Missouri --------------------------------- (State or Other Jurisdiction of Incorporation) | 1-278 ------------------- (Commission File Number) | 43-0259330 --------------------------- (I.R.S. Employer Identification Number) |
8000 West Florissant Avenue St. Louis, Missouri ------------------------------------------------ (Address of Principal Executive Offices) | 63136 ------------------ (Zip Code) |
Exhibit No. | Description | |
99.1 | Supplemental unaudited historical information for the years ended September 30, 2016, 2015 and 2014, and the quarterly periods within those years, reflecting the new business segments. |
EMERSON ELECTRIC CO. (Registrant) | |||
Date: | December 19, 2016 | By: | /s/ John G. Shively |
John G. Shively Vice President and Assistant Secretary |
Exhibit No. | Description of Exhibits | |
99.1 | Supplemental unaudited historical information for the years ended September 30, 2016, 2015 and 2014, and the quarterly periods within those years, reflecting the new business segments. |
Years ended September 30 | |||||||||
2014 | 2015 | 2016 | |||||||
Net sales | $ | 17,733 | 16,249 | 14,522 | |||||
Costs and expenses: | |||||||||
Cost of sales | 9,971 | 9,241 | 8,260 | ||||||
Selling, general and administrative expenses | 4,164 | 3,735 | 3,464 | ||||||
Gains on divestitures of businesses | — | 1,039 | — | ||||||
Other deductions, net | 211 | 330 | 294 | ||||||
Interest expense, net | 196 | 175 | 188 | ||||||
Earnings from continuing operations before income taxes | 3,191 | 3,807 | 2,316 | ||||||
Income taxes | 953 | 1,267 | 697 | ||||||
Earnings from continuing operations | 2,238 | 2,540 | 1,619 | ||||||
Discontinued operations, net of tax | (54 | ) | 193 | 45 | |||||
Net earnings | 2,184 | 2,733 | 1,664 | ||||||
Less: Noncontrolling interests in earnings of subsidiaries | 37 | 23 | 29 | ||||||
Net earnings common stockholders | $ | 2,147 | 2,710 | 1,635 | |||||
Earnings common stockholders: | |||||||||
Earnings from continuing operations | $ | 2,201 | 2,517 | 1,590 | |||||
Discontinued operations, net of tax | (54 | ) | 193 | 45 | |||||
Net earnings common stockholders | $ | 2,147 | 2,710 | 1,635 | |||||
Diluted earnings per share common stockholders: | |||||||||
Earnings from continuing operations | $ | 3.11 | 3.71 | 2.45 | |||||
Discontinued operations | (0.08 | ) | 0.28 | 0.07 | |||||
Diluted earnings per common share | $ | 3.03 | 3.99 | 2.52 |
Years ended September 30 | |||||||||
Sales | 2014 | 2015 | 2016 | ||||||
Automation Solutions | $ | 10,937 | 10,153 | 8,977 | |||||
Climate Technologies | 4,104 | 4,006 | 3,944 | ||||||
Tools & Home Products | 1,607 | 1,625 | 1,611 | ||||||
Commercial & Residential Solutions | 5,711 | 5,631 | 5,555 | ||||||
Divested businesses (a) | 1,099 | 477 | — | ||||||
Sales eliminations | (14 | ) | (12 | ) | (10 | ) | |||
Total | $ | 17,733 | 16,249 | 14,522 |
Earnings | 2014 | 2015 | 2016 | ||||||
Automation Solutions | $ | 2,334 | 1,846 | 1,456 | |||||
Climate Technologies | 874 | 835 | 902 | ||||||
Tools & Home Products | 385 | 364 | 384 | ||||||
Commercial & Residential Solutions | 1,259 | 1,199 | 1,286 | ||||||
Divested businesses (a) | 117 | 58 | — | ||||||
Differences in accounting methods | 197 | 174 | 189 | ||||||
Corporate and other (b) | (520 | ) | 705 | (427 | ) | ||||
Interest | (196 | ) | (175 | ) | (188 | ) | |||
Pretax earnings | $ | 3,191 | 3,807 | 2,316 | |||||
(a) Divested businesses include sales and earnings related to the power transmission solutions and commercial storage businesses, which were reported in the former Industrial Automation and Commercial & Residential Solutions segments, respectively, and the embedded computing and power and connectivity solutions businesses, which were reported in the former Network Power segment. | |||||||||
