Debt

6 Months Ended

Jun. 30, 2012

Notes to Financial Statements [Abstract]

Roper's 3.75% senior subordinated convertible notes due 2034 became convertible on January 15, 2009. During the six month period ended June 30, 2012, 29,760 notes were converted for $32.4 million in cash and 41,678 shares of common stock at a weighted average share price of $94.50. No gain or loss was recorded upon these conversions. In addition, a related $2.1 million deferred tax liability associated with excess deductions recorded for tax purposes was relieved to additional paid-in capital upon the conversions.

On June 30, 2012, the conversion of 6,700 notes was pending, with a settlement date of July 10, 2012. The conversion resulted in the payment of $3.0 million in cash and the issuance of 53,328 shares of common stock at a weighted average share price of $97.86.

At June 30, 2012, the conversion price on the outstanding notes was $449.17. If converted at June 30, 2012, the value would exceed the $55 million principal amount of the notes by approximately $88 million and could result in the issuance of 915,407 shares of Roper's common stock.

- 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.

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