectively, and $159.0 and $145.8 for the nine months ended September 30, 2022 and 2021, respectively.

Revenues from Contracts

Revenues from Contracts	9 Months Ended
	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenues from Contracts	Revenues from Contracts Disaggregated Revenue - We disaggregate our revenues by reportable segment into four categories: (i) recurring revenue comprised of SaaS licenses and software maintenance; (ii) reoccurring revenue comprised of transactional and volume-based fees related to software licenses; (iii) non-recurring revenue comprised of term and perpetual software licenses, professional services associated with software products and hardware sold with our software licenses; and (iv) product revenue. See details in the table below. Three months ended September 30, 2022 Three months ended September 30, 2021 Application Software Network Software Technology Enabled Products Total Application Software Network Software Technology Enabled Products Total Revenue Stream Software related Recurring $ 471.1 $ 247.5 $ 3.2 $ 721.8 $ 431.3 $ 213.4 $ 2.1 $ 646.8 Reoccurring 30.0 62.0 — 92.0 28.9 68.4 — 97.3 Non-recurring 142.9 37.1 0.3 180.3 140.0 34.2 0.1 174.3 Total Software Revenues 644.0 346.6 3.5 994.1 600.2 316.0 2.2 918.4 Product Revenue — — 356.2 356.2 — — 313.7 313.7 Total Revenue $ 644.0 $ 346.6 $ 359.7 $ 1,350.3 $ 600.2 $ 316.0 $ 315.9 $ 1,232.1 Nine months ended September 30, 2022 Nine months ended September 30, 2021 Application Software Network Software Technology Enabled Products Total Application Software Network Software Technology Enabled Products Total Revenue Stream Software related Recurring $ 1,390.5 $ 729.2 $ 8.6 $ 2,128.3 $ 1,272.4 $ 612.8 $ 5.5 $ 1,890.7 Reoccurring 90.3 184.5 — 274.8 82.5 186.6 — 269.1 Non-recurring 418.9 114.3 0.9 534.1 406.3 101.9 0.5 508.7 Total Software Revenues 1,899.7 1,028.0 9.5 2,937.2 1,761.2 901.3 6.0 2,668.5 Product Revenue — — 1,003.7 1,003.7 — — 908.7 908.7 Total Revenue $ 1,899.7 $ 1,028.0 $ 1,013.2 $ 3,940.9 $ 1,761.2 $ 901.3 $ 914.7 $ 3,577.2 Remaining performance obligations - Remaining performance obligations represent the transaction price of firm orders for which work has not been performed and excludes unexercised contract options. As of September 30, 2022, the aggregate amount of the transaction price allocated to remaining performance obligations was $3,621.1. We expect to recognize revenue of $2,420.9, or approximately 67% of our remaining performance obligations over the next 12 months (“Backlog”), with the remainder to be recognized thereafter. Contract balances Balance Sheet Account September 30, 2022 December 31, 2021 Change Unbilled receivables $ 98.8 $ 81.9 $ 16.9 Deferred revenue - current (1,048.8) (1,106.3) 57.5 Deferred revenue - non-current (1) (89.0) (69.9) (19.1) Net contract assets/(liabilities) $ (1,039.0) $ (1,094.3) $ 55.3 (1) The non-current portion of deferred revenue is included in “Other liabilities” in our Condensed Consolidated Balance Sheets. The change in our net contract assets/(liabilities) from December 31, 2021 to September 30, 2022 was due primarily to the timing of payments and invoicing relating to Software-as-a-Service (“SaaS”) and post contract support (“PCS”) renewals, and the increase in unbilled receivables due to the timing of invoicing primarily related to software milestone billings associated with multi-year term license renewals and software implementations. Most of the Company’s project-based contracts where the input method of revenue recognition is utilized are billed as work progresses in accordance with the contract terms and conditions, either at periodic intervals or upon achievement of certain milestones. Often this results in unbilled receivables where billing occurs after revenue recognition. The Company records deferred revenue when cash payments are received or due in advance of the Company’s performance relating primarily to SaaS and PCS renewals. Revenue recognized from the deferred revenue balance on December 31, 2021 and 2020 was $181.5 and $153.9 for the three months ended September 30, 2022 and 2021, respectively, and $958.2 and $858.3 for the nine months ended September 30, 2022 and 2021, respectively. In order to determine revenues recognized in the period, we allocate revenue to the individual deferred revenue balance outstanding at the beginning of the year until the revenue exceeds that balance. The current and non-current portions of deferred commissions are included in “Other current assets” and “Other assets,” respectively, in our Condensed Consolidated Balance Sheets. At September 30, 2022 and December 31, 2021, we had $59.8 and $56.7 of total deferred commissions, respectively.

Recent Accounting Pronounceme_2

Recent Accounting Pronouncements (Policies)	9 Months Ended
	Sep. 30, 2022
Accounting Standards Update and Change in Accounting Principle [Abstract]
Recent Accounting Pronouncements	Recent Accounting PronouncementsThe Financial Accounting Standards Board (“FASB”) establishes changes to accounting principles under GAAP in the form of accounting standards updates (“ASUs”) to the Accounting Standards Codification (“ASC”). The Company considers the applicability and impact of all ASUs. Any recent ASUs 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.

