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| ROP > SEC Filings for ROP > Form 8-K on 21-Apr-2009 | All Recent SEC Filings |
21-Apr-2009
Regulation FD Disclosure
In May 2008, the FASB issued FSP APB 14-1, "Accounting for Convertible Debt Instruments That May Be Settled in Cash upon Conversion (Including Partial Cash Settlement)" ("FSP APB 14-1"). FSP APB 14-1 requires issuers to separately account for the liability and equity components of covered convertible debt instruments to reflect the issuer's nonconvertible debt borrowing rate when interest cost is recognized in subsequent periods. We adopted FSP APB 14-1 on January 1, 2009, and are required to apply this standard on a retrospective basis. Adoption of FSP APB 14-1 resulted in the following non-cash reductions in basic and diluted earnings per common share from continuing operations.
Roper Industries, Inc. and Subsidiaries
Supplemental Condensed Consolidated Statements of Earnings Information
(unaudited)
Calendar Period Presentation
(Amounts in thousands, except per share data)
2007 2008
Q1 Q2 Q3 Q4 Year Q1 Q2 Q3 Q4 Year
Net earnings from continuing operations, as reported $ 51,434 $ 61,229 $ 65,140 $ 72,230 $ 250,033 $ 63,582 $ 75,673 $ 75,199 $ 72,061 $ 286,515
Adjustments to reflect the impact of adopting FASB
Staff Position (FSP) No. APB 14-1:
Incremental interest expense (1) (1,622) (1,650) (1,679) (1,709) (6,660) (1,739) (1,769) (1,800) (1,831) (7,139)
Tax effect of incremental interest expense 568 578 588 598 2,332 608 619 630 641 2,498
Net earnings from continuing operations, as restated $ 50,380 $ 60,157 $ 64,049 $ 71,119 $ 245,705 $ 62,451 $ 74,523 $ 74,029 $ 70,871 $ 281,874
Net earnings from continuing operations, per share, as
reported,
before restatement for impact of adopting FASB Staff
Position (FSP) No. APB 14-1
Basic $ 0.59 $ 0.69 $ 0.74 $ 0.81 $ 2.83 $ 0.71 $ 0.85 $ 0.84 $ 0.80 $ 3.20
Diluted $ 0.56 $ 0.66 $ 0.70 $ 0.77 $ 2.68 $ 0.68 $ 0.80 $ 0.80 $ 0.78 $ 3.06
Net earnings from continuing operations, per share, as
adjusted,
after restatement for impact of adopting FASB Staff
Position (FSP) No. APB 14-1
Basic $ 0.57 $ 0.68 $ 0.72 $ 0.80 $ 2.78 $ 0.70 $ 0.83 $ 0.83 $ 0.79 $ 3.15
Diluted $ 0.55 $ 0.65 $ 0.68 $ 0.76 $ 2.64 $ 0.67 $ 0.79 $ 0.79 $ 0.77 $ 3.01
Weighted average common and common
equivalent shares outstanding:
Basic 87,918 88,359 88,575 88,698 88,390 89,037 89,476 89,629 89,726 89,468
Diluted 92,300 92,915 93,559 93,916 93,229 93,447 94,398 94,251 92,336 93,699
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(1) - represents the incremental interest expense resulting from the amortization of the equity component of our convertible notes.
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