Document_and_Entity_Informatio
Document and Entity Information Document | 3 Months Ended | |
Dec. 31, 2014 | Jan. 31, 2015 | |
Entity Information [Line Items] | ||
Entity Registrant Name | EMERSON ELECTRIC CO | |
Entity Central Index Key | 32604 | |
Current Fiscal Year End Date | -21 | |
Entity Filer Category | Large Accelerated Filer | |
Document Type | 10-Q | |
Document Period End Date | 31-Dec-14 | |
Document Fiscal Year Focus | 2015 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | FALSE | |
Entity Common Stock, Shares Outstanding | 685,201,890 |
Consolidated_Statements_Of_Ear
Consolidated Statements Of Earnings (USD $) | 3 Months Ended | |
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Net sales | $5,587 | $5,606 |
Costs and expenses: | ||
Cost of sales | 3,307 | 3,370 |
Selling, general and administrative expenses | 1,405 | 1,444 |
Other deductions, net | 64 | 95 |
Interest expense (net of interest income of $7 and $7, respectively) | 46 | 54 |
Earnings before income taxes | 765 | 643 |
Income taxes | 236 | 166 |
Net earnings | 529 | 477 |
Less: Noncontrolling interests in earnings of subsidiaries | 4 | 15 |
Net earnings common stockholders | $525 | $462 |
Basic earnings per share common stockholders | $0.76 | $0.65 |
Diluted earnings per share common stockholders | $0.75 | $0.65 |
Cash dividends per common share | $0.47 | $0.43 |
Consolidated_Statements_Of_Ear1
Consolidated Statements Of Earnings (Parenthetical) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Income Statement [Abstract] | ||
Interest income | $7 | $7 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Net earnings | $529 | $477 |
Other comprehensive income (loss), net of tax: | ||
Foreign currency translation | -305 | 15 |
Pension and postretirement | 28 | 23 |
Cash flow hedges | -24 | 3 |
Total other comprehensive income (loss) | -301 | 41 |
Comprehensive income | 228 | 518 |
Less: Noncontrolling interests in comprehensive income of subsidiaries | 3 | 13 |
Comprehensive income common stockholders | $225 | $505 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2014 | Sep. 30, 2014 |
In Millions, unless otherwise specified | ||
Current assets | ||
Cash and equivalents | $3,122 | $3,149 |
Receivables, less allowances of $106 and $114, respectively | 4,404 | 5,019 |
Inventories | 2,121 | 2,057 |
Other current assets | 836 | 642 |
Total current assets | 10,483 | 10,867 |
Property, plant and equipment, net | 3,631 | 3,802 |
Other assets | ||
Goodwill | 6,940 | 7,182 |
Other intangible assets | 1,649 | 1,689 |
Other | 1,021 | 637 |
Total other assets | 9,610 | 9,508 |
Total assets | 23,724 | 24,177 |
Current liabilities | ||
Short-term borrowings and current maturities of long-term debt | 3,484 | 2,465 |
Accounts payable | 2,468 | 2,951 |
Accrued expenses | 2,640 | 2,876 |
Income taxes | 285 | 162 |
Total current liabilities | 8,877 | 8,454 |
Long-term debt | 3,289 | 3,559 |
Other liabilities | 2,002 | 1,997 |
Equity | ||
Common stock, $0.50 par value; authorized, 1,200,000,000 shares; issued, 953,354,012 shares; outstanding, 688,677,106 shares and 696,605,222 shares, respectively | 477 | 477 |
Additional paid-in-capital | 162 | 161 |
Retained earnings | 20,066 | 19,867 |
Accumulated other comprehensive income (loss) | -875 | -575 |
Cost of common stock in treasury, 264,676,906 shares and 256,748,790 shares, respectively | -10,317 | -9,811 |
Common stockholders' equity | 9,513 | 10,119 |
Noncontrolling interests in subsidiaries | 43 | 48 |
Total equity | 9,556 | 10,167 |
Total liabilities and equity | $23,724 | $24,177 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2014 | Sep. 30, 2014 |
In Millions, except Share data, unless otherwise specified | ||
Statement of Financial Position [Abstract] | ||
Allowance for doubtful accounts receivable | $106 | $114 |
Common stock, par value per share | $0.50 | $0.50 |
Common stock, shares authorized | 1,200,000,000 | 1,200,000,000 |
Common stock, shares issued | 953,354,012 | 953,354,012 |
Common stock, shares outstanding | 688,677,106 | 696,605,222 |
Treasury stock, shares | 264,676,906 | 256,748,790 |
Consolidated_Statements_Of_Cas
Consolidated Statements Of Cash Flows (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Operating activities | ||
Net earnings | $529 | $477 |
Adjustments to reconcile net earnings to net cash provided by operating activities: | ||
Depreciation and amortization | 207 | 209 |
Changes in operating working capital | -192 | -54 |
Other, net | 27 | 59 |
Net cash provided by operating activities | 571 | 691 |
Investing activities | ||
Capital expenditures | -207 | -236 |
Purchases of businesses, net of cash and equivalents acquired | -143 | -576 |
Divestiture of business | 0 | 268 |
Other, net | -26 | -11 |
Net cash used by investing activities | -376 | -555 |
Financing activities | ||
Net increase (decrease) in short-term borrowings | -227 | 320 |
Proceeds from short-term borrowings greater than three months | 1,957 | 396 |
Payments of short-term borrowings greater than three months | -731 | -329 |
Payments of long-term debt | -251 | -314 |
Dividends paid | -326 | -304 |
Purchases of common stock | -509 | -390 |
Other, net | -59 | -54 |
Net cash used by financing activities | -146 | -675 |
Effect of exchange rate changes on cash and equivalents | -76 | 1 |
Increase (decrease) in cash and equivalents | -27 | -538 |
Beginning cash and equivalents | 3,149 | 3,275 |
Ending cash and equivalents | 3,122 | 2,737 |
Changes in operating working capital | ||
Receivables | 434 | 446 |
Inventories | -195 | -161 |
Other current assets | -17 | 25 |
Accounts payable | -277 | -151 |
Accrued expenses | -261 | -298 |
Income taxes | 124 | 85 |
Changes in operating working capital | ($192) | ($54) |