Weighted Average Shares Outst_2

Weighted Average Shares Outstanding (Tables)	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Schedule of Weighted Average Shares Outstanding	Weighted average shares outstanding are shown below: Three months ended September 30, Nine months ended September 30, 2022 2021 2022 2021 Basic shares outstanding 106.0 105.4 105.9 105.2 Effect of potential common stock: Common stock awards 0.8 1.3 0.9 1.2 Diluted shares outstanding 106.8 106.7 106.8 106.4

Discontinued Operations (Tables

Discontinued Operations (Tables)	9 Months Ended
	Sep. 30, 2022
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Discontinued Operations	The following table summarizes the major classes of assets and liabilities related to the discontinued operations of the TransCore, Zetec and CIVCO Radiotherapy businesses, as reported in the Condensed Consolidated Balance Sheets at December 31, 2021: December 31, 2021 Accounts receivable, net $ 74.7 Inventories, net 47.8 Unbilled receivables 158.2 Goodwill 405.5 Other intangible assets, net 31.0 Other current assets 71.4 Current assets held for sale $ 788.6 Accounts payable $ 40.3 Accrued compensation 27.0 Deferred taxes 29.5 Other current liabilities 62.3 Current liabilities held for sale $ 159.1 The following table summarizes the major classes of revenue and expenses constituting net income from discontinued operations attributable to the TransCore, Zetec and CIVCO Radiotherapy businesses: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Net revenues $ — $ 158.6 $ 100.4 $ 472.1 Cost of sales — 91.3 71.2 280.2 Gross profit — 67.3 29.2 191.9 Selling, general and administrative expenses (1) — 25.6 19.9 87.8 Income from operations — 41.7 9.3 104.1 Other income (expense), net — 0.2 0.1 1.4 Earnings before income taxes (2) — 41.9 9.4 105.5 Income taxes — 12.2 (6.2) 23.4 Earnings from discontinued operations, net of tax — 29.7 15.6 82.1 Gain on disposition of discontinued operations, net of tax 1.1 — 1,707.7 — Net earnings from discontinued operations $ 1.1 $ 29.7 $ 1,723.3 $ 82.1 (1) Includes stock-based compensation expense of $1.4 for the three months ended September 30, 2021, and $0.9 and $3.2 for the nine months ended September 30, 2022 and 2021, respectively. Stock-based compensation for discontinued operations was previously reported as a component of unallocated corporate general and administrative expenses. In connection with the sale of TransCore and Zetec, we recognized expense of $4.5 associated with accelerated vesting of share-based awards for the nine months ended September 30, 2022. The charges associated with accelerated vesting were recorded as a component of “Gain on disposition of discontinued operations, net of tax” within the Condensed Consolidated Statements of Earnings. (2) During the three and nine months ended September 30, 2022, there was no depreciation of property, plant and equipment or amortization of intangible assets given the asset classification as held for sale during the period. During the three and nine months ended September 30, 2021 depreciation and amortization was $1.7 and $5.2, respectively. The following table summarizes the major classes of assets and liabilities related to the discontinued operations of the Industrial Businesses, as reported in the Condensed Consolidated Balance Sheets: September 30, 2022 (1) December 31, Accounts receivable, net $ 163.0 $ 151.8 Inventories, net 146.2 106.9 Deferred taxes 45.3 — Goodwill 569.0 — Other intangible assets, net 69.3 — Other current assets 101.9 30.7 Current assets held for sale $ 1,094.7 $ 289.4 Goodwill — 618.2 Other intangible assets, net — 79.4 Deferred taxes — 51.1 Other assets — 56.2 Assets held for sale $ — $ 804.9 Accounts payable $ 64.7 $ 52.5 Accrued compensation 39.0 47.9 Deferred revenue 19.7 23.9 Deferred taxes 12.7 — Income taxes payable 10.1 14.7 Operating lease liabilities 34.4 — Other current liabilities 39.8 42.0 Current liabilities held for sale $ 220.4 $ 181.0 Deferred taxes $ — $ 13.3 Noncurrent operating lease liabilities — 24.1 Other liabilities — 12.0 Liabilities held for sale $ — $ 49.4 (1) All assets and liabilities held for sale were classified as current as it is probable the sale of the Industrial Businesses will be completed within one year. The following table summarizes the major classes of revenue and expenses constituting net income from discontinued operations attributable to the Industrial Businesses: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Net revenues $ 269.0 $ 230.7 $ 770.9 $ 688.3 Cost of sales 126.3 106.3 361.6 316.1 Gross profit 142.7 124.4 409.3 372.2 Selling, general and administrative expenses (1) 78.9 67.8 213.4 193.3 Income from operations 63.8 56.6 195.9 178.9 Other income (expense), net 2.5 0.4 3.6 (0.1) Earnings before income taxes (2) 66.3 57.0 199.5 178.8 Income taxes 17.3 8.0 44.8 34.3 Earnings from discontinued operations, net of tax $ 49.0 $ 49.0 $ 154.7 $ 144.5 (1) Certain costs previously reported as a component of unallocated corporate general and administrative expenses have been reclassified to discontinued operations. These costs primarily include stock-based compensation expense of $2.6 and $3.4 for the three months ended September 30, 2022 and 2021, respectively, and $8.1 and $9.4 for the nine months ended September 30, 2022 and 2021, respectively.

