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Revenue Recognition | 9 Months Ended
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Jun. 30, 2024
Revenue from Contract with Customer [Abstract] |
Revenue Recognition | Revenue Recognition Substantially all of our revenue is from contracts with customers. We recognize revenue as promised products are transferred to, or services are performed for, customers in an amount that reflects the consideration to which we expect to be entitled in exchange for those products and services. Our offerings consist of industrial automation and information products, solutions, and services. Our products include hardware, software, and configured-to-order products. Our solutions include custom-engineered systems and software. Our services include customer technical support and repair, asset management and optimization consulting, and training. Also included in our services is a portion of revenue related to spare parts that are managed within our services offering. Our operations are comprised of the Intelligent Devices segment, the Software & Control segment, and the Lifecycle Services segment. Revenue from the Intelligent Devices segment is predominantly comprised of product sales, which are recognized at a point in time. Revenue from the Software & Control segment is comprised of product sales, which are recognized at a point in time, and software products, which may be recognized over time if certain criteria are met. Revenue from the Lifecycle Services segment is predominantly comprised of solutions and services, which are primarily recognized over time. See Note 16 for more information. In most countries, we sell primarily through independent distributors in conjunction with our direct sales force. We sell large systems and service offerings principally through our direct sales force, though opportunities are sometimes identified through distributors. Unfulfilled Performance Obligations As of June 30, 2024, we expect to recognize approximately $1,035 million of revenue in future periods from unfulfilled performance obligations from existing contracts with customers. We expect to recognize revenue of approximately $625 million from our remaining performance obligations over the next 12 months with the remaining balance recognized thereafter. We have applied the practical expedient to exclude the value of remaining performance obligations for (i) contracts with an original term of one year or less and (ii) contracts for which we recognize revenue in proportion to the amount we have the right to invoice for services performed. The amounts above also do not include the impact of contract renewal options that are unexercised as of June 30, 2024. Disaggregation of Revenue The following tables present our revenue disaggregation by geographic region for our three operating segments (in millions). We attribute sales to the geographic regions based on the country of destination.
| Three Months Ended June 30, 2024 |  | Three Months Ended June 30, 2023
| Intelligent Devices |  | Software & Control |  | Lifecycle Services |  | Total |  | Intelligent Devices |  | Software & Control |  | Lifecycle Services |  | Total
North America | $ | 636.7 |  |  | $ | 335.6 |  |  | $ | 296.1 |  |  | $ | 1,268.4 |  |  | $ | 548.5 |  |  | $ | 460.9 |  |  | $ | 251.5 |  |  | $ | 1,260.9 |
Europe, Middle East, and Africa | 144.0 |  |  | 75.9 |  |  | 135.4 |  |  | 355.3 |  |  | 220.4 |  |  | 137.3 |  |  | 136.7 |  |  | 494.4 |
Asia Pacific | 98.6 |  |  | 58.5 |  |  | 103.8 |  |  | 260.9 |  |  | 133.7 |  |  | 113.6 |  |  | 96.2 |  |  | 343.5 |
Latin America | 78.0 |  |  | 42.1 |  |  | 45.9 |  |  | 166.0 |  |  | 65.5 |  |  | 38.8 |  |  | 35.6 |  |  | 139.9 |
Total Company Sales | $ | 957.3 |  |  | $ | 512.1 |  |  | $ | 581.2 |  |  | $ | 2,050.6 |  |  | $ | 968.1 |  |  | $ | 750.6 |  |  | $ | 520.0 |  |  | $ | 2,238.7 |
| Nine Months Ended June 30, 2024 |  | Nine Months Ended June 30, 2023
| Intelligent Devices |  | Software & Control |  | Lifecycle Services |  | Total |  | Intelligent Devices |  | Software & Control |  | Lifecycle Services |  | Total
North America | $ | 1,877.6 |  |  | $ | 1,084.9 |  |  | $ | 846.6 |  |  | $ | 3,809.1 |  |  | $ | 1,714.6 |  |  | $ | 1,297.0 |  |  | $ | 738.8 |  |  | $ | 3,750.4 |
Europe, Middle East, and Africa | 468.7 |  |  | 271.8 |  |  | 402.0 |  |  | 1,142.5 |  |  | 608.2 |  |  | 371.7 |  |  | 373.8 |  |  | 1,353.7 |
Asia Pacific | 296.8 |  |  | 207.3 |  |  | 302.3 |  |  | 806.4 |  |  | 401.7 |  |  | 281.6 |  |  | 290.9 |  |  | 974.2 |
Latin America | 215.0 |  |  | 121.7 |  |  | 134.0 |  |  | 470.7 |  |  | 203.0 |  |  | 114.7 |  |  | 99.1 |  |  | 416.8 |
Total Company Sales | $ | 2,858.1 |  |  | $ | 1,685.7 |  |  | $ | 1,684.9 |  |  | $ | 6,228.7 |  |  | $ | 2,927.5 |  |  | $ | 2,065.0 |  |  | $ | 1,502.6 |  |  | $ | 6,495.1 |
Contract Liabilities Contract liabilities primarily relate to consideration received in advance of performance under the contract. Below is a summary of our Contract liabilities balance, the portion not expected to be recognized within twelve months is included within Other liabilities in the Consolidated Balance Sheet (in millions):
| June 30, 2024 |  | June 30, 2023
Balance as of beginning of year | $ | 653.6 |  |  | $ | 541.3 |
Balance as of end of period | 669.2 |  |  | 672.5 |
The most significant changes in our Contract liabilities balance during both the nine months ended June 30, 2024 and 2023, were due to amounts billed during the period, partially offset by revenue recognized on amounts billed during the period and revenue recognized that was included in the Contract liabilities balance at the beginning of the period. In the nine months ended June 30, 2024, we recognized revenue of approximately $487.3 million that was included in the Contract liabilities balance at September 30, 2023. In the nine months ended June 30, 2023, we recognized revenue of approximately $362.7 million that was included in the Contract liabilities balance at September 30, 2022. We did not have a material amount of revenue recognized in the nine months ended June 30, 2024 and 2023, from performance obligations satisfied or partially satisfied in previous periods.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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