[8-K] ROPER TECHNOLOGIES INC Reports Material Event
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Roper Technologies reported strong first quarter 2026 results, with revenue rising 11% to $2.10 billion, driven by 6% organic growth and 5% from acquisitions. GAAP net earnings increased 54% to $509 million, and diluted GAAP DEPS rose 59% to $4.87.
Adjusted net earnings grew 4% to $539 million and adjusted DEPS increased 8% to $5.16. Adjusted EBITDA reached $797 million, up 8%, while operating cash flow grew 12% to $592 million and free cash flow rose 11% to $562 million, showing strong cash generation.
The company repurchased 4.3 million shares for $1.5 billion in the quarter and 6.0 million shares, or almost 6% of shares outstanding, over six months. The board authorized an additional $3 billion of repurchases, lifting remaining capacity to $3.8 billion. Roper raised its 2026 adjusted DEPS outlook to $21.80–$22.05 and expects Q2 2026 adjusted DEPS of $5.25–$5.30.
Positive
- None.
Negative
- None.
Insights
Roper posts double‑digit growth, boosts 2026 profit outlook and buybacks.
Roper Technologies delivered 11% revenue growth to $2.10 billion in Q1 2026, with 6% organic expansion and contributions from acquisitions. GAAP net earnings climbed to $509 million and GAAP DEPS to $4.87, helped by higher operating profit and a gain on its Indicor minority investment.
On a non‑GAAP basis, adjusted net earnings increased 4% to $539 million, adjusted DEPS rose 8% to $5.16, and adjusted EBITDA advanced 8% to $797 million. Free cash flow of $562 million, up 11%, shows the software‑heavy portfolio continues to convert earnings into cash effectively.
Capital allocation was active: the company repurchased 4.3 million shares for $1.5 billion in Q1 and 6.0 million shares over six months, nearly 6% of shares outstanding, while the board added $3 billion to repurchase authorization, bringing remaining capacity to $3.8 billion. Management raised full‑year 2026 adjusted DEPS guidance to $21.80–$22.05 and set Q2 2026 adjusted DEPS guidance at $5.25–$5.30, signaling confidence in demand for its mission‑critical, AI‑enabled software and products.
8-K Event Classification
2 items: 2.02, 9.01
2 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED)
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
(STATE OR OTHER JURISDICTION OF INCORPORATION)
| (COMMISSION FILE NUMBER) | (IRS EMPLOYER IDENTIFICATION NO.) | |||||||
| (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) | (ZIP CODE) | |||||||
(941 ) 556-2601
(REGISTRANT’S TELEPHONE NUMBER, INCLUDING AREA CODE)
(FORMER NAME OR FORMER ADDRESS, IF CHANGED SINCE LAST REPORT)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT:
| Title of Each Class | Trading Symbol(s) | Name of Each Exchange On Which Registered | ||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
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. ☐
Item 2.02. Results of Operations and Financial Condition.
On April 23, 2026, Roper Technologies, Inc. (the “Company”) issued a press release containing information about the Company’s results of operations for the quarter ended March 31, 2026. A copy of the press release is furnished as Exhibit 99.1.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
| 99.1 | Press Release of the Company dated April 23, 2026. | ||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | ||||
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Roper Technologies, Inc. | |||||||||||||||||||||||
| (Registrant) | |||||||||||||||||||||||
| By: | /s/ Jason P. Conley | Date: | April 23, 2026 | ||||||||||||||||||||
| Jason P. Conley Executive Vice President and Chief Financial Officer | |||||||||||||||||||||||
Roper Technologies announces first quarter financial results
Increases full year DEPS guidance and expands share repurchase program
Sarasota, Florida, April 23, 2026 ... Roper Technologies, Inc. (Nasdaq: ROP) reported financial results for the first quarter ended March 31, 2026.
