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BUSINESS SEGMENTS | 6 Months Ended
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Mar. 31, 2025
Segment Reporting [Abstract] |
BUSINESS SEGMENTS | BUSINESS SEGMENTS As disclosed in Note 4, on March 12, 2025, Emerson completed its purchase of the remaining outstanding shares of common stock of AspenTech not already owned by the Company. As a result of the transaction, AspenTech is now a wholly owned subsidiary of the Company. AspenTech was reorganized upon completion of the transaction and now reports to Control Systems & Software leadership. AspenTech's results, which were previously reported as a separate segment, are now consolidated into the Control Systems & Software segment for all periods presented. Prior year amounts have been reclassified to conform to the current year presentation. In 2024, 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 March 31, |  | Six Months Ended March 31,
| Sales |  | Earnings (Loss) |  | Sales |  | Earnings (Loss)
| 2024 |  |  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |  |  | 2025 |
Final Control | $ | 1,051 |  |  | 1,073 |  |  | 259 |  |  | 267 |  |  | $ | 1,991 |  |  | 2,049 |  |  | 453 |  |  | 503 |
Measurement & Analytical | 1,013 |  |  | 1,002 |  |  | 274 |  |  | 266 |  |  | 1,960 |  |  | 1,977 |  |  | 509 |  |  | 551 |
Discrete Automation | 632 |  |  | 615 |  |  | 116 |  |  | 117 |  |  | 1,245 |  |  | 1,195 |  |  | 213 |  |  | 215 |
Safety & Productivity | 365 |  |  | 339 |  |  | 83 |  |  | 75 |  |  | 687 |  |  | 651 |  |  | 151 |  |  | 143 |
Intelligent Devices | 3,061 |  |  | 3,029 |  |  | 732 |  |  | 725 |  |  | 5,883 |  |  | 5,872 |  |  | 1,326 |  |  | 1,412 |
Control Systems & Software | 965 |  |  | 1,062 |  |  | 143 |  |  | 239 |  |  | 1,897 |  |  | 2,055 |  |  | 257 |  |  | 446 |
Test & Measurement | 367 |  |  | 359 |  |  | (79) |  |  | (24) |  |  | 749 |  |  | 718 |  |  | (157) |  |  | (37) |
Software and Control | 1,332 |  |  | 1,421 |  |  | 64 |  |  | 215 |  |  | 2,646 |  |  | 2,773 |  |  | 100 |  |  | 409 |
Stock compensation |  |  |  |  | (73) |  |  | (59) |  |  |  |  |  |  | (147) |  |  | (127) |
Unallocated pension and postretirement costs |  |  |  |  | 38 |  |  | 27 |  |  |  |  |  |  | 69 |  |  | 55 |
Corporate and other |  |  |  |  | (103) |  |  | (238) |  |  |  |  |  |  | (502) |  |  | (295) |
Gain on subordinated interest |  |  |  |  | 79 |  |  | — |  |  |  |  |  |  | 79 |  |  | — |
Eliminations/Interest | (17) |  |  | (18) |  |  | (57) |  |  | (41) |  |  | (36) |  |  | (37) |  |  | (101) |  |  | (50) |
Interest income from related party |  |  |  |  | 31 |  |  | — |  |  |  |  |  |  | 62 |  |  | — |
Total | $ | 4,376 |  |  | 4,432 |  |  | 711 |  |  | 629 |  |  | $ | 8,493 |  |  | 8,608 |  |  | 886 |  |  | 1,404 |
Stock compensation for the three months and six months ended March 31, 2025 included $6 of integration-related stock compensation expense attributable to AspenTech (of which $1, was reported as restructuring costs). Additionally, the three months and six months ended March 31, 2025 included $3 and $5 of integration-related stock compensation expense attributable to NI. Stock compensation for the three months and six months ended March 31, 2024 included $14 and $44 of integration-related stock compensation expense attributable to NI (of which $10 and $36, respectively, was reported as restructuring costs). Corporate and other for the three and six months ended March 31, 2025 included acquisition/divestiture fees and related costs of $160 and $179, respectively. Corporate and other for the three and six months ended March 31, 2024 included acquisition/divestiture fees and related costs of $16 and $146, respectively, and a divestiture loss of $39, while year-to-date 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 March 31, |  | Six Months Ended March 31,
