Cash Flow Statement
Quarterly Data

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

Roper Technologies Inc., consolidated cash flow statement (quarterly data)

US$ in thousands

3 months ended:	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019	Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018
Net earnings from continuing operations	345,600)	361,000)	284,300)	247,300)	276,900)	225,000)	236,400)	199,900)	207,400)	305,400)	269,900)	255,800)	234,400)	219,200)	240,300)	871,100)	277,500)	249,700)	369,600)	257,100)	247,600)	228,400)	211,300)
Depreciation and amortization of property, plant and equipment	9,000)	8,700)	8,600)	9,300)	9,300)	9,100)	9,600)	11,500)	9,000)	16,100)	13,100)	15,100)	13,200)	12,300)	12,800)	13,300)	12,500)	11,700)	11,700)	12,200)	12,100)	12,600)	12,600)
Amortization of intangible assets	182,200)	175,500)	175,100)	174,400)	147,100)	145,600)	145,700)	145,600)	145,600)	146,900)	146,300)	147,600)	116,800)	101,200)	101,800)	103,600)	93,800)	86,500)	82,900)	81,900)	82,600)	77,700)	75,300)
Amortization of deferred financing costs	2,600)	2,500)	2,600)	2,600)	2,900)	3,200)	3,100)	3,400)	3,300)	3,400)	3,400)	3,500)	3,100)	2,200)	2,100)	2,100)	1,900)	1,600)	1,700)	1,700)	1,400)	1,600)	1,600)
Non-cash stock compensation	35,700)	33,900)	29,600)	27,700)	29,600)	28,200)	33,000)	33,200)	33,600)	37,700)	31,600)	33,300)	30,200)	30,500)	27,700)	24,100)	26,100)	29,000)	25,300)	52,700)	27,100)	28,000)	26,000)
Equity investment activity, net	(33,900)	(64,800)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Impairment of intangible assets	—)	—)	—)	—)	—)	—)	—)	99,500)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Loss on debt extinguishment	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	15,900)	—)	—)
Gain on disposal of assets and businesses, net of associated income tax	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(21,600)	—)	—)	—)	—)	(599,900)	1,100)	1,100)	(89,600)	—)	—)	—)	—)
Income tax provision	97,000)	102,700)	75,800)	61,100)	78,600)	91,900)	64,800)	64,800)	72,600)	79,800)	65,700)	61,700)	68,700)	64,900)	64,300)	75,700)	228,000)	(60,000)	(17,600)	(8,300)	2,400)	(47,900)	(13,800)
Accounts receivable	(20,900)	(51,300)	98,000)	(45,800)	(6,900)	(30,400)	85,600)	(91,300)	(69,600)	6,400)	54,300)	(72,800)	76,500)	(19,500)	69,100)	(98,800)	13,600)	(50,400)	88,900)	(53,400)	(1,700)	(45,700)	17,300)
Unbilled receivables	(400)	(6,200)	(8,700)	10,600)	3,000)	(14,300)	(10,400)	6,800)	3,200)	(11,600)	(17,800)	9,800)	(6,800)	800)	(43,100)	14,600)	10,400)	(11,700)	(25,300)	6,100)	3,900)	(13,500)	(10,500)
Inventories	(5,300)	(2,100)	(3,800)	(9,500)	(9,900)	(10,700)	(13,000)	(2,900)	3,700)	(12,600)	(2,100)	19,800)	3,900)	(8,800)	(10,300)	7,900)	(6,800)	1,100)	(19,500)	8,600)	(15,200)	(6,200)	(9,000)
Accounts payable	(5,800)	6,700)	11,200)	(3,400)	(6,200)	20,800)	10,100)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Other accrued liabilities	19,000)	12,700)	(103,700)	51,400)	5,700)	41,900)	(106,600)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Accounts payable and accrued liabilities (legacy)	—)	—)	—)	—)	—)	—)	—)	29,500)	19,300)	63,200)	(45,700)	68,300)	34,500)	89,000)	(70,200)	47,000)	34,800)	(1,200)	(92,800)	51,200)	48,400)	15,100)	(45,900)
