Roper Technologies announces second quarter financial results
Rhea-AI Summary
Roper Technologies (Nasdaq: ROP) reported Q2 2026 revenue of $2.11 billion, up 9% year over year, with 5% organic growth and 3% from acquisitions. GAAP diluted EPS rose 233% to $11.62, primarily reflecting equity investment gains, while adjusted DEPS increased 10% to $5.38.
GAAP operating cash flow grew 16% to $469 million and adjusted free cash flow rose 11% to $447 million. Roper repurchased 3.6 million shares for $1.2 billion in Q2 and 9.0 million shares for $3.2 billion over the last three quarters.
Roper raised its 2026 outlook to adjusted DEPS of $22.15–$22.30, total revenue growth of 8%+, and organic growth of about 6%. Q3 2026 adjusted DEPS is expected at $5.75–$5.80. According to Roper, non-GAAP results exclude impacts from its minority investment in Indicor.
Positive
- Revenue +9% YoY to $2.11 billion in Q2 2026, with 5% organic growth
- Adjusted DEPS +10% YoY to $5.38 in Q2 2026
- Adjusted free cash flow +11% YoY to $447 million in Q2 2026
- Raised 2026 adjusted DEPS guidance to $22.15–$22.30 from $21.80–$22.05
- Large share repurchase of 3.6 million shares for $1.2 billion in Q2; 9.0 million over three quarters
- Equity investment balance in Indicor increased to $1.79 billion from $0.80 billion at year-end 2025
Negative
- Adjusted EBITDA margin down 130 bps YoY to 38.6% in Q2 2026
- Interest expense up to $111 million from $79 million in Q2 2025
- Network Software operating margin declined to 41.0% from 43.9% in Q2 2025
- Technology Enabled Products operating margin declined to 33.3% from 35.4% in Q2 2025
- Long-term debt (non-current) higher at $10.60 billion versus $8.60 billion at December 31, 2025
News Explained
After the quarter, Roper reported cash against current and long-term debt.
Roper Technologies reported second-quarter results for the period ended
The reported
The forward-guidance table marks future Indicor effects as “TBD” for both Q3 and full-year 2026, and states that those effects are excluded from the forecasted GAAP and adjusted results.
The next guidance update or quarterly filing should be checked for the specific Indicor investment impact, because the current outlook does not quantify it.
News Market Reaction – ROP
On the day this news was published, ROP gained 5.47%, reflecting a notable positive market reaction. Argus tracked a peak move of +3.4% during that session. Our momentum scanner triggered 5 alerts that day, indicating moderate trading interest and price volatility. This price movement added approximately $1.84B to the company's valuation, bringing the market cap to $35.39B at that time.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Apr 23 | Q1 earnings report | Positive | -0.3% | Revenue and cash flow grew while full-year adjusted DEPS guidance increased. |
| Jan 27 | FY earnings report | Positive | -9.6% | Revenue, adjusted EBITDA, adjusted earnings, and free cash flow increased. |
| Apr 28 | Q1 earnings report | Positive | -1.0% | Revenue, adjusted earnings, and guidance increased despite lower GAAP net earnings. |
| Jan 30 | FY earnings report | Positive | +5.1% | Full-year revenue, operating cash flow, earnings, and adjusted EBITDA increased. |
| Oct 23 | Q3 earnings report | Positive | -1.7% | Revenue, earnings, adjusted EBITDA, and operating cash flow increased. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Roper's earnings-tagged announcements were usually followed by negative 24-hour price reactions despite generally positive reported results.
Key Terms
gaap financial
adjusted ebitda financial
organic revenue financial
minority interest financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
Increases full year guidance
SARASOTA, Fla., July 23, 2026 (GLOBE NEWSWIRE) -- Roper Technologies, Inc. (Nasdaq: ROP) reported financial results for the second quarter ended June 30, 2026.
Second quarter 2026 highlights
- Revenue increased
9% to$2.11 billion ; organic revenue was +5% and acquisition contribution was +3% - GAAP DEPS increased
233% to$11.62 ; adjusted DEPS increased10% to$5.38 - GAAP operating cash flow increased
16% to$469 million ; adjusted free cash flow increased11% to$447 million - Repurchased 3.6 million shares for
$1.2 billion in Q2 (program to date: 9.0 million shares for$3.2 billion )
"Roper delivered another solid quarter, with
"We continue to accelerate our pace of AI innovation, having launched multiple new products across the portfolio this quarter that expand our addressable markets. Early adopters are seeing the value of these solutions that address complex workflow challenges. This reinforces our conviction that Roper's vertical market-leading businesses, with deep domain expertise and proprietary data, are well positioned to create differentiated value for customers."
