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Stock-Based Compensation - Narrative (Details) - USD ($) shares in Thousands, $ in Millions		12 Months Ended
	Jul. 01, 2020	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Purchase price of common stock, percent of market value, not less than (as a percent)		100.00%
Stock based compensation expense		$ 123.5	$ 117.8	$ 123.0
Nonvested options granted, unrecognized compensation expense		$ 53.5
Nonvested options granted, period for recognition (in years)		1 year 10 months 9 days
Options exercised, total intrinsic value		$ 133.7	92.7	138.2
Proceeds from stock options exercised		$ 146.5	$ 110.0	$ 104.7
Nonvested shares granted (in shares)		280	271
Nonvested awards other than options granted, unrecognized compensation expense		$ 95.9
Nonvested awards other than options granted, weighted average period for recognition (in years)		1 year 8 months 23 days
Stock issued during period under employee stock purchase plan (in shares)		38	39	40
Proceeds from issuance of shares under employee stock purchase plan		$ 15.5	$ 14.3	$ 15.1
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum designated percent of eligible earnings per employee (as a percent)	10.00%
Discount percent (as a percent)	10.00%
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period (in years)		10 years
Stock based compensation expense		$ 38.0	38.1	40.4
Stock options \| Weighted Average
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)		3 years
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense		$ 83.3	$ 77.6	$ 82.7
Restricted stock \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)		1 year
Restricted stock \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)		4 years
Incentive Plan 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant (in shares)		7,499

Discontinued Operations - Schedule of Amounts Included in Discontinued Operations (Details) - USD ($)		3 Months Ended								12 Months Ended
	Nov. 22, 2022	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Earnings (loss) from discontinued operations, net of tax										$ (4,100,000)	$ 202,800,000	$ 291,400,000
Gain on disposition of discontinued operations, net of tax										19,900,000	3,356,300,000	55,900,000
Net earnings from discontinued operations		$ 11,500,000	$ 1,600,000	$ 3,900,000	$ (1,200,000)	$ 1,681,100,000	$ 50,100,000	$ 43,800,000	$ 1,784,100,000	15,800,000	3,559,100,000	347,300,000
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											100,400,000	638,000,000.0
Cost of sales											71,200,000	372,900,000
Gross profit											29,200,000	265,100,000
Selling, general and administrative expenses											19,900,000	124,000,000.0
Income from operations											9,300,000	141,100,000
Other income, net											100,000	1,500,000
Earnings before income taxes											9,400,000	142,600,000
Income taxes											(6,200,000)	28,500,000
Earnings (loss) from discontinued operations, net of tax											15,600,000	114,100,000
Gain on disposition of discontinued operations, net of tax											1,717,500,000	55,900,000
Net earnings from discontinued operations											1,733,100,000	170,000,000.0
Stock-based compensation expense											4,500,000	900,000
Depreciation and amortization											0	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											900,000	5,400,000
Held-for-sale or Disposed of by Sale \| Indicor
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net revenues										0	916,100,000	944,000,000.0
Cost of sales										0	432,100,000	434,200,000
Gross profit										0	484,000,000.0	509,800,000
Selling, general and administrative expenses										2,300,000	250,500,000	265,700,000
Impairment of intangible assets										0	0	5,100,000
Income from operations										(2,300,000)	233,500,000	239,000,000.0
Other income, net										0	(700,000)	100,000
Earnings before income taxes	$ 2,046,000,000									(2,300,000)	232,800,000	239,100,000
Income taxes	$ 407,200,000									1,800,000	45,600,000	61,800,000
Earnings (loss) from discontinued operations, net of tax										(4,100,000)	187,200,000	177,300,000
Gain on disposition of discontinued operations, net of tax										19,900,000	1,638,800,000	0
Net earnings from discontinued operations										$ 15,800,000	1,826,000,000	177,300,000
Stock-based compensation expense											10,300,000	13,100,000
Depreciation and amortization											$ 6,400,000	$ 18,200,000

Summary of Accounting Policies

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Summary of Accounting Policies

Basis of Presentation – These financial statements present consolidated information for Roper Technologies, Inc. and its subsidiaries (“Roper,” the “Company,” “we,” “our,” or “us”). All significant intercompany accounts and transactions have been eliminated. Certain prior period amounts have been reclassified to conform to current period presentation.

Nature of the Business – Roper is a diversified technology company. The Company operates market leading businesses that design and develop vertical software and technology enabled products for a variety of defensible niche markets.

Discontinued Operations – On November 22, 2022, the Company completed the divestiture of a majority 51% equity stake in its industrial businesses, including its entire historical Process Technologies reportable segment and the industrial businesses within its historical Measurement & Analytical Solutions reportable segment, to Clayton, Dubilier & Rice, LLC (“CD&R”). The businesses included in this transaction were Alpha, AMOT, CCC, Cornell, Dynisco, FTI, Hansen, Hardy, Logitech, Metrix, PAC, Roper Pump, Struers, Technolog, Uson, and Viatran (collectively “Indicor”). Following the sale of the majority stake, the Company retained a minority equity interest in Indicor. This transaction is referred to herein as the “Indicor Transaction.” See Note 10 for additional information on this minority equity interest.

During 2021, the Company signed definitive agreements to divest its TransCore, Zetec, and CIVCO Radiotherapy businesses, (“2021 Divestitures”). Roper completed the 2021 Divestitures by the end of the first quarter of 2022.

The financial results for Indicor and the 2021 Divestitures are presented as discontinued operations for all periods presented. Unless otherwise noted, discussion within these Notes to Consolidated Financial Statements relates to continuing operations. Refer to Note 3 for additional information on discontinued operations.

Recent Accounting Pronouncements – The Financial Accounting Standards Board (“FASB”) establishes changes to accounting principles under GAAP in the form of accounting standards updates (“ASUs”) to the FASB’s Accounting Standards Codification (“ASC”). The Company considers the applicability and impact of all ASUs. Any recent ASUs not listed below were assessed and either determined to be not applicable or are expected to have an immaterial impact on the Company’s results of operations, financial position, or cash flows.

Recently Adopted Accounting Pronouncements

In October 2021, the FASB issued an update to improve the accounting for acquired revenue contracts with customers in a business combination by promoting consistency in the recognition of an acquired contract liability and the subsequent revenue recognized by the acquirer. The update is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, with early adoption permitted. The Company early-adopted this update in the fourth quarter of 2021. This update did not have a material impact on the acquisitions completed in the year of adoption.

Recently Released Accounting Pronouncements

In November 2023, the FASB issued Accounting Standards Update No. 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures” (ASU 2023-07), which expands reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. This guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company is currently evaluating the potential impact of adopting this new guidance on its Consolidated Financial Statements and related disclosures.

In December 2023, the FASB issued Accounting Standards Update No. 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures” (ASU 2023-09), which expands income tax disclosure requirements, including disaggregation of rate reconciliation table categories, disaggregation of earnings before income taxes and income tax expense information, and disaggregation of income taxes paid information, among other changes. This guidance is effective for annual periods beginning after December 15, 2024. Early adoption is permitted. The Company is currently evaluating the potential impact of adopting this new guidance on its Consolidated Financial Statements and related disclosures.

Significant Accounting Policies

Cash and Cash Equivalents – Roper considers highly liquid financial instruments with remaining maturities at acquisition of three months or less to be cash equivalents. Roper had $0.4 and $432.9 of cash equivalents at December 31, 2023 and 2022, respectively.

Contingencies – Management continually assesses the probability of any adverse judgments or outcomes to its potential contingencies. Disclosure of the contingency is made if there is at least a reasonable possibility that a loss or an additional loss may have been incurred. In the assessment of contingencies as of December 31, 2023, management concluded that there were no matters for which there was a reasonable possibility of a material loss. See Note 13 for additional information.

Earnings per Share – Basic earnings per share was calculated using net earnings and the weighted average number of shares of common stock outstanding during the respective year. Diluted earnings per share was calculated using net earnings and the weighted average number of shares of common stock and potential common stock associated with stock options outstanding during the respective year.

The effects of potential common stock were determined using the treasury stock method:


	Year ended December 31,
	2023	2022	2021
Basic weighted average shares outstanding	106.6	105.9	105.3
Effect of potential common stock:
Common stock awards	0.8	0.9	1.2
Diluted weighted average shares outstanding	107.4	106.8	106.5

For the years ended December 31, 2023, 2022, and 2021, there were 0.726, 0.834, and 0.521 outstanding stock options, respectively, that were not included in the determination of diluted earnings per share because doing so would have been antidilutive.

Equity Investments – As of December 31, 2023 and 2022, the Company held a 47.3% and 49.0% minority equity interest in Indicor, respectively. This equity interest provides us with the ability to exercise significant influence, but not control, over the investee. We elected to apply the fair value option as we believe this is the most reasonable method to value this equity investment. The fair value of our equity investment in Indicor is updated on a quarterly basis and its impact is reported as a component of “Equity investments activity, net” in our Consolidated Statement of Earnings. See Note 10 for additional information on this investment.

In 2023, the Company acquired an 18.2% limited partnership minority interest in CI Ultimate Holdings, L.P., the parent entity of Certinia Inc., which provides us with the ability to exercise significant influence, but not control, over the investee. This equity investment is accounted for under the equity method of accounting whereby our proportionate share of earnings or loss associated with the investment is reported as a component of “Equity investments activity, net” in our Consolidated Statement of Earnings with a corresponding change in the balance of our equity investment. Our proportionate share of loss associated with our investment in Certinia was $5.2 for the year ended December 31, 2023. The balance of our equity investment in Certinia, reported as a component of “Equity investments” in our Consolidated Balance Sheet, was $119.8 as of December 31, 2023.

Estimates – The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities. Actual results could differ from those estimates.

Foreign Currency Translation and Transactions – Assets and liabilities of subsidiaries whose functional currency is not the U.S. dollar were translated at the exchange rate in effect at the balance sheet date, and revenues and expenses were translated at average exchange rates for the period in which those entities were included in Roper’s financial results. Translation adjustments are reflected within other comprehensive income. Foreign currency transaction gains and losses are recorded in our Consolidated Statements of Earnings within “Other income (expense), net.” Foreign currency transaction gains/(losses) were not material for any periods presented.

Goodwill and Other Intangibles – Roper accounts for goodwill in a purchase business combination as the excess of the cost over the estimated fair value of net assets acquired. Business combinations can also result in other intangible assets being recognized. Amortization of intangible assets, if applicable, occurs over their estimated useful lives. Goodwill, which is not amortized, is tested for impairment on an annual basis (or 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). When testing goodwill for impairment, the Company has the option to first assess qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the estimated fair value of a reporting unit is less than its carrying amount. If the Company elects to perform a qualitative assessment and determines that an impairment is more likely than not, then performance of the quantitative impairment test is required. The quantitative process utilizes both an income approach (discounted cash flow) and a market approach (consisting of a comparable public company earnings multiples methodology) to estimate the fair value of a reporting unit. To determine the reasonableness of the estimated fair values, the Company reviews the assumptions to ensure that neither the income approach nor the market approach provides significantly different valuations. If the estimated fair value exceeds the carrying value, no further work is required and no impairment loss is recognized. If the carrying value exceeds the estimated fair value, a non-cash impairment loss is recognized in the amount of that excess.

When performing the quantitative assessment, key assumptions used in the income and market methodologies are updated when the analysis is performed for each reporting unit. The assumptions that have the most significant effect on the fair value calculations are the projected revenue growth rates, future operating margins, discount rates, terminal values, and earnings multiples. While the Company uses reasonable and timely information to prepare its discounted cash flow analysis, actual future cash flows or market conditions could differ significantly resulting in future impairment charges related to recorded goodwill balances.

As of the annual impairment test, Roper has 22 reporting units with individual goodwill amounts ranging from $17.5 to $3,363.6. In 2023, the Company performed its annual impairment test in the fourth quarter for all reporting units. The Company conducted its analysis qualitatively and assessed whether it was more likely than not that the respective fair value of these reporting units was less than the carrying amount. The Company determined that impairment of goodwill was not likely in any of its reporting units and thus was not required to perform a quantitative analysis for these reporting units.

Recently acquired reporting units generally represent a higher inherent risk of impairment, which typically decreases as the businesses are integrated into the enterprise. Negative industry or economic trends, disruptions to its business, actual results significantly below expected results, unexpected significant changes or planned changes in the use of the assets, divestitures, and market capitalization declines may have a negative effect on the fair value of Roper’s reporting units.

The following events or circumstances, although not comprehensive, would be considered to determine whether interim testing of goodwill would be required:

•a significant adverse change in legal factors or in the business climate;

•an adverse action or assessment by a regulator;

•unanticipated competition;

•a loss of key personnel;

•a more-likely-than-not expectation that a reporting unit or a significant portion of a reporting unit will be sold or otherwise disposed of;

•the testing for recoverability of a significant asset group within a reporting unit; and

•recognition of a goodwill impairment loss in the financial statements of a subsidiary that is a component of a reporting unit.

Business combinations can also result in other intangible assets being recognized. Amortization of intangible assets, if applicable, occurs over their estimated useful lives. Trade names that are determined to have indefinite useful economic lives are not amortized, but are separately tested for impairment during the fourth quarter of the fiscal year or on an interim basis if an event occurs that indicates the fair value is more likely than not below the carrying value. Roper first qualitatively assesses whether the existence of events or circumstances leads to a determination that it is more likely than not that the estimated fair value of an indefinite-lived trade name is less than its carrying amount. If necessary, Roper conducts a quantitative review using the relief-from-royalty method. This methodology assumes that, in lieu of ownership, a third party would be willing to pay a royalty in order to exploit the related benefits of these assets. To the extent the Company determines a fair value, the inputs used represent a Level 3 fair value measurement in the FASB fair value hierarchy given that the inputs are unobservable. The assumptions that have the most significant effect on the fair value calculations are the royalty rates, projected revenue growth rates, discount rates, and terminal values. Each royalty rate is determined based on the profitability of the trade name to which it relates and observed market royalty rates. Revenue growth rates are determined after considering current and future economic

conditions, recent sales trends, discussions with customers, planned timing of new product launches, or other variables. Trade names resulting from recent acquisitions generally represent the highest risk of impairment, which typically decreases as the businesses are integrated into Roper.

During the fourth quarter of 2021, the Company determined that the use of the Sunquest trade name would be discontinued given the strategic action to merge the Sunquest business into our Clinisys business, both of which are reported in our Application Software reportable segment. Considering the planned merger and updated market comparisons, the royalty rate utilized in the quantitative impairment assessment of the trade name was 0.5% as compared to a royalty rate of 3.5% used in the prior year. The royalty rate reduction was the significant assumption that resulted in a non-cash impairment charge of $94.4 recognized as “Impairment of intangible assets” within our Consolidated Statement of Earnings.

The assessment of fair value for impairment purposes requires significant judgments to be made by management. Although forecasts are based on assumptions that are considered reasonable by management and consistent with the plans and estimates management uses to operate the underlying businesses, there is significant judgment in estimating future operating results. Changes in estimates or the application of alternative assumptions could produce significantly different results.

The most significant identifiable intangible assets with definite useful economic lives recognized from our acquisitions are customer relationships. The fair value for customer relationships is determined as of the acquisition date using the excess earnings method. Under this methodology the fair value is determined based on the estimated future after-tax cash flows arising from the acquired customer relationships over their estimated lives after considering customer attrition and contributory asset charges. The assumptions that have the most significant effect on the fair value calculations are the customer attrition rates, projected customer revenue growth rates, margins, contributory asset charges, and discount rates. When testing customer relationship intangible assets for potential impairment, management considers historical customer attrition rates and projected revenues and profitability related to customers that existed at acquisition. In evaluating the amortizable life for customer relationship intangible assets, management considers historical customer attrition patterns.

Roper evaluates whether there has been an impairment of identifiable intangible assets with definite useful economic lives, or of the remaining life of such assets, when certain indicators of impairment are present. In the event that facts and circumstances indicate that the cost or remaining period of amortization of any asset may be impaired, an evaluation of recoverability would be performed. If an evaluation is required, the estimated future gross, undiscounted cash flows associated with the asset would be compared to the asset’s carrying amount to determine if a write-down to fair value or a revision in the remaining amortization period is required.

Impairment of Long-Lived Assets – The Company determines whether there has been an impairment of long-lived assets, excluding goodwill and other intangible assets, when certain indicators of impairment are present. In the event that facts and circumstances indicate that the cost or life of any long-lived assets may be impaired, an evaluation of recoverability would be performed. If an evaluation is required, the estimated future gross, undiscounted cash flows associated with the asset would be compared to the asset’s carrying amount to determine if a write-down to fair value or a revision to the remaining life is required. Future adverse changes in market conditions or poor operating results of underlying long-lived assets could result in losses or an inability to recover the carrying value of the long-lived assets that may not be reflected in the assets’ current carrying value, thereby possibly requiring an impairment charge or acceleration of depreciation or amortization expense in the future.

Income Taxes – The Company recognizes in the Consolidated Financial Statements only those tax positions determined to be “more likely than not” of being sustained upon examination based on the technical merits of the positions. Interest and penalties related to unrecognized tax benefits are classified as a component of income tax expense.

The Company records a valuation allowance to reduce its deferred tax assets if, based on the weight of available evidence, both positive and negative, for each respective tax jurisdiction, it is more likely than not that some portion or all of such deferred tax assets will not be realized. Available evidence which is considered in determining the amount of valuation allowance required includes, but is not limited to, the Company’s estimate of future taxable income and any applicable tax planning strategies.

Certain assets and liabilities have different bases for financial reporting and income tax purposes. Deferred income taxes have been provided for these differences at the enacted tax rates expected to be paid. See Note 8 for additional information regarding income taxes.

Inventories – Inventories are valued at the lower of cost and net realizable value. Cost is determined using the first-in, first-out method. The Company writes down its inventory for estimated obsolescence or excess inventory equal to the difference between the cost of inventory and the estimated net realizable value based upon assumptions about future demand and market conditions.

Product Warranties – The Company sells certain of its products to customers with a product warranty that allows customers to return a defective product during a specified warranty period following the purchase in exchange for a replacement product, repair at no cost to the customer, or the issuance of a credit to the customer. The Company accrues its estimated exposure to warranty claims based upon current and historical product sales data, warranty costs incurred, and any other related information known to the Company.

Property, Plant and Equipment and Depreciation and Amortization – Property, plant and equipment is stated at cost less accumulated depreciation and amortization. Depreciation and amortization are provided for using principally the straight-line method over the estimated useful lives of the assets as follows:


Buildings			20 - 30 years
Machinery and other equipment			8 - 12 years
Computer equipment and software			3 - 5 years

Leasehold improvements are depreciated over the shorter of the remaining lease term or the useful life of the asset.

Research, Development and Engineering – Research, development and engineering (“R,D&E”) costs include salaries and benefits, rents, supplies, and other costs related to products under development or improvements to existing products. R,D&E costs are expensed as incurred and are included within selling, general and administrative expenses. R,D&E expenses totaled $646.1, $529.8, and $484.8 for the years ended December 31, 2023, 2022, and 2021, respectively.

Revenue Recognition – The reported results reflect the application of ASC 606 guidance. The amount of revenue recognized reflects the consideration which the Company expects to be entitled to receive in exchange for these products and/or services. To achieve this principle, the Company applies the following five steps:

•identify the contract with the customer;

•identify the performance obligations in the contract;

•determine the transaction price;

•allocate the transaction price to performance obligations in the contract; and

•recognize revenue when or as the Company satisfies a performance obligation.

Disaggregated Revenue – We disaggregate our revenues by reportable segment into four categories: (i) recurring revenue comprised of Software-as-a-Service (“SaaS”), annual term licenses, and software maintenance; (ii) reoccurring revenue comprised of transactional and volume-based fees related to software licenses; (iii) non-recurring revenue comprised of multi-year 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 tables below:


	Year ended December 31, 2023
Revenue stream	Application Software		Network Software		Technology Enabled Products		Total
Software related
Recurring	$	2,454.3	$	1,039.5	$	17.3	$	3,511.1
Reoccurring	137.8		263.4		—		401.2
Non-recurring	594.8		136.5		1.5		732.8
Total Software Revenue	3,186.9		1,439.4		18.8		4,645.1

Product Revenue	—		—		1,532.7		1,532.7
Total Revenue	$	3,186.9	$	1,439.4	$	1,551.5	$	6,177.8


	Year ended December 31, 2022
Revenue stream	Application Software		Network Software		Technology Enabled Products		Total
Software related
Recurring	$	1,946.0	$	981.4	$	12.0	$	2,939.4
Reoccurring	124.2		246.2		—		370.4
Non-recurring	569.3		150.9		1.2		721.4
Total Software Revenue	2,639.5		1,378.5		13.2		4,031.2

Product Revenue	—		—		1,340.6		1,340.6
Total Revenue	$	2,639.5	$	1,378.5	$	1,353.8	$	5,371.8


	Year ended December 31, 2021
Revenue stream	Application Software		Network Software		Technology Enabled Products		Total
Software related
Recurring	$	1,708.0	$	837.5	$	7.8	$	2,553.3
Reoccurring	111.4		249.5		—		360.9
Non-recurring	547.3		136.8		0.8		684.9
Total Software Revenue	2,366.7		1,223.8		8.6		3,599.1

Product Revenue	—		—		1,234.7		1,234.7
Total Revenue	$	2,366.7	$	1,223.8	$	1,243.3	$	4,833.8

We recognize revenue over time or at a point in time depending on our evaluation of when the customer obtains control over the promised products or services. For software arrangements that include multiple performance obligations, we allocate revenue to each performance obligation based on estimates of the price that we would charge the customer for each promised product or service if it were sold on a standalone basis. Software licenses may be combined with implementation/installation services as a single performance obligation if the implementation/installation significantly modifies or customizes the functionality of the software license.

Software and related services

•Recurring – consists primarily of SaaS subscriptions and post-contract support (“PCS”) which are recognized ratably over the contractual term and annual term software licenses which are generally recognized at a point in time.

•Reoccurring – consists primarily of transactional and volume-based fees which are highly reoccurring and recognized at a point in time under a usage-based model.

•Non-recurring – consists primarily of perpetual, multi-year term software licenses, or installation/implementation services and associated hardware. Revenues from perpetual and multi-year term licenses are generally recognized at a point in time. Revenues from software implementation projects are generally recognized over time using the input method, utilizing the ratio of costs or labor hours incurred to total estimated costs or labor, as the measure of performance.

Payment for software licenses is generally required within 30 to 60 days of the transfer of control. Payment for PCS is generally required within 30 to 60 days of the commencement of the service period, which is primarily offered to customers over a one-year timeframe. Payment terms do not contain a significant financing component. Payment for implementation/installation services that are recognized over time is typically commensurate with milestones defined in the contract, or billable hours incurred.

Products

Revenue from product sales is recognized when control transfers to the customer, which is generally when the product is shipped. Non-project-based installation and repair services are performed by certain of our businesses for which revenue is recognized upon completion.

Payment terms are generally 30 to 60 days from the transfer of control. Payment terms do not contain a significant financing component.

Accounts receivable, net – Accounts receivable, net includes amounts billed and currently due from customers. The amounts due are stated at their net estimated realizable value. Accounts receivable are stated net of an allowance for doubtful accounts and sales allowances of $22.2 and $16.6 at December 31, 2023 and 2022, respectively. We make estimates of expected allowance for doubtful accounts based upon our assessment of various factors, including historical experience, the age of the accounts receivable balances, changes to customer creditworthiness, and other factors that may affect our ability to collect from customers.

Unbilled receivables – Our unbilled receivables include unbilled amounts typically resulting from sales under software milestone billings associated with multi-year term license renewals and software implementations when the input method of revenue recognition is utilized and revenue recognized exceeds the amount billed to the customer, and right to payment is not solely due to the passage of time. Amounts may not exceed their net realizable value.

Deferred revenue – We record deferred revenue when cash payments are received or due in advance of our performance. Our deferred revenue relates primarily to software and related services. In most cases, we recognize deferred revenue ratably over time as the SaaS or PCS performance obligation is satisfied. The non-current portion of deferred revenue is included in “Other liabilities” in our Consolidated Balance Sheets.

