XML 34 R22.htm IDEA: XBRL DOCUMENT
v3.22.4

Business Segments | 3 Months Ended
--- | ---
Dec. 31, 2022
Segment Reporting [Abstract] |
Business Segments | BUSINESS SEGMENTS As disclosed in Note 5, the financial results of Climate Technologies, InSinkErator and Therm-O-Disc are reported as discontinued operations for all periods presented. As a result of these portfolio actions, the Company has realigned its business segments and now reports six segments and two business groups, which are highlighted in the table below. The Company also reclassified certain product sales that were previously reported in Control Systems & Software to Discrete Automation.
| INTELLIGENT DEVICES |  | SOFTWARE AND CONTROL |
| •Final Control |  | •Control Systems & Software |
| •Measurement & Analytical |  | •AspenTech |
| •Discrete Automation |  |  |
| •Safety & Productivity |  |  |
The new segments were previously described as follows: Final Control was the Valves, Actuators & Regulators product offering; Measurement & Analytical was the Measurement & Analytical instrumentation product offering; Discrete Automation was the Industrial Solutions product offering; Safety & Productivity was the Tools & Home Products segment, excluding the divested InSinkErator business; Control Systems & Software was the Systems & Software product offering; and, AspenTech remains unchanged. The AspenTech segment was identified in the third quarter of fiscal 2022 as a result of the Heritage AspenTech acquisition and reflects the combined results of Heritage AspenTech and the Emerson Industrial Software Business (see Note 4 for further details). The results for this new segment include the historical results of the Emerson Industrial Software Business (which were previously reported in the Control Systems & Software segment), while results related to the Heritage AspenTech business only include periods subsequent to the close of the transaction. Prior year amounts have been reclassified to conform to the current year presentation.
|  |  | Three Months Ended December 31,
|  |  |  |  | Sales |  | Earnings
|  |  |  |  |  |  |  |  | 2021 |  |  | 2022 |  |  | 2021 |  |  | 2022 |
Final Control |  |  |  |  |  |  |  |  | $ | 817 |  |  | 862 |  |  | 122 |  |  | 158 |
Measurement & Analytical |  |  |  |  |  |  |  |  | 737 |  |  | 749 |  |  | 170 |  |  | 175 |
Discrete Automation |  |  |  |  |  |  |  |  | 617 |  |  | 618 |  |  | 120 |  |  | 121 |
Safety & Productivity |  |  |  |  |  |  |  |  | 351 |  |  | 310 |  |  | 65 |  |  | 63 |
Intelligent Devices |  |  |  |  |  |  |  |  | 2,522 |  |  | 2,539 |  |  | 477 |  |  | 517 |
Control Systems & Software |  |  |  |  |  |  |  |  | 570 |  |  | 606 |  |  | 116 |  |  | 107 |
AspenTech |  |  |  |  |  |  |  |  | 82 |  |  | 243 |  |  | (2) |  |  | (33) |
Software and Control |  |  |  |  |  |  |  |  | 652 |  |  | 849 |  |  | 114 |  |  | 74 |
Stock compensation |  |  |  |  |  |  |  |  |  |  |  |  | (34) |  |  | (102) |
Unallocated pension and postretirement costs |  |  |  |  |  |  |  |  |  |  |  |  | 26 |  |  | 45 |
Corporate and other |  |  |  |  |  |  |  |  |  |  |  |  | (55) |  |  | (64) |
Gain on subordinated interest |  |  |  |  |  |  |  |  |  |  |  |  | 453 |  |  | — |
Eliminations/Interest |  |  |  |  |  |  |  |  | (18) |  |  | (15) |  |  | (39) |  |  | (48) |
Total |  |  |  |  |  |  |  |  | $ | 3,156 |  |  | 3,373 |  |  | 942 |  |  | 422 |
Corporate and other for the three months ended December 31, 2022 included a loss of $47 related to the Company's exit of business operations in Russia and a mark-to-market gain of $35 related to foreign currency forward contracts entered into by AspenTec h to mitigate the impact of foreign currency exchange associated with the Micromine purchase price, while the three months ended December 31, 2021 included acquisition/divestiture costs of $23. Depreciation and amortization (includes intellectual property, customer relationships and capitalized software) by business segment are summarized below:
|  |  | Three Months Ended December 31,
|  |  |  |  |  |  | 2021 |  |  | 2022 |
Final Control |  |  |  |  |  |  | $ | 53 |  |  | 45 |
Measurement & Analytical |  |  |  |  |  |  | 31 |  |  | 30 |
Discrete Automation |  |  |  |  |  |  | 23 |  |  | 21 |
Safety & Productivity |  |  |  |  |  |  | 15 |  |  | 14 |
Intelligent Devices |  |  |  |  |  |  | 122 |  |  | 110 |
Control Systems & Software |  |  |  |  |  |  | 25 |  |  | 21 |
AspenTech |  |  |  |  |  |  | 23 |  |  | 123 |
Software and Control |  |  |  |  |  |  | 48 |  |  | 144 |
Corporate and other |  |  |  |  |  |  | 8 |  |  | 6 |
Total |  |  |  |  |  |  | $ | 178 |  |  | 260 |
Sales by geographic destination, Americas, Asia, Middle East & Africa ("AMEA") and Europe, are summarized below:
| Three Months Ended December 31, |  | Three Months Ended December 31,
|  | 2021 |  | 2022
|  | Americas |  | AMEA |  | Europe |  | Total |  | Americas |  | AMEA |  | Europe |  | Total
Final Control |  | $ | 352 |  |  | 336 |  |  | 129 |  |  | 817 |  |  | 446 |  |  | 308 |  |  | 108 |  |  | 862 |
Measurement & Analytical |  | 311 |  |  | 296 |  |  | 130 |  |  | 737 |  |  | 396 |  |  | 246 |  |  | 107 |  |  | 749 |
Discrete Automation |  | 274 |  |  | 183 |  |  | 160 |  |  | 617 |  |  | 291 |  |  | 175 |  |  | 152 |  |  | 618 |
Safety & Productivity |  | 270 |  |  | 16 |  |  | 65 |  |  | 351 |  |  | 236 |  |  | 17 |  |  | 57 |  |  | 310 |
Intelligent Devices |  | 1,207 |  |  | 831 |  |  | 484 |  |  | 2,522 |  |  | 1,369 |  |  | 746 |  |  | 424 |  |  | 2,539 |
Control Systems & Software |  | 268 |  |  | 173 |  |  | 129 |  |  | 570 |  |  | 294 |  |  | 185 |  |  | 127 |  |  | 606 |
AspenTech |  | 54 |  |  | 16 |  |  | 12 |  |  | 82 |  |  | 112 |  |  | 63 |  |  | 68 |  |  | 243 |
Software and Control |  | 322 |  |  | 189 |  |  | 141 |  |  | 652 |  |  | 406 |  |  | 248 |  |  | 195 |  |  | 849 |
Total |  | $ | 1,529 |  |  | 1,020 |  |  | 625 |  |  | 3,174 |  |  | 1,775 |  |  | 994 |  |  | 619 |  |  | 3,388 |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration