Rockwell Automation (ROK) 10-Q 27 Jul 18 2018 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	9 Months Ended
	Jun. 30, 2018shares
Document and Entity Information [Abstract]
Entity Registrant Name	ROCKWELL AUTOMATION INC.
Entity Central Index Key	1,024,478
Current Fiscal Year End Date	--09-30
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding	123,164,853

Condensed Consolidated Balance

Condensed Consolidated Balance Sheet (Unaudited) - USD ($) $ in Millions	Jun. 30, 2018	Sep. 30, 2017
Current assets:
Cash and cash equivalents	$ 940.1	$ 1,410.9
Short-term investments	548.6	1,124.6
Receivables	1,149.3	1,135.5
Inventories	570.3	558.7
Other current assets	167.5	191
Total current assets	3,375.8	4,420.7
Property, net of accumulated depreciation of $1,579.3 and $1,511.9, respectively	537.3	583.9
Goodwill	1,078.5	1,077.7
Other intangible assets, net	222.5	238
Deferred income taxes	296.7	443.6
Other assets	326.8	397.8
Total	5,837.6	7,161.7
Current liabilities:
Short-term debt	0.8	350.4
Current portion of long-term debt	0	250
Accounts payable	641.8	623.2
Compensation and benefits	259.8	272.6
Advance payments from customers and deferred revenue	261.6	240.6
Customer returns, rebates and incentives	195.6	188.8
Other current liabilities	394	220.2
Total current liabilities	1,753.6	2,145.8
Long-term debt	1,227.1	1,243.4
Retirement benefits	844.5	892.5
Other liabilities	568.2	216.4
Commitments and contingent liabilities (Note 11)
Shareowners’ equity:
Common stock ($1.00 par value, shares issued: 181.4)	181.4	181.4
Additional paid-in capital	1,669.7	1,638
Retained earnings	5,851.5	6,103.4
Accumulated other comprehensive loss	(1,140.5)	(1,179.2)
Common stock in treasury, at cost (shares held: 58.2 and 53.0, respectively)	(5,117.9)	(4,080)
Total shareowners’ equity	1,444.2	2,663.6
Total	$ 5,837.6	$ 7,161.7

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheet (Unaudited) (Parenthetical) - USD ($) shares in Millions, $ in Millions	Jun. 30, 2018	Sep. 30, 2017
Statement of Financial Position [Abstract]
Accumulated depreciation	$ 1,579.3	$ 1,511.9
Common stock, par value per share (in usd per share)	$ 1	$ 1
Common stock, shares issued (in shares)	181.4	181.4
Treasury stock, shares (in shares)	58.2	53

Condensed Consolidated Statemen

Condensed Consolidated Statement of Operations (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Sales
Products and solutions	$ 1,517.8	$ 1,429.6	$ 4,400.8	$ 4,144.2
Services	180.9	169.6	535.7	499.6
Total sales	1,698.7	1,599.2	4,936.5	4,643.8
Cost of sales
Products and solutions	(846)	(813.9)	(2,468)	(2,348.2)
Services	(111)	(107.6)	(328.9)	(319.1)
Total cost of sales	(957)	(921.5)	(2,796.9)	(2,667.3)
Gross profit	741.7	677.7	2,139.6	1,976.5
Selling, general and administrative expenses	(402.2)	(386.8)	(1,180.7)	(1,166)
Other (expense) income	(71.3)	4.2	(56)	10.1
Interest expense	(16.5)	(19.1)	(53.8)	(56.7)
Income before income taxes	251.7	276	849.1	763.9
Income tax provision	(53.1)	(59.1)	(659.5)	(142.8)
Net income	$ 198.6	$ 216.9	$ 189.6	$ 621.1
Earnings per share:
Basic (in usd per share)	$ 1.60	$ 1.69	$ 1.50	$ 4.83
Diluted (in usd per share)	1.58	1.67	1.48	4.77
Cash dividends per share (in usd per share)	$ 0.92	$ 1.52	$ 2.59	$ 3.04
Weighted average outstanding shares:
Basic (in shares)	124.4	128.4	126.5	128.5
Diluted (in shares)	125.8	129.9	128.1	130

Condensed Consolidated Stateme5

Condensed Consolidated Statement of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Statement of Comprehensive Income [Abstract]
Net income	$ 198.6	$ 216.9	$ 189.6	$ 621.1
Other comprehensive (loss) income, net of tax:
Pension and other postretirement benefit plan adjustments (net of tax expense of $7.2, $12.6, $22.0 and $37.8)	20.2	23.8	60.6	72.1
Currency translation adjustments	(95.7)	24.9	(35.3)	(0.5)
Net change in unrealized gains and losses on cash flow hedges (net of tax expense (benefit) of $6.0, ($1.0), $5.4 and $2.3)	16.4	(4.4)	15.9	3.6
Net change in unrealized gains and losses on available-for-sale investments (net of tax expense (benefit) of $0.1, ($0.0), ($0.5) and ($0.0))	0.1	0	(2.5)	(0.1)
Other comprehensive (loss) income	(59)	44.3	38.7	75.1
Comprehensive income	$ 139.6	$ 261.2	$ 228.3	$ 696.2

Condensed Consolidated Stateme6

Condensed Consolidated Statement of Comprehensive Income (Unaudited) (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Statement of Comprehensive Income [Abstract]
Pension and other postretirement benefit plan adjustments tax expense	$ 7.2	$ 12.6	$ 22	$ 37.8
Net change in unrealized gains and losses on cash flow hedges tax expense (benefit)	6	(1)	5.4	2.3
Net change in unrealized gains and losses on available-for-sale investments net of tax benefit	$ 0.1	$ 0	$ (0.5)	$ 0

Condensed Consolidated Stateme7

Condensed Consolidated Statement of Cash Flows (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Operating activities:
Net income	$ 189.6	$ 621.1
Adjustments to arrive at cash provided by operating activities:
Depreciation	103.5	100.7
Amortization of intangible assets	21.4	23.3
Change in fair value of investments	76.8	0
Share-based compensation expense	28.6	29.4
Retirement benefit expense	84.9	129.2
Pension contributions	(43.2)	(40.8)
Net loss (gain) on disposition of property	1.4	(0.1)
Changes in assets and liabilities, excluding effects of acquisitions and foreign currency adjustments:
Receivables	(37.7)	(39.7)
Inventories	(26.1)	(53)
Accounts payable	18.7	66.7
Advance payments from customers and deferred revenue	22.5	30.1
Compensation and benefits	(8.3)	105.7
Income taxes	495.2	(22.4)
Other assets and liabilities	9.9	(23.1)
Cash provided by operating activities	937.2	927.1
Investing activities:
Capital expenditures	(78.6)	(97.5)
Acquisition of businesses, net of cash acquired	(9.9)	(1.1)
Purchases of investments	(296.9)	(916.8)
Proceeds from maturities of investments	791.5	614.9
Proceeds from sale of investments	155.3	36
Proceeds from sale of property	0.5	0.8
Cash provided by (used for) investing activities	561.9	(363.7)
Financing activities:
Net repayment of short-term debt	(349.7)	(100.2)
Repayment of long-term debt	(250)	0
Cash dividends	(328.3)	(293.2)
Purchases of treasury stock	(1,082.2)	(304.6)
Proceeds from the exercise of stock options	67.9	160.3
Other financing activities	1.8	0
Cash used for financing activities	(1,940.5)	(537.7)
Effect of exchange rate changes on cash	(29.4)	(2.7)
(Decrease) increase in cash and cash equivalents	(470.8)	23
Cash and cash equivalents at beginning of period	1,410.9	1,526.4
Cash and cash equivalents at end of period	$ 940.1	$ 1,549.4

Basis of Presentation and Accou

Basis of Presentation and Accounting Policies	9 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
Basis of Presentation and Accounting Policies	Basis of Presentation and Accounting Policies In the opinion of management of Rockwell Automation, Inc. ("Rockwell Automation" or "the Company"), the unaudited Condensed Consolidated Financial Statements contain all adjustments necessary to present fairly the financial position, results of operations and cash flows for the periods presented and, except as otherwise indicated, such adjustments consist only of those of a normal, recurring nature. These statements should be read in conjunction with our Annual Report on Form 10-K for the fiscal year ended September 30, 2017 . The results of operations for the three and nine -month periods ended June 30, 2018 , are not necessarily indicative of the results for the full year. All date references to years and quarters herein refer to our fiscal year and fiscal quarter unless otherwise stated. Receivables Receivables are stated net of an allowance for doubtful accounts of $19.7 million at June 30, 2018 , and $24.9 million at September 30, 2017 . In addition, receivables are stated net of an allowance for certain customer returns, rebates and incentives of $7.8 million at June 30, 2018 , and $11.9 million at September 30, 2017 . Earnings Per Share The following table reconciles basic and diluted earnings per share (EPS) amounts (in millions, except per share amounts): Three Months Ended Nine Months Ended 2018 2017 2018 2017 Net income $ 198.6 $ 216.9 $ 189.6 $ 621.1 Less: Allocation to participating securities (0.1 ) (0.3 ) (0.2 ) (0.7 ) Net income available to common shareowners $ 198.5 $ 216.6 $ 189.4 $ 620.4 Basic weighted average outstanding shares 124.4 128.4 126.5 128.5 Effect of dilutive securities Stock options 1.2 1.2 1.4 1.2 Performance shares 0.2 0.3 0.2 0.3 Diluted weighted average outstanding shares 125.8 129.9 128.1 130.0 Earnings per share: Basic $ 1.60 $ 1.69 $ 1.50 $ 4.83 Diluted $ 1.58 $ 1.67 $ 1.48 $ 4.77 For each of the three and nine months ended June 30, 2018 , 0.9 million shares related to share-based compensation awards were excluded from the diluted EPS calculation because they were antidilutive. For the three and nine months ended June 30, 2017 , 0.6 million and 0.8 million shares, respectively, related to share-based compensation awards were excluded from the diluted EPS calculation because they were antidilutive. Non-Cash Investing and Financing Activities Capital expenditures of $13.4 million and $22.3 million were accrued within accounts payable and other current liabilities at June 30, 2018 and 2017 , respectively. At June 30, 2018 and 2017 , there were $22.6 million and $3.4 million , respectively, of outstanding common stock share repurchases recorded in accounts payable that did not settle until the next fiscal quarter. These non-cash investing and financing activities have been excluded from cash used for capital expenditures and treasury stock purchases in the Condensed Consolidated Statement of Cash Flows. Recent Accounting Pronouncements In March 2017, the FASB issued a new standard regarding the presentation of net periodic pension and postretirement benefit costs. This standard requires the service cost component to be reported in the income statement in the same line item as other compensation costs arising from services rendered by the related employees during the period. The other components of net periodic benefit cost are required to be presented separately from the service cost component in either a separate line item or within another appropriate line item with disclosure of where those costs are recorded. This standard also requires that only the service cost component is eligible for capitalization, when applicable. This standard is effective for us for reporting periods starting October 1, 2018. We are currently evaluating the impact the adoption of this standard will have on our consolidated financial statements and related disclosures. In February 2016, the FASB issued a new standard on accounting for leases that requires lessees to recognize right-of-use assets and lease liabilities for most leases, among other changes to existing lease accounting guidance. The new standard also requires additional qualitative and quantitative disclosures about leasing activities. This standard is effective for us for reporting periods beginning October 1, 2019. We are currently evaluating the impact the adoption of this standard will have on our consolidated financial statements and related disclosures. In May 2014, the FASB issued a new standard on revenue recognition related to contracts with customers. This standard supersedes nearly all existing revenue recognition guidance and involves a five-step principles-based approach to recognizing revenue. The underlying principle is to recognize revenue when promised goods or services are transferred to customers in an amount that reflects the consideration that is expected to be received for those goods or services. The new standard will also require additional qualitative and quantitative disclosures about contracts with customers, significant judgments made in applying the revenue guidance, and assets recognized from the costs to obtain or fulfill a contract. We will adopt this new standard under the modified retrospective method in the first quarter of fiscal 2019, with the cumulative effect of initially applying the guidance recognized in retained earnings at the adoption date. We have established a project plan and a cross-functional implementation team to adopt the new revenue standard. We are in the process of identifying and implementing necessary changes to accounting policies, processes, controls and systems to enable compliance with this new standard. We continue to evaluate the impact the adoption of this standard will have on our consolidated financial statements and related disclosures. Although we do not expect the effect of changes to our accounting for revenue and contract costs to be significant, we do expect the impacts will include changes to the timing of revenue currently recognized under the completed contract method, changes to the timing of revenue from software licenses bundled with services, and the capitalization of certain contract costs. We do expect an increase in qualitative and quantitative disclosures about contracts with customers, significant judgments made in applying the revenue guidance, and assets recognized from the costs to obtain or fulfill a contract.