Summary_of_Significant_Account
Summary of Significant Accounting Policies Summary of Significant Accounting Policies | 3 Months Ended | |
Dec. 31, 2014 | ||
Summary of Significant Accounting Policies [Abstract] | ||
Basis of Presentation And Recently Issued Accounting Pronouncements | ||
In the opinion of management, the accompanying unaudited consolidated financial statements include all adjustments necessary for a fair presentation of operating results for the interim periods presented. Adjustments consist of normal and recurring accruals. The consolidated financial statements are presented in accordance with the requirements of Form 10-Q and consequently do not include all disclosures required for annual financial statements presented in conformity with U.S. generally accepted accounting principles (GAAP). For further information, refer to the consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended September 30, 2014. Certain prior year amounts have been reclassified to conform with current year presentation. | ||
In the first quarter of 2015, the Company adopted updates to ASC 205, Presentation of Financial Statements, and ASC 360, Property, Plant and Equipment, regarding the reporting of discontinued operations. These updates raised the threshold for reporting discontinued operations to a strategic business shift having a major effect on an entity's operations and financial results. The updates also added disclosures for disposals of business units qualifying for discontinued presentation, and for some dispositions that do not qualify as discontinued operations but are still considered individually significant components of the entity. |
Weighted_Average_Common_Shares
Weighted Average Common Shares | 3 Months Ended | |||||
Dec. 31, 2014 | ||||||
Weighted Average Number of Shares Outstanding Reconciliation [Abstract] | ||||||
Weighted Average Common Shares | ||||||
Reconciliations of weighted average shares for basic and diluted earnings per common share follow (in millions). Earnings allocated to participating securities were inconsequential. | ||||||
Three Months Ended | ||||||
December 31, | ||||||
2013 | 2014 | |||||
Basic shares outstanding | 703.5 | 691.4 | ||||
Dilutive shares | 4.6 | 3.3 | ||||
Diluted shares outstanding | 708.1 | 694.7 | ||||
Other_Financial_Information
Other Financial Information | 3 Months Ended | ||||||
Dec. 31, 2014 | |||||||
Disclosure Text Block [Abstract] | |||||||
Other Financial Information | |||||||
Other Financial Information (in millions): | |||||||
30-Sep-14 | 31-Dec-14 | ||||||
Inventories | |||||||
Finished products | $ | 741 | 767 | ||||
Raw materials and work in process | 1,316 | 1,354 | |||||
Total | $ | 2,057 | 2,121 | ||||
Property, plant and equipment, net | |||||||
Property, plant and equipment, at cost | $ | 9,411 | 8,986 | ||||
Less: Accumulated depreciation | 5,609 | 5,355 | |||||
Total | $ | 3,802 | 3,631 | ||||
30-Sep-14 | 31-Dec-14 | ||||||
Goodwill by business segment | |||||||
Process Management | $ | 2,701 | 2,740 | ||||
Industrial Automation | 1,329 | 1,079 | |||||
Network Power | 2,218 | 2,193 | |||||
Climate Technologies | 500 | 497 | |||||
Commercial & Residential Solutions | 434 | 431 | |||||
Total | $ | 7,182 | 6,940 | ||||
The change in goodwill since September 30, 2014 is primarily due to classifying the power transmission solutions business (reported in the Industrial Automation segment) as held-for-sale as of December 31, 2014. See Note 11. | |||||||
30-Sep-14 | 31-Dec-14 | ||||||
Accrued expenses include the following | |||||||
Employee compensation | $ | 705 | 517 | ||||
Customer advanced payments | $ | 455 | 456 | ||||
Product warranty | $ | 193 | 184 | ||||
Other liabilities | |||||||
Pension plans | $ | 564 | 551 | ||||
Deferred income taxes | 572 | 555 | |||||
Postretirement plans, excluding current portion | 233 | 232 | |||||
Other | 628 | 664 | |||||
Total | $ | 1,997 | 2,002 | ||||
Financial_Instruments
Financial Instruments | 3 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||||||||||||||||
Financial Instruments | ||||||||||||||||
Following is a discussion regarding the Company’s use of financial instruments: | ||||||||||||||||
Hedging Activities – As of December 31, 2014, the notional amount of foreign currency hedge positions was approximately $1.8 billion, while commodity hedge contracts totaled approximately 80 million pounds ($224 million) of copper and aluminum. All derivatives receiving deferral accounting are cash flow hedges. The majority of hedging gains and losses deferred as of December 31, 2014 are expected to be recognized over the next 12 months as the underlying forecasted transactions occur. Gains and losses on foreign currency derivatives reported in other deductions, net reflect hedges of balance sheet exposures that do not receive deferral accounting. The following gains and losses are included in earnings and other comprehensive income (OCI) for the three months ended December 31, 2014 and 2013 (in millions): | ||||||||||||||||
Into Earnings | Into OCI | |||||||||||||||
1st Quarter | 1st Quarter | |||||||||||||||
Gains (Losses) | Location | 2013 | 2014 | 2013 | 2014 | |||||||||||
Commodity | Cost of sales | $ | (3 | ) | (2 | ) | 2 | (12 | ) | |||||||
Foreign currency | Sales, cost of sales | 2 | (1 | ) | 1 | (31 | ) | |||||||||
Foreign currency | Other deductions, net | (2 | ) | (17 | ) | |||||||||||
Total | $ | (3 | ) | (20 | ) | 3 | (43 | ) | ||||||||