"Given the combination of our strong first half performance, share repurchases to date, and durable customer demand for our mission-critical solutions, we are raising our full year outlook. With significant capital deployment capacity, we are focused on attractive acquisition targets that will continue compounding free cash flow per share for our shareholders," concluded Mr. Hunn.
Increasing 2026 guidance
Roper now expects full year 2026 adjusted DEPS of
For the third quarter of 2026, the Company expects adjusted DEPS of
The Company’s guidance excludes the impact of unannounced future acquisitions or divestitures, proceeds from Indicor's pending divestiture of its instrumentation businesses, as well as potential share repurchases.
Conference call to be held at 8:00 AM (ET) today
A conference call to discuss these results has been scheduled for 8:00 AM ET on Thursday, July 23, 2026. The call can be accessed via webcast or by dialing +1 800-836-8184 (US/Canada) or +1 646-357-8785, using conference call ID 70538. Webcast information and conference call materials will be made available in the Investors section of Roper’s website (www.ropertech.com) prior to the start of the call. The webcast can also be accessed directly by using the following URL https://event.webcast. Telephonic replays will be available for up to two weeks and can be accessed by dialing +1 646-517-4150 with access code 70538 #.
Use of non-GAAP financial information
The Company supplements its consolidated financial statements presented on a GAAP basis with certain non-GAAP financial information to provide investors with greater insight, increase transparency and allow for a more comprehensive understanding of the information used by management in its financial and operational decision-making. Reconciliation of non-GAAP measures to their most directly comparable GAAP measures are included in the accompanying financial schedules or tables. The non-GAAP financial measures disclosed by the Company should not be considered a substitute for, or superior to, financial measures prepared in accordance with GAAP, and the financial results prepared in accordance with GAAP and reconciliations from these results should be carefully evaluated.
Minority interest
Following the sale of a majority stake in its industrial businesses to CD&R, Roper holds a minority interest in Indicor. The fair value of Roper’s equity investment in Indicor is updated on a quarterly basis and reported as "equity investment (gain) loss, net." Roper makes non-GAAP adjustments for the impacts associated with this investment.
| Table 1: Revenue and adjusted EBITDA reconciliation ($M) | ||||||||||
| Q2 2025 | Q2 2026 | V % | ||||||||
| GAAP revenue | $ | 1,944 | $ | 2,109 | 9 % | |||||
| Components of revenue growth | ||||||||||
| Organic | 5 % | |||||||||
| Acquisitions | 3 % | |||||||||
| Foreign exchange | — % | |||||||||
| Total revenue growth | 9 % | |||||||||
| Adjusted EBITDA reconciliation | ||||||||||
| GAAP net earnings | $ | 378 | $ | 1,168 | ||||||
| Taxes | 107 | 140 | ||||||||
| Interest expense | 79 | 111 | ||||||||
| Depreciation | 10 | 10 | ||||||||
| Amortization | 213 | 221 | ||||||||
| EBITDA | $ | 788 | $ | 1,650 | 109 % | |||||
| Transaction-related expenses for completed acquisitions | 4 | — | ||||||||
| Financial impacts associated with minority investments | (17 | ) | (835 | ) | A | |||||
| Adjusted EBITDA | $ | 775 | $ | 815 | 5 % | |||||
| Adjusted EBITDA margin | 39.9 | % | 38.6 | % | (130 bps) | |||||
| Table 2: Adjusted net earnings reconciliation ($M) | ||||||||||
| Q2 2025 | Q2 2026 | V % | ||||||||
| GAAP net earnings | $ | 378 | $ | 1,168 | 209 % | |||||
| Transaction-related expenses for completed acquisitions | 3 | — | ||||||||
| Financial impacts associated with minority investments | (13 | ) | (791 | ) | A | |||||
