<SEC-DOCUMENT>0000882835-13-000013.txt : 20130517
<SEC-HEADER>0000882835-13-000013.hdr.sgml : 20130517
<ACCEPTANCE-DATETIME>20130402155855
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0000882835-13-000013
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20130402

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ROPER INDUSTRIES INC
		CENTRAL INDEX KEY:			0000882835
		STANDARD INDUSTRIAL CLASSIFICATION:	INDUSTRIAL INSTRUMENTS FOR MEASUREMENT, DISPLAY, AND CONTROL [3823]
		IRS NUMBER:				510263969
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0420

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		6901 PROFESSIONAL PKWY EAST
		STREET 2:		SUITE 200
		CITY:			SARASOTA
		STATE:			FL
		ZIP:			34240
		BUSINESS PHONE:		9415562601

	MAIL ADDRESS:	
		STREET 1:		6901 PROFESSIONAL PKWY EAST
		STREET 2:		SUITE 200
		CITY:			SARASOTA
		STATE:			FL
		ZIP:			34240

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ROPER INDUSTRIES INC /DE/
		DATE OF NAME CHANGE:	19930328
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<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman', serif; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 216pt; FONT-SIZE: 12pt">April 2, 2013</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 12pt; FONT-WEIGHT: bold"><u>VIA EDGAR SUBMISSION AND FEDERAL EXPRESS</u></div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 12pt">Securities and Exchange Commission</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 12pt">Division of Corporation Finance</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 12pt">100 F Street, N.E.</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 12pt">Washington, DC 20549</div>

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<div style="TEXT-ALIGN: left"><font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 12pt">Attention:</font><font style="FONT-SIZE: 5.14pt" id="TRGRRTFtoHTMLTab">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 12pt">Mr. Kevin L. Vaughn, Accounting Branch Manager</font></div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 72pt; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 12pt">Division of Corporate Finance</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 12pt; FONT-WEIGHT: bold">Roper Industries, Inc.</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 12pt; FONT-WEIGHT: bold">Form 10-K for the Year Ended December 31, 2012</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 12pt; FONT-WEIGHT: bold">Filed February 25, 2013</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 12pt; FONT-WEIGHT: bold">File No. 001-12273</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt">Dear Mr. Vaughn:</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', serif; MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt">This letter responds to the comments of the Staff (the "<font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 12pt; FONT-WEIGHT: bold">Staff</font>") of the Securities and Exchange Commission (the "<font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 12pt; FONT-WEIGHT: bold">Commission</font>") to Mr.&#160;John Humphrey, Roper Industries, Inc. (the "<font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 12pt; FONT-WEIGHT: bold">Company</font>") in the letter dated March 19, 2013 (the "<font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 12pt; FONT-WEIGHT: bold">Comment Letter</font>") regarding the above-referenced Form&#160;10-K for the Company's fiscal year ended December&#160;31, 2012.</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', serif; MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt">Set forth below are the Staff's comments (in bold) and the Company's responses thereto, organized as set forth in the Comment Letter.</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; MARGIN-LEFT: 36pt; FONT-SIZE: 12pt">&#160;Form 10-K for the year ended December 31, 2012</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; MARGIN-LEFT: 36pt; FONT-SIZE: 12pt">Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; MARGIN-LEFT: 36pt; FONT-SIZE: 12pt">Financial Condition, Liquidity and Capital Resources</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; MARGIN-LEFT: 63pt; FONT-SIZE: 12pt; FONT-WEIGHT: bold">1. &#160;We note that you redeemed a portion of your Senior Subordinated Convertible Notes during the year ended December 31, 2012, resulting in payment of a redemption premium of approximately $77 million. Please clarify for us the total amount of your convertible debt redemptions and the circumstances that led to the redemptions and payment of the redemption premium. Additionally clarify how you accounted for the redemption and cite any authoritative literature upon which you relied. Revise future filings as necessary.</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; MARGIN-LEFT: 36pt; FONT-SIZE: 12pt">We respectfully clarify that our Senior Subordinated Convertible Notes (the "Notes") were not redeemed by the Company during 2012, but were converted (or redeemed) by the holders of the Notes.</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; MARGIN-LEFT: 36pt; FONT-SIZE: 12pt">As noted in our 10-K, upon conversion by a note holder, the Company pays the value of the accreted principal in cash, and at the discretion of the Company, the remainder of the conversion value (or premium) is paid in cash or stock. Prior to 2012, all such premium was paid in stock. During 2012, some of the premium was paid in cash, leading to the inclusion of such payments in the statement of cash flows as "Redemption premium on convertible debt".</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; MARGIN-LEFT: 36pt; FONT-SIZE: 12pt">The total cash paid during the year ended December 31, 2012 for the conversion of the Notes was $133.9 million, which includes $57.3 million for the accreted principal and $76.6 million of premium based on conversion values.</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; MARGIN-LEFT: 36pt; FONT-SIZE: 12pt">The Company is in accordance with Accounting Standards Codification ("ASC") No. 470-20,<font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 12pt"> Debt with Conversion and Other Options, </font>when accounting for the notes. Specifically, the example in ASC No. 470-20-55-80, illustrates how a conversion is recorded. In accounting for the conversion of the notes, debt and the related conversion option in equity are debited and cash is credited. If stock is issued, rather than cash for the premium, then common stock and additional paid in capital would be credited along with cash paid for the accreted principle.</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; MARGIN-LEFT: 36pt; FONT-SIZE: 12pt">In future filings, the Company will clarify between Note holder conversions and Note redemptions.</div>

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<div style="TEXT-ALIGN: center; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', serif; MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt">* * * *</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', serif; MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt">In connection with the Company's response to the comments of the Staff set forth herein, the Company acknowledges the following:</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt">the Company is responsible for the adequacy and accuracy of the disclosure in the filing;</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt">Staff comments or changes to disclosure in response to Staff comments do not foreclose the Commission from taking any action with respect to the filing; and</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt">the Company may not assert Staff comments as a defense in any proceeding initiated by the Commission or any person under the federal securities laws of the United States.</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt">&#173;&#173;&#173;&#173;&#173;&#173;&#173;&#173;&#173;&#173;&#173;&#173;&#173;&#173;&#173;&#173;&#173;&#173;</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt">Please address any comments or questions with respect to the foregoing to the undersigned at (941) 556-2616.</div>

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<td style="WIDTH: 50%">Very truly yours,</td>
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<td style="WIDTH: 50%">/<u>s/ John Humphrey</u></td>
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<td style="WIDTH: 50%">John Humphrey</td>
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