Roper Annual Report 2024

FY2024 Annual Report · Roper

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Simple ideas.
Powerful results.
2024 annual report

2024 highlights
Revenue
+14%
to $7.04 billion
EBITDA
+13%
to $2.83 billion
Capital deployed
$3.6B
toward acquisitions
+6% Organic
+8% M&A contribution
FȯƲƲ٪ƤƇȷǕ٪˛ȉɦ
+16%
32% margin
Annual dividend
+10%
32nd consecutive
annual increase

Total shareholder return
Roper Technologies
1
Roper Technologies, Inc.
S&P 500
($100 invested at IPO)
0
$5,000
$10,000
$15,000
$20,000
$25,000
$30,000
$35,000
’24
’23
’22
’21
’20
’19
’18
’17
’16
’15
’14
’13
’12
’11
’10
’09
’08
’07
’06
’05
’04
’03
’02
’01
’00
’99
’98
’97
’96
’95
’94
’93
’92
IPO

Dear fellow shareholders,
2024 annual report
2
Introduction
2024 was another strong demonstration of Roper
Technologies’
consistent
and
durable
cash
ﬂow
compounding model. Our free cash ﬂow grew 16% to $2.3
billion during the year, exceeding the $2 billion milestone
for the ﬁrst time in our history. Importantly, as we
continue to compound and grow, we relentlessly work
to improve the quality of our enterprise – our portfolio,
our growth potential, our talent, our operating system,
and our capital deployment process and corresponding
returns. We are proud of our team’s strong performance
in 2024 and excited about our positive momentum
entering 2025.
2024 overview
Our enterprise continued to perform at a very high level
in 2024. Total revenue increased 14% to $7.0 billion, driven
by 6% organic growth and an 8% contribution from
our disciplined and process-driven capital deployment
capabilities. We continue to beneﬁt from the growth
and expansion of our software-related recurring and
reoccurring revenue base, which now stands at $4.6
billion. EBITDA increased 13% to $2.8 billion and free cash
ﬂow increased 16% to $2.3 billion, with after-tax free cash
ﬂow margins of 32%.
Despite difﬁcult capital market conditions, we deployed
$3.6 billion of capital toward high-quality vertical software
acquisitions, highlighted by Procare Solutions, a leading
early childhood education software company, and
Transact Campus, which was successfully combined with
our CBORD education & healthcare software business.
Notably, our 2024 cohort of acquisitions not only meets
each of our historical criteria but also meets our higher
growth and higher return ambitions.
Roper will continue to allocate most of our excess cash
ﬂow toward acquisition-related activity and we remain
committed to increasing our dividend to shareholders.
With a 10% increase, 2024 marked the 32nd consecutive
year that we have increased our annual dividend.
Long-term compounding
Our north star has been and continues to be delivering
elite levels of long-term compounded returns to our
shareholders. A relentless commitment to our simple, yet
powerful business model has delivered total shareholder
returns that are double that of the equal weighted S&P 500
over the past 15 years. Over that same period, our revenue
has compounded 9% annually, EBITDA has compounded
12% annually, free cash ﬂow has compounded 14%
annually, and our market capitalization has compounded
18% annually, despite divesting businesses accounting for
~40% of our 2018 revenue. Improving the overall quality of
the enterprise has been a core part of our strategy during
this 15-year period, with EBITDA margins expanding
from 24% to 40%, software as a percentage of revenue
increasing from ~10% to ~76%, and net working capital,
as a percentage of revenue, improving from +8% to (19)%.
Roper’s elite shareholder returns are driven by
the combination of our businesses’ durable cash
flow compounding and our disciplined capital
deployment process.
The consistent cash ﬂow generation from our businesses
is fueled by their niche market leadership, providing
mission critical solutions to customers, and Roper’s high
trust autonomous operating model. Our process driven
capital deployment utilizes a centralized approach to
ensure we remain focused and unbiased in our efforts
to acquire the highest quality businesses. While we have
continuously and signiﬁcantly enhanced the quality
of the enterprise over time, we remain laser focused
on further improving our organic growth proﬁle and
capturing more value from our capital deployment
efforts; which, in turn, will continue to deliver long-term,
compounding, and elite levels of shareholder returns.
Neil Hunn
President and Chief Executive Ofﬁcer

2024
2021
$7.04
$4.83
Revenue
(in billions)
+13% CAGR
2024
2021
$2.28
$1.60
IȲƵƵƧƊȺǘ˜Ȍɩ
(in billions)
+13% CAGR
2024
2021
$2.83
$1.94
EBITDA
(in billions)
+13% CAGR
Niche market-leading businesses with mission
critical solutions
Including our recently announced acquisition of
CentralReach, Roper will own and actively manage a
portfolio of 29 businesses that are each clear leaders
in their respective defensible, niche markets. Our
businesses deliver highly specialized and mission
critical solutions to their customers, and they compete
and win based on deep customer intimacy. This
mission-critical nature and customer intimacy is
quantitatively visible in our high gross margins and
strong customer retention, both of which fuel the
growth in our recurring revenue base. Each of our
businesses also operates an asset light business model
that requires minimal capital investment, which
produces exceptional cash flow returns.
High trust autonomous operating model
Roper’s operating model and culture are built on
foundations of trust and autonomy, which taken together
reinforce an extraordinary degree of accountability
throughout the enterprise. Additionally, our business
leadership teams have an authentic ownership mindset,
are passionate about competing and winning in their
individual niche markets, and are building for long-term,
durable success. With the freedom to make resource
allocation decisions, our business leaders can set
strategy and execution priorities while staying intimate
with customers. But with this freedom comes very high
expectations for performance; speciﬁcally, for competing
and winning. The success of this system is reinforced by
our use of growth-based incentives. Everyone at Roper,
including business leaders and our corporate team, are
paid to grow, not achieve negotiated annual performance
targets.
Our operating model has evolved to incorporate common
methodologies that enable operating excellence and
help drive improved long-term organic growth. It begins
with running an effective talent offense, where we select
the best leaders in the market with high levels of innate
leadership characteristics. We provide these leaders
with exceptional learning and career opportunities, and
a culture where every member of the team is deeply
engaged in the success of their customers. Once we have
the right team in place, we then focus on developing long-
term, business-speciﬁc strategies that are optimized
in market segments where our businesses have the
highest right to win. After strategies have been ﬁnalized,
we emphasize the importance of running a structured
operating system that is built upon the core principles of
continuous improvement.
Process-driven capital deployment
In contrast to our decentralized operating structure,
our capital deployment process is highly centralized. To
achieve elite levels of long-term cash ﬂow compounding,
we ensure that individual bias does not inﬂuence
our capital allocation decisions. With this foundation,
we are free to consider a wide range of acquisition
opportunities, and we have a uniquely high success rate
because our team can remain analytical, disciplined,
and objective throughout the entire process. Because
our acquisitions are corporate led, we ensure that our
approach remains consistent and low risk, and that we
continue deploying capital toward the highest and best
use for our shareholders.
Enhancing our cash ﬂow compounding
To enhance Roper’s cash ﬂow compounding we are
focused on two strategic levers: further improving
our organic growth proﬁle and capturing more value
from our capital deployment efforts. We have made
meaningful progress in both of these areas over the past
few years, and we are conﬁdent this positive momentum
will continue in the years ahead.
As mentioned above, our effort to durably improve
organic growth is underpinned by running our talent
offense, ensuring our businesses have clear long-
term strategies with a high right to win, and a highly
structured operating system focused on continuous
improvement. Our multi-year commitment to talent has
really taken shape, and we are now beneﬁted by having
the best, most competitive group of business leaders
in our history. With this critical foundation in place, we
are starting to see those great leaders hire more great
leaders. The result has been more data-driven strategies
and more deeply connected operating plans that give
us increased conﬁdence in the long-term acceleration of
our organic growth.
While we have a strong track record of successful
acquisitions over the past two decades, we are focused
on opportunities to capture additional value from our
capital deployment. The ﬁrst enhancement to our
existing strategy is to deploy a larger portion of capital to
bolt-on acquisitions that are combined with one of our
existing businesses. You have seen our increased focus on
bolt-on acquisitions over the past couple of years, and we
expect this trend to continue. The second enhancement
Roper Technologies
3

is to acquire businesses that are earlier in their lifecycle,
what we call “maturing leaders”. These acquisitions meet
each of our long-standing acquisition criteria, while
also having structurally faster organic growth proﬁles
together with the ability to expand margins under Roper’s
long-term ownership. This enhanced approach to capital
deployment enables increased cash ﬂow compounding
without compromising our low-risk principles.
GenAI opportunity
Over the past year, we made signiﬁcant strides across the
enterprise with our GenAI development and deployment,
and we expect to see many more exciting deployments
throughout 2025. Our intimacy and deep knowledge
of our customers’ businesses, needs, and workﬂows is a
unique and competitively differentiated advantage for
Roper and our businesses, and is the context needed to
fuel highly tuned GenAI models and inference. Now that
GenAI large language models are improving in ﬁdelity
and becoming increasingly more democratized and cost
effective, we are focused on combining our intimacy,
deep reservoir of data, and these GenAI technologies to
innovate and deliver compelling solutions that contribute
to the acceleration of our organic growth. We are excited
about the potential to combine our customer intimacy
with GenAI advances to create increasingly higher levels
of value for our customers and our shareholders.
Simple ideas. Powerful results.
I always like to remind everyone that what we do at Roper
is simple. We compound cash ﬂow by executing a low-risk
strategy and running a dual threat offense. First, we have
a proven and powerful business model that operates a
portfolio of market-leading, application-specific, and
vertically-oriented businesses. Once a business is part of
Roper, we provide a decentralized environment so that
our businesses can compete and win based on customer
intimacy. We coach our businesses on how to structurally
improve their long-term and sustainable organic growth
rates and underlying quality of their business. Second,
we run a centralized, process-driven capital deployment
strategy that focuses in a deliberate and disciplined
manner on cultivating, curating, and acquiring the next
great vertical market-leading businesses to add to our
cash ﬂow compounding ﬂywheel. Taken together, we
compound cash ﬂow in the mid-teens over the long-
term, meaning we double our cash ﬂow approximately
every ﬁve years. These simple ideas continue to produce
powerful results for our shareholders.
Looking ahead
Roper not only grew substantially in 2024, but we enter
2025 as a fundamentally better company. This past year, we
upgraded key leadership talent, expanded and enhanced
our capital deployment function, and advanced our
operating model. As a result, we are entering 2025 with
broad-based and positive momentum. Our double-digit
2025 total revenue growth outlook is fueled by durable
organic growth and meaningful contributions from
our 2024 acquisitions. We believe these growth drivers,
combined with our signiﬁcant M&A ﬁrepower and large
pipeline of attractive acquisition opportunities, position
Roper well to continue delivering compelling long-term
cash ﬂow compounding for our shareholders.
As I prepare this letter, the investment community
is confronting extreme levels of macroeconomic
uncertainty and market volatility. Roper’s durable cash
ﬂow compounding model has historically performed well
through economic and market cycles, and we expect
our resilience will again be demonstrated in the current
environment.
Thank you for being a valued shareholder!
Sincerely,
Neil Hunn
Unless otherwise noted, financial information is presented on an adjusted
(non-GAAP) and continuing operations basis. A reconciliation can be found on
page 71. Please see information about forward looking statements on page 9.
2024
2009
69%
51%
Full year
gross margin
+1,800 Bps
2024
2009
40%
24%
Full year
EBITDA margin
+1,600 Bps
2024
2009
Net working
capital as % of
annualized revenue
(2,700) Bps
(19)%
8%
Note: 2009 as previously reported. 2024 on a continuing operations basis.
2024 annual report
4

2024 form 10-K

(THIS PAGE INTENTIONALLY LEFT BLANK)

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K
; ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
yɁɨɽȃǉǹȈɰƺƃȢʰǉƃɨǉȶǁǉǁAǉƺǉȴƹǉɨԝјіӗїѕїљ
or
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from
to
Commission file number: 1-12273
ROPER TECHNOLOGIES, INC.
(Exact name of registrant as specified in its charter)
Delaware
51-0263969
(State or other jurisdiction of
(I.R.S. Employer
incorporation or organization)
Identification No.)
6496 University Parkway
Sarasota, Florida 34240
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code: (941) 556-2601
SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT:
Title of Each Class
Trading Symbol (s)
Name of Each Exchange On Which Registered
Common Stock, $0.01 Par Value
ROP
The Nasdaq Stock Market LLC
SECURITIES REGISTERED PURSUANT TO SECTION 12(g) OF THE ACT: None
Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. ;ťǉɰԝԝ No
Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. ťǉɰԝԝ; No
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities
Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such
reports), and (2) has been subject to such filing requirements for the past 90 days. ;ťǉɰԝԝ No
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted
pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that
the registrant was required to submit such files). ;ťǉɰԝԝ No
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller
reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller
reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. ; Large accelerated filer Accelerated
ǹȈȢǉɨԝ Non-accelerated filer Smaller reporting company Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effec-
tiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the
registered public accounting firm that prepared or issued its audit report. ;
If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the reg-
istrant included in the filing reflect the correction of an error to previously issued financial statements.
Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based
compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). ťǉɰԝԝ; No
9ƃɰǉǁɁȶɽȃǉƺȢɁɰȈȶǼɰƃȢǉɥɨȈƺǉɁȶěȃǉÇƃɰǁƃɧČɽɁƺȟÃƃɨȟǉɽӯԄÇƃɰǁƃɧԅӰӗɁȶ°ʍȶǉԝјѕӗїѕїљӗɽȃǉƃǼǼɨǉǼƃɽǉȴƃɨȟǉɽʤƃȢʍǉɁǹɽȃǉʤɁɽȈȶǼ
and non-voting common stock held by non-affiliates of the registrant was: $60.2 billion.
ÇʍȴƹǉɨɁǹɰȃƃɨǉɰɁʍɽɰɽƃȶǁȈȶǼɁǹɽȃǉɨǉǼȈɰɽɨƃȶɽԇɰƺɁȴȴɁȶɰɽɁƺȟƃɰɁǹyǉƹɨʍƃɨʰԝіљӗїѕїњӖіѕќӗјѝњӗїѕќӝ
DOCUMENTS INCORPORATED BY REFERENCE
Portions of the registrant’s Proxy Statement to be furnished to stockholders in connection with its 2025 Annual Meeting of
Stockholders are incorporated by reference into Part III, Items 10, 11, 12, 13, and 14 of this Annual Report on Form 10-K.

ĄÝĀKĄěK:ÇÝ¸Ý{KČӓ2024 ANNUAL REPORT
8
ROPER TECHNOLOGIES, INC.
FORM 10-K FOR THE FISCAL YEAR ENDED DECEMBER 31, 2024
PART I

Page
Item 1.
Business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
Item 1A.
Risk Factors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
Item 1B.
Unresolved Staff Comments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .20
Item 1C.
Cybersecurity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21
Item 2.
Properties . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22
Item 3.
Legal Proceedings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22
Item 4.
Mine Safety Disclosures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22
ȶǹɁɨȴƃɽȈɁȶƹɁʍɽÝʍɨKʯǉƺʍɽȈʤǉÝǹˎƺǉɨɰ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22
ĀĄě
ԝԝ
Item 5.
Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases
ɁǹԝKɧʍȈɽʰČǉƺʍɨȈɽȈǉɰ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23
Item 6.
[Reserved] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24
Item 7.
Management’s Discussion and Analysis of Financial Condition and Results of Operations . . . . . . . . . . . . . . . . 24
Item 7A.
Quantitative and Qualitative Disclosures About Market Risk . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31
ɽǉȴѝӝ
yȈȶƃȶƺȈƃȢČɽƃɽǉȴǉȶɽɰƃȶǁČʍɥɥȢǉȴǉȶɽƃɨʰAƃɽƃ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31
Item 9.
Changes in and Disagreements with Accountants on Accounting and Financial Disclosure . . . . . . . . . . . . . .63
Item 9A.
Controls and Procedures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .63
Item 9B.
Other Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .63
Item 9C.
Disclosure Regarding Foreign Jurisdictions that Prevent Inspections . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .63
ĀĄě
ԝԝ
ɽǉȴіѕӝ
AȈɨǉƺɽɁɨɰӗKʯǉƺʍɽȈʤǉÝǹˎƺǉɨɰƃȶǁ:ɁɨɥɁɨƃɽǉ{Ɂʤǉɨȶƃȶƺǉ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .64
Item 11.
Executive Compensation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .64
ɽǉȴіїӝ
ČǉƺʍɨȈɽʰÝʥȶǉɨɰȃȈɥɁǹ:ǉɨɽƃȈȶ9ǉȶǉˎƺȈƃȢÝʥȶǉɨɰƃȶǁÃƃȶƃǼǉȴǉȶɽƃȶǁĄǉȢƃɽǉǁ
Stockholder Matters . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .64
Item 13.
Certain Relationships and Related Transactions, and Director Independence . . . . . . . . . . . . . . . . . . . . . . . . . . . . .65
Item 14.
Principal Accountant Fees and Services . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .65
ĀĄěř
ԝԝ
Item 15.
Exhibits and Financial Statement Schedules . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .66
Item 16.
Form 10-K Summary. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
y
69
Signatures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .70
TABLE OF CONTENTS

ĄÝĀKĄěK:ÇÝ¸Ý{KČӓ2024 ANNUAL REPORT
9
ÇyÝĄÃěÝÇ9ÝĩěyÝĄŚĄAӳ¸ÝÝ¶Ç{ČěěKÃKÇěČ
This Annual Report on Form 10-K (“Annual Report”) includes and incorporates by reference “forward-looking state-
ments” within the meaning of the federal securities laws. In addition, we, or our executive officers on our behalf, may
from time to time make forward-looking statements in reports and other documents we file with the U.S. Securities
and Exchange Commission (“SEC”) or in connection with oral statements made to the press, potential investors, or
ɁɽȃǉɨɰӝȢȢɰɽƃɽǉȴǉȶɽɰɽȃƃɽƃɨǉȶɁɽȃȈɰɽɁɨȈƺƃȢǹƃƺɽɰƃɨǉԄǹɁɨʥƃɨǁӸȢɁɁȟȈȶǼɰɽƃɽǉȴǉȶɽɰӝԅԝyɁɨʥƃɨǁӸȢɁɁȟȈȶǼɰɽƃɽǉȴǉȶɽɰȴƃʰ
be indicated by words or phrases such as “anticipate,” “estimate,” “plans,” “expects,” “projects,” “should,” “will,” “believes,”
“intends,” and similar words and phrases. These statements reflect management’s current beliefs and are not guaran-
tees of future performance. They involve risks and uncertainties that could cause actual results to differ materially
from those contained or implied in any forward-looking statement.
Examples of forward-looking statements in this report include but are not limited to statements regarding operating
results, the success of our operating plans, our expectations regarding our ability to generate cash and reduce debt
and associated interest expense, profit and cash flow expectations, the prospects for newly acquired businesses to be
integrated and contribute to future growth, and our expectations regarding growth through acquisitions. Important
assumptions relating to the forward-looking statements include, among others, demand for our products, the cost,
timing, and success of product upgrades and new product introductions, raw materials costs, expected pricing levels,
expected outcomes of pending litigation, competitive conditions, and general economic conditions. These assump-
tions could prove inaccurate. Although we believe that the estimates and projections reflected in the forward-looking
statements are reasonable, our expectations may prove to be incorrect. Important factors that could cause actual
results to differ materially from estimates or projections contained in the forward-looking statements include but are
not limited to:
• general economic conditions;
• difficulty making acquisitions, including receiving the necessary regulatory approvals (including clearance under
the Hart-Scott-Rodino Act in the U.S. and similar antitrust regulations in foreign countries), and successfully
integrating acquired businesses;
• any unforeseen liabilities associated with future acquisitions;
• information technology system failures, data security breaches, network disruptions, and cybersecurity events,
including any litigation arising therefrom;
• failure to comply with new data privacy laws and regulations, including any litigation arising therefrom;
• risks and costs associated with our international sales and operations;
• rising interest rates;
• limitations on our business imposed by our indebtedness;
• product liability, litigation, and insurance risks;
• future competition;
• reduction of business with large customers;
• risks associated with government contracts;
• changes in the supply of, or price for, labor, energy, raw materials, parts, and components, including as a result
of inflation or potential supply chain constraints;
• potential write-offs of our goodwill and other intangible assets;
• our ability to successfully develop new products;
• failure to protect our intellectual property;
• unfavorable changes in foreign exchange rates;
• risks related to changing U.S. and foreign trade policies, including increased trade restrictions or tariffs;
• increased warranty exposure;
• environmental compliance costs and liabilities;
• the effect of, or change in, government regulations (including tax);
• risks associated with the use of artificial intelligence;
• economic disruption caused by armed conflicts (such as the war in Ukraine and the conflict in the Middle East),
terrorist attacks, health crises (such as the COVID-19 pandemic), or other unforeseen geopolitical events; and
• the factors discussed in Item 1A of this Annual Report under the heading “Risk Factors.”
You should not place undue reliance on any forward-looking statements, which are based on current expectations.
Further, forward-looking statements speak only as of the date they are made, and we undertake no obligation to
publicly update any of these statements in light of new information or future events.

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PART I
ITEM 1 | BUSINESS
ALL CURRENCY AMOUNTS ARE IN MILLIONS UNLESS SPECIFIED
OUR BUSINESS
Roper Technologies, Inc. (“Roper,” the “Company,” “we,” “our,” or “us”) is a diversified technology company. Roper has a
proven, long-term, successful track record of compounding cash flow and increasing shareholder value. We operate
market leading businesses that design and develop vertical software and technology enabled products for a variety
of defensible niche markets.
We pursue consistent and sustainable growth in revenue, earnings, and cash flow by enabling continuous improve-
ment in the operating performance of our businesses and by acquiring businesses that offer high value-added soft-
ware, services, technology-enabled products, and solutions that we believe are capable of realizing growth while
maintaining high margins. We compete in many defensible niche markets and believe we are the market leader or a
competitive alternative to the market leader in most of these markets.
In the last three years, we have deployed approximately $9,950 of capital toward acquisitions. In 2024, this included
ƃɥɥɨɁʯȈȴƃɽǉȢʰԤіӗѝћѕǹɁɨɽȃǉƃƺɧʍȈɰȈɽȈɁȶɁǹĀɨɁƺƃɨǉӗƃȢǉƃǁȈȶǼɥɨɁʤȈǁǉɨɁǹČɁǹɽʥƃɨǉӸƃɰӸƃӸČǉɨʤȈƺǉӯԄČƃƃČԅӰɰɁȢʍɽȈɁȶɰƃȶǁ
integrated payment processing for early childhood education centers and approximately $1,600 for the acquisition of
Transact Campus, a leading provider of integrated campus technology and payment solutions serving higher
education, healthcare, and business campuses, which was combined with our CBORD business. In 2023, this included
ƃɥɥɨɁʯȈȴƃɽǉȢʰԤіӗјѝѕǹɁɨɽȃǉƃƺɧʍȈɰȈɽȈɁȶɁǹČʰȶɽǉȢȢȈɰӗƃȢǉƃǁȈȶǼɥɨɁʤȈǁǉɨɁǹČƃƃČɰɁȢʍɽȈɁȶɰǹɁɨȃǉƃȢɽȃƺƃɨǉӗǹȈȶƃȶƺȈƃȢ
institution, and higher education providers, which was combined with our Strata business, and 2022 included
approximately $3,750 for the acquisition of Frontline, a leading provider of SaaS solutions for school administration.
Additionally, we deployed approximately $1,360 toward other bolt-on acquisitions to help build on the strategic
position of several of our businesses.
In November 2022, Roper completed the divestiture of a majority equity stake in its industrial businesses, including its
entire historical Process Technologies reportable segment and the industrial businesses within its historical
Measurement & Analytical Solutions reportable segment (collectively “Indicor”), to Clayton, Dubilier & Rice, LLC (“CD&R”).
Following the sale of the majority stake, Roper retained a minority equity interest in Indicor. See Note 10 of the Notes
to Consolidated Financial Statements included in this Annual Report for additional information regarding Roper’s
minority equity interest in Indicor.
During 2021, Roper entered into definitive agreements to divest its TransCore, Zetec, and CIVCO Radiotherapy busi-
nesses (“2021 Divestitures”). Roper completed the 2021 Divestitures by March 2022.
The financial results of Indicor and the 2021 Divestitures are reported as discontinued operations for all periods
presented. Unless otherwise noted, discussion within Part I relates to continuing operations. Refer to Note 3 of the
Notes to Consolidated Financial Statements included in this Annual Report for further information regarding dis-
continued operations.
ŚǉʥǉɨǉȈȶƺɁɨɥɁɨƃɽǉǁɁȶAǉƺǉȴƹǉɨіќӗіўѝіʍȶǁǉɨɽȃǉȢƃʥɰɁǹɽȃǉČɽƃɽǉɁǹAǉȢƃʥƃɨǉӝ
MARKET SHARE, MARKET EXPANSION, AND PRODUCT DEVELOPMENT
Leadership with Technology and Products for Niche Markets—We maintain a leading position in many of our mar-
kets. We believe our market positions are attributable to the applications expertise used to create high value products
and solutions for our customers, the underlying critical nature of our offerings, and the inherent customer intimacy of
our chosen niche markets. Our businesses realize growth from new and existing customers in their niche markets
through successfully executing go-to-market strategies, developing new products and applications, and delivering
professional services.
Diversified End Markets and Geographic Reach—We have a global presence, with sales to customers outside of the
ĩȶȈɽǉǁČɽƃɽǉɰӯԄĩӝČӝԅӰɽɁɽƃȢȈȶǼԤўќњӝўȈȶїѕїљӝԝȶǹɁɨȴƃɽȈɁȶɨǉǼƃɨǁȈȶǼɁʍɨȈȶɽǉɨȶƃɽȈɁȶƃȢɁɥǉɨƃɽȈɁȶɰȈɰɰǉɽǹɁɨɽȃȈȶÇɁɽǉіљ
of the Notes to Consolidated Financial Statements included in this Annual Report.

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OUR REPORTABLE SEGMENTS
Roper’s segment reporting structure is based on business model and delivery of performance obligations. The three
reportable segments are as follows:
Application Software—Aderant, Clinisys, Data Innovations, Deltek, Frontline, IntelliTrans, PowerPlan, Procare, Strata,
Transact/CBORD, 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
Financial information about our reportable segments is presented in Note 14 of the Notes to Consolidated Financial
Statements included in this Annual Report.
Application Software
ÝʍɨɥɥȢȈƺƃɽȈɁȶČɁǹɽʥƃɨǉɰǉǼȴǉȶɽȃƃǁȶǉɽɨǉʤǉȶʍǉɰɁǹԤјӗѝћѝӝјǹɁɨɽȃǉʰǉƃɨǉȶǁǉǁAǉƺǉȴƹǉɨјіӗїѕїљӗɨǉɥɨǉɰǉȶɽȈȶǼ
55.0% of our total net revenues. Below is a description of the products offered by businesses that comprise the
Application Software segment:
Aderant—comprehensive management software solutions for law and other professional services firms, including
business development, calendar/docket matter management, time and billing, and case management.
Clinisys—diagnostic and laboratory information management software solutions.
Data Innovations—software solutions that enable enterprise management of hospitals and independent
laboratories.
Deltek—enterprise software and information solutions for government contractors, professional services firms,
and other project-based businesses.
Frontline—K-12 school administration software, connecting solutions for human capital management, student
and special programs, and business operations, with powerful analytics that empower educators.
IntelliTrans—transportation management software and services to bulk and break-bulk commodity producers.
—
PowerPlan—financial and compliance management software and solutions to large complex companies in asset-
—
intensive industries.
Procare—cloud-based software and integrated payment processing for the management of early childhood
education centers.
Strata—cloud-based financial analytics, performance management software, and data solutions used by
healthcare providers, higher education, and financial institutions for financial planning, decision support, and
continuous cost improvement.
Transact/CBORD—integrated campus technology and payment solutions, including secure access and campus
identity software, commerce solutions, tuition management software and payment processing, as well as
foodservice technologies, serving higher education, healthcare, K-12, and business campuses.
Vertafore—cloud-based software for the property and casualty insurance industry, including agency and
distribution management, compliance, workflow, and data solutions.
Network Software
Our Network Software segment had net revenues of $1,475.6 for the year ended December 31, 2024, representing
21.0% of our total net revenues. Below is a description of the products offered by businesses that comprise the
Network Software segment:
ConstructConnect—cloud-based data, collaboration, and estimating automation software solutions focused on
the pre-construction phase for a network of construction contractors and building product manufacturers/
distributors.
DAT—electronic marketplaces that connect available capacity of trucking units with the available loads of freight
throughout North America, and freight analytics solutions.
Foundry—software technologies used to deliver visual effects and 3D content for the entertainment and digital
—
design industries.
iPipeline—cloud-based software solutions for the life insurance/annuities and financial services industries.
iTradeNetwork—electronic marketplaces and supply chain software that connect food suppliers, distributors, and
vendors, primarily in the perishable food sector.

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Loadlink—electronic marketplaces that connect available capacity of trucking units with the available loads of
freight throughout Canada, and freight analytics solutions.
MHA—health care services and software solutions to alternate site health care markets.
SHP—data analytics and benchmarking information for the post-acute healthcare provider marketplace.
SoftWriters—software solutions to pharmacies that primarily serve the long-term care marketplace.
—
Technology Enabled Products
Our Technology Enabled Products segment had net revenues of $1,695.3 for the year ended December 31, 2024, rep-
resenting 24.0% of our total net revenues. Below is a description of the products offered by businesses that comprise
the Technology Enabled Products segment:
CIVCO Medical Solutions—accessories focused on guidance and infection control for ultrasound procedures.
FMI—dispensers and metering pumps which are utilized in a broad range of applications requiring precision fluid
control.
Inovonics—high-performance wireless sensor networks and solutions for a variety of applications.
IPA—automated surgical scrub and linen dispensing equipment for healthcare providers.
Neptune—water meters, enabling water utilities to remotely monitor their customers utilizing Automatic Meter
—
Reading (AMR), Advanced Metering Infrastructure (AMI) technologies, and cloud-based software supporting
meter data management.
Northern Digital—optical and electromagnetic precision measurement systems for medical and industrial
applications.
rf IDEAS—RFID card and credential readers used in numerous identity access management applications across a
variety of vertical markets.
Verathon—medical devices that enable airway management, including bronchoscopes and video laryngoscopes,
and bladder volume measurement solutions for healthcare providers.
MATERIALS AND SUPPLIERS
We believe most materials and supplies we use are readily available from numerous sources and suppliers throughout
the world. However, some components and sub-assemblies are currently available from only a limited number of sup-
pliers for which we regularly investigate and identify alternative sources where possible. We also believe these condi-
tions affect our competitors.
REMAINING PERFORMANCE OBLIGATIONS AND BACKLOG
Remaining performance obligations represent the transaction price of firm orders for which work has not been per-
ǹɁɨȴǉǁӗǉʯƺȢʍǁȈȶǼʍȶǉʯǉɨƺȈɰǉǁƺɁȶɽɨƃƺɽɁɥɽȈɁȶɰӝɰɁǹAǉƺǉȴƹǉɨԝјіӗїѕїљƃȶǁїѕїјӗɽɁɽƃȢɨǉȴƃȈȶȈȶǼɥǉɨǹɁɨȴƃȶƺǉ
obligations were $4,754.9 and $4,612.6, respectively.
Backlog is equal to our remaining performance obligations expected to be recognized as revenue within the next 12
ȴɁȶɽȃɰӝ9ƃƺȟȢɁǼʥƃɰԤјӗіѕњӝљƃɽAǉƺǉȴƹǉɨԝјіӗїѕїљƃȶǁԤјӗіњћӝћƃɽAǉƺǉȴƹǉɨԝјіӗїѕїјӝ
DISTRIBUTION AND SALES
Distribution and sales occur primarily through direct sales offices, manufacturers’ representatives, resellers, and
distributors.
GOVERNMENTAL REGULATIONS
We face extensive government regulation around the world relating to the development, manufacture, marketing,
sale, and distribution of our software, services, and products. The following sections describe certain significant regu-
lations to which we are subject, but these are not the only regulations with which our businesses must comply. For a
description of risks related to the regulations that our businesses are subject to, please refer to “Item 1A. Risk Factors.”
Privacy and Data Security
We are subject to privacy and data security laws around the world that may impose operational burdens on our busi-
ȶǉɰɰǉɰӝȶїѕіѝӗɽȃǉ{ǉȶǉɨƃȢAƃɽƃĀɨɁɽǉƺɽȈɁȶĄǉǼʍȢƃɽȈɁȶӯԄ{AĀĄԅӰƹǉƺƃȴǉǉǹǹǉƺɽȈʤǉȈȶɽȃǉKʍɨɁɥǉƃȶĩȶȈɁȶӯԄKĩԅӰƃȶǁ
United Kingdom (“UK”) and imposed restrictions on how companies use, process, and protect personal information.
Additionally, repeated legal challenges to the way regulators implemented GDPR provisions relating to international
data transfers have created additional operational burdens and legal risks for companies when transferring personal
data back and forth from the EU to many other countries, most notably the U.S. and India. In the U.S., at least 20 states

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have individually passed comprehensive privacy legislation, which imposes restrictions similar (but not identical) to
GDPR on companies conducting business or serving customers in those states. For example, in 2020 the California
Consumer Privacy Act (“CCPA”) became effective and required companies to make disclosures to consumers about
their data collection, use, and sharing practices; allowed consumers to exercise control over the use and sharing of
their personal data; and provided a limited private right of action for data breaches. Changes to the CCPA which
became effective in 2023 have added to the processing restrictions and notifications requirements – particularly when
companies engage in online advertising. Canada (Quebec) has also significantly updated its privacy laws. The compli-
ance and other burdens on our businesses imposed by these privacy laws and regulations may be substantial as we
work to comply with differing legal and implementation requirements across multiple jurisdictions.
Healthcare Regulations
The manufacture, sale, lease, and service of medical diagnostic and surgical devices intended for commercial use are
subject to extensive governmental regulation by the Food and Drug Administration (“FDA”) in the U.S. and by a variety
of regulatory agencies in other countries for some of our businesses. Under the Federal Food, Drug, and Cosmetic Act,
known as the FD&C Act, manufacturers of medical products and devices must comply with certain regulations gov-
erning the design, testing, manufacturing, packaging, servicing, and marketing of medical products. FDA product
approvals may be withdrawn or suspended if compliance with regulatory standards is not maintained or if problems
occur following initial marketing. We are also subject to a variety of federal, state, and foreign laws which broadly
relate to our interactions with healthcare practitioners and other participants in the healthcare system, including,
among others, anti-kickback law, and laws regulating the confidentiality of sensitive personal information and the
circumstances under which such information may be released and/or collected, such as the Health Insurance
Portability and Accountability Act of 1996, or HIPAA, the Health Information Technology for Economic and Clinical
Health Act, or HITECH Act, and the GDPR.
Anti-Corruption and Anti-Bribery Laws and Regulations
We are subject to the U.S. Foreign Corrupt Practices Act (FCPA) and anti-corruption laws, and similar laws in foreign
countries, such as the UK Bribery Act. Any violation of these laws by us or our agents or distributors could create
substantial liability for us, subject our officers and directors to personal liability, and cause a loss of reputation in the
market. Increased business in higher risk countries could subject us and our officers and directors to increased scrutiny
and increased liability. In addition, becoming familiar with and implementing the infrastructure necessary to comply
with laws, rules, and regulations applicable to new business activities and mitigating and protecting against corruption
risks could be quite costly.
Export Controls and Trade Policies
We are subject to numerous domestic and foreign regulations relating to our operations worldwide. In particular, our
sales activities must comply with restrictions relating to the export of controlled technology and sales to denied or
sanctioned parties contained in the U.S. Export Administration Regulations, U.S. International Traffic in Arms
Regulations (ITAR), and sanctions administered by the Office of Foreign Assets Control of the U.S. Department of the
Treasury (OFAC). Our businesses may also be impacted by additional domestic or foreign trade regulations, including
trade restrictions, trade agreements, tariffs (including new, expanded, or retaliatory tariffs), and sanctions.
Environmental Regulations
Our operations and properties are subject to laws and regulations relating to environmental protection, including
those governing air emissions, water discharges, waste management, and workplace safety. We use, generate, and
dispose of hazardous substances and waste in our operations and could be subject to material liabilities relating to
the investigation and clean-up of contaminated properties and related claims. We are required to conform our oper-
ations and properties to these laws and adapt to regulatory requirements in all countries as these requirements
change. In connection with our acquisitions, we may assume significant environmental liabilities, some of which we
may not be aware of, or may not be quantifiable, at the time of acquisition. In addition, new laws and regulations, the
discovery of previously unknown contamination, or the imposition of new requirements could increase our costs or
subject us to new or increased liabilities.
CUSTOMERS
During 2024, no customer accounted for 10% or more of any segment or total Company net revenues.
COMPETITION
Generally, our products and solutions face significant competition, although in certain niche markets there are a limited
number of competitors. We believe that we are a leader in most of our markets, and no single company competes with
us over a significant number of product lines. Competitors might be large or small in size, often depending on the size
of the niche market we serve. We compete primarily on product quality, performance, innovation, technology, price,
applications expertise, system and service flexibility, distribution channel access, and customer service capabilities.

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INTELLECTUAL PROPERTY
In addition to trade secrets, including unpatented know-how and other intellectual property like software source
code, we own or license the rights under numerous patents, trademarks, trade dress, and copyrights relating to cer-
tain of our products and businesses. We also employ various methods, including confidentiality and non-disclosure
agreements with individuals and companies we do business with, including employees, distributors, representatives,
independent contractors, and customers to protect our intellectual property. We believe none of our operating units
are substantially dependent on any single item of intellectual property, including a trade secret, patent, trademark,
trade dress, or copyright.
HUMAN CAPITAL MANAGEMENT
Roper is a diversified technology company that utilizes a decentralized operating model across our many businesses
which serve a diverse set of end markets. Subject to oversight and guidance from Roper executive management,
each business operates as an individual unit with its managers empowered to make day-to-day operating decisions,
including decisions with respect to human capital management. As a result, apart from guidance with respect to:
(i) compliance with legal and regulatory requirements or corporate policies; and (ii) the implementation of business
unit leadership compensation and benefit programs provided by corporate management, managers at individual
businesses are the primary decision makers with respect to human capital management and development. Though
our individual businesses are primarily responsible for these decisions, because of the importance of human capital to
our enterprise, we provide guidance and share best practices on key aspects of selection, development, engagement,
and diversity of talent within our workforce.
ɰɁǹAǉƺǉȴƹǉɨԝјіӗїѕїљӗʥǉǉȴɥȢɁʰǉǁƃɥɥɨɁʯȈȴƃɽǉȢʰіѝӗїѕѕɥǉɁɥȢǉʥɁɨȢǁʥȈǁǉɁȶƃƺɁȶɰɁȢȈǁƃɽǉǁƹƃɰȈɰӗɁǹʥȃȈƺȃ
approximately 12,100 were employed in the U.S. and approximately 6,100 were employed outside of the U.S.
Management believes that the Company’s employee relations are favorable.
Outside of the U.S., we have some employees, particularly in Europe, that are represented by an employee represen-
tative organization, such as a union, works council, or employee association.
Roper has identified and implemented other human capital priorities, including providing competitive wages and
benefits, and promoting a diverse and inclusive work environment. The Company is committed to increasing diversity
and fostering an inclusive work environment that supports our large global workforce and helps us innovate for our
customers. We continue to focus on building a pipeline for talent that creates more opportunities for growth within
the Company.
AVAILABLE INFORMATION
All reports we file electronically with the SEC, including our annual reports on Form 10-K, quarterly reports on Form
іѕӸĂӗƺʍɨɨǉȶɽɨǉɥɁɨɽɰɁȶyɁɨȴѝӸ¶ӗƃȶǁɁʍɨƃȶȶʍƃȢɥɨɁʯʰɰɽƃɽǉȴǉȶɽɰӗƃɰʥǉȢȢƃɰƃȶʰƃȴǉȶǁȴǉȶɽɰɽɁɽȃɁɰǉɨǉɥɁɨɽɰӗƃɨǉ
accessible at no cost on our website at www.ropertech.com as soon as reasonably practicable after we electronically
ǹȈȢǉɰʍƺȃȴƃɽǉɨȈƃȢʥȈɽȃӗɁɨǹʍɨȶȈɰȃȈɽɽɁӗɽȃǉČK:ӝԝěȃǉɰǉǹȈȢȈȶǼɰƃɨǉƃȢɰɁƃƺƺǉɰɰȈƹȢǉɁȶɽȃǉČK:ԇɰʥǉƹɰȈɽǉƃɽʥʥʥӝɰǉƺӝǼɁʤӝ
Our Corporate Governance Guidelines; the charters of our Audit Committee, Compensation Committee, and
Nominating and Governance Committee; and our Code of Ethics (the “Code of Ethics”) are also available on our web-
ɰȈɽǉӝԝȶʰƃȴǉȶǁȴǉȶɽɽɁɽȃǉ:ɁǁǉɁǹKɽȃȈƺɰƃȶǁƃȶʰʥƃȈʤǉɨƃɥɥȢȈƺƃƹȢǉɽɁɁʍɨǁȈɨǉƺɽɁɨɰӗǉʯǉƺʍɽȈʤǉɁǹǹȈƺǉɨɰӗɁɨɰǉȶȈɁɨ
ǹȈȶƃȶƺȈƃȢɁǹǹȈƺǉɨɰʥȈȢȢƹǉɥɁɰɽǉǁɁȶɁʍɨʥǉƹɰȈɽǉʥȈɽȃȈȶɽȃǉɽȈȴǉɥǉɨȈɁǁɨǉɧʍȈɨǉǁƹʰɽȃǉČK:ƃȶǁÇƃɰǁƃɧӝԝěȃǉȈȶǹɁɨȴƃ-
tion posted on our website is not incorporated into this Annual Report or any other filing made by Roper with the SEC.
ITEM 1A | RISK FACTORS
RISKS RELATED TO OUR BUSINESS OPERATIONS
Our growth strategy includes acquisitions. We may not be able to identify suitable acquisition candidates,
complete acquisitions, or integrate acquisitions successfully.
Our future rate of growth is highly dependent on our ability to acquire and successfully integrate new businesses. We
intend to seek additional acquisition opportunities, both to expand into new markets and to enhance our position in
existing markets. There are no assurances, however, that we will be able to successfully identify suitable candidates,
negotiate appropriate terms, obtain financing on acceptable terms, complete proposed acquisitions, receive the nec-
essary regulatory approvals (including clearance under the Hart-Scott-Rodino Act in the U.S. and similar antitrust reg-
ulations in foreign countries), successfully integrate acquired businesses, or expand into new markets. Once acquired,
operations may not achieve anticipated levels of revenues, profitability, or cash flows.
Acquisitions involve risks, including difficulties in the integration of the operations, technologies, services, and products
of the acquired companies and the diversion of management’s attention from other business concerns. Although our
management will endeavor to evaluate the risks inherent in any particular transaction, including but not limited to

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cybersecurity risks, there are no assurances that we will properly ascertain all such risks. Acquisitions may involve signif-
icant cash expenditures, debt incurrences, equity issuances, and expenses. Difficulties encountered with acquisitions
may have a material adverse effect on our business, financial condition, and results of operations.
Our technology is important to our success, and our failure to protect this technology could put us at a
competitive disadvantage.
Many of our products and services rely on proprietary technology; therefore, we believe that the development and
protection of intellectual property rights through patents, copyrights, trade secrets, trademarks, confidentiality agree-
ments, and other contractual provisions are important to the future success of our business. Despite our efforts to
protect proprietary rights, unauthorized parties or competitors may copy or otherwise obtain and use our products or
technology. Actions to enforce these rights may result in substantial costs and diversion of resources, and we make no
assurances that any such actions will be successful.
We rely on information and technology, including third-party cloud computing platforms and other third-party
business partners, for many of our business operations which could fail and cause disruption to our business
operations.
Our business operations are dependent upon information technology networks and systems to securely transmit, pro-
cess, and store information and to communicate among our locations around the world and with clients, suppliers, and
business partners. A shutdown of, or inability to access, one or more of our facilities, a power outage, or a failure of one
or more of our information technology, telecommunications, or other systems could significantly impair our ability to
perform such functions on a timely basis. Our compliance, cyber and data privacy programs, cybersecurity technology,
and risk management cannot eliminate all system risk. Cybersecurity incidents, ransomware attacks, systems disrup-
tions or interruptions, cyberattacks, configuration or human error, insider threat, and/or other external hazards or threats
could result in the misappropriation of assets or information, corruption of data, or disruptions in our business strategy,
results of operations, and financial condition. These disruptions may include, but are not limited to, interruptions to
business operations, loss of intellectual property, release of confidential information, malicious alteration or corruption
of data or systems, costs related to remediation or the payment of ransom, litigation including individual claims or con-
sumer class actions, commercial litigation, administrative, and civil or criminal investigations or actions, regulatory inter-
vention and sanctions or fines, investigation and remediation costs, and possible prolonged negative publicity.
We rely on business partners such as third-party data centers and cloud platforms, such as Amazon Web Services,
Google Cloud Platform, and Microsoft Azure to host certain enterprise and customer systems. Our ability to monitor
such third parties’ security measures and the full impact of the systemic risk is limited. If any third-party system or
cloud platform that we use is unavailable to us for any reason, our customers may experience service interruptions,
which could significantly impact our operations, reputation, business, and financial results. Failure of our systems or
those of our third-party service providers, may result in interruptions in our service and loss of data or processing capa-
bilities, all of which may cause a loss in customers, refunds of product fees, and/or material harm to our reputation
and operating results. While certain of our businesses have experienced temporary disruptions, their impact has been
limited and did not have a significant impact on our businesses.
Global cybersecurity threats are rapidly evolving and attacks to networks, platforms, systems, and endpoints can range
from uncoordinated individual attempts to sophisticated and targeted measures known as advanced persistent threats,
directed at the Company, its businesses, its customers, and/or its third-party service providers, including, but not limited
to, cloud providers and providers of network management services. These may include such things as unauthorized
access, phishing attacks, denial of service, insider threats, data exfiltration and extortion, introduction of malware or ran-
somware, and other disruptive problems caused by threat actors. While we have experienced and expect to continue to
experience these types of cybersecurity threats and incidents, none of them to date have been material to the Company.
We seek to deploy measures to protect, detect, respond, and recover from cybersecurity threats and incidents, includ-
ing identity and access controls, employee training, data protection, vulnerability management, incident response,
secure product development, continuous monitoring of our networks, platforms, endpoints, and systems, and mainte-
nance of ransomware resilient backup and recovery capabilities. Our customers are increasingly requiring cybersecurity
protections and mandating cybersecurity standards in our products and services, and we may incur additional costs to
comply with such demands. Despite these efforts, we can make no assurances that we will be able to mitigate, detect,
prevent, timely and adequately respond, or fully recover from the negative effects of cyberattacks, cybersecurity inci-
dents, or other security compromises, and such attacks, compromises, or cybersecurity incidents, depending on their
nature and scope, could potentially result in the misappropriation, destruction, corruption, or unavailability of critical
data and confidential or proprietary information (our own or that of third parties) and the disruption of business opera-
tions. The potential consequences of a material cybersecurity incident include financial loss, reputational damage,
damage to our IT systems, data loss, litigation with third parties, theft of intellectual property, fines, customer attrition,
diminution in the value of our investment in research and development, and increased cybersecurity protection and
remediation costs due to the increasing sophistication and proliferation of threats, which in turn could adversely affect
our competitiveness and results of operations. Any imposition of liability, particularly liability that is not covered by
insurance or is in excess of insurance coverage, could materially harm our operating results and financial condition.