Our unbilled receivables and deferred revenue are reported in a net position on a contract-by-contract basis at the end of each reporting period. The net balances are classified as current or non-current based on expected timing of revenue recognition and billable milestones.

Deferred commissions – Our incremental direct costs of obtaining a contract, which consist of sales commissions primarily for our software sales, are deferred and amortized on a straight-line basis over the period of contract performance or a longer period, depending on facts and circumstances. We classify deferred commissions as current or non-current based on the expected timing of expense recognition. Where the amortization period would have been one year or less, we expense the associated incremental direct cost as incurred. The current and non-current portions of deferred commissions are included in “Other current assets” and “Other assets,” respectively, in our Consolidated Balance Sheets. At December 31, 2023 and 2022, the current portion of deferred commissions was $35.0 and $33.1, respectively, and the non-current portion of deferred commissions was $36.7 and $31.7, respectively. The Company recognized $29.3, $30.7, and $27.2 of expense related to deferred commissions for the years ended December 31, 2023, 2022, and 2021, respectively.

Remaining performance obligations – Remaining performance obligations represent the transaction price of firm orders for which work has not been performed, excluding unexercised contract options. As of December 31, 2023, total remaining performance obligations were $4,612.6. We expect to recognize revenue on approximately 68% of our remaining performance obligations over the next 12 months, with the remainder to be recognized thereafter.

Capitalized Software – The Company accounts for capitalized software under applicable accounting guidance which, among other provisions, requires capitalization of certain internal-use software costs once certain criteria are met. Overhead, general and administrative, and training costs are not capitalized. Capitalized software balances, net of accumulated amortization, were $102.6 and $83.9 at December 31, 2023 and 2022, respectively, which are included in “Other assets” in our Consolidated Balance Sheets.

Stock-Based Compensation – The Company recognizes expense for the grant date fair value of its employee stock awards on a straight-line basis (or, in the case of performance-based awards, on a graded basis) over the employee’s requisite service period (generally the vesting period of the award). The fair value of option awards is estimated using the Black-Scholes option valuation model.

Summary of Accounting Policies - Property, Plant and Equipment (Details)	Dec. 31, 2023
Buildings \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life (in years)	20 years
Buildings \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life (in years)	30 years
Machinery and other equipment \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life (in years)	8 years
Machinery and other equipment \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life (in years)	12 years
Computer equipment and software \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life (in years)	3 years
Computer equipment and software \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life (in years)	5 years

Business Acquisitions and Dispositions (Details) $ in Millions										3 Months Ended	9 Months Ended	12 Months Ended
	Jan. 22, 2024 USD ($)	Dec. 26, 2023 USD ($)	Aug. 21, 2023 USD ($)	Aug. 07, 2023 USD ($)	Aug. 04, 2023 USD ($)	May 02, 2023 USD ($)	Oct. 04, 2022 USD ($)	Dec. 30, 2021 USD ($) acquisition	Mar. 17, 2021 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2021 acquisition	Dec. 31, 2023 USD ($) acquisition	Dec. 31, 2022 USD ($) acquisition	Dec. 31, 2021 USD ($) acquisition
Business Acquisition [Line Items]
Number of businesses acquired \| acquisition								7			4	4	7	7
Goodwill								$ 138.8				$ 17,118.8	$ 15,946.1	$ 13,476.3
Other identifiable intangibles								$ 104.9
Cash paid, net of cash acquired												2,052.7	$ 4,280.1	217.0
Sedaru, Inc
Business Acquisition [Line Items]
Proceeds from sale of equity method investments									$ 27.1
Equity method investment, realized gain (loss) on disposal									27.1
Sedaru, Inc \| Disposal group, disposed of by sale, not discontinued operations \| Gatan
Business Acquisition [Line Items]
Income tax expense in connection with sale									$ 5.5
Customer related intangibles
Business Acquisition [Line Items]
Weighted average useful life of finite-lived intangible assets (in years)								12 years 10 months 24 days
Other identifiable intangibles								$ 94.6
Technology
Business Acquisition [Line Items]
Weighted average useful life of finite-lived intangible assets (in years)								5 years 3 months 18 days
Other identifiable intangibles								$ 10.3
Syntellis Performance Solutions, LLC
Business Acquisition [Line Items]
Aggregate purchase price				$ 1,381.0
Purchase price				$ 135.0
Weighted average useful life of finite-lived intangible assets (in years)				15 years
Goodwill				$ 859.0
Other identifiable intangibles				594.0
Syntellis Performance Solutions, LLC \| Trade names
Business Acquisition [Line Items]
Indefinite-lived intangible assets				$ 17.0
Syntellis Performance Solutions, LLC \| Customer related intangibles
Business Acquisition [Line Items]
Weighted average useful life of finite-lived intangible assets (in years)				20 years
Other identifiable intangibles				$ 529.0
Syntellis Performance Solutions, LLC \| Technology
Business Acquisition [Line Items]
Weighted average useful life of finite-lived intangible assets (in years)				7 years
Other identifiable intangibles				$ 65.0
Promium, LLC
Business Acquisition [Line Items]
Aggregate purchase price						$ 16.5
Goodwill												330.6
Other identifiable intangibles												229.1
Promium, LLC \| Trade names
Business Acquisition [Line Items]
Indefinite-lived intangible assets												$ 15.4
Promium, LLC \| Customer related intangibles
Business Acquisition [Line Items]
Weighted average useful life of finite-lived intangible assets (in years)												16 years 10 months 24 days
Other identifiable intangibles												$ 209.4
Promium, LLC \| Technology
Business Acquisition [Line Items]
Weighted average useful life of finite-lived intangible assets (in years)												5 years
Other identifiable intangibles												$ 19.7
Replicon Inc.
Business Acquisition [Line Items]
Aggregate purchase price			$ 447.5
Purchase price			$ 80.0
Weighted average useful life of finite-lived intangible assets (in years)			15 years
Executive Business Services, Inc. (“ProPricer”)
Business Acquisition [Line Items]
Aggregate purchase price		$ 79.5
Certinia Inc.
Business Acquisition [Line Items]
Cash paid, net of cash acquired					$ 125.0							119.8
Certinia Inc. \| Certinia Inc.
Business Acquisition [Line Items]
Equity method investment, ownership percentage					18.20%
Genesis Ultimate Holding Co. \| Subsequent event
Business Acquisition [Line Items]
Aggregate purchase price	$ 1,860.0
Purchase price	$ 110.0
Frontline Technologies Parent LLC
Business Acquisition [Line Items]
Aggregate purchase price							$ 3,738.0
Purchase price							350.0					500.0
Goodwill							2,197.6
Other identifiable intangibles							$ 1,918.6
Deferred tax liabilities												122.0
Enterprise value, adjusted for cash and the settlement of liabilities, net of tax benefit												3,725.0
Business combination, consideration tax benefit utilized over period							15 years
Amortizable intangible assets							$ 1,835.6
Deferred tax assets (liabilities), net												258.0
Goodwill, expected tax deductible amount												$ 1,200.0
Frontline Technologies Parent LLC \| Trade names
Business Acquisition [Line Items]
Other identifiable intangibles							$ 83.0
Frontline Technologies Parent LLC \| Customer related intangibles
Business Acquisition [Line Items]
Weighted average useful life of finite-lived intangible assets (in years)							20 years
Other identifiable intangibles							$ 1,757.0
Frontline Technologies Parent LLC \| Technology
Business Acquisition [Line Items]
Weighted average useful life of finite-lived intangible assets (in years)							5 years
Other identifiable intangibles							$ 78.6
Other acquisitions
Business Acquisition [Line Items]
Number of businesses acquired \| acquisition												3	6
Aggregate purchase price														$ 225.9
Deferred tax liabilities													$ 578.8
T I P Technologies Inc And Common Sense Solutions Inc
Business Acquisition [Line Items]
Goodwill										$ 361.5
Other identifiable intangibles										239.3
T I P Technologies Inc And Common Sense Solutions Inc \| Trade names
Business Acquisition [Line Items]
Other identifiable intangibles										$ 9.5
T I P Technologies Inc And Common Sense Solutions Inc \| Customer related intangibles
Business Acquisition [Line Items]
Weighted average useful life of finite-lived intangible assets (in years)										18 years 2 months 12 days
Other identifiable intangibles										$ 223.4
T I P Technologies Inc And Common Sense Solutions Inc \| Technology
Business Acquisition [Line Items]
Weighted average useful life of finite-lived intangible assets (in years)										4 years 10 months 24 days
Other identifiable intangibles										$ 15.9
American LegalNet Inc
Business Acquisition [Line Items]
Percentage of voting interests acquired (as a percent)								100.00%

Contract Balances - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2023
Disaggregation of Revenue [Line Items]
Revenue recognized from contract liability balance	$ 1,322.0	$ 1,053.1
Syntellis Performance Solutions, LLC
Disaggregation of Revenue [Line Items]
Acquisition liabilities assumed	$ 125.0		$ 125.0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Fair Value - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
Fair Value - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2023	Sep. 30, 2023	Nov. 22, 2022
Indicor
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity method investment fair value	$ 535.0		$ 535.0
Held-for-sale or Disposed of by Sale \| Industrial Businesses
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Retaining minority interest	49.00%
Ownership interest divested, percent			51.00%
Consideration receivable or received on disposal	$ 829.0
Annual payment made on unit adjustment pre-tax basis	$ 29.0
Expected investment with unit adjustment, term	5 years
Obligation to pay achieving EBITDA	$ 425.0
Held-for-sale or Disposed of by Sale \| Industrial Businesses \| RIPIC TopCo
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment pay in kind percentage	1.70%
Liquidation preference			$ 829.0
Disposed of by Sale \| Honeywell International, Inc.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Consideration receivable or received on disposal		$ 670.0

Segment and Geographic Area Information

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Segment and Geographic Area Information

Our businesses are reported in three segments classified based on business model and delivery of performance obligations. The segments are: Application Software, Network Software, and Technology Enabled Products. The three reportable segments are as follows:

–Application Software - Aderant, CBORD, Clinisys, Data Innovations, Deltek, Frontline, 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

There were no material transactions between Roper’s reportable segments during 2023, 2022, and 2021. Operating profit by reportable segment and by geographic area is defined as net revenues less operating costs and expenses. These costs and expenses do not include unallocated corporate general and administrative expenses, enterprise-wide stock-based compensation, or non-cash impairments. Items below income from operations on Roper’s Consolidated Statements of Earnings are not allocated to reportable segments.

Operating assets are those assets used primarily in the operations of each reportable segment or geographic area. Corporate assets are principally comprised of cash and cash equivalents, income taxes receivable, deferred tax assets, deferred compensation assets, equity investments, and property and equipment.

Selected financial information by reportable segment for 2023, 2022, and 2021 was as follows:


	Application Software		Network Software		Technology Enabled Products		Corporate		Total
2023
Net revenues	$	3,186.9	$	1,439.4	$	1,551.5	$	—	$	6,177.8
Operating profit	820.8		632.4		518.7		(226.7)		1,745.2
Assets:
Operating assets	730.8		235.6		337.5		35.0		1,338.9
Intangible assets, net	19,242.4		5,005.9		1,082.6		—		25,330.9
Other	377.7		122.3		65.5		932.2		1,497.7
Total assets									28,167.5
Capital expenditures	20.1		6.4		13.8		27.7		68.0
Capitalized software expenditures	39.5		0.5		—		—		40.0
Depreciation and other amortization	563.0		162.5		29.1		0.6		755.2

2022
Net revenues	$	2,639.5	$	1,378.5	$	1,353.8	$	—	$	5,371.8
Operating profit	714.0		570.6		449.1		(209.2)		1,524.5
Assets:
Operating assets	624.7		224.7		307.4		7.1		1,163.9
Intangible assets, net	17,758.4		5,118.5		1,099.9		—		23,976.8
Other	340.2		124.2		95.4		1,280.3		1,840.1
Total assets									26,980.8
Capital expenditures	20.7		8.8		9.2		1.4		40.1
Capitalized software expenditures	28.5		1.7		—		—		30.2
Depreciation and other amortization	455.8		164.2		29.8		0.3		650.1

2021
Net revenues	$	2,366.7	$	1,223.8	$	1,243.3	$	—	$	4,833.8
Operating profit 2	633.1		476.8		415.6		(189.9)		1,335.6
Assets:
Operating assets	576.0		215.5		250.7		15.4		1,057.6
Intangible assets, net	13,498.4		5,364.8		1,122.2		—		19,985.4
Other	205.8		50.4		33.8		498.0		788.0
Total assets 1									21,831.0
Capital expenditures	18.0		5.0		4.5		1.0		28.5
Capitalized software expenditures	26.3		3.4		—		—		29.7
Depreciation and other amortization	418.7		164.8		32.1		0.3		615.9

1 Total assets excludes assets held for sale of $1,882.9 associated with the 2021 Divestitures and Indicor, as applicable, on December 31, 2021.

2 Operating profit excludes $94.4 of non-cash impairment charges for the year ended December 31, 2021.

Summarized data for Roper’s U.S. and foreign operations (principally in Canada, Europe, and Asia) for 2023, 2022, and 2021, based upon the country of origin of the Roper entity making the sale, was as follows:


	United States		Non-U.S.		Eliminations		Total
2023
Sales to unaffiliated customers	$	5,353.6	$	824.2	$	—	$	6,177.8
Sales between geographic areas	73.5		79.7		(153.2)		—
Net revenues	$	5,427.1	$	903.9	$	(153.2)	$	6,177.8
Long-lived assets	$	251.1	$	20.1	$	—	$	271.2

2022
Sales to unaffiliated customers	$	4,610.2	$	761.6	$	—	$	5,371.8
Sales between geographic areas	55.5		82.2		(137.7)		—
Net revenues	$	4,665.7	$	843.8	$	(137.7)	$	5,371.8
Long-lived assets	$	196.5	$	17.1	$	—	$	213.6

2021
Sales to unaffiliated customers	$	4,105.6	$	728.2	$	—	$	4,833.8
Sales between geographic areas	81.1		81.9		(163.0)		—
Net revenues	$	4,186.7	$	810.1	$	(163.0)	$	4,833.8
Long-lived assets	$	167.3	$	19.8	$	—	$	187.1

Export sales from the U.S. during the years ended December 31, 2023, 2022, and 2021 were $198.1, $191.8, and $179.9, respectively. In the year ended December 31, 2023, these exports were shipped primarily to Canada (46%), Europe (26%), Asia (14%), and other (14%).

Sales to customers outside of the U.S. accounted for a significant portion of Roper’s revenues. Sales are attributed to geographic areas based upon the location where the product is ultimately delivered. Roper’s net revenues for the years ended December 31, 2023, 2022, and 2021 are shown below by region, except for Canada, which is presented separately:


	Application Software		Network Software		Technology Enabled Products		Total
2023
Canada	$	63.7	$	99.5	$	91.4	$	254.6
Europe	260.7		64.2		128.3		453.2
Asia	4.6		14.6		55.9		75.1
Rest of the world	34.6		9.2		46.7		90.5
Total	$	363.6	$	187.5	$	322.3	$	873.4
2022
Canada	$	57.8	$	95.9	$	68.6	$	222.3
Europe	241.2		65.7		117.7		424.6
Asia	4.9		12.2		56.2		73.3
Rest of the world	35.1		7.5		43.7		86.3
Total	$	339.0	$	181.3	$	286.2	$	806.5
2021
Canada	$	51.2	$	85.2	$	61.7	$	198.1
Europe	248.2		59.2		125.3		432.7
Asia	3.7		10.9		49.4		64.0
Rest of the world	37.1		6.5		37.5		81.1
Total	$	340.2	$	161.8	$	273.9	$	775.9

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

Income Taxes - Schedule of Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current:
Federal	$ 352.6	$ 322.9	$ 110.2
State	80.7	80.8	50.8
Foreign	69.9	65.9	59.9
Deferred:
Federal	(94.1)	(136.9)	27.5
State	(27.7)	(31.1)	(27.2)
Foreign	(6.7)	(5.2)	5.4
Income tax expense	$ 374.7	$ 296.4	$ 226.6

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Fair Value - Schedule of Fixed-Rate Senior Notes, Fair Value (Details) - Senior notes - USD ($)	Dec. 31, 2023	Sep. 01, 2020	Jun. 22, 2020	Aug. 26, 2019	Aug. 28, 2018
Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed rate senior notes carrying amount	$ 6,000,000,000
Senior Notes Due in 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Face amount of debt				$ 500,000,000.0
Fixed interest rate (as a percent)				2.35%
Senior Notes Due in 2024 \| Fair Value, Inputs, Level 2
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%
Long-term debt, fair value	$ 489,000,000
Senior Notes Due 2025 \| Fair Value, Inputs, Level 2
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%
Long-term debt, fair value	$ 295,000,000
Senior Unsecured Notes Due September 15, 2025
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Face amount of debt		$ 700,000,000.0
Fixed interest rate (as a percent)		1.00%
Senior Unsecured Notes Due September 15, 2025 \| Fair Value, Inputs, Level 2
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)	1.00%
Long-term debt, fair value	$ 655,000,000
Senior Notes Due 2026 \| Fair Value, Inputs, Level 2
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%
Long-term debt, fair value	$ 685,000,000
Senior Unsecured Notes Due September 15, 2027
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Face amount of debt		$ 700,000,000.0
Fixed interest rate (as a percent)		1.40%
Senior Unsecured Notes Due September 15, 2027 \| Fair Value, Inputs, Level 2
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%
Long-term debt, fair value	$ 627,000,000
Senior Notes Due 2028
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Face amount of debt					$ 800,000,000.0
Fixed interest rate (as a percent)					4.20%
Senior Notes Due 2028 \| Fair Value, Inputs, Level 2
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%
Long-term debt, fair value	$ 787,000,000
Senior Notes Due in 2029
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Face amount of debt				$ 700,000,000.0
Fixed interest rate (as a percent)				2.95%
Senior Notes Due in 2029 \| Fair Value, Inputs, Level 2
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%
Long-term debt, fair value	$ 642,000,000
Senior Notes Due June 2030
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Face amount of debt			$ 600,000,000.0
Fixed interest rate (as a percent)			2.00%
Senior Notes Due June 2030 \| Fair Value, Inputs, Level 2
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)	2.00%
Long-term debt, fair value	$ 511,000,000
Senior Unsecured Notes Due February 15, 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%
Senior Unsecured Notes Due February 15, 2031 \| Fair Value, Inputs, Level 2
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%
Long-term debt, fair value	$ 825,000,000

Property, Plant and Equipment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 388.4	$ 336.6
Accumulated depreciation	(268.8)	(251.3)
Property, plant and equipment, net	119.6	85.3
Depreciation	35.4	37.3	$ 44.0
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	1.0	1.0
Buildings and leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	57.7	43.0
Machinery and other equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	137.2	113.2
Computer equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	116.4	107.5
Software
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 76.1	$ 71.9

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2023
Audit Information [Abstract]
Auditor Name	PricewaterhouseCoopers LLP
Auditor Location	Tampa, Florida
Auditor Firm ID	238

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Deferred tax assets:
Reserves and accrued expenses	$ 223.2	$ 192.4
Net operating loss carryforwards	80.2	84.6
R&D credits	7.6	8.9
Capitalized R&D expenditures	178.7	97.8
Interest expense limitation carryforwards	31.0	41.1
Lease liabilities	47.1	50.1
Valuation allowance	(34.8)	(37.1)
Total deferred tax assets	533.0	437.8
Deferred tax liabilities:
Reserves and accrued expenses	18.3	12.0
Amortizable intangible assets	1,752.8	1,818.7
Accrued tax on unremitted foreign earnings	8.8	5.8
Right-of-use assets	44.7	48.0
Outside basis difference in Indicor	189.3	174.2
Total deferred tax liabilities	$ 2,013.9	$ 2,058.7

Fair Value (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Schedule of Fair Value of Debt

Roper’s debt at December 31, 2023 included $6,000.0 of fixed-rate senior notes with the following fair values:


Fixed-rate senior notes				Fair value
Principal amount		Interest rate	Year of maturity	As of December 31, 2023
$	500	2.350%	2024	$	489
$	300	3.850%	2025	$	295
$	700	1.000%	2025	$	655
$	700	3.800%	2026	$	685
$	700	1.400%	2027	$	627
$	800	4.200%	2028	$	787
$	700	2.950%	2029	$	642
$	600	2.000%	2030	$	511
$	1,000	1.750%	2031	$	825

Equity Method Investments

The following table provides a reconciliation of the fair value for our equity investment in Indicor measured using Level 3 inputs:


	Year ended December 31, 2023
Beginning balance	$	535.0
Change in fair value	140.9
Ending balance	$	675.9

Segment and Geographic Area Information - Schedule of Revenue by Geographic Area (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Net revenues	$ 1,613.5	$ 1,563.4	$ 1,531.2	$ 1,469.7	$ 1,430.9	$ 1,350.3	$ 1,310.8	$ 1,279.8	$ 6,177.8	$ 5,371.8	$ 4,833.8
Application Software
Segment Reporting Information [Line Items]
Net revenues									3,186.9	2,639.5	2,366.7
Network Software
Segment Reporting Information [Line Items]
Net revenues									1,439.4	1,378.5	1,223.8
Technology Enabled Products
Segment Reporting Information [Line Items]
Net revenues									1,551.5	1,353.8	1,243.3
Canada
Segment Reporting Information [Line Items]
Net revenues									254.6	222.3	198.1
Canada \| Application Software
Segment Reporting Information [Line Items]
Net revenues									63.7	57.8	51.2
Canada \| Network Software
Segment Reporting Information [Line Items]
Net revenues									99.5	95.9	85.2
Canada \| Technology Enabled Products
Segment Reporting Information [Line Items]
Net revenues									91.4	68.6	61.7
Europe
Segment Reporting Information [Line Items]
Net revenues									453.2	424.6	432.7
Europe \| Application Software
Segment Reporting Information [Line Items]
Net revenues									260.7	241.2	248.2
Europe \| Network Software
Segment Reporting Information [Line Items]
Net revenues									64.2	65.7	59.2
Europe \| Technology Enabled Products
Segment Reporting Information [Line Items]
Net revenues									128.3	117.7	125.3
Asia
Segment Reporting Information [Line Items]
Net revenues									75.1	73.3	64.0
Asia \| Application Software
Segment Reporting Information [Line Items]
Net revenues									4.6	4.9	3.7
Asia \| Network Software
Segment Reporting Information [Line Items]
Net revenues									14.6	12.2	10.9
Asia \| Technology Enabled Products
Segment Reporting Information [Line Items]
Net revenues									55.9	56.2	49.4
Rest of the world
Segment Reporting Information [Line Items]
Net revenues									90.5	86.3	81.1
Rest of the world \| Application Software
Segment Reporting Information [Line Items]
Net revenues									34.6	35.1	37.1
Rest of the world \| Network Software
Segment Reporting Information [Line Items]
Net revenues									9.2	7.5	6.5
Rest of the world \| Technology Enabled Products
Segment Reporting Information [Line Items]
Net revenues									46.7	43.7	37.5
Non-U.S.
Segment Reporting Information [Line Items]
Net revenues									873.4	806.5	775.9
Non-U.S. \| Application Software
Segment Reporting Information [Line Items]
Net revenues									363.6	339.0	340.2
Non-U.S. \| Network Software
Segment Reporting Information [Line Items]
Net revenues									187.5	181.3	161.8
Non-U.S. \| Technology Enabled Products
Segment Reporting Information [Line Items]
Net revenues									$ 322.3	$ 286.2	$ 273.9