Share-Based Compensation

Share-Based Compensation	9 Months Ended
	Jun. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-Based Compensation	Share-Based Compensation We recognized $9.9 million and $28.6 million of pre-tax share-based compensation expense during the three and nine months ended June 30, 2018 , respectively. We recognized $9.2 million and $29.4 million of pre-tax share-based compensation expense during the three and nine months ended June 30, 2017 , respectively. Our annual grant of share-based compensation takes place during the first quarter of each fiscal year. The number of shares granted to employees and non-employee directors and the weighted average fair value per share during the periods presented were (in thousands, except per share amounts): Nine Months Ended June 30, 2018 2017 Grants Wtd. Avg. Share Fair Value Grants Wtd. Avg. Share Fair Value Stock options 865 $ 35.46 1,001 $ 25.49 Performance shares 40 219.04 42 174.37 Restricted stock and restricted stock units 45 188.98 51 138.35 Unrestricted stock 7 183.76 8 128.35

Inventories

Inventories	9 Months Ended
	Jun. 30, 2018
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories consist of (in millions): June 30, September 30, Finished goods $ 223.3 $ 218.7 Work in process 180.4 168.0 Raw materials 166.6 172.0 Inventories $ 570.3 $ 558.7

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
	Jun. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets Changes in the carrying amount of goodwill for the nine months ended June 30, 2018 , are (in millions): Architecture & Software Control Products & Solutions Total Balance as of September 30, 2017 $ 417.2 $ 660.5 $ 1,077.7 Acquisition of business 6.8 — 6.8 Translation (1.0 ) (5.0 ) (6.0 ) Balance as of June 30, 2018 $ 423.0 $ 655.5 $ 1,078.5 Other intangible assets consist of (in millions): June 30, 2018 Carrying Amount Accumulated Amortization Net Amortized intangible assets: Computer software products $ 190.9 $ 115.2 $ 75.7 Customer relationships 113.8 65.3 48.5 Technology 107.2 62.8 44.4 Trademarks 32.2 23.4 8.8 Other 11.3 9.9 1.4 Total amortized intangible assets 455.4 276.6 178.8 Allen-Bradley ® trademark not subject to amortization 43.7 — 43.7 Total $ 499.1 $ 276.6 $ 222.5 September 30, 2017 Carrying Amount Accumulated Amortization Net Amortized intangible assets: Computer software products $ 194.8 $ 113.2 $ 81.6 Customer relationships 114.5 61.5 53.0 Technology 104.8 57.9 46.9 Trademarks 32.3 21.1 11.2 Other 11.4 9.8 1.6 Total amortized intangible assets 457.8 263.5 194.3 Allen-Bradley ® trademark not subject to amortization 43.7 — 43.7 Total $ 501.5 $ 263.5 $ 238.0 Estimated amortization expense is $27.6 million in 2018 , $24.6 million in 2019 , $21.8 million in 2020 , $20.9 million in 2021 and $19.0 million in 2022 . We performed our annual evaluation of goodwill and indefinite life intangible assets for impairment as required by accounting principles generally accepted in the United States (U.S. GAAP) during the second quarter of 2018 and concluded that these assets are not impaired.

Short-term Debt

Short-term Debt	9 Months Ended
	Jun. 30, 2018
Short-term Debt [Abstract]
Short-term Debt	Short-term Debt Our short-term debt obligations primarily consist of commercial paper borrowings. We had no commercial paper borrowings outstanding at June 30, 2018. At September 30, 2017 , our commercial paper borrowings outstanding were $350.0 million . The weighted average interest rate of the commercial paper outstanding at September 30, 2017 was 1.26 percent . In December 2017, we repaid our $250.0 million 5.65% notes which were classified as the current portion of long-term debt at September 30, 2017 . On July 19, 2018, in connection with the purchase of PTC, Inc. (PTC) securities, as discussed in Note 8 in the Condensed Consolidated Financial Statements, we issued approximately $675 million of commercial paper at a weighted average interest rate of 2.19 percent .

Other Current Liabilities

Other Current Liabilities	9 Months Ended
	Jun. 30, 2018
Other Liabilities Disclosure [Abstract]
Other Current Liabilities	Other Current Liabilities Other current liabilities consist of (in millions): June 30, September 30, Unrealized losses on foreign exchange contracts $ 11.2 $ 31.3 Product warranty obligations 30.0 28.5 Taxes other than income taxes 39.3 42.7 Accrued interest 15.3 16.9 Dividends payable 113.3 — Income taxes payable 55.5 32.6 Other 129.4 68.2 Other current liabilities $ 394.0 $ 220.2

Product Warranty Obligations

Product Warranty Obligations	9 Months Ended
	Jun. 30, 2018
Product Warranties Disclosures [Abstract]
Product Warranty Obligations	Product Warranty Obligations We record a liability for product warranty obligations at the time of sale to a customer based upon historical warranty experience. Most of our products are covered under a warranty period that runs for twelve months from either the date of sale or installation. We also record a liability for specific warranty matters when they become probable and reasonably estimable. Changes in product warranty obligations are (in millions): Nine Months Ended 2018 2017 Balance at beginning of period $ 28.5 $ 28.0 Accruals for warranties issued during the current period 19.2 19.0 Adjustments to pre-existing warranties 0.2 (1.5 ) Settlements of warranty claims (17.9 ) (18.3 ) Balance at end of period $ 30.0 $ 27.2

Investments

Investments	9 Months Ended
	Jun. 30, 2018
Investments [Abstract]
Investments	Investments We record investments in fixed income and equity securities, classified as available-for-sale investments or trading investments, at fair value. Available-for-sale Investments We invest in certificates of deposit, time deposits, commercial paper and other fixed income securities which were classified as available-for-sale as of June 30, 2018 , and September 30, 2017 . Unrealized gains and losses on available-for-sale investments are included in our Condensed Consolidated Balance Sheet as a component of accumulated other comprehensive loss, net of any deferred taxes. Realized gains and losses are included in net income. Our available-for-sale investments consist of (in millions): June 30, September 30, Certificates of deposit and time deposits $ 477.9 $ 1,005.3 Commercial paper — 20.3 Corporate debt securities 160.3 199.4 Government securities 65.8 116.8 Asset-backed securities 30.0 45.8 Total $ 734.0 $ 1,387.6 Pre-tax gross unrealized gains and losses on available-for-sale investments were not material as of June 30, 2018 . Pre-tax gross realized gains and losses on available-for-sale investments were not material for the three and nine months ended June 30, 2018 . At June 30, 2018 , there were no outstanding purchases of available-for-sale investments recorded in accounts payable. We evaluated all available-for-sale investments for which the fair value was less than amortized cost for impairment on an individual security basis at June 30, 2018 . This assessment included consideration of our intent and ability to hold the security and the credit risks specific to each security. We determined that the declines in fair value of these investments were not other than temporary as of June 30, 2018 , and accordingly we did not recognize any impairment charges in net income. The table below summarizes the contractual maturities of our investments as of June 30, 2018 (in millions). Actual maturities may differ from the contractual maturities below as borrowers may have the right to prepay certain obligations. Fair Value Less than one year $ 548.6 Due in one to five years 185.4 Total $ 734.0 Classification of our available-for-sale investments as current or noncurrent is based on the nature of the investment and when the investment is reasonably expected to be realized. These investments were included in the following line items within the Condensed Consolidated Balance Sheet (in millions): June 30, September 30, Short-term investments $ 548.6 $ 1,124.6 Other assets 185.4 263.0 Total $ 734.0 $ 1,387.6 8 . Investments (continued) Trading Investments On June 11, 2018, we entered into a Securities Purchase Agreement (the "Purchase Agreement") with PTC. PTC agreed to sell 10,582,010 shares of its common stock (the "Shares") to us in a private placement at a purchase price of $94.50 per share for an aggregate purchase price of approximately $1.0 billion . For a period of approximately 3 years after the closing of the Purchase Agreement transaction ("Closing") we are subject to entity-specific transfer restrictions subject to certain exceptions. Following the first anniversary of the Closing, the Company will be allowed to transfer Shares not exceeding, in the aggregate in any 90 -day period, a number of Shares equal to up to 1.0% of PTC's total outstanding shares of common stock as of the first day in such 90 -day period, but no more than 2.0% of PTC's total outstanding shares of common stock in each of the second year and the third year after the Closing. The Purchase Agreement, which was a firm commitment as of June 11, 2018, was determined to be a forward contract which was recorded at fair value and designated as a trading security. For the three months ended June 30, 2018, losses of $76.8 million related to this forward contract were recorded in other (expense) income in the Condensed Consolidated Statement of Operations. The forward contract was valued using the difference between the purchase price of $94.50 per share of PTC common stock and the most recent closing price of PTC common stock quoted on Nasdaq, resulting in losses of $7.3 million , less a temporary discount for lack of marketability calculated using a put-option model, resulting in losses of $69.5 million . The discount is due to an instrument-specific restriction as the Shares will be issued as private placements but are contractually required to be registered by PTC under the Securities Act of 1933 within one year, at which time the discount will be reversed. As of June 30, 2018, a corresponding liability is recorded in other current liabilities in the Condensed Consolidated Balance Sheet. On July 19, 2018, we completed the purchase of the Shares. The investment maintains the same classification as the forward contract, a trading security, and will be recorded at fair value, less a discount for lack of marketability, with any changes in fair value recorded to earnings. Fair Value of Investments U.S. GAAP defines fair value as the price that would be received for an asset or paid to transfer a liability (exit price) in an orderly transaction between market participants in the principal or most advantageous market for the asset or liability. U.S. GAAP also classifies the inputs used to measure fair value into the following hierarchy: Level 1: Quoted prices in active markets for identical assets or liabilities. Level 2: Quoted prices in active markets for similar assets or liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active, or inputs other than quoted prices that are observable for the asset or liability. Level 3: Unobservable inputs for the asset or liability. We recognize all available-for-sale and trading investments at fair value in the Condensed Consolidated Balance Sheet. The valuation methodologies used for our investments measured at fair value are described as follows. Certificates of deposit and time deposits — These investments are stated at cost, which approximates fair value. Commercial paper — These investments are stated at amortized cost, which approximates fair value. Corporate debt securities — Valued at either the yields currently available on comparable securities of issuers with similar credit ratings or valued under a discounted cash flow approach that maximizes observable inputs, such as current yields of similar instruments, but includes adjustments for certain risks that may not be observable such as credit and liquidity risks. Government securities — Valued at the most recent closing price on the active market on which the individual securities are traded or, absent an active market, utilizing observable inputs such as closing prices in less frequently traded markets. Asset-backed securities — Valued using a discounted cash flow approach that maximizes observable inputs, such as current yields of benchmark instruments, but includes adjustments for certain risks that may not be observable such as credit and liquidity risks. 8 . Investments (continued) Forward contract — Valued using the difference between the PTC purchase price of $94.50 per share of PTC common stock and the most recent closing price of PTC common stock quoted on Nasdaq, less a temporary discount for lack of marketability. The discount for lack of marketability, which will reverse upon registration of the PTC securities, is calculated using a put-option model which includes observable and unobservable inputs and is categorized as Level 3 in the fair value hierarchy. The primary inputs include historical and implied PTC common stock volatility and the restriction term. The methods described above may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while we believe our valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date. We did not have any transfers between levels of fair value measurements during the periods presented. Fair values of our investments were (in millions): June 30, 2018 Level 1 Level 2 Level 3 Total Assets Certificates of deposit and time deposits $ — $ 477.9 $ — $ 477.9 Commercial paper — — — — Corporate debt securities — 160.3 — 160.3 Government securities 55.7 10.1 — 65.8 Asset-backed securities — 30.0 — 30.0 Total assets $ 55.7 $ 678.3 $ — $ 734.0 Other current liabilities Forward contract $ — $ — $ 76.8 $ 76.8 Total liabilities $ — $ — $ 76.8 $ 76.8 September 30, 2017 Level 1 Level 2 Level 3 Total Certificates of deposit and time deposits $ — $ 1,005.3 $ — $ 1,005.3 Commercial paper — 20.3 — 20.3 Corporate debt securities — 199.4 — 199.4 Government securities 98.9 17.9 — 116.8 Asset-backed securities — 45.8 — 45.8 Total $ 98.9 $ 1,288.7 $ — $ 1,387.6 The table below sets forth a summary of changes in the fair value of our Level 3 investment liability (in millions): Fair Value Agreement commencement June 11, 2018 $ (96.1 ) Unrealized gains 19.3 Balance June 30, 2018 $ (76.8 ) The loss of $96.1 million upon the agreement commencement date includes a loss of $28.1 million , resulting from the difference between the purchase price of $94.50 per share of PTC common stock and the June 11, 2018 closing price of PTC common stock, and a $68.0 million valuation adjustment pending registration of the PTC securities. The unrealized gain of $19.3 million includes a gain of $20.8 million , resulting from the appreciation of PTC common stock between the agreement commencement date and the end of the quarter, partially offset by a $1.5 million increase in the valuation adjustment associated with the appreciation of PTC’s common stock. The unrealized loss of $76.8 million at June 30, 2018 includes a $7.3 million loss on investment and a $69.5 million valuation adjustment.

