XML 33 R12.htm IDEA: XBRL DOCUMENT v3.25.3
Revenue Recognition
 12 Months Ended
Sep. 30, 2025
Revenue from Contract with Customer [Abstract]  
REVENUE RECOGNITION REVENUE RECOGNITION
Disaggregated Revenue

The following table presents the Company's revenues disaggregated by segment and by products and systems versus services revenue (in millions):
Year Ended September 30,
20252024
Products & SystemsServicesTotalProducts & SystemsServicesTotal
Americas
$11,187 $4,644 $15,831 $11,206 $4,400 $15,606 
EMEA
2,977 1,991 4,968 2,789 1,831 4,620 
APAC
1,960 837 2,797 1,972 754 2,726 
Total$16,124 $7,472 $23,596 $15,967 $6,985 $22,952 


Contract Balances

Contract assets represent the Company’s right to consideration for performance obligations that have been satisfied but not billed and consist of unbilled receivables and costs in excess of billings. Contract liabilities are customer payments received before performance obligations are satisfied. Contract balances are classified as assets or liabilities on a contract-by-contract basis at the end of each reporting period. 
The following table presents the location and amount of contract balances in the Company's consolidated statements of financial position (in millions):
September 30,
Location of contract balances20252024
Contract assets - currentAccounts receivable - net$2,178 $1,931 
Contract assets - noncurrentOther noncurrent assets9 11 
Contract liabilities - currentDeferred revenue2,470 2,160 
Contract liabilities - noncurrentOther noncurrent liabilities478 252 

The Company recognized revenue that was included in the beginning of period contract liability balance of approximately $1.8 billion and $1.7 billion for the years ended September 30, 2025 and 2024, respectively.

Performance Obligations

Performance obligations are satisfied as of a point in time or over time. The timing of satisfying the performance obligation is typically indicated by the terms of the contract. As of September 30, 2025, the aggregate amount of the transaction price allocated to remaining performance obligations was approximately $22.7 billion, of which approximately 63% is expected to be recognized as revenue over the next two years. The remaining performance obligations expected to be recognized in revenue beyond two years primarily relate to large, multi-purpose construction contracts, which include services to be performed over the building's lifetime, with average initial contract terms of 25 to 35 years. Future contract modifications could affect both the timing and the amount of the remaining performance obligations. The Company excludes the value of remaining performance obligations for service contracts with an original expected duration of one year or less and contracts that are cancellable without substantial penalty.

Costs to Obtain or Fulfill a Contract

The Company recognizes the incremental costs incurred to obtain or fulfill a contract with a customer as an asset when the costs are recoverable. These costs consist primarily of sales commissions and design costs that relate to a contract or an anticipated contract that the Company expects to recover. Costs to obtain or fulfill a contract are capitalized when incurred and amortized to expense over the period of contract performance.

The following table presents the location and amount of costs to obtain or fulfill a contract recorded in the Company's consolidated statements of financial position (in millions):
September 30,
20252024
Other current assets$327 $265 
Other noncurrent assets249 291 
Total$576 $556 

Amortization of costs to obtain or fulfill a contract was $373 million and $312 million during the years ended September 30, 2025 and 2024, respectively.