Deferred revenue	116,900)	(36,900)	(61,400)	68,100)	(53,800)	10,200)	28,400)	133,000)	(8,700)	(20,700)	60,900)	114,400)	(53,200)	(7,900)	3,600)	82,300)	(24,700)	39,300)	11,900)	54,200)	(7,100)	13,200)	26,300)
Changes in operating assets and liabilities, net of acquired businesses	103,500)	(77,100)	(68,400)	71,400)	(68,100)	17,500)	(5,900)	75,100)	(52,100)	24,700)	49,600)	139,500)	54,900)	53,600)	(50,900)	53,000)	27,300)	(22,900)	(36,800)	66,700)	28,300)	(37,100)	(21,800)
Cash taxes paid for gain on disposal of businesses	(16,400)	—)	—)	(419,200)	(156,700)	(377,900)	—)	—)	—)	—)	—)	—)	(191,900)	(10,000)	—)	—)	—)	—)	(39,400)	—)	—)	—)	—)
Cash income taxes paid, excluding tax associated with gain on disposal of businesses	(104,100)	(215,500)	(16,000)	(101,400)	(118,100)	(257,100)	(22,300)	(79,800)	(89,600)	(134,100)	(17,200)	(77,100)	(183,600)	(28,400)	(24,100)	(76,500)	(255,000)	—)	—)	—)	—)	—)	—)
Other, net	9,500)	(6,800)	(26,700)	(16,800)	17,700)	4,200)	(23,100)	(6,300)	4,400)	(20,700)	(14,900)	(5,200)	(7,900)	3,600)	(10,100)	(300)	(8,700)	4,100)	(17,500)	100)	800)	2,800)	(9,500)
Adjustments to reconcile net earnings from continuing operations to cash flows from operating activities	285,100)	(40,900)	180,600)	(190,900)	(57,700)	(335,300)	204,900)	347,000)	126,800)	153,800)	256,000)	318,400)	(96,500)	229,900)	123,600)	(404,900)	127,000)	51,100)	(79,300)	207,000)	170,600)	37,700)	70,400)
Cash provided by operating activities	630,700)	320,100)	464,900)	56,400)	219,200)	(110,300)	441,300)	546,900)	334,200)	459,200)	525,900)	574,200)	137,900)	449,100)	363,900)	466,200)	404,500)	300,800)	290,300)	464,100)	418,200)	266,100)	281,700)
Acquisitions of businesses, net of cash acquired	(1,952,800)	(16,200)	(1,100)	(3,699,200)	(322,000)	(205,700)	(53,200)	(197,600)	(3,900)	(15,500)	—)	(364,800)	(5,500,300)	(150,200)	(2,800)	(35,400)	(1,812,700)	(536,000)	(3,200)	(87,500)	(6,000)	(1,143,400)	(38,900)
Capital expenditures	(12,900)	(15,100)	(9,800)	(10,100)	(16,300)	(8,300)	(5,400)	(10,400)	(5,300)	(10,100)	(7,100)	(8,200)	(7,500)	(7,600)	(7,900)	(10,500)	(14,300)	(12,100)	(15,800)	(14,900)	(11,100)	(13,400)	(9,700)
Capitalized software expenditures	(9,400)	(9,400)	(9,900)	(8,300)	(6,900)	(7,500)	(7,500)	(7,400)	(7,000)	(8,100)	(7,200)	(7,900)	(4,600)	(2,600)	(2,600)	(2,500)	(2,800)	(2,900)	(2,000)	(2,300)	(2,800)	(2,500)	(1,900)
Distributions from equity investment	13,200)	12,100)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Proceeds from (used in) disposal of businesses	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(100)	(400)	(100)	(3,700)	936,300)	—)	100)	220,400)	—)	—)	—)	—)
Proceeds from sale of assets	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	27,100)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Other, net	3,500)	(100)	(2,800)	400)	(1,800)	—)	—)	400)	200)	(1,200)	(100)	100)	(2,700)	—)	—)	(100)	100)	(400)	(2,200)	—)	100)	200)	(1,000)
Cash (used in) provided by investing activities	(1,958,400)	(28,700)	(23,600)	(3,717,200)	(347,000)	(221,500)	(66,100)	(215,000)	(16,000)	(34,900)	12,700)	(380,900)	(5,515,500)	(160,500)	(17,000)	887,800)	(1,829,700)	(551,300)	197,200)	(104,700)	(19,800)	(1,159,100)	(51,500)
