Acquisitions and Divestitures (Tables)

3 Months Ended

Jun. 30, 2022

Business Combinations [Abstract]

Purchase Consideration

The following table summarizes the components of the purchase consideration reflected in the acquisition accounting using AspenTech's shares outstanding and closing market price per share as of May 16, 2022 (in millions except share and per share data):

AspenTech shares outstanding	66,662,482
AspenTech share price	$	166.30
Purchase price	$	11,086
Value of stock-based compensation awards attributable to pre-combination service	102
Total purchase consideration	$	11,188

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The total purchase consideration for AspenTech was preliminarily allocated to assets and liabilities as follows. Valuations of acquired assets and liabilities are in-process and subject to refinement.

Cash and equivalents	$	274
Receivables	61
Other current assets	262
Property, plant equipment	4
Goodwill ($34 expected to be tax-deductible)	7,223
Other intangible assets	4,390
Other assets	511
Total assets	12,725
Short-term borrowings	27
Accounts payable	8
Accrued expenses	113
Long-term debt	253
Deferred taxes and other liabilities	1,136
Total purchase consideration	$	11,188

Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination

The estimated intangible assets attributable to the transaction are comprised of the following (in millions):

	Amount		Estimated Weighted Average Life (Years)
Developed technology	$	1,350	10
Customer relationships	2,300		15
Trade names	430		Indefinite-lived
Backlog	310		3
Total	$	4,390

Business Acquisition, Pro Forma Information

The following unaudited proforma consolidated condensed financial results of operations are presented as if the acquisition of AspenTech occurred on October 1, 2020. The pro forma information is presented for informational purposes only and is not indicative of the results of operations that would have been achieved had the acquisition occurred as of that time ($ in millions, except per share amounts).

	Three Months Ended June 30,				Nine Months Ended June 30,
		2021		2022		2021	2022
Net Sales		$	4,895	5,060		13,884	14,683
Net earnings common stockholders		$	614	964		1,480	2,517
Diluted earnings per share		$	1.02	1.62		2.46	4.21