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Business Segment Information | 12 Months Ended
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Sep. 30, 2025
Segment Reporting [Abstract] |
Business Segment Information | Business Segment Information We determine our operating segments based on the information used by our chief operating decision maker (CODM), our Chief Executive Officer, to allocate resources and assess performance. We organize our business into three operating segments: Intelligent Devices, Software & Control, and Lifecycle Services. This structure emphasizes our essential offerings, leverages our sharpened industry focus, and recognizes the growing importance of software in delivering value to our customers. The composition of our segments is as follows: Intelligent Devices The Intelligent Devices operating segment combines a comprehensive portfolio of smart products that create the foundation of an agile, resilient, and sustainable production system. This comprehensive portfolio includes: •Power Control - Low and medium voltage variable frequency drives as well as low and medium voltage motor control; •Motion Control - Servo drives, rotary servo motors, linear actuators, autonomous mobile robots, and independent cart technologies offering a comprehensive portfolio of servo control and production logistics technologies; •Safety, Sensing, & Industrial Components - Safety devices, sensing devices, motor control and circuit protection devices, operator devices, signaling devices, relays, and electrical control accessories; and •Micro Control & Distributed I/O - Micro programmable logic controllers and distributed input/output platforms. Software & Control The Software & Control operating segment contains a comprehensive portfolio of production automation and production operations platforms, including hardware and software. This integrated portfolio is merging information technology (IT) and operational technology (OT), bringing the benefits of the Connected Enterprise® to the production system. Our production automation portfolio is multi-discipline and scalable with the ability to handle applications in discrete, batch/hybrid and continuous process, drives control, motion and robotics control, and machine and process safety. Our products include programmable automation controllers, design, visualization and simulation software, human machine interface products, industrial computers, machine and process safety products, industrial networks, and security products. Our production operations portfolio helps industrial clients to plan, execute, manage, and optimize their production leveraging industrial data and software. Our software products include manufacturing execution systems, performance, quality, supply chain management, data management, edge, analytics, and machine learning software that enables customers to improve operational productivity and meet regulatory requirements. These solutions enable enterprise visibility, reduction of unplanned downtime, and optimization of processes. Lifecycle Services The Lifecycle Services operating segment contains a complete portfolio of professionally delivered services and annually recurring managed support contracts. This comprehensive portfolio combines technology and domain expertise to help maximize customers’ investment and provide total lifecycle support as they innovate, design, operate, and sustain their business investments. This includes: •consulting services including cybersecurity and digital transformation strategy and design; •professional services including global automation and information program and project management and delivery capabilities; •connected services including operational technology/plant network, cloud, predictive/prescriptive analytics, remote support, and managed services; •field services including asset management, on-site support, and safety; •workforce services including instructor-led and virtual training, learning, and enablement; •industrial automation and information solutions and custom-engineered systems that incorporate our own and third-party hardware and software products; and •Sensia Joint Venture, which exclusively serves the oil, gas, and petrochemical industry through a combination of connected products and digital automation services and solutions. Sales and operating results of our reportable segments were (in millions):
|  | 2025
|  | Intelligent Devices |  | Software & Control |  | Lifecycle Services |  | Total
Sales |  | $ | 3,756 |  |  | $ | 2,383 |  |  | $ | 2,203 |  |  | $ | 8,342 |
Less: |  |  |  |  |  |  |  |
Segment cost of sales |  | (2,045) |  |  | (697) |  |  | (1,459) |  |  |
Segment selling, general and administrative expenses |  | (761) |  |  | (612) |  |  | (377) |  |  |
Segment engineering and development expenses |  | (266) |  |  | (361) |  |  | (52) |  |  |
Other segment items (1) |  | (8) |  |  | (5) |  |  | 4 |  |  |
Segment operating earnings |  | $ | 676 |  |  | $ | 708 |  |  | $ | 319 |  |  | 1,703 |
Purchase accounting depreciation and amortization, and impairment |  |  |  |  |  |  |  | (365) |
Corporate and other (2) |  |  |  |  |  |  |  | (125) |
Non-operating pension and postretirement benefit cost |  |  |  |  |  |  |  | (1) |
Net legacy asbestos and environmental charges (2) |  |  |  |  |  |  |  | (154) |
Change in fair value of investments |  |  |  |  |  |  |  | (3) |
Restructuring reversals |  |  |  |  |  |  |  | 5 |
Interest expense, net |  |  |  |  |  |  |  | (143) |
Income before income taxes |  |  |  |  |  |  |  | $ | 917 |
(1) Other segment items are primarily comprised of foreign currency adjustments for each segment. (2) Legacy asbestos and environmental charges were previously included in Corporate and other. All periods have been recast to conform with current year presentation.