Regardless of whether derivatives receive deferral accounting, the Company expects hedging gains or losses to be essentially offset by losses or gains on the related underlying exposures. The amounts ultimately recognized will differ from those presented above for open positions, which remain subject to ongoing market price fluctuations until settlement. Derivatives receiving deferral accounting are highly effective and no amounts were excluded from the assessment of hedge effectiveness. Hedge ineffectiveness was immaterial for the three months ended December 31, 2014 and 2013. | ||||||||||||||||
Fair Value Measurement – Valuations for all derivatives and the Company's long-term debt fall within Level 2 of the GAAP valuation hierarchy. As of December 31, 2014, the fair value of long-term debt was $4,280 million, which exceeded the carrying value by $449 million. At December 31, 2014, the fair values of commodity contracts and foreign currency contracts were reported in other current assets and accrued expenses. Valuations of derivative contract positions are summarized below (in millions): | ||||||||||||||||
September 30, 2014 | December 31, 2014 | |||||||||||||||
Assets | Liabilities | Assets | Liabilities | |||||||||||||
Foreign Currency | $ | 32 | 20 | 31 | 57 | |||||||||||
Commodity | $ | 1 | 10 | — | 19 | |||||||||||
Counterparties to derivatives arrangements are companies with high credit ratings. The Company has bilateral collateral arrangements with counterparties with credit rating-based posting thresholds that vary depending on the arrangement. If credit ratings on the Company's debt fall below preestablished levels, counterparties can require immediate full collateralization of all derivatives in net liability positions. The Company can demand full collateralization of derivatives in net asset positions should any counterparty credit ratings fall below certain thresholds. No collateral was posted with counterparties and none was held by the Company as of December 31, 2014. The maximum collateral that could have been required was $49 million. |
Equity_Roll_Forward
Equity Roll Forward | 3 Months Ended | |||||||||
Dec. 31, 2014 | ||||||||||
Equity [Abstract] | ||||||||||
Equity | ||||||||||
The change in equity for the first three months of 2015 is shown below (in millions): | ||||||||||
Common | Noncontrolling Interests in Subsidiaries | Total Equity | ||||||||
Stockholders' | ||||||||||
Equity | ||||||||||
Balance at September 30, 2014 | $ | 10,119 | 48 | 10,167 | ||||||
Net earnings | 525 | 4 | 529 | |||||||
Other comprehensive income (loss) | (300 | ) | (1 | ) | (301 | ) | ||||
Cash dividends | (326 | ) | (8 | ) | (334 | ) | ||||
Net purchases of common stock | (505 | ) | — | (505 | ) | |||||
Balance at December 31, 2014 | $ | 9,513 | 43 | 9,556 | ||||||
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Income Accumulated Other Comprehensive Income | 3 Months Ended | ||||||
Dec. 31, 2014 | |||||||
Accumulated Other Comprehensive Income [Abstract] | |||||||
Comprehensive Income (Loss) | Activity in accumulated other comprehensive income (loss) for the three months ended December 31, 2013 and December 31, 2014 is shown below (in millions): | ||||||
Three Months Ended | |||||||
December 31, | |||||||
2013 | 2014 | ||||||
Foreign currency translation | |||||||
Beginning balance | $ | 504 | 171 | ||||
Other comprehensive income (loss) | 17 | (304 | ) | ||||
Ending balance | 521 | (133 | ) | ||||
Pension and postretirement | |||||||
Beginning balance | (692 | ) | (746 | ) | |||
Amortization of deferred actuarial losses into earnings | 23 | 28 | |||||
Ending balance | (669 | ) | (718 | ) | |||
Cash flow hedges | |||||||
Beginning balance | (1 | ) | — | ||||
Deferral of gains (losses) arising during the period | 2 | (26 | ) | ||||
Reclassification of realized (gain) loss to sales and cost of sales | 1 | 2 | |||||
Ending balance | 2 | (24 | ) | ||||
Accumulated other comprehensive income (loss) | $ | (146 | ) | (875 | ) | ||
Activity above is shown net of income taxes for the three months ended December 31, 2013 and 2014, respectively, as follows: amortization of pension and postretirement deferred actuarial losses: $(13) and $(15); deferral of cash flow hedging gains (losses): $(1) and $17; reclassification of realized cash flow hedging (gains) losses: $0 and $(1). |
Pension_Postretirement_Expense
Pension & Postretirement Expenses | 3 Months Ended | ||||||
Dec. 31, 2014 | |||||||
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract] | |||||||
Pension And Postretirement Plan Expenses | Total periodic pension and postretirement expense is summarized below (in millions): | ||||||
Three Months Ended | |||||||
December 31, | |||||||
2013 | 2014 | ||||||
Service cost | $ | 24 | 27 | ||||
Interest cost | 62 | 60 | |||||
Expected return on plan assets | (86 | ) | (92 | ) | |||
Net amortization | 36 | 43 | |||||
Total | $ | 36 | 38 | ||||
Other_Deductions_Net
Other Deductions, Net | 3 Months Ended | ||||||
Dec. 31, 2014 | |||||||
Other Income and Expenses [Abstract] | |||||||
Other Deductions, Net | |||||||
Other deductions, net are summarized below (in millions): | |||||||
Three Months Ended | |||||||
December 31, | |||||||
2013 | 2014 | ||||||
Amortization of intangibles | $ | 57 | 55 | ||||
Rationalization of operations | 13 | 9 | |||||
Other | 25 | — | |||||
Total | $ | 95 | 64 | ||||
The decrease in other for the first quarter is primarily due to a favorable foreign currency impact of $19 million, resulting from gains in the current year due to the strength of the U.S. dollar, compared to losses in the prior year. |
Rationalization_Of_Operations
Rationalization Of Operations | 3 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Restructuring and Related Activities [Abstract] | |||||||||||||