| Amortization of acquisition-related intangible assets | 160 | 164 | B | |||||||
| Adjusted net earnings C | $ | 528 | $ | 542 | 3 % | |||||
| Table 3: Adjusted DEPS reconciliation | ||||||||||
| Q2 2025 | Q2 2026 | V % | ||||||||
| GAAP DEPS | $ | 3.49 | $ | 11.62 | 233 % | |||||
| Transaction-related expenses for completed acquisitions | 0.03 | — | ||||||||
| Financial impacts associated with minority investments | (0.12 | ) | (7.86 | ) | A | |||||
| Amortization of acquisition-related intangible assets | 1.48 | 1.63 | B | |||||||
| Adjusted DEPS C | $ | 4.87 | $ | 5.38 | 10 % | |||||
| Table 4: Adjusted cash flow reconciliation ($M) | ||||||||||
| Q2 2025 | Q2 2026 | V % | ||||||||
| Operating cash flow | $ | 404 | $ | 469 | 16 % | |||||
| Taxes paid in period related to divestiture | 30 | — | ||||||||
| Adjusted operating cash flow | $ | 434 | $ | 469 | 8 % | |||||
| Capital expenditures | (16 | ) | (11 | ) | ||||||
| Capitalized software expenditures | (14 | ) | (16 | ) | ||||||
| Outgo beneficial interest collections | — | 4 | D | |||||||
| Adjusted free cash flow | $ | 403 | $ | 447 | 11 % | |||||
| Table 5: Forecasted adjusted DEPS reconciliation | |||||||||||||
| Q3 2026 | FY 2026 | ||||||||||||
| Low end | High end | Low end | High end | ||||||||||
| GAAP DEPS E | $ | 4.07 | $ | 4.12 | $ | 24.78 | $ | 24.93 | |||||
| YTD financial impacts associated with the minority investment in Indicor A | TBD | TBD | (9.16 | ) | (9.16 | ) | |||||||
| Amortization of acquisition-related intangible assets B | 1.68 | 1.68 | 6.53 | 6.53 | |||||||||
| Adjusted DEPS C | $ | 5.75 | $ | 5.80 | $ | 22.15 | $ | 22.30 | |||||
Footnotes:
| A. | Adjustments related to the financial impacts associated with the minority investment in Indicor as shown below ($M, except per share data). Forecasted results do not include any future impacts associated with our minority investment in Indicor, as these future impacts cannot be reasonably predicted. These impacts will be excluded from all non-GAAP results in future periods. | |||||||||||||||
| Q2 2026A | Q3 2026E | FY 2026E | YTD 2026 | |||||||||||||
| Pretax | $ | (835 | ) | TBD | TBD | $ | (1,002 | ) | ||||||||
| After-tax | $ | (791 | ) | TBD | TBD | $ | (925 | ) | ||||||||
| Per share | $ | (7.86 | ) | TBD | TBD | $ | (9.16 | ) | ||||||||
| B. | Actual results and forecast of estimated amortization of acquisition-related intangible assets as shown below ($M, except per share data). | |||||||||||||||
| Q2 2026A | Q3 2026E | FY 2026E | ||||||||||||||
| Pretax | $ | 208 | $ | 211 | $ | 835 | ||||||||||
| After-tax | $ | 164 | $ | 167 | $ | 660 | ||||||||||
| Per share | $ | 1.63 | $ | 1.68 | $ | 6.53 | ||||||||||
| C. | All actual and forecasted non-GAAP adjustments are taxed at | |||||||||||||||
| D. | Cash collected on Outgo's beneficial interest, the residual amount owed to Outgo after it sells receivables to a third-party financial institution, classified within cash flows from investing activities. | |||||||||||||||
| E. | Forecasted GAAP DEPS do not include any future impacts associated with our minority investment in Indicor. These impacts will be excluded from all non-GAAP results in future periods. | |||||||||||||||
Note: Numbers may not foot due to rounding.
About Roper Technologies
Roper Technologies is a constituent of the Nasdaq 100, S&P 500, and Fortune 500. Roper has a proven, long-term track record of compounding cash flow and shareholder value. The Company operates market leading businesses that design and develop vertical software and technology enabled products for a variety of defensible niche markets. Roper utilizes a disciplined, analytical, and process-driven approach to redeploy its excess capital toward high-quality acquisitions. Additional information about Roper is available on the Company’s website at www.ropertech.com.