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Product liability, insurance risks, product recalls, and increased insurance costs could harm our operating
results.
Our business exposes us to product liability risks in the design, manufacture, and distribution of our products.
Manufacturing or design defects could lead to recalls or safety alerts relating to our products (either voluntary or as
required by regulatory authorities), and could result, in certain cases, in the removal of a product from the market
which could result in significant costs, lost sales and customers, enforcement actions and/or investigations, as well as
negative publicity and damage to our reputation. Personal injuries relating to the use of our products can also result
in product liability claims being brought against us. We currently have product liability insurance; however, we may
not be able to maintain our insurance at a reasonable cost or in amounts sufficient to adequately protect us against
losses. We also maintain other insurance policies, including directors’ and officers’ liability insurance and cybersecurity
insurance. We believe we have adequately accrued estimated losses, principally related to deductible amounts under
our insurance policies, with respect to all product liability and other claims, based upon our past experience and avail-
able facts. However, a successful product liability or other claim or series of claims brought against us could have a
material adverse effect on our business, financial condition, and results of operations. In addition, a significant increase
in our insurance costs or the imposition of a liability that is not covered by insurance or is in excess of insurance cover-
age, could have an adverse impact on our operating results.
Our operating results could be adversely affected by a reduction in business with our large customers.
In some of our businesses, we derive a significant amount of revenue from large customers. The loss or reduction of
any significant contracts with any of these customers could reduce our net revenues and cash flows. Additionally,
many of our customers are government entities. In many situations, government entities can unilaterally terminate or
modify our existing contracts without cause and without penalty to the government agency.
Unfavorable changes in foreign exchange rates may harm our business.
Several of our subsidiaries have transactions and balances denominated in currencies other than the U.S. dollar. Most
of these transactions and balances are denominated in British pounds, Canadian dollars, or euros. Sales by our oper-
ating companies whose functional currency is not the U.S. dollar represented 9% and 11% of our total net revenues for
ɽȃǉʰǉƃɨɰǉȶǁǉǁAǉƺǉȴƹǉɨԝјіӗїѕїљƃȶǁїѕїјӗɨǉɰɥǉƺɽȈʤǉȢʰӝĩȶǹƃʤɁɨƃƹȢǉƺȃƃȶǼǉɰȈȶǉʯƺȃƃȶǼǉɨƃɽǉɰƹǉɽʥǉǉȶɽȃǉĩӝČӝ
dollar and those currencies could reduce our reported net revenues and net earnings.
We face intense competition. If we do not compete effectively, our business may suffer.
We face intense competition from numerous competitors in our various businesses. Our products compete primarily
on the basis of product quality, performance, innovation, technology, price, applications expertise, system and service
flexibility, distribution channel access, and established customer service capabilities. We may not be able to compete
effectively on all of these fronts or with all of our competitors. Moreover, competition may require us to adjust prices
to stay competitive. In addition, new competitors may emerge, and product lines may be threatened by new technol-
ogies or market trends that reduce the value of these product lines. To remain competitive, we must develop new
products, respond to new technologies, and enhance our existing products in a timely manner.
Our indebtedness may affect our business and may restrict our operating flexibility.
ɰɁǹAǉƺǉȴƹǉɨԝјіӗїѕїљӗʥǉȃƃǁԤќӗћїјӝѕȈȶɽɁɽƃȢƺɁȶɰɁȢȈǁƃɽǉǁȈȶǁǉƹɽǉǁȶǉɰɰӝȶƃǁǁȈɽȈɁȶӗʥǉȃƃǁƃɥɥɨɁʯȈȴƃɽǉȢʰ
$3,369 of undrawn availability under our unsecured revolving credit facility. Subject to restrictions contained in our
credit facility, we may incur additional indebtedness in the future, including indebtedness incurred to finance
acquisitions.
Our level of indebtedness and the debt servicing costs associated with that indebtedness could have substantial
effects on our operations and business strategy. For example, our indebtedness could:
• limit our ability to borrow additional funds;
• limit our ability to complete future acquisitions;
• limit our ability to pay dividends;
• limit our ability to make capital expenditures;
• place us at a competitive disadvantage relative to our competitors, some of which have lower debt service
obligations and greater financial resources; and
• increase our vulnerability to general adverse economic and industry conditions.
Our ability to make scheduled principal payments of, to pay interest on, or to refinance our indebtedness and to sat-
isfy our other debt obligations will depend upon our future operating performance, which may be affected by factors
beyond our control. In addition, there can be no assurance that future borrowings or equity financing will be available
to us on favorable terms for the payment or refinancing of our indebtedness. If we are unable to service our indebted-
ness, our business, financial condition, and results of operations would be materially adversely affected.

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Our credit facility contains covenants requiring us to achieve certain financial and operating results and maintain
compliance with a specified financial ratio. Our ability to meet the financial covenants or requirements in our credit
facility may be affected by events beyond our control, and we may not be able to satisfy such covenants and require-
ments. A breach of these covenants or our inability to comply with the financial ratio, tests, or other restrictions con-
tained in our credit facility could result in an event of default under this facility. Upon the occurrence of an event of
default under our credit facility, and the expiration of any grace periods, the lenders could elect to declare all amounts
outstanding under the facility, together with accrued interest, to be immediately due and payable. If this were to
occur, our assets may not be sufficient to fully repay the amounts due under this facility or our other indebtedness.
Our goodwill and other intangible assets are a significant amount of our total assets, and any write-off of our
intangible assets would negatively affect our results of operations.
Ýʍɨ ɽɁɽƃȢ ƃɰɰǉɽɰ ɨǉǹȢǉƺɽ ɰʍƹɰɽƃȶɽȈƃȢ ȈȶɽƃȶǼȈƹȢǉ ƃɰɰǉɽɰӗ ɥɨȈȴƃɨȈȢʰ ǼɁɁǁʥȈȢȢӝ ɽ Aǉƺǉȴƹǉɨԝ јіӗ їѕїљӗ ǼɁɁǁʥȈȢȢ ɽɁɽƃȢǉǁ
ԤіўӗјіїӝўƺɁȴɥƃɨǉǁɽɁԤіѝӗѝћќӝћɁǹɽɁɽƃȢɰɽɁƺȟȃɁȢǁǉɨɰԇǉɧʍȈɽʰӗƃȶǁɨǉɥɨǉɰǉȶɽǉǁћїՐɁǹɁʍɨɽɁɽƃȢƃɰɰǉɽɰɁǹԤјіӗјјљӝќӝěȃǉ
goodwill results from our acquisitions, representing the excess purchase price over the fair value of the net identifiable
assets acquired. We assess at least annually whether there has been an impairment in the value of our goodwill and
other indefinite-lived intangible assets. If future operating performance at one or more of our business units were to
fall significantly below current or expected levels, if competing or alternative technologies emerge, if discount rates
rise, or if business valuations decline, we could incur a non-cash charge to operating income. Any determination
requiring the write-off of a significant portion of goodwill or unamortized intangible assets would negatively affect
our results of operations, the effect of which could be material.
We depend on our ability to develop new products and software, and any failure to develop or market new
products and software could adversely affect our business.
The future success of our business will depend, in part, on our ability to design and manufacture new competitive
products, including the development of software, and to enhance existing product and software offerings. This prod-
uct development may require substantial internal investment. There can be no assurance that unforeseen problems
will not occur with respect to the development, performance, or market acceptance of new technologies, products,
or software or that we will otherwise be able to successfully develop and market new products and software. Failure
of our product or software offerings to gain market acceptance or our failure to successfully develop and market new
products and software could reduce our margins, which would have an adverse effect on our business, financial con-
dition, and results of operations.
Changes in the supply of, or price for, raw materials, parts and components used in our products, or third-party
services used in the delivery of our SaaS solutions could affect our business.
The availability and prices of raw materials, parts, and components are subject to curtailment or change due to,
among other things, suppliers’ allocations to other purchasers, interruptions in production by suppliers, supply chain
delays and disruptions, component shortages, changes in exchange rates, and prevailing price levels. In addition,
some of our products are provided by sole source suppliers and our SaaS offerings are increasingly reliant on a limited
number of third-party cloud computing platforms. Any change in the supply of, or price for, these parts and compo-
nents, as well as any increases in commodity prices or the price and availability of, or any decrease in the reliability of,
third-party cloud computing platforms could affect our business, financial condition, and results of operations.
Our operating results may be adversely impacted by the performance of Indicor, in which we own a minority
interest.
In 2022, we divested a majority equity stake in our industrial businesses to CD&R and retained a minority equity interest
in the new parent entity, Indicor. Although we have certain limited consent, board representation, and other governance
rights under existing contractual arrangements, we are a minority owner of Indicor and do not control its management,
its policies, or the operation of its business, and have no further funding requirements associated with our investment.
As a result, our ability to realize the ultimate anticipated benefits of the transaction depends upon the operation and
management of Indicor by CD&R and the Indicor management team. In addition, Indicor is an industrial business that
is subject to risks that are different than the risks associated with our existing businesses. Many of these risks are outside
of CD&R’s or Indicor’s control and could materially impact Indicor’s business, financial condition, and results of operations.
Moreover, CD&R may have economic or other business interests that are inconsistent with ours, and we may be unable
to prevent strategic decisions that may adversely affect the value of our investment in Indicor. We have applied the fair
value option to value our equity investment in Indicor. The assessment of fair value requires significant judgments to be
made. Although we believe that our judgments and assumptions are reasonable, changes in estimates or the application
of alternative assumptions could produce significantly different results. In the event of a decrease in fair value, we would
incur a non-cash charge within non-operating income with a corresponding reduction in the balance of our equity
investment. See Note 10 of the Notes to Consolidated Financial Statements included in this Annual Report for additional
information on this equity investment.

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Divestitures or other dispositions could negatively impact our business.
Divestitures pose risks and challenges that could negatively impact our business. For example, when we decide to sell
or otherwise dispose of a business or assets, we may be unable to do so on satisfactory terms within our anticipated
timeframe or at all, and even after reaching a definitive agreement to sell or dispose of a business, the sale is typically
subject to the satisfaction of pre-closing conditions which may not become satisfied. The consummation of any dives-
titure can be difficult, time-consuming, and costly, and we may not be able to successfully complete identified dives-
titures. They may also cause diversion of management time and focus away from operating our business. In addition,
divestitures or other dispositions may have other adverse financial and accounting impacts, and disputes may arise
with buyers or with partners in businesses in which we own a minority interest that could be difficult or costly to
resolve.
We use artificial intelligence in our business, and challenges with properly managing its use could result in
reputational harm, competitive harm, and legal liability, and adversely affect our results of operations.
We are increasingly incorporating artificial intelligence (“AI”) solutions into our platforms, offerings, services, and oper-
ations, and we expect that AI will become more important to our company over time. Our competitors or other third
parties may incorporate AI into their products or operations more quickly or successfully than us, or develop superior
products and services with the aid of AI, which could impair our ability to compete effectively and adversely affect our
results of operations. Additionally, if we use AI that is based on data, algorithms, or other inputs that are flawed, or if
the AI assists in producing content, analyses, or recommendations that are or are alleged to be deficient, inaccurate,
violative of third-party intellectual property, or biased, our business, financial condition, and results of operations may
be adversely affected. The use of AI applications has resulted in, and may in the future result in, cybersecurity inci-
dents that implicate the personal data of end users of such applications. Any such cybersecurity incidents related to
our use of AI applications could adversely affect our reputation and results of operations. AI also presents emerging
ethical issues, and if our use of AI becomes controversial we may experience brand, reputational, or competitive harm,
or legal liability.
We may be affected by laws and regulations that govern the use of AI. For example, the EU AI Act places new require-
ments on providers of AI technologies that will need to be addressed in alignment with various deadlines in the com-
ing years. These and other laws or regulations may cause us to modify our data handling and compliance practices,
which could be costly or disruptive to our operations, and may also impact our ability to use certain data to support
our products or our product development efforts or hinder our customers’ ability to adopt or continue to use our
products.
RISKS RELATED TO GOVERNMENT REGULATIONS
Regulation of privacy and data security may adversely affect sales of our products and services and result in
increased compliance costs.
There has been, and likely will continue to be, increased regulation with respect to the collection, use, and handling of
an individual’s personal and financial information. Regulatory authorities around the world have passed or are consid-
ering legislative and regulatory proposals concerning data protection, privacy, and data security. In the U.S., at least 20
states have individually passed comprehensive privacy legislation in directly regulating the collection, use, and sharing
of personal information. In addition, there has been an increased focus on industry-specific privacy laws, including in
the financial, healthcare, and educational sectors. These statutes and regulations create civil penalties for violations,
and in the case of California and some sector-specific laws, create a limited private right of action for data breaches
that increase the risk of data breach litigation. Absent a preemptive Federal privacy law, as more states pass privacy
legislation, there is a strong possibility that we will be required to comply with a patchwork of inconsistent privacy
regulations.
Globally, personal information collected within the European Union and United Kingdom remains subject to the
GDPR, which is a UK and European Union-wide legal framework that governs data collection, use, and sharing of an
individual’s personal data and creates a range of consumer privacy rights. GDPR provides significant penalties for
non-compliance (up to 4% of global annual revenue) and EU data protection authorities have already issued signifi-
cant fines. Canada (Quebec) has also significantly updated its privacy laws.
The interpretation and application of consumer and data protection laws and industry standards in the U.S., Europe,
and elsewhere can be uncertain and currently is in flux. Cloud-based solutions may be subject to further regulation,
including data localization requirements and other restrictions limiting the international transfer of data. The opera-
tional and cost impact of these cannot be fully known at this time. In addition to the possibility of fines, the applica-
tion of these existing laws in a manner inconsistent with our current data and privacy practices requires that we
change our data and privacy practices, which could have an adverse effect on our business and results of operations.
Complying with these various laws could cause us to incur substantial costs or require us to change our business prac-
tices in a manner adverse to our business. Also, any new law or regulation imposing greater fees or taxes or restriction
on the collection, use, or transfer of information or data internationally or over the Internet, could result in a decline in

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the use of our products and services and adversely affect our sales and results of operations. Finally, as we increasingly
provide technological solutions, our customers and regulators will expect that we can demonstrate compliance with
current data privacy and security regulations as well as new industry-developed standards, and our inability to do so
may adversely impact sales of our solutions and services to certain customers. This is particularly true for customers in
highly-regulated industries, such as the healthcare industry and government contractors, and could result in regula-
tory actions, fines, and legal proceedings as well as negative impacts to our brand, reputation, and business.
Expectations relating to sustainability considerations expose the Company to potential liabilities, increased
costs, reputational harm, and other adverse effects on the Company’s business.
Many governments, regulators, investors, employees, customers, and other stakeholders are focused on environmental,
social, governance, and other sustainability considerations relating to businesses, including climate change and green-
house gas emissions, human capital, and diversity. The Company makes statements about sustainability goals and initia-
tives through information provided on its website, press statements, and other communications, including through its
annual sustainability report. Responding to these sustainability considerations and implementation of these goals and
initiatives involves risks and uncertainties, including those described under “Information About Forward-Looking
Statements,” requires investments, and is impacted by factors that may be outside of the Company’s control. In addition,
some stakeholders may disagree with the Company’s goals and initiatives and the focus of stakeholders may change and
evolve over time. Stakeholders also may have very different views on where focus on sustainability topics should be
placed, including differing views of regulators in various jurisdictions in which we operate. Any failure, or perceived failure,
by the Company to achieve its goals, further its initiatives, adhere to its public statements, comply with federal, state, or
international sustainability laws and regulations, or meet evolving and varied stakeholder expectations and standards
could result in legal and regulatory proceedings against the Company and materially adversely affect the Company’s
business, reputation, results of operations, financial condition, and stock price.
RISKS RELATED TO ECONOMIC AND POLITICAL CONDITIONS
Economic, political, and other risks associated with our international operations could adversely affect our
business.
yɁɨɽȃǉʰǉƃɨǉȶǁǉǁAǉƺǉȴƹǉɨԝјіӗїѕїљӗіљՐɁǹɁʍɨȶǉɽɨǉʤǉȶʍǉɰʥǉɨǉǼǉȶǉɨƃɽǉǁǹɨɁȴƺʍɰɽɁȴǉɨɰɁʍɽɰȈǁǉɁǹɽȃǉĩӝČӝ
and 7% of our long-lived assets, excluding goodwill and other intangibles, were attributable to operations outside of
the U.S. We expect our international operations to contribute materially to our business for the foreseeable future. Our
international operations are subject to varying degrees of risk inherent in doing business outside of the U.S. including,
without limitation, the following:
• adverse changes in a specific country’s or region’s political or economic conditions, particularly in emerging
markets;
• oil price volatility;
• trade protection measures, tariffs, and import or export requirements, including uncertainty about what actions
may be taken by governments with respect to tariffs or trade relations, what products may be subject to such
actions, and what actions may be taken by foreign countries in retaliation to proposed or imposed U.S. tariffs;
• subsidies or increased access to capital for firms that are currently, or may emerge as, competitors in countries
in which we have operations;
• partial or total expropriation;
• potentially negative consequences from changes in tax laws;
• difficulty in staffing and managing widespread operations;
• differing labor regulations;
• differing protection of intellectual property; and
• differing and unexpected changes in regulatory requirements, including any measures implemented to address
data privacy, cybersecurity, and impacts of climate change.
Any business disruptions due to political instability, armed hostilities, incidents of terrorism, incidents of directed
cyberattacks, public health crises, or extreme weather events or other natural disasters could adversely impact
our financial performance.
If terrorist activity, armed conflict, directed cyberattacks, political instability, public health crises, such as epidemics or
pandemics, or extreme weather events or other natural disasters occur in the U.S. or other locations, such events may
negatively impact our operations, cause general economic conditions to deteriorate, or cause demand for our prod-
ucts to decline. A prolonged economic slowdown or recession could reduce the demand for our products, and there-
fore, negatively affect our future sales and profits. Any of these events could have a significant impact on our business,
financial condition, or results of operations.

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Political and geopolitical conditions can adversely affect our business.
Political and geopolitical conditions in the markets in which our products and services are sold have been and could
continue to be difficult to predict, resulting in adverse effects on our business. The results of elections, geopolitical
events and tensions, and wars and other military conflicts (such as the ongoing conflicts in Ukraine and the Middle
East) in these markets have in the past impacted and could continue to impact how existing laws, regulations and
government programs or policies are implemented or result in uncertainty as to how such laws, regulations, programs
or policies may change, including with respect to the negotiation of new trade agreements, new, expanded or retal-
iatory tariffs against certain countries or covering certain products or materials (including recent U.S. tariffs imposed
or threatened to be imposed on China, Canada, Mexico, and other countries and any retaliatory actions taken by such
countries). Changes in political administrations in the U.S. and elsewhere may lead to variability in, or reallocation of,
government spending priorities, or a reduction in government spend, which could have an adverse impact on our
businesses that serve governmental entities or governmental contractors. In addition, certain geopolitical events have
resulted in and could continue to result in, among other things, cyberattacks, supply disruptions, lower consumer
demand, increase in global economic uncertainty, and changes to foreign exchange rates and financial markets, any
of which may adversely affect our business and supply chain.
GENERAL RISK FACTORS
The potential insolvency or financial distress of third parties could adversely impact our business and results of
operations.
We are exposed to the risk that third parties to various arrangements who owe us money or goods and services, or
who purchase goods and services from us, will not be able to perform their obligations or continue to place orders
due to insolvency or financial distress. If third parties fail to perform their obligations under arrangements with us, we
may be forced to replace the underlying commitments at current or above-market prices or on other terms that are
less favorable to us. In such events, we may incur losses, or our results of operations, financial condition, or liquidity
could otherwise be adversely affected.
Changes to our executive leadership team and any future loss of members of such team, and the resulting
management transitions, could harm our operating results.
We have experienced significant changes to our executive leadership team in the past and may do so in the future.
Leadership transitions and changes can be inherently difficult to manage and may cause uncertainty or disruption to
our business or may increase the likelihood of turnover in key leadership positions. If we cannot effectively manage
leadership transitions and changes, it could make it more difficult to successfully operate our business.
Legal proceedings to which we are, or may be, a party may adversely affect us.
We are currently, and may in the future become, subject to legal proceedings and commercial or contractual dis-
putes. These are typically claims that arise in the normal course of business including, without limitation, commercial
or contractual disputes with our suppliers or customers, intellectual property matters, data privacy matters, third
party liability, including product liability claims, and employment claims.
A downgrade in the ratings of our debt could restrict our ability to access the debt capital markets and increase
our interest costs.
Unfavorable changes in the ratings that rating agencies assign to our debt may ultimately negatively impact our
access to the debt capital markets and increase the costs we incur to borrow funds. Additionally, our credit agree-
ment includes increases in interest rates if the ratings for our debt are downgraded. Furthermore, an increase in the
level of our indebtedness may increase our vulnerability to adverse general economic and industry conditions and
may affect our ability to obtain additional financing.
ITEM 1B | UNRESOLVED STAFF COMMENTS
None.

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ITEM 1C | CYBERSECURITY
Roper’s Cybersecurity Program
Roper maintains a global Cybersecurity Program supervised by the Vice President of Cybersecurity that outlines
required cybersecurity controls for all Roper businesses. Given the decentralized nature of Roper’s operating model,
day-to-day management and implementation of the Cybersecurity Program and deployment of the program’s cyber-
ɰǉƺʍɨȈɽʰƺɁȶɽɨɁȢɰƃɨǉȴƃȶƃǼǉǁȢɁƺƃȢȢʰƹʰǉƃƺȃɁǹĄɁɥǉɨԇɰїѝƹʍɰȈȶǉɰɰʍȶȈɽɰӗȈȶƺȢʍǁȈȶǼȢɁƺƃȢȈ˃ǉǁȈȶǹɁɨȴƃɽȈɁȶɰǉƺʍɨȈɽʰ
management. In addition, because Roper’s businesses generally operate independently and maintain separate infra-
structure and systems, we believe the risk of an enterprise-wide cybersecurity incident is somewhat reduced. While
cybersecurity technologies and implementation may differ based on the needs and risk profile of each individual
business, Roper has also implemented cybersecurity tools and managed services to centrally monitor certain aspects
of the Cybersecurity Program.
Roper deploys cybersecurity practices and tools across all of its businesses designed to protect data, maintain resilient
operations, and limit the impact of cybercrime. We deploy a Managed Detection and Response solution across all of
our business units and our Corporate infrastructure designed to address the detection, response, and remediation
effectiveness for cybersecurity threats. This solution is intended to provide real-time visibility of the endpoint footprint
across the enterprise, including patch management and vulnerabilities, device encryption, and cybersecurity threats
and detections. Additionally, this solution is designed to provide real-time monitoring of identity-based attacks, as
well as monitoring of the deep, dark and social webs for cybersecurity threats targeting Roper’s businesses.
The Cybersecurity Program includes controls designed to oversee and identify risks from cybersecurity threats associ-
ated with third parties as they are leveraged by Roper’s businesses in their respective software code development
processes or for other purposes that require third-party access to critical infrastructure. The controls include, as appro-
priate, regularly assessing management of access controls and the cybersecurity risks posed by third parties.
Roper performs cybersecurity risk assessments to assess compliance with mandated cybersecurity controls and to
assess the likelihood and impact of specific cyberattacks. Cybersecurity risk assessments are periodically performed
to assess internal compliance with cybersecurity strategy and the implementation of cybersecurity controls, which
would include the validation of cybersecurity control implementation through testing. Areas identified for enhance-
ment and improvement are monitored and tracked to remediation by the Roper cybersecurity team, including the
Vice President of Cybersecurity. Cybersecurity risk is also addressed in, and monitored by, the Company’s enterprise
risk management program.
We maintain a centralized incident response process with a third-party forensic partner on retainer. In addition, we
have cybersecurity insurance policies in place. Roper maintains a Cybersecurity Incident Response Plan (“CSIRP”),
which requires each Roper business to designate a Cybersecurity Incident Response Team that is responsible for
receiving, reviewing, and responding to cybersecurity incident reports and activities. Cybersecurity incidents are
required to be promptly reported to the Roper cybersecurity team, who then monitors such incidents through their
resolution. We work on security awareness with our employees throughout the year with annual cybersecurity train-
ing and monthly simulated phishing campaigns to better identify and report unusual behavior and to mitigate the
likelihood and impact of possible cybersecurity incidents.
Cybersecurity Governance
The Cybersecurity Program is supervised by Roper’s Vice President of Cybersecurity, who has related experience
including cybersecurity, IT, Cloud, and Security Compliance. The Vice President of Cybersecurity has obtained a B.S. in
Management Information Systems, a Master’s in Business Administration, and a Master’s in Management Information
Systems. She also maintains the following industry cybersecurity certifications: CISA, CISSP, GSEC, GCED, GSA, and a
Boardroom Certified Qualified Technology Expert (QTE).
Our Board of Directors (the “Board”) has not delegated responsibility for cybersecurity matters to a committee. Rather,
the Board believes that due to the importance and continually evolving nature of risks from cybersecurity threats, all
members of the Board should participate in the oversight of these topics. As a result, management briefs the Board
on cybersecurity matters during regularly scheduled Board meetings. Roper’s Vice President of Audit Services also
periodically briefs the Audit Committee on cybersecurity matters and related risks, as needed. The Vice President of
Audit Services also reports to the Audit Committee on matters, including cybersecurity matters, that are addressed
and monitored pursuant to the Company’s enterprise risk management program.
Roper has also established a Cyber Disclosure Committee chaired by the Vice President of Cybersecurity to track and
evaluate potentially material cybersecurity incidents and to assess their potential impact on the organization. This
process builds upon the CSIRP and provides a framework for Roper management to monitor potentially material
cybersecurity incidents. The Cyber Disclosure Committee reports its activities and findings, as appropriate, to the
Chief Executive Officer, Chief Financial Officer, Principal Accounting Officer, and General Counsel, and, if appropriate,
to the Board of Directors.

ĄÝĀKĄěK:ÇÝ¸Ý{KČӓ2024 ANNUAL REPORT
22
Although we have experienced cybersecurity incidents, these incidents have not materially affected Roper, including
its business strategy, results of operations, or financial condition. See “Item 1A. Risk Factors, We rely on information and
technology, including third-party cloud computing platforms and other third-party business partners, for many of our
business operations which could fail and cause disruption to our business operations.” above for more information.
While we work to maintain our Cybersecurity Program, there can be no assurance that such actions will be sufficient
to prevent cybersecurity incidents or mitigate all risks from cybersecurity threats or potential risks to such systems,
networks, and data or those of our third-party providers.
ITEM 2 | PROPERTIES
Our corporate offices, consisting of 42,000 square feet of leased space, are located at 6496 University Parkway,
ČƃɨƃɰɁɽƃӗyȢɁɨȈǁƃӝԝɰɁǹAǉƺǉȴƹǉɨԝјіӗїѕїљӗʥǉȢǉƃɰǉǁǹƃƺȈȢȈɽȈǉɰɽȃɨɁʍǼȃɁʍɽɽȃǉĩȶȈɽǉǁČɽƃɽǉɰƃȶǁȈȶʤƃɨȈɁʍɰȢɁƺƃɽȈɁȶɰ
internationally including North America, Europe, and Asia-Pacific. Additionally, we owned two properties in the United
ČɽƃɽǉɰƃɰɁǹAǉƺǉȴƹǉɨԝјіӗїѕїљӝŚǉƺɁȶɰȈǁǉɨɁʍɨǹƃƺȈȢȈɽȈǉɰɽɁƹǉȈȶǼɁɁǁɁɥǉɨƃɽȈȶǼƺɁȶǁȈɽȈɁȶƃȶǁƃǁǉɧʍƃɽǉǹɁɨɽȃǉȈɨ
present use and believe we have sufficient capacity to meet our anticipated operating requirements.
ITEM 3 | LEGAL PROCEEDINGS
Information pertaining to legal proceedings can be found in Note 13 to the Consolidated Financial Statements
included in this Annual Report, and is incorporated by reference herein.
ITEM 4 | MINE SAFETY DISCLOSURES
Not applicable.
EXECUTIVE OFFICERS OF THE REGISTRANT
Pursuant to General Instruction G(3) of Form 10-K, the following list of executive officers of the Company as of
yǉƹɨʍƃɨʰԝїљӗїѕїњȈɰȈȶƺȢʍǁǉǁƃɰƃȶʍȶȶʍȴƹǉɨǉǁɽǉȴȈȶĀƃɨɽɁǹɽȃȈɰɨǉɥɁɨɽȈȶȢȈǉʍɁǹƹǉȈȶǼȈȶƺȢʍǁǉǁȈȶɽȃǉ:Ɂȴɥƃȶʰԇɰ
Proxy Statement relating to the 2025 Annual Meeting of Shareholders.
L. Neil HunnӗњїӗȃƃɰɰǉɨʤǉǁƃɰĀɨǉɰȈǁǉȶɽƃȶǁ:ȃȈǉǹKʯǉƺʍɽȈʤǉÝǹǹȈƺǉɨɰȈȶƺǉʍǼʍɰɽїѕіѝӝǉɥɨǉʤȈɁʍɰȢʰɰǉɨʤǉǁƃɰ
KʯǉƺʍɽȈʤǉřȈƺǉĀɨǉɰȈǁǉȶɽƃȶǁ:ȃȈǉǹÝɥǉɨƃɽȈȶǼÝǹǹȈƺǉɨǹɨɁȴїѕіќɽɁїѕіѝӝÃɨӝʍȶȶƃȢɰɁɰǉɨʤǉǁƃɰ{ɨɁʍɥřȈƺǉĀɨǉɰȈǁǉȶɽ
ɁǹĄɁɥǉɨԇɰȴǉǁȈƺƃȢɰǉǼȴǉȶɽǹɨɁȴїѕііɽɁїѕіѝƃȶǁȃǉȢɥǉǁǁɨȈʤǉɰȈǼȶȈǹȈƺƃȶɽǼɨɁʥɽȃȈȶɽȃǉ:ɁȴɥƃȶʰԇɰȴǉǁȈƺƃȢɽǉƺȃȶɁȢ-
ogy and application software businesses. In addition to his operating responsibilities at Roper, Mr. Hunn led the exe-
cution of the majority of the Company’s capital deployment since joining Roper. Prior to joining Roper, Mr. Hunn
served 10 years as Executive Vice President and Chief Financial Officer at MedAssets, Inc., an Atlanta-based SaaS com-
pany, and as President of its revenue cycle technology businesses. He successfully led MedAssets’ initial public offer-
ing and the execution of several M&A transactions. Mr. Hunn also held roles at CMGI, an incubator of Internet
businesses, and Parthenon Group, a strategy consulting firm. Mr. Hunn has been a director of Deere & Company, a
global leader in the delivery of agricultural, construction, and forestry equipment, since 2023.
Jason P. Conley, 49, has served as Executive Vice President and Chief Financial Officer since February 2023. Prior
y
thereto, he served as Vice President and Chief Accounting Officer from 2021 to February 2023 and as Vice President
and Controller from 2017 to 2021. He previously served as the Chief Financial Officer at Managed Health Care Associates,
a Roper subsidiary, from 2013 to 2017. He also led the financial planning and investor relations activities for Roper from
2006 to 2013. Before joining Roper, Mr. Conley served in various finance and accounting leadership roles at Honeywell
International and Deloitte.
John K. StipancichӗњћӗȃƃɰɰǉɨʤǉǁƃɰKʯǉƺʍɽȈʤǉřȈƺǉĀɨǉɰȈǁǉȶɽӗ{ǉȶǉɨƃȢ:ɁʍȶɰǉȢƃȶǁ:ɁɨɥɁɨƃɽǉČǉƺɨǉɽƃɨʰɰȈȶƺǉїѕіѝ
ƃȶǁ ƃɰ řȈƺǉ ĀɨǉɰȈǁǉȶɽӗ {ǉȶǉɨƃȢ :ɁʍȶɰǉȢ ƃȶǁ :ɁɨɥɁɨƃɽǉ Čǉƺɨǉɽƃɨʰ ǹɨɁȴ їѕіћ ɽɁ їѕіѝӝ ĀɨȈɁɨ ɽɁ ȚɁȈȶȈȶǼ ĄɁɥǉɨӗ
Mr. Stipancich was with Newell Brands Inc., a consumer products company, from 2004 to May of 2016. At Newell
Brands he served as Executive Vice President and Chief Financial Officer from 2015 to 2016. Prior thereto, he served in
a number of leadership roles at Newell Brands including General Counsel and Corporate Secretary, and Executive
Leader of its operations in Europe, the Middle East, and Africa. Prior to his twelve years at Newell Brands,
Mr. Stipancich served as Executive Vice President, General Counsel and Corporate Secretary for Evenflo Company and
Assistant General Counsel for Borden, both KKR portfolio companies at the time. He started his legal career in the
Cleveland office of the international law firm Squire Patton Boggs. Mr. Stipancich has been a director of Mativ Holdings,
Inc., a global leader in specialty materials, since June 2024.

ĄÝĀKĄěK:ÇÝ¸Ý{KČӓ2024 ANNUAL REPORT
23
PART II
ITEM 5 | MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER
MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
Our common stock trades on Nasdaq under the symbol “ROP.” Based on information available to us and our transfer
ƃǼǉȶɽӗɽȃǉɨǉʥǉɨǉƃɥɥɨɁʯȈȴƃɽǉȢʰћііɨǉƺɁɨǁȃɁȢǁǉɨɰɁǹɁʍɨƺɁȴȴɁȶɰɽɁƺȟƃɰɁǹyǉƹɨʍƃɨʰԝіљӗїѕїњӝ
Dividends—We have declared a cash dividend in each quarter since our February 1992 initial public offering and we
have annually increased our dividend rate since our initial public offering. In November 2024, our Board of Directors
ȈȶƺɨǉƃɰǉǁɽȃǉɧʍƃɨɽǉɨȢʰǁȈʤȈǁǉȶǁɥƃȈǁ°ƃȶʍƃɨʰіќӗїѕїњɽɁԤѕӝѝїњɥǉɨɰȃƃɨǉǹɨɁȴԤѕӝќњɥǉɨɰȃƃɨǉӗƃȶȈȶƺɨǉƃɰǉɁǹіѕՐӝ
This is the thirty-second consecutive year in which the Company has increased its dividend. The timing, declaration,
and payment of future dividends will be at the sole discretion of our Board of Directors and will depend upon our
profitability, cash flows, financial condition, capital needs, future prospects, and other factors deemed relevant by our
Board of Directors.
Performance GraphӴěȃȈɰɥǉɨǹɁɨȴƃȶƺǉǼɨƃɥȃɰȃƃȢȢȶɁɽƹǉǁǉǉȴǉǁԄǹȈȢǉǁԅǹɁɨɥʍɨɥɁɰǉɰɁǹČǉƺɽȈɁȶіѝɁǹɽȃǉČǉƺʍɨȈɽȈǉɰ
Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities under that Section and
shall not be deemed incorporated by reference into any of our filings under the Securities Act of 1933, as amended, or
the Exchange Act.
ěȃǉǹɁȢȢɁʥȈȶǼǼɨƃɥȃƺɁȴɥƃɨǉɰӗǹɁɨɽȃǉǹȈʤǉʰǉƃɨɥǉɨȈɁǁǉȶǁǉǁAǉƺǉȴƹǉɨԝјіӗїѕїљӗɽȃǉƺʍȴʍȢƃɽȈʤǉɽɁɽƃȢɰɽɁƺȟȃɁȢǁǉɨ
return for our common stock, the Standard & Poor’s 500 Stock Index (the “S&P 500”), and the Standard & Poor’s 500
Information Technology Index (the “S&P 500 IT”). Measurement points are the last trading day of each of our fiscal
years ended December 31, 2019, 2020, 2021, 2022, 2023, and 2024. The graph assumes that $100.00 was invested on
December 31, 2019 in our common stock, the S&P 500, and the S&P 500 IT and assumes the reinvestment of any div-
idends. The stock price performance on the following graph is not necessarily indicative of future stock price
performance.
12/31/2019
12/31/2020
12/31/2021
12/31/2022
12/31/2023
12/31/2024
Roper Technologies, Inc.
$100.00
$122.39
$140.35
$124.02
$157.40
$150.92
S&P 500
100.00
ііѝӝљѕ
152.39
124.79
157.59
197.02
S&P 500 IT
100.00
іљјӝѝў
іўјӝњѝ
139.00
219.40
299.72
«Ȓȵƺȸ ÁƺƬǝȇȒǼȒǕǣƺɀً XȇƬِ
³ۭ¨ ד׎׎
³ۭ¨ ד׎׎ XȇǔȒȸȅƏɎǣȒȇ ÁƺƬǝȇȒǼȒǕɵ
ڟבד׎
ڟבאד
ڟב׎׎
ڟאוד
ڟאד׎
ڟאאד
ڟא׎׎
ڟ׏וד
ڟ׏ד׎
ڟ׏אד
ڟ׏׎׎
ڟוד
ڟד׎
(ƺƬٮ׏ח
(ƺƬٮא׎
(ƺƬٮא׏
(ƺƬٮאא
(ƺƬٮאב
(ƺƬٮאג
The information set forth in Item 12 under the heading “Securities Authorized for Issuance under Equity Compensation
Plans” is incorporated herein by reference.