Rationalization Of Operations | Rationalization of operations expense reflects costs associated with the Company’s ongoing efforts to improve operational efficiency and deploy assets globally in order to remain competitive on a worldwide basis. Details of the change in the liability for rationalization during the three months ended December 31, 2014 follow (in millions): | ||||||||||||
30-Sep-14 | Expense | Paid/Utilized | 31-Dec-14 | ||||||||||
Severance and benefits | $ | 20 | 5 | 6 | 19 | ||||||||
Lease and other contract terminations | 1 | — | 1 | — | |||||||||
Vacant facility and other shutdown costs | — | 1 | — | 1 | |||||||||
Start-up and moving costs | 1 | 3 | 4 | — | |||||||||
Total | $ | 22 | 9 | 11 | 20 | ||||||||
Rationalization of operations expense by segment is provided below (in millions): | |||||||||||||
Three Months Ended | |||||||||||||
December 31, | |||||||||||||
2013 | 2014 | ||||||||||||
Process Management | $ | 3 | 3 | ||||||||||
Industrial Automation | 2 | 2 | |||||||||||
Network Power | 4 | 1 | |||||||||||
Climate Technologies | 3 | 2 | |||||||||||
Commercial & Residential Solutions | 1 | 1 | |||||||||||
Total | $ | 13 | 9 | ||||||||||
The Company expects to incur full year 2015 rationalization expense of approximately $100 million. This includes the $9 million incurred to date, as well as costs to complete actions initiated before the end of the first quarter and actions anticipated to be approved and initiated during the remainder of the year. First quarter costs largely relate to deployment of resources to higher growth regions and to directly serve local markets. |
Business_Segment_Information
Business Segment Information | 3 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Segment Reporting [Abstract] | |||||||||||||
Segment Reporting | |||||||||||||
Summarized information about the Company's results of operations by business segment follows (in millions): | |||||||||||||
Three Months Ended December 31, | |||||||||||||
Sales | Earnings | ||||||||||||
2013 | 2014 | 2013 | 2014 | ||||||||||
Process Management | $ | 2,041 | 2,099 | 373 | 392 | ||||||||
Industrial Automation | 1,149 | 1,152 | 162 | 164 | |||||||||
Network Power | 1,303 | 1,119 | 83 | 79 | |||||||||
Climate Technologies | 786 | 900 | 107 | 126 | |||||||||
Commercial & Residential Solutions | 466 | 480 | 100 | 103 | |||||||||
5,745 | 5,750 | 825 | 864 | ||||||||||
Differences in accounting methods | 57 | 58 | |||||||||||
Corporate and other | (185 | ) | (111 | ) | |||||||||
Eliminations/Interest | (139 | ) | (163 | ) | (54 | ) | (46 | ) | |||||
Total | $ | 5,606 | 5,587 | 643 | 765 | ||||||||
Industrial Automation intersegment sales for the three months ended December 31, 2014 and 2013 were $145 million and $116 million, respectively. The decrease in corporate and other primarily reflects lower incentive stock compensation of $27 million, lower inventory costs of $20 million from purchase accounting, and a $30 million favorable comparative impact from accelerating 2014 charitable contributions into the first quarter of last year. |
Acquisitions_and_Divestitures
Acquisitions and Divestitures | 3 Months Ended | |
Dec. 31, 2014 | ||
Business Combinations [Abstract] | ||
Business Combinations Disclosure | ||
In the first quarter of 2015, the Company completed three acquisitions which are included in Process Management's measurement devices and systems and solutions businesses. Combined annualized sales for these businesses are approximately $32 million. Total cash paid for all businesses was $143 million, net of cash acquired. The Company recognized goodwill of $73 million ($42 million of which is expected to be tax deductible) and other intangible assets of $61 million, primarily customer relationships and intellectual property with a weighted-average life of approximately 11 years. | ||
In connection with its longer-term strategy to divest selected slower-growth businesses, on January 30, 2015 the Company completed the previously announced sale of its mechanical power transmission solutions business to Regal Beloit Corporation for approximately $1.4 billion. After-tax proceeds of approximately $1 billion are expected to be used for share repurchase. This business is reported in the Industrial Automation segment and had fiscal 2014 sales of $605 million and earnings before income taxes of $87 million. Assets and liabilities for this business were classified as held-for-sale in the consolidated balance sheet at December 31, 2014 as follows: other current assets, $180 million (accounts receivable, inventories, other); other assets, $377 million (property, plant and equipment, goodwill, other noncurrent assets); accrued expenses, $81 million (accounts payable and other current liabilities); and other liabilities, $16 million. The Company will recognize an after-tax gain of approximately $520 million from the sale, $0.75 per share. Power transmission solutions designs and manufactures market-leading couplings, bearings, conveying components and gearing and drive components, and provides supporting services and solutions. | ||
In the first quarter of 2014, the Company completed the divestiture of a 51 percent controlling interest in Artesyn and in the fourth quarter of 2014, the Company sold its connectivity solutions business. Both of these businesses had been reported in the Network Power segment. Consolidated operating results for the first quarter of 2014 include combined sales of $164 million and a pretax loss of $10 million (net loss, $8 million) for these businesses. |
Contingencies_Contingencies
Contingencies Contingencies | 3 Months Ended |