Stock Based Compensation (Table

Stock Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Schedule of Stock-Based Compensation Expense	The following table provides information regarding the Company’s stock-based compensation expense: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Stock-based compensation $ 29.6 $ 32.0 $ 90.8 $ 93.5 Tax effect recognized in net earnings from continuing operations 6.2 6.7 19.1 19.6
Schedule of Weighted Average Assumptions Used to Value Option Grants	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, 2022 2021 Risk-free interest rate (%) 2.09 0.94 Expected option life (years) 5.63 5.61 Expected volatility (%) 24.54 25.15 Expected dividend yield (%) 0.55 0.56

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2022
Inventory Disclosure [Abstract]
Schedule of Inventories	The components of inventory were as follows: September 30, December 31, Raw materials and supplies $ 52.9 $ 36.4 Work in process 25.3 19.1 Finished products 29.6 18.4 Inventory reserves (6.8) (4.7) Inventories, net $ 101.0 $ 69.2

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The carrying value of goodwill by segment was as follows: Application Software Network Software Technology Enabled Products Total Balances at December 31, 2021 $ 8,889.3 $ 3,655.3 $ 931.7 $ 13,476.3 Additions 361.5 — — 361.5 Other (0.2) (0.7) — (0.9) Currency translation adjustments (59.6) (102.8) (1.7) (164.1) Balances at September 30, 2022 $ 9,191.0 $ 3,551.8 $ 930.0 $ 13,672.8
Schedule of Other Intangible Assets - Subject to Amortization	Other intangible assets were comprised of: Cost Accumulated Net book Assets subject to amortization: Customer related intangibles $ 7,379.6 $ (1,989.8) $ 5,389.8 Unpatented technology 886.4 (414.6) 471.8 Software 149.5 (122.4) 27.1 Patents and other protective rights 8.5 (1.0) 7.5 Trade names 12.1 (5.6) 6.5 Assets not subject to amortization: Trade names 606.4 — 606.4 Balances at December 31, 2021 $ 9,042.5 $ (2,533.4) $ 6,509.1 Assets subject to amortization: Customer related intangibles $ 7,500.0 $ (2,289.9) $ 5,210.1 Unpatented technology 872.7 (475.3) 397.4 Software 148.5 (130.5) 18.0 Patents and other protective rights 10.3 (1.2) 9.1 Trade names 15.8 (8.4) 7.4 Assets not subject to amortization: Trade names 601.5 — 601.5 Balances at September 30, 2022 $ 9,148.8 $ (2,905.3) $ 6,243.5
Schedule of Other Intangible Assets - Not Subject to Amortization	Other intangible assets were comprised of: Cost Accumulated Net book Assets subject to amortization: Customer related intangibles $ 7,379.6 $ (1,989.8) $ 5,389.8 Unpatented technology 886.4 (414.6) 471.8 Software 149.5 (122.4) 27.1 Patents and other protective rights 8.5 (1.0) 7.5 Trade names 12.1 (5.6) 6.5 Assets not subject to amortization: Trade names 606.4 — 606.4 Balances at December 31, 2021 $ 9,042.5 $ (2,533.4) $ 6,509.1 Assets subject to amortization: Customer related intangibles $ 7,500.0 $ (2,289.9) $ 5,210.1 Unpatented technology 872.7 (475.3) 397.4 Software 148.5 (130.5) 18.0 Patents and other protective rights 10.3 (1.2) 9.1 Trade names 15.8 (8.4) 7.4 Assets not subject to amortization: Trade names 601.5 — 601.5 Balances at September 30, 2022 $ 9,148.8 $ (2,905.3) $ 6,243.5

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Schedule of Fixed-Rate Senior Notes, Fair Value	Roper’s debt at September 30, 2022 included $6,700 of fixed-rate senior notes with the following fair values: $700 3.650% senior notes due 2023 691 $500 2.350% senior notes due 2024 476 $300 3.850% senior notes due 2025 287 $700 1.000% senior notes due 2025 621 $700 3.800% senior notes due 2026 662 $700 1.400% senior notes due 2027 579 $800 4.200% senior notes due 2028 748 $700 2.950% senior notes due 2029 590 $600 2.000% senior notes due 2030 461 $1,000 1.750% senior notes due 2031 740

Business Segments (Tables)

Business Segments (Tables)	9 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
Schedule of Segment Reporting Information	The following table presents selected financial information by reportable segment: Three months ended September 30, Nine months ended September 30, 2022 2021 Change % 2022 2021 Change % Net revenues: Application Software $ 644.0 $ 600.2 7.3 % $ 1,899.7 $ 1,761.2 7.9 % Network Software 346.6 316.0 9.7 % 1,028.0 901.3 14.1 % Technology Enabled Products 359.7 315.9 13.9 % 1,013.2 914.7 10.8 % Total $ 1,350.3 $ 1,232.1 9.6 % $ 3,940.9 $ 3,577.2 10.2 % Gross profit: Application Software $ 440.2 $ 418.5 5.2 % $ 1,306.5 $ 1,223.0 6.8 % Network Software 293.9 267.5 9.9 % 867.9 757.1 14.6 % Technology Enabled Products 207.7 185.7 11.8 % 576.1 547.1 5.3 % Total $ 941.8 $ 871.7 8.0 % $ 2,750.5 $ 2,527.2 8.8 % Operating profit*: Application Software $ 173.8 $ 164.2 5.8 % $ 511.4 $ 471.2 8.5 % Network Software 148.1 126.5 17.1 % 422.0 343.3 22.9 % Technology Enabled Products 126.5 104.1 21.5 % 337.6 312.0 8.2 % Total $ 448.4 $ 394.8 13.6 % $ 1,271.0 $ 1,126.5 12.8 % Long-lived assets: Application Software $ 145.1 $ 129.8 11.8 % Network Software 27.6 25.0 10.4 % Technology Enabled Products 26.9 26.2 2.7 % Total $ 199.6 $ 181.0 10.3 % *Segment operating profit is before unallocated corporate general and administrative expenses. These expenses were $55.2 and $47.9 for the three months ended September 30, 2022 and 2021, respectively, and $159.0 and $145.8 for the nine months ended September 30, 2022 and 2021, respectively.

