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BUSINESS SEGMENTS INFORMATION
 12 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
BUSINESS SEGMENTS INFORMATION BUSINESS SEGMENTS INFORMATION
As a result of the Company's acquisition of NI, which is now referred to as Test & Measurement and reported as a new segment in the Software and Control business group (see Note 4), the Company now reports seven segments and two business groups, which are highlighted in the table below.
INTELLIGENT DEVICESSOFTWARE AND CONTROL
•Final Control
•Control Systems & Software
•Measurement & Analytical
•Test & Measurement
•Discrete Automation
•AspenTech
•Safety & Productivity
The Final Control segment is a leading global provider of control valves, isolation valves, shutoff valves, pressure relief valves, pressure safety valves, actuators, and regulators for process and hybrid industries. These solutions respond to commands from a control system to continuously and precisely control and regulate the flow of liquids or gases to achieve safe operation along with reliability, sustainability and optimized performance.

The Measurement & Analytical segment is a leading supplier of intelligent instrumentation measuring the physical properties of liquids or gases, such as pressure, temperature, level, flow, acoustics, corrosion, pH, conductivity, water quality, toxic gases, and flame. These devices transfer data and asset management information to control systems and automation software, allowing process and hybrid industry operators to make educated decisions regarding production, reliability, sustainability and safety.

The Discrete Automation segment includes solenoid valves, pneumatic valves, valve position indicators, pneumatic cylinders and actuators, air preparation equipment, pressure and temperature switches, electric linear motion solutions, programmable automation control systems and software, electrical distribution equipment, and materials joining solutions used primarily in discrete industries.

The Safety & Productivity segment delivers tools for professionals and homeowners that support infrastructure, promote safety and enhance productivity. Pipe-working tools include pipe wrenches and cutters, pipe threading and roll grooving equipment, battery hydraulic tools for press connections, drain cleaners and diagnostic systems, including sewer inspection cameras and locating equipment. Electrical tools include conduit benders and cable pulling equipment, battery hydraulic tools for cutting and crimping electrical cable, and hole-making equipment. Other professional tools include water jetters, wet-dry vacuums, commercial vacuums and hand tools.

The Control Systems & Software segment provides control systems and software that control plant processes by collecting and analyzing information from measurement devices in the plant. These technologies determine optimal settings with software based on a customer's specific algorithms and use that information to adjust valves, pumps, motors, drives and other control hardware for maximum product quality, process efficiency, sustainability and safety. These solutions include distributed control systems, safety instrumented systems, SCADA systems, application software, digital twins, asset performance management and cybersecurity. Control Systems & Software solutions are predominantly used by process and hybrid manufacturers.

The Test & Measurement segment provides software-connected automated test and measurement systems that enable enterprises to bring products to market faster and at a lower cost. The Test & Measurement business spans the full range of customer needs including modular instrumentation, data acquisition and control solutions, and general-purpose development software.

AspenTech is a global leader in asset optimization software that enables industrial manufacturers to design, operate and maintain their operations for maximum performance. AspenTech combines decades of modeling, simulation and optimization capabilities with industrial operations expertise and applies advanced analytics to improve the profitability and sustainability of production assets. The purpose-built software drives value for customers by improving operational efficiency and maximizing productivity, reducing unplanned downtime and safety risks, and minimizing energy consumption and emissions.
The principal distribution method for each segment is direct sales forces, although the Company also uses independent sales representatives and distributors. Due to its global presence, certain of the Company's international operations are subject to risks including the stability of governments and business conditions in foreign countries which could result in adverse changes in exchange rates, changes in regulations or disruption of operations.
The primary income measure used for assessing segment performance and making operating decisions is earnings before interest and income taxes. Certain expenses are reported at Corporate, including stock compensation expense and a portion of pension and postretirement benefit costs. Corporate and other includes unallocated corporate expenses, acquisition/divestiture costs, first year acquisition accounting charges (which include fair value adjustments related to inventory, backlog and deferred revenue) and other items. Corporate assets are primarily comprised of cash and cash equivalents, investments, certain fixed assets and assets held-for-sale. Summarized below is information about the Company's operations by business segment and by geography.