Contact information:
Investor Relations
941-556-2601
investor-relations@ropertech.com
The information provided in this press release contains forward-looking statements within the meaning of the federal securities laws. These forward-looking statements may include, among others, statements regarding operating results, the success of our internal operating plans, and the prospects for newly acquired businesses to be integrated and contribute to future growth, profit and cash flow expectations. Forward-looking statements may 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 guarantees of future performance. They involve risks and uncertainties that could cause actual results to differ materially from those contained in any forward-looking statement. Such risks and uncertainties include our ability to identify and complete acquisitions consistent with our business strategies, integrate acquisitions that have been completed, realize expected benefits and synergies from, and manage other risks associated with, acquired businesses, including obtaining any required regulatory approvals with respect thereto, and our ability to develop, deploy, and use artificial intelligence in our platforms and offerings. We also face other general risks, including our ability to realize cost savings from our operating initiatives, general economic conditions and the conditions of the specific markets in which we operate, including risks related to labor shortages and volatile interest rates, changes in foreign exchange rates, risks related to changing U.S. and foreign trade policies, including increased trade restrictions or tariffs, risks associated with our international operations, cybersecurity and data privacy risks, including litigation resulting therefrom, risks related to political instability, armed hostilities, incidents of terrorism, public health crises or natural disasters, increased product liability and insurance costs, increased warranty exposure, future competition, changes in the supply of, or price for, parts and components, including as a result of inflation and potential supply chain constraints, environmental compliance costs and liabilities, risks and cost associated with litigation, potential write-offs of our substantial intangible assets, and risks associated with obtaining governmental approvals and maintaining regulatory compliance for new and existing products. Important risks may be discussed in current and subsequent filings with the SEC. You should not place undue reliance on any forward-looking statements. These statements speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.
| Roper Technologies, Inc. | |||||||
| Condensed Consolidated Balance Sheets (unaudited) | |||||||
| (Amounts in millions) | |||||||
| June 30, 2026 | December 31, 2025 | ||||||
| ASSETS: | |||||||
| Cash and cash equivalents | $ | 364.9 | $ | 297.4 | |||
| Accounts receivable, net | 927.2 | 1,001.0 | |||||
| Inventories, net | 145.4 | 141.7 | |||||
| Income taxes receivable | 73.3 | 128.2 | |||||
| Unbilled receivables | 153.8 | 124.0 | |||||
| Prepaid expenses and other current assets | 253.9 | 235.8 | |||||
| Total current assets | 1,918.5 | 1,928.1 | |||||
| Property, plant and equipment, net | 158.7 | 156.9 | |||||
| Goodwill | 21,330.7 | 21,341.2 | |||||
| Other intangible assets, net | 9,347.3 | 9,764.2 | |||||
| Deferred taxes | 67.8 | 73.3 | |||||
| Equity investment | 1,792.2 | 796.3 | |||||
| Other assets | 554.3 | 517.0 | |||||
| Total assets | $ | 35,169.5 | $ | 34,577.0 | |||
| LIABILITIES AND STOCKHOLDERS’ EQUITY: | |||||||
| Accounts payable | $ | 174.1 | $ | 150.3 | |||
| Accrued compensation | 232.0 | 293.0 | |||||
| Deferred revenue | 1,707.8 | 1,906.8 | |||||