Retirement Benefits

Retirement Benefits	9 Months Ended
	Jun. 30, 2018
Retirement Benefits [Abstract]
Retirement Benefits	Retirement Benefits The components of net periodic benefit cost are (in millions): Pension Benefits Three Months Ended Nine Months Ended 2018 2017 2018 2017 Service cost $ 22.2 $ 24.2 $ 66.8 $ 72.5 Interest cost 38.8 37.8 116.6 113.4 Expected return on plan assets (61.2 ) (56.2 ) (183.9 ) (168.6 ) Amortization: Prior service cost (credit) 0.1 (0.9 ) 0.4 (2.8 ) Net actuarial loss 28.3 38.2 85.0 114.4 Settlements — — — 0.2 Net periodic benefit cost $ 28.2 $ 43.1 $ 84.9 $ 129.1 Other Postretirement Benefits Three Months Ended Nine Months Ended 2018 2017 2018 2017 Service cost $ 0.4 $ 0.3 $ 1.0 $ 1.0 Interest cost 0.6 0.7 1.8 1.9 Amortization: Prior service credit (1.4 ) (1.5 ) (4.1 ) (4.5 ) Net actuarial loss 0.4 0.6 1.3 1.7 Net periodic benefit cost $ — $ 0.1 $ — $ 0.1

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	9 Months Ended
	Jun. 30, 2018
Equity [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss Changes in accumulated other comprehensive loss by component were (in millions): Three Months Ended June 30, 2018 Pension and other postretirement benefit plan adjustments, net of tax Accumulated currency translation adjustments, net of tax Net unrealized gains (losses) on cash flow hedges, net of tax Net unrealized gains (losses) on available-for-sale investments, net of tax Total accumulated other comprehensive loss, net of tax Balance as of March 31, 2018 $ (886.6 ) $ (177.3 ) $ (14.9 ) $ (2.7 ) $ (1,081.5 ) Other comprehensive income (loss) before reclassifications — (95.7 ) 14.2 0.1 (81.4 ) Amounts reclassified from accumulated other comprehensive loss 20.2 — 2.2 — 22.4 Other comprehensive income (loss) 20.2 (95.7 ) 16.4 0.1 (59.0 ) Balance as of June 30, 2018 $ (866.4 ) $ (273.0 ) $ 1.5 $ (2.6 ) $ (1,140.5 ) Nine Months Ended June 30, 2018 Pension and other postretirement benefit plan adjustments, net of tax Accumulated currency translation adjustments, net of tax Net unrealized gains (losses) on cash flow hedges, net of tax Net unrealized gains (losses) on available-for-sale investments, net of tax Total accumulated other comprehensive loss, net of tax Balance as of September 30, 2017 $ (927.0 ) $ (237.7 ) $ (14.4 ) $ (0.1 ) $ (1,179.2 ) Other comprehensive income (loss) before reclassifications — (35.3 ) 4.8 (2.5 ) (33.0 ) Amounts reclassified from accumulated other comprehensive loss 60.6 — 11.1 — 71.7 Other comprehensive income (loss) 60.6 (35.3 ) 15.9 (2.5 ) 38.7 Balance as of June 30, 2018 $ (866.4 ) $ (273.0 ) $ 1.5 $ (2.6 ) $ (1,140.5 ) 10 . Accumulated Other Comprehensive Loss (continued) Changes in accumulated other comprehensive loss by component were (in millions): Three Months Ended June 30, 2017 Pension and other postretirement benefit plan adjustments, net of tax Accumulated currency translation adjustments, net of tax Net unrealized gains (losses) on cash flow hedges, net of tax Net unrealized gains (losses) on available-for-sale investments, net of tax Total accumulated other comprehensive loss, net of tax Balance as of March 31, 2017 $ (1,191.5 ) $ (320.3 ) $ 3.9 $ (0.1 ) $ (1,508.0 ) Other comprehensive income (loss) before reclassifications — 24.9 (3.9 ) — 21.0 Amounts reclassified from accumulated other comprehensive loss 23.8 — (0.5 ) — 23.3 Other comprehensive income (loss) 23.8 24.9 (4.4 ) — 44.3 Balance as of June 30, 2017 $ (1,167.7 ) $ (295.4 ) $ (0.5 ) $ (0.1 ) $ (1,463.7 ) Nine Months Ended June 30, 2017 Pension and other postretirement benefit plan adjustments, net of tax Accumulated currency translation adjustments, net of tax Net unrealized gains (losses) on cash flow hedges, net of tax Net unrealized gains (losses) on available-for-sale investments, net of tax Total accumulated other comprehensive loss, net of tax Balance as of September 30, 2016 $ (1,239.8 ) $ (294.9 ) $ (4.1 ) $ — $ (1,538.8 ) Other comprehensive income (loss) before reclassifications 0.7 (0.5 ) 5.6 (0.1 ) 5.7 Amounts reclassified from accumulated other comprehensive loss 71.4 — (2.0 ) — 69.4 Other comprehensive income (loss) 72.1 (0.5 ) 3.6 (0.1 ) 75.1 Balance as of June 30, 2017 $ (1,167.7 ) $ (295.4 ) $ (0.5 ) $ (0.1 ) $ (1,463.7 ) 10 . Accumulated Other Comprehensive Loss (continued) The reclassifications out of accumulated other comprehensive loss to the Condensed Consolidated Statement of Operations were (in millions): Three Months Ended Nine Months Ended Affected Line in the Condensed Consolidated Statement of Operations 2018 2017 2018 2017 Pension and other postretirement benefit plan adjustments: Amortization of prior service credit $ (1.3 ) $ (2.4 ) $ (3.7 ) $ (7.3 ) (a) Amortization of net actuarial loss 28.7 38.8 86.3 116.1 (a) Settlements — — — 0.2 (a) 27.4 36.4 82.6 109.0 Income before income taxes (7.2 ) (12.6 ) (22.0 ) (37.6 ) Income tax provision $ 20.2 $ 23.8 $ 60.6 $ 71.4 Net income Net unrealized losses (gains) on cash flow hedges: Forward exchange contracts $ (0.2 ) $ (0.7 ) $ (1.5 ) $ 0.8 Sales Forward exchange contracts 3.4 (0.2 ) 17.7 (3.8 ) Cost of sales Forward exchange contracts (0.2 ) 0.1 (1.2 ) 0.7 Selling, general and administrative expenses 3.0 (0.8 ) 15.0 (2.3 ) Income before income taxes (0.8 ) 0.3 (3.9 ) 0.3 Income tax provision $ 2.2 $ (0.5 ) $ 11.1 $ (2.0 ) Net income Total reclassifications $ 22.4 $ 23.3 $ 71.7 $ 69.4 Net income (a) Reclassified from accumulated other comprehensive loss into cost of sales and selling, general and administrative expenses. These components are included in the computation of net periodic benefit cost (income). See Note 9 for further information.

