XML 38 R8.htm IDEA: XBRL DOCUMENT v2.4.1.9
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Cash flows from operating activities:      
Net earnings $ 646,033us-gaap_NetIncomeLoss $ 538,293us-gaap_NetIncomeLoss $ 483,360us-gaap_NetIncomeLoss
Adjustments to reconcile net earnings to cash flows from operating activities:      
Depreciation and amortization of property, plant and equipment 40,890us-gaap_Depreciation 37,756us-gaap_Depreciation 37,888us-gaap_Depreciation
Amortization of intangible assets 156,394us-gaap_AmortizationOfIntangibleAssets 151,434us-gaap_AmortizationOfIntangibleAssets 116,860us-gaap_AmortizationOfIntangibleAssets
Amortization of deferred financing costs 4,003us-gaap_AmortizationOfFinancingCosts 3,918us-gaap_AmortizationOfFinancingCosts 2,399us-gaap_AmortizationOfFinancingCosts
Non-cash stock compensation 63,027us-gaap_ShareBasedCompensation 53,133us-gaap_ShareBasedCompensation 40,773us-gaap_ShareBasedCompensation
Changes in operating assets and liabilities, net of acquired businesses:      
Accounts receivable (404)us-gaap_IncreaseDecreaseInAccountsAndOtherReceivables 32,800us-gaap_IncreaseDecreaseInAccountsAndOtherReceivables (16,455)us-gaap_IncreaseDecreaseInAccountsAndOtherReceivables
Inventories 6,349us-gaap_IncreaseDecreaseInInventories (12,687)us-gaap_IncreaseDecreaseInInventories 18,361us-gaap_IncreaseDecreaseInInventories
Unbilled Receivables (10,305)us-gaap_IncreaseDecreaseInUnbilledReceivables (14,754)us-gaap_IncreaseDecreaseInUnbilledReceivables (5,122)us-gaap_IncreaseDecreaseInUnbilledReceivables
Accounts payable and accrued liabilities (20,455)us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities 23,305us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities 9,209us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
Income taxes payable (46,619)rop_IncomeTaxes (6,427)rop_IncomeTaxes (15,988)rop_IncomeTaxes
Other, net 1,528us-gaap_PaymentsForOtherOperatingActivities (4,218)us-gaap_PaymentsForOtherOperatingActivities 6,567us-gaap_PaymentsForOtherOperatingActivities
Cash provided by operating activities 840,441us-gaap_NetCashProvidedByUsedInOperatingActivities 802,553us-gaap_NetCashProvidedByUsedInOperatingActivities 677,852us-gaap_NetCashProvidedByUsedInOperatingActivities
Cash flows from investing activities:      
Acquisitions of businesses, net of cash acquired (305,379)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired (1,074,413)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired (1,467,772)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired
Capital expenditures (37,644)us-gaap_PaymentsToAcquireProductiveAssets (42,528)us-gaap_PaymentsToAcquireProductiveAssets (38,405)us-gaap_PaymentsToAcquireProductiveAssets
Proceeds from sale of assets 1,506us-gaap_PaymentsForProceedsFromProductiveAssets 2,174us-gaap_PaymentsForProceedsFromProductiveAssets 1,315us-gaap_PaymentsForProceedsFromProductiveAssets
Other, net (6,588)us-gaap_PaymentsForProceedsFromOtherInvestingActivities (1,096)us-gaap_PaymentsForProceedsFromOtherInvestingActivities (683)us-gaap_PaymentsForProceedsFromOtherInvestingActivities
Cash used in investing activities (348,105)us-gaap_NetCashProvidedByUsedInInvestingActivities (1,115,863)us-gaap_NetCashProvidedByUsedInInvestingActivities (1,505,545)us-gaap_NetCashProvidedByUsedInInvestingActivities
Cash flows from financing activities:      
Proceeds from senior notes 0us-gaap_ProceedsFromIssuanceOfSeniorLongTermDebt 800,000us-gaap_ProceedsFromIssuanceOfSeniorLongTermDebt 900,000us-gaap_ProceedsFromIssuanceOfSeniorLongTermDebt
