Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted 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 and post such files).

The accompanying condensed consolidated financial statements for the three and six months ended June 30,March 31, 2019 and 2018 and 2017 are unaudited. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments, which include only normal recurring adjustments, necessary to state fairly the financial position, results of operations, comprehensive income and cash flows of Roper Technologies, Inc. and its subsidiaries ("(“Roper,"” the "Company," "we," "our"“Company,” “we,” “our” or "us"“us”) for all periods presented. The December 31, 20172018 financial position data included herein was derived from the audited consolidated financial statements included in the Company's 2017Company’s 2018 Annual Report on Form 10-K ("(“Annual Report"Report”) filed on February 23, 201825, 2019 with the Securities and Exchange Commission ("SEC"(“SEC”) but does not include all disclosures required by U.S. generally accepted accounting principles ("GAAP"(“GAAP”).

Roper'sRoper’s management has made estimates and assumptions relating to the reporting of assets and liabilities and the disclosure of contingent assets and liabilities to prepare these condensed consolidated financial statements in conformity with GAAP. Actual results could differ from those estimates.

The results of operations for the three and six months ended June 30, 2018March 31, 2019 are not necessarily indicative of the results to be expected for the full year. You should read these unaudited condensed consolidated financial statements in conjunction with Roper'sRoper’s audited consolidated financial statements and the notes thereto included in its Annual Report. Certain prior period amounts have been reclassified to conform to current period presentation.

Our accounting policies are detailed in Note 1 of the Notes to Consolidated Financial Statements inof our Annual Report. Changes to our accounting policies as a result of adopting ASC 606842 are as follows:

We elected the package of practical expedients permitted under the transition guidance within ASC 842, which allowed us: (i) to carry forward the historical lease classification, (ii) not to reassess whether any existing contract performance orcontains a longer period, depending on factslease and circumstances. We classify deferred commissions(iii) not to reassess initial direct costs for existing leases.

Operating leases are classified as current or non-current based on the timing of when we expect to recognize the expense. Theoperating lease ROU assets and current and non-current portions of deferred commissions are included in "Other current assets" and "Other assets," respectively, inoperating lease liabilities on our condensed consolidated balance sheets. At June 30, 2018 and January 1, 2018, we had $23.7 and $20.7sheet. Finance leases are not material.

Adoption of deferred commissions, respectively. We recognized $6.4 and $11.3 of expense related to deferred commissionsASC 842 resulted in the threerecognition of operating lease ROU assets and six months ended June 30, 2018, respectively.

The FASB establishes changes to accounting principles under GAAP in the form of accounting standards updates ("ASUs"(“ASUs”) to the ASC. The Company considers the applicability and impact of all ASUs. Any recent ASUs not listed below were assessed and determined to be either not applicable or are expected to have an immaterial impact on the Company'sCompany’s results of operations, financial position or cash flows.

In May 2014, the FASB issued ASC 606, which created a single, comprehensive revenue recognition model for all contracts with customers. The Company adopted ASC 606 as of January 1, 2018 using the modified retrospective transition method. See Note 1 of the Condensed Consolidated Financial Statements for details.

In February 2016,August 2018, the FASB issued an update on lease accounting.which clarifies the accounting for implementation costs in cloud computing arrangements. This update is effective for annual reporting periods, after December 15, 2018, including interim periods within those annual periods, provides amendments to current lease accounting. These amendments include the recognition of lease assets and lease liabilities on the balance sheet and disclosing other key information about leasing arrangements.beginning after December 15, 2019. Early adoption is permitted. We have not yet completed our assessment ofThe Company is evaluating the impact of thethis update on its results of operations and financial condition.

In June 2016, the Company’s consolidatedFASB issued an update which amends the measurement of credit losses on financial statements. We are ininstruments by requiring entities to use a forward-looking approach based on expected losses rather than incurred losses to estimate credit losses on certain types of financial instruments, including trade receivables. This update is effective for public entities for fiscal years beginning after December 15, 2019, with early adoption permitted. The Company is evaluating the early stages of implementation and currently believe the primary impact upon the adoption of this update will be the recognitionon its results of a material right-of-use assetoperations and an offsetting lease liability for our real estate leases.financial condition.