| Other accrued liabilities | 588.9 | 642.3 | |||||
| Income taxes payable | 49.4 | 28.0 | |||||
| Current portion of long-term debt, net | 718.3 | 705.2 | |||||
| Total current liabilities | 3,470.5 | 3,725.6 | |||||
| Long-term debt, net of current portion | 10,601.1 | 8,595.8 | |||||
| Deferred taxes | 1,897.4 | 1,883.1 | |||||
| Other liabilities | 500.2 | 491.0 | |||||
| Total liabilities | 16,469.2 | 14,695.5 | |||||
| Common stock, 350.0 shares authorized; 109.4 shares issued and 98.9 outstanding at June 30, 2026 and 109.3 shares issued and 106.6 outstanding at December 31, 2025 | 1.1 | 1.1 | |||||
| Additional paid-in capital | 3,391.9 | 3,292.2 | |||||
| Retained earnings | 18,697.6 | 17,205.7 | |||||
| Accumulated other comprehensive loss | (135.5 | ) | (101.4 | ) | |||
| Treasury stock, 10.5 shares at June 30, 2026 and 2.7 shares at December 31, 2025 | (3,254.8 | ) | (516.1 | ) | |||
| Total stockholders’ equity | 18,700.3 | 19,881.5 | |||||
| Total liabilities and stockholders’ equity | $ | 35,169.5 | $ | 34,577.0 | |||
| Roper Technologies, Inc. | ||||||||||||||
| Condensed Consolidated Statements of Earnings (unaudited) | ||||||||||||||
| (Amounts in millions, except per share data) | ||||||||||||||
| Three months ended June 30, | Six months ended June 30, | |||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||
| Net revenues | $ | 2,108.9 | $ | 1,943.6 | $ | 4,204.2 | $ | 3,826.4 | ||||||
| Cost of sales | 638.7 | 598.2 | 1,280.2 | 1,187.3 | ||||||||||
| Gross profit | 1,470.2 | 1,345.4 | 2,924.0 | 2,639.1 | ||||||||||
| Selling, general and administrative expenses | 885.5 | 797.1 | 1,769.7 | 1,565.0 | ||||||||||
| Income from operations | 584.7 | 548.3 | 1,154.3 | 1,074.1 | ||||||||||
| Interest expense, net | 111.4 | 79.1 | 210.7 | 142.0 | ||||||||||
| Equity investment (gain) loss, net | (835.2 | ) | (16.6 | ) | (1,002.5 | ) | 27.8 | |||||||
| Other expense, net | 0.5 | 0.5 | 3.1 | 1.0 | ||||||||||
| Earnings before income taxes | 1,308.0 | 485.3 | 1,943.0 | 903.3 | ||||||||||
| Income taxes | 139.5 | 107.0 | 265.6 | 193.9 | ||||||||||
| Net earnings | $ | 1,168.5 | $ | 378.3 | $ | 1,677.4 | $ | 709.4 | ||||||
| Net earnings per share: | ||||||||||||||
| Basic | $ | 11.64 | $ | 3.52 | $ | 16.40 | $ | 6.60 | ||||||
| Diluted | $ | 11.62 | $ | 3.49 | $ | 16.35 | $ | 6.55 | ||||||
| Weighted average common shares outstanding: | ||||||||||||||
| Basic | 100.4 | 107.6 | 102.3 | 107.5 | ||||||||||
| Diluted | 100.6 | 108.4 | 102.6 | 108.3 | ||||||||||
| Roper Technologies, Inc. | |||||||||||||||||||||||
| Selected Segment Financial Data (unaudited) | |||||||||||||||||||||||
| (Amounts in millions; percentages of net revenues) | |||||||||||||||||||||||
| Three months ended June 30, | Six months ended June 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| Amount | % | Amount | % | Amount | % | Amount | % | ||||||||||||||||
| Net revenues: | |||||||||||||||||||||||
| Application Software | $ | 1,180.8 | $ | 1,094.9 | $ | 2,372.3 | $ | 2,163.1 | |||||||||||||||
| Network Software | 430.9 | 385.4 | 858.5 | 761.3 | |||||||||||||||||||
| Technology Enabled Products | 497.2 | 463.3 | 973.4 | 902.0 | |||||||||||||||||||
| Total | $ | 2,108.9 | $ | 1,943.6 | $ | 4,204.2 | $ | 3,826.4 | |||||||||||||||
| Gross profit: | |||||||||||||||||||||||
| Application Software | $ | 823.7 | 69.8 | % | $ | 753.3 | 68.8 | % | $ | 1,646.3 | 69.4 | % | $ | 1,474.1 | 68.1 | % | |||||||
| Network Software | 363.4 | 84.3 | % | 320.8 | 83.2 | % | 723.8 | 84.3 | % | 636.4 | 83.6 | % | |||||||||||
| Technology Enabled Products | 283.1 | 56.9 | % | 271.3 | 58.6 | % | 553.9 | 56.9 | % | 528.6 | 58.6 | % | |||||||||||