Proceeds from senior notes	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	2,700,000)	600,000)	—)	—)	1,200,000)	—)	—)	—)	1,500,000)	—)	—)
Payments of senior notes	(700,000)	—)	—)	—)	(800,000)	—)	—)	(500,000)	—)	—)	—)	(600,000)	—)	—)	—)	—)	—)	—)	—)	(800,000)	(500,000)	—)	—)
Borrowings (payments) under revolving line of credit, net	910,000)	—)	—)	—)	—)	—)	(470,000)	90,000)	(370,000)	(375,000)	(495,000)	460,000)	1,160,000)	—)	—)	(925,000)	285,000)	230,000)	(455,000)	525,000)	(1,395,000)	1,000,000)	(535,000)
Debt issuance costs	—)	—)	—)	—)	(3,900)	—)	—)	—)	—)	—)	—)	—)	(30,000)	(12,000)	—)	(100)	(12,000)	—)	—)	(1,100)	(12,800)	—)	—)
Redemption premium for debt extinguishment	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(15,500)	—)	—)
Cash dividends to stockholders	(72,700)	(72,500)	(72,300)	(66,100)	(65,500)	(65,400)	(65,300)	(59,500)	(59,100)	(59,000)	(58,800)	(54,100)	(53,400)	(53,500)	(53,100)	(48,200)	(47,900)	(47,900)	(47,700)	(43,400)	(42,200)	(42,400)	(42,100)
Proceeds from stock-based compensation, net	38,500)	45,700)	15,100)	11,200)	16,100)	19,900)	21,000)	400)	18,700)	40,800)	4,400)	(8,100)	24,800)	35,600)	12,100)	(3,900)	5,800)	11,000)	22,000)	(36,000)	13,900)	8,900)	23,800)
Treasury stock sales	3,200)	3,700)	4,700)	2,700)	3,100)	3,000)	5,500)	3,300)	3,600)	3,500)	4,700)	3,200)	2,800)	1,700)	2,800)	1,600)	1,600)	1,400)	2,200)	1,300)	1,300)	1,200)	1,600)
Other	100)	(200)	—)	100)	(100)	(200)	—)	(100)	200)	(100)	(100)	(500)	(700)	(200)	(500)	500)	2,500)	(13,100)	14,200)	6,900)	(6,900)	300)	100)
Cash provided by (used in) financing activities	179,100)	(23,300)	(52,500)	(52,100)	(850,300)	(42,700)	(508,800)	(465,900)	(406,600)	(389,800)	(544,800)	(199,500)	3,803,500)	571,600)	(38,700)	(975,100)	1,435,000)	181,400)	(464,300)	(347,300)	(457,200)	968,000)	(551,600)
Cash provided by (used in) operating activities from discontinued operations	(700)	(500)	(1,200)	15,300)	32,600)	46,100)	34,000)	32,600)	113,100)	(33,700)	33,700)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Proceeds from (used in) disposition of discontinued operations	—)	5,200)	(3,200)	2,564,700)	1,200)	(10,300)	3,006,200)	115,600)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Cash used in investing activities from discontinued operations	—)	—)	—)	4,400)	(1,600)	(1,400)	(1,900)	(1,100)	(4,200)	2,000)	(2,000)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Cash provided by (used in) financing activities from discontinued operations	—)	—)	—)	(100)	100)	—)	(11,400)	(6,700)	300)	400)	(400)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Cash provided by (used in) discontinued operations	(700)	4,700)	(4,400)	2,584,300)	32,300)	34,400)	3,026,900)	140,400)	109,200)	(31,300)	31,300)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Effect of exchange rate changes on cash	(14,000)	8,400)	4,400)	26,900)	(38,800)	(18,300)	(7,300)	(7,400)	(6,100)	3,600)	(2,400)	12,400)	5,400)	10,800)	(18,100)	7,800)	(7,600)	(2,600)	4,900)	(11,100)	400)	(19,400)	16,300)
Net increase (decrease) in cash and cash equivalents	(1,163,300)	281,200)	388,800)	(1,101,700)	(984,600)	(358,400)	2,886,000)	(1,000)	14,700)	6,800)	22,700)	6,200)	(1,568,700)	871,000)	290,100)	386,700)	2,200)	(71,700)	28,100)	1,000)	(58,400)	55,600)	(305,100)