|  | 2024
|  | Intelligent Devices |  | Software & Control |  | Lifecycle Services |  | Total
Sales |  | $ | 3,804 |  |  | $ | 2,187 |  |  | $ | 2,273 |  |  | $ | 8,264 |
Less: |  |  |  |  |  |  |  |
Segment cost of sales |  | (2,072) |  |  | (678) |  |  | (1,496) |  |  |
Segment selling, general and administrative expenses |  | (783) |  |  | (630) |  |  | (363) |  |  |
Segment engineering and development expenses |  | (254) |  |  | (351) |  |  | (46) |  |  |
Other segment items (1) |  | 5 |  |  | 2 |  |  | (3) |  |  |
Segment operating earnings |  | $ | 700 |  |  | $ | 530 |  |  | $ | 365 |  |  | 1,595 |
Purchase accounting depreciation and amortization, and impairment |  |  |  |  |  |  |  | (144) |
Corporate and other (2) |  |  |  |  |  |  |  | (114) |
Non-operating pension and postretirement benefit credit |  |  |  |  |  |  |  | 20 |
Net legacy asbestos and environmental charges (2) |  |  |  |  |  |  |  | (21) |
Change in fair value of investments |  |  |  |  |  |  |  | — |
Restructuring charges |  |  |  |  |  |  |  | (97) |
Interest expense, net |  |  |  |  |  |  |  | (139) |
Income before income taxes |  |  |  |  |  |  |  | $ | 1,100 |
(1) Other segment items are primarily comprised of foreign currency adjustments for each segment, adjustments related to acquisition earnouts for Intelligent Devices, and income from royalties for Software and Control. (2) Legacy asbestos and environmental charges were previously included in Corporate and other. All periods have been recast to conform with current year presentation.
|  | 2023
|  | Intelligent Devices |  | Software & Control |  | Lifecycle Services |  | Total
Sales |  | $ | 4,098 |  |  | $ | 2,886 |  |  | $ | 2,074 |  |  | $ | 9,058 |
Less: |  |  |  |  |  |  |  |
Segment cost of sales |  | (2,182) |  |  | (869) |  |  | (1,508) |  |  |
Segment selling, general and administrative expenses |  | (815) |  |  | (665) |  |  | (382) |  |  |
Segment engineering and development expenses |  | (268) |  |  | (399) |  |  | (43) |  |  |
Other segment items (1) |  | (5) |  |  | — |  |  | 7 |  |  |
Segment operating earnings |  | $ | 828 |  |  | $ | 953 |  |  | $ | 148 |  |  | 1,929 |
Purchase accounting depreciation and amortization, and impairment |  |  |  |  |  |  |  | (264) |
Corporate and other (2) |  |  |  |  |  |  |  | (110) |
Non-operating pension and postretirement benefit cost |  |  |  |  |  |  |  | (83) |
Net legacy asbestos and environmental charges (2) |  |  |  |  |  |  |  | (18) |
Change in fair value of investments |  |  |  |  |  |  |  | 279 |
Restructuring charges |  |  |  |  |  |  |  | — |
Interest expense, net |  |  |  |  |  |  |  | (125) |
Income before income taxes |  |  |  |  |  |  |  | $ | 1,608 |
(1) Other segment items are primarily comprised of foreign currency adjustments for each segment and income from royalties for Software and Control. (2) Legacy asbestos and environmental charges were previously included in Corporate and other. All periods have been recast to conform with current year presentation. Among other considerations, we evaluate performance and allocate resources based upon segment operating earnings before purchase accounting depreciation and amortization, and impairment, corporate and other, non-operating pension and postretirement benefit (cost) credit, net legacy asbestos and environmental charges, change in fair value of investments, restructuring charges aligned with enterprise-wide strategic initiatives, and interest expense, net. Our CODM uses segment operating earnings as the key performance metric to regularly monitor performance compared to prior periods, annual operating plan, and forecasts and to make decisions. Depending on the product, intersegment sales within a single legal entity are either at cost or cost plus a mark-up, which does not necessarily