Payment of senior notes 0us-gaap_MaturitiesOfSeniorDebt (500,000)us-gaap_MaturitiesOfSeniorDebt 0us-gaap_MaturitiesOfSeniorDebt
Borrowings/(payments) under revolving line of credit, net (250,000)us-gaap_RepaymentsOfLinesOfCredit 150,000us-gaap_RepaymentsOfLinesOfCredit 100,000us-gaap_RepaymentsOfLinesOfCredit
Principal payments on convertible notes (561)us-gaap_RepaymentsOfConvertibleDebt (3,702)us-gaap_RepaymentsOfConvertibleDebt (57,304)us-gaap_RepaymentsOfConvertibleDebt
Debt issuance costs 0us-gaap_PaymentsOfDebtIssuanceCosts (7,717)us-gaap_PaymentsOfDebtIssuanceCosts (12,213)us-gaap_PaymentsOfDebtIssuanceCosts
Cash dividends to stockholders (79,859)us-gaap_PaymentsOfDividends (49,092)us-gaap_PaymentsOfDividends (69,903)us-gaap_PaymentsOfDividends
Treasury stock sales 2,751us-gaap_ProceedsFromSaleOfTreasuryStock 2,449us-gaap_ProceedsFromSaleOfTreasuryStock 2,195us-gaap_ProceedsFromSaleOfTreasuryStock
Stock award tax excess windfall benefit 21,081us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities 11,709us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities 30,747us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
Proceeds from stock based compensation, net 10,463rop_ProceedsFromStockBasedCompensationNet 7,944rop_ProceedsFromStockBasedCompensationNet 37,679rop_ProceedsFromStockBasedCompensationNet
Redemption Premium Convertible Debt (1,518)rop_RedemptionPremiumConvertibleDebt (9,124)rop_RedemptionPremiumConvertibleDebt (76,641)rop_RedemptionPremiumConvertibleDebt
Other (461)us-gaap_ProceedsFromPaymentsForOtherFinancingActivities 1,166us-gaap_ProceedsFromPaymentsForOtherFinancingActivities (690)us-gaap_ProceedsFromPaymentsForOtherFinancingActivities
Cash used in financing activities (298,104)us-gaap_NetCashProvidedByUsedInFinancingActivities 403,633us-gaap_NetCashProvidedByUsedInFinancingActivities 853,870us-gaap_NetCashProvidedByUsedInFinancingActivities
Effect of foreign currency exchange rate changes on cash (43,522)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents (1,193)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents 6,312us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents
Net increase in cash and cash equivalents 150,710us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 89,130us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 32,489us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and cash equivalents, beginning of year 459,720us-gaap_CashAndCashEquivalentsAtCarryingValue 370,590us-gaap_CashAndCashEquivalentsAtCarryingValue 338,101us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and cash equivalents, end of year 610,430us-gaap_CashAndCashEquivalentsAtCarryingValue 459,720us-gaap_CashAndCashEquivalentsAtCarryingValue 370,590us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash paid for:      
Interest 74,446us-gaap_InterestPaidNet 94,648us-gaap_InterestPaidNet 67,804us-gaap_InterestPaidNet
Income taxes, net of refunds received 300,969us-gaap_IncomeTaxesPaidNet 210,540us-gaap_IncomeTaxesPaidNet 188,560us-gaap_IncomeTaxesPaidNet
Noncash investing activities:      
Fair value of assets, including goodwill 324,717us-gaap_FairValueOfAssetsAcquired 1,275,827us-gaap_FairValueOfAssetsAcquired 1,824,453us-gaap_FairValueOfAssetsAcquired
Liabilities assumed (19,338)us-gaap_LiabilitiesAssumed1 (201,414)us-gaap_LiabilitiesAssumed1 (356,681)us-gaap_LiabilitiesAssumed1
Cash paid, net of cash acquired $ 305,379rop_CashPaidToAcquireBusinessNetOfCashAcquired $ 1,074,413rop_CashPaidToAcquireBusinessNetOfCashAcquired $ 1,467,772rop_CashPaidToAcquireBusinessNetOfCashAcquired