Goodwill and Other Intangible Assets - Other Intangible Assets (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Assets subject to amortization, accumulated amortization	$ (3,784.1)	$ (3,082.9)
Intangible assets, cost	11,996.2	11,113.6
Intangible assets, net book value	8,212.1	8,030.7
Trade names
Finite-Lived Intangible Assets [Line Items]
Assets not subject to amortization	728.0	689.3
Customer related intangibles
Finite-Lived Intangible Assets [Line Items]
Assets subject to amortization, cost	10,061.7	9,300.7
Assets subject to amortization, accumulated amortization	(3,000.5)	(2,437.7)
Assets subject to amortization, net book value	7,061.2	6,863.0
Unpatented technology
Finite-Lived Intangible Assets [Line Items]
Assets subject to amortization, cost	1,047.0	954.6
Assets subject to amortization, accumulated amortization	(638.8)	(506.9)
Assets subject to amortization, net book value	408.2	447.7
Software
Finite-Lived Intangible Assets [Line Items]
Assets subject to amortization, cost	149.2	149.0
Assets subject to amortization, accumulated amortization	(143.4)	(134.0)
Assets subject to amortization, net book value	5.8	15.0
Patents and other protective rights
Finite-Lived Intangible Assets [Line Items]
Assets subject to amortization, cost	10.3	10.3
Assets subject to amortization, accumulated amortization	(1.4)	(1.2)
Assets subject to amortization, net book value	$ 8.9	9.1
Trade names
Finite-Lived Intangible Assets [Line Items]
Assets subject to amortization, cost		9.7
Assets subject to amortization, accumulated amortization		(3.1)
Assets subject to amortization, net book value		$ 6.6

Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2023

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
Goodwill acquired	2,559.1		—		—		2,559.1
Currency translation adjustments	(32.1)		(56.3)		(1.4)		(89.8)
Reclassifications and other	1.2		(0.7)		—		0.5
Balances at December 31, 2022	$	11,417.5	$	3,598.3	$	930.3	$	15,946.1
Goodwill acquired	1,189.6		—		—		1,189.6
Currency translation adjustments	15.2		26.3		0.5		42.0
Reclassifications and other	(58.9)		—		—		(58.9)
Balances at December 31, 2023	$	12,563.4	$	3,624.6	$	930.8	$	17,118.8

Schedule of Other Intangible Assets - Subject to Amortization

Other intangible assets were comprised of:


	Cost		Accumulated amortization		Net book value
Assets subject to amortization:
Customer related intangibles	$	9,300.7	$	(2,437.7)	$	6,863.0
Unpatented technology	954.6		(506.9)		447.7
Software	149.0		(134.0)		15.0
Patents and other protective rights	10.3		(1.2)		9.1
Trade names	9.7		(3.1)		6.6
Assets not subject to amortization:
Trade names	689.3		—		689.3
Balances at December 31, 2022	$	11,113.6	$	(3,082.9)	$	8,030.7

Assets subject to amortization:
Customer related intangibles	$	10,061.7	$	(3,000.5)	$	7,061.2
Unpatented technology	1,047.0		(638.8)		408.2
Software	149.2		(143.4)		5.8
Patents and other protective rights	10.3		(1.4)		8.9

Assets not subject to amortization:
Trade names	728.0		—		728.0
Balances at December 31, 2023	$	11,996.2	$	(3,784.1)	$	8,212.1

Schedule of Other Intangible Assets - Not Subject to Amortization

Other intangible assets were comprised of:


	Cost		Accumulated amortization		Net book value
Assets subject to amortization:
Customer related intangibles	$	9,300.7	$	(2,437.7)	$	6,863.0
Unpatented technology	954.6		(506.9)		447.7
Software	149.0		(134.0)		15.0
Patents and other protective rights	10.3		(1.2)		9.1
Trade names	9.7		(3.1)		6.6
Assets not subject to amortization:
Trade names	689.3		—		689.3
Balances at December 31, 2022	$	11,113.6	$	(3,082.9)	$	8,030.7

Assets subject to amortization:
Customer related intangibles	$	10,061.7	$	(3,000.5)	$	7,061.2
Unpatented technology	1,047.0		(638.8)		408.2
Software	149.2		(143.4)		5.8
Patents and other protective rights	10.3		(1.4)		8.9

Assets not subject to amortization:
Trade names	728.0		—		728.0
Balances at December 31, 2023	$	11,996.2	$	(3,784.1)	$	8,212.1

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

+ Details

Summary of Accounting Policies - Disaggregated Revenue (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Net revenues	$ 1,613.5	$ 1,563.4	$ 1,531.2	$ 1,469.7	$ 1,430.9	$ 1,350.3	$ 1,310.8	$ 1,279.8	$ 6,177.8	$ 5,371.8	$ 4,833.8
Application Software
Disaggregation of Revenue [Line Items]
Net revenues									3,186.9	2,639.5	2,366.7
Network Software
Disaggregation of Revenue [Line Items]
Net revenues									1,439.4	1,378.5	1,223.8
Technology Enabled Products
Disaggregation of Revenue [Line Items]
Net revenues									1,551.5	1,353.8	1,243.3
Software related
Disaggregation of Revenue [Line Items]
Net revenues									4,645.1	4,031.2	3,599.1
Software related \| Application Software
Disaggregation of Revenue [Line Items]
Net revenues									3,186.9	2,639.5	2,366.7
Software related \| Network Software
Disaggregation of Revenue [Line Items]
Net revenues									1,439.4	1,378.5	1,223.8
Software related \| Technology Enabled Products
Disaggregation of Revenue [Line Items]
Net revenues									18.8	13.2	8.6
Recurring
Disaggregation of Revenue [Line Items]
Net revenues									3,511.1	2,939.4	2,553.3
Recurring \| Application Software
Disaggregation of Revenue [Line Items]
Net revenues									2,454.3	1,946.0	1,708.0
Recurring \| Network Software
Disaggregation of Revenue [Line Items]
Net revenues									1,039.5	981.4	837.5
Recurring \| Technology Enabled Products
Disaggregation of Revenue [Line Items]
Net revenues									17.3	12.0	7.8
Reoccurring
Disaggregation of Revenue [Line Items]
Net revenues									401.2	370.4	360.9
Reoccurring \| Application Software
Disaggregation of Revenue [Line Items]
Net revenues									137.8	124.2	111.4
Reoccurring \| Network Software
Disaggregation of Revenue [Line Items]
Net revenues									263.4	246.2	249.5
Reoccurring \| Technology Enabled Products
Disaggregation of Revenue [Line Items]
Net revenues									0.0	0.0	0.0
Non-recurring
Disaggregation of Revenue [Line Items]
Net revenues									732.8	721.4	684.9
Non-recurring \| Application Software
Disaggregation of Revenue [Line Items]
Net revenues									594.8	569.3	547.3
Non-recurring \| Network Software
Disaggregation of Revenue [Line Items]
Net revenues									136.5	150.9	136.8
Non-recurring \| Technology Enabled Products
Disaggregation of Revenue [Line Items]
Net revenues									1.5	1.2	0.8
Product Revenue
Disaggregation of Revenue [Line Items]
Net revenues									1,532.7	1,340.6	1,234.7
Product Revenue \| Application Software
Disaggregation of Revenue [Line Items]
Net revenues									0.0	0.0	0.0
Product Revenue \| Network Software
Disaggregation of Revenue [Line Items]
Net revenues									0.0	0.0	0.0
Product Revenue \| Technology Enabled Products
Disaggregation of Revenue [Line Items]
Net revenues									$ 1,532.7	$ 1,340.6	$ 1,234.7

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($)
Industrial Businesses
Other comprehensive income related to foreign currency translation to gain on disposition of discontinued operations, net of tax	$ 142.6

Summary of Accounting Policies - Narrative (Details) shares in Thousands		3 Months Ended	12 Months Ended
	Aug. 04, 2023 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2023 USD ($) reporting_unit shares	Dec. 31, 2022 USD ($) shares	Dec. 31, 2021 USD ($) shares	Nov. 22, 2022	Dec. 30, 2021 USD ($)
Summary Of Accounting Policies [Line Items]
Cash equivalents			$ 400,000	$ 432,900,000
Antidilutive securities excluded from computation of earnings per share (in shares) \| shares			726	834	521
Equity investments activity, net			$ (165,400,000)	$ 0	$ 0
Cash paid, net of cash acquired			$ 2,052,700,000	4,280,100,000	217,000,000.0
Number of reporting units \| reporting_unit			22
Goodwill		$ 13,476,300,000	$ 17,118,800,000	15,946,100,000	13,476,300,000		$ 138,800,000
Loss from impairment			0	0	94,400,000
Research, development and engineering costs			646,100,000	529,800,000	484,800,000
Allowance for doubtful accounts receivable and sales returns and allowances net current			22,200,000	16,600,000
Deferred commission, non-current			35,000,000.0	33,100,000
Deferred commission, current			36,700,000	31,700,000
Deferred commissions expense			29,300,000	30,700,000	$ 27,200,000
Remaining performance obligations			4,612,600,000
Capitalized computer software, net			102,600,000	$ 83,900,000
Certinia Inc.
Summary Of Accounting Policies [Line Items]
Equity investments activity, net			5,200,000
Cash paid, net of cash acquired	$ 125,000,000.0		$ 119,800,000
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Summary Of Accounting Policies [Line Items]
Remaining performance obligations, percentage (as a percent)			68.00%
Remaining performance obligations, expected timing of revenue recognition			12 months
Software licenses
Summary Of Accounting Policies [Line Items]
Subscription term (in years)			1 year
Trade names
Summary Of Accounting Policies [Line Items]
Loss from impairment		$ 94,400,000
Royalty rate
Summary Of Accounting Policies [Line Items]
Intangible assets measurement input		0.005
Intangible assets measurement input increase (decrease)		0.035
Minimum
Summary Of Accounting Policies [Line Items]
Goodwill			$ 17,500,000
Minimum \| Software licenses
Summary Of Accounting Policies [Line Items]
Number of days for payment (in days)			30 days
Minimum \| PCS
Summary Of Accounting Policies [Line Items]
Number of days for payment (in days)			30 days
Minimum \| Engineered products
Summary Of Accounting Policies [Line Items]
Number of days for payment (in days)			30 days
Maximum
Summary Of Accounting Policies [Line Items]
Goodwill			$ 3,363,600,000
Maximum \| Software licenses
Summary Of Accounting Policies [Line Items]
Number of days for payment (in days)			60 days
Maximum \| PCS
Summary Of Accounting Policies [Line Items]
Number of days for payment (in days)			60 days
Maximum \| Engineered products
Summary Of Accounting Policies [Line Items]
Number of days for payment (in days)			60 days
Indicor
Summary Of Accounting Policies [Line Items]
Equity method investment, ownership percentage			47.30%	49.00%		49.00%
Equity investments activity, net			$ (140,900,000)
Certinia Inc. \| Certinia Inc.
Summary Of Accounting Policies [Line Items]
Equity method investment, ownership percentage	18.20%
Held-for-sale or Disposed of by Sale \| Industrial Businesses
Summary Of Accounting Policies [Line Items]
Ownership interest divested, percent						51.00%

Contract Balances

12 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Contract Balances

Contract balances at December 31 are set forth in the following table:



Balance sheet account	2023		2022		Change
Unbilled receivables	$	106.4	$	91.5	$	14.9
Deferred revenue – current	(1,583.8)		(1,370.7)		(213.1)
Deferred revenue – non-current	(130.7)		(111.5)		(19.2)
Net contract assets/(liabilities)	$	(1,608.1)	$	(1,390.7)	$	(217.4)

The change in our net contract assets/(liabilities) from December 31, 2022 to December 31, 2023 was due primarily to net contract liabilities of approximately $125 associated with the acquisitions completed during the year ended December 31, 2023, and the timing of payments and invoicing relating to SaaS and post-contract support (PCS) renewals.

Revenue recognized during the years ended December 31, 2023 and 2022 that was included in the deferred revenue balance on December 31, 2022 and 2021 was $1,322.0 and $1,053.1, respectively. In order to determine revenues recognized in the period from contract liabilities, we allocate revenue to the individual deferred revenue balance outstanding at the beginning of the year until the revenue exceeds that balance.

Impairment losses recognized on our accounts receivable and unbilled receivables were immaterial in each of the years ended December 31, 2023, 2022, and 2021, respectively.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org//606/tableOfContent

+ Details

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($)
shares in Thousands, $ in Millions

Total

Common stock

Additional paid-in capital

Retained earnings

Accumulated other comprehensive loss

Treasury stock

Beginning balance (in shares) at Dec. 31, 2020

104,900

Beginning balance at Dec. 31, 2020

$ 10,479.8

$ 1.1

$ 2,097.5

$ 8,546.2

$ (147.0)

$ (18.0)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Net earnings

1,152.6

Stock option exercises (in shares)

500

Stock option exercises

104.7

Cash settlement of share-based awards in connection with disposition of discontinued operations

(6.7)

Treasury stock sold

15.1

14.7

0.4

Currency translation adjustments, including tax provision (benefit)

(36.1)

^[1]

(36.1)

Stock-based compensation

138.0

Restricted stock activity (in shares)

100

Restricted stock activity

(40.4)

Dividends declared

(243.2)

Ending balance (in shares) at Dec. 31, 2021

105,500

Ending balance 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

$ 4,544.7

4,544.7

Stock option exercises (in shares)

460

500

Stock option exercises

$ 110.0

110.0

Cash settlement of share-based awards in connection with disposition of discontinued operations

(11.1)

Treasury stock sold

14.3

13.9

0.4

Currency translation adjustments, including tax provision (benefit)

(3.9)

^[1]

(3.9)

Stock-based compensation

131.4

Restricted stock activity (in shares)

100

Restricted stock activity

(41.8)

Dividends declared

$ (269.6)

(269.6)

Ending balance (in shares) at Dec. 31, 2022

106,100

Ending balance at Dec. 31, 2022

$ 16,037.8

$ 1.1

2,510.2

13,730.7

(187.0)

(17.2)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Net earnings

$ 1,384.2

1,384.2

Stock option exercises (in shares)

593

600

Stock option exercises

$ 146.5

146.5

Treasury stock sold

15.5

15.1

0.4

Currency translation adjustments, including tax provision (benefit)

64.2

^[1]

64.2

Stock-based compensation

126.5

Restricted stock activity (in shares)

200

Restricted stock activity

(31.3)

Dividends declared

$ (298.6)

(298.6)

Ending balance (in shares) at Dec. 31, 2023

106,900

Ending balance at Dec. 31, 2023

$ 17,444.8

$ 1.1

$ 2,767.0

$ 14,816.3

$ (122.8)

$ (16.8)

[1]	In connection with the Indicor Transaction, we reclassified $142.6 of foreign currency translation adjustments to “Gain on disposition of discontinued operations, net of tax” during the year ended December 31, 2022.

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Preferred stock, par or stated value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized (in shares)	1,000,000.0	1,000,000.0
Preferred stock, outstanding (in shares)	0	0
Common stock, par or stated value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	350,000,000.0	350,000,000.0
Common stock, issued (in shares)	108,600,000	107,900,000
Common stock, outstanding (in shares)	106,900,000	106,100,000
Treasury Stock (in shares)	1,700,000	1,800,000

Segment and Geographic Area Information - Sales and Long-Lived Assets by Country of Origin (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Net revenues	$ 1,613.5	$ 1,563.4	$ 1,531.2	$ 1,469.7	$ 1,430.9	$ 1,350.3	$ 1,310.8	$ 1,279.8	$ 6,177.8	$ 5,371.8	$ 4,833.8
Long-lived assets	271.2				213.6				271.2	213.6	187.1
Non-U.S.
Segment Reporting Information [Line Items]
Net revenues									873.4	806.5	775.9
Sales to unaffiliated customers
Segment Reporting Information [Line Items]
Net revenues									6,177.8	5,371.8	4,833.8
Sales between geographic areas
Segment Reporting Information [Line Items]
Net revenues									0.0	0.0	0.0
Reportable Geographical Components \| United States
Segment Reporting Information [Line Items]
Net revenues									5,427.1	4,665.7	4,186.7
Long-lived assets	251.1				196.5				251.1	196.5	167.3
Reportable Geographical Components \| Non-U.S.
Segment Reporting Information [Line Items]
Net revenues									903.9	843.8	810.1
Long-lived assets	20.1				17.1				20.1	17.1	19.8
Reportable Geographical Components \| Sales to unaffiliated customers \| United States
Segment Reporting Information [Line Items]
Net revenues									5,353.6	4,610.2	4,105.6
Reportable Geographical Components \| Sales to unaffiliated customers \| Non-U.S.
Segment Reporting Information [Line Items]
Net revenues									824.2	761.6	728.2
Reportable Geographical Components \| Sales between geographic areas \| United States
Segment Reporting Information [Line Items]
Net revenues									73.5	55.5	81.1
Reportable Geographical Components \| Sales between geographic areas \| Non-U.S.
Segment Reporting Information [Line Items]
Net revenues									79.7	82.2	81.9
Eliminations
Segment Reporting Information [Line Items]
Net revenues									(153.2)	(137.7)	(163.0)
Long-lived assets	$ 0.0				$ 0.0				0.0	0.0	0.0
Eliminations \| Sales to unaffiliated customers
Segment Reporting Information [Line Items]
Net revenues									0.0	0.0	0.0
Eliminations \| Sales between geographic areas
Segment Reporting Information [Line Items]
Net revenues									$ (153.2)	$ (137.7)	$ (163.0)

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

Quarterly Financial Data (unaudited)

12 Months Ended

Dec. 31, 2023

Quarterly Financial Data [Abstract]

Quarterly Financial Data (unaudited)

The unaudited interim financial information below has been adjusted to incorporate the presentation of discontinued operations. Refer to Note 3 for further information on discontinued operations.


	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
2023
Net revenues	$	1,469.7	$	1,531.2	$	1,563.4	$	1,613.5
Gross profit	1,018.6		1,067.1		1,096.3		1,125.2
Income from operations	401.0		435.3		446.1		462.8
Net earnings from continuing operations	284.3		361.0		345.6		377.5
Net earnings (loss) from discontinued operations	(1.2)		3.9		1.6		11.5
Net earnings	283.1		364.9		347.2		389.0

Net earnings per share from continuing operations:
Basic	$	2.67	$	3.38	$	3.23	$	3.53
Diluted	$	2.66	$	3.36	$	3.21	$	3.50

Net earnings (loss) per share from discontinued operations:
Basic	$	(0.01)	$	0.04	$	0.02	$	0.11
Diluted	$	(0.01)	$	0.04	$	0.02	$	0.11

Net earnings per share:
Basic	$	2.66	$	3.42	$	3.25	$	3.64
Diluted	$	2.65	$	3.40	$	3.23	$	3.61

2022
Net revenues	$	1,279.8	$	1,310.8	$	1,350.3	$	1,430.9
Gross profit	897.2		911.5		941.8		1,002.3
Income from operations	355.9		362.9		393.2		412.5
Net earnings from continuing operations	236.4		225.0		276.9		247.3
Net earnings from discontinued operations	1,784.1		43.8		50.1		1,681.1
Net earnings	2,020.5		268.8		327.0		1,928.4

Net earnings per share from continuing operations:
Basic	$	2.24	$	2.13	$	2.61	$	2.33
Diluted	$	2.22	$	2.11	$	2.59	$	2.32

Net earnings per share from discontinued operations:
Basic	$	16.89	$	0.41	$	0.47	$	15.85
Diluted	$	16.72	$	0.41	$	0.47	$	15.74

Net earnings per share:
Basic	$	19.13	$	2.54	$	3.08	$	18.18
Diluted	$	18.94	$	2.52	$	3.06	$	18.06

The sum of the four quarters may not agree with the total for the year due to rounding.

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Stockholders' Equity [Abstract]
Currency translation adjustments, tax provision (benefit)	$ 10.3	$ 41.9	$ 6.2
Dividends declared (in dollars per share)	$ 2.80	$ 2.54	$ 2.31

Income Taxes - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Nov. 22, 2022
Operating Loss Carryforwards [Line Items]
Interest expense limitation carryforwards	$ 31.0	$ 41.1
Capitalized R&D expenditures	178.7	97.8
Outside basis difference in Indicor	189.3	174.2
Valuation allowance	34.8	37.1
Unrecognized tax benefits that would impact effective tax rate	35.6
Unrecognized tax benefits, income tax penalties and interest expense	2.0
Accrued interest and penalties	6.6	$ 4.6
Expected decrease of unrecognized tax benefits	$ 5.1
In Process Research and Development \| United States
Operating Loss Carryforwards [Line Items]
Capitalized R&D, amortization period (in years)	5 years
In Process Research and Development \| Non-U.S.
Operating Loss Carryforwards [Line Items]
Capitalized R&D, amortization period (in years)	15 years
Indicor
Operating Loss Carryforwards [Line Items]
Equity method investment, ownership percentage	47.30%	49.00%	49.00%
Domestic Tax Authority
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	$ 41.4
Valuation allowance	28.4
State and Local Jurisdiction
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	40.0
Foreign Tax Authority
Operating Loss Carryforwards [Line Items]
Valuation allowance	$ 6.4

Property, Plant and Equipment

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

The components of property, plant and equipment at December 31 were as follows:


	2023		2022
Land	$	1.0	$	1.0
Buildings and leasehold improvements	57.7		43.0
Machinery and other equipment	137.2		113.2
Computer equipment	116.4		107.5
Software	76.1		71.9
Property, plant and equipment, gross	388.4		336.6
Accumulated depreciation	(268.8)		(251.3)
Property, plant and equipment, net	$	119.6	$	85.3

Depreciation and amortization expense related to property, plant and equipment was $35.4, $37.3, and $44.0 for the years ended December 31, 2023, 2022, and 2021, respectively.

