Business Segment Information

3 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Business Segment Information

Business Segment Information

Sales and operating results of our reportable segments were (in millions):

	Three Months Ended December 31,
	2021		2020
Sales:
Intelligent Devices	$	900.3	$	721.7
Software & Control	513.9		441.0
Lifecycle Services	443.1		402.6
Total	$	1,857.3	$	1,565.3
Segment operating earnings:
Intelligent Devices	$	213.0	$	140.2
Software & Control	117.6		133.1
Lifecycle Services	24.5		36.0
Total	355.1		309.3
Purchase accounting depreciation and amortization	(26.1)		(11.7)
Corporate and other	(29.4)		(28.0)
Non-operating pension and postretirement benefit credit (cost)	4.4		(7.0)
Change in fair value of investments	7.6		390.4
Legal settlement	—		70.0
Interest expense, net	(29.1)		(22.3)
Income before income taxes	$	282.5	$	700.7

Among other considerations, we evaluate performance and allocate resources based upon segment operating earnings before purchase accounting depreciation and amortization, corporate and other, non-operating pension and postretirement benefit credit (cost), change in fair value of investments, the $70 million legal settlement in fiscal 2021, interest expense, net, and income tax provision. Depending on the product, intersegment sales within a single legal entity are either at cost or cost plus a mark-up, which does not necessarily represent a market price. Sales between legal entities are at an appropriate transfer price. We allocate costs related to shared segment operating activities to the segments consistent with the methodology used by management to assess segment performance.