First quarter 2026 highlights
•Revenue increased 11% to $2.10 billion; organic revenue was +6% and acquisition contribution was +5%
•GAAP net earnings increased 54% to $509 million; adjusted net earnings increased 4% to $539 million
•Adjusted EBITDA increased 8% to $797 million
•Operating cash flow increased 12% to $592 million; free cash flow increased 11% to $562 million
•Repurchased 4.3 million shares for $1.5 billion in Q1 (program to date: 6.0 million shares for $2.2 billion)
•GAAP DEPS increased 59% to $4.87; adjusted DEPS increased 8% to $5.16
"First quarter results were strong across the board, with 6% organic revenue growth, 11% total revenue growth, and 11% free cash flow growth," said Neil Hunn, Roper Technologies' President and CEO. "On capital deployment, we have repurchased six million shares over the past six months, representing almost 6% of shares outstanding. Also, our Board has authorized an additional $3 billion of share repurchases, bringing remaining capacity to $3.8 billion."
"During the quarter, our businesses continued shipping AI products, fueled by Roper's expanded AI capacity and accelerated speed of execution. Early market response validates what we have long believed: vertical market leaders with proprietary data and deep workflow density are best positioned to deliver AI solutions that customers actually value and utilize."
"We are raising our full year DEPS outlook on the strength of Q1, share repurchases to date, and resilient demand for our businesses' mission-critical solutions. With more than $5 billion of deployable capacity against attractive acquisitions and opportunistic buybacks, Roper is well positioned to compound long-term free cash flow per share for our shareholders," concluded Mr. Hunn.
Increasing 2026 guidance
Roper now expects full year 2026 adjusted DEPS of $21.80 - $22.05, compared to previous guidance of $21.30 - $21.55.
For the second quarter of 2026, the Company expects adjusted DEPS of $5.25 - $5.30.
The Company’s guidance excludes the impact of unannounced future acquisitions or divestitures, as well as potential share repurchases.
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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, April 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 23216. 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 23216 #.
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.
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| Table 1: Revenue and adjusted EBITDA reconciliation ($M) | |||||||||||||||||
| Q1 2025 | Q1 2026 | V % | |||||||||||||||
| GAAP revenue | $ | 1,883 | $ | 2,095 | 11 | % | |||||||||||
| Components of revenue growth | |||||||||||||||||
| Organic | 6 | % | |||||||||||||||
| Acquisitions | 5 | % | |||||||||||||||
| Foreign exchange | 1 | % | |||||||||||||||
| Total revenue growth | 11 | % | |||||||||||||||
| Adjusted EBITDA reconciliation | |||||||||||||||||
| GAAP net earnings | $ | 331 | $ | 509 | |||||||||||||
| Taxes | 87 | 126 | |||||||||||||||
| Interest expense | 63 | 99 | |||||||||||||||
| Depreciation | 9 | 10 | |||||||||||||||
| Amortization | 204 | 220 | |||||||||||||||
| EBITDA | $ | 694 | $ | 965 | 39 | % | |||||||||||
| Transaction-related expenses for completed acquisitions | 1 | — | |||||||||||||||
| Financial impacts associated with minority investments | 44 | (167) | A | ||||||||||||||
| Adjusted EBITDA | $ | 740 | $ | 797 | 8 | % | |||||||||||
| Adjusted EBITDA margin | 39.3 | % | 38.1 | % | (120 bps) | ||||||||||||
| Table 2: Adjusted net earnings reconciliation ($M) | |||||||||||||||||
| Q1 2025 | Q1 2026 | V % | |||||||||||||||
| GAAP net earnings | $ | 331 | $ | 509 | 54 | % | |||||||||||
| Transaction-related expenses for completed acquisitions | 1 | — | |||||||||||||||
