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Segment and Geographic Area Information | 12 Months Ended
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Dec. 31, 2022
Segment Reporting [Abstract] |
Segment and Geographic Area Information | Segment and Geographic Area Information As discussed in Note 1, our businesses are now reported in three segments classified based on business model and delivery of performance obligations. The segments are: Application Software, Network Software, and Technology Enabled Products. The three reportable segments (and businesses within each; including changes due to acquisitions since the realignment) are as follows: –Application Software - Aderant, CBORD/Horizon, CliniSys, Data Innovations, Deltek, Frontline Education, IntelliTrans, PowerPlan, Strata, Vertafore –Network Software - ConstructConnect, DAT, Foundry, iPipeline, iTradeNetwork, Loadlink, MHA, SHP, SoftWriters –Technology Enabled Products - CIVCO Medical Solutions, FMI, Inovonics, IPA, Neptune, Northern Digital, rf IDEAS, Verathon There were no material transactions between Roper’s reportable segments during 2022, 2021 and 2020. Operating profit by reportable 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, enterprise-wide stock-based compensation, or non-cash impairments. Items below income from operations on Roper’s Consolidated Statements of Earnings are not allocated to reportable segments. Operating assets are those assets used primarily in the operations of each reportable 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 reportable segment for 2022, 2021 and 2020 follows:
| Application Software |  | Network Software |  | Technology Enabled Products |  |  |  | Corporate |  | Total
2022 |  |  |  |  |  |  |  |  |  |  |
Net revenues | $ | 2,639.5 |  |  | $ | 1,378.5 |  |  | $ | 1,353.8 |  |  |  |  | $ | — |  |  | $ | 5,371.8 |
Operating profit | 714.0 |  |  | 570.6 |  |  | 449.1 |  |  |  |  | (209.2) |  |  | 1,524.5 |
Assets: |  |  |  |  |  |  |  |  |  |  |
Operating assets | 624.7 |  |  | 224.7 |  |  | 307.4 |  |  |  |  | 7.1 |  |  | 1,163.9 |
Intangible assets, net | 17,758.4 |  |  | 5,118.5 |  |  | 1,099.9 |  |  |  |  | — |  |  | 23,976.8 |
Other | 340.2 |  |  | 124.2 |  |  | 95.4 |  |  |  |  | 1,280.3 |  |  | 1,840.1 |
Total |  |  |  |  |  |  |  |  |  |  | 26,980.8 |
Capital expenditures | 20.7 |  |  | 8.8 |  |  | 9.2 |  |  |  |  | 1.4 |  |  | 40.1 |
Capitalized software expenditures | 28.5 |  |  | 1.7 |  |  | — |  |  |  |  | — |  |  | 30.2 |
Depreciation and other amortization | 455.8 |  |  | 164.2 |  |  | 29.8 |  |  |  |  | 0.3 |  |  | 650.1 |
2021 |  |  |  |  |  |  |  |  |  |  |
Net revenues | $ | 2,366.7 |  |  | $ | 1,223.8 |  |  | $ | 1,243.3 |  |  |  |  | $ | — |  |  | $ | 4,833.8 |
Operating profit 2 | 633.1 |  |  | 476.8 |  |  | 415.6 |  |  |  |  | (189.9) |  |  | 1,335.6 |
Assets: |  |  |  |  |  |  |  |  |  |  |
Operating assets | 576.0 |  |  | 215.5 |  |  | 250.7 |  |  |  |  | 15.4 |  |  | 1,057.6 |
Intangible assets, net | 13,498.4 |  |  | 5,364.8 |  |  | 1,122.2 |  |  |  |  | — |  |  | 19,985.4 |
Other | 205.8 |  |  | 50.4 |  |  | 33.8 |  |  |  |  | 498.0 |  |  | 788.0 |
Total 1 |  |  |  |  |  |  |  |  |  |  | 21,831.0 |
Capital expenditures | 18.0 |  |  | 5.0 |  |  | 4.5 |  |  |  |  | 1.0 |  |  | 28.5 |
Capitalized software expenditures | 26.3 |  |  | 3.4 |  |  | — |  |  |  |  | — |  |  | 29.7 |
Depreciation and other amortization | 418.7 |  |  | 164.8 |  |  | 32.1 |  |  |  |  | 0.3 |  |  | 615.9 |
2020 |  |  |  |  |  |  |  |  |  |  |
Net revenues | $ | 1,785.8 |  |  | $ | 1,069.4 |  |  | $ | 1,167.2 |  |  |  |  | $ | — |  |  | $ | 4,022.4 |
Operating profit | 467.9 |  |  | 382.7 |  |  | 412.1 |  |  |  |  | (179.8) |  |  | 1,082.9 |
Assets: |  |  |  |  |  |  |  |  |  |  |
Operating assets | 524.7 |  |  | 196.0 |  |  | 234.1 |  |  |  |  | 3.8 |  |  | 958.6 |
