Business Segments

6 Months Ended

Jun. 30, 2023

Segment Reporting [Abstract]

Business Segments

Business Segments

The following table presents selected financial information by reportable segment:

	Three months ended June 30,						Six months ended June 30,
	2023		2022		Change %		2023		2022		Change %
Net revenues:
Application Software	$	770.3	$	627.5	22.8	%	$	1,531.7	$	1,255.7	22.0	%
Network Software	358.1		342.9		4.4	%	712.6		681.4		4.6	%
Technology Enabled Products	402.8		340.4		18.3	%	756.6		653.5		15.8	%
Total	$	1,531.2	$	1,310.8	16.8	%	$	3,000.9	$	2,590.6	15.8	%
Gross profit:
Application Software	$	531.0	$	430.9	23.2	%	$	1,051.5	$	866.3	21.4	%
Network Software	303.9		289.1		5.1	%	603.3		574.0		5.1	%
Technology Enabled Products	232.2		191.5		21.3	%	430.9		368.4		17.0	%
Total	$	1,067.1	$	911.5	17.1	%	$	2,085.7	$	1,808.7	15.3	%
Operating profit*:
Application Software	$	201.2	$	165.3	21.7	%	$	394.4	$	337.6	16.8	%
Network Software	153.1		137.1		11.7	%	300.6		273.9		9.7	%
Technology Enabled Products	139.1		111.4		24.9	%	254.6		211.1		20.6	%
Total	$	493.4	$	413.8	19.2	%	$	949.6	$	822.6	15.4	%
Long-lived assets:
Application Software	$	161.9	$	136.6	18.5	%
Network Software	28.7		27.1		5.9	%
Technology Enabled Products	29.8		27.1		10.0	%
Total	$	220.4	$	190.8	15.5	%

 

*Segment operating profit is before unallocated corporate general and administrative and enterprise-wide stock-based compensation expenses. These expenses were $58.1 and $50.9 for the three months ended June 30, 2023 and 2022, respectively, and $113.3 and $103.8 for the six months ended June 30, 2023 and 2022, respectively.