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Segment and Geographic Area Information | 12 Months Ended
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Dec. 31, 2019
Segment Reporting [Abstract] |
Segment and Geographic Area Information | Segment and Geographic Area Information During the first quarter of 2019, we implemented a realignment of our reportable segment structure. The new reportable segments continue to provide a transparent view into Roper’s operations and capital deployment strategy and objectives. The Company’s new reporting segment structure reinforces Roper’s diversified, niche market strategy by reporting based upon business models instead of end markets. The four new reportable segments (and businesses within each; including changes due to acquisitions and divestitures since the realignment) are as follows:
– | Application Software - Aderant, CBORD, CliniSys, Data Innovations, Deltek, Horizon, IntelliTrans, PowerPlan, Strata, Sunquest
– | Network Software & Systems - ConstructConnect, DAT, Foundry, Inovonics, iPipeline, iTradeNetwork, Link Logistics, MHA, RF IDeas, SHP, SoftWriters, TransCore
– | Measurement & Analytical Solutions (1) - Alpha, CIVCO Medical Solutions, CIVCO Radiotherapy, Dynisco, FMI, Hansen, Hardy, IPA, Logitech, Neptune, Northern Digital, Struers, Technolog, Uson, Verathon
– | Process Technologies - AMOT, CCC, Cornell, FTI, Metrix, PAC, Roper Pump, Viatran, Zetec
(1) The Measurement & Analytical Solutions segment includes the results of the divestitures completed in 2019 through the transaction date for (i) the Imaging businesses, sold to Teledyne on February 5, 2019 and (ii) Gatan sold to AMETEK on October 29, 2019. There were no material transactions between Roper’s business segments during 2019, 2018 and 2017. Sales between geographic areas are primarily of finished products and are accounted for at prices intended to represent third-party prices. Operating profit by business segment and by geographic area is defined as net revenues less operating costs and expenses. These costs and expenses do not include unallocated corporate administrative expenses. Items below income from operations on Roper’s Consolidated Statements of Earnings are not allocated to business segments. Operating assets are those assets used primarily in the operations of each business segment or geographic area. Corporate assets are principally comprised of cash and cash equivalents, deferred tax assets, recoverable insurance claims, deferred compensation assets and property and equipment. Selected financial information by business segment for 2019, 2018 and 2017 follows:
| Application Software |  | Network Software & Systems |  | Measurement &Analytical Solutions |  | Process Technologies |  | Corporate |  | Total
2019 |  |  |  |  |  |  |  |  |  |  |
Net revenues | $ | 1,588.0 |  |  | $ | 1,529.5 |  |  | $ | 1,596.4 |  |  | $ | 652.9 |  |  | $ | — |  |  | $ | 5,366.8 |
Operating profit | 405.4 |  |  | 538.5 |  |  | 501.1 |  |  | 225.8 |  |  | (172.4 | ) |  | 1,498.4 |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating assets | 382.2 |  |  | 472.0 |  |  | 347.0 |  |  | 205.7 |  |  | 4.4 |  |  | 1,411.3 |
Intangible assets, net | 7,833.6 |  |  | 5,871.8 |  |  | 1,420.0 |  |  | 357.7 |  |  | — |  |  | 15,483.1 |
Other | 168.5 |  |  | 62.5 |  |  | 120.4 |  |  | 69.0 |  |  | 794.1 |  |  | 1,214.5 |
