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Business Segment Information
 3 Months Ended
Dec. 31, 2016
Segment Reporting [Abstract]  
Segment Reporting
Business Segments – 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 Automation Solutions segment provides measurement, control, diagnostic capabilities and integrated manufacturing solutions for automated industrial processes, and serves oil and gas, refining, chemical, power generation, pharmaceutical, food and beverage, automotive and other end markets. The segment's major product offerings are described below.
•
Measurement & Analytical Instrumentation products measure the physical properties of liquid or gases in a process stream and communicate this information to a process control system, 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 valves which respond to commands from a control system to continuously and precisely modulate the flow of process fluids, valve actuators and controllers, 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 power and control mechanisms, electrical distribution equipment, and materials joining and precision cleaning products which are used in a variety of manufacturing operations to provide integrated manufacturing solutions to customers.
•
Process Control Systems & Solutions includes digital plant architecture 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 tools and appliance solutions.
The Climate Technologies segment provides products and services for all areas of the climate control industry, including residential heating and cooling, commercial air conditioning, and commercial and industrial refrigeration. Products include compressors, temperature sensors and controls, thermostats, flow controls and remote monitoring technology 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, residential storage products and appliance solutions. Products include professional pipe-working tools, residential and commercial food waste disposers, wet-dry vacuums, and home shelving and closet organization systems.
Summarized information about the Company's results of operations by business segment follows (in millions):
 
Three Months Ended December 31,
 
Sales
 
Earnings
 
2015

 
2016

 
2015

 
2016

 
 
 
 
 
 
 
 
Automation Solutions
$
2,162

 
1,967

 
341

 
326

 
 
 
 
 
 
 
 
Climate Technologies
786

 
859

 
133

 
161

Tools & Home Products
392

 
393

 
85

 
88

Commercial & Residential Solutions
1,178

 
1,252

 
218

 
249

 
 
 
 
 
 
 
 
Differences in accounting methods
 
 
 
 
44

 
33

Corporate and other
 
 
 
 
(122
)
 
(98
)
Eliminations/Interest
(3
)
 
(3
)
 
(47
)
 
(46
)
     Total
$
3,337

 
3,216

 
434

 
464


The decrease in Corporate and other for the first quarter of 2017 is attributable to lower incentive stock compensation of $26 million which reflects the impact of changes in the Company's stock price.
Automation Solutions sales by major product offering are summarized below (in millions):
 
Three Months Ended December 31,
 
 
2015

 
 
2016

 
 
 
 
 
 
Measurement & Analytical Instrumentation
 
$
757

 
 
682

Valves, Actuators & Regulators
 
498

 
 
449

Industrial Solutions
 
385

 
 
367

Process Control Systems & Solutions
 
522

 
 
469

     Total
 
$
2,162

 
 
1,967