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended								12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net earnings	$ 389.0	$ 347.2	$ 364.9	$ 283.1	$ 1,928.4	$ 327.0	$ 268.8	$ 2,020.5	$ 1,384.2	$ 4,544.7	$ 1,152.6

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
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-Section 50
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-Publisher FASB
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B

Reference 32: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
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Reference 36: http://www.xbrl.org/2003/role/disclosureRef
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-Section 45
-Paragraph 1A
-Subparagraph (a)
-Publisher FASB
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Reference 37: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (a)
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-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1B

Reference 38: http://fasb.org/us-gaap/role/ref/legacyRef
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-Paragraph 2
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Reference 39: http://fasb.org/us-gaap/role/ref/legacyRef
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-SubTopic 220
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

+ Details

Stock-Based Compensation - Schedule of Share-based Compensation Plans Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Number of options
Outstanding, beginning balance (in shares)	2,985	3,223
Granted (in shares)	383	399
Exercised (in shares)	(593)	(460)
Canceled (in shares)	(87)	(177)
Outstanding, ending balance (in shares)	2,688	2,985
Exercisable (in shares)	1,763
Weighted-average exercise price
Outstanding, beginning balance (in dollars per share)	$ 312.34	$ 287.15
Granted (in dollars per share)	432.77	452.08
Exercised (in dollars per share)	246.77	239.11
Canceled (in dollars per share)	425.80	359.06
Outstanding, ending balance (in dollars per share)	340.89	$ 312.34
Exercisable (in dollars per share)	$ 291.74
Weighted-average remaining contractual term, outstanding (in years)	6 years	6 years 2 months 4 days
Weighted-average remaining contractual term, exercisable (in years)	4 years 9 months
Aggregate intrinsic value, outstanding	$ 549.1	$ 366.3
Aggregate intrinsic value, exercisable	$ 446.7

Property, Plant and Equipment (Tables)

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Schedule of Property, Plant and Equipment

Depreciation and amortization are provided for using principally the straight-line method over the estimated useful lives of the assets as follows:


Buildings			20 - 30 years
Machinery and other equipment			8 - 12 years
Computer equipment and software			3 - 5 years

The components of property, plant and equipment at December 31 were as follows:


	2023		2022
Land	$	1.0	$	1.0
Buildings and leasehold improvements	57.7		43.0
Machinery and other equipment	137.2		113.2
Computer equipment	116.4		107.5
Software	76.1		71.9
Property, plant and equipment, gross	388.4		336.6
Accumulated depreciation	(268.8)		(251.3)
Property, plant and equipment, net	$	119.6	$	85.3

Segment and Geographic Area Information - Narrative (Details) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2023 USD ($)	Sep. 30, 2023 USD ($)	Jun. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Sep. 30, 2022 USD ($)	Jun. 30, 2022 USD ($)	Mar. 31, 2022 USD ($)	Dec. 31, 2023 USD ($) segment	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments \| segment									3
Export sales	$ 1,613.5	$ 1,563.4	$ 1,531.2	$ 1,469.7	$ 1,430.9	$ 1,350.3	$ 1,310.8	$ 1,279.8	$ 6,177.8	$ 5,371.8	$ 4,833.8
Asia
Segment Reporting Information [Line Items]
Export sales									75.1	73.3	64.0
Canada
Segment Reporting Information [Line Items]
Export sales									254.6	222.3	198.1
Europe
Segment Reporting Information [Line Items]
Export sales									453.2	424.6	432.7
Exports
Segment Reporting Information [Line Items]
Export sales									$ 198.1	$ 191.8	$ 179.9
Exports \| Asia \| Geographic Concentration Risk \| Revenue
Segment Reporting Information [Line Items]
Concentration risk percentage (as a percent)									14.00%
Exports \| Canada \| Geographic Concentration Risk \| Revenue
Segment Reporting Information [Line Items]
Concentration risk percentage (as a percent)									46.00%
Exports \| Europe \| Geographic Concentration Risk \| Revenue
Segment Reporting Information [Line Items]
Concentration risk percentage (as a percent)									26.00%
Exports \| Other \| Geographic Concentration Risk \| Revenue
Segment Reporting Information [Line Items]
Concentration risk percentage (as a percent)									14.00%

Income Taxes

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Income Taxes

Earnings before income taxes for the years ended December 31, 2023, 2022, and 2021 consisted of the following components:


	2023		2022		2021
United States	$	1,480.3	$	1,026.4	$	814.7
Other	262.8		255.6		217.2
Earnings before income taxes	$	1,743.1	$	1,282.0	$	1,031.9

Components of income tax expense for the years ended December 31, 2023, 2022, and 2021 were as follows:


	2023		2022		2021
Current:
Federal	$	352.6	$	322.9	$	110.2
State	80.7		80.8		50.8
Foreign	69.9		65.9		59.9
Deferred:
Federal	(94.1)		(136.9)		27.5
State	(27.7)		(31.1)		(27.2)
Foreign	(6.7)		(5.2)		5.4
Income tax expense	$	374.7	$	296.4	$	226.6

Reconciliations between the U.S. federal statutory income tax rate and the effective income tax rate for the years ended December 31, 2023, 2022, and 2021 were as follows:


	2023		2022		2021
Federal statutory tax rate	21.0	%	21.0	%	21.0	%
Foreign operations, net	0.5		0.8		2.5
R&D tax credits	(1.9)		(3.0)		(2.1)
State taxes, net of federal benefit	3.5		3.7		2.8
Stock-based compensation	(1.5)		(1.0)		(2.4)
Impact of UK tax rate change	—		—		2.0

Legal entity restructuring	(0.4)		0.8		(1.4)
Other, net	0.3		0.8		(0.4)
Effective tax rate	21.5	%	23.1	%	22.0	%

The deferred income tax balance sheet accounts arise from temporary differences between the amount of assets and liabilities recognized for financial reporting and tax purposes.

Components of deferred tax assets and liabilities at December 31 were as follows:


	2023		2022
Deferred tax assets:
Reserves and accrued expenses	$	223.2	$	192.4
Net operating loss carryforwards	80.2		84.6
R&D credits	7.6		8.9
Capitalized R&D expenditures	178.7		97.8
Interest expense limitation carryforwards	31.0		41.1

Lease liabilities	47.1		50.1

Valuation allowance	(34.8)		(37.1)
Total deferred tax assets	$	533.0	$	437.8
Deferred tax liabilities:
Reserves and accrued expenses	$	18.3	$	12.0
Amortizable intangible assets	1,752.8		1,818.7

Accrued tax on unremitted foreign earnings	8.8		5.8
Right-of-use assets	44.7		48.0
Outside basis difference in Indicor	189.3		174.2
Total deferred tax liabilities	$	2,013.9	$	2,058.7

As of December 31, 2023, the Company has $41.4 of tax-effected U.S. federal net operating loss carryforwards and $40.0 of tax-effected state net operating loss carryforwards without regard for federal benefit of state. The majority of the net operating loss carryforwards are subject to limitation under the Internal Revenue Code of 1986, as amended (“IRC”) Section 382. Additionally, as of December 31, 2023, the Company has $31.0 of IRC Section 163(j) interest expense limitation carryforwards which have an indefinite carryforward period.

As of December 31, 2023, the Company has a $178.7 deferred tax asset related to taxpayer requirements to capitalize and amortize research and development (“R&D”) expenditures under IRC Section 174. The Company amortizes these costs for tax purposes over 5 years if the R&D was performed in the U.S. and over 15 years if the R&D was performed outside of the U.S.

The Company has a deferred tax liability of $189.3 in outside basis difference as of December 31, 2023 associated with the retained minority equity interest in Indicor. See Note 10 for additional information on this minority equity interest.

As of December 31, 2023, the Company determined that a total valuation allowance of $34.8 was necessary to reduce U.S. federal and state deferred tax assets by $28.4 and foreign deferred tax assets by $6.4, where it was more likely than not that all such deferred tax assets will not be realized. As of December 31, 2023, the Company believes it is more likely than not that the remaining net deferred tax assets will be realized based on the Company’s estimate of future taxable income and any applicable tax planning strategies within various tax jurisdictions.

The Company recognizes in the Consolidated Financial Statements only those tax positions determined to be “more likely than not” of being sustained upon examination based on the technical merits of the positions.

A reconciliation of the beginning and ending amounts of unrecognized tax benefits are as follows:


	2023		2022		2021
Beginning balances	$	29.0	$	40.5	$	63.5
Additions for tax positions of prior periods	4.3		—		2.2
Additions for tax positions of the current period	4.3		2.3		3.3
Additions due to acquisitions	—		—		1.0
Reductions for tax positions of prior periods	—		(11.2)		(0.5)
Reductions attributable to lapses of applicable statutes of limitations	(2.0)		(2.6)		(4.6)
Reductions attributable to settlements with taxing authorities	—		—		(24.4)
Ending balances	$	35.6	$	29.0	$	40.5

The total amount of unrecognized tax benefits that, if recognized, would impact the effective tax rate is $35.6. Interest and penalties related to unrecognized tax benefits were $2.0 in 2023 and are classified as a component of income tax expense. Accrued interest and penalties were $6.6 at December 31, 2023 and $4.6 at December 31, 2022. During the next twelve months, it is reasonably possible that the unrecognized tax benefits may decrease by a net amount of $5.1, mainly due to anticipated statute of limitations lapses in various jurisdictions.

The Company and its subsidiaries are subject to examinations for U.S. federal income tax as well as income tax in various state, city, and foreign jurisdictions. The Company’s federal income tax returns for 2020 through the current period remain open to examination and the relevant state, city, and foreign statutes vary. The Company does not expect the assessment of any significant additional tax in excess of amounts reserved.

The Company intends to distribute all historical unremitted foreign earnings up to the amount of excess foreign cash, as well as all future foreign earnings that can be repatriated without incremental U.S. federal tax cost. Any remaining outside basis differences relating to the Company’s investment in foreign subsidiaries are not expected to be material and will be indefinitely reinvested.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Leases

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Leases

The Company’s operating leases are primarily for real property in support of our business operations. Although many of our leases contain renewal options, we generally are not reasonably certain to exercise these options at the commencement date. Accordingly, renewal options are generally not included in the lease term for determining the right-of-use (“ROU”) asset and lease liability at commencement. Variable lease payments generally depend on an inflation-based index and such payments are not included in the original estimate of the lease liability. These variable lease payments are not material.

For the years ended December 31, 2023, 2022, and 2021, the Company recognized $50.6, $48.7, and $51.8 of operating lease expense, respectively.

The following table presents the supplemental cash flow information related to the Company’s operating leases for the years ended December 31:


	2023		2022		2021
Operating cash flows used for operating leases	$	50.6	$	48.3	$	51.5
Right-of-use assets obtained in exchange for operating lease obligations	29.6		53.9		28.2

The following table presents the lease balances within the Consolidated Balance Sheets related to the Company’s operating leases as of December 31:


Lease assets and liabilities	Balance sheet account	2023		2022
ASSETS:
Operating lease ROU assets	Other assets	$	189.8	$	196.1

LIABILITIES:
Current operating lease liabilities	Other accrued liabilities	43.3		46.4
Operating lease liabilities	Other liabilities	158.7		164.2
Total operating lease liabilities		$	202.0	$	210.6

Future minimum lease payments under non-cancellable leases were as follows:


2024	$	47.9
2025	42.9
2026	35.1
2027	28.3
2028	21.9
Thereafter	44.6
Total operating lease payments	220.7
Less: Imputed interest	18.7
Total operating lease liabilities	$	202.0


Weighted average remaining lease term – operating leases (years)			6
Weighted average discount rate (%)			3.0

Leases - Supplemental Cash Flow and Other Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Operating lease cost	$ 50.6	$ 48.7	$ 51.8
Operating cash flows used for operating leases	50.6	48.3	51.5
Right-of-use assets obtained in exchange for operating lease obligations	$ 29.6	$ 53.9	$ 28.2
Weighted average remaining lease term – operating leases (years)	6 years
Weighted average discount rate (%)	3.00%

Long-Term Debt - Schedule of Long-Term Debt (Details) - USD ($)	Dec. 31, 2023	Sep. 15, 2023	Dec. 31, 2022	Sep. 01, 2020	Jun. 22, 2020	Aug. 26, 2019	Aug. 28, 2018
Debt Instrument [Line Items]
Total debt, net of deferred financing costs	$ 6,330,100,000		$ 6,661,700,000
Less: Current portion	(499,500,000)		(699,200,000)
Long-term debt, net of deferred financing costs	5,830,600,000		5,962,500,000
Senior notes
Debt Instrument [Line Items]
Less: Deferred financing costs	(30,100,000)		(38,600,000)
Unsecured credit facility \| Credit facility
Debt Instrument [Line Items]
Long-term debt	360,000,000.0		0
$700 3.650% senior notes due 2023 \| Senior notes
Debt Instrument [Line Items]
Long-term debt	0		700,000,000.0
Fixed interest rate (as a percent)		3.65%
$700 3.650% senior notes due 2023 \| Senior notes \| Fair Value, Inputs, Level 2
Debt Instrument [Line Items]
Face amount of debt	$ 700,000,000
Fixed interest rate (as a percent)	3.65%
$500 2.350% senior notes due 2024 \| Senior notes
Debt Instrument [Line Items]
Long-term debt	$ 500,000,000.0		500,000,000.0
Face amount of debt						$ 500,000,000.0
Fixed interest rate (as a percent)						2.35%
$500 2.350% senior notes due 2024 \| Senior notes \| Fair Value, Inputs, Level 2
Debt Instrument [Line Items]
Face amount of debt	$ 500,000,000
Fixed interest rate (as a percent)	2.35%
$300 3.850% senior notes due 2025 \| Senior notes
Debt Instrument [Line Items]
Long-term debt	$ 300,000,000.0		300,000,000.0
$300 3.850% senior notes due 2025 \| Senior notes \| Fair Value, Inputs, Level 2
Debt Instrument [Line Items]
Face amount of debt	$ 300,000,000
Fixed interest rate (as a percent)	3.85%
$700 1.000% senior notes due 2025 \| Senior notes
Debt Instrument [Line Items]
Long-term debt	$ 700,000,000.0		700,000,000.0
Face amount of debt				$ 700,000,000.0
Fixed interest rate (as a percent)				1.00%
$700 1.000% senior notes due 2025 \| Senior notes \| Fair Value, Inputs, Level 2
Debt Instrument [Line Items]
Face amount of debt	$ 700,000,000
Fixed interest rate (as a percent)	1.00%
$700 3.800% senior notes due 2026 \| Senior notes
Debt Instrument [Line Items]
Long-term debt	$ 700,000,000.0		700,000,000.0
$700 3.800% senior notes due 2026 \| Senior notes \| Fair Value, Inputs, Level 2
Debt Instrument [Line Items]
Face amount of debt	$ 700,000,000
Fixed interest rate (as a percent)	3.80%
$700 1.400% senior notes due 2027 \| Senior notes
Debt Instrument [Line Items]
Long-term debt	$ 700,000,000.0		700,000,000.0
Face amount of debt				$ 700,000,000.0
Fixed interest rate (as a percent)				1.40%
$700 1.400% senior notes due 2027 \| Senior notes \| Fair Value, Inputs, Level 2
Debt Instrument [Line Items]
Face amount of debt	$ 700,000,000
Fixed interest rate (as a percent)	1.40%
$800 4.200% senior notes due 2028 \| Senior notes
Debt Instrument [Line Items]
Long-term debt	$ 800,000,000.0		800,000,000.0
Face amount of debt							$ 800,000,000.0
Fixed interest rate (as a percent)							4.20%
$800 4.200% senior notes due 2028 \| Senior notes \| Fair Value, Inputs, Level 2
Debt Instrument [Line Items]
Face amount of debt	$ 800,000,000
Fixed interest rate (as a percent)	4.20%
$700 2.950% senior notes due 2029 \| Senior notes
Debt Instrument [Line Items]
Long-term debt	$ 700,000,000.0		700,000,000.0
Face amount of debt						$ 700,000,000.0
Fixed interest rate (as a percent)						2.95%
$700 2.950% senior notes due 2029 \| Senior notes \| Fair Value, Inputs, Level 2
Debt Instrument [Line Items]
Face amount of debt	$ 700,000,000
Fixed interest rate (as a percent)	2.95%
$600 2.000% senior notes due 2030 \| Senior notes
Debt Instrument [Line Items]
Long-term debt	$ 600,000,000.0		600,000,000.0
Face amount of debt					$ 600,000,000.0
Fixed interest rate (as a percent)					2.00%
$600 2.000% senior notes due 2030 \| Senior notes \| Fair Value, Inputs, Level 2
Debt Instrument [Line Items]
Face amount of debt	$ 600,000,000
Fixed interest rate (as a percent)	2.00%
$1,000 1.750% senior notes due 2031 \| Senior notes
Debt Instrument [Line Items]
Long-term debt	$ 1,000,000,000		1,000,000,000
Face amount of debt				$ 1,000,000,000
Fixed interest rate (as a percent)				1.75%
$1,000 1.750% senior notes due 2031 \| Senior notes \| Fair Value, Inputs, Level 2
Debt Instrument [Line Items]
Face amount of debt	$ 1,000,000,000
Fixed interest rate (as a percent)	1.75%
Other \| Senior notes
Debt Instrument [Line Items]
Long-term debt	$ 200,000		$ 300,000

Contingencies	12 Months Ended
Contingencies	Dec. 31, 2023
Loss Contingency [Abstract]
Contingencies	Contingencies Roper, in the ordinary course of business, is party to various pending or threatened legal actions, including product liability, intellectual property, antitrust, 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, PowerPlan, Inc. (“PowerPlan”), is a defendant in an action pending in the U.S. District Court for the Northern District of Georgia (Lucasys Inc. v. PowerPlan, Inc., Case 1:20-cv-02987-AT) in which the plaintiff, a firm started by former PowerPlan employees, alleges PowerPlan has engaged in anticompetitive practices in violation of federal antitrust law. The plaintiff further alleges that PowerPlan violated Georgia’s deceptive trade practices act and undertook other tortious activities which impacted the plaintiff’s ability to commercialize its software and services offerings. The plaintiff claims damages of approximately $66, and seeks treble damages in addition to punitive damages, attorney fees, and pre-judgment interest. PowerPlan strongly denies the allegations in the dispute, and has asserted several affirmative defenses. PowerPlan and the plaintiff have each moved for summary judgment, and in the event such is not granted, PowerPlan anticipates this matter going to trial in the second half of 2024. Roper’s subsidiary, Vertafore, Inc. (“Vertafore”), had been named in three putative class actions, all of which are now dismissed: 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, with the dismissal affirmed by the U.S. Fifth Circuit Court of Appeals, effectively concluding the litigation. In July 2021, the plaintiff in the Masciotra case voluntarily dismissed his action without prejudice. In February 2023, the court granted Vertafore’s motion to dismiss the Mulvey case, and the plaintiff failed to appeal the dismissal effectively concluding the matter. Both the Allen and Mulvey cases purported to represent approximately 27.7 million individuals who held Texas driver’s licenses prior to February 2019. In November 2020, Vertafore announced that as a result of human error, three data files were inadvertently stored in an unsecured external storage service that appears to have been accessed without authorization. The files, which included driver information for licenses issued before February 2019, contained Texas driver license numbers, as well as names, dates of birth, addresses, and vehicle registration histories. The files did not contain any Social Security numbers or financial account information. These cases sought recovery under the Driver’s Privacy Protection Act, 18 U.S.C. § 2721. As set forth above, all of these matters against Vertafore have now been dismissed. Roper’s subsidiary, Verathon, Inc. (“Verathon”), was a defendant in a patent infringement action pending in the U.S. District Court for the Western District of Washington (Berall v. Verathon, Inc., Case 2:2021mc00043). The plaintiff claimed that video laryngoscopes and certain accessories sold by Verathon and other manufacturers from approximately 2004 through 2016 infringed U.S. Patent 5,827,178. Verathon and the plaintiff agreed to settle the matter for $45.0 which is recorded as a component of “Other income (expense), net” within the Consolidated Statement of Earnings for the year ended December 31, 2022. This matter was fully concluded and cash settled in the first quarter of 2023. As of December 31, 2023, Roper had $7.4 of letters of credit issued to guarantee its performance under certain services contracts or to support certain insurance programs and $50.8 of outstanding surety bonds. Certain contracts require Roper to provide a surety bond as a guarantee of its performance of contractual obligations.

- Definition

The entire disclosure for loss and gain contingencies. Describes any existing condition, situation, or set of circumstances involving uncertainty as of the balance sheet date (or prior to issuance of the financial statements) as to a probable or reasonably possible loss incurred by an entity that will ultimately be resolved when one or more future events occur or fail to occur, and typically discloses the amount of loss recorded or a range of possible loss, or an assertion that no reasonable estimate can be made.

+ References + Details

Stock-Based Compensation - Weighted-Average Assumptions (Details) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-Based Payment Arrangement [Abstract]
Weighted average fair value (in dollars per share)	$ 130.23	$ 116.55	$ 95.17
Risk-free interest rate (%)	3.76%	2.19%	0.94%
Expected option life (years)	5 years 7 months 9 days	5 years 7 months 17 days	5 years 7 months 9 days
Expected volatility (%)	26.05%	24.59%	25.14%
Expected dividend yield (%)	0.63%	0.55%	0.56%

Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

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
Goodwill acquired	2,559.1		—		—		2,559.1
Currency translation adjustments	(32.1)		(56.3)		(1.4)		(89.8)
Reclassifications and other	1.2		(0.7)		—		0.5
Balances at December 31, 2022	$	11,417.5	$	3,598.3	$	930.3	$	15,946.1
Goodwill acquired	1,189.6		—		—		1,189.6
Currency translation adjustments	15.2		26.3		0.5		42.0
Reclassifications and other	(58.9)		—		—		(58.9)
Balances at December 31, 2023	$	12,563.4	$	3,624.6	$	930.8	$	17,118.8

Reclassifications and other during the year ended December 31, 2023 relates to purchase accounting adjustments for acquisitions and is composed primarily of measurement period adjustments of $56.2 to decrease goodwill and deferred tax liabilities in connection with the Frontline opening balance sheet. Refer to Note 2 for information regarding acquisitions.

Other intangible assets were comprised of:


	Cost		Accumulated amortization		Net book value
Assets subject to amortization:
Customer related intangibles	$	9,300.7	$	(2,437.7)	$	6,863.0
Unpatented technology	954.6		(506.9)		447.7
Software	149.0		(134.0)		15.0
Patents and other protective rights	10.3		(1.2)		9.1
Trade names	9.7		(3.1)		6.6
Assets not subject to amortization:
Trade names	689.3		—		689.3
Balances at December 31, 2022	$	11,113.6	$	(3,082.9)	$	8,030.7

Assets subject to amortization:
Customer related intangibles	$	10,061.7	$	(3,000.5)	$	7,061.2
Unpatented technology	1,047.0		(638.8)		408.2
Software	149.2		(143.4)		5.8
Patents and other protective rights	10.3		(1.4)		8.9

Assets not subject to amortization:
Trade names	728.0		—		728.0
Balances at December 31, 2023	$	11,996.2	$	(3,784.1)	$	8,212.1

Amortization expense of other intangible assets was $698.4, $600.5, and $565.1 during the years ended December 31, 2023, 2022, and 2021, respectively. Amortization expense is expected to be $696.0 in 2024, $666.0 in 2025, $636.0 in 2026, $594.0 in 2027, and $553.0 in 2028.

Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Stock-Based Compensation Expense

Stock-based compensation expense for the years ended December 31, 2023, 2022, and 2021 included as a component of “Selling, general and administrative expenses” was as follows:


	2023		2022		2021
Stock-based compensation	$	123.5	$	117.8	$	123.0
Tax benefit recognized in net earnings	20.4		18.6		19.8

Schedule of Weighted-Average Assumptions of Stock-Based Compensation

The weighted-average fair value of options granted in 2023, 2022, and 2021 were calculated using the following weighted average assumptions:


	2023	2022	2021
Weighted-average fair value ($)	130.23	116.55	95.17
Risk-free interest rate (%)	3.76	2.19	0.94
Expected option life (years)	5.61	5.63	5.61
Expected volatility (%)	26.05	24.59	25.14
Expected dividend yield (%)	0.63	0.55	0.56

Schedule of Share-Based Compensation Activity

The following table summarizes stock option activities, with respect to the Company’s share-based compensation plans, for the years ended December 31, 2023 and 2022:


	Number of options	Weighted-average exercise price		Weighted-average remaining contractual term (years)	Aggregate intrinsic value
Outstanding at December 31, 2021	3.223	$	287.15
Granted	0.399	452.08
Exercised	(0.460)	239.11
Canceled	(0.177)	359.06
Outstanding at December 31, 2022	2.985	312.34		6.18	$	366.3
Granted	0.383	432.77
Exercised	(0.593)	246.77
Canceled	(0.087)	425.80
Outstanding at December 31, 2023	2.688	340.89		6.00	$	549.1
Exercisable at December 31, 2023	1.763	$	291.74	4.75	$	446.7

Schedule of Nonvested Restricted Stock Awards Activity

A summary of the Company’s nonvested shares activity for 2023 and 2022 is as follows:


	Number of shares	Weighted-average grant date fair value
Nonvested at December 31, 2021	0.498	$	365.79
Granted	0.271	446.42
Vested	(0.272)	360.14
Forfeited	(0.052)	386.06
Nonvested at December 31, 2022	0.445	416.00
Granted	0.280	439.72
Vested	(0.202)	406.36
Forfeited	(0.083)	434.87
Nonvested at December 31, 2023	0.440	$	431.96

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Statement of Comprehensive Income [Abstract]

Net earnings

$ 1,384.2

$ 4,544.7

$ 1,152.6

Other comprehensive income (loss), net of tax:

Foreign currency translation adjustments

^[1]

64.2

(3.9)

(36.1)

Total other comprehensive income (loss), net of tax

64.2

(3.9)

(36.1)

Comprehensive income

$ 1,448.4

$ 4,540.8

$ 1,116.5

[1]	In connection with the Indicor Transaction, we reclassified $142.6 of foreign currency translation adjustments to “Gain on disposition of discontinued operations, net of tax” during the year ended December 31, 2022.

