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Revenue recognition
 9 Months Ended
Mar. 31, 2026
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 EndedNine Months Ended
March 31,March 31,
2026202520262025
Motion Systems$919 $828 $2,636 $2,481 
Flow and Process Control1,220 1,141 3,492 3,326 
Filtration and Engineered Materials1,533 1,420 4,455 4,291 
Total$3,672 $3,389 $10,583 $10,098 
Aerospace Systems Segment revenues by market segment:
Three Months EndedNine Months Ended
March 31,March 31,
2026202520262025
Commercial original equipment manufacturer ("OEM")$601 $493 $1,701 $1,374 
Commercial aftermarket647 568 1,860 1,620 
Defense OEM324 286 923 833 
Defense aftermarket242 224 677 682 
Total$1,814 $1,571 $5,161 $4,509 
Total Company revenues by geographic region based on the Company's selling operation's location:
Three Months EndedNine Months Ended
March 31,March 31,
2026202520262025
North America$3,687 $3,369 $10,559 $9,901 
Europe1,086 974 3,065 2,806 
Asia Pacific658 563 1,954 1,739 
Latin America55 54 166 161 
Total$5,486 $4,960 $15,744 $14,607 
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:
March 31,
2026		June 30,
2025
Contract assets, current (included within Other current assets)$191 $149 
Contract assets, noncurrent (included within Other long-term assets)17 16 
Total contract assets208 165 
Contract liabilities, current (included within Other current liabilities)(209)(211)
Contract liabilities, noncurrent (included within Other long-term liabilities)(92)(71)
Total contract liabilities(301)(282)
Net contract liabilities$(93)$(117)
Net contract liabilities at March 31, 2026 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 nine months ended March 31, 2026, approximately $158 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 March 31, 2026 was $12.5 billion, of which approximately 67 percent is expected to be recognized as revenue within the next 12 months and the balance thereafter.