The Company designs and manufactures products and delivers services that bring technology and engineering together to provide innovative solutions for customers in a wide range of industrial, commercial and consumer markets around the world. The Company reports three segments: Automation Solutions; and Climate Technologies and Tools & Home Products, which together comprise the Commercial & Residential Solutions business.

The Automation Solutions segment enables process, hybrid and discrete manufacturers to maximize production, protect personnel and the environment, reduce project costs, and optimize their energy efficiency and operating costs through a broad offering of integrated solutions, software, services and products, including measurement and analytical instrumentation, industrial valves and equipment, and process control software and systems. Markets served include oil and gas, refining, chemicals, power generation, life sciences, food and beverage, automotive, pulp and paper, metals and mining, and municipal water supplies. The segment's major product offerings are described below.

•Measurement & Analytical Instrumentation products measure the physical properties of liquids or gases in a process stream and communicate this information to a process control system or other software applications, and analyze the chemical composition of process fluids and emissions to enhance quality and efficiency, as well as environmental compliance.

•Valves, Actuators & Regulators consists of control, isolation and pressure relief valves which respond to commands from a control system to continuously and precisely modulate the flow of process fluids, smart actuation and control technologies, pressure management products, and industrial and residential regulators that reduce the pressure of fluids moving from high-pressure supply lines into lower pressure systems.

•Industrial Solutions provides fluid control and pneumatic mechanisms, electrical distribution equipment, and materials joining and precision cleaning products which are used in a variety of manufacturing operations to provide integrated solutions to customers.

•Process Control Systems & Solutions provides a digital ecosystem that controls plant processes by communicating with and adjusting the "intelligent" plant devices described above to provide precision measurement, control, monitoring, asset optimization, and plant safety and reliability for plants that produce power, or process fluids or other items.

The Commercial & Residential Solutions business consists of the Climate Technologies and Tools & Home Products segments. This business provides products and solutions that promote energy efficiency, enhance household and commercial comfort, and protect food quality and sustainability through heating, air conditioning and refrigeration technology, as well as a broad range of mechanical, electrical, utility and do-it-yourself tools and appliance solutions.

The Climate Technologies segment provides products, services and solutions for all areas of the climate control industry, including residential heating and cooling, commercial air conditioning, commercial and industrial refrigeration, and cold chain management. Products include compressors, temperature sensors and controls, thermostats, flow controls, and stationary and mobile remote monitoring technologies and services that enable homeowners and businesses to better manage their heating, air conditioning and refrigeration systems for improved control and comfort, and lower energy costs.

The Tools & Home Products segment offers tools for professionals and homeowners and appliance solutions. Products include professional pipe-working tools, electrical and utility tools, residential and commercial food waste disposers, and wet-dry vacuums.

The principal distribution method for each segment is direct sales forces, although the Company also uses independent sales representatives and distributors. Due to its global presence, certain of the Company's international operations are subject to risks including the stability of governments and business conditions in foreign countries which could result in adverse changes in exchange rates, changes in regulations or disruption of operations.

The primary income measure used for assessing segment performance and making operating decisions is earnings before interest and income taxes. Certain expenses are reported at Corporate, including stock compensation expense and a portion of pension and postretirement benefit costs. Corporate and other includes unallocated corporate expenses, acquisition/divestiture costs, first year acquisition accounting charges (which include fair value adjustments related to inventory, backlog and deferred revenue) and other items. Corporate assets are primarily comprised of cash and equivalents, investments and certain fixed assets. Summarized below is information about the Company's operations by business segment and by geography.


	Sales				Earnings				Total Assets
	2018		2019	2020	2018		2019	2020	2018		2019	2020
Automation Solutions	$	11,441	12,202	11,155	$	1,886	1,947	1,523	$	13,720	13,996	14,250

Climate Technologies	4,454		4,313	3,980	972		883	801	2,936		2,885	3,065
Tools & Home Products	1,528		1,856	1,663	380		388	317	1,560		1,462	1,491
Commercial & Residential Solutions	5,982		6,169	5,643	1,352		1,271	1,118	4,496		4,347	4,556

Corporate items:
Stock compensation			—		(216)		(120)	(110)	—		—
Unallocated pension and postretirement costs					79		108	53
Corporate and other					(275)		(173)	(93)	2,174		2,154	4,076
Eliminations/Interest	(15)		1	(13)	(159)		(174)	(156)
Total	$	17,408	18,372	16,785	$	2,667	2,859	2,335	$	20,390	20,497	22,882


	2018		2019	2020

Measurement & Analytical Instrumentation	$	3,604	3,807	3,237
Valves, Actuators & Regulators	3,749		3,794	3,589
Industrial Solutions	1,967		2,232	2,012
Process Control Systems & Solutions	2,121		2,369	2,317
Total	$	11,441	12,202	11,155


	Depreciation and Amortization				Capital Expenditures
	2018		2019	2020	2018		2019	2020
Automation Solutions	$	488	535	557	$	295	297	308

Climate Technologies	171		176	184	209		222	158
Tools & Home Products	44		71	77	64		59	58
Commercial & Residential Solutions	215		247	261	273		281	216

Corporate and other	55		40	36	49		16	14
Total	$	758	822	854	$	617	594	538


	Automation Solutions				Commercial & Residential Solutions				Total
	2018		2019	2020	2018		2019	2020	2018		2019	2020
Americas	$	5,517	5,850	5,051	$	3,967	4,253	3,896	$	9,484	10,103	8,947
Asia, Middle East & Africa	3,657		3,891	3,801	1,384		1,192	1,053	5,041		5,083	4,854
Europe	2,267		2,461	2,303	631		724	694	2,898		3,185	2,997
Total	$	11,441	12,202	11,155	$	5,982	6,169	5,643	$	17,423	18,371	16,798

Sales in the U.S. were $7,420, $8,390 and $7,939 for 2020, 2019 and 2018, respectively, while Asia, Middle East & Africa includes sales in China of $1,845, $1,962 and $1,955 in those years.


	Property, Plant and Equipment
	2018		2019	2020
Americas	$	2,234	2,339	2,345
Asia, Middle East & Africa	652		671	679
Europe	676		632	664
Total	$	3,562	3,642	3,688