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

CONSOLIDATED STATEMENTS OF EARNINGS - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
Net revenues	$ 6,177.8	$ 5,371.8	$ 4,833.8
Cost of sales	1,870.6	1,619.0	1,426.2
Gross profit	4,307.2	3,752.8	3,407.6
Selling, general and administrative expenses	2,562.0	2,228.3	2,072.0
Impairment of intangible assets	0.0	0.0	94.4
Income from operations	1,745.2	1,524.5	1,241.2
Interest expense, net	164.7	192.4	233.9
Equity investments activity, net	165.4	0.0	0.0
Other income (expense), net	(2.8)	(50.1)	24.6
Earnings before income taxes	1,743.1	1,282.0	1,031.9
Income taxes	374.7	296.4	226.6
Net earnings from continuing operations	1,368.4	985.6	805.3
Earnings (loss) from discontinued operations, net of tax	(4.1)	202.8	291.4
Gain on disposition of discontinued operations, net of tax	19.9	3,356.3	55.9
Net earnings from discontinued operations	15.8	3,559.1	347.3
Net earnings	$ 1,384.2	$ 4,544.7	$ 1,152.6
Net earnings per share from continuing operations:
Basic (in dollars per share)	$ 12.83	$ 9.31	$ 7.65
Diluted (in dollars per share)	12.74	9.23	7.56
Net earnings per share from discontinued operations:
Basic (in dollars per share)	0.15	33.61	3.30
Diluted (in dollars per share)	0.15	33.32	3.26
Net earnings per share:
Basic (in dollars per share)	12.98	42.92	10.95
Diluted (in dollars per share)	$ 12.89	$ 42.55	$ 10.82
Weighted average common shares outstanding:
Basic (in shares)	106.6	105.9	105.3
Diluted (in shares)	107.4	106.8	106.5

Inventories (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Inventories [Abstract]
Raw materials and supplies	$ 57.6	$ 60.6
Work in process	28.7	24.9
Finished products	41.8	31.3
Inventory reserves	(9.5)	(5.5)
Inventories, net	$ 118.6	$ 111.3

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Assets
Cash and cash equivalents	$ 214.3	$ 792.8
Accounts receivable, net	829.9	724.5
Inventories, net	118.6	111.3
Income taxes receivable	47.7	61.0
Unbilled receivables	106.4	91.5
Other current assets	164.5	151.3
Total current assets	1,481.4	1,932.4
Property, plant and equipment, net	119.6	85.3
Goodwill	17,118.8	15,946.1
Other intangible assets, net	8,212.1	8,030.7
Deferred taxes	32.2	55.9
Equity investments	795.7	535.0
Other assets	407.7	395.4
Total assets	28,167.5	26,980.8
Liabilities and Stockholders’ Equity
Accounts payable	143.0	122.6
Accrued compensation	250.0	228.8
Deferred revenue	1,583.8	1,370.7
Other accrued liabilities	446.5	454.6
Income taxes payable	40.4	16.6
Current portion of long-term debt, net	499.5	699.2
Total current liabilities	2,963.2	2,892.5
Long-term debt, net of current portion	5,830.6	5,962.5
Deferred taxes	1,513.1	1,676.8
Other liabilities	415.8	411.2
Total liabilities	10,722.7	10,943.0
Commitments and contingencies (Note 13)
Stockholders’ equity:
Preferred stock, $0.01 par value per share; 1.0 shares authorized; none outstanding	0.0	0.0
Common stock, $0.01 par value per share; 350.0 shares authorized; 108.6 shares issued and 106.9 outstanding at December 31, 2023 and 107.9 shares issued and 106.1 outstanding at December 31, 2022	1.1	1.1
Additional paid-in capital	2,767.0	2,510.2
Retained earnings	14,816.3	13,730.7
Accumulated other comprehensive loss	(122.8)	(187.0)
Treasury stock, 1.7 shares at December 31, 2023 and 1.8 shares at December 31, 2022	(16.8)	(17.2)
Total stockholders’ equity	17,444.8	16,037.8
Total liabilities and stockholders’ equity	$ 28,167.5	$ 26,980.8

Discontinued Operations

12 Months Ended

Dec. 31, 2023

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

The Company concluded that the 2021 Divestitures and the Indicor Transaction each represented a strategic shift that had a major effect on the Company’s operations and financial results. These transactions have greatly reduced the cyclicality and asset intensity of the Company. In addition, the Company has an increased mix of recurring revenue and a higher margin profile. Accordingly, the financial results related to the 2021 Divestitures and Indicor are presented in our Consolidated Financial Statements as discontinued operations for all periods presented.

2021 Divestitures – During 2021, the Company signed definitive agreements to divest its 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 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 on disposition of discontinued operations, net of tax” in our Consolidated Statement of Earnings for the year ended December 31, 2022. 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 in cash. The sale resulted in a pretax gain of $255.3 and income tax expense of $60.9, which are reported within “Gain on disposition of discontinued operations, net of tax” in our Consolidated Statement of Earnings for the year ended December 31, 2022. Zetec was previously included in the historical Process Technologies reportable segment.

•On November 1, 2021, Roper closed on the divestiture of our CIVCO Radiotherapy business to an affiliate of Blue Wolf Capital Partners LLC, for approximately $120 in cash. The sale resulted in a pretax gain of $77.2 and income tax expense of $21.3, which are reported within “Gain on disposition of discontinued operations, net of tax” in our Consolidated Statement of Earnings for the year ended December 31, 2021. The CIVCO Radiotherapy business was previously included in the historical Measurement & Analytical Solutions reportable segment.

The following table summarizes the major classes of revenues and expenses constituting net earnings from discontinued operations attributable to the TransCore, Zetec, and CIVCO Radiotherapy businesses:


	Year ended December 31,
	2022		2021
Net revenues	$	100.4	$	638.0
Cost of sales	71.2		372.9
Gross profit	29.2		265.1

Selling, general and administrative expenses (1)	19.9		124.0
Income from operations	9.3		141.1

Other income, net	0.1		1.5
Earnings before income taxes (2)	9.4		142.6

Income taxes	(6.2)		28.5
Earnings from discontinued operations, net of tax	15.6		114.1

Gain on disposition of discontinued operations, net of tax (3)	1,717.5		55.9

Net earnings from discontinued operations	$	1,733.1	$	170.0

(1) Includes stock-based compensation expense of $0.9 and $5.4 for the years ended December 31, 2022 and 2021, respectively. Stock-based compensation was previously reported as a component of unallocated corporate general and administrative expenses.

(2) During the year ended December 31, 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. Depreciation and amortization was $5.2 for the year ended December 31, 2021.

(3) Includes expense of $4.5 and $0.9 associated with accelerated vesting of share-based awards for the years ended December 31, 2022 and 2021, respectively.

Indicor – On November 22, 2022, Roper completed the divestiture of a majority 51% stake in Indicor to CD&R for approximately $2,604 in cash. The consideration was comprised of a cash distribution of approximately $1,775 funded by third-party indebtedness incurred by Indicor and approximately $829 related to the majority 51% equity stake. The Company retained an initial 49% minority equity interest. The sale resulted in a pretax gain of $2,046.0, which included $142.6 of foreign currency translation losses and $535.0 associated with the initial remaining 49% interest in Indicor (described further in Note 10). The Company recognized income tax expense of $407.2 associated with the gain.

The following table summarizes the major classes of revenues and expenses constituting net earnings from discontinued operations attributable to Indicor:


	Year ended December 31,
	2023			2022		2021
Net revenues	$	—		$	916.1	$	944.0
Cost of sales	—			432.1		434.2
Gross profit	—			484.0		509.8

Selling, general and administrative expenses (1)	2.3			250.5		265.7
Impairment of intangible assets	—			—		5.1
Income (loss) from operations	(2.3)			233.5		239.0

Other income (expense), net	—			(0.7)		0.1
Earnings (loss) before income taxes (2)	(2.3)			232.8		239.1

Income taxes	1.8			45.6		61.8
Earnings (loss) from discontinued operations, net of tax	(4.1)			187.2		177.3

Gain on disposition of discontinued operations, net of tax	19.9		(3)	1,638.8		—

Net earnings from discontinued operations	$	15.8		$	1,826.0	$	177.3

(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 $10.3 and $13.1 for the years ended December 31, 2022 and 2021, respectively.

(2) Includes depreciation and amortization of $6.4 and $18.2 for the years ended December 31, 2022 and 2021, respectively.

(3) Consists of adjustments subsequent to the sale primarily associated with income taxes.

Retirement and Other Benefit Plans	12 Months Ended
Retirement and Other Benefit Plans	Dec. 31, 2023
Retirement Benefits [Abstract]
Retirement and Other Benefit Plans	Retirement and Other Benefit Plans Roper maintains three defined contribution retirement plans under the provisions of Section 401(k) of the IRC covering substantially all U.S. employees. Roper partially matches employee contributions. Costs related to all such plans were $39.1, $34.1, and $30.2 for 2023, 2022, and 2021, respectively.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 70
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480794/715-70-50-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480482/715-20-55-17

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(03)
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-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
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-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (l)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//715/tableOfContent

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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-Name Accounting Standards Codification
-Section S99
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480126/715-20-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 60
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480266/715-60-50-3

+ Details

Long-Term Debt - Narrative (Details) - USD ($)				12 Months Ended
Long-Term Debt - Narrative (Details) - USD ($)	Sep. 15, 2023	Aug. 15, 2022	Jul. 21, 2022	Dec. 31, 2023	Dec. 31, 2022	Nov. 15, 2021	Sep. 02, 2020	Sep. 01, 2020	Jun. 22, 2020	Aug. 26, 2019	Aug. 28, 2018	Dec. 19, 2016	Dec. 07, 2015	Nov. 21, 2012
Debt Instrument [Line Items]
Outstanding letters of credit				$ 7,400,000
Senior notes
Debt Instrument [Line Items]
Redemption price percentage (as a percent)				100.00%
Credit Facility Member 2016 \| Credit facility
Debt Instrument [Line Items]
Long-term debt				$ 360,000,000.0	$ 0
$600 2.000% senior notes due 2030 \| Senior notes
Debt Instrument [Line Items]
Long-term debt				600,000,000.0	600,000,000.0
Face amount of debt									$ 600,000,000.0
Fixed interest rate (as a percent)									2.00%
$300 0.45% senior notes Due 2022 \| Senior notes
Debt Instrument [Line Items]
Face amount of debt								$ 300,000,000.0
Fixed interest rate (as a percent)								0.45%
$700 1.000% senior notes due 2025 \| Senior notes
Debt Instrument [Line Items]
Long-term debt				700,000,000.0	700,000,000.0
Face amount of debt								$ 700,000,000.0
Fixed interest rate (as a percent)								1.00%
$700 1.400% senior notes due 2027 \| Senior notes
Debt Instrument [Line Items]
Long-term debt				700,000,000.0	700,000,000.0
Face amount of debt								$ 700,000,000.0
Fixed interest rate (as a percent)								1.40%
$1,000 1.750% senior notes due 2031 \| Senior notes
Debt Instrument [Line Items]
Long-term debt				1,000,000,000	1,000,000,000
Face amount of debt								$ 1,000,000,000
Fixed interest rate (as a percent)								1.75%
$500 2.350% senior notes due 2024 \| Senior notes
Debt Instrument [Line Items]
Long-term debt				500,000,000.0	500,000,000.0
Face amount of debt										$ 500,000,000.0
Fixed interest rate (as a percent)										2.35%
$700 2.950% senior notes due 2029 \| Senior notes
Debt Instrument [Line Items]
Long-term debt				700,000,000.0	700,000,000.0
Face amount of debt										$ 700,000,000.0
Fixed interest rate (as a percent)										2.95%
Senior Notes Due 2028 \| Senior notes
Debt Instrument [Line Items]
Long-term debt				800,000,000.0	800,000,000.0
Face amount of debt											$ 800,000,000.0
Fixed interest rate (as a percent)											4.20%
Senior Notes 2021 \| Senior notes
Debt Instrument [Line Items]
Face amount of debt						$ 500,000,000.0						$ 500,000,000.0
Fixed interest rate (as a percent)						2.80%						2.80%
$700 3.800% senior notes due 2026 \| Senior notes
Debt Instrument [Line Items]
Face amount of debt												$ 700,000,000.0
Fixed interest rate (as a percent)												3.80%
$300 3.850% senior notes due 2025 \| Senior notes
Debt Instrument [Line Items]
Face amount of debt													$ 300,000,000.0
Fixed interest rate (as a percent)													3.85%
Senior Notes 2022 \| Senior notes
Debt Instrument [Line Items]
Face amount of debt														$ 500,000,000.0
Fixed interest rate (as a percent)														3.125%
$700 3.650% senior notes due 2023 \| Senior notes
Debt Instrument [Line Items]
Long-term debt				$ 0	$ 700,000,000.0
Fixed interest rate (as a percent)	3.65%
Repayments of debt	$ 700,000,000.0
Senior Notes Due 2022 \| Senior notes
Debt Instrument [Line Items]
Fixed interest rate (as a percent)		3.125%
Repayments of debt		$ 500,000,000.0
Senior Notes Due 2022 One \| Senior notes
Debt Instrument [Line Items]
Fixed interest rate (as a percent)		0.45%
Repayments of debt		$ 300,000,000.0
Minimum \| Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Basis spread on variable interest rate (as a percent)				0.795%
Senior unsecured, interest rate during period				0.00%
Maximum \| Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Basis spread on variable interest rate (as a percent)				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 (as a percent)				0.00%
Revolving credit facility \| Current Variable Rate In Effect \| Interest Rate Scenario One
Debt Instrument [Line Items]
Basis spread based on current rating (as a percent)				0.91%
Revolving credit facility \| JPMORGAN CHASE BANK N.A.
Debt Instrument [Line Items]
Debt term (in years)			5 years
Maximum borrowing capacity (up to)			$ 3,500,000,000				$ 3,000,000,000
Potential increase limit			500,000,000.0
Total Debt to Total Capital Ratio, minimum required				0.65
Letter of credit \| JPMORGAN CHASE BANK N.A.
Debt Instrument [Line Items]
Maximum borrowing capacity (up to)			$ 150,000,000.0

Cover - USD ($) $ in Billions	12 Months Ended
Cover - USD ($) $ in Billions	Dec. 31, 2023	Feb. 16, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Current Fiscal Year End Date	--12-31
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	6496 University Parkway
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	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction	false
Entity Shell Company	false
Entity Public Float			$ 51.1
Entity Common Stock, Shares Outstanding		107,022,333
Documents Incorporated by Reference	Portions of the registrant’s Proxy Statement to be furnished to stockholders in connection with its 2024 Annual Meeting of Stockholders are incorporated by reference into Part III, Items 10, 11, 12, 13, and 14 of this Annual Report on Form 10-K.
Entity Central Index Key	0000882835
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false

Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Federal statutory tax rate	21.00%	21.00%	21.00%
Foreign operations, net	0.50%	0.80%	2.50%
R&D tax credits	(1.90%)	(3.00%)	(2.10%)
State taxes, net of federal benefit	3.50%	3.70%	2.80%
Stock-based compensation	(1.50%)	(1.00%)	(2.40%)
Impact of UK tax rate change	0.00%	0.00%	2.00%
Legal entity restructuring	(0.40%)	0.80%	(1.40%)
Other, net	0.30%	0.80%	(0.40%)
Effective tax rate	21.50%	23.10%	22.00%

Long-Term Debt - Future Maturities of Long-Term Debt (Details) $ in Millions	Dec. 31, 2023 USD ($)
Debt Disclosure [Abstract]
2024	$ 500.1
2025	1,000.1
2026	700.0
2027	1,060.0
2028	800.0
Thereafter	2,300.0
Total debt	$ 6,360.2

Contract Balances (Tables)

12 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Schedule of Contract Balances

Contract balances at December 31 are set forth in the following table:



Balance sheet account	2023		2022		Change
Unbilled receivables	$	106.4	$	91.5	$	14.9
Deferred revenue – current	(1,583.8)		(1,370.7)		(213.1)
Deferred revenue – non-current	(130.7)		(111.5)		(19.2)
Net contract assets/(liabilities)	$	(1,608.1)	$	(1,390.7)	$	(217.4)

Contingencies (Details) individual in Millions, $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2023 USD ($)	Dec. 31, 2023 USD ($) claim individual data_file
Loss Contingencies [Line Items]
Outstanding letters of credit		$ 7.4
Outstanding surety bonds		$ 50.8
Vertafore Litigation
Loss Contingencies [Line Items]
Number of class actions \| claim		3
Number of individuals represented \| individual		27.7
Number of data files stored in unsecured external storage device \| data_file		3
Vertafore Litigation \| Other Nonoperating Income (Expense)
Loss Contingencies [Line Items]
Litigation settlement, expense	$ 45.0
Allen, et al. v. Vertafore, Inc.
Loss Contingencies [Line Items]
Number of class actions \| claim		2
Mulvey, et al. v. Vertafore, Inc.
Loss Contingencies [Line Items]
Number of class actions \| claim		1
PowerPlan, Inc \| Pending Litigation
Loss Contingencies [Line Items]
Damages sought by plaintiff		$ 66.0

Leases - Future Minimum Lease Payments (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
2024	$ 47.9
2025	42.9
2026	35.1
2027	28.3
2028	21.9
Thereafter	44.6
Total operating lease payments	220.7
Less: Imputed interest	18.7
Total operating lease liabilities	$ 202.0	$ 210.6

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Schedule of Long-Term Debt

Total debt at December 31 consisted of the following:


	2023		2022
Unsecured credit facility	$	360.0	$	—
$700 3.650% senior notes due 2023	—		700.0
$500 2.350% senior notes due 2024	500.0		500.0
$300 3.850% senior notes due 2025	300.0		300.0
$700 1.000% senior notes due 2025	700.0		700.0
$700 3.800% senior notes due 2026	700.0		700.0
$700 1.400% senior notes due 2027	700.0		700.0
$800 4.200% senior notes due 2028	800.0		800.0
$700 2.950% senior notes due 2029	700.0		700.0
$600 2.000% senior notes due 2030	600.0		600.0
$1,000 1.750% senior notes due 2031	1,000.0		1,000.0
Other	0.2		0.3
Less: Deferred financing costs	(30.1)		(38.6)
Total debt, net of deferred financing costs	6,330.1		6,661.7
Less: Current portion	(499.5)		(699.2)
Long-term debt, net of deferred financing costs	$	5,830.6	$	5,962.5

Schedule of Future Maturities of Long-Term Debt

Future maturities of total debt during each of the next five years ending December 31 and thereafter are as follows:


2024	$	500.1
2025	1,000.1
2026	700.0
2027	1,060.0
2028	800.0
Thereafter	2,300.0
Total debt	$	6,360.2

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details

Quarterly Financial Data (unaudited) (Tables)

12 Months Ended

Dec. 31, 2023

Quarterly Financial Data [Abstract]

Schedule of Quarterly Financial Data


	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
2023
Net revenues	$	1,469.7	$	1,531.2	$	1,563.4	$	1,613.5
Gross profit	1,018.6		1,067.1		1,096.3		1,125.2
Income from operations	401.0		435.3		446.1		462.8
Net earnings from continuing operations	284.3		361.0		345.6		377.5
Net earnings (loss) from discontinued operations	(1.2)		3.9		1.6		11.5
Net earnings	283.1		364.9		347.2		389.0

Net earnings per share from continuing operations:
Basic	$	2.67	$	3.38	$	3.23	$	3.53
Diluted	$	2.66	$	3.36	$	3.21	$	3.50

Net earnings (loss) per share from discontinued operations:
Basic	$	(0.01)	$	0.04	$	0.02	$	0.11
Diluted	$	(0.01)	$	0.04	$	0.02	$	0.11

Net earnings per share:
Basic	$	2.66	$	3.42	$	3.25	$	3.64
Diluted	$	2.65	$	3.40	$	3.23	$	3.61

2022
Net revenues	$	1,279.8	$	1,310.8	$	1,350.3	$	1,430.9
Gross profit	897.2		911.5		941.8		1,002.3
Income from operations	355.9		362.9		393.2		412.5
Net earnings from continuing operations	236.4		225.0		276.9		247.3
Net earnings from discontinued operations	1,784.1		43.8		50.1		1,681.1
Net earnings	2,020.5		268.8		327.0		1,928.4

Net earnings per share from continuing operations:
Basic	$	2.24	$	2.13	$	2.61	$	2.33
Diluted	$	2.22	$	2.11	$	2.59	$	2.32

Net earnings per share from discontinued operations:
Basic	$	16.89	$	0.41	$	0.47	$	15.85
Diluted	$	16.72	$	0.41	$	0.47	$	15.74

Net earnings per share:
Basic	$	19.13	$	2.54	$	3.08	$	18.18
Diluted	$	18.94	$	2.52	$	3.06	$	18.06

Inventories (Tables)

12 Months Ended

Dec. 31, 2023

Inventory Disclosure [Abstract]

Schedule of Inventories

The components of inventories at December 31 were as follows:


	2023		2022
Raw materials and supplies	$	57.6	$	60.6
Work in process	28.7		24.9
Finished products	41.8		31.3
Inventory reserves	(9.5)		(5.5)
Inventories, net	$	118.6	$	111.3

Summary of Accounting Policies - Schedule of Weighted Average Diluted Shares Outstanding (Details) - shares shares in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Basic weighted-average shares outstanding (in shares)	106.6	105.9	105.3
Effect of potential common stock:
Common stock awards (in shares)	0.8	0.9	1.2
Diluted weighted-average shares outstanding (in shares)	107.4	106.8	106.5

Other Accrued Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Accrued Liabilities [Abstract]
Interest	$ 33.6	$ 40.2
Customer deposits	45.2	48.9
Accrued dividends	82.5	74.0
Rebates	81.2	51.5
Operating lease liabilities	43.3	46.4
Sales and other taxes payable	31.8	22.9
Patent litigation accrual	0.0	45.0
Other	128.9	125.7
Other accrued liabilities	$ 446.5	$ 454.6

Other Accrued Liabilities

12 Months Ended

Dec. 31, 2023

Accrued Liabilities [Abstract]

Other Accrued Liabilities

Other accrued liabilities at December 31 were as follows:


	2023		2022
Interest	$	33.6	$	40.2
Customer deposits	45.2		48.9
Accrued dividends	82.5		74.0
Rebates	81.2		51.5
Operating lease liabilities	43.3		46.4
Sales and other taxes payable	31.8		22.9
Patent litigation accrual (1)	—		45.0
Other	128.9		125.7
Other accrued liabilities	$	446.5	$	454.6

(1) Refer to Note 13 for details regarding the settlement of the Berall v. Verathon patent litigation matter.