Dec. 31, 2014 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies Disclosure | On October 22, 2012, Invensys Systems, Inc. filed a suit for patent infringement against the Company and its wholly-owned indirect subsidiary, Micro Motion, Inc., in the Eastern District of Texas captioned Invensys Systems, Inc. v. Emerson Electric Co. and Micro Motion, Inc., USA. The complaint alleges infringement on Invensys patents by Micro Motion's Coriolis flowmeter "Enhanced Core Processors." The Invensys suit seeks damages of $182 million and an injunction preventing the Company and Micro Motion from engaging in future infringement. The Company filed a petition seeking a ruling that the Invensys patents are invalid and a U.S. Patent Office review is in process. It is too early in the litigation to assess any potential financial impact. The Company and Micro Motion believe that the Invensys claims are without merit and that they have strong defenses to the claims, and intend to aggressively defend the suit. |
Weighted_Average_Common_Shares1
Weighted Average Common Shares (Tables) | 3 Months Ended | |||||
Dec. 31, 2014 | ||||||
Weighted Average Number of Shares Outstanding Reconciliation [Abstract] | ||||||
Schedule Of Basic And Diluted Earnings Per Share Reconciliation | ||||||
Three Months Ended | ||||||
December 31, | ||||||
2013 | 2014 | |||||
Basic shares outstanding | 703.5 | 691.4 | ||||
Dilutive shares | 4.6 | 3.3 | ||||
Diluted shares outstanding | 708.1 | 694.7 | ||||
Other_Financial_Information_Ta
Other Financial Information (Tables) | 3 Months Ended | ||||||
Dec. 31, 2014 | |||||||
Disclosure Text Block [Abstract] | |||||||
Inventories | |||||||
30-Sep-14 | 31-Dec-14 | ||||||
Inventories | |||||||
Finished products | $ | 741 | 767 | ||||
Raw materials and work in process | 1,316 | 1,354 | |||||
Total | $ | 2,057 | 2,121 | ||||
Property, Plant And Equipment, Net | |||||||
Property, plant and equipment, net | |||||||
Property, plant and equipment, at cost | $ | 9,411 | 8,986 | ||||
Less: Accumulated depreciation | 5,609 | 5,355 | |||||
Total | $ | 3,802 | 3,631 | ||||
Goodwill By Business Segment | |||||||
30-Sep-14 | 31-Dec-14 | ||||||
Goodwill by business segment | |||||||
Process Management | $ | 2,701 | 2,740 | ||||
Industrial Automation | 1,329 | 1,079 | |||||
Network Power | 2,218 | 2,193 | |||||
Climate Technologies | 500 | 497 | |||||
Commercial & Residential Solutions | 434 | 431 | |||||
Total | $ | 7,182 | 6,940 | ||||
Accrued Expenses | |||||||
30-Sep-14 | 31-Dec-14 | ||||||
Accrued expenses include the following | |||||||
Employee compensation | $ | 705 | 517 | ||||
Customer advanced payments | $ | 455 | 456 | ||||
Product warranty | $ | 193 | 184 | ||||
Other Liabilities | |||||||
Other liabilities | |||||||
Pension plans | $ | 564 | 551 | ||||
Deferred income taxes | 572 | 555 | |||||
Postretirement plans, excluding current portion | 233 | 232 | |||||
Other | 628 | 664 | |||||
Total | $ | 1,997 | 2,002 | ||||
Financial_Instruments_Tables
Financial Instruments (Tables) | 3 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||||||||||||||||
Schedule Of Derivative Instruments | ||||||||||||||||
Into Earnings | Into OCI | |||||||||||||||
1st Quarter | 1st Quarter | |||||||||||||||
Gains (Losses) | Location | 2013 | 2014 | 2013 | 2014 | |||||||||||
Commodity | Cost of sales | $ | (3 | ) | (2 | ) | 2 | (12 | ) | |||||||
Foreign currency | Sales, cost of sales | 2 | (1 | ) | 1 | (31 | ) | |||||||||
Foreign currency | Other deductions, net | (2 | ) | (17 | ) | |||||||||||
Total | $ | (3 | ) | (20 | ) | 3 | (43 | ) | ||||||||
Fair Value Measurements | ||||||||||||||||
September 30, 2014 | December 31, 2014 | |||||||||||||||
Assets | Liabilities | Assets | Liabilities | |||||||||||||
Foreign Currency | $ | 32 | 20 | 31 | 57 | |||||||||||
Commodity | $ | 1 | 10 | — | 19 | |||||||||||
Equity_Roll_Forward_Tables
Equity Roll Forward (Tables) | 3 Months Ended | |||||||||
Dec. 31, 2014 | ||||||||||
Equity [Abstract] | ||||||||||
Schedule of Stockholders' Equity | ||||||||||
Common | Noncontrolling Interests in Subsidiaries | Total Equity | ||||||||
Stockholders' | ||||||||||
Equity | ||||||||||
Balance at September 30, 2014 | $ | 10,119 | 48 | 10,167 | ||||||
Net earnings | 525 | 4 | 529 | |||||||
Other comprehensive income (loss) | (300 | ) | (1 | ) | (301 | ) | ||||
Cash dividends | (326 | ) | (8 | ) | (334 | ) | ||||
Net purchases of common stock | (505 | ) | — | (505 | ) | |||||
Balance at December 31, 2014 | $ | 9,513 | 43 | 9,556 | ||||||
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Income (Tables) | 3 Months Ended | ||||||
Dec. 31, 2014 | |||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||||||
Schedule of Accumulated Other Comprehensive Income (Loss) | |||||||
Three Months Ended | |||||||
December 31, | |||||||
2013 | 2014 | ||||||
Foreign currency translation | |||||||
Beginning balance | $ | 504 | 171 | ||||
Other comprehensive income (loss) | 17 | (304 | ) | ||||
Ending balance | 521 | (133 | ) | ||||
Pension and postretirement | |||||||
Beginning balance | (692 | ) | (746 | ) | |||
Amortization of deferred actuarial losses into earnings | 23 | 28 | |||||
Ending balance | (669 | ) | (718 | ) | |||
Cash flow hedges | |||||||
Beginning balance | (1 | ) | — | ||||
Deferral of gains (losses) arising during the period | 2 | (26 | ) | ||||
Reclassification of realized (gain) loss to sales and cost of sales | 1 | 2 | |||||
Ending balance | 2 | (24 | ) | ||||
Accumulated other comprehensive income (loss) | $ | (146 | ) | (875 | ) | ||
Activity above is shown net of income taxes for the three months ended December 31, 2013 and 2014, respectively, as follows: amortization of pension and postretirement deferred actuarial losses: $(13) and $(15); deferral of cash flow hedging gains (losses): $(1) and $17; reclassification of realized cash flow hedging (gains) losses: $0 and $(1). |
Pension_Postretirement_Expense1
Pension & Postretirement Expenses (Tables) | 3 Months Ended | ||||||