Commitments and Contingent Liab

Commitments and Contingent Liabilities	9 Months Ended
	Jun. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingent Liabilities	Commitments and Contingent Liabilities Various lawsuits, claims and proceedings have been or may be instituted or asserted against us relating to the conduct of our business, including those pertaining to product liability, environmental, safety and health, intellectual property, employment and contract matters. Although the outcome of litigation cannot be predicted with certainty and some lawsuits, claims or proceedings may be disposed of unfavorably to us, we believe the disposition of matters that are pending or have been asserted will not have a material effect on our business, financial condition or results of operations. We (including our subsidiaries) have been named as a defendant in lawsuits alleging personal injury as a result of exposure to asbestos that was used in certain components of our products many years ago. Currently there are a few thousand claimants in lawsuits that name us as defendants, together with hundreds of other companies. In some cases, the claims involve products from divested businesses, and we are indemnified for most of the costs. However, we have agreed to defend and indemnify asbestos claims associated with products manufactured or sold by our former Dodge mechanical and Reliance Electric motors and motor repair services businesses prior to their divestiture by us, which occurred on January 31, 2007. We are also responsible for half of the costs and liabilities associated with asbestos cases against the former Rockwell International Corporation’s divested measurement and flow control business. But in all cases, for those claimants who do show that they worked with our products or products of divested businesses for which we are responsible, we nevertheless believe we have meritorious defenses, in substantial part due to the integrity of the products, the encapsulated nature of any asbestos-containing components, and the lack of any impairing medical condition on the part of many claimants. We defend those cases vigorously. Historically, we have been dismissed from the vast majority of these claims with no payment to claimants. We have maintained insurance coverage that we believe covers indemnity and defense costs, over and above self-insured retentions, for claims arising from our former Allen-Bradley subsidiary. Our insurance carrier entered into a cost share agreement with us to pay the substantial majority of future defense and indemnity costs for Allen-Bradley asbestos claims. We believe that this arrangement will continue to provide coverage for Allen-Bradley asbestos claims throughout the remaining life of the asbestos liability. We also have rights to historic insurance policies that provide indemnity and defense costs, over and above self-insured retentions, for claims arising out of certain asbestos liabilities relating to the divested measurement and flow control business. We initiated litigation against several insurers to pursue coverage for these claims, subject to each carrier's policy limits, and the case is now pending in Los Angeles County Superior Court. In September 2016, we entered into settlement agreements with certain insurance company defendants, and we continue to pursue our claims against the remaining defendants. We believe these settlement agreements will continue to provide partial coverage for these asbestos claims throughout the remaining life of asbestos liability. The uncertainties of asbestos claim litigation make it difficult to predict accurately the ultimate outcome of asbestos claims. That uncertainty is increased by the possibility of adverse rulings or new legislation affecting asbestos claim litigation or the settlement process. Subject to these uncertainties and based on our experience defending asbestos claims, we do not believe these lawsuits will have a material effect on our business, financial condition or results of operations. We have, from time to time, divested certain of our businesses. In connection with these divestitures, certain lawsuits, claims and proceedings may be instituted or asserted against us related to the period that we owned the businesses, either because we agreed to retain certain liabilities related to these periods or because such liabilities fall upon us by operation of law. In some instances, the divested business has assumed the liabilities; however, it is possible that we might be responsible for satisfying those liabilities if the divested business is unable to do so. In connection with the spin-offs of our former automotive business, semiconductor systems business and avionics and communications business, the spun-off companies have agreed to indemnify us for substantially all contingent liabilities related to the respective businesses, including environmental and intellectual property matters. In conjunction with the sale of our Dodge mechanical and Reliance Electric motors and motor repair services businesses, we agreed to indemnify Baldor Electric Company for costs and damages related to certain legal, legacy environmental and asbestos matters of these businesses arising before January 31, 2007, for which the maximum exposure would be capped at the amount received for the sale. 11 . Commitments and Contingent Liabilities (continued) In many countries we provide a limited intellectual property indemnity as part of our terms and conditions of sale. We also at times provide limited intellectual property indemnities in other contracts with third parties, such as contracts concerning the development and manufacture of our products. As of June 30, 2018 , we were not aware of any material indemnification claims where an unfavorable outcome was probable or reasonably possible. Historically, claims that have been made under the indemnification agreements have not had a material impact on our business, financial condition or results of operations; however, to the extent that valid indemnification claims arise in the future, future payments by us could be significant and could have a material adverse effect on our business, financial condition or results of operations in a particular period.

Income Taxes

Income Taxes	9 Months Ended
	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes At the end of each interim period, we estimate a base effective tax rate that we expect for the full fiscal year based on our most recent forecast of pre-tax income, permanent book and tax differences and global tax planning strategies. We use this base rate to provide for income taxes on a year-to-date basis, excluding the effect of significant unusual items and items that are reported net of their related tax effects in the period in which they occur. Our base rate reflects a change in the U.S. federal statutory rate from 35 percent to 21 percent resulting from the enactment of the Tax Cuts and Jobs Act of 2017 (the “Tax Act”) on December 22, 2017. The rate change was effective for us at the beginning of our fiscal year, using a blended rate for the annual period. As a result, the blended statutory tax rate for our fiscal year 2018 is 24.53 percent . The effective tax rate was 21.1 percent and 77.7 percent in the three and nine months ended June 30, 2018 , respectively, compared to 21.4 percent and 18.7 percent in the three and nine months ended June 30, 2017 , respectively. The effective tax rate was lower than the U.S. statutory rate of 24.53 percent in the three months ended June 30, 2018 , primarily because we benefited from lower non-U.S. tax rates and also realized a benefit from discrete tax items, partially offset by the PTC investment adjustments without a corresponding tax benefit. The effective tax rate was higher than the U.S. statutory rate of 24.53 percent in the nine months ended June 30, 2018 , due to provisional tax expense ( $483.7 million or 57.0 percent ) resulting from the Tax Act. The effective tax rate was lower than the U.S. statutory rate of 35 percent in the three and nine months ended June 30, 2017 , primarily because we benefited from lower non-U.S. tax rates, and we also realized a benefit from discrete tax items. Provisional Amounts The Tax Act requires us to revalue our existing U.S. deferred tax balance to reflect the lower statutory tax rate and pay a one-time tax on earnings of certain foreign subsidiaries that were previously deferred from U.S. tax (“transition tax”). At June 30, 2018 , we have not completed our accounting for the tax effects of the Tax Act; however, we have made reasonable estimates of its effects on our existing U.S. deferred tax balance and the transition tax and recorded provisional amounts which are included as a component of income tax expense from continuing operations, as discussed in more detail below. We revalued our U.S. deferred tax assets and liabilities based on the rate at which they are expected to reverse in the future, which is either 24.53 percent for reversals in 2018 or 21 percent for reversals in 2019 and subsequent years. However, we are still analyzing certain aspects of the Tax Act and refining our calculations, which could potentially affect the valuation of these balances or potentially give rise to new deferred tax amounts. We have recorded a provisional amount of $94.2 million in the nine months ended June 30, 2018 , of which the entire amount was recorded in the three months ended December 31, 2017. The Tax Act requires the transition tax to be computed based on our total post-1986 earnings and profits (“E&P”) at December 31, 2017, that were previously deferred from U.S. income tax. As a result, we are required to make reasonable estimates given our September 30 fiscal year. We have recorded a provisional benefit of $7.5 million and provisional expense of $389.5 million for the transition tax liability for all of our foreign subsidiaries in the three and nine months ended June 30, 2018 , respectively. At June 30, 2018 , we have recorded income taxes payable of $389.5 million related to the transition tax in the Condensed Consolidated Balance Sheet, of which $34.1 million is recorded within other current liabilities, and $355.4 million is recorded within other liabilities because that portion is payable greater than twelve months after June 30, 2018 . 12 . Income Taxes (continued) The transition tax is applied to the balance of post-1986 E&P at rates of 15.5 percent for cash assets (as defined in the Tax Act) and 8 percent for non-cash assets measured at the higher of the balance at September 30, 2018, or the average of the ending balances at September 30, 2016, and September 30, 2017. Our reasonable estimates will change as a result of adjustments impacting E&P, and distributions and other transactions impacting cash. The Company anticipates that it will complete its accounting for the transition tax at December 31, 2018. These uncertainties form the basis for the Company’s provisional reporting based upon reasonable estimates at June 30, 2018 . The Company has historically accounted for the earnings of its foreign subsidiaries as being indefinitely reinvested under ASC 740-30. As a result of the broad changes to the U.S. international tax system under the Tax Act, the Company will begin to account for substantially all of its non-U.S. subsidiaries as being immediately subject to tax other than in certain limited circumstances. The Company has provided for taxes on the balance of historic and current earnings that may be subject to foreign withholding and U.S. state taxes. For future distributions related to historic earnings, we recorded deferred tax liabilities of $59.8 million related to foreign withholding taxes, and deferred tax assets of $59.8 million related to foreign tax credits attributable to the foreign withholding taxes. These provisional amounts are presented net within deferred income tax assets in the Condensed Consolidated Balance Sheet as of June 30, 2018 . We have not yet completed our assessment of whether a portion of these assets and liabilities should be presented as gross amounts. Unrecognized Tax Benefits The amount of gross unrecognized tax benefits was $19.4 million and $31.1 million at June 30, 2018 , and September 30, 2017 , respectively, of which the entire amount would reduce our effective tax rate if recognized. Accrued interest and penalties related to unrecognized tax benefits were $3.7 million and $4.0 million at June 30, 2018 , and September 30, 2017 , respectively. We recognize interest and penalties related to unrecognized tax benefits in the income tax provision. We believe it is reasonably possible that the amount of gross unrecognized tax benefits could be reduced by up to $5.1 million in the next 12 months as a result of the resolution of tax matters in various global jurisdictions and the lapses of statutes of limitations. If all of the unrecognized tax benefits were recognized, the net reduction to our income tax provision, including the recognition of interest and penalties and offsetting tax assets, could be up to $4.5 million . We conduct business globally and are routinely audited by the various tax jurisdictions in which we operate. We are no longer subject to U.S. federal income tax examinations for years before 2016 and are no longer subject to state, local and foreign income tax examinations for years before 2003 .

Business Segment Information

Business Segment Information	9 Months Ended
	Jun. 30, 2018
Segment Reporting [Abstract]
Business Segment Information	Business Segment Information The following tables reflect the sales and operating results of our reportable segments (in millions): Three Months Ended Nine Months Ended 2018 2017 2018 2017 Sales Architecture & Software $ 795.7 $ 731.9 $ 2,311.0 $ 2,147.3 Control Products & Solutions 903.0 867.3 2,625.5 2,496.5 Total $ 1,698.7 $ 1,599.2 $ 4,936.5 $ 4,643.8 Segment operating earnings Architecture & Software $ 239.0 $ 204.3 $ 681.8 $ 603.5 Control Products & Solutions 143.9 132.7 401.7 346.1 Total 382.9 337.0 1,083.5 949.6 Purchase accounting depreciation and amortization (4.3 ) (5.6 ) (13.2 ) (16.8 ) General corporate – net (27.7 ) (16.5 ) (61.7 ) (52.8 ) Non-operating pension costs (5.9 ) (19.8 ) (17.7 ) (59.4 ) Costs related to unsolicited Emerson proposals — — (11.2 ) — Loss on investments (7.3 ) — (7.3 ) — Valuation adjustment pending registration of PTC securities (69.5 ) — (69.5 ) — Interest expense (16.5 ) (19.1 ) (53.8 ) (56.7 ) Income before income taxes $ 251.7 $ 276.0 $ 849.1 $ 763.9 Among other considerations, we evaluate performance and allocate resources based upon segment operating earnings before income taxes, costs related to the unsolicited Emerson proposals in the first quarter of fiscal 2018, interest expense, costs related to corporate offices, non-operating pension costs, certain corporate initiatives, gains and losses on investments, valuation adjustment pending registration of PTC securities, gains and losses from the disposition of businesses, and purchase accounting depreciation and amortization. We incurred $11.2 million of third-party advisory fees in connection with our evaluation of unsolicited Emerson acquisition proposals in the first quarter of 2018. Depending on the product, intersegment sales within a single legal entity are either at cost or cost plus a mark-up, which does not necessarily represent a market price. Sales between legal entities are at an appropriate transfer price. We allocate costs related to shared segment operating activities to the segments using a methodology consistent with the expected benefit.

