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Business Segment Information
 9 Months Ended
Jun. 30, 2018
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 enables process, hybrid and discrete manufacturers to maximize production, protect personnel and the environment, and optimize their energy efficiency and operating costs through a broad offering of integrated solutions and products, including measurement and analytical instrumentation, industrial valves and equipment, and process control systems. Significant end markets serviced include oil and gas, refining, chemicals and power generation, as well as pharmaceuticals, 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 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 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 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, residential and commercial food waste disposers, and wet-dry vacuums.
Summarized information about the Company's results of operations by business segment follows:
 
Three Months Ended June 30,
 
Nine Months Ended June 30,
 
Sales
 
Earnings
 
Sales
 
Earnings
 
2017

 
2018

 
2017

 
2018

 
2017

 
2018

 
2017

 
2018

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Automation Solutions
$
2,440

 
2,870

 
378

 
494

 
6,524

 
8,213

 
1,032

 
1,316

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Climate Technologies
1,187

 
1,236

 
305

 
294

 
3,104

 
3,286

 
715

 
712

Tools & Home Products
415

 
356

 
97

 
93

 
1,210

 
1,041

 
281

 
276

Commercial & Residential Solutions
1,602

 
1,592

 
402

 
387

 
4,314

 
4,327

 
996

 
988

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Differences in accounting methods
 
 
 
 
38

 
57

 
 
 
 
 
106

 
163

Corporate and other
 
 
 
 
(158
)
 
(131
)
 
 
 
 
 
(358
)
 
(425
)
Eliminations/Interest
(3
)
 
(6
)
 
(39
)
 
(39
)
 
(9
)
 
(20
)
 
(126
)
 
(113
)
     Total
$
4,039

 
4,456

 
621

 
768

 
10,829

 
12,520

 
1,650

 
1,929





For the third quarter of 2018, Corporate and other included higher incentive stock compensation expense of $14, while 2017 included first year acquisition accounting charges for valves & controls of $30 related to inventory and $7 for backlog amortization. Year-to-date results included higher incentive stock compensation of $65 and higher acquisition/divestiture-related costs of $16, partially offset by lower valves & controls first year acquisition accounting charges of $8 related to inventory and backlog amortization.
Automation Solutions sales by major product offering are summarized below:
 
Three Months Ended June 30,
 
 
Nine Months Ended June 30,
 
 
2017

 
 
2018

 
 
2017

 
 
2018

 
 
 
 
 
 
 
 
 
 
 
 
Measurement & Analytical Instrumentation
 
$
744

 
 
932

 
 
2,162

 
 
2,564

Valves, Actuators & Regulators
 
772

 
 
953

 
 
1,718

 
 
2,746

Industrial Solutions
 
430

 
 
465

 
 
1,216

 
 
1,368

Process Control Systems & Solutions
 
494

 
 
520

 
 
1,428

 
 
1,535

     Total
 
$
2,440

 
 
2,870

 
 
6,524

 
 
8,213