Dec. 31, 2014 | |||||||
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract] | |||||||
Summary of Pension and Postretirement Plan Expenses | |||||||
Three Months Ended | |||||||
December 31, | |||||||
2013 | 2014 | ||||||
Service cost | $ | 24 | 27 | ||||
Interest cost | 62 | 60 | |||||
Expected return on plan assets | (86 | ) | (92 | ) | |||
Net amortization | 36 | 43 | |||||
Total | $ | 36 | 38 | ||||
Other_Deductions_Net_Tables
Other Deductions, Net (Tables) | 3 Months Ended | ||||||
Dec. 31, 2014 | |||||||
Other Income and Expenses [Abstract] | |||||||
Schedule of Other Deductions, net | |||||||
Three Months Ended | |||||||
December 31, | |||||||
2013 | 2014 | ||||||
Amortization of intangibles | $ | 57 | 55 | ||||
Rationalization of operations | 13 | 9 | |||||
Other | 25 | — | |||||
Total | $ | 95 | 64 | ||||
Rationalization_Of_Operations_
Rationalization Of Operations (Tables) | 3 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Restructuring and Related Activities [Abstract] | |||||||||||||
Change In Liability For Rationalization Costs | |||||||||||||
30-Sep-14 | Expense | Paid/Utilized | 31-Dec-14 | ||||||||||
Severance and benefits | $ | 20 | 5 | 6 | 19 | ||||||||
Lease and other contract terminations | 1 | — | 1 | — | |||||||||
Vacant facility and other shutdown costs | — | 1 | — | 1 | |||||||||
Start-up and moving costs | 1 | 3 | 4 | — | |||||||||
Total | $ | 22 | 9 | 11 | 20 | ||||||||
Rationalization Of Operations By Segment | |||||||||||||
Three Months Ended | |||||||||||||
December 31, | |||||||||||||
2013 | 2014 | ||||||||||||
Process Management | $ | 3 | 3 | ||||||||||
Industrial Automation | 2 | 2 | |||||||||||
Network Power | 4 | 1 | |||||||||||
Climate Technologies | 3 | 2 | |||||||||||
Commercial & Residential Solutions | 1 | 1 | |||||||||||
Total | $ | 13 | 9 | ||||||||||
Business_Segment_Information_T
Business Segment Information (Tables) | 3 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Segment Reporting [Abstract] | |||||||||||||
Results Of Operations By Business Segment | |||||||||||||
Three Months Ended December 31, | |||||||||||||
Sales | Earnings | ||||||||||||
2013 | 2014 | 2013 | 2014 | ||||||||||
Process Management | $ | 2,041 | 2,099 | 373 | 392 | ||||||||
Industrial Automation | 1,149 | 1,152 | 162 | 164 | |||||||||
Network Power | 1,303 | 1,119 | 83 | 79 | |||||||||
Climate Technologies | 786 | 900 | 107 | 126 | |||||||||
Commercial & Residential Solutions | 466 | 480 | 100 | 103 | |||||||||
5,745 | 5,750 | 825 | 864 | ||||||||||
Differences in accounting methods | 57 | 58 | |||||||||||
Corporate and other | (185 | ) | (111 | ) | |||||||||
Eliminations/Interest | (139 | ) | (163 | ) | (54 | ) | (46 | ) | |||||
Total | $ | 5,606 | 5,587 | 643 | 765 | ||||||||
Weighted_Average_Common_Shares2
Weighted Average Common Shares (Schedule Of Basic And Diluted Earnings Per Share Reconciliation) (Details) | 3 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Weighted Average Number of Shares Outstanding Reconciliation [Abstract] | ||
Basic shares outstanding | 691.4 | 703.5 |
Dilutive shares | 3.3 | 4.6 |
Diluted shares outstanding | 694.7 | 708.1 |
Other_Financial_Information_De
Other Financial Information (Details) (USD $) | Dec. 31, 2014 | Sep. 30, 2014 |
In Millions, unless otherwise specified | ||
Other Financial Information [Line Items] | ||
Finished products | $767 | $741 |
Raw materials and work in process | 1,354 | 1,316 |
Total | 2,121 | 2,057 |
Property, plant and equipment, at cost | 8,986 | 9,411 |
Less: Accumulated depreciation | 5,355 | 5,609 |
Total | 3,631 | 3,802 |
Goodwill | 6,940 | 7,182 |
Employee compensation | 517 | 705 |
Customer advanced payments | 456 | 455 |
Product warranty | 184 | 193 |
Pension plans | 551 | 564 |
Deferred income taxes | 555 | 572 |
Postretirement plans, excluding current portion | 232 | 233 |
Other | 664 | 628 |
Total | 2,002 | 1,997 |
Process Management [Member] | ||
Other Financial Information [Line Items] | ||
Goodwill | 2,740 | 2,701 |
Industrial Automation [Member] | ||
Other Financial Information [Line Items] | ||
Goodwill | 1,079 | 1,329 |
Network Power [Member] | ||
Other Financial Information [Line Items] | ||
Goodwill | 2,193 | 2,218 |
Climate Technologies [Member] | ||
Other Financial Information [Line Items] | ||
Goodwill | 497 | 500 |
Commercial & Residential Solutions [Member] | ||
Other Financial Information [Line Items] | ||
Goodwill | $431 | $434 |
Financial_Instruments_Schedule
Financial Instruments (Schedule Of Derivative Instruments) (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain (loss) to earnings | ($20) | ($3) |
Gain (loss) to other comprehensive income | -43 | 3 |
Commodity Contract [Member] | Cash Flow Hedging [Member] | Other Comprehensive Income (Loss) [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain (loss) to other comprehensive income | -12 | 2 |
Commodity Contract [Member] | Cash Flow Hedging [Member] | Cost of Sales [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain (loss) reclassified to earnings | -2 | -3 |
Foreign Exchange Contract [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Notional amount of foreign currency hedge positions | 1,800 | |
Foreign Exchange Contract [Member] | Other deductions, net [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain (loss) to earnings | -17 | -2 |
Foreign Exchange Contract [Member] | Cash Flow Hedging [Member] | Other Comprehensive Income (Loss) [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain (loss) to other comprehensive income | -31 | 1 |
Foreign Exchange Contract [Member] | Cash Flow Hedging [Member] | Sales, Cost of Sales [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain (loss) reclassified to earnings | -1 | 2 |