|  | 2024 |  |  | 2025 |  |  |  | 2024 |  |  | 2025 |
Final Control |  | $ | 39 |  |  | 41 |  |  |  | $ | 79 |  |  | 81 |
Measurement & Analytical |  | 33 |  |  | 31 |  |  |  | 73 |  |  | 62 |
Discrete Automation |  | 21 |  |  | 22 |  |  |  | 43 |  |  | 43 |
Safety & Productivity |  | 15 |  |  | 14 |  |  |  | 29 |  |  | 29 |
Intelligent Devices |  | 108 |  |  | 108 |  |  |  | 224 |  |  | 215 |
Control Systems & Software |  | 152 |  |  | 146 |  |  |  | 296 |  |  | 293 |
Test & Measurement |  | 153 |  |  | 119 |  |  |  | 304 |  |  | 237 |
Software and Control |  | 305 |  |  | 265 |  |  |  | 600 |  |  | 530 |
Corporate and other |  | 11 |  |  | 11 |  |  |  | 22 |  |  | 22 |
Total |  | $ | 424 |  |  | 384 |  |  |  | $ | 846 |  |  | 767 |
Test & Measurement depreciation and amortization for the three and six months ended March 31, 2024 included backlog amortization of $34 and $68, respectively. Sales by geographic destination, Americas, Asia, Middle East & Africa ("AMEA") and Europe, are summarized below:
| Three Months Ended March 31, |  | Three Months Ended March 31, |
| 2024 |  | 2025 |
|  | Americas |  | AMEA |  | Europe |  | Total |  | Americas |  | AMEA |  | Europe |  | Total |
Final Control |  | $ | 513 |  |  | 404 |  |  | 134 |  |  | 1,051 |  |  | 551 |  |  | 391 |  |  | 131 |  |  | 1,073 |  |
Measurement & Analytical |  | 512 |  |  | 334 |  |  | 167 |  |  | 1,013 |  |  | 494 |  |  | 355 |  |  | 153 |  |  | 1,002 |  |
Discrete Automation |  | 294 |  |  | 161 |  |  | 177 |  |  | 632 |  |  | 297 |  |  | 148 |  |  | 170 |  |  | 615 |  |
Safety & Productivity |  | 269 |  |  | 19 |  |  | 77 |  |  | 365 |  |  | 261 |  |  | 16 |  |  | 62 |  |  | 339 |  |
Intelligent Devices |  | 1,588 |  |  | 918 |  |  | 555 |  |  | 3,061 |  |  | 1,603 |  |  | 910 |  |  | 516 |  |  | 3,029 |  |
Control Systems & Software |  | 442 |  |  | 290 |  |  | 233 |  |  | 965 |  |  | 493 |  |  | 320 |  |  | 249 |  |  | 1,062 |  |
Test & Measurement |  | 162 |  |  | 98 |  |  | 107 |  |  | 367 |  |  | 156 |  |  | 101 |  |  | 102 |  |  | 359 |  |
Software and Control |  | 604 |  |  | 388 |  |  | 340 |  |  | 1,332 |  |  | 649 |  |  | 421 |  |  | 351 |  |  | 1,421 |  |
Total |  | $ | 2,192 |  |  | 1,306 |  |  | 895 |  |  | 4,393 |  |  | 2,252 |  |  | 1,331 |  |  | 867 |  |  | 4,450 |  |
| Six Months Ended March 31, |  | Six Months Ended March 31, |
| 2024 |  | 2025 |
|  | Americas |  | AMEA |  | Europe |  | Total |  | Americas |  | AMEA |  | Europe |  | Total |
Final Control |  | $ | 967 |  |  | 774 |  |  | 250 |  |  | 1,991 |  |  | 1,026 |  |  | 780 |  |  | 243 |  |  | 2,049 |  |
Measurement & Analytical |  | 987 |  |  | 659 |  |  | 314 |  |  | 1,960 |  |  | 982 |  |  | 693 |  |  | 302 |  |  | 1,977 |  |
Discrete Automation |  | 580 |  |  | 323 |  |  | 342 |  |  | 1,245 |  |  | 577 |  |  | 298 |  |  | 320 |  |  | 1,195 |  |
Safety & Productivity |  | 512 |  |  | 35 |  |  | 140 |  |  | 687 |  |  | 501 |  |  | 31 |  |  | 119 |  |  | 651 |  |
Intelligent Devices |  | 3,046 |  |  | 1,791 |  |  | 1,046 |  |  | 5,883 |  |  | 3,086 |  |  | 1,802 |  |  | 984 |  |  | 5,872 |  |
Control Systems & Software |  | 907 |  |  | 559 |  |  | 431 |  |  | 1,897 |  |  | 979 |  |  | 610 |  |  | 466 |  |  | 2,055 |  |
Test & Measurement |  | 326 |  |  | 197 |  |  | 226 |  |  | 749 |  |  | 331 |  |  | 194 |  |  | 193 |  |  | 718 |  |
Software and Control |  | 1,233 |  |  | 756 |  |  | 657 |  |  | 2,646 |  |  | 1,310 |  |  | 804 |  |  | 659 |  |  | 2,773 |  |
Total |  | $ | 4,279 |  |  | 2,547 |  |  | 1,703 |  |  | 8,529 |  |  | 4,396 |  |  | 2,606 |  |  | 1,643 |  |  | 8,645 |  |

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