Basis of Presentation and Acc21

Basis of Presentation and Accounting Policies (Policies)	9 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
Receivables	Receivables Receivables are stated net of an allowance for doubtful accounts of $19.7 million at June 30, 2018 , and $24.9 million at September 30, 2017 . In addition, receivables are stated net of an allowance for certain customer returns, rebates and incentives of $7.8 million at June 30, 2018 , and $11.9 million at September 30, 2017 .
Recent accounting pronouncements	Recent Accounting Pronouncements In March 2017, the FASB issued a new standard regarding the presentation of net periodic pension and postretirement benefit costs. This standard requires the service cost component to be reported in the income statement in the same line item as other compensation costs arising from services rendered by the related employees during the period. The other components of net periodic benefit cost are required to be presented separately from the service cost component in either a separate line item or within another appropriate line item with disclosure of where those costs are recorded. This standard also requires that only the service cost component is eligible for capitalization, when applicable. This standard is effective for us for reporting periods starting October 1, 2018. We are currently evaluating the impact the adoption of this standard will have on our consolidated financial statements and related disclosures. In February 2016, the FASB issued a new standard on accounting for leases that requires lessees to recognize right-of-use assets and lease liabilities for most leases, among other changes to existing lease accounting guidance. The new standard also requires additional qualitative and quantitative disclosures about leasing activities. This standard is effective for us for reporting periods beginning October 1, 2019. We are currently evaluating the impact the adoption of this standard will have on our consolidated financial statements and related disclosures. In May 2014, the FASB issued a new standard on revenue recognition related to contracts with customers. This standard supersedes nearly all existing revenue recognition guidance and involves a five-step principles-based approach to recognizing revenue. The underlying principle is to recognize revenue when promised goods or services are transferred to customers in an amount that reflects the consideration that is expected to be received for those goods or services. The new standard will also require additional qualitative and quantitative disclosures about contracts with customers, significant judgments made in applying the revenue guidance, and assets recognized from the costs to obtain or fulfill a contract. We will adopt this new standard under the modified retrospective method in the first quarter of fiscal 2019, with the cumulative effect of initially applying the guidance recognized in retained earnings at the adoption date. We have established a project plan and a cross-functional implementation team to adopt the new revenue standard. We are in the process of identifying and implementing necessary changes to accounting policies, processes, controls and systems to enable compliance with this new standard. We continue to evaluate the impact the adoption of this standard will have on our consolidated financial statements and related disclosures. Although we do not expect the effect of changes to our accounting for revenue and contract costs to be significant, we do expect the impacts will include changes to the timing of revenue currently recognized under the completed contract method, changes to the timing of revenue from software licenses bundled with services, and the capitalization of certain contract costs. We do expect an increase in qualitative and quantitative disclosures about contracts with customers, significant judgments made in applying the revenue guidance, and assets recognized from the costs to obtain or fulfill a contract.
Product warranty obligations	We record a liability for product warranty obligations at the time of sale to a customer based upon historical warranty experience. Most of our products are covered under a warranty period that runs for twelve months from either the date of sale or installation. We also record a liability for specific warranty matters when they become probable and reasonably estimable.
Investments	We invest in certificates of deposit, time deposits, commercial paper and other fixed income securities which were classified as available-for-sale as of June 30, 2018 , and September 30, 2017 . Unrealized gains and losses on available-for-sale investments are included in our Condensed Consolidated Balance Sheet as a component of accumulated other comprehensive loss, net of any deferred taxes. Realized gains and losses are included in net income.
Fair Value of Financial Instruments	Fair Value of Investments U.S. GAAP defines fair value as the price that would be received for an asset or paid to transfer a liability (exit price) in an orderly transaction between market participants in the principal or most advantageous market for the asset or liability. U.S. GAAP also classifies the inputs used to measure fair value into the following hierarchy: Level 1: Quoted prices in active markets for identical assets or liabilities. Level 2: Quoted prices in active markets for similar assets or liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active, or inputs other than quoted prices that are observable for the asset or liability. Level 3: Unobservable inputs for the asset or liability. We recognize all available-for-sale and trading investments at fair value in the Condensed Consolidated Balance Sheet. The valuation methodologies used for our investments measured at fair value are described as follows. Certificates of deposit and time deposits — These investments are stated at cost, which approximates fair value. Commercial paper — These investments are stated at amortized cost, which approximates fair value. Corporate debt securities — Valued at either the yields currently available on comparable securities of issuers with similar credit ratings or valued under a discounted cash flow approach that maximizes observable inputs, such as current yields of similar instruments, but includes adjustments for certain risks that may not be observable such as credit and liquidity risks. Government securities — Valued at the most recent closing price on the active market on which the individual securities are traded or, absent an active market, utilizing observable inputs such as closing prices in less frequently traded markets. Asset-backed securities — Valued using a discounted cash flow approach that maximizes observable inputs, such as current yields of benchmark instruments, but includes adjustments for certain risks that may not be observable such as credit and liquidity risks. 8 . Investments (continued) Forward contract — Valued using the difference between the PTC purchase price of $94.50 per share of PTC common stock and the most recent closing price of PTC common stock quoted on Nasdaq, less a temporary discount for lack of marketability. The discount for lack of marketability, which will reverse upon registration of the PTC securities, is calculated using a put-option model which includes observable and unobservable inputs and is categorized as Level 3 in the fair value hierarchy. The primary inputs include historical and implied PTC common stock volatility and the restriction term. The methods described above may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while we believe our valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date. We did not have any transfers between levels of fair value measurements during the periods presented.
Income taxes	At the end of each interim period, we estimate a base effective tax rate that we expect for the full fiscal year based on our most recent forecast of pre-tax income, permanent book and tax differences and global tax planning strategies. We use this base rate to provide for income taxes on a year-to-date basis, excluding the effect of significant unusual items and items that are reported net of their related tax effects in the period in which they occur.

Basis of Presentation and Acc22

Basis of Presentation and Accounting Policies (Tables)	9 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table reconciles basic and diluted earnings per share (EPS) amounts (in millions, except per share amounts): Three Months Ended Nine Months Ended 2018 2017 2018 2017 Net income $ 198.6 $ 216.9 $ 189.6 $ 621.1 Less: Allocation to participating securities (0.1 ) (0.3 ) (0.2 ) (0.7 ) Net income available to common shareowners $ 198.5 $ 216.6 $ 189.4 $ 620.4 Basic weighted average outstanding shares 124.4 128.4 126.5 128.5 Effect of dilutive securities Stock options 1.2 1.2 1.4 1.2 Performance shares 0.2 0.3 0.2 0.3 Diluted weighted average outstanding shares 125.8 129.9 128.1 130.0 Earnings per share: Basic $ 1.60 $ 1.69 $ 1.50 $ 4.83 Diluted $ 1.58 $ 1.67 $ 1.48 $ 4.77

Share-Based Compensation (Table

Share-Based Compensation (Tables)	9 Months Ended
	Jun. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Share-based Compensation, Activity	The number of shares granted to employees and non-employee directors and the weighted average fair value per share during the periods presented were (in thousands, except per share amounts): Nine Months Ended June 30, 2018 2017 Grants Wtd. Avg. Share Fair Value Grants Wtd. Avg. Share Fair Value Stock options 865 $ 35.46 1,001 $ 25.49 Performance shares 40 219.04 42 174.37 Restricted stock and restricted stock units 45 188.98 51 138.35 Unrestricted stock 7 183.76 8 128.35

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Jun. 30, 2018
Inventory Disclosure [Abstract]
Schedule of Inventory, Current	Inventories consist of (in millions): June 30, September 30, Finished goods $ 223.3 $ 218.7 Work in process 180.4 168.0 Raw materials 166.6 172.0 Inventories $ 570.3 $ 558.7

Goodwill and Other Intangible25

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Jun. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	Changes in the carrying amount of goodwill for the nine months ended June 30, 2018 , are (in millions): Architecture & Software Control Products & Solutions Total Balance as of September 30, 2017 $ 417.2 $ 660.5 $ 1,077.7 Acquisition of business 6.8 — 6.8 Translation (1.0 ) (5.0 ) (6.0 ) Balance as of June 30, 2018 $ 423.0 $ 655.5 $ 1,078.5
Schedule of Finite Lived and Indefinite Lived Intangible Assets by Major Class	Other intangible assets consist of (in millions): June 30, 2018 Carrying Amount Accumulated Amortization Net Amortized intangible assets: Computer software products $ 190.9 $ 115.2 $ 75.7 Customer relationships 113.8 65.3 48.5 Technology 107.2 62.8 44.4 Trademarks 32.2 23.4 8.8 Other 11.3 9.9 1.4 Total amortized intangible assets 455.4 276.6 178.8 Allen-Bradley ® trademark not subject to amortization 43.7 — 43.7 Total $ 499.1 $ 276.6 $ 222.5 September 30, 2017 Carrying Amount Accumulated Amortization Net Amortized intangible assets: Computer software products $ 194.8 $ 113.2 $ 81.6 Customer relationships 114.5 61.5 53.0 Technology 104.8 57.9 46.9 Trademarks 32.3 21.1 11.2 Other 11.4 9.8 1.6 Total amortized intangible assets 457.8 263.5 194.3 Allen-Bradley ® trademark not subject to amortization 43.7 — 43.7 Total $ 501.5 $ 263.5 $ 238.0

Other Current Liabilities (Tabl

Other Current Liabilities (Tables)	9 Months Ended
	Jun. 30, 2018
Other Liabilities Disclosure [Abstract]
Other Current Liabilities	Other current liabilities consist of (in millions): June 30, September 30, Unrealized losses on foreign exchange contracts $ 11.2 $ 31.3 Product warranty obligations 30.0 28.5 Taxes other than income taxes 39.3 42.7 Accrued interest 15.3 16.9 Dividends payable 113.3 — Income taxes payable 55.5 32.6 Other 129.4 68.2 Other current liabilities $ 394.0 $ 220.2

Product Warranty Obligations (T

Product Warranty Obligations (Tables)	9 Months Ended
	Jun. 30, 2018
Product Warranties Disclosures [Abstract]
Schedule of Product Warranty Liability	Changes in product warranty obligations are (in millions): Nine Months Ended 2018 2017 Balance at beginning of period $ 28.5 $ 28.0 Accruals for warranties issued during the current period 19.2 19.0 Adjustments to pre-existing warranties 0.2 (1.5 ) Settlements of warranty claims (17.9 ) (18.3 ) Balance at end of period $ 30.0 $ 27.2

