Fair Value

12 Months Ended

Dec. 31, 2021

Roper’s debt at December 31, 2021 included $7,500 of fixed-rate senior notes with the following fair values:


$500 3.125% senior notes due 2022			507
$300 0.450% senior notes due 2022			300
$700 3.650% senior notes due 2023			730
$500 2.350% senior notes due 2024			514
$300 3.850% senior notes due 2025			323
$700 1.000% senior notes due 2025			684
$700 3.800% senior notes due 2026			768
$700 1.400% senior notes due 2027			680
$800 4.200% senior notes due 2028			899
$700 2.950% senior notes due 2029			727
$600 2.000% senior notes due 2030			578
$1,000 1.750% senior notes due 2031			941

The fair values of the senior notes are based on the trading prices of the notes, which the Company has determined to be Level 2 in the FASB fair value hierarchy.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

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