| Financial impacts associated with minority investments | 32 | (134) | A | ||||||||||||||
| Amortization of acquisition-related intangible assets | 154 | 164 | B | ||||||||||||||
Adjusted net earnings C | $ | 517 | $ | 539 | 4 | % | |||||||||||
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| Table 3: Adjusted DEPS reconciliation | |||||||||||||||||
| Q1 2025 | Q1 2026 | V % | |||||||||||||||
| GAAP DEPS | $ | 3.06 | $ | 4.87 | 59 | % | |||||||||||
| Transaction-related expenses for completed acquisitions | 0.01 | — | |||||||||||||||
| Financial impacts associated with minority investments | 0.29 | (1.28) | A | ||||||||||||||
| Amortization of acquisition-related intangible assets | 1.42 | 1.57 | B | ||||||||||||||
Adjusted DEPS C | $ | 4.78 | $ | 5.16 | 8 | % | |||||||||||
| Table 4: Cash flow reconciliation ($M) | |||||||||||||||||
| Q1 2025 | Q1 2026 | V % | |||||||||||||||
| Operating cash flow | $ | 529 | $ | 592 | 12 | % | |||||||||||
| Capital expenditures | (10) | (14) | |||||||||||||||
| Capitalized software expenditures | (12) | (15) | |||||||||||||||
| Free cash flow | $ | 507 | $ | 562 | 11 | % | |||||||||||
| Table 5: Forecasted adjusted DEPS reconciliation | |||||||||||||||||||||||
| Q2 2026 | FY 2026 | ||||||||||||||||||||||
| Low end | High end | Low end | High end | ||||||||||||||||||||
GAAP DEPS D | $ | 3.64 | $ | 3.69 | $ | 16.67 | $ | 16.92 | |||||||||||||||
YTD financial impacts associated with the minority investment in Indicor A | TBD | TBD | (1.28) | (1.28) | |||||||||||||||||||
Amortization of acquisition-related intangible assets B | 1.61 | 1.61 | 6.41 | 6.41 | |||||||||||||||||||
Adjusted DEPS C | $ | 5.25 | $ | 5.30 | $ | 21.80 | $ | 22.05 | |||||||||||||||
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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 potential impacts associated with our minority investment in Indicor, as these potential impacts cannot be reasonably predicted. These impacts will be excluded from all non-GAAP results in future periods. | |||||||||||||||||||||||||||||||
| Q1 2026A | Q2 2026E | FY 2026E | YTD 2026A | |||||||||||||||||||||||||||||
| Pretax | $ | (167) | TBD | TBD | $ | (167) | ||||||||||||||||||||||||||
| After-tax | $ | (134) | TBD | TBD | $ | (134) | ||||||||||||||||||||||||||
| Per share | $ | (1.28) | TBD | TBD | $ | (1.28) | ||||||||||||||||||||||||||
| B. | Actual results and forecast of estimated amortization of acquisition-related intangible assets as shown below ($M, except per share data). | |||||||||||||||||||||||||||||||
| Q1 2026A | Q2 2026E | FY 2026E | ||||||||||||||||||||||||||||||
| Pretax | $ | 208 | $ | 209 | $ | 837 | ||||||||||||||||||||||||||
| After-tax | $ | 164 | $ | 165 | $ | 661 | ||||||||||||||||||||||||||
| Per share | $ | 1.57 | $ | 1.61 | $ | 6.41 | ||||||||||||||||||||||||||
| C. | All actual and forecasted non-GAAP adjustments are taxed at 21% with the exception of the financial impacts associated with minority investments. | |||||||||||||||||||||||||||||||
| D. | Forecasted GAAP DEPS do not include any potential 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.
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About Roper Technologies
Roper Technologies is a constituent of the Nasdaq 100, S&P 500, and Fortune 1000. 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.
# # #
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| Roper Technologies, Inc. | |||||||||||
| Condensed Consolidated Balance Sheets (unaudited) | |||||||||||
| (Amounts in millions) | |||||||||||
| March 31, 2026 | December 31, 2025 | ||||||||||
| ASSETS: | |||||||||||
| Cash and cash equivalents | $ | 382.9 | $ | 297.4 | |||||||