Investments (Tables)

Investments (Tables)	9 Months Ended
	Jun. 30, 2018
Investments [Abstract]
Investment	Our available-for-sale investments consist of (in millions): June 30, September 30, Certificates of deposit and time deposits $ 477.9 $ 1,005.3 Commercial paper — 20.3 Corporate debt securities 160.3 199.4 Government securities 65.8 116.8 Asset-backed securities 30.0 45.8 Total $ 734.0 $ 1,387.6
Investments Classified by Contractual Maturity Date	The table below summarizes the contractual maturities of our investments as of June 30, 2018 (in millions). Actual maturities may differ from the contractual maturities below as borrowers may have the right to prepay certain obligations. Fair Value Less than one year $ 548.6 Due in one to five years 185.4 Total $ 734.0
Fair Value, by Balance Sheet Grouping	Classification of our available-for-sale investments as current or noncurrent is based on the nature of the investment and when the investment is reasonably expected to be realized. These investments were included in the following line items within the Condensed Consolidated Balance Sheet (in millions): June 30, September 30, Short-term investments $ 548.6 $ 1,124.6 Other assets 185.4 263.0 Total $ 734.0 $ 1,387.6
Fair Value Measurements, Recurring and Nonrecurring	Fair values of our investments were (in millions): June 30, 2018 Level 1 Level 2 Level 3 Total Assets Certificates of deposit and time deposits $ — $ 477.9 $ — $ 477.9 Commercial paper — — — — Corporate debt securities — 160.3 — 160.3 Government securities 55.7 10.1 — 65.8 Asset-backed securities — 30.0 — 30.0 Total assets $ 55.7 $ 678.3 $ — $ 734.0 Other current liabilities Forward contract $ — $ — $ 76.8 $ 76.8 Total liabilities $ — $ — $ 76.8 $ 76.8 September 30, 2017 Level 1 Level 2 Level 3 Total Certificates of deposit and time deposits $ — $ 1,005.3 $ — $ 1,005.3 Commercial paper — 20.3 — 20.3 Corporate debt securities — 199.4 — 199.4 Government securities 98.9 17.9 — 116.8 Asset-backed securities — 45.8 — 45.8 Total $ 98.9 $ 1,288.7 $ — $ 1,387.6
Summary of Changes in the Fair Value of Level 3 Investments	The table below sets forth a summary of changes in the fair value of our Level 3 investment liability (in millions): Fair Value Agreement commencement June 11, 2018 $ (96.1 ) Unrealized gains 19.3 Balance June 30, 2018 $ (76.8 )

Retirement Benefits (Tables)

Retirement Benefits (Tables)	9 Months Ended
	Jun. 30, 2018
Retirement Benefits [Abstract]
Schedule of Net Benefit Costs	The components of net periodic benefit cost are (in millions): Pension Benefits Three Months Ended Nine Months Ended 2018 2017 2018 2017 Service cost $ 22.2 $ 24.2 $ 66.8 $ 72.5 Interest cost 38.8 37.8 116.6 113.4 Expected return on plan assets (61.2 ) (56.2 ) (183.9 ) (168.6 ) Amortization: Prior service cost (credit) 0.1 (0.9 ) 0.4 (2.8 ) Net actuarial loss 28.3 38.2 85.0 114.4 Settlements — — — 0.2 Net periodic benefit cost $ 28.2 $ 43.1 $ 84.9 $ 129.1 Other Postretirement Benefits Three Months Ended Nine Months Ended 2018 2017 2018 2017 Service cost $ 0.4 $ 0.3 $ 1.0 $ 1.0 Interest cost 0.6 0.7 1.8 1.9 Amortization: Prior service credit (1.4 ) (1.5 ) (4.1 ) (4.5 ) Net actuarial loss 0.4 0.6 1.3 1.7 Net periodic benefit cost $ — $ 0.1 $ — $ 0.1

Accumulated Other Comprehensi30

Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Jun. 30, 2018
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	Changes in accumulated other comprehensive loss by component were (in millions): Three Months Ended June 30, 2018 Pension and other postretirement benefit plan adjustments, net of tax Accumulated currency translation adjustments, net of tax Net unrealized gains (losses) on cash flow hedges, net of tax Net unrealized gains (losses) on available-for-sale investments, net of tax Total accumulated other comprehensive loss, net of tax Balance as of March 31, 2018 $ (886.6 ) $ (177.3 ) $ (14.9 ) $ (2.7 ) $ (1,081.5 ) Other comprehensive income (loss) before reclassifications — (95.7 ) 14.2 0.1 (81.4 ) Amounts reclassified from accumulated other comprehensive loss 20.2 — 2.2 — 22.4 Other comprehensive income (loss) 20.2 (95.7 ) 16.4 0.1 (59.0 ) Balance as of June 30, 2018 $ (866.4 ) $ (273.0 ) $ 1.5 $ (2.6 ) $ (1,140.5 ) Nine Months Ended June 30, 2018 Pension and other postretirement benefit plan adjustments, net of tax Accumulated currency translation adjustments, net of tax Net unrealized gains (losses) on cash flow hedges, net of tax Net unrealized gains (losses) on available-for-sale investments, net of tax Total accumulated other comprehensive loss, net of tax Balance as of September 30, 2017 $ (927.0 ) $ (237.7 ) $ (14.4 ) $ (0.1 ) $ (1,179.2 ) Other comprehensive income (loss) before reclassifications — (35.3 ) 4.8 (2.5 ) (33.0 ) Amounts reclassified from accumulated other comprehensive loss 60.6 — 11.1 — 71.7 Other comprehensive income (loss) 60.6 (35.3 ) 15.9 (2.5 ) 38.7 Balance as of June 30, 2018 $ (866.4 ) $ (273.0 ) $ 1.5 $ (2.6 ) $ (1,140.5 ) 10 . Accumulated Other Comprehensive Loss (continued) Changes in accumulated other comprehensive loss by component were (in millions): Three Months Ended June 30, 2017 Pension and other postretirement benefit plan adjustments, net of tax Accumulated currency translation adjustments, net of tax Net unrealized gains (losses) on cash flow hedges, net of tax Net unrealized gains (losses) on available-for-sale investments, net of tax Total accumulated other comprehensive loss, net of tax Balance as of March 31, 2017 $ (1,191.5 ) $ (320.3 ) $ 3.9 $ (0.1 ) $ (1,508.0 ) Other comprehensive income (loss) before reclassifications — 24.9 (3.9 ) — 21.0 Amounts reclassified from accumulated other comprehensive loss 23.8 — (0.5 ) — 23.3 Other comprehensive income (loss) 23.8 24.9 (4.4 ) — 44.3 Balance as of June 30, 2017 $ (1,167.7 ) $ (295.4 ) $ (0.5 ) $ (0.1 ) $ (1,463.7 ) Nine Months Ended June 30, 2017 Pension and other postretirement benefit plan adjustments, net of tax Accumulated currency translation adjustments, net of tax Net unrealized gains (losses) on cash flow hedges, net of tax Net unrealized gains (losses) on available-for-sale investments, net of tax Total accumulated other comprehensive loss, net of tax Balance as of September 30, 2016 $ (1,239.8 ) $ (294.9 ) $ (4.1 ) $ — $ (1,538.8 ) Other comprehensive income (loss) before reclassifications 0.7 (0.5 ) 5.6 (0.1 ) 5.7 Amounts reclassified from accumulated other comprehensive loss 71.4 — (2.0 ) — 69.4 Other comprehensive income (loss) 72.1 (0.5 ) 3.6 (0.1 ) 75.1 Balance as of June 30, 2017 $ (1,167.7 ) $ (295.4 ) $ (0.5 ) $ (0.1 ) $ (1,463.7 )
Reclassification out of Accumulated Other Comprehensive Income	The reclassifications out of accumulated other comprehensive loss to the Condensed Consolidated Statement of Operations were (in millions): Three Months Ended Nine Months Ended Affected Line in the Condensed Consolidated Statement of Operations 2018 2017 2018 2017 Pension and other postretirement benefit plan adjustments: Amortization of prior service credit $ (1.3 ) $ (2.4 ) $ (3.7 ) $ (7.3 ) (a) Amortization of net actuarial loss 28.7 38.8 86.3 116.1 (a) Settlements — — — 0.2 (a) 27.4 36.4 82.6 109.0 Income before income taxes (7.2 ) (12.6 ) (22.0 ) (37.6 ) Income tax provision $ 20.2 $ 23.8 $ 60.6 $ 71.4 Net income Net unrealized losses (gains) on cash flow hedges: Forward exchange contracts $ (0.2 ) $ (0.7 ) $ (1.5 ) $ 0.8 Sales Forward exchange contracts 3.4 (0.2 ) 17.7 (3.8 ) Cost of sales Forward exchange contracts (0.2 ) 0.1 (1.2 ) 0.7 Selling, general and administrative expenses 3.0 (0.8 ) 15.0 (2.3 ) Income before income taxes (0.8 ) 0.3 (3.9 ) 0.3 Income tax provision $ 2.2 $ (0.5 ) $ 11.1 $ (2.0 ) Net income Total reclassifications $ 22.4 $ 23.3 $ 71.7 $ 69.4 Net income (a) Reclassified from accumulated other comprehensive loss into cost of sales and selling, general and administrative expenses. These components are included in the computation of net periodic benefit cost (income). See Note 9 for further information.

Business Segment Information (T

Business Segment Information (Tables)	9 Months Ended
	Jun. 30, 2018
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following tables reflect the sales and operating results of our reportable segments (in millions): Three Months Ended Nine Months Ended 2018 2017 2018 2017 Sales Architecture & Software $ 795.7 $ 731.9 $ 2,311.0 $ 2,147.3 Control Products & Solutions 903.0 867.3 2,625.5 2,496.5 Total $ 1,698.7 $ 1,599.2 $ 4,936.5 $ 4,643.8 Segment operating earnings Architecture & Software $ 239.0 $ 204.3 $ 681.8 $ 603.5 Control Products & Solutions 143.9 132.7 401.7 346.1 Total 382.9 337.0 1,083.5 949.6 Purchase accounting depreciation and amortization (4.3 ) (5.6 ) (13.2 ) (16.8 ) General corporate – net (27.7 ) (16.5 ) (61.7 ) (52.8 ) Non-operating pension costs (5.9 ) (19.8 ) (17.7 ) (59.4 ) Costs related to unsolicited Emerson proposals — — (11.2 ) — Loss on investments (7.3 ) — (7.3 ) — Valuation adjustment pending registration of PTC securities (69.5 ) — (69.5 ) — Interest expense (16.5 ) (19.1 ) (53.8 ) (56.7 ) Income before income taxes $ 251.7 $ 276.0 $ 849.1 $ 763.9

Basis of Presentation and Acc32

Basis of Presentation and Accounting Policies - Narrative (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Sep. 30, 2017
Accounting Policies [Abstract]
Allowance for doubtful accounts	$ 19.7		$ 19.7		$ 24.9
Allowance for certain customer returns, rebates and incentives	$ 7.8		$ 7.8		$ 11.9
Antidilutive share-based compensation awards (in shares)	0.9	0.6	0.9	0.8
Capital expenditures in accounts payable or other current liabilities at period end			$ 13.4	$ 22.3
Outstanding purchase of common stock recorded in accounts payable			$ 22.6	$ 3.4