| Total | $ | 1,470.2 | 69.7 | % | $ | 1,345.4 | 69.2 | % | $ | 2,924.0 | 69.5 | % | $ | 2,639.1 | 69.0 | % | |||||||
| Operating profit*: | |||||||||||||||||||||||
| Application Software | $ | 324.0 | 27.4 | % | $ | 294.6 | 26.9 | % | $ | 643.2 | 27.1 | % | $ | 571.4 | 26.4 | % | |||||||
| Network Software | 176.6 | 41.0 | % | 169.3 | 43.9 | % | 350.4 | 40.8 | % | 336.0 | 44.1 | % | |||||||||||
| Technology Enabled Products | 165.7 | 33.3 | % | 164.1 | 35.4 | % | 320.1 | 32.9 | % | 317.7 | 35.2 | % | |||||||||||
| Total | $ | 666.3 | 31.6 | % | $ | 628.0 | 32.3 | % | $ | 1,313.7 | 31.2 | % | $ | 1,225.1 | 32.0 | % | |||||||
| * Segment operating profit is before unallocated corporate general and administrative expenses and enterprise-wide stock-based compensation. These expenses were | |||||||||||||||||||||||
| Roper Technologies, Inc. | |||||||
| Condensed Consolidated Statements of Cash Flows (unaudited) | |||||||
| (Amounts in millions) | |||||||
| Six months ended June 30, | |||||||
| 2026 | 2025 | ||||||
| Cash flows from operating activities: | |||||||
| Net earnings | $ | 1,677.4 | $ | 709.4 | |||
| Adjustments to reconcile net earnings to cash flows from operating activities: | |||||||
| Depreciation and amortization of property, plant and equipment | 20.1 | 19.6 | |||||
| Amortization of intangible assets | 440.9 | 417.2 | |||||
| Amortization of deferred financing costs | 6.3 | 5.5 | |||||
| Non-cash stock compensation | 108.2 | 82.7 | |||||
| Equity investment (gain) loss, net | (1,002.5 | ) | 27.8 | ||||
| Income tax provision | 265.6 | 193.9 | |||||
| Changes in operating assets and liabilities, net of acquired businesses: | |||||||
| Accounts receivable | 71.0 | 37.4 | |||||
| Unbilled receivables | (30.8 | ) | (9.7 | ) | |||
| Inventories | (4.9 | ) | (9.6 | ) | |||
| Prepaid expenses and other current assets | (23.3 | ) | (22.9 | ) | |||
| Accounts payable | 24.4 | 7.0 | |||||
| Other accrued liabilities | (93.9 | ) | (115.4 | ) | |||
| Deferred revenue | (193.6 | ) | (132.7 | ) | |||
| Cash taxes paid for gain on disposal of equity investment | — | (30.2 | ) | ||||
| Cash income taxes paid, excluding tax associated with gain on disposal of equity investment | (190.2 | ) | (233.7 | ) | |||
| Other, net | (13.1 | ) | (13.5 | ) | |||
| Cash provided by operating activities | 1,061.6 | 932.8 | |||||
| Cash flows from (used in) investing activities: | |||||||
| Acquisitions of businesses, net of cash acquired | (27.5 | ) | (2,005.2 | ) | |||
| Capital expenditures | (25.3 | ) | (26.0 | ) | |||
| Capitalized software expenditures | (30.9 | ) | (26.8 | ) | |||
| Distributions from equity investment | 6.7 | 5.1 | |||||
| Cash receipts on beneficial interest in sold receivables | 4.5 | — | |||||
| Other, net | 0.2 | 1.6 | |||||
| Cash used in investing activities | (72.3 | ) | (2,051.3 | ) | |||
| Cash flows from (used in) financing activities: | |||||||
| Borrowings under revolving credit facility, net | 2,000.0 | 1,275.0 | |||||
| Debt issuance costs | (3.9 | ) | — | ||||
| Cash dividends to stockholders | (191.4 | ) | (177.2 | ) | |||
| Repurchases of common stock | (2,726.7 | ) | — | ||||
| Proceeds from (tax withholding payments for) stock-based compensation, net | (8.6 | ) | 73.8 | ||||
| Treasury stock sales under employee stock purchase plan | 12.7 | 12.5 | |||||
| Other, net | 12.8 | (43.9 | ) | ||||
| Cash provided by (used in) financing activities | (905.1 | ) | 1,140.2 | ||||
| Effect of exchange rate changes on cash | (16.7 | ) | 32.5 | ||||
| Net increase in cash and cash equivalents | 67.5 | 54.2 | |||||
| Cash and cash equivalents, beginning of period | 297.4 | 188.2 | |||||
| Cash and cash equivalents, end of period | $ | 364.9 | $ | 242.4 | |||