Revenues from Contracts (Tables

Revenues from Contracts (Tables)	9 Months Ended
	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	See details in the table below. Three months ended September 30, 2022 Three months ended September 30, 2021 Application Software Network Software Technology Enabled Products Total Application Software Network Software Technology Enabled Products Total Revenue Stream Software related Recurring $ 471.1 $ 247.5 $ 3.2 $ 721.8 $ 431.3 $ 213.4 $ 2.1 $ 646.8 Reoccurring 30.0 62.0 — 92.0 28.9 68.4 — 97.3 Non-recurring 142.9 37.1 0.3 180.3 140.0 34.2 0.1 174.3 Total Software Revenues 644.0 346.6 3.5 994.1 600.2 316.0 2.2 918.4 Product Revenue — — 356.2 356.2 — — 313.7 313.7 Total Revenue $ 644.0 $ 346.6 $ 359.7 $ 1,350.3 $ 600.2 $ 316.0 $ 315.9 $ 1,232.1 Nine months ended September 30, 2022 Nine months ended September 30, 2021 Application Software Network Software Technology Enabled Products Total Application Software Network Software Technology Enabled Products Total Revenue Stream Software related Recurring $ 1,390.5 $ 729.2 $ 8.6 $ 2,128.3 $ 1,272.4 $ 612.8 $ 5.5 $ 1,890.7 Reoccurring 90.3 184.5 — 274.8 82.5 186.6 — 269.1 Non-recurring 418.9 114.3 0.9 534.1 406.3 101.9 0.5 508.7 Total Software Revenues 1,899.7 1,028.0 9.5 2,937.2 1,761.2 901.3 6.0 2,668.5 Product Revenue — — 1,003.7 1,003.7 — — 908.7 908.7 Total Revenue $ 1,899.7 $ 1,028.0 $ 1,013.2 $ 3,940.9 $ 1,761.2 $ 901.3 $ 914.7 $ 3,577.2
Schedule of Contract Balances	Contract balances Balance Sheet Account September 30, 2022 December 31, 2021 Change Unbilled receivables $ 98.8 $ 81.9 $ 16.9 Deferred revenue - current (1,048.8) (1,106.3) 57.5 Deferred revenue - non-current (1) (89.0) (69.9) (19.1) Net contract assets/(liabilities) $ (1,039.0) $ (1,094.3) $ 55.3 (1) The non-current portion of deferred revenue is included in “Other liabilities” in our Condensed Consolidated Balance Sheets.

Weighted Average Shares Outst_3

Weighted Average Shares Outstanding - Schedule of Weighted Average Shares Outstanding (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Earnings Per Share [Abstract]
Basic shares outstanding (in shares)	106	105.4	105.9	105.2
Effect of potential common stock:
Common stock awards (in shares)	0.8	1.3	0.9	1.2
Diluted shares outstanding (in shares)	106.8	106.7	106.8	106.4

Weighted Average Shares Outst_4

Weighted Average Shares Outstanding - Narrative (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Earnings Per Share [Abstract]
Antidilutive stock options (in shares)	832	502	829	530

Business Acquisitions and Dis_2

Business Acquisitions and Disposition (Details) $ in Thousands							3 Months Ended	9 Months Ended
	Oct. 04, 2022 USD ($)	Aug. 19, 2022 USD ($)	Jun. 27, 2022 USD ($)	Apr. 06, 2022 USD ($)	Jan. 03, 2022 USD ($)	Mar. 17, 2021 USD ($)	Sep. 30, 2022 USD ($) business	Sep. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)
Business Acquisition [Line Items]
Goodwill							$ 13,672,800	$ 13,672,800	$ 13,476,300
Application Software
Business Acquisition [Line Items]
Goodwill							9,191,000	9,191,000	$ 8,889,300
Sedaru, Inc.
Business Acquisition [Line Items]
Proceeds from sale of equity method investments						$ 27,100
Equity method investment, realized gain (loss) on disposal						$ 27,100
Horizon Lab Systems, LLC
Business Acquisition [Line Items]
Aggregate purchase price					$ 49,800
Common Cents Systems, Inc
Business Acquisition [Line Items]
Aggregate purchase price				$ 25,500
MGA Systems Holdings, Inc
Business Acquisition [Line Items]
Aggregate purchase price			$ 180,100
viDesktop Inc | Application Software
Business Acquisition [Line Items]
Aggregate purchase price		$ 286,500
TIP Technologies Inc and Common Sense Solutions Inc | Application Software
Business Acquisition [Line Items]
Aggregate purchase price							$ 36,900
Number of business acquisitions | business							2
Horizon Lab Systems, LLC , Common Cents Systems, Inc and MGA Systems Holdings, Inc
Business Acquisition [Line Items]
Goodwill							$ 361,500	361,500
Other identifiable intangibles							239,300	239,300
Horizon Lab Systems, LLC , Common Cents Systems, Inc and MGA Systems Holdings, Inc | Trade names
Business Acquisition [Line Items]
Intangible assets acquired, not subject to amortization							9,500	9,500
Horizon Lab Systems, LLC , Common Cents Systems, Inc and MGA Systems Holdings, Inc | Customer related intangibles
Business Acquisition [Line Items]
Other identifiable intangibles							223,400	$ 223,400
Weighted average useful life of finite-lived intangible assets (in years)								18 years 2 months 12 days
Horizon Lab Systems, LLC , Common Cents Systems, Inc and MGA Systems Holdings, Inc | Technology
Business Acquisition [Line Items]
Other identifiable intangibles							$ 15,900	$ 15,900
Weighted average useful life of finite-lived intangible assets (in years)								4 years 10 months 24 days
Frontline Technologies Parent, LLC | Subsequent Event
Business Acquisition [Line Items]
Aggregate purchase price	$ 3,738