Basis of Presentation and Acc33

Basis of Presentation and Accounting Policies - Reconciliation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Reconciled Basic and Diluted EPS
Net income	$ 198.6	$ 216.9	$ 189.6	$ 621.1
Basic weighted average outstanding shares	(0.1)	(0.3)	(0.2)	(0.7)
Net income available to common shareowners	$ 198.5	$ 216.6	$ 189.4	$ 620.4
Basic weighted average outstanding shares (in shares)	124.4	128.4	126.5	128.5
Effect of dilutive securities
Stock options (in shares)	1.2	1.2	1.4	1.2
Performance shares (in shares)	0.2	0.3	0.2	0.3
Diluted weighted average outstanding shares (in shares)	125.8	129.9	128.1	130
Earnings per share:
Basic (in usd per share)	$ 1.60	$ 1.69	$ 1.50	$ 4.83
Diluted (in usd per share)	$ 1.58	$ 1.67	$ 1.48	$ 4.77

Share-Based Compensation (Detai

Share-Based Compensation (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Share-Based Compensation (Textual) [Abstract]
Pre-tax share-based compensation expense	$ 9.9	$ 9.2	$ 28.6	$ 29.4
Stock options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants (in shares)			865	1,001
Wtd. Avg. Share Fair Value (usd per share)			$ 35.46	$ 25.49
Performance shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants (in shares)			40	42
Wtd. Avg. Share Fair Value (usd per share)			$ 219.04	$ 174.37
Restricted stock and restricted stock units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants (in shares)			45	51
Wtd. Avg. Share Fair Value (usd per share)			$ 188.98	$ 138.35
Unrestricted stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants (in shares)			7	8
Wtd. Avg. Share Fair Value (usd per share)			$ 183.76	$ 128.35

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Jun. 30, 2018	Sep. 30, 2017
Inventories
Finished goods	$ 223.3	$ 218.7
Work in process	180.4	168
Raw materials	166.6	172
Inventories	$ 570.3	$ 558.7

Goodwill and Other Intangible36

Goodwill and Other Intangible Assets - Changes in Carrying Amount of Goodwill (Details) $ in Millions	9 Months Ended
	Jun. 30, 2018USD ($)
Goodwill
Balance at beginning of period	$ 1,077.7
Acquisition of business	6.8
Translation	(6)
Balance at end of period	1,078.5
Architecture & Software [Member]
Goodwill
Balance at beginning of period	417.2
Acquisition of business	6.8
Translation	(1)
Balance at end of period	423
Control Products & Solutions [Member]
Goodwill
Balance at beginning of period	660.5
Acquisition of business	0
Translation	(5)
Balance at end of period	$ 655.5

Goodwill and Other Intangible37

Goodwill and Other Intangible Assets - Other Intangible Assets (Details) - USD ($) $ in Millions	Jun. 30, 2018	Sep. 30, 2017
Other intangible assets
Amortized intangible assets, carrying amount	$ 455.4	$ 457.8
Amortized intangible assets, accumulated amortization	276.6	263.5
Amortized intangible assets, net	178.8	194.3
Total, carrying amount	499.1	501.5
Total, net	222.5	238
Goodwill and Other Intangible Assets (Textual) [Abstract]
Estimated amortization expense in 2018	27.6
Estimated amortization expense in 2019	24.6
Estimated amortization expense in 2020	21.8
Estimated amortization expense in 2021	20.9
Estimated amortization expense in 2022	19
Trademarks [Member]
Indefinite-lived Intangible Assets [Line Items]
Allen-Bradley® trademark not subject to amortization	43.7	43.7
Computer software products [Member]
Other intangible assets
Amortized intangible assets, carrying amount	190.9	194.8
Amortized intangible assets, accumulated amortization	115.2	113.2
Amortized intangible assets, net	75.7	81.6
Customer relationships [Member]
Other intangible assets
Amortized intangible assets, carrying amount	113.8	114.5
Amortized intangible assets, accumulated amortization	65.3	61.5
Amortized intangible assets, net	48.5	53
Technology [Member]
Other intangible assets
Amortized intangible assets, carrying amount	107.2	104.8
Amortized intangible assets, accumulated amortization	62.8	57.9
Amortized intangible assets, net	44.4	46.9
Trademarks [Member]
Other intangible assets
Amortized intangible assets, carrying amount	32.2	32.3
Amortized intangible assets, accumulated amortization	23.4	21.1
Amortized intangible assets, net	8.8	11.2
Other [Member]
Other intangible assets
Amortized intangible assets, carrying amount	11.3	11.4
Amortized intangible assets, accumulated amortization	9.9	9.8
Amortized intangible assets, net	$ 1.4	$ 1.6

Short-term Debt (Details)

Short-term Debt (Details) - USD ($)	Jul. 19, 2018	Jun. 30, 2018	Sep. 30, 2017
Short-term Debt [Line Items]
Commercial paper borrowings outstanding		$ 0	$ 350,000,000
Weighted average interest rate of commercial paper outstanding			1.26%
Current portion of long-term debt		$ 0	$ 250,000,000
Stated interest rate percentage			5.65%
Subsequent Event [Member]
Short-term Debt [Line Items]
Weighted average interest rate of commercial paper outstanding	2.19%
Securities Purchase Agreement [Member] | Commercial paper [Member] | Subsequent Event [Member]
Short-term Debt [Line Items]
Debt Instrument, Face Amount	$ 675,000,000

Other Current Liabilities - Sch

Other Current Liabilities - Schedule of Other Current Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2018	Sep. 30, 2017	Jun. 30, 2017	Sep. 30, 2016
Other current liabilities
Unrealized losses on foreign exchange contracts	$ 11.2	$ 31.3
Product warranty obligations	30	28.5	$ 27.2	$ 28
Taxes other than income taxes	39.3	42.7
Accrued interest	15.3	16.9
Dividends payable	113.3	0
Income taxes payable	55.5	32.6
Other	129.4	68.2
Other current liabilities	$ 394	$ 220.2

Product Warranty Obligations -

Product Warranty Obligations - Schedule of Changes in Product Warranty Obligations (Details) - USD ($) $ in Millions	9 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Changes in product warranty obligations
Balance at beginning of period	$ 28.5	$ 28
Accruals for warranties issued during the current period	19.2	19
Adjustments to pre-existing warranties	0.2	(1.5)
Settlements of warranty claims	(17.9)	(18.3)
Balance at end of period	$ 30	$ 27.2

Investments - Schedule of Avail

Investments - Schedule of Available-for-Sale Investments (Details) - USD ($) $ in Millions	Jun. 30, 2018	Sep. 30, 2017
Investment [Line Items]
Total	$ 734	$ 1,387.6
Certificates of deposit and time deposits [Member]
Investment [Line Items]
Total	477.9	1,005.3
Commercial paper [Member]
Investment [Line Items]
Total	0	20.3
Corporate debt securities [Member]
Investment [Line Items]
Total	160.3	199.4
Government securities [Member]
Investment [Line Items]
Total	65.8	116.8
Asset-backed securities [Member]
Investment [Line Items]
Total	$ 30	$ 45.8

Investments - Contractual Matur

Investments - Contractual Maturities (Details) - USD ($) $ in Millions	Jun. 30, 2018	Sep. 30, 2017
Investments [Abstract]
Less than one year	$ 548.6
Due in one to five years	185.4
Total	$ 734	$ 1,387.6

Investments - Investments Inclu

Investments - Investments Included Within Condensed Consolidated Balance Sheet (Details) - USD ($) $ in Millions	Jun. 30, 2018	Sep. 30, 2017
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total	$ 734	$ 1,387.6
Short-term Investments [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total	548.6	1,124.6
Other Assets [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total	$ 185.4	$ 263

Investments - Narrative (Detail

Investments - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	Jun. 30, 2018	Jun. 11, 2018	Jun. 30, 2018	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Subsidiary, Sale of Stock [Line Items]
Trading investment, unrealized gain (loss), common stock price variation				$ (7.3)	$ 0	$ (7.3)	$ 0
Trading investment, unrealized loss, valuation adjustment				69.5	$ 0	69.5	$ 0
Forward Contracts [Member]
Subsidiary, Sale of Stock [Line Items]
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value	$ 76.8	$ 96.1	$ 76.8	$ 76.8		$ 76.8
Trading investment, unrealized gain (loss)	76.8	96.1	(19.3)
Trading investment, unrealized gain (loss), common stock price variation	(7.3)	(28.1)	20.8
Trading investment, unrealized loss, valuation adjustment	$ 69.5	$ 68	$ 1.5
Private Placement [Member] | ROCKWELL AUTOMATION INC. [Member] | PTC [Member]
Subsidiary, Sale of Stock [Line Items]
Number of shares purchased (in shares)		10,582,010
Purchase of stock price (usd per share)		$ 94.50
Consideration paid to purchase stock		$ 1,000
Purchase of stock purchase period		3 years
Sale of stock, subsequent trading period		90 days
Private Placement [Member] | ROCKWELL AUTOMATION INC. [Member] | PTC [Member] | Minimum [Member]
Subsidiary, Sale of Stock [Line Items]
Percentage of total outstanding common stock, that can be traded in future periods		1.00%
Private Placement [Member] | ROCKWELL AUTOMATION INC. [Member] | PTC [Member] | Maximum [Member]
Subsidiary, Sale of Stock [Line Items]
Percentage of total outstanding common stock, that can be traded in future periods		2.00%