Summary of Accounting Policies (Policies)	12 Months Ended
Summary of Accounting Policies (Policies)	Dec. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation – These financial statements present consolidated information for Roper Technologies, Inc. and its subsidiaries (“Roper,” the “Company,” “we,” “our,” or “us”). All significant intercompany accounts and transactions have been eliminated. Certain prior period amounts have been reclassified to conform to current period presentation.
Discontinued Operations	Discontinued Operations – On November 22, 2022, the Company completed the divestiture of a majority 51% equity stake in its industrial businesses, including its entire historical Process Technologies reportable segment and the industrial businesses within its historical Measurement & Analytical Solutions reportable segment, to Clayton, Dubilier & Rice, LLC (“CD&R”). The businesses included in this transaction were Alpha, AMOT, CCC, Cornell, Dynisco, FTI, Hansen, Hardy, Logitech, Metrix, PAC, Roper Pump, Struers, Technolog, Uson, and Viatran (collectively “Indicor”). Following the sale of the majority stake, the Company retained a minority equity interest in Indicor. This transaction is referred to herein as the “Indicor Transaction.” See Note 10 for additional information on this minority equity interest.
Recent Accounting Pronouncements	Recent Accounting Pronouncements – The Financial Accounting Standards Board (“FASB”) establishes changes to accounting principles under GAAP in the form of accounting standards updates (“ASUs”) to the FASB’s Accounting Standards Codification (“ASC”). The Company considers the applicability and impact of all ASUs. Any recent ASUs not listed below were assessed and either determined to be not applicable or are expected to have an immaterial impact on the Company’s results of operations, financial position, or cash flows. Recently Adopted Accounting Pronouncements In October 2021, the FASB issued an update to improve the accounting for acquired revenue contracts with customers in a business combination by promoting consistency in the recognition of an acquired contract liability and the subsequent revenue recognized by the acquirer. The update is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, with early adoption permitted. The Company early-adopted this update in the fourth quarter of 2021. This update did not have a material impact on the acquisitions completed in the year of adoption. Recently Released Accounting Pronouncements In November 2023, the FASB issued Accounting Standards Update No. 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures” (ASU 2023-07), which expands reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. This guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company is currently evaluating the potential impact of adopting this new guidance on its Consolidated Financial Statements and related disclosures. In December 2023, the FASB issued Accounting Standards Update No. 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures” (ASU 2023-09), which expands income tax disclosure requirements, including disaggregation of rate reconciliation table categories, disaggregation of earnings before income taxes and income tax expense information, and disaggregation of income taxes paid information, among other changes. This guidance is effective for annual periods beginning after December 15, 2024. Early adoption is permitted. The Company is currently evaluating the potential impact of adopting this new guidance on its Consolidated Financial Statements and related disclosures.
Cash and Cash Equivalents	Cash and Cash Equivalents – Roper considers highly liquid financial instruments with remaining maturities at acquisition of three months or less to be cash equivalents.
Contingencies	Contingencies – Management continually assesses the probability of any adverse judgments or outcomes to its potential contingencies. Disclosure of the contingency is made if there is at least a reasonable possibility that a loss or an additional loss may have been incurred. In the assessment of contingencies as of December 31, 2023, management concluded that there were no matters for which there was a reasonable possibility of a material loss. See Note 13 for additional information.
Earnings per Share	Earnings per Share – Basic earnings per share was calculated using net earnings and the weighted average number of shares of common stock outstanding during the respective year. Diluted earnings per share was calculated using net earnings and the weighted average number of shares of common stock and potential common stock associated with stock options outstanding during the respective year.
Equity Investment	Equity Investments – As of December 31, 2023 and 2022, the Company held a 47.3% and 49.0% minority equity interest in Indicor, respectively. This equity interest provides us with the ability to exercise significant influence, but not control, over the investee. We elected to apply the fair value option as we believe this is the most reasonable method to value this equity investment. The fair value of our equity investment in Indicor is updated on a quarterly basis and its impact is reported as a component of “Equity investments activity, net” in our Consolidated Statement of Earnings. See Note 10 for additional information on this investment. In 2023, the Company acquired an 18.2% limited partnership minority interest in CI Ultimate Holdings, L.P., the parent entity of Certinia Inc., which provides us with the ability to exercise significant influence, but not control, over the investee. This equity investment is accounted for under the equity method of accounting whereby our proportionate share of earnings or loss associated with the investment is reported as a component of “Equity investments activity, net” in our Consolidated Statement of Earnings with a corresponding change in the balance of our equity investment. Our proportionate share of loss associated with our investment in Certinia was $5.2 for the year ended December 31, 2023. The balance of our equity investment in Certinia, reported as a component of “Equity investments” in our Consolidated Balance Sheet, was $119.8 as of December 31, 2023. Estimates – The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities. Actual results could differ from those estimates.
Foreign Currency Translation and Transactions	Foreign Currency Translation and Transactions – Assets and liabilities of subsidiaries whose functional currency is not the U.S. dollar were translated at the exchange rate in effect at the balance sheet date, and revenues and expenses were translated at average exchange rates for the period in which those entities were included in Roper’s financial results. Translation adjustments are reflected within other comprehensive income. Foreign currency transaction gains and losses are recorded in our Consolidated Statements of Earnings within “Other income (expense), net.” Foreign currency transaction gains/(losses) were not material for any periods presented.
Goodwill and Other Intangibles	Goodwill and Other Intangibles – Roper accounts for goodwill in a purchase business combination as the excess of the cost over the estimated fair value of net assets acquired. Business combinations can also result in other intangible assets being recognized. Amortization of intangible assets, if applicable, occurs over their estimated useful lives. Goodwill, which is not amortized, is tested for impairment on an annual basis (or 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). When testing goodwill for impairment, the Company has the option to first assess qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the estimated fair value of a reporting unit is less than its carrying amount. If the Company elects to perform a qualitative assessment and determines that an impairment is more likely than not, then performance of the quantitative impairment test is required. The quantitative process utilizes both an income approach (discounted cash flow) and a market approach (consisting of a comparable public company earnings multiples methodology) to estimate the fair value of a reporting unit. To determine the reasonableness of the estimated fair values, the Company reviews the assumptions to ensure that neither the income approach nor the market approach provides significantly different valuations. If the estimated fair value exceeds the carrying value, no further work is required and no impairment loss is recognized. If the carrying value exceeds the estimated fair value, a non-cash impairment loss is recognized in the amount of that excess. When performing the quantitative assessment, key assumptions used in the income and market methodologies are updated when the analysis is performed for each reporting unit. The assumptions that have the most significant effect on the fair value calculations are the projected revenue growth rates, future operating margins, discount rates, terminal values, and earnings multiples. While the Company uses reasonable and timely information to prepare its discounted cash flow analysis, actual future cash flows or market conditions could differ significantly resulting in future impairment charges related to recorded goodwill balances. As of the annual impairment test, Roper has 22 reporting units with individual goodwill amounts ranging from $17.5 to $3,363.6. In 2023, the Company performed its annual impairment test in the fourth quarter for all reporting units. The Company conducted its analysis qualitatively and assessed whether it was more likely than not that the respective fair value of these reporting units was less than the carrying amount. The Company determined that impairment of goodwill was not likely in any of its reporting units and thus was not required to perform a quantitative analysis for these reporting units. Recently acquired reporting units generally represent a higher inherent risk of impairment, which typically decreases as the businesses are integrated into the enterprise. Negative industry or economic trends, disruptions to its business, actual results significantly below expected results, unexpected significant changes or planned changes in the use of the assets, divestitures, and market capitalization declines may have a negative effect on the fair value of Roper’s reporting units. The following events or circumstances, although not comprehensive, would be considered to determine whether interim testing of goodwill would be required: •a significant adverse change in legal factors or in the business climate; •an adverse action or assessment by a regulator; •unanticipated competition; •a loss of key personnel; •a more-likely-than-not expectation that a reporting unit or a significant portion of a reporting unit will be sold or otherwise disposed of; •the testing for recoverability of a significant asset group within a reporting unit; and •recognition of a goodwill impairment loss in the financial statements of a subsidiary that is a component of a reporting unit. Business combinations can also result in other intangible assets being recognized. Amortization of intangible assets, if applicable, occurs over their estimated useful lives. Trade names that are determined to have indefinite useful economic lives are not amortized, but are separately tested for impairment during the fourth quarter of the fiscal year or on an interim basis if an event occurs that indicates the fair value is more likely than not below the carrying value. Roper first qualitatively assesses whether the existence of events or circumstances leads to a determination that it is more likely than not that the estimated fair value of an indefinite-lived trade name is less than its carrying amount. If necessary, Roper conducts a quantitative review using the relief-from-royalty method. This methodology assumes that, in lieu of ownership, a third party would be willing to pay a royalty in order to exploit the related benefits of these assets. To the extent the Company determines a fair value, the inputs used represent a Level 3 fair value measurement in the FASB fair value hierarchy given that the inputs are unobservable. The assumptions that have the most significant effect on the fair value calculations are the royalty rates, projected revenue growth rates, discount rates, and terminal values. Each royalty rate is determined based on the profitability of the trade name to which it relates and observed market royalty rates. Revenue growth rates are determined after considering current and future economic conditions, recent sales trends, discussions with customers, planned timing of new product launches, or other variables. Trade names resulting from recent acquisitions generally represent the highest risk of impairment, which typically decreases as the businesses are integrated into Roper. During the fourth quarter of 2021, the Company determined that the use of the Sunquest trade name would be discontinued given the strategic action to merge the Sunquest business into our Clinisys business, both of which are reported in our Application Software reportable segment. Considering the planned merger and updated market comparisons, the royalty rate utilized in the quantitative impairment assessment of the trade name was 0.5% as compared to a royalty rate of 3.5% used in the prior year. The royalty rate reduction was the significant assumption that resulted in a non-cash impairment charge of $94.4 recognized as “Impairment of intangible assets” within our Consolidated Statement of Earnings. The assessment of fair value for impairment purposes requires significant judgments to be made by management. Although forecasts are based on assumptions that are considered reasonable by management and consistent with the plans and estimates management uses to operate the underlying businesses, there is significant judgment in estimating future operating results. Changes in estimates or the application of alternative assumptions could produce significantly different results. The most significant identifiable intangible assets with definite useful economic lives recognized from our acquisitions are customer relationships. The fair value for customer relationships is determined as of the acquisition date using the excess earnings method. Under this methodology the fair value is determined based on the estimated future after-tax cash flows arising from the acquired customer relationships over their estimated lives after considering customer attrition and contributory asset charges. The assumptions that have the most significant effect on the fair value calculations are the customer attrition rates, projected customer revenue growth rates, margins, contributory asset charges, and discount rates. When testing customer relationship intangible assets for potential impairment, management considers historical customer attrition rates and projected revenues and profitability related to customers that existed at acquisition. In evaluating the amortizable life for customer relationship intangible assets, management considers historical customer attrition patterns. Roper evaluates whether there has been an impairment of identifiable intangible assets with definite useful economic lives, or of the remaining life of such assets, when certain indicators of impairment are present. In the event that facts and circumstances indicate that the cost or remaining period of amortization of any asset may be impaired, an evaluation of recoverability would be performed. If an evaluation is required, the estimated future gross, undiscounted cash flows associated with the asset would be compared to the asset’s carrying amount to determine if a write-down to fair value or a revision in the remaining amortization period is required.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets – The Company determines whether there has been an impairment of long-lived assets, excluding goodwill and other intangible assets, when certain indicators of impairment are present. In the event that facts and circumstances indicate that the cost or life of any long-lived assets may be impaired, an evaluation of recoverability would be performed. If an evaluation is required, the estimated future gross, undiscounted cash flows associated with the asset would be compared to the asset’s carrying amount to determine if a write-down to fair value or a revision to the remaining life is required. Future adverse changes in market conditions or poor operating results of underlying long-lived assets could result in losses or an inability to recover the carrying value of the long-lived assets that may not be reflected in the assets’ current carrying value, thereby possibly requiring an impairment charge or acceleration of depreciation or amortization expense in the future.
Income Taxes	Income Taxes – The Company recognizes in the Consolidated Financial Statements only those tax positions determined to be “more likely than not” of being sustained upon examination based on the technical merits of the positions. Interest and penalties related to unrecognized tax benefits are classified as a component of income tax expense. The Company records a valuation allowance to reduce its deferred tax assets if, based on the weight of available evidence, both positive and negative, for each respective tax jurisdiction, it is more likely than not that some portion or all of such deferred tax assets will not be realized. Available evidence which is considered in determining the amount of valuation allowance required includes, but is not limited to, the Company’s estimate of future taxable income and any applicable tax planning strategies. Certain assets and liabilities have different bases for financial reporting and income tax purposes. Deferred income taxes have been provided for these differences at the enacted tax rates expected to be paid.
Inventories	Inventories – Inventories are valued at the lower of cost and net realizable value. Cost is determined using the first-in, first-out method. The Company writes down its inventory for estimated obsolescence or excess inventory equal to the difference between the cost of inventory and the estimated net realizable value based upon assumptions about future demand and market conditions.
Product Warranties	Product Warranties – The Company sells certain of its products to customers with a product warranty that allows customers to return a defective product during a specified warranty period following the purchase in exchange for a replacement product, repair at no cost to the customer, or the issuance of a credit to the customer. The Company accrues its estimated exposure to warranty claims based upon current and historical product sales data, warranty costs incurred, and any other related information known to the Company.
Property, Plant and Equipment and Depreciation and Amortization	Property, Plant and Equipment and Depreciation and Amortization – Property, plant and equipment is stated at cost less accumulated depreciation and amortization.
Research, Development and Engineering	Research, Development and Engineering – Research, development and engineering (“R,D&E”) costs include salaries and benefits, rents, supplies, and other costs related to products under development or improvements to existing products. R,D&E costs are expensed as incurred and are included within selling, general and administrative expenses.
Revenue Recognition	Revenue Recognition – The reported results reflect the application of ASC 606 guidance. The amount of revenue recognized reflects the consideration which the Company expects to be entitled to receive in exchange for these products and/or services. To achieve this principle, the Company applies the following five steps: •identify the contract with the customer; •identify the performance obligations in the contract; •determine the transaction price; •allocate the transaction price to performance obligations in the contract; and •recognize revenue when or as the Company satisfies a performance obligation. We recognize revenue over time or at a point in time depending on our evaluation of when the customer obtains control over the promised products or services. For software arrangements that include multiple performance obligations, we allocate revenue to each performance obligation based on estimates of the price that we would charge the customer for each promised product or service if it were sold on a standalone basis. Software licenses may be combined with implementation/installation services as a single performance obligation if the implementation/installation significantly modifies or customizes the functionality of the software license. Software and related services •Recurring – consists primarily of SaaS subscriptions and post-contract support (“PCS”) which are recognized ratably over the contractual term and annual term software licenses which are generally recognized at a point in time. •Reoccurring – consists primarily of transactional and volume-based fees which are highly reoccurring and recognized at a point in time under a usage-based model. •Non-recurring – consists primarily of perpetual, multi-year term software licenses, or installation/implementation services and associated hardware. Revenues from perpetual and multi-year term licenses are generally recognized at a point in time. Revenues from software implementation projects are generally recognized over time using the input method, utilizing the ratio of costs or labor hours incurred to total estimated costs or labor, as the measure of performance. Payment for software licenses is generally required within 30 to 60 days of the transfer of control. Payment for PCS is generally required within 30 to 60 days of the commencement of the service period, which is primarily offered to customers over a one-year timeframe. Payment terms do not contain a significant financing component. Payment for implementation/installation services that are recognized over time is typically commensurate with milestones defined in the contract, or billable hours incurred. Products Revenue from product sales is recognized when control transfers to the customer, which is generally when the product is shipped. Non-project-based installation and repair services are performed by certain of our businesses for which revenue is recognized upon completion. Payment terms are generally 30 to 60 days from the transfer of control. Payment terms do not contain a significant financing component. Accounts receivable, net – Accounts receivable, net includes amounts billed and currently due from customers. The amounts due are stated at their net estimated realizable value. Accounts receivable are stated net of an allowance for doubtful accounts and sales allowances of $22.2 and $16.6 at December 31, 2023 and 2022, respectively. We make estimates of expected allowance for doubtful accounts based upon our assessment of various factors, including historical experience, the age of the accounts receivable balances, changes to customer creditworthiness, and other factors that may affect our ability to collect from customers. Unbilled receivables – Our unbilled receivables include unbilled amounts typically resulting from sales under software milestone billings associated with multi-year term license renewals and software implementations when the input method of revenue recognition is utilized and revenue recognized exceeds the amount billed to the customer, and right to payment is not solely due to the passage of time. Amounts may not exceed their net realizable value. Deferred revenue – We record deferred revenue when cash payments are received or due in advance of our performance. Our deferred revenue relates primarily to software and related services. In most cases, we recognize deferred revenue ratably over time as the SaaS or PCS performance obligation is satisfied. The non-current portion of deferred revenue is included in “Other liabilities” in our Consolidated Balance Sheets. Our unbilled receivables and deferred revenue are reported in a net position on a contract-by-contract basis at the end of each reporting period. The net balances are classified as current or non-current based on expected timing of revenue recognition and billable milestones. Deferred commissions – Our incremental direct costs of obtaining a contract, which consist of sales commissions primarily for our software sales, are deferred and amortized on a straight-line basis over the period of contract performance or a longer period, depending on facts and circumstances. We classify deferred commissions as current or non-current based on the expected timing of expense recognition. Where the amortization period would have been one year or less, we expense the associated incremental direct cost as incurred. The current and non-current portions of deferred commissions are included in “Other current assets” and “Other assets,” respectively, in our Consolidated Balance Sheets.Remaining performance obligations – Remaining performance obligations represent the transaction price of firm orders for which work has not been performed, excluding unexercised contract options.
Capitalized Software	Capitalized Software – The Company accounts for capitalized software under applicable accounting guidance which, among other provisions, requires capitalization of certain internal-use software costs once certain criteria are met. Overhead, general and administrative, and training costs are not capitalized.
Stock-Based Compensation	Stock-Based Compensation – The Company recognizes expense for the grant date fair value of its employee stock awards on a straight-line basis (or, in the case of performance-based awards, on a graded basis) over the employee’s requisite service period (generally the vesting period of the award). The fair value of option awards is estimated using the Black-Scholes option valuation model.

Goodwill and Other Intangible Assets - Schedule of Goodwill (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Goodwill [Roll Forward]
Beginning balances	$ 15,946.1	$ 13,476.3
Goodwill acquired	1,189.6	2,559.1
Currency translation adjustments	42.0	(89.8)
Reclassifications and other	(58.9)	0.5
Ending balances	17,118.8	15,946.1
Application Software
Goodwill [Roll Forward]
Beginning balances	11,417.5	8,889.3
Goodwill acquired	1,189.6	2,559.1
Currency translation adjustments	15.2	(32.1)
Reclassifications and other	(58.9)	1.2
Ending balances	12,563.4	11,417.5
Network Software
Goodwill [Roll Forward]
Beginning balances	3,598.3	3,655.3
Goodwill acquired	0.0	0.0
Currency translation adjustments	26.3	(56.3)
Reclassifications and other	0.0	(0.7)
Ending balances	3,624.6	3,598.3
Technology Enabled Products
Goodwill [Roll Forward]
Beginning balances	930.3	931.7
Goodwill acquired	0.0	0.0
Currency translation adjustments	0.5	(1.4)
Reclassifications and other	0.0	0.0
Ending balances	$ 930.8	$ 930.3

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Segment and Geographic Area Information - Schedule of Reporting Information (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Net revenues	$ 1,613.5	$ 1,563.4	$ 1,531.2	$ 1,469.7	$ 1,430.9	$ 1,350.3	$ 1,310.8	$ 1,279.8	$ 6,177.8	$ 5,371.8	$ 4,833.8
Cost of sales									1,870.6	1,619.0	1,426.2
Selling, general and administrative expenses									2,562.0	2,228.3	2,072.0
Research, development and engineering costs									646.1	529.8	484.8
Operating profit									1,745.2	1,524.5	1,335.6
Assets:
Operating assets	1,338.9				1,163.9				1,338.9	1,163.9	1,057.6
Intangible assets, net	25,330.9				23,976.8				25,330.9	23,976.8	19,985.4
Other	1,497.7				1,840.1				1,497.7	1,840.1	788.0
Total assets	28,167.5				26,980.8				28,167.5	26,980.8	21,831.0
Capital expenditures									68.0	40.1	28.5
Capitalized software expenditures									40.0	30.2	29.7
Depreciation and other amortization									755.2	650.1	615.9
Stock-based compensation									123.5	117.8	123.0
Impairment of intangible assets									0.0	0.0	94.4
Disposal group, held-for-sale, not discontinued operations \| Industrial Businesses
Assets:
Operating assets classified as held for sale											1,882.9
Application Software
Segment Reporting Information [Line Items]
Net revenues									3,186.9	2,639.5	2,366.7
Network Software
Segment Reporting Information [Line Items]
Net revenues									1,439.4	1,378.5	1,223.8
Technology Enabled Products
Segment Reporting Information [Line Items]
Net revenues									1,551.5	1,353.8	1,243.3
Operating Segments \| Application Software
Segment Reporting Information [Line Items]
Net revenues									3,186.9	2,639.5	2,366.7
Operating profit									820.8	714.0	633.1
Assets:
Operating assets	730.8				624.7				730.8	624.7	576.0
Intangible assets, net	19,242.4				17,758.4				19,242.4	17,758.4	13,498.4
Other	377.7				340.2				377.7	340.2	205.8
Capital expenditures									20.1	20.7	18.0
Capitalized software expenditures									39.5	28.5	26.3
Depreciation and other amortization									563.0	455.8	418.7
Operating Segments \| Network Software
Segment Reporting Information [Line Items]
Net revenues									1,439.4	1,378.5	1,223.8
Operating profit									632.4	570.6	476.8
Assets:
Operating assets	235.6				224.7				235.6	224.7	215.5
Intangible assets, net	5,005.9				5,118.5				5,005.9	5,118.5	5,364.8
Other	122.3				124.2				122.3	124.2	50.4
Capital expenditures									6.4	8.8	5.0
Capitalized software expenditures									0.5	1.7	3.4
Depreciation and other amortization									162.5	164.2	164.8
Operating Segments \| Technology Enabled Products
Segment Reporting Information [Line Items]
Net revenues									1,551.5	1,353.8	1,243.3
Operating profit									518.7	449.1	415.6
Assets:
Operating assets	337.5				307.4				337.5	307.4	250.7
Intangible assets, net	1,082.6				1,099.9				1,082.6	1,099.9	1,122.2
Other	65.5				95.4				65.5	95.4	33.8
Capital expenditures									13.8	9.2	4.5
Capitalized software expenditures									0.0	0.0	0.0
Depreciation and other amortization									29.1	29.8	32.1
Corporate
Segment Reporting Information [Line Items]
Net revenues									0.0	0.0	0.0
Operating profit									(226.7)	(209.2)	(189.9)
Assets:
Operating assets	35.0				7.1				35.0	7.1	15.4
Intangible assets, net	0.0				0.0				0.0	0.0	0.0
Other	$ 932.2				$ 1,280.3				932.2	1,280.3	498.0
Capital expenditures									27.7	1.4	1.0
Capitalized software expenditures									0.0	0.0	0.0
Depreciation and other amortization									$ 0.6	$ 0.3	$ 0.3

Inventories

12 Months Ended

Dec. 31, 2023

Inventory Disclosure [Abstract]

Inventories

The components of inventories at December 31 were as follows:


	2023		2022
Raw materials and supplies	$	57.6	$	60.6
Work in process	28.7		24.9
Finished products	41.8		31.3
Inventory reserves	(9.5)		(5.5)
Inventories, net	$	118.6	$	111.3

Retirement and Other Benefit Plans (Details) $ in Millions	12 Months Ended
Retirement and Other Benefit Plans (Details) $ in Millions	Dec. 31, 2023 USD ($) plan	Dec. 31, 2022 USD ($) plan	Dec. 31, 2021 USD ($) plan
Retirement Benefits [Abstract]
Number of defined contribution plans maintained by the company \| plan	3	3	3
Defined contribution retirement plan cost \| $	$ 39.1	$ 34.1	$ 30.2

Concentration of Risk	12 Months Ended
Concentration of Risk	Dec. 31, 2023
Risks and Uncertainties [Abstract]
Concentration of Risk	Concentration of Risk Financial instruments which potentially subject the Company to credit risk consist primarily of cash and cash equivalents, trade receivables, and unbilled receivables. The Company maintains cash and cash equivalents with various major financial institutions around the world. The Company limits the amount of credit exposure with any one financial institution and believes that no significant concentration of credit risk exists with respect to cash and cash equivalent balances. Trade and unbilled receivables subject the Company to the potential for credit risk with customers. To reduce credit risk, the Company performs ongoing evaluations of its customers’ financial condition.

Goodwill and Other Intangible Assets - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 719.8	$ 612.8	$ 571.9
Amortization expense, 2024	696.0
Amortization expense, 2025	666.0
Amortization expense, 2026	636.0
Amortization expense, 2027	594.0
Amortization expense, 2028	553.0
Frontline Acquisition
Finite-Lived Intangible Assets [Line Items]
Decrease to goodwill and deferred tax liabilities	56.2
Other Intangible Assets
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 698.4	$ 600.5	$ 565.1

Other Accrued Liabilities (Tables)

12 Months Ended

Dec. 31, 2023

Accrued Liabilities [Abstract]

Schedule of Accrued Liabilities

Other accrued liabilities at December 31 were as follows:


	2023		2022
Interest	$	33.6	$	40.2
Customer deposits	45.2		48.9
Accrued dividends	82.5		74.0
Rebates	81.2		51.5
Operating lease liabilities	43.3		46.4
Sales and other taxes payable	31.8		22.9
Patent litigation accrual (1)	—		45.0
Other	128.9		125.7
Other accrued liabilities	$	446.5	$	454.6

(1) Refer to Note 13 for details regarding the settlement of the Berall v. Verathon patent litigation matter.