Copper and Aluminum [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Amount of copper and aluminum hedged | $224 | |
Weight in pounds of copper and aluminum commodity hedges | 80,000,000 |
Financial_Instruments_Fair_Val
Financial Instruments (Fair Value Measurements) (Details) (USD $) | Dec. 31, 2014 | Sep. 30, 2014 |
In Millions, unless otherwise specified | ||
Derivatives, Fair Value [Line Items] | ||
Collateral posted to counterparties | $0 | |
Collateral held from counterparties | 0 | |
Maximum collateral that could have been required | 49 | |
Fair value of long-term debt compared with carrying value | -449 | |
Fair Value, Inputs, Level 2 [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Fair value of long-term debt | 4,280 | |
Cash Flow Hedging [Member] | Foreign Exchange Contract [Member] | Assets [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Fair value of derivative assets | 31 | 32 |
Cash Flow Hedging [Member] | Foreign Exchange Contract [Member] | Other Liabilities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Fair value of derivative liabilities | 57 | 20 |
Cash Flow Hedging [Member] | Commodity Contract [Member] | Assets [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Fair value of derivative assets | 0 | 1 |
Cash Flow Hedging [Member] | Commodity Contract [Member] | Other Liabilities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Fair value of derivative liabilities | $19 | $10 |
Equity_Roll_Forward_Schedule_O
Equity Roll Forward (Schedule Of Change In Equity) (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||
Balance at September 30, 2014 | $10,167 | |
Net earnings | 529 | 477 |
Other comprehensive income (loss) | -301 | 41 |
Cash dividends | -334 | |
Net purchases of common stock | -505 | |
Balance at December 31, 2014 | 9,556 | |
Parent Company [Member] | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||
Balance at September 30, 2014 | 10,119 | |
Net earnings | 525 | |
Other comprehensive income (loss) | -300 | |
Cash dividends | -326 | |
Net purchases of common stock | -505 | |
Balance at December 31, 2014 | 9,513 | |
Noncontrolling Interest [Member] | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||
Balance at September 30, 2014 | 48 | |
Net earnings | 4 | |
Other comprehensive income (loss) | -1 | |
Cash dividends | -8 | |
Net purchases of common stock | 0 | |
Balance at December 31, 2014 | $43 |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Income (Details) (USD $) | 3 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2014 |
Accumulated other comprehensive income [Roll Forward] | |||
Amortization of deferred actuarial losses into earnings | $28 | $23 | |
Accumulated other comprehensive income (loss) | -875 | -146 | -575 |
Foreign currency translation [Member] | |||
Accumulated other comprehensive income [Roll Forward] | |||
Beginning balance | 171 | 504 | |
Other comprehensive income (loss) | -304 | 17 | |
Ending balance | -133 | 521 | |
Pension and post retirement [Member] | |||
Accumulated other comprehensive income [Roll Forward] | |||
Beginning balance | -746 | -692 | |
Amortization of deferred actuarial losses into earnings | 28 | 23 | |
Ending balance | -718 | -669 | |
Cash Flow Hedges [Member] | |||
Accumulated other comprehensive income [Roll Forward] | |||
Beginning balance | 0 | -1 | |
Deferred gains (losses) arising during the period | -26 | 2 | |
Reclassification of realized (gain) loss to sales and cost of sales | 2 | 1 | |
Ending balance | ($24) | $2 |
Accumulated_Other_Comprehensiv3
Accumulated Other Comprehensive Income (Details 2) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Pension and post retirement [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Amortization of deferred actuarial losses, tax | ($15) | ($13) |
Cash Flow Hedges [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Deferred cash flow hedging gains (losses), tax | 17 | -1 |
Reclass of deferred cash flow hedging (losses), tax | ($1) | $0 |
Pension_Postretirement_Expense2
Pension & Postretirement Expenses (Summary Of Net Periodic Pension And Net Postretirement Plan Expenses) (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Pension And Postretirement Plan Expenses [Line Items] | ||
Service cost | $27 | $24 |
Interest cost | 60 | 62 |
Expected return on plan assets | -92 | -86 |
Net amortization | 43 | 36 |
Total | $38 | $36 |
Other_Deductions_Net_Schedule_
Other Deductions, Net (Schedule Of Other Deductions, Net) (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Other deductions, net [Line Items] | ||
Amortization of intangibles | $55 | $57 |
Rationalization of operations | 9 | 13 |
Other | 0 | 25 |
Total | 64 | 95 |
Change in gain (loss) from foreign currency exchange transactions | $19 |
Rationalization_Of_Operations_1
Rationalization Of Operations (Details) (USD $) | 3 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2015 |
Restructuring Reserve [Roll Forward] | |||
Beginning rationalization of operations liability | $22 | ||
Rationalization of operations, expense | 9 | 13 | |
Rationalization of operations, paid | 11 | ||
Ending rationalization of operations liability | 20 | ||
Process Management [Member] | |||
Restructuring Reserve [Roll Forward] | |||
Rationalization of operations, expense | 3 | 3 | |
Industrial Automation [Member] | |||
Restructuring Reserve [Roll Forward] | |||
Rationalization of operations, expense | 2 | 2 | |
Network Power [Member] | |||
Restructuring Reserve [Roll Forward] | |||
Rationalization of operations, expense | 1 | 4 | |
Climate Technologies [Member] | |||
Restructuring Reserve [Roll Forward] | |||
Rationalization of operations, expense | 2 | 3 | |
Commercial & Residential Solutions [Member] | |||