ĄÝĀKĄěK:ÇÝ¸Ý{KČӓ2024 ANNUAL REPORT
24
ITEM 6 | ӫĄKČKĄřKAӬ
ITEM 7 | MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS
ALL CURRENCY AMOUNTS ARE IN MILLIONS UNLESS SPECIFIED
This item generally discusses our 2024 results compared to our 2023 results. Discussions of our 2023 results compared
to our 2022 results can be found within Part II, Item 7 of our Annual Report on Form 10-K for the year ended
Aǉƺǉȴƹǉɨԝјіӗїѕїјӝ
OVERVIEW
Roper Technologies, Inc. (“Roper,” the “Company,” “we,” “our,” or “us”) is a diversified technology company. Roper has a
proven, long-term, successful track record of compounding cash flow and increasing shareholder value. We operate
market leading businesses that design and develop vertical software and technology enabled products for a variety
of defensible niche markets.
We pursue consistent and sustainable growth in revenue, earnings, and cash flow by enabling continuous improvement
in the operating performance of our existing businesses and by acquiring businesses that offer high value-added
software, services, technology-enabled products, and solutions that we believe are capable of realizing growth while
maintaining high margins.
In November 2022, Roper completed the divestiture of a majority equity stake in its industrial businesses, including its
entire historical Process Technologies reportable segment and the industrial businesses within its historical
Measurement & Analytical Solutions reportable segment (collectively “Indicor”), to Clayton, Dubilier & Rice, LLC.
Following the sale of the majority equity stake, Roper retained a minority equity interest in Indicor. See Note 10 of the
Notes to Consolidated Financial Statements included in this Annual Report for additional information regarding
Roper’s minority equity interest in Indicor.
During 2021, Roper entered into definitive agreements to divest its TransCore, Zetec, and CIVCO Radiotherapy busi-
nesses (“2021 Divestitures”). Roper completed the 2021 Divestitures by March 2022.
The financial results of Indicor and the 2021 Divestitures are reported as discontinued operations for all periods pre-
sented. Unless otherwise noted, discussion within Management’s Discussion and Analysis of Financial Condition and
Results of Operations relates to continuing operations. Refer to Note 3 of the Notes to Consolidated Financial
Statements included in this Annual Report for further information regarding discontinued operations.
SEGMENT REPORTING
Roper’s segment reporting structure is based on business model and delivery of performance obligations. The three
reportable segments are as follows:
Application Software—Aderant, Clinisys, Data Innovations, Deltek, Frontline, IntelliTrans, PowerPlan, Procare, Strata,
Transact/CBORD, 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
Financial information about our reportable segments is presented in Note 14 of the Notes to Consolidated Financial
Statements included in this Annual Report.
APPLICATION OF CRITICAL ACCOUNTING POLICIES
Our Consolidated Financial Statements are prepared in conformity with generally accepted accounting principles in
the United States (“GAAP”). A discussion of our significant accounting policies can also be found in the Notes to
:ɁȶɰɁȢȈǁƃɽǉǁyȈȶƃȶƺȈƃȢČɽƃɽǉȴǉȶɽɰǹɁɨɽȃǉʰǉƃɨǉȶǁǉǁAǉƺǉȴƹǉɨԝјіӗїѕїљȈȶƺȢʍǁǉǁȈȶɽȃȈɰȶȶʍƃȢĄǉɥɁɨɽӝ
GAAP offers acceptable alternative methods for accounting for certain issues affecting our financial results, such as
determining inventory cost, depreciating long-lived assets and recognizing revenue. Other than the changes during
2023 as further described in Note 10 of our Notes to Consolidated Financial Statements with respect to the method-
ology used to value our equity investment in Indicor, we have not changed the application of acceptable accounting
methods or the significant estimates affecting the application of these principles in the last three years in a manner
that had a material effect on our Consolidated Financial Statements.

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25
The preparation of financial statements in accordance with GAAP requires the use of estimates, assumptions, judg-
ments, and interpretations that can affect the reported amounts of assets, liabilities, revenues and expenses, the dis-
closure of contingent assets and liabilities, and other supplemental disclosures.
The development of accounting estimates is the responsibility of our management. Our management discusses
those areas that require significant judgments with the Audit Committee of our Board of Directors. The Audit
Committee has reviewed all financial disclosures in our annual filings with the SEC. Although we believe the positions
we have taken with regard to uncertainties are reasonable, others might reach different conclusions and our positions
can change over time as more information becomes available. If an accounting estimate changes, its effects are
accounted for prospectively or through a cumulative catch-up adjustment.
Our most significant accounting uncertainties are encountered in the areas of income taxes, valuation of other intan-
gible assets, goodwill and other indefinite-lived intangibles impairment analyses, and valuation of our equity invest-
ment in Indicor. Estimates are considered to be significant if they meet both of the following criteria: (1) the estimate
requires assumptions about matters that are uncertain at the time the estimate is made, and (2) changes in the esti-
mate are reasonably likely to have a material financial impact from period-to-period.
Income taxes can be affected by estimates of whether and within which jurisdictions future earnings will occur and if,
how, and when cash is repatriated to the U.S., combined with other aspects of an overall income tax strategy.
Additionally, taxing jurisdictions could retroactively disagree with our tax treatment of certain items, and some histor-
ical transactions have income tax effects going forward. Accounting rules require these future effects to be evaluated
using current laws, rules and regulations, each of which can change at any time and in an unpredictable manner. If
there is a material change in the actual effective tax rates, the time period within which the underlying temporary
differences become taxable or deductible, or if the tax law changes are unfavorable, there could be a resulting
increase to income tax expense and the effective tax rate.
Our 2024 effective income tax rate was 21.2% and our 2023 effective income tax rate was 21.5%. We expect the effec-
tive tax rate for 2025 to be approximately 21% to 22%.
We account for goodwill in a purchase business combination as the excess purchase price over the fair value of the
net identifiable assets acquired. Goodwill, which is not amortized, is tested for impairment on an annual basis in con-
junction with our annual forecast process during the fourth quarter (or an interim basis if an event occurs or circum-
stances change that would more likely than not reduce the fair value of a reporting unit below its carrying value).
When testing goodwill for impairment, we have the option to first assess qualitative factors to determine whether the
existence of events or circumstances leads to a determination that it is more likely than not that the estimated fair
value of a reporting unit is less than its carrying amount. If we elect to perform a qualitative assessment and deter-
mine that an impairment is more likely than not, we are then required to perform the quantitative impairment test;
otherwise, no further analysis is required. Under the qualitative assessment, we consider various qualitative factors,
including macroeconomic conditions, relevant industry and market trends, cost factors, overall financial performance,
other entity-specific events, and events affecting the reporting unit that could indicate a potential change in the fair
value of our reporting unit or the composition of its carrying value. We also consider the specific future outlook for the
reporting unit.
We also may elect not to perform the qualitative assessment and, instead, proceed directly to the quantitative impair-
ment test. The quantitative assessment utilizes the equal weighting of both an income approach (discounted cash
flow) and a market approach (consisting of a comparable public company earnings multiples methodology) to esti-
ȴƃɽǉɽȃǉǹƃȈɨʤƃȢʍǉɁǹƃɨǉɥɁɨɽȈȶǼʍȶȈɽӝԝěɁǁǉɽǉɨȴȈȶǉɽȃǉɨǉƃɰɁȶƃƹȢǉȶǉɰɰɁǹɽȃǉǉɰɽȈȴƃɽǉǁǹƃȈɨʤƃȢʍǉɰӗʥǉɨǉʤȈǉʥɽȃǉ
assumptions to ensure that neither the income approach nor the market approach provides significantly different
ʤƃȢʍƃɽȈɁȶɰӝԝǹɽȃǉǉɰɽȈȴƃɽǉǁǹƃȈɨʤƃȢʍǉǉʯƺǉǉǁɰɽȃǉƺƃɨɨʰȈȶǼʤƃȢʍǉӗȶɁǹʍɨɽȃǉɨʥɁɨȟȈɰɨǉɧʍȈɨǉǁƃȶǁȶɁȈȴɥƃȈɨȴǉȶɽȢɁɰɰ
ȈɰɨǉƺɁǼȶȈ˃ǉǁӝԝǹɽȃǉƺƃɨɨʰȈȶǼʤƃȢʍǉǉʯƺǉǉǁɰɽȃǉǉɰɽȈȴƃɽǉǁǹƃȈɨʤƃȢʍǉӗƃȶɁȶӸƺƃɰȃȈȴɥƃȈɨȴǉȶɽȢɁɰɰȈɰɨǉƺɁǼȶȈ˃ǉǁȈȶɽȃǉ
amount of that excess.
Key assumptions used in the income and market approaches are updated when the analysis is performed for each
ɨǉɥɁɨɽȈȶǼʍȶȈɽӝԝěȃǉƃɰɰʍȴɥɽȈɁȶɰɽȃƃɽȃƃʤǉɽȃǉȴɁɰɽɰȈǼȶȈǹȈƺƃȶɽǉǹǹǉƺɽɁȶɽȃǉǹƃȈɨʤƃȢʍǉƺƃȢƺʍȢƃɽȈɁȶɰƃɨǉɽȃǉɥɨɁȚǉƺɽǉǁ
ɨǉʤǉȶʍǉǼɨɁʥɽȃɨƃɽǉɰӗǹʍɽʍɨǉɁɥǉɨƃɽȈȶǼȴƃɨǼȈȶɰӗǁȈɰƺɁʍȶɽɨƃɽǉɰӗɽǉɨȴȈȶƃȢʤƃȢʍǉɰӗƃȶǁǉƃɨȶȈȶǼɰȴʍȢɽȈɥȢǉɰӝԝŚȃȈȢǉʥǉʍɰǉ
reasonable and timely information to prepare our cash flow and discount rate assumptions, actual future cash flows
or market conditions could differ significantly and could result in future non-cash impairment charges related to
recorded goodwill balances.
Recently acquired reporting units generally represent a higher inherent risk of impairment, which typically decreases
ƃɰɽȃǉƹʍɰȈȶǉɰɰǉɰƃɨǉȈȶɽǉǼɨƃɽǉǁȈȶɽɁɁʍɨǉȶɽǉɨɥɨȈɰǉӝԝÇǉǼƃɽȈʤǉȈȶǁʍɰɽɨʰɁɨǉƺɁȶɁȴȈƺɽɨǉȶǁɰӗǁȈɰɨʍɥɽȈɁȶɰɽɁɁʍɨƹʍɰȈ-
ness, actual results significantly below projections, unexpected significant changes or planned changes in the use of
the assets, divestitures, and market capitalization declines may have a negative effect on the fair value of our report-
ing units.

ĄÝĀKĄěK:ÇÝ¸Ý{KČӓ2024 ANNUAL REPORT
26
As of the annual impairment test, Roper has 23 reporting units with individual goodwill amounts ranging from $17.5
ɽɁԤјӗјћјӝќӝԝȶїѕїљӗɽȃǉ:ɁȴɥƃȶʰɥǉɨǹɁɨȴǉǁȈɽɰƃȶȶʍƃȢȈȴɥƃȈɨȴǉȶɽɽǉɰɽȈȶɽȃǉǹɁʍɨɽȃɧʍƃɨɽǉɨǹɁɨƃȢȢɨǉɥɁɨɽȈȶǼʍȶȈɽɰӝ
The Company conducted its analysis qualitatively and assessed whether it was more likely than not that the respec-
tive fair values of these reporting units were less than their carrying amounts. The Company determined that impair-
ment of goodwill was not likely in any of its reporting units and thus was not required to perform a quantitative
assessment for these reporting units as of October 1, 2024.
Trade names that are determined to have an indefinite useful economic life are not amortized, but separately tested
for impairment during the fourth quarter of the fiscal year or on an interim basis if an event occurs that indicates the
ǹƃȈɨʤƃȢʍǉȈɰȴɁɨǉȢȈȟǉȢʰɽȃƃȶȶɁɽƹǉȢɁʥɽȃǉƺƃɨɨʰȈȶǼʤƃȢʍǉӝԝŚǉǹȈɨɰɽɧʍƃȢȈɽƃɽȈʤǉȢʰƃɰɰǉɰɰʥȃǉɽȃǉɨɽȃǉǉʯȈɰɽǉȶƺǉɁǹǉʤǉȶɽɰ
or circumstances leads to a determination that it is more likely than not that the estimated fair value of the indefi-
nite-lived trade name is less than its carrying amount. If necessary, we conduct a quantitative assessment using the
relief-from-royalty method, which we believe to be an acceptable methodology due to its common use by valuation
ɰɥǉƺȈƃȢȈɰɽɰȈȶǁǉɽǉɨȴȈȶȈȶǼɽȃǉǹƃȈɨʤƃȢʍǉɁǹȈȶɽƃȶǼȈƹȢǉƃɰɰǉɽɰӝԝěȃȈɰȴǉɽȃɁǁɁȢɁǼʰƃɰɰʍȴǉɰɽȃƃɽӗȈȶȢȈǉʍɁǹɁʥȶǉɨɰȃȈɥӗƃ
third party would be willing to pay a royalty in order to exploit the related benefits of these assets. The assumptions
that have the most significant effect on the fair value calculations are the royalty rates, projected revenue growth
ɨƃɽǉɰӗǁȈɰƺɁʍȶɽɨƃɽǉɰӗƃȶǁɽǉɨȴȈȶƃȢʤƃȢʍǉɰӝԝKƃƺȃɨɁʰƃȢɽʰɨƃɽǉȈɰǁǉɽǉɨȴȈȶǉǁƹƃɰǉǁɁȶɽȃǉɥɨɁǹȈɽƃƹȈȢȈɽʰɁǹɽȃǉɽɨƃǁǉȶƃȴǉ
ɽɁʥȃȈƺȃȈɽɨǉȢƃɽǉɰƃȶǁɁƹɰǉɨʤǉǁȴƃɨȟǉɽɨɁʰƃȢɽʰɨƃɽǉɰӝԝĄǉʤǉȶʍǉǼɨɁʥɽȃɨƃɽǉɰƃɨǉǁǉɽǉɨȴȈȶǉǁƃǹɽǉɨƺɁȶɰȈǁǉɨȈȶǼƺʍɨɨǉȶɽ
and future economic conditions, recent sales trends, discussions with customers, planned timing of new product
ȢƃʍȶƺȃǉɰӗɁɨɁɽȃǉɨʤƃɨȈƃƹȢǉɰӝԝěɨƃǁǉȶƃȴǉɰɨǉɰʍȢɽȈȶǼǹɨɁȴɨǉƺǉȶɽƃƺɧʍȈɰȈɽȈɁȶɰǼǉȶǉɨƃȢȢʰɨǉɥɨǉɰǉȶɽɽȃǉȃȈǼȃǉɰɽɨȈɰȟɁǹ
impairment, which typically decreases as the businesses are integrated into our enterprise.
The assessment of fair value for impairment purposes requires significant judgments to be made by manage-
ȴǉȶɽӝԝȢɽȃɁʍǼȃɁʍɨǹɁɨǉƺƃɰɽɰƃɨǉƹƃɰǉǁɁȶƃɰɰʍȴɥɽȈɁȶɰɽȃƃɽƃɨǉƺɁȶɰȈǁǉɨǉǁɨǉƃɰɁȶƃƹȢǉƹʰȴƃȶƃǼǉȴǉȶɽƃȶǁƺɁȶɰȈɰ-
tent with the plans and estimates management uses to operate the underlying businesses, there is significant
ȚʍǁǼȴǉȶɽƃɥɥȢȈǉǁȈȶǁǉɽǉɨȴȈȶȈȶǼɽȃǉǉʯɥǉƺɽǉǁɨǉɰʍȢɽɰƃɽɽɨȈƹʍɽƃƹȢǉɽɁɽȃǉƹʍɰȈȶǉɰɰǉɰƃȶǁӣɁɨɨǉɥɁɨɽȈȶǼʍȶȈɽɰӝԝ:ȃƃȶǼǉɰ
in estimates or the application of alternative assumptions could produce significantly different results.
The most significant identifiable intangible assets with definite useful economic lives recognized from our acquisi-
tions are customer relationships. The fair value for customer relationships is determined as of the acquisition date
using the excess earnings method. Under this methodology the fair value is determined based on the estimated
future after-tax cash flows arising from the acquired customer relationships over their estimated useful lives after con-
sidering customer attrition and contributory asset charges. The assumptions that have the most significant effect on
the fair value calculations are the customer attrition rates, projected customer revenue growth rates, margins, contrib-
utory asset charges, and discount rates. When testing customer relationship intangible assets for potential impair-
ment, management considers historical customer attrition rates and projected revenues and profitability related to
customers that existed at acquisition. In evaluating the amortizable life for customer relationship intangible assets,
management considers historical customer attrition patterns.
We evaluate whether there has been an impairment of identifiable intangible assets with definite useful economic
lives, or of the remaining life of such assets, when certain indicators of impairment are present. In the event that facts
and circumstances indicate that the cost or remaining period of amortization of any asset may be impaired, an eval-
uation of recoverability would be performed. If an evaluation is required, the estimated future gross, undiscounted
cash flows associated with the asset would be compared to the asset’s carrying amount to determine if a write-down
to fair value or a revision in the remaining amortization period is required.
ɰɁǹAǉƺǉȴƹǉɨԝјіӗїѕїљƃȶǁїѕїјӗĄɁɥǉɨȃǉȢǁƃљњӝњՐƃȶǁљќӝјՐȴȈȶɁɨȈɽʰǉɧʍȈɽʰȈȶɽǉɨǉɰɽȈȶȶǁȈƺɁɨKɧʍȈɽʰӗ¸¸:ӗ
respectively. This equity interest provides us with the ability to exercise significant influence, but not control, over the
investee. We elected to apply the fair value option as we believe this is the most reasonable method to value this
equity investment. This investment is classified within Level 3 of the fair value hierarchy as valuation of the investment
reflects management’s estimate of assumptions that market participants would use in pricing the equity interest. Any
changes to the valuation estimates or assumptions, as described further in Note 10 of the Notes to Consolidated
Financial Statements included in this Annual Report, could produce significantly different results. The fair value of our
equity investment in Indicor is estimated on a quarterly basis and the change in fair value is reported as a component
of “Equity investments gain, net” in our Consolidated Statements of Earnings.

ĄÝĀKĄěK:ÇÝ¸Ý{KČӓ2024 ANNUAL REPORT
27
RESULTS OF CONTINUING OPERATIONS
ALL CURRENCY AMOUNTS ARE IN MILLIONS UNLESS SPECIFIED, PERCENTAGES ARE OF NET
REVENUES
Percentages may not sum due to rounding.
The following table sets forth selected information for the years indicated:
Year ended December 31,
2024
2023
2022
Net revenues:
Application Software(1)
Ԥјӗѝћѝӝј
Ԥјӗіѝћӝў
$2,639.5
Network Software(2)
1,475.6
1,439.4
іӗјќѝӝњ
Technology Enabled Products
1,695.3
1,551.5
іӗјњјӝѝ
Total consolidated
$7,039.2
Ԥћӗіќќӝѝ
Ԥњӗјќіӝѝ
Gross margin:
Application Software
ћѝӝљ%
ћѝӝў%
ћѝӝѝ%
Network Software
ѝњӝѕ%
ѝњӝі%
ѝљӝћ%
Technology Enabled Products
57.6%
57.1%
56.9%
Total consolidated
69.3%
69.7%
69.9%
Selling, general and administrative expenses:
Application Software
(42.0)%
(43.1)%
ӯљіӝѝ)%
Network Software
(39.9)%
(41.2)%
(43.2)%
Technology Enabled Products
(23.7)%
(23.7)%
ӯїјӝѝ)%
Total consolidated
(37.1)%
ӯјќӝѝ)%
(37.6)%
Segment operating margin:
Application Software
26.5%
їњӝѝ%
27.1%
Network Software
45.2%
43.9%
41.4%
Technology Enabled Products
33.9%
33.4%
33.2%
Total consolidated
32.2%
31.9%
32.3%
Corporate administrative expenses(3)
ӯјӝѝ)%
(3.7)%
(3.9)%
Income from operations
їѝӝљ
їѝӝї
їѝӝљ
Interest expense, net
(3.7)
(2.7)
(3.6)
Equity investments gain, net
3.3
2.7
—
Other expense, net
(0.1)
—
(0.9)
Earnings before income taxes
27.9
їѝӝї
23.9
Income taxes
(5.9)
(6.1)
(5.5)
Net earnings from continuing operations
22.0%
22.2%
іѝӝј%
(1)
Includes results from the acquisitions of Horizon Lab Systems, LLC from January 3, 2022, Common Cents Systems, Inc. from April 6, 2022, MGA
Systems Holdings, Inc. from June 27, 2022, Common Sense Solutions, Inc. from July 12, 2022, viDesktop Inc. from August 19, 2022, TIP Technologies,
Inc. from September 23, 2022, Frontline from October 4, 2022, Promium, L.L.C. from May 2, 2023, Syntellis from August 7, 2023, Replicon Inc. from
August 21, 2023, ProPricer from December 26, 2023, Procare from February 26, 2024, Transact from August 20, 2024, and Surefyre, Inc. from
November 4, 2024.
(2)
Includes results from the acquisition of Trucker Tools, LLC from December 17, 2024.
(3)
Includes unallocated corporate general and administrative expenses and enterprise-wide stock-based compensation.
YEAR ENDED DECEMBER 31, 2024 COMPARED TO THE YEAR ENDED DECEMBER 31, 2023
Çǉɽ ɨǉʤǉȶʍǉɰ ǹɁɨ ɽȃǉ ʰǉƃɨ ǉȶǁǉǁ Aǉƺǉȴƹǉɨԝ јіӗ їѕїљ ʥǉɨǉ Ԥќӗѕјўӝї ƃɰ ƺɁȴɥƃɨǉǁ ɽɁ Ԥћӗіќќӝѝ ǹɁɨ ɽȃǉ ʰǉƃɨ ǉȶǁǉǁ
AǉƺǉȴƹǉɨԝјіӗїѕїјӗƃȶȈȶƺɨǉƃɰǉɁǹіјӝўՐӝěȃǉƺɁȴɥɁȶǉȶɽɰɁǹɨǉʤǉȶʍǉǼɨɁʥɽȃǹɁɨɽȃǉʰǉƃɨǉȶǁǉǁAǉƺǉȴƹǉɨԝјіӗїѕїљ
were as follows:
Application
Software
Network
Software
Technology
Enabled
Products
Roper
Total Revenue Growth
21.4%
2.5%
9.3%
13.9%
Less Impact of:
Acquisitions
15.7
—
—
ѝӝі
Foreign Exchange
0.1
—
—
—
Organic Revenue Growth
5.6%
2.5%
9.3%
њӝѝ%

ĄÝĀKĄěK:ÇÝ¸Ý{KČӓ2024 ANNUAL REPORT
28
ȶɁʍɨɥɥȢȈƺƃɽȈɁȶČɁǹɽʥƃɨǉɰǉǼȴǉȶɽӗȶǉɽɨǉʤǉȶʍǉɰǹɁɨɽȃǉʰǉƃɨǉȶǁǉǁAǉƺǉȴƹǉɨԝјіӗїѕїљʥǉɨǉԤјӗѝћѝӝјƃɰƺɁȴɥƃɨǉǁ
ɽɁԤјӗіѝћӝўǹɁɨɽȃǉʰǉƃɨǉȶǁǉǁAǉƺǉȴƹǉɨԝјіӗїѕїјӝěȃǉǼɨɁʥɽȃɁǹњӝћՐȈȶɁɨǼƃȶȈƺɨǉʤǉȶʍǉɰʥƃɰƹɨɁƃǁӸƹƃɰǉǁƃƺɨɁɰɰ
the segment led by our businesses serving the project-based business/government contracting, acute healthcare,
ɥɨɁɥǉɨɽʰƃȶǁƺƃɰʍƃȢɽʰȈȶɰʍɨƃȶƺǉӗƃȶǁȢǉǼƃȢȴƃɨȟǉɽɰӝ{ɨɁɰɰȴƃɨǼȈȶǁǉƺɨǉƃɰǉǁɽɁћѝӝљՐǹɁɨɽȃǉʰǉƃɨǉȶǁǉǁAǉƺǉȴƹǉɨԝјіӗ
їѕїљƃɰƺɁȴɥƃɨǉǁɽɁћѝӝўՐǹɁɨɽȃǉʰǉƃɨǉȶǁǉǁAǉƺǉȴƹǉɨԝјіӗїѕїјӗǁʍǉɥɨȈȴƃɨȈȢʰɽɁƃȢɁʥǉɨǼɨɁɰɰȴƃɨǼȈȶɥɨɁǹȈȢǉƃɰɰɁ-
ciated with the higher payments revenue mix at Procare and Transact, our 2024 acquisitions, whose results reduced
ǼɨɁɰɰȴƃɨǼȈȶƹʰіѝѕƹƃɰȈɰɥɁȈȶɽɰӝěȃȈɰǁǉƺɨǉƃɰǉʥƃɰɥƃɨɽȈƃȢȢʰɁǹǹɰǉɽƹʰȈȴɥɨɁʤǉǁȢǉʤǉɨƃǼǉɁȶȃȈǼȃǉɨɁɨǼƃȶȈƺɨǉʤǉȶʍǉɰӝ
Selling, general and administrative (“SG&A”) expenses as a percentage of net revenues decreased to 42.0% in the year
ǉȶǁǉǁAǉƺǉȴƹǉɨԝјіӗїѕїљƃɰƺɁȴɥƃɨǉǁɽɁљјӝіՐȈȶɽȃǉʰǉƃɨǉȶǁǉǁAǉƺǉȴƹǉɨԝјіӗїѕїјӗǁʍǉɥɨȈȴƃɨȈȢʰɽɁȢɁʥǉɨČ{ծ
profiles at Procare and Transact, which collectively reduced SG&A as a percentage of net revenues by 70 basis points,
operating leverage on higher organic revenues, and cost synergies resulting from the integration of Syntellis. The
ɨǉɰʍȢɽȈȶǼɁɥǉɨƃɽȈȶǼȴƃɨǼȈȶʥƃɰїћӝњՐȈȶɽȃǉʰǉƃɨǉȶǁǉǁAǉƺǉȴƹǉɨԝјіӗїѕїљƃɰƺɁȴɥƃɨǉǁɽɁїњӝѝՐȈȶɽȃǉʰǉƃɨǉȶǁǉǁ
Aǉƺǉȴƹǉɨԝјіӗїѕїјӝ
ȶɁʍɨÇǉɽʥɁɨȟČɁǹɽʥƃɨǉɰǉǼȴǉȶɽӗȶǉɽɨǉʤǉȶʍǉɰʥǉɨǉԤіӗљќњӝћǹɁɨɽȃǉʰǉƃɨǉȶǁǉǁAǉƺǉȴƹǉɨԝјіӗїѕїљƃɰƺɁȴɥƃɨǉǁɽɁ
ԤіӗљјўӝљǹɁɨɽȃǉʰǉƃɨǉȶǁǉǁAǉƺǉȴƹǉɨԝјіӗїѕїјӝěȃǉǼɨɁʥɽȃɁǹїӝњՐȈȶɁɨǼƃȶȈƺɨǉʤǉȶʍǉɰʥƃɰȢǉǁƹʰɁʍɨȶǉɽʥɁɨȟɰɁǹɽ-
ware businesses serving the alternate site healthcare, life insurance/annuities, and construction markets, partially offset
by a decline in our businesses serving the media and entertainment and freight match markets primarily related to
ǉȶǁȴƃɨȟǉɽƺɁȶǁȈɽȈɁȶɰӝ{ɨɁɰɰȴƃɨǼȈȶɨǉȴƃȈȶǉǁɨǉȢƃɽȈʤǉȢʰƺɁȶɰȈɰɽǉȶɽƃɽѝњӝѕՐǹɁɨɽȃǉʰǉƃɨǉȶǁǉǁAǉƺǉȴƹǉɨԝјіӗїѕїљƃɰ
ƺɁȴɥƃɨǉǁɽɁѝњӝіՐǹɁɨɽȃǉʰǉƃɨǉȶǁǉǁAǉƺǉȴƹǉɨԝјіӗїѕїјӝČ{ծǉʯɥǉȶɰǉɰƃɰƃɥǉɨƺǉȶɽƃǼǉɁǹȶǉɽɨǉʤǉȶʍǉɰǁǉƺɨǉƃɰǉǁ
ɽɁјўӝўՐȈȶɽȃǉʰǉƃɨǉȶǁǉǁAǉƺǉȴƹǉɨԝјіӗїѕїљӗƃɰƺɁȴɥƃɨǉǁɽɁљіӝїՐȈȶɽȃǉʰǉƃɨǉȶǁǉǁAǉƺǉȴƹǉɨԝјіӗїѕїјӗǁʍǉɥɨȈ-
marily to expense reductions resulting from cost structure rationalization at our businesses serving the freight match
ȴƃɨȟǉɽƃȶǁɁɥǉɨƃɽȈȶǼȢǉʤǉɨƃǼǉɁȶȃȈǼȃǉɨɁɨǼƃȶȈƺɨǉʤǉȶʍǉɰӝԝěȃǉɨǉɰʍȢɽȈȶǼɁɥǉɨƃɽȈȶǼȴƃɨǼȈȶʥƃɰљњӝїՐȈȶɽȃǉʰǉƃɨ
ǉȶǁǉǁAǉƺǉȴƹǉɨԝјіӗїѕїљƃɰƺɁȴɥƃɨǉǁɽɁљјӝўՐȈȶɽȃǉʰǉƃɨǉȶǁǉǁAǉƺǉȴƹǉɨјіӗїѕїјӝ
ȶɁʍɨěǉƺȃȶɁȢɁǼʰKȶƃƹȢǉǁĀɨɁǁʍƺɽɰɰǉǼȴǉȶɽӗȶǉɽɨǉʤǉȶʍǉɰʥǉɨǉԤіӗћўњӝјǹɁɨɽȃǉʰǉƃɨǉȶǁǉǁAǉƺǉȴƹǉɨԝјіӗїѕїљƃɰ
ƺɁȴɥƃɨǉǁɽɁԤіӗњњіӝњǹɁɨɽȃǉʰǉƃɨǉȶǁǉǁAǉƺǉȴƹǉɨԝјіӗїѕїјӝěȃǉǼɨɁʥɽȃɁǹўӝјՐȈȶɁɨǼƃȶȈƺɨǉʤǉȶʍǉɰʥƃɰȢǉǁƹʰɁʍɨ
medical products businesses, excluding our precision measurement business, and growth in our water meter tech-
ȶɁȢɁǼʰƹʍɰȈȶǉɰɰӝԝěȃǉɰǉȈȶƺɨǉƃɰǉɰʥǉɨǉɥƃɨɽȈƃȢȢʰɁǹǹɰǉɽɥɨȈȴƃɨȈȢʰƹʰƃǁǉƺȢȈȶǉȈȶɁʍɨƃƺƺǉɰɰȴƃȶƃǼǉȴǉȶɽƹʍɰȈȶǉɰɰǉɰӝ
{ɨɁɰɰȴƃɨǼȈȶȈȶƺɨǉƃɰǉǁɽɁњќӝћՐǹɁɨɽȃǉʰǉƃɨǉȶǁǉǁAǉƺǉȴƹǉɨԝјіӗїѕїљƃɰƺɁȴɥƃɨǉǁɽɁњќӝіՐǹɁɨɽȃǉʰǉƃɨǉȶǁǉǁ
AǉƺǉȴƹǉɨԝјіӗїѕїјӗǁʍǉɥɨȈȴƃɨȈȢʰɽɁȈȴɥɨɁʤǉǁȢǉʤǉɨƃǼǉɁȶȃȈǼȃǉɨɁɨǼƃȶȈƺɨǉʤǉȶʍǉɰƃȶǁɨǉʤǉȶʍǉȴȈʯӝČ{ծǉʯɥǉȶɰǉɰ
ƃɰƃɥǉɨƺǉȶɽƃǼǉɁǹȶǉɽɨǉʤǉȶʍǉɰɨǉȴƃȈȶǉǁƺɁȶɰȈɰɽǉȶɽƃɽїјӝќՐȈȶƹɁɽȃɽȃǉʰǉƃɨɰǉȶǁȈȶǼAǉƺǉȴƹǉɨԝјіӗїѕїљƃȶǁ
їѕїјӝԝěȃǉɨǉɰʍȢɽȈȶǼɁɥǉɨƃɽȈȶǼȴƃɨǼȈȶʥƃɰјјӝўՐȈȶɽȃǉʰǉƃɨǉȶǁǉǁAǉƺǉȴƹǉɨԝјіӗїѕїљƃɰƺɁȴɥƃɨǉǁɽɁјјӝљՐȈȶɽȃǉ
ʰǉƃɨǉȶǁǉǁAǉƺǉȴƹǉɨԝјіӗїѕїјӝ
:ɁɨɥɁɨƃɽǉǉʯɥǉȶɰǉɰȈȶƺɨǉƃɰǉǁƹʰԤљѕӝќɽɁԤїћќӝљӗɁɨјӝѝՐɁǹȶǉɽɨǉʤǉȶʍǉɰӗȈȶїѕїљƃɰƺɁȴɥƃɨǉǁɽɁԤїїћӝќӗɁɨјӝќՐɁǹ
net revenues, in 2023. The dollar increase was due primarily to higher stock-based compensation expense as well as
expense associated with settled litigation.
ȶɽǉɨǉɰɽǉʯɥǉȶɰǉӗȶǉɽӗȈȶƺɨǉƃɰǉǁƹʰԤўљӝњӗɁɨƃњќӝљՐȈȶƺɨǉƃɰǉӗɽɁԤїњўӝїǹɁɨɽȃǉʰǉƃɨǉȶǁǉǁAǉƺǉȴƹǉɨԝјіӗїѕїљƃɰƺɁȴ-
ɥƃɨǉǁɽɁԤіћљӝќǹɁɨɽȃǉʰǉƃɨǉȶǁǉǁAǉƺǉȴƹǉɨԝјіӗїѕїјӝԝěȃǉȈȶƺɨǉƃɰǉʥƃɰǁʍǉɥɨȈȴƃɨȈȢʰɽɁȃȈǼȃǉɨʥǉȈǼȃɽǉǁƃʤǉɨƃǼǉ
debt balances and less interest income earned on our cash and cash equivalents.
KɧʍȈɽʰȈȶʤǉɰɽȴǉȶɽɰǼƃȈȶӗȶǉɽӗʥƃɰԤїјљӝћǹɁɨɽȃǉʰǉƃɨǉȶǁǉǁAǉƺǉȴƹǉɨԝјіӗїѕїљǁʍǉɥɨȈȴƃɨȈȢʰɽɁƃԤіјњӝћǼƃȈȶɁȶɽȃǉ
sale of our equity investment in Certinia, a $96.4 increase in the fair value of our equity investment in Indicor, and
ԤіѕӝѝɁǹǁȈʤȈǁǉȶǁǁȈɰɽɨȈƹʍɽȈɁȶɰɨǉƺǉȈʤǉǁǹɨɁȴȶǁȈƺɁɨӗɥƃɨɽȈƃȢȢʰɁǹǹɰǉɽƹʰɁʍɨɥɨɁɥɁɨɽȈɁȶƃɽǉɰȃƃɨǉɁǹȶǉɽȢɁɰɰƃɰɰɁƺȈƃɽǉǁ
ʥȈɽȃɽȃǉȈȶʤǉɰɽȴǉȶɽȈȶ:ǉɨɽȈȶȈƃɁǹԤўӝѝȈȶƃƺƺɁɨǁƃȶƺǉʥȈɽȃɽȃǉǉɧʍȈɽʰȴǉɽȃɁǁɁǹƃƺƺɁʍȶɽȈȶǼӝKɧʍȈɽʰȈȶʤǉɰɽȴǉȶɽɰǼƃȈȶӗ
ȶǉɽӗʥƃɰԤіћњӝљǹɁɨɽȃǉʰǉƃɨǉȶǁǉǁAǉƺǉȴƹǉɨԝјіӗїѕїјǁʍǉɥɨȈȴƃɨȈȢʰɽɁƃԤіљѕӝўȈȶƺɨǉƃɰǉȈȶɽȃǉǹƃȈɨʤƃȢʍǉɁǹɁʍɨǉɧʍȈɽʰ
investment in Indicor and $32.5 of dividend distributions received from Indicor, partially offset by our proportionate
share of net loss associated with the investment in Certinia of $5.2.
ÝɽȃǉɨǉʯɥǉȶɰǉӗȶǉɽӗɁǹԤњӝѕǹɁɨɽȃǉʰǉƃɨǉȶǁǉǁAǉƺǉȴƹǉɨԝјіӗїѕїљʥƃɰƺɁȴɥɁɰǉǁɥɨȈȴƃɨȈȢʰɁǹǹɁɨǉȈǼȶǉʯƺȃƃȶǼǉȢɁɰɰǉɰ
ƃɽɁʍɨȶɁȶӸĩӝČӝƹƃɰǉǁɰʍƹɰȈǁȈƃɨȈǉɰӝÝɽȃǉɨǉʯɥǉȶɰǉӗȶǉɽӗɁǹԤїӝѝǹɁɨɽȃǉʰǉƃɨǉȶǁǉǁAǉƺǉȴƹǉɨԝјіӗїѕїјʥƃɰƺɁȴɥɁɰǉǁ
primarily of foreign exchanges losses at our non-U.S. based subsidiaries, partially offset by a gain on the sale of non-op-
erating assets.
Our 2024 effective income tax rate of 21.2% decreased as compared to our 2023 tax rate of 21.5%, due primarily to the
release of valuation allowances, partially offset by a reduction in stock-based compensation tax benefits.
Backlog is equal to our remaining performance obligations expected to be recognized as revenue within the next 12
months as discussed within Note 1 of the Notes to Consolidated Financial Statements. Backlog decreased 1.6% to
ԤјӗіѕњӝљƃɽAǉƺǉȴƹǉɨԝјіӗїѕїљƃɰƺɁȴɥƃɨǉǁɽɁԤјӗіњћӝћƃɽAǉƺǉȴƹǉɨԝјіӗїѕїјǁʍǉɥɨȈȴƃɨȈȢʰɽɁƃǁǉƺɨǉƃɰǉȈȶɁʍɨ
Technology Enabled Products segment associated with the normalization of supply chain ordering patterns, partially
offset by acquisitions and organic growth in our Application Software segment.

ĄÝĀKĄěK:ÇÝ¸Ý{KČӓ2024 ANNUAL REPORT
29
2024
2023
Change
Application Software
$2,274.6
ԤԞїӗіјћӝі
6.5%
Network Software
њіњӝѝ
493.6
4.5%
Technology Enabled Products
315.0
526.9
(40.2)%
Total
ԤԞјӗіѕњӝљ
$3,156.6
(1.6)%
FINANCIAL CONDITION, LIQUIDITY, AND CAPITAL RESOURCES
ALL CURRENCY AMOUNTS ARE IN MILLIONS UNLESS SPECIFIED
Selected cash flows for the years ended December 31, 2024 and 2023 were as follows:
2023
Cash provided by (used in) continuing operations from:
Operating activities
$ 2,393.2
$ 2,037.4
Investing activities
Ԥӯјӗљћѝӝњ)
$ӯїӗіїѝӝј)
Financing activities
$ 1,069.5
$ (499.5)
Operating activities—Net cash provided by operating activities from continuing operations increased by 17% to
$2,393.2 in 2024 as compared to $2,037.4 in 2023 due primarily to higher net earnings from continuing operations net
of non-cash expenses, increased collections on accounts receivable, the absence of the cash payment from the prior
year of $45.0 related to the settlement of a patent litigation matter, and timing associated with interest payments on
our senior notes issued in 2024, partially offset by higher cash taxes paid.
Investing activities—Cash used in investing activities from continuing operations during 2024 was primarily for busi-
ness acquisitions, most notably Procare and Transact, partially offset by proceeds from the sale of our equity invest-
ment in Certinia. Cash used in investing activities from continuing operations during 2023 was primarily for business
acquisitions, most notably Syntellis and Replicon.
Financing activities—Cash provided by financing activities from continuing operations during 2024 was primarily from
the issuance of $2,000.0 of senior notes and net proceeds from stock-based compensation, partially offset by $500.0
of senior notes repaid at maturity, dividend payments, and $235.0 of net repayments on our unsecured revolving
credit facility. Cash used in financing activities from continuing operations during 2023 was primarily for $700.0 of
senior notes repaid at maturity as well as dividend payments, partially offset by net borrowings of $360.0 under our
unsecured revolving credit facility and net proceeds from stock-based compensation.
Net working capital (total current assets, excluding cash, less total current liabilities, excluding debt) was negative
ԤіӗљјљӝћƃɽAǉƺǉȴƹǉɨԝјіӗїѕїљƃɰƺɁȴɥƃɨǉǁɽɁȶǉǼƃɽȈʤǉԤіӗіўћӝћƃɽAǉƺǉȴƹǉɨԝјіӗїѕїјӗǁʍǉɥɨȈȴƃɨȈȢʰɽɁȈȶƺɨǉƃɰǉǁ
deferred revenue as well as increases in accrued liabilities driven by accrued compensation and interest, partially off-
set by an increase in accounts receivable. Consistent negative net working capital demonstrates Roper’s continued
focus on asset-light business models.
ěɁɽƃȢǁǉƹɽǉʯƺȢʍǁȈȶǼʍȶƃȴɁɨɽȈ˃ǉǁǁǉƹɽȈɰɰʍƃȶƺǉƺɁɰɽɰʥƃɰԤќӗћћўӝїƃɽAǉƺǉȴƹǉɨԝјіӗїѕїљӯїѝӝўՐɁǹɽɁɽƃȢƺƃɥȈɽƃȢӰƃɰ
ƺɁȴɥƃɨǉǁɽɁԤћӗјћѕӝїƃɽAǉƺǉȴƹǉɨԝјіӗїѕїјӯїћӝќՐɁǹɽɁɽƃȢƺƃɥȈɽƃȢӰӝÝʍɨɽɁɽƃȢǁǉƹɽȈȶƺɨǉƃɰǉǁƃɽAǉƺǉȴƹǉɨԝјіӗїѕїљƃɰ
ƺɁȴɥƃɨǉǁɽɁAǉƺǉȴƹǉɨԝјіӗїѕїјǁʍǉɥɨȈȴƃɨȈȢʰɽɁɽȃǉȈɰɰʍƃȶƺǉɁǹԤїӗѕѕѕӝѕɁǹɰǉȶȈɁɨȶɁɽǉɰӗɥƃɨɽȈƃȢȢʰɁǹǹɰǉɽƹʰԤњѕѕӝѕ
of senior notes repaid at maturity and $235.0 of net repayments on our unsecured revolving credit facility. The net
proceeds from the issuance of senior notes were used to repay a portion of the borrowings outstanding under our
unsecured credit facility, including borrowings incurred to fund the purchase price of the Transact acquisition, as well
as to repay a portion of the senior notes due September 15, 2024. The remaining portion of senior notes due September
15, 2024 were repaid using borrowings under our unsecured credit facility.
On July 21, 2022, we entered into a five-year unsecured credit facility (the “Credit Agreement”) among Roper, the finan-
cial institutions from time to time party thereto, JPMorgan Chase Bank, N.A., as administrative agent, Bank of America,
N.A. and Wells Fargo Bank, N.A., as syndication agents, and Mizuho Bank, Ltd., MUFG Bank, Ltd., PNC Bank, National
Association, TD Bank, N.A., Truist Bank, and U.S. Bank, National Association, as documentation agents, which replaced
the previous $3,000.0 unsecured credit facility, dated as of September 2, 2020, as amended. The Credit Agreement
comprises a five-year $3,500.0 revolving credit facility, which includes availability of up to $150.0 for letters of credit.
We may also, subject to compliance with specified conditions, request additional term loans or revolving credit com-
mitments in an aggregate amount not to exceed $500.0.
The Credit Agreement requires Roper to maintain a Total Debt to Total Capital Ratio (as defined in the Credit
Agreement) of 0.65 to 1.00, or less. Borrowings under the Credit Agreement are prepayable at Roper’s option at any
time in whole or in part without premium or penalty.