| Accounts receivable, net | 877.3 | 1,001.0 | |||||||||
| Inventories, net | 144.5 | 141.7 | |||||||||
| Income taxes receivable | 88.3 | 128.2 | |||||||||
| Unbilled receivables | 142.7 | 124.0 | |||||||||
| Prepaid expenses and other current assets | 276.4 | 235.8 | |||||||||
| Total current assets | 1,912.1 | 1,928.1 | |||||||||
| Property, plant and equipment, net | 158.2 | 156.9 | |||||||||
| Goodwill | 21,347.7 | 21,341.2 | |||||||||
| Other intangible assets, net | 9,559.0 | 9,764.2 | |||||||||
| Deferred taxes | 70.8 | 73.3 | |||||||||
| Equity investment | 963.6 | 796.3 | |||||||||
| Other assets | 539.4 | 517.0 | |||||||||
| Total assets | $ | 34,550.8 | $ | 34,577.0 | |||||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY: | |||||||||||
| Accounts payable | $ | 184.5 | $ | 150.3 | |||||||
| Accrued compensation | 226.7 | 293.0 | |||||||||
| Deferred revenue | 1,792.5 | 1,906.8 | |||||||||
| Other accrued liabilities | 619.0 | 642.3 | |||||||||
| Income taxes payable | 39.3 | 28.0 | |||||||||
| Current portion of long-term debt, net | 715.6 | 705.2 | |||||||||
| Total current liabilities | 3,577.6 | 3,725.6 | |||||||||
| Long-term debt, net of current portion | 9,748.4 | 8,595.8 | |||||||||
| Deferred taxes | 1,915.1 | 1,883.1 | |||||||||
| Other liabilities | 491.7 | 491.0 | |||||||||
| Total liabilities | 15,732.8 | 14,695.5 | |||||||||
Common stock, 350.0 shares authorized; 109.4 shares issued and 102.4 outstanding at March 31, 2026 and 109.3 shares issued and 106.6 outstanding at December 31, 2025 | 1.1 | 1.1 | |||||||||
| Additional paid-in capital | 3,334.4 | 3,292.2 | |||||||||
| Retained earnings | 17,620.2 | 17,205.7 | |||||||||
| Accumulated other comprehensive loss | (113.7) | (101.4) | |||||||||
Treasury stock, 7.0 shares at March 31, 2026 and 2.7 shares at December 31, 2025 | (2,024.0) | (516.1) | |||||||||
| Total stockholders’ equity | 18,818.0 | 19,881.5 | |||||||||
| Total liabilities and stockholders’ equity | $ | 34,550.8 | $ | 34,577.0 | |||||||
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| Roper Technologies, Inc. | |||||||||||
| Condensed Consolidated Statements of Earnings (unaudited) | |||||||||||
| (Amounts in millions, except per share data) | |||||||||||
| Three months ended March 31, | |||||||||||
| 2026 | 2025 | ||||||||||
| Net revenues | $ | 2,095.3 | $ | 1,882.8 | |||||||
| Cost of sales | 641.5 | 589.1 | |||||||||
| Gross profit | 1,453.8 | 1,293.7 | |||||||||
| Selling, general and administrative expenses | 884.2 | 767.9 | |||||||||
| Income from operations | 569.6 | 525.8 | |||||||||
| Interest expense, net | 99.3 | 62.9 | |||||||||
| Equity investment (gain) loss, net | (167.3) | 44.4 | |||||||||
| Other expense, net | 2.6 | 0.5 | |||||||||
| Earnings before income taxes | 635.0 | 418.0 | |||||||||
| Income taxes | 126.1 | 86.9 | |||||||||
| Net earnings | $ | 508.9 | $ | 331.1 | |||||||
| Net earnings per share: | |||||||||||
| Basic | $ | 4.88 | $ | 3.08 | |||||||
| Diluted | $ | 4.87 | $ | 3.06 | |||||||
| Weighted average common shares outstanding: | |||||||||||
| Basic | 104.3 | 107.4 | |||||||||
| Diluted | 104.6 | 108.2 | |||||||||
8
| Roper Technologies, Inc. | |||||||||||||||||||||||
| Selected Segment Financial Data (unaudited) | |||||||||||||||||||||||
| (Amounts in millions; percentages of net revenues) | |||||||||||||||||||||||
| Three months ended March 31, | |||||||||||||||||||||||
| 2026 | 2025 | ||||||||||||||||||||||
| Amount | % | Amount | % | ||||||||||||||||||||
| Net revenues: | |||||||||||||||||||||||
| Application Software | $ | 1,191.5 | $ | 1,068.2 | |||||||||||||||||||
| Network Software | 427.6 | 375.9 | |||||||||||||||||||||
| Technology Enabled Products | 476.2 | 438.7 | |||||||||||||||||||||