(b) Corporate and other in 2015 includes pretax gains on divestitures of $1,039 ($611 after-tax, $0.90 per share). |
Fiscal Year 2016 | ||||||||||||
1st Quarter | 2nd Quarter | 3rd Quarter | 4th Quarter | |||||||||
Net sales | $ | 3,337 | 3,579 | 3,674 | 3,932 | |||||||
Costs and expenses: | ||||||||||||
Cost of sales | 1,923 | 2,037 | 2,081 | 2,219 | ||||||||
Selling, general and administrative expenses | 879 | 878 | 852 | 855 | ||||||||
Other deductions, net | 54 | 66 | 39 | 135 | ||||||||
Interest expense, net | 47 | 46 | 46 | 49 | ||||||||
Earnings from continuing operations before income taxes | 434 | 552 | 656 | 674 | ||||||||
Income taxes | 127 | 177 | 205 | 188 | ||||||||
Earnings from continuing operations | 307 | 375 | 451 | 486 | ||||||||
Discontinued operations, net of tax | 46 | 2 | 38 | (41 | ) | |||||||
Net earnings | 353 | 377 | 489 | 445 | ||||||||
Less: Noncontrolling interests in earnings of subsidiaries | 4 | 8 | 10 | 7 | ||||||||
Net earnings common stockholders | $ | 349 | 369 | 479 | 438 | |||||||
Earnings common stockholders: | ||||||||||||
Earnings from continuing operations | $ | 303 | 367 | 441 | 479 | |||||||
Discontinued operations, net of tax | 46 | 2 | 38 | (41 | ) | |||||||
Net earnings common stockholders | $ | 349 | 369 | 479 | 438 | |||||||
Diluted earnings per share common stockholders: | ||||||||||||
Earnings from continuing operations | $ | 0.46 | 0.57 | 0.68 | 0.74 | |||||||
Discontinued operations | 0.07 | — | 0.06 | (0.06 | ) | |||||||
Diluted earnings per common share | $ | 0.53 | 0.57 | 0.74 | 0.68 |
Sales | 1st Quarter | 2nd Quarter | 3rd Quarter | 4th Quarter | ||||||||
Automation Solutions | $ | 2,162 | 2,194 | 2,176 | 2,445 | |||||||
Climate Technologies | 786 | 993 | 1,101 | 1,064 | ||||||||
Tools & Home Products | 392 | 394 | 400 | 425 | ||||||||
Commercial & Residential Solutions | 1,178 | 1,387 | 1,501 | 1,489 | ||||||||
Sales eliminations | (3 | ) | (2 | ) | (3 | ) | (2 | ) | ||||
Total | $ | 3,337 | 3,579 | 3,674 | 3,932 |
Earnings | 1st Quarter | 2nd Quarter | 3rd Quarter | 4th Quarter | ||||||||
Automation Solutions | $ | 341 | 342 | 354 | 419 | |||||||
Climate Technologies | 133 | 226 | 287 | 256 | ||||||||
Tools & Home Products | 85 | 92 | 97 | 110 | ||||||||
Commercial & Residential Solutions | 218 | 318 | 384 | 366 | ||||||||
Differences in accounting methods | 44 | 47 | 47 | 51 | ||||||||
Corporate and other | (122 | ) | (109 | ) | (83 | ) | (113 | ) | ||||
Interest | (47 | ) | (46 | ) | (46 | ) | (49 | ) | ||||
Pretax earnings | $ | 434 | 552 | 656 | 674 |
Fiscal Year 2015 | ||||||||||||
1st Quarter | 2nd Quarter | 3rd Quarter | 4th Quarter | |||||||||
Net sales | $ | 4,026 | 3,934 | 4,085 | 4,204 | |||||||
Costs and expenses: | ||||||||||||
Cost of sales | 2,286 | 2,248 | 2,326 | 2,381 | ||||||||
Selling, general and administrative expenses | 1,019 | 948 | 922 | 846 | ||||||||
Gains on divestitures of businesses | — | 932 | — | 107 | ||||||||
Other deductions, net | 29 | 81 | 67 | 153 | ||||||||
Interest expense, net | 46 | 42 | 43 | 44 | ||||||||
Earnings from continuing operations before income taxes | 646 | 1,547 | 727 | 887 | ||||||||
Income taxes | 191 | 603 | 216 | 257 | ||||||||
Earnings from continuing operations | 455 | 944 | 511 | 630 | ||||||||
Discontinued operations, net of tax | 73 | 37 | 62 | 21 | ||||||||
Net earnings | 528 | 981 | 573 | 651 | ||||||||
Less: Noncontrolling interests in earnings of subsidiaries | 3 | 8 | 9 | 3 | ||||||||
Net earnings common stockholders | $ | 525 | 973 | 564 | 648 | |||||||
Earnings common stockholders: | ||||||||||||
Earnings from continuing operations | $ | 452 | 936 | 502 | 627 | |||||||
Discontinued operations, net of tax | 73 | 37 | 62 | 21 | ||||||||
Net earnings common stockholders | $ | 525 | 973 | 564 | 648 | |||||||
Diluted earnings per share common stockholders: | ||||||||||||