Total |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 18,108.9 |
Capital expenditures | 17.4 |  |  | 15.1 |  |  | 17.3 |  |  | 2.7 |  |  | 0.2 |  |  | 52.7 |
Capitalized software expenditures | 9.7 |  |  | 0.5 |  |  | — |  |  | — |  |  | — |  |  | 10.2 |
Depreciation and other amortization | 230.2 |  |  | 132.9 |  |  | 40.3 |  |  | 12.0 |  |  | 0.6 |  |  | 416.0 |
2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net revenues | $ | 1,452.7 |  |  | $ | 1,345.2 |  |  | $ | 1,705.6 |  |  | $ | 687.7 |  |  | $ | — |  |  | $ | 5,191.2 |
Operating profit | 358.0 |  |  | 484.4 |  |  | 523.9 |  |  | 233.6 |  |  | (203.5 | ) |  | 1,396.4 |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating assets | 392.6 |  |  | 338.3 |  |  | 336.2 |  |  | 196.4 |  |  | 6.1 |  |  | 1,269.6 |
Intangible assets, net | 7,799.9 |  |  | 3,582.0 |  |  | 1,444.5 |  |  | 362.5 |  |  | — |  |  | 13,188.9 |
Other 1 | 163.6 |  |  | 38.4 |  |  | 391.2 |  |  | 94.5 |  |  | 103.3 |  |  | 791.0 |
Total |  |  |  |  |  |  |  |  |  |  |  |  |  | 15,249.5 |
Capital expenditures | 19.0 |  |  | 8.3 |  |  | 15.4 |  |  | 6.3 |  |  | 0.1 |  |  | 49.1 |
Capitalized software expenditures | 9.1 |  |  | 0.4 |  |  | — |  |  | — |  |  | — |  |  | 9.5 |
Depreciation and other amortization | 212.8 |  |  | 98.1 |  |  | 42.6 |  |  | 12.7 |  |  | 0.8 |  |  | 367.0 |
2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net revenues | $ | 1,222.2 |  |  | $ | 1,254.1 |  |  | $ | 1,531.3 |  |  | $ | 599.9 |  |  | $ | — |  |  | $ | 4,607.5 |
Operating profit | 279.0 |  |  | 438.7 |  |  | 446.0 |  |  | 188.3 |  |  | (141.8 | ) |  | 1,210.2 |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating assets | 288.1 |  |  | 318.3 |  |  | 402.7 |  |  | 189.7 |  |  | 7.4 |  |  | 1,206.2 |
Intangible assets, net | 6,668.1 |  |  | 3,598.7 |  |  | 1,649.7 |  |  | 379.0 |  |  | — |  |  | 12,295.5 |
Other | 180.4 |  |  | 45.6 |  |  | 184.8 |  |  | 185.1 |  |  | 218.8 |  |  | 814.7 |
Total |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 14,316.4 |
Capital expenditures | 17.9 |  |  | 13.3 |  |  | 13.5 |  |  | 3.1 |  |  | 1.0 |  |  | 48.8 |
Capitalized software expenditures | 9.9 |  |  | 0.8 |  |  | 0.1 |  |  | — |  |  | — |  |  | 10.8 |
Depreciation and other amortization | 183.5 |  |  | 99.9 |  |  | 47.5 |  |  | 13.5 |  |  | 0.6 |  |  | 345.0 |
1 Includes Operating assets of $91.8 and Intangible assets, net of $159.4 associated with the Gatan business and Imaging businesses classified as held for sale. See Note 2 of the Notes to Consolidated Financial Statements included in this Annual Report. Summarized data for Roper’s U.S. and foreign operations (principally in Canada, Europe and Asia) for 2019, 2018 and 2017, based upon the country of origin of the Roper entity making the sale, was as follows:
| United States |  | Non-U.S. |  | Eliminations |  | Total
2019 |  |  |  |  |  |  |
Sales to unaffiliated customers | $ | 4,342.6 |  |  | $ | 1,024.2 |  |  | $ | — |  |  | $ | 5,366.8 |
Sales between geographic areas | 124.9 |  |  | 139.3 |  |  | (264.2 | ) |  | — |
Net revenues | $ | 4,467.5 |  |  | $ | 1,163.5 |  |  | $ | (264.2 | ) |  | $ | 5,366.8 |
Long-lived assets | $ | 164.6 |  |  | $ | 33.2 |  |  | $ | — |  |  | $ | 197.8 |
2018 |  |  |  |  |  |  |  |  |  |  |
Sales to unaffiliated customers | $ | 4,176.2 |  |  | $ | 1,015.0 |  |  | $ | — |  |  | $ | 5,191.2 |