Basic earnings per share were calculated using net earnings and the weighted average number of shares of common stock outstanding during the respective period. Diluted earnings per share were calculated using net earnings and the weighted average number of shares of common stock and potential common stock outstanding during the respective period. Potentially dilutive common stock consisted of stock options based upon the trading price of Roper'sRoper’s common stock. The effects of potential common stock were determined using the treasury stock method. Weighted average shares outstanding are shown below:

For the three and six months ended June 30, 2018,March 31, 2019, there were 0.6781.381 outstanding stock options, that were not included in the determination of diluted earnings per share because doing so would have been antidilutive, as compared to 0.412 and 0.5810.634 outstanding stock options that would have been antidilutive in the respective 2017 periods.

During the second quarter of 2018, Roper and Thermo Fisher Scientific, Inc. ("(“Thermo Fisher"Fisher”) entered into a definitive agreement under which Thermo Fisher will acquire 100% of the shares of Gatan, Inc. ("Gatan"(“Gatan”), a wholly owned subsidiary of Roper, for approximately $925.0 in cash. The transaction, which is expected to be completed by the end of 2018,in 2019, is subject to customary closing conditions, including regulatory approvals. Gatan is reported in the MedicalMeasurement & Scientific ImagingAnalytical Solutions segment.

At June 30,December 31, 2018 and March 31, 2019, the assets and liabilities of Gatan were reclassifiedclassified as held for sale on Roper'sRoper’s condensed consolidated balance sheet. This reclassification resulted in the recognition ofsheets. The Company recognized a deferred tax liability of $10.0 associated with the excess of book basis over tax basis in the shares of Gatan.Gatan during 2018.

The Roper Technologies, Inc. 2016 Incentive Plan ("(“2016 Plan"Plan”) is a stock-based compensation plan used to grant incentive stock options, nonqualified stock options, restricted stock, stock appreciation rights or equivalent instruments to Roper'sRoper’s employees, officers, directors and consultants.

The following table provides information regarding the Company'sCompany’s stock-based compensation expense:

Roper records compensation expense for employee stock options based on the estimated fair value of the options on the date of grant using the Black-Scholes option-pricing model. Historical data is used to estimate the expected price volatility, the expected dividend yield, the expected option life and the expected forfeiture rate. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of grant for the estimated life of the option. The following weighted average assumptions were used to estimate the fair value of options granted during current and prior year periods using the Black-Scholes option-pricing model:

Cash received from option exercises for the sixthree months ended June 30,March 31, 2019 and 2018 was $36.8 and 2017 was $39.3 and $26.9,$29.1, respectively.

During the sixthree months ended June 30, 2018, 0.108March 31, 2019, 0.147 restricted awardsshares vested with a weighted average grant date fair value of $183.90$180.62 per restricted share and a weighted average vest date fair value of $277.72$303.78 per restricted share.

The components of inventory were as follows:

The carrying value of goodwill by segment was as follows:

Other relates primarily to working capitalpurchase accounting adjustments for acquisitions.

Other intangible assets were comprised of:

Amortization expense of other intangible assets was $152.6$82.6 and $146.5$75.1 during the sixthree months ended June 30,March 31, 2019 and 2018, and 2017, respectively.

An evaluation of the carrying value of goodwill and indefinite-lived intangibles is required to be performed on an annual basis and on 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. There have been no events or changes in circumstances which indicate an interim impairment review is required in 2018.2019. The Company will perform the annual analysis during the fourth quarter of 2018.2019.

Roper'sRoper’s debt at June 30, 2018March 31, 2019 included $3,900$4,100 of fixed-rate senior notes with the following fair values:

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

Roper, in the ordinary course of business, is the subject of, or a party to, various pending or threatened legal actions, including product liability and employment practices that, in general, are based upon claims of the kind that have been customary over the past several years and which the Company is vigorously defending. After analyzing the Company'sCompany’s contingent liabilities on a gross basis and, based upon past experience with resolution of its product liability and employment practices claims and the limits of the primary, excess, and umbrella liability insurance coverages that are available with respect to pending claims, management believes that adequate provision has been made to cover any potential liability not covered by insurance, and that the ultimate liability, if any, arising from these actions should not have a material adverse effect on Roper'sRoper’s consolidated financial position, results of operations or cash flows.