ĄÝĀKĄěK:ÇÝ¸Ý{KČӓ2024 ANNUAL REPORT
30
We were in compliance with all debt covenants related to our unsecured credit facility throughout the years ended
Aǉƺǉȴƹǉɨԝјіӗїѕїљƃȶǁїѕїјӝ
ɽAǉƺǉȴƹǉɨԝјіӗїѕїљӗʥǉȃƃǁԤќӗњѕѕӝѕɁǹɰǉȶȈɁɨʍȶɰǉƺʍɨǉǁȶɁɽǉɰӗԤіїњӝѕɁǹƹɁɨɨɁʥȈȶǼɰɁʍɽɰɽƃȶǁȈȶǼʍȶǁǉɨɁʍɨʍȶɰǉ-
ƺʍɨǉǁɨǉʤɁȢʤȈȶǼƺɨǉǁȈɽǹƃƺȈȢȈɽʰƃȶǁԤћӝѝɁǹɁʍɽɰɽƃȶǁȈȶǼȢǉɽɽǉɨɰɁǹƺɨǉǁȈɽƃɽAǉƺǉȴƹǉɨԝјіӗїѕїљӗɁǹʥȃȈƺȃӗԤћӝѕʥƃɰƺɁʤ-
ǉɨǉǁƹʰɁʍɨȢǉȶǁȈȶǼǼɨɁʍɥɽȃǉɨǉƹʰɨǉǁʍƺȈȶǼɁʍɨɨǉʤɁȢʤȈȶǼƺɨǉǁȈɽƺƃɥƃƺȈɽʰƺɁȴȴǉȶɰʍɨƃɽǉȢʰӝɽAǉƺǉȴƹǉɨԝјіӗїѕїљӗʥǉ
also had $44.2 of other debt in the form of short-term borrowings and finance leases.
We may redeem some or all of each outstanding series of senior notes at any time or from time to time, at 100% of
their principal amount, plus a make-whole premium based on a spread to U.S. Treasury securities.
See Note 9 of the Notes to Consolidated Financial Statements included in this Annual Report for additional informa-
tion regarding our debt.
:ƃɰȃƃȶǁƺƃɰȃǉɧʍȈʤƃȢǉȶɽɰȃǉȢǁƃɽɁʍɨǹɁɨǉȈǼȶɰʍƹɰȈǁȈƃɨȈǉɰɽɁɽƃȢǉǁԤіјѕӝѝƃɽAǉƺǉȴƹǉɨԝјіӗїѕїљƃɰƺɁȴɥƃɨǉǁɽɁԤіљѝӝј
ƃɽAǉƺǉȴƹǉɨԝјіӗїѕїјӗƃǁǉƺɨǉƃɰǉɁǹііӝѝՐӝԝěȃǉǁǉƺɨǉƃɰǉʥƃɰɥɨȈȴƃɨȈȢʰǁʍǉɽɁƺƃɰȃɨǉɥƃɽɨȈƃɽȈɁȶɁǹԤїќѕӝўӗɥƃɨɽȈƃȢȢʰɁǹǹ-
set by cash generated at our foreign subsidiaries. We intend to repatriate substantially all historical and future
earnings.
:ƃɥȈɽƃȢǉʯɥǉȶǁȈɽʍɨǉɰʥǉɨǉԤћћӝѕƃȶǁԤћѝӝѕǁʍɨȈȶǼїѕїљƃȶǁїѕїјӗɨǉɰɥǉƺɽȈʤǉȢʰӝ:ƃɥȈɽƃȢȈ˃ǉǁɰɁǹɽʥƃɨǉǉʯɥǉȶǁȈɽʍɨǉɰ
were $45.0 and $40.0 during 2024 and 2023, respectively. Capital expenditures and capitalized software expenditures
were relatively consistent as a percentage of annual net revenues in 2024 as compared to 2023. In the future, we
expect the aggregate of capital expenditures and capitalized software expenditures as a percentage of annual net
revenues to be between 1.0% and 1.5%.
MATERIAL CONTRACTUAL CASH OBLIGATIONS
ALL CURRENCY AMOUNTS ARE IN MILLIONS
ěȃǉǹɁȢȢɁʥȈȶǼɽƃƹȢǉɧʍƃȶɽȈǹȈǉɰɁʍɨȴƃɽǉɨȈƃȢƺɁȶɽɨƃƺɽʍƃȢƺƃɰȃɁƹȢȈǼƃɽȈɁȶɰƃɽAǉƺǉȴƹǉɨԝјіӗїѕїљӖ
Payments due in fiscal year
Material contractual cash obligations(1)
Total
2025
2026
2027
їѕїѝ
2029
Thereafter
Total debt
$ 7,669.2
ԤԞіӗѕљљӝі
$ 700.1
ԤԞѝїњӝѕ
Ԥѝѕѕӝѕ
$1,200.0
$3,100.0
Senior note interest
1,315.6
244.3
215.4
іѝѝӝѝ
179.0
145.4
342.7
Operating leases
221.9
51.7
43.6
36.5
їѝӝќ
20.3
41.1
Purchase obligations(2)
1,252.2
њѝїӝї
215.4
159.1
іљѝӝў
137.7
ѝӝў
Total
Ԥіѕӗљњѝӝў
$1,922.3
$1,174.5
$1,209.4
$1,156.6
ԤԞіӗњѕјӝљ
$ 3,492.7
(1) We have excluded the liability for uncertain tax positions and certain other tax liabilities as we are not able to reasonably estimate the timing of the
ɥƃʰȴǉȶɽɰӝČǉǉÇɁɽǉѝɁǹɽȃǉÇɁɽǉɰɽɁ:ɁȶɰɁȢȈǁƃɽǉǁyȈȶƃȶƺȈƃȢČɽƃɽǉȴǉȶɽɰȈȶƺȢʍǁǉǁȈȶɽȃȈɰȶȶʍƃȢĄǉɥɁɨɽӝ
(2) Represents minimum fixed price purchase commitments that are legally binding across Roper.
We believe that internally generated cash flows and the remaining availability under our unsecured credit facility will
be adequate to finance our normal operating requirements. Although we maintain an active acquisition program, any
future acquisitions will be dependent on numerous factors and it is not feasible to reasonably estimate if or when any
such acquisitions will occur and what the impact will be on our business, financial condition, and results of operations.
Such acquisitions may be financed by the use of existing credit lines, future cash flows from operations, future dives-
titures, the proceeds from the issuance of new debt or equity securities, or any combination of these methods, the
terms and availability of which will be subject to market and economic conditions generally.
We anticipate that our businesses will generate positive cash flows from operating activities, and that these cash
flows will permit the reduction of currently outstanding debt in accordance with the repayment schedule. However,
the rate at which we can reduce our debt during 2025 (and reduce the associated interest expense) will be affected
by, among other things, the financing and operating requirements of any new acquisitions, the financial performance
of our existing companies, the impact of geopolitical and economic uncertainties, and the financial markets gener-
ally. None of these factors can be predicted with certainty.
RECENTLY ISSUED ACCOUNTING STANDARDS
See Note 1 of the Notes to Consolidated Financial Statements included in this Annual Report for information regard-
ing the effect of new accounting pronouncements on our Consolidated Financial Statements.

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ITEM 7A | QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
We are exposed to interest rate risks on our outstanding revolving credit facility borrowings, and to foreign currency
exchange risks on our transactions and balances denominated in currencies other than the U.S. dollar. We are also
exposed to equity price risk as it relates to the change in fair value of our equity investment in Indicor, and to equity
market risks pertaining to the traded price of our common stock.
ɽAǉƺǉȴƹǉɨԝјіӗїѕїљӗʥǉȃƃǁԤќӗњѕѕӝѕɁǹǹȈʯǉǁӸɨƃɽǉƹɁɨɨɁʥȈȶǼɰʥȈɽȃȈȶɽǉɨǉɰɽɨƃɽǉɰɨƃȶǼȈȶǼǹɨɁȴіӝѕѕՐɽɁљӝўѕՐӝɽ
AǉƺǉȴƹǉɨԝјіӗїѕїљӗɽȃǉɥɨǉʤƃȈȢȈȶǼȴƃɨȟǉɽɨƃɽǉɰǹɁɨǉƃƺȃɁǹɁʍɨȢɁȶǼӸɽǉɨȴȶɁɽǉɰʥƃɰƃɽȢǉƃɰɽѕӝљՐƹʍɽȶɁȴɁɨǉɽȃƃȶ
3.7% higher than the fixed rates on our debt instruments. Our unsecured credit facility contains a $3,500.0 variable-
ɨƃɽǉɨǉʤɁȢʤǉɨʥȈɽȃԤіїњӝѕɁǹɁʍɽɰɽƃȶǁȈȶǼƹɁɨɨɁʥȈȶǼɰƃɽAǉƺǉȴƹǉɨԝјіӗїѕїљӝ
Several of our businesses have transactions and balances denominated in currencies other than the U.S. dollar. Most
of these transactions or balances are denominated in British pounds, Canadian dollars, or euros. Net revenues recog-
nized by our companies whose functional currency is not the U.S. dollar were approximately 9% of our total net reve-
ȶʍǉɰȈȶїѕїљƃȶǁƃɥɥɨɁʯȈȴƃɽǉȢʰѝѝՐɁǹɽȃǉɰǉȶǉɽɨǉʤǉȶʍǉɰʥǉɨǉɨǉƺɁǼȶȈ˃ǉǁƹʰɁʍɨƺɁȴɥƃȶȈǉɰʥȈɽȃƃǹʍȶƺɽȈɁȶƃȢ
currency that is either the British pound, Canadian dollar, or euro. If these currency exchange rates had been 10%
different throughout 2024 compared to currency exchange rates actually experienced, the impact on our net earn-
ings would have been less than 1%.
We are exposed to equity price risk as it relates to the change in fair value of our equity investment in Indicor. This
equity investment is accounted for under the fair value option with its fair value estimated on a quarterly basis and its
change in fair value reported as a component of “Equity investments gain, net” in our Consolidated Statements of
Earnings. A hypothetical 10% decrease in the fair value of our equity investment in Indicor based on the balance at
AǉƺǉȴƹǉɨԝјіӗїѕїљʥɁʍȢǁɨǉɰʍȢɽȈȶƃȶɁȶӸƺƃɰȃƺȃƃɨǼǉʥȈɽȃȈȶȶɁȶӸɁɥǉɨƃɽȈȶǼȈȶƺɁȴǉɁǹƃɥɥɨɁʯȈȴƃɽǉȢʰԤќќӝїӝČǉǉÇɁɽǉ
10 of the Notes to Consolidated Financial Statements included in this Annual Report for additional information on this
equity investment.
The trading price of our common stock influences the valuation of stock award grants and the effects these grants
have on our results of operations. The stock price also influences the computation of potentially dilutive common
stock used in the determination of diluted earnings per share. In addition, the stock price also affects our employees’
perceptions of programs that involve our common stock. The quantification of the effects of these changing prices on
our future earnings and cash flows is not readily determinable.
ITEM 8 | FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
INDEX TO CONSOLIDATED FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
Consolidated Financial Statements:
Page
ĄǉɥɁɨɽɁǹȶǁǉɥǉȶǁǉȶɽĄǉǼȈɰɽǉɨǉǁĀʍƹȢȈƺƺƺɁʍȶɽȈȶǼyȈɨȴӯĀɨȈƺǉʥƃɽǉɨȃɁʍɰǉ:ɁɁɥǉɨɰ¸¸ĀӗĀ:Ý9AїјѝӰ . . . . . 32
Consolidated Balance Sheets as of December 31, 2024 and 2023. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35
Consolidated Statements of Earnings for the Years ended December 31, 2024, 2023, and 2022 . . . . . . . . . . . . . . . . . 36
Consolidated Statements of Comprehensive Income for the Years ended December 31, 2024,
2023, and 2022. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36
Consolidated Statements of Stockholders’ Equity for the Years ended December 31, 2024, 2023, and 2022 . . . . . 37
Consolidated Statements of Cash Flows for the Years ended December 31, 2024, 2023, and 2022. . . . . . . . . . . . . . . јѝ
Notes to Consolidated Financial Statements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40

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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Board of Directors and Stockholders of Roper Technologies, Inc.
Opinions on the Financial Statements and Internal Control over Financial Reporting
We have audited the accompanying consolidated balance sheets of Roper Technologies, Inc. and its subsidiaries (the
“Company”) as of December 31, 2024 and 2023, and the related consolidated statements of earnings, of comprehensive
income, of stockholders’ equity, and of cash flows for each of the three years in the period ended December 31, 2024,
including the related notes (collectively referred to as the “consolidated financial statements”). We also have audited
the Company’s internal control over financial reporting as of December 31, 2024, based on criteria established in
Internal Control—Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway
k
Commission (COSO).
In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the
financial position of the Company as of December 31, 2024 and 2023, and the results of its operations and its cash
flows for each of the three years in the period ended December 31, 2024 in conformity with accounting principles
generally accepted in the United States of America. Also in our opinion, the Company maintained, in all material
respects, effective internal control over financial reporting as of December 31, 2024, based on criteria established in
Internal Control—Integrated Framework (2013) issued by the COSO.
Basis for Opinions
The Company’s management is responsible for these consolidated financial statements, for maintaining effective
internal control over financial reporting, and for its assessment of the effectiveness of internal control over financial
reporting, included in Management’s Report on Internal Control over Financial Reporting appearing under Item 9A.
Our responsibility is to express opinions on the Company’s consolidated financial statements and on the Company’s
internal control over financial reporting based on our audits. We are a public accounting firm registered with the
Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with
respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations
of the Securities and Exchange Commission and the PCAOB.
We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and
perform the audits to obtain reasonable assurance about whether the consolidated financial statements are free of
material misstatement, whether due to error or fraud, and whether effective internal control over financial reporting
was maintained in all material respects.
Our audits of the consolidated financial statements included performing procedures to assess the risks of material
misstatement of the consolidated financial statements, whether due to error or fraud, and performing procedures
that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts
and disclosures in the consolidated financial statements. Our audits also included evaluating the accounting princi-
ples used and significant estimates made by management, as well as evaluating the overall presentation of the con-
solidated financial statements. Our audit of internal control over financial reporting included obtaining an
understanding of internal control over financial reporting, assessing the risk that a material weakness exists, and test-
ing and evaluating the design and operating effectiveness of internal control based on the assessed risk. Our audits
also included performing such other procedures as we considered necessary in the circumstances. We believe that
our audits provide a reasonable basis for our opinions.
As described in Management’s Report on Internal Control over Financial Reporting, management has excluded four
entities from its assessment of internal control over financial reporting as of December 31, 2024 because they were
acquired by the Company in purchase business combinations during 2024. We have also excluded these four entities
from our audit of internal control over financial reporting. These entities, each of which is wholly-owned, comprised, in
the aggregate, total assets and total revenues excluded from management’s assessment and our audit of internal
control over financial reporting of less than 1% and approximately 5% of consolidated total assets and consolidated
total revenues, respectively, as of and for the year ended December 31, 2024.
Definition and Limitations of Internal Control over Financial Reporting
A company’s internal control over financial reporting is a process designed to provide reasonable assurance regarding
the reliability of financial reporting and the preparation of financial statements for external purposes in accordance
with generally accepted accounting principles. A company’s internal control over financial reporting includes those
policies and procedures that (i) pertain to the maintenance of records that, in reasonable detail, accurately and fairly
reflect the transactions and dispositions of the assets of the company; (ii) provide reasonable assurance that transac-
tions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted
accounting principles, and that receipts and expenditures of the company are being made only in accordance with
authorizations of management and directors of the company; and (iii) provide reasonable assurance regarding pre-
vention or timely detection of unauthorized acquisition, use, or disposition of the company’s assets that could have a
material effect on the financial statements.

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Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements.
Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become
inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may
deteriorate.
Critical Audit Matters
The critical audit matters communicated below are matters arising from the current period audit of the consolidated
financial statements that were communicated or required to be communicated to the audit committee and that (i)
relate to accounts or disclosures that are material to the consolidated financial statements and (ii) involved our espe-
cially challenging, subjective, or complex judgments. The communication of critical audit matters does not alter in any
way our opinion on the consolidated financial statements, taken as a whole, and we are not, by communicating the
critical audit matters below, providing separate opinions on the critical audit matters or on the accounts or disclosures
to which they relate.
Acquisition of Genesis Ultimate Holding Co.—Valuation of Customer Relationships
As described in Notes 1 and 2 to the consolidated financial statements, on February 26, 2024, the Company acquired
{ǉȶǉɰȈɰĩȢɽȈȴƃɽǉɁȢǁȈȶǼ:ɁӝӗɽȃǉɥƃɨǉȶɽƺɁȴɥƃȶʰɁǹĀɨɁƺƃɨǉČɁǹɽʥƃɨǉӗ¸¸:ӗǹɁɨƃȶǉɽɥʍɨƺȃƃɰǉɥɨȈƺǉɁǹԤіӗѝћѕӝѕ
ȴȈȢȢȈɁȶӝÝǹɽȃǉƃƺɧʍȈɨǉǁƃȴɁɨɽȈ˃ƃƹȢǉȈȶɽƃȶǼȈƹȢǉƃɰɰǉɽɰӗԤќѕѝӝѕȴȈȢȢȈɁȶɁǹƺʍɰɽɁȴǉɨɨǉȢƃɽȈɁȶɰȃȈɥɰʥǉɨǉɨǉƺɁɨǁǉǁӝěȃǉ
fair value for customer relationships is determined as of the acquisition date using the excess earnings method. Under
this methodology, the fair value is determined by management based on the estimated future after-tax cash flows
arising from the acquired customer relationships over their estimated useful lives after considering customer attrition
and contributory asset charges. The assumptions that have the most significant effect on the fair value calculations
are the customer attrition rates, projected customer revenue growth rates, margins, contributory asset charges, and
discount rates.
The principal considerations for our determination that performing procedures relating to the valuation of customer
relationships acquired in the acquisition of Genesis Ultimate Holding Co. is a critical audit matter are (i) the significant
judgment by management when developing the fair value estimate of the customer relationships acquired; (ii) a high
degree of auditor judgment, subjectivity, and effort in performing procedures and evaluating management’s signifi-
cant assumptions related to the customer attrition rate, projected customer revenue growth rates, margins, and dis-
count rate; and (iii) the audit effort involved the use of professionals with specialized skill and knowledge.
Addressing the matter involved performing procedures and evaluating audit evidence in connection with forming
our overall opinion on the consolidated financial statements. These procedures included testing the effectiveness of
controls relating to the acquisition accounting, including controls over management’s valuation of the customer rela-
tionships acquired. These procedures also included, among others (i) reading the purchase agreement; (ii) testing
management’s process for developing the fair value estimate of the customer relationships acquired; (iii) evaluating
the appropriateness of the excess earnings method used by management; (iv) testing the completeness and accu-
racy of the underlying data used in the excess earnings method; and (v) evaluating the reasonableness of the signifi-
cant assumptions used by management related to the customer attrition rate, projected customer revenue growth
rates, margins, and discount rate. Evaluating management’s assumptions related to projected customer revenue
growth rates and margins involved considering (i) the current and past performance of the Genesis Ultimate Holding
Co. business; (ii) the consistency with external market and industry data; and (iii) whether the assumptions were con-
sistent with evidence obtained in other areas of the audit. Professionals with specialized skill and knowledge were
used to assist in evaluating (i) the appropriateness of the excess earnings method and (ii) the reasonableness of the
customer attrition rate and discount rate assumptions.
Acquisition of RCP Vega Holdings, LLC—Valuation of Customer Relationships
As described in Notes 1 and 2 to the consolidated financial statements, on August 20, 2024, the Company acquired RCP
Vega Holdings, LLC, the parent company of Transact Campus Inc., for a net purchase price of $1,607.0 million. Of the
acquired amortizable intangible assets, $656.0 million of customer relationships were recorded. The fair value for cus-
tomer relationships is determined as of the acquisition date using the excess earnings method. Under this methodology,
the fair value is determined by management based on the estimated future after-tax cash flows arising from the acquired
customer relationships over their estimated useful lives after considering customer attrition and contributory asset
charges. The assumptions that have the most significant effect on the fair value calculations are the customer attrition
rates, projected customer revenue growth rates, margins, contributory asset charges, and discount rates.
The principal considerations for our determination that performing procedures relating to the valuation of customer
relationships acquired in the acquisition of RCP Vega Holdings, LLC is a critical audit matter are (i) the significant judg-
ment by management when developing the fair value estimate of the customer relationships acquired; (ii) a high
degree of auditor judgment, subjectivity, and effort in performing procedures and evaluating management’s signifi-
cant assumptions related to the customer attrition rate, projected customer revenue growth rates, margins, contribu-
tory asset charges, and discount rate; and (iii) the audit effort involved the use of professionals with specialized skill
and knowledge.

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Addressing the matter involved performing procedures and evaluating audit evidence in connection with forming
our overall opinion on the consolidated financial statements. These procedures included testing the effectiveness of
controls relating to the acquisition accounting, including controls over management’s valuation of the customer rela-
tionships acquired. These procedures also included, among others (i) reading the purchase agreement; (ii) testing
management’s process for developing the fair value estimate of the customer relationships acquired; (iii) evaluating
the appropriateness of the excess earnings method used by management; (iv) testing the completeness and accu-
racy of the underlying data used in the excess earnings method; and (v) evaluating the reasonableness of the signifi-
cant assumptions used by management related to the customer attrition rate, projected customer revenue growth
rates, margins, contributory asset charges, and discount rate. Evaluating management’s assumptions related to pro-
jected customer revenue growth rates and margins involved considering (i) the current and past performance of the
RCP Vega Holdings, LLC business; (ii) the consistency with external market and industry data; and (iii) whether the
assumptions were consistent with evidence obtained in other areas of the audit. Professionals with specialized skill
and knowledge were used to assist in evaluating (i) the appropriateness of the excess earnings method and
(ii) the reasonableness of the customer attrition rate, contributory asset charges, and discount rate assumptions.
/s/ PricewaterhouseCoopers LLP
Tampa, Florida
yǉƹɨʍƃɨʰԝїљӗїѕїњ
We have served as the Company’s auditor since 2002.

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ROPER TECHNOLOGIES, INC.
CONSOLIDATED BALANCE SHEETS
(in millions, except per share data)
2024
2023
Assets
Cash and cash equivalents
Ԥіѝѝӝї
$ 214.3
Accounts receivable, net
ѝѝњӝі
ѝїўӝў
Inventories, net
іїѕӝѝ
ііѝӝћ
Income taxes receivable
25.6
47.7
Unbilled receivables
127.3
106.4
Prepaid expenses and other current assets
195.7
164.5
Total current assets
1,542.7
іӗљѝіӝљ
Property, plant and equipment, net
149.7
119.6
Goodwill
19,312.9
іќӗііѝӝѝ
Other intangible assets, net
9,059.6
ѝӗїіїӝі
Deferred taxes
54.1
32.2
Equity investments
772.3
795.7
Other assets
443.4
407.7
Total assets
$31,334.7
Ԥїѝӗіћќӝњ
Liabilities and Stockholders’ Equity
Accounts payable
Ԥіљѝӝі
$ 143.0
Accrued compensation
їѝўӝѕ
250.0
Deferred revenue
1,737.4
іӗњѝјӝѝ
Other accrued liabilities
546.2
446.5
Income taxes payable
ћѝӝљ
40.4
Current portion of long-term debt, net
1,043.1
499.5
Total current liabilities
јӗѝјїӝї
2,963.2
Long-term debt, net of current portion
6,579.9
њӗѝјѕӝћ
Deferred taxes
1,630.6
1,513.1
Other liabilities
424.4
љіњӝѝ
Total liabilities
12,467.1
10,722.7
Commitments and contingencies (Note 13)
Stockholders’ equity:
Preferred stock, $0.01 par value per share; 1.0 shares authorized; none outstanding
—
—
:ɁȴȴɁȶɰɽɁƺȟӗԤѕӝѕіɥƃɨʤƃȢʍǉɥǉɨɰȃƃɨǉӢјњѕӝѕɰȃƃɨǉɰƃʍɽȃɁɨȈ˃ǉǁӢіѕѝӝўɰȃƃɨǉɰ
ȈɰɰʍǉǁƃȶǁіѕќӝјɁʍɽɰɽƃȶǁȈȶǼƃɽAǉƺǉȴƹǉɨјіӗїѕїљƃȶǁіѕѝӝћɰȃƃɨǉɰȈɰɰʍǉǁƃȶǁ
106.9 outstanding at December 31, 2023
1.1
1.1
Additional paid-in capital
3,014.6
2,767.0
Retained earnings
16,034.9
іљӗѝіћӝј
Accumulated other comprehensive loss
(166.5)
ӯіїїӝѝ)
Treasury stock, 1.6 shares at December 31, 2024 and 1.7 shares at December 31, 2023
(16.5)
ӯіћӝѝ)
Total stockholders’ equity
іѝӗѝћќӝћ
іќӗљљљӝѝ
Total liabilities and stockholders’ equity
$31,334.7
Ԥїѝӗіћќӝњ
See accompanying notes to Consolidated Financial Statements.

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ROPER TECHNOLOGIES, INC.
CONSOLIDATED STATEMENTS OF EARNINGS
(Dollar and share amounts in millions, except per share data)
Year ended December 31,
2024
2023
2022
Net revenues
$7,039.2
Ԥћӗіќќӝѝ
Ԥњӗјќіӝѝ
Cost of sales
2,160.9
іӗѝќѕӝћ
1,619.0
{ɨɁɰɰɥɨɁˎɽ
љӗѝќѝӝј
4,307.2
јӗќњїӝѝ
Selling, general and administrative expenses
їӗѝѝіӝњ
2,562.0
їӗїїѝӝј
Income from operations
іӗўўћӝѝ
іӗўўћӝѝ
1,745.2
1,524.5
Interest expense, net
259.2
164.7
192.4
Equity investments gain, net
(234.6)
(165.4)
—
Other expense, net
5.0
їӝѝ
50.1
Earnings before income taxes
1,967.2
1,743.1
іӗїѝїӝѕ
Income taxes
417.9
374.7
296.4
Net earnings from continuing operations
1,549.3
іӗјћѝӝљ
ўѝњӝћ
Earnings (loss) from discontinued operations, net of tax
—
(4.1)
їѕїӝѝ
Gain on disposition of discontinued operations, net of tax
—
19.9
3,356.3
Net earnings from discontinued operations
—
іњӝѝ
3,559.1
Net earnings
ԤԞіӗњљўӝј
ԤԞіӗјѝљӝї
$4,544.7
Net earnings per share from continuing operations:
Basic
ԤԞіљӝљќ
ԤԞіїӝѝј
$ 9.31
Diluted
ԤԞіљӝјњ
ԤԞіїӝќљ
$ 9.23
Net earnings per share from discontinued operations:
Basic
$ —
$ 0.15
$ 33.61
Diluted
$ —
$ 0.15
$ 33.32
Net earnings per share:
Basic
$ 14.47
ԤԞіїӝўѝ
$ 42.92
Diluted
$ 14.35
ԤԞіїӝѝў
$ 42.55
Weighted average common shares outstanding:
Basic
107.1
106.6
105.9
Diluted
іѕѝӝѕ
107.4
іѕћӝѝ
See accompanying notes to Consolidated Financial Statements.
ROPER TECHNOLOGIES, INC.
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(in millions)
Year ended December 31,
2024
2023
2022
Net earnings
ԤԞԞіӗњљўӝј
ԤԞіӗјѝљӝї
$ 4,544.7
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments(1)
(43.7)
64.2
(3.9)
Total other comprehensive income (loss), net of tax
(43.7)
64.2
(3.9)
Comprehensive income
ԤԞіӗњѕњӝћ
ԤԞіӗљљѝӝљ
Ԥљӗњљѕӝѝ
(1) In connection with the divestiture of a majority stake in Indicor, we reclassified $142.6 of foreign currency translation adjustments to “Gain on
disposition of discontinued operations, net of tax” during the year ended December 31, 2022.
See accompanying notes to Consolidated Financial Statements.

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ROPER TECHNOLOGIES, INC.
CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY
(in millions, except per share data)
Common stock
Additional
paid-in
Retained
Accumulated
other
comprehensive
Treasury
Total
stockholders’
Shares Amount
capital
earnings
loss
stock
equity
Balances at December 31, 2021
105.5
$1.1
Ԥїӗјѕќӝѝ $ 9,455.6
Ԥӯіѝјӝі)
Ԥԛӯіќӝћ)
Ԥііӗњћјӝѝ
Net earnings
—
—
—
4,544.7
—
—
4,544.7
Stock option exercises
0.5
—
110.0
—
—
—
110.0
Cash settlement of share-based
awards in connection with
disposition of discontinued
operations
—
—
(11.1)
—
—
—
(11.1)
Treasury stock sold
—
—
13.9
—
—
0.4
14.3
Currency translation adjustments,
ȈȶƺȢʍǁȈȶǼɽƃʯƹǉȶǉˎɽɁǹԤљіӝў
—
—
—
—
(3.9)
—
(3.9)
Stock-based compensation
—
—
131.4
—
—
—
131.4
Restricted stock activity
0.1
—
ӯљіӝѝ)
—
—
—
ӯљіӝѝӰ
Dividends declared
($2.54 per share)
—
—
—
(269.6)
—
—
(269.6)
Balances at December 31, 2022
106.1
$1.1
$ 2,510.2 Ԥԛіјӗќјѕӝќ
Ԥӯіѝќӝѕ)
Ԥԛԛӯіќӝї)
Ԥԛіћӗѕјќӝѝ
Net earnings
—
—
—
іӗјѝљӝї
—
—
іӗјѝљӝї
Stock option exercises
0.6
—
146.5
—
—
—
146.5
Treasury stock sold
—
—
15.1
—
—
0.4
15.5
Currency translation adjustments,
including tax provision of $10.3
—
—
—
—
64.2
—
64.2
Stock-based compensation
—
—
126.5
—
—
—
126.5
Restricted stock activity
0.2
—
(31.3)
—
—
—
(31.3)
Dividends declared
ӯԤїӝѝѕɥǉɨɰȃƃɨǉӰ
—
—
—
ӯїўѝӝћ)
—
—
ӯїўѝӝћӰ
Balances at December 31, 2023
106.9
$1.1
$2,767.0 Ԥԛԛԛіљӗѝіћӝј
Ԥԛӯіїїӝѝ)
ԤԞӯіћӝѝ)
ԤԞіќӗљљљӝѝ
Net earnings
—
—
—
1,549.3
—
—
1,549.3
Stock option exercises
0.4
—
125.7
—
—
—
125.7
Treasury stock sold
—
—
іѝӝї
—
—
0.3
іѝӝњ
Currency translation adjustments,
ȈȶƺȢʍǁȈȶǼɽƃʯƹǉȶǉˎɽɁǹԤіјӝћ
—
—
—
—
(43.7)
—
(43.7)
Stock-based compensation
—
—
146.7
—
—
—
146.7
Restricted stock activity
—
—
(43.0)
—
—
—
(43.0)
Dividends declared
ӯԤјӝѕѝɥǉɨɰȃƃɨǉӰ
—
—
—
(330.7)
—
—
(330.7)
Balances at December 31, 2024
107.3
$1.1
Ԥԛјӗѕіљӝћ $16,034.9
Ԥԛӯіћћӝњ)
Ԥԛӯіћӝњ)
Ԥԛіѝӗѝћќӝћ
See accompanying notes to Consolidated Financial Statements.

ĄÝĀKĄěK:ÇÝ¸Ý{KČӓ2024 ANNUAL REPORT
38
ROPER TECHNOLOGIES, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in millions)
Year ended December 31,
2024
2023
2022
:ƃɰȃːɁʥɰǹɨɁȴɁɥǉɨƃɽȈȶǼƃƺɽȈʤȈɽȈǉɰӖ
Net earnings from continuing operations
$ 1,549.3
Ԥіӗјћѝӝљ Ԥўѝњӝћ
Adjustments to reconcile net earnings from continuing operations to
ƺƃɰȃːɁʥɰǹɨɁȴɁɥǉɨƃɽȈȶǼƃƺɽȈʤȈɽȈǉɰӖ
Depreciation and amortization of property, plant and equipment
37.1
35.4
37.3
Amortization of intangible assets
775.7
ќіўӝѝ
ћіїӝѝ
ȴɁɨɽȈ˃ƃɽȈɁȶɁǹǁǉǹǉɨɨǉǁˎȶƃȶƺȈȶǼƺɁɰɽɰ
ўӝѝ
9.9
ііӝѝ
Non-cash stock compensation
145.9
123.5
ііѝӝњ
Equity investments gain, net
(234.6)
(165.4)
—
Income tax provision
417.9
374.7
296.4
Changes in operating assets and liabilities, net of acquired businesses:
Accounts receivable
14.4
(50.2)
2.5
Unbilled receivables
ӯіѝӝњ)
(7.5)
(11.1)
Inventories
(1.9)
(6.6)
(43.1)
Prepaid expenses and other current assets
(19.5)
(4.3)
ӯіїӝѝ)
Accounts payable
(13.0)
іѝӝї
21.3
Other accrued liabilities
109.3
(1.0)
(7.6)
Deferred revenue
110.7
93.9
52.9
Cash taxes paid for gain on disposal of businesses
—
(32.5)
ӯўњјӝѝ)
Cash income taxes paid, excluding tax associated with gain on
disposal of businesses
ӯљѝјӝѝ)
(423.4)
ӯљўѝӝў)
Other, net
(5.6)
(15.5)
(5.2)
Cash provided by operating activities from continuing operations
2,393.2
2,037.4
606.6
Cash provided by (used in) operating activities from discontinued
operations
—
(2.3)
іїѝӝѕ
Cash provided by operating activities
2,393.2
2,035.1
734.6
:ƃɰȃːɁʥɰǹɨɁȴӯʍɰǉǁȈȶӰȈȶʤǉɰɽȈȶǼƃƺɽȈʤȈɽȈǉɰӖ
Acquisitions of businesses, net of cash acquired
(3,612.9)
(2,052.7)
ӯљӗїѝѕӝі)
Capital expenditures
(66.0)
ӯћѝӝѕ)
(40.1)
Capitalized software expenditures
(45.0)
(40.0)
(30.2)
Distributions from equity investment
іѕӝѝ
32.5
—
Proceeds from sale of equity investment
245.6
—
—
Other, net
(1.0)
(0.1)
(1.4)
Cash used in investing activities from continuing operations
ӯјӗљћѝӝњ)
ӯїӗіїѝӝј)
ӯљӗјњіӝѝ)
Cash provided by disposition of discontinued operations
—
2.0
њӗњћіӝѝ
Cash used in investing activities from discontinued operations
—
—
(0.5)
Cash provided by (used in) investing activities
ӯјӗљћѝӝњ)
(2,126.3)
1,209.5
:ƃɰȃːɁʥɰǹɨɁȴӯʍɰǉǁȈȶӰˎȶƃȶƺȈȶǼƃƺɽȈʤȈɽȈǉɰӖ
Proceeds from senior notes
2,000.0
—
—
Payments of senior notes
(500.0)
(700.0)
ӯѝѕѕӝѕ)
Borrowings (payments) under revolving line of credit, net
(235.0)
360.0
(470.0)
Debt issuance costs
(24.6)
—
(3.9)
Cash dividends to stockholders
(321.9)
(290.2)
(262.3)
Treasury stock sales
іѝӝњ
15.5
14.3
Proceeds from stock-based compensation, net
ѝѝӝћ
115.2
ћѝӝї
Other, net
43.9
—
(0.2)
Cash provided by (used in) financing activities from continuing operations
1,069.5
(499.5)
(1,453.9)
:ƃɰȃʍɰǉǁȈȶˎȶƃȶƺȈȶǼƃƺɽȈʤȈɽȈǉɰǹɨɁȴǁȈɰƺɁȶɽȈȶʍǉǁɁɥǉɨƃɽȈɁȶɰ
—
—
(11.4)
Cash provided by (used in) financing activities
1,069.5
(499.5)
(1,465.3)
(Continued)

ĄÝĀKĄěK:ÇÝ¸Ý{KČӓ2024 ANNUAL REPORT
39
ROPER TECHNOLOGIES, INC.
:ÝÇČÝ¸AěKAČěěKÃKÇěČÝy:Čy¸ÝŚČӱ:ÝÇěÇĩKA
(in millions)
Year ended December 31,
2024
2023
2022
Effect of exchange rate changes on cash
(20.3)
12.2
(37.5)
Net increase (decrease) in cash and cash equivalents
(26.1)
ӯњќѝӝњ)
441.3
Cash and cash equivalents, beginning of year
214.3
ќўїӝѝ
351.5
Cash and cash equivalents, end of year
Ԥіѝѝӝї
$ 214.3
Ԥќўїӝѝ
Supplemental disclosures:
Cash paid for interest
$ 239.9
$ 201.9
$ 206.5
Non-cash investing activities:
Net assets of businesses acquired:
Fair value of assets, including goodwill
$3,935.4
$ 2,235.1
Ԥљӗѝўіӝѝ
Liabilities assumed
(322.5)
ӯіѝїӝљ)
(611.7)
Cash paid, net of cash acquired
Ԥԛјӗћіїӝў
$2,052.7
Ԥљӗїѝѕӝі
See accompanying notes to Consolidated Financial Statements.

ĄÝĀKĄěK:ÇÝ¸Ý{KČӓ2024 ANNUAL REPORT
40
ROPER TECHNOLOGIES, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
ťǉƃɨɰǉȶǁǉǁAǉƺǉȴƹǉɨԝјіӗїѕїљӗїѕїјӗƃȶǁїѕїї
(Dollar and share amounts in millions unless specified, except per share data)
ӭіӮČĩÃÃĄťÝy::ÝĩÇěÇ{ĀÝ¸:KČ
Basis of Presentation—These financial statements present the consolidated information of Roper Technologies, Inc.
and its subsidiaries (“Roper,” the “Company,” “we,” “our,” or “us”). All significant intercompany accounts and transac-
tions have been eliminated. Certain prior period amounts have been reclassified to conform to current period
presentation.
Nature of the Business—Roper is a diversified technology company. The Company operates market leading busi-
nesses that design and develop vertical software and technology enabled products for a variety of defensible niche
markets.
Discontinued Operations—In November 2022, the Company completed the divestiture of a majority equity stake in
its industrial businesses, including its entire historical Process Technologies reportable segment and the industrial
businesses within its historical Measurement & Analytical Solutions reportable segment, to Clayton, Dubilier & Rice,
LLC (“CD&R”). The businesses included in this transaction were Alpha, AMOT, CCC, Cornell, Dynisco, FTI, Hansen,
Hardy, Logitech, Metrix, PAC, Roper Pump, Struers, Technolog, Uson, and Viatran (collectively “Indicor”). Following
the sale of the majority stake, the Company retained a minority equity interest in Indicor. This transaction is referred
to herein as the “Indicor Transaction.”
During 2021, the Company signed definitive agreements to divest its TransCore, Zetec, and CIVCO Radiotherapy
businesses (“2021 Divestitures”). Roper completed the 2021 Divestitures by March 2022.
The financial results of Indicor and the 2021 Divestitures are reported as discontinued operations for all periods
presented. Unless otherwise noted, discussion within these Notes to Consolidated Financial Statements relates to
continuing operations. Refer to Note 3 for further information regarding discontinued operations.
Refer to Note 10 for information regarding Roper’s minority equity interest in Indicor.
Recent Accounting Pronouncements—The Financial Accounting Standards Board (“FASB”) establishes changes to
—
accounting principles under GAAP in the form of accounting standards updates (“ASUs”) to the FASB’s Accounting
Čɽƃȶǁƃɨǁɰ:ɁǁȈǹȈƺƃɽȈɁȶӯԄČ:ԅӰӝԝěȃǉ:ɁȴɥƃȶʰƺɁȶɰȈǁǉɨɰɽȃǉƃɥɥȢȈƺƃƹȈȢȈɽʰƃȶǁȈȴɥƃƺɽɁǹƃȢȢČĩɰӝԝȶʰɨǉƺǉȶɽČĩɰȶɁɽ
listed below were assessed and either determined to be not applicable or are expected to have an immaterial
impact on the Company’s Consolidated Financial Statements.
Recently Adopted Accounting Pronouncements
ȶÇɁʤǉȴƹǉɨїѕїјӗɽȃǉyČ9ȈɰɰʍǉǁƺƺɁʍȶɽȈȶǼČɽƃȶǁƃɨǁɰĩɥǁƃɽǉÇɁӝїѕїјӸѕќӗԄČǉǼȴǉȶɽĄǉɥɁɨɽȈȶǼӯěɁɥȈƺїѝѕӰӖ
Improvements to Reportable Segment Disclosures” (ASU 2023-07), which expands reportable segment disclosure
requirements, primarily through enhanced disclosures about significant segment expenses, as well as the Company’s
chief operating decision maker. This guidance is effective for annual periods beginning after December 15, 2023, and
interim periods within fiscal years beginning after December 15, 2024. The Company adopted this update for the
year ended December 31, 2024. Refer to Note 14 for the inclusion of the new required disclosures.
Recently Released Accounting Pronouncements
In December 2023, the FASB issued Accounting Standards Update No. 2023-09, “Income Taxes (Topic 740):
Improvements to Income Tax Disclosures” (ASU 2023-09), which expands income tax disclosure requirements,
including disaggregation of rate reconciliation table categories, disaggregation of earnings before income taxes and
income tax expense information, and disaggregation of income taxes paid information, among other changes. This
guidance is effective for annual periods beginning after December 15, 2024. This ASU will likely result in additional
disclosures. We are currently evaluating the provisions of this ASU.
In November 2024, the FASB issued Accounting Standards Update No. 2024-03, “Income Statement—Reporting
Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement
Expenses” (ASU 2024-03), which requires the disclosure of additional information about specific categories of costs and
expenses in the notes to consolidated financial statements. This guidance is effective for annual periods beginning after
December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted.
This ASU will likely result in additional disclosures. We are currently evaluating the provisions of this ASU.
Significant Accounting Policies
Cash and Cash Equivalents—Roper considers highly liquid financial instruments with remaining maturities at
acquisition of three months or less to be cash equivalents. Roper had $0.9 and $0.4 of cash equivalents at
AǉƺǉȴƹǉɨԝјіӗїѕїљƃȶǁїѕїјӗɨǉɰɥǉƺɽȈʤǉȢʰӝ