Discontinued Operations - Narra

Discontinued Operations - Narrative (Details) - USD ($)			3 Months Ended		9 Months Ended		12 Months Ended
	Mar. 17, 2022	Jan. 05, 2022	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2022	May 29, 2022
Held-for-sale or Disposed of by Sale | Industrial Businesses
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration received from disposal			$ 1,775,000		$ 1,775,000
Pretax gain on disposition of business			66,300,000	$ 57,000,000	199,500,000	$ 178,800,000
Income tax expense			17,300,000	$ 8,000,000	44,800,000	$ 34,300,000
Ownership interest divested, percent								51%
Upfront, pre-tax cash proceeds			2,600,000		$ 2,600,000
Retaining minority interest					49%
Indebtedness third-party			$ 1,950		$ 1,950
Purchase price proceeds					$ 829
Majority stake obtained			51%		51%
Payments initially equaling			$ 29,000,000		$ 29,000,000
Held-for-sale or Disposed of by Sale | Industrial Businesses | RIPIC TopCo
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ownership percentage by parent			1.70%		1.70%
Held-for-sale or Disposed of by Sale | Industrial Businesses | Forecast
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Earnout consideration							$ 51,000,000
Singapore Technologies Engineering Ltd Affiliate | Disposed of by Sale | TransCore
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration received from disposal	$ 2,680,000,000
Pretax gain on disposition of business	2,073,700,000
Income tax expense	$ 550,500,000
Eddyfi NDT Inc | Disposed of by Sale | Zetec
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration received from disposal		$ 350,000,000
Pretax gain on disposition of business		255,300,000
Income tax expense		$ 60,900,000

Discontinued Operations - Sched

Discontinued Operations - Schedule of Assets and Liabilities From Discontinued Operations (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Disposal Group, Including Discontinued Operation, Assets [Abstract]
Current assets held for sale	$ 1,094.7	$ 1,078
Assets held for sale	0	804.9
Disposal Group, Including Discontinued Operation, Liabilities [Abstract]
Current liabilities held for sale	220.4	340.1
Held-for-sale or Disposed of by Sale | TransCore Holdings Inc, Zetec and Civco Radiotherapy
Disposal Group, Including Discontinued Operation, Assets [Abstract]
Accounts receivable, net		74.7
Inventories, net		47.8
Unbilled receivables		158.2
Goodwill		405.5
Other intangible assets, net		31
Other current assets		71.4
Current assets held for sale		788.6
Disposal Group, Including Discontinued Operation, Liabilities [Abstract]
Accounts payable		40.3
Accrued compensation		27
Deferred taxes		29.5
Other current liabilities		62.3
Current liabilities held for sale		159.1
Held-for-sale or Disposed of by Sale | Industrial Businesses
Disposal Group, Including Discontinued Operation, Assets [Abstract]
Accounts receivable, net	163	151.8
Inventories, net	146.2	106.9
Deferred taxes	45.3	0
Goodwill	569	0
Other intangible assets, net	69.3	0
Other current assets	101.9	30.7
Current assets held for sale	1,094.7	289.4
Goodwill	0	618.2
Other intangible assets, net	0	79.4
Deferred taxes	0	51.1
Other assets	0	56.2
Assets held for sale	0	804.9
Disposal Group, Including Discontinued Operation, Liabilities [Abstract]
Accounts payable	64.7	52.5
Accrued compensation	39	47.9
Deferred revenue	19.7	23.9
Deferred taxes	12.7	0
Income taxes payable	10.1	14.7
Operating lease liabilities	34.4	0
Other current liabilities	39.8	42
Current liabilities held for sale	220.4	181
Deferred taxes	0	13.3
Noncurrent operating lease liabilities	0	24.1
Other liabilities	0	12
Liabilities held for sale	$ 0	$ 49.4

Discontinued Operations - Sch_2

Discontinued Operations - Schedule of Amounts Included in Discontinued Operations (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Earnings from discontinued operations, net of tax	$ 49,000,000	$ 78,700,000	$ 170,300,000	$ 226,600,000
Gain on disposition of discontinued operations, net of tax	1,100,000	0	1,707,700,000	0
Net earnings from discontinued operations	50,100,000	78,700,000	1,878,000,000	226,600,000
Held-for-sale or Disposed of by Sale | TransCore Holdings Inc, Zetec and Civco Radiotherapy
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net revenues	0	158,600,000	100,400,000	472,100,000
Cost of sales	0	91,300,000	71,200,000	280,200,000
Gross profit	0	67,300,000	29,200,000	191,900,000
Selling, general and administrative expenses	0	25,600,000	19,900,000	87,800,000
Income from operations	0	41,700,000	9,300,000	104,100,000
Other income (expense), net	0	200,000	100,000	1,400,000
Earnings before income taxes	0	41,900,000	9,400,000	105,500,000
Income taxes	0	12,200,000	(6,200,000)	23,400,000
Earnings from discontinued operations, net of tax	0	29,700,000	15,600,000	82,100,000
Gain on disposition of discontinued operations, net of tax	1,100,000	0	1,707,700,000	0
Net earnings from discontinued operations	1,100,000	29,700,000	1,723,300,000	82,100,000
Stock-based compensation expense			4,500,000
Depreciation and amortization	0	1,700,000		5,200,000
Held-for-sale or Disposed of by Sale | TransCore Holdings Inc, Zetec and Civco Radiotherapy | Selling, General and Administrative Expenses
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Stock-based compensation expense		1,400,000	900,000	3,200,000
Held-for-sale or Disposed of by Sale | Industrial Businesses
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net revenues	269,000,000	230,700,000	770,900,000	688,300,000
Cost of sales	126,300,000	106,300,000	361,600,000	316,100,000
Gross profit	142,700,000	124,400,000	409,300,000	372,200,000
Selling, general and administrative expenses	78,900,000	67,800,000	213,400,000	193,300,000
Income from operations	63,800,000	56,600,000	195,900,000	178,900,000
Other income (expense), net	2,500,000	400,000	3,600,000	(100,000)
Earnings before income taxes	66,300,000	57,000,000	199,500,000	178,800,000
Income taxes	17,300,000	8,000,000	44,800,000	34,300,000
Earnings from discontinued operations, net of tax	49,000,000	49,000,000	154,700,000	144,500,000
Stock-based compensation expense	$ 2,600,000	3,400,000	8,100,000	9,400,000
Depreciation and amortization		$ 4,400,000	$ 6,400,000	$ 14,200,000