Intangible assets, net | 13,837.1 |  |  | 5,428.6 |  |  | 1,143.4 |  |  |  |  | — |  |  | 20,409.1 |
Other | 173.1 |  |  | 48.4 |  |  | 46.9 |  |  |  |  | 444.2 |  |  | 712.6 |
Total 1 |  |  |  |  |  |  |  |  |  |  | 22,080.3 |
Capital expenditures | 12.9 |  |  | 5.8 |  |  | 5.9 |  |  |  |  | 0.1 |  |  | 24.7 |
Capitalized software expenditures | 16.3 |  |  | 1.4 |  |  | — |  |  |  |  | — |  |  | 17.7 |
Depreciation and other amortization | 293.2 |  |  | 164.9 |  |  | 33.2 |  |  |  |  | 0.3 |  |  | 491.6 |
1 Total excludes assets held for sale of $1,882.9 and $1,944.5 associated with the 2021 Divestitures and Indicor, as applicable, on December 31, 2021 and 2020, respectively. 2 Operating profit excludes $94.4 of non-cash impairment charges. Summarized data for Roper’s U.S. and foreign operations (principally in Canada, Europe and Asia) for 2022, 2021 and 2020, based upon the country of origin of the Roper entity making the sale, was as follows:
| United States |  | Non-U.S. |  | Eliminations |  | Total
2022 |  |  |  |  |  |  |
Sales to unaffiliated customers | $ | 4,610.2 |  |  | $ | 761.6 |  |  | $ | — |  |  | $ | 5,371.8 |
Sales between geographic areas | 55.5 |  |  | 82.2 |  |  | (137.7) |  |  | — |
Net revenues | $ | 4,665.7 |  |  | $ | 843.8 |  |  | $ | (137.7) |  |  | $ | 5,371.8 |
Long-lived assets | $ | 196.5 |  |  | $ | 17.1 |  |  | $ | — |  |  | $ | 213.6 |
2021 |  |  |  |  |  |  |
Sales to unaffiliated customers | $ | 4,105.6 |  |  | $ | 728.2 |  |  | $ | — |  |  | $ | 4,833.8 |
Sales between geographic areas | 81.1 |  |  | 81.9 |  |  | (163.0) |  |  | — |
Net revenues | $ | 4,186.7 |  |  | $ | 810.1 |  |  | $ | (163.0) |  |  | $ | 4,833.8 |
Long-lived assets | $ | 167.3 |  |  | $ | 19.8 |  |  | $ | — |  |  | $ | 187.1 |
2020 |  |  |  |  |  |  |
Sales to unaffiliated customers | $ | 3,384.6 |  |  | $ | 637.8 |  |  | $ | — |  |  | $ | 4,022.4 |
Sales between geographic areas | 81.6 |  |  | 119.2 |  |  | (200.8) |  |  | — |
Net revenues | $ | 3,466.2 |  |  | $ | 757.0 |  |  | $ | (200.8) |  |  | $ | 4,022.4 |
Long-lived assets | $ | 156.4 |  |  | $ | 21.2 |  |  | $ | — |  |  | $ | 177.6 |
Export sales from the U.S. during the years ended December 31, 2022, 2021 and 2020 were $191.8, $179.9 and $180.0, respectively. In the year ended December 31, 2022, these exports were shipped primarily to Canada (42%), Europe (26%), Asia (16%) and other (16%). 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 delivered. Roper’s net revenues for the years ended December 31, 2022, 2021 and 2020 are shown below by region, except for Canada, which is presented separately:
| Application Software |  | Network Software |  | Technology Enabled Products |  |  |  | Total
2022 |  |  |  |  |  |  |  |  |
Canada | $ | 57.8 |  |  | $ | 95.9 |  |  | $ | 68.6 |  |  |  |  | $ | 222.3 |
Europe | 241.2 |  |  | 65.7 |  |  | 117.7 |  |  |  |  | 424.6 |
Asia | 4.9 |  |  | 12.2 |  |  | 56.2 |  |  |  |  | 73.3 |
Rest of the world | 35.1 |  |  | 7.5 |  |  | 43.7 |  |  |  |  | 86.3 |
Total | $ | 339.0 |  |  | $ | 181.3 |  |  | $ | 286.2 |  |  |  |  | $ | 806.5 |
2021 |  |  |  |  |  |  |  |  |
Canada | $ | 51.2 |  |  | $ | 85.2 |  |  | $ | 61.7 |  |  |  |  | $ | 198.1 |
Europe | 248.2 |  |  | 59.2 |  |  | 125.3 |  |  |  |  | 432.7 |
Asia | 3.7 |  |  | 10.9 |  |  | 49.4 |  |  |  |  | 64.0 |
Rest of the world | 37.1 |  |  | 6.5 |  |  | 37.5 |  |  |  |  | 81.1 |
Total | $ | 340.2 |  |  | $ | 161.8 |  |  | $ | 273.9 |  |  |  |  | $ | 775.9 |
2020 |  |  |  |  |  |  |  |  |
Canada | $ | 43.4 |  |  | $ | 73.6 |  |  | $ | 63.7 |  |  |  |  | $ | 180.7 |
Europe | 205.5 |  |  | 50.7 |  |  | 123.6 |  |  |  |  | 379.8 |
Asia | 3.3 |  |  | 10.9 |  |  | 45.6 |  |  |  |  | 59.8 |
Rest of the world | 37.7 |  |  | 6.0 |  |  | 45.0 |  |  |  |  | 88.7 |
Total | $ | 289.9 |  |  | $ | 141.2 |  |  | $ | 277.9 |  |  |  |  | $ | 709.0 |

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