ĄÝĀKĄěK:ÇÝ¸Ý{KČӓ2024 ANNUAL REPORT
41
Contingencies—Management continually assesses the probability of any adverse judgments or outcomes to its
ɥɁɽǉȶɽȈƃȢƺɁȶɽȈȶǼǉȶƺȈǉɰӝԝAȈɰƺȢɁɰʍɨǉɁǹɽȃǉƺɁȶɽȈȶǼǉȶƺʰȈɰȴƃǁǉȈǹɽȃǉɨǉȈɰƃɽȢǉƃɰɽƃɨǉƃɰɁȶƃƹȢǉɥɁɰɰȈƹȈȢȈɽʰɽȃƃɽƃȢɁɰɰ
ɁɨƃȶƃǁǁȈɽȈɁȶƃȢȢɁɰɰȴƃʰȃƃʤǉƹǉǉȶȈȶƺʍɨɨǉǁӝԝȶɽȃǉƃɰɰǉɰɰȴǉȶɽɁǹƺɁȶɽȈȶǼǉȶƺȈǉɰƃɰɁǹAǉƺǉȴƹǉɨԝјіӗїѕїљӗȴƃȶƃǼǉ-
ment concluded that there were no matters for which there was a reasonable possibility of a material loss.
Earnings per Share—Basic earnings per share was calculated using net earnings and the weighted average num-
ber of shares of common stock outstanding during the respective year. Diluted earnings per share was calculated
using net earnings and the weighted average number of shares of common stock and potential common stock
outstanding during the respective year. Potentially dilutive common stock consisted of stock options and restricted
stock awards.
The effects of potential common stock were determined using the treasury stock method:
Year ended December 31,
2024
2023
2022
Basic weighted average shares outstanding
107.1
106.6
105.9
Effect of potential common stock:
Common stock awards
0.9
ѕӝѝ
0.9
Diluted weighted average shares outstanding
іѕѝӝѕ
107.4
іѕћӝѝ
yɁɨɽȃǉʰǉƃɨɰǉȶǁǉǁAǉƺǉȴƹǉɨԝјіӗїѕїљӗїѕїјӗƃȶǁїѕїїӗɽȃǉɨǉʥǉɨǉѕӝљіўӗѕӝќїћӗƃȶǁѕӝѝјљɰɽɁƺȟӸƹƃɰǉǁƃʥƃɨǁɰɁʍɽ-
standing, respectively, that were not included in the determination of diluted earnings per share because to do so
would have been antidilutive.
Equity Investments—ɰɁǹAǉƺǉȴƹǉɨԝјіӗїѕїљƃȶǁїѕїјӗɽȃǉ:ɁȴɥƃȶʰȃǉȢǁƃљњӝњՐƃȶǁљќӝјՐȴȈȶɁɨȈɽʰǉɧʍȈɽʰ
interest in Indicor Equity, LLC, respectively. This equity interest provides us with the ability to exercise significant
influence, but not control, over the investee. We elected to apply the fair value option as we believe this is the most
reasonable method to value this equity investment. The fair value of Roper’s equity investment in Indicor is esti-
mated on a quarterly basis and the change in fair value is reported as a component of “Equity investments gain, net”
in our Consolidated Statements of Earnings. See Note 10 for additional information on this investment.
ȶʍǼʍɰɽїѕїјӗĄɁɥǉɨƃƺɧʍȈɨǉǁƃȶіѝӝїՐȢȈȴȈɽǉǁɥƃɨɽȶǉɨɰȃȈɥȴȈȶɁɨȈɽʰȈȶɽǉɨǉɰɽȈȶ:ĩȢɽȈȴƃɽǉɁȢǁȈȶǼɰӗ¸ӝĀӝӗɽȃǉɥƃɨǉȶɽ
entity of Certinia Inc. (“Certinia”), for $125.0. In November 2024, Roper completed the sale of this equity investment in
:ǉɨɽȈȶȈƃǹɁɨƺƃɰȃɥɨɁƺǉǉǁɰɁǹԤїљњӝћӝěȃǉɰƃȢǉɨǉɰʍȢɽǉǁȈȶƃɥɨǉɽƃʯǼƃȈȶɁǹԝԤіјњӝћӗʥȃȈƺȃȈɰɨǉɥɁɨɽǉǁʥȈɽȃȈȶԄKɧʍȈɽʰȈȶʤǉɰɽ-
ments gain, net” in our Consolidated Statement of Earnings. In addition, we recognized income tax expense of $30.2 in
connection with the sale, which is included within “Income taxes” in our Consolidated Statement of Earnings.
Prior to the sale of our equity investment in Certinia, our equity interest provided us with the ability to exercise
significant influence, but not control, over the investee. This equity investment was accounted for under the equity
method of accounting whereby our proportionate share of earnings or loss associated with the investment was
reported as a component of “Equity investments gain, net” in our Consolidated Statements of Earnings with a corre-
sponding change in the balance of the equity investment. Our proportionate share of loss associated with the
ȈȶʤǉɰɽȴǉȶɽȈȶ:ǉɨɽȈȶȈƃʥƃɰԤўӝѝƃȶǁԤњӝїǹɁɨɽȃǉʰǉƃɨɰǉȶǁǉǁAǉƺǉȴƹǉɨԝјіӗїѕїљƃȶǁїѕїјӗɨǉɰɥǉƺɽȈʤǉȢʰӝěȃǉƹƃȢƃȶƺǉ
of the equity investment in Certinia, reported as a component of “Equity investments” in our Consolidated Balance
ČȃǉǉɽӗʥƃɰԤііўӝѝƃɰɁǹAǉƺǉȴƹǉɨјіӗїѕїјӝ
Estimates—The preparation of financial statements in conformity with GAAP requires management to make esti
—
-
mates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent
assets and liabilities. Actual results could differ from those estimates.
Foreign Currency Translation and Transactions—Assets and liabilities of subsidiaries whose functional currency is
not the U.S. dollar were translated at the exchange rate in effect at the balance sheet date, and revenues and
expenses were translated at average exchange rates for the period in which those entities were included in Roper’s
ǹȈȶƃȶƺȈƃȢɨǉɰʍȢɽɰӝԝěɨƃȶɰȢƃɽȈɁȶƃǁȚʍɰɽȴǉȶɽɰƃɨǉɨǉǹȢǉƺɽǉǁʥȈɽȃȈȶɁɽȃǉɨƺɁȴɥɨǉȃǉȶɰȈʤǉȈȶƺɁȴǉӝԝyɁɨǉȈǼȶƺʍɨɨǉȶƺʰɽɨƃȶɰ-
action gains and losses are recorded in our Consolidated Statements of Earnings within “Other expense, net.” Foreign
currency transaction gains/(losses) were not material for any periods presented.
Goodwill and Other Intangibles—Roper accounts for goodwill in a purchase business combination as the excess of
the cost over the estimated fair value of net assets acquired. Business combinations can also result in the recogni-
tion of other intangible assets. Amortization of intangible assets, if applicable, occurs over their estimated useful
lives. Goodwill, which is not amortized, is tested for impairment on an annual basis (or an interim basis if an event
occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its
carrying value). When testing goodwill for impairment, the Company has the option to first assess qualitative factors
to determine whether the existence of events or circumstances leads to a determination that it is more likely than

ĄÝĀKĄěK:ÇÝ¸Ý{KČӓ2024 ANNUAL REPORT
42
not that the estimated fair value of a reporting unit is less than its carrying amount. If the Company elects to per-
form a qualitative assessment and determines that an impairment is more likely than not, then performance of the
quantitative impairment test is required. The quantitative assessment utilizes the equal weighting of both an income
approach (discounted cash flow) and a market approach (consisting of a comparable public company earnings mul-
ɽȈɥȢǉɰȴǉɽȃɁǁɁȢɁǼʰӰɽɁǉɰɽȈȴƃɽǉɽȃǉǹƃȈɨʤƃȢʍǉɁǹƃɨǉɥɁɨɽȈȶǼʍȶȈɽӝԝěɁǁǉɽǉɨȴȈȶǉɽȃǉɨǉƃɰɁȶƃƹȢǉȶǉɰɰɁǹɽȃǉǉɰɽȈȴƃɽǉǁ
fair values, the Company reviews the assumptions to ensure that neither the income approach nor the market
ƃɥɥɨɁƃƺȃɥɨɁʤȈǁǉɰɰȈǼȶȈǹȈƺƃȶɽȢʰǁȈǹǹǉɨǉȶɽʤƃȢʍƃɽȈɁȶɰӝԝǹɽȃǉǉɰɽȈȴƃɽǉǁǹƃȈɨʤƃȢʍǉǉʯƺǉǉǁɰɽȃǉƺƃɨɨʰȈȶǼʤƃȢʍǉӗȶɁǹʍɨɽȃǉɨ
ʥɁɨȟȈɰɨǉɧʍȈɨǉǁƃȶǁȶɁȈȴɥƃȈɨȴǉȶɽȢɁɰɰȈɰɨǉƺɁǼȶȈ˃ǉǁӝԝǹɽȃǉƺƃɨɨʰȈȶǼʤƃȢʍǉǉʯƺǉǉǁɰɽȃǉǉɰɽȈȴƃɽǉǁǹƃȈɨʤƃȢʍǉӗƃȶɁȶӸ
cash impairment loss is recognized in the amount of that excess.
When performing the quantitative assessment, key assumptions used in the income and market approaches are
ʍɥǁƃɽǉǁʥȃǉȶɽȃǉƃȶƃȢʰɰȈɰȈɰɥǉɨǹɁɨȴǉǁǹɁɨǉƃƺȃɨǉɥɁɨɽȈȶǼʍȶȈɽӝԝěȃǉƃɰɰʍȴɥɽȈɁȶɰɽȃƃɽȃƃʤǉɽȃǉȴɁɰɽɰȈǼȶȈǹȈƺƃȶɽ
effect on the fair value calculations are the projected revenue growth rates, future operating margins, discount rates,
ɽǉɨȴȈȶƃȢʤƃȢʍǉɰӗƃȶǁǉƃɨȶȈȶǼɰȴʍȢɽȈɥȢǉɰӝԝŚȃȈȢǉɽȃǉ:ɁȴɥƃȶʰʍɰǉɰɨǉƃɰɁȶƃƹȢǉƃȶǁɽȈȴǉȢʰȈȶǹɁɨȴƃɽȈɁȶɽɁɥɨǉɥƃɨǉȈɽɰ
discounted cash flow analysis, actual future cash flows or market conditions could differ significantly and could
result in future impairment charges related to recorded goodwill balances.
As of the annual impairment test, Roper has 23 reporting units with individual goodwill amounts ranging from $17.5
ɽɁԤјӗјћјӝќӝԝȶїѕїљӗɽȃǉ:ɁȴɥƃȶʰɥǉɨǹɁɨȴǉǁȈɽɰƃȶȶʍƃȢȈȴɥƃȈɨȴǉȶɽɽǉɰɽȈȶɽȃǉǹɁʍɨɽȃɧʍƃɨɽǉɨǹɁɨƃȢȢɨǉɥɁɨɽȈȶǼʍȶȈɽɰӝ
The Company conducted its analysis qualitatively and assessed whether it was more likely than not that the respec-
tive fair values of these reporting units were less than their carrying amounts. The Company determined that impair-
ment of goodwill was not likely in any of its reporting units and thus was not required to perform a quantitative
assessment for these reporting units.
Recently acquired reporting units generally represent a higher inherent risk of impairment, which typically decreases
as the businesses are integrated into the enterprise. Negative industry or economic trends, disruptions to its busi-
ness, actual results significantly below expected results, unexpected significant changes or planned changes in the
use of the assets, divestitures, and market capitalization declines may have a negative effect on the fair value of
Roper’s reporting units.
The following events or circumstances, although not comprehensive, would be considered to determine whether
interim testing of goodwill would be required:
• a significant adverse change in legal factors or in the business climate;
• an adverse action or assessment by a regulator;
• unanticipated competition;
• a loss of key personnel;
• a more-likely-than-not expectation that a reporting unit or a significant portion of a reporting unit will be sold
or otherwise disposed of;
• the testing for recoverability of a significant asset group within a reporting unit; and
• recognition of a goodwill impairment loss in the financial statements of a subsidiary that is a component of a
reporting unit.
Trade names that are determined to have indefinite useful economic lives are not amortized, but are separately tested
for impairment during the fourth quarter of the fiscal year or on an interim basis if an event occurs that indicates the
ǹƃȈɨʤƃȢʍǉȈɰȴɁɨǉȢȈȟǉȢʰɽȃƃȶȶɁɽƹǉȢɁʥɽȃǉƺƃɨɨʰȈȶǼʤƃȢʍǉӝԝĄɁɥǉɨǹȈɨɰɽɧʍƃȢȈɽƃɽȈʤǉȢʰƃɰɰǉɰɰǉɰʥȃǉɽȃǉɨɽȃǉǉʯȈɰɽǉȶƺǉɁǹ
events or circumstances leads to a determination that it is more likely than not that the estimated fair value of an indefinite-
lived trade name is less than its carrying amount. If necessary, Roper conducts a quantitative assessment using the
ɨǉȢȈǉǹӸǹɨɁȴӸɨɁʰƃȢɽʰȴǉɽȃɁǁӝԝěȃȈɰȴǉɽȃɁǁɁȢɁǼʰƃɰɰʍȴǉɰɽȃƃɽӗȈȶȢȈǉʍɁǹɁʥȶǉɨɰȃȈɥӗƃɽȃȈɨǁɥƃɨɽʰʥɁʍȢǁƹǉʥȈȢȢȈȶǼɽɁɥƃʰ
ƃɨɁʰƃȢɽʰȈȶɁɨǁǉɨɽɁǉʯɥȢɁȈɽɽȃǉɨǉȢƃɽǉǁƹǉȶǉǹȈɽɰɁǹɽȃǉɰǉƃɰɰǉɽɰӝԝěɁɽȃǉǉʯɽǉȶɽɽȃǉ:ɁȴɥƃȶʰǁǉɽǉɨȴȈȶǉɰƃǹƃȈɨʤƃȢʍǉӗɽȃǉ
inputs used represent a Level 3 fair value measurement in the FASB fair value hierarchy given that the inputs are unob-
servable. The assumptions that have the most significant effect on the fair value calculations are the royalty rates, pro-
Țǉƺɽǉǁ ɨǉʤǉȶʍǉ ǼɨɁʥɽȃ ɨƃɽǉɰӗ ǁȈɰƺɁʍȶɽ ɨƃɽǉɰӗ ƃȶǁ ɽǉɨȴȈȶƃȢ ʤƃȢʍǉɰӝԝ Kƃƺȃ ɨɁʰƃȢɽʰ ɨƃɽǉ Ȉɰ ǁǉɽǉɨȴȈȶǉǁ ƹƃɰǉǁ Ɂȶ ɽȃǉ
ɥɨɁǹȈɽƃƹȈȢȈɽʰɁǹɽȃǉɽɨƃǁǉȶƃȴǉɽɁʥȃȈƺȃȈɽɨǉȢƃɽǉɰƃȶǁɁƹɰǉɨʤǉǁȴƃɨȟǉɽɨɁʰƃȢɽʰɨƃɽǉɰӝԝĄǉʤǉȶʍǉǼɨɁʥɽȃɨƃɽǉɰƃɨǉǁǉɽǉɨ-
mined after considering current and future economic conditions, recent sales trends, discussions with customers,
planned timing of new product launches, or other variables. Trade names resulting from recent acquisitions generally
represent the highest risk of impairment, which typically decreases as the businesses are integrated into Roper.
The assessment of fair value for impairment purposes requires significant judgments to be made by manage-
ȴǉȶɽӝԝȢɽȃɁʍǼȃǹɁɨǉƺƃɰɽɰƃɨǉƹƃɰǉǁɁȶƃɰɰʍȴɥɽȈɁȶɰɽȃƃɽƃɨǉƺɁȶɰȈǁǉɨǉǁɨǉƃɰɁȶƃƹȢǉƹʰȴƃȶƃǼǉȴǉȶɽƃȶǁƺɁȶɰȈɰ-
tent with the plans and estimates management uses to operate the underlying businesses, there is significant
ȚʍǁǼȴǉȶɽȈȶǉɰɽȈȴƃɽȈȶǼǹʍɽʍɨǉɁɥǉɨƃɽȈȶǼɨǉɰʍȢɽɰӝԝ:ȃƃȶǼǉɰȈȶǉɰɽȈȴƃɽǉɰɁɨɽȃǉƃɥɥȢȈƺƃɽȈɁȶɁǹƃȢɽǉɨȶƃɽȈʤǉƃɰɰʍȴɥɽȈɁȶɰ
could produce significantly different results.

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The most significant identifiable intangible assets with definite useful economic lives recognized from our acquisi-
tions are customer relationships. The fair value for customer relationships is determined as of the acquisition date
using the excess earnings method. Under this methodology the fair value is determined based on the estimated
future after-tax cash flows arising from the acquired customer relationships over their estimated useful lives after
considering customer attrition and contributory asset charges. The assumptions that have the most significant
effect on the fair value calculations are the customer attrition rates, projected customer revenue growth rates, mar-
gins, contributory asset charges, and discount rates. When testing customer relationship intangible assets for poten-
tial impairment, management considers historical customer attrition rates and projected revenues and profitability
related to customers that existed at acquisition. In evaluating the amortizable life for customer relationship intangi-
ble assets, management considers historical customer attrition patterns.
Roper evaluates whether there has been an impairment of identifiable intangible assets with definite useful eco-
nomic lives, or of the remaining life of such assets, when certain indicators of impairment are present. In the event
that facts and circumstances indicate that the cost or remaining period of amortization of any asset may be impaired,
an evaluation of recoverability would be performed. If an evaluation is required, the estimated future gross, undis-
counted cash flows associated with the asset would be compared to the asset’s carrying amount to determine if a
write-down to fair value or a revision in the remaining amortization period is required.
Impairment of Long-Lived Assets—The Company determines whether there has been an impairment of long-lived
—
assets, excluding goodwill and other intangible assets, when certain indicators of impairment are present. In the
event that facts and circumstances indicate that the cost or life of any long-lived asset may be impaired, an evalua-
tion of recoverability would be performed. If an evaluation is required, the estimated future gross, undiscounted
cash flows associated with the asset would be compared to the asset’s carrying amount to determine if a write-
down to fair value or a revision to the remaining useful life is required. Future adverse changes in market conditions
or poor operating results of underlying long-lived assets could result in losses or an inability to recover the carrying
value of the long-lived assets that may not be reflected in the assets’ current carrying value, thereby possibly requir-
ing an impairment charge or acceleration of depreciation or amortization expense in the future.
Income Taxes—The Company recognizes in the Consolidated Financial Statements only those tax positions deter
—
-
mined to be “more likely than not” of being sustained upon examination based on the technical merits of the posi-
ɽȈɁȶɰӝԝȶɽǉɨǉɰɽƃȶǁɥǉȶƃȢɽȈǉɰɨǉȢƃɽǉǁɽɁʍȶɨǉƺɁǼȶȈ˃ǉǁɽƃʯƹǉȶǉǹȈɽɰƃɨǉƺȢƃɰɰȈǹȈǉǁƃɰƃƺɁȴɥɁȶǉȶɽɁǹȈȶƺɁȴǉɽƃʯǉʯɥǉȶɰǉӝ
The Company records a valuation allowance to reduce its deferred tax assets if, based on the weight of available evi-
dence, both positive and negative, for each respective tax jurisdiction, it is more likely than not that some portion or
all of such deferred tax assets will not be realized. Available evidence which is considered in determining the amount
of valuation allowance required includes, but is not limited to, the Company’s estimate of future taxable income and
any applicable tax planning strategies.
Certain assets and liabilities have different bases for financial reporting and income tax purposes. Deferred income
ɽƃʯǉɰȃƃʤǉƹǉǉȶɥɨɁʤȈǁǉǁǹɁɨɽȃǉɰǉǁȈǹǹǉɨǉȶƺǉɰƃɽɽȃǉǉȶƃƺɽǉǁɽƃʯɨƃɽǉɰǉʯɥǉƺɽǉǁɽɁƹǉɥƃȈǁӝČǉǉÇɁɽǉѝǹɁɨƃǁǁȈ-
tional information regarding income taxes.
Inventories—Inventories are valued at the lower of cost and net realizable value. Cost is determined using the first-in,
first-out method. The Company writes down its inventory for estimated obsolescence or excess inventory equal to
the difference between the cost of inventory and the estimated net realizable value based upon assumptions about
future demand and market conditions.
Product Warranties—The Company sells certain of its products to customers with a product warranty that allows
—
customers to return a defective product during a specified warranty period following the purchase in exchange for
a replacement product, repair at no cost to the customer, or the issuance of a credit to the customer. The Company
accrues its estimated exposure to warranty claims based upon current and historical product sales data, warranty
costs incurred, and any other related information known to the Company.
Property, Plant and Equipment and Depreciation and Amortization—Property, plant and equipment is stated at
cost less accumulated depreciation and amortization. Depreciation and amortization are provided for using princi-
pally the straight-line method over the estimated useful lives of the assets as follows:
Buildings
20Ӳ30 years
Machinery and other equipment
ѝӵіњʰǉƃɨɰ
Computer equipment and software
3–5 years
Leasehold improvements are depreciated over the shorter of the remaining lease term or the useful life of the asset.

ĄÝĀKĄěK:ÇÝ¸Ý{KČӓ2024 ANNUAL REPORT
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Research, Development and Engineering—Research, development and engineering (“R,D&E”) costs include salaries
and benefits, rents, supplies, and other costs related to products under development or improvements to existing prod-
ucts. R,D&E costs are expensed as incurred and are included within selling, general and administrative expenses. R,D&E
ǉʯɥǉȶɰǉɰɽɁɽƃȢǉǁԤќљѝӝіӗԤћљћӝіӗƃȶǁԤњїўӝѝǹɁɨɽȃǉʰǉƃɨɰǉȶǁǉǁAǉƺǉȴƹǉɨԝјіӗїѕїљӗїѕїјӗƃȶǁїѕїїӗɨǉɰɥǉƺɽȈʤǉȢʰӝ
Revenue Recognition—The reported results reflect the application of ASC 606 guidance. The amount of revenue
—
recognized reflects the consideration which the Company expects to be entitled to receive in exchange for these
products and/or services. To achieve this principle, the Company applies the following five steps:
• identify the contract with the customer;
• identify the performance obligations in the contract;
• determine the transaction price;
• allocate the transaction price to performance obligations in the contract; and
• recognize revenue when or as the Company satisfies a performance obligation.
Disaggregated Revenue—We disaggregate our revenues by reportable segment into four categories: (i) recurring
revenue comprised of Software-as-a-Service (“SaaS”), annual term licenses, and software maintenance; (ii) reoccurring
revenue comprised of transactional and volume-based fees facilitated through our software; (iii) non-recurring reve-
nue comprised of multi-year term and perpetual software licenses, professional services associated with software
products and hardware sold with our software licenses; and (iv) product revenue. See details in the tables below:
Year ended December 31, 2024
Revenue stream
Application
Software
Network
Software
Technology
Enabled
Products
Total
Software related
Recurring
Ԥїӗѝѝѕӝѕ
$ 1,070.1
$ 26.1
$ 3,976.2
Reoccurring
353.9
270.3
—
624.2
Non-recurring
634.4
135.2
—
769.6
Total Software Revenue
јӗѝћѝӝј
1,475.6
26.1
5,370.0
Product Revenue
—
—
1,669.2
1,669.2
Total Revenue
Ԥјӗѝћѝӝј
$ 1,475.6
$1,695.3
$7,039.2
Year ended December 31, 2023
Revenue stream
Application
Software
Network
Software
Technology
Enabled
Products
Total
Software related
Recurring
$ 2,454.3
$1,039.5
$ 17.3
$ 3,511.1
Reoccurring
іјќӝѝ
263.4
—
401.2
Non-recurring
њўљӝѝ
136.5
1.5
ќјїӝѝ
Total Software Revenue
јӗіѝћӝў
1,439.4
іѝӝѝ
4,645.1
Product Revenue
—
—
1,532.7
1,532.7
Total Revenue
Ԥјӗіѝћӝў
$ 1,439.4
Ԥԛԛіӗњњіӝњ
Ԥћӗіќќӝѝ
Year ended December 31, 2022
Revenue stream
Application
Software
Network
Software
Technology
Enabled
Products
Total
Software related
Recurring
$ 1,946.0
Ԥўѝіӝљ
$ 12.0
$ 2,939.4
Reoccurring
124.2
246.2
—
370.4
Non-recurring
569.3
150.9
1.2
721.4
Total Software Revenue
2,639.5
іӗјќѝӝњ
13.2
4,031.2
Product Revenue
—
—
1,340.6
1,340.6
Total Revenue
$ 2,639.5
Ԥіӗјќѝӝњ
Ԥіӗјњјӝѝ
Ԥњӗјќіӝѝ

ĄÝĀKĄěK:ÇÝ¸Ý{KČӓ2024 ANNUAL REPORT
45
We recognize revenue over time or at a point in time depending on our evaluation of when the customer obtains
control over the promised products or services. For software arrangements that include multiple performance obli-
gations, we allocate revenue to each performance obligation based on estimates of the price that we would charge
the customer for each promised product or service if it were sold on a standalone basis. Software licenses may be
combined with implementation/installation services as a single performance obligation if the implementation/
installation significantly modifies or customizes the functionality of the software license.
Software and related services
• Recurring—consists primarily of SaaS subscriptions and post-contract support (“PCS”) which are recognized
ratably over the contractual term, and annual term software licenses which are generally recognized at a point
in time.
• Reoccurring—consists primarily of transactional and volume-based fees which are highly reoccurring and
recognized at a point in time under a usage-based model.
• Non-recurring—consists primarily of perpetual, multi-year term software licenses, or installation/implementa-
tion services and associated hardware. Revenues from perpetual and multi-year term licenses are generally
recognized at a point in time. Revenues from software implementation projects are generally recognized over
time using the input method, utilizing the ratio of costs or labor hours incurred to total estimated costs or
labor, as the measure of performance.
Payment for software licenses is generally required within 30 to 60 days of the transfer of control. Payment for PCS
is generally required within 30 to 60 days of the commencement of the service period, which is primarily offered to
customers over a one-year timeframe. Payment terms do not contain a significant financing component. Payment
for implementation/installation services that are recognized over time is typically commensurate with milestones
defined in the contract, or billable hours incurred.
Products
Revenue from product sales is recognized when control transfers to the customer, which is generally when the prod-
uct is shipped. Non-project-based installation and repair services are performed by certain of our businesses for
which revenue is recognized upon completion.
Payment terms are generally 30 to 60 days from the transfer of control. Payment terms do not contain a significant
financing component.
Accounts receivable, net—Accounts receivable, net includes amounts billed and currently due from customers. The
amounts due are stated at their net estimated realizable value. Accounts receivable are stated net of an allowance
ǹɁɨǁɁʍƹɽǹʍȢƃƺƺɁʍȶɽɰƃȶǁɰƃȢǉɰƃȢȢɁʥƃȶƺǉɰɁǹԤїіӝћƃȶǁԤїїӝїƃɽAǉƺǉȴƹǉɨԝјіӗїѕїљƃȶǁїѕїјӗɨǉɰɥǉƺɽȈʤǉȢʰӝŚǉȴƃȟǉ
estimates of expected allowance for doubtful accounts based upon our assessment of various factors, including
historical experience, the age of the accounts receivable balances, changes to customer creditworthiness, and other
factors that may affect our ability to collect from customers.
Unbilled receivables—Our unbilled receivables include unbilled amounts typically resulting from sales under soft-
ware milestone billings associated with multi-year term license renewals and software implementations when the
input method of revenue recognition is utilized and revenue recognized exceeds the amount billed to the customer,
and right to payment is not solely due to the passage of time. Amounts may not exceed their net realizable value.
Deferred revenue—We record deferred revenue when cash payments are received or due in advance of our perfor-
mance. Our deferred revenue relates primarily to software and related services. In most cases, we recognize deferred
revenue ratably over time as the SaaS or PCS performance obligation is satisfied. The non-current portion of deferred
revenue is included in “Other liabilities” in our Consolidated Balance Sheets.
Our unbilled receivables and deferred revenue are reported in a net position on a contract-by-contract basis at the
end of each reporting period. The net balances are classified as current or non-current based on expected timing of
revenue recognition and billable milestones.
Deferred commissions—Our incremental direct costs of obtaining a contract, which consist of sales commissions
primarily for our software sales, are deferred and amortized on a straight-line basis over the period of contract per-
formance or a longer period, depending on facts and circumstances. We classify deferred commissions as current or
non-current based on the expected timing of expense recognition. Where the amortization period would have been
one year or less, we expense the associated incremental direct cost as incurred. The current and non-current por-
tions of deferred commissions are included in “Other current assets” and “Other assets,” respectively, in our
:ɁȶɰɁȢȈǁƃɽǉǁ9ƃȢƃȶƺǉČȃǉǉɽɰӝɽAǉƺǉȴƹǉɨԝјіӗїѕїљƃȶǁїѕїјӗɽȃǉƺʍɨɨǉȶɽɥɁɨɽȈɁȶɁǹǁǉǹǉɨɨǉǁƺɁȴȴȈɰɰȈɁȶɰʥƃɰ
$40.5 and $35.0, respectively, and the non-current portion of deferred commissions was $50.0 and $36.7, respec-
tively. The Company recognized $32.2, $29.3, and $30.7 of expense related to deferred commissions for the years
ǉȶǁǉǁAǉƺǉȴƹǉɨԝјіӗїѕїљӗїѕїјӗƃȶǁїѕїїӗɨǉɰɥǉƺɽȈʤǉȢʰӝ

ĄÝĀKĄěK:ÇÝ¸Ý{KČӓ2024 ANNUAL REPORT
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Remaining performance obligations—Remaining performance obligations represent the transaction price of firm
ɁɨǁǉɨɰǹɁɨʥȃȈƺȃʥɁɨȟȃƃɰȶɁɽƹǉǉȶɥǉɨǹɁɨȴǉǁӗǉʯƺȢʍǁȈȶǼʍȶǉʯǉɨƺȈɰǉǁƺɁȶɽɨƃƺɽɁɥɽȈɁȶɰӝɰɁǹAǉƺǉȴƹǉɨԝјіӗїѕїљӗ
total remaining performance obligations were $4,754.9. We expect to recognize revenues on approximately 65% of
our remaining performance obligations over the next 12 months, with the remainder of the revenue to be recog-
nized thereafter.
Capitalized Software—The Company accounts for capitalized software under applicable accounting guidance
—
which, among other provisions, requires capitalization of certain internal-use software costs once certain criteria are
ȴǉɽӝԝÝʤǉɨȃǉƃǁӗǼǉȶǉɨƃȢƃȶǁƃǁȴȈȶȈɰɽɨƃɽȈʤǉӗƃȶǁɽɨƃȈȶȈȶǼƺɁɰɽɰƃɨǉȶɁɽƺƃɥȈɽƃȢȈ˃ǉǁӝ:ƃɥȈɽƃȢȈ˃ǉǁɰɁǹɽʥƃɨǉƹƃȢƃȶƺǉɰӗȶǉɽ
ɁǹƃƺƺʍȴʍȢƃɽǉǁƃȴɁɨɽȈ˃ƃɽȈɁȶӗʥǉɨǉԤііћӝўƃȶǁԤіѕїӝћƃɽAǉƺǉȴƹǉɨԝјіӗїѕїљƃȶǁїѕїјӗɨǉɰɥǉƺɽȈʤǉȢʰӗʥȃȈƺȃƃɨǉȈȶƺȢʍǁǉǁ
in “Other assets” in our Consolidated Balance Sheets.
Stock-Based Compensation—The Company recognizes expense for the grant date fair value of its stock-based
—
awards on a straight-line basis (or, in the case of certain performance-based awards, on a graded basis) over the
ǉȴɥȢɁʰǉǉԇɰɨǉɧʍȈɰȈɽǉɰǉɨʤȈƺǉɥǉɨȈɁǁӯǼǉȶǉɨƃȢȢʰɽȃǉʤǉɰɽȈȶǼɥǉɨȈɁǁɁǹɽȃǉƃʥƃɨǁӰӝԝěȃǉǹƃȈɨʤƃȢʍǉɁǹɥǉɨǹɁɨȴƃȶƺǉӸƹƃɰǉǁ
restricted stock awards subject to a market modifier was estimated using a Monte Carlo simulation model, using
risk-free interest rate, expected volatility, expected dividend yield, and correlation coefficient as key assumptions.
The fair value of option awards is estimated using the Black-Scholes option valuation model. The Company accounts
for forfeitures of stock-based awards as they occur, with previously recognized compensation reversed in the period
in which the awards are forfeited.
ӭїӮ9ĩČÇKČČ:ĂĩČěÝÇČÇAAČĀÝČěÝÇČ
2024 Acquisitions—Roper completed four business acquisitions in the year ended December 31, 2024. The results
of operations of the acquired businesses are included in Roper’s Consolidated Financial Statements from the date of
each acquisition. Pro forma results of operations and the revenues and net earnings subsequent to each acquisition
date for the 2024 acquisitions have not been presented because the effects of the acquisitions, individually and in
the aggregate, were not material to our financial results.
On February 26, 2024, Roper acquired Genesis Ultimate Holding Co., the parent company of Procare Software, LLC
(“Procare”), a leading provider of cloud-based software and integrated payment processing for the management of
ǉƃɨȢʰ ƺȃȈȢǁȃɁɁǁ ǉǁʍƺƃɽȈɁȶ ƺǉȶɽǉɨɰӗ ǹɁɨ ƃ ɥʍɨƺȃƃɰǉ ɥɨȈƺǉ Ɂǹ Ԥіӗѝћѕӝѕӗ ȶǉɽ Ɂǹ ƺƃɰȃ ƃƺɧʍȈɨǉǁ ƃȶǁ ƺǉɨɽƃȈȶ ȢȈƃƹȈȢȈɽȈǉɰ
assumed. Additionally, the purchase price contemplated a net present value tax benefit of approximately $110 which
is expected to be utilized over the subsequent 13 years. The results of Procare are reported in the Application Software
reportable segment.
ěȃǉ:ɁȴɥƃȶʰɨǉƺɁɨǁǉǁԤіӗїѕѝӝїȈȶǼɁɁǁʥȈȢȢӗԤјўӝѕƃɰɰȈǼȶǉǁɽɁɽɨƃǁǉȶƃȴǉɰɽȃƃɽƃɨǉȶɁɽɰʍƹȚǉƺɽɽɁƃȴɁɨɽȈ˃ƃɽȈɁȶӗƃȶǁ
$762.0 of other identifiable intangibles in connection with the Procare acquisition. The amortizable intangible assets
ȈȶƺȢʍǁǉƺʍɰɽɁȴǉɨɨǉȢƃɽȈɁȶɰȃȈɥɰɁǹԤќѕѝӝѕӯїѕʰǉƃɨʍɰǉǹʍȢȢȈǹǉӰƃȶǁɽǉƺȃȶɁȢɁǼʰɁǹԤњљӝѕӯњʰǉƃɨʍɰǉǹʍȢȢȈǹǉӰӝÇǉɽƃɰɰǉɽɰ
acquired also include approximately $122 of net deferred tax liabilities, primarily attributable to acquired intangible
assets, partially offset by federal tax attributes.
On August 20, 2024, Roper acquired RCP Vega Holdings, LLC, the parent company of Transact Campus Inc.
(“Transact”), a leading provider of integrated campus technology and payment solutions, including campus identity
software and secure access, tuition and fees management software and payment processing, as well as point-of-
sale commerce solutions. Transact serves higher education institutions, healthcare facilities, and business cam-
puses. Roper acquired Transact for a purchase price of $1,607, net of cash acquired and certain liabilities assumed.
Additionally, the purchase price contemplated a net present value tax benefit of approximately $100 which is
expected to be utilized over the subsequent 14 years. This acquisition has been integrated with our CBORD business
and its results are reported in the Application Software reportable segment.
The Company recorded $947.3 in goodwill, $41.0 assigned to trade names that are not subject to amortization, and
$705.0 of other identifiable intangibles in connection with the Transact acquisition. The amortizable intangible
ƃɰɰǉɽɰȈȶƺȢʍǁǉƺʍɰɽɁȴǉɨɨǉȢƃɽȈɁȶɰȃȈɥɰɁǹԤћњћӝѕӯіѝʰǉƃɨʍɰǉǹʍȢȢȈǹǉӰƃȶǁɽǉƺȃȶɁȢɁǼʰɁǹԤљўӝѕӯћʰǉƃɨʍɰǉǹʍȢȢȈǹǉӰӝÇǉɽ
assets acquired also include approximately $76 of net deferred tax liabilities, primarily attributable to acquired intan-
gible assets, partially offset by federal tax attributes.
During the year ended December 31, 2024, Roper completed two other bolt-on acquisitions with an aggregate pur-
chase price of $153.1, net of cash acquired and certain liabilities assumed.
On November 4, 2024, Roper acquired the issued and outstanding shares of Surefyre, Inc., a leading provider of
cloud-based insurance software that automates the submission and underwriting processes for managing general
agents, wholesalers, and carriers. This acquisition has been integrated into our Vertafore business and its results are
reported in the Application Software reportable segment.

ĄÝĀKĄěK:ÇÝ¸Ý{KČӓ2024 ANNUAL REPORT
47
On December 17, 2024, Roper acquired the outstanding membership interests of Trucker Tools, LLC, a leader in load
visibility, automated booking, and digital freight matching software solutions for commercial trucking. This acquisi-
tion is being integrated into our DAT business and its results are reported in the Network Software reportable
segment.
The Company recorded $99.9 in goodwill, $3.2 assigned to trade names that are not subject to amortization, and
$53.3 of other identifiable intangibles in connection with the other 2024 acquisitions. The amortizable intangible
assets include customer relationships of $47.3 (14.5 year weighted average useful life) and technology of $6.0 (5.0
year weighted average useful life).
2023 Acquisitions—Roper completed four business acquisitions in the year ended December 31, 2023. The results
of operations of the acquired businesses are included in Roper’s Consolidated Financial Statements from the date of
each acquisition. Pro forma results of operations and the revenues and net earnings subsequent to each acquisition
date for the 2023 acquisitions have not been presented because the effects of the acquisitions, individually and in
the aggregate, were not material to our financial results.
The largest of the 2023 acquisitions was Syntellis Parent, LLC (“Syntellis”), the parent company of Syntellis Performance
Solutions, LLC, a leading provider of cloud-based performance management and data solutions for healthcare,
financial institution, and higher education providers. Roper acquired the outstanding membership interests of
ČʰȶɽǉȢȢȈɰɁȶʍǼʍɰɽќӗїѕїјӗǹɁɨƃɥʍɨƺȃƃɰǉɥɨȈƺǉɁǹԤіӗјѝіӗƃǁȚʍɰɽǉǁǹɁɨƺƃɰȃƃƺɧʍȈɨǉǁƃȶǁƺǉɨɽƃȈȶȢȈƃƹȈȢȈɽȈǉɰƃɰɰʍȴǉǁӝ
Additionally, the purchase price contemplated a net present value tax benefit of approximately $135 which is
expected to be utilized over the subsequent 15 years. This acquisition has been integrated into our Strata business
and its results are reported in the Application Software reportable segment.
ěȃǉ:ɁȴɥƃȶʰɨǉƺɁɨǁǉǁԤѝњўӝѕȈȶǼɁɁǁʥȈȢȢӗԤіќӝѕƃɰɰȈǼȶǉǁɽɁɽɨƃǁǉȶƃȴǉɰɽȃƃɽƃɨǉȶɁɽɰʍƹȚǉƺɽɽɁƃȴɁɨɽȈ˃ƃɽȈɁȶӗƃȶǁ
$594.0 of other identifiable intangibles in connection with the Syntellis acquisition. The amortizable intangible assets
include customer relationships of $529.0 (20 year useful life) and technology of $65.0 (7 year useful life).
During the year ended December 31, 2023, Roper completed three other bolt-on acquisitions.
On May 2, 2023, Roper acquired the outstanding membership interests of Promium, L.L.C., a leading provider of lab-
oratory information management systems in the environmental and water markets, for a purchase price of $16.5.
This acquisition has been integrated into our Clinisys business and its results are reported in the Application Software
reportable segment.
On August 21, 2023, Roper acquired the assets of Replicon Inc., a provider of time tracking software solutions for
project and services centric organizations, for a purchase price of $447.5, adjusted for cash acquired and certain lia-
ƹȈȢȈɽȈǉɰƃɰɰʍȴǉǁӝǁǁȈɽȈɁȶƃȢȢʰӗɽȃǉɥʍɨƺȃƃɰǉɥɨȈƺǉƺɁȶɽǉȴɥȢƃɽǉǁƃȶǉɽɥɨǉɰǉȶɽʤƃȢʍǉɽƃʯƹǉȶǉǹȈɽɁǹƃɥɥɨɁʯȈȴƃɽǉȢʰԤѝѕ
which is expected to be utilized over the subsequent 15 years. This acquisition has been integrated into our Deltek
business and its results are reported in the Application Software reportable segment.
On December 26, 2023, Roper acquired the issued and outstanding shares of Executive Business Services, Inc.
(“ProPricer”), a leading provider of proposal pricing software solutions for government contractors and government
agencies, for a purchase price of $79.5, adjusted for cash acquired and certain liabilities assumed. This acquisition
has been integrated into our Deltek business and its results are reported in the Application Software reportable
segment.
The Company recorded $330.6 in goodwill, $15.4 assigned to trade names that are not subject to amortization, and
$229.1 of other identifiable intangibles in connection with the other 2023 acquisitions. The amortizable intangible
assets include customer relationships of $209.4 (16.9 year weighted average useful life) and technology of $19.7 (5.0
year weighted average useful life).
ÝȶʍǼʍɰɽљӗїѕїјӗĄɁɥǉɨƃƺɧʍȈɨǉǁƃȶіѝӝїՐȢȈȴȈɽǉǁɥƃɨɽȶǉɨɰȃȈɥȴȈȶɁɨȈɽʰȈȶɽǉɨǉɰɽȈȶ:ĩȢɽȈȴƃɽǉɁȢǁȈȶǼɰӗ¸ӝĀӝӗɽȃǉ
parent entity of Certinia Inc., a leading provider of professional services automation software, for $125.0. Roper com-
pleted the sale of its equity investment in Certinia in November 2024 for cash proceeds of $245.6.
2022 Acquisitions—Roper completed seven business acquisitions in the year ended December 31, 2022. The results
of operations of the acquired businesses are included in Roper’s Consolidated Financial Statements from the date of
each acquisition. Pro forma results of operations and the revenues and net earnings subsequent to each acquisition
date for the 2022 acquisitions have not been presented because the effects of the acquisitions, individually and in
the aggregate, were not material to our financial results.
The largest of the 2022 acquisitions was Frontline Technologies Parent, LLC (“Frontline”), a leading provider of K-12
school administration software, connecting solutions for human capital management, student and special pro-
grams, and business operations with powerful analytics that empower educators. Roper acquired Frontline on
ÝƺɽɁƹǉɨљӗїѕїїӗǹɁɨƃɥʍɨƺȃƃɰǉɥɨȈƺǉɁǹԤјӗќјѝӝѕӝěȃǉɥʍɨƺȃƃɰǉɥɨȈƺǉƺɁȴɥɨȈɰǉǁƃȶǉȶɽǉɨɥɨȈɰǉʤƃȢʍǉɁǹԤјӗќїњӝѕӗ
adjusted for cash acquired and the settlement of certain liabilities. Additionally, the purchase price initially contem-
plated a net present value tax benefit of approximately $350. During the measurement period, the net present value

ĄÝĀKĄěK:ÇÝ¸Ý{KČӓ2024 ANNUAL REPORT
48
tax benefit was revised upwards to approximately $500 associated with an increase in our tax basis. This net present
value tax benefit is expected to be utilized over the subsequent 15 years. The results of Frontline are reported in the
Application Software reportable segment.
ěȃǉ:ɁȴɥƃȶʰɨǉƺɁɨǁǉǁԤїӗіўќӝћȈȶǼɁɁǁʥȈȢȢƃȶǁԤіӗўіѝӝћɁǹɁɽȃǉɨȈǁǉȶɽȈǹȈƃƹȢǉȈȶɽƃȶǼȈƹȢǉɰȈȶƺɁȶȶǉƺɽȈɁȶʥȈɽȃɽȃǉ
yɨɁȶɽȢȈȶǉƃƺɧʍȈɰȈɽȈɁȶӝÝǹɽȃǉԤіӗўіѝӝћɁǹƃƺɧʍȈɨǉǁȈȶɽƃȶǼȈƹȢǉƃɰɰǉɽɰӗԤѝјӝѕʥƃɰƃɰɰȈǼȶǉǁɽɁɽɨƃǁǉȶƃȴǉɰɽȃƃɽƃɨǉȶɁɽ
ɰʍƹȚǉƺɽ ɽɁ ƃȴɁɨɽȈ˃ƃɽȈɁȶӝ ěȃǉ ɨǉȴƃȈȶȈȶǼ Ԥіӗѝјњӝћ Ɂǹ ƃƺɧʍȈɨǉǁ ȈȶɽƃȶǼȈƹȢǉ ƃɰɰǉɽɰ ȈȶƺȢʍǁǉ ƺʍɰɽɁȴǉɨ ɨǉȢƃɽȈɁȶɰȃȈɥɰ Ɂǹ
ԤіӗќњќӝѕӯїѕʰǉƃɨʍɰǉǹʍȢȢȈǹǉӰƃȶǁʍȶɥƃɽǉȶɽǉǁɽǉƺȃȶɁȢɁǼʰɁǹԤќѝӝћӯњʰǉƃɨʍɰǉǹʍȢȢȈǹǉӰӝ
ȶƺȢʍǁȈȶǼȴǉƃɰʍɨǉȴǉȶɽɥǉɨȈɁǁƃǁȚʍɰɽȴǉȶɽɰӗȶǉɽƃɰɰǉɽɰƃƺɧʍȈɨǉǁƃȢɰɁȈȶƺȢʍǁǉƃɥɥɨɁʯȈȴƃɽǉȢʰԤїњѝɁǹǁǉǹǉɨɨǉǁɨǉʤǉ-
nue and approximately $122 of net deferred tax liabilities, primarily attributable to acquired intangible assets, par-
tially offset by federal tax attributes. Approximately $1,200 of goodwill is expected to be deductible for tax
purposes.
During the year ended December 31, 2022, Roper completed six bolt-on acquisitions with an aggregate purchase
ɥɨȈƺǉɁǹԤњќѝӝѝӗȶǉɽɁǹƺƃɰȃƃƺɧʍȈɨǉǁƃȶǁǁǉƹɽƃɰɰʍȴǉǁӝ
On January 3, 2022, Roper acquired the outstanding membership interests of Horizon Lab Systems, LLC, a provider
of laboratory information management systems in the toxicology, environmental, public health, and agricultural
markets. This acquisition has been integrated into our Clinisys business and its results are reported in the Application
Software reportable segment.
On April 6, 2022, Roper acquired the issued and outstanding shares of Common Cents Systems, Inc. (ApolloLIMS), a
provider of laboratory information management systems in the toxicology and public health markets. This acquisi-
tion has been integrated into our Clinisys business and its results are reported in the Application Software report-
able segment.
On June 27, 2022, Roper acquired the issued and outstanding shares of MGA Systems Holdings, Inc., a leading pro-
vider of purpose-built insurance software for managing general agents. This acquisition has been integrated into
our Vertafore business and its results are reported in the Application Software reportable segment.
On August 19, 2022, Roper acquired substantially all of the assets of viDesktop Inc. (viGlobal), a leading provider of
end-to-end human resources management software used for recruiting and integration, productivity manage-
ment, resource allocation, performance management, and learning and development at professional services firms.
This acquisition has been integrated into our Aderant business and its results are reported in the Application
Software reportable segment.
During the third quarter of 2022, Roper acquired TIP Technologies, Inc. and Common Sense Solutions, Inc., which
have been integrated into our Deltek business and their results are reported in the Application Software reportable
segment.
The Company recorded $361.5 in goodwill, $9.5 assigned to trade names that are not subject to amortization, and
$239.3 of other identifiable intangibles in connection with these six acquisitions. The amortizable intangible assets
ȈȶƺȢʍǁǉƺʍɰɽɁȴǉɨɨǉȢƃɽȈɁȶɰȃȈɥɰɁǹԤїїјӝљӯіѝӝїʰǉƃɨʥǉȈǼȃɽǉǁƃʤǉɨƃǼǉʍɰǉǹʍȢȢȈǹǉӰƃȶǁɽǉƺȃȶɁȢɁǼʰɁǹԤіњӝўӯљӝўʰǉƃɨ
weighted average useful life).
ӭјӮAČ:ÝÇěÇĩKAÝĀKĄěÝÇČ
The Company concluded that the 2021 Divestitures and the Indicor Transaction each represented a strategic shift
that had a major effect on the Company’s operations and financial results. Accordingly, the financial results related
to the 2021 Divestitures and Indicor are reported in our Consolidated Financial Statements as discontinued opera-
tions for all periods presented.
The following of the 2021 Divestitures closed during the first quarter of 2022, as described below:
• On March 17, 2022, Roper closed on the divestiture of its TransCore business to an affiliate of Singapore
ěǉƺȃȶɁȢɁǼȈǉɰKȶǼȈȶǉǉɨȈȶǼ¸ɽǁӗǹɁɨƃɥɥɨɁʯȈȴƃɽǉȢʰԤїӗћѝѕȈȶƺƃɰȃӝěȃǉɰƃȢǉɨǉɰʍȢɽǉǁȈȶƃɥɨǉɽƃʯǼƃȈȶɁǹԤїӗѕќјӝќ
and income tax expense of $550.5, which are reported within “Gain on disposition of discontinued operations,
net of tax” in our Consolidated Statement of Earnings for the year ended December 31, 2022. TransCore was
previously included in the historical Network Software & Systems reportable segment.
• On January 5, 2022, Roper closed on the divestiture of its Zetec business to Eddyfi NDT Inc. for approximately
$350 in cash. The sale resulted in a pretax gain of $255.3 and income tax expense of $60.9, which are reported
within “Gain on disposition of discontinued operations, net of tax” in our Consolidated Statement of Earnings
for the year ended December 31, 2022. Zetec was previously included in the historical Process Technologies
reportable segment.

