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BUSINESS SEGMENTS INFORMATION
12 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
BUSINESS SEGMENTS INFORMATION BUSINESS SEGMENTS INFORMATION
As disclosed in Note 4, on March 12, 2025, Emerson completed its purchase of the remaining outstanding shares of common stock of AspenTech not already owned by the Company. As a result of the transaction, AspenTech is now a wholly owned subsidiary of the Company. AspenTech was reorganized upon completion of the transaction and now reports to Control Systems & Software leadership. AspenTech's results, which were previously reported as a separate segment, are now consolidated into the Control Systems & Software segment for all periods presented. Prior year amounts have been reclassified to conform to the current year presentation. In 2024, the Company completed the acquisition of NI on October 11, 2023. NI is now referred to as Test & Measurement and reported as a segment in the Software and Control business group.

INTELLIGENT DEVICESSOFTWARE AND CONTROL
Final Control
Control Systems & Software
Measurement & Analytical
Test & Measurement
Discrete Automation
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. This segment also includes the AspenTech business, which 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 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.
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. In the statements below, Other deductions is largely comprised of restructuring, intangibles amortization and foreign currency transaction (gains) losses. 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.
The chief operating decision maker ("CODM") is the Company's President and Chief Executive Officer. The CODM regularly reviews the financial information presented below, including against forecasted results, to assess each segment's operating performance and to make resource allocation decisions.
The following tables present the financial results for each segment.
2023
Final ControlMeasurement & AnalyticalDiscrete AutomationSafety & ProductivityIntelligent DevicesControl Systems & SoftwareTest & MeasurementSoftware & Control
Net Sales$3,970 3,595 2,635 1,388 11,588 3,648 — 3,648 
Cost of sales2,177 1,648 1,387 795 6,007 1,818 — 1,818 
Selling, general and administrative expenses829 972 680 269 2,750 1,058 — 1,058 
Other deductions, net99 39 59 18 215 350 — 350 
Earnings (Loss)$865 936 509 306 2,616 422 — 422 
2024
Final ControlMeasurement & AnalyticalDiscrete AutomationSafety & ProductivityIntelligent DevicesControl Systems & SoftwareTest & MeasurementSoftware & Control
Net Sales$4,204 4,061 2,506 1,390 12,161 3,935 1,464 5,399 
Cost of sales2,246 1,799 1,334 796 6,175 1,883 387 2,270 
Selling, general and administrative expenses862 1,097 640 265 2,864 1,118 723 1,841 
Other deductions, net119 109 66 21 315 362 644 1,006 
Earnings (Loss)$977 1,056 466 308 2,807 572 (290)282 

2025
Final ControlMeasurement & AnalyticalDiscrete AutomationSafety & ProductivityIntelligent DevicesControl Systems & SoftwareTest & MeasurementSoftware & Control
Net Sales$4,380 4,143 2,521 1,356 12,400 4,205 1,486 5,691 
Cost of sales2,323 1,843 1,340 773 6,279 1,917 381 2,298 
Selling, general and administrative expenses869 1,101 645 264 2,879 1,073 734 1,807 
Other deductions, net107 87 67 28 289 320 439 759 
Earnings (Loss)$1,081 1,112 469 291 2,953 895 (68)827 
The following table reconciles the total segment results from the tables above to the Company's consolidated results.
SalesEarnings (Loss)
2023 2024 2025 2023 2024 2025 
Segment Totals$15,236 17,560 18,091 $3,038 3,089 3,780 
Corporate items:
Stock compensation(250)(260)(263)
Unallocated pension and postretirement costs171 144 109 
Corporate and other(224)(664)(455)
Loss on Copeland note receivable— (279) 
Gain on subordinated interest161 79  
Eliminations/Interest(71)(68)(75)(34)(175)(237)
Interest income from related party41 86  
     Total$15,165 17,492 18,016 $2,903 2,020 2,934 

In 2025, stock compensation included $35 of integration-related stock compensation expense attributable to AspenTech (of which $22 was reported as restructuring costs) and $12 attributable to NI (of which $3 was reported as restructuring costs). 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 for 2025, 2024 and 2023, respectively, includes acquisition/divestiture fees and related costs of $255 ($42 of which is reported in operating profit; amounts primarily relate to AspenTech), $205 ($109 of which is reported in operating profit), and $84 ($15 of which is reported in operating profit). 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. 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).
Total AssetsDepreciation
and Amortization
Capital
Expenditures
2023 2024 2025 2023 2024 2025 2023 2024 2025 
Final Control$5,614 5,706 5,889 $170 159 161 $93 93 102 
Measurement & Analytical3,976 4,122 4,253 121 138 140 93 84 107 
Discrete Automation2,493 2,470 2,569 84 87 87 56 61 61 
Safety & Productivity1,238 1,228 1,273 57 58 60 35 46 46 
Intelligent Devices13,321 13,526 13,984 432 442 448 277 284 316 
Control Systems & Software16,199 15,903 15,758 582 594 550 39 46 51 
Test & Measurement— 9,210 8,809 — 607 476 — 27 29 
Software and Control16,199 25,113 24,567 582 1,201 1,026 39 73 80 
Corporate and other (includes assets held-for-sale)13,226 5,607 3,413 37 46 44 47 62 35 
     Total$42,746 44,246 41,964 $1,051 1,689 1,518 $363 419 431 

Depreciation and amortization includes intellectual property, customer relationships and capitalized software.
Geographic Information

Sales by major geographic destination are summarized below:

20232024
AmericasAMEAEuropeTotalAmericasAMEAEuropeTotal
Final Control$1,949 1,481 540 3,970 $2,010 1,647 547 4,204 
Measurement & Analytical1,847 1,222 526 3,595 2,046 1,382 633 4,061 
Discrete Automation1,234 720 681 2,635 1,178 646 682 2,506 
Safety & Productivity1,049 70 269 1,388 1,048 73 269 1,390 
Intelligent Devices6,079 3,493 2,016 11,588 6,282 3,748 2,131 12,161 
Control Systems & Software1,729 1,104 815 3,648 1,862 1,181 892 3,935 
Test & Measurement— — — — 654 389 421 1,464 
Software and Control1,729 1,104 815 3,648 2,516 1,570 1,313 5,399 
Total$7,808 4,597 2,831 15,236 $8,798 5,318 3,444 17,560 

2025
AmericasAMEAEuropeTotal
Final Control$2,164 1,662 555 4,381 
Measurement & Analytical2,052 1,461 631 4,144 
Discrete Automation1,218 630 672 2,520 
Safety & Productivity1,042 67 246 1,355 
Intelligent Devices6,476 3,820 2,104 12,400 
Control Systems & Software2,042 1,238 925 4,205 
Test & Measurement696 391 399 1,486 
Software and Control2,738 1,629 1,324 5,691 
Total$9,214 5,449 3,428 18,091 

Sales in the U.S. were $7,481, $7,091 and $6,327 for 2025, 2024 and 2023, respectively, while Asia, Middle East & Africa includes sales in China of $1,829, $1,901 and $1,804 in those years.

Property, Plant and Equipment
2023 2024 2025 
Americas$1,442 1,672 1,717 
Asia, Middle East & Africa428 542 601 
Europe493 593 553 
Total$2,363 2,807 2,871 

Property, plant and equipment located in the U.S. was $1,498 in 2025, $1,474 in 2024 and $1,261 in 2023.