Business Segments
SalesEarnings (Loss)Total Assets
2022 2023 2024 2022 2023 2024 2022 2023 2024 
Final Control$3,607 3,970 4,204 $592 865 977 $4,805 5,614 5,706 
Measurement & Analytical3,215 3,595 4,061 785 936 1,056 4,395 3,976 4,122 
Discrete Automation2,612 2,635 2,506 542 509 466 2,284 2,493 2,470 
Safety & Productivity1,402 1,388 1,390 250 306 308 1,125 1,238 1,228 
Intelligent Devices10,836 11,588 12,161 2,169 2,616 2,807 12,609 13,321 13,526 
Control Systems & Software2,398 2,606 2,842 437 529 645 1,700 2,151 2,262 
Test & Measurement— — 1,464 — — (290)— — 9,210 
AspenTech656 1,042 1,093 12 (107)(73)14,484 14,048 13,641 
Software and Control3,054 3,648 5,399 449 422 282 16,184 16,199 25,113 
Corporate items:
Stock compensation(125)(250)(260)
Unallocated pension and postretirement costs99 171 144 
Corporate and other (includes assets held-for-sale)(419)(224)(664)6,879 13,226 5,607 
Loss on Copeland note receivable— — (279)
Gain on subordinated interest453 161 79 
Eliminations/Interest(86)(71)(68)(194)(34)(175)
Interest income from related party— 41 86 
     Total$13,804 15,165 17,492 $2,432 2,903 2,020 $35,672 42,746 44,246 

In 2024, stock compensation included $58 of integration-related stock compensation expense attributable to NI (of which $43 was reported as restructuring costs). Corporate and other includes acquisition/divestiture fees and related costs of $205 ($109 of which is reported in operating profit), $84 ($15 of which is reported in operating profit) and $91 for 2024, 2023 and 2022, respectively. Additionally, in 2024, Corporate and other includes acquisition-related inventory step-up amortization of $231 and divestiture losses totaling $48, while 2023 includes a loss of $47 related to the Company's exit of business operations in Russia compared to a loss of $181 in 2022. Corporate and other in 2023 also included a mark-to-market gain of $24 related to foreign currency forward contracts entered into by AspenTech and a mark-to-market gain of $56 related to the Company's equity investment in National Instruments Corporation (see Note 6).
Depreciation
and Amortization		Capital
Expenditures
2022 2023 2024 2022 2023 2024 
Final Control$212 170 159 $62 93 93 
Measurement & Analytical117 121 138 90 93 84 
Discrete Automation88 84 87 68 56 61 
Safety & Productivity57 57 58 27 35 46 
Intelligent Devices474 432 442 247 277 284 
Control Systems & Software93 90 101 27 33 39 
Test & Measurement— — 607 — — 27 
AspenTech242 492 493 4 6 7 
Software and Control335 582 1,201 31 39 73 
Corporate and other33 37 46 21 47 62 
     Total$842 1,051 1,689 $299 363 419 
Depreciation and amortization includes intellectual property, customer relationships and capitalized software.

Geographic Information

Sales by major geographic destination are summarized below:

20222023
AmericasAMEAEuropeTotalAmericasAMEAEuropeTotal
Final Control$1,706 1,373 528 3,607 $1,949 1,481 540 3,970 
Measurement & Analytical1,529 1,199 487 3,215 1,847 1,222 526 3,595 
Discrete Automation1,217 732 663 2,612 1,234 720 681 2,635 
Safety & Productivity1,057 71 274 1,402 1,049 70 269 1,388 
Intelligent Devices5,509 3,375 1,952 10,836 6,079 3,493 2,016 11,588 
Control Systems & Software1,170 745 483 2,398 1,259 818 529 2,606 
Test & Measurement— — — — — — — — 
AspenTech362 140 154 656 470 286 286 1,042 
Software and Control1,532 885 637 3,054 1,729 1,104 815 3,648 
Total$7,041 4,260 2,589 13,890 $7,808 4,597 2,831 15,236 

2024
AmericasAMEAEuropeTotal
Final Control$2,010 1,647 547 4,204 
Measurement & Analytical2,046 1,382 633 4,061 
Discrete Automation1,178 646 682 2,506 
Safety & Productivity1,048 73 269 1,390 
Intelligent Devices6,282 3,748 2,131 12,161 
Control Systems & Software1,322 920 600 2,842 
Test & Measurement654 389 421 1,464 
AspenTech540 261 292 1,093 
Software and Control2,516 1,570 1,313 5,399 
Total$8,798 5,318 3,444 17,560 
Sales in the U.S. were $7,091, $6,327 and $5,671 for 2024, 2023 and 2022, respectively, while Asia, Middle East & Africa includes sales in China of $1,901, $1,804 and $1,824 in those years.

Property, Plant and Equipment
2022 2023 2024 
Americas$1,373 1,442 1,672 
Asia, Middle East & Africa398 428 542 
Europe468 493 593 
Total$2,239 2,363 2,807 

Property, plant and equipment located in the U.S. was $1,474 in 2024, $1,261 in 2023 and $1,219 in 2022.