ĄÝĀKĄěK:ÇÝ¸Ý{KČӓ2024 ANNUAL REPORT
49
The following table summarizes the major classes of revenues and expenses constituting net earnings from discon-
tinued operations attributable to the TransCore and Zetec businesses:
Year ended December 31,
2022
Net revenues
$ 100.4
Cost of sales
71.2
{ɨɁɰɰɥɨɁˎɽ
29.2
Selling, general and administrative expenses(1)
19.9
Income from operations
9.3
Other income, net
0.1
Earnings before income taxes(2)
9.4
ȶƺɁȴǉɽƃʯƹǉȶǉˎɽ
(6.2)
Earnings from discontinued operations, net of tax
15.6
Gain on disposition of discontinued operations, net of tax(3)
1,717.5
Net earnings from discontinued operations
$1,733.1
(1) Includes stock-based compensation expense of $0.9 for the year ended December 31, 2022. Stock-based compensation was previously reported
as a component of unallocated corporate general and administrative expenses.
(2) During the year ended December 31, 2022, there was no depreciation of property, plant and equipment or amortization of intangible assets given
the asset classification as held for sale during the period.
(3) Includes expense of $4.5 associated with accelerated vesting of share-based awards for the year ended December 31, 2022.
Indicor—On November 22, 2022, Roper completed the divestiture of a majority 51% stake in Indicor to CD&R for approx-
imately $2,604 in cash. The consideration was comprised of a cash distribution of approximately $1,775 funded by third-
ɥƃɨɽʰȈȶǁǉƹɽǉǁȶǉɰɰȈȶƺʍɨɨǉǁƹʰȶǁȈƺɁɨƃȶǁƃɥɥɨɁʯȈȴƃɽǉȢʰԤѝїўɨǉȢƃɽǉǁɽɁɽȃǉȴƃȚɁɨȈɽʰњіՐǉɧʍȈɽʰɰɽƃȟǉӝěȃǉ:Ɂȴɥƃȶʰ
retained an initial 49% minority equity interest in Indicor. The sale resulted in a pretax gain of $2,046.0, which included
$142.6 of foreign currency translation losses and $535.0 associated with the initial remaining 49% interest in Indicor
(described further in Note 10). The Company recognized income tax expense of $407.2 associated with the gain.
The following table summarizes the major classes of revenues and expenses constituting net earnings from discon-
tinued operations attributable to Indicor:
Year ended December 31,
2023
2022
Net revenues
$ —
$ 916.1
Cost of sales
—
432.1
{ɨɁɰɰɥɨɁˎɽ
—
љѝљӝѕ
Selling, general and administrative expenses(1)
2.3
250ԑ5
Income (loss) from operations
(2.3)
233.5
Other expense, net
—
(0.7)
Earnings (loss) before income taxes(2)
(2.3)
їјїӝѝ
Income taxes
іӝѝ
45.6
Earnings (loss) from discontinued operations, net of tax
(4.1)
іѝќӝї
Gain on disposition of discontinued operations, net of tax
19.9(3)
іӗћјѝӝѝ
Net earnings from discontinued operations
Ԥіњӝѝ
Ԥіӗѝїћӝѕ
(1) Certain costs previously reported as a component of unallocated corporate general and administrative expenses have been reclassified to discon-
tinued operations. These costs primarily include stock-based compensation expense of $10.3 for the year ended December 31, 2022.
(2) Includes depreciation and amortization of $6.4 for the year ended December 31, 2022.
(3) Consists of adjustments subsequent to the sale primarily associated with income taxes.

ĄÝĀKĄěK:ÇÝ¸Ý{KČӓ2024 ANNUAL REPORT
50
ӭљӮÇřKÇěÝĄKČ
The components of inventories at December 31 were as follows:
2024
2023
Raw materials and supplies
$ 65.5
$ 57.6
Work in process
32.1
їѝӝќ
Finished products
34.4
љіӝѝ
Inventory reserves
(11.2)
(9.5)
Inventories, net
Ԥіїѕӝѝ
Ԥііѝӝћ
ӭњӮĀĄÝĀKĄěťӗĀ¸ÇěÇAKĂĩĀÃKÇě
The components of property, plant and equipment at December 31 were as follows:
2023
Land
$ 1.0
$ 1.0
Buildings and leasehold improvements
59.4
57.7
Machinery and other equipment
177.6
137.2
Computer equipment
114.1
116.4
Software
75.6
76.1
Property, plant and equipment, gross
427.7
јѝѝӝљ
Accumulated depreciation
ӯїќѝӝѕ)
ӯїћѝӝѝӰ
Property, plant and equipment, net
$ 149.7
$ 119.6
Depreciation and amortization expense related to property, plant and equipment was $37.1, $35.4, and $37.3 for the
ʰǉƃɨɰǉȶǁǉǁAǉƺǉȴƹǉɨԝјіӗїѕїљӗїѕїјӗƃȶǁїѕїїӗɨǉɰɥǉƺɽȈʤǉȢʰӝ
ӭћӮ{ÝÝAŚ¸¸ÇAÝěKĄÇěÇ{9¸KČČKěČ
The carrying value of goodwill by segment was as follows:
Application
Software
Network
Software
Technology
Enabled
Products
Total
Balances at December 31, 2022
$ 11,417.5
Ԥԛјӗњўѝӝј
Ԥԛўјѕӝј
$15,946.1
Goodwill acquired
іӗіѝўӝћ
—
—
іӗіѝўӝћ
Currency translation adjustments
15.2
26.3
0.5
42.0
ĄǉƺȢƃɰɰȈˎƺƃɽȈɁȶɰƃȶǁɁɽȃǉɨ
ӯњѝӝў)
—
—
ӯњѝӝў)
Balances at December 31, 2023
$12,563.4
Ԥԛјӗћїљӝћ
Ԥўјѕӝѝ
Ԥіќӗііѝӝѝ
Goodwill acquired
2,167.6
ѝќӝѝ
—
2,255.4
Currency translation adjustments
(11.0)
(6.0)
(1.9)
ӯіѝӝў)
ĄǉƺȢƃɰɰȈˎƺƃɽȈɁȶɰƃȶǁɁɽȃǉɨ
(42.4)
—
—
(42.4)
Balances at December 31, 2024
$14,677.6
$3,706.4
Ԥԛўїѝӝў
Ԥԛіўӗјіїӝў
ĄǉƺȢƃɰɰȈǹȈƺƃɽȈɁȶɰƃȶǁɁɽȃǉɨǁʍɨȈȶǼɽȃǉʰǉƃɨǉȶǁǉǁAǉƺǉȴƹǉɨԝјіӗїѕїљɨǉȢƃɽǉɰɽɁɥʍɨƺȃƃɰǉƃƺƺɁʍȶɽȈȶǼƃǁȚʍɰɽȴǉȶɽɰ
for acquisitions and is composed primarily of measurement period adjustments of $21.3, $13.7, and $11.3 to decrease
goodwill and deferred tax liabilities in connection with the Procare, Transact, and Syntellis opening balance sheets,
respectively.
ĄǉƺȢƃɰɰȈǹȈƺƃɽȈɁȶɰƃȶǁɁɽȃǉɨǁʍɨȈȶǼɽȃǉʰǉƃɨǉȶǁǉǁAǉƺǉȴƹǉɨԝјіӗїѕїјɨǉȢƃɽǉɰɽɁɥʍɨƺȃƃɰǉƃƺƺɁʍȶɽȈȶǼƃǁȚʍɰɽȴǉȶɽɰ
for acquisitions and is composed primarily of measurement period adjustments of $56.2 to decrease goodwill and
deferred tax liabilities in connection with the Frontline opening balance sheet.

ĄÝĀKĄěK:ÇÝ¸Ý{KČӓ2024 ANNUAL REPORT
51
Other intangible assets were comprised of:
Cost
Accumulated
amortization
Net book value
Assets subject to amortization:
Customer related intangibles
Ԥԛіѕӗѕћіӝќ
$(3,000.5)
Ԥԛԛԛќӗѕћіӝї
Unpatented technology
1,047.0
ӯћјѝӝѝ)
љѕѝӝї
Software
149.2
(143.4)
њӝѝ
Patents and other protective rights
10.3
(1.4)
ѝӝў
Assets not subject to amortization:
Trade names
ќїѝӝѕ
—
ќїѝӝѕ
Balances at December 31, 2023
Ԥԛііӗўўћӝї
Ԥԛԛԛӯјӗќѝљӝі)
Ԥѝӗїіїӝі
Assets subject to amortization:
Customer related intangibles
Ԥԛԛііӗјѕјӝќ
Ԥԛԛӯјӗљњќӝѕ)
Ԥќӗѝљћӝќ
Unpatented technology
ѝњіӝќ
(454.7)
397.0
Patents and other protective rights
9.2
(1.9)
7.3
Assets not subject to amortization:
Trade names
ѝѕѝӝћ
—
ѝѕѝӝћ
Balances at December 31, 2024
$ 12,973.2
Ԥԛԛӯјӗўіјӝћ)
Ԥԛўӗѕњўӝћ
ȴɁɨɽȈ˃ƃɽȈɁȶǉʯɥǉȶɰǉɁǹɁɽȃǉɨȈȶɽƃȶǼȈƹȢǉƃɰɰǉɽɰʥƃɰԤќљњӝїӗԤћўѝӝљӗƃȶǁԤћѕѕӝњǁʍɨȈȶǼɽȃǉʰǉƃɨɰǉȶǁǉǁAǉƺǉȴƹǉɨԝјіӗ
їѕїљӗїѕїјӗƃȶǁїѕїїӗɨǉɰɥǉƺɽȈʤǉȢʰӝȴɁɨɽȈ˃ƃɽȈɁȶǉʯɥǉȶɰǉȈɰǉʯɥǉƺɽǉǁɽɁƹǉԤќћїӝѕȈȶїѕїњӗԤќїѝӝѕȈȶїѕїћӗԤћўљӝѕȈȶ
їѕїќӗԤћњљӝѕȈȶїѕїѝӗƃȶǁԤњѝїӝѕȈȶїѕїўӝ
ӭќӮÝěKĄ::ĄĩKA¸9¸ěKČ
Other accrued liabilities at December 31 were as follows:
2024
2023
Interest
$ 64.6
$ 33.6
Customer deposits
50.9
45.2
Accrued dividends
91.3
ѝїӝњ
Rebates
92.2
ѝіӝї
Operating lease liabilities
46.2
43.3
Sales and other taxes payable
30.1
јіӝѝ
Other
170.9
іїѝӝў
Other accrued liabilities
ԤԞњљћӝї
$ 446.5
ӭѝӮINCOME TAXES
KƃɨȶȈȶǼɰƹǉǹɁɨǉȈȶƺɁȴǉɽƃʯǉɰǹɁɨɽȃǉʰǉƃɨɰǉȶǁǉǁAǉƺǉȴƹǉɨԝјіӗїѕїљӗїѕїјӗƃȶǁїѕїїƺɁȶɰȈɰɽǉǁɁǹɽȃǉǹɁȢȢɁʥȈȶǼ
components:
2024
2023
2022
United States
Ԥԛіӗќѕіӝќ
Ԥіӗљѝѕӝј
$1,026.4
Other
265.5
їћїӝѝ
255.6
Earnings before income taxes
$1,967.2
$ 1,743.1
Ԥіӗїѝїӝѕ

ĄÝĀKĄěK:ÇÝ¸Ý{KČӓ2024 ANNUAL REPORT
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:ɁȴɥɁȶǉȶɽɰɁǹȈȶƺɁȴǉɽƃʯǉʯɥǉȶɰǉǹɁɨɽȃǉʰǉƃɨɰǉȶǁǉǁAǉƺǉȴƹǉɨԝјіӗїѕїљӗїѕїјӗƃȶǁїѕїїʥǉɨǉƃɰǹɁȢȢɁʥɰӖ
2024
2023
2022
Current:
Federal
Ԥјіќӝѝ
$352.6
Ԥԛјїїӝў
State
101.7
ѝѕӝќ
ѝѕӝѝ
Foreign
ќѝӝѕ
69.9
65.9
Deferred:
Federal
ӯљїӝѝ)
(94.1)
(136.9)
State
(15.9)
(27.7)
(31.1)
Foreign
(20.9)
(6.7)
(5.2)
Income tax expense
$417.9
ԤԞјќљӝќ
ԤԞїўћӝљ
Reconciliations between the U.S. federal statutory income tax rate and the effective income tax rate for the years
ǉȶǁǉǁAǉƺǉȴƹǉɨԝјіӗїѕїљӗїѕїјӗƃȶǁїѕїїʥǉɨǉƃɰǹɁȢȢɁʥɰӖ
2024
2023
2022
Federal statutory tax rate
21.0%
21.0%
21.0%
Foreign operations, net
0.6
0.5
ѕӝѝ
R&D tax credits
(2.0)
(1.9)
(3.0)
ČɽƃɽǉɽƃʯǉɰӗȶǉɽɁǹǹǉǁǉɨƃȢƹǉȶǉˎɽ
3.6
3.5
3.7
Stock-based compensation
(1.0)
(1.5)
(1.0)
Changes in valuation allowances
(1.4)
(0.4)
—
Legal entity restructuring
—
—
ѕӝѝ
Other, net
0.4
0.3
ѕӝѝ
Effective tax rate
21.2%
21.5%
23.1%
The deferred income tax balance sheet accounts arise from temporary differences between the amount of assets
and liabilities recognized for financial reporting and tax purposes.
Components of deferred tax assets and liabilities at December 31 were as follows:
2024
2023
Deferred tax assets:
Reserves and accrued expenses
$ 243.6
$ 223.2
Net operating loss carryforwards
94.6
ѝѕӝї
R&D credits
12.6
7.6
Capitalized R&D expenditures
271.1
іќѝӝќ
Interest expense limitation carryforwards
49.3
31.0
Lease liabilities
њѕӝѝ
47.1
Valuation allowances
ӯѝӝў)
ӯјљӝѝ)
Total deferred tax assets
$ 713.1
$ 533.0
Deferred tax liabilities:
Reserves and accrued expenses
$ 13.1
Ԥіѕӝѝ
Amortizable intangible assets
іӗўѝњӝї
іӗќњїӝѝ
Plant and equipment
ііӝѝ
7.5
Accrued tax on unremitted foreign earnings
9.7
ѝӝѝ
Right-of-use assets
љѝӝќ
44.7
Outside basis difference in Indicor
221.1
іѝўӝј
Total deferred tax liabilities
Ԥїӗїѝўӝћ
ԤԞїӗѕіјӝў
ɰɁǹAǉƺǉȴƹǉɨԝјіӗїѕїљӗɽȃǉ:ɁȴɥƃȶʰȃƃɰԤњіӝїɁǹɽƃʯӸǉǹǹǉƺɽǉǁĩӝČӝǹǉǁǉɨƃȢȶǉɽɁɥǉɨƃɽȈȶǼȢɁɰɰƺƃɨɨʰǹɁɨʥƃɨǁɰƃȶǁ
$44.5 of tax-effected state net operating loss carryforwards without regard for federal benefit of state. The majority
Ɂǹ ɽȃǉ ȶǉɽ ɁɥǉɨƃɽȈȶǼ ȢɁɰɰ ƺƃɨɨʰǹɁɨʥƃɨǁɰ ƃɨǉ ɰʍƹȚǉƺɽ ɽɁ ȢȈȴȈɽƃɽȈɁȶ ʍȶǁǉɨ ɽȃǉ ȶɽǉɨȶƃȢ Ąǉʤǉȶʍǉ :Ɂǁǉ Ɂǹ іўѝћӗ ƃɰ
ƃȴǉȶǁǉǁӯԄĄ:ԅӰČǉƺɽȈɁȶјѝїӝɰɁǹAǉƺǉȴƹǉɨԝјіӗїѕїљӗɽȃǉ:ɁȴɥƃȶʰȃƃɰԤѝӝїɁǹɽƃʯӸǉǹǹǉƺɽǉǁǹɁɨǉȈǼȶȶǉɽɁɥǉɨƃɽȈȶǼ
ȢɁɰɰƺƃɨɨʰǹɁɨʥƃɨǁɰӗƺǉɨɽƃȈȶɁǹʥȃȈƺȃƃɨǉɰʍƹȚǉƺɽɽɁȢȈȴȈɽƃɽȈɁȶӝǁǁȈɽȈɁȶƃȢȢʰӗƃɰɁǹAǉƺǉȴƹǉɨԝјіӗїѕїљӗɽȃǉ:Ɂȴɥƃȶʰȃƃɰ
$49.3 of IRC Section 163(j) interest expense limitation carryforwards which have an indefinite carryforward period.
ɰɁǹAǉƺǉȴƹǉɨԝјіӗїѕїљӗɽȃǉ:ɁȴɥƃȶʰȃƃɰƃԤїќіӝіǁǉǹǉɨɨǉǁɽƃʯƃɰɰǉɽɨǉȢƃɽǉǁɽɁɽƃʯɥƃʰǉɨɨǉɧʍȈɨǉȴǉȶɽɰɽɁƺƃɥȈɽƃȢȈ˃ǉ
and amortize research and development (“R&D”) expenditures under IRC Section 174. The Company amortizes these
costs for tax purposes over five years if the R&D was performed in the U.S. and over 15 years if the R&D was
performed outside of the U.S.

ĄÝĀKĄěK:ÇÝ¸Ý{KČӓ2024 ANNUAL REPORT
53
ěȃǉ:ɁȴɥƃȶʰȃƃɰƃǁǉǹǉɨɨǉǁɽƃʯȢȈƃƹȈȢȈɽʰɁǹԤїїіӝіȈȶɁʍɽɰȈǁǉƹƃɰȈɰǁȈǹǹǉɨǉȶƺǉƃɰɁǹAǉƺǉȴƹǉɨԝјіӗїѕїљƃɰɰɁƺȈƃɽǉǁʥȈɽȃ
the retained minority equity interest in Indicor. See Note 10 for additional information on this minority equity
interest.
ɰɁǹAǉƺǉȴƹǉɨԝјіӗїѕїљӗɽȃǉ:ɁȴɥƃȶʰǁǉɽǉɨȴȈȶǉǁɽȃƃɽɽɁɽƃȢʤƃȢʍƃɽȈɁȶƃȢȢɁʥƃȶƺǉɰɁǹԤѝӝўʥǉɨǉȶǉƺǉɰɰƃɨʰɽɁɨǉǁʍƺǉ
ĩӝČӝǹǉǁǉɨƃȢƃȶǁɰɽƃɽǉǁǉǹǉɨɨǉǁɽƃʯƃɰɰǉɽɰƹʰԤњӝіƃȶǁǹɁɨǉȈǼȶǁǉǹǉɨɨǉǁɽƃʯƃɰɰǉɽɰƹʰԤјӝѝӗʥȃǉɨǉȈɽʥƃɰȴɁɨǉȢȈȟǉȢʰ
than not that all such deferred tax assets will not be realized. During 2024, the Company’s net decrease in total valu-
ƃɽȈɁȶƃȢȢɁʥƃȶƺǉɰʥƃɰԤїњӝўӝԝɰɁǹAǉƺǉȴƹǉɨԝјіӗїѕїљӗɽȃǉ:ɁȴɥƃȶʰƹǉȢȈǉʤǉɰȈɽȈɰȴɁɨǉȢȈȟǉȢʰɽȃƃȶȶɁɽɽȃƃɽɽȃǉɨǉȴƃȈȶ-
ing net deferred tax assets will be realized based on the Company’s estimate of future taxable income and any
applicable tax planning strategies within various tax jurisdictions.
The Company recognizes in the Consolidated Financial Statements only those tax positions determined to be “more
likely than not” of being sustained upon examination based on the technical merits of the positions.
Reconciliations of the beginning and ending amounts of unrecognized tax benefits are as follows:
2024
2023
2022
Beginning balances
$35.6
$29.0
$40.5
Additions for tax positions of prior periods
1.2
4.3
—
Additions for tax positions of the current period
0.9
4.3
2.3
Reductions for tax positions of prior periods
(3.5)
—
(11.2)
Reductions attributable to lapses of applicable statutes of limitations
(5.1)
(2.0)
(2.6)
Reductions attributable to settlements with taxing authorities
(1.2)
—
—
Ending balances
Ԥԛїќӝў
ԤԞјњӝћ
ԤԞїўӝѕ
ɰɁǹAǉƺǉȴƹǉɨԝјіӗїѕїљӗɽȃǉɽɁɽƃȢƃȴɁʍȶɽɁǹʍȶɨǉƺɁǼȶȈ˃ǉǁɽƃʯƹǉȶǉǹȈɽɰɽȃƃɽӗȈǹɨǉƺɁǼȶȈ˃ǉǁӗʥɁʍȢǁȈȴɥƃƺɽɽȃǉǉǹǹǉƺ-
tive tax rate is $27.9. Interest and penalties related to unrecognized tax benefits were $1.2 in 2024 and are classified
ƃɰƃƺɁȴɥɁȶǉȶɽɁǹȈȶƺɁȴǉɽƃʯǉʯɥǉȶɰǉӝƺƺɨʍǉǁȈȶɽǉɨǉɰɽƃȶǁɥǉȶƃȢɽȈǉɰʥǉɨǉԤќӝѝƃɽAǉƺǉȴƹǉɨԝјіӗїѕїљƃȶǁԤћӝћƃɽ
AǉƺǉȴƹǉɨԝјіӗїѕїјӝAʍɨȈȶǼɽȃǉȶǉʯɽɽʥǉȢʤǉȴɁȶɽȃɰӗȈɽȈɰɨǉƃɰɁȶƃƹȢʰɥɁɰɰȈƹȢǉɽȃƃɽɽȃǉʍȶɨǉƺɁǼȶȈ˃ǉǁɽƃʯƹǉȶǉǹȈɽɰȴƃʰ
ǁǉƺɨǉƃɰǉƹʰƃȶǉɽƃȴɁʍȶɽɁǹԤѝӝќӗȴƃȈȶȢʰǁʍǉɽɁƃȶɽȈƺȈɥƃɽǉǁɰɽƃɽʍɽǉɁǹȢȈȴȈɽƃɽȈɁȶɰȢƃɥɰǉɰȈȶʤƃɨȈɁʍɰȚʍɨȈɰǁȈƺɽȈɁȶɰӝ
The Company and its subsidiaries are subject to examinations for U.S. federal income tax as well as income tax in
various state, city, and foreign jurisdictions. The Company’s federal income tax returns for 2021 through the current
period remain open to examination and the relevant state, city, and foreign statutes vary. The Company does not
expect the assessment of any significant additional tax in excess of amounts reserved.
The Company intends to distribute all historical unremitted foreign earnings up to the amount of excess foreign
cash, as well as all future foreign earnings that can be repatriated without incremental U.S. federal tax cost. Any
remaining outside basis differences relating to the Company’s investment in foreign subsidiaries are not expected to
be material and will be reinvested indefinitely.
ӭўӮ¸ÝÇ{ӳěKĄÃAK9ě
On July 21, 2022, the Company entered into a five-year unsecured credit facility (the “Credit Agreement”) among
Roper, the financial institutions from time to time party thereto, JPMorgan Chase Bank, N.A., as administrative
agent, Bank of America, N.A. and Wells Fargo Bank, N.A., as syndication agents, and Mizuho Bank, Ltd., MUFG Bank,
Ltd., PNC Bank, National Association, TD Bank, N.A., Truist Bank, and U.S. Bank, National Association, as documenta-
tion agents, which replaced the previous $3,000.0 unsecured credit facility, dated as of September 2, 2020, as
amended. The Credit Agreement comprises a five-year $3,500.0 revolving credit facility, which includes availability of
up to $150.0 for letters of credit. The Company may also, subject to compliance with specified conditions, request
additional term loans or revolving credit commitments in an aggregate amount not to exceed $500.0.
Loans under the Credit Agreement can be borrowed as term Secured Overnight Financing Rate (“SOFR”) loans or
Alternate Base Rate (“ABR”) Loans, at the Company’s option. Each term SOFR loan will bear interest at a rate per annum
equal to the applicable Adjusted Term SOFR rate plus a spread ranging from 0.795% to 1.300%, as determined by the
Company’s senior unsecured long-term debt rating at such time. Based on the Company’s current rating, the spread
for SOFR loans would be 0.910%. Each ABR Loan will bear interest at a rate per annum equal to the Alternate Base Rate
plus a spread ranging from 0.000% to 0.300%, as determined by the Company’s senior unsecured long-term debt rat-
ing at such time. Based on the Company’s current rating, the spread for ABR Loans would be 0.000%.
Amounts outstanding under the Credit Agreement may be accelerated upon the occurrence of customary events
of default. The Credit Agreement requires the Company to maintain a Total Debt to Total Capital Ratio of 0.65 to 1.00,
or less. Borrowings under the Credit Agreement are prepayable at Roper’s option at any time in whole or in part
without premium or penalty.

ĄÝĀKĄěK:ÇÝ¸Ý{KČӓ2024 ANNUAL REPORT
54
ɽ Aǉƺǉȴƹǉɨԝ јіӗ їѕїљ ƃȶǁ їѕїјӗ ɽȃǉɨǉ ʥǉɨǉ Ԥіїњӝѕ ƃȶǁ Ԥјћѕӝѕ Ɂǹ ƹɁɨɨɁʥȈȶǼɰ ɁʍɽɰɽƃȶǁȈȶǼ ʍȶǁǉɨ ɽȃǉ :ɨǉǁȈɽ
Agreement, respectively. The Company was in compliance with its debt covenants throughout the years ended
Aǉƺǉȴƹǉɨԝјіӗїѕїљƃȶǁїѕїјӝ
On August 21, 2024, the Company completed a public offering of $500.0 aggregate principal amount of 4.50% senior
unsecured notes due October 15, 2029 (“2029 Notes”), $500.0 aggregate principal amount of 4.75% senior unsecured
notes due February 15, 2032 (“2032 Notes”), and $1,000.0 aggregate principal amount 4.90% senior unsecured notes
due October 15, 2034 (“2034 Notes” and, collectively with the 2029 Notes and 2032 Notes, the “Notes”).
Each series of Notes bears interest at a fixed rate. Interest on the 2029 Notes and 2034 Notes is payable semi-annually
in arrears on April 15 and October 15 of each year, beginning April 15, 2025. Interest on the 2032 Notes is payable
semi-annually in arrears on February 15 and August 15 of each year, beginning February 15, 2025. The net proceeds
were used to repay a portion of the borrowings outstanding under our unsecured credit facility, including borrow-
ings incurred on August 20, 2024 to fund the purchase price of the Transact acquisition, as well as to repay a portion
of the senior notes due September 15, 2024.
On June 22, 2020, the Company completed a public offering of $600.0 aggregate principal amount of 2.00% senior
unsecured notes due June 30, 2030 (“2030 Notes”). The 2030 Notes bear interest at a fixed rate, payable semi-annually
in arrears on June 30 and December 30 of each year, beginning December 30, 2020. The net proceeds were used for
general corporate purposes, including acquisitions.
On September 1, 2020, the Company completed a public offering of $300.0 aggregate principal amount of 0.45%
fixed-rate senior unsecured notes due August 15, 2022, $700.0 aggregate principal amount of 1.00% senior unse-
cured notes due September 15, 2025 (“2025 Notes”), $700.0 aggregate principal amount of 1.40% senior unsecured
notes due September 15, 2027 (“2027 Notes”), and $1,000.0 aggregate principal amount of 1.75% senior unsecured
notes due February 15, 2031 (“2031 Notes”). The 2031 Notes bear interest at a fixed rate, payable semi-annually in
arrears on February 15 and August 15 of each year, beginning February 15, 2021. The 2025 Notes and 2027 Notes bear
interest at a fixed rate, payable semi-annually in arrears on March 15 and September 15 of each year, beginning March
15, 2021. The net proceeds, together with cash on hand and borrowings under the credit agreement in place at the
time, were used to fund the purchase price of the acquisition of Vertafore, Inc. and related costs.
ÝȶʍǼʍɰɽԝїћӗїѕіўӗɽȃǉ:ɁȴɥƃȶʰƺɁȴɥȢǉɽǉǁƃɥʍƹȢȈƺɁǹǹǉɨȈȶǼɁǹԤњѕѕӝѕƃǼǼɨǉǼƃɽǉɥɨȈȶƺȈɥƃȢƃȴɁʍȶɽɁǹїӝјњՐǹȈʯǉǁӸ
ɨƃɽǉɰǉȶȈɁɨʍȶɰǉƺʍɨǉǁȶɁɽǉɰǁʍǉČǉɥɽǉȴƹǉɨԝіњӗїѕїљƃȶǁԤќѕѕӝѕƃǼǼɨǉǼƃɽǉɥɨȈȶƺȈɥƃȢƃȴɁʍȶɽɁǹїӝўњՐɰǉȶȈɁɨʍȶɰǉ-
ƺʍɨǉǁȶɁɽǉɰǁʍǉČǉɥɽǉȴƹǉɨԝіњӗїѕїўӯԄKʯȈɰɽȈȶǼїѕїўÇɁɽǉɰԅӰӝԝěȃǉKʯȈɰɽȈȶǼїѕїўÇɁɽǉɰƹǉƃɨȈȶɽǉɨǉɰɽƃɽƃǹȈʯǉǁɨƃɽǉӗ
ɥƃʰƃƹȢǉɰǉȴȈӸƃȶȶʍƃȢȢʰȈȶƃɨɨǉƃɨɰɁȶÃƃɨƺȃіњƃȶǁČǉɥɽǉȴƹǉɨіњɁǹǉƃƺȃʰǉƃɨӗƹǉǼȈȶȶȈȶǼÃƃɨƺȃԝіњӗїѕїѕӝěȃǉȶǉɽ
proceeds were used to fund a portion of the purchase of iPipeline Holdings, Inc.
ÝȶʍǼʍɰɽԝїѝӗїѕіѝӗɽȃǉ:ɁȴɥƃȶʰƺɁȴɥȢǉɽǉǁƃɥʍƹȢȈƺɁǹǹǉɨȈȶǼɁǹԤќѕѕӝѕƃǼǼɨǉǼƃɽǉɥɨȈȶƺȈɥƃȢƃȴɁʍȶɽɁǹјӝћњՐǹȈʯǉǁӸ
ɨƃɽǉɰǉȶȈɁɨʍȶɰǉƺʍɨǉǁȶɁɽǉɰǁʍǉČǉɥɽǉȴƹǉɨԝіњӗїѕїјƃȶǁԤѝѕѕӝѕƃǼǼɨǉǼƃɽǉɥɨȈȶƺȈɥƃȢƃȴɁʍȶɽɁǹљӝїѕՐɰǉȶȈɁɨʍȶɰǉ-
ƺʍɨǉǁȶɁɽǉɰǁʍǉČǉɥɽǉȴƹǉɨԝіњӗїѕїѝӯԄїѕїѝÇɁɽǉɰԅӰӝěȃǉїѕїѝÇɁɽǉɰƹǉƃɨȈȶɽǉɨǉɰɽƃɽƃǹȈʯǉǁɨƃɽǉӗɥƃʰƃƹȢǉɰǉȴȈӸƃȶȶʍƃȢȢʰ
ȈȶƃɨɨǉƃɨɰɁȶÃƃɨƺȃіњƃȶǁČǉɥɽǉȴƹǉɨіњɁǹǉƃƺȃʰǉƃɨӗƹǉǼȈȶȶȈȶǼÃƃɨƺȃԝіњӗїѕіўӝ
ÝȶAǉƺǉȴƹǉɨԝіўӗїѕіћӗɽȃǉ:ɁȴɥƃȶʰƺɁȴɥȢǉɽǉǁƃɥʍƹȢȈƺɁǹǹǉɨȈȶǼɁǹԤќѕѕӝѕƃǼǼɨǉǼƃɽǉɥɨȈȶƺȈɥƃȢƃȴɁʍȶɽɁǹјӝѝѕՐ
ɰǉȶȈɁɨʍȶɰǉƺʍɨǉǁȶɁɽǉɰǁʍǉAǉƺǉȴƹǉɨԝіњӗїѕїћӝԝěȃǉȶɁɽǉɰƹǉƃɨȈȶɽǉɨǉɰɽƃɽƃǹȈʯǉǁɨƃɽǉӗɥƃʰƃƹȢǉɰǉȴȈӸƃȶȶʍƃȢȢʰȈȶ
ƃɨɨǉƃɨɰɁȶ°ʍȶǉіњƃȶǁAǉƺǉȴƹǉɨіњɁǹǉƃƺȃʰǉƃɨӗƹǉǼȈȶȶȈȶǼ°ʍȶǉԝіњӗїѕіќӝ
ÝȶAǉƺǉȴƹǉɨԝќӗїѕіњӗɽȃǉ:ɁȴɥƃȶʰƺɁȴɥȢǉɽǉǁƃɥʍƹȢȈƺɁǹǹǉɨȈȶǼɁǹԤјѕѕӝѕƃǼǼɨǉǼƃɽǉɥɨȈȶƺȈɥƃȢƃȴɁʍȶɽɁǹјӝѝњՐ
ɰǉȶȈɁɨʍȶɰǉƺʍɨǉǁȶɁɽǉɰǁʍǉAǉƺǉȴƹǉɨԝіњӗїѕїњӝԝěȃǉȶɁɽǉɰƹǉƃɨȈȶɽǉɨǉɰɽƃɽƃǹȈʯǉǁɨƃɽǉӗɥƃʰƃƹȢǉɰǉȴȈӸƃȶȶʍƃȢȢʰȈȶ
ƃɨɨǉƃɨɰɁȶ°ʍȶǉіњƃȶǁAǉƺǉȴƹǉɨіњɁǹǉƃƺȃʰǉƃɨӗƹǉǼȈȶȶȈȶǼ°ʍȶǉԝіњӗїѕіћӝ
ÝȶÇɁʤǉȴƹǉɨԝїіӗїѕіїӗɽȃǉ:ɁȴɥƃȶʰƺɁȴɥȢǉɽǉǁƃɥʍƹȢȈƺɁǹǹǉɨȈȶǼɁǹԤњѕѕӝѕƃǼǼɨǉǼƃɽǉɥɨȈȶƺȈɥƃȢƃȴɁʍȶɽɁǹјӝіїњՐ
ǹȈʯǉǁӸɨƃɽǉɰǉȶȈɁɨʍȶɰǉƺʍɨǉǁȶɁɽǉɰǁʍǉÇɁʤǉȴƹǉɨԝіњӗїѕїїӝ
Roper may redeem some or all of each outstanding series of notes at any time or from time to time, at 100% of their
principal amount, plus a make-whole premium based on a spread to U.S. Treasury securities. Roper is also entitled to
redeem each outstanding series of notes at 100% of their principal amount plus accrued and unpaid interest, on or
after applicable dates in advance of maturity.
On September 15, 2024, $500.0 of 2.35% senior notes due 2024 were repaid at maturity using borrowings under our
unsecured credit facility as well as a portion of the net proceeds from the issuance of the Notes.
On September 15, 2023, $700.0 of 3.65% senior notes due 2023 were repaid at maturity using borrowings under our
unsecured credit facility.
On August 15, 2022, $500.0 of 3.125% senior notes due 2022 were redeemed using cash flows generated from
operations.
On August 15, 2022, $300.0 of 0.45% senior notes due 2022 were repaid at maturity using cash flows generated from
operations.