Leases (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Schedule of Supplemental Cash Flow and Other Information

The following table presents the supplemental cash flow information related to the Company’s operating leases for the years ended December 31:


	2023		2022		2021
Operating cash flows used for operating leases	$	50.6	$	48.3	$	51.5
Right-of-use assets obtained in exchange for operating lease obligations	29.6		53.9		28.2


Weighted average remaining lease term – operating leases (years)			6
Weighted average discount rate (%)			3.0

Schedule of Lease Balances Within Balance Sheet

The following table presents the lease balances within the Consolidated Balance Sheets related to the Company’s operating leases as of December 31:


Lease assets and liabilities	Balance sheet account	2023		2022
ASSETS:
Operating lease ROU assets	Other assets	$	189.8	$	196.1

LIABILITIES:
Current operating lease liabilities	Other accrued liabilities	43.3		46.4
Operating lease liabilities	Other liabilities	158.7		164.2
Total operating lease liabilities		$	202.0	$	210.6

Schedule of Future Minimum Lease Payments

Future minimum lease payments under non-cancellable leases were as follows:


2024	$	47.9
2025	42.9
2026	35.1
2027	28.3
2028	21.9
Thereafter	44.6
Total operating lease payments	220.7
Less: Imputed interest	18.7
Total operating lease liabilities	$	202.0

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Earnings Before Income Taxes

Earnings before income taxes for the years ended December 31, 2023, 2022, and 2021 consisted of the following components:


	2023		2022		2021
United States	$	1,480.3	$	1,026.4	$	814.7
Other	262.8		255.6		217.2
Earnings before income taxes	$	1,743.1	$	1,282.0	$	1,031.9

Schedule of Components of Income Tax Expense

Components of income tax expense for the years ended December 31, 2023, 2022, and 2021 were as follows:


	2023		2022		2021
Current:
Federal	$	352.6	$	322.9	$	110.2
State	80.7		80.8		50.8
Foreign	69.9		65.9		59.9
Deferred:
Federal	(94.1)		(136.9)		27.5
State	(27.7)		(31.1)		(27.2)
Foreign	(6.7)		(5.2)		5.4
Income tax expense	$	374.7	$	296.4	$	226.6

Schedule of Effective Income Tax Rate Reconciliation

Reconciliations between the U.S. federal statutory income tax rate and the effective income tax rate for the years ended December 31, 2023, 2022, and 2021 were as follows:


	2023		2022		2021
Federal statutory tax rate	21.0	%	21.0	%	21.0	%
Foreign operations, net	0.5		0.8		2.5
R&D tax credits	(1.9)		(3.0)		(2.1)
State taxes, net of federal benefit	3.5		3.7		2.8
Stock-based compensation	(1.5)		(1.0)		(2.4)
Impact of UK tax rate change	—		—		2.0

Legal entity restructuring	(0.4)		0.8		(1.4)
Other, net	0.3		0.8		(0.4)
Effective tax rate	21.5	%	23.1	%	22.0	%

Schedule of Deferred Tax Assets and Liabilities

Components of deferred tax assets and liabilities at December 31 were as follows:


	2023		2022
Deferred tax assets:
Reserves and accrued expenses	$	223.2	$	192.4
Net operating loss carryforwards	80.2		84.6
R&D credits	7.6		8.9
Capitalized R&D expenditures	178.7		97.8
Interest expense limitation carryforwards	31.0		41.1

Lease liabilities	47.1		50.1

Valuation allowance	(34.8)		(37.1)
Total deferred tax assets	$	533.0	$	437.8
Deferred tax liabilities:
Reserves and accrued expenses	$	18.3	$	12.0
Amortizable intangible assets	1,752.8		1,818.7

Accrued tax on unremitted foreign earnings	8.8		5.8
Right-of-use assets	44.7		48.0
Outside basis difference in Indicor	189.3		174.2
Total deferred tax liabilities	$	2,013.9	$	2,058.7

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of the beginning and ending amounts of unrecognized tax benefits are as follows:


	2023		2022		2021
Beginning balances	$	29.0	$	40.5	$	63.5
Additions for tax positions of prior periods	4.3		—		2.2
Additions for tax positions of the current period	4.3		2.3		3.3
Additions due to acquisitions	—		—		1.0
Reductions for tax positions of prior periods	—		(11.2)		(0.5)
Reductions attributable to lapses of applicable statutes of limitations	(2.0)		(2.6)		(4.6)
Reductions attributable to settlements with taxing authorities	—		—		(24.4)
Ending balances	$	35.6	$	29.0	$	40.5

Stock-Based Compensation - Schedule of Share Based Compensation Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-Based Payment Arrangement [Abstract]
Stock-based compensation	$ 123.5	$ 117.8	$ 123.0
Tax benefit recognized in net earnings	$ 20.4	$ 18.6	$ 19.8

Contract Balances - Schedule of Contract Balances (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Unbilled receivables	$ 106.4	$ 91.5
Deferred revenue – current	(1,583.8)	(1,370.7)
Deferred revenue – non-current	(130.7)	(111.5)
Net contract assets/(liabilities)	(1,608.1)	$ (1,390.7)
Change in unbilled receivables	14.9
Change in deferred revenue - current	(213.1)
Change in deferred revenue - non-current	(19.2)
Change in net contract assets/(liabilities)	$ (217.4)

Income Taxes - Schedule of Unrecognized Tax Benefits Roll Forward (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Beginning balances	$ 29.0	$ 40.5	$ 63.5
Additions for tax positions of prior periods	4.3	0.0	2.2
Additions for tax positions of the current period	4.3	2.3	3.3
Additions due to acquisitions	0.0	0.0	1.0
Reductions for tax positions of prior periods	0.0	(11.2)	(0.5)
Reductions attributable to lapses of applicable statutes of limitations	(2.0)	(2.6)	(4.6)
Reductions attributable to settlements with taxing authorities	0.0	0.0	(24.4)
Ending balances	$ 35.6	$ 29.0	$ 40.5

Business Acquisitions and Dispositions	12 Months Ended
Business Acquisitions and Dispositions	Dec. 31, 2023
Business Combination and Asset Acquisition [Abstract]
Business Acquisitions and Dispositions	Business Acquisitions and Dispositions Acquisitions 2023 Acquisitions – Roper completed four business acquisitions in the year ended December 31, 2023. The results of operations of the acquired businesses are included in Roper’s Consolidated Financial Statements from the date of each acquisition. Pro forma results of operations and the revenues and net earnings subsequent to the acquisition date for the acquisitions completed during 2023 have not been presented because the effects of the acquisitions, individually and in the aggregate, were not material to our financial results. The largest of the 2023 acquisitions was Syntellis Parent, LLC (“Syntellis”), the parent company of Syntellis Performance Solutions, LLC, a leading provider of cloud-based performance management and data solutions for healthcare, financial institutions, and higher education markets. Roper acquired the outstanding membership interests of Syntellis on August 7, 2023, for a purchase price of $1,381, adjusted for cash acquired and certain liabilities assumed. Additionally, the purchase price contemplated a net present value tax benefit of approximately $135 which is expected to be utilized over the next 15 years. This acquisition has been integrated into our Strata business and its results are reported in the Application Software reportable segment. The Company recorded $859.0 in goodwill, $17.0 assigned to trade names that are not subject to amortization, and $594.0 of other identifiable intangibles in connection with the Syntellis acquisition. The amortizable intangible assets include customer relationships of $529.0 (20 year useful life) and technology of $65.0 (7 year useful life). During the year ended December 31, 2023, Roper completed three additional bolt-on acquisitions. On May 2, 2023, Roper acquired the outstanding membership interests of Promium, L.L.C., a leading provider of laboratory information management systems in the environmental and water markets, for a purchase price of $16.5. This acquisition has been integrated into our Clinisys business and its results are reported in the Application Software reportable segment. On August 21, 2023, Roper acquired the assets of Replicon Inc., a provider of time tracking software solutions for project and services centric organizations, for a purchase price of $447.5, adjusted for cash acquired and certain liabilities assumed. Additionally, the purchase price contemplated a net present value tax benefit of approximately $80 which is expected to be utilized over the next 15 years. This acquisition has been integrated into our Deltek business and its results are reported in the Application Software reportable segment. On December 26, 2023, Roper acquired the issued and outstanding shares of Executive Business Services, Inc. (“ProPricer”), a leading provider of proposal pricing software solutions for government contractors and government agencies, for a purchase price of $79.5, adjusted for cash acquired and certain liabilities assumed. This acquisition is integrating into our Deltek business and its results are reported in the Application Software reportable segment. The Company recorded $330.6 in goodwill, $15.4 assigned to trade names that are not subject to amortization, and $229.1 of other identifiable intangibles in connection with these three acquisitions. The amortizable intangible assets include customer relationships of $209.4 (16.9 year weighted average useful life) and technology of $19.7 (5.0 year weighted average useful life). On August 4, 2023, Roper acquired an 18.2% limited partnership minority interest in CI Ultimate Holdings, L.P., the parent entity of Certinia Inc., a leading provider of professional services automation software, for $125.0. The Company’s investment is accounted for under the equity method of accounting whereby our proportionate share of earnings or loss associated with the investment is reported as a component of “Equity investments activity, net” in our Consolidated Statement of Earnings with a corresponding change in the balance of our equity investment which is reported as a component of “Equity investments” in our Consolidated Balance Sheet. On January 22, 2024, Roper entered into an agreement to acquire Genesis Ultimate Holding Co., the parent company of Procare Software, LLC (“Procare”) for a purchase price of approximately $1,860, which contemplates a net present value tax benefit of approximately $110. Procare is a leading provider of cloud-based software for the management of early childhood education centers. This acquisition is expected to close in the first quarter of 2024. 2022 Acquisitions – Roper completed seven business acquisitions in the year ended December 31, 2022. The results of operations of the acquired businesses are included in Roper’s Consolidated Financial Statements from the date of each acquisition. Pro forma results of operations and the revenues and net earnings subsequent to the acquisition date for the acquisitions completed during 2022 have not been presented because the effects of the acquisitions, individually and in the aggregate, were not material to our financial results. The largest of the 2022 acquisitions was Frontline Technologies Parent, LLC (“Frontline”), a leading provider of K-12 school administration software, connecting solutions for human capital management, student and special programs, and business operations with powerful analytics that empower educators. Roper acquired Frontline on October 4, 2022, for a purchase price of $3,738.0. The purchase price comprised an enterprise value of $3,725.0, adjusted for cash acquired and the settlement of certain liabilities. Additionally, the purchase price initially contemplated a net present value tax benefit of approximately $350. During the measurement period, the net present value tax benefit was revised upwards to approximately $500 associated with an increase in our tax basis. The revised net present value tax benefit is expected to be utilized over the next 15 years. The results of Frontline are reported in the Application Software reportable segment. The Company recorded $2,197.6 in goodwill and $1,918.6 of other identifiable intangibles in connection with the Frontline acquisition. Of the $1,918.6 of acquired intangible assets, $83.0 was assigned to trade names that are not subject to amortization. The remaining $1,835.6 of acquired intangible assets include customer relationships of $1,757.0 (20 year useful life) and unpatented technology of $78.6 (5 year useful life). Including measurement period adjustments, net assets acquired also include approximately $258 of deferred revenue and approximately $122 of net deferred tax liabilities, primarily attributable to acquired intangible assets, partially offset by federal tax attributes. Approximately $1,200 of goodwill is expected to be deductible for tax purposes. During the year ended December 31, 2022, Roper completed six additional bolt-on acquisitions with an aggregate purchase price of $578.8, net of cash acquired and debt assumed. 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. This acquisition has been integrated into our Clinisys business and its results are reported in the Application Software reportable segment. On April 6, 2022, Roper acquired the issued and outstanding shares of Common Cents Systems, Inc. (ApolloLIMS), a provider of laboratory information management systems in the toxicology and public health markets. This acquisition has been integrated into our Clinisys business and its 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., 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”), 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 at professional services firms. This acquisition has been integrated into our Aderant business and its results are reported in the Application Software reportable segment. During the third quarter of 2022, Roper acquired TIP Technologies, Inc. and Common Sense Solutions, Inc., which have been integrated into 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 six 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). 2021 Acquisitions – Roper completed seven business acquisitions in the year ended December 31, 2021 with an aggregate purchase price of $225.9, net of cash acquired and debt assumed. The results of operations of the acquired businesses are included in Roper’s Consolidated Financial Statements from the date of each acquisition. Pro forma results of operations and the revenues and net earnings subsequent to the acquisition date for the acquisitions completed during 2021 have not been presented because the effects of the acquisitions, individually and in the aggregate, were not material to our financial results. During the first three quarters of 2021, Roper completed four acquisitions which were integrated into our Deltek business and their results are reported in the Application Software reportable segment. On November 18, 2021, Roper acquired substantially all of the assets of Agency Zoom, LLC (“Agency Zoom”), a provider of sales, marketing, and service automation software solutions for insurance agencies. Agency Zoom was integrated into our Vertafore business and its results are reported in the Application Software reportable segment. On December 21, 2021, Roper acquired a majority of the assets of The Construction Journal, LTD. (“Construction Journal”), a provider of selling, marketing, and licensing software solutions for the commercial construction industry. Construction Journal was integrated into our ConstructConnect business and its results are reported in the Network Software reportable segment. On December 30, 2021, Roper acquired 100% of the shares of American LegalNet, Inc. (“ALN”), a provider of court forms, eFiling, calendaring, and docketing software solutions. ALN was integrated into our Aderant business and its results are reported in the Application Software reportable segment. The Company recorded $138.8 in goodwill and $104.9 of other identifiable intangibles in connection with these seven acquisitions. The amortizable intangible assets include customer relationships of $94.6 (12.9 year weighted average useful life) and technology of $10.3 (5.3 year weighted average useful life). Dispositions On March 17, 2021, Roper completed the sale of a minority investment in Sedaru, Inc. for $27.1 in cash. The sale resulted in a pretax gain of $27.1, which is reported within “Other income (expense), net” in our Consolidated Statement of Earnings. In addition, we recognized income tax expense of $5.5 in connection with the sale, which is included within “Income taxes” in our Consolidated Statement of Earnings.

Quarterly Financial Data (unaudited) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Quarterly Financial Data [Abstract]
Net revenues	$ 1,613.5	$ 1,563.4	$ 1,531.2	$ 1,469.7	$ 1,430.9	$ 1,350.3	$ 1,310.8	$ 1,279.8	$ 6,177.8	$ 5,371.8	$ 4,833.8
Gross profit	1,125.2	1,096.3	1,067.1	1,018.6	1,002.3	941.8	911.5	897.2	4,307.2	3,752.8	3,407.6
Income from operations	462.8	446.1	435.3	401.0	412.5	393.2	362.9	355.9	1,745.2	1,524.5	1,241.2
Net earnings from continuing operations	377.5	345.6	361.0	284.3	247.3	276.9	225.0	236.4	1,368.4	985.6	805.3
Net earnings (loss) from discontinued operations	11.5	1.6	3.9	(1.2)	1,681.1	50.1	43.8	1,784.1	15.8	3,559.1	347.3
Net earnings	$ 389.0	$ 347.2	$ 364.9	$ 283.1	$ 1,928.4	$ 327.0	$ 268.8	$ 2,020.5	$ 1,384.2	$ 4,544.7	$ 1,152.6
Net earnings per share from continuing operations:
Basic (in dollars per share)	$ 3.53	$ 3.23	$ 3.38	$ 2.67	$ 2.33	$ 2.61	$ 2.13	$ 2.24	$ 12.83	$ 9.31	$ 7.65
Diluted (in dollars per share)	3.50	3.21	3.36	2.66	2.32	2.59	2.11	2.22	12.74	9.23	7.56
Net earnings (loss) per share from discontinued operations:
Basic (in dollars per share)	0.11	0.02	0.04	(0.01)	15.85	0.47	0.41	16.89	0.15	33.61	3.30
Diluted (in dollars per share)	0.11	0.02	0.04	(0.01)	15.74	0.47	0.41	16.72	0.15	33.32	3.26
Net earnings per share:
Basic (in dollars per share)	3.64	3.25	3.42	2.66	18.18	3.08	2.54	19.13	12.98	42.92	10.95
Diluted (in dollars per share)	$ 3.61	$ 3.23	$ 3.40	$ 2.65	$ 18.06	$ 3.06	$ 2.52	$ 18.94	$ 12.89	$ 42.55	$ 10.82

Fair Value

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Fair Value

Financial assets and liabilities are valued using market prices on active markets (Level 1), less active markets (Level 2), and little or no market activity (Level 3). Level 1 instrument valuations are obtained from real-time quotes for transactions in active exchange markets involving identical assets. Level 2 instrument valuations are obtained from readily available pricing sources for comparable instruments, identical instruments in less active markets, or models using market observable inputs. Level 3 instrument valuations typically reflect management’s estimate of assumptions that market participants would use in pricing the asset or liability.

Debt – Roper’s debt at December 31, 2023 included $6,000.0 of fixed-rate senior notes with the following fair values:


Fixed-rate senior notes				Fair value
Principal amount		Interest rate	Year of maturity	As of December 31, 2023
$	500	2.350%	2024	$	489
$	300	3.850%	2025	$	295
$	700	1.000%	2025	$	655
$	700	3.800%	2026	$	685
$	700	1.400%	2027	$	627
$	800	4.200%	2028	$	787
$	700	2.950%	2029	$	642
$	600	2.000%	2030	$	511
$	1,000	1.750%	2031	$	825

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.

Indicor Investment – In connection with the Indicor Transaction, the Company initially retained a 49% equity interest in Indicor valued at $535.0 as of the transaction close date. This initial valuation was based on the implied equity value associated with the sale price of the 51% equity interest in Indicor to CD&R for approximately $829, inclusive of the Unit Adjustment received by CD&R as discussed below. During 2023, we revised our valuation methodology to utilize the market multiple approach consisting of comparable guideline public companies revenue and earnings multiples to estimate the fair value of the investment, net of the Unit Adjustment discussed below. Our valuation methodology was updated given the passage of time since the transaction date and in consideration of observable market data, including Indicor’s divestiture of its Compressor Controls business unit (“CCC”) to Honeywell International Inc. (“Honeywell”) for approximately $670 which closed on June 30, 2023.

As part of the investment, Roper is required to make quarterly payments (“Unit Adjustment”), to CD&R, either (i) in cash, with total payments of approximately $29 per year on a pretax basis, or (ii) in-kind through the transfer of Roper’s equity interests in Indicor to CD&R, of approximately 1.7% ownership interest on an annual basis. Roper intends to continue making these quarterly payments in-kind. Roper’s valuation of the Unit Adjustment is based on an expected investment horizon of 5 years from the date of the Indicor Transaction. The Company’s obligation to make such quarterly payments will cease upon the earlier of:

•Indicor achieving $425.0 of earnings before interest, taxes, depreciation, and amortization in any three twelve-month periods, whether or not consecutive; or

•Upon the initial public offering of Indicor.

In the event of a sale of Indicor, CD&R would be entitled to a liquidation preference equal to its initial investment of approximately $829, plus any Unit Adjustment paid in-kind. Management’s valuation assumes the expected exit of the Indicor investment is an initial public offering which is not subject to the liquidation preference. Roper’s approval is required prior to a sale of Indicor for a value that would trigger the liquidation preference.

The assessment of fair value for the equity investment requires significant judgments to be made by management. Although our assumptions are considered reasonable and are consistent with the plans and estimates, there is significant judgment applied. Changes in estimates or the application of alternative assumptions could produce significantly different results. The fair value of the investment reflects management’s estimate of assumptions that market participants would use in pricing the equity interest, which the Company has determined to be Level 3 in the FASB fair value hierarchy.

The following table provides a reconciliation of the fair value for our equity investment in Indicor measured using Level 3 inputs:


	Year ended December 31, 2023
Beginning balance	$	535.0
Change in fair value	140.9
Ending balance	$	675.9

The Company received dividend distributions of $32.5 from Indicor during the year ended December 31, 2023, which are reported within “Equity investments activity, net.” These dividends were intended to offset certain cash taxes payable associated with the Company’s ownership stake, including $32.5 of cash taxes paid associated with the Company’s portion of Indicor’s gain on the sale of CCC to Honeywell, and are contemplated in the determination of the fair value related to the equity investment in Indicor.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Stock-Based Compensation

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation

The Roper Technologies, Inc. 2021 Incentive Plan (“2021 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 2021 Plan was approved by shareholders at the Annual Meeting of Shareholders on June 14, 2021. The 2021 Plan replaces the Roper Technologies, Inc. 2016 Incentive Plan, as amended (“2016 Plan”), and no additional grants will be made from the 2016 Plan. At December 31, 2023, 7.499 shares were available to grant under the 2021 Plan.

Under the Roper Technologies, Inc. Employee Stock Purchase Plan, as amended and restated (“ESPP”), employees in the U.S. and Canada are allowed 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 stock purchase plan may be either treasury stock, stock purchased on the open market, or newly issued shares.

Stock-based compensation expense is not allocated to our reportable segments, which are described further in Note 14. Stock-based compensation expense for the years ended December 31, 2023, 2022, and 2021 included as a component of “Selling, general and administrative expenses” was as follows:


	2023		2022		2021
Stock-based compensation	$	123.5	$	117.8	$	123.0
Tax benefit recognized in net earnings	20.4		18.6		19.8

Stock Options – Stock options are granted at prices not less than 100% of market value of the underlying stock at the date of grant. Stock options typically vest over a weighted average period of approximately 3 years from the grant date and expire 10 years after the grant date. The Company recorded $38.0, $38.1, and $40.4 of compensation expense relating to outstanding options during 2023, 2022, and 2021, respectively, as a component of corporate general and administrative expenses.

The Company estimates the fair value of its option awards using the Black-Scholes option valuation model. The stock volatility for each grant is measured using the weighted average of historical daily price changes of the Company’s common stock over the most recent period equal to the expected life of the grant. The expected term of options granted is derived from historical data to estimate option exercises and employee forfeitures, and represents the period of time that options granted are expected to be outstanding. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of grant for the expected life of the option.

The weighted-average fair value of options granted in 2023, 2022, and 2021 were calculated using the following weighted average assumptions:


	2023	2022	2021
Weighted-average fair value ($)	130.23	116.55	95.17
Risk-free interest rate (%)	3.76	2.19	0.94
Expected option life (years)	5.61	5.63	5.61
Expected volatility (%)	26.05	24.59	25.14
Expected dividend yield (%)	0.63	0.55	0.56

The following table summarizes stock option activities, with respect to the Company’s share-based compensation plans, for the years ended December 31, 2023 and 2022:


	Number of options	Weighted-average exercise price		Weighted-average remaining contractual term (years)	Aggregate intrinsic value
Outstanding at December 31, 2021	3.223	$	287.15
Granted	0.399	452.08
Exercised	(0.460)	239.11
Canceled	(0.177)	359.06
Outstanding at December 31, 2022	2.985	312.34		6.18	$	366.3
Granted	0.383	432.77
Exercised	(0.593)	246.77
Canceled	(0.087)	425.80
Outstanding at December 31, 2023	2.688	340.89		6.00	$	549.1
Exercisable at December 31, 2023	1.763	$	291.74	4.75	$	446.7

At December 31, 2023, there was $53.5 of total unrecognized compensation expense related to nonvested options granted under the Company’s stock-based compensation plans. That cost is expected to be recognized over a weighted average period of 1.86 years. The total intrinsic value of options exercised in 2023, 2022, and 2021 was $133.7, $92.7, and $138.2, respectively. Cash received from option exercises under all plans in 2023, 2022, and 2021 was $146.5, $110.0, and $104.7 respectively.