Stock Based Compensation - Stoc

Stock Based Compensation - Stock Based Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Share-Based Payment Arrangement [Abstract]
Stock-based compensation	$ 29.6	$ 32	$ 90.8	$ 93.5
Tax effect recognized in net earnings from continuing operations	$ 6.2	$ 6.7	$ 19.1	$ 19.6

Stock Based Compensation - Narr

Stock Based Compensation - Narrative (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions		9 Months Ended
	Jul. 01, 2020	Sep. 30, 2022	Sep. 30, 2021
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee stock options granted during the period (in shares)		379	513
Fair value per share (in dollars per share)		$ 115.91	$ 95.04
Cash received from exercise of options		$ 80.8	$ 81.8
Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock awards granted during period (in shares)		239	225
Weighted average fair value per share of restricted stock awards granted during the period (in dollars per share)		$ 450.49	$ 408.07
Restricted stock awards vested during period (in shares)		163
Weighted average grant date fair value per share (in dollars per share)		$ 345.79
Weighted average vest date fair value per share (in dollars per share)		$ 449.67
Employee Stock Purchase Plan
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%
Discount on the average closing price for the employee stock purchase plan	10%
Shares of stock purchased during the period by participants in the employee stock purchase plan (in shares)		31	31
Amount paid for stock purchased during the period by participants in the employee stock purchase plan		$ 11.6	$ 11.8

Stock Based Compensation - Weig

Stock Based Compensation - Weighted Average Assumptions Used to Value Option Grants (Details)	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Share-Based Payment Arrangement [Abstract]
Risk-free interest rate (%)	2.09%	0.94%
Expected option life (years)	5 years 7 months 17 days	5 years 7 months 9 days
Expected volatility (%)	24.54%	25.15%
Expected dividend yield (%)	0.55%	0.56%

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Raw materials and supplies	$ 52.9	$ 36.4
Work in process	25.3	19.1
Finished products	29.6	18.4
Inventory reserves	(6.8)	(4.7)
Inventories, net	$ 101	$ 69.2

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Goodwill (Details) $ in Millions	9 Months Ended
	Sep. 30, 2022 USD ($)
Goodwill [Roll Forward]
Balance at beginning of period	$ 13,476.3
Additions	361.5
Other	(0.9)
Currency translation adjustments	(164.1)
Balance at end of period	13,672.8
Application Software
Goodwill [Roll Forward]
Balance at beginning of period	8,889.3
Additions	361.5
Other	(0.2)
Currency translation adjustments	(59.6)
Balance at end of period	9,191
Network Software
Goodwill [Roll Forward]
Balance at beginning of period	3,655.3
Additions	0
Other	(0.7)
Currency translation adjustments	(102.8)
Balance at end of period	3,551.8
Technology Enabled Products
Goodwill [Roll Forward]
Balance at beginning of period	931.7
Additions	0
Other	0
Currency translation adjustments	(1.7)
Balance at end of period	$ 930

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Other Intangible Assets (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Accumulated amortization	$ (2,905.3)	$ (2,533.4)
Intangible assets, gross (excluding goodwill)	9,148.8	9,042.5
Intangible assets, net (excluding goodwill)	6,243.5	6,509.1
Trade names
Finite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets (excluding goodwill)	601.5	606.4
Customer related intangibles
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	7,500	7,379.6
Accumulated amortization	(2,289.9)	(1,989.8)
Finite-lived intangible assets, net	5,210.1	5,389.8
Unpatented technology
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	872.7	886.4
Accumulated amortization	(475.3)	(414.6)
Finite-lived intangible assets, net	397.4	471.8
Software
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	148.5	149.5
Accumulated amortization	(130.5)	(122.4)
Finite-lived intangible assets, net	18	27.1
Patents and other protective rights
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	10.3	8.5
Accumulated amortization	(1.2)	(1)
Finite-lived intangible assets, net	9.1	7.5
Trade names
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	15.8	12.1
Accumulated amortization	(8.4)	(5.6)
Finite-lived intangible assets, net	$ 7.4	$ 6.5

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 438.4	$ 429
Other Intangible Assets
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 429.7	$ 424.3

Debt (Details)

