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Business Segment Information
 12 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
Business Segment Information Business Segment Information
We determine our operating segments based on the information used by our chief operating decision maker, our Chief Executive Officer, to allocate resources and assess performance. We organize our business into three operating segments: Intelligent Devices, Software & Control, and Lifecycle Services. This structure emphasizes our essential offerings, leverages our sharpened industry focus, and recognizes the growing importance of software in delivering value to our customers. The composition of our segments is as follows:
Intelligent Devices
The Intelligent Devices operating segment combines a comprehensive portfolio of smart products that create the foundation of an agile, resilient, and sustainable production system. This comprehensive portfolio includes:
•Power Control - Low and medium voltage variable frequency drives as well as low and medium voltage motor control;
•Motion Control - Servo drives, rotary servo motors, linear actuators, autonomous mobile robots, and independent cart technologies offering a comprehensive portfolio of servo control and production logistics technologies;
•Safety, Sensing, & Industrial Components - Safety devices, sensing devices, motor control and circuit protection devices, operator devices, signaling devices, relays, and electrical control accessories; and
•Micro Control & Distributed I/O - Micro programmable logic controllers and distributed input/output platforms.
Software & Control
The Software & Control operating segment contains a comprehensive portfolio of production automation and production operations platforms, including hardware and software. This integrated portfolio is merging information technology (IT) and operational technology (OT), bringing the benefits of the Connected Enterprise® to the production system.
Our production automation portfolio is multi-discipline and scalable with the ability to handle applications in discrete, batch/hybrid and continuous process, drives control, motion and robotics control, and machine and process safety. Our products include programmable automation controllers, design, visualization and simulation software, human machine interface products, industrial computers, machine and process safety products, industrial networks, and security products.
Our production operations portfolio helps industrial clients to plan, execute, manage, and optimize their production leveraging industrial data and software. Our software products include manufacturing execution systems, performance, quality, supply chain management, data management, edge, analytics, and machine learning software that enables customers to improve operational productivity and meet regulatory requirements. These solutions enable enterprise visibility, reduction of unplanned downtime, and optimization of processes.
Lifecycle Services
The Lifecycle Services operating segment contains a complete portfolio of professionally delivered services and annually recurring managed support contracts. This comprehensive portfolio combines technology and domain expertise to help maximize customers’ investment and provide total lifecycle support as they innovate, design, operate, and sustain their business investments. This includes:
•consulting services including cybersecurity and digital transformation strategy and design;
•professional services including global automation and information program and project management and delivery capabilities;
•connected services including operational technology/plant network, cloud, predictive/prescriptive analytics, remote support, and managed services;
•field services including asset management, on-site support, and safety;
•workforce services including instructor-led and virtual training, learning, and enablement;
•industrial automation and information solutions and custom-engineered systems that incorporate our own and third-party hardware and software products; and
•Sensia Joint Venture, which exclusively serves the oil, gas, and petrochemical industry through a combination of connected products and digital automation services and solutions.
Sales and operating results of our reportable segments were (in millions):
202420232022
Sales   
Intelligent Devices$3,804.1 $4,098.2 $3,544.6 
Software & Control 2,187.4 2,886.0 2,312.9 
Lifecycle Services2,272.7 2,073.8 1,902.9 
Total$8,264.2 $9,058.0 $7,760.4 
Segment operating earnings 
Intelligent Devices$700.0 $828.2 $717.6 
Software & Control529.7 953.2 666.7 
Lifecycle Services365.6 148.4 158.3 
Total1,595.3 1,929.8 1,542.6 
Purchase accounting depreciation and amortization, and impairment (143.9)(264.4)(103.9)
Corporate and other(135.8)(127.9)(104.7)
Non-operating pension and postretirement benefit credit (cost)19.8 (82.7)(4.7)
Change in fair value of investments0.1 279.3 (136.9)
Restructuring charges(97.4)— — 
Interest expense, net(139.0)(125.6)(118.8)
Income before income taxes$1,099.1 $1,608.5 $1,073.6 
Among other considerations, we evaluate performance and allocate resources based upon segment operating earnings before purchase accounting depreciation and amortization, impairment, corporate and other, non-operating pension and postretirement benefit cost, change in fair value of investments, restructuring charges aligned with enterprise-wide strategic initiatives, 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.
The following tables summarize the identifiable assets at September 30, 2024, 2023, and 2022, and the provision for depreciation and amortization and the amount of capital expenditures for property for the years then ended, for each of the reportable segments and Corporate (in millions):
202420232022
Identifiable assets   
Intelligent Devices$2,798.1 $2,676.2 $2,070.0 
Software & Control4,293.0 4,240.7 3,887.6 
Lifecycle Services2,036.3 1,835.8 1,968.4 
Corporate2,104.7 2,551.3 2,832.7 
Total$11,232.1 $11,304.0 $10,758.7 
Depreciation and amortization   
Intelligent Devices$57.7 $49.7 $45.8 
Software & Control68.4 55.8 47.0 
Lifecycle Services43.2 35.5 40.5 
Corporate4.2 2.5 1.7 
Total173.5 143.5 135.0 
Purchase accounting depreciation and amortization143.9 106.9 103.9 
Total$317.4 $250.4 $238.9 
Capital expenditures for property   
Intelligent Devices$74.9 $60.7 $45.6 
Software & Control67.5 40.2 29.7 
Lifecycle Services52.7 23.7 32.9 
Corporate29.6 35.9 32.9 
Total$224.7 $160.5 $141.1 
Identifiable assets at Corporate consist principally of cash, net deferred income tax assets, prepaid pension, and property. Property shared by the segments and used in operating activities is also reported in Corporate identifiable assets and Corporate capital expenditures. Corporate identifiable assets include shared net property balances of $261.4 million, $240.9 million, and $205.8 million at September 30, 2024, 2023, and 2022, respectively, for which depreciation expense has been allocated to segment operating earnings based on the expected benefit to be realized by each segment. Corporate capital expenditures in 2024, 2023, and 2022, primarily consist of property that will be shared by our operating segments.
We conduct a significant portion of our business activities outside the United States. The following tables present sales and property by geographic region (in millions):
 SalesProperty
 202420232022202420232022
North America$5,052.8 $5,224.0 $4,722.0 $526.4 $478.8 $430.7 
Europe, Middle East and Africa1,504.5 1,870.6 1,437.6 141.6 116.4 78.9 
Asia Pacific1,072.8 1,358.0 1,088.0 91.3 66.2 58.6 
Latin America634.1 605.4 512.8 17.4 22.8 18.3 
Total$8,264.2 $9,058.0 $7,760.4 $776.7 $684.2 $586.5 
We attribute sales to the geographic regions based on the country of destination. Sales in North America include $4,611.9 million, $4,773.2 million, and $4,315.5 million related to the U.S. in 2024, 2023, and 2022, respectively.
In most countries, we sell primarily through independent distributors in conjunction with our direct sales force. We sell large systems and service offerings principally through our direct sales force, though opportunities are sometimes identified through distributors. Sales to our two largest distributors in 2024, 2023, and 2022, which are attributable to all three segments, were approximately 20 percent of our total sales.