Restricted Stock Grants – During 2023 and 2022, the Company granted 0.280 and 0.271 shares, respectively, of restricted stock to certain employee and director participants under its stock-based compensation plans. Restricted stock grants generally vest over a period of 1 to 4 years. The Company recorded $83.3, $77.6, and $82.7 of compensation expense related to outstanding shares of restricted stock held by employees and directors during 2023, 2022, and 2021, respectively. A summary of the Company’s nonvested shares activity for 2023 and 2022 is as follows:


	Number of shares	Weighted-average grant date fair value
Nonvested at December 31, 2021	0.498	$	365.79
Granted	0.271	446.42
Vested	(0.272)	360.14
Forfeited	(0.052)	386.06
Nonvested at December 31, 2022	0.445	416.00
Granted	0.280	439.72
Vested	(0.202)	406.36
Forfeited	(0.083)	434.87
Nonvested at December 31, 2023	0.440	$	431.96

At December 31, 2023, there was $95.9 of total unrecognized compensation expense related to nonvested awards granted to both employees and directors under the Company’s stock-based compensation plans. That cost is expected to be recognized over a weighted average period of 1.73 years.

Employee Stock Purchase Plan – During 2023, 2022, and 2021, participants of the ESPP purchased 0.038, 0.039, and 0.040 shares, respectively, of Roper’s common stock for total consideration of $15.5, $14.3, and $15.1, respectively. All of these shares were purchased from Roper’s treasury shares.

Fair Value - Change in Fair Value for the Equity Investment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Equity Method Investments
Beginning balance	$ 535.0
Change in fair value	165.4	$ 0.0	$ 0.0
Ending balance	795.7	535.0
Indicor
Equity Method Investments
Beginning balance	535.0
Change in fair value	140.9
Ending balance	$ 675.9	$ 535.0

Stock-Based Compensation - Schedule of Nonvested Restricted Stock Awards Activity (Details) - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Number of shares
Nonvested, beginning of period (in shares)	445	498
Granted (in shares)	280	271
Vested (in shares)	(202)	(272)
Forfeited (in shares)	(83)	(52)
Nonvested, end of period (in shares)	440	445
Weighted-average grant date fair value
Nonvested, beginning of period (in dollars per share)	$ 416.00	$ 365.79
Granted (in dollars per share)	439.72	446.42
Vested (in dollars per share)	406.36	360.14
Forfeited (in dollars per share)	434.87	386.06
Nonvested, end of period (in dollars per share)	$ 431.96	$ 416.00

Segment and Geographic Area Information (Tables)

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

Selected financial information by reportable segment for 2023, 2022, and 2021 was as follows:


	Application Software		Network Software		Technology Enabled Products		Corporate		Total
2023
Net revenues	$	3,186.9	$	1,439.4	$	1,551.5	$	—	$	6,177.8
Operating profit	820.8		632.4		518.7		(226.7)		1,745.2
Assets:
Operating assets	730.8		235.6		337.5		35.0		1,338.9
Intangible assets, net	19,242.4		5,005.9		1,082.6		—		25,330.9
Other	377.7		122.3		65.5		932.2		1,497.7
Total assets									28,167.5
Capital expenditures	20.1		6.4		13.8		27.7		68.0
Capitalized software expenditures	39.5		0.5		—		—		40.0
Depreciation and other amortization	563.0		162.5		29.1		0.6		755.2

2022
Net revenues	$	2,639.5	$	1,378.5	$	1,353.8	$	—	$	5,371.8
Operating profit	714.0		570.6		449.1		(209.2)		1,524.5
Assets:
Operating assets	624.7		224.7		307.4		7.1		1,163.9
Intangible assets, net	17,758.4		5,118.5		1,099.9		—		23,976.8
Other	340.2		124.2		95.4		1,280.3		1,840.1
Total assets									26,980.8
Capital expenditures	20.7		8.8		9.2		1.4		40.1
Capitalized software expenditures	28.5		1.7		—		—		30.2
Depreciation and other amortization	455.8		164.2		29.8		0.3		650.1

2021
Net revenues	$	2,366.7	$	1,223.8	$	1,243.3	$	—	$	4,833.8
Operating profit 2	633.1		476.8		415.6		(189.9)		1,335.6
Assets:
Operating assets	576.0		215.5		250.7		15.4		1,057.6
Intangible assets, net	13,498.4		5,364.8		1,122.2		—		19,985.4
Other	205.8		50.4		33.8		498.0		788.0
Total assets 1									21,831.0
Capital expenditures	18.0		5.0		4.5		1.0		28.5
Capitalized software expenditures	26.3		3.4		—		—		29.7
Depreciation and other amortization	418.7		164.8		32.1		0.3		615.9

1 Total assets excludes assets held for sale of $1,882.9 associated with the 2021 Divestitures and Indicor, as applicable, on December 31, 2021.

2 Operating profit excludes $94.4 of non-cash impairment charges for the year ended December 31, 2021.

Schedule of Sales and Long-Lived Assets by Country of Origin


	United States		Non-U.S.		Eliminations		Total
2023
Sales to unaffiliated customers	$	5,353.6	$	824.2	$	—	$	6,177.8
Sales between geographic areas	73.5		79.7		(153.2)		—
Net revenues	$	5,427.1	$	903.9	$	(153.2)	$	6,177.8
Long-lived assets	$	251.1	$	20.1	$	—	$	271.2

2022
Sales to unaffiliated customers	$	4,610.2	$	761.6	$	—	$	5,371.8
Sales between geographic areas	55.5		82.2		(137.7)		—
Net revenues	$	4,665.7	$	843.8	$	(137.7)	$	5,371.8
Long-lived assets	$	196.5	$	17.1	$	—	$	213.6

2021
Sales to unaffiliated customers	$	4,105.6	$	728.2	$	—	$	4,833.8
Sales between geographic areas	81.1		81.9		(163.0)		—
Net revenues	$	4,186.7	$	810.1	$	(163.0)	$	4,833.8
Long-lived assets	$	167.3	$	19.8	$	—	$	187.1

Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area

Roper’s net revenues for the years ended December 31, 2023, 2022, and 2021 are shown below by region, except for Canada, which is presented separately:


	Application Software		Network Software		Technology Enabled Products		Total
2023
Canada	$	63.7	$	99.5	$	91.4	$	254.6
Europe	260.7		64.2		128.3		453.2
Asia	4.6		14.6		55.9		75.1
Rest of the world	34.6		9.2		46.7		90.5
Total	$	363.6	$	187.5	$	322.3	$	873.4
2022
Canada	$	57.8	$	95.9	$	68.6	$	222.3
Europe	241.2		65.7		117.7		424.6
Asia	4.9		12.2		56.2		73.3
Rest of the world	35.1		7.5		43.7		86.3
Total	$	339.0	$	181.3	$	286.2	$	806.5
2021
Canada	$	51.2	$	85.2	$	61.7	$	198.1
Europe	248.2		59.2		125.3		432.7
Asia	3.7		10.9		49.4		64.0
Rest of the world	37.1		6.5		37.5		81.1
Total	$	340.2	$	161.8	$	273.9	$	775.9

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities:
Net earnings from continuing operations	$ 1,368.4	$ 985.6	$ 805.3
Adjustments to reconcile net earnings from continuing operations to cash flows from operating activities:
Depreciation and amortization of property, plant and equipment	35.4	37.3	44.0
Amortization of intangible assets	719.8	612.8	571.9
Amortization of deferred financing costs	9.9	11.8	13.5
Non-cash stock compensation	123.5	118.5	123.0
Equity investments activity, net	(165.4)	0.0	0.0
Impairment of intangible assets	0.0	0.0	94.4
Gain on disposal of assets, net of associated income tax	0.0	0.0	(21.6)
Income tax provision, excluding tax associated with gain on disposal of assets	374.7	296.4	221.1
Changes in operating assets and liabilities, net of acquired businesses:
Accounts receivable	(50.2)	2.5	(73.7)
Unbilled receivables	(7.5)	(11.1)	(16.4)
Inventories	(6.6)	(43.1)	(0.3)
Accounts payable	18.2	21.3	16.0
Other accrued liabilities	(1.0)	(7.6)	27.0
Deferred revenue	93.9	52.9	162.2
Cash taxes paid for gain on disposal of businesses	(32.5)	(953.8)	0.0
Cash income taxes paid, excluding tax associated with gain on disposal of businesses and assets	(423.4)	(498.9)	(273.9)
Other, net	(19.8)	(18.0)	(36.7)
Cash provided by operating activities from continuing operations	2,037.4	606.6	1,655.8
Cash provided by (used in) operating activities from discontinued operations	(2.3)	128.0	356.1
Cash provided by operating activities	2,035.1	734.6	2,011.9
Cash flows from (used in) investing activities:
Acquisitions of businesses, net of cash acquired	(2,052.7)	(4,280.1)	(217.0)
Capital expenditures	(68.0)	(40.1)	(28.5)
Capitalized software expenditures	(40.0)	(30.2)	(29.7)
Distributions from equity investment	32.5	0.0	0.0
Proceeds from sale of assets	0.0	0.0	27.1
Other, net	(0.1)	(1.4)	(1.1)
Cash used in investing activities from continuing operations	(2,128.3)	(4,351.8)	(249.2)
Proceeds from disposition of discontinued operations	2.0	5,561.8	115.6
Cash used in investing activities from discontinued operations	0.0	(0.5)	(9.3)
Cash provided by (used in) investing activities	(2,126.3)	1,209.5	(142.9)
Cash flows from (used in) financing activities:
Payments of senior notes	(700.0)	(800.0)	(500.0)
Borrowings (payments) under revolving line of credit, net	360.0	(470.0)	(1,150.0)
Debt issuance costs	0.0	(3.9)	0.0
Cash dividends to stockholders	(290.2)	(262.3)	(236.4)
Treasury stock sales	15.5	14.3	15.1
Proceeds from stock-based compensation, net	115.2	68.2	64.3
Other, net	0.0	(0.2)	(0.1)
Cash used in financing activities from continuing operations	(499.5)	(1,453.9)	(1,807.1)
Cash used in financing activities from discontinued operations	0.0	(11.4)	(6.4)
Cash used in financing activities	(499.5)	(1,465.3)	(1,813.5)
Effect of exchange rate changes on cash	12.2	(37.5)	(12.3)
Net increase (decrease) in cash and cash equivalents	(578.5)	441.3	43.2
Cash and cash equivalents, beginning of year	792.8	351.5	308.3
Cash and cash equivalents, end of year	214.3	792.8	351.5
Cash paid for:
Interest	201.9	206.5	222.2
Net assets of businesses acquired:
Fair value of assets, including goodwill	2,235.1	4,891.8	249.8
Liabilities assumed	(182.4)	(611.7)	(32.8)
Cash paid, net of cash acquired	$ 2,052.7	$ 4,280.1	$ 217.0

Discontinued Operations - Narrative (Details) - USD ($) $ in Millions					12 Months Ended
	Nov. 22, 2022	Mar. 17, 2022	Jan. 05, 2022	Nov. 01, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Indicor
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Equity method investment fair value	$ 535.0				$ 535.0
Equity method investment, ownership percentage	49.00%				47.30%	49.00%
Held-for-sale or Disposed of by Sale \| Indicor
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration receivable or received on disposal	$ 1,775.0
Pretax gain on disposition of business	2,046.0				$ (2.3)	$ 232.8	$ 239.1
Income tax expense	$ 407.2				$ 1.8	$ 45.6	$ 61.8
Ownership interest divested, percent	51.00%
Upfront, pre-tax cash proceeds	$ 2,604.0
Purchase price proceeds	829.0
Retaining minority interest					49.00%
Foreign currency translation loss on disposal	$ 142.6
Singapore Technologies Engineering Ltd \| Disposed of by Sale \| TransCore
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration receivable or received on disposal		$ 2,680.0
Pretax gain on disposition of business		2,073.7
Income tax expense		$ 550.5
Eddyfi NDT Inc \| Disposed of by Sale \| Zetec
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration receivable or received on disposal			$ 350.0
Pretax gain on disposition of business			255.3
Income tax expense			$ 60.9
Blue Wolf Capital Partners LLC \| Disposed of by Sale \| Civco Radiotherapy
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration receivable or received on disposal				$ 120.0
Pretax gain on disposition of business				77.2
Income tax expense				$ 21.3

Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2023

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Discontinued Operations


	Year ended December 31,
	2022		2021
Net revenues	$	100.4	$	638.0
Cost of sales	71.2		372.9
Gross profit	29.2		265.1

Selling, general and administrative expenses (1)	19.9		124.0
Income from operations	9.3		141.1

Other income, net	0.1		1.5
Earnings before income taxes (2)	9.4		142.6

Income taxes	(6.2)		28.5
Earnings from discontinued operations, net of tax	15.6		114.1

Gain on disposition of discontinued operations, net of tax (3)	1,717.5		55.9

Net earnings from discontinued operations	$	1,733.1	$	170.0

(3) Includes expense of $4.5 and $0.9 associated with accelerated vesting of share-based awards for the years ended December 31, 2022 and 2021, respectively.

The following table summarizes the major classes of revenues and expenses constituting net earnings from discontinued operations attributable to Indicor:


	Year ended December 31,
	2023			2022		2021
Net revenues	$	—		$	916.1	$	944.0
Cost of sales	—			432.1		434.2
Gross profit	—			484.0		509.8

Selling, general and administrative expenses (1)	2.3			250.5		265.7
Impairment of intangible assets	—			—		5.1
Income (loss) from operations	(2.3)			233.5		239.0

Other income (expense), net	—			(0.7)		0.1
Earnings (loss) before income taxes (2)	(2.3)			232.8		239.1

Income taxes	1.8			45.6		61.8
Earnings (loss) from discontinued operations, net of tax	(4.1)			187.2		177.3

Gain on disposition of discontinued operations, net of tax	19.9		(3)	1,638.8		—

Net earnings from discontinued operations	$	15.8		$	1,826.0	$	177.3

(2) Includes depreciation and amortization of $6.4 and $18.2 for the years ended December 31, 2022 and 2021, respectively.

(3) Consists of adjustments subsequent to the sale primarily associated with income taxes.

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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+ Details

Income Taxes - Earnings Before Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
United States	$ 1,480.3	$ 1,026.4	$ 814.7
Other	262.8	255.6	217.2
Earnings before income taxes	$ 1,743.1	$ 1,282.0	$ 1,031.9

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

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+ Details

Leases - Lease Balances Within Balance Sheet (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
ASSETS:
Operating lease ROU assets	$ 189.8	$ 196.1
Operating lease, right-of-use asset, statement of financial position [Extensible List]	Other Assets, Noncurrent	Other Assets, Noncurrent
LIABILITIES:
Current operating lease liabilities	$ 43.3	$ 46.4
Operating lease liabilities	158.7	164.2
Total operating lease liabilities	$ 202.0	$ 210.6
Operating lease, liability, current, statement of financial position [Extensible List]	Other accrued liabilities	Other accrued liabilities
Operating lease, liability, noncurrent, statement of financial position [Extensible List]	Other Liabilities, Noncurrent	Other Liabilities, Noncurrent

Long-Term Debt

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Long-Term Debt

On July 21, 2022, the Company entered into a 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 previous $3,000.0 unsecured credit facility, dated as of September 2, 2020, as amended. The Credit Agreement comprises a five-year $3,500.0 revolving credit facility, which includes availability of up to $150.0 for letters of credit. 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.

Loans under the Credit Agreement can be borrowed as term Secured Overnight Financing Rate (“SOFR”) loans or Alternate Base Rate (“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%.

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.

At December 31, 2023 and 2022, there were $360.0 and no outstanding borrowings under the Credit Agreement, respectively. The Company was in compliance with its debt covenants throughout the years ended December 31, 2023 and 2022.

On June 22, 2020, the Company completed a public offering of $600.0 aggregate principal amount of 2.00% senior unsecured notes due June 30, 2030 (“2030 Notes”). The 2030 Notes bear interest at a fixed rate and are payable semi-annually in arrears on June 30 and December 30 of each year, beginning December 30, 2020. The net proceeds were used for general corporate purposes, including acquisitions.

On September 1, 2020, the Company completed a public offering of $300.0 aggregate principal amount of 0.45% senior unsecured notes due August 15, 2022 (“2022 Notes”), $700.0 aggregate principal amount of 1.00% senior unsecured notes due September 15, 2025 (“2025 Notes”), $700.0 aggregate principal amount of 1.40% senior unsecured notes due September 15, 2027 (“2027 Notes”), and $1,000.0 aggregate principal amount of 1.75% senior unsecured notes due February 15, 2031 (“2031 Notes” and, together with the 2022 Notes, 2025 Notes, and 2027 Notes, the “Notes”). The 2031 Notes bear interest at a fixed rate and are payable semi-annually in arrears on February 15 and August 15 of each year, beginning February 15, 2021, and the 2025 Notes and 2027 Notes bear interest at a fixed rate and are payable semi-annually in arrears on March 15 and September 15 of each year, beginning March 15, 2021. The net proceeds, together with cash on hand and borrowings under the credit agreement in place at the time, were used to fund the purchase price of the acquisition of Vertafore, Inc. and related costs.

On August 26, 2019, the Company completed a public offering of $500.0 aggregate principal amount of 2.35% senior unsecured notes due September 15, 2024 and $700.0 aggregate principal amount of 2.95% senior unsecured notes due September 15, 2029. The notes bear interest at a fixed rate and are payable semi-annually in arrears on March 15 and September 15 of each year, beginning March 15, 2020. The net proceeds were used to fund a portion of the purchase of iPipeline Holdings, Inc.

On August 28, 2018, the Company completed a public offering of $700.0 aggregate principal amount of 3.65% senior unsecured notes due September 15, 2023 and $800.0 aggregate principal amount of 4.20% senior unsecured notes due September 15, 2028 (“2028 Notes”). The 2028 Notes bear interest at a fixed rate and are payable semi-annually in arrears on March 15 and September 15 of each year, beginning March 15, 2019.

On December 19, 2016, the Company completed a public offering of $500.0 aggregate principal amount of 2.80% senior unsecured notes due December 15, 2021 and $700.0 aggregate principal amount of 3.80% senior unsecured notes due December 15, 2026 (“2026 Notes”). The 2026 Notes bear interest at a fixed rate and are payable semi-annually in arrears on June 15 and December 15 of each year, beginning June 15, 2017.

On December 7, 2015, the Company completed a public offering of $300.0 aggregate principal amount of 3.85% senior unsecured notes due December 15, 2025. The notes bear interest at a fixed rate and are payable semi-annually in arrears on June 15 and December 15 of each year, beginning June 15, 2016.

On November 21, 2012, the Company completed a public offering of $500.0 aggregate principal amount of 3.125% senior unsecured notes due November 15, 2022. The notes bore interest at a fixed rate and were payable semi-annually in arrears on May 15 and November 15 of each year, beginning May 15, 2013.

Roper may redeem some or all of these notes at any time or from time to time, at 100% of their principal amount, plus a make-whole premium based on a spread to U.S. Treasury securities.

On September 15, 2023, $700.0 of 3.65% senior notes due 2023 were repaid at maturity using borrowings under our unsecured credit facility.

On August 15, 2022, $500.0 of 3.125% senior notes due 2022 were redeemed using cash flows generated from operations.

On August 15, 2022, $300.0 of 0.45% senior notes due 2022 were repaid at maturity using cash flows generated from operations.

On November 15, 2021, $500.0 of 2.80% senior notes due 2021 were redeemed predominantly using cash flows generated from operations.

The Company’s senior notes are unsecured senior obligations of the Company and rank equally in right of payment with all of Roper’s existing and future unsecured and unsubordinated indebtedness. The notes are effectively subordinated to any of its existing and future secured indebtedness to the extent of the value of the collateral securing such indebtedness. The notes are not guaranteed by any of Roper’s subsidiaries and are effectively subordinated to all existing and future indebtedness and other liabilities of Roper’s subsidiaries.

Total debt at December 31 consisted of the following:


	2023		2022
Unsecured credit facility	$	360.0	$	—
$700 3.650% senior notes due 2023	—		700.0
$500 2.350% senior notes due 2024	500.0		500.0
$300 3.850% senior notes due 2025	300.0		300.0
$700 1.000% senior notes due 2025	700.0		700.0
$700 3.800% senior notes due 2026	700.0		700.0
$700 1.400% senior notes due 2027	700.0		700.0
$800 4.200% senior notes due 2028	800.0		800.0
$700 2.950% senior notes due 2029	700.0		700.0
$600 2.000% senior notes due 2030	600.0		600.0
$1,000 1.750% senior notes due 2031	1,000.0		1,000.0
Other	0.2		0.3
Less: Deferred financing costs	(30.1)		(38.6)
Total debt, net of deferred financing costs	6,330.1		6,661.7
Less: Current portion	(499.5)		(699.2)
Long-term debt, net of deferred financing costs	$	5,830.6	$	5,962.5

The interest rate on the borrowings under the unsecured credit facility is calculated based upon various recognized indices plus a margin as defined in the Credit Agreement. At December 31, 2023, Roper had $7.4 of outstanding letters of credit.

Future maturities of total debt during each of the next five years ending December 31 and thereafter are as follows:


2024	$	500.1
2025	1,000.1
2026	700.0
2027	1,060.0
2028	800.0
Thereafter	2,300.0
Total debt	$	6,360.2

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

Summary of Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Schedule of Weighted Average Diluted Shares Outstanding

The effects of potential common stock were determined using the treasury stock method:


	Year ended December 31,
	2023	2022	2021
Basic weighted average shares outstanding	106.6	105.9	105.3
Effect of potential common stock:
Common stock awards	0.8	0.9	1.2
Diluted weighted average shares outstanding	107.4	106.8	106.5

Schedule of Property, Plant and Equipment

Depreciation and amortization are provided for using principally the straight-line method over the estimated useful lives of the assets as follows:


Buildings			20 - 30 years
Machinery and other equipment			8 - 12 years
Computer equipment and software			3 - 5 years

The components of property, plant and equipment at December 31 were as follows:


	2023		2022
Land	$	1.0	$	1.0
Buildings and leasehold improvements	57.7		43.0
Machinery and other equipment	137.2		113.2
Computer equipment	116.4		107.5
Software	76.1		71.9
Property, plant and equipment, gross	388.4		336.6
Accumulated depreciation	(268.8)		(251.3)
Property, plant and equipment, net	$	119.6	$	85.3

Schedule of Disaggregated Revenue

See details in the tables below:


	Year ended December 31, 2023
Revenue stream	Application Software		Network Software		Technology Enabled Products		Total
Software related
Recurring	$	2,454.3	$	1,039.5	$	17.3	$	3,511.1
Reoccurring	137.8		263.4		—		401.2
Non-recurring	594.8		136.5		1.5		732.8
Total Software Revenue	3,186.9		1,439.4		18.8		4,645.1

Product Revenue	—		—		1,532.7		1,532.7
Total Revenue	$	3,186.9	$	1,439.4	$	1,551.5	$	6,177.8


	Year ended December 31, 2022
Revenue stream	Application Software		Network Software		Technology Enabled Products		Total
Software related
Recurring	$	1,946.0	$	981.4	$	12.0	$	2,939.4
Reoccurring	124.2		246.2		—		370.4
Non-recurring	569.3		150.9		1.2		721.4
Total Software Revenue	2,639.5		1,378.5		13.2		4,031.2

Product Revenue	—		—		1,340.6		1,340.6
Total Revenue	$	2,639.5	$	1,378.5	$	1,353.8	$	5,371.8


	Year ended December 31, 2021
Revenue stream	Application Software		Network Software		Technology Enabled Products		Total
Software related
Recurring	$	1,708.0	$	837.5	$	7.8	$	2,553.3
Reoccurring	111.4		249.5		—		360.9
Non-recurring	547.3		136.8		0.8		684.9
Total Software Revenue	2,366.7		1,223.8		8.6		3,599.1

Product Revenue	—		—		1,234.7		1,234.7
Total Revenue	$	2,366.7	$	1,223.8	$	1,243.3	$	4,833.8