Investments - Fair Values of In

Investments - Fair Values of Investments (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Millions	Jun. 30, 2018	Sep. 30, 2017
Assets
Total assets	$ 734	$ 1,387.6
Other current liabilities
Total liabilities	76.8
Certificates of deposit and time deposits [Member]
Assets
Available-for-sale securities	477.9	1,005.3
Commercial paper [Member]
Assets
Available-for-sale securities	0	20.3
Corporate debt securities [Member]
Assets
Available-for-sale securities	160.3	199.4
Government securities [Member]
Assets
Available-for-sale securities	65.8	116.8
Asset-backed securities [Member]
Assets
Available-for-sale securities	30	45.8
Fair Value, Inputs, Level 1 [Member]
Assets
Total assets	55.7	98.9
Other current liabilities
Total liabilities	0
Fair Value, Inputs, Level 1 [Member] | Certificates of deposit and time deposits [Member]
Assets
Available-for-sale securities	0	0
Fair Value, Inputs, Level 1 [Member] | Commercial paper [Member]
Assets
Available-for-sale securities	0	0
Fair Value, Inputs, Level 1 [Member] | Corporate debt securities [Member]
Assets
Available-for-sale securities	0	0
Fair Value, Inputs, Level 1 [Member] | Government securities [Member]
Assets
Available-for-sale securities	55.7	98.9
Fair Value, Inputs, Level 1 [Member] | Asset-backed securities [Member]
Assets
Available-for-sale securities	0	0
Fair Value, Inputs, Level 2 [Member]
Assets
Total assets	678.3	1,288.7
Other current liabilities
Total liabilities	0
Fair Value, Inputs, Level 2 [Member] | Certificates of deposit and time deposits [Member]
Assets
Available-for-sale securities	477.9	1,005.3
Fair Value, Inputs, Level 2 [Member] | Commercial paper [Member]
Assets
Available-for-sale securities	0	20.3
Fair Value, Inputs, Level 2 [Member] | Corporate debt securities [Member]
Assets
Available-for-sale securities	160.3	199.4
Fair Value, Inputs, Level 2 [Member] | Government securities [Member]
Assets
Available-for-sale securities	10.1	17.9
Fair Value, Inputs, Level 2 [Member] | Asset-backed securities [Member]
Assets
Available-for-sale securities	30	45.8
Fair Value, Inputs, Level 3 [Member]
Assets
Total assets	0	0
Other current liabilities
Total liabilities	76.8
Fair Value, Inputs, Level 3 [Member] | Certificates of deposit and time deposits [Member]
Assets
Available-for-sale securities	0	0
Fair Value, Inputs, Level 3 [Member] | Commercial paper [Member]
Assets
Available-for-sale securities	0	0
Fair Value, Inputs, Level 3 [Member] | Corporate debt securities [Member]
Assets
Available-for-sale securities	0	0
Fair Value, Inputs, Level 3 [Member] | Government securities [Member]
Assets
Available-for-sale securities	0	0
Fair Value, Inputs, Level 3 [Member] | Asset-backed securities [Member]
Assets
Available-for-sale securities	0	$ 0
Forward Contracts [Member]
Other current liabilities
Forward contract	76.8
Forward Contracts [Member] | Fair Value, Inputs, Level 1 [Member]
Other current liabilities
Forward contract	0
Forward Contracts [Member] | Fair Value, Inputs, Level 2 [Member]
Other current liabilities
Forward contract	0
Forward Contracts [Member] | Fair Value, Inputs, Level 3 [Member]
Other current liabilities
Forward contract	$ 76.8

Investments - Schedule of Chang

Investments - Schedule of Changes in the Fair Value of Level 3 Investments (Details) - Forward Contracts [Member] $ in Millions	1 Months Ended
	Jun. 30, 2018USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Unrealized gains	$ 19.3
Balance June 30, 2018	$ (76.8)

Retirement Benefits - Component

Retirement Benefits - Components of Net Periodic Benefit Cost (Income) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Pension Benefits [Member]
Components of net periodic benefit cost (income)
Service cost	$ 22.2	$ 24.2	$ 66.8	$ 72.5
Interest cost	38.8	37.8	116.6	113.4
Expected return on plan assets	(61.2)	(56.2)	(183.9)	(168.6)
Amortization:
Prior service cost (credit)	0.1	(0.9)	0.4	(2.8)
Net actuarial loss	28.3	38.2	85	114.4
Settlements	0	0	0	0.2
Net periodic benefit cost	28.2	43.1	84.9	129.1
Other Postretirement Benefits [Member]
Components of net periodic benefit cost (income)
Service cost	0.4	0.3	1	1
Interest cost	0.6	0.7	1.8	1.9
Amortization:
Prior service cost (credit)	(1.4)	(1.5)	(4.1)	(4.5)
Net actuarial loss	0.4	0.6	1.3	1.7
Net periodic benefit cost	$ 0	$ 0.1	$ 0	$ 0.1

Accumulated Other Comprehensi48

Accumulated Other Comprehensive Loss - Changes in Accumulated Other Comprehensive Loss by Component (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period			$ 2,663.6
Other comprehensive income (loss) before reclassifications	$ (81.4)	$ 21	(33)	$ 5.7
Amounts reclassified from accumulated other comprehensive loss	22.4	23.3	71.7	69.4
Other comprehensive income (loss)	(59)	44.3	38.7	75.1
Balance at end of period	1,444.2		1,444.2
Pension and other postretirement benefit plan adjustments [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(886.6)	(1,191.5)	(927)	(1,239.8)
Other comprehensive income (loss) before reclassifications	0	0	0	0.7
Amounts reclassified from accumulated other comprehensive loss	20.2	23.8	60.6	71.4
Other comprehensive income (loss)	20.2	23.8	60.6	72.1
Balance at end of period	(866.4)	(1,167.7)	(866.4)	(1,167.7)
Accumulated currency translation adjustments [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(177.3)	(320.3)	(237.7)	(294.9)
Other comprehensive income (loss) before reclassifications	(95.7)	24.9	(35.3)	(0.5)
Amounts reclassified from accumulated other comprehensive loss	0	0	0	0
Other comprehensive income (loss)	(95.7)	24.9	(35.3)	(0.5)
Balance at end of period	(273)	(295.4)	(273)	(295.4)
Net unrealized gains (losses) on cash flow hedges [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(14.9)	3.9	(14.4)	(4.1)
Other comprehensive income (loss) before reclassifications	14.2	(3.9)	4.8	5.6
Amounts reclassified from accumulated other comprehensive loss	2.2	(0.5)	11.1	(2)
Other comprehensive income (loss)	16.4	(4.4)	15.9	3.6
Balance at end of period	1.5	(0.5)	1.5	(0.5)
Net unrealized gains (losses) on available-for-sale investments [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(2.7)	(0.1)	(0.1)	0
Other comprehensive income (loss) before reclassifications	0.1	0	(2.5)	(0.1)
Amounts reclassified from accumulated other comprehensive loss	0	0	0	0
Other comprehensive income (loss)	0.1	0	(2.5)	(0.1)
Balance at end of period	(2.6)	(0.1)	(2.6)	(0.1)
Total accumulated other comprehensive loss [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(1,081.5)	(1,508)	(1,179.2)	(1,538.8)
Balance at end of period	$ (1,140.5)	$ (1,463.7)	$ (1,140.5)	$ (1,463.7)

Accumulated Other Comprehensi49

Accumulated Other Comprehensive Loss - Reclassifications out of Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income before income taxes	$ 251.7	$ 276	$ 849.1	$ 763.9
Income tax provision	(53.1)	(59.1)	(659.5)	(142.8)
Sales	(1,698.7)	(1,599.2)	(4,936.5)	(4,643.8)
Cost of sales	(957)	(921.5)	(2,796.9)	(2,667.3)
Selling, general and administrative expenses	(402.2)	(386.8)	(1,180.7)	(1,166)
Reclassification out of accumulated other comprehensive loss [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net income	22.4	23.3	71.7	69.4
Pension and other postretirement benefit plan adjustments [Member] | Reclassification out of accumulated other comprehensive loss [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income before income taxes	27.4	36.4	82.6	109
Income tax provision	(7.2)	(12.6)	(22)	(37.6)
Net income	20.2	23.8	60.6	71.4
Amortization of prior service credit [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income before income taxes	(1.3)	(2.4)	(3.7)	(7.3)
Amortization of net actuarial loss [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income before income taxes	28.7	38.8	86.3	116.1
Settlements [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income before income taxes	0	0	0	0.2
Accumulated net gain (loss) from cash flow hedges including portion attributable to noncontrolling interest [Member] | Reclassification out of accumulated other comprehensive loss [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income before income taxes	3	(0.8)	15	(2.3)
Income tax provision	(0.8)	0.3	(3.9)	0.3
Net income	2.2	(0.5)	11.1	(2)
Accumulated net gain (loss) from cash flow hedges including portion attributable to noncontrolling interest [Member] | Foreign exchange contracts [Member] | Reclassification out of accumulated other comprehensive loss [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Sales	0.2	0.7	1.5	(0.8)
Cost of sales	3.4	(0.2)	17.7	(3.8)
Selling, general and administrative expenses	$ (0.2)	$ 0.1	$ (1.2)	$ 0.7

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Income Tax Contingency [Line Items]
U.S. statutory rate	24.53%		2453.00%
Effective income tax rate	21.10%	21.40%	77.70%	18.70%
Effective income tax rate reconciliation, effect of tax cuts and jobs act of 2017, amount			$ 483.7
Effective income tax rate reconciliation, effect of tax cuts and jobs act of 2017, percent			57.00%
Tax adjustments, settlements, and unusual provisions			$ 94.2
Effective income tax rate reconciliation, repatriation of foreign earnings, amount	$ (7.5)		389.5
Tax Cuts and Jobs Act of 2017, incomplete accounting, transition tax for accumulated foreign earnings, provisional liability	389.5		$ 389.5
Transition tax percentage, cash assets			15.50%
Transition tax assets, non-cash assets			8.00%
Deferred tax liabilities, deferred expense	59.8		$ 59.8
Deferred tax assets, deferred income	59.8		59.8
Gross unrecognized tax benefits	19.4		19.4			$ 31.1
Accrued interest and penalties related to unrecognized tax benefits	3.7		3.7			$ 4
Reasonably possible amount of reduction in gross unrecognized tax benefits for the next twelve months	5.1		5.1
Reasonably possible amount of net reduction to income tax provision if unrecognized tax benefits were recognized	4.5		$ 4.5
Earliest open year for income tax examinations, U.S. federal			2,016
Earliest open tax year for income tax examinations, state, local and non-U.S.			2,003
Other Current Liabilities [Member]
Income Tax Contingency [Line Items]
Tax Cuts and Jobs Act of 2017, incomplete accounting, transition tax for accumulated foreign earnings, provisional liability	34.1		$ 34.1
Other Liabilities [Member]
Income Tax Contingency [Line Items]
Tax Cuts and Jobs Act of 2017, incomplete accounting, transition tax for accumulated foreign earnings, provisional liability	$ 355.4		$ 355.4
Scenario, Forecast [Member]
Income Tax Contingency [Line Items]
U.S. statutory rate					24.53%

Business Segment Information -

Business Segment Information - Sales and Operating Results of Reportable Segments (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Jun. 30, 2018	Dec. 31, 2017	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Sales and operating results of reportable segments
Sales	$ 1,698.7		$ 1,599.2	$ 4,936.5	$ 4,643.8
Purchase accounting depreciation and amortization	(4.3)		(5.6)	(13.2)	(16.8)
General corporate – net	(27.7)		(16.5)	(61.7)	(52.8)
Non-operating pension costs	(5.9)		(19.8)	(17.7)	(59.4)
Costs related to unsolicited Emerson proposals	0		0	(11.2)	0
Loss on investments	(7.3)		0	(7.3)	0
Valuation adjustment pending registration of PTC securities	(69.5)		0	(69.5)	0
Interest expense	(16.5)		(19.1)	(53.8)	(56.7)
Income before income taxes	251.7		276	849.1	763.9
Third-party advisory fees		$ 11.2
Operating Segments [Member]
Sales and operating results of reportable segments
Sales	1,698.7		1,599.2	4,936.5	4,643.8
Segment operating earnings	382.9		337	1,083.5	949.6
Architecture & Software [Member] | Operating Segments [Member]
Sales and operating results of reportable segments
Sales	795.7		731.9	2,311	2,147.3
Segment operating earnings	239		204.3	681.8	603.5
Control Products & Solutions [Member] | Operating Segments [Member]
Sales and operating results of reportable segments
Sales	903		867.3	2,625.5	2,496.5
Segment operating earnings	$ 143.9		$ 132.7	$ 401.7	$ 346.1