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BUSINESS SEGMENTS | 3 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
BUSINESS SEGMENTS | BUSINESS SEGMENTS As disclosed in Note 4, the Company completed the acquisition of NI on October 11, 2023. NI is now referred to as Test & Measurement and reported as a segment in the Software and Control business group. Summarized information about the Company's results of operations by business segment follows:
| Three Months Ended December 31, |  |
| Sales |  | Earnings (Loss) |  |  |  |
| 2023 |  |  | 2024 |  |  | 2023 |  |  | 2024 |  |  |  |  |  |  |  |  |
Final Control | $ | 940 |  |  | 976 |  |  | 194 |  |  | 236 |  |  |  |  |  |  |  |  |
Measurement & Analytical | 947 |  |  | 975 |  |  | 235 |  |  | 285 |  |  |  |  |  |  |  |  |
Discrete Automation | 613 |  |  | 580 |  |  | 97 |  |  | 98 |  |  |  |  |  |  |  |  |
Safety & Productivity | 322 |  |  | 312 |  |  | 68 |  |  | 67 |  |  |  |  |  |  |  |  |
Intelligent Devices | 2,822 |  |  | 2,843 |  |  | 594 |  |  | 686 |  |  |  |  |  |  |  |  |
Control Systems & Software | 675 |  |  | 690 |  |  | 149 |  |  | 193 |  |  |  |  |  |  |  |  |
Test & Measurement | 382 |  |  | 359 |  |  | (78) |  |  | (13) |  |  |  |  |  |  |  |  |
AspenTech | 257 |  |  | 303 |  |  | (35) |  |  | 15 |  |  |  |  |  |  |  |  |
Software and Control | 1,314 |  |  | 1,352 |  |  | 36 |  |  | 195 |  |  |  |  |  |  |  |  |
Stock compensation |  |  |  |  | (74) |  |  | (68) |  |  |  |  |  |  |  |  |
Unallocated pension and postretirement costs |  |  |  |  | 31 |  |  | 27 |  |  |  |  |  |  |  |  |
Corporate and other |  |  |  |  | (399) |  |  | (57) |  |  |  |  |  |  |  |  |
Eliminations/Interest | (19) |  |  | (20) |  |  | (44) |  |  | (8) |  |  |  |  |  |  |  |  |
Interest income from related party |  |  |  |  | 31 |  |  | — |  |  |  |  |  |  |  |  |
Total | $ | 4,117 |  |  | 4,175 |  |  | 175 |  |  | 775 |  |  |  |  |  |  |  |  |
Stock compensation for the three months ended December 31, 2023 included $30 of integration-related stock compensation expense attributable to NI ($26 of which was reported as restructuring costs). Corporate and other for the three months ended December 31, 2024 included acquisition/divestiture fees and related costs of $22 compared to $130 in 2023, while 2023 also included acquisition-related inventory step-up amortization of $231. Depreciation and amortization (includes intellectual property, customer relationships and capitalized software) by business segment are summarized below:
| Three Months Ended December 31, |  |
|  | 2023 |  |  | 2024 |  |  |  |  |  |
Final Control |  | $ | 40 |  |  | 40 |  |  |  |  |  |
Measurement & Analytical |  | 40 |  |  | 31 |  |  |  |  |  |
Discrete Automation |  | 22 |  |  | 21 |  |  |  |  |  |
Safety & Productivity |  | 14 |  |  | 15 |  |  |  |  |  |
Intelligent Devices |  | 116 |  |  | 107 |  |  |  |  |  |
Control Systems & Software |  | 21 |  |  | 23 |  |  |  |  |  |
Test & Measurement |  | 151 |  |  | 118 |  |  |  |  |  |
AspenTech |  | 123 |  |  | 124 |  |  |  |  |  |
Software and Control |  | 295 |  |  | 265 |  |  |  |  |  |
Corporate and other |  | 11 |  |  | 11 |  |  |  |  |  |
Total |  | $ | 422 |  |  | 383 |  |  |  |  |  |
The decrease in Test & Measurement depreciation and amortization for the three months ended December 31, 2024 compared to the three months ended December 31, 2023 was due to backlog amortization of $34 in the prior year. 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,
| 2023 |  | 2024
|  | Americas |  | AMEA |  | Europe |  | Total |  | Americas |  | AMEA |  | Europe |  | Total
Final Control |  | $ | 454 |  |  | 370 |  |  | 116 |  |  | 940 |  |  | 476 |  |  | 389 |  |  | 111 |  |  | 976 |
Measurement & Analytical |  | 475 |  |  | 325 |  |  | 147 |  |  | 947 |  |  | 488 |  |  | 338 |  |  | 149 |  |  | 975 |
Discrete Automation |  | 286 |  |  | 162 |  |  | 165 |  |  | 613 |  |  | 279 |  |  | 150 |  |  | 151 |  |  | 580 |
Safety & Productivity |  | 243 |  |  | 16 |  |  | 63 |  |  | 322 |  |  | 240 |  |  | 15 |  |  | 57 |  |  | 312 |
Intelligent Devices |  | 1,458 |  |  | 873 |  |  | 491 |  |  | 2,822 |  |  | 1,483 |  |  | 892 |  |  | 468 |  |  | 2,843 |
Control Systems & Software |  | 325 |  |  | 209 |  |  | 141 |  |  | 675 |  |  | 323 |  |  | 222 |  |  | 145 |  |  | 690 |
Test & Measurement |  | 164 |  |  | 99 |  |  | 119 |  |  | 382 |  |  | 175 |  |  | 93 |  |  | 91 |  |  | 359 |
AspenTech |  | 140 |  |  | 60 |  |  | 57 |  |  | 257 |  |  | 163 |  |  | 68 |  |  | 72 |  |  | 303 |
Software and Control |  | 629 |  |  | 368 |  |  | 317 |  |  | 1,314 |  |  | 661 |  |  | 383 |  |  | 308 |  |  | 1,352 |
Total |  | $ | 2,087 |  |  | 1,241 |  |  | 808 |  |  | 4,136 |  |  | 2,144 |  |  | 1,275 |  |  | 776 |  |  | 4,195 |

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