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Revenue recognition
 3 Months Ended
Sep. 30, 2025
Revenue from Contract with Customer [Abstract]  
Revenue recognition Revenue recognition
Revenue is derived primarily from the sale of products in the aerospace and defense, in-plant and industrial equipment, transportation, off-highway, energy and HVAC and refrigeration markets. A majority of the Company’s revenues are recognized at a point in time. However, a portion of the Company’s revenues are recognized over time.
Diversified Industrial Segment revenues by technology platform:
Three Months Ended
September 30,
20252024
Motion Systems$824 $849 
Flow and Process Control1,158 1,126 
Filtration and Engineered Materials1,461 1,481 
Total$3,443 $3,456 
Aerospace Systems Segment revenues by market segment:
Three Months Ended
September 30,
20252024
Commercial original equipment manufacturer ("OEM")$539 $434 
Commercial aftermarket594 521 
Defense OEM294 262 
Defense aftermarket214 231 
Total$1,641 $1,448 
Total Company revenues by geographic region based on the Company's selling operation's location:
Three Months Ended
September 30,
20252024
North America$3,450 $3,333 
Europe960 935 
Asia Pacific616 580 
Latin America58 56 
Total$5,084 $4,904 
The majority of revenues from the Aerospace Systems Segment are generated from sales within North America.
Contract balances
Contract assets and contract liabilities are reported on a contract-by-contract basis. Contract assets reflect revenue recognized and performance obligations satisfied in advance of customer billing. Contract liabilities relate to payments received in advance of the satisfaction of performance under the contract. Payments from customers are received based on the terms established in the contract with the customer.
Total contract assets and contract liabilities are as follows:
September 30,
2025		June 30,
2025
Contract assets, current (included within Other current assets)$168 $149 
Contract assets, noncurrent (included within Other long-term assets)16 16 
Total contract assets184 165 
Contract liabilities, current (included within Other current liabilities)(211)(211)
Contract liabilities, noncurrent (included within Other long-term liabilities)(67)(71)
Total contract liabilities(278)(282)
Net contract liabilities$(94)$(117)
Net contract liabilities at September 30, 2025 decreased from the June 30, 2025 amount primarily due to timing differences between when revenue was recognized and the receipt of advance payments. During the three months ended September 30, 2025, approximately $75 million of revenue was recognized that was included in the contract liabilities at June 30, 2025.
Remaining performance obligations
Our backlog represents written firm orders from a customer to deliver products and, in the case of blanket purchase orders, only includes the portion of the order for which a schedule or release has been agreed to with the customer. We believe our backlog represents our unsatisfied or partially unsatisfied performance obligations. Backlog at September 30, 2025 was $11.3 billion, of which approximately 70 percent is expected to be recognized as revenue within the next 12 months and the balance thereafter.