Sales between geographic areas | 143.9 |  |  | 137.0 |  |  | (280.9 | ) |  | — |
Net revenues | $ | 4,320.1 |  |  | $ | 1,152.0 |  |  | $ | (280.9 | ) |  | $ | 5,191.2 |
Long-lived assets 1 | $ | 145.2 |  |  | $ | 30.0 |  |  | $ | — |  |  | $ | 175.2 |
2017 |  |  |  |  |  |  |  |  |  |  |
Sales to unaffiliated customers | $ | 3,679.1 |  |  | $ | 928.4 |  |  | $ | — |  |  | $ | 4,607.5 |
Sales between geographic areas | 133.2 |  |  | 187.7 |  |  | (320.9 | ) |  | — |
Net revenues | $ | 3,812.3 |  |  | $ | 1,116.1 |  |  | $ | (320.9 | ) |  | $ | 4,607.5 |
Long-lived assets | $ | 144.0 |  |  | $ | 31.4 |  |  | $ | — |  |  | $ | 175.4 |
1 Excludes Long-lived assets of $7.6 associated with the Gatan business and Imaging businesses classified as held for sale. See Note 2 of the Notes to Consolidated Financial Statements included in this Annual Report. Export sales from the U.S. during the years ended December 31, 2019, 2018 and 2017 were $531.8, $578.0 and $512.5, respectively. In the year ended December 31, 2019, these exports were shipped primarily to Asia (33%), Europe (24%), Canada (18%), Middle East (13%) and other (12%). Sales to customers outside 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 shipped. Roper’s net revenues for the years ended December 31, 2019, 2018 and 2017 are shown below by region, except for Canada, which is presented separately as it is the only country in which Roper has had greater than 4% of total revenues for any of the three years presented:
| Application Software |  | Network Software & Systems |  | Measurement &Analytical Solutions |  | Process Technologies |  | Total
2019 |  |  |  |  |  |  |  |  |
Canada | $ | 41.0 |  |  | $ | 71.1 |  |  | $ | 81.4 |  |  | $ | 28.9 |  |  | $ | 222.4 |
Europe | 188.8 |  |  | 36.7 |  |  | 307.2 |  |  | 113.8 |  |  | 646.5 |
Asia | 3.5 |  |  | 18.8 |  |  | 185.0 |  |  | 108.0 |  |  | 315.3 |
Middle East | 8.6 |  |  | 37.5 |  |  | 13.1 |  |  | 44.4 |  |  | 103.6 |
Rest of the world | 25.8 |  |  | 9.5 |  |  | 45.3 |  |  | 55.2 |  |  | 135.8 |
Total | $ | 267.7 |  |  | $ | 173.6 |  |  | $ | 632.0 |  |  | $ | 350.3 |  |  | $ | 1,423.6 |
2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Canada | $ | 38.5 |  |  | $ | 58.5 |  |  | $ | 79.3 |  |  | $ | 35.0 |  |  | $ | 211.3 |
Europe | 188.6 |  |  | 12.2 |  |  | 361.7 |  |  | 117.5 |  |  | 680.0 |
Asia | 3.2 |  |  | 11.0 |  |  | 220.3 |  |  | 115.4 |  |  | 349.9 |
Middle East | 4.7 |  |  | 48.6 |  |  | 14.4 |  |  | 34.4 |  |  | 102.1 |
Rest of the world | 29.5 |  |  | 7.8 |  |  | 42.5 |  |  | 55.0 |  |  | 134.8 |
Total | $ | 264.5 |  |  | $ | 138.1 |  |  | $ | 718.2 |  |  | $ | 357.3 |  |  | $ | 1,478.1 |
2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Canada | $ | 26.6 |  |  | $ | 52.9 |  |  | $ | 72.9 |  |  | $ | 34.7 |  |  | $ | 187.1 |
Europe | 176.5 |  |  | 11.0 |  |  | 310.6 |  |  | 98.1 |  |  | 596.2 |
Asia | 2.4 |  |  | 7.3 |  |  | 205.9 |  |  | 109.8 |  |  | 325.4 |
Middle East | 4.8 |  |  | 58.8 |  |  | 13.4 |  |  | 35.5 |  |  | 112.5 |
Rest of the world | 23.2 |  |  | 6.1 |  |  | 42.0 |  |  | 48.7 |  |  | 120.0 |
Total | $ | 233.5 |  |  | $ | 136.1 |  |  | $ | 644.8 |  |  | $ | 326.8 |  |  | $ | 1,341.2 |

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- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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