Roper or its subsidiaries have been named defendants along with numerous industrial companies in asbestos-related litigation claims in certain U.S. states. No significant resources have been required by Roper to respond to these cases and Roper believes it has valid defenses to such claims and, if required, intends to defend them vigorously. Given the state of these claims, it is not possible to determine the potential liability, if any. In April 2018, a stockholder derivative complaint was filed in Sarasota County, Florida against the Company, nominally, and its directors and former chairman & chief executive officer (“CEO”), alleging the directors breached their fiduciary duties and were unjustly enriched by the compensation earned by the nonexecutive directors and the CEO in 2015 and 2016. A motion to dismiss the complaint is pending.

Roper'sRoper’s consolidated financial statements include accruals for potential product liability and warranty claims based on its claims experience. Such costs are accrued at the time revenue is recognized. A summary of the warranty accrual activity for the sixthree months ended June 30, 2018March 31, 2019 is presented below:

Net revenues and operating profit by segment are set forth in the following table:

*Segment operating profit is before unallocated corporate general and administrative expenses. Theseexpenses; these expenses were $44.9$38.5 and $37.8$41.7 for the three months ended June 30,March 31, 2019 and 2018, and 2017, respectively, and $86.6 and $72.1 for the six months ended June 30, 2018 and 2017, respectively.

The change in our net contract assets/(liabilities) from January 1,December 31, 2018, to June 30, 2018March 31, 2019 was due primarily to the timing of payments and invoicing relating to SaaS and PCS renewals, partially offset by revenues recognized in the three and six months ended June 30, 2018March 31, 2019 of $187.1 and $463.5, respectively,$308.2, related to our contract liability balances at January 1,December 31, 2018. In addition, the impact of the 2018 acquisitions increased net contract liabilities by $26.0, partially offset by the classification of Gatan as held for sale, which decreased net contract liabilities by $15.3.

In order to determine revenues recognized in the period from contract liabilities, we allocate revenue to the individual deferred revenue, BIE or customer deposit 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 the three and six months ended June 30, 2018.March 31, 2019.

You should read the following discussion in conjunction with Management'sManagement’s Discussion and Analysis of Financial Condition and Results of Operations included in our Annual Report on Form 10-K for the year ended December 31, 2017 ("2018 (“Annual Report"Report”) as filed on February 23, 201825, 2019 with the U.S. Securities and Exchange Commission ("SEC"(“SEC”) and the Notes to Condensed Consolidated Financial Statements included elsewhere in this report.

This report includes "forward-looking statements"“forward-looking statements” 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 SEC or in connection with oral statements made to the press, potential investors or others. All statements that are not historical facts are "forward-looking“forward-looking statements."”  Forward-looking statements may be indicated by words or phrases such as "anticipate," "estimate," "plans," "expects," "projects," "should," "will," "believes"“anticipate,” “estimate,” “plans,” “expects,” “projects,” “should,” “will,” “believes” or "intends"“intends” and similar words and phrases. These statements reflect management'smanagement’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 expressed 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 internal 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, assumptions regarding demand for our products, the cost, timing and success of product upgrades and new product introductions, raw materialsmaterial costs, expected pricing levels, expected outcomes of pending litigation, competitive conditions and general economic conditions. These assumptions 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:

We believe these forward-looking statements are reasonable; however,reasonable. However, 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 statementsthem in light of new information or future events.

Roper Technologies, Inc. ("(“Roper," "we," "us"” “we,” “us” or "our"“our”) is a diversified technology company. We operate businesses that design and develop software (both license and software-as-a-service) and engineered products and solutions for a variety of niche end markets.

We pursue consistent and sustainable growth in earnings and cash flow by emphasizing continuous improvement in the operating performance of our existing businesses and by acquiring other businesses that offer high value-added software, services, engineered products and solutions that we believe are capable of achieving growth and maintaining high margins. We compete in many niche markets and believe we are the market leader or a competitive alternative to the market leader in most of these markets.

There were no material changes during the sixthree months ended June 30, 2018March 31, 2019 to the items that we disclosed as our critical accounting policies and estimates in "Item“Item 7. Management'sManagement’s Discussion and Analysis of Financial Condition and Results of Operations"Operations” in our Annual Report.

Information regarding new accounting pronouncements is included in Note 2 of the Notes to Condensed Consolidated Financial Statements.  

The following table sets forth selected information for the periods indicated. Percentages are the particular line item shown as a percentage of net revenues. Percentages may not foot due to rounding.