Business Segments

6 Months Ended

Mar. 31, 2023

Segment Reporting [Abstract]

Business Segments

BUSINESS SEGMENTS

As disclosed in Note 5, the financial results of Climate Technologies, InSinkErator and Therm-O-Disc are reported as discontinued operations for all periods presented. As a result of these portfolio actions, the Company has realigned its business segments and now reports six segments and two business groups, which are highlighted in the table below. The Company also reclassified certain product sales that were previously reported in Control Systems & Software to Discrete Automation.

INTELLIGENT DEVICES	SOFTWARE AND CONTROL
•Final Control	•Control Systems & Software
•Measurement & Analytical	•AspenTech
•Discrete Automation
•Safety & Productivity

The new segments were previously described as follows: Final Control was the Valves, Actuators & Regulators product offering; Measurement & Analytical was the Measurement & Analytical instrumentation product offering; Discrete Automation was the Industrial Solutions product offering; Safety & Productivity was the Tools & Home Products segment, excluding the divested InSinkErator business; Control Systems & Software was the Systems & Software product offering; and, AspenTech remains unchanged. The AspenTech segment was identified in the third quarter of fiscal 2022 as a result of the Heritage AspenTech acquisition and reflects the combined results of Heritage AspenTech and the Emerson Industrial Software Business (see Note 4 for further details). The results for this new segment include the historical results of the Emerson Industrial Software Business (which were previously reported in the Control Systems & Software segment), while results related to the Heritage AspenTech business only include periods subsequent to the close of the transaction. Prior year amounts have been reclassified to conform to the current year presentation.

	Three Months Ended March 31,					Six Months Ended March 31,
	Sales			Earnings		Sales		Earnings
	2022		2023	2022	2023	2022	2023	2022	2023
Final Control	$	884	992	152	215	1,701	1,854	274	373
Measurement & Analytical	769		888	176	229	1,506	1,637	346	404
Discrete Automation	644		683	130	133	1,261	1,301	250	254
Safety & Productivity	355		361	65	83	706	671	130	146
Intelligent Devices	2,652		2,924	523	660	5,174	5,463	1,000	1,177
Control Systems & Software	573		623	101	127	1,143	1,229	217	234
AspenTech	84		230	(4)	(54)	166	473	(6)	(87)
Software and Control	657		853	97	73	1,309	1,702	211	147
Stock compensation				(43)	(40)			(77)	(142)
Unallocated pension and postretirement costs				25	46			51	91
Corporate and other				(42)	(47)			(97)	(111)
Gain on subordinated interest				—	—			453	—
Eliminations/Interest	(18)		(21)	(51)	(53)	(36)	(36)	(90)	(101)
Total	$	3,291	3,756	509	639	6,447	7,129	1,451	1,061

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,
		2022		2023		2022	2023
Final Control		$	50	45		103	90
Measurement & Analytical		30		28		61	58
Discrete Automation		22		22		45	43
Safety & Productivity		14		15		29	29
Intelligent Devices		116		110		238	220
Control Systems & Software		22		24		47	45
AspenTech		24		123		47	246
Software and Control		46		147		94	291
Corporate and other		9		6		17	12
Total		$	171	263		349	523

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,
	2022						2023
		Americas		AMEA	Europe	Total	Americas	AMEA	Europe	Total
Final Control		$	412	337	135	884	494	362	136	992
Measurement & Analytical		361		295	113	769	455	304	129	888
Discrete Automation		296		171	177	644	311	184	188	683
Safety & Productivity		260		17	78	355	272	16	73	361
Intelligent Devices		1,329		820	503	2,652	1,532	866	526	2,924
Control Systems & Software		282		175	116	573	314	186	123	623
AspenTech		48		19	17	84	114	61	55	230
Software and Control		330		194	133	657	428	247	178	853
Total		$	1,659	1,014	636	3,309	1,960	1,113	704	3,777
	Six Months Ended March 31,						Six Months Ended March 31,
	2022						2023
		Americas		AMEA	Europe	Total	Americas	AMEA	Europe	Total
Final Control		$	764	673	264	1,701	940	670	244	1,854
Measurement & Analytical		672		591	243	1,506	851	550	236	1,637
Discrete Automation		570		354	337	1,261	602	359	340	1,301
Safety & Productivity		530		33	143	706	508	33	130	671
Intelligent Devices		2,536		1,651	987	5,174	2,901	1,612	950	5,463
Control Systems & Software		550		348	245	1,143	608	371	250	1,229
AspenTech		102		35	29	166	226	124	123	473
Software and Control		652		383	274	1,309	834	495	373	1,702
Total		$	3,188	2,034	1,261	6,483	3,735	2,107	1,323	7,165