ĄÝĀKĄěK:ÇÝ¸Ý{KČӓ2024 ANNUAL REPORT
55
The Company’s senior notes are unsecured senior obligations of the Company and rank equally in right of payment
ʥȈɽȃƃȢȢɁǹĄɁɥǉɨԇɰǉʯȈɰɽȈȶǼƃȶǁǹʍɽʍɨǉʍȶɰǉƺʍɨǉǁƃȶǁʍȶɰʍƹɁɨǁȈȶƃɽǉǁȈȶǁǉƹɽǉǁȶǉɰɰӝԝěȃǉȶɁɽǉɰƃɨǉǉǹǹǉƺɽȈʤǉȢʰɰʍƹɁɨ-
dinated to any of its existing and future secured indebtedness to the extent of the value of the collateral securing
ɰʍƺȃȈȶǁǉƹɽǉǁȶǉɰɰӝԝěȃǉȶɁɽǉɰƃɨǉȶɁɽǼʍƃɨƃȶɽǉǉǁƹʰƃȶʰɁǹĄɁɥǉɨԇɰɰʍƹɰȈǁȈƃɨȈǉɰƃȶǁƃɨǉǉǹǹǉƺɽȈʤǉȢʰɰʍƹɁɨǁȈȶƃɽǉǁɽɁ
all existing and future indebtedness and other liabilities of Roper’s subsidiaries.
Total debt at December 31 consisted of the following:
2024
2023
Unsecured revolving credit facility
$ 125.0
$
360.0
$500 2.350% senior notes due 2024
—
500.0
ԤјѕѕјӝѝњѕՐɰǉȶȈɁɨȶɁɽǉɰǁʍǉїѕїњ
300.0
300.0
ԤќѕѕԞіӝѕѕѕՐɰǉȶȈɁɨȶɁɽǉɰǁʍǉїѕїњ
700.0
700.0
ԤќѕѕјӝѝѕѕՐɰǉȶȈɁɨȶɁɽǉɰǁʍǉїѕїћ
700.0
700.0
$700 1.400% senior notes due 2027
700.0
700.0
ԤѝѕѕљӝїѕѕՐɰǉȶȈɁɨȶɁɽǉɰǁʍǉїѕїѝ
ѝѕѕӝѕ
ѝѕѕӝѕ
$500 4.500% senior notes due 2029
500.0
—
$700 2.950% senior notes due 2029
700.0
700.0
$600 2.000% senior notes due 2030
600.0
600.0
$1,000 1.750% senior notes due 2031
1,000.0
1,000.0
$500 4.750% senior notes due 2032
500.0
—
$1,000 4.900% senior notes due 2034
1,000.0
—
Other
44.2
0.2
¸ǉɰɰӖAǉǹǉɨɨǉǁˎȶƃȶƺȈȶǼƺɁɰɽɰ
(46.2)
(30.1)
ěɁɽƃȢǁǉƹɽӗȶǉɽɁǹǁǉǹǉɨɨǉǁˎȶƃȶƺȈȶǼƺɁɰɽɰ
7,623.0
6,330.1
¸ǉɰɰӖ:ʍɨɨǉȶɽɥɁɨɽȈɁȶӗȶǉɽɁǹǁǉǹǉɨɨǉǁˎȶƃȶƺȈȶǼƺɁɰɽɰ
(1,043.1)
(499.5)
¸ɁȶǼӸɽǉɨȴǁǉƹɽӗȶǉɽɁǹǁǉǹǉɨɨǉǁˎȶƃȶƺȈȶǼƺɁɰɽɰ
ԤԞћӗњќўӝў
ԤԞњӗѝјѕӝћ
The interest rate on borrowings under the unsecured credit facility is calculated based upon various recognized indi-
ƺǉɰɥȢʍɰƃȴƃɨǼȈȶƃɰǁǉǹȈȶǉǁȈȶɽȃǉ:ɨǉǁȈɽǼɨǉǉȴǉȶɽӝɽAǉƺǉȴƹǉɨԝјіӗїѕїљӗĄɁɥǉɨȃƃǁԤљљӝїɁǹɁɽȃǉɨǁǉƹɽȈȶɽȃǉ
ǹɁɨȴɁǹɰȃɁɨɽӸɽǉɨȴƹɁɨɨɁʥȈȶǼɰƃȶǁǹȈȶƃȶƺǉȢǉƃɰǉɰƃɰʥǉȢȢƃɰԤћӝѝɁǹɁʍɽɰɽƃȶǁȈȶǼȢǉɽɽǉɨɰɁǹƺɨǉǁȈɽӝ
Future maturities of total debt during each of the next five years ending December 31 and thereafter are as follows:
2025
ԤԞіӗѕљљӝі
2026
700.1
2027
ѝїњӝѕ
їѕїѝ
ѝѕѕӝѕ
2029
1,200.0
Thereafter
3,100.0
Total debt
$7,669.2
ӭіѕӮyĄř¸ĩK
Financial assets and liabilities are valued using market prices on active markets (Level 1), less active markets (Level 2),
and little or no market activity (Level 3). Level 1 instrument valuations are obtained from real-time quotes for transac-
tions in active exchange markets involving identical assets. Level 2 instrument valuations are obtained from readily
available pricing sources for comparable instruments, identical instruments in less active markets, or models using
market observable inputs. Level 3 instrument valuations typically reflect management’s estimate of assumptions
that market participants would use in pricing the asset or liability.
DebtӴɰ Ɂǹ Aǉƺǉȴƹǉɨԝ јіӗ їѕїљ ƃȶǁ їѕїјӗ ɽȃǉ ɽɁɽƃȢ ǉɰɽȈȴƃɽǉǁ ǹƃȈɨ ʤƃȢʍǉ Ɂǹ ĄɁɥǉɨԇɰ ǹȈʯǉǁӸɨƃɽǉ ɰǉȶȈɁɨ ȶɁɽǉɰ ʥƃɰ
$7,005.2 and $5,516.3, respectively. The fair values of the senior notes are based on the trading prices of each series
of notes, which the Company has determined to be Level 2 in the FASB fair value hierarchy.
Indicor Investment—In connection with the Indicor Transaction, the Company initially retained a 49% equity inter-
est in Indicor valued at $535.0 as of the transaction close date. This initial valuation was based on the implied equity
ʤƃȢʍǉƃɰɰɁƺȈƃɽǉǁʥȈɽȃɽȃǉɰƃȢǉɥɨȈƺǉɁǹɽȃǉњіՐǉɧʍȈɽʰȈȶɽǉɨǉɰɽȈȶȶǁȈƺɁɨɽɁ:AծĄǹɁɨƃɥɥɨɁʯȈȴƃɽǉȢʰԤѝїўӗȈȶƺȢʍɰȈʤǉɁǹ
the Unit Adjustment received by CD&R as discussed below. During 2023, we revised our valuation methodology to
utilize the market multiple approach consisting of comparable guideline public companies revenue and earnings
multiples to estimate the fair value of this investment, net of the Unit Adjustment discussed below. Our valuation
methodology was updated in 2023 given the passage of time since the transaction date and in consideration of
observable market data, including Indicor’s divestiture of its CCC business unit to Honeywell International Inc. on
June 30, 2023 for approximately $670.

ĄÝĀKĄěK:ÇÝ¸Ý{KČӓ2024 ANNUAL REPORT
56
As part of this investment, Roper is required to make quarterly payments (“Unit Adjustment”), to CD&R, either (i) in
cash, with total payments of approximately $29 per year on a pretax basis, or (ii) in-kind through the transfer of
Roper’s equity interests in Indicor to CD&R, of approximately 1.7% ownership interest on an annual basis. Roper
intends to continue making these quarterly payments in-kind. Roper’s valuation of the Unit Adjustment is based on
an expected investment horizon of 5 years from the date of the Indicor Transaction. The Company’s obligation to
make such quarterly payments will cease upon the earlier of:
• ȶǁȈƺɁɨƃƺȃȈǉʤȈȶǼԤљїњӝѕԝɁǹǉƃɨȶȈȶǼɰƹǉǹɁɨǉȈȶɽǉɨǉɰɽӗɽƃʯǉɰӗǁǉɥɨǉƺȈƃɽȈɁȶӗƃȶǁƃȴɁɨɽȈ˃ƃɽȈɁȶȈȶƃȶʰɽȃɨǉǉɽʥǉȢʤǉӸ
month periods, whether or not consecutive; or
• Upon the initial public offering of Indicor.
In the event of a sale of Indicor, CD&R would be entitled to a liquidation preference equal to its initial investment of
ƃɥɥɨɁʯȈȴƃɽǉȢʰԤѝїўӗɥȢʍɰƃȶʰĩȶȈɽǁȚʍɰɽȴǉȶɽɥƃȈǁȈȶӸȟȈȶǁӝÃƃȶƃǼǉȴǉȶɽԇɰʤƃȢʍƃɽȈɁȶƃɰɰʍȴǉɰɽȃǉǉʯɥǉƺɽǉǁǉʯȈɽɁǹ
the Indicor investment is an initial public offering which is not subject to the liquidation preference. Roper’s approval
is required prior to a sale of Indicor for a value that would trigger the liquidation preference.
The assessment of fair value for this equity investment requires significant judgments to be made by management.
Although our assumptions are considered reasonable and are consistent with the plans and estimates, there is sig-
nificant judgment applied to determine fair value. Changes in estimates or the application of alternative assump-
tions could produce significantly different results. The fair value of the investment reflects management’s estimate
of assumptions that market participants would use in pricing the equity interest, which the Company has deter-
mined to be Level 3 in the FASB fair value hierarchy.
The following table provides a reconciliation of the fair value for our equity investment in Indicor measured using
Level 3 inputs:
Year ended December 31,
2024
2023
Beginning balance
$675.9
$535.0
Change in fair value
96.4
140.9
Ending balance
$772.3
$675.9
ěȃǉ:ɁȴɥƃȶʰɨǉƺǉȈʤǉǁǁȈʤȈǁǉȶǁǁȈɰɽɨȈƹʍɽȈɁȶɰǹɨɁȴȶǁȈƺɁɨɁǹԤіѕӝѝƃȶǁԤјїӝњǁʍɨȈȶǼɽȃǉʰǉƃɨɰǉȶǁǉǁAǉƺǉȴƹǉɨԝјіӗ
2024 and 2023, respectively, which are reported within “Equity investments gain, net” in our Consolidated Statements
of Earnings. These dividend distributions were intended to offset certain cash taxes payable associated with Roper’s
ownership stake and were contemplated in the determination of the fair value for the equity investment in Indicor.
ӭііӮĄKěĄKÃKÇěÇAÝěKĄ9KÇKyěĀ¸ÇČ
Roper maintains three defined contribution retirement plans under the provisions of Section 401(k) of the IRC cover-
ing substantially all U.S. employees. Roper partially matches employee contributions. Costs related to all such plans
were $44.2, $39.1, and $34.1 for 2024, 2023, and 2022, respectively.
ӭіїӮČěÝ:¶ӳ9ČKA:ÝÃĀKÇČěÝÇ
The Roper Technologies, Inc. 2021 Incentive Plan (“2021 Plan”) is a stock-based compensation plan used to grant incen-
tive stock options, nonqualified stock options, restricted stock and restricted stock units (collectively “restricted stock
awards”), stock appreciation rights, or equivalent instruments to Roper’s employees, officers, directors, and consultants.
The 2021 Plan was approved by shareholders at the Annual Meeting of Shareholders on June 14, 2021. The 2021 Plan
replaces the Roper Technologies, Inc. 2016 Incentive Plan, as amended (“2016 Plan”), and no additional grants will be
ȴƃǁǉǹɨɁȴɽȃǉїѕіћĀȢƃȶӝɽAǉƺǉȴƹǉɨԝјіӗїѕїљӗњӝўѕїɰȃƃɨǉɰʥǉɨǉƃʤƃȈȢƃƹȢǉɽɁǼɨƃȶɽʍȶǁǉɨɽȃǉїѕїіĀȢƃȶӝ
Under the Roper Technologies, Inc. Employee Stock Purchase Plan, as amended and restated (“ESPP”), employees
in the U.S. and Canada are allowed to designate up to 10% of eligible earnings to purchase Roper’s common stock at
a 10% discount on the lower of the closing price of the stock on the first and last day of each quarterly offering
period. Common stock sold to employees pursuant to the ESPP may be either treasury stock, stock purchased on
the open market, or newly issued shares.

ĄÝĀKĄěK:ÇÝ¸Ý{KČӓ2024 ANNUAL REPORT
57
Stock-based compensation expense is not allocated to our reportable segments, which are described further in
ÇɁɽǉіљӝČɽɁƺȟӸƹƃɰǉǁƺɁȴɥǉȶɰƃɽȈɁȶǉʯɥǉȶɰǉǹɁɨɽȃǉʰǉƃɨɰǉȶǁǉǁAǉƺǉȴƹǉɨԝјіӗїѕїљӗїѕїјӗƃȶǁїѕїїӗȈȶƺȢʍǁǉǁƃɰƃ
component of “Selling, general and administrative expenses,” was as follows:
2024
2023
2022
Stock-based compensation
$145.9
$123.5
Ԥііќӝѝ
ěƃʯƹǉȶǉˎɽɨǉƺɁǼȶȈ˃ǉǁȈȶȶǉɽǉƃɨȶȈȶǼɰ
ԤԞїљӝѝ
$ 20.4
Ԥіѝӝћ
Stock Options—Stock options are granted at prices not less than 100% of market value of the underlying stock at
the date of grant. Stock options typically vest over a period of three years from the grant date and expire 10 years
ƃǹɽǉɨɽȃǉǼɨƃȶɽǁƃɽǉӝěȃǉ:ɁȴɥƃȶʰɨǉƺɁɨǁǉǁԤјќӝћӗԤјѝӝѕӗƃȶǁԤјѝӝіɁǹƺɁȴɥǉȶɰƃɽȈɁȶǉʯɥǉȶɰǉɨǉȢƃɽȈȶǼɽɁɁʍɽɰɽƃȶǁ-
ing options during 2024, 2023, and 2022, respectively, as a component of corporate general and administrative
expenses.
The Company estimates the fair value of its option awards using the Black-Scholes option valuation model. The
stock volatility for each grant is measured using the weighted average of historical daily price changes of the
Company’s common stock over the most recent period equal to the expected life of the grant. The expected term of
options granted is derived from historical data to estimate option exercises and employee forfeitures, and represents
the period of time that options granted are expected to be outstanding. The risk-free rate is based on the U.S.
Treasury yield curve in effect at the time of grant for the expected life of the option.
The weighted-average fair value of options granted in 2024, 2023, and 2022 were calculated using the following
weighted average assumptions:
2024
2023
2022
Weighted-average fair value ($)
173.21
130.23
116.55
Risk-free interest rate (%)
4.15
3.76
2.19
Expected option life (years)
5.73
5.61
5.63
Expected volatility (%)
25.54
26.05
24.59
Expected dividend yield (%)
0.51
0.63
0.55
The following table summarizes stock option activities, with respect to the Company’s share-based compensation
ɥȢƃȶɰӗǹɁɨɽȃǉʰǉƃɨɰǉȶǁǉǁAǉƺǉȴƹǉɨԝјіӗїѕїљƃȶǁїѕїјӖ
Number of
options
Weighted-
average
exercise
price
Weighted-
average
remaining
contractual
term (years)
Aggregate
intrinsic
value
Outstanding at December 31, 2022
їӝўѝњ
$ 312.34
Granted
ѕӝјѝј
$ 432.77
Exercised
(0.593)
$ 246.77
Canceled
ӯѕӝѕѝќ)
Ԥљїњӝѝѕ
Outstanding at December 31, 2023
їӝћѝѝ
Ԥјљѕӝѝў
6.00
$ 549.1
Granted
ѕӝїѝћ
$ 553.79
Exercised
(0.422)
Ԥїўѝӝѕљ
Canceled
(0.072)
ԤԞљћѝӝќї
Outstanding at December 31, 2024
їӝљѝѕ
Ԥјћѝӝњќ
5.37
Ԥјѝљӝљ
Exercisable at December 31, 2024
іӝћѝѝ
ԤԞјіћӝќќ
4.03
$342.9
ɽAǉƺǉȴƹǉɨԝјіӗїѕїљӗɽȃǉɨǉʥƃɰԤњњӝјɁǹɽɁɽƃȢʍȶɨǉƺɁǼȶȈ˃ǉǁƺɁȴɥǉȶɰƃɽȈɁȶǉʯɥǉȶɰǉɨǉȢƃɽǉǁɽɁȶɁȶʤǉɰɽǉǁɁɥɽȈɁȶɰ
granted under the Company’s stock-based compensation plans. That cost is expected to be recognized over a
ʥǉȈǼȃɽǉǁƃʤǉɨƃǼǉɥǉɨȈɁǁɁǹԝіӝўљʰǉƃɨɰӝěȃǉɽɁɽƃȢȈȶɽɨȈȶɰȈƺʤƃȢʍǉɁǹɁɥɽȈɁȶɰǉʯǉɨƺȈɰǉǁȈȶїѕїљӗїѕїјӗƃȶǁїѕїїʥƃɰ
ԤіѕѝӝўӗԤіјјӝќӗƃȶǁԤўїӝќӗɨǉɰɥǉƺɽȈʤǉȢʰӝ:ƃɰȃɨǉƺǉȈʤǉǁǹɨɁȴɁɥɽȈɁȶǉʯǉɨƺȈɰǉɰʍȶǁǉɨƃȢȢɥȢƃȶɰȈȶїѕїљӗїѕїјӗƃȶǁїѕїїʥƃɰ
$125.7, $146.5, and $110.0, respectively.
Restricted Stock AwardsӴAʍɨȈȶǼїѕїљƃȶǁїѕїјӗɽȃǉ:ɁȴɥƃȶʰǼɨƃȶɽǉǁѕӝљѕїƃȶǁѕӝїѝѕɰȃƃɨǉɰӗɨǉɰɥǉƺɽȈʤǉȢʰӗɁǹ
restricted stock awards to certain employee and director participants under its compensation plans. These awards
were granted at the fair market value of the share on the date of grant. Restricted stock awards granted generally
ʤǉɰɽɁʤǉɨƃɥǉɨȈɁǁɁǹɁȶǉɽɁǹȈʤǉʰǉƃɨɰӝěȃǉ:ɁȴɥƃȶʰɨǉƺɁɨǁǉǁԤіѕњӝќӗԤѝјӝјӗƃȶǁԤќќӝћɁǹƺɁȴɥǉȶɰƃɽȈɁȶǉʯɥǉȶɰǉ
related to outstanding shares of restricted stock awards held by employees and directors during 2024, 2023, and
2022, respectively.

ĄÝĀKĄěK:ÇÝ¸Ý{KČӓ2024 ANNUAL REPORT
58
During 2024, the Company revised its equity compensation strategy to more closely align long-term management
incentives with its strategic objective to deliver and sustain higher levels of organic growth. Accordingly, the total
number of restricted stock awards granted during 2024 increased as compared to 2023 due primarily to the adop-
tion of a supplemental performance-based equity compensation program for the Company’s business unit leader-
ship teams under which 0.137 incremental three-year performance-based restricted stock awards were granted.
In connection with the revised compensation strategy noted above, certain members of the Roper senior leadership
team were granted 0.072 performance-based restricted stock awards during 2024, that include the ability to earn
up to 200% of the number of restricted stock awards originally granted contingent upon Roper’s performance over
a three-year period, subject to a market modifier based on the Company’s ranking of total shareholder return
relative to the other companies within the Standard & Poor’s 500 Stock Index. Comparably, during 2023, 0.074
performance-based restricted stock awards were granted to certain members of Roper’s senior leadership team
which did not contain a market modifier and do not have the ability to vest beyond 100% of the original shares
granted.
Due to the extent of performance required by the vesting conditions noted above, these awards are not expected to
materially increase stock-based compensation expense relative to the Company’s financial performance.
The Company uses a Monte Carlo simulation model to estimate the fair value of its performance-based restricted
stock awards subject to a market modifier. The expected volatility is measured using daily logarithmic changes in
the Company’s historical stock prices over the most recent period equal to the expected term. The expected term is
the term remaining from the grant date to the end of the performance period. The risk-free interest rate is based on
the U.S. Treasury yield curve in effect at the time of grant for the expected term. The fair value of performance-based
restricted stock awards subject to a market modifier granted in 2024 was determined using the following weighted
average assumptions:
2024
Weighted-average grant date fair value ($)
563.00
Risk-free interest rate (%)
4.30
Expected term (years)
їӝѝѕ
Expected volatility (%)
20.12
Expected dividend yield (%)
0.50
The following table summarizes the Company’s restricted stock award activity during 2024 and 2023:
Number of
shares
Weighted-
average
grant date
fair value
Nonvested at December 31, 2022
0.445
Ԥԛԛљіћӝѕѕ
Granted
ѕӝїѝѕ
Ԥԛԛљјўӝќї
Vested
(0.202)
$406.36
Forfeited
ӯѕӝѕѝј)
Ԥԛљјљӝѝќ
Nonvested at December 31, 2023
0.440
Ԥԛԛԛљјіӝўћ
Granted
0.402
Ԥԛԛњњїӝўљ
Vested
(0.229)
Ԥљљњӝѝќ
Forfeited
ӯѕӝѕњѝ)
Ԥԛԛњїїӝљћ
Nonvested at December 31, 2024
0.555
Ԥԛԛԛԛњіњӝќќ
ɽAǉƺǉȴƹǉɨԝјіӗїѕїљӗɽȃǉɨǉʥƃɰԤііјӝѝɁǹɽɁɽƃȢʍȶɨǉƺɁǼȶȈ˃ǉǁƺɁȴɥǉȶɰƃɽȈɁȶǉʯɥǉȶɰǉɨǉȢƃɽǉǁɽɁȶɁȶʤǉɰɽǉǁɨǉɰɽɨȈƺɽǉǁ
stock awards granted to both employees and directors under the Company’s compensation plans. That cost is
ǉʯɥǉƺɽǉǁɽɁƹǉɨǉƺɁǼȶȈ˃ǉǁɁʤǉɨƃʥǉȈǼȃɽǉǁƃʤǉɨƃǼǉɥǉɨȈɁǁɁǹԝіӝќњʰǉƃɨɰӝěȃǉɽɁɽƃȢǼɨƃȶɽǁƃɽǉǹƃȈɨʤƃȢʍǉɁǹɨǉɰɽɨȈƺɽǉǁ
ɰɽɁƺȟƃʥƃɨǁɰʤǉɰɽǉǁǁʍɨȈȶǼїѕїљӗїѕїјӗƃȶǁїѕїїʥƃɰԤіѕїӝїӗԤѝїӝїӗƃȶǁԤўѝӝіӗɨǉɰɥǉƺɽȈʤǉȢʰӝ
Employee Stock Purchase PlanӴAʍɨȈȶǼїѕїљӗїѕїјӗƃȶǁїѕїїӗɥƃɨɽȈƺȈɥƃȶɽɰɁǹɽȃǉKČĀĀɥʍɨƺȃƃɰǉǁѕӝѕјѝӗѕӝѕјѝӗ
ƃȶǁѕӝѕјўɰȃƃɨǉɰӗɨǉɰɥǉƺɽȈʤǉȢʰӗɁǹĄɁɥǉɨԇɰƺɁȴȴɁȶɰɽɁƺȟǹɁɨɽɁɽƃȢƺɁȶɰȈǁǉɨƃɽȈɁȶɁǹԤіѝӝњӗԤіњӝњӗƃȶǁԤіљӝјӗɨǉɰɥǉƺɽȈʤǉȢʰӝ
All of these shares were purchased from Roper’s treasury shares.

ĄÝĀKĄěK:ÇÝ¸Ý{KČӓ2024 ANNUAL REPORT
59
ӭіјӮ:ÝÇěÇ{KÇ:KČ
Roper, in the ordinary course of business, is party to various pending or threatened legal actions, including product
liability, intellectual property, antitrust, data privacy, and employment practices that, in general, are of a nature con-
sistent with those over the past several years. After analyzing the Company’s contingent liabilities on a gross basis
and, based upon past experience with resolution of such legal claims and the availability and limits of the primary,
excess, and umbrella liability insurance coverages with respect to pending claims, management believes that ade-
quate provision has been made to cover any potential liability not covered by insurance, and that the ultimate liabil-
ity, if any, arising from these actions should not have a material adverse effect on Roper’s consolidated financial
position, results of operations, or cash flows. However, no assurances can be given in this regard.
Roper’s subsidiary, PowerPlan, Inc. (“PowerPlan”), was a defendant in an action that was pending in the U.S. District
:ɁʍɨɽǹɁɨɽȃǉÇɁɨɽȃǉɨȶAȈɰɽɨȈƺɽɁǹ{ǉɁɨǼȈƃӯ¸ʍƺƃɰʰɰȶƺӝʤӝĀɁʥǉɨĀȢƃȶӗȶƺӝӗ:ƃɰǉіӖїѕӸƺʤӸѕїўѝќӸěӰȈȶʥȃȈƺȃɽȃǉɥȢƃȈȶ-
tiff, a firm started by former PowerPlan employees, alleged PowerPlan had engaged in, among other things, anti-
competitive practices in violation of federal antitrust law which impacted the plaintiff’s ability to commercialize its
software and services offerings. In January 2025, PowerPlan and the plaintiff agreed to settle the matter and such
was fully concluded and cash settled in January 2025 for $24.0 on a pretax basis ($17.7 after taxes).
ɰɁǹAǉƺǉȴƹǉɨԝјіӗїѕїљӗĄɁɥǉɨȃƃǁԤћӝѝɁǹɁʍɽɰɽƃȶǁȈȶǼȢǉɽɽǉɨɰɁǹƺɨǉǁȈɽȈɰɰʍǉǁɽɁǼʍƃɨƃȶɽǉǉȈɽɰɥǉɨǹɁɨȴƃȶƺǉʍȶǁǉɨ
certain services contracts or to support certain insurance programs and $49.6 of outstanding surety bonds. Certain
contracts require Roper to provide a surety bond as a guarantee of its performance of contractual obligations.
ӭіљӮČK{ÃKÇěÇA{KÝ{ĄĀ:ĄKÇyÝĄÃěÝÇ
Our businesses are 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 are as follows:
Application Software—Aderant, Clinisys, Data Innovations, Deltek, Frontline, IntelliTrans, PowerPlan, Procare, Strata,
Transact/CBORD, 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
The Company’s chief operating decision maker (“CODM”) is a group that consists of the chief executive officer and
the Board of Directors. The CODM uses operating profit to measure segment performance to evaluate resource allo-
cation, primarily related to capital deployment towards business acquisitions, as such decisions are made by our
chief executive officer and board of directors collectively.
There were no material transactions between Roper’s reportable segments during 2024, 2023, and 2022. Operating
profit by reportable segment is defined as net revenues less operating costs and expenses. These costs and expenses
do not include unallocated corporate general and administrative expenses or enterprise-wide stock-based compen-
sation. Items below “Income from operations” in Roper’s Consolidated Statements of Earnings are not allocated to
reportable segments.
Corporate assets are principally comprised of cash and cash equivalents, income taxes receivable, deferred tax
assets, deferred compensation assets, equity investments, and property and equipment.
Selected financial information by reportable segment for 2024, 2023, and 2022 was as follows:
Application
Software
Network
Software
Technology
Enabled
Products
Corporate
Total
2024
Net revenues
Ԥјӗѝћѝӝј
$ 1,475.6
$1,695.3
$ —
$ 7,039.2
Cost of sales
1,220.7
їїѕӝѝ
719.4
—
2,160.9
Selling, general and administrative expenses
1,624.2
њѝѝӝј
401.6
267.4
їӗѝѝіӝњ
ÝɥǉɨƃɽȈȶǼɥɨɁˎɽ
$ 1,023.4
$ 666.5
$ 574.3
$(267.4)
Ԥіӗўўћӝѝ
Depreciation and other amortization expense
Ԥћїѝӝѝ
$ 161.0
$ 21.7
$ 1.3
Ԥѝіїӝѝ
Total assets
$23,600.9
Ԥњӗјљѝӝѕ
ԤԛԞіӗљўѝӝі
Ԥѝѝќӝќ
$31,334.7
Capital expenditures
Ԥіќӝѝ
Ԥљӝѝ
$ 11.7
$ 31.7
$ 66.0
Capitalized software expenditures
$ 43.7
$ 1.3
$ —
$ —
$ 45.0

ĄÝĀKĄěK:ÇÝ¸Ý{KČӓ2024 ANNUAL REPORT
60
Application
Software
Network
Software
Technology
Enabled
Products
Corporate
Total
2023
Net revenues
Ԥјӗіѝћӝў
Ԥԛԛіӗљјўӝљ
Ԥԛԛіӗњњіӝњ
$ —
Ԥћӗіќќӝѝ
Cost of sales
991.1
їіјӝѝ
665.7
—
іӗѝќѕӝћ
Selling, general and administrative expenses
1,375.0
593.2
367.1
226.7
2,562.0
ÝɥǉɨƃɽȈȶǼɥɨɁˎɽ
Ԥѝїѕӝѝ
$ 632.4
Ԥњіѝӝќ
Ԥԛԛӯїїћӝќ)
$ 1,745.2
Depreciation and other amortization expense
$ 563.0
$ 162.5
$ 29.1
$ 0.6
$ 755.2
Total assets
$20,350.9
Ԥԛњӗјћјӝѝ
ԤԞіӗљѝњӝћ
$ 967.2
Ԥїѝӗіћќӝњ
Capital expenditures
$ 20.1
$ 6.4
Ԥіјӝѝ
$ 27.7
Ԥћѝӝѕ
Capitalized software expenditures
$ 39.5
$ 0.5
$ —
$ —
$
40.0
2022
Net revenues
$ 2,639.5
Ԥԛԛіӗјќѝӝњ
Ԥԛіӗјњјӝѝ
$ —
Ԥњӗјќіӝѝ
Cost of sales
ѝїјӝї
212.9
њѝїӝў
—
1,619.0
Selling, general and administrative expenses
1,102.3
595.0
јїіӝѝ
209.2
їӗїїѝӝј
ÝɥǉɨƃɽȈȶǼɥɨɁˎɽ
$ 714.0
$ 570.6
$ 449.1
Ԥԛӯїѕўӝї)
$ 1,524.5
Depreciation and other amortization expense
Ԥљњњӝѝ
$ 164.2
Ԥїўӝѝ
$ 0.3
$ 650.1
Total assets
Ԥԛԛԛіѝӗќїјӝј
ԤԞњӗљћќӝљ
Ԥԛіӗњѕїӝќ
Ԥіӗїѝќӝљ
Ԥїћӗўѝѕӝѝ
Capital expenditures
$ 20.7
Ԥѝӝѝ
$ 9.2
$ 1.4
$ 40.1
Capitalized software expenditures
Ԥїѝӝњ
$ 1.7
$ —
$ —
$ 30.2
Summarized long-lived assets information for Roper’s U.S. and foreign operations (principally in Canada, Europe, and
Asia) for 2024, 2023, and 2022 was as follows:
2024
2023
2022
United States
$ 303.4
$ 251.1
$ 196.5
Non-U.S.
23.9
20.1
17.1
Total long-lived assets
$ 327.3
$ 271.2
$ 213.6
Sales to customers outside of the U.S. accounted for a significant portion of Roper’s net revenues. Sales are attributed
to geographic areas based upon the location where the product is ultimately delivered. Roper’s net revenues for the
ʰǉƃɨɰǉȶǁǉǁAǉƺǉȴƹǉɨԝјіӗїѕїљӗїѕїјӗƃȶǁїѕїїƃɨǉɰȃɁʥȶƹǉȢɁʥƹʰɨǉǼȈɁȶӗǉʯƺǉɥɽǹɁɨɽȃǉĩӝČӝƃȶǁ:ƃȶƃǁƃӗʥȃȈƺȃ
are presented separately:
2024
2023
2022
United States
$6,063.3
$5,304.4
$4,565.3
Canada
їѝѝӝј
254.6
222.3
Europe
495.1
453.2
424.6
Asia
74.1
75.1
73.3
Rest of the world
ііѝӝљ
90.5
ѝћӝј
Total net revenues
Ԥԛќӗѕјўӝї
Ԥћӗіќќӝѝ
$ њӗјќіӝѝ
ӭіњӮ:ÝÇ:KÇěĄěÝÇÝyĄČ¶
Financial instruments which potentially subject the Company to credit risk consist primarily of cash and cash equiv-
alents, accounts receivable, and unbilled receivables.
The Company maintains cash and cash equivalents with various major financial institutions around the world. The
Company limits the amount of credit exposure with any one financial institution and believes that no significant
concentration of credit risk exists with respect to cash and cash equivalent balances.
Accounts receivable and unbilled receivables subject the Company to the potential for credit risk with customers. To
reduce credit risk, the Company performs ongoing evaluations of its customers’ financial condition.

ĄÝĀKĄěK:ÇÝ¸Ý{KČӓ2024 ANNUAL REPORT
61
ӭіћӮ:ÝÇěĄ:ě9¸Ç:KČ
Contract balances at December 31 are set forth in the following table:
Balance sheet account
2024
2023
Change
Unbilled receivables
$ 127.3
$ 106.4
$ 20.9
Deferred revenue—current
(1,737.4)
ӯіӗњѝјӝѝ)
(153.6)
Deferred revenue—non-current
(154.7)
(130.7)
(24.0)
Net contract assets/(liabilities)
Ԥӯіӗќћљӝѝ)
Ԥԛӯіӗћѕѝӝі)
$(156.7)
ěȃǉƺȃƃȶǼǉȈȶɁʍɨȶǉɽƺɁȶɽɨƃƺɽƃɰɰǉɽɰӣӯȢȈƃƹȈȢȈɽȈǉɰӰǹɨɁȴAǉƺǉȴƹǉɨјіӗїѕїјɽɁAǉƺǉȴƹǉɨԝјіӗїѕїљʥƃɰɥɨȈȴƃɨȈȢʰǁʍǉɽɁ
the timing of payments and invoicing related to SaaS and post-contract support (PCS) renewals as well as net con-
tract liabilities assumed of approximately $69 associated with the acquisitions completed during 2024, most notably
Transact.
ĄǉʤǉȶʍǉɨǉƺɁǼȶȈ˃ǉǁǁʍɨȈȶǼɽȃǉʰǉƃɨɰǉȶǁǉǁAǉƺǉȴƹǉɨԝјіӗїѕїљƃȶǁїѕїјɽȃƃɽʥƃɰȈȶƺȢʍǁǉǁȈȶɽȃǉǁǉǹǉɨɨǉǁɨǉʤǉȶʍǉ
balance on December 31, 2023 and 2022 was $1,546.5 and $1,322.0, respectively. In order to determine revenues
recognized in the period from contract liabilities, we allocate revenue to the individual deferred revenue balance
outstanding at the beginning of the year until the revenue exceeds that balance.
Impairment losses recognized on our accounts receivable and unbilled receivables were immaterial in each of the
ʰǉƃɨɰǉȶǁǉǁAǉƺǉȴƹǉɨԝјіӗїѕїљӗїѕїјӗƃȶǁїѕїїӗɨǉɰɥǉƺɽȈʤǉȢʰӝ
ӭіќӮ¸KČKČ
The Company’s operating leases are primarily for real property in support of our business operations. Although
many of our leases contain renewal options, we generally are not reasonably certain to exercise these options at the
commencement date. Accordingly, renewal options are generally not included in the lease term for determining the
right-of-use (“ROU”) asset and lease liability at commencement. Variable lease payments generally depend on an
inflation-based index and such payments are not included in the original estimate of the lease liability. These vari-
able lease payments are not material.
yɁɨɽȃǉʰǉƃɨɰǉȶǁǉǁAǉƺǉȴƹǉɨԝјіӗїѕїљӗїѕїјӗƃȶǁїѕїїӗɽȃǉ:ɁȴɥƃȶʰɨǉƺɁǼȶȈ˃ǉǁԤњјӝўӗԤњѕӝћӗƃȶǁԤљѝӝќɁǹɁɥǉɨƃɽ-
ing lease expense, respectively.
The following table presents the supplemental cash flow information related to the Company’s operating leases for
the years ended December 31:
2024
2023
2022
ÝɥǉɨƃɽȈȶǼƺƃɰȃːɁʥɰʍɰǉǁǹɁɨɁɥǉɨƃɽȈȶǼȢǉƃɰǉɰ
Ԥԛњјӝћ
$50.6
$ љѝӝј
Right-of-use assets obtained in exchange for operating lease obligations
ԤԞњїӝљ
Ԥԛїўӝћ
Ԥԛњјӝў
The following table presents the lease balances within the Consolidated Balance Sheets related to the Company’s
ɁɥǉɨƃɽȈȶǼȢǉƃɰǉɰƃɰɁǹԝAǉƺǉȴƹǉɨјіӖ
Lease assets and liabilities
Balance sheet account
2024
2023
ASSETS:
Operating lease ROU assets
Other assets
Ԥіѝўӝљ
$ іѝўӝѝ
LIABILITIES:
Current operating lease liabilities
Other accrued liabilities
46.2
43.3
Operating lease liabilities
Other liabilities
іњљӝѝ
іњѝӝќ
Total operating lease liabilities
$201.0
$202.0

ĄÝĀKĄěK:ÇÝ¸Ý{KČӓ2024 ANNUAL REPORT
62
Future minimum lease payments under non-cancellable leases were as follows:
2025
$ 51.7
2026
43.6
2027
36.5
їѕїѝ
їѝӝќ
2029
20.3
Thereafter
41.1
Total operating lease payments
221.9
Less: Imputed interest
(20.9)
Total operating lease liabilities
$201.0
Weighted average remaining lease term—operating leases (years)
њӝѝ
Weighted average discount rate (%)
3.6
ӭіѝӮĂĩĄěKĄ¸ťyÇÇ:¸AěӭĩÇĩAěKAӮ
The unaudited interim financial information below has been adjusted to incorporate the presentation of discontin-
ued operations. Refer to Note 3 for further information regarding discontinued operations.
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
2024
Net revenues
Ԥіӗћѝѕӝќ
ԤԞіӗќіћӝѝ
ԤԞіӗќћљӝћ
Ԥіӗѝќќӝі
{ɨɁɰɰɥɨɁˎɽ
Ԥіӗіѝіӝѕ
Ԥԛіӗіўјӝј
$ 1,221.7
Ԥіӗїѝїӝј
Income from operations
Ԥљѝіӝј
Ԥԛԛљўљӝї
$ 496.6
$ 524.7
Net earnings
Ԥјѝїӝѕ
$ 337.1
$ 367.9
$ 462.3
Net earnings per share:
Basic
$ 3.57
$ 3.15
$ 3.43
$ 4.31
Diluted
$ 3.54
$ 3.12
$ 3.40
Ԥљӝїѝ
2023
Net revenues
ԤԛԞіӗљћўӝќ
Ԥԛԛіӗњјіӝї
Ԥԛіӗњћјӝљ
Ԥԛԛіӗћіјӝњ
{ɨɁɰɰɥɨɁˎɽ
Ԥіӗѕіѝӝћ
Ԥԛіӗѕћќӝі
$1,096.3
Ԥԛԛіӗіїњӝї
Income from operations
$ 401.0
$ 435.3
ԤԞљљћӝі
Ԥљћїӝѝ
Net earnings from continuing operations
Ԥїѝљӝј
$ 361.0
$ 345.6
$ 377.5
Net earnings (loss) from discontinued operations
$ (1.2)
$ 3.9
$ 1.6
$ 11.5
Net earnings
Ԥїѝјӝі
$ 364.9
$ 347.2
Ԥјѝўӝѕ
Net earnings per share from continuing operations:
Basic
$ 2.67
Ԥјӝјѝ
$ 3.23
$ 3.53
Diluted
$ 2.66
$ 3.36
$ 3.21
$ 3.50
Net earnings (loss) per share from discontinued operations:
Basic
$ (0.01)
$ 0.04
$ 0.02
$ 0.11
Diluted
$ (0.01)
$ 0.04
$ 0.02
$ 0.11
Net earnings per share:
Basic
$ 2.66
$ 3.42
$ 3.25
$ 3.64
Diluted
$ 2.65
$ 3.40
$ 3.23
$ 3.61
The sum of the four quarters may not agree with the total for the year due to rounding.

ĄÝĀKĄěK:ÇÝ¸Ý{KČӓ2024 ANNUAL REPORT
63
ITEM 9 | CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING
AND FINANCIAL DISCLOSURE
None.
ITEM 9A | CONTROLS AND PROCEDURES
MANAGEMENT’S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING
Our management is responsible for establishing and maintaining adequate control over financial reporting, as such
term is defined in Exchange Act Rules 13a-15(f) and 15d-15(f). Under the supervision and with the participation of our
management, including our principal executive officer and principal financial officer, we conducted an evaluation of
the effectiveness of our internal control over financial reporting based on the framework in Internal Control—
Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission.
Based on our evaluation under the framework in Internal Control—Integrated Framework, our management con-
ƺȢʍǁǉǁɽȃƃɽɁʍɨȈȶɽǉɨȶƃȢƺɁȶɽɨɁȢɁʤǉɨǹȈȶƃȶƺȈƃȢɨǉɥɁɨɽȈȶǼʥƃɰǉǹǹǉƺɽȈʤǉƃɰɁǹAǉƺǉȴƹǉɨԝјіӗїѕїљӝÝʍɨȈȶɽǉɨȶƃȢƺɁȶɽɨɁȢ
ɁʤǉɨǹȈȶƃȶƺȈƃȢɨǉɥɁɨɽȈȶǼƃɰɁǹAǉƺǉȴƹǉɨԝјіӗїѕїљȃƃɰƹǉǉȶƃʍǁȈɽǉǁƹʰĀɨȈƺǉʥƃɽǉɨȃɁʍɰǉ:ɁɁɥǉɨɰ¸¸ĀӗƃȶȈȶǁǉɥǉȶǁǉȶɽ
registered public accounting firm, as stated in their report which is included herein.
Our management excluded the four acquisitions completed during 2024 from its assessment of internal control
Ɂʤǉɨ ǹȈȶƃȶƺȈƃȢ ɨǉɥɁɨɽȈȶǼ ƃɰ Ɂǹ Aǉƺǉȴƹǉɨԝ јіӗ їѕїљӝԝ ěȃǉɰǉ ƃƺɧʍȈɰȈɽȈɁȶɰ ƃɨǉ ʥȃɁȢȢʰӸɁʥȶǉǁ ɰʍƹɰȈǁȈƃɨȈǉɰ ʥȃɁɰǉ ɽɁɽƃȢ
assets (excluding goodwill and other identifiable intangibles, which are included within the scope of the assess-
ment) represent less than 1%, and whose aggregate total revenues represent approximately 5%, of the related
:ɁȶɰɁȢȈǁƃɽǉǁyȈȶƃȶƺȈƃȢČɽƃɽǉȴǉȶɽƃȴɁʍȶɽɰƃɰɁǹƃȶǁǹɁɨɽȃǉʰǉƃɨǉȶǁǉǁAǉƺǉȴƹǉɨԝјіӗїѕїљӝ
EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES
As required by SEC rules, we have evaluated the effectiveness of the design and operation of our disclosure controls
and procedures as of the end of the period covered by this report. This evaluation was carried out under the super-
vision and with the participation of our management, including our principal executive officer and principal financial
officer. Based on this evaluation, we have concluded that our disclosure controls and procedures were effective as of
Aǉƺǉȴƹǉɨԝјіӗїѕїљӝ
Disclosure controls and procedures are our controls and other procedures designed to ensure that information
required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed,
summarized, and reported within the time periods specified in the SEC’s rules and forms. Disclosure controls and
procedures include, without limitation, controls and procedures designed to ensure that information required to be
disclosed by us in the reports that we file or submit under the Exchange Act are accumulated and communicated
to our management, including our principal executive officer and principal financial officer, as appropriate, to allow
timely decisions regarding required disclosure.
CHANGES IN INTERNAL CONTROL OVER FINANCIAL REPORTING
There was no change in our internal control over financial reporting that occurred during the fourth quarter of 2024
that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.
ITEM 9B | OTHER INFORMATION
AʍɨȈȶǼɽȃǉɽȃɨǉǉȴɁȶɽȃɰǉȶǁǉǁAǉƺǉȴƹǉɨԝјіӗїѕїљӗȶɁǁȈɨǉƺɽɁɨɁɨɁǹǹȈƺǉɨɁǹɽȃǉ:ɁȴɥƃȶʰƃǁɁɥɽǉǁɁɨɽǉɨȴȈȶƃɽǉǁƃ
ԄĄʍȢǉіѕƹњӸіɽɨƃǁȈȶǼƃɨɨƃȶǼǉȴǉȶɽԅɁɨԄȶɁȶӸĄʍȢǉіѕƹњӸіɽɨƃǁȈȶǼƃɨɨƃȶǼǉȴǉȶɽӗԅƃɰǉƃƺȃɽǉɨȴȈɰǁǉǹȈȶǉǁȈȶɽǉȴљѕѝɁǹ
Regulation S-K.
ITEM 9C | DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT
INSPECTIONS
None.