The data reveals several notable trends in the company’s financial performance and condition over the analyzed quarterly periods.

Net Earnings from Continuing Operations: The net earnings show overall volatility with periods of both growth and decline. A substantial peak occurred in December 2018 with earnings of $871.1 million, followed by notable declines and recoveries. Earnings generally trended upwards from early 2020 to late 2023, reaching highs above $345 million, reflecting periods of increased profitability.
Depreciation and Amortization: Depreciation and amortization of property, plant, and equipment remained relatively stable with modest fluctuations, generally between $9 million and $16 million quarterly. Amortization of intangible assets increased gradually over time, reaching approximately $182 million by September 2023, indicating a growing intangible asset base or acquisitions. Amortization of deferred financing costs remained low but relatively stable, within a $1.6 million to $3.5 million range.
Non-Cash Stock Compensation: Non-cash stock compensation expenses showed variability but an overall upward trend from around $26 million in early 2018 to approximately $35 million by the end of the period, suggesting growing employee-related equity remuneration costs.
Impairments and Gains/Losses on Transactions: There were significant non-recurring items: an impairment of intangible assets of nearly $100 million recorded in late 2020, a substantial loss on debt extinguishment recorded in the third quarter of 2018, and a major gain on disposal of assets and businesses especially notable in December 2019 with a gain near $600 million. These items significantly affected the company’s earnings in those quarters.
Income Tax Provision: The income tax provision exhibited large fluctuations, with some quarters showing negative values and others surging up to $228 million. This variability could be linked to the impact of one-time items and varying pre-tax income levels.
Working Capital Components: Accounts receivable and unbilled receivables figures exhibit significant volatility with inconsistent signs across periods, pointing to fluctuations in collections and billing timing. Inventories also showed wide swings, suggesting changes in stock management or operational activity. Payables and accrued liabilities showed irregular patterns, including some large swings, potentially linked to timing differences or transaction volumes.
Operating Cash Flows: Cash provided by operating activities generally grew over time, peaking significantly above $630 million in the latest reported periods. Such increases are consistent with improving operational efficiency and earnings quality, notwithstanding periods of negative cash flow in 2022.
Investing Activities: Investing activities reveal heavy expenditures, particularly on acquisitions of businesses, with several large outflows notably in 2020 and 2023, including transactions valued in the billions. Capital expenditures and capitalized software expenditures were relatively steady but showed increases in some periods, reflecting ongoing investment in core assets and technology.
Financing Activities: Financing cash flows are highly variable, influenced by borrowing and repayments under revolving credit lines, issuance and repayment of senior notes, and dividend payments, which increased steadily from about $42 million to over $72 million per quarter. The data reveals active management of debt and equity financing, including large issuances and repayments of debt. Stock-based compensation proceeds and treasury stock sales indicate ongoing equity-related activity.
Discontinued Operations: Cash flows relating to discontinued operations appeared in later quarters, showing both significant inflows and outflows linked to disposals and operational changes in these segments. Proceeds from disposition of discontinued operations amounted to multibillion-dollar levels in some quarters, reflecting major divestitures.
Effect of Exchange Rate Changes: Changes due to currency exchange rates fluctuate widely, suggesting exposure to foreign currency risks impacting cash balances.
Net Increase (Decrease) in Cash: The net cash position displays considerable volatility with steep decreases and increases, reflecting the aggregate effects of the company’s operational cash flows, investing activities notably acquisitions, and financing strategies. Noteworthy are sharp cash inflows in mid-2020 and early 2022, and steep declines in certain quarters such as late 2020 and 2022, emblematic of the dynamic cash management and capital deployment approach.

Overall, the financial data illustrates a company experiencing periods of strong earnings growth punctuated by large, non-recurring items and heavy investment and acquisition activities. Working capital levels and cash flows indicate active operational management, while financing activity reflects strategic balancing of debt and equity funding. The presence of discontinued operations and fluctuating foreign exchange impacts add further complexity to the company’s financial position.

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Roper Technologies Inc. (NASDAQ:ROP)

Cash Flow Statement Quarterly Data

Cash Flow Statement
Quarterly Data