Debt (Details) - USD ($) $ in Millions				9 Months Ended
	Jul. 21, 2022	Jun. 23, 2022	Sep. 02, 2020	Sep. 30, 2022	Aug. 15, 2022
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Minimum
Debt Instrument [Line Items]
Basis spread on variable interest rate				0.795%
Senior unsecured, interest rate during period				0%
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Maximum
Debt Instrument [Line Items]
Basis spread on variable interest rate				1.30%
Senior unsecured, interest rate during period				0.30%
Revolving credit facility | Interest rate scenario two
Debt Instrument [Line Items]
Basis spread based on current rating				0%
Revolving credit facility | Current variable rate in effect | Interest rate scenario one
Debt Instrument [Line Items]
Basis spread based on current rating				0.91%
Revolving credit facility | JPMorgan Chase Bank, N.A.
Debt Instrument [Line Items]
Term	5 years
Maximum borrowing capacity	$ 3,500		$ 3,000
Potential increase limit	500
Fee percentage on outstanding letters of credit			0.91%
Fee percentage on undrawn amounts				0.09%
Total Debt to Total Capital Ratio, minimum required				0.65
Letters of credit | JPMorgan Chase Bank, N.A.
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 150
Fee percentage on undrawn amounts			0.125%
Senior Notes | Senior Notes Due 2022
Debt Instrument [Line Items]
Fixed interest rate (as a percent)		3.125%			0.45%
Aggregate principal amount		$ 500			$ 300
Proportion of principal redeemed (as a percent)		100%

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Schedule of Fixed-Rate Senior Notes, Fair Value (Details) - Senior Notes	Sep. 30, 2022 USD ($)
$700 3.650% senior notes due 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Face amount of debt	$ 700,000,000
Fixed interest rate (as a percent)	3.65%
$500 2.350% senior notes due 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Face amount of debt	$ 500,000,000
Fixed interest rate (as a percent)	2.35%
$300 3.850% senior notes due 2025
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Face amount of debt	$ 300,000,000
Fixed interest rate (as a percent)	3.85%
$700 1.000% senior notes due 2025
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Face amount of debt	$ 700,000,000
Fixed interest rate (as a percent)	1%
$700 3.800% senior notes due 2026
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Face amount of debt	$ 700,000,000
Fixed interest rate (as a percent)	3.80%
$700 1.400% senior notes due 2027
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Face amount of debt	$ 700,000,000
Fixed interest rate (as a percent)	1.40%
$800 4.200% senior notes due 2028
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Face amount of debt	$ 800,000,000
Fixed interest rate (as a percent)	4.20%
$700 2.950% senior notes due 2029
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Face amount of debt	$ 700,000,000
Fixed interest rate (as a percent)	2.95%
$600 2.000% senior notes due 2030
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Face amount of debt	$ 600,000,000
Fixed interest rate (as a percent)	2%
$1,000 1.750% senior notes due 2031
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Face amount of debt	$ 1,000,000,000
Fixed interest rate (as a percent)	1.75%
Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed rate senior notes carrying amount	$ 6,700,000,000
Fair Value, Inputs, Level 2 | $700 3.650% senior notes due 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	691,000,000
Fair Value, Inputs, Level 2 | $500 2.350% senior notes due 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	476,000,000
Fair Value, Inputs, Level 2 | $300 3.850% senior notes due 2025
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	287,000,000
Fair Value, Inputs, Level 2 | $700 1.000% senior notes due 2025
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	621,000,000
Fair Value, Inputs, Level 2 | $700 3.800% senior notes due 2026
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	662,000,000
Fair Value, Inputs, Level 2 | $700 1.400% senior notes due 2027
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	579,000,000
Fair Value, Inputs, Level 2 | $800 4.200% senior notes due 2028
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	748,000,000
Fair Value, Inputs, Level 2 | $700 2.950% senior notes due 2029
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	590,000,000
Fair Value, Inputs, Level 2 | $600 2.000% senior notes due 2030
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	461,000,000
Fair Value, Inputs, Level 2 | $1,000 1.750% senior notes due 2031
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	$ 740,000,000

Contingencies (Details)

Contingencies (Details) individual in Millions, $ in Millions	9 Months Ended
	Sep. 30, 2022 USD ($) individual claim
Vertafore Litigation
Loss Contingencies [Line Items]
Number of pending putative class actions	3
Number of individuals represented by class actions | individual	27.7
Allen, et al. v. Vertafore, Inc.
Loss Contingencies [Line Items]
Number of pending putative class actions	2
Mulvey, et al. v. Vertafore, Inc.
Loss Contingencies [Line Items]
Number of pending putative class actions	1
Verathon, Inc.
Loss Contingencies [Line Items]
Litigation settlement, one time charge | $	$ 4.1

Business Segments (Details)

Business Segments (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting Information [Line Items]
Net revenues:	$ 1,350.3	$ 1,232.1	$ 3,940.9	$ 3,577.2
Percent change in net revenues	9.60%		10.20%
Gross profit:	$ 941.8	871.7	$ 2,750.5	2,527.2
Percent change in gross profit	8%		8.80%
Operating profit	$ 448.4	394.8	$ 1,271	1,126.5
Percent change in operating profit	13.60%		12.80%
Long-lived assets:	$ 199.6	181	$ 199.6	181
Percent change in long-lived assets	10.30%
Corporate
Segment Reporting Information [Line Items]
Unallocated corporate general and administrative expenses	$ 55.2	47.9	159	145.8
Application Software
Segment Reporting Information [Line Items]
Net revenues:	$ 644	600.2	$ 1,899.7	1,761.2
Percent change in net revenues	7.30%		7.90%
Gross profit:	$ 440.2	418.5	$ 1,306.5	1,223
Percent change in gross profit	5.20%		6.80%
Operating profit	$ 173.8	164.2	$ 511.4	471.2
Percent change in operating profit	5.80%		8.50%
Long-lived assets:	$ 145.1	129.8	$ 145.1	129.8
Percent change in long-lived assets	11.80%
Network Software
Segment Reporting Information [Line Items]
Net revenues:	$ 346.6	316	$ 1,028	901.3
Percent change in net revenues	9.70%		14.10%
Gross profit:	$ 293.9	267.5	$ 867.9	757.1
Percent change in gross profit	9.90%		14.60%
Operating profit	$ 148.1	126.5	$ 422	343.3
Percent change in operating profit	17.10%		22.90%
Long-lived assets:	$ 27.6	25	$ 27.6	25
Percent change in long-lived assets	10.40%
Technology Enabled Products
Segment Reporting Information [Line Items]
Net revenues:	$ 359.7	315.9	$ 1,013.2	914.7
Percent change in net revenues	13.90%		10.80%
Gross profit:	$ 207.7	185.7	$ 576.1	547.1
Percent change in gross profit	11.80%		5.30%
Operating profit	$ 126.5	104.1	$ 337.6	312
Percent change in operating profit	21.50%		8.20%
Long-lived assets:	$ 26.9	$ 26.2	$ 26.9	$ 26.2
Percent change in long-lived assets	2.70%