ĄÝĀKĄěK:ÇÝ¸Ý{KČӓ2024 ANNUAL REPORT
64
PART III
KʯƺǉɥɽƃɰɁɽȃǉɨʥȈɰǉȈȶǁȈƺƃɽǉǁӗɽȃǉǹɁȢȢɁʥȈȶǼȈȶǹɁɨȴƃɽȈɁȶɨǉɧʍȈɨǉǁƹʰɽȃǉȶɰɽɨʍƺɽȈɁȶɰɽɁyɁɨȴԝіѕӸ¶ȈɰȈȶƺɁɨɥɁɨƃɽǉǁ
herein by reference from the sections of the Roper Proxy Statement for the annual meeting of shareholders (“2025
Proxy Statement”), which we anticipate filing with the SEC within 120 days after the end of the fiscal year to which
this report relates, as specified below:
ITEM 10 | DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE
ěȃǉ ȈȶǹɁɨȴƃɽȈɁȶ ƃƹɁʍɽ Ɂʍɨ ǁȈɨǉƺɽɁɨɰ ɨǉɧʍȈɨǉǁ ƹʰ ɽȃȈɰԝ Item 10—Directors, Executive Officers and Corporate
GovernanceԝȈɰƺɁȶɽƃȈȶǉǁȈȶɽȃǉїѕїњĀɨɁʯʰČɽƃɽǉȴǉȶɽʍȶǁǉɨɽȃǉƺƃɥɽȈɁȶԄĀɨɁɥɁɰƃȢіӖKȢǉƺɽȈɁȶɁǹAȈɨǉƺɽɁɨɰӝԅ
Information regarding our audit committee is contained in the 2025 Proxy Statement under the captions “Corporate
Governance” and “Board Committees and Meetings.”
If applicable, information required under this Item with respect to compliance with Section 16(a) of the Exchange Act
will be included in the Proxy Statement under the caption “Delinquent Section 16(a) Reports,” which information is
incorporated by reference.
Information required under this Item with respect to Executive Officers of the Company is included as a supplemen-
tal item at the end of Part I of this report.
Code of Ethics
Roper has a code of ethics for directors, officers (including the Company’s principal executive officer, principal finan-
cial officer, and principal accounting officer), and employees. The Code of Ethics is available on the Company’s web-
site at www.ropertech.com/code-of-ethics. The Company posts any amendments to its Code of Ethics or waivers of
its Code of Ethics (to the extent applicable to the Company’s directors, executive officers, or senior financial officers)
at the same location on the Company’s website. In addition, copies of the Code of Ethics may be obtained in print
without charge upon written request by any stockholder to the Company’s Corporate Secretary at 6496 University
Parkway, Sarasota, Florida 34240.
Securities Transaction Compliance Program
Roper has adopted a securities transaction compliance program applicable to its directors, officers and employees,
and has implemented procedures for Roper, governing the purchase, sale, and other disposition of Roper’s securi-
ties. Roper believes its insider trading policy and procedures are reasonably designed to promote compliance with
insider trading laws, rules and regulations, and listing standards applicable to Roper. A copy of the Roper Technologies,
Inc. Securities Transaction Compliance Program is filed as Exhibit 19.1 to this Annual Report.
ITEM 11 | EXECUTIVE COMPENSATION
ěȃǉȈȶǹɁɨȴƃɽȈɁȶɨǉɧʍȈɨǉǁƹʰɽȃȈɰԝItem 11—Executive CompensationԝȈɰƺɁȶɽƃȈȶǉǁȈȶɽȃǉїѕїњĀɨɁʯʰČɽƃɽǉȴǉȶɽʍȶǁǉɨ
the captions “Compensation Discussion and Analysis,” “Executive Compensation,” “Director Compensation,”
“Compensation Committee Report,” and “Compensation Committee Interlocks and Insider Participation.”
ITEM 12 | SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND
MANAGEMENT AND RELATED STOCKHOLDER MATTERS
ӭ¸¸ČĄKÃÝĩÇěČĄKÇÃ¸¸ÝÇČӮ
ÝɽȃǉɨɽȃƃȶƃɰɰǉɽǹɁɨɽȃƹǉȢɁʥӗɽȃǉȈȶǹɁɨȴƃɽȈɁȶɨǉɧʍȈɨǉǁƹʰɽȃȈɰ Item 12—Security Ownership of Certain Beneficial
Owners and Management and Related Stockholder MattersԝƃȶǁȶɁɽɁɽȃǉɨʥȈɰǉɰǉɽǹɁɨɽȃƹǉȢɁʥȈɰƺɁȶɽƃȈȶǉǁȈȶɽȃǉ
2025 Proxy Statement under the caption “Beneficial Ownership.”

ĄÝĀKĄěK:ÇÝ¸Ý{KČӓ2024 ANNUAL REPORT
65
SECURITIES AUTHORIZED FOR ISSUANCE UNDER EQUITY COMPENSATION PLANS
ěȃǉǹɁȢȢɁʥȈȶǼɽƃƹȢǉɥɨɁʤȈǁǉɰȈȶǹɁɨȴƃɽȈɁȶƃɰɁǹAǉƺǉȴƹǉɨԝјіӗїѕїљɨǉǼƃɨǁȈȶǼƺɁȴɥǉȶɰƃɽȈɁȶɥȢƃȶɰӯȈȶƺȢʍǁȈȶǼȈȶǁȈʤȈǁʍƃȢ
compensation arrangements) under which our equity securities are authorized for issuance:
Plan Category
(a)
Number of
Securities to
be Issued Upon
Exercise of
Outstanding
Options, Warrants
and Rights
(b)
Weighted-Average
Exercise Price of
Outstanding
Options, Warrants
and Rights
(c)
Number of Securities
Remaining Available for
Future Issuance under
Equity Compensation
Plans (Excluding
ČǉƺʍɨȈɽȈǉɰĄǉːǉƺɽǉǁȈȶ
Column (a))
Equity Compensation Plans Approved by Shareholders(1)
Stock options
їӝљѝѕ
Ԥјћѝӝњќ
Restricted stock awards(2)
0.555
—
Subtotal
3.035
5.902
Equity Compensation Plans Not Approved by Shareholders
—
—
—
Total
3.035
$
—
5.902
(1) Consists of the Amended and Restated 2006 Incentive Plan, the 2016 Incentive Plan, as amended, and the 2021 Incentive Plan. No additional
awards may be granted under the 2006 Incentive Plan or the 2016 Incentive Plan.
(2) The weighted-average exercise price is not applicable to restricted stock awards.
ITEM 13 | CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR
INDEPENDENCE
ěȃǉ ȈȶǹɁɨȴƃɽȈɁȶ ɨǉɧʍȈɨǉǁ ƹʰ ɽȃȈɰԝ Item 13—Certain Relationships and Related Transactions, and Director
IndependenceԝȈɰƺɁȶɽƃȈȶǉǁȈȶɽȃǉїѕїњĀɨɁʯʰČɽƃɽǉȴǉȶɽʍȶǁǉɨɽȃǉƺƃɥɽȈɁȶɰԄAȈɨǉƺɽɁɨȶǁǉɥǉȶǁǉȶƺǉԅƃȶǁԄĄǉʤȈǉʥ
and Approval of Related Person Transactions.”
ITEM 14 | PRINCIPAL ACCOUNTANT FEES AND SERVICES
ěȃǉȈȶǹɁɨȴƃɽȈɁȶɨǉɧʍȈɨǉǁƹʰɽȃȈɰԝItem 14—Principal Accountant Fees and ServicesԝȈɰƺɁȶɽƃȈȶǉǁȈȶɽȃǉїѕїњĀɨɁʯʰ
Statement under the captions “Proposal 3: Ratification of the Appointment of PricewaterhouseCoopers LLP as our
Independent Registered Public Accounting Firm for the Year Ending December 31, 2025” and “Independent Public
Accountant’s Fees.”

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66
PART IV
ITEM 15 | EXHIBITS AND FINANCIAL STATEMENT SCHEDULES
(a)
The following documents are filed as a part of this Annual Report.
(1) Consolidated Financial Statements: The following Consolidated Financial Statements are included in Part II,
ɽǉȴѝɁǹɽȃȈɰɨǉɥɁɨɽӝ
Consolidated Balance Sheets as of December 31, 2024 and 2023
Consolidated Statements of Earnings for the Years ended December 31, 2024, 2023, and 2022
Consolidated Statements of Comprehensive Income for the Years ended December 31, 2024, 2023, and 2022
Consolidated Statements of Stockholders’ Equity for the Years ended December 31, 2024, 2023, and 2022
Consolidated Statements of Cash Flows for the Years ended December 31, 2024, 2023, and 2022
Notes to Consolidated Financial Statements
(b)
Exhibits
Exhibit No.
Description of Exhibit
(a)2.1
Equity Purchase Agreement by and among RIPIC Holdco Inc., Roper International Holding, Inc., RIPIC
Equity LLC, CD&R Tree Delaware Holdings, L.P. AND, solely for purposes of section 6.25, Roper
Technologies, Inc. dated as of May 29, 2022.*
(b)јӝі
ȴǉȶǁǉǁƃȶǁĄǉɰɽƃɽǉǁ:ǉɨɽȈˎƺƃɽǉɁǹȶƺɁɨɥɁɨƃɽȈɁȶǉǹǹǉƺɽȈʤǉƃɰɁǹ°ʍȶǉіјӗїѕїјӝ
(c)3.2
Amended and Restated By-Laws.
(d)4.1
ȶǁǉȶɽʍɨǉƹǉɽʥǉǉȶĄǉǼȈɰɽɨƃȶɽƃȶǁŚǉȢȢɰyƃɨǼɁ9ƃȶȟӗǁƃɽǉǁƃɰɁǹʍǼʍɰɽљӗїѕѕѝӝ
(e)љӝї
ȶǁǉȶɽʍɨǉƹǉɽʥǉǉȶĄǉǼȈɰɽɨƃȶɽƃȶǁŚǉȢȢɰyƃɨǼɁ9ƃȶȟӗǁƃɽǉǁƃɰɁǹÇɁʤǉȴƹǉɨїћӗїѕіѝӝ
(f)4.3
Form of Note.
(g)љӝљ
yɁɨȴɁǹљӝїѕѕՐČǉȶȈɁɨÇɁɽǉɰǁʍǉїѕїѝӝ
(h)љӝњ
yɁɨȴɁǹјӝѝњѕՐČǉȶȈɁɨÇɁɽǉɰǁʍǉїѕїњӝ
(i)љӝћ
yɁɨȴɁǹјӝѝѕѕՐČǉȶȈɁɨÇɁɽǉɰǁʍǉїѕїћӝ
(j)4.7
Form of 2.950% Senior Notes due 2029.
(k)љӝѝ
Form of 2.000% Senior Notes due 2030.
(l)4.9
Form of 1.000% Senior Notes due 2025.
(l)4.10
Form of 1.400% Senior Notes due 2027.
(l)4.11
Form of 1.750% Senior Notes due 2031.
(m)4.12
Form of 4.500% Senior Notes due 2029.
(m)4.13
Form of 4.750% Senior Notes due 2032.
(m)4.14
Form of 4.900% Senior Notes due 2034.
4.15
Description of Registrant’s Securities Registered Pursuant to Section 12 of the Securities Exchange
ƺɽɁǹіўјљӗˎȢǉǁȃǉɨǉʥȈɽȃӝ
(n)10.1
Employee Stock Purchase Plan, as Amended and Restated. †
(o)іѕӝї
ÇɁȶӸĂʍƃȢȈˎǉǁĄǉɽȈɨǉȴǉȶɽĀȢƃȶӗƃɰȴǉȶǁǉǁƃȶǁĄǉɰɽƃɽǉǁӝո
(p)10.3
Credit Agreement dated as of July 21, 2022, among Roper, the foreign subsidiary borrowers from time
ɽɁɽȈȴǉɥƃɨɽʰɽȃǉɨǉɽɁӗɽȃǉˎȶƃȶƺȈƃȢȈȶɰɽȈɽʍɽȈɁȶɰɥƃɨɽʰɽȃǉɨǉɽɁӗ°ĀÃɁɨǼƃȶ:ȃƃɰǉ9ƃȶȟӗÇӝӝӗƃɰƃǁȴȈȶȈɰ-
trative agent, Bank of America, N.A. and Wells Fargo Bank, N.A., as syndication agents, and Mizuho
Bank, Ltd., MUFG Bank, Ltd., PNC Bank, National Association, TD Bank, N.A., Truist Bank and U.S.
Bank, National Association, as documentation agents.
(q)10.4
Amended and Restated 2006 Incentive Plan. †
(r)10.5
Form of Non-Statutory Stock Option Agreement, under the 2006 Incentive Plan. †

ĄÝĀKĄěK:ÇÝ¸Ý{KČӓ2024 ANNUAL REPORT
67
(s)10.6
Offer Letter to John K. Stipancich. †
(t)іѕӝќ
yɁɨȴɁǹǁȈɨǉƺɽɁɨƃȶǁɁǹˎƺǉɨȶǁǉȴȶȈˎƺƃɽȈɁȶǼɨǉǉȴǉȶɽӝո
(u)іѕӝѝ
їѕіћȶƺǉȶɽȈʤǉĀȢƃȶӝո
(v)10.9
Amendment No. 1 to the 2016 Incentive Plan. †
(v)10.10
Form of Cash-Settled Restricted Stock Unit Award Agreement for Non-US Employees, under the 2016
Incentive Plan. †
(w)10.11
Form of Non-Statutory Stock Option Agreement, under the 2016 Incentive Plan. †
(w)10.12
Form of Time-Based Restricted Stock Award Agreement, under the 2016 Incentive Plan. †
(w)10.13
Form of Performance-Based Restricted Stock Award Agreement, under the 2016 Incentive Plan. †
(x)10.14
Offer Letter to Neil Hunn. †
(y)10.15
Long-Term Incentive Opportunity Agreement for Neil Hunn. †
(z)10.16
2021 Incentive Plan. †
(z)10.17
Form of Performance-Based Restricted Stock Award Agreement, under the 2021 Incentive Plan. †
(z)іѕӝіѝ
yɁɨȴɁǹÇɁȶӸČɽƃɽʍɽɁɨʰČɽɁƺȟÝɥɽȈɁȶǼɨǉǉȴǉȶɽӗʍȶǁǉɨɽȃǉїѕїіȶƺǉȶɽȈʤǉĀȢƃȶӝո
(z)10.19
Form of Time-Based Restricted Stock Award Agreement, under the 2021 Incentive Plan. †
(aa)10.20
Form of Performance Share Unit Award Agreement, under the 2021 Incentive Plan. †
(bb)10.21
Form of Time-Based Restricted Stock Unit Award Agreement, for use commencing in 2024 under the
2021 Incentive Plan. †
(bb)іѕӝїї
yɁɨȴɁǹKʯǉƺʍɽȈʤǉÝǹˎƺǉɨĀǉɨǹɁɨȴƃȶƺǉČȃƃɨǉĩȶȈɽʥƃɨǁǼɨǉǉȴǉȶɽӗǹɁɨʍɰǉƺɁȴȴǉȶƺȈȶǼȈȶїѕїљ
under the 2021 Incentive Plan. †
(bb)10.23
Form of Senior Management Performance Share Unit Award Agreement, for use commencing in
2024 under the 2021 Incentive Plan. †
(cc)10.24
Roper Technologies, Inc. Director Compensation Plan. †
(cc)10.25
Form of Non-Employee Director Restricted Stock Unit Award Agreement, under the 2021 Incentive
Plan (included in Exhibit 10.24). †
(cc)10.26
Form of Non-Employee Director Restricted Stock Award Agreement, under the 2021 Incentive Plan
(included in Exhibit 10.24). †
(dd)10.27
Separation Agreement and Full Release dated December 13, 2022 by and between Roper Technologies,
Inc. and Robert Crisci. †
(dd)іѕӝїѝ
ČǉɨʤȈƺǉĀɨɁʤȈǁǉɨǼɨǉǉȴǉȶɽǁƃɽǉǁAǉƺǉȴƹǉɨіјӗїѕїїƹʰƃȶǁƹǉɽʥǉǉȶĄɁɥǉɨěǉƺȃȶɁȢɁǼȈǉɰӗȶƺӝƃȶǁ
Robert Crisci. †
іўӝі
ĄɁɥǉɨěǉƺȃȶɁȢɁǼȈǉɰӗȶƺӝČǉƺʍɨȈɽȈǉɰěɨƃȶɰƃƺɽȈɁȶ:ɁȴɥȢȈƃȶƺǉĀɨɁǼɨƃȴӗˎȢǉǁȃǉɨǉʥȈɽȃӝ
їіӝі
¸ȈɰɽɁǹČʍƹɰȈǁȈƃɨȈǉɰӗˎȢǉǁȃǉɨǉʥȈɽȃӝ
їјӝі
:ɁȶɰǉȶɽɁǹȶǁǉɥǉȶǁǉȶɽĄǉǼȈɰɽǉɨǉǁĀʍƹȢȈƺƺƺɁʍȶɽƃȶɽɰӗˎȢǉǁȃǉɨǉʥȈɽȃӝ
јіӝі
ĄʍȢǉіјƃӸіљӯƃӰӣіњǁӸіљӯƃӰ:ǉɨɽȈˎƺƃɽȈɁȶɁǹɽȃǉ:ȃȈǉǹKʯǉƺʍɽȈʤǉÝǹˎƺǉɨӗˎȢǉǁȃǉɨǉʥȈɽȃӝ
31.2
ĄʍȢǉіјƃӸіљӯƃӰӣіњǁӸіљӯƃӰ:ǉɨɽȈˎƺƃɽȈɁȶɁǹɽȃǉ:ȃȈǉǹyȈȶƃȶƺȈƃȢÝǹˎƺǉɨӗˎȢǉǁȃǉɨǉʥȈɽȃӝ
јїӝі
ČǉƺɽȈɁȶіјњѕ:ǉɨɽȈˎƺƃɽȈɁȶɁǹɽȃǉ:ȃȈǉǹKʯǉƺʍɽȈʤǉƃȶǁ:ȃȈǉǹyȈȶƃȶƺȈƃȢÝǹˎƺǉɨɰӗǹʍɨȶȈɰȃǉǁȃǉɨǉʥȈɽȃӝ
(ee)97.1
Roper Technologies, Inc. Compensation Clawback Policy. †
101.INS
Inline XBRL Instance Document, furnished herewith.
101.SCH
Inline XBRL Taxonomy Extension Schema Document, furnished herewith.
101.CAL
Inline XBRL Taxonomy Extension Calculation Linkbase Document, furnished herewith.
101.DEF
ȶȢȈȶǉŤ9Ą¸ěƃʯɁȶɁȴʰKʯɽǉȶɰȈɁȶAǉˎȶȈɽȈɁȶ¸ȈȶȟƹƃɰǉAɁƺʍȴǉȶɽӗǹʍɨȶȈɰȃǉǁȃǉɨǉʥȈɽȃӝ
101.LAB
Inline XBRL Taxonomy Extension Label Linkbase Document, furnished herewith.
101.PRE
Inline XBRL Taxonomy Extension Presentation Linkbase Document, furnished herewith.
104
Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101).

ĄÝĀKĄěK:ÇÝ¸Ý{KČӓ2024 ANNUAL REPORT
68
† Management contract or compensatory plan or arrangement.
* ěȃǉɨǉȢƃɽǉǁǉʯȃȈƹȈɽɰƃȶǁɰƺȃǉǁʍȢǉɰƃɨǉȶɁɽƹǉȈȶǼˎȢǉǁȃǉɨǉʥȈɽȃӝěȃǉ:ɁȴɥƃȶʰƃǼɨǉǉɰɽɁǹʍɨȶȈɰȃɰʍɥɥȢǉȴǉȶɽƃȢȢʰƃ
copy of any such exhibits and schedules to the Securities and Exchange Commission upon request.
a) ȶƺɁɨɥɁɨƃɽǉǁȃǉɨǉȈȶƹʰɨǉǹǉɨǉȶƺǉɽɁKʯȃȈƹȈɽїӝіɽɁɽȃǉ:ɁȴɥƃȶʰԇɰĂʍƃɨɽǉɨȢʰĄǉɥɁɨɽɁȶyɁɨȴіѕӸĂˎȢǉǁʍǼʍɰɽјӗ
їѕїїӯˎȢǉȶɁӝіӸіїїќјӰӝ
b) ȶƺɁɨɥɁɨƃɽǉǁȃǉɨǉȈȶƹʰɨǉǹǉɨǉȶƺǉɽɁKʯȃȈƹȈɽјӝіɽɁɽȃǉ:Ɂȴɥƃȶʰԇɰ:ʍɨɨǉȶɽĄǉɥɁɨɽɁȶyɁɨȴѝӸ¶ˎȢǉǁ°ʍȶǉіљӗїѕїј
ӯˎȢǉȶɁӝіӸіїїќјӰӝ
c) ȶƺɁɨɥɁɨƃɽǉǁȃǉɨǉȈȶƹʰɨǉǹǉɨǉȶƺǉɽɁKʯȃȈƹȈɽјӝіɽɁɽȃǉ:Ɂȴɥƃȶʰԇɰ:ʍɨɨǉȶɽĄǉɥɁɨɽɁȶyɁɨȴѝӸ¶ˎȢǉǁÇɁʤǉȴƹǉɨќӗ
їѕїљӯˎȢǉȶɁӝіӸіїїќјӰӝ
d) ȶƺɁɨɥɁɨƃɽǉǁȃǉɨǉȈȶƹʰɨǉǹǉɨǉȶƺǉɽɁKʯȃȈƹȈɽљӝїɽɁɽȃǉ:ɁȴɥƃȶʰԇɰĂʍƃɨɽǉɨȢʰĄǉɥɁɨɽɁȶyɁɨȴіѕӸĂˎȢǉǁÇɁʤǉȴƹǉɨќӗ
їѕѕѝӯˎȢǉȶɁӝіӸіїїќјӰӝ
e) ȶƺɁɨɥɁɨƃɽǉǁȃǉɨǉȈȶƹʰɨǉǹǉɨǉȶƺǉɽɁKʯȃȈƹȈɽљӝіɽɁɽȃǉ:ɁȴɥƃȶʰԇɰĄǉǼȈɰɽɨƃɽȈɁȶČɽƃɽǉȴǉȶɽɁȶyɁɨȴČӸјČĄˎȢǉǁ
ÇɁʤǉȴƹǉɨїћӗїѕіѝӯˎȢǉȶɁӝјјјӸїїѝњјїӰӝ
f) ȶƺɁɨɥɁɨƃɽǉǁȃǉɨǉȈȶƹʰɨǉǹǉɨǉȶƺǉɽɁKʯȃȈƹȈɽљӝїɽɁɽȃǉ:ɁȴɥƃȶʰԇɰĄǉǼȈɰɽɨƃɽȈɁȶČɽƃɽǉȴǉȶɽɁȶyɁɨȴČӸјČĄˎȢǉǁ
ÇɁʤǉȴƹǉɨїњӗїѕіњӯˎȢǉȶɁӝјјјӸїѕѝїѕѕӰӝ
g) ȶƺɁɨɥɁɨƃɽǉǁȃǉɨǉȈȶƹʰɨǉǹǉɨǉȶƺǉɽɁKʯȃȈƹȈɽљӝіɽɁɽȃǉ:Ɂȴɥƃȶʰԇɰ:ʍɨɨǉȶɽĄǉɥɁɨɽɁȶyɁɨȴѝӸ¶ˎȢǉǁʍǼʍɰɽїѝӗїѕіѝ
ӯˎȢǉȶɁӝіӸіїїќјӰӝ
h) ȶƺɁɨɥɁɨƃɽǉǁȃǉɨǉȈȶƹʰɨǉǹǉɨǉȶƺǉɽɁKʯȃȈƹȈɽљӝіɽɁɽȃǉ:Ɂȴɥƃȶʰԇɰ:ʍɨɨǉȶɽĄǉɥɁɨɽɁȶyɁɨȴѝӸ¶ˎȢǉǁAǉƺǉȴƹǉɨќӗ
їѕіњӯˎȢǉȶɁӝіӸіїїќјӰӝ
i) ȶƺɁɨɥɁɨƃɽǉǁȃǉɨǉȈȶƹʰɨǉǹǉɨǉȶƺǉɽɁKʯȃȈƹȈɽљӝіɽɁɽȃǉ:Ɂȴɥƃȶʰԇɰ:ʍɨɨǉȶɽĄǉɥɁɨɽɁȶyɁɨȴѝӸ¶ˎȢǉǁAǉƺǉȴƹǉɨіўӗ
їѕіћӯˎȢǉȶɁӝіӸіїїќјӰӝ
j) ȶƺɁɨɥɁɨƃɽǉǁȃǉɨǉȈȶƹʰɨǉǹǉɨǉȶƺǉɽɁKʯȃȈƹȈɽљӝіɽɁɽȃǉ:Ɂȴɥƃȶʰԇɰ:ʍɨɨǉȶɽĄǉɥɁɨɽɁȶyɁɨȴѝӸ¶ˎȢǉǁʍǼʍɰɽїћӗїѕіў
ӯˎȢǉȶɁӝіӸіїїќјӰӝ
k) ȶƺɁɨɥɁɨƃɽǉǁȃǉɨǉȈȶƹʰɨǉǹǉɨǉȶƺǉɽɁKʯȃȈƹȈɽљӝіɽɁɽȃǉ:Ɂȴɥƃȶʰԇɰ:ʍɨɨǉȶɽĄǉɥɁɨɽɁȶyɁɨȴѝӸ¶ˎȢǉǁ°ʍȶǉїїӗїѕїѕ
ӯˎȢǉȶɁӝіӸіїїќјӰӝ
l) ȶƺɁɨɥɁɨƃɽǉǁȃǉɨǉȈȶƹʰɨǉǹǉɨǉȶƺǉɽɁKʯȃȈƹȈɽљӝіɽɁɽȃǉ:Ɂȴɥƃȶʰԇɰ:ʍɨɨǉȶɽĄǉɥɁɨɽɁȶyɁɨȴѝӸ¶ˎȢǉǁČǉɥɽǉȴƹǉɨіӗ
їѕїѕӯˎȢǉȶɁӝіӸіїїќјӰӝ
m) ȶƺɁɨɥɁɨƃɽǉǁȃǉɨǉȈȶƹʰɨǉǹǉɨǉȶƺǉɽɁKʯȃȈƹȈɽљӝіɽɁɽȃǉ:Ɂȴɥƃȶʰԇɰ:ʍɨɨǉȶɽĄǉɥɁɨɽɁȶyɁɨȴѝӸ¶ˎȢǉǁʍǼʍɰɽїіӗїѕїљ
ӯˎȢǉȶɁӝіӸіїїќјӰӝ
n) ȶƺɁɨɥɁɨƃɽǉǁȃǉɨǉȈȶƹʰɨǉǹǉɨǉȶƺǉɽɁKʯȃȈƹȈɽіѕӝіɽɁɽȃǉ:ɁȴɥƃȶʰԇɰĂʍƃɨɽǉɨȢʰĄǉɥɁɨɽɁȶyɁɨȴіѕӸĂˎȢǉǁʍǼʍɰɽіӗ
їѕїљӯˎȢǉȶɁӝіӸіїїќјӰӝ
o) ȶƺɁɨɥɁɨƃɽǉǁȃǉɨǉȈȶƹʰɨǉǹǉɨǉȶƺǉɽɁKʯȃȈƹȈɽіѕӝјɽɁɽȃǉ:ɁȴɥƃȶʰԇɰȶȶʍƃȢĄǉɥɁɨɽɁȶyɁɨȴіѕӸ¶ˎȢǉǁyǉƹɨʍƃɨʰїќӗ
їѕїјӯˎȢǉȶɁӝіӸіїїќјӰӝ
p) ȶƺɁɨɥɁɨƃɽǉǁȃǉɨǉȈȶƹʰɨǉǹǉɨǉȶƺǉɽɁKʯȃȈƹȈɽіѕӝіɽɁɽȃǉ:Ɂȴɥƃȶʰԇɰ:ʍɨɨǉȶɽĄǉɥɁɨɽɁȶyɁɨȴѝӸ¶ˎȢǉǁ°ʍȢʰїїӗїѕїї
ӯˎȢǉȶɁӝіӸіїїќјӰӝ
q) ȶƺɁɨɥɁɨƃɽǉǁȃǉɨǉȈȶƹʰɨǉǹǉɨǉȶƺǉɽɁɥɥǉȶǁȈʯɽɁɽȃǉ:ɁȴɥƃȶʰԇɰAǉˎȶȈɽȈʤǉĀɨɁʯʰČɽƃɽǉȴǉȶɽɁȶČƺȃǉǁʍȢǉіљ
ˎȢǉǁɥɨȈȢјѕӗїѕіїӯˎȢǉȶɁӝіӸіїїќјӰӝ
r) ȶƺɁɨɥɁɨƃɽǉǁȃǉɨǉȈȶƹʰɨǉǹǉɨǉȶƺǉɽɁKʯȃȈƹȈɽіѕӝњɽɁɽȃǉ:Ɂȴɥƃȶʰԇɰ:ʍɨɨǉȶɽĄǉɥɁɨɽɁȶyɁɨȴѝӸ¶ˎȢǉǁAǉƺǉȴƹǉɨћӗ
їѕѕћӯˎȢǉȶɁӝіӸіїїќјӰӝ
s) ȶƺɁɨɥɁɨƃɽǉǁȃǉɨǉȈȶƹʰɨǉǹǉɨǉȶƺǉɽɁKʯȃȈƹȈɽіѕӝіќɽɁɽȃǉ:ɁȴɥƃȶʰԇɰȶȶʍƃȢĄǉɥɁɨɽɁȶyɁɨȴіѕӸ¶ˎȢǉǁyǉƹɨʍƃɨʰїќӗ
їѕіќӯˎȢǉȶɁӝіӸіїїќјӰӝ
t) ȶƺɁɨɥɁɨƃɽǉǁȃǉɨǉȈȶƹʰɨǉǹǉɨǉȶƺǉɽɁKʯȃȈƹȈɽіѕӝіɽɁɽȃǉ:ɁȴɥƃȶʰԇɰĂʍƃɨɽǉɨȢʰĄǉɥɁɨɽɁȶyɁɨȴіѕӸĂˎȢǉǁÇɁʤǉȴƹǉɨ
њӗїѕіѝӯˎȢǉȶɁӝіӸіїїќјӰӝ
u) ȶƺɁɨɥɁɨƃɽǉǁȃǉɨǉȈȶƹʰɨǉǹǉɨǉȶƺǉɽɁɥɥǉȶǁȈʯ9ɽɁɽȃǉ:ɁȴɥƃȶʰԇɰAǉˎȶȈɽȈʤǉĀɨɁʯʰČɽƃɽǉȴǉȶɽɁȶČƺȃǉǁʍȢǉіљ
ˎȢǉǁɥɨȈȢїћӗїѕіћӯˎȢǉȶɁӝіӸіїїќјӰӝ
v) ȶƺɁɨɥɁɨƃɽǉǁȃǉɨǉȈȶƹʰɨǉǹǉɨǉȶƺǉɽɁKʯȃȈƹȈɽɰіѕӝїѕƃȶǁіѕӝїіɽɁɽȃǉ:ɁȴɥƃȶʰԇɰȶȶʍƃȢĄǉɥɁɨɽɁȶyɁɨȴіѕӸ¶ˎȢǉǁ
yǉƹɨʍƃɨʰїќӗїѕіќӯˎȢǉȶɁӝіӸіїїќјӰӝ
w) ȶƺɁɨɥɁɨƃɽǉǁȃǉɨǉȈȶƹʰɨǉǹǉɨǉȶƺǉɽɁKʯȃȈƹȈɽɰіѕӝіћӗіѕӝіќӗƃȶǁіѕӝіѝɽɁɽȃǉ:ɁȴɥƃȶʰԇɰȶȶʍƃȢĄǉɥɁɨɽɁȶyɁɨȴіѕӸ¶
ˎȢǉǁyǉƹɨʍƃɨʰїњӗїѕіўӯˎȢǉȶɁӝіӸіїїќјӰӝ

ĄÝĀKĄěK:ÇÝ¸Ý{KČӓ2024 ANNUAL REPORT
69
x) ȶƺɁɨɥɁɨƃɽǉǁȃǉɨǉȈȶƹʰɨǉǹǉɨǉȶƺǉɽɁKʯȃȈƹȈɽіѕӝїїɽɁɽȃǉ:ɁȴɥƃȶʰԇɰȶȶʍƃȢĄǉɥɁɨɽɁȶyɁɨȴіѕӸ¶ˎȢǉǁyǉƹɨʍƃɨʰїјӗ
їѕіѝӯˎȢǉȶɁӝіӸіїїќјӰӝ
y) ȶƺɁɨɥɁɨƃɽǉǁȃǉɨǉȈȶƹʰɨǉǹǉɨǉȶƺǉɽɁKʯȃȈƹȈɽіѕӝіɽɁɽȃǉ:Ɂȴɥƃȶʰԇɰ:ʍɨɨǉȶɽĄǉɥɁɨɽɁȶyɁɨȴѝӸ¶ˎȢǉǁÇɁʤǉȴƹǉɨїћӗ
їѕіўӯˎȢǉȶɁӝіӸіїїќјӰӝ
z) ȶƺɁɨɥɁɨƃɽǉǁȃǉɨǉȈȶƹʰɨǉǹǉɨǉȶƺǉɽɁKʯȃȈƹȈɽɰіѕӝіӗіѕӝїӗіѕӝјӗƃȶǁіѕӝљɽɁɽȃǉ:Ɂȴɥƃȶʰԇɰ:ʍɨɨǉȶɽĄǉɥɁɨɽɁȶyɁɨȴѝӸ¶
ˎȢǉǁ°ʍȶǉіљӗїѕїіӯˎȢǉȶɁӝіӸіїїќјӰӝ
aa) ȶƺɁɨɥɁɨƃɽǉǁȃǉɨǉȈȶƹʰɨǉǹǉɨǉȶƺǉɽɁKʯȃȈƹȈɽіѕӝїїɽɁɽȃǉ:ɁȴɥƃȶʰԇɰȶȶʍƃȢĄǉɥɁɨɽɁȶyɁɨȴіѕӸ¶ˎȢǉǁyǉƹɨʍƃɨʰїїӗ
їѕїљӯˎȢǉȶɁӝіӸіїїќјӰӝ
bb) Incorporated herein by reference to Exhibits 10.1, 10.2, and 10.3 to the Company’s Quarterly Report on Form 10-Q
ˎȢǉǁÃƃʰјӗїѕїљӯˎȢǉȶɁӝіӸіїїќјӰӝ
cc) Incorporated herein by reference to Exhibits 10.5, 10.6, and 10.7 to the Company’s Quarterly Report on Form 10-Q
ˎȢǉǁʍǼʍɰɽњӗїѕїіӯˎȢǉȶɁӝіӸіїїќјӰӝ
dd)ȶƺɁɨɥɁɨƃɽǉǁȃǉɨǉȈȶƹʰɨǉǹǉɨǉȶƺǉɽɁKʯȃȈƹȈɽɰіѕӝіƃȶǁіѕӝїɽɁɽȃǉ:Ɂȴɥƃȶʰԇɰ:ʍɨɨǉȶɽĄǉɥɁɨɽɁȶyɁɨȴѝӸ¶ӣˎȢǉǁ
AǉƺǉȴƹǉɨіњӗїѕїїӯˎȢǉȶɁӝіӸіїїќјӰӝ
ee) ȶƺɁɨɥɁɨƃɽǉǁȃǉɨǉȈȶƹʰɨǉǹǉɨǉȶƺǉɽɁKʯȃȈƹȈɽўќӝіɽɁɽȃǉ:ɁȴɥƃȶʰԇɰȶȶʍƃȢĄǉɥɁɨɽɁȶyɁɨȴіѕӸ¶ˎȢǉǁyǉƹɨʍƃɨʰїїӗ
їѕїљӯˎȢǉȶɁӝіӸіїїќјӰӝ
ěKÃіћյyÝĄÃіѕӳ¶ČĩÃÃĄť
None.

ĄÝĀKĄěK:ÇÝ¸Ý{KČӓ2024 ANNUAL REPORT
70
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
ROPER TECHNOLOGIES, INC.
(Registrant)
By: /s/ L. Neil Hunn
L. Neil Hunn, President and Chief Executive Officer
February 24, 2025
Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the fol-
lowing persons on behalf of the registrant and in the capacities and on the dates indicated.
L. Neil Hunn
ĀɨǉɰȈǁǉȶɽƃȶǁ:ȃȈǉǹKʯǉƺʍɽȈʤǉÝǹˎƺǉɨ
ӯĀɨȈȶƺȈɥƃȢKʯǉƺʍɽȈʤǉÝǹˎƺǉɨӰ
February 24, 2025
/s/ JASON P. CONLEY
Jason P. Conley
Executive Vice President and
:ȃȈǉǹyȈȶƃȶƺȈƃȢÝǹˎƺǉɨ
ӯĀɨȈȶƺȈɥƃȢyȈȶƃȶƺȈƃȢÝǹˎƺǉɨӰ
February 24, 2025
/s/ BRANDON CROSS
Brandon Cross
Vice President and
Corporate Controller
ӯĀɨȈȶƺȈɥƃȢƺƺɁʍȶɽȈȶǼÝǹˎƺǉɨӰ
February 24, 2025
/s/ AMY WOODS BRINKLEY
Amy Woods Brinkley
Chair of the Board of Directors
February 24, 2025
/s/ SHELLYE L. ARCHAMBEAU
Shellye L. Archambeau
Director
February 24, 2025
/s/ IRENE M. ESTEVES
Irene M. Esteves
Director
February 24, 2025
/s/ ROBERT D. JOHNSON
Robert D. Johnson
Director
February 24, 2025
/s/ THOMAS P. JOYCE, JR.
Thomas P. Joyce, Jr.
Director
February 24, 2025
/s/ JOHN F. MURPHY
John F. Murphy
Director
February 24, 2025
/s/ LAURA G. THATCHER
Laura G. Thatcher
Director
February 24, 2025
/s/ RICHARD F. WALLMAN
Richard F. Wallman
Director
February 24, 2025
/s/ CHRISTOPHER WRIGHT
Christopher Wright
Director
February 24, 2025

ĄÝĀKĄěK:ÇÝ¸Ý{KČӓ2024 ANNUAL REPORT
71
ĀĀKÇAŤӱRECONCILIATIONS
A°ĩČěKAĄKřKÇĩKӗ{ĄÝČČĀĄÝyěӗÇAK9ěAĄK:ÝÇ:¸ěÝÇӭԤÃӮ
FY
2009(1)
FY
2021(2)
FY
2023(2)
FY
2024(2)
V% to
'23
3yr
CAGR
15yr
CAGR
Adjusted revenue reconciliation
GAAP revenue
$2,050
Ԥԛљӗѝјљ
Ԥћӗіќѝ
Ԥԛќӗѕјў
14%
13%
9%
Purchase accounting adjustment to
acquired deferred revenue
—
1
—
—
Adjusted revenue
$2,050
Ԥԛљӗѝјњ
Ԥћӗіќѝ
Ԥԛќӗѕјў
14%
13%
9%
Components of revenue growth
Organic
6%
Acquisitions/divestitures
ѝ%
Foreign exchange
—
Total revenue growth
14%
Adjusted gross profit reconciliation
GAAP gross profit
Ԥԛԛіӗѕљј
Ԥјӗљѕѝ
$4,307
Ԥԛљӗѝќѝ
Purchase accounting adjustment to
acquired deferred revenue
—
1
—
—
Adjusted gross profit
Ԥԛԛіӗѕљј
$3,409
$4,307
Ԥԛљӗѝќѝ
13%
13%
11%
% of adjusted revenue
50.9%
70.5%
69.7%
69.3%
Adjusted EBITDA reconciliation
GAAP earnings before income taxes
$ 340
$ 1,032
$ 1,743
Ԥԛԛіӗўћќ
Interest expense
59
234
165
259
Depreciation
34
44
35
37
Amortization
69
572
720
776
EBITDA
$ 502
Ԥіӗѝѝї
Ԥԛїӗћћј
$3,039
14%
17%
13%
Purchase accounting adjustment to
acquired deferred revenue and
commission expense
—
(5)
—
—
Restructuring-related expenses associated
ʥȈɽȃɽȃǉČʰȶɽǉȢȢȈɰӯתїјӰƃȶǁěɨƃȶɰƃƺɽӯתїљӰ
acquisitions
—
—
9
9
Transaction-related expenses for
completed acquisitions
—
—
ѝ
ѝ
Financial impacts associated with the
minority investments in Indicor & Certinia
—
—
(165)
(235)
Gain on sale of non-operating assets
—
—
(3)
—
Gain on sale related to minority
investment in Sedaru
—
ӯїѝ)
—
—
Legal settlement charge
—
—
—
11
Impairment related to merger of
CliniSys and Sunquest
—
94
—
—
Adjusted EBITDA
$ 502
$ 1,944
$ 2,511
Ԥԛїӗѝјї
13%
13%
12%
% of adjusted revenue
24.5%
40.2%
40.6%
40.2%
A°ĩČěKA:Čy¸ÝŚĄK:ÝÇ:¸ěÝÇӭԤÃӮ
FY
2009(1)
FY
2021(2)
FY
2023(2)
FY
2024(2)
V% to
'23
3yr
CAGR
15yr
CAGR
Operating cash flow
Ԥјћѝ
$ 1,656
$ 2,037
Ԥԛїӗјўј
Taxes paid in period related to divestitures
—
—
32
—
Adjusted operating cash flow
Ԥјћѝ
$ 1,656
$2,070
Ԥԛїӗјўј
16%
13%
13%
Capital expenditures
(26)
ӯїѝ)
ӯћѝ)
(66)
Capitalized software expenditures
(5)
(30)
(40)
(45)
Adjusted free cash flow
$ 337
Ԥіӗњўѝ
$ 1,962
Ԥԛїӗїѝї
16%
13%
14%
(1) As reported; includes divestitures and discontinued operations.
(2) Excludes divestitures and discontinued operations.

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Board of Directors
Shareholder information
Ticker Symbol: ROP
Roper’s common stock is listed on
the Nasdaq Stock Market with options
trading conducted on the Chicago
Board Options Exchange.
Investor Relations
Roper Technologies, Inc.
6496 University Parkway
Sarasota, FL 34240
+1 941 556 2601
Investor-relations@ropertech.com
Transfer agent
Computershare
462 South 4th Street, Suite 1600
Louisville, KY 40202
+1 800 736 3001
Independent registered
public accounting firm
PricewaterhouseCoopers LLC
Annual report design by Curran & Connors, Inc. / www.curran-connors.com
Seated left to right: Shellye L. Archambeau, Former Chief Executive Officer, MetricStream, Inc.; Robert D. Johnson, Chairman,
Spirit AeroSystems Holdings, Inc.; Amy Woods Brinkley, Retired Chief Risk Officer, Bank of America Corp.; John F. Murphy,
Former Executive Vice President and Chief Financial Officer, Adobe, Inc.; Irene M. Esteves, Executive Vice President and Chief
Financial Officer, Spirit AeroSystems Holdings, Inc.
Standing left to right: Christopher Wright, Director, Merifin Capital; Thomas P. Joyce, Jr., Retired President and Chief Executive
Officer, Danaher Corporation; L. Neil Hunn, President and Chief Executive Officer, Roper Technologies, Inc.; Laura G. Thatcher,
Retired Head of Executive Compensation Practice, Alston & Bird LLP; Richard F. Wallman, Retired Chief Financial Officer and
Senior Vice President, Honeywell International, Inc.

6496 University Parkway
Sarasota, Florida 34240
Tel +1 941 556 2601
www.ropertech.com