represent a market price. Sales between legal entities are at an appropriate transfer price. Segment selling, general and administrative expenses represent costs directly managed by the segments and allocated to the segments. We allocate costs related to shared segment operating activities to the segments consistent with the methodology used by management to assess segment performance. The following tables summarize the identifiable assets at September 30, 2025, 2024, and 2023, and the provision for depreciation and amortization and the amount of capital expenditures for property for the years then ended, for each of the reportable segments and Corporate (in millions):
|  | 2025 |  | 2024 |  | 2023
Identifiable assets |  |  |  |  |  |
Intelligent Devices |  | $ | 3,177 |  |  | $ | 2,798 |  |  | $ | 2,676 |
Software & Control |  | 3,795 |  |  | 4,293 |  |  | 4,241 |
Lifecycle Services |  | 1,897 |  |  | 2,036 |  |  | 1,836 |
Corporate |  | 2,350 |  |  | 2,105 |  |  | 2,551 |
Total |  | $ | 11,219 |  |  | $ | 11,232 |  |  | $ | 11,304 |
Depreciation and amortization |  |  |  |  |  |
Intelligent Devices |  | $ | 62 |  |  | $ | 58 |  |  | $ | 50 |
Software & Control |  | 74 |  |  | 68 |  |  | 56 |
Lifecycle Services |  | 43 |  |  | 43 |  |  | 35 |
Corporate |  | 5 |  |  | 4 |  |  | 2 |
Total |  | 184 |  |  | 173 |  |  | 143 |
Purchase accounting depreciation and amortization |  | 141 |  |  | 144 |  |  | 107 |
Total |  | $ | 325 |  |  | $ | 317 |  |  | $ | 250 |
Capital expenditures for property |  |  |  |  |  |
Intelligent Devices |  | $ | 81 |  |  | $ | 75 |  |  | $ | 61 |
Software & Control |  | 47 |  |  | 67 |  |  | 40 |
Lifecycle Services |  | 38 |  |  | 53 |  |  | 24 |
Corporate |  | 20 |  |  | 30 |  |  | 36 |
Total |  | $ | 186 |  |  | $ | 225 |  |  | $ | 161 |
Identifiable assets at Corporate consist principally of cash, net deferred income tax assets, prepaid pension, and property. Property shared by the segments and used in operating activities is also reported in Corporate identifiable assets and Corporate capital expenditures. Corporate identifiable assets include shared net property balances of $274 million, $261 million, and $241 million at September 30, 2025, 2024, and 2023, respectively, for which depreciation expense has been allocated to segment operating earnings based on the expected benefit to be realized by each segment. Corporate capital expenditures in 2025, 2024, and 2023, primarily consist of property that will be shared by our operating segments. We conduct a significant portion of our business activities outside the United States. The following tables present sales and property by geographic region (in millions):
|  | Sales |  | Property
|  | 2025 |  | 2024 |  | 2023 |  | 2025 |  | 2024 |  | 2023
North America |  | $ | 5,270 |  |  | $ | 5,053 |  |  | $ | 5,224 |  |  | $ | 516 |  |  | $ | 526 |  |  | $ | 479 |
Europe, Middle East and Africa |  | 1,488 |  |  | 1,504 |  |  | 1,871 |  |  | 149 |  |  | 142 |  |  | 116 |
Asia Pacific |  | 1,024 |  |  | 1,073 |  |  | 1,358 |  |  | 116 |  |  | 91 |  |  | 66 |
Latin America |  | 560 |  |  | 634 |  |  | 605 |  |  | 16 |  |  | 18 |  |  | 23 |
Total |  | $ | 8,342 |  |  | $ | 8,264 |  |  | $ | 9,058 |  |  | $ | 797 |  |  | $ | 777 |  |  | $ | 684 |
We attribute sales to the geographic regions based on the country of destination. Sales in North America include $4,847 million, $4,612 million, and $4,773 million related to the U.S. in 2025, 2024, and 2023, respectively. 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. Sales to our two largest distributors in 2025, 2024, and 2023, which are attributable to all three segments, were approximately 20 percent of our total sales.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name 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