| Total | $ | 2,095.3 | $ | 1,882.8 | |||||||||||||||||||
| Gross profit: | |||||||||||||||||||||||
| Application Software | $ | 822.6 | 69.0% | $ | 720.8 | 67.5% | |||||||||||||||||
| Network Software | 360.4 | 84.3% | 315.6 | 84.0% | |||||||||||||||||||
| Technology Enabled Products | 270.8 | 56.9% | 257.3 | 58.7% | |||||||||||||||||||
| Total | $ | 1,453.8 | 69.4% | $ | 1,293.7 | 68.7% | |||||||||||||||||
| Operating profit*: | |||||||||||||||||||||||
| Application Software | $ | 319.2 | 26.8% | $ | 276.8 | 25.9% | |||||||||||||||||
| Network Software | 173.8 | 40.6% | 166.7 | 44.3% | |||||||||||||||||||
| Technology Enabled Products | 154.4 | 32.4% | 153.6 | 35.0% | |||||||||||||||||||
| Total | $ | 647.4 | 30.9% | $ | 597.1 | 31.7% | |||||||||||||||||
| * Segment operating profit is before unallocated corporate general and administrative expenses and enterprise-wide stock-based compensation. These expenses were $77.8 and $71.3 for the three months ended March 31, 2026 and 2025, respectively. | |||||||||||||||||||||||
9
| Roper Technologies, Inc. | |||||||||||
| Condensed Consolidated Statements of Cash Flows (unaudited) | |||||||||||
| (Amounts in millions) | |||||||||||
| Three months ended March 31, | |||||||||||
| 2026 | 2025 | ||||||||||
| Cash flows from operating activities: | |||||||||||
| Net earnings | $ | 508.9 | $ | 331.1 | |||||||
| Adjustments to reconcile net earnings to cash flows from operating activities: | |||||||||||
| Depreciation and amortization of property, plant and equipment | 10.0 | 9.1 | |||||||||
| Amortization of intangible assets | 220.4 | 204.0 | |||||||||
| Amortization of deferred financing costs | 3.2 | 2.8 | |||||||||
| Non-cash stock compensation | 52.6 | 38.8 | |||||||||
| Equity investment (gain) loss, net | (167.3) | 44.4 | |||||||||
| Income tax provision | 126.1 | 86.9 | |||||||||
| Changes in operating assets and liabilities, net of acquired businesses: | |||||||||||
| Accounts receivable | 122.4 | 74.4 | |||||||||
| Unbilled receivables | (19.1) | (7.6) | |||||||||
| Inventories | (3.3) | (4.1) | |||||||||
| Prepaid expenses and other current assets | (41.6) | (41.3) | |||||||||
| Accounts payable | 34.4 | 2.9 | |||||||||
| Other accrued liabilities | (94.9) | (107.4) | |||||||||
| Deferred revenue | (117.1) | (70.6) | |||||||||
| Cash income taxes paid | (34.2) | (29.1) | |||||||||
| Other, net | (8.4) | (5.6) | |||||||||
| Cash provided by operating activities | 592.1 | 528.7 | |||||||||
| Cash flows from (used in) investing activities: | |||||||||||
| Acquisitions of businesses, net of cash acquired | (27.5) | (124.9) | |||||||||
| Capital expenditures | (14.3) | (9.5) | |||||||||
| Capitalized software expenditures | (15.4) | (12.4) | |||||||||
| Other, net | 1.1 | — | |||||||||
| Cash used in investing activities | (56.1) | (146.8) | |||||||||
| Cash flows from (used in) financing activities: | |||||||||||
| Borrowings (payments) under revolving credit facility, net | 1,150.0 | (125.0) | |||||||||
| Debt issuance costs | (3.9) | — | |||||||||
| Cash dividends to stockholders | (97.4) | (88.6) | |||||||||
| Repurchases of common stock | (1,500.1) | — | |||||||||
| Proceeds from (tax withholding payments for) stock-based compensation, net | (10.9) | 42.7 | |||||||||
| Treasury stock sales under employee stock purchase plan | 7.4 | 7.2 | |||||||||
| Other, net | 10.2 | (44.1) | |||||||||
| Cash used in financing activities | (444.7) | (207.8) | |||||||||
| Effect of exchange rate changes on cash | (5.8) | 10.5 | |||||||||
| Net increase in cash and cash equivalents | 85.5 | 184.6 | |||||||||
| Cash and cash equivalents, beginning of period | 297.4 | 188.2 | |||||||||
| Cash and cash equivalents, end of period | $ | 382.9 | $ | 372.8 | |||||||
10