Earnings from continuing operations | $ | 0.65 | 1.36 | 0.75 | 0.95 | |||||||
Discontinued operations | 0.10 | 0.06 | 0.09 | 0.03 | ||||||||
Diluted earnings per common share | $ | 0.75 | 1.42 | 0.84 | 0.98 |
Sales | 1st Quarter | 2nd Quarter | 3rd Quarter | 4th Quarter | ||||||||
Automation Solutions | $ | 2,517 | 2,447 | 2,487 | 2,702 | |||||||
Climate Technologies | 898 | 981 | 1,124 | 1,003 | ||||||||
Tools & Home Products | 405 | 391 | 405 | 424 | ||||||||
Commercial & Residential Solutions | 1,303 | 1,372 | 1,529 | 1,427 | ||||||||
Divested businesses | 209 | 118 | 72 | 78 | ||||||||
Sales eliminations | (3 | ) | (3 | ) | (3 | ) | (3 | ) | ||||
Total | $ | 4,026 | 3,934 | 4,085 | 4,204 |
Earnings | 1st Quarter | 2nd Quarter | 3rd Quarter | 4th Quarter | ||||||||
Automation Solutions | $ | 483 | 386 | 462 | 515 | |||||||
Climate Technologies | 153 | 205 | 266 | 211 | ||||||||
Tools & Home Products | 94 | 83 | 89 | 98 | ||||||||
Commercial & Residential Solutions | 247 | 288 | 355 | 309 | ||||||||
Divested businesses | 24 | 12 | 9 | 13 | ||||||||
Differences in accounting methods | 45 | 41 | 43 | 45 | ||||||||
Corporate and other | (107 | ) | 862 | (99 | ) | 49 | ||||||
Interest | (46 | ) | (42 | ) | (43 | ) | (44 | ) | ||||
Pretax earnings | $ | 646 | 1,547 | 727 | 887 |
Fiscal Year 2014 | ||||||||||||
1st Quarter | 2nd Quarter | 3rd Quarter | 4th Quarter | |||||||||
Net sales | $ | 3,984 | 4,200 | 4,603 | 4,946 | |||||||
Costs and expenses: | ||||||||||||
Cost of sales | 2,314 | 2,361 | 2,567 | 2,729 | ||||||||
Selling, general and administrative expenses | 1,063 | 1,014 | 1,027 | 1,060 | ||||||||
Other deductions, net | 48 | 91 | 49 | 23 | ||||||||
Interest expense, net | 55 | 46 | 48 | 47 | ||||||||
Earnings from continuing operations before income taxes | 504 | 688 | 912 | 1,087 | ||||||||
Income taxes | 124 | 224 | 287 | 318 | ||||||||
Earnings from continuing operations | 380 | 464 | 625 | 769 | ||||||||
Discontinued operations, net of tax | 97 | 90 | 113 | (354 | ) | |||||||
Net earnings | 477 | 554 | 738 | 415 | ||||||||
Less: Noncontrolling interests in earnings of subsidiaries | 15 | 7 | 10 | 5 | ||||||||
Net earnings common stockholders | $ | 462 | 547 | 728 | 410 | |||||||
Earnings common stockholders: | ||||||||||||
Earnings from continuing operations | $ | 365 | 457 | 615 | 764 | |||||||
Discontinued operations, net of tax | 97 | 90 | 113 | (354 | ) | |||||||
Net earnings common stockholders | $ | 462 | 547 | 728 | 410 | |||||||
Diluted earnings per share common stockholders: | ||||||||||||
Earnings from continuing operations | $ | 0.51 | 0.65 | 0.87 | 1.08 | |||||||
Discontinued operations | 0.14 | 0.12 | 0.16 | (0.50 | ) | |||||||
Diluted earnings per common share | $ | 0.65 | 0.77 | 1.03 | 0.58 |
Sales | 1st Quarter | 2nd Quarter | 3rd Quarter | 4th Quarter | ||||||||
Automation Solutions | $ | 2,452 | 2,532 | 2,758 | 3,195 | |||||||
Climate Technologies | 785 | 1,040 | 1,190 | 1,089 | ||||||||
Tools & Home Products | 389 | 387 | 411 | 420 | ||||||||
Commercial & Residential Solutions | 1,174 | 1,427 | 1,601 | 1,509 | ||||||||
Divested businesses | 361 | 244 | 247 | 247 | ||||||||
Sales eliminations | (3 | ) | (3 | ) | (3 | ) | (5 | ) | ||||
Total | $ | 3,984 | 4,200 | 4,603 | 4,946 |
Earnings | 1st Quarter | 2nd Quarter | 3rd Quarter | 4th Quarter | ||||||||
Automation Solutions | $ | 467 | 481 | 577 | 809 | |||||||
Climate Technologies | 126 | 222 | 294 | 232 | ||||||||
Tools & Home Products | 90 | 93 | 99 | 103 | ||||||||
Commercial & Residential Solutions | 216 | 315 | 393 | 335 | ||||||||
Divested businesses | 10 | 33 | 33 | 41 | ||||||||
Differences in accounting methods | 44 | 47 | 50 | 56 | ||||||||
Corporate and other | (178 | ) | (142 | ) | (93 | ) | (107 | ) | ||||
Interest | (55 | ) | (46 | ) | (48 | ) | (47 | ) | ||||
Pretax earnings | $ | 504 | 688 | 912 | 1,087 |