Restructuring Reserve [Roll Forward] | |||
Rationalization of operations, expense | 1 | 1 | |
Severance and benefits [Member] | |||
Restructuring Reserve [Roll Forward] | |||
Beginning rationalization of operations liability | 20 | ||
Rationalization of operations, expense | 5 | ||
Rationalization of operations, paid | 6 | ||
Ending rationalization of operations liability | 19 | ||
Lease and other contract terminations [Member] | |||
Restructuring Reserve [Roll Forward] | |||
Beginning rationalization of operations liability | 1 | ||
Rationalization of operations, expense | 0 | ||
Rationalization of operations, paid | 1 | ||
Ending rationalization of operations liability | 0 | ||
Vacant facility and other shutdown costs [Member] | |||
Restructuring Reserve [Roll Forward] | |||
Beginning rationalization of operations liability | 0 | ||
Rationalization of operations, expense | 1 | ||
Rationalization of operations, paid | 0 | ||
Ending rationalization of operations liability | 1 | ||
Start-up and moving costs [Member] | |||
Restructuring Reserve [Roll Forward] | |||
Beginning rationalization of operations liability | 1 | ||
Rationalization of operations, expense | 3 | ||
Rationalization of operations, paid | 4 | ||
Ending rationalization of operations liability | 0 | ||
Scenario, Forecast [Member] | |||
Restructuring Reserve [Roll Forward] | |||
Expected fiscal year rationalization expense | $100 |
Business_Segment_Information_D
Business Segment Information (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Segment Reporting Information [Line Items] | ||
Net sales | $5,587 | $5,606 |
Earnings before income taxes | 765 | 643 |
Eliminations/Interest | -46 | -54 |
Increase (decrease) in incentive stock compensation expense | -27 | |
Increase (decrease) in inventory costs (purchase accounting) | -20 | |
Increase (decrease) in pretax charitable contributions | -30 | |
Operating Segments [Member] | ||
Segment Reporting Information [Line Items] | ||
Net sales | 5,750 | 5,745 |
Earnings before income taxes | 864 | 825 |
Operating Segments [Member] | Process Management [Member] | ||
Segment Reporting Information [Line Items] | ||
Net sales | 2,099 | 2,041 |
Earnings before income taxes | 392 | 373 |
Operating Segments [Member] | Industrial Automation [Member] | ||
Segment Reporting Information [Line Items] | ||
Net sales | 1,152 | 1,149 |
Earnings before income taxes | 164 | 162 |
Operating Segments [Member] | Network Power [Member] | ||
Segment Reporting Information [Line Items] | ||
Net sales | 1,119 | 1,303 |
Earnings before income taxes | 79 | 83 |
Operating Segments [Member] | Climate Technologies [Member] | ||
Segment Reporting Information [Line Items] | ||
Net sales | 900 | 786 |
Earnings before income taxes | 126 | 107 |
Operating Segments [Member] | Commercial & Residential Solutions [Member] | ||
Segment Reporting Information [Line Items] | ||
Net sales | 480 | 466 |
Earnings before income taxes | 103 | 100 |
Corporate, Non-Segment [Member] | ||
Segment Reporting Information [Line Items] | ||
Differences in accounting methods | 58 | 57 |
Corporate and other | -111 | -185 |
Eliminations/Interest | -46 | -54 |
Intersegment Eliminations [Member] | ||
Segment Reporting Information [Line Items] | ||
Net sales | -163 | -139 |
Intersegment Eliminations [Member] | Industrial Automation [Member] | ||
Segment Reporting Information [Line Items] | ||
Net sales | ($145) | ($116) |
Acquisitions_and_Divestitures_
Acquisitions and Divestitures (Details) (USD $) | 3 Months Ended | 12 Months Ended | 3 Months Ended | |
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Mar. 31, 2015 |
Significant Acquisitions and Disposals [Line Items] | ||||
Net sales | $5,587 | $5,606 | ||
Payments to acquire businesses, net of cash acquired | 143 | 576 | ||
Goodwill | 6,940 | 7,182 | ||
Earnings (loss) before income taxes | 765 | 643 | ||
Net earnings (loss) | 529 | 477 | ||
Series of Individually Immaterial Business Acquisitions [Member] | ||||
Significant Acquisitions and Disposals [Line Items] | ||||
Number of individually immaterial businesses acquired | 3 | |||
Net sales | 32 | |||
Payments to acquire businesses, net of cash acquired | 143 | |||
Goodwill | 73 | |||
Goodwill, expected tax deductible amount | 42 | |||
Business combination, recognized identifiable assets acquired and liabilities assumed, finite-lived intangibles | 61 | |||
Acquired finite-lived intangible assets, weighted average useful life | 11 years | |||
Power Transmission Solutions [Member] | ||||
Significant Acquisitions and Disposals [Line Items] | ||||
Net sales | 605 | |||
Earnings (loss) before income taxes | 87 | |||
Assets held-for-sale, other current assets | 180 | |||
Assets held-for-sale, other assets | 377 | |||
Liabilities held-for-sale, accrued expenses | 81 | |||
Liabilities held-for-sale, other liabilities | 16 | |||
Artesyn (embedded computing and power) and connectivity solutions [Member] | ||||
Significant Acquisitions and Disposals [Line Items] | ||||
Net sales | 164 | |||
Earnings (loss) before income taxes | -10 | |||
Percentage of controlling interest sold | 51.00% | |||
Net earnings (loss) | -8 | |||
Subsequent Event [Member] | Power Transmission Solutions [Member] | ||||
Significant Acquisitions and Disposals [Line Items] | ||||
Proceeds from divestiture of business | 1,400 | |||
After-tax proceeds from divestiture of business | 1,000 | |||
Gain (loss) on disposal | $520 | |||
Impact on diluted earnings per share of disposal gain | $0.75 |
Contingencies_Details
Contingencies (Details) (USD $) | 3 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2014 |
Commitments and Contingencies Disclosure [Abstract] | |
Damages sought in Invensys suit | $182 |