Revenues from Contracts - Disag

Revenues from Contracts - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Disaggregation of Revenue [Line Items]
Total Revenue	$ 1,350.3	$ 1,232.1	$ 3,940.9	$ 3,577.2
Application Software
Disaggregation of Revenue [Line Items]
Total Revenue	644	600.2	1,899.7	1,761.2
Network Software
Disaggregation of Revenue [Line Items]
Total Revenue	346.6	316	1,028	901.3
Technology Enabled Products
Disaggregation of Revenue [Line Items]
Total Revenue	359.7	315.9	1,013.2	914.7
Software related
Disaggregation of Revenue [Line Items]
Total Revenue	994.1	918.4	2,937.2	2,668.5
Software related | Application Software
Disaggregation of Revenue [Line Items]
Total Revenue	644	600.2	1,899.7	1,761.2
Software related | Network Software
Disaggregation of Revenue [Line Items]
Total Revenue	346.6	316	1,028	901.3
Software related | Technology Enabled Products
Disaggregation of Revenue [Line Items]
Total Revenue	3.5	2.2	9.5	6
Recurring
Disaggregation of Revenue [Line Items]
Total Revenue	721.8	646.8	2,128.3	1,890.7
Recurring | Application Software
Disaggregation of Revenue [Line Items]
Total Revenue	471.1	431.3	1,390.5	1,272.4
Recurring | Network Software
Disaggregation of Revenue [Line Items]
Total Revenue	247.5	213.4	729.2	612.8
Recurring | Technology Enabled Products
Disaggregation of Revenue [Line Items]
Total Revenue	3.2	2.1	8.6	5.5
Reoccurring
Disaggregation of Revenue [Line Items]
Total Revenue	92	97.3	274.8	269.1
Reoccurring | Application Software
Disaggregation of Revenue [Line Items]
Total Revenue	30	28.9	90.3	82.5
Reoccurring | Network Software
Disaggregation of Revenue [Line Items]
Total Revenue	62	68.4	184.5	186.6
Reoccurring | Technology Enabled Products
Disaggregation of Revenue [Line Items]
Total Revenue	0	0	0	0
Non-recurring
Disaggregation of Revenue [Line Items]
Total Revenue	180.3	174.3	534.1	508.7
Non-recurring | Application Software
Disaggregation of Revenue [Line Items]
Total Revenue	142.9	140	418.9	406.3
Non-recurring | Network Software
Disaggregation of Revenue [Line Items]
Total Revenue	37.1	34.2	114.3	101.9
Non-recurring | Technology Enabled Products
Disaggregation of Revenue [Line Items]
Total Revenue	0.3	0.1	0.9	0.5
Product Revenue
Disaggregation of Revenue [Line Items]
Total Revenue	356.2	313.7	1,003.7	908.7
Product Revenue | Application Software
Disaggregation of Revenue [Line Items]
Total Revenue	0	0	0	0
Product Revenue | Network Software
Disaggregation of Revenue [Line Items]
Total Revenue	0	0	0	0
Product Revenue | Technology Enabled Products
Disaggregation of Revenue [Line Items]
Total Revenue	$ 356.2	$ 313.7	$ 1,003.7	$ 908.7

Revenues from Contracts - Remai

Revenues from Contracts - Remaining Performance Obligations Narrative (Details) $ in Millions	Sep. 30, 2022 USD ($)
Revenue from Contract with Customer [Abstract]
Remaining performance obligations	$ 3,621.1
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	3,621.1
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-01
Revenue from Contract with Customer [Abstract]
Remaining performance obligations	2,420.9
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 2,420.9
Remaining performance obligations, percentage	67%
Remaining performance obligations, expected timing of satisfaction	12 months

Revenues from Contracts - Contr

Revenues from Contracts - Contract Balances (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Unbilled receivables	$ 98.8	$ 81.9
Change in unbilled receivables	16.9
Deferred revenue - current	(1,048.8)	(1,106.3)
Change in deferred revenue - current	57.5
Deferred revenue - non-current	(89)	(69.9)
Change in deferred revenue - non-current	(19.1)
Net contract assets/(liabilities)	(1,039)	$ (1,094.3)
Change in net contract assets/(liabilities)	$ 55.3

Revenues from Contracts - Narra

Revenues from Contracts - Narratives (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Revenue recognized from contract liability balance	$ 181.5	$ 153.9	$ 958.2	$ 858.3
Deferred commissions	$ 59.8		$ 59.8		$ 56.7